Financial Statements Road Haulage Association Benevolent Fund for the year ended 31 December 2024 Road Haulago Assoclatlon Benevolent Fund Contents Pago Reference and Admlni5tTalive Details of the Charity? its Trustees and Advisers Trustee8' Report Independent Examiner's Report Slatement of Flnanclal Actlvltlos Balance Shoet Notes to the Flnanclal Statements 10-18 Road Haulage Assoclatlon Benevolenl Fund Refcrence and Administrative Details of the Charity, its Trustees and Aavisers for the year ended 31 December 2024 Trustees Mr James Antlii?ns, French (C.liqtrniAn) Mr Andreiv Ivilliiim Robert NL linson-jenkins (Vice CliiirmAn) li. Andreii, P14 trick Keith Boylc Mi Andrcw fvlacrde Mrs Carol L£sJeJ' O'Brien Mr Neil lrpe IVI)()d Pclcrhnrnugl) PE3 6S L•gal Status llic C'liarity, Ivas cnnstituied undei. l* trust dced direcl 28 Julie 21KII) Aq aiiiendcd by thc fiLSt And second Trcd of An￿1)dIn¢ni, diltcd 13 Octobcr 2011 lind 21 SeptL'mbcr 2022. Chalrman Ir James Ai)thony Frcncl) Independent Exomlner C3rnnt Thr>rnton (ND I.LP 12- 15 Donc￿ s9￿1re West Belfasl Yri (3JH Road Haulage Association Benevolent Fund Trustees, rep()rt for the year ended 31 December 2024 The Truscees present their annual retM)n fORether with the hnancial sr21emenrs of the ChArin. tor che l'ear i)l- Ihe ?1)24 to 311)ecembe.r 21124. charit!. l Januan. _ Thr fiD￿claI statcments hai'e bcen prepared in #ccord2ncc with thc Accuuntinx wlicies set uut in x.ote I tu thesc fin4in.1cial statemcnts and compl!" with thc f.hariti-% Trust Dccd. the currcnt ytatutc)n" ￿qUiremen[S. thc rc4wrcmcntE ()f thc chm'ry"'5 gry)i-crTung d()cumcnt and thc pr()Visic>nE ()f thc .Staicmcnt c)t- Rcci>mmcndcd Pracricc (S( )RP) "Accoununx and Reportin8 bi- Charitie%" cltective 1 Januan. ?(11 l). Objeciives and activities P•lici•g and objectiv The RcYAd Ilaula%e .45s0ciarion Benei"ulenr Fund is rewstered uirh the Charin. r￿mMISsIOn (RegistraTii)n XumbeT 11111?li21)) and has been cijn.siiiuied as an unincciqy)rAred &4S(>Cigtivn ￿,hich is kw%'ern¢d bi, Ihe Tru81 l)eed daT¢d ?¥ June 2(KK) as amended bi the 'De¢d of .Imendm¢nt' dated 13 (.ktober ?01 l and 21 Sepiemb¢r 2022. "lThc I'und was CSt3blishcd ru pnjirydc rdicf frum puN'crry'. ￿"<)[k￿g tu hdp thc)s¢ pcuplc io hards'hip 4.hu arc. ur hai"c bc¢n. cnnncctcd urirh ihc .'Is%ociafian. Thc fund aaii-cli" tUndr￿￿c5 tmm mcmbcrs ()t thc RFI..l 2nd .scck5 t Clnfinue lis ch2nrAble ￿Ork. rhrcNukih The cAreful ste￿.ardsh7P ot its ex15T1￿? resouTce& 'eii' trustees are briefed ¢)n their Iwl vbli.4Vltivns under charin, 2nd ccFrp()rnte lau.. the conient uf the t)eclirition uf Trusu the trustee decisiun makin¥ prucesses 2nd recent tin2nctJl perlumthnie uf The I'uniL Tru51¢es are encc)uragTcd icTr #ittcnd apprc)priatc C￿tcrn￿l traininkF cycnts whcrc the%c ￿111 tacilitatc thc undcrtak-in&v ()t thcir r()le. In scningv i)bjcctii-.cs planningi t<)r acrii"iucs. thc TfLLStccs havc giiNen duc cnnsidcrau()n tc) gTrencrai gwidancc publi5he(I hi" rhe Ch•riti". Commi5ston re111 tc) public b¢rtefir, including rhe guKlance 'Public bcnehr: rnnning a clIArit!' (l)B2)'. Strat•gl•s lor achl•vlfvg obJ•etlv•s The Trusiees nf rhe tund