Charity registration number 213579-R CRH CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CRH Charitable Trust
CRH CHARITABLE TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustègs Mf P M Stafford Mr3 D M ColquhDuft Mr H J J Rylands Mrs A Falk Dr D Hyland Mr S D1n {8pwJint•d 21 March 20241 Charity number 21357&R Prfnclpal office CRH Clwil3tAe Tnjst Clo 8¢ylj Piofft Ltd G104 BoltonArena. Ana Approach HoTr¥ich Bolton BL6 6LB Audltor¥ DJH Mitten ClarkeAudil Limited BrKlgè House Ashley Road Hale CShire WA14 2UT Bankers Barfcays Bank Leicèster LE87 2BB Sollcltors Land LLP 10-14 Markel Str88t Attrincham WA14 1QB AddleshawGoddard LLP One St Pelerfs Square Manthèsler M2 3DE Invvtment advlsors Sarasin & Partners Juxon House 11X) St Paul's c1rChY8rd LorKk)n EC4M 8BU CCLA FurKI Managers Senalor House 85 Queen Victor London EC4V4gr
CRH CHARITABLE TRUST CONTENTS Pagv Trustees. report Stalemenl of Iwstees. iesponsibilities Independent auditorfs report Statemenl of finanaal acth¥itES 10 Balance sheet 11 Notes lo the ffinancial slatemenls 12-22 Detailed income and expendilure 23
CRH CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Trustees report The trustees are pleased lo present their annual report and finanual staternents ft)r the year ended 31 March 2024. Objectives and activities The charity was set up in 1842 by an Ad of Parfiament tr) operate a hO$"t31 addressing mental health illnesses. In due course. the charity became known as Cheadle Royal Hospital. In 1994 the charity sold the assels and undertaking rel8ling lo the operation of Cheacsle Royal Hospital whilst having 8150 entered into an agreement for the development into Cheadle Royal Business Park ol its surrounding land. Thereafter. the charity retained all its income artsing until a new scheme lor the charity, which was renarned CRH Charitable Tru51. received the a55enl of Parliament on 9th Apiil 20. The chaiity wa5 then able lo apply its income in accordance with new objects prescribed in the scheme. The objects under this scheme are.. to relieve persons who are sKk. convalescent, disatAed. handicapped w infirm and in particular, but not exdusNely, such persons who are suffering from mental illness in any of its fornis.. and lo pronk)te or assist in the promotion of research into ihe alleviaiion or cure of mental illness in any of ils ft)rms. The trustees confirm that they have referred to the Charity Commission's génei81 guidance on public benefit when reviewing the charity's aims 8nd objedivès and in F4anniThJ luture activiti.es. Grant making policy The chaiity's grant making policy has been established lo achieve its otyects forthe benefit of the publ. The charity invites tsnline applications at htt s'lAww.thecthcharitabletrust.or which meet its objectives Applicalions must contain 8 summary of their proposals which are then considered at a quarterfy rneeting of the trustees. As part of the assessrnent Pr(5$. granis over a minimum Ihreshold will be subject lo a visit 8nd diswssion with the applicant organisation. Thereafter. a report will be drafted for consideration by Ihe tsuslees. The trustees are williThJ to COnder granls covering up to three years. nditsOnal on satisfactory interim progress ieports. Eligibility for grants is usually restricted lo applicants who are registered charities wth al least a two year history and who have relevant expertise. in order to ensure that Ihe benefils to Ihe intended benefrciaries a of a high quality. The tiustees are particularly keen to encourage new and. hopefulty. sustsinable volunteering projects. The trustees are mindfijl, when approving applications, that there should be r•) discrimination in the selection of intended benefiriafies. Investsnent policy The trustees are 8uthorised to invest in suth assets as they see fit. Accordingly. the trustees have established a policy of prudently managing the charity's investment funds by gianb.ng discretionary investmer¢l authority to external professional fund managers. In July 2022, the tiustees apwinted CCLA and Sarasin & Pariners as joint Investment Managers wilh discrelion8ry investment powers lo rnaximise total retums on the Irust's investment p0110$ wrth a laiget of achieving returns of CPI plus 3/0 over the investrnenl cycle. Trustees are advised that this factors in a level of risk appropriate to CRH Charitable Tfust.
CRH CHARITABLE TRUST TRUSTEES. REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Reserves policy The trustees have established a prudent policy of managing the charivs reserves in Ihe context Of theii investment policy. The trustees plan to distribute, each yeai. approxifflalely 3¢kn ol the charity's funds less expenses. with the aim, over the investment cycle. of preserving the real value of the charty's investment funds. laking inflation into account. The trustees recognise Ih8t investment returns will fluctuate and so maintain vnreslricted reserves as a buffei which allows lor Ihe charity's long term distribution poh'cy to be masntained. The twstees retain the diSCtion to increase ot decrease the level (rf distributions (directly impacting the level of reseThes) lo take into account their review of applic8lions received_ A permanent endowfflent fund was sel up at the direction of the charity commissioners. Income from this lund is required to be accurrbulate(l in the fund. Financial review Distributable incorne durin9 the year was £313,958 12023.. £224.0571. The significant increase is due lo the investfflenl of £3.480.000 being proceeds from ihe sale of investment properties dunno the year. It also lollows the appointment during 2022 of joint investment managers- CCLA and Sarasin & Partners. Gains on investments and from the sale of inveslrnenl properties duiing the year were a significant £4,719,59712023.' loss of£727.0141. In the Endowfftent Furtds. inveslmenl gains amounted £877.03712023.' losses of £536.5001 whilst nel gains on the sale of investment properties amounled to £3.696.53612023'. Trill. In the Unrestricted accumulated inrome fund, investment gains amounte(I 10 £146.02412023'. a loss of £1,5141. The gains on the sale of investment properties primarity reflected the sale of land located on Sl Ann's Road North. Cheadle. supplemented by a surplus on the sale of a lea5elK>ld property asset. Investrnent gains reflected a return to growth in international investment markets and the 15 of the investment managers. Expenditure in the year amounted to £265.789 12023.. £298.1291_ Grants amounted to £227,14912023'. £234,383). The excess ol investFnent incom8 over expenditure during Ihe year amounted lo £56.26012023.' a deficit of £71.302}. The five year trend of annual income and Ihe grants and invesimenl gains can be seen beh)w 5 yearsummary income and grants extended Gains/losses 2024 4.LW,(U) 400,000 300,000 2.Lll).L) 200,000 1(KJ,000 2019 20 2021 2022 23 2024 .i.(ts).( 2020 2021 2022 2023 2024 Investment income •Grant& paid Investrnent Eainslbsses PropÈrtygBin5 Total funds al year-end increased from £9,041.682 to £13.817.539.
