Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 REGISTEREO COMPANY NUMBER: 06927379 (England and Wales) REGIsfERED CHARITY NUMBER: 1133567 REPORT OF THE TRusfEE5 AND UNAUDrrED FINANCIAL STATEMEPlfS FOR THE YEAR ENDED 31 JULY 2021 FOR THE HAMBLIN TRUST (A COMPANY LIMrrED BY GUARANT Lewis Brownlee (Chtchesterl Limitfy Chartered Accountsnts Appkdram Barns Birdham Road Chithester West Sus%x P020 7EQ
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRusr CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Page Report of the Truste•s I to 5 Independent Elmine$ Report Statemént of Financial Artivities Balance Sheet Notes to the Financial Statemerts 10 to 16 l)etailed Statement of Financial ALtivities 17
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 ThE HAMBLIN TRusr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021 The twsts who are also directors of the charity for the purpjses of the compani Act 2006, wesent their report with the financial ststements of the charity for the year ended 31 July 2021. The trus have adopted the provislons of Accounting and Rewrbng by Charitses.. Ststement of Recommended PTrCts pICable to chartbes preparing their accounts in accordancé with the n#oI Reporting Standard applicable In the UK and RepublK of Irdand IFRS 102) (effective l January 2019). OBJEcfivES AND AcmirrxES Obje¢tive5 and aims The objects of the Trust are to advance the thristian religion (without regard to dÈnominaix)n) by the teaching¢ Stu(ty and application of Christian habits methods of thought, the propagation of Christian siiritual dottrine, the teIng and study of applled Chrisban right thinking and the adoptson of Christian spirriual wdlU in daiTr lffe and to adwdnce the ucation of the public in chrisb.an phik)sophy. Significant activives The activities uf the Trust rat awarene of the Importanc of Rrght Thlnknng in the way we live our lives and through prornoting the understsnding of the sjritual artd pth"Cal PrillCiFA8s that underpÉn hallth and wellbeing. Through the year, thè Trust has continued its WL¥k through the pU[L£tion and distm1on of its magaane, HamlAin Vision, atMI has continued to develop ts prrnme of talks and meeknng5 availabje to both tnernbers and the general public. The Trust also continues to rent room5 to a dwerse and changing group of counsdlors, practlioners and therapists who focus on devek)ping the heah ènd Sritual wellbeing of those who attend thew tslks and therapy sessK)ns. All of these att"e$ We curtailed foll¢)wing the coronavirus outbreak and the subsequent Jockdown but. Sin the Centre has reopenth actit5 are s1[>w getbng bath to normal. The TTUSt has three ltsdg8s in its grounds which are intended for quiet retreats, tM)th for members and the public. The lodg& are managed by its subsidiary FrrH Vision Ltd and, whil the owating environment continues to be dlngIng, the lodges have, until the irnpatt of COVTD19, been very successfful In tsrrns of use, achieving a high degree of c<cupancy and have covered a gnffttrdnt amount Df the Trusts staff costs. Sirhce the easing of lockdown, demnd for the ltsdges has been very high. The Hamblin Ptant Mursery. a venture developpjj and maintsined Sole by voluntsers wf(h the intention of genwating additional income for the trusL has Continu to develop and has attractèd a growing number of vis0. The a(JNities tsking PL at the Plant Nursery have ni)w expanth into producing and sdling hand-rnade uafts as wdl as the usual plants and vegetables and th has attratted a bt of interest and additi.onal volunteer InvoeMent. The overall plant and (rafts attivib& have fomierty more or le readied break£ven in the Last year or 50 whle it was funding the developrnent of ts InfrastrucbJ, but we are pleased to note they have generattrj a small operating profft thts year. During the Icd(down PEri(xl, the grounds proved very popular as a safe pla to gather and exerci and a number of dasses and meth.ngs took pla outdoots during the fine weather. The were offered as a communty beThef, with any donaty.ons to the Trust being gratefully aCPtaI. SIA then, the use of the grounds a5 an attrattive pe for var¥)us da55es woved very popular and, in the belter weather, fc has the centre of physical and meditation a¢tivty. Public benefft The continue to folbw the ChaTtty Commisson's guldants on pU1C bemefft and in parucular the guldaTh on charibeg for the advantrment 45f relign. Both the pU*shing work of the Trust, and the ular groups, nengs, and lectur& and seminars are open to the public without any restrictkjn on 3ny grounds. [jeed, the Trust seeks to w¢den its influen, and ttrs membership on an ongoing basis, and publicty is ahvays an on90ing prcs. Members of the public are free to visfc the tre at Bosham throughout the week and paUlarlY on weekdays where the staff are availaLle to gwe help and assistance, and the rneditabon sanctuary Os open to the public. Prayets are offered daity, and the puNic are fvee to attend irrespecbve of religion or splritual tAief. The trustees have made available to the public the use of the faalibes, indudin9 the wDnderfuI maintsined garden5, for lebrations of various types. Page J
