Charity number: 1040579
ee GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
See SRE PRS TS ETS IE A EN PB SAUTE LD SANDS TOE OR DE SET
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
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CONTENTS
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|Reference|and|administrative|details|of the|Charity,|its|Trustees|and|advisers|1|
|Trustees’|report|2-6|
|Independent auditor's|report on|the financial statements|7-10|
|Statement|of financial|activities|11|
|Balance|sheet|12|
|Statement|of cash|flows|13|
|Notes|to|the financial statements|14-29|
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
eS REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
Trustees Chief Constable Stephen Watson QPM, Chairman Diane Hawkins, Lord Lieutenant of Greater Manchester, High Sheriff of Greater Manchester 2021/2022
Sharman Birtles, Vice Lord Lieutenant of Greater Manchester, High Sheriff of Greater Manchester 2015/2016 Mary-Liz Walker, High Sheriff of Greater Manchester 2023/2024 Lorraine Worsley-Carter, High Sheriff of Greater Manchester 2022/2023 Dr Eamonn O'Neal, High Sheriff of Greater Manchester 2020/2021 & 2024/2025 Mark Adlestone, High Sheriff of Greater Manchester 2019/2020 Lady Joy Smith, High Sheriff of Greater Manchester 2016/2017 Jeremy Rayner, Trustee (appointed 1 April 2023)
| Charity registered | |
|---|---|
| number | 1040579 |
| Principal office | TeamNCE - Local Policing and Criminal Justice Branch, 4th Floor |
| GMP Headquarters | |
| Central Park | |
| Northamton Road | |
| Manchester | |
| M40 5BP | |
| Independent auditor | Crowe U.K. LLP |
| 3rd floor | |
| 56 Peter St | |
| Manchester | |
| M2 3NQ | |
| Bankers | UnityTrustBank plc |
| 9 Brindleyplace | |
| Birmingham | |
| B1 2HB | |
| InvestmentAdviserand | InvestecWealth and Investment Limited |
| Managers | 3 Harman Street |
| Manchester | |
| M3 3HF | |
| Torevell & Partners Limited | |
| 5 Oxford Court | |
| Manchester | |
| M23WQ |
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
aaa aaEnnInETRIEIEnnnnaaiiaeee. TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2023 to 31 March 2024.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
The
objects of the Trust are:
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To promote for the public benefit in and around the Greater Manchester area, a safer and increased quality of life through the prevention of crime and protection of people and property from criminal acts.
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2: To secure the advancement of education, for the public benefit, in all matters relating to alcohol, drug and other solvent abuse.
The Trust relies on donations from individuals, commercial organisations and other charities and trusts and returns from investments.
b. Strategies for achieving objectives
The Trustees’ strategy is to further the aims of the Trust and to increase support from the business community with the intention of increasing the income of the Trust so that it has more funds to support its aims.
The Trust has identified four aims to assist its work:
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Improve the quality of life of all communities in the Greater Manchester area, with vulnerable groups and victims of crime being priorities.
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Support wide ranging initiatives that address issues of crime reduction concerning the public and affecting the quality of their lives.
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Support community and race related initiatives arising from locally agreed Crime and Disorder crime reduction strategies, and support initiatives that arise from local consultation identifying concerns outside these strategies.
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Seek to support and complement initiatives that arise from local consultation identifying concerns outside these strategies.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
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————— EET
TRUSTEES’ REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
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Achievements and performance
a. Key performance indicators
The Trust aims to:
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Achieve a breakeven position taking one year into account with another, where income is defined as investment income and income from fundraising and donations. Income amounted to £205,434 expenditure for the year was £313,937, investment gains were £278,871, resulting in a surplus of £170,368 (2023: deficit of £432,495).
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To finalise legacy funding in line with legacy conditions and Charity Commission protocols.
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To increase grant and donation income from trusts, foundations and individuals. During the year the trust received grants and donations of £86,347 (2023: £76,680).
b. Review of activities
The Trustees’ activities are generally conducted in line with previous years. All activities performed have been in line with the charitable objectives of the Trust.
c. Investment policy and performance
Investments are managed by Rathbones Group Plc incorporating Investec Wealth & Investment Limited and Torevell & Partners Limited on a discretionary or advisory basis. Their performance is measured against a range of indices appropriate to the portfolio. The investment policy is to hold marketable securities, both in direct equity holdings and in managed funds quoted on recognised markets, selected by the Investment Managers and Advisers whose details are found on page 1. The objective is to maintain the capital funds in line with or in excess of benchmark (subject to market fluctuations) and to provide income in support of our charitable aims.
