Charlty Numbar: 1176080 THE DRUE HEINZ CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD 1•t APRIL 2023 TO 31•t MARCH 2024
THE DRUE HEINZ CHARITABLE TRUST CONTENTS Page Tru8tee8 and Professional Advi80r8 Tru8t888' Report Independent Audltor'8 Report statement of financial activitie8 Balance Sheet 10 Statement of cash flow8 Note8 to the financial 8tatements 12-18
THE DRUE HEINZ CHARITABLE TRUST TRUSTEES AND PROFESSIONAL ADVISORS Tru•tM8 J V Sh4)a M Bookman J L Gibson Charfty r•glst•r•d numbor 1178080 Prlnclp•l offko 3 Lincoln'8 Inn Fields, London, IhC2A 3AA Ind•pondont Audltor Oxley Accountants & Bu8ines8 Advi80r8 Limlled Sollcltor• SincLgir Gibson LLP Inv•8tm•nt Consultant• Wren Investment Offi'ce Llmlted
THE DRUE HEINZ CHARITABLE TRUST TRUSTEES, REPORT FOR THE PERIOD 18t APRIL 2023 TO 31$1 MARCH 2024 The trustees present their annual report together with the financial statements for the perlod ended 3111 March 2024. The trustees confirm that the annual reFort and fi'nancial statements of the charity comply with the Charities Act 2011. the requirements of Ihe charity's goveming document and the provisions of the Statement of Recommended Practice ISORPI.. Chanties Statement of Recommended Practice applicable lo charities prepafing their accounts in accordance with the Financial Reporting standard 102 IFRS1021 The Charity was regv6tered on 4th December 2017. under wlstration number 1176080. 8tN¢ture, governanc• and managemont Mothod of •ppolntm•nt or elactlon of truste•8 The charity was established by 8 Trust Deed dated 11th April 2017 a8 amended by a supplemental deed dated 41h December 2017, by Mrs Julia Shea, Mr Mark Bookman and Miss Janel Lucy Gibson. The tru$lees who helcl office durin9 the period and up lo the date of the r8FlJrt are as foll¢)ws'. Julia She8 M8rk Bookman Janet Lucy Gibson The m8nagement of the charlty18 the responsibility of the tNst8es vtho are co-opted under the temis of the trust deed. Tru81ees are appointsd al the discretion of the exisn9 Iruslees. Th8 existing trustees are responsible for the induction of any new trustee, which would involve awareness of a trustee's responsibilli1, the govemin9 document, administrative procedures and the philosophical approach of the charity, Organl8atlon•l slrueturn and docl•lon maklng Trustees moel al least l¢fr per year Iwilh Iruslees constituting a quorum) and major decisions conceming the charity are made by the trustees at these meetings. The trustees also agree the broad strategy and areas of activity for the charity, including grant making, Inveslrnent perfomiance, reserves and risk management policies. Day lo day admini8lration is delegated to Sinclair Gibson LLP. ObJectfvo5 and •¢tlvltl The principal activity of the charity is lo hold the capital and income of the trust upon trust to apply the Income. and all or such parts of the capital, at such time or limes in such a manner to further such objects cr purposes which are exclusively charitable according to the Law of England and Wales in any part of the woild and in such manner as the Iruslees may in th&ir absolute discretion think fit, taking into consideration those charitable objectives and purposes favoured by or of interest to the selllor, Drue Heinz. The trustees have had feg8rd to the guidanc8 155u8d by the Charities Commission on Public Benefit when selling their objects'ves.
