Sir Harold Hood Charitable Trust Annual Report and Financial Statements 5 April 2024 Ch8rity Regislr31ion Number 225870
Contents Reports Reference and adminislralive infomialion Trustees, report Independent auditor's report Financial statements Statement of financial activities 10 Balance sheet Statement of cash flows 12 Principal accounting policies 13 Notes to the financial statements 15 Sir Harold Hood Charitable Trust
Reference and administrative information Trustees Margaret Marie Elizabeth Felicia Hood The Lord True, CBE Dom James Hood OSB The Lady True Christian Edward Elwes Principal office PO Box 52492, London, NW3 9DY Charity registration number 225870 Auditors Buzzacott LLP 130 Wood Street London EC2V 6DL Bankers and investment managers C Hoare & Co 37 Fleet Street London EC4P 4DQ Solicitors Laytons Solicitors, 2 More London Riverside, SE1 2AP Sir Harold Hood Charitable Trust 1
Trustees. report Year ended 5 April 2024 The Trustees present their annual report and accounts for the year ended 5 April 2024. The accounts have been prepared in accordance wtth 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 lo charities preparing their Financial Statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {Second Edition). Structure. govemance 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 wtth skills and experience which are of value lo the Charity. on 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 On a year lo discuss the annual accounts and lo agree the list of grants for the forthcoming year. Rlsk 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 miligale the exposure to the major risks. The Trustees have identified the following risks.. Investments will drop in value., and Donations made will not be spent how the Trustees would like. The Trustees have mitigated these risks by.. Appointing a professional firm to manage the investments., and Actively reviewing the donations and asking for updates. Sir Harold Hood Charitable Trust 2
Trustees. report Year ended 5 April 2024 Key Management Personnel The Iruslees consider the board of trustees the key management personnel of the charty in charge of directing and controlling, running and operating the Charity on a day to day basis. All trustees give of Iheirtime freely and no director received remuneration in the year. Details of directors, expenses and related paty transactions are disclosed in note 8 to the accounts. Investment policy and performance In accordance with the Trust deed, the Trustees have the power lo invest in such stocks, shares, investments and property as they see fit. The Trustees engage Ralhbones 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. Objectives and activities for public benefit The Iruslees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit "Charities and Public Benefit.. All funds are unreslricled and the Trustees, policy is to retain sufficient capital for the maintenance of the trust. The balance of income al the year-end is considered at the Trustees. meeting. A minimum reserve of income is maintained to Ver fluclualions in income. whilst ensuring that the grants are paid. The Trust directs that the Trustees sh811 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 lime, think fit. The Trustees shall be enlilled lo accept the receipt of any person whom they consider lo 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 al 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 fft. Performance The financial statements show the investments al market value. The 'gainlllossl' on investments is based on their opening market value and resulted in an overall gain of £98,231 for the year ended 5 April 202412023.. Loss of £1,397,778), consisting of realised losses on disposal of £36,696 and unrealised gains, calculated by reference to changes in market value, of £134,927 12023.. profit £6,764 on disposals and loss of £1,404,542 on changes in market value). The Trustees have valued the investment property as al 5 April 2024 at £20,000,000, recognising a valuation gain of £2,000,000 {2023.' gain £nill. During the year ended 5 April 2024, income was £833,82312023: £737.9751. Sir Harold Hood Charitable Trust 3
