THE HADFIELD CHARITABLE TRUST Charity RegiStratn Number. 1067491 ACCOUNTS FOR THE YEAR ENDED 31stAUGUST 2023
The Hadfield Charitable Trust Accounts for the year ended 31st August 2023 Index Pago 1-10 T[ubl¥' IlluLl1 Rgpuri 11-13 Independent Auditols Report 14 ststement of Financial Activities 15 8alance Sheet 1&25 Noles lo the Accounts (induding Accounting Poliaes)
The Hadfield Charitsble Trust Accounts for the year ended 31st August 2023 Trustees. Annual Report The Trustees have pleasure in submiltsng their Annual Report and Financial Statements for the year ended 31st August 2023. The financial statements have been prepared in accofdance wrth the accounting policies sel out in note 1 10 the financial stslements and compty with the charilvs goveming doctjment, the Charities Act 2011 and 'Accounting and Reporting by Charibes: Stalement of Recommended Practice applicable to charities preparing their 8ccounts in accordance the Financtal Repofknng Stsndard applicable In the UK and Republic of Ireland {FRS 1021. {s8cond edin- October 2019- effective 1 January 20191. REFERENCE AND ADMINISTRATION DETAILS Tru$tee$ who sopled durfng tha ygar and on the dats tho Report was approved: Mr A T Morris- appoinleil Chair 25 July 2023 Mr R A Morris- resigned as Chair 25 Juty 2023 Mrs C F E Addison Mr D 8ailey Mr A W N Forsyth (Chaiman of the Advisory Panel- n.b. resigned from Panel and as Chair of Panel with effect from 1 November 20221 Mr B Kenny- appointed 181h Juty 2023 Mr W Rathbone- 31st Decemb8r 2022 Prlnclpal Offke: Shoestone Cottage. Gamett BrKlge, Kendal, Cumbria LA8 9AZ Charlty R•glstratlon NUmr. 1067491 Admlnlstrator to the Trust: Ms S Berriman Asslstant to the Admlnlstrator: Mrs V Accountsn. Rathbones Trust Company Limited, Port of Liverpool BuiSding. Pr He&J, Liverpool, L3 1 NW Audltor: BWM, Suite 5.1. 12 Tithebam Streèt. Liverpool, L2 20T Bankers: Rathbones Investrnent Management Ltd, Port of Liverp1 Building. Pier Head. LNerpool. L3 1 NW Investment Managers: Rathbones Investment Management Ltd. Port of Lerp1 Building, Pier Head. Lbverpool. L3 1 NW
The Hadfi¢ld Charitable Tnrst Accounts for the year ended 31st August 2023 Trust$. Annual Report STRUCTURE GOVERNANCE AND MANAGEMENT The Hadfield Charitable Trust is an unincorporated granl-maknng trust, a register charity consb'tuled under a tnJt rlp.p.d dAtgd 1 .q.ptg.rnhp.r lQQ7 Thp. TnJ¢t WA% tAll$h thmiioh thA 0onp_rn2ity nf thp latp. Mr8 Kathleen Hadfield Bibby. The Trustees hold the capital and inrne of the Trust on Unrestricted Funds lo be applied as they in their dlscretlon think fft. The Trusfs $018 activity is grant maknng. By dead dated 1st August 2010 the Trustees varied the 0Inal deed to exiend the total number of trustees al no time lo exceed eight. At the end of the financial year under review the Trusl had six trustees, each chosen for their particular skills which they bring to its gOvernar. It is considered that the Trustees beeen them have the appropriats experience and skills to fuffil the Trusys ¢)bjethes. Two of these twslees live and work in Cumbria. The Trustees paid tribute to the late Mr William Ralhbone who had been a Trustee since 1997 and whose tremendous inpul lo the Trustee meelings were aVayS gratefully re¢eNed. It was acknowledged that the work he did was invaluable and will b8 a great loss. During the period under review, the Trustees welcomed Mr 8rian Kenny as a Trustee and Mr Andrew Morris accepted the P05Tiion of Chair of Trustees, as Mr Roy Morris stepped down from this position, Mr Roy Morris was thanked for all his hard woth and effort he had pul into Ihe Trust since its inception. Tha Tnjslees held three meetings during the financial year under review. This gavo the Trustees the opportunity to discuss each grant application as well as lo discuss strategy and governance matters. The Trust's Investmgnl Manager attended all three meetings. Al its March meeting, the 2022 Annual Report and Accounts were presented lo considered and approved by the Trustees beforg being signed by the Chair in good time to meet its statutory obligations. The Tnjstees have delegated the day lo day mantyement of the Charity to the Administrator of the TrusL At eath Trusteés, meeting the Trustees decmle what awards should be made in response to grant applicalions received for consideration. The Trustees are guided in their deliberations by 8n Advisory Panel. Panel members are appointed by the Trustees who afe chosen for their knOedge of the county and rts charitab sector. There are currentty seven members on the Advisory Panel indudiro one Tfuslee, Mrs Caroline Addison. There are three Panel meetings each year, held approximatety four weeks prlor lo e8ch Trustee Meeting. These are held in person in Cumbria at a time lo suit the Panel Membern. Please note that 'Cumbri8' al the local govemment levd govemed by 'Cumberland' and Westsnodand and Furness. Councils. R•cruitinent. appointment and induction of new trustees Prospective trustees are nominated by a Trustee for the speofic skills they possess, and whid) wll be of parb¢ular benefit to the Trust. Typicalty, candidates are asked to submit a letter of application detailing their skills ar experience and then invited for a discussion with the Chairman and the Admintstralor on the work of the charity and ils history. CandKlales are then invited to attend a TTUStees' meeting and rf possible, an Advisory Panel meeting.
