REGISTERED CHARITY NUMBER: 1002470
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
FOR
HASTINGS AREA COMMUNITY TRUST
Gibbons Mannington & Phipps LLP Chartered Accountants 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
HASTINGS AREA COMMUNITY TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
| Page | Page | Page | |
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 15 |
HASTINGS AREA COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
The trustees present their report with the financial statements of the charity for the period 1st April 2025 to 13th May 2026. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects for which the Charity is established are:
a) The promotion of any charitable purposes for the benefit of the community in the area of Hastings Borough and Rother District and in particular the advancement of education, the protection of good health, both mental and physical, and the relief of poverty and sickness.
b) Other exclusively charitable purposes which are in the opinion of the Trustees beneficial to the community in the area of Hastings Borough and Rother District.
Working Name
The Charity's working name as agreed with the Charity Commission is "Relief'.
Public benefit
The Trustees have considered their duty set out in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission, and in their opinion the foregoing report demonstrates that they have complied therewith.
Grantmaking
The Clerk to the Trustees under delegated powers makes grants within limits set down from time to time; but in addition the Trustees meet regularly to review all applications dealt with by the Clerk and consider all other applications received which fall outside those delegated powers. Where the Trust is acting as agent for other Grant Makings Charities, the Clerk also reports direct to their Trustees.
ACHIEVEMENTS AND PERFORMANCE Charitable activities
The Trustees throughout the period continued to provide accommodation within the property to other local organisations and charities and also continued to provide an administration service to various grant making charities. In addition, following the transfer of Permanent Endowments from a number of small Charities previously administered by the Trust, the Trustees continued to make Grants in their own right out of income generated by these Endowment funds, in line with the Trust's objects.
The rental income relating to the provision of accommodation to other organisations showed an increase of approximately 4% over the previous year. Property costs (excluding Depreciation) amounted to £22,257 in the current year, which was £1,483 higher than the previous year.
Out of the Charity's own Endowment Funds and from Restricted monies administered on behalf of other Charities, grants distributed amounted to £55,594. This included 236 Individual Beneficiaries.
A grant was received of £20,000 from the National Lottery Community Fund to run the Pantry for the period of two years.
A grant was received from Chalk Cliff Trust of £5,000 to kickstart a Hygiene project to enable people to access essential items to help build people's health, dignity and self esteem.
Investment performance
The Trust's invested funds provided the required level of income and the Market Value of the Investments at the year end showed a unrealised loss of £27,036.
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HASTINGS AREA COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
FINANCIAL REVIEW
Financial position
Total Income from all sources for the year was £101,800 (£89,496 in 2025) and total expenditure was £107,184 (£99,993 in 2025) which resulted in a deficit of £5,384 (£10,497 in 2025).
There was a loss in the market value of the investments of £27,036 (£46,470 in 2025) so there was an overall deficit for the year of £32,420 (£56,967 in 2025).
The unrestricted funds, after allowing for transfers of administration fees, showed a deficit of £12,474 to give a balance carried forward of £5,639.
At the end of the year Restricted funds had a balance of £16,325.
Investment policy and objectives
The Charity has no restrictions with regard to investments, but has adopted a policy (with regard to the funds held as Permanent and Expendable Endowment) of long term investment, with low to medium risk, provided by way of a diversified well balanced spread of investments, designed to help with both growth and income requirements. To this end all monies have been invested in COIF Charities Funds.
Reserves policy
The Trust holds its unrestricted reserves in order to maintain the freehold property and cover outgoings relating to the property when there are significant voids. All assets were transferred to ECR Foundation on 14 May 2026 when Hastings Area Community Trust merged with that charity..
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Charity is controlled by its Declaration of Trust dated 12th June 1990 and constitutes an unincorporated charity.
On 14 May 2026 the Charity merged with ECR Foundation (Charity number 1212954) to provide incorporated status as approved by the Charity Commission.
