Huddersfield Common Good Trust
Charity No: 231096
Huddersfield Relief in Sickness Charities Charity No: 223333
Huddersfield Cinderella Society and E. Austen Johnson Trust Fund Charity No: 224085
Annual Report and Financial Statements For the year ended 31[st] March 2024
Huddersfield Common Good Trust
Huddersfield Relief in Sickness Charities
Huddersfield Cinderella Society and
E. Austen Johnson Trust Fund
Annual General Meetings
To be held at The Huddersfield Mission Lord Street Huddersfield HD1 1QA On
Monday 7th October 2024
A G E N D A
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1 Introduction by the Chair
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2 Apologies for absence
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3 Minutes of the Fifty Seventh Annual General Meeting of Huddersfield Common Good Trust and Huddersfield Relief in Sickness Charities
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4 Minutes of the 121st Annual General Meeting of Huddersfield Cinderella Society and E. Austen Johnson Trust Fund
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5 Chair’s Report
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6 Treasurer’s Report
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7 Adoption of Huddersfield Common Good Trust Accounts to 31[st] March 2024
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8 Adoption of Huddersfield Relief in Sickness Charities Accounts to 31[st] March 2024
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9 Adoption of Huddersfield Cinderella Society and E. Austen Johnson Trust Fund Accounts to 31[st] March 2024
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10 Appointment of Independent Examiner
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11 Any Other Business
Huddersfield Common Good Trust
Huddersfield Relief in Sickness Charities
Huddersfield Cinderella Society and E. Austen Johnson Trust Fund
Annual Report and Financial Statements
For the year ended 31[st] March 2024
| Contents | Page |
|---|---|
| Trustees and Advisors | 1 |
| Minutes of Fifty Seventh Annual General Meeting | 2 |
| Precis of the Objects | 5 |
| Chair’s Annual Report | 6 |
| Accounting Policies | 8 |
| Huddersfield Common Good Trust | |
| ~ Financial Statements |
9 - 12 |
| Huddersfield Relief in Sickness Charities | |
| ~ Financial Statements |
13 - 16 |
| Huddersfield Cinderella Society and E Austen Johnson Trust Fund | |
| ~ Notice of Annual General Meeting, Management |
|
| Committee and Advisors | 17 |
| ~ Minutes of the 121st Annual General Meeting |
18 |
| ~ Financial Statements |
20 - 22 |
Huddersfield Common Good Trust
Huddersfield Relief in Sickness Charities
Huddersfield Cinderella Society and E. Austen Johnson Trust Fund
Trustees and Advisors
For the year ended 31[st] March 2024
Trustees: V Javin - Chair R Butterworth E Oldfield A Haigh S Hollingworth R Beadle (appointed 3[rd] June 2024) P J H Hoyle Honorary Treasurer : P J H Hoyle, BSc. Honorary Solicitor: J. M. Fryer, LL.B, LL.M Ramsden Street, Huddersfield HD1 2TH Secretary: S Stott c/o. The Huddersfield Mission 3-13 Lord Street, Huddersfield, HD1 1QA www.hcgtrust.org.uk Independent Examiner: M Fielding, FCA c/o Simpson Wood Limited Bank Chambers Market Street Huddersfield HD1 2EW Investment Advisors: Rathbones
Page 1
Huddersfield Common Good Trust
Charity No: 231096
Huddersfield Relief in Sickness Charities
Charity No: 223333
Minutes of the Fifty seventh Annual General Meeting held at the Huddersfield Mission on Monday 2nd October 2023
PRESENT Ms V Javin Chairman Mr P J Hoyle Hon Treasurer Ms S Stott Secretary Mr R Butterworth Trustee Ms E Oldfield Trustee Mr A Haigh Trustee Mrs S Hollingworth Trustee
And 8 other listed on the attendance sheet
1 Apologies for absence
None
2 Minutes
The minutes of the Fifty Sixth Annual General Meeting had been circulated with the Agenda, Annual Report and Financial Statements. These were proposed be accepted as a correct record by Ms Oldfield and seconded by Mr Haigh.
3 Chairman’s Report
This had been circulated with the Annual Report. Ms Javin explained for the benefit of those attending about the structure of the 3 connected charities and the combining of the AGMs
4 Honorary Treasurers Report .
The Huddersfield Common Good Trust’ incorporates several charities. The two main charities are The Huddersfield Common Good Trust and The Huddersfield Relief in Sickness. The charities’ funds are invested in stocks and shares to provide income for distribution to local charitable groups. Today I am reporting on the year ended 31[st] March 2023.