Tho Hadfield Charltable Trust Accounts for the year ended 31stAugust 2023 Tw$teos' Annual Report new trustee musl be elected by a majoiity of the Trustees and is provided with an induction pack containing relevant information induding a pY of the Trust L)eed. minutes of past Trustees, and Advisory Panel rneelings and the latest Annual Report and Accounts. New Twslees are asked lo rea¢J the Charity Commission guidance on the role. responsibiliti8s and ol trustees (CC3.. Tha Fntial Trustoel 2nd to visit th& Charity Commission website. Principal Risks and Un¢ertalntl¢• The Trustees have considered the major risks lo whith the charity is exposed. together with the system which havg been established lo mitigate those risks. A risk management document is in place and is reviewed eath year at the November meeting of the Trustees with a vithy to identifying any risks and ensuring thal the syslem$ aimed al mitigating those risks remain appropriate. The Trustees consider that Ihe greatest risk affecting its abillty lo carry out its objectives would arise from material negative fluctuations in the inveslment assets. In order lo mitale this risk {and in accordance with $15 Trustee Act 20001 the Trustees havè established a poly stslemenl setting out the policies for investing the funds lo guide the discretionary fund manager. This 1$ regularty reviewed and was updated during the period under review. 11 wi15 continue lo be miewed and any update disojssed with and agr88d by the investmanl manager. OBJECTIVES AND ACTIVITEES The Setllor h8d famity roots In Cumbria and a deep affectK*n for the county. In retlecting her wlshes Ihg Trustees determined that the Hadfield Chafttable Trust should primarity provide assistsnce to communty organisationy with chaTilable objectives in Cumbria, parbculady those whose Work addresses the following PriOTilie$.' soci81 needs, youth and employment. older people. the arts. and the environment. However, from time lo lime, il has. and may in the future, make grants to charities operating outs•Je the county. How th• Trust dèlivers publlc nefft through Its actlvltlm: The Trust primarily delivers public benefrt through Ihe awarding of gtants lo suitable LX)mmunity projects in Cumbria. The application process is designed lo be straKJhtlorwar(l and accessible. Al applicants and encouragèd lo discuss projects before apptying and thè Trust is keen to buihj a rapport th organisations lo help develop an effective and resillent charitable secaor. The Trust activety seeks good communty projects lo fund arKI aims to do this in various ways principally through attending the 5 annual charity funding fair5 hebj throughout the o)unty and through its website which was redeveloped working with design students al the UnNersity of Cumbria Institute of Arts. The Trust also sends fvnding plaques for display to organisations, thareby raising publ awateness of its work. There has been an increasing requirement for grants to c#)ver salaries and annual running $ts and in acknowledging the drfficuit environment many charibes are operating under the Trustees have bgen supportNe of these applications. The Trustees have also noted an in¢xease in requests for multi-year grants. The Trustees have approved these as and where appropriate.
The Hadfi¥ld Charitable Trust Accounts for the year ended 31st August 2023 Trustees. Annual Report To ensure that public benefft Is delNered wtdely and fairty. the Trustees apply a 'trwo year rule, i.e. a minimum tsvo year gap beeen the payment of awards. ThA TnJqtÉ>.% rN#lAr ArJplieAtirJn frnm nAtinnxl .hxrlli rf th.r 1% nf thA r)iJhlie t)npfit tn tho Cumhri2n cornmunity from their work. All applicants are asked lo provide a Cumbria-based referee who can vouch for that organl8ation's work in the county. From time to lime the Trustees decide to hold back the grant until certain conditions and criteria are met. The applicanl then has N¥0 years from the dale of agreement lo provide evidence that all condttions and criteria hava been m8t. At that point the pledge(l award is paKI. The as yet unpaJ pledged awards are not induded in these accounts. This principle also applies to as yet unpa*J mulli-year awar(Is. Worklng wlth thlrd partl08 to maxlmlse delIry of publk bendtt The Trustees are ay5 willing lo support organisalions which work county wide with numerous communty gTOUPS. Thg Trustees were once again happy lo support the Cumbria Community Foundation's Winter Warnilh Appeal. who worked with several AGE UK offices and Copeland Age and Adv SeThice to distrfbute funds. Perfomiance-related awards Grants are applied towards one-off projects,. however, the Truslees recognise how critical il is lo ensure tha suslainabllity of effectsve organisalion$. When considered necessary, key projects may receive MUltyear grants which are primarily aayS performance mlaled. wth subsequent payments being wholly dependent upon thè receipt of salisfaclory reporting lo the Trustees. Examples in 2022r2023 multi-year grants include awards lo Beep Doctors, Carer Support South Lakes and Lake District Cafvert Trust The Trustees also pledge awards where an addiiional condition needs to b8 fvffilled, particularty Sn the case of large capital schemes when remaining funds often need to b8 secured. These pledged awards froquently help organisations to lever additional funding. The Trustees have complied with the duty in s17151 of the Charities Acl 2011 to have due regard to the Charity Commission's Public Benofrt guidance when exercising any relevant p)wers or duti9S. ACHIEVEMENTS ND PERFORMAN Since the Trust started lo make grants in March 1998 a totsl of £6.642.472 had been donated to 2,956 ch8r¢tsble causes, mostty in Cumbria, by 31 August 2023. Page4
Th• Hadfield Charitable Tst Accounts for the year ended 31st August 2023 Trustees. Annual Report Donations mado During Itie yeaf, donation5 totalling £377.5171£346,477 in 20221 were agree¢J and paid by the Trustees. Grants ranging from £500 to £5.000 were awarded to 108 1116 in ye 31 August 20221 Charitab rAuses. The total v81u8 and proportion of grants awarded by priority type from Unrestricted Funds weie as follows." Social Naads Youth and Employment Help for the Elderty Th8 Arts Th8 Envimnm8nt 229,568 73.380 13.400 48.169 11.000 61 19 13 375.517 100 In dividing projects by priority thgre is aayS a de9re8 of overlap, p8cUlarlY under the 'S¢Xi81 Needs, priority, so prolecls can deliver benefrt to several categories such as the eldety and disabled. A lull li81 of all the donatlons made in the year Is shown within not68 to these arKounts. Rapld R•sPon Activlty The Trust is aayS wllling to meet community need in times ol advernty. ExampS8s of this in the past are during the Fool and Mouth Disease crises of 2001r2002 and again In January 2016 following Slom Desmond and the flooding thls caused. To support the area during COVID the Trustees continued with its three funding rounds, accepting appllcalions for both COVID and non Covid-related needs. IMPACT OF t>ONATIONS Soclal Ne•d Extracts from the Evaluatlon Forms retum•d to the Trnst••s fmm successful appllcants 'The people 8nd grDUPS who rentout space arB very happyandhavo agreed to continue rgnting from us in the Yea to Coll. he grant had a snfft8nt impact on the lives ofbenefiuaiies. ILXI% Ofpartpants ptsrted 8 Positive over811 experience ofthe prDgramme wth a range of leamings. th"Ils and increase in participants. self-confidence.. Yhe fvnding has enabled a greaternumber ofnIbe of the community to attend. The environment promotes physKal and emotion81 well-being 8$ the café pmvides a support ne1w0 fDrmany with multsple needs.. This is the criteria which receNes the largest number of applicalions and the Trustees were keen lo continue their long lime support for community faalites such as village halls and communty ntres, Sports clubs, and hospices. They were particularly keen to SUPPOrt several organisations provhling Nvafm hubs". cooke£l meals andlor fo(Kl and support lo
