Charlty Règlstratl¢n No. 1183715 The Yusuf & Farida Hamied Foundation Audited Financial Statements For the year ended 31 December 2023 The Yusuf & Farida Hamied Foundation Contents P89• Chodty inlomatbn Tru8lees' report Slalemgnl of Irust8es' responslbilWe8 Independent audllof'8 Teport ststemenl of flnancial a¢tlYitks Slaternenl of ffnanclal po8lllon Stslement of Gash Ikiws io Notes to Ihe finandal B18ternents The Yusuf & Farida Hamied Foundation Charlty Information Trustees Dr Y.K. Hamied F. Hamied P.A. Robertson A. Sexton Charity number 1183715 Audltor Ward Wlllams Charte¥ed Accounlanls St8luloryAudlior Belgrave House 3943 Monument Hlll ybridge Surrey KT13 8RN Accountants Dlxcart Inlefn8llonal Limlted Chartered Accwnlanl Dixcart House Addle$lone Road Brmjrne Bu8lne$$ Park Addlestone SuNey KTIS 2LE 8anknrs Barclay8 PIC 25 Circular Road Oouglas 181e ol Man IM1 IAD The Yusuf & Farida Hamied Foundation Trustees, Report For the year ended 31 Decembor 2023 The IruJtee8 presonl their annual report and finonoal Staterrwits for the year ended 31 December 2023. The flnan¢l81 statements have bw Prepared in accofdan¢8 wilh the acoounling policies sel uul in note 2 to the financial stalements 8nd wmply with the Fwndolion's governing document. the charl￿.eS Act 2011 and AGcounUng ond Reportlng by Charities.. Statement of Recommended Pr8CtSce applkable lo charilles preparlng their 8ccounl8 in 8ccordBnce wilh the Flnancial Reportlng Slandwd appilcable In the UK 8nd Republlc of Ireland IFRS 1021 leffe¢tive l January 20191.. Oble¢tlv•s and actiylties The Fwndalton's obj¢cllves are.. the advancement of educallon., the rellef of slckne$8 and the preservallon of good ho811h', the prevenllon or relief of poverty., ihe advancement of the arts., the promotion for the benefit of the publlc of the consÉrv8llon. protedion and Improvement ol the physical and nalurd envi¥onment and to advance Ihe edUCa￿on of the publlc In such matters. The poliaes adopted In furtheran¢e of these objectlves are retaining ongolng di81ogue8 With organi88tlons and InslitulSon8 Ihat would b¢ able lo deploy receipi of donatsons In Such a way a8 ￿ further Ihese obl*ctives. Thwe has be$n no change In knese durin9 the year. The Foundation has been established molnty lo h*lp to educalg indivlduals about health Is8ue$ and prevent slckness. primarily Impading people In Ibe developing worfd. The Foundallon wil achieve this by providlng donalion¥ and fundlng to laboratories 8nd academlc Institutions. as well as to prolecls 8UPPOrtlng global health through knowledge. The Iru8teeg have pald due regord to guIdon￿ls5ued ty Ihe Ch8rity Comml8ston in deckthng what activities th¢ Foundation shoyld undertake. The F¢undatlon iiself doe8 not cwry oul direct odviliès. bul rather m8kes fundlng 8vallable to tho38 who support fts oblectlves. The Found8tlon remolns ¢on¢emed al the qualily ol the appIl￿tIonS and reportlng from ￿08e organisations to which 9r8nls are awarded. To promote the best uso of Ils resources and lo mitigate the Tlsk of fraud. of which theA is no evldence, the Foundallon continue8 lo review and update ts granl maklng processes. Achlevements and p8rformance The Foundalion is dellghled lo have madg donations lo a number ol educallon81 instiluuons In order for them to make support available lo those $ludying 8nd promoting glob81 health into the luture. Flnanclal r•vl•w There Is no fomial resefves policy in place. The trustees are of the oplnlon that no ongclng commitments are in place that would infringo the Found8tion's ablllty lo meet [15 obllgalions. The maln r$asons belng that ils fixed expenses are low and n¢ longer lem donations are ¢ammlited lo wiltr￿J1 support from the prfmary benefador. Al the year end there were reseNes 01 £67Q,99512022- £310,30e}- The