## **HINCHLEY CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE)** Registered Company No. 05353283 Registered Charity No. 1108412 http://www.hinchleycharitabletrust.org.uk/ ## **Report and Financial Statements** ## **for** ## **Year ending 30 June 2022** 1 ## **Annual Report** The Trustees present their Annual Report together with the financial statements of Hinchley Charitable Trust (“HCT”) for the year 1 July 2021 to 30 June 2022. The Annual Report serves the purposes of both a Trustees’ Report and Directors’ Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted. ## **1. OBJECTIVES AND ACTIVITIES** Hinchley Charitable Trust (“HCT”) was inaugurated on 12 March 2005. The legal objects of HCT are the general purposes of such charitable bodies or for such other purposes as the Trustees may from time to time decide as shall be exclusively charitable (“the Objects”). HCT is a grant-making charity. Through its grants and partnerships with its beneficiaries it supports a variety of charitable activities primarily in the United Kingdom, and also overseas in exceptional cases that match HCT’s strategic priorities. The Trustees give particular emphasis to activities relating to the spread of the Christian religion and its potential benefits for disadvantaged communities. HCT aims to maximise the capacity of its grant recipients to make a transformative contribution to the spiritual and social wellbeing of human communities and persons in the United Kingdom and overseas. The Trustees are particularly keen to support smaller charities where a grant can make a significant difference to the work of the charity. HCT focuses on the following four main categories of activity. The Trustees have chosen to support these in broadly the proportions indicated, and have adopted a policy of normally making no more than four grants per annum in each of these four areas: - Christian organisations engaged in holistic mission 40% - • Christian organisations at work in the public sphere 20% • Christian leadership training 20% • Christian work among young people 20% The main activities of HCT during the year ending 30 June 2022 were: - a. Undertaking rigorous review of applications from registered or recognised charities whose activities correspond to the main categories of charitable work that the Trustees have identified. - b. Providing and regularly monitoring grants to registered or recognised charities whose activities have been deemed by the Trustees to have a fit with the objects and strategic priorities of HCT. - c. By video-conferencing and face-to-face meetings and regular communication, developing medium to long-term strategic relationships with its beneficiaries in order to promote commonality of vision. - d. Managing the assets of HCT in order to sustain its grant-making capacity. - e. Keeping under review the asset distribution of HCT’s investments. 2 The Trustees have referred to the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of HCT, its grant-making and future activities. In particular, the Trustees have considered how planned activities will contribute to the aims and objectives they have set. During the year formal meetings of the Trustees were held on 20 November 2021, 21 February 2022 and 11 June 2022. The February 2022 Trustee meeting was held as a video conference call; the other meetings were held in person. The Trustees also conferred at other times by telephone, email, and at informal meetings. ## **2. ACHIEVEMENTS AND PERFORMANCE** During the year the Trustees made 15 grants to 15 different charitable organisations amounting to £136,000 (2021: 22 grants amounting to a total of £204,000). Of these grants, 1 was a one-off gift, 3 were potentially for 2 years or more, and 11 were for 3 years. 