Charity number. 1199605
HAYSAC FOUNDATION
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

HAYSAC FOUNDATION
CONTENTS
Page
Reference and administratlve detalls of the charity, its Trustees and advisers
Trustees, report
Independent Examiner's Report to the Trustees of
the Haysac Foundation
statement of financial activities
Balance sheet
Notes to the flnanclal statements
9-16

HAYSAC FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2024
Trvstees
Dr Neil Harbury, Chair
Angela Harbury, Trustee
Evangeline Harburyi Trustee
Daniel Harburyi Trnstee
Charity registered
number
1199605
Principal offlce
Elsley Ctsurt
20-22 Great Titchfield Street
London
WIW 88E
Ac¢ountsnts
SRLV LLP
Chartered Accountants
Elsley Court
20-22 Great Titchffield Street
London
WIW 8BE
Independent examiner Robert Sadler and Company Ltd
Chartered Accountants
30B Southgate
Chichester
West Sussex
P019 IDP
Page 1

HAYSAC FOUNOATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees p￿sent their annual report together with the financial statements of the Haysac Foundation
for the year I September 2023 to 31 August 2024. The annual report serves the purposes of both a
trustees. report and a directors. report under company law. The Trustees confirm that the annual report and
financial ststements of the charitable company comply with the current statutory requlrements, the
requirements of the charitable cornpany's governing (tocument and the provisions of the Statement of
Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the
FinancSal Reportlng Standard applicable 14) the UK and Republbc of Ireland (FRS102) leffectlve l January
2019).
Objectives and actlvities
a. Policies and objectives
The objective of the charity as to provlde donation5 to charitie5 and other charitable organisations.
b. Fund ral$lng and other poll¢le$
The fL¢ndino for the foundation is entlrely from the private income and resources of the Harbury famlly and
companies they control, and the foundation does not seek funding from the public or from any other bodies.
The foundation has a policy that no Trustee shall ￿te1ve any payment except for travel expenses when
travelling specifically on the business of the foundation. The Tnjstees meet regularly to consider decisions
on donations and ensure the proper governance of the foundation.
Achievements and performance
a. Review of activitles
This is the foundation's second year of operation in which it received donations totalling £40,000 (2023
£158,900) which was all received as donattons from the Harbury family and companies they control and all
funds ￿Ceived were unregtrirted.
During our second year the foundation has deveSoped it5 approach to donations, and been pleased to
engage more closely with a number of charities we are supporting. Within the total donations this year of
Just under ÉIOO,000 we have worked particularly with two charities. Ethiopiaid has been running successful
projects in the country for over thirty years. Their ft)cus on working through local charities on the ground
has been one of the reasons we have been pleased to support educational and health projects though their
programmes. Only A Pavement Away is a charity working to bring those who are homeless including former
members of the armed force5 and prison le6vers into employment in the hospitality industry. Their highly
successful projects and innovative approach ha5 encouraged us to continue our support for thern.
We have also tried to respond to events, such as the floo(Js in the Czech Republic, and to ￿COgnISe the
need for charitable support to those working with the less fortunate around Christmas. In addition we have
supported charities working in a wide range of areas including hospi￿ care and mental health support. We
will continue this work in the coming year. The TrtSStees ￿Ceive a large volume of emails and letters from
charities seeking support and all of these are considered and have led to sorne donations being made.
Page 2

HAYSAC FOUNDATION
TRUSTEES. REPORT ICONTINUED}
FOR THE YEAR ENDED 31 AUGUST 2024
Achievemènts and performance (contSnued)
Expenditure breakdown:
Adfflin expen
LknTralions loEth-
OtherdoTraliDns
Lknnalions loonlya P3vvnent
Aw3V
i Donats-ons lo On￿? PavemeTrl Away
Other donat10Tr5
Admin expenses
The foundatlon operates through decislons of the Trustees to make donatlons in accordance with the agreed
Grant Makirig Pollcy to charities which have been Identlfled as working In areas of interest to one or rnore
Trustee5. Due diligence is undertaken prior to any donations being made and the Trustees ask recipients to
provide a report on the activities whlch have been funded. The Foundation ensures that relevant decisions
are taken in accordance wSth the Charity Commission public benefit guidance.
The foundation generated a deficit of £70,468 {2023 - £68,831 5urplusl. The deficit was accounted for by
deducting expenditure of £110,863 12023 - 90,805) from donatlons totalllng £40,000 (2023 - £158,900)
and bank interest received of £395 {2023 £736).
Flnancial revièw
a. Golng concèrn
After making approprlate enquiries, the Trustees have a reasonable expectation that the charlty has
adequate resources to continue in operational existence for the foreseeable future. For this reason, they
contlnue to adopt the going concern basis In p￿parIng the financial statements. Although the balance sheet
showed an insolvent position as at 31IQ812024, this was a temporary posltion that was reversed by the
receipt of an unrestricted donation of £10,000 after the year end on 1910912024.
Page 3