resulls sh¢JV sufflaent levels el dwalk)ns recelved io Gonlinue and further the ¢harltaOle purposes. The iYu8tees have asse8sed the malor risks lo which the Foundation Is exposed, arrfj afe 8allsfigd that $y8tems 8rp in place to mittgale exposure lo tho masor risks. Con8iderallon of the ri8k register and the mltigalivn of risk Is 8 siandlro item on the agenda ol t￿ Board. The Yusuf & Farida Hamied Foundation Trustees, Report (Continued) For the year ended 31 December 2023 Flnanclal fevlew (contlnuedl The Foundation plans lo continue 118 efforts with ail of 118 objedives Includlng conllnulng sypport wllh gl¢lJal èfforts against the spread ol widespread disease. The plans for the fvlure gre to ¢onllnug lo seek approprlots causes In ling Wth the Foundation'5 purp08es. particularly in view of the euw¢nt global heath CTIsis. bul also 10 8UPP)rt thger temi prole¢ts which could help he8Nhcare lor generatlon8. structur•, govgrnanco and managoment The Foundallon 18 a ¢harit8ble lound8tlon and Is govomed by the constitution dated 21 May 2019. Th foundallon wa3 r8glstered as a Gharfty withsn ihe moaning of the Charities Act 2011 wlh effect from 4 June 2019, Te9isI&Ted no.. 1183715. The tru8￿8S who seNed dvdng Ihe year and up lo the dale of signature ollhe flnenclal slaternént5 were: Dr Y.K. Hami8d F. Hamled P.A. Robertson A. Sexlon None of the Iruslees hav8 any benefldal Intsresl In tha Foundation. Ml of the trustees are mernbers ol the Found8ll¢n and there is no requirement for the trustees to make any c¢nldbution In the event of a winding up. The trustees adminlster Ihe Foundallon through a board comprising all Ifustees wh￿h lakes and Tewiews dl rnojor decl8lons, induding deciding on the approval of projects and the don8tlon of funds. The board also review8 the stra14gy, operati¢ns and rlsk management of the Foundallon gnd ensures that decisions conlorm to the oblecl1￿. New Irustaes undergo a personall8ed programme ol indudion. TNdees are reqLdr8d lo #cqualnt Ihems8lves iegularly wllh the publi¢allon8 of the Cherlty Commis8ioneT8. Trustees are entitled to clalm expenses for attendance at meelings ol the Bo8Td ol Trustees and such activllles as they undertake in representing lh8 Foundallon. No trustse is paid lor Ihelr duties as a Iruslee. Twstees are requlred to declare conflicts of Interest al appointment. and any such Interests are revlewed by Ihe board on an ongolng basls. Th* Iru8lee8 are salisfled th8t the relatlon8hip wllh the primary benefactors does not Impact on the inlegrlty ol the Found8ti0n. The tnJstee$' rewt was approved by the Board of Trustees. obertso Trustee D8ted'. ... The Yusuf & Farida Hamied Foundation ststement Of Trustees, Responslbllitias For the year ended 31 December 2023 The InJst•es are responsible for prep8ring the Truslee$' Report and Ihe financlal 8lalemenls in accordance wlh applicable Igw ond United Klngdom Accounllng Slandat(Is Iunlted Kingdom Genefally Accepted Accounting Pr8clice}. The18w applicable to ¢hsrltie$ In Engl8nd Ènd Waleg reqLiires the Irustees to p￿pare flnancial 8latsmenl3 for each finanaal year which give a true and fair view ol Iha state of affairs of the Foundallon and of the incoming resources nd application ol resources ot the Ff)undalion for that yeaf. In preparlng these financld stat8menls, the Iruslges are rèquired to.. - select sultable accounting pcllcies and Ihen appty them con6i8tentty', - obserye the methods and prfnclplos In ihe Charitks SORP. - make judgements and estimates that are reasonab￿ and PTudent'. . state whether appllcable occountlng standards have been followed, BU￿¢1 to rn￿8￿31 dep8rtUTe8 dlsclowd and explained in the flnancial Stolements., and - prep8re the financial stslement8 gn the gDing concem basi5 unless ft Is