Charity Registration No. 233121 THE HIBBERT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Yshawgibbs accountants & business (vIse[S
THE HIBBERT TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees James Chiriyankandath Catrin Davies Helen Mason Derek McAuley Mark Pearce Melanie Prideaux James Lister Croft (Appointed 26 June 20241 Charity number (England and Wales} 233121 Principal addres5 Essex Hall 1-6 Essex Street strand London WC2R 3HY Independent examiner Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ Investment advisors Redmayne Bentley 8-10 Victoria Avenue Harrogate HG1 1ED
THE HIBBERT TRUST CONTENTS Page Trustees, report Independent examiner's report ststement of financial activities Balance sheet Notes lo the financial statements 7-16
THE HIBBERT TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statement5 for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting Policies set out in note 1 to the financial statements and comply with the Trust's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Objectives and activities 1. The Hibbert Trust The objects of the Trust are lo apply the trust fund in such manner as the trustees think most conducive lo'.- the spread of Christianity in ils most simple and intelligible form., and the unfellered exercise of private judgement in matters of religion. The Case Fund The objects of the Case Fund are the promotion of free thought and the search after truth, the promotion of unfettered learning and frank ulleran¢e on matters ¢onne¢ted with religion or with the nature and development and highest culture of mankind. The Stephanie Saville Fund The objectives of the Stephanie Saville Fund encapsulate those of both the Hibbert Trust and the Case Fund. This allows the Trustees to allocate this fund lo further either sel of objectives and leads lo this fund being classified as unrestricted. The Trustees may award grants or olhetwise approve arrangements for purposes whi¢h are in accordan with these objects. Achlevements and performance Significant activities and achievements against objectives The trust received funding from investment income, enabling il lo support a variety of projects and individuals in furtherance of ils objects. The investments are managed by the Investment Managers and operate the portfolios on a discretionary basis. Grants lotslling £29,029 12024.. £25,600) have been aulhorised during the year, Grants of £13,750 were outstanding as at 31 March 202512024.. £19,500). The trust has continued lo explore how it might implement a repair and reparation policy arising from the origins of ils founding funds in a legacy from Robert Hibbert Junior, an owner of enslaved people of Jamaica. The trust also recognises the limitations on its actions resulting from its objects. The Trust is Investigating how il might leam more about the origin5 of the Case Fund. In 2023 the trust designated £200,000 and these funds are being held separately in a deposit account and any interest eamed is being added lo the balance of available funds. Flnanclal revlew ReseThes policy 11 is the policy of the Charity to relain sufficient funds to meet future commitments. Grants are only paid from funds in hand. If insufficient suitable applications for grants are received, the surplus is invested for future income generation or retained for future grant making.
THE HIBBERT TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 structure. governance and management The Hibbert Trust is Constituted as an unincorporated Charity under a trust deed dated 19 July 1847. The Trustees administer two other funds within the Hibbert Trust. The Case Fund established by the will dated 23 August 1880 of George Case and the Stephanie Saville Fund established by her will dated 30 June 2018. These are held as separate funds within the Hibbert Trust. The Stephanie Saville Fund and The Hibbert Trust Fund are both classified as unrestricted. The Case Fund is classified as restricted. The declaration of trust slates that there shall be al least three Iruslees. Every future trustee shall be appointed by a resolution of the trustees passed al a special meeting, and the benefits of each selection are lo be considered. The trustees are directed lo revise and reconsider al least once in Èvery quarter century any scheme thèy have adopted to carry the trust into effect. By his will George Case directed that the charitable fund estsblished by the will be transferred to the trustees of the Hibbert Trust. The Trustees who served during the year and up to the date of signature of the financial statements were.. James Chiriyankandath Catrin Davies Dorothy Hewerdine Helen Mason Derek M¢Auley Mark Pearce Melanie Prideaux James Lister Croft (Resigned 30 April 20251 IAppDinled 26 June 20241 Publlc beneflt The charitable activities for the year are in accordan with the Charity Commission's guidance on public benefit. The charity continues to provide grants subject to satisfactory application for funding within its charitable aims and objectives as explained above. Trustees responsibilities in relation to the financial statements The Iruslees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial stalemenls, the trustees are required to". select suitable accounting policies and then apply them Consistently", observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., stale whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial stslements,. and prepare the financial statements on the going concern basis unless il is inappropriate to presume that the Charity will conts'nue in operation. The Iruslees are responsible for keeping aecounling records that disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity IA¢counls and Reports) Regulations 2008 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
THE HIBBERT TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, report was approved by the Board of Trustees. Derek McAuley Trusteg 30 Jan 2026
