REGISTERED COMPANY NUMBER: 07715471 (England and Wales) REGISTERED CHARITY FIUMBER: 1145084 HUMAN CAPABXLTTY FOiiNDATION CONSOLIDATED FTNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Berringers LLP Charter¢d Accounllnts and Ststutory Auditors Lygon Hous¢ 50 London Road Broml¢y Kent BRI 3RA BUMAN CAPABILITY FOUNDATION cowrENTS OF THE CONSOLIDATED FINANCIAL ￿ATEmENTs for th¢ year ended 31 December 2024 Pag¢ Report of thètrvstees I to 6 Report of the independtnt allditors Consolldited Jt4l•rnollt offinanclAI Activities io Consolldatod knlante sheet Consolidat¢d ea$h Ilow statement 12 Y4ot¢S to the con8olldAied eash flow Jtitemènt 13 Not¢8 to th¢ ¢OD5011dated flnantiil statementi 14 to 31 HUMAN CAPABILITY FOUNDATION REPORT OF THE TRUSTEES for the year end¢d 31 Deetmbtr 2024 The tNst¢es who arc also directors of the Charity for thc purpose5 of the CiJmp8nies Act 20061 preselll their reN)rt with the audited IX)n801idat¢d financial Itatements of the charity for ibe year end¢d 31 De¢embw 2024. The tru5ke5 have adopted the provisions of Accounting Reporting by Charities: Statement of REcommendcd Pra¢tice applicEbl6 to tharities preparing their acwunts in accordance with th¢ FinanGiDI Reporting Skndard appli(￿le in the UK aod R¢publi¢ of Ireland (FRS IIV2) (cffectiv& l January 2019). OBJECTIVES AND ACTIVITIES Objecthys And alms The Hum8n Cwability Fourmlation (HCF) is 2 grant-making foundalTon wttb the objective of promoting such purposes as are eAdusively L*aritable in accothce with the laws of England and Wales as th¢ trllstr￿ may from lim• ¢0 time deterniine. Th¢ Foundation's prirn￿ fO￿S is in India and on the issues of: - Women & girl< rights and gendar equity - S¢xual and reprodudive health rithts . Rights of economically and socially marginalised p¢ople - Mental hcalth and disability rishts - Labour and mi8ration rights - Envtronmental prote¢tion and Qlimalc chan8¢ mitigation - Arts and Cultural Expression The HCF seek& to bulld lon8-terni fimding relationships with non-sov¢rnmenta] organi4tions (NGOS) and Gornnunity-b8sed organisations (CB05) which share ihese value&. sup1￿ of NGOS and CBOS will enhanc¢ ¢ht apability of individu￿S and ¢Dmrnunities to rnanifest self-sustsinin8 and T¢wardin8 lives for thems¢lve4 their e4Jmmunities and future generations. It will foster Icul knDwiedg¢ and ¢xpertis¢ so that Communities themselves are better 4bl¢ in the long-t¢Tm to dèmand th¢ir rightl. The HCF UWB a number of different meaiiireg to Assess success. The HCF shotsld: - Ensure grantees have been abk to ¢arry out their work effcctively and in line wlth what was b¢tw¢en themselve5 md the HCF. . Ensure that work dofte by granttes can lead to the reaiisation of people's rights. and ¢an chalbn8¢ and tr￿$fOrni the societal structures that ma￿1nd11￿e peopl - En$uTe that our 8rant¢es strive to a7nsfer knowl¢dge and power lo the marginalised pcople that they work wit - Rec¢iY¢ regular pm8ress rEPOrts our grantces which detail the &ehievement5 Ihe organisation have had, what feedback thc Brall￿S have received from the peoplE they work with. and n¢w ideas forhow to develop and refine their work. - Rec¢ive contlnued donetions and inpome in ordtr io se¢ure stability 8nd the ability ts provide multi.ygar 8Tants. - Maintain low costs in order to maxtmisc the fimds avHilabl¢ for win8 Out charilablc activities. The 5hort-tsrni Aims of the HCF a￿ to wntinue supporting ¢XEanisations aTMI identify new or88ni14tiolls who are WOTkiDB at the gra5srools Icvel in the most m*%inalised communitl¢s. Th¢ HCF wishes to remain an agile or8anisation that Can T¢5pond quickly to emergin8 ne￿5 aDd requ1￿Ments. Our medium-terni aim is to ensurc that w¢ provide spaee for our ￿zntee& to innovate within their work, tying new initiatives and idea& A long-ttrm goal is to $￿Ificant[Y increase our annual level of fundin8 to capabl¢ or8anisations. This will 1]￿ the ¢apabilitie4 ri8his and quality of life for Communities that we seek to h¢lp. Publk b¢D&rt The truitee$ have had regard to Charity CoMmi￿10n guidanee on publiF benefft and ronsider that the objectives, aims and achievem¢nts of the tharity described in the rnport cnabl¢ it to meet its duty to Ihe Ctharity Commission as per s¢ction17 of the Chatitie5 A¢t 2011, and to the ben¢fit of the public. Goi]ry toncern After reviewing the group'6 fore¢a5ts and projections, the truste¢5 have 8 ￿8￿nIbl¢ exp¢thtion that the group h adequate resources to continue in operational ¢xistence for the forFKeable fu)Jr& The 8roup therefo￿ continues to adopt the goin8 eoncern basis in preparing its financial statements. HUMAN CAPABILITY FOUNDATION REPORT OF THE TRusfEES for the year ended 31 December 2024 STRATEGIC REPORT Aehievemeht %Dd perforniance Charh2ble xctivltles This year HCF have Continucd to support a si8nifiwt number of NGOS, wlth granti approved during the year lo￿]ing £1.947.029 (2023: £1.618.519). The grants have been distrJbut¢d in accordonc¢ with the charitable objectives &$ below." 