I'HF. HEf*RIF,TtA ST. AP*DRF.M: CHARITY CHARITY RF,GISTRATION I%UhlBER 1163010 FINA￿'CIAL STATEMENTS FOR THF. YF.AR F.i%DF.D 31 OC"TOBER 2024 THE HEfiRIETT.4 ST. AP*DREII' CHARITY YEAR EN'DED 31 OCTOBF.R 2024 COYTF.NTS PAGE Charity Information Trustces, Rcport 3-6 Independenl Examiners Rcport lo the Trustees Balance Sheet Siatcment of Financial Activities Notcs to ili¢ Accounts 10-13 Appciidix Investments and incomc arising THE HEPIRIETTA ST. AliDREII' CHARITY C".HARITTr' INFORMATION. YF.AR F_JDF.D 31 OCTOBF.R 2024 Charity Information Trustces.. Mr R H A MacDougald Mrs O A Talbot Principal Address.. 77A Cheap Street Sh¢rbome Dorsei DT9 3BA Ac¢ouniants'. Lanham & Francis 77A Cli¢ap Strcci Shcrbornc Dorsci DT9 3BA Inves(mcnl Managers: Bordicr & Cic {UK) plc 23 King) Strecr St James's London SWIY6QY Page I THE HEf¥RIETTA ST. Af*DREW CHAIUTY CIIARITY INFORMATIOh' YEAR F.NDEI) 31 OCTOBF.R 2024 (continued) The teS￿¢r)A of the will creating the charity was Miss Anna Manin. The trust was creaied following thc death of Miss Manin in December 2013, and in accordance with the ternis slated in hcr Ivill dated 14 Novembcr 2003. Thc tcnms siatcd in the Will fonn ihe govcrning documcnts of the Trusi. The TrustLes' Dulics are outlined in Clause 5 of thc Will, and Ihc accompanying declaration dated 15 April 2015. The irust was registcred on 5 August 2015. Following th¢ death of Miss Manin. her esiaie was adminisiercd by her executors, who wcre sub8¢quenily thc same pcrsons as the trusiccs of Pclham Coun Music Foundation. Th¢ adniinisiration of the estate was compleied in Novembcr 2016. Under c.lause 5 of the Will, the I￿Stee$ were direcicd to hold (hc irusl fund upon trust to pay or apply thc income tliercof and %0 much of th¢ capiial thcrcof as (hcy shall from iimL 10 tiine tliink fil io oi. in fiirtli¢rance of such object or purpose being wholly chariiable according to ihc laws of F.ngland and Walc8 as they shall in thcir absolute diserciioii think fit. ThL. Tni%tcLs may in their discrction for thc period of 21 years from the date of death of Miss Manin instLad of applying tl)c incom¢ of ihe Cl)ariry in any year accumulate all or any part of such income at conipound inicrcst by invcstingi th¢ samc and the rcsulting incomc in any authoriscd investnients and hold the samc as io accrction io and as part of thc capital of the Charity Ii'iihoui prcjiidice 10 thcir rigThi to apply thc whole or any part of such ac¢iimulated iiieome in any subsequcnt ycar as if fhe saiiie wcre incoinc of the C"harity arising? in the samc year. In October 2020 Ihc Charity acquired the righ15 and obligations of an unpcrfomied coniraet in resp¢¢t of th¥ land and propcrry known as the Henricita Bam¢tt Field Study Ccntrc at Donh¢ad St. Andrciv. Complction of thc purchasc took place on 2 November 2020 at which point the charity acquired an intcrcst in the land and property concerned. (Sce ihe Trus￿¢$ Propcrty Noie beloii, for d lull aLCI)unl of Il)is projecl.) In Deeembcr 2020, a resolution was passed in ordcr to change tlie name of the Charity io The Henrietta Si. Andrcw Charity. Page 2 THE HENRIETTA ST. AINDREW CHARITY TRUSTF.ES' REPORT FOR THF. YE.AR ENDED 31 OCTOBF.R 2024 The TrLlS(ees present their report and ihe financial statements for the year ended 31 October 2024, which comply with cu￿en1 stdtuiory requirLmcniS and the trnst deed. Objectives and Activities The TrustLes were appointed by the will and subsequent dceds. The charity Was ¢Stabli5hcd lo provide fii)ancial contribuiionq to help charities to thnd speeific projects Ihal SUPPOrt their growth and charitablc aims. The tiilc of the Charity was Changcd from Pelham Couri Music Foundation io Hcnrictla Si Andrew Chariiy by way of & dced datcd 14 Decembcr 2020 to reflcet ihc main thrust of Ihc charity ar Ihdl (iinc, which is describcd below. HenriettA House The charity aequired the property kiiown as the Hcnriei¢a Barncti Ficld C.cntrc in 2020. The building was aLquired witli a vicw io furthcring the philanthropiL aciiviiics of rhe chariiy and proinoiing a projeit of piiblic bcncfit to Ilie community. The propLrty ha8 bccn prescrved, rcnoi'at¢d and converted to residential usc sincc acquisition using thc scrvices of archiiccts, cliartcrcd surveyors and building contractors. aliliough iliis was %ignifieantly hainpcrcd by thc imp4icI of thc Covid 19 pandemi¢. Aftcr a Icngthy pcriod of building works, and the sourcing of suitable tcnanis fulfilling ehariiablc aims, rental incoinc from ihc propcrty cominenced in Spring 2024. Governance And ManaRement TlILrc l)ave blcn ni) LliclllblL% 10 the I￿SteeS during the year. There must be al least two inlstces and thcy niust mcct at least once a ycar. In praciice they mect morc oftcn. During the year the charity has made chariiable donations aniounting to £8,215. In ihc pr¢vious ycar charitablc donations lotallcd £22,500. Tl)e C.harit) s Trustees have given duc regard 10 