Recruitment and appointment of new trustees
The power of appointing new or additional Trustees is vested in the Trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1002470
Principal address
Bolton Tomson House 49 Cambridge Gardens HASTINGS East Sussex TN34 1EN
Trustees
P R Carcas Mrs R C Foster Mrs J V Howe Miss H V Barraclough
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HASTINGS AREA COMMUNITY TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Clare Corke FCCA Gibbons Mannington & Phipps LLP Chartered Accountants 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
Bankers
CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
CESSATION OF TRADING
The charity ceased activities on 13th May 2026.
EVENTS SINCE THE END OF THE PERIOD
Information relating to events since the end of the period is given in the notes to the financial statements.
Approved by order of the board of trustees on 23rd July 2026 and signed on its behalf by:
P R Carcas - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HASTINGS AREA COMMUNITY TRUST
Independent examiner's report to the trustees of Hastings Area Community Trust
I report to the charity trustees on my examination of the accounts of Hastings Area Community Trust (the Trust) for the period 1st April 2025 to 13th May 2026.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's 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 Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (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.
Clare Corke FCCA
Gibbons Mannington & Phipps LLP Chartered Accountants 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
24th July 2026
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HASTINGS AREA COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities Rents receivable 28,395 Administration fees 4,000 Investment income 3 790 Total 33,185 EXPENDITURE ON Charitable activities 4 Charitable activities 48,082 Net gains/(losses) on investments - NET INCOME/(EXPENDITURE) (14,897) Transfers between funds 15 2,423 Net movement in funds (12,474) RECONCILIATION OF FUNDS Total funds brought forward 121,642 TOTAL FUNDS CARRIED FORWARD 109,168 |
Restricted funds £ 35,000 - - - 35,000 32,953 - 2,047 - 2,047 14,278 16,325 |
Period 1/4/25 to 13/5/26 Endowment Total funds funds £ £ - 35,000 - 28,395 - 4,000 33,615 34,405 33,615 101,800 26,149 107,184 (27,036) (27,036) (19,570) (32,420) (2,423) - (21,993) (32,420) 1,111,537 1,247,457 1,089,544 1,215,037 |
Year Ended 31/3/25 Total funds £ 25,000 27,210 4,000 33,286 89,496 99,993 (46,470) (56,967) - (56,967) 1,304,424 1,247,457 |
|---|---|---|---|
The notes form part of these financial statements
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HASTINGS AREA COMMUNITY TRUST
BALANCE SHEET 13TH MAY 2026
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 103,529 Investments 12 - 103,529 CURRENT ASSETS Debtors 13 49 Cash at bank 8,020 8,069 CREDITORS Amounts falling due within one year 14 (2,430) NET CURRENT ASSETS 5,639 TOTAL ASSETS LESS CURRENT LIABILITIES 109,168 NET ASSETS 109,168 FUNDS 15 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Restricted funds £ - - - 2,268 14,057 16,325 - 16,325 16,325 16,325 |
Endowment funds £ - 1,063,487 1,063,487 - 26,057 26,057 - 26,057 1,089,544 1,089,544 |
2026 Total funds £ 103,529 1,063,487 1,167,016 2,317 48,134 50,451 (2,430) 48,021 1,215,037 1,215,037 109,168 16,325 1,089,544 1,215,037 |
2025 Total funds £ 108,000 1,090,524 1,198,524 182 51,933 52,115 (3,182) 48,933 1,247,457 1,247,457 121,642 14,278 1,111,537 1,247,457 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 23rd July 2026 and were signed on its behalf by:
P R Carcas - Trustee
The notes form part of these financial statements
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HASTINGS AREA COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
The main building has been included at market value in March 2003. The building is in constant use in furtherance of the charity's objects and is properly maintained to the standards that ensure that its residual value is not less than its book value. It is depreciated over 50 years on a straight line basis.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Cash at bank
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the opening of the deposit.
Debtors
Debtors are recognised at their recoverable amounts to which the trust is entitled.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement value.
