THE NOBLE CHARITABLE TRUST Charity Registration Number.. 1196933 ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Office Copy
The Noble Charltable Trust Annual Report and Unaudlted Accounts for the year ended 31st March 2024 Index Page Trustees, Annual Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet 9-17 Notes lo the Accounts (including Accounting Policies)
The Noble Charitable Trust Annual Report and Unaudited Accounts forthe year ended 31st March 2024 Trustees. Annual Report The Trustees have pleasure in subrnitting their Annual Report and Financial Statements for the financial year ended 31st March 2024. REFERENCE AND ADMINISTRATION DETAILS Trustees who served during the period and on the date the Report was approved: Derek William Noble- Chairman Jean Mary Noble Duncan Thomas Noble Matthew Al8Stair Noble Janel Helen Noble Gillian Nancy Noble Registered Office: Clo R21hbones Trust Company Limited, Port of Liverpool Building, Pier Head Liverpool, L3 1 NW Charity Registration Number: 1196933 Company Number: CE027463 Accountant- Rathbones Trust Company Limited, Port of Liverpool Building, Pier Head, Liverpool, L3 Independent Examiner: James Hurrell, Clo 30 Gresham Street, London, EC2V 7QN Solicltors: Ralhbones Legal Services, 30 Gresham Street. London, EC2V 7QN Tax Advisors: Waltons Business Advisers Limited, Maritime House, Harbour Walk, The Marina, Hartlepool. TS24 OUX Investment Managers: Ralhbones Investment Management Ltd, 30 Gresham Street, London, EC2V 7QN Bankers: Barclays, 1 Churchill Place, London, E14 5HP STRUCTURE GOVERNANCE AND MANAGEMENT The Noble Charitable Trust is a Charitable Incorpor8ted Organisalion, whose only voting members are its Charity Trustees. It is a registered charity with a foundation model constitution dated 3rd Dember 2021. There must be at least three Trustees. There is no maximum number that may be appointed. Each new Trustee musl be appointed for a temi of three years by a resolution of the Trustees which is passed at a properly convened meeting. New Trustees are selected in accordance with their connection lo the current Trustees and the Pa'CUlar skills, knowledge and experience they bring to the board to ensure that beeen them they govern effectively and achieve the Ch8rily'5 objectives. Page 1
The Noble Charitable Trust Annual Report and Unaudited Accounts forthe year ended 31st March 2024 Trustees, Annual Report New Trustees wi51 be provided with an induction pack containing information such as a copy of the Charity's governing document, minutes of last Trustees, meeting and the latest set of approved Annual Report and Accounts. New Trustees are also asked lo read the Charity Commission publication 'The Essential Trustee,, and other helpful guidance that is available on the Charity Commission website. Decisions are taken either at a meeting of Charity Trustees or by resolution agreed by a majority of all of the Charity Trustees. Minutes musl be kept of all meetings. The Trustees will hold a minimum of three meetings per year. The Trustees may delegate to committees as they see fit lo ensure the effective administration of the Charity. Risk managernent The Charity Trustees have given consideraliDn lo the major risks to which the charity is exposed and are satisfied that systems or procedures have been established in order lo manage those risks. After considering the areas of goveman¢e, operational, financial, environmental and complian¢e the Trustees have identified that major negative fluctuab'ons in investment a5set5 could cause a material risk lo the Charity'5 funds. In order to rnitigate this risk and in accorclance imlh s15 Trustee Act 2000 the Trustees are establishing a Policy Statement to be adhered to by the Investment Manager. wkiich will be reviewed in line ivith investment performance. OBJECTIVES AND ACTIVITIES In accordance with ils governing document, the Charity delivers public benefit through advancing and furthering such purposes which a exclusively charitable under the law of England and Wales as the Trustees in their diseretion see fit. The major actsvity of the Trust, over the next years. will be to fund the bui5d of a dedicated facilityL for a special aulisti¢ school on Trust owned land. The Charity will also fulfil its objectives by making donations to successful applicants as decided by the Trustees during meetings, giving preference to supporting charities based in Cumbria and North Yorkshire. The Trustees have established a website lo raise awareness of the Charity's aims and objectives. providing the reader with guidance as to how lo apply for funding. Active fundraising will not be carried out. The charity will continue to be funded from