Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF Registered number.. 12511631 Charity numb&r.' 1193233 LANGLEY FAMILY FOUNDATION (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED30 SEPTEMBER 2024
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company Ilmited by guarantse) CONTENTS R$f&rence and admlnlstratlvo detalls of the company* Its Trustees and advlsers Trustees. report Tru8tees' responslbllltlè6 8tat•ment Independent 8xamlngrfs report stst8m8nt of flnanclal actlvltles 8alanc? 8he•t Nots8 to thè Iln8nclal statemgnts 9-17
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company limlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Trustees P Sandilands, Trustee S Cohen, Trustee Company reglstered number 12511631 Charlty reglstertd numbgr 1193233 Reglstered offlc& Island Sludios 22 St. PeleTS Square London W6 9NW Accountants Bllck Rolhenberg Llmiled Chartered Accounlanls 16 Greal Queen Slreel Covent G8rdgn London WC2B SAH Bankers Natwesl 1 Granby Slraet Lelcasler LE16EJ Caz8nove Capltsl 1 London Wall Place London EC2Y SAU Page 1
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAPdllLY FOUNDATION IA company limlled by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Iruslees present their annual report logelh8r wllh the financial stat8mènts of tho company for the 1 October 2023 10 30 Seplembei 2024. The annual report serves the purpos8s of both a trustees, rep)rt and a directors. report under company18w. The trustees confim) Ih8t th8 annu81 rgport and financlal s18lements of the charllabl company comply with Ihe Current statutory requirements, the requlremants of Ihe charitable compan$ gov8rnlng documènt and the provisions of the Slalem8llt of Recommended Practice ISORPI appllcable lo charlliès prèparlllg thgir accounts In accordance wth the Flnanaal Reporting Standard applicabl6 In the UK and Republic of Ireland IFRS102) leffecllve 1 January 2019). Slnc8 the company qualSfies as small under s8ctton 382 of th8 Compani8s Act 2006. the slraleglc report requlred of medlum and larga comp8nle8 under the Companlos Act 2006 Islraleglc Report and Dlrectors, Raporti Regulallons 2013 has been omlllèd. ObJectSvos and actlvltles Pollclas and object1$ The Foundallons oblectlves are reslrictgd to promollng or catyng out such chathable purposes 88 the Iruslèes In Ihelr absolute d18¢retlon from Ilme lo Ilme Ihlnk fil. In selllng oblectfve8 and planning for acilviiles. tho truste88 have gfvan due considerallon to general guldanc8 published by the Charfty Commlsslon relallng to publlc benefft, indudlThJ the guldanca 'Publlc beneflt.. iunnlng a charlly IP821'. b. Grant-maklng pollcl•8 The Iuslees wlll Identify, al Ihebr discrellcffl, reglslered charit$ or other voluntary organl8allons undertaklng chaillable acllvilles that align with tho purposes and oblectlves of tha Foundallon and generally conlorm lo Foundallon crlleri8, conduct due dlligence and Inle granl appllBalions. Such offers wlll be made 8s and when tho Trus1998 Sdenlify suitable projects. A¢hlevement6 and porformanc• •. Revlew of actlvltles The Langley Famlly Foundalon, has continued to make good progress Into its founding objecllves. During the y88r, the Foundallon has granted £35,000 12023.. £25,000) 10 Body and Soul, an organisallon whlch 8sslsl8 children. teenagers and familles living wllh. or closely affected by childhood trauma. No addllion81 grAnls have been commlted al the year end. Flnancloj revlew a. Golng Eoncern After making appropriate enquiries, the trustees have a reasonable expoct8tion that the company adequate resources lo continue in operation81 exlslencg for the foreseeable future. For Ihls reason. they conllnue lo adopt the going ¢x)ncem basis in preparlng the financial slalernents. Futhor detalls regaTdlng the adopllon of the going concarn basls can be found in the ac(x)unting FX)liclos. Page 2
