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2025-03-31-accounts

Edward Holt Trust Trustees Annual Report & Accounts 31st March 2025

Registered Charity Number: 1188344

Edward Holt Trust 31[st] March 2025

Contents

Legal and Administrative Information 1
Trustees’ Annual Report 2
Trustees’ responsibilities in relation to the financial statements 7
Independent Auditor’s Report to the Trustees of the Edward Holt Trust 8
Statement of Financial Activities for the year ended 31 March 2025 12
Balance Sheet at 31 March 2025 13
Notes to the Financial Statements 14

Edward Holt Trust 31[st] March 2025

Legal and Administrative Information

Trustees Mr R P Kershaw (Chair) Mr M Fry Mr M J Prior Mrs J Bird Miss J Kershaw Professor R Bromley Appointed 11 June 2024 Secretary Mrs E Willder, FCMA, CG(Affiliated) Auditors DJH Audit Limited St Georges House Peter Street Manchester M2 3NQ Bankers The Royal Bank of Scotland plc St Ann Street Manchester, M60 2SS Registered Address Bolton Arena Arena Approach Horwich Bolton, BL6 6LB Charity Number 1188344 Investment Advisers Sarasin & Partners LLP Juxon House 100 St Paul’s Churchyard London EC4M 8BU Evelyn Partners 3[rd] Floor 9 Colmore Row Birmingham B3 2BJ Solicitors Addleshaw Goddard LLP One St Peter’s Square Manchester M2 3DE Butcher & Barlow LLP 3 Royal Mews Gadbrook Park Northwich Cheshire CW9 7UD

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Edward Holt Trust 31[st] March 2025

Trustees’ Annual Report

The Trustees present their annual report and financial statements of the charity for the period ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 14 to 16 the financial statements and comply with the charity’s Trust deed, the Charities Act 2011 and 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 effective January 2019.

Structure, Governance and Management

The charity became a Charitable Incorporated Organisation (CIO) in March 2020 with the charity registration number, 1188344. Prior to this the Trust was an unincorporated charity constituted under a Trust deed dated 24 November 1955 and was a registered charity, number 224741. The objects of the Trust, as defined in the Constitution, are for general charitable purposes.

The unincorporated Trust was established by a gift from Edward Holt in 1955, following the philanthropic tradition of the Holt family. The Trust does not actively fundraise and seeks to continue the work desired by the donor through the careful stewardship of its existing resources.

The formal transfer of assets took place on 1 April 2021.

The Trustees are appointed by the Board of Trustees and serve for five years after which period they may put themselves forward for re-appointment. There are no restrictions on the number of Trustees, although it has been determined that six Trustees will serve, with one Trustee retiring each period on a rolling cycle. At the end of the financial year there were five trustees.

At the regular Trustees’ meetings, the Trustees agree the broad strategy and areas of activity for the Trust, including issues surrounding the running of Holt House, consideration of grant-making, investment, reserves and risk management policies and performance. The day to day administration of Holt House, the administration of grants and the handling and processing of applications before consideration by the Trustees is delegated to the Secretary.

The Board keeps the skill requirements for the Trustee body under review and if a Trustee permanently retires, or additional new Trustees are required, the Board recruit the new Trustee(s). New Trustees are normally sought through existing contacts.

The induction process for any newly appointed Trustee comprises an initial meeting with the Chair and the Board. The welcome pack includes a brief history of the Trust, copy Board minutes, a copy of the last three periods of annual reports and financial statements, a copy of the governing Trust deed, a copy of the Charity Commission’s guidance “The Essential Trustee: What You Need to Know”, a copy of the Charity Commission’s guidance ‘Charity trustee welcome pack’ and a copy of the Trusts policies.

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Edward Holt Trust 31[st] March 2025

The names of the present Trustees and Secretary are set out on page 1.

Key Management Personnel and Remuneration

The Trustees consider the board of Trustees and the Chairman as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the period. Details of related party transactions are disclosed in note 10 to the accounts.

In accordance with the Trust’s Conflict of Interest policy, Trustees must declare their business and personal interests. The Secretary maintains a register of interests and updates it on an annual basis. Trustees must withdraw from decisions where they have a conflict of interest.

Risk Management

The Trustees have considered in detail the risks facing the Charity, the controls in place to mitigate these risks and action plans to deal with these areas where controls could be enhanced, particularly concerning grant-giving. The Trustees believe that they have appropriate controls in place, commensurate with the size of the organisation and their cost-effectiveness, to mitigate the risks identified.

