mailes Goldie CHAR TERED ACCOUNT ANIS Charity number 224193 The Hull Aid In Sickness Trust Financlal Statements 30th August 2023 SD021410&1 ICAIW CHARTERED ACCOUNTANTS Smoiles Goldie 18 a trading name of Smalle8 Goldle Partnership. h*r.
The Hull Aid In Sickness Trust Contents Pag• Rgference and Admlnl8trallv6 Informatlon Tru8te88' Report Independent Examlnef s R8port Sialemenl of Flnan¢lal A¢llwtles B818ncè Sheat Not88 to the Finandal Slatom8nts 10-12
The Hull Aid In Sickness Trust Reference and Administrative Information for the year 8nded 30th August, 2023 Namo of Charlty: The Hull Aid In Sickness Trust Charity Roglslratlon No.: 224193 Prlnclpal Addross: The Strand, 75 Beverley Road, Hull, HU3 1XL Trusteas., Co-optatlve Trustsos: Reverend J Allen Bagshawe Mrs Valerie Horspool (deceased 1510912023) Mr Peter J D Brewer Honorary Ald8rman Mrs Patricia Ellis Mr John Roughley (resvJn8d 31110120231 Mr Tlmolhy Durkin NomInatI Trustw: Councillor Conner Bankers: Natwest Bank Pl¢. 34 King Ethard Street, Hull, HU13SS B8verley Building Soci8ly, 57 Market Place, Bevedey, HU17 8AA (account closed 0510112023) Virgin Money, 10-12 Paragon StTe8t. Hull. HU13ND Indepgndent Examln•r: Smalles Goldle, Regents Court. Prlncess Street, Hull, HU2 8BA Sollcitors: Gosschalks, Queens Gardens, Dock Street, Hull, HU13DZ Andrew Jackson Solicitors, Marina Court. Castle Strgel, Hull, HU1 1 TJ Invèstmont Advl80rs Castlefield, 9, Floor, 111 Plccadllly. Manchester, M1 2HY Clerk to th? Trustoès Hull CVS Ltd. The Strand. 75 Beverley Road. Hull. HU3 1XL.
The Hull Aid In Sickness Trust Trustees Report for the year ended 30th August, 2023 The Tnjstees present their report along wlth flnancial statements Of the charity for the year ended 30 August 2023. The financial statements have been prepared in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accountlng Pr8cti¢e). Govornlng Document The charity was fomied on 30 August 1957 and 18 regulated by a schem& of the Charfty Commissioners dated 2 January 1973 and as affected by resolution made und8r s74 of the Charitios Act 1993 on 251h Mgy 2011. The Trust do85 not actively fundraise and seeks to continua its charitable work through the careful management of Its exlstlng resourcts. Trustees Cortlllcato of Incorporatlon A Certificate of Incorporation was granted lo the Trustees by the Charity Commissioners dated 18th November 1993 Sn the name of 'The Incorporated Trustees of the Hull Aid in Sickness Trust,. Trust••8' R•spon81bllltlo8 The Trustees are r8sponsible for preparfng the Twslees. Report and the financlal statements in accordance with applicable law and Unlted Klngdom Accountlng Standards (Unlled Klngdom Generally Accepted AOuntIng Practice). The law applicable lo chanlies in England and Wal8s requires the TTUStees lo prepare financial statements for each flnancial year which glvè a truè and fair view of the stat8 of affairs of the charity and of the incorning resources and appll¢atlon of resources of the charlty for that year. In preparing these finan¢lal statem8nts, th8 Trustees a requlred to.. select suitsble accountlng policies and Ihen apply Ihem consi8tentty', obseNe the methods and principles in tho Charities SORP; mak8 judgements and eslimaleg that are reasonable and prudent., 8t8le whether 8ppllcable accountlng standards have been followed, subject to any material departures disclosed and explained in the financial statements., Prepare the financlal statements on a going concern basis unless It is Inappropriate to prosum8 that the charity will continue in operation. The Truslees are responsible for k8eplng accounting cOrdS that dlscbse wlth reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial sialements comply with the Charitios AGI 2011, the Charity (Accounts and Reports) Regulations 2008 and the provislons of th8 trust deed. Th8y are also responsible for safeguarding the assets of the charity and hence for taking re8sonable steps for the provontlon and d8t8ctlon of fraud and other irr8gulariti8s.
