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