Docuswjn Envelop8 ID." Ec5A4BC4EIFF43AI-B48￿5B5971B￿BcD3 Charity Re8lstration No. 1142742 Company Registrntlon No. 07621714 (England and Wal•g) Langdon Empowering independence THE LANGDON FOUNDATION (A Company Llmlted by Guarantee TRUSTEES, ANNUAL REPORT and CONSOLIDATED ACCOUNTS For the Year ended 31 December 2023 DOcus￿n En￿Ope ID.. ECSA4Bc4.E1FF43A1-84B￿5Bs97lBDBcD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMIN15TRATNE INFORMATION Truste¢$ Mr N Doffman {Chatmwnl Mr P Goldberg {Vic¢-Chalm￿nI {appointed l AU￿St 20231 Mr M ￿aThe (Reslgned l Awt 20231 Ms E Casdeton la4)polnted l August 20231 Mrs S Cooper Ms S Frai$ Ire5i8ned l Augusr 2023) Mr N Henry Mr Ploseph (resigned 5 Juty 20241 M5 C Kaye {IppvliiLeTJ I AuxusL 20231 Mr D Kleln lapp¢inted l August 20231 Ms C Lerner lappoSnted l August 20231 Mr l Lerner {appointed l August 20231 Mr R Levy ITr¢asurerl lappointed l August 20231 Mr A Loftus lappoIn￿d l August 20231 Mr B Mlller IresiKned 5 july 20241 Mrs K F1Illllps MBE Mr S Salomon {resi8ned 28 lune 20231 Mrs S 5hieff Ireslgned l Au8U$t 20231 Mr R Tenzer (Treasurer un￿1 resl4nation on l August 2023) Chlaf E¥•cutl Mr R Franklin lappointed l Au8ilSt 2023} Mr N Taylor Iresilned l August 20231 Company Secr•tary Mr P Darnell {appolnted 12 February 2024} Mr B Shlne Ireslgned 12 February 20241 ChaAty number. 1142742 (En￿aTrd and Wales) Company number 07621714 (En*￿¢j and Wles) Prlndpal address 333 Ed￿ttre Road Floor 3 London NW9 6TD Rezl*t•r•d Office 333 Edware Road Floor 3 LDndon NW9 6TD Audltor Cohen Arnold New Budingron Hou 1075 FinchlEy Road London NWI I OPU Banker5 Lloyd5 40 Spring Garden$ Manchester M2 IEN DrKu5iqn Envdcpe ID.. EC5A48C4-ElFF43A1448￿B591lBDBcD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) CONTENTS Trustees, AnThU￿ Report Independent audltor's report >8 Statement olflnancval actlvldes Balance $h¢4t 10 Stst•m•nt of ush flows Notes to th¢ iccounLS 12-27 DO￿51gn Envdcp810.. ECSA48C4Q1FF43A1-B489-5B5971BD8CD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Charlty Informatl¢Jn The Trustees present their annuaj report and the financial statements for the p¢rlod ended 31 December 2023. The a¢¢ount5 have been prepared In accordance wth the accountlng pollcles sÈr In note I to the a¢<0unts and cornply wfth The Langdon Foun¢Jation'$ Mernorandum and Arn'cle5 of Ajsociation. the Charities Act 2011. the Companie5 Att 2006 and the Charl¢le$ SORP {FRS1021. R•feren¢¢ and admln15tr&tlve detalls Th¢ Langdon Foundation Is a registered charity (No. 1142742) and a company Ilrnited by 8uaranree and noi havSnx share capltsl (No. 076217141. The re¥￿tered offl¢e 1$ as shown on the IEDI and adrninistrative 1nforrna￿0￿ pa8e. The Trustee5 On the date of thls reporL all of whom ierved thrDu8hout the financlal perlod unless otherwSse SndScatBd are as followJ-. Mr N Doffman {Chairmonl Mr P Goldberg {v￿￿choInndft> (appointed l Au8U5t 2023) M5 E Castleton (appointed l August 20231 Mrs S Coop¢r Mr N Henry Ms C Kaye (appolnted l Augus¢ 20231 Mr D KleSn lappolnted l August 20231 Ms C Lerner {appolnted l Augusi 20231 Mr l Lerner lappolnted l Au8U5t 20231 Mr R Leyy lappolnred l Au8USt 2023} Mr A Loftus lappointqd l August 20231 Mrs K Phlllips MBE The ¢urr•nt Truitees have the power w remo¥¢ and appoint tru5teu. There are a maxlmum number of l 4 ¢ruste*$ and not le55 than B who may be appoIn￿d to the Board. The Chief Executive contrt￿5 the day-t+>day rnanagement of ¢he charity together wlth the ienlor man4ers and employees. The Chlel Executfr4e works closely with the Senior Leadership Team as Ilscetl below. The Senior Leadershlp Team of the Charity Is.. Mr R Franklin Chiof Executive Mrs H Sowa DSre¢tor ol Oper*uons Mr A Ovedander-Kaye Dlrector of Fuhdralslng Mr P Darnell Director of Corporate Servlces Mrs M lane$ Chiel Transfomiailon Offlcer Structurep zovernance and m•na8•m*nt The Lan¥don Foundatlon was incorporated and escabli5hed by N¢m0Nndurn and Articles of Associauon on 4 May 2011 as amended on 6 july 2015. The Langdon Group comprises the Lan8don Foundadon IEharKy number 1142741 company number 076217141, Langdon College Icharty number 1088936. rornpany numbEr 41044661. Langdon Community {charlcy number 1086393, ¢tsmpany number 40553381 and Langdon Housing (charity number 1142743, company number 76232461- On l August 2023 Langdon Foundation m¢rged wSth Klsharon to form the KisharonLangdon Group. The external advisors of The Langdon Foundation are a5 Set out on the legal and admlnistratyve page. Dtscuggn Envelry)e