HAvHORNE TRUST LIMITED {A Company Limited by Guarantee) INCORPORATING THE VISITING CHRISTIAN SCIENCE NURSE SERVICE, LONDON FIELD FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Company Number.. 293710 Charlty Number- 209230
HAWTHORNE TRUST LIMITED GENERAL INFORMATION Charity Ro9lStration Number 209230 Company R&gistratlon Number 293710 Governing Instwmont Articles of Association dated 18th November 2021, as amended. Thè principal aim is to provida nursing cara basèd on Christian Scienc8 principlès. Directors (Trustees) Mr B Blandford Mrs M Chaplin Mr G H Ekins Mrs G A Smith Mr A M Holland Irelired on 17 February 20241 (retired on 15 February 20251 CEOIServices Manager Mr Rex Mendis Registered Offi¢e Charton Manor Gorse Hlll Farningham K8nt DA4 OJT Independent Auditors Kingston Burrowes Audit Ltd 308 Ewell Road Surbilon Surrey KT6 7AL Bankers Lloyds Bank Pl¢ 130 Th$ Broadway Bexleyhealh Kent DA6 7DP Inv•stm8nt Manag8rs Rathbon8 Inv8slm8nl Management 30 Gresham Street London EC2V 7QN & Atomos Investments Limite 16 South Park Sevenoaks Kent TN13 1AN Solicilor Stoftè Klns Boundary House 91 Charterhouse Strèat London ECIM 6HR Insurance Brokers Arthur J. Gallagher Insurance Brokers Limited T6mple Circus House Temple Way Bristol BS16HG
HAWTHORNE TRUST LIMITED Page fj TRUSTEES. ANNUAL REPORT The Directors (Trustees} known as th6 Board have the pleasure of prosenting Ihair annual report and audited rinancial slalemgnts of Hawthorne Trust Limited IHTLI known as the Com pany for the year éndèd 30th Septem ber 2024. REFERENCE AND ADMINISTRATION DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS Details of the Current diroctors and advisors are shown under General InfoTm81ion. MISSION AND OBJECTS Our mission is to support the Chrislian Science Nursing ministry. The objects for which the Company 1$ èslabllshed are lo providg and maintain in England a Christian Scignce House being 8 nursing home operated in accor(lanoe with the practice and principles of thé body known as the Church of Christ. Scientist and to operate a Christian Science Visiting Nurse Service. The activity in both these area$ ¢e8$ed as from 1 Oth May 2023. The Board consider that the reinstatement ol a Chdstlan ScSen¢e House is not financially possible In tha short term. A sislor trust Imhitehaven has undertaken to operate a Christian Science Visiting Nursè Sèrvica and the Board sees an opportunity in Supporting this activity in the London and South East Brea. REGULATORY BASIS The Board 8re Currently examining alternatlve ways forward in Ilne wllh Charlty Commlssion and Company requirements. ACHIEVEMENTS AND PERFORMANCE With the closure of Charton Manor, tha Board has focused its charitable activilies on the support of Chrlstian Scien¢9 Nursing carè in the private homes of pallgnts. The lollowing servi¢e$ are provid8d'. Ordering of nursing supplies on behalf of Visiting Chri$ts"8n Science Nursing Services and indSvlduals Landing nursing equipment The Board also recognises tha im portance of the training and development of Christian Sciencè nurses to meet urTenl and future demand for Christl8n Set8nce nursing service8. Three Christian Science nurses followed up on the Company's off¢r to support them financially to undertake refresher training. which they completed in OctoberlNovembér 2023. The Board a180 allowed Charton Manor Nurses Training Centrg lo be used to train Christian Science nurses.
HAWTHORNE TRUST LIMITED Page 2 TRUSTEES, ANNUAL REPORT- CONTINUED FINANCIAL REVIEW Total donation$ re¢eived were £17,359. Total Investment Incomè for the year was £141.222. Total leg8cies r•c8ived amounted to £168,712. Including r081ised and Unall&¢d gains on invgstmenls £493,006, net expendlture for Ihe year was £117.909. RESERVES AND RESERVES POLICY From an accounting standpoint, and the context of Ihe Company, 'Reserves' means the total value of assets tess the lolal value of liabilities. Total valLJ8 of assets comprises- 11 Tangible frxed assols (land. bull<Jlngs. motor vehicles, equipment) 21 Investments (investments managed by Rathbone Inveslm8nt Managefflenl Ifomierly Inve8t8c Wealth & Investm?nl Ltdl and Atomos Investments Limitedl 31 Debtors {mainly reimbursetllgnt for nUTSlll9 supplies orderodl 4) Cash at Bank and in hand. Total value of liabilities comprises amount owed to cr8ditors lamounls owing to traders and businesses, and to HM Revenue and Cusloms for staff PAYE and National Insurance contribulionsl. Tot81 Reserves as of September 30. 2024, were £6,959,8651£7,077,774 in 20231. which may also be considered as funds. The value of the tangible fixed assets has decreased to £1,611,921 12023.. £2.134,6141. These con8181 primarily of the buildings and are consIded 'fixed' In the sense that they could not be sold readily to generate cash without underfflining tho ongoin9 work of the Company. The Board obtaintrd a professional valuation of th¢ property in Januaiy 2024, which was valued at £2,450,000. Invèstm8nts are assets that could b8 8aslty turned Into cash (also ref8rr8d to as 'liquid ass•ts'l. Th8 valu8 of thèse a5 of September 30, 2024 w88 £4,623.253 and they provide a flnanclal contribution lo Hawthorne Trust's income each year. The investment income represented £141,222 meeting approximately 15% of HavAhorne Trust's expendilurg. Investment incDme will vary with levgl of reserves and wnaiket ¢onditions, bul over the la31 10 yeais has produced a valuable income in excess of £1,000.000 for the Company. 