Charity registration number 1134575 Company reglstratlon number 05002640 (England and Wales) GUERRAND HERMES FOUNDATION FOR PEACE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 GUERRAND HERMES FOUNDATION FOR PEACE LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr S l Horthy Ms AAsseily MrA J Holloway Mrs l A Horthy Mr M Ridwan Prof P C Brodeur Secretary Mr S l Horthy Charity number 1134575 Company number 05002640 Registered office 199 Preston Road Brighton BN16SA Auditor Sumer Audit Amelia House Crescent Road Worthing Wesl Sussex 8N11 1RL GUERRAND HERMES FOUNDATION FOR PEACE CONTENTS Page Truslees, report Statement of trustees, responsibilities 12 Independent auditols report 13-15 Statement of financial activities 16 Balance sheet 17 Statemenl of cash flows 18 Notes to the financial slalements 19-33 GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial stalemenls for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set oul in note 1 lo the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}" (effective 1 January 2019). Objoctivas and activities The mission of the GHFP is to promote Ihe development of qualitie5 that are needed for peace and a sustainable human future. The GHFP works as an international Ihink-tank and research inslitule, investigating areas of cOn￿M key lo the advan￿ment of our mission. Our overall legal objectives include the advancement of: Sustainable development and well-being-, Education of the public.. and Racial and r81igious harmony. Public banafit The tnjstees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Activities To achieve these objectives, the GHFP focuses on the following.. sustainable development and well-being.. by introducing the notion of holistic human well-being and supporting the development of governance that is humanising and well-being sensitive.. education of the public.. by encouraging human-cent8red 8ducation, ethics educalion, and inspiring a ¢uItUTe of care in schools., and racial and religious hamiony.. through colleclive healing the wounds of dehumanisation In addition, lo support all objectives, the GHFP also embarks on research and hosts international events for deepening understanding, to launch evaluation on the impact of our activities, and generates both internal and external publications lo disseminate our learnings, Ihrough for example concept noles. while papers, teaching resources, journal articles and books. Achievements and perfom7ance Signrficant activities and achievements against objectives The following report is structured under the themes of the Foundation's work. demonslraling how our aclivities aim lo further our stated purposes for public benefit most of our activities seek lo serve more than one aim. A. SUSTAINABLE DEVELOPMENT AND WELL-BEING Under this objective, the GHFP supports initiatives and projects that can enable a better understanding of the need for development and well-being, and inspire a belter integration of spiritual values, such as forgiveness, authenlicily, love and caring in personal and communal lives, social policies and institutional practices. We also facilitate spa￿$ lo explore our ideas on sustainability and positive peace in international forums and share them with other institutions through dialogue and publications. In 2024, the GHFP provided grants to a number of carefully selected projects and collaborated with inlemational partners to strengthen their impact and to further Ihe GHFP'S mission. Global Humanity for Peace Institute The Global Humanity for Pea￿ Inslitule is co-created by the GHFP and University of Wales Trinity Saint David. Since its inception in 2021, Ihe Institute ha5 been actively carrying out research, project evalualion and knowledge- leadeiship. The Inslitule's major focus includes coordinating UNESCO Collective Healing Initiative. GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Research When our current economic systems effectively prioritise materialism. self-interest, and other misplaced values. a greater majority of humanity suffers. Some grapple with political antagonism and oppression, some experience racism and discrimination, and others struggle in poverty and marginalization, and lack the opportunity for decent livelihood. Alongside related ecological disasters. causing calaslrophic harm lo humans and the more-than-human, such systemic and environmental turbulence has not only engendered a pandemic of ill-being amongst global youth, bul can also have long-temi detrimenlal effects on collective well-being in generations to come. In 2024, the Institute continued researth in the domain of well-being governance by investigating the systemic barriers lo democracy, and more importantly, by focusing on the values that ought lo underlie good governance. This has been mainly a normative exercise which has allowed us to articulate a set of principles, including11) the principle of non-inslrumentality., {21 the principle of equalily-,131 the principle of non-antagonism., and {41 the principle of well-being of all. This innovative vision of good governance would transform our current conceptions of structural peace. The outcome of this research is a book co-authored by GHFP CEO Prof Garrett Thomson and Prof Scherto Gill, Director, Global Humanity for Peace Instilute. Entitled "Beyond Inslrumenlalised Politics" il is published by DeGruyler as an open-access book with a grant from Pureland Foundation. Y th Leadershi Research and Pro ramme Develo ment This year, the Inslilule also undertook research and programme development towards nurturing leadership and wel being of future generations. More specifically, such research and developmenl aim to cullivale and enrich youth's personal and professional qualities and capacities for initiating activities and facililaling collective healing. social justice and communal well-being at local and global levels. According lo UNESCO, youth programmes must be identified by youth, co-created with youth, and designed for youth. In autumn 2024, the Institute was commissioned by UNESCO'S Social and Human Sciences ISHS) sector to conduct a research study that seeks lo understand the needs of young people in driving positive change within their communities. Th8 study will integrate findings from an exiended lilerature review, a global youlh survey. focus groups conversations led by a youth advisory panel, and in-depth inteNiews wilh both emergent and established leadersl changemakers. The results of this research will inform the development of a new UNESCO ftjture leadership programme. Universit of Meanin lUI￿SD Youn Chan emakers Pro ramm In April 2024, the GHfP Inslilule and pontifical foundation, Scholas Occurrenles, co-piloted a Young Changemakers Programme IYCP) on the uwfsD's Lampeter Campus. Attended by 25 young people from 19 countries, YCP offered inspirational and transformative learning opportunities that combine encounter, experience, inquiry and aelion in a circular itinerary. It aims lo enhance young people's self-awareness. mutual appreciation, and understanding of local-global challenges. Scholas Occurrentes or Scholas, is a pontifical foundation offering educational activities in five continents. It believes in passion, gratitude, mystery, and community as the ethical basis for a new human culture. Scholas seeks lo provide educational experiences that can engender meaning, deepen young people's connection with life, and help them embark a path of real transformation. Building on Scholas, University of Meaning programme, and drawing on UWSD'S commitmenl to the well-being of future generations, and the university's experiences and expertise in offering ethical leadership programme. the YCP seeks lo meet young people's need for making leaming relevant to personal and professional development as well as local and global transformation. YCP Features a week-long in-person programme, involving experiential, artistic and reflective activities. The educational process aims to give meaning to young people's emotions. ideas, and actions Ihrough lisleningl encounterldialogue. co-cieationlcollaboration, and appreciationlcelebration. More importantly. each participant will have a group of peers to explore and dialogue about Iheir respective local challenges, identify a specific issue lo focus on, and plan and design a project for transformative action in their local communily. GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Initiatives of Change International- Trust building Awards 2024 The Inilialives of Change Trust building Pro9ramme is an award-winning grassroots initiative in different parts of the world acros5 the continents. The annual Trust building Awards recognise and promote outstanding efforts in trusl building and peacebuilding in these communities. These awards honor the dedication of individuals and organisalions