Company Number: 07963012 Ch•rlty Numb•r: 01146205 The Holbeck Charitable Trust (A Company Limited by Guarantee) Trustees, Report and Accounts for the year ended 5 Aprll 2024
The Holbeck Charitable Trust Contents P•9e Charlty Information Report of the Trustees . Independent Examinerfs Report Statement of Finandal Actlvlties. Balance Sheet. Note5 to the Accounts .10
The Holbeck Charitable Trust Charlty Informatlon Trustees G C Horsfield F A Horsfleld J R Lane (Chalr) V A Denman J M J Horsfield C L Seligman Secretary G Morrlson Reglster•d Charity Number 01146205 Company Number 07963012 Re9lstered Offlc• Rollits LLP Citadel House 58 High Street Hull HUI IQE Indépend•nt Examiner Alan Sidebottom FCA Azets Audit Ser¥ices Llmlted Triune Court Monks Cross Drlve York Y032 9GZ Bankers Hoare & Co 37 Fleet Street London EC4P 4DQ Inv•stment Advlsors Evelyn Partners 45 Gresham Street London EC2V 7BG Solldtors Rollits LLP Citadel House 58 High Street Hull HUI IQE
The Holbeck Charitable Trust Report of the Trustees for the year ended 5 April 2024 The trustees, who are also dirertors of the Charrty for the purposes of the Companies Act 2006, submit their report and independently examined accounts for Ihe year ended 5 April 2024 and confirm they comply with current statutory requirements. The accounts have been prepared in accordance with 'Accounting and Reporting by Charities: statement of Recommended Prartice. applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) as detailed in the accounting policies. Administrative Detalls The Charity is establistied as a company limited by guarantee, company number 07963012, and registered v4ith the Charity Commission with charity number 01146205. Structure. Governance and Management The goveming document of the Holbeck Charitable Trust is Its Articles of Association. The Charity does not actively fijndraise. The trustees, with the assistance of professional advisors, seek to manage the Charity's funds efficiently and expediently. When reviewlng the aims and objectives of the Charity, and in planning fijture activities, the trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Comrnission. Obj¢ctlves The Charity's purposes are specified in Its Articles of Association and are summarised on the Charity Commi55i(Jn's online Register of Charities. The Charity provides grants to other charities and to support charitable cause5. In the application of these objectives the trustees prioritise beneficiaries in the Yorkshire area, with specific national charities that wor1( with disadvantaged young people, with medical research and with the promotion of the arts and cultural aciivitles so that these are accessible to people from all walks of life, Public Benefit The trustees confimi that they have referred to the Charity Commission's general guidance on public benefit when reviewing the Charity's activitles, objettives, the grant making procedure and in establishing the grant making policy. Grant Maklng Policy and Procedure For those seeking grants, the tru5tee5 have formulated a grant making policy which is reviewed annually. Applications are invited at the discretion of the trustees. Applicants are alerted to the fart the Trust no longer accepts unsolitited applicatlons via a clear notification on the homepage of the Trust's website. Enquirers are directed to the Twst's register entry at the Charity Commission and given the contart details of the Trust's administrator. entry at the Charity CoMmisOn and given the contact details of the Trust's administrator. With larger grants, a formal grant agreement Is put in place, which includes: a clear description of the charitable purposes for whlch funds are being awarded; details of instalments and timing of payments- regular reporting on the way in which funds are being utilised; and claw back provisions against rtain contin9encies.
