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2023-12-31-accounts

ANNUAL REPORT AND FINANCIAL REVIEW 2023

FOR THE PERIOD 1 JANUARY 2023 – 31 DECEMBER 2023

Registered Charity in England Number: 1180518

2 | Hendy Foundation Registered in England 1180518

HENDY FOUNDATION

TRUSTEES

Rebecca Hendy – Chair

Mark Busby – Vice Chair

Alyson Marlow – Secretary Richard Scott Chris Drew – Treasurer

Kyle Wood (appointed May 2023)

PRINCIPAL AND REGISTERED OFFICE

School Lane, Chandler’s Ford, Eastleigh, Hampshire SO53 4DG

CHARITY REGISTRATION NUMBER

1180518

INDEPENDENT EXAMINER

Jason Foxwell FCCA FCIE

39 Enfield Road, Poole, Dorset BH15 3LJ

BANKERS

HSBC Southampton

55 Above Bar Street, Southampton SO14 7DZ

Annual report and financial review 2023 | 3

CONTENTS

WELCOME FROM THE CHAIR �����������������������������������������4 TRUSTEES’ REPORT �������������������������������������������������������������6 Hendy Foundation ���������������������������������������������������������������6 Strategy ��������������������������������������������������������������������������������6 Our purpose �������������������������������������������������������������������������6 Our mission ��������������������������������������������������������������������������7 Our objectives ����������������������������������������������������������������������7 Our values ����������������������������������������������������������������������������7

STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT ���������������������������������������������8 Governing body ������������������������������������������������������������������8 Relationship with Hendy Group Ltd ������������������������������������8 Remuneration Policy ������������������������������������������������������������9 Organisational management ����������������������������������������������9 Recruitment and training of trustees ������������������������������������9 STRATEGIC REPORT �����������������������������������������������������������11 Aims and objectives ������������������������������������������������������������11 How our activities deliver public benefit ���������������������������11 Who benefited from our grants in 2023 ���������������������������12 Grant statistics ��������������������������������������������������������������������14 Our impact �������������������������������������������������������������������������14

Fundraising �������������������������������������������������������������������������15 Risk management ���������������������������������������������������������������20 Governance �����������������������������������������������������������������������20 Asset management ������������������������������������������������������������20 Compliance and regulation ����������������������������������������������20 Grants and donations ��������������������������������������������������������20 FINANCIAL REVIEW ���������������������������������������������������������22 Basis of accounting ������������������������������������������������������������22 Financial performance ������������������������������������������������������22 Income ��������������������������������������������������������������������������������23 Expenditure ������������������������������������������������������������������������24 Payments to trustees �����������������������������������������������������������24 Assets and liabilities �����������������������������������������������������������24 Outlook �������������������������������������������������������������������������������25 Reserves Policy �������������������������������������������������������������������25 INDEPENDENT EXAMINER’S REPORT ���������������������������26 RECEIPTS AND PAYMENT ACCOUNT AS OF 31 DECEMBER 2023 ��������������������������������������������27

4 | Hendy Foundation Registered in England 1180518

WELCOME FROM THE CHAIR FOR THE YEAR

It gives me great pleasure to present the Trustees’ Annual Report and Financial Review for the year ending 31 December 2023.

The year ended with yet another unprecedented level of grants being awarded to local charities, organisations and individuals� In total, 60 applicants who applied for a grant in 2023 were successful in their application (2022: 47), with a total sum of £103,480 being granted (2022: £96,131)� It is worth noting that not all successful grants were paid due to the need for additional due diligence� Since the first grants were awarded in 2019, Hendy Foundation has donated to 189 charities and organisations to date – in total, a grand sum of £306,320 has been awarded to charities since 2019�

Grants are awarded on a restricted basis and must be spent by the successful applicant within 12 months of receipt of the donation, and therefore, part of the donation process involves ensuring that the donations have been spent in accordance with the terms and conditions� Should a grant not be used as per the original grant application request or within the 12-month period, it will be requested that the grant is returned either in full or whatever the remaining value� The reason why this process is carried out is to minimise the financial risk to Hendy Foundation; nonetheless, requesting a donation to be returned is a rare occurrence� In 2023, unfortunately, two grant payments were returned due to the charities involved not spending the donation within the time frame and being unable to guarantee it could be spent on the original items stated in their grant request applications� The returned donations were reallocated to the subsequent grant funding pot and awarded to successful charities�

