2023-08-31-accounts - The Haydn Green Foundation

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CONTENTS		Pages
Reference and Administrative Details
Trustees' Report		2-5
Auditors' Report		6-8
Consolidated Statement	of Financial Activities
Consolidated and Charity	Balance Sheet	10
Consolidated Cash Flow Statement
Notes to the Consolidated	Accounts	12-38

					Endowment	Total	Total
		Notes	Unrestricted f	Restricted f	Fund f	2023 f	2022 f
Income and endowments	from:
Donations and legacies Other trading activities Investments			4,087,931 1,002,618 178,458		500,000	4,587,931 1,002,618 178,458	2,040,000 2,643 10,234
Total			5,269,007		500,000	5,769,007	2,052,877
Expenditure on:
Charitable activities Operating activities Legal fees in relation to probate			17,000 448,133			17,000 448,133	74,500
dispute and mediation Other activities			3,780 68,001			3,780 68,001	153,580 600
Total			536,914			536,914	228,680
Other operating income			14,287,291			14,287,291
Net gains/(losses) on investments Share ofoperating loss in associates Taxation ofsubsidiaries		10	135,204 (53,548) (45,276)			135,204 (53,548) (45,276)	8,643
Net income/(expenditure)			19,055,764		500,000	19,555,764	1,832,840
Reconciliation offunds:
Total funds brought forward			3,869,824	(6,000,000)		(2,130,176)	(3,963,016)
Total funds carried forward		23-25	22,925,588	(6,000,000)	500,000	17,425,588	(2,130,176)


			2023	2022	2023	2022
		Notes	f	f	f	f
Fixed assets
Tangible assets		15	216,485
Investments		16	4,259,932	430,202	22,134,203	430,202
Investment	property	17	5,421,925		2,599,000
Total fixed assets			9,898,342	430,202	24,733,203	430,202
Current assets
Debtors		18	1,612,230	5,013,460	101,165	5,013,460
Investments		19	1,111,612
Cash at bank	and in hand		11,750,514	3,427,728	4,189,770	3,427,728
Total current assets			14,474,356	8,441,188	4,290,935	8,441,188
Liabilities
Creditors:
Amounts falling due within one year		20	(130,928)	(1,566)		(1,566)
Net current	assets		14,343,428	8,439,622	4,290,935	8,439,622
Creditors
Amounts falling due
after more	than one year	21	(708,725)
Net assets excluding
provisions	for liabilities		23,533,045	8,869,824	29,024,138	8,869,824
Provision for	liabilities
		22	(6,107,457)	(11,000,000)	(6,000,000)	(11,000,000)
Total net assets			17,425,588	(2,130,176)	23,024,138	(2,130,176)
The funds ofthe charity
Restricted funds		23	(6,000,000)	(6,000,000)	(6,000,000)	(6,000,000)
Endowment		24	500,000		500,000
			(5,500,000)	(6,000,000)	(s,soo,ooo)	(6,000,000)
Unrestricted	funds	25	22,925,588	3,869,824	28,524,138	3,869,824
Total funds			17,425,588	(2,130,176)	23,024,138	(2,130,176)

	Notes	2023 f	2023 f	2022 f	2022f
Cash flows from operating activities:
Net cash provided by (used in)
operating activities	28		(899,660)		(7,186,037)
Cash flows from investing activities:
Dividends, interest and rents from investments		116,702		6,403
Income from associates		(61,561)
Return ofcapital on investments		1,130,005
Cash from acquisition ofsubsidiaries		7,717,528
Purchase of property, plant and equipment
Proceeds from sale of plant and equipment
Proceeds from the sale of investments		267,230		600,543
Finance income		83,697
Purchase of investments		(31,155)
Net cash provided by (used in)
investing activities			9,222,446		606,946
Cash flows from financing activities
Repayments of borrowing
Net cash inflows from new borrowing
Net cash used in financing activities
Change in cash and cash equivalents
in the reporting period			8,322,786		(6,579,091)
Cash and cash equivalents at the
beginning ofthe reporting period			3,427,728		10,006,819
Cash and cash equivalents at the
end ofthe reporting period			11,750,514		3,427,728

