HandSpark Charitable Trust Annual Report and Financial Statements
For the Period from 1 January 2024 to 31 March 2025
Charity Registered in England and Wales Number: 1201515
HandSpark Charitable Trust Contents For the Period from 1 January 2024 to 31 March 2025
| Page | |
|---|---|
| Reference and administrative information | 1 |
| Trustees’ report | 2 – 5 |
| Independent examiners report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9 – 13 |
HandSpark Charitable Trust Reference and Administrative Details For the Period from 1 January 2024 to 31 March 2025
Trustees
R Beresford A Haynes J Haynes V Haynes C Wigington
Principal Office
Lupin Way Yeovil Somerset BA22 8WW
Charity Number
1201515
Independent examiner
Michelle Ferris BSc (Hons) FCA DChA Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton TA1 2PX
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HandSpark Charitable Trust Trustees’ Report For the Period from 1 January 2024 to 31 March 2025
Report of the Trustees for the period from 1 January 2024 to 31 March 2025
The Trustees’ present their report and accounts for the period from 1 January 2024 to 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, comply with the Charity’s governing document, applicable law and the requirement of the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP FRS 102) (implemented 1 January 2019).
Objectives and Activities
The Charity’s objects, as set out in its Declaration of Trust are “… for the public benefit, to advance such charitable purposes (According to the law of England and Wales) as the trustees see fit from time to time by the provision of grants.”
In practice the Charity intends to fulfil its objectives by making grants as determined by its Trustees and its grant making policy.
HandSpark supports charities which demonstrate sustainable development goals connected to reducing poverty, promoting good health and well-being, improving the provision of quality education, and the tackling of gender inequalities. The charities selected will be involved in at least one of these objectives and will be vetted for financial stewardship and the effectiveness of their impact.
Achievements and Performance
HandSpark is a family-supported grant-making charity established in 2023 which is dedicated to extending a helping hand that sparks opportunities for charities to improve life opportunities and make a positive impact in communities.
During the period HandSpark awarded grants totalling £360,270 (2023–2024: £215,000) and through our match funding grant focus helped partner charities raise £965,174.
Our grants focus on supporting charities advancing the UN Sustainable Development Goals — specifically those working to reduce poverty, promote good health and well-being, expand access to quality education, and address gender inequality. We support charities actively engaged in at least one of these goals, and all grant recipients are assessed for both financial stewardship and impact effectiveness.
Following a review of our grant-making effectiveness, the Trustees embraced match funding as a key pillar of our funding approach. HandSpark’s results this year show that match funding not only amplifies our financial impact but also empowers our partner charities to significantly increase their fundraising and impact outcomes. Donors are motivated by the psychological and financial appeal of matched donations, and charities report that these campaigns attract more media attention and engage new supporters.
HandSpark embarked proactively with our partner charities using two match funding initiatives:
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The Big Give: We supported 15 campaigns in partnership with The Big Give, acting as either a Pledger or a Champion to our partner charities. We are particularly grateful to the Reed Foundation who matched our Champion funding resulting in an eightfold increase in the value of HandSpark’s Champion support;
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Independent Campaigns: A further 8 charities were given match funding grants to support their proprietary campaigns, which resulted in a doubling of the value of HandSpark’s support.
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HandSpark Charitable Trust Trustees’ Report For the Period from 1 January 2024 to 31 March 2025
Public Benefit
The Trustees have had due regard to the Charity Commission guidance on public benefit and consider that the Charity’s aims and objectives comply with this.
Fundraising
The charity does not undertake fundraising activities and therefore does not work with professional fundraisers.
Plans for the future
Grant Making
The Trustees intend to follow their stated policy for making grants to suitable organisations primarily out of the income received from donations by the Trustees. Having identified the Charity’s vision and mission, the Trustees are proactively researching priority areas and identifying the charities that align with the grant making policy.
The Trustees remain mindful of the funding commitments made to our existing charity partners and our funding principle of offering financial support on a medium to long term timeframe.
