Company Registration No. 1450892 {England and Wales) Registered Charity No. 278720 Scottish Charity No. SC039512 DAWLIFFE HALL EDUCATIONAL FOUNDATION (Company limited by guarantee) DIRECTORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 DAWLIFFE HALL EDUCATIONAL FOUNDATION CONTENTS Page Directors, and Trustees, report Auditors, report 15-17 Statement of financial activities and income & expenditure account 18 Balance sheet 19 Cash flow statement 20 Notes to the financial statements 21-30 DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Permanent values in a changing world www.dhef.or The directors, who are also trustees are pleased to present their annual directors, ￿port together with the financial statements for the year ended 31 December 2023 which are also prepared to meet the requirement for a directors, report and accounts for Companies Act purposes. The financial ststements comply with the Charities Act 2011, the Companies Act 2006. the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). CHAIR'S REPORT 2023 was another year of continued growth and reaching out to help and support more women and families. We are entering into a time of expansion and development as the needs of modern society require it. There has been a very good experience with our Wellbeing training programme which was produced in partnership with professionals in the field and has produced very posttive feedback. we hope to develop this kind of'training trainers, in the coming months. Our activity-based girls, lub in South London has continued to benefit not only those who attend but also the local community. Hazelwood has been expanding rts field of influence North of the Border with Scotland. Another trend we have noticed is how much more ambitious our volunteers are in organising outreach, educational activities in and outside the centres. Many people are Coming into contact with these activities in areas we have never operated in before, e.g. East Anglia, Aberdeen. etc. We want to continue supporting them and their families in this. After the planning permission and some legal issues were resolved we were finally able to start the first strip out of the Omie Court Project. The aim is to finish this work by mid-2025 when the new centre should be completed and ready for use. Our Estates Team is in charge of overseeing the works and keeping the project on time and within budget. Due to changing needs, we have been reviewing the effectlV8ness of some of our larger premises and it has been decided that it will be necessary to dispose of some assets to provide funds to allow the Charity to expand its activities in new areas and also to update and improve some of our existing premises so that they are fit for purpose and comply with modern standards. A review of the activities organised in and from our different centres revealed that the different Management Committees could benefit from more support of a practical nature so that they can keep up with continuing changes in the law and good practice. The trustees have been looking into the best way to give them more support. After taking legal advi￿ and considering several options it has been decided to set up a new charity with the sole responsibility of overseeing the different activities organised in and from each centre. DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 This means that DHEF will be able to concentrate on the more practical areas of property management, acquisition and disposal and making sure that all the legal requirements that affect charities and their activities which are continually being updated can be dealt with by specialist teams. Steps are under way to make this happen in 2024. Obviously, this will not affect the activities themselves but hopefully will enable those running the various activities offered through our centres to improve work practices and effectiveness for the benefit of all those working with and through our various projects. Again, and as always, heartfelt thanks are due to all our many benefactors. volunteers and beneficiaries who together make all the work of the Foundation so effective and far reaching. We could not operate without you and we look forward to another year of innovation and development. Ann Catherine Bennett Chair Date: Iq Zo24 DAWLIFFE HALL EDUCATIONAL FOUNDATION. REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECTIVES AND ACTIVITIES The charity's purposes as set out in the objecls contained in the company's Memorandum are.. The advancement of education and learning and the development of character in accordance with Christian principles and ideals To support, own and operate charitable educational establishments To assist. by the provision of grants or othe￿iSe, the pursuit of education or research In accordan￿ with these objectives each of the properties we own operates as an educational centre and as a base from which the work of the charity is done. Our main projects are Ashwell House, a student residence situated in Hackney, London. Hazelwood Houso, an educational and conference centre in Glasgow, Scotland. Part of the work of the charity is to help people to give back to society and so the charity organises and supports social projects at home and abroad. Vision We believe that everyone should reach their full potential and be a caring and responsible member of the community. DHEF considers education to be the key to social inclusion, helping to develop useful skills, 5e1f-conflden￿ and responsible attitudes. Mission To encourage and support families as the primary place where individuals are nurtured and helped to mature and where they leam to have regard to the needs of those around them. We do this by working in formal and informal educational projects. particularly with women. regardless of their age or cultural background. Values DHEF promotes respect for the individual. personal freedom. self-confidence and responsible attitudes in professional, private and public life. Approach In shaping our activities, the trustees have considered the Charity Commission's guidance on public benefit {including the guidance 'public benefit= running a charity, (PB2)). In particular, the