JOHN HORNIMAN'S CHILDREN'S TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
MYRUS SMITH
Chartered Accountants
Norman House
8 Burnell Road
Sutton, Surrey
SM14BW

JOHN HORNIMAN'S CHILDREN'S TRUST
REPORT AND FINANCIAL STATEPJIENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTENTS
Pages:
Legal and Administrative Information
2107
Trustees, Annual Report
81010
Independent Auditors Report
11
Statement of Financial Activities
12
Balance Sheet
13to17
Notes to the Financial Statements

JOHN HORNIMAN'S CHILDREN'S TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
The John Homiman's Convalescent Home was established under a Declarab'on of Trust dated 26
December 1889. The Charity Commission sealed a scheme dated 12 May 2004 which altered the
Trusts of the Charity now to be known as John Homiman's Children's Trust and for its administration.
Trustees
Heather Brayshaw
Mary Bullard
Paul High (Chairl
Fiona Knott
Val McFarlane (Deputy Chairl
Kevin McNamara
Liza Phipps
Kate Sewell
Sue Sharpe
Stephen Wrsi hl ITre2surerl
SecTetary
Bal Saini
Principal Address
6 Upper Vauxhall
The Vauxhalls
Wolverhampton, VW14SY.
Charity Commlsslon Registsred Number
222730
Auditors
Kingslon Burrowes Audit Ltd
308 Ewell Road
Surbilon
Surrey
KT6 7AL
Bankers
Unity Trust Bank
PO Box 7193, Planetary Road
Willenhall, VW1 9DG
Solicitors
staffurth & Bray
85 Aldwick Road
Bognor Regis. P0212NT
Hunters
9 New Square
Lincoln's Inn
London, WC2A 3QN
Independent Investment Advisor
Quilter Cheviot
Senator House
5 Queen Victoria Street
London, EC4V 4AB

JOHN HORNIMAN'S CHILDREN'S TRUST
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report along with Financial Statements of the charity for the year
ended 31 December 2024. The Financial Statements have been prepared in accordance with the
accounting policies set out on pages 13 and 14 and comply with the charity's trust deed, the Charities
Act 2011 and Aecounling and Reporting by Charities." Ststement of Recommended Practice
applicable lo charities preparing their accounts in accordance with FRS 102 The Financial Reporting
Standard applicable in the UK anol Republic of Ireland"
The Financial Statements have been prepared on the historical cost basis with the exception of
investments which are valued as at the date of the Balanc8 Sheet
Oblectlves and activities for the public bonefrt
The obje¢tives of the Trust are to assist in the relief of sickness and the advancement of education of
¢hildren who are sick, convalescent, or have learning disabilities. The Trustees confirm that they have
ferred lo the guidance contained in the Charity Commission's general guidance on public benerrt
when reviewing the Trust's aims and objectives and in planning future activities and setting the grant
making policy for Ihe year. The criteria for awarding grants are:
Criteria for grants
All grants musl contribute lo the aims of the John Horniman's Children's Trust, namely..
To assist in Ihe relief of sickness and the advancement of education of children who are sick,
convalescent, or have learning disabilities.
The Truslees will give priority to projects=
run by Quaker charities or bodies, or organisations with historical connections to Quakers,.
which can be intrOdU￿d by a Tnember or attender of a Quaker meeting personally.,
known to the Trustees.,
which fvjlfil the objects of our trust.,
which work with children up to the age of 19 years old.
Applications are welcome from charities..
that are well estsblished or.,
that are newty formed and may be working towards registered status.,
Ihal operate within the UK.
What we will not fund
While in general principle the Trustees would not be prepared lo fund work unless there is a
reassurance that it will be entirely focused on the needs of children, they are however a￿ayS
prepared to look al any special circumstsnces. They believe h¢)wever that grants towards the
following are unlikely to fall within their remit..
Adapting buildings to provide disability aC￿ss.
All age disabled support groups.
General youth work.
Another organisats'on that dispenses funds to a third paty.
Applications from or on behalf of individuals.
Our expectstions following the granting of any award.
Granls can be awarded for up lo 3 years on an annual ieview basis. We anticipate that annual grants
awarded will be be￿een £1,000 and £5,000 per annum. Recipients are asked to send a report of
their aclivilies (annual report) for the year of the grant award. We hope that most projects will be
monilofed by individu81 Horniman Trustees or by our local contsct leg Local Quaker Meeling}-

