OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-04-05-accounts

SIR HAROLD HOOD CHARITABLE TRUST REGISTERED CHARITY NO: 225870

ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2021

Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

SIR HAROLD HOOD CHARITABLE TRUST

CONTENTS

Page
Trustees' Report 1 - 4
Independent Auditors' Report 5 - 6
Statement of Financial Activities 7
Balance Sheet 8
Statement of Cash Flows 9
Notes to the Financial Statements 10 - 20

SIR HAROLD HOOD CHARITABLE TRUST TRUSTEES' REPORT

Reference and administrative information

Charity Name

Sir Harold Hood Charitable Trust

Charity Number

225870

Trustees

Margaret Marie Elizabeth Felicia Hood The Lord True, CBE Dom James Hood The Lady True Christian Edward Elwes

Principal Address

PO Box 52492, London, NW3 9DY

Accountants & Auditors

Haysmacintyre LLP, 10 Queen Street Place, London, EC4R 1AG

Solicitors

Laytons Solicitors, 2 More London Riverside, SE1 2AP

Bankers

C Hoare & Co, 37 Fleet Street, Temple, London, EC4P 4DQ

Investment Managers

Rathbones,8 Finsbury Circus, Finsbury, London, EC2M 7AZ.

Report of the trustees for the Year ended 5 April 2021

The Trustees present their annual report and accounts for the year ended 5 April 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing document deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their Financial Statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition).

SIR HAROLD HOOD CHARITABLE TRUST TRUSTEES' REPORT

Structure, governance and management

The Trust was set up by the Settlor, Sir Harold Joseph Hood, by a Declaration of Trust dated 9 November 1962.

The power of appointing new Trustees was vested in the Settlor during his lifetime. Sir Harold Hood died on 5 September 2005. This power now rests with the remaining Trustees. When recruiting new Trustees, the Trustees look for individuals with skills and experience which are of value to the Charity. Once appointed, new Trustees will be provided with a pack of information on the Charity. The Trustees are experienced individuals who have a good understanding of what is involved in being a Trustee of a charity. Where appropriate, the Charity supports the training of Trustees, including attendance at seminars.

The Trustees meet once a year to discuss the annual accounts and to agree the list of grants for the forthcoming year.

Risk Management

The detrimental effect the Covid-19 pandemic has had on the world's economies has resulted in significant uncertainty regarding the future level of the charity's investment income. However, all of the charity's distributions are discretionary and no distribution commitments have been given for the year ending 5 April 2021 or future years. Consequently, the Trustees are able to manage the charity's financial affairs to accommodate any reduction in its income. Given the solid level of the charity's general reserve and the discretionary nature of the charity's distributions The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future. The Investments have recovered from £15,679m in 2020 to £19,501m in 2021.

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operation and finances of the Trust, and are satisfied that systems are in place to mitigate the exposure to the major risks.

The Trustees have identified the following risks: - Investments will drop in value; and

The Trustees have mitigated these risks by: - Appointing a professional firm to manage the investments; and

Key Management Personnel

The trustees consider the board of trustees the key management personnel of the charity in charge of directing and controlling, running and operating the Charity on a day to day basis. All trustees give of their time freely and no director received remuneration in the year. Details of directors' expenses and related party transactions are disclosed in note 9 to the accounts.

Investment policy and performance

In accordance with the Trust deed, the Trustees have the power to invest in such stocks, shares, investments and property as they see fit. The Trustees engage Rathbones as investment managers with the brief to adopt a medium risk investment strategy which provides revenue for the charity's current need whilst enhancing income and capital growth over the long term.

SIR HAROLD HOOD CHARITABLE TRUST TRUSTEES' REPORT

Objectives and activities for public benefit

The trustees confirm that they have complied with the duty in section 17 of the Charity Act 2011 to have due regard to the Charity Commission's general guidance on public benefit "Charities and Public Benefit".

All funds are unrestricted and the Trustees' policy is to retain sufficient capital for the maintenance of the trust. The balance of income at the year end is considered at the Trustees' meeting. A minimum reserve of income is maintained to cover fluctuations in income, whilst ensuring that the grants are paid.

