Charlty number: 1211475
THE CURRAN CHARITABLE FOUNDATION
(A charitable incorporated organisation)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
CONTENTS
Page
Reference and administrative details of the charity, its Trustees and advisers
Tru$tees' ￿port
Independent examinerfs report
Statement of financial activities
Balance sheet
Notes to the flnanclal statements
9-15

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 30 JUNE 2025
Trustees
D Curran, Chair (appointed 18 December 20241
P Gladwell (appointed 4 February 20261
A Sheppard lappoinled 18 De￿mber 20241
S Curran lappoinled 18 December 20241
Charity registered
number
1211475
Principal office
The Homestead
Bool Sireel
Woodbridge
IP13 6PB
Accountants
Crowe U.K. LLP
Chartered Accounlanls
3rd floor
Si Georges House,
56 Peter Si,
Manchosler
M2 3NQ
Page 1

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
TRUSTEES, REPORT
FOR THE PERIOD ENDED 30 JUNE 2025
The Trustees present their annual report together with the financial slalements ol the The Curran Charitable
Foundation lor the period 18 December 2024 10 30 June 2025.
Oble¢tlve$ and a¢tlvltles
a. Poll¢les and oblectlves
The Charity has been established as a Grant Making Foundation with general charitable purposes.11 will locus on
the advancement of religion, health, education, the arts and amateur sport, as well as the prevention or relief of
poverty and the promotion ol moral welfare. It is intended to particularly support the advancement ol Christianity
and the Christian religion. Other causes may be supported depending on the needs ol recipients identified by the
trustees. Grants were provided in the year to organisations involved in mindfulness and wellbeing religious
retreats in order to advance the Christian ethos. Donations received will also be used to invest in property in
lulure periods which will be leased to charities specialising in homeless accomodalion to promote the values of
Christianity.
In setting objectives and planning for activities, Ihe Truslees have given due consideralion to general guidance
published by the Gharily Commission relating to public benefit, including the guidance 'Public benefit= running a
charity IPB21'.
b. Strategles for a¢hlevlng oble¢tlves
The ¢hartty will provide grant funding and donations lo other charities, organisalions and individuals. This may be
lor capital expenditure, overheads or salary Costs lin whole or partl. There is Currently no process by which
recipients may apply directly to the charity for grant funding.
The chartty has received a subslanlial donation of shares from the trustee Dennis Curran in Barhale Holdings PIC
a Company in respect of which Dennis Curran is a Director and his son Sean Curran is a Director and minority
shareholder. The shareholding comprises 10 /¢ ol the shares in that company which was founded by Dennis
Curran. The transfer of these shares to the Charity was made pursuant to enabling Orders of the Charity
Commissioners on 14th July and 1 sl September 2025.
The shares will be held as an investment by the charity and the income Idividendsl therefrom will be applied
towards grants and donations each year. The charity has also re￿Ived an unreslricled cash donation frorn
Barhale Holdings Plc.
¢. A¢tlvltles undertaken to achleve oble¢tlve$
The Trustees are keen to encourage the provision ol supported accommodation for homeless people and intend
lo invest in suitable accommodation and lo suptK)rt individuals, organisations and other registered charities by
providing grant funding in connection therewith.
The charity has a Grant Making Policy throLJgh which the TrLJStees wish to support both the operational costs of
recipient organisations as well as specific projects. The Trustees will undertake appropriate and proportionate
due diligence checks on all tK)lenlial grant recipients including financial and governance information and on the
recipients aims and values.
Page 2

