THE ADA HILLARO CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
Charity Number 1124957

THE ADA HILLARD CHARITABLE TRUST
CONTENTS PAGE
Pages
Referen￿ and Administrative Details
Report of the Trustee
Independent Auditor's Report
Statement of Financial Activities
Balance Sheet
10
Notes to the Financial Statements

THE ADA HILLARD CHARITA8LE TRUST
REFERENCE AND ADMINISTRATION DETAILS
Corporate Trustee
HSBC Tnjst Company (UK) Limited
Current Dlrector5 of Corporate Trustee
J Coyle
P M S￿nCer
J Hewitson
Trust Manager
S Hill
Prlnclpal Office
Forum 1
The Forum Parkway
Whileley
Hampshire
P015 7PA
Audttors
RSM UK Audit LLP
Chartered Accountants
Highfield Court
Tollgate
Chandlers Ford
Easlleigh
Hampshire
S053 3TY
Bankers
HSBC Bank plc
Forum 1
The Forum Parkway
Whiteley
Fareham
Hampshire
P015 7PA
Inveslment Managers
HSBC UK Bank plc
1 Centenary Square
Birmingham
B1 1HQ

THE ADA HILLARD CHARITABLE TRUST
REPORT OF THE TRUSTEE
FOR THE YEAR ENDED 5 APRIL 2022
The financial statements have been prepared in accordance with the accounting policies sel out in the
notes to Ihe accounts and comply with the charity's governing document, the Charities Act 2011 and
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland published on 16 July 2014.
The Ada Hillard Charitable Trust Is an unincorporated trust and is constiluled under a deed of settlement
dated 6 March 2003. The trust is a registered Chaiity {no. 1124957).
Aims and objectives
The objects of the charity are to pay or apply the income of the ftjnd lo the below named charities in
perpetuity-
Cancer Research UK
Disabled Living Foundation
The British Heart Foundation
The National Trust
The Northern Police Convalescent Home
The Royal Air Force Benevolent Foundation
The Royal National Institute for the Blind
Charitable payments may also be made out of the caprtal fund at the discretion of the truslee.
This is performed through the awarding of grants, in accordance with the terrns of the governing
document. The trustee considers grant making an effective method of delivering these objectives. Grants
are awarded at the discTetion of the trustee.
Public benefit
The trustee has considered the Commission's guidance on public benefit. and consider grant making to
be an effective method of delivering these objeclives. Applications are reviewed as they are received,
and awarded al the discretion of Ihe trustee.
Financial review
The charity originally received donalions under the terms of the deed of settlement. The fund generated
income of £285,386 {2021.' £320.058) in the year. which together with brought forward reserves facililaled
the expenditure on charitable activities of £376,933 12021-. £373,868) of which £272,142 12021..
£280.3121 was direct charilable expenditure in the form of granls lo charitable institutions. Total
charilable expenditure amounted to £443,33012021-. £419,564).
The closing level of endowment funds was £13,551,77112021. £13,322.903) and unrestricted fvnds was
deficit of £7.717 {2021: £2,741).
Achlevements and perforrnance
During the year 84 grants tolalling £272,142 12021.. 84 grants lotalling £280,312) were awarded to
charitable institutions, in accordance with the terms of the governing document. Details of these grants
are set out in note 5 to the financial statements.
The level of investment income generated in the year was considered satisfactory and the market value
of the investments moved in the underlying securities.

