2023-12-31-accounts - Hilton UK Foundation

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REGISTERED COMPANY NUMBER: 13225995 (England and Wales) REGISTERED CHARITY NUMBER: 1198428

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2023

for

HILTON UK FOUNDATION

Knox Cropper LLP Chartered Accountants and Statutory Auditors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

HILTON UK FOUNDATION

Contents of the Financial Statements for the Year Ended 31 December 2023

		Page
Report of the Trustees	1	to	5
Report of the Independent Auditors	6	to	8
Statement of Financial Activities		9
Balance Sheet		10
Cash Flow Statement		11
Notes to the Cash Flow Statement		12
Notes to the Financial Statements	13	to	17

HILTON UK FOUNDATION (REGISTERED NUMBER: 13225995)

Report of the Trustees for the Year Ended 31 December 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Page 1

HILTON UK FOUNDATION (REGISTERED NUMBER: 13225995)

Report of the Trustees for the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal Object of the Charity is to advance such charitable purposes as the Trustees see fit. This includes, but is not limited to, environmental protection and improvement focusing on energy, water and waste, training with a focus on careers, and community development. The Charity also provides support to young people (ages 16-30).

How to achieve this Object - The Charity will advance this Object by partnering with other registered charities (or entities pursuing charitable purposes) in line with the Charity's objectives. The Trustees will periodically throughout the year review and approve grants to organizations that further the Charity's mission.

The Charity was incorporated on 25 February 2021 with Companies House and received charitable status from the Charity Commission on 29 March 2022. The main activities of the Charity during the Reporting Period have been to continue to set up operating processes and procedures, to host two fundraising events, and to review and approve grants.

Grant making policy

Funding Priorities - The Trustees are keen to support activities that advance the Object in an effective way. However, they recognise that a limited amount of funds is available to distribute each year. The Trustees' current funding priorities are to support initiatives in the following areas

Environmental protection and improvement focussing on energy
Water and waste
Training with a focus on careers
Community development

The Trustees may occasionally award grants that fall outside the priorities, provided that they are satisfied that the grant will further the Object and is an appropriate use of the Charity's funds.

The Trustees review the grant-making priorities and principles annually.

Grant Applications - The Trustees will usually only award grants to organisations based in the UK that either

Are registered as charities with the Charity Commission for England and Wales, OSCR, the Scottish Charity Regulator and/or the Charity Commission for Northern Ireland; and/or
Qualify as charities under the law of England and Wales but are not required to register with the Charity Commission for England and Wales.

However, the Trustees may also consider proposals from charities that are established outside the UK and non-charitable organisations that are established either in the UK or elsewhere.

All grant proposals must be made in writing or on-line, using forms or methods prescribed by the Charity from time to time. Proposals must explain in detail how the grant will be used and put forward a strong case for support.

Selecting Grantees - The Trustees have ultimate responsibility for all grant-making decisions and for ensuring that all funds awarded are used to advance the Object.

When the Trustees are considering a grant-funding proposal, they will undertake due diligence checks on the applicant. The checks that are undertaken will vary according to the Trustees' assessment of any risks associated with the proposal or the applicant.

Trustees and their designated team notify grant recipients of their decision in writing and the Trustees' decision is final.

Page 2

HILTON UK FOUNDATION (REGISTERED NUMBER: 13225995)

Report of the Trustees for the Year Ended 31 December 2023

Reporting - The Trustees will take steps to monitor the use and impact of the grant and verify that the grant is used for the purposes that have been agreed. The arrangements for monitoring will vary according to the nature of the grant, but the Trustees will always seek to ensure that the arrangements are appropriate and proportionate.

Public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in the planning of future activities.

STRATEGIC REPORT

Financial position

Funding Sources - The Trustees anticipate that the principal source of funding for the Charity will be fundraising events taking place twice per year.

Reserves policy

The Charity's unrestricted reserves as of 31 December 2023 was £751,913. General funds are unrestricted or free reserves which are available for use at the discretion of the Trustees in furtherance of the Objects of the Charity and which have not been designated for other purposes.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.

Compliance with the Charity Governance Code

The Trustees are aware of the requirements of the Charity Governance Code and ensure the charitable operations comply with this code where appropriate.

