Charfty reghtradoTr number 298100
THE LORD FORTE FOUNDATION
REPORT AND ACCOUNTS
YEAR ENDED JI MARCH 2024

THE LORD FORTE FOUNDATION
IN DEX
Year ènded JI Marth 2024
Gènenl informath
Trusts•s' *Thnu￿ report
Independen¢ examiner's reptsrt
Sfarement oflT¥anal acthies
Balance sheec
Notrs to the flnan¢kal tswients

THE LORD FQRTE FOUNDATION
GE N E RAL IN FORMA TION
Year Ènded 31 M￿h 2024
The Hon Sir Kocco Forte
ICh*mian)
The Hon Mr5 0 M L A Pdr2z di Sorr¢ncino CBE
TN Sr2de MBE
A MtKenzie
G Booth
Correspond•nt and prin¢ipal addres¥
The Trusree$
rjo judy LewendoTh
78 Srlames's Streer
London
SWIA IIB
Clbarity number
298100
Independent *xaminer
G $M￿RUmsbY
Dixon Wilson
22 Chan¢ery Lane
London
WC2A I LS
Bankers
C Hoare & Co
37 Reel Street
London
EC4P 40Q
Inv¢rtment manager5
R#thbones
30 Gresham Street
London
EC2V 7QN

THE LORD FORTE FOUNDATION
T R U ST E E S
ANNUAL REPOR T
Ytttr ènded 31 March 2024
The Trv$tÈes submit their annual repor[ Eoze¢hvr the &c￿l￿￿ d the Foundatyon for the year ended 31 Marth
2024 bthch have been prepared in acc¢rdance with current st￿Lrt0ry requirements and in attorthnce with rrs
8o¥erning dcoJmenL
con5d￿￿On
The Lord F+Jrte Foundarion w8s loutKIEII by the ￿te Charles Forte. Forte of Ripley, and is governed by a Trust
D¢Ed dared 17 November 1987. aThd reg￿tered 35 a chariry. nurnber 298100. The Trustees have wide powers tg
administer the Foundation and to raise and invest fund& The Trustee5 m2y not however rw5e funds by under￿king
any pernianent trtdinK aoivides, nor may any rrustee be appointed ro any 5Iaried office of the FO￿datIOn.
The Tru5t¢es who Served during the year art listed on page 2. The power of VJinElrrf new trnsreds is held by the
Trustees.
When ID¢king for new trustees, the Trusree5 may seek rectsmmendaty'ons from 5tskeholders in the hospitafiry and
t¢rlTrg industyy, InclJding maSor eryltsyers, trade associatlon5, m¥or grdnt reopients. and the hoEel and ca*rlng
educatlonal establishment genernlly. The dets$h￿ on sdecwi ts a matter for the TNJstees.
All the Tru5teo give ol their ume free￿ and no tNsee8 remuneration wa5 pald during the year. Npither did thè
Trustee5 receive reinbursement for any wenses. Trustees are required ro di5ck+se all relevant In￿reSts and, in
accordance wlth th8 Trust's policy. wffhdraw from deci$lL￿$ where a conflicc 01 lnterost3ri5es.
prtftcipal officè
The office ofthe charity ￿ as showTh on page I
Object and artiirytiu for the publi£ b¢nellt
The obieit of rhe Foundation, a5 set out in th¢ Trt￿t DeÉd, is co erKourage excellence within the of hospitalrty.
encompassing the hotel, u￿ring• tyavd and tourism Industyie5 withID the UK overy¢as.
The Foundation adbi¢ves otyect prin(ipaJty by making *wards diredy to eduTrtional est*Aishtnents whi¢h provide
rJinlng cwrses or carry OLrt re$e¥ch or other prqects rdating to the h05Pitaliry industry. These educ3t￿nal
estsblishments art, in the rnain. tyen to al membwB ofthe gener4 public Ytho appty to them and meet their academic
d orher entrance criteria. The Foundation seeks to provide financ￿ support which rowards exCel￿nt&. and
specrfically assists In meetyng the costs of swdy (or those trom poorer backgrounds. By focusing on these areès. the
FoUThdat￿ achie¥t$ ffs mteyc gbjeetyve ol promotyng e(hJtatwJn and exce1￿ce withln the fiel¢J ol h05pitslity.
PubliE benefit
The trustee& h3vkng regard to the Publir benefi¢ widan¢e puilshed by the Chatyty Cornmlsslon in accordance with
sottion 17 of the ChariTies Act 2011, tonsider that the purpose actyMtie5 of the Ftyjndavort sathty rh¢
requlremencs of the publ5¢ benefit test se[ out in ¥ecdon 4 of th? same xt.
RerAew of activities. results and resems poll
As shown on page 6. the Foundation's funds in￿e&s￿d by I225B25 in the ￿ded 31 Marth 2024 12023 -
decrease ol £190,4ni and totalled £3,169.650 as at the erHJ of the ye•r12023- LI943.8251. The incrwe in funds for
the year included in¥estrnent income of £73.$6112023 - £73,907) and net gains on the Tnrstee5' investment porrfdio
of £231,557 (2023 - net losses ol C154.60B). as well as expendiwre on tharitable attiviiiÈs. which induded grants cl
£62.00012023 - 192,5001. The Trustees a￿￿¢￿ m*ing gnnts in fvture Ye￿ equfvalent to th•r annu31 intome and
re8ard their reserrt5 as being at an ¥propriar¢ levd for this Dbiectsvo.