The Holbeck Charitable Trust Report of the Trustees for the year ended 5 April 2024 ForThe Holbeck Charitable Trust Scholarships the_ Charity tras developed criteria with 'The Excellence Hub Humber 6n6 Yoikshire., foi filLerirbg applicatiorbs. The Excellence Hub is delivered collaboratively by the Universities of York, Sheffield, Leeds and Hull. Infomation is also provided by the students, teachers including academic references and predicted A level grades. Final decision5 are made when the students have secured their place5 at university. These criteria are reviewed annually. Rlsk Management Policy and Practlce The trustees have sought to address the major nsks they have identified to which the Charity is exposed and have estab15shed systems and procedures to manage them. Inter-alia: The trustees appreciate that, because the Charity is purely grant making, one of the major risks to hich it Is exposed involves the management and performance of its investment portfolio. The trustees understand that it is their duty to safeguard the Charity's assets and manage these to Secure the payment of future grant instalrnents and fund future grants. The trustees have dele9ated the management of the Charity's investment portfolio to 5Ultably quallfied investment managers, Evelyn Partners, who use a total return approach in relation to these investments. The performance of the investment managers is fomially reviewed at the quarterly meetings of the trustees. The trustees also understand that another major risk to which the Charity is exposed when making grants is assurance that monies paid are used solely for the charitable purposes for which they are donated. For this reason, checks on each organisation requesting funding are undertaken. whereafter the fomial grant agreements include terFn'nation and claw-back provisions should recipients be in material breach. The trustees recognise that between the commitment of a grant and the date of payment the value of the underlying investments of the Charity could decline. Accorcjingly, they have adopted reserves policy summarised belosv to contain the risk that the Charity cannot meet the payments to which it is committed as they fall due. Achievements and Performance The Charity has furthere(J its objectives and public benefit requirements by awarding a range of grant5 to parties whose activities fit the criteria set out on pages 2 to 3. During the course of the year the trustees have maoe awards to 28 charitable organisations. Recent grants apprcved include the following.. Martin House received a one-off grant for £75,000 for its BUILD project to construct a brand new Children's Wing with nine accessible ensuite bedrooms at Martin House Children's Hospice to create a home-frorn-home environment while making it easier for children and young people to move arovnd and acce55 ensuite bathrooms easily an(i with dignity. The Festival of Ideas (University of York) was awarded a one-off grant of £20 000 to be paid in April 2024) to support the delivery of The York Festival of Ideas in 2024 thus providing some funding to help support the growth of the Festival so it can continue to attract international speakers to facilitate international audiences tuning in to the Festival by delivering partnered virtual events
The Holbeck Charitable Trust Report of the Trustees for the year ended 5 April 2024 Helmsley Arts Centre was awarded a grant of £15,000 to be paid in three annual instalments of £5,000 to help cover their overheaos in order to malntaln the full Arts Centre programme providing a broad range of arts programmes aimed at people of all ages. Ryedale Special Families ceiVed a grant of £20.000. The application had been for funding to help cover a building project framed so as the charity undertook worthwhile support to families of children and young people with disabilities, additional needs and illness, the grant awarded should not be restricted to use for the building projert but rather to enable its trustees to decide how to allocate it and whether to use it to 5UPPOrt their ongoing work or to use it as a contribution towards the building project. Addenbrooke's Charitable Trust received a grant of £30,000 to support its Cambridge Children's Hospital Campaign, to contribute towards the construction costs of the new hospital and lease matched funding required from Government and public sources. This will be the first of its kind purpose built children's hospital providing Integrated physical and mental healthcare, syith co-located researth, to children and young people aged 0-18 across the East of England. Cardinal Hume Centre received a grant of £30.000 to be paid in three annual instalments of £10,000. The Grant will be used by the Centre to help young people who need support to meet their needs and aspirations around their education and future careers. The grant will enable the Centre to continue to offer engaging actlvltles and to grow Its work with St Andrew's Youth Club and other providers. The Holbeck Charitable Trust Scholarships. to reward by way of cash grant exceptional academic perfomiance by individual students selected from acr055 Yorkshire who have won places at competitive entry universities having overcome significant adverse personal demands during their secondary education. This year the charity awarded grants to 15 students and pledged upon graduation an additional sum to each of them where a 2.1 or higher degree is awarded. The Future Over the next financial year the trustees will continue to iclentify suitable projects and charltable organisation5 in need of fvnding to fulfil the Charity's primary objectives. Reserves Pollcy The Charity does not have any assets or properties which are pennanent endowments. The trustees regard the net assets totalling £1,172,000 (2023 - £1,349,000) as the Charity's free reserves. Cash and deposit balanos are maintained to be able to meet outgoings and grant obligations from time to time, but the major portion of the assets are held in an investment fund managed by Evelyn Partners. The reserves policy is reviewed on an annual basis. In the current economic environment, the trustees are particularly mindful of the need to contain the risk that the Charity cannot meet the payfftents to which it is committed should the value its underlying investments decline or in some material respect become illiquid. The current reserves policy is not to commit the charity to future expenditure of more than one third of the capital value of the Charity's assets at any one time and to ensure that sufficient cash is available from time to time at least to meet outgoings in the succeeding three month period.
