Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
Charity number-. 1196957
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2022
AEONIAN FOUNDATION
MENZIES
BRIGHTER THINKING

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
CONTENTS
Page
Reference and administrative detsils of the Charity, its Trustees and advisers
Trusta•s' raport
Independent auditors. report on the financial statements
Statement of financial activities
10
Balance sheet
Statement of cash flows
12
Not•s to th• financial statam•nts
13-20

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS
TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 31 DECEMBER 2022
Trustees
Andrew Pegg
Michelle Roberts
Myriam White
Jeremy Hawkey
Charity registered number 1196957
Registered office
Menzies LLP
Centrum House
36 Station Road
Egha
Surrey
TW20 9LF
Independent auditors
Menzies LLP
Chartered Accountants
Centrum House
36 Station Road
Egharn
Surrey
TW20 9LF
Bankers
HSBC PL
8 Cork Str88t
London
W1S3LJ
Sollcltors
BDB Pitmans LLP
One Bartholomew Close
London
EC1A 7BL
Investment Advisors
HSBC PLC
8 Cork Street
London
W1S3LJ
Page 1

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
TRUSTEES, REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2022
The Truste8s pres8nt their 8nnLJal report together with the audited financial statements of th8 Charity for the period 6
December 2021 to 31 December 2022. The Trustees conlirm that the Annual report and financial staternents of the
ehaiitable cornpany comply with the current statutory requirements, the requirernents of the charitable Incorporated
organisation's governing document and the prtrvisions of the Statement of Recommended Practice ISORPI applicable to
eharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS1021 leffective 1 January 20191.
Oblectlves and actlvltles
a. Pollcles and oblectlves
The objects of the CIO are such exclusively charitable purposes as may be detemiined from time to time by the charity
trustees.
The Charity Truste8s' curr8nt priorities are..
advancing éducation of disadvantaged persons by developing th8ir tnental, physical and tnoral c8pabiliti85 through
educational services or leisure tirne actiwts"85,'
the relief of tnental or physical illness and the preservation of health among disadvantaged persons,.
working to prevent or relieve poverty or homelessness., and
promoting sustainable development through the preservation, conservation and protection of the environment and
the prudent use ol resources.
The Charity s current policy is to make grants to registered charities based in the United Kingdom and with proven track
records in their particular areas of activity.
In setting objectives and planning for aotivities, the Trustees have given due consideration lo general guidance published by
the Charity Commission relating to public benefit, including the guid8nce'Public benefit.. running a charity IPB21'.
b. Strategi85 for achieving objective$
The Charity achieves its objectives by supporting organisations selected by the Trustees and in particular by making grants.
c. Grant-making polici•s
The Trustees award grants which are most likely to further the Charity's purposes efficiently and effectively. In particular..
the Trustees allocate the available funds according to the relevance of the organisation's work lo the objects and
strategic aims of the Charity, the number ol individuals likely to benefit from the organisation, the quality and value
of the benefit the organisation is able to provide. the resources and financial health of the organisab'on and the
efficiency and security of the administrative systems and processes used by the organisation., and
the Trustees wll consider supporting sm811er and less well-known organisations if the Trustees determine they have
an ability to achieve real growth and deliver a meaningful and significsnt impact in furtherance of the Charity's
purposes, or organisations which may bg large but do not have a regular funding base as the ￿U$￿ is perhaps 1855
popular.
Applications from organisations or groups which are not registered charities may be considered at the Trustees, discretion,
Whe￿ the trustees ctsnsider they can be satisfied that the grant is applied foi chaiitable purposes.
The Trustees prefer not to receive unsolicited applications from organisalions and these wll only be considered in
eX￿pIlOnal circumstances and will support in priority the work of organisations whose work is known to them or can be
readily inspected and where they can be assured that the grant is being applied lor the purposes for which it is given.
The size of grants awarded is entirely at the discretion of the Trustees ol the Charity and there is no fixed size. The
Trustees are willing to make grants to support both core funding and specific projects.
The Trustee5 Intend to develop long term strategic relationships with the Ch3rity's grant recipients and intend, therefore, to
support organisations On 8 rnulti-y8ar basis where appropriate, in ord8r to est8blish a meaningful and ongoing relationship
with the r8cipient.