2024 2023 - Women and gir]g ri8hts and empow¢rnient - Sexual and repn)ductive health ri8hts - Oendw equAlity . Rights of cconomically and so¢ially rnar8inalised groups - MentoI health and disability rights - L4bour& mi8ration rights - Environmentsl protection and climate ¢heng¢ mitigatlon . Youth edu¢4tion - Afls & oultUTal expression - Media & jounwli 386,M 154,NO 77,624 149,140 29,801 14.076 304.232 124,143 381385 328.622 152.831 258A69 169265 307J92 47&339 1Slm4 1,618519 For thè Idr8e parL the HCF does not take unK)Ilcikd dpplications. Th¢ HCF invit¢S and commi88lons proposals. In the future we envisage havin8 ¢alls for proposals in Order to broaden our gtxnlee bu¢. The HCF will fimd a grant¢¢ or88nisation's core running costs, 8$ well as project-speBific costs. This Is in line wlth th¢ chvlty'5 objectiv¢ to support 4 healthy ¢ivi¢ SOCi¢ty where charities and NGOS ¢8n sustain th¢ir wurk and undertake activities that will best 8¢Tve th¢ir go81& Grantee6 do not need to be a ￿giStered charity but tbe a¢tivities and oim6 of the orwisation must be le￿IlY Charitabl The HCF supports OYEanisations of varytn8 sizes. T￿￿te¢S arc kten to help grassroot4 smati.to-medium.sized orgftnisations, and we employ various stra¢e8ies lo en¢ouraB¢ this. The HCF also funas larger oryanisations that Are using scale to further their airns. The truSIe￿ also reco￿1$¢ when there is a need to fvnd other donor$ who hav¢ fimdins netWOTks and exmise in areas where th¢ Hcf is unable to fund. In thc5e cases, the HCF is w¢ful to only fund don¢X$ who* value& align with the HCF and which keep their operating and u]minlstr4tive wsts low in order to maximise the fund$ that reach the intended b¢nefi¢iaries. EICF is flexiblc on the six¢ of the gran( and 15 willing to fund small amounts, around £1,0￿ I￿ ordtt to supp)rt smaueroryanisations. Por first-time grnntecs the upp¢r limit is usually £IOO.000 fora 12-month grant. Th¢ HCF increased its gratit expeThdlture in 2024. whi¢h is afi on-going aim. We identified new grantees who r¢¢¢ived iniilat funding in 2024. HCF continued its sUPPDrt to the mqiority of the or8anAS•tions w¢ had supported in the prnvious year. We have In¢rea*d our internal rapacity in order to achieve our long-t¢rnl goal of i￿[@￿51ng our grant gxpendltur¢. On¢ of our aims has been to provld¢ space for grnntses to innovat¢ within th¢ir Work. To this End, the Dream Proie¢t Fund hus been a succes& The initial funds w¢rr rel¢as¢d 2023, and the second yev of fijnding was provid¢d in 2024. We abo did a n¢w c&EI for pmposals in 2024 to start a n¢w batch of granteek We have been documcnting pro8res8 on this projeet to slwe with other donors in order lo advocatc this exciting approa¢h. We have mad¢ som¢ short films about the work undertaken by the grante¢s as we feel that th¢ video fonnat will be m￿t engagiTh8. The HCF conducted 21 sile v151ts to grantees, 9 meetings with iJther d￿Or& as MTII as undertaking a scoping trlp to Ncpol. Wo Ix)5ted mcetin8s for our grAnt¢e5 which 8re degi8ned to foster learnlng* ¢oop¢ralion and inspiration. These workshops further our aims uf 511PPOrtin8 a he4lihy civic soclety, sttEngthening loc4] or8ani5ation& slwin8 knowledg¢ 50 that our grantees, work will improve. As w¢ll as this. w¢ also hosted a meeting of th)nors in Indi& This will inforn ourworf( and see how we can be more Strth8iG at a higher Irvel. L￿r SI￿￿¢$ have largely b￿n able to undertake their planned ￿t[VItIes. We are happy ￿ be inviting grant proposals in P￿p￿S local languws and funding the Cost vf translatlons into English so that we G4n reach gr￿l¢eS ihat have previously missed out Dn funding from other donors because of a lack of fluency in EnBlish. Thi5 fits with our aim of rea¢hing maTginalised eornmunitiw. HUMAN CAPABILITY FQUNDATION REPORT OF THE TRuyfEES for the year ended 31 D￿ernb¢r 2(124 STRATEGIC REPORT Achlevern¢nt and perforniattee Fln*n¢iwl Revlew Total grants approved by th¢ foundation in 2024 wer¢ £1.947.029 (2023: £1ffj18,519). Total dcmations rec¢ivel by th¢ Charity iti 2024 all￿￿nted to £13,055.884 (2023: £3.856,807). The truster5 believè that the valuation of the iTrv¢stment properti¢s As at 31 December 2024 are N)t mAteria]ly diff¢renl to their market value& The trustees are Th)t qualified wrveyors bdi¢vc that this valuation rnethod r¢pt¥5ents a suffi¢iently accurate estlmaiion without the need to s￿Thd any of the ckority's funds on professional valuations. Durin8 the ycar reThtsl inconie received from th¢ prop¢rties owned by HCF amowited to £1253,556 (2023.. £1.235.579). These properties provide on%oing monthly sourcc5 of income from the rent. The HCF hold$ reserrts becAUS• we plan to be a long-terni fundcr providing snjall and medium-gized to organisaiions. At the year-end total ￿ollp reserves h¢ld w¢r¢ £95261.466 (2023: £81358.481 as restatsd). We hold rwrv¢5 to ensure that we ¢an ¢ommit to mujti-year fundin8 for grnnts¢s. Tbrou8b ilg trading subsidiary Downing Sustainable Imiestment l Ltd {DSU), wc invesled £7,346,000 In renewable ergy projècts. We have judged that a r¢newabl¢ enry purtfolio is in line with our cbarity's ethics as the funds are sed to create green ener8y resources. HCF is able lo secure a high return/risk ratio on ils Tenewable energy investmenrs du¢ to the instilutional txpertIs¢ il ha$ developed ihrough several years of work in the sector. A hi8b PToponion of the income from