**Charity Number: 1169414**
## **THE HETTON CHARITABLE TRUST FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2023**
**REGISTERED AS A CHARITY UNDER THE CHARITIES ACT NO. 1169414**
## **GRAVITA BUSINESS SERVICES LIMITED Chartered Accountants**
**Finsgate 5-7 Cranwood Street London EC1V 9EE**
## **THE HETTON CHARITABLE TRUST FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2023**
||**Page**|
|---|---|
|Trustees’ report|1 – 2|
|Independent examiner’s report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to the accounts|6 - 9|
## **THE HETTON CHARITABLE TRUST FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2023**
## **Trustees**
## **Charity Registration Number:**
Investment Advisors
## **Accountants**
## **Solicitors**
Saul David Biber Marsha Biber 1169414
Evelyn Partners 45 Gresham Street London EC2V 7BG Gravita Business Services Limited Chartered Accountants Finsgate 5-7 Cranwood Street London EC1V 9EE United Kingdom Thomson Snell & Passmore LLP Heathervale House 2-4 Vale Avenue Tunbridge Wells Kent TN1 1DJ
**THE HETTON CHARITABLE TRUST TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 5 APRIL 2023**
The Trustees present their report and accounts for the year ended 5 April 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s Trust Deed, the Charities Act 2011 and the Statement of Recommended Practise: _Accounting and Reporting by Charities,_ preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) issued on 16 July 2014. The report takes account of the requirement for Trustees to report annually on public benefit and the Trustees have had regard to the Charity Commission’s guidance on public benefit.
## **Structure, Governance and Management**
The Hetton Charitable Trust is an unincorporated trust and was constituted by a Deed of Trust dated 26 May 2015, and is a registered Charity number 116944. It is registered at Finsgate, 5 – 7 Cranwood Street, London, EC1V 9EE. The Trust commenced its activities in March 2017.
The Trustees are appointed by the Settlor for an indefinite period. The Trust Deed dated 26 May 2015 provides for two individual Trustees.
At the initial Trustees’ meeting, the Trustees agreed the broad strategy and areas of activity for the Charity, including consideration of the making of donations and sponsorships. The day to day administration of the Trust is carried out by the Trustees.
The Trustees who served during the period under review were:
Saul David Biber Marsha Biber
## **Risk Management**
The Trustees are of the opinion that there are no material risks, due to the nature of the Charity.
## **Objectives & Activities**
The objectives of the Foundation are to advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time.
The Trustees must use the income and may use the capital of the Charity in promoting the objects, but no part of the property and funds of the Charity may be used for the benefit of the settlor or any spouse or civil partner of the settlor.
The Trust is and unrestricted Trust.
## **Review of the Year’s Activities**
During the year, the Charity made donations and sponsorships totalling £63,892.
## **Public Benefit**
The Charity’s aims were carried out for the public benefit which was achieved through making donations and sponsorships. During the year the company made a number of donations, varying in size from £100 to £25,000. The only Donation in excess of £10,000 was made to Israel Guide Dog Centre (£25,000).
## **Reserves**
The trustees maintain a sufficient level of reserves to ensure that the Charity can achieve its objectives. There are no plans to change this strategy in the future. At 5 April 2023 the reserves of the Charity were £4,455,626.
1
THE HErroN CHARITABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 6 APRIL 2023
Icontinu8d)
R•¢rultrn•nt & training of tntst•es
No policies have been adopted for the frtment and training of trustogs. as these are not nocessary
to fulfil the aims of the charity.
P¢)st b4lanM sh••t •v•nts
There are no post balan(* sheet events of note.
Tntst••s R•spgnslblllll•s In R•latloTh to th• A¢wJnts
Law applubk to Trustees in England and Wales requires the Trustees to prepare acojunts for each
financtal year whth give a true and fair view of the Charity's finanal activities during the year and of
its financial P)sitn at Ihe end of the year. In preparing the accounts. the Trustees are required to..
select Suitab accounting poIleS and then apply them consistenty..
observe the rthOdS and prinaples of th8 Charthes SORP.,
ke judgments and estimates that are Teasonable and prudent..
