Chartty number: 239044 HOWARD DE WALDEN HOSTEL CHARITY TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HOWARD DE WALDEN HOSTEL CHART CONTENTS P898 Refor•n and admlnlstratlv• d•taSls of the Charity. its Trustees and adviser• Tee5. report Indgpgndent examlnerfs report Statém•nt olflnanelal aetlYltl•s Balan¢• $h••t Notes to the financlal statem•nts 8.18
HOWARD DE WALDEN HOSTEL CHARITY REFERENCE AND ADmINIsTRATP DETAILS OF THE CHARfTY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustegs Mrs J I Swlrn, Chairrn Mrs M D J Smith Mrs E R Oeane Mr S M Rirg. Treasurer Rev B Reed Mrs C Smilh Charlty reglst•r•d number 239044 Prlnelpal offl¢• 176 Tonbrid9e Ro•J aidstone Kent ME168ST S•cr•tary Mr5 E R Deane Ind•p•nd•nt Ex•mln•r D CTart BS¢ BFP FCA MHA Victorla Ccyjrt 17-21 AShId R¢)ad Maidslon¥ Kent ME14 5DA Bankers National Westminsler Bank PIC 3 High Street M8idslone Kenl ME14 1XU Page 1
HOWARD DE WALDEN HOSTEL CHARtrY TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present thoir annual report together th tho financial slatem&nts of the Charity for the l April 2023 to 31 March 2024. The finanGal staternents have ba$n prepared in acc(dar the accounting p(Aicies set out in note 1 to the rinanrial slalements and corny thè Charitrfs trust deed. the Charities Act 2011 and Accounting and Reporting by Charibes.. Statement of Recommended Practice ISORPI applicable to ch8ribes preparing their financial statemenis in accoidance in the UK and Republic of Ireland {FRS1021 effective Irom 1 January 2019. ObleGtSvo8 and actlvltl•g PolScles and obl•ctlves The objecllve ol the Howard de Waldw Host81 Charlty was lo establish and maintain a host61 lor the re55dnti81 accommodalion, recrea11 and in5truGtion ol %Mn8n and girts of the town of M8idston8 8mployed wllhln the said town or the neighbourhood thereof. oblectivg wa$ 8m&nded on 8 Febrnary 1993 so that the hostel m(ght also b8 us8d for the beneflt of young Women and girfs attending a Course ol Instruction at a recognised place of educabon or instrucu'on in Maidslon8. During 2CH)3 Ihe otlective ol the hosl¢l ¢haritywas èxt•nded to kndude young men. In setllng obl$¢t15 and planning for aclNlties. Ihe Trustees have given d(te ¢sIderat)n to general guldance published by the Charity Commission relatin9 to pu1¢ benefit. including Ihe guidance Public benefil.. running a charity IPB21'. b. Str•t•g1?$ tor achlovlng obJÈetlv•8 Th8 Trust89s work to an ac11 and dellvary plan agreed by thè Tw$ts¢$ whlch is regularfy r$Wad arKI am•nde<l. c. Aetlvltl•• undèrtak•n to ehlev• obJecllv•s The Hostel Is subject to or¥Jolng maintenance and è prty)rdmm of ronovalS to ensure it Is maintained at 8 good standard. Aehl•v•m•nts and p•rtom)anc• . Revl•w of actlvltb•s During the year Ihe Charrty has been able to ¢ontinu¢ to malniain the property as well as ensuring that ¢h¥ property complies wth the current fire regulafions_ Flnanclal revlew a. Golng concèrn After making approwiate enquiries, Ihe Trustees have a reasonable eXpeC(atyr th3t the Charity has adequate resource5 to continue in operational existence for the foreseeable future. For this rea50n, they continue to adopt the going con¢em basis in preparing the finanual statements. Further details regarding the adoptson of the going concern basis can bè found in the accountiThJ pdws. Page 2