Early grant application approvals indicate that the Trustees will be able to slightly increase the level of grant making in the present fiscal period.
Governance
In January 2025, we were pleased to strengthen our board of trustees with the appointments of Catherine Wigington and Valencia Haynes. I would like to thank them, along with the existing trustees, for their dedication and contributions.
We are currently undertaking a comprehensive review of HandSpark’s grant application process, including the introduction of a short-form grant agreement, and the implementation of standardised grant application forms and impact reports. The trustees believe it is important that we have clear criteria and procedures to show that funding decisions are objective, consistent, and unbiased. This will build trust with our partner charities while ensuring trustee decisions align with HandSpark’s charitable objects. It is anticipated that these changes will be implemented in early 2026 and will lead to consistent decision-making, enable quicker application turnaround times and improve our ability to measure outcomes.
We are grateful to have the expert guidance and support of Claire Carless, a highly respected governance and compliance executive, who is generously supporting our governance review process on a pro bono basis.
Structure, governance and management
HandSpark Charitable Trust is a registered Charity, number 1201515, and was registered on 6 January 2023. The Charity was established by an unrestricted donation from the John Haynes Discretionary Settlement Trust following an agreement signed on 18 October 2021.
HandSpark Charitable Trust does not actively fundraise but seeks to manage the donations received to make grants in accordance with its objects.
New Trustees are appointed by existing Trustees and there must be a minimum of three.
The Trustees must hold at least two ordinary meetings each year, one of which must involve the physical presence of trustees. The relatively straightforward nature of the Charity’s affairs and the small number of Trustees means that no sub-committees are considered necessary.
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HandSpark Charitable Trust Trustees’ Report For the Period from 1 January 2024 to 31 March 2025
All Trustees are made aware of their obligations when taking on the appointment.
The Trustees serving during the period and since the period end are as follows:
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R Beresford
-
J Haynes
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A Haynes
-
V Haynes (appointed 16 December 2024)
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C Wigington (appointed 16 December 2024)
Risk management
The affairs of the Charity are very straightforward and hence the risks to which it is exposed are minimal. The Trustees have created a grant making policy and a conflict of interest policy to mitigate risk.
Financial review
During the period, the charity was the grateful recipient of funds from trustees amounting to £181,166 (2023 - £225,100). Gift aid claims were delayed through processing by HMRC, meaning that at the period end £339,281 was owed by HMRC (£100,295 of this income was recognised in 2023 with £238,986 being recognised in 2024), with £191,054 having been received at the time of writing.
Total income for the period was therefore £420,152 (2023 - £325,395), and from this HandSpark was able to make charitable donations amounting to £283,520 (2023 - £215,000). £3,150 was spent on governance (2023 - £8,100), leaving a surplus for the period of £133,482 (2023 - £102,295), which when added to reserves from the prior period of £102,295 gives carried forward unrestricted funds of £235,777 (2023 - £102,295).
Due to the delay in receiving funds from HMRC, the charity would have been unable to continue to pay out grants without a further cash injection and therefore one of the Trustees advanced the charity a loan of £150,000 until such time as the gift aid was received from HMRC. This is disclosed in note 7 to the accounts.
Reserves policy
At 31 March 2025, total Charity funds held were £235,777 (2023 - £102,295). The Trustees intend to continue to donate money to provide an ongoing income to enable grants to be made to worthy causes. The Trustees also intend to maintain sufficient cash reserves to enable grants to be made and to give flexibility to make emergency payments to worthy causes as the need arises. Reserves may vary from year-to-year dependent on fluctuations in income and depending on the quality and appropriateness of grant applications. Should reserves increase significantly trustees will consider whether there are larger projects they consider it appropriate to support or whether they consider it appropriate to provide regular funding to a cause or causes over a sustained period.
