THE REST-HARROW TRUST Created b Deed dated 29th O¢tober 1964 istered Number: 238042 ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 INDEX Page Annual report Ito3 Report of the independent examiner Statement of financial activities Balance sheet Notes forniing part of the accounts 7tolO Grants payable 11 to 17 Investments and In￿Me received 18 Pag¢ I THE REST-HARROW TRUST Af4NUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2024 Th¢ trustees present their report for the year ended 5th April 2024. REFERENCE AND ADMINISTRATIVE DETAILS The Rest-Harrow Trust is a Regisl¢red Charity No. 238042. The Prin¢ipal office address is One Bartholomew Close, London ECIA 7BL. The Truste¢s who held office during the year were:. Mrs Janet Beryl Bloch Miss Judith Susan Portrait Mr Dominic Brendan Flynn The Professional Advisers of the Charity are as follows.. G N C D Stevenson FCA Knox Cropper LLP Office Suite I, Haslemere Hous¢ Lower Street Haslemere Surrey GU27 2PE INDEPENDENT EXAMINER.. BANKERS: Child & Co Bard(ers l Fleet Street London EC4Y IBD Schroder & Co Limited l London Wall Place London EC2Y SAU Cafcash Limited Kings Hill West Malling Kent ME19 4TA tNVESTMENf ADVISERS.. Cazenove Capital Management l London Wall Place London EC2Y SAU STRUCTURE, GOVERNANCE AND MANAGEMENT Legal Status and Constitutlon The Charity was ¢reated by Trust Deed dated 29th O¢lober 1961 and is registered with the Charity Commission No. 238042. Trustees Appointment and Tr#inlng The Trustee5 recniited and appointed as and when required by the remaining Trustees, often based on their professional backgrounds. New Trustees are inducted by the other Tn￿teeS and are encouraged to attend relevanl trnining courses where considered benefi¢ial. Page 2 THE REST-HARROW TRUST ANNUAL REPORT FOR THE YEAR ENDED 5TH APIUL 2024 (Continued) STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) M8nagem¢nt Arrangements The Trustees meet half yearly to monitor the activities of the Charity, including the investment perfornjances. The day to day administration of the Charity is undertaken by external professional firnis. Risk Management The Tn￿lee5 continually review th¢ major risks to which the ¢harily is exposed, in particular those rel&ted lo the finances of the charity and are satisfied that systems are in place to mitigate their exposure to major risk. The major risk of the charity is its investment portfolio risk, whi¢h is mitigated by biannual meetings with the Inveslrnent Managers. OBJECTS AND ACTIVITIES Objects of the Charity The object of the charity is the making of grants to charitable causes chosen by the trustees at their absolute discretion. Objectiv¢s for the Year The objectives for the year were: To Continue to make grants to charitable organisalions. To monitor the in¢ome of the charity whilst monitoring the financial markets. ACHIEVEMENT AND PERFORMANCE A¢bievement of ObJeetive5 and Publlc Benefit The Charity continued to provide grants to worthy organisations. In the year this amounted to 315 grants totalling £79,4￿ (2023.. £72,200}. This included many rnedi¢al and relief of poverty charities and these ar¢ disclos¢d in the Notes to the Accounts (pages I l - l7). Many of the organisations concerned are grateful to re¢¢ive the grants, and the Charity re¢¢ived many letters of thanks. In planning the activities for the year the Trustees have ref¢rred to the guidance contained in the Charity Commission's guidance on public benefit. In particular the Trustees considered how planned activities contribute to the aims and objectives of the Charity and are satisfied that this is the we. Grnnt Making Policies Grant applications are reviewed to ensure they comply with the requirements of the Charity and the Tr￿teeS authorise payment through a third party. Fundralsing The Charity does not undertake any fundraising activitie5. Page 3 THE REST-HARROW TRUST ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2024 (Continued) FINANCE REVIEW Results for the Year The Charity plans to expend its income on charitable donations. whilst keeping its capitsl inlact. In the year the Charity received donations of £59,059 and investment income of £43,897 and expended £114,072, resulting in net in¢orne for the p¢riod of £1,262 after Realised and Unrealised Gains on investments of £12.378. The Charity saw the rn￿ket value of invesknents in¢rease during the year to £1,043.936. Reserves Poliry The Trustees maintain sufficient reseryes in the Income Fund to meet expected direct charitable expenditure. The Capital Fund is invested to produce income for the In¢ome Fund. FUTURE ACTIVITIES Th¢ Charity will Continue to generate income to make grants to charitable bodies. STATEMENT OF TRUSTEES. RESPONSIBILITIES Law applicable to charities in England and Wales requires the Tru51¢es to preyare financial statements for each financial year which give a true and fair view of the state of ihe charity's finan¢ial activities during th¢ year and of its firHn¢ial position at th¢ end of the year. In preparing those financial statements, giving a tru¢ and fair view, the trusle¢s should follow best practice and.. select suitable accounting policies and apply them consistently. rnake judgements and estimaies thai are reasi)n&ble and prudent. slate whether applicable accounting standards have been followed subject to any material departur¢s disclos¢d and explained in the financial statements. prepare financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue to operate. The Tn]stees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable th¢m to ensure that the financial ststemenls omply with relevant legislation and the Irust deed. They are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the pr¢venlion and detection of fraud and other irregularities. BY ORDER OF THE TRUSTEES MRS J B BLOCH TRUSTEE Dated.. Page 4 THE REST-HARROW TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES I report lo the trustees on my examination of the accounts of the R¢st-Harrow Trust (the Trust) for the year ended 5th April 2024, which comprise th¢ Statement of Financial Activities, the Balance Sheet and re18ted notes. This report is made to the Tn]stees. Ls a body, in a¢¢ordan¢e with the terms of my engagem¢nt. My work has been undertaken so that I might carry out an Independent Exarnination of the financial statements in accordance with the Gen¢rdl Directions given by the Charity Commission. To the fullest extent pennitted by law, I do not accept or assume responsibility to anyone other than the Trust and the Trust's Trustees as a body for Eny work or for this report. Responslbilities and basls of report As the trustees of the Trust you are responsible for the preparation of the ac¢ounts in accordance with the requirements of the Charities Act 2011 ('Ihe ACV). I rewrt in respect of my examination of the Thist's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5Xb) of th¢ Act. Independent ex8mlner's statement I have ¢ompleted my examination. I confirni that no material matters have come to my attention in connectio with the examination giving me cause to believe that in any materia] respect: accounting re¢ords were not kept in respect of the T￿￿t as required by se¢tion 130 of the Act. or the a¢counts do not ac¢ord with those records. or Ihe accounts do not comply with the applicable requirements conceming the forni and cont¢nt of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is a matt¢r considered as part of an independent &xaTnination. I have no concerns and have corne a¢ross no other matters in connection with the examination to which attention should b¢ drawn in this report in order to enable a prop¢r understanding of ihe accounts to be reached. Office Suite I, HasleTnere House Lower Street, H￿Iernere