HOWARD DE WALDEN HOSTEL CHARrrY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 b. Reserves policy Trustees aim lo hold reserves sufficient lo cover costs of ¥unning and maintaining the hostel for the next 12 months. The balance ol reserves al 31 March 2024 amounted lo £157.77512023- £158.3121. c. Key figurès Results ol the charty for the year show a nel decrease in lunds of £2,53712023- inC$e of £3361. d. MaterSal Investments policy OUT investmenl advisors Blackrock are tnstnjcted lo invest lo maximise the lolal luM on BlackCk Charities UK Equily Funds within Ihe conlraints ol a bw fisk investment portfolio. Structure. gov•rnance and m4n*gèmont Constitutlon The Howard de Walden Insbtue as il was formerty known came into existence as a charity In 1896. In 1922 scheme was approved by The B¢)afd of Charity Commissioners for England and Wases for the iegulalion ol the harily. In 1950 the Iruslees applied to the Charity Commisstoners and on 12 January 1951 a Charity Commission Scheme was approved dividing the Original charity into hvo separate chanhes to be known as The Howard de Walden C5ub Charity and the Howard De Walden Hostel Charity. The Charity CommissKJn Scheme was amended on 5 Decembei 2003. The Charity number is 239044. There have been changes in the objectwes since the last annual ieport. b. Methods of appolntm•nt or electlon of Tru$tee$ The mana9emenl ol the Charity 15 the reSnSibI1ty of the Tru51ees who are elecled and co<Jpled under the lems of the Trust deed. The charity conslilutes a trust, adminstered and man4ed ty a body of trustees consisting of or+e nominated trustee, and up lo eh1 ccwperalNe trustees. The nominated trustee shall be appointed by the Archbishop of Canlerbury. Co-operatsve trustees are persons residing or carrying on business in or near Maidstone, and are appointed by resolution of the existing trustees al special meetings. c. Organl$atlonal Structure and de¢islon-maklng policles The Trustees meet on a monthly basis lo discuss and resolve any issues ar¢sing. The Trustees are the main decision making body for the Charity. The House Manager runs the hostel on a day to day basis. d. Pollcles adopted for the Inductlon and tralnlng of Trustee$ The charity provides new Trustees wth training arKI mentoring from the Chair. Page 3
HOWARD DE WALDEN HOSTEL CHARrrY TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Structur&. g¢v•rnance and management lcontinuedl e. Pay polley for k•y management pernonnol The Trustees conshler the Board of Trustees and the Treasurer as ujmprising the key management personnel of the charity in charge of directing. controlling, running and operating the charity on a day to day ba51S. All Trustees give their tme freety and no trustee remunation was Pa in the year except a small honorarium paid to the Treasurer which Is agreed each year by the Board of Trustees. Plans for futuro yrlod$ The long term aim of the Charity is to maintian full ¢pan of Ihg Hostel When funds allow, it is hoped that the lop floor be renovated arKt brought back into use. Statement of Tru$tge$' rosponslbllltles The Trusiees are responsible for preparing the TrLtstees' report and the financial ststements in aceordance with applicable law and United "ngdoM Aceounling Standards (United Kingd¢yn Generally Accepted Accounting Praclicel. The law applicable lo charities in England & Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view ol the stale ol affairs of the Charity and ol its incoming resources an¢J applicab.on of resources, including its irrne and expenditure. lor Ihal period. In preparing