Tho Hadfield Charitable Trust Accounts for the year endod 31st August 2023 Trustees. Annual Report alleviate increases in the cost of INing. 11 was noted thal there was a small increase in applications for support for refugees moving lo the area. Youth and Employment Activities ha grnnt has hèlpéd studènts fn)m Cumbri8 8s Ih8ySt8rt 81 UniveIty with help towas IJoDks- e gr8nt has helped support children's physical acbwty which is vital in theirall-rounddevelopment, 8n8bling them to pUu happy, healthy and active Irwes." 8 smiles on tljeirfaces saidit all when th8y vi&t8d the zo) and theme part.- ApplIcaonS durlng the year under rewew ranged from support for youth groups. lo the refvrbishment of play areas, lo support for those who were vulnerable and hometess. Hadfield Trust Creatlve Travel Award 2022-23 Tha Trust was pleased that, in rA)njunCn the UnNersty of Cumbria. thé Hadfie Cffjalive Trdvel Award w8S $uceèssfully held. Thi$ scheme enable$ Cumbrian sludents an opportunity to travel lo develop their career opportunities through access lo activities that without the buary would not be possible. Each bursary is worth up 10 £500 lof up lo £1,000 lor a group application) and is awarded to Students from the Univetstys Instslute ot Arts. In the tinancial year 202212023 there were four awards were madg totalling £3.000 as follows: Lauren O'Donnell, Chrfstoph•r Foulds, Elllo W•stsll and Chloo Atrill BA (Honsl Wildllfe Medl• To create a docurnentary on the Conservation of the Orca population. Shedand. Maich 2023. Awarded £750 Lydla Hollingdal• BA (Honsl Wlldllfe Medla To create a documentary on the Eurasian Otters. Isle of Mull. 1 2023 Awarded £5CK) Sophle Stsadman, Molly Hughes & Naomi Balaita BA {Honsl Flne Art Enrichment trip to Iceland. July 2023 Awarded £1,000 lawaided by exception} Adriana Barros & Alex Noakes BA (Honsl Wildlife Media To ereate a documentary about fauna conseryation and reintroduction of notive species. Portugal April 2023 Awarded £750 Help For Th• Elderly Extracts from the Evaluation Fomis retumed to the Trustees from successful appllcants ur81m is to address problgms of isolabon and longliness anK)ng the eldety. Our aclivities pmmoted social inclusion and community srit. Although there are very few grants allocated lo this important uiteria this demographic does benefit from grants awarded under the Social Needs. Arts and Environment category. Page8
The Hadfield Charitabl¢ Trn$t Accounts for the year ended 31st August 2023 Trustees. Annual Report Arts Extracts from th¢ Evaluation Forms retumed to the Truste from successful applicants Yhe Festiv81 w8$ successful 8nd 98 indivKlualpaffjcipants tODkp8rt...............in lotal 521 1ndNalS attended.. the Gala Conc8rt.' he SoGiety was de1hted lo rnceive the grant whith enableditto commence rnheafsals .....and was pleased to welGome new membgts." e concert was a huge success. The laoe 8uthence enjoyed it immgnsely. By covering the defvl this meant that the ¢onGert covered ils costs. So we can go fonvard lo the nexf cOnrt in a stffjng8rposifyon finanGially and Con do itjustic8 thout having to play catch-up finanually tying to rBcov&rfrom pastlosses." The Tfuslees afe great supporters of the Arts and were keen lo award grants to ensure sustalnabllity and longevity. Increasingly the awards are only paid after 8 deficit can be evideneA following say a concert. Th• Envlronm8nt Extracts from the Evaluatlon Forni¥ rgturn•d to the Tru$t••s from successful applicants .500 volunteers were in the pmject which h8s crnated8 complgtely new Community In itself, new frigndships. renewed friendships." 'Tre funding liter811y re18unched the whole project." 'W8 hav8 found Ih8t the Ansulalion has made Level 4 ofthe mill warnerondas such 8 better wothing environment forour volunteer craft demonslrations.- The Trustsgs are aVayS happy to recewe applicolions under this criteria and ontiryp* the number increasing in the years lo com8. Plan for th8 luture The Trustees will continue to tsrget th[ prity categories lo maxiMe public bènefft and 8CtNety prornole the wtsrk of the Trust lo attract appropriate applicotions and effectNely meet community need. It is anticipated that requests for revenue funding to cover annual running costs and salaries along with requests for MUltyear awards will continue. There 8r8 no plans to change the application process. The Trust will continue lo monitor achievement by measuring IMM through anatysi5 of the evaluatson reporting of every successful applicant. The Trustees deuded that foTmer applicants Can only reapply rf they have evaluated previously funded projects. Anatysis of application by priotrty and location will o)ntinue to help identrfy gaps in uptake.
The Hadfield Charltable Trust Accounts for the year ended 31$t August 2023 Trustees. Annual Report Some awards in the Arts category can onty be claimed rf the event has made a deficit and the Trustees are continuing to measure the impact of this appr08ch. Tho Tru)1 will continue to develop it3 working with key organisations to rYwxrmi?¢ th¢ dtlivery of publi¢ b¢n¢frt. FINANCIAL REVIEW Income generated by investments during the year totalw £331,573 (£396.445 irt 2022) and £36,070 (£36.814 in 20221 was Spent to raise funds. The amount applied directty towards charitab18 purposes during the year. net of Tetumed donations. lolalled £375,517 (net don8titin$ made of £347.910 in 20221 and £47,018 was spent on support and govemance costs 1£45.159 in 2022). The SOFA includes the nel gains and losses arising on revaluations and disposal$ throughout the year. For the year ènded 31st August 2023 net investment losses totalled £389.874 (gains of £65.657 in 20221. There was a net d¢Grease In fvnd8 during the year ended 31 sl August 2023 of £516.gc6 {nel increase of £32.219 in 2022). The Truslees continue lo hold Unrestricted Funds. As 81 the year ended 31st August 2023 a total of £9,275.972 W88 held compared with £9.792.878 of Unrestricted Furbds h81d as al 31st August 2022. R•8ervo8 Thè Trustees do rbot consider the underfying capÈtal to be reserves sinc6 they provide the sole source of income for the Twst. The Trustees aim lo expend eath yea¢s income. nel of administration expensos, through the donation of grants with any under Of over expendtture being balanced by over or under expenditure in subsequent years. Given the above, coupled with the low annual administralive expenditure. the Trustees do not consider rt necessary lo maintain designated free reserves. Investments Th8 Trust's capital is invested in markelable investments or cash. There are no specffic restrictions undeT thg terms of the governing document. The Trustees have full discli0n over the investments. The Trustees have delegated full diserelionary day to day control of the inveslments to Rathboneg Investsment Management. Assets been ac¥uired and disposed of in accordan wth the w)wer5 available lo the Trustees. Invesknent ObjIlVe5 and Perlorn)ance The Twstees have agreed with the Investment Managers th8 objectives lo secure a reasonable growth in income, consistent with the long term preservation of capital in real terms. Investment deasions should be m8de based on the views of a prudent petson in a¢xordance with the stsndard of investment criteria relating to suitability and dlversfficalion. These objectNes are reviewed al least once a year al a Trustee meeting. Paye 8
The Hadfield Charitable Trust Accounts for the year ended 31st August 2023 Trustees. Annual Report The Trustees wish to ensure that the objectives oullined above are achieved with an acceptable risk. This implies the need for diversEficalion of investrnent by the Tru51 to indude a range of assets including fixed interest stocks, UK and oversea5 shares. Investments cvmprise holdings in the UK. larger overseas lisbj companies. unrt and investment trusts including those investing in major intemalional markets and aL80 fixed inleresl securitbes. The portfolio can ther8fore include a proportion of medium-siie¢J, or smaller, UK companies and have exposur8 to intemational markets. The Trustees are aware that significant enhancwnents have been and continue to be made to the investment process al Ralhbones which will allow a deeper underslanding of the Environmentsl, Social and Governance IESGI aspects of the investments and identify any risks associated wrth th. This development is welcomed and the Trustees will keep their position on this reviewed and the Policy Slaiemenl will updated acrdInglY should any changes lo the current objèctives be identified. Th& Investment Monagers are required lo operate within the constraints applying lo Irusl$ govèrned by the Trustee Act 2000. The performanrE of the fund ts monllored and the Tnjslees revi9w each individual asset class against 115 appropriate benchmark. The Investment Manager provides regular reports lo the Tnjstees who rovi6W the perfomance of th8 portfolio and of the Investment Manager al least three b.mes a year. The Trustees arg satisfied with the performance during the perfod under review. The Trustees are aware that signfficanl enhanoments have been and continue lo be made to the Investment process at Ralhbones which will allow 8 deeper understanding of the Enwronmenlal. Social and Govemance IESGI aspects of the ifive8tmenls and identify any risks associated with these. This development is welcomef1 and the Trustees will keep their posiuon on this reviewed ond the Policy Stslemenl wll be updated accordingty should any change$ to the current objectives be Identified. The Investment Managers are required to oFerale wiihin the constraints applying to trusts govemed by the Trustee Acl 2000. The porformance of the lund monitored and the Trustees eW each indNidual asset class against ts appropriate benChMaS as detsiled in the current PolKy StatemenL The Investment Manager provides regular reports lo the Trustees who review the performance of the portfolio and of the Investment Manager at least three times a year. The Trustees are satisfied with the perfomiance during the period under review. TRUSTEES. RESPONSIBILTIES The Trustees are responsible for preparing the Trust. Annual Report Accounts in accordance with applicable law and United Kingdom Accounting Standards IUnit&J Kingdom Generalty Accepted Acco¥Jnting Practice).
