THE HADLEY PROJECTS FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST MARCH 2024
Charity Number 1191063

THE HADLEY PROJECTS FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
CONTENTS
PAGE
Trustees and professional advisers
Trustees, annual report
Independent auditors report
Statement of financial aGtivitses
ststement of financial position
10
Notes to the finan￿al Statements

Page 1
THE HADLEY PROJECTS FUND
TRUSTEES AND PROFESSIONAL ADVISERS
The Trustees
Philip Hulme
Jan Hulme
Tom Hulme
Kate Prideaux
Sophle Swift
Charity Offices
'Gladsmui
Hadley Common
Bamet
Herts.
EN5 5QE
Auditors
Newton & Gamer Limited
Chartered Accountants & Registered Auditors
Building 2
30 Friem Park
North Finchley
London. N12 9DA
Accountants
Cty Tax Consultants LimÉted
Building 2
30 Friem Park
North Finchley
London, N12 9DA
Bankers
Barclays Bank plc
One Stanhope Gate
Mayfair
London W1K 1AF
Solicitors
Linkiaters
One Silk Street
London
EC2Y 8HQ
Investment Advisors
Goldman Sachs Intemational
Plumtree Court
25 Shoe Lane
London
EC4A 4AU

Page 2
THE HADLEY PROJECTS FUND
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31ST MARCH 2024
The trustees have pleasure in presenting their report and the financial
statements for the charity forthe year ended 31" March 2024, which is the
fourth year of operation.
CONSTITUTION AND OBJECTS
The Hadley Projects Fund (trET[￿ is constituted by trust deed dated the
July 2020. It is a grant making charity. Under the terms of the deed the
trustees are able to apply the income and capttsl of the Trust in such
manner as they think fft for obje¢ts which are exclusively charitable under
the laws of England and Wales.
GRANT MAKING POLICIES
The trustees. general approach has been to further the Trusvs objects by
engaging with and making grants to other regk%tered tharities.
The Hadley Projects Fund is a sister charity of the Hadley Trust. It was
established with the aim of providing funding for large projects which do not
fit easily within the Hadley Trust's funding conslraints. The Trustee5 of the
Hadley Trust have now varied the Trust Deed of the Hadley Trust SO that
those funding constraints no longer exist. The intention of the Trustees of
the Hadlèy Projects Fund is therefore to explore options to wind up the
Trust by transferring its assets to the Hadley Trust. This is likely to include
seeking the Charty Commission's approval of the chosen course of action
before the end of the year_ This rationalisation will result in significant
savings thus freeing up extra reSoUr￿S for charttable purposes.
PUBLIC BENEFIT
The tnjstees consider that public benefft has accrued from the Trusvs grant-
making activities since tts establishment and have paid due regard to thè
Charity Commission's guidance on public benefft in deciding what
activities the Tnjst should undertake over time. As mentioned above, the
Trustees, intention is now to take advice on the tr￿st way to wind up the Trust,
which the Trustees consider to be for the public benefft as tt will allow the
Trusfs assets to be more effioerrtly used in the fulure.
REVIEW OF ACTIVITIES
No grants were made tytsTn&(kNYYJ ts rHKxl. The trustees do not intend
to make any grants whilst they tske advice as to the winding up of the
Trust.

Page 3
THE HADLEY PROJECTS FUND
TRUSTEES. ANNUAL REPORT (conts"nued)
FOR THE YEAR ENDED 31ST PaARCH 2024
INVESTMENT POWERS
The Trust Deed authorises the trustees to make and hold investments using
the general funds of the charty.
INVESTMENT POLICY AND PERFORMANCE
The chartty's endo￿nent is comprised of several donations of shares in
CQmputa￿nter. The settlor donated a further 230.Crf)O CC shares to the
Hadley Projects Fund on 11 September 2023 with a total market value of
£5,662,600. These shares were donated on the basis that they would be held
on a long-term basis and C￿￿tIwIth the prior approval of the settlor.
RESERVES POLICY
The trustees do not designate any particular components of the chartvs
endowment as reserves although, in any given year, a signtficant portion of the
charty's assets could be made available for charitable purposes at the
discretion of the present trustees.
RISK MANAGEMENT
Trustees are responsible for monitoring the risks facing the Trust and
ensuring that adequate steps are taken to mitigate them.
The trust has a formal risk management policy in pla￿. ThK8 is based on a
table of potential risks. ranked via a traffic light system according to the
aggregate of likelihood and severity of impact. This table is kept under
regular review and formally updated and reviewed once a year. The trustees
are salisfied that adequate safeguards are in pl￿ in re￿tion to the risks to
which the Trust is exposed and measures taken to mitigate them.
The financial controls are reviewed annLkg11y.