hai'e 1greed rhree main srraTcgTes r() achieve rlie Fund5 nbjecrii'e$: l. T(> gro￿, the 2W2reness of the fund with the menibers 2nd st2ft i)f the RH.1. This ro be me'asured b!" the inLfc:1se in claims And hence dvnJuc)ns to support membrrs. eniplol'ees ur fomier cmploi'LLS in tinancial 'riTr cypind th¢ mcth(xl4 5up￿r[ Inr individuaLs thmugh nthcr initiatiNc5 raihcr th.In purdi. rcliing nn r¢ctii'in&Tr claim$ trom pcrwns in need. -1. Tn eip.lnil rhe %uptmrr trnm rhe Fund ro orhers invoh.ed or cnnnecred rn the RDAd Trnn5Pnrt Indugrry,. whn rc n a.8sist iii tlie i)r()vision i)f rcli¢f fri)m p()IlL'rty* iir{)rkiiibv ti) hclp th()4¢ pe(>ple ill liardsliip ivlir) Élrc, or havc bccn, Ll)niicctcd ivit17 thc ilssociatioTh. Tliis include$ mcinbcrs and foi'nici. Incml)er8 of tlie Roid l-lliulagve A5$0Cilltion l.imited <"the RFIA.). tlieir emplo)iees And forinei. L'iiiployces, 115 iiiell 11 S tlieir dependeiJi4. It li18() c()vcr8 emplu}'¢L'S aiid fc>niiLr cmpl()yCG8 of thc RFIA. Tli¢ fund IiAvc olso i&pruLd, in certiqill cirLuinslanccs, to support tliosc involvcLI in thc Roqd Trinsport Indii8try, who arc not incmlxi's Of tlic Ro4d l-lnulaxe Assotifition biit rtre suffering h1rdship. fic tl'l15tcci cr)nfirm that tlic), liavc refcrrcd to tlic Chnrity Commission's Guid2ncc on Pliblic Bcnefit ivlicn revieivinK Tlie Fund's Ainis and objectives. in plinninx fiiture iictivities ind in niainttiininK the existink Fund. Achi¢vement8 and pcrformance Maln aehlevemonts of tho Charlty In 2024 tlie niimbei. of clAin15 Sctded to siipport individuals froin tlie Roid Trtiospoit Sector suffering fiyiiii fjiii?llci&11 hardsliip incregscd by (AY/o on the prthrji)us )rc*r. Tlie monettiy mount given to these individuals also incTeAsed bj 156.51/11 on tlie pyevious yeAr. Similirly donfition5 rcccivcd From RHIK rncmbcr5 in 2024 incr¢Ascd l)). 4.V/fv lind thc wiount OF intClf5t eirncd on tlie Fund's 2ssers increthsed b), 71. I r/* 11. Priljo J Road Haulage Associatlon Benevolent Fund Trustees, report (continued) for the year ended 31 December 2024 FiiiancAal review . Golng concern Aftei. niakinby 9ppropriiqre eiiLiiiirics, the Tiiistees hllve a rei1%0nahle e%pect1tion th¥lt the Clii?rit)' h1S ¢ideLiua¢e Ics1)urcc% ii) ccjiiiiiiiic in ()pcr11 tic)nal rxistcnce fi)r the f()reseciblc fu￿re. r()r this rci1SOtI, thtry ci)iiunuc ti> ad()pt tlitt going conccrn b2518 in pi'CPl¢ riiig tl)c finl1 nci11 st14 tcmcnts. fiirihcr Ilclqi15 rcuifir(ling tl)c idoi)tion of thc gninE Concert] biisis cAn be foiind in the llccoiinting rK)kncie$. b. Rese¥ves pollcy As at 31 Dcccrnbcr 2(124 iini'cstrictc(I rcscrvc5 Ivcrc £829,128 (202.3: £888,C?16). The trListCC8 im tn maintiin free resoiii'Les iii unrestricted funds li r i leiiel ivhich equates to approximq¢cly ttvelvc nionil)s of iinrestriLted c1111gci¢ ble eX￿n(￿￿7rc. 