THE HADFIELD CHARITABLE TRUST Charity Reglstration Numb8r.' 1067491 ACCOUNTS FOR THE YEAR ENDED 31st AUGUST 2024
The Hadfleld Charitablg Trust Accounts for the year ended 31st August 2024 Index Page 1-10 Trustees, Annual Report 11-13 Independent Auditorfs Report 14 statement of Financial Activities 15 Balance Sheet 16-25 Notes to the Accounts (including Accounting Policies)
The Hadfield Charttable Trnst Accounts forthe year ended 31stAugu8t 2024 Trustees. Annual Roport The Trustees have Flea5ure In submitting their Annual Report and Financial Statements for the year ended 31stAugust 2024, The financlal slataments have baen pr@par8d in accordance with the accounting poliGies set out in note 1 to the financial statements and comply with the charity's goveming document, the Charities Act 2011 and preparing their accounts in accordance wllh the Financial Reportlng Standard applicab16 In the UK and R@public of Ireland IFRS 102)° (second editlon - October 2019 - effective 1 January 2019). REFERENCE AND ADMINISTRATION DET ILS Trustees who served durlng the year and on the date the Reportwas approved: Mr A T Morris- Chair Mrs C F E Addison- Resigned 2nd Aprtl 2025 Mr D Bailey Mr A W N Forsyth Ms K A Jones - Appointed 3rd July 2024 Mr B Kenny Mr R A Morris Prlnclpal Offl¢e' Shoestone Cottage, Gamett Bridge, Kendal, Cumbrla LA8 9AZ Charlty Reglstration Number: 1067491 Administrator to the TrusL" M5 S Berrfman Assisiant to the Admlnlstrator. Mrs V Hewitt A¢¢ountsncy: Rathbones Twst Company Limited, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Audltor. Mitchell Charlesworth (Audit) Ltd, Sulles C, D, & E, 14th Floor. The Plaza. 100 Old Hall Street, Liverpool, L3 1 QJ Bankers: Rathbones Investment Management Ltd, Port of Liv&rpool Building, Pier Head, Llverpool, L3 1NW Investment Managars: Rathbones Investment Management Ltd. Port of Llverpool Building, Pier Head, Liverpool, L3 1 NW P8ge 1
Tho Hadfield Charitable Trust Accounts for the year ended 31st August 2024 Trustses, Annual Roport STR CTURE GOVERNANCE AND MANAGEMENT The Hadfield Charitable Tru5l is an unlnGorporated grant-making trust. a registerad chaiity constituted under a trust d8ed dated 1 September 1997, The Trust was established through the generosity of the late Mrs Kathleen Hadfleld Bibby. The Trustees hold the capital and income of the Trust on Unrestricted Funds to be applied as they in their discretion think flt. The Trust's sole actlvity is grant making. By deed datad 1st August 2010 the Twstees varied the original deed to extend the total number of trustees at no tim9 lo exceed aight. At the end of the financial year under review the Trust had seven trustsas, each chosen for their particular skills which they bring to tts governan. It is considered that the Trustees between th8m have the appropriate experience and skSlls to fulfil the Trusys obleotives. Three of these trustees liva and work in Cumbria. The Twstees wish to record their gratoful thanks to Caroline Addi8on for all her hard work and efforts on behalf of the TNst. She jolned tha Advisory Panel in Oclob8r 2004, was appointed a Trustee from July 2010 and worked as the Trust Administrator for 5 yearB, being at all times a lively, insightful and valuable contrlbutor. Caroline's local knowledge of th8 wort don8 by chaiiiies had prov6d invaluable and had been a great help when making grant decislons, During thg period under review. th8 Truste8s welcomed Karen Jones as a Trustee. Th6 Trustees held three meetlngs during the flnanclal year under review. This gave the Truste8S the opportunity to discuss each grant application as well as to disGUSS Stratsgy and gov8mance matters. Th8 Trust's Investment Manager attended all three meetings. At ils March meeting, the 2023 Annual R&port and Accounts were presented to oonsidered and approved by the Trustoes before being signed by the Chair in good time to meet its statutory obligations. The Trustoes have delegated the day to day management of the Charty to the AdmSnlslrator of the Trust. At each Trusteas, meeting the Trustees dec1de what awards should be made In ponSe to grant application8 received for consideration. The Trustees are guided In thelr deliberalions by an Advisory Panel. Panel m@mbers who all live Sn Cumbria, are appointed by the Trustees and ar8 chosen for their knowledge of th8 county and 118 charitable sector. There are currently seven members on the Advisory Panel. The Panel is chaired by a Trustee, Ms Karen Jonos. There are three Panel meatings each year, held gpproximately four weeks prior to each Truste6 Meetlng. Thesa are hgld in person, in Cumbria, at a tim8 to suit the Panel Members. Five Trustees attended the Advisory Panel meeting in Jun8 2024 to show their appreclatlon of the Panel mernberfs work and to better understand how they reach thoir r&commendations. Please note that 'Cumbria' at the local government level Is governed by 'Cumberland' and Westmorland and Furness, Councils. Re¢Nltment, appointment and Inductlon of new trustoos Prospective trustees are nominated by a Trust66 for the specific skills they possess, and whiGh will be of particular benefit to the Tmst. Typically. candidates are asked to submit a letter of application detailing their skllls and axp8rience and then invited for a discussion with the Chairman and the Adrninistralor on the work of the charity and its history. Candidates are then Invited to attend a Trustees, meeJng and if possiblo, an Advisory Panel meeting. Pag6 2
The Hadfigld Charitsble Trust Accounts for the year ended 31stAugust 2024 Tru8tses' Annual Report naw trustee must be elected by a majority of the Trustees and Is provided with an induction pack wntaining relevant information including a copy of the Trust Deed, minutes of past Trustees, and Advisory Panel meetings and the latest Annual Report and AunIs. New Trustees ar8 asked to read the Charity Commisslon guidance on the role, responsibilities and conduct of trustaes (CC3: The Essential TrLJStee) and to vlsit thg Charlty Commission website. Prfnclpal Risks and Uncortalntles The Trustaes have considered the major risks to which the charity Is exposed, tog&ther with tha system which have been establish6d to miligat6 those risks. A rlsk management document is in pla and is ravi@wed each year at the Nov6mb8r me8ting of the Truslees with a view to identtying any new risks and ansuring that the systems almed at mitigating those risks remaln appropriate. The Trustees Consider that the greatgst risk affecting its ability to carry out objectives would arise from a serlous shortFall In Its annual income caused by, for example, a collapse of share value as a result of a major International financial clS1S. In orTler to mitigate this risk (and in aGcordance wlth s15 Trust8e Act 2000) the Trustees have @stablished 8 policy statement for the Investment of ft]nds for the guidance of the disoretionary fund manager, which is revi8wed 8nnually in line with investment performance. The Trustees do not feel that It Is necessary to establlsh reseNes to enabl8 them to smooth fluctuations in income. OBJECTIVE