Chorlty roglBtratlon nUM￿r 214322 HOMELANDS CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 HOMELANDS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Sottlors H.F. Cury Idec'd.I Miss Elizabeth Curry Id8c'd.I Miss Freda Cury Idec'd.) Rev. Cliffoid Curry {dec'dl Trustees Rev. Clifford Curry, Bsc. {Hons.I N J Amistrong, FCA RJCurry E Maguira appointed by deed 19th June 1990 - aprx)inted by deed 23rd Sep 1994 - appointed by deed 6th April 2006 appointed by deed 16th Fab 2018 Charfty numbor 214322 Principal addre¥s Manfield House 1 Southampton Street London WC2R OLR Audltor Bennewith 2018 Ltd Upper Ground Floor 18 Famhaffl Road Guildford Surrey GU14XA Accountants and Admln15trators liotts LLP Manfield House 1 Southampton Street London WC2R OLR Bankers Bank of Scotland 600 GDrgie Road Edinburgh EH113XP In¥eslment •dvlsors Investec Wealth and Investment Limitgd 30 Grgsham Street London EC2V 7QN HOMELANDS CHARITABLE TRUST CONTENTS Page Trustees. report Ind8P8ndent audil0rf8 report Stslement of finanaal actwities Balance sheet 10 Notes to the accounts HOMELANDS CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The bijstees present thoir rotK)rt and accounts for the year ended 5April 2024. The Homelands Charitable Trust was created by d8gd d8teil 1stApril 1962 by.'- Mr Henry Frederick Curry IDec'd.I Miss Eliz8bglh Cury IDec'd.I Miss Freda Cury IDec'd.I Rev. Clifford Cvrry ID8c'd.I Further fvnds were settled by Mr Edward Cury in 1993 and from the Estates of MFSS Elizabeth Curry in 1996 and ML8s Freda Curry in 2000. 2001 and 2002. 11 was r8gist8red with the Charity Commission Iiegistralion No. 214322} on 27th December 1962 as a charity whose main obj8cliv8 was th& gonw81 support of charitable institutions. with special regard towards the General Conference of the New Church. The financial statements have baen pTrpared In accordance with the accounting policies sel out in note 1 to the financial stalemants and comply with the charitls governing docum8nt, the Charities Act 2011 and 'Accounting and Reporling by Char￿￿es., Statement of Recommended Pra¢ti¢e applieable to charities preparing their accounts in accordance with the Fin8ncial Repo￿ng Standard applicable in the UK gnd Republic of I￿land IFRS 1021" las fflend8d for accounting per￿S commencing from 1 January 20161. Objectlves and actfvitl•$ The objectives of the ¢h8rity this year have again been to sUp[￿rt a rang8 of genèral charrfable causes, together wlth special emphasis towards contributions to the General Conference of the New Church, Medical Research, Care and Protecbon of Children and Hospices. This is achieved by way of a variety of don8lions lo ¢harities. which can vary from year to year, such donations boing distributed by the accounlanls. The trustees have adopt8d where appropriate andlor practicab￿ the HBllmarks of an Effective Chartty issu$d by the Charity Commission (CC601. The investm8nt portfolio is managed lo maintain capital and income in real terms lo provide for dcnatlons to registered charities. As donations are made only lo reg￿￿ter0d charities it is considered that the recipients have prirnary responsibility for impact and outcomes. However, all Tecxpient charities A￿ reviewed at least annually and visits madg Whe￿ possible to ensure potential 1$ ma￿miSed. The original charity trustees were appointad by trust deed dated 1st April 1962. There is at present one professional trust88 adminislrdlion ar¥J ac¢ounting services outsourced. Revefend Clifford Cury was appointed on 19th June 1990, NJ Amistrong. F.C.A. Yras appointèd on 23rd September 1994. R J Cury was appointed on 6 April 2006 and E Maguire was appoinle(l on 15 Febru8ry 2018. The clerical trustee also advises on ecclesiastical an¢J so¢ial matters thus providing both sound governance and flexibilrty. Th8 truste&s consider that the pr8s8nl structure and policies gn8bl8 it to achieve its aims in an efficient fflannor which is trdnsparent and understsndable. The Iruslees have paid due regard to guidance Issued by the Charty Commi55ion in deuding what acbvilies the charity should undertakè. Flnanclal rwlow The charfty's incoming resources durfng th9 year were £230,32212023: £218.620). After making donations tsf £329,500 12023.. £338.0001. the