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2024-04-05-accounts

CHARITY NUMBER 233921

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

INDEX TO REPORT AND FINANCIAL STATEMENTS

Trustees’ report 1 - 5
Independent Auditor’s Report to the Trustees of The Hawthorne Charitable Trust 6 - 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 17
Donations to charitable institutions and for charitable purposes 18 - 20

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024

The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Charity’s Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice: applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trust is an unincorporated trust, established under a trust deed dated 11 March 1964 and is a registered charity, number 233921. Under the Trust Deed the Trustees are to distribute the income and may distribute the whole or any part of the capital, to such charitable institutions or purposes as they shall in their absolute discretion determine. The Trustees particularly aim to support charities in the Hereford and Worcester areas. The Charity received a large donation in 1964 from Mrs OMQ Berington to set up this Trust. The Trustees who have served during the year and since the year end are set out on page 3. The power of appointing new or additional Trustees is vested in the Trustees. Trustees are forwarded updates from the Charity Commission and professional advisors.

RISK MANAGEMENT

The Trustees have considered the major risks to which the Trust is exposed and have reviewed those risks and established procedures to manage those risks. The major risks to which the Trust is subject, like any other investor, is the risk that investments will not do well. The Trustees guard against this risk by having a widely diversified equity and unit trust portfolio and by having a proportion of the funds in British Government securities.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The objects of the Trust are to apply the income, and also any part of the capital as the Trustees think fit, for or towards such charitable institutions or purposes as the Trustees shall from time to time determine. The Trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aim and objectives and in planning future activities and in setting the grant making policy for the year.

PROCEDURES AND POLICY FOR GRANT MAKING

The Trustees meet annually to approve the annual financial statements and consider distributions; otherwise decisions are taken in correspondence or by telephone. The Trustees have developed a fairly substantial list of charities who are supported on a regular basis, but new proposals both regular and special are considered at each meeting and acted upon accordingly. The administrative resources are very limited and for this reason the Trust has always made it clear that grants to individuals cannot be considered. In the year to 5 April 2024 a total of £187,754 (2023: £225,000) was distributed to various charities, full details of which are given on pages 18 to 20. Also during the year, 3 grants amounting to £9,250 relating to a previous year were cancelled (2023: £500). The Trustees review the grant making policy annually to ensure it reflects the charity’s objects and thereby advances public benefit.

ACHIEVEMENTS AND PERFORMANCE OF TRUST

The objective of the Trust is to distribute its net income after governance costs to charitable bodies which will make good use of what they receive. It continues to be the policy of the Trustees to distribute all the available income within a reasonable period of its receipt and not to build up a large amount of undistributed income, thus at 5 April 2024 the balance of undistributed income fund was a surplus of £88,420 (2023: £84,099).

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024

FINANCIAL REVIEW

The Trust’s income consists of dividends and interest which amounted to £243,549 (2023: £210,706) and charitable grants paid were £178,504 (2023: £224,500).

INVESTMENT POLICY

The Trustees’ policy on listed investments is to obtain a good rate of return, commensurate with security of capital. Details of movements are given in note 6 to the financial statements.

RESERVES POLICY

Total income, subject to governance costs, is available for charitable purposes and has been used accordingly. In these circumstances the Trustees see no point in creating and maintaining financial reserves, although they consider it prudent to maintain a small balance to cover any unexpected events. At 5 April 2024 the Endowment Fund was £11,807,310 (2023: £10,682,289) which is held to generate investment income (though it is permitted to be spent). At 5 April 2024 the Income Fund surplus was £88,420 (2023: £84,099).

FUTURE PLANS

The Trustees have no plans to change the way the Trust operates.

RELATED PARTIES

Mr R White, an acting Trustee of The Hawthorne Charitable Trust, serves as a consultant at RSM UK Tax and Accounting Limited providing administrative and accounting functions to the Trust. Further information is given in note 11 on page 17.

AUDITOR

The auditor Harrison Hill Castle & Co is deemed to be reappointed under Section 487(2) of the Companies Act 2006.

