Chariry number.. 1155564 IGY Foundatlon Trustees, Reportand Flnanclal Statements For the year ended 31 March 2025
IGY Foundation Contents Page ReferenLeand admin25trative detdlls tsf the Foundatlon, its Trustee% and advisors Trustees. report IndepcndL'nt dudltor's report on the financlal statements St2remeni orrinanoal activiti Balajjce sheet Notes to the financial statoments 10-17
IGY Foundadon ReftreTh¢e and administralion detsils ofthe Foundation. its Trustees and advlsors For iheyear ended 31 March 2025 Trusiees N D Sleep, Chdir M Byrne. Tru4ree A R Muntgomery, Trusree S C Sleep, TFusiee Charity number Il55564 Principal office IA Burnsall Street Londo SW3 3SR Independentaudltor Saffery LLP Mldland Huuse 2 Puole Road Bourneffiouth BH2 5QY Bankers C. Hoare & Co 32 Lownde5 Street Lundv SWIX 9HZ
IGY Foundation TnL$iee$' Report For the year ended 31 March 2025 TheTru%tees prosont thelr anRual repurt robtether wlth the audlted financHI srarements of rhe IGY Foundarioll for the yekrto 31 March 2025. The accounts have been prepared in actorddnco wlth the accounring policies setout in note 2 to rhe account5 and comply with the Fuundatton's drticles olassociaiion, the ChariteS ALt 2011 and'ALcuuntin% dlld Repurting by Chdrifies.. Statemenr ol Recominended Practice" appliiahle ti) charities preparing rhL'ir aciounts In accordaace th the Financial Reporting Standard appliL3ble in the UKand Republic of Ireland IFRS 1021. The IGY Foundarion makes donatinn.4 and 'ants to a limited number ot charltlL'S prlnclpally tor rhe benefit ol. young people.Thc IGY Foundatlon has rL'celved or LXPLxrs to reLeive tundinR from IGY Limited and Sleep, Zakaria and Company Limited. Funding from the wider publlc Is sought orexpected. The Foundarion does not U511ally re%pond to unsolicited requ¥ts lor donarions as the Trusteos prcfcr to do their own rc5carth assessingwhich wtendal tauses to support. Our siron% preference is Ihar donattons are, as much as is pract1, antsnymow¥. More Informarion abourthe IGY Foundation, our wider thoughts on philanthropy, as well as rhe lettprs uf the NoTnad lllve5ttnenr Partnership. can be lound atthe Foundation'.$ wehsite, www.igyt()undation.OT&uk Obffiertlves and aetlvitle$ Pollcle$ and oble¢V¥S The princip14 objeciives ofthe IGY Foundarion I'the Foundation'l areto advance any pUosethat is exclusively L*ariiableacrording to the law of England and Wale%. Currenrly. the Trustees ai'esupporting iharitable aftivities lor the beneftt ol'chlldren, yOLing people, and thi)se with disabiiiries. The Fuundatlun wlll oft'Ergrants and donatlons t() a vartety ofur[sarions and indivldu415 and advance otherchaTitable causes. The Trustees have pdld due regard tu guidance i55ued bythe Charity Commission in deciding whatactivitjes the Foundarion should undertake. 1n.%etrIn obiecttves and planning lor artivitlL'%, thL'Trii.stL'es havcgivon due con.sideratiTrn toReneral guidance published by the Charlty Comml551on rL.lating to public benefit, Includillg the guid2nce'Public benefit,. running a charlty IPB21'. b. Achievements and performance TheTruqree% pri)vidL'd puhlic beiiofit hy donatinga t()r41 af E4.962.63812024.. £2,154,700] tn J number of tharllles as dL'tsilod in thi5 FQPDrt. Cumularive donattons by rhL' FDund3tion are in extts.8 ofE32m. Invesrment perfuFm3nce durinx the year wa£ considered safistraitury 8ivon rnarkot caDditioiis. c. Investmentpolley and perfornnce The Foundatiun's investment policy E5 ro make long term investments Ina limited number ofsecuriiies from around the world that are considered to provide reasonable long-term prospetts cotnpared to their marker price. The Trusrees have assessed the major risks to which the Foundation 1% exposed, and are satislied thatsystems and processes al'e In placeto mltlgdte expu5ure kn such risk5.