The Trustees review and update the assessment of the risks facing the Charity annually, together with an assessment of the controls regularly.

Objectives and Activities for the Public Benefit

The objects of the Trust are wide, as defined in the constitution and are “to use the assets of the Charity for such charitable purposes or such charitable organisations or institutions as the Charity Trustees shall in their absolute and uncontrolled discretion determine” . The principal activities of the Trust are determined by the Trustees and continued to be as follows:

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant-making policy for the period.

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Edward Holt Trust 31[st] March 2025

Achievements and Performance

During the year the Trust gave grants totalling £367,042 (2024: £248,885) to charities and social enterprises operating in Greater Manchester who work with the people who are Homeless or to alleviate poverty. Further details of the charities supported can be found in note 8 of the accounts.

In addition the Trustees found a new tenant for 67 Whitehall Street in Rochdale which had been unoccupied for a period of time. The Trustees are delighted the Stop Start Go (SSG) Sustainable Living are now making use of the building.

At the end of the period, all of the flats at Holt House were tenanted. Refurbishments have been undertaken on flats as they have become vacant.

Financial Review

For the year to 31 March 2025, the Trust made a deficit of £196,014 (2024: surplus of £206,662) a decrease of £402,676 on the previous year.

Before the gain on investments, the deficit was £368,265 (2024: £233,628) The key reason for the variance is due to a higher number of grants being awarded in 2024/25 (see note 8).

Coupled with this the investment gain was less than the previous year being £172,251 (2024: £440,290).

The Statement of Financial Activities is shown on page 12 and the Balance Sheet is shown on page 13.

The Trust receives income from its investments and rents and service charges from its properties. Income from its investments was £141,469 (2024: £148,730)

The total movement in funds for the period was a decrease of £196,014 (2024: an increase £206,662). Therefore the total funds at the period end was £7,978,623 (2024: £8,174,637).

The flats and bungalow at Holt House, Dene Road, Manchester have been carefully maintained and are in good repair.

Investment Policy and Performance

Both Sarasin & Partners and Evelyn Partners were appointed as the Trusts investment managers in March 2020.

The Trustees have an investment policy with the investment managers that is reviewed on an annual basis.

Policy

The Trust seeks to produce the best financial return within an acceptable level of risk.

The investment objective for the reserves with effect from 1 January 2016, is to generate a return of 3.5% in excess of inflation, as measured by the UK Consumer

4

Edward Holt Trust 31[st] March 2025

Price Index (CPI), over the long term to protect the real value of the investment portfolio so that it can fund the future activities of the Trust.

In this context, the long-term is taken to be five years plus. This level of growth ought to allow for income to be withdrawn but for the capital value to keep pace with inflation, after deduction of the investment managers’ fees.

The Trustees also require a regular income from investments to fund the day to day running costs of the trust.

The asset allocation range is agreed upon with the two investment managers who are measured against a tailored benchmark. Two investment managers have been selected together with a specified asset allocation range to diversify the investment risk. Each manager attends a Trustee meeting at which their performance is discussed at least once a year.

Performance

During the year the total return on investments was a positive of 6.23% with the benchmark at 31 March 2025 being 6.1% (CPI of 2.6% plus 3.5%).

Reserves Policy

The Trustees maintain one unrestricted fund. Having reviewed its future funding commitments and taking into account any costs that would be incurred should the Trust cease to exist; the Trustees have determined that the minimum level of reserves held should be £419,028

This level will be reviewed on an annual basis to ensure that this remains an appropriate minimum level.

Any surplus funds above this minimum level will be utilised for the Trust’s long-term charitable grants and projects.

It has been the policy of the Trustees to hold limited cash reserves, as the investments are easily convertible if the need should arise.

At 31 March 2025, the Trust’s free reserves were £5,773,219

Plans for the Future

Holt House is a lasting testimony to the generosity and philanthropic concerns of the donor, Sir Edward Holt.

The Trust will continue to support the elderly and disadvantaged section of the community in the local area.

The Trustees will continue to support charities working with the homeless within Greater Manchester along with those working in alleviating poverty. This support would be a mix of both capital and grant funding whereby they can assist other charitable organisations that need new premises.

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Edward Holt Trust 31[st] March 2025

Auditors

DJH Audit Limited will be proposed for reappointment at the forthcoming Trustees’ meeting.

