Charity registration number 225257
HULL CHARTERHOUSE TRUSTEES
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

HULL CHARTERHOUSE TRUSTEES
LEGAL AND ADMINISTRATIVE INFORMATION
Tru5tses
Mrs S E Whiltaker MBE
Hon. Aldeirnan Mrs A Stanley
Hon. Alderman J L Fareham
Revd J Hargreave
CoLJncillor C Randall
Mr P Mann
Mr I Shepherd
Councillor T Neal
Councilloi J Connor
(Appointed 6 June 20231
(Appointed 19 May 20231
(Appointed 19 May 20241
Charity number
225257
Auditor
Srnailes Goldie
Regent's Court
Princess Street
Hull
HU2 8BA
Andrew Jackson
15A Marina Court
Castle Street
Hull
HU1 1TJ
Solicitors

HULL CHARTERHOUSE TRUSTEES
CONTENTS
Page
Trustees, report
Statement of Iruslees, responsibilities
Independent auditor's report
Slalemenl of financial activities
Balance sheet
10
Notes to the financial staiements

HULL CHARTERHOUSE TRUSTEES
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their annual report and financial statements for the year ended 31 Decembei 2023
The accounls have been prepared in accardance with the accounting policies sel oul in nole 1 to the accounts and
comply with the charity's Iiusl deed dated 7th December 2015. the Charities Act 2011 and the Charity IAccounts
and Reports) RegulatlOn5 2008.
Objectives and activities
The charity's obiecis 3re to provide Almshouses to 'poor persons of good character ivho are not les5 than sixly
years of age The policies adopted in furtherznce of these objects are sel down in the scheme deed as revised and
3pproved by the Board on 7th December 2015 and there has been no change In these during the yeai.
The aim of the charity is lo continue lo provide 'Alms' to the residents of the City as requested by the benefactor
Michael de13 Pole In 1384.
The Iruslee5 have pa1d due iegard lo guidance issued by the Charity Commission in decidin9 what activities the
chsrily should undertake.
Residents have the Ljse of various communal facilities and landscaped 9ardens. As the Charterhouse is a ieligiou5
loundalion, the residents are expected to attend services In the ¢hapel. These are perfoitned by the Master who
musl be 'a cleigyman of the Church of Englancl and over thirty year5 01 age" The Master Is iesponsible for the day
to day adminislralion ol the Charterhou5e and report5 to the quarterly meetings of the Irustees. A continual support
service Is provided lor the residents by Ihe Master, Warden and staff some of whom live on the premises
Olher charity adminislralion Gonlinues lo be out-s0ur￿d lo local professional practices.
The Charterhouse continues to provide and maintain accommodation for those individuals who qualify undèr the
Criteria con131ned within the scheme constitution.
During the year Master Greenwell relired from his post on 30 Seplernber 2023 and an interregnum followed during
which the process ol seeking the next M3Stei commenced.
Follo%vin9 3 well sub5ciibed Interview process the Trustees were delighted to appoint Rév Gloria Naylor lo becorne
the 40th Master ol the Charterhouse which she accepted and will take up her posl eaily in 2024.

HULL CHARTERHOUSE TRUSTEES
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and pÈrtomance
Mrs S E INhitlaker MBE wa5 ie-elected as Chair for the year 3nd served lo Chair all meetings held in the year.
The Charterhouse has continued to provide a¢cofflmodation ol good quality for 115 residents, all of whom Bre over
sixty years of age. of good characiéi 3nd ill need of such accommodation. There has beeii an average ol forty
residents throughout the year and no long term vacancies.. the Iruslees have followed their planned maintenance
progiamme so Ihal Individual properties are maintained lo the agreed standard.
There was a good spirit In Ihe House during Ihe year The Chapel provides seNices for the residents and staff.
Residents have regularly used the Hall and when weather has perinilted the garden. The Trustees hzve rnade their
usual giant to residents social activities
The Chapel and garden were open lo the public during National Heritage Weekend. Parties of visitors have also
been welcorned al other times. the bLJilding$ and garden ol the CharterhoLJse 3re among Hull's linesl and altracl
wide and grov¢ing Inteiesl.
The film Fawley Judge & Easton continues lo act as Cleik to the Tiustees In accordan￿ with SeGlion 21121 ol the
Charity Cominission's scheme dated 7th December 2015. They continue lo acl as Agent lo the Trustees, In
accoidance with Section 21111 of the Scheme 111 respect ol all adminislralioii aiid fiiiaiice matters.
The Trustees rnel in lull sessitsn loui Illnes In the course ol the year and at Other times as required. The Master ol
the Gharterhouse attended all their meetings All residents had also the opportunity lo meet Trustees Informally to
discuss matters ol the iesidenls, own choice. The outcorne of that meeting sugoesled a high level of satisfaction
wilh life In this community.
The Trustees count il a privilege to have coDlinued lor another year lo ensure that the Charterhouse provided the
best 3ccommodation it can afford lor those who nowaday5 correspond with those persons 'ol good character poor
and old, for whose benefit the Founcler enL1owed It, six hundred and forty years ago, with the property which they
administer today.
The continued the ongoing planned maintenance pro9ramme which had been approved by the Board. Flat
refurbishment5 compii5ed the largest proportion ol these works
Financial revièw
The unrestricted and designalecl funds accounts ended the year with an operational deficit of £79,276 12022
£92,214), prior to revaluation of investments This was an improvemenl on the prior year and emphasises Ihe
continuing repair expenditure and rnainlenanoe of high level staffing on the Almshouse aiTrd also the reduction on
investment Incoime due to changing financial markets. Given this the truslees are pleased Ihal the retnaining Inootme
and expenditure were within budget expect3tions.
The iiustees continued to have the fixed asset Investments managecl by Titan Asset Mana9ewenl Ltd.
The annual review of the reserve slruclure was cornp1eled and together with the arinual Investmenl review Il
ensures a reserve poli¢y slructiiie that meets the requirements of the Trust in future years.
Reserves are held for the following reasons", to provide In¢orne to contribute to the Trust's annual running costs,. arid
lo provide the lund5 to m31nt31n and modernise the ac¢omrnodalion to a high standard.
The Trustees nieet the cost of n)aintaining Its Almsfvouse property out ol the Income of the Charity but Is reqU￿red to
maintain ar) Extraordinary Repair Fund which Is designed lo Ineet such exlraordillary repairs as they arise. This
fund was lully expended In the year.
The Iruslees have as5e5sed the major risks lo which the chaiily Is exposed, and are satisfied th81 systems are In
place lo miligale exposure lo the major risks. Specific311y all properly Is fully insured, prOfèss￿Onal advice is sought
on all property, Investment and financial mallers, regular safely checks ale carried out In line with chaiity policies.

