IM irwinmitchell HILARY TANGYE TRU REGISTERED CHARITY NUMBER 1128342 COMPANY REGISTRATION NO.. 06771566 ENGLAND & WALES FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 202 (Rel.. TST105309919-11
HILARYTANGYE TRUST REGISTERED CHARITY NO. 1128342 COMPANY REGISTRATION NO: 06774566 ENGLAND & WALES Index to thg Financial Statements for thg ear ended 30 November 2024 Pa Tfuslees, report Independent Examin8V8 Reporl Balance Sheet Statement ol Financial Activities 8-13 Notes lo the Financial Slalements 14-19 Schedule of Inveslments
ANNUAL REPORT OF THE TRUSTEES Forthe year ended 30 November 2024 Full name of Charity.. Hilary Tangye Trust Nature of governlng document.. Deed dated 11 December 2008 Charlty Number: 1128342 Company Numbgr., 771566 Trustees: T Thornlon-Jones A D S Weston EMCNu¥se Reglstered Address: Thomas Eggar House, Friary Lane. Chichester, P019 1 UF Solicitors: Irwin Mitchell LLP, Thomas Eggar House, Friary Lane, Chichester, Wesl Sussex, P019 1 UF Independent examiner: Carpenter Box, Piper House, 4 Duke Court, Bognor Road, Chichester. West Sussex, P019 8FX Investment Managers: Ralhbone Brothers Plc. 8 Finsbury Ci¥cus, London EC2M 7AZ The accounts have been prepaTed in accordance with the accounting policies sel out in note 110 the accounts and comply with the trust's Memorandum and Articles of Association, the Companies Act 20D6 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in a¢eordan¢e with the Financial reporting Standard applicable in the UK and republic of Ireland IFRS 102)° 18pplying amendments which are mandatory for accounting periods commencing from 1 January 2019 early) Objects and activities The objects of the Charily, inter alia. are.. (a) To promote humane behaviour towards animals by providing appropriate care, protection, Irealmenl and securily for animals which are in need of care and allenlion by reason of sickness, mallrealment. poor ¢ir¢umslances or ill usage and lo educate the public in mallers pertainin9 to animal welfare in general and the prevention of cruelly and suffering among animals. {b) To prevent and alleviate CTuelly lo farm and other animals. Icl To advance the education of the public concerning the care and Irealmenl of animals and lo promote and advance public education in animal sentence, ethology. and impli¢alions of farming practices on human health and ecology, including the study of man's activities and the relationship of those aclivilies lo the biosphere of earth. The objectives for a particular year are shaped by these aims and reference is made lo the needs, finan¢ial and other, of the Charily. The Iruslees detemiine the donations andlor financial support to be made lo the Charity. The Iruslees have paid due regards lo guidan issued by the Charity Commission in decidin9 what activities the trust should undertake. GA.. 5257352 1
Powers of investment . The Irijslees have all the powers of investment of an absolute beneficial ownerand in view of the current nature of the investments they do not hold a formal slalemenl summarizing their investment policy. Flnanclal review, reserves and Investment policies . The intention of the Iruslees is lo dislribule all ils income in each financial year and ultimately lo distribute the majorily of ils unreslricled reserves in accordance with the Charity's objectives. The trustees have now appointed Investment Managers lo manage the Charily's funds and will review their performance on an annual basis. The aim will be lo relain the capital ol these funds and only spend future investment income generated from it. Some reserves need lo be retained lo cover the Charily's expenditure, and potential shortfall of the Charity. During the year incoming resources lolalled £60,06312023.. £63,959) and resources expended lolalled £85,30012023.' £83,043 and there were other recognised gains of £218,753 {2023.. losses of £15,930>. As a result, Ihe fund balance carried foNard al 30 November2024 was £2.267.68012023.' £2,074,164}. Achievements and performance During the year rep?al donations were made to fourteen charities. 11 is anticipated that the trustees will make repeal donations annually adding further charities if funds allow. Rlsk management '. The Iruslees review the major risks that the charity faces on a regular basis and believe that whilst following the reserves policy above there will be sufficient resouices in the event of adverse conditions. The Iruslees have also examined other operational and business risks, which they fa and confirm that they have established systems lo miligale the risk Plans for future periods The Iruslees will continue lo work closely wilh other similar charities lo identify suitable projects to support. GA- 5257352 1