these financial statements. thè Trustees are required lo.. select suitable accountin9 pOIleS and then apply them consislenty.. observe the methods and principles ol the Charities SORP IFRS 1021. make judgements and accounting estimates that a reasonable and prudent", stsle whether applicab UK Accounting Standards IFRS 1021 have been followed, subject lo any materi81 departures disclosed and explained in the financial statements, prepare the financial Statements on the going concem basis unless it is inappropriate lo presumg that the Charity will continue in business. The Trustees a responsible for keeping adequale accountsng records ihat are sufficient lo show and explain the Charity's transactsons and disckjse wlh ieasonable accuracy at any time the financial position ol the Charity and enable them lo ensu that the financial slalemenls comply wlh the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provis$ 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. Approved by order of the members of the t#)art1 of Trustees ar SVJn on their behalf by". I Sweetman Dale.. Page 4
HOWARD DE WALDEN HOSTEL CHARtTY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Ind•nd•t examtn•rfs rnport to th TNs1•è5 of Howard De Walden Hostel Chaflty Ilh• Charltyl I report lo the charity Tru$ttss on my examThtion ol the accoLmts of tho Crity for the year ended 31 March 2024. R•sponslblliti•s and basls of r•port A5 the Truste8s ol th• Charity yvu 8re SponsItIe for Ihè preporalion of the accounts in accordance with lh requirements of ¢h& Charities Act 2011 {Ihe 2011 Act'j. I report In r¢spect of my examination of tha CharilY5 acc¥wnts caryled cyjt under seclon 145 of th8 2011 Acl and In ¢arryin9 out my examinabon I have folk)1 the 8pplicable Direciions 9Nen by th Chgrity Comrni5sion under secllon 14515llbl ol the 2011 Act. Indop•nd•nt •xamlftèrfs st4tem•nt I havè complated my examination. I confim Ihat no matters have come to my 8ttgnl1 In with the ¢xamlnallon glvlng rne cause to boli8v& that in any material respecL accounting records wwo not k?pl in respect of the Charity as rgwir¢d by 8ectron 130 of th8 2011 Act.. or the accounts do not accord Vth ihosa r•cord$.' Ihe accounts do nol comply wlh Ihe ¥pplrAble requirements coneAmlng th¢ form and ¢onlenl ol accounts set out in the Charitso$ (AoUnts and Rep) Regulatn$ 2008 oth&r than #ny requirement th81 the accounts gi a 'tru¢ and fairf view %thich is not a mattar Consred 0$ Part of an independent éxamlnatlon. I have no concerns and hav& com8 a¢ros$ no other matters in conn8ctKM vAth thè 8xam?nats'on lo wh attenllon Should be drawn in this report th ortsr lo enae a proper understandln9 01 tho ¥¢¢ounts lo be reached. This report is mad6 sol$ly to the Charitys Tnjstees, as a body. In accordance with Part 4 01 the Charities (Accounts and Rèports) Regulations 2008. My work has b undertaken 60 that I Mh1 slate lo th& Charitys Trustees thosè matl8rs l arn required to slate to thèm In an Independenl examinerfs report and for no othor purpose. To lull exlenl permitted by law, I 110 not a¢¢epl or assume responwbilty to anY£e other than I Charlty and th¢ C rivs TNstees as a body. for myvtsk or for this rep)rt. Slgned.. D Cochrane4ly•t Bsc BFP FCA MHA Maidstone Unlted Kingdom Pagè 5
