2024-04-05-accounts

THE SUE HAMMERSON FOUNDATION ACCOUNTS FOR THE YEAR ENDED 5th APRIL 2024 Charity Registration Number: 262580

THE SUE HAMMERSON FOUNDATION CONTENTS Pago TRUSTEES, ANNUAL REPORT INDEPENDENT EXAMINER'S REPORT ACCOUNTS.. Statement of financial activities Balance sheet Notes lo the accounts 7- 11

THE SUE HAMMERSON FOUNDATION TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 5th APRIL 2024 CONSTITUTION The Sue Harnmerson Foundation 15 registered with the Charity Commissioners (No. 2625801 and is constituted by a Deed ol Trust dated 23rd March 1971. The trustees present the.ir Annual Rgport a% under, together with the Annual Accounts as attached, for the year ended 51h April 2024. Thesg have been prepared in accord3nce with the Trust Deed and the Charities Act 2011. SErrLOR The Settlor of the charity was the late Mr5 Sue Hamrnerson CBE. OBJE￿5 AND GRANT MAKING POLICY The object of the charity ccntinues to bp. to apply capital and Income to such charitable purposes as the tru%teps Ihink fit. Every rn3tie.r shall bc determined by a majority of trustee5 The chairman shall have an extra casting vot8. The Irustees have the power io ernploy and pay such secretary or 5ecretari95, or other official staff, a5 PUBLIC BENEFIT The Trustees confirrn that they have complied with their duty under section 17 of the Charities Act 2011 to have regard to the Charity Commission's general guidance on public benefit. The sections ol this report relating to the Trust's gr3nt making and related activitie.s set out how we further our ch3ritabl& purposes for ihe public benplit. Third sector orEani5atlOn5 and their services for the public are strpngthened by Ihp Tru5t'5 funding. All registered charities which meet the Trust's objectives aro eligible to apply. The public benefit 15 delivered by the charities which receive grants from the Trust. ACTIVITIES AND FINANCIAL POSITION The level of income and expenditure and year end financial position were as expected by the trustees. The net assets of the charity a5 at 5th April 2024 amounted to £2,636,077. INVESTMENT POWERS AND POLICY No sale of shares in Hammerson PIC shall be made at any tim@ without first giving the children of the Sèttlor the opportunity of purchasin8 such shares at their market price. The investment strategy set by the trustees has been to diversify where appropriate from H3mmerson PIC shares and provide discretion to the investment managers lo pursue a balanced incomc/growth strategy with low- medium fisk. Tho trusteos are repcrted to Dn a regular basis by the investment rnanager5. RESERVE POLICY It is the policy of the charity to maintain it5 incorne reserves at a level equivalent to three years charitable expenditure. which equates to approximately £66,000 based on the current year. The trust operatos with this level of reservcs in order to have avèilable funds for making substanlial payments to the Lewis W Hammerson Memorial Home for capital improvement works. At the year end free re5erve5 wcre E75,418. Thg trust will consider both the need5 01 potential beneficiaries and the nced to increase the income Te5erves when agreeing futurE charitable exponditure.

