TRUST Supporting Our Community THE HARPENDEN TRUST Company number 05951591 Charity number 1118870 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 LEGAL AND ADMINISTRATIVE INFORMATION Com an Re istered in En land and Wales COMPANY NUMBER . 05951591 CHARITY NUMBER . 1118870 Princi al Office istered Office 90 Southdown Road, Harpenden. Hertfordshire, AL5 IPS Website Address ￿￿W.thehar endentrust.or Inde ndent Auditors Miller & Co Chartered Accountants and Statutory Auditor5 5 Imperial Court Laporte Way Luton Bedfordshire LU4 8FE Princi al Bankers Barclays Bank PLC, Lockey House, St Peters Street, St Albans, ALI 3LP Investment Mana Rathbones 8 Finsbury Circus, London. EC2M 7AZ ers Contents Legal and Administrative Information Chairfs Statement 6-19 Report of the Direttors 20-21 Organisation Chart 22-23 Independent Auditors, Report 24-25 Statement of Financial Activities 26 Balance Sheet 27 Statement of Cash Flows 28-36 Notes forming part of the financial statements THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 CHAIR'S STATEMENT This has been another signiticant year in the continued development of the Harpenden Trust. Our purpose . Supporting our local community For over 75 years now, the Harpenden Trust has remained steadfast in its core purpose- supporting our local community. We are committed to being a reliable source of assistance for anyone in our Harpenden community who requires help - regardless of their age or background. Often, a small amoLAnt of local practical support can make an immense difference. The underlying principle that guides us is simple- to be good neighbours. To local people, we offer readily accessible, practical support - whether through our range of core services and activities or by directing them to relevant local experhse forthe support or advice they need. Meeting local challenges Our Care Fund and Community Fund play pivotal roles in supporting individuals and local organizations in various ways. The Care Fund, fuelled by the annual Christmas Appeal, generous legacies, and dedicated volunteers, maintains its Home Visits program, providing essential support to those seeking assistance. Additionally, we host popular weekly Tea and Coffee mornings on Tuesdays and Thursdays, organise Seniors, Outings, Family Outings, and deliver Christmas Parcels to 140 residents, spreading festive cheer. We also offer grants to those facing financial hardship, assisting with ulilities payments and educational expenses, and provide transportation to Trust events. The popular annual Seniors Fair event continues to offer local ￿SIdentS an insight into and visibility of groups and organisations across our vibrant local community. The Care Fund's impact continues to grow as awareness of our services spread5. Ou r more recent Wellbeing initiative, an increasingly significant part of the Care Fund, has evolved rapidly. Our partnership with local GP surgeries and Mind in Mid Herts was the genesis of the"Harpenden Wellbeing Hub," now visible throughout the town. Through a variety of partnerships and activities we seek to provide a rich array of activity to enhance local residents, wellbeing. We're making a tangible difference: from the Frazzled Café (offering a confidential space for those overwhelmed by modern lifel to the Memory Lane Café (welcoming people living with dementia and their caregivers) and the Arts on Prescription program Ileveraging the arts for health and wellbeing), to the Ribbon Cancer Support Group lin partnership with Macmillan Cancer Support), to PD Buddies lin partnership with Parkinson's UK) to the Compassionate Café lin partnership with Rennie Grove Peace), to the Intergenerational Choir, to launching a pilot group with Youth Talk (providing free confidential counselling to local 13-25 year olds). We continue to explore new ventures, including coaching sessions to empower individuals to move forward. All this activity is in addition to our longstanding Befriending service providing companionship to approaching 100 local residents. The Community Fund, drawing from reserves established Since 2008 through the Abbeyfield endowment, continues its impactFul work. Notably, we've supported outdoor facilities across many Harpenden schools, assisted with repairs to community halls, contributed to You ng Enterprise initiatives, provided assistance and equipment to Ha rpenden Rovers Youth FC and also local wildlife santtuaries, all reinforcing our commitment to the local communitv. THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 We also continue to partner with the Harpenden Library to keep it open on Wednesday afternoons - a warm, judgement-free space for learningi reading, and accessing information. Responding to wider community needs, we're also excited at the acquisition of a new 16-seater Harpenden Trust Community Minibus. This valuable resou rce will be available to local Harpenden community groups whether schools, societies, 5POrts teams, churches, or other organizations - providing greater flexibility to enhance their services for local residents. And into 2024 we have exciting collaborations developing with Citizens Advice and the Harpenden Film Society to name but two. Detemiined to do more.. Our community halls A very visible development over the last year has been the enhancement of our buildings and community spaces. At No.90 Southdown Road, behind the distinctive purple doors, our halls have always been abuzz with atttvityi as hirer5 offer an impressive array of activities, clubs, and classes to our residents. Recognising the vital role such spaces play in community life, we were thrilled to announce the acquisition of the Methodist Church Halls, lease in Southdown back in January 2023. This strategic move ensured that this valuable community resource remained accessible to Harpenden residents for years to come. By combining the Southdown Halls (located above the Co-op store at No. 130a Southdown Road) with our existing Harpenden Trust Centre lat No.90 Southdown Roadl, the Trust now boasts a total of six spacious halls and meeting rooms available for hire, ranging from 300 sq.ft. to 1,270 sq.ft. Beyond meeting immediate demand, this expanded space has also provided the Trust with room for our existing community initiatives and future endeavours. Today our halls have never been busier.. we currently have 42 regular local hirers (running 67 classes per weekl, 10 regular community based hirers, and we have also held 60 parties over the last year together with 12 ad-hoc hirers, events. In June 2023, the"Well Bean Community Cafe" opened its doors. Every weekday morning, staffed by dedicated Trust volunteers, we offer a welcoming spot for residents to gather, connect, and enjoy refreshments all provided without any financial obligation, being available to all on a donations only basis. We've also allocated space, alongside our café, free of charge to other local charities, fostering collaboration and community spirit. As our extensive refurbishment program nears its completion, we eagerly anticipate unveiling even more initiatives and welcoming everyone to our expanded facilities. A heartfelt"Thank You" to our Volunteers To all our Volunteers, Funders, and Supporters. Once again, in yet another year, we have witnessed an incredible team effort. The Harpenden Trust, as a voluntary organisation, owes its success to your unwavering dedication. Your generosity- both in time and experience- has been the cornerstone of all our achievements. Without the kindness and selflessnes5 of our many volunteers - over 500 local individuals this past year - the Trust simply could not fulfil its mission. Together, we form a collective team, and I hope that being part of the Trust is equally rewarding for each of you. The positive impact we've seen in the lives of so many local people is truly heartwarming. Sometimes, mere words fall short. Yet, in my annual Chairman's Statement, I want to formally express my gratitude to everyone who has contributed. Each person has played a vital role: THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Main Trust Board Colleagues: Your commitment drives our vision forward- Care Fund and Community Fund Committees and Team Leaders: Your dedication ensures our programs thrive; Trust Office Staff: Your daily support keeps everything running smoothly; Care Fund Home Visitors: Your anonymous yet essential work touches lives; Harpenden Wellbeing Hub volunteers: Your contribution enhances the wellbeing of our local community: Our befrienders and Well Bean Café baristas- Your kindness brightens the day5 of local residents: Library Volunteers, Outings organisers, Minibus & Transport Teams: Your contributions benefit so many local people and groups; Property and Facilities Teams- Your work expands our footprint and services; Christmas Appeal Team: Your fundraising sustains our Care Fund: Audit, Risk, and Governance Committee= Your oversight ensures our integrity; Investment Committee= Your expertise secures our financial foundations- External Affairs Team: Your outreach spreads awareness; . and to all our othervolunteers-withoutyourtime and expertise, theTrust would not be capable of making the difference that is does. And an additional thank you to the residents of Harpenden, whose generosity during our Christmas Appeal this last year- ￿lsing over £55,000- speaks volumes for the support of the Trust's work. Personally, it has been an immense privilege to continue to work alongside such wonderful local people, supporting our Harpenden communÉty. To all of you, thank you for your extraordinary kindness, yourtime, and the friendships we've built. The Harpenden Trust continues to uphold its founding principles: "We're here to help." With heartfelt appreciation. Richard Nichols Chair THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 DIRECTORS, REPORT The Directors of the charitable company, who are also its Trustees for the purposes of charity law, present their report and the audited financial statements of the charity for the year ended 31st March 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice {SORP} "Accounting and Reporting by Charities" in preparing the annual report and fina ncial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes tothe accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland published in October 2019. FORMATION AND INCORPORATION The Harpenden Trust I'the Trust") was founded in 1948, coinciding with the creation of the National Health Service. Despite the introduttion of the "cradle to grave" welfare state, some residents in Harpenden at the time felt that there would always be a need to take care of people who fell through the net. It was this group that formed the original Harpenden Trust. Today the activities of the Trust are managed