'fiic truyt¢C8 ci)nsidcr thit thi¥ levLI ivill pri)vidc ¥ufficiLnt fuiids t() rcspi)I)d t() ai)plicatic)i)% fi>r poivecry i'clicf. Thc triistccs cansidcr ¢hit a pcriod of Nvclvc months is sufficient to proviclc flc¥ibilit)' tOWArds niawmui ineoine %eneiMtion from rhe unr&stricted fund to mcer il)¢ Fund's chAriiible objectives. During 2025, tlic triistccs ivill iin(IcriAkc a reviciv f)f thcir invcsimcnt styatcgy 41nd consider tl)osc loiv-rislc optioiiy to iiiyest tliis b11fince movinR fonviqrd, Tli¢ aim will be to kyen¢i'Rte a sustniiied incL)nie stir&m (o enii ble tlie Fuiicl to Ictivcly minage lind further its cliTrritgble ()bjccUvv.s ivitliin its ri4k ippctite. C• Flnanclal review The Fund's ivork iy iclinni un donitlon inconie rnisea by members of the R(Md l.IAu11gve Associ1tion J.iniited. Diirin¥ tlie yenr ended 31 r)eccmbcr 21124 tt)til It￿Me wi8 £122.431 (2112.3: £1011.285) Ivliicli iva4 a 22'YL¥ iiicrea%e vet. tlic prioi. )pear. DiscrcUc)Ilq4 ry chi11'itAI)le Pi2)•ments uf £147.540 (2112.3: 1'.57.S)7) ivere made duiinx the )reJi, giiiing n 1571/1 o jiicren.%¢ on thc l)rior ycai.. è¥141lliqgcnicnt qnd administrAuon cxpendiiurL' incrc'iscd to £34,.379 P023: £1 S,456). At 31 Dv.r.einl)ei- 21124 Tlie Fund liad a net deficit fvr the )ie2r L59,488 (2023: gryin i)f £27.322) ivhich ivgs 4ddecl to tlic Qscncral Iluncl. Strtictiiie) govetnance and management a. Constitutlon Roild Hiulib?c Assnciatton Bcncvolent funcl is rcgistcrcd ivith the Cli%rit> Commi55ion (Rcgisrrnlion Niiinbcr 1082820), and has been constitiited is an iinincorpnrafed i54OCiatiDii ivhich is governed by tlie I rust Deed dtqted 28 Jiii)e 21)111) as E￿]ende£l by tlic first and %ec()nd 'Dccd i)f Amendment, dared 1.3 October 2011 niid 2'15epiciiibrt 2022. b. Method5 of appolntment or election of Trustees Nthv tlllbtce% 'wc biiefc.d on their l¢gd c)blixations under chnrity. Ancl c¢>tPLbrrtte laiv, the ci)ntcnt lif tlic Ikcl&ratic)n of Twst, the tnistcc decision tmking prnccsses 1nd tcccnt financial pcrforml4 ncc of Tl)c Fund. Triistecs irc encourqged to Lltteiid ITrppropriate e%t¢rnal traininky events ivliere these will f¢1cilÉtat¢ the undertkkiiimv of tl)eir role. Road Haulage As50clatlon Benevolent Fund Trustees, report (conunued) for the year ended 31 December 2024 Structural goverrtance and management (eontlhued) . Members of the managgmant tommlttee The meimbers of tlie rnAnwenient comrniitee who se￿e(l ils trustees during tht period were is Folloivs: Mi'jatmcs Anthon), r'rencl) (Cliairmiin) fvlr Andreiv Ivilliani Robertjcnkins Ivice ChAirniii n) tr Andrciv l)¢ltrick Kcith B()yle ly ilndrciv N,licnc Irs Cai'ol Ixslej, O'Brien Ncil Kcll}' Miss lthlura Bl&Rr ly Diivi(I SLoti Ni Lcl nljpre Mr Michicl Wiuiin) Gnugli MY ljiqmiftn Pnivell MY Cliris Slatei Trusices ai'c appoiiitcd b}1 thc BDat(l of Dircctois of tlic Road Haulagc Association limited. Independent Examlnorfs r•port Ag 11 Le￿Stered chjrit),, Ihe FiirMI rvqiiire.8 an independent cximin21ion ()n tlie ￿()UndS that ir) %r(>%% inc()rnc f()r tli Jicftr is grcllter thAn £25.0(M). Road Haulage A550clatlon Benevolent Fund Trustees, repott (continued) for the year ended 31 December 2024 Statement of Trustees. responsibllitles Thc frustccs arc rcspon5ible for prcpAring thc TrustCCs' rcport ind thc financiol statcrncnts in accordli ncc ivith ppticible IRIV Ind United KinRdom Accountin% Smndirds (United liinRdom GenenUJ' Accepted AccoiintinL' PrRcuce Tlic Iiiv 4pplicnblc tn charittcs in Rngland & Wilcs rcquircs thc Trustccs to prcparc financial st14 tcments for each financi11)ieir of tlie chil riryi which xive a true ind fair vithv of the state of Affairs of rhe ChRritJ' of its incumin rL'suiiice.x ind Trpplicati¢)i) of re%i)urces, inclucting it.