The total net return on the Rathbone investment portfolio for the year to 31 March 2024 was +7.33%. The benchmark figures were a gain of 8.60% over the same period.
The total net return on the Torevell & Partners portfolio for this year was a gain of 9.2%, comprising a positive income return of 3.2% and a positive capital return of 6.0%. The FTSE All Share Index and FTSE UK Conventional Gilts All Stocks Index would have provided returns of +3.9% and -3.8% respectively.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
ooo EEE, TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ce
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity sets annual budgets and reviews performance against budget on a quarterly basis, adapting funding commitments as appropriate. A floor on cash reserves of £150,000 is maintained to ensure operational liquidity. As such, the Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Net assets at 31 March 2024 stood at £5,113,470 (2023: £4,943,102) with a surplus for the year including legacy income of £170,368 (2023: deficit of £432,495).
The surplus was £180,254 (2023: deficit of £416,049) on unrestricted funds and a deficit of £9,886 (2023: deficit
of £16,446) on restricted funds.
As the fund assets are principally marketable investments, the change in stock market values has affected the overall investment assets of the funds. The charity is a grant-making Body and is dependent in large part upon changing market forces to deliver its income and realised capital gains to enable it to fund grant applications.
In light of the above, the Trustees do not consider that there will be any material effect on the adoption of the going concern basis of accounting due to the strong asset base and reserves position.
b. Reserves policy
The trustees feel it is appropriate to maintain liquidity of £150,000 to safeguard against an unexpected shortfall in income, whilst meeting any increased level of grant applications, should this become necessary.
The policy is to spend the income arising on investments when taking a balanced view over several years, together with realised gains on sales of assets (when appropriate). At the same time, the Trustees will look to maintain a strong investment base to support future grant funding activities.
The value of cash reserves not invested at the balance sheet date is £226,092 and the Trustees plan to use these reserves with the award of further grants at a projected rate of £30,000 for the current year.
Structure, governance and management
a. Constitution
Greater Manchester High Sheriff's Police Trust is a registered charity, number 1040579, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The Trust is governed by a body of Trustees who have the sole and entire management of the business of the Trust. Trustees are sought in a variety of ways including recommendation from existing trustees or supporters. Potential trustees are scrutinised by the Board of Trustees before being invited to serve.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management (continued)
c. Organisational structure and decision-making policies
Full Board of Trustees’ meetings are held in person every quarter to consider applications for grants, review performance of the Trust, and agree appropriate future actions.
d. Policies adopted for the induction and training of Trustees
The Trust is aware of the need to ensure that all Trustees are adequately trained and are aware of their responsibilities, and review relevant training programmes as appropriate.
e. Financial risk management
The Board of Trustees has assessed the major risks to which the charity is exposed and is constantly reviewing the main areas of risk, with particular reference to the operations and finances of the Charity. The Trustees are satisfied that systems are in place to manage the Trust’s exposure to major risks.
Plans for future periods
The Charity is constantly reviewing its activities to achieve the aims referred to above for the benefit of the Greater Manchester public. Future developments will be determined through the quarterly meetings of the Trustees to ensure that the Charity continues to maximise its impact in relation to making the area safer and enhancing the quality of life for communities through the prevention of crime.
Information on Fundraising Practices
The charity had no fundraising activities requiring disclosure under s162A of the Charities Act 2011.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
[RILE I IE I TE ELSE, TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees’ responsibilities
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 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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° select suitable accounting policies and then apply them consistently;
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e observe the methods and principles of the Charities SORP (FRS 102);
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° make judgments and accounting estimates that are reasonable and prudent;
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° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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° 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 adequate 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.
Disclosure of information to auditor
Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:
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e so far as that Trustee is aware, there is no relevant audit information of which the charity's auditor is unaware, and
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° that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
Auditor
The auditor, Crowe U.K. LLP, has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Sharman Birtles
Date: #@,t¥. Qi
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
Opinion
We have audited the financial statements of Greater Manchester High Sheriff's Police Trust (the ‘charity’) for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting 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:
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° 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;
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° have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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° have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements 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
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST (CONTINUED)
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that 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:
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° the information given in the Trustees’ report is inconsistent in any material respect with the financial statements; or
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° sufficient accounting records have not been kept; or
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° the financial statements are not in agreement with the accounting records and returns; or
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° we have not received all the information 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 the 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 misstatement, whether 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.