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION {A company Ilmited by yuaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 b. Rp$orves pollcy As al 30 S8plemb8r 2024, the reserves of the Founéalion amount lo £672.76612023: £542,512). The tustg8S have established a policy whereby free r8serves held by the charity should be malntaln8d al sufficlenl lev81s lo maintsln the charitls operallons in the event of shorl lerrn lundlng flu¢luations or unforeseon costs. Al the year end the FoL¢ndatlon's Iree r68eN8s are £172.766 (2023.. £45,512)- c. Flnanclal rtsk management obJ8Ctlv8s and pollcles Th8 directors have revlewed the rlsks lo whlch 8 sm811 charlty is 8xposed to. Approprlale proceduros are in place to Identify, monllor and review th858 risks on a regular basis. d. Summary The Slalemenl of financl81 aclivilles yel OLrt on page 7 of the flnanciBI stalèmanls shows how the ch8rftls Incornlng resouicas have been expended the year endeij 30 S6pl8mber 2024. Tho Foundallon received donallons and Glft Ald conlribullons loialllng £167.65412023.. £62,500), and made total grants of £35.000 12023.. £25,000>, along with incurrlng governance costs lotalllng £2,400 (2023.. £2,400). Thls r08ulled In a not Income for the current financkil year of £130,25412023= £35.1001. Th8 Balance sheet 861 out on page 8 01 tha finand31 slalemants shows the financlal posIOn of tho charSly al 30 September 2024. Flxed assets are made up of a £500,000 indlrecl Investment In Llfschutz Davldson Sandlland8 Holdlngs-UK Llmlled. Tho shares were gifted lo the charlty from the Iruslees in 2021. Current ass81s of £175.16612023'. £44.7921 Is represented by cash al bank of £171.666 12023: £33,292), and other debtors m8de up of gift ald recoverab l01811ing £4,00012023.. £11,500). Current Ilabllllles of £2,40012023.' £2,280) Is represented by accruals. The resulllng nel 8sset8 al 30 Sgpl8mber 2024 amount to £672.76612023: £542.512). Th18 Is represented by unreslricl8d funds. structure. gov•mancg and managgment Constttutlon Langley Famlly Foundallon Is rBgistered as a charitable company Ilmit8d by guarantee and was set up by 8 Twsl deed. b. Methods of appolntmont or electlon of ¢wstees The board of the compary Is th8 responsibl1 of the trustees who are 918Cted and C0pd und8r the terms of the TTUSI deed. The trustees. that sorveij In Ihe year were: S Cohen P Sandllan(is Page 3
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION IA cumpany Ilmited by guaranto01 TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 structure, goveFnanc• and managèmènt {continued) Organlsatlonal structuro and dtrcl$lonvmaking poll¢los The buslness of the company shall be Fnanaged by th8 board who may exercise 811 the pow8rs of th8 charlly and do on behalf of the company. The t)oard meet iègularfy lo monllor the actThiltles of the company. A decision of Iruslees can b8 taken when all eligible trustees indicate lo each olh8r by any means that they sharo a Common vlew on a matter provided that the elvJible Iruslaes taking such a decislon would hava formed a quorum had a rneellng of lh8 Iruslees been hakl. d. PollcSes adopted for the Inductlon and tralnlng of tru$t••s Truste88 ar8 encouraged10 8ttend appropdate extgrnal Irainlng events where these will f8cllStale tha undertaklng of Iholr role. Related party rolatlonshSp$ Durlng the year the one of th8 trustee5. P Sandllands donated to