THE HEMBY CHARITABLE TRUST { Charity Registration Number: 1073028) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Si &rwE-O Rothbone Th4St Compony Limited
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Index Page 1-6 Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheel 10-17 Notes to the Accounts
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 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 2024. 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 limes 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 beslowed by the charity's governing document, capital and income may be distributed at the Trustees, discretion. The Trustees have a policy of supporling 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 Ihe investment porlfolio, no other fund raising aclivity 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 guidan is relevant. Achievements and Performance During the year the Trustees resolved lo make a number of donations from Unrestricted Funds. sn 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 71 applications for funding were received (62 in 2023). Of Ihese 55 {77 % ) were offered a grant (54 - 87 /0 in 2023) totalling £105,677 (£96,283 in 2023). Donations varied in amount between £1.000 to £5.000. Not all grants awarded were paid during the year but prowsion 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 Ihe Aged The Arts 65,912 20.265 5,500 14,000 63 19 105,677 100 Since the Trust started to make donations in 1998. a total in excess of £2.700.408 has been paid lo over to 1,648 charitable causes based mostly in Merseyside and Wirral. A full list of donations made from Unrestricted Funds during the year in alphabelical order follows. Page 1
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Trustees, Annual Report 1st Lydiate Scout Group Ainsdale Lunch & Leisure Apex Charitable Trust Asthma Relief Ataxia Telangiectasia Society Bluecoat Display Centre Bright Park British Wireless for the Blind Cells Project CIO Child Brain Injury Trust Chrysalis Holidays (The Epiphany Trust) Clatterbridge Cancer Charity Crosby Group Riding for Disabled Dar ak Zahra Deafblind UK Dementia Together Wirral Edge Hill Youth & Community Centre Ltd Fields in Trust Freshfields Animal Rescue Go Beyond Happy Days Children's Charity Hive Youth Zone Kind Leukaemia & Myeloma Research UK Liverpool Biennial of Contemporary Art Ltd Liverpool Cares Ltd Liverpool School of Tropical Medicine Marine in Ihe Community Meningitis Now Merseyside Play Action Council Music in Hospitals & Care North West Air Ambulance Opening Doors Porchfield Community Association Positivitree Rapid Response North West Re-engage Rotunda Royal Court Liverpool Trust Sam's Diamonds (Cancer Care Charity) Sefton Women's & Childrens Aid Sense Shaftesbury Youth Club Shakespeare North Playhouse Speke Baptist Church Spinal Injuries Association stick n Step 1.500 1,500 1,000 1,140 2.000 2,500 1,000 2,268 1,500 2,000 2,000 4,000 1,000 1.500 1,500 2,500 1,000 2,000 1.294 1,000 1,020 1,000 2,000 3,000 2.500 3,000 2,500 3.000 1.000 2,500 1.500 2,000 2,000 1,500 2,000 1,500 1,000 1,500 2,000 1,500 5,000 1,745 2,000 2,500 1,700 2,000 2.760 Page 2
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST JANUARY 2024 Trustees. Annual Report Support Through the Court Tall Ships Youth Tnjst Teenage Cancer Trust Toxteth Women's Centre Williamson & Priory Friends Willowbrook Hospice Yellow House Ykids 1,500 2,000 4,000 2,500 500 2,000 750 2.500 Total 105,677 Financial review Income from investrnents totalled £107.816 (£125,177 in 2023) with £14,439 (£14,514 in 2023) being spent raising funds in the form of investment management charges. A total of £121.808 (£111,682 in 2023) was applied directly towards charitable purposes, of which £105,677 (£96,283 in 2023) was awarded in grants. The Trustees met wilh their objective to distribute the majority of net income received during the financial year After taking net losses on investment assets of £104.905 into account (gains of £52.379 in 2023). the charity's funds decreased during the year by £133.337 (£51.359 increase in 2023). Total Unrestricted Funds of £3,512,218 were held as at 31st January 2024 {£3.645.555 at 31st January 2023). 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 tenn preSeallOn 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 diversificalion of investmenl of the Trusl 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, induding 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.
