Commerclal In Confidènce
Registered charity no 1137950
Company no 07291653
THE ANDREW GRENE FOUNDATION (UK)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

Commercial in Confidence
THE ANDREW GRENE FOUNDATION (UK)
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 30 JUNE 2024
Company number:
07291653
Charity reglstratlon number:
1137950
Princlpal office:
Nimlok House
45 Booth Drive
Park Fan
WELLINGBOROUGH
Northamptonshire
NN8 6NL
Trustees:
Mr T Perutz
Mr G Grene
Mr N Grene
Bankers:
Natwest 8ank PLC
Market Street
WELLINGBOROUGH
Northamptonshire
NN8 1AD
Solicitors:
Edwin Coe LLP
2 Stone Buildings
Lincolns Inn
LONDON
WC2A 3TH
Independent examlner:
Edward Wilson
43 Top Lock Meadows
STAMFORD
Lincolnshlre
PE9 3FF

Commerclal Sn Confldence
THE ANDREW GRENE FOUNDATION (UK)
INDEX
FOR THE YEAR ENDED 30 JUNE 2024
PAGE
Reporl of the Trustees
Independent examinor's report
ststement of flnanclal activities
Balanc• sheel
10
Not•s to the flnancial stat•mants

Commercial in Conflden
THE ANDREW GRENE FOUNDATION (UK)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
The Trustees present their report together with financial statements for the year ended 30 June 2024.
Structure. governance and management
The Andrew Grene Foundation (UK} ("AGF°) is a company limited by guarantee, incorporated in
England and Wales, and is governed by Articles of Association dated 21 June 2010.
Trustees
The Trustees. who are also directors of the charitable company for the purpose of company law, who
served the charitable company during the year were as follows:
Mr Timothy Perulz
Mr Gregory Grene
Mr Nicholas Grene
Th8 first Trustees were thos8 persons first notified to Companies House as the first Trust8es of thè
charitable company. Subs8qU8nt Trustees may be appointed by ordinary resolution or by appointm8nt
by the existing Trustees.
Risk assessment
The Trustees have assessed the malor risks to which the charitable company is exposed.
The Trustees have a formal risk management process to assess the business risks and implement
risk management strategies. This involved identifying the types of risks the charitable company faces,
prioritising them in terms of potential impact and Ihe likelihood of occurrence and identifying means of
mitigating the risks. As part of this process the Trustees have reviewed the adequacy of the charitable
company's current internal controls. The Trustees are pleased to report that the charitable company's
intemal fi'nancial controls, in particular, comply in all relevant areas with the guidelines issued by the
Charity Commission.
Objectives and activities
In accordance with its Articles the charitable company's principal objeGlives are the prevention and
reliefof poverty in Haiti and the advancement of education amongst children and young people in Haiti.
Page 3

