Registered Ckarity Number 1071610 Company Registration Number 03471965 (Englgnd &Wales) HELPING HERTS HOMELLSS (Previoms name North Herts SaDcluary) TRUSTEES? REPORT AND UI4AUDITED FINATr4CIAL STATEMENTS FOR THE YEAR EIYDED 30 JUNE 2024 HELPINC HERTS HOMELESS (Previous name North Herts Sanetoary) CONTENTS Page Legal and athninistraiive InfO￿atIon Trustees, rq)ort Independent examine¢s re￿rt Statement of Financial A￿1vItieS Balancc sheel Notes io the fina￿la] stalements 8-14 HELPING HERTS HOMELESS (Previois Dame North Herts Sanetllftry) LEGAL AND ADMILYISTRATIVE ENFORMATION FOR THE YE4R ENDED 30JUNE 21124 Direttors ahd Trustees The directors of the charitable company {"the charity") are its tswstees for thc purpose of charity law and through0￿ this report collectively referred to as the trustees. The charitable compat)y is managed by its trusteek The trustees 5ervin8 during the year and since the year end were as follows: P L Warren I P Chapman O Lister K Bridge E Poole Compxny secretary R Robinson (Ap￿inted 15 May 2024) Registered Charity number 1071610 Company Trumber 03471965 Governing do¢um¢nl Memorandum and Articl￿ of Associalion d￿ed 4 March 2010 as amended on 23 May 2022. Obje¢ts per governing document To reliev¢ poverty and distress amongst p￿pIC who at¢ hi)rnele5s by: i) the provision of year round temporary accommodation ii) the wovision of sUp￿rt and facilities that help and encourage homeless people to address the underlying r¢&sons forhomclessn¢s& in parti¢thar pcrSOT￿ experiencing drug and alcohol dependency, mental health issue& l&rning difficultie5 or involvement in criminal activiry. CIO HW A&sociate& Portmill House. P41rtmill Lan< HitchiJ4 Herts, SG5 IDJ Registered offiee Independent Examiner Mark Hjerlzen. H W Associates Limited. Portmill House. Portmill Lane Hiichin, Herts. SG5 IDJ Bankers CAF Bank Ltd 25 Kings Hill Avenue. Kings Hill. we￿ Mallin& KenL ME19 4JQ CCLA Senator House. 85 Queen vI￿Tta StrttL LondotL EC4V 4ET HELPING HERTS HOMELESS (PreviDUS name North Herts Sanetuary) TRUSTEES, REPORT FOR THE YE4R ENDED30 JUNE 2024 The I£Ea] and Adminislrative infonnation set oul on ￿ge I forn￿ an inlegral part of this repxl. STRUCTURE, GOVERNANCE AND MANAGEMENT The objectives of the Charitv are set out in ihe 8overnin8 documents - Men￿raDdUm & Articles of Association of Helping Herts Hotneless (previous nojne North Hcrts Sanctuary). incoTWprat¢d 26 Novetnber 1997. 15 amended in 2005. 2010 and 2022. During the year under review. Ihe Charity was managed by a Board w￿lS11n8 of five trustees Sup￿ed by suipcommittees and volunieers. We have ap￿l￿ted appr￿￿]d￿lY qualified volunteers to the company secretary arm1 a¢countLnt role. Th¢ Charity works with other tharities agencies and organisations in North Hertfordshire involved with homelessness and its underlying cau5¢S. PUBLIC BENEFIT The Trustees hold homeleswess at tk centre of their approach to forniulating th¢ ¢lwity'S stralegic objectives and associated planning. In doing so, the Tn￿eS refer to the guidance contained in ihe Charity Commission's general guidance on public benefit when planning for the fubjre. Through the work thai the Charity undertakes in its service and SUPEK)rt Are&8. it delivers public benefit and serves a wide Tange of ￿￿pIe. some of whom are vulnerable. As an organisation. the charily acknowled8es th¢ impa¢1 of ils work may be limited &n directly transforniing the lives of those that flnd themselves homeless. However, we support other organizations who provide direct benefit lo those who are in danger or are in danger of becoming homele5S. The charity recognises a year on year in￿¢ in hOMele￿nesS and is aiming to extmnd its support to organisalions striving ID address homelessness. The charity is also aware that as it is not a Tegistered provider. it catUKJt get direct access to government funding Any N)teDtial activities requiring such funding wouldtherefore need to be undertaken in conjunction with a parlner charity who 15 a registered provider. 