Charlty registration nurnber 21357941 (England and Wale$} CRH Charitable Trust Annual report and financial statements For the year ended 31 March 2025 CRH Charitcd)le Trust
CRH CHARITABLE TRUST LEGALAND ADMINISTRATIVE INFORMATION Truste&s Mr P M Stafford Mrs D M Colquhoun Mr H J J Rylands Mrs A Falk Dr D Hyland Mr S Devlin Sècretary Mrs E Wilkler Chadty number 213579-R Registered offlce F114. Bollon Arena Arena Approach Horwich Bollon BL6 6LB Auditor DJH Audit Limited Bridge House Ashley Road Hale Alirincham WA14 2UT Bank•rs Bardays Bank PIC Leicester LE87 2BB Solicitors Land Law LLP 11>14 Market Street Allrincham WA14 1QB Investrnent Managers Sar8sin & Partners Juxon House 100 St Paul's Churchyard London EC4M 8BU CCLA Fund Managers Senator House 85 Queen Victoria Slreel London EC4V 4ET
CRH Charitable Trust Contents Page Trustees, report Statement of TnJstees' responsibilities Ind&p8ndent auditorfs report Slalemenl of ffinanual actNilies 10 Balance sheet Note5 to the linancial slatements 12-21
CRH Charitable Trust Trustees. Report For the year ended 31 March 2025 Trust8es' report The trustetrs present their annual report and finana815tatements for the year ended 31 March 2025. Obleclive5 and a¢tlvltles The charity was originally sel up in 1842 by an Act of Padiam8nl to operate a hospital addressing mentsl health illnesses. In Ilue course. the charity became known as Cheadle Royal Hospital. In 1994 the charity s(d the assets and undertaking relating lo the operation of Cheadle Royal Hospital whilst having also entered into an agreement for the development. into Cheadle Royal Business Park, of ils 5urrotsnding land. Thereafter, Ihe charity retained all ils irwme arising until a new scheme for thè charily, which was renamed CRH Charitable TTU5t. ceiVed the assent of Padiament on 9th April 2006. The charity was then able lo apply its income in accordance with new objects prescribed in ihe scheme. The objects under this scheme are.. il to relieve persons who are sick. convalescent, disabled. handicapped or infirm and, in particular, but not exclusively. such persons who are suffering from mental illness in any of its fornis; and ill lo promote or assist in the promobon of research into the alleviation or rJJre of mental illnèss in any of ils fomis. The trustees confim thal they have referred to the Charity Commission's general guidance on public benefit when raviewing the charity's aims and objectives and in planning future aclivittes. Grant making policy The char*ly's grant making policy has been estsblished to achieve 115 objects for the benefit of the public. The charity invites online appli110n$ at h 1hh.lhe¢th¢h0ri which meet its objectives. ApplicatiS musl conlain a summary of their prowjsals which are then considered at a quarterly meeling ol the trustees. As part of the as5e5sment process. gran15 over a minimum Ihreshold will b8 subjecl to a visit and discussi wth the applunl organisation. Thereafter. a port will be drafted lor cOnSeratIon by the trustees. The trustees are willing lo consider grdnts coverin9 UP to Ihree years, conditional on satisfactory interim progress reports. Eligibility lor grants is usually restricted lo applicants who are regislered Chare$ with at least a Iwo ye8r history 8nd who have relevant expertise. in order lo ensure Ihal Ihe benefits lo the intended beneficiaries are of a high qualily. The Iruslees are particularfy keen to encourage new and. hopefully. sustainable vdunleerTrng projects. The Irustees are mindful, when approvirKJ applications. thal there should be no ¢Jiscrimination in the selection of intended beneficiaries. Investment poli¢y The trustees are authorised lo invesl in such assets as they see fiL Acc(Kdingly. the trustees have established a policy of prudently managing the Charis investment fijnds by granbng discretionary investment aulhorily lo external professional fund manage¥s. In July 2022. the Ifuslees 3ppoinled CCLA ar Sarasin & Partners as joint ITiveslment Managers with discretionary investment powers to maximise lot81 relums on the trust's investment portfolios with a target of achiewng returns ol CPI plus 3% over the inveslmenl ¢yde. Tnjstees are advised Ihal Ihis faclors in a levèl of risk appropriale lo CRH Charilable Trust.
