Company registration Thurnber.. 07252359 Charity registration number 1137678 Byrne Family Foundation IA company lÉmited by guoran¢e¢) Annual Report and Flnandal Statements for th¢ Year Ended 31 May 2024 SRC Advknsory L 2ND Floor Styiford aate South Road BriEhion BNI 6SB Byrne FAmily Found*ilon Contents Refertnce and AdmIni8trn￿ve Det&iLg s¢rnI￿le R¢J 2106 Thi¥te& Report 7t09 Ittydent Examinerfs Report 10 Sthwneni of Adlvlii 11 to 12 Balan￿ Sheot 13 NOM ¢0 the FlnonclAI Statem¢ntx 14to24 Byrne Family Foundatlon Reference And AdmlDi8trntive Detslb Chlef Ex¢eutlve Offlter K Mr Kevin Byrn¢ Tnmt K Mr Kevln Byn RAByme L M Mrs Li5w Marie Byrnc RAByrn¢ D A Harland E L style5 DBP￿Cr S•¢r•tary Ch&rlty Reglitrntlon Number 1137378 Company Relbtrndon Nuthber 07252359 The chthty Is Ineorpornte4 in Eng1w￿ and Wal¢s. 2ND Floor st￿r01d Gal¢ South Road Bri8hton East Suuex BNI 6SB The Apple BulldlnB Ellis Squart Selsey West Sus8ex P020 OAF SRC Advlsory Ltd 2ND Floor SionfoTd G*t¢ Souih Road Brighton Elsi Su5S¢X BNI 6SB R•gtstsr•d Offlct Prkntwl Offlc¢ Ind¢p¢ndttst Examln•r P¥8¢ I Byrne F*mlly Foondatlon Str*tegk Rep)rt for the YeAr Ended 31 MAY 2024 The tr* WI￿ w¢ dirE¢kff3 fff the wp(x¢s 0rcthnp￿Y l•w, thcir *r**lc for the y¢qr ¢tMled 31 May 2024. In ompliANc¢ with s414C of th C4ynwirs Aci 2(#JS. Byrne Family Foundatio Strn¢egi¢ Report for the Year Ended 31 MAY 2024 A¢hl¢v¢ments and perfornanee Fr{￿ 1st June 2023 10 315t M&y 2024, gloFAI ewnorni&% and sthck ma￿e(S experienced a mix of Ch￿Ien&t% and recoverie5. Central banks ¢iTrntinued to rais¢ Interes¢ rates to cpmPAt innation, whith led io lighter finJncia] onditlDns ertd slower economic growth. Geopolitical ￿lOn4 parti￿18T1y between major economi¢s ereaied ut)cenainty in global markets. Supply thain disruptions persi5te¢L impauing production and distribution across vtirious industri¢5. Energy mat*et voldtility. driv¢Tr by changes in supply And demand. ¥150 played a significant role in shaping global maTket& Despite these challeng4 stLKk math p¢rfLwmed relatively wrll. Inve51or Optimi￿ and 51TQn8 eoryorat¢ e4rnings in certain seaors h¢lped buoy the markew despile periods ofvotstility and economic Ull¢&tsinty. The finwjcl￿ health of the Byrne Family Foundation SlBnifLcantly improved over the period despite the withdrawals fjjnd the continued 511PPOrt for Hope House in Bangladesh. Alter the successful ￿lId of the Girfs House a few years ba¢k the attentiot) of the Chariiylfamily tumed tOWdrd5 completing a Similar long-terni and saf¢ environm¢n¢ for the which they Committ￿ to the initi81 build in Ihe yeBr before. In additior4 the Chority provided additional for security measures and the erection of prOt¢ctI￿ wolls around Hope House. Over the r¢porting period donations wtailing £226.000 have been mad¢ by the Bym¢ F￿llY FoundRtion to allow foT the compldion of the boys. acCommod￿10n bloGk and W￿1$ 5Uftourtding ￿ Property. Now that both the girls and knys have secure and sAfe lodgin8s. there b￿rt high¢r occupancy costs ￿ a larger Dumber of children use the faGility. Th¢ Tn￿tee$ has 5Wped up. once agai￿ and tried to do Wh￿ they can kn fvtKI some of these higher Longer-term the Trustee5 believe ihat education 15 the b¢st way out of poverty a[￿ the Chority