Charity number. 1187823
THE MAURICE HAThER FOUNDATION CIO
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

THE MAURICE HAThER FOUNDATION CIO
CONTENTS
Page
Reference and Administrative Details of the Charity. its Trustees and Advisers
Trustees, Report
Trustees, Responsibiilties Ststement
Independent Audltor's ReFX)rt on the Flnanclal Statements
ststement of Flnanclal Actlvltles
Balance Sheet
io
ststement of Cash FLOWS
li
Notes to the Financial Statements
12-27

THE MAURICE HAThER FOUNDATION CIO
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
P D Barciay
F U Furlotti
R M Hatter
Charity commission
number
1187823
Reglstered offlce
Onslow House
Onslow Street
Guildford
Surrey
GUI 4TL
Independent auditor
CLA Evelyn Partners Limited
Chartered Accountants
statutory Auditor
Onslow House
Onslow Street
Guildford
GUI 4TL
Bankers
Lloyds Banking Private Banking
3 City Park
The Droveway
Hove
East Sussex
BN3 7AU
C Hoare & Co
37 Fleet street
London
EC4P 4DO
Investment managers
J.P. Morgan Private Bar)k
390 Madison Avenue
Floor 29
New York
NY 10017
Canaccord Genuity Group Inc
88 Wood Street
London
EC2V 7QR
Lincoln Private Investment Office
32 Grosvenor Gardens
London
SWIW ODH
Page I

THE MAURICE HAThER FOUNDATION CIO
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
The Trust&s present their report and the accounts for the period ended 31 March 2024.
structure, govemance and management
The Maurice Hatter Foundation is a Charitable Incorporated Organisation Ithe CIO) and was registered with
the Charity Commission in England and Wales on 7 February 2020 under charity number 1187823. It is
governed by its constitution.
Tho Charity Is controlled by tho trustees who approve all donations and investment docisions. See note 22.
Retated Party Transactions, for details of related party relationships of the Charity.
Trustees
The Trustees who were appointed on incorporation and served during the period were.,
R M Hatter
F U Furlotti
P Barciay
Trustee appointmenL training and induction
In accordance with the Constitution. new Trustees are appointed by the continuing Trustees. When
appointing new Trustees, the existing Trustees will take account of the skills required by the Trustee Board.
New Trustee5 will bo provided with a copy of tho m05t recent accounts and the Constitution and will be
given further information regarding finance, governance and charitable objectives.
Prfnclpal rfsks and uncertalntles
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systenis
are in place to mitigate exposure to the major risks. The trustees consider that there are no significant risks
or uncertainties currently facing the Charity.
Objectives and activities
The objective of the Charity is to make distributions to various charitable causes at the discretion of the
Trustees. Distributions can take the form of grants or long or short term loans secured or unsecured at any
or no interest, The Trustees confirm that they have had regard to the Charity Commission's guidance on
public benefit.
Financial review
The gross income of the Charity in the period to 31 March 2024 was £6,250.7n (2023 - EI.221.1661 and the
net gain before gains on investments £3,250.942 (2023 - net loss £231.769). Grants of £2,335,195 (2023
S355.680) were made in the period to 31 March 2024. During the period the charity purchased a holding in
an unlisted investment for £5,967.12L
Page 2

