THE HAYMANS TRUST FUND
Annual Report and Aeeounts
31st Docwnlw 2023
Roglst•r•d Ch•rlty Number 1000369
Peter B. Shone
Homefield
Chidden Holt
Hambledon
Waterloovilbe
Hampshire
P07 4TG

HE HAYMANS TRUST FUND
lan
Adrnln
ra
Info
Full name of the Charlty
The Haymans Trust Fund
Charity iegislralmin nurnber
1000369
Goveming Instrurmnt
Ille￿nt dated 3rd November 1989
TrLtstse8
FINa Joscdyne Stubbs
Peter Benth811 Shone
Power of 8ppoinlrr*nt of new tru8tees
Vested TnJ8te8s lor the Ilma belng
Power8 of InVè8tr￿nt
Wtholly unreslrthd. set tyjt In Clause 5 of tha
sett￿ment
Correspondent
Peter B. Shone
Prindpal address ofthè Chanty
Homefiald
Chidden Holt
H8mbl¢don
Walertoovil
Hampshlrn
P07 4TG
Soll¢rtorlAdmlnl8trator
Peter B. Sl)on8
Homefleld
Ch￿dert Holl
Hambledon
WaterlcDvilLg
Hampshire
P07 4TG
Telephone
02392 63241
B8nk8rB
Cater Al¢n Private Bank
g Nelson Street
Btadford
BD1 SAN
Investsnent Managols
Brewtn thjlphln Securfties Llmiled
12 Smlthfidd Street
LorKlon
EC1A9BD
Independenl Examinern
Martin and Company
Halls Barn
Brows Farm Business Park
Farnham Roaj
LISS
GU33 6JG
Page 1

Re
of the Trustees
The Trustees of The Haym8ns TN5t Fund prBs8nt their report togethor with the finarKial statements of
thè Charity for the year ended 31st December 2023. The financial statements have been prepared in
accordance with Ihe accounting policies set out in Note 1 to the A¢Gounts and compty ￿trt the Charbty's
Trust Deed. the Charibes Act 2011 and the Ststement of Recommènded Practice .' Accounting and
Reporting by Ch8ri1i88 (FRS102) effective from 1st janu￿ 2019.
Hlsto
The ChaTrty wa$ established by a Sdtiement TrAde by Mr. H.C. lthilbre•J on 3rd November 1989.
ect of the Char
The Charity 1$ a grant-making tnJst The object of thè Charty L8 lor a capltsl fijnd and the income
therefrom to be applied lor Juch CharIta￿e purposes as the TnJste85 detemilne In their discrellon. The
Trustees have no pr8s0nt knt&nbon to expend or appty any of the ¢awtsl.
cture
ovemanco and Mana
oment
The SolicltorlAdmlnistrator conducts the daY4￿08Y adnuni5tration ofthe Charfty. Th18 Includes deallng
wlth all correspondence and teleph¢)ne enquiries.. book-keeping- issuing giant cheques., and the
pr&parabon of the Charlty'5 proper fom Tnjsl Accounts and of thi¥ Report & Accounts. The Trustees
meet or confw regularly.
Tho present Trustees do not envlsage any need for new or additDnal trusieos. In the event that they
do. they wlll d￿ld8 on a proGedure for 8electing them at Ihe Ume.
The Trustees conslder tt)e board of Trustee¥ to be the key m8nag6ment p6rsoTrnel of thg charity In
charge of directing and conlrolllng the chsrlty and runnlng and operating the charlty on a day lo day
basss. All Trustees gNe of their time freèty and no tnJsle8 remuneralton was pald in the year. Tru8lee8
are required to d18close all relev8nt Intergsts ond In accoftlance wth the charity's policy wlthdraw from
declslons where e confllct of Interest arises.
The Charlty invests In quoted securtlies for Ihp long18mi Imth a view to malntaining the eapltal value of
the investrnents and seGuring a rLsing Inco￿. The holding ofsecurib'es and Investlng activities pursuant
lo the investment pollcy involv& certain wih&rent risks. Events may ￿cur that result in either a Teduotion
in the valuo of th¢ cha￿.5 caprtal Qr o reduction in dNidend and interest inGOff*.
The main rfsk from holding Inv8strnents is mat*et prkè risK wh￿h arfses mainty from uncertainty about
Jture price8 ofseeuritiej. It represents the PO￿ntIal loss the Charity may sufvr through hokjing marK?t
positlons In the lace of price movements. Market price risk Is monitored on a daily basis by Ihe
Investment Manager and with the AdminkstratOF.
The other risks, liquidity risk and cash flow risk. are min1rr￿S8d ￿caUse the Charity'$ Inve$lments ar8
all readity re81isable and can be sold to meet any fvnding commitments.
•n
Ob
Th9 Trustees, policy is to pay the trust In¢omg onty to UK registsred Gharities. They do not make grants
to individuals. They receive a number of appeals e￿h year. but Ihgy tend to make grants to chanties
Sndependentty identified by them.
Grant A Ilc
onP
The Ch8rity Is listed in son* of the directories of grnnt-makers. In view of their cu￿ent grant-making
pollcy, il is not reGommended that grant-8eekers make unsolicited applications to the Charity.
Page 2

