REGISTERED COMPANY NUMBER.. 08269877 (England and Walos) REGISTERED CHARITY NUMBER.. 1150524 ILLIAM ROWAN HAMILTON TRUST REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Mercer Lewin Ltd Chartered Accountants and Registered Auditors 6-7 Citibase New BalaY House 234 Botley Road Oxford OX2 OHP
WILLIAM ROWAN HAMILTON TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Page Report of the Tru$t89S Report of tho Indgpgndent Audltors Statement of Financial Activities 8alanca Sheet 10 Cash Flow Statemgnt 11 Notss to the Financial Statom&nts 12 to 19
WILLIAM ROWAN HAMILTON TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 Th& trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statoments of the charity for the year ended 31 October 2023. The trustees have adoptèd the provisions of Accounting and Reporting by Charities. Statement of Recommended Practice appltcable to charrties preparing their accounts in ordanCe with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} (effective 1 January 20191. OBJECTIVES AND ACTIVITIES We have referred lo the points contained in the Chartty Cofflmission'$ general guidance on public benefit when reviewing our aims and objectives and in planning our future aclNities. The Trusys SerViS prowded have been principally in supPt of raising the educational attainment of children up to age eleven within the UK and lo support the effeetiveness and professional job satisfaction land hence also retenlionl of primary teachers. However. the year has been one of transition, as described below, and the Trust 1$ now focused on supporbng other oharitsble organisations, particularly in the fields of education and Early Years. A YEAR OF TFiANSITION Transfer of Hamilton D rations lo Oxford Brookes Universi As reported last year, all the Trust's operations and all the Trust's assets {save only its cash. ils investment portfolio and its office propety) were transferred to Oxford Brookes University IOBUI in D8¢ember 2022. This was done so that access lo the Trust's substantial body of materials (around 26,000 resources available to primary teachers from its website) could be sustained into the medium terni and beyond. Oxford Brookes was the first choice of Iruslees a$ the 'new home, for Hamilton for several reasons.. the University has a strong pUtatton for ils degree, PGCE and Masters courses in primary education", there have been strong links al several drfferent levels beeen the Trust and thè Unwersity over many years-, and 08U's Oxford k)¢ality mad8 Iraison easy and offered the opportunity for the Trusvs staff lo be easily transferred lo the UnThiersity. As the lègal agreement - and the transfer of Hamilton stsff lo OBU - took place on 19th December 2022. only seven weeks into the 2022123 financial year, this report necessarily mainly covers the rernainder of the year post transfer. Website chan es and develo ment Work continued on the writing and publication of mixed-age English plans, maths assessments and Topics but the main website developments were changes by Oxford Brookes lo reflect the new ownership of the site by Oxford Brookes. These were not finalised until 31 sl August 2023 as many steps had to be taken first.. the specification and then appointment and stsrt of a new manager for the operation., decisions about brand, Strategy and pricing.. and then iMpentIng those Changes. The new team decided that the resour5 would be made available under the heading 'Hamillon Brookes,, a name combining the Hamilton Trust background (which the tens of thousands of users ass¢xiale with these resources) with that of Oxford Brookes UniveTsity. To maximise continuity, the transfer agreement itself had included the URL wbyw.hamillon-Irust.org.uk 50 as lo minirnise the barriers for teachers from the changa of ownership. An interre num In the first seven weeks of the year. The Trust was able to continue with its agreement with Hamllton Education Limited, a 'non-profit-making' company limited by guarantee and independent of the Trust, whereby the company distributed many of the materials developed by the Trust and then pays a royalty lo the Trust. The main distribution mechanism was through Hamilton Education's sale of School Subscriptions, whereby all of a school's teachers and leaching assistants gain access lo all the materials and resources on the Trust's website. hlIe many of Ihg resources were avai5able to any user accessing the sile, individual teachers were able lo make a donation to the Twsl lo gain access to all the materials that they might need.
