2024-03-31-accounts

Chariry. nUm￿r.. 11.55564 IGY Foundatlon Tru51L'L'S' RLpiJrt Flnanclal StslLJML￿nlS For thL' yLbarended 31 March 2024

IGY Foundation Contents Page Reference and administrative details uf ihe Charity, its Trustees 2nd advisors Trustees. report Independent auditor'5 reporton the f[nanci￿ Sta￿￿ents Statemenl of finanlial activities Balance Sheet Notes to the ftnanclal ststements. 10-17

IGY Foundation Reference and administration detail.s of the charity. its trusteesand advisors For the year ended ?] March 21124 Trustee5 D Sleep. Chati M %1 B5Tne. TNstee A R hlonlgotnery.'I'iusloe S C Sleep. Trustoe Charlty number 1155564 Principal office IA Burnsall Street LA)ndon SW3 3SR Independenr auditnr Saffery LLP Midland Ilouse 2 Poolc Road l(iurnemouih BH2 iQY Ilaiikers C. HL)arL. & LI) 32 Loiimde% %treet Lvndon SWIXgH£

IGY Foundation Trustees. Report or the year ended 31 March 2024 The i rustL￿$ pre5eiit thoir 4innual report together ivith thcaudited financial slaiements of Lhe l.G.Y. Foundation lor ihL' yL'2r to 3 1 NfArch 2024. Tlie aLiounts have been prepared in dLcordance with the aLxounting policie5 set uul in noiL' 2 tts the aciuujils compls. Ivlth the Foundation's artiLle5 0(associaiion. Ihe Charities Art 20112nd"AccountinE an(1 Reportin8 by Charilie.%.' %taiemeiil of RLbiommL'iidL'LI PTactice~ applicable lo chdrities preparing iheir ilCiUUJlts iii accordance Ivith thL Financtal Reporting SL'ind.'Ird applicable in the UK and R¢public of Ireland IFRS 102}. The ILY Poundalinn makes donatsons and grant% 10 a limired number of ch11 rities principally r(Ir ihL, benefit of 5roung people.-I'he Il'y l.oiindarion hc?s re.ccived or eKPCCLS io rocoivtr funding from IGI, LimiLL.d Lind Sleep. £L1kiriil and Company l.IniilL,d. I'.(Inding from ihe Mryder public is not 50UEht or expcctLYl.-Ihe fround4Jlii)n d()L'S not usually respond to unsolicited request5 for dnnatii)ns ihe rrusiees prefer to do their oivn research it sses5in8 ivhich potentlal causes lo suppori. Our strong preference is that donations are. as much as is practical, anonymous. More information aboui the IGY Founddtion. our wider ihoughts on philaiithropy, as well as the letters of the Nomad Invc%tn)cnr Parthership, can found at the Foundaiion's wcbsire. I￿￿.1￿fOUnddknOn.or￿.uk Obl￿tIveS dnd aLtlvltles a. P()IiLiÉiS and ol)lectlvps M)e prinLIpLiI objeciives of ihL, IGY Foundarion l-the FoundJiion") are to advAncc Anv PilTP05e ¢hal is ex¢liisivL.Iy charit.'Iblv according tv thL. Iiiw of Fn8111 nd and Wales. C.UTr¢nily. the Tru5Lees %upportin8 cliaritablL' aLtivilie5 fr)r thL, bL'nefil olchildren, vuung people. and ihose ib'llh disabilities. The fUUn(l￿1￿uft wlll offer Er¢l11¢s Jnd d()n,1tions ro a varicty ()fvrg3nisations aiid iiidivi(luals and advaiicÈ other iharitable causes. 'I'hL Tru%tL'L'% hili'L' PIF ILI due regard to Ruidance issued by the Charity Commi$5ion in déridiiiki whai activities tlie Fouiidation 5huuld underLiki'. In serring objL'Ctivcs and planning for aCtt￿ll￿eS. the TrusiLl￿ h￿l qiipen due ion5idÈr.'ILii>n L(J Renerdl 8uidaiicL' published by the Charirsi Commission relaring to public bern.fiL Includin8 the 8ui(IJJiLL,'Publi¢ benefil.. iunniiiki IJ charity (vu2)'. b. Achlevements and perfibrn)dnLe The'l'riistces proi4ded publi¢ b¢nefit bv donating a total of £2.la4.70012023.. £2,376,000) to J numbLr of ch..4ritlL'%.i% det111ed in this report. Cumulative donaiion5 by the Foundauon are in excess of£27m. Invesrment pertormiinre during the yt.-Ir WAS considered sJtisf.ictOT)' ￿.%en markei cvndiiions. c. Investment poll¢y and performance TEie Found.ILiun's investment pDIILv 15 to make lonK term inke51menis in d limited number of securitie5 fr01 around ihe world that are considered to provide reasonable Ion8-terni prnspects compared t(Tr LhL'ir market price. The Trustee5 have a55esSL.d ihL' mdjDr risks. Lo ￿,bILh the Foundatioii L5 exposed and are saiisfied that systeins And prviLTrsses are in placL lo mitigate exposure Io Such risk>