THE ADA HILLARD CHARITABLE TRUST
REPORT OF THE TRUSTEE eont.
FOR THE YEAR ENDED 5 APRIL 2022
Investment poll¢y
In accordance with the governing document, the trustee has the power to invest in such stocks, shares,
investments and propety as they see fit. The Ituslee engaged HSBC Global Asset Management (UK)
Limited as Investment Managers. The policy is to adopt a low to medium risk investment strategy to
protect, in absolule lerrns, the capital value of the fund whilst producing a sustainable and growing level
of income, and also providing the potential for longer term growth of capital in real terms.
Reserves pollcy
The unrestricted funds, which are the tree reserves of the charity, and which are represented by the
income arising, are paid over to beneficiaries throughout the year. 11 is not the policy of the charity to
maintain specific reserves.
At the year end the unrestricted fund was in a deficit position. The deficil has arisen as a resutt of a timing
difference only and has Sin￿ returned to a surplus since the year end.
The expendable endowment hjnds represent those assets, which are held permanently by the charity,
principally investments. Income aFising on the endowment fund can be used in accordance with the
objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the
investments form part of the fund. The trustee has the power lo convert this fund into income.
Plans for the future
The trustee intends lo continue providing grants in a similar way to the recent past whilst retaining
flexibility as to the timing and scale of grant making.
Related partFes
The corporate trustee and the investment managers are both wholly owned subsidiaries of HSBC
Holdings plc.
In addition to those fees shown on page 18. as a resull of the acquisition and disposal of investments,
the charity pays transaction charges to HSBC Bank plc. The charges are calculated on a sliding scale at
a percentage of the transactions value plus VAT and are added lo or deducted from the cost of the
investments or the disposal proceeds in accordance with UK standard accounting practice.
Structure, government and management
The trustee has appointed a designated tTLisI managef to look after the charity. The investment manager
reviews the perf0mlan￿ and provides recommendations on the structure of the investment portfolio.
The power lo appoint additional trustees is vested in the current trustee. The Trust Deed requires a
minimum of three trustees, unless a trust corporation is appointed.
The trustee has examined the major strategic, business and operational risks which the charity faces
and confirms that systems have been established to enable regular reports to be produced so that the
necessary steps can be taken to lessen these risks. The main risk in the year was considered lo be the
variabilrty of investment retums.
The corporate trustee and the investment managers are both wholty owned subsidiaries of HSBC
Holdings plc. A summary of the transactions of the charty with these parties is set out in note 11 of the
financial statements.

THE ADA HILLARD CHARITABLE TRUST
REPORT OF THE TRUSTEE cont.
FOR THE YEAR ENDED 5 APRIL 2022
Key management personnel
The Trust does not have any employees and all decisions are taken by the trustee. The only remuneration
paid is that paid to the corporate trustee as disclosed in note 11.
ststement of trustee's responsibilities in relation to the financial statements
The Iruslee is responsible for preparing the Trustee's Annual Report and the financial slalemenls in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustee to prepare financial statements
for each financial year which give a true and fair view of the charity's financial activities during the year
and of ils financial position at the end of the year. In preparing those financial statements, giving a true
and fair view, the trustee's are required to.
setect suitable accounting policies and then apply them consistently-
make judgements and estimates Ihat are Teasonable and prudenl.,
stale whether applicable accounting standards and statements of recommended practice have
been followed. Subject to any departure5 disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless il is inappropriate to presume
that the charity will continue in operation.
The trustee is responsible for keeping accounting records which disclose with reasonable accuracy the
financial position of the charity and which enable them to ascertain the financial position of the charity
and which enable them lo ensure that the financial statements comply with the Charbties Act 2011, the
Charity {Accounts and Reports) 2008 Regulations and the provisions of the trust deed.
The trustee is responsible for safeguarding the assets of the charity and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
Auditors
In accordance with the Charities Act 2011., a resolution proposing that RSM UK Audit LLP be reappointed
as Audilors of the charity will be put lo a general meeting.
Approved by the trustee and signed on its behalf..
HSB
rust Compa
y IUKI Limited
Date...

