2022-03-31-accounts

Charity Registration Number: 219783

THE CARLTON HAYES MENTAL HEALTH CHARITY

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

THE CARLTON HAYES MENTAL HEALTH CHARITY

CONTENTS

	Page
Trustees’ report	1 – 5
Independent examiner’s report	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9 - 14

THE CARLTON HAYES MENTAL HEALTH CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity’s governing document, the Charities Act 2011, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Accounting and Reporting by Charities: Statement of Recommended Practice for charities applying FRS 102 (2019).

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for Charities applying FRS 102 (2019) rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

REFERENCE AND ADMINISTRATIVE DETAILS

Elected Trustees	Mr M Newcombe	Chairman to 13 October 2022
	Mrs R Stembridge	Vice-Chair from 1 July 2021
	Ms M Bradley	Vice-Chair to 1 July 2021
		(resigned 7 October 2021)
	Councillor W Liquorish	(resigned 4 June 2021)
	Councillor E Cassidy	(resigned 1 October 2021)
	Councillor R Joshi	(appointed 1 October 2021)
	Councillor G Waller	(appointed 17 May 2021)
	Councillor N Bannister	(appointed 4 June 2021)
Co-opted Trustees	Mr R Foster
	Mr A Kataria	(resigned 12 March 2022)
	Dr S Smith
	Mrs C Eastwood	(appointed 1 July 2021)
	Mr M K Dunkley	(appointed 16 June 2022 and appointed
		Chairman 13 October 2022)
Clerk to the Trustees	Shakespeare Martineau	LLP
Charity number	219783
Principal office	Two Colton Square
	Leicester
	LE1 1QH
	Telephone: [phone]
Bank	CafCash Ltd
	PO Box 289
	West Malling
	ME19 4TA
Investment advisors	CCLA Investment Management Limited
	80 Cheapside
	London
	EC2V 6DZ
Independent examiner	C J Castleman FCA
	Newby Castleman LLP
	West Walk Building
	110 Regent Road
	Leicester
	LE1 7LT
Solicitor	Shakespeare Martineau	LLP
	Two Colton Square
	Leicester
	LE1 1QH

• 1 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

OBJECTIVES AND ACTIVITIES

Objects

The objectives of the Charity as stated in the Governing Document are as follows:

The income and capital must be applied for the relief of poor persons who are experiencing or who have experienced mental health problems and who are resident in the City of Leicester and the Counties of Leicestershire and Rutland by the provision of grants, donations or in other ways that the Trustees shall from time to time determine.

Main activities

The Charity’s principal activity continues to be that of providing grants for the benefit of poor persons who are experiencing or who have experienced mental health problems and who are resident in the area of benefit. Grants are made for the benefit of qualifying recipients within the private and voluntary sector including the charitable arm of the Leicestershire Partnership NHS Trust. Grants are not made for costs that in the view of the Trustees should be met from public funds.

Grant making policy

The Charity receives applications for grants which are considered by the Trustees at their meetings. Feedback reports are regularly received and are monitored by the Trustees. The policy of the Charity is that grants must normally be drawn down within twelve months of the award notification unless otherwise agreed and successful grant applicants are advised of this when notified of the success of their bids. No funds of the Charity may be provided for the relief of rates, taxes or other public funds.

Public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commissioner’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities and setting the grant making policies.

The Trustees fulfil their obligations by making such grants to other charitable bodies registered and otherwise, which in the opinion of the Trustees provide public benefit.

ACHIEVEMENTS AND PERFORMANCE

Main achievements for the year

The Board of Trustees have continued to meet regularly over Zoom and face to face so that the decision-making progress was not hindered. Activity levels have been maintained and remain consistent with the charitable objectives. The Charity maintained its longstanding programme of supporting smaller grant application bids from voluntary organisations and larger grant application bids which are defined as being in excess of approximately £10,000. A detailed listing of all institutions supported is itemised on page 12 and the feedback we receive from the projects supported is most encouraging.