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aee GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST eal INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST (CONTINUED)
ja
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with 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 to issue an Auditor's 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 material 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.
Irregularities, 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 irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 legislation.
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience, through discussions with the Trustees, and from inspections of the Charities' board minutes and legal and regulatory correspondance.
We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur, by meeting with management from relevant parts of the business to understand where management considered there was a susceptibility to fraud. We also considered the potential for management to manage earnings and influence the perceptions of the financial statements.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the timing of recognition of income.
Audit procedures performed by the engagement team included:
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° Evaluation of the design of controls established to address the risks related to material irregularities in the financial statements; Testing manual journal entries, in particular journal entries relating to management estimates and entries determined to be large or relating to non-routine transactions.
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° Evaluation of income recognition policies and any judgements made around income recognition; reviewing the income system for significant deficiencies or susceptibility to fraud;
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e Challenging assumptions and judgements made by management in their significant accounting estimates; ° Agreement of the financial statement disclosures to underlying supporting documentation; ° Making enquiries of management; ° Review of minutes of board meetings throughout the period;
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
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18th December 2024
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
oss STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
se
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| Note | £ | £ | £ | £ | |
| Income from: | |||||
| Donations and legacies | 4 | - | 86,347 | 86,347 | 76,680 |
| Investments | 5 | - | 119,087 | 119,087 | 129,607 |
| Total income | - | 205,434 | 205,434 | 206,287 | |
| Expenditure on: | |||||
| Raising funds | 6,7 | - | 46,523 | 46,523 | 50,701 |
| Charitable activities | 10 | 9,886 | 257,528 | 267,414 | 346,842 |
| Total expenditure | 9,886 | 304,051 | 313,937 | 397,543 | |
| . | |||||
| Net expenditure before net gains/(losses)on investments |
(9,886) | (98,617) | (108,503) | (191,256) | |
| Netgains/(losses) on investments | . | 278,871 | 278,871 | (241,239) | |
| Netmovement in funds | (9,886) | 180,254 | 170,368 | (432,495) | |
| Reconciliation offunds: | |||||
| Totalfunds broughtforward | 43,256 | 4,899,846 | 4,943,102 | 5,375,597 | |
| Netmovement infunds | (9,886) | 180,254 | 170,368 | (432,495) | |
| Totalfundscarriedforward | 33,370 | 5,080,100 | 5,113,470 | 4,943,102 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 14 to 29 form part of these financial statements.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
ee
BALANCE SHEET AS AT 31 MARCH 2024
| tS | tS | tS | tS |
|---|---|---|---|
| 2024 | 2023 | ||
| Note | £ | £ | |
| Fixed assets | |||
| Investmenis | 14 | 4,893,292 | 4,645,297 |
| 4,893,292 | 4,645,297 | ||
| Current assets | |||
| Debtors | 15 | 4,346 | 12,668 |
| Cash atbank and in hand | 226,092 | 317,337 | |
| 230,438 | 330,005 | ||
| Creditors: amounts falling due within one year |
16 | (10,260) | (32,200) |
| Net currentassets | 220,178 | 297,805 | |
| Total net assets | 5,113,470 | 4,943,102 | |
| Charityfunds | |||
| Restricted funds | 18 | 33,370 | 43,256 |
| Unrestricted funds | 18 | 5,080,100 | 4,899,846 |
| Totalfunds | 5,113,470 | 4,943,102 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
—_ C 2 Coe s
Sharman Birtles
Date: (@. li. Qo
The notes on pages 14 to 29 form part of these financial statements.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
i STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Cash|flows|from|operating|activities|
|Net cash|used|in|operating|activities|(241,208)|(304,371)|
|Cash|flows|from|investing|activities|
|Dividends,|interests|and|rents from|investments|119,087|129,607|
|Proceeds|from|sale|of investments|30,876|37,338|
|Net cash|provided|by|investing|activities|149,963|166,945|
|Cash|flows|from|financing|activities|
|Net|cash|provided|by financing|activities|=|-|
|Change|in cash|and|cash equivalents|in|the year|(91,245)|(137,426)|
|Cash|and|cash|equivalents|at the|beginning|of the year|317,337|454,763|
|Cash|and|cash|equivalents|at the end|of the year|226,092|317,337|
|The|notes|on|pages|14|to 29 form|part|of these|financial|statements|
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- General information
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
The entity is an unincorporated charity, registed at Charities Commission. Further details can be found in the Reference and Administrative Information page.