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
TRUSTEES. REPORT {CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2025
A¢hlevements and performance
a. Maln a¢hlevements of the ¢harlty
During its first year the charity has made donations lo , inter alia, other Charities involved with the provision of
food and clothing to school children in some of the worlds poorest communities- lo those involved with the
provision of accommodation lo homeless people in the UK and to Christian ¢harilies involved in the relief of
poverty and respite care.
The Charity provided a grant in the period of £2,000 to St Bueno's a religious registered charity providing
wellbeing and mindFulness retreats.
Flnan¢lal revlew
a. Golng ¢on¢ern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate
resources lo continue in operational existence lor the foreseeable lulure. For this reason, they continue lo adopt
the going concern basis in preparing the financial slatemenls. Further details regarding the adoption of the going
concern basis can be found in the accounting tx)licies.
b. Reserves pollcy
11 is intended lo maintain General Funds ol al least £50k al any one time. The Trustees have assessed the
charitls future activities of leased a¢¢omodalion for the homeless. They have deemed that this level ol reserves
will be required lor the maintenance, upkeep and management ol these properties. Any excess reserves above
this will be committed lo providing grants lo individuals and organisalions in line with the charities grant making
policy in furtherance ol the charities obje¢lives.
¢. Prlnclpal rlsks and uncertalntles
The ellective management ol risk is lundamenlal lo safeguarding our assets and achieving our charitable
objectives. The charity has a Risk Managemenl Policy and an active Risk Map which identifies all foreseeable
risks and the measures for managing them. This is reviewed regularly by the Truslees.
Principal risk- Reduclion in donations and future dividends from Barhale Holdings PLC
The Trustees determined that the prinicipal risk lo lulure periods results from the charities funding provided by
Barhale Limited and Barhale Holdings PLG. The main risk is that donations will Ilucluale depending on the
company's available unspent funding and investment in Barhale Holdings PLC which was acquired following the
end ol the period relies on the profitability ol the PLC. As such. the Trustees have actioned plans lo diversify the
income streams of the charity by acquiring properties to lease. These properties should provide a more reliable
source ol funding and reduce the reliance on related party funding. A minimum level of reserves will be held lo
preserve the ability to maintain these properties in periods ol vacancy.
d. Flnanclal rlsk management oblectlves and pollcles
The charity also has a Financial Management and Accounting Policy and policies lor Conflicts ol Interest and for
Bribery & Corruption. These are reviewed annually.
Page 3

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
TRUSTEES. REPORT {CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2025
Structure, governan¢e and management
a. Constltutlon
The Curran Charitable Foundation is a charitable incorporated organisalion (charity number 12114751, and is
established by a Charity Commission approved CIO constilulion.
b. Methods of appointment or election of Trustees
The management ol the charity is the responsibility ol the Trustees who are elected and co-opted under the
terms of the Trust deed. A minimum 013 Trustees must be maintained per the conslitution.
Plans for future perlods
The Charity has acquired a shareholding in Barhale Holdings PLC following year end. The receipt of annual
dividends on Ihe shares held plus regular cash donations from Barhale Holdings PLC should ensure the Charity
maintains funding lo provide grants lor ils charitable objectives. This slalus will be asslsted by the acquisition of
property holdings in the lulure which will diversify the income stream of the charity to ensure there is no reliance
on the results of the PLC.
Statement of Trustees, re$ponslbllltle$
The Trustees are responsible for preparing the Trustees, report and the financial statements in ac¢ordan¢e with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢cepled Accounting
Pra¢licel-
The law applicable to Charities in England & Wales requires the Trustees to prepare financial statements lor
each financial period which give a Irue and fair view ol the slate ol affairs of the charity and ol its incoming
resources and application ol resources, including its income and expenditure, lor Ihal period. In preparing these
financial slatemenls, the Trustees are required lo..
select suitable accounting policies and then apply them consislenily.,
observe the methods and principles ol the Charities SORP IFRS 1021.,
make judgments and accounting eslimales Ihat are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed. subject lo any material
departures disclosed and explained in the financial slalemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will conlinue in business.
The Trustees are responsible lor keeping adequate accounting records that are sufficient lo show and explain
the charity's transactions and disclose with reasonable accuracy al any lime the financial position ol the charity
and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charity
(Accounts and Fleporlsl Flegulalions 2008 and the provisions ol the Trust deed. They are also responsible for
safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection ol
fraud and other irregularities.
Approved by order ol the members ol the board ol Trustees on 29 April 2026 and signed on their behalf by..
A Sheppard
Trustee
Page 4

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
INDEPENDENT EXAMINER'S REPORT
FOR THE PERIOD ENDED 30 JUNE 2025
Independent Examiner's Report to the Trustees of The Curran Charitable Foundation {'the
charity.)
I report lo the charity Trustees on my examination ol the accounts ol the charity I'the CIO") lor the period ended
30 June 2025.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible lor the preparation ol the accounts in accordance with the
requirements ol the Charilies Act 2011 I'lhe 2011 Acl'l.
I report in respect ol my examination ol the charity's accounts carried out under section 145 01 the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Page 5