the charlly a lolal of £106,00012023.' £30,000). As al the year gnd Ihe Foundallon was owed ENIL (2023.. £NILI by P Sandllands. Thera are no formal term8 and condlllons of repayment. Durfng the year th8 Foundallor* rec8lved £35,00012023'. £25,000) from 1 Paradlse G8rd8ns Llmlled. a cornp8ny lolnlly controlled by a Irusle8. As al the year end Ihg Found811on was owed £NIL 12023.. £NILI by 1 Paradlsa Gaid8n8 Llmlled. l. Flnanclal rl$k management The Iruslaas have assessed the mglor rlsks to whlch the company Is expo88d, Sn partlcul8r those related to th6 operatlons and finances of tha company, and aye satisfied that systems and procedur&s are In placè lo mlllgala axposure lo the major rlsks. Plans for future perlods The Found8llon wtll conllnue lo support charities and org8nl88tlons th8t allgn wlth It8 own purposes and oblectlves. M8mbgrs' Ilablllty The members of the company guarantee lo contribute an amotjnl nol exceeding £10 to th8 a888t8 of the company in th8 event of winding up. Small ¢ompanles exempllon In PTepaiing Ihls report. the trustees hav8 tak8n advantage of Ihe small companles 8X8mpllons provlded by sedion 415A of the Companies Act 2006. Approved by ord r of the members of tho boanl of trustees and signéd on their behalf b. P Sandllands Trustee Date.. zs 06.zs Page 4
Docusign Envelope ID." 01FD947545AF488tWDC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company Ilmlted by guarantee) STATEMENT OF TRUSTEES. RESPONSIBILrriES FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees {who are also the directors of the Gompany for thè Pufposes of cornp8ny lawl are responsible for pr8P8rlng th8 trusl8es' report and the firsanci81 slalemenls In accordance wlh applicable law and United Klngdom Accounting Standards (Unrted Kingdom Generally Accepted Accounting Pradce}. Company law raqulres the Irustses lo pr6paTe fhandal statements for each flnancbal perlod. Under company law, the trustees musl not approva the financlal slalemenls unl8ss they ar8 sal55fied that they give 8 true and faSr vlew ol the 8181& of affairs ol the company and of Its incomlno resources and 8ppllcalion of resourc8s. Includlng 118 income and 8xpendilure. for that perlcrfj. In preparing thes8 flnandal slalemen15, th8 trusteès are required lo.. s8le¢l suitable accounllng pollde8 and Ihen apply them consislenlty, obseNe the methods and princ(pl6s of the Chaillttis SORP {FRS 1021.. make ludg8ments and accountlng eslimales that 8r8 reasonable and prudonl: 818te whether applicable UK Accounllng Standards IFRS 1021 h8ve been followed. sublecl lo any malerlBI departuras dlsclosed 8nd explalned in the financial statomenls.. preparo the financlal statements on the golng concem basls unless It18 Inappropr18te to presume th81 tha company will conllnue in buslnes8. The trustees are rgsponslble for keeplng Bdequalo onng rec(Kds that ara sufficlenl ¢0 show and explaln the companls Irans8cllons and dlscloso with r8asonable accuracy 8t any lime the financial posltlon of the company and enabl8 IhBm to ensure that the linanclal $181ements comply with Ihe Compani68 Act 2006. They 8ro also responslble for 8afegu8rding the assets of tha company and hénce for taklng Tgasonable stops for the prevenllon and del8cllon of fraud and olhgr Irregularit. Page 5
