Registered number: 09284873 Charity nurnber: 1160507 UKH Foundation (A Company Limited by Guarantee) Trnstees. Report and Financial Statements For the year ended 31 December 2021 •AB8CVENN* 1e107r2Q22 COWANIES HOUSE A09 #199 UKH Foundatiom {A Compally 1￿mited by Cvaranttt) Cwt¢nts Page Referenee *nd AdmlThistr*tive Detalls ofthe C•mp4Ay. fits Tr￿tte$ *rtd Advlsers Trust¢es' Report Independent Auditors. Report on the Finaneial Statements 7-10 Stattrnent of Fln•*el41 Aetlvltl BAlaJ)¢e Sh¢¢¢ 12 Notes to the Fbnancial Statements 13- 19 tIKH FO￿nd￿lI￿R (A Comp#•y Umlied by GuarnDt¢e) Referente and AdmiThistr*tivt Details of the Comp&DyTr its Trustees Advisers For the YUT emded 31 December 2021 Trustees D Udall S Boustouller A Rtdfern J Hultne Company regi$t¢red nllmber 09284873 Charity regiqered number 1160507 Registered oflke LanCas￿'re Gate 21 Tiviot Dale Stockport Cheshire SKI ITD Independent auditors Hurst Accountants Limited Chartcred Accoutltants Statutory Auditors 21 TLVLOt Dalt Stockport Cheshire SKI ITD Bankers National WeStilhiDSt¢r Bank pl¢ 24 Dean5gate Bolton BLI IBN Solkltors Brabners LLP HortoD House Exchange Flags Liv¢Trool L3 3YL Pag¢ I UKH Foundatio* (A Company Llmited by G¥ar*￿tte) Reference Adrnirtislrative Detail$ of the Companyi its Tru$tees aDd Advistrs (tontinued) For the yt*r ended JI December 2021 IDveslment ManY4gtrs UBS Wealth Mana8ement 1st Floor. 4 Hardman Streei Manchester M3 3HF Page 2 UKH Foundation {A Company Limited by Gllar*ntee) Trnsitt$' R¢port For Ibe ye*r eDded JI D￿¢mber 21121 The Tn￿le¢S present their atwual report together with the audiied financial statements of ihe UKH Foulldation for the I JAnuary 2021 to 31 December 2021. The Ar￿U#l Report serves th¢ purposes of both a Trost¢e$' report and a directors. report under company law. The Tnstees confirnl thai the Annual ReF¥)rt and fiTthncial statements of the charitable OTNpany comply with the cU￿ent Statutory ffqui￿rncnts. the ￿QUireMents of the chaTi¢able ¢ompany'5 governing docuvnent and the PTovisions of the Ststement of Recommend￿ Practice (SORP) applkcable to ¢haTities preparing their accounts itl accordance with the Financia] Reporting Stsndard applicable in the UK and Rq)ubli¢ of Ireland {FRS102) (effective I January 2019). Since the ¢ompany qualifies as sma]l under section 382 of the Cothpaw'c5 Act 2006. the Stta*8ic Report rquired of rnediurn and large companics uDdcr the CompaDie5 Act 21x16 (Strategic Report and Dir¢¢tors' Report) Re8ulat10Th5 2013 has been omit*d. Obje¢tlves *Dd *etlvlties a. Pt)Ilcies and obJe¢Ove$ The objtttives of UKH Foundation are to ptorMJt¢ mentsl and physical health through the provision of fu)an¢ial a5SiStance io charities and other or8anisatioDs comtnilt¢d io those ainjs or indeed other exclusive charirable purpos¢s d¢i¢rmined by the tnjslets. This fidly reflects the putpose for which the charity Wds set up to pronmxe. Tb￿ was a¢hi¢ved by tnakin8 regular donations to a wide range of healih-r¢lated charities throughout England and Wales frorn income T¢¢¢iv¢d from i investments. b. Strategies for achieving objettivei The tntstees consider donatiott requests in line with the tharitys Obj￿IlYeS. All trustees receive comprehensive proposals ' in rtlatioij to rtqutsts received in ¥dvan¢e of eacb quarlerly tnjstee Meet￿$. eD*bliDg theTD to ¢OTt5ider the rnerits of eacb request pnor io a8fttiDg or declining such & tbe relevant tEU5tee [ne¢ts￿. c. A¢tlvltles undertaken to *¢hl¢v¢ obj¢£tives Th¢ inveshneE)t portfolio genernt¢d gT(w income of £1 I Ik artd this amDuni iogedw with reserves brought fonvard. allowed UKH Foundation to donaie £200k to 42 separnie ¢bantsble organi5ations ranging from £l.000 to £15.CVJ. Examples of ¢haritiC5 SUPPOrted included 10$5 of sighL rncntal h¢￿th ottd proslate cancer s¢reeniog. UKH Foundation h85 encouraged applications for doDatiOD5 frottb brylies that meet tbe requirements outlined in th¢ Mernordndum and Articles of UKH Foundation to ensure its altnjistic objectives are fulfilled. Svch appli¢arions are eonsidered in detail and with totsl irnpartialiry by the tnLsiees with de¢isions made during 2020 ai quarterly ttvstee rneetings and fully documented by tbe rninutes of each meetin Achi¢vements p¢rformanc¢ . M3An achlevem¢nts oltb¢ foJry>any Th¢ tsILSte¢s r¢c¢ive u&thtes and l¢tters of a¢hievement and thanks from the various Ch￿l￿¢S and 8roups that donations ve b¢erJ made tv aThd oEca5lOt￿1IY visit some of the projects. Pa8c 3 