Structure, governance and management.. The trust is a company limited by guarantee. incoiporaled on 11 December 2008 and registered as a charity on 2 March 2009. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under ils articles of association. The Iruslees. who are also the directors for the purposes of company law, and who served during the year were- T Thornlon-Jones A D S Weston EMCNurse There were three Iruslees during the whole ofthe year ended 30 November 2024. All trustees undertook an initial briefing and induction programme. Any fLtlure Iruslees would undergo similar induction programme. The trustees fully understand the importance of operating to the highest standards of corporation governance lo ensuie the public have confidence in the Chaiily. The Charity's Memorandum and Articles of Association provides th81 the Iruslees have wide powers lo apply funds for ¢harilable purposes. The Ifuslees meet regularly to monitor the Charity's activities and to airange fund raising aclivilies. One of the trustees prepares and circulates to the other trustees an vpdale on the Trust's field activities, rinancial stalvs. and legal and adminislralive matters every six months. None of the Iruslees has any beneficial inleresl in the company. All of the trustees are member of the ompany and guarantee lo contribute £1 in the event of a winding up. The trustees, report was approved by the Board ol Trustees Tim Thornton Jone8- Trustee Daled..../.£ GA.. 5257352 1
Tru5tees' responsibllltles in relation to the flnanclal 5tatements'. The Iruslees, who are also the directors of Hilary Tangye Trust for the piirpt)898 of company law, are responsible for prèparing the Trustees. Report and the accounts in a¢cord8nce with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company Law requires the Iruslees lo prepare accounts for each financial year which give a true and fair view of the slate of affairs of the trust and of the incoming resources 2nd application of resources, including the income and expenditure, of the charitable company for the year. In prepartng these accounts, the Iruslees are required to= Select suitable accounting policies and then apply them consislenlly., ObSee the methods and principles in the Charilies SORP Make judgements and eslimales that are reasonable and prudent., Slate whether applicable UKAccounling Standards have been followed, subject to any maler¢al departures disclosed and explained in the accounts,. and Prepare the accounts on the ongoing conrn basis unless il is inappropriate lo presume that the trust will continue in operation. The trustees are responsible for keeping adequate accounting Tecords that disclose wllh reasonable accuracy al any lime the financial position of the trust and enable them lo ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. GA.. 525735LI
Page 5 HILARY TANGYE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HILARY TANGYE TRUST I report lo the Trustees on my examination of thè finandal statements ol Hilary Tangye Tiusl (the Charity) for the year ended 30 November 2024. R6spDnslbllltles and basls of report As th8 TIu5tees ol the Charity land akn ils direclors for the purposgs of (XHllpany 18wI you are sponsible for the preparation ol the financial slatsments in accordance with the requ1Ments ol the Companres Ac12006 (the 2006A¢ll. Having Satisfied myselllhat the financia1 statements ol the Charty are not required io be audiied under Part 16 pf the 20C6 Act and are eligible for indep8nd8nl examination, I report in respect ol my examination olthe Charity'sf nancial stst8m8nls carried