REfAsTERED CHARtrY NUMBE. 204675 ofthÈT TheHa ieT Armsttor¥J Watson LLP Yotk Hse TIK)mfAd BUne$S P*k Northallerl DL6 2XQ
Pa9e Independent Examinerfs Rep(i Detsiled Statementof FknaKlal Actniits 18 to 19
Har CharitabieTrLtst ofthe Trust The truslees psenL thcyr retxKt wth the financial staterr£t$ of the charty f<x the year ended 30 JLJne 2023 The trust trkave adopted Fxolqsions of Accounting and Report9 by Chaiilies.. Stateit of RecomrrÉnded Practice pkn'cable to charit prep3rng accounts in cOrdan K¥rith the Fina[ fte"ng Standard appbcabLe in the UK and Repubbc of Ireland IFRS 1021 leffectwe i Jathjary 20191 OBJECTfvES ANO AcTlEs Obj£cliv95 and actitis Thtt objectives of the Charity are the advement of relig. thè rew of sick arKI poor. advancement of educa. the relief of persons suffenng from chronK disease. research intothe cause. retief or curè of chronic disease and any olh6Y charitable purpose decided upon by the Trusts in Lheir absdJtediscrelion by way of granl maknng. The Trustces confirm Ihal Ihey have Consider Charily Commigon's gUidCe on pub tnefil when revwing the Trusl's aims and obieclives in planning of fulure ard setbngthe gant making wbcy ftsr Ihe year The nrn adiwbe5 vrertaken by tFE Charity in the year to further its chariiabte wrseS for the pUbC benefil were to raise sufficient fund5 by way of its invesimen& and io di5tritMJte thLYn lo vamus worthy causes that fu1[ Iho critcria sot out in ts obj'ectives The main achevements of thecharrty thring iheyeaT were Ihal sufflen1 furwjs weie rased in order to C¢tinUe with its granl rnaking actmlies. to achieve its obiecb"ve5 foT the Publ bwEfit io improve UE live5 01 the aged. sk and poor and aJva)cement of re"gIOn arKI ethcatK)n. Tho Tnjstees review thi% gnt maknru ptty al quarterty mootings to sure that il reflects the charib.es objectives and thereby VanCeS Wt tnefit. The Charily holds variovs shares in a SLIbs•ary urmyertaknng These shares are held for inVeStnnt wrptses in order to provide inveslmenl income for Charily. Achie¥ements and Perfomiance txjring the year Ihe Charity gewated suffiCnE funds from vthich it is to distributo COnt)Ue its support for thè various worlhy causÈs that fit Ihe crileria of lis objecbves for Ihe rxjblic irIL NÈithÉr a minimum nor a maximum iovd 6 set for granis io be made in the year. The ioblol gfants n'aje yearwas £W.980 (2022 £1254361. The Truslentered into a thre8ye t¥Jrsary grant c<)mmitment to Sheffield Unniersity for len students. for £2.000 each. a lotsl of £20.000 per year The tolal commitnnl is E60.000 and firsl paymÈntwas m)Ye in th& year to 30 June 2021 and the f5nal payment was rywje ¢WrentY Io 30 June 20 The Trusl is again c<)mmitted to a f30.oow) granl lo ihe YoShire Bapb"st sOc.0n for the year to 30 June 2023 The c(xnmilment dor%ab'on to The Ascher Wopcl for £io.000 paid over 2 years was agreed in current year Io 30 June 2023 The Charity also makes granis to a numbÉY of 5rrkiller enlilES tIN3t also ffil criieria set in lis (*'[e5. All grants made, large or smaiL makea substantial diffwence to the benefKsar FINANaAL REVIEW nanclal poslti The chle5 wixk is relnt the investrnent retrES rt YeIVeS frorn ts rwoteyl unquoled investments. its inveslmenl prowrties and nteresL reCv1 on dePlS Trws wKome is uSj to nol only cover the Chariknes running cosis txjt aso to f(JrKJ thegants that it pays to gJPWt its key d4ective5. Quoted investmenis are Ihe subJe¢l ofdiscretKxwy invesltYwI managorwil by Invesiec Wealth and Inve5lments LTD wilh the objective of maXIrnlng overall relurns Tr¥s year the irKorvE achEved was £79.714 Ix>22 E69.8251 The financEI p)yti ol the Charty's subspdoryand its perfomwnce is sh0vM leS io arKi 18 of the accounts. In the current year to 30 June 2023. subsid75 Vestments were transfed over to Ihe c)rItY. The subsidiary was cLosed at 30th June 2023 P1
