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2023-04-05-accounts

SIR HAROLD HOOD CHARITABLE TRUST REGISTERED CHARITY NO: 225870

ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2023

Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

SIR HAROLD HOOD CHARITABLE TRUST

CONTENTS

Page
Trustees' Report 1 - 4
Independent Auditors' Report 5 - 7
Statement of Financial Activities 8
Balance Sheet 9
Statement of Cash Flows 10
Notes to the Financial Statements 11 - 19

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 2023

The Trustees present their annual report and accounts for the year ended 5 April 2023.

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

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 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:

The Trustees have mitigated these risks by:

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 8 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 £6,764 for the year ended 5 April 2023 (2022: Loss of £10,581) and an unrealised loss calculated on the same basis arose at the year end of £1,404,542 (2022: profit £1,349,111). An informal desktop valuation of the property was carried out by Arlington Residential in 2022 and based upon this, the Trustees have valued the property as at 5 April 2023 at £18,000,000, giving rise no gain/loss (2022: gain £3,000,000).

During the year ended 5 April 2023, income was £737,975 (2022: £732,382).

Management expenses in the year ended 5 April 2023 amounted to £102,725 (2022: £106,165).

After grants, net expenditure, before net investment gains, were therefore £120,072 (2022: £135,319).

There was no undistributed income balance at 5 April 2023 (2022: None).

Grants

During the year ended 5 April 2023 grants were made to Roman Catholic charitable organisations of £750,750 (2022: £745,900). The Trustees consider that future distributions can continue to be financed from the Trust Fund at this level.

Going Concern

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.

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 £37,608,898 (2022: £39,126,748).

Plans for the future

The Trust is managed with a view to it being able to continue its activities for the future. The trustees will continue to award grants in line with the current strategy and purpose of supporting RC causes.

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

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

25/11/2023 ........................................ 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 2023 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.

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

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:

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:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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

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.

2 February 2024

.................................................................. .................................................................. 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 2023

Unrestricted Funds
Income
Capital
Note
Fund
Fund
£
£
INCOME FROM:
Investments
2
737,975
-
Total Income
737,975
-
EXPENDITURE ON:
Raising Funds
3
102,725
-
Charitable Activities:
Grants awarded
4
755,322
-
Total Expenditure
(858,047)
-
Net expenditure before (losses) in investments
(120,072)
-
Other recognised (losses)/gains:
(Losses)/gains on investments
6
-
(1,397,778)
Unrealised gain on Property
6
-
-
Exchange rate gain
-
-
Net (expenditure)/income
(120,072)
(1,397,778)
Transfers between funds
120,072
(120,072)
NET MOVEMENT IN FUNDS
-
(1,517,850)
Total funds brought forward
-
39,126,748
Total funds carried forward
-
37,608,898		 Total
2023
£
737,975
737,975
102,725
755,322
(858,047)
(120,072)
(1,397,778)
-
-
(1,517,850)
-
(1,517,850)
39,126,748
37,608,898		 Total
2022
£
732,382
732,382
106,165
761,536
(867,701)
(135,319)
1,338,530
3,000,000
247
4,203,458
-
4,203,458
34,923,290
39,126,748

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 2023

Note
FIXED ASSETS
Investments
6
Property
6
CURRENT ASSETS
Cash
LESS: CURRENT LIABILITIES
Creditors: amounts falling due within one
year
7
NET CURRENT ASSETS
NET ASSETS
REPRESENTED BY
Capital Fund
9		 2023
£
472,501
(59,080)		 £
19,195,477
18,000,000
37,195,477
413,421
37,608,898
37,608,898
37,608,898		 2022
£
463,043
(36,292)		 £
20,699,997
18,000,000
38,699,997
426,751
39,126,748
39,126,748
39,126,748

Approved by the Trustees and signed on their behalf by:

Margaret Hood

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

25/11/23 Date

........................................