THE HIBBERT TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HIBBERT TRUST I report lo the Trustees on my examination of the finanaal statements of The Hibbert Trust Ilhe Trust) for the year ended 31 March 2025. Responsibilities and basis of report As the Trustees of the Trust you are responsible for the preparation of the financial stslemenls in accordance with the requirements of the Charities Act 2011. report in respect of my examination of the Trust's financial stslemenls carried out under section 145 of the Charities Act 2011. In Carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records,. or the financial slalements do not comply wth the applicable requirements conceming the form and content of financial slalements sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial slalemenls give a true and fair view, which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination lo which attention should be drawn in this port in order lo enable a proper understanding of the financial slalements lo be reached. Samantha Daniels FCA For and on behalf of Shaw Glbbs Llmlted 264 8anbury Road Oxford OX2 7DY Date.. 30 Jan 2026
THE HIBBERT TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted Restrlcted funds funds Total Unrestrlcted Restrlcted funds fund$ as restated as restated as restated 2024 2024 2024 Total 2025 2025 2025 Notes Income and endowments from: Investments Other income 51,845 5,253 25,200 77,045 5,253 49,767 4,648 23,264 73,031 4,648 Total income 57,098 25,200 82,298 54,415 23,264 77,679 Expenditure on: Raising funds Charitable activities 8,368 30,792 4,148 18,338 12,516 49,130 8,155 21,074 4,008 11,882 12,163 32,756 Totsl expendlture 39,160 22,486 61,646 29.229 15,690 44,919 Net gainslllossesl on investments 11 147,1381 {16,5651 163,703) 19,9301 16,868 6,938 Net incomellexpenditurel and movement in funds 129,2001 113,8511 143,0511 15,256 24,442 39,698 Reconciliation of funds- Fund balances al 1 April 2024 1,507,049 790,083 2,297,132 1.491,793 785,641 2,257,434 Fund balances at 31 March 2025 1,477,849 776,232 2,254,081 1,507,049 790,083 2,297,132 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE HIBBERT TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2024 as reststed Notes Fixed assets Investments 13 1,892,392 1,986,295 Current assets Debtors Cash at bank and in hand 14 5,588 451,868 2,245 393,587 457,456 395,832 Credltors: amounts falllng due wlthln one year 15 195,7671 184,9951 Net current assets 361,689 310,837 Total assets less current liabilities 2,254,081 2,297,132 The funds of the Trust Restricted funds Unrestricted funds 16 17 776,232 1,477,849 790,083 1,507,049 2,254,081 2,297,132 The financial statements were approved by the Trustees on . .3n.J3n 2026 ?A4.A.l. Derek McAuley Trustee
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity inforniation The Hibbert Trust is an unincorporated charity. 11 is registered in England and Wales with charity registered number 233121. The principal address of the Charity is Essex Hall, 1-6 Essex Street, Strand, London, WC2R 3HY. 1.1 Basls of preparatlon The financial statements have been prepared in accordance with the Trust's governing document. the Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102.1 and the Charities SORP Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. Thè Trust is a Public Benefit Entity as defined by FRS 102. The Trust has tsken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial slalements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the ftjnctional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to indude rtain financial instruments at fair value. The principal awunting policies adopted are set out below. 1.2 Golng concern Al the lime of approving the financial slalernenls, the Trustees have a reasonable expectation that the Trust has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting In preparing the financial st8lemenls. 1.3 Charltablg funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Reslricled funds are subject to specific conditions by donors or grantors as to how they may k used. The purposes and uses of the restricted funds are set out in the notes to the financial slalements. 1.4 Income Income is recognised when the Trust is legally enlilled lo il after any performance conditions have been mel, the amounts can be measured reliably, and il is probable that income will be received.
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl 1.5 Expendltu Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, il is probable that a transfer of economic benefits will be required in selllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The c051s of each activity are made up of the lolal of direct cost5 and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated dire¢lly lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Fixed asset investments Fixed asset investments are initially measured al transaction price excluding transaction costs. and are subsequently measured at fair value al each reporting date. Changes in fair value are recognised in nel inme1(expenditLjreI for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call wth banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. 1.8 Flnanclal Instruments The Trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12 'other Financial Instruments Issues, of FRS 102 to all of ils finanaal inslrumenls. Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the conlraclual provisions of the inslrumenl. Financial assets and liabilities are offset, with the net amounts presented in the financial slatemenls. when there is a legally enforceable right lo set off the recognised amounts and there is an intenb'on to sellle on a nel basis or to realise the asset and setue the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price Including transaction costs and are subsequently catried al amorb.sed cost using the effective interest method unless the arrangement conslilules a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the fvture payments discounted at a market rate of interest. Financial liabilities classified as payable thin one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade ¢redilors are obligations lo pay for goods or services that have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classified as CLJrrent liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequenuy measured at amortised cost using the effective interest method.
