E Smalles Goldie Ch•fity number 224193 Hull Aid In Sickness Trust Financlal Statements 30th August 2025 ICAIW CHAR TERED ACCOVNTANYS
The Hull Aid in Sickness Trust Contents Pag• Roferencè and Adminislralive Information Tru$le•$' Report Independ¢nt Examiner's R•port Siatarnént of Financial Acliviti&s 8alance Sheet Ngles 1¢ the Financial Slalemenls 10-13
The Hull Aid in Sickness Trust Reference and Administrative Information forthe y8ar ended 30th August 2025 Name of Charity: The Hull In Sickness Trust Charlty Reglstratlon No.: 224193 Prlnclpal Address.. The Strand. 75 8everley Road, Hull, HU3 1XL Trust•es.' Co-optatlve Trust•e8: Revefend J Allen Bagshaw& Mfs Valérie Horspool (deceased 1S109120241 Mf Peter J D Brewer Honorary Alderrnan Mrs Patricia Ellis Mr John Roughley ITesi9ned 31110120241 Mr Timothy Durkin Mr Alan Hardy Nomlnatlve Trusteè.. Councillor Burton (resigned 27101120261 Councillor Grozav (appointed 2710112026} Bankers.. Natsvest Bank Plc. 34 King Edward Street, Hull, HU13SS Virgin Money. 10-12 Paragon SITeet. Hull. HU1 3ND Independent Exarnlner: Smalles Goldie, Regents Court, Princess Street, Hull, HU2 88A Soll¢hors', Gosschalks, Oueens Gardens, Dock Street. Hull, HU1 3DZ Andrew Jackson SolicitOT5, Marina Court. Castle Street, Hull, HU1 1TJ Investmont Advisers Casllefield. 9th Floor. 111 Piccadilly, Manchestèr, M12HY Clerk to the Trustees Hull CVS Ltd, The Strand, 75 Beverley Road, Hull. HU3 1XL.
The Hull Aid in Sickness Trust Trustees Report forth8 ye8r&ndecl 30th August 2025 The Trustees present their report along with financial statements of the charity for the year ended 30 August 2025. The financial statements have been piepar8d in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted AcGounling Practice). Governlng Do¢um•nt The charity was formed on 30 August 1957 and is regulated by a scheme of the Charity Commissioners dated 2 January 1973 and as affected by resolution made under s74 of the Charities Act 1993 on 25 May 2011. The Trust does not actively fundraisa and seeks to continue its charrtable work through the careful management of ils existing resources. Trustees Certlflcate of IncorporalSon A Certificate of Incorporation was granted to the Trustees by the Charity Commissioners dated 18 November 1993 in the name of'The Incorporated Tru5tee5 of the Hull Aid in Sickness Trust,. Trustees, Responslbllltlos The TfUStee$ are responsible for preparing the Trustees. Report and the finanal statements in accordance wrth applicable law and Un'rted Klngdom Accounting Standards (United Kingdom Generally ACpIe Accounting Practice}. The law applicable lo charities in England and Wales requires the Tru51ees lo prepar8 financial statements for each financlal year which give a true and fair view of the stale of affairs of the charity and of the incomlng resources and appllcallon of reSoUrS of the charty for that year. In prepariro thes& financial statements. the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the charleS SORP", make judgements and estimates that are reasonable and prudent., slate whether applicable accounting st8ndards have been followed, Subject to any material departures disclosed and explained In the financial statements-, prepare the financial statements on a goiry concem basis un185s il is inappropriate to presume that the charity will continue in operation. The Trustees are responslble for keeping a¢¢ountlng records that disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financial slalements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulats'ans 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 irregularlties.