THE MAURICE HAThER FOUNDATION CIO
TRUSTEES, REPORT ICONTINUEDI
FOR THE PERIOD ENDED 31 MARCH 2024
Achlevements and performance
The Charity has continued to make grants to deserving causes. The Charity is a￿0 receiving rental income
from its investment property at l Ely Place.
plans for the future
The continued allocation and distribution of income to nominated charities in accordance with the
Foundation's Investment Policy StatemenL
The Trustees are piloting a directly controlled and funded initiative to enable employment for people with
learning difficulties
Reserves poticy
The Trustees have a reserves policy which states that it is not the intention to accumutate reserves as it
currently has sufficient cash and liquid investments to be able to meet its grant commitments. This policy is
reviewed annually. The charity has total reserves of £96.2m 12023 - £84.9ml at the period end and free
reserves of £1.5m 12023- g6.7mJ. Free reserves are defined as net current assets less long term liabilities and
exclude fixed assets which are investments and investment property.
Investment p0￿CY
Tho Trustee5 continue to take a prudent approach to the investment of funds with a view to maximising the
income available for distribution. Investment income of £319.962 12023.. £257,340) has b*n recognised in
the year.
The Charity's freehold investment property at l Ely Place is included at the Trustees, estimate of market
value of £19.6m in the financial statements as at 31 March 2024.
Grant Making Poticy
The Charity aims to distribute income generated from investments and cash deposits to charitable causes
deemed worthy by the Trustees. The Trustees intend to focus the majority of their grant making activities on
supporting the following causes.. education and technology., medical research.. support for those with
disabilities., social welfare and social mobility and support for the Jewish faith, continuity and culture.
including the promotion of understanding between different faiths.
The Trustees review the focus of their grant making and the grant making policy on an annual basis but may
consider from time to time making grants for other charitable purposes.
Fundralslng Stsndards InfomiaUon
The Foundation does not use any professional fundraisers or commercial participators in the carrying out of
charitable activities.
Approved by order of the members of the board of trustees and signed on their behalf by..
R M Hatter
Dato..
2710112025
Page 3

THE MAURICE HAThER FOUNDATION CIO
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE PERIOD ENDED 31 MARCH 2024
The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable law and reguLations,
The law applicable lo charities in England and Wales requires the trustee5 to prepare financial statements
for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United
Kingdom Accounting Standards and applicable reguiationsl. Under that law the trustees must not approve
the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of
the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to..
select Suitable accounting policies and then apply them con515tently.
obsewe the methods and principles of the Charities SORP IFRS 1021.,
make judgements and accounting estimates that are reasonable and prudent".
state whether applicable accounting standards have b*n followed.. and
prepare the financial statemenls on the going concern basis unless it is inappropriate to presume that
the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which are sufficient to show and
explain the charity s transactions and disclose with reasonable accuracy at any time the financial position of
the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the
Charities (Accounts and Reports) Regulation5 2008 and the provisions of the trust deed. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities,
Page 4

THE MAURICE HAThER FOUNDATION CIO
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE MAURICE HAThER FOUNDATION CIO
Opinion
We have auditod the financial statement5 of The Maurice Hatter Foundation CIO (the 'Charity I for the period
ended 31 March 2024 which comprise the Ststement of Financial Activities, the Balance Sheet. the
Statement of Cash Flows ar)d the notes to the financial statements, including significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK
and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice).
In our opinion. the financial statements..
give a true and fair view of the state of the Charity s affairs as at 31 March 2024 and of its income and
expenditure for the period then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Charities Act 201L
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
Charity in accordance with the ethical requirements that are relevant to our audit of the financial stalemenis
in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriatè to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
8ased on the work we have performed. we have not identified any material uncertainties reLating to events
or conditions that, individually or collectively, may cast significant doubt on the Charity s ability to continue
as a going concern for a period of at least twelve months from when the financial statements are authorised
for issue.
Our responsibilities and the responsibilities of the truSt￿S with respect to going concern are described in
the rolevant sections of this roport,
Page 5

THE MAURICE HAThER FOUNDATION CIO
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE MAURICE HAThER FOUNDATION CIO
ICONTINUEDI
Other information
Tho other information comprises tho information included in the Tru5toes' Report and Financial Statements.
other than the financial statements and our auditor's report thereon. The trustees are responsible for the
other information cor)tained within the Trustees, Report and Financial Statements. Our opinion on the
financial statements does not cover the other information and, except to the extent otherwise explicitly
stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to
read the other information and, in doing so. consider whether the other information is materially inconslstent
with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to
be materially misstated. If we identify Such material inconsistencies or apparent material misstalement5. we
are required to determine whether this gives rise to a material misstatement in the financial statements
themselves. If, based on the work we have performed, we conclude that there is a material misstatement of
this other information. we are required to report that fact
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts
and Reports) ReguLations 2008 requires us to report to you if, in our opinion..
sufficient accounting records have not been kept., or
the information given in the financial statement5 is inconsistent in any material respect with the Trust&s'
Report., or
the financial statements aro not in agreement with the accounting rècords and., or
we have not received all the information and exptanations we require for our audit.
Responsibiknties of trustees
As explained more fully in the Statement of Trustees, Responsibilities set out on page 4, the trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true and
fair view, and for such internal control as the trustees determine is neCes￿rY to enable the preparation of
financial statements that aro free from material misstatomènt. whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity's ability lo
continue as a going concern, disclosing. as applicable, matters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations.
or have no realistic alternative but to do so.
Page 6

