Charlty Aumber: 1147629 The Hillier Trust TrusteesT Report and Flnancfial Statements For the Year Ended 30 June 2024
The Hlllier Trust ConteDts RdiY¢nc¢ atmi athnini5trthvedetsils of the T$( it5 TNstets and adviw8 Tn]stee5' r4 ltsthdent 8yditor5' rcport on th¢ finAn¢iai statements Statement of financial xtivities Balattce sheet 10 Siatment of LX8h tlows Not¢s to th¢ finaneial statemethts 12- 19
Yhe Hi]Jier Trust Refer¢n¢e and AdDthytrt1Ye Details of tht Tru54 its Trustees And Advlr8 For the Ye4r Ended 311 June 2024 Trustees Anthony Jthn Hilliff Susan Jedn Hillier Eliztheth Mary Jordan David Hillier Ckarlty reglst¢r¢d tyumb¢r 1147629 Prlnclpal offl¢¢ L(K>$¢ Court Fallnhous¢ Old Driv¢ Mwdston¢ K¢nt MEI59SE Independent •lldlto UHY Hacket Youn ChartLThI Accounthnts ThamL¥ House Roman Square Siiiingbourne Keni MEIO 4BJ BaKkers NatW¢st S¢rvic¢ C¢ntr¢ Pjrklands, D¢ H&viland Way Honvich Bolton BL6 4YU lttvestllt MaDageTS Rathbones Inv&stmtt)t Mana8>ne4Jt Office 8 Fiosbwy Circus London EC2M 7AZ Page I
The Hillier Trust Trustees, Report For the Year Ended 30 June 2024 The TrSte£S presea)t their annual rq tO8&herwith thc audiwj finall¢1 SlaTrents of thcThJst forth¢ ¢nd¢MJ 30 ]e 2024. OBJECTIVES AND ACTIVITILS P1¢1¢$ and obJtt¢lve5 The principal obicct of the TTUSt 1$ that Trnstee8 shall hold tlJ¢ ¢#pital and income of the Tru¥t Fwid ulm trust to apply the i10]n4 ad ]] or such part or part5 of ih¢ L¥pital, at such iiTt)es and in to. or for the bfflefit of, such exClusilY charitsbl¢ for th¢ publie beneh"t as ar¢ excIs1ve1ythaTil8blc ording to the laws of England amd Wyl# as theTtustets may from titn¢ to tiTne The TNgtee5 confirni that th¢y haverefured to th¢ guidan¢¢ c¢)ntaIn in the ChaTity Commission's g¥ntrnl guidan¢ on public btfit when Teviewng th¢ Trusds aims alld obi¢ctiv¢s in planniTh8 fijre a¢tiviti¢& S¢ttiT the 8r8nt Makingpoli foT the yL¥. b. Crallt nthkijbg polldes Over theyearth¢ TTU$t¢es approved BTartts toregistere41 charities arnouniing to £267,482. A fijll list of thos¢ who benefited is out in Nok 5. Th¢ fithd8 of thc Tnt can b¢ diibuttd to other organisation5 OT individuals underthe term5 of th¢Try$t deed. A significani wt of the Tnjst eXpditre to SUp)rt th¢ work of The Family Trust which is aChri¥tititi Ixynjsaiion owating ID K¢nL whoseprimary aim is to k¢lp thildmj understand that C15¢11]fy is relevant to theirdaily lives. OthtTb¢rt¢ficiarits tend to be or¥anisation8 generally with a CIJTi5tian Lth who are cwrying i)llt developm1 2nd supm WtsTk 8mon8 dadvantage0 groups. VoluDtstr& There are no voluntea5 contributing to the activiti¢5 of th¢TrL ACHIEVEMENfS AND PERFORMANCE . Key perfornllet Indi¢*tors Th¢ unrestriaed fijnds of th¢ TTU$t Are sufficient to support gEants at cutyent Icvcts for eighte¢n yws. b. ReTr ofarthrytiej Th¢results of theyw8rt s¢t out on p4e 8. A donation of £1,9(M),300 w&8 rtteived during the yeor attd income from iDv&styneniS in the year amounttyj to £50,384 (2023.. £51.917), rLyretsenling a gross rebjrn of 1.80A {2023.. 1.9Yol ort the closing vakuc of thc invesbMJt8. Gr8Thts mwje in th¢ tota]ILul £267.482 (2023.. £297,346} other exidit¢ aTnotl to £21.190 (2W23: £22,084). The m0vcmt of funds for the year was a surplus of £1.986,697 tomparEd tD a d¢fial of £180,938 in 2023. Th¢ wmulytive balanLt of £4.893,002 IS forward as an unr¢sth¢tal rcsLYv e. Fa¢tors relevant to •chitve ¢)bJ¢¢dve8 Th¢Trust h&8 sufficietlt fuDds to b¢ able to make graThts at a 5irnilar Icyd the the for¢5ttoblefithJre and thtth it doE5 no¢ ¢ffj out anyfurtd raising activities. d. IDVtstment policy #ttd p¢rfornMnte Rathlx)nes are apwintcd as inythnwt manw to the Tnrt TheyrqM)rt to the Tru5fv at r¢8uiar intervals Providing 4 fv11 listin8 of the ittvtsttnents with Iktai15 of CO current matk¢t lu¢ and estimated income. togth£¥ with statistics dctailing the fund% ]xrfonnan C&sh dq)05its ar¢ TCt8ined by Rathlx)nes as part of th¢ itLve8tmertiportfoli P&8e 2
