Huddersfield Drill Hall Trust Fund
Trustees’ report and accounts 31 December 2023
TRUSTEES OF HUDDERSFIELD DRILL HALL
Statement of Financial Activities for the year ended 31st December 2023
| INCOME County Association Ground Rent Property Insurance Investment Income (gross) (Note 2) TOTAL INCOME EXPENDITURE Rechargeable Items: Ground Rent Property Insurance Repairs to Roll of Honour Boards Trustees Insurance Secretarial Expenses Medal Framing & Display Boards Property Valuation Silver purchase Clock Servicing Silver cleaning General expenses Contributions Made 5 DWR Silver Trust Contribution to Linsley Medal 4 Yorks Grant DWR Museum TOTAL EXPENDITURE SURPLUS FOR THE YEAR |
£ 172 15,834 |
£ 172 15,834 |
2023 £ 10,178 172 15,834 |
£ 172 15,904 |
2022 £ 10,092 172 15,904 |
|---|---|---|---|---|---|
| 26,184 2,765 |
26,168 2,393 |
||||
| 28,949 16,006 1,128 492 800 237 780 290 - 158 - 2,033 - 400 600 |
28,561 16,076 276 468 - 385 - - 105 300 40 1,98 4 2, 116 - - |
||||
| 22,924 | 21,750 | ||||
| 6,025 | 6,811 |
TRUSTEES OF HUDDERSFIELD DRILL HALL
INCOME FUNDS
Balance Sheet as at 31st December 2023
| Balance Brought Forward Financial Activities – Surplus/(Deficit) Balance Carried Forward Appreciation in Value of Investments REPRESENTED BY Current Assets Investments - at Market Value (Note 2) Lloyds Bank TSB PLC Debtors and Prepayments Less Creditors and Accruals |
2023 £ 139,052 6,025 145,077 104,410 249,487 210,453 42,744 18,360 |
2022 £ 132,241 6,811 |
|---|---|---|
| 139,052 | ||
| 99,163 | ||
| 238,215 | ||
| 205,206 22,902 16,920 |
||
| 271,557 (22,070) |
245,028 (6,813) |
|
| 249,487 | 238,215 |
TRUSTEES OF HUDDERSFIELD DRILL HALL
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
(1) CAPITAL FUND
The Capital Assets of the Trust Fund are represented by land situated in St Paul's Street, Huddersfield, together with the Drill Hall and all other building erected thereon. No value in respect of the Land and Building is stated in the Balance Sheet.
The property is held on a 999-year lease, which commenced on 25th March,1899. The lessor is Kirklees Metropolitan Council, as successor to the Estate of John William Ramsden.
The property is sub-let by the Trustees to Reserve Forces and Cadets Association for Yorkshire and the Humber under an agreement which expires on 29th September 2030. The premises were occupied by C Company, 4th Battalion, The Yorkshire Regiment, throughout the year.
The Drill Hall was erected in 1902, in accordance with the Trust Deed dated 25th September 1902, "with funds provided by public subscription, at a cost exceeding eight thousand pounds". Since that time, outbuildings have been added and alterations made to the original property.
The present insured value of the property, on a full re-instatement value, is in excess of £6 million.
(2) INVESTMENTS
| (2) INVESTMENTS | |||||
|---|---|---|---|---|---|
| AT COST | GROSS | INCOME | MARKET | VALUE | |
| 2023 | 2022 | 2023 | 2022 | ||
| M & G Charibond Charities fixed interest | |||||
| Common Investment Fund 17275 | |||||
| units | 16,043 | 2,074 | 2,013 | 19,320 | 18,710 |
| M & G Equities Investment Fund for | |||||
| Charities 2,462 units (Charifund) | 20,000 | 691 | 380 | 34,813 | 35,651 |
| 36,043 | 2,765 | 2,393 | 54,133 | 54,361 | |
| * | * | ||||
| M & G Charifund Accumulation Units | 70,000 | 8,185 | 7,155 | 156,320 | 150,845 |
| 521122 units (see note) | |||||
| TOTAL PER ACCOUNTS | 106,043 | 2,765 | 2,393 | 210,453 | 205,206 |
*Note: Income in accumulation units is automatically re-invested and reflected in the accumulation unit price.
5th DUKE OF WELLINGTON'S REGIMENT SILVER TRUST
Note 2
This Trust is registered as a Subsidiary Charity to the Huddersfield Drill Hall under a Trust Deed dated 30[th] November 1954.
Its Objectives are to hold the Trust property, consisting of the Regimental Silver, for the sole use and benefit of the 5th Duke of Wellington's Regiment and the successors to the said Regiment.
The Trust has no further assets of its own and finance for the insurance and upkeep of the Silver are provided from the Huddersfield Drill Hall Income Fund
EXPENDITURE FOR THE YEAR ENDED 31st DECEMBER 2023
| EXPENDITURE Insurance Cleaning of Silver Funds contributed by Trustees of Huddersfield Drill Hall |
2023 £ 2,033 158 2,191 |
2022 £ 1,984 300 |
|---|---|---|
| 2,134 | ||
TRUSTEES REPORT
The financial statement above has been examined and approved by the Trustees of Huddersfield Drill Hall. At a meeting of the Trustees, the Chairman was authorised to sign the following declaration:
We approve the financial statements set out above which have been prepared in accordance with the financial records of the Trust for the year ended 31st December 23.
Signed on behalf of the Trustees of Huddersfield Drill Hall.
26 Mar 2024
………………………………………………………………….. S M Armitage, Chairman of the Trustees