could rA)tcntially eontlnue io provide suppon by investing in a fu￿￿¢ scknol build. wluch could double ￿ a ch￿￿h. No firm plans at the current lim4 but likely w be a fi]tUTe prnjeci. E15¢where the inve3th1ertt in Worfd-wide gen¢rntlon w]tiDues to mea the Trnsiees Esfj (environmental, social and 8ovemanc¢l Criteria and th¢y ffmain kwitive abmthe long-terni benefits and potential value Foundation. The Charfty also provid￿ some funding ¢0 Arc Pathway. which will provide l(Kl nuTSCry Khools W&t Sussex with 8re8ter acc￿ to the 'early-kaming' software (via subsidy ￿ be mode availpble)- this could impact as many S.(￿￿ local children who W￿￿ldn't l*ve rKeviou51y able ￿ benefit fmm the excellent reponit)pJanalysis provided by Aw Pathwdy. The Tn]stees has u150 su¢eessfiLlly recovered Some gift-iid, which date FAck over 3 yeaTS. In previou5 T¢PPrtit)g p¢riods the awity h&% 5UPWrtd Iocol Hospices (SL Wilfred and Chesthut Tree House), Chrislm&8 H&mper Appeal$ s¢lf4efenc¢ and 'open garden, 8ponsor5hip for locAI S¢lsey resmlenty artd a charity fun run to name but a few. The Trustees contin1￿ to 5plii their th[￿tIOns towards loca] and the grea¢ work at Hope House in BangladeslL Byrne Famity FouDd#tlo Str*teglc Report for the Year Eaded 31 May 2024 FIMnel*l revknv Th¢ investmcni t￿e of Chwrity cOntin￿d ￿ be divusified fn)m th OTi#iMI C￿ #NI HLNncs¢rve shares In tll&lorKed ￿rollO of inv¢Jlments pYoF¢rty a $li¢ht derLwi%￿i￿¢Un¢ bi&$ ueDting a rnedium lo I0￿￿sk styale&v most likely to meet thc long4erni rt•jeuivesof the T￿￿1¢¢$. The wifolio includes s￿¢ locBI land IwJildin85 in s￿￿￿$t￿ This athlition￿ propu¢y in¥eth￿L provldes S￿ra&e needs for wmyher loLrnl chwiry but also a useful inwne slit￿￿. e5tim4*d at£52,11)O pfxantwm with a ￿ yield of or￿Md 6% per amum. The Tntys ¢ONiMK to W r¢t of 4% ¢9 6% rKt of ftts (bwl rollitt8 &y¢Jr avryek Such Investmen￿ conlinue to mttt with th¢ Trustees #hI￿L gxi•J and rtsp)Dsibility V•tue The pufom)8nce of the 8tsxk and sh*e F*Ytfolio over thc la# full rep)rtiD8 period w85 • posliiv¢ I1.8%{net reuirns efter jll professi￿al fees). The ￿luC of ChAri¢y'3 stock m•Tkd Invests￿ents Circa £3.4m. ott lh¢ 1st June 2023 and U.Sm by 31st Miy 2￿14. how¢ver thert tothl withdrawal$ from the inv¢s¢ment portfolio or £226.iKK), ￿ fvnd d￿table don￿10￿& wimArily direded the Hope H¢#Ae woje¢t. Und¢T the Foundati¢)n's Ani¢le5 of Asxxiatlw the Trll#ees hlve over the FoUnd￿lOn ond Its funds a58¢t5 ue rtsponsibl¢ th¢ mar4em￿l of the FouDdatiort's Talviiie& The Thtstees the pol￿1 ￿ molnthln reg¢rvcJ to erAble the 8o)d of th¢ Fwthlo The Tnwees hav¢ w￿ldered level of unreJthctu4 inethne hekl and hv¢ •150 consid¢red their 8rnni.makin8 lttienilon5 obliwi(ffl3 Ind the imp*t on *%¥e wy fithdin8 (1)liytlons 10 b¢ meL They hav¢ r¢viewed the FoUnd￿lOn.5 ope￿Ing Ind riths ￿ whlth the F￿￿th1On Is ￿Pose T￿In$ Inw il is the Tn*4' ￿110 to rethiN oui of the Fowthion's unr¢strithed incom ¥uffL¢ieni ru¢rve5 in ordw to ¢OVtt Ntlve mNths of th￿dIng fvwlromorts of wijeas. as the Foutldatlon's op¢iatLn8 eosL The ¢xec￿l¥¢ committee h85 esthblished • PDlky ofmiirtainlng • Mi•1m￿ kvel of re*ep4e5 w en￿1¢ th¢ ￿equal¢ funaioninB of the charity in order ¢0 m￿lmI5¢ the dwitabje il carries 0￿.The thwees will rethln