REGJSTERED CHAIUTY NUMBER: 1137778 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEmErs FOR THE YEAR ENDED 5 APRIL 2023 FOR THE HUGH SYMONS CHARITABLE TRUST
THE HUGH SYMONS CHARITABLE TRUST CONTENTS OF THE FINANCIAL sfATEMENrs for the Year Ended S April 2023 Page Report of the Trustees I to 3 Report of the Independent Auditors Statement of Fillancial Activities BalAnee Sheet Not&5 to the Financial Ststemtnts 9 to 17
THE HUGH SYMONS CHARITABLE TRUS[ REPORT OF THE TRUSTEES for the Y¢gr Ended 5 April 2023 The trnstees present their report with the financial statements of the charity for the year ended 5 April 2023. The trustecs have adopted the provisions of Acwunting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in acrdanCe with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2019). ORIECTIVES AND AcfiviTIES Objeets And Aetivities for public benefit The objects of the trust are to apply Its funds for surh exclusively charitable purFM)ses as the tNstees may think fit in a¢cordan¢e with the Irust deed. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the trusts aims and objectives and in planning future activities and in setting grant making policy for the year. Grantmsking The trnstees continue to make grants supporting many charlties within specified grant making criteria. The trustees endeavour to support charities who operate long temi development. health and welfare programmes in the third world, Charities who operate health and welfare Progrdmmes in the UK and environmental charities. ACHIEVEMENT AND PERFORMANCE Achievements and perforniance During the year lo 5 April 2023. the ¢harity received income and donations totalling £311.340 (2022 - £305.069) as detailed in note 2 to the accounts. After allowing for the costs of administering the charity the trustees made charitable donations in accordance with the ternis of the constitution totalling £418.IXK) (2022 - £535,900) as shown in note 4 to the accounts, leaving unspent resources of £5,261,129 at the year end. Fundraising activities The tnjst does not carry out any significant fundraising activities. Investment perforniance The tNst's investment portfolio is managed by Cazenove. Funds are invested to provide a balanced return of wwth and income for the charity. but with the various dileUltIeS in global financial markets in recent years the investment portfolio has suffered significant volalility in market value. Despite the active management of the portfolio, the value of investments decreased in the year ended 5 April 2023. The )rtfOlIO is held as an expendable endowment thnd in accordance with the tst deed. The cash held as part of the inveslrnenl w)rtfolio decreased to £347,479 due to the purchase and disposal of PIt investments where deemed appropriate by the investment managers. FINANCIAL REVIEW Financi41 position As a result of ihe activities and investment perfornance mentioned above, the totsl funds de¢rea5ed to £5,261,129 (2022 - £5.672,399) &8 at 5 April 2023. Reserves policy The trnstees, w>licy is to maintain the capital value of the endowment fund, and the level of income it produces, at least in line with inflation. Ch reserves of approximately one-half of the previous yes income are held to provide a 'CU5hion' against unforeseen expenditsre and against sharp fluctuations in incorne. Subject to this, it is the tnjstecs, policy to distribute by way of grants the whole of the trusvs Surplus income after administration expenditure. FUTURE PLAIYS The trustees are continuing to look into the TloUS areas of interest as a grantmaking FM)dy. with consideration to the primary objectives of the trusL a broadening of the spectrum of donations is being considered. rRUCTURE, GOVERNANCE AND MANAGEMENT Structure governance & management The Hugh Symons Charitable Trust was established a5 a charity by a declarntion of trust dated 29 June 2010. It was gistered with the Charity Commission on 3 September 2010. Recruitment and appointment of new trnslees The power of appointment of new tNstees rests with the settloTS G H Roper and Mrs P H Roper jOTntly or, if incapable, by the trustees. Trustees are appointed by deed. Page I
THE HUGH SYMONS CHAIUTABLE TRusr REPORT OF THE TRusfEES for the Year Ended 5 April 2023 srRUCTURE, GOVERNANCE AIW MANAGEMENr Organisational structure All decisions relating to the organisation and operdtion of the charity are made by the trnstees. taking professional advice from advisers and third parties wher¢ it is deemed approprtate. This includes the appointment of Cazenove to manage the charity's investment portfolio in acconlanc¢ with perfornlance criteria set by the board. Induction and training of new trustees On appointhient, new trustees sign a model trnstee declaration statement committing them to giving their time and expertise. The new trnstee goes through an induction proce. which includes meetings with the trustees. Training is also provlded to the tTUStee as required. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1137778 Principal address SbhamptOn Hou5¢ Stubhampton Blandford Fornm DTI18JU Trustees Mr G H Roper Mrs P H Roper Ms K A Roper L Aldridge Directors of Lester Aldridge TnLSt CoTporation Limited: Lester Aldridge Company SecretaTial Limited M RBarrow Mrs J E Clarke Mrs P Jones KRLee Mrs M Naidoo-ogle O C Phipps Auditors Andrews and Palrner Ltd Statutory Auditors 32 The Square Gillingham Dorset SP8 4AR Other principal advisers Stockbrokers & investment advisors Cazenove Capital. 12 Moorgate, Londo EC2R 6DA Bankers C.Hoare & Co. 37 Fleet StreeL London, EC4P 41x2 Solicitors Lester Aldridge LLP. Russell House, Bournemouth, DorseL BH8 SEX STATEMEiYf OF TRUSTEES, RESPONSIBILITIES The tmstees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Acwunting Standards (Uniied Kingdom Generally Accepted Accounting Practice). Page 2