trustees consider how our planned activities contribute to our educational objectives. DHEF centres provide a wami and welcoming environment for women of all ages, offering opportunities to widen educational horizons and to take part in worthwhile volunteering projects. Our club activities support study particularly in the key areas of Maths and English. Our programmes encourage each young person to achieve. Our work with adults aims to offer practical help with personal, social and family development. Who benefits from DHEF activities? DHEF encourages families and especially women of all ages and cultures and from every sector of society to reach their potential through formal and infomial educational projects. DH EF has a Christian ethos and its activities promote respect for the individual, personal freedom, self- confidence and responsible attitudes in professional, private and public life. DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 DHEF activities take place on a regular basis at over 15 satellite locations from our ￿ntres. During 2023, 1,323 adults. families and girls participated in one or more of our activities. Volunteers play a vital role in the Charity's activities. In 2023, 180 volunteers were involved in running or supporting our activities. Our grant making is only to charities which share our ethos. We also provide grants to managers and volunteers for development and training to help them improve and gain skills which will benefit the Charity. All DHEF educatlonal c•ntr•s include in some way the following aspects.. 1. Activities for young people where they leam to widen their cultural horizons, develop their personal integrity, leam lo respect others and contribute to wider society by taking part in an age-appropriate social project. Young people learn the value of giving their time to help others. All the activities take place in an atmosphere of Cheerfulness and fun. 2. Families are supported through talks, guidan￿ and mentoring. This can range from the practical aspects of home management (hygiene, time planning, basic home repairs, healthy eating and budgeting) to developing personal relationships and caring for others. More specifically- Ashwell House www.ashwellhouse.or .uk Ashwell House is DHEF'S university residen￿ in London. Living in Ashwell House is a transfomiative experience for many residents. The experience of four women who graduated in 2023 amply illustrates the way in which Ashwell House is fulfilling its mission. Femi arrived in Ashwell in September 2018 feeling 'confused and anxious about navigating the future" She left in July 2023, feeling "more mature, more comfortable with life" Ashwell played a big part in that." she said. Ashwell helped Ashley, now a Junior Doctor, to overcome her nervousness about meeting new people. She said that having Ashwell as a base was "really special" Katherine came to Ashwell from Connecticut. USA, to study for a one-year MA in Financial Joumalism. Katherine benefitted from the spiritual formation at Ashwell. and especially appreciated the mentoring opportunities. DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The family atmosphere at Ashwell resonated strongly with Marta. Everyone's birthday is celebrated and Marta's last birthday in Ashwell was"super special" We ￿lebrated four birthdays with a brilliant Ashwell pub quiz and dinner." Helping women to grow socially and emotionally is a goal of DHEF. Ashwell House helped Femi: "You open your eyes and move past your own boundaries." Marta felt that she knew herself more after four years in Ashwell.. "It's hard to explain. but I think such self-knowledge comes from living closely with many wonderful and very different people." When Ashley faced a crisis in her exams the support and advice she was given "opened a whole new perspective for me. It really helped me grow as a person" to cope with disappointment so close to the finishing line.. Hazelwood House www.hazelwoodhouse.or -uk A highlight of the educational programme at Hazelwood House, was a conference for 34 young women who came together to explore some of the core values of DHEF.. personal freedom, responsibility and self-confidence. The residential weekend was host to women from London, Manchester, Glasgow, Dublin. Galway, and from Amsterdam and Utrecht in the Netherlands. Communication was another important topic of the weekend, which included a training session on how to explain faith and values with confiden￿, clarity and charity. Young women today need a proper understanding of commitment. Sinead, a chemistry student, said: 'The talk on commitment was important because there is such a lack of it in our generation. We have to tackle this, driven by conviction and not by emotions." Young people want to be inspired and guest speaker Esperanza Ballaster shared the inspiring story of her son, who died of bone cancer in 2018, aged 21. When facing life's big challenges, Esperanza's advice to the delegates was to be yourself, to trust and to love. She stressed that they must each be the person God created them to be. they can't be anyone else. By the end of the weekend each person was ready to write Ihe mission statement of their life. And to live it. DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Outreach to young professionals During 2023. DHEF ￿ntre Pembridge House offered young professional women in London a range of cuttural events. In addition, young women find friendship and spiritual support at this cenlre. Navigating today's work environment can be challenging, so Pembridge House held events covering resilience at work, the impact of nutrition on physical and mental wellbeing and colSecting a sustainable wardrobe. Other talks covered cultivating your own brain coach and the importance of managing money to gain financial freedom. Meeting other women who have broken through the glass ceiling in their profession is a great experience for those that come to Pembridge House. The advice received from those who have achieved their goals and the nelworks fomied with likeminded women provides great support to young professional women tackling the challenges of living Christian virtues in today's