Charity number: 243806 THE HUGH NEILL CHARITY UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
THE HUGH NEILL CHARtrY CONTENTS Pz8e fteferen and administrat1¥* dètsils of the charfty, its Trustees and ad¥lsers Tru5tees' rtport Independent èxamlner's report statement of financial activities Balance sheet Notes to the financlal statements 8-15
THE HUGH NEILLCHARITY REFERENCE AND ADMINISTRATIVE DETAILS OFTHE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH2024 Trustse5 Laily Neill DL Mr5J PHolah Mrs S E Browne MrsAJLee Charlty re81stered number 243806 Principal offic• The Hugh Neill ChaTIty Barn Cottage Lindrick Cornmon Work50P S818BA Contact Email.. hnc@neillcharities.com Website.. www.nellltharities.comlhnc A¢ntnts 8HP LLP 2 Rutland Park Sheffield 510 2PD Bankers National Westminster Bank ple 42 High Street Sheffield 512GE Sollcltors Wrigleys Solicitors Derwent House 150 Arundel Gate Sheffield SI 2FN Investment advisors Rathbones (incorporating Investec Wealth & Investment IUKII 61 Napier Street Sheffield SII 8HA Independent examlney Rachel Heath FCCA DChA BHP LLP 2 Rutland Park Sheffield 510 2PD Page I
THE HUGH NEILL CHARITY TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2024 The Trustees present their annual Teport together wlth the financlal statements of the tharity for the period ended 31 March 2024. The period end date was changed to 31 March during the period. This means that the current period is 361 days rather than a full year and 50 the figures are not entirely comparable with the prior year. The accounts have been prepared in accordance with the accounting policies set out in note I to the a¢count5 and comply with the Trust'5 Deèd, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing theif accounts in accordance with the Fin3ncial Reportin8 Stsndard applicable in the UK and Republic of Ireland Ipublished in October 20191. Structurew governnnce and monuoement . Constitution The Charitable Trust arises from gifts made by the late Sir Hugh Neill by a Deed of Settlement dated 21 September 1964 and is to be applied for such charitable purposes as the Trustees in their absolute discretion shall think fit. by means of grants to tharitable OTgani5ation5 Qr funds. The Trustees who served durin8 the period were.. Lady Neill DL Mrs J P Holah Mrs S E Browne MrsAJ Lee b. Method$ of appointment or electlon of Trustees Trustees are appointed by existing Trustees wfith the appointment being confirmed in writin8. All Trustees givè of their time freely and no Trustee was remunerated In the period. Financial risk management The principal risk5 to which the charity is exposed are the security and performan of the Investments and cash. The Trustèès arè satisfied that they have arrangements in place to mitigate those risks. Oblertlves undartivltles a. Policies and oblectlves It is the policy of the Trustees to 8ive preferentlal consideration to registered charttable bodie5 operating in South Yorkshire. The Trustees usually meet In the autumn each year to conslder appeals, which should be submitted during the rnonth of September. Appea15 received at other times of the year are deferred until the following Autumn unless they require consideratlon for an urgent grant for a 5peafic project. Page 2
THE HUGH NEILL CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE PERIOD ENDED 31 MARCH2024 Oblectlve5 and actlvltles Icontinuedl b. Ilubllc benèfit The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Details of the activities carried out to deliver a public benefit are Set out in the Achievements and performance sèction below. A¢hlevements aftdperformunce a. Maln achie¥ements of the tharlty During the period, the Trustees provlded financial support totalling £17,250 to 18 organi51tions 12023: £20,550 to 23 organisatlonsl Details of the grants rnade are set out in the notes to the accounts. Finonciulrevlew a. Revlew of the perlod The attached accounts show the current state of the charity's finance5. Total in¢ome for the period was £27,49812023'. £27,383). Total expenditure for the period was £27,73912023'. £27,568). Investment management costs were £3,07812023.' £3,220). Expenditure on d)aritable activities was £17,25012023: £20.5501. Support cost5 were £7,41112023: £3.7981. Net income for the pertod wa5 £10.595 12023-. net expenditure