Charmy r•glstratk+n numbgr 214322 HOMELANDS CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
HOMELANDS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION S•ttlor# H.F. Curry Idoc'd.} Miss Elizabeth Cury Idac'd.I Mlss Fred8 Curry I¢,.) Rev. Clrfford Curry (dec'dl Rev. cirfford Cury. BSC. {Hons.I N J Armstrong. FCA RJCurry E Maguire -oppolnted by t1egd 19th June 1990 - appointgd by deed 23rd Sep 1994 - appointed by deed 6th Aprll 2006 - 8ppoH)ted by de$d 16th Feb 2018 Charlty numb•r 214322 Prln¢lpal addre•¥ Manfield House 1 Southampton Street London WC2R OLR Audltor Bennewtth 2018 Lld Ynoi Hous0 3 Wey C¢)urt Mary Road Guildford Surrey GU14QU A¢¢ountant8 and Admlnlstrators Alliolts LLP ManfiÈld House 1 Southampton Strèèt London WC2R OLR Bankers Bank of Scolland 600 Gorgie Road Edinburgh EH11 3XP InStMent advtsofs Investec Wealth and Investment Lwnited 30 Grèsham Slroot London EC2V 7QN
HOMELANDS CHARITABLE TRUST CONTENTS Page Tru$leos' report Independent audfrtorfs report Statement of financial actNitie3 Balancè sheet 10 Notos to the accounts
HOMELANDS CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2023 Th$ trustees presènt their report arKI accounts for the year ended 5Apnl 2023. The Homelands Charitabb Trust was ¢wat8d by deed dated 1slApril 1962 by'.- Mr Henry Fr8derick Cury (Dee'd.) Miss Elvzaboth Curry (Dec'd. Miss Freda Curry IDe¢'d.I Rev. Clrftord Curry IDec'd.I Further fvnds wèrè s8tUed by Mr Edward Curry in 1993 and from th& Estat¢$ of Miss 1Zabeth Cury In 1998 and Mlss Freda Curry In 20, 2001 and 2¢X)2. It was registered with th8 Charity Commlsslon Ireglstralion No. 2143221 on 2nh December 1962 as a charity whose main objective was Ihe general supwl of Charitab Insfjtudons. with 8ped81 ragard towards the General Conferen¢e oflhe New Church. Tho financial slaiements have been prepared in atran wllh the 8¢¢0unling poliags s¢1 out In note 1 to th? financial statements and comply with the charivs govtrming document, Ihg Charities Act 2011 and 'Accounting 8nd Reporting by Charities= Stalernent ol Recommended Practi applicable lo charities preparing their account in occordance with the Financial Reportin9 Standard applieabt8 in the UK and Republic of Ireland IFRS 1021. la5 amended for accountin9 period5 comfflon¢lng from 1 January 2016}. Objgcti¥•s •nd adivltl•8 Th• oblectives of thg charity this y88r have again been to support a range of genèral charitable c8U$èS. together th spècial emphasis towards contributions to tho General Conference of thg Church. Mèdical Research, Care 8nd Protection of Chikjren and Hospices. This is 8chievod by way of a variety ol donations to ¢hoties. which vary from y6ar to year. such don8ti0ns trjoing dislribulgd by the accounlants. The tnjstees have adopted where gppropri818 andlor praclubb the Hallmarks of an Effèetivè Charity i83Lwd by the Ch8rity CorTMnlssion ICC601. The inveslmont portlolio Is managèd to mainlaln capital and income in roal terms to pro0 for donation8 to registered tharitias. As donations ar8 made only to règlstered charitie$ it Is considered that the rècipients have primary responsibillty for impa¢t and outcomes. HOWer, all reciplenl d)aribe$ are reviewèd at 18asl annually and vlsits mad8 whère posslble lo ensurg POt8nlial is m8xlmis8d. The original charTty trustees were apKx)inted by trust deed dat 1st April 1982. There is al present