who act as catalysts for positive change, foslerrng reconciliation, and bridging societal divides. By highlighting these accomplishments, the Awards seek to inspire a new wave of Irusl builders and elevate the discourse on trust in todavs world. In 2024, the Initiatives of Change Trust building Awards ceremony took place in Richmond, Virginia, USA on 20th September. honoring the following.. May Thu Ne Win, Myanmar- Trust building Award ofthe Year, Pascal Biruru, Democratic Republic of Congo - Young Trust builder of the Year Jo Berry. Northern Ireland - Lifetime Achiever. International Symposium 2024: Is Peace Possible in the Middle East Co-convened and facilitated by Scherto Gill, held at the Initiatives of Change International Headquarter in London, this symposium, taking place on 30th June 2024, explored how positive peace might emerge in the Middle East. The context was the most enduring and complex challenges in international relations.. Israeli occupation of Palestine. As violence rages in the region, understanding the mullifaceled dynamics of peacebuilding 1$ more ¢ru¢ial than ever. The event atlracled 100 in person participants and 250 online audience. Imaglne Forum 2024 In October, Scherto Gill convened a panel on positive peace during the annual Imagine Forum held in Reykjavik in Iceland. She led discussions on how dialogue can be a relational route to bridging divides and moving beyond the current impasse. Joining Scherto in this panel were Dr Imad Karam, Director, Initiatives of Change Inlernalional, Jusline Abi Saad, Programme Advisor for Peacebuilding and Conflict Transformation at GIZ, and Dr Helen Marla Oiafsdollir, Securily Sector and Development Specialist al UNDP. The panel explored the current situations in the Middle East, and imagined opportunities that deep dialogue and inlergenerational dialogue might offer towards building peace in the region, and the conditions necessary for dialogue lo flourish. The event was attended by 250 people, and Ihe presenters engaged the audience in an active Q&A. . EDUCATION FOR PUBLIC BENEFIT An important aim of the GHFP'S work is lo understand how public education can enable people lo live a rich, meaningful and flourishing life and in turn to contribute lo a peaceful world. Over lime, we have developed an innovative vision of Human-centred Education (HCEI which aim5 at the Cultivation of students. holistic well-being and their development as whole human beings. We are particularly interested in encouraging human-centred values, principles and practices necessary for transforming the public educational system so that it can create a humanising structure and environment for our students and teachers. An aspect of HCE is ethical education which can help students become more able to care for and respect one another, care for learning, and care for the flourishing of community and the bellerment of the world around them. Through research, publications, conferences, workshops. seminars and project support, the GHFP strives to promote an education that prioritises human flourishing that is connected lo the thriving of communities. Ethics Education Fellowship Programme: Phase11 Today children and youlh live in an increasingly globalised world, where the potential for learning and collaboralion around common issues of concern among people of different cultures and religions is enormous. Ethics Education provides a unique approach to human flourishing in a context of global interdependence, as il promotes mutual understanding and respect for people of diverse cultures, religions. and beliefs. Ethics educalion is built around common ethical values of solidarity and human fraternity. which empowers children to develop their sense of purpose, meaning. and elhical fesponsibility in an inlerconnecled world. Increasing focus on education programmes and pedagogical and dialogical approaches thal cultivate ethical values as well as inlercullural and inlerieligiousl interworld view dialogue, learning and collabofalion is crucial lo implement and achieve the Suslainable Development Goals (SDG}, particulaily target 4.72, which aims lo promote a cullure of peace and non-violence. global and democratic citizenship, and appreciation of cuflural diveTSlty. There is a need to prioritise and invest in ethics education in formal 2nd non-formal educalion systems, contribute to building more inclusive, respectful, and resilient societies, where children are equipped to respond lo ethical challenge5 and become active citizens. GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Ethics Education Fellowship programme seeks to strengthen the sustainable delivery of ethics education programs for children in formal education settings to advance global citizenship and build more peaceful and inclusive socielies. Following the successful pilot in 2022-2023, this year the GHFP continued its support to the Phase11 of Ethics Education Fellowship Programme (EEFP). Ethics Education Fellowshi Pro ramme 2024 Conference The Ethics Education Fellowship Programme concluded its first phase marked by an international event - the Convening of Champions meeting held in April 2024 in Abu Dhabi. The event gathered senior representatives from Ministries of Education, UNESCO offices, partner organizations, religious leaders and internalional experts. During the event. international participants and Ethics Education fellows reflected on the ways that the Programme has been meaningful to bringing transformative changes to teachers, learners, and formal education institutions. These efforts have significantly contributed lo strengthening global cttizenship and building more inclusive, peaceful societies. This vibrant event served as a hub for discussing the critical importance of priorilizing and investing in Ethics Education. Children's heartfelt leslimonials illuminated the room, while participating countries made promising commitments to ¢ontinue their support. 11 was a celebration of a pivotal milestone. ¢losing the first phase and paving the way for th8 second. G20 Interfalth Forum Edu¢ation Worklng Group In July 2024, the GHfP Institute hostèd the G20 Interfaith Forum Edvcalion Working Group Symposium in Oxford, focusing on the Centrality of Harmony in Education. The G20 Interfaith Forum serves as an annual platform for religious institutions, faith organizalions, and interfaith communities to collaborate on key agendas set by G20 leaders. Scherto Gill chairs the G20 Interfaith Forum {IF20} Education Working Group. The group seek5 to bridge global religious, faith, and inlerfarth organizations with G20 leaders in shaping educational policymaking. During the Forum, participanls explored how hamony in education can foster interfaith and intercultural collaboration, advance positive peace, promote inclusive citizenship, enhance climate awareness, and encourage co-flourishing with nature. The dialogue aimed lo address Ihe theme of G20 2024.. Just World, Sustainable Planet, engaging key prioritie5 of inclusion. social and environmental su5tainabilily, and global governance. The baGkdrop of the symposium is the global epidemic of physical and mental ill-being amongst young people, the imminent collapse of ecological systems, and the proliferation of violence. 11 calls for a shift towards a focus on Harmony in Public Education, ralher than fragmentation and inslrumentalisation. The participants of the symposium propose that the Harmony, and the deep relalionality and interdependence which il emphasises, can serve to focus the priorities of education on co-flourishing by simultaneously nurturing the of well-being of humanity and the wellness of the natural world of which it is a part. Thus, Hamiony-focused education ensures that children and young people will come to appreciate symbiotic interdependence between oneself, other people, the more-than-human in nature, and the Iransoendenl, and lo recognise the ethical imperatives for action which harmony and interdependence insist upon. The outcome of the Symposium is an Education Policy Brief. Subud Education Association {SEA) SEA has continued to use GHFP'S grant lo further its charitable, professional, and educational aims. At this lime, SEA have two major subcommittees - the Subud Education Fund {SEFI and the Educational Consulting Group IECGI. The SEA can extend human-centred education vision lo Subud educational projects worldwide. SEA can truly help advance GHFP'S objectives in education. This year GHFP provided funding towards a Researcher to compile a directory and guide for online courses. C. RACIAL HARMONY AND COLLECTIVE HEALING GHFP'S work in this area focuses on creating spaces for new forms of encounter. dialogue, understanding and appreciation. We recognize that deep dialogue entails conslrucling trusting and non-judgmental spaces, compassionate