THE HALPIN TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDING 31ST DECEMBER 2024 THE HALPIN TRUST FULL NAME OF CHARITY The Halpln Triist GOVERNING INSTRUMENT DeGlarallon of tiusl 05.10.2011 DATE OF REGISTRATION 21.01.2013 REGISTERED CHARITY NO. 1150540 TRUSTEES OF CHARITY DURING YEAR ENDING 31ST DECEMBIR 2022 Clalfe Halpin 12 Captain's Field Llanfrynach Brecon LD3 7BD Susle Hllls Ellcn House 16 Deep Lane Ciedllon EX17 2BX Dr Thomas (Tom) Samuel Weslpercoll Burdilt 19, The Row Sllverdale Carnfortli Lancashlre LA5 OUG Professor Nlcliolas Jose Talbot 1 Eastdon Coltages Orchard Lane Eastdon Slarcr088 Devon EX6 8RL PRINCIPAL ADDRESS Winckwortl) she￿ood LLP Arbor 255 Blackfiiars Road London SE19AX SOLICITORS TO THE CHARITY Winckworth SheNood LLP BANKERS TO THE CHARITY HSBC PLC Winckworth She￿OOd LLP Client cuirenl and deposil accounts INDEPENDENT EXAMINER Mr Phillip Dolman Chartered Accountanl Thc Mews Hounds Road Chlpping Sodbury Biistol BS37 6EE AREA OF BENEFIT Grai)t makiiig charity. Tlie Iriislees intend to focus their supporl upon three inain areas: 1) Enviroiimenl and consewglion Specifically the pioleclion of wildlife habllat and syslems conservallon rather tlian individual specie8. The Iwstees are nterested in Ihe social issues wliich are leadiwlg to the habilal deslruclion bul Ihfty are more Ilkely lo be Inleresled In smaller scale, localised issues rather than global sustainabilily issues relaling lo policy making, economics 8tc. 2) Educat. Focussed uri lackling poinls ofdisadvanlage and providing opporlLinily for iileritlabilily lo overcoime dlsadvanlage. 3) Health Similar principles apply as Iliose guiding Ihe olher areas. Medical research Is of particular interest. INVESTMENT POWERS Wide - nolhlng In the Tiust Deed testrlcts or excludes the exercise by the trustees of Ihe powers glven by tlie Trustee AGt 2000 as regards invostment. APPOINTMENT OF TRUSTEES Trustees (by r8solulloii>. RISKS The Charlty Is exposed lo Iluctuatlons In the slock market. In selecting Inveslmenls the Irustees follow advice given by Ruffer LLP, subject to IheSr scrullny of eacli half yearly report. FUYURE PLANS The Charlly wlll conlinue to make granls in accorda11￿ with the objects of lh& constitulion. eob ecls of the charlt To apply Ihe Incoine and all or such part or parts of the capital at such limes and In such manner to or for lh8 benefit of such exclusSvely charilable objects and purposes (regarded as charltable under the laws of England and Wales) ii) any part of the world as the tnistees thiiik fil. The funds aTe for general dislributlon and there are no endowmenls. Pollcles and or anlsatlon of the charit In practlce, It is Ihe pollcy of the trustees to expend Ihe income and capilal of Ihe tiust for such charilable purposes. Publlc benef it The Irustees have made giants oul of Ihe InGome of Ihe tiust in Iiiifilnienl of the objects of the trust. During 2023 grants were made lo various charities. The trustees have paid due règard to the Charity Conimission's giiidance on public benefil in declding whal activities Ihe Halpln Trust should undortake. Matorial chan es In the charit olicies and or ai)isation duriii the ear There were no material changes in the charily's policies and organisalion duiing the year. Iiivestment olic and erfoymance Investment aclivilies are managed in line wilh the requlremenls of Ihe Trust8e Act 2000. The tTuslees have coiilinued lo appoinl Ruffer LLP as inveslmenl manager allowing iheim to manage the portfollo uslng their dlscrellon. Thc Iruslees. inveslinent policy Is blased towards incoma and to provide equilibrlum between capital growth and income. Tliere is