cutthroat environment. Supporting families Addressing the needs of today's families is a rapidly expanding part of DHEF'S work. The stresses and strains of modem living leave many families struggling to meet the demands of work and create the right environment for their children. DHEF is responding to this challenge in a variety of ways. To help tackle the confidence crisis in parenting, DHEF volunteer Caroline Candia ran a series of sessions for mothers in Brixton, South London. The mothers included single parents, some wÉth several children across a large age range and many of them immigrants with English as their second or third Sanguage. Caroline's aim was to give parents the Confiden￿ to engage with their children p)sitively by putting into practice time-tested mindsets and strategies. The mother of seven children and 30 years, experience as a primary school teacher meant that Caroline had much to share. At the heart of the six workshops was a focus on growth in virtue. So whetherthe discussion was about managing technology, developing good study habits or creating a peaceful home. they all hinged on implementing four essential virtues,. right judgement. responsibility, courageous perseverance and sefrf-control. Above all, the sessions gave mothers the confidence they needed to be the parent they want to be. Antonia Tully, a DHEF volunteer, drew on her experien￿ as a mother of six and a campaigner for parents, rights to support mothers at the DHEF centre in Oxford who wanted guidance on passing on their values about marriage and family to their children. DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Antonia's advice was to explain the value and beauty of marriage and the happiness which comes from family life. Mothers at the session were encouraged to be confident in passing on their own values to their children. Hillcrest Family Centre expanded its mission to serve the local community, reaching out to young women, who often struggle with the demands of motherhood. DHEF volunteer Alison is a retired teacher and a dab hand at sewing. She initiated a "Make Do and Mend" group at Hillcrest. Every week young mums come along with clothing to be mended or altered. Alison teaches them sewing skills and creates a space for friendship and support. St Albans is a satellite of DHEF centre Bracklyn, where two experienced mothers, Teresa and Rosemary run a Faith and Family Group. Local mothers come along once a month with their pre-school children to spend a moming together. The group offers them the chance to leam more about their faith, forge new friendships and break the cycle of isolation many young mothers experience. Teresa and Rosemary are clear in their purpose forthe group. Yhe orientation of everything we say is towards creating a bright and cheerful home,. says Teresa. "We encourage the young murns to bring faith into their homes in small ways." Inspiring young people DHEF'S outreach to young people continued to grow during 2023. Youth clubs in Hillcrest Family Centre and Hazelwood House flourished. Opening up new horizons is an important way to help girls to grow. During Easter 2023. university students from Ashwell House and other DHEF centres travelled to Rome to join the annual intemational UNSV conference. Conference lectures included an exposition on the paradox of happiness by Professor Arthur Brooks from Harvard University. A ￿ntral event of the Christian faith, Christ on the cross, is one of great suffering. And yel from this a religion of great joy was founded. Looking at Michelangelo's Pi8ts showed the gids that COPl8s of this great work of art cannot reproduce its beauty or evoke the sentiments which the artist wanted lo convey. DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Being in Rome to take part in the great Easter ceremonies of the Catholic Church helped the girls to take a step forward in their spiritual joumey. This is a lasting inspiration for those who experience it. Training In 2023 DHEF reviewed its perfornian￿ and identified areas for improvemenl. Training for the managers and volunteers emerged as a priority. DHEF is Gommitted to supporting the teams who run DHEF'S many and varied projects, so that they work together happily and collaboratively. This is central to fulfilling DHEF'S goals. The Arbinger Institute was chosen to deliver the training. Delegates were introduced to the concept of Outward Mindset" which proposes the idea that to work well in a team. the people around you matter to you as much as you do. This approach aligned well with the mission and vision of DHEF. As an org8nisation dedicated to the wellbeing of women, developing an oulward mindset among leaders and volunteers will have a positive impact on the women and girls who take part in DHEF'S activities. Participants come from DHEF centres; Pembridge, Ashwell House, Dawliffe H811 and Bracklyn. "In DHEF, women, who are often undervalued in society, are at the centre of our projects", said Mercedes. 'No matter what their circumstances, people are people, with their own needs, their own dreams, their own baggage., and all of that matters and has to be respected and valued. Leaming to have an outward mindset helps us to achieve this." Striving to improve leadership and teamwork is a pemianent goal for DHEF. Wellbeing and mental health In 2023, the DHEF Wellbeing Team reached out to families to find out what help they needed. The clear response was how to manage teenage children. The teenage years can be a critical time for both parents and children, when stress and uncertainty can dominate. The aim of the Wellbeing Team is to support people to maintain good mental health in order to avoid a crisis. With this in mind. the team approached a charity specialising in child and adolescent mental health to deliver three sessions for mother5. An experienced family therapist helped participants to understand the changes which take place in the teenage brain. This is crucial to understanding teenage behaviour. Adolescence is a significant stage in brain development. During this time a pruning process is going on, in which DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 the teenage brain is cutting away information it no longer needs, allowing new passions and interests to develop. The sessions gave parents strategies to navigate the leenage years during which a tug of war is going on. Teens want their own freedom and parenls are pulling back. Feedback to the Wellbeing Team was positive. 