Th¢ Hlllier Tru8t Trusteel, Report (continued) For the Year Ended 30 June 2024 FINANCIAL REVIEW •. Gtiittg wnrern Aft makttEg appropriÈt¢ ¢n4UiTi¢& th¢ TTU5tffs have a r¢a50nable expectation that ihe TtU h8s ad&1¢ r¢soiireu to c(mtinue in opcrational exisience for the fores¢eabl¢ tulurc. For this reason, thcy continue to adopt thc going cthncem bo515 sn prcparing the finnCial ststements. Furtbcrd¢t#il$ T¢rdIng the adoption of thegoing concern basis can be found in the w)uDting polici¢5. b. Rtterves polky TheTrust has no dow1nt funds or rtrIcted fund& Theunr&4thcted fi]nds of the Tn]st are av&ilobl¢to b¢distributcd undff the TDJSt Deed. . MaterlAI Invtstments pollty The inwestmet)t obj¢¢tiv¢ for th¢ porfolio i$ for A Ilance betwe capithl and ineome with A m(Jium TÉ$k tOla¢¢ which aims to genernt¢ a retyjm ovtrthe long Lryjn of 2qA aiK>v¢ th¢ rdt¢ of int]ation. PrIncIp rlskn uatertalntl The Tn¢$ consider a fall in Investmtht wa]llts to be the prirt¢ip81 risk for the Thist but there are suffieithi fup(ts IQ Tn¢¢¢ ffjticipat¢d grantg for the foreseeable future. Although thrrc arc som¢ grants wh¢rc promis of fi]ture payment have been mad4 Ihtrbe are ov¢r a iod of less than five years and ts amounts that thre not siwjificwtt ill th¢¢ont¢xt of the funds avoilable. inAttciI rl$k management iknjetdvu w)li¢lti Th¢ TnIst5 ar¢ r&4POnble for finaneRal risk M&S¢M¢nI. They nb)nitorthe inv¢stmeyit p¢rtfolio by relVillg Tegular tEpoYts from th¢ InvtMent managLT5. They also reeeive six monthly mana8ement accounts. Two truslK8 nttd approve any payTh¢nts made from the TTUSt bank o¢coutLL I. PAnc11 funding During the yw, th¢ princip81 sourcc of funding from dotkition8. Investsnaji in¢()m¢ d¢rived from thc portfolio is th¢ Truse5 main sourceirfpTincipal funding donaiion& Page 3
The Hiuitt Trust Trustee5' Report (Contilled) For the Year Ended 30 June 2024 STRUCTU GOTrTRNANCE AND MANAGEMENT cott8rftuo The Trt is constitutd undelh Trust deed dotoj 8 Jun¢ 2012 and 1$ & regist¢nul djarity 1147629. IK Methtmls of 8ppdlltment or e1¢f¢1 rfTrtt The management of thc Trust 15 thcrLpoDsibility of th¢TNstKs who are elect1 and co-optedundttthe tern of the TNsi dee . Oryan15adonal 5tructsTe deEi5iQllwThAkittg politi The Thstees conununicate regularly throughwt th¢ finartcial year in orderto eonsider grani applications and matrs r¢iating to thc ath)ini5tralion of tlK TrusL d. Polltlei adopted for the InductloD and training of TTh¥te Thoinduaioth and tixining of ote&S isde41i with during meetings and othw cornunic4tion& Related rtY re]AlloDshlp4 T[e¢S thi5e wh othcr of any T¢latLxl porty relationship$ and thes¢ are disclosed in the notoi to the financial #atLTrents. f. Flnanrlal rlsk management The Trnstees have asse58ed the major risks to whsch the Trust is expos, in particular thos¢ related to the opmtioTrs and finanLKs of the Trust. and are salisfid that syst5 4nd pro¢edur¢s aff in pla¢¢ to mitigate expostn to the major risks. PLANS FOR Fir PERIODS The TTUStee5 will continu¢tO SUPE the Obj1v&s of thc Tmst for the foresecablc fvturc. The unlistal inVest£tS the Trust receivcd as a donation during the ytsr wu¢ 801d yeaT ¢nd the sale proceat8 haw be invtstd in th¢ 11$t inv¢8thJ•t I0110. Statem¢ttt of Trustts' responsibllltitl Th¢ Trnst¢¢S 8r¢ r¢sponThk fOrpr¢p1& the Trusteu. report and the fin8jaI sWEffl¢nts in a¢¢otdsth¢e with opplicable law and United Kirt8thm Accountin8 Standard8 (lJnited Kingdom G¢nLYa]ty Acirytal Au1]n8 Prncticel. The law applicable to charitie8 in Ettg1at & Wales Tequirts thtTrusw to prqw¢ finan¢i81 StyiaD¢nt8 for each financia] wthi¢h 8 tnle and fair view of the state of affairs of th¢ Trust and of its incomin8 Tesourtes and application of resourc including ils in(y)m¢ and expd)Ir¢ for pui(Mi. Jn prcparing these financial a¥tLYJ]¥Jts, the Trusts thErequirnJ to.. seleu suitable a¢countirJg wli¢ics and thcn apply than C4)nsiStt]Y obsctvr Ihc methods and prin¢ipks of th¢ Chariti¢4 SOIiP {FRS 1021; make judgmeTrts w)d accounting cs*imat<5 thai are reason&hle and prndu)r, stat¢ whethcr applicable UK A¢¢wntittg Standards IFRS 102) have b) followcd. subject to any m&trriai di105 atsd explaind in the finantial ststQnLts. preparc thc fit)atKial statemajts on the going con(n basi8 it is itwwpri8t¢ to prwm¢ that th¢ Ttust wryll eontinue in 8]nts$ Pa8e4