UKH FO￿ndItiON (A Company Llmlied by Cwarantee) Trustee5' Report (CODtinu¢d) For th¢ year ended 31 December 21121 Flngncigl rev￿￿ A. Pfj$t balance sheet ¢veDts gnd going eo*¢e The company is dependeThl on income generated from listed inve5thienrs and the ￿lease of capital from those investments to fijnd its donalions. This form of fiulding is depcndent on markd flucftLations caused by many external risks including issues related to the Russian inv&sion of Uhrdine. However, Ihe Trust¢es have the discretion lo Incre￿ OT decrease the level of donations based on the income 8tnuated andlorcapital fluctuatsoThs. As a result, these fmattcial statements have been prepared 00 a goin8 concern basis. b. Reserve5 and Inv¢$tmeThts poliry The trus*es are committed to eThsuTing that UKH Foundation has o sound finarKial base In order to fulfil its objtctives for the public benefit. Most of the chaTity'S liquid fund& held outside its inve5rment portfolio. ate spent in the short teTtn in fuifJllitLg donation requests. It is the Ch•ritys policy to maximise donatio￿ whilst retaining sufficient to cover its ongoing costs, albeit that the timiDg of fijndmg receipts ￿￿8lls that reserves may build up ai the year eDd. Excess teseryes at the year-etKI will be allocated to appropriate causes in thc following finaDcial year. The charity's invcstrntnts are managed on a discretiorwy knLS by UBS. The funds arc inv¢st¢d on a TT¥)der4tC TSsk b3$iS whilst allowing a balance bctween grovrth in their capital valu¢ of the asscts and in the gcncr4tion of sufficient incomc to meet the charity's Tunning costs al￿ prtsving for the donation requc5ts. e. Prtnclpsl rl$ks And uneert*ltttle$ and risk The priJJcJpal risk to the ¢h2Tiry 15 the oDgoiDg maDa8emeni of the exteosiv¢ investtnent porrfolio. This is managed on a discr¢tiot)ary b&sis by UBS. with a moderate risk profile applied acros$ a th"veTS¢ Wet base. The other n￿ill risk faced by the charity r¢lat¢5 10 the distiibution of donaiiojs. Re¢ipieots ar¢ cbecked wher¢ possible by i¢f¢r¢o¢¢ to th¢ Charity ComMi￿10n website to ensure that all both.es io whom ffiJAds att distribut¢d a￿ bona fide. whose a¢tivitie$ are ¢omm¢rtsurate with the obj¢¢tives of UKH Foundatjort and thai they are fin)n¢Jally viable. The impact of Russian inYJ5ion of Ukraine has raused the Compan￿$ inveslment p)rtfolio to reduce in value Since the year end. bul as noted In going ¢ortcem secrion of the Financjal Review. th¢ TTus¢ees have the discretion to increase or decrease the level of donations based ott the income genernted ￿lor￿Pital fluctuations. The Trustees have asses5cd thc major Tisks ￿ whith the c]Mrity is ex[￿ and 4re satisfied that systems are ID place to mitigate exposure to the major risks. d. FiDanclal risk managetnent objectlves •ffjd policies The charity is Conlinu￿￿IY monitorirtg finartcial risk through monthly review5 of its inve51rneTht ponfolio. IhDatioos rnade are ¢onsid¢Td b&5ed on the levels of ¢ash thai ar¢ available. e. Prlndpal fumding The principal source tsf funding 1$ in¢om¢ rt¢eived from the ¢lwi"ty$ investhKnt portfolio. Page 4 UKH Foundxtion {A Comp*ny Limited by Guarantse) Trustees. Re￿rI (¢ontinu¢d) For th¢ y¢ar eDdtd JI D¢cetllber 21121 Structur< gov¢rn8nee *Dd I￿D#Vni¢Dt UKH Foundation is re8iStered a$ a charitsble company limiid by guaranttt and was Set up by a Memorandum of A5so¢ialion. b. M¢lbod$ of appointm¢ffjt or ¢l¢ction of Trnsttts The management of the com￿nY is the re5powibility of th¢ TnLStees wbo are elected and ¢o-opt¢d under the tern￿ of M¢mordDdurn of AssociatioL. . Organis#tiort*l MThei￿re and derision-u&kiThg politits Approval of UKH Foundati¢)n a5 a regis1u￿ clwity was received from thr Charity Commission on 16 February 2015. The governing d￿UM¢llt of UKH Found3tion is the Memoranthrn and Articles approved UPOD Inception. On L January 2018. UKH F¢JJndatton di$psed of its interell in its ts8ding subsidiary. Bolton and District Hospiial Saturday Council. d. Ptsli¢ies adopted for the i1￿￿¢ti&ll *nd ¢r*lnlng of T¥•stees The key skills that the truste¢s believe 4)propriate to the composition of the board are fman¢ial. legal. sales aod mark¢tiO8, .and HR ¢xp¢nence. A recruitmetst Pto¢¢ss is in place for app)intiag any tnlsiees. All trustees ar¢ appointed on the vote of the ¢XiSiing following a [0kn￿t intrvi¢w process. All trustees have a fvll understanding of the Charity Commission guidance on publi¢ bencfit. ensuring that all decisions taken