## **THE HEMBY CHARITABLE TRUST** ( Charity Registration Number: 1073028 ) **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** _Rathbone Trust Company Limited_ ## **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Index** |**Page**|| |---|---| |1-6|Trustees' Annual Report| |7|Independent Examiner's Report| |8|Statement of Financial Activities| |9|Balance Sheet| |10-17|Notes to the Accounts| **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Trustees' Annual Report** The Trustees of the Hemby Charitable Trust have pleasure in submitting their Annual Report and Accounts for the year ended 31st January 2023. ## **Objectives and activities** This charitable trust was created by Deed dated 13th February 1998. Its purposes for the public benefit, in accordance with its governing document, are to apply the income and capital of the Trust at such times and in such manner for exclusively charitable purposes in any part of the world as the Trustees in their discretion think fit. In order to meet with their objectives, the Trustees' aim to make donations of income received, after operating expenses. In accordance with their powers bestowed by the charity's governing document, capital and income may be distributed at the Trustees' discretion. The Trustees have a policy of supporting charitable causes in Merseyside and Wirral although they are not precluded from making donations outside the area if they so decide. Other than the operation of the investment portfolio, no other fund raising activity is undertaken to support the work of the charity. The Trustees have complied with the duty in S17 of the Charities Act 2011 and have given due consideration to the guidance on Public Benefit issued by the Charity Commission when exercising relevant powers or carrying out duties to which the guidance is relevant. ## **Achievements and Performance** During the year the Trustees resolved to make a number of donations from Unrestricted Funds. In placing donations in one of the categories below there is nearly always a certain amount of overlap between the categories. This is particularly so with Social Needs, where many of the projects supported are geared older people, health care and those with disabilities. During the year 62 applications for funding were received (74 in 2022). Of these 54 (87%) were offered a grant (55 - 74% in 2022) totalling £96,283 (£103,698 in 2022). Donations varied in amount between £500 to £5,000. Not all grants awarded were paid during the year but provision has been made in the accounts as appropriate. The total figure of grants paid during the year was divided as follows: |Social Needs
Youth and Employment
Help for the Aged
The Arts|**£**
68,233
21,250
0
6,800
96,283|**%**
71
22
0
7
100| |---|---|---| Since the Trust started to make donations in 1998, a total in excess of £2,594,731 has been paid to over to 1,593 charitable causes based mostly in Merseyside and Wirral. A full list of donations made from Unrestricted Funds during the year in alphabetical order follows. Page 1 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Trustees' Annual Report** ||**£**|| |---|---|---| |Alder Hey Children's Charity||2,000| |Bipolar UK||1,500| |Belvidere Centre||1,000| |Bradbury Fields||2,000| |Chapter||1,000| |Cherish Reach & Connect||2,100| |Children Heard & Seen||1,500| |Children with Cystic Fibrosis Dream Holidays||1,580| |City of Liverpool Sea Cadets||1,500| |Croxteth Gems Community Association||1,000| |Cruse Bereavement Support Wirral Branch||1,500| |Evolve Tackling the Impact of Substance Misuse||1,000| |FACT||1,500| |Fallen Angels Dance Theatre North West||1,000| |Forward Trust||1,200| |Hooves for Healing||2,000| |Kindfulness Coffee Club||750| |Leadership through Sport & Business||3,000| |Life Church||1,500| |Liverpool Cathedral||2,000| |Liverpool Sunflowers||500| |Living Paintings Trust||1,500| |Lucilla Dramatic Society||1,300| |Macular Society||1,000| |Mencap Liverpool & Sefton||2,500| |Merseyside Crimestoppers||5,000| |Merseyside Dance Initiative||1,500| |Merseyside Lowland Search & Rescue||2,500| |Merseyside Water Rescue||2,000| |Methodist Centre||2,000| |Motor Neurone Disease Association||2,500| |Neuromuscular Centre||903| |New Brighton Community Centre||2,000| |Newlife the Charity for Disabled Children||3,000| |North West Cancer Research||1,000| |Osun Arts Foundation||1,000| |PBC Foundation Ltd||1,000| |Rainbow Hub||2,000| |Roy Castle Lung Cancer Foundation||2,000| |Sailors Children's Society||700| |Seafarers Charity||1,500| |Shy Lowen Horse & Pony Sanctuary||2,000| |South Liverpool Sea Cadets||2,000| |Street League||2,000| |Support After Murder & Manslaughter||5,000| |SVP Ozanam Camp Wirral||2,000| |Team Oasis||3,000| Page 2 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Trustees' Annual Report** |The Reader
Tuebrook Hope Group
West Coast Crash Wheelchair Rugby Club
West Everton Community Council
Willow Foundation
Wirral Mencap
Young Lives Vs Cancer (CLIC Sargent)
Total|**£**
500
750
2,500
2,500
1,000
2,500
2,500