out under sedion 145 olthe Charities Act2011 Ithe 2011 Adl. In carrying oulmy examination I have followed all the applicable direclions given by t Charity Comrnis5ion under sedion 14515llbl ol the 2011 Act. Indèpendent •xamin8r'$ statemènt I have completed my examination. I confirm that no matters have come to my attention in nn&£lIon with th8 8xamination giving me cause to believe in any material respect.. accounting rewrd8 weie not kept in respect of the Charity as qUired by section 386 of the 2006 Act., 01 the financial $tatem8nt5 do not accord with those records-, or the financial statements do not oomply with the accounting requirements of section 396 of the 2(K)6 Act other than any iequiiernent that the accounts give a true and fair view which is llol a rnalter consid8red as part ol an independenl examination.. or the financial statements have not bèèn prepared in accordan with the methcKls and prinoiple$ of the Statement ol Recommended Practi lor awounling and r8POrting by ChalIeS applicable to charities pparIng their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and hav8 come across no other mattels in connection with the examination to which attention should be (Srawn in this report in order to enable a PTopef und8tslanding ol the rinancial statements to be reached. Clalre Norwood Bsc FCAATII Carpenier Box Piper House 4 Oukes Court Bogllor Road Chichester Wesl Sussex P0198FX 2410612025 Dated.. GA.. 6672023 1
Pagè 6 HILARY TANGYE TRUSI ISTERED CHARITY t40. 1128342 Balance Sheot 88 at 30 Novem r 2024 Nottr 8 at 30.11.24 Fixed Assels Inveslments al value 2,246,727.03 2.046.062.64 CurrenlAs5e15 Oeblors Cash 12 13 25,200.97 25,200.97 32.065.04 32.065.04 LSabSlliles falllng due wimln 12 monlhs Credilorg 14 4.248.00 3.963.77 Nel currenl as8e18 Tolal assets less Cufrenl Ilabllilies 20.952.88 £ 2.267.679.91 28.101.27 2.074.163.91 Fund balance as al 30.11.24 Unreslricled E 2,267,679.91 2,074,163.91 The cotnpany 15 enlilled lo the exempllon Irom ihe audil requlremenl contalned In secllon 477 of IhÈ ComparKe5 Act 2006. for the year ended 30 November 2024. No mernber of the company has deposlled a nollGe. pursuant lo secllon 476, requlrfng an audll of these accoun15. The Iru51ees' respon5ibililie5 forensurlng Ihat lh8 charity keeps arcounling records which comply vAlh secllon 388 ofihe Act and lor preparing accounis whlch glve a Itue and fair viewof Ihe stale ofaHalrs ofihe company a5 al the end of Ihe financlal year and of Ils Incoming re50vrces. induding its income and expendllure. f(K Ihe finandal year in accordan wlh Ihe requlremenis of seclion 394 and 395 and whlch oiherwlse cornply th thè requiretnenls of ihe Companles Act 2Q06 relating lo aGGoun15. so far as appllcable lo the company These accounls have been prepared Sn accordance th the provisions applicable lo companles subl&ct lo11* STnall wtnpanle5' reglffle The financlal 518le behalf by hls by lh8 board of trusiees and aulhorlsed for Issue on....... .and slgned on Its TIM Thotnlon Jones- TFU Cornpany Reglslr&Uon No. 06771568 The notes on pages 8 10 13 form part oflhese accounts
Page 7 HILARY TANGYE TRUST REGISTERED CHARITY NO.1128342 Statement ol Fln I l Actlvltles for the ear ended 30 November 2024 Year ended 30.11.24 Year ended 30.11.23 Note INCOME & EXPENDITURE Incoming Resources Gross Investment Income 60.063.04 63.959.44 60,063.04 63,959.44 Resources expended Raising Funds Invesltn&nl managemenl cosis 115,828.88) (14,131.811 Charltable aclivilies Total Resource5 Expended 69.471.00 185,299.881 {68,911.00 {83,042.811 Net GalnsllLossesl on Investments Reallsed GainllLossl on sale of investmen18 Unre81ised ILossllGain on revalualion ol inveslmenls Net lexpendlturellincoma 15,613.59 203,139.25 193,518.00 (19,406.22} 3.476.49 135,013.101 Fund b81oncè broughl fOard 1.12.23 2,074,163.91 2.109.177.01 Fund balanca carrled fOard 30.11.24 £ 2.267,679.91 £ 2.074,163.91 None of the Charily's activities were acquired OT dis¢onllnued durtng the above two fiscal year8. The Charity has no r8eognlsed galns or losses other than th089 dealt wth In the Statement ol Financial Aclivities. The notes on pages 8 lo 13 fomi part oflhe8e a¢counls.