The Holbeck Charitable Trust Report of the Trustees for the year ended 5 April 2024 Investment Poliry managers of the investment portfolio Evelyn Partners use a total return approach. Representatives from Evelyn Partners attend each regular meeting of the Trustees to report on the investment performance and to ascertain the forthcoming cash requirements of grant making decisions. The trustees monitor the investment manager's performance. There are no social, environmental, or ethical constraints impose<l by the trustees in their instructions to the Investment managers. Financlal Review The income from investments during the year was £51,000 (2023.. £62,000). During the year, fresh commitments amounting to £233.000 (2023 £108,000) were entered into comprising grants to various institutions £190,000 (2023 £75,000) and individuals £43,000 (2023 £33,000), as detailed below. Commltments unpald at Commitments Paid in 5 April 2023 In 2023/24 2023/24 £'ooo £'ooo £'ooo Commitments unpald at 5 April 2024 £'ooo Intouniversity 54 (18) 36 Richard Shephard Music Foundation Marylebone Cricket Club Foundation Cardinal Hume Centre 15 (15) (7) 30 (io) 20 Addenbrooks Charitable Trust 30 (30) Ryedale Special Families 20 (20) Martin House Hospice 75 (75) University of York Festival of Ideas Grants individually below £20,000 at ince tion Total 20 20 24 58 (72) 12471 io loo 233 86 At the year-end unpaid commitments amounted to £86.000 as set out above, 50 as to leave uncommitted reserves amountin9 to £1,172,000 as set out in the balance sheet on page 8.
The Holbeck Charitable Trust Report of the Trustees for the year ended 5 April 2024 statement of Trustees. Responsibilities The trustees (who are also directors of the Charitable Company for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the accounts in accordance with applicable law and United Kingdom Accountin9 Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affalrs of the Charitable Company and of the incoming resources and pplication of resources, induding the income and expendlture, of the Charitable Company for that period. In preparing these accounts, the trustee5 are required to- Select suitable accountin9 policie5 and then apply them consistently. Observe the methods and principles in the Charities SORP. Make judgements and estimates that are reasonable and prudent; State whether applicable UK Accounting Standards have been followed, subjert to any materlal departures disclosed and explained in the accounts; and Prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in busine55. The trustees are responsible for keeping pmper accounting records that disclose with reasonable accuracy at any tlme the finanoal position of the Charitable Company and enable them to ensure that the accounts comply wlth the Companies Act 2006. They are also re5ponslble for safeguardlng the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. Small Company Rules This report has been prepad in accordance wsth the special provisions relating to small companies within Part 15 of the Companies Act 2006. ort was approved by board of trustees on ..16-0&'ethkW£pnd signed on their The Truste s, Re behalf by:_ J R Lane- Trustee (Chair)
The Holbeck Charitable Trust Independent Examlner's Report to the Trustees of The Holbeck Charitable Trust I report to the trustees on my examination of the accounts of The Holbeck Charitable Trust {the Charity) for the year ended 5 April 2024. This report is made solely to the Charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might State to the Charity's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's trustees as a body, for my independent examination work, for this report, or for the opinions I have formed. Responsibilitles and basis of report As the trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan wtth the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying Out my examination I have followed all the applicable Dirertions given by the Charity Commlssion under section 145(5)(b) of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: l) accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2) the accounts do not accord with those records; or 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). I have no concems and have come across no other matters in connertion 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. Alan Sidebottom FCA Azets Audit Services Limlted Triune Court Monk5 Cross Drive York Y032 9GZ 2311212024