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HASTINGS AREA COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
2. DONATIONS AND LEGACIES
| Period | |||||
|---|---|---|---|---|---|
| 1/4/25 | |||||
| to | Year Ended | ||||
| 13/5/26 | 31/3/25 | ||||
| Unrestricted | Restricted | Endowment | Total | Total | |
| funds | funds | funds | funds | funds | |
| £ | £ | £ | £ | £ | |
| Grants | - | 35,000 | - | 35,000 | 25,000 |
Grants received, included in the above, are as follows:
| Period | ||
|---|---|---|
| 1/4/25 | ||
| to | Year Ended | |
| 13/5/26 | 31/3/25 | |
| £ | £ | |
| Sussex Housing Trust for the Elderly | 10,000 | 10,000 |
| Isabel Blackman Foundation | - | 15,000 |
| National Lottery | 20,000 | - |
| Chalk Cliff Trust | 5,000 | - |
| 35,000 | 25,000 |
3. INVESTMENT INCOME
| Unrestricted funds £ Deposit account interest 790 Dividends received - 790 CHARITABLE ACTIVITIES COSTS Charitable activities |
Restricted Endowment funds funds £ £ - - - 33,615 - 33,615 Grant funding of Direct activities Costs (see (see note note 5) 6) £ £ 50,030 55,594 |
Period 1/4/25 to Year Ended 13/5/26 31/3/25 Total Total funds funds £ £ 790 959 33,615 32,327 34,405 33,286 Support costs (see note 7) Totals £ £ 1,560 107,184 |
|---|---|---|
4. CHARITABLE ACTIVITIES COSTS
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HASTINGS AREA COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
5. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Staff costs Pantry rent Pantry food Electricity Gas Rates Water Insurance Repairs Cleaning services and materials Printing, postage, telephone and stationery General expenses Bank charges Depreciation 6. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the period was as follows: Education Training Consortium Sussex ECR Foundation The total grants paid to individuals during the period was as follows: Individuals |
Period 1/4/25 to Year Ended 13/5/26 31/3/25 £ £ 20,960 19,791 800 - 302 - 15,446 15,162 171 325 86 172 740 482 1,762 1,465 2,879 2,500 1,173 668 1,132 1,090 30 44 78 66 4,471 4,000 50,030 45,765 Period 1/4/25 to Year Ended 13/5/26 31/3/25 £ £ 55,594 53,172 Period 1/4/25 to Year Ended 13/5/26 31/3/25 £ £ 4,000 - 6,224 - 10,224 - Period 1/4/25 to Year Ended 13/5/26 31/3/25 £ £ 45,370 53,172 |
|---|---|
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HASTINGS AREA COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
7. SUPPORT COSTS
| SUPPORT COSTS | ||
|---|---|---|
| Governance | ||
| costs | ||
| £ | ||
| Charitable activities | 1,560 | |
| Support costs, included in the above, are as follows: | ||
| Period | ||
| 1/4/25 | ||
| to | Year Ended | |
| 13/5/26 | 31/3/25 | |
| Charitable | Total | |
| activities | activities | |
| £ | £ | |
| Independent examiners fees | 648 | 516 |
| Accountancy | 912 | 540 |
| 1,560 | 1,056 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 13th May 2026 nor for the year ended 31st March 2025.
Trustees' expenses
There were no trustees' expenses paid for the period ended 13th May 2026 nor for the year ended 31st March 2025.
9. STAFF COSTS
| Wages and salaries | Period 1/4/25 to Year Ended 13/5/26 31/3/25 £ £ 20,960 19,791 20,960 19,791 |
|---|---|
The average monthly number of employees during the period was as follows:
| Period | ||
|---|---|---|
| 1/4/25 | ||
| to | Year Ended | |
| 13/5/26 | 31/3/25 | |
| Staff | 3 | 3 |
No employees received emoluments in excess of £60,000.
