Ch*ity rngl$tratlon number. 298100
THE LORD FORTE FOUNDATION
REPORT AND ACCOUNTS
YEAR ENDED 31 MARCH 2022

THE LORD FORTE FOUNDATION
INDEX
Year ended 31 March 2022
GeneTrl infcmatyoTh
Trustees, annu￿ report
In&pendentexamlnerfs report
Statement of ffinanctal 3crivtrées
Balance she•t
Notes to the f￿￿¢1•1 Statements

THE LORD FORTE FOUNDATION
GENERAL INFORMA TION
Year ended J l M4r¢h 2022
The Hon Slr Roc¢0 Forte
Ichalrman)
The Hon Mrs O M LA P¢lizzt di SOrrent￿O CBE
T N Sode MBE
A McKénzrd
G Booth
CorroWrtd•nt and principal addrejs
The Tru5rèes
clo Ju¢ty Lewwdon
70Jemyn Stre¢c
London
SWIY6
298100
Ind•p•nd•nt exw￿lner
G sMye￿msbY
Dixon Wilson
22 Chancery L￿8
London
wc￿ ILS
Bank•
C Hoare & Co
37 Fket Street
London
EC4P4DQ
Investment managers
Irwestec Weafth & Investytht knmited
30 Gresham Street
London
EC2V 7QN

THE LORD FORTE FOVNDATION
ANNUAL REPOR T
TRUSTEES
Year ended 31 March 2022
The Trurtee5 submir their an￿￿ rep)rt togeth¥ with the acCoUr￿ of the Foundatiorn for the year wded 31 March
2012 which have been prepared
in accordante curwt $Thtytory rtquirements in Kcordan¢e its
8ovwnln8 &3cumen¢
The Lord Forte Foundation was foun¢Jed by the I￿ Charles Fort< Baron Forte of ￿Pley, and 15 gmrned by a Trust
Deed d￿d 17 November 1987, and regittered as a thariry, numhr 298 Ic#). The Trustees have wde powers to
admini5t¢r the Foundathy) and to raise and invest fijnds. The Tnjstees may not however raise knds by undÈrtakJng
any permanent tt7dkng aCtI￿tIeS nor may any trusree be appointed to any sakned offl¢e of the F¢)undatioTh
Trurtees
The Trus￿eS who s¢Thed durlns the year are Ilsred on page 2. The power tsf ¥pointiry trnscees Is hekl by the
Trnstee&
When loo￿n8 for tru5tee% the Trusctt5 may seek r¢commendaDons from stak¢holder5 in the hosplTalty and
¢atering Industry. inC￿ding major employer& fftde assocl2tions rna￿ Brant reclpi•nu, and the hot*l and ￿terIng
ucaiionl establlshmentgenert1￿. The deci5ior* on 5elettion is a matterfor the Truste2&
All the Trustees glv• of thelr time freely and no trusta• remuneration w25 pald du￿ng the pr. Neither did the
Trustees r4¢eive r•mbut3ement for ¥ny Èxpen￿ Trustee5 are required to dlsdose am rdelant intere5u and, in
I￿Or￿nCe wth the Trusrfs pohcy. withdraw frorn dea5ions where a conffrrt of Inreresc arlse5.
Prirt1P￿ office
The prinCIp￿ C*fflce olthe dw5ty is as shown on page 2.
Oblert and •rti¥ities forthe public hhetk
The object ¢f the knjndation. as set out rn the Trust Deed is to en￿rage ex¢dlence witlun the ffields of hosplralw,
encompasslrlg the hotel caterin& travel and rourfsm in¢JJ51f1¢5 the UK and oversets.
The Foundation Xh1￿¢$ its 0￿.¢¢t prindp1￿ by makirg awards direttty to educatyonal •st2blishmÈnts which provlde
t￿nIng course5 or cary out research or other prole£t5 reknting to the hospitality indusDy. These educati￿81
•st2bli5hments ar< in the maln, open to ajl mwnber5 of the general publlc who *p￿Y to them and mteeth￿r academlc
and other entrance crrterta The Foundat*)n seek5 to provide financial support which rewards excelkncq and
$pe¢¢ficalty assist5 in meeting fhe Co$￿ of study for thos¢ from poorer bad¢grounds. By bcusing on are44 the
F?unthtlon athleye5 its 5tratebc objeuive of pr¢moung eduJtIC￿ and excellence %rfthln thefjeld of hospftafity.
Publlc ben*fft
The trustee$. h*vin8 reyd tv the thlic benefrt 8wdance pubh5hed by the Charity Commi55ipn in acwrdance with
section 17 of th* Charives Act 2011, CC+nsider that the purpose and attirf1￿ pf the Foundltion satysfy the
requlrernems ofthe pubk benefft test set ¢ut in section 4 ofthe same a¢L
Revlew of acti¥ltle4 results and rey•rnes policy
As shown on pw 6 the Foundatw)n's fvnd5 increased ty £151.n2 in the year ended 31 Marth 2022 (2021
increase
Of £5217661 and totakd £3.134.297 as ar the of the year (2021- £198157S}. The ifi¢rease in lunds for the year
induded investment income of £61973 P021 £645981 and ne¢ gains ¢n the Trnstees. investmEnt porrfolio ot
£165,041 {2021- £SCQ.3 ISI. as well a5 expendirure on charifable whith induded grants of £63,35012021
£25OCQI. The Trustee$ anticip￿¢ m8king rn in futy￿ year5 equir4knt ro thelr ￿TrUal income and rex¥d thetr
reserve$ as belng atan Appropriate kvel for th6s objethe.

