Charlty number: 1008914
R G HILLS CHARITABLE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

R G HILLS CHARITABLE TRUST
CONTENTS
Page
Reference and administrative details of the charity, its trustees and adv¥sers
Trustees, report
Independent audltors, report
Statement of financial activities
10
Balance sheet
Statement of cash flow3
12
Notes to the financial statements
13-25

R G HILLS CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Mr K Jones, Chainnan
Mr H M S Barrett. Trustee
Charity registered number
1008914
Princlpal office
3940 St. Margaret's Street, Cantert)ury, Kent, CT12TX
Auditors
Pure Audit Limited, 76 Canterbury Innovation Centre, University Road, Canterbury, Kent, CT2 7FG
Bankers
CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
Solicitors
Furley Page, 3940 St. Margaret's Street, Canterbury, Kent, CT12TX
Investment Advisers
Brooks Macdonald Asset Management Ltd, 6 Vale Avenue, Tunbridge Wells , Kent, TN11DJ
Page 1

R G HILLS CHARITABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Board of Trustees presents its report and the audited financial statemenls for the ended 31 March 2024.
The Trustees confirm that the annual report and financial statemenls of the Charity comply with Current statutory
requirements, the requirements of Ihe Charity's governing document, the provisions of Ihe Stalement of
Recommended Practice (Second edition) and Financial Reporting Standard FRS102.
Objectives and Activities
The charity was formed to apply its income in whole or in part towards the furtherance of such charitable
purposes as the Trustees shall from time to lime think fit. Various donations have been made, or are currently
being considered, by the Trustees for both national and local charities, some of which are engaged in overseas
charitable work.
As there are so many applications received by the charity for donations, to keep expenditure to a minimum,
replies are normally only sent to successful applicants.
PUBLIC BENEFIT
The Trustees have only supported charities registered with the Charity Commission or have similar status after
having Carefully considered the merits or otherwise of specific requests. These are mainly, but not exclusively,
charities concerned with health, poverty and education issues which are engaged in activities for the public
benefit.
Reference is made to the general and financial information about a charity applying for funds available on the
Charity Commission website and other publications in addition to information provided by the applicant.
By adopting this structured approach, the Trustees consider they have fully complied with the Charities Act 2011
to have due regard to the guidance on public benefit published by the Commission in exercising their powers or
duties.
Achievements and performance
REVIEW OF ACTIVITIES
The Trustees are pleased to be able to report that they were able lo distribute £124,110 (2023.. £120,000) to
various charities. After distributing this sum and paying expenses, there was an increase in the Unrestricted
Funds account surplus of £975 for the year to £118,811 (2023.. Surplus increase of £15,874).
There were realised and unrealised loss of £194,960 {2023: Loss £246,409).
INVESTMENT POLICY AND PERFORMANCE
The market value of investments, including cash, at year end was £4,288,088 {2023: £4,149,572).
To stay abreast of the conlinuously fluctuating markels and ensure security and returns on investments, updates
are regularly received from the investment managers with meetings where appropriate, lo monitor performance
and to discuss any amendments to strategy.
Trustees have dislributed over £4 million to various charities and the conlinued distributions from the R G Hills
Charitable Trust are a lasting tribute to Mr R G Hills and Mrs. Hills benevolence. The Trust does nol actively
fundraise and seeks to continue the philanthropic work desired by Mrs. Hills through the careful stewardship of
Its existing resources.
Financial review
Page 2

