Charity number: 1050135 ## THE ROSALIND HICKS CHARITABLE TRUST ## UNAUDITED ## ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 | 9 Bishop Fleming THE ROSALIND HICKS CHARITABLE TRUST 4 ## CONTENTS ||Page| |---|---| |Reference and administrative details ofthe Charity, its Trustees and advisers|1| |Trustees’ report|2-4| |independent examiner's report|5| |Statement offinancial activities|6| |Balance sheet|7| |Notestothefinancialstatements|8-17| ' ) ## THE ROSALIND HICKS CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2025 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 Audit Limited Chartered Accountants Brook House Winslade Park Manor Drive Clyst St Mary Exeter EX5 1GD Page 1 ## THE ROSALIND HICKS CHARITABLE TRUST ## TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 nnvra The Trustees present their annual report together with the financial statements of the Charity for the period 1 March 2024 to 28 February 20285. ## 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 was 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. ## 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 AND PERFORMANCE 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 £853,563 (2024: £828,064). ## d. PUBLIC BENEFIT In planning our activities for the year, we kept in mind the Charity Commission guidance on public benefit. ## FINANCIAL REVIEW The Charity had a surplus of £95,372 for the year (after net gains on investments of £76,914) and the reserves at the end of the year were £977,572. Of these £961,343 related to endowment funds and £16,229 related to unrestricted funds. Page 2 THE ROSALIND HICKS CHARITABLE TRUST | TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 ## 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. Page 3 | ## THE ROSALIND HICKS CHARITABLE TRUST TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 ## 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: - e select suitable accounting policies and then apply them consistently; e observe the methods and principles of the Charities SORP (FRS 102); - e make judgements and accounting estimates that are reasonable and prudent; - e state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - e 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. AppyovedEe) by,order of the members of the board of Trustees and signed on their behalf by: Chustophet Hart (Trustee) Date: 7 fKRoe har 2025, ; Page 4 ## THE ROSALIND HICKS CHARITABLE TRUST ## INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROSALIND HICKS CHARITABLE TRUST (‘the Charity’) | report to the charity Trustees on my examination of the accounts of the Charity for the year ended 28 February 2025. ## 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’). | 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 | 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. | 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. | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. 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. ! 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: Zuchop Fleming Audie Limird Dated: 21/12/2015 Mark Munro FCA ## BISHOP FLEMING AUDIT LIMITED Chartered Accountants Brook House Winslade Park Manor Drive Clyst St Mary Exeter EX5 1GD Page 5 ## THE ROSALIND HICKS CHARITABLE TRUST ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2025 ||||||As restated| |---|---|---|---|---|---| |||Endowment|_Unrestricted|Total|Total| |||funds|funds|funds|funds| |||2025|2025|2025|2024| ||Note|£|£|£|£| |INCOME AND ENDOWMENTS FROM:|||||| |Investments|2|.|4,382|4,382|10,788| |Royalties income|3|-|45,777|45,777|27,695| |TOTAL INCOME AND ENDOWMENTS||-|50,159|50,159|38,483| |EXPENDITURE ON:|||||| |Raising funds:|4,5||||| |Amortisation||1,723|-|1,723|1,723| |Investment management costs||-|10,796|10,796|8,212| |Charitable activities:|||||| |Other charitable activities||-|19,182|19,182|55,366| |TOTAL EXPENDITURE||1,723|29,978|31,701|65,301| |Net gains on investments|11|76,914|-|76,914|47,147| |NET MOVEMENT IN FUNDS||75,191|20,181|95,372|20,329| |||——_________}|_———_—_—_e|>=|ae| |RECONCILIATION OF FUNDS:|||||| |Total funds brought forward||886,152|(3,952)|882,200|861,871| |TOTAL FUNDS CARRIED FORWARD|14|961,343|16,229|977,572|882,200| |||9|SS|——___S~S*SE*|—S——————==| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 to 17 form part of these financial statements. Page 6 | ## THE ROSALIND HICKS CHARITABLE TRUST ## BALANCE SHEET AS AT 28 FEBRUARY 2025 |||||||As|restated| |---|---|---|---|---|---|---|---| ||||28|February||29|February| |||||2025|||2024| ||Note|||£|||£| |FIXED ASSETS|||||||| |Intangible assets|10|||35,876|||37,599| |Investments|11|||853,563|||828,064| |||||889,439|||865,663| |CURRENT ASSETS|||||||| |Debtors|12|37,282|||7,350||| |Cash at bank and in hand||59,037|||§3,935||| |||96,319|||61,285||| |CURRENT LIABILITIES|||||||| |Creditors: amounts falling due within one|||||||| |year|13|(8,186)|||(44,748)||| |NET CURRENT ASSETS||||88,133|||16,537| |TOTALASSETSLESSCURRENT|||—|||—|| |LIABILITIES||||977,572|||882,200| ||||rs|||SS]SS>SS=|| |CHARITY FUNDS|||||||| |Endowment funds|14|||961,343|||886,152| |Unrestricted funds|14|||16,229|||(3,952)| |TOTALFUNDS||||977,572|||882,200| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ## Christoph ec Hart (Trustee) ## Date: ( Veeter 202)[.] The notes on pages 8 to 17 form part of these financial statements. Page 7 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 | | ## THE ROSALIND HICKS CHARITABLE TRUST ## 1. ACCOUNTING POLICIES **----- Start of picture text -----**
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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 ail 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 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 | ## THE ROSALIND HICKS CHARITABLE TRUST ## 1. ACCOUNTING POLICIES (continued) ## 1.3 EXPENDITURE (CONTINUED) All expenditure is inclusive of irrecoverable VAT. - 4.4 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 28 FEBRUARY 2025 ## 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 **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |Unrestricted|Total|Total| |funds|funds|funds| |2025|2025|2024| |£|£|£| |Dividends|and|interest|4,382|4,382|10,788| |S05|S—SS———S===|_——| **----- End of picture text -----**
All 2024 income relates to unrestricted funds. ## 3. OTHER INCOMING RESOURCES **----- Start of picture text -----**
||||| |---|---|---|---| |As|restated| |Unrestricted|Total|Total| |funds|funds|funds| |2025|2025|2024| |£|£|£| |Royalties|45,777|45,777|27,695| |—|SS >:=|.| **----- End of picture text -----**
All 2024 income relates to unrestricted funds. Page 10 | ## THE ROSALIND HICKS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 ## 4. EXPENDITURE ON RAISING FUNDS **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Endowment|Total|Total| |funds|funds|funds| |2025|2025|2024| |£|£|£| |Amortisation|of copyrights|1,723|1,723|1,723| **----- End of picture text -----**
All 2024 expenditure relates to endowment funds. ## 5. INVESTMENT MANAGEMENT COSTS **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Unrestricted|Total|Total| |funds|funds|funds| |2025|2025|2024| |£|£|£| |Portfolio|management|2,311|2,311|2,239| |Investment|advice|8,485|8,485|5,973| |10,796|10,796|8,212| **----- End of picture text -----**
All 2024 expenditure relates to unrestricted funds. ## 6. ANALYSIS OF EXPENDITURE BY ACTIVITIES **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |Grant| |funding|of|Support|Total|Total| |activities|costs|funds|funds| |2025|2025|2025|2024| |£|£|£|£| |Charitable|activities|6,500|12,682|19,182|55,366| **----- End of picture text -----**
All 2024 expenditure relates to unrestricted funds. Page 11 THE ROSALIND HICKS CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 ## 6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS **----- Start of picture text -----**
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Total|Total| |funds|funds| |2025|2024| |£|£| |Accountancy|fees|4,800|4,410| |Legal|fees|7,882|6,206| |12,682|10,616| |7.|ANALYSIS|OF|GRANTS|PAID| |Grants|to|Total|Total| |Institutions|funds|funds| |2025|2025|2024| |£|£|£| |Grants|payable|6,500|6,500|44,750| |SS|SS|SS|==|SS|= ES|ee| |In|2025|and|2024,|all|grants|were|attributable|to|unrestricted|funds.| **----- End of picture text -----**
The Charity has made the following material grants to institutions during the year: **----- Start of picture text -----**
||||||||||| |---|---|---|---|---|---|---|---|---|---| |28|February|29|February| |2025|2024| |£|£| |NAME|OF|INSTITUTION| |The|Paignton|Picture|House|Trust|-|40,000| |Agatha|Christie|Festival|Ltd|4,500|4,750| |Churston|PCC|2,000|-| |6,500|44,750| |8.|INDEPENDENT|EXAMINER'S|REMUNERATION| |2025|2024| |£|£| |Fees|payable|to|the|Charity's|independent|examiner|for|the|independent| |examination|of the|Charity's|annual|accounts|4,800|4,410| **----- End of picture text -----**