though a Company, limited by Guarantee, which was incorporated on 29th September 2006 with registration number 5951591. It is governed like all companies by its Memorandum and Articles of Association. On 1st June 2007 the assets of the Harpenden Trust, Charity Number 212973 (the "FormerTrust"I, were transferred to the Company and the FormerTrust ceased to exist. Those assets now constitute the Care Fund. On 17th April 2008 the Abbeyfield (Harpendenl Society Limited transferred all its assets to the Trust and these assets now constitute the Commu nity Fund. STRATEGIC DIRECTION The Trust has four charitable purposes, as formally set out within the Company's Memorandum and Articles of Association: the promotion of volunteering in the community of Harpenden; the promotion of civic responsibility and good citizenship amongst the youth of Harpenden; the relief of residents of Harpenden either individually or collectively who are in need by reason of their youth, age, ill-health, disabilityi financial hardship or other socia l and economic disadvantage bv- the provision of grants of money; the provision of items,. o the payment for, andlor provision of service5; other such mean5 as will address their needs,. and to promote for the benefit of the residents of Harpenden the provision of facilities for recreation or other leisure-time occupation of individuals who have the need for such facilities by reason of their youth, age, ill-health, disability, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the life of the said residents. THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Board has resolved that all references to "Harpenden" mean the postal district of Harpenden and its immediate surroundings. SUPPORTING THE COMMUNITY The story of the Harpenden Trust since inception has been one of good neighbourliness. Harpenden as a town has, within its community. both the needy and the well off. "One could help the otherf, was at the heart of our founding principles, and "Funded by Harpenden people, managed by Harpenden people to benefit Harpenden people" continues to be our mantra. THE ACTIVITIES OF THE TRUST The main activities of the Trust which form the strategy for the Trust to achieve its charitable purposes continue to span three core areas: The Care Fund, The Community Fund and Community Halls. The Care Fund During the last year, the Harpenden Trust Care Fund has continued to offer support for individuals and families within Harpenden, The work of the Care Fund covers both financial and emotional support. The work of the Care Fund relies heavily on the money raised by the Harpenden Trust Annual Appeal and the Care Fund is gratefu I to the Fundraising team for once again raising a substantial amount of money for this work. At the core of the Care Fund attivities is the Home Visits initiative. Ou r home visitors meet clients either in person or on the telephone and help those in need by arranging confidential help. They arrange financial help for utility bills and provide clothing a nd food vouchers. Ou r Home Visitors also organize the provision of items of furniture and white goods for clients who find themselves with little or no furniture or basic appliances. Home Visits continue to receive over 45 calls a month for our help. We have carried out over 600 visits in last 12 months, asslsting with aspects such as food costs, school uniform and essential appliances. Supporting young people, we have awarded 48 grants this financial year for e55ential educational trips & courses. We have also been able to help some of our Home Visits families with an outing to a theme park in the summer. We continue to help and support our senior residents. The Trust has also been able to provide those who might be lonely or housebound over Christmas with a Christmas hamper. Last Christmas we were able to deliver Christmas hampers to 140 clients across Harpenden. We have also 5UPPOrted 68 seniors on a low pension by the provision of a utilities grant of £400 each. This grant ha5 been invaluable in helping pensioners with their utility bills especially during this cost of living crisis. We have run nine Seniors outings this year with a tota5 of 224 senior clients taking part in these outinBs. Both Senior Coffee Mornings {Tuesday at The Trust Centre and Thursday at the Salvation Army) are continuing to be very popular with 30-40 guests attending weekly at each location. Ourtransport team, now 28 drivers, has been instrumental in boosting attendance at many Trust senior and wellbeing events and classes, assisting with bringing clients who might otherwise struggle to attend. The Seniors Fair last April was a great opportunity for seniors in Harpenden to attend the event in the Eric Morecambe Centre. The Fair brought together over 30 charities and businesses providing services to senior people and was attended by over 300 Harpenden residents. THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Care Fund- Wellbeing The Befriending and Wellbeing initiatives are now grouped under the heading 'Wellbeing' within the Care Fund. Our Befriending section has seen a dramatic increase in clients over the past few years and we now have over 100 befriending clients. We offer befriending to older, isolated, or housebound residents and our clients receive regular visits from a befriender which may take the form of meeting at the client's home or, for example, enjoying a walk together. We are working in partnership with the Harpenden Health Primary Care Network IPCNI and Mind in Mid Herts, to support better wellbeing across the town for all age groups through the Harpenden Wellbeing Hub. We now provide volunteer wellbeing friends to support the PCN'S social prescribers in supporting referred patients to engage with social activities and are currently su pporting 45 clients. We continue to fund 12 hours a week of Mind in Mid Herts Outreach support with 100 referrals helped in the last 12 month5. This year we have an additional 8 hour5 a week of a second Outreach worker for a year long men's mental health project in partnership with the St Albans and District Foodbank. We have brought specialised initiatives to Harpenden so that residents can receive support on their doorstep. Frazzled Café was the first of these and continues to thrive. Through Partnerships we have added specialist Parkinson's exercise classes with Parkinson's UK and Everyone Active, and a Compassionate Café for those who have experience loss, with Rennie Grove Peace Hospice. We also partner with other groups: Memory Lane Café for those living with dementia is funded by the Trust and run with theTown Council and Salvation Army; and this yearstarted a dementia friendly Intergenerational Choir where residents of all ages sing with year 10 pupils from Sir John Lawes School. Arts on Prescription is funded by the Trust and hosted by Everyone Active at the Eric Morecambe Centre. Our Harpenden Library partnership and initiative, with Trust volunteers running a Library Express seNice on Wednesday afternoons, also forms part of the Wellbeing Hub as the library is a welcoming place for people who value the companionship of other library users and find the surrounding soothing or simply enjoy a good reading experience. Our community café, the Well Bean Café, within the newly refurbished Harpenden Trust Halls in Southdown enables our wellbeing and befriending clients to meet up with their wellbeing friends and bef rienders in a welcoming community space during opening hours. Those more anxious or isolated are invited to our twice monthly Chatting Café with transport provided if needed. THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Community Fund The Harpenden Trust Community Fund provides support for community schemes and projects in the Harpenden area from a substantial capital donation received in 2008 from the Abbeyfield (Harpendenl Society Limited. Since that time, it has made over 240 grants to local organisations- from schools, youth and sports clubs- to choirs, churches and charities - in support of their projects. We are proud to say we have provided over £1. I million in grants to local community projects since 2008. The Community Fund looks to make grants on condition that these are for defined projetts or specific purposes, rather than funding regular operating costs, although it considers all applications and can help cover temporary funding gaps that can arise in austere times. As always, to decide between different applications can be a challenging task, but the Com munity Fund sets out to support Specific projects which will benefit all sectors of the community,. young, old, disabled, sporting, educational. 202312024 has seen a continued demand for grants provided by the Community Fund. Although grants have not reached the record figures seen in the previous year, it has been a privilege to help support a wide range of projects that have benefited the residents of Harpenden across all age groups. Continuing sUPPOrt is being provided to local schoo15. A new library and a sensory garden have been opened at Harpenden Academy. We have enabled Wood End Primary School to fill their new library with books. The Fund has also supported a Pupil Wellbeing Hub in Lea School and a Sensory Garden at Sauncey Wood Primary School. Our contribution to the Harpenden Lions Life Skills Programme has assisted pupils, this year at Roundwood Park, Crabtree Junior, and lea Primary. We have also supported Harpenden schools to participate in the Young Enterprise project where students start and run their own businesses. This is a national programme and Roundwood School have won the local area competition and will progress to the regional final. Supporting projects that seek to improve mental health continues to be a high priority. The Community Fund together with Harpenden Town Council have provided money for a sensory projector. We are very pleased that this is used in the Memory Lane Café, and by Willow Court Care Home, and is available for use by people living with dementia right across Harpenden. Funding has also been provided to support continuing growth in visitors at the Hornbeam Hedgehog Sanctuary, and for repairs to the halls for both the Harpenden and Redbourn Girl Guides and St Johns Church. Continued support has been provided to Harpenden Rovers Youth Football Club, now with over 200 children regularly playing. Funding has been granted towards the purchase of new gymnastic equipment at the Harpenden Leisure Centre, to allow more deprived children and families to have access to the facilities. Lastly the Fund has contributed towards the purchase of land on Kinsbourne Green Common on behalf of the local community, to retain access for local residents of Harpenden. THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR ENDED 31 MARCH 2024 Community Halls Following the refurbishment the Harpenden Trust Halls provide the following community spaces: Abbeyfield Hall - 1,270 sq. ft. with a capacity of 110 people seated Itheatre style) or 200 people standing Gibbons Hall - 1,100 sq. ft. with a capacity of 100 seated (theatre style) or 175 standing Charles Hill Lounge- 380 5q. ft. with a capacity of 20 seated {low comfy seating) Meeting Room- 300 sq. ft. with a capacity for 18 seated112 boardroom + 6 comfy) Community Café- 300 sq. ft. with a capacity for 22 seated In addition to the Harpenden Trust Halls, we continue to hire out the existing Harpenden Trust Centre at No. 90 Southdown Road. The Centre comprises: Renwick Hall - 1,080 sq. ft. with a capacity of 80 seated or 130 standing, Randall Room - 500 sq. ft. with a capacity of 45 seated or 70 standing. Since the Harpenden Trust took over the old Southdown Methodist Halls last year a comprehensive programme of works has taken place to make the Halls an exciting new community facilityforthe residents of Harpenden. The halls had been allowed to deteriorate significantly and there was a lot of work required to bring the property up to current safety requirements, improve the overall environment to make it attractive to new hirers and visitors alike. Once a list of works had been identified by the property committee a capital expenditure budget was agreed to cover the works. Listed below are the main projects that have been undertaken since January 2023, some of these works could be considered of a maintenance nature, others were for property enhancement.. Redecoration - The internal decoration was of very poor condition and had not been painted for a longtime. The works commenced with spraying the ceilings and then carried on with decorating both the halls and other spaces. Disabled toilet- The existing disabled toilet was located on the far side of the building and in a poor condition. A new space between the existing Male and Female toilets was created and a new disabled toilet installed. Well Bean Community Café- The forming of the Well Bean Café was seen as an important part of what the Trust wanted to offer the community, The decision was taken to replace the existing tired kitchen area with a purpose-built cafe kitchen and seating area which was opened in June. Central heating upgrade- The existing boiler was the original from when the halls were built in the 80's and long overdue for rep5acement as no spares were available in the event of breakdown. In the summer of 2023, the two boilers were replaced for one new modern boiler and all the radiators renewed as a number were showing signs of significant corrosion. The new system performed well through the last winter and the team are monitoring the efficiency of the new system. Fire alarm and lighting improvements- The existing lighting has been overhauled to incorporate new LED lights, automatic control and the emergency lights replaced if defective. When we took over the building the fire alarm system was very unreliable and constantly creating false alarms. Since then, a lot of work has been carried out to improve the system which is now working well. Fire stopping- The fire safety report had identified that there wa5 existing steelwork that need fireproofing to protect the steel in the plant room and Co-op escape corridor. This has now all been installed. io THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 New Corridor- It had been identified early on that potential new hirers were not happy with the fire escape route through the Abbeyfield Hall and it needed a corridor to separate the space. As this was a fire escape it needed to comply with building regulations. The new corridor was completed last summer. Door entry system- The two means of access into the building makes it difficult to control access into the building and it was agreed a door entry system using pin numbers assigned to users would make the building more secure. This went live in April 2024 Acoustic Improvements to Abbeyfield and Gibbons Halls- Discussions with new hirers highlighted that the acoustics in the Abbeyfield Hall made it very difficu It to teach classes as the reverberation time was too high. As a result, acoustic panels have been fitted to the two main halls and café area. The improvements have been welcomed by hirers. ccrv- A CCTV system has been installed to both of the Trust's properties to give greater security and peace of mind to hirers. To allow this to be introduced a CCTV policy has been produced and sent to all hirer5. The system went live in April 2024 There are still further works planned for both properties during 2024.. Redecoration of No 90 internally and externally Refurbishment of the office to 90 Replacement of the existing Velux windows to 130a Refurbishment of the toilets to 130a When we took over the Trust Halls in January 2023 we inherited 9 regular hirers from the Methodist Church, we currently have 24- 11 of these are new hirers- 4 are running classes at both venues and I has moved from the Trust Centre. Across both venues, The Harpenden Trust currently has 42 external hirers. These include those providing classes for children: Dance, Theatre, Girl Guiding, Martial Arts, Expedition Club and Science. The Adult classes include Education groups, Exercise and Dance, Bridge club, German Language group, Marquetry, Martial Arts and Sewing. We are also delighted to provide hall space for our Wellbeing partners, enabling them to expand their good work further into the community. Computer Friendly run a regular Drop-ln at the Trust Centre, once again making help more accessible for the local area. We continue to hire out our halls for one-off activities such as Children's parties, Charity events, Art exhibitions, AGMS and as a Polling station. Community Halls - Well Bean Community Café The refectory space in the newly acquired Harpenden Trust Halls has been redeveloped to create a community café. Named the Well Bean Café, this café is donation only and run by a team of vo5unteers from the Harpenden Trust. The Well Bean Café opened its doors in June 2023, creating a community meeting place for all. In particu lar, clients and friends f rom the Wellbeing grou p use this welcoming space to meet up for a chat over coffee, tea and cakes. The newly refurbished space also include5 a gallery wall to display the work of local artists and students. li THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR ENDED 31 MARCH 2024 VOLUNTEER5 The Trust operates almost exclusively on a volunteer basis and is most fortunate to have had the services of approximately 500 unpaid volunteers during the course of the year, The Trust would not function without the generosity of time donated by so many dedicated local people. To put this into some perspective, without the enthusiasm, drive, professionalism and commitment of all the Trust's volunteers, the Trust would not have: been able to respond to over 600 calls for Home visits, including over 50 new clients and so enabled families to be assisted by f inancial and other means; ensured that 68 people received £400 each to help with their utility bills; enabled 140 residents to receive Christmas parcels; provided befriending service for nearly 100 residents; delivered c.10,000 Christmas Appeal envelopes in 354 roads, received over 2,200 donations involving 240 Area Organisers, collectors and volunteers counting and recording the collections; helped with the provision of wheelchairs on short term loan for 32 residents. organised a family outing for 42 home visits clients with children; orEanised 9 outings and tea parties for 224 senior residents; launched the Harpenden Wellbeing Hub in partnership with the Harpenden PCN for over 100 residents; assisted 48 pupils with school trips and courses. Whilst remainingtrue to our principles of supporting the residents of Harpenden, we continue to broaden and widen the areas of support work that we are setbng up and becoming involved in. As a result, our database of volunteers continues to broaden and widen too. We are very grateful for the skills and expertise that many of our volunteer5 bring. Over the past year the acquisition of our new premises Ino. 130a Southdown Road) has meant that we have seen a considerable increase in the numbers and the skill sets of volunteers recruited across the Trust. Alongside expansion in many of our existing areas of work, including Befriending, Wellbeing, Driving, Blue Badges and Events, the new premises has needed a management structure to function efficiently, as well as providing the opportunity for a welcoming and perfect meeting place for several new Wellbeing Support groups to be established. Our Ribbon Cancer Support Group, PD (Parkinson'sl Buddies and the Compassionate Café were all set up during last year, each one in partnership with a local or national organisation. They are all now running very successfully at no.130a with Trust volunteers. A Men's Projett support group is in the initial stages of set up. Our very successful Well Bean Café, a donation only Community Café, which opened in June 2023 at no.130a, has 30 volunteers trained and ably running the cafe on weekday mornings, welcoming and chatting with the many visitors, clients and volunteers that call in. Planning ahead for the arrival of the Trust minibus also meant a further need for volunteers to both head up the team and to drive the minibus. This is now all in place whilst we still await its arrival. 