Page 2

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
The Truste8s acknow18dge they have a duty to avoid exposing the Charity s resource5 and reputation to in8ppropri8te risk
and agree, therefore, to carry out a risk assessment as to proposed grants. As part of this, the Trustees will carry out
proportionate and effective due diligence, including appropriate vetting procedures Ithe level of which Should take Into
account the value of the proposed grant) including due diligence on the identity and background and goveinance
procedures of the recipient and any partners with whieh the recipient will work, and on the proposed use of the grant and
how this wll advance the Charity's objects.
The Trustees will meet approximately four limes a year to consider the award ol grants. Potential grant recipients will be
required lo submit a 'proposal' setting out the activities on which the grant would be used, the anticipated impact, as well as
the projected expenditure and grant funding requirements and related timescales. All grant ￿CIpients will be asked to
acknowledge the distribution. to comply with the reporting mechanisms and to sign any grant agreement provided by the
Trustees. The Trustees shall receive and consider reports on grant expenditure by exisling granl recipients. as required
under the grant documentation entered into with the grant recipient. A Comprehensive rne8surement system will be put in
place to assess the impact of contributions and mak8 8djustrnents with a forrnal annual review proces5. It is expected that
the amount of funding allocated to 8ach organisation will vary d8p8nding on their succ855 and credible future plans but as
far as p0551ble each wll b8 SUPPOrt8d on a long-t8rm basis with only gradu81 adjustments to funding allocations.
Achi8vements and performance
a. Maln achl•vamanis of th• Charlty
The Charity made grants of £581,250 to supported organisations during the period. A further £351,116 was aulhorised and
paid shortly after the year end. Unconditional grant cornmitments al the year end were £261,424, making total grants
recognised in these accounts of £1,193,790.
Organisations to support were carefully selected following extensive research and dialogue with the organisations. During
2022, the charity's first year, nine org8nis8tions were selected to receive support, Iwo operating in South Africa, three in
M8dagascar and four in the UK. These organisations offer services in health, education, disabilities. homelessness and
environtllent81 improvement.
Each oiganisation was assessed to fully understand their scale and iequiiements and appropriate quarterly unrestricted
funding grants were provided to them to enable them to build their capacity to successfully delivei more projects in
subsequent years. Some specific restricted funding was provided to support rural health improvement projects in South
Africa and Madagascar.
b. Investment policy and performance
The CIO will have the majority of its funds invested in a HSBC investment portfolio advised on by a professional HSBC
investment manager. Whilst these funds wll typically rise and fall with the global stock markets, over a long period of time
they are expected to make an above inflation rate return. currenuy assurned to be +2010. The expected rate of return is
related to the risk f8¢tor decided for the porttolio which will be reviewed frorn time to time. The majority will initially be
invested in a gener81 fund called a Core Multi-asset Solution ICMSI but OV8r titne a greater proportion wll be assigned to
higher risk, higher volatility, lower liquidity investrnents including private equity IPEI and funds specifically aligned with the
CIO'S objeetives (Thematiel.
All funds will be invested into ctsllective investment funds, not individual shares, bonds tsr other investments.
Funds VAII be selected to be ethical and sustainable, initially on the basis ol avoiding unethical or non-sustainable
invesimenls through negative screening. As the Pcirtlolio develops an increasing focus will be placed on selecting specific
ethical and sustainable investments through positive screening.
Consideration will be given to investing a proportion of the funds into social investment funds at a lower than rnaxirnum
possible expected return but this will always be balanced against the opportunity cost ￿ the CIO of lower future funds being
available for grants.
All investment decisions will be det8rmined by the CIO'S inv8stment committ8e consisting of at18ast two trustees norninated
by the majority of trust885 from tin18 to time.
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
Advice will always be sought from profession81 investrn8nt advisors, initially from HSBC Privste Bank. In the event that th8
investment cornmittee decide to rnake any investrnents which have not been recommended by HSBC, e.g. social
investments or non-HS8C approved funds, they will seek explicit majority approval from the full board ol trusteès.
The investment committee will report to the full board of trustees annually on investment performance and any material
changes in investment strategy, risk profile, investment advisors or fund managers.