The Hull Aid In Sickness Trust Trusteas Report for tho ygar gnded 30th August, 2023 Co.optatlv• and Nomlnatlve Trustees: The Co-OPtaliv8 Trustees are appointed by the board of TNst86s for a term of flve years after which they may put themselves forward for re-appointment. The Nominativé Trustee is appointed by the Kingston upon Hull City Counc51 for four years or 81 th8 dlscretion of the Council, and may then bg re-appointed. The Trust's goveming document provld8s for 6 Co-optative Trustees and 1 Nominative Trustee. The TNst's Scheme dictates that Co-optatlve Trustees must be persons who through resldence, occupation or employment, or oth8TWIS8, have special knowledge of the City and County of Kingston upon Hull. C8ndid8t8s for the posl wlll have been personally recommended, ask8d to provide a written 8ynopsis d8talllng their skills, knOedge and 8xperi8nce. Each candldat8 wlll be provKJed wlth a Trustees 'Enquiry Pack, contalnlng copies of the Trug18e8 fD18 descriptSon, the 'Essentl81 Trustee,, rec8nt Trust Minutes and Trustees Annual Report 8nd Financial Slatemenls, and the Trust's History. The Trust's Scheme, all of the Trust'8 policy and procedural documents, and a copy of 'Chariti&s and Publlc Benefit, are provid&d once elected and new Trust8es must also slgn a 'Declaration of Eligibility for Ngw TTUStee8'. The Tru$te&s meet everyquarteTto considerthe grants, investments, reseTves and risk managemenl of the Trust. Any reviews from the Investment Manager, or changes to assets will also be r8vlewed b8twe8n meellngs as needed. The day to day admln18trallon of thg ¢harfty is und8rtak8n by Hull CVS, whlch 1$ responsible for the malntalnlng of Ihe records of the Trust and preparing appllcatlons and other documents for conslderallon by the Trustees at thelr meetings. All Trusle8s giv8 of their time fre8ly and no Trustee remuneration was Pald In the year. D8talls of Trustee 8XP8nses are d16closed In Not8 6 to the Accounts. Trustees are expected to withdrdw from declshJn8 wh6re 8 confllct of Intere8t arises. Rlsk Manag•mont The Trustees have considered and idenllfied all risks to whlch the Trust Is exposed gn¢J have established systems 8nd procedur8S to manage Ihose risks. The TTUSte89 conslder the variabillty of Inve8tment returns on the Trust's endowrnent funds to constitule the Charity's major financial r18k as the Trust Is depend8nt entlrely on thls Income and has no other Income source. The TTuslee8 amploy an Inveglment M8nager to handle the Trust's investments on the basis of an agreed investment strategy for an ethic81 bespjke portfolio and in 8ccord8nce with Ihe TTU8t's Inv8strnent Policy. Reports and valuations of the Trust's holdings are provlded for con8lder8tion 8t 8V8ry quarterly meetlng. The Trust's m8jor operallonal risk18 th8 unpredSctablllly of grant applicatlons on an annual basls, partlcuL8rly those received from individuals. The TTu$tee$ manage this risk with promotion of the charity's grant maklng acllvities to all thre8 of tho Trust's main beneficiary groups whenever any reduction in indlvldual application numbers is recorded. Reporting and revlew of applications at every Trust meeting also gives opportuniti65 throughout the year lo d8lermlne if Irther promotional responses are qUIred 8nd gives greater flexibility lo the Trust's charitabl8 activlties.