'This has been a great opportunity to pause, put on the handbrake and really think about the art of bringing up our adolescent children in the middle of our busy lives," said one mother of three teenagers. Another said: "Atlending a workshop like this, we immediately feel empowered because we are not alone." FINANCIAL REVIEW The total income of the Charity increased by 4 % from £1,612,475 in 2022 to £1,679,270 in 2023. The efforts and hard work of the management committees of Ashwell and Hazelwood paid off with increased occupancy in both residences and a healthy contribution of £920,806 (£846,818) was made to the Charity's income. Interest on funds on deposit of £134.646 {£35,073 in 2022) helped much to offset the decline in Donations from £684,309 to £561,512 in the current year. Increased operating expenses due mainly from higher insurance premiums and some legal costs meant that operation profits declined to £130.950 from the 2022 income figure of £239,079. Insurance costs more than doubled from £73.001 in 2022 to £156,838 in 2023 due to the extra premium to cover the cost of the works of the Omie Court project. The Ome Court building project, a long-term future project of the Charity is running on time and within budget. With the completion of the refurbishment of these properties by DHEF has good prospects for income from these properties and the Charity can look fO￿ard to better operating profits in the future. Reserves Policy DHEF holds its properties in order to deliver the charitable educational aims, and so these properties are not ￿nSIdered as part of the charity's reserves as their sale would impact the ability of the chaiity to deliver its objectives. DHEF does need to hold reserves for two main reasons. Firstly, reserves are required to deal with temporary or permanent reductions in unrestricted income. And secondly a considerable amount of the charity's loans and repayment schedules are denominated in Euro and therefore the charity is exposed to Euro exchange rate differences. The only commercial loan that the charity had was completely repaid 2 years ago and now the charity only has concessionary loans (mn interest bearing loans) with a flexible repayment schedule. At 31 December 2023 the charity held reserves of £21,091,394 (2022 £20,960,444). Those funds held as fixed assets for charitable purposes are £19,974,772 {2022= £18.432.803), a DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 restricted fvjnd of £15,005 (2022.. £Nil) and a general fund of £1.101,617 (2022: £2,527,641). The Board considers this position lo be satisfactory and reviews the reserves levels regularfy. Risk Management The directors are aware that DHEF'S activities depend to a large extent on voluntary donations. A large proportion of these donations come from long-temi supporters involved in the activÈties carried OLrt in the centres they are funding. Extensive efforts are made to maintain relationships with these supporters and to increase their numbers. The wide spread of donors across the United Kingdom mitigates the risk from any one donor. The charity does also receive unsecured loans from these donors and has flexible terms and conditions to repay them when required by the private lender. The fees charged for residential activities are commensurate with other similar services and are set to cover the cost of running such activities. Grants given for specwfic activities or educational activities are strictly applied to those activities and efforts are made to ensure the costs are kept in line with the funding available. The directors also recognise that the charity is subject to operational and financial risks, and they believe they have procedures in place to reduce these risks.. To human life and welfare, by the adoption of health and safety policies and training To young and vulnerable people, by having in place suitable policies and procedures To operational fixed assets by appropriate maintenance and insurance To charity resources by appropriate control prO￿dureS Structure. governance and management Governing Document Dawliffe Hall Educational Foundation. also known as DHEF, is a company limrted by guarantee (Company Registration No. 1450892) govemed by a Memorandum and Articles of Association incorporated on 261h September 1979 and registered as a Charity, No. 278720 in England and Wales and SC039512 in Scotland. Organisation We operate a devolved management structure, which enables us to respond better to local needs and to foster initiatives at ground level. Our local Management Committees deal with the day-to-day management of the centres in accordance with the ethos of the Charity. They set Iheir own priorities. addressing identified needs, and may propose a national project to the Executive Committee and Trustees. The Executive Committee ensures the smooth running of the Charity. It provides SUPPOrt for individual and national projects as and when required. The Trustees meet at least quarterfy to make policy decisions and are kept fully aware of the io- DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 activities of the Charity. The Trustees of DHEF Scotland are the same as those of DHEF. During 2023 we employed 4 members of staff in Scotland. Appointment of Trustees Nominationslapplications to become a Trustee are sent to the Trustees who interview the person and explain the Charity and its aims to them. Appointment of successful applicants is then made by following the procedures set out in Articles 47 & 48 of the Articles of Association. The￿ is a policy for the provision of an induction pack to be given to 815 new Trustees which is kept up to date. There is no formal policy for the training of Trustees, bLrt each Trustee keeps up to date through Continuing Professional Development. attending courses. etc. As stated in the Charity's Articles of Association. one third of the Trustees