CRH CHARITABLE TRUST TRUSTEES. REPORT (Continued FOR THE YEAR ENDED 31 MARCH 2024 Anzlysrs of grants During the period. grants amounled to £227.149 12023.. £234.383). This presentS 36 grants paid during Ihe year 12023 311. Giants ranged from £1.550 lo £10.431 (2023.. from £2.1 to £26.2001 with an average of £6,30912023'. £7,560). 8eneficiary organisations afe detailed in note 6. The truslees rnonitored and reviewed annual rewrts on the progress of mulli-year projects for which fijnding has been made fore approving subsequent payments. Acxoss the North Wesl the grants were sprea(18s folk)ws.' Donations by geographic region 2022 Sallord Manch8ster 3% Nonh Derbyshire. Cheshire Wesi Cumbria Bolton Wigan The Wir¥al Cheshire | 11% Tameside Siockport 51 Helens Cheshire Easi Salford, 286 Oldham. Lancashire 6Vu Norshwesi Manchester 17% . Liverpool., Boiion Liverpool Sallord rhe Wirral Salforo Manchester Cheshi16 Manchester Si Helens • Wiga Cheshire Wesi Cheshire East Norihwest siockport Cumbri LantashirÈ Oldhatn Tameside North Derbyshire
CRH CHARITABLE TRUST TRUSTEES. REPORT (Continued) FOR THE YEAR ENDED 31 AIARCH 2024 Stmctur•. govèrnance and managent The charity is a registered charty covered by a sd)eme sealed by Ihe ¢harity comrnissioners on 26 Maich 2006 and given effect by an order of the Seuetary of Statè on 9 April 2c. The scheme altered the existing lmInIstration of the thatity under which it was governed by regulatth$ uKxlated on 17 March 1950. Under the 20 Schem8. a nominated irustee musl be apkxmrhled by the Presidenl of the Royal College of Psychiatr151s and up to five co-opted tiu$t¢es must be appointed al 8 meeting of the trustees. The apwntment of the nominated trustee is for a period ol foul years arvj Ihe appoinlmenl cNpled trustees ts for a lod of fivè years. The trustees manage the day lo day operatK)ns ofthÈ ctharity. The charity does not employ any staff directty but does 'lise the services of n a Secretary & administratorernployed by Bed Profft Ltd aThJ, liil. a grounds maintenance manager. All trustees give of thr time freely and no Irustee remunerabon cff expenses were paid in yeai. The twuslees mel foul time8 during the year. The trustees who servèd during Ihe year aThJ up to Ihe date ol signature ol the financial stalernenls were.. Mr P M Slafford Mis D M Colquhoun MIH JJ Rylands MrsAFalk Di D Hyland Mf S Qevlin (Appoinled until 29 June 2025) (Appoinled until 03 Juty 2028) (Appointed until 29 June 20241 IApp)inted until 01 Juty 2026} (Appointed until 01 July 2025) {Apwinted 21 March 2024 until 04 JY 2027) BK)graphies of truslee5 are set out Peter Stafford- Chairman Pritsr to being appointed as a truslee, Peter h8d previoL s as a Iru5lee of Rathbone Training for 9 years. He IS 8 charter8d accwntant retiring as a partner and partnership board mernter of Dehjilte. Diana Colquhoun Diana is a lavryer Intm in the main retired) speoalising in wmmercid property transactions. She was a partner al Addleshaws in Manchester for many years and is currenlty a tx)nsultant at Lat)d Law LLP. Before joining Ihe trustees al CRH she was a govemor at Withington Girts Schod. and latèr a trusiee at th& Oavid Lewis Cenire. as w811 as havin9 interests in a numbei of twsinesswomen's groups. John Ryland$ PrK>r to being appointed as a truslee. John had seryed astrustee and lead treasurer at Togelher Trust and as a Iruslee al ManehÈstÈr Oulward BouThl Asswali'on. Folfving a seffomployed career in corporate finance, John presenl pursues a number of and private commercial interests. Amanda Falk PriDr to rÈtiring in August 2020. Amanda was a sdigtot advi&ng on trusts, lax and estates {usitwJ her maiden name, Freeman). This included 10 years as head of the privale diÈnt departnI of Myerson Soliators LLP. She also served as a dweclor ofTraffoid Shopmobility for 10 years. She ntsw enjoys a number of hobL4es. Declan Hyland DÈclan is th8 nominated trustee appointed ty Ihe President of the Royal Cole of Psychialrists. Dedan is a cortsuliant in gèneral aduli psythiatry and will be worki. fi¢yn August 2024. in an inpatient seiting in Runcom. He is emF4oyed by Mersey Carè NHS F1ndatiOn Trust and has been a cwsultant Augusl 2016. His current Trustee fole with the CRH ChariiablÉ Trust is his first role as a trustee arKI e Ihat he is realty enjoying. stephen Oevlin Stephen is a retired corporate lawyer Ihamng specialised in capital market transactions) and now sits as a Deputy District Judge Icivil) on the Northem Cir(JJiL He has cecently retired as Chair of Trustees of the David Lewis Centre having en a trustee there for 9 years.