Tho Hadfi•ld Charitabk Tntst Accounts for the year ended 31st August 2023 Trustees. Annual Report The law applicable lo charities in England and Wa* requires Ihe Trustees to prepare act4)unts for each finan¢ial year which give 8 true and fair view of the slate of affai of the charity arKJ of the incoming resources and application of resoLtrces of the chanty for that yeai. In preparing these accounts, the Trustees are required to.. - select suit8ble accounting polices and then appty them consislenty". - observe the methods and principles in the Charrties SORP IFRS 102).. make judgements and estimates that are reasonable and pnjdenl.. - stale whether applicable UK accounting stsndards IFRS1021 have b8en folkM(l. subj.ect to any material departures disclosed and explained in the financial statements,. and - prepare the financial slatements on the going tnCern basis unl8SS ft is inappropriate to presume that the Charity will continue In operation. The Truslee8 are responsible for k8eping sufficient aCUnting records that disdose with reasonable accuracy al any lime the financial posrtion of the Charrty and enab them to ensure that the accounts comply with the Ch8rities Ad 2011, the Charity (Actounts 8nd Reports} Regulations 2008 and the provisions of the Trust Dee(l. They are also responsiblè for safeguarding the assets of the chatity and hence for tsking reasonable stops for the prevention and detection of fraud and other irregularitw. As gpprovqd and Slgned on behalf of the Board of Tn•$t¢es: A T Morrls Ichalmian) P•Je 10
The Hadfield Charitable Trust Independent Auditorfs Report To the Trustees ofThe Hadfield Charitsble Trusl Opinion We have audit8d the financial statemènts of The Hadfield Chaiitsble Trusl (the '¢harTVI for the year ended 31 August 2023 which comprise of the Statement of Financial Athits. the Balan< Sheet and the notes to the a¢xounts, incStsding a summary of signrficant ac¢ounling poli(ies. Th finanaal reF4Jrbng frarnework that has been appl in their preparation is applieablè law and United lfjngdom Acc4)unting Stsndards, induding Financial Reporting Standard 102 Thè Finanrial Reporting St8nd8rd applicable in the UK and Republic of ILnd (United lQngdom Generally A¢Pted Accounting Practice). In our opin¢on the financAal statewnts.. gwe a true and fair view of the stste of the charity's affairs as at 31 August 2023 and of ts irvjmlng reSoUrS and application of resources, for the year then ended.. have been properly prepared in ac¢ordan¢e wth Unrted Klngdom G8n8rdty Arpted Acc¥wnting Pr8cli¢g.' and have been prepared in accordancè vAth the requirom8nts of the Charibes Act 2011. Basis for oplnlon We nducted our aud6t In accordance wth Internathjnal Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilit under ihose standard3 #re ftjrther ¢Yes(xiW in the Audrtorfs responsibile$ for the audrt of the financial statements tion of our r¥port. We arè Indepandent of the charity in acLvrdan¢e with the ethical qUireMentS that are relevant to our au¢Jlt of thè finanual ststsments in the UK indudiThJ tho FRC'S Ethical Standard and we have fvlfillad our othèr ethical responsibilities in acwrdance with the8e wuirements. Wo b¥0 that th8 audit èv811¢9 wa hava obtained is sufficient and appropriate to provide a basis for our opinion. Concluglon5 relating to going eone•m In 8uditin9 the finanaal statements we havt (x)nduded that the trust88S' Ltse of Ihe going concern b1$ of accounting in the preparation of the financial stslements is 8ppropr¢atg. Basgd on the work we have performed, we have not idenOfi8d any material uncertainlios long to events or ¢ondition$ that, indivldually or collectNely. may cast signfficant doubt on Ihe dHritys abilty lo cx)nlinue as a going concèm fer a period of at18ast trRlve months frem when the finandal stotements are aUlhor for issue. Our responsibl18S and the respon*tylltig$ of the lrnste85 wilh Tespect to goitvJ nCern ar8 descriW tn th8 ravant sections of this port. Oth•r Infomiatlon The other infomialion Comprises of the information induded in thè annual report other than tr finandal statements and our 8udittsffs report thereon. The trustees are reswnsible for the other informarth corttsir)ed within the annual p(}rt. Our opinion on the financial statements does not cover the other info#11n and do not express any form of assurancE ndUs1O Ihereon. Our responsibilty is to read the other infom)ation and, in doing so. o)nsider vthether the other infomation is matèrially Inconsistent Yith the finan(xal statements or our knovAedge obtsined in the course of the audit, or otherwise. appears to be materialty misstated. If hlentify suth material ineonsistenaes or apparent material misstatements, we arg rgqulred to deterniine vthether thi8 gNes rise to material misstatement in ihe finan(ial ststements thernselves. If, based or¢ the work we have perfomied, we condude that there a material Mtement of this other informab"on, we are required lo report that fact. We have nothing to report in this regard. Matter5 orh whieh are rnqulred to report by ex¢¢ption Wè havè nothing to report in respe¢t of the followng matters in to whith the Charilie5 (Accounts and Reports) Regulations 2008 require us lo report to you if, in our opinion= the informab'on given in the financAal ststements is ItOrnt in any material respecl wth thè Trustees. Report.. or sufficient arunting records havè not been kept or P•Je11
