Chrity Mnbtr. 227ni THE GREENWICH CHARITY OF WILLIAM HATCUFFE AND THE MISSES SMITH TRUSTEES. REPORT AND FINANaAL sfATEMEpirs FOR THE YEAR ENDED 30 SEPTEMBER 2024 THE GREENWICH CHARITY OF WILUAM HATCUFFE AND THE MISSES SMrrH CONTENT5 legal and AdMYkrrat￿e information ReFQrt ofthe TrL Indeperwlert A￿litor< Rewrt stste￿nt of Financial Athvities Balance Sheer 14 5tatemtnt of Cashfio¥J3 Nrtestg the Yinancial Statements 16-24 THE GREENWICH CHARITY OF WILLIAM HATCUFFE AND THE MISSES SMITH LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR EAIDED 30SEPTEMBER 2024 TNstee GreerY*ich Wili¥n Hatdiffe ￿ Misses Smkh Trustee Limtied (apwnted 22 ju￿ 20241 Andrew Blu Rcyr Hwh IUwr} Jeremy Holknd Gre￿ry Kir Karolina Model lapp)in1￿ s September 20241 Helen Mdntosh chri5 Memlle Ivke Chair) Cllr Majkj Rahrnon Malcolm Reid (fr￿rer) Rithard 5etoTrCkn)ents Cllr P47trioa Sanery Cllrchristire 51 M#the*-Daniil Re¥'d ShrKJn Wbnn lex-fftw>) Cl•rk trlthe Tru5teo Penelope El¥v A¢knlnlstr&or Caihertr* T Chkn feiistered nwnber 227721 Princip•l •ddrwi PQ Box 55 151 TrafalgarRo•d iLth SEIO 9rA Propeffy mana Danlel WatwiLP 165 Fleet 5treEr LoTrJon EC44 2DW Caunove Capital Manwent 12 Moor8 L¢mdon EC2R 6DA Bankers CAF Bank Z5 Kings Hill A¥enue We5¢ Ma1￿ r% ME19 4KI HardektHnk•n LDTrdon Bra 4th Floor. ￿ Southwarkstreet Jon SEI IUN Pa*1 THE GREENWICH CHARITY OF wI￿lAm HATCLIFFE AND THE MISSES SMITH LEGAL AND ADMINisfRATIVE INFORMATION FOR THE YEAR ENDED 305EPTEMBER 2024 IndeP￿dert 4MIth lindeyer Francis FergUs￿ ￿rnited North House J98 H￿h Slrtet TcTrbrid TN9 18E Pase 2 THE GREENWICH CHAIUTY OF WIWAM HATCUFFE ANDTHE MISSES SMITH REPORT FROM THE DIREcfoRS OF THE CORPORATE TRUSTEE FOR THE YEAR ENDED 30 SEPTEMBER 2QZ4 The Directors of the Corpor*e Trustee Ithe Dirertor51 pre5eni thelr ann￿1 repon t¢£ether with the audbted financial 5t?temertsof The Greenylch Chxlty of Williarn HatdrffÈ and the Mi55es Smith lthe Charity) forthe year ended 30 SeoÈmber 2024. The L￿eLlor5 conlkni the report and fmanual siatement5 of the Charity com with current statutory reqU1￿mert5. requirements (rf the Charrt¢s ￿l￿ning documeni and the proyislons of -At¢ountr'ng ar￿ Reportiry by Lfvrit*s: Statemènt of Recomrner￿ Praaice appllcablÈ to charltles PWEparin8 t￿1r aLrounts In arcordance with the Finar￿al Rewniw Stsndard applrrable In the UK and Republlc of Ireland (FR5 1021- leffzctTrR l January 20191 ICtharitye5 X)RP IFRS 102lh Tr legal and knlnistrative knformation on pages 1-2 l¢rms Partorth￿ report. The Green¥Ath Charity of Wllllam HatcliffE and the Misse5 Smith, alw as GreenvAch Hatcftffe. Is 2n IrKorporated charir¥. whkh exi5t5 under a Charrty commi￿on Scheme of 14 June 194Q as varled by SihEmes ofthe Comm￿lonerS of26AuRu# 1955. IL lune 1984, 8J•nuary 21XPJ, 22 2024 and C6 Septsmber2024. The Charity was set ¥Jith t44w objett￿.. to wowde and malrrtain thirteen hjrnshouses fDf PEo￿e in ￿ed over the age of fJfty-fThe. wrth a preference For Wb*yn•.n. of eood charartér livir6 in the AnG*nt Parish of Ext Greenwiih. and to pay perthns tts men and women wth =he 5arne res**nce and ase walificatlon. With in¢rea$Sn8 Statutory pr¥J¥iS￿n the elderty. practire of paw.ng ￿nSionS became redundani, and Its org4nal alm subsumed intn a new granl-tnakins f¥ilty fvrnMli5ed by J of Charity Crxnmisslon of 08 january 20¢9. ;hDuEh a d15trtbuticn is Siill m•Je kn al resident5 every ChristmaL In the amendment fo the Schem¢ the Charity cOrr￿n1$S1on gave permission io an)end the geographKal area of benevolen￿ to the area Seuth of the RtverThames wiihin a fNQ- mae radius of the and to lowerthe asE re5trirtion for benefKi•ri•s. bwh wgmen and men, to fiftrfiw*. The Charlty has the rght io receht Dne half of the ckar yeady irK(wne of The Estate Charty of Wfflkm Hattiiffe the London 8oroughs of Greenwich wMI Lewisham, The Charity a150 has the use of thirteen AirrnslKJU5e5. wrth the apwxtenar£ts, on land situated on the sid of Tuskar Street, Greenwith, subie¢t to tfve payment of the yearly sum ol £9 to the fru5tees ol The E5tat¢ th¥itv of William HatrliffE. At the ￿hest of the Ch¥iV5 former Trustees, the Charity CommissiDll'S kheme of 22 July 2024 appMtrd Greenwich Winkim Hatcliffe and Misses &￿[th Trustee Ltd ￿ the sde CorporateTru5teeof Chariry. UndEr the Article5 of A$￿)datIOn of the Cryporfe Trustee. the Board of DirECtor5 of the Corporate Tru5tse Con5￿t$ of: Olle ex￿￿1[m) Dtreclor Not rnore than Six nominated Dirertor5 who be nominated at Ime by the ￿rd (subject ID Artrcle 8.zl Not more than 501 apFolnted DirEctys be a(wirTted at Ory time ￿ the knrd Subject Isubled to Article 8.2) THE GREENWICH CHARITY OF WILLIAM HATCUFFE AND THE MISSES SMITH REPORT FROM THE DIREcfoRS OF THE CORPORATÉ TRusfEE FOR THE YE4R ENDED 30SEPTEM8ER2024 The ex-olflclo ￿re￿or shall be the Wicar for th¢ tim• bel￿ of tre Etclesksoical Parpsh ol 5t. PJfe8e with St. P￿r Gree￿Ch. It durin8 ary pemd there rs rKJ of the ccclesia5tKal P•ri5h of SL with SL Petw 6￿￿wICh. the pr*st for the time being in chargÈ of Ecclesia5tKal Parish shall by MrtL* rrftheir office be a DIre£￿r. The priest shall cease to act a5 a Dbrector w there being a Vrar apw.nted pur￿a￿tt0 Artirle. 6.1. ¢ordlnÉ to the requirerner￿ Df the Sctrwie and the Art￿leS of Assotsatun of the Corporate Trustee. six Direcrors are ncYnSn8ted by the London Borou8h d Greenwich a￿1 six Dtrettors are CO￿p¢ed by the board of Oirettors. When Co-opts￿ neiv DiTethr5. l*)ard con5thr anyskills the board and seeks tofill that gap. All new Director5 rece￿ a copy of ihe frust Deed, the latest accounts. the minuies of the two m05¢ recent mEetin85. a kn0k1￿ proll5 from orgarl￿ti[￿ that sjse the funds to help qualth.￿ Indknduals remain indeperthnt li th&ir own homes. GreenwKh William Hatdrffe Mtsses Smlth Trustee tirritid was irKorp)rJted as a privaLv Ilmted company on 12 February 2024, and the tharit¢s Trustees ¥￿re app)intelrrf. the ChWs in¥￿T￿ts remained under the mndate with Cazenove Asset •AanagemenL The valve of investments a5 at 30 september 2024 was £2.373256. up of £1,445,250 in the investment portfolio aThl £928,¢J)G In the cash (kposrt account This F5 an Inc￿85¢ from the p￿vIOuS year of t141.853 the investment p￿ft￿￿O l+lOS%I and an increase ot £435.1￿ in tr,e depO￿t accouni. The mandate Cazerw A55et Management as of 30 September 2024 is a cautiQU5 b0￿nC￿l maTh4ate. However, &'ven thai Charftvs AIM5hLx￿e expaTrswJn project is delaiEd Idue to difficulties securiy svrtabk sitel, at o 8oard meetfnl on 05 September 2024. the Dir2ctor5 re501¥ed to InStr￿t C*erD¥e Asset Mana8ement to wTrve5t the tath on dery>sit irto a Fund and. at their d￿CtiOn. to m¢M to an overall 501 balance between current imiestments and fund imiestmen¢* ￿ of 3C September 2024 asset albcatlon atr055 t investment5 Vlith caleTh￿ A55et Managemeni are Etyities{17.￿A1, Fixed Income130.6%I. AItEmati¥es113.3%1 and cash139.1%l. Interest is eaTned on the deposlt at 05% below ihe Bank ot Base R*e. The overall perf0m1a￿e fc* the of Investments hEkl wrih Caler￿￿ 74YaS &8% cumulatNe. Bonds and Alternaty￿s showed gc(rfJ gr(vrth. wl:h CcrJwn¢JdTtiE5 (Alrernatlvesl svilunt￿ tpuformin8 it5 Ind ou Holdings in EllrO￿ ex. North Amerts afvj Emw8ifvd Market etyitiE5 dEtv4rted from the overall retum, al underperbmiirvd ￿1r respecrp&* inde Plon5 fr>rfuhYe Per￿d* The Dlrectors will contlnue with the Charws provis￿n of a￿51￿siry at Tuts Street and will also conti1￿ to help indivTrduals remaln independerrt in their homes thrO￿h it5 Brant 8i¥irw. They are LOntinuin8 their plar for rhe development ￿ new almslw)uses by seekin8 $￿tal￿t pkt5 and ttevesw'ng part￿rShIPS in Gree1￿￿h. The Directors arÈ tnntinuirg to build reserves to fvnd the eMpan5v)n. rThTrd•l f•Tlew The Charlty is maith funded by annual distribuii(h45 from Tr E5tste Charlty of Wllllam Hatclrfle and the Misses Smrth. That charity derives its incoffle from prcpErty wrreth. aThJ for a n14mber of years pa￿, its all(￿tIon to the Charrty has Outstripped by a o)nsthraEle maruin the Char*y's ability tQ tl* rnoney. Residehts a&0 pav Pa8e6 THE GREENWICH CHARITY OF WILUAM HATCLIFFE AND THE MISSES SMITH REPORT FROM THE DIRECTORS OF THE CORPORATE TRUSTEE FOR THE YEAR ENDED 30 SEP7EM8ER 2024 ekly maintenance Comrtrtrticr￿, ¥knich are used ttswawds the costs of the pr¢p4i%kn ol hDU5in8. Income fcr the year wa5 £326,553 12U23: E553,IX1714nd