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION (A company Ilmlted by guarant••l INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER2024 Independent Examlnerfs Rgport to the Trustees of Langley Famlly Foundauon I'the cornpany? I report to the charlty trustees on my examination of th6 accounts of the company for the yaar ended 30 September 2024. Re8ponslbllltlos and Basls of Report As the trust888 of the company (and Its dlrectors for Ihe purposes of company lawl you are r8spon$lble for the preparauon ol the accounts In accordance wlth th8 requiremants of the Compani88 Act 2006 Ilhg 2006 Act'l. Having sallslled mysolf that the accounts of th8 company are not required to be audlled under Part 16 of the 2006 Act and are l1ble for Independent oxamlnation. I report In respect of my examinallon of the companys accounts carried out under section 145 01 the Charities Act 2011 I'lhe 2011 Act'l. In carrylng out my examlnallon I have folbwe(I the DlreclKsns glven by the Charfty Comm18slon under secth)n 14515)Ibl of the 2011 Act. Indgpendont Examlnerf$ Stat•ment I hav8 completed my examlnallon. I conftrm Ih81 no matters have come to my att8nlk•n In connecllon wllh the examinallon glvlng me cause to bellev8'. accounllng record8 were not kepl In respect of the company 88 requlred by seclkjn 386 of the 2006 Act,. or the accounls do not accord with those records" or the accounts do not comply wSlh Ihe 8ccounllng requlr8ments of secllon 396 of Ihe 2006 Act other than any r8quirgm8nl that the accounts give a 'lrue and f8irf vl8w which Is not 8 mott&r consld8rad as part of an Independent examlnalk)n'. or tho 8ccoun15 have not been PTepaTed In 8ccordance wth the melhods and prlnclplos of th8 Slalemenl of Recomm8nded PraGlice for accounting and reportlng by charilles appllcable lo charttSes preparing Ihelr accounts In occoréance wllh Ihe Flnanc4al Rgporting St8ndaTd oppllcable In the UK and Republlc of Irèland (FRS 102). I have concerns and h8V8 come acTOSS no other matters in connection wllh the examination lo whlch attention should be diawn in th18 report in order lo enable a proper underslarmllng ol the accounts lo be reached. This report Is made solely lo the company's Iruslees. as a body, in accordanco th Part 4 of the Chari1185 IAccounl8 and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the compBnls Iru81ees those matters l arn required to slate lo them In 8n Independonl examlnerfs rèport an¢J for no other purpose. To the fullest extent permltted by18w, I do not accept or assume r8sponsibillty lo anyone other than the company and the companls Iwstees as a body. for my work OT foT this report. Slgned.. Marc Levy FCA Dated.. 30-Jun-25 1 15:45 BST The Institute of Chartered A)untants in England and Wel8S Bllck Rothonberg LSmlled Chartered Accountants 16 Great Queen Street Covenl Garden London WC2B SAH Page 6
Docusign Envelope ID." 01FD947545AF488tWDC-249AB4DDF LANGLEY FAMILY FOUNDATION (A company limlted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unre5trlcted fund6 2024 Total fund5 2024 Total funds 2023 Note Income from: Donations and leoaaes 167.654 167,654 62.500 Total Incomo 167,654 167.654 62,500 Expondlturè on: CharSlabl& a¢tlvlll88 37.400 37.400 27,400 Total oxpendlturo 37,400 37.400 27,400 Not mov•mont In funds 130.254 130.254 35,100 Reconclllatlon of lunds: Total funds brought fOard Net movement In funds 542,512 130.254 542,512 130,254 507,412 35,100 Total funds Carr1 forward 672,766 672,766 542,512 The Stalgmonl of Flnanclal AC11$8 Include8 all gakn8 8nd1098e8 recognL¥8d In the year. The notes on pag88 9 to 17 fom) part of th888 In8nc481 statements. Page 7