IGY FouThdadon Trustee$, Report (continutd) For thtyear ended 31 March 2025 Flnancial review a. GoiThg concern Afrer makingappropriate enqulrles, rhe Trusrees have a reasonable expectation thatthe Foundation has adequatl. TesLTrufLYS rts iontinue in operational existenco for thc lorL'StL'able fururt. Forthis reason. they continue tv advpt rheKninK concoTn hasis in preparing thc financial sraremenis. Furtherdetails regarding theadoption of thc coniern basis can be found in the aLcountlng pullcles. b. Reservtrspollcy The Foundation's pulicy on reservcs is ro hold unrostrictcd funds at a Icvcl cquivaltnt to a mlnlmum of 12-18 month's planned expendlturt. Thffis level ofreserves has been maintained throuBhouttheyear. In add1ri0 rhe Trustees have chosen to hold si£nif2iant rpserves as If endowed fund% to invesr and prnvide lollg teym lunding for the Foundation. until.4uch time as thesefunds are requlred for capiral-intenslve projects. t. Flnanelal posltlon Atycar cnd. The Fiiundation has rotal assets of £44.571,43712024.. £42,390,814], made up uf£40,614,158 12024.. £38,718,9761 OffCd assct5 and £3,957,27912024.. £3,671.8381 ofcurrenr assers. Thi% is adequate to cvver tutdl IlabllffitlL'S tsf £1,013.58012024.. E17.0001 a total net a&£er position nf£43,557,85712024.. E42,373,8141. StruLure, governance.and rnanagennt Con$iitutlo IGY Fi)undtttl(irt Is a reW%tered iharlty. ttumhc'r 1155g64,Jnd }% k Chdfitsbl¢' Inwrporatcd Or%an15ation cvttstltuted by a con5tlturiun attd aitiLlvs uf a5socution adopted by the Foundation on 30 january 2014. b. Trustees The TrusiLes who strrved durlng the year and up tu the dateof signature ofthe accounts were: N D Sleep. Chair M M Byrne. Trustee A R Montbyamery, Trustee S C Sleep. Trustee t. Method5 ofappointmenlor election ofTruses ThL.Trustees may Jppoint any i)ersi)n ro be t)nL' ofthelr numbL*. Thc. Trustees roview the knowlodxe and experience ot theTTusieeg and idenrity trainin8 needs un appointtncnt. Suitable trainingwill be provided if roqulTed. Disclosure of Information to auditor Each ol'the persDns whoare Trustees ar the time when this Trustees, report approved ha5 confirmed that.. So far as that Trustee Is awarv, there nu relevant audlt Informatlon of whlch rhe Foundatlon's auditvr is unawdre, and That Trusree has taken all rhe sreps rhar ought to have been taken as 3 Trustee in order to be aware of any relevant audit Infortnation and to establish that the Foundation's audltor Is aware ofthat inforJ)ation.
IGY Foundation TN$¢ee$' Reporr (continued) For theyear ended 31 March 2025 The Trustees are Fespnnsihlo fi)rprLbP2rtn8thL.Trusrees' rew)rtand rhefinancial sraremenrs In accordanctwjth appliiJble Idw and Unired Klngdom AccountlnR Standar(Lq Iunired Kingdom Generally Aicepted Accounrin Praitlcel. The Idw applicable to chariries in England & Walos Toquiros tho TrustLTrc% to preparc financial ststcmonts for eath flnaniial yeJJ'which Kive a true and f.lir viow of thL' statL' ufaffalr5 vf thL' Fuun(lativn and Df it5 Inivmlng rv5()urces and applicatinn re%nurce.%, including its incomo and oxpenditurc, lor that pcriod, in preparingthese ftnanclal st2tements, theTrusrees are required ro.. select suirable accounting policies and th¢n apply thom consistcntly.. observe the meihods and principles ol-the Chariries SORP IFRS 1021., make judKTnent% 3nd accountinge4timates thatare rea5()nable and prudent., state wherher applicable UK Accoun[1n Standards IFRS 1021 have been followed. subiectto any tnaterial departtirL'S dlsi105cd and cxplained in thL' financial srattmL*rs', prepare the financial stratemenrs on theRoingconcern basis unless Ir ts Inappropriate to presume that thc Foundation will continue in busines5. The TrLlStee5 are responsible forkeepinK adequateaccountin% records thai aresufficient to show and explain the Foundaiion's wan.¥aaion.4and disclose wirh reasonable dccuracy at aiiyrime the linancial posltiun of rhe Foundariun and enable them to ensure th3t thc linancial 5tatemonts comply with the Chai'ities Acr 2011. rhe Charity IALLounts and Roportsl RoKLilations 2008 and the provisions ofthe Trust deed. Theyarealsts rcsponslble for Sdfeguaixlin¥i rhe assets vfthe Foundation and henLe for takinE reasonable steps forthe preventlon and deteerion of traud and other irreglllaritie4. Approved hy order ttl.the metnbprs ufthe board ofTrustees Jnd slgDed <)n Its behAlfby'. N D Sleep Ichdir ()fTrusteesl Date.. Jtsc,
