REGISTERED CHARITY NUMBER.. 225082 Report of the Trustee5 aThd Unaudited FinaD¢ial StatemeDts for the Year Ended 31 May 2024 for Mother Humber Memorial Fund Harris Laeey and Swain Suite I Th¢ Riverside Building Hessle East Yorkshir¢ HU130DZ
Mother Hurnber Memorial Fund Contents of the Financial Statements for the Year Ended 31 May 2024 Page Report of the Trustees Independellt Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Finanei81 Statements Detailed Statement of Financi81 ActlVLtie$ 12
Mother Humber Memorial Fund Report of the Trusteeg for the Year Ended 31 May 2024 The Trustees present their report for the year ended 3 1st May 2024. They Consider that this year has been another successfvl one in fijlly achieving their am5 and expectations. The Mother Humber Fund was established 1908 or thereabouts by th¢ wife of the Editor of The Hull Daily Mail at that time for the relief of poverry in Hull. The Charity's purpose is for the relief of povetty and distress. This is at lh¢ forefront of all the considerations rnade by Ihe TnJst¢¢s and beneficiaries must reside within the city of Kingston upon Hull. The Charity became moribund in the 1970's artd affiliated with local Age Concern. It was 're-activated' as a small tndependeni charity in that d¢¢ad¢ with investments of approx. £J5.000 which enabled small donations to be made within the Splt of the original fouDder. A long-rerni asset of the Charity was a double-fronted property in Beverley Road Hull whi¢b had been bequeathed sometime before. This property Wa5 let on a peppercorn rent of Ip for use by Social SeTvi¢es and ther¢fore did not produce in¢om¢ for disposal. The propety was however relinquished by Soeial Services in mid-1980 raising £194.000. This was invested following professional advice to provide income and protection against inflation together with growth foi the continuity of the charity. The value of the portfolio is now £2.521,098. The objectives remain true 10 the original purpose and vision of the founder. Considerable help in the forni of food parcels and clothÈng was given to the people of Hull during the two World Wars. OBJEcfivES AND ACTIVITIES Objectives and #ims The Mother Humber Memorial Fund continues to provide assistante to individuals and families within the Hull area this year by providing funding to individuals who e in need. Funding is aimed at relieving either generally or individually persons resideni in the City of King5ttsn upon Hull who are in tonditions of need, hardship or distress, and will cover the supply of electrical 'whiie goods, and essential fjJrniNre. lothints and bedding.Other types of appea15 are also considered. Funding is at the discretion of trustees. Grants are normally for less than £500 in order to maximise the Tesources of the charity. Applications can be submitted at any time and will nornially b¢ considered monthly. ACHIEVEMENT AND PERFORMANCE Charitable activities The CWGS s¢h¢m¢ (reported in the Trustees, annual report foi the year ended 31st May 2023) finally closed during that year (ended 3 1st May 20231 after full delivery of the net amount during the two years since the start of the scheme. During that time The Mother Humber Fund coniinued to operate, as before, tonsidering appeals from ihe re5ident5 Ot Hull, who in their opinion meet the criteria and objectives of the Charity in the relief of poverty and distress. The Mother Hulnber Fund has no fund-raising activities or volunteer5. The Board consists of 8 Trustees {2 of which are nominated by Hull City Council) and a Secretary and A55iStant Secretary.
