REGISTERED CHARITY NUMBER.. 220331 Report of the Trustee5 xnd FitLllncial Statenjénts for the Period 7 September 2023 to 4 September 2024 for Hull Trinity Hfju Chxrity Harris Lacey and Swain Charteied Aecounianis and Statutory Auditors Suiie I Tht Riv¢rsid¢ Building Htssle East I'orkshire HU130DZ
Hull Trinity House Charity CoDtents of the Financial Siltemtllts for the Period 7 Septtmber 2023 to 4 September 2024 Page Report of the TrSIteS Report Df the Independent Auditors 7 to 10 Statement of Financial Activitie5 St#iemtnt of FiThancial Position Stattmtnt of Cash Flow5 Notes to the Statement of Cash Flows 14 Notes to the Finaneial StalementS 15 10 ?5 Detailed Statement of Financi21 Activities 26 10 27
Hull Trinity HDUSt Charity Report of the Trustees for the Period 7 September 2023 to 4 September 2024 The irustees preseni ih¢ir report w'ith th¢ rjnancial siai¢tnents of the tharil) foi the peri(Trd 7 September 2023 to 4 Sepiember ?024. The irust¢¢s hav¢ adopted the provisions of Accounting and Rcportiiig b}" Charities.. Siaiemeni of Rceommendcd Praciice applicable io chariii¢5 preparing their accounts in accordance iviih the Financial Reporting Standard applicable in the UK and Republic of Ir¢land IFRS 1021 l¢ff¢cliv¢ l January 20191. OBJECTIVES AND ACTIVITIES Objetlives and aims 'he 'frusiCCS conlimi thai thefv have complied with the duty specili¢d in the Chariii¢s Aci 2011 to have due rtgaid to Ihe publie benefit guidance publsshed by the Charity Cotntnission. Th¢ objects of the Charity. for the publit benefit. as Set oul in Ihc schemt are:_ Hull Trinity Houst Charity 11 i-rhe Felierofptrsons %sho are in nted, hardship or distress. lal The Trustec5 may relieve siich persons in need bv'.- lil making grants of money to them-. or lill prLividing 01 paying for goods. services or facilities for Ihem.. or liiil Tnaking grants of rnone). 10 Other p¢rsons or bodies who provide good& services or facilities to those in n¢¢d". or liTrl SULh other as the trusitis Ihink fil. 121.fhe PTovision of housiiig a¢¢ommodation for such persons. 131 In 5¢1¢ctiiig b¢n¢fiLiaTies under sub Llauses I I l and 121 abovt. the Trusiets musl give pr¢feT¢nc¢.' lal fir511y tu brethren. seafarcrs. their spoiises aiid dependanis aiid spouses and dependants ot d¢c¢&%ed %¢afJr¢rs'. and Ibl 5econdlv lo other persons who are er 60 of agc. 141 SuLh LhJtiiable purposes for the bencfii of residenis as the Trustees decide. iil.fo further the objects of thc charil) kThtsn as the Hull Triniiy House Academy. 161 In the interests of social Il'elfare. to improve Ihe condiiions of lite for young p¢r5ons withoui distinction of polilic21. religiou5 or other opinivns by iht provjsion of lacilities for training. recreational and l¢isur-time activity in sailing and other water 5POrts. Hull TrKnity" House AcAdemy The objeci olthe charit), is ihe provision of iiems. 5eri'ic¢s and (acilitie5 for the ALadem>. Hull Trinity House Acxdemy Prize Fund 111 The objtci of the charity is to furLhtt the educaiion of pupils attending the Acadeffly by the awtsrd of prizes lor oihci suitablt rtivardl. 121 The prizes musi be awardtd on the reconendatIon o(the Acadetnv PrinLipal. The Trustees carry out ihcse objecis b.: providing financial grants on a quarterly basis.. providing housing at the Resi Homes.. providing finatjcial and oihtr 5UPWrt to Hull Triniiv Huuse Acadetny". and providing an edueaiional faciliN ai Welton Il'alers Adventure C¢ntr¢ The Trustees established these polici¢s 10 achieve the charitv's objects for ih¢ public benefit to improve the lives of p¢rsons who aT¢ in netd. hardship or disiress and as a meaiis ot- assisting the Ilull I'rinity Flause Acaderny. PeTSons in need are inviled 10 apply for the financial grants or housing and ar¢ award¢d ih¢tn. or noL based on the Criteria sei by the truste¢s. The Trusie¢s hold a regard to CCICCNI Guidance in relation lo public b¢n¢fit. Recruitment and xppoi]Jtmtnt of new trustees The Truste¢5 have b¢¢n appointed in accordance with the Chariry's Articles of Association. an. skills area$ are #ss¢ssed annually. and il is greatly valuLd thai our Trusitts art an important, integral parE of our Charst Page I
Hull Trinity House Charity Report of the Trustees for the Period 7 September 2023 to 4 September 2024 ACHIEvE]ENT AND PERFORMANCE Athievemellcs and Performan¢e Al 4ih Sepieinber 2024 graiiis w¢r¢ being paid to 33612023.. 3631 ietired fflariners or the dcpendanis. The number of residL'nis In the R¢51 Homes ai Ihe same lime wa5 70 12023- 701 Nautical Charities are noiicirtg a reduction in berteficiaries due to th¢ coniraciioll in Inariitine services 0er th¢ past lour to fIe detade5. Followirtg the scheme daied 4ih November 2010. the Trust¢e5 ar¢ abl¢ lo off¢r relief lo persons who are noi from a seafaring background. M'hich has boosied occupancy in the R¢sl Hotnes. The fulure of IhL unoeeupied rlIa[ properties is not h¢lp¢d by th¢ CUTr¢nt eLonomic climate and Qeneial deLline in retailing nalionallj. Also it is I'cli that Hull has 100 manv rtiailing o>utlets for 115 5iz¢. In this y¢ar though, there has b¢¢n all incTe8se in the number of enquirits about ihe empty prDp¢rties and 5orn¢ ienants have rtnewed theiT lease It 15 f¢lt thai should our aims and objeeiives all get meL we would coniinue to striv¢ towards hat th¢ Charity was sei out to achieve upon iegistraiiort. Success for our aim5 and objectives is measured by the continuous occupaiion of our rest home5, th¢ ability to iontiiiuiiig giving grant5 lo ihose who tequite them rnosi and iht abiliiy to lunher Hull's development and cul¢ur¢. Reserve Funds are *5 follows- Endowment Fund Restricted fund5 Pril¢ funds and bequests Unre5tri¢ted fund$ ReseTh'e fund Rest Ilomes fund ProFKTty repair fund 23,623,323 180,350 6.677.414 3.885.305 7.704.258 42.070.652 Grants rtceivablt During thc 52 WLckb ended 4th S¢ptemb¢r 2024 ihe Charit). has received grants from Hull cl Council r¢laiing to Ihe Humber High Street Challeng¢ Fund and the Higli Str¢¢l Heritage Action Zone Fiind. These grants art 10 assi51 with ihe Ivorks being c8Jried oui on various prop¢rtie5 throughout the Ferres Estate. The Tnisiees again wish to express their gratitud¢ to Hull City Council for their generous suppon. Risk mlnagement The Trustets idcntify. and review ihe risks 10 which th¢ charity is exposed and 10 ensure appropriaic conirols are in place 10 provide reasonable suranC¢ agaiD5t fraud and e0[. Page 2