shall retire by rotstion at the Annual General Meeting. Marta Sauri and Vivian Chinwe Nzewi both stood down as trustees in the Annual General Meeting of 9th September 2023. Marta Sauri was reappointed as trustee. Chinwe Nzewi's resignation was accepted by the Board. Ann Bennett re￿iVed no disbursement in relation to her work as the Charity's solicitor. Pay and Remuneration of Key Managem•nt Personnel The key management personnel of Ihe charity, comprise the Trustees, the Chief Executive Officer, Chief Financial Officer and the Managers of Ashwell and Hazelwood House respectively. The charity is fortunate to have staff with amazing loyalty to the charity who strongly identify with the objects of the charity. The remuneration of our staff is set in line with the financial consideration of the charity and govemment guidelines on staff pay. DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Reference and administrative details Locations Ashwell House Shepherdess Walk London N1 7NA Dawliffe Hall 2 Chelsea Embankment London SW3 4LG Hazelwood 52 First Gardens Glasgow G415NB Hillcrest 33 Plough Lane Purley SU￿eY CR8 3QG Pembridge House 29 Pembridge Square London W2 4DS Rydalwood 43 Pine Road Manchester M20 OUZ Winton 114 Banbury Road Oxford OX2 6JU www.dhef.o 12 DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Company number 1450892 Registered charity number 278720 Scottish charity number SC039512 Registered office 10 Wellesley Terrace London N1 7NA Auditor Rouse Audit LLP 55 Station Road Beaconsfield Bucks HP91QL Banks HSBC Bank plc 76-78 Kings Road London SW3 4TZ Royal Bank of Scotland 250 Bishopsgate London EC2M 4AA Solicitor Ann C. Bennett 2 Chelsea Embankment London SW3 4LG Chief Executive Officer Maria Alvarez de Toledo Chief Finance Officer Isabel Abad Directors, who are also trustees Ann Catherine Bennett (Chair) Mary Mulhall Marta Sauri Vivian Chinwe Nzewi (resigned 9 Sept 2023) Anna Burbidge Elena Cardenal 13 DAWLIFFE HALL EDUCATIONAL FOUNDATION REPORT OF THE DIRECTORS & TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Directors, and Trustees, responsibilities The Directors (who are also trustees of Dawliffe Educational Foundation for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company and Charity law requires the directors to prepare a financial statement for eath financial year which gives a true and fair view of the state of affairs of the company and of its financial activities for the period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements prepare the financial statements on the going concem basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement of disclosure to auditor As far as the directors are aware, there is no relevant audit information of which the Company's auditors are unaware. The directors have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. Signed L. La-. Date 19 Ann Catherine Bennett Chair l4- DAWLIFFE HALL EDUCATIONAL FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DAWLIFFE HALL EDUCATIONAL FOUNDATION Opinion We have audited the accounts of 08wliffe Hall Education Foundation Ilhe'charilable company'l for the year ended 31 December 2023 which comprise the Statement of Financial Activities. the Balance Sheet. tho Statement of Cash Flows and the notes to the accounts, Including a surnmary of significant a￿oUnting pollaes. The financial reporting framework that has been applled in their preparation is applicable law and United Kingdom Accounts'ng Standards. including FinancAal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdo￿ Generally A￿pIe￿ Accounting Practi￿1. In our opinion the accounts.. glve a true and fair view of the slate of the charitsble compatys affairs as at 31 December 2023 and of its incoming resources and applicallon of resourcw, induding its income and expenditure. for the year then ended.. have been properfy prepa￿￿ in accordance wth United Kingdom Genorally Acceptgd Accounting Praclic8'. and have been prePa￿d in accordance with the requirements of the Companies Act 2006. the Charflies and Trustee Investment Iscouandl Act 2005 and regulation 8 of the Charities Account Iscouand) Regulations 2006. Basis for opinion We conducted our audlt In accordance wlh Intemab'onal Standards on Auditing IUK} {ISAs {UKII and applicable law. Our responsibilities under those standards are fijrther described in the Auditorfs responsibl11￿eS for the audit of the accounts section of our report We are independent of the charitable company in accordance with the ethical requirements that are r818vanl to our audit of the accounts in the UK. Sncluding ts FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requir&menls. We believe that the audit evidence we have obtsined is sufficient and approprbate lo provide a basis for our opinion. Conclusion5 r•lating to golng ¢onc¢m In 8uditing the financial statements, we have concluded that the Iruslees. use of the going ￿nc$M basis of accounting in the Pfeparation of the financial slatements is appropriate. Based on the work we have performed, we have not Identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubl on the charitable Company's ability lo ￿ntinue as a going concern for a period of at least ttvejve months from when the financial statements are authorised for issue Our responslbililies and the responsibilities of the trusle8s with respect to going GOn￿M are described in the relevant sections of thi5 report. Other information The other information comprlses the infomialion included in the annual report. other than the a(£ounts and ourauditor's report thereon. The Trustees are responsible for the other infomialion. Our opinion on the accounts does not cover the other infomialion and. ex￿p1 to the extent otherwise explicitly staled in our reporL we do not express any fomi of assuranc& conduson Ihereon. In connection w6th our audit of the accounts. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtsined in the audit or otherwise appears lo be maledally misstated. If we identify such material inconsslencie5 or apparent material misstalements, we are required to determine whelhgr there is a malerlal misslalemenl in the accounts or a material misstatement of the other information. If. based on the work we have performed. we conclude that IheTe is a material mlsststement of this other information, we are required lo report that fact. We have nothing to report in this regard. 