_______________ - 2 -

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024

LEGAL AND ADMINISTRATIVE INFORMATION

Particulars of Trustees in the year ended 5 April 2024:

Alexandra Susan Caroline Berington Roger Jackson Clark Richard White Thomas Patrick Monsanto Berington

PRINCIPAL OFFICE

RSM UK Tax and Accounting Limited Chartered Accountants Third Floor Priory Place New London Road Chelmsford CM2 0PP

SOLICITORS

Withers LLP 20 Old Bailey London EC4M 7AN

BANKERS

CAF Bank Limited 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ

AUDITOR

Harrison Hill Castle & Co Melbury House 34 Southborough Road Bickley, Bromley Kent BR1 2EB

INVESTMENT ADVISERS

Rathbones Quilter Cheviot 8 Finsbury Circus Senator House London 85 Queen Victoria Street EC2M 7AZ London EC4V 4AB

INVESTMENT POWERS

Under Clause 4 of the Trust Deed dated 11 March 1964 the Trustees have wide powers of investment.

_______________ - 3 -

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to 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 those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the requirements of the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITOR

The Trustees who are in attendance on the date of approval of these financial statements, have confirmed that, as far as they are aware, there is no relevant information of which the auditor is unaware. Each of the Trustees has confirmed that they have taken all the steps that ought to have been taken as Trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

_______________ - 4 -

31/01/25

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE HAWTHORNE CHARITABLE TRUST

Opinion

We have audited the financial statements of The Hawthorne Charitable Trust (‘the charity’) for the year ended 5 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE HAWTHORNE CHARITABLE TRUST (CONTINUED)

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

The auditor’s objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes the auditor’s opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with International Standards on Auditing (UK) (ISAs (UK)) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE HAWTHORNE CHARITABLE TRUST (CONTINUED)

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

The extent to which the audit was considered capable of detecting irregularities including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

To address the risk of fraud through management bias and override of controls, we:

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE HAWTHORNE CHARITABLE TRUST (CONTINUED)

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities.

This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

P R Castle (Senior Statutory Auditor) For and on behalf of Harrison Hill Castle & Co Chartered Accountants Melbury House, 34 Southborough Road Bickley, Bromley, Kent BR1 2EB

31/01/2025

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2024

Notes
Income from:
Investments
2
Total
Expenditure on:
Raising funds
3
Charitable activities
4
Total
Net gains/(losses) on
investments
6
Net income/(expenditure) for
the year and net movement
in funds
Total funds at 6 April 2023
Total funds at 5 April 2024		 Income
Funds
2024
£
Endowment
Funds
2024
£
Total
2024
£
Total
2023
£
243,549
-
243,549
210,706
243,549
-
243,549
210,706
-
70,053
70,053
68,457
239,228
-
239,228
296,068
239,228
70,053
309,281
364,525
-
1,195,074
1,195,074
(1,095,617)
4,321
1,125,021
1,129,342
(1,249,436)
84,099
10,682,289
10,766,388
12,015,824
88,420
11,807,310
11,895,730
10,766,388

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

BALANCE SHEET

AS AT 5 APRIL 2024

AS AT 5 APRIL 2024
Notes
FIXED ASSETS:
Listed investments
6
Cash with stockbrokers
Quilter Cheviot
Rath bones
CURRENT ASSETS:
Debtors
7
Cash at bank:
GAF
Cash with stockbrokers:
Rath bones
Quilter Cheviot
CREDITORS: Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL NET ASSETS
THE FUNDS OF THE CHARITY
Income Fund
9
Endowment Fund
9		 2024
£
11,785,433
31,423
13,126
11,829,982
13,267
104,415
3,664
1,528
122,874
(57,126)
65,748
11,895,730
88,420
11,807,310
11,895,730		 2023
£
10,572,480
43,980
83,262
10,699,722
8,138
108,053
6,050
122,241
(55,575)
66,666
10,766,388
84,099
10,682,289
10,766,388

The financial statements on pages 8 to 18 were approved by the Trustees and authorised for issue on .31/01/25 and signed on its behalf by:

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-11-

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

LEGAL STATUS

The Hawthorne Charitable Trust is an unincorporated charity registered in England and Wales. The principal address is Third Floor, Priory Place, New London Road, Chelmsford CM2 0PP.