THE DRUE HEINZ CHARITA8LE TRUST TRUSTEES, REPORT (continued) FOR THE PERIOD 1st APRIL 2023 TO 318t MARCH 2024 Revlew of actlvltle8, achlevements and perfornianc• The results for the period and financial position at the period end are considered Satisfactory by the trustees. During the year under review the trustee8 have worked wllh the charity's appointed Investment consultants lo develop and implement the strategy for investment of the charity'5 assets in order to support and sustain future grant making. In lemis of grants and grant making. the trustees have continued to monitor progress of charitable projects where existing commitments for grants lo be paid in inslalm8nls have been made and, having been satisfi'ed with progress, were glad to fulfil those instalmenls. The Iruslees also reviewed and considered new grant making opportunities and were pleased to pledge funds lor a number of new projecls, across the health, education and arts sectors. Golng concom After making appropriate enquirle8, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for Ihe foreseeable future, For this reason, they continue lo adopt the going Conrn basis in preparing the financial statements. Further details regarding the adoption of Ihe going concern basis can be found in the accounting policies notè. Reserves pollcy Reserves as at 31•t March 2024 comprise general purpose funds of £144,274,148 12023.. £130,843,31 S}, The Iruslees have taken the view that al this Stage they do not need to have in place seNes policy. The tru8t Itself will only operate in a grant-making c8P8city', it is not a functional charity having fixed costs or other ongoing obligations. Flnanclol revlew Tctal incoming resources into unstn'¢tel funds for the year amounted to £1.796,488 12023.. £1,370,662) and total $OUr¢e$ expended amounted lo £1.282,62012023. £1,462,251). The charily Incurred £452,62012023.' £362,251) of support costs and govemance costs. The fi'nancial statements set out on pages 9 10 18 summaries 811 the transactions of the charity for the period ended 31 March 2024. Rlsk As8e88ment The trustees have assessed the major risk5 to which the charity is exposed, in particu18r those relating to the operations and finances of the charity and are satisfied that systems and procedures are in place to miligale their exposure lo the major risks.
THE DRUE HEINZ CHARITABLE TRUST TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 1•t APRIL 2023 TO 3181 MARCH 2024 Plans lor the futurn Foll¢ylng the end oflhe financial period. the truste8s have Continued lo monitor projects for which grant fvnding has been pledged and have considered opportunities for (and, where appropriate, have agreed to make) further grant funding in the coming year5. The trustee6 envisage that the trust will continue lo operate as a grant fvnding charity for the long term. Trustses. r•8pon8lbllltlo8 Statement The trustees are responsible for preparlng the trusleeg, report and the financial stataments in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice). The law appliGable lo Charities in England & W8le8 requires the trustees to preparè financial ststements for each flnancial year which give 8 true and fair view of the stale of affairs of the Gharity and of tha incoming resources and application of resources of the charity for that p8riod. In preparing thes8 financial statements. the trustees are required to.. select suitable accounting pjliues and then apply them ¢onsistenlly,' make judgements and accounting e8ts'm8188 that are reasonable ond prud8nl,' stale whether applicable accounting standard8 have been followed, subject lo any matèrial departures disclosed and exained in the flnancial statements., prepare the financial 8tat&ments on the going concern basis unles6 It is inappropriate lo presume that the charity will continue in operation.. observe the methods and principles In the Charities SORP. The tru518es a responsible for keeping proper accounting records that are sufficlent to show and explain the charity's transactions and disclose with reasonable accuracy at any tlme the financial position of the charity and enable them to ensu that the financial statements comply wllh th8 Charities Act 2011. the Charity (Accounts and Report51 Regulations 2008 and the provisions, of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking ¥SOnable step3 for the preventlon and detectK)n of fraud and other Irregularities. This rep)rt was approved by the Trustees. on 17/I/z> and signed on their behalf by.. J L Glb80n Trustee
THE DRUE HEINZ CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE DRUE HEINZ CHARITABLE TRUST FOR THE PERIOD 1st APRIL 2023 TO 31¥t MARCH 2024 Oplnion We have audited the financial 818temen19 of The Drue Heinz Charitable Trust Ilhe 'charity'l for the period ended 3111 March 2024 set out on pages 9 10 18. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom A¢counling Standards, including Financial Reporting Stsndard 102 'The Financial Reports'ng Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting PractiGel. In our opinion, the financial statements.. giv8 8 true and fair view ol the stale of the charity's affairs as al 311t March 2024 and of incoming resources and applic81ion of resources for the period then ended". have been properly prepared in accordan wilh United Kingdom Generally Accepted A¢¢ounling Practice., and hav8 been prepared in accordanc8 Wlth the requiTements of the Ch8rities Act 2011. 8atsl• for oplnlon We Conducted our audit in accordance with Inlematlonal Stsndards on Audillng {UKI IISAS {UK)l and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements seclion of our report. We are independenl of the charily in a¢cordance with the ethical requirements that are relevant to our audit of the fi'nanGial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believa that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu8lon• relatlng to golnq concern In auditsng the financ1 statements, we have concluded that the Irustees, use of the going concern basis of accounting in the preparation of the financlal statements 18 appropriate. Based on the work we have performed, we have not identified any material uncertaints'es relatin9 to events or conditions that, individually or collectively, may cast signihcant doubl on the charity's ability to continue as a going concern for a period of al least twelve months from when the fi'nancial slalemenls are authorised for issue. Our responsibilitses and the responsibilllies of the trustees with ffjspect to golng concern are described in the relevant sections of this report.