2. Accounting policies
- 2.1 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.
Greater Manchester High Sheriff's Police 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.
2.2 Going concern
The charity has a significant level of reserves, investments and cash holdings upon which to operate. As a grant giving organisation, the charity is able to adapt its funding commitments readily. On this basis, the trustees consider the charity to be going concern.
Trustees will continue to monitor the changing market and review budgets accordingly.
- 2.3 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.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
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.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
ECRSa NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.4 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.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs.
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 expenditure.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 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.
2.7 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.
- 2.8 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.
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GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.9 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, andthe 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.
2.10 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.
2.11 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.
Restricted funds are funds which are to be used in accordance with specific restrictions 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 to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Trustees do not consider there to be any critical accounting estimates and assumptions.
eeee ee eee ae ee Page 16
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. Income from donations and legacies
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Restricted|Unrestricted|Total|
|funds|funds|funds|
|2024|2024|2024|
|£|£|£|
|Donations|-|86,347|86,347|
|Restricted|Unrestricted|Total|
|funds|funds|funds|
|2023|2023|2023|
|£|£|£|
|Donations|880|75,800|76,680|
|5.|Investment|income|
|Unrestricted|Total|
|funds|funds|
|2024|2024|
|£|£|
|Investment|income|119,087|119,087|
|Unrestricted|Total|
|funds|funds|
|2023|2023|
|£|£|
|Investment|income|129,607|129,607|
|6.|Expenditure|on|raising|funds|
|Costs|of|raising|voluntary|income|
----- End of picture text -----
Spring ball function
----- Start of picture text -----
|||
|---|---|
|Unrestricted|Total|
|funds|funds|
|2024|2024|
|£|£|
|13,800|13,800|
|Page|17|
----- End of picture text -----
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
6. Expenditure on raising funds (continued)
Costs of raising voluntary income (continued)
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Unrestricted|Total|
|funds|funds|
|2023|2023|
|£|£|
|Christmas|ball|function|13,635|13,635|
----- End of picture text -----
7. Investment management costs
----- Start of picture text -----
||||
|---|---|---|
|Unrestricted|Total|
|funds|funds|
|2024|2024|
|£|£|
|Investment management fees|32,723|32,723|
|Unrestricted|Total|
|funds|funds|
|2023|2023|
|£|£|
|Investment management fees|37,066|37,066|
----- End of picture text -----
8. Analysis of direct expenditure
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Reimburse|
|Grants|to|ment|of|Total|
|Institutions|expenses|funds|
|2024|2024|2024|
|£|£|£|
|Grants,|Crime|reduction|awareness|237,268|11,709|248,977|
----- End of picture text -----
ae een eee na a en
Page 18
|
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. Analysis of direct expenditure (continued)
| Reimbursen | ||||||
|---|---|---|---|---|---|---|
| Grants to | ent of | Total | ||||
| Institutions | expenses | funds | ||||
| 2023 | 2023 | 2023 | ||||
| £ | £ | £ | ||||
| Grants, | Crime | reduction | awareness | 301,823 | 17,486 | 319,309 |
Reimbursement of expenses represent sums expended by the handlers of retired police dogs in their care and incurred to cover third party veterinary and care services and also for food purchased to maintain the dogs’ wellbeing.
