ALTOR FOUNDATION Annual Report ## Table of Contents 01 Introduction 02 03 04 Our Story Our Grants Our Finances 05 06 Our Impact Our Thanks ## Introduction **The Altor Foundation has had another good year, with increasing donations, grant making and a growing endowment.** The first and most important achievement this year was the giving away of £62,500 to 16 different UK charities to support projects that align with our goals. This amount is growing year on year. We supported 5 charities with donations of £6,000 each of whom we support on an ongoing basis. The remaining charities were all proposed by the staff or clients of Altor Wealth and we supported them with donations of £2,000£5,000. We were pleased to be able to quickly give £10,000 early in the year to two international charities for emergency appeals. £5,000 was received from a client of Altor llp. We also received £1,798 from Cura and Regency Health, two third party vendors of Altor llp. We didn't give away our target of 50% of our income but at 39% we were a lot closer than 2023. We did invest our target of 50% of our income which saw our endowment grow to £265,515 by the end of the year. We remain on track to build the endowment to £1,000,000 before the end of our relationship with Altor Wealth (when the current partners likely retire in 14 years time). This should allow us to continue to make grants of £20,000-£30,000 per annum thereafter. Our endowment remains invested in the EQ Positive Impact All Equity fund. The fund fell in value in the year. The fund also delivers an environmental and social impact. For our investment alone this was measured as follows: - Avoided 48 tonnes of CO2 emissions. Provided 623,000 litres of clean water. Treated 2.2million litres of waste water. Recycled 6.3 tonnes of waste. - Installed 3.3KW of renewable energy. Generated 44MWh of renewable energy. Treated 31 patients. - Made 597 medical interventions. As a result we ended the year with a healthy cash reserve of £205,440, ready for 2025. Our total running costs in 2024 were £1,430. - Delivered 2,000 hours of education. Reached 25 people with preventative healthcare. - Gave 6 people in developing countries access to financial services. - Gave 2 people in developing countries access to mobile networks. ## Our story so far ## **Our Mission** ## **Our Purpose** Our mission is to improve lives and the world around us. We aim to do this by making grants to registered UK charities that we have assessed as having a large net impact. We deliberately keep our costs low and we look for charities that do likewise. We are looking for projects that: - Clean up our environment. Reduce waste. - Green the energy mix. Alleviate poverty. Improve young peoples health outcomes. We particularly favour projects that achieve two or more of these objectives at once. We exist to divert some of the profits of the financial services firm Altor Wealth. We want to support charities now and long into the future. To do this we aim to gift half of our income away each year and to invest the other half. The aim is to build a permanent endowment so that if/when our income stops from Altor Wealth, we will have enough in reserve to continue our giving programme indefinitely. Long-term endowment target: In addition we will consider supporting charities that the clients and/or staff of Altor Wealth Management personally support. We will do this by request where these charities do not conflict with our main mission. **----- Start of picture text -----**
£1M
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## Our 2024 grants |PROJECTS|DETAILS|WEBSITE| |---|---|---| ||Installing|| |Waterharvest -
£2,000|rainwater tanks on
Ugandan schools.|waterharvest.org| |Boaz - £6,000|Farm based project
near Winchester for|boazproject.co.uk| ||adults with learning|| ||difficulties.|| ||Microfinance training|| |We See Hope -
£6,000|for 360 families in
Uganda and setting up|weseehope.org.uk| ||local savings schemes|| |Money Charity -
£2,000|Free financial
education for UK
adults and Young|themoneycharity.org.uk| ||People.|| ||Small loans to poor|| |Microloan Foundation -|women in Sub-Saharan|microloanfoundation.| |£6,000|Africa to start a|org.uk| ||business|| |Young People with
Dementia - £2,000|Working with people
affected by young
onset dementia.|ypwd.info| ## Our Finances ## **Our finances are growing.** **Income + investing has stabilised and grants are up.** **£104k** **----- Start of picture text -----**
Invested for the future
in 2024.
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200000
150000
100000
50000
0
2018 2019 2020 2021 2022 2023 2024
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£162k
Donations received in
2024.
£62k
Grants paid out in
2024.
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As expected our income levelled off, as the Altor Wealth business reached maturity. Grant giving should increase next year as our grant making programme makes up some ground from past years. **44MWh £265,515** Our endowment generated 44 Mega Watt Invested in Social Impact Projects to hours of renewable energy in 2024, through deliver both growth and positive its social impact environmental & social impacts. investing. ## **44MWh** ## We thank you for your ongoing support of our programme The Trustees are grateful to the partners, employees and clients of Altor Wealth. Their continued work, support and engagement is crucial to the success of the Foundation. **Altor Foundation** Landmark House Station Road Hook RG27 9HA https://altorfoundation.com/ info@altorfoundation.com **Altor Foundation Charity Number 1187210** ## **Statement of Financial Activities and Balance Sheet** **for the period ended** **31 December 2024** ## **Independent Examiner's Report to The Altor Foundation** I report on the accounts of the Trust for the period ended 31 December 2024. ## **Respective responsibilites of trustees and examiner** As the charity trustees of the Trust, 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed 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 which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Act, or - the accounts do not accord with the accounting records. - the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Ellen Lefevre FCA CTA TEP 15 September 2025 Lefevres Chartered Accountants 24 Bell Lane Blackwater Camberley GU17 0NW Page 2 ## **Altor Foundation STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2024** |**Income and endowments from:**
Donations and legacies
Tax reclaimed on donations
Interest received
Dividends
Profit/(loss) on sale of investments
Other revenue
**Total income and endowments**
**Expenditure**
Expenditure on raising funds
Expenditure on Charitable Activities:
**Total Expenditure**
**Net income (expenditure)**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Fund**
**£**
119,798
42,580
232
2,599
2,692
-
167,901
1,430
62,500
63,930
**103,971**
103,971
340,774
444,745|**Restricted**
**Fund**
**£**
-
-
-
-
-
-
**-**
-
-
-|**Total Funds**
**2024**
**£**
119,798
42,580
232
2,599
2,692
-
167,901
1,430
62,500
63,930
**103,971**
-
103,971
340,774
444,745|**Total Funds**
**2023**
**£**
111,478
17,283
124
2,093
(6,385)
-| |---|---|---|---|---| |||||124,593| |||||1,024
53,001| |||||54,025| |||||**70,568**
-| |||||70,568
270,206| |||||340,774| Page 3 |**Altor Foundation**
**Balance Sheet**
**as at 31 December 2024**
**£**
**£**
**Fixed Assets**
Investments at cost
239,304
(market value £260,418, 2023: £244,041)
**Current Assets**
Cash at bank and in hand
205,440
205,440
**Total net assets**
444,745
**Funds**
Unrestricted fund
444,745
Restricted Fund
-
444,745
**as at 31 Dec 2024**|**£**
**£**
235,234
105,540
105,540
340,774
340,774
-
340,774
**as at 31 Dec 2023**|**£**
**£**
235,234
105,540
105,540
340,774
340,774
-
340,774
**as at 31 Dec 2023**| |---|---|---| |||340,774| |||340,774
-| |||340,774| These financial statements were approved by the Trustees and signed on their behalf by 15 September 2025 Matthew S Pitcher 15 September 2025 Lucinda A Pitcher Page 4