12 THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees would like to thank every one of the Trust'5 volunteers who give so generously of their time and skills. Their enthusiasm and dedication is much a ppreciated by everyone. Whilst it would be difficult to list all the volunteers in the Directors, Report, the organisation chart on paEe5 20-21 shows the Trust's organisation structure, role and responsibilities of the Board and Committee Chairs and members, individual team managers and leaders and their respective team members and we would like to thank them all formally for their valuable contribution to the Trust. In addition to all the Trust's unpaid volunteers, Paddy Jones continued throughout the year as Trust Administrator and Grant Hollier, our caretaker (trading as Harpenden Cleaning) and George N ikoloff provided cleaning and maintenance service5 to our Community Halls. The Trustees would also like to express their condolences to the families of two volunteers who sadly passed away during the year. Their contribution to the Trust was greatly appreciated. Well Bean Café: Geoff May Minibus team: Rick Hewet50n EXTERNAL AFFAIRS With the objective of supporknng all the Trust's activities, the External Affairs Committee was established by the Board at the start of 2019 and now meets quarterly. The Committee's overall objectives are to advise the Board and build overall awareness and knowledge of the Trust's presence and activities across the local community. It seeks to SUPPOrt both the Care Fund and Community Fund as requested,. enhance the overall levels of communication with volunteers, members, and local residents,. as well as managing the Trust's website and Social media presence. We undertake the publication of a bi-annual Newsletter, published online on our website and with hard copies also available from our Southdown offices, which has been incredibly well received. This all assists the Trust in becoming more visible to those in need, which in turn assists us in identifying where needs are emerging across our community. Our external communications activities also assist us in attracting new volunteers to support our work and also in our ability to raise additional funds to support these activities. FINANCIAL REVIEW AND NET ASSETS The Directors are pleased to report that the total net assets of the Harpenden Trust as at 31 March 2024 amounted to £6,875,542. This largely comprised the investment portfolio that has been successfully built up over recent years. Further details on investments can be found in Note 12 of the financial statements. The Harpenden Trust's investment assets totalled £5,023,540 at the financial year-end. During the last financial year, the Trust generated income of £358,854 principally comprising dividend and interest payments from the investment portfolio, the proceeds from the annual Christmas Appeal, various other donations and income generated from the hire of the Trust building in Southdown. The total expenditure of the Trust in the last financial year amounted to some £449,568, as the Care Fund and Community Fund continued to provide financial support to individuals and community projects in the Harpenden area. Overall, the Trust therefore reported a net deficit of £90,714 in the current year. There are no material uncertainties about the Trust's ability to continue as a going concern. 13 THE HARPENDEN TRUST TRUSTEES. ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR ENDED 31 MARCH 2024 SOURCES OF INCOME The Trusys main sources of income remain largely unchanged from prioryears. The Trust's financial reserves have been built up over 75 years. It is the income from these investments that continues to underpin all our activities. The Care Fund also benefits from other varied sources of income, the largest element usually being from the Annual Christmas Appeal, which in December 2023 once again exceeded all our expectations at £55,541 including tax reclaimed on gift-aided donations. We again express our heartfelt thanks to the residents of Harpenden for their continuing generosity and to the 240 organisers and collectors who covered 354 roads across the AL5 postcode. A further key source of income, which regularly enable5 US to cover the shortfall between our budgeted expenditure and our investment and appeal income, comprises legacies and donations. Our sincerest thanks are extended to all those who made these contributions. The Trust also continues to be nominated by families to receive donations in lieu of flowers on the death of a loved one. Several people have arranged a monthly standing order in favour of the Trust. All such activitie5 and donations continue to be highly appreciated. The Trust continues to maintain an online presence to receive ad-hoc donations. Full details on how to donate via our"CAF Donate (Charities Aid Foundation)" page, orto set up 3 standing order, make a donation or leave money to the Trust in a will, can all be found by clicking on the relevant section on the Trust's web51te. Within the Trust itself, each year the Care Fund can apply for additional funding from the Community Fund to augment its income and it is very clear that if this facility were not available, the Care Fund could be at risk of having to cu rtail activities considerably at a time when there could be increasing demands on the Trust. FUNDRAISING As a means of reinforcing our professional approach to fund raising attivityi the Trust is voluntarily registered with the Fundraising Regulator, notwithstanding that the Trust's annual expenditure on fundraising is significantly below the compulsory registration threshold. The Trust's principal fundraising activity is the annual Christmas Appeal, involving a door-to-door collection throughout Harpenden. The Trust has a team of 240 willing and able unpaid volunteer area organisers and collectors who perform this vital role, which means it does not employ any professional fundraisers. The Trust supports its volunteers with health and safety advice as well as instructions on how to condutt their roles. The Trust continues to follow best practice in accordance with the Fundraising Regulatorfs standards. The Trust has a robust complaints process, with information on its website about how to make a complaint. Last year the Trust received no complaints, but it is not complacent and welcomes all feedback. INVESTMENT The Board is empowered to invest in any assets as they shall in their absolute discretion think fit and investments have been made prudently in accordance with these powers. The Board, advised by the Investment Committee, delegates its investment function to an external Investment Manager under a discretionary mandate. The current Investment Manager is Rathbone Investment Management Ltd. Rathbones can invest in regulated markets on behalf of the Trust in accordance with the Trust's Investment and Asset Allocation policies. These policies, reflecting the Trust's investment beliefs and philosophies, are reviewed at least annually or whenever there are major changes to Investment Regulations and the markets. 14 THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Investment Manager and the portfolio performance are monitored by the Investment Committee and performance results are reported to the Board regularly. The Directors look for a diversified portfolio of investments to generate a sustainable risk adjusted return and to provide growth and income for the long term. Investment in financial markets is inherently su bject to risk, there can be no reward without some level of risk. The Trust mitigates and manages these risks by setting restrictions and limits on various aspects of the investment undertaken and the portfolio composition, including investment concentration, avoiding unnecessary currency risks, ensuring sufficient liquidity to avoid cashflow problems etc. I nvestment diversification across asset classes and geographical regions is used as a risk mitigation tool to avoid an 'all eggs in one basket" 51tuation. The Board has delegated environmental, social, governance and voting decisions to the Investment Manager. The Harpenden Trust Investment Portfolio enjoyed a better financial year in 202312024 than the year before; calendar 2022 going down as one of the most difficult periods for balanced portfolios on record. This resulted from a combination of poor returns f rom both equities and (supposedly safer) fixed interest, as interest rates were increased almost everywhere to combat the re-emergence of inflation. For the first half of the current financial year, Central Bankers remained fully focused on tackling inflation, but by October /Novem ber there were encouraging signs of the headline numbers peaking and heading back down. This allowed a strong run for both fixed interest securities, like UK Government Gilts, and equities, led once more by giant US Technologv companies, into the financial year end. In some respects, therefore, a game of two halves, the upshot of which, adjusting for cash withdrawn during the period, wa5 an increase in the portfolio valuation over the financial year of c.Il%. The inflation genie has not definitively been put back in the bottle, particularly in the U5 where the economy is still running 'too hov, forcing the US central ba nk to play a waiting game. In contrast, there is a higher likelihood that the European Central Ban k and the Bank of England can start cutting rates as soon as June. The outlook remains highly uncertain. A record year for elections globally, adding to elevated geopolitical risks, on top of all the usual cyclical and structural actors that investors need to contend with. The best defence against such uncertainty is diversification. and we are confident that the Harpenden Trust portfolio as cu rrently positioned provides this. RESERVES POLICY During the 201612017 Financial Year, the Director5 restated the rese￿eS to distinguish between the assets that fund the Trust and the results of the three areas of operation (Care Fund, Community Fund and Gibbons Fund). This change is described in Principal Accounting Policy Ilk) on page 29 of these f inancial statements. The total unrestricted level of reserves held for the purposes set out in accounting poliry l{kl, excluding the restricted G ibbons Fund and funds applied on the Trust's functional fixed asset, The Trust Halls, at 31st March 2024 amounted to £5,162,610131 March 2023.. £4,867,720) and the free reserves on the income and expenditure fund available for the charity's activities under the charitvs accounting policy are negative £259,670131 March 2023 neEative £143,956). 