c syffieiettt liquidity to c•bv their shcrt4•m w*ior•i •nd kny plans (dobMlions I proj¢¢tsk which involve signifi¢8nt eosL Byn￿ Famlty FoTAAdalio StrAtegk Report for the Ye•r Ended 31 May 2024 GthErThince ris* There 15 J rt5k that the IruA¢e5 are ofttKir rwNdblllUes with reprds the lows and r¢&ultitiLMS cen¢r41 obi¢rtivN adlvltles oftk thrity. The dwity Millp￿ agaiwl this rfsk by ￿$￿ing •re awue of their obli8ations u trUStr￿ and reviewin8 •nd weeing c(ffipljar￿g Whue rtwired the Iru5ttts will ideniifiy i*%ues where advic¢ Is rqui￿1 and will enswe ￿esS to wofessi(mi thiice is obthtned. FlnaKlolrlsk Thue Is 8 risk th•L thE ¢*wity hpj InsuffKitm fuThts #v*ilabk ￿ Garry Lyii¢ions And d¢v¢lopmenl Tr •bove Is mlii8atyl by the fi￿11 positithb of d￿lty, includin8 the level of re3uves SThveMm¢m Ind the wllo. TheTru5t¢u Unde￿ ID ryder r¢tsm * oudlne Ibove it will be ¢xp￿¢ p¢rftfdio a mtsjium of iisk. An inv¢sun¢n¢ proposDI hL8 beu di%ussed with Tru*es ouiliniTh8 the rne*nin% of risk in investh)eM lern?$ and how thSs Is str#)wn in th¢ allo￿1(￿ of • Frffdio. Risk risk copxity l•nd ewity io bear lossl and rijk requir￿ ￿re ¢xplaineJJ in derail. In th¢ir of iisi the Tn*ees *tyJld look ty hAve FLvifolio mwed th¢ ttitrria of In vlew of th¢ Tequlrement of J net ￿turn of 46% th¢ Inbyrnt Managw wlll xeek w rnj voI￿111ty Wh￿ poFsibl4 w rt4Ju¢¢ the ovtsall li* w vpiMI. The 5tsatr$l¢ r¢port jpwowed by the ty*1 ofthe th•rity on sl8n•l on its bdwlf by: K Mr K¢vin Chief exec e otTi¢¢r and trustrt Byrne Famlly Foundation StratsElc Report for the YeAr Ended 31 May 2024 IAve5tsMenipoll¢y tmdobJeertVLf The charitys investment objeaive5 #nd policy arr sci oui bel¢MY. Overall anrwal thrge¢ Mum Incl): The long-ium aim of th¢ inv¢stment rKrtfolio is io 8rnat¢ an annual Wal return Orbel￿reTr 4 and 6* ne¢ offecs. Capitsl.. The T￿￿¢¢3 intend th¢ rcal value within the FKrtf¢)lio thould ￿ maintsined and enhanced ovu the long Qrm at least to counteract th¢ effects of inflation defined &s gro%rfh at kasl ¢qyivDlent ￿ RPI ov¢r u I￿s]n cycl Income: There is no immedlate need for incom¢, as th¢ TNrtees are moT¢ likely lo drnw down on capitsl io fund 18rgcr prOJ￿t￿ however ihe Trustees would prefer the investments to germ* some incom4 which ideajly incTeL over time. Thc TnJs¢ees anticipate using both capital income gtttrated by the invesunerf portfolio to further tl* oim3 0( the Charity. Appoinimeni. Delegation and Re￿ieW of Inv&stsnent M￿￿er The TN5tees of the Byrne Family Fourthiion Chgrity") have 8grttd to delegale 8nd ap￿1￿1 th¢ invesiment m￿ag￿ne￿I r¢swibility of the fimds to Brighton Cppltat Mana8ement l*h¢ Investtnent man￿¢￿). It is the resFK￿slbI]lty of the Investmerit Manager to ensure tha¢ the portfoli05 are Invested and reffl¥in opproprlate lo meet the re4uiNnents as set 0￿ by thts Inv¢5kncnt Policy SttttemenL The Trustee5 will invity the Invesimoit Manager to upd* them at Icast half-yeDrly or cirtumstancu T¢qULre apd th¢ Investment ManAg¢r will advise the Tntst¢¢5 of any si8nificant ¢hoD8e to the Inve5tm¢nt Team wl¥) marw the portfolio. The Trus￿$ will advise the Investment Mona8er of any pl￿$ which will affC￿ the management of the assets held within the Portfolio. A forn￿1 Tevi¢w of the Investment MaDa8ees will