Charity Information The Hypatia Trust (Limited by guarantee) Year ending 31[st] May 2025
TRUSTEES
A M B Bell P G Budden (Treasurer) J Davidson D Pinfold J Royle K Kirk (appointed October 2024; Chair)
BANKERS
Barclays Business Bank 1 Churchill Place London E14 5HP Aldermore Bank Apex Plaza Forbury Road Reading RG1 1AX
REGISTERED OFFICE AND PRINCIPAL ADDRESS
Lower Ground Floor The Regent 54 Chapel Street Penzance Cornwall TR184AE
REGISTERED NUMBERS
Company: 3198168 Charity: 1060663
INDEPENDENT EXAMINER
Dick Maule The Cross House South Woodchester GL5 5EL
Directors’ Report
For the year ended 31[st] May 2025
The Directors (who are also trustees for the purpose of charity law) present their report and financial statements for the year ended 31[st] May 2025.
Principal Activity
The Hypatia Trust is a charitable company, limited by guarantee. Its principal activity is the advancement of education for the public benefit, by gathering and maintaining literature documenting the lives and works of women, nationally and internationally, with particular reference to Cornwall, and making such works accessible to support the study and understanding of the achievements of women in society at large.
Directors
The Directors who served during the year were:
AMB Bell PG Budden (Treasurer) J Davidson D Pinfold J Royle K Kirk (appointed October 2024. Chair)
Review of the Year
2024-2025 was a year of transition and consolidation.
The Trust continued to support the development of the Gardeners’ House in Morrab Gardens, Penzance, including providing interim accommodation and staff expertise during the capital restoration programme. During the year, elements of the Trust’s botanical and environmental collections were formally gifted to The Gardeners’ House, ensuring long-term preservation and public access. A similar gift of a nursing collection was agreed with the Archives and Special Collections Department of the University of Exeter.
There were significant administrative changes. Two of our senior administrator left to take up roles within The Gardeners’ House. Interim leadership
arrangements were put in place and, in February 2025, operations were temporarily paused to enable a review, cataloguing, planning, and organisational reset. Reopening was delayed due to drainage issues within the building.
Despite these challenges, the Trust delivered a modified programme of women-focused literary and cultural events under its ‘Women of the Month’ series and other workshops, providing a platform for women writers, creative practitioners and educators. The Trust continues to address underrepresentation of women-focused educational spaces within Cornwall and the wider South West.
Financial Review
The Directors confirm that:
The Trust remains a going concern. Assets are sufficient to meet liabilities as they fall due.
No material post-balance events have occurred.
The Directors are not aware of any material differences between book values and realisable values of assets that would affect ongoing activities.
All income has been applied in furtherance of the Trust’s charitable objectives. The reserves policy is reviewed annually.
Risk Management
The Directors review financial, operational, statutory and strategic risks on a regular basis and implement appropriate mitigation measures. The year included operational risk management associated with staffing transition and temporary closure.
Future Plans
In the forthcoming period, the Trust intends to:
-
Refresh its programme of events and commence a staged reopening of its public facilities when maintenance and building works are complete.
-
Continue safeguarding and developing its literary, artistic and scientific collections relating to women.
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Strengthen governance and operational sustainability following the transitional year.
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Maintain collaborative partnerships that enhance public access to women’s cultural heritage.
Directors Responsibilities
The Directors are responsible for preparing the Directors’ Report and financial statements in accordance with applicable law and UK accounting standards (including FRS 102 and the Charities SORP).
They are responsible for maintaining adequate accounting records, safeguarding the assets of the charity, and preventing and detecting fraud and other irregularities.
Approved by the Board on 20[th] February 2026.