0￿ECTIVEs AND ACTIVITIES The charities activities are cenlered in three main ar￿. Firstly, those arising frotn ownersbip of The Sanctuary building, secondly SUp￿rting parth¢r Organizatio￿ wh05¢ airns align with ours and thirdly fundraising to enable the work we do. The charity currently is the owner of the Sancthary, a ho*l, which provides basic facilities to accommodate and sUp￿rt homeless indÉviduals from Hertfordshire. The building will be rnaintained as appropriate to comply with landlords, res]xTrnsibilities. Future spending on Nightingale Road will be deterniined by the need io maincain the building and preserve its va]ue a5 an a5seL The charity ac￿ along with the current tenanL One YMCA as the wblic face of the North Herts SaDCtuary in the local community. As noted the charity is not a Tegistered provider so ￿ maximise the u8e of the building it is lei io a charity that is a registered provider for both accommodation and services to the homeless in relurn for rent set at t￿lOW market value. During the period of this rel￿ the tenancy Temained with One YMC Supporting partner organi5atioTrs. Tr charity &s a hub to pT()vid¢ funding and donations in kind (clothing, provisions and bedding elc) lo support the work of other charities involved in supEx)rting the homele&s across Herttordshire. This is an a￿a the charity Theeds to and is activcly working to devekbp. ACHIEVEMENTS AIYD PERFORMANCE Structure and Mana During the previous re￿rtlTrg period up to Jun¢ 2023 there H'ere a number of changes on the board. This nem. board consisting of five trustees h&8 consolidated through this period with regular board meelings a]ong with more focused meetings for specifi¢ topics. We ￿￿tiTrue to [￿l¢W ih¢ management and slrnctur¢ with the developmeni ol r￿used committees for fundraising, communications and the management of socia] medi& We have recwit¢d appropriaply qualifi￿ volunteers to help with accountancy and ¢ompany secr¢tariai duties. We have continued our locus on improving our communications with memlKr& parn￿r￿ l(Kal aull￿ritIeS and donors. During th¢ period the trustees took lega] &lvice on how best to formalizc our relationship with One YMCA to ¢nable the devcloptneni of our site to take Pl￿¢. It was CO￿[￿ded that il was in our best interests io remain as an indepeDdeDL Ch￿ltY but work lowards a strong & close working relat10￿hlp. li was cotLsider¢d this would b¢# ￿rY¢ our conlinuing and d¢v¢loping Telalionships with other charitie& The North HerLs Sanclu The Sanctuary provides much needed &commodation and supp(xt services to five residents. One YMCA continue io provide these Services under a rolling le&s& They also provide necessary any building maintenance. The charity has recognised that wthi15t the building provid&8 serviceable accommodation and ancillary areas ihe condition and layout of the building doe5 nol meet ¢urr¢nt government 5tandard& Th¢ ¢harit)' therefore has a continuing priorit> to find a way in which the building can be brought up to these standards to ensure continued use as aceommodation for homeless people. The potentia] costs and Skills rcquired mean the chariti, will need io find cnabling pathcrs which may lead to fundamenta] changes for the charity. We will take appropriate advice to ensure this TS donc in complianee with charity law and our memorandum and articles of ass(Kiation. t￿ring this re￿rtIng period M'e had dISc￿s1on$ with a numt*r of p)tential path charities and involved the local authority and loca] counciloTS to understsnd what options were availablc. After consideration th¢ charity selected YMCA preferred patrr and we are pleased to say this this relationship has been su¢¢t￿rul1Y developed over the ￿ri0￿ In Au8USt 2023 an opwrtunity arose where One YMCA and the local 2uthoritics rnade a bid for goveTmment funding to devclop a new purpose-built hostel on our site. This was received favorably with the possibility of circa 7511/¢ of the required fvnds being granted. The charity w&$ behind bid subject lo legal and other agreements. A condition of funding would be th￿ One YMCA would have full control over the land for a significant period of time. The Irustees were keen to retain a conne¢liotD with the site which has b¢en such a fundamentsl part of the charity. It w&8 agreed this could be done with a long lea5¢. Oth¢r k￿S to getting funding were obthining full planning