SIR HAROLD HOOD CHARITABLE TRUST STATEMENT OF CASH FLOWS YEAR ENDED 5 APRIL 2023

2023 2022
Note
£ £
Cash used in operating activities a (835,259) (865,602)
Cashflows from investing activities
Purchase of investments (1,132,239) (1,975,851)
Proceeds from sale of investments 762,217 2,427,682
Decrease in investment portfolio cash 476,764 (311,792)
Investment income 737,975 732,382
844,717 872,421
Increase in cash at bank and on deposit 9,458 6,819
Cash at bank and on deposit at beginning of year 463,043 456,224
Cash at bank and on deposit carried forward 472,501 463,043
Note to Statement of cash flows
2023 2022
£ £
a Reconciliation of Net expenditure to
Net Cash outflow from Operating Activities
Net Income (1,517,850) 4,203,458
increase in creditors 22,788 1,852
Investment income (737,975) (732,382)
(Gains) on investments 1,397,778 (1,338,530)
Unrealised gain on property - (3,000,000)
(835,259) (865,602)

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.

(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.

(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.

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

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

(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
Sundry
Repairs
4
Analysis of Charitable Expenditure
Grants to institutions by category:
Single Grants
Aid
Churches
Education
Homeless
Hospitals
Missionary
Nursing
Prisoners
Retreat Centre
Schools
Youth
Special grants
Emergency grants
Adjustments in year
Governance costs (note 5)		 2023
£
421,077
87,565
19,650
32,772
125,831
41,220
7,835
2,025
737,975
2023
£
80,445
1,584
8,174
503
10,214
365
1,440
102,725
2023
£
112,750
2,000
263,000
95,000
27,000
5,000
28,000
12,000
45,000
50,000
8,000
58,000
45,000
-
(18,385)
22,957
755,322		 2022
£
450,299
88,837
22,466
37,987
100,526
32,119
132
16
732,382
2022
£
86,937
1,662
4,024
699
10,608
-
2,235
106,165
2022
£
139,900
-
194,000
95,000
27,000
3,000
37,000
12,000
45,000
50,000
8,000
58,000
43,000
28,000
6,000
22,957
761,536

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

Names of institutions and amounts paid:
Accross, Stansted
Ace of Clubs, Clapham
African Mission, based in London SE1
Aid to the Church in Need UK - Lebanon
Aid to the Church in Need UK - Nigeria
Aid to the Church in Need UK - Ukraine
Aid to the Church in Need UK - India
Aid to the Church in Need UK - Italy for Ukrainian C C
Aid to the Church in Need UK - Syria Sharing Bread
Blackfriars Dominican Priory, Cambridge
Borderlands, Bristol
Brentwood Catholic Children's Society
CAFOD
Cardinal Hume Centre
Catholic Bishops' Conference, 'Parliamentary & Public Policy Internships
Catholic Chaplaincy at Queen's University, Belfasth
Catholic Children's Society, Plymouth
Catholic Children's Society, Westminster
Catholic for AIDS Prevention and Support, London
CCS Adoption (Clifton Children's Society) Bristol
CHAS, Bristol
Church in Pian de Pieca, Italy
Church Of Our Lady
Churchof our Lady Queen of Peace, Richmond
Clergy Support Fund, Archdiocese of Southwark
Craig Lodge Trust
Depaul UK
Daughters of Charity Services, London SW1
Diocese of Aberdeen
Diocese of Argyll & The Isles - St Mary & Finnan
Diocese of Brentwood, ex Anglican married priests
Diocese of Hexham & Newcastle, St Bedes, Jarrow
Diocese of Leeds Music
Diocese of Leeds St Cuthbert's Church, Bradford
Diocese of Leeds St Edwards's Church, Clifford
Diocese of Leeds Holy Rosary Catholic Church, Leeds
Diocese of Nottingham
Diocese of Salford, St Mary's Church Manchester
Downside Abbey
Downside School
Carried forward		 2023
£
2,000
12,000
2,000
-
-
-
-
4,000
7,000
3,000
6,000
2,000
-
13,000
2,000
-
1,000
8,000
-
3,000
4,000
25,000
-
10,000
15,000
50,000
2,000
4,000
4,000
2,000
12,000
10,000
2,000
1,000
1,000
1,000
28,000
2,000
60,000
40,000
338,000		 2022
£
-
12,000
-
7,000
9,000
14,000
10,000
-
-
-
5,000
-
1,000
13,000
-
2,000
-
8,000
1,000
-
-
-
3,000
6,000
15,000
50,000
2,000
-
4,000
3,000
-
10,000
-
-
-
-
28,000
-
60,000
40,000
303,000

