THE HARRY BEVERLEYTiLOT50N CHAR￿ABLE TRusr Icharlty No 1060929) Annual Rewt and Fmancial 5tstements forthe year ended 5 Aprll 2024 THE HARRY BEVERLEY TILLOTSON CHARITABLE TRUST CONTENTS Page Trustees, Report Independent Examiner's Report Statement of Financlal Activities Balance Sheet Note5 to the Financlal Statsments 7-10 Schedule of Investments li- THE HARRY BEVERLEY TILLOTSON CHARITABLE TRUST Independent Examlnerfs Report for the year ended 5 Aprll 2024 The trustees present their report for the year ended 5 April 2024. Legal and admlnlstratlve infomiatlon Trustees Philip Nelson Annabel Sutherland Duchart Contart Address Wrigley5 Solicitor5 LLP 3 Wellln8ton Place Leeds LSI 4AP Independent Examiner5 C J Darwin FCA Thomas Coomb5 Limited 3365 The Pentsgon Century Way Thorpe Park Leeds LS15 8ZB Telephone: 0113 2449512 Investment Managers Wllllams Investment Management 34 Victoria Avenue Harrogate HGI SPR Telephone: 0142 370 5123 History and Constitutlon The Trust was created by a Trust Deed dated 11 February 1997 made by Isobel Rathbone, Christopher William Jones and Hammond Suddards Trustees Llmited under the name of 'The Silsden Ch8rlty'. On 10 March 2014 all three of the above trustees retired a5 trustees. William Matthew Wrigley and Annabel Sutherland Duchart were appointed as tru51ees. On 10 April 2014 the name of the charity vrds changed from Yhe Silden Charitv to Yhe Harry Beverley Tillotson Charitable Tru5Y. The Trust 15 registered with the Charity Commission (m 106QB291. The Trust was established to make funds available for charitsble purposesto benefit residents in the village of Silsden. West Yorkshlre. The Trustees must Use the income and may use the capltal of the Settlement In promoting the objects. The trustees have chosen an accounting reference date of 5 April to coinclde wlth the tax year and facilitate the efficient repayment of any income tax suffered. THE HARRY BEVERLEY TILLOTSON CHARITABLE TRUST Independent Examinerfs Report for the year ended 5 April 2024 Alms and activitie5 Donations are made at the dlscretlDn of the trustees. The trustees conflrm that they have referred to the guldance contained in the Charity Commisslon's general guidance on public bellefit when reviewingthe Truses aims and objectives and In settingthe 8rant making policy for the year. Investment mana8ement The charity's investment portfolio is managed on a (fiscretionary basis by Williams Investment Mana8ement. The investments are managed so a5 to obtain a balance between income and capital growth. The investments comprise a balanced portfolio of equities, with a lower risk profile, fixed interest investments and cash. There are no specific restrittions Other than the investments should be suitable for trusts. Trust reserves The trustee5 aim to keep a level of liquidlty wlthln the trust's 355et5 and year on year will donate the surplus Income of the trust. The income producing investments are maintained to generate future Income. Trustees, responsibllity for the financial statements The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance wlth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practiol. The law applicable to charities in England & Wales requlres the trustees to prepare financial statements for each financial year which give a true and fair view of the State of affairs of the charlty and of the incomin8 resources and application of resources of the charityfor that period. In preparing these financial statements. the trustees are required to., selert suitable accounting policies and then apply them consistently," observe the methods and principles in the Charities SORP 2015 (FRS 1021; make judgements and e5timatesthat a￿ reasonable and prudent", state whether applicable accounting standards have been followed, subject to any material departure5 disclosed and explained in the financial statements: prepare the financial statements on the going concern bas15 unless it Is inappropriate to presume thatthe charity will continue in operation. The trustees are responsible for keeping proper accountlng record5 that disrlose with reasonable accuracy at any time the financlal positlon of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charltles (Accounts and Reports) Regulations and the provisions of the trust deed. They are a150 responsible for safeguardlng the assets of the charty and hence for taking reasonable steps for the prevention and detettion of fraud and other irregularities. THE HARRY BEVERLEY TILLOTSON CHARITABLE TRUST Independent Examlnerfs Report for the year ended 5 Aprfl 2024 Under the Frf)wers Eranted by the trust deed, investment brokers manage the investment portfollo and the investments are held for adminlstratrve convenience in a nominee account on behalf of the trust. Hnancial activiti￿ and afrairs Total Income for the year under review amounted to £49,498 whi15t total expenditure amounted to £41,791. As