The charity’s objectives and aims are disclosed in the Trustees report.

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention, as modified for the inclusion of fixed asset listed investments at market value. The financial statements have been prepared in accordance with the Charities Act 2011 and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The financial statements are presented in Sterling which is also the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following Accounting and Reporting by Charities preparing these accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

GOING CONCERN

The Trustees consider the use of the going concern basis of accounting is appropriate because the Trustees have the option to sell investments and realise the cash if required and there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the Trust to continue as a going concern.

INVESTMENT INCOME

Income is accounted for on a receivable basis. Income from the Endowment Fund is unrestricted.

FIXED ASSET INVESTMENTS

Investments are included in the balance sheet initially at transaction value and subsequently recognised at their fair value at the end of the financial period, which is the bid price quoted on a recognised stock exchange. Realised and unrealised gains are credited or debited to the Statement of Financial Activities in the year in which they arise.

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

FINANCIAL INSTRUMENTS

The Trust only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, other than fixed asset listed investments, are initially recognised at transaction value and subsequently measured at their settlement value.

FUNDS

Unrestricted funds can be used in accordance with the Trust’s objectives at the discretion of the Trustees.

Restricted funds comprise monies where a restriction has been placed on their use by a donor (for a purpose which falls within but is narrower than the general charitable objective). These funds are distributed in accordance with the terms of the applicable restriction.

EXPENDITURE

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise those costs directly attributable to managing the investment portfolio and raising investment income.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit and accounting fees and costs linked to the strategic management of the charity.

Costs of charitable activities comprise all expenditure directly relating to the objects of the charity. Support costs relating to the charitable activities have been allocated on a direct basis.

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

2
Income from investments
Dividends – equities managed by Quilter Cheviot
Dividends – equities managed by Rathbones
Other interest

3
Raising funds
Investment management fees -
Quilter Cheviot
Rathbones
4
Charitable activities
Governance costs:
Accountancy and administration including VAT
Audit fees
Bank and other charges		 Unrestricted
2024
2023
£
£
146,481
131,614
94,329
77,743
2,739
1,349

243,549
210,706
Restricted
2024
2023
£
£
40,820
39,955
29,233
28,502

70,053
68,457
Unrestricted
2024
2023
£
£
56,373
67,207
4,200
4,200
151
161


60,724
71,568

During the year, grants of £187,754 (2023: £225,000) were payable to various institutions. Also, during the year, three grants amounting to £9,250 issued in 2022 were cancelled (2023: £500 issued in 2021). Full details of recipients and amounts are shown in the schedule of donations on pages 18 to 20.

5 Employees

The Trust had no paid staff in the current or prior year, including the Trustees. The Trustees are considered to be the key management personnel of the Trust. No Trustees were reimbursed for any expenses in the current or prior year.

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

2024 2023
6 Listed fixed asset investments £ £
Investments at fair value 6 April 2023 10,572,480 11,770,542
Additions 2,225,202 2,635,603
Disposals (2,207,323) (2,738,048)
Revaluations 863,262 (1,567,702)
Net profit on disposal 331,812
 472,085
Investments at fair value 5 April 2024 11,785,433 10,572,480
2024 2023
£ £
Analysis of investments between classes at fair value:
UK fixed interest securities 534,860 519,096
Equities managed by Quilter Cheviot 7,066,349 6,130,146
Equities managed by Rathbones 4,184,224
 3,923,238
11,785,433 10,572,480

All gains and losses are taken to the Statement of Financial Activities as they arise and are included within the endowment fund. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening fair value (purchase date if later). Unrealised gains and losses are calculated as the difference between the fair value at the year end and opening fair value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.

If the above listed investments were stated at historic cost basis instead of fair value basis, the carrying value would have been £8,604,589 (2023: £8,254,898).