The Hlllier Tru8t Trufjtees, Report (continued) For the Yer Ended 30 Jlllle 2Q24 Ststement of Trustees. reSp11b1]It1eS {¢•tt¢lDMed) Th¢ Truslccs arc responsible for keeping PTOPCT accounting records that are suifJcieJJt 10 show and ryilain the TTUSt'$ tranSOn5 and dis¢los¢ with reason¥ble aLCLtr8Cy ¥t 8ny titn¢ the fin(La1 position of th¢ Trum and £mable them t() L))$ure that th¢ financial statLTnfflts comply wth ihc Charitits Aet 2011, the Charity (Accounts and Rwffs) R¢gvlations 2U08 and thr provisions of theTrnst d¢¢d. Th¢y ar¢ also TtsPOIb5ibl¢ for safegu8rdinK the asw$ of the TnJs¢ ond ha)¢e for tsking reasonable steps for the prev¢ntion and dct¢ction of fraud an<l Oth irr¢gularitLCS. Dl8¢lo$ure Of Inf0rDtion to Audlt•rJ E4th of th¢ p¢rsons who are Truses at the time when thisTTUSte£s' ryrt is approved ha5 ¢onfirnied that.. faras thai Trns*eis aw&rt, there is no re]evantaudit information of which the charity's auditots aT¢uuawBr4 that Trustec all Ihc steps that ought to have tskert TTu#ec in order to be awarc of any 1¢y•t audit information and to thblish that Ihc charitys auditOTS are 8ware of that lf0mlatIOn. Audltors The allditors, UHY Ha¢ker Young. hav¢ indicaied their willingness to ¢ontinu¢ in otiir¢. Th¢ d¢5ignat¢d TTUSte¢s wll propose a motiott r&1p)I1)Us the auditors * aTh¢¢ting of th¢ Trustee& Approved b bS of the boaTd of Tnks1¢ and signed on Iheirbehalf ty. Anthony John Hllller Date.. 14 March 2025 Pa8¢ 5
Th¢ Hillier Trust Jnd¢pendeKt Audlton, Report to the Men)bers of The Hllller Trust Oplnlo W¢ have auditd the firt&rtciat statcments of The Hillier Trust (the 'charityy ftr th¢ ye4r ended 30 June 2024 which eompTi$¢ th Statcm¢nt of financia] a¢tivities. the Balance sh¥¢t, the Statem1 of cash flows and thL rtlated no including a summary of Si)1fiCfftt accounting PDlicies. Thc financial TqM>rting framcwork that has b¢th appli in their prq>aratLOII LS app1]bI¢ low and Uniied Kingth)m AoUnting Standards. including Fin8nfyll#l Reporting SLgndard 102 The Financial ReEthing Standard appli<able in the UK And R¢publi¢ of Ireland, (United Kingdom Generally Ac4XPtd AccountllJ8 Practice). The fitlancial sratcmfflts havt be¢n pr¢pard in ac¢ordvJJc# Aecounting atwj RwtiDB by ChaTitits preparing their aounts tt) a¢¢ordance with the Fin141 RyrtiJ]g Statldards applicable in the UK and Rwbli¢ of Ircland (FRS 102) ITh pr¢fm¢e to the Ar£outtting and Rworting by Charities.. St81cmcnt of R0Mmd Practice issued on l April 2005 thich is r¢faTd to in the extant gulations buthas withdr&wn. This h83 becn don¢ in for the accounts ÉO Ptovide a ttuc and fair vi¢w 4¢¢ordat)ce with the cllY A¢cept&4 Accowlting Practic¢ &T#tiv¢ for rerring pl0d$begInTIIS Ort orafttt l January 2015. In our opinion thc financial statuncnt5.' give a true and fair view of the state of th¢ ¢hwitgs affairs a5 at 30 Jwi¢ 2024 and of ils incoming rc50ur(w and AppliLon of for theyear then ended. have been propeAy prepared in a¢¢ordsnce with United Kingdom C)eraily Acccrrtcd Accounting Prn¢ti¢< and havebeen prare in x¢ordance with thc rtqutrcmots of the Charriiies kn 2011. Bfisls for oplnloD We £Y>nducted OUT audii in accordance with Inttional Standards on Auditing (UK) IISAS IUKII ¥nd appli¢thle law. Our responsibililics th05¢ Standards are fiJrth¢r dG5¢ribtyl in the Auditors, re8P0115ibiliti¢$ for the audht of th¢ fmottcial statemcnts se£iion of our rvport. W¢ are 1ndwendr of the chAriry in acLordan¢¢ with the ethical r4uirLYnents that r¢levant to our audit of th¢ financial $18teJTJents in the Uniied Kingdom, inGluding the Financial R¢porting Cowicil'8 Ethical and w¢ have fulfilled our othcr ehii¥l raponsibilities in aceordan¢¢ with thwwuirements. W¢ believe that the audit ewida¢w¢ havr obtaitl is suffi¢ifflt and appropriate to provide a Tr16 forour opinion. CoDdu$loJ)s relatlng to golDg colleern In auditing the financial stht¢rrwiw have ci)ncluded that the Trustees, usc of the going ¢(¢n Iw.