a result. net Income for the year amounted to £7,707. Other reco8nlsed10sses deC￿aSed reserves by £8.173. In Consequen￿ the overall net decrease In funds amounted to £466 and this has been added to funds brought forward resulting in funds of £2,252,480 to carry forward at 5 Aprll 2024. The market value of the charity'5 investments lincludlng cash available for re-investment) amounted to £2,259,104 at 5 April 2024. Key management remuneratton There are no personnel employed by the Trust which art as key management other than the Board of Trustees. No trustee of the soclety recelves any rernuneration or relmbursement of expenses in relation to participation in any of the activltles of the society. Approval The trustees report was approved and signed by the trustees: Philip John Nelson Annabel Sutherland Duchart Dated: lo io eoz THE HARRY BEVERLEY TILLOTSON CHARITABLE TRUST Independent Examinerfs Report for the year ended 5 April 2024 I report to the charity trustees on my examination of the financial statements of the charity for the year ended 5 April 2024 which are set out on pages 5 to 14. Responslbllltles and basls of report As the charity's trustees you are responsSble for the preparatlon of the financial statements In accordance with the requirements of the Charities Act 2011"the ACV,. I report in respect of my examination of the charitws financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5){b) of the Act. Independent examinerfs ststement I have completed my examination. l Confirm that no material matters have Come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by sectlon 130 of the Act: or the financlal statements do not accord with those records: or the financial statements do not comply with the applicable requirements concerriing the fomi and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2IJ08 other than any requirement that the financial statements give a 'true and fair view, which 15 not a matter considered as part of an independent examination. I have no concerns and have come across no other matters In connectlon wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. C. D￿(￿￿7 Christopher Darwin FCA th Dated: 10 January 2025 Thomas Coombs Limited Thoma5 Coomb5, 3365 The Pentsgon, Century Way, Thorpe Park, Leeds, LS15 8ZB THE HARRY BEVERLEY nuoTSON CHARITABLE TRusr Statement of Financial Arttvitles for the year ended 5 April 2024 Unrestricted fund Z024 2023 Inco and endowments: Investments: Income from investment5 49,498 46,254 Total Income and endowments 49,498 46,254 Expendlture Costs of raising funds.. Investment managèment fees 15,563 14,539 Expendtture on charitable actlvities.. Dlrect charitable donation5 Governance costs 20,IXIO 6,228 70,(MXI 7,184 Totsl expenditure 41,791 91,723 Net Incomelexpenditure 7.707 145,4691 Other recognlsed gain511losses): Unrealised galns/l105ses) on revaluation Realised gains/llosses) on disposals (27,207) 19,034 {503951 1,050 Net gain5111055esl on investment a55ets (&173) (493451 Net movement In funds 1466) {94,814} Reconciliation of fun(ts Fund5 brought forward 252.946 2,347.811 Funds carried fonNard 2,252,￿80 2,252,946 THE HARRY BEVERLEY TILLOTSON CHARITABLE TRUST Balance Sheet as at 5 April 2024 Note 2024 023 Charitable fixed assets Investments 1259.104 2,258,782 Current assets Cash at bank Creditors: amounts fallin due within one ear Accruals 6,624 5,836 Net current assets liabilities 16,624) 15,836) et asse 1252,480 2,252,946 Fund5 Total funds 2,252,480 2,252,946 Approval The accounts were approved and signed by the trustees: Philip John Ne150 Annabel Sutherland Duchart Dated: THE HARRY BEVERLEY TILLOTSON CHARITABLE TRusr Note5 to the Financial Statement a5 at 5 April 2024 Accounting polides Basis of accountin The Harry Beverley Tlllotson Charitsble Trust is a Charity registered in England and Wales. The address of the registered office is glven in the charity information on pa8e l of these financial statements. The charity constitutes a public benefit entity as defined by FRS 102. The flnancial statements have been prepared in accordance wlth Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 i55ued on 16 July 2014 las updated through Upjate Bulletin I published on 2 February 2016). the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). the Charities Act 2011 and UK Generally Accepted Accounting Prdctice. The ch3rity has applied Update Bulletln l as pubfished on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section IA. The financial statements have been prepared to glve a 'true and fairf view and have departed from the Charities {Accounts and Reports) Regulatlons 2CQ8 only to the extent Tequired to provide a 'true and falr view. This departure has involved followlng the Accounting and Reportlng by Charitie5: Statement of Recommended Prattice applicable to charlties preparing their accounts In accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102} issued