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl 1.9 Taxatlon The Charity does not trade for tax purposes and hence is not liable to Corporation Tax on its surplus. Crltl¢al accountlng g$tlmatg$ and Judggmgnts In the application of the Trust's accounting policies, the Trustees are required lo make judgements. estimates and assumptions about the Carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and futurè periods. Income from Investments Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Income from listed investments Interest receivable 51,467 378 25,(0 140 76,527 518 49,550 217 23,176 88 72,726 305 51,845 25,200 77,045 49,767 23,264 73,031 Other Income Unrestrlcted Unrestrlcted funds funds 2025 2024 Bank interest 5,253 4,648 Expenditurg on raising funds Unrestrlcted R&strl¢ted funds funds 2025 2026 Total Unreslrlcted Rgstrlcled funds funds 2024 2024 Totsl 2025 2024 Investment management 8,368 4,148 12,516 8,155 4,008 12,163
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities Furtherance Furtherance of religious of religious projects and projects and learning learning 2025 2024 Direct costs 'Ministry in the Making, event costs Event and accomodation costs 11,125 550 7,395 1,127 11,675 8,522 Grant funding of adivities (see note 71 29,029 14,600 Shar9 of support and govornancg costs Is99 noto 81 Support Governance 1,647 6,779 3,930 5,704 49,130 32,756 Analysis by fund Unrestricted funds Restricted funds 30,792 18,338 21,074 11,682 49,130 32,756 10-
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Grants payable Furtherance Furtherance of rellglous of rellglous projects and projects and learning learning 2025 2024 Grants lo institutions.. Hans Le Grand- USA conference Ferhat Kafali academic work scholarship Elisabelh Pinchiera- conference attendance Science and Religion Forum - Conference sponsorship David Clough TRS Ra and Class Research Project Rev Chris Hudson- NSPCI and HMCO links HMCO- Digitslisation of The Inquirer D G Hamilton Judaism and Slavery Research Project General Assembly Unitarian and Free Christian Churches- oral history Unitarian College- Lay Leadership Fund Student Christian Movement ISCMI One Body One Faith - Interfaith Centre HMCO- Summer Research Institute Scholarships BASR - Conference Centre for Reconciliation - Interfaith Centre FEAST- Youth Project Black Lives Matter SNS individual grant Transformers 2,019 5,000 760 750 5,000 1,500 3,000 5,000 6,000 4,000 600 2,000 4,000 5,000 5,000 5,000 15,0001 {4,0001 12,0001 29,029 14,600 Support costs allocated to activities 2025 2024 Secretary & Fin Man Travelling Sundry Governance costs 1,870 1,292 768 5,704 1,214 432 6,780 8,426 9,634 Analysed between- Furtherance of religious projects and learning 8,426 9,634
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Independent Examiner's remuneration Fees payable lo the charity's independent examiner and associates.. 2025 2024 For independent examination Independent examination of the financial statements of the charity 3,030 2,704 For other services l other non-audit services 3,750 3,000 The Independent Examiners fee of £4,27012024.' £3,990) is included in lolal support costs. Part of this fee, £1,24012023'. £1,286) has been recharged lo the John Gregson Trust. 10 Employ99$ The average monthly number of employees during the year was.. 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than £60,000. 11 Galns and losses on Investments Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Gainslllossesl arising on". Revaluation of investments Sale of investments 147.8421 704 117,7321 1,167 165,5741 1,871 114,2501 4,320 14,521 2,347 271 6,667 147.1381 116,5651 163.703) 19.9301 16,868 6,938 12 Taxation The charity is exempt from laxalion on its activities because all ils income is applied for charitable purposes. 12-
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 13 Fixed asset investments Llsted Investments Cost or valuation At 1 April 2024 Additions Valuation changes Realised gain Disposals 1,986,295 62,374 165,5741 1,871 192,5741 Al 31 March 2025 1,892,392 Carrying amount Al 31 March 2025 1,892,392 Al 31 March 2024 1,986,295 2025 2024 Investments al fair value comprise.. Overseas equity funds Multi-asset funds Property ternalive ftjnds Fixed interest UK equity funds 667,094 238.055 157,133 305,470 357,117 167,523 671,301 240,752 162,907 334.035 401,992 175,308 1,892,392 1,986,295 14 Debtors 2025 2024 as restated Amounts falllng due wlthln on& year: Prepayments and accrued income 5,588 2,245 15 Crodltors: amounts falllng du9 wllhln one year 2025 2024 as restated Other creditors Accruals and deferred income 85.649 10,118 74,412 10,583 95,767 84,995 13-