THE HUGH SYMONS CHAIUTABLE TRUST REPORT OF THE TRUSTEES for the Year Ended S April 2023 STATEMEWf OF TRUSTKES, RESPONSIBILITIES- continued The law applicable to charities England and Wales. the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the tNst deed requires the tSteeS to Prepare financial statements for each financial year which give a true and fair VI of the slate of affairs of the charity and of the incoming resources and application of resources. including the inwrne and expenditure. of the charity for that period. In preparing those financial statements the tThstees are required to select suitable accounting policies and then apply them wn5i5tently: observe the meihods and principles in the Charity SORP. make judgements and estimates that are reasonable and PTudenl' prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper a¢LtIng records which disclose with re&sonable allraCY at any time the financial w>sition of the charity and to enable them to ensure thai the financial statements comply with the Charities Act 2011, the Charity (Accounts and Rew)rts) Regulations 2008 and the provisions of the tnjst deed. They are also responsible for safeguarding the assets of the charity and hence for taking sOnable steps for the prevention and detethion of fraud and other Iegular1tIes. Approved by order of the board of trustees on 9 January 2024 and signed on its behalf by: Mrs P H Roper- Trustee Page 3
REPORT OF THE INDEPENDENT AUDrfoiLS TO THE TRusfEES OF THE HUGH SYMONS CHARrrABLE TRUST Opinion We have audited the financial statements of The Hugh Symons Charttable Tnjst (the 'charity') for the year ended 5 April 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of signifjcant accounting wlicies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the slate of the charity's affairs &8 at 5 April 2023 and of its incoming reSou¢S and application of resoues, for the year then ended. have been properly prepared in accordance with Uniled Kingdom Generdlly Accepted Accounting Practice. and have been prepared in ac¢ordance with the requiretnents of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) USAS (UK)) and applicable law. Our reswnslbilities under those standards are further described in the Auditors, responsibililies for the audit of the financial statements section 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 respon5ibililies in accordance with these requirements. We believe that the audit evidence we have obtained is suificient and appropriate to pn)vide a basis for our opinion. Conclusions relating to gDRng concern In auditing the financial statements. we have concluded that the tn, use of the going concern basis of accounting in the preparation of the financial stalements is appropriate. Based on the work we have perfornled, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability to contlnue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trnstees with respect to going concern are described in the relevant sections of this report. Other information The ttustees are responsible for the other inforniation. The other inforniation comprises the infomiation included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other infrgrniation an4 except to the extent otherwise explicitly stated in our report, we do not express any forn) of assurdnce conclusion thereon. In connection with our audit of the financial statementy our responsibility is to read the other information and. in doing so. consider whether the other infonnation is materially incon5iStwrt with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misststements, we are required to deterniine whether this gives rise to a malerial misstatement in the financial statements themselves. If, based on the work we have perfornied. we conclude that there is a material misstatement of this other infornlation, we are required to report that fr&t. We have nothing to report in this regard. Mxtters on which we are required to report by exeeption We have nothing to report in respect of the following matters where the Chartties (Accounts and Reports) Regulations 2008 requires us to rert to you if. in our opinion: the inforniation given in the Rert of the Trustees is inconsislent in any mateTial respect with the finan¢ial statements. or sufficient accounting records have not been keptr. or the ftsnancial statements are not in agreement with the accounting records and returns. or we have not received all the infonnation and explanations we wuire for our audit. Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE HUGH SYMONS CHAIUTABLE TRUST Responsibilities of trustees As explained more fully in the Statement of TTUStees' ResnSIbIlities. the trustees are responsible for the preparation of the financial statements which give a Ime and fair view. and for such internal control as the trustees deternline is necessary to enable the preparntion of financial slatements that atr fe from material misstatement, whether due to fraud or error. In preparing the financial statements. the tNstces aTe responsible for assessing the charity's abiltty to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the tSteeS either intend to liquidate the charity or to cease operations, or have no realistic altemative but to do Our responsibilities for the audit of the financial statements We have been appointed as audito under Section 144 of the Charities Act 2011 and rert in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain re&sonable Urance about whether the fmancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guardlltee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Mis5talem¢nts arise from fraud or enDT and are considered material if, individually or in the a&gregate. they could re&8onably be expected to influence the economic decisions of users taken on the b&sis of these financial statements. Erregularities, including frdud. are instances of non-compliance with laws and regulations. We design pro¢edures in line with our responsibilities, outlined above to detect material misstatements in respect of irregularities, including fraud. Th¢ extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We focussed on laws and regulations which could give rise to a material misstatement in the financial statements. including the Charities Act 2011. In common with all audits under ISAS (UK), we are also required to identify management overrid¢ as a significant risk and to perforn) specific procedures to respond to that risk. Our procedures included reviewing the financial statement disclosures and testing supwirting documentation to assess wmpliance with laws and regulations having a direct effect on the financial 5taternents. We also made enquiries of managemenL read minutes of meetings and perfornied analytical and substsntive procedures to identify unusual or unexpected events that may indicate risk5 of material misslatement due lo fraud. We tested the appropriateness of journal entries and assLssed whether judgements made are InditiVe of tK)lential bias. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement tcam mernbers. and remained alert to any indications of fraud throughout the audit. Because of the inherent limitations of an audiL there is a risk that we will not detcrt all irregulaTities. including those leading to a material misstatement in the financial statements or noTrcompliance with regulation. Thi5 risk increases the more thal compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intenlional concealmenl forgery, collusion, omi55ion or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Coun¢il's website at www.frc.org.uklauditorsresponsibilities. This deriptIOn fo5 part of our Report of the Independent AudiloTS. Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE HUGH SYMONS CHARrrABLE TRusr Use of our report This report is made solely to the charity's tTUStees. as a iM)dy, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purwse. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trnstees as a body, for our audit work, for this repotL or for the opinions we have form¢(L Andrews and Pa Statutory Auditors 32 The Square Gillingham Dorset SP8 4AR Ltd 9 January 2024 Page 6
THE HUGH SYMONS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2023 5.4.23 Total funds 5.4.22 Total funds Unrestricted Endowment funds fund Notes INCOME AND ENDOWMENYS FROM Donations and legacies ioo,000 loo.000 233,430 Investment income 211.340 211.340 71.639 Tolal 311,340 311,340 305,069 XPENDITURE ON Raising funds 17.403 17.403 42,497 Charitable activitie5 Direct charitable grants 418,OlXI 418,000 535,900 Other 4.926 4.926 4.426 Total 422,926 17,403 440,329 582.823 Net gainsl(losses) on investrnents (282.281) (282.281) 167.448 NET INCOMEI(EXPKNDITURE) {111.586) 235.422 (299.684) (235.422) (411.270) (110.306) Transfers between funds io Net movement in fun(Ls 123,836 (535,106 } {411,270) (110.306) RECONCJLIATION OF FUNDS Total funds brought forward 59,951 5.612.448 5.672.399 5.782,705 TOTAL FUNDS CARRIED FORWARD 183,787 5.077.342 5,261,129 5,672,399 The notes foTrn part of these financial statements Page 7
THE HUGH SYMONS CHAIUTABLE TRusr BALA]YCE SHEET S April 2023 5.4.23 Total funds 5.4.22 Total funds Unrestrided funds Endowment fund Notes FIXED ASSETS Investments 5.077,342 5,077.342 5,612.448 CURRENT ASSETS Prepayments and accrued income C&sh at bank 47.837 142.026 47.837 142,026 9,425 64,042 189.863 189,863 73,467 CREDITORS Amounts falling due within one year (6,076} (6,076) {13.516) NET CURRENT ETs 183,787 183,787 59.951 TOTAL ASSETS CURRENT LIABILITIES 183.787 5,077,342 5,261,129 5,672.399 NET ASSETS 183,787 5.077J42 5.261,129 5,672.399 FUNDS Unrestricted funds Endowment funds io 183.787 5,077,342 59,951 5.612.448 TOTAL FUNDS 5261.129 5,672,399 The financial statements were approved by the Board of Trustees and authorised for issue on 9 January 2024 and were signed on ils behalf by.. MrGHRoper-T Mrs P H Roper- Trustee The notes fonn part of these financial statements Page 8