% IJJc()mc and cxpcn(lI￿it, f()r t1141t pciit)Ll. lii prcpii King tlics financiil staternents. tl)¢ Ttustccs arc rcqiiircd to: sclcct siiitablc iccounting policics #nd tlicn appl)p t1￿M cnnsisrcntly: ob%erve thc nicthods and principlcs r¥[ the Ch1rities SORI) (I.-R5 102); m4qkc judgfftciits accoLinting ctstsmatLS that rLl$1)nal)Ic' Ind prudcnl. stalc Nvlicthci applickblc UK Accounting SMnd1rds (fRS i{)2) havc bccn folloivcd, subject to onjp matcriA] dcpi?rtuics disc105cd and c.%plaincd An tlic financi?15tqtcmcnt5' prcpat'c tlic finilncilll stitcments on thc going conccrn bisis unlcss it 16 tnappropriatc ro prcsumc thfit tlic Ll)8fit)t ivill coiitinuc in l)118iness, Tlie Trustees sire responsible for keepinki 41de4U2te #ccountinx records tliat arc sufficicnt tv slioiit lind explnin tl)e Chirity'% tLllll8aCtii)n% 4lnd discl(isc ivitli rea41)nable Accurftcy it aiiy uine the fininciryl pr)sitii)n i)f thc C.liftrit)' ftnd enable thcni to cnsut'e thgt tlie fin14 iicigl statements comply ivith tlic C.1111ritics Act 21111, tlic Lhllrity, (Ilccoiints and Reports) Rcgu11i tions 2008 14 nd thc provisions ol tli¢ Trust deed. Tl)e)' are also rLsponsible for saFesTruaA'diiig tlie a85et4 1)f tlic Ch41riry ￿K4 licnce for taking reA8onAble ¥ieps f<)r the preventiun nnd detecti¢)n of frllud nnd ()tlier irregiilftritics. Approved by order the members rhe boArd And %igncd ()n their beh￿f bs". Trustees on Mr James ¢hony Ftench (Chairman) (Chftii. of TrLlStees Date.. 21) ( )ct()b¢r 21125 Road Haulage Association Benevolent Fund Q GrantThornton Indcpcndcnt Eiamincr's Report for the year ended 31 December 2024 Indep•ndent Examln•rfs R•port to th• TnMtw• of Road Haula9• Auo¢latlon B•n•vol•nt Fund I'the Charlty.) fe rq￿rt t() the chaTitt' Truxteey on ()ur examinatiun uf the accuunts i)f the Charitt. for the I'car cnded .31 Dcctmbcr ?ji?4. Responslbllltles and Basls ol Report .48 the Trustees uf the fhiritt, IYJU Jre respont the 2UI I ACT. Ind•pond•nt Examln•e• Stat•mont ¢ hai'e compl¢ied uur ¢xamin.1tion. il.'e confimi thai no matiers hav¢ come t(b our aiienuon in conneciion with tIIc LxAmin1tivn kpii in¥ us ￿uSt to beltei'e that in an!. rnater1￿ rdspecr. accuuntingF records utre nut kept in respect of the Ch2rits' as required bi. sectiun 130 uf the 201 l Act: or thc acc()unts do not accord Mith thosc record5- OT thc accc)unts d() nor CC)mpl!' ￿7th the 4yh"cable requircmcnts cnnccrning thc tnrm and cc)nicnt ()t acc<>un15 scr our in the Chintte5 (Accounts and Re￿)r[s) Regulation5 ?(IiJ8 orher Ihan an!, requjremeni thar the acci)unis %ii'e a 'tn* and tair, iiew M'hich 14 nn( a matter considered *$ part nt" an independeni exAniin¢irinn. Ye hai"e no concerns 2nd ha￿e cnme 3cr()ss no other m2tters in u)nnLctinn with the examin?tiDn to ￿1]iCh attenti()n should be In this rew)rt in ordrr to enable 2 pttjper undcrstandin&¥ of the accounts l<"1 be reached. D31e(L. 29 Ocrober 2025 Grant Thornton Advlsq>rn (Nl) LLP (-IiarrcrLd ..IcciTruntants. rncmbcr hmi i)t C.'Iiarrcred Accnunianrs IreknKI l ? 