REGISTERED COMPANY NUMBER: 03595029 (England and Wales) REGISTERED CHARITY NUMBER: 1071731
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2024
for
THE INGRAM HILL FOUNDATION
THE INGRAM HILL FOUNDATION
Contents of the Financial Statements for the year ended 31 July 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 8 |
THE INGRAM HILL FOUNDATION
Report of the Trustees for the year ended 31 July 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity makes grants to individuals and organisations whose activities accord with the aims of the trustees. The trustees are satisfied that the charitable activities in the year fulfil the public benefit requirement.
FINANCIAL REVIEW
Financial position
The charity has used income from investments to carry out it's charitable activities. Expenditure exceeded the income, but this was outweighed by the gain in the value of the investment.
The trustees are satisfied with the financial result for the period. The charity's assets are adequate on a fund by fund basis.
Reserves policy
Reserve funds are kept to cover expenses for 3-6 months and the remaining funds are kept for supporting Thinking Music and other charitable donations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03595029 (England and Wales)
Registered Charity number
1071731
Registered office
Southcott House Southcott Pewsey Wiltshire SN9 5JF
Trustees
S P Ingram Hill T Ingram Hill D Ingram Hill W J Ingram Hill
Company Secretary
S P Ingram Hill
Independent Examiner
Richardson Swift Chartered Accountants 11 Laura Place Bath BA2 4BL
19/03/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Page 1
THE INGRAM HILL FOUNDATION
Report of the Trustees for the year ended 31 July 2024
................................................................. T Ingram Hill - Trustee << ~~[fot]~~
Page 2
Independent Examiner's Report to the Trustees of The Ingram Hill Foundation
Independent examiner's report to the trustees of The Ingram Hill Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Catherine Edwards FCA
Richardson Swift Chartered Accountants 11 Laura Place Bath BA2 4BL 21/03/2025
Date: .............................................
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THE INGRAM HILL FOUNDATION
Statement of Financial Activities for the year ended 31 July 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 28,496 EXPENDITURE ON Charitable activities Grants to Institutions - Charitable activities 30,766 Other 2,002 Total 32,768 Net gains/(losses) on investments 48,142 NET INCOME/(EXPENDITURE) 43,870 RECONCILIATION OF FUNDS Total funds brought forward 520,234 TOTAL FUNDS CARRIED FORWARD 564,104 |
2023 Total funds £ 17,307 10,000 28,273 2,106 40,379 (31,147) (54,219) 574,453 520,234 |
|---|---|
The notes form part of these financial statements
Page 4
THE INGRAM HILL FOUNDATION
Balance Sheet 31 July 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 5 | 539,084 | 490,942 |
| CURRENT ASSETS | |||
| Debtors | 6 | 6,771 | 985 |
| Cash at bank | 19,549 | 29,357 | |
| 26,320 | 30,342 | ||
| CREDITORS | |||
| Amounts falling due within one year | 7 | (1,300) | (1,050) |
| NET CURRENT ASSETS | 25,020 | 29,292 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 564,104 | 520,234 | |
| NET ASSETS | 564,104 | 520,234 | |
| FUNDS | |||
| Unrestricted funds | 564,104 | 520,234 | |
| TOTAL FUNDS | 564,104 | 520,234 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 19/03/2025
............................................. T Ingram Hill - Trustee
The notes form part of these financial statements
Page 5
THE INGRAM HILL FOUNDATION
Notes to the Financial Statements for the year ended 31 July 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
Income is recognised over the period to which it relates and when its receipt is probable.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Investments
Investments are valued at market value as at the year end date.
2. INVESTMENT INCOME
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Investment income | 28,496 | 17,307 |
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continued...
THE INGRAM HILL FOUNDATION
Notes to the Financial Statements - continued for the year ended 31 July 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There was no trustees' remuneration or other benefits for the year ended 31 July 2024, nor for the year ended 31 July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
4. EMPLOYEE COSTS
There were no employees for this year and previous year, other than the Directors.
5. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 August 2023 Revaluations At 31 July 2024 NET BOOK VALUE At 31 July 2024 At 31 July 2023 |
Managed funds £ 490,942 48,142 539,084 539,084 490,942 |
|---|---|
There were no investment assets outside the UK.
Cost or valuation at 31 July 2024 is represented by:
| Managed | |||
|---|---|---|---|
| funds | |||
| £ | |||
| Valuation in 2024 | 539,084 | ||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Prepayments and accrued income | 6,771 | 985 |
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continued...
THE INGRAM HILL FOUNDATION
Notes to the Financial Statements - continued for the year ended 31 July 2024
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other creditors | 1,300 | 1,050 |
8. RELATED PARTY DISCLOSURES
Within charitable activities is £10,714 paid to Thinking Music, which has a trustee in common with the charity.
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