exrendibjre £153.976 17023". £152,3D51. A eain rxb investments of £124,187 12023: ner k>ss 01 £4.8311 was made. At the end of the year. Ihè surplu5 mtarrt thatTrustees irKrea5ed their reservE5 by £2%.764 IZQ23: £395.8711 and had total a¢¢umukted reserves of £3.098,852 12023.. £2,802,087). Of this arnunt F32,995 12013. £ai.9551 relates to a ￿tr￿ted fund fcy exrraorthary ￿pairS in accordan￿ with the Trust Deeé, The only ￿ring the year wa5 annu?1 trlnsftr of £L04D. a5 per the Trusr Deed. ftesen7os and In¥eslmert ￿11¢7 The Dlrectots of Cory>or)te Trustee have an agreed policy io untinue to ￿trease reserves as t￿¥ have lone-le￿ plan to build new Almshouses. Atthuuuh the Dreaors are accumu13ting re5er¥es for thls proJeci they have ag￿d notto c(xtall thelr yant¢Nir¢. As of JO Septermer 2024. the t*rector5 an a8r*d Ir￿e5￿ment poliry t*rch CaTrnth C4MtsI Managementto invest in a low io medium ri5K balar￿￿. wrcfrdyj, wlth emphasis on growth. not InrDme. and with the unde￿tandIng that funds will bc required for the in ar￿nd th￿ to fhe yearg tlme. ConseqLthrtly, the IrThestrnerf Mana8er has Invested the w)rtkJlki in liThÈ its core cautious mandate. Glyen e￿ected delays to tr* Almshouse Expansion PrtTriert (due to the chalEnges in ar4uiring an •pproprlatÈ plov, at mÈÈting on Q5 *tember the l)6rettor5 of Corpw*e TrL￿tee rvsolved to insrrua Cazencve Asset Managementro irfvY* cash curreth held in ts deposit account k)to a fuNJ and to begin ro move from a t*rtiQUS to ￿l¥￿d irNgsrm•nt mandate. The Trustees note thaL whilst kntainatilty faaw5 form of the in¥e5trnent selecrion process at Ca￿n Asset Mana8emert. the strntE8y 15 notfrym* folkn￿￿ a 5u5tsinal￿¢ l •thical 5pKifi¢ irfvpstment poliry. For the year endinE 39 5ewember 2024. the char￿ cffits"￿LRd to to its reser*5, with a gJplu5 of i￿Ome over expenditure as dis¢ussed ￿ller In thy5 reporL The reserve5 have dther placed in Interest be3￿ry accounts or hove been translErred to tseTh)ve Assei Mana8ernent to be placpd ift thelr deposit acccjunt. Per above, on 05 September 2024. the 01r￿t￿r$ resol¥ed to in¥estthe c05h currenity held Sn the ChariW5 Cazenoye deposlt account Into af￿￿. duc ro delays wlth ￿ tharws ExP￿19n ProJecL ((esponslbllltle¥ St*ement of the DirnKtW5 alth• CryptyatrTn￿• The Direaor5 resp)nslle for wepar*y the CNm)rdte Trustee's rEWrt awKI the I￿￿￿11 stattmtnt5 in cordance wrih applicable law and Un4ted ￿EdOM S￿d￿rds (Vnrted Klwdom Generally Accepled Accountibw Prtdicel. The law appIl￿b￿ io charit￿$ In Ertynd & Waks reguir•s the Trustee (hence Direaors Ihereofl to prepwe financial statemerts lor each financial ye¥ wnich Sbye a true and fairview of the srate of aff31r50f the charity and of the incomwy resoU￿e5 and appl1&it￿ of resouTce5 of thp charyryt lor that period. In preparin8 these finandal sla￿nents. the DlreLTrr5 are rew*ed tik selert su]tableaccountirg pok¢ie$4trxl tlth awly them Cry￿s￿￿￿t￿r. obswe the methods ar*J pri￿•ple$ in the chariti.es SORP,. make J￿J￿Ments and accrK*thng estm•¢es that a￿ reasoMblE ￿ pTudrt' Pa8e 7 THE GREENWICH CPtARITY OF WILLIAM HATCUFFE AND THE MISSES SMITH REPOKf FROM THE DIRECTOILS OF ThE CORPORATE TRUSTEE FOR THE YEAR ENDED 30 SEPTEMBER 2024 &Yepare the finanoal statements the 801rf corKem basis unless rt is inapproprlatp to P￿uMe ihat the ftharlty wlll coop.nue in owètk)n. The Dlrect¢rs arE re5p)ngble lor keeping ade4u3tÈ records that are 9Jfficient ¢0 show and exP￿ill the charitV'5 traTr5KtTrOn5 and dlsclose with reasonable atturacy at aiy time financial ptssltbn of Ihe charrty and enable ttr*m to enSlXE thEt the fjll•ncial statements cnmpty with the Charit*s Act 2011, the Charity IAccounts and Rewrtsl ft4dalK)ns 2(U aThl lTh￿t deed. They are also rpsponslble for safeBuarrnprise Staterr*nt of F0nè￿lal AttNllle4 the BaLirKe 5hEet. 5taternent gf rashflow5 and the felaied rKJtes. including a summ*y of 5Enifrcant account6n8 poli[￿$. The financial rewrtirb8 fiamework that ha5 bEen aPP￿d In thebr weparntyn i5 applcable vnited Kingdom Accouniing 5rèndards. Including Financial RewJrtin8 Standard 102 Yhe financial ReFY¥￿n8 Standard appkablc in the UK and Rep4t4c of Ifeland Iunired Xingdom Generaly A(cepted kcoununB PraEtKel. In our OFxnion, thefinanual statgnwnr5'. a true a￿j fairview ofthe ststt ofthe affatrs as at 30 koember 2QZ4 and of Its incomln¢ resources and applicatlon of resour￿ ft>r the ￿ then ended,. have been propedy prEpared in accordance ¥NIth United KinBTma1￿n an4 in doin8 50. consxler w￿ther other inforrnaD"on 15 m*er6ally inconslstent ¥￿th the financial ststements or our knowwge obtaI￿d in the aLxlit or otherwise appean to be materlally m￿Stated. PaBc9 THE GREENWICH CHARITY OF WILUAM HATCLIFFE ANDTHE MISSES SMITH INDEPENDFMf AUDITORS. REPORT TO THE TRusfEE5 OF THE GREENWICH CHARITY OF WILLIAM HATCLIFFE AND THE MISSES 5MrrH If we identify 5vch ffl*erial Inconslsterths er apparent matetfdl msststefvwTts, wè ale rEquired to dEtem)i whether there is a materkl misslzternent in ￿ fin8ncial statements or a material miss¢*ement of the other inlormatiorL If, based on the workwe ￿rfOr￿￿& we ¢onckn*e that tr*re 15 a material mtsstaiement of th other Infcrmatlorn we are rEquired ts repjrtthat P4cr. We have nothing to report h th6 regaid. M•tt•ri we ve iewred to rep￿1* txceptlon We have notliry to report In respert of the following matters in relatw to whkh the tharfc5￿ (Accounts ènd Reports) Regulatlons 2008 retywe u5 to repJrtto if. in our aplnlDn: the inforMat￿n in the statemtnts i5 rrunustent in any materkl rt5pect with th trustees, rewrt: or 5uflicient accounting recorts IAve N>t t*en ketrt.. c the finanual statements not in agreement with the account1￿ records: or we ha￿ noi received all the inform3trJn and expknw.ons we require lor ow wdii Re4)th1$5blWties oltru*lett As exrAained rn0￿ fully in the Trustees, ResF4)r6ibS1it*s Ststement set out in Trustee¢ Rewr¢ the trustee5 are responsible fDr the preparat￿Tr of the fftnandal ststements aTrl for being satIsf￿ that they 8fve a true and lair vicw, for wth intorr471 control as the trustees detsrmiAe 1$ necwary to eneble the PTeparatx>n of finanaal staternents thatare freefrom material mlsststern￿l whother due to fraud or error. IM prepaflrrf the fts)abThl stalemerTt5. the trust￿ are re5w>ns#>le for aSs￿￿n8 the ¢h•ity'$ 4bilKy ro wntinue as a goin8 ¢on¢ern, as applicable. matters re￿ted to wr41 Lonitrn and usin8 the 8oiry corKern basls of atcountlw unless the tru5t¢Q5 erfiher inteTrJ to Ikuldate the ch￿tty or tn cease opelatlons, or have no realisti¢ •lternatf4e but to do ￿. udws rwionslbllllles for the awlt of th• st*•rn We have been appointed as a￿&tOr under section 144 of the CharibEs Att 2011 aryl reporl In accordance wlth the Act and releYaTrt refiulatlons made or h¥*iweffert tl*reunéer. Our objertiVe5 I￿ to obtain reasonab￿ assThce èbwt whether the ftnanckl statements as a whole are freo fro>m m•terial M￿Statement, W￿ther due to fraud or error. and to issue av éuditorf5 report that includes our opinion. Rea50nJble assurance is a knl of awranEe but is ncrt a bwarantee that an audit conduaed In accwdance ￿1th ISA$11￿1 will thtert a IT￿al mi5sratement wl*n It￿515. Mlsstatements can arise from frJvd or and are CDfb5idered material rf, Indhktslfy or In the aggregate. tky C4Juld reasonably be exp•rted to 1n1fu￿ce the ecorth)ic decisxJ•)s ¢f users tsken on the b•515 Of thEso financial st*ement5. IT￿6vIori￿g$. includin8 fraud, are ￿startts of wnvcornpf￿n¢e with laws and rÈ8ulatiDny We design prKedures in line with our responslbllities, outlined above. to d￿ect material mis#atements in respea of Irregularftles. indtsdinÉ fraud. The emtert to which our p￿edUreS are Capab￿ of (kning iTreBularltles. IrKludln8 fraud ,5 detailed below. PaRe 10 THE GREENWICH CHARrrY OF WILLIAM HATCUFFE ANDTHE MISSES SMITH INDEPENDENT AUDITORS. REPORT TO THE TRiISTEES OF THE GREENWICH CHARITY OF WILUAM HATCLIFFE AND THE MISSES SMfTH We cbtained an undestan(firva of the leeJl and re8uktory framework applicable to the preparatSon of the finandal statements of the charity. and the procedures that management ad(yt to er￿Ure compliance. We have nsidered the extcrrt Iv which non-comp&ance might hwe a material effect on the f￿a￿la1 statements, and in partlcthaf we id•ntlfied: FR5 102. The Charlths Act 2011 and The Chanties SORP. We have als¢ identthd other law5 ￿Y￿at10￿that do rx)t have a dirE%t effett on thE arnouw5 or disdosures within the flnancial staternents, Ixrt for ¥&h￿h ¢omplarts Is fundamentsl to the ch3rttyoperat￿n5 aryj to a¥oSd materkl ron**s. Inc1￿lin￿ GDPI data protecoon reEulatths health and safery and landlortl aThJ Having re¥lewed th* laws aNI re8ulatth appkth tD the charity. we deswd and perForrned audit procedures to obtain Suf￿"ent appropriate auditthidence. SpecifKalty. Twe.. Solarted a team with se(Tor experience was Se￿cted cLvnpleting ihe 4uditr, Obtained an understanding ol thE charity'5 wocedures for trtsur1￿ Eumplian￿ with laws •nd e8ulatwns.' (X)taincd and reviewed internal pollcy and proLEthJredDcuments; Made enqulrles of mana4ernent and twmees regardlnÈ whether they )w•rE of any actual or 5U¥JCLtcd incidcncc5 01 non-¢ompliarKe wrth and re8ulatior&: Obtained revlewed meeting minuiE5,' Revkwoy legal expenses acc￿￿ts for indicationsof Jx)ssible noTrcurrbpknwKe: and Rev*wed the ojmpkn and ￿CUra￿ of any d￿re5 made h the lin)ncial Strt￿nents. We assessed the sus¢eptlbltr of the chriV5 financial statemerrts to material mi551atemen( includi conslderin8 fraud might Lxcur. Thi5 Va5 performed by. mak[￿ an assessment of the charws s)sEems & contro& inrlLXli￿ identsfywiB Jny weaknesses and considenrg risk of Tr,ana£emenro*rride ofu)ntrob: Conslderlr..g ￿there are any incenti￿$ or opwrtmes for man3¥ementto manipulats finanoal resulrs: OblaiNiTha eyakwting the tru5tee< asse￿Ment of the risk of fraud. and enquiring as to whether they were of any actual or su5￿ted fra￿. Revlewln8 accounliry FK)licie5 and accounting esrlmates lor slgns d management b"as.' Id2ntifyin¥ key risks rel￿1￿ to irre8u1aril￿ k£kndkn8 reder￿e reEDgn¢ion •TrJ manwent o¥errlde of contToI Re¥iewinB journal entries forsign5 of managemwt blas ￿ Ob*frf¢* ofcontrols. We then designed £udft procedures in rES￿nse to the risks h4enll￿d. induth8 wrforming wbst)ntive testi on all material income streans rv¥lEwi￿ ioumal entries for signs of rnanagernent bia5 or override of contro Th• audrt has been planned and pefvmed ￿ in 7Aith •Jthting standard4 howE¥ei. IYcau5e gf the inherent lim[￿lOn5 Ot aujit wocedures there rernain5 a risk rhaf we wlll nDt detect all kregularit*s. irduthing those that may LO niaterial mI￿tate1￿c￿lS in the financ￿1 sratÈmÈntL There pre inherent diffiojltles In detecting Irregularities. and irreBularirtes that result from fraud may be more difrirult to deted than irre￿Ilar*Ie9 Page JI THE GREENWICH CHARITY OF WIWAM HATCLIFFE ANDTHE MISSES SMITH INDEPENDENf AUDITORS. REPORT TO THE TRUSTEES OF THE GREENWICH CHARrrY OF WILUAM HATCUFFE AND THE MISSES SMITH that resull Iroth errtsr, for exarry>le due ro cO￿aLmen¢ ¢Nerride of contro15. collusion or mkrerKesentknns. In ddltls)n. the further rwoved nor*n5 15 from tr* e¥et)ts •xl tran5Xt¢or reflec￿1 in the financial ststemenrs. the less abdlt pmcedure5 are able to ￿rtIfY It. A fvrther desuiption of OUT responsibifftT'es Is a¥allab￿ on the Financial ReportlnE Cou￿11'S A4*bslte at: a￿hOrsreS onslbllltles. This description foms p¥r of ourauditor's report. Use 01*￿r report Thi5 report is made solely to the charws tntstees. as a Li)dy. in XEord4nce witb. Part 4 of the Charities (Accounts and Reportsl Regul￿0￿￿ ZI￿. I￿r work has been vndertakn 50 trAi we m*ht state to the tharitV& trustee5 those rnaiters we are requlred to state to them in audltor's report aTMI for no o purpose. To the fvlkst extent WTniued by jaw, we do Kcept tx assume responslblllty to anyone othei th)Th the charity Jnd the charIt￿$ trustees as a body, for our audit lor thts rep)rL or for thE opiniork5 we have forrn¢Yl. Lindqyer nas Feryuson U Chartered AcrL)untants and ststutt￿AudlIOrs North House 198 Hl8h Stre Tonwidrfe Kent TN9 18E Date: ... L4104J25_-......-.. Llndeyer Francis Fer8uson Lirnitd is ¢I￿lbIe to a(f a5 •n autlitof in tern￿ of Secti￿ 1212 Of the Compan￿5 Att 2￿6 Page 12 THE GREENWICH CHARrrY OF WILUAM HATCUFFE AND THE MISSES SMITH STATEMENT OF FINANCIALACTIVMES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Total 2024 Totol 2023 Funds Funds Plot• Inwme fr¢* DonatKJn$ InvestmEnt incorne charitsb￿ actTriities 168.0)) $2,618 75235 168.1 82,618 75.935 430.0(M) 49.315 73.692 326,553 326,5S3 553.007 ExwThlhure on: Raising fuTh* Charitable actlvithts 17224 136,752 17.Z24 136.752 16.984 135,321 153.976 153,976 152.305 Net gain on investments 124,187 L24,IB7 14.B311 Net Income Lthjre transfer5 296.764 296,764 395.871 Transfers betrjeen funds 1.04Cs N* in fvnds 295.n4 395.871 knconcillatkjn offtmds Funds at i Ortober 2023 13 770.132 31.955 2,801087 2.406,716 Funds at 30 SepteThthr2024 I,(￿5.856 3.098.851 2,801087 P4e 13 THE GREENWICH CHARftY OF WILUAM HATaiFFE AND THE MISSES SMrrH BALANCE SHEEr ASA T30 SEPTEMBER 2024 2024 2023 HousinE propen Invesimerrts 235.111 2,373,256 239,742 L798,294 2.608.357 2,038.D36 Current Debtors Caqh at and in h?r#l li 93.837 4L5,542 225,666 SS4.643 509J79 780.31J9 Credltors: amount5 fall￿ wlthln year 118m51 116.2581 Nrt current assets 4￿,484 764.051 3,098,851 2.802.087 The ftmds rfthe tharitr. Desl8natedknfids: Housing properttes lund Grant fund Repair fund General fund 235.1 10.0 2(Ml,(XK) 620,745 239.74Z io,r Totol unve5tricte41 furKIs 3.(￿5,￿56 1770.132 Tthal re5trfrt•d knd5 31995 31.955 Total Funds 3,098￿5] 2X)2.Q87 Approved by e Board of Tr￿tee5 on_ and signed on bthalf ￿. aimi*b (knktoth•T Paee 14 THE GREENWICH CHARITY OF WIWAM HATCUFFE AND THE MISSES SMITH STATEMENT OF C4SH FLOWS ASA T30 SEPTEM8ER 2024 2￿4 Cash flows frnm op¢r*ing athitle Net C15h provwjed by operating actsvitiES 251,345 22Z.782 Cash flows wNestlry acil¥itiÈ5: Dividends aTh4 intefest frNn invesrmert5 Purchèse oftsn*4e fixed assets Purchase of investments Proceeds frcyn sale r•firrrtstrnents 82,618 493lS { 212891 (49,22ZI 1377.1181 1408,3631 359.452 36D,646 et cash used in in￿ti￿ a¢tivit•es 42 147,6251 Chwe in c•th ￿ ush e•*rfalonts kn the 294(Q8 175,157 Cash and cash equlva￿nt5 at the beBlnnln8 ofthe 1.049.540 874,383 Cash and cash e4ui¥aants at th•qnd thl 1.343.548 1,049.540 A. Rtcontiliatlon 61 nrt to ne* cxh11ry4T from apva •¢tMtleJ Net incr)me for the year Dl*ldeThJs and interest from investmerts IGain511105ses on investmert5 Depreclatlon Lo55 on disposals of flxed assets Detiea5el lincr¢3sel in debtors Decr￿Se in creditors 296,764 182,6181 1124.1871 25.916 39S.871 149.315} 4,831 25.050 131.829 2.637 (156.7561 3.101 Nei ra511 provkjed by Dpemirg xtlvft1è5 251345 222.7112 Cash and (ash 4tyiwalonts atthe end altheyttr Cash at bank and In hand Cash held in Imiestrnent portfalo Ilth 101 415￿2 928,OD6 554,643 494.897 ¢•th aNI ¢xh equl¥alertS at th• ulthE yeaf 1,343548 1,049,540 P4e 15 THE GREENWICH CHARrrY OF WILLIAM HATCUFFE AND THE M155E5 SMrTri NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 51atus The Green￿(h Owrfty of Wllllam Hltclrffe aThJ thq Mysses Smiih Is a tharlry rqtste￿d wrth Charity Commis5K>n in England & Wa*& Its reKistered addre55 Trs PO Box 55. 151 Trafa*ar Road. Greenwth. london SEIO 91X Detè* OF its *fr¥it*s We gfiwi in the Trustses. Rewt. 11 Jas15 rfsYep•nllon The finènoal statements been prEp￿d urmler the hi￿orkal cort con¥ertion except for nvestrnent assets. whkh are shI￿n at fair ¥alue. The finaroal 5tatemems have been prepared In accord•nEe with the StatEment rA Recornmenile(I Practke.. AccountinR and Aeportng by Charit*s pariw their a¢counts in acttrfdaKe wlth the FIna￿al AeFTrOrtinB Standard appIl￿ts1e In the UK ar•J Republic ot Iftland IFRS 1021 1effLytv￿ l January 20191 fcharities SORP FPS 102,1, the Flnancial Repr*tin¥ Standard applicame in ￿ UK and tsf IreLand (TRS IOI'I. financlal statements we wesented sterfln£ rO￿ded tottr￿ nearest wund. Thè charftycortstttutes a publK benefft entity •5 dethed ￿ Flis 102. The trU￿eel conyder that d4* to reser*5 being hdd there are Th) material U￿ertaInt1¢s aLw)uttheTrusVs atllfty to conthK* asa galng conrerr There art nts svdnrfiom areas irfl￿d&9Menl or e￿lM￿￿)n ￿￿￿ta1ftty. The dorrnarrt parent comparry has taken ad¥anta8e of the e¥emptions under sertlon 405 of the COmpan￿S *£t Xfj6 and section 139 01 the Chariths Act 2011 nrt to prepare con501id*ed count5.The financ￿1 staterwts preserf inlormat*)n ab(xrt the ch¥ityonlv. Income Income Is retoyni5ed when the charty 15 enrithd to the Income. It be rellaNy