11 is the policy of the copanY lo 8dd to or draw on these investments as operating conditions Of the Hawthorne Trust demand. In 2024, total reserves decreased by £117,90912023= decreased by £505.9241. The Balance Sheet and Notes to the Accounts give fL*rther information on creditors. debtors and cash in hand. The funds are explained in Notes 18 and 19 to these accounts. Of the total of £6,959,865. £544,885 is held in the VCSNS Fund {r8strietad funds for this activity). Th8 r8mainder is 8vailBbl8 for th8 Oth8r activitias of the Company. some through rastrlcted funds. RISK AND UNCERTAINTIES The Board conclud8d their annual Risk Assessment Review in December 2024 lupdateé January 20251 and drew up a revised Business Continuity Plan IBCP) to address specific steps to be taken in the event of any major intettuptlon lo tha ongoing activities of tha work of the Trust. The principal risks and uncgrtainties idèntified wère satisfled by regular Fire Drllls and other Irainlng lo keep staff aware and alert lo thls requlrement,. clear pollcie$ governing safeguarding for stsff,. compliance with Health and Safety IH&S1 needs. The Trust remains ready and alèrt for annual Health and Safely inspections. Part of the rlsk assessmenl each year is our insurance pollcy. which includes a liability section for etllployers and the publi¢. as well as directors, and offi¢er$' indemnity. The Trust continues to relain consultants in Human Resources IHRI and H&S lo support these areas of risk.
HAWTHORNE TRUST LIMITED Page 3 TRUSTEES, ANNUAL REPORT- CONTINUED PUBLIC BENEFIT The Trustees havè had regard lo the Charity Commission's guidance on public benefit. and we have abided by the underlying premise that none shall be dènièd the care they need because they cannot meet the cost. This guidance will und9rpin the planned activity of the Hawthorne Trust as we move forward. STATEMENT OF DIRECTORS. RESPONSIBILITIES rhé Directors (who are al30 th8 Trustees of Hawthorne Trust Llmited for the purpose5 of charity lawl are responsible fgr pparIng the TTugtè8s' R8port and endorsing the financiBI statements in a¢¢ordan¢e wlth applicable law and Unitèd Kingdom Accounting Standards {Uniled Kingdom Ganerally Accepted Accountin9 Praclicel- Company law requires the Directors of the charitable company to prèparè. fDr each financial year, financial statements which give a true and fair view of the C(>mpany's stale of affair8 an of the incomino resources and appll¢8tion of resources, including the Income and expendlture. In preparing these linan¢ial statements. the Oirectors are requirgd to.. Selecl suitable accounting policies and then apply them consistently., Observe the melhods and prlnciplès in the Charities SORP., Make judgements and èstimates that are reasonable and prudent- State whether appli¢¥ble UK Accounting standards h8vè bèen followed, subject to any tnaterial departures disclosed and explained in the flnan¢ial report., Prepare the financial statements on thè going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Directors are responsible for ke$plng ad8quate accounting records that disclose with reasonablè accuracy al any time the financial position of the ¢harltable company and enablé them lo ensure that the financial ststemenls comply with thè Companies Act 2006. They ale also responsible for safeguardin9 the assets of the charitable compBny and hence lor taking reasonable steps for thè prèvention and detection of fraud and othèr irregularities. In $0 far as the Directors ar8 aware.. IheTe is no relevant audit information of which the charitsble cownpany's auditor is unaware-, and the Directors hav8 taken all step5 that they ought tu have taken lo makè thèmselves aware of any relevant information and to estsblish that tha asjditor is aware ol that infom)ation. AUDITORS Myrus Srnilh, ChgrtÈr@d AccoLtntants were appointed as auditors and following tho take-over of their busine$$. Kingston Burrowes Audit Ltd look over the role of auditor. A résolution to appoint or reappoint auditors was put to the Annual Genèral Meeling. This report has begn prpFiared in a¢cordancÈ with the special provision8 of Part 15 of the Corn panies Act 2006 ralating to small companies. By Ordgr of the Board Charton Manor Gorse Hill Farningham Kent DA4 OJT G H Ekins Director 25 June 2025
INDEPENDENT AUDITOR'S REPORTTO THE MEMSERS OF Page 4 HAWTHORNE TRUST LIMITED Oplnlon W8 hav8 audited th8 financial statam&nts of Hawlhome Trust Limited Ith8 'chBritabla company'l for the yèar endtrd 30 Sgplembor 2024 whlch comprise tha Slatemenl of Financial Activities, the Balance Sheet, the Cash Flow 81alement, note8 to the financial 8tatements. including a summary of significant accounting polici8S. The financial reporting framework that has been applied in their preparation is applicable law and Unit¢d Kingdom Aecounting Standards, including Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financihl statements.. give a true and fair view of the state of the charitable company's affairs as al 30 September 2024 and of its incoming resources and application of resources. including its income and expenditure. for the year then end8d., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pracl¢e', and have been prepared in accordance with the requirements of the Companies Acl 2006. Basis for opinion We conducted our audit in accordance with International Standar(Is on Auditing IUKI IISAS (UKI} and applicable law. Our TÈsponsibilities under those slandards are further described in the Auditor's responsibilities for thè Audit of tha financlal st8temènts sectlon of our report. Wè arè indepèndènt of thè eharitablè Company in accordance wllh the ethical requlremenls that are relevant lo our audit of the financial statements in the UK, includin9 the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these