Trustees. report Year ended 5 April 2024 Performance (continued) Investment management expenses and property costs in the year ended 5 April 2024 amounted lo £100,298 12023.. £102,725}- After grants, nel expenditure before net investment gains, was £20,94612023'. £120,072) which was covered by a transfer from the capital fund. There was no undislributed income balance at 5 April 202412023.. None). Grants During the year ended 5 April 2024 grants were made to Roman Catholic charitable organisalions of £754,47112023.. £755,322). The Trustees consider that future distributions can continue lo 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. ResoNes 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 £39,685,54212023'. £37,608,898). Plans for the future The Trust is managed with a view to it being able lo continue ils activities for th8 future. The trustees will continue to award grants in line with the current strategy and purpose of supporting RC causes. Statamant of Truste8s' Responsibilities The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practi1. The law applicable lo charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the chartty 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.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial slatemenls., prepare the financial statements on the going conrn basis unless il is inappropriate lo assume that the charity will be able lo continue lo meet its objectives. Sir Harold Hood Charitable Trust 4
Trustees. report Year ended 5 April 2024 Statement of Trustees. Responslbllltles Iconlinuedl 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 {Accounls 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, lo ensure that they become aware of any relevant audit information and that they confimi that the Charitsble Trust's auditors have been made aware of such information. IhoA Margaret Marie Elizabeth Felicia Hood Trustee Approved on '. 0310212025 Sir Harold Hood Charitable Trust 5
Independent auditor's report Year ended 5 April 2024 Indgpgndgnt auditor's roport to tho tw$t&9s of thg Sir Harold Hood Charitsb19 Trust Opinion We have audited the financial statements of the Sir Harold Hood Charitable Trust (the 'charily I for the year ended S April 2024 which comprise the statement of financial aclivilies, the balance sheet, statement of cash flows, the principal accounting policies, and the notes lo the financial slalements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial statements.. give a true and fair view of the state of the charty's 8ff8irs as at 5 April 2024 and of its incoming resources and application of resour$ for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and + have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We condLJCted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII 8nd 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 lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Stsndard, 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 lo provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the accounts, we have concluded that the Itustees use of the going concem basis of accounting in the preparation of the accounts is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast signrficanl doubl on the charity s abiltty lo continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report. Sir Harold Hood Charitable Trust 6
Independent auditor's report Year ended 5 April 2024 othor information The other information comprises the information included in the annual report, including the trustees, report, other than the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial stslemenls does not cover the other information and, except lo the exlenl otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial slalemenls or our knowledge obtained in the course of the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstslemenl in the financial stslemenls themselves. If, based on the Work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit. we have not identified material misstatements in the Iruslees, report. We have nothing lo report in respe¢t of the following mallers in relation lo which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion: • the infom)alion given in the Iruslees, report is inconsistent in any material respect with the accounts., or aéequate accounting records have not been kept., or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the trustees, responsibilities statement, the Iruslees 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 lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial stslemenls, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, mallers related to going COnM and using the going concem basis of accounting unless the Iruslees either intend to liquidate the charity or lo cease operations, or have no realistic altemalive bul to do so. Sir Harold Hood Charitable Trust 7