I have printed a summary sheet covering all the main figures from the accounts for the last 3 years. My report will follow the summary.
Page 2
I can report that the total income received by all the associated charities has risen significantly from the previous year to £73,645 (£63,723). We were very pleased to receive donations of £89,875 as reported by the chair. These have been added to the trust capital. The total grants paid out has greatly increased to £73,585 from £34,515, as applications for grants increased following the end of the pandemic. Any income remaining at the end of one year can be carried forward to give away in the future. The market value of all the investments held at 31[st] March 2023 had fallen to a total of £1,700,444 from £1,749,000 last year with ongoing uncertainties.
Looking at the individual charities, for the year ended 31[st] March 2023, The Common Good Trust has total income of £43,286. After expenditure and grants this left a deficit of £10,501. There was a surplus on disposal of investments of £11,470 which gives a net surplus of £970. As mentioned, we were fortunate to receive donations of £89,875. These have been added to the Trust Funds, which now stands at £884k.
The Huddersfield Relief in Sickness Charities had income of £29,537. After expenditure and grants this left a deficit of £7,208. There was a surplus on the disposal of investments of £13,274 which leaves a net surplus of £6,066. This has been added to the Trust Capital, which now stands at £578k.
The third, much smaller, charity is The Cinderella Society & E Austen Johnson Trust Fund which has made a surplus of £881. There was an adjustment of £332 to the value of investments this year. Investment income shown in the accounts is down slightly at £822. No grants were agreed in the year. The net surplus of £881 has been added to the Trust Capital which stands at £50,276.
The market value of the investments held in all the charities at 31[st] March 2023 has fallen to £1,700,444, even after the donations received. However, it had fallen further to £1,619,000 by 24[th] August. It should be remembered that it is the income generated by the investments which is most important to us. The estimated income for this year was £70,000, and again income received exceeded this at £73,645. The estimated income for the current year is £72,000, which is a yield of 4.46%.
As I always seem to say, there is great uncertainty in the financial markets! The ongoing Russian invasion of Ukraine has continued this, together with rising inflation. To counter this inflation central banks have been raising interest rates, though this appears to be easing. There is also the ongoing threat of recession.
The investments are held in Government stocks and a well-balanced diversified range of blue chip investments. Our investment advisors feel that we have a solid portfolio, which should maintain its capital value over the longer term, whilst the level of income is reasonably stable at the present. The organisations we support will also be suffering in this crisis and many will need financial help. With costs increasing the value of individual applications is increasing. I feel that the income we will receive will be sufficient to enable us to help those organisations we would like.
Page 3
Last year we appointed Julian Holdroyd to continue as our Independent Examiner but sadly he passed away early this year.
I would like to thank Mark Fielding, who stepped in and has carried out the task of Independent Examiner of the charities’ accounts this year
.
It was proposed by Ms E Oldfield and seconded by Mr A Haigh that the Treasurer’s report and the accounts for the year to 31[st] March 2023 for both the Huddersfield Common Good Trust and the Huddersfield Relief in Sickness Charities be adopted. This was carried without dissent.
6 Appointment of Independent Examiner of Accounts
Although unable to attend the meeting Mr Fielding had intimated that he was willing to continue as the charities’ official Examiner. It was proposed by Mr Butterworth and seconded by Mrs Hollingworth that he be reappointed..
7 Any Other Business
Thanks were given for grants received by representatives of the following groups: -
Golcar Providence Chapel Linthwaite Methodist Church Armitage Bridge Cricket Club Peter Brook Centre Marsden Tennis Club Dalton St. Paul’s Church
The meeting closed with a vote of thanks from Ms Oldfield.
Page 4
Precis of Objects
Huddersfield Common Good Trust
The objects pursued by the Trustees are to apply the income of the Trust monies for any charitable purposes directed wholly or mainly for the benefit of groups within the County Borough of Huddersfield or in the immediate neighbourhood thereof.
Huddersfield Relief in Sickness Charities
The objects pursued by the Trustees are to apply the income of the monies of the charities for any charitable purposes directed wholly or mainly for the benefit of groups, within the County Borough of Huddersfield or in the immediate neighbourhood thereof, whose members are sick, convalescent, disabled, handicapped or infirm, etc.
Huddersfield Cinderella Society and E. Austen Johnson Trust Fund
The objects pursued by the Officers are to brighten the lives and alleviate the conditions of the poor and neglected children, and also the adult poor (without regard to religious or political opinions), of Huddersfield and District in all such ways and by all such means as from time to time may be deemed necessary.
