REGISTERED CHARif¢ NUMBER: 1172474 REPORT OF THE TRUSTEES ANO FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 December 2023 FOR THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARITY (• Charltabl• Incarpor•t•d Oryanlsat5onl
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHAR QNTENTS OF THE FINANCIAL sfATEMEPUS FOR THE YEAR ENOED 31 December 2023 Pale Report of the Trustees 3to8 Independent Examinerfs Report Statement of Financial Actlvltles io Balan Sheet li Notes to the Flnan¢lal statements 12to19
THE WORSHIPFUL COMPANY OF HACXNEY CARRIAGE DRIVERS CHARITY REPORT OF THE TRUSTEES FOA THE YEAR END£D 31 December 2023 The Tru5ttès prèsent their report with the finantial statements of the Charity for the year ended 31 December 2023. The Tru5tee5 have adopted the provisions of Accountin8 and Reporting by Charities.. Statement of Recornrnènded Practlce applicable to charities preparin8 their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republlc of Irdand IFRS 1021 leffectNe l January 20191. OBJECTIVES AND ACTIVITIES Oblertlve5 and alms os and aim The Worshlpful Company of Hackney Carrla8e Drivers Charity. objerti¥e5 and alms un be summarlsed as follows. To admlnlster benevolence when approprtate to members of the Worshipful Company of Hackney Carrla8e Drivers, retlred members, and widows or widowers of members. To organise a Magical Taxi trip for the benefit of children with lrfe threatening diseases to Dlsnewand, Parls In a convoy of taxis, which trip is to be seM.funding by donations or sponsorship a5 far as is practical. To support the charttable work of the Worshlplul Company of Hackney Carrla8e Drl¥ers, its afflllated schools and military unlts. To make 8rants, award5 and donatlons to any tharlty In¢ludin8 the nomlnated charlty of the Lord Mayor of the city of London. To support other Hackney Carrbaie Trade Charities to our best endeavours. En rln our work d Ilvers ur aim We revlew our alms, oblectlves and actlvltles each year. Thls revlew looks at what we achleved and the outcomes of our work In the prevlous 12 months. The review looks at the success of each key actlvlty and the benefftts they have brou8ht to those 8roups of people we are Set up to help. The review •lso helps us to ensure that our aim, objectives and actlvltles remained focused on our stated purpose5. We have referred to the guidance contained in the Charity Commission'5 general 8uldan¢È on publ1¢ beneflt when revlewln8 our aims and oblectlves and in plannin8 our future aetrvities. In particular, the Trustees consider how planned actlvltles w511 contrlbute to the alms and obiedl¥es they have set. The focus of the Charlty's Wofk cont1nu primarity to be the or8anisatTron of an annual Magical Taxi Tour for Children. The Charity was able to organise a sucte55ful 28 Magical Taxi Tour for Children in 2023 after havin8 to suspend the trlps In 2020 and 2021 due to 8ovefnment restritiions imposed during the Coronavirus pandemlc. The NHS Llvery Kft¢hen project came to a natural conclusion In 2022 wh the lfftin$ of the restrlctlons Imposed durlng the Coronavirus pandemic. The Trustees have pald due regard to guidance issued by the Charity Commisslon In decldlng what actlvltles the Charlty should undertake.