The Trust directs that the Trustees shall apply the income of the original funds and any additional funds for such Roman Catholic charitable purposes as the Trustees shall, in their absolute discretion and from time to time, think fit. The Trustees shall be entitled to accept the receipt of any person whom they consider to be the appropriate officer of any charity for any monies so applied without being concerned to see to the further application thereof.

The Trustees may also at any time apply the whole or any part of the capital of the trust fund for such Roman Catholic charitable purposes as the Trustees in their absolute discretion think fit.

Performance

The financial statements show the investments at market value. The 'gain/(loss)' on disposals of investments is based on their opening market value and resulted in a profit of £84,201 for the year ended 5 April 2021 (2020: Loss of £10,652) and an unrealised profit calculated on the same basis arose at the year end of £3,926,888 (2020: £3,917,435 loss). An informal desktop valuation of the property was carried out by Beauchamp Estates in 2020 and based upon this, the Trustees have valued the property as at 5 April 2021 at £15,000,000, giving no gain/no loss (2020: £Nil).

During the year ended 5 April 2021, income was £632,584 (2020: £816,672).

Management expenses in the year ended 5 April 2021 amounted to £94,716 (2020: £110,001).

After grants, net expenditure, before net investment gains, were therefore £294,585 (2020: £73,325)

There was no undistributed income balance at 5 April 2021 (2020: None).

Grants

During the year ended 5 April 2021 grants were made to Roman Catholic charitable organisations of £818,000 (2020: £765,654). The Trustees consider that future distributions can continue to be financed from the Trust Fund at this level.

Going Concern

The detrimental effect the Covid-19 pandemic has had on the world's economies has resulted in significant uncertainty regarding the future level of the charity's investment income. However, all of the charity's distributions are discretionary and no distribution commitments have been given for the year ending 5 April 2021 or future years. Consequently, the Trustees are able to manage the charity's financial affairs to accommodate any reduction in its income. Given the solid level of the charity's general reserve and the discretionary nature of the charity's distributions The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future. The Investments have recovered from £15,679m in 2020 to £19,501m in 2021.

Reserves review including policy

The charity is reliant on its return from investments to fund its charitable aim, and therefore has a reserves policy which aims to provide sustainable funds for the future.

At the balance sheet date, the Trust had capital funds of £34,923,290 (2020: £31,208,396).

Plans for the future

The Trust is managed with a view to it being able to continue its activities for the future.

SIR HAROLD HOOD CHARITABLE TRUST TRUSTEES' REPORT

Statement of Trustees' Responsibilites

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & 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 and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 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 irregularities.

The Trustees also confirm that they have made all necessary enquiries and taken such steps that they ought to, to ensure that they become aware of any relevant audit information and that they confirm that the Charitable Trust's auditors have been made aware of such information.

Signature and Declaration

Margaret Hood

23 November 2021 ...................................................................... ........................................ Margaret Marie Elizabeth Felicia Hood Date

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF SIR HAROLD HOOD CHARITABLE TRUST

Auditors' report to the trustees of Sir Harold Hood Charitable Trust

Opinion

We have audited the financial statements of Sir Harold Hood Charitable Trust for the year ended 5 April 2021 which comprise Statement of Financial Activities, the Balance Sheet, the Statement of Cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustee’s Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF SIR HAROLD HOOD CHARITABLE TRUST

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 4 , the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements of the Charity Commission, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and Charities SORP (2019).

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements including the risk of override of controls. Audit procedures performed by the engagement team included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees as a body for our audit work, for this report, or for the opinions we have formed.

23 November 2021 .................................................................. .................................................................. Haysmacintyre LLP Date Statutory Auditors 10 Queen Street Place London EC4R 1AG