THE DRUE HEINZ CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE DRUE HEINZ CHARITABLE TRUST (continued) FOR THE PERIOD 1st APRIL 2023 TO 314t MARCH 2024 Othor Infomiatlon The trustees are SpOnsible for the other information. The other infomialion comprises the information included in the Annu81 report, other than the financial statements and our auditof s report thereon. Our opinion on the financial statements does not cover the other Infomiation and we do not express any fom of assurance Conclusion thereon. In connecllon with our audrt of the financial statements, our responslbility is to read the other information and, In doing so, congider whether the olheT information is materlally inconsislenl with the financial statements or our knowledge obtsined in the audit or otherwise appears to be malerially mlsslated. If we identify such material misstalemenl in the financial stalemenls, we a required to delemiin8 whether there Is a materi81 misstatement in the financial statements or a material misstatement of the other informallon, If, based on the work we have performed. we conclude that there is a rnalerial mi8Stalement of this other Inft)rmation, we are required to report that facl. We have nolhlng lo port in thi8 reg8rd. Matt•r8 on whl¢h wo •rn r•qulred to report by •xc•ptlon We have nothing to report in respect of the following m8tters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion., the infomialion given in the tru8tee5' report 18 inconsi818nl in any materlal respect wth the fi'nancial statements,. or suffi'cient accounting records have not been kept". or the financial statements are not in agreement with the accountsng re¢ord8 and r8tum8', or w& have not received all the infomiats'on and explanations we require for our audit. Ro8pon8lbllltlo• ol tru•t••• As explalned more fully in the trustee5' responsibilities statement, the trustees are responsible for thè preparation of the flnancial statements which give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misslalement, whether due lo fraud or error. In preparing the financial slatements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as 8pplicable. matters related to going concern and using the going concern basis ol accountsng unless the trustees eilher intend to liquidate the charrty or to cease operations, or have no realistic allernalive but lo do $0.
THE DRUE HEINZ CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE DRUE HEINZ CHARITABLE TRUST Icontinuad) FOR THE PERIOD 1¥tAPRIL 2023 TO 315t MARCH 2024 AudSlor's r•sponslbilities for the audit of th• flnancial statements Our objectives are to obtain reasonable assurance about whether the financial slalements as a whole are free from material mis5talemenl, whether due to fraud or error, and to Issue an auditor's report Ihal includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit condu¢led in accordance with ISAS IUKI will always detect a material misstalemenl when it exists. Mis$latement5 can arise from fraud or error and are considered material if, individually or in the aggregale, they could reasonably be expected to influence the economic decisions of users tsken on the basis ol these financial statements. A further descriplkjn of our responsibllllies for the audit of the financial ststements Is located on the Financial Reporting Council'swebsite at www.lrc.or kla itorsies onsibililies This d8scription fofms part of our auditor's report, Extent to whlch the audlt was consldernd capable of dotgcllng Irregul•ritio•, Includlng fraud Irregularities, including fraud, are instances of non-compliance with law8 and regulalron8. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due lo fraud or error, and discussed these beeen our audit team memkrs. We then designed and performed audll procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate lo provide a basis for our opinion. We obtained an understanding of the legal and regulatory fr8mework within which the charity operateg, focusing on those laws 8nd regulations that have a direct effect on the delerminalion of material amounts and disclosu$ in the financial stalemenls. The law and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP IFRS 1021. We assessed the required compliance with these law5 and regulallons 85 part of our audit procedures on the related ffinancial statement item8. In addllion, we consider provisn$ ol other laws and regulations that do not have a direct effect on the financial slalemenls but compliance with which might be fundamental lo the chaiity's ability lo operate or to avoid a material penalty. W8 also considered the opportunities and incentives that may existwilhin the charity for fraud. The laws and gulatIonS we considered In this context for the UK operations were General Data Prolecllon Regulation {GDPRI. Auditing standards limit the required audit procedures lo identify nonrycompliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identth'ed the greatest risk of material impacton the flnancial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedu8 lo respond lo these sks, included enquiries of management about their own idenlificalion and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading mlnules of meetings of those charged with governance.