Inappropd81e th presum8 that the charfty wlll continue in operatlon. The trustees are responsible lor keeping suffithenl accounting recofds that dlsdose with rÈa80n8ble accuracy al ony time the finandal posi￿ort of the Foundallon and enable them lo ensure that the financl81 gtalemenls comply wlth the Charille$ Act 2011, the Charity (Accounts and Reports) RegUla￿onS 2006 and the providons of the tru81 deed. Théy are al80 responsible for 8af6gu8rding Ihe assets ol the Foundation and hence for taking rg850n8ble step8 for the preventlon and delectlon of fraud and other lrregul8ri￿es. The Yusuf & Farida Hamled Foundation Independent Audltor's Report To The Trustees Of The Yusuf & Farida Hamied Foundation Oplnlon We have audit•d the financial $lalemenl8 of The Yusuf & Farfd8 Hamied Foundallon Ithe'Foundatlon'} for the year ended 31 December 2023 whSch Comprise thè slatemenl ol finenclal a¢iivllles, the statement of finan¢lal pO￿tIon, tha sl8temenl of cash ftows and the notes to the financlal slalemenls. InGludlng a summary ol signiflc8nl 8ccountlro pollcie8. Tho Ilnancial ￿pOrting Iramework Ihal has been applied in their prepafallon is appll¢8ble law and United Klngdom Accounting Standards. Including FRS 102 The Financi81 Reporting Sland8ffJ appllcab18 in the UK and Republ￿ of Irgland (Unitad Kingdom Generally Accepted Accounlng Practi￿1. In our opinion. Ihe flnancial slalements-. givg a tnje and fair view of the glale ol the Charity's affairs as at 31 December 2023 and d its Incoming resources and applicallon of re80ur¢e8 induding its income and expendiluTe account, tor Ihe ye8r then 8nded', have been proF4rfy prepared In accordance wllh Unit¢d Kingdom Generally Accepted Accounllng Practicx.. ar have been prepared in a¢cordance with the requlrernents of the Chadlies Act 2011. Basls lor oplnlon We conducted our audlt in accordarKe with Intemalional Siandards on Audillng (UK) IISAS (UK)) and 8ppiIGabl8 low. Our responsibilities under those standard8 are further descrlbed in the Audltors r98ponsibillll8s for the audit ol 1178 Ilnand81 slalemenls secllon ol our report. W¢ are indep¢n¢Jent of ihe Foundation in a¢cordarKe w41h the ethlcal requirernenls that are relevanl to our audit ot the flnancial statements in Ihe UK, Including the FRC's Elhi¢al Sland8rd, ond we havé bjifilled our other elbic81 respon8ibilities In 8ccord8nce with these requiremen15. We belleve that the audit evidence we hovè obtainéd is sufflcient and appropriate lo provide a b8S18 for our oplnion. Concluslons r•latlng to golng concgfn In auditing the Itnancial 8tslements, we havo concluded that the IN8tee$' use ol the golng concefft ba816 01 8KCOLmtlng in the preparation ol the finandal slalemenls Is appioprlmte. Based on the work we have perfomed, W9 have not Ideniified any materld uncertalntle8 relating to events or condlllons that. individually or collecilvely, may cast signific8nl doubt on the Founddllon'$ abillty to continue as o 90ing concem for 8 period ol at least Iwelve months from when the flnanci81 s¢atemen15 are authorlsed for is8UO. Our responsibilliles and the re5ponslbililies of the truslees with Te8ped to golng concem are deS￿bad in the relevonl aeotlons of Ihl3 report. other Infomiatlon The other Informallcffj comprises the infomialion Included in the 8nnu81 report olher Ihan the ￿na￿la1 s181emenls 8nd our audilorf$ report Ihereon. The Irustee8 ale responslblg for the other infomation conklne¢J wSthin the annual T4POrt. Our opinion on the financlal 8tstements does not ￿Ver Ihe other Inlormation and we do not express ary fom ol as$uran¢e condusion Ihereon. In connection wsth our audit ol the fflnanoal statements, our responsSbllity is to read the other inlomia1l￿ 8nd, in doing so. consider whelher the other inlormolion is