THE LORD FORTE FOUNDATION
TRUSTEES
Year ond•d 31 M•rch 2022
The Trust•¢s have invemd the mjorty of their funds Nvith bwestsc Wealth & Investment LIm￿d with the mindato
to ￿erat• •i£orne of over £60,000 per anNrn Yknijtt PrOte￿ing the undertying ￿ue ofthe fLmds in real rernis.
Ri$k
The Tru$rees havt Co￿ldered the major risks to whlth the Foundadon is exposed and have established systems and
procedures to miiigate those risk5. The Tru$tre5 consider the variabifw of investsn¢nt revjms to con5tityJ¢è the
Foundation's major Thèy have therefore ensured their investment portfollo 15 wem diversified ab)d d￿￿ed ro
proreet the wiltsl vthe over the bng term and produce a S￿dY in¢c•me rewrn to fijnd 8rant%.
The accounts are Set out on pg8e5 6 to 10 and havt been drawn up in a¢¢ordanEe wlth the xcounting poficies set out
on page 8 and campty with rhe Foundatlon's Trurt D¢ed the Ch2rltie5 Act 2011, A£counring and Reporting by
Chan"t4es.. Sutemenc of Recorntnended PractKe applK3ble ¢0 chariues prep￿ring theÉr ac¢oLMts in accor&nce thg
Firwicial RePOr￿ng S￿d￿rd appkable in the UK and Repubk of Ireknd (FRS102}.
y order of the Tr
THE
ON SIR ROCCO FORTE
2023
30 January

