2023-04-05-accounts - Herbertpur Trust

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Herbertpur Trust

Report and Financial Statements Year Ended: 5 April 2023

Charity no: 1032307

Herbertpur Trust

Contents	Page
Legal and Administrative Information	1
Report of the Trustees	2
Report of the Independent Examiner	4
Statement of Financial Activities	5
Balance Sheet	6
Notes Forming Part of the Financial Statements	7 - 11

Herbertpur Trust

Legal and Administrative Information

Trustees: Mr P East

Mrs P R Coole Mrs K Tanswell Mrs R H McKemey Mr M Morgan Mrs R M Lehmann Ms V Harland (appointed 5th January 2023)

Charity number: 1032307

Registered office: 2 Lillie Road

Biggin Hill Kent TN16 3QB

Independent examiner: A J Bennewith FCA, FCPA, FFA, FFTA, DChA, FIPA, FRSA 3 Wey Court Mary Road Guildford Surrey GU1 4QU

Page 1

Herbertpur Trust

Report of the Trustees for the Year Ended 5 April 2023

The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. The trustees have adopted the provisions of the 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 2015.)

Reference & Administrative details

All general information relating to the Herbertpur Trust can be found on page 1.

Structure, Governance, & Management

The charity, which is a registered charitable unincorporated association, is governed by a trust deed dated 7 December 1938, as amended by a deed dated 28 May 2014.
The charity is controlled by the trustees.
All trustees are appointed when necessary and are given sufficient training on appointment.

Objectives & Activities

The Trustees have considered the Charity Commission's Guidance on public benefit.

The short and long-term aim of the charity is to continue the running of the Herbertpur Trust to foster such religious and charitable purposes as the Trustees shall from time to time in their absolute discretion, think fit, including Scripture distribution and teaching, missionary training and welfare, medical and humanitarian relief.

The Trustees normally meet twice in a year to review the work of the charity; to make decisions regarding management of resources and to make distributions in order to fulfil the objects.

Achievements & Performance

A decision was made to support building works for staff accommodation at Herbertpur Hospital. In accordance with this some investment accounts have been closed and funds are being sent to the hospital.

Because of the complexity, delays and dangers of moving such a large sum to Herbertspur hospital it is being sent in smaller amounts. A total of £60,000 was sent during the year, with £80,000 remaining to be sent. There were considerable delays in receipt of the payments sent during the year.

Plans for Future

In the future the Charity plans to continue to carry out its current objects and activities, whilst being sensitive to humanitarian and medical needs arising from natural and other disasters.

Financial Review

The results for the year are as set out in the annexed Statement of Financial Activities.

The trustees consider that there are sufficient reserves. Any possible risks have been considered and taken into account in future budgets.

Statement of Trustees' Responsibilities

Law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true

select suitable accounting policies and then apply them consistently;
observe the methods and the principles of the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting policies have been followed, subject to any departures disclosed and
explained in the accounts; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue to operate.

Page 2

Herbertpur Trust

Report of the Trustees for the Year Ended 5 April 2023

The Trustees are responsible for keeping proper accounting records which 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detections of fraud and other irregularities.

Approved by the trustees on …...................................................

And signed on their behalf by:

M Morgan Trustee

Page 3

Herbertpur Trust

Report of the Independent Examiner

Independent examiner's report to the trustees of Herbertpur Trust

I report to the charity trustees on my examination of the accounts of the Herbertpur Trust (the Trust) for the year ended 5 April 2023.

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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

A J Bennewith FCA, FCPA, FFA, FFTA, DChA, FIPA, FRSA

3 Wey Court Mary Road Guildford Surrey GU1 4QU

Date : …........................................

Page 4

Herbertpur Trust

Statement of Financial Activities

for the Year Ended 5 April 2023

Unrestricted Funds £ Notes 23,380 5 8,624 128 32,131 6 64,560 7 4,546 69,106 4 - 9 - (36,974) 21,294 (15,680)	Restricted Funds £ - - - - - - - - - - -	Total Funds 2022 £ 4,870 7,694 837
		13,401 3,000 3,564
		6,564 - 8,020
		14,857 279,453
(15,680)	-	£294,310

The statement of financial activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing activities.

Page 5

Herbertpur Trust

Fixed asset investments Current assets Cash at bank Debtors Current liabilities Creditors: amounts falling due within one year Net current assets Funds Endowment funds Restricted funds Unrestricted funds	Notes 9 2 3 4	Unrestricted Restricted Funds Funds 2023 2023 £ £ - - (14,368) - 452 - (13,916) - 1,764 - 1,764 - (15,680) - (15,680) - £ Balance Sheet as at 5 April 2023	Unrestricted Restricted Funds Funds 2023 2023 £ £ - - (14,368) - 452 - (13,916) - 1,764 - 1,764 - (15,680) - (15,680) - £ Balance Sheet as at 5 April 2023	Endowment Fund 2023 £ 146,146 110,639 - 110,639 - - 110,639 256,785 £	Total Funds 2023 £ 146,146 96,271 452 96,723 1,764 1,764 94,959 241,105 £ 256,785 - (15,680) 241,105 £	Total Funds 2022 £ 238,395 43,703 13,892
			Unrestricted Funds 2023 £ - (14,368) 452 (13,916) 1,764 1,764 (15,680) (15,680)
						57,595 1,680
						1,680 55,915
						294,310 £
						273,016 - 21,294
						294,310 £

Approved by the trustees and signed on their behalf by:

M Morgan- Trustee

Date: …...........................................