During the period a loss of £376,765 was made on investments due to the adverse financial circumstances in 2022
including those arising from the Ukraine conflict.
Financial review
During the period the Charity received initial funding of £27,610,316 on which Gift Aid of £6,881,999 was receivable lowing
at th8 year 8ndl.
- Going concern
After making appropriate enquiries, the Ttustees have a reasonable expectation that the Charity has adequate resources to
continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis
in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the
accounting policies.
b. Reserves pollcy
Total funds at the year end were £33,016,011. The Charity does not maintain specific reserves but a substantial proportion
of its investment portfolio is held in liquid investrnents which can be withdrawn al short notice1£26.578,1941. In a addition
HSBC provide a Lombard Loan facility secured on the investrnents held wth them from which funds rnay be drawn down on
The Trustee5 wish to use funds to 5UPPQrt the chosen charities with amount to be alloted each year.
e. Principal funding
The funding of the Charity has come from donations, ¥¥hich are invested to produce investment income and capital growth.
Structu￿. governance and management
a. Constitution
Aeonian Foundation is registered as a charitable inwrporated organisation ICIOI and was set up under a constitution dated
6 December 2021.
b. Method5 of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the
constitution.
c. Pollcles adopted for the Inductlon and tralnlng of Trustees
All trustees register lor the Institute ol Chartered Accountants in England and Wales online trustee training course and
cornplete the modules which are relevant to their role and the requirements of the foundation.
d. Related party relationships
Non8
Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations
and fInan￿S of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major
risks.
Page 4

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
The rnain risk considered by the TrLJStees is investTnent performance and the Trustees have appointed HSBC Private
Banking to manage the investrnent portfolio on their behalf.
Plans for futura p•rlods
The charity intends to extend its support to approximately tswelve organisations by the end of 2023 and provide significant
extra project grants to nine organisations it stsrted supporting in 2022.
The budget for 2023 has been agreed by the trustees at £1.5m with the majority ol the prospective projects identified and
plans being developed. All supported organisations will continue to receive appropriate levels of unrestricted funding to
ensure they have the resources required to execute this expanded level of project work.
Statement of Trust&es' responsibilities
Th8 Truste85 are r8spon5ible for pr8paring the Trust88s' report and the financial st8t8m8nts in accordanc8 Wlth applicabl
law and Unit8d Kingdotn Accounting Standards IUnit8d Kingdorn G8n81ally Acc8pt8d Accounting PiactiC81.
Charity law requires the Trustees to prepa￿ financial statements for each financial period. Under charity law, the TrLJStees
must not approve the financial statements unless they are satisfied that they give a true and fair view ol the state ol affairs
ol the Charity and ol its incoming resources and application ol resources, including its income and expenditure, for that
period. In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the rnethods and principles of the Charitses SORP IFRS 1021,.
make judgments and accounting estimates that are reasonable and prudent.,
stste whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material
departures disclosed and explained in the fin8nci31 ststements.,
prepare the financial 5tatemgnts on the going conGern basis unless it is inappropriat9 to presutng that the Charity
will continue in busines5.
Auditors
The auditors, Menzies LLP, have indicated their willingness to continue in office. The Trustees wll pro￿Se a motion
reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Do¢uS*n•dtsy'.
PL#
4CD3
Arhdrew Pegg
Chair
Date.. 07-Jul-2023
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
MENZIES
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF AEONIAN
FOUNDATION
Opinion
We have audited the financial 5taternents of Aeonian Foundation (the 'Charity'l for the period ended 31 Decernber 2022
which Comprise the Statement of Iinaneial activities, the Balance sheet, the Statement of eash flows and the ￿lated notes,
including a summary of significant accounting policies. The financial reporting framework thal has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting
Practi￿1.
The financial statements have been prepared in accordan￿ with Accounting and Reporting by Charities preparing their
accounts in accordance Mqth the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021" in
preference to the °Accounting and Reporting by Charities.. Statements of Re￿Mmended Practice issued on 1 April 2005
which is referred to in the extant regLJlations bLJt has been withdrawn. This has been done in order for the financial
statements to provide a true and f8ir view in accordance with the Generally Accepted Aocounting Practi￿ effective for
reporting periods beginning on or after 1 January 2019.
