Charity number: 1008638 ## **MAY HEARNSHAW CHARITABLE TRUST** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 5 APRIL 2025** Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## CONTENTS ||Page| |---|---| |**Reference and administrative details of the charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 3| |**Independent examiner's report**|4| |**Statement of financial activities**|5| |**Balance sheet**|6| |**Notes to the financial statements**|7 - 17| Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS _FOR THE YEAR ENDED 5 APRIL 2025_ |**Trustees**|R D Law| |---|---| ||W Munro| ||C H Ringrose| ||M R Ward| |**Charity registered number**
1008638
**Principal office**
Albert Works
Sidney Street
Sheffield
S1 4RG
**Accountants**
BHP LLP
Albert Works
Sidney Street
Sheffield
S1 4RG
**Bankers**
Co-Operative Bank plc
60/62 Pinstone Street
Sheffield
S1 2HN
**Solicitors**
Taylor Emmet
1 Ecclesall Road South
Sheffield
S11 9PA
**Investment advisors**
Rathbones Group Plc (Formerly Investec Wealth & Investment Limited)
61 Napier Street
Sheffield
S11 8HA
**Independent examiner**
W P Smith FCA CTA, Chartered Accountant
J S Bethell & Co
70 Clarkehouse Road
Sheffield
S10 2LJ|| Page 1 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## TRUSTEES' REPORT _FOR THE YEAR ENDED 5 APRIL 2025_ The trustees present their report and accounts for the year ended 5 April 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's Deed, the Charities Act 2011 and 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 (second edition - October 2019) ## **Structure, governance and management** The Trust was established by the Will of the late Mrs May Hearnshaw and continues for charitable purposes, to be applied by the Trustees at their absolute discretion, wholly or mainly for the benefit of the inhabitants of the United Kingdom. The trustees who served during the year were: R. D Law W Munro C H Ringrose M R Ward The trustees are appointed in writing by the existing Trustees. The Trustees usually meet three times a year when they decide on and make major grants to charitable organisations but may decide to make grants at any time. They do not include in their consideration appeals received direct from individuals. Grants authorised but not paid at the year end are included as commitments. The principal risks to which the charity is exposed are the security and the performance of the investments and cash and the trustees are satisfied that they have arrangements in place to mitigate those risks. ## **Objectives and activities** It Is the policy of the Trustees to support either national charities or charities working principally in the South Yorkshire, North Nottinghamshire, Derbyshire, East Lancashire and Cheshire areas. Within the above obligations it is the policy of the Trustees to concentrate their support on the promotion of education and advancement of religion and the relief of poverty and sickness. The trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. All trustees give their time freely and no remuneration was paid in the year. No expenses were paid to the trustees during the year. ## **Financial review** The attached accounts show the current state of the Charity's finances. Total income for the year was £101,365 (2024: £99,305). Total expenditure for the year was £102,394 (2024: £88,063). Investment management costs were £12,854 (2024: £14,566). Grants to institutions were £78,250 (2024: £60,600). Support costs were £10,739 (2024: £12,565). Net expenditure for the year was £51,559 (2024: net income of £ **5** 8,744). After taking into account the loss on investment assets of £50,530 (2024: gain of £47,502), there was a increase in unrestricted funds of £11,825 (2024: £25,808) and a decrease on the endowment fund of £63,384 (2024: increase of £32,936). The trustees consider the overall finances of the Charity to be sound, there being adequate liquid funds available to cover the excess of expenditure over income on the unrestricted fund. ## **Reserve policy** It is the policy of the Trustees to pay out or commit to grants of the level of the annual net income after costs. Any reserves held at each year end are expected to be paid out in line with this policy. Page 2 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## TRUSTEES' REPORT (CONTINUED) _FOR THE YEAR ENDED 5 APRIL 2025_ ## **Investment policy** The Trustees have unrestricted investment powers. Most of the permanent endowment fund is held in quoted securities covering a diversified range of assets including Fixed Interest, UK and Overseas equities, Commercial Property and Alternative Investments. The investment objective is to maximise the funds of the Charity through a mixture of the above assets, achieving a level of income