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HandSpark Charitable Trust Trustees’ Report For the Period from 1 January 2024 to 31 March 2025
Trustees’ responsibilities in relation to the financial statements
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with 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).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for maintaining proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 17 October 2025 and signed on their behalf by:
J Haynes Trustee
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HandSpark Charitable Trust Independent Examiners’ Report to the Trustees For the Period from 1 January 2024 to 31 March 2025
Independent examiners report to the Trustees of HandSpark Charitable Trust
I report to the trustees on my examination of the accounts for HandSpark Charitable Trust (“the charity”) for the period from 1 January 2024 to 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).
I report in respect of my examination of the charity’s accounts 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 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not comply with these records; or
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the accounts do not comply with the applicable requirements concerning the form and content of the accounts set 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 understanding of the accounts to be reached.
Michelle Ferris BSc (Hons) FCA DChA
Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Dated: 17 October 2025
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HandSpark Charitable Trust Statement of Financial Activities For the Period from 1 January 2024 to 31 March 2025
| Total Funds Unrestricted 1 January 2024 to 31 March 2025 Notes £ Income: |
Total Funds Unrestricted 1 January 2024 to 31 March 2025 Notes £ Income: |
Total Funds Unrestricted 6 January 2023 to 31 December 2023 £ |
|---|---|---|
| Donations from trustees 2 |
420,152 | 325,395 |
| Total Expenditure on: Charitable activities 3 Total Net income / (expenditure) & net movement in funds for the year Reconciliation of funds Total funds brought forward Total funds carried forward |
420,152 286,670 286,670 133,482 102,295 235,777 |
325,395 223,100 223,100 102,295 - 102,295 |
The statement of financial activities has been prepared on the basis that all operations are continuing operations.
There were no gains or losses arising in the period that are not shown above.
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HandSpark Charitable Trust Balance Sheet As at 31 March 2025
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31 March 31 December
2025 2023
£ £ £ £
Notes
Current assets
Cash at bank and in hand 50,246 5,000
Debtors 4 339,281 100,295
389,527 105,295
Liabilities
Creditors falling due within one year 5 (153,750) (3,000)
Net current assets 235,777 102,295
Net assets 235,777 102,295
The funds of the charity
Unrestricted funds 6 235,777 102,295
Total charity funds 235,777 102,295
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The notes on pages 9 to 13 form part of these accounts.
Approved by the Trustees on 17 October 2025 and signed on their behalf by:
J Haynes Trustee
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HandSpark Charitable Trust Notes to the Financial Statements For the Period from 1 January 2024 to 31 March 2025
1. Accounting Policies
1.1 Basis of accounting
The financial statements have been prepared in £ sterling on the historical cost basis and in accordance with 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 (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)).
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
Gift aid and interest repayment claims are included in the accounts when the income that generates the claim is recognised, and are included in debtors until received.
1.3
Expenditure
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Grants payable are payments made to third parties in furtherance of the charitable objects of the Trust. 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.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of the grant payable.
1.4 Governance costs
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice.
1.5
Cash at bank and in hand
Cash at bank and in hand comprise of cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
1.6 Debtors
Trade debtors and accrued income are recognised at the settlement amount due after any trade discount offered and any impairment necessary. Prepayments are valued at the amount prepaid net of any trade discounts due.
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HandSpark Charitable Trust Notes to the Financial Statements For the Period from 1 January 2024 to 31 March 2025
1.7 Creditors
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 recognised at their settlement amount.
1.8 Taxation
As a registered charity, the charity is not liable to corporation tax to the extent that income and gains are applied to charitable objectives.
1.9
Fund accounting
Funds held by the charitable company are one of the following types:-
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Unrestricted general funds – these funds can be used in accordance with the charitable objects at the discretion of the Trustees.
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Designated funds – these funds are set aside out of unrestricted general funds for specific future purposes, projects, or reserves.
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Restricted funds – these funds can only be used for the particular restricted purposes within the objects of the charity. Restrictions arise when funds raised are for a specific purpose.
Further explanations of the nature and purpose of each fund are included in the notes to the financial statements.