			Endowment	Total	Total
	Unrestricted f	Restricted f	Fundf	2023 f	2022 f
Donations	1,314,758			1,314,758	2,040,000
Legacies
	2,773,173		500,000	3,273,173
	4,087,931		500,000	4,587,931	2,040,000

					2023	2022
					f	f
Expatriate Advisory Services		pic			235,135
Individual Savings Accounts		Ltd			2,364,648	1,800,000
The PEP Shop Ltd					257,061	240,000
Chapel Bar Securities	Ltd				86,569
Liaison Life Insurance	and Investment		Services of Nottingham	pic	69,054
					3,012,467	2,040,000

			Endowment	Total	Total
	Unrestricted	Restricted	Fund	2023	2022
	f	f	f	f	f
Trading income from
subsidiaries	915,602			915,602
Bank interest	87,016			87,016	2,643
	1,002,618			1,002,618	2,643

							Endowment	Total	Total
				Unrestricted	Rest:ricted f		Fund f	2023f	2022 f
Rents received				106,713				106,713
Gains/losses	on	revaluation		27,985				27,985	3,831
Income from	fixed asset
investments				43,760				43,760	6,403
				178,458				178,458	10,234
Charitable Activities
Grants were	paid by the		charity during the period as follows:
							Endowment	Total	Total
				Unrestricted f	Restricted f		Fundf	2023 f	2022 f
Marie Curie									40,500
University of	Nottlngham			17,000				17,000	34,000
				17,000				17,000	74,500
Operating Activities
							Endowment	Total	Total
				Unrestricted f	Restricted f		Fund f	2023 f	2022f
Operating expenses of
subsidiaries				448,133				448,133
				448,133				448,133
uditors' remuneration			off8,229 is included		in operating	expenses ofsubsidiaries.
ther Activities
							Endowment	Total	Total
				Unrestricted f	Restricted f		Fundf	2023 f	2022 f
Legal fees relating to
administration	and transfer
ofestate				31,894				31,894
Other professional fees				5,988				5,988	540
Interest payable				27,630				27,630	60
Other operating		expenses		2,489				2,489
				68,001				68,001	600

					Endowment	Total	Total
			Unrestricted f	Restricted f	Fund f	2023 f	2022f
Gain on acquisition		of
investments	in subsidiaries		14,287,291			14,287,291
			14,287,291			14,287,291

Taxat,ion
		2023f	2022 f
Corporation	tax	43,701
Deferred tax		1,575
		45,276

							2023
							f
Profit/(loss)		before tax					(149,842)
Multiplied	by the standard			rate ofcorporation	tax in the UK of25%		(37,460)
Effects of:
Expenses not deductible			for tax purposes				34,836
Depreciation		in excess of		capital allowances			2,802
Adjustments		to tax charge		in respect of previous		periods	35,510
Share ofassociate tax							8,013
Deferred tax							1,575
							45,276

				Endowment	Total
		Unrestricted f	Restricted f	Fund f	2023 f
Income and endowments	from:
Donations and legacies		24,535,640		500,000	25,035,640
Other trading activities		37,961			37,961
investments		73,895			73,895
Total		24,647,496		500,000	25,147,496
Expenditure on:
Charitable activities		17,000			17,000
Operating activities
Legal fees in relation to probate
dispute and mediation		3,780			3,780
Other activities		40,437			40,437
Total		61,217			61,217
Other operating income
Net gains/(losses) on investments		68,035			68,035
Share ofoperating loss in associates
Net income/(expenditure)		24,654,314		500,000	25,154,314
Reconciliation offunds:
Total funds brought forward		3,869,824	(6,000,000)		(2,130,176)
Total funds carried forward		28,524,138	(6,000,000)	500,000	23,024,138

				Endowment	Total
		Unrestricted	Restricted	Fund	2022
		f	E	E	E
Income and endowments	from:
Donations and legacies		2,040,000			2,040,000
Other trading activities		2,643			2,643
investments		10,234			10,234
Total		2,052,877			2,052,877
Expenditure on:
Charitable activities		74,500			74,500
Operating activities
Legal fees in relation to probate
dispute and mediation		153,580			153,580
Other activities		600			600
Total		228,680			228,680
Other operating income
Net gains/(losses) on investments		8,643			8,643
Share of operating loss in associates
Net income/(expenditure)		1,832,840			1,832,840
Reconciliation offunds:
Total funds brought forward		(3,963,016)	(6,000,000)		(3,963,016)
Total funds carried forward		(2,130,176)	(6,000,000)		(2,130,176)