girts made by the founders in the short to medium term. The only anticipated costs to raise funds will be incurred by the expendable endowment fund which is invested to generate an income stream, in the form of investment management charges. The Trustees have complied with the duty in s17151 of the Charllies Act 2011 to have due regar(J to the Charity Commission's Public Benefit guidance when exercising any relevant powers or duties. ACHIEVEMENTS AND PERFORMANCE Grant maklng The Trustees resolved lo make donations lotalling £49,900, (£34,800 in 20231 from Unrestricted Income funds. Grants ranging from £100 to £3,000 were made lo 38 charitable causes. A full list of donations made are included in the note 8 to the accounts. P8ge 2
The Noble Charitsble Trust Annual Report and Unaudited Accounts forthe year ended 31st March 2024 Trustees. Annual Report Proje¢t- B Teckenbrough School During the first financial period, the Trustees focussed on the commencement of the project by seeking advice relabng to a legal transfer of land to the Charity, completing the project design, achieving planning consent". appointing building consullanls and undertaking many sile investigations. The Trustees sought legal advice relating to the construction of the lease with Breckbrough including specialist accountancy advice in relation to VAT and compliance with H M Revenue and Customs and the Charity Commission. The Trustees resolved to make a transfer to Designated Funds, earmarking an amount for the project. PLANS FOR THE FUTURE The Trustees, aims are lo finalise the land transfer.. complete the building of the facility for the special school, and continue to make donations to approved applicants. FINANCIAL REVIEW Generous donations were received again, lo be held as expendable endowment eapit81 for investment and lo generate an income. The Trustees may resolve to transfer betr.veen funds al their discretion, 2nd apply funds towards the Charity's purposes at their discretion. During the financial period, investment income and interest totalling £155,012 was received1£37,890 in 20231, with the only c051s to raise funds being investment management fees of £20,6091£7,344 in 20231. The amount spent on the Charity's Activities during the period tolalled £54,8441£55,353 in 20231, which is analysed in the notes to the accounts. The Slalemenl of Financial A¢livilies includes the net gains and losses arising on revaluations and disposals of investments throughout year. Net investment gains tolalled £209.149 (gain5 of £3,506 in 20231. There was a nel increase in funds during the period of £3,297,146 (£1,950,974 in 20231, with lolal funds held as al 31st March 2024 of £5,248,120. Of this amount £112,690 was Unrestricted Income and £712,567 had been Designated, largely represented by cash, and Expendable Endowment Funds of £4,422,863 represented mainly by investments. Reserves The Trustees exelLJde expendable endowment and designated funds when considering the amount lo be held as reserves, as they are primarily held for investment to generate a source of income for the Charity or earmarked for a specific project During the quarterly meetings, the Trustees review the Income posib.on when considering applications for funding and therefore do not consider there to be a need lo require a set amount to be held in Tesetve. Ac¢ordingly, the Trustees Ireal the balance of Unrestricted Income Funds as being held as free reserves. This policy will be regularly reviewed. Investments The Trust's expendable er)dowmenl capital is invested in marketable investments or cash. There are no specific feslrictions under the terms of the governing document. The Trustees have full discretion over the investments. The Trustees have delegated lo R3thbones Investment Management full discretionary day-lo-day control of the investments. Assets are acquired and disposed of in accordance with the powers available to the Trustees as sel out in its governing document and the Trustee Act 2000. Page 3