HULL CHARTERHOUSE TRUSTEES
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Structure, governance and management
The Charterhouse Is a registered charity INr 2252571 and is governed In accorrjance with the Schemes established
by the Charity Commissioners on 5th November 1901, 2nd April 1937. 2nd March 1962 and the 7th December
2015. The charity Is not Incorpoialed.
The trustees who served during the year and up lo the date of signature ol the financial slatetnenls were..
Mis S E Whittaker MBE
Hon AlJerman Mrs A Stanley
Hon. Alderman J L F2reham
Revd J Haigreave
Councilloi R Pantelakis
Councillor C Randall
FrP Lamb
Hon. Alderman S Chaytor
Mi P Manii
Mi I Shepher(I
Councillor T Neal
CoLJncillor J Connor
IResigned 19 May 20231
(Resigned 6 March 20231
(Resigned 19 May 20231
(Appointed 6 June 20231
(Appointed 19 May 20231
IAppointed 19 May 20241
The latter scheme provided for a body ol nine trustees, six are nominative trustees. five are appointed by Hull City
Council and one by the Archdeacoll of the Easl Riding and hold oftice foi peiiod5 of four years. Whilst the iemaining
three Irustees are co-oplative and hold office lor five years. As vacancies arise efforls are made lo recruit suitable
Individuals who IhroLJgh residence. occupation oi employment or olhetwise have special knowledge of the berielil
aiea
The Chairman Is Mrs S E Whittaker MBE and Ihe Deputy Chairfflan Is Councillor Mrs C Randall both were
appointed al the March meeting. The 8oard met four limes during the year and al other limes lo appoint
beneficiaries. The Ma51er of the Charterhou5e is appointed by the Board In accordance with the Trust Deed 3nd is
responsible for the daily management ol the HoLJse aided by Ihe Warden and Relief Wardens and Estate
Supervisor.
Supplier payment policy
The company's curient policy concerning the payment ol trade creditars is lo follow the CBI'S Prompt Payers Code
(copies are available from Ihe CBI, Centre P<>int. 103 New Oxloid Street. London WC1 A 1 DUI.
Th8 company's current policy concerning the payment of Iiade creditors is lo..
settle the lertns ol payrnenl with suppliers when agreeing the terms ol e3ch transaction".
ensure that suppliers are made aware ol the terms of payrnent by Inclusion ol Ihe relevanl terms in contracts,
aiid
pay In accordance with the company's conliaclual and other legal obligations.
Ti3de credilois of the oornpany at the year end were equivalent lo 14 day's purchase5, based on the average daily
amount invoiced by suppliers during the ye3r.

HULL CHARTERHOUSE TRUSTEES
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The l uslees,
eport was approved by the Board ol Tru51ees.
Mr5 S E Whillaker
BE
Chair of the Trustee8
15 Oclobei 2024

HULL CHARTERHOUSE TRUSTEES
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The Iruslees are responsible lor preparing the Trustees, Report and the financial statements In accordance with
applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting
Pr3clicel.
The law applicable lo charities in Englalld arid Wale5 requires the Iiuslees lo prepare financial st31em8nls loi each
fir)an¢i31 year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and
application of resources of Ihe charity lor that year.
In preparing these financial statements. the truslees are required to
select 5Ultable accounting policies and then apply them con51slently-,
observe the melhods and principles In the Charities SORP.
make iudgernents and esliinales thal are reasonable and prudent",
stale whether applicable accounting staiidards have been followod. subject lo any material departures disclosed
and explained In the financial statements.. and
prcpare the fir)ancial slatemei)Is on the going concern basis unless it is In3ppropr131e to presume that the charity
will continue In aperalion.
The Iruslees sre iesponsitile lor keeping sufficient accounting records thal disclose with reasonable accuracy 81 any
tirne the financial posiliori of the charity and enable Ihem to ensure Ihal the financial s121emenls cornply with Ihe
Charities Act 2011. the Charily IAccounls and Reports) RegLilations 2008 and the provisions of the trust deed. They
are also responsible lor $21eguarding the assets ol ihe charity and hence for taking reasonable steps for the
prever)tion and detection ol fraud aiid other irregularities.

