Charity registralion nUm￿r 1196119 HAwfHORNE MEADOW TRUST CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Caladine Chartered Certified Accounlants HAWTHORNE MEADOW TRUST CIO LEGAL AND ADMINISTRATIVE INFORMATION Tru6t•es Mr D Soulhgale (Chalrmanl rs R Southgale Mrs M Hammond Mrs J E D'Lima Mr D W E G Hammond Charlty nufflb•r 1196119 PrInci￿1 •ddro•s clo David Hammond 7 Louls C108 Old Catton No￿l¢h NR6 TBG A¢countant# Caladlna Llmlted Chantry HoLtse 22 Upperton Road Easlbourno East Sussex BN21 1BF HAwfHORNE MEADOW TRUST CIO CONTENTS P•ge Trusleos. report Accountants, rnport Statement of finan¢lal advllle8 Balance 8h881 Notès to the Ilnancbl 8tstemenls HAWTHORNE MEADOW TRUST CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present thelr annual report and ffnanclal st8tements for the year ended 31 December 2023. The financial statements have been proparod in accordance ￿￿th th8 accounting policios set out in note 1 to the financial statements and comply with th8 CIO'S govemlng document. the Charities Act 2011 and "Accounting an(J Reporting by Charibes.. Slalemenl of Rgcommgnded Practice applicabl8 lo charities preparing their a¢Gounls Sn accordance Tr￿th the Flnanclal Reporling Standard applicable in the UK and Republic of Ireland IFRS 102}. {eff8c16ve 1 January 20191. ObJectlv•8 and aetlvltl•$ Public bgngfft tru51ees have paid due regard to gufdance issued by the Charity Comm1581on in dacidlng what actlvWes the CIO should undortake. Achlgvomont8 and ￿rforrnanc Significgnl activities and achievernents against obiectiV618 Al present, no activities have tsken plac6 In Ihg CIO. In due course tha CIO wlll bo taklng ovor the ex18￿n9 8cllvlllès of The Ha￿horne Mgadow Trust, registration numb9r 1058375. Flnanclal revl•w Ther8 were no tran8acllon8 during thls pariod. Struclur•i governance and man8gem•Trt The CIO Is reglslered with the Charity Commi881on lor England and Walos Ino. 11961191. It 18 govern8d In 8ccordance wllh It8 Conslltution datad 12 Oclober 2021. The Iru$lèè$ who served durlng the yaar and up lo the date of sSgn8ture of the tlnanelal st#l8m8nts were.. Mr D Southgato Icholrmanl Mr8 R Soulhg8te Mrs M Hammond Mrs J E D'Llma Mr D W E G HammorKI Recrultment and 8ppoin(menf oftrnslges None of the Irusteas h8S any beneflcl81 interest in the company. All of the trusl8as arg mmber8 of the company and guarantee lo ¢onlrSbule £1 In the 8vent of a wlndlng up. The Trustee8' report was approved by tho Board of Tru81888, Mr D Soulhgale Ichalmianl Tru8toe Dale.. HAWTHORNE MEADOW TRUST CIO CHARTERED CERTIFIED ACCOUNTANTS, REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAwfHORNE MEADOW TRUST CIO FOR THE YEAR ENDED 31 DECEMBER 2023 In order to asslsl you to fulfil your duties under Ihe Charilles Act 2011. we have prepared for your approval the financial statements of Hawthome Meadow TTUSI CIO for the year ended 31 December 2023, which comprige the slalemgnl of financial activities and the related notes from the Charity's aco)unling records arHJ from infomiallon an(1 explanations you have given us. As o praclislng member firm of the Association of Chartered Cerbfied Accountants. we are subject to 11$ ethlc81 and other profe88lonal requirements which are detailed al htspsjlwww.accaglobal.comlgblenlmemb8rlslandardslNles- and-slandardslrulebook.html. This report Is made to the charftys trustee8. as a body, In 8ccord#nce wlth the temis of ￿Jr 8ngag&ment letter dated 23 October 2023. Our work ha8 been undertaken solely lo prepar8 for your approval thè flnancial statements of H8Wthome M6adow Trust CIO and stal8 those matters that we h8V8 agreed to state lo the charity's trustees, as a body, In Ihls report In attordanc8 wSth the requirements of the Assoclalion of Chartered Certlfied Accountants as d8tailed at https'.IA•h￿.aCc￿gIoba1.cornICanlèntIdamIAcCA GlobawfechnlcallfacVlechnlcal-factsheet-163.pdf. To th8 full881 extent pemiitt8d by law, w9 do not accept or assume responslbllity lo anyone other than Hathome Meadow ThJ8t CIO and the ch8rfty'6 trusteos a8 a body, for our wod( or for thls rewrt. It16 your duty to 8nsur9 that Havrthome Meadow Tru81 CIO has kopt adaquate accounlng T8cords and to preparg slalutory flnancial slal8m8nts Ihat gfve a true and f81r vlew of th8 assets. IlablliJos. flnancial posltton and deffidt of Hawlhorne Mèadow Trust CIO. Ytyj consld8T that Hawthorne Moadow Tr¢J8t CIO is exempl from th8 Statutory 8udlt requlroment for the year, and Is not requlred to obtain an Indepgndenl examln8¢8 report. W8 hav8 not boan Instructed to carry out an oudlt or a revlew of th8 Ilnanclal 