AND ACTIVI The Settlor had family roots in Cumbria and a deep affection for the county. In refiectlng her wishes the Trustees determined that the Hadfield Charitable Trust should prlmarily provide asslstance to community organisations with charitable objectives in Cumbria, particularty those whose work addresses the following priorilies: social needs, youth and employment older people, thg arts. and the environment. However, from time to time, it has, and may in the future, make grants to charities operating outside th8 county. Concentrating on Cumbria was first reporled to and agreed by the Trustees at its inaugral meeting in October 1997. For the year under review, the Trustees agr8ed to ontinue to support causes in Cumbrla. How the Trust dolivers publlc bengfit through its actNitio8: Tho Trust primarily delivers publlc benefit through the dlstribution Df income generated from ils capital funds by making grants lo suitable cornmunty projects. In line with the wishes of the Settlor the awards were principally made for the benefft of Communities in Cumbtla. Tho applicatlon process is designed to be stra5ghtf0ard and accessible. All applicants are encouraged to discuss projects before applying as the Twst is keen to build a rapport wtth organisations to help develop an effactive and resllient charitabl@ sector. The Trust actively seeks good community projects to fvnd and aims to do this in varlous ways principally through attending the 5 annual chgrity funding fairs held throughout the county and through its website which was redeveloped working with d8sign students at the Unlversity of Cumbrla Institule of Arts. The Trust also sands funding plaques for display to organisations, thereby raising public awareness of its work. Page 3
The Hadfleld Charitsble Trust Accounts for the year ended 31stAugu5t 2024 Trustees, Annual Report One highlight was to support the Kepplewray Twst with a £17,000 grant to bulld an outdoor shelter at their premises at Broughton-In-Furn@ss. Ms Karen Jones (Trustee) and the Trust Administator attended the opening event. This shelter supports everyone involved at Kepplewray.. staff, tea¢h8rs and partlcipants. The Trust@88 continue to receive requests for multi-year grants. The Trustees have approv these as and whère appropriate. To ensure that public benefit is delivered widaty and fairly, the Trustees apply a 'tsvo year rule, i.e. a minlmum tsvo year gap beiween the payment of awards. The Trustses consider applI(tionS from national charities if there Is evidenc& ofthe public b8n8fft to the Cumbrian communlty from their work. All appli1nts are asked to prOVe a Cumbria-based referee who can vouch for that organisation's work in the county. From time to time the Trustees decide to hold back th& grant until certain condltions and criterla are met. Th8 applicant then has two years (unless advised Oth&Il8e) from th8 date of agreement to provide evidence that all conditions and critaria have been met. At that point the pledg8d award is paid. Working w5th third parties to maximi5e dellvery of public beneflt The Trustees are always willing to support organisations which work county wid8 With numerous community groups. The Trustees were On again happy to support the Cumbtia Community Foundation's Winter Wamith Appeal. who warked with several AGE UK offices and Copgland Age and Advice S6rvice lo distribuEe funds, Perfommnce-related awards Grants are applied towards one-off projects- however, th8 Trustees recogniso how critical it Ss to ensure the sustainability of effecllve organisations. When considered necessary, key projects may receive multkyear grants which are always performan related., subsequent paymants being wholly dependent upon the receipt of satisfactory reporting lo the Twst2es. Examplas in 202312024 mulli-year grants indude awards to Citlzens Advice Allerdale; Sprfngfield DomestlG'Violenca Support in South Lakeland,. Time to Change and the Westmorland Youth Orchestra. The Trustees also pledge awards where an addltlonal condition needs to be fulfilled, partlcularly in the ca80 of large capital schemes when remaining funds often need to be secured. These pledged awards frequently help organisatlons to l@ver additional fundlng. The Trustses have complied with the duty in s17(5) of the Charitiés Act 2011 to have du8 regard to the Charity Commission's Publlc Benefit guidance when exercising any relevant power3 or duties. ACHIEVEMENTS AND PERFORMANCE Since the Trust started to make grants in March 1998 almost £7mllllon has beon donated to ovor 3,000 charitable causes, mostly in Cumbria, by 31 AL5gu512024. Page 4
The Hadfield Charitable Trust Accounts for the year ended 315t August 2024 Trustees. Annual Report Donations made During Ihe year. donallons totalling £357,256 (£377,517 in 2023) wer8 paid by the Trust. Grants ranglng from £350 to £17.000 were awarded to 123 (108 in ye 31 August 2023) charitable causes. The total value and proportton of grant8 awarded by priorSty type from Unrestrictad Funds w8re as follows.. Social Ngeds Youth 8nd Employment Help for Ihe Elderly Th8 Arts The Environment 129,528 151.128 14,579 40.800 16,720 37 12 352,755 100 In dlviding projects by priority there is always a degree of overlap, particularly under the 'Swia5 Ne8ds' prioriiy, so projects can d6liver benefit to several categories such as tha eld8rty and di8abled. A full list of all the donations mad8 in th8 year is shown wlthln the notes to these accounts. Rapid Response Activity The TTUSt is always willing to meet community ne8d In times of adversity. Examples of this In the past are during the Foot and Mouth Disease ClTS88 of 200112D02 and again In January 2016 following Stomi Dasmond and the flooding this caused. To support the 8rea during COVID the Trustees continued with its three funding rounds, aCplIng applications for both COVID and non COVI D-relaled needs. IDJIPACT OF DONATIONS Social Need Extracts from the Evaluatlon Forms returned to the Trustees from successful applicants The installation has made the p8vylion a far MO usgabl8 spac9, not Just for tft8 ciyckot club but for other users 8nd the local Gommunify. We rlow have lighting and hoatlng, as W811 as showering f8Gilities and prDp&r catering facillties which wlll allow lis to uso Ihe sp8C8 to rjo some fund raising to help with continued impmvements" 'Thg work has nsfOrMed th8 halls making tham a wam79r &nd brighfer spaGe. We have inore8sed the numbar of user gmups and oncg a month org8niso wami spot meal for between 35-4Q of all ages." Wo havg woA(ed very h8nY fo fran to the standanls of H M Coastguanl in order to pass and be r6cognis8d as an °additionai fattility". W6 are very proud to have passed all our requiMentS by th8 Coastguard.. Page 5