THE SUE HAMMERSON FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5th APRIL 2024 RISK MANAGEMENT The trustees have examined the. major risks which the charity faces and confirm that SY5tern5 have been ostablished to enable regular report5 to be produced to them to lessen such risks CONNECTED CHARITIES The trust share5 some common trustees with Sue Hammerson Trust G (The Sue Harnme150n Charitable Trust) and Ihe Sue and Lew Hanimerson Charitable Trusi. ThL' piincipal address for these ch3ritie5 15 at the offices of the sL'cretaries as stated on page 3. TRUSTEES The charity tru5tee% are as follows. Mr5. P3trici3 A. Beecham Anihony J Bernstein Iretired 14 October 20241 D. Rory Hammo150n. Louise E Waidholer Arabella Z P3rr Karen L Mckay James A Trdflord (appointed L4 October 20241 REGISTERED ADDRE55 Registered Office.. Acre House, 11-15 William Road, London NWI 3ER STATEMENT OF TRU5TEES' RESPONSIBILITIES LAW applicable to charitie% in England & W31e% require5 tru5tee5 to prepare accounts lor each lin8nci31 year which give a true and lair view ol the charity's financial aciivilie5 durin% the year and ol it5 financial position at the end of the year (unless the charity Is entitled to prepare accounts on the alternètivo receipt5 3nd payment5 basi51. In preparing accounts giving a true and 13ir view, the trust&es should follow best practice 3nd'. select suitablt accounting policies and apply them consistently; make judgements and &stimates that are fea30nable 3nd prudent", 5t3te whether applicable accounting standards and staternent5 of recommended practice have been followed, subject to any departures disclosed and explained In the 3ccountS', prepare the accounts on the going concern basis unless It is inappropriate to pre5urne that the charity will continup in operation The trustees are rc5ponsible lor keeping accounting records which disclose with rL'asonable accuracy the financial position of the charity and which enable them to ensure that the accounrs comply with the applicable law. They are also responsible for safeguarding the 3sset5 01 the charity and hcnce for taking reasonable stepg for the prevention and detection of fraud and other irregularitie5.

THE SUE HAMMERSON FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5th APRIL 2024 PRINCIPAL ADDRESS Principal address.. Acre House, 11-15 William Road, London NW1 3ER ACCOUNTANTS AND SECRETARIES H.W. Fisher Professional Services Limile Acre House, 11-15 William Road. London, NW13ER. Independent Examiner.. James Fletcher, Crown Chambers, Bridge Street, Salisbury, Wills, SP1 2LZ SOLICITORS For51ers LLP 22 Baker Street London W1U3BW BANKERS Kleinwort Hambros Capital Building 12-13 Si Andrew Square Edinburgh EH2 2AF INVESTMENT ADVISORS Kleinwort Hambros Limited Norfolk House 31 Sl James's Square London SW1Y 4JR Signed". Mrs Patricia A. Beecham rp¢i A. &-l.- Trustee James A Trafford Trustee D. Rory Harnrnerson IV4/ Trustee Louiso W Waidhofer Trustee Arabolla Z Parr Trustee rr Karen L Mckay .. A4J Trustee Dated.. 22 May 2025

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SUE HAMMERSON FOUNDATION I report on the accounts of the charity for the year ended 5th April 2024, which are Set out on pages 5 to 11. Respective responsibilitie5 of trustee5 and examiner The charity's trustees are responsible tor thg preparation ol the account5. The charity'5 tru5tee5 consider that an audii is not required lor this year under ol section 144121 of the Charities ACL 2011 Ithe 2011 Act) and that an independenl examination is needed. It is my respon5ibiliiy to.. EKamine the accounts under section 145 01 the 2011 Act, To follow the prDcedure5 Ihid down in the general Direction5 given by thp. Charity Commission under Section 145151 Ibl of the 2011 Act, and To state whether particular motters have come to my attention. Basi5 of independent examiner'5 report My exatnination w35 carried out In accordance with the General Directions given by the Charity Commissioners. An eKamination includeg a review of the accounting recDrd5 kept by the charity and a comparigon ol the accounts presentpd with those rocords It also includes consideration ol any unusual Items 01 disclosures in the accounts, and seeking explanations from you 35 trustee.s concerning any such rnatter5. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequontly no opinion 15 given as to whether the account5 present a 'true and lilif view" and the report is lirnited to tho%e rnatters Set out in tho statement below. Independent eM3miner's statement In connection with my exarnination, no matter has come to my attention.. lal which givos me re35Dnable cause to believe rhat In any material respect the requirements.. lil to keep accovnting rgcords in accordance with section 130 of the 2011 Act,. 3nd lill to prepare accounts which accord with the accounting record5 and comply with the accounting requircmenrs of the 2011 Act., have not been rnet, or Ibl to which, in my opinion, attention should bg drawn in ordei to enable a proper understanding of the aCCOLJnts to be reached. James Fletcher Crown Chambers Bridge Street 5ali5bury Wilts SPI 2LZ D<ltcd-. 07 Jul 2025