Independent auditor's report Year ended 5 April 2024 Auditor's responsibilities for the audit of the financial statements 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 Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, 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, bul is not a guarantee that an audit conducted in accordance with ISAS (UK} will always delecl a material misstalemenl when il 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 delect material misslalemenls in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of delecling irregularities. including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant are the Charities SORP FRS 102 and the Charities Act 2011. We understood how the charity is complying with those legal and regulatory frameworks by making inquiries to trustees and those responsible for legal, compliance and governance procedures. We corroborated our inquiries through our review of minutes from trustee meetings. We assessed the sUsptibIlity of the charity's financial statements to material misslalements, including how fraud might occur. Audit procedures perfomied by the engagement team included.. Identifying and assessing the design and implementation of controls in place to prevent and detect fraud., Perfomiing tests of completeness on the charity's financial records and assessing the requirement for adjustments to be made for the year-end for financial statement preparation,. and Assessing the extent of compliance with relevant laws and regulations by reviewing coThespondence with regulators and legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations lo enquiry of the Iruslees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder lo delecl than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.o .uklauditorsres onsibilities. This description fomis part of our auditor's report. Sir Harold Hood Charitable Trust 8
Independent auditor's report Year ended 5 April 2024 Usg of our report This report is made solely to the charity's trustees, as a body, in accordance with Chapter 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charity's trustees those matters we are required to stale lo them in an auditor's report and for no other purpose. To the fullest extent pemiitled by law, we do not accept or assume responsibility to anyone other than the charity and the charity s trustees as a body, for our audit work, for this report, or for the opinions we have formed. ststutory Auditor 130 Wood Street London EC2V 6DL Date: 3 February 2025 Buzzacotl LLP is eligible to act as an auditor in temis of section 1212 of the Companies Act 2006. Sir Harold Hood Charitable Trust 9
statement of financial activities Year ended 5 April 2024 {In¢luding income and expenditure account) Unrestrlcted funds Unr&81ricted funds Incom8 nd Capltal fund Total 2024 Income fund Capital fund Total 2023 Notes Incomo from.. Investments Total in¢omÈ 833,823 833,823 833,823 833,823 737.975 737.975 737,975 737,975 Expenditure on.. R818ing funds Chari13ble activities . Grants awarded Total oXPonditur6 100,298 100,298 102,725 102,725 754,471 854,769 754,471 854,769 755,322 858.047 755,322 858,047 N8t expendlturo before other galns and losses 120,9461 120.9461 1120.0721 1120,0721 Other recognised gain5 and losses.. Gainslllossesl on Inv8slm8nls Unrea1188d galn on Inveslmanl prop8rty ExGh3nge rate losses 98,231 98,231 11,397,778) 11,397,778) 2,lJOO,000 16411 2,000,000 16411 2,097,590 2,097,590 11,397,778) 11,397,778) Net Incom(expPlldIlUreI 120,9461 2,097,590 2,076,644 120.0721 11.397.778) 11.517,8501 Transfer between funils 20,946 120,9461 120.072 1120.0721 Net movernent in funds 2,076,644 2,076,644 11.517.850) 11.517,8501 Fund balance5 brought forward 37,608,898 37,608,698 39.126.748 39.126,748 Fund balances carried forward 39,685,542 39,685,542 37.608.898 37.608,898 All income and expenditure is derived from continuing activities. The stslemenl of financial activities includes all gains and losses recognised in the year. Sir Harold Hood Charitable Trust 10
Balance sheet as al 5 April 2024 2024 2024 2023 2023 Nol&s FIx8d assets InvÈstmÈnts Investment property 19.213,846 20,0(M),000 39.213.846 19,195.477 18.000.000 37.195.477 Curront 8888t8 Debtors Cash at bank and in hand 3,395 514,726 51B,121 472.501 Creditors.. amounts falling due wlhin one year 146,4251 159,0801 Net current 8$sets 471.696 413,421 Net ass8ts 39,685,542 37.608.898 RÈprÈsented by: Capi181 fund 39,685,542 39.685,542 37.608.898 37.608.898 Approved by the Iruslees and signed on their behalf by.. Margaret Marie Elizabeth Felicia Hood Trustee Approved on.. 0310212025 Sir Harold Hood Charitable Trusl 11