ID.. EC5A4Bc￿IFF43A1-848￿5b5971B0BcD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Current Developrn•nts On 31 Au8U5t 2024 Langdon Foundatltsn tranjferred its staff. a￿ets and ILibllltSe5 through TUPE to KlsharonLangdon with th¢ exception ofr. Fre¢hdd and lon8 leasehold property (note I 51 The loan from Unl¢y Bank (note 171 Corporn¢• governancè Processes are in place to ensure that performance is monitored, and that approprlate management Informatlon 15 prepared and reviewed regularly by both the Chalrperson and thg Board. Systems ol internal control are d￿Igned to PrO￿de reasonable assurance aplnst material rnis$caternent or1055. They Indude: an annual budget approved by the Trustees., • regular conslderatlon by rhe Trustee5 and the FlThanc4 Audlt and R15k Commlttee of ¥rneral budget performance,. * delegation of daY-l￿daY management and regulatory comp15anc• authodty.. and • Identrtlcad¢n and mana8ernent g( rlsks Obl•itivei, actlvltl••. achlevements •nd perforrnJnc• The Obje￿ of the Char*ty are th¢ adydncemqnt of ¢ducatlon and the rnll•f of Indlvlduals wlth speclal educatlofi￿ needs or rnenral Illness and other a5SOtiated dlfflcultSes including ihroygh the provision of support to their famllies and15ave for purposes Incldentsl and ancillary tp those o*'ectlV•51 nu ocher purposas. The Charlty ij estab115hed In accordance wl¢h the tenets ol the lewi$h reli&on. Langdon 13 a leadln£ tharliy that empowers 50mé 120 lew15h adults wl¢h learnlng di5abllldes and autlstlc spectrurn d150rder5 w4th the sk1115 and opportunlties to 15ve 5ndependen￿Y In their communit5es, withln a lewsh eth05. Langdon operare5 In the Manchester are4 NorEh-West London and nearby areas and deals with more than I S Local Authorltles. Our vlslon is to ensure thac people with learnlng disabl1￿}eS have the same opportunitle$ as everyone elsq, so they can liye indopondently In thelr lool comrnuniy. Our alm Is that people with learning di5abiliii¢s Ilve in an inclusive world where they are valued equally. Our aspiration Is to create a cornrnuniy In whlch jewish young people and adulrs wlth learning d15abill￿es or with aUtI$￿C spectrum disorders thrlve and have equil opportunI￿*S to Ilve the Ilves they choose. We have been gulded by the followlng strateglc ilm$ o¥•r ¢he past year.. Diver$lfy the range of lifq opportunlties for members and their famllSe5 2. Develop and equip our workfvrre to be able to respond to the IncreasSng levels of compl•x n¢ed5 and expettations of qu￿ltY of setvice Build organisational capaclty to pro¥ide10ng-term sustainable housinglllfe OPLions. 4. Improve our en8agement with the community and bulld the trust of our stakehplder5 so as to maxirnise level$ of support lor the organisatlon S. Idenufy mlrtually beneficial partnerships andlor collaboratlons that deliver ¢¢$ts effettwt seThlces and y￿ue for money On l August 2023. Langdon Foundatlon merged vAth Klsharon w form rhe KisharonLangdon Group. Envelope ID.. ECsA4BC4-E1FF43A1-B48￿SBS971&DBcD3 THE LANGDON FOUNDATION (A COMPANYLIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPOFiT FOK THE YEAR ENDED 31 DECEMBER 2023 Publlc benefft The Trustees have cornplied with thqir duties set out In settion 17 of rhe CharTtie5 Act 2011 to have due regard to the idance publl$hed by the Charlty Commission. The benefrt to the public 1$ rnanrfestly demonstrdted by the achievements contained in thi5 reporL all of whSch Seeks to eX￿nd and improve the care of young peopl¢ whose Iwe chances. aspiratlons and contributions to $4xSety wll be enhanced. as a result Support from Foundation cons15ts of grdnts to Cdlege, HousSng and Community for specific projects and the prov151on of rented residential accommodavon for these charkI￿. whlch Is pur¢hased for their on-g01ng requirements. This support also ¢nable$ che advancement of education for the Coll¢$e and 8Fves financlal as$15tance towards the support of young people and adult5 wlth spxial edutatlonal needs. The support that IS 8lven by College, Hou51ng and Communlty is unr¢laeetJ to any indivldual's ablllty to pay for setylc*5 as Langdtsn Foundatlon enables houslng to be awallable for those Sndlvidua15 who do no¢ have the financlal mean$ to conrrlbu¢e towards their own home and is wlthin the remlt ol the Founda￿0￿.5 areas al Opera￿0Th. Membern who live Sn Langdon houses have the benefit of livlD8 in horne5 that give • good standard of acEommodatlon, whlch mlght not have othernylse begn posslble. Rlth management Langdon'5 approach to rl$k management Include5 the