13 of the 15 charities had received previous grants from HCT, all within the last 5 years. This pattern reflects HCT’s policy to form on-going relationships with its recipient charities over a period of several years. No grants were made to individuals. During the year the following 9 organisations were recipients of grants of £10,000 or more: |SAT-7 UK|10,000| |---|---| |Willowfield Parish Community Association|10,000| |South West Youth Ministry|10,000| |A Rocha UK|10,000| |acet UK Esteem|10,000| |Solomon Academic Trust|10,000| |Parish Nursing Ministries UK|10,000| |Sports Chaplaincy UK|10,000| |Langham Partnership|15,000| There were 6 regular grants all between £5,000 and £10,000 each. Through its grant-making activity during the year HCT believes it has made a strategic difference to its beneficiaries and hence to the wider good of society, both in the United Kingdom and overseas. For example: ## • A Rocha UK: _We are deeply grateful to the trustees of the Hinchley Charitable Trust for their support for this two-year piece of work. Through the project, A Rocha UK has been able to make a leading contribution to a campaign which galvanised UK churches to speak up and commit to ongoing action on climate change, using the hook of COP26 in the UK. We have played a leading role in strengthening the network of Christian denominations and charities, collaborating around action on the environment and making it more sustainable for the future._ ## • Sutton Schoolswork: _We are so grateful to Hinchley for the financial support we have received, and recognise that the demands on charities such as yours are considerable, and you have to make difficult choices each year. Please be assured that every penny you provide enables children to hear about Him, and we are proud of our reputation across the borough as a professional organisation that delivers quality, passion and relevance._ ## • Willowfield Parish Community Association: _We are so grateful to have had the support of the Hinchley Trust over the last 3 years as we navigated all the difficulties caused by the pandemic and we feel so blessed to have been able to support our community through_ 3 _such a difficult few years. We hope you are as encouraged as we are by the difference we’ve been able to make in the lives of local people through our outreach project._ ## **3.4 Risk Management and Assessment** The Trustees have adopted the following risk policy: ## 1. INVESTMENT RISK HCT’s investment managers, Investec, are responsible for giving HCT a diversified portfolio through a measured investment in equities and bonds, and thereby reducing HCT’s exposure to investment risk as defined in the investment policy. ## 2. RISKS TO CASH FUNDS HCT’s cash balances are held in a bank and in Investec, to ensure diversification of risk to the current cash funds held. ## 3. RISKS IN GRANT-MAKING All new charities being considered for grants by the Trustees are carefully investigated as to their financial soundness and suitability. Formal acknowledgement of all grants is required from all supported charities. Overall, the Trustees have examined the major governing, operational and financial risks to which HCT is exposed and, having considered the likelihood of those risks, confirm that systems have been established to mitigate these risks. ## **3.5 Related Parties** Sarah Smith is an employee of acetUK. She took no part in agreeing the grant to acetUK (Esteem). There were no other grants made this financial year which had any link to any of the employees or Trustees of HCT. ## **3.6 Statement of Directors’ (Trustees’) Responsibilities** The Trustees (who are also Directors of HCT for the purpose of company law) 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.) Company law requires Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: - a. Select suitable accounting policies and then apply them consistently; - b. Observe the methods and principles in the Charities SORP (FRS102); - c. Make judgements and accounting estimates that are reasonable and prudent; - d. State whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and - e. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees as Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention 4 and detection of fraud and other irregularities. ## **3.7 Small Company Declaration** The financial statements appended to this report have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and the Financial Reporting Standards (FRS)102. ## **4. STRUCTURE, GOVERNANCE AND MANAGEMENT** HCT is a charitable company limited by guarantee, incorporated on 4 February 2005 and registered as a charity on 3 March 2005. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. HCT operates through meetings and regular correspondence of the Trustees, who are also the Directors of the company. All decisions are taken by the Trustees. Responsibility for financial management is delegated to one Trustee who draws on the support of other Trustees as necessary. Day-to-day administration of HCT is in the hands of a part-time salaried administrator, who is the Company Secretary. The Trustees are appointed by existing Trustees. In identifying potential new Trustees, the existing Trustees look to bring in people with experience in the Not-for-Profit Sector to complement existing experience and knowledge. The Trustees are conscious of the need to provide for the future management of HCT by the appointment and training of new Trustees from time to time. All the existing Trustees have experience of the charity sector either as Trustees or as employees of other charities, and one has held a senior paid position within a charity. Training is gained through these other charities plus attendance by individual Trustees at conferences and seminars usually but not exclusively sponsored by the Trustees’ professional advisors. A record of training is maintained and reviewed to ensure a balance of expertise is held by the Trustees overall. In the light of training received, the Trustees will consider whether additional training is required for the Trustees as a whole. HCT follows a robust policy of Trustees being required to declare interest and abstain from decision-making whenever grants are being considered to a charity in which a Trustee has an interest. ## **5. FINANCIAL REPORT** The year saw a significant milestone as HCT completed the sale of its last properties completing a strategy which has run over many years. With one of the last properties being sold being vacant, income for the year was down at £116,180. Costs were £221,837 including £43,157 relating to the disposal of the properties and a further £17,330 relating to the costs of holding the properties. This resulted in a deficit of £106,131 before investment gains and losses. The Trustees were prepared to accept this deficit reflecting the changes in the investment portfolio impacting income and to ensure that grants were maintained albeit at a lower level than the previous year £136,000 (2021: £204,000) although 2021 included some exceptional grants. Investment gains and losses were a net loss of £125,480. With the sale of the properties the Trustees have adopted a revised investment policy and funds are being moved into a limited number of broad-based ethical investment funds in line with the Trust’s ethical investment policy. As HCT has an expendable endowment the Trustees have agreed to draw on the endowment to meet current needs. The Trustees review the budget for grants each year recognising the overall financial position of the Trust. A more thorough review is to be carried out now the sale of the remaining properties have been 5 completed. ## **Reserves** The level of unrestricted reserves has risen to £26,414 against required reserves of £23,750, giving cover of 111% and considered appropriate by the Trustees. HCT has the flexibility because it has an expendable endowment and transferred £37,500 from the endowment during the year. Further transfers are expected during the coming year also reflecting the Trustees adopting a total return in its revised Statement of Investment Principles. 6 tharlty Nan*: HlnthleyCharitableTru5t Charty Number IIW12 Ccffipany Number 05353283 P￿ndPa1 and Rewrnl offi￿ 2 Arnold Dri¥e. (he5yW. 5￿ÈT. X19 26D Wetstte www.hinchl Mrs Ell￿beth Danlel the pericxl tothe dth of*8niNgttMs reprt were." Prof 8rlan str￿ey Ichaimmnl Prof Paul aoke Ideceased May20221 Mr Mark Hotts Ires18￿d ju￿ 20221 Mrjohn Lewck ITreasurerl Mr Rceer Nort￿Ott 7-9 Queens Ro* Wimbtedon SW19 8NG Bankers: 111 CAF Bank Ltd 25 Hill Avenue West Mallw Kent ME19 41Q 121 COIF Charity Furxl Angel Lzne Inve51ment Managets: 30 Gresham Street Lonth)n EC2V 7C Stiles Harold Willi3rns Partnorslhp l Jtthilee strÈeL fv4ht￿. BNI IGE Helen Blurxlell MHA Madntyre Hudson Rutland Hc*Jse, 148 Edmund StreeL Wrnwwyham. 