During the year the Trustees awarded a block grant to Raising Health in the sum of £55,000. Raising Health is the charitable arm of the Leicestershire Partnership NHS Trust and is an independently registered charity (No 1057361). The block grant is subject to terms and conditions of a service level agreement. The funds are ringfenced by Raising Health for the purposes of our charitable objectives and regular and detailed feedback as to how the funds are spent are given to the Trustees as provided for in the agreement. No administration costs are chargeable by Raising Health from the funds awarded to it.

The Trustees continued to adopt a pragmatic approach to bids which involved the employment by the applicant organisations of additional staff to deliver their proposals. Examples included a youth worker at Twenty Twenty, an emotional support worker at First Step, counselling services at Quetzal, a new mental health counsellor to join the team at SHARP and staff and volunteer training at Leicester LGBT Centre. In all cases Trustees remained of the opinion that long term funding for such initiatives could not be provided by the Carlton Hayes Mental Health Charity and all recipients were encouraged to seek long term funding elsewhere. However, CHMHC may be able to fund start-up or pilot projects, which include the employment of personnel, where such initiatives find it difficult to find funding

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THE CARLTON HAYES MENTAL HEALTH CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

elsewhere in circumstances where the Trustees can see real potential for the mental health community in Leicester, Leicestershire and Rutland.

FINANCIAL REVIEW

The Charity has invested the majority of its funds with CCLA Investment Management Limited and has established a routine of receiving quarterly reports from, and an annual review meeting with, its investment manager. Investment income for the year increased to £196,805 from £191,593 which was in line with our investment advisors’ predictions given the fall last year largely due to the COVD19 pandemic.

We awarded grants to 19 organisations during the year in the sum of £198,781 and it is hoped that with more publicity we can attract a wider recognition. The total grant expenditure this year was again in excess of the sum we would ordinarily award (when compared to investment income) because the Trustees took the view to help wherever possible in exceptional circumstances.

A summary of the financial results for the year are detailed in the Statement of Financial Activities on page 7. Overall, net income for the year amounted to £529,087, which includes a significant unrealised gain in the sum of £549,550 on the revaluation of investments, resulting in total reserves increasing from £5,998,367 to £6,527,454 as at 31 March 2022.

At 31 March 2022 cash at bank totalled £103,672 (2021 - £43,493). However, at 31 March 2021 £75,870 (2022 - £nil) was included in other debtors being amounts held in a Shakespeare Martineau client account, to allow for payments to be easily made, at the instruction of the trustees, during the height of the Covid pandemic. After taking account of accrued income and creditors falling due within one year, including grant commitments, the net current assets of the charity at 31 March 2022 were £87,342 (2021 - £107,805).

Reserves policy

All of the Charity’s funds are classified as unrestricted.

The Charity’s free reserves are defined as total funds excluding fixed asset investments. Free reserves at 31 March 2022 amounted to £87,342 (2021 - £107,805). It is the policy of the Trustees to manage the reserves in such a way as to retain and maintain a sufficient sum within free reserves to meet anticipated grant bids at the designated mid-year Trustee meeting and this target has been met.

Fixed assets investment policy

The assets of the Charity are held for charitable purposes within the terms of the governing document. Details of investments are shown in note 8 to the financial statements.

The Statement of Investment Principles is set by the Trustees and reviewed regularly to take account of funding requirements. Investments held by the Charity are held in accordance with the powers conferred by the Trustee Act 2000. The Trustees have appointed CCLA to manage their investments on a discretionary basis and responsibility for investments is delegated to an investment manager.

Investment Principles to be observed by the investment manager

The basic principles governing investment is that capital must be kept intact in real terms and only income may normally be distributed. It is, therefore, inappropriate to invest in very low yielding investments. At 31 March 2022 approximately £5,536,000 was invested in the COIF Ethical Investment Fund and approximately £904,000 in the COIF Property Fund.

The investments in the COIF Ethical Investment Fund are made in accordance with ethical constraints. The Fund has a wide range of ethical restrictions and is advised by an ethical advisory group that assists in the development of the Fund’s ethical investment policy. Investments in companies with unacceptable environmental, social and governance behaviour are avoided. The ethical restrictions are those prioritised by investors and include companies which derive more than 10% of their revenue from alcohol, gambling and tobacco.

