Huddeysfleid War erThlat Trust Trus5. repxrt and accounts Report of the trustees The Trustee5 present ts rep)rt and accounts ftx the year ¢1 31 Dember 2024. C(tItutIan TheTrust 15 conslituted by a DEClaratn of Trusts dated 9 May 1922. a5 m17fIed on 15 4KII 1957. The Trust is reg15tered the Charity CommNKm (registered rKmLr 22CQ161. Trustees Changes to the Tnjstees durirrf4 the year are noted page 2. R•vlew of the year The Trustees continue to monitor gwral state of the War Mernodal surround5 in Greenhead Park, Huddersfidd and appredate the considerable a5Si5tance provwjed ty Kirklee5 Metropolitan Councll in this resFect. The Trustees report an k)crea5e in from investments of £1,728 from £34,112 to £35.840. Bank interest increased from £411 to £583, to gfvè total incc¥ne for the year of £36,423. The Tnjstees approved totsl paynt5 madè to tnefitlng charitlesof £34,500{213'. £32,5CQI resulting in an Income for year of £1.739 compared to an IrKc¥ne of £2.023 In 2023. The grants pald during the year were arprrw•J ty the Trt$ at a meetlng held in Apdl 2024 and paymèrtts were issued in same fnth. The b4[ae at the bank at 31 DecerTthr 2024 increased from £38,762 to £40,9)1. R•v•lu•tfon of Inv•strn•nts Charffund's secoThJ.half dIstsltlOns amcJnted to 52.Op. brfnng the total paYrt for the year endln@ 31 October 2024 to 90.Op. This represents an Incre of 5.3% on the 85.5p distributed in 2023. Th15 compa5 with RPI inflatlon of 3.4% In t(thr 20Z4. Turnlng to perfomiance, Charifund made rotyjst athances in absolute terms over the 12 months to 31 October 2024, aiihough it wa5 behind the FfsE All-share Index. The high y7eld sertlon of the ltY market. lagged lower yieldlng equltles over the pemd. Charifund has lag8ed the broader market over the lor@er term. This relative underperformance reflects a challeng5ng year in 2023, the impact of the pandemlc on hlgh yleld tIeS In 2020 and relatlve underperformarKe In 2016 and 2017. Thls reLatlNf perforniance Is dlsappx)lTrtSngi but we are ConvIe that wr (u5 on attrartively valued, hlgh-yleidlng shJres In good quallty, finwKlally souThl cwanies, in tum growiNJ the Irne and prwThlng capltal, wlll serye investOf5 11 over the lonser twm, as It has In the past. Agalnst the IA Ilnvestment Assc(lationl UK Equity Ir(e 5e¢tor average, fund h urthFrfomwl In the strKSrt temi but Is ahead over 10 years (Source: M&G aThY Morn1star). Prowls for iOrne.0nented sha$ look positive to us, with the market continuing to offer atirxtive divldend ylelds. Tr UK remains one of the hlghe5t dlvidend yleldlry markets on offer wlth many multItIonal cc¥rpanle5 in Secto exFeCted to beneflt stabilizlng Interest rates and 5tror& demarnl, provldlng reliable IrKome streams for Investors. Flrther to thls, M&A actlvlty clinUeS to be a W feature of the UK marker, in our serves as a stron8 Indlcator that the UK Is underyald. RerveS Polky The pollcy of the Trustees kn each year 15 to dlstrfbute SLtJstantially the vthote of the reali5ed in¢¢me to the Lrnefiting charities after t&kng Into accolmt ffj expenditure required in relath)n to the War PAemorial, while retalnlng capital furKJ5 in ordpr to pe a slmllar and continuing level of fncome In the future. Annual General Meetlr The annual accounts for the year eThJed 31 DeCber 2024 ¥11 te cortsldèred at the Annual General MeÉln8 to be held cm 15 Apr 2025. Signed on alf the lntee5 rmitaio Chdlrman ¢7nd Trust MAlohr ret¢¥y Trustee 15 Apr 2024
Hudtstsfleld War Mernortol Trust Fund Trustee5' repxt and accounts Statement rf trustees. re5w51bllftl•s In re5Pert of the xcounts Law appllcable to charities In EnOaTMI and wal requires the tnJ5tee5 to prepa flnaKial 5tatemert5 for each finaTKo1 year whlch give a and fair view of the state of affalrs of the charity at the eNI of thè year and of its financial )VitIeS during the year then eth. In prq)aring tkJ5e fInala1 statements, the trustees are required to: select gjitable accounting polkles aTrJ apply them consistently; make Judgements aNI estimates tt are reasonable and prudent. state whether applicable acCOting standards and statements of recommeTrJed practlce have been followed, subject to any materlal (*arture5 disclosed and explaine¢J in the financlal 5tatemeTrts', prepare the finarKlal statement5 011 the going ccKKern basis leSS it Is Inappropriate to presume that the charlty will contlrwe In operatlon. tnjstees are responsible for keeping aOUntIng records kh disc105e wlth reasonable accura the flnancial posltlon of t1 charity and vthich enable them to ensure that the finarfial statements comply wlth the Charitle5 Act 1993. They have 8enerdl responsibility for taklng SLKh steps as they are reasonably open to them to safeguard the assets of charity and to prevent and detKt fraLwJ and other Irregularlties.