HULL CHARTERHOUSE TRUSTEES
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF HULL CHARTERHOUSE TRUSTEES
Opinlon
We have auditèd the financial statements ol Hull Charterhou5e Truslees Ithe charily'l for the year ended 31
Decermber 2023 which comprise the statement of financiBI aclivilies, the balance sheet and the notes lo the financial
slalemenls, including a summary of significanl acLuunling policies. The financial reporting framework that has been
appliEd In their prepar3lion Is applicable law and United Kingdom Accounting Standards. including Financial
Reportirig Standgrd 102 The Firiaiicial Roporting Standard applicable in the UK and Repiiblic of Ireland (United
Kingdom Generally Accepted Accounting Piaclicel.
In our opinion, the financial slalemenls..
give a true and Isir view of the stale ol the charily's affairs as at 31 December 2023 and ol ils incornino
resources 3nd application of resources. lor the year then ended",
have been pioperly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿.
and
have been prepared In accoidance with Ihe requirements ol the Charities Act 2011.
Basis for opinion
We conducted our audit In accofdance with Intérnational Slandaid5 on Auditin9 IUKI IISAS IUKII and applicable
law Oui responsibililies under those standards are furthei described In the Auditoffs rosponsibilitiès for the aijclit of
tlie fiiiaiicial slalen?erits sèctiori ol our report We are independenl ol the charity in accordafi￿ with the ethical
iequiiements that are relevant to our audit of the lin2ncial statements In the UK, Inclu(Jing the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities In aecordance with these requiremellls. We believe
that the audit evidence we have obtained is SLsfficienl and appropriale lo provide a basis lor our opinion.
Conclusions ￿lating to going concern
In auditing the financial statements, we have concluded that the trustees, use ol the going ¢on¢ein basis of
accounting in the preparation ol the financial 5t3lements Is appropriate.
Based on the work we have performed. we have not identified any material un￿rtaInlieS relating lo events or
conditions that, Individually or colleelively. may cast significant doubl on the charity s sbi5ily lo Gonlinue as a going
CDncern for a period ol al least twelve month5 from when the financial statements are authorised lor Issue.
OLJr responsibilities and the iesponsibililie5 01 Ihe trustees with respect lo going concern are described in the
relevant sections ol this report.
Other information
The othei Inlorwalion cornprises the information Included in the annual report other than the financial slalemen15
and our auditor's report Ihèreon. The Iiuslees ale responsible for the other Information contained within the annual
report. Our opinion on the financial slatemenls does not Gover the other Information 2nd we do not express any form
of a55uiaThce conclusion Ihereon. Our responsibility Is lo read the other Inloifflalion and, in doing so. consider
whether thè other Information is materially Inconsistent with the finallcial statements or our knowledge obtained In
the course of the audil, or othenvise appears to be maleiially rnisslaled. 11 we identify SLJch material Inconsistencies
oi apparent material tnisslatetllents, we are required to determine whether this gives rise to a material misstalerneni
In Ihe fillancial slateffienls themselves 11, based on the work we h3ve pertormed, we conclude that there Is a
material misslalemenl of this other Inform31ion. we are required to report that facl.
We have nothing lo report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respecl ol the following marters In ielation lo which the Charities IAccounts and
Reportsl Regulations 2008 require us to report lo you il, in our opinion
the InfortM31ioN given In the financial slalements Is inconsistent In any tnalerial respect with the truslee5'
report., or
sufticient accounting records have not been kept. oi
the financial slalemenls are not in agreement with the a¢¢ounting records,. or
we have not received all the information and explanations we require lor our audit.