Page 4
THE HADLEY PROJECTS FUND
TRUSTEES. ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31ST MARCH 2024
THE TRUSTEES
The following trustees serrfed throughout 2023r24.
Philip Hulme
Jan Hulme
Tom Hulme
Kate Prideaux
Sophie Swift
TRUSTEES, RESPONSIBILrriES
Law applicable to cPorÈtses in England and Wales requires the trustees
to prepare financial statements for each financial year which give a
true and fair view of the charity's financial activrties during the year. In
preparing financial statements, the trustees are required to:
select suitsble accounting policies and then apply them consistently"
make judgements and estimates that are reasonable and prudent"
slate whether applicable accounting standards and statements
of recommended practice have been followed, subject to any
departures disclosed and explained in the financial
statements" and
prepare the financial statements on the going
con￿rn basis unless it is inappropriate to presume
that the charty will continue in operation.
The trustees are responsible for keeping accounting records which enabie
them to aS￿rtain and disclose with reasonable accuracy the financial
position of the charity and ensure that the financial statements comply with
the Charities Act 2011. They are also responsible for safeguarding the
assets of the charty and for taking reasonable steps for the prevention and
detectlon of fraud ants oiner Irregularit￿S.
In so far as the trustees are aware:
there is no reEevant audit infomiation of which the chartty's
auditors are unaware and
the trustees have taken all necessary steps to make
themselves aware of any relevant audtt infomiation and to
ensure that the auditors are aware of the same.
The trustees strrve to avoKI any cOnfi￿t of interest between the interests
of the Hadley Projects Fund on the one hand, and personal. professional.
and business interests on the other. This includes avoiding the perception
of conflicts of interest as well as actual conflicts of interest.
The trustees are aware of and have noted the new Gode of governance
suggested by the charity commission, and will appty it as they consider
appropriate.

Page 5
THE HADLEY PROJECTS FUND
TRUSTEES. ANNUAL REPORT (continued)
FOR THE YEAR ENDED 31ST PaARCH 2024
The trustees believe that they have fvlfilled all of the above obluab.ons and that this report
and the accompanying accounts are compliant wtth the trust's goveming document and the
Charity Commission's Statement of Recommended Practi￿.
This trustees, report.
having been approved by trustees.
were signed on their behalf by-
Dated:
IiZ124
P W Hulme
Trustee

Page 6
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF
THE HADLEY PROJECTS FUND
FOR THE YEAR ENDED 31ST MARCH 2024
Opinion
We have audited the finan¢tal statements of The Hadley Projects Fund for the year ended
31st March 2024 whtch comprise the statement of financial athvrties, the statement of financial
position and notes to the finanaal statements. The financial rewrting framework that has been
applied in their preparation is applicable law and United lQngdom Accounbng Standards, including
Chartties SORP (FRS 102) The Financial Reporting Standard applicable in the UK and Republic
of Ireland (United Kingdom Generally A￿pted Accounting Practi￿).
In our opinion the finanaal statements:
give a true and fair view of the state of the chatitls affair5 at 31 st March 2024 and of its
incoming reSoUr￿S and application of resources, for the year then ended",
have been property prepared in accordance with United lQngdom Generally Accepted
Accounting Practi￿. and
have been prepar8d in accordance wrth the requirements of the CharÉiies Act 2011.
Basis for opinion
We conducted our audtt in accordance with Intemational Stsndards on Audtting (UK) (ISAS (UK))
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 wth the ethical requirements that are relevant to our audit
of the financial statements in the UK, inclLKling the FRC'S Ethical standard, and we have fulfilled our
other ethical responsibilities in aGG0rdan￿ with these requirements. We believe that the audit
evidence we have obtained is sufFicierrt and appropriate to provide a basis for our opinion.
Concluslon related to going concern
We have nothing to report in respect of the following matters in relation to which the ISA'S (UK}
require us to report to you where-.
the trustees, use of going concem basis of the accounting in the preparation of the financial
statements is not appropriate. or
the trustees have not disclosed in the finanoal statemerrts any identified material uncertainties
that may cast significant doubt atoui the charitys abilty to continue to adopt the going con￿rn
basis of accounting for a penod of at least twelve months from the date when the financial
statements are authorised for issue.
Other infonnation
The trustees are responsible for the other infonnation. The other infomation comprises the
infomiation included in the trustee's report, other than the financial statements and our auditorfs
report thereon. Our opinion on the financial ststements does not cover the other information,
except to the extent otherwise explicitly stated in our report. we do not express any fomi of
assuran￿ conclusion thereon.