b¢ undertaken every three year5. Byrne Famlty Foundatlon Trustee8' Report Th¢ who ue directors for the pUrpr￿e$ of c4Jmpany law. present the annu￿ wher with the rirton¢ia] sw¢m¢nts of thc Chwilable compllny for the yew ended 31 May 2024. The tru5tc¢s hav¢ adopted the provisions of the ￿at￿lent of Re¢omm¢nded Practice (SORPI"AccouThti￿ and Reporting by Ch&iiie5" {FRS 1021 in prewing th¢ annu￿ report &nd finJncial statem¢nL8 ofih¢ charity. Tr rirwKial 5Éatemctts have been prepwrd in ￿0[dance with the a￿o￿ntIng policies sei out in riot&s to the #ecounts and comply with the charity's gov¢rning documenL th¢ Charities Ad 2011 and Accourtting Reportlrtg by Chariii¢5: Stat¢rnent of RecomM￿ded Prnclice ￿plIC￿bIe to charities preparing their accounts in accordNnce with the F5nancial Reponin8 Standard appli￿ble in the UK and Ryblic of Irelartd published on 16 July 2014 (&$ amended by Update B￿le(In I published on 2 Feiyyary 20161. Obletdw and aetlvStt¢5 PubJl¢beftdl¢ The Byrn¢ Fomily FouttdAtion is 8 8rnnt making trust supportin8 • range of gerteral charitsble PUTPOS￿ These include the 5UPWt of disadvantaged young people and adults. by WBY of finatKial deprivatiOlI. illne55 or disability orany cause wher¢ lack of aid affects quality of life. The trustees cortfirnl that they havc complied with the requir¢ments of s￿IlDn 17 of the Chariiies Att 2011 to have due rEg&d to the public l*nefit guidan￿ published by the Ch&rity Commission for England atld Wale& The T￿￿tee$ hBve miewed ￿1r Itwestment Poli￿ iewdins the Charity Commissioners guidance on ethical dnd 3cKially responsible invc5tmeni. Th¢y have concludcd tha¢ except for diYeKÈ inves¢ment in tobac￿ #nd 8rniwnents companies th¢r¢ are specific ¢omp8Thy and indusry 2CtivitÈes which should be excluded from the portfolio on the ground5 of any dire¢t conflict with the Charity's objectiv& However. the Trustees aim to observe r¢5pon5ible inveslment principle5. The Irustees will Consider the enyironmentsj. 50eial and governance dwacteris(ics of ¢xi5ting and prOS￿￿1ve inv¢5¢ments where this 15 prathicable and proportional¢ in th¢ cortsxt of the overall irwestmeiit straiey. Trnsteu *nd orfjten The inLstecs and officers serving during year and since theyear end ￿%1¢ a5 follo K Mr Kevin Byrne RAByrne L M LI￿ Marie Byrn¢ RAByme D A Harland Twsoes.. ChiefExecutive oificcr. K Mr Kevin Byme DBPegl Byrne Family Foundation Tru8lx4' Report st￿￿￿rG governance and m#**EenWIt Nrttyr¢ ofgov¢rnli¢ The FoUnd￿10n 0￿rat¢S in aceordonce with its Articles ofAss00iation. ondtreththg of¢rusie New truMee$ are made familiar with th¢ir legal obliwions Wk1er chority law, the ointents of th¢ charity's governlng documents. the committe¢ and thisioTrmaknng procEs$ and the re¢¢nt financigl pcrfoTm#nce ofthe Charlty. Tn]ste¢s reeno)uraged ￿ attend approprlat¢ external training eV￿ts wlfft thes¢ will f8cilhthi¢ th¢ uftdertaklng oftheir rol Orgamtsodomolsirneftire D&y.ts￿day opcratiork8 are the r¢p50nsibilLty ofDiTE¢tors wtw) ar¢ also Tntyt¢u. The a¢livities of the cbarity ar¢ overseen by an Exte￿1¥¢ Commit*& whose members are appointed by the prlncippl or8anisations who w)Tk with the dwity. StAternent Qf Th￿te¢s. Responilblllttes The ¢nisiee5 (ththo are a]so the direc¢oT5 of Byrne