The investment manager monitors performance against suitable benchmarks as agreed and reviewed periodically by all the Trustees. The Clerk and Rachael Stembridge closely monitor the performance on a quarterly basis and monthly investment reports are circulated to all Trustees. A representative of

• 3 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

the investment manager attends one of the regular meetings of the Trustees each year, normally in the autumn.

The ongoing fundamental principle is to have a medium/low risk strategy of investing prudently and cautiously in a broad range of investments. Surplus cash will be invested in banks or other financial institutions offering competitive market interest rates for Charity investment. The actual returns achieved this year are above the target annual investment return of £180,000, available to spend on grants commitments.

Risk management

The main risk to the Charity lies in the combination of uncertain investment markets and volatility in yield. The Charity manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges. Furthermore, regular communication is maintained between the advisors and the Trustees.

The Trustees have reviewed all the major risks faced by the Charity and procedures have been established to manage those risks.

PLANS FOR FUTURE PERIODS

As a mental health Charity, the Trustees are conscious of the profound impact of the COVID-19 pandemic on mental health. Fortunately, there is now greater awareness of the increasingly complex mental health issues in society through the media. We continue to endeavour to strengthen our links with and understanding of the challenges facing the provision of mental health services in Leicester, Leicestershire and Rutland. In this way the Trustees will be as prepared as possible to respond positively to bids received which fall within the purpose of the Charity such that people get the best possible support from a range of services.

We have plans to refresh and upgrade our website which should hopefully encourage an increase in the number of bids from as wide a spectrum as possible and will enable us to support emerging needs. This will include a simplification of the application process, including the number of different application forms and clearer guidance to applicants of the level of detail contained in the bids required by the Trustees to enable them to reach their decisions without requesting further information. Furthermore, as part of good governance, the Trustees have commenced a detailed review of the key policies and procedures that are in place to ensure they are robust, relevant and up to date.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is a registered Charity and is governed by Schemes of the Charity Commission dated 1907, 1951, 1973 and 2014 as amended by resolutions dated 12 October 2012 and 20 March 2013. Following the resolution dated 20 March 2013 the Charity is now known as The Carlton Hayes Mental Health Charity.

Appointment of Trustees

The Trustees who served during the year and up to the date of this report are set out on page 1.

As amended by a resolution dated 12 October 2012, the body of the Trustees will consist of six competent persons nominated and appointed in consultation with the NHS and the local authorities of the City of Leicester and the Counties of Leicestershire and Rutland. Elected Trustee members will be appointed for an initial period of four years in each case.

In addition, up to four additional Trustees can be co-opted by the body of Trustees to expand upon and capitalise on a wider knowledge of the body of Trustees. Co-opted Trustees will be appointed for an initial period of three years in each case. We are actively seeking to recruit Trustees currently working within the mental health sphere, whether in the NHS or voluntary sector.

• 4 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

Trustee recruitment, induction and training

New Trustees are generally chosen from appropriate backgrounds such that they possess relevant knowledge on the publicly funded and voluntary mental health sectors whilst contributing to the diversity of the Board members. On appointment, new Trustees are briefed about the Charity, their role within the Charity and knowledge of the governing document. The Trustees also periodically review the need for any training requirements throughout the organisation.

Organisation structure

The administration of the Charity is undertaken by the Clerk to the Trustees. The work of Helen Pole (of Shakespeare Martineau LLP) formerly Mark Dunkley, is recognised by the Trustees as a key element in enabling them to perform effectively on behalf of the Charity and these accounts provide the opportunity to thank them both for their commitment and support.

The Trustees ordinarily meet three times a year to consider and award grant applications, to review the value for money for the charity’s administrative support costs, to review the management of the Charity and the funds held by the charity. Additional meetings are held if the Trustees consider it necessary.

This report was approved by the Board of Trustees on 9 December 2022 and signed on its behalf by:

Mr M K Dunkley - Chairman of Trustees

• 5 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE CARLTON HAYES MENTAL HEALTH CHARITY

I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2022 which are set out on pages 7 to 14.

