Ch*rity number: 210145 Homes & Communiiles Ag¢ney No. A4354 Harefield Parochial Charities Trustees, report and financial statements For the year ended 31 December 2024
Harefield Parochial Charities Contents For the year ended 31 Dcccmber 2024 Page Legal and administrative inforination riistees, report Auditors, report lo the 'l'rustces Stalcnient of finan¢ial activities io BalanLC sheet Notes to the finaiicial statcm¢nts 13-19
Harefield Parochial Charities Legal and administrative information For the year ended 31 December 2024 Charlty number 210145 Business address I l Burbery Close Harefield Middlesex UB9 6QP Trustees P P Davis - Chairperson P N H Mander- Treasurer Rev. Martin Davies B Meier A Breathwick Sopliia Arthur Audltors L¢vy + Partners Limited Chartered Accountants and Statutory AuditOT5 7-8 Ritz Parade Western Avenue London W5 3RA Bankers C,ater Allen Private Bank 9 Nelson Street Bradford BDI SAN The Nat West Bank plc 37 Green Lane Northwood Middlesex HA6 3AF Solicitors Third Sector Law 240 Shenfield Road Reading Berkshire RG2 8EX Page I
Harefield Parochial Charities Report of the Trustees For the year ended 31 December 2024 The Trustees present their report and the financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accouiitiiig policies set out in the notes lo the fiiiaiicial slaleinents and comply with the Charities, Trust Deed, Ihe Accounting and Reporting by Charities.. Sialement of Rccommended PrdctiLe applicable to charities preparing their a¢¢ounls in accordanLC Wlth the Financial Reporting Standard applicable in the UK and Republ ic of Ireland (FRS 102} (eifeciive l January 2015) - (Charities SORP (FRS 102)) and Ilic Charities Act2011, Structure, governllnce and management The gDv¢rniiig docuniciit tor Ilie Trust is a Charity Conimi5sion Scheine or trusl deed dated I st May 1956. Tlie Trust includes th¢ followiiig ancient charities in the Piifi5h of Harefield, Middlescx; The Countess of DLrby's Almsliouseb Charity fouiided by a Will datcd 24 December 1636. Tlie Mrs Mary Asliby Charity {including Baldwiii's ¥ift) founded by a Will datcd 24 April 1664. The Solomon Burbery Cl)arity fouiided by a Will dated 5 March 1697 (Littlewoods/Ddiry l-'arm*}. 'I'hc Poor's or Fuel Allolm¢nl Cliarity eslablisl)ed by an Inclosure Award und¥r the Enclosures Act li) 1813. The Henry Goodin(In Charity tound¥d by a Will provcd on 20 May 1858. The Ashfurd and M(i()rc Cliarity founded by a Will proved on l O April 1867. * Tlie farm rctcrred lo a5 Liltlcwoods ii) Ilie Cl)arity Conimissioii governing di)Lumenl is now kiiowi as the Dairy F&mi. Tlie C,harilies' governing. document requircs 5 'fruslees wl)o must livc or work in Ilic Parish of Harefield. 'I'hcy are Lonslitulcd as foll()ws'. Two R¢prcseiilative 'frustees appointed by the Couiicil of tlie Loiidon Boroligli of Hilling,don to serve for four ycars, such lerin b#inLy rci)cwabl¢. Two Co-optative Trustees appointed by tlie Board of TrustCC5 froni pcrsoiis rcsiding or Ldrying out business iii tl)L area of the Aneient Parish of Harefield and 5crve for fivc yeiirs, such Icrm beiiig renewabl¢, An Ex-oificio Ti'ustee the Vicar for tlie lime being of tlic Lc¢lesias1i¢al Parisli of Harefield. P P Davis - Chairperson P N14 Mander- Treasurer R¢v. W M Davies A. Bi'eathwirk Mrs B Meier Co Optalive Trustee Representalive Trusl¢e Ex Officio Ti'ustee Additional Trustee appointed by resolution Additional Trustee appointcd by rc501ution The Trust is managed by th¢ five designated Trustees working entirely on a voluntary basis and all live in I larefield. Tlie Trust has no chief executive officor or staff to whom the day-to-day management is delegyated. To a55is1 wilh the workload, additional tru5tee5 can be appointed by resolution as the Trust's sGh¢m¢ Gontain5 no power to amend the Clause 3 in this I'espect. as agreed with the Charity Commission. The Trust, in additioTJ to being a registered charity, is a registered provider of the Homes and Cominunilies Ageiicy. It is also a m¢mber of the Almshous¢ Association and the Iiidependent Housing Ombudsman Scheme. Page 2