ICIY Foundation Trustees, Report [c(Trntinued) 'Di' the yedr endL.d 31 March 2024 Financial review a. (Ining ciiTJcer AfiL'r making appropriaie enfjiiiries, the'l'rusiew hai'e a reasonable Llxpectation tliat the charl￿ lias 11 dequdte re5t)urces to continue Ill opeiArional VKisle.nce for the forL'seeable tuture. for thjs rexson. Iliey coiilii)u to adi)Pt thi going L()ncern basis In preparin%the financial %latements. Furiher delails regardiiiR Ihe adoption olthe going cuncern basis C47n be ffjund in the aLcounlin8 policies. h. Reslirves piiliLy The bound..Ition'% poliLy Dn reserves Is to hold unrestrided fiiiid% at a level equivalLJ)I lu A niiiiimwn of 12-18 monrh'% pliRnned expendiiure. Thi.5 level of rese¥ves l)d% beeii iyiaiiitained ihrvuyh(iut the y¢(U". In additioi), Ihe Tru%tees liave chu¥'n to h()l(l %i%nifi¢:Iril ri'sL'ivLi4 as if ejidowed fund% to InvL￿( and prowde long term fundi)12 for Ilie Fouiid.'ation. until such iiJnL' a5 thc'tsc, funds are reouired for CJPiLII-Intensii?c proiert Fln¢in(-l#il p051tli)n AtyL'Ill' L'ricl,'I'lIL F()IiTidaiiun has total assers tsf £42.390.814 (202J: L.42.1¥4.7.741, miLdL up 01 £38,718,97612023: E28,.4,14,9491 uf r)xed 5SL'l% Ji)d £3.671.838121123.. £3.739,BOi) nf current 41ssets. This is adfylijate rn ci)VVl luliil liabililie.% ()f £17,UUO12023.. E165,040) giving J rotal nel %5et position of 142.'473AI 412023.. £.42,U19.7141. %tFucturL', R()vernance. and mana8ement J. (.'()nstltutii)n I,G.Y. FoLltiddliun is a reuiisiertd charlt),. number I l.)J564, and is a Charitihle Inix)IporalL'(I l)r8ani5a¢lon Lvllstiruiod by d constitution Jnd 1rricles ot assoLicltion adnptod by the rli:Irity on.'IO lai)uMry 2UI4. b. Trustees 'Il)L Trustces ivho served durin8 rhe year and up to the dare of 5iAnature c>f tlie Accounts ￿ere.. N D %leep, Chalr M M ESyTne, Tru%tce A R Montgomery, Trustee S C Slcep, Trustee c. Methnds ofappulntment nr elertlon nl Trn5tees Tlie'fru%lEe5 may dppuinl dny per5vn io bc one of their number. The Trustee5 revieiv rhe kn￿￿"IedEe Elnd experience of the Truslees and Identify. trdining nL'L￿s on JppointmenL %uiiablo tr.iinin8 IWII be pr()vided if reguifL'd. I)isclo.sure i)f information to auditor F.Iich of the persons who are Trusrecs at the time M.hen thi5 Tru5tees' report LS dpprovwl h.'Js ronlirmed that. So (aF as that Trustee is ai%'irc. therc is no rel￿,a￿l Audit information of which the charity'5 auditor is unaware, and -1Th1t Trustee has taken all the steps that ought ro have been taken as a TrusLLY in order ti> be aivdfL of any relevani audit informahon and ro esiablish that the cliarity's audilor is aw.Ire nf tlidt inlurmativn.

JGY Foundativ Trusteos, Report (continued) For the year ended 31 March 2IJZ4 The Trustee% are responsible for preparing the'friistees repnTI and the fI￿ancial sUi¢vtneiits in HIL()rdfinie wqth applicable law and Unitéd Kingdom Accounring Sta)idards (United KIn￿10M GeneTall}' Accepted Accounttng PrdCtice}. The law applicablo to chariri¢s in England & Wales requires the Tr￿SteeS to prepare financial sL3lemonrs for each tiMHncial year %whi¢h give a Lrut and fair weiv of ihe slate ot aflilirs of the Charity and of its Incoming reources And ippli¢dlius1 urre51lUfC￿, Iticludin% its income and expenditure. fnr tliat period. in preparin8 ihts%L. finanaal lalL'nlL'nls. IhL.'I'iu%t¥e% een folloived. subject to an5, ITiateridl dL'pAriurL'S disclosed and explaiiied in ¢he liiiaiicial statenients.. prep2rc LhL, fintiiici21 statements on the going concern basis unless It l5 inapprupridiL. tu presume that tlie ('.h1riry KTrll continue in business. The Trust￿1$ resptsnsible for keepinp. d(leiiudli' rfKC(bunlinR rec¢)rd% ih41 AT¢1 %iIIliLIL4nt tr) show 2nd explaii) the enable Lhem to ensure ihat the finatlcldl %lalL'men(s complv i%'ith rhg r.hAriliLi% Act 2011, the Chdriiy IA('i-i)iinls aiid Repi)rtsl Regulaiions 2008 and ihe provisions ofthe Trusi deed. ThL's' are also responsible fvr S¢ilL&J¥iilI'din the ds4et% of the Charity and hL'ncL, foi taklng reasonable sreps (or the pr¥vention and delection of frxii(l And other irregularilies. Approved by Order ofthe members ofthe board of Trustees and signed on its behalf by.. N D Sleep (Chalr Ot1￿U￿[CeSj I)ate'. Ill &LV ZOLq