Signed on behalf of the Board
Philip Budden Director
The Hypatia Trust
Statement of Financial Activities for the year ended 31st. May 2025
| Unrestricted | Restricted | ||||||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Total | Funds | ||||
| Notes | 2025 | 2025 | 2025 | 2024 | |||
| £ | £ | £ | £ | ||||
| Income from | |||||||
| Donations | 5,737 | - | 5,737 | 3,846 | |||
| Investment income | 641 | - | 641 | 545 | |||
| Income from charitable activities | |||||||
| Grant | - | - | - | 12,000 | |||
| Apartment rents | 9,587 | - | 9,587 | 16,026 | |||
| Meeting room and fees | 10,495 | - | 10,495 | 478 | |||
| Book sales | 9,480 | - | 9,480 | 14,454 | |||
| Gardeners House administration reimbursements | 9,450 | - | 9,450 | 7,249 | |||
| Other income | 1,933 | - | 1,933 | 497 | |||
| Total | 47,323 | - | 47,323 | 55,095 | |||
| Expenditure on: | |||||||
| Charitable activities | 49,002 | 12,000 | 61,002 | 73,958 | |||
| Total | [2] | 49,002 | 12,000 | 61,002 | 73,958 | ||
| Netincome/ [expenditure] | (1,679) | (12,000) | (13,679) | (18,863) | |||
| Transfers between funds | - | - | - | - | |||
| Total funds brought forward | 492,259 | 12,000 | 504,259 | 523,123 | |||
| Totalfundscarriedforward | 490,580 | - | 490,580 | 504,259 |
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The Hypatia Trust
| Balance sheet as at 31st.May 2025 | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Tangible assets | £ | £ | ||
| Fixed assets | 470,600 | 481,352 | ||
| Current assets | ||||
| Debtors | = | ; | ||
| Cash at bank and in hand | 20,105 | 30,322 | ||
| 20,105 | 30,322 | |||
| Current liabilities | ||||
| Creditors: amounts falling | ||||
| due within 12 months | (125) | (7,416) | ||
| Net Current assets | 19,980 | 22,907 | ||
| Total assets | 490,580 | 504,259 | ||
| Unrestricted funds | ||||
| General funds | 19,980 | 10,907 | ||
| Designated funds | 470,600 | 481,352 | ||
| Restricted funds | - | 12,000 | ||
| Totalfunds | 490,580 | 504,259 |
For the year ended 31st May 2025
The company was entitled to the exemption from audit under section 477[2]
of the Companies Act 2006
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the
Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime
Meare Date: 20 th fFchvuory J of
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The Hypatia Trust
Notes to the accounts for the year ended 31st. May 2025
(1) Principal Accounting Policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.
(a) Basis of preparation
The charity constitutes a public benefit entity as defined by FRS 102. The financial
statements have been prepared 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) 2nd edition the Charities Act 2011 and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention.
(b) Fund accounting
[i] Unrestricted funds are available for use at the discretion of the trustees in furtherance of
the general objectives of the charity. [ii]Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes. [iii] Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. (c) Income Income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
[i] Income received by way of grants, donations and gifts and is included in full
in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becdmes unconditionally entitled to the grant. [ii] Donated services and facilities are included at the value to the charity where this can be quantified.
[iii]The value of services provided by volunteers has not been included in these accounts.
[iv] Investment income is included when receivable.
[v]Income from charitable trading activity are accounted for when earned.
[vi]JIncome from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
(d) Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes
any VAT which cannot be fully recovered
[i]Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. [ii] Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated dirctly to such activities and those costs of an indirect nature necessary to support them [iiiJAll costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
,
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The Hypatia Trust
Notes to the accounts for the year ended 31st. May 2025
(1) Principal Accounting Policies
(e) Fixed assets Tangible fixed assets are written off over the expected useful life of the asset, at 2% per annum for collection of the books and equipment and the building.
Items costing over £500 are capitalised.
(2) Expenditure
| Total | Total | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Rates | 1,542 | - |
| Freelance fees | 32,267 | 33,403 |
| Workshop and venue | 4,368 | 731 |
| Utilities | 4,576 | 9,790 |
| Insurance | 796 | 696 |
| Cleaning, repairs and maintenance | 55 | 5,210 |
| Advertising and marketing | 1,554 | 50 |
| Telephone | 394 | 555 |
| Print, postand stationery | 398 | 205 |
| Publications and subscriptions | - | |
| Sundry | 106 | 240 |
| Depreciation | 10,752 | 10,752 |
| Cost ofsales | 529 | 2,887 |
| LT. | 600 | 888 |
| Direct expenses apartment | - | 1,266 |
| Meeting room expenses | 600 | |
| Bank charges | - | |
| Non capitalised equipment | 2,390 | 5,923 |
| Independent examination | 675 | 760 |
| 61,002 | 73,958 | |
| (3) Creditors | £ | £ |
| Falling due within 12 months | ||
| Sundrycreditorsandaccruals | 125 | 7,416 |
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The Hypatia Trust
Notes to the accounts for the year ended 31st. May 2025
| (4) Tangible Fixed Assets | Leasehold | Library | Total | Total | |||
|---|---|---|---|---|---|---|---|
| Building | Equipment | Books | |||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| balance broughtforward | 430,000 | 2,500 | 106,864 | 539,364 | |||
| additions in the year | - | : | < | - | |||
| 430,000 | 2,500 | 106,864 | 539,364 | ||||
| Depreciation | |||||||
| balance broughtforward | 43,000 | 300 | 14,712 | 58,012 | |||
| charge fortheyear | 8,600 | 50 | 2,102 | 10,752 | |||
| 51,600 | 350 | 16,814 | 68,764 | ||||
| Net bookvalue at 31st.May2025 | 378,400 | 2,150 | 90,050 | 470,600 | |||
| Net bookvalue at 31st. May2024 | 387,000 | 2,200 | 92,152 | 481,352 | |||
| , | |||||||
| (5) Debtors | |||||||
| £ | £ | ||||||
| Falling due within 12 months | |||||||
| Sundry debtors and | - | - | |||||
| (6) Movements in funds | |||||||
| Balance at | Balance at | ||||||
| 1.6.2024 | Income | Expenditure | Transfers | 31.5.2025 | |||
| £ | £ | £ | £ | £ | |||
| Restricted funds | ; | ||||||
| Postcode Lottery | 12,000 | - | (12,000) | - | - | ||
| Unrestricted funds | |||||||
| General funds | 10,907 | 47,323 | (49,002) | 10,752 | 19,981 | ||
| Designated funds | |||||||
| Equipment and books | 94,352 | - | - | (2,152) | 92,200 | ||
| Building reserve | 387,000 | - | - | (8,600) | 378,400 | ||
| Pope-Holly legacy | - | - | - | - | - | ||
| 481,352 | - | - | (10,752) | 470,600 |
Equipment and books An amount equal to depreciation is debited annually to the designated fund
Building Reserve: The charity was gifted a property, it is held in a designated fund.