total expenditure amounted to £394,242{2023.' £405,175). Including gain on investm8nt assets of £669,74412023.. loss £630.9011. the net movement in funds for the year shows an increase of £505.824 {2023: d￿reasO £817.4561. Total fvnds 81 year 8nd amounted to £9,273.33412023.' £8,767,510}. The tnjslees are confident that thè financial base of the tharity Is suffldent to provide a firm foundallon for fvture actswli88. HOMELANDS CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 The charity ulllls88 ils funds lo award grants to other ¢h8ritable or9anis*ion5. The lgvèl of resources h8ld has been such as lo enable fvture grant awards to be met and to enable suffiaent income and capitsl gr(Iwth to be generated so that reserves would not be ￿￿theted by any futur& grants awarded in Èx(*ss of income genoraled. Investment Policy The charfty holds investments with 8 market value of £9 million. The objectives are to achieve a bal8ne8d reium from income and capital growth sufficient to ftjnd the grants given, whilst maintsining the value of tha fund in real lerrns. Thei8 are no instructions to the inv8$trnent advisors to have regard to any specffic ethical, envIron￿￿tal or social considerations when dèciding investment strategy. There are no restrictions other than no direct invgstmgnl in 8maments or tobacco. Reseryes Pollcy The charity utilises its fttnds to awarKf grants lo olhef chafitablg organlsations. The level of resources held h88 been such as to enablè ftrture grant awards lo be met and to ènable sufficient income and capital growth lo be gènèratéd so that reserves would not be depleted by 8ny future grants awarded in excess of ineome generated. Operational assistance The major risks to which the trust Is exposed. 8$ Idgntifi8d by the Trustees, have been rev¢ewed and syst8ms havo b88n astablishgd where appropri810 lo mitigate those risks. Future Plans & Commllmgnts The Trustees intènd to ¢x)ntinue supporting registered charities with a bias towards:_ lil General Conference of the New Chur lill Mgdical Research liiil Care and Protection of Children livl Hospicas including those for children The Trustees Sntend to conlnu8 Ihelr policy of maximum (Jislribution of available funds. As far a8 the Tru8lees are aware, there is no relevant audit information of which Ihg ch8rtty'8 aLKlilors are unawaTr. Each Trustee has laken all steps they ought to have taken as a trustee to make tt)emselvès aware of any relevant audit inf¢)m)ation and to establish that th8 tharity's audito￿ are aware of that infomi81ion. HOMELANDS CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED SAPRIL 2024 Structure. govoman¢e and manag•m•nt The trustees who served during the year 8nd up to the date of signature of the fin8n¢i81 statements wore.. Rev. C Cury, BSC. (Hons.) N J Arwnstrong RJCurry E Maguire The (xjrrgnt trustees. shown on thg Iggal and administrative page, have power of apwintrnent. Identification of new trustees is carrled out by the current truste8s, th& alm belng to recommend for apptsiritmenl any person with suitable expellence and expartlsg. A current twstoo will apprise any new trustee of hislher responsibilitlès as appertain to the administering of the trust funds. Organlsatlon As th8 charity has no staff. decisions arg made solely by the trustees at th&r rtrgular meeb'rvJs. Prln¢lpal address Manfield House. 1 Southampton Slreel, London. WC2R OLR Publlc Benefft The Trustees confimi that they have refe￿ed lo Charity Commlsslon's g8ngral guidance on publlc benefit when reviewng the TTusVs aim and objects and in planning futurè activthes for the year. HOMELANDS CHARITABLE TRUST TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Statwnent of Trustees. Responslbllitles Thè Iruslees are responsible lor preparing the Trustees, R8port and the accnunts in a￿ordanCe with applicable law and United ￿'ngdoM Accounbng Standards (Unitèd Kingdom GenerallyAccèpted Accounting Practic&l. The law applicable lo charities in England and Wales r8quires the trusteès to prepare accounts for e8ch financial year which give a true and fair view of the state of affairs ol the cknarity and of the incoming resources and 8ppIIc8tlon of ￿sOurceS of the charity for that year. In prèparing thèsè accounts, the