of £54,810) after taking into account the galn on investment assets of £10,836 12023= loss of £54.6251. There was a surplus on the unrestricted fund of E2.73412023'. EI,3031 and a 5urplu5 on the èndowment fund of £7,86112023.. £56,113 deficit). Total funds carrled forward at 31 March 2024 are £61X),73812023'. £590,143) of which endowment funds are £571,121 12023-. £563,260) and unrestricted funds arp £29,61712023.' £26.8831. TheTrustees considèr the overall finance5 of the charlty to be sound. Reserves pollty At 31 March 2024 the charity had unrestricted reserves amounting to £29,61712023'. £26,883). The Trustees ¢onsider it to be prudent to hold income reserves of this order partly so that the level of grants in the immedlaie future can be sustained in the event of any unforeseen fall in income and partly to enable the Trustees to make one or more particularty substantial grant5 Wlthout prejudicing the normal pattern Df grant making. ¢. Golng ncern There are no material uncertainties in relation to going concern. Further detai15 about the adoption of the going concern basis are Biven in note 1.2 to the accounts. Pase 3
THE HUGH NEILL CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE PERIOD EAIDED 31 fvIARCFI 2024 d. Inve5tmÈnt policv The expendable endowment fund assets are substantially held in quoted 5ecuritie5 covefin8 a diversified range of assets including Fixed Interest, UK and Overseas Equities, Commercial Property and Alternative Investrnents. The inve5trnent objective 15 to maximise the fund5 of the charity through a mlxture of the above assets, achieving a level of income commensurate to the asset mix and capital growth ahead of inflation over time. This objective Should be achieved undertaking only a moderate level of risk. The unrestrlcted Income fund Is held partly In quoted securltles and partly In cash on dep051t. The Tru5tees' investments are mana8ed by the investment advisors on a discretionary ba515. e. Asset cover for funds Note 11 sets out an analysis of the assets attributable to the variou5 funds. These assets are sufficient to meet thè charlty's obllgations on a fund by fund basls. statement of Trustees, responsibiliti#s The Trustees are responsible for prep3rin8 the Trustees. report and the financial statement5 in accordan with applicable law and United Kin8dom Accountin8 Standards (united Kingdom Generally A¢tepte(l Acwuntin8 practi). The law applicabSe to charities in England & Wales requlres the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affair5 of the charity and of its incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financial statements. the Trustees are required to= select suitable accountin8 poli¢ie5 and then apply them consistently- observe the methods and principles of the Charities SORP IFRS 1021- make judgments and accountlng estimate5 that are reasonable and prudent; state whèther applicable UK Accounting Standards IFRS 1021 have been followed,. prepare the flnanclal staiements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustee5 are responsible for keeping proper 3ccounting records that disclose with reasonable accufacy at any time the financial p051tion of the charity and enable them to ensure that the financial statements comply with the Charities Att 2011, the Charity (Accounts and Reports) Regulation5 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the asset5 of the charity and hence for taking reasonable steps for the pventIOn and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and Signed on their behalf bv: Lady Nelll DL Date.. Page 4
THE HUGH NEILL CHARITY INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 MARCH 2024 Independent Examiner's Report to the Trustees of The Hu8h Nelll Charfty I'the charlty) I report to the charity Trustees on my examination of the accounts of the charlty for the period ended 31 March 2024. Responsibilitie5 and Basls of Report As the Trustees of the charity you are sponsible for the preparation of the accounts in accordance with the requirement5 of the Charities Act 20111'the 2011 Act'l. I report in respect of my examination of the charity's account5 carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Direttion5 given by thè Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confirm that no matter5 have come to my