HASLUCK CHARITABLE TRUST UNAUDITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 HASLUCK CHARITABLE TRUST CONTENTS Page Trust Information Trustees, Report Independent Examlner'8 Report Ststement of Financlal Actlvlties Balance Sheet Accounting Policies and Notes to the Flnancial Statements 7-12 HASLUCK CHARITABLE TRUST TRUST INFORMATION Trustees Matthew J8mes Wakefield John Philip Billing Mark Kennedy Wheeler Princlpal address Ralhbones Legal Setvices 8 Finsbury Circus London EC2M 7AZ Charlty Reglstratlon Numbgr 1115323 Legal Advi¥or Ralhbones Legal Services Limited 8 Finsbury Circus London EC2M 7AZ Independent Examlner Alastair Duke PKF Littlejohn LLP Chartered Accounlanls 15 Westferry Circus Canary ￿arf London E14 4HD Bankor Natwest 40 High Street Rochester Kent ME1 1LR Investment Advlser Investec Wealth & Investment Ltd 30 Gresham Street London EC2V 7QN HASLUCK CHARITABLE TRUST TRUSTEES. REPORT IntroductSon The TrLFStees have pleasure in presenting their Annual Report and the Financial Slalemenls of the Trust for the year ended 5 April 2Q23. The Trustees have adopted the provisions of Accounting and Reporting by Charitles.. Statement of Recomme4)ded Practice in preparing the annual report and financial statements of the charity. Hlgtory and Objects of the Charity The TTUStees hold both the capital and the income of the Trust Fund for the benefit of such exclusively charitable objects and purposes in any part of the world as the Twslees may, in their absolute discretion, think fit. The Trustees allocate halfthe income received lo eight charities, which are of particular interestto the settlor. The remaining monies are distributed lo such charitable bodies as the Trustees decide. Distributions ar8 generally made in January and July, although consideration is given to appeals received at other limes of the yeai. Only successful applicants are notified of the Trustees, decision. Cettain charities are supported annually, although no commitment is given. Publlc Beneflt The Trustees confirm that they have due regard lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trusts aims and objectives, and in planning future adivities and setting donations to be made in the following year. The Trustees support a number of charitable organisalions, as shown within note 4 to the financial statements. The Trustees believe all the donations made are for the benefit of the public. A¢hlevements and performance During the year. the Trustees have sU￿eeded in making 67 grants12022- 501 lolalling £153,00012022 - £111,000). The Trustees re501ved to support 59 individual charities (2021 421 in the year. All the grant payments weTe lo charitable in51itutions. The TrLsslees' current policy is to make regular payments to eight charities with which they have long established connections. Structure, governance and management The Trust was set up by an individual for the support of such charitable objects as the Trustees decide in accordance with the law of England and Wales. The Governing Document of the Trust is the Trust Deed dated 6 March 2006. The Trustees have power to appoint new Iruslees bul the total number shall not exceed three. At the Trustees, m881ings the Trustees agree the broad strategy for 9ranl making, investment. risk management policies. resetves and performance. Flnanclal revlew Total incoming resources were £218,637 {£160,321 in 2022). with £153,000 (£111,000 in 20221 being committed to charitable donations and £31.5261£24,107 in 20221 lo adminislralive expeTrses, resulting in net incoming resources before movements on investment assets of £34.111 {£25,214 in 20221 for the year. The investment portfolio fell by 7.60/0 In value over the year to 5 April 2023, as compared to the MSCI PIMFA Balanced TR Iformerly FTSE WMA Balanced Benchmark) whleh fell by 3.2 %. As al 5 April 2023 the Charity's portfolio was valued al £2,355,616 with gross annual Income of £71,847 or 3.050 The total movement of fltnds in the year also includes realised gains of £115.1641£166,809 in 20221 and unrealised losses based upon the maTkel value of investments held at the year-end of £290.465 {loss of £11,346 in 20221. HASLUCK CHARITABLE TRUST TrUSTEES' REPORT Reserves pollcy The Tru5tees' policy Is that the income generated from the Trusvs investmenls Is distributsd in full, together with half of any further sums added by the settlor. However, as all funds are pot8ntI811y available for dismbution, the Trustees do not feel that they need to m81ntsin a spedfic level of reseThes. Investment poll¢y The Trustees have the power to Invest In Such ass&ts 88 they see fiL The investment objecuve for the Charity is for a balance b8tsveen longer-term capilal growth as wo11 as th8 underlying investment income, wlth a medium risk profile. The Trustees would not wish any single investment to exceed 25% of Ihe portfollo, nor do they want more than 20% to be uninvested. In addition, the stockt)rokers have