Charlty Règistratlon No. 279747
THE HOLLANDS-WARREN FUND
TRUSTEES. REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
Prepared by.. Brachers LLP
Somerfigld House
59 London Road
Maidslone
Kent
ME16 8JH
571HOL0042.4

THE HOLLANDS-WARREN FUND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
K Harrington
A S Palmer
DWHBell
Charity number
279747
PrlnGlpal 4ddras$
Somerfield Housg
59 London Road
Maldslone
Kent
ME16 8JH
Sollcltors
Brachers LLP
Somerfield Htruse
59 London Road
Maldstone
Kent
ME16 8JH
Investmont advlsors
Rathbone Investment Management Ltd
8 Finsbury Clrcus
London
EC2M 7AZ
Indapgndent examiner
Michelle Wilkes FCA
Azels Audit Servlces
Globe House
Eclipse Park
Sillingbourng Road
Maldslon8
Kent
ME14 3EN

THE HOLLANDS-WARREN FUND
CONTENTS
P4ge
Trustees, report
Independent examlner's report
Statement of fln8nclal a¢tivities
Balance sheet
Notes lo the accounts
7-11

THE HOLLANDS-WARREN FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
Thg Trustee5 pres8nl their report and the unaudited financial statements of the charlty for the year ended 28
Fobruary 2022. The Iruslees have adopted the provisions of the Statement of Re¢ommended Practice
{SORPI'Acoounling and Reporting by Charities. IFRS 1021 In praparlng the annual report and financlal
stal8monls of the charity.
The financlal slalements have been prepared in accordance with the accounllng policies sel out in the notes
lo tha accounts and ¢(￿pIY with the charivs governing document, Ihe ChariU&s Act 2011 and AccountiThJ
and Reportlng by Chartli&s'. Staltsment of Recommended Practice applicable lo chari11ts5 prgparing their
accounts In 8ccord8nce wlh the Financial Reporting Standard applicable in tho UK and Republic of Ireland
publlshèd In October 2019.
Objects and actlvltlgs for tho publlc bgngflt
Thè oblect of thè ¢harily is to assist with funding Ihe provision of temporary medical and nurslng serv4ces Irb
Ihe home andlor domesti¢ help. Following ¢onsullaliori with the Charity Commisslon thg ¢harity's aclivty
boundary has boen extended from the Borough of Maidslone lo Kent. The Trustees ¢onlSnue lo attach
importanc6 10 ansuring that Ihg servi¢&s funded by the charity benefit the people of Maldslone as a prforily.
Th& Trustaès eonf1rm that thgy have referred lo the guidance contained in the Charfty Commisslon'8 gènerdl
guldancè on public b9nefit when revlewing tho trust's aims and objectives and In th& planning of fvlur8
donallons and grants.
Tha Trusteès a¢¢ept applications from individuals and Organisations. Each appllcalk)n Ss conslder8d In
ralatlon to th8 obj$cliv95 of the trusL
Achel￿Mont$ and performance
During tha yaar 6nd8d 28 Fgbwary 2022, the Truslo9s approved lolal grants of £137,000 to inslSlulSons.
As set out In Nol$ 2 to the accounts, the chavity continued lo provlde grant funding for nurslng care lo Th&
Heart ol Kent Hosplce, and Rapld Respon88 Iformèrfy Twlllght NursSng Sarvicesl an Inlllallve of The Kent
Communlly Health NHS Trust.
In addition this year, the trustees approved Nvo addltlonal grants Its The Blacklhom Trust and Spadeworf(
{amounting lo £50,000 and £10,000 respectively). Thè Iru$lg9s also approved funding lo the Blackthorn
Trust amounting to £20,000 per annum for thre8 y&8rs
Al the year 8nd, £5,433 remalned payable lo Rapld Response over lh8 three year8 to 28 F8bNary 2023 in
relatlon lo a grant commllmenl of £135,749 made in the 2019 financlal ￿ar 8nd £40,000 remalned payable
lo Ihts Blacklhom Trust over the three years to 28 February 2024 In relauon lo the grant commltm8nl of
£60,000 made In tha 2022 year.
Ravlgw of flnanclal pogltlon and •¢tlvitles
Tho results for thg year arg sel out on Page 5.
Total Income for the yoar amounted to £95,501 (2021 £82,1561 representing a gross return of 2.61 Yo on the
closSng value of the inveslmenls. Grants made in the year amounted to £137,00012021 £106,000)
r6pr898nllng 143.450/012021 128.94%) of Income.
After accounung for other costs, whl¢h amounted to £12853 for the year12021 £12.6701 and portfolio
manag&m6nl fges of £15,55812021 .. £13,671), the fund had a net loss of £69,010 before invoslmenl
portfollo gains and1osses. Significant reali5ed gains and unrealised galns on thg Invoslmenl portfolio were
8150 re¢ognised during the year1£89,448 and £77,323 respeclivelyl rgfleetlng market conditions. As a result,
the unreslricled funds increased by £96,861 in the year lo 28 Fgbruary 2022.
The value of the charills investment portfolio, including cash held lor reinvestment of £36,54012021
£46,1151 amounted lo £3,652,515 as al 28 February 2022 12021 . £3,525,2e71.
Page 1