commensurate to the asset mix and capital growth ahead of inflation over time. This objective should be achieved undertaking only a moderate level of risk. The balance of the permanent endowment fund and the unrestricted income fund is held in cash on deposit at the best interest rates available. The trustees' investments are managed by the investment advisors on an advisory basis. Approved by order of the members of the board of Trustees and signed on their behalf by: Signer ID: NPHRLTBG60... ## **C H Ringrose** Date: 29/08/2025 GMT Page 3 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## INDEPENDENT EXAMINER'S REPORT _FOR THE YEAR ENDED 5 APRIL 2025_ ## **Independent examiner's report to the Trustees of May Hearnshaw Charitable Trust ('the charity')** I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2025. ## **Responsibilities and basis of report** 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 2011 Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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 charity as required by section 130 of the 2011 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. Signed: Dated: 01/09/2025 GMT Signer ID: TD5XFMZHCF... W P Smith FCA CTA, Chartered Accountant of J S Bethell & Co 70 Clarkehouse Road Sheffield S10 2LJ Page 4 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## STATEMENT OF FINANCIAL ACTIVITIES _FOR THE YEAR ENDED 5 APRIL 2025_ |**Note**
**Income and endowments from:**
Investments
2
**Total income and endowments**
**Expenditure on:**
Raising funds
3,4
Charitable activities
5
**Total expenditure**
**Net income/(expenditure) before net**
**(losses)/gains on investments**
Net (losses)/gains on investments
10
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**101,365**
**101,365**
**551**
**88,989**
**89,540**
**11,825**
**-**
**11,825**
**170,600**
**11,825**
**182,425**|**Endowment**
**funds**
**2025**
**£**
**-**
**-**
**12,854**
**-**
**12,854**
**(12,854)**
**(50,530)**
**(63,384)**
**2,494,830**
**(63,384)**
**2,431,446**|**Total**
**funds**
**2025**
**£**
**101,365**
**101,365**
**13,405**
**88,989**
**102,394**
**(1,029)**
**(50,530)**
**(51,559)**
**2,665,430**
**(51,559)**
**2,613,871**|Total
funds
2024
£
99,305| |---|---|---|---|---| |||||99,305| |||||14,898
73,165| |||||88,063| |||||11,242
47,502| |||||58,744| |||||2,606,686
58,744| |||||2,665,430| The Statement of financial activities includes all gains and losses recognised in the year. Page 5 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## BALANCE SHEET _AS AT 5 APRIL 2025_ ||||**2025**|**2025**||2024| |---|---|---|---|---|---|---| ||**Note**||**£**|||£| |**Fixed assets**||||||| |Investments|10||**2,428,100**|||2,506,023| |Investment property|11||**57,213**|||57,213| ||||**2,485,313**|||2,563,236| |**Current assets**||||||| |Debtors|12|**2,581**|||208|| |Cash at bank and in hand||**134,286**|||107,844|| |||**136,867**|||108,052|| |**Current liabilities**||||||| |Creditors: amounts falling due within one year|13|**(8,309)**|||(5,858)|| |**Net current assets**|||**128,558**|||102,194| |**Total assets less current liabilities**|||**2,613,871**|||2,665,430| |**Total net assets**|||**2,613,871**|||2,665,430| |**Charity funds**||||||| |Endowment funds|14||**2,431,446**|||2,494,830| |Restricted funds|14||**-**|||-| |Unrestricted funds|14||**182,425**|||170,600| |**Total funds**|||**2,613,871**|||2,665,430| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Signer ID: NPHRLTBG60... ## **C H Ringrose** Date: 29/08/2025 GMT The notes on pages 7 to 17 form part of these financial statements. Page 6 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **1. Accounting policies** ## _**1.1 Basis of preparation of financial statements**_ The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. May Hearnshaw Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are prepared in sterling, which is the functional currency of the charity and rounded to the nearest £. ## _**1.2 Income**_ Dividends and interest are taken into account in the year in which they are received. Rental income is recognised in the period it relates to. ## _**1.3 Expenditure**_ Expenditure is included on an accruals basis inclusive of any irrecoverable VAT. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure. All governance and secretarial costs are akin to support costs under SORP 2019. All costs other than investment fees are therefore shown as support costs under charitable expenditure. ## _**1.4 Investments**_ Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities. Investment Properties held as fixed assets are shown at cost less provision for impairment. ## _**1.5 Debtors**_ Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 7 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **1. Accounting policies (continued)** ## _**1.6 Cash at bank and in hand**_ Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## _**1.7 Liabilities and provisions**_ Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. ## _**1.8 Financial instruments**_ The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## _**1.9 Fund accounting**_ General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Endowment funds are funds established by the Will of Mrs M Hearnshaw, on 16 January 1992. The Trust period of 80 years is of such length that the Trustees consider the capital of the fund should be regarded as reasonably permanent and as such is shown in the financial statements as an expendable endowment fund. They may also apply any part of the capital to further the objects of the Trust. Investment income, gains and losses are allocated to the appropriate fund. Page 8 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **2. Investment income** |Rental income
Income from listed investments
Interest receivable
**_Total 2025_**
Total 2024|**Unrestricted**
**funds**
**2025**
**£**
3,340
89,343
8,682
101,365
99,305|**Total**
**funds**
**2025**
**£**
**3,340**
**89,343**
**8,682**
**101,365**
99,305|Total
funds
2024
£
540
94,271
4,494| |---|---|---|---| ||||99,305| ||||| ## **3. Expenditure on raising funds** ## _**Costs of generating property income**_ |Rental property costs
Total 2024|**Unrestricted**
**funds**
**2025**
**£**
551
332|**Total**
**funds**
**2025**
**£**
**551**
332|Total
funds
2024
£
332| |---|---|---|---| ||||| Page 9 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **4. Investment management costs** |Investment management fees
Total 2024|**Endowment**
**funds**
**2025**
**£**
12,854
14,566|**Total**
**funds**
**2025**
**£**
**12,854**
14,566|Total
funds
2024
£
14,566| |---|---|---|---| ||||| ## **5. Analysis of expenditure on charitable activities** ## _**Summary by fund type**_ |Relief of poverty and sickness grants
Other grants
Support Costs
Total 2024|**Unrestricted**
**funds**
**2025**
**£**
59,000
19,250
10,739
88,989
73,165|**Total**
**2025**
**£**
**59,000**
**19,250**
**10,739**
**88,989**
73,165|Total
2024
£
51,600
9,000
12,565| |---|---|---|---| ||||73,165| ||||| Page 10 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **6. Analysis of expenditure by activities** |Grants for the relief of poverty and sickness
Other grants
Support costs
**_Total 2025_**
Total 2024|**Grant funding**
**of activities**
**2025**
**£**
59,000
19,250
-
78,250
60,600|**Support costs**
**2025**
**£**
-
-
10,739
10,739
12,565|**Total**
**funds**
**2025**
**£**
**59,000**
**19,250**
**10,739**
**88,989**
73,165|Total
funds
2024
£
51,600
9,000
12,565| |---|---|---|---|---| |||||73,165| |||||| ## **Analysis of support costs** |Accountancy charges - income
Independent Examination fees
Bank charges
Grave upkeep and maintenance
Accountancy charges - capital
**_Total 2025_**|**Total**
**funds**
**2025**
**£**
**7,161**
**870**
**145**
**175**
**2,388**
**10,739**|Total
funds
2024
£
8,533
900
112
175
2,845| |---|---|---| |||12,565| Page 11 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ |**7.**|**Grants payable**|**2025**|**2024**| |---|---|---|---| |||**£**|**£**| ||Grants to institutions relatingto relief ofpovertyand sickness:||| ||Active Independence|1,000|-| ||Alzheimer's Society
BabyBasics|-
-|5,000
3,000| ||Batten Disease FamilyAssociation|-|1,000| ||Ben's Centre|4,000|-| ||Blythe House Hospicecare|-|2,000| ||BooBee - Prevent Breast Cancer Limited|-|2,000| ||Cavendish Cancer Care|-|2,500| ||Children's Hospital Charity
Emmaus Sheffield|-
-|7,000
3,000| ||Exodus
Golddigger Trust|-
3,000|1,600
-| ||HeadwayNottingham|2,000|-| ||Horatio's Garden|-|3,000| ||Huntingdon's Disease Association|-|2,000| ||Lenny's Legacy|1,000|-| ||Light Peer Support|-|1,000| ||Maggie's|-|1,000| ||Meningi�s Now|5,000|-| ||Mind|500|-| ||Newlife|-|2,000| ||Nomad|4,000|-| ||Paces|-|2,500| ||Prostate Cancer UK|-|1,500| ||Relate Chesterfield and North Derbyshire|2,500|-| ||Rethink Mental Illness
Respite Association|-
1,000|1,000
-| ||Rotherham Cancer Care|1,000|-| ||Roundabout
SNaP Youth|-
500|5,000
-| ||SITRAN|25,000|-| ||Stroke Association|-|4,000| ||St Wilfrid's Centre|2,500|-| ||South Yorkshire Charity Mentors
Yorkshire Children's Charity|2,500
3,500|-
-| ||Young People Versus Arthritis|-
59,000|1,500
51,600| Page 12 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **7. Grants payable (continued)** ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Other Grants:
Amber Bee CIC|3,750|-| |Element Society
Friends of the Cromford Canal|5,000
-|-