1.1 DnncgAII Squilre lx'esr Ilelti?sr Tl l)JH P￿1 Road Haulage Assoclatlon Benevolent Fund Statement of fManc1￿ activities for the year ended 31 December 2024 Unrestricted funds 2U24 Total fund8 2024 Totnl func4.8 2013 Note Income from: C'hit'itablc ctivitics 121431 122,431 IOQ,28.5 Total Income 124431 122,431 100,285 Expendlture on: Clifiritable activities Othci cNpcndittir 147,540 34J79 147,540 34,379 57,507 15,45() Total expondlture 181,919 181.919 72,963 Net movÈment In funds before other Yecognlsad galnslrat¢d as%<)ci',iiii)n u'liicli is w bi'¢m¢d bi. Illi Trust Deed dated 28 J line ?(MJ(I Is iunended b!. the 'Deed uf Jkn)indmeni' datc.d 13 C)Cli)ber ?Vl l. Accounting poll¢l•• 2.1 BasAS of prcparauon of financial statements Thc tinancial statcmcnts hai"c bccn prcparrd in acc()rdance ￿1th thc C.h*rities SQRP IFRS 10?) ..IcCc)uno￿1 and RcTr)ning bi. ('harinc_s: Statcmcnt f)t- Rcci)mrncndcd Practjcc applicablc li¥ cliariucs prep8n0￿1 rheir iCCiJunts In acci>rdqnce rhe finifj noal RetY)rrinyi St1ndard fjqppIicJ* blc In the I',Ik nd R¢public i)f Ir¢lqncl {FR% 111?) (¢fieciii'e l Jan￿1n. ?Ill<)). lh¢ Pin.Inci.il R¢w)ninb' 5IAndard 21)pIicgblL in the L'.k 2nd Republic ot Ir¢lartd O-.R5 1 V?) 2nd th¢ Ch2riti¢s Jlct 2UI I. Road H1U14￿ .4$s(￿l.￿tt(ln Bend"()lent Fund rneets the definition ut a public benefit entin, iincler FRS i ()? .4sSCÈS 2nd b'3biEiucs 3r¢ irlltdli. r¢cugryyscd at Tru'sturical cu81 ur transacrion i'aluc unlc%s 1)th¢ni"isc 5Litcd in thc rclctranr iTr¢Cf)untin& p()lio". The R(Jgd Fl:iulage .455cKiaiicin Bene%"i)leni l.und hAS taken adsTrnfAge of the exemption io prepare hllL>W StAtL'nient ()n the lYAsis thai it is a small chariti.. Paoe 10 Road Haulage Assoclatlon Benevolent Fund Notes to the fmancial statements for the year ended 31 December 2024 Accountln9 pollcl•s (contlnued 2.2 lttcome AU income is recogTrnised once the charity has entitlement tc> dle income, it is prob%ble tliAt tlie incoine vill be recL'ived ind the am()iint i)E incunic rcceivable can be measured reli14 bl),. or Iwcies. entitlenient is rak.en as the exrlier of the dllte on ivhich either. tlie cl)1rity is 1IV11t tliit PLI)b%Lte IIAS been grnntcd. tlic c8t•te liAs been fli￿ll￿d and nc)uIIcau(In h<2S b¢¢n madc l)}, thc CXCCLltor(s) tn thc Tiiist th•lt i distribution ivill bc mlidc, or ivhcn a d?stiibLition is rcccivLd from tlic estate. Receipt of li lektyc),. in ii.hole or in PAYt. is only considered pro￿l)Ie Milien the aiiiniii)t C1n be Ill¢iqxurcil rc￿.￿b]5' 41nd tlie cliqrit), Iiiis bcen iif)tificd f)f thc exccutor'.% inteiiu()n t() a distribLlts()n. Vhcrc Icgi4 cics hfivc bccn notifi¢d to thc chil rity, or tlic charity is aivarc of rl)c grAnliTJg of pynbli tc, And the criteri? for income recokvnition liave not been met, then tlie Iwc). is titThted continkyent asset aiid clisclused if inaterial. DonAred services or F*ciliries Are recokmised ivhen tlie chl4 rity ￿S control over tlie item, Iny conditions assi)Cji11ed iviili the dunatcd itciii liAve b¢¢n mcl, tli¢ rcccipt UE ccoiiomic