83 2FD This was aP￿￿rnI ￿ theTn4Stees ar*1 5wKd their behalf trr. Mrjohn Leb4 .Iq M 501.3 ## **Independent Examiner’s Report to the Trustees of Hinchley Charitable Trust** I report to the charity Trustees on my examination of the accounts of the company for the year ended 30 June 2022. This report is made solely to the company's Trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. ## **Responsibilities and Basis of Report** As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 (the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent Examiner's Statement** 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: 1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the Charities SORP (FRS102). methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. Signed: Dated: 30 March 2023 Helen Blundell LLB FCA FCIE DChA ## **MHA MacIntyre Hudson** Chartered Accountants Rutland House 148 Edmund Street Birmingham B3 2FD 8 ## Hinchley Charitable Trust ## Report of the Trustees and Accounts for the year ended 30 June 2022 ## **Statement of Financial Activities** ## **For the year ending 30 June 2022** |**Statement of Financial Activities**
**For the year ending 30 June 2022**|**Statement of Financial Activities**
**For the year ending 30 June 2022**| |---|---| |**Unrestricted Restricted Endowment Total**
**Notes funds**
**funds funds funds**|| |**_Income and Endowments from:_**
Investment Income
2
116,180
Other
0|0
(474)
115,706
0
0
0
**0**
**(474)**
**115,706**
0
(73,890)
(73.890)
0 0
(136,000)
0 0
(11,947)
**0**
**(73,890)**
**(221,837)**
**0**
**(74,364)**
**(106,131)**
**0 (37,500)**
**0**
0
40,507
43,975
0
(169,452)
(169,452)
0
3,468
0
**0**
**(237,341)**
**(231,608)**
**0**
**4,222,094**
**4,242,775**
**0**
**3,984,753**
**4,011,167**| |**Total income**
**116,180**
**_Expenditure on:_**
Raising Funds
3
0
Charitable Activities:
Grants
4
(136,000)
Support Costs and Governance
5
(11,947)|| |**Total expenditure**
**(147,947)**|| |**Net income / (expenditure) resources before transfer**
**(31,767)**|| |**Transfers between Fund**
**37,500**|| |Gains / (losses) on investment assets
0
Unrealised gains/(losses) on investment assets
0
Realised gains / (losses) on property investments
0|| |**Net movement in funds**
**5,733**|| |**Total funds brought forward**
**20,681**|| |**Total funds carried forward**
**26,414**|| ``` 9 ``` Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2022 ## **Statement of Financial Activities For the year ending 30 June 2021** |||**Unrestricted**|**Restricted**|**Endowment**|**Total**| |---|---|---|---|---|---| ||**Notes**|**Funds**|**Funds**|**Funds**
|**Funds**| |**_Income and Endowments from:_**|||||| |Investment Income||124,814|6,673|0|131,187| |Other||0|0|0|0| |**Total income**||**124,814**|**6.673**|**0**|**131,187**| |**_Expenditure on:_**
Raising Funds
|3|0|(6,373)|(71,794)|(78,167)| |Charitable Activities:|||||| |Grants|4|(204,000)|0|0|(204,000)| |Support Costs and Governance|5|(11,158)|
0|0|(11,158)| |**Total expenditure**||**(215,158)**|**(6,373)**|**(71,794)**|**(293,325)**| |**Net expenditure before transfer**||**(90,344)**|**0**|**(71,794)**|**(162,138)**| |Transfer between funds||20,000|
0|(20,000)|0| |**Net expenditure before gains/losses**||**(70,344)**|**0**|(91,794)
|(162,138)| |Realised gains / (losses) on investment assets||0|0|20,797|20,797| |Realised gains/(losses) on property investments||0|0|211,250|211,250| |Unrealised gains/(losses) on investment assets||0|0|227,354|227,354| |Unrealised gains / (losses) on property investments||0|0|300,407|300,407| |**Net movement in funds**||**(70,344)**|**0**|**668,014**|**597,670**| |**_Reconciliation of funds_**|||||| |**Total funds brought forward**||**91,025**|**0**|**3,554,080**|**3,645,105**| |**Total funds carried forward**||**20,681**|**0**|**4,222,094**|**4,242,775**| ``` 10 ``` Hinchley Clwitat48 Trust Rewt of the Trustees Accowts fc( the year 30 June 2022 Balance Sheet as at 30 June 2012 2022 2021 Fixed assets Investment Portfolio Property Funds Inve5tmtnt Properties Totsl Flxed assets 