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2023 STRATEGIC REPORT A¢hle¥ement and perfomi•n¢e Choritoble activitie5 Howo r attivities deliver ublic benefi In settin8 our objettives and planning our activities the Trustees have 8iven careful con5ideratlon to the Charlty Commlssion's 8eneral guldance on public benefrt, includlng the Buidance on public benefit and fee chorging. Our main artivities and who we try to help our descrlbed below. The Charlty's actlvitles continue to focus on our ablllty to provlde support to charitable activities undertakèn wlth the Worshipful Company of Hackney Carrla8e Drlvers. XIT rf rchll The annual Matital Taxl Tour for Children normalty tskes pce In September each year. The complexity of thls tvent and the fund raising to finance it require5 lon8 ttm advanced plannin8 over many months. The 2020 and 2021 Ma8lcal Taxl Tours were cancelled because of the Coronavirus pandtmlc,. cllnlcally vulnerable Chlldren could not be put at rlsk, the NHS and London Ambulance Servl¢e were under Immense pre55ure and there was travel ban in pla¢e whleh prevented thls event from runnin8. It was therefore a pleasure to be able to wel¢ome the ¢hildren batk onto the 2022 and 2023 Magical Taxi Tours with many new drlvers taklng part for the first tlme. However. the costs of runnin8 ihis tour have Increased slgnlficantty and the Charity is se*klng increased sponsorship to 5ecuTe the fvture vlabllity of the event. The Charity 15 proud of the 5UPPOrt that it provides to other C4b Trade Charltles, The Clty of London and our afflllatlons with the 20, Trin5PQrt Squadron Royal Logistics Corps. thè Royal Naval School of Fll8ht Deck Operations, 504 Squadron Royal Auxlllary Alr Force and the Royal Docks Communlty School. TheTrustees wlsh to record thelr appredatlon toallofthe many supportersof the Charity and especiallytothe members of the Worshlpful Company of Haekney Carriage Divèrs livery company for their continuing hard work and dedication to our purposes and we look forward with Confidence to ¢ontlnuin8 our work in the future.
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 De¢ember 2013 STRATEGIC REPORT Flnandal revlèw Finoncitsl position The Statement of Financial Artlvtiie5 show5 total Income for the year ended 31 December 2023 of £433,35912022 - £291,15n and total expenditure of £389,38312022 £332.308) thereby increasing by £43.97612022 - reducing by £41,151) the Charity'5 total funds as at 31 Oecember 2023. There were unreallsed galns on Investmènts as at 31 December 2023 of £6.60712022- unreoli5ed 10$5es of E13,3131. There h35 been a net cash inflow durin8 the year ended 31 Orfember 2023 of £40.782 f2022. netcosh outy7ow tott711ing £38,220) and at the year end the Charty had £413,07912022 - £372.19TI of cash balancès Ilncluding term deposits) available to meet Its day.to.day operatlonal requlrements. The total funds retslned In the balance sheet as at 31 December 2023 amounted to £485,06212022- £434.4791. Reserves polky The actlvltle5 of the Charlty, partIculaT the Ma8kal Taxl Tour for Chlldren. requlre advance plannlng over several year5 which Create slgnificant contingent financial liabilities for future c05t5. The reserves pollry of the Charrty Is to maintaln sufficlent Ilquld reserves, in either restricted or unrestrl¢ted funds. at a level whlch equates to between two and three years of total èxpenditure in a normal year. Golng Concern No matters have come to theattentlon ofthtTrustees which might suggestthat the Charty wlll not be abl to malntaln Its current actlvltles for the foreseeable future. The Trustes have, therefore. considered that It is approprlate for the financlal statements to be prepared on the 8olD8 concern bay> Future plans The endlng of the Coronavlrus pandemlc restrrrtlons allowed the Charlty to reinstate the Ma8ic•I Taxl Tour for Children In both 2022 and 2023. Plans are well advanced for the 2024 trlp io Dlsneyland Parls. The Charlty wlll contlnue to monltor closely the Coronavirus sltuation and respond approprlately to any changes that may arise. The Charlty ¢ontinuÈs to support individual London Taxi OrNers whose arè sufferln8 financlally and to be avallable to or8anise and partlclpate In other forms of support to the City of London. STRUCTURE, GOVERNANCE ANO MANAGEMENT Governlnl docurntni The Worshlpful Company of Hackney Carria8e Drivers Charlty Is a Charltable Incorporated Organlsatlon Ire8lSteTed number 11724741. The Charity 1$ 8overned by a trust deed dated 27th August 1996, a variation deed dated 1° February 1999, and a further variation deed dated 20 Detember 21)J7. The Charlty converted into a Charitsble Incorporated Or8anisation on yh April 2017 having adopted a new con5triution on 8 December 2016. The Charity is Independent governed by bts Trustees thTOU8h the 8tsard of Trnstees who are Members of The Worshipful Company of Hackney Carria8e Drivers, which is a Clty of London livery company.