Grant Prlori
The Trustees make grants onty to UK reg￿ter8d charflles.
Review of A¢tlYh108
Two Incomè grants for a total of£20.000 were made In the year.
Publlc 88nofit
The Truslees confirrn that Ihey regard for fhe Charity Commi5slon's guidarKe on public benefit.
They lake the view that the requlrement 10 show public benefit is sab'sfied for a granl-making trust of
thls type by Ihelr m8kln9 grants onty to UK-regiStered charities.
erfomiance M
The Trustees expect to receive a repcxt from the ￿1p￿t charities during th8 year in which Ihg gr8nl
Is made. parbculady rf they wish to be ¢onsidered lor a repe8t granL
Flnanclal Revl8w
In
The Char(ty Is dependent upon Income from invgstments. ThLg amounted to £25,35512022 .' £23,718).
The value of the granls made was £20.CQO (2¢)22 '. £5.000). At 318t Decerrtler 2023. undlstributed
Income am¢)unted lo £55.755 {2022 ' £51.300).
Inv
tm8
The Charlty's Investment Portf￿1¢ in¢reasad In value from £553,154 to £579.787.
AJI iTrveslments held by ￿ Charity been acqulred in accord8nee with the powers of th8 Trustee6
and Ihe Charity's assets are avallable and adequate to fvhll rts obligatlons. The Charity dces not lay
down a partkular target total relum for the Investment portfolio.
11 Is not the Trustees, policy to malntsln slgnificant reserves of Income. Grants are made to ullllse the
income Irorn investrnents recglvtrj In the year. There has been no materlal change In the TfUStee8'
polky since last year.
The Trustees have no present inlentlon lo expend or appty any capital. At 31st December 2023, the
capital element of the fund arnounled lo £590,01612022 .' £577.4661.
Future Plan•
Thg Trustee8 ￿rrentlY expect to continue thelr estsblished grant-making poficy.
This Report was approved by the Trust￿5 on
16
2024
Page 3