one professional trustee adminislralion and accounting Nbee$ outsourced. Reverend Cllfford Curry was appoint8d on 19th JUM 1990. NJ Armstrong, F.C.A. was appointèd on 23rd Sèptember 1994, R J Cury was appoted on 6 Aprll 2006 and E Maguirt was appointed on 16 Fèbruary 2018. The clerical trustee also advises on ecclesiasfjcol and Sla1 malt8rs thus providin9 both sound govemance and flexibility. The Iruste&s consldeT that thg present stwcturs and policies enabkn It to achieve its aims In an effic5enl m8nngr which is transparent and understandable. Tho tru$tees have pald due regatd lo guidancg Issued by the Charfty Commissbn in d8CMling what ?¢ts"vities the charity should und8rtake. FJnanGlal reviow The charitys Incoming re8our¢8s duriThJ the yo8r wgre £218.62012022.. £169.161}. After m8klng d¢)nattDn8 of £338,000 12022.. £372,000). tho totsl gxpenditure amounted to £405,175 12022.. £439,899). Including loss on invosknent assets of £630,901 12022.. gain £497.424}. th$ net movement In fvnds for the year shows an decrèasè of £817,456 f2022: intase £226.6861. Total funds al tho yaar end amountsd to £8.767,51012022'. £9,584,966). The trustees are o)nfkJent that Ihg finon¢ial base ol the charity Is suffiriertt to provide a firm fwnd8Uon for fLAur activlt*s.
HOMELANDS CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Tha charity uts'lises its funds lo awafd grants to other charitable organi$8b"ons. The knvel of resour¢tss held has bean such BS to enablg lutyre grant awards to b¥ m•1 and to enable sufficignt iM)me and capital growth to be generated so that re5erve8 would not be depletèd by any future grants awariJe(l in 8xc8ss of income generatsd. Inv•stm•nt Pollcy The charity hold5 Investments wilh a market value of £8.6 million. Th& obleotives are lo achievè a balanced retum from income )d ¢apOlal growth sufficient to fund the grants gwen. whust maintsining the value of the fund in rèal tèms. The aw Instructions lo thè Inv8stmenl advisors to have regard to any srrtitl¢ ethlcal, envlronmentsl or social consfjdemlons when decidlng investment strategy. There are no résffietions other than no dSrect Investnient in armaments or tobacco. Rg$•r¥os Pollcy Th8 charity utilises its fun(ts to award grants to other ¢harKable organisation$. The level of Tesource5 hgld has been su¢h as to enable luture gront awards to be rnet and to enable suffi¢ient irwme and capital growth to b8 geneTed 80 that reseryes would not bo depfeted by any fubJr8 grants awarded in ex¢egs of income sen?ratgd. Opgratlonal a$istanc• The major risks to whlch the trust Is exposed. as Sdontrfl8d by tho Trustees. have be•n revwad and systems hava been established where appropriate to mitigata those risks. Futur• Pl•n$ & Cornmltments The Trustsès intend to continue supporting registered charities with a blas lowards:_ lil Gera1 Conferonca of the New Chureh lill Medical Resèareh liiil Care and Prolgolion of Children livl Hospices induding those for children Thè Trustees intend to ¢onUnue their policy of maxlmum dlstribLrt*Th of availablo lunds. As far as th8 TnJsteey are 8ware. thgre is no rèlevant audit infomiatffi of whlch the charity's audito ara unawar8. Each Tnjstee ha8 laken all steps thèy ought to have taken gs 8 trust80 lo kO Ihgms•ls aware of any relevanl audit miftsmaOn and to establish that the charity's auditors ale aware of that infomatlon.
