Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST STATEMENT OF ACCOUNTS YEAR ENDED S APRIL 2024
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST CONTENTS Page Trust particulars Trustees, report Independent examiners, report Statement of financial activities Balance sheet Notes relating to the accounts 7-11
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST TRUST PARTICULARS Year ended 5 April 2024 Trustees NJ Forman Hardy JM Forman Hardy Dr PG Sibly V S Savile Independent Examiner Alison Fovargue Cooper Parry Group Limited Sky View Argosy Road East Midlands Airport Castle Donington Derby DE74 2SA Bankers Nalional Westminster Bank plc 16 South Parade Nottingham NG12JX Registered charity number 1000687 Principal address Toll Bar House Landmere Lane Edwallon Nottingham NG124DG
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST TRUSTEES. REPORT Year ended 5 April 2024 The Report of the Trustees of the Fonman Hardy Charitable Trust is presented for the year ended 5 April 2024. Reference and administrative infomiation The Forman Hardy Charitable Trust, registered charity number 1000687, operates at Toll Bar House, Landmere Lane, Edwalton Nottingham, NG12 4DG. The Trustees are Mr Nicholas J Forman Hardy, Mrs Jane M Fomian Hardy, Dr Paul G Sibly and Victoria S Savile. The Trustees meet at least four times each year. Structure governance and management The Forman Hardy Charitable Trust was formed under a Deed of Settlement dated 19 September 1990 and a Deed of Variation dated 27 July 1999. The power of appointing new Trustees is vested in the Founder, who is Mr Nicholas J Forman Hardy. The service of and facilities for Trustees are provided by Forman Hardy Holdings Limited. Objectlves and Actlvltles The Trust exists to benefit a wide range of charitable activities but primarily focusing on the charitable needs of the City of Nottingham and County of Nottinghamshire, and does so by making donations and grants. Achlevements and perfornlance During the year the Trust made donations and grants totaling £94,150 (2023: £122,600). Investments are held which are considered by the Trustees to be appropriate in terms of both income generation and capital growth for the purposes of the Trust. Publlc benefit The Trustees confirm that they have paid due regard to the Charity Commission's guidance on public benefit. Reserves policy It is the policy of the Trust to maintain unrestricted reserves which provide sufficient funds to cover grants and donations, management and adminislration costs on an annual basis. At 5 April 2024, £2,706,902 (2023: £2,684.949) was held in unrestricted funds. This is freely available and it is the Trustees, intention to retain these assets within the Trust lo fund the normal annual expenditure referred to above. Review of the year The Trust continued to have close links with the Nottingham based homeless charity Emmanuel House. The CEO and Chair of Emmanuel House update the Trustees on a regular basis. A further £20k was donated in 2024.
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST TRUSTEES. REPORT CONTINUED Year ended 5 April 2024 Trustees, responsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP 2019 IFRS 102). makejudgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going conrn basis unless it is inappropriate to presume that th8 charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confirm that the attached accounts for the year ended 5 April 2024 comply with current statutory requirements and with the requirements of the Deed of Settlement dated 19 September 1990 and the Deed of Variation dated 27 July 1999. 8W•d br. 248181E143SC432.. NJ Forman Hardy Trustee Date: 27 January 2025
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC INDEPENDENT EXAMINERS. REPORTTO THE TRUSTEES OF THE FORMAN HARDY CHARITABLE TRUST I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2024 which are set out on pages 5 to 11. Respective responsibilities of Trustees and examiners As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act")- I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the act. Independent examlners, statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records,. or 3. the accounts do nol comply with the applicable requirements concerning the form and content of 8ccounts set out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Alison Fovargue FCA Sky View Argosy Road East Midlands Airport Castle Donington Derby DE74 2SA Date: 29 January 2025
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES Year ended 5 April 2024 2024 2023 Notes Income from Investment income 34,395 16,721 Total income 34,395 16,721 Expenditure on Charitable activities Grants Management and administration of the charity (94,150) (122,6001 (5,419) (5,6751 Total expendlture ProfiV(Loss) on sale of investments Net gainsl{Losses) on investments (99,569) (128,275) (4,011) 91,138 21,953 (14,334) (284,1851 (410,073) Net Income for the year Fund balance brought fornard at 6 April 2023 2,684,949 3,095,022 Fund balance carrled foNard at S Aprll 2024 2,706,902 2,684,949 The notes on page 7- 11 form part of these financial statements.
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST BALANCE SHEET At 5 April 2024 Notes 2024 2023 Fixed assets Investments 2.507,469 2,480,343 Current assets Debtors Cash at bank 186 202,635 209,189 202,821 209,189 Creditors: amounts falling due within one year (3,388) (4,583) Net current assets 199,433 204,606 Net assels 2,706,902 2,684,949 Funds Unrestricted funds 2,706,902 2,684,949 Approved by the trustees on NJ Forman Hardy Truslee un•d by" 27 January 2025 61•1E14$Se4................................... JM Forman Hardy Truslee 29 January 2025 Dr PG Sibly Trustee ..(PSSLS 27 January 2025 V S Savile Trustee DoGu*gntd by.. 27 January 2025 The notes on page 7 - 11 form part of these financial statements.