CRH CHARITABLE TRUST TRUSTEES, REPORT (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Induc0 and trainiry of trustees An induction pack Is rnade avail8ble10 811 tru¢¢$ whKh iludeS a copy ofthe governing docurnent. a Summary ofthe charit$ objectives. a copy of the tharÈty (x)mmi%K)n's guide on the dub.es of a trustee and the mosl recent nanoal staternenls. Risk Thanagement It is the policy of the trustees to identsfy and rothely managè risks on 8 regular basis. The charity will in general be risk neutral in ils decision making. but Iwstees may &cept SFeeifitAIty idèntified rksks where their impact is w¢lhin ihe ch8rity's rtsk appetite and whwe there are clear strategEs in ace to mitigale and m11 the risk beirMJ fa. The following kèy pnnciplÈs outlinè th8 chatitrfs arvoath to risk management and intemal control.. the trustees have reswnsl"litY kn o¥erseeitwJ risk managernenl wrthin Ihe charity as a wlKIle,' an open and receptive approach10 501ving wisk ptouems is adopted by fv tnJstees.' the Secretary supports, advises ar implements le5 approved by the board oftrustees., th¢ tharrty makes conservat've and prudent recogni1 and disdosurÈ of the financial and non-financial irnplicions gf rths. Audltors The charily appointed as auditors during tho year DJH Mrtlen Cl8th¢. prevwsly known as HWCA A5trincham. trustee8' report was approved by the Board of Tr1*s. Mr P M Stafford Truste•.
CRH CHARITABLE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AIARCH 2024 The trustees are responsible for preparing the Truslees. Repcrft and the Finanttk81 Statements in accordance with applicablelawand United KingdomA¢xounting Stsndard5{Unil&l Kingdom GeneraltyAcceptedAco)unting Practice). The law applica@ to charities in England 8nd W81ès rèquirès the trustee$ to prepare finanGial slalemenls for eath finanrral year which give a tnk and fair view of the state of affaits ol charity 74)d ol thè incoming rÈsourtès and appll¢alion of r&sources of the charity for that year. In preparing these financial slatements, the trustees ale required lo: - select suitat4e accounting pdicies and then appty them consislenlty," - obseNe the m8thods and prinaples in the Charibès SORP.. - makejudgernenls and estimates that are reasonable arKI KxudBnL' - state whether applicablè 8ccounling standards havè bèen foll. 5ubied lo any malwial departu8 disdosed and explained in the financial statements; awwj - prepare the finala1 stalemerts M the gcAng ¢mm basi5 unless it is inapprwriale to presume that the charity will ¢xntinue in opeiation. The trustees are responsible lor keeping gjffioent accounling records that disclose with reasonable accuracy at any time the finalla1 p05ilion of the chatrty and enab lo ensure thal financial $taternents comply with the Charities Act 2011. the Charity (Accounts and Rèports) Regulatity 2008 and the provisions of the twsl deed. They are also restx)nsible for safeguarding the a5se15 of the charity and for taking 8$on$ble sleps f the pievenlion and deteGtign of fraud and other itregularities.
CRH CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CRH CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2024 Opinion have audited the financial statements of CRH Chaiilable Tnjst Ilhe'th8rityI for Ihe year ended 31 MaTch 2024 yhich comprise the slaternent ol finanrjal tllIes. the balan sheel al notes lo Ihg fin8nci81 slalement5. Induding signifficanl ac£ounting policaes. The financi reporting framèwork that has be•n applied in thÈir preparatK>n is applicable law ar United Kingdom Accounting Stsndards. i¥xJuding F[nancl Reporting Standard 102 Finan1 R&piwthng Stendard 8pp1¢8ble in lh& UK and Reputth"¢ of irtland (United KingTrJcrfn Generally A¢¢ep1ed Accounling Ptacticel. In our oKMnion. the finanoal statements.. give a true and fair of the state of the chanvs affa.rs as at 31 March 2024 and of its incorning resource8 and application of resoufces, for the year then ended., have been property prepared in accordance with Unrted Kingdom Generally AcceptedAccounting Practice" and havè bÈ8n prepared in 8ccordance with requirèm8nts ofthe Chariiies Act 2011. Basis for opinion W& conducted our audit in aceordanc& with Intemalty)nal Standards on Audthng (UKI {ISAs {UKI) and applicabl& law. (Jjr responsibilities under standards a lurther descn'bed in Ihe Auditoes sponSIblIS for the autt ol the Inancial slaten7enls section of our rewrt. are independent of the charity ir7 aC(y)rdance wrth the ethical requirements Ihat a relevant to our audrt of the fIrcial statements in t1 UK. indudirvJ the FRC'S Elhical Standard, and we have fttlfilled our other ethical responsibilities in ac£Ndartcè with thése requirémènts. We believe thaf the audit evidence we have obtai[1 ffI<ent 8nd approprie to wovwje a basis for our opinion. Conclusions relating to going concern In 8uditing the financial statèmènts. wtr hav8 cc4)duded thattruStees, use