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 CoMmis￿On 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