ofthe Trustees FINANCIAL REVIEW Inv¢dment poticy and obJecifves Tho Trusts Quot invesbrÉnts are tIE subject of dlscretKary Kwc%tmwl troneml by Investec Wealth Investments Ltd with aim of maximiLYng overall relums based on an approxirnate asseialLccation as fcAIows'. Fixed Inlere5t UK Equities cerseaS Equities ComnErci41 Ftoperty Altemabve Assets Cash -z5% 25-35Y. 30-40% o-i0% 0-5% The overall strategy should one of prudence mcderaie risk no indwkknl holdwg wthin the fOLlO exceeding 5% of the totsl value of the portfolio. The sector weK)htirvJs of tho UK Equity contenl of the portfdu should be QadLY in with Ihe composition of the Ff Ail SFHre Ind¢es Tre (Jwily has chosen not to adopt any fomaL soaaL environmenial or ethul investrnenl Wcles Thi5 year Irusl has seen ihe mThmum gross Ir aCj and ha5 sw an irrrease in ihe mart(et value of quoted inv&lmcnts fTom £3.193.858 at 301h Jure 2022 to E4.391.769 at 30th Mne 2023 after adJJsbThJ for th1tn$ and disposaLs durirYJ theyear This movement a150 includes Ihe abs(xption of the 5ubSKI5 a55ets. y-end valLJations are caffd out by Investec Wealth Invesimwts Ltd and Show a weld of 2.59%. wfm.ch was considered sabsfaclory. There was a profil on revaLualion of Lwuoled vestmenL5 of Ei47.950 wa5 Iransferted from end0wmt fund. Reswves poucy 116 normally the wiicy of the Charity to maintain urwestricted furmts whKJ) a fr YerveS of Ihe charity at a level wtrmch equales to al leasi fcKJr io fe ft)nths unreslrled eYP¥Jiture At the mornent the Charily has unrestricied funds Ihat are in excess of th15. The reasons for this are thal 30th June 2<K)8 the Charily reccxved a one off Gifl AKI donab.on of É398,083 on 30th June 2009 ihe unresiitled Teserve fuTh1 of f 197.150 was al transferred to th unTestri¢ted fund as itwas feti that this unrd5tricled reswe furKI was no Iger The Charities reserves FM)i¢y is rN)w Ihat of fixjr kn [e monih5. urw8sirthcl exrKiiture (Aus ba for the exlengve programme of improvements to the invesbreni prowbes chanty OWr and also to increa th& level of granis made in fuLure as charitable appiicatity)s aE be¢omn9 mcKe demanduig offurxl& Gtslng ¢0rt¢gm The tru5lees con9der that tFweare no nptef&3iuncer1at1tsall lFETwstsal"lY io continue as a mn9 cor£ern. FUTURE PLANS The Charily inla5 lo continue w07(ng gTrnts in tPe futu with fruS M its owtives for the pubbc benèfit as it has done in IFe pasl with appbcatK)ns whKh derTYJn51rale5ignifKanl C(xY*ny enhancement eoraged. Page 2
of the Trustees srRIKTVRE. GOVERNANCE AND MANAGEM fwetnlng documgnt Tre Harry Bottom Charitale Trust s constituted a trust ¢Jeed daled 7th Iktober 1960 a regi5lered charity. number 204675 The Truste85 who have served during the Ye and nce the year-erKI are set (t on page 3. The Trust Deed provides the rnmber of Truslees shall nol be tess than foul no more Ihan seven If numbÈr of truslees falls bÈLow four. the numiEr soon as practratrAe shall be increased lo al ieasl fwr. If Ihe Trust requires appoinlmenl of a new iTusiee(sl the w)b"nLang trusts may awoach ihtt original bodies. as wèll as approachng ihird party Lxmies to make such An aPPKxntrrEnt a5 they th[ absolute discret see fit subject to unanimou5 approval by the conbnuing Trusiees of sahl app(Mntmenl 