Statement of Trustees’ Responsibilities
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of its financial activities during the year then ended. In preparing those financial statements, the Trustees are required to:-
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~ Select suitable accounting policies and then apply them consistently;
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~ Make judgements and estimates that are reasonable and prudent;
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~ State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
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~ Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
Page 5 Chair’s Annual Report Of
The Huddersfield Common Good Trust The Huddersfield Relief in Sickness Charities and The Huddersfield Cinderella Society and E Austen Johnson Trust Fund
For the year ended 31[st] March 2024
Consolidation and maintaining stability have been the key drivers of the Trust’s work during the last year.
Once again, global events have tested the charities’ approach to their long-term investment strategy presenting a challenge for trustees and advisors to ensure both the long-term security of funds whilst delivering appropriate levels of income. For many community and voluntary organisations, pressure on funding remains relentless. Public sector funding constraints continue to see increased demand on services provided by the voluntary sector and charities.
Despite uncertainties in the wider economy, many organisations are working hard to improve facilities and equipment in order to maintain and in many cases, extend their work particularly with young people, the elderly or disabled and among the vulnerable and marginalised members of society.
By spring 2024, market conditions had improved after a difficult first half of the financial year. But with elections due in both the UK and the US, increased tensions in the Middle East and interest rates and inflation providing the dominating themes in the financial markets, ongoing volatility seemed likely.
Trustees continue to consult and take advice from investment managers Investec (now Rathbones) on how best to mitigate adverse conditions which could affect the charities’ fund performance in what remains a difficult market.
During the year, the Trust awarded grants totalling £52,258 to 22 groups compared with a total of £73,585 to 19 groups in the previous year.
The charities have contributed to the rebuilding and major upgrading of village halls and sports clubs, helped voluntary groups replace boilers, kitchen and office equipment and supported groups wanting to extend their seasons or improve their facilities by installing floodlights, irrigation systems, storage units or new sight screens. Outdoor furniture, craft materials and sewing machines have all featured in grant-giving to aid groups tackling issues faced by those living with dementia or dealing with isolation.
As ever, the work of HCGT and its associated charities has been delivered by a small group of volunteer trustees with the support of secretary Susan Stott. My thanks to all of them for their continued professionalism and commitment to the work of the Trust.
Page 6
During the year, Jacqui Goff stood down as a trustee due to a move outside the area. My thanks to Jacqui for her contribution, particularly in the area of social care. After a skills audit, the trustees invited Huddersfield businessman Mr Raj Beadle to fill the trustee vacancy. The next five year rotation plan was agreed which will ensure stability of board representation.
In order to streamline the agenda for the annual meeting, trustees agreed to amalgamate some sections of the paperwork for the different charities with the exception of the financial reports for each fund which will continue to be represented separately. The trustees also welcomed Mr Mark Fielding as the new independent examiner for HCGT and its associated charities.
Val Javin Chair
Page 7
Huddersfield Common Good Trust
Huddersfield Relief in Sickness Charities
Huddersfield Cinderella Society and E. Austen Johnson Trust Fund
Accounting Policies
For the year ended 31[st] March 2024
The accounting policies used by each of the above Trusts in preparing the financial statements, which have been prepared under the Historical Cost Convention, are set out below.
i) Investments
Investments are stated at cost. Provision is made for any estimated permanent diminution in value. Profits/(Losses) on realisation of investments are dealt with in the Income and Expenditure Account.
All investments are held in the names of various nominees.
ii) Income
Dividends, other income and legacies are included in the Income and Expenditure Account at their gross amount on a receipts basis.
iii) Grants
Grants are approved by the Trustees and included in the accounts on a cash paid basis.