2024 2023
7 Debtors £ £
Sundry debtors 13,267 8,138

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

8
Creditors: Amounts falling due within one year
Auditors charges
Accountancy charges
Investment management charges
Donations
Other creditors
 2024
£
4,200
20,655
18,171
11,600
2,500
57,126
 2023
£
4,200
11,878
17,247
19,750
2,500

55,575
9
Movements
in funds –
current year
Endowment
Fund
Income Fund
Total
unrestricted
funds
Movements
in funds –
previous year
Endowment
Fund
Income Fund
Total funds		 At 6 April
2023
£
10,682,289
84,099

10,766,388
At 6 April
2022
£
11,846,363
169,461

12,015,824		 Income
£
Expenditure
£
Investment
and
exchange
losses
£
-
(70,053)
1,195,074
243,549
(239,228)
-



243,549
(309,281)
1,195,074
Income
£
Expenditure
£
Investment
and
exchange
gains
£
-
(68,457)
(1,095,617)
210,706
(296,068)
-



210,706
(364,525)
(1,095,617)		 At 5 April
2024
£
11,807,310
88,420

11,895,730
At 5 April
2023
£
10,682,289
84,099

10,766,388

There are no specific restrictions on the use of the Endowment and Income Funds, apart from the furtherance of the charity’s aims.

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

10
Analysis of net assets
between funds –
current year
Listed investments
Cash & debtors
Creditors
NET ASSETS
Analysis of net assets
between funds –
previous year
Listed investments
Cash & debtors

Creditors
NET ASSETS		 Income
Funds
2024
£
Endowment
Fund
2024
£
Total
2024
£
-
11,785,433
11,785,433
122,874
44,549
167,423
(34,454)
(22,672)
(57,126)



88,420
11,807,310
11,895,730
Income
Funds
2023
£
Endowment
Fund
2023
£
Total
2023
£
-
10,572,480
10,572,480
122,241
127,242
249,483
(38,142)
(17,433)
(55,575)



84,099
10,682,289
10,766,388

11 Related party transactions

RSM UK Tax and Accounting Limited, a firm in which Mr White is a consultant, was instructed by the Trustees to perform the administrative and accounting functions of the Trust and received professional fees totalling £56,373 (2023: £67,207). At 5 April 2024, £20,655 (2023: £11,878) was owing to RSM UK Tax and Accounting Limited and is included within accruals.

During the year, a donation of £10,000 (2023: £7,500) was made to Southern Thailand Elephant Foundation, a charity in which Mr Clark is a Trustee.

12 Taxation

The Hawthorne Charitable Trust is a registered charity and, as such, its income and gains falling within section 521 to 536 of the Income and Corporation Taxes Act 2007 or Section 252 of the Taxation of Chargeable Gains Act 1992 are exempt from tax to the extent that these are applied to its charitable objectives.

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

SCHEDULE OF DONATIONS

FOR THE YEAR ENDED 5 APRIL 2024

Grants to institutions caring for people with
disabilities
British Wireless for the Blind Fund
Canine Partners for Independence
Dog A.I.D.
Elizabeth FitzRoy
Hearing Dogs for Deaf People
National Star
Shelley Centre
Thriftwood School
Grants to institutions for medical, health and
sickness
Acorn Children’s Hospice Trust
Action for Family Carers
Alzheimer’s Research Trust
Alzheimer’s Society
Anthony Nolan Bone Marrow Trust
British Red Cross Association
Cancer Research UK
Combat Stress
Different Strokes
Dusty Yak Foundation
Farleigh Hospice
Global Natural Healthcare Trust
MacMillan Cancer Relief (Worcestershire Branch)
Maggie’s Cheltenham
Maggs Day Centre
Motor Neurone Disease Association
Pancreatic Cancer
Royal Society for Blind Children
Sight Concern
St Michael’s Hospice, Hereford
St Richard’s Hospice
The Stroke Association
Versus Arthritis		 2024
No
Value
£
1
1,000
1
3,000
1
2,500
1
2,500
1
2,500
1
1,500
1
2,000
1
500


8
15,500


1
1,500
1
1,500
1
2,500
1
2,500
1
2,500
1
2,500
2
3,000
1
3,000
1
2,000
1
2,000
1
2,000
1
1,000
1
3,000
-
-
1
3,000
1
2,000
1
2,000
1
1,500
1
2,000
1
4,000
1
4,000
1
2,500
1
2,000