HOMELANDS CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR EhlDED 5 APRIL 2023 Structure. governan¢• and management The trustee5 who served during the yèar and up to the date of slgnature of the financl818tstém8nts were: Rev. C Curry, Bsc. (Hons.) N J ArmstruwJ RJCurry E Magulre The current Irusteej. shown on the legal and administralva page, have power of appolntment. Iden"llAti0n of new trusts8$ is carried out by the CUTrent trustees. ihe aim being to rewmmènd for appointment any person with suitabla experience and expe"$8. A curr8nt trustse will 8ppris8 any ITu8tee of hislher rosKX)nslbilities as appertain to the administerin9 0* thè trust lunds. Organlsatlon As tha charity has no staff, decisions are mad• Solely by the truslees at thelr rngulor meellngs. Prfnclpal addroSS Manfield House, 1 SIhamPton Street. London, WC2R OLR Publi¢ B•n•flt The Trnstees confirm that they have referred to Charyty CINnrnission's general guidarKe on publc benefrt whÈn rev¢ewing tho Trust's aim and objects and in planning ftjlurè aetlvrties forthe year.
HOMELANDS CHARITABLE TRUST TRUSTEES. REPQRT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 ststement of Tru$t••s' Responsibllltles The truslees are rèsponsible for preparing th• Truslee5' Rep and Ihg accounts in accord8nce with applicabl8 law and United Kingdom A¢¢ounting Standards Iunited Kingdom Gèner8llyA¢¢xpt8d Accwnling Pr8d¢el. Th$ law appllcable lo charili95 in England and Wales requlrtrs th• trustees lo prepar8 a¢wunts for each financi81 year which glvè a true and f8lr vlgw of the slate of 8ffatrs of tha charity and of thè incoming resources arKI applieAtion of resources of the charfty for that year. In prepèriNJ thesg acunts, the Iru8t88s are required to: - Se¢t suitable OCUnng policie$ Ènd then apply them consislenlly; - obseNe the methods and princlples in the Charities SORP., - make ludgemnts and estimate$ that ar8 reaable and prudent.. ststs whether 8ppNcable accounting standards have fdbw8d. subject lo any material departures dlsc108ed and explainad in the accounts,. and prepare the aonIS on Ihe going concam basis unless it is inappropriate to presume Ihat the ¢harfty wil continue in operation. The trustoes are resporible for k88ping sufficienl accounting recL)rds th81 disdose wrfh reaBonaNe accur8w 81 any ts.me the financial position of Ihe charity and en8bl& them lo ensuro that th$ accoLmts comply with tha Charities A¢t 2011, the Chartty {A)Unts and Reports) Regulations 2008 and the provisions of the trust deed. They are also reswnsible for safeguarding the assets of the ¢h8rty and hence for taking roasonBble steps for the wevenfjon and detection of fraud ané other Irregularities. R•v. Cllffo Trust Dated: ...¥.: L.vr urry. BS¢. (Hons.) J Amistrong Trust Dated.....E . ¥..w RJCU Trustee Dated.. E Ma9ulr• Trustee
HOMELANDS CHARITABLE TRUST INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF HOMELANDS CHARITABLE TRUST Oplnlon We have audited the financial statements of Homelands Charitable Tru$l (thé 'charfty'l for the erthd 5 April 2023 which compris8 the slalemenl of financial activities, the balance Sheet and the notes lo the flnanclal ststémèrbts, including a summary of signrficant aounting pollcles. The financial r8porting Irarnework that has been appli$d in thelr preparation i¥ appllcable law and Unile¢J Kingdom Accounting Startdards, including Financial Reporting Standard 102 The Fin&nei&l Reporting Stsndard appllcable In the UK and R8publlc of Ireland (United Kingdom GenerallyAcceptsd AA)Unting Practicel. In our opinion. thè financial statements= give 8 truè and fair view of thè stsle of the chavity's affalrs as 8t 5 April 2023 and of Its In¢0mg resources and appliealon of resources, for the year then ended.. have been [perlY prep8Trd in acrAJrdance with United Kingdom Generally Accepted Accounting Practice,. and ha b88n prepared In accoanCe th the requirements of the CharibesAct 2011. Basls for oplnlon We conducte(J our audit