14 Charity Cash Flow Statement
	Notes	2023 f	2023 f	2022 f	2022f
Cash flows from operating activities:
Net cash provided by (used in)
operating activities	29		96,932		(7,186,037)
Cash flows from investing activities:
Dividends, interest and rents from investments		73,275		6,403
Return ofcapital on investments		380,005
Purchase of property, plant and equipment
Proceeds from sale ofplant and equipment
Proceeds from the sale of investments		211,830		600,543
Sale of investments
Purchase ofinvestments
Net cash provided by (used in)
investing activities			665,110		606,946
Cash flows from financing activities
Repayments of borrowing
Net cash inflows from new borrowing
Net cash used in financing activities
Change in cash and cash equivalents
in the reporting period			762,042		(6,579,091)
Cash and cash equivalents atthe
beginning ofthe reporting period			3,427,728		10,006,819
Cash and cash equivalents at the
end ofthe reporting period			4,189,770		3,427,728

Group
			Fixtures,
		Freehold	Fittings
		Land &	&	Motor
		Buildings f	Equipment f	Vehicles f	Total f
Cost or donated	value
1August 2022
Additions		94,932	47,610	92,011	234,553
Revaluation
Disposals
At 31August 2023		94,932	47,610	92,011	234,553
Depreciation
At 1August 2022
Charge for the period		1,584	4,563	11,921	18,068
Disposals
At 31August 2023		1,584	4,563	11,921	18,068
Net book value
At 31August 2023		93,348	43,047	80,090	216,485
At 31July 2022
Charity
			Fixtures,
		Freehold	Fittings
		Land &	&	Motor
		Buildings f	Equipment f	Vehicles f	Total f
Cost or donated	value
1August 2022
Additions
Revaluation
Disposals
At 31August 2023
Depreciation
At 1August 2022
Charge for the period
Disposals
At 31August 2023
Net book value
At 31August 2023
At 31July 2022

Group
	Investments in Associates	Preference Shares	Listed Investments	Unlisted Investments	Total
Market value
At 1August 2022			428,504	1,698	430,202
Additions	307,587	625,000	3,436,356	4,703	4,373,646
Disposals			(130,335)		(130,335)
Revaluations			27,985		27,985
Reclassifications/transfers			(380,005)		(380,005)
Share of profit/(loss)	(61,561)				(61,561)
At 31August 2023	246,026	625,000	3,382,505	6,401	4,259,932
Net book value
At 31August 2023	246,026	625,000	3,382,505	6,401	4,259,932
At 31July 2022			428,504	1,698	430,202

Investments in associates	f400,000
Preference shares	E625,000
Listed investments	E3,280,211
Unlisted investments	E6,401
Total	E4,311,612

Listed investments	Listed investments	E354,195
Unlisted	investments	E1,698
Total		E355,893

Charity
	Shares in
	Group	Listed Investments	Unlisted Investments	Total
	Undertakings
	f	f	f
Market value
At 1August 2022		428,504	1,698	430,202
Additions	18,750,000	3,436,356		22,186,356
Disposals		(130,335)		(130,335)
Revaluations		27,985		27,985
Reclassifications/transfers		(380,005)		(380,005)
At 31August 2023	18,750,000	3,382,505	1,698	22,134,203
Net book value
At 31August 2023	18,750,000	3,382,505	1,698	22,134,203
At 31July 2022		428,504	1,698	430,202

The historical cost offixed asset	investments as at
Shares in group undertakings	f18,750,000
Listed investments	f3,280,211
Unlisted investments	f1,698
Total	f22,031,909