The Noble Charitable Trust Annual Report and Unaudited Accounts for the year ended 31st March 2024 Trustees. Annual Report Investment Objectives and Perfomian¢e The Trustees have agreed with the Investment Managers the objectives to secure a reasonable growth in income, consistent with the long term preservation of capital in real terms. Investment decisions should be made based on the views of a prudent person in accordance with the standard of invesiment criteria relating lo suitability and diversification. These objectives are reviewed at least once a year al a Trustee meeting. The Trustees wish lo ensure that the objectives outlined above are achieved with an acceptable risk. This implies the need for diversification of investment by the Trust to include a range of assets ineluding fixed interest stocks, UK and overseas shares. Investments comprise holdings in the UK, larger overseas listed companies, unit and inve51menl trusts including those investing in major international markets and also fixed interest securities. The portfolio can therefore include a proportion of medium-sized, or smaller, UK companies and have exposure lo international markets. The Trustees COgniSed and welcome the inve$lment process at Ralhbones Investment Management relats'ng to the Environmental, Social and Governance (ESGI aspects of investing. The Investrnenl Managers are required to operate within the constraints applying lo trusts governed by the Trustee Act 2000. The performance of the fund is monitored and the Trustees review each individual asset class against its appropriate benchmark as will be detailed in the Policy Statement, which is being established in accordance with $15 of the Trustee Act 2000 The Investment Manager provides regular reports to the Trustees who review the performance of the portfolio and of the Investment Manager at least lce a year. The Trustees are satisfied with the t)erformance during the period under review. TRUSTEES. RESPONSIBILTIES The Trustees are responsible for preparing the Tru51ees' Annual Report and Accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resoLtrces of the ¢harty for that year. The Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resource5. including the income and expenditure, of the charity for the financial period. Page 4
The Noble Charitable Trust Annual Report and Unaudited Accounts for the year ended 31st March 2024 Trustees, Annual Report In preparing these accounts, the Trustees are required lo". select suitable accounting polices and then apply them consistently.. obsetve the methods and principles in the Charities SORP IFRS 1021., make judgements and estimates that are reasonable and prudent.. slate whether applicable UK accounting standards IFRS1021 have been followed, subject lo any material departures disclosed and explained in the financial statements," and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity IAccounls and Reports) Regulations 2008 and the provisions of the Trust Deed. They a also responsible for safeguarding the assets of the charity and hence for taking reasonabla steps for the prevention and detection of fraud and other irregularities. As approved and signed on behalf of the Board of Trustees: 80-1 Derek William Noble- Chairman Date Page 5
The Noble Charitsble Trust Annual Report and Unaudited Accounts for the year ended 31st March 2024 lrtde èndent Examiner's Re ort Independent examiner'5 report to the Trustees of the Noble Charitable Trust- charity no: 1196933 I report on my examination of the accounts of the above charity I'the Trust") for the financial year ended 31 st March 2024, which are sel out on pages 7 to 17. Thi5 report is made solely lo the charity'5 Iruslees. as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might stale to the clarity's Irusiees those matters l am required lo slate to them in an Independent Examiner's report and for no other purpose. To the ftjllest exlenl permitted in law, I do not accept or assume responsibility lo anyone other than t.e charity and the charity's trustees as a body, for my examination, for this report, or for the opiniona I have formed. Responsibilities and basis of report As the charity's Iruslees, you are responsible for the prepamlion of the accounts in accordance with the requirements of the Charities Act 2011 1.the Act"). I report in respect of my examination of the Trust's account5 carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement l am a member of an approved accounting body and give due consideration to the provisions of the Revised Ethical Standard 2019 issued by the Financial Reporting Council IFRCI at all times. Rathbones Trust Company has provided accountancy services in accordance with the terms of engagement agreed by the Trustees. I do not report lo the bookkeeper or accounts preparer in any respect. I have completed my examination. I confirm that no rnaterial matters have come lo my attention in connection with the examination which gives me cause to believe that in any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act, or the accounts did not accord with the accounting records, or the accounts did not comply with the applicable requirements concerning the form and CDntenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. 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 understsnding of the accounts to be reached. James Hurrell 30 Gresham Street. London, EC2V 7QN Date P8ge 6