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The Hypatia Trust
Notes to the accounts for the year ended 31st. May 2025
(7) Analysis of net assets between funds
| General | Designated _ | Designated _ | Restricted | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Total | |||
| £ | £ | £ | £ | |||
| Tangible fixed assets | - | 470,600 | - | 470,600 | ||
| Currentassets | 20,105 | - | - | 20,105 | ||
| Current liabilities | (125) | - | - | (125) | ||
| Net assets at 31st March2025 | 19,980 | 470,600 | - | 490,580 | ||
| (8)Trustees information | 2025 | 2024 | ||||
| £ | £ | |||||
| Trusteesremunerationandexpenses | ; | ji | - |
No trustees received remuneration for professional fees and services
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The Hypatia Trust
Notes to the accounts for the year ended 31st. May 2025
(9) Analysis of prior year funds [required by F.R.S.102]. The Hypatia Trust
Statement of Financial Activities
for the year ended 31st. May 2024
| for the year endedthe year endedyear endedended 31st. May 2024 | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| Funds | Funds | Total | Funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Income from | |||||
| Donations | 3,846 | - | 3,846 | 4,424 | |
| Investment income | 545 | - | 545 | 475 | |
| Income from charitable activities | |||||
| Grant | - | 12,000 | 12,000 | - | |
| Apartment rents | 16,026 | - | 16,026 | 21,430 | |
| Meeting room hire | 478 | - | 478 | 3,521 | |
| Book sales | 14,454 | - | 14,454 | 8,224 | |
| Gardeners House administration reimbursements | 7,249 | - | 7,249 | 2,201 | |
| Other income | 497 | - | 497 | 279 | |
| Total | 43,095 | 12,000 | 55,095 | 40,554 | |
| Expenditure on: | |||||
| Charitable activities | 73,958 | - | 73,958 | 56,667 | |
| Total | 73,958 | - | 73,958 | 56,667 | |
| Net income / [expenditure] | (30,863) | 12,000 | (18,863) | (16,114) | |
| Transfers between funds | - | - | - | ~ | |
| Total funds brought forward | 523,123 | - | 523,123 | 539,236 | |
| Totalfundscarriedforward | 492,259 | 12,000 | 504,259 | 523,123 |
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The Hypatia Trust
Notes to the accounts for the year ended 31st. May 2025
(9) Analysis of prior year funds [required by F.R.S.102]. Movements in funds
| Movements in funds | |||||
|---|---|---|---|---|---|
| Balance at | Balance at | ||||
| 1.6.2023 | Income | Expenditure | Transfers | 31.5.2024 | |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| Post code Lottery | - | 12,000 | - | - | 12,000 |
| Unrestricted funds | |||||
| General funds | 32,805 | 43,095 | (73,958) | 8,966 | 10,907 |
| Designated funds | |||||
| Equipment and books | 94,718 | - | - | (366) | 94,352 |
| Building reserve | 395,600 | - | - | (8,600) | 387,000 |
| Pope-Holly legacy | - | - | - | - | - |
| 490,318 | - | - | (8,966) | 481,352 |
Equipment and books
An amount equal to depreciation is debited annually to the designated fund Pope-Holly legacy
The legacy has been utilised as future matched funding for the Gardener's House Project. Building Reserve: The charity was gifted a property, it is held in a designated fund.
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