roquirgments. We belitrve that the audit gvidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing th& financial statements, we have eoncluded that the tru$teÈ3' use of the going concern basis of accounting in the preparation of the financial slalement5 is appropriate. Based on Ihe work we have performed, we have not Identified any materlal uncertainlles relatlng lo events or conditions Ih8t, individu8lly or eollectively. may c8St significant doubt on thè eharitablè company's ability to continuè 85 a going concern for a period of at least twelve months from when the financial stslemenls are authoris8d for issu8. Our responsibilities and the responsibilltles of the truslees wlth respect lo golng concern are des¢r5bed In the relevant sections of this pOrt. other Inforniatlon The other infomiatSon comprfses the Informallon Included in the Irusteè8' 8nnu81 report. othèr than the financial ststements and our auditor's report Ihereon. The Iruslees are responsible for the other information. Our opinion on the financial statements does nol Cover the other information and, except lo the exlenl otherwise explicitly slated in our report, wg do not express any form of assurance conclusion thereon. Our responsibility is to read the tslher information and, in doing so, consider whether Ihe other information is materially inconsistenl with the rinancial statements or our knowledgè obtained in the course ol the audit or otherwise appears to be materially misstated. If wè idèntify such matarial ineonslstenciés or apparent matéri81 mlgstatèmènts. w$ are required to determine whether this gives rise to a material misstalemenl in the financial statements themselves. If. based on the work we have perfomed, we conclude that there is a material misstatement of this other information, w8 are requlred to report Ihal fact. We have nolhin9 to reporl in this regard.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF Page 5 HAWTHORNE TRUST LIMITED Opinion on other rnatters préscrlb•d by the Companies A¢t 2006 In our opinion, based on thè work undertaken in Ihg cours8 of the audit- the information given in the Tiustees, Annual Reptsrt, for the financial year for which the finan¢ial statements are prepared, is consistent with the financial ststements-, and the directors, report included withln the Truste95' Annual R8POrt has been prepared in accordance with applicable legal requtrem&nts. Matters on whlch we are requlred to report by exc•ption In the 15ght of the knowledge and undèrstanding of the charitable company and its environrnent obtainad in the course ¢f thè audit. we have not identified matarial misstatements in the Trust¢es' Annual Report (whlch InrpOrateS the dire¢tors' rèportl- We have nothing to report in respect of tho following matters in rel8t¥)n to which the Companie5 Act 2006 requires us to report lo you rf, in our opinion.. adequate accounting records hav8 not been kept by the charitabl2 company or returns 8dequat¢ for our audit have not beon received from branchés not visilad by us- or the charitable company financlal statements are riot in agra•m8nt with the accounting rgcords and retums-, or certain disclosures of trustees, remuneration Spècified by law are not rnade., or we have not ¢eNed all the information and explanations we require for our audit ', or the trustees were not entitled to prepare the financl81 ststements in accordancg with tha sm811 companies. reglme and tak8 Bdvantage of the small companies, exemptic>ns Sn preparing the Trustees, Annual Report and from the qrment to prepare a slralegic report. R•$p¢nslbllttlg8 of trustees for th• financlal statemonts As explained mora fully in the tru8teBs' rgsponslbilities statement sèt out on pa9e 3, the truslegs {who are also the d1ctorS of thg ch8ritsblg company for the purposes of ¢ompany lawl are responsiblè for the preparation of thè financial statements and for being satisfied Ihal they give a true and falr view. and for such int8m81 control as the trust88s d8termlne is n8ces$ary to enable the prepar8tlon of ffnancial slaternenls that ar& freg from malerial misststement, whether due to fraud or eiror. In preparing th8 financial slalements, the Itustees are responsiblè for 8ssessing the charitable comptny's ability to continue as a going concern, disclosing, as appllcable. matters rélatèd to goin9 concern and using the yoing concem basis of accounting unless the Iruslees ef(her intend to liquidate the charitablg company or to ceasè oparalions, or have no reali¥ti¢ alternative bul to do so. Audltotrs responsibllltles for tha audlt of the fin#n¢i•l statem•nts Our objectives are lo obtsin reasonable assurance about whether the financial stslemènts as a whole are free from rnaterial misstatement, whether due to fraud or error. and to issuè an auditor's report that includas our opinion. Reasonabl8 assurance is a high level of assurance. but is not a guarantèè th8t an audit conducted in accor(lance with ISAS IUKI will always d&l8Ct a material Tnisslalemenl when it exists. Mis$l3teMèntS C8n arise frorn fraud tsr èrror and are considered material rf. individually or in the aggregat¢, they could reasonably bè xpected to influence the economic decisions of us8rs taken on the basls of those flnancial statements. Irregularitie$, Sneluding fraud, are instance¥ of non-compliance with laws and re9ulations. We d$sign proGedures in line vrith our responsibilities, oullin8d abDve. to detect material misstatèments in spect of irregularities, Including fraud. Thè èxtent to which our proGeduies are capable of detectirbg irregularities, including fraud Is dètailed below..