penDiSSiOW th¢ full funding Eting available and timescales for the building being ready for o¢cupation. All parthers worked tom'ards this and at the end of the reporting ￿riod the fijll funding including a significant amount from HHH was available. a draft leLse was Mell advanced. Ihe decision on the full planning appli&*ion (submitted in Nov 23) w&s eXr￿led imminently arhj the required timescales were achievable wlth an intended start in Nov 24. Wot*s arising from the l](KKI in summer 2021 were very close to ¢ompldion when a further, more minor. flo(Ml occu)Ted in September 2023. The rcmaining work was completed whi15t the later damage was asse55e(L After consideration it w&$ agreed that the insurers would make a c&sh 5ettlernent of the claim and an amounl was agr¢¢d. Fundraisin The charities fundraising ￿tiVItieS via events and regular doTMtions continues. Events not only rnise money but increase o profile in North Hertfordshire where we are able to maintain a strong reputation. Funitraising enables us to give grants io partner charities who share our focus on homelcssne5s and the prevention of homelessness. It h&q also given significant financial Strength and reserv¢s against possible expenditure on the property. Events included the annual qui4 carol singing outside a supern)arkeL a Coron&ion raffle 8nd a ¢oncert in a local church. FINANCIAL REVIEW & PROPERTY REPORT The period under review h&4 pfimluced a Strong fjnancial perfonnance. Annual income In)prov￿ considerably while CO￿espOnding expenditute was slighily higher. The tr￿sle¢s. attenlion on 23124 h&q Concentr￿ed on a pr(wed redevelopment site of the North Herts Sanctuary. Fundin8 wa5 obtaintd by ow panner On¢YMCA and oih¢r stak¢hold¢rs from Hom¢s England io replace the cu￿ent building with a new hostel. Nevertheless the board h&$ worked conscientiously. and matw to f￿rA[ its main mission obj¢¢tives. Gen¢ral support from our locat Gommunily has reTttaill¢d strong. HHH revenue is derived from three main sourtts- donatioThs [indivithJals. faith ￿0upS and organisatioA%], fi]nd-raising events. and via rent received from our building under the teJwKy agreen)enL Annual iticome incr¢&s¢d ¢onsid¢rably. part]y due to a one-off payment relating to a settlement for previous fl¢Jod damage. An increasing proportion of our doDatiQDS cornes from online sources. mainly Just Giving. The Sumup account linked to a ￿dreader helps ¢omid¢rabl) ￿ ¢v¢nts. and reduGe5 the amount of handled. Expendirure was comparable with the previous year. wlth less outlay on nuinte￿ance limprovern¢nl witil the future ofthe building is d¢¢ided. Th¢ main etnphasis on spendin& w¢ are pkased io say. w&$ providing grants lo suppm our poJthers and associates to fujfil one of our ¢hariry'S prime aims. Thus HHH provided gianis tot￿]ng nearty £9.000 to SUPPOTt proje¢ts and newsary Costs Incurred in helpin8 residents and ¢lients with non-budgeted expenditure. Overall, we have still produced a useabl¢ 5urplu5 for the year. allowing u5 10 fund m￿¢ opportunitie5 to help th¢ local homeless in the immediate future. Together with the generolls support from the local community, we have the fuwicial flexibility to siistain our work. RESERVES POLICY Unrestricted funds amount to £595,230. This is rq)resented by: A genera] reserve for fiindrdising activities supporting homeless atTh)unting to £1 11,459_ A desigt]ated prokw fund afflounliog to £350.191. This will enable us to maintain or develop our preseni building. The trfjard are currently considering options for the property for when replacemenl purpose-built hostel is ready for owupancy. The property is held at market value and the incrwe in valvalion is held in a reserve amounting to £133.580. POST REPORT PERIOD UPDATE AND PLANS FOR THE FUTURE The proposed scheme rrfeived fvll planning approval subject to o)nditions in July 24 and this sliould have enabled ommitsnent lo the comm¢ncem¢nl of work. However, in August 24 Homes England changed the timescales for comm¢ncement and completion of the dcvcjopme￿ to periods that Onc YMCA cou]d nol meet. One YMCA wuld not commit lo the development without this funding so we wer¢ infornied the scheme would not start as