Harefield Parochial Charities Report of the Trustees For the year ended 31 December 2024 Objectives, activities and publie benefit As set out iii the TrLlSt's governing docliment, the objccttve of all the six original constituent Charities of the Trust was the relief of need in the Ancicnt Parish of Harefield. The Trustees pursue the same objective today. All income derived from the Trust's activilics and endowments less Ihal paying for mainl¢nanL¢ and s¢rvi¢ing a ¢onsidirdblc mortgyage, provides public benefit. Th¢ 'l'rusl¢es ¢onfirin that tl)ey are fully awai'e of Ilie c.harity C.omiiiission's guidaiice on the need for publi¢ benefit in Ilie execution of 11)¢ir activities in pursuit uf Ili¢ rclief of need, tlie objectivc of tlie Trust. In thcir judgcniei)I Ilie Triislccs believe Iliat Ili¢y mect in full tlie rcquireii)enls Of Ilie public bciiefil lest. Refereiice to Ihi,s 18 Inade iii Ilic dcscriptions of their various endedvouf5 in the Icxl below. 'ho Dowager Countcss ot. Derby in h¢r Will dated 24 Deccmber 1636 left provision tor the curate lo say prHyors lor them daily. The fine C)rade Il* lisled bliilding on Chur¢h I lill in thc village wa5 tlie rvsull. Tliis was Lonvertcd and up-grad¢d tv thc modern d¥ceiit homes standard iii 2U03 lo pr()vidL two comtortable one bedrooin alinshoiises. Th¢sL arc oGcupied by qualitying) residents from the Council's hou.qillg rLgyisl¢i' a piibliG benefit. The weekly maintenanLe contributioiis (r¢nt} from these add to tlic Trust's inL()m¢ lo service thc buildin&Y and grounds. Solomoii Biirbery, a last maker of the Pari.%h of St. Martin's in Ihe Fi¢lds, l.undon, in his Will dated 5 MarLh 1697 left a small farm L)f 5.5ha ()11 thL edVe of th¢ villagFe. The incoinc troin this was to keep his Iwo si.%l¢rs for tlicir lilelimcs and 'after thLir deceas¢ unto the poor of the Parisli of I larcticld lorever. In 2001 it was discovered ihat 1.0 ha of ihc Daily FariT) sil¢ was dL'v¢lopable. On accoiint of the shortdbyc of. arrDrdiiblc housiiig in thc village, Ihe I'ruslees embdrked on a pr()jecl funded by a bank loan lind a SibTnificanl social housing, grant IrL)In ihL I lousiiig c.orporatioii in 2000, 'fhis providcd,. fourteen 2, .3 or 4 bedruom family homcs in8lea(l of traditional alinshou8¢s Lvnstruclcd as Burbery c.lose lo commem()rate the t)en¥fJctor. Tliesc are let at .qoGial housing renls t() Landidates froin CoLiiiciI's hnu5ingT I'¢gTisler fr()m the Parish only, a publ ic benefit. Thc maintenaiicc contributii)ns (rLnt) ti'om these are part uf th¢ Trust's income Ihal helps lu maintain th¢ buildings and groLind8 aiid also serviLe thL larbye mortgage funding Ihc project. the coiiversion and renovalinn of the l(Ically lisied farmhou5c and a barn and the construction of four new-build 4 bedrooin h()Uscs. These wcrc offered i)n 500 year leayLs lo keep the ()rigiiiHI Solnmon Biirbery end()wnieiil ii)iact. The proceeds assisted in financing the projccl. The ground renl from houscs contribute8 to the Trust'5 income which is used for public benefit. A football pit¢h aiid a cricket ground were Constructed on two of the farm paddocks in the Green Belt. These are let on long full repairing Igase5 to the neighbouring village football and ¢ri¢ket Glubs. These boih provide organised a¢tivities for the young of the village - a publi¢ benefit. The rent from these provides additional income for the Trust. Th¢ financial endowments from the four other ancient charities {Mrs Ashby, Poor's or fuel Allotmeiit, Henry Goodman and Ashford & Moore Charitie5) are invested by thc Official Trustees of Cliaritabl¢ Fund5. Whilc the endowmeii15 are restricted they provide welcome dividend income which assis15 in fijnding public benefit5. Achievements and performance Jii general tlie Trust's properties and grouiids were all in good order throughout the y¢ar and were well covered by the insuraiice policies maintained. Page 3