measured and 15 probable thai It Y4ill be rttdved. Ihcome from don8￿r6 ￿lateS to Income from the Estste cha￿tY ol Wllllam Hat£iffE. TIMS is rEco8ni5ed when a formal offer is madE in writiry. Income from lett1￿$ represent5 ￿lIent< mafjntena￿e ￿nt￿l￿tIonS arKI 15 vecoKni5ed when rt falls kn. EXp￿dit￿ Expenditu￿ i5 Tecognised Wh￿ ihere Is a legal or construthve obllgation to tr*tsfer resources to a third party, settjemewrt 15 a￿1 the amosxht can be mEa5ured reliabty. PaEe 16 THE GREENWICH CHARITY OF WILLIAM HATaiFFE AND THE MISSES SMrrH NOTES TO THE FINANCIAL StATEMENTS FOR THE YEAR EbVDED 30 SEPTEMBER 2024 A¢(wnt1￿ pdkles {cc¥rtlN*dl 2A Value Add•d Twt The Ehirity ￿ ￿)t reyistered for Value Added Tax. In these finandal ststerncnts. where awAlcable. expendture is sfthkn I￿lusive of VAT. L5 IIou5ini proputies The 0ri8lnal cost of the AlmthDu5e5 is not known and a nomlnal value of £1 wa5 attributed to th￿rn ￿ 11 June 1984. The rernainin8 howw propErtie5 C05t reLite5 to improvements carrbed our Sir￿ tTrNit dote whlth were funded by a Hougn8 cOr￿rat￿n Grant and from the CharSty's own The chaNty has the use ofthe Amsh(wses uthrthe terrrs ofthe TTUSt Deed ofThe Estatt Charity of Willlam HatrlrfF¢. Ap¥rt from th¥t Trust t)eed there Is lease or at￿r doCu￿nt r@latinB to the char￿5 tenure. ThÈ Trusttts are ssti5fied that charity has s(tfficJent daim to the Almshouses as a fixed 35seL 11(w*As51xlatkn Grart A HousknKAssodation Grant of £32IY87 wa5 parl by the Housing Corporation towards the cest of development and ha5 been recognised as ]r￿Orne and addÈd to reser¥es. The gTrnt is repay•ble under certain orcbmstances. Phmarity follow•¥ ￿ sale of a prorerty bul 4Yill norrndlly b2 restrkted to the net procthls of sak. In view of the c¢n5tit¥rtion of tharrry. and of tenure of the properti￿. i% 518nificant Ilkelihood of a dlsrosal of tht propertie Depreoation is provlded on knprovemert5 to the hou* prnpenoe5 at rdies determlned lo wrtte down such Improvements over theli ￿lMate￿ttl￿6 75,935 73.692 PaBe 18 THE GREENWICH CHARITY OF WIWAM HATCUFFE AND THE MISSE5 SMrrH NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR EhlDED 30 SEPTEMBER 2024 Expaxiiu¥e on raSslrylur 2024 2023 Invertmem management fees 17.224 16,984 EMPe￿Il￿e on (th*it*e a¢J¥1Ues 2024 2023 Property ￿tting costs Property management fees Chrlstmas benevolence G￿nts to or¥ani5at￿ns Grants to Ir￿￿d￿a1s Depreciation CO irnpnmments to propertles Loss on disposal trl flxed as5Et Supp¢)rt costs 54.259 l¢i,f 56ts Is203 L6 3.222 25,916 7.109 25,050 Notè 8 34.492 31.544 136.752 135,321 Detail of grants to Drganisatk)ns are 61￿7 in the Trustees. Rep￿t. In PlEViQU5 year wJendirure of £Nil was from reStrk￿ fund> 2024 Clerk's fÈÈ, Bontss & Grant Adm￿￿9[ other costs Gowenx¥ncecosts.. Fees payable to a￿￿110r Fee5 payable to 3￿jitOrfOT other ser¥w- 4cc(rtmtarKy legal and professional fees 17.565 5.124 15.321 2.867 5XJL)O 1.6DU $2D3 7.476 34,492 31.544 Page 19 THE GREENWICH CHARrrY OF WILUAM HATCUFFE A￿￿ TIIE MISSES SMITH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Torylble flxed asséts Houikn8 Prtsp•rties- Alm5hr￿S Co At l Ortober X123 Additi￿0 the year Dismisals 792989 22.289 At 30 Septunber 2tr14 810,278 Deprfflatlon At I OEtober 2023 r8e for ihe ElimlThated on distmxal 553.247 25,916 13,996) At 30 Septembv 2024 575.167 Net B0okVal￿. At 30 september 2024 235.111 At 30 September 2023 239,742 PWZO THE GREENWICH CHARrrY OF WILUAM HATCLIFFE AND THE MISSES SMITh NOTES TO THE FINANaAL sfATEMEKf5 FOR THE Y£4R EhlDED 30 SEPTEMBER 2Q24 io Fix•d ass•t In¥estmèntS UK Loted Cosh held rotol inves¢ment portlo P*laTketvalue at l OctLkn 2023 AdditiorLS at £0St Disw5a15 at carpfjng ¥ok Irt0￿ment in cash bala￿t$ UnreaSised gaSn Dn revaluat L303,397 377.118 (357.0221 494.897 1.798294 377,118 1357JJZ21 433,109 111,757 433,109 121,757 ma￿et volue at 30 5ep¢ertJer 2024 1,445.250 928.(X 2,473,256 Disptrsals ￿Ude realwd gall￿ of £z.43012023: losses of É44991. De￿or5 Z024 X123 Accrued irKome Service charges receNabl 84,0 9.837 ZJ6.tNJo 9,666 93.837 225,b"66 12 Crt41torL" arnounts withkn oMyo¥ 2024 2023 Trade creditor5 Accrva15 and deferyed in￿nIe 3￿￿4 15,89L 1.167 15,091 18.895 16.758 Accruals and deferred irKfyne knclth resKlent contrkn recei¥Ed in advance ol El,869 120Z3: EI.452) Poze 21 THE GREENWICH CHARITY OF WILLIAM HATCUFFE AND THE MISSES SMrrH NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 30 SEP7EM8ER 2024 & gains /(losstsJ OL1023 It￿￿(e% Transfrrs 3th09.24 Unrtsbided fwKb Desi8nate41 lunds.. HOLFSY properties fthj Grant fund Repair fund Generdl fur 239.742 (253161 21.285 235.111 io.c 13,2221 3,222 2(KJ,O(Xl 1225.5471 lo.￿0 2LN).TrJO 2.620,745 2,$20,39 326.553 (651) Total unreslrtcted fvnd5 2,770,132 326553 129,789) 11,0401 3,065,856 Rotricted ft• 31,955 32.995 Tot41 lunds 2.802.087 326,553 129.789) 3,098,851 ResDurre5 Balance 30.0923 01.1022 rnsourres Ufftr•stslcted I￿￿1% Designated Hc4tsin8 propert*s fund Grant General fuTrJs 215.570 125.tI50) 49222 239,742 iO.IKKJ 2.149,731 17.109) 1124,977 7,109 157.3711 io.u 2,520.390 553,ryJ7 Tc>tal unrestrided funds 2,37s,aoi s53.￿7 1157.136 I I,o¢oi 2,770,132 Restrf(tedfund 30,915 31,955 Totsl fw 2.406.216 5S3,007 1157.1361 ?W.087 PWZZ THE GREENWIQI CHARrrY OF WILUAM HATCUFFE AND THE M155E5 SMITH NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30 SEPTEMBEA 2024 Funds {rortlrnMdl Deswwled Funds Ilouslng Ptv•fvNI The hougr¥ propertie5 fvnd repwesents the net tx>ok v* of leasetdd I￿￿5￿& propertie5 held for use 45 included In Note S. The annual th¥ge for depre0)t￿n ts allocated to thls fiK#l For any ￿ttIOnS to the t05t. of buildin85 15 a transfer io thi5 fund fiDffl th2 8enEral fund, Un￿55 con5•Yered exrraordin repalrs Iste below). GmntFutxI The Brant knd represents fund5 Set the w*ral Sn order to help those In nee(1 in the local cornmunity. wlth the aim Of keep*ii theii hol￿5. Transfers awdin51 General Funds have been Tnade in ￿th the turrent and prior year to ensure the kvel ol reserves kept In the 8rant fvrKI remains ai £lQ.l)Xl. The chartty has a restrlcted extraordinary repair fund 4$ outtsrnd bebw. The Board has aereed to de5i8natr in addiiional £2Q).Ix(I from ￿re$v￿le￿ fiJt¥Js for the same PWPD5e. Restri¢ted Fund The Exrraordinary repair fund Is esratrAlshed wler the Tnst tseed 8nd 15 maintained ftsr the purpJ$e ¢f Fxo¥fdin¥ for the extraordinary repair, inprownent Of rebiildéng of the hjrnshousès. The fund 15 rnairtsin￿ byan annual transfer of rKrt less than llJJ40 the urffe5trrted furnls of tw charlty. 14 ATr*lys15 al neta5xls bdweenfwKIs Totol Fimed assets rrent assets Current lia￿-1￿leS 235,111 zio.owxj 1373,256 266,384 118,8951 2.f4)8,367 509,379 118,8951 32,995 Net assets 445.111 2.620.745 32,995 3,098,8SI Page 25 THE GREENWICH CHARITY OF WILUAM HATCUFFE AND THE MISSES SMrrH NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED30 SEPTEMBER 2024 Total Fixed assels Current assets Currerbt liabilit 235.111 210,C 1.798,294 738JS4 2.038,036 780.3C6 116.2581 31.955 Nef ?55e 249,742 2.510.3 31.955 2.8D2,087 Is Rd¥t•d Party Tr¥n$4alo The E5tth ChHriry of Wiuvam Haidrffe is consmlered bytht trurtee5 to be a related party. Thls charity 15 ertitled to receNe one halt of the vearty inrome of that charlty. and the amounts recervable are Induded In dbtributil￿S as Note 3. kniounts due at the end of the y•ar are included accTued income in Note IL Thi8 charky also h35 the use ofthirtwi almStrK￿. wJth the 1wUrten￿￿$. on land $ituated on the rK)rth s¥J2 af Tuskar 5tW, Greenwlch. The freeknld title uf these propert*s 1% hp.ld ty that Cha￿tY ané the ten¥Ky Is sutyett to the paymerrt of the yearty sum of £9 to The E5tsit• Charrty of Wllliam HatclrfFe. The tnjstees are the charffjy's key manawnent per50nnel. During yew, no IrLAStees, r￿r pcrson ¢onnectsd to a tnjstee recerved any remuner*ion or beneffts w￿h1n ￿ star12023, Nill. Three trustees were r•rnbursed for expenses in¢urre4 t(*alling Él.7U5 12023.. £1261. These related to other costs. 16 Ultlmate p The charliy Dwned Ioty oW￿d ty Greenwkh %Vlllam Hatdlffe And Mi5se5 Smr¢h Tru51ee iimiiEd z company incory*)rawl in Erqknd and Wales INO 15483Y71. Their re8tstere4J Offi￿ 15 North House, 198 Street, Tonbrty. Keni. TN9 IBE, The purp)52 ufthe rDmwry 15 to retain the charity51radin8 name and there is Tro aCt•￿ty in the cOrn￿ny. Page 24 Chrity Mnbtr. 