Page 19
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Grants to Institutions
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Crime Reduction Grants | ||
| Access Sport | 2,250 | 2,250 |
| Acorn Recovery | 2,500 | 2,500 |
| Aim NW | 2,228 | 2,228 |
| ArmyCadet Force | 5,000 | 5,000 |
| Ashton United in the Community | 3,500 | 3,500 |
| Cookson Cycles Bury Police station | 3,870 | 3,870 |
| Creatingfuture LivesCIC | 3,000 | 3,000 |
| Crimestoppers | 10,000 | 10,000 |
| EconomicCrime UnitGMP | 4,500 | 4,500 |
| Finding Rainbows | 4,000 | 4,000 |
| GMCA | 4,951 | 4,951 |
| GMCAGMP | 3,444 | 3,444 |
| Gorse Hill Studios | 4,000 | 4,000 |
| Grafton Centre | 2,470 | 2,470 |
| Halle Concerts | 3,500 | 3,500 |
| Henshaws | 3,500 | 3,500 |
| M/C Giants Junior Basketball | 4,800 | 4,800 |
| Manleigh CIC | 4,440 | 4,440 |
| MASH | 4,343 | 4,343 |
| MaxTrax | 3,000 | 3,000 |
| NW AirAmbulance | 4,000 | 4,000 |
| Oldham Sea Scouts | 2,500 | 2,500 |
| Once upon a Smile | 4,000 | 4,000 |
| Salford Loaves & Fishes | 3,600 | 3,600 |
| Stockport Canal BoatTrust | 3,200 | 3,200 |
| StockportCounty CommunityTrust | 3,570 | 3,570 |
| The Booth Centre | 3,500 | 3,500 |
| The Fed | 3,900 | 3,900 |
| The Garden House | 2,500 | 2,500 |
| The HelpLine | 2,500 | 2,500 |
| TogetherTrust | 2,780 | 2,780 |
| Trafford Sea cadets | 3,500 | 3,500 |
| Grants £2,000 orunder | 118,422 | 118,422 |
| 237,268 | 237,268 |
Page 20
se e r m
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
eee
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
a
| Unresiricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Crime Reduction Grants | ||
| 8th Bolton Scouts | 3,372 | 3,372 |
| Bolton DeafSociety | 3,516 | 3,516 |
| C+M Lads & Girls | 4,000 | 4,000 |
| Caritas | 3,000 | 3,000 |
| Child SafetyMedia | 3,500 | 3,500 |
| CountyCommunity | 3,328 | 3,328 |
| Crimestoppers | 10,000 | 10,000 |
| Dane Bank Green Space | 2,016 | 2,016 |
| East Leigh Junior Football Club | 3,942 | 3,942 |
| Girls Out Loud | 10,000 | 10,000 |
| GMCA | 4,423 | 4,423 |
| Halle Concerts | 5,000 | 5,000 |
| Henshaws | 3,000 | 3,000 |
| HolyLaw | 5,000 | 5,000 |
| l4YPC | 3,000 | 3,000 |
| JJ Effect CIC | 2,675 | 2,675 |
| Leigh Miners Rangers Rugby | 5,000 | 5,000 |
| Mustard Tree | 5,000 | 5,000 |
| OACT | 5,800 | 5,800 |
| Oldham Boxing | 3,500 | 3,500 |
| Oldham Sea Scouts | 2,400 | 2,400 |
| PioneerCIC | 4,620 | 4,620 |
| Pride Bolton | 2,500 | 2,500 |
| Prison Fellowship | 2,340 | 2,340 |
| ROC | 2,500 | 2,500 |
| Safe and Free | 2,099 | 2,099 |
| Selectamark | 10,981 | 10,981 |
| SMGFL | 4,500 | 4,500 |
| StockportSea Cadets | 2,500 | 2,500 |
| Terence O'GradySocial | 3,500 | 3,500 |
| The Booth Centre | 5,000 | 5,000 |
| The Fed | 4,795 | 4,795 |
| The Garden House | 8,340 | 8,340 |
| The River | 3,000 | 3,000 |
| TogetherTrust | 4,000 | 4,000 |
| Turtle Engineering/Merosworld | 2,550 | 2,550 |
| VeterensintoLogistics | 5,000 | 5,000 |
TTRage21
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| VictoriaComm & Youth Centre | 5,000 | 5,000 |
|---|---|---|
| Walthen House | 4,000 | 4,000 |
| Youth Focus | 3,940 | 3,940 |
| Youth Leads | 4,250 | 4,250 |
| Grants £2,000 or under | 124,936 | 124,936 |
| 301,823 | 301,823 | |
| Total2023 | ee | ee |
10. Analysis of expenditure on charitable activities
Summary by fund type
| Restricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds | funds | Total | |||
| 2024 | 2024 | 2024 | |||
| £ | £ | £ | |||
| Crime | reduction | awareness | 9,886 | 257,528 | 267,414 |
| Restricted | Unrestricted | ||||
| funds | funds | Total | |||
| 2023 | 2023 | 2023 | |||
| £ | £ | £ | |||
| Crime | reduction | awareness | 17,326 | 329,516 | 346,842 |
11. Analysis of expenditure by activities
| Grant | |||||
|---|---|---|---|---|---|
| fundingof | Support | Total | |||
| activities | costs | funds | |||
| 2024 | 2024 | 2024 | |||
| £ | £ | £ | |||
| Crime | reduction | awareness | 248,977 | 18,437 | 267,414 |
Page 22
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
11. Analysis of expenditure by activities (continued)
| Grant | |||||
|---|---|---|---|---|---|
| funding of | Support | Total | |||
| activities | costs | funds | |||
| 2023 | 2023 | 2023 | |||
| £ | £ | £ | |||
| Crime | reduction | awareness | 319,309 | 27,533 | 346,842 |
Analysis of support costs
| Crime | ||