THE HUGH SYMONS CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS for the Ytar Ended 5 April 2023 ACCOUNTING POLICIES Basis of preparing the fingncial statements The financial statements of the charity, which is a public benefit enlity UTJd¢r FRS 102. have been prepared in accordance with the Charities SORP {FRS 102) 'AOuntIng and Reporting by Charities.. Statement of Recommended Pral¢e applicable to charities preFwing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019)., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial slatements have been prepared under the historical ¢ost convention. with the exception of investments which are included at market value. Income All income is recognised in the Statemenl of Financial Activities once the chaTity has entitlement to the funds, it 15 probable that the income will be received and the amount can be measured reliably. Donations are recognised when the Tnt has been notified in writing of iw)th the amount and settlement date. Intest on ndS held on dqKlSit is included when receivable and the amount can be measured reliably by the Trust. This is nornially on notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification received of the dividend due. This is nornially upon notification by our stockbrokers and inveslment advisers. Expenditure Liabilities are recognised as expenditure as soon as there TS a legal or constructive oblTgation Committing the charity to that expenditure. it is probable that a transfer of ewnornic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accNals basis and has been classified under headings that awegate all cost related to the category. Where costs camiot be directly attributed to particular headings they have been allo to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged against the expenditure heading for which it was incurred. Grants payable are payments made to third parties in the fill1herdnce of the charttable objectives of the trust. In the case of an unconditional grant offer this is accrued once the recipient h&s been notified of the grant. Gr2nts thal are subject lo the recipient fulfilling perforniance conditions are only accrued when the recipient has been notified of the grant. The trusle¢s will not bind themselves contractually or otherwise to make future grdnts. Raising funds The costs of generaling funds consist of investment management and cetsin legal and professionat fees. Governance costs Govemance costs include costs of the Preparation and examination of statutory aountS and the w5t of any legal and professional advice to trustees on governance or constitutional matters and administratton of the trust. Governance costs are allocated as other costs within the genernl unrestricted fund. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted ndS can be used in accordance with the charitable objectives at the discretion of the trustees. The unrestrlcted ndS are ls follows: Income Fund This fund represents income generated frorn the invesknents held within the expendable endowment fund and bank interest received on undistributed incorne fund de)sIts, net of charitable expenses and governance costs. Page 9 continued...
THE HUGH SYMONS CHAIUTABLE TRUST NOTES TO THE FINANCIAL sfATEMENTS- Continued for the Year Ended S April 2023 AccouiYfiNG POLICIES- eontinued Fund aeeounting Expendable EndoNwm¢nt Fund This fimd represents the market value of investments net of inveslment management costs. The trustees have absolute discretion to use iK•th capitsl and income for the same charitable purposes in accordance with the trust deed. Restricted fi5nds can only be used for particular restricted pUr5¢S within the objects of the charity. Restriction5 arise when specified by the donor or when thnds are ratsed for particular restricted purposes. The charity does not have any restricted fimds. Fixed asset investments and financial instrnments Inveslments are a fonn of basic financial instrument and are initially recogni5ed their transaction value and subs4uently measured at their market value &s at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The charity does not acquire put options. derivatives or other wrnplex finan¢iaI instruments. Realised and unrealised gains 4Dd1055e5 on invtttmtnts All gains and losses are taken to the statement of financial actÉvities as they arise. Realised gains and losses on investments are calculated &$ the difference between sales proceeds and th¢iT oping carrying value or their purch&se value if acquired during the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the yvar end and their caryying value. Rdised and unrealised investment gaTns and losses are combined in the Statem¢nt of Financial Activities. Debtors Trade and other debtors are recognised at the settlement amount receivable. Prepayments are valued at the historic cost of the amount prepaid. Cash At bank C&8h at bank is defined by the charity as funds available to be used immediately. Creditors Creditors and provisions are recognised where the charity h&8 a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably. Creditors and provisions are recognised at their settlement amount. INVESTMENT INCOME 5.4.23 5.4.22 UK stock exchange- Dividends UK stock exchange- Fixed interest Bank interest 207.772 3.141 427 40,953 30,656 30 211,340 71,639 Page 10 continued...