					Group			Charity
				2023		2022	2023	2022
				f		f	f	f
Trade debtors				8,817
Amounts		due	from associates	942,027
Tax				53,095
Contingent		asset				5,000,000		5,000,000
Other debtors				182,987		13,460	101,165	13,460
Prepayments			and accrued income	425,304
				1,612,230		5,013,460	101,165	5,013,460
Current	Asset Investments
					Group		Charity
				2023		2022	2023	2022
				f		f	f	f
Listed investments				469,908
Unlisted	investments			641,704
				1,111,612

reditors: Amounts	falling due within one ye	ar
			Group			Charity
		2023 f		2022f	2023 f		2022 f
Bank loans and overdrafts		71,527
Trade creditors		1,866
Social security and other taxes		25,881
Other creditors		5,318					1,566
Accruais and deferred	income	26,336
		130,928					1,566

redit	ors:	Amounts falling due	after one year
					Group			Charity
				2023		2022	2023		2022
				f		f	f		f
Bank	loans	—1-2years		73,380
Bank	loans-2-5 years			231,742
Bank	loans	—&5years, repayable	by instalments	403,603
				708,725

Provisions	for Liabilities
			Group	Group	Charity	Charity
			2023	2022	2023	2022
				f	f	f
Compromise	agreement		6,000,000	11,000,000	6,000,000	11,000,000
Deferred tax	—arising on revaluation	of
investments			107,457

Period Ended 31August	2023	2023	As at					Gains/				As at
			31/07/2022 f	Incoming		Outgoing f		(Losses) f		Transfers f		31/08/2023 f	2022 f
Compromise agreement			(6,000,000)									(6,000,000)	(6,000,000)
			(6,000,000)									(6,000,000)	(6,000,000)
Year Ended 31July 2022			As at					Gains/				As at
			31/07/2021 f	Incoming f		Outgoing f		(Losses) f		Transfers f		31/07/2022 f	2021 f
Compromise agreement			(6,000,000)									(6,000,000)	(6,000,000)
			(6,000,000)									(6,000,000)	(6,000,000)
Restricted funds are held		in	respect of a legal	liability	under the terms		ofa	compromise	agreement		with	a third-party	charity, which
is detailed above in Note 22.
24 Endowment	Funds
Period Ended 31August	2023		As at					Gains/
			31/07/2022 f		Incoming f	Outgoing		(Losses) f		Transfers f			2022
Meadow Lane property	lease				500,000
					500,000							500,000
Year Ended 31July 2022			As at					Gains/				As at
			31/07/2021 f		Incoming f	Outgoing f		(Losses) f		Transfers f		31/07/2022	2021 f
Meadow Lane property	lease

Group
Period	Ended 31August 2023		As at			Gains/		As at
			31/07/2022 f	Incoming f	Outgoing f	(Losses) f	Transfers f	31/08/2023 f	2022 f
General	Reserves		3,869,824	2,885,029	(61,217)	15,670,084		22,363,720	3,869,824
Trading	Subsidiaries			1,069,221	(574,552)	67,169		561,838
			3,869,824	3,954,250	(635,769)	15,737,253		22,925,558
Charity
Period	Ended 31August 2023		As at			Gains/		As at
			31/07/2022 f	Incoming f	Outgoing f	(Losses) f	Transfers f	31/08/2023 f	2022 f
General	Reserves		3,869,824	24,647,496	(61,217)	68,035		28,524,138	3,869,824
			3,869,824	24,647,496	(61,217)	68,035		28,524,138	3,869,824
Group
Year Ended 31July 2022			As at			Gains/		As at
			31/07/2021 f	Incoming f	Outgoing	(Losses) f	Transfers	31/07/2022 f	2021 f
General	Reserves		2,036,984	2,052,877	(228,680)	8,643		3,869,824	2,036,984
Trading	Subsidiaries
			2,036,984	2,052,877	(228,680)	8,643		3,869,824	2,036,984
Charity
Year Ended 31July 2022			As at			Gains/		As at
			31/07/2021 f	Incoming f	Outgoing f	(Losses) f	Transfers f	31/07/2022 f	2021 f
General	Reserves		2,036,984	2,052,877	(228,680)	8,643		3,869,824	2,036,984
			2,036,984	2,052,877	(228,680)	8,643		3,869,824	2,036,984
26	Designated	Funds
				2023	2022
				f	f
Haydn	Green Doctoral Programme				17,000
Marie	Curie Project	ECHO		51,200	51,200
				51,200	68,200