Identificacion of r15k5 on both 'top down. and 'boiwm up, ba5e5, and the rating of identSfied rI5ks according ¢0 the Ilkelihood and impact ol the risk wcurring. We overlay on thls a revlew of the risks to dellvery of the bu51ness plan for the curren¢ and subsequent years. Mitifdting controls are identified and, where lurther attlon is required. deadllne5 and respon51bllltle5 a551gn•d. Those acdVI￿¢5 wbth hl8her risk rntlngs are priorlti3ed. In addirlon to review by the Senlor Leadershlp Team, the r+5k reglster Is revlewed regularty by thi Finance Audlt and Rlsk Comrnlttee on behalf r)f fhe Board ol Trustees and 15 5y5tema¢ically rtvlewed five tlme$ a year for each Board ￿eetIng. Fallure In sucCusfv1￿ contludlng the merger discussions w5th Klsharon was Idenclfied as a crltical rlsk In addltlon to the contlnued Inflailonary environment tha¢ 15 affecting the Umlted Kingdom. The Impa¢c of both rl$ks was beln8 monitored closely by the Trustees and Senior Leadership Team. The orher key risk areas have been identmeid as.. Care and Safeguardlng iTh¢ludln8 Infec￿on and securlty rlsks. Reputation ID¢ludin8 Impact of serlous incidents, data breaches. Fundralslng rlsk Including the impact of rhe economy on fundralsing. Loan flnance inLerest rate and the linked factor of property secured by the10an. Flnanelal r15k Including dependency uptsn current government hJndln8 arrangements for the people we $upporL Facllity rlsks Including health and 5ale¢y, un5Uitability ol arcommodation. sustained 105s of IT. People rlsk5 includlng recruitment chall¢n%e5. staff shortages and wage inflation. Flnanclal Review. Mana8ement PollcS•1 and Results for the Y• The Statement of Flnancil Attl¥lde$15oFAI, set out on page 8, show5 that the Ftsundauon receiY¢d dona¢lons and income of L8,997,02312022.. (8.838,6281 of whlch £1 0.401,29912022.. £9.258,160} paid out on expenses. loaving a deficlt of 1,404.27612022 deficit.. £419.S321 before revaluailon of properdes and Langdon merger cost5. Our Income and expenditure are finely balanced and the continulng Impaa of changes ro mlnlmum wage rate$ wlthout COm￿rable increases In statutory funding conunue5 that 51tuation. Do￿￿0n Envebpe ID.. EC5A48c4-E1FF43A1-B489-565971B￿D3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Re￿r¥e$ The reserves of the Langdon Foundation are ￿most fvlly Invested in fixed assets for the use of students and re51dents. At 31 December 2023. the charity holds reserve5 in the following entities.. Foundatlon £4.265k Cornmunlty £l.I I I k College 1313k 3nd Hou$ing £98k. Group total reserves are £5.787.586. our of whlch £343.175 Is restriC￿d. £10,196.310 relats5 to tanw'ble fixed assèts12022.. £10.943,8951, leaviw unrestricted re$erYes at a negative1£4.751.8991 i.e. there are no free reserves. Our con5glldated balance sheet remain$ strong wth freehold and leasehold properties totallin8 £10.196.310. Connected charltld and Golni Concern The Lan8don Foundation is part of the KlsharonLangdon Group. Havlng reviewed the operatlon5, assets anil ca$hflow of the Group it is the ¢¥inlon of the tru5cee5 that li 55 approprlate that the accounts of the compat)y are prepared on a golng concern basls. Dls¢loiuM of Inforni•tll￿ to audlto Each of the Trustees hè$ confirnied that there 15 no Inforniation of whlch they are Kth aware whlch Is rel•vant to the audit, but of which the audltor Is unaware. They have each further conflrrned that they have each taken appropriate steps EQ identlfy such relevBnt informatlon and to e5tab115h that ihe auditors are ol such irbforrnatlon. Stat•m•Tht of truitee#' r•iponilblllties in relatlon to the flnanclal #tst•m•Tht The Charlry's trustees Iwho are a150 the director% of The Langdon Foundatlon for the purposes of company lawl are responslble for preparlng a trustees. annual report and flnanclal staremènts In accordance wlrh appllcable law and Unlted K6n8dom Accounting Stantlards (United ￿ngdoM Generally Accepted Accounting Practlcel Including FRS 102 "Tha Flnanclal Reportin8 Standard applir4bl¢ In the UK and Republic of Ireland" Company law requlres the Charlty trustees to prepare finarKid statements lor •ath year whlch glv• a tnje and tsir vSew of th• 5tar¢ of affalrs of the tharltable f r8sourc•5. Includlng the income and expendl¢u￿ of the chadEablE group for that period. In prepadn¥ tht financil statements. the crusiees are required to.. • selett Sulta￿e accoun￿n8 pollcles and then apply them conslstenrjy. observe the methods and prfnclple5 in th• Charityes SORP (Statement