HOWARD DE WALOEN HOSTEL CHARITY STATEMENT OF FINANCIAL ACMVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrnstrict•d fund$ 2024 Total funds 2024 Total lunds 2023 Not• Ine¢xnè from: Charitable acts'vrtie¥ Investments 64.991 2,983 64,991 2,983 62.765 2.113 Totsl Incom• 67,974 67.974 64,878 Exp•nd1tU on: Charitsbl& activitie5 72,058 72,0S8 64,001 Total 0Xndlu11 72,058 72,058 64,001 Net l¢xpenditureillncom• b•lor• n•t galnsllloss•s) on Investments Nel gainslllossesl on Investments 14,0841 1,547 14,0841 1,547 877 15411 Not mov•meni In fund$ 12.S371 12,5371 336 Reconclliallon of funds: Totsl funds brought forward Net movement in lunds 158.312 12,5371 158,312 12.537} 157,976 336 Total funds carrl•d forward 155,775 155.775 1S8,312 The Sl3lem¢nt ol finanual aclivilies Include5 all gains and losses recognised in ar. The rK*tes on pages 8 to 18 fom part of thesè fingrtial stat1nents. Page 6
HOWARD DE WALDEN HOSTEL CHARtrY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Not• FSxed assots T8ngible 85stts Invèstmants 10 11 14,712 Sfj.401 17.619 $4,854 71.113 72.473 Curront ass•ts Debtors Cash at bank and in haThJ 12 944 89,734 1.207 90.939 90.678 92.146 Credilors.. amount8 falllng due wilhin one y8ar 13 16.0161 16,3071 N•t ¢urr•nt •$$•ts 84,662 85,839 Total •sut81•88 eurrgnt11obllttl•$ 155,77S 1S8,312 Total not as1¥ 155.775 158.312 Charity funds Restrfcted funds Unrestricted lunds 15 15 155,775 158,312 Total lunds 155,775 158,312 The financial Statements were approved aTrJ aUtl$ed for is¥ by the Trustees and slgned on thglr behair ty. J I Sw•etman Date.. I oi Thg notes on pages 810 18 fowrn pwt of these finar18[ Statements. Pagg 7
HOWARD OE WALDEN HOSTEL CHARrrY NOTES TOTHE FINANC STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Genero1 Infomiatlon Howaid de Walden Hoslel charity is an unincowrated charity fegistered by Ihe Charity Commission in England and Wales and wvemed by the Scheme dated 15 November 2010. The registered address is given on the admini5tratNe details pago ol these finarKi81 stalement5. financial statements are pr85ented in sierling which is Ihe funcfional currency ol the charity and rounded lo the nearest pound. Accountlng polScl•s 2.1 Basls of prnparatlon of financlal stst•m•nts Th¢ financial ststements ha been pr&pareiJ in a¢cordan¢e wilh the Charstias SORP IFRS 1021- A¢¢oLtnling and Reporting by Charrties.. Statemenl of Recommended Practi¢¢ applicable to charilles preparing their accounts in accordance wilh the Financial Reporting Standard 8pplicable in the UK and Republic ol Ireland IFRS 1021 {effeclive 1 January 20191, the Financial Reporting Slandard appluble in the UK and Republic ol Ireland IFRS 1021 and the Charits"es Act 2011. Howard De Walden Ho$lel Charity mee15 the defin1ti¢ of a wJbll¢ btrn¥fil ¥ntity undèr FRS 102. Asseis and liabilities are initially recognised at historical o)s¢ or transactit)n v¥lu¥ unless otheiS8 slated in Ihe relevant accA)unW Oicy. 2.2 Golng conc•rn Thg Tru$te¢s ha ¢onsld&red fvlty th¢ ¢hariV$ Ilnan¢ial po$lllJ). The Tru51ees con3ider Ihal there are no malerial uncertainitses al)out the ¢hafill$ ability to contlnu8 as a goiThJ concem for the l¢)T8eeabte future. 2.3 Incom• All incomé 1$ rècognisad oncè Ihè Charity has ¢nb"Uèment to th8 Income, it is probable that the incomtr will r¥c8wéd and Ihè omount of inle receivalje ¢an be mèasured reliably. Irthme tax recoverabk8 in relalion to VeStMent ncome is rocognised al tho b.me tho inv&stm&nt incorne is reCeNa9. Pagè 8