THE HOLLANDS.WARREN FUND
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 28 FEBRUAR Y2022
R8seMs {Includlng Reserves PollGyl
At 28 February 2022, the charws unrestrfct@d r6s8rvgs amounted to £3,629,51012021 '. £3,532,849). The
unreslricled fund reprtrsenls thé amount avallabla for ganoral ¢harilable purposes al the discretion of the
Irustegs. The truslÉos' intention Is to keep reserv6s a116vels sufficient lo continue lo provide income which
will enable thgm lo providtr donatlons to approved appllcallons, having regard to unforeseen volalility in
nveslm8nl market values. Thay b611av6 th& raserv6s poslllon al 28 February 2022 was satisfactory.
The trustees. Inlonfjon is lo kgap a balanoa of Incomè suffi¢i&nt lo provide enough funds al all lime8 lo enabl8
Ihern lo continue with their current Intènded commllmants, ¢tsnsidering potential falls in income w'elds and
nleresl rates. The Irustotrs also r6qulrè funds lo makg one off distributions for urgent cases. At 28 February
2022 the Charity had free ièsèrv&s amounting to £13,53512021.. £53,497).
Designated funds at 28 February 2022 lolal £3,615,97512021.' £3,749,1521- $99 note 9 for details.
The Trustees therefore anlicxpale that the oveTall level of reserves at 28 February 2022 was sallsfactory, as
well as sufficient to fund the planned continued financial support of The Heart of Kent Hospice, Blackthorn
Trust and Rapid Response in the year ended 28 February 2023, assuming donallons conJnue al simllar
lgvels lo those paid in the year ended 28 February 2022. The Trustees will also continue to consld&r olhor
funding requesls as received during the next twelve months.
Investment policy
The trustees havè wlde powers of Investment in accordance ￿th the govemlNJ Inslrumènl Ith8 charftsblè
trust deed) and the provlslons ol the Charities Act. In conlunctlon wllh the charity's investmonl advisors, the
value of the ¢apitsl ol the fund where possible, thus produclng a reallsllc income from the ¢apSlal whlch can
then be dlslrlbuled. Whera appropriate, the trustees may dislrlbule capital in furth8r8nc8 tsf the objects of the
charlty.
Thè Truste6s have reviewed the major risks to which the charity Is èxposgd and systems have bee
gstsbllshed lo mltlgata these risks. The funds invested and thosè held on dgPOs11 are subject lo the
complSan¢o procsduras of both the charity's investment advlsors and Brachers LLP.
The Trustees have consldered the Impact ofthe Covld Pandemlc on the chatlty's funds and OPaTalSons. They
believe they hav8 iaken adequate steps lo mlllgale tha extent of any 8dv@rse Impact and hav8 no reason to
belleve that committed grant fundlng obllgallons al 28 February 2022 wlll not be fulfllled.
Golng concern
The Truslegs have no reason lo belleve that th8 charlty wlll bg unable lo conunue operatlng as a golng
¢oncom lable lo pay11 debts and grant commllmenis as thgy fall duel for a perfod of al18asl 12 months from
(he dale of approvlng these ac¢ounls.
Page 2

THE HOLLANDS-WARREN FUND
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 28 FEBRUARY 2022
Struc￿re* gov•rnancg and managgmgnt
The charfty wa8 defined by a deed of trust dated 18 June 1977, pur8uanl to the wlll of George Hollands, who
died on 27 October 1938 and arising on the death of the former life tenant Mlss Allce Bertha Hollands. Itwas
registered as a charlty on 2 April 1980 havlng as ils gove¥nSng document a declarallon of trust dated 19
Oolober 1979. Its registered number Is 279747.
The exlstlng Trustee$ who 86rved durfng the year were K Harrington, A S Palmer and D W H Bell. The
Tiust8es comprise professionals ￿th approprfale skllls lo properly manage tho trust assets and apply those
aS8els In acGordancE ￿1￿ the trust deod. glven Ihelr thovledge of the local area.
Any Ghange8 In Iru8tees are sublectto fomal approval by all trustees In offlce.
Approved by the trustees and sloned on their behalf..
K Harrlngto
Trustee
Dated.. l ?- l L- 20Z2_
Pag6 3

