## **The J and D Hambro Charitable Trust**
## **Financial Statements**
**For the year ended 31 December 2022**
**The J and D Hambro Charitable Trust**
## **Contents**
||**Page**|
|---|---|
|Report of The Trustees|1-3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Balance Sheet Schedules|6|
|Notes to Accounts|7-8|
|Schedule of grants/donations|9|
|Schedules of investments|10|
|Schedules of investment income receivable|11|
**The J and D Hambro Charitable Trust**
## **Report of the Trustees**
The Trustees present their report and accounts for the year ended 31 December 2022.
## **Structure, Governance and Management**
The Charity is established to pay or apply the annual income of the Trust Fund to such Charity or Charities or for such Charitable Purpose or Charitable Purposes as the Trustees shall from time to time in their absolute discretion determine and the Trustees may also in their absolute discretion from time to time pay or apply the capital of the Trust Fund in furtherance of such objects.
The constitution of the Charity is by Deed of Settlement made 26 June 2001. It is a registered Charity Number 1088252 managed by Trustees and its registered address is 45 Pall Mall, St James's, London, SW1Y 5JG.
The Trustees who served throughout the financial year were:
James Daryl Hambro Diana Mary Hambro Bartholomew Guy Peerless
Power of appointing new Trustees is vested in the Settlor, James Daryl Hambro, during his lifetime and thereafter in Diana Mary Hambro, subject thereto in the surviving or continuing Trustees. Any new Trustees will be chosen by the Settlor for the skills and expertise they can bring to the Charity. Training needs will be assessed on an individual basis.
Bankers: SG Kleinwort Hambros One Bank Street Canary Wharf London E14 4SG Accountants: Saffery LLP 71 Queen Victoria Street London EC4V 4BE Investment Advisors: James Hambro & Partners LLP 45 Pall Mall St James's London SW1Y 5JG
Page 1
**The J and D Hambro Charitable Trust**
## **Report of the Trustees**
## **Principal Aims and Objectives**
TheTrustees manage the portfolio of investments to produce a balance of income generation and long term capital appreciation.
The Trustees aim to make distributions for Charitable purposes utilising first current year income and then transferring from expendable endowment if required.
The Trustees have no set predetermined policy for awarding grants. Grants are made on the perceived merits of every application at the Trustees' absolute discretion.
## **Activities and Financial Performance**
The income available for distribution in the year to 31 December 2022 was £4,527. Total donations made amounted to £46,373, which were distributed to those Charitable organisations listed in these accounts.
Additions made to the expendable endowment fund by I Hennig & Co, totalled £25,000.
Total assets of the Charity at 31 December 2022 amounted to £986,752 (2021 £1,106,555), which represents an decrease of 10.83%.
## **Financial Review**
The Charity has no forward commitments and therefore does not deem it necessary to have a formal reserves policy.
## **Risk Management**
The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the risks.
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**The J and D Hambro Charitable Trust**
## **Report of the Trustees**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with the 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 the affairs of the Charity and of the application of resources of the Charity for that period. In preparing these financial statements the Trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable 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 in business.