statement of cash flows Year ended 5 April 2024 2024 2023 Notes Cash flow5 from operating activitie5= Net cash used in operating activities A 1870,0651 1835,2591 Cash flows from investlng actlvltles: Purchase of investments Proceeds from sale of investments D8creas8 in investrnent porttolio cash Investment income Net cash provided by investing activities 11,044,704) 11,132,239) 1,154,992 762,217 130,4261 476,764 832,428 737,975 911,657 844,717 Change In cash and cash equlvalents In the year 42,225 9,458 Cash and cash equivalents at 6 April 2023 472,501 463,043 Cash and Cash •qulvalènts at S Aprll 2024 S14,726 472,501 Notas to thg ststamgnt of ¢a$h flows A Reconciliation of net movement in funds to net cash used in operating activities 2024 2023 Net incomellexpenditurel Adju5tmenis for.. (Decreasellincrease in creditors Increase In debtors Investrnent income (Gainslllosses on investments Unreali5ed gain on inve5trnent propety Net cash used in operating activiti85 2.076,644 11,517,850) 112,6551 12,0001 1833,8231 1737,9751 198,2311 1,397,778 12.000,0001 1870,0651 1835,2591 22.788 B Analysis of cash and cash equivalents 2024 2023 Cash at bank and in hand Total cash and cash equivalents 514,726 514,726 472,501 472,501 Sir Harold Hood Charitable Trust 12
Principal accounting policies Year ended 5 April 2024 The principal accounting policies adopted, judgements and key sources of estimation uncertainly in the preparation of the financial slalements are laid out below. Basis of accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Sir Harold Hood Charitable Trust meets lo definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy notes. The financial statements are presented in sterling and are rounded to the nearest pound. Going Concern The Trustees consider there are no material uncertainties about the Charity's ability to continue as a going concem. The review of our financial position, reserves level and future plans gives Twstees confidence the charity remains a going concern for the foreseeable future. Income Investment income and other sundry income is accounted for on a receivable basis. Expenditure Expenditure is recognised on an accruals basis. Investment Management Costs comprise the investment managers, fees together with property expenses for the property held. Goveman¢e costs comprise those of running the charity, namely audit and accountancy fees and bank charges. Investments Investments are stated at their middle market values ruling al the balance sheet dale. 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. Investment properties Investment properties are included in the balance sheet at their eslimaled market Value at the balance sheet date. The valuation of investment properties is performed annually by the Trustees, with professional valuations obtained al least every five years. As these assets are recorded at market Value no charge is made for depreciation in the accounts. Sir Harold Hood Charitable Trust 13
Principal accounting policies Year ended 5 April 2024 Investment properties Iconlinuedl Realised and unrealised gains and losses on investment properties are included within the ststemenl of Financial Activities in the year in which they arise. Credltors and provlslons 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 lo a third party and the amount due lo sellle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their setuement amount after allowing for any trade discounts due. Cash and $h gquivalonts Cash and cash equivalents includes cash and short term highly liquid investments with short term maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Estimates and judgements Eslimales and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the cir¢umstances. Although these eslimales are based on the Trustees. best knowledge of the amount, events or actions, adual results ultimately differ from these estimates. The trustees recognise that the value of the investment property is based on estimates however do not consider there to be any other estimates and judgements. Capital Fund The Capital Fund represents those assets sellled into trust, together with any movements in their values. The C8pII81 Fund is designated by the Trustees for internal purposes only and is not subject to any restrictions regarding distribution. Grants and donations Grants to the making of which the Trustees have committed themselves are charged in the ststemenl of Financial Activities in the year in which the commitment is made and are carried forward under eredilors until paid. Financial instrumgnts The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured al amortised cost. Sir Harold Hood Charitable Trust 14