bLnL.fit fL<)In thL u%e ()f thL clii1rity nf thc itcm is proh41blc llnd thnt economic bcnefit can bc nicasiirecl rcliibl),. Iii Accnwllance ivith rl)e Chilrities SORP (FRS 102), tl)e K?eiieral iiolunteer tiiiie of the Friends is not i-ecoxnised iiid rcfet to tl)e Triistec8 I'cpurt fi)i' mc)Ic inf()rm2tsun ib()iit thcir ci>nu'ibuts(In. On receipt, don11 ted professional services #nd donated fi1cih'tie5 are recokmised on tlie basis of the valiic ()f Ilie gift t() tlic clittriry ivliich is th¢ 1n)()unt tlic charity, Ivi)uld liAvc been iiiilling (() Pli )' tu i)btAin services oi. flciliucs OF cquii',Ilcnr cconoinic l)Lnefit on tlic opcn Inarkci. n colrcspDnding moiint is t11cn recoKryused ii) eipenclitiii-e iii Ilie i)cri()d of reccjPt. 2.3 Expenditure F.xpcnditiirc is rccogniscd r)ncc thcrc is a legal or con8trnctivc obligRuon to tran5f¢r cconomic bcncfit to a tliiid part),, it is piobnble fliiit a transfer of economic benefiis ivill be requii'ed in settlenieilt and tlic atntsunr ()F thc ubiigAU()ii cnn be meAsui'ed reliibl),. Eixpenditure is clAs%ified b). 2ctsvits,. I"he cc)s1's ()f cnch Ctivit), are mftdc lip of thc totsil of diycct Costs ind shiTcd co%ts, incliiding supp()rt cosls ini'olved in unde1.￿kin% ch acriviij,. Dirvcr custs nttribiitAble to il Stngle li clivit), Al'e Allocated directly to thit ctivir),. Slioi red c<)%t5 Ivliich Cf)Iltribute tc) m()re than nne ictiVit)* And siipp()rt c()st8 ivhicli nre nc>t fttti-il)ti141blc to A 5ingl¢ qctivits. qrc it pportioncd bctsvccn thosc Ictillitics on n b2sis CQDSi51cnt ivitli the use of rcsoiii'ces. Central staff costs xrc allucAied on the basis OF time spent. and dei)reciition ¢hqi'Kves ll()c8ted uii tlie pcirri()n lif th¢ iiSSCt's usc. F.xpcn(Jitiire oli cliaritablc acuvities is incurred on dlrcctly undcrtiking tlic fictiiiitics ivliicli fiii'tliei. Ilic Chqrityi's objective8, as Ivell as iny Associated support cosls. Giantb payllble are tl)ll¥ed in tlie )pear Trvhcn thc c)ffcr 18 mstdc cxccpt in thvsc c)¥Ls Nvlier¢ tlic c)Fler ig concliuonal. such L￿antS bcing tccogniscd as cipcnditur¢ Nvhcn tlie concliuons attacliing fire FiilfilleLI. Giants offered subject to conditions ivliiLI) lixve nut been iiiet at the y¢1r end iire iioted coinmitii)cni, but n(>t iccnicd n5 cxpcndittirc. All cxpcftclitiirc j5 inclusivc al irrccovcrablc VAT. Pilllp 11 Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements for the year ended 31 December 2024 Accountlng pollcles (contlttued) 2.4 Debtors Sliort tern) debtors ire measured at innsiction prlce, less impAirment. IAMns i'eceiipable ￿re nica%uicd iniuall}p at fair vqluc, net of tlilnkicui)n ci)sts, and Are mcAsured subscquend)i at Am()rusL.d ci)st Using tlic cffcLiivL intLrLSt Iiictliod. Ic55 An). iIIIPl4 itmcnt. 2.5 Cash at bank and In hand CA.8h fit Innk xnd in hatid includcs cash shi)rt-terni hixhly liqiiid invesitnents iviil) a sli()rt niatiiiity OF thrcc inontlis or Icss from tlic dAlc of 2¢quisiti()n oi. opcning of the dcposit 01. 5imilai' account. 