these inv¢stments derives from fced.in.tartifs whiGh ue UK governrneTht-backed, and therefi)tt poso very low ¢rrdil risk. A high proportion of the future income 18 elso linked to inflation indices. which prol¢¢ts th¢ real value of our re5¢rves from being emded by int]ation. Th¢s¢ inve3tmrnts are designed ￿ provide a flow of inoome throughout thetr lih rather tlwi simply ¢apital appre¢iatioo which make6 them suitable for supporting a ￿tUre streom of g￿l-MakIng exp¢nditure. DSII is managed by HCF and Downin8 LLP. At the end of the y¥ar, operationa within DSJI are p￿ceeding as planncd. At the date of finoJi8inR th￿B 8ttOUDts in S¢ptember 2025, w¢ are continuing to amin¢potential new inveslmcnts in re￿perly prepar¢d in aceordance with Unitcd Kingdom Generally A¢Lepted Accounting Practice: and have been P￿￿ed in accordance wlth th¥ ￿qUIrements of the Companies Art 2006. Basi5 for oplnlon We ¢ollduthd our audit in accordance with tnternationaI Standards on Audlting IUK) (ISAS {UK)) find applicable law. Our responsibilities under thosc st￿dardS are further described in th¢ A&ditors' resw)nsibilitie8 for the audit of the consolldat¢d fllwlcial statements section of our Twrt. W¢ are independent of th¢ group in a￿Ordance with the ethi￿1 T¢quirem¢nls that art r¢levant to our audit of the fin8ncAal statements in th¢ UK In¢ludinB the FRes Ethlcal Standa and we have fulfilled our other ethical responsiThiliti¢s in 4c¢ordance with these requir¢ments. We believe that tho audit ovidenco w¢ havo obtaln¢d is suffi¢i¢nt and appffjpriate io provide a basis for our opinion. Concluglons relatlng to goln8 eon¢ern In audltin8 the consolidated financisl statements, we hav¢ ¢on¢ludcd that the tru5tses' u$¢ of Ihe going concern basis of a￿OUnting Fn the preparation of the financial statements 15 Appropriate. Based on thp work we hav¢ porfornie(I w¢ h8v¥ not identified any mthrial ullctttsinti￿ rejating trj ¢vents or conditlons that, individually or o)Ilectively, may cast 3ignificant doubt on the group's ability to continue as a going 4xJnc¢rn for a p¢riod of at least Iwclve months ffom wh¢n the fTnancial $tatem¢nts are authoris¢d for is3u¢. Our Tesponsibilities and the responBibililies of the tru8te¢5 With respe￿ to Botil8 r￿nttrn are d8scrib¢d in tht rtl¢vant sections of this reporL Other Informatlon The trustees are responslble for the other information. Th¢ Olher InfO￿atIOn ornpriqes the Infomiation included in th¢ Annuil ￿Port, other than the fmancial statements and our Report of th¢ independent auditots thereon, Our opinion on the consolldated fTll8iiGial stst¢ment5 does not Cover tbe other infonnation and, except to the extent Other￿5¢ explicitly stated En our repo¢ we do not cxpress any forni of 8s5uran¢¢ ¢on¢luslon thereoJL In cornieetion with our audit ofihe consolid*¢d financial sla1cmcn￿ our responsibility is to Tead the other infmation an￿ in doing so, consider whtlh¢r th¢ otker inforniation is ma¢eriaIly In¢onsisteni with the finan¢io] $t8t¢ments or our knowled8¢ obtained in the audit or othcnvise appears to k m8terially misslaled. If we identify suth rnaterfal Inconsist￿rieS Qr appBrent material misswements, we are requtred to detemiine whether this 8ive5 rise lo w material n]isststcmcnt in the finaneiai statem¢nts themselve& If, based on the work w¢ have perfO￿¢d, we conelude that ihere is ft tllateriRI missiat¢m¢nt of this other inforn)81ion, we are rcquired ￿ report faci. We have notbin8 to rep¢rt in this OpkniDns on other matten prejeribed by the COM￿ll￿￿ Aet 2006 In our opinion, based on th¢ work und¢rtaken in the eour5e of the audit: the infomiation given in th¢ Rep¢)rt of th¢ Irustee5 ft)r ihe fmanGial y¢ar for which the COn501idated fu)hncial slaiements are mared 1$ ¢onsis*nt with the fJn8ncial stat¢ments' and the Report of the trust¢eA has been prepared in acxothe with appliLMble legal rquirem¢nts. REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HUMAN CAPABILITV FOUNDATION Matters on which we are wuired to r¢port by eKceptkJn In the li8ht orth¢ knowled8e arAd understanding of tho group and its environmNrt obtained in the Course of th¢ audit, we have Jx)t identified mat¢rial mi55tatements in th¢ Report of the trustees. We hav• M>thin8 to repDrt in respect of thc followin8 matters where the CompRDies Act 2006 requires us to report to you if, in our opinion: adequate a¢¢ounting records have not ken kept or returns adequate for our audit htve not b2en rrteivgd from brancks not visited by u4 or the fmancial statements are not in agreemem with the accounting re¢oThfs and returns: or eertain dis¢losutC5 of trustses, remun¢ration sprcified by law are not made; or we have not roceived 211 the information and expknation$ w¢ requir¢ for our audlt. Respon6ibilltle8 of Iru&t¢es As explAin¢d morè fvlly In the Sta*ment of IriJst¢e5' ￿spOnSIbl11tics. the truGt¢e$ (who ar¢ dso the directors of the charilable ￿MpanY ft)r the purposes of company law) are responsible for the PTeparation of the financial statements and for belng satisfJ¢d that they £ive a true and fair view. and for such intemal control &$ the trustees deterniin¢ 15 n¢cessary to enable the prep￿atIOn of f￿ancial 8tatements that ar¢ free