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRusr REPORT OFTHE TRiisfEES FOR THE YEAR ENDED 31 JULY 2021 ACNXEVEMEKf AND PERFORMANCE The fjgures for rrrforrnan this year have all been by the coronaMrus pandemic and the need for k)ckdDwns In )vember 2020 and bthn January and March 2021. For the main trust, net of government grant suppct, toial income decreased by 22% (É2L.2kl cornpared to 2020. The biggest contributor to this deTrase was rduced income frotn booknngs in all the meeting rooms, particularfy the main hall, and the rdated reduction in events incorne, all due to the lockdown restrictions IMpod as a rej of the coronawws. ThesÈ owational reducbons were offset by a £38.Ik (£17.7k in 2020) contiibutjon from Vdrious govemment gJPk)Jt schem& for businesses suett tr) lockdown. Cerhead suppjrt costs have reduced by 5% from the pru5 year (£107.8k for 2021 Compar to £113.5k in 2020), vlth most of the a)sts remaining very simlèr to l&t year. DeSPe the unfortunat& impact of the pandefflic, is possible to pick out soThe tIVeS frum the figures. The totsl profft for 2021 has increased from £412 to £5,305. which Is rna1n due to the government supwrt in the year. The lodge5, which are usd by the trusvg wholly owned subSidry FttH Wision Ltrj, have been very succassful in tem of use, èlthough again they wére impacted by the lockdown arising from the CoronnIS pandemio p[te the bckdown, income frorn bwkings £6.Ik higher than last year (£48.3k for 2021 compared to £42.2k in 2020), which is a great achiedement. The trtJmblin Hant Nursery, whickn is a reladvew new actiwty Induded in the actiwties for FrrH IfisK)n Ltd, managed to make [5 profit thanks to the addOnal actKVTty of setling crafts (the proiert athieved break even in 2020). It Is still ddDping, and it is anbath3ted that prgfits shoukj grow in fuujre yea As wti h the main trusL overhead ewses for stsff costs for the k)dges are this year as a regJJt the gJPPOrt prowded by the governmenvs Job Retention Schen. The most slgnfficant factor in the resu for krrH Vision Ltd, howeler, is the £53.7k receNed by way of govemment supky)rt for closed-down operations and this, together with the impact of the staff furlough support of £8k. resulted in proffc Df É52.6k Compa to a proft in the prewous yeèr of £18.6 The main achEevernents in temis of our non-finanaal oble(Iwes for the year have been to provide a wide variety of ctwdies and dasse5 intend8J to facilitate inner peace and physicJl and spiritual well1ng and to ensure that iytors stsiing in our IcgeS have had the cyporiunkty to eXper1er a riod of respite and tranquillty in an attractlve and well-maintrdlned eNronment. We thntinued to offer the use of our grounds as a safe place to meet for indmduals during lockdown and as è pla for outside act¢$. As a re%uK there was rnuch artwity In the grounds for yoga, m&itstion and other groups, all OFerab"ng safely in a sla1 distsnced wayi in attrèctwe and tranquil surroundings. A sirniLir beTref was abo provided by the ant nursery which, (xhce garden ntre$ were allowed to ropen, also offered a safe, outdoor space for people to wst and meet others. From a finanaal point of ew, gemeratr.ng 3 small profit, albat with govemment suNK)rt, Of £5.3k for the tnst and E52.6k for FrtH vis1n Ltd in the current year is a welcome outcorne for the financial heatth of the 0ration and is a (Tedit to the fcKus and deterrnination of our small team of part time stsff. volunteers and trustees. a rewlt of the eTrfoed lockdowns the Trust continued, with the supFx)rt of teachers and pra¢*boner5, to provide variou5 talks. meditstions and classes on-line, either live or prtrreCOrd and, On rOpened, rtrcomrnenced normal physical 3cttvI avthough these continue to be aff&ted by swal dthncing rthirtions and members. lack of confidence in rebJming. Wth the substantial loss of ongoing incorne arising from the impart of the cavirU$, the trustees met to discuss 5trateglc optiolls and to consider investment and expenditure prlorities. It was anticipated that income from events and roorn hire is likety to recover only very skjwly and that, in order to suNive, the Trust neeAal to pursue the developmw)t of digital prDducts to supp)rt our future owation, building on the Interim work done to date. Page 2