aCk[￿￿1¢dge Such. Training events are attended where possible by ttiJske$ on a rolling basis io provide an understanding on what they need to know and wh* thty need to do. to comply with guidance issued by the Charity Comtni5sion in July 2015 4n-E5sential Trus￿." t. Pay poll¢y for key man*%emettt perso**el The TrU￿¢¢S arr not remuncratcd. In addition therr •t no other paid C￿loY￿S of th¢ rornpany. f. Fin**ei41 risk minagtrnent The TTUStees have assessed the rnajor risks io which the cornpany is exposed. in particular those related to the operations and fLnaTrces of the ¢Otthpany, and are satisfied that system5 and prwedures are ID place to miiigai¢ exposur¢ io the major E. Future dev¢lopm¢Dts It remains the inL¢ntion of the trustees to continue io mak¢ charitable th)nations oui of investhient retUnLS generatcd. at Icast in the short io mediutn ternL The trustees will review the long term bjtsjre of the charity in due course. Pag¢ 5 UKH Foundation (A Cowp*Dy Limited by G¥aTAntee) Trusttt5' Report {coDtinued) Ffjr the year eDded 31 December 2021 Statement of Tru5t¢¢s' responslbilities The Trustces (who are also tht directOT5 of the company for the purposes of cornpany law) are res[￿sIble for preparing the Trusttt5' Rq>ort and the flnancial 5￿t￿nents in accordance with applicable law and United Kingdom Accountin8 Standard5 (United kn"n8dom Generally Accepted Accountittg Prncticc). Company Itw requires the Trustees to prepare financial 5tstements for each financial . Under company law. the Trustees must not approve the finaDcial 5tatemeDTS unles5 they are satisfied thai they give a true and fair view of the state of affairs of the company of its iDcorning res0ur¢e5 and applicaiion of Tesources. includin8 its income and expenditure, for that period. In preparing these financial stateTDthts. the TTr￿ees are r¢quire4J to: select suitable acC(rt￿ting policies and tben opply them ¢onsistrntly." observe the meihods artd principles of the Charities SORP (FRS 102}. make jud8emenl$ and accountill8 e5timalts that art rea50Dable and prnden¢ stale whether applicable UK Accounting Stsndards (FRS 102) have been followe4 subject to any Material d¢parn￿¢S disc105ed alld explained in the finatscial statements" prepare the financial statements on th¢ goithg eoneern b&sis it 1$ inappropriate to Pr￿uMe thal the ¢ompany will continu¢ in busin¢5S. The T￿￿te¢s 3r¢ responsible for keeping ad¢quatc accounting rI￿rdS that are sufflcienl to Show and explain the cornpaTh￿S traTh5aclions and disc105e with reasonabl¢ arcuracy at any time the finarKial positi¢)n of th¢ company and enabl¢ them to ensur¢ that th¢ financial 5tatcrnents comply with the Companie5 Ad 2006. They art also responsible for safeguarding the a55e¢s of the company and hence for taking rcasonable steps for the prevention and detection of fraud and othcr irregularities. Dtsclosur¢ of iDformatloD to *uditors Each of the persotLS who are Trnstees at tbe time when this Tnjstees. Report is approved has confirn)ed that.. so far 3$ that Trustc¢ is awart. theff is no relevant audil ]nforn￿l10n of which the charitys auditors are unaware. and that TnJst¢e has thken all the steps thai ougllt to bave been tsken as a TTUStee irt order to be aware of relevant audit infornjatioll athd to tstablish that th¢ eljatity$ audiiors att awatr of that ￿fo￿lation. Auditors The audito￿ Hurst Accountants L1rnite￿ have indicated thcir williogDess to contloue Ln office. The designated Trustees will Pro￿Se a rnotion r¢4ppointin8 the 4uth'tOTS at a meetin8 of the Trustees.. Approved by order of the mernbeT5 of the board of Trustees aTLd siwKd on their khalf by.. D Ud*ll Trustce Date.. 12 Jul 2022 Page 6 UKH Fouttdation (A Ct)mp*ny Umited by Gu•r*nt¢¢) Indeptndtnt A•ditors' Report to the Members of UKH Foundation Opinion We have audited thr finan¢ial slatem¢nts of UKH Foundaiion (th¢ 'rhaTitsble company) for th¢ year etlded 31 D¢¢ember 2021 which cotnpri5e the Statement of Financial Activities, tb¢ Balance Shee( the Stat¢￿ent of Cash Flow5 and the ielat¢d notes. Including a Summary of sigoificant accountiug policie5. Th¢ fuwjcial rtporting frdmewoik that has been applied irt their prep2Talion is appli¢abl¢ law and Unitcd knngdoJD Accounting staDdar￿ including Financial Reportin8 Standard 102 The Financial Reporting Standard applicablc in tbe UK and RepublLC of Ireland. (United ￿ngdoM Generally Accepted Accounting PrdCtice}. In our opinion the finan¢ia] stst¢menlS= give