**REGISTERED CHARITY NUMBER: 1139716** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2022 for The Holmes Family Trust (Sheffield) The Tax Team Limited Omega Court 368 Cemetery Road SHEFFIELD S11 8FT The Holmes Family Trust (Sheffield) Contents of the Financial Statements for the Year Ended 31 December 2022 |||Page|| |---|---|---|---| |Report of the Trustees|1|to|3| |Independent Examiner's Report||4|| |Statement of Financial Activities||5|| |Balance Sheet||6|| |Notes to the Financial Statements|7|to|11| |Detailed Statement of Financial Activities||12|| The Holmes Family Trust (Sheffield) for the Year Ended 31 December 2022 ## Report of the Trustees The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and activities** The objects of the charity are to advance the Christian faith in the UK and around the world. The charity does this by supporting individuals, projects and other charities which improve the lives of some of the poorest in the world, and those in danger, sharing God's love in practical ways. In planning their activities the trustees have considered the Charity Commission's guidance on public benefit. ## **ACHIEVEMENT AND PERFORMANCE Charitable activities** Justice & Care update 2022 Justice and Care exists to bring freedom to individuals and communities living in the grip of slavery, to bring all those responsible for human trafficking to justice and to spark systemic change. The charity outworks its vision in three ways - by undertaking frontline work in the UK, Romania and Bangladesh, through strategic joint operations with like minded organisations and through a commitment to sparking systemic change, extracting lessons from the frontline work and translating them into ways governments and stakeholders can fight this crime at scale. Over the last 12 months, the impact of the work of Justice and Care has continued to grow, with survivors empowered to start businesses and enter positions of leadership, investigations supported, traffickers convicted, and targeted research and advocacy undertaken to shape the global fight. We are currently supporting the prosecution of more than 900 accused traffickers across 310 ongoing cases. Court processes move slowly, but we are seeing nationally significant numbers of convictions in Bangladesh; and, in the UK, police repeatedly assert that court cases would have fallen apart without our Victim Navigators supporting survivors to bravely testify. Demand for our specialist support is sadly relentless, with 108 new survivors entering our aftercare programmes over the last six months. Other Charities / Individuals supported in 2022 The Well Church on Ecclesall Road Sheffield. The Wroe Family, developing support for families, children and youth workers in Sheffield and beyond. Emmanuel Manishimwe (via The Kings Foundation) - HCAA / Kisoro OVC Intervention Project - Uganda - supporting orphans and vulnerable children obtaining quality education, growing healthy and developing essential skills, confidence, and opportunity project. ## **FINANCIAL REVIEW** ## **Financial review and reserves policy** The Statement of Financial Activities for the year is set out on page 3 of the financial statements. Income in the year was £41,700 (2021 - Nil), and total expenditure was £64,402 (2021 - £58,928), resulting in net outgoing resources of £22,702 (2021 - £58,928. There were unrealised losses during the year of £28,296 (2021 - £30,811gain ) on investment assets. Unrestricted funds carried forward at the year end were £258,322 (2021 - £309,320) The charity has been set up with initial donations with the intention that these are to be fully utilised over a period of several years. As almost all of the expenses of the charity are grants to individuals or other charities and there are no ongoing commitments there is no need to maintain any reserves for future obligations. The funds held by the charity are invested in low-risk investments. Page 1 The Holmes Family Trust (Sheffield) ## Report of the Trustees ## for the Year Ended 31 December 2022 ## **FUTURE PLANS** The trustees intend to continue identifying the need for support for individuals and small organisations. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity was set up on 29 October 2010 and is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. ## **Trustees** New trustees are elected by existing trustees. Trustee training is delivered in an informal setting upon request if specific needs arise (e.g. new legislation). All trustees give their time freely and no remuneration was paid during the year. ## **Organisational structure** Trustee meetings are held regularly. Decisions are made by discussion, debate and , if not unanimous, by vote. Mr A Holmes, the chairman, has the casting vote should voting be tied. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1139716 ## **Principal address** Bank Green House Fox Lane Millthorpe Derbyshire S18 7WG ## **Trustees** A Holmes Chairman R Holmes A Robertson C Beech ## **Independent Examiner** T Barlow The Tax Team Limited Omega Court 368 Cemetery Road SHEFFIELD S11 8FT ## **Bankers** Royal Bank of Scotland plc 184 Whitham Road Broomhill SHEFFIELD S10 2SS Page 2 The Holmes Family Trust (Sheffield) for the Year Ended 31 December 2022 ## Report of the Trustees Approved by order of the board of trustees on 26 June 2023 and signed on its behalf by: A Holmes - Trustee Page 3 Independent Examiner's Report to the Trustees of The Holmes Family Trust (Sheffield) ## **Independent examiner's report to the trustees of The Holmes Family Trust (Sheffield)** I report to the charity trustees on my examination of the accounts of The Holmes Family Trust (Sheffield) (the Trust) for the year ended 31 December 2022. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. T Barlow The Tax Team Limited Omega Court 368 Cemetery Road SHEFFIELD S11 8FT 28 June 2023 Page 4 The Holmes Family Trust (Sheffield) Statement of Financial Activities for the Year Ended 31 December 2022 |2022
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
41,700
**EXPENDITURE ON**
**Charitable activities**
3
Individuals
4,160
Institutions
59,620
Other
622
**Total**
64,402
Net gains/(losses) on investments
(28,296)
**NET INCOME/(EXPENDITURE)**
(50,998)
**RECONCILIATION OF FUNDS**
Total funds brought forward
309,320
**TOTAL FUNDS CARRIED FORWARD**
258,322
**CONTINUING OPERATIONS**|2021
Total
funds
£
-
4,560
53,680
688
58,928
30,811
(28,117)
337,437
309,320| |---|---| All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 5 The Holmes Family Trust (Sheffield) ## Balance Sheet ## 31 December 2022 |2022
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Investments
8
245,347
**CURRENT ASSETS**
Cash at bank
13,575
**CREDITORS**
Amounts falling due within one year
9
(600)
**NET CURRENT ASSETS**
12,975
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
258,322
**NET ASSETS**
258,322
**FUNDS**
10
Unrestricted funds
258,322
**TOTAL FUNDS**
258,322|2021
Total
funds
£
298,643
11,247
(570)
10,677
309,320
309,320
309,320
309,320| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 26 June 2023 and were signed on its behalf by: A Holmes - Trustee The notes form part of these financial statements Page 6 The Holmes Family Trust (Sheffield) Notes to the Financial Statements for the Year Ended 31 December 2022 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 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 statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Fixed asset investments** Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains / losses arising on revaluations throughout the year. ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**|||| |---|---|---|---| ||2022|2021|| ||£|£|| |Donations|41,700||-| continued... Page 7 The Holmes Family Trust (Sheffield) Notes to the Financial Statements - continued for the Year Ended 31 December 2022 |**3.**|**CHARITABLE ACTIVITIES COSTS**|||| |---|---|---|---|---| |||||Grant| |||||funding of| |||||activities| |||||(see note| |||||4)| |||||£| ||Individuals|||4,160| ||Institutions|||59,620| |||||63,780| |**4.**|**GRANTS PAYABLE**|||| ||||2022|2021| ||||£|£| ||Individuals||4,160|4,560| ||Institutions||59,620|53,680| ||||63,780|58,240| |**5.**|**SUPPORT COSTS**|||| ||||Governance|| |||Finance|costs|Totals| |||£|£|£| ||Other resources expended|22|600|622| |**6.