Hull Trinity HousÈ Chxrity Report of the Tru$tee$ for the Period 7 September 2023 to 4 September 2024 FINANCIAL REVIEW Fingncial position The 'frustees have ViCLd the restrvts of Ihc eharity. Reserve5 are needed to maintain ihe Resi Flom¢s. proi'ide granrs tor lh¢ tired mariners and Iheii dependanis, proieci and maintain the income producillg propert1¢5 and to support th¢ Hull Trinity House Ac2deEny. Expcnditur¢ on tnainwining PTQP¢rti¢s is high partitularlv as most of the properties are listtd buildiiigs. Empty PTQP¢rties still need tnainlaining to som¢ extent. Consequently, (he reserves are kept ar a high level although thi5 IS hawing no itnpaa on the ben¢ticiari¢5. The siirplus of incom¢ over ¢xp¢ndilure has b¢¢n credil¢d lo th¢ r¢serN'¢$ in the followinE tatio-.- Reser¢ Fund 40/ Rest Homes Fund 20Qh Propcrty Repair Funds 40V/D Thc investment objective thai th¢ Investment Managers have lo tollow is that of achieving a balance beiwetn income and capital growth. There were no re[l¢tiOnS concerning counui¢5 or commercial artivilies that had to be Lonsidered. The pcrformanct of ihe funds is reviewed on a monthly basis and ts*i¢¢ a jear the lrtvestmeni Managers allend the Hull Trirtiri Hous¢ and reports on th¢ previous six month5. The market Yalue of Ihe inN'tMentS has increased during th¢ past )'ear. Tli¢ Trustees ate satisfied with the level of irtvtsimeni income aehiei'ed recognising lis coutribuiion lo th¢ total overall incoine The value of the quoted inv¢stin¢iits incr¢a5¢d by £837.127 10 £9.518.?15. The commercial properties have been rtvalucd ai Ihl sear end. Increasing Jn Traliie b}. £4.305,OW to £24.795.IIIMI. l-his illCTease includes a farm addition of £3.785.WO as High BOn.1¢k Farm wa5 added to ih¢ agriLuliural pruperties portltilio. All farnis wcrc rcvalued at Ihc period end by Cundalls. the agricultural agents. There was also an increase 01£600.000 in the value of Irtthold land and buildings used by th¢ charity, INhich was noi¥ valued al £4,825,000 Cvmpartd to £4.225,(XJO in 2023. Renial income increased compared lo the previous lear. There a IgL increase in investment income as stock markcis pcrformed ivell. Expellditurt on granis incr¢as¢d 51ighil}' 2$ the quarterly grani amoiint increased 10 £221 per quaner. The number ot grant recipients however. decTeased again In Ihc vcdr. The Welion Il'aiers Adventure Cenirt conitnued io provide a valuable ¢du¢aiional resource for local schools, Lollcgc& busiiicsses and charities as ivell as for m¢mber> of th¢ public. The Corporation of th¢ Trinity Hous¢ in King$ion uport Hull contribuied the sum of £16.755 iowards the upkeep of Trinity Hous¢, a higher fJgur¢ than 2023. The level ol reserves ai Ihe ¢nd of ihe perivd Thas £42.070.6i2. of hch £18.266.979 is unresiricied and is classed as our Ir¢e reserves. Tlie remaining £23.803.673 15 r¢stricl¢d and is split £180,350 and £23,623,323 as Prize Funds and Endowment Funds r¢sptcliv¢ly. Page 3
Hull Trinity House Cbarity Report of tht Trustees for th¢ Period 7 September 2023 10 4 Septernbtr 2024 STRUCTLIRE, GOVERNANCE AND MANAGEMENT Coverning dotumetht I'he Charitv is govemLd bj three sehemts which '¢re sealed by the Charl. Commi55ion on 7th October 2005 and atnend¢d on 4th NovembeT 2010. The Trusites Board consists of lloi Itss than 10 aad not tnore than 20 Trtte5. Th¢ firs1 Trusl¢¢s iieTe listed in the Scheme documents and Ihose Trusiees are responsible tor appointing n¢I4' Tru5tee5. Th¢ maxirnutn p¢riod a Trusiee Lan sere is 4 vears bui Ihev ma} pui themsel¢S totivard tor re-appoinimeni. The 'I'rust¢e5 Ineet Trerj fL'Eularl)', on ai'etagt more than oncc each month as the business dictate5. There are SeTr¢Tal advi50Tr' comtnitlees each LUtigislinE of Ihree Members ol Iht Board of Trustees. These committ¢es proft¢r advi¢¢ bui all decision5 arc taken by the full Board. The implemeiiration of those dectsion5 is delegated io the SiereiaTr and his staff. Certain 1¢s"¢ls of ¢xp¢ndilui¢ Can be allihorised bj Ihe SecreiaTr and the Estates Manager as deiailed in th¢ Financial Procedures. The Board keeps th¢ skill requiTetnents for the Trusiee body undtr rtview. and in the event Ihal a ne%4. Trusiee is appointed an iiiduction pack 15 Prolded. Thi5 contains docutnents such as the Charitv's sehemts, lait reports and account5. Minutes of recent trust¢¢ tne¢ling5 and the Charit> Commission booklet "The Esseniial Truste¢.' whai vou need 10 knoii" and "Chariiies and Public Benefii" A n¢w Tru51¢e meets %vith the Secieiapj, h0 explains hoi¥ the charity operdles. its finances. investinenls. Ihe pow¢rs and r¢spon5ibilities of the Board vf TTusiees and tht use of the advisor> commiit¢¢& Bv sitting in on cornrDittee and Board meetings a new Trusiee soon amasses the knowledge ntLtssarv 10 contribute lo th¢ cliarity.. All Trustees give of their lime freel¥ and no Trust¢¢ r¢mun¢ralion is paid. DelIS of Trustee expenses are dtsclosed in the aeeounis. Trusiees are required lo disclos¢ all r¢levanl intere41 and regisieT them iliih thc Sccreiary and. in accordance wilh the charity's policy. would have io withdraw frorn any decision where a conflict of inieresi arose. Risk mAnigement The Trusiees havt carried out an ¢Y¢rci5¢ to identify the tnajor risks faLing the Charity's operaiions and confirni ihat they are sarisfied that s)'stem5 eX151101¢5%n exposure to those risks. Those risks are.. loss of ditninuiion in valu¢ of propertv assets - mark¢i valu¢ of quoted investsnents and income therefiom markti valu¢ of commercial PTOP¢rties and incotne theiefrom markei value orrreehold land and building5 and inLome therefrom Page 4
Hull Trinity House Charity Report of the Trustees for the Period 7 September 2023 to 4 September 2014 REFERENC£ AND ADMINISTRATIVE DETAILS Addres5 Trinity House Lane Hull HUI 2JG The Tru$tet$ are: Captain C Adams Captain D H Atkin Captain J D Coggin, B.Sc. IHonsl, B.A. Captain P J Com'ing Captain S L Gatnble Captain R J Hancock Captain M E Kelly Captsin G J Rawding Cuptain l D Robinson Captsin D M Sha. Captain J Tindall Caprain C C W Towne Captain P A Watt5 Secret¥ry Mr P Shearsmiih Bxrjkers Barclays BÈnk PLC 1 5 King EdwaTd Street Hull HUI 3RL Solicitory Bridge McFarland Solicttors 19 South Si. MaTh'b Gate Ciritnsbv DN31 IJE Investment Advisors SG Klcinwort Hambros Bank Limiied Sih Floor. 8 St. James's SquarL London SWIY4JU Auditors Harris Lacc). and Sivain Chartered Accountaiits and Registered Auditors Suite l. Thc RiNersidc Building Hessle HU13 ODZ Page i