2,303,716 539,039 2,148.246 684,954 1,153,532 3,986,732 loa 2W.755 Curyent assets Bank balances Debtors Totsl Current assets li 12 1.016,798 161,614 L178A12 257.956 26.308 284,264 Uabllltles Actnjals and ot￿r creditors Total UabSlltles io.ocKJI iioJxx)I 128,2211 {28221) Net ¥issets 4J)11.167 4,242,775 Deficit for year before gains arxllosses Balance broL¥ht forward Gainslllossesl on inVest￿nt assets Gainslllosse5) on irNestrr*nt propÈrty Totsl Reser¥es 1106.131) 4.242,775 1128,9451 3,468 4AIII.167 1162.1381 3,645,105 248,151 511,657 4242.775 Represented byfunds Unrestricted Restricted Endowment Total 15 26.414 20,681 3.984.753 4IJll.167 4,222,094 4242,775 Th• notes on pages 12 to 19 fomi part of these financial ststement& Forthe y•arendin8 30June 2022the companywastntitled toexemption from audit undersection 477 of the Companies Act 2006. The members have not required the company to ¢)btsin an a￿lt of its accounts fort￿ year in question sn a¢cordance with sect*on 476 of CornpaniesAct 200& The Trustees aCkn¢￿Ied￿e their resp)nsibilr(ies for complying with the requirernents of the Act with respect to accounting records and the prepardtion of financial stat•m•nts. These financial Statemér￿ have been prepared in accordance with the provisions applicable to entities subject to the small ¢ompanieg regime. The financial statements were approved by the Trust•es and airthorised for distribution on and signed on rts behalf by-. 39 ll4RIW 20 Mr John ievldl Trustee Company Number: 05353283 li Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2022 ## Notes to the Accounts **1. Accounting policies** ## **General information** Hinchley Charitable Trust (HCT) is a charitable company registered in England and Wales. The address of the principal office is given in section 6 of the trustees’ report. The principal activity of the trust is the award of grants in furtherance of charitable purposes. ## **Basis of Preparation** The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), published on 16 July 2014. The Charitable Company is a public benefit group for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP (effective 1 January 2019)), the Companies Act 2006 and the Charities Act 2011. Hinchley Charitable Trust constitutes a public benefit entity as defined by FRS102. ## **Currency** 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 pound. ## **Going concern** The financial statements have been prepared on a going concern basis. Having carried out a detailed review of the HCT's resources and the current economic challenges facing both HCT and its members the Trustees are satisfied that the Charity has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements. ## **Income** All income is recognised once HCT has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Rental income is recognised in the period in which it is due. Investment income is recognised on receipt. ## **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 and the 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. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure. ## **Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date. Investment gains and losses, whether realised or unrealised, are shown in the heading ‘gains/(losses) on investments’ in the Statement of Financial Activities. ``` 12 ``` Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2022 ## **Investment properties** Investment property was carried at valuations based on offers received for the properties. The remaining properties were sold during the financial year. ## **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. ## **Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the charitable purposes of HCT. Restricted funds are funds to be used in accordance with specific restrictions imposed by donors or which have been raised by HCT for particular purposes. The aim and use of each restricted fund is set out in the notes to the accounts. Endowment funds represent those assets which must be held permanently by HCT, principally in the form of investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as restricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund. The