15 DAWLIFFE HALL EDUCATIONAL FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DAWLIFFE HALL EDUCATIONAL FOUNDATION Opinions on othor mattors prg$crlbgd by tho Comp8nl•s Acl 2006 and the Charities Accounts (Scotlandl Regulatlons 2006 In our opinion. based on th& work undertakgn in the course of our audit.. thè infomiation given in the Trustees, Report for the financlal year for which the accounts are prepared is consistent with the accounts.. and th& Trustees, Report has been Prepared in ac&Ydance with applicable legal requirements. Mattèrs on whlch we are requlred to report by exception In the light of the knowledge and underslandir)g of the Trustees and ils environment obtained in the course of the audit, we have not identified malerbal misstatements in tho Strategic Roport and the Truslees. Report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 8nd the Charities Accounts (Scolandl Regulations 2006 requlres us to report to you if. in our opinlon.. adequate and proper accounting records have not been kepl. or returns adequate for our audit have not bee re¢eived from branches not visited by us.. or the accounts are not in agreemenl with the accounting records and retums., or certain disclosures of trustees. remuneration sP8cified by law aro not made; or we h8ve not received all the informab'on and explanations we require for our audit. Responslbllltles of Trustees As explained more fijlly in the Slalement of Trustees, Responsibilities, the Trustees. {who are also the directors of the charitable Company for the purposes of company lawl are re5pon5ible for the preparation of the accoullts and for being satisfied Ihat they give a true and fair vlew, 8nd for such inlemal control as the Trustee5 detemine is necessary to enable the preparation of a¢￿Unts that are free from material misstatement, whether due to fraud or error. In preparing the accounts. the Trustees are responslble for 8ssessing the charitsble company's abllity to continue as going concem, disclosing. as applicable, mallers related lo going concem and using the going ¢oncem basis of accounting unless the Trustees gilhgr Intend to liquidate tha charitable company ¢x to ¢8ase operations, or have no realistic altemalive bul lo do so. Auditor's responslblllties for th• audlt of lho financl•l stalom•nts We have been appoinled as auditor under section 4411 Xc) of the Charities and Trustee Investment {Scodandl Act 2005 and under the Companies A¢1 2006 and report in accordance with the Ac15 and rdevant regulations made or having effect Ihereunder. Our objectives are to obtsin reasonable assurdnce about whether the accounts as a whole are free from matsrial misstslemenl. whether due lo fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of a55urance. bul is not a guaranleg thal an audil conducted in accordance with ISAS (UK) will always detect a material misslatementwhen itexists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to Influence the economic declsions of users taken on the basis of these accounts. Irregularities, induding fraud, are instances of non-compliance with laws and rggulations. Wo design procedures in line with our responsibilities. outlined above, lo delecl material misstatements in respect of irregularits'es, induding fraud. The exlenl lo whlch our procedures are capable of detects'ng irregularities, including fraud. is detailed below. The extent to which the audlt was considored capabl¢ of dotoctlng Irrogularitlos Includlng fraud Our approach lo identifying and assessing the risks of matsrial misstalem8nl in respect of irregularib"es. induding fraud and non-complian￿ with laws and regulations, was as follows.. the engagement te8m collectively had ihe 8ppropriale cofflpetellce, capabilities and skills lo identsfy or recognise nonmMe￿Ial knowledge and experience of th8 charitabl8 sector providing services to unpaid carers. we identified the laws and regulations applicable lo the charllable comp8ny.' and focusing on the specific laws and regulab'ons which we considered may have a direct materi81 effect on the financial stslemenls or the operations of the charitablè Company, we assessed the extent of compliance with Ihose laws and regulations identified abDve through making enquiries of managernent and inspecting relevanl rrespondenc*. We assessed the susceptibility of the tharilable company's financS8l stslements lo material misstslement. induding obtsinlng an understanding of how fraud might occur, by,. making enquiries of management as to where they considered thère was susceptibility lo fraud. Ihelr knowledge of acbjal, suspected and alleged fraud.. considering the Internal controls in pla￿ lo mitsgate risks offraud and non-complian￿ with laws and regulations To address the risk of fraud through management bias and override of controls. we.. performed analytical procedures to identify any unusual or unexpecled relationships.. tested journal entries lo Identify unusual transaGlions- assessed whetherjudgements and assumptions made in determining the acwunting estimatgs were Indicative of potential bias., investigated the rationale behind significant or unusual transactions.. and investigated the ra￿onale behlnd significant or unusual transaciions. In response to the risk of irre9ularlb.es and non-compliance with laws and regulathons. we ijesigned procedures which included, bul were not limited to.. agreeing financial st8tement disclosures lo underfying supporting documentation.. reading the minutes of meetings of Ih05e charged with governance., enquiiing of management as lo actual and potential liligalion and claims., and reviewing corTespDndgn¢e with HMRC. relevant regulator5 and the charitable company's legal advlsors. Thwe are inherent limitations in our audit pwdures descrébed above. The more removed that laws and regulations are from financial Iransaclions, the less likely il is th81 we would become aware of non-compliance. Auditing standards also limit the audit procedures rgquSred lo identify non-compli8nce with laws and regulations lo enquiry of the trustees 8nd other management and the inspecbon of r8gulalory and legal correspondence, if any. Matsrial misstatement5 that aTise due to fraud can be harder to detect than Ihose that arise from error as they may Involve dellber8te cortealment or collu&on. A further description of our responsibilities for the audit of the accounts is ILKated on Ihe Financial Reporting Councll's website al-. http.