THE HOLLAND&WARREN FUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE HOLLANDS-WARREN FUND
I report to the Iruslees on my 8xaminalion of the accounts of the Hollands-warren Fund for the yoar
anded 28 Fgbruary 2022. whSch are sel out on pages S to 11.
R8sponslbllltlès and basls of report
As the charity trustees of the Trust you are responslble for tha preparatlon of the accounts in
accordance wllh tha roqulr6mgnts of tha ChariJes Act 2011 Ithe'Act'l.
I report In respect of my examination of th8 Trust's accounts ￿arrfed out under sectlon 145 of the 2011
Act and In caryng out my examlnallon I have followed all the appllcable Dlrectlons glven by the
Charlty Commlssion under section 145(5llbl of Ihg Aol.
Indgpondont examlngrfs statement
I have completed my examination. l Confirm that no material mallers have come lo my attention in
connection with the examination giving me cause lo believe that in any matetlal respGcl=
1. a¢¢ountlng reoords were nol kgpl In rgspg01 of the Trust as requlrad by section 130 of the Act.,
or
2. the accounts do not accord with thosg records- or
3. the accounts do not comply with th& applicable requirem&nls concernlng the fomi and cont8nl
of accounts sel out in the Charities (Accounts and Rgportsl Rggulalions 2008 other than any
requlremenl that the accounts give a 'true and fair vl6w' which Is not a malt6r consldarad as
part of an Sndgpendenl gxaminallon.
I have no concerns ar)d have corne across no other mallers in connection with the examination to
which allenlion should be drawn in this report in order lo enable a proper undarslandlng ol Ihg
accounts lo be reached.
Mlchelle Wilkes FCA
Azels Audll Services
Globo House
E¢llpse Park
SStUnobourng Road
Maidstone
Kent
ME14 3EN
Dated.. 19 Decetnber 2022
Page 4

THE HOLLANDS-WARREN FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
Unreslrf¢tod
Funds
Unreslrlctod
Funds
Yoar endod
28 February
2022
Yoar onded
28 February
2021
Not8s
INCOME FROM:
Invesbments
D8POSIt account and other interest
95,501
82.160
TOTAL INCOME
95,501
82,156
EXPENDITURE ON:
Costs of ralslng funds
Investment manager's lees
15,558
13,671
Charltablo actlvltlos
G¥anl8 payabl8
137,IXIO
106,000
other costs
12,853
12,670
TOTAL EXPENDITURE
165,411
132,341
NET ILOSSIIINCOME FOR THE YEAR
169,9101
150,1851
OTHER RECOGNISED GAINS
Net gain on investments
166,771
327,687
NET MOVEMENT IN FUNDS
96,861
277,502
TOTAL FUNDS BROUGHT FORWARD
3,532,649
3,255,147
TOTAL FUNDS CARRIED FORWARD
3,629,510
3,532,649
Page 5

THE HOLLANDS-WARREN FUND
BALANCE SHEET
AS A T 28 FEBRUARY 2022
28 Fèbruary
2022
28 February
2021
Notes
FIXED ASSETS
Investments
3,652,515
3,525,267
CURRENT Assyrs
Debtors
Cash at bank and In hand
176
35,298
28,239
26,239
35,474
CREIYITORS: AMOUNTS
FALLING DUE WITHIN ONE
YEAR
129,2441
124.326>
NET CURRENT {LtA8ILITIES}IASSET8
13,0051
11,148
TOTAL ASSETS LESS CURRENT LIABILITIES
3,649,510
3,536.415
CREDITORS: AMOUNT FALLINQ
DUE AFTER MORE THAN ONE
YEAR
120.0001
{3.7661
NET ASSETS
3,629.510
3,532,649
REPRESENTED BY
ed
Deslgnaled fvnd8
G6neral funds
3,615,975
13,535
3,479,152
63,497
Total unre8lrlcted funds
3,629.510
3.532,649
Approved by th6 Trustees on I g- 12 IOZ.2-
K Harrlnoton
Trustè&
P8g6 6