WILLIAM ROWAN HAMILTON TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 From 19th December2022 onwards, until 31 st August 2023. there was an intarrègnum.. the resources and website were owned by Oxford Brookes bul - because the new Hamilton Brookes website was not yet ready for new subscriptions lo be offerod by Oxford Brookes lo schools and teaehers the pre-December subscription arrangements had lo continue. During this period, the Trust collected moneys on behalf of the Universty and each month paid the University for the seNices the latter provided, mo$Y in the form of the work of the staff who were now employed by Brookes. Trustees decided that il Would be inappropriate to continue to collect any Gift Aid as from 19th December 2022 and so this option was removed from the website and no daims to HMRC were made as from this date. From 31st August 2023, the Hamilton Brookes website having gone live, neither Hamilton Trust nor Homilton Education had any inleoction or contract with teachers or schools with regard lo rgnewod or new subscriptions. However, there was still some liaison beiween the Trust and Hamilton Brookes- still ongoing though redu¢ing- in supporting new publishing, particulady where the Trust fer( that it had a moral responsibility to help Iinalise specrfic units tsC1t committed in previous communications with users and to resohje actual or conceivable issues with respect to copyright. Ima ination Libraries 'Imagination Marlborough,, a partnership with the DolW¢x4J Foundation - a charity started and overs*n by Dolly Parton- contsnued successfully. Wrthin the designated area la circle with a radius of five miles from Marlboroughl. any child under the age of five can be enrolled in the programme. such that they receive- without any charge- an age-appropriate book every month until they 'graduale' aged five. As reported last year, a similar project was started in Dorset. 'Imagination Dorcheslerf. and this has been enomioUs successful through the unpaid efforts of ils project manager Hannah Marsh, with over 700 under-five children registered at the time of writing. Staffing numbers had been gradually reduced before the transfer to Oxford Brookes, and on 19th Dfjcember 2022 the dale of the transfer - all but one of the remaining five stsff transferred to employment by Oxford Brookes Unwersity under a TUPE umbrella. As slated in last yeals report, the Iruslees wish again to express their great appreciation for all our staff over many years. Reflecting back to a particulady challenging period. that of the covid lockdowns (although happily these becoming a more distant memory), the team rose to the occasion in an extraordinary way, onabling parents at home lo support schools in their children's ongoing education. The first adaptsd materials were made available within days of the announcement that schools were to be closed and this work and support eonlinued throughout the school closures. Final connections with the transferring staff were ended in March 2023 when the four TUPE'd staff vacated the Trust's East Oxford office and moved lo their new OBU offices al Harcourt Hill. The Trust also said farewell to Professor Ruth Merttens who resigned from Hamilton Trust at the end of May 2023. IVS appropriate lo repeat some comments in last yeals Report.. Ruth was an extremely effective Education Director for over 25 years. combining her great expert¢'se across so many facets of primary education. exlIent anticipation of what teachers would need, a strong work ethic and the highest values. Since May 2023 Hamilton Brookes has been able lo employ Ruth as part-time consultant whieh has helped gwe some additional continuity to the transfer pro¢e$s. STRATEGIC REPORT Achievement and pèrformance The Trust used Google Anatylies to obtain as much as infomiation a8 possible about the nature and quantity of the Hamilton websile usage. Our estimate has been that at the time of Iransler there have been up to 50,000 active teacher users who regularly d¢)wnloaded adaptable plans from for their teaching of English. maths, and cross-curricular Topics -'an active userf being defined by th8 Trust as someone who uses the $119 al least onc8 each month. This method of distribution of the Trust's resources continued to be highly cost-efficient. Akhough it did require a Signifint expendrture each year on the development and maintonance of the website, the total average dissemination c08t- and particularty the increment81 cost- lo the Trust per teacher supported remained vèry low.