The Hull Aid in Sickness Trust Trustees Report lorthe rended 301h AuLTusI 2025 Co<4ptstive and Nomlnatlve Trustees: The Co-oplalive TnJstee$ are appointed by the board of Trustees for a term of five years after which they may put themselves forward fof re-appointment. The Nominative Trustee is appointed by the Kingston upon Hull City Council for four years or al the discretion of the Council, and may then be r&appoinled. The Trust's goveming document provides for 6 Co-optative Trustees and 1 Nominatsve TNstee. The Trust'8 S¢hom& dlctates that Co-oplativ8 Trustees musl be person5 who through residenca, occupation or employment, or otherwise, have speclal knowledge ofthe City and County of King51on upon Hull. Candidates for the post will have been pgrsonally recommended, asked to providg written synopsis detailing their skills, knowledge and experience. Each candidate will be provided with a Trustees 'Enquiry Pack, containing copies of the Trustees role description, the 'Essenlial Trustee,, recent Trust Minutes and Trustees Annual Report and Financial Statements, and the TnJst'$ History. The Trust's Scheme. all of the Trust's policy and procedural documents. and a copy of 'Charilies and Public 8enèfrt' are provided once elected and new Trustees musl 8lso sign a 'Declaralion of Eligibility for New Trustees,. The Trustees meet every quarter lo consider the grants, investments, reserves and risk management of the Trusl. Any reviéws from the Investrnenl Manager. or changes to assets will also be reviewed befvJo&n méetings as needed. The day lo day administration of the charity ts undertaken by Hull CVS. which is responsible for the maintaining of the records of the Trust and preparing applications and other documents for conser8t10n by the Trustees at their meeting5. All Trustees give of Ihelr time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses are disclosed in note 7 to the Accounts. Tru61ees are expected lo withdraw from decisions where a conflict of inlerest arlsas, Rlsk Managefflent The Trustees have considered and identlfsed all rlsks to whlcti tha Trust is exposed and have eslabllshed systems and procedures to manage those risks. The Trustees consider the varfability of investment retum3 on the Trusys endowment funds to ¢on5tilule the charity's major financial risk as the Tru¥l Is dependent entirely on thi5 income and has no other income source. The Trustees employ an Inve$trnent Manager to handle the Trust's investmen15 on the basis of an agreed investment strategy for an ethical bespoke porttolio and in accordance wrth the Trust's Investment Policy, Reports and valuations of the Trust's holding5 are provided for con¥ideration at every quarterly meeting. The Trust's major operational risk 15 the unpredictability of grant applicats'ons on an annual basis. particularty those received from individuals. The Tfuslee5 manage this risk with promotion of the charity's grant making activities lo all three of the Tru51's main beneficiary groups whenever any reduction in individual application numbers is recorded. Reporting and review of applications al every Trust meeting also gives opportunities throughout the year to determine if further promotional responses are required and 9ives greater flexibility to the Trust's charitable activities.
The Hull Aid in Sickness Trust Trustees Report for thg y8ar ended 301ts August 2025 Objectives for the publlc beneflt The object of the Trust IS to apply Clear income of the Charity in relieving in cases of need p8rsons residènt in the Cty and County of Kingston upon Hull who are sick, convalescent, disabled. handicapped or infimi by providing or paying for items, seTvices or facilities which are calculated to alleviate the sufferin9 or assist recovery of such persons in such cases but that are not readily available to them from other sources. The Trustees confirm that they have referred to the guidance contained in the Charity Commission'$ general guidan on public benefit when reviewing the Trust's aims and objectives and in planning future aclivilies. Restrlctlons In applying the Income of the Charity the Trustees Shall observe the following restri¢tions'. 1. they shall not apply any part of thé income directly for the relief or assistance provided out of public fund5. 2. they shall not commlt themselves to repeal or renew relief granted on any occaslon In any case. Actlvltles during tho yoar The Trustee5 continue lo meet physically for the purpose of overseeing the general management and operation of the Trust and its portfolio of investments and giving consideration to applications for financial assislance. Grant maklng pollcy The Trust has establishéd its grant making policy to achievé ils objects for the public benefll in aiding those detailed in ils Scheme, and defined in its objects as follows.. Grants made lo individuals.. The Trust considers applications for grants by individuals who fvlfil the critefia given in its objects and who can demonstrate their need by completing the Trust's application fomi aTrJ signing rts dedaration, and by supplying supporting evidence and information. All applicants will complete a sukable applicatlon form and declaration, which will be considered al the next Trustees meeting. The Trustees reserve the right to withdraw from future funding rf they are, at any time not satlsfied. Gran Work r Team Throughout the year the Trust r1Ved 2 requests from local Social Workers acting on behalf of agendes approved by the Trustees to be awarded a small sum for further disbursement amongst their clients, and al their discretion, in cases of need. They must, on every occasion, provide documentory evidence dernonslrating how grants previously approved have been utilised and fulfilled the objects of the Trust. Grants made lo the ull branches of other charitable or anisa ions.. Submission of a summary of how any grant made would be used must be provided by any organisations requesting grants and this use must fulfil the critena of providing a heatth benefft to those in need and are residents of the City and County of Kingston upon Hull only.
