Hinchley Charitable Trust Annual Report and Accounts 2023 to 2024 

**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 2024** 

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Hinchley Charitable Trust Annual Report and Accounts 2023 to 2024 **Annual Report** 

The Trustees present their Annual Report together with the financial statements of Hinchley Charitable Trust (“HCT”) for the year 1 July 2023 to 30 June 2024. 

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 incorporated as a company limited by guarantee on 4 February 2005 and registered as a charity on 3 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 faith 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 well-being 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 such charities. 

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<br>|20%|
|Christian work among young people<br>|20%|



The main activities of HCT during the year ending 30 June 2024 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, face-to-face meetings and regular communication, developing medium to long-term strategic relationships with its beneficiaries in order to promote 

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   - Hinchley Charitable Trust Annual Report and Accounts 2023 to 2024 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. 

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. HCT delivers public benefit through the organisations to which grants are given. 

During the year formal meetings of the Trustees were held in person on 14 October 2023 and 20 April 2024, and online on 29 February 2024. The Trustees also conferred at other times by telephone, email, and at informal meetings. 

## **2.   ACHIEVEMENTS AND PERFORMANCE** 

During the year the Trustees made 18 grants to 18 different charitable organisations amounting to £157,414 (2023: 18 grants totalling £146,914). All 18 charities had received previous grants from HCT, 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 11 organisations were recipients of grants of £10,000 or more: 

|acet UK esteem|£10,000|
|---|---|
|Christians in Politics|£10,000|
|Karis Neighbourhood Scheme|£12,000|
|Parish Nursing Ministries UK|£10,000|
|SAT-7 UK|£10,000|
|South West Youth Ministries|£10,000|
|The Centre for Muslim-Christian Studies|£10,000|
|The Faraday Institute for Science and Religion|£11,000|
|Theos|£11,414|
|Willowfield Parish Community Association|£10,000|
|Youthscape|£10,000|



There were 7 regular grants all between £5,000 and £7,500 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: 

## _SAT-7 UK_ 

‘Thank you so much for your generous gift of £10,000. Your care and compassion sustain and grow our ministry year by year advancing God’s kingdom across the MENA [Middle East and North Africa] even in the most challenging areas. Thank you for your precious gospel partnership with SAT-7.’ 

## _Programme for Applied Christian Education (PACE)_ 

‘Thank you very much for your generous donation of £9,000 for our work in schools across Bournemouth, Poole and Christchurch. We are very grateful for your support and the funds. Thank you for being a part of what we are able to do in our local schools. Your support is greatly appreciated and will make a real difference.’ 

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## Hinchley Charitable Trust Annual Report and Accounts 2023 to 2024 

## _acet UK (esteem)_ 

‘We greatly appreciate and value your support and partnership. Through your generosity we have established a network of 280 educators who are impacting the lives of over 85,000 young people across the UK.  We are truly grateful for this collaboration which has impacted individuals, families and communities.’ 

## _Parish Nursing_ 

‘We are grateful to the trustees of the Hinchley Charitable Trust for their support - this cannot be underestimated within the challenging context many charities find themselves. It allows us the security to continue to invest time adjusting and delivering the new Preparation for Parish Nursing Practice course.’ 

## **3.   Risk Management and Assessment** 

The Trustees have adopted the following risk policy: 

## 1. INVESTMENT RISK 

HCT manages investment risk through a bespoke investment portfolio with Rathbones (incorporating Investec) and three managed investment funds to provide a balance across equities bonds and property. 

## 2. RISKS TO CASH FUNDS 

HCT’s cash balances are held in a bank and in Rathbones, 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. 

## **3.1    Related Parties** 

Sarah Smith was an employee of acet UK (esteem) during some of the year.  She took no part in writing the report submitted to HCT on 14 October 2023 on the grant which acet UK (esteem) had previously received from HCT. There were no grants made this financial year which had any link to any of the employees or Trustees of HCT. 