WILLIAM ROWAN HAMILTON TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 As slated in previous rep)rts, user numbers tend lo pgak following the introduction of new guidance from the DfE. above all from Changes lo the National Curriculum, and then decline slowly in the years following. However. for numbers - and hence the Trust's income - to be maintained, we have aayS believed that there needs to be a continually refreshed publishing programme. well communicated to schools and teachers, and there has been some inevitable 'planning blight, from the state of limbo before and then after the transfer lo Brookes. On the upside, Iruslees have long realised that they have paid very little attention lo the promotion of Hamilton resources above all through social media - instead reIng on word of moLrth referrals. Il's therefore reassuring to See the new management of Hamilton Brooke$. supported by the stsff from Hamilton. beginning lo exploit opportunities provided by the use of social media and also from Hamilton Brooke5' links With the Unwersity's Sthool of Education. STRATEGIC REPORT Financial revièw Financial position Figures for 2022123 are not particularly comparable wfth those fcsr 2021122 for main reasons.. the fact that the Iransfor to Oxford Brookes occurred only seven weeks into the year followed by an eight month interregnum, and also on the expenditure side as Ihg Trust donated significant sums to the University to support the first few years of the transition. Total expenditure for 2023 was £815,620, compargd with £472,423 th¢ previous year., £180,000 of the 2023 expenditure was represented by donations to Oxford Brookes as per the transfer agreement, and there were additional expenses incurred on behaw of the Universty during the interregnum as well as other donations to charitable Ofganisations in the year. Income from donations by individual teachers as Friends of Hamilton this year lolalled È190.363 (including Gift Aid for the first seven weeks of the yearl, compared to the 2022 figurg of £309,584. Additionally, Hamilton Education- which has effectively distributed Trust products at cost in recent years - prowded the Trust with a royalty income of £134,448 for the year1£185,451 in 20221, nearly all ftom sales of school subscriptions in the first ten months of the year (though excluding the high-income month of September and October 2023 following the launch of the Hamilton Brookes website on 31st ALbgusll. The Trust also received a lolal of £40,057 in income from its investment portfolio [£31,260 in 20221. and overall the total income for the year was £371.931 12022.. £526,S471. There was a nel deficit for the year of £448,473., this omprised a deficit of £443,689 from operations and investment income together with investment losses of £4,784 (comparable figures for 2022 were a deficit of £147,509, made up of a £54,124 surplus from operations and investment incom8 and investment losses of £201,633). ReseThe8 poIIcy The trustees seek to have sufficient Teserves so that there is negligible financial risk to the Trust's neaf-term plans. Specifically, al the start of each financial yearthe assets held in bank dep05115 and highly liquid investments. when added to 50% of the value of its freehold assets, should be higher than the previous yearfs net exFknditure and also higher than the forecast gross annual expenditure for the next year less 50% of the forecast income from investments, grants and other revenue. This threshold is again comfortabty exceeded. The Trust has a heamhy overall credit balancg (taking into acUnt the liquid investsnent assets) and the trustees lake the view that (c is prudent to retain substantial reserves so that the Trust can make signrficant expendriures rf judged by the trustees lo be in the interests of the Trust or in supporting f(s overall objectives. It is, however, also the case that the trustees would not want to hold more funds than was considered prudent to ensure the maintenance of a broad programme of educational support over the next few years, and so the trustees will continue activety lo revigw the Trust's Reserves policy. Brewin Dolphin are appointed to manage all the Trust's assets lotherthan the Trust holding sufficient cash in bank accounts for working capital. and its freehold office propetyl. A low-risk inv&slment PKJlicy has been agreed with Brewin Dolphin.