96,283| |---|---| ## **Financial review** Income from investments totalled £125,177 (£103,725 in 2022) with £14,514 (£14,382 in 2022) being spent raising funds in the form of investment management charges. A total of £111,682 (£117,277 in 2022) was applied directly towards charitable purposes, of which £96,283 (£103,698 in 2022) was awarded in grants. The Trustees met with their objective to distribute the majority of net income received during the financial year After taking net gains on investment assets of £52,379 into account (gains of £383,757 in 2022), the charity's funds increased during the year by £51,359 (£355,822 increase in 2022). Total Unrestricted Funds of £3,645,555 were held as at 31st January 2023 (£3,594,196 at 31st January 2022). The charity's funds were represented primarily by investments and cash. ## Investments: The Trust's capital is invested in marketable investments or held in cash. As there are no specific restrictions under the governing deed, the Trustees have full discretion over the investments and so have delegated Rathbones Investment Management to have full discretionary day to day control of the investments. They have agreed objectives with the Investment Manager to secure a reasonable growth in income consistent with the long term preservation of capital in real terms. Investment decisions should be made based on the views of a prudent person in accordance with the standard of investment criteria relating to suitability and diversification. These objectives are reviewed annually. The Trustees wish to ensure that the objectives outlined above are achieved with an acceptable risk. This implies the need for diversification of investment of the Trust to include a range of assets, including fixed interest stocks, UK and overseas shares. Investments continue to comprise of holdings in UK, large overseas listed companies, unit and investment trusts, including those investing in major international markets and also fixed interest securities. The portfolio can therefore include a proportion of medium-sized or smaller UK companies and has exposure to international markets. The Investment Managers are required to operate within the constraints applying to trusts governed by the Trustee Act 2000. The performance of the fund is currently monitored against the benchmark of WM Unconstrained Funds. Page 3 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Trustees' Annual Report** The Investment Managers provide regular reports to the Trustees who review the performance of the portfolio and of the Investment Managers at least three times a year. The Trustees were pleased to note the maintained value of the investments over the last ten years despite the total grants that have been made during the same period. ## Reserves The Trustees do not consider the underlying capital to be reserves since they form the sole source of income for the Trust. It is not the intention of the Trustees to build up or maintain income reserves, with any under expenditure of income being balanced by over expenditure in preceding or subsequent years. The Charity had no long-term commitments as at the Balance Sheet date and net funds held were Unrestricted Funds, considered to be free reserves and fully available for spending at the Trustees' discretion. ## Risk Management The Charity Trustees have given consideration to the major risks to which the charity is exposed and are satisfied that systems or procedures have been established in order to manage those risks. After considering the areas of governance, operational, financial, environmental and compliance the Trustees have identified that major negative fluctuations in investment assets could cause a material risk to the Charity's funds. In order to mitigate this risk and in accordance with s15 Trustee Act 2000 the Trustees have established a Policy Statement to be adhered to by the Investment Manager, which is reviewed at least once a year in line with investment performance. ## **Structure, governance and management** This charitable trust was created by Deed dated 13th February 1998. Its governing body are the Board of Trustees. The power of appointing new Trustees is vested in the then current Trustees. The Trustees are selected due to their connection with the current Trustees in accordance with their skills, experience and understanding of the obligations imposed on such an appointment. The Trustees do not undergo formal training as such but ensure they operate in accordance with current practice and meet with their duties within their powers as advised by Rathbones Trust Company Limited and from guidance published by the Charity Commission. The Trustees meet three times a year to review applications for funding, investment performance, income levels and the financial statements. The charity's governing document does not impose meetings to be held in person. ## **Future plans** The Trustees intend to continue with their policy of distributing income after expenses to charitable causes throughout Merseyside and Wirral normally in one-off grants. From time to time, grants may be spread over a period of two or more years but this would be exceptional and the charity's reserves policy should be reviewed accordingly. Page 4 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Trustees' Annual