The rise in demand for our services has increased yet again during this financial year� A survey by the National Council for Voluntary Organisations found that 85% of charities said that times have been tough if not tougher in 2023, and one in five charities could be forced to close if things don’t improve� The climbing costs and falling funding have resulted in even more charities applying to Hendy Foundation for larger than usual grants� As a charity ourselves, we are very appreciative of the donors who have helped raise our funds and have seen the highest levels of funds received since 2019; however, the impact of the greater volume of grant requests has been noticeable, particularly on the workload of the volunteer trustees� During 2022, the strategy was to increase fundraising and increase the number of trustees on the board, both of which have been achieved� Additionally, the trustees recruited their first volunteer, who is helping with the rise in administrative duties� Payments from Gift Aid, which was set up in 2022, have now started to arrive, boosting the fundraising efforts further�

Annual report and financial review 2023 | 5

During the year, over £2m (2022: £1m) worth of grant requests were received� The average grant payment was £1,725 (2022: £2,045)� The aim of Hendy Foundation is to provide grants to a diverse range of charities and charitable causes across all eight counties in which Hendy Group Ltd operates; a full list of those that received a grant can be found further on in the report� However, the trustees would like to personally thank everyone who donated to Hendy Foundation; without their support, we could not provide this service to our local communities�

In addition to the financial grants, Hendy Foundation, with the assistance of Hendy Group Ltd, was able to support a number of charities in other ways� During the financial period, Hendy Group Ltd offered the services of its EV vans to help with deliveries, distribute Christmas parcels and, additionally, help supply and sign-write a car� These extra services did not involve any costs to Hendy Foundation; however, the link between Hendy Group Ltd, Hendy Foundation and the community is an essential part of the corporate strategy to create a meaningful and positive impact on the local communities�

Proudly, Hendy Group Ltd and Hendy Foundation were winners of the Dorset Business Community Award, which recognised the work of Hendy Foundation within the Dorset area� The trustees feel very honoured to have won this award – particularly considering the high standards of the other strong finalists�

We closed the financial year with 21 pledges outstanding due to finalising the due diligence process for these organisations� Those pledges that were successful were paid in the early part of 2024�

As ever, my heartfelt thanks go to everyone who has contributed to the success of Hendy Foundation – stakeholders, colleagues, customers and all of our donors� A huge thank you goes to the group of dedicated trustees who voluntarily give up their time to make Hendy Foundation the success it is�

Thank you,

REBECCA HENDY

6 | Hendy Foundation Registered in England 1180518

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees are delighted to present their annual report together with the financial review for Hendy Foundation for the year ended 31 December 2023� The trustees confirm that the annual report and financial review of the Charity comply with the current statutory requirements and the requirements of the Charity’s Governing Document�

HENDY FOUNDATION

Hendy Foundation is a local charity, established in 2018, whose purpose is to provide financial grants to local charities within the area in which Hendy Group Ltd operates, namely Devon, Dorset, Wiltshire, Hampshire, West Sussex, East Sussex, Surrey and Kent�

Since the first grants being awarded in 2019, Hendy Foundation has been dedicated to making a difference to local charities and charitable causes that require financial funding and in turn provide services to their own beneficiaries�

Our aim is to encourage community grant funding and support local charities and causes, while raising awareness of the charities and causes through social media platforms�

STRATEGY

We understand the need to continuously review and plan for the future� Our strategy sets out our objectives for the short and medium term�

OUR PURPOSE

Our purpose is to provide financial awards to local charitable organisations and causes�

Annual report and financial review 2023 | 7

OUR MISSION

Our mission is to provide a professional service to local causes to help improve charitable services within the local communities in which Hendy Group Ltd operates�

OUR OBJECTIVES

The charity’s objectives are to help improve the lives of the beneficiaries of local charities�

