Charity Number: 1038566
## **HUGHES TRAVEL TRUST**
## **TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS**
## **31 AUGUST 2025**
Wilson Partners Limited Chancery House, 30 St Johns Road, Woking, Surrey GU21 7SA
**HUGHES TRAVEL TRUST**
**Page 1**
**TRUSTEES’ ANNUAL REPORT for the year ended 31 August 2025**
__________________________________________________________________________________________
The trustees present their report along with the financial statements of the charity Hughes Travel Trust (referred to as “the Trust”) for the year ended 31 August 2025. The comparative period was the year ended 31 August 2024.
The financial statements comply with 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 (FRS 102) (effective 1 January 2019).
## **REFERENCE AND ADMINISTRATIVE DETAILS**
The trustees of the charity, who have held office since 1 September 2024 except where noted, are as follows:
C D Parsons A Turner A Paterson (resigned 03/04/2025) A Diffey (appointed 03/04/2025)
The principal address of the charity is the offices of Hughes Travel Trust at Chancery House, 30 St Johns Road, Woking, Surrey, GU21 7SA. The charity is registered under the charity number 1038566.
The trustees have made the following professional appointments:
Solicitor: Farrer & Co LLP, 66 Lincoln’s Inn Fields, London WC2A 3LH Accountant: Wilson Partners Limited, Chancery House, 30 St Johns Road, Woking, Surrey GU21 7SA Bankers: Lloyds TSB, 73-75 High Street, Staines, Middlesex TW18 4PP
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Status & History**
Hughes Travel Trust was originally set up as a trust under a deed dated 1 June 1994 and became a registered charity on 13 June 1994. The charitable trust is governed by the rules and regulations set down in its original trust deed dated 1 June 1994.
## **Organisational Structure**
The overall strategic direction of the Trust is determined by the trustees, who are also responsible for the day-today management of the charity. The trustees work closely together, holding meetings as needed and otherwise keeping in touch with one another through informal discussions that take place either face to face, over the telephone, or by e-mail.
## **Sub-Committees**
The Trust does not currently use sub-committees of the board of trustees to assist in the management of the charity
**HUGHES TRAVEL TRUST**
**Page 2**
**TRUSTEES’ ANNUAL REPORT for the year ended 31 August 2025**
__________________________________________________________________________________________
## **Method of Recruitment, Induction & Training of Trustees**
## _Recruitment_
Where additional or replacement trustees are needed, the existing trustees will draw up a short list of competent, experienced persons. This is assessed by reference to personal business experience, current trusteeships and any known expertise. References from impartial experienced elders among the Brethren are sought.
## _Induction & Training_
Trustee induction is provided in a meeting through a presentation by the existing trustees setting out the following:
- The objectives of the Trust;
- The terms of the trust deed;
- The charitable nature of the Trust’s activities;
- Office procedures and responsibilities;
- Trustee duties;
- Details of the exact role that the new trustee is expected to fulfil; and
- An assessment of any additional training that may be required.
Additional training is provided either by one of the existing trustees or is outsourced where necessary.
## **Policy for remunerating key management personnel**
The trustees who are the key management personnel manage the day to day operations of the trust. They receive no remuneration.
## **Risk & Governance Matters**
The trustees are generally risk averse and will try wherever possible to ensure that the Trust fulfils its charitable objectives with a minimum possible exposure to risk.
The trustees are continuing to document the charity’s risk profile and to formalise their approach to risk management. They have already taken significant steps to address key financial risks through updated systems and controls.
**HUGHES TRAVEL TRUST**
**Page 3**
**TRUSTEES’ ANNUAL REPORT for the year ended 31 August 2025**
__________________________________________________________________________________________
## **Trustees’ Responsibilities in the Preparation of Financial Statements**
The trustees are responsible for preparing the trustees’ annual 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 trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 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.
## **OBJECTIVES AND ACTIVITIES**
## **Charitable Objectives**
The charitable objectives for which the charity was established are the relief of poverty and sickness and the advancement of religion amongst the Brethren.