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2023 sTRUURE, GOVERNANCE ANO MANAGEMENT Govemlni document Icontlnuedl All Trustee5 Of the Charity are Members of the Charity and there are no other Trustees or Members. No Trustee or Member has any benenclal interest in the Charlty. Trustees and Members not requlred to contrlbute to Its assets in the event of the Charity being wound up. Re¢rUItm* and appolntment of new trustees The Court ofthe Worshipful Company of Hackney Carriage Dri¥ersappointsthe Tru5teesvthoare admitted as Members. As Set out Sn the Charlty's Constltutlon one-thlrd of the Trustees shall fetlre and seek re-elertlon at every Annual General Meetlng. Each Trustee may serve for renewable terms of three years up to a maximum of 12 years. service In total. A Member shall Cease to be a Member immediatety that they cease to be a Trustee of the Charlty for any reason. All Trustees glve thelr time voluntarily and re¢elve no benefits from the Charlty. Any èxpenses reclalmed from the Charlty are set out In the note5 to the financlal statemen Ory•nls•tloTh•l rtru¢ture The Charltyls organi5ed 50 that Its Board of Trustees meet regularly to manage Its affairs and formulate pollcy. Two Trustees are appointed by the Board of Trustees io be responsible for the day-to-day runninB and fln•nclal management of the Charity- The Honorary Treasufer is resnSIble for the preparatlon of the annual a¢countS. Durln8 the year ended 31 December 2023 the Charity has contlnued to adhere to the Charlty Governance Code for Smaller Charltle5 uslng the Code's seven key princlples as a tool to support the contlnuous Improvement of Bood governance. Inductlon •nd tr•lnln8 ol n•w Irust••s New Trustees undergo an Induaion meetlngto brbel them on legal oblliation5 under ¢hirlty law, the Charlty's declslon- making processes and the recent financial performance ol the Charlty. Trustee5 are en¢oura8ed to attend approprlate external tralnlni events where these will facilitate the understandin8 of their role. Key manaiement rnmun•ratlon In the Trustees, oplnlon. the key management personnel of the Charity responsible for the dlrertlon, control, runnlng and operation of the Charity on a day-to-day basis consists of the Board of Trnstees. mana ement rsonnel- Trustees All Trustees glve of thelr tlme freely and no trustee received remuneration durin8 the year. Detalls of Trustees. expenses and related partytransactlons are dSsclosed In notes 17 and 18 to the financial statements. Rlsk manag•m•nt The Trustees have a duty to identify and VIeW the risks to which the Charlty Is exposed and to ensure approprlate contro15 are in place to provide reasonable assurance against fraud and error. The Trustees have examined the major strate8io busine55 and operational risks that thè Charity faces and conflrm that systems have been established to enable regular reports to be produced so that necessary step5 can be taken to Itssèn these rlsks.
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE ORIVERS CHARITY REPORT OF THE TRUSfEES FOR THE YEAR ENDED 31 DKember IOZJ REFERENCE AND ADMINISTRATIVE DETAILS Reilstered Charlty numb•r 1172474 fie81stered offk• PO Box 2113 Chi8well Essex IG7 680 Trustees Mlchael Davles Phillip Davis Peter Johansen MBE FCA Danlel Heath Malcolm Llnskev Sllverlo Olivelra Alan Rou8han Wendy Sorrell Chalr Secretary Honorary Treasurer Independent Ex•mln•r Andrew Hall Chartered Management Accountant Chalfoni Atcountlrg Servkes Llmlted 12 The Grove Latimer, Che5ham Buckln8hamshlre HP5 IUE B•nkefS Nat West Bank Clty of London Branch Prlnces street London EC2R 88P Barclay5 Bank PLC Bedford Row Branch Lelcester Leicestershlre LE87 2BB United Trust Bank l Ropemaker Street London EC2Y 9AW Union Bank of India IUKI Ltd Senator Htsus 85 Queen Virtorla Street London EC4V 4AB Cambrldge & Countles Bank Hamp5hlre Trust Bank Charnwood Court S5 8ishop4ate 58 New Walk London Leltèster EC2N 3AS LEI 6TE Redwood Bank 101 The Nexus Bulldlng Broadway Letchworth Garden City SG6 3TA Investment Manayrs CCLA Investment Senator House 85 Queen Vlctorla Street London EV4V 4ET