THE LORD FORTE FOUNDATION
TRU 5TEES
Year ettded 31 M¥ch 2024
Inve$tmÈrtts
The Tru5Eees have invested the maitirw of th*r funds wKh Inve5te¢ Wealth & ItwesuDenr ￿"mited wlth the mandate
LQ generate ncome ol over £60,01￿ per annum bvhi15t protectingthe underf￿n£ valuè of the fvnds In re￿ renns.
Rfsk
The Trustee5 hfft con5idÈred the rnxjor risk5 to wh￿h the F¥undatKJn is exposed 3nd have established 5yEiems and
procedure5 fo mi￿￿te those rK%ks. The Twsiees cwslder the Yariablity of invesuner¢t rewrr6 to ¢onsdtuts the
Foundaoon'5 major risk. They haye therefore ensured their Fnvestment p0rrf01￿ 15 well &iversfied and designed to
protect the (apid W￿￿e over the long ￿rrn and produ¢¢ a S￿dY kncome rewrn wfund granrs.
Aceount$
The accounu are sec out on page$ 6 to 10 and ￿ve been drawn up in accordahte with the a£counDng polla6$ Set
on page 8 and cOr￿ty with the FOUndat￿n,￿ Tnjst DeEd. the Charitfes Att 2011. and Attounting and Reporting by
Chariti25.' Sratement of Recommended Praerice a
icable to preparng the4r accounts bn actordance wth the
Financial Reporring Stsndard ap￿1(able kn the UK And Repubjic of Ireknd IFRS1021.
By order ol the
THE
SIR ROCCO FORTE
2S12nua
2025

ThE LORD FORTE FOUNDATION
I N DEPE ND E NT EXAM INER'S RE POR T
Year ended 31 March 2024
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF
ThE LORD FORTE FOUNDATION
l ￿pOrt to the trustees ¢)n my examlnation ol the *ccounts gf the Fouhdarion for The year ended 31 March 2024.
Respon¥ibilities and basis of report
As the trustees of the Foundation you are responsible for the preparation of the accounts in xcordince with the
requirements of the Charitie5 Att 2011 I'rhe Ac¢J. You ire 5arisfied tha¢ an audi 15 ntst requlrèd fc+r th15 year
under charity Faw and that an independent examination 1% needed.
I report in respeci of my examInat￿n of the Foundation's accounts tÈrried out under secuon 145 01 the 2011 A¢¢
and in carrying out my examlnatyon I have fdlowed all the aPplic￿e Direalons given by the Charfry Commission
undèr section 145151{bl ol thè Act. Dixon Wdson, a firm of Chartered Ac¢Dunrants of whlch l am a partner ha5
provided bookkeepiTr8 seryites to the Foundarion and I have ¥plied the FRC'S Revised Ethical Standard ¢arryln¥
out rny examination.
An independenr examinaiion doe5 no¢ invdve Dth¢ring all thè evidence thar would be requred In ￿ audit #nd
consequently does noc cover all the matters than an avditor considers in thtlr opinion on the accounts. The
pknnning and £ondurt of an audrc goe5 beyond the limited asjyrance thar an independent exarninaEion can provlde.
Coh&¢quenEty, l express no oplnltsn a5 to whether the a£counts present a 'true aThd fw'r. Vlew and my report 1$
linited to those specthc m*tter5 set in the independent examiner's ¥tatemenL
Indwndent exthnerfs Statrment
l am qu￿thed to undertak¢ the •xamlnaiion by being a qualffi¢d mernbtr of the Inst￿le of Chartered kcountants
in England aThd Wales.
I have completed ry examinJrion. I confirm that no macerial matters have come to my attentitx in tonnettion wrh
the exominaciM yvlng me cause to believe thai ￿ any rtNi¢eri￿ respetr.
a¢coursting re¢ords were not kept kn re$￿c¢ of the Fo￿day0￿ as required by section 130 of thè Affj or
the acE¢unrs do not accord with those rectsrds: or
the XCQUhfS do not ¢ompty wth the appliubl¢ requiremenrs concerning the form and conr*n( of ￿￿ounT$
set out in the charit￿ IA¢counts and Reports) Re8ulati005 2008 other than any requirement thai the
accourts give a 'true and wew. which is not a matter eonsidered a5 Part of an thdependent examination.. or
the accounii have not been prepared in accordance with the methods and Princi￿t$ of the Staternerbt ol
Recommended Praetiee for accountlng and reporting by tharities applicable to tharipes prepanng thelr
accounu in accordancè with thé Financi￿ Reporting Standard applicable in the UK and Repubk of Irtland
IFRS 1021.
I have concerns and have ceme across no matters in eonnettion wfth the examination to whlch attention should
be drawn in this reporr in order to enable a proper uTr4erstanding of tht accounts ro be reached.
G SMYE
Dlxon Wlls
21 Chancery Lane
Ltsndon
MSBY ACA CTA
wc￿ ILS
27 january 2025