CRH Charitable Trust Trustees. Report (CONTINUED) For the year ended 31 March 2025 AchleveMant$ and pgrformance During the period. grants amounted to £343.070 12024.. £227.1491. This repnts 38 grants paid during the year12024.' 361. Grants ranged from £3.750 10 £38.500 (2024.. from £1.5S) 10 £10.4311 with an average of £9.028 {2024.' £6.3091. Beneficiary organis8tions are detailed in note 5. The trustees monitored and reviewed annual reports on the progress of mulli-year projects for which funding has been madè before approving subsequenl payments. Across the Nmh West the grants were spad as f(Alows'. Donations by geographgic region 2025 Ashtr Airrincham Tiaflofd 611kenhe Byatkt Ciockpc Saiftxd Frerron 801 7% Ilorihwesc Ilorth'.West Chead'.e Moreca Che1 Mefkn<sde umbna 4lan£heg Lancathi Bkbn 1 6ktLtTrl • BolCXI Lawash re • Marfriea£Y * • l.1oiixatrtE lic*-.h'.4'&7 b t4c%Ehll'e51 • PrsG
CRH Charitable Trust Trustees. Report (CONTINUED) For the year ended 31 March 2025 Flnanclal rovlew Distributable incom8 during the year was £371.65212024= £313.9581. The increase takes accounl of the full year's benefit oflhe investment of £3.480.000 being proceeds from Ihe sale of laThJ during the prior ygaT. There were no gains fmm the sale of land during the year12024: a gain of £3,696,536). In the Endowment Funds. investment losses amounted £193,803 12024.. a gain of £877.0371 In Ihe Unrestn"cle(l accumulated income fund. invesltnenl losses amounled to £36,04912024.' a gain of £146.024}. The prior year gains on the sale of land primarily reflected the land located on St Ann's Road North, Cheadle, supplemented by a SU5 on the sale of a lÈasehok1 propety asset. Expenditure in the year amounted to £410.137 {2024= £265.789). Grants amounted lo £343,070 12024.. £227,149). The deficit ol investsmenl income over expenditijre during the year amounted lo £25.24712024.' a gain of £56,260). Gains/losses 2025 5yearsiimmary income and gfanls exlended 4.LYJO.LKO 3,(X)O,( 400.0 0.0 a)0.0 I,(x)o,( ioo.wo 2U2J 2([22 21P24 2025 .I,CKO.WO 2021 2022 223 2020 •PropMygrtins Crat45paid Total lunds al year-end decreased from £13.817.539 to £13.562.440. RoseThe$ Pollcy The trustees have established a prudenl policy of managing the Charity's reserves in the context of their investment policy. The trustees plan to ¢Jislribut8. each year. approximately 3% of the charity's furhds less expenses, with the aim, over the investmenl ¢yde. of preseThing the real value of the charity's investment funds. taking inllation into account. The Irustees recognise that investmenl retums will fluctuate and so maintain unrestricied reserves as a buffer which allows for the chartws long temi distribution policy to be mainlained. The Imstees retain the discretion to increase or decrease the level of distributK)ns (directly impacting the level of reseNesl lo take into account their VIeW ol applications received. The smaller Permanent endowment fund was set up al the direction of the charity comrnissioneis. Income from this fund is required lo be accumulated in the fund.
CRH Charitable Trust Truslees. Report (CONTINUED) For the year ended 31 March 2025 Structure, govomance and management The charity is a registered charity covered by a scheme Sea by the charity coMmissnerS on 26 March 2006 and given effect by an order of the Secretsry of State on 9 April 2006. The scheTne altereLI the exisling administration of Ihe charity under which il was gov&rned by regulations updated on 17 March 1950. Under the 2006 Scheme. 8 nominated truslee must be apw)inted by the President of the Royal College of Psychiatrists and five co-opted trustees musl be appointed al a meeting of the tmstees. The appointment of the nominated Iruslee is for a period of four years aTh5 the apltent Co-opted trustees is fora period of five years. The Iwstees manage the day lo day operations of the ¢J)arity. The charity (knes nol employ any staff dirèctly bul does utilise the services of {il a Secretary & adminislrator emFdoyed by Beyond Profit Lld and. {iil, a grounds maintenance manager. All trustees give of their lime freety and no trustee remuneralion or expenses were paid in the year. The trustees met six times during the yea¥. The trustees who served duriro the year and up to the date of signature of the finanaal statements were= Mr P M Stafford Mrs D M Colquhoun Mr H J J Rylands Mrs A Falk Dr D Hyland Mr S Dein IAppoir)ted until the 2025 AGM) IAppy)inled unbl 03 Jul 20291 IAppoinled 9 July 20291 (Appointed until 01 July 20261 IAppoinled until the 2025 AGMI {Appoinled unbl 04 July 20271 Biographies ol trustees are Set oul below= Peter Stafford - Chalrman Prior to being appointed as a trustee. Peler h8d pviOUSlY served as a tnjslee of RathbO Training for 9 years. He is a chartered accountant retiring as a partner and parthership board MeMr of Deloitte. Dlana Colquhoun Diana is a lawyer specalising in commercial piopety Iransactions. She was a partner al Addleshaws in Manchester for many years and a consultsnl al Land Law LLP. Before joining the Iruslees at CRH she was a governor at Withington Girts School, and later a truslee at the David Lewis Centre, a5 well as hawng interesls in a nmber of businesswomen's groups. John Rylands Prior to being appointed 8$ 8 trustee. John had served as Irusteo and lead treasurtrr al Together Trust and as a trustee al Manchester Outward Bound Association. Following a selfmploye(I career in corporate finance, John presently pursues a number of avic and private c(Knmer(yal interests. Amanda Falk Prior lo retiring in August 2020, Arnanda was a soliutor advising on trusts. tax and estates {using her rnai(len name. Freernanl. This included 10 years a5 head ol the privale client department of Myerson Soli¢itors LLP. She also Sgrved as a director of Trafford ShoprwM)bility for 10 years. She now erbjoys a number of hobbies. Dèclan Hyland Declan is Ihe nominated Iruslee apwinted by the President of the Royal College of Psychialrisls. Oeclan is a Consultant in general adult p5y¢hiatry working in the North West region. He ha5 been a Consultant since August 2016. His currenl Iruslee roie with the CRH Chariiable Trust is hi5 first role as a trustee and one he is really enjoying. Stephen Devlin Stephen is a retired corporale18wyer (having specialised in capital market transaction51 and now sits as a Depuly Districl Judge (Civill on the Northern Circuil. He has recently retired as Chair of Trvslees of the David Lewis Centre having been a trustee there for 9 years.