-Ilwww.frc.org.uklaudilorsresponsibilities. This description fomis part of our auditorfs report. This report is made solely lo the charitable company's members. as a body, in accordance wlth Chapter 3 of Part 16 of Ihe Companies Act 2006. and lo the charIta￿e company's tmstees, as 8 body. in accordance with the section 4411 Xcl Df the Charities and TNslee Investment IS¢oUandl Act 2005 and regulation 10 of the Charities A￿OUnts (Scotlandl 2006. Our audit work has been undertaken so that we might stsle to the charitable company's members those matters we are required lo stale lo them in an auditors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and its members as a body. for our audit w¢)tk. for Ihis report, or for the opinions we have formed. LcL,L LLP Leighton Bower (Senlor Statutory Auditor) for and on behalf of Rouso Audit LLP Datg: Chartered Accountants Statutory Auditor 55 Station Road Beaconsfidd Bucks HP9 1QL 17- DAWLIFFE HALL EDUCATIONAL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES AND INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Total 2023 Total 2022 Notes Income Donations and L6g8ci$s 561,512 684.309 Charitable Aclivities 920,806 846,618 OtherTrading Activities 44,022 46,475 Investsnents 134,646 35.073 Other Income. exchange ratè Vari8neb 18,284 T¢)tsl 1.679.270 1,612.475 enditurg ChBritabl8 8ctiviti8s 1.548.320 1,324.572 Exchange ralg variance 48,824 Total 1.548,320 1,373.396 Operatlng Profft 130.950 239.079 Net movem¢nt In fun 130,950 239.079 Fund balances At 1 January 2023 20,960,444 20,721,365 Fund Bal￿e•S At 31 D￿ember 2023 21,091,394 20.980,444 Thè stalgm8nt offfin3wal activibes and income and expenditure a¢￿Unt has baen prepared on the basB that all operations arg oonlinuing operations. There are no rocognised gains antJ1088e8 Other than those passing through tho statement of na￿181 a¢lwilies and income and expendrture account The statement offinancial aclivib8s also complies.wth the requirements for an incorne and gxpgndlture a¢¢ounl under Companies Act 2006. 18 DAWLIFFE HALL EDUCATIONAL FOUNDATION BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Note Fix•d assets TaNJible assels 14 18,380,176 18.432.803 Assets under constructK)n 19 1,594,596 399.341 Current assets Debtors: amounts falling du8 within one year Loan lo PACT falling due withln one year Loan to PACT falling due after more than one year 15 121.460 60.373 15 253.500 253,5CM) 15 520.000 520.000 C88h 81 bank and in hand 22 3.142.282 3.485,206 4.037,242 4,319,079 Cr•dit<)rs amounts tslling du• wlthln one ￿ar 16 12,373,677) 11.385.553} Net current assets 1,663,565 2,933,526 Totsl a55ets less current 21,63B,337 21.765.670 Credltors: amounts falllng duo aft•r mor• than on• y•ar 17 (546,943} 1805.2261 Fund$ 18 21.091.394 20,960.444 Restrthd FuThJ 15.005 Unrestricted General Fund 1,101.617 2.527,641 Unr8Strscted Designated Fund 19,974,772 18,432,803 21,091,394 20,900,444 The notes on pages 20 to 29 fomi part of these ac¢ourrts. Approved by the Board and authoris8d for ￿￿u8 on Se¢f. 2024 Elena Cardenal Director Company Registration No. 1450892 19 DAWLIFFE HALL EDUCATIONAL FOUNDATION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 N¢t•$ Met Cash from operatlng acti￿11•& 21 356.398 556,453 Cash flows from Inve8tmont actlvltl•s Purchase of PTopety, plant and equipment Pgym&nts to awuire tangible assets Intergst rg¢eiv8d 1291,7131 11,195,255) 1314.7551 1399,3411 134,646 35,073 Not Cash flows from InveBtment 11.352.322) {679,023) actlvltles Cash flows fr¢m financing actlvlttes Ngw 5hort4grm loans 680.000 9,000 Rapayment of $hort-tsmi loan8 127.0001 126,000) Ropayment of lor@-tem non 89(JJred k)ans 1360,CKJO) N•t eash flows from financlng actlvlll•s 653,000 137T,(NJOI Not {de¢reasel In cash and fa8h equivalents In the year 1342,924) 1499.570) Cash and cash equival8nts at the beginning of the year 22 3.485206 3.984.776 C8sh and cash equivalents al the and ofthe year 22 3,142282 3,485206 -20- DAWLIFFE HALL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Accountlng ci>nventlon Th& flnarrial statements are ￿parer tho ￿•r This is stated after ¢harglng 2023 2022 Depreualion of laThJible assets 344.340 319.167 Audit fge 16.940 118.2841 15,600 Foreign exth8nge Igainl noss 48.824 10. Tttxation Taxation r8COV8rable represents tax to b8 reclaimèd from Gift Aid donations lo the Charity. The chaiitable company is axgmpl from Corporation tax on its charitable ￿tIvities. 11. Grants pa5d out 2023 2022 Notes Paid to institutions 59.883 58.239 Grant paid to PACT 67.397 74.305 Totsl 127,280 132,544 -25- DAWLIFFE HALL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12. Analy$ls of Staff Costs. lJusts• r•muneratlM and ￿ponSeS, and the cost of key management porsanrÈ•l Numberof•mploy••s The av8rage monthly nurnber of ernployees (including direclorsl during the year was-. 2023 2022 Delivery of ¢h81itsble ￿tiVIti98 IAanagement And administr81ion 18 18 23 23 2023 2022 Wa9es and salorfe$ Social security costs 422.924 420.448 23.141 34.017 Pension cosi8 15.893 15,813 461.958 470,278 No efflploye88 eamed £60.[￿70 p.a. (x more12022.' £ nll}. In accordance with the Charities Act 1933 and as allowad by thè mèrni￿ndum and Artic18$ of thè Charity, paym8nts can be mad8 to the Trustees of the Charity. However. no charfty truslèè was paid or r8cèivèd any oth8r banèfits from th8 Charity this ye8r12022.. £nill. One trustee12022-. 21 was reimbursed this year for èxpens8s incurred in fulfilmènt of their duba5 a5 Trustee8.' tr8vel 8xpenses were paid to Ann Bennett £1,22512022.' £2541, Bnd £nil to Ana Burbich>12022.' £1441. The kgy management p8rsonn&l of the charity cornprise the INstees, the Chief Ex￿utive Officer, Chief Finance Officer, and the Managers of A%hw811 and Hazelwood House respectivety. The total employee benefits ofthe key management personnal of tha Foundation wgre £74,69212022'. £70,626}. 