**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. Page 1 **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 Page 2 **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 Page 3 **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: 1. 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 3. 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 Page 4 **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 Page 5 ## **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 Page 6 **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. continued... Page 7 **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** continued... Page 8 **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_| |---|---| continued... Page 9 **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. continued... Page 10 **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". continued... Page 11 **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**| |---|---|---| |||| |||| |||| |||| continued... Page 12 **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| continued... Page 13 **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. continued... Page 14 **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. Page 15