The Hadfield Charitable Tnt Indgpendent Auditorfs Report To the Trusttss of The Hadfi•ld Charrtsble Trust the financial statements are not in agreement vrith the al)Unting records". or - we have not rg¢ewl all the hnfonnabon and expLinations rUlle for cmjr aud Responsibiliti05 of tru$teg5 As explained more fulty in the Statement of Trustee5' Responsiljilrbes. the trustees are responsible for the preparatFon of the financial $talements and for beiro satisfied that they give a true and fair view, and lor such intemal control as the Irustees determine 1$ Dssary to enable Ihe preparats.on ot finarrial statements that arè free from Mate81 misstatement, whether due to fraud or error. In preparing the finanaal ststements, ihe trustees are responsible for assessing the charty's ability to contrnue as a goitwJ ¢oncèm. disdosin9. as applicab, matters related lo going concem and using thg going cort<m basis of 8cts)unting unless the trustees eilher inlgnd lo cease werations. or hav• no realtsb"c attemalNe but lo <Jo so, Audltorfs r•sponglbllttl•s for th• •udlt of the finonclal ¥t•twn¢nts We havè been appointed as auditors under SectN)n 144 of Ihe char6$ Act 2011 and report In gc£or¢lane• thè Act and rgbvanl regulations made or having effect trleOr. Our ob18ct$ are lo obtsln reasonable assuTanc #brt whether the financaal statements as a whob are free from material misstatement, whether tjue to Iraud or error. and to issue an auditorfs report that in¢ludes our ¢pinion. Reasonab assurnnce is a high level of assurance. but Ls rKIt o guarant$¢ that an audrt condu¢l¥d In ¢rdanCe wth ISA$ IUKI ¥wll 8y$ d¥t¢¢t 8 matsrial misststemenl when it exists. Misststements can arise from fraud or error and are considered material rf, individually or in the aggr8ge, Ihey c¢ukl rgasonabty bg eyrectsd to influgnce tho acont)ml¢ decisions of users tsken on the basis of these financial statemen Irrègularilles, including fraud, are instsnces of non-compliance law5 and regulations. We design procodutss in Iln8 th our r$$ponslbillties, ouuined above, to detect material misstalemgnts in respecl Of irregularrties, indudin9 fraud. The extent to whh our procédures a capable of detecting irregulanties. indudiro fraud is detsiled below. The •xtent to whlch th• audlt was consld•r•d capabl• of detectlng Irregular5tles. Including fr•ud Our 8pproa¢h to klantrfying and assessing the risks of matèrial misstatement in Tespecl of irregularibes. induding fraud and non-compliance with law8 and regulation$, wag 8$ follows.. - the engagement partner ensured that the er¥Jagemenl team collectlvety had ihe appropriate c4)mpetence, ¢apabilitie$ and skills to identify or recognise non-crynpli8n¢e wth applicable la aFKI regulatK)ns; - wè identrfied the laws 8fid regulations appli(2ble to the charity through discussions wrth iTUStees and olher management; - we locused on specific laws and gUlationS whh considered may have a direct material effect on the financial statemonts or the operations of Ihe chartty, induding taxation IlSIatIOn aThJ dats protection, anbribory. errployment and haalth and safety isLath'on', - we assessed the extent of Complian with the law5 and wulations Kjenlified at)ve through making enqulrfes of management and inspeding leg81 (xiffespondènc.' and - ldtrnlrf laws and regulations wefe communKd within thè audit tèam regvlarfy and the team rna1ned alert to in3t8nces of nonacompliance throughout the audiL We assèssed tha sus¢eptibility of thg charity's finarwial slatements to material misstatemenL including obtaining an understanding of how fraud might CttUT, by.. - making enquiries of management as to where they (¥JIdered there was susceplibilty to fraud, thèir knoadge of aciual, suspected and aled fraud,. and - considering the intemal controls in pL to Mgate risks of fraud and nOrcompliance with la and regulations. To address the risk of fraud through management bias aThJ override of o)ntrols. we.. - performed analytical procedures to identify any unusual OT unextted felatiorthips; - lesled journal entries to identify unusual transa(knns-, - 8¥sess8d whethèrjudgements and a&Sumpts maje in detemiining the accounting estimates were indicative of polenb.al bias., and dye 12
Th• Hadfield Charttable Trust Ind•ndént Audltorfs R•port To th• Trust•èS of Thè Hadfidd Charitable Trust - investigated the rationa tehind signrfKant or unusual transactions. In response to the rtsk of irwularities and non-c£jMqe wilh I 8ThJ reguLqtions. esJnj procdures which included bul We not limrted lo-. - agreeing financAal statement disdosures to underg supportsng documentskn: - reading the minutes of meeb.ngs of those charged th governancs; aThJ - enquiriThJ of management as to and potential litsgation and dair There are inherent limitstsorts in our audit prcc8dur8s ate. The nb)re removed that laws and regul8tion$ are from nancial tran$action$, tho1o6s Itkely it 1$ that %Uld bgcoma awaro of non<ompliane•. Audng standardg also limit tho audit procedures required to identty non-C4)mpliance wrth laws and regulations to enquiry of the tNstèe$ and other management and the inspeGlion of regulatory and legal (L)rruw)nden, if any. Material mssètatemtsnts that aris¢ du• to fraud can b8 harder to detect than those that aiise from error as they may in¥0e delibèrate ¢Mcealment or ¢ollusion. A further de8cription of our respon8Q)ilitw i& mibbltr ¢)n th& Fin8noo1 ReportlrKJ Councll's webslte at .Th Oth•r mattér• Your attention Is drawn to thtr l¥d that th& ¢ho1ty hos pr&I 11n8nal stat8m8nts In accordance "Attountin9 and Reporting by Ch8rititis.' Slalsment of Rècommèndèd Practice applicabla to charities preparing thtrir 8¢wunts in accordance wlth the FinancAal RepoitiThJ Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended) in pferent to the Accountsng and Rep)rnng by ChaM"es.' siaiement of Rec4ynmeTrJe(I PracUc8 IssLd on 1 Apdl 2005 lch 18 referred to In the extant regulations but h8s now been vAttrwJwm. Thls has been done In order for the fin8ncial 8tstennls to proYhJe a tru8 oThJ falr WI in )rdance WU) cuffenl Ggnorally Accepted Accounlro Praclk¥. UM ofour r•port This roport 19 made solgly to lh8 charitys trus1. 178 A hndy, in ArAlne•. wth part 4 of th8 Charitie5 IAceounts and Reportsl RegUtionS 21JO8. Our ajIt work has be und8rtak8n so that mwht state lo the ¢haritys truste8s (hose mottcrs we oro requlred to state to them in an ?uditors' pOrt and for othèr pur•. To tho fv11o$t OXt•nt pgrnitt•d by law, wo do not acLept or assu resSIbl1ty to 8nyono other than th& chaiity and thè charivs trusteos ag body. for oui audit work, lor Illi¥ iewrl (K IQF the opiniorks fotrtth. O (d(ll BWM Charterèd Accountsnts statutory Auditor Sulte 5.1 12 Tithebam Str•et Llverpool L2 2DT 2910812024 Dated BWM is eligible for eppointment as auditor of tho Charity by viriue of its eltqibilty for appoinlment as auditor of a company under section 1212 ofthe CCrfnpany Act 20[. Payo 13