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company Ilmit8d by guarantee) REGISTERED NUMBER- 12511631 BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Nots Flxed assets Inv8slm8n18 Currènl assets 500.000 500,000 Debtors Cash al bank and in hand 10 4.000 171,166 11.500 33.292 175,166 44.792 Current Ilabllltl Credllors.. amounts falling due wllhln one year 11 12.4001 12.2801 Net curront as88ts 172,766 42.512 Total a889ts le•• curront Ilabllltl•s 672,766 542,512 Total not a680tB 672.766 542,512 Charlty funds Unraslricled lund8 12 672.766 542,512 Total funds 672,766 542.512 The company was 8ntliled to exempllon from audit undgr seciion 477 of th8 Companlgs Act 2006. Th8 members h8ve not raqulred the mPanY lo obtsin an audll for Ihe year In question In accordancg wlth sectlon 476 of Companies Act 2006. The Iru81ees acknowlgdge their r8spon8lbllllies for cOMprd wth the wuiremenls of the Act wllh r88pecl lo accounllng records and preparation of ftnancial statements. The financial statements have been prepared In accordance wth the provi8k)ns appllcablo lo entKies subject to the small companles regime. The flnanclal slalemenls were approved and aulhorised for issue by the Irustaes and slgnod on Ihelr b8h8lf b. P Sandllands Trustee Dato= .c(2S Th8 notes on pages 9 10 17 foim part of these financlal statements. Page 8
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company Ilmbted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER2024 General Informatlon Langley Famlly Foundallon Is a company limited by gLtaranlee incorporated in England and INales. Thè addiess of Sls reglstered offle* is Island Sludtos. 22 St. Petets Square, London, W6 gNW. In the avenl that th@ company is wound up, oach member of the company commlts to conlrlbule an amount of £10. The flnancial Statements are presented In Sleding l£}- Accountlng pollclgs 2.1 Basls of preparatlon of flnanclal statements The financlal stalem8nts have been prepared In accord8nc8 wllh thg Ch8rltl88 SORP IFRS 1021- Accounllng and Reporting by Ch8ritles'. Slalemenl of Recommended Pracllce applS¢able lo chari118S preparlng thelr accounts in accordanc8 wllh the Flnancial Rèportlng Stsndard applicable In the UK and Republic of Ireland IFRS 1021 leff8cllve 1 January 20191, the Fin8nclal Repong Standard appllc8bl8 Sn the UK and Republlc of Iwland IFRS 1021 and Ihe Compan68s Act 2006. Langley Famlly FoundBllon meets Ihe d8finilk)n of a public benefit enllly under FRS 102. Assels and Ilabilllles are InllSally recognlsed al hlslorfcal cost or Iransactlon value unloss otherwise staled In tho ro18vanl accounllng pollcy. 2.2 Golng concern After maklng enqulrles, the Irusl888 hava 8 reasonabie exp8ctsllon that the chadly has adequ819 T6sources lo conllnue In operallonal exlslence and meet Ils Ilabilllles as Ihey fall due for tha foreseeable future. belng a POTkyJ of al leasl fvJelv8 months from Ihg d819 these financlal slalemenls were approved. Accordingly, they conllnue lo adopt the golng concern bas18 In Preparing the fln8nclal 51al8m8nts. 2.3 Income All Income Is reoognised orKg the company has entitlement to the Income, 51 Is probab18 that the Income will be fecelved and th8 amount of Incomè r8c8lvable can b8 measufed rollably. Granls are Included In the stslement of finandal ac17v¢lles on 8 reCeab basls, The balance of income recelved for speGific purposes but not expended durfng the period Ss shown In the relevant funds on the balance sheet. Where income is recewed In advance of enlillement of recelpl, 515 recognition Is deferred a¥Ki included In creditors as deferred Income. Where enb'llernenl occurs befor8 Income Is raceived. tho Income Is accrued. Inme tsx recover8blg in relatlon to donallons recead under Glft or deeds of covenant Is recognlsed 81 th8 Ilme of the donatlon. Page 9