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
Fellowship and Aid to the Christians of the East
Franciscan Missionary Sister of Africa
Friends of Jesus Missionary Society
Friends of Kipkelion, Kenya - UK charity
Friends of St Michael's Primary School, Uganda - Bath
Friends of the Holy Land
Global Fund for Forgotten People, Oxon
Growing Old Gracefully, Diocse of Leeds
HCPT Hosanna House and Children's Pilgrimage Trust
Handmaids of Mary, Clapham
Holy Union Sisters, Dar es Salaam, Tanzania
Hospice, Hospital of St John & St Elizabeth
Jesuit Missions, London N2
Kenelm Youth Trust, Alton
Kerala Crafts
Little Friends Centre, Botswana (SVP UK)
Little Sisters of the Poor, Leeds
Londani Catholic Parish
Longford Trust
Loyola Jesuit Secondary School, Malawi - Jesuit Missions
Marian Brothers, Tanzania (through the Diocese of Arua)
Marriage Care, London
Marriage Care, Nottingham
Mary Knoll Sisters of St Dominic
Maryvale Institute, Birmingham
Missionary Sisters of the Blessed Virgin Mary, Uganda
Nehemiah Project, Streatham, London
Noah Enterprises - Winter Shelter, Luton
Our Lady and St John Church, Goring-on-Thames
Our Lady's Church, NW8
Our Lady of Lourdes Church, Ashby-de-la-Zouch
Oratory School Reading
Parish of Santa Maria in Piazza, Sarnano Italy
PACT (Prison Advice & Care Trust)
Providence Row, Tower Hamlets East London
Quarr Abbey, Isle of Wight
Redemptors Mater House of Formation
Redemptorists, Zimbabwe - Scotland
Right to Life - Pro-Life Research Unit, London
Royal Navy RC Chaplaincy Trust, Portsmouth
Carried forward		 2023
£
338,000
30,000
30,000
5,000
2,000
-
-
2,000
2,000
-
-
1,000
10,000
12,000
-
5,000
3,000
4,000
-
5,000
750
-
3,000
2,000
-
-
4,000
-
-
3,000
-
-
3,000
3,000
3,000
7,000
25,000
45,000
6,000
-
-
7,000
5,000
17,000
582,750		 2022
£
303,000
30,000
30,000
5,000
3,000
2,000
5,000
2,000
1,700
3,000
10,000
1,000
10,000
12,000
3,000
3,000
-
5,000
1,000
5,000
1,000
2,000
3,000
3,000
3,000
4,000
-
1,000
2,000
3,200
5,000
3,000
3,000
3,000
3,000
7,000
-
48,000
5,000
3,000
4,000
7,000
5,000
15,000
567,900

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

Names of institutions and amounts paid:
Brought forward
Sacred Heart Church, Frinton-on-Sea
Sacred Heart Church, Holloway, London
San Jose, Chile - Retreat Centre
San Lorenzo, Chile - School
Shrine of San Liberato, Italy
Sisters of the Assumption, Kisaki/Singida, Tanzania
St Anthony's Health Centre, Uganda
St David's Marist Foundation Inanda, South Africa
St Elizabeth's, Church, Richmond
St Elizabeth's, Much Hadham
St Joseph's Catholic Church, Bradford
St Joseph's Home for Chronically Ill Children, South Africa
St Joseph's Hospice, Hackney
St Joseph's Pastoral Centre, Hendon
St Mary's College, Crosby
St Mary's RC Chapel, Crathorne, North Yorkshire
St Nicholas of Tolentino Church, Bristol
St Richards Reynolds Catholic College
St Vincent's de Paul Furniture Project, Sheffield
St Vincent's de Paul Society, London SE!
St Vincent's Family Project, London SW!
St Wilfred's Centre, Sheffield
Ushaw Historic House, Chapels and Gardens, Durham
Wardour Chapel, Wiltshire
Westminster Cathedral
Wintershall Education, Surrey
Youth Alive, Zimbabwe
Youth 2000
Return of Grant - 2021 Parish of Santa Maria in Piazza, Sarnano Italy
Governance costs (note 5)		 2023
2022
£
£
582,750
567,900
2,000
3,000
7,000
7,000
4,000
4,000
8,000
8,000
25,000
20,000
-
4,000
-
1,000
4,000
4,000
-
2,000
2,000
-
-
3,000
2,000
2,000
2,000
3,000
18,000
18,000
1,000
1,000
-
3,000
-
10,000
45,000
46,000
2,000
-
4,000
-
2,000
-
-
5,000
2,000
-
4,000
-
20,000
20,000
2,000
2,000
2,000
2,000
10,000
10,000
(18,385)
-
22,957
15,636
755,322
761,536

