2024-12-31-accounts

JACKSON FOX CHARTERED ACCOUNTANTS

ANA LEAF FOUNDATION

TRUSTEES' ANNUAL REPORT

AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

ANA LEAF FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2024 CONTENTS

	Page
Annual Trustees' Report	1-4
Trustees’ Responsibilities	5
Accountant's Report	6
Independent Auditor's Report	7-10
Statement ofFinancial Activities	11
Balance Sheet	12
Statement ofCash Flows	13
NotestotheFinancialStatements	14-22

af = ANA LEAF FOUNDATION ANNUAL TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report and financial statements for the year ended 31 December 2024. The Trustees have prepared the financial statements in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (the Charities SORP).

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.

Reference and Administration Information

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|||||| |---|---|---|---|---| |Foundation|Name|Ana|Leaf|Foundation| |Registered|Charity|Number|1133255| |Registered|Company|Number|707897)|

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|||||||| |---|---|---|---|---|---|---| |Registered|Address|Valiant|House| |12|Knoll|Rise| |Oprington| |England| |BR6|OPG| |Trustees|Carolynne|Hayley|de|Putron| |Amanda|Catherine|Simmons| |Accountants|Jackson|Fox| |Independent|auditors|RSM|Channel|{slands|(Audit)|Limited|

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||||| |---|---|---|---| |Banker|UBS|AG,|Switzerland| |Solicitors|Maurice|Turnor|Gardner LLP|

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- Ie ANA LEAF FOUNDATION ANNUAL TRUSTEELS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, Government and Management

Ana Leaf Foundation is a company limited by guarantee and does not have share capital. It was incorporated in England on 17 November 2009 and registered as a charity on 11 December 2009.

The governing documents are the Memorandum of Association and Articles of Association of Ana Leaf Foundation dated 5 November 2009.

Objectives and Activities

The objects and activities for which the Charity is established are:

• e The relief of sickness and the preservation of health anywhere in the world and in particular among people in the UK and Channel Islands.

• The promotion of medical research anywhere in the world and in particular the support of research and dissemination of the useful results of such research with the aim of improving health.

• e The advancement of education and the provision of facilities for education anywhere in the world and in particular among people in the UK and Channel Islands.

• e The promotion of such other purposes being exclusively charitable according to the laws of England and Wales as the Trustees may from time to time determine.

Ana Leaf Foundation applies its assets to achieve these objectives, During the year it has made and awarded grants to organisations and individuals relating to health preservation, education and other areas in furtherance of its charitable activities. Grants have been made on both an unrestricted and restricted basis. All applications for grants are considered at Trustees mectings and confirmed or ratified thereat. Ana Leaf Foundation has continued to meet previous commitments to provide on-going funding to organisations, as well as entering into new agreements and making one-off donations.

Risk Management

The Trustees have responsibility for ensuring the Charity operates an appropriate system of controls, financial or otherwise, to provide reasonable assurance the Charity is operating efficiently and effectively.

The key risk is the abuse by those in receipt of donations from the Charity such that they do not apply the funds received in accordance with the Charity’s purposes. The Trustees mitigate this risk by undertaking appropriate checks before agreements ave signed and require updates and reports from each party who receive donations from the Charity,

=3)ANA LEAF FOUNDATION ANNUAL TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and Performance

The Trustees consider the performance of the Foundation in the year 3] December 2024 to have been satisfactory. The Foundation received a donation of £2,000,000 from Alastair LLP during the year. The unrestricted income funds of the Ana Leaf Foundation remain positive and enable on-going grant giving in accordance with its objectives.

Financial Review

Reserves Policy

Given the scale and nature of the Foundation’s activities the Trustees have concluded holding reserves is unnecessary, beyond those necessary to fund committed obligations.

I'und Deficits

There are no fund deficits.

Funding Sources

The Foundation received a donation of £2,000,000 from Alastair LLP in 2024 (2023: Enil).

Investnent policies

The Trustees have deposited £2,212,000 on 3 months' Deposit at 3.05% and £800,000 on Fiductary Call at 4.26% in order to secure a greater return on the Foundation's cash resources.

