Charlty reglstration number 1060725
THE HEDLEY DENTON CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

THE HEDLEY DENTON CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
l H Nicholson
C M Watts
C C Nicholson
V Stevenson
Charfty number
1060725
Independent examiner
Simon Brown BAACA DChA
Azets Audit Services
Bulman House
Regent Centre
Gosforth
Newcastle Upon Tyne
NE3 3LS
Solicllors
lain Nicholson & Co
5 West Road
Ponleland
Newcastle Upon Tyne
Tyne And Wear
United Kingdom
NE20 9ST

THE HEDLEY DENTON CHARITABLE TRUST
CONTENTS
Page
Trustees, report
Statement of trustees, responsibilities
Independent examiner's report
Statement of financial activities
Statement of financial position
Notes lo the financial slalements
7-13

THE HEDLEY DENTON CHARITABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their annual report and financial statements for the year ended 5 April 2024.
Objectives and activities
Objects and aims
The trustees shall hold the trust and ils income upon trust lo apply them for such general ¢haritable purposes as the
Injslees in their absolute discretion de¢ide.
Fundraislng disclosurns
The charity is required lo report how il deals with fundraising from the public. The charity does not use a
professional fundraisèr or commercial particpalor lo raise funds. Any monies raised direct from the publi¢ follows all
guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and conta
preferences of all public donors.
Public beneflt
The trustees consider a range of objectives mainly lo charities in the North of England which can provide benefits
locally and further afield covering areas such as medical research and care. youth development, the disabled, arts
and assisting the disadvantaged both al home and overseas.
The trustees confirm that they have complied with the requirements of section 17 of the Charitie5 Act 2011 to have
due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
trust should undertake.
Grant making poli¢les
The trustees review applications received from persons and organisalions, decide lo accept or decline, and decide
how much they are prepared lo give. There are no sel rules, il 15 all al the Iruslees, own discretion, a8 long as all
trustees agree.
Achievemènts and perfomiance
The Trustees made 49 {2023.' 55) grants in the year lotalling £38.500 (2023.. £48,500}.
Flnancial revlew
Going concem
The charity's forecasts and projections for the next twelve months show that Ihe charity should be able to continue
in operational existence for that period. The charrty has strong poslive investments and cash balances available and
is forecasting for this to be the case.
Policy on reseThes
11 is the policy of the charity lo maintain Net Currenl Assets, al a level whi¢h equales to appriximately six months
expenditure. This provides sufficienl funds to cover management, admistralion and support cosls and to respond to
emergency applications for grants which arise from time lo time. Fixed asset investments are used to provide the
harily with its annual income.
The calculation of free reserves is based on the definition included in the charity statement of recommended
practice ISORPI, which provides recommendations for accounting and reporting for charities. The trustees have
examined the requirements of the charitable cornpany to hold free ieserves - Ih05e reserves not invested in tangible
fixed assets, excluding long tefm liabilities, or designated for a particular purpose. This exercise considered both the
normal requirements for working capilal and the loss of income of a hypothetical but reasonable reduction in the
scale of operations. Ac¢ordingly, the Iruslees consider that free reserves of around £ 50,000 will allow the charity lo
pay grants and administrative overheads for one year.
At year end, free reserves were £17,223 (2023.. £18,393). a decrease of £1,170 in the year.

THE HEDLEY DENTON CHARITABLE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Investmentpolicy and objectives
The trustees can invest any sums or investments received by them in investments in which they are by law
authorised to invest trust money, with power from lime to time to change for others of a like nature.
Structure. governance and management
Nature of governing document
The Hedley Denton Charitable Trust is a registered charity {registered number 1060725).
The governing do¢umenl is the Trust Deed dates 26th September 1996. and last amended on 18th December
1996.
The Iruslees also act as organising committee of the charity.
The trustees are appointed in accordance with the Trust Deed.
The Hedley Denlon Charitable Trust was sel up in 1996 primarily lo help charitable causes in the North East of
England. The object has been lo benefit a wide range of causes including medical care and research, the disabled
and youth progfammes. However, the trustees have a flexible approach nol limiting their awards to only Ihese
area5.
Al bi-annual trustees, meetings, the Iruslees agree the board strategy and areas of activity for the Trust, including
consideration of grant making, inveslmenl. reserves and risk management. The day lo day administration of grants
and the processing and handling of applications prior to ¢onsideralion is ou150urced lo lain Nicholson & Co
Solicitors. The day lo day management of the investments betsveen meetings is outsourced to Charles Nicholson
Asset Management.
Arrangements for setting key managementpersonnel remuneration
The Gharity does not employ any staff and therèfore the board remain responsible for the day-lo-day operation of
the charity.
The trustees who served during the year and up lo the dale of signature of the financial statements were..
l H Nicholson
Cmwatts
C C Nicholson
V Stevenson
Independent examlner
In accordance with the company's articles, a resolution proposing that Simon Brown BA ACA DChA be reappointed
as Independent Examiner of the company will be put at a General Meeting.
The trustees, report was approved by the Board of Trustees.
l H Nicholson
trustee
Cmwatts
trustee
Date..(! 3-<lb X4gZ4