In our opinion the financial statements..
give a true and lair view of the state ol the Charity's affairs as at 31 Decernber 2022 and of its incoming resources
and application of resources. including its income and expenditure for the period then ended..
have been properly prepared in 8ccord8nce with United Kingdom Generally Accepted Accounting Pr8CtiC8,' 8nd
have been p￿pared in accordan￿ with Aeeounting and Reporting by Charities preparing their aeeounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and in
other respecis the requirements of the Charities Act 2011.
Basls for oplnlon
We conducted our audit in aC￿rdan￿ with International Stsndards on Auditing IUKI IISAS IUKII and 8pplicable law. Our
responsibilities und&r thos8 Standards are further described in th8 Auditors, responsibilities for th& audit of the financial
statements section of our r8POrt. W8 are ind8pend8nt of the Charity in accord8nC8 Wlth th8 8thical requirements that 8re
r81evant to our audit of the financial statements In the United Kingdom, including the Financial Reporting Council's Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirernents. We
believe that the audit evidence we have obtained is sufficient and appropriate to promde a basis lor our opinion.
Concluslons relatlng to golng 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.
Based on the work we h8ve perforrned, we have not identified any rn8terial uncertainties relating to events or conditions
that, individually or coll&ctively, may Cast significant doubt on the charity's ability to contlnug as a going concern for a p8riod
of at least twglvg rnonths from when the financial statements arg authorised for issug.
Our responsibilities and the responsibilities of the Ttustees with respect to going coneern are described in the relevant
sectitsns ol this reptsrt.
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AEONIAN
FOUNDATION (CONTINUED)
Othèr Infom)atlon
The other information comprises the inforrnation included in the Annual report other than the financial statements and our
Auditors. report thereon. The Trustees are responsible for the other information contained within the Annual report. 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 fonn of assurance conclusion thereon. Our responsibility is to read the other
inforrnation and, in doing so, consider whether the other inforrn8tion is materi811y inconsistent with the financial st8ternents
or our knowlgdge obtained in the wurse of the audit, or othgrwise appears to be materially misststed. If we identify such
material incon5iStencies or apparent materi81 tMisst8tements, we are rgquir8d to detertlline whether this gives risg to a
material misstaternent in th8 financial staternents themselves. If, based on th8 work we have p8rformed, w8 conclude that
there is 8 material misstaternent of this other infortnation, we are required to report that fact.
We have nothing to re￿rt in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the followng matters where the Charities (Acwunts and Reports)
Regulations 2008 requir8s us to report to you if. in our opinion..
the information given in the financial statements is inconsistent in any material respect with the report of the Trustees.,
or sufficient accounting records have not been kept., or
the Charity's financial ststements are not in agreement with the accounting records., or
Wg h8V8 not received all thg information and explanations we requir8 for our audit.
Responsibilities of truste85
As explained more lully in the Trustees, responsibilities 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 internal contrtsl as the Trustees
detemine is necessary to enable the preparation of financial statements that are free from material misstatement, whether
due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going
concern, disclosing. as applicable, matters related to going concern and using Ihe 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.
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AEONIAN
FOUNDATION (CONTINUED)
Audltors. rasponslbllltlos for th• audlt of the flnanclal statam8nts
Our objectives are to obtain reasonable assurance about whether the financial staternents as a whole are free from material
misstatement, whether due to fraud or error, and to issue an Auditors, report that includes ourour 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 frorn fraud or error and are considered
material if, individu8lly or in the aggregate, they could reasonably be expected to influence the econornic decisions of users
tsken on the basis of these fin8n¢i81 st8ternents.
Irregularities, including fraud, are instances of non-complianc8 With 18ws and r8gul8tion5. We design procedures in line with
our our iesponsibilities, outlined above, to detect tnateiial misstatements in respect of iiregularities, including fraud. The
extent to which our our procedures are capable of detecting irregularities, including fraud is detailed below".
The Charity is subject to laws and regulations that directly affect the financial statements including financial reporting
legislation. We determined that the following laws and regulations were most significant including the Charities Act
2011 and the Data Piot8ction Act 2018. We assessed th8 8Xtent of cotnplianc8 with th858 laws and r8gulations as part
of our procedures on the related linanaal statement Items.