ofthe goiThJ concem basis ofaccounting in Ihe preparation of Ihe finanaal statements is appropriate. Based on tho work we have perkMft. have not idenlified any material unceriainties lating lo events or conditions that. indiv1dual er (xJllecb"vely. may cast S[gnffjanI doubt on the charity's ability to continu8 as a going concern lor a period of at least twelve months from %then the financial statements are authori$ed for issue. Our responsiENlitieg and the responsibilitses of the trusteeswith respect to going concem are described in Ihe rel&vant sections of this pOrt. Other infomiatlon The other information comprises the infomiatNJn induded in Ihe annual repcwt other Ihan the financial staten)ents and ouc audilo¢s report thereon. The truslees are respowble forthe other informatK)n eA)rrtaine(I within Ihe annual report. Our opinion on the financial stalerynts does not o)ver Ihe olher inforrTWtion and we do not express any form of assurance eoncluiion Ihereon_ Our responsibility is to rèad the oth Informati and. in doin9 so, consider whèiher the olhei information is rnaterially inconsistent th the finarKial s18tements or our knoedge obtaFned In the wurse of the audit. or otherwise appears lo be malerially misststed. If we identify such material In151¢nClQ& or apparent material rni5Statements. we are required to determine vknether this gives rise to a mat8ri81 misststÈmÈnl in the fillan(xal slatements themselves. If. based on the work we have performed. we condude that there is a material misststemenl of Ihis other Inf(malw)n. we are lo that fact have nothing to port in this regard.
CRH CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CRH CHARrrABLE TRUST {CONTINUED FOR fHE YEAR ENDED 31 AIARCH 2024 MatterB on which we are required to rèport by •xception We have nothing lo report in res o)fthe followiNJ matters in rdabon towhth the Charities {ArLnts 8TvJ Reports Regul8tions 2008 require us to report to you if, in our Wn1.. Ihe infom)ation given in the finarv81 stat8m8nts is IncL4is15tent in any rnalerial respect with Ihe trusteès, report.. or suffKAenl accounting records have Th)1 been kept.. or Ihè finan(#al statements are not in a9reemenl with the accounling recfjrds: ty- we have nol recerved all the informabon and explanatn$ we cewire for cyjr audtt. R¢sponsSbilities of trust$ As explained mole ful in the statement of trustè•s' responsit4lities. the InleeS are iesponsible for the preparation of the financi81 statements and for being satisfied that they give a true and lair view. and for such internal Contr as the trustees determine is necessary to the w¢paralwJn of financhil sialement$ that are free from material nwsstalement. whether due to fraud or error. In prepariThJ the finar181 statements. the trustees are responsib for asseswg the tharity's ability to continue a$ a goiThJ concem. disdosing. as applicable. malters re181ed lo going cern at¥J using the gcng ¢))nwn basis of accountiro unless the trustees either Intend to (tase operations. or havè Tb) realists'c allematNe to do so. Awlitorfs r•sponsibllitles for th? audit of the flnancial staternents have teen apiThted as audilor under secim 145 olthe Ch3ntiesAd 2011 and report in 8¢rdance vriih theAcl and reEevant iegulatK)ns made or haviw effecl thereund&r. Our objedives a to obtain reasonable assurance abt whether the fJn8ncial ststements as a wle aro free from m818rial rnisslatemenl, whether due to fraud or erfor. arKI lo issue an audito¢s P)rt that IludeS our opinion. Reasonable assurancg is a high level ol assurance ixrt is rt a guaranteè Ihat An audit conducled in accordance wrth ISAS {UKI will aayS detect a material misslalement exists. Misstalemenls can arisÈ from fraud or error and are c¥Jnsidered material if. individualty Dr in thè aggregate. they could SonablY expected to influence the econryni¢ de(i$ions of users taken on the basis of ihese financial Statsrn. The exlenl to which oui procedures are capable of dete¢br¥J irregdarities. indudiThJ fraY, 18 detailed below. A fijrther desuiplion of our responSitieS is availablè on th8 FinanrAal ReportiThJ Council'5 website al.. https'.11 www.frc.ory.uk1auditSrespoTrslb1lIt5. This desthption forms part of our alrt08 port. Other matsrs Your 8ttenlion is drawn to the faet that charity has prepared financial 51alernents In accordance with Accounting and Reporting by Charities.. Stslemenl of Recommended PraclKe applitsble to tharitS Preparing their a¢counts in accordan with the Financial Rèw)rting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amendedl in pTeferere to Ihe Accounting and Reporting by Charities.. StatenEnl of R¢commended Practicè ied on 1 April 2005 which is relerred lo in the extant regulalions bul has rthi bÈÈn wrtlmyrawn. This has been fjone in order for the financial stalemenis to provide a Irue and fair view in accordan with current Generally Accepted Accc*Jnting Practice.