THE HEDLEY DENTON CHARITABLE TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 5 APRIL 2024
The trustees are responsible for preparing the Trustees, Report and the financial statements in accordan￿ with
applicable law and Uniled Kingdom AGcounling Standards (United Kingdom Generally Accepled Accounting
Practice).
The law applicable lo charities in England and Wales requires the Irustees to prepare financial slalements for each
financial year which give a true and fair view of the stale of affairs of the trust and of the incoming resources and
application of resources of the trust for that year.
In preparing these financial statements, the trustees are required lo..
select suitable aG¢ounting policies and then apply them consistently..
observe the methods and principles in the Charities SORP.,
makejudgemenls and eslimates that are r@asonable and prudent.,
stale whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial statements., and
pr8pare the financial slalements on the going concern basis unless il 1$ inappropriate lo presume that the ¢harity
will continue in operation.
The Iruslees are responsible for keeping sufficient accounting records that dis¢lose with reasonable accuracy al any
time the financial position of the Irusl and enable them to ensure that the financial statements comply with the
Charities Act 2011, the Charity IAccounls and Reports) Regulations 2008 and the provisions of the trust deed. They
are also responsible for safeguarding the assets of the trust and hen¢e for taking reasonable steps for the
prevention and detection of fraud and other irregularilie5.

THE HEDLEY DENTON CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE HEDLEY DENTON CHARITABLE TRUST
I report to th& truste8s on my examination of the financial statements of The Hedley Denton Charitable Trust {the
trust) for the year ended 5 April 2024.
Responsibilities and basis of report
As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the
requirements of the Charities Act 2011 (the 2011 Act}.
I report in respect of my examinalion of the Irusl's financial slalemenls carried out under section 145 of the 2011
Act. In carrying out my examination I have followed all the applicable Dire¢lions given by the Charity Commission
under section 145(5)(b} of the 2011 Act.
Independent examinerfs statement
Your attention is drawn lo the fact that the charity has prepared financial statements in accordance with Accounting
and Reporting by Charities preparing their accounts in accordance with thè Financial Reporting Standard applicable
in the UK and Republi¢ of Ireland (FRS 102} in preference to the A¢counting and Reporting by Charrties.. Statement
of Recommended Practice issued on 1 April 2005 which is referied lo in the extant regulations bul has now been
withdrawn.
l understand Ihal this has been done in order for financial statements to provide a true and faiT view in accordance
with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. l Confirm that no matters have come to my attention in connection with the
examination giving me cause lo believe that in any material respe¢l'.
ac¢ounting records were not kept in respect of the trust as required by section 130 of the 2011 Act., or
the financial slalemenls do not accord with those records.. or
the financial statements do not comply with the applicable requirements concerning the form and conlenl of
accounts sel out in the Charities {Accounls 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 con¢erns and have come across no other matters in connection with the examination to which attention
should
drawn in this report in order lo enable a proper understanding of Ihe financial statements lo be reached.
Slmon Brown BA ACA DChA
Azets Audit Services
Bulman House
Regent Centre
Gosforth
Newcastle Upon Tyne
NE3 3LS
Dated..
Azets Audit Services is a Trading Name of Azets Audit Services Limited.

THE HEDLEY DENTON CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
Unrestricted Unrestrictod
funds
funds
2024
2023
Notes
Income from:
Investments
56,499
57.883
endlt
Raising funds
27,423
28,367
Charitable activities
$6,860
67,408
Total expendlture
84,283
95,775
Nel gainsl{lossesl on investments
61,957
1128,438)
Net In¢omel{expendlturel for the yearl
Net movement in funds
34,173
(166,3301
Fund balances at 6 April 2023
2,119,394
2,285,724
Fund balances at 5 Aprll 2024
2,153.567
2,119,394
The slalement of financial activilies inclLsdes all gains and losses recognised in the year.
All income and expenditure derive from continuing a¢livilies.

