THE HADFIELD CHARITABLE TRUST Charity RegiStrat￿n 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 edi￿n- 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 NUm￿r. 1067491 Admlnlstrator to the Trust: Ms S Berriman Asslstant to the Admlnlstrator: Mrs V Accountsn￿. Rathbones Trust Company Limited, Port of Liverpool BuiSding. P￿r He&J, Liverpool, L3 1 NW Audltor: BWM, Suite 5.1. 12 Tithebam Streèt. Liverpool, L2 20T Bankers: Rathbones Investrnent Management Ltd, Port of Liverp￿1 Building. Pier Head. LNerpool. L3 1 NW Investment Managers: Rathbones Investment Management Ltd. Port of L￿erp￿1 Building, Pier Head. Lbverpool. L3 1 NW The Hadfi¢ld Charitable Tnrst Accounts for the year ended 31st August 2023 Trust￿$. Annual Report STRUCTURE GOVERNANCE AND MANAGEMENT The Hadfield Charitable Trust is an unincorporated granl-maknng trust, a register￿￿ charity consb'tuled under a tnJ*t rlp.p.d dAtgd 1 .q*.ptg.rnhp.r lQQ7 Thp. TnJ¢t WA% ￿tA￿ll$h￿ thmiioh thA 0onp_rn2ity nf thp latp. Mr8 Kathleen Hadfield Bibby. The Trustees hold the capital and in￿rne 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 0￿Inal 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 be￿een 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 a￿VayS 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 knO￿edge 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 F￿ntial 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 mit￿ale 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 be￿een the payment of awards. ThA TnJqtÉ>.*% r￿N#lA*_r 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 unpa*J 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 delI￿ry of publk bendtt The Trustees are a￿y5 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 MUlt￿year grants which are primarily a￿ayS 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 T￿st 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 a￿ayS a de9re8 of overlap, p8￿cUlarlY 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 a￿ayS 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 s￿nfft8nt impact on the lives ofbenefiuaiies. ILXI% Ofpart￿pants ￿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 of￿￿nIbe￿ 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 Unive￿Ity with help towa￿s IJoDks- e gr8nt has helped support children's physical acbwty which is vital in theirall-rounddevelopment, 8n8bling them to pU￿u￿ happy, healthy and active Irwes." 8 smiles on tljeirfaces saidit all when th8y vi&t8d the zo) and theme part.- ApplIca￿onS 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)njunC￿n ￿ 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 bu￿ary 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 s￿rit. 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 1ndN￿￿alS attended.. the Gala Conc8rt.' he SoGiety was de1￿hted 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 cOn￿rt 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$t••s from successful applicants .500 volunteers were in the pmject which h8s crnated8 complgtely new Community In itself, new frigndships. renewed friendships." 'Tre funding liter811y re18unched the whole project." 'W8 hav8 found Ih8t the Ansulalion has made Level 4 ofthe mill warnerondas such 8 better wothing environment forour volunteer craft demonslrations.- The Trustsgs are a￿VayS happy to recewe applicolions under this criteria and ontiryp* the number increasing in the years lo com8. Plan for th8 luture The Trustees will continue to tsrget th￿[ p￿rity categories lo maxiM￿e public bènefft and 8CtNety prornole the wtsrk of the Trust lo attract appropriate applicotions and effectNely meet community need. It is anticipated that requests for revenue funding to cover annual running costs and salaries along with requests for MUlt￿year awards will continue. There 8r8 no plans to change the application process. The Trust will continue lo monitor achievement by measuring IMM through anatysi5 of the evaluatson reporting of every successful applicant. The Trustees deuded that foTmer applicants Can only reapply rf they have evaluated previously funded projects. Anatysis of application by priotrty and location will o)ntinue to help identrfy gaps in uptake. The Hadfield Charltable Trust Accounts for the year ended 31$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 disc￿li0n 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 Obj￿IlVe5 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 ac￿rdInglY 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 benChMa￿S 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 t￿nCern basis unl8SS ft is inappropriate to presume that the Charity will continue In operation. The Truslee8 are responsible for k8eping sufficient aC￿Unting 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•$t¢es: A T Morrls Ichalmian) P•Je 10 The Hadfield Charitable Trust Independent Auditorfs Report To the Trustees ofThe Hadfield Charitsble Trusl Opinion We have audit8d the financial statemènts of The Hadfield Chaiitsble Trusl (the '¢harTVI for the year ended 31 August 2023 which comprise of the Statement of Financial Athit*s. the Balan<* Sheet and the notes to the a¢xounts, incStsding a summary of signrficant ac¢ounling poli(ies. Th finanaal reF4Jrbng frarnework that has been appl￿ in their preparation is applieablè law and United lfjngdom Acc4)unting Stsndards, induding Financial Reporting Standard 102 Thè Finanrial Reporting St8nd8rd applicable in the UK and Republic of I￿L￿nd (United lQngdom Generally A¢￿Pted Accounting Practice). In our opin¢on the financAal statew￿nts.. gwe a true and fair view of the stste of the charity's affairs as at 31 August 2023 and of ts irvjmlng reSoUr￿S and application of resources, for the year then ended.. have been properly prepared in ac¢ordan¢e wth Unrted Klngdom G8n8rdty Ar￿pted Acc¥wnting Pr8cli¢g.' and have been prepared in accordancè vAth the requirom8nts of the Charibes Act 2011. Basis for oplnlon We ￿nducted our aud6t In accordance wth Internathjnal Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilit￿ under ihose standard3 #re ftjrther ¢Yes(xiW in the Audrtorfs responsibil￿e$ 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 èv￿￿811¢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 b￿1$ 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 ￿lo￿ng 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 responsibl1￿8S and the respon*tylltig$ of the lrnste85 wilh Tespect to goitvJ ￿nCern ar8 descriW tn th8 ra￿vant 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￿￿#11￿n 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 M￿￿tement 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 It￿Or￿￿nt in any material respecl wth thè Trustees. Report.. or sufficient ar￿unting records havè not been kept or P•Je11 The Hadfield Charitable Tn￿t 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 ￿ r￿Ulle 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 $talements and for beiro satisfied that they give a true and fair view, and lor such intemal control as the Irustees determine 1$ D￿ssary to enable Ihe preparats.on ot finarrial statements that arè free from Mate￿81 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