in acconlance th InternaOnal Standards on Auditing IUKI IISAS (UKI} and applicatle law. Our rèsponsibilities under those standards are furiher descrid the Auditorfs spOnsI1111eS for the audit or the finan1 stalemenls section of our report. We are independent of the chority in arLordance vAlh the ethical requirements that are relevanl to our audlt of the financial statemènts in th8 UK, inc4uding Iht FRC'S Ethical Stsndard, and wè have fulfilled our other ethical responsibilities in accordan¢e with these requlrements. W& bdleve that the audit eviden¢e we have obtained is suflicienl and approprfale lo prowde a basis for our opini1. Con¢lusitsns r•lating to going eone•m We have nothing to report in rèspect of the followirYJ matters in relation lo which the ISAS IUKI require us to rep)rt to you where: the Irvst08s' use of the going con¢em basis of acGounling in the prgp8rgtion of the fin¢181 statgmgnts is rKIt appropriate,. or the trustees have not disc10s0d in the financial statements any id$ntit7ed material un¢Èrtalnttés that may cast spjnificant doubt about the ¢h8rtty's ability to C4)ntinue t¢ adopt Ihe going concern basls of accounting for period of at least hvelve months from the data when the financkql statements are aulhorised for issue. O¢hw infornlation The other infomiatson comprlses the infomation included in the annual report other than the flnaneial statements and our audilorfs report thereon. The Iruslw a responsible for the olher infomiation contained within thè annual report. Our opinion on tho ffinancial stalernents does not cover Ihe othér information and we do not express any ftsm of assurance conclusion thereon. Our resptsnsiblllty is to read the olh8r infom)ation and, in doing so, consid$r whether the other information is malerialty ir)consistent with the financial sts19mgnts OT our knowledg8 obtslned In Ihg ¢ourse of the audit, or olharwlse appears lo b8 matgrially misstatsd. If we identfy such material inconsistsn¢ or apparent material misstat&m&nts, we are reqUId to determine whether this 9ives rlse lo a m819ri81 mi8$tstement in the financial Statèments themselves. If, basèd on the work have pgrfc*med. we conCde Ihat there is a material misststement of this other inforynation, wè ara raquired to report Ihat fact. We have nothing to report in Ihis ward.
HOMELANDS CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELANDS CHARITABLE TRUST Matters on which we are required to r•port by exceptlon In the light of th& knowledge and understanding of the ¢harity and Ns envlronment obtained In the couJ5e of the audit, we have not identffied materi81 mlsstatements in the (lireclors, pOrt Included within the twst•es' rewt. Wo have nolhirvJ to tsport in respect of Ihe followin9 matters in relation lo whi¢h the Charitie8 (AcCntS and Reports) Regulations 2008 require us to report lo you il. in our opinion.. the information given in the financial statemenis is iroThsistent In any materfal resped with the irustees, report", or sufficignt aOUnting records havg nut been kept,. or the thnancial statements are not In agreement wilh the accounng records,. or we have not received all the information an¢J oxplanations we iequire for our audit. ResponslbllllO•s of trusl•es As explained more fulty in thè statèment of trustee8' responslblltties, the trustees are r¢sponslble for thg prgp8181ion of the financial statements and lor being satisfied Ihal Ihey givg a true and fair view, and fgr such internal control as the trus10&s dotemine is necessary tts enable the prepar8tion of financAal statements that are free from materi81 mis$t8tèmant, whether due to fraud or error. In preparing th$ financial stalements, the Irustse$ are responsible for asse8s¢ng thè charity's ability to wntinu& as a going concem, dI$1n9, as appli¢8ble, m8ttars related lo going COTKern and using thè going con¢em basis of accounting un$3 the trust8as either intend lo 4$¢ oporattsins, or have no reali3b"c alternative but to do so.