Hull Trinity House Charity Report of the Tru5te¢5 for the Ptriod 7 September 2023 to 4 September 2024 TRL'STEES. RESPONSIBILITY STATEMENT The Triisi¢es are r¢quir¢d by chariry la%v lo prepare financial staiemcnis for each financial year, w'hich give a true and fair view of th¢ stale of aft'airs of the Lharity 2nd of Ihe surplus or dtficii of the charity as at the end of the financial y¢ar. The Trustees confirrn Ihal suitabl¢ accounting policies hai'e been used and applied eonsisienily, and reasonable and prudcnijudgemenis and estirnaies hai't been mad¢ in the pr¢paralion ot. the tinancial staietnLnlS lor thi 52 wteks cnd¢d 6th Scpiember 2023. Th¢ Trustees also Conti thai appliLable accouniin8 si8ndards have been follom'ed aiid that Ihe rjnancial siaiements have been pr¢par¢d on the going concern hasis. In preparing Ihese accounts, Ihe Trustees ar¢ required ¢0 obs¢rs'¢ the methods and principles in the Accouniing and Reporting by Chariiies.. Statement of recommended practice applicable to charities preparing their accounts in accordanee with the Financial R¢porting Standard applicable in the UK and Republic of Ii¢land IFRS 1021. -rh¢'l-ni%lee5 are reqiiired to act in aceordance ii'iih the Schemes approv&J bj th¢ Lharity Comrni5sion¢r5 and within the ti?mtwork of ITUSI law. Thev are responsible for keeping proptr accounting r¢¢oTd& "hICh dibLluse with reasonable ac¢uracy ai arty time tht lirtClaI posiilon ol. the Hull Trinity I lou% Charit! and lo enablc Ihern to trtsure that the tinancial statemints compl¥ with ihc Charities A 2011. They are also r¢5ponsible for safeguarding the asseis of the Flull Trinil}' House Charity and hence for thking reasot)able steps for the prevention and detection of fraud and other Approved by order ofthe board of trustees on d signed on ils behalf bv.. Cc Captain CCW Towne Captain obinson Page 6
Report of tht Independtnt Auditors to the Tru5tee5 or Hull Trinity House Charity Opinion I'e have audited lh¢ financial stsiernent5 of Hull Trinity House Charitj (the 'chariry'l for the period endtd 4 S¢pteniber ?024 1¢ comprise the Siat¢m¢nt of Finanrial ActIl11es. the Staiemeni of Financial Posiiion. the Siaitmenl of Cash Flow-5 and notes to ihe financial statetnenls. including a sumrnary of significarti aceoiinline policies. The financial reporting fram¢work that has been applied in their preparaiion is applieable law and Unittd Kit)gdom Aicouniing Standards Iunited Kingdom Gen¢rall}' Acrepled Accountin8 Praclicel. In our opiiiion the financial sialemenis.. give o true and fair ot'ihe state of the charity's affairs as at 4 S¢pt¢rllb¢r 2024 and of its incoming reSOUTee$ 2nd applicaiion of resources. for th¢ period then ¢nd¢d. have been properl prepared in accordance Isilh United Kingdom G¢nerall>' Ac¢epl¢d Accounting Practice; and have been prepared in accordance w'iih the requirernents of the Charit1¢5 Act 2011. Basis (or opittio Il'¢ condu¢l¢d oui audit in accordance iviih Iniem21ional Standards on Audiiing IUKI IISAs IUKII and applic8bl¢ laiv Our iesponsibiliiies under Ihos¢ standards are I'urther described in the Auditors. re5ponsibilitie5 for the audit of the tinancial SlalemLnts seciion of our report. Wi arL Inde.dent of the charity. in accordance Th'iih th¢ eihiol requirements Ihtt art rtlevani io our audii of the financial ststetnents in the UK. including the FRC'5 Eihical Siandaid. and %i'¢ have fulfilled our oihei cthical tcsponsibililics in accordance wilh these rtqiiirements. We believe thai the audit evid¢nce we hal'e obiained is sufftcient and appropriatt to provide a basis for our opinion. Con£lusion5 relating to going conctrm In auditin¥ Ihe lindnLial siat¥menis. li'e have concludcd Ihai the Iruste¢5' use of the goillg conc¢m basis of accounting in th¢ preparation ot'the ljnancial slatetncnt5 is appiopriaie. B¢d on lh¢ work ive have peifortned. %vt have noi ideniifi¢d anv maierial uncenainlies relating lo eients or condition5 that. individually or Lolleciively, may casi significani doubi on Ihc charity's ability. io continu¢ as a (Toing Concern for a p¢riod vf ai leasi Iwelve months from when Ihe financial siaiemenls are auihoristd for issue. OUT r¢sponsibilities and ihe respottsibiliiies of the iruste¢s wilh r¢5tKCi lo going concern are desciibed in the televanl s¢ctions of thi5 Teport. Other information The Irusiccs t)re rcsponsiblc for ihe other information. The other inforrnaiioD Cornprises the infonnation included in the Annual Report other Ihan the fjnancial siatem¢nis and our R¢port of th¢ Independent Auditors Ihereort. OUT opinTon on the tinancial staicmcnrs does not cover lh¢ other informaiion and. ¢x¢¢pl 10 the exierti otherwise explicitl). siaicd in our reporL we do not express an>. form of assuranc¢ conclusion thereon. In connection with our audit of Ihe financial siatement5. our r¢spon5ibility is 10 read the other infom121ion tnd. ttt doing so. consider ivhcih¢r ihe oihtr inlomiation is Inalerially inconsist¢Dt with th¢ tinancial statetnents or our knowltdge ohtaintd in thc audil or othcrwise appears 10 bc matcriall)- mi551ared. If we id¢ntif> such mateTial inLonsisiencies or appar¢nt rndleiial tni551alernents. we are rtquired 10 determine ilheiher this giv¢s rise to a material tnisstatemenl in the financial siaicments themsilves. If. based on Ihe w'ork we have p¢rtortned. we cnnLlude that thert is a material tnisstatement of this other infom)ation. we are r¢quir¢d to report Ihai fact. We haNe nuthing iu iepurt in Ihis regard. Matter5 which we gr¢ required to report by txteption ¢ haN'e noihing lo report in resptLI of the l'ollo1ng mailers where the Charities (Accounts and Reports) Regulations 2008 requires u5 to r¢port to y-ou if. in oiir opinion-. lh¢ infortna¢ion gien in the Report of the Trusites is inconsaslenl in any mat¢rial respect M'ith the financial statetnent5'. or sutlicienl accounting r¢cords htte lloi been kepi.. or lh¢ financial 51alernents' are not in aweetnenl willi the accounting records and rewrns,. or we ha%.¢ not rec¢iv¢d all ihc iDloitnaiion and explan&iion5 we requirt tor our audit. Pag¢ 7
Rtport of the Indepethdtnt AudÉtors to the Trusiets of Hull Trinity Holl5e Charity Respon5ibiliti¢s of tru5tee5 As txplaintd mor¢ fullN in th¢ Truste¢s' Responsibilitie5 Stal¢m¢n( the trustees are re5POllsible for ihe preparation of the financial si&rtm¢nis hleh give a iru¢ and fair view. and lor such internal conirol as the trust¢¢5 deiertnin¢ is necessary 10 enable the pKparaiion of financial statements that are fr¢¢ from material misstatement, 'hether diie 10 fraud or error. In PTepatirtg the financial stsiemenis, Ihe trusiees are responsible tor assessing th¢ charilv's abiliiv lo continue as a goinB Lollttm, disclosing. applicablc, maticrs relaitd to going concem and using the going conc¢Tn b3si5 of accounling unless the Irustees eiiher irtiend 10 liquidaie the chariN or to ceast op¢raiions. or have no realistic alt¢rnativ¢ bul to do so. Page 8