of Racornrnended Pra¢tlc•)- rnake judyments and estimates that are reasonable and pruden¢. staL¢ whecher applicable UK aEEountlng standard5 hive b¢en ldlowed, subject to any materlal deparcures d15clos¢d and explalned In th* flnanclal ststements. prepare the financlal sratem¢nts on the goln¥ con¢¢m ba515 unless It Is Inapproprlate to presume that the Charlty wlll continve in buslness. The trustees are responsible for keeplng proper accounting records that disclose with reasonable aecuracy at any tlme the financial posltjon of the Charlty and the group and to anable them to ensure thatthe financial statements comply with the Ctsmpanies Att 2006 and the Charity's constitution. They are a150 responsible for 5afezuardSng the assets of th¢ Chartty and the group and hence rakJn8 reasonable Steps for the prevention and detection of fraud ané other irregularltles. The Trust89s' Annual Report Including the S(ra￿lIC Report wa5 approved on behaw of the Board ofTru$tets ¥tsdby'. QaN4FJO1D43 Mr N Doffrnan Chairman of Tru5cee5 30 October 2024 Dthxsign EnveloFe ID.. Ec5A4Bc4-E1FF43A1-B48￿SBSg7yBDBCD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF L4NGDON FOUNDATION Indep•ndent Audltoes Report to the Members of Langdon Foundation OpinloD We have audited the financil Statements of Langdon Foundation tharitable company'l and its subsidiaries I'the grgup.) lor the year ended 31 December 2023 which comprlse the Consolidated Srat¢m¢nt of Financval Acti¥lue$. Group and Charlty Balance Sheets, Consolidated Cash Flow Staternent and notes to the financial Statements, Including $18nificant accountSng policies. The financial reporting framework that has been applied in their preparadon 1$ applicable law and United Kingdgm kcounting Standard$, Including Financlal Reportin8 Standard 102 The Financial Reptsnin8 Standard applicable In the UK and Republlc of Ireland (United Klngdom Generally Accepted Accounting Pracvcel. In our opinion die ftn&icial st*LetliVlils.' ve a rrue and falr view ol the $tate of the group's and the charitable company's affair5 as at 31 December 2023 and of the group's Income and expenditure, for (he year then ended.. have been properly prepared in a¢cordance with Unked Klngdom Generally A¢cept*d ACCOUn￿ng Pt7rt1c¢.' ané have been prepared in accgrdance with th• requlrements of the Companie$ Act 2fJ)6. 8asl$ for oplnlon We condu¢t•d our audlt In ac¢ordant4 wlth Internatlon￿ Standardx on Audldng IUKI IISAJ IUKII and applicablè law. Our re5ponsiblllrles under those standards are lurther described In the Auditor's respanslblllties for the audit ol ¢he flnanclal statements secdon of our report. We are independent of the group In accordance with the tthlcal requlrements that are relevant to our audic pf the financial sta¢ements in the UK, Sncludln8 the FRC'S Ethlcal Standard. and we have fulfilled our other ethlcal r¢spon$ibllitles sn accordance these requirement5. We b¢lieYe t￿< the audit evidence we have obtained Is sufflElent and approprlate to provide a basls for our oplnion. Condusions rel&tln8 to golnz ¢oncorn In audldng the flnanclal statemenu. we havo concluded thit the wu5t•e'5 use of the gpln8 concern b*sls of accountlng sn the preparatlon of the financlal staternents is approprlate. B•sed on the work we have perforrned, we have not ident5fied any material uncertainties relatinK to events or condition5 tha4 Indlvidually or colleciively, may ¢ast slgnlficant doubt on the chadtablo company's or the 8roup' ablllty to contlnue as a goin8 concern for a period ol at least twelve month5 from when the flnantlal statem¢nts are authod5ed lor Issue. Our responilbllltle5 and th• rejponslbllldes of the trustees wlth reipect to going ¢oncèm are descrlbed the relevant s¢rtlons of thi5 report Other Infomiation The other Information comprlses the inforrnation included in the annual report. other than the Ilnanclal 5raternents and our auditor'5 report therEon. The trustees are responsible for the other inlormation. Our oplnion on the Inan¢ial staternents does not cover the other information and, exeEpt to the extent othekylse explicitly stated In our repor4 we do ntsi expre55 any form of auurance concluslon thereon. In connection wlth our audit of the financial sratement5, our responslbiliry 15 to read the other Inforrnation and, In doing so. consider wheiher the other inlorrnation is ma¢erially ificonsistsnt the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mls$taied. If we identify such material Inconsistentie5 or apparent material