Report** ## **Reference and administrative details** Registered No: 1073028 Principal office: C/o Rathbones Investment Management, Port of Liverpool Building, Pier Head Liverpool, L3 1NW Trustees who Roy Alfred Morris (Chairman) David Fairclough served during the Andrew Timothy Morris Stuart Neild Keppie year: Caroline Jane Lucy Tod Secretaries: Thomas William Evans Valerie Hewitt Accountancy: Rathbones Trust Co Ltd, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Independent Kerry Roberts (nee Clayton), C/o Port of Liverpool Building, Pier Head, Liverpool, Examiner: L3 1NW Bankers and Rathbones Investment Management, Port of Liverpool Building, Pier Head, Liverpool, Investment: L3 1NW ## **Trustees' Responsibilities** The Trustees are responsible for preparing the Trustees' Annual Report and Financial Statement in with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and its income and application of resources for that year. In preparing these accounts, the Trustees are required to: - select suitable accounting polices and then apply them consistently; - observe the methods and principles in the Charities SORP (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK accounting standards (FRS102) have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. Page 5 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Trustees' Annual Report** The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Declaration** The Trustees declare that they have approved the Trustee's report above. ## **As agreed and signed on behalf of the Board of Trustees** |_R A Morris_
**_Roy Alfred Morris_**
**_Chairman_**|**_11th July 2023_**| |---|---| ||**_Date_**| Page 6 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Independent Examiner's Report** ## **Independent examiner's report to the Trustees of the Hemby Charitable Trust - charity no: 1073028** I report on my examination of the accounts of the above charity ("the Trust") for the year ended 31st January 2023, which are set out on pages 7 to 17. ## **Responsibilities of the Trustees and Independent Examiner** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). You consider that an audit is not required under s144 of the Act and that an independent examination is needed. I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. It is my responsibility to state whether particular matters have come to my attention. ## **Basis of Independent Examiner's Report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair' view. The report is limited to those matters set out in the statement below. ## **Independent Examiner's statement** I am a member of an approved body subject to the provisions of the Revised Ethical Standard 2019 issued by the Financial Reporting Council (FRC). Rathbones Trust Company has provided book keeping services in accordance with the terms of engagement signed by the Trustees and I do not report to the book-keeper in any respect. I give due consideration to the FRC's Revised Ethical Standard 2019 at all times. I have completed my examination and confirm that no matters have come to my attention which give me cause to believe that in any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act, or - the accounts did not accord with the accounting records, or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. _K Roberts_ 11th July 2023 _**Date**_ _**Kerry Roberts TEP FMAAT MCSI Port of Liverpool Building, Pier Head, Liverpool**_ **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Statement Of Financial Activities** **----- Start of picture text -----**
Unrestricted Total Total
Funds Funds Funds
2023 2023 2022
£ £ £
Income from:
Investments 4 124,614 124,614 103,725
Other income 5 563 563 0
Total 125,177 125,177 103,725
Expenditure on:
Raising Funds 6 14,514 14,514 14,382
Charitable activities 7 111,682 111,682 117,277
Total 126,196 126,196 131,660
Net Gains/(Losses) on investments 12 52,379 52,379 383,757
Net movement in Funds 51,359 51,359 355,822
Reconciliation of funds:
Total Unrestricted Funds as at 1st February 2022 3,594,196 3,594,196 3,238,374
Net movement in Funds 51,359 51,359 355,822
Total Unrestricted Funds as at 31st January 2023 3,645,555 3,645,555 3,594,196
**----- End of picture text -----**
Page 8 ## **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Balance Sheet** |_Notes_
**Fixed Assets**
Investments
_12_
**Total Fixed Assets**
**Current Assets**
Debtors
_13_
Cash at Bank and in hand
_14_
**Total Current Assets**
**Liabilities:**
Creditors:
Amounts falling due within one year
_15_
**Net Current Assets / (Liabilities)**
**Total Net Assets as at 31st January 2023**
**Funds of the Charity**
**Total Charity Funds as at 31st January 2023**
Approved by the Board of Trustees on __11th July 2023|**Unrestricted**
**Total**
**Funds**
**Funds**
**2023**
**2023**
**£**
**£**
3,570,218
3,570,218
3,570,218
3,570,218
3,184
3,184
77,446
77,446
80,630
80,630
5,293
5,293
75,337
75,337
**3,645,555**
**3,645,555**
**3,645,555**
**3,645,555**|**_Total_**
**_Funds_**
**_2022_**
**_£_**
_3,532,418_
_3,532,418_
_2,859_
_62,892_
_65,752_
_3,973_
_61,778_
