Charlty re8i5tration number 1198707 THE HARDY FAMILY FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 THE HARDY FAMILY FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trnstees V Hardv AJ Hardy H Hardv Charlty number 1198707 ReRi#ered offi Flat 2 15 Enfield Road London United Kingdorn NI SEN Independerf examiner Sedulo London Limited Office 605 Albert House 256- 260 Old Street London Untyj Kingdom ECIV 9DD THE HARDY FAMILY FOUNDATION CONTENTS P38e Trustees, report Indepe1￿ent eyaminees rÈport ststernent of financial attNitles Balènce sheet Statement of cash lows Notes tothe financial statrments 7-11 THE HARDY FAMILY FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustee5 present thelr annual retx)rtand financi61 statements forthe yearended 31 December2023. The fTnancial ststements have been prepared in accordan￿ with the accounting PDlltles set out In note I to the financial statements comply wtth the charity's tonstitution the Charities Art 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applKable to charitie5 preparing their accounts in accordan￿ wlth the Fina•cial Reportlng Stsndard applicable inthe UKand Republic of Ireland IFRS 1021" OblectNe5 and adlvltle5 Objective5 and aim5 The objetts of The Hardy Family F(xJndatknn Ithe-Foundation"l are to advaTrce such charitable purposes atcording to law ol England and Wale5 as the TnE#ees see fit from time to time. However, the TrusteÈs have determinÈd that the current priorit*S for funding will be the arts, autism spettrurn disorder and attention deficit hyperattwity disorder. cancer, child and youth, dementia. the environment. foetsl akohol spectrum disorder, f(KxI wverty, hotnele5sness. LGBTQIA+. refugees and women's issues. with priority given tocharitiÈs/projects which will benefit those In the East London and East Xent arèas. The FoundatK)n focusses ￿ providingfunding to existing charitFÈs whose objects fall W￿lty or partty within the obFe¢ts of the Foundation. with a particular emphasis on supportln8 longer terni I multryear projects which charities might otherwlse struggle to estsbjish due to income uncertainty. Public benefft The Trustees have given due totksideration to the Charty Commiss*on published guIdar￿￿ on the 0￿ratIon of the publlc benefrt requirernent when reviewing the Foundation's aims and objectives and in planning the FoundatlQn'5 current and fvture activities_ The 3chievetYEnts and attNitiÈs outllned in this reFQrt demonstrote the public benefrt arising from the Foundation's activitie5. hie4emerrt5and perfman Charltsble activitSes During the period l January 2023 to 31 Decem￿r 2023. the Foundation cOns￿ered tsvo rounds of funding 3pplic•tions lone for applications retrived on or prior to 31 December 2022 and one fo[ applicatlOll5 recewed on or prior to 30 June 20231. Following such consideration, the Foundation disbursed 8 totsl 01 £69.599 in the peiiod among 15 registered tharitie5 during 2023. During the perK)d, the Foundation a150 committed a further £32.5￿ to ￿ disbuF5ed in 2024 £19,8(A) to bÈ disbursed in 20251 givinga total of £122.2991 In grants approved duringthe persod. Financial review Fin4n¢ial PO￿tI¢mI During the perlod l January 2023 to 31 Detrrnter 2023, the Foundation received income of £503.123 12022.. £250.1371, consisting of £350.IXXI12022.. £250.0001 in donations from a Trustee, £150.74012022.. £Nill in grft ald £2,38312022.. £1371 in interest incorne on its deposits (this interest income does not include any accrued but unpaid interest on fixed term dep05it51. Expenditure for the periLKI was £72,58812022= £2,6921. consist1￿ of £69.599 12022= £N¢ll in grants distyjrsed and U,989 12022- £2,6921 in other expen5e5. Wtth f 52,7CK> reserved forgrants committed to be paid in 2024 and 2025 and £537 reserved forfees, FourKlatH)n has a not carr￿d forward balance of £624.74312022.. £247.4451 all of which consi5t5 of unrestricted fund5. THE HARDY FAMILY FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Reservespollcy It is the pjllcy of the charity that unrÈttritted funds which havÈ not been de4nated fora 5ppcrfIc use shtsuld be rnaintained at a level equivalent to ￿tween three and six month's Èxpenditure. The tnjstees consider that reseNes at thi5 leYÈl will ensure that, in the evert of a Significant drop in funding, they w511 be able to continue the charo's current actSvltSes while consideratlon is given to ways in which addltlonal funds may bÈ f6i5ed. This level of reserve5 ha5 been maintsined throughcut the year. As the frNJndation has no employees or pTern￿e$ and ttrErefore minirnal running costs. 