## **Charitable Activities**
The trustees continually review how the trust can best further its charitable objective, namely “The relief of poverty and sickness and the advancement of religion amongst the Brethren.”
## **Grant Making Policy**
Hughes Travel Trust is not primarily a grant making charity, however specific requests for funding and assistance is considered on a case-by-case basis by the trustees, who make the final decision regarding the giving of any grants.
## **Representation on Other Bodies**
The Trust does not currently pursue its charitable objectives through representation on any other bodies.
**HUGHES TRAVEL TRUST**
**Page 4**
**TRUSTEES’ ANNUAL REPORT for the year ended 31 August 2025**
__________________________________________________________________________________________
## **OBJECTIVES AND ACTIVITIES (Continued)**
## **Public Benefit**
The trustees have taken The Charity Commission’s specific and general guidance on public benefit (contained within the guidance publication “The Advancement of Religion for the Public Benefit” and with the revised guidance publication “Charities and Public Benefit”) into consideration when reviewing their aims and objectives, and in planning their future activities.
## **FINANCIAL REVIEW**
## **Financial Results of Activities & Events**
The Trust generated total incoming resources of £30,391 (Year ended 31 August 2024: £120,328) and expended resources of £61,430 (Year ended 31 August 2024: £105,791), principally in respect of providing funding to support travel costs to aid the religious purposes of the Brethren and making grants to charitable institutions.
## **Future developments**
In 2024/2025 the trustees reviewed how the trust can best further its charitable objective, namely “The relief of poverty and sickness and the advancement of religion amongst the Brethren”, the charity will continue to provide funding to support travel costs and make grants to charitable institutions.
## **Grant Making**
In 2024/2025, the Trust gave £nil in grants (2023/24: £nil) to charitable institutions, see note 4.
## **Fundraising**
The Trustees take their responsibility under the Charities (Protection and Social Investment) Act 2016 seriously and have considered the implication on their activities. The charity does not actively raise funds or solicit donations directly from the general public. The Charity does not work directly with commercial sponsors in relation to fundraising. The Trustees are not aware of any complaints made in respect of fundraising during the period.
## **Reserves Policy**
The “free reserves” (general unrestricted fund less fixed assets) of the Charity at 31 August 2025 amounted to £1,768,739 (31 August 2024: £1,799,778).
It is the trustees’ view that it is prudent to maintain that accumulated level of free reserves.
**HUGHES TRAVEL TRUST**
**Page 5**
**TRUSTEES’ ANNUAL REPORT for the year ended 31 August 2025**
__________________________________________________________________________________________
## **FINANCIAL REVIEW (Continued)**
## **Investments Policy**
The trustees are empowered to invest any money that the Trust does not immediately need in such a manner as they may determine. In practice, the trustees historically held the Trust’s “free reserves” as cash in interest bearing bank accounts to ensure that sufficient liquidity is maintained and to maximise returns upon those cash funds in the short term.
The trustees are considering options to diversify their investments and seeking prudent investments to generate a return on the reserves whilst in this period of reflection.
During 2024/2025, the Trust’s “free reserves” held as cash generated investment income of £28,999 (2023/2024: £36,166).
This report was approved by the trustees on 12 May 2026 and was signed for and on behalf of the board by
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**Page 6**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF HUGHES TRAVEL TRUST**
__________________________________________________________________________________________
## **Independent examiner’s report to the trustees of Hughes Travel Trust**
I report to the charity trustees on my examination of the accounts of Hughes Travel Trust (the Trust) for the year ended 31 August 2025.
## **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 examiners 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:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did 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.