Harefield Parochial Charities Report of the Trustees For the year ended 31 December 2024 Financial review The Trust's sources of income are.. Weekly maintenance contributiolls {rent) from 16 almshouses, 14 in Burb¢ry Close on th¢ Dairy Farn) Estate and two in the Countess of Derby's Almshouses, Ground rent from the 6 leaschold propertiLs on the Dairy Farm Estate, Relit trom Ihe two playingy fields on thc Dairy Farn) Estate, Divideiids from the Trust's four ¢ndowment funds iiivested by the Ofti¢ial Trustees ol. Charitable Funds, I'lic 'l'rusl's income cover5 the running Logls aiid Inaintenaiice of tlie Trust's properties and thc Inonthly provisions for cmir¥en¢y repair and cyclical mainl¢n*lli¢C fi)nds for tl)em. In addition, capital repayments and iiitcrcst payments are made niontlily to The C,harity t4aiik against Ili¢ Dairy liami developinenl refinancing loan. Apportioned scrvice charge4 are rccovered for costs incurrcd for gardeiiiiig, cleaniiig. mainteiiance, area lib7htinu, CCTV ror tlie c()mmoii parts of the Estalc ai)d IndnabFLmcnl. 'fhcse arc Ccrtified by our audilor5. Witli the importance of mainlainiiig cash flow, thc I'l'uslces pay particular attention lo budgclary reporting and exp¢nditurL control. Rep()rts on bank balances and moi)thly incom¢ Lind ¢xp¢ndilure pres¢nlcd at tlie Trustees, m(Inihly meetings and invoiccs received arc explaii)ed prior to approval tor paynlLnl. 'I'lIL 'I'rust's tiiiancial pnsitioli IS therttforc iiiider eonstant and careful .%cruliiiy. Risk management Managemcnl of ri8ks to thc 'l'riist is uf primary imp()rtanL¢ to thL I ruslccs aiid they are thcretore aware ()f Ihc importance of ri&Tour in managing the Trust's att'airs. If threatenin8 issues arise thcsc arc addresscd promptly and profLssional advice sought where neLe.%sary, Thc regular reLLlPt of rents, or in Almshouse terms w¢ekly maintenance contributions, is essential for Ihe s¢rviLing of the mortgage uiid loans for Ihl Dairy Farin project. Risks arc minimal in other areÈlS. No slaff arc cmployed and tlie Trust's propertie5 are w¢ll insured, Insurance cover obligation for tenanted houses, football pitch and ¢ri¢k¢t ¥round are undertakcn by the respcclive lenant, A GDPR audit was ¢arried out to ensur¢ w¢ Comply wilh the requiremeiils as set out by the various bodies. Grant awards The main fociis for grant aid is Il)e truditional Coal Allocation, paid to qualifying elderly village residents. other granls are made, in observance with the Trust'5 Governing Documenl. lo local organisalions, Tl)is year, grants were made to the local priinary school for Christmas food parcels to families in need. Plans for future period5 Thc Trustees will ensure Ilial income that is du¢ is received regularly and in fijll, in order lo be able to seNice effectively the mortgag¢ and loans that the Trust lia5. Jncoine will also be expended priidenily in Ilie maintenance of all its properties and its Eslate. Page 4
Harefield Parochial Charities Report of the Trustees For the year ended 31 December 2024 Statement as to disclosure of information to auditors In so far as the Trustee5 are aware.. tliere is no rel¢vant audit inforniation of wliich the Trust's auditors are unaware,. and the Triistees have taken all steps Ihal ihey ought to have taken to make themselves awar¢ of any relevani audit information and to establish that the auditors are aware of that information. Trustees, Responslbllltles Statement ThL l-ruslee5 are rcsponsibl¢ for preparing the Trustees, Aniiiial Report and the financial statements in ac¢ordaiicc with applicable law and Unil¢d Kiiigdom Accouiilin8 SianJard5 (United Kingdom Gcncrally Accepted A¢uuuiiliiibF Praclicc). Law applicabl¢ to Gharilies in l-.iigland and Walcs rcquire.