Fkmily Foundation for the PUTposes of COMp￿Y lawl aie ruponsible for pr¢pzring the tru51e¢s' report ond the financial statements in accordance with the United Kingdom Acxouniln8 SthndArds IUnlteAI Kingdom Generajly AcceNed A¢%ounting Prn￿l￿) and applicable law and regulations. Company IDW rtquirts the trustees ¢0 prepar¢ finart¢i81 for ea¢h financ￿] year. Under company law Ihe trustees must not approve the financial statements unless are 5&tisficd ihei they give a irue and fair view of the sijte of affair5 of the charitable compgny atMI of its incoming resourtts and opplicatÈon of resou￿¢$. I￿lUding its income snd expenditure, for that period. In prepgringthese riburti￿ the trust¢¢5 are requI￿d to.. select suitable ￿OUnting policies and apply them consthntly: obseryethe methods Ind principles in the Chariues SORP; make judgements and ¢stima*S that are reuonable and prud¢n state whether applicable UK Accounting Stsndard5 have E¢eD followed. subj¢a to any m*eriNI departiires disclosed and explained in th¢ finan¢ial 5tstUnen￿ and prepart the financial Sta￿7e￿￿ on Ihe goin8 r￿c¢M basis ynless It is inappropriaie lo pmjme thut th¢ ¢hritsble ¢ompaThy will contiDue in busine5S. The bU5tee5 art Te5FM)nslbl¢ fLY keeping adequate awjunting rwrds that are sufflcheni 10 Show and ¢xplain the ¢hDrithble compAny's ¢ransa¢lion8 8xd disclos¢ with re&wnable accuracy at any time the find￿187 posiiion of ihe ¢haritable company and enable them ￿ e[￿Ure that the finanGial statrmenL% comply wth the CompBnies Ad 200& They are Also reSt￿￿ble for safe8uardinB the as8ets of the charit•ble eompany and hence for taking reasonable slep5 for th¢ preyeniion and dweciion offrnud Dnd other irrcgularitie5. Pa8¢ 8 Byrne F•mUy Foundath) Trmstees, Report its behalf by: K Mr Kevin Chief fAea*ive offi¢crqnd ¢nsee Byrne Famity Foundation Independent Examiner's Report to the trustees of Byrne Famlly FouDdatlon ("Ihe Company") I report to the chprity trusm on my ex?min*ioD of the accourtts of the Company for ihe yw ended 31 May 2024. Responsibllltles bAsl$ of report As the ¢hsrity'S trU5t¢es of the Company (￿d olso its dirt¢ts)rs for the pwp05es ol. compw law} yott ar¢ respot)5ible for the pr¢p#rarion of th¢ a￿o￿N￿ in Jc&￿￿ance the requir¢m¢nts of th¢ Comptlhes Aa 2006 ('the 2006 Aei.). Having satisfied myself ih&t ihe accounts of Byrne Famlly Foundaiion 8Te noi ttquir¢d io ￿ audiied 16 of the 2(K16 Ad and afe eligible for independ¢nl cxamination, I r¢rx)rt in respect of my examination of your ¢harity'S aw)uThts as Carried out ut)der SEcuon 145 of th¢ Ch￿illeS Act 20111'th¢ 2011 Act'l. In c￿ryIng oui my exAminJtion I have followed the Directions given by th¢ Chwity Commission uttder 3eeti¢)n 145{SKbl of thc 201 l Act. llldepeDdeDt examln¢r's stat¢D￿nI I have completed my exsmlnation. l eonfim tha¢ no ￿0￿r3 hwe ¢ome ts my attention in ¢ortne¢tiM with the exjmination Biving me ￿Yse to t¢li¢v¢: l. accouniing re￿0￿ were not kerA in ￿pect of Byme Family Found&tion as required by section 386 of th¢ 2006Acu or l the accounts do not accoyd with tlM)se r¢ctrd4' 3. the aco)unt5 do ￿pIY with ihe accounting wuir¢men¢s of section 396 ofthe 2006 Act other than 8ny requirement thjt the a￿)UnIS give a 'tn* fair Vie￿ which is not a matter