JOHN HORNIMAN'S CHILDREN'S TRUST
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Conlinuedl...
Since 2003, as matters of g8neral practice the Trustees have..
Devised and implemented a grant5 2ppli¢ation procedure.
Invited. re￿iVed and screened gtznl applications_
Awarded grants for a range of causes.
Agreed a sensible monitoring system by Trustees to ensure that a grdnt be used for the intended
purpose.
Detemiined to spend the proceeds of investment effecb.vely within the framework of the Trusvs
aims.
In 2009 Trustees agreed to allocate almost all the income derived from investrnents {retaining
only erbough lo cover administration and governance expenses) on a half yearly basis, allowing
maximum public benefit to sick child￿n. However, since 2013 and due lo the significant increase
in the number of applications for grants, the Trustees have also used some of the gains on
investments held in order to meet this inGreased demand.
Achievements and performance
Durin9 the year, grants have been made to..
Armonico Consort
£3,000
Arts Depot Trust Ltd
£3,000
Ataxia Telangiectasia Society
£1,500
Autism Bedfordshire
£2,000
Bendrigg Trust
£2.000
Brighter Opportunities for Special People
£1,000
C81ibre Audio
£2,000
Candlelighters
£1,000
Cerebral Palsy Cymru
£2,000
Chailey Heritage Foundation
£2,500
Challengers
£4,000
Chestnut Tree House
£2,000
Child Brain Injury Trust
£1,500
Children's Heart Surgery Fund
£2,000
Cystic Fibrosis Trust
£2,000
Dame Vera Lynn Child￿n,8 Charity
£2,000

JOHN HORNIMAN'S CHILDREN'S TRUST
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Continuedl....
Douglas Mcmillan Charitable Trust
£2,000
Elizabelh Foundation
£1,000
English Touring Opera
£4.000
Family Action
£3,000
Happy Day Children's Charty
£2,000
Hearts and Mindg
£2,000
Howard League for Penal Refom
£1.000
JessieyFund
£3,000
Joss Searchlight
£3.000
Keech Hospice Care
£2,000
Kidney Research Uk
£3,000
Kids Can Achieve
£2.500
Leeds Childffn's Hospital Charity
£1.500
Living Paintings Trust
£3.000
London Philharmonic Orchestra
£2.000
Megan Baker House
£3,000
Museum of London
£2,000
Naomi House & Jacksplace
£2.000
New Vic Theatre
£1,500
Otakar Ktaus Music Trust IOKMT)
£500
Polka Theatre
£3,000
Rainbow Trust Children's Charity
£2,500
Reuben's Retreat
£1,500
Sebastian's Action Trust
£1,500
Sense
£2.000
SHINE (East Norfolk)
£3.000
SHINE Icambridgeshirel
£2.000
Sick Children's Trust
£2,000

JOHN HORNIMAN'S CHILDREN'S TRUST
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Continuedl......
Strongbones Children's Charitable Trust
£2,000
Theatre Troupe
£2,000
Tiny rims Childrens Centre
£2.250
Welsh National Opera
£3,0(NJ
Wnizz-Kidz
£1.5CK)
)thoopsadaisy
£4.000
Wingate Centre
£1,500
Financial Review
The Trust is reliant on the income from its investments, the income from which was £52,94512023
£54.7061. There were nel realised and unrealised gains on investments of £33,58212023 £53,306)-
P8yment of grants during the year tolalled £111,250 12023 . £121,750}. The balance of funds at
31 December2024 was £1,378,51712023.' £1,433,588).
Investment Policy
The Trust's investment strategy was changed following approval by the Charity Commission lo the
use of a Total Return approach on the permanent endowment. Our investment advisors use a
discretionary management basis and have been instructed to invest in a portfolio which will maximise
the Total Return with medium risk. The Trustees have adopted an ethical investment policy and have
instructed our investment advisors to exdude investments in companies involved in the following
areas..
The production or dealing in armaments
Businesses whi¢h are deemed harmful to the environment e.g. oil production and mining
Gambling
Pomography
Companies which have a questionable human rights history.
Reserves Policy
The Trustees aim to receive an annual income from investments of £80,000, to retain an amount to
m￿t commitments for grants.
The Trustees may also apply some of the unapplied total relum to respond to applications for grants
and lo cover support costs. Unrestricted funds at 31 December 2024 amounted to £376,354 12023
£392.5601 of which £368,711 {2023.. £377,464) was represented by investments.
The Trustees consider that the current level of reserves is adequate lor the needs of trie charity.
Rlsk Management
The Trustees have reviewed the major risks lo which the Trust is exposed and are satisfied that
systems are in place to miligate the exposure to these risks.