We understood how the Charity is complying with those legal and regulatory frameworks by, making inquiries to
management, those responsible for legal and compliance procedures. We corroborated our inquiries through our
review of board minutes.
The engagement partner assessed whether the engagement team collectively had the appropriate cornpetence and
capabilities to identify or recogntie non-compliance with laws and regulations. The assessment did not identify any
issues in this area.
We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur. We
considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest
potential for fraud in the following areas.. posting of fraudulent journal entries, authorisation, processing, and payment of
fraudulent grant claims and tirning ol revenue recognition.
Audit procedures perforrned by the engagement tearn included..
ldentifw.ng and assessing the design effectiveness ol controls management has in place to prevent and detect fraud-,
Understanding how those charged with govemance considered and addressed the potential for override of controls or
other inappropriate influence over the financial repor￿ng process.,
Remewing the system for authorising grant payments.
Challenging 3SSUtnptions and judgrnents made by management in it5 significant accounting estim8tes,' and
Identifying and testing journal entries, in partieular any joumal entries pc>sted with unusual aeeount eombinations.
ecause of the inherent limitations of an audit, the￿ is a risk that wewè will not detect all irregularities, ineluding those
leading to a material misstatement in the financial statements or non-eomplianee with regulation. This risk inereases the
more that complianee with a law or regulation is removed from the events and transactions reflected in the financial
statements, as we we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding
irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission
or misrepresentation.
A further description of our our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at.. wNw.Irc.or
.uklaudilorsres
onsibilities. This description forrns part of our our Audiiors. report.
Page 8

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AEONIAN
FOUNDATION (CONTINUED)
Usè of our rèport
This report is made solely to the Trustees 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 Trustees those matters we are required to
state to them in an Auditors, report and for no other purpose. To the fullest extent perrnitted by law, we do not accept or
assume responsibility to anyone other than the Trustees for our audit work, lor this report. or for the opinions we have
P.￿ned by..
.11¥16*tLV71
Chartered Accountants
Statutory Audilor
Centrum House
36 Station Road
Egham
Surrey
TW20 9LF
D8te.. 12-Jul-2023
Menzies LLP is eligible to act as an auditor in temis of section 1212 of the Companies Act 2006
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE PERIOD ENDED 31 DECEMBER 2022
Unrestricted
funds
2022
Total
funds
2022
Not•
Income from:
Donations and legacies
Investments
34.492,315
148,589
34.492,315
148,589
Total Sncome
34,640,904
34,640,904
Expenditure on=
Raising funds
Charitable activities
54,766
1.193,362
54,766
1.193,362
Total expenditure
1.248,128
1.248,128
Net income before net losses on investments
Net losses on investments
33,392,776
137e,7651
33,392,776
1376,7651
Net movement in funds
33,016,011
33,016,011
R•eoneiliation of funds..
N9t movemgnt in funds
33,01fj,011
33.016,011
Total funds carrled forward
33,016,011
33,016,011
The Ststement of financial activities includes all gains and losses recognised in the period.
The notes on pages 13 to 20 form part of these fin8nci81 ststements.
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
Not•
Fixed assets
Inv8stm8nts
26.578.194
26,578,194
Current assets
Debtors
12
6,918.797
484,12S
Cash at bank and in hand
7,402.922
Creditors.. amounts falling due wthin one year
13
1902,6051
Nét current assèts
6.500,317
Total assets less current liabilities
33,078,511
Creditors.. amounts falling due after more than one year
14
162,500}
Net assets excludlng pensSon asset
33,016,011
Total nèt ass•ts
33,016,011
Charity funds
Restricted funds
16
Unrestricted funds
16
33,016,011
Total funds
33,016,011
The financial ststements were approved and authorised for issue by the Trustees and signed on their behalf by..
Do¢usbJn￿tsY'.
ACD3
Andrew Pegg
Chair
Date".
07-Jul-2023
The notes on pages 13 to 20 form part of th8s8 fin8nci81 st8t8m8nt5.