Page 6

Herbertpur Trust

Notes Forming Part of the Financial Statements for the Year Ended 5 April 2023

1. Principal accounting policies

a. Accounting convention

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 2015)', Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 2011 and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

b. Income

Voluntary income is received in cash by way of donations and is included in full in the statement of financial activities as soon as it is received. Tax reclaimable in respect of gifts and donations is included along with the gift aid or covenanted income to which it relates.

c. Expenditure Items of expenditure are included in the statement of financial activities in the period to which they relate.

d. Fixed asset investments

Investments are stated at market value. Changes in value are reported in the "Gains and losses" section of the Statement of Financial Activities.

Listed investments are dealt on a recognised Stock Exchange.

e. 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 the funds are raised for particular restricted purposes.

Expendable endowment funds can be spent or applied at the trustees' discretion in accordance with the charity's objectives. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. 3.	Debtors Quilter - cash balance Dividends Income tax recoverable Creditors: amounts falling due within one year Accountancy	2023 £ 362 - 90 452 £ 2023 £ 1,764 £	2022 £ 13,055 - 837
			13,892 £
			2022 £ 1,680 £

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Herbertpur Trust

4. Funds

Income Expenditure Transfers between funds Net movement in funds Gains/(losses) on investments Balance brought forward at 6.4.22 Balance carried forward at 5.4.23	Capital Funds Expendable Endowment Fund £ - - - - - (16,231) (16,231) 273,016 256,785	Unrestricted Funds Unrestricted General Fund £ 32,131 (69,106 ) (36,974) - (36,974) - (36,974) 21,294 (15,680)	Total Funds £ 32,131 (69,106 )
			(36,974) -
			(36,974) (16,231)
			(53,205) 294,310
			241,105

Purpose of individual funds

Expendable Endowment Fund

These funds arose upon settlement of the Trust and subsequent donations. The trustees are of the opinion that this is an Expendable Endowment and that they are able to convert the endowment funds into income.

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Herbertpur Trust

5. 6. 7	Investment income Unrestricted Funds £ Bank, building society and brokers' interest 328 Dividends 5,257 Loan stock interest 896 Unit trust interest 2,143 8,624 £ Expenditure on direct charitable activities: Unrestricted Funds Grants £ Herbertpur Hospital- In-patient complex 60,000 Kiku Trust re Hammed (India) - Emma Stewart Medical Training 2,500 Children's Camp 2,060 64,560 £ Expenditure on management & administration: Unrestricted Funds Support costs £ Accountancy 1,764 Investment management fees 2,440 Bank charges 122 Sundries 220 4,546 £	Restricted Funds £ - - - - - £ Restricted Funds £ - - - - - £ Restricted Funds £ - - - - - £	Total 2023 £ 328 5,257 896 2,143 8,624 £ Total 2023 £ 60,000 - 2,500 2,060 64,560 £ Total 2023 £ 1,764 2,440 122 220 4,546 £	Total 2022 £ 6 4,667 761 2,260
				7,694 £
				Total 2022 £ - 3,000 - -
				3,000 £
				Total 2022 £ 1,680 1,787 97 -
	Support costs Accountancy Investment management fees Bank charges Sundries
				3,564 £

All of the support costs relate to the one charitable activity specified in note 6.

Page 9

Herbertpur Trust

8 9	Net income/(expenditure) Net income/(expenditure) is stated after charging: Independent Examination fee Fixed asset investments Market value at 6 April 2022 Purchase cost of new shares Sale proceeds from sale of rights and other disposals Gain/(loss) in year Market value at 5 April 2023	2023 £ 1,764	2022 £ 1,680
			£ 238,395 23,838 (99,856) (16,231)
			£146,146

10 Trustees' remuneration and expenses

During the year no remuneration or expenses were paid to the trustees (2022: £nil).

11 Related party transactions

The charity is controlled by the trustees. There were no related party transactions during the year (2022: £nil.)

12 Charitable Commitments

This year there were no specific charitable commitments (2022: £nil).

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Herbertpur Trust

13 Comparatives for the Statement of Financial Activities

Unrestricted Funds £ 4,870 7,694 837 13,401 3,000 3,564 6,564 - - 6,837 14,457	Restricted Funds £ - - - - - - - - - - -	Total Funds 2022 £ 4,870 7,694 837
		13,401 3,000 3,564
		6,564 - 8,020
		14,857 279,453
£21,294	-	£294,310

Page 11