HULL CHARTERHOUSE TRUSTEES
INDEPENDENT AUDITOR'S REPORT ICONTINUEDI
TO THE TRUSTEES OF HULL CHARTERHOUSE TRUSTEES
Responsibilities of trustees
As explained more fully in the stalemenl ol Iru5tees' iesponsibilities. ltte Iiustees are responsible for the preparation
of the financial statements and lor being satisfied that they give a true and fair view. and foi such inleinal Control as
Ihe Iiuslee5 determine 15 necessary lo enable the preparation of financial slalefflenls that are tree from material
missiaiemeni. whether due lo fraud or error. In preparing the fiiiancial slalements, the Iruslees are responsible lor
assessing the charity's ability to continue as a going concern. disclosing, as applicable, rnatters relaled to going
concern and using the going concern basis of accounting unles5 the trustees either Intend to eease operations. or
have no realistic allernalive bLlt 10 do so
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of Ihe Charities Act 2011 and report in accordance with the
Act and relevant regulation5 made or having effect Ihereunder.
Our objectives are to obtaiii reasoiiable assuiance about whelher Ihe firiancial statements as a whole are flee from
mal•ri4l misstatèmènt. whather due to fraud Of error and to 186ue an guditor's feport th81 Includes our opinion.
Reasonable assurance is a high level DI assuranee but Is not a guarantee that an audit conducted In accoidance
with ISAS IUKI will always detect a rnaleri81 misstatement when it ex1515. Miss131emenls can arise from fr3ud or
error and are conssdered maler131 If, Individu311y or in the aggregate. they oould reasonably be expected lo influence
the economic dec1510ns of users taken on the basis of these financial statements.
The exlenl lo which our procedures are capable ol détecting Irregularities, 11)cluding fraud. Is detailed below.
Qur approach lo Ider)tilying and assessing the Iisks ol tllalerial misslalement in respect of iriegularilies. including
fraud and non-compliance with laws and regulalioiis, was focused 01) specific law5 and regulalior)s which we
consiijered may have a diiecl rnaterial effect on the financial slalemenls or the operations of the charity, Including
the Chaiilies Act 2011. taxation legislation, data protection, anli-biibery, employment. environmental 3nd he3I1h and
safety legislation. An understanding ol these laws and regulations and the exlenl ol compliance was obtained
through discussion wilh management 3nd Inspecting legal and regulatory correspondence.
We assessed the susceptibility of the charity's financial Statements lo material misstatement, Including obtaining a
understanding ol how ffaud might occtsr, by making enouiries ol rnanagernent and considering the Internal controls
In place lo mitigate risks of fraud and non-cotnpliance with laws and regulations.
To address the Iisk of fraud through manageinent bias and override ol controls. we".
perforTned aiialylical procedures to Identify aiiy unusual or unexpected relatioTiships,
tested iouinal entries lo Identify unusual Iransa¢lions'.
assessed whether judgements and assumptions made in determining the accounting estimates were
indicative of potential bias-. and
Investigated the rationale behind significant or unusual trans¥clions
In response lo the risk of irregularities and non-compliance with law5 and regulalioms. we designed procedures
which Included, bul were not Iiinited to.
agreeing financial slalemenl disclosures lo underlying supporting documentation-.
enquiring of nianagement as lo actual and potential Iiligalion and claims-, and
confirming membership with relevant re9ulators.
Due to the Inherent limitations of an audit. there is a risk that we will not detect all iiregularilies, iiicluding those
leading to a material misslalement In the financ131 statements or non-compliance ivith regulalion. This risk Increases
the more that compliance wilh a law or regulalion is removed from the events and transactions retlecled in the
rinanc5al statements. as we will be less likely to become aware of Instances ol lion-cornpllan￿. Audiliiig staiidards
also Iimil Ihe audit procedLJres required to identify non-compliance wilh laws and regulations to enquiry of the
trustees and other m3nageiNenl and the Inspection ol regulatory and legal correspondencè. Il any.
The risk is also greater regardiiig irregL51aiilies occurrir)g due lo fraud rather Ihsn error, as fraud Involves Inlenlional
concealment. forgery. collusion. omission, or misrepresenlalion.
A further description of our re5POn51bililies lor Ihe audit ol the financial statements is located on the Financial
Reporting Council's website 31 ww Irc.org.uklaudilors ie5ponsibililies. This de5cripliori forms part of our Rèport of
the Independeiil Auditors.

HULL CHARTERHOUSE TRUSTEES
INDEPENDENT AUDITOR'S REPORT ICONTINUEDI
TO THE TRUSTEES OF HULL CHARTERHOUSE TRUSTEES
Use of our report
This report is made solely lo the charity's trustees, as a body, in accordance with p3rt 4 of the Charities (Accounts
and Report51 Regulations 2008. Our audit work has been undertaken so Ilat we mighl stale lo the charity 5 Iruslees
those mallers we are reouiied Io stale to them In an auditor's report arid foi no other purpose. To the fullest exteiit
permilted by law. we do not accept or assume responsibilily lo anyone Dlher than the charily and the ch8rily'5
tiustees as a body. foi our audit
rk for this report, or for the opinions we have formed.
William Cowèll, ACA (Senior Statutory Audiiorl
for and on behalf of Smalles Goldie
Chartered Accountants
ststutory Auditor
Regent's Court
Princess Street
Hull
HU2 8BA
15 October 2024
Srnailes Goldie Is eligible lor appointnienl as auditor of the charity by virtue ol ils eligibility for appoinltment as
auditor of a company Ljndei seelion 1212 of the Companies Act 2006

HULL CHARTERHOUSE TRUSTEES
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted Re8tri¢ted
funds
funds
2023
2023
Totsl Unre$tri¢ted Restricted
funds
funds
2022
2022
Total
2023
2022
Notès
Income
nd ndowments from..
Donations arid legacies
Charitable activities
Investments
Olhei income
1.000
1.000
188.642
140.831
2.484
188.642
140.737
2.484
174,965
147.095
5,272
174,965
147,242
5,272
94
147
Total income
331,863
1,094
332,957
327,332
147
327,479
Ex
enditure on:
Raising funds
47,329
50
47.379
38,789
52
38,841
Charitabl8 activities
363.810
363,810
380,757
380,757
Total expènditure
411,139
50
411.189
419,546
52
419598
Nel gain5 on
Investments
14
33,921
229
34.150
1182.0971
11,0201
1183,1171
Net loutgoingllin¢oming
resources before transfers
145,3551
1.273
144.0821
1274.3111
19251 1275,2361
Gross transfers between
fund5
95
1951
147
11471
Net loutgoingllSncoming
resources
145,2601
1,178
144,0821 1274.1641
11,0721 1275.2361
Other recognised gain5 and losses
Actuarial Ilossllgain on
defined benefit pension
schemes
2.000
2.000
Nèt movement in funds
145,2601
1,178
144,0821 1272,1641
11,0721 1273,2361
Fund balances al 1 January
2023
4.654.512
3.982
4.658,494
4,932,676
5.054
4,937,730
Fund balances at 31
December 2023
4,609,252
5.160
4.614,412
4,654,512
3.982
4,658,494
The statement of finanGiaS activities Includes all gains and losses recognised in the year.
The stalemenl ol financial activities includes all gains and 1055es recognised in thè year All income and expenditure
derive Iiom oontinuing activities.