THE HUGH SYMONS CHARfrABLE TRUST NOTES TO THE FINANCIAL sfATEMENTS- continued for the Ye4r Ended 5 April 2023 RAISING FUNDS Investment management costs 5.4.23 5.4.22 Portfolio management 17.403 42,497 GRANTS PAYABLE 5.4.23 5.422 Direct charitable grants 418,000 535,900 Direct charitable grants were made to 33 (2022 - 37) diffeffnt charitable and voluntary instttutions. The grants were made under the following categories to the bodies named below:. 5.4.23 5.4.22 Healih and Welfare British Red Cross Crisis at Christmas The LunchlKswI Network Bede Brain Tumour SupFK)rt Cerebal PsY Plus Strongbones Children5 Trust Carers Trust Fare Share Crisis Off the Fence Sight Savers Cruse Bereavement Centre 3 (3) Other grdnts up to £1,000 each 150,000 3,000 1500 2,000 1000 1000 2.000 200,000 2,000 2.000 1,500 4,000 3.000 2,000 2,000 1.500 3,000 3.000 168,500 221,0(H) 5.4.23 5.4.22 Overseas Development and Heahheare Medecins Sans Frontieres Oxfam Action Aid African Promtse All Ears Cambodia International Reue Comrnittee Microloan Foundation Concem Worldwide Sense International Childrens of Ther Mekong Hands Around the World Sightsavers Solar Aid The Leprosy Mission Their Future Today Trio Uganda Christian Aid Mercy Ships Lotus Flower Tt 70,IM)O 57,500 20,000 5,000 5,000 5.000 5.000 3,000 3.000 2,500 2,500 2,000 2,000 2,000 2,000 2,000 60,000 60,000 15.000 5,000 5.000 5.000 4.500 40,000 7,500 5.000 Pagell ontinued...
THE HUGH SYMONS CHARrrABLE TRUST NOTES TO THE FII¥4ANCIAL sfATEMENTS- continued for the Year Ended 5 April 2023 GRANfs PAYABLE - continued Malaika Kids MAP Plan International RMC Shropshire Supports Refugees Team Kenya Untcef Village Water Youth Build Future The Makhad Trust Separated Child Tools for Self Reliance Sift l (O) Other grants up to £l.000 each 5,(M)O 5,000 5,000 5.000 5.000 5,000 5,000 5,000 5,000 3,900 3,000 3.000 2,000 189,500 263,900 5.4.23 5.4.22 Environmental WWF o (l) Other grants up to £l.O(Xi each 60.000 50,000 1.000 60.000 51,000 Totsl grgnts for year 418.000 535.900 AUDITORS, REMUNERATION 5.4.23 5.4.22 Fees payable to the Charity's auditors for the audit of the charity's financial statements Auditors, Temuneration for non audit work 2.080 1,700 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022. Trnstees, expenses There were no tn]stees' expenses paid for the year ended 5 Aprxl 2023 nor for the year ended 5 April 2022. Page 12 continued...
THE HUGH SYMONS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENfs- continued for the Year Ended S April 2023 COMPARATIVES FOR THE STATEMENT OF FITrIATrICIAL ACTIVITIES Unrestricted fimds Endowment fund Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 233,430 233.430 Investment income 71.639 71,639 Total 305.069 305.069 EXPENDrruRE ON Raising funds 42,497 42,497 Charitable activities Dit charitable grants 535,900 535,900 Other 4.426 4,426 Total 540,326 42,497 582,823 Net gains on investments 167,448 167,448 NET INCOMEI(EXPENDrruRE) Tr2nsfers between funds (235257) 284,505 124,951 (284,505) (110,306) Net movement in fun(Ls 49248 (159,554) (110,306) RECONCJLIATION OF FUNDS Total funds brought fotivard 10.703 5.772.002 5.782.705 TOTAL FUNDS CARIUED FORWARD 59.951 5.612,448 5,672J99 FIXED ASSET INvEmENTs Listed investments MARKET VALUE At 6 April 2022 Additions Disposals Revaluations including cash movement 5,612,448 4,907,054 (5,303,418) (138.742) At 5 April 2023 5,077,342 NET BOOK VALUE At 5 April 2023 5.077.342 At 5 April 2022 5.612.448 Page 13 contTnued...