227ni THE GREENWICH CHARITY OF WILLIAM HATCUFFE AND THE MISSES SMITH TRUSTEES. REPORT AND FINANaAL sfATEMEpirs FOR THE YEAR ENDED 30 SEPTEMBER 2024 THE GREENWICH CHARITY OF WILUAM HATCUFFE AND THE MISSES SMrrH CONTENT5 legal and AdMYkrrat￿e information ReFQrt ofthe TrL Indeperwlert A￿litor< Rewrt stste￿nt of Financial Athvities Balance Sheer 14 5tatemtnt of Cashfio¥J3 Nrtestg the Yinancial Statements 16-24 THE GREENWICH CHARITY OF WILLIAM HATCUFFE AND THE MISSES SMITH LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR EAIDED 30SEPTEMBER 2024 TNstee GreerY*ich Wili¥n Hatdiffe ￿ Misses Smkh Trustee Limtied (apwnted 22 ju￿ 20241 Andrew Blu Rcyr Hwh IUwr} Jeremy Holknd Gre￿ry Kir Karolina Model lapp)in1￿ s September 20241 Helen Mdntosh chri5 Memlle Ivke Chair) Cllr Majkj Rahrnon Malcolm Reid (fr￿rer) Rithard 5etoTrCkn)ents Cllr P47trioa Sanery Cllrchristire 51 M#the*-Daniil Re¥'d ShrKJn Wbnn lex-fftw>) Cl•rk trlthe Tru5teo Penelope El¥v A¢knlnlstr&or Caihertr* T Chkn feiistered nwnber 227721 Princip•l •ddrwi PQ Box 55 151 TrafalgarRo•d iLth SEIO 9rA Propeffy mana Danlel WatwiLP 165 Fleet 5treEr LoTrJon EC44 2DW Caunove Capital Manwent 12 Moor8 L¢mdon EC2R 6DA Bankers CAF Bank Z5 Kings Hill A¥enue We5¢ Ma1￿ r% ME19 4KI HardektHnk•n LDTrdon Bra 4th Floor. ￿ Southwarkstreet Jon SEI IUN Pa*1 THE GREENWICH CHARITY OF wI￿lAm HATCLIFFE AND THE MISSES SMITH LEGAL AND ADMINisfRATIVE INFORMATION FOR THE YEAR ENDED 305EPTEMBER 2024 IndeP￿dert 4MIth lindeyer Francis FergUs￿ ￿rnited North House J98 H￿h Slrtet TcTrbrid TN9 18E Pase 2 THE GREENWICH CHAIUTY OF WIWAM HATCUFFE ANDTHE MISSES SMITH REPORT FROM THE DIREcfoRS OF THE CORPORATE TRUSTEE FOR THE YEAR ENDED 30 SEPTEMBER 2QZ4 The Directors of the Corpor*e Trustee Ithe Dirertor51 pre5eni thelr ann￿1 repon t¢£ether with the audbted financial 5t?temertsof The Greenylch Chxlty of Williarn HatdrffÈ and the Mi55es Smith lthe Charity) forthe year ended 30 SeoÈmber 2024. The L￿eLlor5 conlkni the report and fmanual siatement5 of the Charity com with current statutory reqU1￿mert5. requirements (rf the Charrt¢s ￿l￿ning documeni and the proyislons of -At¢ountr'ng ar￿ Reportiry by Lfvrit*s: Statemènt of Recomrner￿ Praaice appllcablÈ to charltles PWEparin8 t￿1r aLrounts In arcordance with the Finar￿al Rewniw Stsndard applrrable In the UK and Republlc of Ireland (FR5 1021- leffzctTrR l January 20191 ICtharitye5 X)RP IFRS 102lh Tr legal and knlnistrative knformation on pages 1-2 l¢rms Partorth￿ report. The Green¥Ath Charity of Wllllam HatcliffE and the Misse5 Smith, alw as GreenvAch Hatcftffe. Is 2n IrKorporated charir¥. whkh exi5t5 under a Charrty commi￿on Scheme of 14 June 194Q as varled by SihEmes ofthe Comm￿lonerS of26AuRu# 1955. IL lune 1984, 8J•nuary 21XPJ, 22 2024 and C6 Septsmber2024. The Charity was set ¥Jith t44w objett￿.. to wowde and malrrtain thirteen hjrnshouses fDf PEo￿e in ￿ed over the age of fJfty-fThe. wrth a preference For Wb*yn•.n. of eood charartér livir6 in the AnG*nt Parish of Ext Greenwiih. and to pay perthns tts men and women wth =he 5arne res**nce and ase walificatlon. With in¢rea$Sn8 Statutory pr¥J¥iS￿n the elderty. practire of paw.ng ￿nSionS became redundani, and Its org4nal alm subsumed intn a new granl-tnakins f¥ilty fvrnMli5ed by J of Charity Crxnmisslon of 08 january 20¢9. ;hDuEh a d15trtbuticn is Siill m•Je kn al resident5 every ChristmaL In the amendment fo the Schem¢ the Charity cOrr￿n1$S1on gave permission io an)end the geographKal area of benevolen￿ to the area Seuth of the RtverThames wiihin a fNQ- mae radius of the and to lowerthe asE re5trirtion for benefKi•ri•s. bwh wgmen and men, to fiftrfiw*. The Charlty has the rght io receht Dne half of the ckar yeady irK(wne of The Estate Charty of Wfflkm Hattiiffe the London 8oroughs of Greenwich wMI Lewisham, The Charity a150 has the use of thirteen AirrnslKJU5e5. wrth the apwxtenar£ts, on land situated on the sid of Tuskar Street, Greenwith, subie¢t to tfve payment of the yearly sum ol £9 to the fru5tees ol The E5tat¢ th¥itv of William HatrliffE. At the ￿hest of the Ch¥iV5 former Trustees, the Charity CommissiDll'S kheme of 22 July 2024 appMtrd Greenwich Winkim Hatcliffe and Misses &￿[th Trustee Ltd ￿ the sde CorporateTru5teeof Chariry. UndEr the Article5 of A$￿)datIOn of the Cryporfe Trustee. the Board of DirECtor5 of the Corporate Tru5tse Con5￿t$ of: Olle ex￿￿1[m) Dtreclor Not rnore than Six nominated Dirertor5 who be nominated at Ime by the ￿rd (subject ID Artrcle 8.zl Not more than 501 apFolnted DirEctys be a(wirTted at Ory time ￿ the knrd Subject Isubled to Article 8.2) THE GREENWICH CHARITY OF WILLIAM HATCUFFE AND THE MISSES SMITH REPORT FROM THE DIREcfoRS OF THE CORPORATÉ TRusfEE FOR THE YE4R ENDED 30SEPTEM8ER2024 The ex-olflclo ￿re￿or shall be the Wicar for th¢ tim• bel￿ of tre Etclesksoical Parpsh ol 5t. PJfe8e with St. P￿r Gree￿Ch. It durin8 ary pemd there rs rKJ of the ccclesia5tKal P•ri5h of SL with SL Petw 6￿￿wICh. the pr*st for the time being in chargÈ of Ecclesia5tKal Parish shall by MrtL* rrftheir office be a DIre£￿r. The priest shall cease to act a5 a Dbrector w there being a Vrar apw.nted pur￿a￿tt0 Artirle. 6.1. ¢ordlnÉ to the requirerner￿ Df the Sctrwie and the Art￿leS of Assotsatun of the Corporate Trustee. six Direcrors are ncYnSn8ted by the London Borou8h d Greenwich a￿1 six Dtrettors are CO￿p¢ed by the board of Oirettors. When Co-opts￿ neiv DiTethr5. l*)ard con5thr anyskills the board and seeks tofill that gap. All new Director5 rece￿ a copy of ihe frust Deed, the latest accounts. the minuies of the two m05¢ recent mEetin85. a kn0k1￿ proll5 from orgarl￿ti[￿ that sjse the funds to help qualth.￿ Indknduals remain indeperthnt li th&ir own homes. GreenwKh William Hatdrffe Mtsses Smlth Trustee tirritid was irKorp)rJted as a privaLv Ilmted company on 12 February 2024, and the tharit¢s Trustees ¥￿re app)intelrrf. the ChWs in¥￿T￿ts remained under the mndate with Cazenove Asset •AanagemenL The valve of investments a5 at 30 september 2024 was £2.373256. up of £1,445,250 in the investment portfolio aThl £928,¢J)G In the cash (kposrt account This F5 an Inc￿85¢ from the p￿vIOuS year of t141.853 the investment p￿ft￿￿O l+lOS%I and an increase ot £435.1￿ in tr,e depO￿t accouni. The mandate Cazerw A55et Management as of 30 September 2024 is a cautiQU5 b0￿nC￿l maTh4ate. However, &'ven thai Charftvs AIM5hLx￿e expaTrswJn project is delaiEd Idue to difficulties securiy svrtabk sitel, at o 8oard meetfnl on 05 September 2024. the Dir2ctor5 re501¥ed to InStr￿t C*erD¥e Asset Mana8ement to wTrve5t the tath on dery>sit irto a Fund and. at their d￿CtiOn. to m¢M to an overall 501 balance between current imiestments and fund imiestmen¢* ￿ of 3C September 2024 asset albcatlon atr055 t investment5 Vlith caleTh￿ A55et Managemeni are Etyities{17.￿A1, Fixed Income130.6%I. AItEmati¥es113.3%1 and cash139.1%l. Interest is eaTned on the deposlt at 05% below ihe Bank ot Base R*e. The overall perf0m1a￿e fc* the of Investments hEkl wrih Caler￿￿ 74YaS &8% cumulatNe. Bonds and Alternaty￿s showed gc(rfJ gr(vrth. wl:h CcrJwn¢JdTtiE5 (Alrernatlvesl svilunt￿ tpuformin8 it5 Ind ou Holdings in EllrO￿ ex. North Amerts afvj Emw8ifvd Market etyitiE5 dEtv4rted from the overall retum, al underperbmiirvd ￿1r respecrp&* inde Plon5 fr>rfuhYe Per￿d* The Dlrectors will contlnue with the Charws provis￿n of a￿51￿siry at Tuts Street and will also conti1￿ to help indivTrduals remaln independerrt in their homes thrO￿h it5 Brant 8i¥irw. They are LOntinuin8 their plar for rhe development ￿ new almslw)uses by seekin8 $￿tal￿t pkt5 and ttevesw'ng part￿rShIPS in Gree1￿￿h. The Directors arÈ tnntinuirg to build reserves to fvnd the eMpan5v)n. rThTrd•l f•Tlew The Charlty is maith funded by annual distribuii(h45 from Tr E5tste Charlty of Wllllam Hatclrfle and the Misses Smrth. That charity derives its incoffle from prcpErty wrreth. aThJ for a n14mber of years pa￿, its all(￿tIon to the Charrty has Outstripped by a o)nsthraEle maruin the Char*y's ability tQ tl* rnoney. Residehts a&0 pav Pa8e6 THE GREENWICH CHARITY OF WILUAM HATCLIFFE AND THE MISSES SMITH REPORT FROM THE DIRECTORS OF THE CORPORATE TRUSTEE FOR THE YEAR ENDED 30 SEP7EM8ER 2024 ekly maintenance Comrtrtrticr￿, ¥knich are used ttswawds the costs of the pr¢p4i%kn ol hDU5in8. Income fcr the year wa5 £326,553 12U23: E553,IX1714nd