attention In connertion with the examination giving me cause to believe that in any materlal respect.. accounting Tecord5 were not kept in respect of the Charity as Tequired by section 130 of the 2011 Act,. or the accounts do not accord wlth those records,. or the accounts do not compSy wlth the appllcable requlremenis concerning the form and content of accounts Set out1n the Charlties IAciount5 and Reports) Regulations 2008 other than any requirernent that the accounts give a rue and fair, view which is not a matter considered as part of an independent examination. I have no cOnmS and have come across no other mattèr5 in connection with the examination to which attention should be d¥awn in thls report in order to enable a proper under5tandin8 of the account5 to be reached. Signed: Dated.. 1711012024 Slgnèr ID. WKOLTHN6RI.. Rachel Heath FCCA DChA BHP LLP 2 Rutland Park Sheffield SIO 2PD Page 5
THE HUGH NEILL CHARITY STATEMENT OF FINANCIALACTIVITIES FOR THE PERIOD ENDED 31 MARCH2024 UnrestrScted funds 2024 Endowment tynds 2024 Total funds 2024 Total funds 2023 Not* Income and eTrdowmentg from: Investments 27.498 27A98 27,383 Total Income and endowment5 27,498 27A98 27,383 Expendlture on: Raisin8 funds Charitable activitie5'. 3078 378 3,220 Giants 17.250 7NII 17.250 7,411 20,550 3,798 Support costs Total expendlture 24661 3,078 27.739 27,568 Net Incomellexpendlture} before net Ilossesllgains on investments Net11055esl/gains on Investments 1837 1103) (J,0781 10.939 12411 10,836 11851 154.6251 Net movement In funds L734 7.861 10,595 154.8101 Reconciliation of funds: Total funds brought forward Net fflovement in funds 26.883 563.260 7.861 S90.143 lQ,595 644,953 154,8101 2,734 Total funds carrled forward 29.617 571.121 600.738 590.143 The Statement of Financial Activities include5 all gains and losses reco8nised in the period. All income and expenditure amounts relate to continuing activsties. Page 6
THE HUGH NEILL CHARITY BALANCE SHEET A5AT31 MARCH 2024 31 Marth 2024 5 April 2023 Note Flxtd asse15 Investment5 $97,340 572.800 597.340 572,800 Current assets Cash at bank and in hand 4.564 18.465 4.S64 18,465 Creditors.. afflounts falling due within one year {1.166) 11,1221 Net current assets 3,398 17,343 Total asset5 le55 current Ilabllltles fA)0.738 590,143 Total net assèts 600,738 590,143 Charity fund$ Endowrnent funds io S71,121 29,617 563,260 26,883 Unrestricted fvnds io Total funds 600,738 590.143 The financial statements were approved and authori5ed for i55ue by the Trustee5 and signed on their behalf bv.. Lady Nelll DL Date: 11 oc*0 ao&4- The notes on pages 8 to 15 form part of these flnancial staternents. Page 7
THE HUGH NEILL CHARir¢ NOTES TO THE FINANCIALSTATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 A¢¢ountlnK polldes 1.1 Basis ofpreporatlon oAfinanclolstotrments The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (published in October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial ststements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to thè extent required to provide a 'true and fair. view. This departure has invofved followin8 the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charitles.. Statement of Recommended Prartice effertive from l April 2005 which ha5 since been withdrawn. The Hugh Neill Charity meets the definition of a publit benefit entity under FRS 102, A55et5 and liabilitles are initially recognised at historical cost or transaction value unles5 Otherwlse stated in the relevant accounting policv. The financial statements are prepared on a going concern basis under the historical cost convention, modlfied to include certain items at fair value. The financial statements are prepared in sterling, which is the funthional rrency of the charity and rounded to the nearest £. 1.2 Going concern The flnancial Statements have been prepared on a 8oin8 concern basis as the trustees belleve that no material uncertainties exist. The tru5tee5 have considered the level of funds held and the expected level of income and expenditure for the 12 months from authorising these financial statements. The charity has sufficient reserves to enablÈ it to continue for the for5eeable futurÈ. Therefore, the trustees believe it is appropriate for the financial statements to be prepared on the 80in8 concern basi5. 