the Charity Commission's public benefit guidancc, to much approval from thc local coinmunity. Invcstment Poliev Thc portfolio ofinvcstmenis has continued to b¢ reviewed on ihe advice of retained financial advisors. The changes are detailcd in the notcs io the financial statements, iogether with (he rcspective costs of invcstmcnts. The investment5 held have been Mcquired in accordancc ivith the tNst decd. At 31 Ociober 2024 thc market value of the invcstmcnts hcld was £146,269. This compares with £275,935 at 31 October 2023, with holdings again havin8 bcen sold to continue the renovation of the propcrty known as the Henrietta Barneti Field Centre for charl￿b}e purposes. Page 3 THE HENI RIETTA ST. A￿'DRE￿, CHAIUTY TRUSTEES, REPORT FOR THF. I'F.AR ENDED 31 OCTOBER 2024 (continued) Financial Review The rcsulis for thc year show a deficit of £868.691 (?023 £29,922). At the year end the Charity had total funds amounting io £1,136.625 (2023 £2.005.316). Th¢ financial statements have been prepared using a valudlion of ihe charity's niain asscL Henrietia Housc, based on current use in accordance wirli the SORP. Howcvcr, tlic ITUStces have becn advised by a suitably qiialified Chanered Siirveyor Ihat the ijalue of Henrieiia Ilousc would bc significanily siiore tlian shoiyn in ihcse accounis if prcsentcd CO￿tel]Y to thc markctplace. {Se¢ Property Note below for a fuller accouJ)i of the mait¢r.) Property Note IHenrietiA House) Foi. Lll)d¥r a dicdcIL tlIL Ll)arity was a conventional grnnt making charity providing assistancc to a varicly of small charitable causcs. In 2020 Covid-19 stwck, and applications for assistance decrcased markcdly as aciivity across thc ounlry was hampcred by lockdown. Ai roiighly the same time, il camc to ihc attention of tlie Iwstces that a building known as tliL Hcnrictta Barnltt ficld Ccntrc in Donhcad St Andrcw was aErt)ut to bc auctioncd. Thc building was di%uscd and dilapidi11cd bul was originally a b¢auiiful Victorian villa8c Scliool Hou4c which liad lattLrly bLcn o¢casionally u.4Ld by gil'ls from tl)c nortli London 14cnriciia Ilarnclt School nained aftcr thc grcai 19, Ccntury philanthropi51 and social refomicr. No girls had visited for many years and the building had fallen into disuse. Nevertheless, in Ihe words of Ihe planners, the building ivas'noi listed but considcred an undesigyiiatcd h¢rit<1g¢ a55et" It wa5 ai the heart of the Donhead St Andreiv Collservaiion area which ilself lies in (he AONt3 known as Cranbornc Cl)asL. Given ihc shortagc of affordable homes boih nationally and locally, and given rhc impcrativc to prcs¢rvc wherc possible physical assets Considered io be of heritage valuc, thL trustc¢s considcred thai a project of prcscrvation, resloration and convcrsion to affordablc dwellings to bc a worthwhile projccl deserving of thcir voluntary efforts and the rcsources of ihc charity, which wer¢ noi b¢in¥ put to 8ood usc owing to lockdown. Informal consultstion at this time look place iviih thc Parish Council and PCC St Andrew's Church, both of whom were very positive and commended the irustces for Ihcir efforts. The trustees however wcre mindful of their rc5ponsibilitics and asked for the assistance of Jackson Stops, Charicrcd Surveyors. lo assist them in the pur¢liase and dcvclopmcnt of Ilie building. Julian Bunkall, FRICS, of Jackson Stops advised boih on the aLlCtion and on a subscquent insurance valiiation. The irusrcLS employed Ruttcr & Rulter solicitors (Roger Snowdon) having successfully bid at auction online on I I Septcmb¢r 2020, and exchangcd contacts on 5 Ociober 2020. Completion was set for 2 November 2020. Page 4 THE HENIUETTA ST. A￿DREw CHARITY TRUSTF.F.S' REPORT FOR THF. YF.AR F.f*DED 31 OC'.TOBF.R 2024 (continued) Property Note (Henrietta House) (continued) The tNsices then considered how the project should bc actively pursued and after some consideration of po8siblc profeqsionals wilh suiiable cxpenise dceided io appoini Classic Archiicciure. of Wilion, who were well known in the arca for ihougyhiful and sympathetic conversions of listLd buildingys, including the busincss of obtaining relevant planning conscni. This last maiter was taking soii)c timc at tl)at stagc due to Covid-19 lockdowns continuing io conli'ibuie to delays. How¢ver, a helpful prc application lettcr in June 2021 pavcd the for full planning conscnt in January 2022. While tlie planning7 discussions wcrc taking placc, thc arehitccts organiscd thc tendcr pro¢ess for Ihc building ivork. and finally recommcTbdcd Ilillway Ibuildcrs) to ihe trustees for the woi'k io be conducl¥d; th¢ choice was dictsicd partly on girounds of rclci'ani cxpcrience of siiiiilL2r unusual projccis, ancl partly on gTroundq of price. on whicl) Millii'ay th'ero prcpared to bc compL(iliVL despite severe difficultic.q in thc markcl caused by a nuinbcr of faciors including both Lovid-19 31id Ihc invasion of Ukraine in FLbruary ?022. F in