## THE NEW SQUARE CHARITABLE TRUST
(Registered Charity No 1195812)
ANNUAL REPORT OF THE TRUSTEE AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
PAYNE HICKS BEACH LLP 10 New Square Lincoln's Inn London WC2A 3QG
## THE NEW SQUARE CHARITABLE TRUST
## ANNUAL REPORT OF THE TRUSTEE AND FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 5 APRIL 2024
## CONTENTS
||Page|
|---|---|
|Administrative information about the Charity, the trustee and their advisors|1|
|Trustee's report|2 - 4|
|Independent Examiner's Report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the accounts|8 - 9|
Page 1
## THE NEW SQUARE CHARITABLE TRUST
ADMINISTRATIVE INFORMATION ABOUT THE CHARITY, THE TRUSTEE AND THEIR ADVISORS
TRUSTEE : Payne Hicks Beach Trust Corporation Limited PRINCIPAL ADDRESS : Payne Hicks Beach LLP 10 New Square Lincoln's Inn London WC2A 3QG CHARITY REGISTRATION NUMBER : 1195812 INDEPENDENT EXAMINER : Martin and Company Accountants 25 St Thomas Street Winchester SO23 9HJ BANKERS : C Hoare & Co 37 Fleet Street Temple London EC4Y 1BT SOLICITORS AND ADMINISTRATORS : Payne Hicks Beach LLP 10 New Square Lincoln's Inn London WC2A 3QG
Page 2
## THE NEW SQUARE CHARITABLE TRUST
## ANNUAL REPORT OF THE TRUSTEE
## FOR THE YEAR ENDED 5 APRIL 2024
The trustee presents their report along with the financial statements of the Charity for the year ended 5 April 2024. The financial statements comply with the Charity's Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities 2005 and 2008 as amended.
## GOVERNANCE, STRUCTURE AND MANAGEMENT
## Governance
The New Square Charitable Trust is governed by a trust deed dated 10 March 2021. The Charity is registered under the Charities Act 2011, Charity Registration Number 1195812.
## Payne Hicks Beach Trust Corporation Limited (PHBTCL)
Payne Hicks Beach Trust Corporation Limited (PHBTCL) was appointed on 10 March 2021. PHBTCL is a trust corporation within the meaning of The Trustee Act 1925. All Directors are practising Solicitors or Chartered Accountants, and partners of Payne Hicks Beach LLP.
The Trustee does not receive remuneration or other benefit from its work with the Charity.
## Trustee's responsibilities statement
The Trustee is responsible for maintaining financial records, prepare and submit accounts and returns in accordance with the requirements of the Charities Act 2011 and the provisions of the Trust Deed.
Payne Hicks Beach Trust Corporation Limited is the sole corporate trustee of the Charity. The directors of Payne Hicks Beach Trust Corporation Limited are also partners or senior staff in the firm of Payne Hicks Beach LLP. The Charity Trustee must therefore act entirely independently of their role in Payne Hicks Beach LLP and ensure that decisions taken in relation to the Charity are only made in the best interests of the Charity. The main source funding of the Charity is donations from the partners of Payne Hicks Beach LLP.
## Structure and management reporting
The Charity currently has one Trustee, a new trustee or trustees may be appointed at any time (either by way of replacement or addition) and notwithstanding that, the total number of Trustees may exceed four.
The Trustee shall hold at least two meetings in each calendar year and with at least one-third of the total number of Trustees at the time or two directors of the trust corporation present. Trustees shall attend in person unless the Trustee agrees another appropriate means of communication between those taking part.
The Trustee is ultimately responsible for the policies, activities and assets of the Charity. They review the developments with regard to the Charity, its grant giving activities and make any important decisions. When necessary, the trustees seek advice and support from the Charity's professional advisers including solicitors and accountants. The day to day management of the Charity's activities, and the implementation of policies, is delegated to the Private Client Department of Payne Hicks Beach LLP. The Department ensures that grant applications are processed and presented to the Trustee as appropriate; it administers payments and keeps the books and records of the Charity.