Page 12 ## THE ROSALIND HICKS CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 9. TRUSTEES' REMUNERATION AND EXPENSES The average number of employees during the year was Nil (2024: Nil). During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 28 February 2025, no Trustee expenses have been incurred (2024 - ENIL). ## 10. INTANGIBLE ASSETS ||Copyrights| |---|---| ||£| |COST|| |At 1 March 2024|68,900| |At 28 February2025|68,900| |AMORTISATION|| |At 1 March 2024|31,301| |Charge forthe year|1,723| |At 28 February 2025|33,024| |NET BOOK VALUE|| |At 28 February 2025|35,876| |At29February2024|37,599| Page 13 | ## THE ROSALIND HICKS CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 ## 11. FIXED ASSET INVESTMENTS |||Listed||| |---|---|---|---|---| |||investments
£|Cash
£|Total
£| ||COST OR VALUATION|||| ||At 1 March 2024|809,782|18,282|828,064| ||Additions|3,389|49,382|52,771| ||Disposals|(45,000)|(59,185)|(104,185)| ||Revaluations|76,914|-|76,914| ||AT 28 FEBRUARY 2025|845,085|8,479|853,564| ||NET BOOK VALUE|||| ||AT 28 FEBRUARY 2025|845,085|8,479|853,564| ||AT 29
FEBRUARY 2024|809,782|18,282|828,064| |12.|DEBTORS|||| ||||28 February|29 February| ||||2025|2024| ||||£|£| ||Other debtors||37,282|7,350| |13.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||| ||||28 February|29 February| ||||2025|2024| ||||£|£| ||Accruals and deferred income||8,186|44,748| ||||eee|SS| Page 14 THE ROSALIND HICKS CHARITABLE TRUST ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 14. STATEMENT OF FUNDS ## STATEMENT OF FUNDS - CURRENT YEAR **----- Start of picture text -----**
|||||||||| |---|---|---|---|---|---|---|---|---| |Balance at| |Balance|at|1|Gains/|28|February| |March|2024|Income|Expenditure|(Losses)|2025| |£|£|£|£|£| |UNRESTRICTED|FUNDS| |General|Funds-|all|funds|(3,952)|50,159|(29,978)|-|16,229| |ENDOWMENT|FUNDS| |Endowment|Funds-|all|funds|886,152|-|(1,723)|76,914|961,343| |TOTAL|OF|FUNDS|882,200|50,159|(31,701)|76,914|977,572| |nd|—S_==sz|ES|—SE======Z|=SS=S| |STATEMENT|OF|FUNDS|-|PRIOR|YEAR| |As|restated| |Balance|at|Balance|at| |4|March|As|restated|Gains/|29|February| |2023|Income|Expenditure|(Losses)|2024| |£|£|£|£|£| |UNRESTRICTED|FUNDS| |General|Funds-|all|funds|21,143|38,483|(63,578)|-|(3,952)| |ENDOWMENT|FUNDS| |Endowment|Funds-|all|funds|842,172|(1,444)|(1,723)|47,147|886,152| |TOTAL OF|FUNDS|863,315|37,039|(65,301)|47,147|882,200| **----- End of picture text -----**
| Page 15 THE ROSALIND HICKS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 ## 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS | ## ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |Endowment|Unrestricted|Total| |funds|funds|funds| |28|February|28|February|28|February| |2025|2025|2025| |£|£|£| |Intangible|fixed|assets|35,876|-|35,876| |Fixed|asset|investments|853,563|-|853,563| |Current|assets|71,904|24,415|96,319| |Creditors|due|within|one|year|-|(8,186)|(8,186)| |TOTAL|961,343|16,229|977,572| **----- End of picture text -----**
## ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |Endowment|Unrestricted|Total| |funds|funds|funds| |29|February|29February|29|February| |2024|2024|2024| |£|£|£| |Intangible|fixed|assets|37,599|-|37,599| |Fixed|asset|investments|828,064|-|828,064| |Current|assets|20,489|40,796|61,285| |Creditors|due|within|one|year|-|(44,748)|(44,748)| |Prior year|adjustment|1,444|8,225|9,669| |TOTAL|887,596|4,273|891,869| |SSS|==|SS|SS|———SS—==| **----- End of picture text -----**
TOTAL ## 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 no grant commitments at the year end. Page 16 THE ROSALIND HICKS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 ## 18. PRIOR YEAR ADJUSTMENT During the current year, a misstatement in the prior year's financial statements was identified relating to royalty income and cash at bank and in hand. £8,225 of unrestricted royalty income was incorrectly recognised. The misstatement has been corrected by restating the prior year comparatives for the year ended 29 February 2024. The adjustment decreased the surplus for the year and total funds carried forward by £8,225 on the Statement of Financial Activities and the Balance Sheet. During the current year, a misstatement in the prior year's financial statements was identified relating to the investment portfolio cash and investment income. £1,444 of unrestricted investment income was incorrectly recognised. The misstatement has been corrected by restating the prior year comparatives for the year ended 29 February 2024. The adjustment decreased the surplus for the year and total funds carried forward by £1,444 on the Statement of Financial Activities and the Balance Sheet. Page 17