Haysmacintyre LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

SIR HAROLD HOOD CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021

Unrestricted Funds
Income
Capital
Note
Fund
Fund
£
£
INCOME FROM:
Investments
2
632,584
-
Total Income
632,584
-
EXPENDITURE ON:
Raising Funds
3
94,716
-
Charitable Activities:
Grants awarded
4
832,453
-
Total Expenditure
(927,169)
-
Net expenditure before gains/(losses) in
investments
(294,585)
-
Other recognised (losses)/gains:
Gain/(loss) on investments
6
-
4,011,089
Exchange rate loss
(1,610)
Net income/(expenditure)
(294,585)
4,009,479
Transfers between funds
294,585
(294,585)
NET MOVEMENT IN FUNDS
-
3,714,894
Total funds brought forward
-
31,208,396
Total funds carried forward
-
34,923,290		 Total
2021
£
632,584
632,584
94,716
832,453
(927,169)
(294,585)
4,011,089
(1,610)
3,714,894
-
3,714,894
31,208,396
34,923,290		 Total
2020
£
816,672
816,672
110,001
779,996
(889,997)
(73,325)
(3,928,087)
(71)
(4,001,483)
-
(4,001,483)
35,209,879
31,208,396

All operations are continuing.

All recognised gains and losses are included in the Statement of Financial Activities.

SIR HAROLD HOOD CHARITABLE TRUST

BALANCE SHEET AS AT 5 APRIL 2021

Note
2021
£
FIXED ASSETS
Investments
6
Property
6
CURRENT ASSETS
Cash
456,224
LESS: CURRENT LIABILITIES
Creditors: amounts falling due within one
year
7
(34,440)
NET CURRENT ASSETS
NET ASSETS
REPRESENTED BY
Capital Fund
9
Approved by the Trustees and signed on their behalf by:		 £
19,501,506
15,000,000
34,501,506
421,784
34,923,290
34,923,290
34,923,290		 2020
£
611,616
(82,718)		 £
15,679,498
15,000,000
30,679,498
528,898
31,208,396
31,208,396
31,208,396

Margaret Hood

..................................................... Margaret Marie Elizabeth Felicia Hood

........................................ 23 November 2021 Date

SIR HAROLD HOOD CHARITABLE TRUST STATEMENT OF CASH FLOWS YEAR ENDED 5 APRIL 2021

2021 2020
Note
£ £
Cash used in operating activities a (977,057) (850,986)
Cashflows from investing activities
Purchase of investments (1,124,633) (1,485,405)
Proceeds from sale of investments 1,336,254 1,218,962
Decrease in investment portfolio cash (22,540) 345,624
Investment income 632,584 816,672
821,665 895,853
Increase in cash at bank and on deposit (155,392) 44,867
Cash at bank and on deposit at beginning of year 611,616 566,749
Cash at bank and on deposit carried forward 456,224 611,616
Note to Statement of cash flows
2021 2020
£ £
a Reconciliation of Net expenditure to
Net Cash outflow from Operating Activities
Net Income/(expenditure) 3,714,894 (4,001,483)
(decrease)/increase in creditors (48,278) 39,082
Investment income (632,584) (816,672)
(Gains)/losses on investments (4,011,089) 3,928,087
(977,057) (850,986)

There is no debt held by the charity.

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

1 Principal Accounting Policies

Please refer to the 'Reference and administrative information' shown on page 1 of the accounts for details regarding the Sir Harold Hood Charitable Trust.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(a) Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities (effective 1 January 2019) preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP(FRS102) (Second Edition)).

The Sir Harold Hood Charitable Trust meets to definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

(b) Going Concern

The Trustees consider there are no material uncertainties about the Charity's ability to continue as a going concern. The review of our financial position, reserves level and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future.

The detrimental effect the Covid-19 pandemic has had on the world's economies has resulted in significant uncertainty regarding the future level of the charity's investment income. However, all of the charity's distributions are discretionary and no distribution commitments have been given for the year ending 5 April 2021 or future years. Consequently, the Trustees are able to manage the charity's financial affairs to accommodate any reduction in its income. Given the solid level of the charity's general reserve and the discretionary nature of the charity's distributions The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future.

(c) Income

Investment income and other sundry income and is accounted for on a receivable basis. Investment income represents the net amounts received plus income tax deducted and tax credit transitional relief.

(d) Expenditure

Expenditure is recognised on an accruals basis. Investment Management Costs comprise the investment managers' fees together with property expenses for the property held. Governance costs comprise those of running the charity, namely audit and accountancy fees and bank charges.

(e) Investments

Investments are stated at their middle market values ruling at the balance sheet date. The realised and unrealised gains and losses on investments are calculated based on the opening market values and are accounted for within the Statement of Financial Activities.