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

5
6		 Analysis of Governance Costs
Accountancy fees
Statutory audit fees
Sundry expenses
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 2022
Add: Acquisitions at cost/transfer value
Less: Disposals at market value - Proceeds
Less: net loss/gain on investments/(net loss)
Increase in investment portfolio cash
Market value at 5 April 2023
Property
31 Avenue Road, NW8 - market value as at 5 April 2016
Unrealised gain on
property		 2023
2022
£
£
7,890
7,054
14,460
7,920
607
662
22,957
15,636
2023
2022
£
£
941,460
687,303
298,811
315,752
9,580,597
10,172,880
6,160,296
6,311,903
2,187,307
2,708,389
27,006
503,770
19,195,477
20,699,997
20,699,997
19,501,506
1,132,239
1,975,851
(762,217)
(2,427,682)
(1,397,778)
1,338,530
(476,764)
311,792
19,195,477
20,699,997
2023
2022
£
£
18,000,000
15,000,000
-
3,000,000
18,000,000
18,000,000

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 Arlington Residential last year and based upon this, the Trustees have valued the property as at 5 April 2023 at £18,000,000.

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

7
Creditors: amounts falling due within one year, accruals and grants
pledged
Accruals
Investment
management fees
Property utilities
Grants		 2023
£
21,390
20,225
1,465
16,000
59,080		 2022
£
14,400
21,892
-
-
36,292

8 Related Party Transactions

No Trustees have received any remuneration or expenses during the year to 5 April 2023 (2022: Nil).

During the year, the Trust made grants of £60,000 and £40,000 to Downside Abbey. One of the trustees, Dom James Hood, is also a Trustee of Downside Abbey.

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
£
£
-
19,195,477
-
18,000,000
59,080
413,421
(59,080)
-
-
37,608,898		 Total
Funds
£
19,195,477
18,000,000
472,501
(59,080)
37,608,898

9 a. Comparative Analysis of Net Assets Between Funds

Represented by:
Listed Investments
Property
Current Assets
Current Liabilities		 Unrestricted Funds
Income
Capital
Total
Fund
Fund
Funds
£
£
£
-
20,676,974
20,676,974
-
18,000,000
18,000,000
36,292
449,774
486,066
(36,292)
-
(36,292)
-
39,126,748
39,126,748

SIR HAROLD HOOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS

10 Comparative Statement of Financial Activities
Unrestricted Funds
Income Capital Total Total
Fund Fund 2022 2021
£ £ £ £
INCOME FROM:
Investments 732,382 - 732,382 632,584
Total Income 732,382 - 732,382 632,584
EXPENDITURE ON:
Raising Funds 106,165 - 106,165 94,716
Charitable Activities:
Grants awarded 761,536 - 761,536 832,453
Total Expenditure (867,701) - (867,701) (927,169)
Net expenditure before gains/(losses) in (135,319) (135,319) (294,585)
investments -
Other recognised (losses)/gains:
(Loss)/gain on investments - 1,338,530 1,338,530 4,011,089
Unrealised gain on Property - 3,000,000 3,000,000 -
Exchange rate loss - 247 247 (1,610)
Net (expenditure)/income (135,319) 4,338,777 4,203,458 3,714,894
Transfers between funds 135,319 (135,319) - -
NET MOVEMENT IN FUNDS - 4,203,458 4,203,458 3,714,894
Total funds brought forward - 34,923,290 34,923,290 31,208,396
Total funds carried forward - 39,126,748 39,126,748 34,923,290