CRH Charitable Trust Trustees. Report {CONTINUED) For the year ended 31 March 2025 Risk management 11 is the policy of the CRH Charitable Trust lo identify aThJ proaclively manage rt5ks. The charity will in general be risk neutra1 in ils decision making. bul may accept higher risks where Ihwr impact is within the charity's stsled risk appetite and where there are clear strategies in place lo miligate and monilor the risk being faced. The fcAlowing key principles outline the charity's approach to risk m8n8gement and intemal control.. The board of trustees has responsibility for ovefseeing risk management within the charity 8$ a whole. An open and receptive approach to so5ving risk problems is adopted by th& bDard of Irusle8S. The Secretary supports. advises and 1mlements policies approved by Ihe board of trustees. The charity makes conservative and prudent rec(vJnition and disdosure of the financial and non-financial implications of risks. Key risk indicators will be identified arKI monitored on a regular basi8 as refined in Ihe risk management timeiable. Induction and training of trustees An induction pack is made availate lo new truslees which includes a copy of the goveming document, a summary of the ¢harity's objectives. a copy of the Charity CommissM)n's guide on the duties of a Irustee and the mosl recent finanual statements. Auditors The charity appointed as aLvJitors duriThJ the year DJH Audit Limited. previously known as DJH Mitten Clarke Audit Limited. Th rustees. roport was approved by the Board of Trustees. Mr P M Slafford Trust Date.. irf fJ IXI-
CRH Charitable Trust statement of Trustees. reponsibilities For the year ended 31 March 2025 The Iruslees are responsible for preparlng the Trustees. Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards Iuniled lfjngdom Generally Accepted Ac¢ounting Practice). The law applicable to ch8rities in England and Wales requires the trustee5 to prepare financial statements for each finanaal year which give a true and fair view of the state of affairs of the L*arity and of the incoming resources and application ol resources of the charity for that year. In preparing these financial statements. the Iruslees are required to= select suitable accounting policies and then aprAy them con51slenty: obsefve the methods and prinuples in Ihe Charitses SORP; make Judgements and estimates thal are reasonalAe and pnjdent.. stat& whether applicable accounting standards have been folkmed. subject to any matefial departures disclosed and explained in the financial slalements.. and prepare the financial statements th8 g(Mng concem basis unless il is inappropriato to presum& that the charity wll continue in operation. The trustees are responsible for keeping sufficient accounting records that disdose wlh reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial slatemenls comply with the Charities Act 2011. the Charity IAccounts and Reports) Regulations 2008 ané the provisions of the trust deed. They are also responsible for safeguarding Ihe assets of Ihe charity and hce for taking teasonable steps for the prevention and d8toction of fraud and olher irregularities.
CRH CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CRH CHARITABLE TRUST Oplnlon We have audited the financial stalements of CRH Charitsble Trust {Ihe 'chariWI fly the year ended 31 March 2025 which cornpri5e the stslement of financial aclivilies, the balance sheet and notes lo the financial statements, including significant accoijnling policies. The financi81 pOrting framewoTk that h8$ been applied in their preparation is applicable law and United King(k)m Accounbng Standards. including Finan(ial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol lTrland Iunited Kingdom Generally ACpted Accounting Practice). In our opinion, the financial statements= give a true and fair view of the slal8 of th8 charity's affair5 as at 31 March 2025 and of ils incoining resources and application of resources. for the year then ended.. have been propedy prepared in accordance with Uniied Kingdom Gerwalty Ampted Accounting Practice. and havo begn prepared in accordance with Ihe ChariliesAct 2011. Basi5 for opinion We conducted our audit in accordan with Intemational Slandards on Audibng IUKI (ISAS IUKII and applicable law. Our responsibilities under those slandards are lurther described in the AuditoRs SpOnsIbl11t1eS for Ihe audit ol the financial slat8m8nls section of our report. We are independent of the charity in accordance with the elhie31 requirements that are relevant lo our audit of the financial statements in the UK. induding the FRC'S Ethic81 Standard. and we have fulfilled our other ethical responsibilities ir) acc¢Ndanc$ with these requirements. We believe that the audil evidence we have obtained is sufficient and appropriate to Kxovi¢Je a basis for our opinion. Con¢luslons relating to golng conc•rn In auditing the financial stalemenls, we have o)ncluded that the Trusiees. use of Ihe going corlcern basis of accounting In the preparation of the financial slalements is appropriate. 88sed on the work we have perfomièd. we have not identified any material unrtainli&S relating to events or conditions thal, individu8lly or collectively. may cast sign5fi¢ant doubl on Ihe charl$ ability to continue as a going concern for a period of at least hvelve months from when the financial statements are authorised for issue. Our responsibilities and the resrx)nsibilities of the trustees with re5t lo going concem are described in thg relevant sections of this report. Other Information The other information comprises the information induded in the annual report other than the financial slelements and our auditor's report thereon. The Iruslees are $[M)nSIble for the other infomialion contained within the annual report. Our opinion on the financial stalefftents dS not cover the other infrmiation and we do not express any form of assurance conclusion thereon. Our responsibility is lo rea¢J the other information and, in doing so, Consider whether the other information is wnalerially inconsistent with the financial slatements or our know18dge obtained in the course of the audit, or olheMise appears lo be materially misstaled. If we identify such material inconsistencies or apparent material mi5Stalemenis, we are qUired lo delemiine whether this gives rise to a material missialemenl in the financial statements themselves. If, based on the work we have perforrne(l. we conclude that thwe is a material misstaternenl ol this other infom)ation, we are require(I to report that fact. We have nolhing to port in this regard.