THE WORSHIPFUL COMPANY OF HACKP4EY CARRIAGE DRIVERS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 December 2023 STATEMENT OF TRUSTEES RESPONSIBILITIES The Trustees (who are also Member5 of The Wofshipful Company of Hackney Carriage Drivers Charity) are re5ponslble for preparing the Report of the Trustee5 and the financial statements in accordance with applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepte(l Ac¢ounting Pfacticel, includlng Financial Reporting Standard 102 "The Finantbal Reporting Standard applicable in the UK and Republic of Ireland" Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state ol affairs of the Charitable Company and of the incoming resources and applicatlon of resource5, including the income and expenditure, of the Charitable Company for that peri¢xl. In preparin8 those financial statement5, the Trustees are required to.. select suitable accountint policies and then apply them Conslstently: observe the methods and prin¢ipl¢s in the Charity SORP,. make jud8ements and estimates thai are reasonable and prudent- state whether applicable accounting standards have been followed. 5ubjertto any material departures disclosed and explained in the financial statements.. prepare the financial stotement5 on the going concern basis unless It Is Inapproprlate to presume that the Charitable Company will continue in business. The Trustees art re5pon51blt for keeplng proper atcountlng records whlch dlsclose wlth rèasoftable accuracy at anv Ilme the flnan¢lal posltlon of the Charltable Company. They are also responsible for safeguardlng the assets of the Charitable Company and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregularities. In $0 far as the Trustees are aware.. there Is no relevant Informatlon of whl¢h the Charltable Company's Independent Examiner Is unaware,. and the Trusteès havt takèn all step5 that they oughi to have taken to make th•mstlves aware of any relevant Information and to establish that the Independent Examinei is aware of that information. Independent Emamlner The Independent £xaminer, Andrew Hall, will be Proposed for re-appointment by the 8tsard of Trustees at thelr next meeting. Thls report h45 been prepared in accordance wlth the provlslons of the requirements of the Charltles SORP IFRS 1021 for smaller charities. Th epo nd si f the Trustees, incorporating a strategic reporL was apprtsved by ordèr of the Board of Trusttes. on 29 July ned on the 8oard's behalf by- Michael Davies- Trustee
INDEPENDENT EXAMINERS'S REPORTTO THE TRUSTEES OF THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARITY (REGISTERED NUMBER: 11714741 Re5POn51bllltles and basls ol report I report to the Trustees ofThe Worshipful Company of Hackney Carriage DrNers Charity (the Yrust'l on my examination of the accounts for the year ended 31 December 2023 which comprise thè Statement of Financial Artivltles. the Balance Sheet. and notes to the financial statements. includlng a summary of 518nificant accounting policie5 as set out on pages 12 to 14. As the Charltvs trustee5. you are re5ponsiblÈ for the preparation of the accounts in accordance with the requlrements of the Charltles Act 2011 Iyhe Acfl and you ¢onsldÈr that the audlt requirements of Part 8. Chapter 3 of the A¢t does not app. I report in respect of my èxamlnatlon ol the Trust's accounts carrled under section 145 of the 2011 Act and In carryln8OUt myexamlnation, I havefollowd all th• applieabbe Dlrertions8iven byth Charity Commission under sertion 14515llbl of the Art. Independent Eumlnerfs sMment I have completed my examination. I confirm that no material matters he come to my attntlon In connection with the examinatlon whlch Blves me cause to believe that in •ny material respect- the accountlng records were not kept In accordance wlth seak)n 130 of the Charltle5 kt.. or the accounts did not accord with the accounting rtords- Of the accounts dld not comply wlth the appllcable fequlrements concerning the lorm and content of accounts set out In the Charltles (Accounts and Reports) Re8ulatlon 2C¥)8 other than any requlrement that the accounts 8lve o.true and fairt view whlth is not a matter considered os part of an indtpendent examination. I have no concerns and have come across no other matters In connertlon wlth the examlnatlon to whlch attentlon should b n In thls rèport In order to enable a proper understandln8 of the accounts to be reached. Andrew Hall Chartered Mana8ement Accountant Challont Accountin8 Services Llmited 12 The Grove Latlmer, Chesham Bucklnghamshlre HPS IUE 29 July 2024