IGY Foundation IndependentAuditor's Report to the Members of IGY Foundation For the ytarended 31 March 2025 Opinion We have audited the financial sratements nf IGY Foundation for the yearended 31 March 2025 which comprise rhesrdrement nf financial activities, rhc balanie sheer. and nore% to the linancial statementE, includipg SIgnrICant ?ccountinE pnlicics. The finaniial r?rrIn frainework tbat has heon 3ppliod in thelr prLyaratlun Is dpplliable law 3nd Urtited Klngdom Acc0unriii Srandardq. inLILidinx Fin3ncial Ri'puriirthT Sidnddrd 102. the Financial RL'purtlng Standard appl&cable in the UK diid Rgpublii vf Ireland Iujiited Kiiigdom Generally Accopted Accvunting Pracricel. In our opinion the financial tatementS.. give a rrueand t3ir view nf the 4t3te ofthe Foundatlon's aftair% a% at 31 March 2025 3Dd of it incoming re.4ource% and application of resources for rhe year then ended,. have been prepared in accnrdance Wth tho rcquiremL'nts ol'the Chariries Art 2011.. and hdve been properly preijared in accurdance with United Kingdvm GL'lli'rally Accepted Accounring PTactice. Basls for opinion We conducted our3udit in accordancc with InterRafiuttal Standard5 Jn Audiiing lu (Isks IUKII applicahle law. Our responsibilities ullderthotse standards are tiirther de%cribed in the Auditoi % re.qponsihilities lor the audit ofthe ftnanciul %tatEtnont5 5CCtiun ofour FL'PVrt. We are IndL'PL'ndent ofthc Foundarion in accordance with rhe erhical requirements that are Felevallt to our audit of the fin3ncial statotDeThts thL' UK inLlttdinx the FRC'S Ethiial Standard. and we have fulfilled our orher ethical req1ioiisihilttO% in acLordancL' Wlth thcse roquiretnents. We bclleve that the audir evidence we have vbtdined is sulTicient and approprle to provide a bas tor our opiniun. Conclusions reladng to golng concern In audiring the financial starcmenrs. we have lncluded that thoTrustQC5' ofthc going c(>ncern basis of accounting In the prepararion ofthe ftndncial stratements i4 appropriate. Bdsed on the wurk we have perfurmed, we have not identified any materlal uncertdlnries relatlnK t() events or condition£ thJt, IndividuallyorcollecrivL'ly, may tast signiticantdoubton the Foundation's abiliry to contlnueas a %oing concern lura PL'riud ol'at leasttwelve months from whcn rht financial statonionts are authorised for issue. Our responsiblliries and the rcsponsibilities nfthe TJu%rees wirh respett tugultsgcunLern aredescribed in the relevantsecbon5 of this Teport. Other information The orher informarion tompriscs thc inforinatinn included in rhe anniial report. uther than the fipanclal stratement5 and our auditor's repoit thereon. The Trustees are rtsponslblo lorthe othor information. Our opiniun on the financi31 statements does noi ioverthe uther InfortiOn and, exceiit to the exrenr uthL'rwlse explicitly stated in our report. we do not LXPTe55 any form of a4%urance ronclu%ion rhereon. Our responsibility is to read rht other inforn)ation and, doingso. consiiler whether the othei. inforniation is mateTi311y inconsistent with the financial staremtttts or our knowledge nbtsined In rhecourse of the audit or otherwise appeirs ro be materlally tThisst3ted. 11 we identtfysuch material incortslstL'nile5 orapparent m3tei.ial misstaremenrs. we are required to detei'mine whethei. rhi.£ gives ri%e ri) a material tlliSSt3tement in the financial stdtemiints thetn5elves.11, b&4ed on the work we havt ptrt()rmcd, wo conclude thatthere is a marerial mis%taremenr of th15 Other lJJforNtiun", weare required reportthar facL We have nothlng to report In thLs reKard.
IGY Foundalion IndtpendeniAudltor's Rtportto the Mtmbers of IGY Foundation (continued) Fortheyear ended 31 March 2025 Matters on which we are required to report byexception We have noihing ro reporr In respect ofthe lollowing matter£ in relatioii to which rhe Charities (Accounts and Reports) Regulations 2008 requirc u5 to repnrttoyou it, in our opinion.. the information g)ven in the Ti'ustee4' Aniiual Reporti8 inconsistent in any material respecr with the tinancial statL'ments', or the Foundation has not kept suft'icicntaccounting recvrils,. or rhe financial £tareinenr.4 are iior iii agreemeutwith the accnunt2ng records and returns,. or we have not recoived all tho inlormatiDn and exp13nati()ns we requiTe for ouraudit. Responslbllitles ofTrUSe5 As explainvd more fiilly in the Trustee5' Responsibilitie5 Statementset outon page 4, the Trustees are re%pon4ible for the preparatioll af the financial ¥taternent% and tar heing.