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

(f) Investment properties

Investment properties are included in the balance sheet at their estimated market value at the balance sheet date. The valuation of investment properties is performed periodically by the Trustees with professional valuations obtained at least every five years. As these assets are recorded at market value no charge is made for depreciation in the accounts. This is an area of judgement as only a desktop valuation has been performed and there are still uncertainties around Covid-19 and Brexit.

Realised and unrealised gains and losses on investment properties are included within the Statement of Financial Activities in the year in which they arise.

(g) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(h) Cash and cash equivalents

Cash and cash equivalents includes cash and short term highly liquid investments with short term maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(i) Estimates and judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Trustees' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The trustees consider the value of the freehold property to be based on estimates however do not consider there to be any other estimates and judgements.

(j) Capital Fund

The Capital Fund represents those assets settled into trust, together with any movements in their values. The Capital Fund is designated by the Trustees for internal purposes only and is not subject to any restrictions regarding distribution.

(k) Grants and donations

Grants to the making of which the Trustees have committed themselves are charged in the Statement of Financial Activities in the year in which the commitment is made and are carried forward under creditors until paid.

(l)

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initally recognised at transaction value and subsequently measured at amortised cost.

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

2 Investment Income
UK dividends
UK Unit Trust dividends
UK Real Estate Investment Trust distributions
UK fixed interest
Overseas dividends
Overseas fixed interest
Brokers interest
Bank Interest
3 Raising Funds
Investment fee
Property costs:
Council Tax
Utilities
Security
Insurance
Repairs
Architects fee
Survey fee		 2021
£
395,777
51,764
21,619
39,576
69,685
54,154
-
9
632,584
2021
£
77,559
1,567
1,792
1,676
10,042
2,080
-
-
94,716		 2020
£
532,961
57,522
26,532
30,040
103,898
63,254
2,466
-
816,672
2020
£
79,089
1,517
2,300
1,607
9,248
3,040
9,600
3,600
110,001

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

4 Analysis of Charitable Expenditure
Grants to institutions by category:
Single Grants
Aid
Churches
Education
Homeless
Hospitals
Leprosy
Missionary
Nursing
Prisoners
Retreat Centre
Schools
Seminary
Vatican
Youth
Special grants
Emergency grants
Adjustments in year
Governance costs (note 5)		 2021
£
144,000
5,000
202,000
103,000
25,000
3,000
30,000
37,000
12,000
40,000
50,000
6,000
4,000
-
60,000
43,000
54,000
-
14,453
832,453		 2020
£
144,000
5,000
207,000
94,000
25,000
4,000
30,000
38,000
10,000
40,654
55,000
6,000
8,000
5,000
60,000
43,000
2,000
(11,000)
14,342
779,996

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

Names of institutions and amounts paid:
Ace of Clubs, Clapham
Across, Beckton
African Mission, based in London SE1
Aid to the Church in Need UK - Lebanon
Aid to the Church in Need UK - Pakistan and Argentina
Aid to the Church in Need UK - Syria
Aid to the Church in Need UK - Ukraine
Anawim, Birmingham
Apostleship of Jesus Seminary
Bishops WIllingers School, Uganda
Brentwood Catholic Children's Society
CaFE - Catholic Faith Exploration
Cambridge Nazareth Trust
Cardiff Oratory
Cardinal Hume Centre
Caritas Anchor House, East London
Caritas Social Action Network
Catholic Bishops' Conference, 'Parliamentary & Public Affairs'
Catholic Children's Society, Plymouth
Catholic Children's Society, Westminster
Catholic for AIDS Prevention and Support, London
Catholic Marriage Care
Catholic Parish of St Mary & St Thomas More,
Cannock, Staffs.
CHAS Bristol
Church in Pian de Pieta, Italy
City Pregnancy Counselling Psychotherapy
Clergy Support Fund, Archdiocese of Southwark
Corpus Christi Church, London
Craig Lodge Trust
Depaul UK
Diocese of Aberdeen
Diocese of Argyll & The Isles
Diocese of Brentwood
Diocese of Eluru, India
Diocese of Guntur, India
Diocese of Hexham & Newcastle, St Bedes, Jarrow
Diocese of Menevia
Diocese of Mibeya, Tanzania
Diocese of Nottingham
Downside Abbey
Downside School
Carried forward		 2021
£
12,000
-
1,000
7,000
13,000
-
-
2,000
2,500
1,000
2,000
-
3,000
-
13,000
2,000
-
2,000
2,000
8,000
-
3,000
1,000
3,000
-
4,000
15,000
-
50,000
2,000
4,000
3,000
12,000
2,000
1,000
10,000
-
1,000
28,000
60,000
40,000
309,500		 2020
£
12,000
3,000
-
-
-
17,300
2,700
2,000
-
-
3,000
2,000
-
1,000
13,000
-
4,000
3,000
2,000
8,000
1,000
-
-
-
20,000
-
-
3,000
55,000
-
4,000
3,000
10,000
1,000
-
10,000
6,000
-
28,000
50,000
40,000
304,000