% the .1 rLlStces to prepare finaiiLl¢il slilt¢mcnts for each finaiicial year which givc a trLie aiid fair view of the 'l"rusl and of th¢ inromingi resources and application of resourc¥s of Ihe Trust ri)r that year. In prcpariiig these tinancial stat¢monls the Trustees arc rcquired to., selvct suitable aiLounting pnlicics and Ihen #pply them ciynsislcntly. observe Ili¢ mcthods and principles in Ihc Charities SORP; make jud&iements and estimates Ihal are ryayonablc and prudent; .slale whether applicable UK ALcouiiting Staiidards have bLL'n followed, subj¢ct lo any material departures disclo.sed and explaincd in the finaiicial sldtcments; and prepar¢ the financial statem¢nts on the goiiig coiicern basis unless it is inappropriatc to presuine that Ihc charity will ¢onliiiue in operation. I'he Trustees are respoiisible for keeping surricienl accounting reLords Ihat di5cI()se with rLasonable accura¢y at any lime the financial position ot th¢ Lharity and enable them to ensure that the finanLial stalcmcnls comply with thc Charili¢s Act 201 I, thc Charity (Accounts and Repons) Regulaiions and the provisions of th¢ trust deed. They arc also responsibl¢ for safeguardin8 the assets of the Trust and henc¢ for laking reasonable steps for the prevention and detection nf fraud 8nd other irr¢gularities. The Trustees are responsible for the maintenance and integrity of the Trust and financial information included on the Trust's wcbsite. Legislation in the United Kingdom governiiig the preparation and disscmiiialioi) of financial slatemcnls may differ Irom legislation in other jurisdictions. The Trustees believ¢ that they have fulfilled all their obligations in all the5¢ respects. Page 5
Harefield Parochial Charities Report of the Trustees For the year ended 31 December 2024 Auditors During the year, the Trustees reviewed their audit requirements and reappointed Levy + Partners Limited as auditors. Deelaratlon The Trustees declare that they approved the Trustees, Annual Report on 4 June 2025 Signed on behalf of the ChItIes, Trust¢¢s by: P P Davls Trustee (Chalr) Pog¢ 6
Harefield Parochial Charities Independent auditor's report to the Trustees of Harefield Parochial Charities For the year ended 31 December 2024 Opinion Wi havc audited the financial stalemenlb of Harefield Parochial c.harities for the year ended 31 December 2024 which compribl thc Stateinent ot Financial Activili¢s, thc Balance Sheet and the related notes including sigiiificanl accounling policies. Thi finaiicial reporting framework that has bccn applicd in thcir pr¢paration is applicablc law and Uniled Kingdom Accounting Staiidards, including Financial Reporting Standard 102 Tlie Financial Reporting Standard applicable in the UK aiid Republic ofireland (Uniled Kingdom Generally Accepted Accouiiting Practice). In our opinion, the financial staicmcnls.. give a true and fair vicw of thc .%tate of the charity's affairs as at 31 December 2024, and of its incoming resourccs and application of resources. for tlic year then ended. l)ave been propcrly prepared in accordance with United Kingdom Generally Acccptcd Accounliiig Practicc. and have becn prepared in d¢cordan¢e wilh Ihc rcquirements of the (:harilies Alt 2011. 'I'hc Trust is u Rcu)istcrcd Social Ldiidlord and complies willi thc accounlinLi aiid audit requircmeiils under.. Pur¢i&yrapl) 137 (of Cl)apl¢r 17 01. Housiiig aiid Rcgiencralion Act 20011) aiid; a) the revenuc account gives a truc and fair view of the Tru51's income and expenditure, so far as relalinLi lo ils hou.qing activilies, and. b) Ihv balance sheet Lyivcs a true and fiiir view of Ihe slatc of affairs of Ilic cl)arity as at the end of tl)e period to wliich the accounls relatc. Basis for opinion We condiicled oiir audil in a¢¢ordai)ce with Inlernalional Standards on ALiditii)g (UK) (ISAS (UK)) and appliLtible law. Oiir r¢spon8ibililie5 linder Ihose standards are further desci'ibed in the Audilor's r¢sponsibilili¢s for th¢ aiidil orth¢ tinancial 8talomcnt5 section of vur I'eport. Wc arc independenl of lh¢ uharity in accordance with thc ethical requircments that are relevant lo our audit of'the linanLial slalemenls in the UK, incliiding th¢ FRC'S Ethical Standard, and WL have fulfilled our other ethiLul rLsponsibililies in accordance with thcsc rcquiremenls. We believe that the audit ¢vidence we have obtain¢d is sufficient and appropriate lo provide a basis for our opinion. Conclusions, relating to going concern In alidiling the fir]ancial statements, we have concliided that the trustees, use of th¢ going concern basis of accolintiiig in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncLSrtdinties relatinu to events or conditions that, individualyy or cullectively, may ca51 significant doubt on the Harefield Parochial Charities ability to continue as a going concern for a period of at IL'ast 12 months from when the financial statements are authorised for isSUC. Page 7