THE ADA HILLARD CHARITABLE TRUST
REPORT OF THE INDEPENDENT AUDITORS
TO THE TRUSTEE'S OF THE ADA HILLARD CHARITABLE TRUST
Opinion
We have audited the financial statements of The Ada Hillard Charitable Trust for the year ended 5 April
2022 which comprise Statement of Financial Activrties. the Balance Sheet and notes to the financial
Statements, including a summary of significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
{United Kingdom Generally Accepted Accounting Practice).
In our opinion the financi21 statements..
give a true and fair view of the slale of the charity's affairs as at 5 April 2022 and of its incoming
resources and application of resources for the year then ended.,
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordan￿ with the Tequiremenls of the Charities Act 2011.
Basis for oplnion
We have been appointed as auditors under section 144 of the Chaiilies Act 2011 and report in
accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs {UK)l and
applicable law. Our responsibilities under those standards are further desciibed in the Auditor's
responsibilities for the audit of the financial staternenls secb.on of our report. We are independent of the
charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audrt evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slatemenls, we have concluded that the trustee's use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significanl doubt on the charity's ability to
continue as a going concern for a period ol at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilits'es of the trustee with respect lo going cOn￿M are described
in the felevanl sections of this report.

THE ADA HILLARD CHARITABLE TRUST
REPORT OF THE INDEPENDENT AUDITORS
TO THE TRUSTEE'S OF THE ADA HILLARD CHARITABLE TRUST cont.
Other information
The trustee is responsible for the other infomation. The other information comprises the information
included in the Trustee's Report other than the financial slalements and our auditor's report thereon. Ouf
opinion on the financial statements does not cover the other Information and, we do not express any foim
of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information
is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise
appears to be materially misslaled. If we identify such material inconsistencie5 or apparent material
rnisstatements. we are required to determine whether there is a material misstatement in the financial
statements or a material misstatement of the other information. If, based on the work we hav8 performed,
we conclude that there is a material misstatement of this other information, we are required to report that
fact. We have nothing to report in this regard.
Matters on which V￿ are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us
to report to you if. in our opinion..
Ihe information given in the financial statements is inconsistent in any material respect with the
Trustee's Report.. or
sufficienl accounb'ng records have not been kept.. or
the financial statements are not in agreement with the accounting records and returns- or
we have not received all the information and explanations we require for our audit.
Responsibiltties of trustee's
As explained more fully in the Statement of Trustee's responsibilities set out on page 4, the trustee is
responsible for the preparation of the financial statements and for being satisfied that they give a true
and fair view, and for such inlemal control as the trustee determines is necessary to enable the
preparation of financial statements that are free from material misstatement. whether due to fraud or
error.
In preparing the financial statements, the trustee is responsible for assessing the charity's ability to
continue as a going concem. disdosing. as applicable, matters related to going con￿rn and using the
going concern basis of accounting unless the trustee's either intend to liquidale the charity or to ￿ase
operations, or have no realistic altemative but to do so.
Audltor's responsibilitle$ for the audit of the financial statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or efror. and to Issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranlee that an
audit conducted in accordance with ISAS (UK) will always delect a material misslalement when il exists.
Misstatements can arise from fraud or error and are considered materi81 if, individually or in the
aggregate, they could Teasonably be expected lo influence the economic decisions of users taken on the
basis of these financial statements.