The Trustees are responsible for keeping proper 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _**
## **Mr James Hambro**
On behalf of the Trustees
Date:
Page 3
**The J and D Hambro Charitable Trust**
## **Statement of Financial Activities For the year ended 31 December 2022**
**----- Start of picture text -----**
2022 2021
Expendable
Page Income Endowment Total Total
£ £ £ £
Income and expenditure
Income and endowments:
Additions to Trust Fund by I Henning & Co 25,000 25,000 25,000
Addition to the Trust Fund from NBKA 175 175
Income from investments 11 4,524 4,524 871
Interest received 3 3
Total income and endowments 4,527 25,175 29,702 25,871
Expenditure on:
Direct charitable activities:
Grants/Donations 9 (46,373) (46,373) (20,150)
Other expenditure:
Accountancy fees (1,806) (1,806) (1,440)
Bank charges (330)
Investment management fees (204) (204) (215)
Total expenditure (46,373) (2,010) (48,383) (22,135)
Net income/(expenditure) (41,846) 23,165 (18,681) 3,736
Transfer between funds 41,846 (41,846)
Net income/(expenditure) and net
movement in funds before gains and
losses on investments (18,681) (18,681) 3,736
Net gains/(losses) on investments
Realised 10 (924) (924)
Unrealised 10 (100,198) (100,198) 102,429
Total investment gains (losses) (101,122) (101,122) 102,429
Net movement in funds (119,803) (119,803) 106,165
Total funds brought forward
at 1 January 2022 1,106,555 1,106,555 1,000,390
Total funds carried forward
at 31 December 2022 5 986,752 986,752 1,106,555
**----- End of picture text -----**
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##
|||||`2022`|`2022`|`2021`|
|---|---|---|---|---|---|---|
||||`Expendable`||||
|||`Income`|`Endowment`|`Total`||`Total`|
||||`£`||`£`|`£`|
||`Page`||||||
|`FixedAssets`|||||||
|`Investments(atmarketvalue)`|`10`||
`949,933`|
`949,933`|
|
`1,060,964`|
|`CurrentAssets`|||||||
|`Cash`|`6`||`40,065`|`40,065`||`48,471`|
|`Creditor`|`6`||`(3,246)`|`(3,246)`||`(2,880)`|
|`NetCurrentAssets`||
|
`36,819`|
`36,819`|
|
`45,591`|
|`TotalAssetsless`|||||||
|`CurrentLiabilities`|||
`986,752`|
`986,752`|
|
`1,106,555`|
|`Funds- unrestricted`|`4`|
|
`986,752`
|
`986,752`
|
|
`1,106,555`
|
|`Astrusteesweapprovetheseaccounts`|||||||
|
`MrJamesHambro`||||
`MrsDiana`|
`Hambro`|
|
|
`od`
`MrBartholomewPeerless`|||||||
**The J and D Hambro Charitable Trust**
## **Balance Sheet Schedules**
## **At 31 December 2022**
**----- Start of picture text -----**
2022 2021
Page Income Capital Total Total
£ £ £ £
Cash
SG Kleinwort Hambros 27,274 27,274 48,471
James Hambro & Partners LLP
Capital account 10,000 10,000
Income account 2,791 2,791
5 40,065 40,065 48,471
Creditor
Saffery LLP 5 3,246 3,246 2,880
**----- End of picture text -----**
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**The J and D Hambro Charitable Trust**
**Notes to the Financial Statements For the year ended 31 December 2022**
## **1.[ Accounting Policies]**
The financial statements are prepared in accordance with 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) issued on 16 July 2014 and the Charities Act 2011. The particular policies adopted by the trustees are described below.
## 1) Accounting convention
The financial statements are prepared under the historical cost convention as modified by the revaluation of investments to market value.
## 2) Fund accounting
The Charity maintains an expendable endowment and income fund, which represents unrestricted income and capital which is expendable at the discretion of the trustees in the furtherance of the objects of the Charity.
## 3) Incoming resources
All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance of receipt.
Investment income is accounted for when receivable. Tax recoverable relating to investment income is accounted for in the same period as the related income.
## 4) Direct Charitable expenditure
Direct Charitable expenditure comprises donations directly related to the objects of the Charity.
## 5) Other expenditure
Other costs relate to expenditure incurred in the management of the Charity's assets, dealing with donations and administration, and compliance with constitutional and statutory requirements.
## 6) Investments
Investments are stated at market value. Gains and losses are shown in the appropriate section of the statement of financial activities.
## 7) Income from investments
Dividends from UK investments are shown at the gross amount received.
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**The J and D Hambro Charitable Trust**
**Notes to the Financial Statements For the year ended 31 December 2022**
## **2. Information regarding Employees and Trustees**
There were no employees in the year or prior year.
James Hambro is the founder and a member of James Hambro and Partners LLP, which receives investment management fees from the Trust, which are immaterial in the context of its overall business.