JOHN HORNIMAN'S CHILDREN'S TRUST
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Continuedl......
Plans for the Future
To continue the present policy relating to grants and to decide on the level of grants made available
from total relum.
structure, Governance and Managemenl
The John Horniman Convalescent Home was established under a Declaration of Trust dated 26
December 1889,. 8 home for the reception, Care, treatment, edu¢alion and training of children who are
sick, convalescent, or have learning disabilities. From 1950, the premises were leased to the Invalid
Children's Aid Nationwide as a school for children with spee¢h and 18nguage difficulties. The school
was closed in 2003 and the premises sold in 2004,
The Charity Commission, by an order dated 12 May 2004, changed the name to John Homiman'¥
Children's Ttust and its objects were the relief of sickness and the advancement of education of
children who are sick, convalescent, or have leaming disabilrties.
The Charity Commission on 30 March 2005 permitted the Trust lo adopt a total return in relation to
the permanent 8ndowment investments. Trustees are appointed by the Trustee body and shall be
members of the Religious Society of Friends and may be re-appointed for further triennium. The
Charity Commission Order provides that there should be not more than nine and not less than three
Trustees.
The Trustees normally meet twice a year when they agree the broad strategy and areas of activity for
the Trust including consideration of grant making, investment. reserves and risk management policies
and performance. The day to day adminislralion of grants and the pro￿SSIng and handling of
applications is d818galed to the Secretary.
Induction
A Trustee who is newly appointed will have been well known to some Trustees. They will have been
made familiar with the objectives and activities.
Trustees. Responsibilities in relation to the Financial Staternents
The Trustees are responsible for preparing the Trustees. Annual Report and the financial statements
in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practi¢el.
The law applicable to charitie5 in England & Wales requires the trustee5 to prepare financial
statements for each financial year which give a true and fair view of the slate of affairs of the charity
and of the incoming resour￿$ and applicab'on of resources of the charty for that period. In preparing
these financial statements, the trustees are required lo-
select suitable accounting policies and then apply them consislenlly..
observe the methods and principles in the Charities SORP 2019 IFRS 1021.,
make judgements and estimates that are reasonable and prudenL
slate whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial slaternents on the going concem basis unless it is inappropriate to
presume that the charity will continue in operation.

JOHN HORNIMAN'S CHILDREN'S TRUST
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Cor71inuedl......
The Trustees are responsible for keeping proper accounting re¢ords that disclose with reasonable
a¢curacy al any b'me the financial position of the charity and enable them to ensure that the financial
statements comply with the Charities Aot 2011, the Charity {Accounts and Reports) Aegulations 2008
and the provisions of the trust deed. They are also responsible for safeguarding the assets of the
charity and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
Audlto
Kingston Burrowes Audit Ltd took over the audit work of MYTUS Smith from 1 October 2024 and were
appointed auditors of the Financial Statements for the year.
On behalf of the Trustees
Paul Hoi h
Chair of Trustees
2025

Indop¢ndent Audttorfs Report to the Trustees of:
JOHN HORNIMAN'S CHILDREN'S TRUST
Opinion
We have audited the financial statements of John Horniman's Children's Trust {Ihe 'charity'} for the
year ended 31 December 2024 which comprise the Statement of Financial Activities, Balance Sheet
and notes to the financial statements, including a summary of significant accounting policies. The
financial reporting fmmework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finarpoial Reporting
Standard 8pplic8ble in the UK and Republic of Ireland (United Kingdom Generally Accepted
Accounting practi￿).
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its
incoming ￿$oUrceS and application of resources, including its income and expendilure. for
the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.. and.
have been prepared in accordance wth the iequirements of the Charities Act 2011.
Ba$1$ for opinion
We conducted our audit in accordance with International Standards on Audlllng IUKI IISAS (UK) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report_ We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the finar:-. .-
statements in the LSK, including the FRC'S Ethical Standard. and we have fvlfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit ev￿enCe we have
obtained is Skjfficient and appropriate to provide a basis for our opinion.
Conclusions relatlng to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going coneem
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charitable
company's ability to continue as a going cOn￿M for a period of al least twelve monlhs from when the
finan¢ial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going con￿rn are
described in the relevant sections of this report
other infomiation
The trustees are responsible for the other information. The other information comprises the
information included in the trustees, annual report. other than the financial statements and our
auditor's report thereon_ Our opinion on the fi'nancial statertients does not cover the other information
and, except lo the extent olheMise explicitly staled in our report, we do not express any form of
assuran¢e Conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so. consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or othe￿iSe appears lo be materially
misststed. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial ststemenls or
material misstatement of the other inft)rmalion. If, based on the work we have performed, we