Page 7
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF
THE HADLEY PROJECTS FUND (Continued)
FOR THE YEAR ENDED 31ST MARCH 2024
Other inforniatlon
In connection with our audit of the financial statements, our responsibilty is to read th8 Other
infomiation and, in doing so, consÉder whether the other inforniation is material inconsistent wth the
financial statements or our knowledge obtained in the audrf( or othemse appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or an
material misstatement of the other information. If, based on the work we have performed , we
conclude that there is a material misst*ement of this other infonnation, 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 require us to report to you rf, in our opinion
adequate accounting records have not been kept. or retums adequate for our audit have not yet
been received from branches not visrled by us" or
the financial statements are not in agreement with the accounting records and retums; or
We have not re￿Ived all the infonnation and explanations we require for our audit.
R8sponsibilities of trustees
As explained more fully in the trustees, responsibilrties statement. 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 intemal control as the trustees determine is necessary to enable the preparation of
financial statements that are fee from material misstatement, whether due to fraud or error.
In preparing the financial statements, the tTUStees are responsible for assessing the ¢hariVs ability
to continue as a going concem, disclosing, as applicable. matters related to going concem ano
using the going concem basis of accounting unless the trustees either intend to cease operations,
or have no rea5istlG attemative blrt to do so.
Auditovs responsibilities for the audlt of the financial statements
We have been appointed as auditor under section 144 of the Charrbes Act 2011 and report in
accordance wtth the Act and relevant regulations made or haMng effect thereunder. our
responsibility is to audit the financial statements in accordance wtth relevant legal and regulatory
requlrements and Intemational Standards on Auditing (UK and Ireland). These standards require
us to comply with the Auditing Practice Board's (APB'S) Ethical Standards for Auditors.

Page 8
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF
THE HADLEY PROJECTS FUND (continued)
FOR THE YEAR ENDED 31ST paARCH 2024
Extent to which the audit was consldered capable of detecting irrigularities. includlng
fraud
Irregularities, including fraud, are instances of nonrycompliance with laws and regulations. We
identrfied and assessed the rtsks of material misstatement of the financral statements from
irregularities, whether due to fraLKI or error. and discussed these between our audit team members.
We then designed and performed audrt procudures reponsive to those risks, including audtt
evidenGe sufficient and appropriate to probllde a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworf(s wrthin which the
charitable trust operates, focusing on those laws and regulations that have a direct effect on the
detennination of matenal amounts and disclosures in the financial statements. The main law and
regulation we considered in this context was the Charities SORP (FRS 102) We assessed the
required compliance with these as part of our audit proujdures on the related financial
statement ttems.
We also considered the opportunities and in￿ntiveS that may exist within the charitable trust
for fraud. Auditing standards limrt the required audit prO￿dureS lo indentify nonkncompliance.
We identified the greatest risk of material impact on the financial statements from i￿egUlatIes.
including fraud, to be wtihin the recording ol incorne and valuation of investments and the override
of controls by management. Our audit procedures to repond to these risks included additional
work reviewing investment income and valuations. enquiries of management and analytical
review procedures.
Owing to the inherent limiations of an audti, these is an unavoidable risk that we may not have
detected some material misstatements in the financial statemetns, even though we have properly
planned and perfomied our audit in accordanrE wth auditing standards. We are not responsible
for preventing non-complian￿ and cannot be expected to detect non-compliance with all
laws and regulations.
U•¢ of the audit report
This report is made solely to the charity's trustees, 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 state to the charitys trustees those matters we are required to stste to them in an
auditorfs report and for no other purpose. To the fvllest extent pemiitted by law, we do not a￿pt
or assume responsibility to anyone other than the chartty and the charity's trustees as a body. for
our audit work, for this report, or for the opinions we have fomied.
Robert Knight, FCCA, ATII. Statutory Auditor
For and on behalf of NeI￿on & Gamer Limited
Newton & Gamer Limited
Chartered Accountants & Registered Auditor5
Building 2,
30 Friem Park,
North Finchley,
London, N12 9DA
Dale 9K W- 2*ly