HOWARD DE WALDEN HOSTEL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDED 31 MARCH 2024 Accountlng pollel•s leontinuedl 2.4 Expendltur• Expenditur8 is recognised onco there is a le9al or (xJn5truth"vè obligatitirj lo transfer economlc benefit to a third paty. it 15 probable that a tran51ef of economlc benefits Wi be required in 5etUemenl and thè amount of the obligation can b8 measured reliably. Expenditure Is classified by aclwty. The Costs of gach activity are made vp ol the total of (Firecl costs and shared cosfs. Sndudiro support costs Involved In undertaking each activity. Direct costs attributable to a single acliwty are allocated directly lo that actiwty. Shared costs whlch contribute to more than one aCty and support costs which are not atlrkn¢Jtable to a single acts.vity arfr aplIOned betwfi those activities on a basis consistent vAth the use of resources. C8ntral staff ¢osts arè alk£at on the basis of ts"m8 sn( and depfeciatich) charges allocated on the pth.on of th¥ as$el'5 Use. Kndl1Ur• on chgntabts 8cbvilies 1$ kncwred on dire¢Vy uThJ¢rtaking the a¢tivitie$ bvhi¢h furth•r th& Charivs objectives. as well as any associaied 5UPPOrt CDSts. AJI expenditure i8 Inclusive of irTecoverabl8 VAT. 2.S Int•r••t r•c•lv•bl• Interest on h8ld on d8posit Is Ind6 vthen I01¥able and tha amount can b8 measured relkbly by Ihe Charity., this Is normalty Ltpon notlficauon of tha Int•r8st pald or payable by thg institution whom the lunds are d8P)sit8(1. 2.6 Tanglbl• fix•d ets and deprg¢Satlon T¥ngtble f¢xed 85sels cosltng £500 or more are capilali5ed and recogni5ed when rfUre econorni benefits are probable and the cosl or value of the as5el can be me85ured relbly. Tangible f¢xed assets are initialty recognised at cosl. After rewJnition, under the cost model, tangible rixed assets are meaSUd al cost less accumulated depreciation and any accumulated impairment losses. AJI costs Sncurred to bring a tsngibk fad assel into its intended working condlbon should b• IndLtded In the m&asurèmènt of cosL D8prg¢iatlcA) 1$ ¢harg811 $0 as to alk¢at& tho $1 ol tsnglble fixed assets less thelr rg$ldual valu& over thelr estimated useful INes, the 5tr8igh14ine met11. DeprecialJn provided on the frAl¢ying bas55". Freehdd wopety - 10% Sirnlghl Llne 2.7 Inv•stmÈnts Fed asset investments are a form of finaneAal irtrUment 8nd arè inibalty r¢¢goi3ed al their transaction cost and subseqvenuy measured al fair value al the Balance sheet d8tg. unless the valu8 cannot be measured reliably in which case rt is measured at o)st less impaim7ent. Invesbnent gair¢s and 105ses, whethèr realised or unrealised. ar6 comlm.ned and presented as 'GainsllLossèsl on Irwgstrngnts. in the Ststemgnt of fvpncial a¢tith. 2.8 Debtors Trade and other debtors are recognised at Ihe setuement amount after any trade discount Offed. Prepayments are ¥Ued at Ihe amwnt &Yepaid nel of any trade discounts due. Page 9
HOWARD DE WALDEN HOSTEL CHARirY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles {¢ontSnued} 2.9 Cash 4t bank and Sn hand Cash at bank and in hand indudÈs cash hrKI short-term highly liquid inveslrnents wlh a short maturity of Ihrèe monlhs or lèss from the date of acquisition or opening of the deposit or similar account. 