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company Ilmltèd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng pollcles (contlnued) 2.4 Expendlturn Exp8nditure is rècognlsed once Ih8re is a18gal or constructive obligation lo transfer economlc benefit 10 4 Ihlrd party, 1118 Probable that a transfer of economic benefits will be requlred in 88lllemenl and the amount of the obligalK)n can be Measured reliably. E¥pendlliJr8 is dassified by acllvlly. Thè ¢0818 of each aclivlly are made up of the total of direct costs and sharod costs. IncludSng support cog1$ involved In undertaking each 8divily. Direct costs allribulable to a slngle adivily are allocalad dlr8cIIy lo that activity. Shared costs which contllbule to more than on8 aciivity and support costs whlch ar8 not 81tr1bulable lo a single activily 8r8 apportloned b8iween Ihos8 actlvllS on a basis ¢ons1818nl with the use of r8sources. Central staff costs are allocated on the basis of Ilme sp8nl, Bntj depraciallon charges allocated on the portion of the asset's use. Expenditure on charitable activttles is incurred on diwlly undertoklng th& aGUvlties whlch fvrther tha companys oblecllves, as w911 as any assock2tad support CA)sIs. Grants payable are charged in Ihe year when the offer is mad8 except In Ihose cases where th@ offar Is condlllonBI, such grants belng recognised as expenditure when tho condlllons attachlng are fulfllled. Grants offered subject lo condllions whlch have not been mel 81 th8 year end are noted as commllmenl, bul not accrued as expgndiiure. All fjxpendllure Is Indu8lve ol Irrecoverable VAT. 2.5 Investm•nt8 Flx8d asset investments 8re a form of financlgl instrument and are Inlilalty recognl¥od at Ih8lr Iransaollon cost and subsequently measured al falr value al the balance Sheet dale, unless the value cannot be measured rellably In whlch case 51 Is measured at C081 less impalrmonl. Investment galns and losses, wh8lher realised or unrealised, are comblned and pr8s8nled as 'GainsllLoss8sl on Inveslmenls. In the stslemenl of flnancial acltville8. 2.6 Cash Cash Indudes cosh and short-18mi hlghly IN4uld inveslments wllh 8 3hort maturfty of thre& months or 1858 from the dale of acqulsilion or opening of the dept or similar accLsunl. 2.7 Flnanclol Instruments Th8 company has elected lo apply Sectlons 11 and 12 of FRS 102 in resp8Ct of flnancial Instruments. Fln8nclal assets and finandal IiabllilS are recognised when the company becomes paty lo th8 contractual provisions of the In81rument. Financial Ilabllities and equity Inslrumenls a classified according lo thé sub5tanco of the contractual arrangements entered into. An equity instrumgnl is any contract thal evldences a reskfual interosl In the assols of the company after deducbng all of its liBbllllles. Th8 companys pollcles for Its mBJor classes of financlal assets and financt81 Ilabililies ar8 sel out bèlow. Page 10
Docusign Envelope ID." 01FD947545AF488tWDC-249AB4DDF LANGLEY FAMILY FOUNDATION IA cornpany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng policlos {condnu8d) Flnan¢lal Instrumènts Icontlnued} Flnanclal 8ssot8 Baslc finand81 assets, Indudlng other debtors, cash and bank balances are Initially recognbsed at transaction prlce, unless the arrangem8nl conslilutes a flnanclng transactlon. where the Iransocllon Is measured al tho present value of the futur8 rèc81pls dlscounled at a market rate of Inlarost for a 8imllaT debl instrum8nl. Financing transactions are those in which payment Is deferred beyond normal bu8ingss terms ¢y is flnanced al a 18le of Interest Ihalls nol 8 mark81 ral8. Such assets are subsequanlly carilo(l at amorbse(I cost using the effocllve Intergsl ral8 method. less any Impairment. FlrsancLql Ilabllitl89 Baslc flnanc181 Ilabilltl8s, Includlng other credltors are