WILLIAM ROWAN HAMILTON TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 Future plans Oxford Brookes University, in the form of Hamikon Brookes and suppKJrted by Hamilton Trust, have impl8men18d all the details of the transfer of Hamilton operations lo Brookes within 2023. The Trust's offices have been vacant since March 2023 and planning permission was successfulty gained for change of use to residential and an offer was a¢pted before the year end Icompletion occurred in January 20241. The Trust - by design now has no employees and no office and the trustees will not embark on any Tru51-managed new educational project. 11 will though conb'nue wtth the tsvo Imagination Library initiatives in Dorchesler and Marlborough. Looking lo the future, the Trust intends to use its financial resources to make a number of donations- some of a relatively large size - to various charities over the next few years, above all in edUtIon and in the Early Years. selecting recipients who we be5ieve Can make signrficant positive changes from the grants we provide. STRUCTURE. GOVERNANCE AND MANAGEMENT The William Rowan Hamilton Trust is a registered charty (number 1150241 incorporated on 26 October 2012. The stated o*-ects of the Trust a lo apply the trust fund for eharitable purposes, at the discrelKJn of the trustees. William Rowan Hamilton TrusV8 operations were managed during the fir51 ha of the year by Professor Ruth Merttens las Education Director) with executive support from Michael O'Regan {Chair of Trustees), and - with less management required since then - by the Chair. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company numbèr 08269877 {England and Wales) Registerèd Charity number 1150524 Regl8tered office la Howard Street Oxford OX4 3AY Trustees M R H J O'R$gan K W Brooks G J Mcmiifan E J S O'Regan Auditors Mercer Lewin Lld Chartered AccDuntsnls and Registered Auditors &7 Citibase New Barclay House 234 Bolley Road Oxford OX2 OHP
WILUAM ROWAN HAMILTON TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2023 STATEMEfvif OF TRVSTEE8' RESPONSIBILJTies The trustees Iwho are also the directors of WIllBm Rowan Hamilton Trust for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial slalemènls in accordance with applicable law and United Kingdom Accounting Standards (United TrQ'ngdom Generally Acc6PtecJ Accounting Praeticel. Company law requires the trustees lo prepare financial slalements for each finanoal year which give ? true and fair view of the stste of affairs Df the Gharitsble company and of the incoming resources and opplcation of resources, including the income and expenditu, of the charitable ¢ompany lor that period. In preparing those financial slalemenls. the trustees are requirett lo select suitable accounting policies and then apply Ihem Gonsislenlly., observe the methods and principles in the Charity SORP-, make judgement9 and estimates that a reasonabl& and pmdenl-. prepare the financial statements on the going concem basis unless it is Irbappropriate to pres£ that the charitable c¢mpany will continue iii business. The trustees are responsible for keeping piopèr a¢count2ng re¢ords which dwlose with reasonable accuracy at any lime the financial posthon ofthe charitsble company and lo enable them to ensu that the financi statements Comply with the Compgnlas Act 20a6. They are also responsible for safeyuarding the assets of the ¢haritable company and hence for takrng rÈa80fioble slep5 for the prevention anrj ¢Jeteclion of fraud and other irregularities. In so fai as the trustees are aware.. there ts no levant audit infoTrnation ol whl¢h the chanlable company's auditor5 are unawar&-. and the trustee5 have taken all steps that they ought to have tsken to make tremsefves aware of relevant audit infc*malion and to establEh that thè auditors are aware of that inforrllation. AUDrroRS The auditors, Mercer Lewin Ltd, 11 be proposgd for re-appointment at the lothcomvig Annual General Meetin9. Report of the trustees, inmrporaling a strategic report approved by orderof the board of trustees, as the company directgrs, on 25 June 2024 and sHJned on the board's behalf by.. M R H J (YRegan - Trustee
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WILLIAM ROWAN HAMILTON TRUST Oplnlon We have audtted the financial statements of WIllEam Rowan Hamilton Tfust Ithe'charitable company'l for the year endgd 31 October 2023 which MpriSe the Slalemenl of Financial Aclivities. the Balan Sheet, Ihg Cash Flow Statement and notes lo the financial stslements, including a summary of significant aceounling policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Aecepted Accounting Practycel. In our opinion the financial statements.. give a true and fair view of the stale of the Charitab company's affairs as al 31 October 2023 and of its incoming resources and aPpIabOn of fesources, including its income and expenditure, for the yearthen ended., have begn prop8rly prepared in accordance with United Kingdom Generally Accepted Accounting Pract-, and have been prepared in aOrdanCe with the requirements of the Companies AGI 20LI8. 