Charity registration number 1076713 THE HOSKING HOUSE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE HOSKING HOUSE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Carole Manship John Elliot Helen Maclagan Amanda Smyth Margo Galvin (Appointed 1 April 2025) (Resigned 18 April 2025) : Honorary Fellows Patron Charity number Wendy Harrison Elizabeth Speller David Wright Gill Sutherland Dame Emma Thompson 1076713 Principal office 33, The Square Clifford Chambers Stratford Upon Avon CV37 8HT Independent examiner TC Group Celixir House Stratford Business & Technology Park Innovation Way, Banbury Road Stratford-upon-Avon Warwickshire United Kingdom CV37 7GZ Independent examiner Lloyds TSB Bank plc 22 Bridge Street Stratford Upon Avon CV37 6AG Solicitors Shakespeare Martineau Bridgeway House Bridgeway Stratford Upon Avon C37 61X
THE HOSKING HOUSE TRUST CONTENTS Trustees report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements Page 1-4 5-6 7 8 9 - 17
THE HOSKING HOUSE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements 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 Objectives and activities The object of the original charity was the relief of poverty by providing, maintaining and improving accommodation and financial support for women artists/writers of further promise and acknowledged achievement. In March 2025 the objects were updated to better align with those of the newly established CIO, which are to relieve the charitable needs of women artists aged over 40 and to advance the arts by provision of residencies. Public benefit The trustees have complied with their public benefit duty through providing residencies to individual writers and artists as described, thus enriching the cultural landscape through the works produced and providing inspiration to aspirant creative practitioners. Our principal activity was the provision of residencies in Church Cottage to appropriate applicants, organising our calendar to make maximum use of the Cottage's capacity. We were successful in obtaining a grant from Amazon Literary Partnership which enabled us to offer some bursaries to those in need. We also renewed our partnership with the Women in Art Prize which helps bring our Trust to the attention of a wider audience. Volunteers The Hosking Housing Trust utilises volunteers to assist in our work. -1-
THE HOSKING HOUSE TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance Significant activities and achievements against objectives We provided thirteen residencies during the year, numerically more than average because Kate Strasdin came for two sessions of two weeks, (due to family commitments); we were especially keen to accommodate her because her published work on the historicity and nature of fabrics and period clothing we thought unique and scholarly. Our residencies are clearly known in faraway lands as Jane Williams, an established poet from Tasmania, came on a grant from Arts Council Australia to write about her UK forebears. Lucy Jones came from Berlin for a short residency and we were pleased to receive Jesse Allen, professor of law at Pittsburgh University, USA who came to research her biography of William Blackstone, the guru of American constitutional law. Louise Campbell continued to select our artists and on her excellent recommendation, Angela Malone came from Kent, Gill McFarland from Scotland. Rachel Ball is a graphic novelist from London and Helen Simmonds, a painter from the west country making small-scale but exquisite work. Our collaboration with Coventry University ended this year with their final appointment of Olivia Garro from Italy. Our cultural range was emphasised by receiving Melanie Wilson, a multi-disciplinarian performance maker and Sasha Dugdale working on a project linking John Keats surgical training to his poetry. From the eleven individuals hosted who wrote their report on the conclusion of their residency, all found their time with us beneficial and we increasingly find that it is word of mouth and personal recommendation that lead us to new applicants of calibre. 2024 31st March - 19th April 20th April - 31st May 3rd - 17th June 22nd June - 19th July 19th - 30th August 1/2nd - 27th September 5/6th - 18th October 19/20th October - 29th November 1st - 22nd December 2025 29th December - 31st January 2nd February - 14th March 16th March - 25th April Angela Malone, artist Jane Williams, poet Kate Strasdin (1) dress historian Olivia Garro (Coventry University appointment) Kate Strasdin (2) Gill McFarland, artist Lucy Jones (Berlin) translator Rachel Ball, graphic novelist Sasha Dugdale, poet/Russian translator Melanie Wilson, multi-disciplinarian/ performance Helen Simmonds, artist Jesse Allen, lawyer/biographer -2-