For and on behalf of the Trustees

RP Kershaw Chairman of the Trustees 14 November 2025

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Edward Holt Trust 31[st] March 2025

Trustees’ responsibilities in relation to the financial statements

The Trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

Provision of information to the auditor

So far as each of the Trustees is aware at the time the report is approved

Approved by the Trustees on 14 November 2025 and signed on their behalf by:

RP Kershaw, Chairman of the Trustees

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Edward Holt Trust 31[st] March 2025

Independent Auditor’s Report to the Trustees of the Edward Holt Trust

Opinion

We have audited the financial statements of Edward Holt Trust (the ‘charity’) for the year ended 31 March 2025 which comprise Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Edward Holt Trust 31[st] March 2025

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of Trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

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Edward Holt Trust 31[st] March 2025

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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Edward Holt Trust 31[st] March 2025

Despite appropriate planning and performing our work in accordance with International Auditing Standards, there are always inherent limitations that noncompliance is not detected. Non-compliance with laws and regulations is often further removed from the events and transactions reflected in the financial statements and material misstatements due to fraud can be deliberately concealed from auditors, for example through misrepresentation, forgery or collusion.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 audit 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 auditor’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 audit work, for this report, or for the opinions we have formed.

Christopher Abbott

Christopher Abbott (Nov 26, 2025 11:06:54 GMT)

Christopher Abbott FCA (Senior Statutory Auditor)

For and on behalf of DJH Audit Limited

Accountants & Statutory Auditor St Georges House Peter Street Manchester M2 3NQ 26/11/25 Date ……………..

DJH Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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Edward Holt Trust 31[st] March 2025

Statement of Financial Activities for the year ended 31 March 2025

Note
INCOME AND ENDOWMENTS
Investment income
1
Income from charitable activities:
Residents’ rent contributions
Wayleave and ground rent
TOTAL INCOME
EXPENDITURE
Costs of raising funds:
Investment management costs
Expenditure on charitable activities:
Holt House
2
Edward Holt House
2
Edward Holt House (Paddington)
2
67 Whitehall Street
2
Institutional grants
2
Strategic planning
2
TOTAL EXPENDITURE
NET (EXPENDITURE)/INCOME AND
NET MOVEMENT IN FUNDS BEFORE
GAINS AND LOSSES ON
INVESTMENTS
Net gains on investments
13
NET MOVEMENT IN FUNDS
Reconciliation of funds
Total funds brought forward
17, 18
TOTAL FUNDS CARRIED FORWARD
17, 19		 Unrestricted Funds
31-Mar-25
£
141,469
113,131
80
254,680
38,877
146,247
16,035
9,834
20,143
387,681
4,128
622,945
(368,265)
172,251
(196,014)
8,174,637
7,978,623		 Unrestricted Funds
31-Mar-24
£
148,730
107,238
719
256,687
36,862
139,960
16,035
9,834
21,679
262,154
3,791
490,315
(233,628)
440,290
206,662
7,967,975
8,174,637

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Edward Holt Trust 31[st] March 2025

Balance Sheet at 31 March 2025

Note
FIXED ASSETS
Tangible assets
12
Investments
13
TOTAL FIXED ASSETS
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
14
TOTAL CURRENT ASSETS
LIABILITIES
Creditors: falling due within one period
16
NET CURRENT ASSETS
NET ASSETS
THE FUNDS OF THE CHARITY
General fund
18
TOTAL CHARITY FUNDS		 Unrestricted
Funds
31-Mar-25
£
2,205,404
5,655,596
7,861,000
63,528
264,408
327,936
(210,313)
117,623
7,978,623
7,978,623
7,978,623		 Unrestricted
Funds
31-Mar-24
£
2,221,865
5,781,210
8,003,075
87,709
159,467
247,176
(75,614)
171,562
**8,174,637 **
8,174,637
**8,174,637 **

The notes on pages 14 to 23 form part of these accounts.

These financial statements were approved by the board of Trustees and authorised for issue on 14 November 2025 and were signed on its behalf by:

RP Kershaw, Chairman of the Trustees

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Edward Holt Trust 31[st] March 2025

Notes to the Financial Statements

Accounting Policies

a. Basis of Accounting

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts.

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 Republic of Ireland (FRS 102) effective January 2019 and the Financial Reporting Standard Applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011.

The Trust constitutes a public benefit entity as defined by FRS 102.

b. Going Concern

The Trustees believe there are adequate resources which will enable the Trust to meet its liabilities for the foreseeable future. For this reason, the Trustees have adopted the going concern basis in preparing the financial statements.

c. Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date of the market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the period.

d. Tangible Fixed Assets and capitalisation policy

All additions to fixed assets costing more than £2,000 are included at cost.