2.6 Llabllltles and provi8ion8 LiAbiliue% are rec(¥niS￿ ivl)en there 18 an ()bligati()n At the Balance shttt date AS a xesult ul a i)ASi event, it 15 pi'obiiblc tliat 2 ti'Ansfcr of cconomic bcn¢fit ivill bc Tcquir¢xl in scttlcmcn( and the Amoiint of thc settlement CAn be estimiited reliibly. LIAbi￿.UeI1 ore rec()gyni¥ed At tlic aiiii)unt thAt the Cliarir). AnticipatC4 it will piy tu %L'tt]c di¢ debt ()r tlie 2inount it has rcccivcd 1s allvancccl pa)Imcnts for thc go(x4s or scrviccs it niust proiij(Ic. Proipi%iDnq Are Ine1siired it the besr esrimite OF the 4inoiinrq re4iiired to settle tlie oblixntinn, Ivliei'e tl)e ¢IEcct (jf thL iinie valuc i)f m()ne)' is Il)II ieii:il, tlic pi'i)Visii)n is bn%cd on tliL pic%ctJt ITaluc ()f tli()ye InoLints. di%cr)untcd it tlic pre-tfix discount Y1t¢ tl)at rcflccil th¢ ri8ks .8pccific to tlic liAI)ilit),, The univindlng OF the ￿'SCotiftt is recoKTrnised in the SNtement OF finAiiciAI .Ac¢iviries a% A fmAnce cost. Road Haulage As50clatlon Benevolent Fund Notes to the financial statements for thè yearended 31 Docember 2024 Accountlng pollcles {contlnuedl 2.7 Financial inslniment3 Tlie ClIArity onlj. 1111 s Financial issets lind fin14 ncial liabilities of ll kind th4t Liualifj, Insic fiii:Inciic I insiwmcnLS. B14 8ic financiil instruments are initi￿)￿ rec<)xni%ed ?t ttraiJsacu<)n valuc iK nd 8ubsequentl>' mci15urcd at thcir scttlcmcnt iriluL iviih thc LXCCPtion of &inL loans ivliich iic subscqucntl), nica8ULccI at Inoi-tised cost iisinK tlic eFfectli'e intefest method. Dcbt insti'umcnt5 (othci tli%Ln tl)OSL wlif)11)' rcpa).. blc or rcccivablc ivithin onc }Icai'). including Ioii ns iii(I orliei. 11 CLounts receivible qnd pi),4 ble, re tnitiallji me1{ siired ar present valiie of the Fiittire cAsl) floivs 1nd 4ubsequcndy lli wiii)fU%ed ct)5¢ 115ing' tli¢ cffeciii'e intcie%t mcd)i)d. Dcbi insts￿rncl1t4 tli1¢ t 1llL p#)piblc or I'cccivablc ivithiTi onc J'c4r, typicqII}' trndc dcbtor5 and crcditnrs, Air mcasiircd, initsiilljy SLibse¢iueiitly, at tlie undiscounted amocint of rlie casli or other coiisidei'iuon expected ro be Pilid or rcceivcd. Fl()IVCVLr. if tliL ￿￿1?1]K￿ll}elltS 1)f a shuit-ierin instrun)cnt cq>n%iitutL & finftncing iian¥action, likc thc Pi?)Inient of A trfidc dcbt dcfcrrcd bcynnd norm?1 busincss tcrn15 01. in casc of ln out-t-iglit 4linrt- terin Ic)4in Iliit 18 not At nillrket nte, the finÈlnCitil 11 sset Dr lilt biLi(Ji is In￿Sl)red, initiiilly at the present value ()f future Ci¢ sh fl¢)Iv5 dbscoiinted ftt a nJl1 rkel rAlc c)f intcrcst fc)i 1 5imilir dcbt in5￿uMCnt ncl 3Lib8cqtictitl)' Ht 8mDruscd cost, iinless it qualifics 1$ a loan from a dircctor iti the cnsc OF a 5ni4i11 coinwny, or a public benefit entity conce5sionar)'1041n. nAnciAI that meRsurcd At cost xnd 1moYtiscd co8t vc asscssed At rhe cnd of Cid cl) rcpoi-iiiig pei'ind foi. objective evidence of iinpairinent. IE objective evidence of impxirnieiit Is f￿l￿d, In irnpiiirmcnt l()%s i¥ recugni8cd in thc StAtenient ()f ccimprelicn¥ivc inci)mc. ior fininciiil assets ineisiired a( aiMortY5ed cus¢ the impairniciit Ios5 is measured ¥iS Ille differcncc bcNvvcn 14 n asset s carrjiing amoiint Ilncl die prc5cnt value ()f e%timated cAsli flL)w di8cI)unted nt the ssct'8 Driginrtl cffcctivc intercsi Mtc. If a financiill assctlios n