Charity registration number: 1080587
The H C Beer Charitable Trust
Annual Report and Financial Statements for
the year ended 31 December 2024
Contents
| Reference and Administrative Details……………………………………………………………... | 1 |
|---|---|
| Trustees' Report……………………………………………………………………………………... | 2 to 4 |
| Independent Examiners’ Report……………………………………………………………………. | 5 |
| Statement of Financial Activities………………..……………………………………….…………. | 6 |
| Balance Sheet…………………………………………………………………………………………. | 7 |
| Notes to the Financial Statements………………………………………………………………….. | 8 to 14 |
The H C Beer Charitable Trust
Reference and Administrative Details
Charity name The H C Beer Charitable Trust Charity registration number 1080587 Principal office Salisbury House London Wall London EC2M 5PS Trustees Mr M N Duncan Mr P R Campbell Mr P A Caruana (appointed 06/02/2025) Mr R Clegg (appointed 06/02/2025) Mr G Owen (appointed 06/02/2025) Mrs E West-Sadler (resigned 06/02/2025) Mr A Grier (resigned 06/02/2025) Rev C West-Sadler (resigned 06/02/2025) Independent examiner Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD Investment Manager Quilter Cheviot Senator House 85 Queen Victoria Street London EC4V 4AB
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The H C Beer Trust
Trustees’ Report
The Trustees present their report and financial statements for year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the financial statements and comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019).
Structure, governance and management
Constitution
The charity was formed by a Charitable Trust Deed ("the Deed") dated 7 March 1999 between Mrs Hilda Charlotte Beer ("the Settlor") and Mrs Hilda Charlotte Beer and Charles Francis William West-Sadler ("the Trustees"), the Settlor transferred to the trustees the sum of £100. Under the terms of the Deed the "Trust Fund", which not only includes the above but also any additional transfers and accumulations of income.
Since the date of the deed the property “The Drum and Monkey”, Whitecross Street, London and the holding of 5561 Sun Life & Provincial Holdings Plc ordinary £1 shares have been added to the trust by the Settlor and the sum of £18,687.02 by the trustees of the Miss L K Duff Discretionary Settlement.
Method of appointment or election of Trustees
New trustees are appointed by the existing trustees by way of a meeting and a subsequent deed formalising the appointment, or simply by deed alone.
Policies adopted for the induction and training of trustees
Due to the small size of the charity, there is no formal induction process save the attendance at meetings and information made available to that trustee by the existing trustees.
Related party relationships
All related party relationships are noted elsewhere in these accounts.
Risk management
The trustees have identified the main risks applicable to the charity and these concern the value of the investments. The trustees have mitigated this risk by appointing Quilter Cheviot, as investment managers, to manage the portfolio on their behalf.
The trustees appointed Quilter Cheviot to manage the investment portfolio. This is managed by reference to a policy document which sets out the objectives of the trustees as regards the investments and the respective responsibilities. The portfolio is currently managed under a “balanced” approach between capital and income.
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The H C Beer Trust
Trustees’ Report
Objectives and Activities
Policies and objectives
The trustees have agreed a policy statement with Quilter Cheviot and monitor the performance of the investments regularly by way of reporting and other communications received from Quilter Cheviot.
Strategies for achieving objectives
The trustees have regard to the Charity Commission guidance concerning the public benefit when furthering the objectives of the charity.
Activities for achieving objectives
The charity is a grant-making charity.
Achievements and performance
Review of activities
Donations totaling £54,500 (2023 - £31,000) were made during the year.
Investment policy and performance
The value of the investments rose in the period under review due to improving market sentiment. The Trustees continue to monitor the position along with the investment manager, Quilter Cheviot.
Financial Review
Results
The Trust had a net increase for the period of £50,482, increasing total funds from £1,617,088 to £1,667,570.
Reserves policy
The trustees will maintain sufficient reserves to meet unforeseen requirements and consider that unrestricted reserves should be no less than £10,000. The trustees recognise that the objects of the charity are not such as to normally give rise to any special risk or require any contingencies. The donations are reviewed each year in line with available income.
Plans for future
There are no significant changes planned for the charity which will continue with its current objectives.
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The H C Beer Charitable Trust
Trustees’ Report
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that 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.