5ignrficant reseryes based ors e¥penditsJre will rK)t be required. FUTURE PLAN5 The Foundation has al￿&Y disbursed its firttgrants in 2024 lin Tespett of applications r￿1ve{l up to 31 December 20231 and expects to make a second round of 8rantfunding In 2Q24 In respettof applications receNed on or before 30 June 2024. In view of the intention to seek to fund PTojerts on a longer-term basi5 and articipating that the Foundation's incorne will redu￿ SiEnifiiantly in 2024 and in subsequent years, the Trustees have determined to invest 50rne of the Foundation's funds with a view to increa&nE the overnll amourtdue for dfjstrlbution 0s*r the next decade or More. such Investments may include bank deposits and equities. Struttu￿, 8ffftman(e and m•nagemEnt The charity lsm¥)trolled by its 8￿mIngdoCuMenL a con5trtutlon, and constrtutes a charftable incorporated organisatlon. The trustees who *rved duringtheyearand upto the date of signature of the finall¢ial statemerts were= V Hardy AJ Hardv H Hardy RecrL¢ltment Gnd oppthntment of trustees On appointment, new Trustees accept a TrLK%tee declaratlon statement committing them to the gEving of their timÈ and expertise. There is currentty no formal Induttion program for any newly apwnted Trnstee other than a meetfjng wfth t Chair person and other Trustee5. The truttÈes' report was approvèd by the Board of Trustees. AIHa Date.. THE HARDY FAMILY FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HARDY FAMILY FOUNDATION I report to the tru5tee5 or5 my examination of the financial statements of The Hardy Fam¢ly Foundation (the chorityl for the yearended 31 DecemtEr2023. Respr#)dbifitlesaThd baslsof rewt A5 the trustees of the charty you a￿ responslble ftFr the preparation of the financial 5tstements in acctsrdance with the requirements of the Charitie5 Act 2011 (the 2011 Act). I rerort in respett of my exalnination of the charrf5 financial statements carried out under section 145 of the 2011 Act. In rrylng out my e￿minatIon I have followed all the applicable Dlrettions given by the Charity Commission under section 14515llbl of the 2011 ALt. Independent examlner's 51aternent Since the charivs 8ross income exceeded £250.(KX) your exatniner must ￿ a member of a bcrtly lthd in section 145 of the 2011 Act. I confirm that l am qualified to Underta￿ the examlnatK)n because l am a member ol the A5stsciknon of Chartered Certified Accountants, which 15 one of thÈ listed bodles. Your attention is drawn to the fatt that the charity has prepared financiol ststements in accordance with Accounting and Reporting by Ch&rities prÈparing their accounts in accordance with the Financlal Rewrting stsndard applicable in tIE UK and Republic of IrÈlant5 IFRS 1021 in wekrence to the Acc(yJntinKand Re[K)rtIr￿ by Charitles.. Ststement of Recomrnended Practkce issued on l April 2005 which 15 referred to irTr the extant regulations but has now been withdrawn. l under$tsr￿ that this has been done in order for financ￿lSta1eff￿nts tts provide a true and fair view in aCcOrdar￿ wsth Generally Accepted Accounting PractiCeeffeCt￿ for ￿porting periods beginningon or after l January 2015. I have completed my eyamin*ion. I conf*mi that matters have come to my attention in connecw)n wrth the examination gi￿ng me cause to believethat in any material ￿Spect.. accounting records were not kept in respect of the charity as requlred by settion 130 of the 2011 Art- or the financial statements do not accord with those ￿COrdS.. or the fin8ncial Statements do not cornpty with the applicable requirements conceming the form and content of accounts set out In the CharY(ies (Accounts and Reports) Reguladons 21KJ8 other than any requirernent that the actounts give a true and fairview which 15 fK)t a matter consldered as part of an independent ￿MInat￿)n. I have no concerns and have come acr055 no othei matters in tt>nnettion with the exarnination to which attention should be drawn In this report ln ofderto ena14e a proper urxler5tsndifigof the financial ststements to be feached. DaniÈl Wilson FCCA Sedulo London Limiied Office 605 Albert House 256- 260 Old Street London ECIV 9DD LJnite(f Kingdom Dated.. 