THE HEDLEY DENTON CHARITABLE TRUST
STATEMENT OF FINANCIAL POSITION
ASAT5APRIL 2024
2024
2023
Notes
Fixed assets
Investments
11
2.136,344
2,101,001
Currenl assets
Cash at bank and in hand
36,176
37,312
Creditors". amounts falling due wlthln
one year
12
(18,953)
{18,919)
Net curfent assets
17,223
18,393
Totsl assets less currènl liabilltie$
2,153,567
2,119,394
Income fund8
Unreslricled funds
2,153,567
2,119,394
2,153,567
2,119,394
The financial statements were approved by the Trustees on .
l H Nicholson
Trustee
Cmwatts
Tnlstee

THE HEDLEY DENTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accounting pollcies
1.1 Accounting convèntion
The financial slalèmenls have been prepared in accordance with the trust's governing document, thè
Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in thé UK and Republic of Ireland.
{"FRS 102"} and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable lo charities preparing their accounts in accordanGe with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). The trusl is a Public
Benefit Enlily as defined by FRS 102.
The Irust has taken advantage of the provisions in thé SORP lor charities not lo prepare a Statement of Cash
Flows.
The financial slalements have departed from the Charities {Accounts and Reports} Regulations 2008 only to
the extent required lo provide a true and fair view. This departure has involved following the Slalemenl of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is referred to in the Regulations bul which has since been withdrawn.
The financial slatèmenls are prepared in sterling. which is the functional currency of Ihe Irusl. Monetary
amounts in these financial slalements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concem
At the time of approving the financial statements. the Iruslees have a reasonable expectation that the trust
has adequate resources lo continue in operational existence for the foreseeable future. Thus Ihe Iruslees
continue lo adopt the going concern basis of aGcounting in preparing the financial slalemenls.
1.3 Charitable funds
Unreslricled funds are available for use al the discretion of the trustees in furtherance of their charitable
objectives.
1.4 Income
Income is recognised when the trust is legally entitled to il after any performance conditions have been mel,
the amounts can be measured reliably, and it is probable thal income will be received.
Investment income
Income frorn investments 15 included in incoming resources On￿ Ihe dividend is declared and notification has
been received of the dividend due. This is normally upon receiving notification by our investment advisor of
the dividend.

THE HEDLEY DENTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once Ihere is a legal or constructive obligation to Iransfer economi¢ 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.
All expenditure is accounted for on an accrual basis. All expenses. including support cosls and governance
costs, are allocated or apportioned lo the applicable expenditure headings in the slalemenl of financial
activities. Refer to the support C0515 note for further information on the basis of allocation.
IrTecoverable VAT is charged against the expenditure heading for which it was in¢urred.
Raising of funds
Rsising of funds costs are incurred in attracting voluntary income, the management of investments and those
incurred in trading activities that raisè funds.
Charltable activitles
Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities and
services for ils beneficiaries. 11 includes both costs that can be allocated directly to such activities and those
costs of an indirect nature necessary to support them.
Grant expenditure
Granls payable are payments made lo third parties in the furtherance of the charitable objects. In the case of
an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The
nolificalion gives the recipient a reasonable expectation that they will receive Ihe one year or multi-year grant.
Grant awards that are subject to the recipient fulfilling performance Gondilions are only accrued when the
rècipient has been notified of the grant and any remaining unfulfilled conditions attaching lo that grant are
outside Ihe control of the charily.
Granl provlslons
Grant provisions are made when the intention lo make a grant has been Communicated to the re¢epienl bul
there is uncertainly about either the liming of the grant or the amount of grant payable.
Governance costs
These include the costs attributable lo the charity's compliance with conslilulional and slalutory requirements,
including audit. sliategic managèment and trustee's meetings and reimbursed expenses.
Support costs
Support costs have been differentiated be￿een governance and support costs. Governance costs comprise
all costs involving the public accountability of the charity and ils compliance with regulalion and good proctice.
These costs include costs related to the statutory independent examinalion and other costs with an
apportionmenl of overhead and support costs.
1.6 Fixed asset investments
Fixed asset investments are included at market value at the balance sheet dale. Realised gains and losses on
investments are calculated as the difference be￿een sales proceeds and their market value al the start of the
year, or theiT subsequent cost. and are charged or credited lo the Statement of Financial Activities in the
period of disposal.
Unrealised gains and losses represent the movement in market values during the years and are credited or
charged to the Statement of Financial Activities based on the market value al year-end.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
inveslments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.