THE SUE HAMMERSON FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5th APRIL 2024 Notes 2024 2023 Capital Income Total Income Total INCOME ANU ENOOWNMENTS Invè8iment IncomB'. Dividendsllnleresl Received IGrossl Bank IniÈrÈsi Receive¢ (Nell IncomÈ Tax Recoverable Tax Repaymeni Supplement 39,793 39,793 30,897 2,013 30,897 2,013 13 TOTAL INCOME 39.806 39.806 32,914 32.914 EXPENDITURE Costs of generating funds Inveslmeni manageTDenl costs 131,5931 131.5931 Health care and reli9ious cause5 172,9601 171,9601 122.0791 122,0791 TOTAL EXPENDITURE 1144,6111 131.5931 122,0791 53,6721 NET INCOMEIIEXPENDITUREI BEFORE GAINSI ILOSSESI ON INVESTMENT5 1104,8051 131,5931 10.835 120.7581 Gainslllossesl on InvesimeTr15 Re31isod Unre8lised Gal￿￿11055eSl on Foreign Exchange Realise Unrealisod 18.372 247.033 18,372 247,033 180.4941 180.4941 11541 498 498 265,251 265,251 NET MOVEMENT IN FUNDS 193,6DO 133,1541 160,446 1146,7701 10,835 1135.9351 BALANCE BROUGHTFORWARD AT6th APRIL2023 2,361.059 108.572 2,475,631 2,513.829 97,737 2,611.566 BALANCE CARRIED FORWARD AT 5th APRIL 2024 2,560.fj59 75.418 2,636,077 2,367,059 108,572 2.475,631

THE SUE HAMMERSON FOUNDATION BALANCE SHEET AS AT 5th APRIL 2024 Notès 2024 2023 FIXED ASSETS Investments 2.672,582 2,418.475 CURRENT ASSETS Debtor5 Cash at Bank 10 2,683 44,148 2,670 97.387 46.831 100,057 CURRENT LIABILITIES Creditors 12 183.336} 142.9011 NET CURRENT ASSETS I ILIABILITIESI 136,5051 57.156 2,636,077 2,475,631 Represented by.. FUNDS Capital Incotne 14 2.560,659 75,418 2,367,059 108,572 2,636,077 2,475,631 Signed.. Mrs Patricia A. Bgecham - A. s-a.- Trustee James A Trafford . T.-rr..J Trustee D. Rory Hammerson IVh/ Trustee Louise E Waidhofer Iso Trustee Arabella Z P#rr rr Trustee Karen L Mckay TrLJStee Date(J.. 22 May 2025

THE SUE HAMMERSON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5th APRIL 2024 ACCOUNTING POLICIES al Accounting Convention The accounts have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland IFRS102lleffective January 20191 and the Charities Act 2011 and applicable regulatiOn5. The account5 have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. bl Investment Income Investment income is accounted for in the period in which the charity is entitled to receipt. L) Expenditure Expenditure is included on an accruals basis. Grants payable from income funds are recognized as expenditure in the period in which the donation is given. Support costs have been allocated to charitable activities in recognition of the administrative costs of awarding grants. Governance cost5 relating to the costs of public accountability of the charity have also been allocated to charitable activitie5. The allocation of support and governance costs is analysed in note 3. d) Fixed asset investments Investments are included at closing mid-market value at the balance sheet date. Any gain or Ios5 on revaluation is taken to the Statement of Financial Activities. e) Fund Structure Funds held by the cha rity are.. Capital funds - these are fund5 that can only be used for capital expenditLJre within the objects of the charity. Income funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