CRH CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CRH CHARITABLE TRUST Matters on which we are requlrad to report by ex¢optlon We have nothing to report in respect of Ihe IlOng maliers in relation lo which the Charities {Accounts and Reports) Regulations 2008 require5 US to rewrt to you if. in cmjr opinion.. the information given in the finan¢ial statements is In)nsiStent in any malerial respect the Trustees, report.. or sufficient accounting records have not been kepL OT lh8 financial slalemen15 arg nol in agreement with the accounting (Jrd$', OT we have not received all the information and explanations we require for our audit. Responslbllltles of trustses As explained more fully in the statement of Trustees. resw)nsibililies. the tru51ees are responsible for the preparatim of the financial statements and for being satisfied that they give a true and fair vsew, and foT such internal control as the twstees determine is neSSary lo enable the preparation of financial stalements that are free from material misstalement. whether due to fraud or error. In preparing the ffinan¢ial statements, the trustees are responsible for assessing the charity's ability lo continue as a going nCeM. disdosing. as applicable, matters related to going concem and using the going conr basis of aCUting unless the Injstees either intènd to ceas operalions, or have no realistic allemabve bul to do so. Audltorfs responslbllltl8s for the audlt of tho Ilnancial statements We have been appointed 8$ auditor under section 145 of the Charilies Acl 2011 and rewrt in accordance with the Act and relevant regulations made or having effect thereunder. Our objecbves are lo obtain 3$Onable assurance about whelher Ihe financial stalefnents as a whole are free from material misslatemenl, whelher due to fraud or error. and lo issue an audilorfs report thal includes our opinion. Reasonable assurance is a high level of 8ssurance but is rtot a guarantee that an audil conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists. Mi5ststements can arise from fraud OT error and are considered material rf, irKlivi(lually or in the aggregate, they could asonablY be expected to influence the economic decisions of users taken on the basis of these finaw81 statements. Irregularities, including fraud. are Instar$S of non-comlance with laws and rtrgulations. We design PTo¢edures in line ¥Mth our responsibilities. oudined above. to detect material wviis518lemenls in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities. including fraud, is detsiled below. Our approach lo identifying and assessing the risks of material misstalernenl in respecl of irregularities, Including fr8ud and non-compliance wilh laws and regulations. was as follows= Ihe engagement partner ensured Ihal the engagement tearn collectlvely had the appropriate competence, capabilitie5 and skills to identify or recognise nonwpliance with apFdicable laws and regulations., we identified thè laws and regulations applicable lo the charity through discussions with the trustees, and from our previous knowledge 8nd experience of the charty; we assessed Ihe extent of compliance with the laws ar regulations idenljfied through making ènouiries of management and inspecting any available legal corresw)dence- and we focused on specific laws and regulation which we consider may have a direct material effect on thfj financial Stalemenls, indudÉng legislation 5u¢h 8$ the Charity Act 2011 and the SlatetTrent ol recommended pra¢li¢e applicable lo Charities preparing their accounts in a¢¢oidance with Financial Reporting Standards 8ppli¢able to the United KIn10M and Republic of Ireland IFRS 102). We assessed the susceptibility of the charities finanual statements lo material misststem8nt. induding obtsining an unéerstandin9 01 how fraud mtghl occur, by= making enquiries of Trustees as lo where they considered there was susceptibility to fraud, their knowledge ol actual. suspected and alleged fraud.. and considering the Inlemal controls in pla to mibgate risks of fraud tn-Compliance wilh laws and regulations.
CRH CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CRH CHARITABLE TRUST To a(1$$ the risk ol fraud through management bias and override of controls, we.. performed analytical prcKedures to i(Jenlify any unusual or unexpected relationships.. tested journal entries lo i¢Jenlrfy unusual transactions., assessed whether judgements and assumptions ma(le in detemiining a(xx)unling estsm8tes were indkcative of potential bias., investigaled the rationale behind significant or unusual transaclion5- and rfomied walkthrough lests on major Iransaction cy¢les. In response to the fisk of irregularities arKI non-compliance with laws and regu18tiu)s, we designed procedures which included. bul were not limited to.. enquiry of those Charged with govemance around aclual and w)tential litigation and daims. enquiry of Iru51ees lo identify any instances of n¢M-compliance th laws and iegulations. agreeing Financial Stalement dlsd0suS to underlying supporting documents. reviewing leg81 and professional fees incuired during Ihe year lo identify any polential indications of non- cornpliaftce with laws and regulati$. review of board meeting rninules Despite appropriate planning and performing our work in accordan with International Audiling Standards, there are ahvays inherent limitalions that non-compliance is not delecled. Non compliance with laws and regulations is often further removed from the events and transactions reflected in the financial slalemenls and material misslalernents due to fraud can be deliberately concealed from audi1cs. for exafflple through misroprosenlalion, forgery or ¢ollusion. M8terial misstatements that arise due lo fraud can be harder to detect Ihan those that arise from error as they may involve deliberate concealment or collusion. A furth8r d&scriplion of our reswnsibilities is availle on the Financial Reporting Council's wèbsite at". http5'.11 ww.Irc.org.uklaudilorsresponsibilities. This dv6cripbon fomis part of our audilorfs report. usa of our ieport This report is mado solely lo the charity's trustees. as a try, in accordan with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the ch81ity's Iruslees those mallers we are required lo slate to them in an auditor's report and lor olheT purpose. To the lullesl exlenl permitted by law, we do not accept or assume resw)nsibility to anyone other than the charity and the charity's trustees as a body. for our au¢Jil work, for this report. or lor the opinions we have fomied. Joanne B¢amlsh ACA FCCA {Seni¢r Statutory Auditor) for and on behalf of DJH Audlt Llmited Awl,L OLIO? Izols Accountants Slatulory Auditor idgo House Ashley Road Hale Alth'ncham WA14 2UT DJH Audit Limited is eligible for app(Mntment as audilor of the charity by ¥ie of its eligibility for appointment as auditor ol a company under section 1212 of the Companies Act 2006.