- the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
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Andrew Carpenter Wilson Partners Limited Chancery House 30 St Johns Road Woking, Surrey GU21 7SA
Date: 12 May 2026
**HUGHES TRAVEL TRUST**
**Page 7**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 August 2025**
__________________________________________________________________________________________
|||||**Total for**|**Total for**|
|---|---|---|---|---|---|
|||||**the year**|**the year**|
|||||**ended**|**ended**|
|||**Unrestricted **|**Restricted**|**31 August**|**31 August**|
||**Notes**|**funds**|**funds**|**2025**|**2024**|
|**INCOME**||||||
|Donations|1|1,392|-|1,392|886|
|Investment income|2|28,999|-|28,999|36,166|
|**Income from charitable activities**||||||
|Provision of travel arrangements to aid the||||||
|religious purposes of the Brethren|3|-|-|-|83,276|
|||______________________________|||________|
|**TOTAL INCOME**||30,391|-|30,391|120,328|
|**EXPENDITURE**||||||
|**Charitable activities**||||||
|Provision of travel arrangements to aid||||||
|the religious purposes of the Brethren||-|-|-|83,275|
|Grants given|4|-|-|-|-|
|Other|5|61,430|-|61,430|22,516|
|||______________________________|||________|
|**TOTAL EXPENDITURE**||61,430|-|61,430|105,791|
|||______________________________|||_______|
|**NET INCOME AND NET MOVEMENT**||||||
|**IN FUNDS**||(31,039)|-|(31,039)|14,537|
|**RECONCILIATION OF FUNDS**||||||
|Fund balances brought forward||||||
|at 1 September 2024||1,799,778|-|1,799,778|1,785,241|
|||______________________________|||_______|
|**FUND BALANCES CARRIED FORWARD**||||||
|**AT 31 August 2025**|9|1,768,739|-|1,768,739|£ 1,799,778|
|||===========================|||=======|
The net movement in funds for the year arises from the charity’s continuing activities.
**HUGHES TRAVEL TRUST**
**Page 8**
## **TRUST BALANCE SHEET as at 31 August 2025**
__________________________________________________________________________________________
**----- Start of picture text -----**
|||||
|---|---|---|---|
|31 August|31 August|
|Notes|2025|2024|
|CURRENT ASSETS|
|Debtors|7|141|165,348|
|Cash at bank and in hand|1,774,598|1,656,791|
|________1,774,739|1,822,139_______|
|CURRENT LIABILITIES|
|Creditors: Amounts falling due within one year|8|6,000|22,361|
|________|________|
|NET CURRENT ASSETS|1,768,739|1,799,778|
|TOTAL ASSETS LESS CURRENT LIABILITIES|________1,768,739|1,799,778________|
|________|________|
|NET ASSETS|£ 1,768,739|£ 1,799,778|
|=======|=======|
|THE FUNDS OF THE CHARITY|
|Unrestricted income funds|
|General Fund|10|1,768,739|1,799,778|
|________|_______|
|TOTAL CHARITY FUNDS|10|£ 1,768,739|£ 1,799,778|
|=======|=======|
**----- End of picture text -----**
The financial statements on pages 7 to 14 were approved by the trustees and authorised for issue on 12 May 2026, and are signed on their behalf by
**----- Start of picture text -----**
|||
|---|---|
|������������������������������������|������������������������������������|
|……………………………………………………|……………………………………………………|
|C D Parsons|A Turner|
|Trustee|Trustee|
**----- End of picture text -----**
**Page 9**
## **HUGHES TRAVEL TRUST**
## **Financial statements for the year ended 31 August 2025**
## **ACCOUNTING POLICIES**
__________________________________________________________________________________________
## **BASIS OF ACCOUNTING**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition – October 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Charity constitutes a public benefit entity as defined by FRS102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future whilst they reflect on how best to further the charitable objective of the trust. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **INCOME**
Grants, donations and other similar types of voluntary income are brought into account when there is entitlement, except that donated income is included gross of any attributable tax recoverable, where relevant. Donations given for specific purposes are treated as restricted income.
All other types of income are also accounted for on an accruals basis.
## **EXPENDITURE**
Expenditure is allocated to the charity’s principal activities where the costs can be identified as being directly related to that activity. All costs that cannot be identified as relating directly to the charity’s principal activities are categorised as either support costs or governance costs. Any costs that cannot be specifically categorised are allocated in proportions based upon a suitable ratio applicable to the nature of the cost involved.
Governance costs include the costs of maintaining the charity as a legal entity such as audit fees, costs of trustees meetings and other costs incurred complying with statutory requirements.