tnjstees are raquir8d to: - select suitable accounting pollci8s and thèn apply them consistsntly- - ob8grvg the methods and prinuples in the Charities SORP", - make judgements and estimates that 8fe reasonable and prudent., state whether applicable accounting *andards have been follcwed, subject to any mat8rtal departures dlsdosed and explained in the accounts.. and prepare the accounts on the gorng concem basis un16$s it is inappropriate to presume that the charity wll contlnuè In operatlon. The trustee5 are responsible for keeping sufficient acLounting records that disclos& with reasona￿& a¢¢ur8cy at any time the financial rx)sition of the ¢harlty and enable them lo ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions of thè trust dg6d. They are also responsible for safeguarding the assets of the charity and h8ncè for taking rèasonablo Steps for the prevention and iJete¢tion of fraud and other irregularities. Rov. Cllfft•rd Cury. BSC. (Hons.) Trustee N J Armstrong Trustee Dated.. RJCurry Trustee 08ted.. E Maguir• Trustee <3.loLi z HOMELANDS CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HOMELANDS CHARITABLE TRUST Opinion We have audited the financial statements of Homèlands Charitsble Trust (the 'charity'l for thg ygar gnded 5 April 2024 which comprise the statement of finanty81 8ctivthes, the balance sheet and the notgs lo the finanual statsmenls, inclLtding a summary of signrfic8nt accounting policies. Tha finandal rgporting frarn8work that has been applied in th6ir préparation is applicable law and United Kingdom Aecounting Standards, induding Finanual Roporting Standard 102 Th& Financial Reporting Standard BpplKable in thg UK and RepubliG of Ireland (United Kingdorn Generally Accepted Accounting Practicgl. In our opinion, the financ4al statements.. give a true and fair view of the state of the charity'3 affairs as at 5 April 2024 and of its inccminy rèsources and applicatSon of resourcès, for the year then anded-, have been propetly prepared in accordance with United Kingdom Generally Ac¢epted A¢¢ounting Practi￿. and hav8 boen prepare(l in accordance with thg requirements of the Charfues Act 2011. Basls for oplnion We conducted OUT audit in a￿rdan￿ Ynth Internation81 Stsndards on Auditing (UK) IISAS IUKII and applicable law. Our respDnsibililies under those standards are further described in the Auditorfs responw-biliti&s for th& audit ol Ihg firJan¢ial stat&mgnls s8Ction of our rèptsrt. We are independenl ol the charity in accordance with the othical requiremen15 that are rel8V8nl to our audit of th8 finanual stalèments in tha UK, induding the FRCS Ethical Standard, and we have fulfilled our other ethical responsibililigs in a¢cordan¢e wilh Ihgsg rèquiroménts. Wo bgliovg th81 th8 audit 8vid6nce we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern We have nothing to report in respect of the following mattels In rgt8fjon to which thg ISAS IUKI requlre us to report lo you wherg.. the trustees. use of the going o)ncern ba8is of 8cco{Jn￿ng In the prep8ralon of the flnancl81 statements Is not appropriate,. or the trustèés havè not disclosed in Ihe financial statements any identified material un￿￿inti8S that rnay cast significant doubt about the charity's abilty to continue to adopt the going concern basis of accounting for a period of at least twelve months from the dale when thg financial stsl8m8nts 8re authorisèd for issu8. Othgr Infomiation The other information comprisès the infomation Sncluded in the annual report other than the financial statements and our audilorfs report thergon. The trusteès are responsible for the other infomiation conlained ￿tthIn the annual report. Our Dpinion on the financial statements does not cover th8 othor infomiation and we do not express any form of assurance conclusion the180n. Our responsibility is to read the other information and, in doing so, consider whether the other information is m8teri8lly ineonsistent with the financial ststements or our knowlajge obtained in the course of the audit, or otherwise appears to be rnaterially misstated. If we idgntify sueh material inconsistenaes or apparent material misstatèmènts, wo are required to delernine whether this gives rise to a mateTial misstatement in the