'Chginal tthies. The Yorkshire Baptist Assock3bon IF(xmerly The SheffEid and D6tri¢t ASs0on of Baplst Churche The Cutlers Company in Hailamshire The Sheifielcl Universlty The Lord Mayor Aldermen arKI Citizens ofth8 City of Sheffie Any Truslee except the Seltfy shalt retwe frcm ihe Charity on altaining the a)e ofsevenly-five unless re-aprrt)inled by the conlinui)g Trusts. sh aAy)inimenl tobe rewed annually tlkwftey The financtal siaterMent5 present informatK)n ab(MJt Lhe Trust as irKfvKll undertsking ar not a gTOUP. The reason f¢x not preparing consolidated accounis is included in the Accounting Policies. REFERENCE AND ADMINISTRATIVE DETAILS Registgrgd Chaiity number 204675 Principal address shmans LLP 16-18 Station Road Chapellown Sheffpld S35 2XH Trustees Nr D Handlorth Professor A Rawb"nson Ftrofessor H Wooiiey fteverer W Shaw Nr J L Haltersley Independent Examiner mon Turner Armstrong Watsm LLP York House ThOrnfle Busi$ Norlhalieilon OL6 2x0 Solleliors Wake Smith Sol¢ilors Noi Vei(rity 2 Tenlcy Strèel Sherfld Si 48Y Page 3
REFERE AND ADMINISTRATIVE DETAILS Irwestment Advisers Invesiec Beech House 61 NaerStreet Sheffield Sii 8HA Approved by order d Ihe of on..--. 21nd SW0n it5 belk3Lfby'. Mr D Handforth . Trijstee Page 4
iotheT ble Tru Indopend¢ntoxamwr's I(t tothe tnsteesofThe Harry Boitom CharilthTrust l pOrt lo the tharily tru5t&s on my examinabon of accounts OF The k4arry 8oltrxn Charrtabw Tnsl (the Truso for the year ended 30 June 2023 Responsbikntiesand basis of rewt As Ihe charily Irustees of the Trus1 yw are re5K for Lhe tXepa[a of the accLwJnls in )rdare with ihe requIreffnls of the Charities Act 20111.the Act.). I report in respect of my examination of U)eTrust's acCOts carwJ wl unth¥ SLrbon 145 of the Act a1 in carrying oul rny e¥arTynabon I have followed all aFvItsb tirecbons given by CharityComrkwssKM urr SÈelKM 145(5llbl of I ACL Independent eXaNn05 Statem8nt I have complèled my oxaminalton I clfirM that IK) ratt matters have corne lo my attentKJn in connection with the examination givirg me causè to believe Ihat in any materkHI reSpL accounling records were not kept M respect of the Tiustas require(1 by Section 130 of A¢ti or thc accounis cb not Cord wilh those record& or the accounts do nol comply with the appts"cable requwerrEnt5 conceming the form and content 0fcountS l oul in Ihe Charilies (Accounts arKI Rewrts) ReguL31ions 2008 olher than any requirement ihal lh& accounts give a true and fairview whh is Th)la rTh3tter consKlwt as partof fy)wdentexaninatK)n. I havo m corterns and lve con across Th) other ffotiers in Cne¢"(W} Vth examinatM)n io which atlwli should drawn in this report in order to enable a woper understarKling oFtFe &counts to iE reached Simon Turrer ArmstroThJ Watson LLP York House Thomficid PAASIne Park Northallerton DL6 2x0 Page s
Bottom Charitable Trust the Year Erhaed ne 20 2023 Totsl runds 2022 Total funds Unresiricl End0wmt Noles INCOME AND ENDOWMElS FROM Inv8slment Prowrty Incomè 170.1 170.131 179.428 Inveslment income 79,744 79.744 69.829 Total 24 EXPENDtTUAE ON Raising funds 71. 21248 94.843 161,085 Charitsble activitips RelrOUS GrtS Medical Educat1onaVndry 43.938 37.343 43.938 37.343 33.500 15.235 76,701 54,716 54,D6 61.642 Total 285.291 23248 308. 348,163 NelgalS1oS$esI on investments INcOmE/(EXPENDURE (35416 1203oll) (23B.4271 1410.26* RECONCIUATION OF FUNDS Total funds broughl foN¥ard 933.807 &102.860 7.036.667 7,446,930 TOTALFUNDS CARRIED FORWARD 6.798.240 .036,667 The rK>tes f(m )riOr these fmatyial stal9nt$ PEy6