EXAMINER'S UNQUAUFIED REPORT
Indwnd•nt Examln*# Report to tho
Trusto9s ol Tho Haymans Tftmt Fund
I report on the A¢wJnts ofthe cl￿ Ihe yew ended 31st Der*mb•r2023, £re set ¢xrt In pagè$ 5 to 9.
Respon•lbilltlfrs #nd Basls of R•ptht
A¥ the tnjstsos ol lh• Chanty you are respo￿[t48 for Ih8 preparation of Ihe KcO￿ts In a¢£ordarKe th8
requiremènts ofthe Ch8thles Ad 2011 (Ihts 2011 Acr).
I report ln reSFeci of my 8xarnlnatkJn of your charrty's acco￿15 a$ carrfed ¢xrt under section 145 of th8 Charltios
Act 2011 Cthe 2011 Arf). In canw.ng oul my ex8mrnation I follNed tho Dlre(thns g￿en by the Charity
Commlsskn under $$¢tion 145(51 (bl of tha 2011 Aca.
Ind•p•nd•nt •x•mln•rf• •tat•n>w
Slnce the Charty's grosB ￿ccffie •xe8•ded £25.f)J) your gxamit)er must b¢* 8 m•mberol a bo(ly li8ted In sectlon
14S Df the 2011 Ad. I confimi th8t l am quallfied to undertake the ¢xamlnation because l a member ol the Institute
ofCharter•d Aceountants In EnglaTrJ & Wes. whth18 one oflhe Il$knJ bode8.
I have eompleted my examlnation. l a)nfinn Ihat matt•r8 hov• c¢xn• to my gttendon In connocllon wlth th
examlnavon giving me ￿U0e to b•llgve It￿1..
acecMJn1ing recordA wero nol kept In r•sp0Ct of th• c￿rtty w rtyulr•d by a•elk)n 130 ofthe ￿, or
Ihe 8ccounts do not accryd whh tlw•
the a¢counts donotCom￿Wth a¢xoim reqLlrwn8nts concemlng th¥ lomi and ¢onlent o1ocMunt8
$•1 oul In the Chyrflies (Acc(wJnts 8rKI Rep)rt8) ReguLqb'on$ 2TrJ8 other Ihan any wuirwn•nt that th•
a¢coun¢8 gfve a •nd f* vEeYl [• ￿t a mailer ¢>)n8lder8d as part of an indewndent
examinetion,. or
th• aecounts hav• Mt t•on •c¢Ndw w6th thtr methods and prkn¢lpl•8 oftrbe Stsiomgnt of
Recomm￿ded Pr8dk• lor *C￿nI1￿a and by chJriti•8.
I hDve no concerni and h•v¢ acros8 no Olhgr mallers In ¢OTThLYon wllh tho ex8mlnaiion Ic whlth gffeniion
•htyJld b• drawn In th18 r•port kn order to en1￿• 8 und￿tan(lorrfJ ofth• X£¢Amis ¢0 b? rethd.
Name..
DJI8: 2d
21r24
Relevant PTolessk¢181 qu•llkatton or bc4y:
Addr*$8 '.
Mttrtin afKI Cory•ny
Old Hall6 8am
Br(￿3 Fa￿ Bu￿￿8$9 Park
Famhom Ro
LISS
GU33 &JG
Page 4

THE HAYMANS TRUST FU
Statement of Flnancial Actlvlty for the ywr ended 31st DeceM￿r 2023
Unro8ttlGted
Fund 2023
Unrestricted
Fund 2022
Income
Inve8lmenl Income
£23.647.38
£23,442.43
Gros8 Inlere$t
1,707.70
275.19
Tot•1 Incom•
£25.355.06
£23,717.62
Expendlturo
Raising Funds
Investment management costs
£5,574.00
£5.656.11
Charitable acUvib'8s
20,900.00
5,000.00
Total Expendlturn
£26,474.00
£10.656.11
Net InCom￿lexp•ndItUle} befor•
galn• and108•e8 on Inv•stmonts
£ 13.061.51
Not g•Sns Ilo¥•••) on Inv••tm•nt •88•ts
18,123.52
(49.590.291
N•t Movorn•nt In Fund•
£ 17,004.58
£ {38.528.781
Balance brought fon¥ard at
1st January 2022
628,787.
865,295.84
Fund8 ¢arrl•d forward at
318t Dè¢gmber 2023
£645,771.84
£628,767.06
Page 5

E HAYMAN
TRUST FUND
alan
h t•t31$tD•
omber 2023
Fixed A8$0ts
UK Quoted Investments
at Cu￿nt market value
2023
2022
£Slg,787.06
£553,153.83
Cyrr•nt Assets
Debtor
0.00
55,244.49
11,640.09
0.00
Ca8h at Bank
50,287.42
25,325.81
Cash with Broker
Ll•bllltlo•
66.884.58
75.613.23
Credltor# . •mounts hlllng duo
wlthln onè y•ar
900.fy)
0.00
Not CuTrent Asoet8
65,984.58
75,613.23
Total As$ets1888 Current Llabllltle•
£645.771.84
£628,767.0
UNRESTRICTED FUND
£64S,771.64
£628,767.06
TOTAL CHARITY FUNDS
£645,n1.64
£828,767.06
The nole8 on pages 6 to 9 form part of tlwe AC￿￿nts.
The flnanci81 Statements wer8 approvod by the Trustee8 on
(6*K fvl
2024
.. Trustee
Tru8lee
Paje 6