8a818 for opinion Vve conducted our audit in accordan with International Standard8 on Audrtiw (UK} IISAS IUK}} and applicable law. Oui responsibilities under those standards are further described in the Auditors, rèsponsibilities for the audit of the financial stslemenls section of our report. We are independent of the charitable company in accordan with the ethical requirements that are relevant to our audit of the financial 51atemenls in the UK. including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilitie8 in accordance with these requirements. We bolieve that the audit eviden we have obtained is suffKient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial 51alemenls, we have CDncluded that the trustees, use of the going concern basis of accounting in the preparalion of the financial statements is appropriate. Based on the work we have perfomied. we have not identified any material uncertainties relating lo events or condrtions that, individually or colleclNely, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least ts¥e months from when the financial statements are authorised for issue. Our responsibilitl8s and the responsibilities of the tru8tee8 With respect to going concem are described in the relevant sections of this report. Oth•r information The trustees are responsible for the other infomiation. The other infomiation comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other infom)ation and, except lo the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial statements, our responsibility is lo read the other information and, in doing so, consider whether the other infom)ation is materially incon51Stenl with the finan¢k71 statements or our knowledge obtained in the audit or othenlSe appears to be materially misstated. If we rdenlify such material inconsistencies or apparent material misstatements, we are required to delemine whether this gives rise to a material mi5slatement in the financial statements themSeeS. If, based on the work we have perfomed, we conclude that there Is a material misstatement of thi8 other infomation, we are required to report that fact. We have nothing lo report in this regard.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WILLIAM ROWAN HAMILTON TRUST Matter5 on whlch we aro requlred to report by exception We have nothing to report in respect of the following matters where the Charilios (Accounts and Reports) Regulations 2008 require5 US to report lo you if, in our opinion.. the infomialion given in the Report of the Trustees is inconsistent in any material rospecl with the financial statements.. or the charitable company has not kept adequate accounting records,. or the financial slalemenls are not in agreement with the accounting records and retums., or we have not received all the information and explanations we require for our audit. Responsibilities of tru$tegS As explained more ful in the Slalemenl of Trustees, Responsibilities, the trustees (who ale also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial slalemenls and for being sats"sfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In prapaiing the financial statements. the trustees are responsible for assessing the charitable company'8 ability to continue as a going concern, disclosing, as applicable. matter5 related lo going concern and using the going concern basis of accounting unl8ss the trustees either intend lo liquidat& the charitable company or to cease operations, or hav& no realistic alternative but to do so. Our re8ponsibilities for the audit of tho financial statements We have been appointed as auditors under Section 144 of the Charitv&s Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objgctives are to obtain reasonable assurance about whether the financial statements as a whole are free from malenal misstatement, whether due lo fraud or errof, and to issue a Report of the Independent Auditor5 that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alayS det&cl a material misstatement when il exists. Misstatements can arise from fraud or error and are consider8d material if, individualty or in the aggwate, they Could reasonabty be expectsd lo influence the èconomic decisions of users tsken on the basis of these financial slalements. The extent ID which our procedures a capable of detecting irregularities, including fraud is detailed below.. We discussed theframework and environment in which the charity operates with senior management and, together with Dur knowledge of the environment in which the charity operates, sought to identify laws and regulations which are critical lo the charity's operations. None were identified. To address the risk offraud through management bias and override of controls we perfomied analytical procedures lo identfy unusual or unexpected relationships or Iransaclions, tested journal entries to idenlfy unusual transactions and investigated the rationale behind unusual Iransaclions. In response to identffied risks we designed procedu$ which included. but were not limited to.. Agreeing financial disclosures to underlying sUPPOrting documentstion Reading the minutes of meotings of those charged w((h governance Enquiring of management as to actual and potential litigation and claims. A further deseription of our responsibilrties for the audit of the financial slat8ments is located on the Financial Reporting Council's websrte at www.frc.org.uklaudilorsresponsibilities. This description forms part of our Report of the Independent Auditors.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WILLIAM ROWAN HAMILTON TRUST Use ofour raport This report is made $018ly lo the Charitab company's trustees, as a body, in a¢cordance with Part 4 of the Charities IAceounls and Reports} Regulations 2008. Our audit work has been undertaken so that we might stale to the charitsble company's trustees those matters we are required lo state to them in an auditors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charrtable Company and the charitable company's trustees as a body. for our audit work, for this rep)rt. or for the opintons we have formed. L_ LknL Mercer Lewin Ltd Chartered Accountants and Regisl8red Auditors Eligible lo act as an auditor in terms of Sect¥Jn 1212 of the CoMnieS Acl 2006 &7 Citibase New Barclay House 234 Botley Road Oxford OX2 OHP 19 July 2024