|---|---|---|
| reduction | Total | |
| awareness | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Bank Charges | 134 | 134 |
| Equipment& Repairs | 3,202 | 3,202 |
| Hotel & Travel | 1,877 | 1,877 |
| Sundry | 970 | 970 |
| Marketing & sponsorship | 1,988 | 1,988 |
| Governance costs | 10,266 | 10,266 |
| 18,437 | 18,437 |
| Crime | ||
|---|---|---|
| reduction | Total | |
| awareness | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Bankcharges | 105 | 105 |
| Equipment& Repairs | 1,123 | 1,123 |
| Hotel & Travel | 3,010 | 3,010 |
| Sundry | 3,545 | 3,545 |
| Marketing &sponsorship | 10,000 | 10,000 |
| Governance costs | 9,750 | 9,750 |
| 27,533 | 27,533 |
Page 23
ia a ne GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
SNe
rE ——————— cca,
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NN
12. Auditor's remuneration
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Fees|payable|to the|Charity's|auditor for the|audit of the|Charity's|annual|
|accounts|9,350|8,900|
|Fees|payable to the|Charity's|auditor|in|respect|of:|
|Auditor remuneration|- accounts|910|850|
----- End of picture text -----
13. Trustees’ remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
14. Fixed asset investments
----- Start of picture text -----
|||||
|---|---|---|---|
|Listed|
|investments|
|£|
|Cost|or valuation|
|At|1|April 2023|4,645,297|
|Disposals|(30,876)|
|Revaluations|278,871|
|At 31|March 2024|4,893,292|
|Net|book|value|
|At 31|March|2024|4,893,292|
|At 31|March|2023|4,645,297|
----- End of picture text -----
NN Page 24
i
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
TT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ee eS
15. Debtors
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Due|within|one|year|
|Other debtors|-|12,168|
|Prepayments|and|accrued|income|4,346|500|
|4,346|12,668|
|Creditors:|Amounts|falling|due|within|one|year|
|2024|2023|
|£|£|
|Trade|creditors|-|22,450|
|Accruals|and|deferred|income|10,260|9,750|
|10,260|32,200|
----- End of picture text -----
16. Creditors: Amounts falling due within one year
17. Financial instruments
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Financial|assets|
|Financial|assets|measured|at amortised|cost|226,092|316,630|
|2024|2023|
|£|£|
|Financial|liabilities|
|Financial|liabilities|measured|at amortised|cost|10,260|9,750|
----- End of picture text -----
Financial assets measured at amortised cost comprise cash at bank and other debtors.
Financial instruments measured at amortised cost comprise accruals.
a Page 25
ee
i
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
an eee ee ee ee eee ee ee ee ee ———————————————————————EE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
epa
18. Statement of funds
Statement of funds - current year
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|Balance|at|
|Balance at|1|Gains/|31|March|
|April|2023|Income|Expenditure|(Losses)|2024|
|£|£|£|£|£|
|Unrestricted funds|
|General|Funds-|all|funds|4,899,846|205,434|(304,051)|278,871|5,080,100|
|Restricted|funds|
|John|Armstrong|Welch|
|Memorial|Garden|3,130|-|.|.|3,130|
|Bessie|Walker|Bequest|-|Police|
|Dogs|33,143|-|(9,886)|-|23,257|
|Young|Citizens Award|6,983|-|.|-|6,983|
|43,256|-|(9,886)|-|33,370|
|Total|of funds|4,943,102|205,434|(313,937)|278,871|5,113,470|
----- End of picture text -----
NN Page 26
a
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
i. eee ————————————————————a, NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 i RS
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|18.|Statement|of funds|(continued)|
|Statement|of funds|-|prior year|
|Balance|at|
|Balance|at|Gains/|31|March|
|1|April 2022|Income|Expenditure|(Losses)|2023|
|£|£|£|£|£|
|Unrestricted|funds|
|General|Funds-|all funds|5,315,895|205,407|(380,217)|(241,239)|4,899,846|
|Restricted|funds|
|John|Armstrong|Welch|
|Memorial|Garden|3,130|-|-|-|3,130|
|Bessie Walker|Bequest|-|Police|
|Dogs|49,205|-|(16,062)|-|33,143|
|B|Schreiber|Retired|Police|Dog|
|Food|Fund|-|880|(880)|-|-|
|Young|Citizens Award|7,367|-|(384)|-|6,983|
|59,702|880|(17,326)|-|43,256|
|Total|of funds|5,375,597|206,287|(397,543)|(241,239)|4,943,102|
----- End of picture text -----
B Schreiber Retired Dog Food Fund The fund allows for the provision of dog food up to the value of £180 to retired police dogs still in the care of their handler.