THE HAYMANS TRUST FUND
Notes to the Accounts for tho ygar ended 31st December 2023
Polkle8
1. Accountln
The financial 5talemenls have been prepared in 8c¢ordance with A￿luntIng and Reporting by Char(iies . Statement
of Recommended Pracb"ce aP￿1¢able to charities preparing thelr aecounts In accordance with the Financial Reporting
Stsndard appluble in the UK and Rèpublic of Ireland IFRS 1021 {effective 1st January 2019}- {Charibes SORP
IFRS 102)), the Flnancial Reportlng Stsndard applicabkn in the UK and Republic of Ireland {FRS 1021 and the
Charlties 2011.
The Accounts have been prepar&J under the hlslorical c051 conventton wlh items recryni38d at cost Of Irart$aclton
Value unless otherwise staled in the felevanl notsls) to these Acwunts. The Haymans Trust Funtl meets the
deflniliort ol a public benefit entity under FRS 102.
Golng Con¢em
The Trustee8 con¥lder that there 8fe no rnaterfal unwtalnties abtyJt the Charfvs abillty to contlnue as a going concern
nor any slgnlflcanl a￿85 of uncertainty that affect the carrying value of the assets hèld by the Charity.
Incom¢ R•cognltlon
All income Is recognlsed once the Chartty has èntitlement ID the Income. there Ss suffiuenl certalnty of receipt and 80
It Is probable that the Inwme wlll be raceived. ar>J the amount of Income recelvable can be measured rellabty.
Interest on funds held on deposil Is In¢luded upon notltsalion of the inleTrst paKI or payable by the bank.
Dlvidends are re¢ogn5$ed 0￿e the dI￿dend ha8 teèn declared and notrfic8kn has been recelved of th8 dividend due.
Expendftur? Recognltlon
Liabilill8s ole recognl$gd as 6xperKlllur8 88 goon 88 there18 0 legal or constru¢Uv• i)t4igation Gommitting the Charity
lo U)al oxpendilure, tt Is probabl& that $ettk*menl wlll be wuired and the amount of the obligation can bo measured
reliably.
All expendlture15 accounted for on an accwals basis. hjl expenses. Inc1￿j1n9 support Costs and governance costs.
re allocated or apportlon8d to the applicablg gxpendiluro headings in the stslement of financial aGbvities.
Gr8nts payablo 8r8 payments made lo thlrd parugs In Ihe furtherance of thg charitable objects of the cha￿ty. In tho
case of an uncondkional grant offer this 1$ arKru&l once the reclplent has been nollfi&J of the grant avrard.
Grant awards that are subject to the recipient fulfillir@ performance condltions are onty a￿rUed when the redpfent
has been nolitied of the grant and any remaining Unfulfill￿ conditsons attaching to the gTanl are outside the control of
the Charity.
Raising Funds a￿ those costs Incurred in attracting Invgstrnent IrKome and the manag8ment of investments that ra158
funds.
Charttable athltie•
The Tru31ees consider that granl-making is the Charity$ sole charitabl8 activty. Th8 exp8ndlture on charitable
aclvllle3 Includes grnnls made and gI)veman￿ cosls.
Govemancè C08t¥
Governance costs Comprise all costs invotving the puNk &¢ounlability of Ihe char￿ and Its compllan
th regulation and gooJ P￿ti￿.
Pag8 7