HOMELANDS CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED TOTHE MEMBERS OF HOMELANDS CHARITABLE TRUST Auditorfs resptyn$lbllltles for the audlt of thg finan¢ial statom8nt8 Our objeetives are to obtain reasonat4e 8ssuranee about whether the financial sts18menis os a whole aro fr9e from material misstatement. wh&ther due lo fraud or error, and lo issue an audilorfs report that includes our opinlon. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordancg wrth ISAS IUKI will always deteet a materfal misslalemenl whgn ft exlsts. Misstatements can arisa from fraud or error and are consideTed malolial if, individualty or in thè aggrègatè. they could reasonably be expected lo influ&nce the economic dery$ions of users taken on the basis of these financlal statements. Irrggvlariti8s, Sncluding fraud, are instances of non-complianctr with l¥ws and regulatlons. We de8trJn PrOuS in line with our responsibilitios, ouuined above, to detscl materi81 mi$¥tstèm6nts in respect of irrggularitios, including fraud. The exlgnt to which our prwRdure$ 8rè cap8bla of detscting irregularities. including fraud is detailed below.. We assessed the risks of m¥rial misstatement in respect of fraud as follows: Enquiries made of managerngnt and those charged with govemanG8 Analytical procedures wèr8 usèd to identify rf there were any unusual or un8xp6cted relationshlps Discussions wlth managemgnt to Identify any traud risk I89r$ of rglat•d party relation$hlps ond transactions 88se(l on the results of our risk assessment w• d•signed our audit Procedures to id•ntfy nonwcompll8n¢e th such law3 8nd ragubtions identffied above. EnquiTie5 were madé of management and those chargèd with govemance. We corroborated our enquiries through the review of Board mlnules and other papers provided. There was no contradlctory evidersce. We considered th8 nsk of fraud through management ovèrride and, ir¢ rpOnse, we incorporated testing of rnanu81 journal entries into our audit approach. We 18sle(l year end joumals as well as journal entries throughout the year. There were no tran8a¢tions idgntrfied outside the rJmal cwrsg of business. Based on the results of our risk assessment we designed our 8wlit prgo¢durès lo identity and lo a¢Jdress material misst¥taments in relation to fraud. Wg Inc4Jrporated an element of unprèdictability in the selection of the nalure, timing, and •xt8nl of audit prp¢sdurès. Where transaction meets'ro risk crilgria wgro bJ8ntified, we out I#her work such as addrbonal tèsting to sour¢e information. A further des(pIlOn of our responsibilit$ 1$ avallabla on th8 Finanaal Reporting Council's website at.. https'.11 www.l.0rg.ukIaud6t0Ts18SpOnSIb1l•tIe$. Thi$ dèscrlptlon forms part of our auditorfs report.