% of a¢counÈing in th¢ PT¢P8rnti0 of the finanCia]5rat¢mt5 is appr¢)rrrigte. BAsal on the WOTk w¢ haV¢pthTll, we have not id¢ntified athy material uncal8intie5 relatin8 to cvcjjts or conditions thaL indiwdually or ColltiVely$ Tnay cast Si8nific4nt doubt on the chaTity$ 8bility to continue a5 a going ¢ott¢¢rn for a period of at I¥¢ twelve nnthS from whffl the fjTthll¢io18tlltemts are authoriseil for i¥¥u¢. Our T¢SFthsibilitie8 attd the r¢sponthl>iliti¢5 of th¢ TnJstCC8 with Tped to going toncern arg dwibed in th¢ rel¢vant s110175 of this Other InfortIon Th¢ other infonnation LM)mpri5¢S the inftsrmation inChC in th¢ Annual report other than th¢ finJn¢i81 Si8tLYnlS and our Auditl)T5' rwrt thern. The Trustecs are won$ible for the oth¢T inforttrnti(yn contained rythin the Annual rep)rt. Our opinion OD th¢ fitbi¢11 statettjcnts does not LX)ver th¢ othtt irtfomation and, cxt%pt to the eKtent othLYWJ explicitly st4td itt our we do not ¢xprtSS IY forni of &8surancc conclusioTL thmm. Ollr responsibility is to read the other iThfornution al, itl dvin8 $0. con5id¢r whether the rhLY InfLallOn is m8t¢rially inc(555t¢t with th¢ finan¢iAI ststemct)ts or our knowledg¢ tsbthined in Ihc LX)urse of the audit, or otherwise ap]ar3 to b¢ mat¢Tially misstatelt If wc identify su¢h mKLteria] incollsi51etLCiPi or Jppor•Ji material mi$statemts, we rcquired to deThIn¢ whdh¢r this ¥iv¢s risy to a malrriai tni551ateJnthi tt) th¢ financial statemttts themselvcs. It., ba5d the work we ha perfornK& we ¢onelude that there 18 a mat¢rial mi&8wonent of this other infomwtion, we atr requird to rqx)rt that tst. We ha nothin¥ to rqM)M in this regard. Pag¢6
The Hlllier Trust Independent Audltors, R¢port to the Membv8 of The HIUler Trust (¢oitlnu¢d) MatteTS whIth we are required to report by txteWknD We huve nothith8 10 re1 in resp1 of the followinK rnatt where the Charities (Accounts 8ttd Rep)rts} Reglllations 2008 ra]uires us to re[ to you if. in our opinion.. the infthmititi(>n giv¢n in the Tnjsteeg, rqJ(t is incnnsisteiit in ony ¥nAtrriMI rtgp¢¢t th¢finaD¢ial $lat#ng1ts' or suffi¢iaxt attountittg rS havettot been kept.. or the flnancial staiejnents are t)ot in agrMlL wth the cOUnting r8 and r¢wms' or we h&ve not re1] all the lnfom]ati7 and explanations wewuirefor our audiL Responilbllltks of trn5tee¥ As explained morc fully in the TTh5tea8' TY>D51b11ItIeS stat¢menL thc Trustccs arc rcsponsiblc for thc prcparatiim of the financial aleM¢S w4Jich give a t¢ and fair view, and for such inl¢rnal coThlrol a5 ihe Trust deterniine is io enable the prqwauon of financial Ststcmts that arc fr¢c frDm matcrial mi55tat¢mthL wh¢tU¢ to fraud oraror. In pryring the fuLanLial th¢ TTusli%¥ rpOn¥]ble for a5551g the charitys ability to coniinue as a going ¢otL¢¢rn, di10$1g. as &FTlicabl¢, m4tteTS Telated to going conrtrn and usipg the going basis of accounting unle55 the Trust cither illt¢nd to li4uidat¢ the th¥Tity ¢)rtsi vpwgtivn¥ VT hv¢ r¢ali¥ti¢ 41tnatIV¢bUt to do so. Auditors, r¢spM¥ibllltles for th¢ #udlt Of th¢ fioon¢i•l stst¢rn¢4bts W¢ hav¢ Iw) apTt &$ auditor s¢£tion 144 of th¢ Charities Aa 2011 and r¢port in o¢¢ord4rt¢¢ th¢ A¢t ond T¢l¢vont gulwionsm?tk or havin¥ thrn[a. Our Dbjectivtts are to obtain regsonable aSSUrnThte about whether the financial st&tttrtents Ss tt whole Are frtt fro]n mtittti&l misgt&t¢tntht, whether dlle to frdud or error, allil to Audittrrs, reyort that Iti¢1 out opinion. Reasonable assurance is a high level of aSmTbn¢4 but is not a gbATaniee that an audit condutied in accordartce ISAS (UK} will always detect a mthrial misstat•Thent wh¢n it exists. Misstatements can 8¢ from frdud or error and are c4)nSIder material 1£ individually or in the a88re8e, they ll1d rt&sonably beexpted to influcn¢e the eco))omic decisions of usus laken on ihe basis ofthese finaneial statements. Irregulariiie& including frau& are in5tan(%8 of non-compliance wth laws and regulaiions. We design prthres in line with our rcsponsibilities. outlined abov& to del1 material misslalvn¢ntS 111 peLl of iTregularilie% iTrcludin8 fraud. The eXtt to