Future Plans

The Trustees will continue to provide grants to further the objects of the Foundation where funds are available which enable them to do so.

Public Benefit Statement

The Foundation has complied with the duty in Section 4 of the Charities Act to have due regard to the Charities Commission’s general guidance on public benefit contained therein, The Trustees have in particular, considered their future vision of the Foundation’s activities with regard to continuing to provide public benefit.

Saye

ANA LEAF FOUNDATION ANNUAL TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Governance, Management and Administration

Ana Leaf foundation is managed by its Trustees and decisions are made by the Trustees. Regular Trustee meetings are held.

Both Trustees were appointed at the inception of the foundation and have served continuously since then. No other Trustees have held office. The Foundation relies upon the guidance issued by the Charities Commission in relation to the induction and training of Trustecs.

RSM Channel [slands (Audit) Limited are the Foundation's Independent Auditors and Jackson Fox, Chartered Accountants, are the Foundation's Accountant.

Impact of Macro Environment

The impacts on the Foundation of the Russia-Ukraine conflict is ongoing. The Trustees will continue to monitor the situation and impacts these events are having on the wider economy and will assess the challenges that may avise and endeavour to take appropriate action as matters develop.

Disclosure of Information to Auditor

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:

• e So far as that Trustee is aware, there is no relevant audit information of which the Foundation’s auditors are unaware, and

• e they have taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the Foundation’s auditors in connection with preparing their report and to establish that the Foundation’s auclitor is aware of that information.

By order ofthe Board of Trustees on Zz G“Zul W2ts

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Hage AMQurins
C.H. de Putron A.C, Simmons
Trustee and Chairman Trustee and Administrator
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C.H. de Putron Trustee and Chairman

aS ANA LEAF FOUNDATION TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (FRS102).

Charity law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources of the Foundation for the year.

In preparing these financial statements, the Trustees are required to:

• e Select suitable accounting policies and then apply them consistently;

• e Make judgements and estimates that are reasonable and prudent;

• e State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• e State whether best practices of the Charitics Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements; and

• e Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue.

The ‘Trustees are responsible for keeping adequate accounting records which are sufficient to show and explain all of the Foundation’s transactions which are sufficient to disclose at any time with reasonable accuracy the financial position of the Foundation at that time and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations, the Companies Act 2006 and provision of the governing document.

The Trustees are responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Ou

ACCOUNTANTS REPORT TO THE TRUSTEES ON THE AUDITED FINANCTAL STATEMENTS OF ANA LEAL FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2024

Tn order to assist you to fulfil your duties under the Companies Act 2006, we have prepared the financial statements of the Foundation which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the Foundation’s Trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Foundation’s Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Foundation’s Trustees, as a body, for our work or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged in your Trustees’ Responsibilities Statement report your duty to ensure that the Foundation has kept proper accounting records and to prepare financial statements in accordance with United Kingdom generally accepted accounting standards,

We have not been instructed to carry out an audit of the financial statements, For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements,

Jackson Fox Chartered Accountants The White House 1 —2 Hilgrove Street St Helier Jersey JE4 8TQ

Date: 2G Yyly WwWwIs

RS Mi

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF ANA LEAF FOUNDATION

Opinion

We have audited the financial statements of Ana Leaf Foundation, which comprise the balance sheet at 31 December 2024, and the statement of financial activities and statement of cash flows for the year then ended, and notes 1 to 11 to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• e give a true and fair view of the state of affairs of the Foundation as at 31 December 2024 and of its results for the year then ended;

• e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• e have been prepared in accordance with the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (‘ISAs (UK)’) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of this report. We are independent of the Foundation in accordance with the ethical requirements that are relevant to our audit of the financiai statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Foundation’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information, which comprises the Annual Trustees’ Report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusions thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

• In our opinion, based on the work undertaken in the course of the audit:

• e the information given in the Annual Trustees’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• e the Annual Trustees’ Report have been prepared in accordance with applicable legal requirements.

PP ee RSM

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF ANA LEAF FOUNDATION (continued)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Foundation and its environment obtained in the course of the audit, we have not identified material misstatements in the Annual Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you ff, in our opinion;

• e adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• e the financial statements are not in agreement with the accounting records and returns; or

• e certain disclosures of Trustees’ remuneration specified by law are not made; or

• e we have not received all the information and explanations we require for our audit; or e the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Annual Trustees’ Report and from the requirement to prepare a Strategic Report.