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRusr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021 FINANCIAL REVIEW ReseTves and principle finaFKial management poliLy The Trusts princal financial management polioes adopted during the year have been to exerase tontrol over operating expenses. to review and increase prices Whe rxjssible and fE)cus on generailng income from digtsl woducts. Gwen the ongoiThg difficu& caused by the impBtt of the coronawrus and the need for I(kdownS and socval dlstancingl the Trusvs ability to manage financial policy hès ben limited. Whilst the trustees have continued to exerclse control over openb.ng expenses, there ha5 been no scope for consvjering any pri inoEases, and pL4nned increases in room hire rates have been put hold until the e£onomic 5ittJation picks up and confidence rethms. The Trusvs poliy Is to hold suffjoent reserves, wthin the Hamblin Group to be abk, should it become n¢s5ory, to ceasè trading under control and with sufficient funds to discharge our StatOry obligat5ons to sLaff. Despite the cuent operatnal surplus, the Trust rnust cont¢nue to manage the cash QarefUl and this, twher with the teneficial imp&t of memter donattons, ensu the Trust continue to operate and have adequ4te 0)rtUn to optsmEe attNikn&. The Retreat Lg, although they do rK)t usually produce an accounting proffti gener remain sh kyJsr(ive and provide the Tnjst with extra resourtes to fund operabon5 anil these are essenUal to allow the Tru to grow and continue to promde its impk)tsnt publlc berit from the current location. The tmstees regularfy reMew prices wth a to generating increased income. on Ic£kdown was lifted, the dre for stsycationg resu in a lot of intwt in the lodges, and booklngs toward5 the latsr part of the year have very high. The trial of akernabve uses for the kKJges th3t may generate more profitsb sour of income remains on hold as a result of lockdown and the to wait untr"l c(r1dn returns. Despite the impatt of the coronavirus, the Trust produced a profit £5,305 compared to a profit of £412 in the previous year. This mainly reflects the p0sVe Impart ¢Jf gtsvemment grant support made available to ttnesS85 affected by the coronavirus l(Kkdown5 and ongclng restrictitsn& Unfortunatety, the need to dose opertkS under the coronawrus restrirtions rneans that the positive progr we had made in the previous yeats in relation to IneaSing membwship has been bad impacted. We hope tha¢ when present restr1ttis are lited. we may te able to r?tMJitd the membership bagk to the hvJher level athieved in thè prlock(bwn kEriOd. Gwen the difficu operating environment as a su of the Coronawrus, the trus main focus is now on the CCtinUed devdopment of digitsl products to help improve the finèncial situation and greaterfinandal sustsinabilty. Goin9 Concern The current levd of reser is rrxjre than adequate b) support the Trust for a few more year5, dw.te the historic underlyirwj Operati(131 deficits. However. since these accounts were prepared, the trust ha5 fad new drfficulbes in reEation to the ongoing management of the Trustrs operations and the trStee$ are of the view that the Centre does not have a Viab sustsinaL4e futu in prewt form. According, they are presently investi9ating the possible sale of the Centre and continuing to promote Harnblin's teachlngs largety online. The present egOtiatiOnS assume a transfer of the Trusi's assets to NrH Vision Ltd and that HTH Ltd would then sold to the prrral bKlder. At the tirne of writing, the firbalisation of such a sale awaits darification on any potential tsx implications and agreernent with the purchar on the nature of prop05d restri(knve covenants on the use of the land. During the dosedowns imposed as a res of the Cowd19 pandemic, the Trust sUccesul maintalned its educab"oThal actsviti& by (Teating and womoting online digital content and this will be the primary focus the site is sold, although the member rna1ne, Hamblin Vision, will remain availèble in hard topy for Ihose who want ti in that forn. Future acbwties 11 indude Ix)th live events on Zoom as wel as pre-recorded tslks, tnedttstions and related aCtities. Present negotiatiDns with the preferreil bidder akn all¢)w for some continual physical ackn.vty at the Trlarnblin CentsE going forward. Page 3