CRH Charitable Trust Statement of financial activities For the year ended 31 March 2025 Unrestricted Endowrnent fund5 funds 2025 2025 Total Unrgstrlcted Endowment funds fund5 2024 2024 Total 2025 2024 Notes Incoma from Investmenis Olhei income 358.323 13.329 5.040 8.198 363.363 21,527 304.813 9.145 4,911 3.180 309,724 12,325 Total income 371.652 13.238 384.890 313.958 8.091 322,049 Expgnditurn on: Charitab18 aclivilies Grants payable Support and goveman Lggal and professional 343,070 343.070 227.149 227.149 31,014 36,053 31.014 36.053 33.184 5.456 33.184 5,456 Total expenditure 410,137 410.137 265.789 265,789 Net income & expenditure before gainslllossesl on inveslmenls 138.485) 13.238 {25.2471 48.169 8.091 56,260 Net gainslllossesl on investments 10 {36.049) 1193.803) (229.8521 146.024 4.573.573 4.719,597 Not mov¢mont in funds {74.534) 1180.565) 1255.0991 194.193 4.581,664 4,775.857 Roeonciliatlon of funds: Fund balances al 1 April 2024 2.010,601 11.806.938 13,817.539 1.816.408 7.225.274 9.041,682 Fund balanus at 31 March 2025 1.936.067 11.626.373 13,562,440 2,010.601 11.806.938 13.817,539 The statement of financial activities includes all gains and k)sses recrM3nisgd in the year. All income and expènditure derive from continuing acb'viiies. The rKJles on pages 12 to 21 fotm part of these financial swemenls. 10-
CRH Charitable Trust Balance Sheet As at 31 March 2025 2025 2024 Notes Flxgd assèts Tangible assets Investments 12 13 Z21.859 13.065,561 221,859 13.280,865 13.287.420 13,502.724 Current assets Debtors Cash al bank 14 38,750 275.249 11.584 321.075 313.999 332,659 Creditors: amounts falling due within one year 15 {38.979) 117,844) Net current assets 275,020 314.815 Total assetsloss current liabilitles 13.562,440 13,817,539 Endowment funds General endowment fund Permanent endowment fund Revaluation reserve 16 11.274.695 189.930 161.748 11.458,862 186.328 161.748 11.626.373 11.806.938 Incomg fund$ Unrestricted accumulated income fund 1.936.067 2,010,601 Total funds 13,562.440 13,817.539 The notes on pages 12 to 21 form part of these financial statements. The financial statements were approved by the twstees on ..... Mr J J Rylands Trust0& 11
CRH Charitable Trust Notes to the financial statements For the year ended 31 March 2025 A¢¢ountlng poll¢l•s Charity information CRH Charitable Trusl is a registered charity. 1.1 Accounting convention The financi81 $tstÈments hav6 been prepared in accordance wth ihe charity's governing slalude, the Charities Act 2011, FRS 102 'The Financial Reporting Slandard applicable in the UK and Republic of Iland, I'FRS 1 D21 and the Charities SORP "Acc(yJnting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accour)ts in accordarKe wilh the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102)- (effective 1 January 20191. The ¢harity is a Public Benefit Ents'ty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for thariti&s not to prepare a Statement of Cash Flows. The finan¢i81 slalements are prepared in stèding. which is the functional currency of the charity. Monetary amounts in these financial slatements are rounded to Ihe rearesl £. The financial stslements have been prepa under the historical cost convention. and the principal accounting poliaes adopted are sèt out below. 1.2 Going concern At the lime of approving the financial stalements. the truslees have a reanable expectation that the charity has adequale resources to continue in operational existence for the foreseeable ftjlure. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial stslem$nts. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtheran of their charitable obje¢tlV6S. En¢*iwmenl funds are subject 10 5pecffic wndilions detailed in the thaiitys eMing d¢xument. 1.4 Income Overall, income is wognised when the charity is legalty entitled to it after any performance conditions have been mel, the amounts can be measured reliably. and it is probable that income will be received. Income from investments is recognised when receivable in cash lerms from the investment portfolios. 1.5 Exp8ndltura Expenditure 15 recognised once there is a legal or Conslrudive oblKJation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in SeeMent, and the anK)unt of the obligation can be measured reliably. 1.6 Tan9lbl¥ fixgd assets Tangible fixed assets are initially measured at cost and subsequenly me8sured 8t cosl or valuation. nel of depreciation and any impairment losses. The only assets held by the charity in the year relate lo freehold larhd which is nol deplated. The gain or loss arising on the disposal of an asset is detemiined as Ihe difference between the sale prOedS and the ¢arrying value of the asset. and is recognised in the statement of financial aclivilies. Mixed use property is dassified as property. plant and equipment and rneasured using the cost model whe the lair value of the investment component cannot be measured reliably. 12-