materlally i￿OnsI$lent wlih the financlal statements or our knowledg$ oblained in the cOL￿Se of the 8udil. or otherN18e appears to be materi81ty m18Staled. If we l¢Jentify such malerlal in¢onsi$lencie5 or apperenl rnaterial m15s1alements. we are requlred lo determlne whether INS gives rise lo a material mlsstatement In the flnancial ylalèmen15 themselve8. If, based on the work we have perforned, we condude Ihal there Is a material mis8lalemonl of th18 Qther information. wfy are required lo report that lacl. have nothing lo report In this regdrd. The Yusuf & Farida Hamied Foundation IndependentAuditor's Report (Continued) To The Trustees Of The Yusuf & Farida Hamied Foundation Matters on which we arn r•qulr•d to roport by gxceptlon We have nothing io report Sn r¢speci of the following rnatlers in re1811on to whlch tre Charlllos IAc¢ounls and Reports) Regulations 2008 require us lo report ￿ you if, in our oplnion: the infomatlon given in the ftnanclal 8talgmenly is incon81stent in any Mate￿91 respect wth the Iru$teeg' report.. or 8uffident accounllng record¥ have not been kept. or the financial slatemenls are not in agreement with the 8￿cUntIng record¥'. or Wo have not recoived all the Inlomatlon and exp18natlons we réquire lor Our audll. Respon¥lbllltl•s of trustees As explained more fully In the ststement of trustees, wsponsibllilies, the trusleos 8re respon81ble for th& preparation of thè financial slalemenl8 and for being 88tisfled that they givo a true and fgiT vlew, ond for such intem81 control as the ITuslees delemlne is necessary lo &na￿e the preparation of financAal statements that are free frorrt rn8lerf81 misstslement, whethèr due lo fraud ￿ erTOr. In preparing Ihe ftnandal statements, the truBtee¥ are re8ponslble for assesslng the Foundallon'¥ ablllty lo continue as a going wn¢ern, disclosing, os applkable, matters related lo golng con¢em and using the going concem bg$is of aceounllng unless the trustees oilhor intend lo ¢e8se operatlons, or have no re811811c alternative but to do $0. Audltovs responsiblllll¢s for the audit of the IlnaTrclo1 Statemonts We have been appointÈd as audllor under se¢tkJn 144 of the Ch8rf1198 Act 2011 and report In a¢cordanco wth regulaiion$ made ur¢der seclion 154 of thatAGt. Our oblectlves are lo obtaln reasonable a8surance aboui whether the financial Statements as 8 whde are froe from material mi8Statemenl, whether ￿e to fr¥ud QT error, and 10 15$ue an audltols wport that Includes our oplnion. R$asonable assurance is 8 high level of assurance tyul is not a gu8ranlee that an audit eonducled in attofd8nco Ih ISAS IUKI will always delecl a m8terfal m165tatement when il oxists. Ml3stal$ment5 can arS$e from fraud or error and are consldered materi81 if. Indlvidually or in ￿e aggregate. they could reasonably be expected to Infiuenee the economlc decisions of U8&T8 taken on the basis ol thes$ fjnon¢lal statements. Irregularlties, induthng fraud. are Instsncos of non*c¢mplSance wlh laws and regulations. We design procedure8 In line with our responsibilllie$, outlined above. lo delecl material ml8slalemenls In résP¢Ct of Irregularllies, including fraud. The extent lo which our proc¢dures are Capoble of deleding irregularities, Indudlng fraud, 18 detalled below. We obtained an underslandlng of lh¥ legal and regulatory Iramewoiks appllcabl8 lo IM thallty and tho s•ctor In whkh Ih¢y operate. We delermlnefj that the foll¢Jwing were most signifl¢ant'. th¢ Charilles Act 2011. We obtained an understandlng ol how the charity Is complying wth those legal and Tegu1810ry framew¢rk8 by making Inquirias of the monagemenl of the Gharily. We corroboraled our inquiries through our revkn of correspondence durfng our audit work. We assessed Ihe sus¢eptlbillty of the charity's ffnanclal