exrendibjre £153.976 17023". £152,3D51. A eain rxb investments of £124,187 12023: ner k>ss 01 £4.8311 was made. At the end of the year. Ihè surplu5 mtarrt thatTrustees irKrea5ed their reservE5 by £2%.764 IZQ23: £395.8711 and had total a¢¢umukted reserves of £3.098,852 12023.. £2,802,087). Of this arnunt F32,995 12013. £ai.9551 relates to a ￿tr￿ted fund fcy exrraorthary ￿pairS in accordan￿ with the Trust Deeé, The only ￿ring the year wa5 annu?1 trlnsftr of £L04D. a5 per the Trusr Deed. ftesen7os and In¥eslmert ￿11¢7 The Dlrectots of Cory>or)te Trustee have an agreed policy io untinue to ￿trease reserves as t￿¥ have lone-le￿ plan to build new Almshouses. Atthuuuh the Dreaors are accumu13ting re5er¥es for thls proJeci they have ag￿d notto c(xtall thelr yant¢Nir¢. As of JO Septermer 2024. the t*rector5 an a8r*d Ir￿e5￿ment poliry t*rch CaTrnth C4MtsI Managementto invest in a low io medium ri5K balar￿￿. wrcfrdyj, wlth emphasis on growth. not InrDme. and with the unde￿tandIng that funds will bc required for the in ar￿nd th￿ to fhe yearg tlme. ConseqLthrtly, the IrThestrnerf Mana8er has Invested the w)rtkJlki in liThÈ its core cautious mandate. Glyen e￿ected delays to tr* Almshouse Expansion PrtTriert (due to the chalEnges in ar4uiring an •pproprlatÈ plov, at mÈÈting on Q5 *tember the l)6rettor5 of Corpw*e TrL￿tee rvsolved to insrrua Cazencve Asset Managementro irfvY* cash curreth held in ts deposit account k)to a fuNJ and to begin ro move from a t*rtiQUS to ￿l¥￿d irNgsrm•nt mandate. The Trustees note thaL whilst kntainatilty faaw5 form of the in¥e5trnent selecrion process at Ca￿n Asset Mana8emert. the strntE8y 15 notfrym* folkn￿￿ a 5u5tsinal￿¢ l •thical 5pKifi¢ irfvpstment poliry. For the year endinE 39 5ewember 2024. the char￿ cffits"￿LRd to to its reser*5, with a gJplu5 of i￿Ome over expenditure as dis¢ussed ￿ller In thy5 reporL The reserve5 have dther placed in Interest be3￿ry accounts or hove been translErred to tseTh)ve Assei Mana8ernent to be placpd ift thelr deposit acccjunt. Per above, on 05 September 2024. the 01r￿t￿r$ resol¥ed to in¥estthe c05h currenity held Sn the ChariW5 Cazenoye deposlt account Into af￿￿. duc ro delays wlth ￿ tharws ExP￿19n ProJecL ((esponslbllltle¥ St*ement of the DirnKtW5 alth• CryptyatrTn￿• The Direaor5 resp)nslle for wepar*y the CNm)rdte Trustee's rEWrt awKI the I￿￿￿11 stattmtnt5 in cordance wrih applicable law and Un4ted ￿EdOM S￿d￿rds (Vnrted Klwdom Generally Accepled Accountibw Prtdicel. The law appIl￿b￿ io charit￿$ In Ertynd & Waks reguir•s the Trustee (hence Direaors Ihereofl to prepwe financial statemerts lor each financial ye¥ wnich Sbye a true and fairview of the srate of aff31r50f the charity and of the incomwy resoU￿e5 and appl1&it￿ of resouTce5 of thp charyryt lor that period. In preparin8 these finandal sla￿nents. the DlreLTrr5 are rew*ed tik selert su]tableaccountirg pok¢ie$4trxl tlth awly them Cry￿s￿￿￿t￿r. obswe the methods ar*J pri￿•ple$ in the chariti.es SORP,. make J￿J￿Ments and accrK*thng estm•¢es that a￿ reasoMblE ￿ pTudrt' Pa8e 7 THE GREENWICH CPtARITY OF WILLIAM HATCUFFE AND THE MISSES SMITH REPOKf FROM THE DIRECTOILS OF ThE CORPORATE TRUSTEE FOR THE YEAR ENDED 30 SEPTEMBER 2024 &Yepare the finanoal statements the 801rf corKem basis unless rt is inapproprlatp to P￿uMe ihat the ftharlty wlll coop.nue in owètk)n. The Dlrect¢rs arE re5p)ngble lor keeping ade4u3tÈ records that are 9Jfficient ¢0 show and exP￿ill the charitV'5 traTr5KtTrOn5 and dlsclose with reasonable atturacy at aiy time financial ptssltbn of Ihe charrty and enable ttr*m to enSlXE thEt the fjll•ncial statements cnmpty with the Charit*s Act 2011, the Charity IAccounts and Rewrtsl ft4dalK)ns 2(U aThl lTh￿t deed. They are also rpsponslble for safeBuarrnprise Staterr*nt of F0nè￿lal AttNllle4 the BaLirKe 5hEet. 5taternent gf rashflow5 and the felaied rKJtes. including a summ*y of 5Enifrcant account6n8 poli[￿$. The financial rewrtirb8 fiamework that ha5 bEen aPP￿d In thebr weparntyn i5 applcable vnited Kingdom Accouniing 5rèndards. Including Financial RewJrtin8 Standard 102 Yhe financial ReFY¥￿n8 Standard appkablc in the UK and Rep4t4c of Ifeland Iunired Xingdom Generaly A(cepted kcoununB PraEtKel. In our OFxnion, thefinanual statgnwnr5'. a true a￿j fairview ofthe ststt ofthe affatrs as at 30 koember 2QZ4 and of Its incomln¢ resources and applicatlon of resour￿ ft>r the ￿ then ended,. have been propedy prEpared in accordance ¥NIth United KinBTma1￿n an4 in doin8 50. consxler w￿ther other inforrnaD"on 15 m*er6ally inconslstent ¥￿th the financial ststements or our knowwge obtaI￿d in the aLxlit or otherwise appean to be materlally m￿Stated. PaBc9 THE GREENWICH CHARITY OF WILUAM HATCLIFFE ANDTHE MISSES SMITH INDEPENDFMf AUDITORS. REPORT TO THE TRusfEE5 OF THE GREENWICH CHARITY OF WILLIAM HATCLIFFE AND THE MISSES 5MrrH If we identify 5vch ffl*erial Inconslsterths er apparent matetfdl msststefvwTts, wè ale rEquired to dEtem)i whether there is a materkl misslzternent in ￿ fin8ncial statements or a material miss¢*ement of the other inlormatiorL If, based on the workwe ￿rfOr￿￿& we ¢onckn*e that tr*re 15 a material mtsstaiement of th other Infcrmatlorn we are rEquired ts repjrtthat P4cr. We have nothing to report h th6 regaid. M•tt•ri we ve iewred to rep￿1* txceptlon We have notliry to report In respert of the following matters in relatw to whkh the tharfc5￿ (Accounts ènd Reports) Regulatlons 2008 retywe u5 to repJrtto if. in our aplnlDn: the inforMat￿n in the statemtnts i5 rrunustent in any materkl rt5pect with th trustees, rewrt: or 5uflicient accounting recorts IAve N>t t*en ketrt.. c the finanual statements not in agreement with the account1￿ records: or we ha￿ noi received all the inform3trJn and expknw.ons we require lor ow wdii Re4)th1$5blWties oltru*lett As exrAained rn0￿ fully in the Trustees, ResF4)r6ibS1it*s Ststement set out in Trustee¢ Rewr¢ the trustee5 are responsible fDr the preparat￿Tr of the fftnandal ststements aTrl for being satIsf￿ that they 8fve a true and lair vicw, for wth intorr471 control as the trustees detsrmiAe 1$ necwary to eneble the PTeparatx>n of finanaal staternents thatare freefrom material mlsststern￿l whother due to fraud or error. IM prepaflrrf the fts)abThl stalemerTt5. the trust￿ are re5w>ns#>le for aSs￿￿n8 the ¢h•ity'$ 4bilKy ro wntinue as a goin8 ¢on¢ern, as applicable. matters re￿ted to wr41 Lonitrn and usin8 the 8oiry corKern basls of atcountlw unless the tru5t¢Q5 erfiher inteTrJ to Ikuldate the ch￿tty or tn cease opelatlons, or have no realisti¢ •lternatf4e but to do ￿. udws rwionslbllllles for the awlt of th• st*•rn We have been appointed as a￿&tOr under section 144 of the CharibEs Att 2011 aryl reporl In accordance wlth the Act and releYaTrt refiulatlons made or h¥*iweffert tl*reunéer. Our objertiVe5 I￿ to obtain reasonab￿ assThce èbwt whether the ftnanckl statements as a whole are freo fro>m m•terial M￿Statement, W￿ther due to fraud or error. and to issue av éuditorf5 report that includes our opinion. Rea50nJble assurance is a knl of awranEe but is ncrt a bwarantee that an audit conduaed In accwdance ￿1th ISA$11￿1 will thtert a IT￿al mi5sratement wl*n It￿515. Mlsstatements can arise from frJvd or and are CDfb5idered material rf, Indhktslfy or In the aggregate. tky C4Juld reasonably be exp•rted to 1n1fu￿ce the ecorth)ic decisxJ•)s ¢f users tsken on the b•515 Of thEso financial st*ement5. IT￿6vIori￿g$. includin8 fraud, are ￿startts of wnvcornpf￿n¢e with laws and rÈ8ulatiDny We design prKedures in line with our responslbllities, outlined above. to d￿ect material mis#atements in respea of Irregularftles. indtsdinÉ fraud. The emtert to which our p￿edUreS are Capab￿ of (kning iTreBularltles. IrKludln8 fraud ,5 detailed below. PaRe 10 THE GREENWICH CHARrrY OF WILLIAM HATCUFFE ANDTHE MISSES SMITH INDEPENDENT AUDITORS. REPORT TO THE TRiISTEES OF THE GREENWICH CHARITY OF WILUAM HATCLIFFE AND THE MISSES SMfTH We cbtained an undestan(firva of the leeJl and re8uktory framework applicable to the preparatSon of the finandal statements of the charity. and the procedures that management ad(yt to er￿Ure compliance. We have nsidered the extcrrt Iv which non-comp&ance might hwe a material effect on the f￿a￿la1 statements, and in partlcthaf we id•ntlfied: FR5 102. The Charlths Act 2011 and The Chanties SORP. We have als¢ identthd other law5 ￿Y￿at10￿that do rx)t have a dirE%t effett on thE arnouw5 or disdosures within the flnancial staternents, Ixrt for ¥&h￿h ¢omplarts Is fundamentsl to the ch3rttyoperat￿n5 aryj to a¥oSd materkl ron**s. Inc1￿lin￿ GDPI data protecoon reEulatths health and safery and landlortl aThJ Having re¥lewed th* laws aNI re8ulatth appkth tD the charity. we deswd and perForrned audit procedures to obtain Suf￿"ent appropriate auditthidence. SpecifKalty. Twe.. Solarted a team with se(Tor experience was Se￿cted cLvnpleting ihe 4uditr, Obtained an understanding ol thE charity'5 wocedures for trtsur1￿ Eumplian￿ with laws •nd e8ulatwns.' (X)taincd and reviewed internal pollcy and proLEthJredDcuments; Made enqulrles of mana4ernent and twmees regardlnÈ whether they )w•rE of any actual or 5U¥JCLtcd incidcncc5 01 non-¢ompliarKe wrth and re8ulatior&: Obtained revlewed meeting minuiE5,' Revkwoy legal expenses acc￿￿ts for indicationsof Jx)ssible noTrcurrbpknwKe: and Rev*wed the ojmpkn and ￿CUra￿ of any d￿re5 made h the lin)ncial Strt￿nents. We assessed the sus¢eptlbltr of the chriV5 financial statemerrts to material mi551atemen( includi conslderin8 fraud might Lxcur. Thi5 Va5 performed by. mak[￿ an assessment of the charws s)sEems & contro& inrlLXli￿ identsfywiB Jny weaknesses and considenrg risk of Tr,ana£emenro*rride ofu)ntrob: Conslderlr..g ￿there are any incenti￿$ or opwrtmes for man3¥ementto manipulats finanoal resulrs: OblaiNiTha eyakwting the tru5tee< asse￿Ment of the risk of fraud. and enquiring as to whether they were of any actual or su5￿ted fra￿. Revlewln8 accounliry FK)licie5 and accounting esrlmates lor slgns d management b"as.' Id2ntifyin¥ key risks rel￿1￿ to irre8u1aril￿ k£kndkn8 reder￿e reEDgn¢ion •TrJ manwent o¥errlde of contToI Re¥iewinB journal entries forsign5 of managemwt blas ￿ Ob*frf¢* ofcontrols. We then designed £udft procedures in rES￿nse to the risks h4enll￿d. induth8 wrforming wbst)ntive testi on all material income streans rv¥lEwi￿ ioumal entries for signs of rnanagernent bia5 or override of contro Th• audrt has been planned and pefvmed ￿ in 7Aith •Jthting standard4 howE¥ei. IYcau5e gf the inherent lim[￿lOn5 Ot aujit wocedures there rernain5 a risk rhaf we wlll nDt detect all kregularit*s. irduthing those that may LO niaterial mI￿tate1￿c￿lS in the financ￿1 sratÈmÈntL There pre inherent diffiojltles In detecting Irregularities. and irreBularirtes that result from fraud may be more difrirult to deted than irre￿Ilar*Ie9 Page JI THE GREENWICH CHARITY OF WIWAM HATCLIFFE ANDTHE MISSES SMITH INDEPENDENf AUDITORS. REPORT TO THE TRUSTEES OF THE GREENWICH CHARrrY OF WILUAM HATCUFFE AND THE MISSES SMITH that resull Iroth errtsr, for exarry>le due ro cO￿aLmen¢ ¢Nerride of contro15. collusion or mkrerKesentknns. In ddltls)n. the further rwoved nor*n5 15 from tr* e¥et)ts •xl tran5Xt¢or reflec￿1 in the financial ststemenrs. the less abdlt pmcedure5 are able to ￿rtIfY It. A fvrther desuiption of OUT responsibifftT'es Is a¥allab￿ on the Financial ReportlnE Cou￿11'S A4*bslte at: a￿hOrsreS onslbllltles. This description foms p¥r of ourauditor's report. Use 01*￿r report Thi5 report is made solely to the charws tntstees. as a Li)dy. in XEord4nce witb. Part 4 of the Charities (Accounts and Reportsl Regul￿0￿￿ ZI￿. I￿r work has been vndertakn 50 trAi we m*ht state to the tharitV& trustee5 those rnaiters we are requlred to state to them in audltor's report aTMI for no o purpose. To the fvlkst extent WTniued by jaw, we do Kcept tx assume responslblllty to anyone othei th)Th the charity Jnd the charIt￿$ trustees as a body, for our audit lor thts rep)rL or for thE opiniork5 we have forrn¢Yl. Lindqyer nas Feryuson U Chartered AcrL)untants and ststutt￿AudlIOrs North House 198 Hl8h Stre Tonwidrfe Kent TN9 18E Date: ... L4104J25_-......-.. Llndeyer Francis Fer8uson Lirnitd is ¢I￿lbIe to a(f a5 •n autlitof in tern￿ of Secti￿ 1212 Of the Compan￿5 Att 2￿6 Page 12 THE GREENWICH CHARrrY OF WILUAM HATCUFFE AND THE MISSES SMITH STATEMENT OF FINANCIALACTIVMES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Total 2024 Totol 2023 Funds Funds Plot• Inwme fr¢* DonatKJn$ InvestmEnt incorne charitsb￿ actTriities 168.0)) $2,618 75235 168.1 82,618 75.935 430.0(M) 49.315 73.692 326,553 326,5S3 553.007 ExwThlhure on: Raising fuTh* Charitable actlvithts 17224 136,752 17.Z24 136.752 16.984 135,321 153.976 153,976 152.305 Net gain on investments 124,187 L24,IB7 14.B311 Net Income Lthjre transfer5 296.764 296,764 395.871 Transfers betrjeen funds 1.04Cs N* in fvnds 295.n4 395.871 knconcillatkjn offtmds Funds at i Ortober 2023 13 770.132 31.955 2,801087 2.406,716 Funds at 30 SepteThthr2024 I,(￿5.856 3.098.851 2,801087 P4e 13 THE GREENWICH CHARftY OF WILUAM HATaiFFE AND THE MISSES SMrrH BALANCE SHEEr ASA T30 SEPTEMBER 2024 2024 2023 HousinE propen Invesimerrts 235.111 2,373,256 239,742 L798,294 2.608.357 2,038.D36 Current Debtors Caqh at and in h?r#l li 93.837 4L5,542 225,666 SS4.643 509J79 780.31J9 Credltors: amount5 fall￿ wlthln year 118m51 116.2581 Nrt current assets 4￿,484 764.051 3,098,851 2.802.087 The ftmds rfthe tharitr. Desl8natedknfids: Housing properttes lund Grant fund Repair fund General fund 235.1 10.0 2(Ml,(XK) 620,745 239.74Z io,r Totol unve5tricte41 furKIs 3.(￿5,￿56 1770.132 Tthal re5trfrt•d knd5 31995 31.955 Total Funds 3,098￿5] 2X)2.Q87 Approved by e Board of Tr￿tee5 on_ and signed on bthalf ￿. aimi*b (knktoth•T Paee 14 THE GREENWICH CHARITY OF WIWAM HATCUFFE AND THE MISSES SMITH STATEMENT OF C4SH FLOWS ASA T30 SEPTEM8ER 2024 2￿4 Cash flows frnm op¢r*ing athitle Net C15h provwjed by operating actsvitiES 251,345 22Z.782 Cash flows wNestlry acil¥itiÈ5: Dividends aTh4 intefest frNn invesrmert5 Purchèse oftsn*4e fixed assets Purchase of investments Proceeds frcyn sale r•firrrtstrnents 82,618 493lS { 212891 (49,22ZI 1377.1181 1408,3631 359.452 36D,646 et cash used in in￿ti￿ a¢tivit•es 42 147,6251 Chwe in c•th ￿ ush e•*rfalonts kn the 294(Q8 175,157 Cash and cash equlva￿nt5 at the beBlnnln8 ofthe 1.049.540 874,383 Cash and cash e4ui¥aants at th•qnd thl 1.343.548 1,049.540 A. Rtcontiliatlon 61 nrt to ne* cxh11ry4T from apva •¢tMtleJ Net incr)me for the year Dl*ldeThJs and interest from investmerts IGain511105ses on investmert5 Depreclatlon Lo55 on disposals of flxed assets Detiea5el lincr¢3sel in debtors Decr￿Se in creditors 296,764 182,6181 1124.1871 25.916 39S.871 149.315} 4,831 25.050 131.829 2.637 (156.7561 3.101 Nei ra511 provkjed by Dpemirg xtlvft1è5 251345 222.7112 Cash and (ash 4tyiwalonts atthe end altheyttr Cash at bank and In hand Cash held in Imiestrnent portfalo Ilth 101 415￿2 928,OD6 554,643 494.897 ¢•th aNI ¢xh equl¥alertS at th• ulthE yeaf 1,343548 1,049,540 P4e 15 THE GREENWICH CHARrrY OF WILLIAM HATCUFFE AND THE M155E5 SMrTri NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 51atus The Green￿(h Owrfty of Wllllam Hltclrffe aThJ thq Mysses Smiih Is a tharlry rqtste￿d wrth Charity Commis5K>n in England & Wa*& Its reKistered addre55 Trs PO Box 55. 151 Trafa*ar Road. Greenwth. london SEIO 91X Detè* OF its *fr¥it*s We gfiwi in the Trustses. Rewt. 11 Jas15 rfsYep•nllon The finènoal statements been prEp￿d urmler the hi￿orkal cort con¥ertion except for nvestrnent assets. whkh are shI￿n at fair ¥alue. The finaroal 5tatemems have been prepared In accord•nEe with the StatEment rA Recornmenile(I Practke.. AccountinR and Aeportng by Charit*s pariw their a¢counts in acttrfdaKe wlth the FIna￿al AeFTrOrtinB Standard appIl￿ts1e In the UK ar•J Republic ot Iftland IFRS 1021 1effLytv￿ l January 20191 fcharities SORP FPS 102,1, the Flnancial Repr*tin¥ Standard applicame in ￿ UK and tsf IreLand (TRS IOI'I. financlal statements we wesented sterfln£ rO￿ded tottr￿ nearest wund. Thè charftycortstttutes a publK benefft entity •5 dethed ￿ Flis 102. The trU￿eel conyder that d4* to reser*5 being hdd there are Th) material U￿ertaInt1¢s aLw)uttheTrusVs atllfty to conthK* asa galng conrerr There art nts svdnrfiom areas irfl￿d&9Menl or e￿lM￿￿)n ￿￿￿ta1ftty. The dorrnarrt parent comparry has taken ad¥anta8e of the e¥emptions under sertlon 405 of the COmpan￿S *£t Xfj6 and section 139 01 the Chariths Act 2011 nrt to prepare con501id*ed count5.The financ￿1 staterwts preserf inlormat*)n ab(xrt the ch¥ityonlv. Income Income Is retoyni5ed when the charty 15 enrithd to the Income. It be rellaNy