The Halifax Foundation for Northern Ireland
Statement of financial activities (incorporating income and expenditure account) for the year ended 31 December 2023
| Unrestricted | Total | Unrestricted | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2023 | 2023 | 2022 | 2022 | ||
| Note | £ | £ | £ | £ | |
| Income from | |||||
| Donations | 5.1 | 1,495,685 | 1,495,685 | 1,375,206 | 1,375,206 |
| Grants returned | 28,889 | 28,889 | 23,044 | 23,044 | |
| Investments income | 5.2 | 68,191 | 68,191 | 70,037 | 70,037 |
| Total Income | 1,592,765 | 1,592,765 | 1,468,286 | 1,468,286 | |
| Expenditure on | |||||
| Charitable activities | |||||
| - Education and training | 4 | 492,232 | 492,232 | 455,206 | 455,206 |
| - Social and community welfare | 4 | 1,282,118 | 1,282,118 | 1,155,939 | 1,155,939 |
| Matched giving | 4 | 80,161 | 80,161 | 66,018 | 66,018 |
| - Raising funds | |||||
| Investment management costs | 10,465 | 10,465 | 11,166 | 11,166 | |
| - Total Expenditure | 1,864,976 | 1,864,976 | 1,688,329 | 1,688,329 | |
| Net (expenditure) before investment gains/(losses) | (272,211) | (272,211) | (220,043) | (220,043) | |
| Net gains/(losses) on investments | 17 | 27,619 | 27,619 | (255,531) | (255,531) |
| Net (expenditure) for the year/Net movement of funds | 17 | (244,592) | (244,592) | (475,574) | (475,574) |
| Reconciliation of funds | |||||
| Total funds brought forward | 2,358,111 | 2,358,111 | 2,833,686 | 2,833,686 | |
| Total funds carried forward | 15 | 2,113,519 | 2,113,519 | 2,358,111 | 2,358,111 |
There were no other recognised gains or losses other than those listed above and the net income for the year. All income and expenditure derives from continuing activities.
The accounting policies and notes on pages 16 to 27 form part of these accounts.
13
The Halifax Foundation for Northern Ireland Balance sheet as at 31 December 2023 2023 2022 Note$ Flx¢d 4$sets Intangible assets TangAbl¢ a55¢ts Investments io 5,900 2,410 1,695,285 1,703,595 2,517 1,654,857 1,657J74 12 Total fixed assets Current assets Debtors 13 860 Cath at bank and in hand 663,969 664,829 (254,905) 409,924 2,113.519 957,784 958,651 (257,914) 700,737 2,35&111 Tot41 current OS8ets Cr¢dllors: amounts falllng due pAthln ont y¢4r Net current &S8ets 14 Iyel assels The funds of the charlty: UDrestrlcted general funds Tolal ¢harlty fuDd$ 15 2,113,S19 2,113,519 2,358,111 2,358,111 The accounting policies and notes on pages 16 to 27 form part of these finAncial statements. These financial statements of Halifax Troundation forNorthern Ireland re8iStered number N1019019 were approved by the Board of Tru51ces and authorised for issue on 13 June 2024. Thry were signed on its behY41f by: Mrs Gillian Boyd Chalrl Truslee 13 June 2024 The Hglifax Foundatlon for Northern Ireland Registratlon number: N1019010 14
The Halifax Foundation for Northern Ireland
Statement of cash flows for the year ended 31 December 2023
| 2023 | 2022 | 2022 | ||
|---|---|---|---|---|
| Notes | £ | £ | ||
| Cash (used in) operating activities | 17 | (340,295) (263,540) |
||
| Cash flows from investing activities | ||||
| Dividend income | 5.2 | 68,191 | 70,037 | |
| Purchase of tangible and intangible assets | 10, 11 | (8,902) | - | |
| Purchase of investments | 12 | (970,410) (372,266) |
||
| Proceeds received from sale of investments | 12 | 957,601 | 518,528 | |
| Net cash flows from investing activities | 46,480 | 216,299 | ||
| Net (decrease) in cash and cash equivalents | (293,815) (47,241) |
|||
| Cash and cash equivalents at the beginning of the year | 957,784 | 1,005,025 | ||
| Total cash and cash equivalents at the end of the year | 663,969 | 957,784 |
There were no cash equivalents at 31 December 2023 (2022: none)
The accounting policies and notes on pages 16 to 27 form part of these financial statements.