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
INDEPENDENT EXAMINER'S REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 JUNE 2025
Independent Examiner's Statement
Since the charills gross income exceeded £250,000 your examiner musl be a member ol a body listed in
section 145 01 the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member
of ICAEW, which is one of the listed bodies.
Your allenlion is drawn lo the fact that the charity has prepared the accounts in accordance with 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 ol Ireland IFRS 1021 in
preference lo the Accounting and Reporting by Charities= Statement of Recommended Practice issued on 1 April
2005 which is referred lo in the extant regulations bul has been withdrawn.
l understand that this has been done in order lor the accounts lo provide a true and lair view in accordance with
the Generally Accepted Accounting Practice ellective lor reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no mallers have come lo my allenlion in connection with the
examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect ol the charity as required by section 130 01 the 2011 Act,. or
the accounts do not accord with those re¢ords', or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement
that the accounts give a 'lrue and fair, view which is not a matter considered as parl ol an independent
examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding ol the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities
IAc¢ounls and Fieportsl Regulations 2008. My work has been undertaken so that I might stale lo the charity's
Trustees those matters l am required to stale to them in an Independent examiner's report and lor no other
purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the
Charity and Ihe charity's Trustees as a body, for my work or lor this report.
Dated.. 30 April 2026
Kathryn Paul
ICAEW
Crowe UK LLP
3rd Floor
56 Peter Street
St George's House
Manchester
M2 3NQ
Page 6

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 30 JUNE 2025
Unrestricted
funds
2025
Total
funds
2025
Note
Income from:
Donations and legacies
Investments
471,398
77
471,398
77
Total income
471,475
471,475
Expenditure on:
Charitable aclivrfties
5,010
5,010
Total 8XP8nditure
5,010
5,010
Net movement In fund$
466,465
466,465
Reconclllatlon of funds:
Net movement in funds
466,465
466,465
Total funds carried forward
466,465
466,465
The Statement of Finan¢ial A¢livilies includes all gains and losses recognised in the period.
The notes on pages 9 10 15 form part of these financial slatemenls.
Page 7

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
BALANCE SHEET
AS AT 30 JUNE 2025
2025
Note
Current assets
Cash al bank and in hand
469.465
469,465
Current Ilabllltles
Creditors.. amounts falling due within one year
10
(3.000)
Net current assets
466,465
Total net assets
466,465
Charity tunds
Fleslricled funds
Unrestricted funds
12
12
466,465
Total fund$
466,465
The financial slalements were approved and aulhorised lor issue by the Trustees on 29 April 2026 and signed
on their behalf by-
4th0
A Sheppard
Trustee
The notes on pages 9 10 15 form part of these financial slatemenls.
Page 8

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025
General information
The Curran Charitable Foundation is a charitable incorporated orgainisalion registered with the Charities
Commission England and Wales Icharily number 12114751. The registered ollice is The Homestead, Bool
Street, Great Bealings, Woodbridge, IP13 6PB.
Accounting policies
2.1 Basis of preparation of financial statements
The financial slalements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Sialement of Recommended Practice applicable lo charities
preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK
and Republic ol Ireland IFRS 1021 lelleclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'lrue and fair, view and have departed from
the Charities IAccounls and Reports) Regulations 2008 only to the extent required to provide a 'lrue
and lair. view. This departure has involved following the Charities SORP IFRS 1021 published in
October 2019 rather than ihe Accounting and Reporting by Charities.. Statement ol Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
The Curran Charitable Foundation meets the definition ol a public benefit entity under FRS 102.
Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise
stated in the relevant accounting policy.
2.2 Going concern
Alter making appropriate enquiries, the Trustees have a reasonable expectation that the charity has
adequate reSoUr￿S to continue in operational existence lor the foreseeable lulure. The Trustees
confirm that the charity will receive continued support from il's sponsoring entity Barhale Holdings
PLC, for al least a period 0112 months from the date ol this report. For this reason, they continue lo
adopt the going concern basis in preparing the financial slatemenls.
2.3 Income
All income is recognised once the charity has entitlement lo the income, it is probable that the income
11 be received and the amount of income receivable can be measured reliably.
Donations are credited to revenue on a receivable basis and are recognised when receipt is probable
and the value ol the donation ¢an be measured with reasonable certainty- No amounts are included
in the financial statements for services donated by volunteers.
Investment income represents interest receivable. Investment income is recognised when inlerest is
receviable.
Page 9