IGY F()undation IndL'pendent Aud5ic)r'5 Report io the Member5 of IGY Foundalion For the year enitcd JI March ZQ24 Opinion Ive have audited the financlal.starements of IrTr' Foundabon fi)r the)'e3rended 31 March 2024 which comprise the sts&ment ol fin8p.ci#l activities. rhe b313nrc sheeL tht stst¥iner_t ufrashfloivs and notes to the Iinino81 Statements. Including Signifi￿nt 3ccountinE policieg. The finaniial rtrpo.-lJp.ky fraTnei%ork tlat has been applicd In rheir PFtp3r.itson Is 3pplicable law and Ilnired Kir.Edom AccounLIDR S&i)drfirds. inclubing FinantiJl Repomn StanLlard 102. the Financial Flcportjng SL7ndard appliiable in tne and RepubliL ol Ireiartd (United ￿ngdoM Generally Accepted Accounting Pr4¢tscel. In uur opinion the finJnLial SLqtemenfs'. ive a Lrue and ialr viem, cl ¢hc stste of th¢ch8r)Ws Affairs a5 at 31 Marih 2024and of its. Incoming r¥suurLEs an(t applicatlon of resou-. ws forth¢y¢3r then end￿.. hdve bL'er. prepared In i¢cordxr.tt %vith rlie re4uiI'emep.ts i?f Ihe fhariknes ALt 2011.. and h2ve heen praperly pr&pared in accur¢an￿? wILh Uniled Kingdom tsen¢rally IlcLEpled Acmunliryg l>rartice. Ilas15 lur oplnlon We conducred our audit in acri)rdl1 Ivlth Internatiuia., Sknndards on luditinK IUKI IISA4 IUKII And 3pplic3bli' law Our responsihilitic% una¢r ihnsL Standard5 are further desrribcd in the Auditcr'% resp(Jnslbilities for the audil ol EhL, Iinanci)I srJ¥emenLS seLlinn ol nur rL'par: Ive arL' Independcnt of the cha."ity in 2ccorJancL' Iv1th the crhlc31 requlrL'menL% th2t gre rclev3It to our Judii of the I'..ryan('Jal st)temenis In the UK. In¢luding the FR(.. s ELhlciil SL4ndard, and we h,1ve luifilled Dur r)ther ethical respnnsibllii'.L'S In accord￿ince wilh thtse rcqulrcmLDts. IVL, hellevL' Lhar Ihc aLidit evld¢nce we have obtsined 14 sulhLient And 8pproprlate ts provide a basis fo". our opiniun. (.'IlllLIusi011s relaLinx Iv kiuinx LX)ncern In audiung thc financ121 sJretril'nts, WL. hAv¥ Loncluded tllr the trusteL%' us¢ of the KolnK concL'rn hi?¥is of XCLuunllng In Lhe prcp3fdtion olthe fin.Ip.ci.?l <Lqtefflenis t% 3pprnprl4￿. Based on the work WL, have performed. we havc not Identhfiod any malerial unLErtsinttes relattng to events or condltivns th2t, Individually tsr calltrtlvcly. maj, CaS¥-signil¢LAnt doub¢ on Ihe ih-.Iril5 % abiliLy ro Ll)lltlnae as a o.'ng concern fui. a periud Lilai leJst N%'clve months.rr)rn w'hen dic li'.ianiial sLilernttnls arL' 3Utli¢)rised lor iysue. Our responslbllltt¢s and the re$ponsihJlitiL% o( Lhtt truslees wlth re5pert tts gojng concern arc described In the rglevant 5CCtions of thls reporL Other Informatltsn ThE trusrves are rcsponsihle lor the oiher Informatjon. The other informatytsn comprlses the inf¢)rmatson included In the annual repnrt, oth¥l' Ihar, Ihe financlal staLem.ents ond our 3uditcrfs report'.herenn. Ouri)piniott or. the flnxncixl SL?temenES doe5 not cover the otb.er informattcn and. exc¢pr ro the cxtent ntherwlse cxpllc511}' srated In our report. we dts not express any forrn nf assur2ticc tonclusion th¢r¢on. Ilur responsibility Is to re3d the oth¥r Inforrnation and. in doing so, consider whethcr the other informauon Is mJterialls' Incon%i_s&nL with the fin1nc'.al Sti41emenL5 or Jur knu￿.1tdge obtsinvd in the course Df the.iJdit or otherivisL'.1ppearF * be matenally miqsraied. If we identify such traterial iniur.SlSiEncies or apparent mdTrrial misstatemonts. WL. 3re require(i Iv delermine ￿'￿ether this ￿Ve5 rise to a matenal missthLement.'n thc fin3nc131 statL'ments themselves. If,b3sed i)n the iyork we have per(orrned. *'e cunclude that therÈ iF.I matcr121 Issiatemenl of this other iTrftrrm,ityon.' we are requ.'red ro report Ihat laiL We have nothlnLT to reportin this regird.

IGY F(Jundation Indeijendent Allditur's Report lo the MembÈrs ufiGY Foundatiun (contlDued) For ihe year ettded 31 Marth 2024 Matters on whith we requlred to reportby exceptio IYe113Yt to reportin respertof 4efdlowing matte in reltyun ¢0 which the Charitis IAGCountS Reports) Regulafjon$ 2008.-equlre us tor¢port toyou If. in dur oplnlon= thp Informatlon glven In rhe Trus:LNtrS' Ann￿al Rtport".5 En￿￿$15tent It) any maLLrial respect with the fln snda., statements- or the ch3rity nut kept sufficient rectsrds.. or the finap.c121 stsfEmenr5 are r.ot in agreemep.t with Ihe accounting rxords and return5.' or we have not received 311 the inform3ti0n ￿￿Thd explanatlvns we rL'quirc for our 3udiL Re5p(Trnslbilltles oftru51ees As explalned more fully In the Trusteeg Respon$lbilittes_£u*tement sec outon page.i. the trustees are respon%ible for the preparation of the flnanclal ststements and for beink> $4tisfied thal Lhe}'gii'e i true and fair vieiv, arid fur such Internal control as the trusteesdetennlne 1$ necess.?Tr tu enaile Ln¢ preparation ol fin1ncial 5tAtcments' th3L

re free from matsrtal mlsstatemenL wh¢therdue to fraud i)r error.