HAYSAC FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2024
b. Re$erves polity
The Trustees belleve there 15 no need to set a mlnlmum level of reserves as activity expenditure is related
directly to current levels of income. They consider this approach to be sufficient given the nature of the
charlty.
Structurei governance and management
Constitution
Haysac FoundatSon Ss a reglstered charlty, number 1199605, and Is constituted under a Constitutlon of a
Charitable Incorporated Organisation.
b. Methods of appointment or electlon of Trustees
Apart from the first Foundation Trustees, every subsequent Trustee must be appointed for a tem) to be
decided by a resolution passed at a properly convened meeting of the Foundation TrLtstees.
Page 4

HAYSAC FOUNDATION
TRUSTEES. REPORT ICONTINUED}
FOR THE YEAR ENDED 31 AUGUST 2024
statement of Trustees. responsibilitles
The Trustees a￿ ￿sponsible for preparing the Twstees, report and the financial statement5 in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
The law applicable to charities In England & Wales requires the Trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affalrs of the charity and of its incomlng
resources and application OF resources, including its income and expenditure, for that period. In preparing
these flnancial statements, the Trustees are requlred to..
select sultable accounting policies ènd then apply them consistently,.
observe the methods and principles of the Charltles SORP (FRS 102),.
make judgements and accounting estimates that are reasonable and prudent.
state whether applicable UK Accounting Stsndards IFRS 102) have been followed, subject to any
materlal departures disclosed and explained in the flnancial statements,.
prepare the financial 5taternents on the golng concern basis unless it is inapproprlate to presume that
the charity will continue In business.
The Trustees are ￿sponsible for keeping adeouate accounting records that are sufricient to show and
explain the charity's transactions and disclose with reasonable accuracy at any tlme the finaneial position of
the chartty and enable them to ensure that the financial statements comply with the Charities Act 2011, the
Charity (Accounts and Reports) Regulations 2008 and the provislons of the constitution. They are also
responsible for safeguarding the assets tsf the charity and hence for taking reasonable steps for the
prevention and detecb.on of fraud an(fj other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Dr Neil Harbury
(Chair of Trustees)
Date:
Page 5

HAYSAC FOUNDATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE HAYSAC FOUNDATION
FOR THE YEAR ENDED 31 AUGUST 2024
Independent examiner's report to the trustees of the Haysac Foundation
I report to the charity trustees on my examination of the accounts of the Haysac Foundation (the
FoEJndation) for the year ended 31 August 2024.
Responsibilities and basis of report
As the charlty trustees you are responsSble for the preparatlon of the accounts In accordan￿ wlth the
requirements of the CharitFes Art 2011 I'the Art'l.
I report in respect of my examination of the Foundation's accounts carried out under section 145 of the Art
and in carrying out my examination I have followed all applicable Directions given by the Charity
Commission under Section 145(5){b) of the Act.
Independent examiner's statement
I have completed my examlnatlon. I confirm that no materlal matters have come to my attentlon In
connectson wlth the examlnatlon giving me cause to believe that in any material respert..
accountSng records were not kept In respect of the Foundation as required by Section 130 of the
Act,. or
the accounts do not ac¢ord with those rectsrds,. or
the accounts do not comply with the applicable requirernents concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts glve a true and fair vlew which Is not a matter consldered as part of an independent
examlnatlon.
I have no concerns and have come across no other matters in connection wrth the examination to which
attentlon sho*Jld be drawn in this ￿port in order to enable a proper understanding of the accounts to be
reached.
Mr Robert Alistair Sadler FCA
The Lnstitute of Charte￿d Accountants In England and Wales
Robert Sadler & Company Ltd
Chartered Accountants
30B 5outhgate
Chichester
West Sussex
P019 IDP
Date:
Pa9e 6