The Hull Aid In Sickness Trust Trustees Report for the year endecl 30th August, 2023 Objectives for tho publlc beneflt The object of the TTUSt is to apply clear income of the Charity in relleving in Cases of need persons resldent in the City and County of Kingston upon Hull ar6 sick, convalescent, disabled, handicapped or inf1rm by provldbng or paying for items, services or facilities which 8re calculated to allevlate the suffering or assist recovery of suth persons in such cases bul that are not readl available to them from other sources. The Trustees confimi that they have referred to the guldance contsined in the Charity Commission's general guidance on public benefltwhen reviewirYJ the Trust's aims and objecllves and in planning future activities. Rostrictlons In applying the income of the Charity the Trustees shall observe th8 follDwlng restrictions.. 1. they shall not apply any part of the income dSrectly for the religf or assistance provided out of publlG funds. 2. they shall not ¢ommit th6mselves to repeal or renew relief granted on any OCGa5ion in any case. Actlvllles durlng th• y•ar Thg Trustees continue to meet physically for the purpose of overseeing the general management and operation of the Trust and Its portfolio of Inve$tm8nts and glvSng consideration to appllcallons for flnancl81 assistsnce. Grant maklng pollcy The Trust has established its grant maklng policy lo achleve Ils objects for the public ben9fit In aiding those detalled In Its Scheme, and defined In Its objects as follows.. Grant de lo individuals.. The Trust considers appllcalions for grants by indlviduals who fulfil the criteria given in its objects and who ¢8n demonstrate their need by complellng the Trust's applicallon fom and signing ils declaratlon, and by supplylng supportlng evldence and Information. All appllcants wlll complete a suitable applicalk)n fom and declaration, which wlll be consldered at the next Trustees meeting. The Tru8tee8 reserye the rfght to whdraW from future funding if they are, 8t any time not satisfied that. Grants madg to Social Worker Teams.. Throughout the year the Trust welcomed but did not receive any requests from local Social Workers 8Ctlng on behalf of agencies approved by the Trustees to be awarded a small sum for further disbursement amongst thelr cllent8, and at their discretlon, in c88es of need. They must. on every oG¢asK)n. provide documentary evKlen¢e demonstrating how grants prevN)usly approved have been utilisod and fvlfilled the objects of the Trust. Grants made t nches of other ari ns.. Submission of a Summary of how any grant made would be used must be provlded by any or9anisations requesting grants and this use must fulfil the criteria of providing a health benefft to those in noed and are residents of the City and County of Kingston upon Hull only.
The Hull Aid In Sickness Trust Trustees Report for the ye8r end8d 30th Au9usI, 2023 Achlevements and Perfornianc How our grant making wlicy delivered public b8néfit - A review of our achlevements and performance: The lotsl value of all fonns of grants for th1$ year Incrèased. The trust prlorltlses grant awards to Indlvlduals and soo181 worker t88ms and makes awards to organlsatlons only wher8 they feel they have the ¢ap8city to do so. Grant awards w•r• approvod by the Trusloos thls yoar as follows, and d•tailod In Not• 3 to Iho Accounts: A total of 13 Indlvidu81 applicants wpre approved for a grant following the recelpt of new and satisfactory applications.
No grants were awarded via the Special Fund for Individual Applicants followSng th& r8celpt of a n8w and satlsfactory applicatlon. The number of charitable organl$8tlons approved th1$ y8ar was 3, each appllcallon was car8fvlly discusS8d lo ensure that they fulfllled the Trust's criteria. No Grants wore awarded to soclal worf(er teams al local agen¢l8s during the year for dlsbursements In smaller amoun16 to Hull petlents who need urgent asslst8nce. Flnanclal Revlèw The Twsl is lotslly reliant upon th8 incom& receiv8d from the Investments held by the charity and the finan¢lal objective18, wher8 Possible, to distribute this income after meeting all expenses. to the beneflckqrles of the Trust in th8 fomi of grants that achieve our oblects for the public benefit. Dividend Income, whlch form8 the bulk of th8 Trust's Income, has Increased thls year to a total of £37.20012022- £35.7671. The Trust's other source of income from Bank and Building Society accounts increased thlg year to £21012022 - £551. Together divldends and bank in18resl created overall income for the Trust thls year of £37.410 (2022 - £35,822), an increase of around 4.43 /0 from the last financl81 perlod. The Trust's Statement of Finan¢lal Activtttes on page 8 shows that th13 year th8re was 8 resultant 8urplu8 of £6,304 {2022 £5,414}. This was due to a dCed number of requests for support compared to the prevlous year, il was also noticed that in rolation to t curr8nt gltuatM)n there are other flnancial support options av811able to people. Support costs remained In line with last year, wth a small decrtase to Ihe Investment charges. aThJ a small inGrea5e in Smalles a0Unts charges due to the additional m88ting support in the year. Resgrvg Pollcy., Reserves in the fom of cash held on deposll are malnt8lned 8t 8 level sufficient to cov8r at least two quarters administration and support. These funds are Identlfied wfthin the aco)untS as Contingency Funds. The reseNe5 ar8 classrfied as part of the Trust's Unreslricted Fund but are designated for this speGific purpose.