Botlom 2023 Total funds 2022 Totsl funds Unrestricted Endownmt funds fund les FIXED ASSETS Investm&nts Investments Investment proprtY io li 894.760 3497,D09 2402.840 4,391.769 2.402.840 4647.269 2 402.840 894.7eo 5899,849 6.794.609 7.050.109 CURRENT ASSErs Debtors Cash at bank 71.525 4.748 DS25 4.748 14,208 69,763 76273 76.273 83,9n CREDoRs Arnwnts falling due within eyear 13 (37.6421 137.6421 167,4131 CURREKf ASSETS 38.631 16,558 TOTAL ASSETS LESS CURRENT LIABILMES 933.391 s89).849 6.833240 7.¢)66,667 CREDffORS AmoLJnis falting due after rrK)re than year 14 (3sooo) (3SOOO) tso.oool ASSETS 6.7 7,036,667 FUNDS 16 Unrèstricted funds Endowment funds 898.391 933.807 6.102.860 TOYAL FUNDS 6.7 7.036,667 financk31 stalenEnts were approved by the Bth)rd of Twsiees aulhyised issue on ... .. were signed on ILS behalf by. and Mr D Handforth- Trust ttersley- TS The notes form t of these financial stat[ Pa7
T1 hg FknabxiaL the Yga 0e20 ACCOUNTING POUCIES sof pr¢paratkni The finènckil statements havo been Jyepaied in accordarte wth cPrI[S SORP IFFiS 102) - Accountng and Reporting by Chariii Statement of ReComrrded Practice appbcable to charilies preparing iheir accounts in accordance wilh Ihe Financial Reporb"ng S13Thgard apPile in the UK a1 Rewbbc of IreLand IFRS 1021 leffeclive i January 20191. the Financk4L Retsng StsrKlard appitalAe in Ihe UK and RepJbknc of IrÈLand IFRS 1021 and the chariti Acl 2011. Incomo InvestmÈnt IrKome Income from inv&slments is showi gross and is taken into accounl in the year in vjhth itis r1Vae. Inve5lment meMent costs slw separaLeLy. Rontailncome Reniol income is sIK>wn gross 1h repairs and c(¥nm6sicffis Idir¥j value lded tax ng shown separately. wlve awticatAe. atrftity recognIon abitiLies are reCnISed whwe it is nKxe likely than that twe 15 a Legal or conslrucbve obbgatv)n Committing charrty to pay out reswrces and the anUfit ofthe (t)n can be rnea5ured wth reasonable rtainty. FJpgndltLtre Expendilure is charged on IaCcru31s basis. IrrecoveratAe VAT is charwd to the Stalemwtof FirbancialAciivibes as incurred. Grts offered subicct to ConditrS which have wt mel at yearend date are noted as a Comrrilment not accru&l as expenditu RSIng fuNIs Investmenl rvwnagement costs are ihe inveslmenl WOPErty expGY)ses VeStMent wrtfolD management costs inctjrred. CharitabieJcllv&tl85 Grt expendilure is recorded L¥e the granl has been agreed to paKI at a quarlorty Trustees. rneèlng. Wtrtere trre are prowsK)ns for rwlts-year grants these have rKA bÈen adjust1 for the effects of discountiw as due to interest rales infiation and t1 sPN)rt [ri(X1 ovef which granis are to be paKI. il is not Considered material Charitstts activities also ¢nciLJdes g)vernance costs arKI ap[M)rtnrnCnt of supFh)rt costs GranLs offered subjeci lo corKlilKXS whrh have not been m&t al yearefid date are nolod as a comrnient but not accrued as expenditure. AllOcatk arKI apportlwment of costs SuppK>rt costs trove been allctaied behve8n g0vemare costs arKI other wrwrt Costs. Governance Costs comprise au costs involkirvJ the PU accountatmb.ty Of charity arKI its complon¢e regulat and good practi Thesè costs I[Ue costs relatod to IrKILwd)l examinthon aThJ TrLStees r£muneratkin togelher th an apportionrnenlof overhead arKI ppt costs Fixed a55et knvestment CAJolcd Inveslments are shown al mathel value InvestrrEnt WOFerts are valu* on the i%15 of a mulÈipie of rènts receivable or current market value. Quoted invcstrrwts are valued by the investrnenl advisers lo the charily Unquoled invesirYÉnis are valued at fa value net asset> The main form of fThnckil risk faced by the IarilY s Ifol of volatility in equily and investmenf markets duo lo wider ecorh)mic C(11tX. the albtude of invesior5 lo investmenl risk aThl IFE chanw in wbment conceining equities and are sufflrTi¥sed below. Page8