THE LORD FORTE FQUNDATION
ST A TEM ENT OF FI NAN CIAL ACTIVITI ES
Year ended 31 March 2024
General lund
Note
2024
2023
Income
Inve5trneiic Inwme
Dottaucns in klnd
Bank interesT
73,581
7500
919
73,907
7.500
367
Totsl income
81000
81.774
Expenditure
CosL5 of ¥eTheraiing funds
. Investment Ma￿gemEnt Costs
117.7721
fl 7, 188)
Expenditure on charitable aai*itie*
- Grnnts
. Governance costs
162.ofK>I
17.9601
169.9601
f9ZS00)
17,9501
1100,4501
T¢>tsl expendlture
187.732}
{117.6381
gain￿{1055*3) on invesrrnents
Net incumel(expendltur¥) for thè y¢ar aAd net movèmont in funds
Tgral ffijnds brought forward ar l April 2023
Total funds caTrTied forward *¢ JI M4r¢h 2024
231,SS7
1154,6081
1190.4721
3,134.297
225.825
2.943,825
3.169.650
2,943.825

THE LORD FORTE FOUNDATION
ALANC E SH EET
Year ended 31 MaKh 2024
Note
1024
2023
Axed aMÈts
Invèstments at m**ei value
3,059,278
2,671,008
Debtors
Cash and osh ¢qu￿￿¢￿tr
26
114,070
30
291165
114.896
291195
Credittsrn. AmouDts falllnz du¢ wlthln on¢ y•ar
(4￿14)
110,372
119.378J
272,817
Net rurrent as¥ets
3,169.650
2.943.825
Gener41 fvnd- unrestyleted funds (page 6)
3.169.650
2,943.825
The financRI startments cn page5 6 to 10 were approved by the rrustee5 grb 23 January 2025 and were si8ned on thetr
behaKbr.-
THE HO
Truffte
SIR ROCCO FORTE
T N SCADE MBE
TrI￿e