The Hadfleld Chartlable Trust Accounts for the year ended 318t August 2024 Trustaos, Annual Report This is the criteria which In past years has receivad th8 largest number of applications although this was not the case in the year under revi@w. However the Trustees continue Ihelr long time support for communlty facilities such as village halls and communlty centres, sports clubs, and hosplces, Youth and Employmont Actlvltles he young peopl8 We ssked to take notioe of thelr s8nsgs throughout fh8 sidentIal, to increase their connecbon to nature and empower thom to notice thelr surroundings ai?d as 8 rasult, USES natur8 connectlon as a tool to impnjve t17eir wellbeing. In tum helplng them to und8r8tand how thgy oan take care of fheir mental h8alth 8nd wort( on their resllience 8nd coping strat8gles and c9mgnt r8Yalionships with thoirpeers.. We had lost numwous sewice us&rs bocausa thgy could not attend provisions upstwrs - this gnI wll St01? SgNloe usel3 and allow new users with mobllAtyproblams to attgnd.. ' Our aim is to support young people from dlsadvantaged backgmund4 providing a sens8 of belonging, positive wellbeing and a commilmenl to leaming- maMng a real drflenc0 to thelr qualty of lifg.. Applications during the year under review ranged from support for youth groups, to the refurbishment of play area5, to sponsoring a student taking part In the Arkwright Engineering Scho18rship scheme. It was noted that the largest number of grant5 was paid to support Youth and Employment Activities. Hadfiald TruBt Creativo Travel Award 2023-24 This is a trav81 award given to students to enhan their studies in creatlve arts. The award is managed by Ihe University of Cumbria with a Trustee and a small number of the Advisory Panel members taking patl in the decision. Each appllcant gives a presentation which has to include a breakdown of costs and the reason they wish to travel. For the 2D23124 a total grant of £2,150 was awarded. Abby Doran l BA IHons) Illustration Level 6 | awarded £500 To travel to Krakow, Poland independently to visit a range of museums, galleries and places of cultural interest as personal enrichment. Peter Howarth l MA Creative Practlco l awarded £500 To produce a shorl film about caving in Yorkshire for enty into the Kendal Mountain Film Festlval and to further develop his cavlng 8kills to become a voluntary member of the Cumbria Ore Mines Rescue Unit. Megan Richards l BA (Hons) Wlldllfe Media Level 4 | awarded £750 To travel to Southern Spain in June 2024 to research, film and produce a documentary of the Iberian Lynx. This film was shown to both the Advisory Panel and Trustegs. Jil Schoenegger l BA {Hons) Illustration L6vol 61 awarded £400 To attend the Vertax C¢Mference. London in April 2024 to gain knowledge and contacts from Industry profossionals on how to advanca her career in th8 f181d of illustration and Concept art. P8ge 6
The Hadfield Charltablo Trust Accounts for the year ended 31st August 2024 Trustses, Annual Report Help ForThe Elderty Extracts from the Evaluation Forms retumed to the Trustees from SUGcessful appllcants "Th& impact of this loGal befri9ndin9 servioe hss been hugely significant.. Although there are very few grants allocated to th18 important criteria this demographic does benefit from grants awarded under the Sc¢lal Needs, Arts and Environment C8tegory. Arts Extracts from the Evaluation Forms returned to the Trustees from successful applicants hi18t the audience was smaller than we had hopad, thos6 who cam8 W817t away vgry hsppy and cheprful.. in fact, I r6rrived comments like, 'That was tho best conc8rt the MusiG SDC18fy has arr8nged.' We had a fantastic day meeting up and singi1 with Choi 8nd individusls fmm acn)ss Cumbria.. "Tre 2023 foslival was a gr88t SUCC8ss. Taknng place over 10 days, 37 fantastlG events W6 pr6sGntgd t0 8 lyve audienGe th many joining r8n70t8ly online. This festival demonstrated a consolidation of r8COV8ry from lockdown, surpassing the previous years, attendance fjgures. 2023 was also a big hti ft)r our famlly programming followlng 2 pr6vious ypars of gmwth for fhls new strand of aGtivlty." Tre frustees are great supporters of the Arts and were keen to award grants to ensure sustainability and longevity. Increaslngly the awards are only paid aft&r a deficit can be Bvidenced following, Say a concerL The Envlronment Extracts from the Evaluation Fornis returned to the Trustees from su¢¢essful appllcants .24 oanISatIonS attended (throughout the year) bringing wlth them a total of ITO p8ttscipants with leaming difficulties, physiGal disabilty, SEND and other additional needs. W8 csrrigd out a range of acfivilies of 8 bushoraft and foSt sch(K)I afure Incliiding den btiilding, lighting slalls, pond dipping, cooking on an ope17 fire, climbing tr8es, using slaGk Iln&8, arnnGkS and swlngs, bug hunting sndplaying in the woods" The Trustees are always happy to receive applications under this criteria and noted a number applylng for grants for solar panels or equipment to ruce heating bi118 in community building5. Plans for the futuro The Trustees will continue to tsrget thelr priority categories to maximise public benefit and 8CtiV8ly promote the work of the Trust to attract appropriate applications and effectively meet community need. It is antlcipated that requests for revenue funding to rx)ver annual running costs and salarie5 8long with requests for multi-year awards will continue, There are no plans to change the application prosS. Page 7
The Hadfield Charitable Trust Accounts for the year ended 31stAugust 2024 Trustees. Annual Report The Trust wlll continu8 lo monitor achievement by measuring impact through analysis of the evaluation reportlng of every successful applicant. The Trustees decidod that fomier applicants can only reapply if they have evaluated previously funded projects. Ana5ysis of application by priority and location wlll continue to help identlfy gaps in uptake. Some awards in the Arts category can only be claimed if the went ha8 made 2 d&ficit and the Twstees are contlnulng to measure the impaot of this approach. The Trust will continue to develop Its working with key organlsations to maximiso the dellvery of public b@n@fit. CIAL REVI Income g8nerated by investments during the year totalled £335.199 (£331,573 in 2023) 8nd £35,794 (£36,070 in 2023) was spent to raise funds. The amount applied directy tow8rds charitable purposes during the year totalled £406,011 (£422,535 In 20231 of which £53.258 was spent on support and governance costs <£47,018 in 2023). The SOFA includes the net gains and losses arising on revaluations and disposals throughoth the year. In th year ended 31st August 2024, net Investment gains btalled £557,435 (losses of 89,874 in 2023). The net increase in funds during the year ended 31st August 2024 was £450.829. The Trustees held £9,726,801 of Unrestricted Funds as at 31st August 2024. compared with £9,275,972 held as at 31st August 2023. All Funds held at the financial year-end were Unrestricted in nature. Reseryos The Trustees do not consider the underlying capital to be reserves sinco they provide the sole sourcg of income for the Trust. The Trustees aim to expend each yearfs income, net of administration expenses, through the donation of grants with any under or ov9r expenditure being balanced by over or under expenditure in subsequent years. Glven the abovo, coupled wlth the low annual administrative expenditure, the Trustses do not consider tt necassary to malntaln designated treo reseNes. As explained under the sectlon of 'Rapid Response ActSvily" the Trustees from tlme to lime raspond to a particular crisis or opportunity by agreeing to donate an appropriate sum possibly outside of the 3 funding rounds to meet that noed. although no such event occurred durlng 202312024. Invoslments The Trust's capital is Invested in marketable investments or cash. There are no specific strIctl0nS under the terms of the governing document. The Trustees have full discretion over the investments. The TnASt@es have delegated to Rathbones full discretionary day to day control ctf th6 investments. Assets have b@en acquired and disposed of In accordan with the powers available to the Trustees. Page 6