Grants payable are recognised in the period in which the approved offer is conveyed to the recipient except in those cases where the offer is conditional and the conditions are under the charity’s control, such grants being recognised only when the conditions attaching to the award are fulfilled. Grants offered subject to such conditions, which have not been met at the balance sheet date, are noted as a potential commitment, but are not treated as a liability.
## **FOREIGN CURRENCIES**
Transactions denominated in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date. All exchange gains or losses are included in the statement of financial activities in the period to which they relate.
**HUGHES TRAVEL TRUST**
**Page 10**
## **Financial statements for the year ended 31 August 2025**
## **ACCOUNTING POLICIES**
__________________________________________________________________________________________
## **FUND ACCOUNTING**
The general fund comprises the accumulated surpluses of unrestricted incoming resources over resources expended, which are available for use in furtherance of the general objective of the charity.
Designated funds are a particular form of unrestricted funds consisting of amounts, which have been allocated or designated for specific purposes by the trustees. The use of designated funds remains at the discretion of the trustees.
Restricted funds are funds subject to specific conditions imposed by donors. The purpose and use of the restricted funds are set out in the notes to the accounts. Amounts unspent at the year end are carried forward in the balance sheet.
## **FINANCIAL INSTRUMENTS**
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Financial instruments are recognised in the charity’s statement of financial position when the charity becomes party to the contractual provisions of the Instrument.
## _Basic financial instruments_
Basic financial instruments are recognised initially in the accounts at transaction price, including any transaction costs. At the end of each accounting period, basic financial instruments are recognised at amortised cost. For debt instruments this is calculated using the effective interest rate method.
**HUGHES TRAVEL TRUST**
**Page 11**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025**
|__________________________________________________________________________________________|__________________________________________________________________________________________|__________________________________________________________________________________________|__________________________________________________________________________________________|__________________________________________________________________________________________|__________________________________________________________________________________________|
|---|---|---|---|---|---|
|||||**Total for**|**Total for**|
|||||**the year**|**the year**|
|||||**ended**|**ended**|
|||**Unrestricted **|**Restricted**|**31 August**|**31 August**|
|||**funds**|**funds**|**2025**|**2024**|
|1.|**DONATIONS**|||||
||Donations and other similar income|£ 886|-|£ 886|£ 886|
|||============================|||======|
|2.|**INVESTMENT INCOME**|||||
||Bank interest receivable on short term|||||
||cash deposits|28,999|-|28,999|36,166|
|||_______________________________|||_______|
|||£ 28,999|-|£ 28,999|£ 36,166|
|||============================|||======|
|3.|**INCOME FROM THE PROVISION OF**|||||
||**TRAVEL ARRANGEMENTS**|||||
||Travel arrangement income|-|-|-|83,276|
|||_______________________________|||________|
|||£ -|-|£ -|£ 83,276|
|||============================|||=======|
|||||**Total for**|**Total for**|
|||||**the year**|**the year**|
|||||**ended**|**ended**|
|||**Unrestricted **|**Restricted**|**31 August**|**31 August**|
|||**funds**|**funds**|**2025**|**2024**|
|4.|**GRANTS GIVEN**|||||
||Grants given to institutions:|||||
||Gospel Hall Trusts|-|-|-|-|
|||_____________________________|||_______|
|||£ -|-|£ -|£ -|
|||==========================|||=======|
**HUGHES TRAVEL TRUST**
**Page 12**
**NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025**
__________________________________________________________________________________________
||||**Total for**|**Total for**|
|---|---|---|---|---|
||||**the year**|**the year**|
||||**ended**|**ended**|
||**Support **|**Governance **|**31 August**|**31 August**|
||**costs**|**costs**|**2025**|**2024**|
|**SUPPORT & GOVERNANCE COSTS**|||||
|Legal and professional|-|37,582|37,582|-|
|Accountancy and advisory|-|11,310|11,310|7,200|
|Exchange losses/(gains)|124|-|124|-|
|Telephone|1,486|-|1,486|5,131|
|Computer expenses and support|4,810|-|4,810|6,791|
|Motor, travel, room hire and subsistence|5,376|-|5,376|1,658|
|Bank charges|427|-|427|1,221|
|Other office costs|315|-|315|515|
||_______________________________|||_______|
||£ 12,538|£ 48,892|£ 61,430|£ 22,516|
||===========================|||=======|
## 5. **SUPPORT & GOVERNANCE COSTS**
## 6. **STAFF COSTS**
There were no employees in the reporting or previous year.