Depreciation is provided on tangible fixed assets, at rates calculated to write each asset down to its estimated residual value over its expected useful life as follows:

Holt House, Didsbury 2% straight line Holt Cottage 2% straight line Furniture and fittings 15% on the reducing balance Garden room 2% straight line Improvements to property 2% straight line Edward Holt House (Booth Centre) 2% straight line Edward Holt House (Salford Loaves and Fishes) 2% straight line 67 Whitehall Street 2% straight line

No depreciation is charged on freehold land.

e. Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

f. Irrecoverable Vat

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

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Edward Holt Trust 31[st] March 2025

g. Funds Structure

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.

h. Income Recognition

Dividends received from investments are credited by reference to their ex-dividend date. Other income is recognised when it is probable that the income will be received, and the amount of income receivable can be measured reliably.

i. Expenditure Recognition

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the 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 and has been allocated or apportioned under headings that aggregate all costs related to the category.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-period grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.

j. Allocation of Support and Governance Costs

Support costs have been differentiated between governance costs and other support 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 the independent examination together with an apportionment of overhead and support costs related to secretarial activities.

Governance costs and support costs relating to charitable activities have been apportioned on the basis of the time spent on running Holt House, awarding grants and strategic planning. The allocation of support and governance costs is analysed in note 3.

k. Costs of Generating Funds

The costs of generating funds consist of investment management fees.

l. Charitable Activities

Costs of charitable activities include grants payable as shown in note 2.

m. Realised Gains and Losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Unrealised gains are calculated as the difference between the market value at the period end and opening market value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

n. Key estimates and accounting judgements

In applying the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Trustees’ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates ad assumptions, the actual results and outcomes may differ.

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Edward Holt Trust 31[st] March 2025

During the current or preceeding period financial statements, no critical judgements or estimates were used in the preparation of these financial statements.

o. Taxation

The Trustees consider that requirements for the exemption from taxation set out in the Income Tax Act 2007, Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 are met and, therefore, no provision is made for taxation.

p. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered and the provision of bad debts.

Prepayments are valued at the amount prepaid net of any trade discounts due.

q. Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

r. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods, if the revision affects both current and future periods.

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Edward Holt Trust 31[st] March 2025

1) INVESTMENT INCOME

Dividends received - Sarasin
Dividends received - Evelyn
Bank interest		 Unrestricted
Unrestricted
31-Mar-25
31-Mar-24
£
£
63,212
96,869
78,126
51,649
131
212
141,469
148,730

2) EXPENDITURE ON CHARITABLE ACTIVITIES

The charity undertakes its charitable activities through the running of Holt House and awarded grants in furtherance of its charitable activities.

Note
4
5
6
7
8
Holt House
Edward Holt House
Edward Holt House (Salford)
67 Whitehall Street
Institutional grants
Strategic planning
3		 31-Mar-25
Charitable
Activities
Support and
Governance
Costs
Unrestricted
2025
£
£
£
133,865
12,382
146,247
16,035
-
16,035
9,834
-
9,834
16,015
4,128
20,143
367,042
20,639
387,681
-
4,128
4,128
542,791
41,277
584,068
Holt House
Edward Holt House
Edward Holt House (Paddington)
67 Whitehall Street
Institutional grants
Strategic planning		 31-Mar-24
Charitable
Activities
Support and
Governance
Costs
Unrestricted
2024
£
£
£
127,561
12,399
139,960
16,035
-
16,035
9,834
-
9,834
12,201
9,478
21,679
248,885
13,269
262,154
-
3,791
3,791
414,516
38,937
453,453

For the allocation of support costs, see note 3.

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Edward Holt Trust 31[st] March 2025

3) ALLOCATION OF GOVERNANCE AND OTHER SUPPORT COSTS

The total support costs and overheads attributable to charitable activity is apportioned as shown below:

Secretarial fees
Legal & Professional Fees
Bank Charges
Trustee expenses
GOVERNANCE COSTS
Audit fee
Secretarial expenses
Other Professional Fees
Trustee Indemnity Insurance		 Holt House
Edward Holt
House
Edward Holt
House
(Paddington)
67 Whitehall
Street
Institutional
grants
Strategic
planning
Total
allocated
Basis of
allocation
£
£
£
£
£
£
£
7,764
-
-
2,588
12,941
2,588
25,881 Staff time
-
-
-
-
-
-
- Actual
101
-
-
34
168
34
337 Split pro rata
20
-
-
7
33
7
67 Split pro rata
7,885
-
-
2,629
13,142
2,629
26,285
31-Mar-25
31-Mar-24
£
£
7,896
7,896
180
334
2,285
-
4,632
4,363
14,993
12,593