THE HOLLANDS-WARREN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
l A¢¢ountlng pollcley
1.1 B0818 of prgparatSon
The Hollands-warren Fund is a charity registered with the Challty Commission in the United Kingdom
(England & Wales) INQ 2797471. The address ol the registered office Is Somorfleld House, 59 London
Road, Maidslone, Kenl, ME16 8JH.
The financbal ststemenls have been prepared in accordance wth Accounllng and Repothng by
Charities.. Stslement of Recommended Pra¢li¢e ISORPI applicable lo charities preparing Ihelr accounts
in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS1021 Issued In Octobef 2019, the Financial Reporting Standard applicable In the Unlted Kingdom
and RepublSc of Irgland IFRS1021, the Charities Act 2011 and UK Generally Accepted Practice. The
charity conslitules a public benefit entity as deflned by the SORP.
The charlty has opted not lo prepare a cash flow statement for the flnanclal perlod, as pemitted by the
2019 Stslement of Recommended Pracllce.
Thg flnandal statements have beon prepared lo glv8 a 'true and fair vieW and have departed from the
Charities (Accounts and Reports) Regulallons 2008 only lo the exlenl ￿qUired lo provide a 'lrue and f8lr
vlew,. Thls departure has Involvèd following the Accounting and RepDrUng by Charltles.. SÉatemenl of
Recommended Practlce applicable ID charfNes preparing thelr accounts In accordance with the Flnancial
Reporting Standard appll¢8bl6 In the UK and Republic ol Ireland {FRS 1021 Issufjd in October 2019.
The financial statements are prepared on a going Concern basls under the historical cost conv&nllon,
modifled lo Include certaln Items al fair value. The financial stalemfjnts are presented In sterling whioh
is the functional currency of the ¢harlty and rounded lo the nearest £.
Thg ¥lgnificanl accounting policlgs applled In the preparallon of these financial slalemenls are sel out
below. These pollcies havè been consistently applied lo a15 years presented unless othe￿Ise slated.
1.2 Income rocognltlon
Donations, legacies and other form5 01 voluntary incomo ar6 rocognlsed as Sncome when receivable,
8x¢opI Insofar as Ihoy are Incapable of financial measurement.
Income from investments is recognised on an accruals basls.
1.3 Expondlture recognition
All expendllure Is a￿OUnted for on an accruals basls and has been Gl8ssSfled under headlngs that
aggregate 811 costs related to the category.
Grant expenditure Is recognised when awarded lo the reclplenl. The expense Is Included on an ac¢ru818
basls In the year Sn whlch a legal or construotlve obllgallon lo pay the grant arises.
Costs of rdlslng funds are thos8 Investment management fees for both Income generallon and capital
malntenance.
Charitsble 8ctivllies Include expendllure assodaled with the making of grants and donallons and indude
both the direct costs and indirect costs relating lo these activities, on an accruals basis.
Page 7

THE HOLLANDS-WARREN FUND
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
13 Expendlturfy racognltion Icontinued)
Irrecoverable VAT Is charged against the category of resource expended for whlchll was Incurred.
1.4 Investments
Investments are recDgnised al lair value which is nomially the transaction price excluding transaction
costs. Subsequently Ihey are measured at fair value with changes recogni58d in 'nel gainsllossgs on
Inveslmenls, In the Statement of Flnanclal Acllvllles ISOFAI If shares are publlcally traded or their falr
value c8n olherwlse be measured reliably.
Realised gains and losses arising on disposals are recognised in the SOFA when the proceeds are
receivable.
1.5 Fund accountlng
The funds held by the charity are unrestricted funds whlch can be used In accordance wllh the
charllable objectives at the discretion of the trustees.
Designated funds compris2 funds which have been sel aside at the discretion Df truslee for specific
purposes. The purposes and uses ol the designated funds are sel out in the notes to the financial
slatemenls.
1.6 Cash and cash gqulval8nts
Cash is represèntad by cash In hand and deposlts wllh flnanclal Inslllullons repayable without
penalty or notice of not more than 24 hours.
1.7 Debtors and credltors receivablelpayable within one year
Debtors 8nd credllors with no slated Interest rate and recelvable or pay8ble wllhln one year are
recorded 81 tr8nsa¢llon price. Any losses arislng from Impalrrnenl are recognised In expendllure.
1.8 Golng Concern
The financlal statements havo been prepared on a golng concern basls as the trustees believe that no
matsrlal un￿rtain¢s8$ exisL The trustees have considered Ihe level of funds held and Ihg expeGled
level ol income and expenditure for 12 months from aulhorising these financial stslements. They
believe that the esliwnaled income and expenditure is sullicienl wilh the accumulated reserves for the
charity lo be able lo conllnue as a golng concern.
1.9 Judgoments and key sources of estimation unogrtglnty
Accounting eslimales and judgements are continually evaluated and are based on historical experlence
and other factors, Includlng expeclallons of future events Ihal are bellevod lo be reasonable under the
drcurnslances.
The trustees belleve the Impact of the Covid Pandefflic has not been signlficant on the charlty's
operallons at the Ilme of approvlng these a¢o)unls. No otherludgem6nls or key assumptions were
made In the prep8r2tion of these accounts.
Page 8