CRH Charitable Trust Notes lo the financial statements (CONTINUED) For the year ended 31 March 2025 A¢¢ountlng poll¢l8s Icontlnuedl 1.7 Fixed asset Investments Fixed asset investments are initially meaSUd at transaction price excludiThJ transaclion costs, and are subsequenlly measured al fair value at each rerx)rting date. Changes in fair value are recognised in nel incomellexpenditurel for the year. Transaction costs are expensed as inujrred. 1.8 Impalmient of fixed assets At each reporl'ng end dale. the charity reviews the carrying amwnts ol its tangible asseis to detemiine whether there is any indication that those assets have suffered an impaimienl loss. If any such indication exists, the recoverable amounl of the asset is estimated in order to detemiine ihe extent of the impairment loss lif 8nyl. 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand. derM)sits held at call wth banks. other short-tem liquid investrnenls with original malurlties of thres months of less. and bank overdrafts. Bank overdrafts are shown within borrow1S in current liabilities. 1.10 Financial Instrumonts The charity has elected to apply the provisions ol SeclM)n 11 'Basic Financial Instruments. and Section 12 'Olher Financial Inslrumenls Issues. of FRS 102 to all of its financial instmmenls. Financial inslruments are rtscognised in Ihe charilys balance sheet when the charity becomes party to th6 contractual provisions of the instrument. Financial 85seis and liabilities are offset, with the net amounts presented in the financial stalemenls. when the is a legally enforceable right to set off the recognised amounts and Ihere is an intention to settle on a nel basi5 ty to realise the asset and settlg the liabilily simultane(wJsly. Basic finaD¢ial assets Basic financial assets. which include debtors arHJ cash and bank ba18re$, are initially measured al Iransa¢lion price including transaction cosls and are subsequently Caled al amortised cost using the effective interest method unless the arrangement constitutes a financing transa¢lion, where the Iransa¢lion is measured al the present v81ue of the future receipts disc4)unted at a market rale of interest. Financial assets classified as receivable wthin one year are not amorb"sed. Bas1¢ flnancial liabilities Basic financial li8bililies. induding creditors and bank toans are initially roonised al Irans8dion price unless the arrangement constilutes a financing transaction. where the debt instrumenl is measLFred at the present value ol the futurg payments discounted at a markèt rate of intest. Financial liabilities ¢lassified as payable within one year are not amortised. Trade creditors are obligalions lo pay for g(K)ds or services that have been acquired in the ordinary course of operations from suppliers. Amounts payaNe are Classifted as current liabilities if payment is due within one year or less. If nol. they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at arrnrti5 c05t usirrfJ the effective interest method. Derecognition of financial Ilabilities Financial liabilities are derecognised when the tharily's contractual obligalions expire or are discharged or cancelled. 13-
CRH Charitable Trust Notes lo the financial statements (CONTINUED) For the year ended 31 March 2025 Crltlcal accountlng estlmates and judgements In the application of the charity's accounting polirjes, the tru51ees are required lo make judgements, eslifllales and assumptions aboul the carrying amount of a55ets and liabilities that are not readily apparent ffom other sourc8s. The estimates and associated assumplioiis are based on historical experience and other f8clors that are Considered to be relevant. Actual results may differ Irom these estimates. The estimates and undertying assumpb'ons are reviewed on an onwing basis. Revision5 to a¢¢ounling estimates are recognised in the peri£ in which ihe estimate is revised where the revision affe¢ls only that period. or in the peri¢xl of the revision and fulure peri(Mls where the revision alfgcts both current and futu periods. Classlflcation and measurement of mlx•d-uu propgrty The charity owns land that is held partly for operalional use and partly to eam profit from its development. Under FRS 102, where a land is held for both inveslmenl and operab.onal purposes. il is rrMallY required to be split beeen investmenl property and property. plant and equipment, with the investment portion measured at fair value and the operational tN)rtion al c05t less depreciation and impairment. Management has delemiined that the fair valu8 of the investment component of Ihg land cannot be measLJred reliably. In line with FRS 102, the entity is pem)iited to measure the land al cost less depreciation and impairment. As a result, the18nd has been dassified as freehold laThJ and buildings and is being measured using the cost model. M8nagemgnl wll VieW this assessment each porting period to determine whether the fair value ol the investment comtM)nent trComeS reliably measurable. See note 12 for further details. Income trom Investmènts Unrestri¢ted Endowm¥nt funds funds 2025 2025 Total Unrèstrl¢ted Endowm•nt funds funds 2024 2024 Total 2025 2024 Income from managed funds 358.323 5,040 363.363 304.813 4,911 309,724 Other Income Unrostrlcted Endowment funds funds 2025 2025 Totsl Unrestrlcted Endowment funds funds 2024 2024 Total 2025 2024 Management fee rebate lThlerest ieceived Other incorne 1,279 11.950 100 8.113 85 9.392 12.035 614 8.531 3.143 37 3.757 8.568 13.329 8.198 21,527 9.145 3.180 12.325 The fund managers charged fees wthin Ihe funds tolallir¥J £127,401 in the year12024.. £72.2721. Periodically, the IveStment managers may rebate a tx)rtion of their fee. This ale is disck)sed as above. 14-
