2023-03-31-accounts - The Hadley Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

The Trustees		Philip Hulme
		Jan Hulme
		Tom Hulme
		Juliet Lyon
		Kate Prideaux
		Sophie Swift
Charity Offices		'Gladsmuir'
		Hadley Common
		Barnet
		Herts.
		EN5 5QE
Auditors		Newton 8 Garner Limited
		Chartered Accountants	& Registered	Auditors
		Building 2
		30 Friern Park
		North Finchley
		London, N12 9DA
Accountants		City Tax Consultants	Limited
		Building 2
		30 Friern Park
		North Finchley
		London, N12 9DA
Bankers		Barclays Bank pic
		One Stanhope Gate
		Mayfair
		London W1K 1AF
Solicitors		Linklaters
		One Silk Street
		London
		EC2Y 8HQ
Investment	Advisers	Goldman Sachs International
		Plumtree Court
		23Shoe Lane
		London
		EC4A 4AU

						Total Funds	Total Funds
				Unrestricted	Endowment	Year to	Year to
				Funds	Funds	2023	2022
			Note		6	6	F
INCOME AND ENDOWMENTS
Donations and legacies			4				51,794
Investments			5	6,131,058		6,131,058	4,618,673
Other income			6				9,348
TOTAL INCOME				6,131,058		6,131,058	4,679,815
EXPENDITURE
Expenditure on raising funds:
Investment management	costs		7	(412,033)		(412,033)	(425,446)
Expenditure on charitable	activities		8/9	(3,812,387)		(3,812,387)	(4,216,670)
TOTAL EXPENDITURE				(4,224,420)		(4,224,420)	(4,642,116)
Net gains on investments			14		1,955,939	1,955,939	4,666,643
Net income				1,906,638	1,955,939	3,862,577	4,704,342
Transfer between funds			15	(1,906,638)	1,906,638
					3,862,577	3,862,577	4,704,342
OTHER RECOGNISED	GAINS AND LOSSES
(Losses)/gains on revaluation		offixed assets			(55,909,333)	(55,909,333)	56,706,149
NET MOVEMENT IN FUNDS					(52,046,756)	(52,046,756)	61,410,491
RECONCILIATION OF FUNDS
Total Funds brought forward					348,631,019	348,631,019	287,220,528
TOTAL FUNDS CARRIED FORWARD					296,584,263	296,584,263	348,631,019

			31S	TMARCH 2023
				2023			2022
			Note	E
FIXEDASSETS
Tangible assets			16	18,997				27,441
Investments			17	296,223,176			347,489,236
				296,242,173			347,516,677
CURRENT ASSETS
Cash at bank				359,160	1,158,879
				359,160	1,158,879
CREDITORS: Amounts	falling
due within one year			18	(17,070)		(44,537)
NET CURRENT ASSETS				342,090				1,114,342
TOTAL ASSETSLESS	CURRENT		LIABILITIES	296,584,263			348,631,019
NET ASSETS				296,584,263			348,631,019
FUNDS OF THE CHARITY
Endowment funds			20	296,584,263			348,631,019
TOTAL CHARITY FUNDS				296,584,263			348,631,019
These financial statements, were signed on their behalf		having by:	been approved	by the trustees,	dated;	I3	it--	2- 5

4.	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES				2023	2022
						6
	Other voluntary income						51,794
5.	INVESTMENT INCONIE					2023	2022
						E	6
	Income from investment properties					59,673	58,560
	Income from listed investments					5,940,544	4,561,668
	Income from cash investments					130,841	(1,956)
	Income from other investments						401
						6,131,058	4,618,673
6.	OTHER INCOME					2023	2022
	Gains on disposal oftangible	fixed		assets			5
	held for charity's own use						9,348
7.	INVESTMENT MANAGEMENT		COSTS			2023	2022
						6
	Portfolio management					389,175	405,369
	Rent collection and investment		property		management	8,539	8,284
	Property repairs and maintenance			charges		14,319	11,793
						412,033	425,446

The following	analysis	of grants, including	allocated support	costs, according	to the categories	to the categories	set
out in the Trustees'	Report	on page 3
				Total Funds		Total Funds
			Support Governance		Yearto		Year to
		Grants	Costs	Costs	2023		2022
		6	f		6		F
Crime and Justice		1,299,324	70,670	51,453	1,421,447		1,322,451
Young People		864,898	47,042	34,250	946,190		772,831
Social investment		529,000	28,772	20,948	578,720		321,346
Local		344,838	18,756	13,656	377,250		354,702
Medical		180,000	9,790	7,128	196,918		107,022
Disabilities		150,787	8,201	5,971	164,959		132,988
Hospices		86,000	4,677	3,406	94,083		101,741
International		30,000	1,632	1,188	32,820		1,103,589
		3,484,847	189,540	138,000	3,812„387		4,216,670

		, 3,484,847	, 189,5	40	138,000	3,812„387	4,216,670
9.SUPPORT AND		GOVERNANCE COSTS				2023	2022
The breakdown		of support costs attributable	to chantable	activities	is.
Staff salaries	8	Nl				172,393	125,358
Depreciation						8,444	6,332
Motor						1,422	1,766
Office						3,143	484
Travel						4,138	827
Governance	costs - Legal, audit &accountancy					138,000	146,108
						327,540	280,875

10.STAFF COSTS AND	EMOLUMENTS	EMOLUMENTS	EMOLUMENTS			2023	2022	2022
The aggregate payroll	costs were:
Wages and salanes						155,812	114,444
Social secunty costs						15,460	10,476
Employer contributions	to	pension	plans			1,321		438
						172,393	125,356
Particulars ofemployees:
The average number	of staff employed			by the charity dunng		the financial year amounted to:
						2023	2022
						No.	No.
Administration
The number of employees		who earned 560,000 per			annum	or more
(including taxable benefits		but excluding		employer's	pension	contributions)
dunng the year was as follows:						2023	2022
						No.	No
560,001 —670,000

No trustee had any personal	interest	contract or transaction	into by the charity during	the
year (2022 - Nil)
NET INCOME
			2023	2022
This is stated after charging:
Depreciation			8,444	6,332
Gains on dispoal oftangible	fixed assets			(9,348)
AUDITORS REMUNERATION			2023	2022
			F	F
Audit ofthe financial statements			5,400	4,800
NET GAINS ON INVESTMENTS			2023	2022
				6
Gains/(Losses) on cash held	for investment	purposes	(2,331,821)	(327,466)
Gains on hsted investments			2,654,019	2,643,493
Gains on other investments			1,533,741	2,350,616
			1,955,939	4,666,643

UK investment properties Services Limited.	were revalued at 3rd April 2022 by Mr. C D	. Scorer ofScorer Property
18.CREDITORS: Amounts	falling due within one year:	2023 E	2022f
Taxation and social security		1,814	1,531
Accruals		15,000	42,750
Other creditors		256	256
		17,070	44,537