Page 3
## THE NEW SQUARE CHARITABLE TRUST
## ANNUAL REPORT OF THE TRUSTEE
## FOR THE YEAR ENDED 5 APRIL 2024
## Risk management
The Trustee assesses the risks faced by the Charity on an ongoing basis, and at quarterly board meetings.
The Trustee considers that the financial risks faced by the Charity are low, with the Charity not holding large reserves at the current time.
The Trustee understands that they are under a duty to act in the best interests of the Charity, meaning that they must not place themselves in a position where they have, or may have, a direct or indirect interest that conflicts with their duties as a charity trustee and must not profit from their position as a charity trustee. With this in mind, the Trustee has adopted a Conflicts Policy, which sets out guidelines and procedures for identifying, monitoring and managing actual and potential conflicts of interest. The Trustee has also adopted a Grant Making Policy, covering the due diligence procedures to be undertaken upon application for grants being received and to assess any associated risks.
The Trustee has had regard to the Charities Commission guidance on public benefit.
## ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES
## Activities and specific objectives
The Trustee will operate a grant giving policy, providing funds for such charitable object or institution as the trustee thinks fit.
During the period of 21 years from 10 March 2021, the Trustee has the power to accumulate the whole or any part thereof of the income of the Trust Fund for investment to be held as an accretion to capital.
## Key management
The Trustee shall conduct the affairs of the Charity in such manner as it may consider appropriate, and may make such arrangements in relation to the administration of the Charity as it consider advisable.
As noted above, the day or day management of the Charity's activities, and the implementation of policies, is delegated to the Private Client Department of Payne Hicks Beach LLP.
## FINANCIAL REVIEW
## Results for the period
During the year, the Trustee made donations totalling £11,625 to 16 charitable organisations (2023 - £6,730 to 6 charitable organisations), the largest being £5,000 to Glass Door Homeless Charity (2023 - £5,000 to UNICEF Syria Turkey Appeal ).
During the year, donations to the Charity totalled £20,000 (2023 - £15,798), and the Charity received a Gift Aid repayment of £12,235 (2023: £Nil). The Charity received bank and other interest of £580 (2023 - £56).
This results in a net income or net increase in funds during the year of £21,162 (2023 - £8,140).
Page 4
## THE NEW SQUARE CHARITABLE TRUST
## ANNUAL REPORT OF THE TRUSTEE
## FOR THE YEAR ENDED 5 APRIL 2024
## Reserves policy
The Trustee shall have power to establish funds for particular purposes or to maintain reserves.
## FUTURE PLANS
The Trustee does not anticipate to deviate from the current objectives and activities of the Charity.
Signed on behalf Payne Hicks Beach Trust Corporation Limited - Trustee:
Rosamond McDowell 09/01/2025 ....................................................... ......................................................... Director Date James Bacon 09/01/2025 ....................................................... ......................................................... Director Date
Page 5
## THE NEW SQUARE CHARITABLE TRUST
## REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEE
## OF THE NEW SQUARE CHARITABLE TRUST
I report to the charity Trustee on my examination of the accounts of The New Square Charitable Charitable Trust (the ‘Charity’) for the year ended 5 April 2024 which are set out on pages 6 to 9.
## RESPONSIBILITIES AND BASIS OF REPORT
As the Trustee of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Charity's accounts out under Section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving the cause to believe that in any material respect:
- accounting records were not kept in respect of the Charity as required by Section 130 of the Act; or
- the accounts do not accord with those records; or
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
......................................................
J.A. Burnett ACA Martin and Company Accountants 25 St Thomas Street Winchester SO23 9HJ
09/01/2025
Page 6
## THE NEW SQUARE CHARITABLE TRUST
## STATEMENT OF FINANCIAL ACTIVITIES
## (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 5 APRIL 2024
|2023
Note
INCOME AND EXPENDITURE
Income resources
2
15,000
Donations (page 8)
-
Gift Aid
798
Sundry donations
56
Bank and other interest
15,854
Total
Resources expended
7,714
Promoting and enhancing charitable work
4
7,714
Total resources expended
8,140
Net movements in funds
14,815
Resources brought forward at 6 April 2023
£22,955
Resources carried forward at 5 April 2024|Unrestricted
Funds
2024
£
20,000
12,235
-
580
32,815
11,653
11,653
21,162
22,955
£44,117|
|---|---|
A total of £20,000 in donations was received by the Charity from Payne Hicks Beach LLP Partners. The Charity also received a Gift Aid repayment of £12,235.