which our proctdures are capable of deMing I¢gUIritICS, in¢luding fraud is detailed below.. How rhe audii was cold¢VEd ¢ap¢Tble ¢lk ddecting irreguthrigies, inc&th"ngfr4wd OUT aP]Mx)ath tri id¢ntifyng ortd &$8essiJJg the risks of material misststanent in of irregularitics, ith¢lllding fTud Ènd Thon- ¢y)P]in with laws and regU1lOnS, was as follows.. wc identiliul thc laws and rcgulalions applieable to the chariry thrw8h disclon$ with Mana8eMLl and from otsr Commla] knowlLxJ8e and experience in the slor. wc fused on specific law5 and regulaiioThs which weconsithred mayhave a dIrt marerial cftect on The accounts or the OatiOnS of the charity, including the Charities Aa 2011. w¢ assessed the exttnl of Wmpli with th¢ laws 4nd r¢8ulation5 id¢nfLfi¢d atA)v¢ through making cnquiri¢s of managenKnt and insrttting corr¢spond¢nffj id¥ntifi¢d laws and r¢gulalivD$ WtT¢ Uniallxl within th¢ audit tkWD and th¥tVWnranaiJ) ¥l¢rt to sta5 of -¢IKnplionce throughtsllt the audit. We as$ed the swtibility of thc charitys accounts to matcrial misstatemujt, includin8 obtainin8 an undwstandin8 of how fraud mighi oww, by: making enquiries of manaB¢meTht as to where th considered there was susceptibility to fraud. the2r knowledge of actual, swectd and alleged frau. and considering the intcnial controls in place to mitigate risks of fraud and nunrfornplian with laws and regulati& To addre55 the risk of fraud through ]nAna¥¢t bias and OVWTid¢ of ty)ntrvls, w¢.. p¢rforTnd anal)rtiral pro¢4lures to identify tsny urtusual or Unex1 r¢ltition%hips,' twtul jour5)al ¢ntii<% to id¢ntify unusu81 transa¢tio]ts' aS%esS wh&her judgemenL4 and a8sumpii4)ns made in dLxcminin8 the I¢untin8 o$iimates sei ihe accounting 11¢1&$ wcrc indicativc of potolual biag., investigaiegl the rdlional¢ behilld $ignificaDt orunusual transacti5. Pagc 7
Tbe Hillier Trust Indepeudent Auditors, Report to the Members of Tbe Ilillier Trust {eontiuued) kn rviwnse to the risk of iryegularitias gnd non1)MPlIanC¢ with law5 rwlations, w¢ desist1 procedures which includgj. wtre ot limitLuJ .. agre¢iTJg finan¢iaJ 51atunwt di5d05urcs to supwrting thxumenthtson. rewjing minutes of rne¢tings of thosc that8 with govLUn¢¢. attd ¢nquiring of as to acmal and poiential liiiwion and clairns. A fiIrfh thsrriptioD rf oyr rc6p)nsibilitie8 tor the audit of the fiftanciaj statrmthts is locAtd ot) thc Finathcia] RqIll8 Cncl],S w¢bsit¢ It.. WMryV.fir.o uklaudirorsres nsibilities. Thi5 deiptIon pth of vur Audi, rq)o Other m•tters In thc ycar to 30 Junc 2023 the ¢htabl¢ eomp4Lny WÈS not subject to audit und the CThatities Ad 2011. Th¢ r¢8uIts disclosed in finallJ¢ial strdt¢rtKnt5 th¢rfoT¥ prted unaudit&J. Useof report This rwLTrrt is m&d¢ ]elY to the eharitys truMees. as a bLwty. itl acwrdaThc¢ tkn Part 4 of th¢ ChaTitiu (Actounts and Reports) Regulation5 2008. audit WO has undertaken .w that we might stat¢ t() the chArityB tnLStces those mattLYS wc ort requircJ] to %t&te io in an Auditors, report and for no otha pu[Fx>. To th¢ fvll¢si ¢xt•Ji pemiiited by law, we do accept or as5UTll¢ respotiSLThility to anyone othw than the charity and its trust(%4 a i, foT our Judit WOtK for this rep)rL or for th¢ opinion5 we hav¢ fom)ed. UHW CLAL UHY Hacker YU1 Chartered AccLkuntants" ThamL7 House Sittingknurn¢ ME104BJ 19 Mi)rch 2025 UHY Ha(&tt Young ar¢ di8ibl¢ w a¢t a8 auditor8 in te4yns of section 1212 of thecompanies Arf 20(kS. Page 8
Tbe Hiuier Trust Statement of Ilnanelal aetivities For the Year Ended 30 June 2024 Unrestricted funds 2024 Total funds 2024 Tolal fvnds 21123 Note IDcume frorn: Dtynalions athd le88¢iL Invests))ent8 1.900,360 50J84 1,900,360 50.384 5J,gJ7 Trtal iDcome 1,950,744 1,950.744 51.917 Expendltllre oll: InV¢stmt Tnanag¢mct cost5 Ch8ritable drtivities J7,170 275.755 17,170 275,755 17.539 301,891 T•tal expeDditur¢ 292,925 292.925 319,430 Trlet Intomellexpenditure) before Iiet K•ltt8 Invuememts Net 8ains on ittvestmojts 1,657,819 328,879 I,t557,819 328,879 Q67,513) 86.575 Net movement in fumds 1.986.698 1,986,698 (J80,938J Re£ontili&tion of fullds: Tot fundsbrought forward Net movemerkt in funds 2,906.305 1.980.698 2.906,305 1,98h,698 3,087.243 (J80,Y38J T(*41 [n$ rrIed fonvard 4.893.003 4.893.IX)3 2.906.305 Th¢ Statcmfflt of Financial Activitie5 includes all 1$ and10s$¢5 r¢cognisry] in the yw. The nows on pag¢s 12 to 19 forni part of these fmallcial St&t¢nts. Page 9