mi5Statements, we are required to de*rmine whether there is a materlal mlsstatement in the finan¢lal $utement$ or i materlal mi55tatement of the other information. If, based on the work we have perfornied. we EonElude that there is a material misstatement of this other information. we are required to report that farL We have nothlng to report in this regard. Opinlons on other mattsrs pre5crlbed by the Companles Act 2006 In our oplnlon based on the work undert*ken In the course of our audit the information yven in the trusree5' repor( which includes the directors. report prepared for the purposes of comp•Thy13w. for the financial year for which the flnanEial statements are prepared 15 conslstent with the financial 5tatement5.' and the tru5tee5' reporr ha5 been prepared In accordance with appllcable I￿ requiremen¢$. DDcu5vJn Enveh)pe10.. ECsA4Bc4￿lFF43A1-B48g-SBS9718DBcD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANGDON FOUNDATION Matters On whlch we are requir•d to report by exception In lighc of the knowledge and uThder5¢andlng of the group and the ¢harltabl¢ company and thelr envlronment obtslned in the course ol rhe audit, we have not Idertdfied material mi55ta￿rnen(S In the tyu5tee5' reporL We have nothingto report in respect ofthe following matters in r8latlon to wh5ch the Companie$ Art 2c￿6 requires us to report to you If, In our oplnion.. adequat¢ and proper accoumlng records have not been kep4 or the financlal rtatements are not In aKr8ement wlth the accountlng records and return5.' or certain disclosures of tru5tees' remuneration speclfled by law ara not rnade.. or we have no¢ recelved all the Informa￿0￿ and explanatlons we requlre for our audlt,. or the trusrees were nor ent(ded to prepare the flnandal statements In atcordance w5th the small companies reglm¢ and take advantage of rhe snTrll companle5' exemprlons Irb preparlng the trustee5 annual report and from th¢ requirement to prepare a 5trateglc report. R•ipon55bllltl¢s of trustees As expla5n•d more fitlly Sn the trustee5' rt$ponslb51i￿¢s itaternent set out on page 4. the trustees (who are ￿50 the dlrectors of the charStable company for the purposes of company lawl are responslble for the preparatlon of the financial statements and lor being satlsfied that they glve a true and falr vl•w. and for such internal ¢ontrol as the tru$rees determlne 15 necessary w enable the preparac5on oi nnaThci#l statemenu thit are free from materlal ffliS5o£emenL whether due to fraud or error. In preparlng the ftnanclal Jt*temeThcs, the ¢rusiees are responslble for *ssessln8 the charIta￿e company's ablllty to continue u a golng concern. disc105in& as applicable. matter5 related co going concern and uslng the 8olng concèrn bajis ol accounting unless tha tru5teei oither Intend to Ilquldat• the chariuble company or to cu$e operation5. or have no realistlc alterna￿Ve but w do sg. AudltorfB responslbllltl•s for the audlt of the Ilnanclal st•tements Our oblecdves are to obtain reasonable assurance about whether the financial Statements as a whole are fre¢ frorn material mis$tatemen4 whether due to fraud or error. and to luu¢ an audlwr's report that includes our oplnlon. Reasonable a$iurance is a high level ol assuranc¢ but 15 not a 8uarantee thar an audit conducted in accordanEe wich ISA5 IUK) wlll Iways de¢eci a rnaterlal m1551atement when It ex15t$. Mlssurements can arise from fraud or error and are consldered materlal If. Indlvldually or In the aggregate, they could reasonably be expeetotj to Influence the tonomlc dec5slohs of u$trs taken on the basis of these flnanclal statements. Ext•nt to whlch tho nudit conjldered c*pabl• of det¢¢tln8 irrn¥ulvltlM. Includlng frnud Irregularltles. including fraud. are In5tanEes ol non-complknce wlth laws and re8ular(ons. We identsfied and assessed the risk5 of rnaterlal mlsstatement of the flnanclal statements from Irr¢gularStle5, whether due to fraud or error. and dlscu5sed these between our audlt tearn memb¢r$. We then designed 2nd perfomed audlt procedures re5ponsNe to those risk5. Including obulnlng audit ewdenc• %uffi¢i¢nt and appropriate to provide a basi5 for our oplnlon. We obtalned an understandSng Of the legal and regulatory framework5 wlthln whlch the charltable company and group apErates. focusin8 on those laws and regulatlOn5 that have a direct effetr on the deterniina¢Tron of materlal amount5 and dlsclosures In the financlal stsiements. The laws and regulation5 we consldered In thls context were the Companle5 Att 2006. the