planned. One YMCA remains committed io the development and has said ihey will apply for funding from fuiure rounds of government funding. In the inierim One YMCA will continue as our lenants to use ￿ building for accommodation and services. They also want to continue with inientions to conelude a long-terni le￿e f(x the site. We will ttvitw this as things develop whilst taking ifflo considerdtion the best interests of the charity. In addition. One YMCA are working on a scheme on a nearby site and hav¢ suggesfrd Helping Hertg Homeless ¢an play an active role with our building king wd to provide support servic¢& The b)ard are very disapEx)inted aboul this turn of events but believe the new scheme will benefit the homeless si￿LFicant1y. so we have agreed lo ivork with One YMCA Fundraising efforts will continue as th¢ backlxyne of th¢ Charity and to raise awarcne&s of local homele55n¢ss and ¢n5ure we hav¢ rnoney to distribute lo our pariner5. RISK MANAGEMENT Th¢ Trustee5 continue to keep ihe risks of running the ChaTity under review. Regular iKJard meeting provide chance to discuss any concerns. The Ch2rity has Public Liability Insuran¢¢ and the rnain assel the building and site at 25 Nightingale Hitchin, is appropriately insured. We ￿¢ making enquiries with l(*al and nationai government Ix)dies to establish where reswnsibilities lie in r¢sp¢¢t of preventing flIK)ding and to then ensure these responsibilitl¢s are fulfilled. We will appoini law firnis to ensure any changes ￿ the charity and our &5sets are made in accordance with charity and other relevant1¢8islation. IIYDEPENDENT EXAMINER Mark Hjertzen of HNi' Associates Limited has been appointed as IndewAdent Examiner by the Tntste¢s and a re501ution will be proposed at the AGM that he be re-aprrfyinted for the ensuing year. The above report has been prepar¢d IA accordanc¢ M'ith th¢ sp¢¢i&l provisions of Part 15 of the Companie5 Art 2006 r¢laung to small companies and with the Sia¢¢ment of Recommended Piacticg (SORP) (FRS102): Accounting and Reporting by Charities. yth d signed on their behalf by: in Datc O Febnw 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF HELPING HERTS HOMELESS (previo￿ name North Herts Sanctuary) I report to the Trustees on my ewTrinalion of the accounts of helping North Hert8 Sanctuary (Working as Helping Herts Homeless} {the charity) for the year ended 30 June 2024. This rep)rt is made solely w the charitable compan￿S trl￿teeS as a body. in accordance with Chapter 3 of Part 16 of the Companie5 Aci 2006 and The charitable compydny's trustees &8 a body in accordance with section 154 of the Charilies Act 2011. My independent examine¢5 work h&$ been undertaken so that I might swe to the charitable compan) s trust¢e5 tjiose matters l am required lo slate to them in an independent exatniner's rep)rt and for no other pUr￿Se. To the fullest extent permitted by law, I do not accepi or assume restM)nsibility to anyone other than the charitsble company, the charitable companls members as a body and the charitable company's trLL5tees as a I￿￿. for my independent examinees worL for this report. or for the opinioThs I have fomitd. Responslbilities aDd basls report As Ihe Board of Truste¢s of th¢ charity {and also its dire¢ior5 for ItK pur￿)$¢5 of wmpany law) you art r¢sponsibl¢ for th¢ prepardtion of the accounts in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having sLtisfied myself that the accounts of the tharity are not required to be audited under Part 16 of the 2006 Act and are eligible for indewldent ¢xaminatiow I report in respect of my examination of the charity's accounts carried out under Section 145 of the Charities Act 2011 (the 201 l Act). In carrying out my examination I haye followed a]1 the applicable Directions given by the Charity Commission under 5￿tion 145(5Xb) of the 2011 ACL The members have not required the Company lo obtain an audit in accordance with section 476 of the Companies Ad 2006. The Tru51ees' acknowledge their responsibility for complying with the requirements of the Art with respect to ￿)Unting records and for the preparation of accounts. Independent examiner's sta¢ement I have completed my examination. I