R G HILLS CHARITABLE TRUST
TRUSTEES, REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2024
GOING CONCERN
Accounting standards require the Trustees to consider the approprialeness of the going concern basis when
preparing the financial slatemenls. After making appropriate enquiries, the Trustees have a reasonable
expectation that Ihe charity has adequate resources to continue in operational existence for the foreseeable
future. For this reason, they Continue to adopt the going concern basis in preparing the financial statements.
Further details regarding the adoption of Ihe going concern basis can be found in the Accounting Policies.
RESERVES POLICY
The tolal reseNes at the year end were £4,455,010 (2023.. £4,275,235). The split of these being unrestricled
£118,811 (2023.. £117,836) and permanent endowment of £4,336,199 {2023'. £4,157,399). The permanent
endowment funds are mainly investments which are held to earn income from which donations can be
distributed in accordance with the objectives of the charity. These funds are, therefore, excluded from the
reserves policy.
The Trustees review annually the policy regarding unreslricted funds which amounted to £118,811 at the end of
year. They have decided there is a need for the Trustees to retain sufficient funds to meet any..
accrued and future management costs which cannot be met from existing funds due to an unexpected fall
in investment income.
temporary cash flow shortages when donations are made in advance of investment income being
received.
exceptional expenditure, for example, to fund an opportunity that is too good to be missed as it will allow
the Trustees to deliver their mission in a more effective or comprehensive way.
The Trustees have concluded the larget level of reserves should be in the region of £30,000 to £40,000.
Structure, governance and management
CONSTITUTION
The Trust is an unincorporated trust, constituted under a Trust deed dated 16 December 1982 and is a
registered charity. numbered 1008914. The Trust was originally created by Mrs E M Hills on this date for a
consideration of £1. It remained dormant until 31 March 1996, at which date there was an approprialion of assets
amounting to £2,204,260 from the estate of Mr R G Hills and Mrs E M Hills. This represented the grealer part of
three quarters of the residue of their estate which she left to the Trust. The balance of this entitlement of
£161,485 was received by the Trust in bNO payments in January 1998 and June 1999.
A further £7,062 was added in 2003 when the Mrs E M Hills Charitable Trust ceased its operations.
In addition, Mr and Mrs Hills left the net sum of £130,256 after inheritance tax on a separate life interest trust.
The life tenant died on 1 December 2017 and £201,549 was subsequently transferred to the R G Hills Charitable
Trust. This has been included in the Permanent Endowment.
The Trust deed confers wide ranging powers of investment upon the Truslees. Since the death of Mrs. Hills, the
Truslees have dislributed over £4 million to various charities and Ihe continued distributions from the R G Hills
Charitable Trust are a lasting tribute to Mrs. Hills benevolence. The Trust does not actively fundraise and seeks
to continue the philanthropic work desired by Mr R G Hills and Mrs. Hills through the careful stewardship of its
existing resources.
Page 3

R G HILLS CHARITABLE TRUST
TRUSTEES, REPORT Icontinuedl
FOR THE YEAR ENDED 31 MARCH 2024
METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the charity is the responsibility of the Trustees who are elected and co opted under the
terms of the Trust deed.
The current Trustees appointed are Mr. K Jones, a chartered accountant, and Mr. H M S Barrett, a solicitor and
consultant with Tassells LLP.
The appointment of new Trustees is governed by section 36, Trustee Acl 1925 and can only be exercised by the
continuing or surviving Trustees, or the personal representative of the last continuing or suNiving Trustee. When
considering a new appointment, the Trustees have regard to any necessary skills needed and to provide
necessary academic, professional and commercial knowledge relevant to the charity's activities.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
New Trustees, unless legally or financially and professionally qualified, will undergo an orientation day to brief
them on Gharity law. They will receive a copy of the governing Trust deed, instruction on the decision making
process, copies of the last three years, Trustee reports and financial stalements, Ihe current financial
performance of the charity and the website reference of the Charity Commission's guidance The Essential
Trustee" and olher relevant publicalions. Trustees are encouraged to attend appropriate external training events.
where these will facilitate a belter underslanding of Iheir role.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Trustees meet at suitable intervals to consider the performance of the investments and to decide on
appropriate donations. The charily has no employees. The Chairman deals with the day-to-day operations of the
charity.
RISK MANAGEMENT
The Trustees have assessed the major risks to which the charity is exposed. in particular those related to the
operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our
exposure to the major risks.
The Trustees have a risk management strategy which includes:
the annual review of the risks the charity may face.
the establishment of systems and procedures lo mitigate those risks.
the implementation of procedures designed to minimise any potential impact on the charity, should these
risks materialise.
The variability of the investment returns constitutes the charity's major risk, but this has been reduced by a wide
range of investments managed by Brooks Macdonald operating both in the UK and abroad. A key element in the
management of financial risk is the setting of a reserve policy and its regular review by the Trustees.
PRINCIPAL ACTIVITIES
The charitls principal activities have already been described in the foregoing heading of Public Benefit.
Plans for future periods
The charity will continue to dislribute income generated from investments to various registered charities. In the
Page 4