15 THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 RISK MANAGEMENT AND GOVERNANCE An organisation is exposed to risks which at best may prevent it from achieving its objectives effectively and, at worst, may threaten its existence. Risks should be assessed and disclosed to all the stakeholders. Whenever possible, risks should be avoided. Failing this, risks should be mitigated and managed. To this end, a Risk Report which analyses the risks the Trust face5 and their potential impact is reviewed annually and submitted to the Board. The Risk Report assesses the structure and governance of the Trust and services provided by the Trust under the following headings.. Strategy, Structure, Finance, Investment, Operations and Human Resource, Compliance, Regulations and Health and Safety, Cyber Security and Information Technology, External Affairs, Property, Care Fund, Wellbeing Hub and Community Fund. Control measures to reduce the risks are also assessed. Ownership of individual risks is assigned to the relevant Committees and teams. The Risk Report information is delegated by the Board for further actions to address the risks as and when necessary, The expansion of seNices and helpto the Trust's clients and the Harpenden communrty has led to a substantial growth of the Trust in terms of its management, operations and staffing who are largely volunteers. Over the years, the Trust's governance has been enhanced to refSect the growing complexity of the Trust. To this end, the Audit Risk and Governance Committee meets three times a year to review the Trust's governance and structure, with urgent matters dealt with via emails. Comments and recommendations are reported to the Board and relevant committees for actions. The strengthening of the governance is a continuing process, and the Trust aims to achieve best practice whenever possible. HEALTH AND SAFErY The Trust takes its duty for H&S matters very seriously, and with the acqui51tion of the additional premises, came an increase in health and safety requirements. We therefore appointed an external H&S Consultant on a one-year contratt, to work with our newly established H&S team, guiding us through the necessary requirements, making us aware of our legal H&S duties and assisting us in setting up systems, procedures, and documentation across our two premises. DIRECTORS On 31st March 2024, the Trust had twelve appointed Directors. The full Board meets quarterly. The Trust has established policies and procedures in place to regulate its activities. Delegated powers have been given to an Investment Committee, which oversees the Trust's Investment Policy and Strategy, Delegated powers have also been given to the Audit Risk and Governance Committee which oversees the integrity of the Financial Statements and Accounts and the Trust's compliance with the practice of good corporate governance. In addition to the Board committees, there is the Care Fund Committee and the Community Fund Committee which meet regularly. The development and maintenance of the Community Halls are being managed by the Property Team. A Property Team committee meets monthly to oversee the management and letting of the Harpenden Trust Centre and the newly acquired Harpenden Trust Halls on behalf of the Board. An External Affairs Committee advises the Board and develops policy for building overall awareness and knowledge of the Trust's activities. After a long association with the Trust, Tere5a Heritage stepped down from her role as President last Ottober. Terry, as she is known, had been our President for 4 years and a non-executive D1￿ctOr for the previous 8 years. We would like to take this opportunity to thank Terry for all of the valuable contributions made to the Trust in a variety of different ways over the past twelve years. 16 THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Directors who have served during the 12 months under review (all of whom are unpaid volunteers) are listed below. Those serving throughout the year were: Richard Nichols Chair of the Board Roona Ellis Chair of the Audit Risk & Governance Committee Mike Felton Chair of the Investment Committee Mike G051ing Board Secretary Lynn Kennedy Christmas Appeal Director Andy Lynes Finance Director Nick Luckett Chair of the Care Fund Steve Pryor Chair of the Community Fund Pat Ring People Director Emma Deutrom Non-Executive Director Mike Kelly Non-Executive Director Sarah Holmes Head of Wellbeing There have been no changes to the Board of Directors over the past year. TRUSTEES'/DIRECTORS' RESPONSIBILITIES The Trustees (who are also directors for the purposes of company law} are responsible for preparing the trustees annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requ ires the Trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including expenditure of the charitable company for that period. In preparing these financial statements the Trustees are required to: Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charity SORP 2019 IFRS 102); Make judgements and estimates that are reasonable and prudent,. State whether applicable UK Accounting Standards have been followed subject to departures disclosed and explained in the f inancial statements; Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 17 THE HARPENDEN TRUST TRUSTEES. ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply wrfth 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. In accordance with Company Law, as the Company's Direttors, we certify that.. so far as we are aware, there is no relevant audit information of which the Company's auditors are unaware; and as the Directors of the Company, we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the Charity's auditors are aware of that information. The Trustee5 are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in England governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The Trust has been registered with the Information Commissionerfordata protection purposes for several years and continues to ta ke steps in ensuring that the Trusys processes are in line with the General Data Protection Regulations which came into effect on 25 May 2018, The Trustees confirm that they have complied with the duty in Section 4 of the Charities Att 2011 to have regard to the guidance published by the Charity Commission, including public benefit guidance. The legal and administrative information disclosed on Page 2 comprises part of this report. AUDITORS Miller & Co, Chartered Accountants, were the charitable company's auditors during the year and have expressed their willingnes5 to continue in that capacity. OUR FUTURE The Directors believe that the Harpenden Trust, underpinned by established sound corporate governance, continues to be well positioned to support our local community. Wrth over 75-year heritage, the commitment of over 500 local volunteers, an established investment portfolio providing a core income stream, and the generosity of local residents and businesses each Christmas at the time of ourannual appeal, the Trust has the abilityto provide much needed support across our local Harpenden community. Despite the perception exp￿Ssed at times that Harpenden is a community that require5 little additional financial su pport, increasingly the Trust's experience has been the opposite. 18 THE HARPENDEN TRUST TRUSTEES, ANNUAL REPORT INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Harpenden Trust seeks to be at the heart of supporting the evolving needs of our community. We continue to seek to make a positive difference in supporting our community where we feel most able. The Harpenden Trust is here to help. This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the Board on 09 July 2024 and signed on its behalf by Richard Nichols Chair of the Board 19 ¥ THE HARPENDEN TRUST endent Auditorf5 Re ort to the Members ofThe Har Inde enden Trus Opinion We have audited the flnanclal statements of The Harpenden Trust Ithe'charitable compan(I for the year ended 31 M3rch 2024 whlch comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Czshflows and the notes to the financlal statements, Includlns siEnifir.ant accountlng pollcies. The linancSal ￿pOrtIng framework that has been appSled in their preparètion is applic3ble law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 rhe FlnGncial Reportlng Standord oppllcoble In the UKandRepublK of Irelond (United Kingdom Generally Accepted Accountlng Practice). In our oplnlon the flnanclal statements.. 8lve a true and tslr vlew of the state of the charitable compan¢5 affalrs as at 31 March 2024, and of its incorning resources and application of resources, including its income and expenditure, for the year then ended: have been proper￿ prepared In accordan￿ wlth Unlted Klngdom GenerallyAc￿ptert Accounting prattl￿,. and have been prepared In accord3nce wlth the requirernents of the Cornpanies Act 2006. Basis tor oplnlon We condutted our audlt In accordance wfth Internatlonal Standards on Auditing IUKI (1s￿ IUKII and applic3ble law. Our responsibilitles under those standards are further described In the Audttorfs r@sponsibilltles for the audlt of the flnancial statement5 section of our report. We are independent of the charitable cornpany in accordance with the ethical requirements that are relevant to our audlt of the flnanclal statements In the UK, including the FRC'S Ethical Standard, and we have fulfllled our other ethlcal responslbillties in accordance with these requirements. We belleve that the audlt evidence we have obtained is sufficient and approprlate to provlde a basis for our oplnion. Condusions relating to going con￿rn In auditingthe financial statements, we h3ve concluded th8t thetrustee's useof the golngconcern basisof acwunting inthe preparation olthefin3nctal statements is appropriate. Based on th& work we have performed, we have not identrfied any m3terial uncertalnties rel3tlng to events or conditlons that, individually. or collect￿elY* may cast significant doubt on the charitable cornpanvs ability to continue as a going concern for a perlod ol at least twelve month5 frorn when thefinancial 5taternents are authori5ed for Issue. Our responsibiif(les and the responslbllltSes of the trustees wlth respect to goln8 con￿rn are described in the relevant sections of this report. Other Information The other information comprise5 the information included in the trustee5 annual report, other than the financSal statements and our auditorf5 report thereon. The trustees are re5ponslble forthe other1nformatlon contained wlthin the annual report, Our oplnion on the financial statements does not cover the other information and, except to the &xtent otherwise eKplicitly stated in our report, we do not express any form of a55urance conclusion thereon. Our responslbility Is to read the other information and, in doing so, consider whetherthe other Information Is materially Inconsistent with the financlal statements or our knowledge obtalned In the course of the audit or otherwise appears to be materially mi5Stated. If we Identlfy such material inconsistencies or apparent materi31 Ini55tatement5, we are required to determine whether this glves rlse to a material mlsstatement in the financial statements themselves. If, based on thework we have performed, weconclude thatthere is a tnaterial rnis5tatefflent ofthis other inforrnatlon, we are reoulred to report that fact. We have nothing to report In this regard. Oplnion5 on other matters prescribed by the Companles Art 21x16 In our oplnlon, based on the work undertaken In the course of the audlt.. the inform3tion given in the tru5tee5' report (incorporating the directors. reportl for the flnanclal year for which the financial statements are prepared Is conslstent with the flnanclal statements,. and the directors, report ha5 been prepared in accord3nce with applicable legal requirernents. Matters on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charltable company and its environment obtsined in the course of the audit, we have not identified material misstatements in the d1￿ctOrS, report. We have nothln8to report In respett ofthefollowlng matter5 in relation to which the CompanlesArt 2(106 requlres us to reporttoyou If, in ouropinion.. adequate accountlng records have not been kepL or returns adequate for our audit have not been recelved from branches not VlSlted by us.. or thefinanclal Statements are not in agreement with the accounting records and returns,. or certain disclosures of director< remuneration specifled by law 3re not made- or we have not ￿CeIved all the informatSon and explanations we require for our 3udit.' or the trustees were not entitled to prepare the financi31 statements in accordance with the small cornpanies, regime and take advantage of the small cornp3nles' exernptlon In preparln8 the dlrectors, report and from the requirements to prepare a strategic report. Responslbilltles of trustees As explained more fully In the trustees, responslbllrftles statement in the trustee5 report. the trustees Iwho are also the cllrectors of the charit)ble company for the purpose of cornpany lawl are responsible for the prepar3tion of the flnanclal statements and for being 53tisfied that they give 8 true and fair view and for such Snternal control as the trustees determine is neceS￿ry to enable the preparation of financlal statements that are free from tnaterial misstètement, whether due to fraud or error. In preparing the financ￿31 Statements, the truste&s 3re responsible for aswslng the charV(able companls èbility to continue as a going concern, disc1051ll& a5 applicable, mztters related to going concern and usingthe going concern basls of accounting unlessthe trustees either intend to liqyidate the ch3rtrLa￿e company or to ￿ase operations, or to have no r&allstic alternative but to do 50. 