Commercl)I In Confiden
THE ANDREW GRENE FOUNDATION (UK)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
Achievements and performance
The Andrew Grene Foundation aims to provide the possibility of transformational change to individuals
in Haiti through its projects in education and microfinance. The Foundation is named in memory of
Andrew Grene, who worked in Haiti as part of the United Nations peacekeeping mission and died there
in the earthquake of 2010.
Despite continued severe political, security and economic challenges in Haiti over this reporting period.
the Trustees are very pleased to report continued operations and strong performance of the
Foundation's secondary school and microfinance operation.
The trustees are grateful to the
foundation's exceptional local partners who have worked with courage and focus to deliver continued
Suc￿sS against significant external headwinds.
The An
The Foundation built a secondary school in 2011. the Andrew Grene High School, in a part of Port au
Prince Ihat previously had no secondary school. The Foundation works closely wlth the school's local
management, who have responsibility for day-to-day operations. The foundation covers more than 90°/0
of the school's operatin9 expenses with student fees making up th8 balance.
The Foundation's
objective is to build a "light house" institution providing the highest quality educatlon to its students. We
believe we are achieving that objective.
rew Grene Hi
h School
In the academic year 202312024 the school had 237 full time students. Exam results were again
exceptional wilh 92.80/0 of final year students passing the baccalaureate, compared to the Haitian
national average of 49.4 %
The Foundation continued to award University Scholarships to the School's most promising graduating
students enabling them to continue their further education. During this period the total number of former
students being fully sponsored through University was 13 {7 by the Foundation and 6 by external
donors).
The Andrew Grene branch of Fonkoze
The Foundation has a partnership with the well-respected Haitian microfinance organisation, Fonkoze.
In 2012 the Foundation financed the construclion of the Andrew Grene branch of Fonkoze in Aquin. on
the south coast of Haiti, an area not previously well served by micro finance.
The branch is an important part of the local community. and in the year to June 2024, provided small
loans to more than 1.694 clients (Solidarity. Business Development and SME} and had 4,404 Savings
accounts, (Regular and Term Deposits) for very poor local women. The branch also provides classes
in literacy. numeracy and basic business skills.
In August 2022, a 7.2 magnitude earthquake hit southern Haiti close to Aquin. The Foundation's
premises were badly damaged in the earthquake. but operations continue from a converted shipping
container. During this reporting period we w8r8 able to install a solar system for the Aken branch before
the roads became completely inaccessible. This has provided significant relief in terms of fuel expenses
for the branch.
We remain committed to our misslon and are preparing to respond to the community's needs once the
county moves into recovery mode.
Page 4

CommercSal In Confidence
THE ANDREW GRENE FOUNDATION {UK)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
Achlevements and pertormance (continued)
Financial Summa
In the year to June 2024 the Foundation generated total gross funds of £143,022 (2023: £151,752).
During the year the Foundation deployed £44,149 (2023: £86.240> on the above projects. Surplus funds
are held in r8s8rve for the Foundation's Endowment. The purpose of the Endowment is to provide
security that th8 Foundations commitments and obj8Ctives can continue to be met over the long run.
The Trustees report that the Foundation's administration, marketing, trav81 and other running costs
during this period, continued to be covered by a donation from P3 Group Europe Ltd. The Trustees are
very pleased and grateful that P3 Group Europe Ltd has pledged to undemrite worldwide expenses
again in 202312024. This 8nables the Foundation to continue to deploy 1000/0 of funds received directly
to its projects on the ground.
The Trustees are encouraged by the stsbility and continued success of Its projects despite the multiple
challenges facing Haltl at this time. The foundation remains firmly committed to Haitl and provldlng the
support its projects need in order to advance the objective of making a meaningful long-term difference
to the lives of those it serves.
Assats
The assets are held in pursuance of the charitable company's objectives. The net assets of unrestricted
funds amounted to £254,784 as at 30 June 2024 (2023: £248.723).
Reserves pollcy
Unrestricted reseNes at 30 June 2024 amount to £254,784 (2023: £248,723). There were no restricted
reserves at 30 June 2024 and 30 June 2023. Reserves are held to provide security 80 that the
Foundation's commitments and objectives can be met for the foreseeable future. The Trustees expect
th8se funds to be largely exp8nded in future years.
Publlc benefit
In accordance with its Articles the charitable company provides public benefit by using funds raised in
schemes and projects established for the prevention and relief of povety in Haltl and the advancement
of education amongst chlldren and young people in Haitl, without restriction.
The Trustees confirm that they have referred to the guidance contained In the Charity Commission's
general guidance on public benefit when revi8wing the charitable company's aims and objectives and
in planning future activitl8S.
Statement of Trustèés. rasponslbilities
The Trustees (who are also directors of The Andrew Grene Foundation (UK) for the purposes of
company law) are responsible for preparing the Report of the Trustees, and the financial statements in
accordance with applicable law and regulations.
Page 5