## **3.2   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; 

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Hinchley Charitable Trust Annual Report and Accounts 2023 to 2024 

- 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 and detection of fraud and other irregularities. 

## **3.3   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. The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required 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. During this year, there was a change of Administrator as Mrs Liz Daniel, retired on grounds of health. The new administrator, Mrs Millie Chander-Abraham, took on the role in April whilst allowing a significant period of handover. 

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. Two new Trustees, Mr David Leeds and Mr Cameron Howes, were appointed at the meeting on 14 October 2023, to take effect from the meeting on 20 April 2024. 

HCT follows a robust policy of Trustees being required to declare interest and abstain from decisionmaking whenever grants are being considered to a charity in which a Trustee has an interest. 

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Hinchley Charrtable Trusl Annual Report and Acmints 2023 to 2024
FINANCIAL IIEPORT
Followlrya small investment gairrs in 2022 to 2023 reflecti￿ the wider economic situation and rlsing
interest rate5, the Investment mfolio which provides the incorne for increased by a net
£334,110 in 2023 to 2024. With i￿Orn# from divÉdends and int•rÈst of £115.066 total return was
£449,176. This provided a tota5 return of IO% whlch exceeded the (Jverall tatset IEtuin of CPI +3%
(5%)
Investff*nt incorne ros• in part from some assets bel￿ switched from equities to bonds. benefitti
from irKreased yields. Investment income was up by £22,083 year on year reverslr6 rhe hll In 2022
to 2023. Gfants paid were up by £IO,S(M) as tho Trurt••s maintsir••d th•irtar8•t of rnakiNa 8rants of
around £150,LK)O per annum but also re4x)nded to good grdnt applications.
Costs of runninR HCT were down as the consultsncy spend in 2022 to 2023 was not repeated.
As HCT has an expendable ondowment the Trustees havo ¥reed to draw on the endowment to meet
current needs. During the year £61,IXKJ was drnwn from the ¢Jpitsl to rnaintsin the level of grants
Thè Trustees review the budget for grants eath year recognisinA the overall financial p05ttion of the
Trust.
The level of unrestricted reserves risen to £25,929 against requirod r•serves of £23,938, 8lvin8 cover
of 108%. This Is considered appropriate by the Trustees w'ven Hct has flexibility because It has an
expendable endowment and total eash resources of £48,100. Trnnsfers are expected durin8 th•
coming ye•rto maintain reserves arKI also reflectirqthe Trust•es adoptinga total return in its revised
ststement of Investment PrI￿1p￿S.
Juw

Hinchley Charitable Trust Annual Report and Accounts 2023 to 2024 

## **6. REFERENCE AND ADMINISTRATIVE DETAILS** 

## **6.1 General** 

Charity Name: Hinchley Charitable Trust Charity Number 1108412 Company Number 05353283 Principal and Registered Office      East Cottage, Chantry Road, Harrow, HA3 6NT Website                                              http://www.hinchleycharitabletrust.org.uk/ Company Secretary Mrs Milandeep Chander-Abraham 

## **6.2 Board of Trustees** 

The Trustees, who are also the Directors under the Companies Act 2006, who served during the period to the date of signing this report, were: 

Prof Brian Stanley (Chairman) Mrs Rebecca Corbett Mr John Levick (Treasurer) Mr Roger Northcott Ms Sarah Smith Mr David Leeds (with effect from 20 April 2024) Mr Cameron Howes (with effect from 20 April 2024) 

## **6.3 Advisors to the Charity** 

Solicitors: TWM Solicitors LLP 7-9 Queens Road, Wimbledon SW19 8NG Bankers: CAF Bank Ltd 25 King’s Hill Avenue West Malling Kent ME19 4JQ Investment Managers:        Investec Wealth and Investment Ltd. 30 Gresham Street London   EC2V 7QN CCLA Investment Management Ltd, One Angel Lane, London EC4R 3AB Epworth Investment Fund for Charities 9 Bonhill Street, London EC2A 4PE Independent Examiners: Wende Hubbard, Burgis & Bullock 23 - 25 Waterloo Place, Leamington Spa, CV32 5AL 