THE MAURICE HAThER FOUNDATION CIO
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE MAURICE HAThER FOUNDATION CIO
ICONTINUEDI
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of tho Charitiès Act 2011 and report in accordance
with the Act and relevant regutations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due lo fraud or error, and to issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit
conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate.
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements,
Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design
procedures in lino with our responsibilities. outlined above, to detect material misstatemen15 in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities.
including fraud is detailed below".
We obtained a general understanding of the Charity s legal and regulatory framework through enquiry of
management concerning.. their understanding of relevant laws and regulations., and the entity s policies and
procedures regarding compliance. We also drew on our existing understanding of the charity sector and its
regulation.
We understand that the Charity complies with the framework through..
Outsourcing accounts preparation and tax compliance to exLernal experts.
In the context of the audit. we considered those laws and regulations.. which determine the form and
content of the financial statements,. which are central to the Charity s ability to conduct its business., and
where failure to comply could result in material penalties We identified the following laws and regulations
as being of significance in the context of the Charity..
The Charities Act 2011 and FRS 102 in respect of the preparation and presentation of the financial
statements.
The senior statutory auditor led a discus510n Wlth all members of the engagement team regarding the
susceptibility of the entity's financial statements to material misstatement, including how fraud might occur,
Tho aroa5 identified in this disCUS5ion were..
Manipulation of the financial statements. via fraudulentjournal entries
The procedures we carried out to gain evidence in the above areas included..
Testing journal entries, focusing particularly on postings to unexpected or unusual accounts
Overall, the senior statutory auditor was satisfied that the engagement team collectively had the
appropriate competence and capabilities to identify or recognise irregularities. In particular. both tho senior
statutory auditor and the audit manager have a number of years, experience in auditing simiLar charities.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at.. viww.frc.org.uk/auditorsresponsibilities. This description forms part
of our auditor's report.
Page 7

THE MAURICE HAThER FOUNDATION CIO
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE MAURICE HAThER FOUNDATION CIO
ICONTINUEDI
Use of our report
This report is made solely to the Charity's members, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to
the Charity s members those matters we are required to state to them in an auditor's report and for no other
purpose, To the fullest extent permitted by Law. we do not accept or assume responsibility to anyone other
than the Charity and the Charity s members as a body. for our audit work. for this report. or for the opinions
we have formed.
LtM¢R
CLA Evelyn Partners Llmlted
Chartered Accountants
statutory Auditor
Onslow House
Onslow Street
Guildford
GUI 4TL
Date. 27 lanuary 2025
CLA Evelyn Partners Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for
appointment as auditor of a company under Section 1212 of the Companies Act 2006,
Page 8

THE MAURICE HAThER FOUNDATION CIO
STATEME￿ OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 31 MARCH 2024
Unrestiicted
funds
2024
Total
funds
2024
Total
rLJnds
2023
Note
Income from:
Donations and legacies
Investment income
509.552
5.854.731
ll13.5121
509.552
5.854.731
ll13.5121
(504,741)
1.565,471
160.436
other income
Totsl Income
6.250.7n
8.250.7n
1.221.166
Expendlture on:
Raising funds.. property and investment management
costs
686.929
2,312,900
686.929
2,312,900
949.522
503,413
Charitable activities
Totsl expendlture
2,999.829
2,999.829
1,452.935
Net income/lexpenditurel before net gains on
Investments
Nel gains on investments
3.250.942
8,081,542
3.250.942
8,081,542
1231,7691
889,189
Net Income and net movement In funds
ll.332.484
ll.332.484
657.420
R￿On¢lua￿0n of funds..
Total funds brought fomiard
Net movement in funds
84,853,273
ll.332.484
84,853,273
ll.332.484
84.195.853
657.420
Total fijnds carried forward
96,185,757
96,185,757
84.853,273
The notes on pages 12 to 27 form part of these financial statements.
Page g