The Hillier Trn8t Balance Sheet AS al 30 Julle 2024 2024 2023 Flxed assets Instma) 2,878,709 2,793,t58J Currat asset D¢i*ors 10 1,900,360 125,878 Cash at batlk in hand 120.2JO 2.026,238 120.2JO Creditors: amouthts falling due within one year 111,9441 17,586) ¢urreDt assets 2,014,294 112,624 TotAI net a55ets 4.893.IK)3 2,900.305 Clwity fuDI15 Utlrtstricttd fijnds 13 4.893.OQ3 2.906.305 Totsl funds 13 4.893.003 2.906.3Q5 Th¢ finan¢id $tat¢ments wereapproved aDd auth(Ki5ed for i$9ue by th¢Tnttt$ qnd si8nd on their behalf by. ADtbony Johh Hfllfer Dat&14 March 2025 The notes on p&g¢s 12 to 19 fonnpart of fin3nGial statements. Pag¢ 10
The Hilller Trust Stitement of Cash Flow$ For the Year Ended 30 June 2024 ID24 2023 Note C4sh flowi from op¢ratlDg adlvitles 15 1288,568) (319.701) Cosh flowB from ljkvtstlng #¢tivitie5 Dividcnd& interasts and from inv¢s¢mthtS Fr(eI$ from sal¢ of inv¢btm¢nts Purchase of inve8tm&t$ 50.385 667.)3 1419.705) 51.917 284.918 (38,044) Net ¢•5b pr¢Jvidul by IlnaTrtlng 8¢t1tI 298,583 298,191 Chn8e lth csh Dd tasb equlv2lents In tb¢ yelr 50,015 {215701 Clsh and L&sh e4uivRl¢nts at th¢ b¢ginning of the y 127.874 J49,444 Cwh #ttd cash equiwakmts at the end of the year 16 137,889 J27,874 The notes on page5 12 th 19 forni part of the finan¢ial slat)1$ Pagell
The Hillier Trust Notes to ¢h¢ Financial Statements For the Year Ended 30 June 2024 1.1 Ba5 of preparatlon of nnauelal $t4¢¢nwits Thc financial statcm¢nts hav¢ bc¢n prtPSTth in Aee4xd8nee with the a)ariti£% SORP IFRS 102) - Arrounting Reponing by CharitL¢S.' Statement of Recorn]neJ]dcd Pttl¢¢ applicable to charities preparing their wcounts in at¢ordaThce with ihc Financial Rcwrting Stthdllrd applicable in the UK and Rcpublic of Ircland (FRS 102) {¢ff¢rtiv¢ l )aDUary 20191, the Fi]wJciul R¢pvrtin¥ StaDdard appliublr in the UK and Rq)ublic of Ireland IFRS 1021 and theajarities Act 2011. Th¢ ffirn¢l sLiteMts have I) prqmrS to give a Irue aDd fllie vi6w and have fmm th¢ Charities (Aceouttts ynd RwoTtsI Regulations 2W8 onY io the extent requird to prode a faiP view. This dryrtre has involved following tht ChaTiti¢S SORP {FRS 102) published in O¢tobtr 2019 rothtr than the Accounting and RqN)rting by Charities: Statement of Recommended Plxticc dT¢rtiv¢ fr1 l April 23 wht¢h since been Mihdrdwn. The Hillier Tnjst meets the d¢finitii>n of a wblir ba)¢fit qjlity uud¢r FRS 102. A&ts and liabiliti&s are initially rca)gni8ed athistoricaj cost ortransll¢tion volw Unle othffjvise stated in the tElevallt accounting wlicy. 1.2 Golng concerJL The tTUSte4s ha asSedethtrthc use of going L¥TrllcÉaD is applate i.e. wlKthef thcre are any Tha¢14] uDc¢rt8inti t¢lat¢d to ¢vats or rondilions thai may ¢t Si8nifie4nt doubt on th¢ ability of the tnJst to continue a goiTJg concern. Thc trnst¢C5 mak¢ this ass31)¢ in Ytwi of a pwiod of 8t least oneyear from the date of allthtiritI0rt for issue of th¢ finanti8] stmo1ts. Th¢ 0vlS hav¢ prepar under the g(Mng con¢em l)asis th¢ tru$t has a stlficall1 level of resuve5 which c continue to support the tmsi forthc foreseeabl¢ futur IJ Income All income is recognisvj once ihe Trust has entstlemenl to the iiicome, it is pJY)bablc that the incom¢ will be received and the amount of Incon reccivable c4n b¢ mcasurul reli8bly. IA Expend(tur Exp¢nditur¢ is rgnISed On thw¢ i$ a legal or constrnaiye obligation ro traTh5fer economic b¢n¢fit to a third pty, it 1$ prolble that a tranrf¢T of *Yin(Kni¢ bo)efiis WAII be rquired in satleml and the amount of the obligatioll caD bE reliably. ExpdItUre is classificd by activity. Thc costs of 4r¢ m&d¢ up of the totAI of direct COSL8
Trd Shar LOSt4 in¢luding support costs involved in undertoking rdctl activity. Dir¢ cos15 8tthbutabl¢ to a single activity