confirn) that no matters have ¢om¢ lo rny attention in connection with the examination giving ￿¢ Cause to believe that in any material respect: counting records were not kept in respect of the charity as required by 5￿tion 386 of tr 2006 A¢L or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements ol section 396 of the 2006 Act other ttw] any requir¢ment that the accounts give a ITue at)d fair view which is Th)t a matter CO￿$1dered as part of an ind¢pendent &Kamination: or the accounts have FKen prepared in accordaKe with the methods WKI principlesof tbe Statement of Recommended Practice for accounting and reFthing by chorities applicable lo chaTities PWiarirJg their a¢¢ounts in ￿￿rdance with the Financial ReportlTI8 StarKlèrd appli¢abl¢ in the Uk and Republic of Ireland (FRS 102). I have no Concen￿ and have come across no other mai¢eTS in connection wilh the examirJatioTh to which attention should be drawn in this report to enable a prow understsndin2 of the accounts lo be reached. _[ l¥-fr- Mark Hjertzen BA FCA H W Associates Limited Portmill House Portmill LaTh¢ Hitchin Herts SGS IDJ Dllted: 10 February 2025 HELPING HERTS HOMEWS (Previou5 name North Herts Sanelwary) STATEMENT OF FINANCIAL AcfMTIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024 Uirestricte41 Funds Restricted Fuids Total 2024 Total 2023 Notes Note 14 Income from.. DonatioThg 12.132 12.132 14.835 Other trading aclivities- fund rdising Inveslment income- inierest receivable Inveslment income- rent receivable Investh)ent income- dividend incon Exceptional income 7.lY) 5.498 11000 102 7,190 5.498 12.000 102 22,964 3.508 1411 12.625 202 21964 Totsl 59.886 59,886 33,580 Expenditure on: Raisit]g fullds Charitable activities Other costs 3.463 14.208 6.681 3.463 14.208 6.681 ,201 15.151 2,520 Total 24,352 24,352 18.872 Net incomel(eipeDditure) 35.534 35.534 14.708 Oiher reeognised gainsl(loss¢s): G&ins/(losses) on inveslmenls Net movement in funds 35.534 35.534 14,708 Re¢0￿ClI1￿￿On of funds: Total funds brought fonvard 559.696 559.690 544.988 Totsl funds carried fonvard 595.230 595.230 559.696 The ststement of fiJMncial activities includes all gains artd k)ss¢s reCO￿lsed in the year. All incom¢ and ¢xpenditure derive from ongoing acliviiies. The Statement of Financial Activities also cornplies with the requirements for an income and exFtnditure account under the Compani¢s Act 2006. HELPING HERTS HOMELESS (Previous North Hertg San¢tuary) BALANCE SHEET ASA T30JUNE21J24 2024 2023 Notes FIXED ASSETS Tangible assets Investment Propety nvesbnent5 400.000 10.404 400.000 10.302 CURRENT ASSETS Debtors 2.121 2.896 Cash at bank amd in hand 183.856 147.632 185.977 150.528 CREDITORS: amounts falling due within one year io (l.l51) (1.134) NET CURRENT ASSEIS 184.826 149,394 TOTAL ASSETS LESS CURRENT LIABILITIES 595.230 559.696 FUNDS Unrestri¢t¢d Funds General Designated property fund Revaluation reserve 111.459 350.191 133,580 77,781 348,335 133.580 li TOTAL FUNDS 12 595.230 559,696 The charitable company is entitledto the exemption from the audit rwuirement contained in section 477 of the Companies Act 2006. for the year ended 30 June 2024. No member of the company has deposited a notice. pursuant to section 476. requiring an audit of these accounts. The trustees acknowled8e their responsibilities for ensuring the eornpany keeps a¢counting record5 which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the slate of affairs of the company as at the end of the financial year and of its incoming resources and application of resourc4 including its income and expenditure, for the fjnaneial year in aceordanee with the requirements of sections 394 and 395 and which otherwise rornply with the requirements of the Companies Act 2(￿6 relating to a￿ount& so far as applicable lo the company. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small ompanies. regime. The fi hehalf ents were approv¢d by the trustees and authorised for issue on 10 February 2025 and signed on its Owgin Trustee Company Re stration No 03471965 HELPI]YG HERTS HOMELESS (Previous name Trlorth Herts S*n¢¢u*ry> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3QJUNE2Q24 Accounting policies Company 51AIus fdnd informatio North Herts Sanctuary (worknng a5 Helping Herts Homeless) is a private cofflpaThy limited by guarantee incorporated in England and Wales. The registered orrice is CIO HW Asso¢iale& Portmill House. Portmill Lane. H1￿h]n, Herts, SG5 1 DJ. In the event of the clwtty being M'OUTJd up. th¢ liability in respect of the guArAntet is limited to £1 per member. Basis of preparation The accounts havc been prepRTed in accordance with the charity's Memorandum and Article5 of Association, the Companies Act 2(M)6 and"Accounting and Rew)rting by ChaTities: Ststement of Recommended Practice applicable to charÉties preparing their ￿¢0￿nts in accordance with the Financial Reporting Stsndard applicable in th¢ IIK and Republic of Ir¢land (FRS 102)". (as amended for accounting periods commencing from l January 2016). The clLarity is a Publi¢ Benefit Entity as defined by FRS 102. The chartty has taken advantage of the provisions in ihe SORP for charities applying FRS 102 Update Bulletin I not to prepar¢ a Statement of C&sh Flows. The accounts are prepated in sterlin& which As the functional cvrrency of the charity. Monetary amounts in these a¢¢ounts are rounded to the nearest £. The accounts have t*en prepared under the hislorical cosi convefflion. modified to include th¢ rcva]uation of freehold property. The principal accounting rM)licies &dopied are set out below. The charity has tsken advantage of the concession available to smaller charities in the Statement of Recommended Practice which pcrniits the analysis of incoming ￿SOurCeS and resowces expended by natural categories rather than by actlVLty. Going eollcer The trustees confident that the Ch￿ity is able to conlinue to n￿e1 ils liabilities as they fall due for the foreseeable future and that ihe accounts thould be prepared on a going concern basis. Ineoming resourtts ncome Income 15 included in the Statement of Financial Activities wben the charity is legally entiiled io the incorne and the amount Can be quantified with rwonable a¢¢￿a¢y. Gift Aid reclaim5 are recogni5ed oft ￿ceIpt. Interest receivable Interest Teceivable is included in the financial statements on an accnkls basis. Donat¢d and facilities Donated services and faciliries are included in the Statement ofFinancial Activities whe[¢ the benefit is reasollably quantifiable and mvd5urable. Expenditure Expendith is accounted for on an accruals basis and has been Classifi￿ utlder heading5 thaiaggregate ￿] cosls related to the category. HELPING HERTS HOMELESS (Previous Dame Nortb Herts Sanctuary) NOTES TO THE FINANCLIL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 3QJUJVE 2024 Tangible fixed assets and depreeiatio Tangible fixed &8sets are initially measured al CO￿ a￿1 sub5equenily measured at cost or valuation. net of depreciation and any imwdinnent Prot£rties whose fair value ran ￿ measured reliably are held under the revaluation model and are carried at a r¢valued atnounL being their fair valu¢ at the date of valuation less any subsequent accumulated depreciation and 5ubs¢quent accumulatcd impairnient los￿. The fair value of the land and building5 IS LLsually considercd to be their market valu¢. Depreciation is provided * rales calculated io wri1¢ off th¢ cost of ¢ach a&5¢1 on a 5traight-line b&si& ov¢r its expected useful lif¢. &5 follows= Computers Equipment 1.7 Investment Property Investment properties ar¢ m¢asured at fair value at the balance sheet dat Fixed asset investments Investments ar¢ initiatly measured at C05t and 5ubsequentl)' measur¢d at cost less any accumulated iinpairn]ent losses. The investments are assessed for impairmenl at ¢a¢h r¢wrting date and any impairnient losses or reversa15 of impairmeni losses are recogniscd immediaiely in profit or Ios5. Fund Accounting Unrestricledfunds These are funds which can be used in accordanee with the chaTitable objects at the discretion of the truS￿S. Th￿¢ are w]re5tricted funds which have b¢¢n earniarked by the trus*es for particular purrrfys¢s Thes¢ ar¢ funds thai can ODly ￿ used for particular restricted wrtK)ses within the objects of the Charit),. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. DesignatédfyAdY Restricledfvt