from Materi￿ n]i55tatem¢ni. wheth¢r due to fraud or em)r. In pr¢p8ring the financial ststements, the trustees 4re resm)nsible for &46¢S5ing the ¢hAtitabl¢ compangs obility 10 continue as a Eoing Gonc¢rn, dlsckJsitt& as appIicable, matters reIated to going CDncern and u8in8 the going concern bosis of ac¢ountill8 unless the thgtees eith¢r int¢nd lo IEquid&ts the ch8ritablÈ ¢ompany or to cease operations, or have no r¢alistAf alternative but to do so. Our re8ponsibilitfi￿ for the audlt of ¢he finan¢lal ststwnents Our objectives 8r¢ to obtain rea￿Trable assbrance about whether the finen¢ial $totcments as a whol¢ are free from maieriaI misstatem¢n( whether due to f(wd or err￿, and to issue J Report of the ittdep¢ndont auditors thit inoludes Dur opinion. Rewn2bl¢ assurance is a high level of assuran¢e, but is not a 8uArant¢e that an audit ciJndu¢l¢d in accordonc¢ with ISAS (UK) will always dct2ct a materi41 misstatement when it exists. Misstatern¢nt5 can arfse from fraud or ernr and Are Considered materiil if, individually or in the aggreB8te, they wuld reasonobly be expected to Influen￿ the ewnorni¢ decisions of usezB tok¢n on the b&si$ of these fmancial $rat¢rftent& Thetstent to which our procedur¢s 8R capable of d¢l¢¢ting irreg4laritl¢4 including fraud is detail￿ below: In idenlifyln8 arld 4ssessin8 risks of mat¢rial mi8siatcm¢nt in respect of irre8ulqritie4 including fraud and error. we consi&red the followin8', - the nature of the Industy. control enviTonrn¢nt bu5in¢ss pvform8nc¢: - Trsults of our ¢nquiries to mana8¢ment about theiri)wn assessment of the risks of fraud and error, - th• matt¢rs discussed among Ihc audit en8agemMi *am regarding how amd where fraud may occur in th¢ financlal sta¢ement8 and any pot¢ntial indlcators of fraud. Our proeedurcs to respolld to risk ill¢lude the followin£: - reviewing the thancial statement disclosures and te5tinB to supporthg documentation; - perfottning analytical procedures to identify Any unusual OT unexpected arcas Ih4t may indicate risks of Dmterial misstatemcnt due lo fraud OT eyror, . addr¥￿￿￿ the risk of fraud and error thr￿gh management Ove￿ide of ¢ontrol4 iestlll8 the appropriaten¢5s of journals, asscssing whether the judgements made in makins accounting estim8teg 8tt indicative of a potential bias. and cvatuatin8 the buslnes$ rational¢ of any si8nlfi¢ant transactions that are unllsuai or Outside the nornial course of business. A fillther description of our ￿SponsIbl11ti¢s for the audit of the finanoial ststements 1$ locatsd (m the Financia] Reporting CnunGil's w¢bsit¢ at wWw.fv.or8,ukJauditorsr¢sk￿jnsib]Iities. This de5ffiptton frtrrnis part of ourRwt of the Indq>endenl Audilors, REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF HiJMAN CAPABILITY FOUNDATION U8¢ of ollr report Thi3 is made 301ely to dLe parent charitable comparty's members. as a body. in accoTd8nce with Chaptsr 3 of Part 16 cf the Companie5 Act 2006. OUT audit work has been undertaken x• that we mi8ht Stst¢ to thE parent charilabJ¢ rknmpany's members those matters we are required to state to th¢m ill an auditors, report and for no other purFQSa To the fullest cxteni pemiittcd by law. wt do not accept or assum¢ Tcsponsibilty to anyonc other than the par¢nt charitable mpany and the parent eharitable wmpmy's members as a body. for our a￿lIt WOTK frir this or for the opinitins we have fornied. Paul Allan BSo¢Sc FCA (Senior Statutory Auditor) for and on behalf of Berringcrs T.LP Chartered Accountants and Statutory Auditors Lygon House 50 LAmdon Road Broml¢y Kent BRI 3RA HUMAN CAPABILITY FOUNDATION CONSOLIDATED sfATEMENT OF FINANCIAL ACTIVITIES (JNCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year eDded 31 Deeemb•r 2024 2024 As restated Unrg5tTiQted nd iknreBtrl¢ted knd Notes IknatM>ns and kgacies Other trgding acthltlo8 trAdin8 operntions Investnxnt In¢onr 13.D55,883 3WI867 27J51092 Zl,634.429 07 3.5fAI 475 4<453.782 35.051.771 Costs of ra161ag Conr£rci&l trHding operattons CharilalAe AelI￿lI•S C*onts O¢h¢r 28￿77046 27,591a67 1,947Jb29 555 440 I￿18,319 Totsi 31J179,515 29.711x735 N¢t eAIDsI(10sJeB) on Inwsllnollts UnMal56¢d gains/(los8es) on trd ag#¢¢ lThv¢stnrnts Un￿alised 8ains/(105ses) on Investhrnt property Real￿1¥d 8ainsl(J05seg) on fLwd asset lrtv¢sttr£nts R¢ali5ed 8ainJlOosses) on investTrnt propcty 15 16 {477ffj56) I￿501) 15 16 74 (138386) 275.691 NEf ll¥COME 12,902,985 111471.840 12,902,98S EOA71,840 Ta¢al Irougbt fOnTrard￿ We￿0￿51Y re￿rted Prior &ffjll8tment 83 J34,A 13 71186.641 (1,175￿32) 95.261466 Th¢ consolidated statanent of finan¢ial activities inclulks all gains and1055es reco￿1$¢d in the yeftr. All income and expenditure arisen from continuing activiti¢5 ofthe gmup. The notes to the a¢￿U￿ts are shown on paw 14 to 31. The notes fom part of th￿e ftnancial slatem￿ts 10 IIUMAN CAPABILITY FOIJNDATION CONSOUDATED BALANCE SHErr 31 D¢¢ember 2024 abthty 2024 2024 Asrdtsirfd ilwMtrleted UnNliicled ibmtrkt¢d un￿￿tIk1•d nd Ad fund Noté8 (lJod*dl TwiiA• #lets 13 49.I•Oa23 JOJ 14 6W3AJ4 61035 236J15 zn381 Inv￿1￿￿￿ Inve81Th￿l PTOPO Is 16 S,161I82 4661ISO 4WIO47 419W81 27h400•0 17h4•08• 484W 88095019 84￿913 7¥7I772 71A1817Q Debt•t8'. Iiixiunts fallkn8 due withal one year 17 Im: an￿￿￿11 f4llin8 dut afterThrn 18 one ymr Slo¢ks Jnve51nxn18 Cash it bw 8.137J85 34624J93 6W18 33P2A172 471AIM 4095 40a90J99 4,ISZ,710 UCrf9l79 19 2923,689 Sffj65.422 102WI 4W95 50031,677 SOJfA791 421711031 41067,761 Anwts due withal on• y• 21 (13JOO.799) (21J72361) (&731J63) 121J6U37J 37037178 36,138*8 TOTALASSEIS C1XRINTJ14Bllm￿ 126J33h96 113,137,345 10&712J40 19.1( 189M6 Auy)unts falliD8 d¢)e xi than oney (31m2030) PI774861) NEfASS 94261h66 8135&481 108,712 Unrntrktsd fi￿dI 95861866 81705.465 108.712¥0 9Q189966 . 