THE HOSKING HOUSE TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review The Trust's closing bank balance at this year's year end was f352,582. This amount was due to the interim legacy received from Simon Hosking, brother of the founder, in October 2024 of £350,000 During the year the total of the charity's income resources was £433,187 (2024:£16,697). Expenditure for the year was £26,450 (2024:£51,409). The charity had total funds at the end of the year of £771,411 (2024;£301,402). The Trustees have a strategic and operational plan in place to ensure stability and growth. Reserves Policy The Trust's policy on reserves is to hold sufficient resources to continue the charitable activities of the Trust should income and fundraising activities fall short. The Trustee Board considers that the Trust should hold circa £5k to cover all unexpected costs linked to the building and activities. Investment Policy The Trust's Income and Expenditure is very small and as a consequence it does not have sufficient funds to invest in longer-term investments such as stocks and shares. The Trust has therefore adopted a low risk strategy to the investment of its funds. All funds are held in cash using only one mainstream bank. The Trustee Board regularly monitors the levels of bank balances and the interest rates received to ensure the Trust obtains maximum value and income from its banking arrangements. Occasionally this may involve using an account that requires a period of notice before funds may be withdrawn. In these circumstances, the Trustee Board considers the cash flow requirements. Structure, governance and management The Hosking House Trust is constituted under a trust deed dated April 1995 and is a registered charity (no. 1076713). The trustees who served during the year and up to the date of signature of the financial statements were: Carole Manship Helen Maciagan Amanda Smyth Margo Galvin (Apponted 1 April 2025) (Resigned 18 April 2025) Recruitment and appointment of trustees The method of recruitment and appointment of new trustees is that they are elected by existing trustees. New trustees undergo an orientation process to brief them on their legal obligation under charity law, the charity's governing documents, the committee and decision making processes, the business plan and recent financial performance of the charity. Trustees are encouraged to attend appropriate external and internal training events which will assist them in carrying out their role. - 3-
THE HOSKING HOUSE TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Organisational structure The Trust is managed by the Trustee Board. As charity trustees they are responsible for complying with legisiation applicable to charities. This includes the registration, keeping proper accounts and making returns to the Charity Commission as appropriate. The Trustee Board consists of the Chair, and (for the year in question) 3 Trustees and meets every 3 months. This Trustee Board exists to make sure the charity is well-managed, risk are assessed and mitigated, buildings and equipment are in good working order, and everyone follows legal requirements and the organisation's policies and rules. During the course of 2024-2025 the charity continued preparatory work with a view to transferring its The trustees report was approved by the Board of Trustees. Cacole Mandy C Manship Trustee 21 January 2026 -4-
THE HOSKING HOUSE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HOSKING HOUSE TRUST I report to the trustees on my examination of the financial statements of The Hosking House Trust (the Charity) for the year ended 31 March 2025. Responsibilities and basis of report is the trustees of the Charity you are responsible for the preparation of the financial statements in accordanc vith the requirements of the Charities Act 2011 (the 2011 Act) I report in respect of my examination of the Charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act, I confirm that l am qualified to undertake the examination because | am a member of the institute of Chartered Accountants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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 that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2 3 the financial statements do not accord with those records; or the financial statements do 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 financial statements to be reached. TCaroup TC Group Celixir House Stratford Business & Technology Park Innovation Way, Banbury Road Stratford-upon-Avon Warwickshire -5-
THE HOSKING HOUSE TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF THE HOSKING HOUSE TRUST CV37 7GZ United Kingdom Dated: 21 January 2026 - 6-
THE HOSKING HOUSE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds 2025 funds 2025 Notes Income from: Donations and legacies Other trading activities 3 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net gains/(losses) on investments Net income/(expenditure) Transfers between funds Other recognised gains and losses: Revaluation of tangible fixed assets Net movement in funds Reconciliation of funds: Fund balances at 1 April 2024 Fund balances at 31 March 2025 431,877 1,310 433,187 26,450 26,450 39,500 446,237 (50) 26,872 473,059 298,352 771,411 - - - 210 210 - (210) 50 - (160) 3,050 2,890 Total Unrestricted funds 2025 € 2024 € 431,877 1,310 433,187 26,660 26,660 39,500 446,027 - 26,872 472,899 301,402 774,301 Restricted funds 2024 € 10,642 680 11,322 21,420 21,420 (10,098) 970 (9,128) 307,480 298,352 5,375 5,375 29,989 29,989 (24,614) (970) (25,584) 28,634 3,050 Total 2024 € 16,017 680 16,697 51,409 51,409 (34,712) - - (34,712) 336,114 301,402 The statemederve from con activities include all gains and losses recognised in the year. All come and -7-
THE HOSKING HOUSE TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 € Fixed assets Tangible assets Investment property Notes 12 250,000 100,000 350,000 Current assets Debtors Cash at bank and in hand 13 74,296 352,582 426,878 (2,577) Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Net assets excluding pension liability 14 424,301 774,301 774,301 The funds of the Charity Restricted income funds Unrestricted funds 15 2,890 771,411 774,301 The financial statements were approved by the trustees on 21 January 2026 Cave Manito, C Manship Trustee - 8- 2024 € 227,777 60,500 288,277 13,125 13,125 13,125 301,402 301,402 3,050 298,352 301,402