listening, and ethically engaging whole pefsons. We believe that such inleraclions can conlribute to healing the wounds of past violence, enhance Tacial harmony. strengthen social iustice, and inspire communal well- being. GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 UNESCO Collective Healing Initiative As the Coordinator of UNESCO Collective Healing Initiative, the Global Humantty for Peace Institute plays a significant role in advancing the Initiative's objectives. Al the start of 2024, the Inslitlrle revisited the lessons drawn from the Intergenerational Dialogue & Inquiry (IDI} pilols. These insights enabled us to refine and consolidate our approach into a coherent IDI methodology. This framework served as the cornerstone for integrating the conception of collective healing into the Collective Healing Circle {CHC} programme. This is the core of the UNESCO Collective Healing Initiative. acit -Buildin for Communi Facilitators Building on our research and pilot, the Institute, in collaboration with the GHFP'S team. conducted CHC capacity- building for 28 facililalors representing 14 countries across four continents. Over the course of six days, the professional developmenl sessions-offered in English, French, Portuguese, and Spanish-provided facilitators with the theoretical grounding, spiritual enrichment, practical guidelines. and reflective spaces necessary lo implement the CHC workshops in their local communities. The sessions brought together 28 participants from across four continents, including representatives from Brazil, Colombia, Costa Rica. Uruguay, USA, Mexico., Martinique & Guadeloupe., France. UK and Gemiany. and Kenya, Nigeria and Cameroon, enhancing their skills in lacilitaling collective healing processes. The capacity-building setved lo equip facililalors not only with nuanced understandings but also new skills in terms of how lo adapt the CHC model lo diverse sociocultural and political contexts. Following completion of the capacity building programme, participants continued to develop communily-rooted UNESCO Collective Healing Circles, with the ongoing guidance of experienced UNESCO Collective Healing Mentors. Ilective Healin Circles in Global Communities Following Ihe Capacity-Building, these facililalors, supported by our coordinating team and local partners, proceeded to tailor and implement CHCS in 14 sites. Each workshop engaged 15-25 intergenerational participants, culminating in stakeholders, meetings that drew in even broader segments of society. CHC incorporate four processes, mirroring the four components of collective healing.. 1. Acknowledging our common past & recognising intergeneralional legacies and trauma., 2. Affirminglresloring human dignity through identifying cultural wisdom and communal resourcés for healing and resilience,. 3. Transforming na￿atiVeS, and bridging inlercommunal relationships,. 4. Envisioning and activating our shared fulure(s). The CHC starts with a series of pre-programme inquiries, including Irusl-building and community mapping, which are essential for conlextualising, adapting and localising the programme. The CHC itself is characterised by experiential activities such as listening, sharing, remembering, and re-slorying lo acknowledge legacies of dehumanisalion and draw lessons from the past. Rememberinglre-storying during the CHC is carried out through intergeneralional dialogue and inquiry (IDII. 11 helps recover and restore wisdom and knowledge of previous generations to benefit the present, and help communities to envisage and action belter, more just futures. To conclude each CHC, communities convened educators, social workers, activists, NGO professionals, business, religious and political leaders, and others will come together to explore the ways that these shifts in consciousness can initiate conversations about social justice, and structural change. These stakeholder meetings offered a public space where all were able lo consider their responsibility for supporting systemic transfomialion necessary for the well-being of all. These CHC experiences are proving iransformative. Most are led by women facilitators and aimed to nurture youlh voices and accentuate elders, wisdom. while advancing social transformalion-direclly reinforcing UNESCO'S strategic priorities, particularly for Africa, gender equality. youth, and the SDGS (notably 3, 5, 10, and 11). Conlribulin lo UNESCO'S events The success of Ihese efforts has prompted growing interest from communities worldwide, eager lo participate in this important inilialive. We deeply appreciate UNESCO'S ongoing partnership in extending the global reach of this work. The CHC communilies, stakeholders shared their experiences during the 30th Anniversary of the Routes of Enslaved Peoples, and enabling CHC facilitators from Africa and the USA to demonstrate IDI al Ihe UNESCO Glob21 Forum 2024, has greatly enhanced our collective impact. GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 UNESCO S osium on Understandin the Harms of Dehumanisalion This year, the GHfP Institute hosted a major UNESCO symposium in January held at Virginia Union Universily. Richmond, VA. USA. The Symposium was attended by 35 contribulors, including scholars, researchers, practrtioners, activists, religious leaders, and polrticians. Notably. amongst the contributors were Prof Ali Moussa lye, CoryFounder, Afrospectives, fomerly Chief of Dialogue al UNESCO SHS, Prof Benjamin Bowser, a leading voice of collective healing at University of California, Wincenl DeForesler, the co-crealor of Afro-American Bicentennial Corp. operated under the National Park Service, Prof Hakim J. Lucas, President of Virginia Union University. and Virginia Democratic Delegate Delores McQueen. The focus of the dialogue was Understanding and Addressing Harms of Inhumanity. The contributors explored Ihe nature of dehumanising harms le.g. slavery, colonisation and other forms of slruclural injustice and oppression). and the multi-dimensional damage. It focuses on the spiritual dimension of such harm, which is seldom documented, and exlremely complex to understand and to address. The dialogue also investigates how harms of inhumanity impacl peoples of African descent {both on the Africa Continent and in the diasporas) and people of European descents (both in Europe and in other parts of the worldl. Further discussions also reflect on continued harm through local, national and transnational institutions and how they inflict wounds on peoples of African and indigenous descent and cause Iransgenerational trauma. Collective Healing Inrtialive's activities were presented during the symposium as a case study alongside other practices, including traditional healing work through arts, music, rhythms and movements, as well as spiritually inspired healing approaches including rituals, contemplation, religious practices, and nature-inspired healing practices. UNESCO S m osium on Well-Bein of Future Generations.. A Co-croalive A roach In June, the GHfP Institute co-convened. wilh UNESCO Social and Human Sciences {SHSI Sector, a keynote plenary session on Well-Being of Future Generations.. A Co-crealive Approach during the annual Wellbeing Economy Forum in Reykjavik, Iceland. Amongst the speakers wa5 Mrs Gabriela Ramos, the Assistant Director General of UNESCO SHS sector. UNESCO SHS has extended expertise in co-conslructing just, inclusive, and resilient societies, and recognises that concerted global effort is imperative to reframe the present existential crises as an opportunity for inclusive inler¢ullural and intergenerational dialogue, and Gross-boundary collaboration as th8 basis for well-being governance. Moderated by Scherto Gill, the panel made up of inlernalional, nalional and young leaders focused their dialogue on understanding how diverse political, social and grassroots actors can collectively respond lo the mynad global crises and co-imagine ¢ommon pathways for enhancing the well-being of present and future generations. licalions Scherto Gill led the research, developmenl and publication of Collective Healing.. Towards Just Societies Handbook for Facililalors & Co-creators. This Handbook is intended lo support the efforts of facililators and other professionals who are interested in hosting a Collective Healing Circle (CHCI Programme in their local community, as part of the UNESCO'S Collective Healing Initiative. The intellectual insights underpinning the CHC Programme proposed in this Handbook are drawn from contemporary research on historical atrocities, such as the Iransallanlic trade of enslaved Africans. colonialisalion, and mass killing and violent displacement of Indigenous peoples, as well as the legacies of racism and structural injustice. The practical ideas for implementing the CHC Programme featured throughout the Handbook