THE MICHAEL AND SHIRLEY HUNT CHARITABLE TRUST TRUSTEES, REPORT AND AUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CHARITY NO: 1063418 THE MICHAEL AND SHIRLEY HUNT CHARITABLE TRUST CONTENTS Page Legal & Administrative Infomiation Report of the Trustees 24 Report of the Audttors 5-6 Statement of Financial Activities Balance Sheet Notes to the Accounts forming part of the Financial Statements 9-12 THE MICHAEL AND SHIRLEY HUNT CHARITABLE TRUST LEGAL ANO ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2021 Trustees Mrs D S Jenkins (Chair) Mrs W J Baker MrCJHunt Mrs K D Mayberry Principal office Ansty House Henfield Road Small Dole Wesl Sussex BN5 9XH Auditors Sigma Partners Registered Auditors and Chartered Certified Accountants Gloucester House Church Walk Burgess Hill West Sussex RH15 9AS Bankers Charities Aid Foundation CAFCASH Ltd Kings Hill West Malling Kent ME19 4TA THE MICHAEL & SHIRLEY HUNT CHARITABLE TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The trustees present their report along with the financial statements of the charity for the year ended 31 March 2021. The financial statements have been prepared in accordance wtth the accounting policies sel out on page 9 and comply with the charity's ITUSI deed and applicable law. Objectives and Activities The charity was formed with the primary objectives of ￿lieVIng the hardship faced by prisoners and the families of prisoners and relieving the suffering of animals. In addition, wider powers are conferred on the trustees to make other charitable donations al their absolute discretion. The trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, induding guidance on Public Benefit. Achlevements and Performance Grant applications are generated from a variety of Sour￿$, principally from the Charity Commission register, the Citizens, Advice Bureau and various grant giving guides. The trustees, philosophy is primarily to assist charitable bodies with emergency operational funding rather than funding capital projects. The trustees insist that all granl applications be made in writing. A quorum of trustees reviews the applications on receipt and decides immediately or requests further infomiation. Formal meetings of all the trustees are held as and when n￿SSary and at least annually. The truslees have ensured that the charity has delivered public benefil in the areas of the relief of povety suffered by prisoners and the families of prisoners. the advancement of citizenship in contributing to the r8habililalion of Prisoners, and the advancement of animal welfare. The trustees have carefully ¢onsidered grant applications received and ensured thal they have mel the objectives of the charity as sel out above and are beneficial to the public. During the current year, more funding was directed towards Charities working with animals than would usually be the case. The Trustees took the decision to prioritise applications from such charities as their animal care costs remained whilst their fundraising opportunilies had declined due to the Covid 19 pandemic. During the same period there were fewer applications for assistance from prisoners and their families as prison visits and resettlement visits and leaves were not pemiitted. again due lo the Covid 19 pandernic. Financial Review The trust has a permanent endowTnenl of just over £3.2 million. which generales income to be used for the objects of the charity. During the year investrnent income of £231,529 arose. Grants payable during the year totalled £74,069, as delailed in note 4 to the accounts, to a diverse range of both insb'tutional and Individual causes. There are no restrictions on the charity's power to invest. The investment strategy set by the trustees is to prolect the capital base and maximise the immediale income relurn on the pemanent endowment, which is being achieved by selective quality freehold investment and deposit accounts. Financlal Review- Reserves Policy The trustees have not yet sel a monetary reserves target as the expectation has been, and remains that the potential primary beneficiaries of the charity are significantly higher than those currently being serviced. Once they are confident that all has been done to idenbfy and quantify the long temi level of demand, the reseNes will be set accordingly. In the meantime the trustees ale minded to be cautious in their approach to using reserves. THE MICHAEL & SHIRLEY HUNT CHARITABLE TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 cont'd The trustees are also conscious of the specific clause in the Trust Deed encouraging them to accumulate additional capital in the early years for the long temi good of the charity. Structure. Governance and Management The Michael and Shidey Hunt Charitable Trust is constituted by Trust Deed dated 26 June 1997. The trustees named on page 1 have served throughout the year and since the year end. Mrs S E Hunt served as a trustee throughout the year and up unb'l the date of her death on 14lh November 2021. Appointment of trustees is governed by the Trust Deed of the charity, whereby the existing trustees have the power to appoint further tTUStees as required. The day to day work of the charity is carried out by the trustees, assisted by