THE LORD FORTE FOUNDATION
INDEPENDENT EXAMINER'S REPOR T
Year ènded 31 March 2022
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE LORD FORTE FOUNDATION
I reportto th¢ trustees on nyy examinatign of th¢ accoums ofthe Foundation lor the year ended 31 Marth 2021
Re5ponslbillties and ba819 of report
As the trustees C+f the FoundauoTr you are responsible lor the preparation d the accpunts ift aCcord￿ce with th9
requlremenr¥ of rhe Charities Att 2011 I'the Ac¢'l. Ygu are satisfied that an audlt is not required for thls year
under charity law 74nd an indep8nden¢ ¢xarninavon is rrteded.
I report in rwjert of my examination of the Foundation'5 xcounts £3rried out Lmder secll￿ 145 of thè 101 l Act
and Sn carrylng rny exarninarion I have followed all the applcable Direction$ given by the Charity Commisslo
under settlon 145151{bl of the Acc Dixon W1150n, a flrm of Chart•red Accoyntants of which l am a partner has
provided bookkeeping servlee5 to the Foundarlon and I have appled the FRC'S Revi5Ed Ethical Sondard In carrying
out my examination.
An independent examinatyon doe5 nct inYol¥e ythering all the evideKe that wwld be regtsired in an audi¢ and
consequenfty do•$ not cover all the matters than an auditor conslder5 In &vlng th•lr oplnion on the atcounu. Th•
planning and conduct of an audrL goes beyond the limited assut7nce that art independent èxamination can pro￿de.
Consequendy. l expre35 no opl￿On as to whether the accounu present a 'tyue and fw'rf view and my report 15
IIFnlted to thwe specific matters set ouc In the independent eX￿Ine￿5 su¢emenL
Independerrt examln•e$ statement
l am qu￿ffied t¢ undertake the oxaminltyon by being a qualified MeM￿r of the of Chartered A¢countants
In England and WaYe5.
I have completed my eyamlnauon. l Confimi that marerlal matters haye come tp my actsntion in connectbn with
the e￿niT￿￿on givlnz me cause to beli￿ chat In rnaterial res
accountyng records were nvt kept in respect of the Foundwon as required by sectson 130 0lth¢ Ac¢ or
the ac￿1￿￿ do not accord with those re¢ords: or
the accouThts do not compty wtth the applicable requirements concernin8 the forni and content of accounts
set in the Charities (Accounts and Report51 Re8uI)¢ion$ 2008 txher than any rtquirement that the
accounts ￿ a true and fair view, which is not a matter consldered as part ol an Independent exam1n1￿oD,. or
rhe atcounts have not been prepared in a¢cordance wlth the methods and princWe5 of the Statement of
Reccthmended PractSce for accounting and reportlng by charities applicabl¢ to charityes preparing thelr
accounts in accordance wlth the Finantial Reporring St￿dard applicable in the UK anij Republic of Ireland
{FRS 1021.
I have no contern5 and have come acr055 no matters in ¢onne¢uon vrfith the examination tc* which attention Should
be dr4wn in thls report In order w enable a proper undersrandlng of the accounts w be r¢ached.
G SMYE-RUMSBY ACA cfA
Dixon Wilson
22 Chancery Lane
London
wc￿ ILS
15 February 2023

THE LORD FORTE FOUNDATION
ST A T EMENT OF FI NANCIAL ACTIV ITI ES
Year ended JI mA￿h 2022
Genertl fvnd
Jtrictsd
Un
2022
2021
Income
In¥esunent thcomE
Dona￿on$ kind
61973
7500
04J98
Totsl Income
74473
69598
Expenditum
C¢)sts ¢f generdtlng funds
- Invesmwnt management co
pendltyJFY (hariuble acthties:
- Grdrrts
- GovernwKe costs
(18332)
(1&877)
163,350)
17,910)
1,260}
125.000)
(5.270)
P0270)
Totsl expendi￿re
{89.7921
{47.147)
Net sains on inves¢rnents
Net Income forthe year and net movement In funds
Totsl funds bmught forward at l April 2021
Total fvnds carried forward ae J l March 2022
165041
500J15
522.766
.1459.809
2.982J75
ISl,722
1982375
3,134297

THE LORD FORTE FOUNDATION
ALANCE SHEET
Year ended 31 March 2022
2022
2021
Fixed assets
Invesurtnts at rna￿et ftlue
2014,557
1823J87
Debtors
Cash and cash aqwafer
1,712
347,734
2.675
185.868
188543
129J55)
159.188
349,H6
9,7061
319.740
CreditoY% Amounts fallnR due wlthln oneye
Nèt current amts
2,982575
Net wsets
3,134.297
General fuDd- umertrirted funds (page 6)
3,134,297
1982.575
The finan¢lal st*ements on pyi 6 to IQ were approved by the tru5w on 30 January 2023 and were Si￿ed on
th*r beha¥ b
THE
SIR ROCCO FORTE
Trustee
T N SCADE MBE
Trwtee