slatsm•nls lo rnalerial mls8latement, in¢ludin9 how fraud mlght occur. Audit procedures perforned induded,. idenlifytng and as8es$ing the de$lgn effectiveness of conlrolB man4emonl has In place lo prgvent and detect fraud., underslandlng how those charged wlh governanc8 con31dered and addre88ed the polentl81 for override of contro15 or other Inappropriale influence over the flnanclal r¥porting pio¢ess,' challenglng 8ssumplions and judgements m8de by management in its significant accountlng eslimoles., idenllfying and testing lournal tsnlries, In parlI¢l￿ar any Journal entrtes p¢slpd with unusual account ¢ombinalion5,' and 888es8lng Ihe 8xlenl of compliance with ltte relevanl law8 and regulations. The Yusuf & Farlda Hamied Foundation IndependentAudltor's Report (Continued) To The Trustees Of The Yusuf & Farlda Hamied Foundation Becav60 of the Inh9rent Ilmitatlons ol an 8udil, there18 6 rl$k Ihal we wlll not delocl all IrregUlari￿es, kncludlng Ihose leading lo a rnalerial mlsstatemenl in the finan¢lo1 slalemenls or non-compllance with regulallon. This risk increases the more that compllance with a law or regulatlon 13 removed from the events and Iransactlons reflected In the finanryal slalemenls, as we will be less Ilkely Ic become aware of instances ol nonm operatlng actlvltles Ca8h generated fronvlabsorbed by) operations 361.281 1734,5011 InvÈstlng octlvltles Purchase ol intsngible assets Not c¥8tt us¢d In In¥ostlng actlvltl05 1200,000) {200.000) Net In¢re8selld•creas•} In cash and ¢a8b •qulval•nts Cash and ￿s￿ equlvalenls al b89inning of year 161.281 (734,5011 1.057.415 322,914 322,914 Cagh And cash oqulvalents 4t end of ye•r 484,195 The noles on p8ge$ 1110 16 ftifm part ol these Ilnancial slalements. 10- The Yusuf & Farida Hamied Foundation Notes To The Flnancial Ststements For the year ended 31 December 2023 Charlty Informatlon The Yusuf & Farida Hamied Foundation Is a chartiabl& foundation and18 governed by the conslllulion doted 21 May 2019. The foundallon was registered as a charity wilbin tho meanlng of Ime Charilies Ad 2011 wllh trffect from 4 June 2019, registered no.. 1183715. Ac¢ountlng polkles 2,1 Accountlng ¢onventlon The fin8ncl81 statements have been prepared In accordance vAih th• Foundatlon'8 governlng document. the Chadlles Act 2011 and "Accounting and R8POrtlng by Ch8riUes'. Statement of Recommended Pradce applicable lo chaTilles preparing Ihdr accounts in ac¢ordonce with the Nnanc181 Repo￿ng Standard appllcable In Ihe UK and Republic of Irelond IFRS 102) leffe¢tlvo 1 January 2019}" The Foundallon is a Publlc Benefft Enllty as defingd by FRS 102. The fina￿19191at8rn8n1Y have d8Pgrtad from tho Charities (Accounts and Reports) Regulollon8 2008 only to the exlenl ￿quIred to provide a true and falr view. Thls departure has Involved following the Slatemenl ol Recomrnended Practice fow chgriiies applying FRS 102 rather than Ihe version of the Slatamenl ol Recomfflend¢d Prartice which is referred to In Ihe RegulatiOThS but which has slnce been wlthdrawn. The financlal statements aTe prepared tn 8larllng. whlch Is the fvndlonal currency of the Foundation. Monetary amounts in thes8 financl81 statements are rounded lo the ne8re$t £. The fThnclal siatements hove been preparetj under the hlstodcal cost wivenllon. The prlncipal ac¢ountlng poll￿88 adopted gre 881 out bd¢y*Y. 2.2 Golng con¢orn At time ol approvln9 Ihe finanei81 statements, Iho Irusloes h8v¢ a ressonable expectallon that the Foundation h8s adequate f¢sources lo coniinue irt operattonal e￿StenCe ft)r the foreseeable lulure. Thus the Iiuslees contlnue to ¥dopt tre golng ¢oncein b￿8 of accountlng In preparing the fin8ncl81 stalernents. 2.3 Cknarltable funds Unrestricted fvnds are av8ilable for use at the di8¢Tellon of the IruBlge8 In furth¥ranGe of their cherfiabio Ob￿ctIves. 