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← The Henry And Dora Needler Memorial Trust

2024-09-30-accounts

REGISTERED COMPANY NUMBER: 06639315 (England and Wales) REGISTERED CHARITY NUMBER: 1125229

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THE HENRY AND DORA NEEDLER MEMORIAL TRUST

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE HENRY AND DORA NEEDLER MEMORIAL TRUST REPORT OF THE TRUSTEES for the Year Ended 30 September 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective | January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and activities

The objectives for which the charity is established are:

a) the provision of care to those with life threatening illnesses and in particular the promotion of the hospice movement in general and the work of Dove House Hospice of Chamberlain Road, Hull, HU8 8DH (registered charity number 509551) in particular.

b) the relief of poverty

c) the advancement of education

d) the advancement of religion

e) other purposes beneficial to the community not encompassed by the preceding objects

within the United Kingdom in general and the East Riding of Yorkshire in particular.

The trustees wish to meet these objectives by supporting Dove House Hospice and by making other similar charitable donations. The trustees have resolved to make donations to charities based in Hull and East Yorkshire, in accordance with the settlor's wishes, and to those charities predominantly concerned with seriously and terminally ill children and adults although other similar charities will also be considered.

The trustees have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance as published by the Charities Commission.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In accordance with their current policy on distributions, the Trustees made donations to Dove House Hospice £5,000, Osprey £5,000, The Tribune Trust £3,000, The No Way Trust £4,000, The Teenage Cancer Trust £5,000, Jenny Ruth Workshop £3,750, Starlight Children's Foundation £4,000, Macmillan Cancer Relief £2,500, Kids Trust £3,500 and The Forward Trust £1,500, during the year. All recipients were registered charities.

FINANCIAL REVIEW

Investment policy and objectives

The charity acquired residential properties from the estate of the late G H Needler deceased on the Ist March 2010. The income derived from this investment is used to achieve the stated objectives of the charity.

The value of the investment properties varies with the trends in the housing market. The Trustees review the situation with their property advisors on an annual basis and obtain full valuations every five years.

Other resources were invested through Independent Financial Managers and reviewed regularly.

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THE HENRY AND DORA NEEDLER MEMORIAL TRUST

REPORT OF THE TRUSTEES

for the Year Ended 30 September 2024

a

FINANCIAL REVIEW

Reserves policy

The charity reserves are maintained at such a significant level due to the initial value of the properties from the estate of Mr G H Needler. In addition in order to generate income in times where returns on investments are low, the trustees have determined that the high levels of reserves are required. The income generated by the charity will be donated to charities which meet the charity's objectives and will be at the trustees’ discretion.

The trustees policy is to distribute its income annually on projects which meet its objectives.

FUTURE PLANS

The trustees will continue to generate income on behalf of the charity and will continue to make donations to charities which satisfy the charity's objectives.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are appointed for indefinite terms, usually upon the retirement of existing trustees. Appointment of replacement trustees are agreed between the existing trustees.

Organisational structure

The charity has no employees of its own. Raworths LLP Solicitors currently provides legal and secretarial services to the charity. Sowerby Chartered Accountants LLP currently provide accountancy and taxation services to the charity.

Induction and training of new trustees

Existing trustees select new trustees from people known to them that they consider to have suitable knowledge and expertise. New trustees are provided with a copy of the Charity Commission guidance, Responsibilities of Charity Trustees, which provides guidance on what is involved in being a charity trustee.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06639315 (England and Wales)

Registered Charity number

1125229 Registered Beckside Court Annie Reed Road Beverley HUI7 OLF

Registered office

Trustees Ms C P Hedges Solicitor S Scargill Accountant ST Larard Chartered Surveyor JPM Kay

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THE HENRY AND DORA NEEDLER MEMORIAL TRUST

REPORT OF THE TRUSTEES

for the Year Ended 30 September 2024

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REFERENCE AND ADMINISTRATIVE DETAILS

Company Secretary Ms C P Hedges

Independent Examiner

Elizabeth Blanchard Sowerby Chartered Accountants Beckside Court Annie Reed Road Beverley East Yorkshire HUI7 OLF Solicitors Raworths LLP Solicitors Eton House 89 Station Parade Harrogate HGI |HF

INCORPORATION

The charity was incorporated on the 7th July 2008.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 25 June 2025 and signed on its behalf by:

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HENRY AND DORA NEEDLER MEMORIAL

TRUST i

Independent examiner's report to the trustees of The Henry and Dora Needler Memorial Trust (‘the Company’)

| report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving

me cause to believe:

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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Elizabeth Blanchard

Sowerby

Chartered Accountants Beckside Court Annie Reed Road Beverley East Yorkshire HUI7 OLF

25 June 2025

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THE HENRY AND DORA NEEDLER MEMORIAL TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 30 September 2024

ee ee ee ee
2024 2023
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Investment income 2 49,145 55,836
EXPENDITURE ON
Raising funds
Investmentmanagement costs 3 53,784 23,253
53,784 23,253
Charitable activities 4
Donations 37,250 35,000
Governance costs 12,94 11,667
Total 103,975 69,920
Net gains on investments 59,042 76,673
NET INCOME 4,212 62,589
RECONCILIATION OF FUNDS
Total funds brought forward 1,179,119 1,116,530
TOTALFUNDSCARRIEDFORWARD 1,183,331 1,179,119

CONTINUING OPERATIONS

The results for the year derive from continuing activities and there are no gains or losses other than those shown above. A Statement of Total Recognised Gains and Losses has not been prepared.