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRUST REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 JULY 2021 srRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Trust 15 incorported as a company 11rned by guarnntee govemed by ts memorandum and arbcles of assocSation and is a registered charity. The liabilty of the members in the event of the Trust belng wound up is lllnited to a sum not exceeding £1. The total of such guardntees at the year£nd was É4. The Trustees are empowered under the Trust Deed to appty the funds of the Charity for the purFose of the objerts describèd bdow and are at fiberty to the expenses for the preparatK)n. pU1"0n and disseminaUon of lIgIouS literature. Recruitrnent and appointment of new trustees The Trustees are eliglble, in committee, to aptM)int addonal Trustees under the temis of the Trust Deed. REFERENCE AND ADMINISTrArnE DETAILS Registered Company num1 06927379 (England and Wa) Registered Charity number 1133567 Registered office Bosham House Ma'n Road Bosharn Chichester W£%t Sus P018 8P) Mjkhby M Willson N E Raine V A Willson Zndependent Examiner Christine Deaton Bk IHoThsl FCA CtA s Brownlee (Chichester) timited Chartered Accountsnts Appledrdm Barns Birdham Road Chithester West Sus P020 7EQ Page 4
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAM8LIN TRiIST REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 JULY 2021 SUBSIDIARY UNDERTAKING The Trustees a£knowledge that prrH Insion Ltd, the tradlng sutsidiary for the Trust, has been operating wf(h an undethng deficit. It is a pleasu for the trust5 trF rerort a prof of £52.6k this year compared to £18.6k in 2020. This is not something the trustees on tske rJYdit for as it is Sole due to the beneficial irnpatt of govemment grants available to us to offset the loss of income due to the coronawrus lockthwn and going impact of resthcbons. Although the $iation regarding the retreat lad has irnprov8J, the ora0Thg enwronrnt contlnues to be drffiLv, but the situation has beèn helped to a ynall extent by the development of the Flant nursery which also comes under the ding aLtiwties of FrrH Vision Ltd. It remoins a relatrrfèty new acknmty that Is 5tll developing but the addib.on of ctaft Sal has now resulted in a srnall profiL It is reassuring that t Dreption has now covered Its Ins31 developmert costs arkl (c is expected th this wll begin to make a greater contribution as the operation develops. The def incurred on the rett lodge operation ts due to the continued pressure on our pmces and the ne1 tu rUlarlY offer dixounts to attract occupancy. We are advised by Hoseasons (our main markeiing agents) that there Is a generdl trend for clients to l&ve their holiday bookings to the last minute to obtsin better rates. As a re deSpe athieving robust ¢xcupaThcy, the lower net prices after dixount were not SLrffKient to cover the administratK)n and running cost& The impact of the pandemic lockdown has, of course, affe£ted the lodge re5uts, not onty through thÈ reduction in income, but also due to the addf(ional anO-infection cleaning costs. The Trust have wenity agreed a rise in cetsin pr[S with Hoseasons and it is hoped that thts, together with add income from the plant nursery and related acbvtiies, will begin to redu the operdting defiot in the future On the comnaMru5 r&tricbons a e3sed. The discount polry is revwed as need ty our U)aim)an and the Cenlye Manager. It is IMrtant to note thaL athough the lodges continue to produts accounting losses, they generdlly prc4Ju cath-the r&ul¥s so do provtde additronal resoMrcÉs to support the main trust. Approved by order ofthe board oftrugtÉts ..¥.1.....0¥. l.i).%.l. and gned on trs tehalf by: D M Willson - Trustee Page 5
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 INDEPENDENT EXAMXNER'S REPORT TO THE TRusfEES OF THE HAMBLIN TRUST Independent examiner'$ report to the trustses of The Hamblin Trust (the Companv) I rerx)rt to the charity trustees OTh my examination of the accounts of the Compgny for the year ended 31 Juty 2021. Resptbnsibilities and basis of report As the chartys twstees of the Company land also its dlrectots for the purwses of company law) you are responsible for the prepèrdtion of the accounts in accordan the requirements of the Companies Act 2006 (he 2006 Atv). Hawng saty"sfied Myse that the accounts of the Company are not required to be audited under Part 16 of the 2006 Art nd are eligible. ftsr independent examiThation, I report Sn reswt of my eyarninatton of ygur charitys accounts as carried out under sectK)n 145 of the Charities Act 2011 (the 2011 Act'l. In carrying out my examination I have follow&J the Dirthins gThfen by the Charity Commisgon under sethon 14515) (bl of the 2011 ACL Independent examiner's statement I have COmpted my examinatton. I coThfirni that np matters have come trj my ention in cOnnOn wth the eyaminats.on gTriing me cause to belEve'. accounting records were not kept in respert of the Company as required by tiDn 386 L(the 2006 Att. or the acthunts do not accord with thase records; or the accounts do not cornpty with the acntIng reqU1ments of secbon 396 of the 2006 Act other than