CRH Charitable Trust Notes to the financial statements (CONTINUED) For the year ended 31 March 2025 Grants payablo 2025 2024 Grants to institutlOn5'. Carilas Di0Se of Sallord Bla¢kpool FC ComFnunity Trust Birchall Tnjsl Counselling & Family Centre Cad*sl& Eden Mind Beacon Counselling Bolton Adult Autism Sup1 Henshaws LGBT Foundation Howgill Manchester CareTS Open Door Opportunity Sw)rts Warrington Youth Zono A-Z Communit$ Indusive Growing Well - Tebay Lancashire Mind Neuro Therapy Centre Seashell Trust (RS for Deafj West End Impact Ashton United in the Communty Kings Community Ashton United in Ihe Community Wallhew House Bipolar UK Back on Track Uphill Ski Club Arts for Recovery in the Community (ARCI Freedoni from Torture Jusllife Ride2Sucess SEN Families SuF)POrt Group South Manchester Down Syndrome Support Grp SPARC Wave Forward BlackbuTn Rovers Community Trust Shaftesbury Youth Club Bolton Wanderer5 in the Community Together Trust Just Drop In Youth Starling WAVE Adventure Cheshire Young Carers Jam8s's Place Charity Rossendale Trust BIRD Leigh Community Trust 38,500 19,949 18,200 15,000 14,660 14,400 13.000 11,142 11.000 10.000 10.000 10.000 10,000 7.621 7.500 7,500 7,500 7,500 7.500 7.500 7,253 6.500 6,000 6,000 5.640 5,355 5,100 5.OCIJ 5,0 5,000 5.000 5,000 5,000 5.000 5,1)00 4,710 4,290 3.750 6.365 10,000 10,10 7.$00 6.500 5,365 5.000 5.000 10,000 3.393 7,500 10,431 10.000 10,000 10,000 10.000 10,000 10,000 7,500 6,440 15-
CRH Charitable Trust Notes to the financial slatements (CONTINUED) For the year ended 31 March 2025 Grants payabl• Icontlnuedl Panathlon Disability Snowsp(Ki UK Manna House Olympias Music Fojndati rime Out Group Northwest SMILE GROUP Autism Indu51VO Sallord Refugee Link Isarelil Greater Manchester Community Chaplain¢y Woodwork To Wellness Reubens Rèfvat MedEquip4Kids Anthony Seddon Fund Dernenlia Togelher Wirral The Hope Centre River ol Life 6.000 5.200 5,000 5.000 5.000 5,000 5,000 5,000 4,500 4,200 3,750 3,000 3,000 3.000 1.955 1.550 343,070 227.149 Commitments As at 31 Mar¢h 2025, grants Committed lo be paid in future peri(Kls. subject to certain grantee perfomance conditions, amounted to £444.78212024.. £136.303). Support costs Support Govemance costs costs 2025 Support Governance costs costs 2024 Inswan Audit Accountancy Secretarial fees Storage Grolsnds maintenance costs 3,414 3.414 6,000 1.2(M) 12.414 31 2.185 2,185 6,000 1,140 12,151 6.000 1.200 9.311 1,140 9.113 3.103 31 3,038 7.955 7.955 11,624 11,624 21.880 9.134 31.014 24.062 9,122 33.184 Insuran. Audit. Accountancy, Storage and Grounds maintenance are wilhin Ihe Direct basis of allocation. Secretarial fees and Bank charges are within the Usage basis of allocats"on. Govemance costs includes p8yments lo Ihe audiloTS of £6.(N)0 (2024.. £6.000) for audil lees. 16-
CRH Charitable Trust Notes to the financial statements (CONTINUED) For the year ended 31 March 2025 Trustees None of the trustees (or any persons connected wilh them) received any remuneration or benefits from the charity during the year. No expenses were reimbursed lo trustees in the year12024- none). Employees The were no employees or employee remuneration during Ihe year12024'. None). Legal and prole$$ional fees Unrestrlcted Unrestrlctèd fund5 funds 2025 2024 Legal and professional lees 36.053 5.456 Where legal and professional fees relate to a sale tr8nsa¢tion completed In the peritxl. the expenditure is netted off against the corresponding income. as detailed in note 12. Where there is no completed transaction. legal and professional fees are expensed againsl unrestricted income. 10 Net gainslllo55esl on Investments Unrestricted accufflulated Endowment in¢om• fund funds Unr¥stri¢tsd Total accumulated Endowment income fund funds Total 2025 2025 2025 2024 2024 2024 Gainlllossl on investments Gain on sale of investment prorties 136,0491 (193.803) (229.8521 146.024 877,037 1.023.061 3.696.536 3,696.536 136.0491 {193.803) {229,8521 146,024 4,573,573 4,719,597 11 Taxatlon The charity is exempt from tax on income and gains falling wthin section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to Ihe extent that these ale applied to its charitable objeds. 17-