Charltle5 Act 201 I together wlth the Charities SORP IFRS 1021. We assessed the required compliance wfth rhese laws and regula¢ions as part ofourauditprocedures on the related finandal statement items. In addldon. we considered provisions of other law5 and reKulatlons that do not hav* a dlrett effett the flnanci statement5 bu¢ compliance with which mSght be fundamental to the charthle company's and the group's ability to operate or to avold a Mate￿al penalty. We al$0 considered the opportunities and incentive5 that may exist wthin the charitable Company and the group for fraud. The laws and reylations we considered in thls context for the UK operatlon5 were Gene￿ Dats Protection Regulation IGDPRI, health and Safety leg151ation. employynent legisladon. legislation, Education Ac¢ and CQC Regulation5 for 5ernfice providers and managers. DroJ¥lgn Envdow ID.. ECSA4BC*E1FF43AI-848W5B59718DBCD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LANGDON FOUNDATION Audicing standards Ilm￿ the required audii procedure5 to identfy nonm new borrowlng 180 14.C#)O.Ch)01 4,CKQ,000 Nét t￿h provld•d by Iln*nclng a¢tlvltl•i 180 Ch•ny Sn c•*h •Thd •qulv4lents In th• rnportln8 p•rlod 110995 133,019 Cash And c•sh •qulTAlents at th• be￿nn1￿8 of the reportlnz perlod 588.846 721,865 Cwh •nd cuh •qulval¢nt• •t th• •nd of th• r•portlng p•rSod 377 852 DorAJSign Envelope ID.. EC5A48C4E1FF43A1-84B9-5B5971BDBCD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ac£ountlng Pollcle5 The prln¢lpal accoundng politP5 adopted, judgements and key source5 of estlmatTon uncertaincy In the prepa￿￿0￿ of the finan¢il 5tstements are as follows.. I. I B￿19 of preparntion The financ[￿ sutements have been prepared in accordance Ylth A¢couThtin8 and RepL)rdng by Ch3rbtles'. Statement ol Recommended Prncdce applicable w charities preparing their aceoLJnts in accordance with the Financial Reporting Standard applicable ift the UK and Republlc of Ireland IFRS 102} leffe¢¢ive l January 201 $1 {Charives SORP IFRS 10211. the Flnanclal Kepordng Standard appllcable In the UK and Republic of Ireland IFRS 102) and the Companles Act 2006. The Charlty m¢et5 the definition of a public benefit entlty under FRS 102. Assets and liabilives are initially recognised at hi5rorl¢al cost or transacty'on *Alu¢ unless otherwlse stated in the relevant accountlng poll¢y. 1.2 Preparatlon of th¢ accounti on a 80Sn8 Concern ba*Ss On 31 August 2024. Langdon Foundation transferred Its staff, assets and Ilabilities (with the txception ol its property and bank loan) and substan￿allY ajl ol its operatSng acUvlti¢s to KisharpnLangdon. In considering the adoption of the golng concern basls for preparingthe flnanclal statements the tru5cees have consldered the finincial r•5erves avdIla￿e d Ihe rlsks lacing the Foundati¢)n incluéing those ¢onnecred to the Impact of inflation on the Group's cost base. Gpvernment pollcy and lu lrnpact on income levels. lundrdi51n8 risk and the affordabillty of support avallable from members, farnille5. InEtre$¢ rate risk and the potentlal impact on the Group'5 ability w meet loan covenants and to manage cash flow. The tru$tees recogn15e that all of the unre5Lricted funds are used to finance tangible fixed asiets vknich KlsharonLangdon uses to provlde Its servSces. Although these a55¢rs could be 501d co release ca5h1subj¢ct to receiving approvals from the Group'5 loan providers}, thi5 would ttke dme. K5sharpnL3ngdon Group will provide support to the 8roup. rf neces￿ry. However, tskSng into account the current level of resekves, eXpecta￿an$ for fvndralslng dur5ng 2024 and 2025, and the Founthrion's ability to xll properties15ubject to bank approval should this b¢ needed) together wlth those factors se¢ out on pages 3 antJ 4 01 the tru$te¢s' report the trustees have Concluded that rhe flnanclal stat•rnenu sh¢)uld be prepared on che basls that the Foundatlon is a going concern. 1.3 Ba￿$ of cOn￿lIdatIOn The financlal 5tatemont5 ¢Qrtsolidate the re5¢Jlts ol the charity, The Langdon Foundatlon "Foundatlon" and Sts 5ubsldlary undertakin85 Langdon College "Colle8e" Langdon Communlty "Communlty" and Langdon Housing 'Houslng" These are all al$0 Incorporated charities. Subsldiarie5 hav• been consolida￿d on a line-by-line basis. A separate Statement of Flnanclal Avements Computer Flxture5 Equipment & Fittlng5 Motor Vehiel•s Total Cost: As at l January Addition5 DIsp05als Revaluation 10,837,382 283,404 {780.