voluntary administrative and bookkeeping staff as required. If any further trustees were appointed. they would be introduced to their new role and given Copies of the trust deed and a guide to the policies and procedure$ adopted by the charity. A number of publications from the Charity Commission would also be provided lo ensure that new trustees would be aware of the scope of their responsibilities under the Charities Acl. Reference and Admlnlstratlve Detalls The Michael and Shirley Hunt Charitable Trust is a registered charity, number 1063418. See page 1 for the address of the principal office and the details of the individuals who served as Trustees during the year. Exemptlons from Disclosure None. Funds held as Custodlan Trustee on behalf of others None. Trustees Responsibilities In relation to the Financial Statements Law applicable to charities in England and Wales requires Ihe trustees lo prepare financial slalements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to= la) select suitable accounting policies and apply them consistently., Ib) make judgements and estimates that are reasonable and prudent-, {c} state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements", Id) prepare the financial statements on a going concem basis unless it is inappropriate to presume that the charity will continue in operation. THE MICHAEL & SHIRLEY HUNT CHARITABLE TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 cont'd The Irustees are responsible for keeping accounting records which 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 Ad 2011. They are also responsible for safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approval This report was approved by the trustees onlg Tx 2022 and signed on their behalf. Trustee INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MICHAEL AND SHIRLEY HUNT CHARITABLE TRUST Oplnion We have audited the financial statements of the Charttable Trust for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balan￿ Sheet and notes to the financial slalements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting practs￿). In our opinion. the financi21 statements.. give a true and fair view of the chanty's affairs as al 31 March 2021 and of its income and expenditure for the year then ended.. have been properly prepared in accordance wth United Kingdom Generally A￿pIed Accounting Practice", have been prepared in accordan￿ with the requirements of the Charities Acl 2011. Basis For Opinlon The audit was conducted in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities undeT those standards are ftjrthei set out in the Respective responsibilities of trustees and auditors section of our report. We are independent of the trust in accordan￿ wilh the ethical requirements relating lo the audit, including the FRC'S Ethical Standard. and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is 5ufficienl and appropriate to provide a basis for our opinion. Conclusions Relating to Going Concern We have nothing to report in respect of the followng matters in relation to which the ISAS (UK} require us to report to you where.. the trustees. use of the going con￿rn basis of accounting in preparation of the financial statements is not appropriate., or the trustees have not disclosed in the financial statements any idenb'fied material uncertainties that may cast significant doubt about the charity's ability lo continue lo adopt the going concern basis of accounting for a period of at least ￿e1ve months from the date when the financial statements are authorised for issue Other Information The trustees are responsible for the other infomiation contained in the Tnjstees Report. Our opinion does not cover the other infom)ats"on and. except to the extent otherwise explicitly stated in our report, we do not express any fom of assurance conclusion ther60n. In connection with our audil of the financial statements, our responsibility is to read the other informalion and, in doing so, consider whether Ihe other information is materially inconsistent with the financial statements or our knowledge obtained in the aLJdit or otherwise appears to be misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misslalemenl in the financial statements or a material misstatement of the other information. If, based on the work we have performed. we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report In this regard. Matters on which we are reqUI￿d to report by exception In the light of the knowledge and understanding of the trust and environment contained in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report. INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MICHAEL AND SHIRLEY HUNT CHARITABLE TRUST conyd . We have nothing to report in respect of the following matters in relation to which the Charrbes Act 2011 requires us to report lo you if, in our opinion.. sufficient accounting records have not been kept.. the financial statements are not in agr*ment with the accounting records and retums., or we have not received all the information and explanations necessary for the purposes of our audit. Responslbilities of the trustees As explained more fully in the trustees, responsibilities statement set out on pages 3 and 