Approved by the Trustees and signed on their behalf by:
Mr M Duncan Trustee
Date… 15 October 2025
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Independent Examiners Report to the Trnstees of The H C Beer Charitable Trust I rew)rl to the trustees on my examination of the financial statements of H C Beer Charitable Trust I'ihe Lharily'l fc)r the year ended 31 December 2024 whiLh Lomprise the Slalemenl ol Financial Ailivities, the Balanie Sheet and related notes. This roporl is made solely lo the charity's trustees, as a body, in accordance with section 14$ of the Charities ALt 2011. My WL)rk has been undertaken so that I might slate l() the charity's IruslLS those milttLirs I (im rL4quired Ici stalL to them in this repc)rl and foi no other purp()se. To the fullosl extent permitted by law, I dii n()t aiCL'pI (Ir absumL? fLisponsibilily to anyone c)thL?r than IhL charity Jnd the charity's trustees as bL)dy, for my WL)rL for this repurl, OT for the opinions I havL' formed. Responsibilities and basis of report As thL' trustees of thL Lharily you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 I'the Act'l. I report in resPL1 of my examination of the charity's financial slalemenls carried out under 5eclii)n 145 (jf Ihl. Ail and in iarrying ()ul my examination I have fc?IIowLd all the applicable D1ctI{n¥ giv¢Jn by the Charity Ci)mmis5i(?n under section 145{5llbl of the Act. An indL'PLindent Lhxaminalion dues nul invc)Ive gatherins all the evidenie that would bL? requirL.d in an audit and c()n5L'quiinily dc)L's ni)I c()ver all the mallers that an auditi)r considers in 8ivin8 their i)pinic)n i)n IhL. finanLiLiI sl&ilLimLinls. ThL' planning and ic)nduct ()f an ¢iudil s()LS beyond the limilL.d <issuranLL' that cin indLPLiI)diinl L&xaminaliiin can pr()vidL. ConsLyuently l LixprL'SS n() ()pini()n as Ii) whLthL'r IhL, financial slalLimL4nts pr¢hsLinl 11 'true and fair, view and my report is limited t() thi)se specific mallers 5L41 ()ul in the independent examiner's statement. Independent examinerfg statement I h£lVL' L()mplotL.d my examination. I confirm that nn mati'rial mallcrs have iomo to my attenti()n in c()nnL'ili()n with IhLI Lixaminati()n giving me cause lo believe that in any malL'rial rL15pccI'. accc)unling recc)rd5 werLI not kept in respect of the charity as required by section 130 of the Act,. or thL, financial slalemenls do nol accord with those rL?cords,' or IhL, fincilliial slalL'mL'nls do not comply with tho <lpplicablLJ requirements LC)nLLrnin8 IhL, fiirm and ii)ntLbnt ()f arcnunls SL't out in the CharitLeS IAii()unls and Rep()rtsl RL8ulatLiins 2008 (Ithlr than any rcquircmLnt that the accounts give a 'true and fair ViLW whilh is ni?1 a mullL'r Ll)nsidL'red os parl of an independent examination. I have no ionierns and have LOML aiross no other matters in ionneclion with the examination to whLLh altLinti()n sh()uld be drawn in this report in order to L'nable a pr(?per undLJrstandin8 of the financiiil slalemenls lo be reached. Gre8 Stevenson Kn()x Cropper LLP 6* Lc&idenhall SlrLJet LA?ndon EC3A 2AD DatL'... IS JIo/2oL P&ye | 5
The H C Beer Charitable Trust
Statement of Financial Activities for the year ended 31 December 2024
| Note Income from: Investments 3 Transfers to income Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Movement in value of investment properties 9 Realised gains / (losses) on investments 10 Unrealised gains / (losses) on investments 10 Net Income/(expenditure) and net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds Expendable Endowment Funds Total Funds 2024 Unrestricted Funds Expendable Endowment Funds Total Funds 2023 £ £ £ £ £ £ 57,770 - 57,770 55,408 - 55,408 11,364 (11,364) - 13,284 (13,284) - |
|---|---|
| 69,134 (11,364) 57,770 68,692 (13,284) 55,408 |
|
| - 10,533 10,533 - 9,939 9,939 65,864 - 65,864 44,284 - 44,284 |
|
| 65,864 10,533 76,397 44,284 9,939 54,223 |
|
| - - - - (11,500) (11,500) - 4,357 4,357 - (1,491) (1,491) - 64,752 64,752 - 72,237 72,237 |
|
| 69,109 69,109 - 59,246 59,246 |
|
| 3,270 47,212 50,482 24,408 36,023 60,431 60,026 1,557,062 1,617,088 35,618 1,521,039 1,556,657 63,296 1,604,274 1,667,570 60,026 1,557,062 1,617,088 |
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The H C Beer Charitable Trust