considered a5 Purt of an independent examinjtion: or 4. th¢ aecounts have not been prcpgred in accordance with th¢ method5 ar￿ principles of the St81ement of R￿MMended Prwice for Bccounting and reporting by chwiti¢5 lapplicable to charilies prepwing their accounts in accord8n¢¢ with the Financid Ryrting StaTthrd applicable in the UK and Republic of Ireland {FRS 102)]. I have no ¢on¢¢rn5 and have com¢ across no o(her rn4tt#S in conn¢¢tion with the examiDalion to *thich attention S}￿lld be drawn in thi5 report in orderto enable a propBr und¢rstanding of the ￿0￿nts Lo be reache Jamie Ali ACCA 2ND Floor Styiford Gat¢ South Road Brighton Easi SLts5ex BNI 6SB Page 10 Byrne Family Foundation Statement of FiJJantial Activities for the Year Ended 31 May 2024 llellldlng Income and Expenditure Aecount and Statement ofTotsl Reeognljed Gains alld Totsl 2024 Unre5tri¢ted Note Income and ETrdowments from: Don&ions Jnd1¢8acie5 Inv¥¢meni In￿Me Ixher Incom¢ 13,014 208,701 550 13.014 208.701 550 Totd Income Exp¢nditureon: R4i5in8 fvn(L% Chtrithl¢ activities 222,265 (11.132) 226204 {11,132) Total EX￿dIt￿r¢ Fair 74alue adjwDn¢nt on current asset inve#ment (237J36} 257.883 1237.336) Nei income 242,812 242,812 Net rnoveme4Jl in fvtMLs Rewjciliation of fimds 242.812 242,812 Total furEds brought forw&rd Twl fvnd5 WTi¢d fonvatd 4,699 624 4.942 436 4,699.624 4.942.436 Total 2023 14 Unrestrleted Note Incom¢ ¥Rd Endowments from: Donations and legac￿S Invesffiwnt income 11,613 13.870) (13,870) Twjl IrKome Expenditur¢ on: charit￿1¢ a¢tivities 2257 342.122) 1342,122 Total Ex]xndiiyre Fair value adjustment on ¢urrwt a55et invutmcnl (342.122) 79.5961 {342,122) Net expendiwr¢ Net mov¢ment in fund5 Re¢on¢iliaiion of furKb (423.975 423.975 {423,975) 1423,975) Total fimds brought forward 5.123.599 The notes on 14 to 24 forni an inte8rd partof these flna￿la[ stat¢ment& Page 11 Byrne Famlly FouDdatioD ststement of FlnaD¢IAI Activlties for the Year EDded 31 May 2024 lleluding ID¢ome and ExpeDditure AccouDt and Ststement of Total Re¢ogDl8ed Gaius and Lo&qes) Totsl 2023 Unr¢slrltt¢d Not• Total funds carri¢d fonyard 14 4 699.624 All of th¢ c4wrlty's adivitles derfve from continuln8 operalion5 duAn8 tILe thve ¢wo ￿lIOd$. The notes on P￿¢S 14 to 24 fo￿ art In1¢£r￿ p￿ortheSe finan¢ial swem¢nl& Page 12 Byrne Famljy Found4tlon (Reg￿tAtIon number: 07252359) Balouee Sheet 98 Ot 31 May 2024 2024 2023 Fixed a55ets Tangible assets 10 1.259298 1,259,298 Current assets D¢btOT5 Invesknents Cash at bank arwj in hand 54.660 3,575,162 58.116 2.650 3,426.780 12 3,687,938 4,800 3.443.626 Cr¢dltr•n: Ajntsuots fAlllng wlthin on¢ year 13 3,3￿} Net ¢urrent assets 3 683,138 3,440.326 Net atsets 4,942,436 4.699 624 Funds of the ¢b•rlty: VTrrf4Med kneome funds UE)re51Tic*d fjJt¥ts 4 942.436 4.699,624 4.699.624 ' To¢al fvDds 14 4,942.436 For financiat ￿Or endlng 31 May 2024 the thwity Wa5 entitled ¢0 ¢leM￿On from 4udSt Under se￿1￿￿ 477 orth¢ Comp&fties A¢t 2(XJ6 re1￿Ing w small compani¢& DireGtorf r¢spons11)ilities.' The mem￿￿5 hav¢ not required th¢ tharity to obtwn an audli of its ￿0￿￿ts fw the year in question In t¢￿rdance with Section 476; and The dir¢aors acknowlage th¢ir respon5ibililies for ¢omplying with the requir¢ments of ihe Act with