The Hadfiold Chorllable Trust Accounts for the year end•d 31st August 2023 stnI of fin•n¢i•l activities Unr••trlet•d Funds 2023 Total 2023 Total 2022 Notes Income from: Invostmonls Other Intsrest 328.838 2,735 328.838 2.735 396, 148 297 Total 331.573 331.573 396.445 Exponditur• on: Ralslng funds ChaTilable activities 36.070 422,535 36,070 422,535 36.814 393,059 Tt)tal 458,605 429 883 Net (lo¥sesyg8ln3 on Investments 12 {389.874} (389,874} 66,657 Net M0ment In funds 516.906 516,906 32,219 R•conclllatlon of funds: Bolonce 09 Ot 1 Septcmber 2022 9,792,878 9,792,878 9, 760,659 Balan¢• as at 31 August 2023 75.972 9.275,9Y2 9,792,878 There ar8 no acquisitions or discontinued operations in the year. The notes on pages 16 to 25 fonn part oftheBe acUnts. Paye 14
The Hadfield Charitable Trust Accounts for the year ended 31st August 2023 Balance Sheet Unrestri¢tsd Funds 2023 Total Funds 2023 Total Funds 2022 Flxed A$$¢ts Investments 12 9.200,488 9,200,4B8 9,586, 707 Totsl Flxed Assets 9.200,488 9,200,488 9.586,701 Currènt Assets Debtors Cash at bank 13 57,249 85,045 57.249 85.04S 63,692 153,975 Totsl Currgnt Assets 142,294 142,294 217,667 LlabSlltle$: Creditors.. Amounts falling due within one year 14 56.810 S6,810 11,490 Not Current Assets 85.484 85.484 206. 177 CTedltors.' Amounts falling due wkhln mor6 than one year 15 10,000 10.000 Total Not Assets as at 31 August 2023 9.275.9n 9 275.972 9,792,878 Funds ofthe Charlty Totsl Funds as a131 Au9U$t 2023 9.275.972 9.275.972 9,792,878 Approved by the Board of Trustees and signed on tts behaw on.. SE 201 A T fvlorrls (Chairman) The notes on pages 16 to 25 fom p8rt of these accounts. Pag& 15
The Hadfield Charitable Trust A¢¢ounts for the year ?ndgd 31st August 2023 Notes to the Accounts 1 Accounting Policies The Hadfield Charrtable Trust 15 a pU1C Benefft EntTty govemed by a Setuemenl Deed dated 1st September 1997 and registered in England and Wales. The prinupal address is Shoestone Cottage. Garnett Bridge, Kendal, Cumbria, LA8 9AZ. A¢Gounting Convention The accounts have been prepar&J in accordance the tharity's Constitution, the Charities Act 2011 and 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Repotting Stsndard applicable in the UK and Republi¢ of Ireland (FRS 1021" (effedNe from 1 January 2019). The acwunts are prepared in sterling. which is the functional currency of the charty. Monetary amounts in these financial statèments are rounded lo the nearest £. The accounts have been prepared on the historical cost convention, modffied lo includ8 the revaluation of investments al faif value. The principal a¢untIng poleS adopted are sel out below. The chanty has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not lo prepare a Stalemenl of Cash Flows. GoSng Concèm Al the lime of approvrng the accounts the Trustees have a reasonable expectslion that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Irustees continue to adopt the'going conrn. bo$i$ of accounting in preparing the acUnts Charltablo Fundg Unrestricted funds are available for use at the discrètion of the chartty in furtherance of their ¢haritsble objectNes unkss the lunds have been dwnaled for olhef purposes. Income Income is recognised when the charity is legally entitied to it after any perfomian¢% conditions have been met. the amounts can be measured reliabty and it is probabk that inwme will be receNed. Cash donations are recognised on rKeipL Crther don8ttons are relnised once the ch8rty has been notified of the donation, unjess perfom)ance COndonS require deferral of the amount. Income Tax recoverable in relation lo donalions received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise rf the eharity has been nolified of an impending distributs"on, the amount is known and receipt is expected. If the amount ts not known, the legacy is treated 8$ a contingent awl. All dividend income is recorded net and Includes tax dedu(Xed onty when it is repayable to the charity. Page 16
The Hadfield Charitrbk Tntst Accounts for tho year ended 31st August 2023 Notes to the Accounts Expenditure Expenditure is recognised when paid or when there ts a legal or constructive oblHJation for which it is more likely than not that a transfer of economic benefit will be raquired in settlement and the amount can be reliably measured as al the reporb.ng dale. A constructive obligation exists where the charity has communicated the eommTtinenl lo provide parbcylar goc4Js, services OT funding to the recipient by the reporting dale and there are no conditions attached lo its payment falling due after the reporbng date. Provisions for liabilsties must be recognised when either the timing or the amount of fuiure expenditure Tequired 10 5etMe the obligation Is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources is no longei required. provlslons are reversed and charged to the SOFA. Support Costs and Employoe 8on•fits All support costs and employee benefits are paid from Unrestricted FuThJs. The employees of the charrty do not accrue holKlay entiUemonL Any teminalion benefits awardèd ale recognised irnmodiately as an expense. Retlr•ment Beneflts The chafity is requir8d to provide a pens scheme for one empknyat., the Adminislratof. only. A Defined Conlrlbullori sLfi¥¢iiv wrr1rTi¥rid l¥l Auyuts(2018. Invostmgnts Investments held in the fund are Included at their martet value as follows: (a) Listed securities are valued at the mid market value rulirvj al the balance sheet dale. Ib}Lisled securities held in loreign currencies have been valued at the mld m8rkel valLFe and translated into their sterling equivalents at the rates ruling al the balance sheet date. IclGilts are valued al the mid market value wliThJ at thé Balance Sheet date and indude intefesl that h88 accrued up lo that dale. Investments are dassrfied as a red asset except when dasstfied gs a current 888el wherg the intention of the Trustees 15 to dispose of the asset and not reinvest the proceed$. Other recognised Galn$ and Losses Realised gains and losse5 on investments are cakulated as the difforence behveen sales proGeeds and their market value at the start of the year. or their subsequent cost and are charged or credited lo the Slalement of Financial Activities in the year of disposal. Unrealised gains and losses represent the movement in mad<et values during the yeaf and are credited or charg&J to the Slalement of Financial Activities Trsvming from revaluing investrnents to market valLTre at the Balan Sheet date. Taxation The Charity is not liable to income lax or txpital gains on its charitable activeS. Irrery)verable VAT is included in the asset cost or the expense to whsch r( relates. Page 17