%atisfied thatthey give a rrue and fair view, and forsuch llteTnal control as the Tru4tee5 detorniino 15 necossary to enable the prepararion of financtal staternent5 that are free fTOm njaterial misstatement, whether dueto fraud or error. In preparing the fLnancial 5tstementS. the TTUStecs are responsible for assessing the Foundation's abllity to continuE35 a going CDnLeTn, disc105in& as dpplicable, matter5 related to going concern and usinB the Kaing oncern basis ol-accounting unless rheTrusrees eitherintend ro liquidate the Foundallon or to cease operattons, or have llo Teallsticalternattve bur ro do so. Auditor$' respon5ibillties lorthe audit of the financlal SEatemÈnt$ Wc havL' bccn Jppointod a.% auditors under rhe Charirie% Art 2011 and report in aCcord3ll Wlth regulations tnade under that Art. Our objccttvcs are to obtain reasonabl¢ assuncC about whcthcrthe litJanci41 %tatement5 asa wholcare freo from material fflis5tatement,wherher due 10 frdud vr L'rrur, and to issuean audirors. report that inLludes our oplnlvn. Rca50nable a.ssurance 1% a high level of assurance, but 1.5 D()td guaraiitve Ihdl dn dudit ii)nducted in accordance with ISAS IUKI will always detect a material missiatemL'llt whon it exist.4. Mi%srarementS Ldn arise froni fraud ()rerrur arc c(>nsidered maierlal11-. 1nd1v1d1lY ur in the ag%reRate. rhey could rea5ollably be tperted to Inllucnce the economic decisions nfruser5 taken gn rhe basls uf thL'SL. financial srarements. ITregulariries. lttcluditw fraud. are instrance5 uf non-compliancewlth laws and regulations. WedeSt procodures in line wlth our respoiisibilithe.s, ourlincd ahove, to detect Inaierldl mlsstatemi'nts. iii respect oflrrebyuldritle5, IniludlnE fraud. The specific proLI'duro5 ti)rthis engagementand thc eKtenr to whiih these arecapable ol detechng iriEgulariries, includiiig fraud aredL*allL'd below. Idenrifying and 35sessiDR risks related tu Irregularitie5'. We a55essed the susceptiblllty vf the Foundarion's ftnancldl 5taternLJnts to material misstdtorneDtand how fraud might nrciir. Incluiling through di%cu%sions with the Ti'usteLJ5. discu.%sions wlthln uurdudit team plannln meeDng. updaiiiibT uui record of tl1.111 lAtrol5 and ensiiring rhe%e ioiiiruls upe17ted as inreiided. We evaluated pvssible Incentlves and upportunities foi. traudulent tnallipulatEon of the financlal 4tateinents. We identified laws and regulations tharare ofsibynlllcthnce in the context nf the Fuunddtiun by discu£sions wirh Trustees and updatlng our understanding ofthe sector in which rhe Foundation oper3tes. IAWS regularions ot dirertsignificance in rhe contextol'the Foiindation include the Charities Act 2011, the Chanttes (Accounts and Reportsl Regulatiorjs 2008 and guidance i.ued by rh¥ Charity Commisgioii for Englattd and Wales.
IGY Foundation IndependentAudÈtor'$ Reportto the Members tsfIGY Foundatlon (continued) Forthe year ended 31 March 2025 Audir regpon%e to risks identifled.. We L(In5Idered rhe exteDt ot rotnpliattce with these law.s3nd rulatiOn$d5 part ofour audit procedure5 OtL the related financial statemenr irems Jncludin8 a rcvlLW vf financial statementdisclu5ures. We reviewed rhe Foundation's record5 uf breache% of12ws and re8ulatiuns. minure% nf Ineetings and currespundencewirh relev4nt3Uthoriti1s tu identlty porential tll3teridl missraremenig arisinE. Wo discussed the Foundarion's policies and procedures for coMpln£0 with laws and rtgulationswith mEmbLbrs of management responsible r()r complianco. During the planning meeting the audlt ream. the engagement partner drew attention to the key aroas whlch might involvenon-cumpllance with laws and regulativtts ur fraud. We eDqu)red of man3gctncnt whether rhey were aware of any instdnces ufnoii-complianre with laws 3Rd regulariiin5 ()r knnwledge ofany aCal, suspected or alle¥ed traud. We addressed the rifk uf fraud throu%h management override uf controls by resringthe apprupriatentss of IDurnal entrie% and identifyry'ng any slgnificani rransactions that WL'fL' Unusual or ourside rhe normal course of business. We a55Csscd wheiherjudkTements made in makingdccuunfing e%timaie% gave Yise to a possible indlc'dtion ofmanageinent bias. Atthe completi(In srage of rhe audit. rhe engagement partncrf5 review included ensuring thattheteam had approached Iheir work with approprlate professlonal scepticism and rhus the capatlty to Identtfy non-compliancewith13W5 and regulations and fraud. There are inherent limitrafivns In rhe audit procedures dexrihed ahnve and the further retnoved non-compliance wirh laws and regulations is fvotn the cvcnf5 and rransactions reflected in rhe financial srarements. the less likely we would become aware oFit. Also, the risk ofnot dL'toLtingt a terIAl mlsstdtL'mL'nt duL% ro fraud is hlgherthan the riskof nutdctcctlng UnL' resultino Itum L'rrDr, A5 frdiid may Involve deliberate concealmenrby. for example, forg¢ry or intentional mi5rcprcscnt3tions, or through collusion. A further descriprion ofour respunsibilitlts Is dvailablL' on thc FlnanLial Reporting Council'swebsite at.. www.frc.org.uk/auLlitorsresponsibiliiies. This dehcrlptiun forms part uf uur dudltur's rL'pDrL Use ofour report Thi.