The total governance cost attributable to charitable activities is then apportioned in the same ratio as the other support costs:

ALLOCATION OF GOVERNANCE COSTS
Holt House
67 Whitehall Street
Institutional grants
Strategic planning		 31-Mar-25
31-Mar-24
£
£
4,497
3,777
1,499
3,148
7,498
4,408
1,499
1,260
14,993
12,593

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Edward Holt Trust 31[st] March 2025

4) HOLT HOUSE EXPENDITURE

Costs in the furtherance of the charity’s objectives:
Residents’ Council Tax
Water charges
Insurance
Gas
Electricity
Garden expenses
Repairs and renewals
Telephone
Sundry expenses
Cleaning
Depreciation
Housing management fees
5) EDWARD HOLT HOUSE EXPENDITURE
Depreciation
6) EDWARD HOLT HOUSE (PADDINGTON)
EXPENDITURE
Depreciation
7) 67 WHITEHALL STREET EXPENDITURE
Insurance
Repairs and maintenance
Utilities
Professional and legal fees
Council Tax
Depreciation		 31-Mar-25
31-Mar-24
£
£
129
-
4,846
4,114
7,818
6,388
13,330
16,637
3,689
1,869
4,830
5,355
42,629
37,380
343
313
-
1,183
8,180
7,222
32,605
32,605
15,466
14,495
133,865
**127,561 **
31-Mar-25
31-Mar-24
£
£
16,035
16,035
31-Mar-25
31-Mar-24
£
£
9,834
9,834
31-Mar-25
31-Mar-24
£
£
2,376
2,495
3,495
200.00
(254)
246
770
0
1,833
1,869
7,795
7,391
16,015
12,201

19

Edward Holt Trust 31[st] March 2025

8) GRANTS

A-Z Communities
Back on Track
Bolton Guild of Help
Bridging the Gap
Burnage East Quids In
Caritas
Contact
EGG
Greater Manchester Youth Network
Hidden Treasure Trust
Hygiene Bank
Keeping It Real 24/7
Manchester Action on Street Health
Mustard Tree
PC Refurb
Our Room (formerly The Men's Room)
Revolving Doors Housing Trust
Salford CAB
Sparks of Success
SSG
St Peter's Church
Stand Up Sisters
Stockport Loaves and Fishes
The Christie Charity
The Hub at Westhoughton
The Twelve Tribes of Israel
Vision Care
Women Matta
Wood Street Mission		 31-Mar-25
31-Mar-24
£
£
20,000
-
8,513
-
15,000
-
10,000
-
6,207
-
-
45,000
-
-
10,000
-
20,000
10,000
30,000
-
4,000
-
-
29,782
25,000
-
10,000
-
30,000
-
15,000
20,000
20,000
30,000
-
15,000
5,000
-
40,000
-
9,029
-
3,393
-
10,000
15,000
30,000
30,000
2,900
-
-
54,103
3,000
-
30,000
-
10,000
-
367,042
248,885

Some grants awarded are payable only on receipt of a satisfactory report from the grantee and confirmation that the charity has sufficient funds to make payment. These are treated as performance-related/conditional grants and are not recognised as liabilities until the specified conditions are met. Amounts approved but remaining subject to these conditions at the reporting date are disclosed as commitments that are not recognised in the balance sheet.

At year end, £254,000 (2024: £165,000) of approved grants remained subject to receipt of satisfactory reports and confirmation of available funds and were therefore not recognised as liabilities.

9) AUDIT AND ACCOUNTANCY FEES

Governance costs include an audit fee of £7,896 (2024: £7,896).

10) PAYMENTS TO TRUSTEES

During the period, Trustee expenses were incurred total £67 for travel costs (2024: £74). No Trustees received remuneration during the period (2024: £nil).

11) INDEMNITY INSURANCE

During the period, indemnity insurance was paid in respect of the Trustees in the sum of £4,082 (2024: £3,981).