Inltlally rewgnised at Ir8rssacllon price. unlo89 the arrangement const41ules a finanung Iransactlon. where Ihe d8bl Instrumenl Is measured Bl th8 present value of the futur8 payments discounlgd al a m8rkel rale ol Intsrest for a slm11ar debt instrumenl. Flnanung trans8clions are those In whlch payment Is deferfed beyond nomial buslness lorrns or is linanced al a rale of Interest that Is not a market r818. Debt Instrumen18 ar8 subsequenlty carrtod al amortlsed cost. uslng Ihg 8ffectlve Inl8resl rate method. Impalrment of flnanclal assets Flnanclal 88sels measured 81 cost and 8mortlsed cost are 8SSossed at the end of each reportlng period lor obj8cllve evSdence of Impairnient. If objecllve 8vldenco of Impalrnignl Is found. an impalmienl loss Is recognSsed in the Profit and loss account. For finanGlal aB8ets measured at )St less tmp8imionl, tho Impalmient Ios8 18 m&a5ured 8$ the dlfference b8tsYe8n the asset's carrwng amounl and Ihe best 8stlrnate of the amount the company would receive for the asso1 if it wer8 lo be sold al the reportlng dato. For financial a8S8ts measured at amortlsed cost. Impalrmenl Ios8 Is me8svred 8S the dlfference belween th8 asset's carrwng 8mounl and the present value of 8sllmaled cash flows dlscounled 81 the asset's orlglnal eff8Ctlve interest rate. If tho financlal asset has a varfable Inlere81 r818, the discount rato for measurlng any impaiment loss Is the current effectNe Interest ral8 delemined unéer tho contract. 11 there Is a decrease in the impalmenl loss adslng from an event OCCUfrlng after th81mpalmienl was recognls8d, the SmpBirmenl Is revers8d. The reversal is such that the Cufrerst carrylng amount doe8 not exceed what Ihe Carrng amount would h8V8 been had the impalrment not previously been recogni5ed. The Impalrmenl reversal is recognised In profil or h)ss. Page 11
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION {A company Ilmited by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting pollcles (contlnued) Flnan¢lal Instrumènts (contlnuedl D•r8¢ognltlon of flnanclal assets and flnanclal Ilabllltlgs Flnanclal assets are derecognlsed wh6n 181 th8 conlraclu81 rlghls lo the cash flows from the ass81 xpire or are sellled, or {bl subslan11811y all Iho risks and r8wards of the owngrship of the 4ssel aro transferred lo another p8rty or Icl despite havlng retalned som& signlficanl risks and rewards of ownershlp, control of the assel has been Iransf8Tred lo anolhor party who h8s the practical ability ID unllale1811y sell the asset to an unrelated Ihlrd paty wilhoul Imposing addillon81 restricllons. Flnanclal Ilabili118s are derecognL8ed when the li8blllty 13 exllngulsh8d, that Is when the contractual obllgatlon Is dlscharged. c8nc8lled or expires. Offsèttlng of flnanclal a¥set8 and flnancl41 IlabSlltl•s Fln8nc181 assels and Ilabllllles are offset and the nel amount report8d In the balance sheet when Ihere15 an enforceablo rlghl lo s61 off the recognls8d amounts and there Is an inl8ntlon lo settle on a nel ba51s or lo Yealis8 the asset and seltle the Ilabitity 81mullan8ousty. 2.8 Fund aceountlng Gener81 funds are unrestricted funds whlch are availabl8 for us& al th8 dlscrelion of the Iruslges In furtherance of the general objedv8s af the company and which hav8 not been dg5lgnal8d for other purposes. Incomg from donatlon8 and 1•gacl•s Unrestrlctod funds 2024 Total funds 2024 Total funds 2023 Donallons 167,654 167,654 fj2,500 Total 2023 62.500 62,500 Page 12