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF Page 6 HAWTHORNE TRUST LIMITED Auditor'$ To$pon$ibilitio$ for the audit of tho flnan¢ial $tatem¥nts {¢¢ntinuodl Enquiry of managernenl and those charged with govemancg about actual and potential liligalion or claims and the idenlificalion of non•compliance with laws and regulations. Reviewing minutes of m981ings of those charged with govgrnance Reviewing financial statement disclosures and testing lo supporting documentslion to assess compliance with applicabl¢ laws and regulations. Auditing the risk of management override of controls, including testing journal entries and other adjustments for appropriateness., asses$ing whether the judgements made in makin9 accounting eslimales are indicative of 8 potential bias.. and evaluating the business rationale of any signwlicant transactions that are unusual or outside the normal course of business. Performing analytical procedures lo identify any unusual or unexpected relationships that may indicate risks of matèrial misstatèment to fraud. Professlonal sc8ptlcl$m In course of the audll an(1 wlth audit sampling In mat&rlal audlt areas. Be¢au$e of the inherent limitstions of an audit, there is a risk that we will not dete¢t all irregularities, including those leading lo a material misslatemenl in the financial statements or non•compliance with règulation. This risk increases the more that compli8nc8 with a law or r8gul8tion is removed from tho events and transactions reflected in the financial Statements, as we will b8 less likely lo become awar8 of instances ol non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentlonal Concealment, forgery, colluslon, omission or misrepresentation. A further description of our responsibili118s is availabl8 on tho Financial Reporting Council's website at= www.frc.org.uklauditorsresponsibilities. This description forms part ol our auditorfs report. Use of our report This report is made stslely lo the chable ¢ornp8ny's m8Tnbers, a8 a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's rnembers those matters we are required to slate to them in an Auditor's report and for no olhfjr purpos&. To thè full851 extent perm1tt6d by law, wg do nol 8ee8pl or assume responslblllty to anyone other than the charitable company and the charitable company's rnernbers as a body, for our audit work, for this report. or for the opinions we have formed. //L61- Kevin Fisher BA FCA CTA Senlor Statutory Auditor For And on behaff of Kingston Burrowes Audit Ltd 308 Ewell Road Surbiton Surrey, KT6 7AL 24 June 2025
HAWTHCIRNE TRUST LIMITED Page 7 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE) FOR THE YEAR ENDED 30TH SEPTEMBER 2024 Unrestricted Restricted Funds Funds Total 2024 Total 2023 Notes In¢ome from: Donatlons and1898CI88 186.051 20 186,071 621,734 Ch8rit8bl8 8cIFvitses.' Contrlbutions received 15,368 15.368 375,416 Investment incom8 116,308 24,914 141.222 133,783 Total Incom• 317,727 24,934 342,661 1,130,933 Expenditurè on: Cost of lsing ftinds_' Investrnent management fee5 22,454 8.493 30,947 32,067 Expendituro on charrfal)le acfivities.. Provislon of car8 seMcè8 924,256 11,6271 922,629 1,628,861 Total èxpandltur 946,710 6,866 953,576 1.660.948 Net Ineomellexpetwjilurel before investment gains 1628,9831 18.068 1610.9151 1530.0151 Nel gain¥ on investsnents 15 4Z3,430 89,576 493,006 24.091 Net Incomellexp0nditure} 10 1205,5531 87,644 {117.9091 1505,924) Tr8nsfèrs been fvnd5 18 10,788 110,788) N•t Movement In Funds 1194.7651 76,85 (117,9091 1505,924 R•conciliatlon of funds- Fund balances at the start of (he reporttng pèriod 18 6,344,836 732,938 7.077.774 7.583.698 Fund balanc•s at the end of thp roporting perlod 18 6,150,071 809,794 6,9S9,865 7,077,774 The Ch8ritsble Company had no recognisèd gains or losses other thon those disdosed in the Statement of Finandal Activilies abovg. AU activiti8s are continu*ng. The Lmrestricled funds are general funds of the trust and the restricted funds are made up of.. The Benevolent Fund, The Brènda Woodcock Memorial Fund, The Vislling Christian Science Nurse servi Fund, The Chrisli8n Scièncè Nursès Fund and The Charton Manor Staff Fund. The notes form part of thèse Fknancial Slatements
HAWTHORNE TRUST LIMITED Pag8 8 BALANCE SHEET Compariy Number. 293710 AS AT 30TH SEPTEMBER 2024 2024 2023 Notes FIXED ASSETS Tangible fixed assets Investments 14 15 1,611,921 4,623 253 6.235,174 2,134,614 4 188 495 6.323.109 CURRENT ASSETS Debtors Cash al bank and in hand 16 40,312 108,551 753,661 828.055 CREDITORS: amounls falling due within th)• yèar 17 NET CURRENT ASSETS 724.691 TOTAL ASSETS LESS CURRENT LIABILITIES 6.959.865 7 077 774 THE FUNDS OF THE CHARITY Unrestricted Gengral Funds 18 6,150,071 6.344,836 Restricted Ha10m6 TnJ8t Icharton M8norl Benevdenl Fun¢Y Brenda Woodcock Memorial Fund Visiting Christian Science Nurso Service Fund Chrfstian S¢ien¢e Nursgs Fund Charton Manor Stsff Fund 18 18 18 18 18 264,251 544,885 256.992 474,446 1.500 13021 TOTAL CHARITY FUNDS 6 959 865 7.077.774 The financial statements have been prepared in accordan vAth the sp9clal provlslons for small companSes under Part 15 of the Compenies Acl 2006. Approv¢<l and authorised f¢r issue bylhe Board of Direcl(Ks {Trustsgs} on June 2025 arKJ signed on its behalf by.. Diredor (Tmst¢¢) G H Ekin$ Director (Trusteel G A Smith Thè notèg form part of these Financial Statements