81358,481 108 71214 ' I ststem¢nu wut approved by the Bowd of Ththes and autsised_for_iswe.....•X .... 9]￿ were on iti bdkilf by. stee The fonllwtof thu¢ rtDfttteM li HUMAN CAPABILITY FOUNDATION CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 Deeember 21124 2024 2023 Reslared Notes Cask from A¢¢iTritie5 Cash 8enerared from opcrations Interest paid (3JSOA14) (2358935) 1679.ITJ (403,0571 Net ¢ash (used Inyprovided by opernting actlviti¢s (SJ09J49) 327AI16 Cash flow frum In￿stIng Rttiirytlel Ptst¢hase of tangbi k fi￿d assets Sale ofton8bi k fL￿ assets Sak of nv¢strnent property Sale of investrnents Pur¢hasc of flxd asset llivestments Nvlcash on acqutsition Rents and Dther incomr from Inv¢strnents (Purchaseysale of cuThent asset Invcstrnentj Int¢f¢Sl rec¢ived Divilends T¢ceiv¢d (185,910) 10,00 (354.661) 935.691 7233.841 (33.637,019) 16328 (I J88,005) 767.144 1.097ffj11 2AOOO00 2.713.799 234.597 1.067J16 12.400,IKIO) 252{915 16&Ch14 N¢t cash used in inv¢stin8 &Ctiviti¢5 5ffj65A64 (4A661,673) Cash l]ows from fillanclng actiiili¢¥ New loans lrt year an rep4ynMts In year 4.1)00000 (0￿97848) 42J3&669 Net cash provlded by fman¢thg activlti¢S (2,897048) 4133Q669 ChaD8e In eAsb andwh eqlllwl•nts In the reiwting prlod (2,741.733) (I,W888) C*sh ODd ¢qUi￿lents at tho lryinnlThg of tho 5ffj65,422 A714310 Casb and ¢4sh tymlwlonts At the endof the -reprtln¥"￿rIOd.- The notss forni part of these financial stalmmts 12 HUMAN CAPABILITY FOiiNIJATION NOTES TO THE CONSOLIDATF.D CASH FLOW ￿AT￿mE￿IT for the year ended 31 Dectmber 2024 REfONCIt14TN)N OFiYKf MYCOMETO ]YET CASHFIA)W FROMOPIRAIINGAcfJvmF5 2024 2023 Re&tuled Nct Income for th¢ reprtlA¥ (as pr tht Stg¢emen¢ of flnattoial xtiryides) Adj￿I￿ents for: DepRciition Charges AmDrti8atlon of800d￿j] Financ¢ costs Intercst ree¢ived Dividends received Rent and other income from inv¢stments Donated assets LoNs¢sl(8ains) on inv¢8trnEnls {&ins) on sale of Investment pmperty (Cninyk+sJ on forei8n ¢￿ange IIRcreas¢yD¢cr¢ase in stocks (Increas¢) in dgbiorn IDocteaseylncmsc in credliozs 12,902,985 10.471A40 446A76 2312256 2aS8.935 12,713,799) (234J97) (1097ffj11) (12J35J83) 471282 385.852 545356 4D3.057 34915) (16&04) (1,067.516) (1,927.376) (4,835.113) (275.691) 305.f)62 349.759 (257,852) 1094254 183ffj97) (1,642831) PJ33,707) (80223) Nel ¢￿h (￿ed IDy￿0￿￿kd IDV opfAdots8 (3350,414) 3.679.173 ANALYSIS OF CHANGES JN NEr At 1.1.24 Cash tlow At31.1224 N¢t cthsh Cllsh at bank S,665,422 0,741.733) 2,923ffj89 5ffj65822 (2,741.733) 2,923fj89 IAquld resourcei G￿tren1 assets investmBntg 2AOO.000 (2rt00.000) 8,065A22 {5,141.733 2.923.689 The ￿teS fonn part of th¢se f￿anCIal stataneJtt8 13 HUMAN CAPABILITY FOUNDATION NOTES TO THE CONSOLJDATED FJNANCIAL STATEMENTS for the year ended 31 December 2024 STATUTORY JI¥FORMATION The Charity is a privat¢ Jimited by 8uarantee, registsred in England and Wales and a r¢gistrred chtrity in England and Wal¢s. The addr¢ss of th¢ registeréd office is Natco Cash & Cw, Silverdale Induslrial Esta Silv#rdale Road, Hayes. [￿dOn UB3 3BL. AccouwfiNG POLICIES Basls of pr¢pfirkng Ihe statements The f￿ancial statem¢nts of th¢ parent charitable Company. which is a publi¢ benefit entity under FRS 102. have b¢En prcpared in aw)rdan¢e with the Charities SORP (FRS 102) 'Accounting And Reporting by Charities: Staiement of Rrfommended Pwtirk applicable to charit1¢5 preparing their accout￿ in aC¢OTdan¢¢ with the Financial Reporting stand￿ applic&ble in the UK al￿ RepubliG of Ir¢land (FRS 102) (effe¢tivg l January 2019}', Financial Rgporting Stxndard 102 The Financial Reporting Stsndard appliGable in the UK and Republ1¢ of Ireland, and the compani￿ A¢t 2006. The financi41 statemeNs have been prBperc41 under th¢ historical cost ¢onveulion, with tht exception of invesknents whi¢h are included at market value. as modified by the rev￿u&l10n of ¢￿taIn asseis. The ￿s￿l￿10nd1 currency ofthe group financial ￿ateMents Is ihe Pound Sterling (£). Prepxratlon of the accounts on a golng ￿lle•rn ba8i$ Aftw rcviewing the group's for￿asts and projections, the trustees a reasonabl¢ expe¢thtion that the group has adcqu81e resource5 to Continue in operntional ¢xistenrK for the foreseeable futw#. Th¢ group therefore Continues to adopt thè 80ing concern basts in prepRring its finan¢jal ststemfj￿. Coniolldated Ilnanethl sttdt¢ments Th¢ finoJJcTai statements ¢onsolid&ts the results of the thtrity and its wholly owned subsidiarics (detsiled In note 15) on a lin¢-by-line basis. Subsidiaries are fully consDlidated from the date on which control is transferred to Ihe group. Prior ¢0 this, Trigon Snacks Trading Ltd was @c￿unted for as an as50ciale, Asso¢iatss are &ll ¢nti¢i over which th¢ 8wup has significant influence ljjt not control or joint control. Investments in ossocial¢s are ar￿Unted for uslng thc equity Method of acwuntin A separate Statement of Pinan¢ial Activities and In¢ome and ExpendtWre Account for Ihe ¢harity not begn presented be£au5e the ch&ity hA5 taken advantage of the ¢xemplion afforded by Companies Art 2006, 8. 