are inspired by existing proven approaches of similar programmes, and those which have emerged from a one-year pilot of the Programme in different communities. The handbook was officially launched al the UNESCO Headquarter in Paris on 10th October 2024, by UNESCO Assistant Director-General Mrs. Gabriela Ramos on the occasion of the 301h Anniversary of UNESCO'S Routes of Enslaved Peoples. The launch was bolstered by in-person reports from community partners and facilitators of CHC workshops from Nigeria, USA, UK, France and the Caribbean. Amongst those in the audience at UNESCO HQ were global leaders, national delegations, and civil society representatives. UNESCO Symposium's dialogue in Richmond, VA. had deepened our understanding of what conslitules healing wounds, and how healing wounds can help confront structural injuslice, and enable communities to co-imagine ethical pillars for systemic transformation. These insights logether with olher similar programmes will be captured in a book to be published by DeGruyter-Brill in 2025 GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ingoma Nshya (One Drum Per Girl) Festival Rwanda This year we again sponsored the joyous One Drum Per Girl Festival in Rwanda. Ingoma Nshya Festival has now become a recurring quarterly rendez-vous for two hundred and sevenly-five girls from eleven primary and secondary schools. Through powerful creative works, they demonstrate their talents and reilerale their commitment lo achieving gender justice in the creative and cultural industries. This the fifth edition of the Ingoma Nshya Festival which was celebrated at Kamena Stadium in Huye District. Resources for Hope: Life History Research in Hungary Recognising thal unless historical traumas are processed and healed by one generation, they are passed on to the next, and realising Ihal 20th century ideologies in Hungary have shaped indiwduals, life paths and that political conflicts have prepared the ground for continuing violence by representing the 'olher' as less than human, the GHFP has embarked on a research project that aims to get behind the ideological masks of people and feslore their human faces. Overseen by the GHFP'S Chairman, Sharif Islvan Horthy, the project seeks to construct a space for telling and listening lo life stories of ordinary Hungarian people who come from different backgrounds and generations. This life history and narrative process is intended lo help unfold how Hungarians see Ihems81ves and Iheir recent collective past. and what being Hungarian means lo them in the 21st Century. Thus, Resources for Hope IRfHI focuses ils analysis and reflection on the nairalive processes and the participants, experiences of change in their perception of self-idenlily, their stories and the ways they see themselves, others and the SOCI￿eConoMiC and political situations in Hungary. In this way. the research processes. especially through non- judgmental and open listening. have enabled the participants lo discover the underlying causes of current (social and political} atliludes. Whilst encouraging the participants to narrate their own lives and listen and allend to the stories of others, this research offered an opportunity for the community lo re-vision Hungary's social future. In 2024, the team's focus was crafting the book of narratives into Hungarian and English. Ilnter}R81igious Harmony and Spiritual Growth To advance the concept of positive peace and interreligious harmony, the GHFP supports initiatives and projects that can enable a better underslanding of spirituality and inspire a better integration of a spiritual dimension in personal and communal lives, social policies and inslitulional practices. Vve also present our ideas on positive peace in international forums and share them with other institutions through dialogue and publi¢alions. ortin iritual Growth Throu h Publishin Words of Wisdom This year, the GHFP continued to support the translation and publication of 'Bapak's Talks., or words of wisdom from Muhammad Subuh Sumohadiwidjojo, a Javanese spiritual leader and the founder of a global interfaith movement. Bapak's Talks explore the ways in which the inlerreligious spiritual experiences of the atihan la Javanese word meaning spiritual practice) can have applications in our everyday lives. The translations and publications of the series of "Bapak's Talks. include English, Russian, Portuguese and French editions which are shared by a worldwide readership. These books help inspire people to embark on a spiritual journey of inner positive peace and personal transformation through which lo sow the seeds of social innovation and positive change in the world. Likewise, they serve lo further the GHFP'S objective of enriching (inter}religious harmony. A Narrative of Love In 2024, the GHFP was joined by the Fetzer Inslitute, to sponsor interdisciplinary research on how science and spirilualily might concertedly offer insights into principles and practices of love. The main areas of consideration were.. To explore love from mystical, cosmological and relational perspectives To review research on love that arises (or does not) between a mother and her child from pregnancy to birth To investigate love that arises (or does not) belween a mother and her child from O to 5 To examine research on love that is lost in early childhood adverse experiences The research team developed the collections of papers into 2 books, including." Book 1 Love Arising wrilten by David Cadman, and Book 2 on Love at the Roots of Flourishing written by Antonia Gergen and Paula Lopez Ramos. This research has helped demonslrale how spiritual values, such as love, compassion and empathy, can inspire human relalionships and interreligious harmony. This can truly further the relevant GHFP'S objective. GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Subud USA Historical Society This year, recogni5ing the importance of taking a long-view of spiritual movements, such as Susila Buddhi Dhamia ISUBUD}, the GHFP sponsored a Us-based archive cenlre to create an historical society and serve as a hub of activities relating to the history and future of the spiritual movement, Subud. Through this development, Ihe Historical Society will be able lo launch the following activities, including: al Arrangelhost regular meetings at the Amani for Subud members on Ihe Subud experience and the history of Subud, as well as periodic workshops and forums open to the public about spirituality and other themes relevant to Subud. bl Collect historical materials pertaining to originalion of Subud and the growth of the Subud communrty. cl Enable people to share their stories about their experiences in Subud and their life narralives through zoom conversations, inlerviews, and wrillen submissions. dl Host open-house events together with the Washington DC group. el Facililale events and exhibitions at Subud congresses. n Build and manage a website as a platform for presentation of the official Subud archives and other historical materials. This grant has proven lo be impaclful as it helped to catalyse an innovative way for spiritual movements to ensure historical and cultural continuity, enable the intergeneralional transmission of human values, wisdom and praclices, and contribute to the spiritual development of future generations. Grant for Youth Participation in Subud World Congress 2024 Subud is an inlernalional, mulli-faith spiritual movement founded in Indonesia by Bapak Muhammad Subuh Sumohadiwidjojo in the 1930s. It cenlers on the latihan kejiwaan, or "spiritual training,, a practice of spontaneous spiritual exercise where members experience a connection to a universal life force or Almighly God. The Subud World Congress is a large, quadrennial international galhering of members from the Subud spiritual movement, held to bring members together for spiritual practice (lalihan}, cultural activities, and to address the organizalion's global administrative and developmental matters. This year, the GHFP supported Indonesian youth's Iravels lo attend the Subud World Congress 2024 held in Central Kalimantan, Indonesia. With the grant, over 200 Subud members, the majoriiy of who are youth, had the opportunity to deepen their understanding of Subud as a spiritual movement. In addition, they participated in the spiritual practices on a daily basis throughout the Congress. Apart from meetings, latihans. and inleraclions with new andlor old Subud brothers and sisters from different countries, there were other programmes which helped the youth to gain more awareness of the life of the founder of Subud, Muhammad Subuh Sumohadiwidjojo, his vision for Subud and the Subud's spiritual mission for the world. D. GHFP COLOMBIA'S ACTIVITIES {20241 In 2024, GHFP Colombia continued lo consolidate its mission of advancing human-cenlred