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Hinchley Charitable Trust Annual Report and Accounts 2023 to 2024 

## **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 2024. 

## **Responsibilities and Basis of Report** 

As the Trustees of the charity (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 werenotkeptin respect of thecharity as requiredby section386ofthe 2006 Act; or 

2. the accounts do not accord withthoserecords; 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: 

Wende Hubbard FCCA Burgis & Bullock 23 -25 Waterloo Place Leamington Spa CV32 5AL 

8 



Hinchley Charitable Trust 

Report of the Trustees and Accounts for the year ended 30 June 2024 

## **Statement of Financial Activities (including summary income and expenditure account) For the year ending 30 June 2024** 

|||**Unrestricted**|**Endowment    Total**|**Endowment    Total**||
|---|---|---|---|---|---|
||**Notes       funds**||**funds**|**funds**||
|**_Income and Endowments from:_**||||||
|Investment Income|2|115,066|0|115,066||
|Other||0|0|0||
|**Total income**||**115,066**|**0**|<br>**115,066**||
|**_Expenditure on:_**||||||
|Raising Funds<br>|3|0|(11,863)|<br>(11,863)||
|Charitable Activities:||||||
|Grants|4|(157,414)<br>|0|(157,414)||
|Other|5|(14,219)<br>|0|(14,219)||
|**Total expenditure**||**(171,633)**<br>|**(11,863)**|**(183,496)**||
|**Net income / (expenditure) resources before transfer**||**(56,567)**|**(11,863)**|**(68,430)**||
|**Transfers between Funds**|**7**|<br>**52,180**|**(52,180)**|<br>**0**||
|Gains / (losses) on investment assets||0<br>|48,314|48,314||
|Unrealised gains/(losses) on investment assets||<br>0|290,212|290,212||
|**Net movement in funds**||**(4,387)**|**274,483**|**270,096**||
|**Total funds brought forward**||**30,316**|**3,919,678**<br>**3,949,994**|||
|**Total funds carried forward**||**25,929**|**4,194,161**|**4,220,090**||



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Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2024 

## **Statement of Financial Activities (including summary income and expenditure account) For the year ending 30 June 2023** 

|||**Unrestricted**|**Endowment**|**Total**|
|---|---|---|---|---|
||**Notes**|**Funds**|**Funds**<br>|**Funds**|
|**_Income and Endowments_**|||||
|Investment Income|2|92,955|0|92,955|
|Other||28|0|28|
|**Total income**||**92,983**|**0**|**92,983**|
|**_Expenditure on:_**<br>Raising Funds<br>|3|0|(11,509)<br>|(11,509)|
|Charitable Activities:|||||
|Grants|4|(146,914)|0|(146,914)|
|Other|5|(17,167)|0|(17,167)|
|**Total expenditure**||**(164,081)**|**(11,509)**|**(175,590)**|
|**Net expenditure before transfer**||**(71,098)**|**(11,509)**|**(82,607)**|
|Transfer between funds||75,000|(75,000)|0|
|**Net expenditure before gains/losses**||**3,902**|(86,509)<br>|(82,607)|
|Realised gains / (losses) on investment assets||0|10,466|10,466|
|Realised gains/(losses) on property investments||0|0|0|
|Unrealised gains/(losses) on investment assets||0|10,968|10,968|
|**Net movement in funds**||**3,902**|**(65,075)**|**(61,173}**|
|**_Reconciliation of funds_**|||||
|**Total funds brought forward**||**26,414**|**3,984,753**|**4,011,167**|
|**Total funds carried forward**||**30,316**|**3,919,678**|**3,949,994**|