Report of the Independent Auditors to the Tru5tee5 or Hull Trinity House Charity Our responsibilities for the &udit of the fin2ncig1 stxtetnents e hai'¢ b¢¢n appoinl¢d as audiiors under %eciion 144 of the Charities Act 2011 and report in accordance ivith Ihc Aci and relevant regulations made or having effect thereunder. Our objectives art to obtain reasonable assurance about wh¢ih¢r the tinancial statements as ts wholt ktt frec from maierial misstatem¢ni, w'hether du¢ to fraud or error. and 10 155ue a R¢port of the Independent Audilots thttt includes our opinion. R¢asonable assuranct is a high level ol. assuranc¢. bui is not a guarantee that an audit conducted in accordancc ii'tih ISAS IUKI 111 alwavs derecl a maierial missiatement w'hen it exists. Misstatem¢nts can arise frorD fraud or error and are considered maierial if, indIIduallY or in the aggr¢gai¢. th¢ could reonab1V b¢ ¢xpect¢d to influence the economic decisions of users taken on the basis of these financial stateTnent5. We ideniily and assess ihe risks of material misstalement of th¢ financial 51aleinenls. M'h¢th¢r due lo fraud or error. and then design and pcrfomi audit proeLdurts rtsptrnsivc to ihosc risk& including obtsining audii ¢i'id¢nce that is suffici¢nt and appropriate to provide a basis for our opinion. Ideniifying and assessinE polenliai risks related 10 irregularities In idenlifyin? and as5essin¥ ii5ks of rnaitrial missiaiement in resptci of irregularities, including fraud and nnnryCOTnplianLe w'ith laws and rcgulaiions. we considcred thc following.. Audit response lo risks identified lh¢ naturr of the indi1ry and secior, conirol environment and business perfOrni8Ce including key driver5 for diiectors, reUneraliL}Th, bonus levtls and perlormance iargeis r¢sult5 Qt our enquirie5 of TnanaEerTrLI and IhLir oii'n idLniificaiion and asscssmcni of the risks of irregularities., anv Inatters ie ideniified hawing (>bthined and reviewed the companies, documeniaiion of their policies and Procedures relating to.. idenlih'ing. ¢valuating and complwing with laws and regulations and wheiher iho wcre aware of an) insianc¢s of nonconipliance-. d¢t¢ciing responding 10 the risks of fraud and whether ihev havc knowledge of any actual, suspected or alltg¢d Iraud, the internal controls csi2blished 10 miiigaie risks of fraud or non-complianc¢ with lail's and regulations.. the rnatt¢rs discussed among the audit engagemeni ieam including regarding how and M'here fraud might (Kcur in ihe financial statetnenls and any lentla1 indiiaivrs ul Iraud. As a reslllt of Ihese procedures, we considered the opportunitle5 and inc¢ntive5 that tnay ¢xis1 within the organisalion tor fraud and idtntificd the greaitsi potential for fraud in relaiton Fo r¢'£ll¢ d¢terra15. In common ith all 4udits under ISAS IUKI. %%"e are also required io perferm specific proctdures to respond to Ihe risk ol. manag¢tn¢nt override. We al%0 obiaincd an understsndino of the legal and regulatory frameOrkS that the cornpany o>peraits in. fo¢usinE on piovisions of Ihvst lai¥s and regulaiiolls Ihai had a dirtcl ¢l'lect on th¢ d¢l¢rmination ol. lliaterial amounts and di5closuies in the financial sratemenrs. The kev I&'S and regulaiions .¢ con5ideTed in this coni¢xl included the UK Comparties ALL UK Corpordie Goitmanc¢ Code and local t&x ltgislaiion. In addition. w¢ consideTed pmvisions of other laws and regulations thai do not have a direct effeci on the financial 5tydtemenis bui eompliaiice with which may be fundarnenlal to the company'5 ability to operate or lo avoid a tnaterial penalty. Audit r¢5pons¢ lo risks identified Our procedures lo respond lo risks idertlified included thL following.. reTrie.1n8 the financial slaleinenl disclosures and tesiing 10 supporting docurnentstion to assess complianc¢ with proi'isions of r¢l¢want laiys regulaiions deseribed as having a direct tffeci on ihe tinancial 5th1emenis' ¢iiquiriDg of tnanagement concerning actual and poieniittl liiigaiion and claims.. performing anali'rical procedures to identify any unusual or unexpecttd relationships that tnav indicaie risks of maierial misslaleinent due lo fraud-, reading minutes ol. meeting5 of thos¢ charg¢d i&ith govemJnte obtained an undersianding of provisions and held discussions with management 10 understand th¢ basis of r¢cogniiion or non-recognilion of lax proi'isions. and Page 9
Report of the Indepe]JdeTht Auditor5 to the Trustet5 of Hull Trinity House Charity in addTessing the risk of fraud through management override of controls, teming th¢ appTo>priaten¢55 of journal entries dnd oihei adjusthients: assessing M'hether the judg¢m¢nls tnade in tnaking accouDling ¢stimat¢s aTe inditaliNe of a pot¢ntial bia5, and rvaluaiin8 ihe business rationale of an). significant transaction5 that ar¢ iinu5uuI gr outside the normal course of business. W¢ 4150 Cotnmunicated relevartl identifiid 12ws and regulaiions and porential fraud risks to all ¢ngag¢Tn¢nt teatn m¢tnb¢rs. and remained alert 10 any indications of fraud or noncotnplimce with la.8 and r¢gulatiOR5 throughout the A further d¢scripiioll of our resptsnsibilities for the audit of the fancial siatemenis is located on tht Financial Reporting Council'% V¥cb51te at N%-%*w.fre.org.ualldttrsrtSwnSiblI1li¢S. This description fom15 part of our Rewrt of ihe Independ¢ni Audiiors. U5t of our report This report is Inade sol¢ly lo th¢ ¢harity'5 trustees. as a body. in aLcerdanct w'ith Pari 4 of Ihc Chariii¢5 (Accounts and Reports) Regulaiions 2008. Our audit Ork has been undertaken 50 thol iv¢ might 51ale 10 ihe chaTity'S Itiasices those mallers 14"¢ are requir¢d 10 51ai¢ io th¢tn in an audilvrs, Teport and for llo othLr purpose. To the fullesi extent p¢rmitled by law, we do not acc¢pi or assum¢ r¢sponsihilily lo an)'o[ other than the chzriiy and the charity's iruslees as a body, for our audii Ork. for ihis rert. or for the opinion5 have lormed. Mr Richard D Lacey HdTris LacL)' and SIv8in Charttrtd A¢counianis and SlatutoTr' Audiiors The Riverside Buildiiig l-lessle Easi Yorkshir¢ HLi130DZ Date". Page 10
Hull TrtTrity House Ch2rÉty Statemenl of FinancÈal Activitie5 for the Period 7 September 2023 to 4 S¢p¢emb¢r 2024 Period 7.9.23 P¢iiod 8.9.22 to 6.9.23 Totsl funds 4.9.24 Total funds Unresiricted funds Restricttd fund EnO.ment fund Notes INCOME ATrID ENDOWMENTS FROM Dortaiions and l¢gaci¢s 350.571 350,571 278,911 Other irdding activiiies Investment income 1.344.429 506.12) 1.344.429 510.527 .249,918 341.320 4.402 Tot#l 2.201.125 4.402 2.205.527 1.870.149 EXPENDITURE ON Raising funds 33,433 33,433 33,991 Charitable activities tiraiits palahle 309,995 309.995 395.329 Running tosis. HTH Academy manageinenl & admin & invest prop¢rtN iepails 1,363.327 3.768 1.367.095 1.250 135 Total 1,706,755 3,768 1.710.5?3 1.679.455 Nei gain5 on investrll¢n15 583,992 11.935 990.672 1.586.599 709.831 NET IYI COME 1,078.362 12.569 95Y).67? 2.081.603 900.525 RECONCILIATION OF FUNDS Totsl funds brought forward 17.188.617 167,781 22.632.651 39.989.049 39.088.524 TOTAL FLTNDS CARRIED FORIVARD 18.2(O.979 180,350 23.623.323 42.070.652 39 989.049 The ntstes form part of Ihese financial siatemenT5 Page 11