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Trustees. Annual Report The Investment Managers provide regular reports to the Trustees who review the performance of the portrolio 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 thal 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 IT) 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 resenies and fully available for spending at the Trustees, discretion. Risk Mana ement 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 Truslees have established a Policy Statement to be adhered to by the Investment Manager, which is reviewed at leasl once a year in line with investment perfomiance. 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 guidanGe published by the Charity Commission. The Trustees meet three times a year to review applicalions for funding. investment performance, income levels and the financial ststements. The chariws goveming document does not impose meetings to be held in person. Future plans The Trustees intend to continue with their policy of distribuling income after expenses to charilable 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 2024 Trustees. Annual Report Reference and administrative details Registered No: 1073028 Principal office= Clo Rathbones Investmenl Management. Port of Liverpool Building. Pier Head Liverpool. L3 1 NW Trustees who served during the year.. Andrew Timothy Morris Caroline Jane Lucy Tod David Fairclough Stuart Neild Keppie Roy Alfred Morris (retired 6th November 2023) Secretaries- Thomas William Evans Valerie Hewitt Accountancy: Rathbones Trust Co Ltd, Port of Liverpool Building. Pier Head. Liverpool, L3 1 NW Independent Examiner: Laura Cross. Clo Port of Liverpool Building, Pier Head. Liverpool. L3 1 NW Bankers and Investment- Rathbones Investment Management, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW Trustses. 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 appty them consistentty: observe the methods and principles in the Charities SORP {FRS 102); make judgements and estimates that are reasonable and prudenL 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 concem basis unless it is inappropriate to presume that the Charity will continue in operation. P5
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 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 Charily and hen for taking reasonable steps for the prevention and deteclion 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 24 Andrew Tlmothy Morris Chalrman Date Page 6
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Independent Examiner's Report Independent examiners 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 2024, which are set out on pages 7 to 17. Responsibilities of the Trustees and Independent Examiner As the charity's truslees, you are responsible for the preparation of the accounts in accordan 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 Examlner's Report My examinalion 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 wth 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 l 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 accordan 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 confinn 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 accordan wth 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 fairf 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. lob/ 102 Laura Cross TEP MAA T Port of Liverpool Building, Pier Head. Llverpool Date
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Statement Of Financial Activities Unrestricted Funds 2024 Total Funds 2024 Total Funds 2023 Income from.. Investments Other income 105.777 2,039 105,777 2,039 124,614 563 Total 107,816 107,816 125,177 Expenditure on: Raising Funds Charitable activities 14,439 121.808 14,439 121.808 14,514 111,682 Total 136,247 136,247 126,196 Net Gainsl{Losses) on investments 12 (104,905) {104,905) 52,379 Net movement in Funds (133,337) (133,337) 51,359 ReconGiliatlon of funds: Total Unrestricted Funds as at 1st February 2023 3,645.555 3.645.555 3,594, 196 Net movement in Funds (133,337) {133.337) 51,359 Total Unrestricted Funds as at 31st January 2024 3,512,218 3,512,218 3, 645, 555 Page 8
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Balance Sheet Unrestricted Funds 2024 Total Funds 2024 Total Funds 2023 Notes Fixed Assets Investments 12 3.431.773 3.431.773 3,570,218 Total Fixed Assets 3,431,773 3,431,773 3,570,218 Current Assets Debtors Cash at Bank and in hand 13 14 2,943 89.626 2,943 89,626 3,184 77.446 Total Current Assets 92,569 92,569 80,630 Liabilities: Creditors: Amounts falling due within one year 15 12,125 12,125 5, 293 Net Current Assets l (Liabilities) 80,445 80,445 75,337 Total Net Assets as at 31st January 2024 3.512,218 3,512,218 3,645,555 Funds of the Charlty Total Charity Funds as at 31st January 2024 3,512,218 3,512,218 3,645,555 Approved by the Board of Trustees on lol and signed on its behalf by- Andrew Timothy Chalrman orris 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 2024 Notes to the Accounts q 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 Clo Rathbones Investment Management, Port of Liverpool Building. Pier Head, Liverpool, L3 1 NW. 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 goveming document. the Charities Acl 2011 and Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)° (second edilion 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 charitls 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 donalions are recognised once the charity has been notified of the donation. unless performan 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 Charily. Page 10