HAYSAC FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestricted
fund5
year ended
31 August
2024
Total
Total
funds
funds
year ended period ended
31 August
31 August
2024
2023
Note
Xncome from:
Donatlons and legacies
Envestments
40,000
395
40.000
395
158,900
736
Total income
40,395
40,395
159,636
Expenditure on:
Charitable activltles
110,863
110,863
90,805
Total expenditure
110,863
110,863
90,805
Net movomont in funds
(70,468)
(70,468)
68,831
Reconeillation of funds:
Total funds brought forward
Net movement in funds
68.831
(70,468)
68,831
(70.468)
68,831
Total funds carried forward
(1.637)
{1.637)
68,831
The notes on pages 9 to 16 fom) part of these financbal statements.
Pa9e 7

HAYSAC FOUNDATION
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
Current assets
Debtors
Cash at bank and in hand
72
857
71,397
929
71,397
Creditors.. amounts falling due within one
year
(2,560)
{2,566)
Net current Ilabilities / assets
(1,637)
68,831
Total assets less current liabilities
(1,637)
68,831
Net liabilities / assets excluding
pension asset
(1,637)
68,831
Total net assets
(1,637)
68,831
Charity funds
Restrirted funds
io
Unrestrlcted ftjnds
io
(1.637)
68,831
Total funds
(1,637)
68,831
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf
by:
Dr Nell Harbury
(Chair of trustees)
ZD2f
Date..
The notes on pa9es 9 to 16 form part of these firbancial staternent5.
Page 8

HAYSAC FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
General Informatio
aysac Foundatlon Is a Charitable Incorporated Organlsation ICIO), with charlty registration number
1199605 for which jurisdiction is England and Wales. The registered oflice address is Elsley Court,
20-22 Great Titchfield Street, London, WIW 8BE.
Accountlng pollcles
2.1 Basis of preparation of flnancial $tatements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charltles= Statement of Recommended Practice applicable to
charities preparing their accounts in accordan￿ wlth the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 102} leffective l January 20191, the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Art 2011.
The financial statements have been prepared to give a 'true and fai￿ view and have departed
from the Charities {Accounts and Reports) Regulations 2008 only to the extent required to
provide a 'true and fail view. This departure has Involved following the Charities SORP (FRS
102) published in October 2019 rather than the Accounting and Reporting by Charltles..
Statement of Recommended Practice effective from l April 2005 which has since been
withdrawn.
Haysac Foundation meets the definition of a publlc benefit entity under FRS 102. Assets and
liabilities are Initially recognised at historical cost or transaction value unle55 Otherwise stated In
the ￿levant accounting policy.
2.2 Golng Concern
After making appropriate enquirie5, the Trustees have a reasonable expectatlon that the charity
ha5 a(tequate resources to continue in operational existence for the foreseeable future. For thSs
reason. they continue to adopt the going concern basis In preparing the financial statements.
Although the balance sheet showed an insolvent position as at 3110812024, this was a temporary
position that was reversed by the receipt of an unrestricted drination of £10,000 after the year
end on 1910912024.
2.3 Income
All income is recognlsed once the charity has entitlement to the income, it is probable that the
income will be received and the amount of it)eome receivable can be measured reliably.
2.4 Expenditure
Expenditure is recognised once there is a legal or construrtive obllgation to transfer economic
beneflt to a third party, it is probable that a transfer of econornic benefits will be required in
settlement and the amount of the obligation can be measured re11ably. Expenditure is classified
by activity. The costs of each activity are made up of the total of dlrect costs and shared costs,
including support costs involved in undertaking each activity. Dirett costs attributable to a single
activity a￿ allocated dlrectly to that activity. Shared costs which contribute to more than one
activity and 5LlPPOrt costs which are not èttributable to a single acttvity are apportioned between
those activities on a basi5 cons1Stent with the use c)f resources. Central staff costs are allocated
on the basis of time spent, and deprecsatlon charges allocated on the portion of the asset's use.
Expenditure tsn charitable activities Is incurred on directly undertaking the artivities which further
the charity's objectives, as well as any associated support costs.
Page 9

HAYSAC FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accountin9 policies {continued)
2.5 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity,. this is normally upon notification of the interest paid or payable by the
Institutlon with whom the funds are deposlted.
2.6 Debtors
Trade and other debtors are recognlsed at the settlement amount after any trade discount
Offe￿d. Prepèyments are valued at the amount prepaid net of any trade dlscounts due.
2.7 Cash at bank and irt hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acouisltion or openlng of the deposit or simllar
account.
2.8 LiJbilitié$ and provisions
Liabilities are recognised when there 15 an obligation at the Balance sheet date as a ￿sUIt 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.
Liabilitie5 are recognised at the amount that the charSty anticipates It will pay to settle the debt
or the amount it has received as adVan￿d payments for the goods or services it must provide.
Provisions are meaSU￿d at the best estlmate of the amounts required to settle the obligation.
Where the effett of the time value of money Is material, the provision is based on the present
value of those amounts, discounted at the pre-tax di5COUllt rate that reflects the risks specific to
the liabillty. The unwlndlng of the discount is recognised in the Statement of financial artivities
as a flnance cost.
2.9 FinJn¢i?l ifftstruments
The charity only has financial asset5 and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans whtch a
subsequently measured at amortised cost using the effective interest method.
2.10 Fund accounting
General funds are unrestricted funds which Jre available for use at the discretion OF the Trustees
in fvrtherance of the general objertives of the charity and which have not been designated for
other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 10