% report t% made solely to the Foundation's Trustees, as a bndy, in accordance with Part 4 of rhe Charities (Aicounrs and Repvrtsl Rcgulariuns 2008. Our audit Work has been underrakL'n su that we n]ight 5tato to the TrLI.Stees those matters we are re4uirvd tu stdtL' tv thL'ni in an auditor's report and for no Jrher purpuSL'. Tu thÈ tulle4t cxrenr permitted by law. we do not accopt nra%suine re%pi)n%ibiliry tv any()ne vther than the Fi)undarion and the Trustees as a body, forouraudit work forthis rewrL tsr forthe opinions we have formed. S• LLP Saffery LLP Midland House 2 Poole Road Bournemtrurh Starutury Auditors BH2 5QY Date-. 8 December 2025 Saffery Is eligibloto artas an auditor in terms ofsectton 1212 of the Companie5 Art 2006
IGY Foundadon Balance Sheet For theyearended 31 March 20Z5 2025 20Z4 Noie Fixed assets Invc5tmcnts io 40,614,158 38,718,976 Currentassets Progrdmme related investments Debtor5 Cash3tbank and in hand 3,000.000 538 956,741 3.957.279 3,000,000 2.441 669.397 3.671,838 Ji Creditors." 3EllouTrts falllngduewithin one year Net Curta$Sets 12 11.013.580) 117,0001 2,943.699 3.654,838 NetassÈts 43.557.857 42 373 814 Charity funds Restricted funds UnTEStrirted fund5 14 14 43,55757 42.373,814 Total funds 43.557.857 42.373.814 The finaniial statements were appruved and 3uthorlsed for Issue bytheTrustees and Signed on their behalf by.. N D Sleep (Chair tsfYrustee51 Date: tst4 The rtotcs on p3ges 10 to 17 forni part of these finattcial ststemen
IGY Foundation Statemen¢of Financial Artivides For the yearended 31 March 2025 Unrestricted runds 2025 Total tund5 Total funds 2024 2025 P4ote Income from.. Investment5 106,025 106,025 378.990 Total incothe 106.025 106,025 378.990 Expenditureon: Charirable actsvt[eS 4,992.764 4,992.764 2,234,716 Total expendiiure 4.992,764 4,992.764 2,234,716 Net expendtture beforegalnson inveslments Netgains un investm¢nL 14.886,7391 6,070,782 14086,7391 6.070.782 11.855.726) 12,209,826 Nei movement in funds 1,184,043 1,184.043 10,354,100 Re¢ot)ciliarlon of fund5'. Tutal funds broughr forward Ner movement in funds 42,373,814 1,184.043 42,373,814 1,184,043 32,019,714 10,354.100 Total funds orrled forward 43.557.857 43,557,857 4Z,373,814 Thestatement of financial acnviries includesall gains and losses recognised in the year. The notes on page5 10 to 17 fom part of these financial statements.
IGY Foundation Notes to tht Financial Ststements For theyear ended 31 March 2025 General information ThL' IGY Fuundarion is a Chartable Incoryorated Organisatian and Tegi%tered in England and w31e5.lts registered ffi and prlnilp21 placeof business 14 IA BurnEall Stret, knndon, SW3 3SR. Thefinancial ststements are presented in Sterling (£1, which is the functional curwncy of rhe company. Monetsry amounts in rhese financial statement5 aro rounded to rhe nearest pound. Aceountlng policies 2.1 Basis of preparatlon offinancial slatements ThL' financl21 staremenL4 have been prepJrL,d aLcurdanLe wirh rhe Chariii SORP IFRS 1021 AL'counring4nd Rep()rting by ChdTltle5.' Sldtement of Recommended Prathce applicable to charities pi'eparin8 their accoiinL% In accnrdgnce with thc Financial Ri'portlng srandard applicable in rhe UK and Republic of Ireland IFRS 1021 leffective I lanuary 20191, the Flndnclal Reportlng Srandard applicable in thc UKand Republic of Ireland IFRS 1021 and the Charitie5 Act 2011. The sraremenrs have been prepared to Eive 3'true and fair, view and have departed from rhe ChaTitie5 IAccount5 and Reportsl Regulations 2008 only ro thc extent requirod to provido a'tTUt ajjd frdlr, vlew. This departure ha.% involvcd followiiig the Charitie5 SORP IFRS 1021 publlshLd In Ortober 2019 rathi'rthan thvALLounting Reporting by Chai'ities.. Staiemenr of Recommended Pracrice eftective froin l April 2005 which ha5 Slllct. been withdrawn. IGY Foiindatioii meets the definitjon ofa public benefir enriry under FRS 102. Assets and liabiliries are Initially rccognlsed at historical c05t ur tranrt1Dll valuc unlcss otherwise stated in thc rolevant accountinB policy. 