22 THE HARPENDEN TRUST endent Auditorf5 Re ort to the Members ofThe Har Inde enden Trust Icontinuedl Auditorfs responsibilities for thè audit of the finantlal statemènts Our objectives are to obtsin rea50Nable 3ssur3nce about whether the financ181 statements as a whole are free from m3teri31 mi55tatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Rea50n3ble assurance Is a hlgh level assurance but Is not s guarantee that an audlc condurted in accordance with ISAS IUKI will always detect a rnat&rial mlsstatement when tt exists. Mi55tatements can arise from fraud or error and are considered rnaterial rf, individually or the aggregate, they could rea50n3bly be expected to influents the economic decisions of users taken on the basis of these *inanci31 statements. Irregularitles, including fraud, are instance5 of non-compliance with laws and regulatlons. We deslgn procedures in line with our responslbllities, outllned above, to detect mater5al mlsstatements In respect of Irregularltles, including fraud. Extent to which the audit w?$ con51dered capable of detecting Irregularltles, Includln8 fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all Irre£ularitie5, includingth05e le3dingto a m8terial mlsstaternent in the financial ststements or non-compliance with regulation. The risk increa5e5 the more that compllance wlth a law or regulation is removed from the events and tr3ns8ttlons reflected In the f1nanclal statements. as we wlll be Sess likely to becorne aware of instan£es of non-compllance. The risk 15 also 8reatEr regarding irregularities occurring due to fraud ratherthan error. a5 fraud involves intentlonal concealment, forgery, co11usion, omission or mlsrepresentation. We identrfy and è5se5S the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform dlt procedures responslve to these rlsks, including obtsinlng audlt evldence that Is sufficlent and appropri3te to provide a basis for our opinion. Idefr7tlfying ajidussessing POtentlGI rlsks reloted to IrrEgulGrltles In identifyin8 and assessing risks of material rnis5tatement in respect of irregularltles, includln8 fraud and non-cornpli3nce with laws and re8ulètlons, we consldered the following.. the nature of the industry, control e￿￿rOnrnent and business performance,. the results of our enquiries of management about their own identification and assessments of the risks of irre8ularftie5', any matters we identified having obtained and reviewed the company's pollcles relating to.. identifying, evaluating and cornplying with laws 3nd regulations 3nd whether they were èwafe of any instances of non- compliance,. detecting and respondingto the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud.. the fnatters discussed 3rn0ng the audit enga8ement team regarding how and where fraud might occur in the financial statements and potential indicator5 of fraud. In common with all audlt5 under15A's IUKI we are also requlred to perform specific procedure5 to respond to the risk of management override. We also obtained an understsnding of the legal and regulatory framework that the company operate5 in, focussing on provisions of those law5 and regu13tion5 that had a direct effect on the determination of material afflounts and dlsclosures in the financial statements, such as the Companies Act 2￿6. In addition, we considered the provisionsof other law5 and regulations that do not have a dlrett effect oll the financial st8ternents but compllance with whlch m3y be fundamental to the Companvs 3billty to operate orto avold a material penalty. Aurlitre5ponse to risk identified Our procedures to respond to r15ks IdentSfled Included the followlng.. Reviewingthefinancial ststementdisclosuresto assesscomp5iance with provisions of relevant lawsand regulationsdescribed as havlng dlrect effect on the financlal statements,. Performing anawical Procedure5 to identify any unusual or unexpected relatlonships that may indicate material mi55taternent due to fraud,. In addre55ing the risk of the fraud through management override of controls, the testing of the appropriatenes5 of journal entrles and other adjustments and evaluatln8 the buslness ratlonale of any significant tTansactlons that are unusual or outslde the normal course of busine55. We a150 communlcated relevant identified laws and regulations and potential fraud ri5k5 to all engagement team meml)ers and remalned alert to anv ir*dications ol fraud or non-compli3nce with laws and regu13tions throughout the audlt. A further description of our responsibillt5es for the audlt of the financial statement5 is located on the FinancSal ReportSn8 Councll'5 webslte at www.frc.org.uk/auditorsre5ponsibilitles. Thls description forms part of Report of theAudltors. Use of our report The report is made solely to the charttable cornpanws rnernbers. as a body, Sn accordance with Chapter 3 of Part 16 of the Companles Att 2006. Our audit work ha5 been undertaken so that we might State to the charitable comp3nWs rnembers those matter5 we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not acTrpt or assume responslbllity to anyone other than the charitable company and the charltable company's rnernbers as a body, for our audtt work, for thi5 report, or for the oplnions we have formed. Roger Cox FCA- Senlor Statutory Audltor For 3nd on behalf of Miller & Co, StatutoryAudltor 5 Imperial Court, Laporte Way, Lutron, LU4 8FE 10 July 2024 23 ThE HARPENDEN TRUST STATEMENT OF FINANCIAL CTIVITIES INCLUDING INCOME & EXPENDITURE ACCOUN FOR THE YEAR ENDED 31 MARCH 2024 ST 2023 Unres Funds Restrirted Funds Notes Total Total Income from Donations Legacies Charitable activities.. Hall Hire, including grants Other income Investment income 96,780 25,000 96,780 25,000 101,635 72,gD4 6,692 143,868 13,610 86,514 6,692 143,868 52,208 1,170 159,333 Total Income 345,244 13.610 358,854 314,346 Expenditure ¢)n'. Raising funds Investment management fees Charitable activities.. Grants payable Expenditure on charitable activities Dlrect costs- H811 hire Support Costs 3,362 19,165 3,362 19,165 1,764 22,385 4+5 141,224 70,224 114,161 53,301 141,224 70,224 162,292 53,301 287,229 54,465 174,052 41,311 48,131 Total expenditure 401.437 48,131 449.568 581.206 Net deflclt before g3lns on investments {42,5831 148.1311 190,7141 1266,8601 Net gains/11055esl on investments Reali5ed gains on Sale of investments Unrealised gains/llosses1 on revaluation of investments 12 12 46,202 503,982 46,202 503,982 441,760 1973,3471 550,184 550.184 1531.5871 Net SuYplusl(deficitl for year belore transfers Transfer between funds 507,601 148,1311 148,1311 48,131 459.470 1798,4471 io Net movement in funds for year- carrled fonvard 459,470 459,470 1798A471 The notes on pages 28 to 36 forTn part of the financial statements 24 THE HARPENDEN TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME & EXPENDITURE A FOR THE YEAR ENDED 31" MARCH 2024 COUNT Icontinuedl 2024 2023 Unrestricted Funds Restricted Funds Notes Total Total Net movement In fund5 for year- brought forward 459,470 459.470 1798,4471 Movements in year Funding movement Irncluding legaciesl 15 575,184 575,184 1531,5871 Income & Expenditure 15 1115,7141 1115,7141 1266,8601 15 459,470 459,470 1798,4471 Reconciliation of Funds Fund5 brought forward at 1st April 2023 Funding Income and Expenditure 15 15 5,955,465 1143,9561 599,902 4,661 6,555,367 1139,2951 7,086,954 127,565 5,811.509 604.563 6.416.072 7,214.519 Balance at 3151 Marth 2024 Funding Income and Expenditure 15 15 6,530,649 1259,6701 599,902 4,661 7,130,551 1255,0091 6,555,367 1139,2951 6,270,979 604,563 6,875,542 6.416,072 All income and expendlture derive from continuing activities The Statement of Financial Activities includes all gains and losse5 recognised in the year. The notes on pages 28 to 36 form part of the financlal statements 25 THE HARPENDEN TRUST BALANCE SHEEf AS AT 31 MARCH 2024 2024 2023 UnTestri Funds Restricted Funds Total Fixed assets Tangible a55ets Investments li 12 1.108.369 5,023.540 604,563 1.712.932 5.023.540 1,551,352 4,752,521 Total fixed assets 6.131,909 504.563 6,736,472 6,303,873 Current assets Debtors Cash, Treasury deposits and bank balances 13 10.285 181,6 10,285 181,600 7,019 229,645 191.885 191.885 236,664 Curyefit liabilities: Credttors: amounts falling due in one year 14 152.8151 152.8151 1124,4651 Net current assets 139.070 139.070 112.119 Total assets less current liabilities Total net assets 6,270.979 604,563 6.875,$42 6,416.072 Funds Fup.ding at cost Revaluation reserve 15 15116 5.186.185 1,344,464 599,902 5.786.087 1,344,464 5,617,310 938,057 Total Funding Income and Expenditure 15 15 6.530.649 1259,6701 599,902 4.661 7,130.551 1255,0091 6.555,367 1139,2951 Total funds 6.270.979 604,563 6￿75.542 6.416.072 The financial statements which have been prepared in accordance with the special provisions relotFng to companies subject to the small companies re8ime within part 15 of the Companies Att 2006 were approved and authorised for issue by the Board on 9 July 2024 Signed on behalf of the Board of Directors Richard Nichols Chèir of the Board Company Registration Number-. 