Mother Humb¢r Memorlal Fund Report of the Trustees for the Year Ended 31 May 2024 FtNANCIAL REVIEW FinaDcial position The charity fvnds are derived entirely from investments. Th¢ trustees, policy is to focus on the level of donatiot15 ttlade aoainst marker movements, so that capital is not eroded, Ihereby ensuring continuity of Ihe charity's ability to meet its obligations. Reserves are held to generate an approximate income of £30,000 per annum for distribuLion in line with the Irusrees, grant policy to meet their obligations in 'relieving either generally or individually persons resid¢tLt in the city of Kingston upon Hull who are in conditions of need, hardship OT distress" Income from the inv¢stments has repeatedly exceeded thi5 policy rninimum and for the year ended 31 st May 2024 atnounted to £47.967 At present the unrestricted income fund5 amount to £1,260,5491£1,162,610 - 2023} and the restricted funds 8rnount to £1,260,549 (£1,162.610 - 2023) with total funds amouniing to £2,521,098 (£2,325,220- 20231. The reserves p(Trlicy for 2024 is to hold 500/0 of total fund5 in reserve. The fvnds held in r¢5¢Tve for 2024 are £1.260,667which equate 10 5(P/o of total funds therefore comply with the reserves policy. At present the unr¢$tricted income fidS amount to £1,260,549. The TnteeS intend to ¢onsider the restricted and unrestricted criteria and if appropriate make adjustments which may increase the unrestricted element considerably. The TTUSte¢s believe that the Charity is exposed to th¢ nomvdl risks of investment and a¢coTdingly have spread the investment beNeen reeognized Charity secior porrfolios. These investtnents are regularly reviewed by officials of professional standing ro ensure that they remain in line with market trends. The Trust¢¢s' policy includes re-investmelll to in¢rease income if rtecessary, bui they always reoard the safety of capiial as paramount. Quarterly reports are received from the professional invesmient nd managers and these are reported to the Trusiees at their regular rtleeiings. In addition one or more of the Ttustees will attend the inveStent seminars when available. They remain Confident that risk5 continue to be minimiz¢d and well spread to avoid volatility in any one sector and to proiect their funds against inflation In order that the Mother Humber Memorial Fund can continue for the future. The Charity ha5 no fixed costs and as such th¢ Trustees believe that operations can continue if their investments remain sound. Risk manag¢ment is not restricted to financial matters and as part of the risk policy reviews are undertaken by our solieitors io ensure that administrative obligations and procedures are cotnpliant with current practice. FUTURE PLANS The Trustees remain satisfJ¢d thai their plans and objectives remain pertinent and consider awards to all Sectors without favour or prejudice. They also endorse environmentsl issues and endeavour to comply with views and sentiments. They are confideni that the Mother Humber Memorial Fund will r¢nthin a significan¢ charity in the City of Kingston upon Hull to help with poverry and distress for years to come. Technology is embraced to k¢ep pace with requirements and data securiry and will continue to be a feature. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing docujnent The charity is contToll¢d by its governing documenL a deed of trust and constitutes an unin¢orpoTated charity. Pa2e 2
Mother Humber Memorial Fund Report of the Trustee5 for the Year Ended 31 May 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constitution The Mother Humber Memorial Fund is regisiered with the Charity Commission and operate5 Wlthin the original on5tirntion prepared in 1980 when the Charity was re-activated (see above). Operational ehanges are made from time to time and these are prepared and approved by our It[ representatives and lodged and agreed with the Charity Cotntnission. The Tnte¢S meet monthly (unless circumstances warrant a change) and there are fomal arrnngements io consider urgent awards in the interim. They retnasn aware of the need to recrnit new Trustees when appropriat¢ and when doing so, they seek to ensure a spread of ¢xperience, knowledge and diversity. The Chariry does not hav¢ any staff. 01cCrS are appointed and r¢ceive an honorarium for WOTk undertaken. This is reviewed annually or orherwise if circumstance5 dictate. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Dumber 225082 Prilleipal address Suite l. The Riverside Buiding Hessle East Yorkshire HU130DZ Trustees Mr S Dea5 (Chair) Mr D Brown Hon Alderman Mrs P M Elli5 Hon Aldemian Ms G Lunn M5 R P3ntelakis (appoinied 9.6.221 Rev Fr P Latnb CSlr L Chambers (appointed 9.6.22) Cllr R Pritchard (appointed 14.7.22 resigned 31.5.23) Independent Exarniner malS Lacey and Swain Suite I The Riverside Building Hessle East Yorkshire HU130DZ Approved by Order of the board of trnstees on ............ 2dif and signed on its behalf by.. Mr S Deas- Trustee
Independent Examiner's Report to the Trustees of Mother Humbtr Memorial Fund Independent examiner's report to the trustees of Mother Humber Memorial Fund I report to the charity trustees on my examination of the accounts of Mother Humber Mernorial Fund {Ihe Trust) for th¢ year ended 31 May 2024. Responsibilities and b¥$is of report As the charity trustees of th¢ Trust 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 examÈnatxon of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions ttiven by the Charity Commission under Section 14515llb) of the Act. Independent examiner'5 Statement I have completed my examination. I confirm that no material matters have colne to tny attention in connection with the examination giving me cause io beli¢v¢ that in any Enaterial respect.. aecouniing record5 w¢re not kept in respect of the TTU5t &5 required by Section 130 of the A¢t,' or the accounts do noi accord with those records: or the accounts do not comply with ihe applicable requiretnents concerning the fom and content of accounts sei out in the Charities IAc¢ounÈs and Reports) Regulations 2008 other than any requirement that the account5 give a true and fair view which is not a matter cotlsidered as part of an independent examination. I have no concerns and have come across no other matters in Connection with the examination to which attention should be draw in this report in order to erble a proper undersianding of the accounts to be reaehed. Laura J Drew BFP ACA FCCA ACMI Ha]5 La¢ey and Swain Suite I Th¢ Riv¢rside Building Hessl¢ East Yorkshire HU13 ODZ Date".