financial slalements themsefves. If. bas8d on the work we have perfomied, we conclude that there 1$ 8 materfal misstaternent of this other intormalion, we are required to report that fact. We have sJ)thing to report in thi8 regard. HOMELANDS CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF HOMELANDS CHARITABLE TRUST Matt¢r$ on which we are roqulr•d to report by exceptlon In the light of the knowledge and undorstanding of the charity and its £'nvin)nmgnl obtained in the coursè of the 8udlt. wo have not thnb'fied materfBI mlss18tsments in the directors, report InrJud8d ￿thIn the trustees, report. We have r￿thIng to report in respect of the following matters in r8lation to which the Charitles IAecounts and Rèports) Regulation$ 2008 requi￿ us lo report to you rf. in our opinion.. the inforn)ath)n given in the fin8nual statements is inconsistent in ahy material respect with the trusteas, report", or sufficient accounting records have not been kept,. th& financial statements are not in agreement with the accounting recoiils." or we have not received all the infomiab'on and explanalKJns we reqL*im for our audit. Rè$pon$lbllltlg$ of trusts9$ As èxplalned mor& fully In thg stslement of trustees. responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such int6mal contrtsl as the trustees detemiine is necessary to enable the preparation of finanual statem6nts that free from material mSsstatèment. whèlher du9 to fraud or error. In preparing the financial stat8mènts, the trustses are responsible for assessing the ¢harity's ability to continue as a going 1x)n￿rn, disclosing, as applicable, matters related lo going concem and using the going conceTn basis of accounting unless the trustees either intend to ￿se operations, or havè no realistic altemative but to do so. HOMELANDS CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELANDS CHARITABLE TRUST Auditorf$ re8ponslbllltlo$ for the audll of th• financlal stat•m•nts Our objects'ves are to obtsin reasonable assurance about whether the financAal statements 88 a whole ar6 fr89 from material misstatemènt. whether due to fr8ud or eiror, and to 188ue an auditorfs report th81 includes our opinion. Reasonable assurance is a high lev$1 of 88surance but is not a guarantee that 8n 8iJdit conducted in a¢wrdance wilh ISAS IUKI will always dete¢l a material misstat8menl when it exists. Misstatsments can arisè from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be exp￿cted to Influence the economic decisrons of users takon on the basis of these fin8n(aal statements. Irregularities, induding fraud, arè instances of non-compliance with laws and rggulalions. We deslgn procedures in line wth our Tesponsibilities, outlined above. to detect material rnisstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregulariti&s. Including fraud 15 detsiled below.. We assessed the risks of material mS$ststement in resp8cI of fraud as fdlows.. Enquiries made of management and those charge contradirtory evidgnce. We ¢onsidor9d the risk of fraud through m8nagemant ovethde and. in rèsponsa, wfy Sncorporat8d tgsting of manu81 jOUTnal enthes into our audit approach. We tested year end joum81$ as well as joum81 trntries throughout the year. There were no transactions identified outside the nom)al course of business. Based on the results of our risk assessment WÈ dèsigned our audit piocedures to Hlentify and tr> a(klrèss m818ri81 misstatements in relation to fiaud. We incorporatsd an element of unpredidabilily in the selection of the nature. timing, and extent of audit procedures. Where transaction meeling risk crrttrria wer& identified, w& ￿Med out furthor work such as additional tgsting to source information. A fiJrther descriplKJn of our re5wnsibililies is awailable on tho Finanual Raporbng Council's website 8t.. https.'Il wvm.frc.org.uklauditorsresponsibilities. This description fomis part of our auditorfs reporL HOMELANDS CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HOMELANDS CHARITABLE TRUST Olher matt•rs Your attention is drawn to the fact th81 the ¢harfty h8s propared financial statements in accordance woth 'Accountino and Reporting by Char¢tses'. Stat9menl of Recommended Pradice applicable to charities preparing th￿￿ accounts in 3ccordBncè with the Finan¢i81 Reporting Standard applicable in the UK and Republtc of I￿land IFRS 1021-18S amendgdl in preferen￿ to the Accounting and Reporting by Charstiès.