Principal risks and uncertainties

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The Trustees consider the main risks to be (i) the loss of the good reputation of the Charity and (ii) the cessation of donations received. All risks are considered by the Trustee board on a regular basis and efforts are made to mitigate any risks wherever possible.

Future plans

The Charity plans to conduct fundraising activities at least twice a year.

The Charity will begin to make donations to such entities as it deems fit to continue its charitable work.

The Trustees will develop strategies to increase the profile of the Charity and identify additional fundraising opportunities.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Charity is controlled by its governing document, the Memorandum and Articles of Association, and constituted as a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

The Charity is governed by the Trustees who have a duty, acting at all times in the best interests of the Charity, to apply the Charity's assets to advance the Object and have ultimate responsibility for all grant-making decisions.

Page 3

HILTON UK FOUNDATION (REGISTERED NUMBER: 13225995)

Report of the Trustees for the Year Ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Appointment of Trustees

Any person who is willing to act as a Trustee, and who is permitted by law to do so, may be appointed to be a Trustee by ordinary resolution.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

13225995 (England and Wales)

Registered Charity number

1198428

Registered office

Maple Court Central Park Reeds Crescent Watford Hertfordshire WD24 4QQ

Trustees

S P Cassidy Director P J Farrow Vice President Ms P A Page-Champion Sr Vice President

Company Secretary

HLT Secretary Limited

Auditors

Knox Cropper LLP Chartered Accountants and Statutory Auditors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Hilton UK Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

Page 4

HILTON UK FOUNDATION (REGISTERED NUMBER: 13225995)

Report of the Trustees

for the Year Ended 31 December 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Knox Cropper LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 24 September 2024 and signed on the board's behalf by:

Ms P A Page-Champion - Trustee

Page 5

Report of the Independent Auditors to the Members of Hilton UK Foundation

Opinion

We have audited the financial statements of Hilton UK Foundation (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Page 6

Report of the Independent Auditors to the Members of Hilton UK Foundation

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is 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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Charity is required to comply with charity law and based on our knowledge of its activities, we identified
that was of key significance.

• We gained an understanding of how the charity complied with its legal and regulatory framework through discussions with management and a review of the documented policies, procedures and controls.

• The audit team, which is experienced in the audit of charities, considered the charity's susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override.

• Our approach included reviewing journal adjustments and unusual transactions.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 7

Report of the Independent Auditors to the Members of Hilton UK Foundation

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Stephen Anderson (Senior Statutory Auditor) for and on behalf of Knox Cropper LLP Chartered Accountants and Statutory Auditors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

24 September 2024

Page 8

HILTON UK FOUNDATION

Statement of Financial Activities for the Year Ended 31 December 2023

Year Ended 31.12.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Other trading activities 2 770,385 EXPENDITURE ON Raising funds 3 70,941 Charitable activities 4 Grants and Donations 478,366 Total 549,307 NET INCOME 221,078 RECONCILIATION OF FUNDS Total funds brought forward 530,835 TOTAL FUNDS CARRIED FORWARD 751,913	Period 1.3.22 to 31.12.22 Total funds £ 752,953
	227,118 -
	227,118
	525,835 5,000
	530,835

The notes form part of these financial statements

Page 9

HILTON UK FOUNDATION (REGISTERED NUMBER: 13225995)

Balance Sheet 31 December 2023

2023 Unrestricted fund Notes £ CURRENT ASSETS Debtors 10 118,790 Cash at bank 643,443 762,233 CREDITORS Amounts falling due within one year 11 (10,320) NET CURRENT ASSETS 751,913 TOTAL ASSETS LESS CURRENT LIABILITIES 751,913 NET ASSETS 751,913 FUNDS 12 Unrestricted funds 751,913 TOTAL FUNDS 751,913	2022 Total funds £ 127,351 529,796 657,147 (126,312) 530,835 530,835 530,835 530,835 530,835

The financial statements were approved by the Board of Trustees and authorised for issue on 24 September 2024 and were signed on its behalf by:

P A Page-Champion - Trustee

The notes form part of these financial statements

Page 10

HILTON UK FOUNDATION

Cash Flow Statement for the Year Ended 31 December 2023

Year Ended 31.12.23 Notes £ Cash flows from operating activities Cash generated from operations 1 113,647 Net cash provided by operating activities 113,647 Change in cash and cash equivalents in the reporting period 113,647 Cash and cash equivalents at the beginning of the reporting period 529,796 Cash and cash equivalents at the end of the reporting period 643,443	Period 1.3.22 to 31.12.22 £ 524,796
	524,796

	524,796 5,000
	529,796

The notes form part of these financial statements

Page 11

Notes to the Cash Flow Statement for the Year Ended 31 December 2023

HILTON UK FOUNDATION

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

				Period
				1.3.22
			Year Ended	to
			31.12.23	31.12.22
			£	£
Net income for the reporting period (as per the Statement of
Financial Activities)			221,078	525,835
Adjustments for:
Decrease/(increase) in debtors			8,561	(127,351)
(Decrease)/increase in creditors			(115,992)	126,312
Net cash provided by operations			113,647	524,796
ANALYSIS OF CHANGES IN NET FUNDS
	At	1.1.23	Cash flow	At 31.12.23
		£	£	£
Net cash
Cash at bank	529,796		113,647	643,443
	529,796		113,647	643,443
Total	529,796		113,647	643,443

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

Page 12

HILTON UK FOUNDATION

Notes to the Financial Statements for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES

		Period
		1.3.22
	Year Ended	to
	31.12.23	31.12.22
	£	£
Fundraising events	770,385	752,953

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continued...

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

HILTON UK FOUNDATION

3. RAISING FUNDS

Raising donations and legacies

Year Ended 31.12.23 £ Fundraising expenses 62,781 Support costs 8,160 70,941	Period 1.3.22 to 31.12.22 £ 216,770 10,348
	227,118

4. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Grants and Donations GRANTS PAYABLE Year Ended 31.12.23 £ Grants and Donations 478,366 The total grants paid to institutions during the year was as follows: Year Ended 31.12.23 £ Aurora Fee Ltd 65,000 Charities Aid 73,366 Willow Foundation 80,000 Unseen UK 65,000 Springboard 65,000 Landaid 65,000 Downs Syndrome 65,000 478,366	Grant funding o activities (see note 5) £ 478,366
	Period 1.3.22 to 31.12.22 £ -
	Period 1.3.22 to 31.12.22 £ - - - - - - -
	-

5. GRANTS PAYABLE

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continued...

HILTON UK FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

6. SUPPORT COSTS

	Governance
	costs
	£
Raising donations and legacies	8,160

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

		Period
		1.3.22
	Year Ended	to
	31.12.23	31.12.22
	£	£
Auditors' remuneration	6,000	6,000
Auditors' remuneration for non audit work	2,160	4,320

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the period ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the period ended 31 December 2022.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted
	fund
	£
INCOME AND ENDOWMENTS FROM
Other trading activities	752,953
EXPENDITURE ON
Raising funds	227,118
NET INCOME	525,835
RECONCILIATION OF FUNDS
Total funds brought forward	5,000
TOTAL FUNDS CARRIED FORWARD	530,835

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continued...

HILTON UK FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accrued expenses
12.
MOVEMENT IN FUNDS
At 1.1.23
£
Unrestricted funds
General fund
530,835
TOTAL FUNDS
530,835
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
770,385
TOTAL FUNDS
770,385
Comparatives for movement in funds
At 1.3.22
£
Unrestricted funds
General fund
5,000
TOTAL FUNDS
5,000

2023
2022
£
£
118,790
127,351
2023
2022
£
£
-
115,992
10,320
10,320
10,320
126,312
Net
movement
At
in funds
31.12.23
£
£
221,078
751,913
221,078
751,913
Resources
Movement
expended
in funds
£
£
(549,307)
221,078
(549,307)
221,078
Net
movement
At
in funds
31.12.22
£
£
525,835
530,835
525,835
530,835

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continued...

HILTON UK FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 752,953 752,953	Resources Movement expended in funds £ £ (227,118) 525,835 (227,118) 525,835

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

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