THE MAURICE HAThER FOUNDATION CIO
REGISTERED NUMBER.. ll87823
BALANCE SHE
AS AT 31 MARCH 2024
31 Marth
2024
5 April
2023
Note
Fixed assets
Investments
Investment property
13
12
74.574.103
20.135.929
58,157,952
20.000,000
94.no,032
78,157.952
Current assets
Debtors
Cash at bank and in hand
14
590,681
3.476.926
1.315,736
8,078,053
4.067.607
9.393,789
Creditors.. amounts falling due within one
year
15
ll,425,6091
12.581.140)
Net current assets
2,641,998
6.812.649
Totsl assets less current b'abiiltles
97.352.030
84.970,601
Creditors." amounts falling due after more
than one year
16
11.166.273)
1117.328)
Total net assets
96.185.757
84,853,273
Charfty funds
Unrestricted funds
96.185.757
84.853.273
Total fijnds
96,185.757
84.853.273
The financial statements were approved and authorised for issue by the TrUSt￿S and signed on their behalf
by:
R M Hatter
Date. 2710112025
The notes on pages 12 to 27 form part of these financial statements.
Page 10

THE MAURICE HAThER FOUNDATION CIO
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 MARCH 2024
2024
2023
Note
Cash flows from operating activities
Net cash used in operating activities
18
2.141.478
(1,537.0201
Cash fLows from investing activities
Cash withdrawn from investment portfolio
Additions to investment property
Net investment income
2,635,530
(743,279)
1.082.298
19,n7,1541
349,133
(86.024)
475.407
Additions to investments
Net cash (used in)/provided by investing activities
16,742,605)
738,516
Change in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
14.601.127)
(798.504)
8.078.053
8,876,557
Cash and cash equivalents at the end of the peric
19
3.476.926
8,078,053
The notes on pages 12 to 27 form part of these financial statements
Page 11

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
General Informauon
The Maurice Hatter Foundation is a charitable incorporated organisation I'CIO'I, registered with the
Charity Commission in England and Wales with registered number 1187823. The registered address IS
Onslow House, Onslow Street. Guildford. Surrey, GUI 4Tll
On 5 April 2020 the assets, liabilities and activities of The Maurice Hatter Foundation, a charitable
trust with charity registration number 289119. were transferred to The Maurice Hatter Foundation CIO
which has the same trustees, beneficiaries and activities as the Trust. The merger wa5 registered on 7
September 2022.
Accounting poticies
21 Basls of preparation of finandal ststements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021-
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of IreLand IFRS 1021 leffective l January 20191 and section IA
of the Financial Reporting Standard applicable in the UK and Republic of Iretand IFRS 1021.
The Maurice Hatter Foundation CIO m*ts the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting p0￿CY.
22 Going con￿rn
The trustees have considered the medium term future of the CIO and its available cashflow and
have concluded that there is no material uncertainty relating to the CIO'S ability to continue as a
going concern.
Page 12