25 July 2024 THE HARDY FAMILY FOUNDATION STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER2023 unT￿l￿(led funds 2023 fvnd5 2022 Incomefrom.. Donations and le￿tIeS Irwestrnents 5W.740 2.383 250.000 137 Total income 503,123 250,137 Expenditure on: Charitable activittes 72,588 2.692 Total expendFlure 72,588 2,692 Net In¢ome and movement in funds 430.535 247.445 Recondliati¢Jn of funds.. Fund balantrs at l January 2023 247,445 Fund balances at 31 De￿mber 2023 6T1.980 247,445 The statement of financial activf(ies includes all ￿1n$ and losses ￿c08r￿15ed in the year. All Income ar￿ expenditure derNe from tontinuirTrg artivtties. THE HARDY FAMILY FOUNDATION BALANCE SHEEr AS AT31 DECEMBER2023 2023 2022 Curren¢ assets Cash at bank and in hand 681.796 249,245 Creditors.. amourtsfalllng duewilhin ￿ year io 130161 11.8(M)I Net current 4S5Ets 677.980 247,445 Net a55d$eXdydl￿ pension liability 677.9&1 247,445 Thefunds ofthe charliv Unre5tritted funds 677.980 247,445 677.980 247,445 a..4..fuLY aoa+ The financial ststements were approved by the trustees on... AJHa Trustee THE HARDY FAMILY FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2022 Cash fl(p*o from operatlr* a¢tNff(ies Cash generated from operation5 14 430.168 249.108 Irwestlng activttles Investment income received 2.383 137 Netts5h generated from irwestSn8 arttvttles 2,383 137 Netcash used In flrtanclry a¢tivities Net Increase In cash cash ewlvalents 432.551 249,245 Cash and cash equivalents at bewnnlng of year 249,245 Cash and cash e4ul¥alents at end of ￿ar 681.796 249,245 THE HARDY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 0ECEMBER2023 Attountlngpolic￿s Charlty Informaiion The Hardy Family F¢)undation is a Charitrble In¢orpornted Owdnisatson. 1.1 Accountlng conventSon The financial 51aternerrts been prep6red in atc0rdon￿ with the charity's govemiri8 documenL tIE CharKtie5 A 2011, FRS 102 °The Financial ReKY)rting Standard applicable in the UK and Republic of I￿land- I-FRS 102"18nd the CharIt￿S SORP "Accounting and Reporting by char￿es.. Ststement of RetOTnmendÈd Prdrtice applitable to charlties preparing their accounts in accordance wi(h the Financial Reporting Standard applicable in the UK and Republic of I￿land IFRS 1021" leffective ljanuary 20191. The charity is a PublK Be￿rrt Entity a5 delined FRS 102. The flnancial statements are prepared in stedin& which Is the functIc￿al currency of the charity. Monetsry arnounts in these financial statements are rounded to the nearest £. The flnancial smements have ￿en prepared under the h￿orK￿l cost CODvention. The principal accounting p)lic￿5 adopted are set out bek)w. 1.2 Going contem At the tiffle of a5)proving the financial strtements. the twstees have a reasonable expectstion that the charty has adequate re￿UrCeS to continue in 0￿ratIonal exlstentr for the foreseeable future. Thus the trustee5 Cortlnue to adopt the going concem basis of accounting in preparinBthelinandal staternent& 1.3 Charltable fvnds Unrestritted furxls are availablefor use at the discretion of thetrL$5tees in furtI￿ror￿e of theircharitsble objettNes. Restricted fund5 are subjett tts specifK conditions by donors orgrantors as to how t￿Y may be used. The purposes and uses of the restritted funds are setout in the notes to the financial ststements. Endowmentfijnds are SLibjerttospecthttondttions by donors thatthe capkal must ￿ mainralned bythe charty. 1.4 Inwme Income is recognised when the charity is legalty entitled to it after any perfomiance Cond￿On5 have been met, the mounts tan be measured rÈliabiy. and it is probable that intome will be received. Cash donations are recognised on recelpt. Other donatlons are recognlsed once the charfty has been notlfied of the donation. unlÈss performance conditions require deferral of the amount. Income tax recoverable in relath?n to donètions re￿iVed under Gfft Akl ordeeds of covenant Is recognised atthe tirne of the donat￿n. 1.5 Expendfture Expend((U￿ is recoenised once thefe is a keal or constructive obligation to transfer economic I￿nefIt to a third party, it 15 probablÈthat a transfer of economic benefits will be required in settlement. and the amount of the obligation tan be measured reliably. Expenditu￿ is classified by acbvty. TIE costs ol each attwity are made up of the totsl of direct costs and shared costs. including support costs involved in undertaking each actwity. Dirett costs attributable to a single rs and Cash and bank balance5, a￿ Initial￿ rr*&surÈd at transattion price including transattion costs and are subsequently carried at amortised cost Using the effettwe interest method unless the arrangement constitutes a financing transaction. where the trdnsattion ￿ measured at the present value of t future receipts discounted at a market Tate of interest Financial assets