Docusign Envelope ID". 34448EIF48FD-4837-82F&C033532CFD33 REGISTERED CHARITY NUMBER.. 1189723 Flnanclal Statements for the year ènded 31 December 2024 for The Horselerry Foundadon DIH Halesowen Llmit Church Court stourbridge Road Halesowen B63 3Tt Docusign Enve1opÉ 10". 3444BE1F-8BFD-4837-82F8-C033532CFD33 The Horseferry Foundation Contents of the Financial Statements for the year ended 31 Decèmber 2024 Page Report of the Trustees Independent Examlnevs Report statement of Flnancial A¢tivilles Balance Sheet Notes to the Financial Ststements 6 to 10 Detalled Statement of Financial Activities li Docusign Envebpe ID.. 34448EIF-EBFDJ837-82F8-CD33532CF033 The Horseferry Foundatlon Report of the Trustees for the year ended 310￿mIEr 2024 The trustees present their report wlth the financlal statements of the charity for the year ended 31 December 2024. The trustees have adopted the proirislons ol Accounting and Reportlng by Charities.. Stslement of Recommended Practice appllcable to chariues preparing their accounts In accordan￿ wlth the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019}. OBJECTIVES AND AcfiviTIES Objectives and alms The objects of Th& Horseferry Foundatlon are to advance such charltable pu¥poses (according to the law of England and Wales) for the public benefit as the trustees see fit from time to time, in particular, but not limlted lo: {al the advan￿ment of ucation., and (bl the protecbon and conservatlon ol the en￿rOThMent, prlncipally through facilitating research Into reducing the amount of carbon dioxide and other toxin5 in the atllKJsphere ans sea (the. rg%ulL% of which are publicly dissemlrktedl. Publlc benefit When planning the activit(es the trustees have had regard to the Chartty Commlssitsn's guidan￿ on publlc benefit. ACHIEVEMENTS AND PERFORMANCE Charitable activitles Donations re￿iVed tolalled £2,159 and donations made to charltsble foundations arnounted to £NS1. The general fund stood t £3,023,365. FINANCIAL REVIEW Reserves policv The reserves policy Is to malntBln sufficlent resewes to ensure that The Horselerry Foundation Is able to meet its liabilities and obligations. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charlty is controlled by its governing document, its Constitution as a charitable Incorpyxated oFganlsatiDn, t￿ether wlth any Subsequent re501ubons. Recruitment and apptslntment of new trustees The members of the charitable incorwrated organisatlon (CIO) may, at any lime, admlt addittonal mernbers by resolution or a written notlce slgned by all the members of the CIO adjressed to the charity trustee5. Risk management The trustees have è duty to MJenttfy and rewew the risks to whkh the charfty Is exposed and to ensure appropriate controls are in place to provlde reasonable assurance against fraud and ertor. The tW5tees have assessed the risks to whlch the Horseferry FOundat￿n Is e%￿Se￿ and are satisfi& that the $￿tern5 in place are adequate tr> mitigate those risks that would threaten its long-term Sumval. The Ewstees are content that other risks should be ècccepted because the cost of mitigating them would LE unacceptsble. REFERENCE AND AOMINISTRATIVE DETAILS Reglstered Charity number 1189723 Prlnclpal addres$ Thlrd Floor 20 Old Bailey London EC4M 7AN Trustees S C L Gibbons Mis5 S Ll Mrs J Markovitz 8Drdenave Page I Docusign Envek)pe10". 3444bE1F-6BFD.4837-82F8-CD33532CFL)33 The Horselerry Foundation Report of the Trustees for the year ended 31 December 2024 REFERENCE AND ADMZNISTRATZVE DETAILS Independent Examiner DJH Halesowen Lirnited Church Court stourbridge Road Halesowen B63 3rr Approved by order ol the board of twstees on ......... . and signed on its behalf by.. $4WPF4aW144&,............................ S C L Gibbons - Trustee Page 2 0￿￿$19n Envdope ID.. 3444BE1F-6BFD-4B37-82F8£D33532CFD33 Independent Examinerfs Rewrt to the Trustee5 of The Horseferry Foundation Independent examiner's report to the trustees of Tlie Horseferry Foundation I report to the chority trustees on my examinadon of the accounts of The Horseferry Foundation Ilhe Trust) for the year ended 310ecember 2024. Re$ponslbllltles and basls of report the charlty trustees of the Trust you are responglble for the preparatlon of the accounts Sn accordance wth the requlrements of the Charitles Act 20111'the Act'l. I report ih respect of my examlnatlon of the Trusvs accounts carrled out under Section 145 of the Act and In carryfjng out mv examination I have followed all appllcable Dlrecdons glven by the ￿Tha￿ty Commission under Section 145151{bl of the Art. Independent examlner's statement I have cornpleted my examlnatior). I confirtn that no material mattÈis