Independent Auditorfs Report to the Trustees 01..
JOHN HORNIMAN'S CHILDRENS TRUST
Conlinued.....
conclude that there is a material misstslement of this other infomialton, we are required to report that
fact.
We have nolhing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities
(Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect with
the trustees, report., or
sufficient accounting records have not been kept,. or
the financial statements are not In agreement with the accounting records.. or
we have not received all the information and explanation5 we require for our audit.
Responsibilltles of trustees
As explained more fully in the trustees, responsibilities statement set out on pages 6 & 7, the trustees
are responsible for the preparation of financial Statements which give a true and fair view, and for
such internal control as the trustees determine is necessary lo enable the preparab.on of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concem, disclosin9, as applicable, matters ￿lated lo going concem and using the
going concern basis of accounting unless the trustees either intend lo liquidate the charity or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for tho audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in
accordance wrth regulations made under seclh)n 154 of thÈt ACL
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement
when it exists. Misstalemer¢ls can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to Influen￿ the economic decisions of users
taken on the basis of these financial statements.
Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design
procedijres in line with our responsibilities, outlined above, to delecl material misstatements in
respect of irregularities, including fraud. The specific procedLJres for this engagement and the extent
to which these are capable of detecting irregularities, including fraud is detailed below..
Enquiry of management and those charged with governance about actual and potental
liligalion or claims and the idenlificalion of non-compliance with laws and regulations.
Reviewing minutes of meetings of those Charged with governan￿.
Reviewing financial statement disclosures and testing lo supporting documentation to assess
compliance with applicable laws and regulations.
Auditing the risk of management override of controls, including testing journal entries and
other adjustmenls for appropriateness,. and assessing whether the judgements made in
making accounting estimates are indicative of a potential bias.

Indopendent Auditofs Report to the Trnstees of:
JOHN HQRNIMAN'S CHILDRENS TRUST
Continued.....
Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due lo fraud.
Professional scepticism in course of the audit and with audit sampling in material audit areas.
Because of the inherent limitations of an audit, there is a risk Ihal we will not delect all irregularities,
including those leading lo a material misslatemenl in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regu18tion is removed from the
events and transactions reflected in the financial statements, as we will be less likely to becom8
aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due
to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or
isrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website al: www.frc.org.uklauditorsresponsibilities. This description
forms part of our auditorfs ￿port.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the
Charilie$ (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we
might slate to the charity's trustees those matters we are required lo state to them in an auditorfs
rewrt and for no other purpose. To the fullest extent permitted by law. we do not accept or assume
responsibility to anyone other than the charity and the charlty's trustees as a body, for our audit work,
for this report, or ft)r the opinions we have formed.
308 Ewell Road
Surbiton
SU￿eY
KT6 7AL
Kingston Burrowes Audit Ltd
statutory Auditor
2025
Kingston Burrowed is eligible to act as an auditoi. in terms of section 1212 Companies Act 2006.
10

JOHN HORNIMAN'S CHILDREN'S TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEM8ER 2024
Unrestricted Endowment Total Funds
Fund
Fund
2024
Total Funds
2023
Notes
Income and endowments
Investment Income..
Dividends- UK & Overseas Equities
Interest- UK & Overseas Fixed Interest
Interest on cash deposits
Donations
Gift Aid
8,200
5,695
279
1,000
21,360
15,515
29,560
21,210
1,175
1,000
31,065
16,994
935
3,540
2,172
Totsl In¢ome
15,174
37,771
52,945
54,706
Expendlture
Cost of raising funds..
Inve5trnent man8gement costs
Expenditure on charitable activities.
Conference
Grants lo institutions
Support costs
2,485
6,759
9,244
8,699
3,868
111,250
8,618
3,868
111,250
17,236
121,750
15,305
8.618
Total expendlture
126,221
15.377
141,598
145,754
Net lexpenditurelllncome
before investment gainslllosses)
1111,047)
22.394
188,6531
(91,0481
Net Ilosses)Igains on invgstments
13,224
20,358
33,582
53,306
Net incomellexpenditure)
(97,8231
42.752
155,0711
(37,7421
Transfers belween funds
81,617
181.6171
Net movement In funds
116,2061
138,8651
155,0711
(37,7421
Reconciliation of funds
Total funds brought forward
392,560
1,041,028
1,433,588
1,471,330
Total funds carrigd forward
£376,354 £1,002,163 £1,378,517
£1,433,588
All income and expenditure derive from continuing activities.
The notes tsn pages 13 to 17 fomi part of these Financial Statements
11