Responsibilities and basis of report

As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102 in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. Accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

2. The accounts do not accord with those records; or

3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

CJ Castleman FCA (Independent Examiner) Newby Castleman LLP Chartered Accountants West Walk Building 110 Regent Road Leicester, LE1 7LT

Date: 9 December 2022

• 6 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

		2022	2021
Income from:	Note	£	£
Investments	3	196,805	191,593
		��������	��������
Total		196,805	191,593
		��������	��������
Expenditure on:
Charitable activities	4	217,268	244,640
		��������	��������
Total		217,268	244,640
		��������	��������
Net gains on investments	8	549,550	836,600
		��������	��������
Net income/Net movements in funds		529,087	783,553
Reconciliation of funds:
Total funds brought forward		5,998,367	5,214,814
		��������	��������
Total funds carried forward		6,527,454	5,998,367
		��������	��������

All income and expenditure derive from continuing activities.

All funds are unrestricted.

• 7 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

BALANCE SHEET AS AT 31 MARCH 2022

			2022		2021
	Note	£	£	£	£
Fixed assets:
Investments	8		6,440,112		5,890,562
Current assets:
Debtors	9	50,200		125,697
Cash at bank and in hand		103,672		43,493
		�������		�������
		153,872		169,190
Liabilities:
Creditors: amounts falling due within	10	66, 530		61,385
one year		�������		�������
Net current assets			87,342		107,805
			��������		��������
Total net assets			6,527,454		5,998,367
			��������		��������
The funds of the charity
Unrestricted funds			6,527,454		5,998,367
			��������		��������

The notes on pages 9 to 14 form part of these financial statements.

The financial statements were approved and authorised for issue by the Board of Trustees on

9 December 2022 and signed on its behalf by:

Mr M K Dunkley

Chairman of Trustees

• 8 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting policies

Charity information

The Carlton Hayes Mental Health Charity is governed by a Scheme of the Charity Commission.

1.1

Basis of preparation

The Charity constitutes a public benefit entity as defined by FRS 102. These financial statements have been prepared in accordance: with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Accounting and Reporting by Charities: Statement of Recommended Practice for Charities applying FRS 102 (2019), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 (2019) rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of investments. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for any other purposes.

1.4

Income recognition

Investment income is earned through holding assets for investment purposes. It comprises dividend income and is recognised on an accruals basis.

1.5 Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Irrecoverable VAT is charged against the category of resources expensed for which it was incurred.

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities for its beneficiaries.

• 9 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

1. Accounting policies (continued)

1.5 Expenditure recognition (continued)

Unconditional grants awarded are recognised as liabilities in the financial statements when the award of the grant has been communicated to the recipient. The communication gives the recipient reasonable expectation that they will receive the grant. The full amount is recognised for multi-year grants unless conditions of substance apply to payments falling due after the reporting date.

Grant payments are made to recipients retrospectively which is ordinarily when invoiced by the recipient and when supporting evidence of costs incurred have been provided. Grants which have not been invoiced after a period of twelve months are normally cancelled and derecognised in the financial statements unless otherwise agreed.

1.6 Support costs

Support costs are those overhead costs not directly incurred in the delivery of the Charity’s objectives and include governance costs. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity.

1.7 Investments

Fixed asset investments are initially recognised at their transaction value and subsequently measured at fair value at the balance sheet date. Holdings in the COIF Charities Ethical Investment Fund and the COIF Charity Property Fund are valued either using mid-market prices or alternatively based on the net asset value of a unit.

The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Investment management costs are deducted from capital because it is not practicable to ascertain the actual costs charged.

1.8 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9 Financial instruments

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

1.10 Taxation

The Charity is a Registered Charity and thus exempt from taxation on its income and capital gains to the extent that these are applied to its charitable objects.

• 10 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

2. Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The Trustees do not consider there to be any key sources of estimates or uncertainty that have a significant effect on the amounts recognised in the financial statements.