Tho Hadfield Charltsble Trust Accounts for the year ended 31st August 2024 Trustees. Annual Report Investment Objoctives and Performance The Trustees have agreed wilh the Investment Managers th@ objectives to secure a reasonable growth in income, conslstent with the long term preservation of capital in real terms. Investment decislons should be made based on the views of a prudent person in accordance with the standard of investment critoria relating to sullability and diversification. These objectivas are reviewed at least once a year at a Trustee meeting. The Trustees wish to ensure that the objectives outlined above are achieved with an accaptable risk. This Impli&s the need for diversification of Snvesthient by the Trust to include a range of assets including flxed interest stocks, UK and overseas shares. Inv@stsMents comprlse holdings in the UK, iarg8r overseas listad companies, unit and investment trusts Including those investSng in major intemational markets and also fixed int8rest securities. The portfolio can therefore inGludo a proportlon of medium-slzed, or small&r, UK companies and hav@ 8xposure to internallona5 markets. The perfornianc9 of the fund is monitored and th8 Trustees review each individual asset class against its appropriate benchmark. The Investment Managers ar8 requir8d to operate wlthln the constraint5 applylng to twsts govarned by th8 TnJ8tee Act 2000. The Investm6nt Manager provldes regular reports to the Trust&es who review thg p8rfOrMan of the portfolio and oftho Investment Manager at least three times a year, They consider that thelr parformance during the period under review was satisfactory. Th8 Trustees are aware that significant enhancements havo be&n and continue to be made to the investhent process at Ralhbones whlch wlll allow a deeper understanding ofthe Environmental, Social and Governance (ESG) aspeGts of the investments and identify any risks associated with these. This d@velopment is welcomed and the Trustees will keep their posltlon on this reviewed and the Policy Statement will be updated accordingly. Page 9
The Hadfleld Charltable Trust AcGounts for the year ended 31stAugust 2024 Trustees, Annual Report TRUSTEES. RESP NSIBILTIE The TwsteeB are responsible for preparlng the Trustees, Annual Report Accounts in accordance with applicabte law and United Kingdom Accounting Standards (United Klngdom G@nerallyACpted Accounting Practice). The law applicable to charitses in England and Wales requires th@ Trustees to prepare accounts for each financtal year which give a true and fair view of th6 State of affairs of the charity and of the incomlng resources and spplication of resources of the charlty for that year. In preparing these accounts, the Trustee8 ara r8quired to- seleGt sultable accounting polic&s and then apply them consistently. obseNe tho methods and principles in the Charitles SORP (FRS 102)., makejudgements and estimates that are reasonable and prudent., slate wh8th@r applicable UK accounting standards <FRS102) have been follow, subject to any materlal departures disclosed and explained in the financlal statements., and prepare the flnanclal statements on the going concern basis unless it is inappropriate to presume that the Charity will cclnue1n operation. The Trustees are responsible fcjr keeping sufficient a0unI1ng records that disclose with re8sonable accuracy at any Ilme th8 financial position of the Charity and enable them to ensure that the ount5 comply with the ChatTbGs Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. Thay are also r6sponsible for safeguarding the assets of tha charity and henc8 for taking reasonable steps for the prevention and detection of fraud and other irregularlties. As approved and slgned on behalf of tho Board of Trustèes: IL1411£ A T Morris Ichairnianl Pag&10
The Hadfleld Charltable Trust IndÈpend8nt Audltor's Report To tho Tru8tse$ of The Hadfield Charitable Trust Oplnlon We have audlted the financi81 statements of The Hadfield Charitsbla Trust (the 'chariVI for tha y8ar ended 31 August 2024 which comprise of thé Statement of Financial Activities, the Balance Sheet and the notes to thè accounts, includlng a summary of signific3nt accounting polldas, The financigl r8POrtlng framework that has be&n applied in their preparatlon is applicab19 law and Uniled Kingdom Aooounting Standards, including Financial R8pDrtlng Standard 102 The Financlal Reporting Stgndard applicable in thè UK and Republic of Iraland (Uniled Kingdom Generally Accepted In our oplnion th8 financlal gtat&ments'. give a true and fair view of the stat& of the charity's affairs as at 31 August 2024 and of its Incoming resources and application of r6sources, for the year then ended., have been propèrly prepared in accordance with Unit8d Kingdom Generally ACpted Accounting Pradlce; and have been prepared in accordan wlth the requirements OF thè Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intornatlonal Standards on Auditlng (UK) (ISAS IUK)} 8nd applicable law. Our responsibilities under those standards ar8 furlh8r described in the Auditor's responslbllities for the audit of th8 financial 8t2tem8nts section of our report. We are Independent of the chartty In accotrjance with th8 8thical r&quiments that are relevant to our audlt of th8 financial stat8menls in the UK, including the FRC'S Ethlcal Standard and wa have lfilled our other éthical responsibilities in accordance wtLh these réqulremgnts. We believe Ih8t thg audit evidence we have obtalned Is suffici8nt and appropriate to providg a basis for our opinion. Concluslons relang to going concem In audiUng the finanal statentS we have conclud8d that the Irustees, use of the going concern basls of accountlng In the preparation of the financial statements is appropriate. Ba86xI on the work we have performed, we havè n(rt Identifiad any material .uncgrtainli8s relating to event5 or Condllons that indlvldually or co118Ctwely, may c*st significanl doubt on the charlty's abilty to conlnu8 as a golng concarn for a period of at least tsvelve months from when the financial statsments are authori8ed for issue. Our responslbilieies and the r8sponsibilities of the tru8tses with rBspect to going concem ore described in the rèl&vant sections of this reporL Other