THE LORD FORTE FOUNDATION
NOTES TO THE FINANCIAL ST A TEMENTS
Year ended 31 Mar¢h 2022
Accountlng polcleg
Basis of prepaAtl¢)n
The finan¢r41 statemerts have been prepred in arcordance with the and ReporifTrg by Charftles:
Ststement of Recommended Prnctice applicabk to tharitie$ preparing their acctsunts its acwrdanc£ wlth ihe FknancAI
Reporrlng Stanthrd applic2bk In the UK and Republic of Ireknd IFRS102} and the Charlue5 Act 2011.
The finjncll sratsrn¢n¢s have been prepared under the historical cost convend¢n ￿th Iwns recognlse¢J at cost or
sI￿¢n ￿lue unles5 other*i5e stated in the attountinK ￿h¢le5 bebw.
The Foundati¢Th con5titures a pd)lic Eenefft endy as defjned by FRSIOI
Thè trustees con5iderthat there ar* vncerralnties about the Foundatlon's abllty to contlnu• as 3 go￿8 concern.
Fund strurturn
Unrestricted fund$ are a￿lable for use a¢ tho dlscretion of the trus￿e$ in furthernrtct of the gener￿ objewvos Of
the Foundatlon.
kncom• reco8nld•n
cgrne is reco￿1$ed once the Faundation has entitlement to thé incom4 it is probable {rnore hkely than J)ot) that
the income will be rec•¥¢d and the monetary vak* ¢an be measured with sufficien¢ reliability. Donation$ Sn kind
represent the cox of donared serrfces receNed during the year W￿￿ed at the prtce which the FOuThda￿on would pay in
the open m**ek Nthere this be reasonabty qLWltified.
Expenditure re¢ognhlon
Expenditure on grants Is rtttsrded once the Foundation ha5 made an un¢onditioNI ¢omrnFTrnen¢w pay the grant and
thi$ is communitated to the ben¢fickgry or the grarrt has been pwd. whitheyer is the eadier. Other expenditure Li
In￿ded on an x¢NaL% basis.
InY•stmÈnts
knveStsn￿ts are induded at falr ￿&￿e using the dosing quored market prfees at the balance $heet aa¢e. All rea¥sed
and unrdised pn5 and ltssses are taken to tho 5(*meDt offlnanchE activrfe>
FlTran¢lal rnstruments
Financbal Ins¢ruThents are Xcounted for. a¢eordlng to the sub5tan¢¢ of the Contractu￿ arr4r¢emenL a5 financi
aSSeLS and fi￿ncIal liabilities.
Inv¢stnxnt Ine¢me
2022
2021
Dryldend$ and In¢eres¢ frrjm listed kn¥estm•nts
6&973
64598
Don*tlons In klnd
2022
2021
Pr￿b￿n0 indépendent eXarnirAt1￿ and accountancy foes
5.OCk)

THE LORD FORTE FOUNDATION
NOTES TO THE FINANCIAL ST A TEMENTS
Year ended 31 M•rth 2022
2022
2021
Gr3nts to lTrsdtiJu¢ns that PrO￿de tnining coursts In the hospitaw In￿S[V.
Edlnbur8h N¥itr University
Hotel School
L2kdEld T￿nIng Centre
¢Jeen Margaret UnNerslty. Edknbw8h
Springboard Charitsble Trurt
The Innholder5' CFraritable Foun&￿0￿ (Master Innholdersl
The Wnie Guild Chwitabk Trwt
unfver￿ty ofSu2thctyde
5.000
10,0
5.650
15.oc
15,C
10,c4)0
25,000
63.350
25.0
2022
2021
PrtrbonD widepeThtht eX￿In#l￿n fees
Pro￿0￿0 accountsncy he5
Bank tharge5
I.5￿)
410
270
9.155
5.270
None of the ttiJs¢e8s recdved any remurtention or expense reimtyJrsem¢nts ￿ the year under r￿eW PO21- £niD.
Staff numb•
ThE Avera¥e number of persons empksyed by the Foundation during the year was nil (2021.. nll).
Fixed 4Met knvertments
2022
Llsted Investments
Mitthet tAILt at I Wil 2021
Add￿0Th1 x CQSE
1823,387
399,S07
IS73J781
165.041
Dispo￿ proceed$
Netgaln5 on InYe5¢ry*nCS
Marke¢ value It 31 March 2022
1814,SS7

THE LORD FORTE FOUNDATION
NOTES TO THE FINANCIAL ST A TEMENT5
YeJr eb￿d 31 Mar¢h 2022
2022
2021
Attrued intrrest
1,712
1675
Cr•ditor% wntsunts fallngdme wlthln one yw
1022
2021
Grants payable
25.t
4J55
29.355
4,706
29,706
10. Relltsd party trans•cti(
Th¥re were no related party tran5Ktyon5 requiring dlxb5ure year.
Flnancial Injtruments
2022
2021
Finanual usets atfair
Inve5(ments
1814.557
2,823.387
Finantlal assets a¢ a￿nISed cosr
Accrued iThwesr
Cash and cash eqUi￿lents
1,712
347,734
2,675
185,868
188,543
349.416
FlnancAI liabiliti¢s ar amorrised cost
Grants p3yabl*
Management feÈ5
25,￿0
4,706
25,000
4,355
29.355
29.706
10