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 5, the Trustees are responsible for the preparation of the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Foundation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Foundation or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• e Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than the one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• e Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Foundation’s internal control.

• e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.

• e Conclude on the appropriateness of the Trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Foundation’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Foundation to cease to continue as a going concern.

| it es) RSM

INDEPENDENT AUDI!ITORS' REPORT TO THE TRUSTEES OF ANA LEAF FOUNDATION (continued)

Auditor’s responsibilities for the audit of the financial statements (continued)

• e Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is explained below.

The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of the Trustees to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

We obtained an understanding of the legal and regulatory frameworks that the Foundation operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. These included compliance with the Companies Act 2006 and the Charities Act 2011.

Our testing included, but was not limited to:

• e enquiries of the Trustees regarding known or suspect instances of non-compliance with laws and regulations;

• e enquiries of the Trustees regarding known or suspect instances of irregularities, including fraud; e undertaking analytical procedures to identify unusual or unexpected relationships; e review of minutes of the Trustees meetings throughout the period; e testing the appropriateness of journal entries and other adjustments; and

• e agreement of the financial statements disclosures to underlying supporting documentation.

Owing to the inherent limitations of an audit there is an unavoidable risk that some material misstatement of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). However, the principal responsibility for ensuring that the financial statements are free from material misstatement, whether caused by fraud or error, rests with the Trustees who should not rely on the audit to discharge those functions.

In addition, as with any audit, there remains a higher risk of non-detection of fraud, as this may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing noncompliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

.: if aes

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF

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RSM
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ANA LEAF FOUNDATION (continued)

Use of our report

This report is made solely to the Trustees as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Foundation and the Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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gel M Lucas (Senior Statutory Auditor) or & on behalf of RSM Channel Islands (Audit) Limited, Statutory Auditor Jersey, C.1.

11 August 2025

=f

ANA LEAF FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

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|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|&|Total|Funds|Unrestricted|&|Total|Funds| |2024|2023| |Note|£|&|£|ib| |INCOME AND|ENDOWMENTS|FROM:| |Denations|g|2,000,000|-| |Deposit|interest|93,036|98,794| |Other|income|4|2,000|2,500| |2,095,036|101,294| |EXPENDITURE|ON:| |Charitable|Activities|5|1,520,879|1,357,651| |Other|costs|6|31,953|46,576| |1,572,832|1,404,227| |Net|surplus|/|(expenditure)|for|the|year|522,204|(1,302,933)| |RECONCILIATION|OF|FUNDS:| |TOTAL|FUNDS|BROUGHT|FORWARD|2,403,597|3,706,530| |Net|surplus|/|(expenditure)|for|the|year|$22,204|(1,302,933)| |TOTAL|FUNDS|CARRIED FORWARD|2,925,801|2,403,597|

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The above results derive wholly from continuing activities. ‘There are no items of other comprehensive income arising in either the current or the prior year. ‘The notes on pages 14 to 22 form part of these audited financial statements.

=|13e ANA LEAF FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2024

		2024		2023
	Note	£	£	£	£
CURRENT ASSETS
Cash at bank		3,013,866		2,507,552
Debtors andprepayments	uy)	19,850__		19,943
		3,033,716		2,527,495
CREDITORS: AMOUNTS FALLING	DUE
WITHIN ONE YEAR
Accruals	8	6,400		7,825
Grant commitments	§	101,515_		92,978
		107,915		100,803
NET CURRENT ASSETS			2,925,801		2,426,692
CREDITORS: AMOUNTS FALLING	DUE
AFTER MORETHANONE YEAR
Grantcommitments	9		-		23,095
NETASSETS			2,925,801		2,403,597
THEFUNDS OF THE CHARITY
Unrestricted general funds			2,925,801		2,403,597
TOTALCHARITYFUNDS			2,925,801		2,403,597

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The financial statements on pages | Lto 22 were approved by the Board of Trustees
and authorised for issue on 29“Jay Los. ——
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C.H, de Putron A.C. Simmons
Trustee Trustee
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The notes on pages 14 to 22 form part of these audited financial statements.