408. SlgDlflc*nt Judgem•nts and eJtlmat¢s Preparation of the financial statements requirts mana8em¢nt lo make signifi￿lIJ￿d8ements and estirnates. The trnstees and directors have made 8Ssiunptions reg8rding th¢ reeovor•bility of trAde deblDf5 and have provided accordingly in the subsidiary finan¢i&l Stat<￿ent& Siock valua¢ioT2 is reviewed at th¢ ¢nd pf th¢ year. and key wummions are made in r¢I￿lOll to n¢t tgalisftbl¢ valu¢$ and obsolete or slow-moving sto¢k& Wher¢ necessary the diTKtors inclu¢k a provisir)n aglinst the sto¢k value for Trigon s￿￿ks Trnding Ltd. The trust¢es considtr the useful economic life of fLYed o5sds and astimate dgwrciation ao¢onlingly. Depreciation rat•s noted in th¢ accounting polici¢s and the depreciatwon totals for the yBar are Includ￿ in note 14. F(Y thc subsxd18ry company. Stron¢lAir8 Wind Estate Ltd, wind farni r¢ntsl ineome is on thc lev¢1 of enorgy generated. Previously. the final statsmgnt has not been available until after the financial statements have becn opprov¢l the￿fore the amount ￿Crned has b¢¢n baKd on an esttmate. This year, final 5tatemetst and invoic¢ have bcen made availabl¢ and th¢ a*rual of £1,3m for the variable ￿Trt ha5 been based on actuaI& (2023.. £1.3m ¢5timats restated) Th¢ only si8nificant estimate now ￿1&￿5 to the ROC RKy¢l¢ income of £121281. which has been based on intsrim eh¢rgy generation Tejtr and applying fflergy auction prie*$ (wivw.nordwolgroup.wml Intome All income is reco8nised in the Statement Df Financial Activities once the ¢h8rity h&8 ¢trtitl¢ment to the fund4 it is probable that the income will be received and the amount Can be mEasured reliably. The followin8 specific policics are applied to particul&r Categories of income.. The not￿ form pth of these financial ststcments 14 HUMAN CAPABILITY FOIJNDATION F40TES TO THE CONSOLIDATED FINANCIAL sfATEhlEm- eootlnued for tht y¢ar eud¢d 31 December 2024 ACCOULYfiNG POLICIES- contlmued - Income from don&ttons or grant5 is re&)gnis¢d when thett is ¢videnc¢ of ¢nlitJement to thc gif¢ receipt is probabl¢ and its amount Gan bc me&sured r¢li&bly. - Rentsl income from investsnent property and leas¢d out assets ar¢ recogniseAI when receipt i5 pro1￿ble and tltlernent is eslablish¢d. SO1￿ electrieity in¢om¢ relates to ele¢tri¢ity g¢n¢rated by solar panels owned by HCF and sold to related parttes per note 26. All income for the year ￿CludeS VA T. - Other trading activitie$ relth to th¢ realised 59IE of food products and consumer goods dottat¢d by rglat¢d pErtles at nil cost as per not¢ 26. No VAT is ¢harsed on these prodllcts and rninimal Itvels of stock arn held at the year end. Cornmtrcial ttadlng in¢owoe 15 measured * the fair va]ue of the ¢On$idvr4tion reeelved or r¢ceiYable excludi dis¢ounts, rebates. valll¢ added tsx and other sales t&xes. Turnover 15 derived fiom lh¢ 581¢ of goods and is recognised when the significont risks rewards of oWn¢￿hlp of the goods ￿ transferred to tlje buy¢r, th¢ price is d¢teryninable and th¢ wllection ofthe amount duc is reasonably assure ExpeDdllur• Liabiliti&5 4re recognised as expendlture as soon as there is a l¢gai or oonstructive obli8alion committin8 the ¢barity to thAt exper￿1￿￿, it is probabl¢ that o 1ransfer of eeonomic benefits will be required in settlement and the amount of th¢ obli8atiOn caD be measured reliably. Expenditttre includes any VAT which not be fully recovered and is a¢¢ount¢d for on an accruals b￿18. Expenditurc has been classified under headiny that aggregate ail co$t re14t¢d to th¢ category. Where costs Cannot b¢ dtttctly attributed to pvticular heading5 they have been 411ocAt¢d to activitles on ab88is consist6nt with iho use of resourGes, Grant& GrAnts off¢réd oubJe¢t to L￿dItIOn￿ which have Dot been m¢t at the y¢ar end dats are noted &8 a &)mmitm¢nt but ijot ae¢rued as exp•ndjtur¢, Other Expondlture Solar panel fix￿1 assds, Own￿ by the charity, used to 8enerate el¢¢trf¢ity inLy)me is d¢pr¢¢lat¢d ov•r lh¢ 15 y¢ar anti¢ipattd life on 4 straight lin¢ basis. Leased out fixed asseti used Io 8enmt¢ rental income is deP￿Cla￿a over th¢ 10 year antl¢lpAtsd life on a strai8bt lin¢ basts Within th¢ subsidiary companies depr¢¢iation is provided #t the following amiual rates in order tL> writs off ihe ¢08t las e3timoted r¢5idual Yalu¢ of each asset over its estimated useful Itrc. Plant H￿d machinery FTXtures •J]d fittin&* 15 - 25% on net bwk valu¢ Offic¢ ¢quipment 15 . 