inforniatlon The other information comprtS8B Of the infomation Included in the annual report other than the finanttlal statements and our auditor's report thereon. The trustees are rèsponslble for the other information Contained within the annual reporL Our opinion on th6 financial statements does not cover the other information and w& do not express any fomi of assurance conclusion thereon. Our rgsponsibilily 18 to read the other information and, in doing so, consider wh8ther the other information 18 materially inconsistsnt wth the financl81 slatem&nts or our knowlèdgè obtained in the course of the audit, or otherwise, appears to be materialty mlsstaled. If we identify Such rnatsrial inconsistencies or apparant matarlal misstatements, we are required to determlne whether this gives rlse to material mi88tat&ment In tha financial stalementB themselves. If, based on th& work we have parfomied, we conclude th8t there is a material mtsststement of thls oth&r infomation. we aEB required to report that fact. We have nothing to report In this IBg2trl. Matters on whlch wa are requlred to report by exception We have nothlng to report in respect of the following maltets in rèlatlon to which Ihe Charities (Accounts and Reports) Regulallons 2008 requlre u8 to report to you if, in our opinion,, the infomialon glven in the financlal statgmants is inconsistent In any material respect with the Trustees, ReporL or suffKient 8ccounting COrdS h8ve not en kept., or Page11
The Hadfield Charitable Trust Independent Audltor's Report To tho Trustees of The Hadfleld Charilable Trust the financial statements are not in agreement with the accountlng records., or we have not received all the informatlon and explanations wo require for our audil. Responslblllties of trust9è8 As explained more fully in th9 Statament of Trustae8' Rèsponsibililie8, the trustees are reSnsIbl8 for the preparation of the financial stat6ments and for boing satisf5ed that they glve a true and falr vlaw, and for such internal control 88 th8 trusts8s determine is necassary to enable the pr6paration of financial statsments that are frae from material misstat6ment, whether dua to fraud or error. In preparing the financial statsments, tha trust6es are responsible for assessing the charlws ability to continuè as a going ttoncern, disclosing, as applicable, matters related to golng concern and uslng the going concern basis of accounting unless the tTUStees ellher intend lo cèase owrations, or have no realistic alternatlve but to do so. Audltor'8 responsibllltles for the audlt of thg flnanclal 8tatsm8nts We havè beon appointed as auditors under Section 144 of the ChartE18s Act 2011 and report in accordance with the Act and relevant regulations rnadè or having 8ff8cI thareund8r. Our )ctiveS arè lo obtain r8asonabla assurance about whether the firrancial staternents as a whole are free from materi81 misstst8rnenl, whether due to fraud or error, and to issue an auditor's r@wrt that includes our oplnion. Reasonable assurance is a hlgh 18vel of 8ssurance, but is not a gu8rantee that an audit conduGtsd in accordance with SSAS IUKI will always detect 8 material misststemant when it exists. Misstatements can arise from fraud or error and ar@ consld8rgd mat8rial if, individually or in the aggregate, they could rèasonabty be eX1ct to influence the economic decisions of users taken on th8 basis of the8e fin8ncial statements. Irregularities, includlng fraud, are in8t8nces of non-complian with laws and regulations. Wè deslgn procedura8 in line with our responsibilities, oullined above, to detect materlal mlsstatements in re8PeCt Df irregularities, including fraud. The extent to which our procedures ar8 capable of detecting irregularities, Including fraud is datalled b61ow.' The extent to which the auditwas consldered capable of datectlng Irragularltie8, Including fraud Our approach to identifying and assessing the risk8 of material misststement in respect of irregularitias. Includlng fraud and none0mplianQe w5th laws and regulaonS, was as follows.. - the angagoment partner ensured that the engagement team collectfvely had tha approprlatg competenc8, capabilities and skills lo identify or recognise non-compliance with applicablg laws and regulations., - we identified the laws and regulations applieable to the charity through dlscussions with trustees and other management. - we focused on 8peclflc laws and regulation8 which we consldered may h8ve a dlrect material effect on tha flnandal statements or the operaliong of tha charlty, including taxation laglslation and data protection, antrbribery, employment and health and safety legisEalion', - we assessed the extènt of compliance with tha laws and regulations Identifi above through making enquirlès of managament and inBpecting legal corresponden,, and identified laws and regulations wer& oommunicated thin the audit team regularly and the tsam remalnod alert to instancas of non-compliance throughout the audit. llve a5se8sed the susceptibilty of thé charlty's financial statèménts to material mi88tatem8nt, including obtalning an understanding of how fraud might occur, by.. making enqulrfes of rnan8gement as to whete they conslder&d Ihefft was susceptibility to fraud, Ihelr knowledge of actual, suspected and alleged fraud., and considering the internal controls in placè to mlligate risks of fraud and non-comp15an with laws and regulatlons. To address the risk of fraud through management bia8 and override of controls. we.. parfotmed analytical procedures lo identify any unusual or unexpected rèlationships., tested journal entr(8s to identify unusual transactions-, - assess whetherludgements and assumptions made In detsrmining Ihe accounting estimates were Indicatlve of pot8ntlal blas,. and Page 12
The Hadfield Charltable Trust Independent Audltor's R8POrt To thg Trustees of The Haflfleld Charitable Trust inv9sllgatsd the rationale bghind slgnlficant or unusual transactions. In re8ponse to the risk of irregularltlès and non-compllance with laws and regulations, we designed procedures which included but wgre not Ilmlt@d to: agreelng financial slatemant disclosurès to und6rlying supporting documenlatlon., reading the minutes of meetings of those chargad with governance,. and enquiring of managoment as lo actual and potential litigation and Glalms. There arè Inherent limltatlons in our audit procedures de5crlbed above. TSE mor8 rémoved thal laws and régulations are from financial transactions, the les8 likèty Ik Is that w& would become aware of non-complian¢e. AudSting standards also IlmlL thg audlt procedutBS required lo identify nOn-¢ompllan with laws and ragulattons to enquiry of the trustees and otr man8gement and the insp6otlon of regulatory and18gal cortBspondence, if any. Material misstatements that arfse du& to fra can b8 harder tD detect than those that arise from error as th8y may invoSv8 delib8rat8 concealment or collusion. A furthar description of our re5ponslbllities is available on th& Financial R8porting Council'3 webslte httpJlwww.frc.org.uklauditorsrBsponsibilities. This