Page 9
THE HADLEY PROJECTS FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST AIARCH 2024
Tolal Funds
Period lo
2023
Unrestrtcted Endowment T¢)tal Funds
Funds
Funds
2024
INCOME AND ENDOWMENTS
Donations and legacies
Investments
5.662.600
5,662.600
411,749
6,174,000
212,248
411.749
TOTAL INCOME
411.749
5.662.600
6,074,349
6,386,248
EXPENDITURE
Expenditure on raising funds-
Expendf(ure on charitable activities
415
13,41)0
13,400
60.400
TOTAL EXPENDITURE
Net Income
13.400
398,349
13,400
6,060.949
60,400
6,325,848
5.662,600
Transfer bett¥een funds
398.349
6,060,949
6.060.949
6,325,848
OTHER RECOGNISED GAINS AND LOSSES
{LossesllGains on ￿ValUab"On of fix&J assets
3J28,200
3 328.200
1,368,000
NET MOVEMENT IN FUNDS
9.389,149
9,389,149
4.957,848
RECONCILIATION OF FUNDS
Total Funds broughl forward
10.889,003
10.889,003
5,931.155
TOTAL FUNDS CARRIED FORWARD
20.278.152
20 278,152
10,889,003
The Statement of Financial Acbvibes includes all gains and losses in Ihe period.
l income and expendthre derive from Continuing activrb"es.

THE HADLEY PROJECTS FUND
STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024
Pagg 10
2024
2023
FIXED ASSETS
Investments
20238.952
10,836.403
20238.952
10,836.403
CURRENT ASSETS
Cash 8t bank
58,600
58,600
CREDrroRS: Amounts falling
due within one year
10
7200
6.000
NET CURRENT ASSETS
39200
52,600
TOTAL ASSEfs LESS CURRENT LIABILITIES
20.278,152
10 889,003
NET ASSETS
20.278.152
10,889,003
FUNDS OF THE CHARiff
Endowment fvnds
11
20,2rn152
10.889,003
TOTAL CHARrrY FUNDS
20.278,152
10,889,003
These financial ststements, having been ap[￿0Ved by the trustees.
were signed on their behaff by..
dabj..
P.W. Hulme
Trustee
The notes on pages 11 to 14 forni part of these accounts

Page 11
THE HADLEY PROJECTS FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST kWiCH 2024
I. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared in accordance wlh A(￿Unting and RepoTting by Charibes:_
ststement of Recommended Practice applThble kn chaTtts"es preparing their acwjnts in accordan
with the Finan￿al Reporting Stsndard appl￿b￿ in the UK and Republic of Ireland {FRS 102} leffeofve
1st January 2015}- {Charities SORP {FRS 102)), The Financial Reporting Standard applicable in the UK
arKI Republic of Ireland IFRS 1021 and the Chanties Act 2011.
The Hadley Projects Trust meets the definrt*)n of a publ￿ benefft entity under FRS 102. Assets and liabilittes a
initially recognised at historical cost or transaction value unless othefwse stated in the relevant
accounting policy notes. There are no material un￿rtaIntieS about The Hadw Project Funds ability to
continue as a going cOn￿M.
In preparing the financial statements, the trustees have considered whether in applying the acGounting
policies required by FRS 102 and the Charsties SORP (FRS 1021 the restatement of comparative items was
required. No material restatement of comparalive items vras required.
The financial statements are prepared in sterling. whth i8 the fvnth.onal currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
Income
Voluntary income and donab.ons are accounted for when r￿eNed by the charity. Donations of shares are
valued at the Mid-pri￿ on the date of donab"on.
Investment income is accounted for in the Fwicxj in which the chanty is entided to receipl
Expendlture
Expersditure is accounted for on an accruals basis.
Expenditure on raising funds Comprise those Ix)sts direcly attributable to managing the investment
portfolio and raising investment income.
Grants payable are charged in the year ￿en the charity offer is ¢onveyed to the recFpient except in those
cases where the offer is condtbonal, such grants being recognised as exFendrture when the condttions
attaching are fvlfilled.
AIS costs are allocated betw￿ expenditure Categor￿ of the Statement of Financial Activities on a
basis designed to reflect the use of Ihe resource costs relating to a parb'cuLgr actNity.
Investments
Investments are included at closing mid-market value at the balance sheet date. Realised and unrealised
gwns and losses on investments are deatt y￿th in the Statsment of Financial ActNities and are calculated
on a first in first out basis.
Unlisted investrnents are initially recorded at cos( and subsequentty measured at fair value.