R G HILLS CHARITABLE TRUST
TRUSTEES. REPORT {continuedl
FOR THE YEAR ENDED 31 MARCH 2024
Trustees, opinion, the level of reseNes is sufficient to cover any unforeseen expenses and to provide flexibilily in
meeting exceptional funding requirements for charities where the Trustees are satisfied there is an urgency, and
the purpose fits their priorities.
INFORMATION ON FUNDRAISING PRACTICES
The charity is a grant making body and is not engaged in fundraising activities.
TRUSTEES, RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Truslees to prepare financial statemenls for
each financial year which give a true and fair view of the slate 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 accounling policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgments and accounting estimates that are reasonable and prudent.
slate whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the
charity's transactions and 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, the Charity (Accounts
and Reports) Regulations 2008 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 are responsible for the maintenance and integrity of the charity and financial information included
on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of
financial statements may differ from legislation in other jurisdictions.
28 Jan 2025
This report was approved by the Trustees, on
and signed on their behalf by..
Mr KJone
-ehairman
Page 5

R G HILLS CHARITABLE TRUST
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF R G HILLS CHARITABLE TRUST
OPINION
We have audited the financial statements of R G Hills Charilable Trust (the 'charity') for the year ended 31
March 2024 which comprise the Statement of financial activities, Ihe Balance sheel, the Statement of cash flows
and the related notes, including a summary of significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards(United
Kingdom Generally Accepted Accounting Practice) including FRS 102 "The Financial Reporting Standard
applicable in the UK and Republic of Ireland"
The financial statements have been prepared in accordance with Accounling and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standards 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.
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.
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming
resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice- and
have been prepared in accordance with the requirements of the Charities Act 2011.
BASIS FOR OPINION
We conducted our audit in accordance with Internalional Standards on Auditing (UK) (ISAS {UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibililies for the audit
of the financial statements section of our report. We are independent of the charity in accordance with the ethical
requiremenls that are relevant to our audit of the financial statemenls in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
We have nothing to report in respect of the following matters in relation to which the ISAS {UK) require us to
report to you where:
the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is
not appropriale., or
the Truslees have not disclosed in the financial statements any identified material uncertainties that rnay
cast significant doubt about tho charitrfs abilily lo continue to adopt the going concern basis of accounting
for a period of at least twelve months from the date when the financial statements are authorised for issue.
OTHER INFORMATION
The Trustees are responsible for the other information. The other information comprises Ihe information included
in Ihe Annual report, other than the financial statements and our Auditors, report Ihereon. Our opinion on the
financial statements does nol cover the other information and we do not express any form of assurance
conclusion thereon.
Page 6

R G HILLS CHARITABLE TRUST
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF R G HILLS CHARITABLE TRUST
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so. consider whether the other information is malerially inconsistent with the financial slatements or our
knowledge obtained in the audit or othetwise appears to be malerially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have performed, we conclude Ihat there is a material misstatement of this other information, we are
required to report that fact.
We have nothing to report in this regard.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion..
the information given in the Trustees, report is inconsistent in any mateiial respect with the financial
stalements. or
sufficient accounting records have not been kept- or
the financial statements are not in agreement with the accounting records and returns,. or
we have not received all the infonnation and explanations we require for our audit.
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Trustees, responsibilities statement, the Trustees are responsible for the
preparation of financial statements which give a true and fair view, and for such internal control as the Trustees
determine is necessary to enable the preparation of financial statements that are free from material
misstatemenl, whelher due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations. or have no
realistic alternative but to do so.
Page 7