15
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023
1 Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Company and charitable legal status
The Halifax Foundation for Northern Ireland, a public benefit entity, is incorporated in Northern Ireland as a company limited by guarantee in and not having a share capital. There are currently 12 Trustees who are also the members of the company. Each member has undertaken to contribute to the assets in the event of winding up a sum not exceeding £10. The charity is a registered charity. The registered office is given on page 1.
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008, (As amended by the charities Act (Northern Ireland) 2022) and the Companies Act 2006.
The Trustees have taken advantage of the small companies’ exemption, in accordance with section 414B of the Companies Act 2006, from including a separate Strategic Report in these financial statements.
The Halifax Foundation for Northern Ireland meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value with investments at fair market value unless otherwise stated in the relevant accounting policy notes.
Preparation of financial statements - going concern basis
The Trustees are able to take a long-term view of our investments and the covenant with the Lloyds Banking Group provides a significant degree of protection. The funding for 2024 has been received in full (£2,035,749) and for future years the agreement, which requires nine years notice to be given, provides for a minimum payment of £1,070,000 to be paid each year and that the actual sum paid is based on the profits of the three prior years. The Trustees are therefore confident that they are able to fully fund their operating costs, meet all existing grant commitments and continue grant funding activities for the remainder of the year and throughout 2025 and therefore that the Foundation will be a going concern for at least 12 months from the date of approval of these financial statements.
The Trustees, therefore, consider that the going concern assumption is an appropriate basis on which to prepare these financial statements.
Income
Covenanted donation income
The Foundation derives its income from Lloyds Banking Group plc. Revenue received from Lloyds Banking Group plc is recognised on an accruals basis. The income is recognised when the Foundation has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Interest income and dividends
Interest income and dividends are included in the financial statements in the period in which it is receivable by the Foundation.
16
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
1 Accounting policies (continued)
Donated services
Donated services and facilities are valued and included as income and expenditure at the price the Foundation estimates it would pay in the open market for an equivalent service or facility.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably, a liability is recognised.
Charitable Activities - Grants payable
Grants payable are included in the statement of financial activities when approved and when the intended recipient has either received the funds or been informed of the decision to make the grant and has satisfied all performance conditions. Grants approved but not paid at the end of the financial year are accrued. Grants where the beneficiary has not been informed or has to fulfil performance conditions before the grant is released are not accrued for but are disclosed as financial commitments in the notes to the accounts.
Allocation of support costs
Support costs are those functions that assist the work of the Foundation but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the Foundation’s activities. These costs have been allocated to expenditure on charitable activities. The basis on which support costs have been allocated is the amount of grants payable in each category(‘education and training’ and ‘social and community welfare’).
Value added tax
The Foundation is not registered for VAT and accordingly all expenditure is recorded inclusive of any VAT incurred.
Pension Costs
The charity operates a defined contribution scheme for its employees. Contributions are charged to the statement of financial activities in the period to which they relate.
Intangible assets
Computer software is stated at cost less accumulated amortisation and accumulated impairment losses. Software is amortised over its estimated useful life, of three years, on a straight-line basis.
The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.
Tangible assets
Assets with a cost below £100 are not capitalised.
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use.
Depreciation and residual values
Depreciation is calculated using the straight-line method, to allocate the cost to their residual values over their estimated useful lives as follows:
Office equipment 33% Computer equipment 33%
17
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
1 Accounting policies (continued)
Tangible assets (continued)
The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.
Investments
Investments are stated at Bid Price value at the balance sheet date. Any realised and unrealised gains and losses on revaluation are shown separately in the statement of financial activities.