THE DRUE HEINZ CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE DRUE HEINZ CHARITABLE TRUST (continued) FOR THE PERIOD 1•tAPRIL 2023 TO 31$t MARCH 2024 Extent to whlch the •udlt was consldor•d capable of d•t•¢ting Irr¢gularltle8, includlng fraud Iconllnuad) cIng to the inherent limitations of an audit, there is an unavoidable d5k that we may not have deteed some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with audillng stsndards. For example, the further iemved non- compliance with laws and regulations lirregularits'esl is from the events and transactions flected in the financial statements, the less likely the inherentty limited procedu9 required by auditing stsndards would identify it. In addibon, as with any audit, there remained 8 higher nsk of non-deteclion of IrguIanties, as these may involve collusion, forgery, intentional omissions, misrepresentation5, or the override of internal controls. We are not r8sponsible for preventing non-compliance and Gannot be expected lo detect non-compliance with all laws and regul8llons. U•0 ol our report This report is made solely to the ch8rity'8 trustees, as g body, in accordance with Part 4 of the Ch8rltie8 (Accounts 8nd Reports} Regulations 2008. Our audit work has teen und8rt8ken so that we might stale lo the charity's trustees those matters we are required lo stat8 to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by 18w, we do not accept or assum8 responsibility to anyone other than the charity and its trustees, as 8 body, for our audit work, for thls report, or for the opinions we have fornd. G W Oxloy Isenlor Statutory Audltorl Forand on bohalf of Oxley Accountant8 & 8uslne Advl8ors Llmltod Chartered Accountant• & 8tstutory Audltor 17 Manor Road Ea¥Jt Molo8ey SuTrey KT8 9JU
THE DRUE HEINZ CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1st APRIL 2023 TO 31st MARCH 2024 Unro8trlcted funds 2024 Unre51rlcted funds 2023 Incom• from: Investments 1,798,488 1,370,662 1,796,488 1,370,662 Exp•ndliurn on: Donation8 Other expenditure 830.000 452.620 1,100,000 362,251 Total expenditure 1,282,820 1,462.251 N•t operntlng Incomè Profit on disposal of investments Exchange movements Revaluation of inve8lmenls 513,868 280,727 11.746,563) 14,391,801 191,589) 1302.7161 8,076,050 3,460,215 Net mov•m•nt In fund8 13,439,833 11,141,960 Re¢onclllatlon ol fund•: Total funds brought forward 130,834,315 119,692,355 Total fund• ¢arrf•d forward 144,274,148 130,834,315 The notes on pages 12 to 18 form part of these financial statements
10 THE DRUE HEINZ CHARITABLE TRUST BALANCE SHEET AS AT 31st MARCH 2024 2024 2023 Not• FIXED ASSET8 Investments 135.881.645 121,747,660 CURRENT ASSETS Cash al bank and in hand 8,496,813 9,177,820 8.496,813 9,177,820 CREDITORS: amounts f811ing due within one year 104.310 91,165 NET CURRENT ASSETS 8,392.503 9,086,655 NET ASSETS 144,274,148 130,834,315 CHARITY FUNDS Unrestricted funds 144,274,148 130,834,315 TOTAL CHARITY FUNDS 144,274,148 130,834,315 22=== The financial statements were approved by the tru¥tees on 1711 /L> . and signed on their behalf J L Glb8on The notes on pages 12 to 18 form part of these financial statements
11 THE DRUE HEINZ CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE PERIOD 1Bt APRIL 2023 TO 31st MARCH 2024 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Nel cash provided by operating actlvities Investment income Nel investment aclivlty 11,269,475) 11,408,498) 1,796,488 1,370,662 {1,208,0201 {110.514,111) CHANGE IN CASH & CASH EQUIVALENT IN THE YEAR Cash and cash equivalents brought forward {681,0071 9,177.820 110,551,945 119.729,765 CASH AND CASH EQUIVALENTS CARRIED FORWARD 8,496,813 9,177,820 z*EZE The nol88 on page8 12 to 18 form part of these financial sta18ments