Mother Humber Memorial Fund St8ternellt of Finaneial Activities for the Year Ended 31 May 2024 2024 Total funds 2023 Total funds Unrestricted funds RestTiCted funds Notes INCOME AND ENDOWMENTS FROM Investment income 47.967 47,967 45,688 EXPENDITURE ON Charitable activities Chariiabl¢ Activiies 50,096 50.096 248,319 Net gains on investments 198,007 198.007 16,423 NET INCOMEI(EXPENDITURE) TraD5fer5 between funds 195,878 (97,939) 195.878 (186.2081 97.939 Net rnovement in funds 97,939 97,939 195,878 (186.2081 RECONCILIATION OF FUNDS Total funds brought fonvard ,l62.610 1.162,610 2,325,220 2,511.428 TOTAL FUNDS CARRIED FORWARD 1,260.549 1,260,549 2.521.098 2,325,220 Th¢ not¢s fonn part of these financial 5tat¢ments
Mother Humber Memorial Fund Balance Sheet 31 May 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted fidS Notes CURRENT ASSETS Inveslments Cash at bank 2.176,265 1914,1321 274,305 986.244 2,450.570 72,112 2,252,563 74,157 1,26? 133 1,260,549 2.522,682 2,326,720 CREDITORS Amounts falling due within one year {1,584} (1,584) {1.500) NET CURRENT ASSETS 1,260,549 1.260,549 2,521,098 2.325,220 TOT AL ASSETS LESS CVRRENT LIABILITIES 1.260,549 1260,549 2,521.098 2,325,220 NET ASSETS ,260,549 1.260,549 2,521.098 2,325,220 FUNDS Unrestricted funds Restricted funds 1,260.549 1,260,549 1.162,610 1.162,610 TOTAL FUNDS 2.521.098 2.325,220 The f]Dan¢ial sratemenis were approved by the Board of Trnstees and authorised for issue ..1..].0 i 12ts1S............... and were signed on its b¢half by.. Mr S Deas - Trustee The notes forni part of these fmancial statements
Mother Humber Memorial Fund Notes to the Financial Statements for the Year Ended 31 May 2024 ACCOUIYTING POLICIES Basis of preparing the finartel81 statements The financial siatements of th¢ ¢harity. which ig a public benefit entity under FRS 102. have been prepared i accordance wilh the Charities SORP (FRS 102) 'Accouniing and R¢porting by Charities.. Statement of Recommended Practice applicable to charities preparing their atcounis in accord8nce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 20191., Financial Reporting Standard 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charitie5 Act 2011. The financial statements have been prepared under the historical cosi convetltion. Ineome All iD¢Qtne is recognised in the Statetnent of FiTLancial Activities once the charity has entltlement io the funds, it is probable that the income will be received and the amount can be measured reliably. Income received for services provid¢d i5 accounted for on an accrual basis. Donaiions. gifts and legacie5 ate included in the income and expenditure as received. Any significant non-cash donations are included in the income and expenditure account at the trustees estimaie of market value &t the time received. The value of voluniary help 15 not included in rhe accounts. Grants and other ndIng of a revenue nawre are d¢ferr¢d aTLd released to the income aud expenditure account over the period io which they relate. Bank interest Is included in the income and expenditure aecount on an accrual basis. Investment income ¢ompris¢s of dividends from the Charities listed investment portfolios. Dividends are recognised once the divided has been declered and notification has been received of dividend due. Eipenditure Liabilitie5 are re¢ognised as expenditure a5 soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will b¢ required in settlement and the amount of the obligation can be measured reliably. Expendire 15 atcounied for on an accruals basi5 and has been classified under heading5 that aggregate all cost related to the category. Where costs cannot be diTectly allributed to partitular headings they have been 311ocated to activities on a basis consistent with the use of resources. Grants offered subj¢ei to conditions which have not been mei at the year end date are noted as a commitment but not accrued as expenditur¢. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be us¢d in accordance with the charitable objectiyes at the discretion of the tNstees. esiiicted funds Can only be used for particular restricted purposes within the obJects of the charity. Restrictions aTise when spetified by the donor or when fi]nds ale raised for particular restricted purposes. Further explanation of Lhe nature and purpose of each fund is included in the notes to the fmaThcial statements. Estimstes Judgements Estimates and judtseTnents are continually evaluated And are based on histori¢al experience and oiher factors, including expectations of fllre even(s ihat are believed to be reasonable under the circumstances. Although th¢se estimates are based on the Trustee's besi knowledge of the atnount, events or actions, actual results ultimately differ from these estimaies. The Trustee's do not consider there to be any material estimates and judgements.