1.10 Financial instruments
The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:
Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Investment portfolios are basic financial instruments measured at fair value through the income and expenditure account. Prepayments are not financial instruments. Cash at bank and deposit accounts– is classified as a basic financial instrument and is measured at face value.
Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
2. Income
| Unrestricted 01 January 2024 - 31 March 2025 £ |
Unrestricted 6 January 2023 - 31 December 2023 £ |
|
|---|---|---|
| Interest receivable Donations from trustees Gift aid/ tax reclaim on donations |
9,722 181,166 229,264 420,152 |
- 225,100 100,295 |
| 325,395 | ||
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HandSpark Charitable Trust Notes to the Financial Statements For the Period from 1 January 2024 to 31 March 2025
3. Analysis of charitable expenditure
| Grants given to institutions: Given through The Big Give Trust: Bees for Development Turquoise Mountain AfriKids Right to Play Children on the Edge Tree Sisters Step UK See Beyond Borders Global Clubfoot Maternity Worldwide United World Schools World Bicycle Relief UK Childrens Hospice SW The Childrens Literacy Charity Beat Glass Door Homeless Charity Designability Charity Rape Crisis FareShare FoodCycle Bath Rugby Community Foundation Place2Be Friends Prospex The Survivors Trust Crisis Days for Girls Governance costs: Accounts fee |
Unrestricted 01 January 2024 - 31 March 2025 £ 16,250 12,500 10,000 10,000 7,500 7,500 5,625 2,875 2,500 2,000 76,750 50,000 20,000 20,000 20,000 15,000 15,000 10,761 10,000 10,000 10,000 10,000 10,000 6,009 - - - 2,150 1,000 - 363,420 |
Unrestricted 6 January 2023 - 31 December 2023 £ - - - - - - - - - - |
|---|---|---|
| - 25,000 20,000 15,000 20,000 15,000 15,000 25,000 10,000 10,000 20,000 5,000 10,000 - 10,000 10,000 5,000 2,040 |
||
| Independent examination fee | 960 | |
| Legal and accountancy set up costs | 5,100 | |
| 223,100 | ||
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HandSpark Charitable Trust Notes to the Financial Statements For the Period from 1 January 2024 to 31 March 2025
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4. Debtors 31 March 31 December
2025 2023
£ £
Gift Aid/ tax reclaim 339,281 100,295
Total 339,281 100,295
5. Creditors 31 March 31 December
2025 2023
£ £
Accruals 3,750 3,000
Loan 150,000 -
Total 153,750 3,000
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The loan as listed above has been provided by a trustee (see note 7) on a short term basis. It attracts 0% interest and is repayable on demand.
| 6. Analysis of charitable funds Unrestricted funds Total Prior year funds: Unrestricted funds Total |
Fund B/fwd 01.01.24 £ 102,295 |
Income £ 420,152 |
Expenditure £ (286,670) |
Fund C/fwd 31.03.25 £ 235,777 |
|---|---|---|---|---|
| 102,295 | 420,152 | (286,670) | 235,777 | |
| Fund B/fwd 06.01.23 £ - |
Income £ 325,395 |
Expenditure £ (223,100) |
Fund C/fwd 31.12.23 £ 102,295 |
|
| - | 325,395 | (223,100) | 102,295 | |
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HandSpark Charitable Trust Notes to the Financial Statements For the Period from 1 January 2024 to 31 March 2025
7. Trustees and employees
The charity has no employees, and hence none that receive remuneration of over £60,000 (2023 – none).
None of the Trustees (or persons connected with them) received any remuneration during the current period (2023 – none).
The charity received £181,166 (2023 - £225,100) from the John Haynes Discretionary Settlement, a trust of which J Haynes is a Trustee.
The charity paid grants to World Bicycle Relief UK of £20,000 (2023 - £20,000), a charity of which J Haynes is a trustee. There are no special terms imposed on this grant and it was approved in the same way as all other grants paid.
During the period, J Haynes made a loan to the charity of £150,000. The loan is interest free and repayable on demand. At the period end, the amount owed by the charity was £150,000 (2023 - £nil).
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