Operating leased assets
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the statement of financial activities on a straight-line basis over the period of the lease.
Cash at bank and in hand
Cash and cash equivalents include cash and short-term highly liquid investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Financial instruments
The foundation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value, unless the arrangement constitutes a financing transaction. Financing transactions are initially measured at the present value of the future receipts discounted at a market rate of interest, and are subsequently carried at amortised cost, using the effective interest rate method.
Fund accounting
Unrestricted funds are amounts which are expendable at the discretion of the trustees in furtherance of the aims of the Foundation.
2 Critical accounting judgements and estimation uncertainty
In the application of the Foundation’s accounting policies, which are described in note 1, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.
18
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
3Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
The average monthly number of Employees was:
| The average monthly number of Employees was: | ||
|---|---|---|
| 2023 | 2022 | |
| Number | Number | |
| Average monthly number of persons employed during the year, excluding | ||
| trustees, by activity: | ||
| Administration | 7 | 7 |
| The average monthly number of Trustees was: | ||
| 2023 | 2022 | |
| Number | Number | |
| The number of trustees at the year-end | 12 | 11 |
| Their aggregated remuneration comprised: | ||
| 2023 | 2022 | |
| £ | £ | |
| This is stated after charging | ||
| Wages and salaries | 190,297 | 189,528 |
| Social security costs | 11,791 | 13,301 |
| Other pension costs | 27,493 | 17,239 |
| Staff Costs | 229,581 | 220,068 |
None of the trustees received remuneration during the year (2022: Nil).
Trustees’ expenses relate to the payment or reimbursement of expenses in respect of recruitment, training, travel, accommodation, and other incidental costs. £3,383 was paid by the Foundation on behalf of 11 trustees including recruitment, training, travel, accommodation and other incidental costs (2022: 11 Trustees : £1,552). No Trustees received out of pocket expenses (2021: nil)
Indemnity insurance costing £1,712 (2022: £1,504) has been taken out on behalf of the Trustees.
Key management compensation
Key management included the trustees and members of senior management. The compensation paid or payable to key management for employee services is shown below:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Key management compensation | 109,211 | 105,893 |
The key management personnel of the charity comprise of the full time Chief Executive and the part time Grants Manager.
1 employee received employee remuneration of more than £60,000, (excluding employer pension costs) during the year (2022: 1). This employee’s emoluments fell between the band £60,000 - £70,000.
19
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
4 Charitable activities
| Education | Social and | Education | Social and | |||||
|---|---|---|---|---|---|---|---|---|
| Matched | and | Community | Matched | and | Community | |||
| Giving | Training | Welfare | 2023 | Giving | Training | Welfare | 2022 |
|
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Grants payable (note 6) | 66,132 | 406,088 | 1,057,738 | 1,529,958 | 54,081 | 372,900 | 946,932 | 1,373,913 |
| Support costs (note 7) | 13,813 | 84,817 | 220,923 | 319,553 | 11,740 | 80,949 | 205,561 | 298,250 |
| Support costs - Governance | 216 | 1,327 | 3,457 | 5,000 | 197 | 1,357 | 3,446 | 5,000 |
| costs (note 7) | ||||||||
| 80,161 | 492,232 | 1,282,118 | 1,854,511 | 66,018 | 455,206 | 1,155,939 | 1,677,163 |
5.1 Donations
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Donations from Lloyds Banking Group | |||
| - | Covenant income | 1,321,019 | 1,092,105 |
| - | Operating costs contribution | 150,000 | 150,000 |
| - | Additional income (cost of living grants) | - | 107,000 |
| Donated services | |||
| - | External audit fees paid by Lloyds Banking Group | 5,000 | 5,000 |
| - | Other services | 19,666 | 21,101 |
| 1,495,685 | 1,375,206 |
The auditors were remunerated with an allocation from the Lloyds Banking Group audit fee. As a result, the external audit fee has been treated as a benefit in kind from the Lloyds Banking Group. The amount recognised is the fair value that the Foundation believes they would pay for external audit services if the Lloyds Banking Group did not pay for the amounts on their behalf.