HOMELANDS CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELANDS CHARITABLE TRUST Other mattgr Your attention is drawn to the fact that the Charity has prepaied financial Slalements in aGcordanGe wilh"Accounling and Reporting by Charities.. Slalement tsf Recommendèd Practice applicable to char&bes preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ifelan(J IFRS 1021" las amended) in preference to th$Acuntlng and Rgporting by char[$". Statement of RecDmmended Piacti¢¥ i$su8d on 1 April 2005 which is rele¥red to In the extant regulations bul has now been wlhdrawn. This has been done in order for the financi statements lo provide a true and lair view in accordance G&ner8llyAcceptedAccounling Practsce effective for reporting periods beginning on or after 1 January 2015. Thi5 report 18 made solely Its the Charit$ Iruslee8. as 8 body. in accordancè wth part 4 of thè Charslies (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charrty's trustees those matters we are required to state to them in an auditors report and for no other purpose. TD the fullest extent pemitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charty's trustèÈs ss a body, for our audit wtsrk, for this rèport, or for thè opinions WÈ have formed. A J Bennewlth FCA. FCPA. FFA. FFTA, DChA. FRSA (Senlor Statutory Audltor) for and on behalf of Bennewith 201B Limited Chartered A¢countants ststutory Audltor 9 February 2024 3 Vvey court Mary Rctrad Guildford Surrey GU14QU
HOMELANDS CHARITABLE TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Totsl Total Unro$tl¢tsd Unr•stlcted Funds Funds 2023 2022 Inromg and •ndowm•nts from: Inveslrrtents Other income 217,349 1.271 169.159 Tolal Incorng 218.620 169.161 Expèndiiure on: Raising funds Charitable activities Other 42.795 338.000 24,380 45,500 372,000 22,399 Total gxpendilur• 405,175 439,899 Nel gainsllk)sse$} trn invèstm8nts 10 1630,901 497.424 N•t incomel{expenditLtr•l 1817,4561 226.686 R•eonciUatlon of funds Total Funds brought forward 9.584,966 9,358.280 Total Fund$ earried forward 8,767.510 9,584.966 The stslemont of finondal activities include8 all gains and rocognis8d in the year. l irm arKJ èxpèndlture derive frorn eAryntinulng aCtitIs.
HOMELANDS CHARITABLE TRUST BALANCE SHEET ASAT5APRIL 2023 2023 2022 Not•S Flxed aBsel8 InvÈstmÈnts 11 8.6T3.810 9.354,502 Curr•nt ass•ts Cash at bank and in hand 180.606 304,386 Cr¢drtoYs: amounts falllng du• wlthln ong yèar 12 (36.906> 173,9221 Net ¢urrent assets 143.700 230,464 Total assets1•88 ¢urr•nt IlabllStl•s 8,767,510 9.584,966 Th• funds of the charity: Unrèstrictèd Funds 8.767,510 9,584,966 Total ¢harSty funds 8,767,510 9,584,966 The accounts were oppToYed by the Trustees on ....l.: Rev. Clrflor Trust•• urry, BSC. (Hon8.1 N J Armstrong Trustee RJCurry Tru$t•¢ E Maguir8 Trusts• Charity Registration No. 214322 10-
HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2023 A¢tounting policies Charlty Infomiatlon Hometands Charitsble Trust is an unincorporatad charity Irusl registgrèd with the Charity Commission in England and Wales with registration number 214322. The charity's registered address is Manffield Housg. 1 Southampton Strget. London. WC2R OLR. 1.1 Accountlng convention The accounts have been prepared in accord8n¢e with the charity's governing document. the Charities Act 2011 and "Accounting 8nd Roporting by Charitig5'. Statsment of Recommendèd Practice applicable to charities preparing thèir accosjnts in accordance wtth the Financial Reporting Sland?r¢J applicable iri the UK an(J Republic of Iretand IFRS 1021 las amended lor accwnting p8riods commencing from 1 January 20151. Th¥ charity is a Public Benefii Entiiy a$ dsfined by FRS 102. The a¢¢ovnts have departed from the Ch#ritio$ (Accounts Reports) Regulations 2008 only tr& thè èxtènt required lo provide a true and fair view, This departure has involved following the Statement of ReCnMended Practice for ¢harfties applying FRS 102 rather th8n the version of the Slalement of Recommended Practice whlch is referred 1¢ in the Regulallons but which has $in¢a b•en wlhdrawn. The financtal statements arè prèpared in sterling, which 1$ the functional currerKy of the tharity. Monetary amwnts in these financial stslemgnts ar• rounded to the n&8rèst t. The finandal statements have been pt$parod und8r the historical c¢)sl conv•nllon. The principal accounting FX)licies &)pted aro $8t out below. 