2.10 Uabllltlos and provlslons Liabililies are recognised when there Ls an obllgakn at Ihe Balance sheet d8te 85 8 re$ult of a past evenl, il is probable that a translèr ol e(x)nomic benefil wll be required in seluement, and th8 amount of th& $etllem¥nl ¢an b¢ trstymaled reliatAy. LIabltreS are recc¥Jnised 31 the amounl ihat the Charity anlicipat•s it wtll pay to setue the debt or Ihe omount it has received as 8dvanced paentS for the gwjs or $*rvi¢&$ il must provvje. Provisions afe measured al bèst èslimalè ol the amount5 Teqvired io setue the obligatitsn. Whèrè the èflect ol thè time valua of money 15 material, the provision is based on the present value of thos amounts. di$¢(yJnted al the pre-tsx discount rate that reflects the risks sp8crfic lo the liats'lity. The unwthdlng ol th8 discount Is recognised in th8 Slalemont of finanaal ac1vItS as a finance cost. 2.11 Fln4nclal Instrurn•nts The Charity only has financial assèts and financial liatilities of a klnd that qualify as baslc financlal inslnjments. Basic financial instrumtsnts ara initially recogni5ed 8t trarnsaction value and subsagu¢nlly measur8d at their s&tUement value vlilh the excepticfi ol bank klans vknich are subsequenuy mtasured at amorti5ed c¢)sl uslng the effective Inle$1 method. 2.12 Fund accouneln9 General funds are Unfestrled funds arè av8iL8bl8 far u80 81 the diserétion of th8 Truste&s in furtherance ol lh8 gen8ral obj8cb"v8s ol Ihè Charity and %thi¢h have nol been dèsKJnalod lor othar purposas. Investment in¢ome, gains aTrJ105ses are alkxaled to lh8 appropriatè lund. Page 10
HOWARD DE WALDEN HOSTEL CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Incorne from charltable actlvlttes Unrestrl¢ted funds 2024 Total fvnds 2024 Total funds 2023 Board rè$Klence Laundry Electric meler 62.414 1,882 695 62.414 1.882 695 59,742 2.243 780 Total 2024 64.991 64,991 62.765 Total 2023 62,765 62.765 Inv•stm•nt Incom• Unr•strlcted lunds 2024 Total funds 2024 Tot81 funds 2023 Dlvidands re¢¥iv8bl& from inveslrnenls and unit trusis Bank int&rèst re¢Vabl* 1.888 1,095 1.888 1.095 1.837 276 Total 2024 2.983 2,983 2.113 Total 2023 2.113 2.113 Page11
HOWARD DE WALOEN HOSTEL CHARtrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 An#lysl$ of expenditure on ¢hari¢able activiti0$ Summary by fund type Unrestrkted funds 2024 Total 2024 Totsl 2023 Charita6 ac•S Governance 66,002 6,056 6,002 6,056 58.193 5.808 TotZ412024 72.058 72.058 64.001 Toial 2023 64,001 64.001 In the or year. 1 0Xnd1(Vre was mad& from Lmre$lri¢téd fvnd$. Summary by expendlturg ty Staff costs D•pr•clatlon Oth•r costs 2024 2024 2024 Totthl 2024 Total 2023 Charitable acll¥Ats•s Govemance 19,976 2.7 43.119 6.056 66.002 6.056 56,193 5.608 Total 2024 19.976 2,907 49,175 72.058 64,001 Total 2023 19,824 2.907 41.270 64,001 Page 12
HOWARD DE WALDEN HOSTEL CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of exp•ndltur• by acti¥itles Support costs 2024 Total nds 2024 Total funds 2023 Charitable acb.wbes Govèrnanee 66.002 6.056 16.002 6.056 $8.193 5.808 Total 2024 72.058 72,058 64,001 Totsl 2023 64.001 64,001 Analys1$ of support costs Chari¢abl• actlvltl•s Gov•manc• 2024 2024 Total funds 2024 Tolal funds 2023 Staff costs 19.976 2.907 159 4,685 5.104 13.358 18.230 1.319 189 19.976 2,907 1S9 4,685 5,104 13,368 18.230 1.319 189 5.356 700 65 19,824 2,907 159 4.896 4,686 14,718 9,658 1,278 175 S.108 700 92 Depreraalion rv licence Rat*s Insuranc8 L1, heal and power Repairs arKI mainlenance Telephone, poslage and ststionery Computor c95ts Independent Examin¢rfs fee Treasurels salary Sundry 5.356 700 Total 2024 6,056 72,058 64.()01 Total 2023 58.193 64,001 Page 13