any requirernt that the accounts gwe a true and fair view which is not a matter con&dered as wt of an independent erdmination. or the èccounts have not been prepared in accordan wlth the methc>ts and princirAe5 Of the Ststsment of RMmended pract[ for accounting and reportlng by charibes (applicable to drIbeS preparing their accounts in accordance with the nanual Retk)rbng Standard apph"cablÈ in the UK ond RepublK of IreJ)nd (FRS 102)). I have no COnM$ and have come across no other matters in connettion with the emInatiOn to whith attentéon shou be drawn in this report in order to enatle a proper understsndin9 of the accounts to be reached. Do¢uS*n•d by.. 8E548E182C6543C.. ¢Jristine Deacon BSC (Hons) FCA CTA Lewis BrowTr (a)iche£ter) UmTtti artered Accountsnts Appledram Barns Birdharfi Road Chichester West Sussex P020 7EQ 17 March 2022 1 06.. 51 Gfvtr t)ate'. ge6
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRUST STATEMEMf OF FINANCIAL ACnVITIES FOR THE YEAR ENDED 31 JULY 2021 2021 Totsl fund5 2020 Totsl funds funds funds Notes INCOME AND ENDOWMENTS FROM Donati($ and legaaes 52.925 3,460 56,385 37,166 Other trading actimty.es 56,740 56,740 76,778 Total 109,665 3860 113,125 113,944 EXPENDITURE ON Charatable activities Cost cl thariratle Acte5 lo720 107A20 IL3.532 INCOME SA05 412 Transfers between funds i? 3,460 (3A60) Net movement in funds 5,305 SA05 412 RECONCILLATION OF FUNDS Total funds brought forward 241,719 241,719 241,307 TOTAL FUNDS CARRIED FORWARD 247,024 247.024 241,719 The notes form part of these finandal StateMts Page 7
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE MAMBLIN TFwsr BALANCE SHEEr 31 JULY 2021 2021 Total funds 2020 Total funds Unrestricted Restritted funds funds Notes FIXED ASSETS Tangible as¥ets Invethents 288,242 288,242 271,717 io 288,243 288,243 271,718 CURRENT ASS5 Stc£ks Dettors Cath at bank and in hand li 12 3,697 6,g53 96,276 3,697 6,953 96,276 Sl,475 106,926 106,926 $7,799 CREDITORS Arnounts falling due within one year 13 (SO,123) (50,123) (12,9691 NET CURRENT ASSErs 56003 56.803 74.830 TOTAL ASSEfs LESS CURRE1 LIABILMES 345,046 345,046 346.548 CREDITORS Amounts falling due after more than one year 14 (98,022) (98,022) (104,8291 MET ASSErs 247,024 247.024 241,719 FUNDS Unre4trirted funds 17 247,024 241,719 TOTAL FUNDS 247.024 241.719 The charitable tompany is enbued to exemption from aud under S&tsn 477 of the Companles Art 2006 for the year ended 31 July 2021. The memr$ have not requlred the company to obtain an audit of rts financial siatsrnents for the year end 31 Juty 2021 in accordan with secb.on 476 of the Companies Att 2006. The trust acknowtedge their reSnsibIlI"eS for (al ensuring that the ch3ritalAe company kee accounting records that comply wlth Sections 386 and 387 of the Cornpanies Art 20( and preparing finhnoal statements whth give a true and fdir view of the stste of affairs of the thariiable company as t the end of each finantkal year and (* its surplus or defiot for ead) financial year in (ordance with the requirements of Sections 394 and 395 and which otheM1 cornp with the requirements of the Compani& Act 2006 relating to financial sktements, 50 far a5 applicable to the charltable company. (bl The ngtes fwm part of these financial statsments Page 8 ontinued...
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRusr BALANCE SHEEf- continued 31JULY 2021 These financial statements have bn prepared in accordan with the pOn$ applicable to charitst4e companles subj.ect to the small Compani regime. The fi'nanoal ts were approved by the Board of Trustee5 and aLthorfsed for IUe and were svjned on its half by- on N E Raine- Trust D M Willson- TrustèÈ The note5 form part of these financial siatements Pdge 9
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRusr IIOTES TO THE FJNANCXAL sfATEMEfrrrs FOR THE YEAR ENDED 31 JULY 2021 srATUTORY INFORMATION The Charity is an incor¥Jorated charity, registered with the Lhaiity Commissioners for Engknd and Wales (1133567) and a company incorwroted in England and Wajes (06927379). The tharity is limited by Guarantee to a maximum of £1 contribution mernr. There are currenuy four 12020- fr) Mem¥5. The Charty is governed by its Attideg of AWc13tn. Its principle obiecbves and regi%tered Offi can be found in the rewrt of the trustee& The Rnanoèl Strtnents have been prepared in Sterting. Trls Is the Charfvs fun¢tonal Currency. ACCOUNTING POLICIES Basis 4rf préparing the financlal statements The finanaal staternents of the charitable company, whKh a pubfic efft entity under FRS 102, have been prepared in accordaTh with the CharIb" SORP IFRS 102) 'Accounting and Rewrting by CharibÉ%: Statement of Recommended Prncti applile to charitres preparing thar