Other donated services income includes the cost of secondee administration officer whose role is solely dedicated to Foundation and is reimbursed by Lloyds Banking Group.
5.2 Investment income
| 5.2 Investment income | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Dividends received | 68,191 | 70,037 |
| Total investment income | 68,191 | 70,037 |
20
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
6 Grants payable
| 6 Grants payable | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Region | Number | £ | Number | £ | ||
| Belfast | 129 | 398,720 | 206 | 498,408 | ||
| County Derry/Londonderry | 66 | 288,753 | 72 | 188,235 | ||
| County Antrim | 61 | 202,998 | 53 | 124,092 | ||
| County Armagh | 27 | 106,092 | 39 | 94,313 | ||
| County Down | 71 | 225,203 | 97 | 202,882 | ||
| County Fermanagh | 18 | 67,088 | 10 | 25,019 | ||
| County Tyrone | 37 | 150,973 | 50 | 155,948 | ||
| 409 | 1,439,827 | 527 | 1,288,897 | |||
| Headquartered outside Northern Ireland | 77 | 58,339 | 80 | 51,931 | ||
| Collaboration | 31,792 | 33,085 | ||||
| Total | 486 | 1,529,958 | 607 | 1,373,913 |
All grants are payable directly to organisations. No individual beneficiary is noted.
Collaboration refers to costs relating to our IT equipment recycling and our charity mentoring programme. Please refer to page 2 Chair’s Report for further detail.
21
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
7 Analysis of support costs including governance costs
Governance costs
| Governance costs | ||||||||
|---|---|---|---|---|---|---|---|---|
| Education | Social and | Education | Social and | |||||
| Matched | And | Community | Matched | and | Community | |||
| Giving | Training | Welfare | 2023 | Giving | Training | Welfare | 2022 | |
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Audit fees | 216 | 1,327 | 3,457 | 5,000 | 197 | 1,357 | 3,446 | 5,000 |
| Support costs | ||||||||
| Education | Social and | Education | Social and | |||||
| Matched | and | Community | Matched | and | Community | |||
| Giving | Training | Welfare | 2023 | Giving | Training | Welfare | 2022 | |
| £ | £ | £ | £ | £ | £ | £ | ||
| £ | ||||||||
| Establishment costs | 778 | 4,778 | 12,444 | 18,000 | 709 | 4,885 | 12,406 | 18,000 |
| Salaries and pension | 9,924 | 60,936 | 158,721 | 229,581 | 8,662 | 59,730 | 151,676 | 220,068 |
| contributions | ||||||||
| Trustee related costs | 146 | 898 | 2,339 | 3,383 | 61 | 421 | 1,070 | 1,552 |
| Promotion of the | 428 | 2,626 | 6,841 | 9,895 | 257 | 1,775 | 4,508 | 6,540 |
| Foundation | ||||||||
| Professional fees | 820 | 5,037 | 13,120 | 18,977 | 697 | 4,805 | 12,203 | 17,705 |
| Other administrative | 1,717 | 10,542 | 27,458 | 39,717 | 1,353 | 9,333 | 23,699 | 34,385 |
| expenses | ||||||||
| 13,813 | 84,817 | 220,923 | 319,553 | 11,740 | 80,949 | 205,561 | 298,250 |
Support costs are allocated on a basis consistent with the use of resources.
8 Net (expenditure) for the year
| 8 Net (expenditure) for the year | |
|---|---|
| 2023 £ |
2022 £ |
| Net (expenditure) is stated after charging Depreciation of owned assets 3,110 Rentals under operating leases 18,000 |
1,685 18,000 |
| Total 21,110 |
19,985 |
| Fees payable to the charity’s auditor for the audit of the charity’s annual financial statements Current year fees 5,000 |
5,000 |
| Total Auditors Fees 5,000 |
5,000 |
22
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
9 Taxation
The Foundation is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried on in furtherance of the charity’s primary objectives, if these profits and surpluses are applied solely for charitable purposes.