Te5pe¢t 10 a￿ouNting record5 pnd the preparation of ac￿unt￿ Th¢ finanaal statements on pa8e5 1 I to 24 werg apwoved by the trusi¢¢s, 8Th4 authtiTis¢d for issue on.... and si8ned oth their behBlf by: KMrK¢v Chi¢r iv¢ oifjcer Dnd ¢rus¢¢e The notes on Foges 14 to 24 forni on ITht￿ pjrt of these financial statemen¢s P¥8e lj Byrne Famity Follndation Notes to the FinaDciil Statsments for the Year EDded 31 May 2024 I Ckn8Tlty $¢ath$ The Charity is limited by irK0W￿ed in EnglaNI aTMI wat￿ and wwueDtly d￿$ Trmvc share ¢apiiil. Each of the tru5*¢5 is li&ble to contribule an omount Mt ¢xceedin8 £Nil wards the assets of the charity in ihe evenl of liquidalion. The address ofits regis￿ed offLC¢ IS: 2ND Floor StaDford Gate South Road Brighion E&si Sussex BNI 6SB The prirKipal place ofbusine&8 ix,. The Apple Buildin8 Ellis Squaye Selsey Sy55ex P0200AF 2 A¢toonthig polltles of slgDlfi¢allt 8ccounllni polklu and k¢y Reeounting estiwtes The priDcipAI accounling Folicies applied in the pre￿ra¢lOn of thwe fjnancial swernents ore sd out below. These policies have L*en con$istentJy applied io the years present¢d. unless ffjherwis¢ 51a*d. St*t¢meDt of eomplianee The finfjn¢iaE sthtcments have been wepaTtd in EeTL¢ wlll b¢ rec¢ived the amount ofthe irKom¢ r¢ceivai4¢cw b¢ m¢8%￿ ￿lIAblY. Don￿loIl$ ue reco8nisa wl*n ¢hwlty ￿lf￿￿ in wTitI￿ of both 4mounL settlemen¢ dat& In the eveni a donlltion is Subj￿ io th* TrqUi￿ i levd of by thc Charity b¢fott the ch•rity Is efitliled th the funds th¢ incorne 53 d¢f¢rr¢d Ind rwniw4 until eithtt those condilions are fully me( or the fjJifilm¢nt of those ¢ondilion5 13 wIK+lly within th¢ ctymroi of the thwity knd li ts probabl¢ these conditioThs wlll be fulfilled in the r¢p)rtini puk•l Interest on h¢ld on dwii is I￿luded kn receivable Ithl lhe amount be me•sured relhbly by the charity: thi% is nomi￿ty up)n T*JfifKati¢M of tk iniU¢S1 or P￿able by the bw&.Dividthds ue wAnised onc¢ thE divid*)d b¢¢n de¢l*td bew reteived of the dividvAI CharfioWe adlv1rf4S Chrithble eX￿dI(￿re costs inpxr¢d by the d￿lty in the d¢livw of its Xtivilies and servic¢s for bth*fieknries. li thsx¢ ¢o*s coss the ofthe chwiry apwuon￿I ¢hBritable activ1￿ Provisi(Ats for 8rants w¢ rn%k the hu been to the Ttdpien¢ but the Is un¢¢rtainty a￿ute1th¢r the ofthe &1￿10r of rn rAyd)l& Other ext￿ltUre i￿l￿deS ail 15 rel•ttd ￿ rBisin8 furth fty charity nor part of its exFthJitur¢ on charithble ¥iivtlie& Py15 Byrne F8mlly Found2tloA Notes to the Fln8Dcl#l Ststsments for the Yur Ended 31 M8y 2024 Support ¢oJts Support W5ts include ceniraj funclions And havc bceD allL*a*d to activity ￿51 eD*Bofi¢s ￿ a bosis cot)5iSteni wlth the use or￿30urC¢$, for example. ollocatlng property coa5 by noor aTW, OT per capil&, costs by the lime spenl ond othry by iheir us88 Gov¢rnaoce costs The3e knclude the eo*s attributable ￿ the chorfty's compliance with ￿nSIS￿Li0[￿ and stawwry r¢quir¢ments. includin8 audiL sirn¢¢8i¢ mono8ement Iru*S'S meetln8s and relrnbur5￿ expens¢s. TAXatlon The ehtirity is consldertd to pass lh¢ testg aet oul ID Pwrnph I Schedule 6 ofthe Finance Act 2010 and therefore il meets the definition of a charl￿ble compjny for UK corporniion ILX purpose& AccordinBly. the charity is poieTrtlally empi from I￿￿(10r1 in ff8pea