Our strategic objectives are to:

OUR VALUES

8 | Hendy Foundation Registered in England 1180518

STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT

GOVERNING DOCUMENT

Hendy Foundation was established in November 2018 and is registered with the Charity Commission in England, number 1180518�

The Governing Document is available to view on the Hendy Foundation website�

GOVERNING BODY

The members of the Governing Body are the trustees detailed on page 2 of this annual report�

Trustees are recruited on a two-year term� Trustees are eligible for reappointment if the majority resolves, with a limit of three terms�

This code is not a legal or statutory requirement; however, the trustees believe that this demonstrates best practice and will seek to follow guiding principles and regularly review whether improvements can be made�

RELATIONSHIP WITH HENDY GROUP LTD

Hendy Foundation was established in 2018 when Hendy Group Ltd realised the need to formalise its grant-making facility� Hendy Foundation is an independent charity funded partly by Hendy Group Ltd and partly by donations from partnerships with Hendy Group Ltd colleagues, stakeholders and customers of Hendy Group Ltd� The formation of Hendy Foundation has improved the grant-making procedure by recruiting independent trustees and a dedicated fundraising strategy� The board of trustees ensures that donations are made to all the counties in which Hendy Group Ltd operates�

Hendy Group Ltd provides quarterly donations to Hendy Foundation and also offers other non-financial support, including the use of its facilities for meetings, providing the payment terminals to facilitate the Pennies payments, marketing and advertising support, and colleague and stakeholder engagement opportunities�

Annual report and financial review 2023 | 9

REMUNERATION POLICY

The board of trustees is responsible for defining the Remuneration Policy�

Currently, no trustees receive remuneration for work carried out on behalf of Hendy Foundation, and all trustees operate on a voluntary basis� An Expenses Policy has been defined by the board of trustees, allowing for reimbursement of costs incurred while on Hendy Foundation business, namely travel, accommodation and other incidental costs� To date, no trustee has claimed any expenses� The Expenses Policy is reviewed on an annual basis�

ORGANISATIONAL MANAGEMENT

The members of the board of trustees are legally responsible for the overall management and control of Hendy Foundation�

There are no sub-committees in place�

Hendy Foundation is run on a day-to-day basis by the board of trustees, who have a defined role to ensure the smooth running of the charity�

Decisions on awarding grants are made by a trustee vote at quarterly trustee meetings�

RECRUITMENT AND TRAINING OF TRUSTEES

During the 2023 financial year, the total number of trustees stood at six, with the recruitment of Kyle Wood to support the financial aspects of the charity� The need for an additional trustee to assist the Treasurer was highlighted in last year’s annual report, and we welcome Kyle to the team with his background in accountancy and finance�

No training was provided, although training is available should a trustee require it�

A volunteer was also recruited to support the administration duties of the board of trustees� Vicky Budden was recruited in April 2023 and is a valuable part of the team�

10 | Hendy Foundation Registered in England 1180518

Annual report and financial review 2023 | 11

STRATEGIC REPORT

AIMS AND OBJECTIVES

Hendy Foundation’s aims are to help charities, charitable organisations and individuals in need within the footprint of Hendy Group Ltd dealerships, thus financially giving back to the immediate local community�

In the consideration of the projects to support and the planning of activities to raise funds, the trustees have given careful consideration to the Charity Commission guidance on public benefit� All applications are formally vetted, while the due diligence process ensures all supporting applications meet the Foundation’s aims and objectives�

HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT

All of the charitable activities are focused on delivering financial grants for local charities, causes and individuals� These activities are reviewed regularly by the trustees at every quarterly trustee meeting�

The charities and causes that benefit from a grant from Hendy Foundation must not only be located in the aforementioned geographical areas, but additionally should not be of a political, religious, national or international purpose� All grants awarded have to be used for the purpose of the beneficiaries within the said geographical areas within a 12-month time period�

Where a religious or political charity can prove that the donation will not be used for promoting religious or political views and subsequently offer their services to beneficiaries of a differing political or religious view, their grant application will be considered�

Likewise, if a national charity can prove that the award will be used solely for the required geographical area and not to be used nationally, again the grant application will be considered�

The trustees only consider grant applications via the online grant application form, which opens three or four times per year� All received applications are considered by all trustees, which results in a number of the applications being shortlisted, followed by a robust due diligence process prior to awarding a grant to the successful applicant�

Following a 12-month period and in line with our terms and conditions, all successful applicants must complete a grant funding report that identifies how and when the grant was used� This ensures that the grant was used for its original purpose as per the grant application and the trustees can monitor the success of the grant�

Those charities that do not comply with the 12-month conditions or have not spent the grant in accordance with the terms and conditions will be asked to return the grant in full�

12 | Hendy Foundation Registered in England 1180518

WHO BENEFITED FROM OUR GRANTS IN 2023

A total of 60 charities and organisations were awarded financial grants during the 2023 financial year, with a total of £103,480 being pledged (2022: £96,131) – an increase of 7�6% year-on-year�

Hendy Foundation prides itself on donating funds to a wide variety of causes, and subsequently, the beneficiaries are diverse, comprising a wide range of ages, demographic profiles and locations� Unfortunately, no grants were awarded to charitable organisations located in Wiltshire, due to the lack of quality grant applications received from this county�

----- Start of picture text -----
Total number and percentage of grants
awarded by location 2023
21.8% Devon
20% Dorset
0% Wiltshire
21.8% Hampshire
12.7% West Sussex
12.7% East Sussex
3.6% Surrey
7.3% Kent
----- End of picture text -----

----- Start of picture text -----
Total number and percentage of grants
awarded by location 2022
11% Devon
11% Dorset
2% Wiltshire
36% Hampshire
13% West Sussex
19% East Sussex
4% Surrey
4% Kent
----- End of picture text -----

Graph 1 and 2 above show how the grants were awarded by location, compared to 2022 awards�

ROUND 1 OF GRANT APPLICATIONS

Be the Change, Devon Communigrow, Kent Dementia Support Hampshire Dorset Reading Partners Face Everything and Rise, Hampshire Friday Night Charity, Hampshire HealthBus Trust, Dorset Helpful Hounds Assistance Dogs, Dorset Henfield Leisure Centre, West Sussex

Ivybridge & District Community Transport Association, Devon New Life Domestic, Hampshire Pelican Parcels, East Sussex The Grow Project, East Sussex The Treasure Basket Association, West Sussex Together Collective, East Sussex Wimborne Community Garden, Dorset Winchester Youth Counselling, Hampshire Worthing Table Tennis Club, West Sussex

Annual report and financial review 2023 | 13

ROUND 2 OF GRANT APPLICATIONS

Friends of Southampton Old Cemetery, Hampshire (annual donation)

ROUND 3 OF GRANT APPLICATIONS

Brighton and Hove Food Partnership, East Sussex Care for the Carers, East Sussex Clarity North Devon, Devon Dandelion Time, Kent Dyscover, Surrey Freewheelers Theatre, Surrey Friends of Stour Connect, Dorset Home-Start Exeter, Devon Inspiring Connections South West, Devon Mayfield and Five Ashes Community Services, East Sussex Merry Go Round Toy Library, Devon MHA, Hampshire MS Centre Dorset, Dorset MS Centre Sussex, West Sussex Pathways For All People, Dorset Read Easy Southampton & IOW, Hampshire Rising Voices Wessex, Hampshire Seachange Devon, Devon The Colour Works Foundation, Dorset The Spitfire Makers Charitable Trust, Hampshire Vintage Years, West Sussex

ROUND 4 OF GRANT APPLICATIONS

Abigail’s Footsteps, Kent Balloons, Devon Blackmore Vale Pantry, Dorset Chichester Child Contact Centre, West Sussex Felix Barrow, Hampshire My Way Support, Devon Noah’s Place Care Farm, Devon Open Sight Hampshire, Hampshire Ottery Help Scheme, Devon Pregnancy Options, West Sussex Quiet Down There, East Sussex