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they detemine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or erfor. In preparing the financial statements. Ihe trustees are responsible fof assessing the charity's ability lo continue as a going concern. disclosing, as applicable, matters related lo going concem and using Ihe going con￿r￿ basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic attemative but to do so. Our responslbilities for the audlt of the flnanclal statements Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misstatement. whelher due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducled in accordance wlh ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material. if individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalemenls. A further description of our responsibilities for the audit of the financial stalements is located on the Financial Reporting Council's website at wv4w.frc.org.uklaudilorsresponsibilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the Charitvs trustees, as a body, in accordan￿ with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Acl. Our audit work has been undertaken so that we might state lo the Charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other Ihan the Charity's tnjstees as a body, for our audit work, for this report, or fof the opinions we have fomied. Date.. Sigma Partners ststutory Auditors and Chartered Certified Accountants Gloucester House Church Walk Burgess Hlll West Sussex RH15 9AS Sigma Partners is eligible to act as an auditor in terms of secknon 1212 of the Companies Act 2006. MICHAEL AND SHIRLEY HUNT CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES Including Summary Income and ExpenditureA¢count For the year endèd 31 Mar¢h 2021 Unrestrrcted Endowment Funds Funds Total 2021 Total 2020 Note Incomlng Resource$ Donations Investment income 231529 231 529 242 612 Total Incomlng Resources 231 231 Re80urces Expended Charitable expenditure Grants payable Management and administration 74,069 74,069 706 68,643 Totsl Resources Expende(I Net mov8ment in Funds for the year 153.754 1 S3,754 170,281 Total Funds brought forward Revaluation of freehold propety 4,183.044 3,214,438 7.397.482 978 97 7,227,201 Total Funds carrled fopthvard The Slalemenl of Financial Acb"vities above includes summary income and expenditure accounts and a break4own analysis can be found in the notes. There were no recognised gains or losses lor 2020 or 2021 other Ihan those included in the Statement of Financial Aetivilies. MICHAEL AND SHIRLEY HUNT CHARITABLE TRUST BALANCE SHEET As at 31 March 2021 Unrestricted Endowment Funds Funds Total 2021 Total 2020 Note Investments Freehold Propety 0 2 949 500 2 949 500 2 861 522 Current Assets Accrued Income and debtors Prepayments Secured loans Cash al Bank . Deposlt a￿ountS Cash at Bank - Current account 65,758 659 65,758 659 73,741 137 4.247,808 163924 4,478.149 264,938 4,S12.746 163 924 264,938 4,743,087 4,477,635 33 202 4,584,715 Current Llabllttle$ Cr&dilors and accruals Net Current Assets 264 Totsl Net Assets Funds 10 Approved by the Trustees on i• Jwth•l 2022 and signed on their behalf. Mrs D S Jenkiins- Trustee MICHAEL AND SHIRLEY HUNT CHARITABLE TRUST Notes to the accounts for the year ended 31 March 2021 Public Benefit Entity The Michael and Shirfey Hunt Chantable Trust is constituted as a charitable trust and registered in the United Kingdom. 11 is a Public Benefrt Entity. 2 Accounting pollcles 2.1 Basls of preparation of accounts The financial slalemenls are prepared under the historical cost convention as rnodified by the inclusion of investments al rna￿et value and in accordance wilh Charities, Slalemenl of Recommended Practice for Financial Reporting Stsndard IFRSI 102. 2.2 Golng concern The Iruslees consider that the charity will be a going concem for a period of at least tsvelve months following the date of the audrt report. 2.3 Income Investment inc¢)me is accounted for in the perits￿ in which thg charty 13 gnlilled lo receipt. Donations are accounted for as received by the chanty. 2.4 Resources expended Expenditure is included on an accruals basis. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is condrtional. such grants being recognised as expendsture when the conditions allaching are luwilled. Management and administration comprises costs for the running of the charity rtself as an organisalion. 2.$ Fund accountlng Details of the nature and purpose of each fund is set out in Note 10. 2.6 Investment Property Investment property is measured al Fair Value with gains or losses in Fair Value recognisei1 in the Statement ol Financial Activities. Investment income 2021 2020 Nel rgnls receivable Interest on cash deposits 217,013 213,369 Grants payable The amount payable in the year comprises.. Reliel of hardship of prfWT￿ and prfson8rs' families InstiEution8l9ianls.