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 16 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as lo how they may be used. At 1 April 2024 Incoming resources Resources expended Gains and At 31 March losses 2025 Case Fund 790,083 25,200 122,4861 116,5651 776,232 Prevlous year: At 1 Aprll 2023 Incomlng r&sourc8s Resources expended Galns and At 31 March lossas 2024 Case Fund 765,641 23,264 115,6901 16,868 790,083 The Case Fund is restricted for the purpose of the promotion of free thought and the search after truth, the promotion of unfettered learning and frank utterance on matters connected with religion or with the nature and development and highest culture of mankind. 17 Unrestricted funds The unrestricted funds of the charty comprise the unexpended balances of donations and grants which arè not subject to specific conditions by donors and grantor5 as lo how they may be used. These Include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. At 1 April 2024 Incoming resource5 Resources expended Gains and At 31 March 105ses 2025 Hibbert Reparation Fund General funds 204.344 1,302,705 4,888 52,210 209,232 1,268,617 139,1601 147,1381 1.507.049 57,098 139,1801 147,1381 1,477,849 Previous year: At 1 April 2023 Incoming resources Resources expended Gains and At 31 March losses 2024 Hibbert Reparation Fund General funds 200.000 1,291,793 4,344 50,071 204,344 1,302,705 129,2291 19,9301 1,491,793 54,415 129,2291 19,9301 1,507,049 The Trustees have sel aside the Hibbert Reparation Fund. The Trustees agree that they musl find ways lo make reparations for the Trust's wnneclion wth slavery, in the context of fulfilling their legal obligation to the remit of the Trust. 14-
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 18 Analysis of net assets between funds Unrestrlcted funds 2025 Restrlcted funds 2025 Total 2025 At 31 March 2025: Investments Current assetsllliabililiesl 1,264,946 212,903 627,446 148,786 1,892,392 361,689 1,477,849 776,232 2,254,081 Unrestricted fund$ 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Investments Current assetsllliabililiesl 1,323,827 183,222 662,468 127,615 1,986,295 310,837 1,507,049 790,083 2,297,132 15-
THE HIBBERT TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 19 Related party transactions Transactions with related parties None of the trustees were paid remuneration by the Charity during the year12024'. nill. For adminislralive purposes, all of the bank transactions of the John Gregson Trust are undertaken by the Hibbert Trust. This results in an amount due to or from the Hibbert Trust. That amount at the year end is £71,898 due from the Hibbert Trust 12024.. £54,910). Al of the trustees of the John Gregson Trust are also trustees of the Hibbert Trust and vice versa. Administrative costs of the Hibbert Trust are incurred in common with the John Gregson Trust. The Hibbert Trust charges an appropriate amount to the John Gregson Trust annually. The amount for the current year is £5,51512024.' £3,154). During the year 5 truslees12024.' 61 were reimbursed expenses of £1,491 12024.. £2.3021 to cover travel costs to meetings and small items of expenditLJre made on behalf of the Hibbert Trust. These amoLJnts are included in the accounts of the Hibbert Trust. During the year the trust paid a £4,000 grant lo the Unitsrian College. The Unitarian College has a common trustee wlh the Hibbert Trust, and one senior employee who is also a trustee of the Irusl. 20 Prlor year adjustments The prior year adjustments within these accounts is lo correct the fund balances for the Trust which is as follows.. Restricted funds were previously stated as £1,707,633 and are now restated as £790,083. Unrestricted funds were previously stated as £589,499 and are now restated as £1,507,049. This is due to The Hibbert Trust Fund being reclassified from a reslricled fund to an unrestricted fund. Thè Trustees are In agreement that The Hibbert Trust Fund should be Irealed as unrestricted as the fund is used for genèral purposes in line wth the Trusts, objective being 'lhe spad of Christianity in i(s most simple and intelligible form,. 16-