THE HUGH SYMONS CHARrrABLE TRUST NOTES TO THE FINANCIAL ATEMENTs- continued for the Year Ended 5 April 2023 FIXED ASSET INVESTMENfs- continued The investments are located as follows. 5.4.23 5.4.22 Within UK Outside the UK 4.730.547 346.795 2,247,926 3,364.522 5.077.342 5,612.448 The following investhients have a market value greater then 50/0 of the total portft)lio of listed inveslments. 5.4.23 5.4.22 Cazenove Charity Response Fund Brown Adv Lyxor Core US Tips Schroder Gl Su5t Grwth 4,383.068 300.532 395,121 802,099 All investments are caffied at their market value. Investment in equities and fixed interest securities are all traded in quot public markets. primarily the London Stock Exchange. Analysis of investments at fAir value 2023 2022 Equities Multi-Asset Funds Fixed interest securities Cash held within the inv¢s¢rnent portfolio 346,795 4,383,068 3.647.982 1,282.531 681,935 347.479 5.077.342 5,612,448 The main risk to the Trust from fmancial instrurnents lies in the combination of uncertain investment markets and volatility in yield. The Trnst is reliant on dividend yield in part to finance its grant making activities. The Trust manages these investhient risks by retaining experts advisors and operdting an investment policy tha¢ in addition to meettng ethical criterii provides for a high degree of diversifJc8tion of holdings within investment &8set classes thal are quoted on recognised stock exchanges. Page 14 continued...
THE HUGH SYMONS CHARITABLE TRU NOTES TO THE FINANCIAL sfATEMENfs- continued for the Year Endtd S April 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.23 5.4.22 Other creditors 6.076 13,516 io. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 5.4.23 At 6.4.22 Unrestricted funds Unrestricted income fund 59.951 (111.586) 235,422 183.787 Endowment funds Unrestricted expendable endowment fimd 5,612,448 (299,684) (235.422 } 5.077.342 TOTAL FUNDS 5,672,399 (411270) 5.261,129 Net rnovement in funds, included in the at()ve are &$ follows: Incoming resources Resources expend¢d Gains and losses Movement in funds Unrestrieted funds Unrestricted income fund 311J40 {422,926) (111.586) Endowment funds Unrestricted expendable endowment fimd (17,403) (282281) (299.684} TOTAL FUNDS 311,340 (440.329) (282.281) (411,270) ComparA¢ives for movement in fund8 Net movement in fijnds Transfers between funds At 5.4.22 At 6.4.21 Unrestrided ndS Unrestricted income fund 10,703 (235.257) 284,505 59.951 Endowment funds Unrestricted expendable endowment fimd 5,771002 124.951 (284,505) 5.612.448 TOTAL FUNDS 5,782,705 {110,306) 5.672,399 Page 15 continued...
THE HUGH SYMONS CHARrfABLE TRusr NOTES TO THE FINAIYCIAL sfATEMEiYfs- Continued for the Year Ended 5 April 2023 io. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the alK)v¢ are as follows.. Incoming Resources expended Gains and losses Movement in funds Unrestricted funds Unrestricted income fund 305,069 (540J26) (235,257) Endowment funds Unrestricted expendable endowment fund (42.497) 167,448 124.951 TOTAL FUNDS 305.069 (582.823) 167,448 (110.306) A current year 12 months and Prior year 12 months combined w)silion is as follows.. Net movement in funds Transfers between fiinds At 5.4.23 At 6.421 Unrestricted funds Unrestricted income fund 10.703 (346.843) 519,927 183.787 Endowment fvnds Unrestricted expendable endowment fimd 5,772,(K12 {174.733) (519,927) 5.077,342 TOTAL FUNDS 5,782,705 (521.576) 5.261.129 A current year 12 months and prior year 12 months combined net rnovement in fimds. included in the alx)ve are as follows.. Incoming Tesources Resources expended Gains and losses Movement in funds Unreslrieted funds Unrestricted income fund 616,409 (963,252) (346,843) Endowment fund5 Unrestiicted expendable endowment fimd (S9,}) (114,833) (174.733) TOTAL FUNDS 616,409 (1,023.152) (114,833) (521,576) Inwme Fund This fimd represents in¢ome generated from the investments held within the expendable endowment fid and bank interest received on undistrlbubj inwme fund depN)sits, net of charttable expenses and governance costs. Expendable Endowrnent Fund This fund represents the market value of investments net of investment management costs. The trustees have absolule discretion to use Ix)th capital and income for the same charitable pUSeS in accordance with the trust deed. Page 16 continued...
THE HUGH SYMONS CHAIUTABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- tontinued for the Year Ended 5 April 2023 RELATED PARTY DISCLOSURES During the year donations totalling £IOO.000 were received from a company ultimately owned by G H Roper, which was free from restrictions and was used to 5UPFK)rt the charity's activities. Page 17