description fomis part of our audltols report. Other matters Your attention is drawn lo the fact that the charity has prepared financial statements in accordance wlth "Accountlng and R8PDrtlng by Charities.. Statement of Re¢ommended Practice opplicabla to Char88 preparing tsir accounts in accordance with the Financlal Raporting Standard applicable in the UK and Republic of Ireland (FRS 1021" las amended) in pr&f6tence to the Accounting and Reporting by Charities: Statemènt of Recommended Practi1 i8su8d on 1 April 2005 whlch is referred to in thè extant wulation8 but has now been withdrawn. This has baon done in ord8r for the financial Statements to provlde a tNe and fair vlew In accordance with current Generally Acc8pled Accounting Practice. Use of our report Thi8 report is made solely to the charity's trustees, as a body, In accordance wtth part 4 of the Charities (Accounts and Report5) R8gulations 2008. Our audit work has been undertaken so that we might stats to the charity's trustee8 those matters we are required to state to them in an audltors, report and fDr nD Dth8r purpose. To the fullest extent permitted by law. we do not accept or ume responsibility to anyone other than the chartty and the charity's truste88 as a body, for our audit work, for this report, or for thg opinions w8 hav8 fonnod. Mitchell CharleBWOrth (Audlt} Llmlted Accountants Statutory Audltor Suitss C, D, E, 14th Floor, The Plaza, 100 Old Hall Street, Llvorpool, L3 1QJ FILL-cIll (fwdJ,.)ivwAto.d Dated ?02S Mitchell Charlasworth {Audil) Limited is eligible for appointment as auditor of the charity by vlrlu@ of ils eligibility for sppointment as auditor of a MpanY under sèetlon 1212 ofthe Companles Act 2006. F¥ge 13
Tho Hadfteld Charifable Trust Accounts forthe year ended 31st August 2024 statement of flnancial a¢tlvltle8 Unrestrlcted Funds 2024 Unrestricted Total 2023 Not8s Investments Other Interest 332,110 3,089 328.838 2,735 Totsl 335,199 331,573 Expendlture on: Raislng funds Charitable activities 35,794 406,011 30,070 422,535 Totsl 441,805 458 605 Nel gain81(losses) on Investments 12 557,435 (389,874) Net movement in funds 450,829 516 906 Re¢onclllation of funds: Balance as at 1st September 2023 9,275.972 9, 792,878 Balance as at 31stAugust 2024 9 726 801 9,275.972 Thero are no acquisitions or discontinued oporations In the year. The notes on page8 16 to 25 form part Df these accounts, 14
The Hadfigld Chan"table Trust Accounts for the year ended 31st August 2024 Balance Sheet Unrostricted Funds 2024 Total Funds 2024 Total Funds 2023 Notes Flxed Assets Investrnents 12 9,672,067 9,672,067 9,200,488 Total Flxed Assets 9,672,067 9,672,067 9 209,488 Curront Assets Debtor5 Cash at bank 13 60,842 14,834 80.842 14,834 57,249 85.045 Total Current A880ts 75,676 75.676 142,294 Uabl[lo8. CreditDrs= Amounts falling due within one year 14 20,942 20,942 56,810 Net Current Assets 54,734 54,734 85,484 Creditors: Amounts falling du8 after onè year 15 f9,000 Total Net Assets as at 31st August 2024 9 726 801 9 726,801 9,275.972 Funds of the Charlty Total Funds as at 31st August 2024 9,726,801 9 726 801 9 275 972 Approved by the Board of Trustees and signed on its behalf on A T Morrls (Chaimianl The notes on pages 18 to 25 form parl ofthese accounts. Pag& 15
The Hadfleld Charftablo Trust Accounts for the year ended 31stAugust 2024 Notes to the Accounts 1 Accounting Policles The Hadfield Charltable Trust is a Public Benefit Entity governed by a Settlemgnt Deed dated 1st S@ptember 1997 and regist8red in England and Wa18s. The principal address is Shoestone Cottage, Garn6tl Bridge. Kendal, Cumbria, LA8 9AZ. Accounting Conventlon The accounts have bean prepared in accordance with the charlty's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommendad Practice applicable to charitles preparing thelr accounts in accordance wtth th& Financial R@porting Standard 8pplicable in the UK and Republlc of Ireland (FRS 102)" (eff6ctive from 1 January 2019). The account8 ar8 prepared in sterling, which is the functional currency of th& charity. Monetary amounts in these financlal statements are rounded to thg nearest £. The accounts hav@ be8n pr8pared on the historfcal cost convention. modifiad to include the revaluation of investm&nts at fair value. The prSncipal accounting pollctes adoptod are set out below. The charity has taken advantsge of the provisions in the SORP for Charities applylng FRS 102 Update Bulletin 1 nol to prepare a St8tem8nl of Cash Flow5. Going Concern Ai the time of approving the accounts the Trustees have a reasonable expectation that the charity has adequate resources to contlnue in operational existence for the foreseeable future. Thus the trustees continu8 to adopt the'golng concam, basis of accounting in preparing the accounts Charitable Funds Unrestricted funds are avallable for use at the discrelion of the charlty Sn furtherance of their charitable objectives unl8ss the funds have been designated for other purposes. Inconie IncDrne is recognlsed when the charity is legally entitled to l after any performanoe conditions hav& been met, the amounts can be measured reliably and it is probable that Sncome will b8 received. Cash donations are recognised on reipt. Other donations arg renised once the charity has been notified of the donation, unless performanco conditions require deferral of the amount, Incom& Tax reVerable in relatlon to donations receiv under Glft Aid or deeds of covenant is recognlsed at the tlme of the donation. Legacie8 are recognised on receipt or otherwlse if the charity has been notlfied of an Impending disliibulion, the amount is known and receipt is expected. If the amount is not known, the lagacy is treated as a contingent asset. All dividend income is recorded net and inGludes tax deducted only when it is rapayabl@ to the charity. Pagè 16
The Hadfield Charrtablo Trust Accounts for the year ended 31stAugust 2024 Notes to tho Accounts Expendlture Expenditure Is recognised when paid or when there is a legal or constructive obligation for which 1t Is more Ilkely than not that a transfer of economic benefit will be requlred in s8tt1@ment and th& amount can be reliably measured a8 at the reporting date. A constructive obligation exists where the charity has communlcated the commStmgnt to provlde parbcular goods, SeICe$ or funding to the recipient by the reporting dat@ and there are no conditions attachad to its payment falling due after the reportlng date. Provlsions for liabilities must be recognised when either the timlng or tha amount of future expenditure required to settle tha obligation is uncertain. These are distinguished separataly Csn th@ balance 8heel. If a transfer of resources is no longer required, provlsions ar8 r6V8r8ed and charged to the SOFA. Support Costs and Employee Beneflts I support costs and employee benefits are paid from Unrestricted Funds. The employees of th8 charity do not accwe hollday entitlement. Any tsrmination benefits awarded are racognised immediately as an expense, Ratirement Beneflts The ohaiity Is requirad to provide a p8nsion