R G HILLS CHARITABLE TRUST
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF R G HILLS CHARITABLE TRUST
AUDITORS, RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance wilh
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and lo issue an Auditors. report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a malerial misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularilies, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularilies, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is delailed below..
Extent to which the audit was considered capable of detecting irregularities, including fraud:
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and then design and perform audit procedures responsive to those risks. including obtaining audit
evidence that is sufficient and appropriate to provide a basis for our opinion.
Identifying and assessing potential risks related to irregularities..
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and
noncompliance with laws and regulations, we considered the following-
The nature of the industry and sector, control environment and business performance including the design of
the entity's remuneration policies, results of our enquiries of management about their own identification and
assessment of the risks of irregularities and any matters we identified having reviewed Ihe entity's policies and
procedures. the matters discussed among the audit engagement team regarding how and where fraud might
occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In
common with all audits under ISAS (UK), we are also required to perform specifiG procedures to respond to the
risk of management override.
We also obtained an understanding of Ihe legal and regulatory frameworks that the entity operates in and
focused on those laws and regulations Ihat had a direct effect on the determination of malerial amounts and
disclosures in the financial statements. The key laws and regulations we considered in this context included the
Charities Act 2011.
Audit response to risks identified:
As a result of performing the above, we identified revenue recognition as key audit matter related to the
potential risk of fraud. Our procedures to respond to risks identified included the following..
reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with provisions of relevant laws and regulations described as having a direct effect on the financial
stalements.,
enquiring of managemenl, concerning actual and potential litigation and claims.,
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud-
Page 8

R G HILLS CHARITABLE TRUST
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF R G HILLS CHARITABLE TRUST
obtaining an understanding of provisions and discussing with management to understand the basis of
recognition or non-recognition of provisions,. and in addressing the risk of fraud through management override
of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the
judgements made in making accounting eslimates are indicative of a potential bias. and evaluating the business
rationale of any significant transactions thal are unusual or oulside the normal course of business.
We also communicated relevant identsfied laws and regulations and potential fraud risks to all engagement
team members and remained alert to any indications of fraud or noncompliance with laws and regulations
throughout the audit.
Because of th6 inherent limilations of an audit. Ihere is a risk that we will not delecl all irregularities, including
those leading tc a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and Iranssctions
reflected in the financial statements, as we will be less likely lo become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraLKI involves
intentional Con￿alment, forgery. collusion. omission or misrepresentalion,
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: ww.fr&org.uklauditorsresponsibilities. This description forms part of our
Auditors, report.
USE OF OUR REPORT
This report is made solely to the charivs trustees. as a body. in accordance with Part 4 of the Charilies
(Accounls and Reports) Regulations 2008, Our audit work has been undertaken so that we mighl stale to the
charity's truslees those matters we are required to stale to them in an Auditors, report and for no other purpose.
To
fullest extent permitted by law, we do not a¢￿pt or assume responsibility to anyone other than the charity
d it
Irustees,
s a body, for our audit work, for Ihis report, or for Ihe opinions w8 have formed.
Pure AudSt Llmited
Chartered Certified Accountants and Statutory Audtlors
76 Canterbury Innovation Centre
University Road
Canlerbury
Kent
CT2 7FG
Date:
Pure Audit Limiled are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
28 January 2025
Page 9

R G HILLS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Endowment
funds
funds
2024
2024
Total
funds
2024
Tot81
funds
2023
Note
INCOME AND ENDOWMENTS FROM:
Investments
150,975
150,975
156. 170
TOTAL INCOME AND ENDOWMENTS
150,975
150,975
156.170
EXPENDITURE ON:
Raising funds:
Inveslment management
Charitable activities
16,160
16,160
150.000
18,158
140,296
5,6.7
150.000
TOTAL EXPENDITURE
150,000
16,160
166.160
158,454
NET INCOME I (EXPENDITURE) BEFORE
INVESTMENT GAINSI{LOSSES)
Net gainsl{losses) on investments
NET INCOME I {EXPENDITUREI BEFORE
OTHER RECOGNISED GAINS AND LOSSES
975
(16,160)
194,960
{15,185)
194,960
(2,284)
(246,409)
975
178,800
179.775
(248,693)
NET MOVEMENT IN FUNDS
975
178,800
179,775
(248,693)
RECONCILIATION OF FUNDS:
Total funds brought fotward
117.836
4.157,399
4,275,235
4, 523,928
TOTAL FUNDS CARRIED FORWARD
118,811
4,336,199
4,455,010
4, 275,235
The notes on pages 13 to 25 form part of these financial statements.
Page 10