Balance Sheet as at 31 December 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Investment Property | 9 | 165,000 | 165,000 |
| Investments | 10 | 1,476,410 | 1,433,888 |
| 1,641,410 | 1,598,888 | ||
| Current assets | |||
| Cash at bank and in hand | 11 | 48,908 | 24,785 |
| 48,908 | 24,785 | ||
| Creditors: Amounts falling due within one | |||
| year | 12 | (22,748) | (6,585) |
| Net current assets | 26,160 | 18,200 | |
| Net assets | 1,667,570 | 1,617,088 | |
| The funds of the charity: | |||
| Expendable Endowment funds | 1,604,274 | 1,557,062 | |
| Unrestricted funds | 63,296 | 60,026 | |
| Reconciliation of funds | 13 | 1,667,570 | 1,617,088 |
Approved by the Trustees on .15 October 2025 and signed on their behalf by:
Mr M Duncan Trustee
Date. 15 October 2025
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The H C Beer Charitable Trust
Notes to the Financial Statements for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) (second edition) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The financial statements have been prepared to give a ‘true and fair’ view and 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 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The H C Beer Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
In the prior year, the accounts were prepared on a receipts and payments basis.
Going concern
The trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern. The review of the financial position, reserves levels and future plans gives trustees confidence the charity remains a going concern for the foreseeable future.
Charitable funds
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
Expendable Endowment
Endowment funds comprise of the initial donation made upon establishment of the Trust. The fund is an expendable endowment and so the Trustees have the power to convert all or part of the fund into income which can be spent in accordance with the charitable objectives. Income generated from the endowment fund investments is spent on furthering the Charity’s objectives.
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The H C Beer Charitable Trust
Notes to the Financial Statements for the year ended 31 December 2024
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Investment income is recognised on a receivable basis.
Grants Payable
Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specific service or output.
Grants payable without performance conditions are only recognised in the financial statements when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Resources expended
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance costs include costs of the preparation and examination of the statutory financial statements, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Investments
Fixed asset investments which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Fixed asset investments which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
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 the financial activities in the period 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 based on the market value at the year end.
Cash held for investments purposes is included within investments.
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The H C Beer Charitable Trust
Notes to the Financial Statements for the year ended 31 December 2024
Investment properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the Statement of Financial Activities. Depreciation is not provided in respect of investment properties.
Financial instruments
Basic financial instruments, which include debtors, creditors, equity investments 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.
The trust only has basic financial instruments.
Cash and cash equivalents
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit and similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.
2 Judgments
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Fair value of Investment Properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the Statement of Financial Activities. The Trustees assess the fair value of the investment properties based on recent market values. In determining the fair value on this basis, the valuation remains sensitive to fluctuations in the property market.