12 THE DRUE HEINZ CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1•t APRIL 2023 TO 31•t MARCH 2024 Accountlng poll¢le• 1.1 8a8h ol proparatlon of flnanclal •tatements The financial 8talem8nls have been prepared in accordance with the Chari118s SORP IFRS 1021 applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally k¢gpled PractiL as it appl5 from 11t January 2015. The financial statements have been pTrpared to give a 'lrue and fair view. and have departed from the Chaiibes (Accounts and Reports) Regulatsons 2008 only lo the extent quired to provid8 a 'lrue and fair view.. Thi8 d8P8rture has involved followlng Ac¢ounting and Reporting by Charities preparing their accounts in accordance with the Flnancial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practs'co effedive from 1 April 2005 which has since been withdrawn. 1.2 Golng concern After making enquiries. the Iwstees have 8 reasonable expectation that the charlty has adequate resources to continue in operational existence and meets Ils liabilities as they fall due lor the foreseeable futu, being a peri¢é of at least twelve months from the dale these linancial statements were approved. Accordingly, they wntinue to adopt the going concern basis in preparing the financial stalemenls. 1.3 Fund accountlng General fvnds are unreslrictsd funds whl¢h are available lor use at the dlscrellon of the Iruslees in furtherance of the general obleotlves of the charity ancj whlch have not been desi9naled for other purposes.
13 THE DRUE HEINZ CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD 1st APRIL 2023 TO 31#t MARCH 2024 Accounllng pollcl08 l¢ontlnu?d) 1.4 Incomlng r8sourc88 All incoming resources are included in the statement of h'nancial activities when th& charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability. 1.5 Ro•ource• expended Expenditure Is accounted for on an accruals basis and has b88n included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be diwctly attrlbuled lo particular activities they have been allocated on a basis consistsnl with the use of the resources. Support costs are those costs incurred directly in support of expenditure on the object8 ofthe charity and include governance costs which are those costs incurred in ¢onne¢tion with administration of the charity and compliance with conslilultonal and statutory requirem8nls. Fundraising $1$ are Ihoge inCUrd in seeking voluntary contributions and do not include the costs of disseminating information in support of th8 charitable activities. Governance costs are those incurred in Gonnection with administratn of the charity and compliance with constituth'onal and statutory requirements. Charilabk activities and Governance costs are costs incurred on the Charity's operations, including support costs relating lo the governance of th8 ch8rity apportioned lo the charitable aclivilies. All expenditure is inclusive of irrecoverabl8 VAT. 1.6 Inve8tmènt• Net realised and unrealised gains and losses are reflected in the Statement of Financial Activities. Investments are stated in the Balance Sheet at nel market value. 1.7 Cash at Bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments with a Short fflalurity of three rTh)nlhs or less from the dale of acquisilKin or opening of the d8p051t or similar aGcounl.
14 THE DRUE HEINZ CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD 1•t APRIL 2023 TO 3181 MARCH 2024 1.8 Flnancial Instruments The charity has elected to app Sections 118nd 12 of FRS 102 in respect of financi81 instruments. Financial assets an¢J financial liabilities are recognised when the charity becomes party lo the contractual provision8 of the inslrumenl. Financial liabili118s and equity instruments are classified according to the substance of the conlraclual arrangement5 entereé into. An equity instrument 15 any contract that evklenc85 a resldual interest In the assets of the charity after deducting all of its 11gbilities. Flnanclal a•sot• Ba$ic financial 38set8. includlng trade and other debtors and cash and bank balances are initially reeognised at transadion price, unless the arrangement constitutes financing transaction, where the transaction 18 measured al the present value of the fvlure receipts discounted al a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rale of Inte$t that16 not a market rate. Such a6S81s are subsequently carried al amortised cost Using the effective Interest method. less any impairment. Fln•nclal Il•blllti Basic fi'nancial liabilities. including trade and other ¢ditOrs, are initially recognlsed al transaction price, unless the arrangement consts'lutes a financing transaction. where the debt instrument is measured al the present value of the fvture payments discounted at a market rate of interest for a similar debt inslrurnent. Financing transactions are those in whiGh payment is deferred beyond normal business terms or Is financed 8t a rate of interest that 1$ not a market r8te.