R G HILLS CHARITABLE TRUST
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
FIXED ASSETS
Investments
11
4,288,088
4, 149.572
CURRENT ASSETS
Cash at bank and in hand
181,399
145,272
CREDITORS: amounts falling due within
one year
12
(14,477)
(19, 609J
NET CURRENT ASSETS
166,922
t25, 663
NET ASSETS
4,455,010
4, 275,235
CHARITY FUNDS
Endowment funds
13
4,336,199
118,811
4, 157,399
117,836
Unrestricted funds
13
TOTAL FUNDS
4,455,010
4, 275,235
The financial statements were approved by the Trustees on 28 Jan 2025 and signed on their behalf, by=
Mr K Jones, Ch
The notes on pages 13 to 25 fomi part of these financial statements.
Page11

R G HILLS CHARITABLE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities
15
(20,317)
(13.236)
Proceeds from sale of investments
Purchase of investments
612,261
{555,817)
236,425
(230,340)
NET CASH USED IN INVESTMENT ACTIVITIES
56,444
36,127
145,272
6,085
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents brought forward
(7. 151)
152,423
CASH AND CASH EQUIVALENTS CARRIED FORWARD
181,399
145,272
The notes on pages 13 to 25 form part of these financial statements.
Page 12

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
1.1 Basls of preparation of financial statements
The financial statements have been prepared in accordance with the second edition of the Charities
Slatement of Recommended Practice issued in October 2019, the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otheNise stated in the relevant notes to these
accounts.
R G Hills Charitable Trust constitutes a public benefit entity as defined by FRS 102.
General informatlon
The entity is a charity registered with Charity Commission in England & Wales under registration
number 1008914. The charity's registered office address is.. 3940 St. Margaret's Street, Canterbury,
Kent, CT12TX.
1.2 Golng concern
The Trustees have assessed that the expectation is that the charity will continue in operational
existence for the forseeable future and, accordingly, these financial statements are prepared on
going concern basis.
Page 13

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES {continuedl
1.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the dale on which either.. the charity is aware that
probate has been granted, the estate has been finalised and notification has been made by the
executor{s) to the Trust that a distribution will be made, or when a distribulion is received from the
estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be
measured reliably and the charity has been notified of the executovs intention lo make a distribution.
Where legacies have been notified to the charity, or the charity is aware of the granting of probale,
and the criteria for income recognition have nol been met, Ihen the legacy is treated as a contingent
asset and disclosed if material.
Gifts in kind donated for distribution are included at valuation and recognised as income when they
are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Donated facilities are included at the value to the charity where this can be quantified and a third
party is bearing the cost. No amounts are included in the financial statements for services donated
by volunteers.
Donated seNices or facililies are recognised when the charity has control over the item, any
conditions associated with the donated item have been met, the receipt of economic benefit from the
use of the charity of the item is probable and that economic benefit Gan be measured reliably.
On receipt, donated professional seNices and donated facilities are recognised on the basis of the
value of the gift to the charity which is the amount the charity would have been willing to pay to
obtain seNices or facilities of equivalent economic benefit on the open market., a corresponding
amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relalion to investment income is recognised at the time the investment
income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the seNice.
Page 14