on 16 July 2014 rather than the Accounting and Reportlng by Charities: Statemerbt of Recommended Practice effectfve from l Aprtl 2005 whlch has since been withdrawn. The financial statements are PrePa￿d on a golng concern basis under the hlstorical ost convention. modified to Include certain iteffls at fair value. The financial statements are presented in sterling which is the functional CUTrerbcy of the charity and rounded to the nearest E. The significant accoLFnting policles applied in the preparation of these financial 51atsments are set out below. These policies have been consistently applied to all year5 presented unless otherwise stated. Income reco nition Investment Income Is ststed Eros5 of any recoverable tax deducted and included In income only when payable by the org3nisation. Other income 15 Included in the financlal statements on an accruals bas15. ndlture reco nition Donations a￿ charged to the income and expenditure account in the year in which they are agreed. THE HARRY BEVERLEY TILLOTSON CHARITABLE TRUST Notes to the Financial Statement as at 5 April 2024 Other amounts are included in the financial statements on an accruals basis. Taxation The charlty Is exempt from Income and capltal galnstax to the extent that income and gains are applied for charitable purposes. Investments Investments are stated in the balance sheet at their market value with annual gains and losses on revaluation being accounted for in the Statement of Financial Activities. Both realised and unrealised gains and losses on investments are included in other recognised gains and losses within the Statement of Financial Activities. Realised gains and losses on investments are calculated as the difference between disposal proceeds and carrying value at the date of disposal. Carrying value is the sum of market value brought forward at the beginning of the accounting period and the cost of subsequent acquisitions. Trustees, remuneration and benefits None of the trustees received any remuneration for their work as a trustee. The key management personnel of the trust comprise the trustees of The Harry Beverley Tillot50n Charitable Trust. The total employee benefits of the key management personnel of the Charity were £012023". £0) Independent examiner's remuneration £1.130 plu5 VATis payableforaccountancy and taxation workduring the year. Included within thi5 amount are fees for acting as an Independent Examiner. Income from investments 2024 2023 Investments listed on a recognised stock exchange or consisting of collective investments: Divldends Dividends from overseas companies and unit trusts 41,075 8A23 37,011 9,243 49N98 46,254 THE HARRY BEVERLEY TIILOTSON CHARITABLE TRusr Nots5 to the Flnancial Statement as at 5 April 2024 Dlrect tharltable Institutlonal grants The followlng grants were made In the year. 2024 2023 Silsden Aid In Sickne55 Fund (Reglstered Charlty: No 2363991 20,000 70,000 20,(KIO 70.000 Governan￿ costs 2023 Legal and professional fee5 (note 101 Accountancy and Independent Examination (note 3) 4,872 5,934 1,356 1,3C 6,228 Investments 2023 Market value brought forward Add., additions to Investments at Cost Less: opening cash Disposals at carrying value Unrealised gain/(105sI on revaluation Cash awaltlng re-lnvestment Market value carried forward 2.258,782 2,357,935 58,064 152,699 (168A921 1169.675) (97,1461 12ciI,174) {27,2071 (50,395) 235.003 168.392 2.259,104 2,258,782 At historlc cost at 5 April All Investments are listed on a reco8nised stock exchange, and are held within the followlng categories: 1,809,302 1,801,946 THE HARRY BEVERLEY TILLOTSON CHARrrA8LE TRUST Notes to the Flnandal Statement a5 at 5 Aprfl 2024 2024 23 UK equltles Overseas equities Cash awaiting re-investrnent 1,645.602 378.499 235.003 1,667,290 423,100 168,392 Z259,104 2,258,782 All iftvestments are held in nominee accounts, but In all other respects are considered to be dlrectly held investments. Detsils of investment valuations are shown on pages 11 to 14. Accruals 2024 2023 Investment portfolio management fees Accountancy and independent examlnatlon Wrigleys law advice 5,268 4,536 6.624 5.836 The accruals for Wrlgleys law advice are for both administration fees and charity law advice. Funds The fund comprises the original settled capital as adjusted for subsequent realised and unrealised investment gains and losses, together with the annual Surpluses or deficits of income. The trustees are able to apply capitsl and income forcharitsble purposes as theythink fit and the accumulated fund has therefore not been allocated to separate income and capitsl filnds. Related Party TTan5artlons The financial statements include a c05t of £4,872 (inclusive of VAT} for legal servKes received from Wrigley's Solicitors LLP for a period from 2023 to 2024. A S Duchart is an employee of the LLP. The fees are charged on a commercial basis. 10 8 8 R 8 8 I li 8 ￿ S J J J