Harefield Parochial Charities Independent auditor's report to the Trustees of Harefield Parochial Charities For the year ended 31 December 2024 Our responsibilities and the respoiisibililies of (he trustees with respect lo going concern are described in the relevanl section of this report. Othcr information The other iiiforn)ation comprises the inforination included in the annual report, other than the financial statements and our audilor's report thereon. ThL trustees are responsible for the other inforniation contained wiiliiii the annual report. Our opiiiiun on the financial statements does not cover tl)e otlier information and we do not expres5 any form of assurance coiiclusioii thereon except to Il)e exlent otlicywise expliLltly slated in our r¢port. li) ¢onneLlion witli our audil of the fiiian¢ial slatemcn15, our responbibility is to read Ihe oilier information and, in doiiig so, c0115ider whetl)er the otli¢r information is materially inconsistcnt with the fiiiaiicial slalemenig or our knowledge obtained in the audil or otherwise appears to be materi¢illy misstated. I I we identity su¢h material inconsi5t¢nLi¢s or appar¢i)t maiLrial misstaiemenls, we are I'equired to deterniii)I whcthcr there is a Inatcrial mis.qlalemeiil ii) Ihe fiiianLial slal¢m¢nlb (Jr a malLridl misslalen?ent of the other information, I I., based on thc work we have performed, we conclude that there is a material misslal¢mcnl of this othcr information, we al'e required to rcport Ihal facl. We have nothing lo report in thi5 rc&Fard. matter.s on which wc. are required to report by Lxccptlon In thL libilil of Ilie knowledge aiid undcrstaiiding of the cliarily and ils environmci)t obtained in the cour8¢ of thL audit, we liave iiot idttnliticd Inal¢rial misstalinenls in the truste¢s rcport. Wc havc notliingy to report in rc5pccI of Ihe followii)g matt¢rs whLrc thc Charilies (ALLounls and Reports) Regulations 2008 requires u8 to rcport lo you if, in our opinion.. the information givcn in the financial statements 15 inconsistent in any material respect with th¢ truslces, report. su1CleI iiccounting records hav¢ nol been kept. th¢ finaiicial stalcments arc not in agr¢¢mcnt with the accoiinling r¢cords and reliirn8.' or we have not received all the infoi'mation and Cxplanations we require for our aiidit. Responsibllities of trustees As cxplained more fully in tlJe Tru5tCC5' Responsibilities Stalcmenl set out on page 5 the tru.qlees are responsibl¢ for the prepardtioi) of finaiicial stalemcnts wliich g?ive a Iru¢ and fair view, and for sucli intcrnal control as the trustees delermine is ncLcssary lo ¢nable the preparation of financial stalem¢nls tliat are free from material Misslat¢ent, wliellier due to fraiid or error. In preparing the financial statemcnts, the trustees are responsible for assessing the charity's ability to continue as a going con¢erii. disclosing. as applicable, matters relalcd to going concern and using Ilie going concern basi5 of a¢¢ountiiig unless tlie tru5t¢es either intend to liquidate the company or to cease operation5, or have no real islic alternative but to do so. PAee 8