accounts in accordan with the Fin4Thoal ReEDrting Stsndard applicable in the UK and Republic of Irdand (FRS 102) leffecbve l January 2019),, Finan¢ial Rerx)rting Siandard 102 The nan031 Reporting Stsndard applicab in the UK and Republic of Ireland, and the Companies Act 2006. Preparation of eonsolidated financial statements The financial statements contain inf0mtiOn a*iut The Hambtin Trust as an indmduèl company and do not contsin consolidated finanoal informakn.on as the rent of 3 group. The d)aiity is exetnpt under Secknon 399(2AI of the Companies Ati 2006 from the requirements to prepare consolidated financial ststernts. Income Income is recognisÈd in the accounts as follows: - DonaOons and other miscellaneous income- on a receipts basis - date the legacy is received - MemtshIP fees- on a reIpts basis including lifeD"me memEer5hip5 - oldendS and interest- date the dpiiden(k and interest is recewed Grant in¢ome Grants relating to revenue are recognised in income on a systematic ts5is over the pericds in whKh the entity recogni5es the relatrd costs for which the gnnt is intend& to compensate. Grdnts that bOme recewable as compensation for expenses or losses alrea(ty incurred or for the purpose of gwing immediate financial supwrt to the entity with no fvture related costs are rwnised in income in the period in whith it eLble. Expenditure abilthes arè rècognised as exwdEtyre as soon as there is a legal or Constructi obligation eornmttbng the charity to that expendibjre, it is probable that a transfer of economic benefts wil be r1d in settbrent and the amount of the obligation can be measured reliably. ExpendiLure is accovnted for on an accruals bas and has been dassifi@d under headings that aggregate all cost related to the tatetyjry. whe costs cannot be direcdy attributed to pafacular headings they have been all¢xated to activitles on a basls consistent wth the use of reurCeS, Tangible fixed assets Depreaatr"on provlded at the folltswng annual rates In order to wrEte off each asset over Its esttmatsd useful lrfÈ. Freehold wop xbJres and fltUngs 2%- 10% on cost 25% on rethJdng balan Where appliraible, asgets at a wJlualion in excess of £100 are capit3li5ed as ftxed assets. These assets are held at COSt depreoation irh accordan with th2 above depreaation polity. Page ID conts"nued...
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2021 ACCOUNTING POLICIES- ¢ODtinued stocks are valued at the lower of cost and net realisatr4e value, after making due alkjwance for obwlete and sk)w momng ern5. Taxation The chaiity Is exemptfrom corwrntion tsx on its d)aritab acbvibe Nnancial instNments Finan(ial instruments are dassrfied by the direttors as basic following the condiknons in FRS 102. Basic finanoal instruments are recognised at arnortised cost using the dfeLtive intsrest method. Investments in subsidiaries Investmthts in suIdiareS a measured at cosi th accumulatsd IMlmIent Going concorn The current levd of rese1v is mre than adajuate to support the Trust fc a few rnore years, despite the historic und&lying operational ddi(itS. However, Sin these accounts were prepared, the trust has faced new dthculties in relabon to the ongoing management of the TnJsV5 operations and the trusts are of the view that the Centre does not have a viable sustrdinable future in its present form. Accordingly, they are presen invesbgating the wssIb le of the Centre and continuing to promote Hamblin's teachings L3rgdy online. The present negotiat#)ns assume a transfer of the Trust's assets to Vigon Ltd and that FrrH wlDn Ltd would then 1 to the prderred blddèr. At the time of wrtbng, the finalisation of such a sale awaits clarification on any potenal tax lEnplicatnS and agreement wth the purchaw on the natyre of prop)s& restrthe tovÉnants on the use of the L3nd. During the dos8Jowns irnpos&J as a rlt of the Cowd19 pandemlc, the Trust successfulty maintslned educational by creating and promoting online duital content and this will be the prirnary focus once the is sold, although the member maga2ine, HaMI1n Vi&on, wlll remain awdilable in hard copy for those who want t in that form. Future a"V£S will indude both live events on Zoom as well as prwecordal talks, mediiations and reLited attiwbes. Present negOtltionS with the Preferred bidder al allow Sor contynued physital acbvity at the Hamblln Ca)tre going fomard. DONATIONS AND LEGACIES 2021 Total fvnds 2020 Total funds Unrestricted Restricted fvnds funds Donations Grft aid Legacies Grants Meml*hlP 4,589 2,053 5,116 38,146 6.481 8,116 4,506 2053 5.116 34,686 6N81 3060 17,723 6,813 51925 3h60 S385 37,166 GTrnts receTh. indudè4 in the a)Ve, ao as follows.. 2021 2020 Goverment grant income 38,146 17,7 Paje 11 continued...
