**REGISTERED CHARITY NUMBER: 1153085** ## **REPORT OF THE TRUSTEES AND** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** **FOR** **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ||**Page**| |---|---| |**Report of the Trustees**|1 to 3| |**Independent Examiner's Report**|4| |**Statement of Financial Activities**|5| |**Balance Sheet**|6| |**Notes to the Financial Statements**|7 to 13| |**Detailed Statement of Financial Activities**|14| **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024** The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and activities** The Trustees agreed to be guided by the Settlor's letter of wishes in which she listed the following as beneficiaries she would like to benefit:- - The Girl Guide movement - For educational purposes, e.g. higher education - Mount Pleasant Baptist Church, Kettering Road, Northampton. The Trustees also agreed that they would favour making grants to individuals and organisations helping people in the county of Northamptonshire. ## **Public benefit** The Trustees have had regard to the Charity Commission guidance on public benefit. As the charity's activity is to distribute grants to those in need, the Trustees believe the public benefit in the charity's activities is clear. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Grants** At their meeting in April and November 2024 the Trustees agreed to make grants totalling £25,099 being the majority of the income available to them. ## **FINANCIAL REVIEW** ## **Financial position** The charity made a deficit of £2,366 for the year, after investments gains arising of £53. As at 31 December 2024 the Trust has reserves of £887,600 all of which are unrestricted. The Trustees policy is to hold £1,000 as a contingency to cover costs. All on-going income is received as dividends from stocks and shares. There were grants made during the year that were in line with the criteria in the Trust Deed. ## **Investment policy and objectives** The investment policy and objectives is for the Trust to receive a balanced return from capital appreciation and income. At their meeting on 19 November 2013, the Trustees agreed to instruct both Cave & Sons (now MHA Caves Wealth) and Vartan Ravenscroft (now Ravenscroft) as investment managers. Each investment manager was sent £400,000 to invest, which would enable the Trustees to view performance on an annual basis. The Trustees also agreed that Cave & Sons (now MHA Caves Wealth) should continue to manage the small portfolio that they had been managing on Mrs Greenhalgh's behalf, but that this should be ring-fenced and be accounted for separately from the £400,000. During the current year one of the investment managers were changed to RBC Brewin Dolphin, from MHA Caves Wealth and after the year end the other investment manager Ravenscroft was also changed to RBC Brewin Dolphin. Page 1 **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** Rosemary Elizabeth Greenhalgh died on 18 December 2012, and her Will was proved on 12 April 2013. The Trust was created under the Will of Mrs Greenhalgh dated 1 July 1999, and the Trust was registered at the Charity Commission on 26 July 2013 with charity number 1153085. A Supplemental Trust Deed dated 20 November 2019 was registered with the Charity Commission, and a Resolution under Section 280 of the Charities Act 2011 was passed on 10 July 2020. ## **Recruitment and appointment of new trustees** The appointment of trustees is covered in the Supplemental Trust Deed. There was no change to the board of Trustees during the year. ## **Risk management** The Trustees have given consideration to any major risks, but in their opinion, as there are no on-going commitments, the policy on reserves covers the situation. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1153085 ## **Principal address** c/o HCR Hewitsons Lancaster House Nunn Mills Road Northampton Northamptonshire NN1 5GE ## **Trustees** K Davidson V Henley R P Hampson Mrs S E Alcock ## **Independent Examiner** Shaw Gibbs Limited Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ Page 2 **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024** **REFERENCE AND ADMINISTRATIVE DETAILS Bankers** CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ **Clerk to the Trustees** HCR Hewitsons Lancaster House Nunn Mills Road Northampton Northamptonshire NN1 5GE **Financial Consultants** MHA Caves Wealth Lockgates House Rushmills Bedford Road Northampton NN4 7UB Ravenscroft The Singing Men's Chambers 19 Minster Precincts Peterborough PE1 1XX RBC Brewin Dolphin The Chatwin Building 81 Colmore Row Birmingham B3 2AP 08/10/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by: ................................................................. V Henley - Trustee Page 3 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** ## **Independent examiner's report to the trustees of The Thomas and Rosemary Greenhalgh Charitable Trust** I report to the charity trustees on my examination of the accounts of The Thomas and Rosemary Greenhalgh Charitable Trust (the Trust) for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I have no concerns and have come across no other matters in connection 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. ## **Use of our report** This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our independent examination work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our independent examination work, for this report, or for the opinions we have formed. Nicola Fox FCA Shaw Gibbs Limited Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ Date: 13 October 2025 Page 4 **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** |2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Investment income
2
35,457
**EXPENDITURE ON**
Raising funds
3
7,509
**Charitable activities**
Making Grants
30,367