- In51ilutional grants PMNW 1,500 1.500 New 8ndgÈ- publicabon of Inside TLme Chelsea Anderson- help ¥¥ith rent aThe8r5 Whi￿ husband in pwn Modern Art Oxford- projed for chill￿n whose parents are prisoners Prison Fellowship- Grant tO%Wdrds An￿1 Tree. projert Forward Trust- supporting Vulnerable PriSDner5 with $ub5tanc8 abuse t5sues SOFA Project- to a5SlSt wth shortfall In O￿nders, programme Prisoners Penfrrends- help with Stslionery and admin eA)sts ol volunteer5 RAW Workshop- grant re training programme ai HMP Spring Hill 2,000 3.QOO 2.000 1.OOCI 2,000 Other inslttuiional gr8nl$ urjder £1,C#)D each10 in ti)ta 15.000 15.CQO Grants to indNklua1515 in totall R•ll•f of 8vll•rfn9 of Anlm41 Instittsllonal qr8nt$.". Gre8lwood- Grant towards velennary and cos Bentham & Di51rKt P81 Re5cue- rel*ve Suffering Of c41s and dogs Rvrnus Memorial HO￿ SanctU8ry- help wrth running costs of sanctuary Support D¢9s- help wrth training costs for dog$ Ihat help with autism & epikp5y Forev¢r Hounds Tru$t- he* with rehcffiing & rehab ofgreyhouThJs & lur¢ther5 Wild Fulvres- Monkey sanctuary Bristol OAWG- grani lo¥vards pur¢ha8e of a animo1 transporter Degs Fr￿nd8- grant for velennary bi115 Bulk109 Rescue & Rehoming- holp %%ith leeding. care needs aTrJ rnedKo1 troatrnent Hope Rescue Cenlr¢- grant for new CCTV syst South of Scotland Wikllrfe Hospital. help with rehabrfitatvth of iniured bitd$ & anwn• Moortand MOUSE Trusl- h¢* for pmtecting aTrJ premoiing EKmeor ponie5 Brent Ledgè Bird & WIPJlrfe Trust- grant towards running costs West Mer¢ia Animal Refuge- assisbng wlh foster ¢are for Greyhoun(t Rescue- help 1ry*48rds ¢05t5 of rtrhomiThJ ex ra￿9 gr8yhwnd$ Helly Hedge Animal Sanctuary- a55islanc* towards vel bills Anlmal Antics- help wrth eosis of animal a(Jwty equiprrEnl Cat SanctU8ry- SUPPOrt￿9 gknbal cal conSetvat￿jn West Yorkshire Dog Rescue- help ￿th njnning costs for rtrhoming dc¥J$ D8an Forrn Trust- help with costs for animal 5anctU8ry RSPCA Co¥eniry & Distr￿t- granl for replaung llooring in kennel bkx*$ Guide dogs ftir the blind- training costs for guwje tyJ5 Harper Asprey Wildlrfe Rescue- grant for veterinary unrt equipment Pet Food Bank Se￿l¢e- grant for purthase of slorage unit Nibbks Rodèni & Rabbit Re5cue- help tOlWdrds runthir￿ costs t>ogs for Go(Kl- grant to refurbish kennel sho¥b*r CRRU- grant towards boat repairs and other cos Hugs Foundation- htlp wth horse Y￿lIbe1n9 care h￿rE pKye Endangered Specie5 Protecbon Agency- helping pr¢)te(* ￿regrine fakx>ns Thomberry Animal Sanduary- assL8ting animal restAJe centre ￿ Shtopshire Alberts Horse Sanctuary- a55islanee wrth runnirs Ix)sts 1.000 1.000 1,000 1,0 1.tXIO 1.000 1,OC 1.oryj 1.500 1.000 1,000 1.000 1,000 3,350 1.485 1.764 1.000 2,000 1,450 1.000 1.000 othei inslrtution81 grants uThJer£1,000 Èach11 in tota 500 38.049 Other deserving causes Inslitutional grants.". Rockinghorse- therapeutic activities at Chalkhill thild menlal heamh unit 1,30 Sl Barnabas Hospi¢e- support for local hospice Reengage- supporting telephone betriending of the elderfy in Sussex 1,000 Kinship Care N Ireland- Christmas appeal for children unable to live vthh their parents Off The Fence- supporting the homeless in 8nghton & Hove 1.000 Martlèls Hospicè- support for Ictal hospice 7.000 Other institution41 grant under £1,000 èÈth11 in totsl} 750 20,050 Total gr•nt8 to Institutions TOTAL GRANTS PAYABLE IN YEAR Managèment and Odmlnlstratlon 2021 2020 Audlt fee Legal and profe$8ional fees Stationery and posta90 Bank charges 3,600 3,600 88 Stsff costs and trust••s remuneratlon No remuner¥lion was paod lo the trustees in the year. nor ware any trusloes, e￿nsè$ reimbursod. All duties were performed by the Iruslees th8m8efves, wth occasion81 voluntsry administrative assistance. Hence there are no staff costs lo disclw and theref(%e no employee receNed remuneration in excess of £50,(X)O. Invèstments 2021 2020 Market value at l April 2020 Addition in year Revaluation in year Maiket value at 31 March 2021 2,861,522 2.861,522 Investments al market value comprised UK freehdd propety. Historical ￿st as at 31 March 2021 80th commercial properties, whi(* account for £1,%7.LXX) of the value ol properties, were revalued on a market basi5 in 2018 by R H Newman FRICS who is independent and extèrnal lo the ¢harity. The residential propèrties, a￿Unt for £982,5tX) of the value of propert￿5, were valued by the trustees on a rental yield basis. Ac¢rued Income and debtors 2021 2020 Other debtors Accrued in￿rne 80,750 48,125 616 Cr¥ditorn ond accnkal$ Accruals Dèlerred income 4,843 48 530 3.600 10 Funds Unrestricted funds ¢omprisè Ihose funds which the trustees are free to use in accordance with the charitable objectives. The Endowment Fun¢J represents those assets which must be held permanently by thè charity. Income arising on thè endowmeni iund can be used in a¢xJrdan(* wth Ihe objects of the charrty nd is included as unvestricted income. Any capital gains or losses arising on the endowrnent fund investments form part of the fund. 11 Rèlated Porty Trants¢tions The Trust receives renlal income from a related party, BircthwLhJd Garages Limited, whith is related due to one of the truslees being a director of the company. The amounl of rental income receivable from the related party in the yearwas £142.00012020- £142,000). £35,500 (2020- £35.5001 Wds owing frovn Bircl)vnod Garagès Lld at the balance sheet date. 12 Subsequènt Events After the balance sheet date. the chatrty has acquired another residential property ￿stIng £316,831 including legal fees. This has been purchased in order to increase the chaFrVs investment income.