Surreyy GU27 2PE Greg Stevenson FCA Knox Cropper LLP Chartered A¢counlants Page 5 oc co Page 6 THE REST-HARROW TRUST BALANCE SHEET AT 5TH APRIL 2024 2024 2023 Notes FIXED ASSETS- INVESTMENTS 1.043,936 1,020,450 CURRENT ASSETS Child & Co Bankers Schroder & Co Limited 26,151 28,648 34,587 36,138 54,799 70,725 CURRENf LIABILITIES 12,461 6.163 NET CURRENT ASSETS 42,338 64,562 NET ASSETS £1,086,274 £1,085,012 Represented by: UNRESTRICTED FifNDS Capital fund Income fund I,OM.490 41,784 1.042,397 42.615 £1.086,274 £1,085,012 The accounts set out on pages 5 to 18 are approved. . MRS J B BLOCH MISS J S PORTRAIT ) TRUSTEES . MRDBFLWN Dated.. Pag¢ 7 THE REST-HARROW TRUST NOTES FORMING PART OF THE AccouNrs FOR THE YEAR ENDED 5TH APIUL 2024 ACCOUNTING POLICIES #) Basis of Prep#ration and Assessment of golng concern The a¢counts have been prepared under the historical cost convention with the exception of investments which are included at market value. The finan¢ial statement5 have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financia] Reporting Stand8rds applicable in the UK and Republic of Ireland (FRS 102) (Second Edition issued in October 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ir¢land (FRS 102) and the Charities Act 2011. The a¢¢ounts have been prepared to give a 'tTue and fair view, and hav¢ departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'lrue and fair view,. This depatture involved following Accounting and Reporting by Charities preparing their accounts in accordan¢¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities St&tement of Recommended Practice effective from l April 2005 which has since be¢n withdrawn. The Charity constitutes a public benefit entity as defined by FRS 102. The Trustees consider that there are no material uncertainties about the Charity's ability to ¢oThtinue as a going concern. b) Funds The Capital and Income Funds represent the funds of the Charity that are not 5ubj¢ct to any restrictions regarding their use and are available for appli￿tIOn to the general purposes of the Charity- Funds designated for a particular purpos¢ by the Ch￿lty are uttrestricted. Restricted Funds are funds which are used in a¢cordanc¢ with specific restrictions imposed by donors or which have been rais¢d by the Charity for a particular purpose. c) Income All income is ￿cOgnised once the charity has entitlemenl to the income, it is probable that the in¢ome will be received and the amount of income receivabl¢ can be measured reliably. d) Expenditure Liabilities are r¢cogni5ed as expenditure as soon as there is a legal or constru¢live obligation cotnmitting th¢ eharity to that expenditure, it is probable that settlement will be required and the amount of the obligation ¢an be measured reliably. All expendiNre is auounled for on an aceruals basis. All expense5 including support costs and governance cO￿s are allocated or apportioned lo the appli¢able expenditure headings. e) Investments Investments are a fom of basi¢ financial investment and are initially recognised at their transaction value and subsequently measured at fair value ￿ at the balance sheet dal¢ using the closing quoted market price. The statement of financial activities includes the n¢t gains and losses arising on revaluations and disposais throughout the year. Page 8 THE REST-HARROW TRUST NOTES FORMINC PART OF THE ACCOUNTS FOR THE YEAR ENDED 5TH APIUL 2024 (Continued) ACCOUNTING POLICIES (Continued) e) Investments (continued) Realised gains and loss¢s on investments ar¢ calculated as the diff¢rence between sales pr￿eedS and their opening catrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between th¢ fair value at the year end and iheir ¢arrying value. Current Assets #nd Liabilities All kno1￿) Current assets are broughi into the accounts at the amounls which they are expe¢l¢d to realise. All known liabilities ar¢ brought into the accounts at their expected cost. 2024 2023 DONATIONS RECEIVED The REW Trust Mrs J B Bloch 19,975 39,084 21,502 62,080 £59,059 £83,582 RAlStNG FUNDS Investment Managers Fees £7,495 £7,739 2024 Capital Income Fund Fund 2023 Capital Fund Income Fund Total Totsl 4. CHARITABLE ACTIVITIES Direct Costs Grants to Charitsble Organisations (pages 11-17) Support Costs Deterniination Fees Governance Costs 79,400 79,400 72,200 72.200 3,741 20,646 3,741 23.436 3,402 15,344 3,402 18,002 2,790 2,658 £2,790 £103,787 £106,577 £2,658 £90,946 £93,604 5. GOVERNANCE COSTS Legal Fees Accountancy Fees 13,416 7,230 13,416 10,020 8,426 6,918 8,426 9,576 2,790 2.658 £2,790 £20,646 £23,436 £2,658 £15,344 £18,002 Page 9 THE REST-HARROW TRUST NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 {Continued) 2024 2023 INVESTMENTS (page 18) mark￿ value at 6th April 2023 Purchases Disp05als at market value Realised gainsl(losses) Unrealised gaIn￿[lOS$¢s) on revaluation 1.020,450 20,769 (9,661) (925) 13,303 1,116.926 20 (30,115) (2,645) (63,736) Market value at 5th April 2024 £1,043,936 £1,020.450 HistoricLi cost of investtnenls £895,741 £879,895 CURRENf LIABILITIES BDB Pitmans LLP Soli¢itors Knox Cropper Cazenove Capital Management 6,144 4,440 1,877 4,260 1,903 £12,461 £6,163 SUMMARY OF NET ASSETS BY FUND Unrestricted Funds 2024 Income Capital Total Investments Child & Co Bankers Schrixler & Co Limited 1,043,936 (721) 3,152 1,043,936 26,151 28,648 26.872 25.496 1,046.367 52,368 1.098,735 Current liabilities 1,877 10,584 12,461 £1,044,490 £41,784 £1,086,274 UNrestri£ted Funds 2023 In¢ome Capitsl Total Investments Child & Co Bankers Schroder & Co Limited 1,020,450 2,503 21.347 1.020,450 34,587 36,138 32.084 14,791 1,044,300 46,875 1,091,175 Current liabilities 1,903 4,260 6,163 £1,042,397 £42,615 £1,085,012 Page 10 THE REST-HARROW TRUST NOTES FORMING PART OF THE ACCOUNT FOR THE YEAR ENDED 5TH APRIL 2024 (Continued) TRUSTEES. REMUNERATION AND RELATED PARTY TRANSACTIONS Mr D B Flynn is a partner of BDB PitTnans LLP to whom fees of £13,416 including VAT {2023: £8,426) wer¢ paid for legal servi¢es No reimbursernent of expenses has been made or is due to be made to any of the trustee5 In respect of the year. Page 11 THE REST-HARROW TRUST GRANTS PAYABLE FOR THE YEAR ENDED sfH APIUL 2024 British Friends of the Hebrew University-student Scholarship Programme Pinhas Rutenberg Educational Trust Weizmann UK- for Making Conn¢ction5 Programtne ASG- A¢ademic Study Group Breast Cancer Now Cheltenham Ladies, College- for Bursaries Fund Jewish Blind & Disabled Jewish Care Jewish Child's Day- for therapeutic equipment Leukaemia & Myeloma Research UK Lilian Faithfull Care Nightingale Hammerson Ovarian Cancer Action Tuberous Sclerosis Association World Jewish Relief Wiener Library ABF- The Soldiers, Charity Action Medical Research Alzheimer's Research UK Asthma & Lung UK Bowel Research UK Brain Research UK Brain Tumour Charity British Heart Foundation Cancer Research UK CLAPA- Cleft Lip & Palate Association Cobalt Health Dystonia UK Familial Dysautonornia UK Fare Share Sussex & Surrey Friends of the Elderly Great Omond Street Hospital Charity Hot Line Meals Service Independent Age- Royal UK Beneficent A￿ociatiOn International Spinal Re8&irch Trust Jewish Deaf Association Kish8ron Lupus UK Macmillan Cancer Support Moorfields Ey¢ Charity Norwood Ohel Sarah UK Prevent Breast Cancer Prostate Cancer R¢s¢8rch Shaare Zedek UK Target Ovarian Can¢er Ability North London Able Child Africa 2.000 2.000 2,000 1.000 1,000 1,000 1.000 I,ooo 1,000 1.000 1.000 1,000 1,000 1,000 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 51>0 500 500 200 200 Carried forward 34,400 Page 12 THE REST-HARROW TRUST GRANTS PAYABLE FOR THE YEAR F,NDED 5TH APRIL 2024 (continued) Brought forward 34,400 Able Kidz Acid Survivors Trust International Acorns Children's Hospice Action for Kids