a trn¢ aThl fair view of the stat¢ of the ebaritsble ¢omp2nY$ affairs as at 31 D￿ember 2021 and of its incoming resources and application of resource5. including its income and expeDditure for the ye4r thcn ended. have been properly pr¢par¢d in accordance with Uniicd Kin8dom GenerAlly Accepted Accounting Practice.. and have been prepared in a¢cordan¢e with the reqUI￿n¢￿ts of the CompanJ¢s Act 2(K)6. Ba$ls for oplnloTh We conducted our audit in accordance with International Standar&s on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further dc5cribed in the Auditors, responsibilitie5 for the audit of the financial staiernents section of our rq￿rt. We are indepcndent of the charithblt company in accordance with the ethical requirements thar are relevant io our audii of the financial 5tstemeThts in the Unlied KLDgdom. including thc Financial Reportin8 Council's Ethical Standard, and we have fulfilled our othcr cthical responsibilities in accordance with tbese requirements. We believe that the audii ¢vidence we have obtained is sufficient aDd appropnaie to providE YA b&5is for our opinion. Conclusions relarfng io golng ¢•Atern In auditing the finartcial sw¢meotx we have concluded that the Trusttts, of the going concern basis of accounting in the pr¢paraiion of the fLDats¢ial ststements is appropri*e. Based OD the work w¢ hav¢ perforn)e¢ we hav¢ oot identified any m*erial UDcetuinties relatin8 to evert￿ or ¢otsditions that, individually or colle¢tively, rnay ust sign]fJuot doubt 01 th¢ rhan"table Compall￿$ ability to cootinut as * going onc¢rTh for a period of #t lust twelve month5 froTn when the financjal staieiixents aT¢ authorised fot issu¢. Our resport5ibiliti¢s and the re4)onsibiliti¢S of the TrJstec5 re4¥ect to going ¢oThG¢rn ate described in the T¢levant sections of this report. Other Infor0￿11•￿ The otber information compnses the ￿￿Orn￿tiOn included in the Annua] Report other thatt the fuuncial statetnents aDd our Auditors, ReTK)rt ihereon. The Tnsstees are resptsnsible for the other information contained wiihin the Annual Report. Our opinion on the financial thiemertts docs not cover the other inforrtlation art except to the extent otherwise explicitly slafed in our report. we th) nol ¢xpre55 any form of ￿Urance conclusion thereon. OUT resw)nsibility is to read the other information and, in doing 50. consider theiher the other iTrforn?aiion is materially snconsisieiit with the fJnan¢ial Staiemenrs or our knowledge obrained in the Course of the auth"¢ or othetivise appears to be materially missrared. ff we iderttify such Material inconsisteocies or apparent material misststernetsts. we att required to determine whether thL'S gives rise to a material misstatement ID the fioan¢i3] ststemen¢S the￿selve& If. based on the work we have performed. we conclude that there is a material misstateTneni of this otheT inforrnati￿ we are rquired ￿ rew>rt that f¥t. We have nothin8 to report in this regaf Page 7 UKH Fowtsditio (A Con4)￿Y Limlted by Gusranttt) Independent Audltors. Rtport lo the Mernbers ofuKH Foundation (contlnued) Oplnlon OD Other matt¢r$ pr¢xribed by the Companies Ad 2006 In our opinion. bas¢d on th¢ work undenaken in th¢ course of th¢ auth"r. the inforniaiion given in the Trusiees, Report for the fllwKial year for v4hich the financial statements are prepared is consisttnl with the financial statements. the Trustees, Report bas been prtpared in a¢¢ordance applicable legal requirements. Matt¢r$ Y4hl¢b we ar¢ r¢quired to r¢port by ¢Jf¢ptio In the li8ht of our knowled8c and und¢rstandin8 of ihc charitable cornpany and its envitonment obtained in the ¢oyrs¢ of the audit, we have not identifLed material misstatements in the Trnslees. Rtport. We have nothin8 to report in respect of the following matters in relation to which Companie5 Ad 2006 require5 U5 to report to you if. ITh our opinion.. &d4￿ale accounting records. bave been kw or adequate for our audit have not been received from brdnches not visited by us. or the fLDancial 5taternents are noi in agreetnent with the accounting retords and rewrns" or certain di5cltssures of Trt￿t£s. rcmunerntiOTL swifid by law are not mad¢. or we have ttot re£¢ived all the inf0m￿tion and explanations we require for our auth"t: or thc Tnjsiees were not entitled to prepare the financial statements ID accordance with the small Companies re8ime amd take advantage of the sma]I compani&%' eAellLPtions ID prqmriug the TnLStees' Rew>n and