In prepdrlng th• financl.Il $L7￿Men(S. th¢ tyustee5 are responslbl¢ fi)r the chantrfs gblllty ￿ LontlnuL' d5 &qd)Iniy i.'ri[Ir4r¢Ldisclosiii8d dls Appllc'abie, mtt•rg relatsd ID gdJJ8 c'()nLvrn >ind ￿￿n9 rhoAJth8 baÈls Accounl.n% u11L'$5 the rru:L'es eiiher Jntvnd LO IlqUid..J=L tFie cnariLy or to ¥edst (Iyvraui)n¥. vr hJve no rea115dc %lternAtlv¢ bul Lo do so. Aii(Iltors' respvnslbllitli's for the audit ol the finanilal siatement% WL, have lTret'n ￿1ppI)IntCd as.'iuilit(Ir% unLlÉ'r the Chai'iknL%< 111 2UI l And r¢porl in aiLQI'dan¢E w'iih re8uIAUons madL' under tlial ALL Our obi¢ciive% JrL, il) obtsin reasonable as5u1￿7nL dbout whether the financial SLitements a ivhole 3re free from matL'rlil m1bstste￿ent whcrher due tc) fraud L>r Lrror. and ro issue an.iu¢itor%' ￿p1)rt Ihxr Include% cur opinion. IleA%onablL' 45surJn¢¢ is.) hi8h lei'el c)f a55uran¢e, bat 1% not J KuardntL'e that an 2ud1rc()nduLied Ir. acii)rddrt¢e wltl? ISAS IIIKI will JlwJs's detcct 2 material MISS￿(L'm￿nI whL'n li exists. miss￿￿Ments. ian Arise from Iraud or L'rrnv are eon51dered mJierial If. individu311y or in the xggrc%aLe. they cou'.d reasonablybL' expccted ra InfflufrnLL' thc eo>nomic deil%iony of uscrs taken on the b.1%i4 of ihe%e finanLial ststem¢nts. Irre%ularlttu, Including fraud. 3re Inscances of non-ts)mpl:.Ince wirh laws and regulations. We desiAn prnodures in l.n¢ wlth OLir rcsponslbilincs, oudiied.')bove. r'J detect material missL1temLnts In respect ol irre¥u.arlLie5, Includln8 fraud.'fhe SPLciftc proc2dur¥s lor this en%agernent and thc extrnt to which these are capabje of detecUTrg IrregulJritics, Includin8 trJud arc de&ili'd b¢lo¥i. Identifying and as%essin8 Tgl#iod tn irr•6uJaritJcS'. We assL'%sed thL' sustrptsbiliy uf the chariLy's finar.c5al st3L¢m¢nrs Li) m3teri.'Il rr.1%¥tatemenl and how fr2u4 Tr.Ight UCLUI.. Inc.udlng through dSscu_5sions i%'ii.'I Ihe LTU¥tees. dlscussjons within our.iudil teaTr. plinning meetingi updattThg our r¢mrd ol internal controls and eiisurlng these ccnirols operatrd ¥lS iniended. We evalu,Ited P05bible Incentlveb 3nd oppurtunitles fnr fraudL..ent m.: Ipulatlon ofthe fInanLial ststefflents. We Idenufled law% i?nd regu13Lions thAt aiÈ i)1 sixnlfj¢ancc in the context ofth.e charity by disrussions i*'ith trus{L￿% and updating our understsnding or the seiEor In whlch the ¢hanty operaies. Lai%'s d reLtulat'.ons o", dirL'rt $18nificance in L4e Lcintext of =he char".ty Include ihe LhariL]e5 Act 2011, the Charlde5 [Aicounts' Report5] Rvgularions 20011 and Ruidance issued Ety the Ch1rity Cotnmiqsion for England nd Walcs.

IGY Foundatlon Independent Auditor's Reporl ¢0 Ihe Members of IGY Foundatloll (coniinuedl For Ilie year ended 31 _MarLh 2024 AUJIL respcn5e to risks Jden-.ilied.. e cungidered the extent of complian￿ with these laws 2nd regulations as part of our auoit procedurc5 Ull the related fin3llcidl slatement Irems Iniluding a review ol fJnanrial.£tstement disclosures. Il'e reiriewed thL' Lh3rily'5 record% olhrg$2ihe ()f la%vs and regula:ions. minutL ul ￿l￿.￿tI￿s a￿d correspondence wirh rele￿an. Auihi)rilie$ 10 idenl,.ly puLenLidl tnaLerial misstaternents ari5inK. Il'e clisLU%sed the iF.xriiFs policies and procedure% for ompliaDLL' wiLh13ws and reBulatlDns wilh mernbtr￿ ol JnanA%emenL responsible for compli￿￿nce. During thc plannink Tr.eotSr.8 w)th rhe aud)t team, the eng3gÈmeTrt partner drew 2ttention to the key 2reA.4 which mlght Involve non-complian¢t wlth laws and regulations or fraud. ￿'e enquired of m2n3gement i%'hether Ihey were 2W2re af any In5tancc4 rjl non-wmpliance with law5 and regulalions or knoivledge of any acLual, suspeLted or Jlleged fraud. Ive aadr¢s5ed Lhe nsk of friud throug.1 r.ar.a8emenLnverride ofcontro15 by testins the appropriatene55 ofio4rnal ¢nlries and Id¢Dtifyiig 2n}. sigiif1¢2ni LransacLions that were unusual or outside thL' normal Course ol busine$%. We Jssessed s%'hether ludgements made in rn4kin& ar¢ountinR esiltnaies Ravt rls# to A pussible Indi¢arion mJnaktemenL bSJs. At rhe completion staKc af the audiE rhe en%3Rement par￿e￿$ I"eview Included ensuring that thL' ieam had approaclied rhelr ivork with ApprtspriaLe pr()le%%ionAI %ceptici£m 21 nd ihu% the iapaclty to Ident,,fy n0n-compl1an￿ wirh laws and reEulanDns and fraud. I'here 21 re Inherent limitaknDn¥ In ihL' audii procedure$ described Jbove Jnd th¢ further r¢mov¢d non-compliance wilh liWS and regulilion5 i) Irgm the ¢venu% aryd tran$2rtions reflec￿1 In th.e fir)ana31 staternents, thL, IL'5Y IikL,Iy wc would become warc vl iu Also, Ihe rlsk ol not detectiJ)g 2 maLeriJl misstatement due to fraud is hikJhL'r ihan th¢ rtsk ol int detL%ciinky onc resu.iing from error. as fraud may involvt deliberate concealrnent by. for ¢xtimple, furgtry, or intentional misrepresentallons. or throuRh collu510n. A lurthe.. degcrlprlDn of our responsib11ities is aviilaktle i?n Ihc Financial Rcporung CA)uncII's wLbslte aL' ww.Irc.or&uk/iiuditorsresponsibllJtie%.'fhi% dLsLfipLiun (nrns partof our auditorfs rL'pofL 15%L' i)1 our reporl 'I'hi4 report Is made solely tn thc ch21￿S truS￿e5. 25 a hndy. in accordan￿ with Part 4 nf thc (.'haritics [A￿0￿ntS and R¥portsl Rtp.1111rinn% IiinR. nur Audit work ha% beLn JndLrL4ken so that we rn.¥Jht 5L1tc tn thL tru%eq thns¢ m1fLer% we are rL'qLiirL.d ui btslttr to Ehem In an iuditnrf4 rL'p()rtaDd for no oihe". purpths¢. Tts the fullest extent rermitted hy laiN'. W'L, d<> not accept orassamL' rLSP()nsiblllLy to anyone other than the charity )nd the trustee$ 2$ hody, for our iiudit ￿[]rk. for thls reporL or for ihe opinions we have formed. LLP Salfery LLV Midl.'Ind Mouse 2 Poole Road IlourneTnouth StaNtory Auditurs BH2 JQY Date. 11 November 2024 Sallery ig eligible LO act as an auditor In ternL5 of section 1212 of rhe Companies.4ct2006