CRH Charitable Trust Notes to the financial statements {CONTINUED) For the year ended 31 March 2025 12 Tanglble flxed assets Freehold land Cost or valuation At 31 March 2025 221,859 At 31 March 2024 221,859 Freehold land amounting to £221.85912024= £221.859) has not been impaired. The charity's ownership of freehold land derives from the land's use in the 0ra110n of Cheadle Royal H05Pltal prior to 1993. The carrying amounl was d&t8miined in 1993 following a rgmeasuremenl and was treated as deemed cost in accordance with the transibonal provisions for FRS 102. Part of the land is subject lo the 1996 Development Agreement with the Charity's developmenl partner which Crealed Cheadle Royal Business Park for office use. The charity has been independently advised there is no current demand for offices in the location. As a result. wtthin the lerrns of the present Developmenl Agreement and without allernalive use planning consenis. trustees are unable to ascrtbe any meaningful value to the undeveloped land on thè Cheadle Royal Business Park. During ihe year, the charity entered into negotiatirms for the possible disposal of part of this land for an altemative use. Thase negotiations are ongoing but any di5wJsal would b8 subjecl to planning ¢onsènl for change of use and lo the acouisition by a third party of a leasek interest in part of the land. The gros$ payment to the charity coukl exceed £3m but Ihis would be subject to the deduction of c051s which cannot be accurately estimated at present. Separately, negolialions a at an e8dy stage for the disposal of further parcels of land subject lo planning consent. It is not possible to eslifflate what the gross payment to the charity or ils associated c051s might be. Outsid8 of the Cheadlg Royal Business Park. the charity owns a plot of land, part of which is subject lo operational use by The Priory Hospil81. in line with the charities objectives. The charity has been advised there is little prospecl of a¢hieMn9 planning pemiission for uses which w(MJld allow for a meaningful development ol the land. As 8 result. the tnistees ccffilinu& to hold th8 mixed use PrOrtY at deemed cost as per FRS 102 requirements, due to inability to measure reliably, the fair v81ue of the investrnent propety component ol the land. 18-
CRH Charitable Trust Notes to the financial statements (CONTINUED) For the year ended 31 March 2025 13 Flxed asset Investmgnts M#nag•d Cllent cash In funds portf¢llo Total Cost or valuation At 1 Apnl 2024 Additions Valuation ch8nuesl cash movemenl 13.277.640 17.683 {229.852) 3.225 13,280.865 17,683 {232.987) 13.1351 At 31 March 2025 13.065,471 90 13.065,561 Carying amount At 31 March 2025 13.065,471 90 13.065,561 At 31 March 2024 13.277,640 3.225 13,280,865 14 Dobtors 2025 2024 Amounts falling duo wlthin on• yoar: Ac¢rued income Prepayments and accrued reimbursements 747 38.003 870 10,714 38,75D 11,584 15 Crodltors: amounts falllng due wlthln one year 2025 2024 Accruals 38.979 17,844 19-
CRH Charitable Trust Notes to the financial statements (CONTINUED) For the year ended 31 March 2025 16 Endowment funds At l Aprll 2024 Incoming resour¢¢$ Gains and At 31 March losses 2025 Endowm8nt funds General endowment fund Permanent endowment fund Revaluation reserve 11.458.862 186.328 161.748 7.870 1192,0371 11.274.695 {1.7661 189,930 161,748 11.806.938 13,238 1193.803} 11.626.373 Prevlous year- At 1 April 2023 Incomlng Revaluatlons At 31 Mar¢h sources gain5 and 2024 10s$¢s Endowment funds General endowment fund Permanent end¢)wm&nt fund Revaluation reserve 6.899.162 164.364 161.748 3.030 5.061 4.556.670 16.3 11.458,862 186,328 161.748 7.225,274 8.091 4.573,573 11.806.938 The Pemianent endowrnenl fund includes an amount set aside at the directi ofthe Charity Commissioners in order lo r0Up £1.239.371 previously paid to dear the charity's debt5. The Commissioners directed Ihe Iruslees lo purchase investments with an original value of £51.000. cvrrenl value of £189.93012024'. £183,32818nd to accumulate income and capital appreciation thereon until the sum spenl of £1.239.371 has been recouped. When the full sum has been recouped Ihe funds will reinain as part of the permanent endowment of Ihe charity. 17 Unrestricted funds Thè following are general funds which are available to be spent for any ofthe charity'5 purposes. At 1 April 2024 Incoming r•sources Resourcès ndèd Gains and At 31 March losses 2025 General fund 2,010.601 371.652 1410.137) 136,0491 1,936,067 At 1 Aprfl 2023 In¢omlng re50urc Resources expended Galns and At 31 March losses 2024 General fund 1.816.408 313.958 {265.789) 146.024 2.010,601
CRH Charitable Trust Notes to the financial statements (CONTINUED) For the year ended 31 March 2025 18 Analysls of net assets b•tween funds Unrnstricted Endowment funds funds 2025 2025 Totsl Unrostricted Endowment funds funds 2024 2024 Total 2025 2024 Assets held by funds: Tangible assets Inveslrnenls Debtors Creditors Cash at bank 221.859 1.665.757 11,399.804 38.750 138.9791 270.539 221.859 13.065.561 38.750 138,9791 275,249 221,B59 11.417.416 221,859 13,280,865 11.584 117,8441 321,075 1,863.449 11.584 {15.593) 151.161 12.2511 169.914 4.710 1,936,067 11.626.373 13.562.440 2,010.601 11,806.938 13,817.539 19 Relot&d party transactions There re no dis¢losatAe related party transactions during the year12024 - none). 21