from the requirement to pr￿are a Strntegje Re Re$poD$ibilit5¢$ of trn$t¢¢s As explained more fidly ID the TnJst¢es' Re5tN)n5ibiliiies StateroenL the TTUSt¢es (who are also the directors of the charitable company for the purposes of Company law) are responsible for the preparation of the financial statements and for being Satisfied thai they 8ive a tru¢ and fair view. and for such internal control as th¢ Trustee5 determine Is necessary to eDable the preparatioll of financial sra*meots that are frec fron) maierial misStatemenL wheiber dut to fraud or error. In preparing the fjnancial statements, the Trustees are responsible for a￿£sSing the Ch￿l￿b]e company's ability io continue as a going concern. disclosing. as applicable. matters related to 80in8 concern and ￿Irt8 the going concern bui$ of accounthng unles5 the Trustee5 either intend to liquidate th¢ clwi"rable company or tr> ceas¢ operntions. or have no realisii¢ aliernaiive but LO do so. Page 8 UKH F(fvuDdation (A Company IAmit¢d by G4xr*ntee) Independent A￿ditorS, Report to the Members of UKH Foundation (tontinutd) Auditors. re$poosibilities for the audit of the firt*ttci*l rt¥tements Our objectives are to obrain ffasortoble assur￿ about whether the fillan¢ial sraterncnts as a whole are free from material misstatemen¢ whether due to frnud or etror. and to issue an Audiiors, Report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guaTantee that an audit Cotkducted in accordance with ISAS (UK) will always deterl a matcrial misstrtement when it exLSts. Misststements can arise from fraud or error and are conside￿d matcrial if. individually or LD tbe •ggre8ate. they could reasonably k expected to influence the ecoDomic deci5Lons of user5 taken on the b&sis of these financial ststetMIt Irregularilie5, including fr3uI ar¢ Ln5tanccs of nonrfompliance with laws and regulation5. We desi￿￿ procedures in line with our responsibilities. outlined above, ￿ det￿1 material misstatcmcnts in respect of irregularili¢s. including fraud. Thc extent to which our prncedures are capablt of detecting irregularities. including fraud is detailed below. Identifyittg •nd A5se55iDg poteDd#l risks related ¢0 irregul*ritieJ In identifying and &sse5sing the risks of material Mi￿tatement in res[￿1 of trregulariti&s. including fraud and non- compliance with laws and regulations, we considered the following-. The nantre of the itthstry 8Dd Sector ID which the company operètes. the control environment aDd busines5 pcrformarKe includjng kty drive￿ for dircctors. remun¢ratlOD. bonus l¢vel$ and performan¢c tsrgets. 11)e out¢om¢ of enquiries of local management and patent ¢oinpany Inana8ertJettL irt¢luding wh¢ther rn#nagement was aware of any instances of non-eomplianc¢ with jaws and ￿gUlati4)ll$, and whether manag¢mtni had knowl¢dge of any actual, 5￿peCted. or alleged fraud. Supportin8 docurnentstion r¢lating to the Compan￿5 policie5 and proc¢dure5 for.. Identifyitlg. eva]uating, aud ¢OTDplywg with laws regulatioos DetectsDg and responding io lh¢ nsks of fralld The internal ¢ontrols e5tablisbed to mjtigate risk5 related to fraud or non-compliartc¢ with laws and regll1ati0￿. The outcome of discussiotLS amortgst ihe enga8tmtnt team regardin8 how and where fraud mi8ht o¢cur in the fitwicial 5tatetnents aDd a￿Y potential iDth"carors of frdud. The legal and regulatory framework in wbich the Company operates. particularly those laws and regulations which bave a djrect effcct on the fllwicial 5ts*tnents. such a5 the Companies Act 2(M)6. CbaritLC5 SORP. Cbarities Act 2011. Chariti¢s Ctsmmissio￿ pensions and thx 1¢gislatio￿ or whi¢h had a fimdarncn¢a] eff¢¢t on the operations of ihe Company. incltsdiDg G¢Treral Daty Prweciion requirements, and Anii-bn"tw and Cormption. Audit response to risks idelltifjed procedures to resp)nd to the risks ideniified included the following. Reviewing the firtanckal sw¢ments disclosures and testing to supporting do¢umcntstion to assess compliance with the provision5 of tbose relevattt 13W5 aDd regulations wbi¢b have a direct eff#t on the financial statements. Dis¢ussions wilh manag¢m¢nt. in¢luth"ng ¢onsiderntiOD of known or suspe¢ted it￿nceS of nonv¢. and the further rernovtd Tlon-eompliance with laws and re8ulation5 are from the events and transactions reflected in the financial stsiements. the less likely we would become aware of thern. Also. Ihe risk of noi detecting a maierial misstaler￿Tht due io fraud is higher than the risk of