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Hin&*ley ChwitaL4e Trust
Report of the Tnjstees WKI A(mJrts erKled 30 June 2024
8alance Sheet as at 30 June 2024
2024
2023
Flxed assets
InveStn￿nt Portfolio
Property Funds
3,608,537
425.043
3,249,185
450,285
3.699.470
Current assets
Bank balinces
Debtors
Totsl Current assets
48.100
140,710
io
104.684
148.340
Z53,024
13
Uabllllles
Creditors falling due within a vear
Total Uabllltles
14
123LKI)
4220AW 3,949.994
14et Assets
Deficit for year before 8•ins and1033e5
Balance brought forward
GainsI{lo￿Sj on investffÉnt assets
Total N•t Assets
168,4301
3,949,994
338.526
182,6071
4,011,167
21.434
3.9¢*994
The Funils of the Charlty
Unrestrirted
Restricted
Endowrnent
Total Charlty Funds
16
16
16
2S.929
30.316
4,194,161
4220￿) 3.949,994
3.919,678
The notes on pages 12 to 18 fomi part of these financial statements.
Forthe year errfling 30 June 2024the company was entitled to exemption from a￿lit undersection 477 of the Com￿nI¢S
Act 2006.
The members have not required the company to obtsin an •wlit of its accourrts for the year In question In •￿rdance with
section 476 of Companies Act 2006.
The Trumees acknowledge thelr rEsPQn5ibilwiie5 for Complyi￿ with the requirements of the A¢t wlth re>pe¢t to
attounting records arKI the prepardtion of financial ststements.
These financlal statements have ￿en prEparEd in a￿￿[dance with the provisions applicable to entÈtTreJ Jubject to
the small companie< reoime. The financial statements w•re appn>ved by the Trustoes arKI autPx•risod for
distrfbirtion on and signed on its behalf by:
ioz
Mr John Levlck
Trustee
Company Numbv: 05353283
li

Hinchley Charitable Trust 

Report of the Trustees and Accounts for the year ended 30 June 2024 

## 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 charity accounts have been prepared under the historical cost convention modified to include the revaluation of certain financial instruments at fair value.  The principal accounting policies adopted are set out below. 

The charity prepares its financial statements in accordance with the charity's memorandum and articles of association, 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 (FRS102) (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 when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

## **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 to third parties are within the charitable objectives.  Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants.  Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. 

Investment management fees are charged to the endowment fund. 

## **Pensions** 

All staff earning more than the minimum level are offered the opportunity to join a pension scheme.  HCT provides this through Nest.  HCT provides an employer contribution of 5% to match the contribution of employees and is above the minimum required under auto enrolment regulations. 

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Hinchley Charitable Trust 

Report of the Trustees and Accounts for the year ended 30 June 2024 

## **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. 

## **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 Trustees 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. 

## _**Recoverable value of debtors**_ 

HCT makes an estimate of the recoverable value of debtors. When assessing impairment of debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. 

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Hinchley Charitable Trust 

Report of the Trustees and Accounts for the year ended 30 June 2024 

## **Analysis of income and expenditure** 

||||**Total**|||**Total**|
|---|---|---|---|---|---|---|
||**Unrestricted**|**Endowment**|**2024**|**Unrestricted**|**Endowment  2023**||
|**2.   INCOME**|||||||
|**Investment Income - Property Income**|||||||
|Insurance Recovered|0|0|0|28|0|28|
|Total|0|0|0|28<br>|0|28|
|**Investment Income - Dividends**|||||||
|Dividends|76,083|0|76,083|66,370|0|66,370|
|Property Funds|27,922|0|27,922|18,839|0|18,839|
|Total|104,005|0|104,005|85,209|0|85,209|
|**Investment Income - Interest**|||||||
|Bank Interest|1,677|0|1,677|2,703|0|2,703|
|Bonds|9,078|0|9,078|4,595|0|4,595|
|Other interest|306|0|306|448|0|448|
|Total|11,061|0|11,061|7,746|0|7,746|
|**INCOME TOTAL**|115,066|0|115,066|92,983|0|,,92,983|