(￿0) 219.194 60.C¢)I 250.569 16,865 314,492 19,484 108.082 11.570.526 319,752 (7BO,OCQI 19,194 Asat31 Decemb•r 2023 10.121.592 00.001 267,434 333.975 108,082 10.891.084 Depraclatlon: As at l January Charge for year RevaluatiC+n adjustment 60.001 200.255 32,057 279.343 25,233 87.034 10,851 626,633 68,141 Asat31 D•cemb*r 2023 60,001 232,J12 304.576 97,885 094.774 Net book value Asat31 D•cember 1023 10,121,S92 35.12J 29,399 10,197 10,196.310 As at 31 December 2022 10.837,382 50.314 35,ISO 21.048 10,943,894 Chwlty Land and Bulldlny Cornputer Equlpment Flxtur•# & Flttlngi Cost As at I january Addldons Disposals Revaluatlon 10,837.382 283,404 1780,0Tr)I 219.194 146,005 8,710 184,476 11,167.863 292,114 (780,0ts) 19,194 As at 31 D•¢ember 2023 10,121,592 IS4,715 104,476 10.460.782 Depre¢latlon: A5 at l January Charge for year Revaluation adjustment Ai •t 31 Decernb•r 2023 121,358 20.704 161,285 I B,704 282.643 39,408 142.061 179,990 322,051 Net book valu• As at 31 December 2023 10,121.592 12,654 4,486 10.130,731 A5 at 31 December 2022 10.837,382 24,647 23.191 10,885,220 All assets are used for charitable purposes. Properties haye been valued by the trustees a5 at 31 December 2022 and 31 Decernber 2023. based on a loan valuatioTr undertaken bylLL In early 2022. The value of £10.121.592 (historical tost £7,436,036) consists of Freehold Properties U,482,923 (histors￿ ¢ost £5,220,985) and Long Leasehold PropErtie$ £2.638,669 Ihi5torical cost 12,215.0511. 20 Docusign Envehy ID.. ECSA4BC4EIFF43A1-B489-5B5971BDBCD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 16 Debto Group Charlty 2023 2023 2022 2022 Trdde debtor5 Arnounts owed by grtsup uNdertalang5 Other debtors Prepayments and accrued income 612,221 444,514 105,274 116.553 79,482 125.558 143.507 205.468 465.905 195,223 503,274 1.2B3.594 275,092 350,147 17 Credltors: Amounts falllng du• wlthin one year Group 1023 Charlty 2013 2022 2022 Trade credltor5 Taxe5 and social se 1171.0551 171,055 87.678 35.$64 25.020 5,772 15.772) 224 707 148.449 5.772 112699 L•nidoTr Collogo Brothertpn R•al Estate Karten ESFA Bursiry E5FA cO￿d Funds ESFA Penslon Grant EFA Capltal Programme Securiry Grartc Chariry Aid Foundation ESFA Tuition Fund lJ70 {1.370) 1,881 {IM81) 29,944 30,351 54,595 5,199 129.9H) PO.992) 154.595) 13,969) 8,043 120.794 51,710 61.149 1,230 130013 Group 546,874 354,720 1269,2431 1289,1761 343.175 22 t)ocusKJn Env8lopb ID.. ECSA4B￿l$F43A1-84B￿SB59T1BDBcD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 ed funds- Balance asatl January 1022 Income Expendltuv• Tr*nsfer betWOon funds Fund$ ￿ at December 2022 LaTh8don Foundatlon Property Development Fund Staff Celebrndon Volunteer m•kger 685.905 785 6,2SO 691940 1234.4041 451,501 17851 6.250 7.03S 234.404 451,501 Lan¥don Communlty Bra* Club EmploymentlS*xlal Enterpr15Q Ambassadors Manthe5ter ArtIVi￿*S Minl Bu¥ Inlectlpn Control Funds 80.2 46.700 197.939 191.304) 1330.496) 11,069) 130,833) 35,676 132,557 1.834 765 7.fy)0 23,833 5,7n 35.055 122.941 S,772 39.459 74.514 528.216 156.390 42,213 Langdon College Brotherton Real Estate Karten ESFA Bursary ESFA Covld Fund5 ESFA P¢nsSon Gftnt EFA Capltal Programme ESFA TUl￿On Fund 1,370 1.370 24.495 1,388 Q7.2101 {1.388) 1113 126,670) 2.71S 26.670 39.678 38.687 126.575) 51,790 7.785 65.166 40.057 102.129 23,860 53,160 Group 855,938 393,227 16th).4171 1101,874) S46.874 23 Docusign Envelope ID-. EC5A4BC4-E1FF48A1.B489-5B5971BDBCD3 THE LANGDON FOUNDATION (A COMPANY LIMITED B Y GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OECEMBER 2023 The Langdon Foundatlon Property Development Fund 15 to refurblsh Langdon-owned prop¢rtSes to modern standard* Volunteer rnanager are funds from the National Lottery and an Individu￿ donor ro support the recrultment of a volunteer manager. Wohl fund$ supported a research project carried out for Lan￿on Foundarion and tsvo other charities. Langdon Commun5ty Brady Club offers soclal ￿￿¥1¢[8$ to younger peopbe with learnlng dth¢ulii¢$ in Etyare. Employm¢nt & SOCI￿ Enterprlse aids and trains people wlth learnlng dbfficultye5 to find eMplO￿ent Thls Include5 New Ch2Pter5 which offers a safe working en￿rOnmen1 Eo gain work experfence. Ambassadors Manchest¢r was created to Se￿£* iht Mndraislng activities ol the parend 8roup And Is earniarked for specific purposes. Supported Llvlng Manchester Is our maln op¢ratlon In Manchester and helps brid8e the gap left by shortfalls In Government funding. Mlnl Bus funds were ra15ed to purchase and 5UPPOrt a new Mlnl Bus- the mlnSbus was purchamd In 2020 AC￿vIlle$ are addltlonal members actSvitles, often arranged in the evenlngs and weekends. Occupatlonal Therdpl$c Is to fund the employment o( an occupational theraplsr ¢0 iupport our members. Staff Tralnlng- a donation was received to support tralnln8 of ¢are staff. Infectlon Control- funds were recelved from Lo¢•1 Authorltles to 511PPOrt add1t10n￿ costs Incurred in rnlatlon to the Covld-19 paThdemlc. L•n8don Colleg• EFSA item5 are for sp¢cSfi¢ purp05eJ as noted. 