IGY Foundation ststetnent of Flnanclal ActlvStios or the year ended JI March 2024 Unrestricted funds Total funds 2024 Total funds 2023 Noie Incomi. Irum Inpe5tnlLnL 378,990 378,990 84.376 'I'ntal Income EKpeiiditure on.. Ch¢)rirable acriviries 378.990 378,990 114,.47& 2.234,716 2,234,716 2.4111.-)42 Tutdl expeiiditurL' 2,234,716 2.234,716 Nct expenditure hel'ore galns on investments Nct gains on invcsiments {1.8iq.7261 1?.209A26 (1.8fJS,7261 12,209.826 Net mi)vement in funds 10,354,100 11),354.100 8,IR2,735 Rec()nclllatton of funds.. TVUI funds bTL)ugh( forward NL.t movemvnt in funds 32.019.714 10.3i4.100 32.019,714 10.3J4,100 40,202,449 18,182,735) 'I'()illl funds carrSed f¢)rward 42 773 814 42 37.1 1114 32019714 The statÈment of financial act]￿lieS includes all p,iiins and losse% reLi*gnLsed in theyear. The note% on pages 10 to 17 form parl of these financial stattmenL%.

IGY FoundatiDn Balance Sheet For the year ended 31 March 2024 2024 2023 Note FAxed assets Inve8tments io 38.718.976 28,444,949 Non-current assets Progr£im]￿e related inve5tmenls 38.718.976 31,444,949 Liirrent as5et5 Programme relaled investments l)¢.btors Cash at bank and in hdnd li li 3.000.000 2.441 669.397 3.671,838 2,799 737,006 739.805 Lredirors.. amuunts fallingdue within une year NÉ't current d%SLbL 12 (17.000) 1165,n40) 3ffi.54.9311 574,765 Net assets 42.373.814 32,(119,7J 4 Charity tunds Ro5tricied funds UMrL'Stricted lunds 14 14 42.373.Hl I 32.OIY,714 'rotal fvnds 42.373 32.1) LI) 714 The flnartcliil sratemonts were approved and au¢hori5ed for issue by thc Trustee5 and si8ned un IhL'ir behall'by.. N l) Sleep [Chriir vf Trustees) Date.. VIL (9¢b IJL The notes on P£Ees 10 to 17 form patt ofthe5e finanoal st2￿ments.

IGY Troundation Note5 lu the Financial Statemvnl For tho year ended 31 March 2024 General informdtio ry'hc IC',I' PoaYdiLii)n 1% a r.harir2ble Incorporated OrE3ni53knon and regIS￿red In England and W2lcs. Its rcEI.stsred office and printipal place of busincss Is IA Burnsall StreeL Loneon. SW3 3SR. The financial 5tatemcnts are presented In Sterling11), which is the functsonal currency of the company. Mnnetiry amounts In rhese tinanci31 s￿rements a-. e rounded ro the n¢ar¢sL pound. Accounting policies 2.1 Ilasis of prL'paration of findnLlal slatements The financiAI %ratements have bLen pr(.'P4ired In accord3nct W1th the Charities SORP (FRS L021 Accauntlng ind Reporting by Chaniics.. state￿.ent of Rec()w.mer.deJ Pr.7LLiLL .')pplicJble to Charities pre?arln8 ihL'ir accodTr.rs'.n accordance ivitn rhe Fin.3nci.Il RL'port.'ng SL.IDdard'.)ppliLab.'c sn rh¢ UK Jn(J Republic ryf Ircland IFRS 1021 Ic',lecilve I lanuary 2019). Ihc financial RepLiriing SLandard appliL41hlL in the UK And Repub.Ic of Ir¢land IFRS 1021 and the Chariiicq Aci 2011. TP.e financial ststements have becn rroparcd to glvc a'tru¢ and fair'vlLw and havLh dcpjrted frLTrm Ihc Charitios (Accounts and Reports) Re8ulatlois 20011 onl>, w tfr.c oxtcni requirvd w provide '.1 'truL' lind Iiilr. vieiv.'I'his departure has Involved folloM'ln8 the Chari'iLiS SORP IFRS 1021 publlsh¢d in Oil()bL'r 2019 rt2-.hcr th2n the Account.'ng and ReporUng iy Chariucs.. StaLem¢&il Ll JILYornmendi.d PrdLIJLL L,ffLitsve Irom I plprll 2005 which has 4incc ieen withdrawn. l.I',.Y. Foundiiiilin mLL'ts' the delinltlon ol a public bentfit enii'.y under FRS 102. A¥SLis ana IiJbi15ties are init1111y recognisod at hislorical cosL ¢)r iransJction valut unle¥s trtherivi5e stated in'.h¢ relevani Lcountin8 poIIcy. 2,2 Iklni concern fter rniikin&) cnquiries, the tru>te¢s have 2 reasonable expectatlon that th¢ ¢harlty has adLqualL' fL%ources to coniinue In oper3tional existL￿nce and neei Its Iiabiliiie$ 35 they fall duL, fur the foreseeable fu%Lift. belng a perivd of 2t least 12 monLb.s Irum the dale the¥e Iinan¢ial siaiements were approved. A£corLlingly, they contlnue to adopt rhe goingi ivncern b3sis in preparing the financial sutrrnents. 2.3 Fund gCLuuntin8 lieTieril lunds.2rÉ unresrricted funds Mthlch are available lor usc 3t the disererson of the Trustees In Iiirtherince ot the general i)biL'cllves olthe chariw and ivhich havt noi been designjted lor-ther F Jrposes. Investrnent Income. gain$ and losses are allocated to the apprnpriate fund. Incorne All iiruine Is recvgnisL'd once the charity ha5 entilernenl to rhe incorr.e, it is probable that thc income will be rekneived and thL' amount of income receivable can be measured relia)l}'. Investment income from tho Foundation's listed investmentE is recognlsed when It Is earned. io