.stat• whether applicable accounting standards have boan folkxvèd, subject to any material
departures disclosed and explained in lh8 ac£ounts; and
prepare the accounts on the going concern basis unl8ss it i8 inapFJropriate to wesum& that the
Charity will continue in operation.
The TNstees are reswnsibl8 for keeping acccMJnting records Wh disdose with reasonable aecur
the financial posiknon of the Charity and enable them to ensure that the aco)unts c¥¥nply with the
Charities Act 2011. the Charity {Accounts and Reports} Regulats"on 2008 and the provision of the trust
de&1. They are also responsib for safeguarding the assets of the Charity and hence taking reasonab
steps for the prevention and detecth)n of fraud and other irregularities. The Trustees are resp)nsiblg
for the maintenaTh% and integnty of the Charity.
)provad by thè Trustees and signed on their behalf by..
Saul Davhj Biber
16 Dec•mb¢r 2024
## **THE HETTON CHARITABLE TRUST**
## **Independent examiner's report to the Trustees of The Hetton Charitable Trust**
I report to the trustees on my examination of the accounts of the Hetton Charitable Trust (the Trust) for the year ended 5 April 2023, which are set out on pages 4 to 9.
## **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 Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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.
## **Filiz Zekia**
## **for and on behalf of Gravita Business Service Limited Chartered Accountants**
## `24 January 2024`
Finsgate 5-7 Cranwood Street London EC1V 9EE
…………………………………..
3
## **THE HETTON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 5 APRIL 2023**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**Funds**|**Funds**|
|||**2023**|**2022**|
|||**£**|**£**|
||**Notes**|||
|**INCOMING RESOURCES**||||
|**Investment Income**||||
|Bank interest receivable||2,263|657|
|Interest on Treasury deposits||286|7,492|
|Dividends received||56,437|55,182|
|**Total incoming resources**||58,986|63,331|
|**RESOURCES EXPENDED**||||
|Charitable donations||(63,892)|
(47,021)|
|**COST OF GENERATING FUNDS**||||
|Administrative costs|**3**|(25,312)|
(25,867)|
|**Total resources expended**||(89,204)|
(72,888)|
|**Net operating expenditure before fair value adjustments**||(30,218)|
(9,557)|
|Profit/(Loss) on disposal of investments||26,583|(31,418)|
|Fair value adjustment in respect of investments||(297,788)|
252,909|
|**Net operating income**||(301,423)|
211,934|
|**Fund balances brought forward**||||
|**at 6 April 2022**||4,757,049|4,545,115|
|**Fund balances carried forward**||4,455,626|
4,757,049|
|**at 5 April 2023**||||
All amounts relate to continuing activities.
All recognised income and expenditure are included in the financial activities which show the total net movement in funds for the year.
4
THE HErroN CHARrrABLE TRUST
BALANCE SHEEr
AS AT 6 APRIL 2022
2022
2W21
Cash at bank and in hand
Investments
Other debtors
Accrugj interest
675.404
3,697,270
92.598
51
743,286
3.956.429
67.162
11
4.465.323
4.766.888
cred110. amounts falling du•
wlthln on• y•ar
(9,697)
{9,839>
4,455.626
4.757.049
TotAI n•tAlablllti•s ass•ts
4.455.626
4,757,049
Funds and R•s•rv•s
Unrestricted ftjnds
4.455.626
4,757,049
Total Ch•rlty Funds
4.455.626
4.757,049
Approved by the 8oard of Tte$ and sKJn&J on its behaw.
Il
Saul Davmj Biber
Mars
211
2024
**NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 5 APRIL 2023**
## **THE HETTON CHARITABLE TRUST**
## **1. Accounting policies**
## **1.1 Basis of preparation of accounts**
The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) issued on 16 July 2014 and the Charities Act 2011.
The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **1.2 Income recognition**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised once received.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.
## **1.3 Expenditure recognition**
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 settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attached to that grant is outside of the control of the Charity.
6
**NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD ENDED 5 APRIL 2023**
## **THE HETTON CHARITABLE TRUST**
## **1.4 Financial instruments**
The Charity has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
## _**Short term debtors and creditors**_
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 in ‘administrative expenses’.