The charity is not registered for VAT and accordingly, all its expenditure is recorded inclusive of any VAT incurred.
10 Intangible assets
| Computer software £ |
|
|---|---|
| Cost As at 01 January 2023 Additions |
34,989 7,080 |
| As at 31December 2023 | 42,069 |
| Amortisation and impairments As at 01 January 2023 Charge for the year |
34,989 1,180 |
| As at 31 December 2023 | 36,169 |
| Net book value as at 01 January 2023 | - |
| Net book value as at 31 December 2023 | 5,900 |
11 Tangible assets
| 11 Tangible assets | |
|---|---|
| Office Equipment Computer equipment £ £ |
Total £ |
| Cost As at 01 January 2023 Additions 25,791 - 35,670 1,822 |
61,461 1,822 |
| As at 31 December 2023 25,791 37,492 |
63,283 |
| Depreciation and impairments As at 01 January 2023 25,555 33,389 Charge for the year 25 1,904 |
58,944 1,929 |
| As at 31 December 2023 25,580 35,293 |
60,873 |
| Net book value as at 01 January 2023 236 2,281 |
2,517 |
| Net book value as at 31 December 2023 211 2,199 |
2,410 |
23
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
12 Investments
| 12 Investments | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Market Value as at 01 January 2023 | 1,654,857 | 2,056,650 |
| Additions in the year | 970,410 | 372,266 |
| Disposals in the year | (957,600) | (518,528) |
| Net revaluation gain / (loss) | 27,618 | (255,531) |
| Market Value as at 31 December 2023 | 1,695,285 | 1,654,857 |
Long term investments which include ordinary shares in Lloyds Banking Group of £113,295 (2022: £350,622) are held within the United Kingdom and exist primarily to provide an investment return for the charity.
Investment Breakdown by type of investment
Listed Investments
The historic cost of listed fixed asset investments at 31[st] December 2023 £1,943,816 (2022: £2,026,687). The investments are managed by an external fund manager. The funds can be analysed as follows:
| 2023 2022 £ £ |
|
|---|---|
| Fixed interest 925,636 431,304 Overseas Fixed Interest 127,599 436,066 UK Equities 134,209 378,744 European Equities - 15,001 North American Equities - 49,413 Far East & Australasian Equities 6,662 6,726 Overseas Equities 74,034 - Emerging Economies 9,555 9,195 Money Market Instruments 100,000 - UK Property 77,284 58,256 International Property 39,368 11,425 Alternative Assets 200,938 258,727 |
|
| Market Value as at31 December 2023 1,695,285 1,654,857 |
|
| 13 Debtors 2023 2022 £ £ |
|
| Amounts falling due within one year Prepayments 860 867 |
24
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
14 Creditors: amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 5,775 | 3,996 |
| Grant creditors | 237,191 | 244,982 |
| Accruals | 11,939 | 8,936 |
| 254,905 | 257,914 |
Our Large Grant Programme came to an end in 2023. Therefore, there are no specific commitments and no conditions to be recognised in these financial statements.