3.	Income from investments
		2022	2021
		£	£
	Dividends from COIF Charity Funds	196,805	191,593
		������	������
		196,805	191,593
		������	������
4.	Expenditure on Charitable activities
		2022	2021
		£	£
	Grant giving (note 5)	198,781	226,870
	Support costs (note 6)	18,487	17,770
		������	������
		217,268	244,640
		������	������

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THE CARLTON HAYES MENTAL HEALTH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5. Grant giving

Grants awarded during the year to institutions providing care and support to people with mental illness are analysed below:

mental illness are analysed below:
	2022	2021
	£	£
Accept	2,500	-
Adhar Project	4,800	-
Advance Housing and Support Limited (Melton and Hinckley)	3,748	4,470
Ananda9 Limited	25,000	9,900
Centre for Fun & Families Limited (CFF)	-	10,000
Charnwood Arts	2,728	-
Enrych	4,000	-
First Step	9,245	-
Helping Hands Community Trust	2,900	-
Home-Start South Leics	4,600	-
Leicester Charity Link – (helping vulnerable people)	-	70,000
Leicester Children’s Hospital School	2,000	2,400
Leicester LGBT Centre	10,000	-
Leicester Musical Memory Box	15,000	-
Leicestershire Action for Mental Health Project (LAMP)	-	20,000
Little Bird SOS	12,000	16,000
Peter Le Marchant Trust	-	3,000
Raising Health – Leicestershire & Rutland’s Community
and Mental Health Charity	55,000	55,000
Schizophrenic Support Group	2,560	-
Shelter Housing Advice and Research Project (SHARP)	18,000	-
The Spark Arts for Children	-	3,000
The Bridge Homelessness to Hope	15,000	23,305
The Quetzal Project	4,700	4,880
Twenty-Twenty	5,000	-
You in Mind	-	4,915
	�������	�������
	198,781	226,870
	�������	�������
Grants reconciliation
Grant creditor at 1 April 2021	53,285	25,200
Grants approved during the year	198,781	226,870
Grants cancelled during the year	-	-
Grants paid during the year	(194,236)	(198,785)
	�������	�������
Grant creditor at 31 March 2022 (note 10)	57,830	53,285
	�������	�������

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THE CARLTON HAYES MENTAL HEALTH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

6.	Support costs	2022	2021
		£	£
	Clerk’s administration fees	14,484	14,400
	Bank charges	103	70
	Independent Examiner’s fees	3,900	3,300
		������	������
		18,487	17,770
		������	������

All support costs have been allocated to grant making activities.

Support costs include governance costs totalling £3,900 (2021 - £3,300) which are associated with meeting the constitutional and statutory requirements of the charity and include independent examiner’s fees.

7. Trustees and employees

No remuneration or expenses were paid to Trustees in the year (2021 - £nil).

There were no staff costs during the year.

8. Fixed asset investments

Fixed asset investments
	2022	2021
	£	£
Listed investments in unit trusts:
Fair value at 1 April 2021	5,890,562	5,053,962
Additions	-	-
Disposals	-	-
Gains on revaluation	549,550	836,600
	��������	��������
Fair value at 31 March 2022	6,440,112	5,890,562
	��������	��������
Historic cost at 31 March 2022	5,182,740	5,182,740
	��������	��������
At 31 March 2022 investments in unit trusts were made up as follows:
	%	%
COIF Charities Ethical Investment Fund	86	87
COIF Charities Property Fund	14	13

At 31 March 2022, 64% of the investments in the COIF Charities Ethical Investment Fund were held in overseas equities (2021: 67%).

• 13 -

THE CARLTON HAYES MENTAL HEALTH CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

9. Debtors

Debtors
	2022	2021
	£	£
Accrued income	50,200	49,827
Other debtors	-	75,870
	�������	�������
	50,200	125,697
	�������	�������
Creditors: amounts falling due within one year
	2022	2021
	£	£
Trade creditors	4,800	4,800
Grant creditors (note 5)	57,830	53,285
Accruals	3,900	3,300
	�������	�������
	66,530	61,385
	�������	�������

10. Creditors: amounts falling due within one year

11. Related party transactions

There were no related party transactions during the year that require disclosure.

Last year, Ms M Bradley was a Trustee at the Children’s Hospital School Leicester which was awarded a grant in the sum of £2,400.

Ms M Bradley declared her interest prior to the consideration of the application for funding and did not take part in any voting by the Trustees on the bid.

Ms M Bradley resigned as a Trustee in October 2021, therefore the grant awarded to the Children’s Hospital School Leicester during the year is not a related party transaction.

12. Controlling party

Control of the Charity rests ultimately with the Board of Trustees.

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