The Holbeck Charitable Trust Statement of Flnancial Activities {including Income and Expenditure Account) for the year ended 5 April 2024 Unrestricted Designated funds funds £'ooo £'ooo 2024 £'ooo 2023 £'ooo Income from.. Investment incorne 51 51 62 Total income 51 51 62 Expenditure on.. Envestment management costs Charitable activities 291 291 146 Total expendlture 298 298 155 Net movement before other recognised galns and losses Net gain/(10ss) on investments (247) (247) (93) 70 70 (132) Net Incom¢/lexpenditure) (177) (177) (225) Tran5fer5 between fund5 Net movement in funds (177) (177) (225) Funds bought forward 1,349 1,349 1,574 Funds carried forward 1,172 1,172 1,349 The Statement of Financial Attivities complies with the requirements for an income and expendlture account under the Companies Act 2006 and includes all gains and losses recognised in the year. All income and expenditure derives from continulng activities. The notes on pages 10 to 16 form part of these accounts. A detailed Statement of Financial Activities for the year ended 5 April 2023 is shown at note 12.
The Holbeck Charitable Trust Balance Sheet as at 5 April 2024 2024 2023 Notes £'ooo £'ooo £'ooo £'ooo Fixed assets Investments 1,219 1,380 Current assets Debtors Cash at bank and in hand 54 84 56 87 Credltors: amounts falling due within one year (70) (82) Net current (liabillties)/assets Total assets less current liabilltles (14) 1,205 1,385 Creditors: amounts falllng due after more than one year Net assets (33) (36) 1,172 1,349 Funds Designated Unstrirted 1,172 1,349 Total funds 1,172 1,349 For the financial year ended 5 April 2024 the Charitable Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The directors and trustees acknowledge their responsibilitie5 for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The rnernbe have not reouired the company to obtain an audit of its financial statements for the year in question in accordance with section 476. The accounts, which have been prepared in accordance with the special provisions of Part 15 of the Com nies 06 applicable to small companie5, were approved by the directors and trnstees on nd signed on its behalf. G C Horsfield Trustee JRLane Trustee,, Companv Registration Number: 07963012
The Holbeck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 Accounting pollcles The principal accounting policies adopted, Judgements and key sour5 of estimation UnrtaIntY in the preparation of the accounts are a5 follows: 1.1 Company Informatlon The Holbeck Charitable Trust is a company limited by guarantee which does not have share capitsl. The liability of members is limited to £1 per member (as stated in the Articles of Association). The registered office Is Rollits LLP, Citadel House, 58 Hlgh Street. Hull. HUI IQE. 1.2 Accounting convention The accounts have been prepared on a going concem basis in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) fcharities SORP {FRS102)"), the Financial Reporting Standard applicable in the UK and Ireland ("FRS 102?. the Companies Act 2006 and the Charities Act 2011. The amendment to Charities SORP (FRS102) has been adopted in these accounts. The accounts are prepared in steding, which is the functional currency of the Charity. Monetary amounts in these accounts are rounded to the nearest £1,000. The Holbeck Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially reco9nised at cost or transaction value unless Otherwise stated in the relevant accounting policy notes. 1.3 Going concern The trustees have at the time of approving the accounts a reasonable expertation that the Charity has adequate resources to contlnue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going conrn basis of accountin9 in preparing the accounts. 1.4 Income Income is rect)gnised in full in the Statement of Financial Activities in the year in which it is receivable. 1.5 Income from Investments Dividend income from investment funds is inclu(ied when receivable and the amount can be measured reliably by the Charity. thi5 is normally upon notification of dividends paid or payable by the Fund Manager. 