THE ADA HILLARD CHARITABLE TRUST
REPORT OF THE INDEPENDENT AUDITORS
TO THE TRUSTEE'S OF THE ADA HILLARD CHARITABLE TRUST cont.
The extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities are instances of non-compliance with laws and regulab'ons. The objectives of our audit are
to obtain sufficient appropriate audit evidence regarding compliance wlh laws and regulations that have
a direct effe¢t on Ihe determination of material amount5 and disclosures in the financial statements, to
perform audit procedures to help idenb'fy instances of non-compliance with other laws and regulations
that may have a material effect on the financial statements, and lo respond appropriately to identified or
suspected noncomplian￿ with laws and regulations identified during the audit.
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement
of the financial slalements due to fraud, to obtain sufficient appropriate audit evidence regaidir¢g the
assessed risks of materia5 misstatement due to fraud through designing and implernenting appropriate
response5 and to respond appropriately to fraud or suspected fraud identified during the audit.
However, il is the Pfimary responsibility of management. with the oversight of Ihose charged with
govemance. to ensure that the entity's operations are conducted in accordance with the provisions of
laws and regulations and for the prevenbon and detection of fraud.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud. the
audit engagement tearn".
obtained an understanding of the nature of the induslry and sector. including the legal and
regulatory framework that the Charsty opeTales in and how the Charity is complying with the legal
and regulatory framework.,
inquired of management, and those charged with governancè, 8bout their own idenlffication and
assessment ol the risks of irregularities, including any known actual, suspected or alleged
instances of fraud-,
discussed matters about non-compliance with laws and regulations and how fraud might occur
including assessment of how and where the financial statements may be susceptible lo fraud.
As a result of these procedures we consider the most significant laws and regulations that have a direct
impact on the financial statements are FRS 102, Charities SORP IFRS 102}, Charities Act 2011, and the
charity's governing document. We performed audit procedures to detect non-compliances which may
have a material impact on the financial statemenls.
There were no significant laws and regulations that have an indirect impact on the finanoial stalements.
The audit engagement team identified the risk of management override of controls, as the area where
the financial slalements were most susceptible lo material misstatement due lo traud. Audit procedures
performed included bul were not limited to testing manual journal entries and other adjustments,
evaluating the business rationale in relation to Significant, unusual transactions and Ifansactions entered
into outside the normal course of business and challenging judgmenls and estimates.
A further description of our responsibilities for the audit of the financial statements is provided on the
Financial Reporting Council's website al http'.Ilwww.frc.org.ukJauditorsresponsibilities. This description
forms part of our audrtor's report.

THE ADA HILLARD CHARITABLE TRUST
REPORT OF THE INDEPENDENT AUDITORS
TO THE TRUSTEE'S OF THE ADA HILLARD CHARITABLE TRUST cont.
Use of our report
This report is made solely to the charity's trustee as a body, in accofdance with the Charities Act 2011.
Our audit work has been undertaken so that we might slate lo the charity's trustee those matters we are
required to state to them in an auditor's report and for no other purpose. To the fullest extent pemiitted
by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
trustee as a body, for OUT audjl work, for this report, or for the opinions we have fomied.
Lfm AAJ*LLP
RSM UK Audit LLP
Statutory Auditor
Chartered Accountsnts
Highfield Court
Tollgate
Chandlers Ford
Eastleigh
Hampshire
S053 3TY
Date.. 03102123
RSM UK Audit LLP is eligible to act as an auditor in lemis of section 1212 of the Companies Act 2006.

THE ADA HILLARD CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
AT 5 APRIL 2022
Notss
Unrestrlcted
funds
EndowTrEnt
funds
Totsl
2022
Total
2021
Incon
Investment I￿Ome
285.386
28S,386
320.058
Total incoTh
285.386
285.386
320,058
Expenditure
Cost of generatirg funds
Charita￿e activiti.es
66,397
87,227
66,397
376,933
45.6
373.8A8
289.7C
Totsl expenditure
289,7L
153,824
443,330
419,564
Net incon*llgxpenditurel incurred
before transfers and other
recognised gains and losses
14,3201
1153,6241
{157,9441
199.5(bl
Realised and unrealised
gainslllossesl on investments
376,354
376.354
2.487.570
Net Incon*llexpendlturel for the
year
14,3201
222,730
218,410
2.388,C64
Tr￿sfer between fvnds
16,1381
6,138
Funds invested at 6 ￿ri12021
2.741
13,322,903
13,325.644
10.937.580
Funds Invested at 5 Ppril 2022
(7,71n
13,551,771
13,544,054
13,325.644