vai'iiblc inierest rnle, the cliscDunt rate For Inmsuring 14 nji iinpii irineiit loss is the currvJ)t effcctive inlerest late deterintncd undei. tlic contract. ror Finftncinl 11 sscts m￿%￿re£l fit cost less impiimicnt. rhc impairmcnt loss is mclsui'ecl as tl)c diffcrcncc beNveen n 1& 5set's ￿rr)lin￿ amount iqnd best estiinale of the rtcoireimble xinoiint. ii,liicli is l< n Ipproxim41Uc)n uf the o1iic)unt thAt thc C.nmpiny wnuld reccive for the a45et if it urere tu bc sold nt the b4lonce sl)cct datc. 2.8 Fund accounting GciieL•I flind% arc urtrestrictcd Flind¥ ivhicl7 irc Al'Ailf¢ble Ei)r usc at thr di8cI'etii)n ()[ the TL'llbteex in fiirtliernnce c>f tliL gcncrql objectiVC5 nf thc Cliarit) and Nvhich hr other benefit5 (2023 - £NIL). During the )'C41r cnded 31 Dcccmbcr 2024. no Trustcc cxpcnscs liiipc bcen incurrc(1 (2023 - £NIL). staff cosls Tl)e Cl)ariry lias n() empl()yees ntlicr than the TniiTrtees. Ivh() did not receive any rvmiinciation (21123 - £NLL). No eiiiployee i'ecelyecl remuneration amountinR to more than I60,￿0 in either )'eAr. Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements for the year ended 31 Decembèr 2024 10. DebtOTS 2024 21123 Due withln one year Prep11 ynJu]ty and accrlied incun)e 20,222 211,185 20,222 20,285 Cr•dltors: Amounts lalllng due wlthln one year 2024 2U2.3 Ami)Lint,s ¢)Ived tu gre>up und¢r141kingx (y7,793 1325 1,250 100,118 15,IF14 Paop If, Road Haulage Assoclatlon Benevolent Fund Notes to the financial statements for the year ended 310ecember 2024 12. Statement of funds Slatement of funds - current yeay Balance at Balance at I January 2024 31 Deccinber 2024 Incorne Expenditti Unre8trlcted funds Generd Funds - All fiinds OtheK Generlll furtcl 868,022 20,594 868,022 (38,894) 121431 (181,919) 888.616 J21431 (181,919) 829,128 Statement ol funds - pvlor year Balance at l J1niiqry' 21123 Balthncc it 31 DecembeL 21)23 Incumc Expenditure Unre8tricled flind8 GcneLiql Funds - all Funds Othcr GcncrAI Fiinds iY)8.n22 {C).728) IICi8,1122 IW285 C72,1)63) 8()1,294 IIX),285 (72.9(1.I) R1411,(11 () 13. Analys•s of net ass•ts between funds Analysls of nèt assets between funds - cuvrent perlod Unrestricted fund8 2024 Total funds 2024 Current issets CLediturs due iylthiii c)nc yur 929,246 (l Ot),I111) 929,246 (IOD,118) Yotal 829,128 829,128 Pa(i¢, I I Road Haulage AssoclatSon Berwolent Fund Notcs to the financial statements for the year ended 31 December 2024 13. Analysls of net assets between funds Icontlnued) Analysis of net assets between funds - prior perlod Unrestricted Totlll fLiiid.8 2023 2023 Ciirrent a¥￿t¥ )03.8()11 (15.184) 903,8(10 (15.184) Citditors diic iviil)in onc )'cAr Total 888.61() 8118.616 14. Capltal COMMitm•nl8 and contlng•nt Ilabllltl•s Tlicre wcrc no capit81 cominitmcnrs or contingent lillbilitics at 31 Dcccmbcr 2024 (2023: NII.). 5. Related party transactlons The Fuiid i'elmburses the s￿AsOr1nR orEartiS1& tion Oioad J-111111ge Associition l.iinited) for the gencrql Idministntic)n of the fund and de4iiing iviili dunnuun requests on a dii), t(p di4 y basis. This Piiyment for tlie JTei* r to 31 Dettmber 2024 iv&s [,34,379 (2023: LI 5,455). P1go I