		2023	2022
		f	f
Turnover		915,602
Cost ofsales
Gross profit		915,602
Administrative expenses		(443,553)
Operating profit		472,049
Other income		182,600
Share of profit in associates		(53,548)
Interest payable		(26,804)
Profit before taxation		574,297
Tax on profit on ordinary	activities	(46,064)
Profit on ordinary activities after taxation		528,233
Reserves at acquisition		11,767,756
Charitable donation to the Haydn Green Foundation		(723,203)
Reserves carried forward		11,572,786

Balance Sheet	Balance Sheet
As at 31August 2023
			2023		2022
Fixed assets
Tangible fixed assets				214,278
Goodwill				(69,999)
Investments	in associates			246,026
Investment	property			2,377,890
Other investments				629,703
Current assets
Debtors		1,890,788
Investments		1,044,930
Cash at bank	and in hand	7,491,692
		10,427,410
Creditors:
Amounts falling due within one year		(924,352)
Net current	assets/(liabilities)			9,503,058
Creditors:
Amounts falling due within one year				(708,725)
Provisions				(107,457)
Total assets	less total liabilities			12,084,774

Expatriate	Advisory Services pic (company	number 01352844) - continued
Balance Sheet
As at acquisition date —22 March 2023
		2023	2022
Fixed assets
Tangible fixed assets		232,021
Goodwill		(76,965)
Investments	in associates	419,684
Investment	property	2,377,890
Other investments		1,379,703
Current assets
Debtors		939,480
Investments		1,085,083
Cash at bank	and in hand	7,416,744
		9,441,307
Creditors:
Amounts falling due within one year		(648,382)
Net current	assets/(liabilities)	8,792,924
Creditors:
Amounts falling due within one year		(740,598)
Provisions		(104,916)
Total assets	less total liabilities	12,279,744

Profit and Loss Account	Profit and Loss Account
Forthe period 22 March 2023to 31August 2023
		2023	2022
		f	f
Turnover
Cost ofsales
Gross profit
Administrative expenses		(804)
Operating profit		(804)
Other income		17,603
interest payable
Profit before taxation		16,799
Tax on profit on ordinary	activities	(179)
Profit on ordinary activities after taxation		16,620
Reserves at acquisition		786,173
Charitable donation to the Haydn Green Foundation		(15,864)
Reserves carried forward		786,929

Comparatives	have not been shown since the entity was not owned	have not been shown since the entity was not owned	by the Haydn	Green Foundation
Balance Sheet
As at 31August 2023
		2023		2022
Fixed assets
Tangible fixed assets			57
Current assets
Debtors		800,265
Cash at bank and in hand		1,111
		801,376
Creditors:
Amounts falling	due within one year	(1,928)
Net current assets/(liabilities)			799,448
Creditors:
Amounts falling	due within one year
Provisions
Total assets less	total liabilities		799,505

Liaison Life Insurance	and Investment	Services of Nottingham	(company number 00934821) - continued
Balance Sheet
As at acquisition date	- 22 March 2023
		2023	2022
Fixed assets
Tangible fixed assets			61
Current assets
Debtors		799,782
Cash at bank and in hand		1(134
		800,916
Creditors:
Amounts falling due within one year		(2,228)
Net current assets/(liabilities)			798,688
Creditors:
Amounts falling due within one year
Provisions
Total assets less total liabilities			798,749

			2023	2022
			E	E
Turnover
Cost ofsales
Gross profit
Administrative expenses			(3,776)
Operating profit			(3,776)
Other income			20,584
Interest payable			(761)
Profit before taxation			16,047
Tax on profit on ordinary	activities		966
Profit on ordinary activities after		taxation	17,013
Reserves at acquisition			200,106
Charitable donation to the Haydn		Green Foundation	(20,049)
Reserves carried forward			197,070

Chapel Bar Securities Ltd (company number	Chapel Bar Securities Ltd (company number	01127898)—c	ontinu	ed
Balance Sheet
As at acquisition date —22 March 2023
			2023		2022
Fixed assets
Tangible fixed assets				2,470
Investment	property			445,035
Current assets
Debtors		2,565
Investments		70,101
Cash at bank	and in hand	102,260
		174,926
Creditors:
Amounts falling due within one year		(408,096)
Net current	assets/(liabilities)			(233,170)
Creditors:
Amounts falling due within one year				(14,129)
Provisions
Total assets	less total liabilities			200,206