of ine¢me or caplthl 8Jlty$ received within ule8ories covered by Chapter 3 Part I I of the Corpo￿lon Tu 2010 or Section 256 ofthe T￿allOn of Chwble Galns Act 1992, to th¢ ex*nt thol $uth In￿Me or845n5 opplied eXclusi￿lY to chJrltDbl¢ puryoscs. TAnilbl¢ Ilx¢d 8tsets Individupi fixed 855¢ts ore Init1411y Jrcorded &[ w#t. less w wbwuen¢ •¢cumutptsd dekK¢¢I￿10Tr Ind subsqueni •ccumula*d IM￿1￿7¢￿tIo*sc5. Current Amet Invutmenll Curren¢ ujei Inve51ments are I￿lUded Ioww ¢*f costand n¢t Nlispble Val￿ I mth*el v•lu& TrAde d¢btors Trade debiorn Bre amounts due from aty¢omers ftr merdwidlse sold or *rvlcu pufornied In the ordltwy Course of Trade debtots are r¢¢o8nised inilially al th¢ tr￿jaCtiOn pri¢& They are sub5equ¢nily m¢￿T￿l at amortised t¢)si using the effeciive inteTes¢ method, 1¢55 provision for imp4imenL A prnvljiun for ihc impoinneni of irnde deb￿r$ 15 e5tablithed whert Ihere is objective evidertce th&t the ¢hwity wlll not be able lo eollecl Jll Amount8 due o¢cordln8 to thE origlnAI le￿1 ofthe Tec¢ivabl¢% Cath •lld I4￿1valents Cjth and ¢￿h equivalen15 Compri￿ on hand and call deposits. and other short.terni hl8hly Ilquid Inveslm¢nts tha¢ wre Ttftdily convcrtible to a known pmount of eash and ttre subj&t to an Inyi8nifi¢ant risk of Chartge in valu Page 16 Byrne Family FMDdatloM Notss to the ThDancial Statements for the Year Ended 31 May 2024 Foreign ex¢hA Trdnsociion5 in foreign currttKies are rg>)rKkd ai Trle ofexchlnge ￿ the datr ofthe tThItsJctio￿ MOn￿Ory ￿se1S and liabiliiits denominatrd in foreign ujrrerries ot the ba[a￿e da* are fEWted at the rates of exthang¢ prevailing al that The rewlts ofover5eas 0[￿*l￿n$ ve ¢rwL%lated at awoge rat¢5 Or￿change during the perioj and their balsnce sheets at the rate5 ruling at th¢ bslanee diffauxes awing on transJ8tioo of the OPEnin8 Det (attributed w nObK4ntrolling inthrests as Other ditretu*£s are in the Slolunart of Fin*Kiol Adivilie5 in the pwiod in which they 8T1 ¢xcept for. Fund 5trudure objectives ofthe ¢hwity. FIn8ntl411s￿m¢llts cla&fIfie￿IO Financial assets aThl financial li*ilitie5 *e the dmrity becomw a rArty w the Contr?￿al ovisions of the in5trwnenL Atl fin8ncial and liabilities are initialty at wic¢ (7￿1￿11￿8 tr•waion ¢xctpt for those financi￿ assets Classified &5 at fair Ilmgh rmfii or ILW whiL* aff inititilly meagred at htr value IAve51nw&yts IrtVC5tsnents in 5ub5idi8rie5 w¢ at CO￿ less impiwL Ftr inve51Mts in sub5idi4ries acquired for ¢4)ttsideration irhcludin8 th¢ issw of slm qualifying for merw relief. cost is m¢&wred by ￿ference io T￿Inal wal￿ ofthe 51wr5 is%Kd Pl￿ fair Wal￿ of (ther<4)nsIde￿I￿ Any prnium is ign(we(L Foir The ¢wdence of f¥ir value 15 a quot￿ Fyicc an itlethirnl in ￿ x1ive ffla￿ wh￿ price5 are unavaiknbl4 Ihe pricc of a rec￿1 traNsxlton for an Édcnli¢al OWL pmvidcs evidence of fair y￿Ue a5 lon8 th¢ Ikqs not a si￿lifi￿1 change in euxbJmi¢ ¢ircumstancu or a ¥ignifi¢ani lartse oftim¢ sirLce the Iran3acikon took Pla￿ If th¢ 15 not acti￿ w¥J tranwion5 of art Mkniic•l a5*¢ their are a good e511m￿e of fairv3l￿ the fair v8luE is ¢Atmakd by t￿1￿1(￿ ie DurlnB the yetr the th￿tte Mr Kevin Byrn¢ a dtywi(ffl of £lJ(Kl behlf ofthe Chlrfty.. Al the b•1￿¢6 sheE¢ da* th •mouni due ￿ Mr Kevin Byyne £1 J(KJ (2023. £Nil).