been instrucled not to make any direct inve$tsT￿t In companies ¢onnect8d with tobacco or the anns trade. Futsre plans The future plans of the ¢harily ar8 to maintain growth in the value of the fund at least In Ilne with the FTSE WMA Balanced Benchmark, and to make distributions to as ￿de a range of good cau8e8 a8 possibb. Rlsk management The Trustees have examlned th8 strateglc and operational Eisks which the Twst faces and corrflim the steps th8t 8re approprfats to th8 Trust have been takgTF to M￿gate th08e risk8. Statement of Trusteu, regponslbllltlos Thft Trustees are responsib￿ for preparfng thè Annual Report and th8 financlal ststements In 8ccord8nc with applicable lknf and regulations. Ch81ity legislation and related regulations preScrI￿the mannerin whlth th8 Trustses must prepare accounts for eath financial year. In the pi¶tion of Ihese accounts, the Trustees have agreed to accept re8ponslblllty to ensura that accounts are prepared in accordanrA wrth the oppllcaNe legislation and regulations. In discharglno their responslbilitses, lh6 Trustees have ensured thaL' Sultal￿e a¢¢ounting poli￿eS havo been selected and conslstsnlly ap￿led. any judgements and estimat88 mad8 are reasonable and wud8nl' the m8thods and princlple$ of th8 Charit￿, SORP, A￿Unting and Reportlng by Char1ts8s have been observed,. it 1$ stated whether appllcable United Kingdom Generalty Accepted Accountlng Practlce (Un￿1 langdom UK Accounting Standards and appllcable law) has b8en followwj, and any departures therefrom are disclosed and explained In the financial ststements,. and the ftnanclal Statements have been prepared on the going ￿nCeM ba$1$ unless it 18 inapproprtats to presume th8t the chaiity will continue In operatson. The Trustees are responslble for keeklng proper financlal records whlch dlsclose with rtrasonable accuracy. 8t any one tlme, the llnand81 posllon of the Trust and 8nables them to ensure that th8 financial statements comply with the Charllles Act 2011. TW are Tespon$lble for safeguardlng the assets of the Charity and hence for taklng reasonable steps for the prevention and detedlon of fraud and any other Irregularfles. By Order of th& Board of Trustees Matthew James Wakgflold Chaimian 2024 HASLUCK CHARITA8LE TRUST REPORT OF THE INDEPENDENT EXAMINER Independent Examiner's report to the Trustees of the Hasluek Charltable Trust I report to the charity trustees on my examination of the accounts of the charity ('the Trust") for the year ended 5 April 2023, which are sel out on pages 5 to 12. Respèctive responslbilities of trustees and èxamlner As the charity's trustees you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Charities Act 2011 {"Ihe Act i. I report in respect of my examination Df the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Chaiity Commission under section 145(5){bl of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examin8ts.on giving me cause to believe that in any material respect.. accounting records We￿ not kept in respect of the charity as required by section 130 of the Act., or the accounts do nol accord with those records., or 3. the accounts do not comply with the applicable requirements conceming the form and ¢onlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any iequirement that the accounts give a 'lrue and fair view, which is not a maller considered as part of an independenl examination. I have no con￿rnS and have come across no olheT matters in connection with the examinalon to which attention should be drawn in this report in order lo enable a proper understsnding of the accounts lo be reached. Alastair Duke, FCA For and on behalf of PKF Littlejohn LLP Chartered Accountants 15 Wesfferry Circus Canary Wharf London E14 4HD 27 February 2024 HASLUCK CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES For the year ended S Aprll 2023 Nots$ 2023 2022 In¢ome from: Donations Investment income B8nk interest income 146,757 71,516 364 103,616 56,704 21al 21b) Total In¢ome 218.637 160,321 Expendlture on.. Raising funds Charitable activities 31,526 153,000 24.107 111.000 Totsl Expendlturo 184,526 135,107 Net Ilosses)Igains on investment assets {175,301) 155,463 Net movement offunds (141,190) 180.677 Balance brought for•vard ot beglnning of year 2,699,898 2,419.221 Balance carrled forward at end of year 2.458,708 2,599,898 All funds held are unrestricted. The TTUSI had no gains and losses other Ihan those noted above. All income is d8rNed from continuing a¢￿VIlieS. The 8ccounting policies and notes on pages 7 10 12 form part of these Financial Statements. HASLUCK CHARITABLE TRUST BALANCE SHEET As at S April 2023 Note8 2023 2022 Flxod Assets Investments 2.355,616 2,549,920 Current Assets Debtory& Cash at bank and lft hand 34,439 71,659 34,904 2Q,732 106,098 55,636 Less: Current Llablllties Credltors.. amounts falling due ￿thIn one year 10 5,658 Net Current Assgts 103,092 49,978 Net Assets 2,458.708 2,599,898 Roprejentsd by: Unrastiicted funds 2.458,708 2,599,898 The Financial Statements were approved and authorised for issue by the Trsjstees on 2024. /¥trA Matthew Jarnes Wakefleld Trustee John Phlllp Bllllng Trustee The a￿oUntIng policifjs and notes on pages 7 10 12 fonn part of these Financial Statements. HASLUCK CHARITA8LE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2023 ACCOUNTING POLICIES General Inforrnatlon and basis of preparatlon The Hasluck Charitable Trust is a charity in the United Kingdom. The address of the registered office is given in the charity infomialion on page 1 of these finanoial statemen15. The rnature of the charity's operations and principal activities surrounds grant giving lo charitable organisalions. The charity constilules a public benefit entity as defined by FRS 102. The financial statements have been Prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Pf8CtiC8 applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102}, the Charities Act 2011, and UK Generally Accepted Practice as il applies from 1 January 2019. The accounts {financial 51atementsl have been prepAred lo glve a 'lrue and fair, view and have departed from the Charities (A¢counts and Reports) Regulations 2008 only to the extent required to provide a 'lrue and fair view.. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) father than the Accounting and Reporting by Charities.. Slatementof Recommended Practice effective from 1 Aprll 2005 which ha5 since been withdrawn. The financial statements are prepared on a going Goncern basis under the historical cost convention, modified to inGlude certain items at fair value. The finan¢lal statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these firsan¢ial statements are get out below. These policies have been consistently applied to all years presented unless otherwise stated. Voluntary Income All incoming resources aTe included in the Statement of Financial Activities {SOFAI when the charity is legally entitled lo the income, after any perfomiance conditions have been met, when th@ amount can be measured reliably and when it is probable that the income will be received. Income from donations Is recognised on receipt. unless there are conditions attached to the donation that requi￿ a level of perfomiance before entillemenl can be obtsined. In this case income is defe￿ed until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Invgstment Income Investment income is earned through holding assets for investment purposes such as shares. It includes dividends, reGognised when received and interest recognlsed on a receivable basis. Income from corporate bonds 15 accrued at the coupon rate. Rosources Expended Liabilities are recognised as resources expended as soon as there is a legal or conslrucbve obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified Ljnder the principal categories of Costs of Generating Funds and Charitable Activities rather than type of expense, in order to provide more useful information to users of tho Financial Statements, as follows.. The costs of generating funds consist of trust and Investment management fees and certain legal Costs of charitable activities comprise grants made to benef￿10r1e8. Grants payable are recognised a5 expenditure when the commitment is entered into. Where such a grant is to be paid in instalments, the oulslanding balance at the year-end Is disdosed as a liability. Governance including those related lo statutory independent examinatlon and legal fees, have been allocated to Costs of Generating Funds. HASLUCK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2023 Investments ACCOUNTING POLICIES {continued) All quoted investments are staled at market value. Unrealised and realised gains and losses on the investment portfolio are accounted for in the Statement of Financial Aclivilies. Forelgn Currency Translatlon Transactions in foreign currencies ale translated al the exchange rate ruling on the dale of the transaction. Monetary assets and liabilities in foreign currencies are translated into sterling at the rale of exchange at the balance she&t date. Funds The funds represented on the Balance Sheet are unrestricted funds, and can be used al Ihe Trustees, discretion for either capital or revenue purposes on any of the activities carried out by the Trust. Taxatlon The Trust is treated for tax purposes as a charity and is not liable to Income Tax on income d8rived from charitable activities. The Trust is rtrol registered for VAT. All expenditure amounts in the Statement of Financial Activities ISOFAI are shown inclusive of VAT, where relevant. Judgments and estlmates There are no 5ignificanljudgmenls oreslimales in the fi'nancial statements other than investments for which the policy has been disclosed Going concem The entity is considered to be a going concern as a SLJrplus has been made in the year and there are sufficient funds in place lo meet liabilitie5 for al least 12 months from the signing dale. 1. Donatlon¥ 2023 2022 Donations Tax refvnd under Gift Aid 126,676 20,081 82,893 20,723 146,757 103,616 2023 2022 2. Investment Income a) Income receivable on securities.. Quoted on recognised UK and overseas Stock Exchanges 71,516 56.704 bl Interest on UK cash deposits.. 