14 In¢ome In¢ome Is r8cognised Ythen th¢ Foundation is leg8lly enlltied to it after any perfomance conditlons have been met, the emounts con be measured rellably, and il IB probable that Income vhll be recelved. Cash don8tlon8 are recognised on recelpl. Othor d¢naUon8 are recognlsed once the Foundation has been notilied of the d￿stIOn. 2.5 Expendltur• Expenditure is recogni8ed once there 18 a legol or construdlve obligation lo Ir8n6fer e¢tsn¢Jnic beneffl lo third party, it is probable Ih¥l a tT8nsfer ol economic benoffts wlll be requlred In sdttemonl, and the amount ol the obllgation can be measured r811gbly. Other than prolesslonal expenditufe (which Includes VAT) and for81gn exthange diff•rences arlslng on relTanslalion. grants contlnue to be p8ld as 8ppropria18 auses. wlthin line of the Foundation's purpose8. are presented. 2.6 Intanglble lixed assets oth•r than goodwlll Intangible as3ets acqulred separately from 8 business ar* recognlsed at cost and are subsequently measured at cost l¥ss a¢cumulaled amortlsallcffl ond accumulated Impaifmenl1098e8. •• 11 The Yusuf & Farida Hamied Foundation Notes To The Financlal Ststements (Continued) For the year ended 31 December 2023 Icontlnued) Accountlng poll¢le8 Amortisallon Is Tecognlsed so as lo wrile olf thè c08t or vgluatlon of assets l¥$s their resldualvaiu8s over their U8eful Ilves on Ihe lollowlny bdsl$'. M¢dia Pr¢ducUon 100%. once pald in full 2.7 Impalm•nt of flxed assgts At each reporting end dale, Ihe Foundatlon reviews the Carrying amounts of ts langible and intanglble oS88ts d&lemiine whether Ihere Is any indl¢8tlcJn that Ihosa as59ts have suffered an impairment loss. If any such Indicallofi exists, the recoverable amounl ot Ihg asset Is estimated In ordw lo determlne Ihe extent of Ihe Impairment loss (11 any). 2.8 Cash and cash equlvalents Cash and cash equivalents indude cash in hand, dEposlts held at call banks and oiher short-torm Ilquld inve$tmenl$ wlth origin81 maturlties of three monlhs or le88. 2.9 Flnanclal In8trumonts The Fowddllon ha$ eleded to apply Ihg provlson8 of Secbon 11 '8asic Flnancial In$lrument8' 8nd Sedion 12 'Olher Flnanclal Inslwments Is8ues' ot FRS 102 to 011 of ts financlol Instrurn8nts. 8asle flnanclal a$$8ts Basic financiBI 8$seis. which include debtors and cash and bgnk balances. 8re Inlll8lly rn¥a8ured 8t Iransacllon Prlce Sncbudlng Iransadlon costs and are subsequeniiy carried al amortised eosl using the effeGtSve Inlereat method unless the arrangement constitutes a Iln8ncing transactlon, where the Iransactlon 18 measured at the PT¥sent valu8 of ihe fuluie ￿CtIpt$ discounted at a mafkel rale of Interest. Flnancid a88els closslfled as recèivable wlhln one ye8r are not amortlsed. Baslc Ilnancial liabilltles Basic financ181118bilities, indudlng creditors a￿ Inlllaly measured al transaction prlce unlfjss Iho arrangement Conslliules a financing Iran68Ction, where the debl instrument 18 MeaSu￿d at the pr¢sent Value of the fulure pByments disccunted 91 a market rale of interest. Financi81 liabilities classified 8s payable wlthln one year are not amortlS8d. 2.10 Trxatlon The Foundallon Is exempt from laxatlon on its chartl8bl8 a¢tivltie$. 111 For•lgn exchange TTansaclions In currendes other than pounds sleiling are recorded al the rates of axch$nge prevalllng at the d8tes of the Iran8adions. At each ieportlng date. monelary assets and Ilabilitie$ that are denomSnated in lo￿1gn eurrenrA8S 8re retranS￿ted al the rates prevalling on the reportlng end dote. Galn$ and losses arising on translalbn in the pertod afe Included in the profil and1088 account. 