-{3ANA LEAF FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

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|||||||||| |---|---|---|---|---|---|---|---|---| |Note|2024|2023| |£|£| |Net|cash|flows|from| |Operating|activities|A,|506,314|(1,345,958)| |Net|increase|/|(decrease)|in| |Cash|and|cash|equivalents|506,314|(1,345,958)| |Cash|and|cash|equivalents|at|beginning|ofyear|2,507,552|3,853,510| |Cash|and|cash|equivalents|at|end|of ycar|3,013,866|2,507,552|

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NOTES TO THE CASH FLOW STATEMENT

A, RECONCILIATION OF THE NET EXPENDITURE TO NET CASH PLOWS PROM OPERATING ACTIVITIES

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|||||||||| |---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Net|surplus|/ (expenditure)|for|the year|$22,204|(1,302,933)| |Decrease|/|(increase)|in|debtors|and|prepayments|93|(2,323)| |(Decrease)|/|increase|in|accruals|(1,425)|2,725| |Increase|/|(decrease)|in|creditors|(14,558)|(43,427)| |Cash|used|in|operations|506,314|(1,345,958)|

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B,. NET DEBT MOVEMENT

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||||||||| |---|---|---|---|---|---|---|---| |At|||January|Non-cash|At31|December| |2024|Cash|flows|movements|2024| |£|£|BY|3| |Cash|and|cash|equivalents|2,507,552|506,314|-|3,013,866| |Cominitinents| |Due|within|one|year|(80,860)|-|(7,205)|(88,065)| |Due|after|one|year|(23,095)|-|23,095| |Total|2,403,597|__|506,314|15,890|_2,925,801|

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The notes on pages 14 to 22 form part of these auclited financial statements.

-|4ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

t, STATUTORY INFORMATION

The Ana Leaf Foundation is a registered charity and was incorporated in England, registration number 1133255. The registered office is Valiant House, 12 Knoll Rise, Orpington, England, BR6 OPG.

2. ACCOUNTING POLICIES

A summary of the principal accounting policies, all of which have been applied consistently throughout the year is set out below:

(a) Basis of preparation and statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (the Charities SORP). The financial statements are presented in Pounds Sterling, the Foundation's functional and presentational currency.

(b) Funds

The Foundation holds unrestricted general income funds. These funds ave free to be used for any of the Foundation's purposes as the Trustees, at their sole and absolute discretion, think fit. Within general funds there are no designated funds. No restricted income or endowment funds are held by the Foundation.

(c) Income and endowments

Donations

Donations include all income received by the Foundation which is a gift made to it on a voluntary basis. Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Investment income

Income from interest is accounted for when due and is received without deduction of tax.

Other Income

Other income represents services given to the Foundation for its own use which it would otherwise have purchased. These are included when received and measured at fair value.

-15ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES (continued)

(d) Debtors and prepayments

Debtors and prepayments are recognised net ar other consideration expected to be received less any impairment.

(ec) Expenditure

Charitable activities

Resources expended are approved by the Trustees. The majority of expenditure is in relation to charitable activilics and a list of grants payable is shown in Note Sa.

Grants payable in furtherance of the Foundation’s objectives are accounted for when there is an obligation arising from a past event to make transfer of value of resource. Where there is an expectation arising from a constructive obligation for grants to be paid over a period of more than one year recognition depends on any conditions attached. Where conditions remain within the control of the Foundation then such constructive obligations are not recognised. Charitable activities expenditure also includes costs incurred by the Foundation in association with grant giving. Each ofthe costs is specific to a grant,

(f) Other Expenditure

Other costs consist of governance and support costs.

Governance costs relate to the general running of the Foundation as opposed to those costs associated with charitable activity. They inchice audit costs, legal advice costs, and costs relating to constitutional and statutory requirements plus costs which are associated with the strategic rather than day to day running of the l’oundation.

Support costs are costs which although necessary to deliver activities of the Foundation do not themselves produce or constitute the output of the charitable activities. Support costs include the consumption of gifted services.