8t8tements of HavAh￿@ Mèadow Trust CIO. For thls reason, we have not v8rifi8d th8 accuracy or complolenass of the accounting r8COTd8 or Informatbn and oxplanallons you have gfven to U5 and we do not, therefore. express any opinlon on th8 Statutory fin8nclal sts18rnonls. C•ladlno Llmlt•d Chart•rnd Cèrtlnod Accountants Chantry Hou8e 22 Upperton R08d Eastbourne East Sussex BN21 1 BF HAWTHORNE MEADOW TRUST CIO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 310ECEMBER 2023 Totsl Total 2023 2022 Not•s Net Incoma for th8 y8arl Net movement in funds Fund balance8 at l January 2023 Fund balane•s at 31 Do¢•m￿r 2023 Thg statement of fÉn8nclal acUvlll85 Includ88 all galns and1088a8 recogn188d in lh8 yoar. The statèment of flnanclal acllvltl8s Indud88 all galn8 and10ss0$ recognlsed In the year. All Income and 8xp9ndllure derfve from conlinulng a¢llvitle8. HAWTHORNE MEADOW TRUST CIO BALANCE SHEET AS A T 31 DECEMBER 2023 2023 2022 N¢te• Th• funds of tho CIO Thg finandal statements were approvad by the truste85 on ...1￿,.￿...￿ Mr D Soulhg te (Chairman) Tru•t•• HAWTHORNE MEADOW TRUST CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ountlng poll¢le$ Charlty Informatlon The CIO is registered with the Charity Commlsslon for England and Wales Ino. 11961191- It is govemed in aryordance with Its Constitution dated 12 Octoter 2021. 1.1 R•portlng porlod The8e accounts are for the Inldal. dormant. period from 12 October 2021 to 31 D8C8mber 2022. 1.2 Accountlng conv•ntlon The flnanc181 ststefflents have been prepor8d in gccordance wllh the CIO'S goveming document. the CharSties Act 2011. FRS 102 "The Flnarrial Reporting Standard 8ppllcable In the UK and Republlc of Ireland" I'FRS 102,1 and the Charllies SORP 'Accounling and Reporting by Charllle8.' Stslemerbt of Rocommended Practice applicable lo charities prgparlng their accounts in accordanc8 with the Financiol Reporting Stsndafd applicable in the UK and Republic ol Ireland {FRS 1021. {effectNe 1 January 20191- Tho CIO is a Publlc 8enofil Entity 88 dgfined by FRS 102. Th9 CIO has tsken advantage of the provlslons In the SORP for chadlles not to prepare o Stalamgnt of Cash Flows. The financlal stataments have dgPOrt9(I from the Charities (Accounts and Report81 Regulations 2008 only lo the extent requlred lo provlde 8 true and fair vlaw. Th18 departure h88 Invdveij followlng the St8tement of Recommended Practlce for charilbes applylng FRS 102 rather than the ver51on of the Statement of R8cornmended Practica which is ref8rrgd lo In thg Regulations but whlch has slncè begn withdrawn. Thè ffn8nelal stolements are prepared In sterllng, whlch Is the ￿nctIOnal currency of the CIO. Mone18ry am¢wnts In th￿8 financ18181alements 8re rounded to the neara8t £. The flnancial 8talem8n15 have been prepared und9r the historlcal cost convonllon. The p￿ncIPal accounting polld88 adopted are sel out below. 1.3 Goln9 ¢on¢•rn Al the tlme of approving tho ffnanclal slalements, the Iruslee8 h8ve a rèasonable expectation that the CIO has adequate resources lo contlnu8 In oper8tlon81 exlslence for the foreseeable futur8. Thus th8 trustoes Gontinuo lo adopt the golng concern b8sls of accountlng Sn preparlng th8 flnanclal statements. In du9 course. the CIO wlll be laklng over thè existing activities of The Hawihoma Meadow Trusl, ch8rtty r8glstratlon numbar 1058375. 1.4 Charltable funds Unrestricted fund5 are available for use al tho discreti¢M of the tw$t￿ in furtheran￿ of theii charitablo objectlves. R85tsiclgd funds arg subject to specific condluons by donors or grantors as lo how they mgy b8 used. The purposes and uses of the restricted funds are set oul in the notes to Ihg financial stalemenls. Endowment funds are subject to specific conditions by donors that the capilal must be mainlaingd by thg CIO. 1.5 In￿me Income is r8cognis8d when the CIO is legally enlilled lo it after any performance wndllions have been meL the amounts can be m8asuied reliably. and it is probable that incom8 will b8 rèc&ived. Cash donations are recognised on receipt. Other donations are recognised once the CIO has been notified of the donation. unless p8rforman¢e conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gift or deeds of covenant is recognised al the lime of the donalion. HAwfHORNE MEADOW TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounllng pollcle8 IContInU￿ Legacies ore recognised on receipt or olhernise if the CIO has been notffied of an impending distribution, the amount Is known. and recelpl is axpgCt8d. If the amount is not known, the legacy is treated as a cor)tingenl asset. 