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HASTINGS AREA COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Endowment funds funds funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies - 25,000 - Charitable activities Rents receivable 27,210 - - Administration fees 4,000 - - Investment income 959 - 32,327 Total 32,169 25,000 32,327 EXPENDITURE ON Charitable activities Charitable activities 46,821 12,816 40,356 Net gains/(losses) on investments - - (46,470) NET INCOME/(EXPENDITURE) (14,652) 12,184 (54,499) Transfers between funds 25,684 - (25,684) Net movement in funds 11,032 12,184 (80,183) RECONCILIATION OF FUNDS Total funds brought forward 110,610 2,094 1,191,720 TOTAL FUNDS CARRIED FORWARD 121,642 14,278 1,111,537 11. TANGIBLE FIXED ASSETS COST At 1st April 2025 and 13th May 2026 DEPRECIATION At 1st April 2025 Charge for year At 13th May 2026 NET BOOK VALUE At 13th May 2026 At 31st March 2025 |
Total funds £ 25,000 27,210 4,000 33,286 89,496 99,993 (46,470) (56,967) - (56,967) 1,304,424 1,247,457 Freehold property £ 200,000 92,000 4,471 96,471 103,529 108,000 |
|
|---|---|---|
The freehold property, 48-49 Cambridge Gardens, Hastings, was valued in March 2003 by Estate Agents "Rush, Witt & Wilson".
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HASTINGS AREA COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
12. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1st April 2025 Revaluations At 13th May 2026 NET BOOK VALUE At 13th May 2026 At 31st March 2025 The historical cost of the investments is £678,918. There were no investment assets outside the UK. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2026 £ Other debtors 2,317 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2026 £ Other creditors 2,430 15. MOVEMENT IN FUNDS Net Transfers movement between At 1/4/25 in funds funds £ £ £ Unrestricted funds General fund 13,642 (10,426) 2,423 Designated property reserve 108,000 (4,471) - 121,642 (14,897) 2,423 Restricted funds The Isabel Blackman Foundation Fund 12,970 (10,256) - Sussex Housing Trust for the Elderly 310 1,605 - Orbit fund 195 - - Baby Pantry 803 - - Pantry - 9,698 - Hygiene project - 1,000 - 14,278 2,047 - Endowment funds Permanent endowment 556,091 (17,208) - Expendable endowment fund 10,699 7,170 (881) Hart expendable endowment fund 544,747 (9,532) (1,542) 1,111,537 (19,570) (2,423) TOTAL FUNDS 1,247,457 (32,420) - |
Listed investment £ 1,090,524 (27,037) 1,063,487 1,063,487 1,090,524 2025 £ 182 2025 £ 3,182 At 13/5/26 £ 5,639 103,529 109,168 2,714 1,915 195 803 9,698 1,000 16,325 538,883 16,988 533,673 1,089,544 1,215,037 |
|
|---|---|---|
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HASTINGS AREA COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated property reserve Restricted funds The Isabel Blackman Foundation Fund Sussex Housing Trust for the Elderly Pantry Hygiene project Endowment funds Permanent endowment Expendable endowment fund Hart expendable endowment fund TOTAL FUNDS |
Incoming resources £ 33,185 - 33,185 - 10,000 20,000 5,000 35,000 (1) 16,340 17,276 33,615 101,800 |
Resources expended £ (43,611) (4,471) (48,082) (10,256) (8,395) (10,302) (4,000) (32,953) - (9,170) (16,979) (26,149) (107,184) |
Gains and losses £ - - - - - - - - (17,207) - (9,829) (27,036) (27,036) |
Movement in funds £ (10,426) (4,471) (14,897) (10,256) 1,605 9,698 1,000 2,047 (17,208) 7,170 (9,532) (19,570) (32,420) |
|---|---|---|---|---|
Comparatives for movement in funds
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1/4/24 | in funds | funds | 31/3/25 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | (1,390) | (10,652) | 25,684 | 13,642 |
| Designated property reserve | 112,000 | (4,000) | - | 108,000 |
| 110,610 | (14,652) | 25,684 | 121,642 | |
| Restricted funds | ||||
| The Isabel Blackman Foundation Fund | 400 | 12,570 | - | 12,970 |
| Sussex Housing Trust for the Elderly | 696 | (386) | - | 310 |
| Orbit fund | 195 | - | - | 195 |
| Baby Pantry | 803 | - | - | 803 |
| 2,094 | 12,184 | - | 14,278 | |
| Endowment funds | ||||