250kn on n¢t book value Solar panels 25% of the n¢t book vftluo 5Vts of c05t tkpre¢iation has not been provlded for on Land and Buildings. This relates wholly to land, for whi¢h no d¢preclation is provided. Tangible fixed assets are meuuTed at cost less ￿rum￿lated depreciation and any ac¢umulated Impaim)ent1058es. Goodwlti Goodwill, beln8 the amounts paid tn ¢onnepen8e8 CAin/(k>ss) on revaluatlon of inveslnxnts (Lossyprofit for the f￿ancIAl y (891,951) (315,T29) (4838.988) 2&779 The consolidatsd financi81 StstL￿¢￿ts include the r¢4ults of the below group undert8kin8s; TrR8on Snacks Trading Ltd, which bewne a subsidiary on 31 December 2020 when tht rerngininE 90Yo of the share capital w&q &Jnated to the charity, Downing Sustsingble Inv¢strnent I l.td, which wrtg set up in April 2022, wilh HCF being 100% sharehold¢r and Scots Wind Prowty Lt4 A subsidiary set up in luly 2023, with Dsll being lOO% Jhar¢hold¢r, wlxlch in¢orp¢)rates ils ttvo wholly owncd subsidiaTi¢S' Sustainable Land Acquisitions Ltd and Stron¢lairg Wind Eslate Ltd, Hom¢r R¢newables Ltd. whith was illCoT￿￿ in Au8USt 2024, and a¢quir¢d the Ihar¢ c*pitai of six subsidiaries in October 2024 (sho5￿ b¢low eons01idated). 23270.015 23J81.949 (61 IS34) 49009 234223 (184.414) 101919 3.82SJ96 l62.995 (2J37,599) 15,968 2,117J57 197,499 17o.r20 779 28Q.017 (234234) The figures above d¢tsil the amounts per the individual compkny financial statsmems. The and oxpendith is a4rusted upon conx)lid4tion du¢ tD th¢ ¢limination of the coryorate gift aid smount, inlercompany loan inwrest and rcntaI iTwme, INVESTMENf INCOME Group 2024 Cbarlty 2023 2024 Reslated R¢nts rceived Solar ekdricity in￿me (kh¢r fiKd u$s¢t invest - FIL tkposit arcount interest Loan inter¢st Bond irttere5t 1,048,556 49,055 234￿97 19J66 2J67,940 126,493 I￿30.579 3&937 168.044 57.OZ7 2242,146 23.7f2 la53￿56 49J15S 13Jffj78 3J98 2,844256 126.493 1.235J79 36,937 T2.819 43,529 2.316.W27 46.007 3 5dJ 475 The notes forn] part of these financial stat¢m￿lts 18 HUMAN CAPABJLITY FOUNDATIO I¥OTFS TO THE CONSOLIDATED FINANCIAL STATEMENTS- contllluul for the y¢ar ended 31 December 2024 CHARITABLE AcrivmES COSI3 fi￿dIng of activities (s¢¢ note Grmts (stt Dote 29) GRANTS PAYABL 21J24 Grants 1947029 ￿￿519 suppoKr COSTS FlnAn¢e Oth Totals Oth¢rr¢80U￿¢s e>pended The breakdown of5UPPOrt costs Li shovrfn rl the table below: Cost ty 83 97 639 137 555340 2024 Finane• Foreign eJrhan8e kisges Otb¢r Rates & water Insurnnce LE&t & h¢at Webslt¢ ¢ost$ Audit 8nd accounton IK84l and profe$$lonal fo¢s BAnk char8es Con¥ukancy & nJ4nagen%nt ft¢$ Trnvel & subsLgtcnce Bad debts Int¢rest pald Dcpreciation (83.697) 305,662 43 8&1 1&7Th) 9.887 765 12Q64y2 1217 17.700 2,487 621 238J103 16,714 258J16 63.123 40,956 4Q.956 195 187 DePr￿l&tILln char8¢s kn the parent charity of £40956 (2LU3.. £40,9Y•) are iDcludvd in other rcsouTce5 v4)end￿. 2024 F¢¢s payabk to tbe Charity's audkots forthe audit of the financial statenMts 8.850 7,850 2024 2023 Ikpreci&tion . own¢d asscts 446876 385.832 The notes form part of these financial 51atements 19 HUMAN CAPABILITY FOUNDATION N(YTES TO THE CONSOLIDATED FINANCIAL sfATEME￿- contlnue41 for the year ended 31 Deeember 2024 NET INCOMEI(EXPENDITURE) Net incourl(exponditUT¢) is stAt¢d after chargingl{cttditing): 2024 Auditorn T¢nwnerntxon- parent charny DepTe¢iatioL -owned a8$¢ts - pareiit charity (tture ¢bavged Ill $ulxidiwry comwl•s: Depreeiation - owned assets Profft on disposal of fiKd as8et8 AnK>rtisation ofBYEFS AND DIRECTORS 2024 2U23 w￿e9 and salarie9 SOCI￿ ge¢urity ¢osts Otherpen8k)ns wsts 3A96.773 293,506 100.156 3.890435 3A31,152 275.139 101.697 3 807.988 2024 Ditt¢tots' remunerntk*n Staff¢08tJ r¢lates to en¥¥ioy¢¢s and directors of th¢ iTrding subsidlary. The av¢rage number of eroloyees durins tke y¢arw848 as fDllows". Productk)n WaTehouse S&ks & administration 2024 114 118 23 144 27 152 Averng¢ number of er4)by¢¢s rcl&te5 ¢0 cr4)loyees of the tradlng 8ubsidkry. 11. TrUSTEES' REMUNERATION AND BENEFITS There wtr¢ no trustees, rem￿eratiOn or other ben¢fits for the ye4r ended 31 Decanbor 2024 nor for th¢ year ended 31 December 2023. Truste¢$' expenses Thm w¢re no trustees, expens¢s paid for the year ￿ded 31 D¢ceTnbw 2024 nor for the year ¢nded 31 D¢￿rnber 2023. The notes forni part of these financial st&em¢￿S 20 IIUMAN CAPABILITV FOUIYDATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENfs- eondnued for tbe year ended 31 DeeM￿r 2024 J2. COMPARATIVES FOR THE STATEMENT OF FifiANCIAL AcfiviTIES Total fund5 Domations and k8&cie Other a¢tl*lth¢s Cornmer¢iul trnding Operat￿n5 Jnv¢strnent Ineome 305&867 27.634.429 3,560A73 TolHI 35,051.771 Costs of raising Cot)YMrial trdding operntlons Ch74rltslAe ActI￿deS (hnts Cxhcr 27.591,367 1,618.519 5(Kl,849 Tothl 29.710,735 Unyealised 8ainsl(losses) on fiycd asset invest1￿ntS Unrealisvd gain$l(k)sses) on investn￿t property Rea]iBed 8ains/(losses) on fDEd ass¢t Invesiments RcaJi6¢d gain$/(losses) on Investh*nt property NCOME 166&501) 5.660.