HULL CHARTERHOUSE TRUSTEES
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notes
Fixed asgets
Tangible assets
Investment pioperties
Investments
1.843.537
675,000
2,127,094
1,875.843
675,000
2,198,152
18
4,645,631
4.748,995
Current assets
Debtors
Cash al bank and In hand
26,407
25,801
34,975
16 737
52,208
51,712
Creditors.. amounts falling due within
one year
21
170.2421
184,9241
118.0341
133,2121
Total assets less current liabilities
4.627.597
4,715,783
Creditors.. amounts fallln9 due after
more than one year
22
113.1851
157,2891
Net assets
4,614,412
4,858.494
Income funds
Restricted funds
24
5,160
3,982
Designaled liinds
Gener31 unreslr1cled funds
25
2.977,746
1.631,506
3,011.522
1.642.990
4.609.252
4,654,512
4.614.412
4,658.494
The accoun
ed by the Trustees on 15 Octobei 2024
loT'II,(
Mrs S E Whittaker MBE
Trustee
10

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Charity information
Hull Charieihouse Trustee5 15 3 registered charity nr 225257 with an arrended trust dèed dated 7th Decemb8r
2015
1.1 Accounting convèntion
The accounts have been prepared In accordance with the chaiity's tiust deed dated 7th December 2015, the
Charities Acl 2011 and "Accounting and Reporting by Charities Stslement of Recomrnended Practice
applicable lo charities preparing Iheii accouiits in accoidance with the Financial Reporting Standard
applicable in the UK and R&publi¢ of Ireland IFRS 1021 135 amended lor accounting periods commencing
from 1 January 20161. The ch3rily Is a Public Benefit Enlily as defined by FRS 102.
The ch3rily has taken advantage of the provisions In the SORP lor chaiities applying FRS 102 Update Bulletin
1 not to prepare a Stalem8nl of Cash Flows.
The financial slalemenls are prepared in sterling, whi¢h Is the functional currency ol the charity. Monetary
amounts in these financial statements are rounded lo the nearest £.
The financial statements have beeii prepared under the historical cost convenlion. Imadified to Include the
revalLJalion ol freehold properties and lo Include Investment properties and ceriain financial instrumen15 al fair
valuel. The principal aCCOLJnting policies adopted are sei out below
1.2 Going concern
Al the time ol approving the financial statements, the truslees have a reasonable expectation that the charity
as ad2quale resources to coiiliilue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis ol accounting in preparing Ihe financial slalemenls.
1.3 Charitable funds
Unrestricted funds are available for use al the discretion of the Irustees In furtheiance of their charitable
obieclives.
Restricted funds are subject io specif1c condilions by donors Dr grantois as to how they rnay be used. The
purposes and u585 of the restricted funds are sel out in the notes to Ihe financial sialemenls.
Endowment lund5 are subject to specilic condilioiis by donois that the capital musl be m3intain8d by the
chaiity.
1.4 Income
Income 15 reco9nised when the charity is legally entitled 10 il after any performance conditions have been met.
the amounts can be measured reliably, and Il Is piobable that income will be received.
Cash donations are recognised on feceipl. Olhei donalions are recognised once the charity has been notified
of the doiialion, unless performance conditioiis require deleri31 of Ihe atnour)l. Income lax recoverable in
ielalion lo donations received under Gift Aid or deeds of ¢ovenant Is recognised at the time of the donation
Legacies are recognised on receipt or otherwise If the charity has been notified ol an impending dislribulion.
the amount Is known, and re¢eipl is expected. 11 the amount Is not known. the legacy Is treated a5 a
contingent asset.