13. Rolat•d party transactSons The following directors havè mada loans to the cornpany. These have no fixed rep4yment lems and are iji8closed in the accounts under creditors falling due wSthin one y8ar. No intere81 was due or paid during the year. 2023 2022 Bennett 24.0(X) 24,000 26- DAWLIFFE HALL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Tw8lees. Key Managemerrt Persofinal, and th8irfrdmiliÈs hav8 givén thé followirYJ dDnatK>ns to DHEF. 2023 2022 Clarf( Marpry Mulhall J 1,50CI 700 750 Bennett A 600 14. Tanglbl• fix￿ assets for use by the charlty Land and Fixtures, fittlngs & •qulpm•nt Total bulldSngs freehold At 1 January 2023 Addibon8 19.973,092 134.825 2.2SI,114 156,886 22,224.206 291,713 Disposals At 31 D￿mber 2023 20,107.917 2.408,CK12 22.515.919 Dopro¢iation At 1 January 2023 Charye for the year Depreciation on disposal 2.589.893 175,106 1,201,510 169.234 3,791,403 344,340 At 31 Decembar 2023 2.764,999 1.370.744 4.135.743 Net book value At 31 Do¢&mber2023 17,342.918 1,037,258 18.380.176 At 31 December 2022 17,383,199 1.049.604 18,432.803 The figures above do not include the £1.594.59612022.' £399.3411 undgr tho heafliThJ 'Ass8ts un(Jer ConstruUJon' in the Balance Sheet which refers to the cost of WDrts related to thè properties 1, 2 and 3 Orne Court, London W2. These properties will be undergoing a complete rofvrtJishm&nl forth8 next two yeaTr. 13. Debtors 2023 2022 Tax recoverable 5,770 8.892 Oth8r debtors 115,690 51,481 Loan to PACT 773,500 773,500 894.960 833.873 27- DAWLIFFE HALL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Amounts fallirvJ due after more than one year and Included in the debtors atrnve arè: 2023 2022 Loan to PACT 520,000 520,CI)O 18. Cr•dltors: amount$ falling duo within one year 2023 2022 conceS￿Onary loans 2.211,073 1,318.073 Taxation and $ocial seCu￿ty 4,835 3,061 Other creditr)rs and accruals 157,769 64.419 2,373,677 1,385.553 All the loans arè unsecured loans. 17. Cr•dlior8: amounts falllng due after nM>re than one year 2023 2022 Concessonary k)ans 546,943 805,226 Analysls of loans Not wholly r8pay8bb within five years by instalM￿ts Wholly repayable within ffv8 year5 16.988 2,741.028 106.676 2.016,623 2,7￿,016 2,123299 Included in current liabilities 12.211,073} 11,318.0731 546,943 805,226 Loan maturity analysis 8ètW88n tsvo and five years In five years or morè 529.955 16.988 698,550 106.676 Concesslonary k)ans 8Tllounl ty £2,758,01612022- £2,1232991 are non4nleresl bå and not secured loans. -28- DAWLIFFE HALL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18. Fund r•concillation Funds 01-Jan In¢om• Expendlture Transf8T8 31-De 2023 2023 R8$trl¢ted Fund 15,005 15,005 General Fund 2,527.641 1.664,265 11,548.3201 11.541.969) 1.101.617 D95ignaled 18.432.803 1,541,￿9 19.974.n2 20,960,444 1.679.270 11.548,3201 21,091,YJ4 AJI funds are unrestrlcted except fvr a restricted grant lo A8hwéll Housè of £15,00512022: £nlll. Th8 trustees havè sèt aside part of tre unrestricted funds relating to fixed assets trat are used for thè furtheran￿ ofthe ¢harity'$ purp088s as a designated fund. This fvnd rgmains part of the unrestricted funds of the Charity, whilo quantifying the ch8rity's reserva policy and the level of reserves it holds. Fund d•scriptions a} Unr&strf¢ted funds The unrostricted fiJnds are those fvnd8 held by tho (tharity for the charitablg objective8. b} Designated fundg The fund represents an amount set adde by the trustees. from general funds, to apportlon the value of functlonal fixed assets used forlh& fvrtherance of the charity's aims. c) RgStrfcl8d fvnds Those where thè chadty has to spend the fvnd8 in line a particular purpose or project. usuolty speofw by the L1onor or grantor. Analysls of not assets botwn fund$ Restritted Fund5 Unr•$tri¢tsd FundB Do$lgnatsd Funds Total Funds AThalys15 of n•t assots between funds Tangible fixed assets Curronl assets Creditors.. amounts failing dug within one year Creditors.. amounts falling due after one year 19.974.772 19.974,772 4.037,242 15,005 4,022,237 12.373.677) 12,373.fj771 1546,943) 1546,9431 Total nel assets 15,005 1.101,617 19,974,772 21.091.394 All tunds are unrestricted except for a restiicted grant to Ashwell of £15,00512022: £nill. 29- DAWLIFFE HALL EDUCATIONAL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19. Contingent liatiilitles QHEF entèrèd into an agreement to purchase a Property. 1 Ornie Court, London W2, from Neth8rh811 Educallon81 Asswiatlon. anothw charity with ￿mIlar obiectfves, for up to £1.5rn. wrfh date ofcompletion expected by 2024. 20. hl*mbèrn guarantee Each member has guaranteed to contribute to the assets in the event of any unpaid debts should the company bè wound up. The guarantee Is limited lo £1 per memb8r. 21. Reconclllatlon of *)peratlng profit to n*t ¢a$h Inflow from oporatlng acilvltles 2023 2022 Oparatirwj profft 130,950 239,079 DeprecAation of tarKJible assats 344,340 319,167 Intwtsl re¢8fvable 1134.6461 (35.0731 Interest payable Ilnueasel in d8btors 161,0861 {30,$69) Increase in cr8ditOTS 95,124 15.025 Foreign exchang9 {gainl I loss 118,284 48.824 Net ¢a8h inflow from Operati￿ activknes 356.398 556.453 22. Analysis of and cash equlvalents 2023 2022 Cash in hand 222.282 2,325206 On deposit 2.920.000 1,160,000 Total cash and cash 8quNalents 3,142.282 3,485,206 23. Post Balance Sheet Ev•nts DHEF decided that as of 1 Janu8ry 2024. the charity would move towards separating propety management from the activiti8s of the centrès. It will do this by the creation of a completely new and independent tharity. The new chartty will be solely responsible for all aspects of the day ts day running ol aclwitlg5 in and from its Gentres. DHEF will retsin ownership of all its properties and will maintain a watching brief over the new oharity to ensu￿ Ihat all 8¢ts'vtli&s in contras in it8 properties continue to promote their objects. This adjustm9ntwlll have no effect on the DHEF balanco she8L An extremely favourable offer was m8d& for one of the charity's propertie8 in London which was accepted by the Trustee8. Transfer of tiue wll takè place in 2024. 30-