Cornmercial in Confidence
THE ANDREW GRENE FOUNDATION (UK)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2024
Statement of Trustees, responsibllltles (contlnued)
Company law requires the Trustees to prepare financial statements for each financial year. Under that
law, the Trustees have elected to prepare financial statements In accordance wlth Unlted Klngdom
Generally Accept8d Accounting Practice (United Kingdom Accounting Standards and applicable law)
including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Under company law the Trustees must not approve the financial statements unless they are satisfi8d
that they give a true and fair vlew of the state of affairs of the charitable company and of the incoming
resources and application of resources, including the income and expenditure, of the charitable
company for that period.
In preparing these financial ststements, the Trustees are required to..
select suitable accounting policies and then apply them consistently
observe the methods and principles in the Charities SORP FRS102
make judgements and estimates that are reasonable and prudent
prepare the financial statements on the going conc8rn basis unless it is inappropriate to
presume that the charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charitable company's transactions and disclose with reasonable accuracy. at any time, the
financial position of the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
In preparing this report. the Trustees have taken advanlage of the small companies exemption in
Part 15 of the Companies Act 2006.
ON BEHALF OF THE TRUSTEES
T Perutz
Trustee
Date:
Page 6

Commercial in Conhdence
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE ANDREW GRENE FOUNDATION (UK)
I report on the accounts of The Andrew Grene Foundation (UK) for the year ended 30 June 2024 which
are set out on pages 9 to 16.
This report is made solely to the charitable company's Trustees. as a body, in accordance with the
regulations made under Section 154 of the Charities Act 2011. My work has been undertaken so that I
might state to the charitable company's Trustees those matters l am r8quir8d to state to th8m in an
independent examinerfs report and for no other purpose. To the fullest extent P8rmitted by law, I do not
accept or assume responsibility to anyone other than the charitable company and the charltable
company's Trustees. as a body, for my work. for this report. or for the opinions I have formed.
R•spective responslbllltles of Trustees and •xaminer
The Trustees {who are also directors of the charitable company for the purposes of company law) are
responsible for the preparation of the accounts. The charitable company's Trustees consider that an
audit is not required for this year end section 144(2) of the Charities Act 2011 8nd Part 16 of the
Companies Act 2006 and that an independent examination is needed.
Having satisfied myself that the charitable company is not subject to audit under company law and is
eligible for independent examination, it is my responsibility to:
ex8mine the accounts under section 145 of the Chsrities Act 2011;
to follow the procedures laid down in the general Directions given by the Charity Commission
under section 145(5)(b) of the Charities Act 2011. and
to state whether particular matters have come to my attention.
Basls of Independent examinerfs statement
My examination was carried out in accordance with the general Directions given by the Charity
Commission. An examination includes a comparison of the accounts with the accounting records kept
by the charitable company. It also includes consideration of any unusual items or disclosures in the
accounts. and seeking explanations from you as Trustees concerning any such matters. The procedures
undertak8n do not provide all Ihe evidence that would be required in an audit, and consequently no
opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to
those matters set out in the statement below.
Pagé 7

Commercial in Confidence
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE ANDREW GRENE FOUNDATION (UK)
Independent examiner's statement
In connection with my examination, no matter has come to my attention..
which gives me reasonable cause to believe that in any material respect, th8 r8quir8m8nts:
to keep accounting records in accordance with Section 386 of th8 Compani8s Act 2006;
to prepare accounts which accord with the accounting records.
to comply with the accounting requirements of Section 396 of the Companies Act 2006.
to comply with the Statement of Recommended Practice (Accounting and Reporting by
Charities.. Statement of Recommended Practlce applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS102) (effective 1 January 2019) by the Charity Commission;
have not been met:
to which. in my opinion, attentlon should be drawn in order to enable a proper understanding of the
accounts to b6 reached gives me reasonable cause to believe that in any material respect, the
requirements.
Edward Wilson
Stamford
Date:
Page 8