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Continued)
1.5 Expenditure
ExpendilLJre Is recognised once there is 3 legal or conslruclive obligation lo Iransfei economic bÉnefil lo a
third party. il is probable th312 transfer ol economic benefits will be required ill settlement, and the amount ol
the obligation can be rnea5ured reliably.
Expenditure is classified by activity. The costs of e3ch gctivily are made up of the total of direct costs and
shared costs, Including support costs Involved In undertaking each ac11v￿ly. Direct Costs 8llributable lo a single
actlV5ty are allocated direclly to that 3clivily. Shared costs which eonlribule lo mole than one activity and
support costs which are not attributable to a single activity are apportioned between Ih05e activities on a basis
consistent with the use ol resources. Central staff costs are allocated on the basis ol lime spent, and
depreciation chaige5 ale allocaled 01) the portion ol the asset's use.
Allocation of Resources Expended
Expenses associaled with the management of the charity's Investment and property porlfolios are
charged against the unre5tiicted and restricted funds as appropriate.
Expenses associated with the maintenance of the Almshouse property and Ihe pastoral welfare ol thè
almspersons are charged against the unreslricted fund as appmpriate.
Governance cost5 Cotmprise fees for audit and legal services.
Support Costs cotnprise the remainder ol all expenditure.
1.6 Tangible fixed assets
Tangible fixed assets are init1311y rne3sured al cost and subsequently tneasured al cost or valuation, net ol
depreciation and any impairment losses
Tangible fixed 3sse15 ale slated al cost less depreciation. In this ye3r the charity reported under FRS102 and
In respect of charity propety look the opportunity to reslale the charity pioperty 101 2019. The surplus was
charged lo Fixed Asset Rev31u3tion Reserve. Depreciation Is piovided al rates calculated lo write off the cost
less estimated residual value of each assel over Ils expected useful life, as follows.
Land and buildings
Plant and equiprnenl
2U/o on cost or valuation
1 on cost
The g31n or loss arising 011 the disposal of an assel Is determined as the differenoe behveen the sale proceeds
and the carrying value of the asset, and Is re¢ognised in the statement of financial activities.
1.7 Investment properties
Investment propcrty. which Is property held to earn rentals andlor lor capital appreci8lion. 15 Initially
iecognised at C05t, which Includes the purchase cost and any directly atlributable expenditure Subsequently
It Is me3SLJred al fair value ai the reportlllg end dale. The surplus 01 deficit on revaluation Is iecognised in
profit or loss.
1.8 Fixed asset investments
Fixed asset Investments are inilially measured at transaction price excluding Ir3nsa¢iion costs, and are
subsequently measured at fair value at each reporting date. Changes In fair value are recognised In net
Incomellexpendilurel lor the yeai. Transaclion costs are expensed 25 incurred.
1.9 Impairnient of fixed assets
Al each reporting end dale, the charity reviews the carrying amounts of its tangible a55els to determine
whether there Is any indication that Ihose Bssels have suffered an iinpairmenl IDSS If any such indication
exists, the recoverable amount of the asset Is eslitM3ted in order lo delefmine the extent of Ihe irnpairment
loss lil any).

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountiny pollcles
(Continuedl
1.10 Cash and cash equivalents
Cash and cash equivalenls InGlude cash In hand, daposi15 held al call with banks. othef short-leFln liquid
investments with original maturities ol Ihree month5 or less. and bank overdrafts. Bank overdiafts are shown
1.11 Finaneial instruments
The charity has elected la apply the provisions of Section 11 'Basic Financial Inslrumenls. and Seclion 12
'Othei Financial Inslrumenls Issues. ol FRS 102 10 all of ils financial instrument5.
Financial instruments are recognised In the charity's balance sheet when the chaiily be¢ornes party lo the
conlraclual provisions of the In51rumenl.
Fiiiancial assets and liabilities are offset, with the net amounts presented in the financial stalemenls. when
there Is a legally enforceable right lo sel off the reoognised amoLJnls and therè Is an Inlenlion to settle on a nel
basis 01 lo reali58 the asset and 5etlle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are Initially rneasured al
transaction piice Including transaction costs and are SLibsequenlly carried at amortised cost using the effective
Interest method unless the arrangement conslilutes a financing tran5aEtion. where the transaLlion 15
measured al the present value of ihe future ieceipts discounted at a market rate ol Interest. Financial assels
classified as receivable within one year are not atnort15ed.
Basic financial liabilitles
Basic financial liabilities, InclLJdiDg creditors and bank loans are Initially recogr)ised at Iian53Ction piice unless
the arrangement constitutes a financing transaction. where the debt Instrument Is measured al the present
value ol the future payments discounted at a rnarkel rale of Interest. Financi31 liabililies classified as payable
within one year are not amort15ed
Debt Instrumen15 are subsequently carried at 3mortlsed cost, using the effective interest rale method.
Trade creditors are obligations lo pay for goods or services Ihal have been acquired In the ordinary course ol
operations from suppliers. Amounts payable ale classilied as current liabilitie5 if payment is due within one
year or less If not. they are presented as non-¢iJrrenl liabilities. Trade creditors are recogni5ed Initially at
transaction price and SLJbsequenlly measured al amortised cost u51ng the effective interest meihod.
Derecognition of finan¢ial liabilities
Financial 113bililies are deiecognised when the charity's conlraclual obligaiions expire or ale discharged or
ancelled.
1.12 Employee benèfits
The cost of any unused holiday entitlernenl is recognised In the period In which the employee's Services arè
received.
Termination benefits 318 recognised irnmedialely as an expense when the charity Is dèrnonstrably committ8d
lo teiminale Ihe ewploymenl of an employee or lo piovide lerminalion benèfits.
13