## **Total** 

**Unrestricted    Endowment       2024                      Unrestricted    Endowment       2023** 

## **EXPENDITURE** 

|**3    Cost of generating funds -**<br>Investment Fees<br>Total<br>**Total Cost of Generating**<br>**Funds**|**Investment management costs**<br>0<br>11,863<br>11,863<br>0<br>11,509<br>11,509|
|---|---|
||0<br>11,863<br>11,863<br>0<br>11,509<br>11,509|
||**0**<br>**11,863**<br>**11,863**<br>**0**<br>**11,509**<br>**11,509**|



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Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2024 

## **EXPENDITURE** 

|**4    Grants**<br> <br>**Grants - Holistic Mission**<br>Karis Neighbour Scheme<br>Mount Merrion<br>Parish Nursing Ministries UK<br>Saltbox<br>SAT-7 UK<br>Willowfield Parish Community<br>Association<br>Total<br>**Grants - Public Sphere**<br>Christians in Politics<br>Faraday Institute for Science and<br>Religion<br>Theos<br>Total<br>**Grants - Training Leaders**<br>Centre for Theology &<br>Community<br>Langham Partnership<br>New Wine Ireland<br>Solomon Academic Trust<br>Wycliffe Bible Translators<br>Total<br> **Grants - Young People**<br>acet UK (esteem)<br>Innovista International<br>South West Youth Ministries<br>Sports Chaplaincy<br>Sutton Schools Work<br>Thrive Youth Ministries<br>Youthscape<br>Total<br>**Total Grants**<br>**5       Other Costs**<br>**Charitable Activities –**<br>**Support Costs**<br>Bank Charges<br>Consultancy<br>Office Costs<br>Staff Pay<br>Subscriptions<br>Travel<br>Website & Publicity<br>Total|**4    Grants**<br> <br>**Grants - Holistic Mission**<br>Karis Neighbour Scheme<br>Mount Merrion<br>Parish Nursing Ministries UK<br>Saltbox<br>SAT-7 UK<br>Willowfield Parish Community<br>Association<br>Total<br>**Grants - Public Sphere**<br>Christians in Politics<br>Faraday Institute for Science and<br>Religion<br>Theos<br>Total<br>**Grants - Training Leaders**<br>Centre for Theology &<br>Community<br>Langham Partnership<br>New Wine Ireland<br>Solomon Academic Trust<br>Wycliffe Bible Translators<br>Total<br> **Grants - Young People**<br>acet UK (esteem)<br>Innovista International<br>South West Youth Ministries<br>Sports Chaplaincy<br>Sutton Schools Work<br>Thrive Youth Ministries<br>Youthscape<br>Total<br>**Total Grants**<br>**5       Other Costs**<br>**Charitable Activities –**<br>**Support Costs**<br>Bank Charges<br>Consultancy<br>Office Costs<br>Staff Pay<br>Subscriptions<br>Travel<br>Website & Publicity<br>Total|**2024                         2023**<br>**Unrestricted**<br>**Unrestricted     Endowment          Total                   and total**<br> <br>12,000<br>0<br>12,000<br>12,000<br>0<br>0<br>0<br>7,500<br>10,000<br>0<br>10,000<br>10,000<br>7,500<br>0<br>7,500<br>7,500<br>10,000<br>0<br>10,000<br>10,000<br>10,000<br>0<br>10,000<br>0|
|---|---|---|
|||49,500<br>0<br>49,500<br>47,000|
|||10,000<br>0<br>10,000<br>10,000<br>11,000<br>0<br>11,000<br>11,000<br>11,414<br>0<br>11,414<br>11,414|
|||32,414<br>0<br>32,414<br>32,414|
|||7,500<br>0<br>7,500<br>7,500<br>0<br>0<br>0<br>0<br>5,000<br>0<br>5,000<br>5,000<br>10,000<br>0<br>10,000<br>0<br>0<br>0<br>0<br>5,000<br>22,500<br>0<br>22,500<br>17,500<br>10,000<br>0<br>10,000<br>10,000<br>6,000<br>0<br>6,000<br>6,000<br>10,000<br>0<br>10,000<br>10,000<br>5,000<br>0<br>5,000<br>0<br>6,000<br>0<br>6,000<br>6,000<br>6,000<br>0<br>6,000<br>8,000<br>10,000<br>0<br>10,000<br>10,000<br>53,000<br>0<br>53,000<br>50,000<br>**157,414**<br>**0**<br>**157,414**<br>**146,914**<br>60<br>0<br>60<br>63<br>0<br>0<br>0<br>4,808<br>378<br>0<br>378<br>290<br>9,461<br>0<br>9,461<br>7,710<br>280<br>0<br>280<br>283<br>42<br>0<br>42<br>0<br>195<br>0<br>195<br>327<br>10,416<br>0<br>10,416<br>13,481|
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Hinchley Charitable Trust Report of the Trustees and Accounts for the year ended 30 June 2024 