12- The Yusuf & Farida Hamied Foundatlon Notes To The Flnancial Ststements (Continued) For the year ended 31 December 2023 Donatlons and legacles Unrnstricted Unrestrlctsd funds lunds 2023 2022 Don8lion8 fram Individuals I,630,7￿ 9.964.355 The Scur￿ of all donallon6 wa8 Dr and Mr8 Hamled. who donaled £1.830,790 (2022- £9.964,35S1 durlng Ihe year. Charftablo a¢tlvltles Chadtabl• Charltabl• Expendlture Expendlturn 2023 2022 49 22,878 (314.9511 21.998 Bank d)8rg0s Legal fees Exchange Igaln8)Aosse$ Audlt and accountancy 6,379 327 28.754 33.480 1270.0281 1.238.643 13.178,6C Gtant fundlng of acllvitleg {see note 5) 1,270,103 12.906.578 Grants payable Charltable Charltablo Expendltur• Exponditure 2023 2022 Gr8nts to instiluticns.. Cambridge Unlversily Thfy Royal Society Yusuf Hamied Programme for India Cambridge Children's Hos￿(81 Fundaclon Cudeca other 975.000 12,525,000 200.000 200,000 50,000 430,525 21,081 11.843 1,238,643 13.176.808 -13- The Yusuf & Farida Hamied Foundation Notes To The Flnancial Statements (Continued) For the year ended 31 December 2023 Support Costs Support Gov•rnonce costs costs 2023 Support Govemanco Costs 2022 Exchange L088e81lgalns) 327 327 (314,961) <314,951) 6,200 6.379 20.554 5,940 22,878 18,058 49 5,940 22,878 16,056 49 Audit fees Legal and profes8lon81 Accountancy fees Bank charge8 0,200 8,379 20,554 327 33,133 33.460 1314,9511 44.923 1270.0281 Governance c051s includes payments lo th¢ audllors of £8,200 (2022- £5.9401 for 8udlt fees. Trusts•5 None of the twslee8 lor any porson5 connected vAlh them) recdved any r8muneratlon or b8nefils from the Foundauon during the year ¢r the preceding yeor. Employees The Foundatlon had no employees during the year orlhe pr8cedin9 year. Tax#tlo The thafity is exefflpl frorn tax8tlon on il¥ adivlde8 t¢c8us8 all Its Income is applled for charitable purp080S. 10 Int•nglble flxed assets m￿18 Productlon Cost At 1 January 2023 Addltk>ns 200,000 2CQ.QOO Al 31 Dttemtser 2023 Amorttsatlon and Imp01mient At 1 January 2023 and 31 December 2023 C*rrylng amount Al 31 December 2023 200.000 At 31 December 2022 The Yusuf & Farida Hamied Foundation Notes To The Financlal Statements {Contlnued} For the year ended 31 December 2023 11 Credltors.. amounts tslllng duo wlthin one year 2023 2022 13.200 12.eco AccrualB and deferred Income 12 Unrestrfcted funds The unTe$trlcled lunds of the charlty comprlse the unexpended balances of donallons and grants wM¢h are not subject to spec￿lC condlllons by donoTS end grantors as lo how they m8y be used. These include deslgn8led funds whith have been set 8slde out ol unre8lrkted funds by the trustees for 8peafi¢ purpo￿$. Incomlng R8sourc9# At31 Tesourc•s expended December 2023 At l January 2023 1,630,790 11,270,103) 870,99S General fvnds 310,308 Prevlou¥ yoar: In¢omlng R?source# re$our¢e$ expended Al31 D¥cember 2022 At 1 Janu•ry 2022 9.964,3S5 (12,906,578) 310,308 General funds 3,252,531 13 Capltal commltmonts Amounts ¢￿tracted lor bjl not provlded in the financlal slaloment8'. 2023 2022 50.000 Acqui8illon of Intanglble as8ets 14 Relatgd party transaction• The source of 811 donations w88 Dr and Mrs H8mkd. who d¢natsd £1.630,790 {2022- £9.964.3551 during tho y$ar. Professional fees 01 £20.5S412022 . £16,058) were charged by Dixc8rt Intemalional Llmilod durlng the year. P.A. Robertson. one of the IIu8lee5 of the Found81ion, IB a Diredor of ￿x¢art Internallongl Limitsd. 1fj Anatysl¥ of ch8nges In net funds The Foundation had no m8lerfal debt durlng tho year. 15- The Yusuf & Farida Hamied Foundation Notes To The Financial Ststements (Continued) For the year ended 31 December 2023 2022 16 C48h genorated from operatlons 2023 360,687 (2,942,223) SU￿U&l(defiCfjt} for the year Movèmen15 in working C8FAlal'. Ilncre8selldecregse in debtor8 Incre88el(decreasel in credllors 2.242.289 (34.5671 Cash generated fromllabsorbed by) operatlons 361,281 1734,5011 16-