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Accountlng poUcSes Iconunuedl
23 Income recognitson
All income is recognisod once the Charity has entitlement to the income. it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Donations and legacies are recognised when the Foundation has entitlerment to the income.
receipt is probable and the amount can be quantified, In the event that a donation is subject to
conditions that require a level of performance before the Foundation is entitled to the funds. the
income is deferred and not recognised until either those conditions are fully met, or the
fulfilment of those condition5 is wholly within the control of the Foundation and it is probable that
those conditions will be fulfilled in the reporting period. Legacies are recognised at fair value.
Rental income is recognised net of VAT on an accruals basis in accordance with the relevant
rental agreements. Lease incentives Isuch as rent-free periods) have been allocated over the
entire loaso period.
Interest on funds held on deposlt is included when receivable and the amount can be measured
reliably by the Foundation.. this is normally upon notification of the interest paid or payable by the
bank, Dividends are recognised once the dividend has been declared and notification has been
received of the dividend due. This is normally upon notification by the investment advisor of the
dividend yield of the investment portfolio.
2.4 Expenditure recognition
Liabilities are recognised as soon as there is a legal or constructive ob￿gatIOn committing the
Foundation to the expenditure, it is probable that settlement will be required and the amount of
the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and
governance costs are allocated or apportioned to the applicable expenditure headings.
Donations payable are payments made to third parties in the furtherance of the charitable
objectives of the Foundation, In the case of an unconditional grant offer. this is accrued once the
recipient has been notified of the grant award. The notification gives the recipient a reasonable
expectation that they will receive the one-year or multi-year grant. Grants awards that are
subject to the recipient fulfilling performance conditions are only accrued when the recipient ha5
been notified of the grant and any remaining unfulfilled condition attaching to that grant is
outside of the control of the Foundation.
Accruals for grants are made when the intention to make a grant has b￿n communicated to the
recipient,
The accrual for a multi-year grant is recognised at its present value where settlement is due over
more than one year from the date of the award and there are no unfulfilled performance
conditions under the control of the Foundation that would permit the Foundation to avoid making
the future paymentlsl. The discount rate used is the average rate of investment yield in the year
in which the grant award is made. This discount rate is regarded by the trustees as providing the
most current available estimate of the opportunity cost of money reflecting the time value of
money to the Foundation.
Page 13

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Accountlng poUcSes Iconunuedl
25 Foreign currencies
Transactions denominated in a foreign currency are translated into sterling at the rato of
exchange ruling at the date of the transaction. At the balance sheet date. monetary assets and
liabilities denominated in foreigr) currency are translated at the rate ruling at that date. All
exchange differences are dealt with in the Statement of Financial Activities. Foreign exchange
transactions arise where the Foundation makes donations to overseas organisations and on
management of its treasury function.
2.6 Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
2.7 Allocation of SUPF)Ort and govemance costs
Support costs that are not directly attributable to Raising Funds and Charitable Activities are
apportioned on a 50..50 basis. Governance costs comprise all costs involving the public
accountability of the Foundation and its compliance with regulation and good practice.
Governance costs includè costs related to tho statutory audit and legal fees and are apportioned
to Raising Funds and Charitable Activities on a 50.'50 basis.
2￿ Charitable activitie
Costs of charitable activities include grants made and bank charges incurred in respect of grants
awarded.
2.9 Costs of ralslng funts
The costs of raising funds comprise the property management costs associated with the
leasehold property held for investment purposes. and support and governance costs,
210 Investrnent property
Investment properties, which are properties held to generate rental income and/or for capital
appreciation, are initially measured at cost (unless received by way of legacy in which case initial
recognition is at fair value) and subsequently at fair value, The Trustees have opted to revalue
annually to open market value, with the support of independent professional valuation advisers
at intervats of not more than three years. at the batance sheet date. Depreciation is not provided
in respect of the ir)vestment property.
Page 14