HAWTHORNE TRUST LIMITED Page 9 CASH FLOW STATEMENT FOR THE YEAR ENDED 30TH SEPTEMBER 2024 2024 2023 Cash flows from operatlng actlvlt18S: N8t movement in funds for the year <117.9091 1505,9241 Depreciation charges Investment income Gain on the disposal of fixed assets Gains on investmènts Decreasellincreasel in debtors IDe¢rèas8yincrease in CTeditors Net cash used In operating activities 536,962 {141,2221 {2,1201 (493.OC161 68,239 144.420) 79,069 1133,7831 124,091) 144,967) 8,577 {193.476) {621,1191 Cash flows from Invèstlng activitles: Inv8Stmenl income 141,222 133,783 Purchase of t8ngibl8 fixed assets Purchase of fixed asset investments Proceeds from the sale of tangible lixed 4&5ets Procèeds from the sale of fixe¢J asset investments Cash (added toydeducted from Investment cash 115,6491 1368.5081 3,500 437.882 111.126 157.7021 11,053.3881 1,802,198 43.314 46.099 734,422 Nèt cash provided by Investing activitlès 187,321 868,205 IDe¢rèas•)Ilncroaso In cash and ¢#sh •qulval6nts In the y•ar 16.155) 247,086 Cash and Cash èquivalents at the beginning of the year 719,504 472,418 Total cash and cash 9quivalènts at th• end ofthe year 713.349 719.504 The notes form part of these Financial Ststamants
HAWTHORNE TRUST LIMITED P8g0 10 NOTES TO THE FINANCIAL STATEMEWS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 1. ACCOUNTING POLICIES Tha finan¢i81 s181ements have been prepared in accordance with applicable accounting standÈrd5 issued by UK accountancy bodies. The particular accounting policies adopteij aro described bdow. lal Basis of preparation The financial statements have been prepared in ardance 1 ACrjnI1ng and Reporting by Charities.. Statement of RecommetKled pCtIce appli¢abl8 lo charities preparing their accounts in accordan¢e wth the FinanThal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191- (Charities SORP 2019 IFRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}, the Ch8ribe$ A¢1 2011, the Companies Act 2006 and UK Generally Accepted Practice. Ha0m8 Trust Limited meets the deftnltlon of 3 public benefrt entity undgr FRS 102. Assets and liabilitios arg initially recognised al historical cost or transaction value, as modrfied for the revaluation of inVestThts. Further lo a Unrting Direction issued by the Charity Commission, the financi ststements aggregate the results and net asseis ot the Visitin9 chriStn S¢i9nGe Nurse SeNic8. London Field, Charity Registration nUMr 209230-1. Significant estimates and judgements Include the assessment of the useful lives and residual values of Freehold land and [1d1[J$ and other fe assets and the assessment of Bpprow"ate rnles vf depreciation. The signifiGant accounting policies applied in the preparation of th fin8na81 statam8nts are set tsut below. These policies have been conslslenlly applied to all yeats presented unless otherwise stsled. The company nuner and regi*red office of the wrnpany is given in the general infomTrlKJn. Ibl Charitablg company ststus Thè ehanty is also a private company limited by guarantee and is l$le[ed in England and Wales. In the event of the charity ing wound up, e8eh mèmbèr is liable to contribute an amount not exceeding £1. IGI Prepaolign of tho a¢¢ounts on the going concern basi5 Th8 charity has tot81 fkjnds carried forward of £6,959,865. The Iruslees are of the eW that this is more than SLrfficienl lo secure the long temi fulure of th8 charity and that on this basis the chaty is a going concem. Id} Inu>me In¢ome is recognised when the charity hBS entilement to the funds, any perfomance conditions attathed to the itemlsl of income have been mèt, it is prObae that the ineome will be received and the 8mounl Can be measured reliably. I contributions arise in respect of th8 charitys continuing tiVItieS. For legacies. entitlement is takBn as the e8rkner of Ihg date on which either.. the charity is aware that prob810 has been granted. the estate has begn finalised and notificadon has made by the execulorlsl to the Trust that a distribullon Mll bè madè, whén 8 distribution is received from the estate. Receipt of a legacy. in vA)ole in part. is only considered probable when the amount can be measurgd reliably and the ¢h8rity has been notified of the executorfs intenl'on to make a distribution. Where legacies have bn nolilied to the charity. or the tharity Is awa of thè granting of Probate. and the criteria for income recoynib.on have not been mel. then the legacy is Irealed as a contingenl asset and disclosed If material. Recetpls of property. investmenis or other gits in kind are induded at mad(el valu&.