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

Names of institutions and amounts paid:
Brought forward
Downside Fisher Youth Club
Duchess of Leeds Foundation
Emusoi Centre, Arusha,Tanzania-Maryknoll Sisters New York State
Emusoi Centre,Tanzania- Sr Mary Vertucci Maryknoll
Sisters
English Martyrs Church, Reading
Explore, Diocese of Portsmouth
Farleigh School, Andover, Hampshire
Father Hudson's Care, Birmingham
Francis House Children's Hospice, Manchester
Friends of Bethlehem Univesity, Bedford
Friends of Kipkelion, Kenya - UK charity
Friends of St Michael's Primary School, Uganda - Bath
Friends of the Holy Father
Friends of the Holy Land, Kenilworth, Warks.
Friends of the Holy Land
Friends of Kipkelion - Londiani parish, Kenya
Friends of the Rosary Shrine, London
Global Fund for Forgotten People, Oxon
HCPT Handicapped Children's Pilgrimage Trust
Handmaids of Mary, Clapham
Holy Cross Priory, Dominicans, Leicester
Holy Ghost Fathers, UK Province
Hospice, Hospital of St John & St Elizabeth
Housing Aid Bosnia & Rwanda, Daughters of the Holy Spirit
International Refugee Trust, Chiswick
Iraqi Christians in Need, Surrey
Iraqi Christians in Need,
Kenelm Youth Trust, Alton
La Sainte Union (Holy Union Sisters), Bath
Lebenaon Order of Malta Releif
Little Friends Centre, Botswana (SVP UK)
Little Sisters of the Poor, Leeds
Longford Trust
Loyola Jesuit Secondary School, Malawi - Jesuit Missions
Margaret Beaufort Institute of Theology, Cambridge
Marriage Care, London
Mary's Meals
Maryvale Institute, Birmingham
Million Minutes
Missio England and Wales
Missionary Sisters of the Blessed Virgin Mary, Uganda
Nehemiah Project, Streatham, London
Noah Enterprises - Winter Shelter, Luton
Our Lady and St Catherine Church, London
Our Lady and St John Church, Goring-on-Thames
Carried forward		 2021
£
309,500
30,000
30,000
6,000
1,000
1,000
-
-
-
-
-
2,500
1,000
-
3,000
10,000
-
-
12,000
12,000
1,000
-
3,000
2,000
2,000
4,000
1,000
3,000
3,000
10,000
5,000
-
3,000
3,000
5,000
4,000
2,000
2,000
1,000
3,000
2,000
-
-
-
5,000
482,000		 2020
£
304,000
30,000
25,000
7,000
-
-
1,000
1,000
3,000
1,000
2,000
-
2,600
5,000
-
-
2,500
3,000
5,000
12,000
10,000
-
2,000
4,000
-
-
-
-
-
-
-
5,000
500
3,000
3,000
-
-
1,000
2,000
1,500
2,500
2,000
3,000
2,000
1,000
6,000
452,600