Ana Leaf Foundation has no employees. There is no apportionment of costs to activities and therefore no estimation techniques are applied to calculate apportionment.

(g) Current liabilities

Amounts owed by the Foundation at the year end are recognised at the transaction value.

~ 16 ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES (continued)

(h) Non-current Liabilities

Grants payable are measured at the present value of the future payments discounted at the market rate of interest for similar debt instrument based on the original agreement for the annual grant amount over the agreed period of support. The ‘Trustees consider this to be 7.75% (2023: 8.25%) for the Foundation for the year.

(i) Recognised Gains and Losses

There were no recognised gains or losses other than those shown in the Statement of Financial Activities,

Gj) Statement of cash flows

The Statement of cash flows has been prepared using the indirect method.

Cash and cash equivalents are recognised at and subsequently measured at the amount of cash held. Cash equivalents are short term, highly liquid deposits with a maturity of less than three months.

(k) Going concern

The financial statements have been prepared on the going concern basis. The Trustees consider that the Foundation has the ability to meet its obligations as they fall due for a period of at least twelve months from the date of signing these financial statements,

() Critical accounting judgements and estimate uncertainty.

There are no material accounting judgements or balances subject to estimate uncertainty.

3,	DONATIONS	2024	2023
		£	£
	Donationreceived	2,000,000		-

During the year, the Foundation received a donation of £2,000,000 from Alastair LLP, a company under common influence (2023: £nil). The prior yeat's donations were utilised by the Foundation throughout the year to fund its activities.

~T7=

ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4. OTHER INCOME

OTHER INCOMEINCOME	OTHER INCOMEINCOME		2024	2023
			&	Li
Gifled	accountancy	services	2,000	2,500

Jackson Fox, Chartered Accountants, formerly provided accountancy services to the Foundation with a nominal charge being made. The market rate for such services had been estimated and the additional charge recognised as income.

5. CHARITABLE ACTIVITIES

CHARITABLE ACTIVITIES		2024	2023
		ie	£
Grants payable in
furtheranceoftheFoundation'sobjects	NoteSa	1,520,879	1,357,651_

-18-

ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

5a. GRANTS PAYABLE IN FURTHERANCE OF THE CHARITY'S OBJECTS

Grants relating to the object of Health Preservation

		2024	2024			2023	2023
	Institution	Individual	Direct	Tota]	Institution	Individual	Direct	Total
			Activities				Activities
	£	£	£	if	£	Fs)	£	if
Action forME	28,000	-	-	28,000	~	-	:	e
Brighter Futures	=	=	-	-	50,000	-	-	50,000
CancerResearchUK	18,255	-	-	18,255	20,630	-	-	20,630
Cope Children's Trust	=	=	7	-	10,000	-	-	10,000
DigDeep (Africa)	-	-	-	-	2,000	-	-	2,000
Evelina London Children's Charity	30,000	-	-	30,000	-	a	.	:
Mikeysline	=	=	-	-	12,000	-	-	12,000
Mind Jersey	o	S	=	a	2		2	-
Northampton Hope Centre	=	.	=	-	12,000	-	-	12,000
Parent-Infant Foundation	350,000	-	-	350,000	110,000	~	-	110,000
The Shelter Trust	-	-	-	-	58,476	-	-	58,476
	426,255	-	-	426,255	275,106	-	-	275,106

-19-

.

ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

5a. GRANTS PAYABLE IN FURTHERANCE OF THE CHARITY'S OBJECTS

Grants relating to the object of Education

Grants relating to the object of EducationEducation
		2024				2023
	Institution	Individual	Direct	Total	Institution	Individual	Direct	Total
			Activities				Activities
	£	£	Fe	£	iL	Pe	£	£
At the States	-	-	167	167	-	-	167	167
De Putron Challenge	-	-	37,934	37,934	-	~	41,743	41,743
Leaders ofTomorraw	-	-	6,923	6,923	-	-	6,603	6,603
Learning and Ideas for Tibet	8,000	=	-	8.000	-	-	-	-
Music inAction	10,000	-	-	10,000	2	i	S	-
The Oppidan Foundation	20,000	-	-	20,000	-	.	z	:
The Royal Foundation	1,000,000	-	-	1,000,000	1,000,000	-	3	1,000,000
	1,038,000	-	45,024	1,083,024	1,000,000	-	48,513	1,048,513