Trustees have discretion to expend the endowment in furtherance of the charitable purposes should they determine to do so. ## **Financial instruments** Basic financial instruments are measured at amortised cost other than investments which are measured at fair value. ## **Debtors and creditors** Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price and subsequently measured at amortised cost less any impairment. ## **Critical accounting estimates and judgement** In the application of the HCT's accounting policies, the Board is 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, if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below. ## _**Fair value**_ The Charity valued the investment properties based on offers received, which have now been sold. ## _**Recoverable value of debtors**_ HCT makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. ``` 13 ``` Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2022 ## **Analysis of income and expenditure** **Total** **Unrestricted Restricted Endowment 2022** |**2. INCOME**
**Investment Income - Property Income**
Rent
Insurance Recovered
Total
**Investment Income - Dividends**
Dividends
Property Funds
Total
**Investment Income - Interest**
Bank Interest
Bonds
Other interest
Total
**INCOME TOTAL**
**21**
**Investment Income - Property Income**
Rent
Insurance Recovered
Total
**Investment Income - Dividends**
Dividends
Property Funds
Total
**Investment Income - Interest**
Bank Interest
Bonds
Other interest
Total
**INCOME TOTAL**
|**2. INCOME**
**Investment Income - Property Income**
Rent
Insurance Recovered
Total
**Investment Income - Dividends**
Dividends
Property Funds
Total
**Investment Income - Interest**
Bank Interest
Bonds
Other interest
Total
**INCOME TOTAL**
**21**
**Investment Income - Property Income**
Rent
Insurance Recovered
Total
**Investment Income - Dividends**
Dividends
Property Funds
Total
**Investment Income - Interest**
Bank Interest
Bonds
Other interest
Total
**INCOME TOTAL**
|38,592
0
0
38,592
1,157
0
(474)
683| |---|---|---| |||39,749
0
(474)
39,275
49,516
0
0
49,516
23,890
0
0
23,890| |||73,406
0
0
73,406
259
0
0
259
2,766
0
0
2,766
0
0
0
0| |||3,025
0
0
3.025
116,180
0
(474)
115,706| |||64,209
0
0
64,209
0
6,373
0
6,373| |||64,209
6,373
0
70,582
27,022
0
0
27,022
28,274
0
0
28,274| |||55,296
0
0
55,296
62
0
0
62
5,247
0
0
5,247
0
0
0
0| |||5,309
0
0
5,309
124,814
6,373
0
131,187| ## **2021** ``` 14 ``` Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2022 **Total** **Unrestricted Restricted Endowment 2022** |**EXPENDITURE**|||||| |---|---|---|---|---|---| |**3 Cost of generating funds -**|**Investment management costs**||||| |Investment Fees||0|0|13,403|13,403| ||Total|0|0|13,403|13,403| |**Cost of generating funds - Property Costs**|||||| |Property Management Costs||0|0|4,296|4,296| |Insurance Paid||0|0|335|335| |Legal Fees||0|0|(1,140)|(1,140)| |Other Property Costs||0|0|13,839|13.839| |Costs of property sales||0|0|43,157|43,157| ||Total|0|0|60,487|60,487| |**Total Cost of Generating Funds**||**0**|**0**|**73,890**|**73,890**| ## **2021** |**Cost of generating funds - Investment management costs**|**Cost of generating funds - Investment management costs**||||| |---|---|---|---|---|---| |Investment Fees|0|0|12,914|12,914|| |Total|0|0|12,914|12,914|| |**Cost of generating funds - Property**|**Costs**||||| |Property Management Costs|0|0|9,330|9,330|| |Insurance Paid|0|6,373|911|7,284|| |Legal Fees|0|0|2,707|2,707|| |Other Property Costs|0|0|17,403|17,403|| |Costs of Property Sales|0|0|28,529|28,529|| |Total|0|6,373|58,880|65,253|| |**Total Cost of Generating Funds**|**0**|**6,373**|**71,794**|**78,167**|| |**4 Grants**|||||| |**Grants - Holistic Mission**|||||**2021**| ||**Unrestricted Restricted**||**Endowment**|**2022**|**total**| |A Rocha UK|10,000|0|0|10,000|10,000| |Faith2Share|0|0|0|0|10,000| |Karis Neighbour Scheme|0|0|0|0|10,000| |Mount Merrion|7,500|0|0|7,500|0| |The Nehemiah Project|0|0|0|0|30,000| |Parish Nursing|10,000|0|0|10,000|0| |Saltbox|7,500|0|0|7,500|0| |Sat-7 UK|10,000|0|0|10,000|10,000| |The Bridge|0|0|0|0|7,500| |Willowfield Parish Community|10,000|0|0|10,000|10,000| |Association|||||| |Total|55,000|0|0|55,000|87,500| |**Grants - Public Sphere**|||||| |Christians in Parliament|7,500|0|0|7,500|7,500| |Church & Media Network|0|0|0|0|0| |LICC|0|0|0|0|8,000| |Theos|0|0|0|0|9,000| |Total|7,500|0|0|7,500|24,500| ``` 15 ``` Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2022 |