The Noble Charitable Trust Annual Report and Unaudited Accounts for the year ended 31st March 2024 Statement of financial activities Unrestricted Expendable General Designated Endowmènt Funds Funds Funds 2024 2024 2024 Total Funds 2024 Total Funds 2023 Notes Income and Endowment$ from: Donations and legacies Investments other 0 3,008,438 3,008,438 1,972,275 120,248 24,406 34,764 13,484 120,248 34,764 Totsl 155.012 3,008,438 3,163,450 2,010,165 Expenditure on: Raising funds Charitable activities 20,609 20,609 54,844 7.344 55.353 54,844 Total 54,844 20,609 75.453 62,697 Net gainsll105se51 on investments 12 209,149 209,149 3,506 Net Income I (Expenditure) 100,168 3,196,978 3,297.146 1,950,974 Transfer between funds 18 Net movement in funds 100.168 3, 196,978 3,297, 146 1,950,974 Reconciliation of funds: Balance brought forward at 1 April 2023 12,522 712,567 1,225,885 1,950,974 Balance as at 31st March 2024 112,690 712,567 4,422,863 5,248,120 1,950,974 The notes on pages 9 10 17 form an integral part of these accounts. Page 7
The Noble Charitable Trust Annual Report and Unaudited Accounts forthe year ended 31st March 2024 Balance Sheet as at 31st March 2024 Unrestricted Expendable General Designated Endowment Funds Funds Funds 2024 2024 2024 Total Fund5 2024 Total Funds 2023 Notes Fixed Assets Tangible Assets Investments If 12 69,968 4,205,503 69,968 35,394 4.205,503 1.177,868 Total Flxed Assets 4,275,471 4,?75.471 1.213.262 Current Assets Debtors Cash at bank and in hand 13 14 6,475 122,375 25,195 122.197 31,670 21,613 957,139 736,650 712.567 Total Current Assets 128,850 712,567 147,392 988,809 758,263 Liabilities: Creditors.. Amounts falling due within one year 15 16,160 16.160 20,551 Net Current Asset$ 112.690 712.567 147,392 972,649 737.712 Total Net Assets 112,690 712,567 4,422,863 5,248.120 1,950.974 Funds of the Charity Total Funds as at 31 March 2024 112,690 712,567 4,422,863 5,248,120 1,950,974 The notes on pages 9 to 17 form an integral part of these accounts. Approved by the Board of Trustees and signed on its behalf: Derek William No le - Chairman Date Page 8
The Noble Charitable Trust Annual Report and Unaudlted Accounts for the year ended 31st March 2024 Notes to the Accounts 1 Accounting policies Charity Information The Noble Charitable Trust111969331 is a Public Benefit Entity. 11 is a Charitable Incorporated Orgariisalion registered in England and Wales with a foundation model consts'lulion dated 3rd December 2021. Ils registered office is clo Rathbones Trust Company. Port of Liverpool Building, Pier Head, LTverpool, L3 1 NW Accounting convention The account5 have been prepared in accordance with the Charity's governing document, l)e Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS102"1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Praciice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021' (second edition - October 2019- effective 1 January 20191. The 8ceounts are prepared in sterling. which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded lo the nearest £. The accounts have been prepared on the historical cost convention. modified lo include the revaluation of investments at fair value. The principal accounting policies adopted are set out below. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS102 Update Bulletsn 1 not to prepare a Slalement of Cash Flows. Going Concern The Trustees have assessed whether the use of Going Concern is appropriate and have concluded that the Charity has adequate resources and reserves to enable it lo continue in operational existence for the foreseeable future and there are no material uncertainties about the Ch8rity'S ability to continue as a going concern and Ilus the Trustees continue to adopt the 'going concern, basis of accounting in preparing the financial stslements. Charitable Funds Unrestricted funds are available for use al the discretion of the Trustees in furtherance of the Charity's purposes, unless the funds have been designated for other purposes. Designated Fund5 are part of the Unrestricted Funds of the Charity which have been sel aside lo be used for a particular project or commitment. There are no legal restrictions in place. The balance of Designated Funds will be considered by the Trustees when establishing the Charity's serve policy. Expendable Endowment Funds are as declared by the donor and musl be invested by the Trustees or retained lo further the Charity's pijrposes. The Trustees have the power lo convert these funds into income al their discretion. Income generated from expendable endowment funds must be spent furthering the Charity's purposes and is added lo Unrestricted Funds, unless the donor has declared reslriclions. Accounting Period The current period and prior period are of different durations and not immedilely comparible. Page 9
