Charity number: 1050135
THE ROSALIND HICKS CHARITABLE TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
THE ROSALIND HICKS CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 16 |
THE ROSALIND HICKS CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 29 FEBRUARY 2024
| Trustees | Alexandra Clementson, Trustee |
|---|---|
| Nigel Wollen, Trustee | |
| John Mallowan, Trustee | |
| James Prichard, Trustee | |
| Christopher Hart, Trustee | |
| Charity registered number 1050135 Principal office Wollens 67 The Terrace Torquay Devon TQ1 1DP Accountants Bishop Fleming LLP Chartered Accountants 2nd Floor Stratus House Emperor Way Exeter Business Park Exeter EX1 3QS |
Page 1
THE ROSALIND HICKS CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024
The Trustees present their annual report together with the financial statements of the Charity for the 1 March 2023 to 29 February 2024.
OBJECTIVES AND ACTIVITIES
a. POLICIES AND OBJECTIVES
The Charity’s core Objects, as set out in its Deed of Trust, are that of making donations to charitable institutions.
b. GRANT-MAKING POLICIES
The Charity concentrates on supporting a limited number of charitable bodies and developing a continuing relationship with them. In 2022 it agreed to make an annual grant of £40,000 to Paignton Picture House Trust (registered charity number 1157934). This will be paid annually for 3 years subject to them providing regular reports on the utilisation of such grants and progress on the restoration of the picture house. The Charity also makes smaller periodic grants to the International Agatha Christie Festival (charity number 1165573) and to Churston Parochial Church Council.
c. FUNDRAISING
We do not employ a professional fundraiser. There have been no complaints in the last year about fundraising. The Charity does not approach people for funds, as they are voluntary payments from the public, so it does not affect vulnerable people.
ACHIEVEMENTS AND PERFORMANCE
a. MAIN ACHIEVEMENTS OF THE CHARITY
The main purpose of the Charity is to apply the income for the benefit of such charitable bodies or such other charitable purposes as the Trustees shall decide.
The Charity’s income consists predominantly of investment income, which is distributed to charitable organisations in accordance with the Trust Deed at the discretion of the Trustees after meeting administration and governance costs.
b. FUNDRAISING ACTIVITIES AND INCOME GENERATION
We do not employ a professional fundraiser. There have been no complaints in the last year about fundraising. The Charity does not approach people for funds, as they are voluntary payments from the public, so it does not affect vulnerable people.
c. INVESTMENT POLICY
There are no restrictions on the Charity’s power to invest. The overall policy if to adopt a medium risk investment strategy based on producing a balance of income and capital growth over the medium term.
At the year end the Charity’s investment portfolio (including cash held within the portfolio) was valued at £829,508 (2023: £809,785).
d. PUBLIC BENEFIT
In planning our activities for the year, we kept in mind the Charity Commission guidance on public benefit.
Page 2
THE ROSALIND HICKS CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
FINANCIAL REVIEW
The Charity had a surplus of £28,554 for the year (after net gains on investments of £47,147) and the reserves at the end of the year were £891,869. Of these £887,596 related to endowment funds and £4,273 related to unrestricted funds.
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. For this reason, they 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.
b. RESERVES POLICY
The Trustees consider that reserves to a minimum value of £600,000 are appropriate to generate sufficient income to meet anticipated grants and future operations. The current level of unrestricted reserves (£4,300 plus future annual royalty income) is not considered appropriate to meet current commitments and expenses. However, Trustees will be able to draw down from the endowment fund as necessary if the royalty income does not cover it's current commitments.
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. CONSTITUTION
The Rosalind Hicks Charitable Trust is a registered charity with the Cahrities Commission in England and Wales. The charity is governed by a Deed of Trust dated 1 March 1995, as amended by a Deed of Variation dated 1 October 1995, and is registered under the Charities Act 2011; Charity Registration Number 1050135.
b. METHODS OF APPOINTMENT OR ELECTION OF TRUSTEES
Under the terms of the Deed of Trust, the power of appointing new Trustees is vested in the existing Trustees. New trustees are appointed as and when vacancies arise. Prior to appointment a new trustee will be fully acquainted with details of policy, grant making commitments, and financial and investment details and will be provided with a copy of all relevant documentation.