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

Names of institutions and amounts paid:
Brought forward
Our Lady's Church, NW8
Our Lady of Good Health Church, Diocese ofVellore, India
Our Lady of Lourdes Church, Ashby-de-la-Zouch
Our Lady of Queen of Peace Catholic Church, Muhoroni, Kenya
Our Lady Star of the Sea and St Michael Church, Workington
Out There, Manchester
Order of Malta Italy
PACT (Prison Advice & Care Trust)
Providence Row, Tower Hamlets East London
Redemptors Mater House of Formation
Redemptorists, Zimbabwe - Scotland
Right to Life - Pro-Life Research Unit, London
Royal Navy RC Chaplaincy Trust, Portsmouth
Sacred Heart Church, Frinton-on-Sea
Sacred Heart, Holloway, London
San Jose, Chile - Retreat Centre
San Lorenzo, Chile - School
Shrine of San Liberato, Italy
Sisters of the Assumption, Kisaki/Singida, Tanzania - Strawberry Hill
SS Peter and Paul RC Church, Leyburn, Diocese of Middlesbrough
St Andrew's Hospice, North and South Lanarkshire
St Anthony's Health Centre, Uganda
St Augustine College of South Africa, Johannesburg
St Beuno's Jesuit Spirituality Centre, St Asaph, North Wales
St Birinus' Church, Dorchester-on-Thames
St David's Marist Inanda, South Africa
St Don Bosco Girls Secondary School, Tanzania
St Elizabeth's, Much Hadham
St Francis Leprosy Guild
St Gemma's Hospice, Leeds
St Gerard's Catholic Church, Castle Vale, Birmingham
St Giles's Church, Cheadle
St Johns Hospice NW8
St Joseph's Church, Thame
St Joseph's Home for Chronically Ill Children, South Africa
St Joseph's Hospice, Hackney
St Joseph's Pastoral Centre
St Joseph's Pastoral Centre/Caritas Westminster
St Joseph's Specialist School, Cranleigh, Surrey
St Mary's College, Crosby
St Nicholas of Tolentino Church, Bristol
St Pio Friary, Franciscan Friars of the Renewal, Bradford
St Raphael's Hospice, North Cheam
St Richards Reynolds Catholic College
St Thomas More RC Church, Coventry
St Vincent's Family Project, London
St Vincent's - SVP Furniture Store, Sheffield
Carried forward		 2021
£
482,000
3,000
1,000
4,000
1,000
-
2,000
10,000
40,000
2,000
-
6,000
10,000
15,000
3,000
7,000
4,000
7,000
20,000
-
1,000
3,000
2,000
2,000
1,000
-
4,000
-
3,000
30,000
-
1,000
-
5,000
-
2,000
3,000
18,000
2,000
-
1,000
20,000
4,000
2,000
45,000
-
-
2,000
768,000		 2020
£
452,600
3,000
-
5,000
-
5,000
-
-
40,654
-
6,000
6,000
-
15,000
3,000
7,000
4,000
7,000
20,000
5,000
-
-
2,000
-
-
3,000
4,000
1,000
2,000
30,000
2,000
-
2,000
-
2,000
2,400
-
20,000
-
5,000
1,000
-
-
-
45,000
2,000
2,000
-
704,654

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

Names of institutions and amounts paid:
Brought forward
St Vincent de Paul Mission Hospital, Kenya - Sisters of Mercy, Worthing
St Vincent Furniture Store, Sheffield
St Wilfred's Centre, Sheffield
St Wulstan's Church, Malvern
Stella Maris (formerly Apostleship of the Sea)
The Ordinariate of Our Lady of Walsingham, London
Tijuana Cathedral, Mexico
Venerable English College, Rome
Westminster Cathedral
Wintershall Education, Surrey
Young Christian Workers, Manchester
Youth Alive, Zimbabwe - Franciscan Missionary Sisters of Africa, Ireland
Youth Alive, Zimbabwe - Sr Eunice Quigley FMSA
Youth Ministry Trust, Diocese of Hexham and Newcastle
Youth 2000
Grants pledged but no longer required
2018 grant incorrectly carried forward
Governance costs (note 5)
5 Analysis of Governance Costs
Accountancy fees
Statutory audit fees
Sundry expenses		 2021
£
768,000
-
-
-
-
3,000
5,000
-
4,000
20,000
4,000
2,000
-
1,000
1,000
10,000
-
-
14,453
832,453
2021
£
6,200
7,200
1,053
14,453		 2020
£
704,654
3,000
2,000
4,000
5,000
2,000
-
10,000
8,000
15,000
4,000
-
4,000
-
10,000
(1,000)
(10,000)
14,342
779,996
2020
£
6,600
6,960
782
14,342