IGY l.oiindaiitsn Note5 to thL Finanlial Staitrmcni% (continued) F'or the }'ear ended 31 March 2024 2.5 ExpL'ndilure r.xpendiiure Is recognised on￿e there 15 a legal or construciivL¥ ublig2tion tD transfer e¥onomic benefit ro a Lhird party, It Is proèJble that 3 transfer of economic bLtJL'liiS ivill be required in settlernent and the amount ol the obliKHLI()n can be me3surL.d reliabl}. ￿￿pL,￿￿￿tllre on rdisinH funds includes all expenditure incurrod b}. rhe Charity to r31se fuids for its haritable purposes and includes ¢usis- of all lundraisJn8 •lCtiiryties events and non-charitJble Iradin8. All expenditure 15 Inclusive of Irrecoverable VA'I.. 2.6 1nte.rest re¢.eivable Iiilrrest on IL'.nds held on dep05il Is Included when rereivable and the 3rn0unt can bL' mL'asured rellably hy thè ChariLy' this is normally upon nottflcation of the Inreresi paid or payable by thL 1n%liwnon with wht)m the lullds are deposire(L 2.7 Foreign currencies MvnLIJry ￿5￿cts and liibllitse$ denom.'nated bn forelgn currencies are IrsiislalL,d into sterllng at riltès of exihange ruling 3r the reportlng dale. 'I'i.'Ins.?ctions In foreign curren￿)eS arc translated Inro sterling atthe ratc rullng on the date Df the F.xchang¢ gain5 and losses are reco%nised in thL' siaLementof finaThcidl ii cuvlttes. 2.11 Investmrnts Flxed.'I%lL'I InvL'stmenLs are a form of fir,anciAI In%irument av.d are rnSfiall}' recnErLlStd at their tran5ALti¢)n cost,1nd bubsequentl>' mL'35ured at lair value at the balance shL'I dale. unless the ipalue cannot be me)¥ur¢d reliai)ly In wliich case It 15 measured ar cosr less Impairment Investment galns and Ins%es, wIIL,'.hei' l'e￿1115ed or unre.I11sed, are wmbinL.d and presented a5'GalnsllLoss¢s) on Inve5tmentq' in the SULLinent of fli)ar)Ll￿lI aclivitres. 2.9 Cash ¢lt biijth lind In liand Lash at bcink 3r.d In hap,J Jn-ludes c3$h and short.term hlghly liquid Investments with a 5horl malurlty of Ihree muylhs ur less from the date of acquisillon or op¢ning of the deposltor 5imllar account. 2.10 LlabililiL'S Jnd provisions Li7bililies ir￿. rei()8nisLi w.ien there is an -bligauon ai thc b212nce sheetdatc as a result ol a past event, It 15 probAhle Ihxi a Ir3nsfL'f ff)f economic beneh"t wll be requircd in sertlemen(3nd the amouni ofth setiiemenl ian be estitnA￿d reliably. LiabilitlL'5 are rÈcogniscd at the amoJnl thatthe Charil). anticipates 11 will pay to Settle lie debt or the amount it h35 receivc(l as Adi'anc¢d payments lor the Eoods or services l¥ musi providL'.