haitable Trust oA4ne2 ACCOUNnNG POUCIES. continwl Flxed asset investment The main risk Lo Ihe Tru51 frorn financ%al lr6lrufrts bes n the ¢cmbKoti(x) of uncefia"n Vt[TEnt markets and votatiuty in yield. Due lo quanbtstive 08sing ar(1 market sentimenl favounng lower nsk investments. the yield rjn bonds has been abnormally low giving rise to a s¥Jnificanl downsderisk of a fau in capilal values when inlere5t rales retum to normal levels. Althwgh n51 intere5l Tales resulbTWJ from stronger economy and improvod ecoromic activity should be indicate of Inpro9 dividend welds and eq1¥ valLJes. there is a concem ihal Ihe abnormal avaiiabilily of '¢heèp Tnoney to the banknng 5LrLor has led lo wider over-vaUJation of iraded asseis 'asset tubble'l that may depres5 equty values 0e ec]1¢ c(Thdiiwsease. The trust is reb'ant on dividerKI yi4d in pt to finatKe its work and this Icad5 to a greater exposure to international Compan5. the values of whrch t(EethET wilh tFBr yEkl are exwsed to excha rale risk when convertiro ihe holdiryJs inlo $tertg. The (yJtlwk for the slerb'ng exclie rate remains uncortain but has alreody bn discounted by the rrkirkets quidity risk 15 antiopaled to low as all assets are trad and the commilrrwl to i)terventth by cenlral bank5 Ed markel reguialors has conlinuÉd io provKle for ordwiy tsadiry in the marke15 and so thwr ability lo bLry afKI sdi quoted eouiles and slctk s tpated to cOnu8. The InJsts iTrve5tmenls are mainly traded in markets subjecl lo excharBJe controts or trading resirictiOn5. The Iiust manw these investrvEntS li5ks by retaining exwt advisfms arKI operaling an invtnEnt wlicy that OVKfes for a high degree of drversifaln of hcAdiThJs wilhn In[men1 assei classes are quoted on recognised slock exchanges. Tho irusl not make use of t1vate$ and sirniiar complex financHI nslrumÈnis as il take5 iryew that ves1rrED1S are heid for th8r longer term yield toial retum and hisloric sludes of quoted fjnanckil inslruments have 5trK)wn Lhat voiatitity in any particular 5 yoar leric wii wmally be corrected. The trusts subsidiary has an invesimenl In fmano& ir6lrLJmenis whi(J) a¢ managed by the same prOfonal investment ffnagerS and on ihe same basis wtth TefererKe lo risk arxl return In 1"0n to Ihe trusls FxxifolK) of stock market investr¢ts. it hoith a llxed rKrtFolio of pr¢>perti, the bulk of which are residentid houses Irust dwivos substantial ircome fr(m proptrtie5 The main rk to this income Is from changes to 9Xk31 securily bwefits and v) particuL7r the benefits cap which could affecl the tenants. ability lo meet their renis Nol all tenants are on b[Its ar Ih05e that are are £ither on thorlhold assured olstalulory peri1 tenaeS enatAiw the trust to t&e pOsSen re-iei The cuts could however in the longer term reduce potentkal iettiry income. Net galns/(lossesl an Inveslrn Unreali%ed arKI reab.sed ¥)vesttwwtsgains aKJ losses are thown ntrt wi Slatement of w1n¢la1 Acb"vibes Non preparation of con5clidaled accounts The financwl stalements present informabon aFx)ul the trustas an ithdual LMxlatakirvJ and rla group. Dwing the year erthl 3olh ju 20rJ the ctrwiiatAe audit thres1Kd rK)r group accounts u)ShOld are exceeded and therefore charity does noi have lo prepare w0upC(X1nts Taxation The charity is exempt frcKn tax its tharitajAelIViIE5 FdS Tho cndowment of Charity 15 ¢9dered rempnonl irtune aviyng from this endowment is unrestricted incarne Debtors Debtors are measured on iniitat rec(NJnlOrk at seluemenl allnL sWutLY. th ère meèsured at ihe cash cx other con%deralion expecled lo be recEYve(l. PaJe 9