**Grants - Training Leaders**
Centre for Theology &
Community
Langham Partnership
New Wine Ireland
Solomon Academic Trust
Wycliffe
Total
**Grants - Young People**
acet UK (Esteem)
Innovista Thrive
Psalms
South West Youth Ministry
Sports Chaplaincy
Sutton Schools Work
Thrive Youth Ministries
Youthscape
Total
**Total Grants**
**5**
**Charitable Activities -**
**Support Costs**
Bank Charges
Office costs
Staff Pay
Staff Pension
Subscriptions
Staff Travel
Total
**Governance costs**
Independent
Examination Fees
Trustee Travel
Trustee Meetings
Total
**Total Support Costs**|
**Grants - Training Leaders**
Centre for Theology &
Community
Langham Partnership
New Wine Ireland
Solomon Academic Trust
Wycliffe
Total
**Grants - Young People**
acet UK (Esteem)
Innovista Thrive
Psalms
South West Youth Ministry
Sports Chaplaincy
Sutton Schools Work
Thrive Youth Ministries
Youthscape
Total
**Total Grants**
**5**
**Charitable Activities -**
**Support Costs**
Bank Charges
Office costs
Staff Pay
Staff Pension
Subscriptions
Staff Travel
Total
**Governance costs**
Independent
Examination Fees
Trustee Travel
Trustee Meetings
Total
**Total Support Costs**|
**Grants - Training Leaders**
Centre for Theology &
Community
Langham Partnership
New Wine Ireland
Solomon Academic Trust
Wycliffe
Total
**Grants - Young People**
acet UK (Esteem)
Innovista Thrive
Psalms
South West Youth Ministry
Sports Chaplaincy
Sutton Schools Work
Thrive Youth Ministries
Youthscape
Total
**Total Grants**
**5**
**Charitable Activities -**
**Support Costs**
Bank Charges
Office costs
Staff Pay
Staff Pension
Subscriptions
Staff Travel
Total
**Governance costs**
Independent
Examination Fees
Trustee Travel
Trustee Meetings
Total
**Total Support Costs**||**2021**
**Unrestricted**
**Unrestricted**
**Restricted**
**Endowment 2022**
**and total**|**2021**
**Unrestricted**
**Unrestricted**
**Restricted**
**Endowment 2022**
**and total**|**2021**
**Unrestricted**
**Unrestricted**
**Restricted**
**Endowment 2022**
**and total**| |---|---|---|---|---|---|---| |||||7,500
15,000
5,000
10,000
0|0
0
0
0
0|0
7,500
0
0
15,000
15,000
0
5,000
5,000
0
10,000
0
0
0
5,000| |||||37,500
10,000
0
0
0
0
0
10,000
0
10,000
0
6,000
0
0
0
0
0|0
0
0
0
0
0
0
0
0|0
37,500
25,000
10,000
7,500
0
0
0
7,500
10,000
10,500
10,000
10,000
6,000
6,000
0
10,500
0
15,000
36,000
67,000
**136,000**
**204,000**
96
78
123
128
7,326
8,075
0
179
354
250
0
0
7,899
8,710
3,070
2,448
804
0
174
0
4,048
2,448
**11,947**
**11,158**| |||||36,000
0
**136,000**
**0**|0
**0**|| |||||96
0
123
0
7,326
0
0
0
354
0
0
0|0
0
0
0
0
0|| |||||7,899
0
3,070
0
804
0
174
0|0
0
0
0|| |||||4,048
0
**11,947**
**0**|0
**0**|| |||**Activities**
**Undertaken**
**Directly**||**Grant Funding of**
**Activities**|**Support Costs**
|**Total**| |---|---|---|---|---|---|---| ||**Analysis of Expenditure on**|||||| |**6**|**Charitable Activities**|||||| ||Grant Making||0|136,000|11,947|147,947| ``` 16 ``` ## Hinchley Charitable Trust ## Report of the Trustees and Accounts for the year ended 30 June 2022 - **7** No trustee received any remuneration during the period. 5 trustees (2021: none) were reimbursed expenses in the year £804 (2021: £nil). ## **8 Key Management and employees** Key Management Personnel include the Trustees and Senior Management. The total employee benefits of HCT's Key Management Personnel were £7,326 (2021 £8,254). The Company Secretary is the only member of staff whose sole benefit is the salary shown above. No individual received remuneration in excess of £60,000 ## **9 Taxation** The charitable company is exempt from tax on its charitable activities. ## **10 Fixed asset investments** |

**10a Quoted investments**
**At market value**
At 01 July 2021
Purchased at cost
Net sales proceeds
Realised gain /loss on disposal
Unrealised gain on revaluation
At 30 June 2022
**Historical cost**
At 30 June 2022