The Noble Charitable Trust Annual Report and Unaudited Accounts forthe year ended 31st March 2024 Notes to the Account$ Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at Cost or v21ualion, nel of depreciation and any impairment losses. Depreciation is recognised 50 as lo write off the cost or valuation of assets less their residual values over their useful 5ives. Assets in the course of construction are not depreciated. Assets under construction are sepaotely identifiable assets which are not complete and in use wilhiri business operations as at the reporting d8te. Until these assets are generating income within the business they are leld in a separate class and not depreciated. Upon compleb'on they will be transferred lo an appropriaie class and depreciation charged. Al each reporting date assets under construction are assessed for impairment. Income Income is recognised on an accruals basis, when the charity is legally entitled to il after any performance condib'ons have been met, the amounts can be measured reliably and il is probable that income will be received. Cash donations are recognised on receipL Other donations are recognised once the cliarity ha5 been notified of the donation, unless performance conditions require deferral of the amount. Income Tax recoverable in relation to donations received under Gift Aid or deeds of covenant Is recogni5ed al the lime of the doiialion. Legacies are recognised on receipt or otherwise if the charity has been notified of an impendin9 dislribulion, the amount is known and receipt is expected. If the amount is not known, the legacy is Irealed as a contingent asset All dividend income 15 accrued when the shareholderfs right lo receive payment is established. 1115 reGorded nel and includes lax deducted only when it is repayable lo the charity- All donations received in-specie are recognised at market Value as 21 the date of the gift. Expenditure Expenditure is recognised when paid or when there 15 a legal or constructive obligaiion for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount cai be reliably measured as al the reporting date. A constru¢live obligation exists where the charity has communicated the comm tmenl to provide particular goods, services or funding to the recipient by the reporting dale and llere 2re no conditione allached lo ils payment falling due after the reporting dale. Provisions for liabilities must be recognised when either the liming or the amount of future expenditure required lo settle the obligation is uneert8in. These are distinguished separately on the balance sheet. If a transfer of resources is no longer required, provisions are reversed and charged lo the Statement of Financial Aclivilies. The method of apportionment adopted for each activ1, to ensure the cos15 of activlties are allocated fairly. are as follows.. Directly- where a cost is attributed to a single activity. Shared - where a Cost is allributable to both aclivittes. Governance and Support- attributed lo both activities and apportioned on the basis of lime spent. Page 10
The Noble Charitsble Trust Annual Report and Unaudited Accounts for the year ended 31st March 2024 Notes to the Accounts Investments Investments held in the fund are included at their market value as follows.. Listed securities are valued al the mid market value ruling at the balance sheei dale. Listed securities held in foreign currencies have been valued at the mid market value and translated into their sterling equivalents at the rate5 ruling al the balance sheet dale. Gills are valued 8t the mid market value ruling at the Balance Sheet date and include interest that has accrued up to that date. Investments are classified 2$ 2 fixed asset except when classified as a current asset where the intention of the Trustees is lo dispose of the asset and not reinvest the proceeds. Other recognised Gains and Losses Realised gains and losses on Investments are cal¢u181ed as the difference beeen sales proceed5 and their market value at the start of the year. or their subsequent cost and are charged or credited to the Statement cf Financial Activities in the year of disposal. Unrealised gains and losses represent the movement In market values during the year and 8re credited or eharged to the Statement of Financial Acb"vilies resulting from revaluing investments to market value dt Lhe Balance Sheet date. Taxation The Charity is not liable to income lax or capital gains tax on its charitable aclivilies. Irrecoverable VAT 15 included in the