1.6 Exp*ndlture Expgnditure 18 racognisod onc8 th8re Is a legal or ￿nstrUctive obligation to tr8nsf8r economic benefit to Ihlrd party, it is probable that a transfer of ecor￿MiC benefft8 s￿11 be requlred In 8ettl8ment. and the amount of the obligation can be measured reliably. Expgnditure is classSfi8d by acu￿ty. The costs of each actlvSty are made up of the total of direcl costs and shared c08ts, Induding support costs involvod in Underta￿ng each aclivhy. Direct costs attribut8ble lo a single activity are allocatgd directly to thal activity. Sh8red c08ts which conlrfbule lo more than one activity and support costs which are not attribut8ble to o $lngle actlvlty are apportloned b8fv48an those aclivifjes on a basis consistent wlth the uso of resources. Central s18ff costs are allocated on Ihe b8$is of time sFent. aThJ epreclation charges are allocat￿ on the portion of thè asset's use. 1.7 Ca8h and Cash •qulval•nts Cash 8nd cash equlva5ents Include cash In hand. deposits held at call with banks, other ¥hort-t8mi liquld investments with original malurilies of throe months or less, and bank overdr8ft8. Bank overdrafts are shown vlthin borrowing8 in current Ilabilitie$. B•81¢ Ilnanclal •$$•ts Basic financial as8els, whith include debloTS and cash and bank balances, are Initsally measured 8t Iransadion prlce Includlng tfansactlon costs and are subsequenuy carri8d al amortlsed cost using the 8ffedive interest method unless th8 arrangement constitutes a finanong Iransactlon, where the transactlon 18 measured al th8 present value of the futvre receipts diseounled 81 a mark81 ral8 of iDt8re5t. FinancSal asso18 dassified as recelvable within one year are not amortlsed. Baslc Ilnanclal Ilabllftlas Basic linancial li8bililies. indudlng Cfedilor5 and bank loans are 5nlll8lly recognSsgd 81 tr#n8aCtlon prlce unles8 the arfangemenl conslilul8s a fin8nclng transaction, wherg Ihg debt In8trnmenl is measured 8t thg present value of the luture payments dlscountgd at a markel rale of inlerosl. Financial liabilithos cla85iffie(l as payable withln one year are not 8mOrtl8ed. Debt instruments ore subsequently cathed at amortlsed cost, using the 8ffectiv8 interest rale melhod. Trade cred￿0T5 8re obllgatlons to pay for goods or servlces that have been ao4ulred In the ordlnory course of operaoons from suppliers. Amounts payable 8re classified as current li8bllits8s if payment is due wllhin one year or less. If noL they are prasented as non-currenl liabilllle8. Trade ￿adItOrS are recognisod inillally at tr8ns8Ction prtce and gubsequenlly measured al amortised cost using the effective intertssl method. Der6cognlrfon of flnanclal Il•bllltles Financial liabllllies ale derecognlsed when the CIO'S contrdctual f*llgations expir6 ￿ are discharged or cancelled. 1.8 Employee b•n8flts Tho CA)St of any unu8ed holklay entiuemont Is recognised in the period in which the employee's SeN1￿ are received. Tem)inatior) benefits are recognised imm9dialely as an expense when the CIO is dgmonslrably ￿mMitted to terminate the employment of an employee or to provide terminalion benefits. HAVMIORNE MEADOW TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crftlcal a¢¢ountlng èstimates and judg¢m•nt8 In Ihg application of the CIO'S 8CCOLbnting polia8S. the tnjstees are reouired to make judgements. estimates arKI assumptions about the ¢%rrying amount of assets and liabilities th8t ar8 n(rt readily apparent from other sourcgs. The gstimales and associated assumpts'ons are based on historfcal oxpsrience arKI other factors that are considered to be relevanL Actual resulls may differ from these estimates. The eslimales and undertylng 885umptions 8r& reviewod on an ongoing basis. Revisions to accounting estimates are r8cognl8ed in thg p9ri0d in which the e8tlmale 18 fevised where the revision affects only that period, or In the perlod of the revision 8rKI fvlure periods whare tha ftth$lon affects both cuffent and future perfods. Tru•ts•• None of the truste88 lor any pfjrsons connected wlth them) ￿ce1Ve￿ any reMunera￿on or beneffts from the CIO durfng the year. Employ80s The avar8g8 monthly number of employees durfng the year was: 2023 Numb•r 2022 Number Total There were no employees whose annual remuneratlon w88 more than t60,￿0. R•mun•ratlon of key management personn•l The remunèration of key manAg8m8nt personnel was a5 follows: Twtlon The charfty 18 exempl from 1gx•llon on Its acti￿11e8 because all Its InKime1s applied for chaiStable purpo88S. R•l4tgd p•rty transa¢tlons There were no disc108able related paty tran$9Ctions durlng the period.