Hull Trinity House Ch£rity Statement of Financigl Positio 4 September 2024 2024 Total fiinds 2023 Total funds Unrcstricied funds Restricte fund End0.n1¢llt fund Notes FIXED ASSETS Tangibl¢ ass¢ls Investments Investments Inv¢stm¢nt PTopeo' 12 4,825,000 4.825,000 4.224.999 13 14 8,148,458 159,419 2,077.303 24.795.000 10.385,180 24.795.000 9.918.541 20.490.000 8.148.458 li9,419 31,697.303 40,(K15,180 34.633.540 CURRENT ASSETS Dtbiors Ca>h ai bank and in hand 174.308 10.165.868 174.308 2.112819 272,889 5.185.277 20.931 8.073.9801 10,340,176 20,931 18.073.980) 2.287.127 5.458,166 CREDITORS Atntsunts falling due within one y¢aT 16 1221.6561 1221.6561 1102.6571 NETCURRENT ASSETS 10,118,521 20,931 8,073.980) 2.065.472 5.355 509 TOTAL ASSLTS LESS CURREPIT LIABILITIES 18,?66.979 180,350 23,623.323 42.070.652 39,989.049 NET ASSETS 18.266,979 180,350 23,623,323 42,070,652 39,989,049 FUNDS 17 Unrestricied funds Reslriclcd futtd5 End0ment funds 18.266,979 180.3iO 2).623.3?3 17,188.617 167.781 22,632.651 TOTAL FUNDS 42.070.6i2 39.989.049 The financial ateMentS tre approved by the Board of TeeS and auihorised for issue on ..Q.4../Q.. j.X.02th . and M"er¢ 518n¢d on ils behalf by.. Captai CCW Toivne Caplain JD Robinsott The notes form part of these fjnancial statetnenls Page 12
Hull Trinity House Charity Sritement of Cash Flow5 for tht Period 7 Septtmber 2023 to 4 September 2024 PcTits Period 7.9.23 8.9.22 lo 10 4.9 24 6.9.23 Notes CA5h flow5 from operating gctivities Cash g¢nerJied from operations 202.055 2,405.69) N¢1 cash prolded bv operating activitie5 202.055 2.405,695 Cash llows from investing activiti¢5 Purchas¢ olfixed ass¢t investments Purchase Ot investment property Sal¢ of fixed ass¢t ini'¢stments Sale ot inN¢slinent prop¢rty Interest rec¢iv¢d Dividends receiv¢d 11,045.6171 14.561,0921 941.173 i10,tM)o 170.260 340,268 11.779.774) 1549.7351 1.016.084 92,500 41.190 300 133 Nci cash used in investing activitle5 13.645.008) 1879.603} Change in cash rash equivalent5 Iti the reporting period C£5h llnd c&5h equivilents gt the beEinJJing of tht reporting period 13.442.950) l.i211.674 6.422.734 4,894.060 C.-a5h and c&5h equivilethts at the end of the reportiTrg period 2.979.784 6.422.734 The noies form part of th¢5¢ fInanri#l statements Page 13
Hull Trinity House Charity Notes to the Statement of Ca$h Flow5 for the Period 7 September 2023 to 4 September 2024 RECOINCILL4TION OF NET INCOME TO NET CASH FLOW FROM OPERA TING Af.TIVITIES Period 7.9.23 Period 8.9.22 to 10 4.9.24 6.9.23 Net income for the reporting period las per the St8lem¢nt of Fin#ntiil 495.(M)4 190,694 Adj$tentS for.. Depreciation charges Inieresi r¢LeiYed Divid¢nds receiNed De¢ree in dcbtors Incrtzselldecrcascl irt creditors 1170,2601 1340.2681 98.i80 118.999 141.1901 1300.1291 2,616.784 60.464 Net ta5h provided by operations 202 055 2.405.695 ANALYSIS OF CHANGES IN NET FUNDS Al 7.9.23 Cash flow Ai 4.9.24 Net CAsh Cash ai bank and in hand Invetsimtnts- dtsignaied bank deposits 5.185.277 1.237.4i7 13.072.458) 1370.49?) 2.112,819 866,965 6.422.734 13,442,950) 1979.784 Toi*l 6.42? 734 3.442.9501 ? 979.784 The not¢5 form part of th¢$e financial SLltemertts Page 14
Hull Trinity Hou$t Chirity Notes to the Financial St&tements ftbr the Peri(kd 7 Septernbtr 21)23 10 4 SÈptÈmbtr 2024 ACCOUNTING POLICIES Bisis of preparing tht fjnancial statements The finartLial siaicments of the charit}'. i¥hicli is a public benefit eniity under FRS 10? have b¢en pr¢par¢d ID accoidancc with Ihe Charities SORP IFRS 1021 'Accouniing and Reporring bj Chariiies.. Siatem¢nt of Recornmended Praciice applicable 10 charities preparing Iheir accounts in accordance wilh ihe Financial Reporting Standard appliLable in Ihe UK and Republic of Irtland IFRS 1021 lelltctive l Januarj. 20191,, FinancTal Reporting Standard 102 The Financial RLPOrting Standard applicablc in th¢ UK and Republic of Ireland, and Iht Charities Act 2011. The financial siatemenis have b¢¢n prepared under Ihe historical cosl convention. with the exception of invesitncnls Sh1¢h are ineludtd at markei fvaliie, as modified bv ihe revaluation of ¢ertain assets. In¢om¢ Income received for ser.1¢¢S provid¢d is accounted for on an accruals basis. Cash donations. gift5 and l¢ga¢ies are iDtluded in full in the ittcome and expenditure accouni a5 the are r¢c¢iv¢d. Anv significant non-cash donaliuns are inLluded in Iht incomt and expendiiure account ai lh¢ Irusiees. esiimate of their market baliie when received. The valu¢ of voluDlary' h¢lp 15 not included in the accounts. Grants and oih¢r fi]nding of a rtv¢nue nature are deferred and released to the income and ¢xpenditur¢ account over ihe period to w'hich ih¢y relate. Bank inierest is included in the incom¢ and ¢xp¢nditure arcount on on accruals basi$. Chaiiges in the lair Yalu¢ ot inv¢stin¢nls ar¢ r¢rogni5ed as incotne or expcnditurt in the Siaiemeni of Firtaneial Expenditure Liabiliiies are reco>gnibed o expenditure ds sourt as Iheie is a legal or eonsiruciive obligaiion commiiiing the chariiv 10 that expenditure. it is probable that a transfer of cconotnit bcntfits M'ill bt required in settlemeni and thc amount of the obligation can b¢ m¢U5UTed TeliJblN'. Expenditure is accounted lor on an accruals blS and has been classified undeT headinE5 thai oBBngaie all eosi related 10 the category. Wher¢ costs iannoi be dir¢ctlv attribut¢d to particular headings thev have been allocaiLd to aciiviiies on a b15 COtISlSt¢ni wilh the use of r¢sourLe5. Grants offered subj¢cl to tortditions which have noi been mei ai iht Jtar end dale are noted as a commiimtni bui not accTued as expenditure. Tangible fixed asset5 Fixed 255ets- offtie equipment and ponttsort5 D¢pr¢ciation is calculad bi reference 10 cosi after Ihe dtductioll of estimaied residual i'alue ai a Tale e5timai¢d lo wri1¢ off th¢ r¢leTranl ass¢1 ov¢r its expected useful life, taking iniv dLLuunl nvmial commercial and technical ob501¢5¢¢nc¢ The exp¢¢led useful lif¢ is.. Pontoons Compuier ¢quipmenl Orher eouiptneni 5 years 3 year5 5 year5 Individual tIKed assets costing £500 or nJor¢ capitali%d at cost. Freehold land is not depreciaied. Fixed as5¢ts- fr¢¢lJold land atld buildings for own use and ini'e51mcnl properties Freehold propert1¢5 boih tor own use and investsnertt properties have been valued bs Mcssrs Pcnrost Commercial aiid Messrs Cuiida115. both qualified Chartered SuTveyui> un an open markei value basis. Freehold properiies for own use are valued 5 >'¢ars but du¢ lo the fluctuation in the markei valuarions ii Th'as decided to rei'alue at ihis Jear-end. Investm¢nt properties aTe reyalued annually. Page 15 continu¢d.