05951591 The note5 on pages 28 to 36 form part of the financial statements 26 THE HARPENDEN TRUST H FLOWS FOR THE YEAR ENDED 31 MARCH 2024 STATEMENTOF C ST 202 RECONCILIATION OF NET INCOME/IEXPENDITUREI TO CASH FLOW FROM OPERATING ACTIVITIES Net Income/lexpenditure for the year Ipage 241 Adjustments for.. Net Igainslllos5es on investments Investment income Depreciation charge Ilncreasel in debtors (Decrease) / Increase In creditors 459,470 1798,4471 1550,1841 1143,8681 32,718 13,2661 171,6501 531,587 1155,3331 11,559 15,2541 86,995 Net cash labsorbedllgenerèted In operating activltles 1276,7801 1328.893) CASH FLOWS FROM INVEsfiNG ACTIVITIES Investment income Asset purchases Purchases of Investments Sales of investments 143,868 1194,2981 1472,8921 707,887 155,333 11,550,0001 1565,7971 2,109,819 Net cash generated by the Inve5tlng activities 184.565 149,355 Change in cash and cash equivalents in the reported perlod 192,2151 {179,5381 Cash and cash equivalents at 31 March 2023 285,614 465,152 Cash and cash equivalents at 315t March 2024.. Cash at bank and with investment adviser 193,399 285.614 Comprising: Cash at bank Ipage 261 Cash held in Investment portFolio Ipage 33, note 121 181,600 11,799 229,645 55,969 193.399 285,614 27 THE HARPENDEN TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH 2024 Prlnclpal Accountlng Pollcies lal 8asis of preparation The Harpenden TrLJSt is a private company limited by guarantee règistered in England. In the event of the charity being wound up, the Ilability in ￿SpeCt of the guarantee is limited to £1 per member of the charity. The address of the registered ofPl￿ is given in the charlty informatlon on page 2 of the financial statements. The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standln8 applicable in the UK and Republic of Ireland issued in October 2019, the Financlal Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021, the Charities Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost conventlon, as modified for the revaluation of the investments. The financial statements are presented in pounds sterling which is the functlonal currency of the charity and rounded to the nearest pound. Ibl Income All incoming resources are included in the Statement of Financial ArtivSties when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Voluntary, fund raisin& appeal and legacy income 15 accounted for in the period in which is receivable and is included gmss of recoverable income tax where appllcable. The value of services provided by volunteers has not been included in these accoLJnts. Investment Income is Included in the Statement of Financial Activities when receivable. Icl Property income and maintenance The Trust Centre and 130a Southdown Road are operated as community facilities and as such are made available for hire on a not for profit basis. Hire income is accounted for In the period in which the charity is entitled to receipt. Maintenance and running expenditure is Included as Charitable expenditure on the accruals basls. dl Expendlture Expenditure, including attributable VAT which cannot be recovered, is recognised on an accruals basis as a liabllity Is incurred. Costs of generating funds comprlse those cost5 attributable to fund ralslng and the Christmas Appeal. Grants payable are charged in the year when the offer is conveyed to the reciplent except in those cases where the offer is condltional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered and sijbject to conditions which have not been met at the year end are noted a5 a commitment but not accrued as expenditure. Support Costs relate to charitsble activities and comprise costs for publicising the work of the charity, processing grants and applications and include the office costs for the running of the charitvs services. Governance costs comprise all c05t5 involving public accountability of the charity and its compliance with regulation and good practice such a5 auditors, renumeration. lel Tanglble flxed assets and depreciation Tangible fixed 85set5 for use by the charity are stated at cost less depreciation. The costs of minor additions and those c05ting below £5,000 are not capitalised. Depreciation is provided at rates calculated to wrlte off the cost of the fixed asset5 le55 their estimated residual val￿e over their expected useful live5 on the following basis.. Freehold property Long leasehold 2% on cost Improvements to freehold I leasehold buildings Over 10 years from year of tompletion of works Furniture, office equipment and vehicles 15%-25%on cost If) Fund attounting The charity ha5 unrestricted funds comprising the Care Fund and the Community Fund and a restricted fund, the Gibbons fund. Each fund Includes it5 appropriate share of the statutory Revaluation Reserve Fund. The unrestricted Care and Community FL*nds ère available for use at the dlscretion of the trustees in furtherance of the general objectives of the charitv. 28 THE HARPENDEN TRUST NOTES FORMING PART OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31￿ MARCH 2024 Prlncipal Accounting Poliaes If) Fund accountlng l¢ontlnuedl The unrestrirted Revaluation Reserve Fund is the reseNe, requlred by the Companies Art 2006, repre5entillg the amount by which investments exceed thelr historical cost. The restricted fund 15 subject to restrictions on its expenditure imposed by the donor. Details of the nature and purpose of each fund are set out in note 15. Igl Fixed asset- Investments Investments are recogni5ed initially at fair value which is normally the transaction price. Subsequently, they are measured at fair value with changes recognised in net gains and losses on investments in the Statement of Flnancial Activities. The basis of falrvalue for quoted investments Is equ5valent to the market value, using the mid market price. (h} Debtors and creditors re￿1vable/PaVab1e within one year Debtors and credltors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any 1055es arising from impairment are recogntsed in expenditure. 111 Financlal Instruments The Trust has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instrument5 are initially recognised at transaction value and subsequentially measured at their settlèment value. Other Flnancial Instruments, including investments in equity instruments, are initially measured at fair value which 15 normally transaction price. Such tnstruments are Subsequently carried at fair valLte and the changes in fairvalue are recognised in the Statement of Financial Activities. ti) Tax The charity is an exempt charlty wlthln the meaning of Schedule 3 of the Charities Act 2011 and Is considered to pa5S the tests Set OLrt in Paragraph I ScheLlule 6 Finance Act 2010 and therefore it meets the definition of a charitsble company for UK corporation tax purp05e5. Ikl Reserves The Trust distinguishes between Funding and Income and Expenditure reserves. Fundin Funding reseNes are those fund5 owned by the Trust which are invested to produce income in the form of divldend5 and interest lor the current and future years that are used to finance the Trust's charitable activities. Funding 15 comprised of monie5, Including legacies, donated to the Trust for that purpose together with all investment gain5 and losses whether realised or not. There is no restriction on the Trust using the Funding for its charitsble purposes but the Gibbon5 Funding is restricted to beneficiaries who reside in the .E-Ecl8siastical Parish of St John, Harpenden. However the poSicy is that the Fund￿n8 reserve will norrna11y be retained to produce income for the Trusvs activities in future years. Income and ex enditure Each of the Trusts activities has its own income and expenditure account, the balance on which ￿preSentS the dtfference between the Income of that activity and the donations and expendlture to 5UPPOrt it. The income and expenditure reserve for each activity is reviewed annually by the Board and steps taken to implement the Trust's policy to maintain the re5pertive reseNes at levels sufficient to meet anticipated grant commitment5 consistent with keeping them at a low level. 111 Judgements and key sources of estimatlon uncertainty Preparation of the financial statements requires management to make significantjudgements in applying the accounting policies of the Charity and estimates and assumptions that have Significant effect on the recognition and measurement5 of assets, liabilitie5, income and expenses. Actual results may be different to these estimates. (ml Going Concern The flnancial statements have been prepared on a golng concern basis as the Directors believe that no material uncertainties exist. The Directors have considered the level of funds held and the expected level of Income and expenditure for 12 month5 from the date authorislng these financial statements. The budgeted income and expenditure is sufficient with the level of resetves for the charity to be able to contlnue 8s a going concern. 29 THE HARPENDEN TRUST NOTE5 FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH 2024 Donations 2024 2023 Unrestricted Funds Restrirted Funds Total Total Christmas Appeal, Including GSft Aid Other Donations, Including Gift Aid 55,551 41,229 55,551 41,229 64,346 37,289 96.780 96.780 101,635 No restricted fund income was received in 2023. Investment income 2024 2023 Unrestricted Funds Restricted unds Total Total UK listed equity investments UK fixed and variable interest Stocks Overseas listed equlty investments Overseas fixed and variable interest Stocks 80,665 29,050 26,830 5,628 80,665 29,050 26,830 5,628 108,672 9,440 26,452 10,197 142,173 1,695 142,173 1,695 154,761 4,572 Bank Interest 143.868 143,868 159.333 Restricted Fund income of £12,482 is included in the total income of £159,333 in 2023. Grants payable 2024 202 Unr Funds Restricted Funds Total Tota Payable to individuals.. Grant51607 recipientsl Utilitie5 grants168 recipients) Christmas parcels1140 re¢lpient51 Youth Grants148 recipients) 36,839 27,550 3,222 5,743 36,839 27,550 3,222 5,743 38,589 24,500 3,325 6,117 Total grants to individuals Grants to organisations (note 51 73,354 67,870 73,354 67,870 72,531 214,698 141.224 141,224 287.229 30 THE HARPENDEN TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 5T Grants to organisations 2023 Unrestricted Fund5 Restricted Funds Total Total The following single donations were made.. BatFord Nursery School Crabtree School Parents Associatlon Friends of Kinsbourne Green Common Fusion Pre-school Grove Infant & Nursery School Grove Junior School Harpenden & Redbourn Girl Guides Harpenden Academy Harpenden Trust &re Fund Harpenden Mencap Harpenden Rovers Youth Football Club High Beeches School Highfield Preschool PTA Hornbeam Wood Hedgehog Sanctuary Katherine Warrington Sch(iol Lea Junior School Manland Primary School Network Church Network Pottery Real Inspiration Sauncey Wood School SLM Community Leisure Trust St Dominic School St john's Church Harpenden St Nicholas Primary PTA United Reform Church Wood End School Other organisations 2,500 10,000 15,000 15,CXYJ 5,000 10,000 17,810 8,000 12,000 8,000 12,000 15,000 5,115 5,000 5,793 15,000 4,000 5,825 15,000 12,500 25,000 3,645 2,640 2,640 3,430 3,430 5,000 17,000 7,500 7,500 10,000 14,800 14,800 2,310 5,000 10,000 8.200 4,500 4,500 67,870 67.870 2A4.698 No restrirted fund grant5 were paid in 2023. The under budget 2024 grant total will be expended in the next financial year and the higher grants total for 2023 was a5 a result of a post COVID catch up. Expenditure on charltable activities 2024 2023 Unrestrltted Funds Restricted Funds Total Total Seniors Fair Wellbeing Coffee mornings Children's outing Coach outings & tea party costs Furniture seNices Wheelchairs 440 47,642 1,447 1,395 4,976 13,899 425 440 47,642 1,447 1,395 4,976 13,899 425 542 35,127 563 1.249 3,704 13,075 205 70,224 70,224 54,465 There wa5 no restricted fund expenditure on charitable activitie5 in 2023. 