Charitable Trust Action on Poverty- APT Age Concern Cheshire Age Concern North Norfolk Age UK Alder Hey Children's Charity Alex, the Leukodystrophy Charity Ambitious about Autism Amref Health Africa Anaphylaxis UK- for Helpline Anne Frank Trust UK APE- Art Play Environment Project Association of Wheelchair ChildrenlGo Kids Go Autisti¢ Minds BASICS Essex- Accident Rescue Service Be Free Young Carers Become- charity for children in care & young care leavers Bede Ho￿e Association BID Servi¢es- Birniingham's Deaf Community Blind Veterans UK Bone Cancer R¢search Trust Bowel Cancer UK Brain Tumour Support Break British Blind Sport British Deaf Association British Friends of Bar-llan University British Limblcss Ex-ServI￿ Men's A&8ociation British Liver Trust Calibre Audio Cancer Support UK Canon Collins Trust Care for Veterans Carers Trust Cavell Nurses. Trust Cerebra- for Sleep Support Service Challenger5 Chapter One- Online Reading Volunteers programme Cherry Trees Children's Air Ambulance Children's Heart Federation Children's Trust City Hospice 200 200 200 200 200 200 21)0 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 2110 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 Carried forward 43,600 Page 13 THE REST-HARROW TRUST GRANTS PAYABLE FOR THE YEAR ENDED 5TH APRIL 2024 (Continued) Brought forward 43.600 Clothing Solutions Combat Stress- for Peer Support Service Concern Worldwide Contact- Contact a Family County Air Ambulance Trust Crisis Cystic Fibrosis Tn]st DEMAND Demelza Hospice Care for Children Dementia Support Disability Advice Service (East Suffolk) Disability Africa Dogs for Good Dolphin Society Douglas Macmillan Hospice Dressability Earl Mountbatten Hospice Encephalitis Society ENYP- activities for young people in Norfolk Essex & Herts Air Ambulance Fight against Blindn¢ss Food Lifeline Framlingham Area Youth Adion Partnership Freedom from Torture Freedom Kit Bags Gl I Community Hub Gingerbread Go Beyond- prev. CHICKS Country Holidays for Inner City Kids Great Westem Air Ambulance Charity Guide Dogs for the Blind Asso¢iation Gurkha Welfare Trust Hampshire and 151¢ of Wighi Air Ambulance Hands around the World Headway- the brain injury association Health Poverty Action Heel and Toe Children's Charity Helen Ark¢ll Dyslexia Charity Help for Heroes Henshaw's Society for Blind People Hope and Homes for Children Hope for Justice- for medical &ftercare support Hospi￿ Care Kenya Hospice of St Francis Humanity & In¢lusionlHandicap Lntemational UK Individual T¢chnology Solutions for vision impaired wple 200 200 200 200 200 2UO 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 2110 200 200 200 Carri¢d fonvard 52,600 Page 14 THE REST-HARROW TRVST GRANTS PAYABLE FOR THE YEAR ENDED 5TH APRIL 2024 (eontinued) Brought fonwd 52,600 tNSIGHT- Counselling Coaching & Support Services Inter Care Jessie May Children's Hospice at Home Jigsaw Trust Just for Kids Law Katharine House Hospice, Banbury Katharine House Hospice, Siafford Keech Hospice Care Kirkwood (Hospi¢e) Lakelands Day Care Hospice Legg4Africa Lennox Children's Can¢er Fund Leonard Cheshire London's Air Ambulance Charity Magpas Air Ambulance Make Them Smile Children's Charity Manchester Jewish Community Care Martlets Hospi Mary Stevens Hospice Mast Cell Action Mencap Mercy Ships Microphihalmia, Anophthalmia & Coloboma Support Midlands Air Ambulanc£ Charity Motor Neurone Disease Association Muscular Dystrophy UK My Life My Choice Naomi House & Jacksplace- Wessex Children's Hospice Trust National Autisti¢ Society National Brain Appeal - for Rare Dementia Support Centre National Kidney Federation- for Helpline National schizopl￿¢n]2 Fellowship National Tremor Foundation New Isra¢l Fund Newlife the Charity for Disabled Children Nightingale Ho￿e H05Pi¢¢ Norfold Hospice Tapping House Nuneaton & North Warwickshire Equestrian Centre Oesophag¢al Patients Ass