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2022
2022
Cash flows from operating activities
Net cash from operating activities (Note 171
26.955.844
Cash flows from investing activities
Purchase of investrnents
Dividends and interest
126,948,135)
148,589
Net cash used in investing activities
126,799,546}
Cash flows from financing a￿1VitieS
Cash inflows from new borrowing
327,827
Nat cash prOvId￿ by financlng actlvltlos
327,827
Change In cash and cash equlvalents In the perlod
484,12S
Cash and cash equivalents at the beginning ol the period
Cash and eash •quival•nts at th• ènd of thè ￿rItsd INotè 181
484,125
The notes on pages 13 to 20 form part ol these financial statements
Page 12

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
G•naral Infomiatlon
The Aeonian Foundation is a Charitable Incorporated Organisation, and incorporated in England & Wales. The
registered address can be found on page 1 and principal activities are sel out in the Trustees, Annual Report.
Accountlng pollcles
2.1 Basis of preparation of financial ststements
The fin8nci81 st8ternents have been prepared in accordance with the Charities SORP IFRS 1021 Accounting
nd Reporting by Chariti85.' Stat8fT18nt of Recommended Practice applicab18 to chariti8s preparing their
accounts in accordance Wth the Financial Reporting Standard applicable in the UK and R8public of Ireland
IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 and the Charities Act 2011.
Aeonian Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otherwse ststed in the relevant accounting
policy.
2.2 Income
l income is recognised once the Charity has entitlement to the incorne, it is probable that the income will be
received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at
the time of the donation.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer eoonornic benefit to 8 third
Party, it is probable that a transfer of 8conornic b8n8fits will be required in s8ttlern8nt and th8 amount of th8
obligation can be m8a5ured r81iably. Expenditure is classifiéd by activity. Th8 costs of 8ach activity 8r8 made
up of the total of direct costs and shar8d costs, induding support cost5 Involved in undertaking each activity.
Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute
to more than one activity and support costs which are not attributable to a single acts.vity are apportioned
between those activities on a basis consistent with the use ol resources. Central staff costs are allocated on
the basis ol time spent, and depreciation charges allocaled on the portion ol the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable
purposes and includes costs of investment management.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's
objectives, as well as any associated support costs.
Grants payable are charged in the period when the offer is made ex￿p1 in those cases where the offer is
conditional. such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants
offered subject to conditions which have not been rnet 8t the period end are noted as a commitment, but not
accrued as expenditure.
18XP8nditur8 is inclusiv8 of irrecov8rabl8 VAT.
Page 13

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
Aceountlng pollclès leontlnuadl
2.4 Forèlgn currènelas
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of
exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of financial activities.
2.5 Investments
Fixed asset investrnents are a form ol financial instrument and are initially recognised at their transaction cost
and subsequently Measured at fair value at the B8lan¢e sheet date. unless the value cannot be measured
reliably in which Case it is rne8sLJred at cost less impairment. Investrnent gains and losses. whelher realised or
unrealised, ar8 combined and pres8nted as 'GainsllLossesl on inv8Stn18nts' in the Statement of financi81
actiMti85.
Investments held as fixed assets are shown at cost less provision for impaiment.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-tem highly liquid investments with a short maturity of three
months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Llabllltles and provlslons
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is
probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement
can be estimated reliably.
Liabilities are recognised al the amount that the Charity anlicipales it will pay to setlle the debt or the amount it
has received as advanced payments for the goods or seNices it must provide.
2.8 Financial instruments
The Charity only has financi818ssets and financial liabilities of 8 kind that qualify as basic financial instruments.
Basic finanoial instrurnents are initially recognised at transaction value and subsequently me8sured at their
S8tt1ement value with the exception of bank 108ns which ar8 subsequently measur8d at arnortisgd cost using
the effective interest method.