asset cost or the expense to which il relates. Cash and cash equivalents Cash al bank and in hand is held lo meet short-term cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents include c8sh in hand, depcsits held a; call with banks, other short-lerm liquid investments with original malurilies of three months or less. Financial Instrurnents The Charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 '01her Financial Instruments Issues. of FRS 102 to all of its financial inslrumenls. Financial instruments are recognised in the Charity's balance sheet when the Cli arity becomes paty lo the conlraclual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when the is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financi31 assets. which include debtors and cash and bank balances, are initially measured al Irans2clion price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constilules a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted al a market te of interest. Financial assets classified as re1vable within one year are not amortised. Pag811
The Noble Charitsble Trust Annual Report and Unaudited Accounts for the year ended 31st March 2024 Notes to the Accounts Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recogni5ed at transaction price unless the arrangement eonstitules a financing transaction, where the debt instrument is measured at the presenL value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate me'thod. Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from Suppliers. Amounts payable are classified as current liabilities if payment is due within Oil e year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subseqLtently measured al amortised cost using th8 effective interest method. Cancellation of financial liabilities Financial liabilities are derecognised when the Charity's conlraclual obligations expire or are discharged or ¢an¢elled. 2 Critical accounting estimates and judgements In the application of the Charity's accounty'ng policies. the Trustees are requirecl lo make judgements, eslimales and assumptions about the carrying amount of a5set5 and liabililies that are not readily apparent frorn other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basi5. Revisions to accounting estimates are recognised in the period in which the estimate 15 Tevised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 3 Donatlons and legacies Unrestricted Expendable General Endowment Funds Funds Totsl Funds 2024 Total Funds 2Q23 Donalions.. Investment al value Cash Gift Aid 2,883,000 112,938 12,500 2,883,000 112,938 12.500 278,477 1,681,298 t2,500 3,008,438 3,008,438 1.972,275 Donations receNed by the Founders during the financial year are lo be held by the Trustees as Expendable Endowment Funds. donations were made without conditions attached requiring the chari* lo aller its activities in any way. Page 12
The Noble Charitable Trust Annual Report and Unaudlted Accounts forthe year ended 31st March 2024 Notes to the Accounts 4 Investment Income 2024 2023 UK Equities Unil Trust Income Fixed Interest Overseas Interest Overseas Income Exces5 Reportable Income Overseas Tax deducted at source 26,237 61,312 3,290 8,160 24,357 601 {3,7091 12,409 2, 892 1,264 9,466 (1.625J 120,248 24,406 S Other Income 2024 2023 Bank Interest 34.764 13.484 34,764 13.484 6 Raising funds 2024 2023 Ralhbones Investment Management Fees 20,609 7,344 20,609 7,344 7 Charitable activlties Support Grant Making Project Costs Total Funds 2024 Total Funds 2023 Direct Costs (note 81 Legal and Advisory Fees Governance Costs Inole 91 49,900 49,900 34,800 1,T50 18,803 4,944 4,944 4,944 49,900 54,844 55.353 Page 13
The Noble Charitable Trust Annual Report and Unaudited Accounts for the year ended 31st March 2024 Note5 to the Accounts 8 Charitable activities Grant making.. To Institutions.. Walchtree Nature Scarboccia Macs Herriot House Hospi Care GNAAS Growng Well Combat Stress Motor Neurone Disease Vision 25 Outlook Trust The Backup Trust Ryedale Special Sland Against Violence Royal Agricultural Home Start York House of Mercy The Island N1 Tees Valley Womens Cruse Bereavement Teenage Cancer Trust Scarborough and Ryedale Mountain Rescue The Yorkshire Dale Street Child Whizz Kidz Redcar Baptist Church Masonic Fishing Marie Curie Feeding Britain Frozen Light Amber Bee Survive York Ke5wick lo Barrow Walk Alice Escapes JPC Community Farm The Hepatology Specialist Ward, Leeds General The Children's Liver Disease Foundation British Blind Sport Next Steps Survive Inter Active DEC Ukraine War Appeal DEC Pakistan Floods Appeal Sight Support The While Feather Project Total Funds 2024 Total Funds 2023 500 1,000 1,000 3,000 2,000 3.000 2,000 5,000 1,000 3,000 1,000 2.000 2,000 1,500 2,000 4,000 1,000 1,100 1,000 500 1,500 1,500 2,000 2,000 2,000 2,000 100 200 2,000 200 100 100 1,000 1,500 2,000 200 200 500 750 750 750 1,000 2,000 1,000 600 600 650 1,000 2,000 Page 14