have come to my attention in connection with the examlnatlon gmng me cause to l)e.Ilp.vp that in any materlal respect.. accounting records were not kept in respect of the Trust as required by Section 130 01 the Act,. or the accounts do not accord wtih those records,. or the accounts do not comply with the applicable requlrements conceming the form and content of accounts set out In the Charities {Accounts and Reports) Regulations 2008 other than any iequlrement that the accounts give a true and fair vlew whlch Is not a matter considered as part ol an Independent exèmlnation. I have no concerns and have come across no other matters In connertTon with the examinatlon to which attention should be drawn in this report In order to enable a proper uiiderstanding of the accounts to be reached. Mark Howell The Insbtute of Chartered Accountants in England and Wales DJH Halesowen Llmlted Church Q)urt stourbrldge Road Halesowen B633 Date.. Page 3 Oocuslgn Envelopè ID." 34448EIF-88FD-4837-82F8-C033532CF033 The Horseferry Foundation Statement of FIna￿l31 Acthdles for the year ended 31 Decemb￿ 2024 2024 Unrp.stricted fund 2023 Total funds Notes XNCOME AND ENDOWMENTS FROM Donations and legacles 2,159 306,705 Charitable artivitie5 Consultancy LS,750 19,350 Investment income 38,641 14,811 Total 56,550 340,866 EXPENDITURE ON Charitable activities Grants and donations Admlnistration costs Governan￿ cosLg FinaKe costs 354,556 109,608 3,000 456 167,055 3,000 264 Totsl 170,319 467,620 Net gainslllosses) on InV￿tments 430,290 (244,547) INCOME/(EXPENDITURE) 316,521 (371,3011 RECONCILIATION OF FUNDS Total funds brought fon¥ard 2,706,844 3,078,145 TOTAL FUNDS CARRIED FORWARD 3,023,365 2,706,844 The notes form part of these finandal statements Page 4 Oocusign Envelope ID.. ￿44￿ElF-6BFD-I637-82F8-cDJJSS2¢FDJJ The HorsefeTry Fou[￿all0￿ Balance Sheet 31 Decernber 2024 2024 Unrestrlrted fund 2023 Ttstal funds Notes FIXED ASSETS Investments 2,361,012 1,937,658 CURRENT ASSETS Debtors Cash at bank 15,750 760,021 675,062 675,062 775,771 CREDITORS Amounts falllng due within one year 112,709) 16,5851 CURRENT ASSETS 662,353 769,186 TOTAL ASSETS LESS CURRENT LIABILITIES 3,023,365 2,706,844 ASSETS 3,023,365 2,706,844 FUNDS Unrestricted funds 3,023,365 2,706,844 TOTAL FUNDS 3,023,365 2,706,844 The flnanclal statenients were approved by the eoaTd of Trustee% and authorlsed for issue on and were signed on behalf by.. srollEdW. Obbs S C L Gibbons - Trustee The note5 form part of these finantfal stètements Page 5 DOcus￿n Envelape ID. 3444&E1F-68FO-4837-82F8-CD33532CFD3J The Hor*ferry Foundation Notes to the Financial 5￿tements for the year ended 31 December 2024 ACCOUNTING POLfciES Basis of preparing the ftnancial statements The financial statements ol the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Rewrbng by Charities.. Slatemant ol Recommended Practice applicable lo charities preparing their accounts In accordance wlth the Financial Repordng Standard applicable In the UK and Republic of Ireland IFRS 1021 {eflecthfe I lanuary 2019),, Fil￿ncIal Rewrting Standard 102 'The Flnancial Rewrilng Standard applicable in the UK and Republic of Ireland, hnd the Charities Act 2011. Th2 Inancial statements have been pre￿red under the historKal cost convention, with the exception of Investments which are Included at market value, as modified by the revaluation ol ￿rtaIn 85sets. Income All income is recognised in the Statement of Financial ActI￿tIEs once the charity has enb'tlement to the funds, it Is probable that the income will be received and the amount tan be measured rellably. Expenditure Liabilib"es are recognised as expendlture as won as there is a legal or constructive obligation committing the charity to that e¥p&nditure, it is probable that a trènsfer of economic benefits wlll be required in settternent and the amount of the obligation con be nieasured reliably. Expendlture Is accounted for on an accruals I￿SiS antj has been classified under headings that ag9regate all cost related to the category. whe￿ costs cannot be diredy attributed to particular headings they have been allocated to dctwities on a basls conslstent wlth the use of resources. Grants offered subject to condlljons which have not been rnet at the year end date are noted as a commitment but not accrued as expenditure. Taxation The charity is exempt from tsx on tts charitable acknvlues. Fund accoLEntlng Unrestricted fund5 can be used In accordance wlth the char¢rabl2 oblecbves èt the dlscretion of the trustees. Restricted funds can onw be used for ￿rtIcular restricted purwses within the objects of the charity. RestriLtions arisp whe.n specified by the