## **3. Investments held as fixed assets**
|Market value at 1 January 2022
Purchases during the year
Disposals at book value
Net unrealised gain/(loss)
Market value at 31 December 2022
Historical Cost at 31 December 2022|**2022**
**£**
1,060,964
725
(11,558)
(100,198)
949,933
603,253|**2021**
**£**
955,816
2,719
102,429
1,060,964
608,244|
|---|---|---|
Investment revaluation as above is at middle market value at the year end. All investments are held within unrestricted funds.
Material Investments (over 5% of portfolio) :
All investments held, the Barnham Broom Fund and the Harrier Capital Growth Fund.
## **4. Taxation**
The Trust is a registered Charity and does not trade for tax purposes. It is not liable for income tax or corporation tax on its surplus.
## **5. Charitable Commitments**
At the Balance Sheet date there were no commitments for future donations.
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## **The J and D Hambro Charitable Trust**
## **Schedule of Grants/Donations**
## **For the year ended 31 December 2022**
**----- Start of picture text -----**
Page 2022 2021
Alzheimers Society 500
Barnham Broom and Upper Yare Group 2,500
BE Support Trust 500
Bloodwise 500
Brains Trust 1,000
Buckingham Emergency Appeal 500
Childhood First 1,000
Childhood First Norfolk 1,800
David Nott Foundation 2,000
Dementia UK 200
Each 300
Game & Wildlife Conservation Trust 250
GROL 500
Guide Dogs for the Blind 12,461
Hackney Food Bank 100
Hospice for Hope 5,000
Marie Curie 500
Livability 2,500
Motor Neruone Disease Association 500
National Gardens Scheme 1,500
Norwich Samaritans 500
Priscilla Bacon Norfolk Hospice 5,000
St Pauls Cathedral 12,000
Syngap Research Fund 1,000
The Brain Tumour Charity 500
The Icarus Trust 500
Thornage Hall Independent Living 500
The Queen Elizabeth Hospital 1,000
The Royal Marsden Cancer Charity 1,000
The Shetland Pony Stud Book Society 500
Tribe Freedom Foundation 500
War child 4,412
ZSL 5,000
4 46,373 20,150
**----- End of picture text -----**
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## **The J and D Hambro Charitable Trust**
## **Schedule of Investments**
## **For the year ended 31 December 2022**
|||**Investments held at**|**Investments held at**||||**Acquisitions/(disposals)**|**Acquisitions/(disposals)**|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||**1 January 2022**||||||**Profit or**|**(loss) on :**|||**Investments**|**held at 31 December 2022**||
||||**Market**||||**Cost/**||**2022**|||**2021**|**Market**|**Unrealised**|
|**UK Equities**|**Holding**|**Cost**|**value**|**Date**||**Holding**|**(proceeds)**|**Cost**|**value***|**Holding**|**Cost**|**value***|**value**|**profit/(loss)**|
|||**£**|**£**||||**£**|**£**|**£**||**£**|**£**|**£**|**£**|
|James Hambro Harrier|||||||||||||||
|Capital Growth Fund|||||||||||||||
|A Income units|160,000|160,013|323,520|Jan|18|(23)|(45)|22|(2)||||||
|||||Mar|24|(898)|(1,700)|802|(116)||||||
|||||May|26|(159,079)|(321,657)||||||||
|James Hambro Harrier||||May|26|291,108|321,657||||||||
|Capital Growth Fund B £ Acc||||Dec|6|(8,774)|(8,889)|4,094|(806)|282,333|154,297|311,962|282,898|(29,064)|
|The Barnham Broom Fund|||||||||||||||
|Income units|366,522|448,231|737,444|May|6|383|725|||366,905|448,956|738,169|667,035|(71,134)|
|||608,244|1,060,964||||(9,909)|4,918|(924)||603,253|1,050,131|949,933|(100,198)|
* = value at 1 January 2022 adjusted, if necessary, for the cost of subsequent additions.
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