1.2 Incomlng resou¢ Incoming re$ouress are recognised On the charity has entitlement to the rg8QLtrt•s. is probablè that thè resources will r•coived and that the nK>net8ry value of the incoming r&sctkJrc8s can be measurad wrth sufficient rellabilty. Income eamed for the yoar is allocated b&tsYÈon thè maln fijnds on an openlng balanco basls. 1.3 Re80urcg$ •xp•nd•d Expenditure Is recognised once therè Is a 18gal or o)nstructSve obligatK)n to transfer economic b8n•fit to a third paty, it Is probablo that a transfer ol economic nefits will be required in settlement. and the amount of the oblrgalion can be measured rellably. Expendilure is classified by acliwty. Th8 eosts of Èath aetivity are madè up ol the totsl of dt costs and shared costs. Includln9 SUPPOrt costs involvèd in LJndèrt8king each aclNity. Dired ¢osts attributable lo a snglè activty are allocated direcuy to that activty. Shared rosls which contribute to more than one actmty and support C4)5ts which are not attributable lo a slngle activity are apportbned betsveen those a¢tivities on a basis consistgnt the uso of rgsources. Central stsff costs ar8 allocated on the basis of time spent. and depreciation charges arè allocated on Ihe porticffl of the 8sseYs use. I revenue expendtiure incurred by the charty durirdJ the ygar has been charged to the Statement of Financial Activities. In aCrdanCe with the SORP, a liabilty Is only dlsclosed for those gr8nl$ whore a al or Constructive obligation lo rnak¢ payment exists at the ye8r eThJ. All expenditure is accounted for an accruals basis arhd 1$ dassffied under appropriato hgadlngs that 89grgg8tè All costs related to the $amfy rAtogory. Grants P8y8tAè ara madè to third parties in furtherance of the ch8rrtabl• objects of the Charity. 1.4 Fixed asset Snv•stm•nts Fixed asset inve8trMents are inilialty measured at Iransacllon Price including transactton costs. and are $ubsequenUy mea$urÈd at fair value at each reporting date. Changes in fair value are recOgned in incomel{expenditurel for the year. 11
HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accountlrfi pollcl•$ IContlnu•d) 1.5 Cash and cash •quival•nts Cash and ca6h equwalents include cash in hand. deposits hèld at call wth banks, other short-term INJuhJ investments with original maturSties of three months or less, and bank ovtrrdrafts. Bank overdrafts 819 shown wSthln rroWIng$ in current liabi11tig$. Ba¥ic fin•n¢lal assets Basic financia1 assets, whlch Include debtors and cash and bank bal¥n¢trs, are Initlalty measured at transaction price irKluding transaction costs and are subsequenuy carried at amtsrtls•d cost using the effeetive Interest mathod unless the arrangement eonstitutes a financing Iransadon. where the transaction is mea8ur¢d at the present value of the fvtur9 receipts discounled at a market rale of intgl¥St. Flnanaal assets cta5sified as rtrEewabl& wkhln one year are not amoitsed. Baslc Ilnanclal Ilabllltes Basic finand81 liabilities. indudlng creditors arg Initial ra¢cJnlsed at transaction price unless the arrangement conslilules a financlng Iransaclion, wherè thè dèbt instrumenl is measured al the present value ol the future payrnents discounted at a market rate of interest. Flnanclal Ilabilities classifi8d as payabl¢ withln one year are not amortised. Dèbt instruments are subsequonuy ¢arrled at amorlisBd cost, usiThJ the gffectivg interest rate method. Tra¢Je edItOrS are obligations Io pay lor goods or s8rvices thal have