1.3 Income All income is recognised once the cornpany has entitlernent to the Income, it is probable that the income will be received and thè amount of income receivable can be measured reliably. L4 Expendlture Expendlturelg Included on an accruals basis inclusive of any irrecoverable VAT. Grants payable are charged in the period when the offer 15 conveyed to the recipient except in those cases where the offer is conditional. such grants being recognised as expenditure when the conditions altaching are fulfilled. Grant5 offered subject to conditions which have not been mèt at the period-end are noted as comrnitment, but not accrued a5 expenditure. All governance and 5ecretarlal $t5 are akin to support costs under the Charities SORP IFRS 1021. All costs other than inve5trnent fees are therefo shown as SUPPOrt costs under charitahle expenditure. Page 8
THE HUGH NEILi CHARITY NOTESTO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Accounting policies Icontlnuedl 1.4 Expenditure (contlnuedl Expeniliture on Taising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundrai5inB artivitie5 events and non-charitable trading. Expenditure on charitable attivities is incurred on dlrectly undertaking the actlvitles which further the charity's objective5, as well as any a550ciated support Costs. 1.5 Taxutlon The charity is tonsidered to pass the tests set out in Sch. 6, para. l of the Finance Act 2010 and therefore it meets thè definition of a charity for UK income tax purposes. Accordingly, the charity 15 Potentially exempt from taxation in respect of income or capital gain5 received within categories covered by Income Tax Act 2C4J7. Part 10 s521 - s537 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income ol gains arè applied exclusively to charitable purposes. 1.6 Investments Investment5 are included at their maTket value on 31 March and the unrealised net Eains or losses arising from the revaluation are rèco8nised in thè Statement of Financial Activitie5. 1.7 Cush atbunk undln hund Cash ai bank and in hand includes cash and shoft-term highly liquid investments with a short maturlty of three months or less from the date of acqui51tion or opening of the deposit or similar account. 1.8 Uabllltles andprov151ons Creditors and provisions are recognised where the charity has a present obligation resultin8 from a past event that will probably result In the transfer of funds to a third party and the amount due to settle the obligation can be measured or estirnated reliably. Creditors and provision5 are normally fecogni5ed at their Settlement amount after allowing for any trade discounts due. 1.9 Finunriolin5trnments The charity only has financial assets and financial liabilities of a kind that qualify a5 basic financi31 instruments. Basic financial instruments are inltlally recognised at transaction value and 5ub5equently measured at their settlement value with the exception of bank loans which are subsequently measured at amort15ed c05t using the effective interest method. Page 9
THE HUGH NEILL CHARITY NOTESTO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Accountin8 polkles Icontlnuedl 1.10 Funduccounting Expendable Endowment Fund This fund represent5 the value of the original gift to the charity in 1964 and a subsequent gift in 2001, together with the net investment gains, realised and unrealised, since that time. Thls comprises funds that may be held in perpètuity which the Trustees a able to use in accordance with the charitable objects detailed in the Deed. Therefore the Trustees considèr that the capital should be re8arded as expendable endowment. Unrestrlcted Income Fund These are ihe reserves which the Trustees are free to use in accordance with the charitv's objectives. Investment Income Unrestrlcted fund5 2024 Total funds 2024 Totsl fund5 2023 Income from listed investments 27,128 370 27,128 370 27,306 77 Interest receivable 27.498 27,498 27,383 Total 2023 27,383 27,383 RalsSng funds Endowment funds 2024 Total funds 2024 Total funds 2023 Investment management costs 3,078 3.078 3.220 Total 2023 3,220 3,220 Pagè 10