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST NOTES RELATING TO THE FINANCIAL STATEMENTS Year ended 5 April 2024 Accounting policies a) Basis of accounting The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note{s) to these accounts. The trust constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Statement of Recommended Practice". Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019} and the Charities Act2011. The accounts are prepared in £ sterling and rounded to the nearest £1. The trust constitutes a public benefit entity as defined by FRS 102. b) Golng concem At the time of signing these financial statements. the Trustees are confident that the Trust has adequate resources to conlinue in operation and, accordingly. have adopted the going concern basis in preparing the financial statements. c) Grants and donatlons Grants and donations are accounted for on the basis of amounts paid during the accounting period. d) Investment income Investment income is accounted for on the basis of amounts receivable in the accounting period. e) Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or onstructive obligation to make payments lo third parties, it is probable that the settlement will be required and the amounl of the obligation can be measured reliably. Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objectives of the charity. The analysis of these costs is included in note 4.
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST NOTES RELATING TO THE FINANCIAL STATEMENTS Year ended 5 April 2024 Accounting policies (continued) g) Cash flow statement In accordance with FRS 102 as applicable to small charities. a cash flow statement has not been prepared. h) Investments Quoted investments are stated at market value as required by the Statement of Recommended Practi {SORP 2019 FRS 102) Accounting and Reporting by Charities. Changes in market value are taken to the Statement of Financial Activities as they arise. Investment Income 2024 2023 Bank interest Dividends 2,323 32,072 457 12,264 34,395 16,721
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST NOTES RELATING TO THE FINANCIAL STATEMENTS Year ended 5 April 2024 Grants 2024 2023 Caldwell Trust Childine NSPCC Cornwater Evergreen Criminon UK Cruse Bereavement DEC Turkey Earthquake Emmanuel House Framework Headway Nottingham Improving Lives Notts Ltd Literacy Volunteers Meadows Food Bank Mellers School NCFC Community Fund Neville Holt Opera Limitad Nottingham Justice Museum Noltingham Music Service Nottingham Refugee Forum Nottinghamshire County Foundation NTU- Rise Fund P Lord - AlzheimerslParkinson Portland College Reach Learning Disability Renewal Trust Safe Families Scottish Game & Wildlife Conservation Trust St Annes Allotment St Annes Community Orchard St Mary's Childrens Choir St Mary's Car Colston St Mary's Lace Market St Mary's Magdalene Church, Newark STAA Ltd Stone Soup Academy Stonebridge City Farm Strongbones Children's Charitable Trust The Arches (Trent Compassion Trust) The University of Sheffield Welbeck Primary School Amounts under £1,000 Grants in the period 1,000 1,000 1,000 1,000 1,000 1,000 10,000 30,000 4,000 20,000 4,000 2,000 2,000 1,000 1,000 1,000 1,000 1,000 1,000 5,000 2,000 1,000 1,000 2,000 1,000 2,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 5,000 5,000 1,000 5,000 10,000 10,000 5,000 1,000 2,000 3,000 2,000 2,000 1,000 15,000 2,000 14,150 94,150 15,000 12.600 122,600 Total Grants to institutions 94,150 122,600
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST NOTES RELATING TO THE FINANCIAL STATEMENTS Year ended 5 April 2024 Grants (continued) Type of grant 2024 2023 Medical Education Childrenlyouth Elderly Homeless HM Forces Performing arts ChristianlReligious World relief agencies Environmental Other 24,050 9,000 4,750 3,500 24,000 2,250 6,000 5,550 500 1,300 13,250 21,900 11,800 2,000 34,000 2,750 11,000 20,550 11,000 1,000 6,600 Grants in the period 94.150 122,600 Management and admlnlstratlon of the charlty 2024 2023 Independent examination fee Annual management fee Bank charges 1,378 3,960 81 1,453 4,140 82 5,419 5,675 Investments 2024 2023 Market value at 6 April 2023 Sales at valuation Revaluation 2,480,343 (64.0121 91,138 2,913,861 {149,333) (284,185) Market value at 5 April 2024 2.507,469 2,480,343 Cost at 5 April 2024 1,367,333 1,441,899 The market value of investments at 5 April 2024 was represented as follows: Quoted UK Managed Funds 100% 100/0 10
Docusign Envelope ID.. 945F472D-C8524E4F-AADA-19AAB8E658DC THE FORMAN HARDY CHARITABLE TRUST NOTES RELATING TO THE FINANCIAL STATEMENTS Year ended 5 April 2024 Debtors 2024 2023 Accrued interest 186 186 Credltors: amounts falling due within one year 2024 2023 Accruals 3.388 4,583 3,388 4,583 Related Party Transactlons The Forman Hardy Charitable Trust holds 535,070 units (2023: 535,070) of the WS T. Bailey Global Thematic Fund A Accumulation Class. The market value of the units at 5 April 2024 is £1,113,320 (2023.. £1,034,398). The trust also holds 2,050,521 units (2023: 2,144,683) of the WS T. Bailey Multi-Asset Dynamic Fund A Income Class. The market value of the units at 5 April 2024 is £1.394,149 (2023.. £1,445,945). These funds are managed by T. Bailey Asset Management Limited. NJ Forman Hardy is a director of T. Bailey Holdings Limited which owns T. Bailey Asset Management Limited. Controlling Party The trustees consider that there is no controlling paty.