The trustees received no remuneration for their services to the charity or its subsidiary during the current or previous year. Trustees received reimbursement for expenses incurred on behalf of the charity during the year of £2,713 (2024: £3,940).
During the year the charity settled personal expenditure of £nil (2024: £25,142) on behalf of a former trustee. At the year end the former trustee owed the charity £nil (2024 £44,944). Interest was charged at HMRC’s official rate.
The trustees are the only key management personnel.
## 7. **DEBTORS**
|**DEBTORS**|||
|---|---|---|
||**31 August**|**31 August**|
||**2025**|**2024**|
|Amounts falling due within one year:|||
|Trade debtors|-|39,805|
|Other debtors|141|125,543|
||_______|_______|
||£ 141|£ 165,348|
||======|======|
**HUGHES TRAVEL TRUST**
**Page 13**
**NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025**
**__________________________________________________________________________________________**
## 8. **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||**31 August**|**31 August**|
|---|---|---|
||**2025**|**2024**|
|Amounts falling due within one year:|||
|Trade creditors|-|-|
|Other creditors|-|1,411|
|Accruals|6,000|20,950|
||_______|_______|
||£ 6,000|£ 22,361|
||======|======|
## 9. **THE FUNDS OF THE CHARITY**
|||||**Transfers**||
|---|---|---|---|---|---|
||**1 September**|**Incoming**|**Outgoing**|**between**|**31 August**|
||**2024**|**resources**|**resources**|**funds**|**2025**|
|**Unrestricted income funds:**||||||
|General Fund|1,799,778|30,391|(61,430)|-|1,768,739|
||________|________|________|_______|________|
|**TOTAL FUNDS**|£ 1,799,778|£ 30,391|£ (61,430)|-|£ 1,768,739|
||=======|=======|=======|======|=======|
## 10. **ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|||**Net**|||
|---|---|---|---|---|
||**Fixed**|**current**|||
||**assets**|**assets**|**Provisions**|**Total**|
|**Unrestricted income funds:**|||||
|General Fund|-|1,768,739|-|1,768,739|
||________|________|_______|________|
|**TOTAL FUNDS**|£ -|£1,768,739|-|£ 1,768,739|
||=======|=======|======|=======|
**HUGHES TRAVEL TRUST**
**Page 14**
**NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2025**
__________________________________________________________________________________________
## 11 **. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES**
||||**Total for**|
|---|---|---|---|
||||**the year**|
||||**ended**|
||**Unrestricted**|**Restricted**|**31 August**|
||**funds**|**funds**|**2024**|
|**INCOME**||||
|Donations|886|-|886|
|Investment income|36,166|-|36,166|
|**Income from charitable activities**||||
|Provision of travel arrangements to aid the||||
|religious purposes of the Brethren|83,276|-|83,276|
||__________________________________|||
|**TOTAL INCOME**|120,328|-|120,328|
|**EXPENDEDITURE**||||
|**Charitable activities**||||
|Provision of travel arrangements to aid||||
|the religious purposes of the Brethren|83,276|-|83,276|
|Grants given|-|-|-|
|Other|22,516|-|22,516|
||__________________________________|||
|**TOTAL EXPENDEDITURE**|105,791|-|105,791|
||__________________________________|||
|**NET INCOME AND NET MOVEMENT**||||
|**IN FUNDS**|14,537|-|14,537|
|**RECONCILIATION OF FUNDS**||||
|Fund balances brought forward||||
|at 1 September 2023|1,785,241|-|1,785,241|
||__________________________________|||
|**FUND BALANCES CARRIED FORWARD**||||
|**at 31 August 2024**|1,799,778|-|1,799,778|
||==============================|||