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Accountlng poUcSes Iconunuedl
2.11 Investments
Investments atso comprise cash investments in an investment managed portfolio whereby its
intention is to provide a long-term return to the foundation. Investments of this type are a form of
basic financial instrument and are initially recognised at their transaction valL4e and subsequently
measured at their fair value as at the batance sh*t date using the closing quoted market price.
The statement of financial activities includes the net gains and losses arising on revaluation and
disposals throughout the year. The Foundation does not acquire put options, derivatives or other
complex financial instruments. Investments also comprise cash held for purposes of investment
in future investment managed portfolios.
A controlling interest in an entity is held as an investment where its value to the Foundation is
through its fair value rather than as media through which the Foundation carries out business.
Such interests are not consolidated but are held at fair value with changes in fair value
recognised in tho Statement of Financial Activity. This is a departure from paragraph 36 of
Schedule I to the Regutations for the overriding purpose of the requirement to give a true and
fair view.
All gains and losses are taken to the Statement of Financial Activities as they arise, Realised gains
and losses on investments are calculated as the difference between sales proceeds and their
opening carrying value or their purchase value if acquired subsequent to the first day of the
financial year. Unrealised gains and Losses are calculated as the difference between the fair
value at the year end and their carrying value. Realised and unrealised investment gains and
losses are combined in the Statement of Financial Activities.
212 Flnanclal Instruments
Financial assets and financial liabilities are recognised in the Statement of Financial Position
when the Foundation becomes a party to tho contractual provisions of the instrument.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in
hand and at bank, short-term bank deposits with an original maturity of approximately three
months or less and bank overdrafts which are an integral part of the Foundation's cash
management.
Trade and other debtors and creditors are cLassified as basic financial instruments and measured
at initial recognition at transaction price. Debtors and creditors are subsequently measured at
amortised cost using the effective interest rate method. A provision is established when there is
objective evidence that the Foundation will not be able to collect all amounts due.
Page 15

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
CriticaL accounting estimates and areas of judgement
Estimates and judgements aro continually evaluated and aro based on historical oxperience and
other factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
Investment property
Preparation of the financial statements require5 significant judgement by the trustee5 regarding the
valuation of investment properties. Judgement is required in the assessment of rental yields.
especially in the current economic climate.
Unlisted investments
Estimation uncertainty exists around the valuation of the Charity s unlisted investments. The trustees
have particular knowledge of the investment held and have prepared a detailed model using an
enterprise value multiple applied to maintainable earnings as well as bringing in the value of Surplus
assets to estimate the valuation of this investment at the end of the period.
Income from donations and Legacies
Unrestricted
funds
2024
Total
fijnds
2024
Donations and legacies receivable
509,552
509.552
Unrestricted
[unds
2023
Total
[LJnds
2023
Legacies receivable
(504.741)
1504,741)
The negative legacies receivable in 2023 relate to investments being transferred into the Foundation
at a lower value than was accrued at 5 April 2022,
Page 16

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Investment Income
Unrestricted
funds
2024
Total
funds
2024
Rental income from property
Service charge income
Income from investment portfolio
Distribution from subsidiary
Interest receivable
1,145.863
1.145.863
289,231
289,231
319.962
319.962
4,000.000 4,000.c(o
99,675
99,675
5.854,731
5.854.731
Llnreslricted
runds
2023
Toto
funds
2023
Rental income from property
Service charge income
Income from investment portfolio
Interest receivable
909,057
313.421
257,340
85,653
909.057
313.421
257.340
85,653
1,565.471
1.565,471
Page 17

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Investment management costs
Unrestricted
funds
2024
Total
funds
2024
Portfolio fund management fees
Property management expenditure
Support costs
266,3g4
351,487
69,048
266.394
351,487
69.048
686.929
686.929
Unrestricted
[unds
2023
Total
[LJnds
2023
Portfolio fund management fees
Property management expenditure
Governance costs
Support COStS
119,504
550.141
75,409
204,468
119.504
550,141
75,409
204.468
949.522
949,522
Page 18

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Charftsbie activlties
Grants to
Institutlons
2024
Total
funds
2024
Grant funding of activities
Discount on future grant commitments
Loss on foreign currency transtation
Support costs
2.335.Ig5
1137.9761
9,567
106,114
2.335.195
1137,976)
9.567
106.114
2,312,900
2.312.900
Grants lo
Institutions
2023
rotal
runds
2023
Grant funding of activities
Discount on future grant commitments
Loss on foroign curroncy translation
355.680
355.680
49,467
98,266
49,467
98.266
503,413
503,413
Analysis of grants
31 March
2024
5 April
2023
Grants to institutions..
Education
1,345,255
795.940
Medical research
Social welfare and mobility
Support for those with disabilities
other charitable purpose
Support for the Jewish faith and community
International policy research
204.680
16.500
140.000
8,000
(18.500)
5.000
45.000
118.500
18,000
2,335,195
355.680
Page 19