Page 14

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
Income from donatSons and legacles
Unrestricted
funds
2022
Total
funds
2022
Donations
Gift Aid Recovered
27,610,316
6,881,999
27,610,316
6,881,999
34,492,315
34.492,315
Investment income
Unrestricted
funds
2022
Total
funds
2022
Income frorn listed investrn8nts
Interest
111,791
36,798
111,791
36,798
148,589
148.589
Investment management costs
Unrestricted
funds
2022
Total
funds
2022
Investrnent management fees
54,766
54,766
Page 15

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
Analysls of grants
Grants have been awarded to the following organisations in support of the Charity's grant making programme'.-
2022
SEED M8dagascar
Feedback Madagascar
Africa Tikkun
160,004
157,500
36,000
75,000
105,490
75,000
331,046
56,250
167,500
30,000
Treloar Trust
Solar Aid
st&p by St8P
Money for Madagascar
Starfish Greathearts Madagascar
Yateley Industries
Khula Education
1.193,790
Analysls of expendtture on charltable actlvltles
Summary by fund type
Unrestricted
funds
2022
Total
2022
Direct costs
1,193,362
1.193,362
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
AnalysSs of expendlture by actlvltles
Grant
funding of
a￿1VitieS
2022
Support
Costs
2022
Total
funds
2022
Activities
1.193.790
14281
1,193,362
Analysis of support costs
Total
funds
2022
Activities
2022
Bank int8rest
3,506
137,2691
33,335
3,506
137,2691
33,335
Currency gainsllosses
Governance costs
14281
14281
Audltors, remuneratlon
2022
F88s payable to the Chaiity'5 auditor for th8 audit of the Charitls annual accounts
8,700
Fees payable to the Charity's auditor in respect of..
Preparation of financial statements in accordance wth Charities SORP
All ntsn-audit services not included above
2,400
12,558
10.
Trustees. remuneratSon and expenses
During the period, no Trustees received any remuneration or other benefits.
During the period ended 31 D￿mber 2022. no Trustee expenses have been inourred£-.
Page 17

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
11.
Flxèd assèt Invèstmants
Llsted
Investments
Cost or valuatlon
Additions
26.948.135
1376.7651
6,824
Revaluations
Foreign exchange movernent
Al 31 December 2022
26,578,194
Net book value
At 31 December 2022
26,578,194
12.
Debtors
2022
Due wlthln one year
Other debtors
6,918,797
6.918,797
13.
Cradltors.. Amounts falllng du• wlthln onè yèar
2022
ank loans
Trade creditors
327,827
11,514
13,224
550.040
Accruals and deferred income
Grants payable
902,605
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Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
14.
Credltors.. Amounts falllng due after more than one year
2022
Grants payable
62,500
15.
Financial instrum•nts
2022
Finan¢ial assets
Financial assets rreasured at fair value through income and expenditure
26,578,194
Fin8nci81 assets rn8asured at fair valu8 through income and 8xpenditure cornprise list8d investments.
16.
Statement of funds
Stat8ment of funds - curr8nt period
Balance at 31
Dec*mbèr
2022
Gainsl
(Losses)
Income
Expenditure
Unrestricted funds
General Funds
34,640,904
11,248,128)
1376,76SI
33,016,011
17.
Analysis of net assets be￿een funds
Analysis of net assets between funds . current period
Unrestricted
funds
2022
Total
funds
2022
Fix8d a5S8t inv85tm8nts
26,578,194
7.402,922
1902.6051
162,5001
26.578.194
7,402,922
1902,6051
162,5001
Current assets
Crediiors due wthin one year
Creditors due in more than one year
Total
33,016,011
33.016.011
Page 19

Docusign En¥ÈlopÈ ID". 60CEOOCF-B59A-4D96-9B23-CC9AEF1C0875
AEONIAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
18.
Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles
2022
Net income for the period185 per Stalernent of Financial A¢tiMtiesl
33.016.011
Adlustments for:
ILossesl on investmenis (net of foreign exchange movements)
Dividends and Inte￿$t from investments
369,941
1148,5891
16.918,7971
637,278
Ilncieasel in debtors
Increase in creditors
Net cash provided by operating activities
26,95S,844
19.
Analysis of cash and cash equivalents
2022
Cash in hand
484,125
Total eash and cash èquivalènts
484,125
20.
Analysis of changes in net debt
At31
December
2022
Cash flows
Cash at bank and in hand
484.125
1327.827
484,125
1327,8271
Debt due within 1 year
156,298
156,298
21.
Related party transactions
During the year the charity received donations of £27.523.916 from Mr Andy Pegg. one of the trustees.
22.
Post balance sheet events
Since the y88r end the Charity has 8gre8d to loan one of its supported ¢h8rities £1.5m to fund its charit8bl8 activities
secured on the supported charity's property and bearing interest at 10k over base rate.
Page 20