Harefield Parochial Charities Independent auditor's report to the Trustees of Harefield Parochial Charities For the year ended 31 December 2024 Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under the Charities Act 2011, s. 144[ ] and report in accordance with regulations made under the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasoiiable assurance about whether the financial Statements as a whole are free from material misstalemeiil, wheiher due to fraud or error, and to issue an auditor's report that includes oiir opiiiion. Reasonable assurance is a high level of assuraiice, but il is nul a Lyuarantec that an audit conducted iii accordance with ISAS (UK) will always d¢lc¢i a material misslatenicnl wheii it exists. Misstatements Can arise froni fraud or ¢rror aiid are coiisidcrcd material if, individually or in the ab'bvregate, Ihey could reasonably bc expcclcd lo infliience Ihe economi¢ decisions of users taken on the basis of these financial slatLmcnts. IrrcgTrulariles, includinb fraud are instances of non compliun¢¢ with laws and r¢byulalions. W¢ d¢sigin piocedure in line with our responsibilitie8, ouilin¢d above, to detecl Inalerial Inisstaleinenls in respecl ol. irregularities, includinb, fraud. The exlent to whiGh our proLedui'cs are capable of dLtcGting irregularities. is d¢luiled beluw l ) We a.8sescd the exlent of Lumpliance wilh the law5 and regulati()ns identified abovc throiigih making enwquiriLS of management and identified laws and regulations. 2) making enquiries of maiiagFcmcnt as to whei'c they considered thcrc was SUSGCPtibility to fraud, Iheir knowledLye of aclual, suyp¢cled and allcgcd traud 3) coiisidcriiig thc intcrnal cunlri)l in place lo miti&FiltL risks vf fraud and non compliaiicc with laws and rcgulali01is uiid lo address Ihc risk or rralid through Illanagycment bia% uiid overi'ide ofcontri)1.4. 4) we pcrlormed aiialylical pro¢¥durcs lo idenlify any uiiusual and uncxpccled relationships. A furthLr desLription ot. our rcsponsibilili¢s for the audil ofthL financial .qtal¢m¢nt5 is locatcd on the Finaiicial Replirling Council's website ut.. www.frc.org.uk/audilorsr¢5poiisibilities. This d¢s¢ription fornis part of our aiidilor's repurt, Use of our report The I'epoit is made solely to the Charity's Irustees, as a body, in 4¢¢ordance with Chai'ilies Act 201 l. Oiir audit work ha5 been undertaken so that we might state to the trustecs those matters we are required to stale lo them in an auditor's report and for no other purpose. To the tlillest extLnt perinilt¢d by law, we do not a¢¢ept or (Issiimc rcsponsibility to anyone oiher than the Lharity's Irustces as a body, for uur audil work, for this report, or for the opini011s wc have lormcd. 4 P4qhur£ Levy + 1> rs Ited Chartered Accountants and Statutory Auditors 7-8 Ril£ Parade Western Avenu¢ London W5 3RA Date . 4 June 2025 Levy + Parlneps Limited is eligible io acÈ as an audiloy in Éerms ofseclion J2]2 of ihe Companies Acl 2006. Page 9
Harefield Parochial Charities Statement of financial activities For the year ended 31 December 2024 Unr¢strleted Re$trleted Endowment funds funds funds 2024 Total 2023 TotAI Notes Income Charitabl¢ activities Investments 141.884 5,850 141,884 5.850 137,977 6,350 Total Income 147,734 147,734 144.327 Expendlture Charitable a¥livities Governance costs 47,177 25.087 47,177 25.087 85,440 27.761 Total expendlture 72.264 72,264 113,201 Net income l (expenditure) before other recogniyed galns and losses 75,470 75,470 31,126 Other recognised golns and losses Gains on Investments 2,0711 3,289 5,367 12.252 Net movement In funds 77.548 3,289 110.11.17 43.378 Total fiJnds brought fomrd 1 ,688,085 1,115U,()116 145,581 2,884,272 2.840.894 Total funds eArried forward 1,765,633 1,0S11,C)06 148,870 2,965.109 2,884,272 The statement of financial activities includes all gains and losses in the year and therefore a separat¢ 5talemenl of total recobynised gains and losses has not been prepared, All of tlie above amounts relate to ¢ontinuing activities. The note5 on pages 13 10 19 form an Integral part of these flnancial statements. Page 10