THE SUE HAMMERSON FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5th APRIL 2024 SUMMARY OF INVESTMENTS HELD AT YEAR END Market Value al 6.4.2023 Market Valu• at 5.4.2D24 Holding Income Hamrnerson plc 25p Ordinary shares 2,381 2,555 54 SG HambTOS Portfolio 2.416,094 2.670.027 39.739 TOTAL 2,418.475 2.672.582 39,793 Market value at 6th April 2023 DIsp05a15 al opening book value Acquisitions al cost Decrease In cash balance Change in value during the year 2,418,475 795.8371 819,445 116,5341 247,033 Market valu8 al 6th Apnl 2024 2,672.582 The inveslmenis are held.. UK Quoted SeGurilies Non UK Quoted Socuritie5 Cash held by Brokers 2.607,185 65,397 2,672.582 HistDrical Cost.. Al 5th ApTiI 2024 Al 5th April 2023 2,603,634 2.818,506 TOTAL EXPENDITURE Olher Costs Grant funding Total Total 2023 2024 Costs of genorating funds InvEslmenl rnanagemenl costs 71,651 71.651 31,593 Ch8ritabl8 activities He Grant funding of activities 5.950 67,010 72,960 2?.079 77,601 67,010 144,611 53,672

4 INVESTMENT MANAGEMENT COSTS 2024 2023 Other Costs of gEneraling funds comprisE. Accoun12n¢y and taxation fees Legal and professional fees InveslmeF)I manageTnenl fees 10.877 46.104 14,670 9.464 7,265 14,864 71,651 31,593 5 ACTIVITIES UNDERTAKEN DIRECTLY 2024 2023 Other c051s relating lo hÈallh care and religious causes comprise.. Accountancy and iaxalion fees Trustee expenses Bank charyes and InterEsI Independenl Examiners, fees 3,625 3.155 161 245 2,015 525 1,800 5,950 5,576 6 GRANT5 PAYAaLE 2024 2023 Grants wer8 made to the following institutions relatin9 to health c8re and roligious causes.. Sue & Lew Hammerson Charitable TrLJSt 67,010 1,503 Patricia Beecham Charitable Trust 15.000 e7,010 16,503 GOVERNANCE COSTS 2024 2023 other govern8nce costs coFnprise". Independent Examiners, loes 1,800 2.015 REALISED PROFITULOSSI 2024 2023 ProfiVI10551 on Disposal of Listed Inve51Tnenls 18.372 135.1811 18,372 135.1811 UNREALISED PROFITIILOSSI 2024 2023 ProfiUILos$l on Revaluation of Inveslm&nls ProliUI10$51 on Foreign Exchange 247,033 11541 IBO.4941 498 246,879 7g.996

10 DE8TORS 2024 2023 Tax recoverable & OlhÈr debtors 2,683 2.670 2,683 2,670 11 CASH AT BANK 2024 2023 SG Hamb105 44,148 97.387 44,148 97,387 12 CREDITORS 2024 2023 Sue Hamm&rson Trust G Sue & Lew Hatntnerson Charitable Trust Accrua15 36.191 24,071 23.074 36.191 831 5.879 83.336 42,901 13 ANALYSIS OF NET ASSETS BETWEEN FUNDS Capital In¢om• Total Fund balances at 5 Apnl 2024 a￿ represented by.. Investments Debtor5 c￿ditOrS Cash al Bank 2,672.582 2,683 114,6691 199.9371 2,672,582 2,683 183,3361 44,148 168,6671 144,085 2,560.659 75.418 2,636,077 14 CAPITAL ACCOUNT 2024 2023 Balance brought fo(ward al 6th April 2023 2,367,059 2,513,829 Less.. ProfiVIIoss1 on Sale of Inveslrnen15 Profiullossl on Foreign Exchang8 Nel movement in market values Expenses INole 41 18,372 11541 247,033 171.6511 498 180.4941 131,5931 193,600 1146,7701 Balance camed fofward al 5th Apnl 2024 2.560.659 2,367.059

15 INCOME ACCOUNT 2024 2023 8al8nc8 brought foward 8t 6th April 2023 108,572 97,737 Nel Incorne for the year 133,1541 10,835 Balance carried forward at 5th April 2024 75,418 108,572 16 RELATED PARTY TRANSACTIONS Note 12 (Ji5close crtditor balances al the year end and balances are owed to two charities with soffle common Iruslees.