**_3,594,196_**
**_3,594,196_**| |---|---|---| _R A Morris_ _**Roy Alfred Morris Chairman**_ The notes on pages 10 to 17 form part of these accounts. Page 9 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Notes to the Accounts** ## **1 Charity Information** The Hemby Charitable Trust is a Public Benefit Entity governed by a Settlement Deed dated 13th February 1998 registered in England and Wales. Its principal address is C/o Rathbones Investment Management, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW. ## **2 Accounting Policies** The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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)” (second edition published in October 2019). The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared on the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below. The charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. ## **Going Concern** The Trustees have assessed whether the use of Going Concern is appropriate and have concluded the charity has adequate resources and reserves to enable it to continue in operational existence for foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern and thus the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the financial statements. ## **Charitable Funds** Unrestricted funds are available for use at the discretion of the charity in furtherance of their charitable objectives unless the funds have been designated for other purposes. ## **Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income Tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. All dividend income is recorded net and includes tax deducted only when it is repayable to the Charity. Page 10 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Notes to the Accounts** ## **Expenditure** Expenditure is recognised when paid or when there is a legal or constructive obligation for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount can be reliably measured as at the reporting date. A constructive obligation exists where the charity has communicated the commitment to provide particular funding to the recipient by the reporting date and there are no conditions attached to its payment falling due after the reporting date. Provisions for liabilities must be recognised when either the timing or the amount of future expenditure required to settle the obligation is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources is no longer required, provisions are reversed and charged to the SoFA. ## **Support Costs and Employee Benefits** All support costs and employee benefits are paid from Unrestricted Funds. The employees of the charity do not accrue holiday entitlement. Any termination benefits awarded are recognised immediately as an expense. ## **Tangible Fixed Assets** Tangible assets are capitalised if they can be used for more than one year and cost at least £1,000. They are valued at cost or, if gifted, at their value on receipt. The charity does not have any capitalised tangible assets at present. ## **Investments** Investments held in the fund are included at their market value as follows: - (a) Listed securities are valued at the mid market value ruling at the balance sheet date. - (b) Listed securities held in foreign currencies have been valued at the mid market value and translated into their sterling equivalents at the rates ruling at the balance sheet date. - (c) Gilts are valued at the mid market value ruling at the Balance Sheet date and include interest which has accrued up to that date. Investments are classified as a fixed asset except when classified as a current asset where the intention of the trustees is to dispose of the asset and not reinvest the proceeds. ## **Other recognised 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 subsequent cost and are charged or credited to the Statement Of Financial Activities in the year of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities resulting from revaluing investments to market value at the Balance Sheet date. ## **Taxation** The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates. Page 11 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Notes to the Accounts** ## **Cash at bank and in hand** Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. ## **Financial Instruments** The Charity has elected to apply the provisions of S11 'Basic Financial Instruments' and S12 Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## **Basic financial liabilities** Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or service that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due withing one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## **Derecognition** A financial asset is derecognised when it is settled or when the contractual rights to the cash flows expire. A financial liability is derecognised only when it is discharged, cancelled or expires. Page 12 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Notes to the Accounts** ## **3 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |**4 Investment income**
UK Gilts / Fixed Interest
UK Equities and Unit Trust Income
Overseas
Foreign Withholding Tax
**5 Other income**
Bank interest
**6 Raising funds**
Investment management costs