HAWTHORNE TRUST LIMITEO Page11 NOTES TO THE FINANCIAL STATEMENTS- continuèd FOR THE YEAR ENDED 30TH SEPTEMBER 2024 1. ACCOUNTING POLICIES {cont'd} lel Interest receivabl8 Interest on funds held on deposit is included when rQCewab and thè amount can be measured reliably by the tharty. lfj Fund accounting Unre$trict8d funds are available lo spend on activities that further any of the purposes of the charity. Dasignated funds are unreslri¢ted funds of the charity whid) the trustees have decided at their digcretion to sel aside to use for a specrfic futuré purpose. Restricted funds are datiOnS which th8 th)nor has sp8crfied are to be solely used for particular areas of the Trust's work. Ig) Expenditure Expenditure is recogni$èd onea there is a legal or constTudiv¢ obligation to make a payment to a third party, it is probable that sewemenl will be required and the amount of the (*ligatlon can be measur&J reliably. Expanditure is classified under the following activity headings.. Costs of raising fvnds compris89 tho costs of managing the investment funds. Expenditure on charitable activities includes the costs of providing nursing earè, repairs to the care home and other activities undertaken to further the purposes ofthe charity and their assoclated support ¢tssts. Ihl Ajlocation of support costs Support $tS ar8 those furKtions that a8S1gt the work of the ¢harily but do not directly undgrtake charitable activlties. Support ¢osls include admin, fin8n¢è, personnel. and governance costs which support the Trusvs pritllary activity of providing a nursing facility. Support costs consisl of thosè costs rK)t dirgctly atttibutable to the activitias of tha charity but which are neces8ary to support them. lil Tangible fixed assets Assets wth a useful lifè exceèding one year. costing in exfjess of £500 are capitalisèd at eosL Depreryation Is eBlculated to write ¢)ff the cost of all tangible ffixed assets. oth8r than freeho land, which is not depre¢lated. in equal annual inslalmenls ovar thair astimated useful lives at thg followng rates.. Buildings BIMlerslplant Furniture. fixlures and fittings Equlpment Computer equipment Motor vehidas 10 10 20 til Operating lease5 Operating lease rentsls a rèeognised in the Statement of Financial Adivities on a slraighl line b8s1s over the period of the lease. Ik} Financial instruments There are no eomplex instruments and all items are inilta51y valued at eosvtransaction value with invèstmants being restsled at fair value. Gains and losses on tha restatement or disposal of invB$tments are shown in the Statement of FinarKial Ach"vitiès. 111 Pensions The Charity makès pension contributions intr) the Hawthorne Trust Group Personal Pension Plan IGPPPI, whith is a defined contribution pension s¢hémÈ. GPPP is with AEGON and rnanaged by Bucklanrl Harvester of 5 The Pars¢)nag8, ManCster M3 2HS. The Charity has no liability other than to make the defined contributions as tY fall due. Total contributions for the year are disdt)sed as other pension costs in Notg 7.
HAWTHORNE TRUST LIMITED Pag8 12 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 2. DONATIONS AND LEGACIES 2024 2023 Donations Legacies 17.359 168,712 89,122 532,612 186.071 Of thè £621,734 recognlsed In 2023. £604.714 was unreslrlcted fund Income and £17.020 was r¢slri¢ted fund incomè. 3. INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Contributions due from guests Amounts due from slafflstudents Phone recoveries her recoverles 13.352 340,175 31.219 735 3,287 2,016 1 S.368 375.416 Of the £375,416 recognised in 2023. £328,432 was unrestricted fund income and £46,984 was restricted fund income. 4. INVESTMENT INCOME 2024 2023 From listèd sacuritiès Bank interest 119,650 21,572 141,222 132.219 1,564 133,783 Of the £133,783 re¢ognised in 2023, £110,596 was unrestricted fund income and £23,187 was strIcted fund incoTlle. 5. COST OF RAISING FUNDS Direct Costs Support Costs Total 2024 Total 2023 Investmènt management fees £30,947 £Nil £30,947 £32,067 Of Ihtr £32,067 8xpendhure recogni$8d In 2023, £26,078 wa$ charg$d to unrostrictèd fund and £5,989 was eharged to restricted fijnd. 6. COST OF CHARITABLE ACTIVITIES Direct Costs Support Costs Total 2024 Total 2023 Pr¢visitsn of nursing ¢ar$ £848,876 £73,753 £922,629 £1,628,881 Of the £1,628.881 gxpenditure recognised in 2023. £1,408,654 was charged to Linre81ricled fun¢Js and £220,227 wa8 charged lo restricted funds.
HAWTHORNE TRUST LIMITED Page 13 NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 7. ANALYSIS OF DIRECT COSTS Raising funds Charitable ctivities Total 2024 Total 2023 Salaries ané wagès Social Security ¢osts Oth8r pènsion costs 131.167 12,883 14.882 1 $8,932 131,167 12,883 14,882 158,932 30,947 3,194 14,059 775.581 66,566 58,294 900,441 32,067 33,201 15.672 113,448 1,458 31,285 44,591 570 16,339 32,134 16.005 40,000 77.235 Investment Managers fees Food supplies Nursing Supplies Contributions to nursing f88s Laundry House sundriès Repairs, maintenance and leaslng R&eruitm&nt advertising Travel expenses and a11ow3n¢e$ Other profession81 fèas Trust sundries Compen38titsn payouts Depreciation Dèprèciation - re-eslimale of useful life of buildings Provlsion for doubtful debt Gain on disposal 30.947 3.194 14.059 6.357 30,358 6.357 30.358 1.128 18,033 11.020 1,128 18,033 11,020 76,448 460,514 70.953 12,1201 76.448 460.514 70,953 (2,1201 30,947 848,876 879.823 1.354.446 Of the £1,354,446 recognised in 2023, £1.322,379 was charged lo ¢harilabke activities and Other Expondllure of £32.Q67 was charged to raising funds. 8. ANALYSIS OF SUPPORT COSTS Raising funds Charitsble activities Total 2024 Total 2023 Salaries and wages Social Security costs Oth8r pansion costs 175,222 17,032 16.123 208.377 1,834 7,233 32.193 49.903 3,808 3,154 Depreciation Govarnanca (Note 9) Eleclrlcity and gas Rales and insurance Telephone Printing. postage and stationery 6.912 19.478 44,995 2,218 150 6,912 19,478 44,995 2.218 150 73,753 73,753 306,502 All of the £306,502 r&Gognised in 2023 was Charged to charitable activities. 9. GOVERNANCE COSTS 2024 2023 Auditors rèmuneration Directors. expènsès (Note 111 4,000 2,912 6,912 3,960 3,273 7,233