## _**Cash and cash equivalents**_
Cash and cash equivalents comprise cash at bank and in hand.
## _**Offsetting**_
Financial assets and liabilities are offset and the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Charitable activities**_
Cost of charitable activities comprises grants made.
## _**Governance costs**_
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to statutory audit fees together with other overhead costs.
## _**Funds structure**_
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to statutory audit fees together with other overhead costs.
Restricted funds are funds which are to be used in accordance with specific restrictions
imposed by the donor or trust deed.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed.
7
**NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 5 APRIL 2023**
## **THE HETTON CHARITABLE TRUST**
## **2. Taxation**
The Hetton Charitable Trust is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
|**3. Administrative costs**
Audit and accountancy fees
Investment management fees
Legal and professional fees
Financial transaction tax
**4. Employees**
The Trust had no employees during the year (2022 – Nil).
**5. Cash at Bank**
Bank deposit accounts
**6. Investments**
Managed securities at market value
**7. Other debtors**
Cash balance held by fund manager
Balance held by Smart Giving||**2023**
**£**
4,620
19,992
700
-
25,312
**2023**
**£**
675,404
**2023**
**£**
3,697,270
**2023**
**£**
81,360
11,238
92,598||
|---|---|---|---|
|||||
8
## **THE HETTON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 5 APRIL 2023**
|**8.**|**Creditors - Amounts falling due within one year**|||
|---|---|---|---|
|||**2023**|**2022**|
|||**£**|**£**|
||Other creditors and accruals|9,697|9,839|
## **9. Trustees remuneration**
The trustees received no emoluments or reimbursement of expenses (2022 – Nil).
9
THE HErroN CHARITABLE TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 6 APRIL 2023
Icontinu8d)
R•¢rultrn•nt & training of tntst•es
No policies have been adopted for the frtment and training of trustogs. as these are not nocessary
to fulfil the aims of the charity.
P¢)st b4lanM sh••t •v•nts
There are no post balan(* sheet events of note.
Tntst••s R•spgnslblllll•s In R•latloTh to th• A¢wJnts
Law applubk to Trustees in England and Wales requires the Trustees to prepare acojunts for each
financtal year whth give a true and fair view of the Charity's finanal activities during the year and of
its financial P)sitn at Ihe end of the year. In preparing the accounts. the Trustees are required to..
select Suitab accounting poIleS and then apply them consistenty..
observe the rthOdS and prinaples of th8 Charthes SORP.,
ke judgments and estimates that are Teasonable and prudent..
.stat• whether applicable accounting standards have boan folkxvèd, subject to any material
departures disclosed and explained in lh8 ac£ounts; and
prepare the accounts on the going concern basis unl8ss it i8 inapFJropriate to wesum& that the
Charity will continue in operation.
The TNstees are reswnsibl8 for keeping acccMJnting records Wh disdose with reasonable aecur
the financial posiknon of the Charity and enable them to ensure that the aco)unts c¥¥nply with the
Charities Act 2011. the Charity {Accounts and Reports} Regulats"on 2008 and the provision of the trust
de&1. They are also responsib for safeguarding the assets of the Charity and hence taking reasonab
steps for the prevention and detecth)n of fraud and other irregularities. The Trustees are resp)nsiblg
for the maintenaTh% and integnty of the Charity.
)provad by thè Trustees and signed on their behalf by..
Saul Davhj Biber
16 Dec•mb¢r 2024
THE HErroN CHARrrABLE TRUST
BALANCE SHEEr
AS AT 6 APRIL 2022
2022
2W21
Cash at bank and in hand
Investments
Other debtors
Accrugj interest
675.404
3,697,270
92.598
51
743,286
3.956.429
67.162
11
4.465.323
4.766.888
cred110. amounts falling du•
wlthln on• y•ar
(9,697)
{9,839>
4,455.626
4.757.049
TotAI n•tAlablllti•s ass•ts
4.455.626
4,757,049
Funds and R•s•rv•s
Unrestricted ftjnds
4.455.626
4,757,049
Total Ch•rlty Funds
4.455.626
4.757,049
Approved by the 8oard of Tte$ and sKJn&J on its behaw.
Il
Saul Davmj Biber
Mars
211
2024