THE ADA HILLARD CHARITABLE TRUST
BALANCE SHEEr
AS AT 5 APRIL 2022
Notes
Unrestricted
funds
Endowm)ent
funds
Totsl 2022
Totsl 2021
Fixed a￿ts
Investments
9,975
13,572.422
13,582.397
13,425.947
Current assets
Debtors
1,276
1,276
1,276
1,276
Creditors.. anK)unts falling
due withln one year
I8.￿8
20,651
39,619
100,303
Net current liabillties
{17,6921
120,6511
138.343}
{100.3031
Net assets
7.717
13,551.771
13,544,054
13.325.644
Funds
10
7,717
13.551,771
13,544,054
13,325,644
Approved by the Trustee and authorised for issue on
and signed on their behalf
qf
rust Company (UK) Limited
-10-

THE ADA HILLARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
Accounting pollcles
Accounting convention
The financial statements have been prepared in accordance with the Slatemenl of Recommended
Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} issued on 16
July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland IFRS 1021 and the Chaiities Act 2011 and UK Generally Accepted Practice as it applies
from 1 January 2015. The trust is a public benefit entity and has therefore applied the relevant
public benefit requirements of FRS 102.
The financial statements have been prepared to give a 'true and fair, view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a
'Irue and fair view,. This departure has involved following Accounting and Reporting by Charrties
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and
Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has
since been withdrawn.
The accounts are prepared in sterling, which is Ihe functional and presentational cuffency of the
chanty. Monetary amounts in these financial statements are rounded to the nearest £.
Going concem
At the time of approving the accounts, the Trustee has a reasonable expectation that the charity
ha5 adequate resources lo continue in operational existence for the foreseeable fvture. Thus, the
Trustee continues to adopt the going concern basis ol accounts'ng in preparing the accounts.
The trusfs investments are sufficient to cover its fixed cosls for a period of at least twelve months
even in the event of a significant fall in investment values. Therefore, the Trust￿ has concluded
that the going concern basis remains appropriate.
Income
All incoming resources are recognised once the charity has entitlement to the resources, il is ￿rtain
that Ihe resources will be received, and the monetary value of incoming resources can be
measured with sufficient reliability.
Investment income is accounted for in the period in which the charity is entitled to receipt. Income
is the gross value of dividends and interest received after reclaiming ally lax credits that are
available. Dividends due on quoted investments that are ex4ividend at the balance sheel date
are accrued a5 income.
-11-

THE ADA HILLARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
Accountlng policSe$ cont.
Expenditure
Expenditure is included on an accruals basis. Liabilities are recognised as resources expended as
soon as there is a legal or constructive obligalion committing the charity to the expenditure.
Costs of generating funds comprise those costs directly attributable to managing the investment
portfolio and raising investment income.
Charitable expenditure includes grants payable in furtherance of Ihe charitable objectives of the
charity. It includes both costs that can be allocated directly lo such activities and those costs of an
indirect nature necessary to support them.
Support costs are those fynctions that assist the work of the charity but do not directly undertake
charitable activity. Support costs include governance costs which are costs associated with
meeting the constitutional and stalulory requirements of the charity.
Fixed asset investments
Inveslments are included at closing fair value at the balance sheet date. Any gain or loss on
revaluation or disposals Ihroughoul the period is taken to the Statement of Financial Aclivilies.
Financial instruments
The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, of FRS
102 to all of its financial instruments.
Financial instruments are Tecognised in the charity's balan￿ sheet when the chanty becomes party
to the contractual provisions of the instrument.
Financial assets and liabilitses are offset, with the nel amounts presented in Ihe financial
statements. when there is a legally enforceable right lo set off the recognised amounts and there
is an intention to settle on a net basis or to realise the asset and setue the Iiabilrty simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured
at transaction piice including tfansaction costs and are subsequenlly carried al amortised cost
using the effective interest method unless the arrangement conslilutes a financing transaction,
where the transaction is measured at the present value of the future receipts discounted at a market
rate of inlerest. Financial assets classified as receivable within one year are not amortised.
Trade and other debtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid nel of any trade discounts due.
-12-