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHAltirY STATEMENT OF FINANCIAL AcTrvmES (INCORPORATING AN INCOME AND EXPENDITURE AccouKn FOR THE YEAR ENDED YI December 2023 2023 Unre#rkd Restrkled Tot•1 funds Iv¥1 fvnds Olsney fund 2022 Total funds Nth INCOMING RESOURCES Income from: Donations and le8acles Other tradln8 aCtlvitie5 Investment Income Totsl Incomlni resOUrteS 765 6.025 6.324 13.114 393.625 19,199 7021 420,245 394Ag0 25.224 13.745 433.359 268,550 15.126 7.481 291,157 RESOURCES EXPENDEO Expendlture on- Rai5in8 funds Charitable activities Support and governance costs Tot•1 resources expefided 2J95 25.162 532,149 26,472 381,783 26,057 J36.787 26.539 389,383 12,818 301,722 17,768 332,308 67 NET IEXENDITUREIIINCOME BEFORE INVESTMENT IL055E5IIGAIN5 Net Ilossesll8alns on Investments NET IEXPENDITUREIIINCOME 5514 6.607 12,121 38A61 43,976 6,607 $0,583 141,1511 13.313 154,4641 38A62 OTHER RECOGNISED GAINSIILOSSES) NET MOVEMENT IN FUNDS 38,462 50,583 154,4641 RECONCILIATION OF FUNDS Total lunds brought forward l January 2023 Tffj•l fvnds t•rrI forw•rd JI Oe¢mber 202> 156 168.961 277,639 316.101 434,479 485.062 488,943 434,479 io
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARITY IREGISTERED NUMBER: 11724741 BALANCE SHEET AT 31 December 2023 2023 Totsl funds 2022 Total fund5 Unre5trlcted 8eneral funds Restrlcted Dlsney fvnd Nrte FIXED ASSETS Heritage assets Investments Total Flxed Assets 11.369 110,894 122,263 11.369 110,894 122.263 11.369 104.286 115.655 CURRENT ASSETS Stocks Debtors Investments Cash at bank and in hand Total Current Assets io li 12 13 82.960 14.078 176.477 139,564 259.437 153,642 414,079 251.240 121,057 373,297 CREDITORS: amounts fallin8 due within one y*ar 14 1,280 4,473 NET CURRENT ASSETS %,698 316.101 412,799 368,824 TOTAL ASSETS LESS CURRENT LIABILITIES 118.961 316.101 535,062 484,479 CREDITORS: amount5 fallln8 due after one year 15 50,000 50,(M)O TOTAL NET ASSETS J16.101 485.062 434,479 FUNOS OF THE CHARITY Unrestricted 8eneTal fund Restricted Disney Fund TOTAL FUNDS 1fj8.961 168,961 316,101 485,062 156.840 277.639 434.479 316.101 316.101 168.961 Thesè financlal statements ha btèn prepared in accordancè with the provlsions applicable to charitable companies subject t the smallèr companiès. regime. Th financi statements were approved by the Board of Trusttts on 29 Juty 2024 and were signed on its behalf by: Michael Davies- Trustee PetPr Johan5 MBE FCA- Trustee li
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE ORIVERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 t>e(ember IOZJ ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS General Infoimatlon The Worshipful Company of Hackney Carrbage Drivers Charity is a charlty Incorporated In England and Wales (Reglstered Charity Number 11724741. The address of the Charity's re8iStered office is PO Box 2113, Chigwell, Essex. IG7 6BP. Ac¢ountlno con¥entlon The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared In accordance w6th the Charltles SORP IFAS 1021 "Accountin8 and Aeportlng by Charlties.. Statement Df Recommended Pra¢tl¢e applltablè to charities prepaTiD8 their accounts in accordance wlth the Financlal Reportin8 Stondard applitable in thè Unlted Kingdom and Republi¢ of Ireland IFRS 1021 leffective I january 20191" Flnancial Reportin8 Stondard 102 'The Financial Reportin8 Standard applicable in tht UK and Republlc ol Ireland" the Companles Act 2(X)6 and tht