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
(Continuedl
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The Charterhouse Hull participates in the Church of England Funded Pensions Scheme lor slipendiary clergy,
3 defined benefil pension scheme. This scheme is adminislered by the Church of England Pensions Board.
which holds the assets of the schemes separately from those Responsible Bodies.
Each participating Responsible Body in the scheme pays conlribulions at a common oonlributlDn rate applied
to pensionable stipends.
The scheine is considefed lo be a mulli-employer schenie as deseiibed In SeclioT1 28 of FRS 102. This means
il Is not pos&ibl8 to attribulo th• Schgrns's assets and liabi151ie$ to eaoh Fle8pon31ble Borjy, and th13 mean5
contributions are accounted for as il the Scheme were a defined contribution scheme
The pensions costs Charged lo the SOFA In the year are the conliibulions payable towgrds benefits and
expenses accrued In that year.
Critical accounting estimates and judgemènts
In the application of the chaiity's accounting policies, the Iruslees are required lo make Jud9ements, estirnales
and assumptions about the carrying atMouNI of assels and Iiabililie5 that are not ieadily appareiil from Other
sources. The estimates and associated assumptions ale based on historical experience and other factors that
are considered lo be relevant. Aclu31 results may differ Iiorn these esiimales
The estimates aiid undeilying assumptions are reviewed on an ongoing b3Si5. Revisions to 3ccouiiting
eslimales are recognised In the period In which Ihe estirnale 5s ievised whefe the revision affects only that
period, or In the period of the revision and future periods where the revision affects both current and lulure
periods.
Income from donations legacies
Restricted
funds
2023
Restrieied
funds
2022
Donations
1,000
Charitable activities
Maintenaticg
contrlbuiion
MaSntènan¢g
¢ontrlbution
2023
2022
Charitable Incorne - WMC
188,642
174,965
14

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Inve¥tment$
Unrestricted Réstricted
lunds
fund3
Total Unreslri¢led
funds
Restricted
funds
Total
2023
2023
2023
2022
2022
2022
Commercial rental
income
InvestmerTrl Income from
dividend5 arid interest
55.584
55,584
61,745
61.745
85.153
85.247
85,350
147
85.497
140,737
140.831
147,095
147
147,242
Other income
Unrestricted
funds
Total
2023
2022
Other Income
2,484
5,272
15

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Raising funds
Unrestrictèd Restrictod
funds
fund5
Total
To181
2023
2023
2023
2022
nvestment property costs
Olher trading aclivities
21.566
21,566
11,105
Investm
25 763
50
25,813
27,736
47.329
50
47.379
38.841
For Ihe year ended 31 December 2022
Investment property costs
Investmenl managernenl
11,105
27,684
11,105
27,736
52
38,789
52
38,841
Description of charltsble activitie$
Provision of supported accommodation lor thogÈ enlilled to benefit from the charity IrTr accordance with the
criteria set out in the trust deed and the maintenance ol the trust property for this purpose.
18

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
9 Charitsble activities
Supported
accommodation
Property
maintenance
Total
2023
Total
2022
2023
2023
Staff costs
Depreeialion and impairmeiit
W3ter
Council tax on voids
Insuiarice
Energy costs
Respon51ve maintenance
Planned maintenance
Garden maintenance
Serviced maintenance
Clealling costs
Professional fees
WMG wiitten off
164,810
164,810
32,306
6,961
5,180
13.482
18,803
24.319
26.427
9.620
5124
3,762
10,238
4,406
170,949
32,306
6,525
4,505
12,358
16,553
14,381
59,714
8,778
4306
3.662
13,056
IT131
32,306
6,961
5,180
13,482
18,803
24,319
26,427
9,620
5124
3.762
10.238
4,406
213.642
111,796
325.438
346.380
Share o15UPPOrt Costs (see note 121
Share ol goverfiance costs (see nole 121
33.512
4.860
33.512
4.860
29.369
5.008
252.014
111.796
363,810
380.757
10 Nèt movement in funds
2023
2022
The Iiel movement In funds Is slated 3fter chargingllcreditingl
Fees p3yable foi the audit of the charity's financial statèments
Depreciation ol owned tangible fixed assets
4860
32.308
5,008
32,306
11
Trustees
None of the Iruslees lor any persons connected with them) received any remuneration during the year.
17

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
12 Support costs
Support Governance
costs
costs
2023
2022 Basis of allocation
Clerks fees
Printing and stationery
Telephoiie
Subscriptions and
donations
Bank charges
Sundry expenses
Loan Interest
16,500
165
2,221
18,500
165
2,221
16.500
331
2.391
2,831
214
5,146
6,435
2.831
214
5,146
6,435
2.301
241
1.476
6.128
Audit fees
4.860
4,860
5.008 Governance
33,512
4.860
38.372
34,376
Analysed between
Charilable activities
33.512
4,860
38.372
34,376
Goveinance cos15 Includes payment5 lo the audilois of £4.86012022- £5.0081 lor
aiidit lees.
13 Employee5
Numbèr of amployees
The 8verage monthly nurnber employees cluring the year was 412022 . 41
2023
Number
2022
Number
Supported accomtnodalion
Pastoral
Employm8WIt costs
2023
2022
Wages and s8laries
Social security costs
Olhei pension costs
151.316
6.096
7,398
152.350
7.282
11,317
164,810
170,949
There were no employees whose annual remuneration was £60,000 or more.