The Charity undertook no direct charitable activites but awarded donations to a number of institutions in furtherance of their charitable activities. The largest donation was made to Glass Door Homeless Charity in the sum of £5,000. A total of 16 further donations were made to 15 other charities, each totalling £1,000 or less.
Page 7
## THE NEW SQUARE CHARITABLE TRUST
## (Registered Charity No 1195812)
## BALANCE SHEET
## AS AT 5 APRIL 2024
|2023
Note
£
Current assets
22,955
Cash (page 8)
3
22,955
Total current assets
Represented by:
£22,955
Unrestricted funds - Capital Fund|2024
£
44,117
44,117
£44,117|
|---|---|
The Trustee acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and preparation of the accounts.
These accounts have been prepared in accordance with the requirements of the Charities Act 2011.
Approved by Payne Hicks Beach Trust Corporation Limited as Trustee and signed by:
Rosamond McDowell James Bacon ............................................... ................................................... Director Director
09/01/2025 Date of Approval: ....................................................................................................…2024
Page 8
## THE NEW SQUARE CHARITABLE TRUST
## NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
## 1 ACCOUNTING POLICIES
## General Information
The New Square Charitable Trust is governed by a Trust Deed dated 10 March 2021. The Charity is registered under the Charities Act 2011, Charity Registration Number 1195812.
The Charity aims to fulfil its objectives by favouring grants to other registered charities that work in areas that align with the Charity's funding objectives as detailed in the Grant Making Policy.
## Basis of Preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities and the Charities Act 2011. The cash receipts and payments basis of preparation has been used.
The financial statements for the Charity have been prepared to the year ended 5 April 2024. The financial statements are prepared in sterling which is the functional currency of the Charity.
## Status of Funds
The entire resources of the fund are unrestricted and the Trustee has complete discretion for their use in pursuance of its objectives.
## Taxation
The Charity is not subject to any taxes on its charitable activities.
## 2 INCOME RESOURCES
|2023
£
15,000
Donations
798
Sundry donations
-
Gift Aid
56
Bank and other interest
15,854
CURRENT ASSETS
2023
Cash
£
22,955
C Hoare & Co
22,955|2024
£
20,000
-
12,235
580
32,815
2024
£
44,117
44,117|
|---|---|
## 3 CURRENT ASSETS
Page 9
## THE NEW SQUARE CHARITABLE TRUST
## NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
## 4 PROMOTING AND ENHANCING CHARITABLE WORK
**----- Start of picture text -----**
2023 2024
£ £
6,730 Donations made (note 5) 11,625
960 Governance costs -
24 Bank charges 28
7,714 11,653
DONATIONS MADE
2023 The following donations were made during the year : 2024
£ £
20 Actionaid -
- Arts Centre Group 250
-
Coram's Fields and the Harmsworth Memorial Playground 1,000
- Cure Parkinsons 100
630 DEC Earthquake Appeal -
- Ellen MacArthur Foundation 250
- Giving Works 250
-
Glass Door Homeless Charity 5,000
- Great Ormond Street Hospital Trust 250
- Juvenile Diabetes Research Foundation 250
- Little Sisters of the Poor 250
805 London Legal Support Trust 840
- Macmillan Cancer Support 335
- The Motor Neurone Disease Association 500
- Movember 100
-
Royal National Lifeboat Institution 1,000
- Royal British Legion Poppy Appeal 250
25 Save the Children -
250 The EQ Foundation -
- The HALO Trust 1,000
-
5,000 UNICEF Syria and Turkey Appeal
6,730 Total donations made 11,625
**----- End of picture text -----**
## 5 DONATIONS MADE