2.2 GoinEconcern After making enquiries. rhe TriisteL'S hcive a r¥d%tsnable expL'rtati(>n that tho Foundation has adequare resources to conrinue in OPL'rdti(>nal oxistenco and meet its liabiliries as rhry fall due for tht f(JTeeoable hJtLIT¥, beinE a period nfat least 12 mvnrhs frum the ddte these linancial statements were approved. Accordingly. they iijniinue to adopt the going concern basis in pieparingthe f&nattiidl statements. Z.3 Fund accountlng General funds are unrestrlcred fuxds which Trre available for use atthedcrttIOTh of theTrus¢ees in turthorance ol the neral obiertives ofthe Fvundation and which have n(>r been deslgnated fur other purpose5. Investmenr It)come.g2ln5 losse5 are allocated 10 the appropriate fund. 2.4 Incorne All income is recognised once the Foundation ha5 entitlement to the income. ir is probable that the income will be reielveij anij rhe dmvunt of income receivable can be measured relldbly. Investment inco]ne from rhe Foundatlon's lisred Inve.%tttiEntb 15 recugni5ed when it is earned. io
EGY Foundation Notes to the Financial Statements Iconlinued) For the yearended 31 March ZOZS 2.5 Expenditure Expi'ndiiiire is recognised once there Is a legal or con5tructivc vbligatEon to transfeT ecnnntnic bcncftt ro a third party, ir Js probable that a tr3ll5fer of economic benefits will bc requlred in settlement and the amount olthe obllgation ran be measured Teliably. Expenditure rdlslng funds Incliides all cxpendi¢ure Incurrod by thc Foundation to ral%c funds for its charftable purpn%es and Includes iosrs olall fuDdraising artivltffies events and non-charitdblL' tradlng. All expenditure is inclusive of irrecDverableVAT. 2.6 Interest receivable Inrerest on fund5 hvld on deposlt Is included when rocoivable the amount can be measured reliably by the Foundation.. this 1£ noi'm311y upon notification ofrhe interest paid or p3yabltby the insritut20n wth whom thefunds are deposited. 2.7 Foreign currencies Monetary a%sets and liabilitie5 denominated In forelgn currencies are translated into sterling at rates or exchange ruling attho reporting date. TYan&ittions in foreign currencie% aretranslated into sterliTrgat the rato ruling on the date ofthe transactioti. Exchange gains and losses are retognised in tht srltement offinantial activities. 2.8 Investments Fixed asset investments aFe a furm of finan¢i:Il instrumenr and are inirffially recokTntsL'd ar thL'ir trattl0 c()st and subsequenrly mea%iired ar fair Vdliie dt the bdlanLe sheet ddtc, unle55 the value Lanuot be measured rtliably in which trase It Is moa5urcd at cost loss itnpainnent Investment gains and losses. whether reallsed or unrL'allsLyI. are Lombinod and presented as'GainsllLossesl on Invesrment5' in tho statement of financial acrivlties. 2.9 Qsh at bank and in hand Cash at bank and in hand includes cashand short-rerm hlghly Ilquid investments with a shortmaNdty of thrcc months or less from the date ofac4UlSltivn Dropcning ofthe deposit or %imil8raccouTrr. 2.10 Liabllltlesand provis10115 Llabilitie5 are recugniscd when rhei'e is an nhligarion ai thL' balanie shoL't as a re%ulr ora past evenr, It is prohaNe rhat J transferof economltbencfit will bi. required 2n sotrlemenr. and rhe amount utthe settlemettr can bt tiMated reliably. abilitiesare recognised at the amnunt thatthe FoundatioTr anticipates ir will pay to settle the debt or the amount Ir has recelved as advanced payments for the goodsorservicts It must prov2de. li
IGY FoundatboD Notes io the Financial Statsments (continued) For theyear ended 31 March 2025 2.11 Finanaal instruments The FuunLlarion ha% eloctcd to applySection% 11 and 12 uf FRS 102 in re4pectoffinanclal SnstrunTrents. Financial asset5 and financial liabilitie5 are reiognised when the Foundafion becomes party to the Lolltractual provisions uf the InstrumenL Financlal liabilities and eqiilty Instruments are classlfied accordin% tothe Substance ofthe cnntractual ari'anRenient5 cntered inro. An equ2ty in5trumenr is any cantrart that evldences a residual intorest In rhe assets of rhe Foundation after deducDng all of its Ilabjllties. The Foundation's pulS¢les forits major da55e5 offinancial assets and financial liabilities areset out bolow. Financial a55ets Basic financial assets, iniluding rrade and Trrher dobtot5 and cash and bankbalance5 are Inltlally Tocognised at transacrion prico, unless the arran%ement constitLltes a financlng rran£action, where the transaction is measured at the present value af the future receipts discounted ata Jnarket rare ol interest fora similar debt instnJmLnt. Financing rraJsactlUnS are those in which payment is deferred beyond normal husiness terms oris financed at a rate ot inttrrt%t rhar is nota