lother Huthber Memori41 Fund Notes to the FinA•cial Statements_ eontiou¢d for the Year Ended 31 l¥fay 2024 ACCOUNTINC POLICIES. continued Financial IiJ5lruments The company only has financial assets and financial liabilities of a kind that qualify as basic finani at transactiOEJ value and subsequeTrtly measure at their settlement value. instruthents. Basic finaneial instruments, including trade and other debtors and creditor5 are initially recognic Investment Activiti¢s Portfolio inv¢stments ¢omprise of listed iDvestment and are assets held by the charity in order to directly fyrthe the eharitable PU05e,. ai)y financial return obtained is not the prilnary reason for making the invesonent. Portfolio investments are included in the account at tnarket value at the end of the financial period. The market value of fixed interest securities reflects any accrued inlerest at the balance sheet date. a¢tjVities during the year in which they occur. Realised and unTeali5ed gains or losses on investment assets are Credited or charged to the statement of financial INVESTIIIEIVT INCOME Divideads & Deposit account In terest 2024 2023 forpayment. 47.967 45.688 Investment income comprises of divideDdp4id to the charity from the listed invesimentportfolio it OMgJS. Income is recognised once a dividend declaration has been made and notification has been reeeived that dividends is due TRUSTEES, REMUNERA TION AND BENEFITS There was no remuneratTOlI to any of the trusiees in Ihe ¢urent orprioryear. Tru5tees' expeSe$ There were no trustees, expenses paid for th¢year ended 31 May 2024 Dor for the year etjded 31 May2023. COAIPARA TIVES FOR THE STA TEMENT OF FINANCUL ACTIVITIES INCOME AND ENDOWlENTS FROAI Investment income Unrestricted fithds Restricted nds Total nds EXPENDJTURE ON Charitable actlvities Charitable Aetivites 45,688 45.688 Netgains on investments 37,808 210,511 NET INCOhlE/(ExpEIVDITURE) 248,319 16,423 16,423 24.30?