SE Dorset Community Accessible Transport, Dorset Sherborne Food Bank, Dorset Theatre Alibi, Devon Wetwheels South East, Kent

14 | Hendy Foundation Registered in England 1180518

GRANT STATISTICS

During 2023, 60 charities and organisations were awarded grants (2022: 47)� 21 of these awards were not paid during the 2023 financial accounting period due to requiring further due diligence prior to payment; however, all qualifying outstanding awards were paid in early 2024�

The final decision to donate relies on the quality of the applications being received from the accepted areas and whether or not they pass the due diligence procedures� Grant applications from Wiltshire remain low; however, there was a notable increase in applications received from Surrey, which had been low for the two previous years� Awards have been made to all represented counties� During 2023, the average grant awarded was £1,725 (2022: £2,045)�

OUR IMPACT

Year-on-year, grants awarded have increased� It is felt that the community’s awareness of the services that Hendy Foundation offers is becoming more prevalent and, consequently, more communities are benefiting from the grants� Grants awarded remain within the counties that Hendy Group Ltd operates�

Annual report and financial review 2023 | 15

FUNDRAISING

Fundraising is becoming more of a challenge as the cost-of-living crisis bites and fewer people are able to donate to charities; however, 2023 was Hendy Foundation’s most successful year with the highest level of fundraising to date� This ensures that more money is available to donate to successful grant applicants without relying solely on the main donor, Hendy Group Ltd� We’d like to thank the following people and organisations for their kind donations during 2023; without their support, Hendy Foundation would not be able to help local causes�

16 | Hendy Foundation Registered in England 1180518

Annuol ￿POrt ond Pinonciul review 2023 | 17 My Way N6ahS RlacÈ Otttry Iklp $PEN SIOHT PITHWIYS Pelican Parcels PREGNANCY OPTIONS (ENTRE LWIET DOWN THERE SHtREORNI FOOD SP Read Easy sedcat YOUT cornmunily tran¥ort The Treasure Basket Association Theatre Alibi Exeter, East & Mld Devon ( Together Co VINTAGt YtAk$ SUSSEX

18 | Hendy Foundation Registered in England 1180518

The fundraising plan for 2023 was to increase the levels of fundraising in order to try and help meet the additional demand for grants that Hendy Foundation has been experiencing� The plan was successful, allowing for a higher number of grants to be awarded� Fundraising events for the year included:

Annual report and financial review 2023 | 19

As a charity with an income below £1m, Hendy Foundation does not have a legal duty to provide fundraising statements; however, the trustees consider it good practice to include this in the annual report and comply with The Code of Fundraising Practice� The trustees want to promote openness and transparency to reassure donors and stakeholders that the fundraising activities are dealt with accordingly and with best practice�

All fundraising has been carried out by the trustees on a voluntary basis as part of their role as a trustee� No trustees were reimbursed any costs for their fundraising duties� No third party was involved in any of the fundraising activities on behalf of Hendy Foundation� No professional, third party or paid-for fundraisers have been employed by Hendy Foundation� No complaints were received about Hendy Foundation’s fundraising activities� The Fundraising Policy is reviewed annually to reflect best practice guidance, ensuring the following is adhered to:

RISK MANAGEMENT

The trustees have considered what major risks arise within the principal areas of the charity’s operation and this is reviewed on an annual basis by all trustees� The risk management strategy is reviewed, ensuring that the levels of risk are acceptable and that reasonable steps are in place to mitigate identified risks� The key risks have been identified under the following headlines�

GOVERNANCE

ASSET MANAGEMENT

COMPLIANCE AND LAW REGULATION

GRANTS AND DONATIONS

Annual report and financial review 2023 | 21

22 | Hendy Foundation Registered in England 1180518

FINANCIAL REVIEW

BASIS OF ACCOUNTING

As a Charitable Incorporated Organisation (CIO), the trustees’ report and accounts are prepared and scrutinised under the provisions of section 133 of the Charities Act 2011� In view of the size of Hendy Foundation, in terms of income (being less than £250,000), and its relatively uncomplicated charitable activity, the trustees have opted to account for the financial performance of Hendy Foundation on a receipts and payments basis� Accounting on a receipts and payments basis means accounting for cash when it is received and paid out during the period without making any other adjustments for sums owed or due�

In compliance with the Charities (Accounts and Reports) Regulations 2008, Hendy Foundation has opted for a financial year end of 31 December�

Hendy Foundation has also considered the provisions of the Charitable Incorporated Organisation’s (General) Regulations 2012 when preparing its accounts� This is the fifth accounting period on which Hendy Foundation is reporting�

FINANCIAL PERFORMANCE

Hendy Foundation received £107,674 in donations in 2023 (£87,081 in 2022) and spent £65,142 on grants, £2,458 on sponsorship and £402 on general expenses (£97,496, £900 and £433, respectively, in 2022)� A balance of £58,303 was carried forward to 2023 (£18,631 in 2022)� The total value of grants awarded during the 2023 financial year ended 31 December was £112,447, with £62,267 paid within the year and the balance of £50,180 carried forward to 2024 with £37,929 settled in January and the balance of £12,251 to be reallocated to 2024 applicants due to either withdrawn requests or due diligence inadequacies�

Annual report and financial review 2023 | 23

INCOME

A major source of income for Hendy Foundation in 2023 was from Hendy Group Ltd, whose donations amounted to £50,000 in respect of Hendy Group Ltd’s trading performance in 2023, which was paid quarterly in arrears� Hendy Foundation continued its arrangement with the Pennies Charity, which manages charitable micro-donations received through point-of-sale payment terminals; with the consent of Hendy Group Ltd, this facility was made available to all payment terminals within the dealerships across the entire group� By the end of the year, Hendy Foundation had received a total of £13,454 (£14,836 in 2022) from Hendy Group Ltd’s customers who had made micro-donations of £1 per transaction – an important source of funding for the charity and one that will enable Hendy Foundation to support worthy causes across the Hendy Group Ltd operational area�

In addition to the main donations from Hendy Group Ltd and its customers, a total of £42,339 was received from a variety of donors on both a restricted and unrestricted basis plus a further £1,881 from Gift Aid claims�

----- Start of picture text -----
Income sources 2023 Income sources 2022
46% Hendy Group donations 58% Hendy Group donations
13% Pennies (Hendy customer donations) 17% Pennies (Hendy customer donations)
12% People’s fundrasing 1% People’s fundrasing
27% Other donations 19% Other donations
2% Gift Aid
----- End of picture text -----

Graph 3 shows how the sources of income for Hendy Foundation were broken down in 2023, comparing to the 2022 figures in graph 4�

24 | Hendy Foundation Registered in England 1180518

EXPENDITURE

During the year, grants of £103,480 (£96,131 in 2022) were made to charities, organisations and individuals from across the geographical area covered by Hendy Group Ltd’s business operations� All grants were made on a restricted basis, and Hendy Foundation has measures in place to check that grants are spent for the purposes for which the grant was made, within a 12-month period as stated in the terms and conditions, which each grant recipient signs up to� The total expenditure for grants was in excess of the funds received, and as a grant-funding charity, we aim to distribute those funds as soon as possible, while still retaining a small reserve, as per our Reserves Policy�

----- Start of picture text -----
Expenditure by type 2023
95.79% General grants paid
3.61% Sponsorship cost
0.59% Administration costs
----- End of picture text -----

Graph 5 shows the expenditure in 2023 by type of activity�

Hendy Foundation incurred some modest administration costs, such as the costs of independent examination of the accounts and membership fees, totalling £402 in the year (£433 in 2022), representing around 0�6% of its total expenditure (0�4% in 2022)� There was a cost of £2,458 in respect of sponsorship for fundraising, which resulted in a 16% increase in colleague-enabled income�

An element of expenditure will be required in 2024 for unavoidable costs such as bank charges, IT costs, fees paid to the independent examiner and other expenditures, but Hendy Foundation achieved a figure of 96% of its expenditure in 2023 being related to providing grants (99% in 2022), which was in line with its target for the year�

PAYMENTS TO TRUSTEES

There were no payments to trustees in the accounting period�

ASSETS AND LIABILITIES

The trustees will submit accounts to the Charity Commission on the above basis (see the end of this document)� The only asset of the CIO at the end of the accounting period was in the form of cash held at the bank� There are no liabilities� Consequently, the trustees confirm, in accordance with the Charitable Incorporated Organisation’s (General) Regulations 2012, that at the year-end, the CIO did not have any outstanding guarantees to third parties, nor any debts secured on assets of the CIO�

Annual report and financial review 2023 | 25

OUTLOOK

Looking ahead, of the balance of £58,303 held in cash deposits at the bank on 31 December 2023, £50,180 was earmarked for grant awards that had been approved in the year but had not been paid out� Although the majority of these were subsequently paid during January 2024, £8,059�40 was withheld because either the request for funding was withdrawn or the recipients were rejected following extended due diligence� After taking this into account, a balance of £16,182 will be carried forward to fund grants, extremely modest running costs and a provision to maintain a small reserve (see below)�

There are a number of colleague-enabled fundraising events planned; the Pennies contributions dropped slightly in 2023, but the commitment from Hendy Group Ltd remains consistent for 2024� With this continued income and the reserves brought forward, the trustees of Hendy Foundation are confident that they will be able to increase their distribution of funds to those who need it most�

RESERVES POLICY

Hendy Foundation does not provide any services directly, neither does it have any material assets nor any significant outgoings� In addition, Hendy Foundation pays grants out of the cash it holds at the time a commitment is made� The expectation is that most grants will be made as one-off payments� In exceptional circumstances, grants may be made on an ongoing basis to a charity, an organisation or an individual that it supports� At the end of December 2023, there was one charity for which Hendy Foundation had committed to providing a grant of £500 on an annual basis for the foreseeable future�

Approved by trustees and signed on their behalf�

Rebecca Hendy, Chair 7 October 2024

26 | Hendy Foundation Registered in England 1180518

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF HENDY FOUNDATION

I report to the trustees on my examination of the accounts of Hendy Foundation (“the charity”) for the period ending 31 December 2023�

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’)�

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act�

INDEPENDENT EXAMINER’S STATEMENT

I have completed my examination� I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached�

Jason Foxwell FCCA FCIE

independent-examiner�net, 39 Enfield Road, Poole BH15 3LJ

Date: 7 October 2024

Annual report and financial review 2023 | 27

RECEIPTS AND PAYMENT ACCOUNT AS OF 31 DECEMBER 2023

RECEIPTS AND PAYMENT ACCOUNT AS OF 31 DECEMBER 2023 31/12/22
RECEIPTS Unrestricted Restricted Total
Total
Hendy Group 50,000 - 50,000
53,039
Pennies donations 13,454 - 13,454
14,836
People’s fundraising 13,316 - 13,316
11,488
Gift Aid claims 1,881 - 1,881
-
Other donations 28,163 860 29,023
7,719
PAYMENTS 106,814 860 107,674
87,082
Grants paid 61,153 3,990 65,143
97,496
Sponsorship costs 2,458 - 2,458
900
Administration costs 402 - 402
433
64,013 3,990 68,003
98,829
NET INCOME 42,801 -3,130 39,671
-11,747

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STATEMENT OF ASSETS AND LIABILITIES AS OF 31 DECEMBER 2023 31/12/22
CURRENT ASSETS
Bank current account 58,302�89 - 18,631
58,302.89 - 18,631
CURRENT LIABILITIES
Grants unpaid 50,179�98 - 7,045
50,179.98 - 7,045
NET CURRENT ASSETS - 8,122.91 11,586
AVAILABLE FUNDS
Unrestricted funds 6,122�91 - 9,586
Restricted funds - - -
Designated funds 2,000�00 - 2,000�00
8,122.91 11,586
SIGNATURE Rebecca Hendy, Chair of Trustees SIGNATURE Christine Drew, Treasurer
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hendyfoundation�org

Hendy Foundation Registered Charity in England Number1180518, School Lane, Chandler’s Ford, Eastleigh, Hampshire SO53 4DG