c. FINANCIAL RISK MANAGEMENT
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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THE ROSALIND HICKS CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 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 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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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Nigel Wollen (Trustee)
Date: 30 January 2025
Page 4
THE ROSALIND HICKS CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROSALIND HICKS CHARITBALE TRUST ('THE CHARITY')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 29 February 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER;S STATEMENT
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Mark Munro FCA
Dated: 07 February 2025
Bishop Fleming LLP Chartered Accountants 2nd Floor Stratus House Emperor Way Exeter Business Park Exeter EX1 3QS
Page 5
THE ROSALIND HICKS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 29 FEBRUARY 2024
| Note INCOME AND ENDOWMENTS FROM: Investments 2 Royalties income 3 TOTAL INCOME AND ENDOWMENTS EXPENDITURE ON: Raising funds: 4,5 Amortisation Investment management costs Charitable activities: . Other charitable activities TOTAL EXPENDITURE Net gains/(losses) on investments NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 14 |
Endowment funds 2024 £ - - - 1,723 - - 1,723 47,147 45,424 842,172 887,596 |
Unrestricted funds 2024 £ 10,788 35,920 46,708 - 8,212 55,366 63,578 - (16,870) 21,143 4,273 |
Total funds 2024 £ 10,788 35,920 46,708 1,723 8,212 55,366 65,301 47,147 28,554 863,315 891,869 |
Total funds 2023 £ 9,540 29,170 38,710 1,723 7,486 54,070 63,279 (9,393) (33,962) 897,277 863,315 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 16 form part of these financial statements.
Page 6
THE ROSALIND HICKS CHARITABLE TRUST
BALANCE SHEET AS AT 29 FEBRUARY 2024
| 29 February | 29 February | 28 February | ||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | |||||
| Note | £ | £ | ||||
| FIXED ASSETS | ||||||
| Intangible assets | 10 | 37,599 | 39,322 | |||
| Investments | 11 | 829,508 | 809,785 | |||
| 867,107 | 849,107 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 12 | 7,350 | 8,225 | |||
| Cash at bank and in hand | 62,160 | 50,813 | ||||
| 69,510 | 59,038 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 13 | (44,748) | (44,830) | |||
| NET CURRENT ASSETS | 24,762 | 14,208 | ||||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 891,869 | 863,315 | ||||
| CHARITY FUNDS | ||||||
| Endowment funds | 14 | 887,596 | 842,172 | |||
| Unrestricted funds | 14 | 4,273 | 21,143 | |||
| TOTAL FUNDS | 891,869 | 863,315 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Nigel Wollen (Trustee)
Date: 30 January 2025
The notes on pages 8 to 16 form part of these financial statements.
Page 7
THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Rosalind Hicks Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 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.
Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
1.3 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 support costs involved in undertaking each activity.
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.
Support costs have been differentiated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include cost related to statutory accounts and legal fees together with an apportionment of overhead and support costs relating to Trustee Board meetings.
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.
Page 8
THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
1. ACCOUNTING POLICIES (continued)
1.3 EXPENDITURE (CONTINUED)
All expenditure is inclusive of irrecoverable VAT.
1.4 TAXATION
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
1.5 INTANGIBLE ASSETS AND AMORTISATION
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Intangible fixed assets consist of copyrights as inherited from the estate of the late founder Mrs R M C Hicks. The copyrights have been included at probate value. At the date of assignment to the Charity, the copyrights had a remaining life of 40 years under UK Law.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Copyrights - 40 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. The Trustees review this on an annual basis.
1.6 INVESTMENTS
Fixed asset investments are included in the accounts at market value as at the Statement of Financial Position date.
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value of at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
1.7 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.
1.8 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.
Page 9
THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
1. ACCOUNTING POLICIES (continued)
1.9 LIABILITIES
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.10 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.
The endowment fund represents an expendable fund. The fund has arisen from capital donations and legacies from the settlors of the Charity. Income arising from the endowment fund can be used in accordance with the objects of the Charity and is included as unrestricted income.
Further details of each fund are disclosed in note 14.
2. INVESTMENT INCOME
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Dividends and interest | 10,788 | 10,788 | 9,540 |
All 2023 income relates to unrestricted funds.
3. OTHER INCOMING RESOURCES
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Royalties | 35,920 | 35,920 | 29,170 |
All 2023 income relates to unrestricted funds.
Page 10
THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
4. COSTS OF OTHER TRADING ACTIVITIES
| Amortisation of copyrights All 2023 expenditure relates to endowment funds. |
Endowment funds 2024 £ 1,723 |
Total funds 2024 £ 1,723 |
Total funds 2023 £ 1,723 |
|---|---|---|---|
5. INVESTMENT MANAGEMENT COSTS
| Unrestricted funds 2024 £ Portfolio management 2,239 Investment advice 5,973 8,212 All 2023 expenditure relates to unrestricted funds. ANALYSIS OF EXPENDITURE BY ACTIVITIES Grant funding of activities 2024 Support costs 2024 £ £ Charitable activities 44,750 10,616 |
Total funds 2024 £ 2,239 5,973 8,212 Total funds 2024 £ 55,366 |
Total funds 2023 £ 1,515 5,971 |
|---|---|---|
| 7,486 | ||
| Total funds 2023 £ 54,070 |
6. ANALYSIS OF EXPENDITURE BY ACTIVITIES
All 2023 expenditure relates to unrestricted funds.