**10b**
**Investment properties**
At 1 July 2021
Net Sale Proceeds
Disposal costs
Realised gains on disposal
Unrealised gain/(loss) on revaluation
At 30 June 2022

Historical cost|

|
| |---|---|---| |||| The investment properties were valued at the offer prices for properties which have now been sold. ``` 17 ``` Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2022 ## **11. Cash at bank and in hand** |CafBank General
CafBank Gold
COIF Deposit
Investment Manager cash
**Total for Cash at bank and in hand**
**12. Debtors**
Rent Debtors
Insurance Debtors
Interest Accruals
Loan to The Bridge
**Total for Debtors**|42,495
10,996
918,031
78,285
0
160,000
56,272
8,675| |---|---| ||**1,016,798**
**257,956**
3,500
21,301
1,157
2,710
1,157
2,297
155,800| ||**161,614**
**26,308**| The loan to The Bridge is an interest free loan with an expected repayment by monthly instalments over 20 years from December 2021, although subject to a review after 5 years. The loan has been made in furtherance of the charity’s purposes. ## **13. Creditors: Amounts falling due in one year** |**13. Creditors: Amounts falling due in one year**|| |---|---| |Property Rental Prepayments
Accruals
Other creditors
**Total for Creditors: Amounts falling due in one year**|0
(10,809)
(2,500)
(2,000)
(7,500)
(15,412)| ||**(10,000)**
**(28,221)**| ## **14 Analysis of Net Assets between Funds** |**2022**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**| |---|---| |Investments
Current Assets
Current Liabilities
**Total**|0
0
2,842,755
2,842,755
36,414
0
1,141,998
1,178,412
(10,000)
0
0
(10,000)| ||**26,414**
**0**
**3,984,753**
**4,011,167**| |**2021**
Investments
Current assets
Current liabilities
**Total**|Unrestricted
Fund
Restricted
Funds
Endowment
Total
0
0 3,986,732
3,986,732
44,102
0 240,162
284,264
(23,421)
(4,800)
(28,221)| |---|---| ||**20,681**
**0 4,222,094 4,242,775**| ``` 18 ``` Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2022 ## **15 Summary of Fund movements** |


**2022**
General
Restricted
Endowment
**Total**



**2021**
General
Restricted
Endowment
**Total**|






|**Fund**
**Fund**
**balances**
**balances**
**brought**
**carried**
**forward**
**Income Expenditure Gains/Losses**
**Transfers**
**forward**
20 681
116,180
(147,947)
0
37,500
26,414
0
0
0
0
0
0
4,222,094
(474)
(73,890)
(125,477)
(37,500)
3,984,753|**Fund**
**Fund**
**balances**
**balances**
**brought**
**carried**
**forward**
**Income Expenditure Gains/Losses**
**Transfers**
**forward**
20 681
116,180
(147,947)
0
37,500
26,414
0
0
0
0
0
0
4,222,094
(474)
(73,890)
(125,477)
(37,500)
3,984,753|**Fund**
**Fund**
**balances**
**balances**
**brought**
**carried**
**forward**
**Income Expenditure Gains/Losses**
**Transfers**
**forward**
20 681
116,180
(147,947)
0
37,500
26,414
0
0
0
0
0
0
4,222,094
(474)
(73,890)
(125,477)
(37,500)
3,984,753| |---|---|---|---|---| |||**4,242,775**
**115,706**|**(221,837)**|**(125,477)**
**0**
**4,011,167**| |||**Fund**
**Fund**
**balances**
**balances**
**brought**
**carried**
**forward**
**Income Expenditure Gains/Losses Transfers**
**forward**
91,025
124,814
(215,158)
0
20,000
20,681
0
6,373
(6,373)
0
0
0
3,554,080
0
(71,794)
759,808
(20,000)
4,222,094||| |||**3,645,105**
**131,187**
**(293,325)**
**759,808**
**0**
**4,242,775**||| **General Fund** represents unrestricted funds. **Restricted Funds** the restricted funds represent monies paid by the tenants of the investment properties to cover the costs of insurance for which they are responsible. **Endowment Funds** are the original endowment plus accumulated capital gains. The Endowment is expendable. ## **16 Related Party Transactions** Sarah Smith is an employee of acet UK. She took no part in agreeing the grant to acet UK (Esteem). No other related party transactions have been noted during the year. All other transactions with Trustees have been noted at notes 7 and 8 ## **17 Pensions** A pension has been set up through NEST to provide a pension for the Trust’s member of staff. The current employee has chosen not to join the scheme. ## **18** . **Post Balance Sheet Events** £800,000 was invested in tranches in Epworth Global Equity Fund during October and November 2022. ``` 19 ```