TheHa Bottom CharltalAe Trust t5. eontlnued INVESTMENT PROPERTY INCOME 2023 2022 Doncasier property Wor5kop property Sheffield protkrty Other ground rents & wayleave 26.984 131.349 20.891
7 .984 I.033 36.504 W7 170.131 170.428 INVESTMENT INCOME Z023 2022 Interest & dwKlend5 Depr1[ account inlere5t 79,714 30 69.825 RAISING FUNDS 2023 2022 Portfco nagement Inve5tmenl propety exn$ Worksop property expenses London road flats (Xher ground renis 23.248 24.978 1.681 118.662 15446 320 6L848 9.427 94,843 161,085 CHARrrABLEACTNmESCOSTS Grant furing of actiwtE5 RolbJiOUS Grants Medical EducatK)naV&u)dry 43.938 37.343 ,980 eio
Charltabie T tothÈFI SUPPORTcosrs Cthernan FInae Tota Oihér r850urcos exper 26.467 102 28,147 4.n6 TRUSTEES. REMUNERATION AND BENEF5 20?3 2022 Trusiees. salarie5 6A0 4,580 Twstees, expenses Ttrffte were no Irustees. expenses pa for the yearwwjed 30 ju 2023r for y83r ended 30 June2022. STAFFCOSTS The average rIKthlY nuMbor WrYeeS dUF¥ ts yearwas as fcQLows'. 2023 NIL 2022 NIL The only staff costs pad the year were to trustee> The ranurEration lo the IrustS IS stated in IhE orvJinal trust deed. which is increased by RPI each year COMPARATIVES FOR THE STATEMEKf OF FINANCIAL AcnvmES Lknrestricted fuAS EtKIowMt nd Toial funds INCOME AND ENDOWMENTS FROM Invostmenl ProFErty Income 179428 179.428 Investmenl income 69.82 Totsi 249257 249257 EXPÈNDITURE ON Raigng funds 6.106 24.979 161.085 Charitable aciivities ReiigioLJS Granls Medral Educat1onai/ndry 33500 15235 76.701 33.500 15,235 76.701 Other 61642 61.$42 TotaL 323184 24.979 348.163 Net gains/lLossc%)on investmonts ii. ii. INCOME/IEXPENDrruR (73,927) 1336.336) 1410.26* RECONCIUATION OF FUNDS Tolcil funds brought fow/ard IiKTr7.734 6.439196 7.446,930 Page
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Trust i stat for the Yoar cPARATIVEs FOR THE STATEMENTOF FINANCLOL AcllviTIES-eonlinued Unrestricled funds Er¥Jowment fund Total funds TOTAL FUNDSCARRIED FORWARD 933807 6.102.860 7.036.667 io. FIXEDASSET INVESTMENTS Shares in group urthrtakn.ngs ottrr Investments Totals mAftK VALUE At i July 2022 Adcfitions Disposals Revalual5 Irkyim)ents RedassificatK)n/lransfer 1453AII 3.193.858 749,082 {760.36 4.647,269 749.082 1760.36 147.949 1266,6521 1125.5181 147.949 1266.6521 1,475.842 (L1.360) At 30 June 2023 1.7fj BOOKVALUÉ AI 30 JurE 2023 4.391,769 At 30 June 2022 3,193.858 4.647.2fyJ lllvest Wealth and Investmenis Lid inveslm8nts olthe Trusl wiside thè U i. Quoted investnknts were valued by InvestÉt Wealih arKI InvestlS Lid as al3OU) June 2023. 2 Unquoted investments are valued at 30th June 2023 al faKvaiue ofthe tElSe1$. 3. The investrnents atX)ve0 held wmarily to provxje an inve5tlTWt retum for the clNarity Costor Valuati at 30 Jtjne 3023 is reyesenled by. Oth6Y Investments Valualion in 2023 Cosl 1,197.911 3.193,858 4.391.769 PJJe