The Hull Aid In Sickness Trust Trustees Report for thg year ended 30th August, 2023 Inv•stmont Pollcy and Performance This financial period the Twst'g Investment Manager. Castlefield have managed the portfolio in line with the Trust's Investment Policy and agreed objectives. Note 8 of the notes lo the financial statements highllghts the over811 v81ue of movements in the investment portfolio. These values Indic8te the changes necessary to meet th8 Trust's investment objectives in the current financlal Glimate and beyond, whi18t still providing a level of monthly income that will allow the Trust to continue to meet its charitable objectives. Th8 dlvldend Income thls year was Inllne wlth the predlcted valuation from Castlefield at the beginning of the period. The income level for this period has been adequale lo meet the TTUSt's admini$tr81ive 8nd charitable r8qulrements. The Investment Manager and the Trustees are now working lo review the potential Income from the portfolio over the coming year, to allow accuT8te 8nd realistic budgets lo be created. The current value of the portfollo Is £1,354,735, a posltbve movement of 0.420/0 from th8 stsrt of the flnancial year. The average yield from holdings is 2.74°/o r8cord8d as at thè year end. Futur• Plans The Trusla65 intènd to contlnue making grants in 8 simiLqr manner to that experienced over the past few years and wlth due consideratlon of the Public Benefit Guidance. Contlnued changes to local Services and lo charity guidance however m8ans that th8 Trustees intend to Gontinu8 to monltor working pr8cllces and the Trust's admlnlstratlve pollcy documents 10 8nsur8 thal lh8 Trust'8 funds and Its applScants remain protected. Investment Income will be monltored over the nexl financial year due to market uncertainly and the trustees wlll lake additional conslderatk)n as to the priority of each application much more carefully to ensure that they help the people who allY do need the funds should the Investment Incom& be lower than predicted. In order lo meet Its chatable need the board intends to manage the fund5 under their control in a prudent m8nner whi191 at th8 same time maximising income generation closely monitoring the Trusl's wrtfollo In conjunction with the Inv88trnent Manager. Addltlonal Nole 11 was wilh gre81 sadness that we r8celv8d the news Ihal Val Horspool had died on 15th Septemb8r. Val was a long-standing trustee of Hull Aid in Sid(ness Trust and was very well respected for her work in this capacity. She brought a sons& of balanc8 to all the decisions which the trustees had to make and. above 811. a deep compassion for all applicants who cam8 lo us asking for help. Her work for the Trust along wlth her work for Dove House and as a social worker in gen8ral was reflected In the servlce to celebrate her life held at St. Andrew's Church, Klrk Ella on 6th Octob8r. - Chaimian 281512024 On behalf of the board ol Truste8$