364 HASLUCK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2023 2023 2022 3. Raising funds Adminislralion fees Investment management fees Governan￿ costs (note 51 9,918 18,712 2,896 10,260 10,951 2,896 31.526 24,107 2023 2022 4. Charltable actlvltles - grants to institutions Prlmary Beneflclarles., International Fund for Animal Welfare The Royal National Lifeboat Institution Barnardo's Scope Mrs R H Hotblack's Michelham Priory Endowment Fund The Riding for the Disabled Association Royal sO￿etY for the Protection of Birds Macmillan Cancer Support 9.375 9,375 9,375 9,375 9,375 9,375 9,375 9.375 7,250 7,250 7.250 7.250 7.250 7,250 7,250 7,250 other Beneflclarles: World Vision King's College Hospital Charity Trussell Trust Red Cross Ukraine Appeal Workaid Community Heartbeat Trust Child Autism UK Shropshire Youth Support Trust TEMWA EACP Disability Africa Interact Reading SeNice Stable Family Home Trust Living Painting5 Trust Grief Encounter Hope for Justice Mwezi Foundation Lepra The Harbour British Heart Foundation The Honeypot Children's Charity YWAF Future Trees Bea¢hy Head Chaplaincy Team The Death Penalty Project Fuel Bank Foundation Crackerjacks First Love Foundation Intemational Needs Pragya Exeler Scrapstore Enlelechy Arts Lennox Children's Cancer Fund Microloan Foundation Hypo Hounds Tender Chlldhood First 3,000 3,000 2,000 2,000 2.000 2,000 2,000 2,000 2,000 2,000 2.000 2,000 2,000 2,000 2,000 2,000 2.000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 2,000 2,000 1,000 Caffied forward 139,000 63,000 HASLUCK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended S April 2023 2023 4. Charitable actlvlties - grants to Institutlons l¢ontinuedl Broughl fO￿ard 2022 139.000 63.000 Other Beneflclarie5 Icontinued).. Transforming Autism Willow Trust Clear Sky Children's Foundation Helen & Douglas House Street Child Soulhmead Project Twinning Project Hospice of Sl Francis Sustainable Global Gardens Frank Water Assist Trust Histio UK Age UK Medway Over the Wall A Rocha The Wooden Spoon Charity Cruse Bereavement Umbrella Children's Leukaemia Society BuS1ies Out Safety Net {UK) Move Partnership Rural Coffee Caravan Independent Age SCT Ruskin Mill Trust Anti-slavery Group B Strep Support Railway Mission Heart Care Red Cross Just a Drop Wonder Foundation Chailey Heritage Foundation Hour Community Project Wingman Afrikids Engineering Development Twsl Medair Lucy Air Ambulance Communigrow Pintsize Theatre Company Maytree Respite Centre NMC Midlands The Mustard Tree 1.000 1.000 1,000 1.000 1.000 1,000 1,000 1.000 1 000 1,000 1,000 1,000 1,000 1.000 2,000 2,000 2,000 2,000 2.000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Total grants 153,000 111,OCrfJ 2023 2022 5. Govemance Costs Independent examinerfs fee 2,896 2,896 10 HASLUCK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended S April 2023 6. Trustees, Employees and Related Party Transactlons The Trustees were not remunerated nor reimbursed any expenses during the year. There were no employees of the Gharity in the year. M J Wakefield is a Director of Rathbones Legal SeNices. which provides professional servi￿S lo the Hasluck Charitable Trust. The fees incurred and paid during the year lotalled £9,91812022 - £10,260). No fees were outstanding al the year end. 7. Flxed Asset Investments 2023 2022 Markel value at beginning of year Additions Disposals Realised gains Unrealised Ilossesygains 2,466.484 2,357,866 447,199 384,936 {434,768) 1431,7811 115,164 166.809 {290,4651 {11,3461 Market value at end of year Cash held as part of investment portfollo 2,303.614 2,466,484 52,002 83,436 Investments at Valuatlon 2,356,616 2.549,920 Investments at hlstorlc cost 2,252,228 2,073,080 2032 2022 8. Debtors Glft Ald tax relief and tax recoverable Investec Wealth & Investment acc¢Junt 20,082 14,357 20,723 14,181 34,439 34,904 2023 2022 9. Cash at Bank Natwest current account Rathbones Client account 32,528 39,131 18.623 2,109 71.659 20.732 11 HASLUCK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended S April 2023 10. Creditors: amounts falllng due within one year Accruals Creditors 2023 2022 3,006 2,898 2,760 5,658 11. Fund re¢oncillatlon Fund reconclllatlon for year •nded 6 Aprll 2022 Balance al 6 April 2022 Balan(* at 5 April 2023 Income Expenditure Losses Unrestricted 2,599,898 218,637 (184,526) (175,3011 2,458.708 Total Funds 2.599,898 218,637 1184,526) 1175.301) 2,468,708 Fund r￿on¢l[latIon for year ended S Aprll 2022 Balance at 6 April 2021 Balance at 5 April 2022 Income Expenditure Gains Unrestricted 2.419,221 160,321 135.107 155,463 2,599,898 Total Funds 2,419,221 160,321 136.107 156,463 2,599,898 12