The notes form part of these financial statements

THE HENRY AND DORA NEEDLER MEMORIAL TRUST

BALANCE SHEET 30 September 2024

2024 2023
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Investments
Investments 8 542,720 362,829
Investment property 9 590,240 658,240
1,132,960 1,021,069
CURRENT ASSETS
Debtors 10 53,425 161,748
CREDITORS
Amounts falling due within one year II (3,054) (3,698)
NET CURRENT ASSETS 50,371 158,050
TOTALASSETS LESS CURRENT
LIABILITIES 1,183,331 1,179,119
NETASSETS 1,183,331 1,179,119
FUNDS
Unrestricted funds 1,183,331 1,179,119
TOTALFUNDS 1,183,331 1,179,119

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

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continued...

THE HENRY AND DORA NEEDLER MEMORIAL

TRUST

BALANCE SHEET- continued 30 September 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 25 June 2025 and were signed on its behalf by:

S Scargill - Trusted

The notes form part of these financial statements

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THE HENRY AND DORA NEEDLER MEMORIAL TRUST

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 September 2024

I. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective | January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Donations

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the donation which remain in the control of the charity.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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continued...

THE HENRY AND DORA NEEDLER MEMORIAL TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 30 September 2024

2. INVESTMENT INCOME
2024 2023
£ £
Rents received 40,050 49,819
Interest received 1,818 147
Dividends received 7,277 5,870
49,145 55,836
3. INVESTMENT MANAGEMENT COSTS
2024 2023
£ £
Insurance 1,661 2,254
Rent collection 4,971 5,063
Property repairs 38,943 9,191
Council tax 662 3,598
Support costs 7,547 3,147
53,784 23,253
4. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 5) Totals
£ £ £
Donations 37,250 - 37,250
Governance costs - 12,941 12,941
37,250 12,941 50,191

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continued...

THE HENRY AND DORA NEEDLER MEMORIAL TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 30 September 2024

5. SUPPORT COSTS
Governance
costs
£
Investment management costs 7,547
Governance costs 12,941
20,488

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.

  1. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Investment income 55,836
EXPENDITURE ON
Raising funds
Investment management costs 23,253
23,253
Charitable activities
Donations 35,000
Governance costs 11,667
Total 69,920
Net gains on investments 76,673
NET INCOME 62,589
RECONCILIATION OF FUNDS
Totalfundsbroughtforward 1,116,530

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continued...

THE HENRY AND DORA NEEDLER MEMORIAL TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 30 September 2024

7. COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
TOTAL FUNDS CARRIED FORWARD 1,179,119
8. FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At
 October 2023
Additions 303,467
Disposals (156,953)
Revaluations 33,377
At 30 September 2024 542,720
NET BOOKVALUE
At 30 September 2024 542,720
At 30 September 2023 362,829
There were no investment assets outside the UK.
Cost or valuation at 30 September 2024 is represented by:
Listed
investments
£
Valuationin2024 542,720

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continued...

THE HENRY AND DORA NEEDLER MEMORIAL TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 30 September 2024

9. INVESTMENT PROPERTY
£
FAIRVALUE
At
 October 2023 658,240
Disposals (68,000)
At 30 September 2024 590,240
NET BOOKVALUE
At 30 September 2024 590,240
At 30 September 2023 658,240
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Larards Property Management Ltd 8,394 1,268
Raworths LLP 4,583 131,563
Sundry debtors 314 6,995
Titan Deposit Account 21,856 12,251
Titan Income Account 18,278 9,671
53,425 161,748
If. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Accrued expenses 3,054 3,698
12. RELATED PARTY DISCLOSURES
C P Hedges is a director of Raworths LLP Solicitors, who provide legal services to the charity. During the year,
£5,871
(2023 - £6,254) was paid to Raworths LLP for legal services. The amount due by the charity to Raworths LLP Solicitors at
30thSeptember2024was£Nil(2023-Nil).

S Scargill is an employee of Sowerby FRS LLP, who provide accountancy services to the charity. During the year, £5,270 (2023 - £3,250) was billed by Sowerby FRS LLP for accountancy services. The amount due by the charity to Sowerby FRS LLP as at 30th September 2023 was £3,054 (2023 - £3,700).

All of the transactions were carried out on normal commercial terms.

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THE HENRY AND DORA NEEDLER MEMORIAL TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 30 September 2024

13. GUARANTEE

The liability of the members is limited.

Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the assets of the company in the event of it being wound up while he is a member or within one year after he ceases to be a member for payment of the debts and liabilities of the company contracted before he ceases to be a member and of the costs, charges and expenses of winding-up and for the adjustment of the rights of the contributories among themselves.

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THE HENRY AND DORA NEEDLER MEMORIAL TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 September 2024

2024 2023
£ £
INCOMEAND ENDOWMENTS
Investment income
Rents received 40,050 49,819
Interest received 1,818 147
Dividends received 7,277 5,870
49,145 55,836
Total incoming resources 49,145 55,836
EXPENDITURE
Investment management costs
Insurance 1,661 2,254
Rent collection 4,971 5,063
Property repairs 38,943 9,191
Council tax 662 3,598
46,237 20,106
Charitable activities
Donations 37,250 35,000
Support costs
Governance costs
Brokers fees 7,547 5,400
Independent examiner 1,374 1,590
Accountancy fees 3,896 1,660
Legal fees 5,871 4,364
Estate agent fees 1,800 1,800
20,488 14,814
Total resources expended 103,975 69,920
Netexpenditure before gains and losses (54,830) (14,084)
Realised recognised gains and losses
Carriedforward (54,830) (14,084)

This page does not form part of the statutory financial statements

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THE HENRY AND DORA NEEDLER MEMORIAL TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 September 2024

2024 2023
£ £
Realised recognised gains and losses
Brought forward (54,830) (14,084)
Realised gains/(losses) on fixed asset investments 25,665 26,868
Net(expenditure)/income (29,165) 12,784

This page does not form part of the statutory financial statements

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