Independent Examiner's Report to the Trustees of The Hull Aid I n Sickness Trust I report to th8 charity trustees on my examination of the accounts of the charity for the year erKled 30th August 2023 which are sel out on pages 8 to 12. Responsibilitios and ba$ls of report A8 the ¢harity's trust86s you are responsible for the preparatlon of the accounts in accordance with the requiremenls of th8 Charllles Ad 2011 {Ihe Act,). I report in re8POCt of my examinatlon of the charlty's accounts c8rrf8d OLrt under Section 145 of th8 Act and in carrying out my examln8tlon I have followed all the appllcable Directions given by the Charity Commission under section 14515Xbl of th& Act. Independont •xamln•r'$ statement I hav6 comp18ted my examination. I conflrm that no materfal matters have ¢ome to my attentlon In connection with the examln8tion giving me r2US6 to belleve that In any material resp80t-. 1. accounllng r8cords were not kept in respect of the charfty as required by section 130 of the Act., or 2. the 8ccount8 do Nt accord wlth those records., or 3. the accounts do not comply with the gpplkabla requlrements con¢ernlng the form and cont8nt of accounts set out Sn the Charities (Accounts and Reports) Regu1811ons 2008 other than any rèquirement that the gccounls give a 'lTue 8nd falr view. which is not a matter consldered as part of an Independent 8xamination. I have no concerns and have come 8¢ross no other matters In connect wllh th8 8xamlnatlon to whlGh attention should b8 drawn in thi8 report in order to enable a proper under8tandlng of the accounls to be reached. N Shlpley FCA Smalles Goldie Chartered Accountants Regent's Court Prlncess Street Hull HU2 8BA 30 May 2024
The Hull Aid In Sickness Trust Statement of Financial Activiti8S {incorporatlng an Income and Exp8ndlturn Account) for the year &nd8d 30th August, 2023 Unr8¥trictfjd Contingency Endowment Total funds Total funds funds funds funds 2023 2022 Note Incom• and •xp¢ndlturo Incomlng re8ourc•s from genoratad funds Activities for gènerallng fund8'. Rents recolved Dividends rec•ivgd Interest received 37,200 210 37,200 210 35.767 55 Tot81 Incomlng resourGes 37.410 37,410 35.822 RoBourc•s •xp•nd•d Raislng funds Charitable expencllture Support costs Govornan¢e cos18 9,604 11,909 7,151 2,442 9,604 11,909 7.1S1 2,442 10,044 11,457 7.151 1.756 Total re80urces expended 31,106 31.106 30,408 Nel Iwtgolnglllncoming sour¢e$ and movement in fvnds 6,304 5,414 Transler between funds Investment galns In year.. Realised Unrealised 18821 (4.4741 30,453 181.463} 29,571 13,6331 185,9371 1160,1911 Balances brought forward al 31 $1 August. 2022 223,208 10,000 1.239,068 1,472,376 1,630,786 Balances carried forward at 30th August. 2023 229.612 4,644 1.188.058 1,422.314 1.472.376 The notes on pages 10 to 12 fomi part of these Financial Statements.
The Hull Aid In Slckness Trust Balance Sheet al 30th August, 2023 Note 2023 2022 Flxod 89¥ets Tangible fixgd as$¢l$ Investments Investmènt Dealing Atxount 2,261 1.354.735 91 2,261 1,349,136 64,506 1.357,087 1,415.903 Current assets Cash al bank and in hand 74,893 69,598 74.893 69,598 Ll•bllltl•8: Amounts falllng du• wlthln on• yaar 19.8861 113,1251 Not us•t$ 1,422.314 1,472,376 Funds Unreslricled Conllng8ncy Endowment 10 229,612 4,644 1,188,058 223.308 10,000 1.239,068 1,422.314 1,472,378 Approved by Ihe Board of Truslggs on 18151 2024 and Slgned on its behalf by Ch•lr of th• Tru8t•o8 Vlce Chalr of tho Trustee# The notes on pages 10 to 12 fom part of these Flnancial Slalemgnts.