||**Unrestricted**|Endowment|2024 Total|2023|
|---|---|---|---|---|
|**Governance costs**|||||
|Independent Examination<br>Fees|1,900|0|1,900|2,756|
|Insurance|164|0|164|0|
|Trustee Travel|1,252|0|1,252|470|
|Trustee Meetings|391|0|391|460|
|Trustee Other Costs|96|0|96|0|
|Total|3,803|0|3,803|3,686|
|**Total Other Costs**|**14,219**|**0**|**14,219**|**17,167**|



**Activities Grant Funding Undertaken Support Costs Total of Activities Directly** 

|**6**<br>**Analysis of Expenditure on**<br>**Charitable Activities**<br>Grant Making<br>**7**<br>**Transfers**<br>Transfers between funds in<br>Transfers between funds out<br>Total|0<br>**157,414**<br>**14,219**<br>**171,633**<br>**Unrestricted**<br>**Endowment**<br>**Total**<br>**2023**<br>61,000<br>8,820<br>69,820<br>75,000<br>(8,820)<br>(61,000)<br>(69,820)<br>(75,000)<br>52,180<br>(52,180)<br>0<br>0|
|---|---|



## **8 Trustee Remuneration and Expenses** 

No trustee received any remuneration during the period. 6 trustees (2023: 5) were reimbursed expenses in the year totalling £1,523 (2023: £881). 

## **9 Key Management and employees** 

Key Management Personnel include the Trustees and Senior Management. The total employee benefits of HCT's Key Management Personnel were £9,461 (2023 £7,710). 

Gross pay: £9,373 Employer NI:                                                         £0 Employer Pension contribution £88 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 

## **10     Taxation** 

The charitable company is exempt from tax on its charitable activities. 

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## Hinchley Charitable Trust 