scheme for one employee. the Administrator, only. A Dafined Contribution scheme commenced 1st August 2016. Investments Investrnents held in the fund ar@ induded 8t their market value as follows.. (a) Listed securities aro valued at the mid market value ruling at the balance sheet date. (blList@d securities held in foreign currenctes have been valu8d at the mid markel va5ue and translated into their sterling equlvalents at the rates ruling at th& balance sheet date. (c)Gilts are valued at the mld market value wling at the Balance Sheet date and include Interest that has accrued up lo that date. Inv8Stm8nts arg daSsifi as 8 fixed asset except when classified as a current asset where the intention of the Trustees Is to dlspose of the asset and not reinvest the proc8eds. Other recognlsod Gains and Losses Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subs8quent cost and are charged or credited to the Statement of Financial Activitles in thè year of disposal. Unreallsad gains and losses represent the movement in market value8 durlng the year and are credited or charged to the statsment of F5nancial Activities resulting from revalulng invastments to market value at the Balance Sheet date. Taxation The Charity is not liabl8 to income tax or capital gains tax on ILS charitable actlvlties. Irrocoverable VAT is included in the assat cost or the expense to which it relates,
The HadrId Charltable Trust Accounts for tho year ended 318t August 2024 Notes to the Accounts Cash and cash equivalents Cash at bank and In hand is held to maat short-temi cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents Include cash In hand, d8poslts held at call with banks, othgr short-term liquid investments with orlginal maturities of three months or less. Flnancial Instruments The charity has elected to apply tha provisions of Sectlon 11 'Basic Flnancial Instruments, and Sectson 12 '0ther Financlal Instruments Issues, of FRS 102 to all of its financlaS instrum8nts. Financial instruments are recognised in the charlty's balance sheet wh8n the charity becomes party to the contractual provlslons of the instrument. Financial assets and liabilities are offset, with the net amounts presented the financial statements, when there is a legally enforceable right to set off the recognised amounts and there Is an iniention to settle on a net basls or to a1]se the ass81 and settl8 th@ liability simultaneously. Basic flnanclal assets Basic fin8ncig1 assets, which Include debtors and Gash and bank balances, are initially measured at transaction prSce inGluding transaotlon costs and are subsequently carrfed at amortlsed cost using the effectlve intsrest method un188s Ihe arrangement n$t[teS a flnancing transaction. where the transaction is measured at the present value of the future rec8ipts discounted at a Maet rate of interest. Financial assets classified as receivable within one ye8r are not amortised. Ba81c financial liabllltles Baslc financial Ilabilities. including credilors and bank loans are iniiially recognised at tranSli0n price unle&8 the 8rrang6ment Cn511tUteS a financing transactlon, where the debt instrument Ss rn&asur8d at the Txesent value of the fire reipts discounted at a market rate of Interest. Financial liabilities classified as payable within on8 year are not amortlS8d. Debt Instrumts are subsequ8ntly carried at amorttsed cost, using the effective interest rate method. Trado creditors are obligaticS to pay for goods or services that have been acqulred In tho ordlnary course of operations from supp5iers. Amounts payable are classified as current liabllEtles rf payment Is due withln one year or less. If not, Ihey are presented as non-current liabilities. Trade credilors a recognised initi8lly at transath'on price and subsequently measurad at amortised cost using the effective interest method. Cancellation of flnanclal Ilabllltles Financial liabiliti&s are derecognlsed when the tharity's discharged or cancelled. contractual Dbligations expire or are Page 18
The Hadfleld Charitable Trust Accounts for tho y&ar ended 31stAugust 2024 Notes to the Accounts 2 Critical accountlng 98tlmates and Judgements In the appllcatlon of the charity's accounting polici8S, the Trustees are required to make judgements, est5mates and assumptions about the carrying amount of assets and liabilitias that ar& not readily apparent from other sources. Th@ estimates and associated assumptions are based on historical ex[rIenCe and oth8r factor8 that are considered to be relevant. Actual results may differ from these estimates. The eSMateS and underlying assumptions are reviewed on an ongolng basis. Revisions to aocounting estimat88 are recognlsed in the period in which the @stimate is revised where the revision affects onty that period. or in the period of the revision and future period8 where the revision affects both Current and future periods. There are no crltlixl accounting estimates Dr judgements included in these 8ccounts, 3 Income from Investments 2024 2023 Nef of non reolaimable tay deducted at SOue.. Overseas UK &d Inter8St UK Unit Trust Income UK Equities and Income Other Income Non reclalmable tax 76,801 8,394 42,068 207,149 8,358 110,658) gi,197 8,220 44, 080 187, 703 8,190 (10,552) 332110 328 838 4 Other Income 2024 2023 Bank Interest Other Interest received 3,089 2,728 3,089 2, 735 S Ralsing funds 2024 2023 Rathbones Investment Management fees 35,794 36,070 35.794 36,070 Page19
The Hadfleld Charltable Trust Accounts for the year ended 318t August 2024 Note5 to the Accounts 6 Charitable actlvitles Grantmaking." Unrestrlcted Funds Direct Support Activities Costs Total Funds Total Funds 2024 2Q23 Donations made (nots 7) Salaries (note 91 Office costs Govemance costs (note 10} 352,755 352,755 31.463 3,469 18,324 375,517 29,428 4,038 13,552 31,463 3,469 18.324 352.755 53.256 406,011 422,535 7 Donats'ons made An analysi5 of donat1ons made from Unrestricted Funds by typa is summarised as follows.. Social Needs Youth and Employment The Elderly The Arts The Environment 129,528 151,128 14.579 40.800 16,720 37 42 12 Total unreStrIct donatlons 352.755 100 A full list of donations made to institutions frorn Unrgstricl&d Funds and analysed by typ8 for the year: Social Needs.. Armathwaite Old School Hall Cumbria Cerebral Palsy Aspatria RUFC Brllish Red Cross Carlisle One World Centre Citizens Advice Allerdale Cumbria Breast Feedlng Support Cumbria County History Tnjst Cumbria CVS Eyes Open Grange Over Sands Communty Foodshare Home to Work Ltd Hospice of St Mary of Furness Springfield Domestic Abuse Support Tebay Methodist Church Two's Company Keswlck Ulverston Inshore Rescue Western Dales Community Bus Servic6 Barrow Criokel Club 2,500 2,000 1,000 3,700 3,570 3,850 2,000 1,600 5,000 1,800 2,7(J) 5,000 4,740 5,000 2,QOQ 1,300 2,250 1,5CK) 2,0(J) Page 20