CRH CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CRH CHARITABLE TRUST (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Use of our report This report is made solety lo the charrtrfs tnJste8s. as a tty, in 7Lcordaw with part 4 of the Ch81ities (Accounts and Reports) Regulali)ns 2Cth. Our audrt work has been und&laken so that we mighi state to the chaiily's Iruste¢s thoiÈ mattèrs wè arè ruired to state to them in an audilorfs report and for Tr) other purpose. To the fullest extent pemitted by law. we do not accept or assume responsibih.ty t¢> anyono otlwthan the dtaiity and the chanty's tru5tee5 a$a tsdy,f r our aud. wcwk, lor this repwl. or for thè opinKX)s we havè f(med. Candlcè ynon CCA (Senior Statutory Auditor) forand on behalf of DJH Mltten ClarkÈ Audit Llmlt•d 111zo£9- Chartered A¢eountaftts ststutory Audit Biidge House Ashl&y Ro Habe Altn'ncham Chethire WA14 2ur DJH Kkn"tt¢n Clarke Audit Limrted is digilje f( appcxntment a5 ol thÈ Charity by virtue of its eligibility for appointment as auditor ofa c(Mnpany under seck*n 1212 ofthe Compan$ Aci 2CQS.
CRH CHARITABLE TRUST STATEMENT OF FINANCIALACTIVITIES AS AT 31 MARCH 2024 Unr8strlct•d Endowm•nl furMI$ lunds 2024 2024 Tolal Unrestricted ErKlowment funds funds 2023 2023 Total 2024 2023 Notes Income from Investments Other income 304.813 9,145 4.911 3.180 3CIg,724 12,325 224.057 2.770 226,827 Total incorne 313.958 8.091 322.049 224.057 2.77D 226.827 Expenditure on- FLFnd management 2,987 19.513 22.5 Chantable activities Grant5 payable Support and Govemance Legal and professional Fee5 10 227.149 227.149 234,383 234.383 33.184 33.184 29.743 29.743 5,456 11.503 11,503 Totsl expenditure 265.789 265.789 267.113 31,016 298,129 Net income & Èxpenditure before gainsl{losses} on vestments 48,169 8.091 (43.056} 128.246) 171.3021 Nèt g8inslllosses} on invoslmenls 11 146,024 4.573.573 4.719.597 1190.514) 1536.5001 1727,0141 Net movèmènt in lund$ 194,193 4.581.664 4.775.857 1233.5701 1564.746) 1798,3161 Fund balances al 1 April 2023 1.816.408 7.225.274 9.041.682 2,049,978 7.790,020 9.839,998 Fund balances at 31 March 2024 2.010.601 11.806.938 13.817.539 1,816,408 7.225,274 9.041.682 The Statement ol ffinaniial adi¥ities includ&s 311 gains and k>sses recognised in the year. All incorne and expwKlIlu derive Itom ¢onth"nuiny actjvrties. The notes on pages 12 to 22 form part of Ihese financial stsfements. 10
CRH CHARITABLE TRUST BALANCE SHEET AS Af 31 MARCH 2024 2024 2023 Nots Fixed assets Tangible assets 13 221,859 221.859 Investments 14 13.280.865 8,765,656 13.502.724 8.987,515 Current assets Debtors 15 11,584 1,410 Cash at bank and ir¢ hand 321.075 58,457 332.659 Creditors.. amounts falllng due within one year 59,867 16 117.844) {5.7001 Net culnt assets 314,815 54,167 Total assets less Current liabilitiès 13.817.539 9.041.682 Endowment funds Gener81 endowment fund 17 11,458,862 6.899,162 Pemanent endowment fund 17 186.328 164.364 Revaluation rèseThe 17 161,748 161,748 Income funds Unrestricted accumul8led in¢ome lund 11.8,938 7,225,274 18 2.010.601 1.816.408 13,817.539 9,041.882 The notes on pages 12 10 22 form part of these financial stslemenls. The financial statements were approved by Ihe Truslees on ............ .. MrHJJR Trustee ands
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS AS AT 31 MARCH 2024 Accounting policies Charity information CRH CharItae Trusi is a registered charity- 1.1 Accountlng converitio The financial staternents have been wep8red in acwdan¢ewth U)e¢hority'5goveming document. the Charities Act 2011, FRS 102 The Financial Reptsrting StaNlard ap3e in the UK and Republicof Ireland l°FRS 1021 and the Charities SORP 'Accounling arKI Rewrtirwj by Chanties." Slatemenl of Recommended Practice applicable to charities preparing their aec(MJnts in Ordance wilh the Financial Reporting Standard applieabbe the UK afKI Republic of Ireland {FRS 1021" {eftIVe 1 January 20191. The charily is a PublK B8nèfit Entity as defined by FRS 102. The charity has taken advanta of the provisio Trn the SORPfor tharities not to prèparè 8 Stslemenl of Cash Flows. The fin8nci81 slalemonl$ havo departed from Ihe Chartbes {ACcjnts and Reports> Regulations 20[18 only lo Ihe extent required to provide a true and fair view_ This dep8rtuie has invofv¢d foll¢)wing the St8tement of Recommended Prli for charities app"n9 FRS 102 r8th8r than th8 vèrsK)n of thè Staternenl of Recommended Practice which is refe(l lo th8 Regulab"ons but which has sincè bèèn witlKlrawn. The financial slalemenls are prepated in sterlirKJ. is Ihe funclional currency of the charity. Monetary amwnts in Ihese finanoal stslements are rounded to Ihe nearest £. Th8 financial statements have been prepared under the hiStOral cosl convenlioii, 8nd the win(xpal K£ounting policies adopted are set out k)w. 1.2 Golng concern the time of approving the financial statements. the trustees have a reasonable expeciation Ihat the charity has ad31& resourcès to continue in operational eXtsce for the foreseeable future. Thus the Irustees ntinuÉ to adopt Ihè going eonce(n basis of accounling in pParIng the financial statements. 