cuyrenlly a holdlng of 65,373,554 L F Ruffei Total Reluri) Fund as at 31 December 2024. The valu8 of the portfollo has decreased to £208,129.00 represenling a decrease of 3.84% on Ilke for like basls. Ruffer LLP revlew the portfollo on an ongoing basss and report to the truste8s Iwlce a year and as and when approprlate. FinaTiclal 081 lon of tho charlt Ruffer LLP have conllnLied to advise the tiustees on lh6 trust POTlfolio, which has b8en revlewed by Ihem on a half yearly basis, and as and when the need arises. R¢vSow of th accounts for the ear endln 316 December 2024 The flnanclal 9talements comply wllh the Charllle8 Act 2011, Ihe Coinp8nles Act 2008 and Ihe AGcounling and Reporting by Charilies, Slalement of Recommended Praclice (SORP) appllcable lo charllles preparlng thelr accounls In accordan￿ wllh the Finandal Reportlng Standard appllcable In the UK and Republic of I￿land (FRS 102) , Law applicable to charilles In England and Wales requlre8 the Irustees to PTepare Ih Trustees Aiinual Report and financial 8taleinents for each financlal year which give a true and fair view of Ihe charity's financlal aclivilies during the year and of Ils financial position at the end of the year. In preparing financial statemenls the Irustees are requlred lo: Select sullable accountlng polid8s and then apply Ihem conslstently. Observe the methods and prlnclples In Ihe Charltles SORP. Make Judgements and estimates thal are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures and explalned In the financlal slatem8nls. Prepare the financlal statements on the golng concern basts unless It Is inapproprlale lo presume Ihat the charity wlll continue in operallon. (Iv) (v) The Irustees are responslble for keeplng accountlng records which disclose with reasonable accuracy the financial position of Ihe charity and which enable them to ensure Ihat th8 rinancial stalemenls compty wlih the CharRies AGI 2011, Ihe charity (accounts and reports) Regulatlon5 200B and Ihe provislons ol the Irusl deed. Tliey are also responsible for safeguarding Ihe assets of fhe charily and hence for laking reasonable steps for the pravenllon aiid deiectlon of fraud and other Irregularities. O cknb (19,937.05) Transfer from In￿me 80,099.51 0.00 333,436.19 371,963,30 Less:. Legal, accounlancy, taxallon and administration charges and disbursements 4,302.37 4,856.74 VAT thereon 860.47 971.36 Phillip Dolman - Independent examiner fees 475.00 450.00 VAT thereon 95.00 90.00 Donation to Curlew Recovery South Lakes Donalion to Wildflower Colleclive CIC Donation to Farms for City Children Donalion to The Species Recovery Trust Donation to Morecambe Bay Partnership Donation to University of Exeler Donation to Bristol Avon Rivers Trusl Donation to Bristol Avon Rivers Trust Donalions to Devon Wildlife Trust Donation to Northern Roots LTD Donalion to Getgenome 11,500.00 8,009.00 30,000.00 25,000.00 0.00 96,478.35 0.00 0.00 48,500.00 100,000.00 8.216.00 0.00 0,00 31,512.00 22,550.00 108,318.00 34,157.00 52,775.00 9,916.00 0.00 115,420.00 0.00 Balance carried fop¥vard as al 31 December 2024 £0.00 £9 052.79 THE HALPIN TRUST INCOME ACCOUNT FOR THE PERIOD 1 JANUARY 2024 TO 31 DECEMBER 2024 2024 2023 Balance brought forward as to 1 January 2024 285,388.43 234,132.99 Dividends received (see page 8) 4,361,20 5,698.14 Winckworth Sherwood - gross interest 691.70 0.00 HMRC Refund - Gift Aid 71,265.23 47,500.00 361,706.56 287,331.13 Legal, accountancy, taxation and administration charges and disbursements 1,434.13 1,618.92 VAT thereon 286.83 323.78 Transfer to capital 80,099.51 0.00 Balance carried forward as at 31 December 2024 £279,886.10 £285,388.43 Ill