are allocala] directly tD that activity. Shared costs which ¢ontribvt¢ to mor¢ thon one trtd support costs wthich are ot attributthle 10 a single activity ap[loned b&We thos¢ activiti% (K] 8 ba$i$ eonsisieni with the use of resour& Central staff costs are allocated on the basis of time sp2nt, and dcpitciation charges alloc8ted on the portion of the 5¢t,$ Expenditure on raising fid$ irL¢lud¢5 all ¢KIKdItu[¢ incu1 by th¢ Tnt to raise funds for its charitable pF5 Rnd includes costs of all fuTrdraisiDg artivities events artd non-tharitable tradin& Expenditure OTh chaTitabl¢ tivIti$ is 00 direaly undertsking the xlitieS thich furth th¢ TTUSt'$ obJ¢]v &$ well as w)y as5QCiatd support CQ5 All ¢xpthdiWr¢ 1$ in¢lu$ive of ]r0Vable VAT. l.S Inves¢tn¢rtt$ Fixed asset invtsttnents are a forn) of fil)Cial instrnm¢nt and initially r¢¢ogniwJ at their ttw)saclion cost and subsequently me&sured ai fair value at the Balance 5he¢t dat¢. wil455 th¢ v0]ue cannot be rne%ured reliably in whieh case il is uled at Cost impalml. Inv¢thr gain$ 8rtd loss(s. whrther wlil or wy¢8]iSl. are o)Jnbined and presented as.Gain(LO5seS) on inveslm¢nl5' in thc StatqTr¢nt of financial actiwties. P8g¢ 12
The Hillier Trust Notes to the Flnaneial Statement5 the Year Ended 30 June 2024 Accountlng wmeles (contlnued) 1.6 Dtbt4)rJ Trdd¢ and othLT d¢btor¥ ar¢ recognised at the settlement amount after atly trade dis¢wnt offw¢d. Prepa)ryneThts are valued at the amollnt prwid net of any trade discounts due. 1.7 FID•n¢ial bn$trumeDts The Trust only has fkn8nci81 a55Cts and financial liabilitifs of a kirtd thot qualify as basic financial instrumthts. Basi financial inStrumlS are initially recognisul al ttansaLtion valu¢ aud sub¥¢qu¢ntly rn¢asuroJ at their settl&ntt)t value with tht eXcli0n of bank loans whith Jr¢ $ubs¢qvt1Y rneawr&l atOTtM)rtised w5tusing theefftIve inter&st mL#h(KJ. I Fund Jteoulltlng General fijnds are unrestricted fund8 whith are available for uf at the discretion of th¢ ThJ$1¢¢8 in fvrtherance of the generdl obieclives of th¢ Trwst and wllith have rLOt been designated for othcr pUrye Invtstment income, 8airts Èrtd losw allocatd to the appropriatc Inwn¢ doDAtloDi leg#ties Unrestrlrted fundB 2D24 Tot•1 futhd$ 2024 Toi&l fynds 2023 Donations ,900,36a 1,g)oJ( Investment iDt•m¢ UnreatrJrt¢d Dds 2024 Tot•1 fuDds 2024 fvnd3 2023 Incomefrom IisEJ Investhts 50.384 50.384 51,917 Toto12023 51,9J7 51,917 Pag¢ 13
Tbe Hllller Trust otes to the FiDancial Ststement5 For the Year Ended 30 June 2024 Inwesttneni DTrAllageDWIt co Total fllDds 2024 Tolal fvnds 2Q23 funds 2024 Investmen¢ ]w)agemeni fees 17,170 17,170 17,539 Tolu12023 17.539 17.539 AD8lys15 of txpeDdltsre by thities Total funds 2024 Toiél Grants p4ld Support ¢osts 2024 2024 2023 aritable adiwties 267,482 8,273 27S,755 301,891 Tolo12023 297.346 4.545 301,891 AD•ly8Rs of Jupport Tots] Activitie% fvnds 2023 1024 2024 Acc4)unting fee5 B8nk tharg Indepthdent vkaminauon fees AuditOTS' Tonuneration 2,732 21 2.732 21 3.234 1.273 5,520 5.520 8,273 8.273 4,545 Toiol 2023 4,545 4,545 Pag¢ 14
The Humer Trnst Note8 to the Firtanci81 Staternents For the Year Ended 311 June 2024 Anlysls rfgrgxts paN1 iti tbe year Ur¢Stricted fluds 2(124 Toial fuDd5 2024 Toiol fvnds 2023 A¥¢ UK Amos Trust 1.500 8.(H)O 4,(K)O 5.(K>O 1.500 BChY Hcad thaplaincy Bril School Brosdale Q>lltttions Ce]ebration Chyrth Christian CA)ncffl? CoDgo Action CrfFssline Lli8nity Freed0MNeNo UK EmbrkKe the Middl¢ Ea51 EvatLg¢lical Alliance Hivc InrnaiioTha] Ne• 10.000 5.(M)O io,(K>o 2,000 1,500 10.000 10,(M)o 1.500 iO.(MK Jo,000 05,QOO 1.846 iu,(Kpo 1,846 io,noo 36,636 4.000 iO.(KK) 36,636 MGGS Ikvelopmot TTU5t Nova Grace Saf¢ ArLatsth¢sia Worldwide Salvation Army Shakesr*are UnBard The CyLle IINGOI The BinnillghattL City Mission Th¢ Family Trust 4.O¢MJ 1,500 1,0 4,0(K) 2J 155.( J.51PO I,U(K> 4.0(K> 25(K) 155.000 165.000 TotAI 2024 267,482 267.482 297.340 Audll4)rs' r¢m¥n¢rith 2024 2023 Fw payable tD the Tru5es auditor for th¢ audit of the Tnt'S arllJua] accouDts PepaYable to the Tnjstrs auditor in resp1 tsf.. All non-audit s¥vi4w nvt in6lUd abov 5,520 2,732 4.507 Page 15