WILLIAM ROWAN HAMILTON TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023 2023 Unrestricted fvnd 2022 Total fund$ Notes INCOME AND ENDOWMENTS FROM Donations arKI legacies 190,363 309,584 Charitsblg activiti Supp)rt for Education 134,448 185,451 Investsnenl income Other income 40,057 7.063 31,260 2S2 Totsl 371,931 526,547 EXPENDITURE ON Raising funds 9,971 10,512 Charitablg activitips Support for Educalion 805.649 461,911 Total 815,620 472,423 Net gain(lo$se$) on investmgnts 4,784) (201,633) NET INCOMEIIEXPENDITUREI 1448,4731 (147.509) RECONCILIA TION OF FUNDS Total funds brought forward 1,893,547 2.041,056 TOTAL FUNDS CARRIED FORWARD 1.445.074 1,893,547 The notes fomi part of these financial statements
WILLIAM ROWAN HAMILTON TRUST BALANCE SHEET 31 OCT08ER 2023 2023 2022 Total funds Unrestricted fund Notes FIXED ASSETS Tangible a55ets Investments 13 14 60,866 1,337,268 86,194 1.441,840 CURRENT AssErs Debtors Cash at bank 1.398,134 1,508,034 15 12.122 50,009 351,106 CREDrfoRS Amounts falling due within one year 54,181 401,115 16 17.2411 115,6021 NEf CURRENT ASSETS 46,940 385 513 TOTAL ASSEfs LESS CURRENT LIABILITIES 1.445,074 1 893,547 NET ASSETS 1,445,074 1,693,547 FUNDS Unfestricled fiJnd¥ 17 1,445,074 1.893.547 TOTAL FUNOS 1,445,074 1,893.547 The charilable Company is ents1 to exemption from audit under Section 477 of the Companies Act 2008 for the year ended 31 October 2023. The member5 have not deposited notree. pursuant to Section 476 of the Companies Acl 2006 requiring gn audit of these financial Statements. The Iruslees acknowledge Iheif responsibilitie5 for (al ensuring that the charitable company keeps accountsng records that compty wth Sections 386 and 387 of the Companles Act 2006 and preparing finan¢ral statemènts which give a true and fair view of the state Of affairs of the char*table company as at the end of eaeh financial year and of its Surplus or deficit for each financial year in accordance the requirements of Sections 394 and 395 and which otherwisp mplY wth the requirements of the Companies Act 2006 lating to financial statement5, so far as applieable to the charitable company. Ibl These financial statements have been audited under the requIrerTt$ of Section 145 of the Charities Act 2011. The financial statements were approved by the Board of Trustees and authorised for issue on 25 June 2024 and were Signed on its behalf by.. M R H J O'Regan - Trustee The notes form part of the58 financial statements 10
WILLIAM ROWAN HAMILTON TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2023 2023 2022 Notes Cash ftows from operating activities Cash generated from operations 19 448.8931 26,901 Net cash used in operating activities 448.8931 26,901 Cash 110v from Inve8tin9 activitie8 Purchase of fixed asset inveslmenls Sale of fixed asset investments Interest received Dividends re1ved {283,5511 383,340 433 39,624 1312,2961 259.887 23 31.237 Net cash provided byllus8d inl investing aclivrties 139.846 21,149 Change in cash and cash equlvalents in th8 rgporting perlod Cash and Cash equivalents at the beglnning of the roporting period 1309,0471 148,0501 351.106 Cash and cash equlvalonts at tho end of the roporting perlod 42.059 351,106 The notes fom part of these financial statements
WILLIAM ROWAN HAMILTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial ststements of the charitable company, which is a public benefit enlily under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities: Slalemenl of Recommended Practs"ce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) leffoclive 1 January 20191,, Financial Repo.ng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convents"on, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. INCOME All ineorne is recognised in the Statement of Financial Activities On the charity has entitlement lo the funds. it is probable that the income will be received and the amount can be measured reliably. EXPENDITURE Liabilrties are recognised as expenditure as soon a5 there is a legal or construth've obligation commth'ng the charity to that expenditure, rt is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendrture is accounted for on an accruals basis and has been classffied under headings that aggregate all cost related lo the category. Where costs cannot be direcuy attributed to particular headings they have been allocated to a¢tivilie$ on a basis consistent with the use of resour. Grants offered subject to condition5 which have not been met al the year end date are noted as a commitment but not accrued as expendrture. TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lrfe. Frgehold property Motor vehicles Computer equipment 2% on cost 25% on e¢)st 25% on cost TAXATION The charity is exempl from corporation tax on ils charitable activities. FUND ACCOUNTING Unrestricted funds can be used in accordan with the charitable objectives at the discretion ofthe trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Reslridions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and PUrse of each fund is included in the notes to the financial strdtements. PENSION COSTS AND OTHER POST-REfiREMENT BENEFITS The charitable company OFerate5 a defined contribution pension scheme. Contributions payab18 to the charitabLg wmpany's pension sch8me are charged lo the Statement of Financial ActNities in the period to which they relate. 12 continued...