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 Gains and los¥e¥ on investments
Unrestricted Restricted
funds
funds
2023
2023
Total Unrestricted Re$trietéd
lunds
funds
2022
2022
Total
2023
2022
Gainslllossesl arising on:
Revaluation ol
investments
Sale ol investment5
161.4051
95,326
1431
272
161.4481
95,598
1182.0971
11,0201 1183,1171
33,921
229
34,150
1182,0971
11,0201
1183.1171
1 S Taxatlon
The charity 15 exempt from taxation on ils activities because all Its Incorne 1s applied lor charitable puip05es.
16 Tangible fixed assets
Land and
bulldln9$
Plant and
oqulpmqnt
Total
Cost
At 1 January 2023
1,990,000
1 S,067 2 005,067
Al 31 Decembei 2023
1.990.000
15.067 2,005.067
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
123,200
30,800
6.024
1,506
129,224
32,306
Al 31 Decembei 2023
154,000
7.530
161,530
Carrylng amount
Al 31 December 2023
1,836.000
7.537
1,843.537
At 31 Decetnbei 2022
1,886.800
9.043
1,875.843
17 Investment propety
2023
Fair value
Al 1 January 2023 and 31 December 2023
675,000
Investment property comprises 7 Silver Street Hull, 62 aiid 63 Maikel Place Hull, 47 Hai)ley Road Hull and
139 Spring G31dens Anlaby. The laif value of the investment property has been arrived at on thè basi5 of a
valuation eariied out at 1 Oth Decernber 2019 by Elizabeth Haller FRICS ol Haller Evans Chartered Surveyors.
who are not connected with the charity and additions since that dale are valued 81 cost. The valuation was
made on ar) open Market value basis by reference to market evidence of transaction prices lor similar
properties. The tiuslees believe that th￿5 valuation rernains representative ol the fa11 value at 31 December
2023.
19

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
17 Investment property
(Continuedl
2023
2022
Freehold
675.000
675,000
20-

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Flxed asset investments
Listed
investmènts
Cash in
portfolio
Totsi
Cost or valuation
At 1 January 2023
AdditlOn5
Valuation changes
Nel Movement
2,183.783
199.325
34.150
1516.1431
14.369
2,198.152
199,325
34.150
1304.5331
211.610
At 31 December 2023
1.901.115
225,979
2,127,094
Carrying amount
Al 31 Decembei 2023
1,901,115
225,979
2,127,094
Al 31 December 2022
2,183,783
14.369
2,198.152
Fixed assal Invastments revalued
Where Investments are Included al revalued amounts. state the ba51s of the valLJalion 3nd the comparable
amounts on the hislorical cost basis. or the difference betw8en the book value and historical cost of each Item
In addition. Ivith the exception ol listed Investmen15. details are required of the years and amoun15 of the
v£lualioiis aiid iii the case of inveslmcnls valued during the year. the names of the valueis loi particulars of
19 Debtors
Z023
2022
Amounts falling due within one year:
Trade debitsrs
Prepayments and acciued Income
16.532
9.875
25.412
9563
26.407
34,975
20 Loans and overdrafts
2023
2022
Bank loans
57,065
101.075
Payable within one year
Payable after one year
43,880
13,185
43.786
57.289
The long-lerm loar)s are Linsecuied and a iequiren)eiil has been agreed by the Trustees lo maintain the
Inveslmenls 31 no less than £1 m throughout the duration of the loan.
21

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
20 Loans and overdrafts
Icontinuedl
The Trustees, as part ol the funding loi the refuibishrnent of the Masters House agreed a 103n facility with
Unity Trust Bank plc for £1 bO,UOO repayable over 84 months commencing Oclober 2C17. The interosl rale is
3.50/0 over the prevailing Bank ol England base rate. A further loan was agreed lor £75,000 wilh Unily Trusl
Bank pac lo part fund the extraordinary iep3115 needed lor the Chapel. The Inlerest rale Is 3 59/0 over the
prevailing Bank of England base rale and was repayable over 84 rnonlhs commencing January 2019.
21 Creditors.. amounts falling due within onè yèar
2023
2022
Notes
Bank loans
Other 13xatioii and socia1 security
Trade creditois
Olher creditors
Accruals and deleried income
20
43.880
2,520
2,513
43,786
2,150
21,329
35,391
70.242
84,924
22 Creditors.. amounts falling due after more than one year
2023
2022
Notes
Bank103ns
20
13,185
57,289
23 Retirement benefit 5chomes
Defined contribution Schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assels ol the
scheme are held separately from those ol the chaiity in an independently admin15tered fund through NEST.
The charge lo profit or loss In respect of defined contribution 5ohemes was £2,11412022 . £1,994)
22-

J (o
4 th
(O o)
J m Th4
W￿¢00

HULL CHARTERHOUSE TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
26 Analysis ot net assets betsveen funds
Unrestricted Restricted
Fund
Funds
2023
2023
Total Unresliicled
Fund
2022
Restricted
Funds
2022
Total
2023
2022
Fund balances at 31
De￿mber 2023 are
represented by.
Tangible asse15
Investment pioperties
InveslmentS
Current assetsllliabilitiesl
Long term liabilities
1.843,537
675,000
2.122,934
119,0341
113,1851
1.843.537
675,000
2,12T.094
118,0341
113,1851
1.875.843
675.000
2.194.170
133.2111
157.2901
1,875.843
675.000
3,982 2,198.152
133,2111
157,2901
4,160
1.000
4,609,252
5.160
4,614.412
4,654,512
3.982 4.658.494
27 Related party transactions
Mi A Randall holds the position of Warden aiid is the son 013 Tiuslee. This Is not a key rnanagemenl position.
His appointment and any ongoing Inatters are dealt with by a foimal declaration of Inleiesl and the said
Tiuslee leaving the meetin9 at which the re131ed msllers are discussed by the rernaining Board tnembers.
25