1,000| |GatewayChurch Barnsley|2,000|-| |Goalball UK|-|2,000| |Oak Tree Farm Rural Project|-|1,000| |Oughtibridge War Memorial Recreation Ground|2,000|-| |Sheffield & Rotherham Wildlife Trust|1,500|-| |SPACE|-|2,000| |Support Dogs|5,000|-| |Work Ltd - Hidden Gem Cafe|-|3,000| |||| ||19,250|9,000| ## **8. Independent examiner's remuneration** ||**2025**|2024| |---|---|---| ||**£**|£| |Fees payable to the charity's independent examiner for the independent||| |examination of the charity's annual accounts|**870**|900| ## **9. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 5 April 2025, no Trustee expenses have been incurred (2024 - £NIL). Page 13 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **10. Fixed asset investments** ||**Endowment**
**fund**|**Unrestricted**
**fund**|**Total**
**2025**|**Total**
**2024**| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |**_Cost or valuation_**||||| |At 6 April 2024|2,485,242|8,939|**2,494,181**|2,445,942| |Additions|189,666|-|**189,666**|576,365| |Disposals|(239,703)|-|**(239,703)**|(575,627)| |Revaluations|(50,531)|-|**(50,531)**|47,501| |At 5 April 2025|2,384,674|8,939|**2,393,613**|2,494,181| |||||| |Investment cash|34,487|-|**34,487**|11,842| |At 5 April 2025|2,419,161|8,939|**2,428,100**|2,506,023| |||||| |Historical cost|2,040,127|8,939|**2,049,066**|2,060,417| ## **11. Investment property** |**_Cost_**
At 6 April 2024
At 5 April 2025|**Freehold**
**investment**
**property**
**£**
**57,213**| |---|---| ||**57,213**| Page 14 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **12. Debtors** |**_Due within one year_**
Other debtors
**Creditors: Amounts falling due within one year**
Accruals and deferred income|**2025**
**£**
**2,581**
**2,581**
**2025**
**£**
**8,309**|2024
£
208| |---|---|---| |||| |||208| |||2024
£
5,858| ## **13. Creditors: Amounts falling due within one year** ## **14. Statement of funds** ## **Statement of funds - current year** |**_Unrestricted funds_**
General funds
**_Endowment funds_**
Expendable endowment funds
**_Total of funds_**|**Balance at 6**
**April 2024**
**£**
**170,600**
**2,494,830**
**2,665,430**|**Income**
**£**
**101,365**
**-**
**101,365**|**Expenditure**
**£**
**(89,540)**
**(12,854)**
**(102,394)**|**Gains/**
**(Losses)**
**£**
**-**
**(50,530)**
**(50,530)**|**Balance at 5**
**April 2025**
**£**
**182,425**| |---|---|---|---|---|---| ||||||**2,431,446**| ||||||**2,613,871**| Page 15 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **14. Statement of funds (continued)** ## **Statement of funds - prior year** |**_Unrestricted funds_**
General funds
**_Endowment funds_**
Expendable endowment funds
**_Total of funds_**|Balance at
1 April 2023
£
144,792
2,461,894
2,606,686|Income
£
99,305
-
99,305|Expenditure
£
(73,497)
(14,566)
(88,063)|Gains/
(Losses)
£
-
47,502
47,502|Balance at
5 April 2024
£
170,600| |---|---|---|---|---|---| ||||||2,494,830| ||||||2,665,430| ## **Unrestricted Income Fund** These are the reserves which the Trustees are required to apply in accordance with the charity's objectives. ## **Expendable Endowment Fund** The fund was established by the Will of Mrs M Hearnshaw, on 16 January 1992. The Trust period of 80 years is of such length that the Trustees consider the capital of the fund should be regarded as reasonably permanent and as such is shown in the financial statements as an expendable endowment fund. They may also apply any part of the capital to further the objects of the Trust. ## **15. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Fixed asset investments
Investment property
Current assets
Creditors due within one year
**_Total_**|**Unrestricted**
**funds**
**2025**
**£**
8,939
57,213
124,582
(8,309)
182,425|**Endowment**
**funds**
**2025**
**£**
2,419,161
-
12,285
-
2,431,446|**Total**
**funds**
**2025**
**£**
**2,428,100**
**57,213**
**136,867**
**(8,309)**| |---|---|---|---| ||||**2,613,871**| Page 16 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c ## **MAY HEARNSHAW CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 5 APRIL 2025_ ## **15. Analysis of net assets between funds (continued)** ## **Analysis of net assets between funds - prior year** |Fixed asset investments
Investment property
Current assets
Creditors due within one year
**_Total_**|Unrestricted
funds
2024
£
8,939
57,213
108,052
(3,604)
170,600|Endowment
funds
2024
£
2,497,084
-
-
(2,254)
2,494,830|Total
funds
2024
£
2,506,023
57,213
108,052
(5,858)
2,665,430| |---|---|---|---| ## **16. Related party transactions** Mr C H Ringrose is a partner with BHP LLP. No charges are made for his services. BHP LLP act as accountants to the Charity, charging fees at market rate as detailed in the accounts. Subject to the foregoing no reimbursement of expenses is paid, directly or indirectly, to any Trustee or person or persons known to be connected with any of them. Page 17 Document ID: 96715512887616cef5caa5fc305b6c45e268186b393378d81ebbfd98a5e46f3c