Hull Trinity. Hovse Chirity Note5 to the Financial Stxtetnents- contirtued for the Ptriod 7 September 2023 to 4 September 2024 ACCOUIYTING POLICIES- tontinued Tangible fixed assets The valuations '¢re undertaken in accordance with the Royal In51itulion ol. Chartered SuTveyoF$ Appraisal and revaluaiion Nlanual. DLpreciaiion is charoed by cqual annual instalments commencillg ivith the year of acquisilion for 3 period ot 50 vear5 bcing ati cstimaie of the eApeeied uselul lives ot. Ihe buildings. except tor ihe inv¢strn¢nr prop¢rt1¢5 h1¢h are not depreciakd. The following properties are noi held for investment purposes. Offices, Workshop and ChRpel Thes¢ front onto Trinity HOU Lane and on the nerth side of Posterngaie and are used for Ihe general adtninisitatioft of Iht House. Rest Homes, Anl*by High Road These are occupied by lh¢ per50ns in need M"ho tneet the Criteria sel by Ihc Tmsiccs. Tht W¢lton Waters Adventure Centre 'rhi5 propert) lias been used b the Charity in aCLordance wilh ihe powers for such use. Fixed As$ets quoted securities The quoied S¢CUTIt1¢5 ar¢ Tralu¢d ai tnarket value, based on the mid-point of (he quothiion in the Stock Exchange Dail oi'ficial list or sirnilar recognised tnarkel value. Realised and unrealistd gains and losses on sale or valuation ot inv¢5tmen13 are tak-en lo the Sle[ent of Financial Aciivitics in Ihe period in which the> arise. Investments InN'¢5¢tn¢nls both ¢UTr¢nt and fixed are included ai fair value %Trithin the accounts. Investment property Invesimerti propertv is shoi¥n ai mosi reetni valuaiion. .4ny aggregate surplu5 or deficit arising from changes in fair value 15 recognised in thc Statement of Financial Acrivities. Taxstion Th¢ is exeTnpl from tax on its charitabl¢ activities. Fund accounting Unrestricted funds are Ihose availablt for use ai the discreiion ofr the Trustees in funherance ot general objectives ot'the charit) ond which have noi been dcsignaied lor other pu)0$¢$. Designat¢d lund5 rornpri5e unrestTicied funds thai have been sei aside by (he Trusiees for particular purposes. Th¢ aitn and use of each design21ed fund is set our in ihe notes to the ffinancial stat¢menis. Restricted funds are funds which are 10 be used in accordance ii'ith specific reslriclion% imp95¢d by doDof5 or by Ihe Sch¢rn¢ apprO¢d b). th¢ Ch3ritJ Cotnmi$8ion. The aim and ust of cach restrici¢d fund is Set oui In the lloic5 io lh¢ financial statements. The Endowment fund r¢presents those asseis which much bt htld permanentSy. Income gen¢rat¢d bi. the Endowment lund is unr¢slricl¢d Invesitllent incorne and gain(1053¢5I are alloLaied to the appropriate fund. Debtors Debtors includ¢ afftounts owed lo th¢ rhariti" for the provision of services or amounts the charity has paid in advance for the good5 and services it Th'ill Teceive. Debiors are measures ai iheir recoverable amounts. Page 16 contlDued.
Hull Trinity Hous¢ Charity Note5 ¢0 the Financial Statements- continued for the Period 7 September 2023 t• 4 September 2024 ACCOUNTING POLICIES- eotttinutd Resource éxptndtd All expendilurc. including anv irrece¥eiable VAT. is aceounied for on an accNals basi5 and has be¢n classified under headings Ihai aggregait all costs related 10 Ihc caitgorN'. Where cos15 cannot b¢ dir¢cily attribui¢d lo yarticiilar hcadin85 the> hai'e bccn allocated lo activjtics on a basis consisienl whitt the use of the resources. Creditor5 A liabilit. is r¢cogni5ed tor the wnount that th¢ chority anticipates il will pay 10 settle ihe debi or the amount li has received as an adi'allce paymeni for the services it must provide. Liabiliiies ar¢ tneasured at their 5¢111em¢ni amount. Grants payable Grants payable iiicluding th¢ amounts paid to retired tnariner5 and their depcndanls are accounitd for in full as liabilitits of iht charity when approl'ed bj th¢ Trusie¢s and accepted bv the benefiriaries. Support CDSts Support cosis compris¢ th¢ direct cost8 including staff. attiibutable 10 charitable a¢tiviii¢s. Supwft cusis have cn apportiotjed on the basis of staff time. Governance cost5 Govtmanc¢ costs incli¢ exp¢ndiiure on adrninisiration of the Chari15" and compliance wilh consiitutional and siatuior> rcquircmcnls. including audit and legal fees. Estimates and judgements Esiimatts and jiidgemeiiis are coniinualli. ¢valual¢d and ar¢ ba5¢d on historical experiencc and other factor& including expectations of fuwre ei'enls thai are beli¢v¢d lo b¢ r¢8wnable under the cirtumsiances. Although Ihcse estimaies are b¢d on the Dir¢ciors' btsl knoi%'ledg¢ of the atnoiinl, eienls or aLlions. d¢ludl results ultimaiely differ frorn Ih¢s¢ estimate5. Th¢ Dir¢ctor5 do not con5ideT there to be any maitrial cstimatcs and judgements. Finirtti*l instrumenrs Tht coinpaD>' onl}. has financial a55els and financial liabtlilies of a kind ihai qualifv as basic financial instruments. Basic financial instrum¢nt5. including Itade and tsiher debiors and crtdiiors, are iniiiallj r¢cognis¢d at iransaciion i'alu¢ and subsequell¢lv tneasured al IheiT settlemertl value. CAsh and cash equivalents As ai the y¢ar ¢iil die Charitv held a portion of ils cash Teserves within high inieresi. inveslmeni aciounis. Due ro their highly liquid naiur¢. th¢s¢ hav¢ b¢¢n included within Cash ai bank and in hand. DONATIONS. LECACIES AND GRANTS Period Perii)d 8.9.?2 lo 6.9.?3 7.9.23 4.9.24 Donations Grants 3)8 350,213 23.693 255.218 350,571 278.911 Pa8e 17 ontinued...