THE ADA HILLARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2022
Accounting policies cont.
Impairment of financial assets
Financial assets, other than those held at fair value through income and expenditure, are assessed
for indi¢ators of impairment al each reporting date. Financial assets are impaired where there is
objective evidence that, as a result of one or more events that occurred after the initial recognition
ol the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the
present value of the estimated cash flows discounted at the asset's original effective interest rate.
The impairment loss is recognised in net incomel{expendilure) for the year.
If there is a decrease in the impainnent loss arising from an event occurring after the impairment
was recognised, the impaiment is reversed. The reversal is such that the current carrying amount
does not exceed what the carrying amount would have been, had the impairment not previously
been recognised. The impairment reversal is recognised in net incomellexpenditurel for the year.
Dere¢ognitlon of financial assets
Financial assets are derecognised only when the contfaclual rights to the cash flows from the asset
expire or are settled. or when the charity transfers the financial asset and subslanlially all the risks
and rewards of ownership to another entity, or if some significant risks and rewards of ownership
are retained but control of the asset has transferred to another party that is able lo sell the asset irs
its entirety to an unrelated third party
Basic financial Ilabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the
arrangement constitutes a financing transaction. where the debt instrument is measured at the
present value of the future receipts discounted at a market rate of interest. Financial liabilities
classified as payable within one year are not amortised.
Liabilities are recognised within the financial statements in respect of all expenditure for which the
entity has a measurable obligation, be it constructive or legal, at the balance sheet date. Any
expenditure which is cofflmitted to, bul not measLtrable at this time, is disclosed within the notes to
the financial statements as a contingent liability.
Derecognltion of financial liabilitles
Financial liabilities are derecognised when the Charity's contractual obligations expire or are
discharged or cancelled.
Reallsed galns and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains
and losses on investments are calculated as the difference be￿een sale proceeds and opening
fair value lor purchase date if later). Unrealised gains and losses are calculated as the differen
between the fair value al the year end and opening fair value lor purchase date if later). Realised
and unrealised gains are not separated in the Statement of Financial Activits'es.
-13-

THE ADA HILLARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2022
Investment income
2022
2021
Dniidends - UK equitEs
DwKlends- UK unit trusts
Dividends - Foreign equit￿8
knterest- UK fixed interest securities
hteresl- Overseas unrt trusls
Inleresl- Cash dep)sils
Other
121.306
123,949
76,418
2,748
85,262
58,817
23,479
111,795
123
1.811
285,386
320.058
Costs of generating funds
2022
2021
Investment management fees
66,397
45,696
Charitable activitie5
The charity undertakes its charitable activities through granl making, and awards grants lo a
number of charities in accordance wf(h its charitable objectives.
Other
allo¢atsd
cgsts
Grant
funded
Support
costs
Toto12022
Total 2021
Gen8r31 charitable acti￿￿$
272,142
17,564
87.227
376 933
373.868
Other allocated costs of £87,227 (2021.. £83,834) principally comprise management fees charged
by the Corporate Trustee.
During the year 84 grants totalling £272.14212021'. 84 grants totalling £280,312} were awarded lo
institutions in accordance with the terms ol the governing document.
-14-

THE ADA HILLARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STA TEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
Analysis of grants
During the year the following grants were awarded to charitable institutions in accordance with the
terms of the governing document. No 9iants were awarded to individuals in either year.
2022
Nunl)er of
9rants
2021
I￿Unt
Nuthr
of grant$
Institution
knunt
Cancer Research UK
Disabled Living Foundation
The British Heart Foundatron
The National Trust
The Northern Police Convalescent Home
The Royal Aj'r Force Benevolent Fund
The Royal National Insbtule for Blind
12
12
12
12
12
12
12
38,8n
38,877
38,877
38,8TI
38,878
38,878
38,878
12
12
12
12
12
12
12
40,044
40,044
40,045
40,045
40.045
40,045
272.142
280.312
Support costs
Support costs include those incurred in the governance of the charity and its assets and are
primarily associated with constitutional and statutory requirements.
2022
2021
countsncy fees
Jjditorfs reMUTrerat￿n
9,763
7,800
6,680
17,563
9,724
Govemance costs are disclosed inclusive of VAT.
-15-