Notes to the financial statements 5 April 2024 1 Investment Income 2024 2023 UK dividends UK Unit Trust dividends UK Real Estate Inveslrnent Trust distributn$ UK fixed intBrest Overseas dividends Overseas fixed interest other investment income Bank Interest 380,705 93,465 19,200 64.172 187,637 40.554 41,052 7,038 833,823 421,077 87,565 19,650 32,772 125,831 41,220 7.835 2,025 737,975 2 Raising funds 2024 2023 Investment management fee Property costs.. Council Tax 79.229 80,445 1,824 5,115 552 10.138 330 3.110 100.298 1,584 8,174 503 10.214 365 1,440 102,725 Security Insurance . Sundry Repairs 3 Analysis of charitable expenditure 2024 2023 Grants to institutions by category.. Single Grants Aid Churches Education Homeless Hospilals Missionary Nursing Prisoners Retreat Centre Schools Ytsuth Special grants Adjustments in year Governance costs (note 41 119.600 112,750 2,000 263,000 95.000 27,000 5.000 28,000 12,000 45,000 50,000 8,000 58,000 45,000 118,3851 22.957 755,322 249.000 76.000 29,000 32.000 12.000 50,000 55.000 7,000 60.000 45.000 19,871 754.471 Sir Harold Hood Charitable Trust 15
Notes to the financial statements 5 April 2024 3 Analysls of charltable expendlture Iconlinuedl 2024 2023 Nam85 of institutions and amounts paid.. Across, Slansled Ace ol Clubs, Clapham African Mission. based in London SE1 Aid to the Church in Need UK- Cameroon Aid to the Church in Need UK- Guatemala Aid to the Church in Need UK- Italy ft)r Ukrainian Catholic Church Aid to the Church in Ne8d UK- Syria Sharing Br88d Anawim, Birmingham Blackfriars Dominican Priory, C8rnbridg8 Borderfands, Bristol Brentwood Catholic childrn,$ sety Cardinal Hume Centre Catholic Bishops, Conlerence,'Parfiamentary & Public Policy Internships Catholic Children's Society, Plymouth Catholic Children's Society, Westrninster Catholic Union 2,000 15,000 2.000 12,000 2.000 4,000 5,000 3,000 3,000 1,000 4,000 7,000 3,000 6,000 2,000 13.000 6,000 3.000 14.000 2,000 1,000 8.000 8,000 1,000 CCS Adoption Iclifton Children's Society) Bristol CHAS, Bristol Church in Pian de Pi8ca, Italy Church of our Lady Queen of Peace, Richmond Church of St Augustine ol Canterbury, Leeds Clergy Support Fund, Archdiocese of Southwark Craig Lodge Trust Depaul UK Daughters of Charity Services, London SW1 Diocese ofAberdeen Diocese of Argyll & The Is1es- St Mary & Finnan Diocese of Brentwood, ex Anglican rn8rried priests Diocese of Hexham & Newcasue, St Bede's, Jarrow Diocese of Leeds.. Mark 10 Mission Diocese of Leeds Music Diocese of Leeds St Cuthbert's Church, Biadft>rd Diocese of Leeds St Edwards's Church. Clifford Diocese of Leeds Holy Rosary Catholic Church, Leeds Diocese of Notbngham Diocese of Salford, St Mary's Church Manchester Divine Renovation, London Downside Abbey Downside School Carried forward 3.000 4,000 25,000 10.000 15.000 3.000 15,000 55.000 15.000 50,000 2.000 4,000 4,000 2,000 12,000 10,000 4,000 1.000 1,000 1,000 1.000 2.000 1,000 1.000 1,000 28.000 2,000 28.000 1,000 60,000 60,000 40.000 338,000 250.000 Sir Harold Hood Charitable Trust 16
Notes to the financial statements 5 April 2024 3 Analysls of charltable expendlture Iconlinuedl 2024 2023 Names ol institutions and amounts paid.. Brought forward Downside Fisheryouth Club Duchess of Leed5 Foundation Embrace the Middle East Fellowship and Aid to th8 Christians of th8 East Franciscan Missionary Sisters of Africa. for Youth 1Ve, Zimbabwe Friends of St Michael's Primary School, Uganda - Bath Friends of the Holy Land Growing Old Gracefully, DI0Se of Leeds HGPT Hos8nn8 House and Children's Pilgrimage Trust Handmaids of Mary, Clapham Hospice, Hospital of St John & St Elizab8th Jesuit Missions, London N2 Kenelrn Youth Trust, Alton L'Arche UK Leeds Cathedral Little Friends Cenlre, Botswana ISVPI Little Sisters of the Poor, Leeds Londani Catholic Parish (Friends of Kipkelion, Kenya- UK Charity) Longford Trust Loyola Jesuit Secondary School, M818wi- Jesuit Missions Marian Brothers, Uganda Marriage Care, Nottingham Maryknoll Sisters New York State for Emusoi Centre, Arusha, Tanzania Mawale Institute, Birmingham Monte San Marino parish Missionary Sisters of the Blessed Virgin Mary, Uganda Nehemiah Project, stre8th8m, London Noah Enterprises- Winter Shelter, Luton Our Lady and St John Church, Goring-on-Th8mes Our Lady's Church, NW8 Our Lady of Lourdes ChUh, Ashby-de-18-2w Oratory Schcy)l Reading Parish of Santa Mari8 in Piazza, Sarnano Italy PACT (Prison Advice & Care Trust) Plymouth Cathedral, r8pair5 Providence Row, Tower Hamlets East London R8demptorists, Zimbabw8- Scouand Right to Life- Pro-Life Research Unit. London Royal Navy RC Chaplaincy Trust, Portsmouth Cairied fotward 250,000 30,000 30.000 s,000 338,000 30.000 30,000 2,000 2.000 2,000 2,000 3,000 5,000 1,000 10,000 12,000 5,000 3,000 4,000 12,000 12,000 2,000 1,000 4,000 5,000 5,000 750 2,000 3,000 2,000 2,600 3,000 1,000 5,000 5,000 2,000 so,000 4,000 4,000 2,000 3,000 1,000 3,000 7,000 40,000 so,000 2,000 8,000 7,000 4,000 5,000 3,000 3,000 3,000 3,000 7,000 25,000 45.000 6,000 7,000 5.000 17,000 582,750 17,000 572.600 Sir Harold Hood Charitable Trust 17