education and fostering spaces of learning, dialogue, and community flourishing. The year was marked by both significant infrastructural improvements and sustained programme development. underpinned by careful financial stewardship. One of the most visible achievements was the second phase of repairs lo the Great Hall, the heart of the Cenlre's educalional and cultural aclivilies. This ambitious project involved the repair of 26 doors, 18 windows, and four entrance naves, alongside a complete repainting of the walls. The slruclural integrity of the Hall was reinforced through the repair of 21 guadua Ibambool supports and the replacement of 25 others, together wilh four new beams. To improve accessibility and safety, a new emergency exit was built, complemented by a ramp for disabled access. Iwo new access doors, and a resurfaced floor. The main cafeteria and its auxiliary counterpart were also remodelled, creating more welcoming and functional communal spaces. These physical Iransformalions not only revilalised Ihe Centre's facilities bul also symbolised GHFP Colombia's commitment lo creating an environment conducive to relational learning and collective well-being. Alongside the infrastructural works, GHFP Colombia deepened its commitment to Human-centred Education {HCE}, a pedagogical approach rooted in the dignity of every learner, Ihe cultivation of Gare and mLrtual respect, and the orientation of education towards well-being. The year was dedicated not only to implementing HCE in classrooms and workshops but also to critically evaluating its impact and refining its practice. GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The HCE is one of the most importanl programmes of GHFP Colombia. It is implemented Ihrough more partner schools in La Tebaida, involving students and teachers of 9th and 10th graders {14-16-year-olds). The programme has five major components: {1) One-to-one directionlmentoring lime where a psychologist works with youth lo help them connect with their life's purpose and personal interest, and align their learning accordingly.. (21 group exploration lime where young people will discuss topics of relevance to their aspirations as well as barriers to their well-being,. (3) cognitive time that aims al enhancing young people's thinking, interreligious awareness, and capacity to dialogue,. {4) teachers capacily-building so that more teachers can work in human/r> pa of inveslmenl balances lo fund the objectives of the charity. Vvhere additional grant or other funding becomes available in any year, the trustees will consider whether or not lo expand the funding being offered during that period or lo increase the overall level of sustainable reserves. This should ensure that all immediate objeclives can be met and long term sustainability ensured. It will also give the trustees scope lo withdraw larger amounls should immediate project needs be required. The Iruslees keep this policy under regular review. Free reserves After taking account of tangible fixed assets, reslricled funds and 950/0 of inveslments. GHFP has free reserves of £705.700. Structure, governance and management The charity is a company limited by guarantee. The governing documents of the charity are the Memorandum and Articles of Association. Thé trustees, who are also the directors fof the purpose of company law, and who setved during the year and up lo the dale of signature of the financial statements were.. Mr S l Horthy Ms AAsseily MrA J Holloway Mrs l A Horthy Mr M Ridwan Prof P C Brodeur Recruitment and appointment of trustees If a vacancy arises, the trustees may appoint any eligible person as a trustee. When selecting individuals for appointment as trustees, the Iruslees will consider the skills, knowledge, and experience necessary for the effective operation of the charity. Upon appoinlmenl, trustees are provided with an induction to the charity. Regard is given to Ihe training and development needs of any Iruslees that may arise. Organisational struclure The Executive are responsible for the day lo day administration of the charity. The Finance sub-committee reviews accounts, budgets and investments and report5 to the Trustees. The major risks lo which the charity is exposed, as identified by the Trustees, have been reviewed, and procedures have been established to manage those risks. Auditor In accordance with the company's articles, a resolution proposing that Sumer Audrt be reappointed as auditor of the company will be pul at a General Meeting. 10 GUERRAND HERMES FOUNDATION FOR PEACE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Disclosure of infomiation to auditor Each of the Iruslees has confirmed that Iheie is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps lo identify such relevant information and to establish that the auditor is aware of such information. The trustees, report was approvéd by the Board of Trustees. Mr S l Horthy Trustee Date.. 30th October 2025 11 GUERRAND HERMES FOUNDATION FOR PEACE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Iruslees, who are also the directors of Guerrand Hermes Foundation For Peace for the purpose of company law. are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company Law requires the Irustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are rèquired to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP: make judgements and eslimates that are reasonable and prudent.. and prepare Ihe financial stalemenls on Ihe going concern basis unless it is inappropriate to presume Ihal the charity will continue in operation. The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the Companies Act 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 12- GUERRAND HERMES FOUNDATION FOR PEACE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GUERRAND HERMES FOUNDATION FOR PEACE Qualified opinion We have audited the financial statements of Guerrand Hermes Foundation For Peace {Ihe 'charity'l for the year ended 31 December 2024 which comprise the statement of financial aclivities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 R8POrting Standard applicable in lh8 UK and Republic of Ireland (United Kingdom Generally Accepted Acwunling Practice). In our opinion, except for the possible effects of the rnatter described in the Basis for Qualified Opinion section of our report. the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with Ihe requirements of the Companies Act 2006. Ba$1$ for qualified opinion We were unable lo obtain sufficient appropriate audit evidence in respect of the value of the donated asset included within freehold property additions in the year. Consequently we were unable to determine whether any adjustment lo this amount was necessary. We conducted our audit in accordance with International Standards on Auditing {UK} (ISAS {UK)l and applicable law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit of the financial stalements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled oilr 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 qualified opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees, 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 idenlified any material uncertainties relating lo events or conditions that, individually or collectively, may ¢asl significant doubt on the charity's ability to continue as a going ¢on¢ern for a period of at least twelve months from when the financial slatements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to goin9 concern are described in the relevant sections of this report. Other infomiation The other information comprises the information included in the annual report other than the financial slatements and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslated. If we identify such material inconsistencies or apparent material misstatements, we are required to delemine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatemenl of this other information. we are required to report that fact. As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the value of freehold property additions during the year. We have concluded that where the other information refers lo the fixed asset addition or relaled balances such as income, il may be maleiially misstated for the same reason. 