IGY Foundatlon Notes to the Financial StaiemenLS (coniinued) or the year onded 31 March L024 2.11 binancial in5trumL'ntS '1'4e Lhd-. Iti. has L'LL'LLL'￿ 10 apply SecUon5 11 and 12 Df FRS 102 In respect of financial instruments. Financial aisets and financial Ilabiiiiies ar¢ r¢cognised when the charily be¢tsrnes Pdrly tu the contractu?I provjsions of the Ln5LrU￿lenL FinanLial liabililie% and equitv InstriirnenL% are cla5511ied according to the substance of thc contractual arrAr.gernen15 entLfL'd Into. An equ'.ry' iii%triJment is any contract Ihai evidences 8 residual intcrest In the assets ol the char'.ry alter dEdiicting all ol IL% liablliries. The charity's policie5 lor IL4 maii)r classes of finiincial a5set5 11 nd Ananaal Iiabllilles are ser OUL bLIow. Fln¢inLial dssets B.islL Ilnancial assets, Includir.g trade and oihe-. Llebtor5 an(5 cash and bank balances are initlAII)' recn¥nl.Ed at trJn%act'.on priLÈ, Ljnless the arrangement cur¢stituLe5 3 financ.'ng rransa¢:ioii. where the trHnsilLtlnn Is me.isured.1r the present value ol thie futLirc rL'CQiPLS discouniLxJ 3¢ 3 rnarket rALL' of Interesr lor a siirili?r dcbi In4triimcnr. Fin.Incing tr.Ins)ctions are those in which payineni Is dtltrrid boyond normal hJsincs8 terrn4 1)r is fin.Inced.It J raic of InteresL thal Is not a rnarkei rate. SuLh i¥%ets are subsequently rarrled at arnOr￿sed cosi uslng the effective interest rnLlhod, less any ir.Ip.iir.'menL rindnclal Ilabillties BJ511 linulli:',Il .i-.Iliilities, including trade and other creditor5, unless rhe arrangement constltute5 flii4ncing transaiLion. where ihe debt instrument is measured at the present value of tho lutLirc paj'rnents disiuunled al a In.Irket r2tL, of ir.teresi for a simllar debt In%irumeni. Financing transactyons Aro those In whiLh pJymenL is deferred beyond normAI business terrns or Is financed At 3 rare of intL're%t thar Is iior a mJrkgt rAte. D¥bt iii%Lruments are sub5equenily carried 3t 3rn0rUsed COSL using the effectyve InterL'St rate method. ImpairrnÉsnt olfinanciitil asst% Fin.'Inciii l assets rnea%ured 2l iÉ)sl and arr.ortised ctss: are a%sessed at the end of each re?nrtln6 perlod Ivr obiLLtrve eviden¢L? ()( Imp31rmenL If obiective &'ider.ce ()l.mp3irnent is found, an Impxirment IDs515 rÉci)gnlsed in Ihe Income and expendiiure 3ccounts. For Iinancial a%sel¥ measured dt Lost less impalrment. the impairmeni loss is measured as the ailference bctween the ciSScI's isrryink amount ar.d ihe bes¥ eS￿m￿le of the 3mounl the charity would recelve for the assL't il it iYer¥ Iu iv 5vld 3.. thL' reporting ddte.

IGY Foundation Notes to the Financi411 StAtetneDt% {iuntinued) 'or the yoar ended 31 March 2024 2.1 l Financial instrullRents (Lunilnu¥dl or Iin3Ycial.3fSL'Ls mL'.'I%L". ed -.t Jr, Thmsed cos- the imDaiirneni loss is w.ea£ur¢d as the differenkne between the aSSL,t's cirry'ing amountand tie preser.t valuc of e511maied c2sh flows discounted al the a54L't's origin21 ellective Interest rate. If the fin)nc1212sset has 3 variable intrrestrats, the discuuni rJtL) for rnLA%uring ny impc11rment loss 14 the currenr effective inicrcs: r3te de.-mined under the conlr.?iL If there.'s a decrea%L' In rhe ImpaSrmeni loss arising from (In evenloccurring aftor the impalrment ivas recoonised. the irnPfiirrnL'nt Is reversed. T￿.ty r¢vL'rs21 Is such that the current warrving amount dJeg noL exLLod ivhat the carryinE amounL would hilVL bL'L'n had iht Impgnised wP.en (aj tlie coniraiiknal rights to the cash fl?H's from thc asset expirL' ur are settled, or (b) substanrially all t.ie risks ar.d reM'3rd5 of the uwncrghip of rhe asset are transferred tu anorher rtirty or (¢1 despitc h3v.'ng retained st)mc significant risks ar.d reMard4 of ownLirshlp, control or th• hk% b••n trAn5forrod Eo 4norh9r p4rty who has th• pracucal abiliry ta unilat¥rthlly s•ll tho 2&%k'l ia an uiirel*ilL,d rhlrd PArty withfjut Imposin8 3ddiiponal restricn-or.-f. F5n3nLlal liabllitles are dere¢ognised when Lhe Iiablllly 15 extinguishe(I, thar is whcn the ciiniraclual oblig',ILion 15 dlschar8ed. Lancelled or expires. otl%vttlng (yl flndlnrial Jssets and finantial Ilabllltles Fiii.Iiic.a135set5 diid Ii.tbililles are cllsilt rf1nil the net ainouni reporred In the balance sheet whL'n thL're is an enlurceable righi Lu set off rhe recognised 3mount% and thcre Is an Inrenrion w settle on a nel b35is or tn rgd,Ise tlie asset 2nd setue the liabilily simu:tanenusly. 2.12 '1'axatlon Tlie IrriTrcnversble tax2rSon withheld at source represents the sum ut irrecoverahle wlthholdlng L?x dedurted at %Dur¢e on InvL'¥IrnLnt income receivable from LhL. F()undcltion's listL.d InvesrmenL%. 2.1-1 ProRrdmme relaied InVE￿mentS PrcTr%r8mme relateil Inve5trnents aTL' measured at co%L and assessed for Indications c)( Imp.?Irrnent at Ihe end uf each reporlinK perio>d. Invostment Income Unremrirted nds 2024 Totsl Unre%iricted tund5 nds 2024 2023 Total fund5 2023 Income from Iistc41 investmL'nts Interest receivfible -167.2?3 367223 11,76", 3 18.990 80,909 3,467 84.B7fi 80,909 3.467 378.9911 13