31 THE HARPENDEN TRUST NOTES FORMING PART OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 sr Direct costs- Hall Hlre 2024 2023 Unrestricte Funds Restricted Funds Total Total Trust Centre costs and maintenance Trust Centre legal and professional fees Trust Centre depreclation Inote 111 90,156 3,377 20,628 36,041 126,197 3,377 32,718 129,025 33,468 11,559 12,090 114,161 48,131 162.292 174,052 There were restricted fund direct costs In 2023 of £3,022 out of the total costs of £174,052. Charftable Activities- Support costs 2024 2023 Unrestricted Funds R strlrted Funds Total Total Tr8lnlng Newsletter/Publicity Printing Telephone Insurance Trust oflice Computer costs Governance costs- Auditors remuneratlon Bank charges Tran5POrt Sundries/ other 2,475 8,105 2,697 5,442 5,032 15,369 5,289 4,003 285 853 3,751 2,475 8.105 2,697 5,442 5,032 15,369 5,289 4,003 285 853 3,751 1,125 5,640 1,782 4,458 2,1)04 13,692 3,761 3,793 991 4,065 53.301 53,301 41,311 Support costs are allocated equally betrmeen the Care Fund and the Community Fund. There were no restricted fund support costs in 2023. Trustee femuneration and related partles No direttor, tTU5tee, member, offlcer or volunteer receives any financial reward from the charity except for the Administration Assistsnt, a Statutory member who provided administration service5 to the charity, on normal commercial terms. to a value of £15,369 in the year ended 31 March 2024.12023- £13,6921. Directors and trustees received reimbursed expenses only In respect of purchases made on behalf of the charity. The financial statements reflect the stewardship of the financial resources that have been available to the Trust and no costs have been attributed to the many hours of personal effort that have been donated to the Trust by members and volunteers in counselling and personal assistance to the needy of Harpenden. 10. Transfer between fund5 The transfer between restricted and unrestricted funds represents the reimbursement of that part of the charitable expenditure paid from the unrestricted fund that relates to the beneficiaries of the Parish of St. John. The amount reimbursed is arrived at on the basis of the proportion of beneficiaries who live in that Parish and includes the maintenance of the Trust Centre as a community facility in the St. John Parish. However, the transfer ha5 been limited to the income of the re5trirted fund in the past. During the prior year the Trust purchased a 999 lease on 1303 Southdown Road, Harpenden. All of the funds in the Gibbons Fund were used to contribute towards the cost of thi5 purchase as the property is in the St John Parish and the purchase meets the terms of the fund. 32 THE HARPENDEN TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED ST I MARCH 2024 11. T¥nglble fixed assets for use by the Charity Lon Leasehold Im rovements Freehold rovements Freehold Pro Lon Leasehold Furnlture & ui Im Total Cost At 1st April 2023 Additions At 31 March 2024 102,951 9,102 1,550,000 3,266 23,354 26,620 1,665,319 194,299 1,859,618 170.945 170,495 102,951 9,102 I,550,￿0 Depreciatlon At 1st April 2023 Disposals Charge for year 102,951 7,750 3,266 113,967 31,000 1,718 32,718 At 31 March 2024 102,951 38,750 4,984 146,685 Net book value At 31sI March 2024 9.102 1,511.250 170.495 21,636 1,712,933 At 31st March 2023 9,102 1.542,250 1,551,352 The Directors review buildings depreciations annually. Given the Trust Centre maintenance Policy, expected useful life and residual site value they take the view that any required depreciatlon charge under accounting policy Ilel, in respect of the original cost of the building included under freehold property, would be imm2terial. Duringthe prior yearthe Trust purchased a long lease on the halls at 130a Southdown Road. The halls are used as a community facility. 12. Investments Llnrestricted Funds Restricted Funds Total Movement Market Value at 1st April 2023 Funds withdrawn Management fees & bank charges paid Realised gain5 on investments Unreali5ed gains on revaluatlon of investments 4,752.521 1260,0001 119,1651 46,202 503,982 4,752,521 1260,OODI 119,1651 46,202 503,982 Market value at 31st March 2024 5,023,540 5.023,540 The historical Cost of charity investment5 at 31st March 2024 was £3,679,07612023 £3,814.4681. 2024 2023 unrestricted Funds Restricted Funds Total Total Market Value UK Listed equity investments UK fixed interest government stocks UK variable interest company bonds UK Property and Infrastructure funds Index tinked Fund Overseas listed equity investments Over5ea5 variable interest company bonds fund Cash 1,857,182 104,465 605,045 284,266 147,664 1,918,619 94,500 11,799 1,857,182 104,465 605,045 284,266 147,664 1,918,619 94,500 11,799 1,773,509 183,159 388.410 338,512 152,528 1.760.874 99,560 55,969 Total Investments 5.023,540 5,023.540 4.752.521 33 THE HARPENDEN TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH 2024 13. Debtors 2024 2023 UnrestrKtted Fund Restrlcted Funds Total Total Taxation recoverable Other Debtors & prepayment5 2.841 7,444 2,841 7,444 2,487 4,532 10.285 10.285 7.019 The value of debtors held on restricted funds in 2023 was £Nil. 14. Creditors.. amounts falling due wlthln one year Unrestritted Funds Restritted Fund5 Total Total Trade Credltor5 16,887 25,428 10,500 16,887 25,428 10,500 2,748 111,217 10,500 Other creditors & accrua15 Prepaid Expenses Total 52,815 52.815 124A65 The value of creditors held on restricted funds in 2023 was £Nil. 34 THE HARPENDEN TRUST TES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH 2024 15. Funds Unrestrict d Total Funds Commun Fund Care Fund Glbbon Fund Total Funds Fund balances at 1st Aprll 2023 Funding with investments at cost Revaluation reserve 3,708,023 701,323 1,309,385 236,734 5,017,408 938,057 599,902 5,617.310 938.057 Total Funding Income and E ehditure Surplus1 (Deficit) 4,409,346 1,546,119 5,955,465 599,902 6,555,367 37,605 1181,5611 1143,9561 4,661 1139,2951 Total funds brought forward Ipage 251 4,446,951 1,364,558 5.811.509 604,563 6.416,072 Movements In year Fundi Legacies Realised investment gains Transfer: Realised gains 25,000 11,550 24,394 25,000 46,202 97,575 25,000 46,202 97,575 34.652 73,181 Total Funding with investments at cost 107,833 60,944 168,777 168,777 Unrealised investment gains TransFer.' realised gains Total Funding Revaluation Reserve 377,986 173,1811 304,805 125,996 124,3941 101,602 503,982 197,5751 406,407 503,982 197,5751 406,407 Total Funding 412,638 162,546 575,184 575,184 Income and Ex Deficit endlture 12,2641 1113,4501 1115,7141 1115,7141 Total Funds Movement in year Ipage 25) 410,374 49.096 459,470 459,470 Funds balances at 31st Marth 2024 Fundin Funding with investments at cost Revaluation reserve (note 161 3,815,856 1,006,128 1,370,329 338,336 5,186,185 1,344,464 599,902 5,786,087 1,344,464 Totsl Income and E enditure Surplus / (Deficit) 4,821,984 1,708,665 6,530,649 599,902 7,130,551 35,341 1295,0111 1259,6701 4,661 1255,0091 Total funds carried forward Ipage 251 4,857,325 1,413.654 6,270,979 604,563 6.875.542 Unrestrlcted funds Unrestrlcted fund5 comprise.. lal Care Fund.. The Care Fund arose on transfer on 1st Jurte 2007, of the assets of the unincorporated chartty, The Harpenden Trust, to the company and 15 available for the general objectives of the Trust. Ibl Community Fund.. The Community Fund was established following the transfer of the assets of the Abbeyfield (Harpendenl Society Limited on 17th April 2008 for the purpose of providing as515tance to other charities and organisations in Harpenden, including as many as possible of those involved in asslsting the elderly and enhancing their quality of life. Icl Revaluation ReseNe Fund= The Revaluation Reserve Fund is required by the Companies Act 2006 and corllpri5es the amount by which the investment5 carrying value exceeds their historical cost. It is included in FLJnding of the respective Trust Funds and is separately identified 3nd disclosed. The movement on this fund is detailed in note 16 below. 35 THE HARPENDEN TRUST NOTES FORMING PART OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ST Restrlrted Fund The restricted fund comprlses the Gibbons Fund which is administered as part of the Care Fund but with the beneficiaries restricted to'poor Inhabitants of the Ecclesiastical Parish of St. John, Harpenden, by the bequestfrorll the Estate of the late William Kirby Gibbons and Daisy May Gibbons from which the Fund is derived. The Trustees made the decision that all of the funds held in this Fund shoijld be used to contribute towards the purchase of the long lease at 130a Southdown Road as the property is within the above mentioned Parish and the purchase met the terms of the Fund. Should the property be sold in the future a proportion of any sale will be allocated to the Gibbons Fund in proportion to its contribution to the original purchase. 16. Revaluation ReseNe Fund At 1st April 2023 938,057 Unreallsed Investment revaluation gain for the year Inote 121 Release of the resetve in respect of realised investment gains of the year Inote 151 503,982 197,5751 06,407 At 31st March 2024 (see note 151 1,344,464 17. Provislons Avallable for Smaller Entities- Non Audit Services In common with many other organlsations of our size and nature we use our auditors to a551St with the provision of othèr seNlces from time to time. During the year ended 31st March 2024 our auditors assisted with the preparation of the charitvs annual statutory accounts. The auditors remuneration (see note 81 constituted an audit fee of £2.80012023- £2,6001 and a fee for non audit services of £1,20312023- £1,1931. 18. Post Balan￿ Sheet Events In May 2024 the Trust entered into a 5 year lease agreement to h￿￿ a mini bus. The lease commitments will be paSd monthly and the total lease payments over the lease term will be £42,563 36