nable Issuer HW Fisher Document generated Mon, 28th Apr 2025 10.'43'.52 BST Document finggrprint 365ae3ea16f77de6275bOd8dbbe27af4 Partles Involved wlth thls document Document processed Party + Fingerprint Tue, 29th Apr 2025 11'.44'.53 BST Patricia Beecham - Signer Icfbd30cd5ba35097a633fc1fb515fbffj Tue, 20th May 2025 11.58.36 BST Rory Hammerson - Signer10570949ab89b89720daSf98cdOb3b26el Tue, 20th May 2025 14'.40.'25 BST Karen McKay - Signer112a45c3fe912d945e301e5987547cd451 Tue, 20th May 2025 23.40.23 BST Wed, 21st May 2025 9:47.'29 BST Arabella Parr- Signer I￿aef1 b4d1 b47ce2ae17a4a69be2e5761 Louise Waidhofer- Signer Ibe37977f450c660e9654cOdd80ccddb41 Thu, 22nd May 2025 12'.39.49 BST Mon, 7th Jul 2025 11.45 03 BST James Trafford - Signer140015c8eedb231 aegfa3b92c166726901 James Fletcher- Signer IbOf3e8dda7a8f263c4a028ac8a21a01 bl Audit history log Date Action Mon, 28th Apr2025 10:43:52 BST Envelope generated by Liz Doherty1185.105.75.1781 Mon, 28th Apr 2025 10'.43.'52 BST Document generated with fingerprint 365ae3ea16f17de6275bOd8dbbe27af41185.105.75.1781 Mon, 28th Apr 2025 10'.46'.35 BST Sent the envelope to Patricia Beecham [e-mail]} for signing1185.105.75.1771 Mon, 28th Apr 2025 10:46'.35 BST Document emailed lo [e-mail] {18.134.182.1551 Mon, 28th Apr 2025 17.51.'26 BST Patricia Beecham opened the document email. 1104.28.40.1401 Tue, 29th Apr 2025 11'.44'.01 BST Patricia Beecham opened the document email. (140.248.40.251 Tue, 29th Apr 2025 11.44.'06 BST Patricia Beecham viewed the envelope1109.157.4.791 Tue, 29th Apr2025 11.'44.'53 BST Patricia Beecham signed the envelope1109.157.4.791 Tue, 29th Apr 2025 11'.44'.53 BST Sent the envelope to Rory Hammerson [e-mail] for signing 1109.157.4.791 Tue, 29th Apr 2025 11'.44'.53 BST Document emailed lo [e-mail]135.178.195.1801 Tue, 29th Apr 2025 12.11..14 BST Rory Hammerson opened the doeument email.1172.226. 134.111 Fri, 2nd May 2025 19'.29.27 BST Rory Hammerson opened the document email. 1104.28.40.1421 Mon, 12th May 2025 16'.24.'14 BST Tue, 20th May 2025 10'.07.'10 BST Rory Hammerson opened the document email. (172.226.134.301 Sent Rory Hammerson a reminder to sign the document. 1185.105.75.1771