Analysis of support costs
Page 11
THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
Analysis of support costs (continued)
| Accountancy fees Legal fees |
Total funds 2024 £ 4,410 6,206 10,616 |
Total funds 2023 £ 4,200 6,870 |
|---|---|---|
| 11,070 |
7. ANALYSIS OF GRANTS PAID
| Grants to Institutions 2024 Total funds 2024 £ £ Grants payable 44,750 44,750 In 20224 and 2023, all grants were attributable to unrestricted funds. The Charity has made the following material grants to institutions during the year: |
Total funds 2023 £ 43,000 |
|---|---|
| NAME OF INSTITUTION The Paignton Picture House Trust Agatha Christie Festival Ltd 8. INDEPENDENT EXAMINER'S REMUNERATION Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
29 February 2024 £ 40,000 4,750 44,750 2024 £ 4,410 |
28 February 2023 £ 40,000 3,000 |
|---|---|---|
| 43,000 | ||
| 2023 £ 4,200 |
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THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
9. TRUSTEES' REMUNERATION AND EXPENSES
The average number of employees during the year was Nil (2023: Nil).
During the year, no Trustees received any remuneration or other benefits (2023: £Nil). During the year ended 29 February 2024, no Trustee expenses have been incurred (2023: £Nil).
10. INTANGIBLE ASSETS
| COST At 1 March 2023 At 29 February 2024 AMORTISATION At 1 March 2023 Charge for the year At 29 February 2024 NET BOOK VALUE At 29 February 2024 At 28 February 2023 |
Copyrights £ 68,900 |
|---|---|
| 68,900 | |
| 29,578 1,723 |
|
| 31,301 | |
| 37,599 | |
| 39,322 |
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THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
11. FIXED ASSET INVESTMENTS
| Listed investments £ COST OR VALUATION At 1 March 2023 792,635 Additions - Disposals (30,000) Revaluations 47,147 At 29 February 2024 809,782 NET BOOK VALUE At 29 February 2024 809,782 AT 28 FEBRUARY 2023 792,635 12. DEBTORS Other debtors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
Cash £ 17,150 40,788 (38,212) - 19,726 19,726 17,150 29 February 2024 £ 7,350 29 February 2024 £ 44,748 |
Total £ 809,785 40,788 (68,212) 47,147 829,508 829,508 809,785 28 February 2023 £ 8,225 28 February 2023 £ 44,830 |
|
|---|---|---|---|
Page 14
THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
14. STATEMENT OF FUNDS
Statement of funds - current year
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at 1 | Gains/ | 29 February | |||
| March 2023 | Income | Expenditure | (Losses) | 2024 | |
| £ | £ | £ | £ | £ | |
| UNRESTRICTED FUNDS | |||||
| General Funds - all funds | 21,143 | 46,708 | (63,578) | - | 4,273 |
| ENDOWMENT FUNDS | |||||
| Endowment Funds - all funds | 842,172 | - | (1,723) | 47,147 | 887,596 |
| TOTAL OF FUNDS | 863,315 | 46,708 | (65,301) | 47,147 | 891,869 |
| Statement of funds - prior year | |||||
| Balance at | Balance at | ||||
| 1 March | Gains/ | 28 February | |||
| 2022 | Income | Expenditure | (Losses) | 2023 | |
| £ | £ | £ | £ | £ | |
| UNRESTRICTED FUNDS | |||||
| General Funds - all funds | 43,989 | 38,710 | (61,556) | - | 21,143 |
| ENDOWMENT FUNDS | |||||
| Endowment Funds - all funds | 853,288 | - | (1,723) | (9,393) | 842,172 |
| TOTAL OF FUNDS | 897,277 | 38,710 | (63,279) | (9,393) | 863,315 |
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THE ROSALIND HICKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Analysis of net assets between funds - current period
| Intangible fixed assets Fixed asset investments Current assets Creditors due within one year TOTAL |
Endowment funds 29 February 2024 Unrestricted funds 29 February 2024 £ £ 37,599 - 829,508 - 20,489 49,021 - (44,748) 887,596 4,273 |
Total funds 29 February 2024 £ 37,599 829,508 69,510 (44,748) 891,869 |
|---|---|---|
Analysis of net assets between funds - prior period
| Intangible fixed assets Fixed asset investments Current assets Creditors due within one year TOTAL |
Endowment funds 28 February 2023 £ 39,322 802,850 - - 842,172 |
Unrestricted funds 28 February 2023 £ - 6,935 59,038 (44,830) 21,143 |
Total funds 28 February 2023 £ 39,322 809,785 59,038 (44,830) 863,315 |
|---|---|---|---|
16. RELATED PARTY TRANSACTIONS
Christopher Hart is a partner in Wollens, solicitors who provide services to the Trust. The legal fees for these services are showing in note 6.
17. GRANT COMMITMENTS
The Charity has grant commitments to The Paignton Picture House Trust of £40,000 which is payable annually in the financial year ending 2025.
Page 16