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES {Gontinued)
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, 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 classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned between those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Support costs are those costs incurred directly in support of expenditure on the objects of the
charity. Governance costs are those incurred in connection with administration of the charity and
compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in
trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charitls operations, including
support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants payable are charged in the year when the offer is made 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 expendilure.
All expenditure is inclusive of irrecoverable VAT.
1.5 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 fair
value cannot be measured reliabily in which case it is measured at cost less impairment. Inveslment
gains and losses, whether realised or unrealised, are combined and shown in the heading
'Gainsl{losses) on investments, in the Stalement of financial activities.
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
malurily of three months or less from the dale of ar4uisition or opening of the deposit or similar
account.
Page 15

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES {continued)
1.7 Liabilities and provisions
Liabilities are reGognised when there is an obligation at the Balance sheet date as a result of a past
event, il is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be eslimated reliably. Liabilities are recognised at Ihe 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 seNices it musl provide. Provisions are measured al the best estimate of the
amounls required to settle the obligation. Where the effecl 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 within
interest payable and similar charges.
1.8 Financial instruments
The charily only has financial assels and financial liabilities of a kind that qualify as basic financial
instruments.
Basic financial instruments are initially recognised at transaction value and
subsequenlly measured al their settlement value with the exception of bank loans which 8re
subsequently measured at amortised cost using the effective interest method.
1.9 Fund accounting
General funds are unrestrided 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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for
particular purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specrfic restriclions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes lo the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
INVESTMENT INCOME
Unrestricted Endowment
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Investment income - listed investments
Investment income - local cash
149,068
1,907
149,068
1,907
155, 580
590
150,975
150,975
156, 170
Tolal 2023
156, 170
156, 170
Page 16

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
INVESTMENT MANAGEMENT COSTS
Unrestricted EndovJment
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Investment management fees
16,160
16,160
18, 158
Total 2023
18,158
18, 158
DIRECT COSTS - CHARITABLE ACTIVITIES
Unrestrlcted Endowment
funds
funds
2024
2024
Total
2024
Total
2023
Donations
124,110
124,110
120,000
Tot812023
120,000
120,000
SUPPORT COSTS - CHARITABLE ACTIVITIES
Unrestricted Endowment
funds
funds
2024
2024
Total
2024
Total
2023
Trustees, professional fees
21,638
120
21,758
16,490
Total 2023
16,130
360
16,490
Page 17

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
GOVERNANCE COSTS
Unrestrlcted Endowment
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Auditors. remuneration
Accountancy
Subscription and other charges
Managemenl
Legal & professional
4,140
3,600
112
4.140
3,600
112
4,020
3, 650
146
18,038
120
18,158
12,840
25,890
120
26,010
20, 656
Total 2023
20,296
360
20, 656
ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE
Resources
expended
2024
Total
2024
Total
2023
Expenditure on investment management
16,160
16,160
18, 158
Costs of raising funds
16,160
16,160
18, 158
Direct and support costs
Expenditure on governance
124,738
25,262
124,738
25,262
121,800
18,496
166,160
166,160
158, 454
Total 2023
158,454
158,454
ANALYSIS OF EXPENDITURE BY ACTIVITIES
Activities
undertaken
directly
2024
Total
2024
Total
2023
Direct costs - (Donations to registered charities)
124,110
124,110
120,000
Total 2023
120, 000
120, 000
Page 18

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
NET INCOMEI{EXPENDITURE)
During the year, no Trustees received any remuneration (2023 £NIL). However. the Trustees are
expressly authorised to charge professional fees in the Trust instrument. See note 19 for fees charged by
Trustees.
During the year, no Trustees received any benefits in kind (2023 - £NIL).
During the year, no Trustees received any reimbursement of expenses (2023 - £NIL).
10. AUDITORS, REMUNERATION
2024
2023
Fees payable to the charitys auditor and its associates for the
audit of the charity's annual accounts
4,140
4, 020
Auditors remuneration includes audit fee of £3.450 (2023.. £3,350) and VAT of £690 (2023.. £670).
11. FIXED ASSET INVESTMENTS
Listed
securities
Market value
At 1 April 2023
Additions
Disposals
Revaluations
4,149,572
555,817
{511,2831
93,982
At 31 March 2024
4,288,088
Hlstorlcal cost
3,848,240
Investments at market value comprise:
2024
2023
Listed investments
4,288,088
4, 149,572
All fixed asset investments are managed by Brooks Macdonald Asset Management Ltd.
Page 19