JOHN HORNIMAN'S CHILDREN'S TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
Notes
2024
2023
FIXED ASSETS
Investments
1.370.874
1,418,492
CURRENT ASSETS
Debtors
Cash at bank- current account
1,660
15,380
9,683
9,683
17,040
LIABILITIES
Creditors.. amounts falling due within one year
2,040
NET CURRENT ASSETS
7,643
15,096
1,378,517
TOTAL ASSETS LESS CURRENT LIABILITIES
1.433.588
Provisions for liabilities and charges
NET ASSETS
10
£1,378,517
£1,433,588
The funds of the Charity
Endowment funds - Permanent
Unreslricled income funds
1,002,163
376,354
1,041,028
392,560
TOTAL CHARITY FUNDS
£1,378,517
£1,433,588
These Financial Statements have been approved by the TrLtstees and signed on their behall by..
Paul High
Chair of Trustees
Date.. LG .
2025
The notes on pages 13 to 17 form part of these Financial Statements
12

JOHN HORNIMAN'S CHILDREN'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of accounting
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements
have been prepared in accordance with Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in
October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic
of Ireland IFRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concem basis under the historical cost
convention with ilems re¢ognised al cost or transaction value unless otherwise stated in the
relevant note{sl to these accounts.
The significant accounting policies applied in the preparation of these financial statements are
set OLJI below. These policies have been consistently applied to all years presented unless
otherwise slated.
Income recognition
All incoming resources a￿ included in the Statement of Financial Activities when the charity is
legally entitled lo the income after any perfomiance conditions have been met, the amount can
be measured reliably and il is probable that the income will be received.
Investment income is earned through holdings of listed investments and includes dividends and
interest. Income from listed investments is recognised as the charity's right lo receive payment Is
estsblished. Bank interest is recognised on a receivable basis.
Donations are recognised when the charity has been notified of the amounts and the settlement
dale in writing and il is probable that the donor will fulfil their staled obligatKJns. If these
conditions are not met the donation is recognised when received.
Expenditure recognltlon
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Expenditure is recognised Whe￿ there is a legal or
constructive obligation to make payments to third parties, il is probable that the selllemenl will be
required and the amount of the obligation can be measured reliably. It is eategorised under the
following headings".
Costs of raising funds which comprise investment management fees relating to the
charity's portfolio of listed investments (Of the £9,244 expense in 2024. £2,485 was
charged lo unrestricted funds and £6,759 to endowment funds).
Expenditure on charitable activities which primarily comprise of grants to third parties in
furtherance of the charity's objects.
Grants are recognised as an expense when the trustees have agreed lo award the payment
without condition and the recipient hag a reasonable expectstion of receipt. Grant$ are paid out
of the charity's unreslricled funds.
Investments
Investments are recognised initially al fair value which is normally the transaction price excluding
transaction costs. Subsequenlty. they are measured al fair value (quoted market value on a
recognised stock exchange) with changes recognised in the Statement of Financ4al Activities rf
the investments are publicly traded or their fair v21ue can otherwise be measured reliabty.
13

JOHN HORNIMAN'S CHILDREN'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTINUED
1. ACCOUNTING POLICIES Cont...
Debtors and Creditors
Debtors and creditors with no slated interest rate and receDiable or payable within one year are
recorded al transaction price. Any losses arising from impairment are recognised in expenditure.
Fund accounting
Unrestricted general fvnds are those funds which are freely available for use in furtherance of the
objects of the charity and which have not been designated for specifi'c purposes.
Endowment funds represent those assets which must be held permanently by the charity. The
charity has adopted a total return approach to the investment of those funds. Investment
management costs and a proportion ofsupport costs are charged against endowment funds.
2. RELATEO PARTY TRANSACTIONS AND TRUSTEES. REMUNERATION
Trustees received no emoluments. Travel expenses lotalling £774 12023 £1,006) were
reimbursed to 912023 '. 111 Trustees.
3. INVESThIENT INCOME- COMPARATIVE INFORMATION
Unrestricted
Fund
Endowment
Fund
Total
2023
Dividends - UK and Overseas Equities
Interest- UK And Overseas Fixed Interest
Interest on cash deposits
8,362
4,561
486
22,703
12,433
449
31,065
16,994
935
13,409
35,585
48.994
4. SUPPORT COSTS
2024
2023
Secretary's salary and expellses
Website costs
Room hire and sundry
Governan
Trustees, expenses
Audilorfs remuneration
12,778
591
1,053
11,569
786
774
2,040
1,CH)6
1,944
17,236
15,305
Support costs are allocated equally between the Unreslricled and Endowment Funds. Of the
£15,305 support costs incurred in 2023, £7,652 was charged to Unrestricted Funds and £7,653
was charged to Endowment Funds.
Of the £145,754 total expenditure incurred in 2023. £131,784 was charged to Unrestricted Funds
and £13,970 was charged Io Elid0￿[rE￿i Funds.
14