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRU NOTES TO THE llNANCIAL ATEMENTS- corhtinued FOR THE YEAR ENDED 31 JULY 2021 OTHER TRADING AcllES 2021 Total fvni15 2020 Total funds Unrestricted RestrKted funds funds ExpEnses retharged Rentsl income Other income Sale of putjications 36.923 13,322 5,923 572 36,923 13.322 5,923 572 37,177 26,089 13,185 327 56,740 56,740 76,778 CHARrrABLE ACtIVmES cosrs The direct ¢osts of chanlabk activiti&, were as follows.. 2021 2020 Cogt of Chatalle A¢vities 107020 94,056 NET INCOMEI(EXPENDrruRE) Ftts to the Independent examlner amounted to £2,200 during the year12020 .' £2,200), TRusfEES' REMUNERATION AND BENEFITS There were no truste Rmunerntion or other benefits for the year ended 31 JU 2021 nor for the year ended 31 ju 2020. Trustees. expensÈs Travel and meeting expense5 reimburs to truees amountsd to NIL Q020- É46). srAFF cosrs The aveTrge Month number of employees during the year was as folk)ws.' 2021 2020 Supp)rt Svpemson No employee5 receDied emoluments in excess of £60,000. Totsl stsff costs may be analy as folbws.. 2021 2020 Wages and salari Social uJrity costs Other penslon costs 59,710 60,059 1,590 Page 12 continued...
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN Tftusr NOTES TO THE FINANaAL ATEMEfs- continuod FOR THE YEAR ENDED 31 JULY 2021 TANGIBLE FIXED ASS$ Freehold property ar frttings Totsls At l Avgust 2020 Addrtirxks 369A57 27,293 13,709 3ml 383,166 30,334 At 31 JU 2021 396,750 14750 413AOO DEPRECIATION At l August 2020 Charye for year 98,292 13,133 13,157 676 111,449 13A09 At 31 ju 2021 111,425 13,833 125,258 NEf BOOK VALUE At 31 July 2021 265,325 917 288.242 At 31 July 2020 271,165 552 271,717 io. Unlistsd COST LESS IMPAIRMENT At L August 2020 aThd 3L ju 2021 NEf BOOK VALUE At 31 Juty 2021 At 31 July 2020 There we no investment assets out*de the UK. The compan¢s investments at the balance sheet date in the share (apitsl of companÈ5 indude the ft4bwing'. rH W15ion Limited Registsred office.. Bosham House Main Road, Bosham, lcheSter, Su55ex, POI8 8P] Nature of business.. providing acCommation Class of share: Ordinary holdiTh9 100 2021 2020 Aggregats capital and rtserves Profft for the year 26,931 52,622 (19,3741 18,614 ge13 continued...
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRiisr NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 JULY 2021 ii. 2021 2020 Stocks 3WJ7 12. DEBTORS: AMOUTr¥fS FALLING DUE WrnIIN ONE YEAR 2021 2020 Trade debtors AMonts owed ty group undethkings Other debtors Prepayments soo L5,572 3,256 2,356 1533 1,920 953 22,275 13, CREDITORS: AMOUNTS FALLING DUE VlIN ONE YEAR 2021 2020 Bank loans and overdrafts (w note L51 Trade creditors Amounts tswed to group undertaknngs Social security and other tsxes VAT Attrued expenses 7,467 4,373 35.982 521 555 1,225 3,083 3,575 745 366 2200 50,123 12,969 14. CREDThORS.. AMOU1$ FALLING DUE AFfER MORE THAN ONE YEAR 2021 2020 Bank loans (see note 15) 98,D22 104,829 15. LOANS An analysis of the mèbJnty of loans is gwen bek)w'. 2021 2020 Arnounts falling due wtthin one year on dernand.. Bank loans 7A67 3,083 Amounts falkng between one and ttvo years.. Bank loalls- 1-2 yèars 7,779 9,250 Amounts falling due between tWD and five years- Bank loans- 2-5 year5 25,342 27,749 Arnounts fèlling due in more than fwe yeats.. Repayable by instslments: Bank loans- over 5 years 64,901 67,830 Intsrest on the above loan is Induded at a variable rate of 4% attsre the base rats. Page 14 (yjntinued...