Charities Act 2011. The flnanclal statements have been prepared uslng the hlstorlc cost conventlon and are presented In sterlln& which is ihe fundional currency of the Charity, rounded to the nearest £1. The sl8nlflcant a¢countlne pollcles applled In the preparatkjn of thest financlal staternènts are set out below. Thest pollcles have beèn conslstently applled to all yeafs presented unless otherwise stated. CHARITY STATUS The Chorlty 15 a Chèrltable Incorporated OrganlsatSon. The Members of thè Charlty are the Tru5tee5 named In the Report of the Trustees. In the event of the Charlty being wound up the Members have no Ilablllty to contrlbute to Its assets and no personal responsiblllty for settllnq its debts and liabllltlts. GOING CONCERN The flnanclal statements have been prepared on a golng concem basis as the Trustees belleve that no materlal untertaintles exlst. The Trustees have con51dered the level of fvnds held and the exp¢td level of Income and expendityre for 12 months Irom authorising these financial statements. The txpe¢ted level of Income and expenditur is sufficient wlth the level ol reserves for the Charity to be able to continue as a golng concern. INCOME All Income Is reco8nlsed In the Statement of Financlal Actlvttles once the Charity has entltlement to the funds, It is probable that the income will be received and the amount can be measured rellably. For donatlons to be reco8nlsed the Charlty will have been notlfled of the amounts and the settlement dat In wrltlng. If there are conditions attached to the donatlon and this requires a level of performance before entitlement can be obtained then Income Is deferred until thost condltlons are fully met or the fulfllment of those conditlons is within the control of the Charity and it is probable that they wlll be fulfilled. Investment Income is earned throu8h holding assets such as cash on dep051t or invèstments in short term bond5 and other slmllar Investments. It includes interest reteivable. Interest income 15 re¢ognised uslng the effective Interest rate method and 15 Teco4nised a5 the Charity's rfght to recelve payment is establlshed. 12
ThE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARirY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2023 ACCOUNTING POUCIES- contSnued EXPENDITURE All expenditurels accounted for on an accruals ba515 and has been cla55ified under headin85 that aggregate all ¢osts related an activity of the Charity. Expenditure is reco8nised where there is a legal ortonstructive obliBatlon to make payments to third parties. it 15 probable that the settlement will be required and the amount of the obli8ation ¢an be measufed reliabty. It Is categorlsed under the followin8 headln8S. Ralslng funds xndItUre on charltsble activities Support and 8overnance cost. Support costs are those that assist wlth the work of the Chartty but do not dIrertl represent charltable activitle5 and Include office. governance and other administratl¥e Costs. TANGIBLE FIXED ASSET5 Tan8lble flxed assets are Stated at cost less depredatlon or In cases where fixed 4ss*ts have been donated at valuation ai the tlme of •cqulsltlon. Deprètlation has been Pfovided on tan8ible fixed assets at annual rates calculated to wrlte off the Cost. less the estimated residual value. of each •sset over its estimated useful life at the lollowin8 rates. Offke equlpment and computers - 20% on ¢ost Depreclatlon on tangible fixed assets is ¢har8ed in the year of acqulsltk>n and subsequent years. The 8aln or1055 ar151nK on the dlsposal of an a55et 15 determlned as the dlfference between the sale proceeds and the Cafryino volue of the asset and is 00n1$ed in net incomel lexpenditurèl for the yèar. HERITAGE ASSETS Heritage assets comprise SIrwar• pr•sènt•d to affillated organisations or annual awards whkh are stated at hlstorlc cost and are not depre¢l4ted because they malntaln thelr Value Indefinltely. TAXATION The Charity 15 exempt from corporatlon tax on Its charltable actmtles. CASH AND CASH EQUIVALENTS Cash and cash equlvalents Include Cash in hand and deposits held at call w4th banks, short temi bonds and Investments. OPERATING LEASES There are no operatlng leases. EMPLOYEE BENEFITS The Charity does not have any employees. All artwriies are or8ani5ed by the Tru5tee5 or volunteers. 13