1.6 Expenditure Expenditure (excluding grants) is included in the Ststement of Financial Activities on an accruals basis and includes the irrecoverable element of value added tax. 1.7 Grants Grants payable a cornmitrnents (including payments) made to third parties in the furtherance of the charitable objertives of the Trust. Single or multi-year grants are accounted for as grants payable when either the recipient has a reasonable expectation that they will ceIve a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the Trust. 1.8 Fixed asset investments Investments are stated at market value at the balance sheet date. The investment portfolio, see note 4, is held to generate retums and gain5 for the Charity and accordingly is designated as fair value through profit and loss ("MPL-)- Under this designation the portfolio is revalued at each period end to its fair value, as determined by reference to quoted market price5 and values determined by independent fund managers. with any gains or losses going through the Statement of Financial Artivities. io
The Holbeck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 (continued) 1.9 Flnancial Instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of Its financial instruments. 1.10 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity held for working capital. Bank overdrafts are shown within borrowing in current liabilities. 1.11 Debtors Trade and other debtors are recognised at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid. Financial assets, other than those held at fair value through profit and loss. are assessed for indicator5 of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that ocCUed after the initial recognition of the financial asset, the estimated future cash flow5 have been affected. The impairment loss is recognised in the income ènd expenditure account. 1.12 Credltors, loans and provisions Credltor5, loans and provisions are recognised where the Charity has a present obligation resulting from a past event that wi51 probably sUIt In the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 1.13 Funds All fvnds received in the year are unrestricted in their application, the trustees having full discretion over their use. Unrestricted funds include deslgnated funds where the trustees, at their discretlon, have earmarked monies for a specific purpose. 1.14 Taxatlon The Charitable Company is a registered charity and as such is a charity within the meaning of schedule 6 of the Finance Act 2010. Accordingly, the Charity is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arlsing. 1.15 Critical accounting estimates and judgements In the application of the Charity's accounting policies, the trustees are requlred to make Judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlylng assumptions are reviewed on an ongoing basls. Revisions to accounting estimates are recognised in the penod in which the estimate is revised, if the vision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The trustees have judged that there are no estimates or assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities. li
The Holbeck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 (continued) Investment Income 2024 £'ooo 2023 £'ooo Dlvldends receivable 35 37 Interest recelvable 16 25 51 62 Charltable activitles expenditure 2024 £'ooo 2023 £'ooo Grants to Inststutlons Advancement of medical research and palliative care 105 14 Advanment of education 20 23 Provlslon of publlc amenities/recreation fadlltles Provislon of relief to deprived areas le other than education 16 13 30 13 child nl 12 oun 20 Total grants to institutions Grants to Individuals 191 75 Advanment of education 42 33 Total rants 233 108 Support costs Admlnlstrative and legal services 31 26 Independent Examinerfs fees Independent Examinerfs fees for other services Website costs Scholarship scheme adminlstration Trustee indemnl Insurance 21 Total su rt costs 58 38 Total e nditure on charitable artlvitles 291 146 12