15 THE DRUE HEINZ CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continuod) FOR THE PERIOD 1st APRIL 2023 TO 318t MARCH 2024 Accountlng pollclo8 (contlnuedl Flnanclal1Sabllltle• (contlnuod) Debt instruments ar8 subsequently cathed at amortised cost, using the effective interest m8thod. Irro¢over•blo VAT Irrecoverable VAT is charged againsl the expendItU heading for whlch il was Incurred. 1.10 Logacy Ropaymonts Under the term8 of the legacy left lo the Trust by the Settlor, the Estate of Druè Heinz18 to be refvnded legacy funds if required lo me81 oulslanding liabilities of the Estate. Donatlo Future 2023 Commltmonts 2024 National Portrall Gallery Great Ormond Slre6t Hospital Children's Charity English Heritage Gat Ormond Street Hospital Children'8 canc8r care Th8 Professional Teaching Institution Oxford University Hospitals Foundation Trust 250,000 200,000 150,000 200,000 30,000 200.000 150,000 600,000 300,000 800,000 120,000 750,000 750,000 830,000 1,100,000 2,570,000
16 THE DRUE HEINZ CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD 18t APRIL 2023 TO 31•t MARCH 2024 other oxpenditurn Totftl 2024 Charlty, •ctlvltles Ral•lng fund8 Tol•l 2023 Oth•r ort co$t$ Auditor's fees Prof8$8ional Other Investment management fees 8,400 103.260 500 328 860 441,020 8,400 103,260 6,000 54,858 742 266 831 328,431 500 328 880 329.360 111,660 her G05ts Legacy PayM&nI8 {8ee 1.10 page 151 11,600 11,800 33.820 452,620 123,260 329,360 362,251 Nol Income Thls is stated after charging.. 2024 2023 Auditors, remuneration - audrt (includes £1,200 under provision for 20221231 8,400 8,000 During the year, no Iruslees GeNed any remuneration, benefits in kind or 1MbUr$ement of expenses {2023.' £Nill.
17 THE DRUE HEINZ CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE PERIOD 1st APRIL 2023 TO 311¢ MARCH 2024 Flxed Asset Invo8lm•nts This is stated after charging.. 2024 2023 Market Value 1,4.23 Currency movements and revaluations Net income genefated Profil on disposal 121,747.660 122,402,104 12,647,123 11,542,839) 1,206.135 1,191,111 280,727 1302,7161 Market Value 31.3.24 135,881,645 121,747,680 Investment breakdown. Equities Fixed interest securiti'e8 Allematives Cash & $h equivalent 103,976,207 24,535,310 3,041.584 4.328,544 73,916.871 33,654,537 1.765,552 12,410,700 135,881,645 121,747,680 Crodftors: Amounts falllng due wllhln on• year 2024 2023 Professional fees Investment management fees 35,670 68,640 25,165 66.000 104.310 91,165
THE DRUE HEINZ CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD 1st APRIL 2023 TO 31st MARCH 2024 statefflofit of fund statement of funds Gglnsl (L088e8) Income Expondlturn R•v•lu•tlon Balanc• It 1.4.13 Balance •t 31.3.24 General fund8- all funds 130,834,315 1,796,488 11,282.620) 12,925,965 144.274,148 statement of funds- prior year G•ln•l ILo8808) Incom• Expenqlltur• Rw•luatlon Balance at 1 A.22 B•l•nc• •t 31.3.23 General fvnds all funds 119,982,9 1,370,862 11.462,2511 11,233,549 130,834,315 An•ly•l• of n•t a88•ts betw•en fund• All funds are unrestricted. Roconclllatlon of not movement In funds to n•t rA•h flow from opor•ting actlvltl 2024 2023 Net movement in funds for the year {as per Statement of Flnancial Activities) Decrease in debtors Increase in creditors Investment income Investment gains 13,439,833 11,141,960 13,145 (1,796,488) {12,925,965} 53,755 11,370,662) {11,233,5491 {1,269,4751 {1,408,4) 10. Related party trdnsactlon8 During the year Sinclair Glbson LLP, of which J L Gibson is a member, charged the Charitable Trust £86.050 + VAT for legal services.