290%

ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Sa. GRANTS PAYABLE IN FURTHERANCE OF THE CHARITY'S OBJECTS

Grants relating to other objects	Grants relating to other objects
			2024				2023
		Institution	Individual	Direct	Total	Institution	Individual	Direct	Total
				Activities				Activities
		£	£	£	£	£	i	5	£
Association ofJersey Charities		1,600	-	-	1,600	7,413	-	-	7,413
Guensey Netball Association		10,000	-	7	10,000	-	=	=	7
Jersey Netball Association		-	-	-	-	12,000	-	-	12,000
Jersey Triathlon Club		~	-	-	-	14,619	-	”	14,619
		11,600	-	-	11,600	34,032	-	-	34,032
Total
Total Heath Preservation	per page 18				426,255				275,106
Education	perpage 19				1,083,024				1,048,513
Other	perpage 20				11,600				34,032
					1,520,879				1,357,651

ry pf

-Di<

ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6.	OTHERCOSTS	2024	2023
		£	f
	Governance costs
	Audit fees	6,150	5,900
	Accountancy fees	2,500	2,500
	Total Governance costs	8,650	8,400
	Support costs
	Bank costs	954	825
	Finance costs	1,905	-
	Travel and other Trustee expenses	929	701
	Public relations costs	39,515	36,650
	Total Support costs	43 303	38,176
	Totalcostsclassifiedasothercosts	51,953	46,576

All support costs are related to the charity's activities awarding grants to third parties. Finance costs represent the discount factor unwinding on grants due in over one year.

7.	DEBTORS AND PREPAYMENTS	2024	2023
		ey	£
	Grants prepaid	10,409	11,343
	Public relations fees prepaid	9,030	&,600
	Bank interest receivable	411	-
		19,850	__:19,943
8.	CREDITORS: AMOUNTS FALLING	2024	2023
	DUEWITHINONEYEAR	f,	£
	Accruals
	Audit fees	5,900	5,500
	Accountancy fees	500
	Public relations costs	-	2325
		6,400	7,825

PD. ANA LEAF FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

8.	CREDITORS: AMOUNTS FALLING	2024	2023
	DUE WITHIN ONEYEAR (CONTINUED)	£	£
	Grant commitnents
	Action forME	14,000	-
	Brighter Futures	-	-
	De Putron Challenge	62,515	59,828
	Jersey Triathlon Club	5,000	5,000
	Jersey Netball Association	-	6,000
	Leaders ofTomorrow	-	2,150
	The Shelter Trust	20,000	20,000
		101,515	92,978
9.	CREDITORS: AMOUNTS FALLING	2024	2023
	DUEAFTERMORETHANONEYEAR	iy	£
	Jersey Triathlon Club	-	4,619
	The Shelter Trust	-	18,476
		-	23,095

10. RELATED PARTIES

Trustee expenses of £929 (2023: £701) relate to travel incurred by one Trustec, No amount was outstanding at the year end (2023: nil).

None of the Trustees have been paid any remuneration or any other benefits by the Foundation.

In 2024, the Foundation received a donation of £2,000,000 from Alastair LLP (2023: £nil, a company under common influence. The prior year's donations were utilised by the Foundation throughout the year to fund its activities.

ll, POST BALANCE SHEET EVENTS

In 2025, the following grants, totalling £427,000, had been awarded by the Foundation to 31 May 2025:

		Health	Other
	Education	Preservation	Objects	Total
	if	ie	Fo	i
Action forME	-	14,000	-	14,000
Brighter Futures	-	50,000	-	50,000
Cancer Research UK	-	30,000	-	30,000
Cope Children's Trust	-	11,000	-	11,000
Holy Trinity Church SPACE Project	-	-	150,000	150,000
Learning and Ideas for Tibet	9,000	-	-	9,000
Music in Action	10,000	-	=	10,000
Parent-Infant Partnership	-	130,000	-	130,000
YouthCommission Guernsey& Alderney	>	-	23,000	— 23,000
	19,000	235,000	173,000	427,000