The Hull Aid in Sickness Trust Trustees Report lor the year èndèd 301h August 2025 Achlevements and Performance How our grant making policy delivered publi¢ benefit A feview of our achlevements and performance". The total value of all fomis of grants for this yeaT increased, with organisalional grant5 bw'ng the highest. The trust prioritisas grant awards to individuals and social worker teams and makes awards to organisations only where they feel they have the capacity lo do so. Grant awanls were approvèd by the Trugteès Ihls year as follow5, and detalled In Nole 4 to the Accounts:
A total of 7 indivldual applicants were approved for a grant following the receipt of new and satislactory application$. No grants awardéd via the Special Fund for Individual Applicants following the rewpt of no new and satisfactory applications. The numter of charitable organisations approved this year was 6, eactt applicatlon was carefully discussed lo ensure that they fvlfilled the Trust's criteria. 2 Grants were awarded lo social worker teams at lo1 agenci88 duTing the year for disbursements in smaller amounts lo Hull patrenls who need urgent assistance. Flnanclal Rgvlew The Trust is totally reliant upon the income received frorn the investments held by the charity and the financial objeclive is, wher8 possible, to distributè this income after meeting all expenses, t) the beneficiaries of the Trust in the form of grants that achieve our objeelivès for the public benefit. Dividend income. which forms the bulk of the Tru$l's income, has increased this year to a total of £40.121 (2024- £42.759). The Trust's other source of income from Bank and Building Society accounts increased this year to £92712024 - £5961 and finally rental income of £1012024 - £501. Overall income for the Trust this year of £41.05812024 - £43,405), a decrease of around 5.40/0 from the last financsal period. The Trust's Statement of Financial Activities on page 8 shows that this year there was a resultant surplus of £7,285 12024 - £17,636). This was due to an increased number of requests for support compared to the previous year, and a reduction in dividend income being received from the investment portfolio. Support costs remained in line with last year, with a decrease to the investment charges due lo the new formal implemented by Casllefield, these costs should remain lower going fotward with the sam8 amount of in¢ome lo be requested when needed. Reserve Pollcy: Reserves in the form of cash hdd on deposrt are maintained at a level sUffiCnt to cover at least quarters administration and support. These funds are identified wrthin the accounts as Contingen¢y Funds. The reserves are classified as part of the Twsl's Unrestricted Fund but are designated for this spacific purpose.
The Hull Aid in Sickness Trust Trustees Report forthe ye8rend6d Soth August 2025 Investment Pollcy and Performance This financial period the Trust's Investrnent Manager, Castlefield have managed the portfolio in line with the Trust's Investment Policy and agreed objectives. Note g of the notes lo the financlal statements highlvJhts the overall value of movements in the investment portfollo. These values indicate the changes necessary to meet the Trust's investment objectives in the current financial climate and beyond, whilst still providing a level of monthly income that will allow the Trust to continue to meet ils charitable objectives. The dividend income this year was in line wrth the predicted valuation from Castlefield at the beginning of the period. The level of income for this pgriod has been adequate to meet the Tfusl's administratrve and charitable requirements. The Investment Manager and the Trustees are now working to rleW the potential income from the porttolio over thé coming year, to allow accurate and realistic budgets to be created. The current value of the portfolio is E1.402.66212024- £1,423.3681 a negative rnovement of 1.5% from the start of the financial year. The average yield from holdings is 2.470/0 recorded as al the year end. Future Plans The Trustees intend lo continue making grants in a simllar manner to that experienced over the past few yeaTS and wsth due consideration ol the Public Benefit Guidance. Continued changes lo local services and to charity guidance however means that the Trustees intend lo continue lo monitor working practices and the Trust's administrattve policy documents to ensu that the Trust's funds and 115 applicants remain protected. In vlaw of the reduced number in applications over the recent years the Trust are working with Hull CVS to find new contacts lo seek more applications to help those in need who are unaware of the funds available to them, In order to meet ils charitable need the prud6nt manner whilst al the same li Tru51's portfolio in Conjunction with t rd intends to manage the funds under their control in a maximising income generation and closely monitoring the vestment Manager. Choirman 271.5 2028 On b•haW ol th• board of Trustees