THE HUGH NEILL CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH2024 Grant5 payable Unrestrlrted funds 2024 Total funds 2024 Total funds 2023 Grants 17,250 17.250 20,550 Total 2023 20,550 20,550 31 March 2024 5 Aprll 2023 Grnnts comprlse.. Age UK tloncaster Alrohgl & Orug Service (The) All Saints Terrington PCC Boys & Girls Club South Yorkshire British Disabled An8ling Association Cauldwell Children 500 500 500 250 1.500 250 250 500 Cavendish Cancer Care 500 soo Chapter One linnovatlons for learnlngl CRES 500 Cutlers, Hall Preservation Trust IThèl DEC Pakistan Floods Appeal DEC Turkeylsyria Earthquake Appeal DEC Ukraine Humanitarian Appeal Emmaus Sheffield I,coo 1,000 1,000 1,000 Framework 500 Grimm &Co ZMIO Headon-cum-upton PCC Irlse International 500 5fMJ stening Books Newlife 3CKI Rethink Mental Illness 500 Salvation Army Dinnington ShefField Cathedral 1,000 1,500 I,ooo 1,500 shelter South Yorkshire Community Foundation 1,000 Page 11
THE HUGH NEILL CHARITY NOTES TO THE FINANCIALSTATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Grants payable- contlnued 31 March 2024 5 Aprll 2023 St Joseph's Action Fund St Luke's Hospice Wentworth Woodhouse 1.250 2,000 1.000 2.000 WoThJ5etts pcc Woodsetts Primary School 17.250 20,550 Support C05t5 31 Marth 2024 5 April 2023 Accountancy charges Legal fees Bank charges Administration costs 1,166 L122 3,720 80 2A45 2,596 7AII 3,798 Included withln the accountancy charges is thè independent examination. Tru5tees' remuneratlon and expenses During the period, no Trustees received any remuneration or other benefits12023- £nlll. During the period ended 31 March 2024, expenses totalling £135 were reimbursed or paid d1CtlY to l Trustee 12023 - £147 to l Tru5teel in respect of postage, stationery and other Offi costs during the period. Employees There wère no employees during either period. Page 12
THE HUGH NEILL CHARITY NOTES TO THE FINANCIAL sfATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Flxed asset investfflents Unrestr5cted funds Endowment funds Total 2024 Total 2023 Listed Investments At 6 April 2023 Additions 10.6(Ml 556.798 567.398 139,791 1139.867) 627,825 55.745 161,5471 139,791 1139,8671 Disp05als Revaluations 11031 10,939 10.836 154,6251 At 31 March 2024 10,497 567,661 578,158 567,398 Investment cash 16,550 2,632 19.182 5,402 At 31 March 2024 27.047 570,293 597.340 572,800 Historical cost 13.077 533,230 546.307 507,062 Crèditors: Amount5 fallin8 due within one year 31 March 2024 5 April 2023 Accruals 1.166 1.122 Page 13
THE HUGH NEILL CHARITY NOTESTO THE FINANCIAL sfATEMENTS FOR THE PERIOD ENDED 31 MARCH2024 io. Statement of funds Ststement of fvnds- current period Balance at 6 April Z023 Gain51 ILosse5) Balance at 31 March 2024 Income Expenditure Unre5trtrtedfvnds General funds 26,883 27,498 124,661) 11031 29,617 Endowmertfvnds Expendable endowment fund 563,260 IU1781 10,939 571.121 Totaloffvnds s.143 27,498 127,7391 IOA36 6(10,738 Statement of funds- prlor period Balance at 6 April 2022 Gains/ ILosse51 Balan at 5 April 2023 Income Expenditure Uftrestrlrtedfvnds General funds 25.580 27,383 124,3481 11,7321 26,883 Endowmentlunds Expendable endowment fund 619.373 13,2201 152,8931 563,260 Totulolfvnds 644,953 27.383 127,5681 154,6251 590,143 Oescrlpiions for the above funds can be found in the accounting pollcy In note 1.10. Page 14
THE HUGH NEILL CHARITY NOTESTO THE FINANCIAL STATEMENTS FOR THEPERIOD ENDED 31 MARCH 2024 ii. Anaty51s of net as5et5 between funds Analysis of net a35ets between funds- currènt perlod Unrestrirted Endowment fund5 tunds 31 March 31 Marth 2024 2024 Total funds 31 March 2024 Fixed asset invèstments Current assets Credltor5 due within one year 27,047 3.736 11,1661 570,293 828 597,340 4.564 11,1661 Total 29,617 571,121 600,738 Analy515 of net assets between funds- prlor perlod Unrestritted fund5 5 April 2023 Endowment funds 5 April 2023 Total funds 5 Apr51 2023 Fixed asset Investments Current assets Creditors due within one year 10,600 17.405 11,1221 562,200 1,060 572.800 18,465 11,1221 Total 26.883 563,260 590.143 Related party trakwctlons The charlty paid £2,00012023'. £2,CK)01 to St Luke's H05pice of which Lady Neill DL 15 President. The charity paid £l,IX)012023= £1,000) to South York5hlre Community Foundatlon of which Lady Neill DL is Vlce President. The charity paid £1,51X)12023: £1,500) to Sheffield Cathedral of which Lady Neill DL is a Patron. The charity paid £l,(LKJ12023.. £nill to St Joseph'5 Catholic Church of which Lady Neill DL is a member of the reflection group. Pa8e 15