Period Ended 31August 2023	Unrestricted	Restricted	Endowment	Total
	f	f	f	f
Tangible fixed assets	5,138,410		500,000	5,638,410
Long-term investments	4,259,932			4,259,932
Other assets and liabilities	13,527,246	(6,000,000)		7,527,246
Tata I net assets	22,925,588	(6,000,000)	500,000	17,425,588
Year Ended 31July 2022	Unrestricted	Restricted	Endowment	Total
	f	f	f	f
Tangible fixed assets
Long-term investments	430,202			430,202
Other assets and liabilities	8,439,622	(11,000,000)		(2,560,378)
Total net assets	8,869,824	(11,000,000)		(2,130,176)

Charity
Period Ended 31August 2023				Unrestricted	Restricted		Endowment	Total
				f		f	f	f
Tangible fixed assets				2,099,000			500,000	2,599,000
Long-term investments				22,134,203				22,134,203
Other assets and liabilities				4,290,935	(6,000,000)			(1,709,065)
Total net assets				28,524,138	(6,000,000)		500,000	23,024,138
Year Ended 31July 2022				Unrestricted	Restricted		Endowment	Total
				f		f	f	f
Tangible fixed assets
Long-term investments				430,202				430,202
Other assets and liabilities				8,439,622	(11,000,000)			(2,560,378)
Total net assets				8,869,824	(11,000,000)			(2,130,176)
Reconciliation of Net Income/(Expenditure)			to	Net Cash Flow from Operating			Activities - Consolidated
							2023	2022
							f	f
Net income/(expenditure)	for	the reporting	period	(as per the Statement		of
Financial Activities)							19,555,764	1,832,840
Depreciation							18,068
Losses /(gains) on investments							22,664	(3,831)
Dividends received							(20,585)	(6,403)
Rental income							(106,713)
Finance income							(83,697)
Loss/(profit) on the sale of	investments						(118,723)	(8,643)
Share ofassociate (profit)/loss							61,561
{Increase)/decrease in debtors							3,958,102
Increase/(decrease) in creditors							(5,244,082)	(9,000,000)
Non-cash legacies received							{24,774,760)
Fair value adjustments on legacies received							5,785,890
Tax paid							46,852
Net cash inflow from operating		activity					(899,660)	(7,186,037)

		31/08/2023	01/08/2022
		f	f
Cash	and cash equivalents	11,750,514	3,427,728
Year	ended 31July 2022
		31/07/2022	01/08/2021
			f
Cash	and cash equivalents	3,427,728	10,006,819

	01/08/2022	Movement	31/08/2023
	f	E	f
Net cash
Cash at bank	3,427,728	9,103,038	12,530,766
Debt
Debts falling due within 1year Debts falling due after 1year		(71,527) (708,725)	(71,527) (708,725)
		(780,252)	(780,252)
Total	3,427,728	8,322,786	11,750,514

							2023	2022
							E	f
Net income/(expenditure)		for	the reporting	period	(as per the Statement	of
Financial Activities)							25,154,314	1,832,840
Depreciation
Losses /(gains) on investments							(27,985)	(3,831)
Dividends received							(20,585)	(6,403)
Rental income							(25,325)
Finance income							(37,961)
Loss/(profit) on the	sale of	investments					(68,035)	(8,643)
(Increase)/decrease	in debtors						4,898,835
Increase/(decrease)	in creditors						(5,001,566)	(9,000,000)
Non-cash legacies received							(24,774,760)
Net cash inflow from operating			activity				96,932	(7,186,037)

Perio	d ended 31August 2023
		31/08/2023	01/08/2022
		f	6
Cash	and cash equivalents	4,189,770	3,427,728
Year	ended 31July 2022
		31/07/2022	01/08/2021
			E
Cash	and cash equivalents	3,427,728	10,006,819

	01/08/2022	Movement	31/08/2023
	E	E	E
Net cash
Cash at bank	3,427,728	762,042	4,189,770
Total	3,427,728	762,042	4,189,770