Huddtrsfleld Wor Mmort¥l Trust Fuod Trustees. repJt and accounts Income and Expenditure Account Staternent of flnanclal activlties for the year ended 31 Oecember 2024 Note 2024 2023 lft¢ome Income from In%%stments 8at41 Interest 35.J40 583 34,112 411 36.423 34.523 Grants Grants pald Other payment5 134.Sfy)> 1184) 132,5001 N•t Incom• Ilthficftl b•for• r•vaiu•tlons •nd dhP1 of Inv•$nts 1.739 2.023 Inv•rtm•nts- unr••lld r•valuWons 15,391 17,699) N•t mov•mont In luTrth 17,330 645.230 15,6761 650,905 Fund5 brouth¢ fefward Funth rrI•d lorward 662.560 645.229 Of whl¢h.. InveStml rewBluotlth) Other 572.397 90.163 596,805 88.424 661,560 649,229
HdsfIeld War Memorfal Trust Fund Trustees. rewt and accounts Balance Sheet ot 31 December 2024 Ntste 2024 2023 Flxed •ss•ts InvestrlS 611,059 606,467 C45h Ind d•poslts HS8C 40.501 38.762 t •M•t¥ 662.560 645.2Z9 Funds Investments revaiuatlL reserve Other reser¥w'. onIng balance Arisln8 kn s*ar 572.397 556,805 88.424 1,739 90.163 2.024 ilJ,414 662.560 645,229 The aCCnts were approved by the tntee3 on 15 Apr 2025 aNI were slgned M thelr behalf by: S Al ArrnltaB• Chalrman and Trustee A Al Mohr Secrvtory tYKI Trust
HudthSfid War Memwlal Trurt Fund Trustees, rewrt and aount5 Note5 to the accounts AcCotin9 policl•s 84sls of preparation The accounts have been prepared on the receipts and PaYts basls, under the hlstorical cost convention, as nlfIed by the revaluatlon of investments, aTrJ in accordance wlth the Statement of Recommended Practice12CQ51 °ACCntIng and Reporting by Chbritles". Use of the trust fund Under the temis of a Dectaration of Trust dated 9 May 1922, as amended by resolution passed at Special Meetlng held on 15 Aprfjl 1957. the Trustee5 are required to hold the Trust Fund and all Income arising therefrom up)n Trust. and to apply the Iorne for the repalr and maintenance of the War Memrial In Greenhead Park, Hudder5fleld. for the nefit of person5 in r(51t0us clrcumstances who are or have been membw5 of the Forcès and are resident in Huddersfleld or Its wclnlty or for the beneflt ol any home or Instltution for the sick. pcrt)r and needy withln a radlus of ZO miles from Huddersfleld Town Hall. InvMtments IA¥lÉ•t Valu• 31.12.24 31.12.2J XJ24 Incom• 2023 Incom• d•r Ft G The Ewltfes InvestrMTht Fund lor Charltle5 37,875 In¢cne unlts (see rK)tel 1.469.52p12021: 1,556.ZOpl 33.3W 557.673 J43.XlJ 32,383 Charltles Cflclal Inve5tff¢ni Fd 2,940.68 Incomè shares 232.05 IrKOr shaY•s 15.OIZ 59.676 1.190 4,709 58,357 4.605 1.624 1,602 126 49.662 022.05• 606.467 35.840 34.111 Mov•m•nt In Y•ar IThEms•1ld•¢r•l £15.591 {£7.6991 Total market vaiut at 31 December In the twelve year5 to 31 11•mt)ef 214 w•sas foliu. 311)ecembpr 2013 573,191 31 December 2014 574.565 31 December 2015 573.438 31 Qecember 2016 615,025 31 Drfember 2017 658.854 31 Decernbw 2018 584,806 31 December 2019 682.578 31 Decerthr 2020 576.895 311)ectmbe¥ 2021 654,571 31 Decernber 202Z 614,166 31 Prfernber 2023 f4J6.467 31 Oe¢ember 2024 62Z.058
HIderSt7 War Memorlai Trust Fnd Tru5tees' repcrt and account5 Notes to the accounts (continuedl Investmnts {continuedl DistTitrt{0n5 per unit have iwi as follov45 in the last ten yea13: . arterly d15trfhrtlot 2023 2024 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 90.C 85.50p 83.0 74.P 67.(Klp 83.ojp 79.CKJP 74.75p 71.OOp 69.eop 06.50p Quarter 1 13.50 24.50 5,113.14 9,279.41 7.764.40 l3.¢JO 24.fy) 20.50 4,923.77 9.090.03 7.764.40 31.xl 90.00 34.017.62 85.5Q 32,383.24 Grants 2024 2023 uddersfleld and D15trtct Irry Veterans. A850dat Royal 8rltlsh LeWcffj Soldlers, Salk¢s' and AIrn'S Famlll•s Ass¢¢l•t Klrkw¢xd Pl)SCe Macrnlllan Cancer Suppcrt Huddersfleld Samarltan5 West Ycfkshlre For8¢ 14rt Tw Hdly eaTrk Trus¢ 11,500 10,000 2.500 3,000 2.000 1.500 3.000 1,000 11,500 10.oc 2,500 2,000 2,000 1.500 2,OC 1.000 34,5f 32.500 IXh•r payments 1WJraes f84