- Statement of R6comm8nd8d Pra¢tice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial statements to provide a tnje and fair view in accordance wth Genèrally Accepted Accounting Practice ￿1¥@ for r8porting p6riods bèginning on or aftgr 1 January 2015. This report is made solely to the charity's trustees. as a body, in accordance with part 4 of the Charthes IAccounts and Rtrptsrtsl Regulations 2008. Our audit work has been undertaken so that we mlght state to the ¢h8riVs Iruslees those matters we are required lo stale lo Ihern in an auditorfs report and for other purpose. To the full8St extent pemiitted by law. we do not accept or assume responsibility to anyone other than the charity and the charlty's Iwslees as a body. for Ouf a￿lIt work. for this report. or for the opinions we have forn￿￿. A J 8onn•wlth FCA. FCPA FFA, F￿A. DChA FRSA (Seniow Statutory Audltor) lor and on bèhalf of B•nn•wlth 2018 Llmited Chartered Accountants ststutory Audltor UpperG nd Ftoor 18 F8mh8m Road Guildford Surrey GU14XA HOMELANDS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Total Total Unre$ticted Unresticted Funds Funds 2024 2023 Notes In¢Mi& and •ndowments from: Investrnents other income 222,201 8.121 217.349 1.271 Total Income 230,322 218,620 Exp•ndltur• on: Raising funds Charitable acttvthgs Other 44,492 329.500 20.250 42,795 338,000 24,380 Total •xpondltur• 394,242 405.175 Net gainslllossesl on investments 10 869.744 1630,9011 Net Inctsmo11gxpgndrture} 505,824 {817,4561 Reconclllatlon of funds Total Funds brought foN4ard 8.767.510 9,584,966 Total Funds carrl•d forward 9.273.334 8.767.510 The statement of financial activrties indudes all gains and losses re¢ognise(l in the year. All income and expendibjre derive from continuing adivibes. HOMELANDS CHARITABLE TRUST BALANCE SHEET ASAT 5APRIL 2024 2024 2023 Nots$ Flxed assets Investments 11 9,152,863 8,623.810 Currènt •¥sets Debtors Cash at bank and in hand 12 405 151.906 180.606 152.311 180.606 Cr•dltor8: amounts falllng due wlthln one year 13 131,8401 136,9061 Net current ass8ts 120.471 143,700 Total •¥¥ets less current Ilabllltl•s 9.273.334 8.767.510 Th• funds of th• charlty: Unrestricted Funds 9,273,334 8,767,510 Total charity fund8 9,273.334 8,767,5fO The accounts were approved by the Trustèes on ....&.....fv?..b L4 Rèv. Cltfftjrd Curry, BS& (Hon5.) Trusts• N J AmistrorKJ Trust RJCurry Trustee E Maguire Trustse Charlty Reg5stratlon No. 214322 10- HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng poll¢l•s Charity intormation Homelands Charitable Trust is an unincorporat8d charity InJ$t rogistored with the Charity Commis8K)n in England and Wales with registratlon number 214322. The chartys registered address is Manfield House. 1 Southampton Street. London, WC2R OLR. 1.1 Accounting convèntitsn The accounts have been prep8re¢J in a¢eordane8 with the ch8riVs goveming document, the Charitie5 Act 2011 and "Accounting and Reporting by Charities.. Stalemtsnl of Ro¢ommandèd Practice appllcable to charilios preparing thoir accounts in accordance with the Financial Reportin9 Stsndard applt¢able in thè UK and Republic of Ireland IFRS 1021° las amended for accounb'ng periods commencing from 1 January 20151. The charity is a Public Benefit Entty 8$ dofin8(I by FRS 102. Thè accounts have departed from the Charities IAco)unts 8n4J R8POrtsl Regulations 2008 only to the extent required lo provld& a true and fair view. This departure has involvod following th8 Statement ol Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Pracbce whieh is referred to in the R8gul*lons but which has since been Wthdrawn. The finanrial ststements a￿ prepared in sterting. which is the functional currency of the chartty. Monetsry mounts in these financial statements a￿ rounded to the nearest £. The financial statements have bèèn prepared under the historlcal cost convention. The principal aw)untlng policies adopted are set out below. 