The HillSer Trust Notes to the FIDnclal Statements For the Year Ended 30 June 2024 Trtel. reElluDeTatlon and expmses During the year, noThi&¢csrtteived any rffl?uneratiiJn pr othff benefits {2023- £NIL). During they¢8r 30 June 2024, 00 TNstee vApeD%5 hav¢ b¥cn inwrrul {2023_ £NJL). Fixed ¢1 Inv¢Mm¢xts Cask beld by PDrtfolio mallog¢r Llsted IDveMments At l July 2023 Addilions DisK*)sals Rev8luations 2,786,017 419,705 (667.903) 328.878 7,664 716,243 1436,8951 2,793,681 l.135,948 11,104.798) 328,878 {275,000) TTansf¢¥5 b¥LW¢4J t]4 (275.¢} At 30 June 2024 2,866,697 12,012 2.8711.709 The book cost of list inv¢Stmt5 held by theTYust &8 at 30 June 21724 totalle4J £1,775,9211 {2023.' £1,917.023). The wtfolio contains the followiJJ8 inv£51metLts.' 2024 2023 Jxed Intertst 186,846 288.696 lJ28.999 671,952 390,205 234.980 37P,Ot54 J,149,998 509.258 452,717 7.064 lis UK quiiies Listd Int[tional equities Bothdx Gilts Tcnn dwits and o15h 2.878.709 2. 793.081 io. Debtors 2024 2023 De on• ymr A£(zu1 in¢ome 1.91M)J60 Page 16
The Hllller Trnst Iyotes to the Finaneial Staternent8 For the Year £nded 30 June 2D24 ii. Credltorj: Amoullts fllllng dDewithin thie year 2024 2U23 Aeeruals and dEferred income 7.J86 12. Fkngn¢tsl ID$trym¢llt$ 2024 2fP23 Finatt¢ial #ssets m¢8sured ot fait va]u¢ through illfQTn¢ penditUre 3,004.586 2.9J3,89J FinaoGial a5s¢ts mr45ured 4t fair value through incon and pendItuTe conwi5e of ILSted invfstmcnt5, includin8 c&sh held by th¢ wkrtfolio monagtr behalf of theTru5t. and othu cash balaft. 13. St8tementof fundB S¢•t¢DRnt of fullds- eurrellt year Bglance at I July 2023 Galth Balantr xt 30 (Lse$) JU¢ 2&24 Income Eipendlthre Unreitritted funds G¢neral Funds 2.906,305 1,950,744 (292,925) 328,879 4,893.003 Sta*m¢Dt of prlor y¢ir Bolonce <Jl l July 2022 Incopne E¥pendithre (Lo&vu) 30June 2023 Unrestrfcted fllnds Ger1 Fllnds 3,087,243 51.917 (319,430) 8a575 2,906,305 Page17
The Hllller Trn&t Tr4otes to the Financial Ststements For the Year Ended 3D June 2024 AD8lyits of aKet5 between fulhds AnglysS5 of net asseti between fund5- ¢urr¢rtt wlod Unrestrkted funds 2024 Total fyDds 2024 FiKe41 a55¢t InVtmts 2.87&7IW 2,02fj238 (11,944) 2.878,709 2,026,238 111,944) C]111% duewiihin one PT Total 4.893.3 4.893,5 Abilysl$ of n¢t As8ets between htyd$- prlor perkn1 Unwlricied Tothl fvAds 2023 2(P23 Fi%ed &%set invistments 2.793,681 J20,2JO 17,586) 2.793.681 120.2JO (7,586) Curmt &seis CtsJitor5 du¢ within on¢ y¢4r Tothl 2.900,305 2.900,305 15. R¢¢on¢lll•tlon rfnet movement in fundi tts Att ¢asb Il•w from oper8tlng itllvltles 2024 2023 Net 1ncomtlexdl¢u1e for the period las of Fimn¢ial ALiviliesl ,986.698 (J80,938) Adjwtmethts for: Gain8 on iThv¢strn¢nts Dividids. inlerfsts and Tenls from iNve5tTrts DetreAscllinwea9e) in debti)rs Irhmsdld¢¢reése) in CJEditors {328.879) {50.384) 11,900,360) 4,357 (86.575J (51,917) (33J) Net casb Md ltt op¢r4¢b)g 4etlvltlos (288,5681 (319. 761) Poge18
The HIUler Trnst Notes to the Fin#neial St#tetnents For the Year EDded 30 Jwie 2024 Analysts of tash and ush equ£vellts 2124 2023 C&sh in hand 125,878 120.210 Cash held by investtnLlJt managiys Total ¢•sh and (ash ¢qUIveS 137,889 127,874 17. ADalysls rf¢bADges In D¢¢ de At J(1 June 2124 At J Jwly 2023 C¥b tlows Cash at bank and in hand 120.210 5.6611 4,347 80,680 125,878 iioi i 2,866,697 Cash hdd by inv¢sttnerbtmanag Liquid investments 2,786,017 2.913.891 90.695 3.004J86 18. R¢l•ted party tMnsa¢tlokns DuTÉn¥ th¥ yEar, th¢ TTu¥I mad¢ th4Titsbl¢ gjwnts 11)tsllin¥ £155,0(K) (2023.. £165,000) tv Th¢ FallY TTUSL A J Hillier s¢YvvJ as a TTUSt¢ (>f The Fomily Trust thrtsughout the finan¢Tal year. At theyw end therewere no l*l&nces rnitstonding with theThisl. During theyear. the Trnst made charitable grants totilling LNÉI {2023.. £10.(M)O) tts Brogdale Colltttions. A J Hilli¢r servd as a Tru$ of Bro8dal¢ C<ill¢x¢iotts yntil 6 F¢bTuary 2023. At th¢ yo thtt¢ w¢re no bsl8Nces outs¢ondin8 with th¢ TTU4. Duting th¢ye8r, Truste m8de donAtions to tb¢ TtU$¢ vf £1.9,300 (2023.. £nil). Page 19