23
52,000

 2023
No
1
1
1
1
1
-
1
-

6

1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1

22
 Value
£
1,000
3,000
2,500
2,500
2,500
-
2,000
-

13,500

1,500
1,500
2,500
2,500
2,500
2,500
2,500
3,000
2,000
-
2,000
2,000
3,000
500
3,000
2,000
2,000
1,500
2,000
4,000
4,000
2,500
2,000

51,000

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

SCHEDULE OF DONATIONS

FOR THE YEAR ENDED 5 APRIL 2024

Grants to institutions caring for animals
Battersea Dogs & Cats Home
Blue Cross (DD)
Prickles Hedgehog Rescue
Remus Memorial Horse Sanctuary
Southern Thailand Elephant Foundation
Grants to institutions for relief of poverty
Addington Fund
The Passage
Grants to institutions for environment, conservation
and heritage
Compassion in World Farming Trust
Friends of the Public Gardens (Braintree)
Hereford Cathedral Perpetual Trust
Malvern Festival Theatre Trust Limited
Museum of Royal Worcester
Plant Heritage (previously National Council for the
Conservation of Plants and Gardens)
The Society of Friends of Little Malvern Priory
Wichenford Millennium Green Trust
Woodland Trust
Worcester Cathedral Development & Restoration Trust		 2024
No
1
1
1
1
1

5

1
1

2

1
1
1
1
1
1
1
1
1
1

10
 Value
£
2,000
1,000
750
5,000
10,000

18,750

1,500
2,000

3,500

3,000
1,500
2,500
2,500
2,000
2,000
3,500
5,000
1,000
2,000

25,000
 2023
No
1
1
1
-
1

4

1
1

2

1
1
1
1
1
1
1
-
1
1

9
 Value
£
2,000
1,000
500
-
7,500

11,000

1,500
2,000

3,500

3,000
2,500
2,500
2,500
2,500
2,000
3,500
-
1,000
2,000

21,500

THE HAWTHORNE CHARITABLE TRUST (DATED 11 MARCH 1964)

SCHEDULE OF DONATIONS

FOR THE YEAR ENDED 5 APRIL 2024

Grants to other charitable institutions
Barnardos
Birmingham Royal Ballet
Disasters Emergency Committee
Endeavour School, The (Brentwood)
Evergreen Care Trust
Friends of the Elderly (Davenham & Perrans House)
Hanna Hemmets
Hospice Care Kenya
Little Malvern Priory
Longford Trust
Lord’s Taverners
Malvern Sea Cadets
Malvern Youth Community Trust (Malvern Cube)
Midland Air Ambulance
Perennial – Gardeners’ Royal Benevolent Society
RNLI
Sparrow School Educational Trust
Soldiers Charity
SSAFA Worcestershire Branch
St Andrew’s Club
Stisted Parish Council
Stisted School
Stisted Church PCC
South Worcestershire Citizens Advice
The Listening People
The Salvation Army
The Samaritans Colchester Branch
The Samaritans Worcester Branch
Three Choirs Festival
Ukraine Couple
Water Supplies in the Ukraine
TOTAL		 2024
No
Value
£
1
1,500
1
1,500
-
1
1
-
2,000
1,000
1
2,500
1
1,315
1
2,500
4
10,439
1
2,500
1
3,000
1
1,500
1
1,500
1
5,000
1
1,500
1
3,000
1
2,500
1
2,500
1
3,000
1
3,000
1
4,000
1
500
1
2,250
1
1,500
1
3,000
1
3,000
1
2,000
1
2,000
1
1,000
-
-
1
2,000


32
73,004


80
187,754		 2023
No
Value
£
1
1,500
1
1,500
2
1
-
75,000
2,000
-
1
2,500
-
-
1
2,500
-
-
1
2,500
2
3,000
1
1,500
1
1,500
1
5,000
1
1,500
-
-
-
-
1
2,500
1
3,000
1
3,000
-
-
-
-
1
1,500
1
1,500
1
3,000
1
3,000
1
1,500
1
2,000
1
1,000
1
2,500
-
-


25
124,500


68
225,000