"The Hadfield Charltsble Trust A¢Unts for the year ond¢d 31st August 2023 Notes to the Accounts Cash and cash equivalents Cash at bank and in hand is hebj to meet Short-term cash oxmmitments as they fall due rather than for investment purposes. Cash and cash equants indude cash in hand. deposits held al call with banks. other short-lerm liquid inveslments with orKJinal maiurities of months or less. Flnan¢lal Instrumonts The charity has elected lo apply the prowsions of Section 11 'Basic FinanGial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its finanual instwmenls. Financial instruments are recognised in the charitys balance sheel when the th8rty becomes party to the contractual prowsKins of the instrument. Flnancial assets and liabilities are offseL wilh nel amounts presente(I in the financial slalements, when there is a legally enforceable right lo sel off the recognised amounts and there 18 an intention to settle on a nel basis or to realise the at and settle the liability simultaneously. Basic flnanclal assets 8asic financial assets, which irtclude debtors and cash and bank balances. are initially me8sured al transaction price including transaction costs arKI are subseqyently carried al amortised cost fkn-liv¢ method unless aThangement on¥tituttss financin9 tranJoction. whefe the transaction is measured at the present value of Ihe future receipts discounted at market rale of interest. Finanual assets dassffied as reNable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially Tecognised al transaction price unless the arrangement conslilutes a financing IransaGlion. where the debt instrument is measured al the present value of the future receipts discounled at a market rale of interest. FSnancial liabllities classified as payabl8 thIn one y68r are not amortised. Debt instruments are subsequently carried at am¢ytised cost using the effectivo interest rale method. Trade creditors are obligations to pay for good5 or services that have been acquired In the ordinary course of operations from suppliers. Amounts payab are dassffied as cufrent liabilities if payment is due within one year or less. If not. they are presented as non-curn1 liabilitres. Trade creditors are recognisod initially at tran&tion price and subsequenljy measured at amortised cost using the effective interest method. Cancellation of financlal liabilities Fin8n¢ial liabilities are derecognised when the Chari$ contractual obligations discharged or cancelled. expire or are Paye 18
The Hadfield Charitable Trust Accounts for the year ended 31st August 2023 Notss to the Accounts 2 CriCal accounting estimates and judgements In the application of the charity's accounting licIes. Ihe Trustees are required to make judgements. eslimales 8nd assumptions aboth the [ryIng amount of assets and liabilrties th8t are not readily apparent from other sources. The esbmales and assoaated assumptions are based on historical experience and other factors that are considered to b8 relevant Actual results may differ from these estimates. The estimates and undertying assijmptions are revmved on an ongoing basis. Revisions lo aOUntIng estimates are recognised in the period in which the eslirnale is revised where the revision affects only that period, or in the period of the reviston and future pèriods where the revision affects both current and future periods. There are no critical accounting estimates orjudgements induded in these a¢unts. 3 Incom• from InY•stments 2023 2022 Net of non recl8imablg tax deducted at source." Overseas UK Fixed Inler8St UK Unit Trust Income UK Equitses and Income 91,197 8,220 44,080 187,703 0,190 (10.552) 106.173 2,539 52,969 226,2e4 0,026 16231 Non redaimable tsx 328,838 396,148 4 Other Income 2023 2022 Bank Interest Other Interest receive(I 2.728 297 2,73S 297 5 Raislng funds 2023 2022 Rathbone Investrnenl Management fees 36.070 36,814 36,070 36,814 P•)& 19
The Hadfield Charttsble Trust Accounts for the year ended 31st August 2023 Notss to the A¢¢ounts 6 Charitsble a¢tivitEes Grant making.. Unrestricted Funds Direct Support Costs Totsl Funds Total Funds 2023 2022 Donatlons made (note 71 Salaries {note 91 Offi¢e Gosts Govemance costs Inole 10) 375.517 375,517 29,428 4,038 13,552 347,910 27,318 2,214 15,627 29,428 4,038 13,552 375.517 47,018 422.535 393,069 7 Donatlons made An analysis of donations made from Unrestricted Funds by type is summarised as follows.. Social Needs Youth and Employment Ttte Eldemy The Arts The Environment 229,568 73,380 13,400 48,169 11,000 61 19 Total unrestricted donations 375.517 100 A full list of donations made to inslrtutions from Unrestricted Funds and analysed by type for the year.. Soc181 Needs.. ACTion with Communities in Cumbria (Voluntary Action Cumbrio) Autism Support Allerdaie & Copeland Beep Doctors (Basics Cumbrial 1 of 2 Beep Dociors (Basics Cumbrial 2 of 2 Boulh Village Hall Calderwood House- fime lo Change (We51 Cumbrial Carer Support South Lakes- 1 of 2 Carer Support South Lakes- 2 of 2 Carlisle Matters Icarlislel Distn"ct Fedefation Carlisle SwJht Support Community Club CIC Cornmuntiy Cupboard- lfjrkby Lonsda Croslhwatte & Lyth RecreatKJn Fld Trust Cruse Bereavement Support Cumbria Addi¢tions= Athise& Solutb)ns Cumbria Cerebral Palsy Cumbria Family Support Ltd - 1 of 3 Cumbria Family Support Ltd- 2 of 3 4,000 s.000 s.000 s.000 4,000 5,000 5,000 5,000 1.050 978 1.250 3.143 1.500 2.500 5.000 3.000 5,000 5,000
The Hadfield Charitable Trust Accounts for the year ondgd 31$t August 2023 Notes to the Accounts Cumbria Family Support Ltd- 3 of 3 Cumbria Gateway Limited Dementia UK Eden Carers Faffield Mill Ltd FoTd Park Commvnty Group, Ufvethn Fumess Broadcast Media CIC Fumess Mulli-culiural Communty Forum Fumess Refugee Support Grange Over Sands Communjty Lunch Great Corby Village Association Great North Alr Ambulance Service Growng Well Ltd Hospice al Home Carlisle & North Lakaland Hospice al Home Wesl Cumbria- 1 of 2 Hospice al Home Wesl Cumbria- 2 of2 Houghlon Village H811 lrthing Vale w8nder5 Cricket Club Keswick Area Food Share LaKe D¢stri¢t Calvert Trust l of 3 Lake District Calvert Trust 2 of 3 Lake District Calvert Trust 3 of 3 Lakes Malayalee Association Laurie Brewis Trust Making Spacg fvlanna House (Cumbria) fvlaryport Rescue Morland Parish Councll Newton Rigg Ltd Orton Market Hall Parkinson's Disease Support Group 1 of 2 Parkinson's Disease Support Group 2 of 2 Penrfch Cricket Sports & Social Club Penrith & Eden Refugee NeNvork Reatj Easy Morecambe Bay Right2work CIC Rookhow Rose Castle Foundation Rotary Club of Keswick 1 of 2 Rotary Club of Keswick 2 of2 Shipping Brow Gallery Sl John's Hospice North Lanc. & South CumbTS8 Upper Eden Linking Lives Vision Support Barrow & Dist. Warcop Parish Hall West Cumbria Dorneslic VKJlen Works 4 You Limited 5.000 3,750 3,000 5,000 1,574 3,000 3,500 2,000 3,000 2,500 2,000 5,000 5,000 5,000 5,000 5,000 2,400 2,500 5,000 5,000 5,000 5,000 2,000 1,600 1,000 2.911 2.500 3,000 4,900 3,000 5,000 5.000 2.500 5.000 1.500 4.000 5,000 2,000 1,012 5.000 2.500 5.000 3.000 2,500 1,000 5.000 5.000 231568 P•JE 21