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. FIXED ASSET INVESTMENTS (continued)
Valuatlon
Investments held at the year end comprised the following..
31 March
2024
31 Ma￿h
2023
European Equities
Hedge Funds and Alternatives
International and Thermatic
International Fixed Interest
Japan, Far East and Emerging Markets
North American Equities
Property
Structured Return
UK Equities and Unit Trusts
UK Fixed Interest
175,650
264,634
856,985
105,675
342,729
589,152
94,284
391,914
847,643
619,422
166, 645
376, 604
838,814
98, 966
467,206
477, 820
95,442
305, 147
838, 225
484, 703
4,288,088
4, 149,572
At the year end, Brooks Macdonald, the investment managers were also holding a bank balance of
£130,154 (2023: £88.080).
Material investments
No single holding exceeded 50A of the total value of the portfolio as at the year 8nd.
12. CREDITORS: Amounts falling due within one year
2024
2023
Accruals and deferred income
14,477
19.609
13. STATEMENT OF FUNDS
STATEMENT OF FUNDS- CURRENT YEAR
Balance at
31 March
2024
Balance at
1 April 2023
Gainsl
(Losses)
Income Expendlture
Unrestrlcted funds
General Funds- all funds
117,836
150,975
{150,000)
118,811
Page 20

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. STATEMENT OF FUNDS (Continued)
Endowment funds
Endowment Fund
4,157,399
{16,160)
194,960
4,336,199
Total of funds
4,275,235
150,975
{166,160)
194,960
4,455,010
STATEMENT OF FUNDS - PRIOR YEAR
Balance al
31 March
2023
Balance al
l April 2022
Gainsl
(Losses)
Income Expendilur8
General Funds- all funds
101,962
156, 170
(140, 296)
(18, 158) (246,409) 4, 157,399
117,836
Endowment Fund
4,421,966
Total of funds
4,523,928
156, 170
(158, 454) (246, 409) 4,275, 235
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
Unrestricted Endowment
funds
funds
2024
2024
Total
funds
2024
Fixed asset investments
CLfrrent assets
Creditors due within one year
4,288,088
48,111
(4,655)
4,288,088
181,399
{14,477)
133,288
(9,822)
118,811
4,336,199
4,455,010
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricled Endowment
funds
funds
2023
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due within one year
4, 149,572
12,481
(4, 654)
4, 149,572
145,272
(19,610)
132, 791
(14, 955)
117,836
4, 157,399
4, 275, 234
Page 21

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
15. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
Net incomel(expenditure) for the year (as per Statement of Financial
Activities)
179,775
(248, 693)
Adjustment for:
(Gain) I loss on investments
Decrease in creditors
(194,960)
{5,132)
246,409
(10, 952)
Net cash used In operating actlvities
(20,317}
(13,236)
16. ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2023
Cash in hand
181,399
145,272
Total
181,399
145,272
17. RELATED PARTY TRANSACTIONS
The professional trustees, Mr K Jones, Chartered Accountant and Mr H M S Barrett, Solicitor. are
expressly authorised to charge fees in the Trust instrument.
Mr H M S Barrett is a consultant with Furley Page, the solicitors to the charity for the year. Mr K Jones is a
partner at Burgess Hodgson, Chartered Accountants.
The total fees payable to Furley Page in the year amounted to £14,444 {2023: £5.580). The total fees
payable to Burgess Hodgson amounted to £7,314 {2023'. £7,250).
No reimbursement of expenses apart from these fees have been made or is due to be made to either
of the Trustees in respeGI of the year under review.
During the year, no trustees received any benefits in kind {2023 - £NIL).
At the year end. the charity owed the followed balances..
Furley Page.. £855 (2023.. £Nil)
Burgess Hodgson: £4,800 {2023: £7,250).
Page 22