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies Charity information The Hosking House Trust is constituted under a trust deed dated April 1992 and is a registered charity. 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest E. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds objectives. Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 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. - 9-
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies (Continued) Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, andthe amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings 2% straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Investment property Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. 1.8 Impairment of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.9 Cash and cash equivalents 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 10-
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies (Continued) 1.10 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 '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 payments 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 services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within 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 of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. - 11-
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2 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 are 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. Income from donations and legacies Unrestricted funds 2025 € Restricted funds 2025 € Total Unrestricted Restricted funds 2025 2024 funds 2024 Total 2024 € Donations and gifts Legacies receivable Other grants Arts Council England 3,082 424,295 4,500 : 3,082 424,295 4,500 - 4,642 4,000 2,000 : 2,500 2,875 4,642 4,000 4,500 2,875 431,877 - 431,877 10,642 5,375 16,017 4 Income from other trading activities Unrestricted Unrestricted funds funds 2025 2024 Other income 1,310 680 - 12-
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 5 Expenditure on charitable activities Charitable activities 2025 Direct costs Depreciation and impairment Church cottage costs Trust costs Fundraising costs Bursaries and prizes Open House Project (ACE) Landing stage Independent examiners fee Analysis by fund Unrestricted funds Restricted funds 4,649 6,639 9,465 217 1,750 210 - 3,730 26,660 26,450 210 26,660 Charitable activities 2024 € 4,649 6,562 7,262 216 3,400 27,290 2,030 51,409 21,420 29,989 51,409 6 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets 2025 2025 3,730 4,649 2024 2024 4,649 7 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. Trustees' expenses There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. - 13-
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 8 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than €60,000. Gains and losses on investments Unrestricted Unrestricted funds funds 2025 2024 € Gains/(losses) arising on: Revaluation of investment properties 39,500 10 Taxation 11 Tangible fixed assets The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. Cost At 1 April 2024 Revaluation At 31 March 2025 Depreciation and impairment At 1 April 2024 Depreciation charged in the year At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 Freehold land and buildings € 232,426 26,872 259,298 4,649 4,649 9,298 250,000 227,777 - 14-
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Investment property Fair value At 1 April 2024 Net gains or losses through fair value adjustments At 31 March 2025 • 2025 60,500 39,500 100,000 13 Debtors Amounts falling due within one year: Other debtors 2025 € 74,296 2024 - 14 Creditors: amounts falling due within one year Accruals and deferred income 2025 2,577 2024 15 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2024 Incoming resources € Resources expended Transfers At 31 March 2025 € - (210) 50 2,890 Previous year: 3,050 At 1 April 2023 28,634 Incoming resources € 5,375 Resources expended (29,989) Transfers At 31 March 2024 € (970) 3,050 - 15-
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 € Incoming resources € Resources expended € Transfers Gains and At 31 March losses 2025 € € General funds 298,352 433,187 (26,450) (50) 66,372 771,411 Previous year: At 1 April 2023 General funds € 307,480 Incoming resources € 11,322 Resources expended Transfers Gains and losses (21,420) 970 - At 31 March 2024 € 298,352 17 Analysis of net assets between funds Unrestricted funds 2025 Restricted funds 2025 € Total 2025 € At 31 March 2025: Tangible assets Investment properties Current assets/(liabilities) 250,000 100,000 421,411 : 2,890 250,000 100,000 424,301 771,411 2,890 774,301 Unrestricted funds 2024 € Restricted funds 2024 € Total 2024 At 31 March 2024: Tangible assets Investment properties Current assets/(liabilities) 227,777 60,500 10,075 : 3,050 227,777 60,500 13,125 298,352 3,050 301,402 - 16-
THE HOSKING HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Events after the reporting date On 1 April 2025, the charity was converted to a Charitable Incorporated Organisation. 19 Related party transactions There were no disclosable related party transactions during the year (2024 - none). - 17 -