1.3 Charltable funds Unrestricled funds are availab]e fot Use at ts discli0n of the trustees in furtherance of their Gharitable ¢bjÉctivés. Endowment funds are SleCt to s]fiC condilions detailed in the charivs g¢wemin9 docuTnenl. 1.4 Income Overall, iome is recognised when Ihe tharity is legally entitled to il after any perfrnanCe conditions have been mel. the amounts can be measureil rdiabty. arKI rt ts pfobabk that in[¢ will be received. Income from investments is re¢ognised when receNae in cash temis from the investment porlfolio$. 1.5 Expenditure Expenditure 15 recognised once there is a legal or 1X$t[e oblig*"on to transfer e(x)Th)miG benefrt lo a third party, it Is probable that a transfÈf of e(X)nOm nefitS 11 requi in settMent, and the amount of the obligation Can be measured rdiably. 12
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024 Accounting policies Icontlnuedl 1.6 Tangible fixed assets Tangible fixed assets are initialty nuUd al cost sub8equenlty measured at cost or valuan. nel of depreciation and any Impairnt losses. The Mly assets held by the charrty in the year relale to freehoklland which is not depreryaled. Th& gain of Ioss arising on thè disposal ol an asset is determined as the difference belween the sale ptcveds and Ihe carrying value of the asset. and is recognised in statement of financial 8Ctivitiès. 1.7 hnpalrnient of fixed assets Al each reporting end dale. the charity reviews the carrying 8mounts of its langibk assets to detemiine whether Ih8rè is any indication that those as3ets have suffered an impairnnt los5 If any suGh indication exists. the recoverable amount of Ihe assel is eslimaled in order to deiermine the èxtènt of the imp8imènt loss lif 8nyl. 1.8 Flxed Asset Investments Fixed asset investments are initialty measured at tr8nsth W eXdlIng Iransaction costs, and are subsequentty measured at fair value at each reF¥Jth"ng dale. Charyes in fair value are recognised in net inGomellexpgndilurel for the year. Transaction costs are expensèd As i[[red. 1.9 Cash and ¢ash gquivalents Cash and c8sh eqUiV8ntS indude ¢xsh Trn hand, deF#)siis hdd at ¢al wlh banks. olh8r short-lerm liquid investments with oti9inal maturrties of three months or less. and bank overdrafts. Bank overilr8fts arè shown ¥hthin borrowings in current liatslities. 1.10 Financial instruments The charily has elected lo apply the provistons of sect 11 'Ba Finanlial Instwments, and StIOn 12'0ther Financial Instrunnts Issues. of FRS 102 to all of rts finanual instruments. Fina1 instrumenls are recognised in the charrt5 baLance sheet Ihe charity becomes party lo the Lvnltactual provisions of the inslrumenl. Financial assets and liabilities are offset, wrth the net amounts presenl•Y in Ihe financial ststements. when there is a legally enforCeae right to set off th8 rWn1S amcwnts arKI there is an intenth)n to settle on a net basis or to re81ise the asset end settle Ihe liability simultaneousty. 8•sie financial assots Basic financial assets. whth indude debt0 and cash and bank balances, 8re inilkqlly mèasured at tr8nsaction price including transactitsn <xJ$ts and a subsequently Clled at amortsed cost using the effective InteSt thod UnSS the arrangemenl eonslitutes a finanang transaction, where the transadion is measured al the present value of the fuluie reGeipts disccKJnted at a markel rate ol interest. Financial assèts cl&ssifi8d as receivable within one year *e not amortised. 13
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024 Accounting policies Icontlnuedl 1.10 Financial instrumonts Basic financialliabiliti8S Basic fin8nci81 liabile$. ind(&Jing rJeditly5 and b8nk108ns are inilialty recognised at transaGlion price unless the arrangement l$tItuteSaan¢lng transac¢. wherethe debl In51rneTrl is Measu at the present value ol the future payments discounted al 8 matket rats of interest_ FInala1 liabilities classifièd as payable within one year ara not 8mortis8d. Trade creditors are obligations to pay for go1$ ot set¥iLW that have been acquired in the ordinary cwrse of operations from suppliers. AmIntS payable 8rÈ classthèd as currÈnl liabililies if payment is due within one year or less_ If noL they are presenteil as non-current liabilities. Trade creditors are recognised initialty 81 transaction ice and subsequenlty me8sured 81 amrti8e(I cost usng I1 effective inieiesl method. D8r•cognition of linanclal liabfflliti•s Financial liabilities are derecognised when the charity's Contradl1 obb"galK)ns e¥Fxre or are discharged or carlled. Critical accounting tirnateS arKI judgements In the application of the charity s accounting pOle5. ts trustee5 are rewired to make judgÈmÈnts, e5tirnates and assumptions about the ¢arying 8munl ol awts arml liabilitbes that are not readity apparent frorn other SoUrs. The estimates and assooated assumptions are based on histor1 experience and other factors th81 are cOndered to be relevant. Actual resuhs may drfter from Ihese estimate$. The èstim8tèS 8nd undÈrtying assumptions reviÈwÈ(l M an Oing basis. Revisions to 8¢counting estimates are recognised In period in which the estsmate is reSed Whe the revision affects only that period, or in the Feri¢xl of the revision and future periods where the revisK)n affects bolh wrrent aThJ fLrture perio(Js. Inv•sbn•nts Unrestricted EndOwt Total Unrestrlct•d lunds fund funds 2024 2023 Endowfflent fvnd 2023 Totsl 2024 2024 2023 Incorne from investments 304.813 4.911 309.724 224,057 2,770 226,627 14