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE ORIVERS CHARTrI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2023 ACCOUNTING POLICIES- ¢ontlnued FUND ACCOUNTING General funds are unrestricted funds which are available for use at the dlscretion of the Trustees In furtherance of the general objectNes of the Charity and which have not been de54qnated for other purposes. Restricted funds are funds which are to be used In accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of ralslng and administering such funds are thargetl against the specific lund. The Dlsney Restricted Fund is retained 5pe¢iflcally for the annual Ma8ical Ta¥1 Tour for Children to Dlsnewand Parls. FINANCIAL INSTRUMENTS The Charlty only has financlal asset5 and financlal liabillties of a klnd that quallfy as baslc financlal Instruments. Baslc flnanclal Instruments are Inbtlalty recognised at tranCtIOn value and Subsequent measured at amortlsed cost. CRITICAL ACCOUNTIt4fj ESTIMATES AND JUDGEMENTS In the appllcation of tht Charity's Jccountlng polities. the Trusiees are required to make judgements, estlmates and assumptions about the carryln8 amount of awts and liabllltles that are not readily apparent from other sources. The estimate5 and Undering assumptions are tleWed on an on8oin8 b¥sls. Revlslons to attountlng estlmates are recognised in the period in which the estimatt is revised where the revision afftcts Only that period or in the perlod of the revlslon and future perk)ds where the revlslon affects both current and future perbods. DONATIONS AND LEGACIES 2023 UhreStrI Restrlrted Totsl lunds neral funds Dlsney lund 2022 Total funds Donatlons and 8ffts Donated good5. facilities and servi¢es 765 228.625 165,0(KJ Z19,390 165.0 138,550 130.000 765 393,625 394.390 268,550 The Ma8ical Taxi Tour for Children dfid not take place In 2020 or 2022 due to government Covld 19 restrlctlons but resumèd in 2022. ThÈ Charity in indebted to the many volunteefs and organi5ations that sponsor and support its tharitable actlvlties. partlcularly the Magical Taxi Tour for Children. Without the invofvement of over London black cab drivers, the many doctors and nurses of the NHS. London Ambulance Servlce. the City of London Police. the French Guar(le Nationale, the Automobile Association. P&0 Ferries, the Marriott Hotel Group, all those Livery Companles and other organisations or individua15 who sponsor a taxi. the Magical Taxi Tour would not be P055ible. 14
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARirY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO JI Decèmber 2023 INCOME FROM OTHER TrADING ACTNMES 2023 Totsl fufids 2022 Total funds Unrestrkled Restrlrted ner•1 fvnds Dbney lund Christmas Ball Past Masters. lunch 104 Club draw 19.124 75 19.114 75 6,025 8,899 6025 6,227 6.025 19,199 25.224 15,126 INVESTMENT INCOME 2023 Total fvnds 2022 Totsl fund5 Unrestrkted Reslrk¢ed 8ener•l fvnds Dlsney fund Bank deposlt Income Nat West Bank 143 2,030 284 Investment Income CCLA Charitie5 Investment Fund Term Deposlts 3.518 663 3.518 8,197 3,508 3,689 5,5J4 6324 7821 13,745 7,481 EXPENDITUIIE ON RAISING FUNDS 2023 T(tl funds 2022 Total funds Unrert*d Restrlcted èral funds Dlsney fund Founder5 Day lunch Christmas 8all 104 Draw Corporate hospitality and dinners 911 5,826 1,830 4.251 16.610 16.610 1.655 7.792 1.655 1.240 6.552 ,162 26Jl57 12,818 There wa5 no Founders Day lunch In 2023. 15