THE ADA HILLARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2022
Investments
2022
2021
Securit+es fair value at 6 Wi'l 2021
13,157,649
lo.7(￿,577
quisrtt￿s at ¢osl
Sa￿5 prcreeds frcm dispo$als
CharKJe in value
11,587.957
111,895,784)
376,354
15,507,971
115,544.4691
2,487.570
S8curiks lair vatue at S April 2022
13,226.176
13,157,649
hweslments at f&r value comprised of."
UK FtKed htere5t SeCurit￿s
Overseas Fixed knterest SecuritEs
UK EquitEs
Overseas Equ￿e5
ternats've Investment
1.141,597
5.404.203
552,198
4,506,716
1.621.462
4.448.247
6,082.109
1,256,816
98.049
1,272.428
13,226,176
13.157.649
SeCUr￿es historical c05t at S fvpril 2022
13,198.553
12,209.816
The following individual investments are considered rnaterial lover 5Vo of portfolio by value) in the
context of the portfolio..
HSBC Corporate 8ond - portfolio value of 4.940/012021.. 5.920A)
HSBC UK Gilt Index- portfolio value of nilO/o (2021.. 5.66'101.'
HSBC Emerging Market Local Z debt- portfolio value of 4.270/0 (2021.. 5.190/0).,
HSBC Ameiican Index- portfolio value of 1 59 /4 (2021.. 7.14 % )-
Ishares - porrfolio value of 4.260/0 {2021'. 8.22 % }',
HSBC Global Real Estate Equity - porrfolio value of 2.34Qkn {2021.. 9.68C/>o)-
HSBC Global Government- portfolio value of 9.27ty/012021.' less than 5'/01,'
Charities Property Inc- portfolio value of 5.170h (2021.. less than 5 % }.
2022
2021
AM 5ecurty investments held a￿ listed securities.
Securty nvestmenls
Cash investrnents
13,226,176
356,221
13,157,649
268.298
13,582,397
13.425.947
-16-

THE ADA HILLARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
Debtors
2022
knru&J income
1.278
Creditors: amounts falling due within one year
2022
2021
Accruals
39,619
100.303
10. Funds
Unrestricted funds comprise those funds which the trustee's are free to use in accordance with the
charitable objects.
The expendable endowment lunds represent those assets. which are held permanently by the
charity, principally investments. Income arising on the endowment fund can be used in accordance
with the objects of the charity and is included as unrestricted income. Any capital gains or losses
ansing on the investments form part of the fund. Investrnenl management fees and certain
management and administration cosls are charged against the fund in accordance with the leims
of the declaration of trust_ The Iruslee's have the power to pay or apply the whole or any part of
this fund for or towards charitable purposes.
The trustee has the power lo transfer funds between unrestricted and endowment funds.
-17-

THE ADA HILLARD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
11. Trustee's remuneration and related parties
The corporate trustee is a small wholly owned subsidiary of HSBC UK Bank plc. The following is a
summary of transactions with this entity..
2022
2021
Management fees- C(xwrate Trustge
vestmwrt management fees
87,227
66,397
83.834
45.6
At 5 April 2022, £20,648 (2021.. £86,156) was owed to HSBC Trust Company (UK) Limited.
The above fees include VAT that is irrecoverable by the charity. In addition, as a result of the
acquisition and disposal of investments, the charity pays transaction charges to HSBC Bank Plc.
The charges are calculated on a sliding seale at a percentage of the transaction value plus VAT
and are added to or deducted from the cost of the investments or the disposal proceeds in
accordance with UK standard accounting practice.
No trustee expenses have been incurred during the year or in the previous year.
-18-