cla55ified as re￿Nable within one year gre not amorti5ed. 8a5i¢Alnon¢it¥lliubilities Basic finanoal liabilities, includin8 creditor5 and bank loan5 a￿ irtfcially recoKnised at transatth)n price unless the arrangement constitute5 a financsnK transaction, where the debt itstrument is mèasured at the present value of the future payrnents dixountÈd at a market rate of interest. Flnancial liabilities classlfSed as payabk wlthln one year are not amortised. Debt instruments are subsequentty carrEd at amortlseil c05L using the effertwe irrtorest rBtr method. Trade creditors are obligations to pay for goods OT service5 that have been acquired in the ordinary course o* operation5 from 5upplier5. Amounts payable a￿ cL3ssified as currÈnt liabilities if payment is due wfthin one yearor less. If not. they are presented 35 non-current liabi1itiÈs. Trade Creditors are recognised initially at transattion pri￿ subsequently tnea5ured at ￿tr￿rtISed ty usin8 the effective interest methtsl. Derecognitlon offint7n¢it711iobllities Financial liabilities are derecogTr￿d when thÈ ¢haritVs tontsartual obllgatlons explre orare dlsch8rged or cancelled. Intome fmm dort￿10￿$ and leBa£ies Unrestrlcted fvnd5 2023 Unrestrlcted fvnds 2021 Gift Aid l)onations 150,740 350.(KI) 250.C(K) 51X).740 2￿,(KK) THE HARDY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Incomefrom 1rNe51￿ Vnre5tricted Unrestricted funds funds 2023 2022 Deposit account intefe5t 137 Expenditure on tharilable actY¥llies Pr(Ni&¢)n of ProAsitin of grantsto grants to charitsble charitable errtities entities 2023 2022 DSrert costs Grant funding of attNities (see note 51 69.599 Share ofsupport and govemance msts (see nLrte 61 Support Governan 1,189 1.800 892 1,800 72,588 2.692 Anatysts by fund Un￿￿rItted furK15 2.692 THE HARDY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER2023 Grdnts payable Pr¢wision ol grantsto haritable entlties 2023 Grantsto insti(utions- Porchlight Caudwell Children Achieved Drearns The Respite Association Teenage CantrrTru5t Hestia Housineand Support Tankerton Football Club Kent RefugeeActlon Network Crackerjack 0085 of thÈWorld UK Dandelion Time University of Kent Family Holiday Charity Cats Protection Other 4,949 3.3 3,300 3,050 S,Cl)O s,o)o 69.599 Support C05t5albxated to ￿l¥{tieS 2023 2022 Support costs Governance costs 1.189 1.8 1,800 2.989 2,692 Analysed bets4een: Provision of Erantsto charitsble entities 2,989 2.692 Trustees None of the trustees lor any person5 connected with them) received any rernUnerat￿n or benefits from the charlty during the year. 10- THE HARDY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER2023 Employee5 The average Tnonthty number ofempbyees duringthe yearwas". 2022 Number Numl>er Totsl The￿ were no empk)yees whose annual femuneratlon wa5 more than £60.fKKS. Taxation The charity 15 exempt frQmtsXat￿n on tts activibes because all tts [r￿Ome is applied forcharitsble pJrpose& Creditry>" amounts fallbn8due withitt oneyear 2Q25 2022 At¢ruals 2nd delerrÈd incom 3,816 1,800 Unrestrfcted funds rhe unyestrirted funds of the charity cornprise the unexpended balances of donations and grants which are not subjett to spe¢ifit condition5 by donor5 aThd grdntors as to how they may be used. These include deS￿nated funds which have been set aside out of unrestritted funds by the trusteesfor specific purwse At ljanuary 2023 In¢oming Re50UftesAI 31 Deomber expended 2023 General funds 247.445 503,123 172,5881 677,980 Previous year At ljanuary Incoming Resource5 At 31 December 2022 General funds 250,137 12.6921 247.445 Cortin8ent Liablllties The charity has committed to payiThg further grants to institutions amounting to £52.700 wtth £32.900 expected to be paid in 2024 and £19,8O) expected to be paid in 2025. Mutti-year grant agreements have been 518ned for these, however. thÈ instFtution must te-ap￿V ftsT these funds and be re-approved by the charity bÈfoTe payrnent is mode. The commltnRntwill be funded by unrestritted funds. THE HARDY FAMILY FOUNDATION NOTES TO THE FINANaAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Related partytransa¢tSons In the period ended 31 December 2023, the ¢harty reowed dOna￿on5 totaling £350.￿0{2022- E250,CK)01 frorn A J Hardy* a trustee. Cash generated fmm operatlon5 2023 2022 Surplus forthe year 430.535 247.445 Adjustments for= Investment income reco8lli5ed in 5tatsment of financlal activrties 12,3831 11371 Mov@ments in workingcapltal= Increase in creditOT5 2.016 L800 Cash generated from operath? 430.168 249,108 12