The Hull Aid In Sickness Trust Notes to the Financial Statements for the year endgd 30th August, 2023 Accountlng pollcles Accounllng conv•ntion The financlal slalemenls of the charity, which is a publlc benefit anlily under FRS 102, have been prepared in accordance with th8 Charilies SORP IFRS 102} A¢¢ounllng 8nd Reporting by Charities.. Stalem8nl of Recommended Practice applicablg lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihg UK and Republic ol Irèland IFRS 1021 leff8clive 1 January 2020}', and Financial R8POrting Standard 102 'The Financial Reportlng Standard applicable in the UK and Republio of Ireland,. The flnanci818lalemenls have been prepare¢J under the h18torical cost convention exc9Pt for the rovaluallon of Inv8slmenls. Voluntary In¢omo Cash donations, glfts 8nd1gggGies are included In lull in Ihe incom8 and expenditUTe account as they are received. Significant non cash donations are induded in the income and expenoliturfr account al the TnJstees' gstimale of Ihgir market value when received. The valu8 of voluntary help 18 not Included in the accounts. Investment Incom• Bank inl8rest and dividend inGomg is in¢lud8d in the Income and expenditur8 account on a cash l>a$is. d) Expèndlture Where expenditure is Incurred which relates to morg than one cost category. the 8xpendilure Is apportionad over all relevant h8adlngs. Inve8tment8 Inveslmonts are sla18d at market value al the balance sheet dat8. Th8 slal8m8nl of Ilnancial aCtilIeS includes thg not gains and losses on Tevalualion and disposals throughout the year. Tanglblè flxed assets Tanglble fixed assets comprfse land and buildings whith is inGluded at ¢o$t. Taxatlon Th8 association is a U.K. registered charity, number 224193. All the assoclation's income is applied lo its charitable objgclivas and the association is, IhoToforg, eX8mpl under current legislation from most foms of taxation. 10
The Hull Aid In Sickness Trust Notes to the Financial Statements for11)8 y8arended 30fh Augusl, 2023 Totsl 2023 Total 2022 Ralslng fund8 Investment manager's fees 9.604 10,044 10,044 Total 2023 Totsl 2022 Charltablo oxpgndltur• Grant• award•d: Indlvidual8 Special Fund for Individuals Social Worker teams Other charllable organisalions 4.533 2,593 7,376 8,829 11,909 11,457 Totsl 2023 Total 2022 8upport costs ServlGe Contr8¢1 Tr8v81 &xpense8 InBuran¢e 7,000 7.000 151 151 7.1S1 7.151 Total 2023 Totsl 2022 Gov•rnanc• costs Accountancy fees Legal fee8 2.442 1.710 46 2,442 1,756 Total 2023 Total 2022 Trust9•$ •xp•ns•g Totsl amount paid The Trustee5 were not gntillBd lo and did not receive any other remuneratlon from the charity during the year. 11
The Hull Aid In Sickness Trust Notes to the Financial Statements for the year ended 30th August, 2023 Tanglblo flx•d a$s•ts The Trust owns land and buildings in Baker Street, fomieTly known as the Hull and S¢ulGoates Dispgnsary, now Igt to the Department of Health and Social Security for a 18mi of 99 y8ars from 1 August 1958 at an annual rental charge of £10 (freehold and 18asehold documentation lodged with Gosschalks Solicitorsl and with the condrtion that maintenance and Buildings Insuranc8 1$ upheld by the 18nant. InvlMent assets 2023 2022 Market value: AI 31S1 August 2022 Additions Proceeds of investments sold Net gainl{lossl- re81ised Not gainl{lo$sl- unrealised 1.349,135 240,805 1149.2681 29.571 1115,5081 1,46S.877 237,794 1190,7121 13,6331 {160,1911 At 301h August 2023 1,354,735 1,349,136 Indlvldual Inv8slrn9nls ex9ding 50/0 by value of the portfollo werg as follows-. 2023 2022 Conbrio FD Flr81 Senli8r 211,236 100,043 290,245 120,185 311,279 410,430 Unr•strlctsd Contlng•n¢y Endowm•nl Funds fund fund Total Funds 10. Fundi Al 31st August, 2022 Incoming Tesources for th8 year Outgoing resources for the year Transfers betw8en funds Realised gains on investments Unrealised gains on Snv8Stments 223,308 37,410 {31.1061 10,000 1.239,068 1,472,376 37,410 131,1061 {8821 {4.4741 30,453 {81.4631 29.571 185.9371 At 30th August, 2023 229.612 4.644 1.188,058 1.422,314 Ropr0$ont by: Tangible fixed assets Investments Cash held as part of investment fund Current as8el8 CUrnt liabilities 2,261 1,185,706 91 2,261 1,354,735 91 74,893 (9,6661 169,029 70,249 {9,666 4.644 229,612 4.644 1,188,058 1,422,314 12