**|**TRUSTEES' REMUNERATION AND BENEFITS**|||| ||There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year|||| ||ended 31 December 2021.|||| |**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|||| |||||Unrestricted| |||||fund| |||||£| ||**EXPENDITURE ON**|||| ||**Charitable activities**|||| ||Individuals|||4,560| ||Institutions|||53,680| ||Other|||688| ||**Total**|||58,928| ||Net gains on investments|||30,811| ||**NET INCOME/(EXPENDITURE)**|||(28,117)| ||**RECONCILIATION OF FUNDS**|||| ||Total funds brought forward|||337,437| continued... Page 8 The Holmes Family Trust (Sheffield) Notes to the Financial Statements - continued for the Year Ended 31 December 2022 ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** |||Unrestricted| |---|---|---| |||fund| |||£| ||**TOTAL FUNDS CARRIED FORWARD**|309,320| |**8.**|**FIXED ASSET INVESTMENTS**|| |||Listed| |||investments| |||£| ||**MARKET VALUE**|| ||At 1 January 2022|90,000| ||Disposals|(25,000)| ||At 31 December 2022|65,000| ||**PROVISIONS**|| ||At 1 January 2022|(208,643)| ||Provision for year|28,296| ||At 31 December 2022|(180,347)| ||**NET BOOK VALUE**|| ||At 31 December 2022|245,347| ||At 31 December 2021|298,643| There were no investment assets outside the UK. Investment is in the Authorised Unit Trust - Sarasin Endowments Fund (Accumulation Units). Distributions totalled £7,532 in the year and this is reflected in the share price and is not received as a payment. Units Price Value Opening Value at 1 Jan 2022 86,513 345.20p £298,643 Closing Value at 31 Dec 2022 78,813 311.30p £245,347 The net loss on the investment is £28,296 which reflects the price decrease per unit during the year of 33.90p per unit. 7,700 units were redeemed at 324.70p per unit in August 2022 for £25,000. continued... Page 9 The Holmes Family Trust (Sheffield) Notes to the Financial Statements - continued for the Year Ended 31 December 2022 ## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other creditors
**10.**
**MOVEMENT IN FUNDS**
At 1.1.22
£
**Unrestricted funds**
General fund
309,320
**TOTAL FUNDS**
309,320
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
41,700
(64,402)
**TOTAL FUNDS**
41,700
(64,402)
**Comparatives for movement in funds**
At 1.1.21
£
**Unrestricted funds**
General fund
337,437
**TOTAL FUNDS**
337,437
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
-
(58,928)
**TOTAL FUNDS**
-
(58,928)|2022
2021
£
£
600
570
Net
movement
At
in funds
31.12.22
£
£
(50,998)
258,322
(50,998)
258,322
Gains and
Movement
losses
in funds
£
£
(28,296)
(50,998)
(28,296)
(50,998)
Net
movement
At
in funds
31.12.21
£
£
(28,117)
309,320
(28,117)
309,320
Gains and
Movement
losses
in funds
£
£
30,811
(28,117)
30,811
(28,117)| |---|---| continued... Page 10 The Holmes Family Trust (Sheffield) Notes to the Financial Statements - continued for the Year Ended 31 December 2022 ## **10. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.21
£
337,437
337,437|Net
movement
in funds
£
(79,115)
(79,115)|At
31.12.22
£
258,322| |---|---|---|---| ||||258,322| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|41,700|(123,330)|2,515|(79,115)| |**TOTAL FUNDS**|41,700|(123,330)|2,515|(79,115)| ## **11. RELATED PARTY DISCLOSURES** Russell Holmes is the brother of Adrian Holmes, a trustee of the charity. During the year, grants of £800 (2021 - £1,200) were paid to Russell Holmes to support the work he does for Mercy Ships. Page 11 The Holmes Family Trust (Sheffield) Detailed Statement of Financial Activities for the Year Ended 31 December 2022 |Detailed Statement of Financial Activities
for the Year Ended 31 December 2022||| |---|---|---| ||2022|2021| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|41,700|-| |**Total incoming resources**|41,700|-| |**EXPENDITURE**||| |**Charitable activities**||| |Grants to institutions|59,620|53,680| |Grants to individuals|4,160|4,560| ||63,780|58,240| |**Support costs**||| |**Finance**||| |Bank charges|22|23| |**Governance costs**||| |Accountancy and legal fees|600|665| |Total resources expended|64,402|58,928| |**Net expenditure**|(22,702)|(58,928)| This page does not form part of the statutory financial statements Page 12