market rate. Such assets are 5ubsequentlycarried ar amorti%ed costusing tho otlective interest method, less any impairmenL Financial liabklitie5 Basli finanildl Iiabllirie<. Includlng rrade and orhercrediror%. unle4£ the arranEemenr Constire£ a fin3ncing tran5artiun, whvrE the di'bt instl-lltnent 1% mL'asurvd dt the prL'5ent valuv ()f rhE future payments discounted at3 illaTkot Tate of interost for a simildr dobr instrumont. Financinmi transactions are those in whiih paytn¥nt 1% (IL.fer¥ed hey()nd ni)Tmal bu%ine45 tertn.T (>r 1% linancL.d ata rate ()f intere%t that is a maFkct rdfe. Debt Ill5trutnents are Subsequently carried at amortised cost. using the effecrive interesr rate method. Impairmtaxi of financial a55ets Financial assets InL3SUTcd ar Losrand amorttsed cost are absessed at rhe end ofedih reporting period lor objcctive cvidoncc of impairmcnt. Ifnhiecrive ewdence of impairmenr is found, Impairrnentloss i IEcognised in the income and expL4ndlture aiL()uiitS. Fur findncial asset5 measured dtLusr less imi)airn)ent. Ihe impairment loss ts medsufL'd as thL' dffL.T0llL beNeen the asset's carrying amount and the best tImate ofthe amount the Foundation would receive ror rhe asset Irit wtrLi to bc 5uld 3t the roporting date. 12
IGY Foundatlon Note5to the Financiaistaiements Icontinued) Forthe year ended 31 March 202S 2.11 Finahdal instruments (tontinued) F()r tinancial asSL'ts measured ataTnorh5ed cosL the impairment Ioss LS measured as the dlfference betweon the asset's carryinE amounrand the present value olestimated c35h fluws disci)unted at the asset's original effeLllve Interest rate. Il'the lirtancial as%et has a variable interest rate, tht dlscount rate for measuringany impairment Inss is the currenr effecbve Intere rate detertnined underrhe contrart If there Is a decrwdse ID the itllpAirmenr104s arising from an eventnCCLJrring after the impalrmtnt was rerognised, the impairment is revorscd. The reversal is such Ihat rhe current cairylng amounr does not exceed what tho cdrrylng amount would have been had rhe iTnpairmettr not previou4ly been recognised. The Impalrment reveT5al 15 recogni%ed in the statement of financial activitlts. Dererognldon of flnancial a$5ets and flnancial liabilities Flnancial assers arE dL'recvgnised when lal the ci)ntractual Tights to the cash flows fmm the asset expire ur artr serrled. or Ihl sub5tanrially all rhe risks and WardS ofrheowneTshlp ufthe asset are rrnnsferred to another party or Icl dcsplte havin% rerained sume sibjnlficant risks and riwards ufvivner%hip, cantrol ol the asset has boen transferred ro another party whfr has the praciical ability to unIlateIlY the asset to 3n unrelated rhird paTty wirhour imposingadditional restrictions. Flnancial liabilitie5 are dereiowiised when the liablllty Is exringuished, that is when rhe contrartual obli8atlDn is discharged, cancellcd or cxpjres. Offsettingo(ftttaThclal assets and financial liabilities Financial assets ancl liabiliries areoffset aiid the net amount reported in the balance Sheet when there is an enlorceable right to set off thL' tOgniSed amounts and there i4 an Intentiot) to settle on a net basis or to rcali5e theasset and settlethe liability simultatkcously. 2.12 Taxation Th¥ irreivverable raxation withheld at source repTe5ents the Sum Df irTecoverable wlthhDldin8 tax doduLtI'd at 5uurct on Invesrment Income receivable from the Foundation's listed invostments. Z.13 Programme related investments Priigi'amiiie I'cldted investlllLllt% arL' measui'ed at cost and assessed for indications ol'impairment at the end olwach reportingpertod. Investment income UnrestrÉcted funds 2025 Total Unrestricted funds funds 2024 Total funds 2024 2025 Income fv)m listed iThve5tsnents ntL'rest recdvable 78,377 27.648 106,025 78,377 27.648 106,025 367,223 11.767 378,990 367,223 11,767 378,990 13
IGY Foundalion 14otes to the Financial statements {continued) For the yearended 31 March 2025 Analysis 0fexpend1re on charfuble activities Vnrestrlcted funds 202S Total Unrestricted funds funds 2024 Total fuThd$ 2024 2025 Governance c05tS Grants and donarioiis made 30.126 4,962,638 4,992,764 30,126 4,962.639 4.992.764 80.016 2,154.700 2,234.716 80.016 2.154,700 2,234,716 Analy¥i50f Governance costs 2025 2024 Audit and accountancy fees Baiik charges nvestmenr management fees Irreuoverahletaxation withheld ar sour Other fees 9,390 617 8,361 11,758 17,560 496 6,671 55,089 200 30,126 80.016 14