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025
Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in selllemenl and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of Ihe total ol direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs allribulable lo a single activity are allocated directly
to that aclivily. Shared costs which contribute to more than one activity and Support costs which are
not allribulable lo a single activity are apportioned between those activities on a basis consislenl with
the use ol resources. Central stall costs are allocated on the basis ol time spent, and depreciation
charges allocated on the portion ol the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
charills objectives, as well as any associated support costs.
Grants payable are charged in the period when the oller is made except in those cases where the
offer is conditional, such grants being recognised as expenditure when the conditions allaching are
fulfilled. Grants ollered subject to conditions which have not been mel at the period end are noted as
a commitment, bul not accrued as expenditure.
All expenditure is inclusive ol irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity,. this is normally upon nolificalion ol the interest paid or payable by the institution
with whom the funds are deposited.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past
event, it is probable that a Iransler ol economic benefit will be required in setllemenl, and the amount
ol the seiilemenl can be estimated reliably.
Liabilities are recognised al the amount that the charity anlicipales it will pay lo settle the debi or the
amount il has received as advanced payments lor the goods or services il musl provide.
2.8 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
rNeasured al their settlement value with the exception of bank loans which are subsequently
measured al amortised cost using the elleclive interest method.
Page 10

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025
Accounting policies (continued)
2.9 Fund accounting
General funds are unreslricled funds which are available for use at the discretion ol the Trustees in
furtherance of the general objectives of the charity and which have not been designated lor other
purposes.
Investment income, gains and losses are allocated lo the appropriate fund.
Page11

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025
Income trom donations and legacies
Unrestricted
funds
2025
Total
funds
2025
Donations
471,398
471,398
Investment income
un￿strICted
funds
2025
Total
funds
2025
Bank interest receivable
77
77
Analysls of grants
Grants to
Institution$
2025
Total
funds
2025
Grants
2,000
2,000
Page 12

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
lunds
2025
Total
2025
Grants
Other charitable activities
2.000
3.010
2,000
3,010
5,010
5,010
Analysls of expendlture by a¢tlvltle$
Granl
fundlng ol
actlvltles
2025
Support
costs
2025
Total
funds
2025
Grants
Other charitable activities
2,000
2,000
3,010
3,010
2,000
3.010
5,010
Independent examiner's remuneration
2025
Fees payable lo the charity's independent examiner lor the independent examination of
the charity's annual accounts
Fees payable lo the charity's independent examiner in respect of..
All other services not included above
1,800
1,200
Page 13

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025
Trustees. remuneration and expenses
During the period, no Trustees received any remuneration or other benefits.
During the period ended 30 June 2025, no Trustee expenses have been incurred.
10. Creditors: Amounts falling due within one year
2025
Accruals and deferred income
3,000
11.
Financial instruments
2025
Financial assets
Financial assets measured at lair value through income and expenditure
469,465
Financial assets measured at fair value through income and expenditure comprise cash al bank and in
hand.
Page 14

THE CURRAN CHARITABLE FOUNDATION
IA ¢harltable Incorporated organlsatlon)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025
12. Statement of funds
Statement of funds - current period
Balance at
30 June
2025
Income Expenditure
Unre$trl¢ted funds
General Funds
471,475
(5,010)
466,465
13. Summary of fund$
Summary of fund$ - current period
Balance at
30 June
2025
Income Expenditure
General funds
471,475
(5,010)
466,465
14.
Analysis of net assets between funds
Analysis of net assets between funds- current period
Unrestricted
funds
2025
Total
funds
2025
Current assets
Creditors due within one year
469,465
13,0001
469,465
13,0001
Total
466.465
466,465
15.
Related party transactions
During the year, Ihe charity received donations of £471,398 from Barhale Limited. A company in which
the Trustees are directors and shareholders.
Page 15