Report of the Trustees and Accounts for the year ended 30 June 2024 

## **11 Fixed asset investments** 

|**11**<br>**Fixed asset investments**|||||||
|---|---|---|---|---|---|---|
|**2024**<br>**£**<br> <br>**Quoted investments**<br>**At market value**<br>At 01 July 2023<br>3,699,470<br>Purchased at cost<br>876,931<br>Sale proceeds<br>(881,358)<br>Realised gain /loss on disposal<br>48,324<br>Unrealised gain on revaluation<br>290,213<br> At 30 June 2024<br>4,033,580<br>**Historical cost**<br>At 30 June 2024<br>3,291,669<br>**12.    Cash at bank and in hand**<br>CafBank General<br>34,748<br>CafBank Gold<br>11,317<br>Investment Manager cash<br>2,035<br>**Total for Cash at bank and in hand**<br>**48,100**<br>**13.   Debtors**<br>Amounts recoverable within 12 months<br>Interest Accruals<br>3,252<br>Loan to The Bridge<br>9,804<br>Total for Debtors<br>13,056<br>Amounts recoverable over 12 months<br>Loan The Bridge<br>127,654<br>**Total for Debtors**<br>**140,710**<br>The loan to The Bridge is an interest free loan with an expected repayment by monthly<br>instalments over 20 years from December 2021, although subject to a review after 5 years.<br>The loan has been made in furtherance of the charity’s purposes.<br>**14.   Creditors: Amounts falling due in one year**<br>Accruals<br>(2,300)<br>Other creditors<br>0<br>**Total for Creditors: Amounts falling due in one year**<br>**(2,300)**||||**2024**<br>**£**<br>3,699,470<br>876,931<br>(881,358)<br>48,324<br>290,213<br>4,033,580||**2023**<br>**£**<br>2,842,755<br>1,174,945<br>(339,662)<br>10,466<br>10,966<br>3,699,470<br>3,084,265<br>24,526<br>70,676<br>9,482|
|||||3,291,669<br>34,748<br>11,317<br>2,035|||
|||||**48,100**<br>3,252<br>9,804||**104,684**<br>1,360<br>9,240|
|||||13,056<br>127,654||10,600<br>137,740|
|||||||**148,340**<br>(2,500)<br>0|
||||**(2,300)**|||**(2,500)**|



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Hinchley Charitable Trust 

Report of the Trustees and Accounts for the year ended 30 June 2024 

## **15         Analysis of Net Assets between Funds** 

|**2024**|**Unrestricted**<br>**Endowment**<br>**Total**|
|---|---|
|Investments<br>Current Assets<br>Current Liabilities<br>**Total**<br>**2023**<br>Investments<br>Current assets<br>Current liabilities<br> **Total**|0<br>4,033,580<br>4,033,580<br>28,229<br>160,581<br>188,810<br>(2,300)<br>0<br>(2,300)<br>**25,929**<br>**4,194,161**<br>**4,220,090**<br>Unrestricted<br>Fund<br>Endowment<br>Total<br>0<br>3,699,470           3,699,470<br>32,816<br>220,208<br>253,024<br>(2,500) 0<br>(2,500)|
||**30,316**<br>**3,919,678**<br>**3,949,994**|



## **16  Summary of Fund movements** 

|<br> <br> <br>**2024**<br>General<br>Endowment<br>**Total**<br> <br>**2023**<br>General<br>Endowment<br>**Total**|**Fund**<br>**Fund**<br>**balances**<br>**balances**<br>**brought**<br>**carried**<br>**forward**<br>**Income Expenditure    Gains/Losses**<br>**Transfers**<br>**forward**<br>30,316<br>115,066<br>(171,633)<br>52,180<br>25,929<br>3,919,678<br>0<br>(11,863)<br>338,526<br>(52,180)<br>4,194,161<br>**3,949,994**<br>**115,066**<br>**(183,496)**<br>**338,526**<br>**0**<br>**4,220,090**<br>**Fund**<br>**Fund**<br>**balances**<br>**balances**<br>**brought**<br>**carried**<br>**forward       Income         Expenditure**<br>**Gains/Losses      Transfers                   forward**<br>26,414<br>92,983<br>(164,081)<br>0<br>75,000<br>30,316<br>3,984,753<br>0<br>(11,509)<br>21,434<br>(75,000)<br>3,919,678<br>**4,011,167**<br>**92,983**<br>**(175,590)**<br>**21,434**<br>**0**<br>**3,949,994**|
|---|---|



**General Fund** represents unrestricted funds. 

**Endowment Funds** are the original endowment plus accumulated capital gains.  The Endowment is expendable. 

## **17 Related Party Transactions** 

Sarah Smith was 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 

## **18         Pensions** 

A pension has been set up through NEST to provide a pension for the Trust’s member of staff.   The previous administrator chose not to join the scheme.  The current administrator has joined the scheme.  Contributions are 5% of gross pay for both employer and employee. 

## **19** . **Post Balance Sheet Events** 

None. 

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