The Holbeck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 (continued) Charitable artlvltles expendlture (contlnued) 2024 £'ooo 2023 £'ooo Reconciliation of grants payable Grants committed in the year Opening commitments Grants aid durin the 233 108 loo 212 ear (247) 86 (220) Commltments at 5 April loo 2024 £'ooo Commltments at 5 Aprll were payable as follows: Due within one year (Note 6) Due after more than one year (Note 71 Commitments at 5 April 2023 £'ooo 53 64 33 36 86 loo To comply with Charities SORP (FRS 102) non-performance grants are reported in the Statement of Financlal Activitie5 on approval of appllcation. In some cases, payment may be spread over a perlod of time which give5 rise to future commitments. These are reported as creditors and shown in note5 6and7. There were no staff employed by the Charity. The trustees are unpaid and did not Ceive any benefits or expenses from the Charity in the year. expt as disclosed in note 10. Fixed asset Investments 2024 £'ooo 2023 É'ooo Market value brought forward Add.. Additions to investments at cost Less.- Disposal proceeds Net gain5/{Iosses) on revaluation 1,380 295 1,704 179 {526) 70 {371) (132) Market value as at 5 April Hlstoric cost as at 5 April 1,219 1,380 The market value of the investment portfolio can be categorised as follows: 2024 £'ooo 2023 £'ooo UK Fixed Interest Securities UK Equities Collective Funds 61 99 72 40 1,000 1,085 Overseas Fixed Interest Securities Market value at 5 April 86 156 1,219 1,380 13
The Holbeck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 (continued) Debtors 2024 £'ooo 2023 £'ooo Other debtors Creditors: amounts falling due within one year 2024 £'ooo 2023 £'ooo Accruals 17 18 Grant commitrnents 53 64 70 82 Credltors: amounts falllng due after one more than one year 2024 £'ooo 2023 £'ooo Grant commitments 33 36 Unrestricted and designated funds 2024 £'ooo 2023 £'ooo Unrestrirted funds." As at 6 April 1,349 1,574 Net expenditure (247) {93) Realised and unrealised ainsl losses 70 (132) Asat5A 1,172 1,349 General reserves indude an unrealised gain on tnvestments of £lll,000 {2023- gain of £83,000). 2024 2023 £'ooo £'ooo Deslgnated funds." As ot 6 April Net expenditure eneral funds Transfer from As at 5 April Totsl unrestricted funds at 5 A 1,172 1,349 Funds have been classed as Designated where prior to the year end the Trustees had earmarked grants to be paid, however the grant agreement was not signed at the year end. 14
The Holbeck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 (continued) Analysis of Net Assets by Fund Year ended 5 April 2024 Net Long Current term Assets Creditors £'ooo £'ooo {14) (33) Investments £'ooo 1,219 Total £'ooo 1,172 Unrestrlcted funds Designated funds 1,219 {14) {33) 1,172 Year ended 5 April 2023 Net Long Current term Assets creditors £'ooo £'ooo (36) Investments £'ooo 1,380 Total £'ooo 1,349 Unrestricted funds Designated funds 1,380 136) 1,349 10. Related parties J R Lane. trustee. and G Morrison, secretsry, are partners of Rollits LLP which charged the Trust £25,211 plus VAT (2023 - £21.400 plus VAn during the year for administrative and legal services. This amount is included as support costs within charitable activities expenditure. An amount of £6,420 (2023 - £6,000) 15 included wlthin creditors falling due within one year.. accrued fees. The husband of V A Denman, trustee, is a partner in Evelyn Partners which continued its appolntment as the investment portfolio managers of the trust during the year. He take5 no part in the management of the charity's investments. During the year management fees of £7,000 plus VAT (2023 £7,000 plus VAT}, were charged to the trust and are included within investment management costs. 11. Contingent liabllities At 5 April 2024. the Charity had contingent liabilities for grants payable to students in receipt of the Holbeck Charitable Trust Scholarships on them attaining their degree with grade 2: 1 or higher. The estimated value of this contingent liability is £63,000 (2023 £94.000). which has not been included within the Balance Sheet or Statement of Financial Activities. 15
The Holbeck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 (continued) 12. Comparatlve Statement of Flnanclal Artlvltles (Includlng Income and Expendlture Account) for the year ended 5 April 2023 Unrestricted funds £'ooo Desl9nated funds £'ooo 2023 £'ooo Income from: Investment income 62 62 Total Income 62 62 Expenditure on.. Investment management costs Charitable activities 146 146 Total expenditure 155 155 Net movement before other recognised gains and losses Net gainl(loss) on investments (93) {93) (132) (132) Net incomel(expenditure) (225) (225) Transfers between fvnds Net movement In funds (225} (225) Funds bought forward 1,574 1,574 Funds carrled forward 1,349 1,349 16