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) ASAT31 MARCH 2024 Other income Unrnstrlcted Endovmient funds fund5 2024 2024 Total Total 2024 2023 Management lee rebate Interest rled 614 8.531 3,143 37 3,757 8,568 9.145 3.180 12,325 Fund management fe88 Unrestricted funds Endowmènt funds Totsl 2024 2023 2023 2023 In¥Èstment m8n8gemÈnt fees 2.987 19,513 22,500 The new fund rnanageis appointed in tharged fees 7Mlhin the fvnds tolalliny £72,272 in Ihe year (2023.. £30.755}. Previously the pcKVolio investment managers charged fee5 outsidg È)f Ihe lund$18$ disdosed above). Perio(keally. the inveslm8nt manager may rèbate 8 tion oftheir f8es. This rebate is disclosed as in note 4 above. 15
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024 Grants payable 2024 2023 Grants to insliiutions.. Together Trusl Neurofherapy Centre Just Drop In Yotrth Starling WAVE Acfventurè Cheshire Young Carer¥ James's Place Charity Manchester Carers Centre Rossendale Trust Stkport Pr<KJress & Reex)very Bdton wanderS in the Community West End Impa BIRD Kings Cornmunity Leigh Communty Trusl Bolton Adul(Autism Panathlon Bipolar UK The Uphill Ski Club Manna House Olympias Music Foundation Time Out Group Nhwest SMILE GROUP Arts For Recovery in the Communily Autism InSe Salford Refugee Link ISarelE) SCIal Educational Needs Families Support Group Greater Manchestei Community Chaplaincy Woodwork To Wellness Reubens Retreat Shaftesbury Youth Club MedE4uip4Kids Anthony SedC Fund Demen118 Together Wrral The Hope C8ntre River of Lile Slt¢kport & District Mind Tom's Trust Wilmslow Youth Growing Well - Tebay Manchester Action on Street Heatth Neshom Key Changes 10.431 io.oor) 1Q.CQO lo.0 lo.0 10,tKo 10,000 10,000 10,000 10.000 7.5 7.5C 7.5CrfJ 10.0 10,000 10,000 7,500 7.500 20,OQM) 6,440 6.365 6.000 5.365 5,200 5.000 5,OOD 12,688 10,000 s.0 s.0 5.CQO 5,000 4,500 4.200 3.750 3,393 3.000 3.000 3.OOf) 1.955 1.550 4,500 3.000 26,2rKI 10.OCKJ 10.000 7,5(K) 7,500 7.500 6,250
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024 Grants payable 2024 2023 understatIng Aubsm Breakdown Bton Fallen Angels Dan¢* The81 Fleetwood Town Community Tnjst FadOM from Torture Henshaws JustLife Samaritans South Manchester Down Syndrome Support Group Stars and Stitches Child Brain Injury Dance Syndrome Wllow Foundati¢n 6,000 5,(X)O 5.tM)D s.0 5,WO 5.CQO s,0 5,000 3,745 2.000 2,500 227,149 234,383 Commitments As at March 2¢r24. grants committed to be paKI in future w.ods amounted to £136.303 (2023.. £92.9401. 7 Supp)rt and governance Support Governance costs 2024 Support Gov•rnanc• costs costs 2023 Insuran Auéil Accountan retarial fees Stage Bank tharges Grounds mainlenan¢e costs 2.185 2.185 1.982 5.600 1.000 13.699 5.600 1.000 3,425 22 1,140 9,113 1.140 12,151 10.274 515 515 11.624 11,624 6.925 6.925 24.(2 9.1Z2 33.184 19.6 10.047 29.743 Insurance. Audit. ArLounlarKy. SioragÈ and Grrxjnds MaIntenar are within the Direct b8S15 of allTh3lion. Secretarial fees and Bank charges are wrthin Ihe Usage baS ofabcation. Support cosls irKILKles payrnents to the auditss of £6,(1l2023.' £4.7cl) for audit fee$. 17
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) AS AT 31 MARCH 2024 Twste None of the trustees lor any penwns Gnected th them) [e1ved any remuneration or benefits from the charity during the year. Nts Éxpensès wer8 Nmbursed to Irustees in the Year1223- none). Employeg There were no employeès or emsknyee remunerabon during the year {2023". None). 10 Legal and professlonal fees Unrestrlcted Endowment funds funds general 2023 2024 Legal and professi81 fees 5.456 11,503 Where legal and profeSSal fees ielate lo a sale transacth)n completed in th& peri1. the èxpenditur• is netted oft against the corresponding incorne. as detaile(l in note 13. ere there is no completed transaction, legal and professional fees afe expensed against acumulated income. 11 Net gainslllossesl on investmgnts Unrestricted ErKlowment fvnd funds 2024 2024 Total Unrnstrlcted Endt)wment fund funds 2023 2023 Total 2024 2023 Gainlllossésl on investments Gain on sale of iwealment rrfopèrtiès 146.024 877.037 1,023.1*1 {190.514} 1536.50D) 1727,0141 3.6.536 3.,636 146,024 4.573,573 4,719.597 {1,514) (536.50DI {727.014} 12 Tax8tl¢n The tharily is exempt fM tax on irrfxjme and gain5 faming within section 505 of the Taxes Aci 1988 or section 252 of the Taxalion of Chargeable GainsA¢t 1992 lo the exlent that Ihese are to ils charitable objects. 18