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18.
Donatlons to registered charities
2024
2023
AGtion Aid for Animals
African Childrens Fund
Alex the Leukodystrophy Charity
Animal SOS Sri Lanka
Animals Asia Foundation
Animal Antics
Bels Brucha
Braille Chess Association
Breaking Barriers
Brecon and District Disabled Club
Brent Lodge Bird & Wildlife Trust
British Red Cross
British Heart Foundation
Catching Lives
Castle Point Social Care Scheme Limited
Cavernoma Alliance UK
Chailey Heritage Foundation
Charity Buddy
Childrens Hospital Pyjamas
Children of the Making
Childrens Burns Trust
Childrens Hospital Pyjamas
Conservation Without Borders
City Gate Community Projects
Clean Rivers Trust
Clothing Solutions
Criminon UK
Cued Speech UK Limited
Dame Vera Lynn Childrens Charity
Disasters Emergency Committee
Duchenne UK
Ezra Umarpeh
Facing the World
Fight Against Blindness
Four Paws
Fetcher Dog
Food Lifeline
Freedom Kit Bags
Goodlife Rescue
Handicaps International Ltd
Home Start
Hope for the Future
Horizons (Plymouth)
Hot Line Meals Service (London)
Hour Community
Impact
International Animal Rescue
IT Schools Africa
Kent AirAmbulance
Kent Mining Heritage Foundation
Kent MS Therapy Centre
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
3,000
2,000
2,000
2,000
1,500
2,000
2,000
2,000
2,000
1,000
2,000
2,000
1,500
2,000
1,500
2,000
2,500
2,000
2,000
2,000
2,000
2,000
3,000
2,000
2,500
2,000
2,000
2,000
2,000
2.000
2,000
2, 000
1,500
2,000
2,000
2,000
Page 23

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Little Village
Linking Environment and Farms
Little Lifts
London Wheelchair Rugby Club
Lotus Flower Trust
MACS
MADM
Maiden City Soccer Academy
Malaika Kids UK
Masl Cell Action
Medecins San Frontiere
Mount Noddy Animal Centre
Mummys Star
National Literacy Trust
Nightingales Childrens Project
Nowzad
NSPCC Ukrainian Aid
On Course Foundalion
Oxfam Ukraine Humanitarian Appeal
Pat Macks
People's Trust for Endangered Species
Plan International
Play Action International
Porchlight
Porridge & Pens
Prisoners Education Trust
Prostate Cancer UK
Raising Fulures Kenya
Raw Workshop
Resolve Now
Romney Resource 2000 Ltd
Sanitation First Limited
Save the Children
Secret World Wildlife Rescue
Serendip Children's Home
Send a Cow
Side by Side
Sofa Projecl
Sparks of Hope
Standout Programme
Sudden Productions
Thanet Trust
The Anne Robson Trust
The British Red Cross Society
The Canterbury Dictirct Cab
The Food Chain {UK) Limited
The Happy & Healthy Trust
The Just a Drop Appeal
The Migraine Trust
The Move Partnership
The Pituitary Foundation
The Save the Children Fund
The Smile Train UK
The Trussell TrLFSt
Tourette Syndrome (UK)
Tunbridge Wells Counselling Centre
Village Water Limited
2,000
2, 000
1, 500
2, 000
2, 000
3,000
2,000
2,000
2,500
2,000
3,000
2,000
2,000
1,500
2,000
2,000
2,000
2,000
2,000
2,000
1,500
2,000
1,500
2,000
2,000
1,500
2,000
2,000
3,000
1,500
2,000
2,000
2,000
2,000
3,000
2,000
2,000
3,500
2,000
1,000
2,000
2,000
2,000
1,500
3,000
3,000
1,500
1,500
2,000
Page 24

R G HILLS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Viva Network
War Child
WasteAid
Wellbeing of Women
Wetherbys Support of the Elderly
Whale and Dolphin Conservation
Women's Aid Federation of England
Young & Inspired Ltd
Youth on the Move London
Other
2,000
3, 000
2,000
2,000
2, 000
2, 000
2,000
2,000
2,000
110
1, 500
Total
124,110
120, 000
Page 25