13 GUERRAND HERMES FOUNDATION FOR PEACE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GUERRAND HERMES FOUNDATION FOR PEACE Matters on which we are required to report by exception In respect solely of the limilation on our work relaling to the value of a fixed asset property addition described above.. we have not obtained all the information and explanations that we considered necessary for the purpose of our audit-, and we were unable to determine whether adequate accounting records had been maintained. We have nothing to report in respecl of the following matters in relation to which the Charities (Accounts and Reports} Regulations 2008 require us to report lo you if, in our opinion.. the information given in the financial statements 15 inconsistent in any material respect with Ihe trustees, report., or the financial statements are not in agreement with the accounting records. Responsibilities of trustees As explained more fully in thé slalemenl of trustees, responsibilities. the trustees, who a￿ also the directors of the charity for Ihe purpose of company law, are responsible for the preparation of the financial slatements 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 matérial misslatemenl. whether due to fraud or error. In preparing the financial slatemenls, the trusteés are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applirAble, matters related to going concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial Statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from malerial misslalemenl, whether due to fraud or error, and to issue an auditorfs 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 delect a material misslalemenl when it exists. Misstalemenls Can anse from fraud or error and are Considered material if, individually or in Ihe aggregate, they could reasonably be expected lo influen the economic decisions of users taken on the basis of these financial stalemenls. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibililies, outlined above, lo detect malerial misslalements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud. is detailed below. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non- compliance with laws and regulations, our procedures included the following.. Obtaining an understanding of Ihe legal and regulatory framework that the chariiy operates in, focusing on those laws and regulations that had a direct effect on the financial statements and operations., Oblaining an understanding of the charity's policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud,. Discussing among the engagement team how and where fraud might occur in the financial slalemenls and any potential indicalors of fraud through our knowledge and understanding of the company and our sector- specrfic experience. As a result of these procedures, we considered the opportunities and incentives that may exist within the charity for fraud. We are also required lo perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as Ihose most likely to have an impact on the rinancial statements." health & safely, employmenl law, the valuation of investment properties and compliance with the UK Companies Act and the Charilies Act. In addition to the above. our prO￿dureS to respond to risks identified included the following.. 14- GUERRAND HERMES FOUNDATION FOR PEACE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GUERRAND HERMES FOUNDATION FOR PEACE Making enquiries of management about any known or suspected instances of non-compliance with laws and regulations and fraud., Reviewing minutes of meetings of the board and senior management,. Challenging assumptions and judgements made by managemenl in their significant accounting estimates., and Auditing the risk of management override of controls, including through tesling journal entries and olher adjustments for appropriateness. Due lo the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even Ihough the audit is properfy planned and performed in accordance with the ISAS (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is lo become aware of il or to recognise the non-compliance. A further description of our responsibilities is available on the Financial Reporting Council's website al.. https'.11 www.frc.org.ukJauditorsresponsibililies. This description forms part of our audilor's report. Use of our report This report is made solély io the charity's trustees, as a body, in accordance with part 4 of the Charities IA¢¢ounts and Reports) Regulations 2008. Our audit work has been undertakèn $0 that we mighl slaté to the charity's truslees those mallers wé are required to stal8 lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilily lo anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Kristina Perry FCCA (Senior Statutory Auditor) for and on behalf of SumerAudit Chartered Accountants sta￿tOry Auditor Worthing Sumer Audlt Is the trading name of Sumer Auditco Llmited Sumer Audit is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 15 GUERRAND HERMES FOUNDATION FOR PEACE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Totsl 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Other income 628,293 1,320 233 21,740 156,415 784,708 1,320 233 21,740 116,293 648 438 378,566 157,767 274,060 648 438 378,566 Total Income 651,588 156,415 808,001 495,945 157,767 653,712 Expenditure on". Charitable activities Other expenditure 876,606 22,422 226,095 902,701 22,422 804,151 186,335 990.486 12 Tolal expgnditure 699,028 226,095 925,123 804,151 186,335 990,488 Net gains on investments 13 2,177,195 2,177,195 1,212,215 1,212,215 Net Incomel{expendlturel 2,129,753 {69,6801 2,060,073 904,009 {28,568} 875,441 Transfers between funds (54,168) 54,168 Net movement in funds 2,075,585 {15,5121 2,060,073 904,009 {28,588) 875,441 Reconciliation of funds: Fund balances at 1 January 2024 10,080,600 15,512 10,096.112 9,176.591 44,080 9,220,671 Fund balances at 31 December 2024 12,156,185 12,156,185 10,080,600 15,512 10,096,112 The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. 16- GUERRAND HERMES FOUNDATION FOR PEACE BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets Inveslment property Investments 15 16 17 589,408 606,400 10,859,987 3.050 606,400 9,182,792 12,055,795 9,792,242 Curront assets Debtors Cash at bank and in hand 18 276 417,758 22,699 655.500 418.034 678,199 Crodltors: amounts falling duè within one year 19 91,403 143,726 Net current assets 326,631 534,473 Total assets188s Current liabllltles 12,382,426 10,326,715 Creditors: amounts falling due after more than one year 21 1226,241) {230,603} Net assets 12,156,185 10,096,112 The funds of the charity Reslricled income funds Unrestricted funds 23 15,512 10,080,600 12,156,185 12,156,185 10,096,112 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024. although an audit has been carried out under section 144 of the Charities Act 2011. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 wilh respect lo accounting records and the preparation of financial slatemenls. These financial statements have been prepared in accordan￿ with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 30th October 2025 Mr S l Horthy Trustee Company registration number 05002640 {England and Vvales) 17- GUERRAND HERMES FOUNDATION FOR PEACE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notss Cash flows from operating activities Cash absorbed by operations 27 {147.342) {485,409) Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Proceeds from disposal of investments Investment income received (587,0001 834,600 500,000 233 438 Net cash {used inllgenerated from investing activities (86,767) 835,038 Flnanclng activities Repayment of bank loans (3,6331 13,846) Net cash used In flnanclng activities {3,6331 (3,846) Net Idecrease)lincrease in cash and cash equivalent8 1237,742) 345,783 Cash and cash equivalents at beginning of year 655,500 309,717 Cash and cash equivalents at end of year 417,758 655,500 18- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information Guerrand Hermes Foundation For Peace is a private company limited by guarantee incorporated in England and Wales. The registered Offi￿ is 199 Preston Road, Brighton, BN1 6SA. The charity is a public benefft entity. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2008, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102"} and the Charities SORP 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102)" (effeclive 1 January 2019). The ¢harily is a Public Benefit Entity as defined by FRS 102. The financial slalements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared under the historical cost ¢onvenlion, modified lo include investments and investment properties al fair value. The principal accounting policies adopted are set out below. In May 2024 a merger occurred between the charity and The Lewes New School Limited {charily number 10800241. The financial slalements have been prepared in accordan￿ with merger accounting rules, with the assets, liabilities and funds of the combining charities aggregated for the year to 31 December 2024 and for the comparative period. 