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Analysls of grants Icontlnuedl
Details of grants payable are set out below..
31 March
2024
5 April
2023
Education
The University of Haifa UK
1,345,255
31 March
2024
5 April
2023
Social welfare and mobitity
other donations leach under £lOO.0001
16.500
31 March
2024
5 April
2023
Support for those with disabiiibes
Nightingale Hammerson
other donations leach under £lOO.0001
loo.000
40.000
45.000
140.000
31 March
2024
5 April
2023
Medical research
University College London Hospitals
8rain Tumour Charity
745.940
50.000
204.680
795.940
204.680
31 March
2024
5 April
2023
Other charitsble purposes
other donations leach under £lOO.0001
118.500
8,000
118.500
8.000
Page 20

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Analysls of grants Icontlnuedl
31 March
2024
5 April
2023
Support for the Jewlsh falth and communlty
Jewish Care
17.500
(50.000)
14.000
Community Security Trust
other donations leach under £lO.0001
.000
18.000
118.500)
OperaUng proflt
The operating profit is stated after charging..
31 March
2024
5 April
2023
Auditor's remuneration
28.184
19.775
The average monthly number of employees during the period was Nil 12023 - Nil),
During the period. there were transactions with trustees, details of this are disclosed in Note 22.
io.
Analysis of support costs
TotaL
support
Costs
2024
Goveman
Administrative costs
2024
2024
Trustee feos and expenses
Trustees, indemnity insurance
Administration costs
Accountancy fees
Audit fees
Legal and professional fees
8.337
18,302
3,917
26,639
3,917
12.339
25,650
28.184
78.434
12,33g
25,650
28.184
32.830
45.604
91.930
83.233
175.163
Page 21

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Totsl
support
Administrative Governance
2023
2023
2023
Trustee fees and expense5
Trustees. indemnity insurance
Administration costs
30,983
336
30.983
336
13,525
32.227
44,090
158.716
13,525
32.227
Accountancy fees
Audit f*s
Legal and professional fees
44.090
158.716
204.468
75.409
279,877
Trustees. remuneration and expenses
During the period. no Trust&s received any remuneration or other benefits (2023- £NiU.
During the period ended 31 March 2024. trustee expenses of £8.670 were reimbursed to one trustee
in respect of travel and accommodation expenses (2023- £9,738).
Page 22

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Investment property
Investment
property
Valuation
At 6 April 2023
Additions
Revaluation
20.000.000
1,279,208
11.143.279)
At 31 March 2024
20.135,929
Investment prowrty includes a freèhold office building with a doemed cost of £23.055.039 12023
£22,311,760), being the fair value of the property at the date it was received. via a legacy, by the
Charity plus subsequent capital expenditure.
During the period, a fLat in Israel was reclassified as an investment property from other debtors for
£535.929. This is included in the additions to investment properties above.
Fixed asset investments
Listed
Untisted
Investments Investments
Total
Cost or valuation
At 6 April 2023
Additions
38.651.952 19.506.000 58.157,952
4,069.962
5.967.121 10.037.083
.8n.14T)
12,87L147)
4.429.034
9.250.215
Disposals
Revaluations
4.821,181
At 31 March 2024
44.279,801 30.294.302 74,574.103
Net ￿ljok value
At 31 March 2024
44,279,801 30,294,302
74,574,103
At 5 April 2023
38,651.952 19.506.000
58,157.952
Page 23