THE LORD FORTE FOUNDATION
NOTES TO TH E FINANCIAL ST A TEMENTS
Year ended 31 Ma￿h 2024
A¢tounting polldès
Basls of preparation
The fInana￿ statem¥ts have bg•n prepared n accor¢knte with the knounting and Reporring by charl￿e5..
Stateme￿ of REcommerwJed Prac￿ce applicatAe to charities preparing thelr attounrs in acctsrdance the Flnanctr
ReporringSt3ndard applicable in the UK and Kewjbfic of IrelaThd IFRS1021 the Charities Art 101 I.
The financial statements havo been prepred under the historf¢al tort convenoon with items reco¥tbised at cost or
ansattion value unless otherwise 5u¢ed in the accwnt(ng pohcks b¥low.
The FOUnda￿On ctsnsiirJJtes a publK benefit a5 defined by FRS102.
The trustees coD5ider that there are no un¢eroin¢i¢5 about the FoundAtyon's ability to continue as a going ¢oncerrL
Fund structure
Unrestricted lund5 art awdilèble for use at th¢ discret￿ of the tr¥stees ￿ fvrtherance ol Ehe Eeneral objectives of
the Foundation.
Income re¢ognltlon
Ihetsme is rectsgnlsed once rhe Foundarion hAs etltsdemtnt ro the Incom& bf is prob8ble Imvre likety dmn notl that
the incom will be received and the monetary value Can be measured with sufficient rddiility. Donamcns In
represent the co# of donared SEr¥lces received during the year v￿ued at the pn'ce thi¢h thE Founthtion would pay in
the open mark¢k where thi5 can be re3sonably qwtified.
E￿¢￿ItU￿ refoznltlon
Expendiwre ¢>n grant5 15 recorded oDr¢ the Fo￿d**JOn has made an uncondioonal commivnetbt to pay the grant and
th15 15 communicated to the ￿eficIary or the grant h% been paKI. whithev¢r h the earuer. Other expondiwre is
induded On an acuu31$ b2SiS.
Investmènts
Invesfments are included at frair fdlue usvig the dosint quotsd market prices x the balance Sheet dat& Al realistd
and unrg31ised gairbs and10sses are tsken to th¢ $￿ternent of aryanc￿l acu¥itie5.
Fln•n¢lo1 Instruments
Finantial iTrsrnJments are areounted for. accordlng to the substsnce of the contrattual arr3ngÈmenL as fir￿ncilI
assers and ffinanCI￿ liAblliise$.
Inv¢stment Income
2014
2023
Diwderth irrterestfrorn listed investments
73381
73.907
Donations in Idnd
1014
202J
Prtrbo￿ independent ¢¥2mination Ind accowntancy fees
7.SOQ

THE LORD FOATE FOUNDATION
N OTES TO THE FINANCIAL ST A TEM ENTS
Year ended JI March 2024
Gr4nts
2024
2023
Grants to in$titlltiOnS thx prtryide tr*ning c+￿rsel in the h05Pit31ity industry.
Edinburgh Napier UThiver5ity
Gokj Serwte Foundation
Hotel Sth(
In$d(ute of Ho¥pitaficy
L*kefield Traitbing Centre
Perth Cdlege Development Trusr
Queen Margkrer UniversKy, E¢linbur
Springboard Chartsble Trust
The Innholderg Charittbk Founthdon (Mastyr Innhc4dgr5}
The Vittor Cesernii Hospittlitystudent Memor￿1 khoknrship
Univ¢rsity of Strathdyde
5.CQO
15.000
15,000
4.CM)O
5,000
IC¥)0
30.OOLI
125OQ
15.OOQ
15.OOC*
10,000
S.OOC*
5.OOQ
7.500
3.500
5.Q)O
62.QOO
92JOO
Govern*n¢¢ Costs
2024
2023
bono kndepend+mt exarninatyon lees
Pr¢-bono accountsncy fees
B¥)k ch2rge5
1.500
6.OOCI
450
460
7.960
7.95t)
None oftheTrtJsrees reEElved any rernunerndon or expense reirnbursements itt the year undÈr review (21ll3- £nill.
Staff numbers
The average number ol persons émpbyed by the Foundation during the year was nil Q023.. nll)-
Fixed ¥ss•t Invertments
2024
Ustsd knvestments
Market vakK at l April 2023
Addition5 at cost
2,671.008
85Q645
1693.932)
231.557
Dlsposll prcK2eds
Ne¢gains on inv•5tsnÈnrs
Market Yak* at 31 March 2024
3.059,178

THE LORD FORTE FOUNDATION
NOTES TO TH E FI NANC IAL ST A TEMENTS
Year ended 31 Mar¢h 2024
2024
2023
Acctijed inc¢me
826
30
Credltors: amovThts falllngdu• wlthln on• y*ar
2024
2112>
Grants ￿y￿b
Accrva15
15.000
4.378
4.$24
4.524
19,378
10.
Rela¢ed party transactions
There were no relatèd party tran￿￿tIonS req￿ring disd05ure in the year.
Flnanci￿ instruménts
2014
1023
Financial assets at hir value
knvestments
3.059,278
2.671.008
Financial a55trs at amorrised cost
Accrued incorne
Cash and cash eqU￿￿entS
826
114,070
30
292.165
114,896
292.1*5
FlThan£1￿ Ilabillti¢S at amortised cosr
Grants payab
Attruals
15,000
4,378
4,524
4524
19,378
10