Independent Examinerfs Report to the Trustees of The Hull Aid in Sickness Trust I report to the ehanty trustees on my examinatSon of the actourts of the ¢harrty for the year erbjed 30 August 2025 which are sel out on pages 8 to 13. Rospon8lbllltles and basis of report As the charity's trustaes you are responsibl8 for the preparation of the 8ccounts in accordance with the requirnents of the Charities Act 2011 ('Ih8 Acl'l. I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carying out my examination I have followed all the 8pplicable Directions given by the Charity Commission under section 14515}Ib) of the Act. Independent examlnorfs statement I have completed my examination. I confirm that no material matters have come to my attenlion in Connection with the examination glvSng me Cause to believe that in any material respect.. aecounling records were not kept in fespecl of the charity as required by seclion 130 of the Act.. or 2. tho accounts do not accord with those records,. or 3, the accounts do not comply with the applicable requirements concerning the form and conterrt of accounts set OLrt in the Charities {A¢¢ounts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fair view, which 15 not a matter considered as part of an Independent examination. I have no concems and have come across no other matters in connecllon wlth the examination to which attention shoukl be drawn in this report in order to enable a proper understanding of the ccounts to be reached. Nicki Shipley FCA Smalles Goldie Chartered Accountants Regent's Court Pnncess Street Hul5 HU2 8BA Els1 2026
The Hull Aid in Sickness Trust Statement of Financial Activities lincorporating an Income and Expendtture Account) for the y&arand8d 30th August 2035 Unr•stricted Contlngency Endowmant Total funds Total funds funds fund funds 2025 2024 Not• Incorng and oxp•nditure Ineomlng r•gour¢os from genorat•d funds Activitie5 lor generating lund8'. Ranls re¢gived Divi¢Jends received Intest r8ceNed 10 10 40,121 927 50 42,759 596 40,121 927 Total incoming fesources 937 40,121 41.056 43,405 R•8ourcas eXnd•d Raising funds Choritable expanditur9 Support Costs Governance cost 7,369 7.369 20.912 3,904 1,588 9,547 6,629 7,151 2,442 20.912 3,904 1,588 Total resources tsxpended 28,404 7.369 33.773 25.789 Net loutgoingllincoming resources and movoment in funds 125.4871 32,752 7.265 17,838 Trgnsfer beetn lund$ Invoslment gains in year.. R8alised Unrè81ised 1134,2381 87,385 66,853 12921 3,153 194.9021 77.509 195,1941 80,662 42.411 36,883 8alances brtsughl forward 8t 31 August, 2024 247,248 9.948 1,262.048 1,519.244 1,422.314 Balances carried fomard at 30 August. 2025 87,543 80,194 1,344,260 1,511,997 1.519,244 The notas on pagès 10 to 13 forrn part ol these Financial Staternents.
The Hull Ald in Sickness Trust Balance Sheet at 30th August 2025 Not¢ 2025 2024 Flxed as¥•ts Tangiblg fixed assets Invèstm8nls Inv881menl Dealing Account 2,281 1,402,662 8,343 2,261 1.423,368 1,411,286 1,427,973 Current 4$8ets Cash al bank and in hand Debtors 110.868 60 104,536 50 110,92e 104,586 Llabllltl•s: Amounts falllng du• wlthln on• yèar Accruals 110.1971 113.3151 N•t assfrts 1,511,997 1,519,244 Fund$ Unre5trKle Contingency Endowmonl 10 87.543 80,194 1,344,260 247,248 9,948 1,262,048 1.511,997 1,519,244 ved by the Board ol Truste96 on 2713 2028 And signed on its b*half by Chair of the Tru$te•s Vl¢• Chair of the Tru$ts•g The not¢$ on pages 10 to 13 fom part ofthese Financial Statements.
The Hull Aid in Sickness Trust Notes to the Financial Statements for Iho yaar8nd8d 30th August 2025 Accountlng pollclo8 Accountlng ¢onv•ntlon The financial 3latemants of the charity. which Is a public benefit entity undttr FRS 102, have bean pr8pared in accordancè wrth the Charrtie5 SORP IFRS 1021 'Accounting and Reporting by Charities" Statement of Recommended Practice applicable to charities pr8paring their awunls in xcordan¢& with the Financial Reportlng Standafd applicable in the UK and R&public ol Iraland IFRS 1021 lèffo¢live 1 January 20201,, and Fln8ncial Raporting Standard 102 'The Financial Reporting Standard applicable in the UK an¢J Republi¢ of Ireland.. Thè nancial statements have been prèpared under the histarul ctsst convention except for the revaluation ol investments. b) Voluntary In¢om• Cash donation5, gifts arld legac+es are included in full in the Incom¢ and expenditure account as they a rècoiv8d. SignifKanl non-Gash donations are included In the income anrl expenditure account al the Tru$lees' •slimole of their m8rkg1 value when received. The value of voluntary hglp is not included In th• a¢¢ounls. InY•stm•nt In¢om• Bank Inleresl and dividend income 18 included in tha Income and oxp8nditure account on a ¢8sh bag1S. d} Exp•ndllu Where exp8ndilure is incurred which relates lo mor• than on• Cost category. the expenditure is apportioned over 811 relavant headings. Invo8tmonts Investments are staled at mathel valu& at tha balance sheel date. The statement of financial
ctNitie8 Includes th• n•1 galns and losses on revaluatK*n And disposals throughout the year.