Flxed Assot Investmgnt8
Investments are Inltiaity rwognlged at their transaction value and substrquentty measured at their market value a5 at
the balance sheèt dale using the mid-market pri￿. The statement of financlal actiwtses Includes the nel gains and
losses arfsing on revaluatlon and dlsposals throughout thg ￿r. The Chadty does not acquire or use put options,
derivatives or other complex financial instruments.
I gains and losses a￿ taken to the ststement of fina[￿￿￿1 actl￿tIeS as they wise. Rea115ed gains and losses on
InV8Stm8nts are calculated as the differerKe betr￿en S￿e$ prc￿￿S and their opening carying walue or their
purchase value if acquired subsequenl to the first day of the financial year. UnrealtS8d gains and losses are
calculated as the difference betsveen Ihe falr value al the year end and thew carrwrKJ value. Realised and
unrealised investment gains and10sse8 are Gomt¥ned in the slaternent of financial activltkns.
Funds •tructur•
Unrestricted income fund8 comwlse thoEe fvn¢J8 ￿1¢h the Trustees are free to Uso for any purpos• In
furtheAnce ol the ¢harltable oblect5veB.
Irrgcovfrrnbl• VAT
Irrecoverable VAT is charggd agalnst the category of resources expended for whrh it was InCur￿J.
Taxatlon
The Trust Is a registe￿d charlty and aCC￿dIr￿Jfyl5 exempt lThn taxation on ils Incom8 and galns wheré they are
applSed for Charitable purposes.
nd
tlv
2023
2022
The followlng grants were made In the year, all lo institutions '.
Whlte Clty Theatre Project
OperaGla$s Works
Teen Yoga Foundation
£5,000.00
£10.000.00
10,000.CIJ
£20.000.00
900.00
£5,000.00
0.00
Governance cogt$
Charltable aGUMties exFendf(ure
£20,900.C(I
£5,000 00
3. Gov•rTrance Co8ts
The charity h83 no employees.
The management and administrat￿)n of the Charity is carried out by Peter B. Shone. a Sollcilor, In conlunctlon with
thg Charsvs investment msnagors. The costs shown in the Accounts are tn respect of Independent Examinerfs Fees.
The Chartvs Investment rnanagernent charges of £5,574.00 including VAT {2022 . £5,656.11) are charged to capital.
2023
£900.¢)0
2022
£0.00
Independent Examinerf$ Fee8
No remunèration was papj to a Trustee and no expenses V*we reimbursed to the Trustees.
No payments were made lo any related partlgs.
Page 8

4. FIX
tments
NRESTRICTED FUND
Li8ted
investments
L¢sted
investments
MARKEf VALUE
Market Value at 1st January 2023
Addillons lo investments al cost
Dlsposals al carying value
Nel Gainl{10$8) on diswsal
Nel G8lnlllo881 on revaluation
At 31st D&cember 2023
2023
2022
£553,153.83
27.439.87
118.930.16)
598.11
17.525.41
£828,477.84
79,490.94
1105.224 66}
110,201.511
139.388.781
£553,153.83
£579,787.06
AJI investments are carried al th8ir markot value. Investment kn equittes and foxed interest se¢udtSe8 are sll traded In
quoted publlc markets. primarity tho London Stc¢k Exchange.
tln
rotha
7,000 HG Capital Trust PLC Ord 2.Sp
18,000 Invesco Bond Income Plus Umlted NPV
11,700 Legal & General Group PLC Ord 2.Sp
14.000 Mercantile Inv8Stment Trust PLC Ord 2.5p
1,140 Shell PLC Ord É0.07
700 SSGA SPDR S&P US Div Ax[Sl￿rats
885 Whltbread PLC Ord 761221153P
6. Not Cumint A•8•ts
en
£30,415.00
30,780.t))
29,378.70
31.010.00
29,315.10
38,024.00
32.355.60
5.25%
5.31%
5.07%
5.350
s.05%
6.56%
5.58%
At 1st January 2023
Incre¥sel{Decr6ose)
£24,312.78
51.300.45
£76.613.23
(9,628.65)
£36,818.00
38.796.23
Cawtal
I￿orne
114,083.71)
4.455.
Al 3181 December 2023
£10,229.07
55.765.51
£65,984.68
£75,613.23
6. Lla
The only Ilablllty for the year Is an accountancy fee as dlKlosed in Notè 3 In respect of an Independent Examination.
7. Unrestrlcted Fund
MOVEMENT IN FUNDS
CAPITAL
INCOME
TOTAL 2023 TOTAL 2022
628,767.06
11,118.941
18,123 52
At 1st January 2023
Net lexpendilureifincome
Gainsl{Lossesl on investment assets
At 31st December 2023
£577.466.61
{5.574.00)
18,123.52
51.300.45
4.455.06
e85,295.84
13,061.51
149,590.29)
£590,016.13
55.755.51
645.771.64
£628.767.06
The unreslricled funds are available to be spent for any of the purposes of the charity.
Pag8 9