Th? Hadfiald Charitable Trust Accounts for the year ended 31st August 2023 Notes to the Accounts Youth & Employment Arkwright Trust Bendrigg Trust Carfisle Key Church Walk Pr&Sch¢X)I Nursery Dep8uI UK 1 of 2 Depaul UK 2 of 2 Dislinglon Club for Young People Drop Zone Youth Projects Hadfield Creative Travel Award Heron Com Mill (Beetham) Ltd Howgill Family Centre K.E.Y Project National Youth Advocacy Service Ocean Youth Trust North Ousby Activity Committee Reading List Foundation South West Lakes District Scouts Wellness at Green Acres CIC Windermeie Science Festivals CIC Yuuiiy MiriJb Tiu¥l Youth Presence 1 of 2 Youth Presence 2 of 2 4,400 5,000 5.000 3.000 5,000 5.000 4,000 5.000 3.000 2,000 3.000 3.000 2.500 2.855 2.500 1,500 1,500 1.125 3,000 1.000 5.000 5.000 73380 The Eldedy Cockemiouth Linking Lives Cumbri8 Community Foundation- Winter Wamith Fund Keswi¢k Museum and Art Gallery Lower Holker Bowling Club Upperby Elderly Activities Group 2,000 5,000 3,O¢XI 2,000 1,400 13,400 The Arts Amblesid8 & District Choral Soaety Annie Mawson's Sunbeams Music Trust Another W8y Athorks- Art4all Boom Dang Foundation Co¢kemouth Festivals Group Cumbria Opera Group Dignity in Dementia CIC Egremonl & Are8 Regeneral)n Partnership Ltd Furness Tradition Forum Club & Soryety Grange over Sands & Distrtcl cOnrt Club Gredale Arts Horizon Sludios INW) CIC Mahogany Opera Group M8inspring Arts 1,500 5,000 2,500 2,000 1,500 2,050 4,000 2,500 2,000 500 1,220 2.500 4,000 1,400 1,000
The Hadfield Charitable Trust Accounts for the year ended 31st August 2023 Notes to the Accounts Moore Arts Millorn Mtjsiclinks Limited Pro Nobis Singers Promoting Autonomy and Change Ltd Sedbergh Festival 2000 Slavely Amateur Opefali¢ Society Westmorland Orchestra 5,000 2,278 1,500 2,000 1.500 1.000 1.221 48,169 The Environment Glaxo Ulverslon Rangérs F C Marsh Strèèt Arches & Garden CIC Watchtree Nature Reserye Ltd 1.000 5,000 5.000 11000 Total Unrestri¢ted Donations made 377,517 Returned donatSons and retracted pledges 2,000 Nel Total Unrestricted Donations made 375,517 8 Trujtoe and Key Manag?mgnt Pgr¥onnol R8muiJttrallon aiid Lwii¥n Clause 7.8 of the deed bestows power on the trustees to employ any petson, fim or company to manage or as818t In managing the day lo day running of the Tnjsl Fund upon such reasonable tems as the Trustees think fil and lo pay. enter into agreements and ffix such reasonable salary 88 the Trustees d8em proper and lo make all necessary provisions for the payment of pensnS on behalf of employees. g Pald •mployee$ 2023 2022 Gross wages Employerfs contribution lo defined contribution pension scheme 28,850 578 26,794 523 29.428 27,318 The charity is required to provide a pens¢on schem8 for one employee.. the Administrator, only. Employment lOW3n¢& redLtced Employerfs NIC cx)nlritxrtlons for the yeaf to nil. No employee received ernoluments in excess of £60,CrfJO (none in 2022). Average number of part-time employees in Ihe year. 2023 2022 Charitable acbvtties- administration and support PaB2 rJ
The Hadfield Charftable Trust Accounts for the year ended 31st August 2023 Notes to the Accounts 10 Govemance Costs 2023 2022 Panel expenses and meeting r¢ hire Accountsncy and administration fees Tax and Pension Administration fees Audit fees Insurance Legal fee 520 8.280 1,420 4,284 1, 723 4.230 1.420 5.736 1.141 540 13.552 11 D•tall¥ of ¢•rtaln •xp•nd1I• Trustee Rgmunoratlon and bgneffts None of the Trustees have been pald any remuneration or recewed any other berbefits during the year ended 31st August 2023 01 the previous financial year. Trust exp•nses No amounts were rgimbursod to ony Trl for expenses InrIj during the year endod 31st August 2023 or the prevlous finandal year. 12 Inv•stm•ntA VBIu8 8t 31K122 I8Ss atcost RoAli.$8d Untsaltsed pmc*s GaIn(LI) GaintJ(Losses) V81ue 8t 31/08f23 Overseas 3.626,034 Fixed Interest 408,967 UK Eoutiies and Income 5,551,700 14.6031 (169,2911 {382.5151 1442) 1,519 6.363 1118.986) (20,5701 1257,7581 3,502,010 466,563 5,231,915 245.938 314.127 9.586.701 560.072 556.409 7,440 397,314 9.200,488 13 Curroni assots Debtors Income Tax repayable Dividend income- XD 2023 2022 (2, 175) 65,867 57,249 57,249 63,692 P4e 24
The Hadfield Charitable Trust Accounts for the year ondod 31st August 2023 Notes to the A¢¢ounts 14 Llabilities: Creditors.. Amounts falling due within one year Accrual for grants Rathbone Trust Company Ltd 8WM HM Revenue & Customs 2023 2022 50,000 600 5.220 990 1.433 4.700 4,200 1, 157 56.810 11,490 15 Llabillties: Creditors.. Amounts falling due afterone year ArUal for grants 2023 2022 10.000 10,000 16 Flnanclal Instruments 2023 2022 Garrylng amount of flnanGlal a¥¥ei¥ Dèbt instruments receivablg within one yéar Debtors - Cash 57,249 85.045 65,867 153,975 142.294 219,842 Carrylng amount of financial Ilabilities Payable within one year Creditors Payable within more than one year - Creditors 56.810 10,333 10,000 Instruments measured at fair value through SOFA Investrnents 81 value 9.200.488 9,586, 701 17 Rolated Party Transactions Other charitable organisations of which the Trustees of this chartty have an interest in are aayS properly dedared and acknoyledged during determination of applications. If such a situation 8rrses, the Twslee with the related party interest does not partipate in the decision other than lo dartfy facEs. Amounts pahd from the Hadfield ChaTitsble Trust to any suth charitable organisations are disdosed in note 7. As at 31st August 2023 the Trustees had no interest in any charitable organisatir)n affected by the above. No other disclosures are required for the reporbThJ per. Page 25