CommercSal In Confidence
THE ANDREW GRENE FOUNDATION (UK)
STATEMENT OF FINANCIAL ACTIVITIES
(including income and expenditure account)
FOR THE YEAR ENDED 30 JUNE 2024
Note
Unrestrlcted Restricted
funds
funds
2024
2024
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
Total
2023
Income from:
Donations and legacies
135,512
253 135,765
149,177
149,177
Interest received
7,257
7,257
2,575
2,575
Total incoming
Resources
142,769
253 143,022
151,752
151.752
Expenditure on:
Raising funds
92,812
92.812
73,776
73,776
Charitable activltl8s:
Donations
43.896
253
44,149
86,240
86,240
Total resources
expended
136,708
253 136,961
160,016
160,016
Not
{outgolng)lincoming
resources
for the year
6,061
6,061
(8,264)
{8,264)
Fund balances brought
forward at 1 July 2023
248,723
248,723
256,987
256.987
Fund balances carried
forward at
30 June 2024
254,784
254,784
248,723
248,723
All incoming resources and resources expended derive from continuing activities.
The accompanying accounting pollcies and notes form an Integral part of these financlal statements
Pag8 9

Commercial in Confidence
THE ANDREW GRENE FOUNDATION (UK)
BALANCE SHEET AS AT 30 JUNE 2024
Reglstered number: 07291653
Note
2024
2023
Current assets
Cash at bank and in hand
254,784
248,723
Total assets less current liabilitie5
254,784
248,723
Funds of tho ¢harltable company
Unrestricted funds
Restricted funds
254,784
248,723
254,784
248,723
Audlt exemption statement
For the year ending 30 June 2024 the charitable company was entitled to exemption from audit under section
477 of the Companies Act 2006 relating to small companies.
Trustees. responsibilitles:
the members have not required the charitable company to obtain an audit of its accounts for the year in
question in accordance with section 476
the Trustees acknowledge their responsibilities for complying with Ihe requirements of the Act with
respect to accounting records and the preparation of accounts
these accounts have been prepared in accordance with the provisions applicable to companies subject
to the small companies, regime
The financial statements hav8 been prepared and delivered in accordance with tha provisions appllcable to
small companies within Part 15 of the Companies Act 2006.
The financial statements were approved by the Board of Trustees on
T Perutz
Trustee
The accompanying accounting policies and noles form an integral part of these financial statements
Page 10

Commercial in Confldence
THE ANDREWGRENE FOUNDATION (UK)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Accounting Policies
The charitable company is incorporated in England and Wales with company number 07291653. Its
registered office address is as follows..
Nimlok House
45 Booth Drive
Park Fann
WELLINGBOROUGH
Northamptonshire
NN8 6NL
1.1 Basls of preparation
The financial statements have been prepared in accordance with the Statement of Recommended
Accounting Practice: Accounting and Reporting by Charities Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in th8 UK and Republic of Ir81and (FRS102) (effective 1 January 2019), the Charities Act
2011 and the Companies Act 2006. They hava been prepared under the historical cost convention.
The Andrew Grene Foundation (UK) meets the definition of a Public benefit entity under FRS102.
The Charitable Company's Function81 currency is £.
1.2 Incoming resources
Voluntary Income
All monetary donations and gifts are included in full in the Statement of financial activities (SOFA) when
the charitable company has entitlement to the income. it is probable that the income will be received
and the amount of the income r8c8ivable can be measured r81iably.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is
reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions
are met. Where a grant does not specify performan￿ conditions it is recognised in income when the
proceeds are received or receivable. A grant received before the reGognition criteria are satisfied is
recognised as a liability.
1.3 Resources expanded
Expenditure is recognised once there is a legal or constructive obligation lo.transfer economic benefits
to a third party, it is probable that a transfer of economic benefit will be required in settlement and the
amount of the obligation can be measured reliably.
Page11