HAYSAC FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
In¢ome from donations
Unrestricted
Total
funds
funds
year ended year ended
31 August
31 August
2024
2024
Donations
40,OOCI
40.000
Unrestricted
Total
funds
fund5
period ended period ended
31 August
31 August
2023
2023
Donations
158,900
158,900
Bank interest recelvablo
Unrestricted
Total
funds
funds
vear ended year ended
31 August
31 August
2024
2024
Inte￿st income
395
395
Unrestricted
Total
funds
funds
perFod ended period ended
31 August
31 Augtjst
2023
2023
Interest income
736
736
Page 11

HAYSAC FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
Total
year ended year ended
31 August
31 August
2024
2024
Dlrett costs and support costs
110,863
110,863
Unrestricted
funds
Total
perSod ended perfod ended
31 August
31 August
2023
2023
DI￿rt costs and support costs
90,805
90,805
Analy$r$ of expendlture by actlvltle$
Act¢vities
undertaken
directly
year endèd
31 August
2024
Support
Total
costs
funds
year ended year ended
31 Au9USt
31 August
2024
2024
Direct Costs and support costs
99,920
10,943
110,863
Activities
undertaken
Total
d¥rertly Support costs
funds
pe￿0d ended period ended period ended
31 August
31 August
31 August
2023
2023
2023
Direct costs and support costs
73,010
17,795
9Q,805
Page 12

HAYSAC FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Analysis of expenditure by activitlés (continued)
Analysis of dlrect costs
Total
Aetivities
funds
year ended year ended
31 Au9USt
31 August
2024
2024
Donations pald
99,920
99,920
Totsl
Activitie5
funds
period ended period ended
31 August
31 August
2023
2023
Donations paid
73,010
73,010
Analysis of support costs
Total
Activities
funds
year ended year ended
31 August
31 August
2024
2024
Bank charges
Admlnlstratlve support
Printing, postage and statlonery
Governance costs
23
23
10,000
20
900
10,000
20
900
10,943
10,943
Pagg 13

HAYSAC FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Analysis of exponditure by activities (Continued)
Analysis of support costs (continued}
Total
Activitie5
Funds
period ended perlod ended
31 August
31 August
2023
2023
Bank charges
Adrninistrative support
CorrTrputer expenses
Governance costs
30
16,667
198
30
16,667
198
900
900
17,795
17,795
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits {2023 - £NILI.
DU￿ng the year ended 31 August 2024, no Trustee expenses have been Incurred (2023 - NIL).
Debtors
2024
2023
Due wlthln one year
Other debtors
72
Creditors: Amounts falling due within one year
2024
2023
Accruals
2,566
2,566
Page 14

HAYSAC FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. ststement of funds
statsment of funds- current year
Balance at
I September
2023
Balanco at
31 August
2024
Income Expenditure
Unrestricted funds
Reserves
68.831
40,395
{110,863)
(1.637)
Statement of fund¥- prior year
Balance at
31 Augusr
2023
Income Expenditure
Unrestricted funds
General Funds - all funds
159,636
(90,805)
68,831
11. Summary of funds
Summary of fund$- current year
Balance at
I September
2023
8alance at
31 August
2024
Income Expendlturè
General funds
68.831
40,395
(110,863)
{1,637)
Symmary of funds- prlor year
Balance at
31 August
2023
Income Expendlture
General funds
159,636
(90,805)
68,831
Page 15

HAYSAC FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
12. Analysis of net assèts between funds
Unrestricted
funds
2024
Total
funds
2024
Current assets
Creditors due within one year
929
(2,566)
929
(2,566)
Total
{1,637)
(1,637)
Analysls of net assets between funds - prlor perlod
Unrestrlcted
funds
2023
Total
fvnds
2023
Current assets
71,397
12,566)
71,397
{2,5661
Creditors due within one year
Total
68,831
68,831
Page 16