JOHN HORNIMAN'S CHILDREN'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTINUED
5. FIXED ASSET INVESTMENTS
The types of investments held at 31 De￿rnber 2024 and 2023 and their market values were..
2024
2023
Shares in public limited ¢ompanies
Unit Trusts
Fixed Interest
600,372
331,408
381,695
625,743
363,859
401,816
1,313,475
1,391,418
Cash held by Quilter Cheviot
57,399
27.074
£1,370,874
£1,418,492
Historical cost
£1,109,371
£1,153,245
The investments are held in the UK.
The movement in market value during the year was..
Market value al 1 January 2024
Disposals al cost
Acquisitions at cost
Change in value in the year
Increase in cash awaiting investment
1,418,492
1116,813}
42,614
13,744}
30.325
1,465,884
1194,2631
174,270
135,1641
7,765
Market value at 31 December 2024
£1,370.874
£1,418,492
Of the £53,306 nel gain on investments in 2023, £12.045 related to unrestricted fvnds and
£40.761 related to endowrnenl funds.
6. DEBTORS
2024
2023
Prepayments
£Nil
£1,661
15

JOHN HORNIMAN'S CHILDREN'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTINUED
CREDITORS:
Amounts falling due within one year
2024
2023
Accruals
Auditors, Remuneration
2,040
1.944
£2.040
£1,944
APPLICATION OF THE POWER OF TOTAL RETURN
The Charity Commission penmrtted the Trust to adopt the use of total return in relation to its
permanent endowment investments on 30 March 2005. The power permits the Trustees to
invest the portfolio to maximise total return and to apply an appropriate portion of the total return
to income each year. Until the power is exercised to transfer a portion of unapplied total return
to income las disclosed bek)w), the unapplied total return remains invested as part of the
Permanent Endowment.
The investment fund and application of total retum to
pemianent endowment funds".
2024
2023
Unapplied total return
Add.. Investment retum." Dividends and interest
Realised and unrealised galnsl{losses)
841,028
37,771
20,356
865,585
35,585
40,761
899,157
16,7591
18,6181
941,931
16,3181
17,6521
Less. Investment management costs
Support costs
Unapplied total return before transfer to income
883,780
927,691
Less- Unapplied total return applied
181,6171
186,9331
Sublotal.- Unapplied total return as at 31 December 2024
Original value of gift
802,163
200,000
841,028
200,000
Permarsent endowment including unapplied total retum as at
31 December 2024
£1,002,163 £1,041,028
16

JOHN HORNIMAN'S CHILDREN'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTINUED
PROVISIONS FOR LIABILITIES AND CHARGES
Charitable
Commitments
Accrued
2024
2023
Material provisions and movement in provisions during the year
Commitments outstanding at 1 January 2024
New commitments charged to the SOFA in the year
Grants paid in the year
111,250
{111.250)
121,750
1121,7501
Amount of the commitments at 31 December 2024
£Nil
£Nil
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Endowmont
Fund
Fund
Total
Investrnents
Current assets
Creditor5
368,711
9,683
12,040)
1,002,163
1,370,874
9,683
12,0401
£376,534
£1,002,163
£1,378,517
The endowment fund is a lund, which may be applied for the unrestricted purposes of the Trus(
as determined by the Tnjstees from time to time.
Comparative information for the anatysis of nel assets be￿een funds in the previous year is as
follows:
Unrestricted Endowment
Fund
Fund
Totsl
Investments
Current assets
Creditors
377,464
17,040
11,9441
1,041,028
1,418.492
17,040
(1,9441
£392,560
£1,041.028
£1,433,588
17