been aquired in the ordinary course of operation$ Irom suppliers. Amounts payabb are d85siffièd as current liabilities rf payThgnt is due within one year or les8. If not, they are presented a8 non-currenl liabllltks. Trade cdItorS are recognisad initially at transaction price aThJ subsgquenljy measured al 4mc¥rtwJgd cost usin9 the gffeth've Inte$t mgthod. Dare¢ogn1on of flnan¢lal114bilite8 Financial liabiliti9$ a derecognised when the charlty's contractual oblgattns expire or aro dlstharged or cancelled. Investmenl Incom• 2023 2022 Fixed interests Equity Aernative investments 31,810 131,164 54,375 15,858 110,978 42,323 217.349 169,159 Other Income 2022 Interest from stockbroker 1.271 12-
HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Rai¥ing lund$ Unrostrlct•d Unrestricted funds lurtds 2023 2022 Investment manag•m•nt 42.795 45.500 42.795 45,500 Charltabl• activities Type ol tsrganlsatlonlactivity Chur¢h M•dlcal Care and Hosplc•s Protection of Ch51dren Othgr charltl•• Total 2023 Total 2022 Oonalion$ 93.000 27,500 42,0) 18,000 157,500 338.OLX) 372,000 thjring thtr year th8 Trust donated £338,000 12022= £372.(x)01 to instilubon$ and £nll 12022= £nill to Indlviduals. DonatSons more Ihan 5% of tha total amount donatgd in the year are.. General Conferen¢e of the New Church 68.000 68,000 Trustees and r•lat•d parties tranactlons R.J. Curry was roimbursed travel costs by charity to the sum of tNIL12022.' £2691. N.J. Armstrong was preMously a partner In a firm (li0S LLPI thal provides accounl8ncy and administralion services to the charity 01 £19,64012022'. £17.8101. None ol th& trustees have been pai(1 any remuneratKn or received any other benefits from an employment their charity or a relatsd ents'ty. Employees There were no employe¢s during the year or preceding yoar. 13-
HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Oth•r oxp•nditu 2023 2022 Trusteès. f8•s and expenses Audit fees Acxountancy 269 4,320 17.810 4,740 19,640 24,380 22,399 T•x#tlon The charity is exèmpt from lax on income and gains falling wllhln seetion 505 of the TaxesAct 1988 or section 252 of the Taxationof Chargoable Gains Act 1992 to the extent that the$0 are applied to its charilabla obA&cts. 10 Net galnslllossesl on investments 2023 2022 Rtrvaluation of investments GainllLossl on sale of invostments 1679,5071 48,606 484,744 12.680 1630,9011 497,424 14-
HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 11 Fixed asset inv¢stments List•d Investments Cash ln portfolio Totsl Co¥t or v•luatSon Al 05 April 2022 Additions Va#tion ehanges Disposo1$ 9.177.408 755,807 (679,5071 {798.0371 177,094 9.354,502 755,807 1679,5071 1806.9921 {8,955) At 05 April 2023 8,455,671 168.139 8.623.810 CarrySng amount At 05 April 2023 8.455,671 168.139 8,623,810 At 05 April 2022 9.177.408 177.094 9,354.502 2023 2022 Llsted Inv8stm8nts at fair value compri¥8'. Fixad interest Equity Aliemative inve3tm8nt 1,444.733 5,022,556 1,988.382 1,524,800 5,517,870 2,134.738 8,455.671 9,177,408 Investments are stated at quotgd rnarket prf in an active market. Invgstrngnts. at market valuè, Ihal reprtt8enled more thon 5% of thè totsl markot value of the Investments al 5 April 2023 are: 30,238 Blown AVry Fd$ BWN Adv Us Susl Gth Si GBP 417.284 417.284 12 Crodltor¥: amounts falllng due wlthln one yr 2023 2022 Audilws Other creditors 8,780 28,146 8,400 65.522 36.908 n,922 15-
HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 13 Analysls of Movwn¢nt in funds The m8in objective of the funds, whi¢h a all unr8Strictad, is the general support of charilablg institutions wNh special regard to The General Conference of the Ntsw Chur¢h. medical research, the carè and protsction of children and hospices. The EH Curry fvnd represents a donatiori recéived from EH Cury and 1$ for general purposes. There are currenlly no deslgn81gd funds. The trustees aro not awarg of any trust law res1rictions affe¢b"ng any of th• funds. -16-