Page 8
Huddersfield Common Good Trust
Income and Expenditure Account
Year Ended 31 March 2024
| 2023 £ Income 89875 Gifts, Donations and Legacies 43250 Investment Income (gross) 36 Bank Interest 133161 Total Income Expenditure 3000 Secretary's Salary 470 Office / Meeting Room Costs 0 Independent Examiner's Fee 82 Bank Charges 472 Other 5763 Commission Paid 89875 Legacies transferred to Capital 0 Income tax deducted 99662 Total Expenditure 33499 Available for Distribution Charitable Donations 44000 Grants per Schedule (10501) Excess / (Deficiency) of Income 11470 Surplus / (Deficit) on Sale of Investments 969 Surplus / (Deficit) for the Year Page 9 |
2024 £ 550 43613 21 |
|---|---|
| 44184 | |
| 6000 470 0 77 337 5864 550 0 |
|
| 13298 | |
| 30886 28258 |
|
| 2628 7733 |
|
| 10361 | |
Huddersfield Common Good Trust
----- Start of picture text -----
Balance Sheet
As at 31 March 2024
2023 2024
£ £
Trust Capital
793365 Balance at 1 April 2023 884209
969 Surplus / (Deficit) for the Year 10361
89875 Legacies transferred to Capital 550
884209 Balance at 31 March 2024 895120
884209 895120
Represented by
881546 Investments at Cost 889935
Market Value
2023 2024
£996,845 £1,019,185
Current Assets
2428 CAF Bank 4950
235 Prepayment 235
2663 5185
Current Liabilities
0 CAF Bank 0
884209 895120
----- End of picture text -----
Signed on behalf of the Trustees on September 2024
V Javin P J H Hoyle Chairman Hon Treasurer Page 10
Huddersfield Common Good Trust
Schedule of Grants
Year Ended 31 March 2024
| Aspire Berry Brow AFC Birkby Rose Hill CC Friends of Honley Library Greenfields Family Centre Gwennie's Getaways HCS Voices Hive Huddersfield Mission Kubatana Lascelles Hall CC MHA Communities Kirklees Milnsbridge Bowling Club Pakistan Association Sharing Memories Thongsbridge C & BC Year Ended 31 March 2023 Armitage Bridge Cricket Club Hepworth Band Hepworth Community Association Holmbridge Cricket Club Holmfirth Cricket Club Huddersfield R U F C Linthwaite Methodist Church Marsden Tennis Club Providence Methodist Church, Golcar |
£ 1669 1500 4500 2000 880 500 250 750 874 360 5000 655 4500 3000 320 1500 |
|---|---|
| 28258 | |
| £ 5000 5000 5000 5000 4000 5000 5000 5000 5000 |
|
| 44000 |
Page 11
Independent Examiner’s report to the Trustees on the accounts of
The Huddersfield Common Good Trust
For the year ended 31[st] March 2024
I report on the accounts of the charity set out on pages 9 to 11.
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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directives given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s statement
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:
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1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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2) the accounts do not accord with those records.
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.
M Fielding, FCA
***[th] September 2024
Page 12
Huddersfield Relief in Sickness
Income and Expenditure Account
Year Ended 31 March 2024
| 2023 £ Income 29501 Investment Income (gross) 36 Bank Interest 29537 Total Income Expenditure 3000 Secretary's Salary 4080 Commission Paid 80 Bank Charges 0 Income tax deducted 7160 Total Expenditure 22377 Available for Distribution Charitable Donations 29585 Grants per Schedule (7208) Excess / (Deficiency) of Income 13274 Surplus / (Deficit) on Sale of Investments 6066 Surplus / (Deficit) for the Year |
2024 £ 28790 21 |
|---|---|
| 28811 | |
| 0 3850 64 0 |
|
| 3914 | |
| 24897 24000 |
|
| 897 11177 |
|
| 12074 |
Page 13
Huddersfield Relief in Sickness
Balance Sheet
As at 31 March 2024
| 2023 £ Trust Capital 572588 Balance at 1 April 2023 6066 Surplus / (Deficit) for the Year 578654 Balance at 31 March 2024 Represented by 573781 Investments at Cost Market Value 2023 2024 658,025 668,019 Current Assets 4873 CAF Bank Current Liabilities 0 Sundry Accruals 578654 Signed on behalf of the Trustees on September 2024 |
2024 £ 578654 12074 |
|---|---|
| 590728 | |
| 584968 | |
| 5760 | |
| 0 | |
| 590728 | |
V Javin P J H Hoyle Chairman Hon Treasurer
Page 14
Huddersfield Relief in Sickness
Schedule of Grants
| Schedule of Grants | |
|---|---|
| Ended 31 March 2024 Almondbury Methodist Church Crosland Moor Bowling Club Golcar Cricket & Athletic Club Longley Community Sports Club Milnsbridge Village Hall Wilshaw Village Hall |
£ 3000 5000 3000 5000 5000 3000 |
| 24000 |
Year Ended 31 March 2024
Year Ended 31 March 2023
| 1st Holme Valley Scouts Cartworth Moor Cricket Club DASH Denby Dale Bowling Club Marsden Royal British Legion Oasis Care Support Peter Brook Centre Scholes Cricket Club St John's Church,Golcar St Paul's Methodist Church, Dalton |
4000 2200 1645 5000 3700 1000 5000 3540 1000 2500 |
|---|---|
| 29585 |
Page 15
Independent Examiner’s report to the Trustees on the accounts of
The Huddersfield Relief in Sickness Charities
For the year ended 31[st] March 2024
I report on the accounts of the charity set out on pages 13 to 15.