Docusign Envelope ID." 01FD947545AF488tWDC-249AB4DDF LANGLEY FAMILY FOUNDATION IA Gompany Ilmltad by guaranteol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 30 SEPTEMBER 2024 Analys13 of grants Grants to In$titutions 2024 Total funds 2024 Total funds 2023 Grants 35,000 35,000 25,000 Total 2023 25,000 25,000 The company has mad8 ihe followlng matefLql grants to Instilullons dudng th8 y8ar'. 2024 2023 Namg of Instl¢utlon Body ond Soul 35,000 25,000 Analy$ls of •xp•ndlturo on Charltablo aCtlvltle• Summary by fund typ• Unrnstrfcted funds 2024 Total 2024 Total 2023 Expandllure 37,400 37,400 27,400 Total 2023 27,400 27.400 Page 13
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Anolys15 of 8xpèndlture by actlvltles Grant fundlny of Governance a¢tlvltles costs 2024 2024 Total funds 2024 Total funds 2023 Expendllure 35.000 2,400 37,400 27,400 Total 2023 25,000 2,400 27,400 Analysls of 8UPPOrt costs Governanc• costs 2024 Total lund8 2024 Total funds 2023 Acoountancy 2,400 2,400 2.400 Total 2023 2.400 2.400 Indèpondent examlnorfs remun•ratlon The Ind8pend8nt examSnef8 remunerallon amounts to an Independent examlner fee of £2,400 12023 - £2,400). Tru4tees' rgmuner4tlon and éxpenses Durlng the year. no Irusl8es recelved any remuneralton or other beneffts12023 . £NIL}. During the year endod 30 Septsmber 2024. trust88 expenses have been Incurr8d12023- £NILI. Page 14
Docusign Envelope ID." 01FD947545AF488tWDC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company Ilmltéd by guarantèe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2D24 Flxed asset Invostments Unlisted Investment$ Cost Al 1 October 2023 500,000 At 30 Septemb8r 2024 500,000 Nèl book valu• AI 30 Seplembor 2024 500,000 AI 30 Seplembor 2023 500,000 10. Debt¢r8 2024 2023 Du8 wlthSn on• year Olhgr debtors 4,000 11,500 11. Credltors: amounts falllng duo wlthln ong year 2024 2023 Accfuals and (ieferred Incom9 2,400 2,280 Page 15
Docusign Envelope ID." 01FD947545AF488tY84DC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 12. Staternent of funds Statement of funds - current y•ar Balance at 30 September 2024 Balance at 1 October 2023 Income Expondlturè Unre8trS¢tgd funds General Funds 542,512 167,654 137,400) 672,768 Statement of fund8- prlor y•ar BalBnce at 30 Soplomber 2023 Balance 81 1 Octob8r 2022 Income Expendltur Unrestrlct8d funds General Funds $07.412 62,500 {27.4001 542,512 Unreslrlct8d funds ale funds whlch are avallable for u86 01 tho dlscretlon of Ihe truslaes in furtherancè of the general oblectfv8s ol the charity. Furthor dotalls of the planned use and purp088 of th8 fund8 held are sel out the Iruslees, report. Page 16
Docusign Envelope ID." 01FD947545AF488tWDC-249AB4DDF LANGLEY FAMILY FOUNDATION IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 13. Analysls of net ass•ts between funds Analy815 of nel assets botsveen funds - current porlod Unrestrl¢tèd funds 2024 Total funds 2024 Fixed a$88t Investments Currenl asset8 Credltors du8 wlthln one year 500,000 175,166 12.È1001 500,000 175,186 12,4001 Total 672,766 872,766 Analys18 01 net assèts bfjiwoon funds - prlor porlod Unre8lrScted funds 2023 Total funds 2023 Flxed a5sel Invgslments Current assets Credltois duo wllhln one y68r 500,000 44,792 12,2801 500.000 44,792 12,2801 542,512 542,S12 Total 14. Relatgd party tr?nsaGtIo During the y8ar the orse ol ihe trusl88s. P Sandllands don8l£d lo the charlty a total of £106,00012023'. £30,000). As al the yg8r and the Foundation w8s owed £NIL {2023= £NILI by P Sandilands. There ar8 no formal terms and condiuons of repayment Durlng the year the Foundallon recefved £35.000 (2023.. £25,000) from 1 Peradlse Gardens Llmllad. company jointly contrled by P Sandinds. As al the year end the Foundalion was owed £NIL 12023.. £NILI by 1 Paradiso Gardens Llmlted. Page 17