**7 Charitable Activities**
**_Grant making:_**
Charitable donations made to institutions
Returned donation
Office costs
Staff costs (note 9)
Governance costs (note 11)|**2023**
**£**
4,869
72,102
51,114
(3,471)
124,614
**2023**
**£**
563
563
**2023**
**£**
14,514
14,514
**2023**
**£**
96,283
(1,720)
788
8,966
7,365
111,682|**_2022_**
**_£_**
_4,274_
_86,939_
_15,493_
_(2,981)_
_103,725_
**_2022_**
**_£_**
_0_
_0_
**_2022_**
**_£_**
_14,382_
_14,382_
**_2022_**
**_£_**
_103,698_
_(2,500)_
_850_
_8,166_
_7,063_
_117,277_| |---|---|---| Details of the charitable donations made during the year are included in the Trustees' Annual Report. Page 13 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Notes to the Accounts** ## **8 Trustee and Staff Remuneration** The Trustees resolved to exercise the Power under clause 7.8 of the original settlement deed dated 13th February 1998 (the deed) and employ persons to assist with the day-to-day running of the Trust and to pay, enter into agreements and fix such reasonable salary as they in their discretion think fit. |**9 **|**Staff Costs and Employee Benefits**|**2023**|**_2022_**| |---|---|---|---| |||**£**|**_£_**| ||Salary - Gross|8,966|_8,166_| Employment Allowance reduced Employer's NIC contributions for the year to nil. The Trustees were not required to make a pension available to the current staff during the year ended 31st January 2023 or 31st January 2022. The average number of part time equivalent employees during the year was 2 (2 in 2022) with all employee time involved in providing support to the charity's activity of grant making. No employees received employee benefits of more than £60,000 during the year ended 31st January 2023 or year ended 31st January 2022. ## **10 Trustee expenses, remuneration and benefits** None of the Trustees have been paid remuneration or received any benefits from employment with the charity during the year ended 31st January 2023 or year ended 31st January 2022. No Trustee expenses have been incurred during the year ended 31st January 2023 or year ended 31st January 2022. |**11 Governance Costs**
Accountancy, compliance and administration fees
Independent Examination fees
Taxation fees - PAYE
Insurance|**2023**
**£**
4,800
840
1,010
715
7,365|**_2022_**
**_£_**
_4,800_
_720_
_840_
_703_
_7,063_| |---|---|---| Page 14 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Notes to the Accounts** |**12 Investment assets**
_Value at_
Purchases
Sales
_31/01/20222_
at cost proceeds
_Listed investments:_
Total Fixed Interest
_177,910_
0
0
Total Overseas
_1,814,441_
(1,113) (110,230)
Total Equity
_1,540,067_
304,658 (207,894)
Roundings
_3,532,418_
303,545 (318,124)
**13 Current assets**
_Debtors_
Dividends receivable
**14 Cash at bank and in hand**
Cash at bank
**15 Creditors and Provisions**
_Creditors: Amounts falling due within one year_
Other creditors and accruals
PAYE & NI contributions
Office costs
Grant payable|Realised
Unrealised
Gain/(Loss)
Gain/(Loss)
0
(17,161)
(8,993)
2,545
639
75,349
(8,354)
60,733
**2023**
**£**
3,184
3,184
**2023**
**£**
77,446
77,446
**2023**
**£**
4,060
182
51
1,000
5,293|Value at
31/01/2023
160,749
1,696,650
1,712,819
3,570,218
**_2022_**
**_£_**
_2,859_
_2,859_
**_2022_**
**_£_**
_62,892_
_62,892_
**_2022_**
**_£_**
_3,943_
_30_
_0_
_0_
_3,973_| |---|---|---| ## **16 Capital commitments and Contingent liabilities** At the 31 January 2023 and 31 January 2022 the Trust had no capital commitments or contingent liabilities. Page 15 ## **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Notes to the Accounts** |**17 Financial Instruments**
**Carrying amount of financial assets**
Debt instruments receivable within one year
- Debtors
- Cash
**Carrying amount of financial liabilities**
Payable within one year
- Creditors
**Instruments measured at fair value through SOFA**
Investments at value
**18 Comparative Statement of Financial Activities**
**Income from:**
Investments
**Total**
**Expenditure on:**
Raising Funds
Charitable activities
**Total**
Net Gains/(Losses) on investments
**Net movement in Funds**
**Reconciliation of funds:**
Total Unrestricted Funds as at 1st February 2021
Net movement in Funds
**Total Unrestricted Funds as at 31st January 2022**|**2023**
**£**
3,184
77,446
80,630
5,293
3,570,218|**Unrestricted**
**Funds**
**2022**
**£**
103,725
**103,725**
14,382
117,277
**131,660**
383,757
**355,822**
3,238,374
355,822
**3,594,196**|**_2022_**
**_£_**
_2,859_
_62,892_
_65,751_
_3,973_
_3,532,418_
**Total**
**Funds**
**2022**
**£**
103,725
**103,725**
14,382
117,277
**131,660**
383,757
**355,822**
3,238,374
355,822
**3,594,196**| |---|---|---|---| Page 16 **THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023** ## **Notes to the Accounts** ## **19 Transactions with related parties** Interests are always properly declared and acknowledged during determination of applications. In these situations the person with the related party interest does not participate in the decision making other than to clarify facts. This includes the giving due consideration to trustees in common. There have been no related party transactions during the year ended 31st January 2023 or year ended 31st January 2022 requiring disclosure. Page 17