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
13. Flxed asset Investments Icontlnued)
The following is a subsidiary of the Foundation, accounted for as an investment in accordance with
note 2.11. Accounts for this company are publically available..
Name
Registered off
Principal activity
Holding
l.M.O Precision Controls Limited The Interchange
Frobisher Way
Hatfield
Hertfordshire
ALIO 9TG
Manufacturing of
electronic and
electrical
engineering products
and systems
1007
14.
Debtors
31 March
2024
5 April
2023
Due wlthln one year
Trade debtors
other debtors
263.277
295.563
31,841
126.426
1,025.178
164.132
Prepayments and accrued income
590.681
1,315.736
Creditors.. Amounts falling due thin one year
31 March
2024
5 April
2023
Trade creditors
20.437
57,881
138,882
133.009
1,075,400
127,800
22.050
228.682
118,593
2,084.015
other taxation and social security
other creditors
Accruats and deferred income
Accrued grants payable to institutions
1.425,809
2.581,140
Page 24

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
16. Creditors.. Amounts falling due after more than one year
31 March
2024
5 April
2023
Accrued grants payable to institutions
1,166,273
117,328
17.
Grant commltments
New Balan￿ at
Balance at 6 Settled in commitments
31 March
April 2023
the year
Inote 71
2024
Grant commitments
2,201.343 12,294.8651
2.335,195
2.241.673
ReconclUaUon of net movement In fvnds to net cash flow from operatlng actlvltles
31 March
2024
5 April
2023
Net income for the period las per Statement of Financial Activities)
IL332.484
657.420
Adjustments for.
Non-cash donations
Net investment income
Gains on fixed asset invostmonts
19.519)
504,741
157.1791
(615,9491
18.106,8481
(925.405)
189.126
1115,721)
1106.5861 11,042,106J
Decrease/lincreasel in debtors
Increase/ldecreasel in creditors
Net cash provided by/lused inl operating activities
2.141.478
11,537.0201
19. Analysis of cash and cash equivalents
31 March
2024
5 April
2023
Cash in hand
3.746,926
8,078.053
Page 25

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
20. Analysis of changes In net debt
At 6 Aprll
2023 Cash flows
At 5 AprlL
2024
Cash at bank and in hand
8,078,053
14.601,12T) 3,476,926
21 Capital commitments
31 March
2024
5 April
2023
Contracted for but not provided in these financial statements
Purchase. construction or development of investment property
741,216
Page 26

THE MAURICE HAThER FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
22. Related paty tran￿tionS
During tho period, the Foundation rocoivod investment income of £4,000,000 from IMO Precision
contro￿ Limited. an investment in which the Foundation has a controlling interest and of which
Fausto Furlotti and Richard Hatter. trustees of the Foundation. are directors.
During the period. legal fees of £174.195 12023 - £121,27n were paid to Macfarianes LLP of which
Piers Barclay is a partner. and including £6.000 in respect of services provided by Mr Barclay. who is
a trustee of the Foundation. These amounts are included in Support costs in Note 10.
During the period, professional fees of £12.000 12023 - £16.0201 were paid to Epsilon Real Estate
Limited, an entity of which Richard Hatter. a trustee of the Foundation. is a person of significant
influence. This amount is included in property additions in note 12.
Tho Foundation a150 reimburged Richard Hatter, a trusteo of the Foundation. for exwnditure
totalling £8,67012023 - £9,738).
During the prior year, Richard Hatter was appointed as a trustee of The University of Haifa UK. The
Foundation paid S425,00012023 - $425.0001 to The University of Haifa UK in the period as part of a
multi-year grant commitment. There is a creditor of £1,345.256. which is $1.700.000, included in
Accrued grants payable to institutions, split as £336,314 due in less than one year and £1,008.942 due
after more than one year12023 - £341,009 or $425,000 due in less than one yearl
During the period. the Foundation paid $1.250,00012023.' $nill to World ORT Trust, of which Richard
Hatter is a Trustee. as part of a multi-year grant commitment. There is a creditor of £356,097. which is
>50,000. included in Accrued grants payable to institutions in note 15 12023 - £1.364.038 or
$1,700.0001
During the period, the Foundation acquired an investment from Fausto Furlotti. a trustee of the
Foundation. for £5,764.000.
During the period. Richard Hatter, a trustee. gifted to the Foundation a single share in an unlisted
investment. The value of this is considered to be less than £1,000.
There is considered to be no ultimate controlling party.
Page 27