IGY Foundatlon Notes to the Flnantial Statements {coniinued) For the )'ear ended 31 March 2024 Aniilys15 ol'vxpenditure on charitable activities Unrestrlrted Total Unrestricted fvnds fund5 Z024 Tolal funds 2024 2023 Governance costs Grants and donations made 80.016 2,J i4,700 2,234,716 34,542 2,376,000 2,410.)42 2.134.700 2.234.716 2.376,000 2,410,J4? A￿lYsIS of Governance costs 2024 2023 Aud1¢ and aLcountsriLy fees 113nk eh3rges Investrnent man#ktement fees Irrecoveri1ble Lax.Ition wthheld ar 50urcc Other fees 17,560 4196 ().C>71 15.600 i48 12,136 80,016 14

l(:Y l.oundatinn Notes tu Ihe Financial Staiemnf% (co?Trtinued) For tho year ended 31 March 2024 Analysis of expenditUTe on charitable artivities 2024 2023 Carllsle Youth Zone INO. 11349741 l-.,'Irncys I".c)mmtsniry INO. 1150630) City Harvest l.P40. 11630.i5) Climbli8 Out INI). l 145023) (.'rt)ydon YoL4tn /A,'iie (No. 1173107) Ebony HorsL C..ub {No. 1116027) Envision (No. IofjJ328) Free to be (No. 11656781 Glass Dcor Ilomcloss Charitv INO. 10832031 Gu Beyurtd l No, IOB0fj531 H1rris I,L,JL'rJrion (No, 06228587) Inio Uni INU. 1118i251 Lisieningj Pl.'ILL, (Nts. 11647391 MyDtubul.Ir I'rJist (No. 11.47 l771 Onwards & Upwards (No. 1194457) pyri) (No. SL0033i.41 SHil."r (No. 119112-1 Sn<)￿-camp (No. IlOIO30) 2J,IlUO 50,000 20U.IIUO 200,or)o 100,uDo 50,000 Bl,000 50,000 i0.000 99,700 iO.000 loo,000 so,ooo 205,000 ioo.niiii loo,000 25,OUO 200,000 ioo.ooo 611,000 50.000 2'.>0,110 200,000 The Queert's Commvnwoalth Trust (No. 11721071 TP.e Reach FounLlaiicin INC). 1129fi1Jl1 Tl'.e Ti'ussell TrusL (No. I I IOJ221 300,000 J60,000 2.1Q,aOO 2. 37(),fl00 Graiits.iiid dviiations 113VL' bL'LJn made ro the above Inststutlons and indi¥fjduals In15ne wlth the F()unddlivn'5 prlncipal obleclives ro further their wok benefittlng children.youn8 people. those di53bililit5 ants uther chariL2b5e caus¢s. A.'I the ch.IritTe*.1re based And registered Jn F.ng13nd and Wales except one, which Is based and regls:erEd in Scotlii nd. Tru5tet5' remunerailon expenses DLirinx Lhe yvdr ended.41 fvlirch 2U24. n()"I'rus:ees received any remuneration or other benefits (2023. £NII; DurinLT the year ended-11 March 2024, no Trustee expenses have been incurred12023 INill. Employee5 There were no employees during Ihe curreDL or prioryear.

IC.Y Foundation Notes io the Trinancial Ststemonts [coTrtinlledl For the year ended 31 Marth 2024 Not gainson investments ZOZ4 2023 Revaluariun uf investments Pri)fit/llts%sl on dispos81 of investrnents ProFIt/llos51 on currer.ry revaluarjons 11,1162.267 348,139 li,i7B,5i91 1275.2881 12,722 li,1156.i691 12,?U¢J,826 io. ixed asset invements Llsted Invostnients Cost or valuation At l Ap."I12023 Additicn5 28,444,949 11.588.240] 11,862,2b7 38,71fl,l)76 RevaluatiDns At31 MarLh2024 Net bouk Valu Al.41 m.lroh 20'J4 At 31 MiJfLh 2023 38,71n,l)7(1 28,444,()4 ii. DelJti)rs 014 2023 L)ue dfter mor than ()nt year Pro&r3mme re131Ld iivesimen: 3,000.000 3,000,or)11 Due wlthln ono year ProEr,ImmL' rL'lJted invesrment Other dÈbtor% 3.000.000 2.441 3.002,441 2,19¢) 3 002.799 The other debtor5 balanw eonslsts of Interest recclvable. PrograTnme rÈlatÉd InvesU￿￿nL%. consJst2 repay2blL. loan kn Mental Ilealth Innovations which is non" intercst beirlng. INO 1175fD70). 12. Creditors: Amounts fdlling due ￿thill oneyear 2024 2023 AcLruals dL.fL'rred incotne Accrued grairs payable 17.OQO 150,000 ',ouo 16

IGY Foundation

Notes to the Financial Statements (continued) For the year ended 31 March 2024

13. Statement of funds

Current year

32,019,714 £ 2023 1 April Balance at Unrestricted funds General Funds - all funds Prior year 40,202,449 £ 2022 1 April Balance at Unrestricted funds General Funds - all funds Analysis of net assets between funds Fixed assets investments Non-current assets Current assets Creditors due within one year	378,990 £ Income 84,376 £ Income 42,373,814 (17,000) 3,671,838 - 38,718,976 2024 funds Unrestricted £	(2,234,716) £ Expenditure (2,410,542) £ Expenditure 42,373,814 (17,000) 3,671,838 - 38,718,976 2024 funds Total £	12,209,826 £ (losses) Gains/ (5,856,569) £ (losses) Gains/ 32,019,714 (165,040) 739,805 3,000,000 28,444,949 2023 funds Unrestricted £	£ 2024 31 March Balance at
				2,373,814 4
				£ 2023 31 March Balance at
				2,019,714 3
				(165,040) 739,805 3,000,000 28,444,949 Total funds 2023 £
				32,019,714

14. Analysis of net assets between funds

15. Financial commitments, guarantees and contingent liabilities

The Foundation aims to provide long term funding to the charities which it identifies as suitable grantees. Although no formal agreements have been reached, and the Foundation has no legally enforceable obligations in this respect, the Foundation has agreed to provide funding of £1,100,000 in aggregate, 1 year from the balance sheet date.

16. Related party transactions

During the year, the Foundation made donations totalling £nil (2023: £100,000) to Croydon Youth Zone, registered in England and Wales. One of the Foundation trustees was also a trustee of the Croydon Youth Zone until their retirement in October 2023.

During the year, the Foundation made donations totalling £205,000 (2023: £200,000) to the Harris Federation of South London Schools. One of the Foundation trustees was also a trustee of three Harris Academies until their resignation in October 2024.

Where a potential conflict is perceived to exist, conflicted trustees excuse themselves from voting.

17