Mother Humber Memorial Fund Note5 to th¢ Fin8ncial Statements- continued lor the Year Ended 31 May 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted nds fiEnds Total funds Transfers between funds (888,305) 888.305 Net movement in fund5 (864.002) 677.794 (186,2081 RECONCILIATION OF FUNDS Total fund5 brought forward As previously reported Prior year adjustment 452,174 1,574,438 484,816 936,990 1,574.438 As restated 2,026,612 484,816 2,511,428 TOTAL FUNDS CARRIED FORWARD 1,162,610 1.162.610 2,325,220 PRIOR YEAR ADJUSTMENT In the 2022 accounts, the markei value of investments had not been reflected wiihin the accounts. As a r¢suli a prior year adjusiment has been made to retognise the value of investments within the 2023 accounts at maTk¢t value to ensure the charity is compliant with FRS 102 by measuring ai fair value. Listed investments were restated from £388,112 to £2.236,989 in the 2022 period. CURRENT ASSET INVESTMETrs 2024 2023 Li5t¢d investments 2,450,570 2,252,563 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other Creditors 1,584 1,500 MOVEMENT IN FUNDS Net movement iti fvnds Transfers between funds At 31.5.24 At 1.6.23 Unre5trict¢d funds Accumulaied Income Fund 1,162,610 195,878 {97.939) 1,260,549 Restrieted fuDds A¢¢umulated Specific Fund 1.162.610 97,939 1,260,549 TOTAL FUNDS 2,325,220 195,878 2,521,098
Molher Humber Memorial Fund Notes to the FinaRci*l St#temtnts - eontinued ftsr the Year Ended 31 May 2024 MOVEMENT IN FUNDS- eontimuert Net movement in fvnds. included in the above are a5 follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrieted funds Accumulated IncoTne Fund 47,967 (50.0961 198,007 195,878 TOTAL FUNDS 47,967 (50,096) 198.007 195,878 Cojttparatives for movement in funds Prior year adjustment Net movement in funds Transfers between funds At 31.5.23 At 1.6.22 Unregtrieted funds Accumulated Income Fund Accumulated Capital Fund 409,139 43,Oi5 1,574,438 67.338 {43,035) 1888,3051 1,162.610 452,174 1.574,438 24.303 (888,3051 1.162.610 Restricted lunds KUHCC scheme grant Accutnulated Specific Fund 210,511 (210,5111 274.305 888.305 1.162,610 484,816 (210.511} 888,305 1.162,610 TOT AL FUNDS 936,990 1.574,438 (186,208) 2.J25,220 Comparative net movemeDt in funds. included in the above are a5 follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrieted funds Accumulated Income Fund Accumulated Capital Fund 45,688 {37,808) 59,458 (43,0351 67.338 {43.035) 45,688 {37,808) 16,423 24,303 Restricted funds KUHCC scheme ant 1210,511) (210,511) TOTAL FUNDS 45.688 (248.3191 16,423 (186,208) Page 10 Continued...
Mother Humber Memorial Fund Notes to the Finaneial Staternents- ¢onlinued for the Year Ended 31 May 2024 MOVEMENT IN FUNDS- continued A current year 12 mortths and prior year 12 months ¢ombin¢d position 15 as follows.. Prior y¢ar adjustment Net moveEnent in funds Transfers between funds At At 1.6.22 Unrestricted funds Accumulaied Income Fund Accumulated Capital Fund 409,139 43,035 1.574.438 263,216 (43,035) {9862441 1.260,549 452,174 1.574.438 220.181 (986,244) 1.260,549 Restricted funds KUHCC scheme grant Accllrnulated Specific Fund 210,511 {210.511) 274.305 986,244 1.260,549 484,816 1210,511) 986,244 1,260,549 TOTAL FUNDS 936,990 1.574,438 9.670 2.521,098 A CunI year 12 months and prhor year 12 monihs combined net movem¢nt in funds, iTh¢luded in the above are as follows.. Incoming resources Resour¢es expended Gains and losses Movement in ndS Unrestricted funds Aecumulated Income Fund Accumulated Capital Fund 93,655 (87,9041 257,465 (43.035) 263.216 {43,035) 93.655 187,904) 214,430 220.181 Restricted fund5 KUHCC scheme grant (210,511) (210,511) TOTAL FUNDS 93.655 1298,415) 214,430 9.670 RELATED PARTY DISCLOSURES There were no related party tr8nsactions for the year ended 3 5 May 2024. Pagell
Mother Humber Memorial Fund Det8iled Statement of Financial Aetivities for the Year Ended 31 May 2024 2024 2023 INCOME AND Ef4DOWMENTS Investment income Dividends & Deposit account In terest 47.967 45,688 Total ineoming resources 47,967 45,688 EXPENDITURE Charitable activities Insurance Postage and stationery Computer and sollware Motor expenses HCC Costs Gifts and donations Rent NVCO Subscriptions Grants to individuals 1.200 969 1,530 356 1,200 1,033 1,737 625 12.384 18,932 154 29,606 508 322 175,094 34,491 211,159 Support costs Management Honoraria 12,850 31,950 Finance Bank charges 25 25 Governance costs Accountancy and legal fees 2,730 5,185 Total resources expended 50,096 248.319 Net expenditure (2.129) (202,6311 This page docs not fom) part of th¢ statutory financial statements Page 12