| Permanent endowment | 583,266 | (27,175) | - | 556,091 |
| Expendable endowment fund | 35,749 | (2,456) | (22,594) | 10,699 |
| Hart expendable endowment fund | 572,705 | (24,868) | (3,090) | 544,747 |
| 1,191,720 | (54,499) | (25,684) | 1,111,537 | |
| TOTAL FUNDS | 1,304,424 | (56,967) | - | 1,247,457 |
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HASTINGS AREA COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 32,169 | (42,821) | - | (10,652) |
| Designated property reserve | - | (4,000) | - | (4,000) |
| 32,169 | (46,821) | - | (14,652) | |
| Restricted funds | ||||
| The Isabel Blackman Foundation Fund | 15,000 | (2,430) | - | 12,570 |
| Sussex Housing Trust for the Elderly | 10,000 | (10,386) | - | (386) |
| 25,000 | (12,816) | - | 12,184 | |
| Endowment funds | ||||
| Permanent endowment | - | - | (27,175) | (27,175) |
| Expendable endowment fund | 15,863 | (18,319) | - | (2,456) |
| Hart expendable endowment fund | 16,464 | (22,037) | (19,295) | (24,868) |
| 32,327 | (40,356) | (46,470) | (54,499) | |
| TOTAL FUNDS | 89,496 | (99,993) | (46,470) | (56,967) |
Restricted funds
Regular grants are received from "The Isabel Blackman Foundation," and "Sussex Housing Trust for the Elderly" towards the housing and other needs of individuals, which Hastings Area Community Trust disperses to those in need.
Endowment funds
The Hart Fund
When the Trustees of the Hart Charitable Trust transferred a substantial part of its assets to this Charity in 2014/15 they indicated that they did not wish "to create any form of Trust over these monies"; but would like the funds to be "held as an expendable Endowment,with the capital sums being invested to produce income broadly similar to the income supplied to Relief by The Hart Charitable Trust in the past".
The Trustees also asked that Relief should use the income generated within the spirit of the original objects of the Hart Charitable Trust, that is "for or towards the relief, either generally or individually, of persons resident in 'The Borough of Hastings and District of Rother' who are in conditions of need, hardship or distress".
The Hart Trustees ended by saying that the expressed wishes (outlined above) "do not preclude the Trustees of Hastings Area Community Trust from applying either the whole or any part of the Capital for purposes similar to those set out for the use of income".
Transfers between funds
A transfer was made from the Hart expendable endowment fund to the General unrestricted fund cover the administration fees charged by the charity for dealing with the grant payments for the year.
A transfer was made from the Expendable endowment fund to the General unrestricted fund cover the administration fees charged by the charity for dealing with the grant payments made out of the fund during the year and also to transfer the administration fees which were outstanding from earlier years.
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HASTINGS AREA COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1ST APRIL 2025 TO 13TH MAY 2026
16. RELATED PARTY DISCLOSURES
During the year Hastings Area Community Trust received grants and administration fees from Sussex Housing Trust for the Elderly, of which P.R. Carcas and Mrs R.C. Foster were common trustees of. The total commitment received during the period from 1 April 2025 to 13 May 2026 was £14,000 (2025: £14,000).
During the year Hastings Area Community Trust paid a grant to Education Training Consortium Sussex, of which P.R. Carcas was a common trustee of. The total commitment paid was £4,000 (2025 - Nil).
During the year Hastings Area Community Trust paid a grant to ECR Foundation of which P.R. Carcas was a common trustee of. The total commitment paid was £6,224 (2025 - Nil).
17. POST BALANCE SHEET EVENTS
Charity merger
On 14 May 2026 Hastings Area Community Trust merged with ECR Foundation (registered charity number 1212954) in order to provide incorporated status as approved by the Charity Commission.
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