not detectin8 one resuliiDg from effor. a5 fraud rnay involve deliberate cOncea￿￿t by, for exatnple. (or8¢ry or intentional rnisrepre5entatLOJLS, or througb collusion. A further de5CriPtion ol our r&%ponsibilities for thc audit of the financial statement5 Is l¢xated on the Financial Repothn8 Council'5 wcb5lte at.. ww.frc.or .uklaudil T5Tts n5ibilitlC5. Thi5 description foTh part of our AuditOTS' Report. Use of report This report is made solely to th¢ ¢ban"table eompanls memkT4 ¥ a body. ill a¢¢ordaD¢¢ with ChapteT 3 of Part 16 of the Companies Aci 2(M)6. Our auth"1 work b¥ beeo uttd¢nak¢D so thai we might swe 10 the ¢harirable company's members thos¢ lljaners we required to stale 10 thern in ￿ Auth"Iots' R¢port and for no othei Pu￿0$t. To the fvllest extent rrnitt¢d by law. we do not &¢ept or &ssume responsibility to •*yon¢ oth¢r than the ¢ban"tabl¢ ¢ompany and its mcmbers, as a body. for our audit work. for this r¢pory or for the opiniorts have forrned. HeleTr Bes*nt-Roberts (Senior St*¢utory Avditor) for and on ￿h3]f of Hurst Account¥nts Lirnited Chartered Accountants Ststutory Auditors Lznclshire Gate 21 Tiviot Dale Stockport Cheshire SKI ITD Datc.. 12 Jul 2022 P88t 10 UKH F•undatio {A Company Lijttited by Guw4D¢¢¢) Statement of finAncial activities (incorporating income aDd expenditthre account) For the year end￿ 31 D¢t¢mber 2021 UTrre5tricted f￿ndS 21121 Total (und5 2021 Toiol fvnds 2020 Note Incorne from". )vestments liiJ89 liiJ89 JOO.81Q Totsl income IllJ89 111.389 JOO.81CI Expenditure on: ChaTitsble actlVLtifs 233.1185 233.08S 201. 111 Total expenditure 233.1185 233.085 201.111 Net expenditure before net tal*￿00￿%t5) on Investmttsts Net gainsloosses) on investrnenls 1121.696) 257￿21 {121.696) 257.821 (100.301) (181,237) Net ￿￿Vernent in fuDd5 136.125 134125 (281,558) R¢¢onciliarfott of funds: Total fijnds bToughL fO￿ard Net rnov¢m¢nt in 3J31,569 136,125 3J31J69 136,J25 3.613. 107 (28J.538) Totsl funds e4rried forw*rd 3,467,694 3.467.694 3.33J.5tf9 Tbe of FiDall¢ial Acrivities includes ajl gains and Il￿e5 recogDised iti the year. The notes on p28es 13 to 19 fortn part of thcse finaD¢ial sthtements. Pa8ell UKH Foundation (A Company Lijnited by GuaT*Thlee} Registered Dumber: Q9284873 B*lgLnce Sheet As at 31 December 2021 2021 2020 Notr C¥rrent assets Investhneots Cash at bank and io hand 3,184.876 293.757 3.065.921 270.068 3.478.633 3.34J.989 Crediiors.. amounts frdlling due within one year io (10.939) (10.420J Ntt (￿rrent aSSEts 3.467.694 3.331.509 Tot¥l Det assets 3.467,694 3,331.569 Charity funds Restricted fijnds Un￿$tric1ed funds 12 12 3.467.694 3.331.569 Tot41 funds 3.467.694 3.33J.569 The Trusiees aCk[￿wICdgC their respoLsibilities for complying with the requirements of the Act with respect to accouthting records and preparation of finallc1￿ statetnents. The financial statement5 have br¢n prtpared in aCCorda￿t with thc provisions applicable to ¢ntLtLe5 subject to the small companies r¢girne. The fLnancLal statemcnts wcrc approved and auth0ri5¢d for issue by the Trustees and 5i&Led on their behalf by.. D Udall Trustee Dal¢'. 12 Jul 2022 The TV)tCS OD pa8cs 13 to 19 fortn part of fmancial 5tatttntnts. Page 12 UKH Foundatiowj {A CompAlly IAmited by CuAraThtee} Note5 to the Fin411ti41 Siatements For the year ended 31 Decetnber 2021 Gen¢rg1 inform*tion UKH Foundation is a charity limited by gwantee incoryornt¢d in the United ￿.￿g(￿•m. The regisiered offic¢ for the Charity is Lan¢ashire Gate. 21 Tiviot Dale. Sio¢kpoo SKI ITD. The principaf attivity of the charity for the year under revi¢w was tbe use of from lis investmentwnfolio io Tnake donotions to healthcare chaTitie& A¢¢ounting pollcl¢s 2.1 Basis of prepar*tioD of finantial st*temtnts The financial srat¢ments have been pr¢pared in accordance wtth th¢ Charitie5 SOtiP {FRS 102) - Accounting and Reporting by Charities.. Statement of Recommended Praciice applicable to charities preparing their accounts in accordance with the Financial RetA)rtiThg Standard applicable in ihe UK and Republic of Irelathd (FRS 102) (effeciive l January 2015). the Financial Reporting Standard applicabl¢ in the UK and Republie of Ireland (FRS 102) and the Companies Act 2006. As the charity qualifie5 as small. li is required tts prepare a cash flow statemeDL UKH Fourldation rnccls tbe definition of a public bcnefii entity under FRS 102. Assets and liabilities ar¢ initially recO￿lS¢d ar historical cost or transactioTr value Ltnkss othtn4ryse stated Fn the relevant account￿￿& policy. 