Harefield Parochial Charities Balance sheet As at 31 December 2024 2024 2023 Notes Fixed assets Tangible assets Investments 3.300.037 176,988 3,300,050 171,502 3,477,025 3,471,552 Current #ssets Debtors Cash al bank and in hand 10,813 112,955 12,841 77.041 123,768 89.882 Creditors: amounts falllng due wSthSn one year io (54,628) (52,963) Net current 4ssets 69,140 36,919 Tolal assets less current liabilities CrLditors: amounts falling due after more than onL year 3,546,165 3.508,471 (506,5 I2) (554,661) Provislons for liAbllitles 12 (74.544) (69,538) Net asset5 2,965.109 2,884,272 The funds of the charity: Endowmeiit funds 13 148,869 145,581 R¢stri¢ted income funds ,050,606 ,050,606 Unrestricted income fund5'. Unrestricted income fund5 Revaluation r¢s¢rve 1,395.320 370,314 1,317.771 370,314 Total unrestri¢ted income fund5 ,765,634 1,688.085 Total charity funds 2,96.S,109 2,884,272 The Balance Sheet conlinues on ihefollowingpage. The notes on pages 13 to 19 form an integrol part of these fjnanelal statements. Page 11
Harefield Parochial Charities Balance sheet As at 31 December 2024 .Continuedfrom prevlow page The financial statements were appmved by the Trustees on 4 June 2025 and signed on their behalf by P P Davis- Chalr Truslee The notes on pAges 13 to 19 form An integral pllrt of these financi41 statements. Pgge 12
Harefield Parochial Charities Notes to the financial statements For the year ended 31 December 2024 Accounting policies The principal accounting policies are summarised below. The accoiinting policies have been applied consistently throughout the year and the preceding year. The transition to FRS 102 has resulted in iio changes in accounting poli¢itts lo thosc applied previously. 1.1. Basis of accounting The financial stat¢mcnls ar¢ pr¢pJrcd have b¢¢n prepared in ak¢ordance with Accounting and Reporting by Charities.. Statemenl ol. Recominended Praclice applicable to charities prcparing their accounts in accordance with the Financial Reporting Standard applicablc in Ihc UK and RLpubliL of Ireland (FRS 102) (cfle¢tive l Jaiiuary 2015) - (Charities SORP (FR$ 102}), ai)d the Charities Acl 2011. 1,2. Coshflow 'I'he Trust ha5 laken advaiilage of the exemption in FRS 102 from the requircment lu produce a cashflow statement becausc it Is a small cntity. Fun(1 accounting The unreslricted funds are ndS availablc for cliaritablc purposes within Ihe objectives of thc Cliarity. The restrictcd fiinds al'e fiiiids which are lo be iised in accoi'dancc with sp¢cific restrictions impo.4ed by donors or which hdvc beeii raised by the Trust for particular piirpvs¢s. Th¢ Cosl of raisin&y and adminislci'iiiby sii¢li funds are Lh¢irgyed against the specific fLllId. 1.4. Fndowment funds The enduwment fiinds arise from the the six Driginal ¢()n5titu¢iil charities ot the Trust and are added to aiiiiually. Dividend income arising from ihcse funds is used by the Trustees as unrestricted income, as shown in thL stalemenl of finai)cial activilies. 1.5. Income All income is included in th¢ stat¢m¢nt of finan¢ial a¢tivilie8 when the Tru.st i.s entitled to the income and the amount can bc quantified with reasonable a¢¢ura¢y. Th¢ following spc¢ific poli¢ies are appli¢d to particular cate¥orie$ of in¢ome'. Iiicome fiom investments is included in the year in whicli il is received. 1.6. Expenditure Expenditure is recognised on an ac¢rual basi5 as a liability as incurred. Expenditure includes any VAT which annot be fully recovered, and is reported a5 part of the expenditure to which it relates. Charitable expenditure comprise5 those costs incurred by the Trust in the delivery of its activities and servi¢¢s for its b¢n¢fi¢iaries. It includes both costs that can be allocated directly to Such activities and those costs of an indirect nature necessary tQ SVPPOrt Ihem. Governance costs are those costs a550Giated wilh meeting the coiistitulional and slatulory requirements of the charity and in¢lude the audit fees and e05ts linked to the strategic management of the Trust. Page 13