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIPI TR NOTES TO THE FINANCIAL STATEMENTS- contioued FOR THE YEAR ENDED 31 JULY 2021 16. SECURED DEBTS The following secured debts are indudal whin cl¢(c¥s.. 2021 2020 Bank loans 105B89 107,912 The bank loan has bttn se0J against the freehdd propety at Bosham Hou, Maln Ro•J. E4xharn, Chthester, P018 8P1. 17. MOVEMENT IN FUNDS Net Movement In funds Trnnsfers At 118120 funds At 3117121 Unrestsicted funds General fund 241,719 3060 ?4724 Restrirted funds Shed Donatijn BarnbrK* Hoor Donatian 1,150 310 (1,150) (2AIO} 3.460 (3860) TOTAL FUNDS 241,719 5,305 247,024 Net rnovem&)t in funds, irhdudaj in the above are as follows: Incomlng Resources Movement In funds Unrestritted funds General fund 109,665 (lo720) Restricted funds Shed Donatron Bamkn Floor C¥Jnation 1,150 210 iso 310 3A60 TOTAL FUNDS 113,125 (107020) 5,305 Comparatives for movement in funds movement in funds At 118119 At 3117120 Unrestrirted funds General fiJTrd 241,307 412 241,719 TOTAL FUNDS 241B07 412 241,719 PaJe 15 continued...
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRiIST NOTES TO THE FINANCIAL sfATEMENTS- tontinued FOR THE YEAR ENDED 31 JULY 2021 17. MOVEMENT IN FUNDS- eontinued ComparatNe net movarent in funds, induded in the abDve are as fOlWS.. Incomlng Re50Yr M¢)v¢ment resources expended In funds Unrestrlct•d funds General fund 113.944 {113A32) 412 TOTAL FUNDS I,944 (113,532) 412 RÉ4tritted grants amounting to £3,460 were as a contribubon towards the new shed and bambDD floor. These grants have been fully ub"liseO for the specrfic purp)se during the year. Balance of restritt fund5 at the year end is NIL (2020.. NIL). 18. EMPLOYEE BENEFTh OBLIGATIONS The trust operdtes a defin ctsntribution penaon herne. The assets of the ptrnsion stheme are held separate frorn those of the charity in an independeThdy administered fvnd. The Fension cost represents contribLttions pardble. by the charty to the fund and amounted to £L,64812020: £1,590). Out51anding contributions ot the year e1 amounted to £413 (2020 .' £140). 19. RELATED PARTY DISCLOSURE The trust Incur expenditsjre rthtaj to ts subsidiary. The prin0p expendthre rechargÉd to prrH Vison Ltd Is set out below.. Thé tswst Incurred wenditure of £23,437 (2020: 23,154) relating to wages. This )mount has been ar9ed t its subsidiary and included in the eypenses reChard in thè accounts. The trust inojrred deweClatsn r* £9,075 (2020.. £9,281). This amount has been recharged to its subsidiary and induded in the expenses recharged the accounts. The trust incurred expenditure of £4,412 {2020.' £4,743) relalSng to loan interest. Thls amount has eft recharged to its subsidiory and included in the expenses retharged in the acctsunts. 20. ULTIMATE CONTROLLING PARTY The trust is contmlled by the Trustees. Page 16
Docusign En¥ÈlopÈ ID". A5E2E3C9-CSEA450&9935-C7CFC8BC4F72 THE HAMBLIN TRUST oAlLED sfATEMENT OF FINANCIAL AcrniifiES FOR THE YEAR ENDED 31 JULY 2021 2021 Total funds 2020 Totsl funds Unrestrtrted R*icted fund5 fund5 INCOME AND ENDOWMEII Donations and legacies Donations ftaid Legaaes Grants Memb2rthip 4,589 2,053 5,116 3486 6,481 4,589 053 5,116 38,146 6A81 8,116 4.506 17,723 6,813 S¥9ZS 3A60 56,385 37,166 Other trading actlvftiag Expenses recha Rentsl Income Other income Sale of publi¢ations 36,923 13.322 5,923 572 36,923 13,322 5,923 572 37,177 26,089 13.185 327 56,740 56,740 76,778 Totsl incomin9 resources 109,665 3A60 113,125 113,944 EXPENDrnIRE Charitable activitles Wages Pensi¢Jns Rates and water Insuran ght and heat Telephone Pfjnting, postage & thtionery Adverbsing Sundries Travel Entertainlng Su11ptiOns Q)mputer Repairs aw¥J renewals Accountsncy 8aRk charges Legal and profe[tin31 Bank loan interest Depreciatson Df tangib fixed assets 59,710 59,710 1,648 226 1027 3,247 641 2,239 928 522 60,059 1,590 1,114 2,OlJ4 2,043 636 2,992 226 I27 3,247 1239 928 522 674 46 205 451 SY)1 7,930 2,175 2,151 4Q3 960 14x133 1,317 L210 403 960 14,033 1.317 1,210 4,412 13W9 4012 13,809 4,743 22,355 107A20 lo720 113,532 Totsl regjurces expended lo720 107A20 113,532 Net income IA45 3M60 5,305 412 Thls page does not form part of the statutory financial statements Page 17