The Noble Charitable Trust Annual Report and Unaudited Accounts forthe year ended 31st March 2024 Notes to the Accounts Donations continued Listening Books FRADE Little SproLtIs Aspire Golden Lion ChiSdren's Trust DEC Turkish Earthquake Appeal Northallerton Samaritans Blue Book Hearing Dogs Galloways Society Happy Days Bendrigg Trust Read Easy UK Leos Neo Natal Russ Devereux He2dlight Rosemere Cancer Complimentsry 1,000 500 1,000 1,500 1,500 400 200 600 500 500 500 1,000 1,000 1,000 1,000 100 2,000 600 2,000 49,900 34,800 9 Governance Costs 2024 2023 Legal Fee Accountancy and Compliance Fee Independent Examination Fee Under provision - Independent Examination Fee Professional Fees Website Costs 12.023 5, 760 1,020 1.500 2,100 1,080 204 60 4.944 18.803 10 Key Personnel and disclosure of Trustee Remuneration and benefits The Charity had no employees during the year ended 31st March 2024. No employees during the period to 31 st March 2023. The Trustees are also the key personnel of the Charity- A transaction involving a Trustee or related paty is always regarded as material. None of the Trustees have been paid any remuneration or received any other benefits from an employment with the Charity or relatecs entity during the year ended 31st March 2024 or period lo 31st March 2023. No amounts were reimbursed to any Trustees for expenses incurred during the period lo 31st March 2024 or 31st March 2023. Page 15
The Noble Charitable Trust Annual Report and Unaudited Accounts for the year ended 31st March 2024 Notes to the Accounts 11 Tangible Fixed Asset - Brekenbrough School Assets in the course of construction Cost at 01104r2023 Additions at value Cost at 31/0312024 Architecture costs Consultants and Planning Other 19.961 15.433 5.400 62,568 2,000 47,135 2,000 35,394 49,135 69,968 12 Investments Value Additions at 01/04r2023 at value S8les Re8lised Unrealised proceeds Gainsl(Losses) Gains/(Losses) Value at 31/0&24 Listed.. Bonds and Fixed Interest UK Equities and Income Overseas Commodities 27.570 97 446,010 3,421,739 673.771 2,273,680 30,517 68.884 1,084 132,6951 279,888 9.911 28,751 901,764 3,165,676 109,312 2,884,251 61,663 149,0391 1,177,868 5,764,400 2,945,914 49,039 258.188 4,205,503 13 Debtors 2024 2023 VAT Receivable Gift Aid Investment Income Receivable 195 25,000 6,475 7,429 12,500 1,684 31.670 21,613 14 Cash at bank and in hand 2024 2023 Cash at bank 957,139 736,650 957,139 736.650 15 Llabllities: Cre(litors.' Amounts falling due within one year Accrual for donab.ons Trade Creditors Other Creditors 2024 2023 4,700 5.500 8,271 6,780 11.460 16,160 20,551 Page 18
The Noble Charltable Trust Annual Report and Unaudited Accounts forthe year ended 31st March 2024 Notes to the Accounts 16 Flnancial Instruments 2024 2023 Carrying amount of financial assets Debt instruments receivable within one year - Debtors C8sh 6,475 957.139 1,684 736.650 963,814 738,334 Carrying amount of financial liabilities Payable within one year Creditors 16,160 20,551 Instrument5 measured at fair value through Statement of Financial Activitie5 Investments at value 4,205,503 1,177,868 17 Conflicts of Interest and Related Party Transactions other Charitable organisations of which a Trustee of this Charity has a direct or indirect interest in are always properly declared, If such a situation arises where a Trustee may be in conflict beeen their duty to act solely in the interest of the Charity and a personal interest then that Trustee does not participate in the decision making process other than to clarify facts. The Trustee must absent themselves from any discussion and will not be counted as part of the quorum in any decision on the matter. All donations were made by the Founders of the Charity, who are also Trustees, namely Derek and Jean Noble. The amounts donated are detailed in note 3 to the accounts. No conditions were att2¢hed which would in any way require the Charity to alter the nature of ils existing activities. No other related paty Iransacts'ons require disclosure in respect of the year ended 31st March 2024 or period to 31st March 2023. 18 Movements between funds Balance at Investment 0110412023 Income Expenditure Gainsl{Losses Balance at 31103124 Transfers Expendable Endowments Investments 1,225,885 3,008,438 120,6091 209,149 4,422,863 Designated Funds Project 712,567 712,567 Unrestricted funds: General funds 12,522 155,012 154.844} 112.690 Total funds 1.950,974 3,163,450 75,453 209,149 5,248,120 Page 17