1.2 Prior perlod error A prior period adjustment has been made to reclassify £605,400 of fixed assets to investment properties, and lo reclassify £20,379 of the bank loan balan￿ from amounts due in less than one year to amounts due in more than one year. 1.3 Going concern Al the lime of approving the financial statements, the trustees have a reasonable expeclalion that the charity has adequate resources lo continue in operational existence for the foreseeable future. There are no material uncertainties about the charity's ability to continue. Thus the Iruslees continue lo adopt the going concem basis of accounting in preparing the financial statemenls. 1.4 Charitable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise fund5 which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are sel out in the notes lo the financial stalemenls. Reslricted funds are subject to specific conditions by donors or granlors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial statements. 1.5 Income Income is recognised when the charity is legally entitled to it after any performan￿ conditions have been met, the amounts can be measured reliably, and it is probable that income will be re￿ived. Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached lo the granl and are yel to be mel, the income is reoognised as a liabilily and included on the balance sheet as deferred income to be released. 19- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) Cash donations are recognised on receipt. Other donalions are recognised once the charity has been notified of the donation, unless perfomance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gifi Aid or deed5 of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or othetwise if the charity has been notified of an impending distribution, the amouril is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Donated gifts and assets are recognised in income when the criteria for their recognition are met. These assets are measured at their fair valu8 unless it is impracticable to measure reliably the fair value of the donated item. 1.6 Expendlture Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, it is probable that a Iransfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by adivity. The costs of each aclivily are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs altribulable to a single activity are allocated directly to thal activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis consistent with the use of resouices. Central staff costs are allooaled on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.7 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assels less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fittings Not depreciated 250/0 reducing balance per annum The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds and the carrying value of the as5el, and is recognised in the statement of financial activities. There is no charge for depreciation in respect of the freehold or long leasehold properties, as the residual value is expected to be at leasl equal to cost. 1.8 Investhient property Investmenl property, which is property held to earn rentals andlor for capital apprecialion, is init1211y recognised al cost. which includes the purchase cosl and any directly attributable expenditure. Subsequenlly it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profil or loss. 1.9 Fixed asset investments Fixed asset investments are initially measured al transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditure) lor the year. Transaction costs are expensed as incurred. 20- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.10 Impairment of fixed assets At each reporting end date, the charity reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaimient 105s. If any such indication exists, the recoverable amounl of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.11 Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held with banks. 1.12 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments ar8 recognised in th8 charity's balance sheèt when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities ale offset, with the nel amounts presented in thé financial stalemenls, when there is a legally enforceable right to sel off the recognised amounts and there is an intèntion lo settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc financlal assets Basic financial assets, which include debtors and cash and bank balance5, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslitules a financing transaction, where the transaction is measured at the present value of the fulure receipts discounled al a market rate of interest. Financial assets dassified as receivable within one year are not amortised. Baslc financial liabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carned at amortised cost, using the effective interest rale method. Derecognition of financial liabilitie5 Financial liabilrties are derecognised when the charrty's contractual obligations expire or are discharged or cancelled. 1.13 Employee benefits The cost of any unused holiday entillemenl is recognised in the period in which the employee's services are received. Temination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.14 Retirement benefits Payments lo defined contribution retirement benefil schemes are charged as an expense as they fall due. 1.15 Foreign exchange Transactions in currencies other than pounds sterling are recorded al the rales of exchange prevailing al the dates of the transaclions. Al each reporting end date, monetary assets and liabililies that are denominated in foreign currencies are retranslaled at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss. 21 GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Critical accounting estimates and judgements In the applicalion of the charity's accounting policies, Ihe trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities Ihat are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors thal are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only thal period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacies Unrostricted Restricted funds funds 2024 2024 Total Unrestricled Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants Donated goods and services 25,000 16,293 25,000 172,708 100,000 16,293 100,000 174,060 156,415 157,767 587,000 587,000 628,293 156,415 784,708 116,293 157,767 274,060 Income from charitable actlvltles Unre$trfcted funds 2024 Unrestricted funds 2023 Charitable activities Research fees 1,320 648 Income from investments Unrestrfcted Unrestricted funds funds 2024 2023 Interest receivable 233 438 -22- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other income Unrestricted Unrestricted funds funds 2024 2023 Nel gain on disposal of tangible fixed assets Renlal income 359,600 18,966 21,740 21,740 18,966 Expenditure on charitable activities Charitablo activitie$ 2024 Charltable actlvities 2023 Dlrect costs Staff costs Research staff & consullanls Research activities Research travel & meetings Project travel & meetings Project costs 113,812 17,974 8,459 46,193 24,881 38,246 94,226 9,848 7,486 66,368 6,453 54,539 249,565 238,920 Grant funding of activities (see note 8} 432,691 535,413 Share of 8UPPOrt and governance ¢o$ts (see note 91 Support Governance 198.412 22,033 203,773 12,380 902,701 990.486 Analysis by fund Unrestricted funds Restricted funds 676.606 226,095 804,151 186,335 902,701 990,486 -23- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Charitable activitios 2024 Charitable activities 2023 Grants to institutions.. Arigatou International Creators of Peace Fabrica Dos Sonhos Ingoma Nshya Women Overseas Initiatives of Change l The Oxford Group Institulo Janeraka John Carden- UNESCO Future Leaders Programme Las Vegas WON Rotary Club Mario Azevedo ONG Guerrand Hermes Foundation for Peace PKK Subud Richmond Partners - HCE New Colleges Subud Publications International Spiril of Humanity Forum Steve Biko Cultural Institute Subud DR Congo Subud USAArchives Foundation Susila Dharma International The Forgiveness Project UNESCO University of Sussex Universily of Wales Yaysan Borneo Football Foundation spi 20,043 27,081 4,131 11,244 9,939 4,060 24,818 24,658 5,012 1,200 8,643 3,205 152,628 12,201 6,406 139,364 8,387 20,000 9,185 4,108 8,042 2,542 2,310 5,000 161,127 2,356 125,000 358 2,393 128,750 5,913 28,000 432,891 535,413 24- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to activitles 2024 2023 Staff costs Staff training Rates Light, heat and power Telephone Printing, postage & stationery Insurance Repairs & renewals Computer costs Cleaning Meeting costs Legal & professional fees Inlerest paid Depreciation of fixtures & fittings Other Governance costs 36,280 2,797 4,582 8,184 1,844 169 3,128 46,157 5,325 2,632 22.185 25,499 20,153 841 18,836 22,033 21,303 175 5,484 8,197 4,561 3,018 2.910 69,704 8,420 4,054 22,431 25,219 19,059 855 8.383 12,380 220,445 216,153 Analysed between: Charitable activities 220,445 216,153 Included within governance costs are fees payable for the preparation and audit ol the financial stat8ments of £16,20012023. £6,600) 10 Trustees None of the Irustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Trustee expenses were paid where appropriate and if claimed by individual trustees. During the year travel expenses of £6,51212023'. £15,199) were reimbursed to Iruslees. 