Tanglbl• flx•d a¥s•ts Tanglble fixed 88set$ Comprise Land and buildings which ig included al cost. Taxation The association 18 a U.K. registered charity, number 224193. All the as$o¢iation'$ in¢ome applied lo ils charitable objectwes and the association is, therefo. exempt under current legislation from most forms of taxation. 10
The Hull Aid in Sickness Trust Notes to the Financial Statements lorthe year8ndgd 30th August 2025 Totsl 2025 T¢Jtal 2024 Ral$lng funds Investrnenl man•g•¢8 fees 7,389 9.547 7,369 9,547 Total 2026 Total 2024 Charftabl• •xp•ndlture Grants Av#nl•d: Individuals Social worker learns Olh•r charrtable organisalSonB 3,822 1,964 15,128 3.329 3,300 20,912 6,629 Totsl 2025 Tot•1 2024 Support co•ts Servic• contract Adverti$ing Tr8vel expensey Insurance Over a¢¢Nal wiite off 7,000 243 50 151 13,5401 7,000 151 3,904 7.151 Toial 2025 Total 2024 Govemance costs Account8n¢y fees 1,588 2,442 1,588 2,442 Total 202S Total 2024 Trustees expenses Total amount paid 50 The Trustees wèr not entitd to and did not receive any other remuneraiion from the eharity during the y$ar.
The Hull Aid In Sickness Trust Notes to the Financial Statements lor the year endod 30th August 2025 Tangible fixed 9$$ots The Trust owns land and buildings in B8kef Street, fomierly known as Ihe Hull and Scukoate¥ Dispen$8ry. now let to the Department ol Health and Social Security for a term 0199 years from 1 August 1958 at an annual rental charge of £10 Ilfeehold and leasehold dctumenialion bdged wllh Gosschalks Solicitorsl and with the ¢ondilion that mainlenan¢e and Buildings Insurance is upheld by the tenant. Invostm•nt a5$0ts 2025 2024 Market valu4: At 31* August 2024 Addrtions Di8posal$ Revaluation 1,423,368 1,264,610 11.365.978) 80,662 1,354.735 182,793 1151.0431 36.883 At 301h August 2025 1,402,662 1,423,388 Individual investments exc8eding 5% by value of the portrolio were as follows.. 2025 2024 ConbrK) FD First Sentior Sarosln Funds 1.369.840 299,249 121,299 97,378 UnrtrICt8d Contlng•ncy Endowm•nt Fund• fund fund Total Funds 10. Fund• Al 31 sl August, 2024 Incoming resources for the year Outgoing rosources for the year Transfer5 btheen funds Realisèd gains on inve$tmen15 Unalised gains on inv861ments 247,248 937 127.2581 1134,2381 9.948 1,262.048 40.121 17,3891 66,853 194,9021 77.509 1.519.244 41,058 134.6271 67,385 12921 3,153 195,1941 80,662 At 30th August, 2025 86,689 80.194 1,344,260 1,511,143 Reprosented by.. Tangib fixod assets Inv8Stmenl8 Cash held as part ol invastrnenl fund Current 8sset$ Curront liabilitios 2,261 1.322,466 6,343 13,188 2,261 1,402,662 6,343 110,928 111,0511 80.194 97,740 111.0511 86,689 80.194 1,344.260 1,511,143 12
The Hull Aid In Sickness Trust Notes to the Financial Statements forllje yeaTended 301h August 2025 11. Total r•turn Inve8tmonl of pemian¥nt endowment Pemianenl Invoytment Portfollo Unappliéd Total Roturn 2026 At the b9glnning of the reportlng period Gfft component ofttte pem18nent endi)wment Unappli¢d total raturn 588.354 588,354 744,662 744,682 568,354 744,862 1,333.016 Movements in reporting perlod Investment return". dividends an¢J interest Investment ratum.. realI88d and unaliSed gains and Ilossèsl Less.. Investment man8gemenl costs Tolol return allocated lo un8pplied total return Unappl*d total tUrn allocated to income in the perlod 17,708 17,6771 22.413 19,7181 40,121 117,3931 13.2521 16,779} 14,1171 6.779 119,5641 17.3691 119.5641 N?1 movement in reporting pertod 14,2051 14,2051 At the •nd of th• reportlng rIOd Gift component ol the perrnanent endowment Unapplied Ictal retum 588,354 588,354 740.457 740,457 588.354 740,457 1,328,811