Pag8 8 HILARY TANGYE TRUST REGISTERED CHARITY NO. 1128342 Notes to the Accounts for th8 ear ended 30 November 2024 1 ACCOUNTING POLICIES The Hilary Tangye Trust is a private company limileil by guarantee incorporaled in England and Wales. The registered office is Thomas Eggar House, Friary Lane, Chichester. P019 1UF. 1.1 ACCOUNTING CONVENTION These accounts have been prepared In accordance with the l¥u$t's memorandum and articles of association, the Companies A¢1 2006 and 'AountIng and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 {applying amendments which are mandatory for ac¢ounling periods commencing from 1 January 20191. The trust is a Public Benefit Enlily as defined by FRS 102. The TNSI has taken advanlago of the provisions in the SORP for charities applying FRS 102 not lo prepare a Slalemenl of Cash Flows. The acwunls are prepared in sterling, which is the functional currency of the charity. The accounts have been prepared on the historical cost convention modified for the revaluation ol inveslmenls. The principal accounting policies adopted are sel out below. 1.2 GOING CONCERN Al the lime of approving the accounts. the trustees have reasonable expectation Ihal the charity has adequate resources lo continue in operaliorial existence for the foreseeable future. Thus the Iruslees, continue to adopt the going concern basis of accounting in preparation of the accounts. 1.3 CHARITABLE FUNDS & FUND ACCOUNTING Unreslricled funds are available for use al the discretion ol the Iruslees in furtherance of their charitable objectives unless the funds have been designated for other purposes. 1.4 INCOMING RESOURCES Income is reco9nised when the trust is legally enlilled to il after any performanee conditions have been mel. the amounts can be measured reliably, and il is probable that income will be received. Income from inveslmenls is fecognised in the period lo which the trust becomes legally enlilled lo receive such dislribulions & includes any income lax recoverable. 1.5 RESOURCES EXPENDED Resources expended are recognised in the period lo which they relate and include allribulable VAT which cannot be recovered. Grants payable are charged lo the Slalemenl of Financial Activities in the year in which the offer is conveyed lo the recipient and a ¢onsliuclive obligation is created, except in the circumstances where con(Silions are allached within the Iruslees control, effectively allowing the Iruslees discretion on paying the grant. Such grants are recognised when these conditions are satisfied.
Page 9 1.6 FIXED ASSET INVESTMENTS Fixed asset inveslmenls are initially measured at transaction price excluding Iransa¢lion costs, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nel incomel{expendilure) for the year. Tiansaction costs are expensed as incurred. Realised gains or losses aTising on the disposal of investments Ilogelher with provisions for diminution in value), are credited or debited lo the Slalemenl ol Financial Aclivilies, and subsequently transferred to Unreslricled Funds. 1.7 CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash in hand. deposils held al call with banks, other short-lerm liquid inveslmenls with original malurily of three months or less, and bank overdraft8. Bank overdiafts are shown within borrowings in current liabilities. 1.8 FINANCIAL INSTRUMENTS The Charity has elected lo appty the provisions of Section 11 'Basic Financial Instruments. and section 12'01her Financial Inslrumonts Issues" of FRS 102 lo all of ils financial instruments. Financial instruments are recognised in the Irusl's balance sheet when the trust becomes party lo the conlraclual provisions of the inslrumenl. Financial assets and liabilities are offset, with the net amounts presented in the financial slalemenls, when there is a legally enforceable right lo sel off the recognised amounts and theo is an intention to settle on a nel basis or lo iealise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which includes debtors and cash and bank balances. are inilialty measured al transaction pri¢e including transaction costs and are subsequently cariied al amortised cost using the effective interest method unless the arrangement constilules a financing Iransaclion. where the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financlal liabilltigs Basic financial liabilities, including creditors and bank loans are initially recogni8ed al transaction price unless the arrangement conslilules a financing Iransaclion. where the debt instrument is measured at the Present value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services Ihal have been acquired in the ordinary course of operations from suppliers. Accounts payable are ¢lassed as current liabilities il payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are rogniSed initially al transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
Page 10 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's accounting policies, the Iruslees are required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent Iiom olhei sources. The eslimales and a850cialed assumptions are based on historical expeiience and other factors that are considered lo be relevant. Actual results may diffor from these eslimales. The eslimales and underlying assumplions are ieviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the peiiod in which the estimate is revised where the revision affects only that period, or in the period of the revision affects only that period, or in the period of the ievision and fulure periods where the revision affects both current and future periods.
Pty 11 HILARY TANGYE TRUST EGISTEREDCHARITY NO.11 t4siolh•AccountBlortho r•dJ0110ynher20k4 3. GROS8 INIIESTPAENTINCOIIE Y•arindod 20.11.24 Tax ross 4157207 InQfroM listsd uKiTrve51m5 41.7.5$ 1,716.55 4S,513.07 Incomefrom listed Non.UK lnvostfflts 17.858 17.58 17.839.29 17.WJ9.19 Gloss BgfflkDÉpositlnWAsl A7.31 54.61 $161 Gr0$9 h)i¢$t[n R11¥$ 3Wd.fjQ 392.PA) .47 39247 63.95944 4. COSTOFGEIIERAllt4G FUNDS VNCLVAI) Ye[nd cHARifA8LEAcnTrÉI 3th11.24 42..[ ZT.471. 42.IXUUD 2S.911.0 ShvreofGovempnc4Cu5lltKts71 QPANT5 PAYABLE G(?l0 Ins111 MenpCh&nce RgI0e Dlsthd- ICeG[[ 3.QWOD 3.OWiKI 3.QWiKI 3.DWLKI 3.rth Pels asThwapy Rg&cuèR8medlosforDtys 3,(W. 3,(> 3.OmiK> W¢¢dGie¢nAnim¥ish¢ii$r cel C1035 GreyhT1 SPAFA Hydestilo RegvJ&nlknunals STARAthpi Biooke VthkJ1rfo Gtepkkninal Rq9W4 3,(W.( 3,(W.( 3,(W. 3,(W. 3.LWOJ 3,LW. 3,(W. 4Z,QW. 3.DW.LKI 3.DW. 3.ONLKI 3.LW 3.OLU 42.W).