THE HEDLEY DENTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Accounting policies
(Continued
Baslc financlal assels
Basic financial assets, which include debtors and cash and bank balances. are initially measured at
tfansaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless
the arrangement conslitules a financing Iransaclion, where the debt instrument is measured at the present
value of the flilure payments discounted at a market rale of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried al amortised ¢osl, using the effective interest rale method.
Trade creditors are obligations lo pay for goods Of services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-currenl liabilities. Trade ¢reditors are recognised initially at
transaction price and subsequenlly measured at amortised cost using the effective interest method.
Investments
Unrostrlcted Unrestrlcted
funds
funds
2024
2023
Income from listed investments
56,499
57.883
Ralsing fund$
Unrestricted Unrestricted
funds
funds
2024
2023
Investmenl management costs
27,423
28,367
27,423
28,367

THE HEDLEY DENTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Charltsble activities
Unrestricted Unrestricted
funds
funds
2024
2023
Grant funding of activities (see note 5)
38.500
48,500
Share of support costs (see note 6)
Share of governance costs {see note 8)
14,460
3,900
14,478
4,430
56,860
67,408
Grants payable
Unrestricted UnrestrScted
funds
funds
2024
2023
Grants lo institutions..
All institutions
38.500
48,500
The support costs associated with grant makin9 are £Nil (S April 2023 - £Nil). Grants awarded are in the
region of £500 £1.000 and any above this are seperalely disclosed.
During the year, the trust awarded single or multiple grants to the following entities that were in excess of
£1,000..
Tyneside Hospice at Home
Charlie Waller Memorial Trust
Parkinsons UK
Prostale Cancer UK
- £ 2,000
- £ 2.000
- £ 2,000
£1,500
10-

THE HEDLEY DENTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Support costs
Support Governance
costs
costs
2024
Support Governance
costs
costs
2023
Human resources
Finance cos15
13,860
600
13.860
600
13,878
600
13,878
600
Audit fee
Independent examination
4,430
4.430
3.900
3,900
14,460
3,900
18,360
14,478
4,430
18.908
Analysed between
Charitable activities
14,460
3,900
18.360
14.478
4,430
18,908
Trusleos
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
trust duTillg the year.
Employees
The average monthly number of employees during the year was..
2024
Number
2023
Numbèr
Total
There were no employees within the charity during the current or prior year.
There were no key management personnel other than the Trustees themselves.
No trustees revceived any reimbursemed expenses from the charity during the year.
See the rèlated party note for details of related party transactions.
Net gainslllossesl on investments
Unrestricted Unreslrlcted
funds
fund$
2024
2023
Gainl{loss) on sale of investments
61,957
(128.438)
10 Taxation
The charity is exempt from lax on income and gains falling within section 505 of the Taxes Acl 1988 or section
252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects.
11

THE HEDLEY DENTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 5 APRIL 2024
11 Fixed asset investments
Listsd
investments
Cash in
portfolio
Total
Cost or valuation
At 6 April 2023
Additions
Valuation changes
Cash in portfolio movement
Disposals
2,034,317
120,109
83,126
66,684
2,101,001
120.109
83,126
16,645
1184,537)
16,645
(184,537}
At 5 April 2024
2,053.015
83.329
2,136,344
Carrylng amount
At 05 April 2024
2,053,015
83,329
2,136.344
At 05 April 2023
2,034,317
66,684
2,101.001
Flxed asset Investments revalued
The investments shown above are hèld at valuation.
The historical cost of the investment al year-end was £1,683,874 (2023. £1,726.932).
The value of other investments (including unlisled investments which are fixed interest bonds) included in the
investments above tolalled £140,764 (2023.. £144,930).
Flnancial Assets held at falr value
Fair value is taken as the market value of the investments held.
The charity holds 24.95°h {2023'. 26.10 /.) of the investment portfolio in Glaxosmithkline PIC and 5.210/0 (2023..
5.700/ts} of the inve51menl portfolio in Haleon Plc.
12 Credltors: amounts falling due withln one year
2024
2023
Accruals
18,953
18,919
13 Analysls of net assets between funds
Unrestricted Unrestricted
funds
funds
2024
2023
Fund balances al 5April 2024 are represented by..
Investments
Current assetsl(liabilitie5)
2.136,344
17,223
2,101,001
18,393
2,153,567
2,119,394
12

THE HEDLEY DENTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
14 Related party Iransactions
During the year the charity made the following related party transactions..
laln Nicholson & Co. Solicitors
lain Nicholson & Co. Solicitors have invoiced £13,800 {2023.' £13,800) for legal and adminislration matters of
the trust. At Ihe balance sheet date the amount due lo lain Nicholson & Co. Solicilors was £ 13,800 (2023..
£13,800).
C.M. Watts
C.M. Watts, a trustee. charged £600 12023.. £600} in respect of adminislralion and managemenl chaiges
during the year. Al the balance sheet date the amount due lo C.M. Watts was £60012023.. £600).
Charles Nlcholson Asset Management
Charles Nicholson Asset Management is related due to C. Nicholson. a Iru5tee, being a Principal al the firm.
Charles Nicholson Asset Management charged £27,423 12023.. £28,367) during the year in respect of
management fees for the investment Portfolio that it managed. Al the balance sheet dale the amounl due to
Charles Nicholson Assel Management was £652 {2023'. £619).
13-