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

6 Investments
Shares and Securities
Fixed interest:
United Kingdom
Overseas
Equities:
United Kingdom
Overseas
Alternatives
Cash held as part of
the portfolio
Market value as at 6 April 2020
Add: Acquisitions at cost/transfer value
Less: Disposals at market value - Proceeds
Add: net gain on investments/(net loss)
Increase/(Decrease) in investment portfolio cash
Market value at 5 April 2021
Property
31 Avenue Road, NW8 - market value as at 5 April 2016		 2021
£
756,051
578,828
12,583,909
5,390,740
-
191,978
19,501,506
15,679,498
1,124,633
(1,336,254)
4,011,089
22,540
19,501,506
2021
£
15,000,000
15,000,000		 2020
£
587,019
1,108,468
10,840,776
2,644,498
329,299
169,438
15,679,498
19,686,766
1,485,405
(1,218,962)
(3,928,087)
(345,624)
15,679,498
2020
£
15,000,000
15,000,000

Note: On 17 March 2009, voluntary income from the Estate of Sir Harold Joseph Hood deceased, in the form of his main residence, was settled on Trust. This property was valued at £10,000,000 on the date of transfer. Investment properties are included at their estimated open market valuation at the balance sheet date. The valuation of investment properties is performed by the Trustees annually. A informal desktop valuation was carried out by Beauchamp Estates last year and based upon this, the Trustees have valued the property as at 5 April 20 21 at £1 5 , 00 0,000.

7
Creditors: amounts falling due within one year, accruals and
grants pledged
Accruals
Grants yet to clear
Investment
management fees
Property utilities		 2021
£
13,400
20,000
1,040
34,440		 2020
£
12,960
52,500
16,463
795
82,718

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

8 Related Party Transactions

No Trustees have received any remuneration or expenses during the year to 5 April 2021 (2020: Nil).

During the year , the Trust made grants of £ 60,000 to Downside Abbey and £ 30,000 to St Francis Leprosy Guild. One of the trustees, Dom James Hood, is also a Trustee of Downside Abbey . One of the trustees, Margaret Hood Is also a Trustee of the St Francis Leprosy Guild (since resigned 1 August 2021).

There were no other related party transactions in the year.

9 Analysis of Net Assets Between Funds

Represented by:
Listed Investments
Property
Current Assets
Current Liabilities		 Unrestricted Funds
Income
Capital
Fund
Fund
£
£
-
19,494,822
-
15,000,000
34,440
428,468
(34,440)
-
-
34,923,290		 Total
Funds
£
19,494,822
15,000,000
462,908
(34,440)
34,923,290

9 a. Comparative Analysis of Net Assets Between Funds

Represented by:
Listed Investments
Property
Current Assets
Current Liabilities		 Unrestricted Funds
Income
Capital
Fund
Fund
£
£
-
15,679,498
-
15,000,000
82,718
528,898
(82,718)
-
-
31,208,396		 Total
Funds
£
15,679,498
15,000,000
611,616
(82,718)
31,208,396

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

10 Comparative Statement of Financial Activities
Unrestricted Funds
Income Capital Total Total
Fund Fund 2020 2019
£ £ £ £
INCOME FROM:
Investments 816,672 - 816,672 810,895
Total Income 816,672 - 816,672 810,895
EXPENDITURE ON:
Raising Funds 110,001 - 110,001 108,450
Charitable Activities:
Grants awarded 779,996 - 779,996 794,472
Total Expenditure (889,997) - (889,997) (902,922)
Net expenditure before gains/(losses) in (73,325) (73,325) (92,027)
investments -
Other recognised (losses)/gains:
(Loss)/gain on investments - (3,928,087) (3,928,087) 732,140
Unrealised gain on Property - - - 750,000
Exchange rate loss (822) 751 (71) -
Net (expenditure)/income (74,147) (3,927,336) (4,001,483) 1,390,113
Transfers between funds 74,147 (74,147) - -
NET MOVEMENT IN FUNDS - (4,001,483) (4,001,483) 1,390,113
Total funds brought forward - 35,209,879 35,209,879 33,819,766
Total funds carried forward - 31,208,396 31,208,396 35,209,879