THE HOLLANDS-WARREN FUND
NOTES TO THE ACCOUNTS {CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
Expenditure
2022
2021
Costs of raising funds
In￿stment management costs
15,558
13,671
Chorltable actlvltlos
Grants lo Instllutlons..
The Heart of Kent Hosplce
The Heart of Kent Hospice- Covid grant
Spadework Limited
Blackthorn Trust- Covid grant
Blackthorn Trust
17,000
16,000
60,000
10,000
30,000
110,000
137,000
106,000
Other costs
Legal and admlnlslrallon fees
Independent examinafjon fees
Aocounlancy fees
Irre¢overable wiiholding lax
Foreign exchange dlffgrgnce
9,800
2,520
480
808
17551
10,303
2,340
976
19491
12,853
12,670
Total
165,411
132,341
Reconclllatlon of grants payable
Commitments al 1 Ma￿h 2021
Grants pald durlng year
Commllmenls made In y&ar
23,766
{115,333)
137,000
62,099
1144,3331
106,000
Commitments al 28 February 2022
45,433
23,766
Commltmenls a128 February 2022 are payable as follows..
within one year Inole 7)
25,433
Aftgr more It)an one year (note 81
20,000
20.0
3,766
45.433
23,766
Page g

THE HOLLANDS-WARREN FUND
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2022
Trustoos and rolatod partlas
None of the Truslaes {or any persons connected wllh them) received any remuneration or expenses
relmbursed durtng the year {2021.' none}.
Durfng the year tho trust was charged £9,80012021 £10,303) for day lo day admlnlstr8tlon and
8¢Gountsncy servlces by Brach8rs LLP, a firm of SDlicllors. One of the Trustees. K Harrington, was
employed by Brachers LLP but has slnce retired. At the year end the Iwsl owed £1,92112021 Nill lo
Brachers LLP.
Employees
There were no employees during ihe year12021= nonel-
Flxgd a$$9t Invpstments
2022
2021
Listed Investments
Markgl value at 1 Maich 2021
Additions al cost
Disposal proceeds
Realised gains on dlsposals
Unroallsed gains on revaluat(on
3,479,1 $2
122,920
11 $2,868)
3,269.060
223.970
1341,5651
89,448
77,323
13.601
314,086
166,771
327,687
Markot value at 28 Februory 2022
3.615,975
3,479,152
Cash
36.540
46,115
3,652,515
3,525,267
Hlslorfcal cost of investments
2,197,976
2,244.365
There was one material investment that comprisod more than 5Vo of the total market value of the listed
Invostmenls portfolio al 28 February 2022. which was Polar Capital Teohnology al 5.32% of the portfollo.
The portfolio was comprlsed as follows..
Equities
xed Interest
Unll Trust
Commodities
Cash
2.749,477
431,791
355,723
78,984
36,540
2,632,754
455,711
321,705
68,982
46,115
3,652,51 S
3,525.267
Page 10

THE HOLLANDS.WARREN FUND
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2022
6 Debtors
2022
2021
Accrued Interest
178
7 Credltors: amounts falling dua wlthln one year
2022
2021
Other creditors
ants payable (note 21
3,811
25,433
4,326
20,000
Total
29,244
24,326
8 Creditors- amounts falllng dua after more than ona year
2022
2021
Grants payable Inole 21
20,OIX)
3,766
9 Doslgnatod funds
The Income fltnds of the charity include the follo￿ng deslgnaled funds whlch have been set aslde out of
unreslricled funds by the trustees specffic purposes..
1 Mar¢h
New Dèsignations
2021 designations
roloasad
28 February
2022
Investment fund
3,479,152
289,891
1152,8681
3,615,975
1 March
New Da8lgnalions
2020 d•signatlons
relea$ed
29 Fgbruary
2021
Investment fund
3,269,060
551,e57
1341,565)
3,479,152
Inveslrnenl fund- these funds are Invested to maximise total return and generate income.
Pagè11