Tue, 20th May 2025 10'.07.'10 BST Document emailed lo [e-mail]118.175.143.2541 Tue, 20th May 2025 10.29.47 BST Rory Hammerson opened the doeument em2il.1104.28.40.1451 Tue, 20th May 2025 11'.58.'20 BST Tue, 20th May 2025 11.58.38 BST Tue, 20th May 2025 11.'58:36 BST Rory Hammerson viewed the envelope1104.28.89.571 Rory Hammerson signed the envelope1104.28.89.571 Sent the envelope to Karen McKay [e-mail] for signing 1104.28.89.571 Document emailed lo [e-mail]118.169.19.1821 Tue, 20th May 2025 11.'58:36 BST Tue, 20th May 2025 14.39.29 BST Karen McKay opened the document email.1104.28.30.1401 Tue, 20th May 2025 14.'39:38 BST Karen McKay viewed the envelope1185.78.11. 1681 Tue, 20th May 2025 14'.40.'25 BST Karen McKay signed the envelope1185.78.11.1681 Tue, 20th May 2025 14.'40:26 BST Sent the envelope to Arabella Parr [e-mail] for signing 1185.78.11.1681 Tue, 20th May 2025 14.40.28 BST Document emailed lo [e-mail]118.171.250.2151 Tue, 20th May 2025 23'.39.'50 BST Arabella Parr opened the document email.1104.28.94.21 Tue, 20th May 2025 23.39.58 BST Tue, 20th May 2025 23:40:17 BST A￿bella Parr viewed the envelope1104.28.94.21 Arabella Parr viewed the envelope1135.232.20.921 Tue, 20th May 2025 23.40.23 BST Tue, 20th May 2025 23:40:23 BST Aobella Parr signed the envelope1104.28.94.21 Sent the envelope to Louise Waidhofer [e-mail] for signing1104.28.94.21 Document emailed lo [e-mail]118.170.71.291 Tue, 20th May 2025 23:40:23 BST Wed, 21st May 2025 0'.05.'10 BST Wed, 21st May 2025 9.47.19 BST Louise Waidhofer opened the document email. 1140.248.40.24} Louise Waidhofer viewed the envelope1143.58.240.2251 Wed, 21st May 2025 9'.47.'30 BST Louise Waidhofer signed the envelope1143.58.240.225) Sent the envelope to James Trafford [e-mail] for Wed, 21st May 2025 9.47.30 BST signing1143.58.240.2251 Wed, 21st May 2025 9.47.30 BST Document emailed lo [e-mail]118.170.27.2341 Wed, 21st May 2025 16:56:09 BST Arabella Parr opened the document email.1104.28.92.31 Wed, 21st May 2025 21'.01.59 BST Karen McKay opened the document email.1146.75.174.121 Thu, 22nd May 2025 12.'36:59 BST James Trafford viewed the envelope1208.127.55.1911 Thu, 22nd May 2025 12'.39.'49 BST Thu, 22nd May 2025 12'.39.'49 BST James Trafford signed the envelope1208.127.55.1911 Sent the envelope to James Fletcher Q'[e-mail] for signing 1208.127.55.1911 Thu, 22nd May 2025 12.39.49 BST Document emailed lo [e-mail] (18.135.104.95) Thu, 22nd May 2025 13'.02.'10 BST James Fletcher opened the document email.1185.147.90.411 Thu, 22nd May 2025 13.02.10 BST Thu, 22nd May 2025 18:21:02 BST James Fletcher opened the document email.1185.147.90.411 Louise Waidhofer opened the document email. (146.75.174.121 Thu, 22nd May 2025 18'.23.'27 BST Louise Waidhofer opened the document email. (140.248.40.241 Sun, 25th May 2025 6:03:58 BST Karen McKay opened the document email.1140.248.40.251 Fri, 30th May 2025 11'.18.'32 BST James Fletcher viewed the envelope {81.145.152.2101 Fri, 30th May 2025 11.. 18:43 BST James Fletcher viewed the envelope151.145.47.1031

Fri, 30th May 2025 11'.18.'58 BST James Fletcher viewed the envelope {20.254.225.2541 Sal, 31st May 2025 8..52.25 BST Karen McKay opened the document email.1140.248.40.251 Wed, 11th Jun 2025 15'.11.'07 BST Sent James Fletcher a reminder to sign the document. {185.105.75.1771 Document emailed lo [e-mail] Sent James Fletcher a reminder to sign the document. {185.105.75.1781 Wed, 11th Jun 2025 15.11.07 BST Mon, 7th Jul 2025 10.35.00 BST Mon, 7th Jul 2025 10.35.02 BST Document emailed lo [e-mail] Mon, 7th Jul 2025 11.44 28 BST James Fletcher viewed the envelope {81.145.152.2101 Mon, 7th Jul 2025 11.45.03 BST James Fletcher signed the envelope181.145.152.2101 Mon, 7th Jul 2025 11.45 03 BST This envelope has been signed by all parties181.145. 152.2101