Notes to the financial statements 5 April 2024 3 Analysls of charltable expendlture Iconlinuedl 2024 2023 Names of institub.ons and amounts paid.. Brought forward Sacred Heart Church, Boumemouth Sacred Heart Church. Frinton-on-sea Sacred Heart Church, Holloway, London San Jose. Chile- Retreat Centre San LonzO, Chile- School Shrine of San Liberato, Italy St Aldhelm's RC Church, Malmesbury St Andrew's Hospice St David's Marist Foundation Inanda, South Aftica St Elizabeth's, Much Hadham St Joseph's Church. Newbury St Joseph's Home for Chronically111 Children, South Africa St Joseph's Hospice, Hackney St Joseph's Pastoral Centre, Hendon St M8ry's College, Crosby St Richards Reynolds Catholic College st Vincent's de Paul Furniture Project, Sheffidd St Vincent's de Paul Society, Leeds st Vincent's Family Project, London SW1 St Wilfred's Cenlre, Sheffield strawb8rry Hill Overs88s & Community Concem Stonyhurst College, Lancashire Ushaw Historic House, Chapels and Gardens, Durt)am Verona Fathers. Ethiopia Wardour Chapel, Wiltshire Wgstrninster Cathedral Wintershall Education, Surrey Your Place Youth 20C(I Return of Grant- 2021 Parish of Sants Maria in Piazz8, Sarnano Italy GovernanTr costs Inote 41 572,600 2,000 1,000 7,000 4,000 8,000 25,000 2,000 2,000 4,000 1.000 3,000 2.000 2,000 18.000 582.750 2.000 7,000 4.000 8,000 25,000 4,000 2,000 2,000 2.000 18,000 1.000 45,000 2,000 4,000 2,000 25,000 1,000 5,000 3.000 1,000 2,000 3,000 4,000 20,000 2,000 25.000 2,000 1.000 10,000 10,000 118,3851 22.957 755.322 19,871 754,471 4 Governance costs 2024 2023 Accountancy fees statLJtory audit fees Sundry expenses 3,661 15.600 610 19.871 7,890 14,460 607 22,957 Sir Harold Hood Charitable Trust 18
Notes to the financial statements 5 April 2024 5 Investments 2024 2023 Shar•s and S•euriti•s Fixed interest.. United Kingdijm . Overseas Equities.. United Kingdom . Overseas . At8matlV8S . Cash held as part of the portfdio 1,215,033 302.545 941,460 298,811 8,848.330 9,580,597 6,912.636 6,160,296 1,877.870 2,187,307 57,432 27,006 19,213.846 19.195.477 2024 2023 Market value as at 6 April 2023 Add.. Acquisitions at Gostltran5fer value Less.. Disposals at market value Less.. net gainlllossl on investments Increase in investment portfolio cash Market value at 5April 2024 19,195,477 20,699,997 1,044.704 1,132,239 11,154,992) 1762.2171 98.231 11,397,778) 30,426 1476.7641 19,213,846 19,195,477 2024 2023 Investment property 31 Avenue Road, NW8- market value as al 5 April 2023 Unrealised gain on investment property 31 Avenue Road, NW8- market value as at 6 April 2024 18,000,01)0 18,000.000 2,000.000 20,000,OIXI 18,000,000 On 17 March 2009, voluntary income from the Estate of Sir Harold Joseph Hood. deceased, in the form of his main residence, was sellled on the Trust. This property was valued al £10,000,000 on the dale of transfer. Investment properties are included al their eslimaled open market valuation at the balance sheet date. The valuation of investment property is perfomied by the Trustees annually, based on discussions with local estate agents. Based on these discussions, the Trustees have valued the property as at 5 April 2024 at £20,000,000. 6 Debtors 2024 2023 Accrued income Prepayments 1,395 2,000 3,395 Sir Harold Hood Charitable Trust 19
Notes to the financial statements 5 April 2024 7 Creditors- amounts falling due within one year 2024 2023 Accruals Investment management lees Property utilities Grants 19,200 20,225 21,390 20.225 1,465 16.000 59,080 7,000 46.425 8 Rglatgd party transactions No Trustees have received any remuneration or expenses during the year lo 5 April 2024 12023.. Nil). During the year. the Trust made a grant of £60,000 to Downside Abbey12023 - £100,000). One of the trustees, Dom James Hood, is also a Trustee of Downside Abbey. There were no other related paty transactions in the year12023- None). Sir Harold Hood Charitable Trust 20
Notes to the financial statements 5 April 2024 9 Analysls of Net Assets Between Funds Unrestrieted funds Income fund Capital funds Total 2024 Fund balances at 5 Apr512024 are represented by.. Listed Investments Propety Current Assets Curr8nt Li8biliti8S Total nèt assets 19,212,434 20,000,000 518,129 146,4251 39,684,138 19,212,434 20,000,000 518,129 146,4251 39,684,138 UnreslTh¢ted funds Income fund Capilal funds Total 2023 Funcl balances al 5 April 2023 are pSente[l by.. Listed lThv&slm8nts Pn)perty CurrentAssets CUrn1 Liabilities Totalnel assets 19,195,477 ts,000,ooo 413,421 79,195,477 tS,OQO,OQO 472,5Q1 (59,080) 37.608.898 59,08Q (59,080) 37.6Q8.898 Sir Harold Hood Charitable Trust 21