(Krf) (138.386) 275,691 10.471.840 Totsl lyought forrArd 71,836AI 81358,481 13. llYfANGIBLE FIXED ASSETS CROUP Restated COST At l January 2024 Addlrions At 31 D¢¢¢na¥er2024 50,882.049 977ffj48 510S9ffj97 At l January 20 arge fory¢gr At 31 Ekcemb¢r 2024 547,lJ9 1,212,256 2.759J75 NEf BOOKVALIiE At 31 Decemb¢r2024 49.100322 At 3] De¢ernber2023 SOJ34930 The notes forni p￿t ofthese financtal statcments 21 HUMAN CAPABILITY FOUNDATION NOTES TO THE CONSOLIDATED FINANCIAL sfATEMENfs. ¢ontiRued Tor the year ¢nded 31 Dtternber 2024 13. IKTANGIBLE PIXED A&SEI3 {eoDtlnued) The goodwill rdaks to th¢ xquisitien$es 2J)03274 682J14 62,996 626JOS 9,909J44 444259 61997 32.074 0,681A39 60ffj41 10,329ffj11 11557,805 13500 8￿19.930 11,557,805 164.444 IIOA66 18,450 13 21572 361 6731963 21961557 her creditors includcs £2.618,316 (2Q23: £IOJ13.11 I) owill8 to Downing Sustainable In￿tMent l Lt4 wholly owned subsxdiary> r¢latin8 to unpaid skn capitsl. Other loans in 2023 I￿l￿ded £11,557.805 owing to LT. Pa8ar•Ji. a close family member. This lo￿ wag re-assiBn¢d in the year to ChoithrAm Internation8] Foundation, 8nd hos subsequendy been donthd to HCF. CREDTfoRS: AMOUNTS FALLING DUE APTER MORE THAN ONE YEAR ChArtty 2024 2024 2tr23 Restatffd Bank loans 31 72 31￿72 030 The notes form p8rt of th¢se financial statements 28 HUMAN CAPABILITY FOUNDATION OTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- contlDyed for the yelr ended 31 Dee¢mber 2024 SECURED DEBTS Th¢ followill8 Secured debts are included within Cr￿lIors. 2024 Bank loans 32309 751 ￿864 The battk loan relatu to a faeility from Scottish Vidows Limited, with Lloyd5 Bank PIC as Security Tru5t¢e for the acqui8ition of Stron¢lairg Wind E*t¢ Ltd by Sustsinable Land Acquisitions Ltd tn &pt¢mber 2023. The loan is an Index link¢d tenn loan of £30.843,640 repayabl¢ over the period until 30 April 2042. The b81anco outstanding at the 31 December 2024 is £32262,446 (2023: £30,986,137). The amount shown in creditors is net of ihg arrangement fee of £195.038 (2023: £207273). The iM¢¥¢st rate on the loall in rea] terns is 2.64￿￿ We note ihat the caIculation is made up of a margin of 1.9% in addition to a compounded reftxence gilt rat¢ (variabl¢). The bank loan all-in rate is Indexed link¢(L The loan is subject to se¢wities and 8uarante¢s In the forni of a debenturc, share pledge and ￿slenatiOn of ttG¢ivables. MOVEMENT FUNDS At 1.1. R￿*￿ted Net n￿Ye￿¢nt in fvnds Iknrestrleted￿n C£neTal fund R¢valuation R¢5¢rve At 31.12.24 71OSIJ73 4J117.108 13J74267 (471382) 91325,640 4035026 TiyfAL FiM)S 82 58 02 L85 95361 Net nDven%8nt in fi￿d5, included in th¢ abov¢ ate as follows: Oihcr cogniged 8ainsl(losscs) tnconbn8 ources Rcsourees ew¢nded ihrestrleted fan &neral fvnd Revaluation R¢serve in fimds 44N53.782 (31O79JlS) 13074367 (471283) (471.282) TOTAL FLNDS 44 31079JlS 471382 12 02 Con¥*aratlV¢8 for ffovenrnt kn fiLnds Net A￿en￿l ni funds At 31.1223 Restoted At 1.123 Ullre$trlQt￿ thnd5 (knernl fijnd Reva]uatK)n Reserve 72310,337 (623J96) SJ41036 5,130,8114 77,851J73 4,507.108 71 86 71 Net llK)ver¢nt in fvn(ts, includcd in the above ar¢ as folbwB: Other reeognised gaiDs/(108ses) In¢0￿￿n¥ r¢sources Resourcr5 ewended Mov¢nMt in funds Unre5tr1eted thAKIJ (knernl tund Reva]uatlon R¢serYc 35.081,771 (29,7IO,73S) 5?4J,036 5.130,804 5,130004 TOTAL TrU¥DS 35,051.771 9.710 735 The notes form part of these financial stsleme4rts 5.130 804 10.471840 HUMAN CAPABILITY FOUNDATION NOTES TO THE CONSOLIDATED FINANCIAL STAT£MENTS- continued for the year Ended 31 December 2024 PR]OR YEAR ADJUSTMENT Within the subsidiary componies. a prior year adjusthlent Was T¢quired in Downing Sustainable Invcstment I Ltd to T¢C1￿51fy eX[￿nd1￿ previously cl&8sified ￿ le8al alld profcssional. ￿ r¢latill8 to the acquisilion of th¢ subsidiary. TherefoN adjustment has been made for £173,215 to reflaet the r¢¢las$ifi¢ation of th¢ ¢xpthdlture and the transfcr via intucomparAy balances. In StroneIairg WAnd E5tatr Ltd. an error was identified as relating to the cal¢ulotion of the variabk rent. A5 such the inLXsm¢ and expenditure for the group was overstated by £1.3nL. A5 a ￿5￿1t of the abovffj the goodwill ¢alrulati¢)n and amortisation has been rest4ted by £1.863. Th• net effe 3&937 11427 2J16,027 IA19,491 l.Y27 (6.9072S8) 3fj937 2A67,940 IIJ55083 ,146 1,19)9.491 1927.376 (A6L5,950) {15465.036) 04,972078) Entiti•J pAth k•y minaq#m¢ot In ¢ommoD Donatkn15 320 000 700,000 Trans•¢iion$ Mith sui¥ldl*ri Donations received The fotlowln8 amouot8 ar¢ included in th¢ ¢onsoIidat¢d and charity balantt sheet: E4rtitieJ wlth truits¢•lthreetorJ io comwn LoaD$ owed to T¢kn¢ed parties IL)ans ow¢d by r¢lat¢d parties Rent owed by Telaied partk5 9,180￿14 35,624,891 9.IN921 32,481172 4,063.123 40290498 34,093J62 Purcbases Tmdc balan¢e oiyed by related partics 702,998 17095 126 958 45￿59016 510,178 4020 39,748818 44J53,S21 LL)ans owed to ￿lated parties a05e fArnlly m¢nknrs tx)ans OWBd to re]ated parties 27. posr BALANCE SHEET EVENTS In June 2025. the TharAty's subsidiary ownin8 Sustainable Investments I Ltd. acquitEd IOOYO of th¢ shar¢ capitll of a new subsid￿ry. Curlew Pow¢r Lid for £l1.6m. Tbe xqutsition forms part of the investtnent in renwwable energy. (2ffjJ8J16) (10,313.111) (11.557105) (11.557,805) 21. CONfiNCENT IJABILJTIES Tbe ¢harity is Crntly involved in an on-8oin8 l¢saI (xse and ha￿ been advised to disclose no details at thig m()ment in tiffte. The notes fm part of these fllwcial $￿ementS 30 HUMAN CAPABtL]TY FOUNDATION NufES TO THE CONSOLIDATED FINANCtAL STATEME￿S- continued for the year ended 31 D¢¢anber 2024 29. INSTITUTIONAL GRANTS Totsl grants in 2024 approvd by the Foundation wer¢ £1,947,029 (2023: £1.619,5191 Thest were made up follows: Bellefi¢lary Ur8ent Action Fund ftir Wornen% Hurrmn 1O8hts (Asia & Pa¢ifv) Koll