20

Edward Holt Trust 31[st] March 2025

12) TANGIBLE FIXED ASSETS

Cost
At beginning of period
Additions
At end of period
Depreciation
At beginning of period
Charge in period
At end of period
Net book value
At 31 March 2025
At 31 March 2024		 Land
Block of
flats
Holt
Cottage
Furniture
and
fittings
Garden
room
Improvements
to property
Edward
Holt
House
Holt House
(Salford)
67
Whitehall
Street
Total
£
£
£
£
£
£
£
£
£
3,058
62,067
5,291
103,754
56,992
917,171
801,731
502,004
369,529
2,821,597
-
-
-
-
-
49,808
-
-
-
49,808
3,058
62,067
5,291
103,754
56,992
966,979
801,731
502,004
369,529
2,871,405
-
18,617
1,589
41,114
17,100
255,634
174,367
72,299
19,012
599,732
-
1,241
106
11,596
1,140
18,522
16,035
9,834
7,795
66,269
-
19,858
1,695
52,710
18,240
274,156
190,402
82,133
26,807
666,001
3,058
42,209
3,596
51,044
38,752
692,823
611,329
419,871
342,722
2,205,404
3,058
45,932
3,914
77,699
42,172
659,559
659,434
449,373
357,802
2,298,943

21

Edward Holt Trust 31[st] March 2025

13) INVESTMENTS

General
fund
£
Market value at 31 March 2024
5,781,210
Additions to investments at cost
177,354
Disposals at carrying value
(475,219)
Net (loss) on revaluation
172,251
Market value at 31 March 2025
5,655,596
Cost at 31
Mar 2025
Market
value 31
Mar 2025
Market
value 31
Mar 2024
Listed investments
£
£
£
United Kingdom quoted
investments
5,221,373
5,655,596
5,781,210
14) CASH AT BANK AND IN HAND
31-Mar-25
31-Mar-24
£
£
Cash at bank
RBS
125,852
79,718
Affirmative Deposit
442
421
Cash with Investment Managers
Sarasin LLP
38,469
78,998
Evelyn Partners
99,645
330
264,408
159,467
15) DEBTORS
31-Mar-25
31-Mar-24
£
£
Trade Debtors
24,416
46,372
Sundry payments in advance and accrued interest
39,112
41,337
63,528
87,709
16) CREDITORS: Amounts falling due within one period
31-Mar-25
31-Mar-24
£
£
Trade creditors
3,326
13,892
Accruals
206,987
61,722
210,313
75,614		 Cost at 31
Mar 2025
Market
value 31
Mar 2025
£
£
5,221,373
5,655,596		 General
fund
£
5,781,210
177,354
(475,219)
172,251
5,655,596
Market
value 31
Mar 2024
£
5,781,210

22

Edward Holt Trust 31[st] March 2025

17) ANALYSIS OF FUNDS

17) ANALYSIS OF FUNDS 17) ANALYSIS OF FUNDS
Fixed assets
Tangible assets
Investments
Current assets
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year
Net current assets
Total net assets as at 31 March 2025
Total net assets as at 31 March 2024
Prior year comparative
Fixed assets
Tangible assets
Investments
Current assets
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year
Net current assets
Total net assets as at 31 March 2024
Total net assets as at 31 March 2023
18) MOVEMENT IN FUNDS
At 31 Mar
2024

£
Unrestricted general fund
8,174,637
Prior year comparative
At 31 Mar
2023

£
Unrestricted general fund
7,967,975		 23
Unrestricted General
Fund Total
£
2,205,404
5,655,596
7,861,000
63,528
264,408
327,936
(210,313)
117,623
7,978,623
8,174,637
Unrestricted General
Fund Total
£
2,221,865
5,781,210
8,003,075
87,709
159,467
247,176
(75,614)
171,562
8,174,637
7,967,975
Income
Expenditure
Realised and
unrealised
gains
At 31 March
2025
£
£
£
£
254,680
(622,945)
172,251
7,978,623
Income
Expenditure
Realised and
unrealised
gains
At 31 March
2024
£
£
£
£
256,687
(490,315)
440,290
8,174,637
At 31 Mar
2023

£
7,967,975

st Edward Holt Trust 31 March 2025 24

Edward Holt Trust Annual Report and Accounts FYE 31 March 2025

Final Audit Report

2025-11-26

Created: 2025-11-24 By: Emma Willder (emma@beyondprofituk.co.uk) Status: Signed Transaction ID: CBJCHBCAABAASe37U3NutU9Ip4W42hw7GY0zlmQPeReQ

"Edward Holt Trust Annual Report and Accounts FYE 31 March 2025" History

Document created by Emma Willder (emma@beyondprofituk.co.uk)

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