WILLIAM ROWAN HAMILTON TRUST NOTES TO THE FINANCIAL STATEMENTS- continuod FOR THE YEAR ENDED 31 OCTOBER 2023 DONATIONS AND LEGACIES 2023 2022 Gift aid Friends of Hamitton Trust 4,184 186,179 41.762 267,822 190,363 309,584 INVESTMENT INCOME 2023 2022 Other fixed asset invest- Fll Deposit account interest 39,624 433 31,237 23 40 057 31,260 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Activity Support for Education Royalties 134,448 185,451 RAISING FUNDS INVESTMENT MANAGEMENT COSTS 2023 2022 Portfolio management 9,971 10,512 CHARITABLE ACTIVITIES COSTS Grant funding of activrties (see note SLAPPOrt costs Ise note 81 Direct Costs 71 Totals Support for Education 488,355 805,649 13 continued...
WILLIAM ROWAN HAMILTON TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YE4R ENOED 31 OCTOBER 2023 GRANTS PAYABLE 2023 2022 Support for Education 309.664 1.000 The total grants paid lo instilulions during the year was as follows.. 2023 2022 309,664 1,000 SUPPORT COSTS Governance cos15 Finance Totals Support for Education 4,557 7,630 NET INCOMEI(EXPENDrruRE) Net ineomellexpendilure} is slated after chargingllcreditingl.. 2023 2022 Auditors, remuneration Depreciation - owned assets Defiut on disposal of fixed assets 3.000 2,254 3,073 3.000 4.218 10. TRUSTEES. REMUNERATION AND BENEFITS There were no truste8s' remuneration or other benefits for the year ended 31 October 2023 nor for th8 year ended 31 October 2022. TRUSTEES. EXPENSES There were no trustees, expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022. 11. STAFF COSTS 2023 2022 Wages and salaries Social security costs Other pension costs 89,466 6,471 3210 171,032 12,091 8,948 99,147 192.071 The average monthly number of employees during the year was as follows.. 2023 2022 Administrative and support staff 14 continued...
WILLIAM ROWAN HAMILTON TRUST NOTES TO THE FINANCIAL STATEMENTS- continugd FOR THE YEAR ENDED 31 OCTOBER 2023 11. STAFF COSTS- continu•d No employees received emoluments in excess of £60,000. 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and Iggacies 309,584 Charltable actlvltles Support for Education 185,451 Investment irtt)me Other income 31,260 252 Total 526.547 EXPENDITURE ON Raising funds 10,512 Charitable activities Support for Education 461,911 Total 472,423 Net gaInlI0ses) on investments 201.6331 NET INCOMEIIEXPENDITURE 1147.509) RECONCIUATION OF FUNDS Total funds brought forward 2.041,056 TOTAL FUNDS CARRIED FORWARD 1.893.547 15 ctsntinued...