8roTherron Real Estate is tow¥ds the cgst of creatin8 a rnuslc room for stud•nts. Clty 8rid8e Trust funds are towards the ¢o$c of therapy for 5tud•nu durlng the Covld-19 P￿demIC. Norman LasW Mernorlal CT fvnds the garden prol•ct. Transfers are made from general funds to rtstrlc¢¢d fvnds to make up the shortlall beiwe¢n expendlture Incurred on and donatiofi$ received for those actlvlcles. Restrlcted funds created by donatk*ns recefved by the Foundatlon for actiwve5 vndert*ken by other group en￿￿•5 have beeTr shown under tho group mernber that ultimately applies the •xpendltur¢ In accordance whh the restrlcuon. 24 Docuslgn Env91ope ID. ÉC5A4BC*E1FF4￿l.B4￿B5971BD8CDS THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Group Balance asat I January 2023 Income Exp•nditur• Tran$f¢r be¢ween funds Funds as at December 2023 UnrestrScted fundi Gener￿ fund Prapery revaluatSon lund Total unrestricted funds 2.441,167 8,642.303 4.677,167 7 118 334 8.642,303 110.386,204 219,194 10,6Q5,401 1.069.176 780,LIJO 289,176 ,766,497 3 677,914 5444411 Group Balanc• Income expenditure Transf•r between fund* Fundi u •t January 2022 D¢¢ember 2012 Unrestr5¢ted fijnds Gener￿ fund Property revaluation fund Total unr•5trltted fvnds 2,551,63S 3.992,488 6.544.123 8.445.401 684,679 9.130.080 18,6S7,743) IOIM74 2,441.167 4,677,167 7.118,334 &657,743 101,874 25 Docusion Envdope ID.. EC5A4BC￿E1FF43A1-8489-5859FlBD8¢D3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 19 Analy919 of net assets between funds Group Unr•strlcted funds R05trlcted funds Totsl Fund b￿an£t$ at 31 De¢ernber 2023 are represented br. Tan&ble frxed as5et5 Currenr assets CrndkEors- less than ¢>ne year Credltors- more than one year 10.196.310 1.318,271 11200.2481 3,869.922 5.444.41 10,196.310 1.661,446 (2.200.248) 3 869 922 5.787.586 343,175 343 175 Charlty Unrn•trlrt•d funds R•rtrlct•d funds Total Fund balance5 at 31 DeEember 2023 are repr•sented by.. Tan*'ble flxed a5se¢s Current assets Crediiors- less than one year Credittsrs- more than one year 10.138.n8 206.303 2.377.749) 3,869,922 4.097.360 10,138,728 374,400 (2.377,749) 3 869.922 4 265 457 168,097 168 097 Analyjls of n•t *iMts between funds- provloui year Group Unrestrlcted fundi Restricted funds To¢Jl Fund balances at 31 Decembor 2022 are represented br. Tangible fixed asset5 Current assets Credltor5- less than one year 10,943,895 1.184,983 5,010.544 7,118.335 10,943,895 1.731,857 5.010,544 7,665.209 546,874 546.874 Charlty Unreitrlctsd funds ReJtritt•d funds Totsl Fund b￿anCeS at 310ecember 2022 are represent8d br. TanglNe fixed assets Current assets Creditors- le$$ than one year 10.885.220 161.7391 5.556.290 5.267,190 10,885.220 389.762 5.556,290 5.718,692 451,501 451.501 26 Do¢usvJn Envelope ID.. ECS446C*E1FF43A1-B48¥5B59718DBCD3 THE LANGDON FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 20 Cornmitments under op•r•¢lnll leases Group Land and Bulldlng$ 2023 2022 Total ol fijture mlnlmurn lease pyrnents under non-￿nCelIable operatlng leases are.. Expiry date.. No Liter than one year Later than one year and not larer than flve years Later than five years 482,ISI 544,578 531.914 277.304 Charlty Llnd and BuSldln85 2023 2022 Total of future rnlnlmurn lease payffienc* under non-can¢ell?ble operatlng Ita5e5 are.. No larer than one year Latèr than one year and not later than five years Latsr than ffv• y•ars 37.008 88,819 37.008 21 RKon¢lllAtlon of n•t mtsvoment ITh fvndi to hèt u•h flow from op•r•tln8 aCtlvltl•s 2023 2022 Net movemen¢ In fund5 L05sIIGainl revaluauon ol property Add back depreciation charge Deduct interest In£omq shown in Inves￿ng actlvltl•s Fixed Asset dispos*ls Derrea5elllncreasel in debtori {Decreaselllncrease in ¢redltors (1.877.562) 219.194 68,140 {118) 265.147 (684.6791 204,S06 (140,583) ,059.624 121.9n 243.155 Net ush (used In)1 provlded by oper*tSn8 aEt5TAtle (671.J07) 149.921 22 Post Balance Sheet •v•nts On 31 August 2024. Langdon Foun&tion tran51erred tts staff. assets and Ilabllitie5 (with the exceptlon of iu properry and bank loan) and 5ubstanttally all of it5 operatlng activltles to Ki5haronLan8don. 27