**Total**
37,876
Net gains/(losses) on investments
53
**NET INCOME/(EXPENDITURE)**
(2,366)
**RECONCILIATION OF FUNDS**
Total funds brought forward
889,966
**TOTAL FUNDS CARRIED FORWARD**
887,600|2023
Total
funds
£
36,086
6,904
34,282
41,186
(13,173)
(18,273)
908,239
889,966| |---|---| The notes form part of these financial statements Page 5 **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** ## **BALANCE SHEET 31 DECEMBER 2024** |||2024|2023| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**FIXED ASSETS**|||| |Investments|8|776,745|827,603| |**CURRENT ASSETS**|||| |Cash at bank||114,100|65,644| |**CREDITORS**|||| |Amounts falling due within one year|9|(3,245)|(3,281)| |**NET CURRENT ASSETS**||110,855|62,363| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||887,600|889,966| |**NET ASSETS**||887,600|889,966| |**FUNDS**|10||| |Unrestricted funds||887,600|889,966| |**TOTAL FUNDS**||887,600|889,966| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. V Henley - Trustee The notes form part of these financial statements Page 6 **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The financial statements have been prepared on the going concern basis as no material uncertainties exist regarding going concern. ## **Legal form** The charity is unincorporated and is registered in England and Wales with the Charity Commission. Its registered office is as shown within the Trustees Report. The presentational currency of the charity is pound sterling (£). ## **Significant judgements and estimates** The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Investments** Investments are included at fair value at the balance sheet date, with any gains or losses arising in the year being recognised in the statement of financial activities. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Page 7 continued... **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Financial instruments** Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. ## **2. INVESTMENT INCOME** |Investment income
Interest receivable
**3.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**4.**
**GRANTS PAYABLE**
Making Grants|2024
£
35,104
353
35,457
2024
£
7,509
2024
£
25,099|2023
£
35,668
418
36,086
2023
£
6,904
2023
£
29,665| |---|---|---| Page 8 continued... **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **4. GRANTS PAYABLE - continued** The total grants paid to institutions during the year was as follows: |2024
£
The Manna House Trust
1,000
Spencer Contact
1,000
MNDA
-
Northampton Saints Foundation
-
Daventry Contact
3,500
Northampton Street Pastors
5,000
St Giles Guides
-
Oakfield
-
Young Epilepsy
-
Sywell and Overstone PCC
-
Mount Pleasant Church
5,000
19th Northampton Guides
950
Meningitis Now
1,500
Epilepsy Action
1,000
Lighthouse Trust
4,000
22,950
The total grants paid to individuals during the year was as follows:
2024
£
Grants to individuals
2,149
**5.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Making Grants
3,624
1,644
Support costs, included in the above, are as follows:
2024
Making
Grants
£
Clerks charges
3,552
Interest payable and similar charges
72
Trustees' expenses
54
Independent Examiners fee
1,590
5,268|2023
£
6,000
5,000
4,000
3,000
3,000
2,500
2,165
2,000
1,000
500
-
-
-
-
-
29,165
2023
£
500
Totals
£
5,268
2023
Total
activities
£
2,990
82
33
1,512
4,617| |---|---| Page 9 continued... **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **Trustees' expenses** There were trustees' expenses of £54 (2023: £33) paid to 1 (2023: 1) Trustee during the year ended 31 December 2024. |**7.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|| |---|---|---| |||Unrestricted| |||fund| |||£| ||**INCOME AND ENDOWMENTS FROM**|| ||Investment income|36,086| ||**EXPENDITURE ON**|| ||Raising funds|6,904| ||**Charitable activities**|| ||Making Grants|34,282| ||**Total**|41,186| ||Net gains/(losses) on investments|(13,173)| ||**NET INCOME/(EXPENDITURE)**|(18,273)| ||**RECONCILIATION OF FUNDS**|| ||Total funds brought forward|908,239| ||**TOTAL FUNDS CARRIED FORWARD**|889,966| Page 10 continued... **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **8. FIXED ASSET INVESTMENTS** |**MARKET VALUE**
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023
There were no investment assets outside the UK.
Cost or valuation at 31 December 2024 is represented by:
Valuation in 2024
Cost
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals and deferred income
**10.**
**MOVEMENT IN FUNDS**
At 1/1/24
£
**Unrestricted funds**
General fund
889,966
**TOTAL FUNDS**
889,966|Listed
investments
£
827,603
544,236
(595,147)
53
776,745
776,745
827,603
Listed
investments
£
46,062
730,683
776,745
2024
2023
£
£
3,245
3,281
Net
movement
At
in funds
31/12/24
£
£
(2,366)
887,600
(2,366)
887,600| |---|---| Page 11 continued... **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **10. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|35,457|(37,876)|53|(2,366)| |**TOTAL FUNDS**|35,457|(37,876)|53|(2,366)| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/1/23
£
908,239
908,239|Net
movement
in funds
£
(18,273)
(18,273)|At
31/12/23
£
889,966
889,966| |---|---|---|---| Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|36,086|(41,186)|(13,173)|(18,273)| |**TOTAL FUNDS**|36,086|(41,186)|(13,173)|(18,273)| ## **11. RELATED PARTY DISCLOSURES** During the year a grant of £1,000 (2023: £6,000) was made to the Manna House Trust, a charity of which Mr K T Davidson is also a Trustee. During the year, clerks charges of £3,665 (2023: £2,990) were incurred by Harrison Clark Rickerbys Limited, a partnership of which V Henley is a salaried partner. Page 12 continued... **THE THOMAS AND ROSEMARY GREENHALGH CHARITABLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024** ## **12. ULTIMATE CONTROLLING PARTY** The charity is under the control of its trustees as listed within the Trustees Report. Page 13