Commerclal In Confidence
THE ANDREW GRENE FOUNDATION {UK)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Accounting Policies (continued)
1.3 Resourceg expended (continuod)
Expenditure, which is charged on an accruals basis. is allocated between:
raising funds which consists of the staffing wsts and administrative costs,,
charitable activities which represent the grants made.
Donations paid
Donations are payments to institutions in the furtherance of the charitable objectives of the charitable
company and are accounted for as they fall due.
1.4 Debtors
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.5 Cash at bank and In hand
Cash al bank and in hand includ8s cash and short term highly liquid investments with a short maturity
of three months or less from the dat8 of opening the account.
1.6 Credltors
Accruals are recognised when there is an obligation at the year end as a result of a past event, it is
probable that a transfer of economlc benefit will be required in settlement, and the amount of the
settlement can be estimated reliably
1.7 Fund accountlng
Unrestricted funds are voluntary income and other incoming resources received or generated for
expenditure on the general objectives of the charitable company and which have not been designated
for other purposes.
Restricted funds are to be used for specified purposes laid down by the donor. Expenditure for those
purposes is charged to the fund, together with a fair allocation of overheads and support costs.
1.8 Forelgn curroncies
Monetary assets and Ilabilities denominaled in foreign currencies are translated into sterling at rates of
exchange ruling at the balance sheet date.
Transactions in foreign currenci8s are translated into sterling at the rate ruling on the date of the
transaction. Exchange gains and losses are recognised in the SOFA.
Page 12

Commercial in Confidence
THE ANDREW GRENE FOUNDATION {UK)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Accounting Pollcles (contlnuad)
1.9 Golng Concern
The Trustees assess whether the use of going concern is appropriate, ie whether there are any material
unc8rtainties related to events or conditions that may caus8 significant doubt on the ability of the
charitable company to continue as a going concem. The Trustees make this assessment in respect of
a period of one year from the dat8 of approval of the financial statements.
Donations and legaclos
2024
2023
Donation from P3 Group Europe Limited for adminlstration costs
Other donations
91,053
44,712
72,893
76,284
135.765
149,177
Inv•stment Income
2024
2023
Bank interest received
7,257
2,575
Page 13

Commercial in Confidence
THE ANDREW GRENE FOUNDATION (UK)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Expenditure analy815
2024
2023
Ralslng funds
Staff costs
Marketing
Travel
General administrative expenses
Legal and professional
45,865
304
28,210
12,463
4.211
46.014
458
15,574
8,500
2,347
Paid for by P3 Group Europe Limited
91,053
72,893
Bank charges
1,470
1,249
Total expenditure
92,523
74,142
Lossl{gain) on exchange rates
289
(366}
Total costs
92.812
73.776
Donations
Unrestricted:
The Andrew Grene High School
Other Haiti projects
42,273
1,623
86,240
The Andrew Grene High School
43,896
86,240
Restricted:
Period Pack project
253
Page 14

Commertial in Confidence
THE ANDREW GRENE FOUNDATION (UK>
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Staff costs
2024
2023
staff costs
Gross salaries
Employerfs national insurance costs
Other pension costs
40,000
4,265
1,600
40,000
4,414
1,600
45,865
46,014
Average number of full time equivalent employees in the year was:
2024
No
2023
Fundralsing
Staff are not directly employed by The Andr8w Grene Foundation (UK).
There is no remuneration paid lo Key Management Personnel (who are defined as the Trustees) in
2024 or 2023.
The staff have contracts with P3 Group Europe Llmlted who pay these costs and thus donate the
equivalent amount to the charitable company.
Payments to trustees and connected persons
No Trustee or person with a famlly or business connection with a Trustee received remuneration or
expens8s in the year directly from the charitable company.
There are no employeés who received employee benefits of more than £60,000.
Funds
Unroslricted funds:
At 1 July
2023
Incoming
resources Expenditure
At 30 June
2024
General fund
248,723
142,769
136,708
254,784
Restricted funds:
At 1 July
2023
Incoming
resources
At 30 June
2024
Expendituro
Period Pack project
253
253
Page15

Commercial in Confidence
THE ANDREW GRENE FOUNDATION (UK)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Related parties
The administratlon costs of the charitable company amounting to £91,053 (2023.. £72,893) are paid by
P3 Group Europe Limited, a company of which T Perutz is a director, and an equlvalent amount Is
then shown as voluntary income.
Pagè 16