11 Employees The average monlhly number of employees during the year was.. 2024 Number 2023 Number -25- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Employees Icontlnuedl Employment costs 2024 2023 Wages and salaries Social security Costs Other pension costs 134,314 6,264 9,514 102,756 4,159 8,014 150,092 114,929 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The key management personnel of the charity are its trustees, who received no remuneralion in either the current or ¢omparative period. 12 Other expenditure Unre$tri¢ted Unrestricted funds fundg 2024 2023 Bad and doubtful debts 22,422 22,422 13 Gains and losses on Investments Unrestricted Unrestricted funds funds 2024 2023 Gainsl{lossesl arising on.. Revaluation of investments 2,177,195 1,212,215 14 Taxation The charity is exempt from taxation on its activilies because all ils income is applied for charrtable purposes. -26- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Tangible fixed assets Freohold land Flxturgs and and bulldlngs fittlngs Total Cost Al 1 January 2024 Additions 57,343 57,343 587,000 587,000 At 31 December 2024 587,000 57,343 644.343 Depre¢iation and impairnient Al 1 January 2024 Depreciation charged in the year 54,294 641 54,294 641 At 31 December 2024 54,935 54,935 Carrying amount Al 31 December 2024 587,000 2,408 589.408 Al 31 December 2023 3,050 3,050 16 Investment property 2024 Fair value Al 1 January 2024 and 31 December 2024 606,400 The fair value of the investment property has been arrived at on the basis of a valuation Carried out by the Iruslees at the reporting dale. The valuation was made on an open market value basis by reference to market evidence of Iiansaction prices for similar properties. -27- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Fixed asset investments Listed investments Cost or valuation At 1 January 2024 Valuation changes 9,182,792 2,177,195 At 31 December 2024 11,359.987 Impaimient Al 1 January 2024 Disposals 500,000 At 31 December 2024 500,000 Carrying amount At 31 December 2024 10,859,987 Al 31 December 2023 9,182,792 18 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 22,423 276 276 276 22,699 19 Creditors: amounts falling due viithin one year 2024 2023 Notes Bank loans Other taxation and social security Deferred income Trade creditors Other creditors Accruals 20 4,362 4,554 3,633 2,740 117,060 9,189 903 10,201 22 579 998 80,910 91,403 143.726 -28- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Loans and overdrafts 2024 2023 Bank loans 230,603 234,236 Payable within one year Payable after one year 4.362 226,241 3,633 230,603 The bank loan is secured by fixed charges over the associated property. 21 Creditors: amounts falling due after more than one year 2024 2023 Notss Bank loans 20 226,241 230,603 22 Deferred income 2024 2023 Other deferred income 117,060 Deferred income is included in the financial slalements as follows.. 2024 2023 Deferred income is included within.. Current liabilrties 117.060 Movements in the year.. Deferred income al 1 January 2024 Released from previous periods 117,060 (117,060) 234,120 1117,060) Deferred income al 31 December 2024 117,060 -29- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 23 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and granls held on trust subject lo specific conditions by donors as lo how Ihey may be used. At 1 January 2024 Incoming resources Resources expended Transfers At31 December 2024 The John E. Felzer Institute INC. Grant 15,512 156,415 {226,0951 54,168 Prevlous year: At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 The John E. Fetzer Institute INC. Grant 44,080 157,767 {186,3351 15,512 The John E. Fetzer Institute INC. This is a collaboration between GHFP and UNESCO Social and Human Sciences ISHS) Sector lo design and launch various collective healing programmes. The co-funding for this was contributed by the Fetzer Institute. A transfer has been recognised from unrestricted lo restricted funds, due to expenditure incurred in relation to projects funded by The John E. Fetzer Institute INC. grant exceeding income. 24 Unrestricted funds The unrestrictéd funds of Ihe charity Comprise the unexpended balan￿8 of donations and granls which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incoming resources ResOU￿e$ expended Transfers Gains and losses At31 December 2024 General funds 10,080,600 651,586 (699,028} (54,168} 2,177,195 12,156,185 Previous year.. At 1 January 2023 Incoming resources Resources expended Transfers Gains and losses At31 December 2023 General funds 9,176,591 495,945 (804.151) 1,212,215 10.080.600 -30- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 25 Anatysis of net assets between funds Unrestricted funds 2024 Restri¢ted funds 2024 Total 2024 Fund balances at 31 Decembor 2024 are representod by: Tangible assets Investment properties Investments Currenl assetsl{liabilities) Long term liabilities 589,408 606,400 10,859,987 326,631 1226,241) 589,408 606,400 10,859,987 326,631 1226,241) 12,156,185 12,156,185 Unrestrfcted funds 2023 Restrlcted funds 2023 Total 2023 Fund balances at 31 December 2023 are represented by: Tangible assets Investment properties Investments Current asselsl(liabilities> Long term liabilities 3,050 606,400 9,182,792 518,961 {230,6031 3,050 606,400 9,182,792 534,473 {230,603) 15.512 10.080,600 15.512 10,096,112 26 Related party transactions ONG Guerrand Hermes Foundation for Peace is an entity registered in Colombia. For Ihe purposes of clarity these accounts refer lo the entity as GHFP (Colombial lo differentiate from the reporting charity, Guerrand Hermes Foundation for Peace, which is registered in England and Wales and is referred to as GHFP. GHFP (Colombia} shares the same Iruslees as GHFP. During 2024 grants were made to GHFP {Colombia) totalling £118.319 {2023'. £139,364). During the year, the charity received the donation of a property valued at £587,000 from Ledward Participation Corporation, a company in which Mr S X Guerrand-Hermes, who is the founder and honorary president of GHFP, has a participating interest. 31 GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 27 Cash generated from operations 2024 2023 Surplus for the year 2,060,073 875,441 Adjustments for-. Investment income recognised in statement of financial activities Gain on disposal of tangible fixed assets Fair value gains and losses on investments Depreciation and impaim)ent of tangible fixed assets 12331 (438) (359,600) 12,177,195} {1,212,215) 855 Movements in working capital.. Decrease in debtors Increasel(decrease) in creditors (Decrease) in deferred income 22,423 64,009 (117,060) 367.485 139,877} 1117,060} Cash absorbed by operations (147,342) (485,409) 28 Analysis of changes in net funds Al 1 January 2024 Cash f5ows At 31 Decembor 2024 Cash at bank and in hand 655,500 1237.7421 417,758 Bank loans (234,236) 3,633 {230,6031 421,264 {234,109) 187,155 -32- GUERRAND HERMES FOUNDATION FOR PEACE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 29 Results and fund analysis of merged charities Analysis of principal SOFA Components for the current reporting period 2024 Guerrand Lewes New Elimination of Guerrand Hermes School {pre- transactions Hemies Foundation for mergerl between the Foundation for Peace {pre- morging Peace {post- meryer) entities merger} Comblned total Total income Total expenditure 162,163 218.144 155 168,344 1153,201> {153,2011 798,884 691,836 808,001 925,123 Net incomel(expenditurel Other gainslllossesl 155,981 } (168,189) 107.048 2,177,195 1117.122) 2,177,195 Net movement in funds (55.981) (168,189) 2,284,243 2.060,073 Analysls of princlpal SOFA components for the prèvlous reportlng period 2023 Guerrand Hernies Foundation for Pea¢e Lewes New Elimination of Combined total School transactions between the merging entities Total income Total expenditure 1,100,139 962,559 360,552 778,130 {806,979) (750,203) 653,712 990,486 Nel incomel(8xpendilure) Other gainslllosses) 137,580 1,212,215 1417,5781 (56,7761 1336,774) 1.212,215 Nel movement in funds Total funds brought forward 1.349,795 8,410,017 1417,5781 753,878 (56,776} 56,776 875,441 9,220,671 Total funds carried forward 9,759,812 336,300 1,096,112 Analysis of net assets at the date of the merger 7 May 2024 Guerrand Hermes Foundation for Peace Lewes New Elimination of School transactions be￿een the merging entities other adjustments Combined totsl Net assets 9.703,676 168,109 9,871,785 Represented by.. Unrestricted funds Restricted income funds Endowment funds 8.800.836 902,840 168.109 903,201 (903,201) (361} 361 9,871,785 Total funds 9,703,676 168.109 9,871,785 -33-