Harefield Parochial Charities Notes to the financial statements For the year ended 31 December 2024 1.7. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates Calculated to write off the cost or valuation less residual vlllue of each asset over its expected usefvl life, as follows: Land and buildings Fixtures, fittings and equipment 250/0 Reducing balan¢¢ basis The freehold land and buildings are caTried at their revalued amount being its fair value at the date of r¢valualion. 1.8. Investments Investments hcld as fixed assets are r¢valu¢d at mid-market value at ihe balanLe sheet dale and tlie gain or loss tak¢n to the statement of financial activities. 1.9. Going Concern The accounts have been prepared on ihe assumpiion that the Charity is able lo carry on its activities as a going concern, whi¢h the tru51ees coiisider appropriale having regard to the ¢ir¢umslan¥es. 1.10. Taxation No taxation has been provided in the financial statemenl as the Trust applies all income to it5 cliaritable objective and is exempt in accordance with Seclion 478 of the Corporation Tax ALt 2010. Charitable activitics (Social Housing and other Letling.8) Unrestrieted funds 2024 2023 Total Wcekly Maintenance Contributions Rent Received Ground Rent S¢rvi¢e Cliarge 133,484 3,934 1,500 2,966 li3.484 3,934 1,500 2.966 124,763 4.081) 1,500 7.634 141,884 141,884 137,977 Investments UnTestricted funds 2024 TotAI 2023 Tot41 Interest Rec¢ivcd Dividend Income Other Investment Increase in valuation 1,798 4,052 ,798 4,052 838 3,997 1,515 5,850 5,850 6,350 Page 14
Harefield Parochial Charities Notes to the financial statements For the year ended 31 December 2024 Costs of ¢h4rltable activities- by fund type Unrestricted funds 2024 Total 2023 TotAI Donations Eslate Office Depreciation on FF and equipment Provision of fund5 Bad debt 4,900 37,073 185 13 5,006 4,900 37,073 185 13 5,006 5,020 70.476 257 17 8,000 1,670 47,177 47,177 85,44 Governance costs Unrestrlcted funds 2024 Total 2023 Total Auditor remulleration Legal fees Trustees, Iraining Mortgage Interest 1,950 2.070 1,008 174 24..f09 342 22.795 22,795 25.087 25.087 27,761 Tru8tee8' emoluments No remuneration or ¢xpenses were paid to any Trustee, or to any person with a family or business wnn¢¢tion with any Trnstee during th¢ y¢ar. P4ge 15
Harefield Parochial Charities Notes to the financial statements For the year ended 31 December 2024 Debtors 2024 2023 Amounts ow¢d by Residents and t¢nants Other debtors Prepayments 7,762 5,980 5.213 1.648 2.938 10.813 12.841 10. Credltors: amounts falllng due wlthln one year 2024 2023 Bank Loan (secured) repayments due wiihin the next 12 months Trade creditor5 Deposits Accruals and deferred income 48.150 (123) 4,650 1.951 46,241 121 4,650 1.951 54,628 52,963 The bank loan is secured on th¢ Trust's properties. Credttors: amounts falling due after more than one year 2024 2023 Bank loan (Seeured) 506,512 554,661 The bank loan is secured on the Trust's prop¢rties, Page 17
Harefield Parochial Charities Notes to the financial statements For the year ended 31 December 2024 12. Provfisions for fund5 mergency Cyclical Repolr Malntenanee Funds Funds (ERF) (CMF) Total At l Janiiary 2024 Charge for th¢ year Transfer from repairs and renewals (17,331) (600) (52,207) (7,400) 2,994 (69.538) 18.000) At 31 December 2024 (17,931) (56.613) (74,5441 13. Analysis of net assets between funds Unrestricted Restrlcted Endowment funds funds fund$ Tolnl funds Fund balances at 31 De¢ember 2024 as represenled by,. Tangible fixed assets Investment ass¢ts Current assets Current liabilities Long-terni liabilities Provision for liabilities 2,249,431 28,119 123,768 154.6281 {506.512) {74,5441 1,050,606 3,300,037 176,1)88 123.768 154,62111 (506,5121 (74,.544) 148,869 1,705,tsJ4 1.050,606 1411.116lJ 2,l)()5.1 U(J 14. Unrestrlcted funds At At l JaDUgry Incoming Outgoing 31 December 2024 rourCeS r¢$ources 2024 1.6811,085 149.812 (72,264) 1,765.633 Page 18
Har¢field Parochial Charities Notes to the financial statements For the year ended 31 Deeember 2024 Is. Restrleted funds At At l January 31 December 2024 2024 1,050,606 1,050,606 16. Endowment funds At l Januory 2024 At 31 December 2024 Galn 145,580 3,289 1411.86C) 17. Transactlons wlth trustees Ther¢ were no transaction5 Wlth related parties with those persons and entities that are closely connected to the Charity or its trustees referred to as related parties, Page 19