Page12
THE HADLEY PROJECTS FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POUCIES (Conlinued)
Cash at bank
Cash at bank are basic financtal assets and indude deposrts hekl at call with banks and bank overdrafL
Bank overdraft are shown wtthin borrowings in current liabililies.
Forelgn Gurrencies
Assets and liabilth.es in foreign cJjrTenc￿S are transtate(l into sterfing at the rates of exchange Nling
at the balance sheet date. Transath"ons in foreign currencies are translated into steding at the rale of
exchange ruling at the date of the trans&tion. Exchange dIfferer￿eS are taken into account in arriving
at the net incoming resource&
Value Added Tax
Value Add&J Tax is not recoverable by the chanty. and as such is indUd￿l in the relevant costs in the
Statement of Financial ActivTb"es.
Financial Instwments
The ¢hartty has elected to appty the provÉ5ions of Section 11 'Basic Finanaal Instruments. and Section 12
Other Financial Instrument Issues, of FRS 102 to all of ils finanual instruments.
Financial instnjments are recognised in the charitys balan￿ sheet when the char￿Y becomes paty to
the contractual provisions of the instrument Financial assets and Itabilities are offse( with the net
amounts presented in the financial statements. when there is a legalty enforceable tight to Set off the
recognised amounts and there is an intention to setue on a net basis or to realise the asset and sethe
the liability simultaneously.
2. DONATIONS AND LEGACIES
2024
2023
Other voluntary income
5.662,600
6,174,000
3. INVESTMENT INCOME
2024
2023
Income from listed investments
Income from cash investments
393.980
17.769
209,300
2.948
212,248
4. EXPENDITURE ON CHARrrABLE ACTIVITIES
The charity undertcx)k no direct charitabte *ivttE5 during the perKMJ.
Total Funds
Yearto
2024
Total Funds
Period to
2023
Support
Govemance
Costs
Grants
13JOO
13AOO
60,400
5. SUPPORT AND GOVERNANCE COSTS
2024
2023
The breakdown of support costs attnbutable to ¢haritable activitEs k8.
Govemance costs- legal, audtt & a(x¥Juntancy
13AOO
10,400

Page 13
THE HADLEY PROJECTS FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
6. STAFF COSTS AND EMOLUMENTS
2024
2023
The number of staff employed by the charity during the finanaal year amounted to..
No.
7. TRUSTEE REMUNERATION AND RELATED PARTY TRANSACTIONS
No remunerats.on was paid to trustees in the year {2023- Nill. nor were any trustees. expenses reimbursed
12023- Nil).
No trustee had any personal interest in any contract or transaction entered into by the charity during the
year12023 - Nill.
8. INCOME
2024
2023
This is slated after charging..
Auditors remunerabon..
- audit of the financial statements
2,640
9. INVESTMENTS
Cash or
Cash
Equivalents
Llsted
Investments
Total
Cost or valuation
At 1 st April 2023
Additions
Revaluations
At 31st March 2024
146.403
411.749
10.690.000
5,662.600
3.328.200
19,680,800
10.836.403
6.074,349
3.328,200
20.238.952
558,152
Impa7rn1ent
At 1st April 2023 and
31st March 2024
Carrying amount
At 31st March 2024
558,152
19,680,800
20.238,952
Carylng amount
At 31 st March 2023
146,403
10,690,000
10,836.403
The trustees consider that the followsng indwidual investments requires disctosure..
Listed Invèstments
Computacenter plc 730,OCKJ ordinary Sha￿ £19.680.800 (2023- 500,000 ordinary shares £10,690,000).
These shares are listed on the London Stctk Exchange and are valued at mid-price at the close of
business on 31st March 2024. It should be noted that they were donated to the Trust on the
understanding that they woukl be held on a bng-teTm basis and onty sold with the prior agreement of the
donors.

THE HADLEY PROJECTS FUND
NOTES TO THE FINANCIAL STATEPIIENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Page 14
10. CREDffORS: Amounts falllng due within one year.
Arxruals
2024
2023
7,200
7,200
6,000
6,000
11. ENDOWMENT FUNDS
Balance at
1A23
Incomin9
Resources
inc. gains
Balance at
31.3.24
Expendable endowment
10,889.003
9,389,149
20,278,152
The initsal donation5 which set up the trust and subsequent donab.ons are, uncfer the teTms of the Trust
, available lo be used for charrtabie purposes. The endowment has been treated in these financial
statements as an expendable end(Y•vment