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE DRIVERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 December 2013 EXPENDITURE ON CHARITABLE AcnviTIES 2023 Unre#rkted Rest1kt Total lunds neral funds Dlsney fvnd 2022 Totsl funds National Health livery Kitchen Initiative Maglcal Taxl Tour of Chlldren Awards Other 8rants and donatlons 1,376 289.694 332,084 33IO84 590 4,113 $90 65 9,652 4,638 332,149 336.787 301,722 The Maglcal Taxl Tour for Chlldren dld not take place In 2020 or 2021 due to iovernment Covld 19 travel restrbctlons. SUPPORT AND GOVERNANCE COSTS 2023 Tot•1 funds 2022 Total funds Unrestrfded 8ener•l funds Restrlcted D15nty fund Prlntln8 ènd statlonary Telèphones Advert15in Postage Computer costs Travel expenses Insuranee Siorage rental 8ank charges Independent Examlners fees lJ29 321 605 715 2x124 7M20 1.098 5.125 I29 321 6W5 782 2,024 7A20 1.098 5.125 301 506 381 595 2,312 67 1,049 5,350 216 250 250 250 67 26872 26,539 17,768 16
THE WORSHIPFUL COMPANY OF HACKNEY CARIIIAGE DRIVER5 CHAR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 102> HERITAGE ASSETS 2023 2022 Sll¥enw•re and awards Total Total COST AND NET BOOK VALUE At l January 2023 Addltlons IlJ69 11,369 11,369 At 31 December 2023 11.369 11,369 11,369 Herlta8e assets con5i5t of slfvenvare and awards whlch are not depreciated because they retaln thelr value Indefinitely. INVESTMENTS COIF In¢om• & Property Unlts Twm Deposlts Totsl CARRY114G VALUE At l January 2023 Additlons Interest retelved Less.. disposals Transfers inlloutl Unreali5ed Balnslllossesl 104,2 104386 6,608 At 31 December 2023 110.894 110.894 io. STOCKS 2023 2022 Ma8ical Taxl Tour Merchandlse I,0 1,000 Stock consists of gifts. clothin8 and other merchandlse gn to chlldren and volunteers who partl¢ite in the Magical Taxi Tour for Children 17
THE WORSHIPFUL COMPANY OF HACKNVI CARRIAGE DRIVERS CfrIARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Oecember 2023 ii. DE8TORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors 12. INVESTMENTS 2013 2022 T•rm Deposlts Tot•1 Total CARRYING VALUE At l January 2023 Transfer5 Inlloutl Addltlons Interest recelved Less: dlsposals 251.140 251340 333,230 8.197 8,197 3,690 85,6801 At 31 December 2023 259A>7 259.437 251,240 13. CAS 20 2022 Nat West Bank Barclays Bank 153J52 121,057 153,642 121,OS7 14. CREDITORS: AMOUNTS FALUNG DUE WtrHIN ONE YEAR 2023 2022 Trade creditors Accrued expenses 590 690 620 3,853 4.473 18
THE WORSHIPFUL COMPANY OF HACKNEY CARRIAGE ORIVERS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DKember 2023 15. CREDITORS: AMOUNTS FALLING OUE AFTER ONE YEAR 2022 loan from the Worshlpful Company of H3¢kney Carr*e Drlvers Ilvery company S0,tsXI 16. CONNECTÉD ORGANISATIONS AND RELATED PARTIES The Wor5hlpful Company of Hackney Carrlage Drivers Charrty is an Independent chartty and the Trustees are appointed by The Worshipful Company of H•¢kney Drivefs livery ctynpany which is Coftsidtred a related party together wlth Its members. The NHS Llvery Klt¢hen projert came to a natural conclusion in 2022 with the liftin8 of the re5trlction5 Imposed during the Coronavlrus pandemic. Durin8 2022, Six black cab taxi driver5, who are all members of the Worshipful Company of Hackney Cafrla8e Drlvefs livery company. Support the NHS Livery Kitchen inltiatlve by providlng taxi servSces and adminlstratlve support and received payments tot•lly £1,376 for thelr services. There were no slmilar related party payments In 2023. 17. TRUSTEES, REMUNERATION AND BENEFITS Two Trustees, PA Roughan and P Davls, rectived payments totallin8 £ nil12022 - £2231 under the NHS Llvery Kltchen Inltiatlve for settin8 up and admlnistratlng the Inltlatlve and provldlng taxi servlces. These payments were approved by an independent Tlustee. There were no other Trustee5' remuneratloTr. or other benefits for the year ended 31 Dettmber 2023 nor for the yèar ended 31 December 2022. TRUSTEES, EXPENSES In the year ended 31 December 2023, four trustee$12022-five trustees) were relmbursed a totsl of 3,75312022 . £16,864? for direct expenses incurred in respect of the 2023 Ma8ical Taxi Tour for Children. 19. OPERAMNG LEASE COMMITMENTS The Charity has no operating lease ¢ommitments. 20. ULTIMATE CONTROLUNG PARTY The Charity is controlled by the Board of Trustees who are appolnted by The Worshipful Company of Hacknev Carriage Drlvers INery company. 19