1.2 Incomlng rèsourc•s Incoming resoLtrces are Tecognised once the th8rÉty has entitlement to the resources. it is probable that the resources ￿11 be receNed and that thè monetary value of the incoming resoLtrces can be measurad wth sufficAenl relk4bility- Ineome eamed for the year is allocated betsyeen the main fvnds on an opening balanco ba$ls. 1.3 Rèsources expended Expanditure is ref￿gniSed once there is a legal or ¢onstnJctive obligation lo Iransf8r gconomic benefft lo a third paty, It is probable th81 a transfer of economic benefKis will be required in settlement, and the amount of the obligation can be measured reliably. Expendtture is classified by 8Ctivty. The costs of 88ch activity are made up of the tol81 of dir*t costs and shared costs, induding 5UPPOrt costs involved in undertaking each actwity. Di¥ect costs attribulable to 8 singlè 8Ctivtty are allocated directly to that activty. Shared ¢osts which contribute to more than one activity and support wsls whlch are not attribulablo to a single activity are apportioned betsveen those adivities on a basis ¢onsistenl with the us8 ol resources. Central stsff costs are allocated on the basis of litntr spent, and depTeci8tion charges are allocated on the Fxjrtion of the ass8Ys use. All revgnue &xpenditure inCU￿d by Ihe charity ¢Juring the year has beèn ¢harg8d to the Statement of Financial Activities. In accordance wtth the SORP. a liability is only disclosed for thos8 grants where a legal or constructive obligation to make payment exists at the year end. All expenditure is accounted for on an basis and is dassified under appropriats headings that aggr89ate all costs related to the sam6 category. Grants p8yable are made to third in fijrthwance of the charitable objects of the charity. 1.4 Flx¢d asset Investments Fixed assel investments 8re Initially measuTe(l al transaction price induding transaction costs. and are subsequ$nUy measured at fair value at each reporb.ng date. Changes in fair valub a￿ recognised in net incomellexpendilur8) for the year. 11 HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Accountlng pollclos (Continu•dl 1.5 Cash and ea$h equivalents Cash and cash equivalents indude cash in hand. dtrFX)sits held at call with banks, other short-term Itquid investments wth original maiurities of three months or less, and bank ov8rdfafts. Bank overdrafts are shown within t%)rrowings in current liabili￿68. 1.6 Flnanclal Instrumtnts Th8 charity has elected lo apply the provisions of S8¢1ion 11 'Basic Financial Instruments. and Section 12 'Other Financial Instnjments Issues, of FRS 102 to all of its finanaal instrum8nt$. Financial instruments are recognisad in tha d)aritys b8lan¢e sheet when tho charity bacomas party lo the contractual provislons of the instmment. Financial assets and liabilities are offset, with the net anK)unts p￿sented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and setu6 th8 liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtorn and cash and bank balances, are Initially m&asureil at transaction pri￿ including transaction costs and are subsequenuy carried at amortis811 cost using the effective interest method unless the arrangement constitute5 a financing transaction, where the transaction is measured at the present value of the futur8 receipts discounted at a market rale of inteTest. Financial assets classified as receivable within one year are not amortised. Baslc financlal Il•blllte$ Basic fin8nci81 liabilities, induding creditors are In￿.811Y reQ￿nI3￿(l 8t tran8action price unless the arrangement constitutes a financlng trarisaction, where the debl instrument is measured at the present value of thè fiJtur& paym8nts discount8d at a mark6t ¥at8 of int•r8st Financial Itabiliti*s dassffi8d as payabte within one year are not amorti5ed. Dèbt instrumènts arè SUbS￿u8n1Y carried at aM0￿sad cost, using the eff8cbvg intèrest rat8 mathod. Tr8¢Je credf(ors aro obligab'ons to pay for goods or sgrvlcss that havg b86n acquirgd in tho ordin8ry course of operations from suppli8rs. Amounts payabl8 are classifi8d as curr8nt liabilities rf p8yrnent is due within one year or less. If not, they are presentsd as non-currenl liabilitw. Trade creditors are recognised initially al transaciion price and subsequenlly MeaSu￿d at amoftised cost using the effective interest method. Derecognltlan of flnanelal Ilabllltes Financial liabilthes are