15 Analysis of charitable funds
Analysis of movement in unrestricted funds 2023
| Fund name | Fund | |||||
|---|---|---|---|---|---|---|
| balances | Fund | |||||
| brought | balances | |||||
| forward | Gains and | Transfers | carried | |||
| 2022 | Income | Expenditure | losses | forward 2023 | ||
| £ | £ | £ | £ | £ | £ | |
| General funds | 2,358,111 | 1,592,765 | (1,864,976) | 27.619 | - | 2,113,519 |
| Unrestricted funds | 2,358,111 | 1,592,765 | (1,864,976) | 27.619 | - | 2,113,519 |
Previous year comparative analysis of movement in unrestricted funds 2022
| Fund name | Fund | |||||
|---|---|---|---|---|---|---|
| balances | Fund | |||||
| brought | balances | |||||
| forward | Gains and | Transfers | carried | |||
| 2021 | Income | Expenditure | losses | forward 2022 | ||
| £ | £ | £ | £ | £ | £ | |
| General funds | 2,833,686 | 1,468,286 | (1,688,329) | (255,531) | - | 2,358,111 |
| Unrestricted funds | 2,833,686 | 1,468,286 | (1,688,329) | (255,531) | - | 2,358,111 |
16 Financial commitments
The total future minimum lease payments under non-cancellable operating leases:
In one year or less
| Land and | buildings |
|---|---|
| 2023 | 2022 |
| £ | £ |
| 18,000 | 18,000 |
| 18,000 | 18,000 |
25
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
17 Reconciliation of net movement in funds to net cash flow from operating activities
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Net (expenditure) | (244,592) | (475,574) |
| (Losses) / Gain on investments | (27,619) | 255,531 |
| Depreciation | 3,109 | 1,685 |
| Dividend income | (68 191) | (70,037) |
| Decrease in debtors | 7 | 236 |
| (Decrease) / Increase in creditors | (3,009) | 24,619 |
| Net cash generated (used in) operating activities | (340,295) | (263,540) |
18 Related party transactions and ultimate controlling party
The Board of Trustees are considered to be the Charity’s ultimate controlling party.
During the year a number of grants and payments were made where a trustee or staff member of the Foundation is affiliated to a connected organisation:
Chair, Gillian Boyd is a committee member of Brownlee Primary School PTA. They received £500 under the Matched Giving Scheme and received a Community Grant of £3,400 (2022: Nil).
Trustee, Aidan Bennett is a Trustee of Belfast Charitable Society. Belfast Charitable Society own Clifton House, where The Halifax Foundation for Northern Ireland’s office is situated. They were paid £20,168.65 during 2023 (2022: £19,704).
Trustee, Jenny Ebbage was a consultant for Edwards & Co. Solicitors’ firm until October 2023. Edwards & Co. Solicitors act as solicitors for The Halifax Foundation for Northern Ireland. They were paid £2,013 during 2023 (2022: £1,700).
Trustee, Angela Hodkinson is a Trustee of WISPA. They received a Community Grant of £3,840 (2022: Nil).
Trustee, Niall Parfitt is a Trustee of Children’s Heartbeat Trust. They received £2,700 under the Matched Giving Scheme (2022: Nill).
Trustee Melvin Slaine is a former mentor for Links Counselling. Link Counselling received a Community Grant of £7,000 (2022: £500).
Grants Manager, Joanne Byrne is Trustee of Friends of Edenderry. They received £640 under the Matched Giving Scheme (2022: £4,556).
Partner of Trustee, Jenny Ebbage is a Trustee of PIPs Suicide Prevention Ireland. They received £500 under the Matched Giving Scheme (2022: Nil).
Connected company
Lloyds Banking Group plc
The Foundation derives its income primarily from Lloyds Banking Group plc. The Foundation received £1,495,685 (2022: £1,375,206) under deed of covenant of which £24,666 relates to Gifts in Kind (2022: £26,101). Investments include ordinary shares in Lloyds Banking Group of £113,295 (2022: £350,622).
At 31 December 2023, the balance owed by Lloyds banking Group plc is nil (2022: nil)
26
The Halifax Foundation for Northern Ireland
Notes to the financial statements for the year ended 31 December 2023 (continued)
18 Related party transactions and ultimate controlling party (continued)
Connected Foundations
The following Foundations have common and related objectives: -
Lloyds Bank Foundation for England & Wales Society Building 8 All Saints Street LONDON N1 9RL There were no transactions with LBFEW in 2023 or 2022
Lloyds Bank Foundation for the Channel Islands PO Box 70 25 New Street St Helier Jersey JE4 8RG There were no transactions with LBFCI in 2023 or 2022
Bank of Scotland Foundation The Mound Edinburgh EH1 1YZ There were no transactions with BOSF in 2023 or 2022
27