IGY Foundadon Noies to the Financial Staiements (continued) For theyear Ènded 31 March 2025 Anatysisof expendithre on charitable artlvltles 2025 2024 ArThe BUE (No. 11812941 Carli51e Yourh Zome INO. Il349741 Carney'% Comrnunity (No. 11506501 City HarvL'St (No. 11630551 Cllmblng Our (No. 11450231 Cutnbrla Famlly Suppurt Ltd INV. 1085861) Cure EB (Nu. 11586721 Ebony Hur5e Club INO. 1116027} Envision (Nu. 10953281 Free to be Kjds (No. 11656781 Glass Duor Homeles% Charity (Nu. 10832031 Go Beyond INO, 10S09531 Goodwood ArtFoundation CIC INO. 142110371 Harris Feder4rion INO. 062285871 Inro Uni (No. 11185251 tastening Place (No. 11647391 MyntubularTrust (No. 11371771 Onwards & Upwards (No. 11944571 PYCP (No. SC0033531 SHiFf (No. 11911251 Snow-camp (No. 11010301 srtsp.Brearhe.Thlnk (No. 12060681 Swit¢hl80 INO. 11010301 The Reach Foundation (No. 11296831 RedLh Schuuls (No. 076341061 TheTYu£sell Trust (No. 11105221 30,000 35,000 50,000 460,138 50.000 50.000 1,000,000 50,000 loo,000 50.000 150,000 50.000 300.000 240,000 150,000 Iso.000 25,000 322.500 25,000 50,000 200,000 so,000 50,000 99.700 50,000 loo.000 50,000 205.000 loo.000 loo,000 25.000 150,000 50,000 250,000 250.000 200,000 loo.000 200,000 300,000 600,OOQ 300,000 250.000 4.902.638 250,000 2.304.700 Grants and donations have bcen made to thc above InsriNtions and indIdual5 In line with rhe FuuRdatiun's prlniipal ubji'itlves tu furthcr thL'srwurkbcnL'fittlng children, young pcuplc, those with di&ibilities and nther ch3ritsble causes. All the charities are based and registered in England and W31os exceptone, which 15 based and reEisteTed in Scotland. Trus¢¢es' remun¢ratioDand expenses Durlngthe year ended 31 March 2025, no Trusrees receSved any Temuneration orotherbenefits12024- DuTingtheyeaT ended 31 March 2025, no Trusteeexpenses have been incurred12024- £Nill. Employees Therewere no employees during the current or prioryear. 15
IGY Foundation Notesto the Finats¢lal Staiements Icontinutd) Fortheyear ended 31 M3rch 2025 P4et8ains on investiiiÈiits Z025 2024 Revaluation of inve5tmo#ts Profit/llossl ott disposal of investments Profit/llo4sl op currcncy revaluations 5.770,354 298,963 1.465 6 070.782 11.862.267 348,139 15801 12,209,826 io. Fixèd assÈi Inve$tments Listed investments Cost otvaluarlon At l April 2024 Additions Dispo5a15 Revaluatiuns At 31 March 2025 38,718,976 13,875,172) 5.770,354 40.614,158 book valu¢ At 31 Mdrch 2025 Af 31 March 2024 40,614,158 38,718,976 The cost of rhe listed investments onacqultlon was £6369,35012024.. £7,702,005). Debtors 2025 2024 Due within ontyeat Progr3mme relatod investznent Other debtors 3,000,000 538 3.000.538 3,000,000 2.441 3.002.441 Thcothor dobrors ba13Trce consists oflnterost ¥ec¢ivable. Prugramine relared investments conslst of d repayable ri) Mental Health lttnov3tions which 14 non- inrerest bearing. IN(>. 11756701. 12. Creditor&' Arnounts fallingdue within oneyear 2025 2024 Accruals deferred Incume AL'crued grants payable 13.580 1,000.000 1,013,580 17.000 17,000 16
IGY Foundation Notes lo the Financial Statements (contlnued} For theyear endd 31 Marrh 202S 13. StsteEnent olfuDd5 Current year Balance at l Aprtl 2024 Balance at 31 March 2025 Gains (losses) Income Expenditure Unresirirted funds Genvral Funds - all fijnds 42,373,814 106.025 14,992.7641 6,070,782 43.557,857 Prioryear Balance al l April 2023 Balaxcoat 31 March 2024 Gainsl (losses] Incorne Expenditure UnresErlrted funds General Funds- all Thd5 32,019,714 378,990 12,234,7l61 12,209,826 42.373.814 14. ADaly3is of ntt assets between fiEnds Unrestricted funds 2025 Total Unrestricted futtds fund$ 2025 2024 Totsl fund5 2024 Flxed assers investments. Current assets Credltors due wlthln one yeaT 40,614,158 40.614,158 3.957,279 3,957,279 11,013,580) 11.013,5801 43.557.857 43,557,857 38.718,976 3.671,838 117.0001 42,373.814 38.718,976 3,671.838 117.0001 42,373,814 15. Financial commltmeThts, guarantees and rontingeTht liabilltles The Foundarinn ha% agrood tsi provide funding of £6.992.500 in aggregate ono ycarfrom the balance sheet dare tDchar1ts whkih identitie5 as 5uiiable %raiitees.Of this am(>unt, £1,000,000 has been Lximmitted and rhere isJn enlorLeablE ubligdtiun in plaie.The remaining balantr repTe8lts intcndcd future supporr. forwhjch there are no binding agreornonts in place. 16. Related party transartions Durlngthe year. the Foundarion madc donatsons totalling £240,00012024.. £205,000) to the Harris Federdtlun uf Svurh London Schools. One of the Foundation Trustees was alsu dTrustCL' ul'three Harri5 Federation AdeMIeS until thoiT ro5ignation in Ortober 2023. Where a potential conftict is perceived to exist, connictod Trusrees tXCUSL% themselves from voong. 17