derecognised when the charity's contractual obligations expire or a￿ discharged or cancelled. Investment Income 2024 2023 Fixed interests Equity ternalive investsnenls 43.943 123.120 55.138 31,810 131,164 54.375 222,201 217.349 12- HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Other In¢om• 2024 2023 Interest frorn stockbroker 8,121 1,271 RaSsing funds Unre8trlcted Unrethrted funds funds 2024 2023 Inv•stment manag8m•nt 44.492 42,795 44.492 42,795 ChaTitabk activitlès Typg of arganlsatlonlactivity Church Medlcal Car• and Hosplces Protoctlon of Chlldren other charltl•s Totsl 2024 Total 2023 Donations 92.000 85,500 73,500 10.000 68,500 329,500 338,000 Dufing the year the Trust donated £329,500 12023: £338.0001 to institutions and £nil 12023.. £nill to indw¥Juals. Donations ny)re than 5% of the total amount donated In the ygar are.. Broadfield Memorial Fund General Conference of the New Church 17,000 60,000 77.OIM) 13- HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Trustses and rolated partlos transa¢tlons R.J. Curry was reimbursed travel costs by the charity to the sum of £NIL12023= £NILI. N.J. Arn)strong was prewousty 8 p8rtn8r in a fimi IAliotts LLP} that promdes accountsncy and 8dffHnistralion 8orvl¢es to the charity of£15.570 {2023= £19,640). None of the trustees hav8 paid any remuneration or received any othgr bén8lits from an employment with thelr charity or a related entity. Employee5 Therg wor& no employees during th$ year Of preceding ygar. Oth•r oxpendlture 2024 2023 Audll fges Accountancy 4.680 15,570 4.740 19.640 20,250 24,380 T#xatlon The charity is 9x8mpt from taxalion on Its activities bg(xus8 all its incomg is applied for charitable purposes. 10 Net galn51lloss88) on Investm•nts 2024 2023 Rev8luab"on of inve81ments GainllLossl on of investments 524.599 145,145 1679.5071 48.606 669,744 1630.9011 14- HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 11 Flx•d asBet Invostments Listsd Investment$ Cash In portfollo Total Cost orvoluatlon At 05 April 2023 Addltlons Valuation changes Disposals 8,4S5,671 2,805.962 524.599 12.790.612) 168,139 8,623,810 2,805,962 513.703 12.790.612) 110,8961 At 0SApril 2024 8,995.620 157.243 9,152,863 Carrylng amount At 05 April 2024 8.995,620 157,243 9,152,863 At 05 April 2023 8,455.671 168,139 8.623.810 2024 2023 Li5t8d investments at fair valug wmprise: Fixad interest Equity temalive inveslm8nt 1,934.556 4,863,965 2,197.099 1.444,733 5,022,556 1,988,382 8,995,620 8,455.671 Inv85trnents are stated at quoted market price in an active tnarkel. Investments, at fflarket value, that represented more than 5% of the total market value of thè investments at 5 April 2024 are= 413,450 Royal London Bd Fd RL St8rfing Credit Z GBP DI 53,910 CTILuxl I Si¢av Cl {Luxl Gbl Corp Bd Ngc GBP 11.150 Ishares Core S&P 500 Ucits Erf USD 501,928 476,462 456,885 1,43S,275 12 D¢btor$ 2024 2023 Amounts falling wlthln one year Other debtors 405 15- HOMELANDS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 13 Crodltars: am¢)unts falllng due wlthln on• ￿*r 2024 2023 Auditors Other creditors 4,560 27.280 8,760 28,146 31,840 36.906 14 UnreBtrlct•d funds The unrgslri¢le(I funds of the charlty ¢ompris8 the unexpended balancès of donations and grants which are not subj&¢t10 Specific condibons by donors and grantors as to how they may be used. Thes6 include eslgn8ted fvnds which have b8en set aside oui of unrestrictod funds by the trust6es foi speoific purposes. At 6 Aprll 2023 Ineoming resources Resources •xp•nd•d Galns and 10sS•S At 5 Aprll 2024 Genèral funds 8.767.510 230,322 1394.2421 669,744 9.273,334 Prevlous yèar. At 6 Aprll 2022 Ineomlng ro$ou￿¥ Re$ource¥ expended Gains and loss•$ At 5 April 2023 General fijnds 9,584.966 218.620 1405,1751 1630,9011 8.767.510 15 Analysis of Movement Sn lunds The main objadv8 of the funds. whi(* are all unrestricted, is the general support of ¢h8ritable instrtulions with special ￿gard to Thè G8ner81 Conference of the New Church, medical resèar¢h, the care and prolectlcn of children and hospices. The EH Cury fund represents a donation received from EH Curry and is for gerpral purposes. There are currently no designated fvnds. The trustees are not aware of any tru81 law restrictions affacting 8ny ol the funds.