PAgè 12 HILARY TANGYE TRUST REGISTERED CHARITY NO.1128342 Notes to the Account5 for ed 30 November 2024 Year ended 30.11.24 Year andèd 30.11.23 7. GOVERNANCE COST (INCL VATI Irwin Mitchell LLP- Legal & Professlonal fe&s Weston Cummlns Gunnercooke Carpenter Box- Independenl Examination fees CAF Bank Ar.r.oiJnl fg 12,600.00 6,600.00 6,600.00 1,605.00 6600 27,471.00 £ 12.013.00 6.600.00 6,600.00 1,835.00 63.00 26,911.00 Basis ol Allocalion.. Al of the governance cosls are allo¢aled lo tho thaiilable 8clivity 019ranl making. Tolalling £27.471.00 in 20241£26,911.00 In 20231 8. EMPLOYEES Number of Employees There were no12023.'nlll employees during the year. 9. FIXED ASSETS Yèar 8nded 30.11.24 Year ended 30.11.23 Quoled investmenls and portlollo cash Market value 1 Decemb8T 2023 Additions Disposals Increaselldecreasel in portfolio cash Net unrealised IlossllGaln Market value 30 November 2024 2,046,062.64 468,730.94 (465,660.191 15.545.611 203.139.25 £ 2,248,727.03 £ 2.074,975.27 548,512.84 {580,648.331 1253.631 3,476.49 2,046,062.64 Hlstorlcal cosl £ 1.914.749.00 £ 1,866,110.00 Lisled UK Investments Listed Non UK Inveslmenls Cash held on porilolio (Ralhbonel 1,388.719.00 850,090.00 7.918.03 £ 2,246,727.03 £ 2,014.659.71 17,939.29 13.463.64 2,046.062.64 10. Inv8Stm8nts that represent greater than 5% of the portfollo by Market Valu8 There were no holdlngs th81 repre8enled greater than 5% 01 the portfolio by Market Value for Ihe years ended 30.11.2023 and 30.11.2024. 11. Flnanelal In8trum8nt8 2024 2023 Carrylng amount of flnanclal assets In51rumenls measured at fair value through profil or loss 2,248,727.03 2,046,062.64
Pagè13 HILARY TANGYE TRUST REGISTERED CHARITY NO.1128342 Notes to the Accounts for the ear ended 30 November 202 12. DEBTORS Asat .11.24 Asat 30.11.2 HMRC A801 30.11.24 Asat 30.11.23 13. CASH I1n Mitchell LLP Ralhbone Income account CAF 0.90 10,606.66 14,593.41 25,200.97 £ 11,224,84 20,839.30 32,065.04 Asat 30.11.24 Asat 0.11.2 14. CREDITORS Rathbone Investment Management Carpenter Box 2,640.09 1.608.00 4,248.09 2,388.77 1,575.00 3,963.77 15. TRANSACTIONS WITH TRUSTEES There were no paymènts tr> Trustees during the year. 16. TRANSACTIONS WITH RELATED PARTIES Titn Thornlon-Jonos (Tiusleel was 8 Partner with Gunnercooke LLP during the year ended 30 November 2024. Duiing the year. Gunnercooke LLP provided professional services to the liusl lolalling £6,600 12023.. £6.6001. Al the year &nd, nil {2023'. nil) was due to Gunnercooke LLP In respect of these seNlces. A D S Weston ttrusteel was a Partner ofweston-cummins durlng Ihe year ended 30 November 2024. During the year, Weslon-cummins Limled provided professional services to the trust totalling £6.60012023.. £6.6001 At Ihe year end, nil12023'. nlll was due to Weslon-cumming in respecl ol these services.
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