Hull Trinity Hous¢ Charity Notes to the Financial Statements- continued for the Period 7 September 20Z3 to 4 Sept¢mb¢r 2024 OTHER TRADING ACTIVITIES Period 7.9.23 P¢riod 8.9.12 4.9.24 R¢nlal income 1,344,429 1,249.918 INVESTMENT INCOME Period 7.9.23 P¢riod 8.9.22 to 6.9.23 4.9.24 Income from quoted invtsimenis Bank aiid oiher deposiE Illt¢r¢st 340,268 170.259 300,13) 41.185 510,527 341.320 41SING FUNDS ItLve5trnent Tnansgement ¢0sts Period Period 7.9.23 8.9.22 to 6.9.23 4.9.24 Portfolio rllallagemeni 33.433 33.991 CHARITABLE ACTIVITIES COSTS Grant funding of Support costs Isee notc 81 (set nott 71 Toials Granis payable 396.137 86.1421 509.995 Page 18 ontinued...
Hull Trinity House Charity Notes to tht FiTrancial Statements- eontinued for the Period 7 September 2023 to 4 September 2024 CRANTS PAYABLE Period 7.9.23 Period 8.9.?2 to 6.9.?3 to 4.9.24 Granis paN'able 396.137 395.329 The total grants paid 10 insiilUlion8 during the period was as follo'S.. Period 7.9.23 Period 8.9.22 io 4.9.24 6.9.23 Grants lo snstilulions- HuEnb¢r Seafearers 5(K> 500 The totsl 8ranis paid 10 individuals during (he p¢rii)d was as follo.$.. Period 7.9.23 lo 4.9.24 Period 8.9.22 to 6.9.23 Retired mariners and Ihetr dcpendanis Suppurl LOSIS 309.495 86.142 311.336 83.493 395.637 394.8?9 SUPPORT COSTS Ciovemanee cogis Managemertt Totals (hh¢r resources ¢xp¢nded Grants pavabl¢ 1,353.186 186.1421 13,909 ,367,095 86.1421 1.267.044 13.909 1.280.953 AUDITORS, REMUNERATION Period 7.9.23 Period 8.9.22 10 ro 4.9.24 6.9.23 Fees pavable lo the chaTity'5 auditors foT ihe audit of the chariiy's financial siatem¢ll Audito, r¢mun¢raiion for non audit v4.ork 10.328 3,581 9,983 3,454 Pag¢ 19 continued...
Hull Trinity House Charity Note5 to the Fithantial Statements- continued for the Period 7 September 2023 to 4 September 2024 io. TRUSTEES. REMUNERA TION AND BENEFITS There were no trusi¢¢s' retnun¢ration OT Qth¢T b¢nefilS foi the peTiod ended 4 Septembtt 2024 nor for Ihe period ended 6 September 2023. Trustees. txpenst5 There i¥ere no Irust¢¢s' expenses paid for th¢ PeTiod ended 4 September2024 nor for tht pttiod ended 6 Scplembci 2023. STAFFCOSTS 2024 2023 Wag¢s and salaries Social securilv costs her p¢n5ion costs 828.218 823,417 70.449 65.679 60.569 960.633 959.545 The number of employees ivhosc tmoluments. excluding pension coniribulions, fell ivithin the followin? T2nBes". 2024 2023 £65,000 10 £75.000 The average monthly numberof cmployees durlng ihe period was a5 follows". Period 7.9.23 Period 8.9.22 lo 6.9.23 to 4.9.24 Rtsi hL)mes Support slaty 23 27 38 The Charity operat¢5 a d¢tin¢d contribution pension scheme. Contributions payable to Ihe Charity 5 p¢nsio scheme are charged to the Statement of Financial ALliYiiies in Ihe period lo which Ihey relate. Those pension contributions paid itt the year were £60,56912023.. £65.6791. Key management p¢r50nnel TeTnuneTation in the year w&$ £101,052, included in this figure is employ¢rs nationAI insurance contribuiions and emplov¢rs p¢n5ion conlribulions. Page 20 continued...
Hull Trinity House Charity Notes to the Finatt¢ial Statements- continued for the Period 7 September 2023 to 4 September 21n4 12. TANGIBLE FIXED ASSETS Fixtures advtniurL eentre equipment Freehold properry riltings Pontoons Totals COST OR VALUATION Ai 7 Sepiembcr 2023 Revaluations 4.225,WO 600.000 125.458 27,063 43,58i 4,421,106 600.000 Al 4 Septetnber 2024 4,82) 12i,458 27,063 5021 106 DEPRECIATION At 7 Sepi¢nib¢r 2023 and 4 Sepiernber 2024 125,458 27.063 43.585 196.106 NET BOOK VALUE Ai 4 Scpiembcr 2024 4.8?5,000 4,8?5,000 At 6 September 2023 4.225.000 4 225.000 Properties iyere valued on an open markei exilllg use basis on 4 Stpiernber 2024 hy Iwu independÈnl professionall> qualifiLd I'alutrs i¥ith experience lIhin the local property Inark¢t .1 hose i'&luer5 M'cre. Cundalls. Malioii and Pcnros Cotntnetcial, Hessle. All assets are stated using the rcialuaiion rnodel. Historie revaluaiions of property.. Valuation in 2023 £4,225.WO V&lu21ion in 2022 £3.9iO.WO Valuation in 2021 £8,750.WO 13. FIXED ASSET INVESTMETr4TS Cash and sclllcments pending Lisi¢d invesimenis Totals MARKET VALUE At 7 Sepi¢mber 2023 Addiiions Disposals Revaluations 8,681.088 1,045,616 1927.8821 719.393 ?37,454 9,918.541 1,045.617 1927.8821 348,904 370.4891 Ai 4 September 2024 9,518,?15 866.965 10.385.180 NET BOOK VALUE AI 4 S¢pitrnbei 2024 9518.215 866.965 10,385,180 Al 6 September 2023 8681,088 ,237 4i3 9.918.541 Pag¢21 continued...
Hull Trinity House Charity •tes to tht Finxntial Statements- continued for the Period 7 September 2023 to 4 September 2024 13. FIXED ASSET INVESTMENTS- contin¥ed Regional Breakdown Extraordinary Repair Fund UI 46010 250/ North America Europc Oiher Japan Rell of the W'orld Y/0 Endowment Fund UK 4V/. 260/ V/v 7/ 2/• North America Euiope Other Japan Rest of the World Reserve Fund UK NDrTh Atn¢ri¢a Europe Other japan Rest of the 14'orld 470/ 26/p 20/. 14. INVESTfvIENT PROPERTY FAIR VALUE At 7 %epiembeT 2023 AddiLiOIIS Disposals Revaluaiton 20.490.000 4,i61.092 1150.0001 106.09?) Ai 4 S¢ptemb¢r 2024 24.795 NET BOOK VALUE Ai 4 September 2024 24.795.000 Al 6 SeptetnbeT 2023 20,490.000 Page 22 continued...