HOWARD DE WALDEN HOSTEL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDED 31 MARCH 2024 Independent examlnefs remuneratiot) 2024 2023 Fees payable to the Chanvs independent examrn8f fry the indfypendgnt examination of thg Charitys annual a¢¢ounts F¥•s paYae to the Charivs independenl examiner in respect of: Non audlt s•rvi¢08 2,168 2.269 3.IB8 2.839 Staff Costs 2024 2023 Wages and salafies 19,976 19.824 The aVere number ol perSc$ ¢mpW by the Charityduring thè yèar was as lollows.. 2024 No. 2023 Employeè No employee ieceNed iemuneration amnting lo more Ihan £60.CXS In elther year. The charity considèrs rts key management per50nn81 mprIse the Trustees and the Treasurer. The tot81 emplonent nefitS ol key mana98ment p8¥sonnel were £70012023.. £7001 being the honorarium paid tts the Treasurer (see below). other trustees ve freely their time and e¥pertkse without any lomi of emdumenis or reirntsjrsemenl of expenses. Trust••s' remunèratlon nd •xn8•S 2024 2023 MrSMRing HOrariUM 700 700 During the yaar ended 31 March 2024. M Tnjslèè •XnSeS havè bè8n incurr8d12023- £NIL). Page 14
HOWARD DE WALDEN HOSTEL CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. T8nglbl¢ fixed assets Freehold property Cost or valuation At 1 Apdl 2023 109,856 At 31 Maieh 20241 109.856 D•pr•Glatlon Al 1 April 2023 Charge for Ihe year 92,237 2,907 Al 31 m?h 2024 95.144 Nèt book valuè At 31 Mafch 2024 14,712 At 31 Mar¢h 2023 17,619 11. Flx•d as8•t Inv•$tm•nts Ll$t#d Inv•stm8nts Cost or valuatlon At 1 April 2023 Revalualions 54,854 1,547 At 31 March 2024 56,401 The 8bc*ve Investmènts reprèsent thè ch8riVs Invesbn¢nl In Blackrock Chathes UK Equity Fund, h1ft9 of 7.736.807 share$12023- 7.736.807 3hare51. Pagè 15
HOWARD DE WALDEN HOSTEL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Deb¢ors 2024 2023 Due wlthln one year Tradè debtors Prèpaym¢nts ar accru irKome gs 212 944 1,207 13. Cr•dltors: Amounts f?Illng du• wllhln one y•ar 2024 2023 Trade cdItorS Other taxats'on and social security Oth?r creditors Accruals ar deferred income 309 124 1,746 4,128 1,704 4,312 6,016 6,307 14. Flnanelal In¥trum¢nts 2024 2023 Flnanclal ass•ts Financial assets measured al fair vafue through inwne and expenditure 56,401 54,854 Finanaal assets measur8d at lalr Val throu9h in¢om¢ and ¢xpondilur¢ ¢ompri$g flxad assel Inveslments valued at thair fair valug at th$ >ear end. Pagè 16
HOWARD DE WALDEN HOSTEL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Ststement of funds Statom•nt of funds- current year Balance at 31 March 2024 Balanc• at 1 A4+rll 2023 Galnsl IL0s5esI Incom• EXpendIre Unrestrtct•d funds Res$Ntr$ 158,312 67.974 172.0581 1,S47 1S5,775 Statement of funds- prlor y•8r Balance al 31 March 2023 Balance 81 1 April 2022 GaSnsl (Lossesl Incune Expendrtur8 Unr•strSct•d funds R•s&rves 157,976 64.878 164,001) 15411 158,312 Page 17
HOWARD DE WALDEN HOSTEL CHARtTY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Analysls of net se19 betw•en funds Analysls of nèt •ss•ts b•twe•n funds- current p•rlod Unr•strlet•d lunds 2024 Total funds 2024 Tangib fixed a$s&ts Fixed asset Inv&stments Cvrrenl assets Crèditors due wthin ce year 14,712 56,401 90,678 16,0161 14,712 56.401 90.67B 16,0161 Total 155.775 155,775 Analysls of nèt a¥$et¥ betw•en lund¥ . prlor yrlod Unrèstrictod fund8 2023 Total fvnds 2023 Tanglbla fixed •$stts Flxed assel Investments 17.619 54,854 92.146 16,3071 17,619 54,854 92.146 16,3071 Current a55ets Crèditors due wthin ar Total 158,312 158,312 17. R#lat•d party transacUons Duiring Ihe year the trustee Mr S M Ring. In hls rol8 as Treasuror. recelved a small honorarium salary of £70012023. £700}. Pag8 18