measured and 15 probable thai It Y4ill be rttdved. Ihcome from don8￿r6 ￿lateS to Income from the Estste cha￿tY ol Wllllam Hat£iffE. TIMS is rEco8ni5ed when a formal offer is madE in writiry. Income from lett1￿$ represent5 ￿lIent< mafjntena￿e ￿nt￿l￿tIonS arKI 15 vecoKni5ed when rt falls kn. EXp￿dit￿ Expenditu￿ i5 Tecognised Wh￿ ihere Is a legal or construthve obllgation to tr*tsfer resources to a third party, settjemewrt 15 a￿1 the amosxht can be mEa5ured reliabty. PaEe 16 THE GREENWICH CHARITY OF WILLIAM HATaiFFE AND THE MISSES SMrrH NOTES TO THE FINANCIAL StATEMENTS FOR THE YEAR EbVDED 30 SEPTEMBER 2024 A¢(wnt1￿ pdkles {cc¥rtlN*dl 2A Value Add•d Twt The Ehirity ￿ ￿)t reyistered for Value Added Tax. In these finandal ststerncnts. where awAlcable. expendture is sfthkn I￿lusive of VAT. L5 IIou5ini proputies The 0ri8lnal cost of the AlmthDu5e5 is not known and a nomlnal value of £1 wa5 attributed to th￿rn ￿ 11 June 1984. The rernainin8 howw propErtie5 C05t reLite5 to improvements carrbed our Sir￿ tTrNit dote whlth were funded by a Hougn8 cOr￿rat￿n Grant and from the CharSty's own The chaNty has the use ofthe Amsh(wses uthrthe terrrs ofthe TTUSt Deed ofThe Estatt Charity of Willlam HatrlrfF¢. Ap¥rt from th¥t Trust t)eed there Is lease or at￿r doCu￿nt r@latinB to the char￿5 tenure. ThÈ Trusttts are ssti5fied that charity has s(tfficJent daim to the Almshouses as a fixed 35seL 11(w*As51xlatkn Grart A HousknKAssodation Grant of £32IY87 wa5 parl by the Housing Corporation towards the cest of development and ha5 been recognised as ]r￿Orne and addÈd to reser¥es. The gTrnt is repay•ble under certain orcbmstances. Phmarity follow•¥ ￿ sale of a prorerty bul 4Yill norrndlly b2 restrkted to the net procthls of sak. In view of the c¢n5tit¥rtion of tharrry. and of tenure of the properti￿. i% 518nificant Ilkelihood of a dlsrosal of tht propertie Depreoation is provlded on knprovemert5 to the hou* prnpenoe5 at rdies determlned lo wrtte down such Improvements over theli ￿lMate￿ttl￿6 75,935 73.692 PaBe 18 THE GREENWICH CHARITY OF WIWAM HATCUFFE AND THE MISSE5 SMrrH NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR EhlDED 30 SEPTEMBER 2024 Expaxiiu¥e on raSslrylur 2024 2023 Invertmem management fees 17.224 16,984 EMPe￿Il￿e on (th*it*e a¢J¥1Ues 2024 2023 Property ￿tting costs Property management fees Chrlstmas benevolence G￿nts to or¥ani5at￿ns Grants to Ir￿￿d￿a1s Depreciation CO irnpnmments to propertles Loss on disposal trl flxed as5Et Supp¢)rt costs 54.259 l¢i,f 56ts Is203 L6 3.222 25,916 7.109 25,050 Notè 8 34.492 31.544 136.752 135,321 Detail of grants to Drganisatk)ns are 61￿7 in the Trustees. Rep￿t. In PlEViQU5 year wJendirure of £Nil was from reStrk￿ fund> 2024 Clerk's fÈÈ, Bontss & Grant Adm￿￿9[ other costs Gowenx¥ncecosts.. Fees payable to a￿￿110r Fee5 payable to 3￿jitOrfOT other ser¥w- 4cc(rtmtarKy legal and professional fees 17.565 5.124 15.321 2.867 5XJL)O 1.6DU $2D3 7.476 34,492 31.544 Page 19 THE GREENWICH CHARrrY OF WILUAM HATCUFFE A￿￿ TIIE MISSES SMITH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Torylble flxed asséts Houikn8 Prtsp•rties- Alm5hr￿S Co At l Ortober X123 Additi￿0 the year Dismisals 792989 22.289 At 30 Septunber 2tr14 810,278 Deprfflatlon At I OEtober 2023 r8e for ihe ElimlThated on distmxal 553.247 25,916 13,996) At 30 Septembv 2024 575.167 Net B0okVal￿. At 30 september 2024 235.111 At 30 September 2023 239,742 PWZO THE GREENWICH CHARrrY OF WILUAM HATCLIFFE AND THE MISSES SMITh NOTES TO THE FINANaAL sfATEMEKf5 FOR THE Y£4R EhlDED 30 SEPTEMBER 2Q24 io Fix•d ass•t In¥estmèntS UK Loted Cosh held rotol inves¢ment portlo P*laTketvalue at l OctLkn 2023 AdditiorLS at £0St Disw5a15 at carpfjng ¥ok Irt0￿ment in cash bala￿t$ UnreaSised gaSn Dn revaluat L303,397 377.118 (357.0221 494.897 1.798294 377,118 1357JJZ21 433,109 111,757 433,109 121,757 ma￿et volue at 30 5ep¢ertJer 2024 1,445.250 928.(X 2,473,256 Disptrsals ￿Ude realwd gall￿ of £z.43012023: losses of É44991. De￿or5 Z024 X123 Accrued irKome Service charges receNabl 84,0 9.837 ZJ6.tNJo 9,666 93.837 225,b"66 12 Crt41torL" arnounts withkn oMyo¥ 2024 2023 Trade creditor5 Accrva15 and deferyed in￿nIe 3￿￿4 15,89L 1.167 15,091 18.895 16.758 Accruals and deferred irKfyne knclth resKlent contrkn recei¥Ed in advance ol El,869 120Z3: EI.452) Poze 21 THE GREENWICH CHARITY OF WILLIAM HATCUFFE AND THE MISSES SMrrH NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 30 SEP7EM8ER 2024 & gains /(losstsJ OL1023 It￿￿(e% Transfrrs 3th09.24 Unrtsbided fwKb Desi8nate41 lunds.. HOLFSY properties fthj Grant fund Repair fund Generdl fur 239.742 (253161 21.285 235.111 io.c 13,2221 3,222 2(KJ,O(Xl 1225.5471 lo.￿0 2LN).TrJO 2.620,745 2,$20,39 326.553 (651) Total unreslrtcted fvnd5 2,770,132 326553 129,789) 11,0401 3,065,856 Rotricted ft• 31,955 32.995 Tot41 lunds 2.802.087 326,553 129.789) 3,098,851 ResDurre5 Balance 30.0923 01.1022 rnsourres Ufftr•stslcted I￿￿1% Designated Hc4tsin8 propert*s fund Grant General fuTrJs 215.570 125.tI50) 49222 239,742 iO.IKKJ 2.149,731 17.109) 1124,977 7,109 157.3711 io.u 2,520.390 553,ryJ7 Tc>tal unrestrided funds 2,37s,aoi s53.￿7 1157.136 I I,o¢oi 2,770,132 Restrf(tedfund 30,915 31,955 Totsl fw 2.406.216 5S3,007 1157.1361 ?W.087 PWZZ THE GREENWIQI CHARrrY OF WILUAM HATCUFFE AND THE M155E5 SMITH NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30 SEPTEMBEA 2024 Funds {rortlrnMdl Deswwled Funds Ilouslng Ptv•fvNI The hougr¥ propertie5 fvnd repwesents the net tx>ok v* of leasetdd I￿￿5￿& propertie5 held for use 45 included In Note S. The annual th¥ge for depre0)t￿n ts allocated to thls fiK#l For any ￿ttIOnS to the t05t. of buildin85 15 a transfer io thi5 fund fiDffl th2 8enEral fund, Un￿55 con5•Yered exrraordin repalrs Iste below). GmntFutxI The Brant knd represents fund5 Set the w*ral Sn order to help those In nee(1 in the local cornmunity. wlth the aim Of keep*ii theii hol￿5. Transfers awdin51 General Funds have been Tnade in ￿th the turrent and prior year to ensure the kvel ol reserves kept In the 8rant fvrKI remains ai £lQ.l)Xl. The chartty has a restrlcted extraordinary repair fund 4$ outtsrnd bebw. The Board has aereed to de5i8natr in addiiional £2Q).Ix(I from ￿re$v￿le￿ fiJt¥Js for the same PWPD5e. Restri¢ted Fund The Exrraordinary repair fund Is esratrAlshed wler the Tnst tseed 8nd 15 maintained ftsr the purpJ$e ¢f Fxo¥fdin¥ for the extraordinary repair, inprownent Of rebiildéng of the hjrnshousès. The fund 15 rnairtsin￿ byan annual transfer of rKrt less than llJJ40 the urffe5trrted furnls of tw charlty. 14 ATr*lys15 al neta5xls bdweenfwKIs Totol Fimed assets rrent assets Current lia￿-1￿leS 235,111 zio.owxj 1373,256 266,384 118,8951 2.f4)8,367 509,379 118,8951 32,995 Net assets 445.111 2.620.745 32,995 3,098,8SI Page 25 THE GREENWICH CHARITY OF WILUAM HATCUFFE AND THE MISSES SMrrH NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED30 SEPTEMBER 2024 Total Fixed assels Current assets Currerbt liabilit 235.111 210,C 1.798,294 738JS4 2.038,036 780.3C6 116.2581 31.955 Nef ?55e 249,742 2.510.3 31.955 2.8D2,087 Is Rd¥t•d Party Tr¥n$4alo The E5tth ChHriry of Wiuvam Haidrffe is consmlered bytht trurtee5 to be a related party. Thls charity 15 ertitled to receNe one halt of the vearty inrome of that charlty. and the amounts recervable are Induded In dbtributil￿S as Note 3. kniounts due at the end of the y•ar are included accTued income in Note IL Thi8 charky also h35 the use ofthirtwi almStrK￿. wJth the 1wUrten￿￿$. on land $ituated on the rK)rth s¥J2 af Tuskar 5tW, Greenwlch. The freeknld title uf these propert*s 1% hp.ld ty that Cha￿tY ané the ten¥Ky Is sutyett to the paymerrt of the yearty sum of £9 to The E5tsit• Charrty of Wllliam HatclrfFe. The tnjstees are the charffjy's key manawnent per50nnel. During yew, no IrLAStees, r￿r pcrson ¢onnectsd to a tnjstee recerved any remuner*ion or beneffts w￿h1n ￿ star12023, Nill. Three trustees were r•rnbursed for expenses in¢urre4 t(*alling Él.7U5 12023.. £1261. These related to other costs. 16 Ultlmate p The charliy Dwned Ioty oW￿d ty Greenwkh %Vlllam Hatdlffe And Mi5se5 Smr¢h Tru51ee iimiiEd z company incory*)rawl in Erqknd and Wales INO 15483Y71. Their re8tstere4J Offi￿ 15 North House, 198 Street, Tonbrty. Keni. TN9 IBE, The purp)52 ufthe rDmwry 15 to retain the charity51radin8 name and there is Tro aCt•￿ty in the cOrn￿ny. Page 24