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The H C Beer Charitable Trust
Notes to the Financial Statements for the year ended 31 December 2024
| 3 Investment income Deposit interest Income from investments Income from commercial property 4 Expenditure on raising funds Investment management fees 5 Charitable activities Governance costs Independent examiner’s fees Administration fees Trustee expenses Charitable activities Charitable donations (note 7) 6 Charitable donations by category Advancement of health or saving of lives Prevention or relief of poverty Education and training Disability Religious activities |
2024 £ 1,919 45,600 10,251 57,770 |
2023 £ 366 45,642 9,400 55,408 |
|
|---|---|---|---|
| 2024 £ 10,533 |
2023 £ 9,939 |
||
| 2024 £ 1,764 9,600 - |
2023 £ 1,704 11,580 - 13,284 31,000 44,284 2024 £ 34,500 2,500 11,500 2,000 4,000 54,500 |
||
| 11,364 54,500 65,864 |
|||
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The H C Beer Charitable Trust
Notes to the Financial Statements for the year ended 31 December 2024
| 7 Charitable Donations Asthma Relief Become Breakthrough Breast Cancer Carer Sitter Service Chance UK Epilepsy Research UK Essex & Herts Air Ambulance Guts UK Heart UK Institute for Cancer Vaccines and Immunotherapy Juvenile Diabetes Research Foundation Kids N'Action Medicinema Noah's Ark - The Children's Hospice Princess Alice Hospice RNIB Action for ME HVA Lyme UK Open Doors Wiltshire Air Ambulance Matrix Trust Alzheimer’s Society St Thomas of Canterbury Governor’s Fund Stamford SHEP St Mary’s and St Augustine’s RC Church Stamford St Augustine’s School Total |
2024 £ 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 1,500 1,500 1,500 1,500 1,500 2,500 2,500 2,500 2,500 2,500 2,500 54,500 |
|---|---|
8 Trustees' remuneration and expenses
No trustee received remuneration during the period. No trustee received expenses in the period (2023 – no trustees received expenses).
There were no employees during the period.
| 9 Investment Property Value at 1st January 2024 Additions Diminution in Value Value at 31st December 2024 Share in the Chauntry Haverhill Share in 57/61 High Street, Rayleigh |
2024 £ 2023 £ 165,000 175,000 - 1,500 - (11,500) |
|---|---|
| 165,000 165,000 |
|
| 15,000 15,000 150,000 150,000 165,000 165,000 |
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The H C Beer Charitable Trust
Notes to the Financial Statements for the year ended 31 December 2024
| 10 Investments held as fixed assets Market value Brought forward Additions Disposals Profit/loss on disposal Revaluation Carried Forward Cash available to invest As at 31 December 2024 |
2024 £ 1,429,762 5,711 (101,342) 4,357 64,752 |
Listed Investments 2023 £ 1,334,289 78,923 (54,196) (1,491) 72,237 |
|---|---|---|
| 1,403,240 73,170 |
1,429,762 4,126 1,433,888 |
|
| 1,476,410 |
Material Investments
At 31 December 2024, one holding had a value greater than 5% of the quoted securities portfolio value, as follows:
JP Morgan American Investment Trust 98,875
Investment assets can be further analysed as follows:
| Listed investments Cash deposits |
UK £ Overseas £ Total £ Total 2023 £ 952,750 450,490 1,403,240 1,429,762 73,170 - 73,170 4,126 1,025,920 450,490 1,476,410 1,433,888 |
|---|---|
11 Analysis of cash and cash equivalents
| Analysis of cash and cash equivalents | |
|---|---|
| 2024 2023 |
|
| £ £ |
|
| Cash available to invest (Note 10) | 73,170 4,126 |
| Cash at bank and in hand | 48,908 24,785 |
| 122,078 28,911 |
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The H C Beer Charitable Trust
Notes to the Financial Statements for the year ended 31 December 2024
12 Creditors: Amounts falling due within one year
| Accruals 13 Analysis of funds 2024 Investment Properties Investments Current assets Accruals Assets 2023 Investment Properties Investments Current assets Accruals Assets |
Unrestricted Funds £ - 34,476 48,908 (20,088) |
2024 2023 £ £ 22,748 6,585 Expendable Endowment Funds Total Funds 2024 £ £ 165,000 165,000 1,441,934 1,476,410 - 48,908 (2,660) (22,748) |
|---|---|---|
| 63,296 | 1,604,274 1,667,570 |
|
| Unrestricted Funds £ - 39,345 24,785 (4,104) |
Expendable Endowment Funds Total Funds 2023 £ £ 165,000 165,000 1,394,543 1,433,888 - 24,785 (2,481) (6,585) 1,557,062 1,617,088 |
|
| 60,026 |
14 Related parties
During the period Druces LLP provided administration services to the H C Beer Charitable Trust amounting to £9,600 (2023 - £11,580). Trustees Mr M Duncan and Mr P Campbell are also partners of Druces LLP. Mr P A Caruana is employed by Druces LLP.
These services are not related to Mr M Duncan, Mr P Campbell and Mr P A Caruana’s trusteeship and therefore are not deemed to be Trustees’ remuneration. At the balance sheet date the amount due to Druces LLP was £6,120 (2023 - £2,400).
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