Noies tothefina stat IL INVESTMENT PROPERTY FAIR VALUE At i July 2022 and 30 June 2023 2,402,840 BOQKVALUE At 30 June 2023 2.402.840 At 30 June 2022 2.402,840 The above properties are ali investment YOperlS. iheref(Ke account is iaken of deprecial. as they are heid prmarily to prowde investment relwn for the charity. The trustees have val Ihe investrtEnl aThl have a reaSLats1e 4)pr<*ch in valualion. basing Hallgale. East Laittryte. Newfieid CwrL LI¢Y¢) R( ar eA)Ston Street on ten year5 purchase of the ntai irrome. the reguialed lenaOS on Ihe t0 Esiate Work50p are valued al currenl mark&t value as are the cfe.wuiated tenanues (m Ihe Estate and the prO[rtiS at Lon(k)n Roa ThÈ historthl cost of Ihe i)veslnwt proreths 6 £542.413 Q022 E542.4 DEBTORS.. AMOUNTS FALUNG DUE wrfHIN ONF YEAR 2023 2022 other dcblor- Lishmans LLP Rental Deblixs Incorn8 tax repaymLYl Prepayments and accrued inc0e 65A62 2.819 2.183 1.061 13.768 440 71.525 14.208 13. CREDITORS: AMouKfs FALLING DUÉWITHIN ONEYEAR 2023 2022 Bank loans arKI overdrafts tsee te Grants payable Accrued exFenses B.644 50.000 8,769 35.(M)2 2,640 67.413 Page
nded o June 202 CREDITORS.. AMovTrif5 FALUNG DUEAFfER MORE THAN ONE YEIA 2023 2022 Granls payalAe > i year 35.000 .000 U crodilors late to ullrestted funds in t)0th 2023 Kt 2022. The Truslecs have accru¢Yl as a IkAbility grants payable for sludÈnt bursaries distributed to the University of SheflElcl. The bursar5 arè for ten new siu(JenLs chosen each year by Univ¥siLy of Sheffield and Ihe trSar1e5 run for thr years Eath bursary 15 for E2.000 and therefo¢ the lolal commthient s for f60.000. Ttms drraruennt wti run for thr year5. Stwting 2021. after whth il wrtl rewewed in 2024. ALthough the bursaries aTe subject to two w(yess ¢h ar. the siL¥Jents progress is outside control of the trustees arKI Ilwefore. a full aciyual for ths commitm1 15 Trwle. A abilIty has aixj I? wowsed for a further granl lo the Yorkslxe Baplisl Asso(i3tKJn of £30,000 for 2023 1£30.000 20221. The Trust have accrued as a alX1Y grants )Yable lo The Project. The grants are for £5.000 per annum and are to run for a p10d of two years erKling in Je 2024. LOANS An analy95 of the maturity of loans isgNen bdow 2023 2022 Amounts faltiw With yearon demaTh. Bankoverdraft5 8.644 MOVEMENT IN FUNDS Net At At 1.722 in funds Unr8strkted funds Unrestricted Incom& Furn 9)3.807 135,416) B98.391 ErKlowment Fund 6.102.860 12C13.011? 5.899,849 TOTAL FUNDS 7,036.667 12 8.4271 6,798.240 Net moVnent in fu1$. indLKled in alxe are a5 follows.. Ir£omiTrJ resou1$ rtssources Gains and tC>S5es Movemont in funcls Unrestricted funds Unrestriclett Inctsme FurKI 249.875 1285.29 135.4161 Endowmgnt funds Endowment Fund (23.2481 1179.763> 1203. TOTAL FUNDS 249.875 1179.7631 1238A27) Page
Not to thtr Fknanclal slaiemts. eontknued i& MOVEMENT IN FIJNDS- contlnued Net movement in funds At 30.6.22 Al 1.721 Unrestsicted fvnds Unrestricted Incofne FurKI l.(M)7.734 17J9271 933.807 Endowmentfunds Endowmenl FurKi 6.439.196 (336.3361 6.102.860 TOTAL FUNDS 7.446.930 Comparatwe nel movenml in furKls. irKluded n theaLK)ve eaS fcli(N Resources Gains arvj Movement in funds Unrestricted funds Unrestricted lrtccmre Fuwi 249257 Q23.1841 17392X Endowmentfunds Endowment Fund 124.9791 Iyi,357) 1336,3361 TOTAL FVNDS 249257 1348.163) 13ll,357) 1410.2631 A cwrent year rrM)nths arKI pri(x ytrdr rtnths contsth w6it¥)n s asf(liows movernent in funds At 30.6.23 At 1.721 IreStrIcted fu1$ Unrestriclod Inco Fund LW7.TJ4 tt09.3431 898J91 Endowmwt Fund 6A39.196 Is39.34* s89J.849 TOTALFUNDS 7.446,930 1648. 1 6,798,240 PaJe 15