WILLIAM ROWAN HAMILTON TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 OCT08ER 2023 13. TANGIBLE FIXED ASSETS Freehold propety Motor vehicl8S Computer oquipment Totals COST At 1 November 2022 Disposals 83,406 10,976 10,9761 16,179 16.179 110,561 27.155 At 31 OGlober 2023 83,406 83.406 DEPRECIATION At 1 November 2022 Charge for year Eliminated on disposal 20,286 2.254 10,976 13.105 44,367 2.254 24,081 10,976 13,1051 Al 31 October 2023 22.540 22,540 NET BOOK VALUE At 31 October 2023 60,866 60,866 At 31 October 2022 63.120 3,074 66.194 14. FIXED ASSEf INVESTMENTS Listed investments MARKET VALUE At 1 November 2022 Additions Disposa15 Revaluations 1,441.840 283,551 1383,3391 4,7841 Al 31 October 2023 1.337.268 NET BOOK VALUE At 31 October 2023 1.337 268 At 31 October 2022 1.441,840 There were no investment assets outside the UK. Cost or valuation at 31 Ocloter 2023 is rapresented by.. Listed investments Valuation in 2023 1.337,268 16 continued...
WILLIAM ROWAN HAMILTON TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCT08ER 2023 15. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Other deblgrs Grft aid VAT Prepayments 41,038 4,407 3,606 12.122 958 12,122 50.009 16. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2023 2022 Trade credf(or$ Social security and other taxes VAT Pensions payable Accruals and deferred income 4.241 2.622 2.653 6.072 1,255 3.000 3,¢)00 7,241 15,602 17. MOVEMENT IN FUNDS Nel movgment in funds Al 311103 1111122 Unrgstrlctsd fund8 General fund 1,893,547 1448.4731 1,445.074 TOTAL FUNDS 1,893,547 1448,4731 1,445,074 Net movement in funds, included in the above are as follows= Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 371,931 1815,6201 {4,7841 1448,473 TOTAL FUNDS 371.931 815,620 4.7841 448,473 17 continued...
WILLIAM ROWAN HAMILTON TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 OCTOBER 2023 MOVEMENT IN FUNDS- contlnuod Comparatives for mov•m•nt In funds Net movement in funds At 1111121 At 31110122 Unrgstricted funds General fund 2,041,056 1147,5091 1,893,547 TOTAL FUNDS 2,041.056 147.509) 1,893,547 Comparative net movement in funds. included in the atove are as follcms: Incoming resources Resources experKled Gains and losses Movement in funds Unrostricted fund8 General fund 526,547 1472,423) 1201,6331 {147,5091 TOTAL FUNDS 526,547 472,423 201,633) 147,5091 A current year 12 months and prior year 12 months combined F)OSition is as folk)ws'. Nel movement in funds Al 31110123 1111121 Unrestrlctad fund8 General fund 2,041,056 {595.982) 1,445.074 TOTAL FUNDS 2,041,056 595.982 1,445.074 A current year 12 months and prior year 12 rnonlhs wmbined n&t movement in funds, in¢luded in the above are as follows.. Incoming resources Resourees 8xpended Gains and lossès Movement in funds unrestrict funds General fund 898.478 11,288.0431 (206,417) 1595.9821 TOTAL FUNDS 898.478 11,288,043 206,41 595.9821 18 continued...
WILUAM ROWAN HAMILTON TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnuod FOR THE YEAR ENDED 31 OCTOBER 2023 18. RELATED PARTY DISCLOSURES During the year, there were no related party transactions. 19. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net oxponditure for tho rgportlng perlod {as per the Statsment of Financlal Activities) Adlustments for: Depreciation charges Los58s on investments Loss on disposal of fixed assets Interest received Dividends reiVed Decr&asellincreasel in debtors Decrease in creditors (448,4731 (147,5091 2,254 4,784 3,073 {433} 139,624) 37,887 8.361 4,219 201,658 1231 131,2371 137,9331 16,076 Net used in operatlon8 448.8931 26,9011 ANALYSIS OF CHANGES IN NEf FUNDS Al 1111122 Cash flow At31110123 Not ca8h Cash at bank 351.1C6 309.0471 42,059 3S1,1( 309,047 42,059 Total 351,11 309,047 42,059 19