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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directives given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s statement
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:
-
3) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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4) the accounts do not accord with those records.
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.
M Fielding, FCA **[th] September 2023
Page 16
Huddersfield Cinderella Society and E. Austen Johnson Trust Fund
Charity No: 224085
One Hundred and Twenty Second Annual Report and Summary of Accounts
For the year ended 31[st] March 2024
To be presented to the Annual General Meeting to be held at The Huddersfield Mission Lord Street Huddersfield HD1 1QA
Monday 7th October 2024
Chair V Javin Honorary Treasurer : P J H Hoyle, BSc., Honorary Solicitor: J. M. Fryer, LL.B, LL.M Ramsden Street, Huddersfield HD1 2TH Secretary: S Stott c/o. The Huddersfield Mission 3-13 Lord Street, Huddersfield, HD1 1QA www.hcgtrust.org.uk
Investment Advisors: Rathbones
Page 17
Huddersfield Cinderella Society and E. Austen Johnson Trust Fund Charity No. 224085
Minutes of the Annual General Meeting held at the Mission. On Monday 2[nd] October 2023
Present: - Ms V Javin in the chair Mr P J H Hoyle Hon Treasurer Ms S Stott Hon Secretary Mr R Butterworth Mr A Haigh Ms E Oldfield Mrs S Hollingworth
Apologies: None
Minutes
The minutes of the Annual General Meeting held on the 10th October 2022 were read and accepted as correct, Proposed by Mrs Hollingworth and seconded by Mr Butterworth.
Treasurer’s Report
For the year ending 31 March 2023 the fund has made a surplus of £549. There was an adjustment to the value of Investments of £332. Investment income shown in the accounts is less than 2022 at £812. The only administration expense is commission paid which was similar to the previous year at £273. No grants were made in the year. The net surplus of £881 has been added to the Trust Capital which stands at £50,276.
The value of the investments fell from £46,264 to £45,574 and is all held in Government Stocks. These stocks are very safe but have not performed well in the recent market conditions. Otherwise the fund is in a healthy position.
Page 18
Appointment of Independent Examiner
Mr Hoyle explained that Mr Holdroyd had unfortunately passed away during the year, but we had been fortunate in obtaining the services of Mr Mark Fielding to take his place as Independent Examiner. Mr Hoyle thanked Mr Fielding for stepping in and for his work in preparing the accounts.
Mr Butterworth proposed and Mrs Hollingworth seconded that Mr Mark Fielding be the Examiner for the next year
Any Other Business
None
-------------------------- date ----------------------------------- Chairman
Page 19
Huddersfield Cinderella Society and E Austen Johnson Trust Fund
Receipts and Payments Account
Year Ended 31 March 2024
| 2023 £ Income 812 Investment Income (gross) 10 Gifts, Donations and Legacies 822 Total Income Expenditure 273 Commission Paid 0 Legacies transferred to Capital 273 Total Expenditure 549 Available for Distribution Charitable Donations 0 Grants per Schedule 549 Excess / (Deficiency) of Income 332 Adjustment to value of Investments 881 Surplus / (Deficit) for the Year |
2024 £ 1012 10 |
|---|---|
| 1022 | |
| 275 0 |
|
| 275 | |
| 747 0 |
|
| 747 (490) |
|
| 257 |
Page 20
Huddersfield Cinderella Society and E Austen Johnson Trust Fund
Balance Sheet
| 2023 £ 49395 881 0 50276 47852 2424 50276 V Javin Chairman |
As at 31 March 2024 Trust Capital Balance at 1 April 2023 Surplus / (Deficit) for the Year Legacies transferred to Capital Balance at 31 March 2024 Represented by Investments at Cost Market Value 2023 2024 45,574 48,752 Current Assets Barclays Bank P J H Hoyle Hon Treasurer |
2024 £ 50276 257 0 |
|---|---|---|
| 50533 | ||
| 47362 3171 |
||
| 50533 | ||
Page 21
Huddersfield Cinderella Society and E Austen Johnson Trust Fund
Schedule of Grants Year Ended 31 March 2024
£
0 Year Ended 31 March 2023 £ 0 Page 22