2.2 In¢• All income is rccognise4J oJ)¢e the cotDpany bas entitiett*nt to the incomE. it is probable that thc incone will be received and thc arnowit of in¢orne receivable car> be measured reliably. Invesknent incornc 15 rea]ised as the charity is n￿lfied of such returns. usually dLVLdeThds or interest. Caillsllosse5 on inv¢sthwnts Unrcalised gains and 105ses OD iDve51ments are calculated by reference to the movement in fair value of investtDents dunn8 the period 8lld are recorded wkthiD sain￿1¢)5$eS on investmeDts. Realised gains aBd losses on investmenLS are cakulated at the date of sale of an itivesthTren¢ &od ts ulcvlated &8 thc tnovement beiweeTh the value of th¢ investment at th¢ b¢ginning of ihe year {or the date of pur¢hase if durin8 th¢ y¢ar) aod the date of sal< Th¢ resuliwg gain or loss is reo)rd¢d within gainsl]osses on investtnents. Income tax re¢ov¢rabl¢ in relation to investh*nt incom¢ 15 recognised at the time the investment incoTne is receivable. Pag¢ 13 UKH Foundatitsn {A Cornp*Dy LitDited by Guar*tsiee) Notes ¢0 th¢ F(n*nti*l Statem¢nts For iht yur ended 31 Dttember 2021 Accounting polities (continued) 2J Eipenditure Expenditure 15 recognised once ibere is a legal or coDstrucuve obligation to traDsfrr economic benefit to a third party. it 15 probable Ihat a trarLsfer of economtc benefits will be required in settletThent and the amount of the obligation can be m¢asured reliably. Expendittwe is classified by activity. The costs of ea¢h aciiviry are mad¢ up of the total of direct CQ5ts and shared costs. includin8 SUPPOrt ¢osts involved in undertaking each activity. Direct costs attributable to a single a¢tivity are allocated directly w that activity. Shared co$ts which contribute to more than one activsty and 5uppon costs which are not allribLLtable to a singl¢ activity are apportiot]ed between those activities on a basis consistent with the use of resources. Centsal staff CO$LS are alloe2ted on tht basL5 of lime spent. and depre¢iation charges allocated on the portion of the asset's use. Expeoditure OD charilable activitie5 is incurred on directly vndertaknn8 the activities Lljrtber the CoMpan￿S objectivts. &8 Wtll as any asS￿￿ted support costs. Grants and donations payable ar¢ charged in th¢ year ￿en the offer is mad¢ except in those cas¢$ where the offer is condiiional. such grants being recO￿lsed as expendilure when the condition5 attaching are fiJlfLlled. Grants otTered subject to cortditions which have noi tr*en met at the year end are noted as a commitmeni, but IiOE accrued ￿ expenditure. All expenditure is inclusive of irrecovetable VAT. 2.4 Investments The charity's invc5tmcnt portfolio is a coll￿tIon of bond aThJ equity investments that are Teadily convertible into liquid resources. and are frequently bought and sold in line with inve5tmtnt policy. As a result, investments are treated as current a55¢t inv¢suneThts. Such investments are initÉally rneasured at transaction cost. and are re-rneasured to fair value at the reportin8 dale. At each subsequtni reporting date, fair value is re- me&sured for inve5tm¢ftLs that are retained. with movemeThts recorded a5 unrtalised gains or losses. Whcrc invesrrnents are sold. the difference betwectl tbe fair value at the previous Ttportillg date (or dale of purchase if purchased in the year) is recorded a reali5ed 8ain or loss. Inv¢stm¢nt gains and loss¢s. whether realised or un]ralis¢d, are combJt)ed aThl pres¢nted 'Gainsl(Loss¢s) on investments. tn the Statement of Fillanciai Activities. 2.5 Cash at bank and in hxAtl Casb at baok aod in haod It￿lU&S ush and short-lerm higtsly liquid investments with a sbon mattwity of three molltbs or from the da￿ of acquisition or opening of the deposit or skrniiar •¢c¢)un¢. Page 14 UKH FoundxtiOII {A Compatty Limiled by Gu*r#Dtet) P*otes to th¢ Finaneial Statements For the y￿r ended 31 December 2021 Atcounting policies (colltinued) 2.6 Liabilities *nd prnvisitsns Liabilities are recogni5ed wb¢n tbere is an obligation at the Balance Sheet date as a result of a past evetlt. it is probable that a transfer of economic benefit will b¢ r¢quw¢d in s¢ttlemtnt, and the atDQUDt of th¢ s¢til¢m¢nt can be estimai¢d Teliably. Liabilitics ar¢ recogrtised ai the amount that th¢ ronjpany anticipat¢s it ￿11 pay to settle the debt or the amount it ha5 rccciv¢d as odvanced payments for the goods or SCTvi¢es it must provid¢. Provisions are measured * the best ¢Mimate of the amounts required ￿ settle the obligatioii. Where the effett of the time value of It￿neY is matetial. the provision is based OD the present value of those amounts. discounted ai the pre-thx discounl Tate that reflects the ri5k5 speckfic to the ltsbility. The UDWiDding of tbe di￿Ollut is recogniscd in the Statetn¢Dt of Financial Activities as a fllwLCC Cost. 2.7 FiD8ntial inslruments The ¢ompany only Iw fllwicial assets aDd fJnan¢ial lthbiliii¢s of a kind that qualify ￿ basi¢ finan¢ial instrLmi¢r)ts. Basic financial instruments ar¢ inilially r¢¢ogThisol at rransaction value and subs¢qu¢nily measured ai th¢ir s¢ulem¢M value with rhe ex¢epiion of bank loaDS whith ar¢ subsequently measured ar arJJorti5ed ¢ost usittg th¢ effective illreresi metho 2.8 Fund aetountSDg Gcnernl funds are unrestricted fimds which are available foT use at the dis¢rttion of the Tn￿1¢¢$ in fvrtherance olthe generdl objtctives of the company and which have not been designated for other pu￿05¢S. InvestmeTht incorne. 8ains and1055e5 are alloca￿ to the appropriatr fill InvestmeDt ID¢onie Unrestrki¢d fuTrd5 2021 To¢41 fvnd$ 2021 Tothl 2020 I￿orne from listed inveskn*nlS 111.389 IlJJ89 100,810 Tothl 2020 IQO,810 JOlJ.810 Page 15 UKH Foundation (A Company Limited by GllarxDtee) Note5 to the Financial S¢¥ternents For the year ended 31 December 2021 An4ly5i$ of ¢h•rlt*bk donations n￿de Crants Org#nis#tions 2021 Total fuDd5 1021 Tor&1 [tsnds 2020 Grants and Ch￿.￿ble donatlOD5 200.000 200.01)0 171.292 roiol 2f)20 171.292 J71.292 Ath*ly5i$ of expe*dltsre on th*rit*ble *etiwitles Summary by expenditsre typt Unrestricted fuDd5 2021 Toeal funds 2021 Toi41 2020 Go¥ernan¢¢ costs 33,085 200.0(X) 33.085 2110.000 29.819 171.292 Charitsble donations Tot312021 233.085 233.085 201.111 Toiol 202tg 20J.IJI 201.IJI ADAIy5i5 of expeDditsre by activities A¢tivitits uthdertak¢ty Griot funding directly of ¥¢tivities 2021 Total fund5 2021 Tolal 2021 2020 Governatlce COSLS Charitable th)nations 33.085 33.085 200.000 29.819 J71.292 2￿.0(￿) 33.085 200.0 233.085 201.JII Total 2020 29,819 171.292 20J.IJI Pag¢ 16 UKH Foundation {A Compxny IAmited by Guw4Tltee) Notes to the Finanei¥l St*temeDt5 For the year eThded 31 December 2021 Auditors. rem￿lleratiOn 2021 2020 Fees payable to th¢ ¢ompany'5 a￿lItOr for the audit of the Cornpath￿S annual accounts 5320 4,608 Trnst¢u' r¢muner#tiots *tsd exp¢nxs tktring the yt4r. no Trusiees received any reTnutteratiott or other￿llerIts (2020- £NILJ. tkning the year ended 31 De¢cmber 2021. TLO Tnjstrt expenses have been inuJTrtd (2020- £NIL). Current •sse¢ investmemts 2021 2020 Lis*d iDv¢stments 3.184.876 3.065.921 Listed investments relatc to an investment portfolio Comprising of bond and equity investments. Tbcse are readily ¢onvcrtible into liquid fund% hence these arc classified as ¢UTTent asset iDve5tmcnts. DuriDg the year. total WdiDS on invesiments were £257.821 (2020.. to￿1 loss￿ of £181.237). i•. Creditors: Amounts f*lliDg due wiihin one year 2021 2020 ACcn￿lS and deferred income 10.939 JO.420 ii. Fln4ncSal insiruJDettts 2021 2020 Fin*Dclal 8$5¢ts Financial &55¢ts measured at fair value thwgh income and eX[thh.￿re 3.478.633 3.065.921 Financial assets rTKasured at fair value thrrmjgh income and exrKDth'Thwe comprise an investment portfolio. Page 17 UKH FouTrdation (A Company Limited by Gu*ralltee} Note5 to ihe Fin#D¢ial S¢*tements For the year ended 31 De¢¢mber 2021 12. Stst¢ment t)f fuDds S¢•tement t)f fufyds- ¢¥rrent year Balance #131 December 2021 Gain51 (￿SSes) J*•uary 2021 Income Ewnditure Unre$tri¢ted fuods G¢oeTal fiffjds 3J31J69 IllJ89 (233.085) 257.821 3.467.694 St*tement OffU￿d5- prfor yur Balaryce ol J J¢7VUary Balance ai GatKs/ 3] December fLossesJ 2020 2020 Income ExpeNdi¢ure Unrestrleted funds General Funds 3.613.107 1th).8JO oi.JiJ) (181.237) 3.331.569 13. Analysts ofnet #ssets betrleett fllrtds Analysts of net #ssets bttweety f#ttd$- year iJnr¢strict¢d Tot81 fund$ 21J21 2021 Current ￿Sets Creditors du¢ within one year 3,478,633 (10.939) 3.478.633 (10.939) TfJt*l 3.467,694 3,467,694 Pa8e 18 UKH Found¥¢ion (A Ct)mpafjy Limited by GuaraDltt) Notes to Ihe Fin¥llri#l Statemenls FOT the year eDded 31 Decernber 2021 13. An&ly5i5 •( net •ssets be¢weefj f￿nrts (¢•nti*Med) Anjhlysis of net assets b¢¢w¢tn f4nds- prior y¢*r Unresiricted To¢al funds 2020 2020 CuTren¢ assets 3,341.989 (JO.420) 3,341,989 (10,420) Crcditots due within one ycaT Tfytal 3,331.569 3.331.569 Page 19