Bottom ChaAlabLe TrtL%t for theyear Ended o ne 202 i& MOVEMENT IN FUNDS- ContUed A currenl year 12 nxjnths and sy)r y&)r c(KnbirEd rEI rrMyErwl in funds, induded in the 8b)ve are as foOwS.. lrtorning resourcos Re5crfJrces oxpcndod Cains arK Movemenl in fund5 Unrestricted funds Unrestricted Income FurKI (608.47 I1.343) Endowment Fund (48.227) 91.0> (539.3471 TOTAL FUNDS 499.132 1656,702) I4.Cl) 1648.6901 Tho un[trted incorye furKI reEYents ihe fur¥Js whth the trustees free to uso in accc>rdance VAth the charii&le obiectpJes a5 Set out in ttrE trust deed. These funds have arisen frcMm income generaied by the permanenl endowm8nL Tho endowment represenis thw assets whh be heid permentlY by the charily, wincipally Investments and properly IrKome arISK CK) the endowment fvnd can be used in accordan with the obieclive5 and 15 included in unrestricied irEie Any caFMlal gains or losses arising on the invlmenls including property form part of the fund. Investment managenwl thwgos relat¥ig to U)e fund are charged against the furKI. It Is fat that ail furKls hold surr(t resour in an arwprkAie f(Km to enable runds lo be applEd accordance wlh any $triCtl0n$. OTHER FINANCIAL COMMITMENTS Movemwt in ¢09rseYI grnnl comn¥iw)is durirKJ tFE ypar anlcommitments recojntsed al sttOrY New granl commilrrents chargay lo %)FA n year Isee Th)le s) Grant5 paKI during IFE year Amount of grant cnrtMents recogrysed a5 al 3oLh Ju[2023 £80.000 £1sB.980 1£168.9801 £70.000 18. BASIS Cf ACCOUNftNG FOR SHARES IN GROVP VNDERTAKING The Financk31 statements present JnforrrotK)n ppid knut Ihe trust as iThJwlual Lmclertaking nol B gioup. The unquoled svbsKliary s an *westJYenl ¢(xwany shares n Ihs C(panY have been treated as an investfftent and included in the financi31 statemenfs at faw vaLu8 of net assets. These inveslmenis are held prinrILY to prowdean investment retum forthe charity. In the CunI yew Io 30th Jure 20Z3. U)e Uvole wbstdory was dis501ved and were transferred into tFE trusl Subsidiary Undettaking Harry 8otlom IHoidirrfJsl Ltd 16-18 Station Road Chapellown SlffiCId S35 2XH Proportion held Jooy. loo" loo" 75% Cum. Pref Share5 of £1 each Ordinary shares of sop eh Cydirwy Shar of£1 ea¢h Pag8 16
Botiom C Not•s to thÈ 18. 8ASIS OF AccouKfiNG FOR SHARES IN GROUP UNDERTAXING- Year-end 30/06/23 21.684 (4.& Year-end 30/06/22 32.300 .669 Turnover Administrativeexpses Gain/Qossl on revaluation ILoo.007) Cain on th5ty)sal 6,260 86.222 Profil (Loss) for fina[year 173.823 33.4 Asso Liabib"b prtal & Re5erve5 L601.361 1.457.958 130,4201 1,427,538 1,601.361 Pe 17
2L)23 2022 INCOME AND ENDOWMErs lrnf951ment Propgrty Income Doncaster proFEriy Worskop prortY Sheffield prot Othw ground rents & wayieave 16.984 131.349 20.891 907 16,984 125,033 36,504 907 170,131 179,428 Investment income Interesl & dividends Deposit accounl ntoresl 79.714 69.825 69.829 Tot& knconlng Yerte5 249,875 249.257 EXPÉNDITURE vestment managementC05ts F)0rlfo1 managemenl Inveslment properly exFEn5es WoFkw prorÉrly expenses London roaj flats otfw grouThJ nts 23248 24.976 1,681 ll8.662 15.446 320 61.848 9.427 320 94 843 161.085 Charitable acuvilles Grants lo institutic$ .980 125.436 Support costs Management Charity aclfftin lees 26A67 35440 Frnance Bank charges 102 Governancecosts Trustees. S4Laries Independenl examiner Insuranco Accountsncy an(1 legal fees 6.405 1640 6.810 12.292 4,580 2.400 8,n7 10.407 28,147 26.w Toial r8source5 exed 308.s 348,163 N•t oxpondllur• bofor•galn5and 105se5 158.6641 198,9061 Realised recognised gainsawKI losses carri forwaid (58.6641 198.9061 This page does form partof slaluiory fwwcial 51atements Page 18
TheH for the Year 2023 2022 Rgali59d recoynlsod 9alnsand Losses Brought fowarcl Realised gain5/11055es> on FLxed aet investmonts (58.6641 (98.906) 1179.7631 11.3571 Net expendlture 1238A271 1410.26y This page does rK>t form part of Ihe statulory fina1 statents p19