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 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 obligalion exists where the charity has communicated the commitment to provide particular funding to the recipienl by the reporting date and there are no conditions attached to tts payment falling due after the reporiing 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 Iheir market value as follows-. (a) (b) Listed securities are valued at the mid market value ruling at the balan sheet date. 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. Gilts are valued at the mid market value ruling at the Balance Sheet date and include interest which has accrued up to that date. (c) Investments are classified as a fixed asset expt when classified as a current asset where the inlention 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 calculaled as the dtfference between sales proceeds and their market value at the start of the year, or their subsequent cosl and are charged or credited lo the Ststemenl Of Finanal 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 lax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates. Pagell
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Notes to the Accounts Cash at bank and in hand Cash at bank and in hand is held to meet short-term cash commilments 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 enforable right to set off the recognised amounts and there is an intention to settle on a nel basis or to realise the asset and settle Ihe liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction pri 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 al a market rate of interest. Financial assets classified as receivable wthin one year are not amortised. Basic financial liabilitles Basic fi'nancial 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 c5assified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interesl rale method. Trade creditors are obligations to pay for goods or Servi 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. Pag8 12
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 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 2024 2023 UK Gilts l Fixed Interest UK Equities and Unit Trust Income Overseas Foreign Withholding Tax Excess Reportable Income 8,479 70,689 30,016 (3,413) 4,869 72,102 51,114 (3,471) 105.777 124,614 5 Other income 2024 2023 Bank interest 2.039 563 2.039 563 6 Raising funds 2024 2023 Investment management costs 14,439 14,514 14,439 14,514 7 Charitable Activities Grant making.. Charilable donations made to institutions Returned donation Office costs Staff costs (note 9) Governance costs (nole 11) 2024 2023 105,677 (2,873) 911 9,758 8,334 96.283 {1 ,720) 788 8.966 7,365 121,808 111,682 Details of the charilable 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 2024 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 lo 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 2024 2023 Salary- Gross 9.758 8,966 Employment Allowance reduced Employerfs 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 2024 or 31st January 2023. The average number of part time equivalent employees during the year was 2 (2 in 2023) with all employee time involved in providing support to the charitrfs activity of grant making. No employees received employee benefits of more than £60,000 during the year ended 31st January 2024 or year ended 31st January 2023. 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 2024 or year ended 31st January 2023. No Trustee expenses have been incurred during the year ended 31st January 2024 or year ended 31 st January 2023. 11 Governance Costs 2024 2023 Accountancy, compliance and administration fees Independent Examination fees Taxation fees - PAYE Insurance ' Trafalgar Fiduciary Sem 4,944 840 1,290 720 540 4,800 840 1,010 715 8,334 7,365 Section 189 of the Charities Act provides a general power to buy Trustee Indemnity Insurance using charity funds. The charity paid £720 during the year ended 31st January 2024 for insurance cover, which included Trustee Indetnnity Insurance. Page 14
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024 Notes to the Accounts 12 Investment assets Value al Purchases Sales Realised Unrealised Value at 31/01/2023 at cost proceeds Gainl(Loss) Gainl{Loss) 3110112024 Listed investments.. Total Fixed Interest Total Overseas Total Equity 160, 749 1.696, 650 1,712.819 9,768 (45) 3,020 153,956 52,803 1,751,312 (160,360) 1,526,505 1,859 25,631 (324) 3,570,218 1.859 35.399 368 104,537 3,431,773 13 Current assets Debtors Dividends receivable 2024 2023 2.943 3,184 2.943 3,184 14 Cash at bank and in hand 2024 2023 Cash at bank 89,626 77,446 89,626 77,446 15 Creditors and Provisions Creditors.. Amounts falling due within one year Other creditors and accruals PAYE & Nl contributions Office costs Grant payable 2024 2023 5,404 201 19 6.500 4,060 182 51 1,000 12,125 5,293 16 Capltal commitments and Contingent liabilities At the 31 January 2024 and 31 January 2023 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 2024 Notes to the Accounts 17 Financial Instruments 2024 2023 Carrying amount of flnancial assets Debt instruments receivable within one year Debtors Cash 2,943 89.626 3,184 77,446 92,569 80, 630 Carrying amount of financial liabilities Payable within one year Creditors 12,125 5,293 Instruments measured at fair value through SOFA Investments at value 3,431,773 3,570,218 18 Comparative Statement of Financial Activities Unrestricted Funds 2023 Tofal Funds 2023 Income from: Investments Other income 124,614 563 124,614 563 Total 125,177 125,177 Expenditure on: Raising Funds Charitable activities 14,514 111,682 14,514 111,682 Total 126,196 126,196 Net Gainsl{Losses) on investments 52,379 52,379 Net movement in Funds 51,359 51,359 Reconciliation of funds: Total Unrestricted Funds as al 1st February 2022 3,594.196 3,594.196 Net movement in Funds 51,359 51,359 Total Unrestricted Funds as at 31st January 2023 3.645,555 3,645,555 Page 16
THE HEMBY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31STJANUARY 2024 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. David Fairclough seNed as a Trustee of Marine in The Community. who received a grant of £3,000 and took no part in the grant decision. There have been no further related party transactions during the year ended 31st January 2024 or year 31st January 2023 requiring disclosure. Pag8 17