Bessie Walker Bequest - Police Dogs A specific request was made to make provisions for the upkeep and well-being of retired police dogs by their handlers who are current or were former Greater Manchester Police Officers and to enable equipment to be purchased for the benefit of the police dog unit for items outside the agreed Greater Manchester Police budget.
Young Citizens Awards An awards ceremony sponsorship funding the annual event created to reward the exceptional commitment of young people to social action, community engagement and philanthropy across Greater Manchester.
John Armstrong Welch Memorial Garden The John Armstrong Welch Memorial Garden was funded by the late Senior Police Officer's Family, who wish to perpetuate their relative's memory.
Spend has been completed on the John Armstrong Welch Project, Road Policing, USAFE, CAGGK, We Stand Together and the Recovery Fund in line with the restrictions.
NN Page 27
i i
n
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
wae ee ee ee ee eee ee ee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 neee el ee 19. Analysis of net assets between funds
Analysis of net assets between funds - current period
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Restricted|Unrestricted|Total|
|funds|funds|funds|
|2024|2024|2024|
|£|£|£|
|Fixed|asset|investments|-|4,893,292|4,893,292|
|Current|assets|33,370|197,068|230,438|
|Creditors due|within|one|year|-|(10,260)|(10,260)|
|Total|33,370|5,080,100|5,113,470|
|Analysis|of net assets|between|funds|-|prior period|
|Restricted|Unrestricted|Total|
|funds|funds|funds|
|2023|2023|2023|
|£|£|£|
|Fixed|asset|investments|-|4,645,297|4,645,297|
|Current|assets|43,256|286,749|330,005|
|Creditors|due|within|one year|-|(32,200)|(32,200)|
|Total|43,256|4,899,846|4,943,102|
----- End of picture text -----
- Reconciliation of net movement in funds to net cash flow from operating activities
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Net|income/expenditure|for|the|period|(as|per|Statement|of|Financial|
|Activities)|170,368|(432,495)|
|Adjustments|for:|
|(Gains)/losses|on|investments|(278,871)|241,239|
|Dividends,|interests and|rents from|investments|(119,087)|(129,607)|
|Decrease/(increase)|in debtors|8,322|(7,358)|
|Increase/(decrease)|in|creditors|(21,940)|23,850|
|Net cash used|in operating|activities|(241,208)|(304,371)|
----- End of picture text -----
NN$$ Page 28
GREATER MANCHESTER HIGH SHERIFF'S POLICE TRUST
a
eS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
a
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|21.|Analysis|of cash|and|cash|equivalents|
|2024|2023|
|£|£|
|Cash|in|hand|226,092|317,337|
|Total|cash and|cash|equivalents|226,092|317,337|
|22.|Analysis|of changes|in|net debt|
----- End of picture text -----
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|At|1|April|At|31|March|
|2023|Cash|flows|2024|
|Ps|£|£|
|Cash|at|bank and|in|hand|317,337|(91,245)|226,092|
|317,337|(91,245)|226,092|
----- End of picture text -----
23. Related party transactions
The trustees hold a variety of roles in other organisations where they could influence policies and procedures. A number of these organisations (listed below) have been awarded grants during the year. Members of the grant award panel do not vote on the awarding of the grants to organisations in which they hold a role. As at 31 March 2024 no amounts were due to any organisations listed below (2023: fnil). All figures listed below related to the year ended 31 March 2024 unless otherwise stated.
----- Start of picture text -----
|||||
|---|---|---|---|
|2024|2023|
|£|£|
|Mustard|Tree|-|5,000|
----- End of picture text -----
a Page 29 |