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) AS Af 31 MARCH 2024 13 Tangible fixed assets Cost orvaluatlon Fre8hok1 land and lI1n9 At 1 April 2023 221,859 221,859 At 31 March 2024 Land 8MI buildings with a value of £221,859 were revalued al 31 Match 1993 based on p[ofessial atfvice obtained by the trustees. on an existing use basis. This valu8tn wa$ treated a$ deemed ¢o$l in rdance with Ihe transitional provisions for FRS102. Al 31 Marth 24. had the revalued assets been cairied al histor cost les5 accumulated depreciation and 8ccumulated impaiment losses, their carfyiFwJ amunt woukl have tken 8pproximatety t.111 {2023 £60.1111. The revaluation surplus is disdosed face ofthe Bala SheeL The freehold land xmouftting lo £221.859 {2023: £221.8591 has tJ)t been deprec4ated. The land is not part of the Charitys functional a55ets. During the year, the Charity sold a &acre plot of land. wlising gross pffKeeds of e3.s00.)1£3.48l,493 net ol cosls). In addition. the Charity, received congderation for agr88ing to vary the terms of the leases for 8 building on Cheadle Royal Business Park. teaIisin9 gross proceeds of £225.OOD {£215.043 net of costs.) The book valuè of both 8SSÈtS W8s £nil. 14 Flxed asset inveslments Listed investsnents Cash in portfolio Total Cost or valuatlon Al 1 April 2023 Additions Valualion changes 8.765.614 3.488.764 1.023.142 42 3.303 8.765.656 3,492.067 1,023.142 13277.520 3.345 13,280.865 At 31 March 2024 Carrying arnount At 31 MaiGh 2024 13.277.520 3,345 13.280,865 8,765.614 42 8,7e5,656 Ai 31 March 2023 19
CRH CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONTINUED) AS Af 31 MARCH 2024 15 D&btors: amounts falling duè wlthln onè yèar 2024 2023 Prepayments arKI accrued income 11,564 1,410 16 ¢redlt¢xs: amounts fallin9 due withln one yeai 2024 2023 Aral$ 17,844 5.7C(J
CRH CHARITABLE TrUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Endov•Tnent fund¥ The Pemianenl endowment fund indudes an arnwnt set asidè atthÈ direction tsfthe Charity Commissioners in order to recoup £1.239.371 previously to dear the ¢*arhtys debls_ The Commissioners (firected the truslees to purchase Inveslments wilh an orvJinal value of £51.0 {cUrt value of £181,364 - 2023.. £164,365) and to amulate income and c4ital appreaation thereon until the sum Snt Of £1.239,371 has been recouped. When the full sum has been recouped the funds VAII remain as part gf the permanent en(hJwmentof ihe charity. Movement In fvnds Ban¢• al Ir(nI Resourc R8valLMtlons expended galns and 108888 Balan¢9 at 31 Mar¢h 2024 Endowment funds General endowment fund 6.899.162 4.5.670 11,456.862 Pemianent eThJowment fu1 164,364 5.C61 16,903 186,328 ReVaIlon SeThe 161.748 161,748 7.225274 8.091 4.753,573 11,806,938 Revaluatlo Balanc? •t l Awil 2022 re¥ourus al bssoB 31 March 2023 Endowment funds 7.790.020 2.TlO {31,016) 1536,5001 7.225,274 7.790.020 2.770 131,016) I536,5() 7,225,274 21
CRH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Unrestricted funds The following are gener81 funds whKh are available to be spent for any of the charity's purposes. Movwn•nt In funds Iry1n9 Resources R•v4lu4tlons l Awil 2023 rgsour¢ oxp•nded galn5 and losses 31 Mar¢h 2024 General fund 1.816.408 313.958 (265.7891 146.024 2.010,601 1.816.408 313.958 (265.7891 146,024 2,010,601 l Apwll 2022 galns and 31 March 2023 Go1 fund 2.049.978 224.057 P67.1131 {19),5141 1.816,408 2.049,978 224.057 P67,1131 {190.5141 1,816,408 19 Anatysis of net assets heln fvnds Fund balances at 31 March 2024 are represented by: Unrestflctsd EThJrrt Toial UnMtfi¢t¢d Endom8nt fvThd5 fvhd• Totsl 20Z4 2024 2023 2023 202J Tangibl• assets Investments Debtors Creditors Cash al bank Inter funij balance 221.859 11.417.416 221,859 13.280.865 11,584 117.8441 321.075 221,859 221,859 1.717.216 7.048,440 8.765,656 1,410 1,410 15,71X)) 15.7001 58,457 58,457 45,025 1.863,449 11,584 {15.5931 151.161 {2.2511 169.914 145.025) 2.010.601 11,8(E.938 13.817.539 1.816.408 7.225.274 9.041,882 Relatd paty transactions Thère were no disclosable relat8d party transactths duiiny the yèar P023- none). 22
CRH CHARITABLE TRUST DETAILED INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 MARGH 2024 Detailed Income and expenditure account for the year ended 31 March 2024 2024 2023 Incom• Investment Managèment f&8 rebate Inleresl ieceived 309,724 226,827 3.757 322,049 226,827 Expenditure FuThJ management lees Insurance Audit Accountanc Sècrétarial fees Slotage Bank charges Grounds maintenance CA)sts {22,SCQI 11.9821 15.6C(11 11,0001 113,6991 1221 15151 16.9251 111.5031 {2.1851 {6.0001 (1,1401 112,1511 {841 111,6241 (5,4561 Legal and professional fees Nèt surplus for the year before investment gain$l{Ios8esl and grarts pay8ble 283,409 183.081 Granls paid 1227.149) 1234,3831 Net Id•fieitVsurplus for th8 yéar b•fore investment gains1(lossès} and aftèr gfdnts paid 562PA) (71.3021 23