The HadrId Charltable Trust Accounts for tho year ondod 31st August 2024 Notes to the Accounts Cumbria Addiction.. Advise and Soluiions Cumbrla Crime Stoppers Cumbria Deaf Association Hlgh Harrington Community Kendal Dementia Action Allianc& Seascale Events Time to Change (West Cumbria) Vislon of Adventure Ulverston Cons6Native Bowllng Club stav81ey Willage Association Keekle Village Hall Frlends of Shap School Glassonby Village Hall Growing Well Ltd Barrow Raiders Community Foundation BID Servlces Blue Sky Trust Carlisle Trampolin& Club Fairoak Housing Assoct8lion Healthy Hope5 Ltd Hospi at Home West Cumbria MIND In Furness Ltd Safetynel (UK) Upper Eden CIC Coniston Sports & Social Glub Sl Mary's Parfsh Centre 5,000 2,500 5,000 3,768 4,000 500 5,000 2,000 500 2,000 3,750 1,750 3,650 5,000 500 2,000 3,000 1,000 3,500 3,000 5,000 3,200 5,OLNJ 1,000 2,5CrfJ 2,000 129,528 Youth & Employm8nt Cumbria Ycuth Development People First Services st Mark's School Natland PTA Our Place Youth Club Aspalria Dreamwheme Brathay Trust Harrington Youth Club Phoenix Youth Project Playground Proms Rock Currock Youth Project Kendal Youth Zone Tall Ships Youth Trust Young Enlerprise Feature Youth Club Ragtag Arts CIC Threlkeld Toddlers Appleby Town Council Alston Recreation Askam Youth Acllon Eden Ventures 350 1,740 2,400 1,875 5,000 5,000 2,400 5,000 1,500 3,963 1,260 3.000 2,500 750 2,000 2.500 3,OOD 3,000 4,1X)O 2.405 Page 21
The Hadfield Charltable Trust Accounts for the year onded 31st August 2024 Not88 to the Accounts Guide Associatlon Cumbria South SAFA Cumbria Silloth on So5way Sports Association Spiral Preventing Eff@cts of Bullying Starr in the Communlty CIG Studio Moorland CIC Time to Share BRVMNT Hathield Trust Creative Travel Award Woman Up 1 SÉ Duddon Dalton Church Scout Bardsea Malt Klln Village Hall Kepplewray Trust Carleton Park R6creation Group RUMIC Foundatlon Trust Levens Playlng Fields Millom Recreation C8ntre Shackl8s Off Chikj B8r8av6menl UK Happy Days Ch11drens Charity Hensingham ARLFC Trading stomplng Grnd CIC WhTtehaven Community Trust Broughton Parfsh Counctl Project John Ltd ndemere Youth Project 5,ODO 5,OCK) 3,075 5,000 900 1,500 3,5C 2.150 1,750 5,000 3,000 17,000 2.000 5,CHJO 3,000 4,000 3,250 4,300 5,000 3,720 1,340 5,ODO 2,5Crf) 3,500 2,000 151,128 The Elderty Age UK West Cumbrla Churches Together Penrith Cumbria Community Foundation - Wintsrwarmth Fund Susie Tate Projects Meals on Wheels Cumbria Brltish Wireless for the Blind ICAN Wellbeing Group CIO RAF Benevolent Fund Cockermouth Linklng Lives 2,200 1,300 5.DOO i.ooo 1,700 2,380 2,500 1,000 2,0 19.080 Th8 Arts South Cumbria Music Feslivgl Drum & Bra55 CIC Lakeland Sinfonia CIO Rosehill Youth Theatre Space2Create Carfisle Community Choir Cumberland Rag Rugs Cumbria Theatre Trust Islanders Dance Troupe Lake District Summer MusiG 2,000 2,300 1,100 3,750 2,600 1,200 1,000 4,000 2,000 3,750 Pago 22
Tho Hadfield ChaTltable Trust Accounts for the year ended 31stAugu8t 2024 Notes to the Accounts Orchestras Live Vulture Club Whitehaven Theatre Group Eversley Choral Union Workington Amateur Op6ratic Society Cumbria Singers Gosforth Amateur Dramatic Soclely Milnthorpe Steel Band 2,500 5.000 2,500 600 3,000 1,000 500 2,000 40,800 The Environment Alston Moor Golf Club Cumbrla Badger Vaccination Cumbria Wildlife Trust West Cumbria Rivers Trust Helsington & Brigsteer Willage Hall Cumwhitlon Parlsh Community Partnership 4,216 3,004 2,250 2,000 2,250 3,0(JJ 16,720 Total Unrestricted Donatlons made 357,258 Retumed donations and retracted pledg88 Net Total Unrestricted Donations made 352,755 8 Trustee and K9y Management Peroonnol Remuneration and beneffts Clause 7.8 of the deed bestows power on tho trustees to empkiy any person, fimi or company to manage or asslst in managing the day to day running of the Trust Fund upon such reasonable tenns as the Trusteas think fit and to pay, enter into agr88ments and fix such reasonable salary as the Trustees dgem proper and to make all necessary provisions for the payment of pensions on behalf ofemployaes. 9 Pald employoog 2024 2023 Gross wages Employer's contributlon to defined contributlon pension sch@me 30,833 630 28,850 578 31,463 29,428 The charfty is required to provlde a pension SGhome for one employea: the Administrator, only. Employment Allowance reduced Employer's NIC contrilmlions forthe year to nil. No 8mployee received emoluments in excess of £60,000 (none in 2023). Page 23
The Hadfleld Charltable Trust Accounts for thg year ended 31stAugust 2024 Notes to the Accounts Average number of part-tlme employees In the y@ar: 2024 2023 Charttable aGtlvltles - administration and support 10 Governance Costs 2024 2023 Accountancy and compan fees Accountancy and compllan¢e fegs - prlor year Tax and Pensi Administration fe@s Audlt fees Insurance Legal fee Panel expenses and meeting room hire Trustee expanses - travel 4,200 4,080 1,525 5,220 1,147 1,500 245 407 4,230 1,420 5, 736 1,141 540 13,552 11 Detslls of certain expendiiure Trustee Remuneration and beneflts None of the Trustees have been p8id any MuneratIOn or reiVed any other b9nefits during the year ended 31st August 2024 orth8 previous financial year, Tru5tgo expenses £407 was reimbursed to one Truslee for travel expenses incurred during the year ended 31st August 2024, with none being Incuffed during the previous finanGial year. 12 Investments Valu6 at PurGhases 31/08r23 at Gost Sales Re81isod Unalls9d pmcgeds Galns/(Loss6s) GaIn[Lo688j Valug af 31/08f24 Lislgd.- Ovgrse88 UK Fixed Interest & InGc*no UK Equity & Income REITS and Property Funds 3,5Q2,010 466,563 & lQ5,369 126,546 489,791 929,431 154,870 56,167 4,891 27,023 255,190 33,782 174,933 5,649 3.323,576 481,855 5,734,441 132,195 906,250 581,985 9 200.488 1,488,235 q 574 Q92 469 554 9,672,067 13 Currant assets Deblor Dividend income rec6ivable 2024 2023 60,842 57,249 60,842 57.249 Pag8 24
The HadrId Charitable Twst Accounts for the year ended 31st August 2024 Notos to the A¢counts 14 Liabllitles. CdI10.. Amounts falllng due within on9 year Accrual for grants Rathbones Trust Company Ltd Mitchell Charl@sworth (Audit) Limited HM R8vsnue & Customs 2024 2023 10.000 4,675 5,220 1.047 59,000 600 5.220 990 20,942 56,810 15 Liabilities: Creditors.. Amounts falling duo &fter OA9 year AGcrual for grants 2024 2023 10,000 16 Flnanclal Instrument8 2024 2023 Carrying amount of flnancial assets Debt instruments receivabla within one year - Debtor - Cash 60,842 14,834 57,249 85,045 142 2g4 Carrylng amount of financial liabilities Payabl8 Wlthin one year Credltors Payable within more Ihan one yoar Creditor3 19,895 10,000 Instruments measured atfair value thtDugh SOFA Investments at value 9.872,067 9,200,488 17 Related Party Transaction5 Olher charllable organisations of which the Trustees of this Gharity have an interest in are always propetly daclarad and acknowledged during determination of applications. If such a situation arisas, the Trustee with the related parly irrterest does nol participate in Ihe decislon other than to clarify facts. Amounts pald from tha Hadfield Charitable Trust to any such charitable organisatlons are disclosed in note 7. As at 31 st August 2024 the Trustees had no intsrest in any charftabl8 organisation affected by the above. No other disclosures are requ5red for th8 reporting p8riod. Page 25