HAWTHORNE TRUST LIMITED Paga 14 NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 10. NET INCOMEIIEXPENDITUREI 2024 2023 This Is statéd after charylng.. Depreciation DepreciatSon restallng of useful life of buildings improvements AudiloTS remuneration - audit services 76,448 460,514 4,000 79,069 3,960 11. TRUSTEES, REMUNERATION AND EXPENSES The Irustees did ntst receivè any remuneration in the current Dr prior year. Expenses amounting to £2.912 12023.. £3,273) wara rèlmbursad to 412023.. 4) Trustaes in thè yèar for trav81. 12. STAFF COSTS 2024 2023 staff costs during the year were as follows.. Wages and salaries Social sècurity costs Pen$ion costs 131.167 12,883 14,882 158,932 950,803 83,598 74,417 1,108.818 lal The aveTage number of persons employed by the company during the period was 5.. 5 full lime and O part tim8 (2023.. 26., 10 full lime and 16 part limel. {bl Thère was no temporary stafl during the period. (2023.. £10,464 Icl Higher paid staff. The number of staff whose total employee benefits (excluding employerfs pension costs) exceeded £60,000 was as follows.. 2024 2023 £60,000- £fj9,999 £80,000- £89,999 (dl The key management personnel of the charity comprise the board, and Services Manager. The totsl 8mploy&e benefits of the key management personnel of the trust were £67.09812023.' £277,6481. Under FR8 102, emp)Y9 benefits include gros$ salary, benefits in kind, employer's national insurance and employerfs pension costs. 13. TAXATION As the Company has charitable status It Is exempt from Corporation Tax on its charitable activities and capital gains. providBd that its expendtture is for charitable purposes.
HAWTHORNE TRUST LIMITED Page 15 NOTES TO THE FINANCIAL STATEMENTS - continugd FOR THE YEAR ENDED 30TH SEPTEMBER 2024 14. TANGIBLE FIXED ASSETS Motor vèhiclès Freehold land furniture and and buildings equipment Total COST At 1 sl October 2023 Additions Disposals 3,258,686 421,413 15.649 1114.6691 3,680,099 15,649 (114,6691 Al 30th Seplernbèr 2024 DEPRECIATION At 1 st October 2023 Disposals Charge for the year Rtrslating of useful life of buildlngs improvements 3.258,686 322,393 3.581.079 1.225,409 320.076 1113,289 19,275 1.545,485 1113.2891 76.448 460,514 57,173 460,514 At 30th Sept8m bèr 2024 1,743,096 226,062 1.969,158 NET BOOK VALUE At 30th September 2024 1,515,590 96,331 1.611.921 At 30th September 2023 2,033,277 101,337 2.134.614 15. FIXED ASSET INVESTMENTS Government and Fixed Interest Securities Total Cash Equitiès Unil Trusts Market value al 1 O¢tobèr 2023 4,188.495 71.760 827,625 3,182.647 106,463 Addition5 in the year 397,145 28,637 249,024 119.484 Dlsposal proceeds (455,3931 117,511) 1178.315) 1259.5671 Net investment gainslllossèsl Realised gainslllossesl on dispos81s Unrealised gain$/llossasl 19.264 473,742 357 57.864 18.907 406.033 9,845 Market value at 30 September 2024 4,623.253 82.886 956,555 3,467,504 116,308 Cost 8t 30 S&ptember 2024 3,896,674 82,884 947,729 2,744,860 121,201 Cost 8130 September 2023 3,957.412 71.759 802,060 2,963,339 120.254 Government and Fixed Interesl Securities, Equities and Unit Trusts Inv88tments are quoted on a UK recognised stock gxchange. Of the £24,091 nèt r881is8d and unr8alisgd gains on investments recognSsed In 2023. £3,969 related to unrestricted funds and £20,122 relaleLf to restrictèd funds.
FL4VWtHORNE TRUST LIMITED P& 16 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 16. DEBTORS 2024 2023 Trade debt other debtors Prepanents u@d incom6 145) 11,663 28.694 77,171 8,987 22.393 17. CREDITORS". Arrnwnls falllng (Jue wlthSn on6 year 2024 2023 T8XOS 8nd sw81 se¢urity Other creditors Trade creditors aryj accruals 2.405 2,513 24,052 27,SSO 11,655 34,185 18. RESERVES Broughl ft>wdrd Gains on Exp¢nditure Inv¢stn*nts Transfers Carried forward Income Unrestricted General FL1 317727 6 150071 Rastrtct8d FU1& Brenda W(XKlcock Memorial Fund 256,992 2,6 1.501 30,138 (26.426 264.251 Chwton MaT Benevolent Fund VCSNS Fund 474.446 22,888 19,0251 39.438 17,138 544,885 Christian S(Xe2 Nurses Fund 1.5(K) (1.0) Charton Manor Staff 13D21 1302) 809.794 7 077 774 953 576 493 006 6 959.855 The Brenda Wocxlcock MerTh)rial Fund is a restricted fund for beneflt of asslsted living guests at Cl4arton Man(Y. The Charton Manor 8enevdent Fund has b8&n 8siablish8d as a rèstrict1 fund to provKle ccmtributions towards guests. costs li the case of need. The VCSNS Fund provides b&n•fit lo thosg Chrfstlan Sdonlsts iASU81ty tr1ng Mthin 50 miles of centrai London who ¥e in need of nursing in their own homes. The Christian Sci8nc8 Nurses Fund has been est$blished wilh 8 eW lo providing occasional grants or gifts to Christian s0ce Nurses. The Ch8rton Mar)or Staff Fund has been established a view to providiThJ ocrs1On8l grants or gifts to staff.