Hull Trinity House Charity Notes to the Financial Statement5- rontinued for the Period 7 September 2023 to 4 September 2024 15. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors VAT 41.407 74.332 189.165 15.547 6.070 62.107 PPaV¢nts 58,569 174,308 272,889 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade cr¢dito>r5 Taxaiion and s(Kial security Other cr¢diior5 149,196 44.243 28.217 74,741 27,916 221656 102.657 17. MoveMENT IN FUNDS Ntl movement in funds At 4.9.24 At 7.9.23 Unrestritted funds Reseive fund 17,188,617 1.078.362 18.266.979 R¢51ricted futtds Prilc funds and bequesis 167.781 12.569 180.350 Endowmttht furtds Endowtnent fund 22,632,651 YJU,672 23.623,323 TOTAL FUNDS 39,989,19 2.081.603 42.070.652 Net movemeni in funds, included in the abov¢ are follow5.. ItLcomitJg r¢sourc¢s Resourc¢s expend¢d Gains artd 105se5 Movement in funds Unrestritted funds Reserve fund 2,201.12) 11,706.75)) i83,992 1,078,362 Rtstricted futhds Prize tunds and bequtsts 4,402 13,7681 11.935 12,569 Endowment fund5 Endowment fund 990.672 990.672 TOTAL FUNDS 2.205.527 1.710.523) 1.586.599 2.081,603 Page 23 continued...
Hull Trinity House Chgrity Notes to the Financial St4tements- continued for the Period 7 September 2023 to 4 September 2024 17. MOVEMEI4T IN FLNDS- contihutd C(kmparative5 for DJovém¢llt in funds Net movemeni In fut)ds Ai 6.9.23 Ai 8.9.22 UDrestricted funds Reservc fund 17.351.540 1162.9231 17,188.617 Rtstri¢ted funds Prize funds and bequests 143.380 24.401 167.781 End0wmet funds Endowment fund 21.593.604 1.039.047 22.632,651 TOTAL FVNDS 39.088 524 59.989.049 Comparative nei movement in funds. included in the above ar as follows". Incoming resources Resources expended Gains and losses Movement in funds Unrestritted funds Reserve fund 1,842.884 11.678.687) 1327.1201 116?.9231 Re5tricttd ynd5 Priz¢ funds and b¢quest5 27,265 17681 12,0961 24,401 Endowment fund$ Endoi4'inent lund 1.039.047 ,039.047 TOTAL FUNDS 1,870.149 11.679,4551 709.831 900.525 Tangible fjxed sets N¢1 curr¢nt as%15 Investmen15 Total Endowmeni fund 4,825,000 26,872,303 18.073,9801 23,623,323 R¢5tric¢ed funds Prize fuuds and b¢que5ts 180,352 180,352 Unre$tricted fllnds RerY¢ tund Rest horne funds Property repair tuDds 2.849.185 1,925.394 3.352,946 3.828.229 .959,950 4.351.312 6.677.414 3,885.305 7.704.2i8 4.825.000 35.180.180 2,065.471 4? 070,652 Page 24 coniinued...
Hull Trinity House Ch*rity Notes to the FithAtttig1 Statements ¢Olltinued (or the Period 7 September 2023 to 4 September 2024 18. RELATED PARTY DISCLOSURES Hull Trinity House comprises Ihr¢e s¢parate l¢gal enlities. Th¢ Corporation of Trinitv House in Kingston upo Hllll, Hull Trinity House Charity and Hull Triniri House Fund. The thr¢¢ organi5atlOll5 5har¢ a s¢cr¢lJrial whi¢h Larries out eommon adminisiration of the enittits. Costs are shar¢d bttw¢¢n th¢ Ch11> and th¢ Corporalion. In caLh Instance a Board ol'Trusiees overste Ihe organisaiions. "the boards £ornpri5e ot. Ilie Warden. Llder Br¢ihr¢n and Assisiattis of Triniti. House itt Hull. 19. ENDOWMENT FUND The fund 15 itnplicd by the Schemes approved bj the Chariry Commissioners and M'a5 initiallv wulalent to the value of the originaiillg InVements. The capital tannoi be used exetpl under a sptcial Scheme approvtd by th¢ Charity Commission¢rs but the incotn¢ can be u$ed ftsr gener purposes. The endowment fvnd ItprtKnt5 Ih05e 85Sets which much be held pemianentlv. principall! the freehold properli¢s both for inv¢stsnents and use. Income arising cdn be ustd in aecordance wilh Ihe objects ol Ihe Charity. Any capital 5urplu5¢s or103s¢s arising on the investments form part of Iht fund. 20. RESTRICTED FUNDS- PRIZE FUNDS AND BEQUESTS Th¢5¢ funds represeiil donations and bequests io provide annual prizes for Iht pupils ai the Hull Trinity House School oui ot'capital anOr inrom¢. 21. UTrIRESTRICTED FUNDS- RES8RVE FUND This fiind was set up under the Schemes appiuved bv Iht Charitj Cominisslon¢. being the accumulaiions o( incom¢ trom ¢arli¢r years to ih1Ch additions have been made oui of laicr income surpluscs. The capital aiid income tart be used for general purposes. The reSere fund repre5ertls the fTee tesertres ofthe Chariiv which are noi designaied for particular PUFWS¢S. 21. UNRESTRICTED FUNDS_ REST HOMES FUND AND PROPERTY REPAIR FUND These d¢signttt¢d are subject to the Schemts approved bj th¢ Charitv CotnrtLission¢rs. Th¢ capital and income be used for Ihe designaied purposes. Th¢ tunds are rnaintain¢d to ¢n5ur¢ Ehal an appropriate level of resources are retained io meet the costs of ihe extratsFdinaFV repair& improvemtnis or rebuilding olihe R¢51 Hom¢5 and th¢ oiheT PTop¢rty of the charity. Pa8¢ 25
Hull TriThity House Charity Detailed Stgternent (bf Finoncial Activities for the Period 7 September 20Z3 to 4 S¢pt¢mb¢r 2024 Period 7.9.23 Period 8.9.22 to 6.9.?3 10 4.9.24 INCOME AiYD ENDOWNIENTS Donations and legacie5 Donai&ons Grdnls 358 350.213 23.693 25).?18 350.571 278,911 Other triding activities Rental income 1,344,429 1,249,918 lJJvesÉmtnt income Incoin¢ from quoted investtnents Bank and other deposit interest 340.268 170.259 300.135 41.185 510.527 341320 Total incoming resource5 2.205,527 1,870.149 EXPENDITURE Investment manggement costs Ponlolio anagern¢nt 33.433 33.991 ChAritable activititS Grants lo institutions Grants to individuals 500 395.637 5(K) 394.829 396.137 395.3?9 Support Costs Management In¥¢stilleni prop¢rty r¢pairs and ¢xp¢ns¢s Running c05r5- alrnshouK5 Trinity House Acade[n. Support costs 643.466 26.649 22.645 574.284 656,491 55.659 25.709 496.?56 1,267.044 1 ?34.116 Other Computer equipmeni 2,582 Govtrnanee tosts AudiloT5' tctnuntiation Cartied forward 10.328 10.328 9,984 9,984 This pag¢ does not form part of the statutorv financial atrICls Page 26
Hull TriNity House Charity Det&iltd Statement of Financial AetÈvitie$ for rhe Period 7 September 2023 to 4 September 2024 P¢riod 7.9.23 P¢riod 8.9.22 to 4.9.24 6.9.23 Govtrnante costs Brought fori¥ard Auditors, remuneraiion for non audii Ork 10,328 3.581 9,984 3,454 13.909 13,438 Total resourLes expended 1.710.523 1.679.4i5 Net intome before gain5 and 105se5 495,4 190,694 Realised rt¢ognised gain5 and losses RLaliscd gain4llossts1 on filed asset inv¢stm¢nts 1.586.599 709.831 Net klltome 2.081.603 900.525 This page does noi lorm part of th¢ ststutorv financial statemenls Page 27