HAWTHORNE TRUST LIMITED Page 17 NOTES TO THE FINANCIAL STATEMENTS- ntInUed FOR THE YEAR ENDED 30TH SEPTEMBER 2024 18. RESERVES Icont'd Comparative infomiation for tho movemgnt kn reserves in Ihe previ(xJ$ year is as fdlows.. Brought forward Galns on Expenditure Invtrstmènts Transfers Income forwarfj ureStsted Generd FLd 6,802.844 1.043.742 11.434.732) 3.969 {70,9871 6.344.836 Restricted FuThJs: Branda Woodcock Memori81 Fund 247.975 2.599 11.554) 7,972 256.992 ChartOA Manor BeneVent Fund 3,898 (74,885} 70.987 VCSNS Fund 527,481 84,592 1149.T77) 12,150 474,446 Christl8n Sci8rtt Nurses FurKI 1.500 1,0 70.987 732,938 7 583 698 1 130933 7 077 T14 19. NET ASSETS BY FUND Brea Woodcock Mémrfal Fund Christian Chart Science Manor Nurses Fund Staff Fund VCSNS Fund G8neral Tangible fixed assets 1,611,921 1,611,921 Invostment5 4,6TJ,253 3,837.824 240,220 545.209 Nèt CLwrènt assats 724,691 700,326 24.031 13241 960 13021 As al 30th SepteMr 2024 6 150071 302 Compar8tive lnf0miaft fLYthe an81ysls of net assets bylund in the prevK)US y8ar is as folow5: Brenda Woc*JcLKk M¢modal Fund Christian ScierKe Nurses Fund VCSNS Fund Totsl General Tangible fixed assèts 2.134,614 2,134,614 Investrnents 4,188,495 3,434,117 206,127 548,251 Net current assets 754,665 776,1D5 50,865 173,805} 1.500 As at 30th September 2023 7 077.TT4 474.446
HAWTHORNE TRUST LIMITED Page 18 NOTES TO THE FINANCIAL STATEMENTS- conllnued FOR THE YEAR ENDED 30TH SEPTEMBER 2024 20. COMPANY STATUS AND MEMBERSHIP The Company 1$ a private cofflpany limited by guarantee and without a share capital registered in England and Wales. The liability of the members 18 limited and every member of the Company undertakes lo contribute up to £1 to the assets of the Company in the 8venl of its being wound up. At 30th September 2024 there were 11 members. The reglstered office of the company Is at Hawthorne Trust Ltd, Charton Manor. Gorse Hlll, Farningham, Kant, DA4 OJT. 21. RELATED PARTIES other than the transactions with trusteesldirectors disclosed in note 11, the were no other transactlons wlth relaled partiey which require disclosure. 22. CONTRACTUAL COMMITMENTS Théra waré no contractual eommitm8nts as at thè yÈxr ènd12023.. Nono).
HAWTHORNE TRUST LIMITED OPERATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30TH SEPTEMBER 2024 Year ended 30 September 2024 Year ended 30 Seplembgr 2023 INCOME Due from guests for nursing services (excl. phon8sI Due from staff and students (excl. phonesl Phone recoveries Olher recoveries Totsl eontributlons recoiv•d fr¢)m continuing operations 13,352 340,175 31,219 735 3,287 375,416 2,016 15.368 Donations and gift5- unrestrte¢j Leg8CI8S Investmont incorne Total Income 17,359 168,712 141,222 342 661 89,122 532,612 133,783 1,130,933 EXPENDITURE Cost of r#i$ln funds Investment Managers fees Charltable activities Contributions towards patient$ fees by HTLNSCNS Benevo18nt Fund salas, social security costs an(J penslon costs Food supplies Nursing Supplies Laundry House sundries Repairs, mainlenan¢e and leasing Recruilmenl advertising Travel expenses and allowances other prolesslonal fees Trust sundri¢s Provision for doubtful debt Cornpènsation payouts DepcIatIOn DepcIatiOn- r8stating of useful life of buildlngs improvements Gain on disposal, net Total costs In furthorance of the ch¥ritys obJ•ets ort costs Salaries. social securty costs and p&n$ion costs Depreciation Othèr su ort costs.. Elèctricity and gas Ratès and insurance Telephon8 Printing, postage and stationery Total support costs Govemance costs PTof885ional fee5 {auditorfs remuneration) Directors exnseS Tol81 man89oment and administrativè expanditure 30,947 32,067 113,448 900,441 33,201 15,672 1,458 31,285 44,591 570 16,339 32,134 16,005 158,932 3,194 14,059 6,3S7 30,358 1,128 18,033 11,020 70.953 40,000 77.235 76.448 460,514 2,120 848.876 1.322.379 208,377 1,834 19,478 44,995 2.218 150 66.841 32,193 49,903 3,808 3,154 299,269 4.000 2.912 6,912 3.960 3.273 7,233 Total expendltur¢ 953,57fj 1,660,948 NET EXPENDITURE {810,9151 1530,0151 Galns on invostments Realised gains on disposal of inveslFnents Unreali3ed Ilossesllgains on investments NET AIOVEMENT IN FUNDS 19,264 473,742 £117,909 51.681 27,590 £505,924 Thls Pa9e does not lorm pari ol the atrIed Iinanclal sialemenlE bul is bèJ%Éd uwTr the ?c¢ouniing iecords of the company vthid) hAve been sublecl 10