Charbty Reglstratlon No. 279747 THE HOLLANDS-WARREN FUND TRUSTEES. REPORT AND iINAUDITED ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Pr8pared by.. Brach8r5 LLP Somorfteld Hous& 59 London Road Mald8tone Kent ME168JH HOL0042.4
THE HOLLANDS-WARREN FUND LEGAL AND ADMINISTRATIVE INFORMATION Trustees K Bannlsler A S Palmgr DWHBell Charity number 279747 Piln¢lpal Address Som*rf8ld House 59 London Road Maidstono Ktnl ME16 8JH Sollcllor6 Brachars ilP Sornorflold House sg LoTrdon Road Maldslon& Kènt PAE16 8JH Investment advlsors Rathbonas Inve5tmanl Uanag8mont Ltd 8 Flnsbury Clrcus London EC2M 7AZ Independènt examlner Jam?5 Francls Ensors Accountants LLP Incubatrrt 2 The Boulevard Ent6rprise Campus Al(x)nbury W6ald Huntingdon PE28 4XA
THE HOLLANDS-WARREN FUND CONTENTS Page Trustees, rèport Indepgndent examln8rf8 raport statement of financial acbvlllés Balancè Sheet Noto$ to accounts 7-11
THE HOLLANDS-WARREN FUND TRUSTEES. REPORT FOR THE YEAR ENDED 28 FEBRUAR Y 2025 The Truste05 presonl Iholr rgpDrl and the unaudlted flnanclal 51atemètsis of the charity for Ihg year ended 28 F6bruary 2025. Tho Irust8es hav9 adopted the provision8 of th8 Statement ol Recommendod Practic ISORPI'Accounting and Reporting by CharM&s' IFRS 1021 In prgparlng the annual report ind finan¢lal 61a18m8nts ol thè charlty. The financ1818lat$m8nts have been prep8r¢d In accordanc9 with the accounllng policles sel tyjt In tha not88 lo the accounts and LY)mplywth th& charltws govèrnlng document, thg Charities Act 2011 and AcLountlng and Reporlng by Chariti98'. 8ta18menl of Recomm8nd8d Practice appllcoble to charfiies praparlng thèlr accounts In accordanco %lh tho FhaNlal Reporlng Standard appllcable in the UK ond Republ01 Irgland publlshed in O¢lob8r 2019. ObJe¢ts and actl¥Alles lor the public beneftt The object ol tho chailty Is to asslsl with funding the provlslon of temporary m6dlcal and Thurs1g 8èrvlc98 In the homè 8ndlor domè$tlc help. Followlng ConsultaOn wlth the Charity Commisslon the ¢haiiVs activ6ty boundary has b86n extendèd from the Borough of Maldstone to Kènl. Tha Truslg¢$ ¢onlinu8 to 8ttach Imwrtanoa to eD8uThng that the $8rvicg8 fund8d by Ihe charity benefit the p90ple ol fvlaldslona as a pfiorlty. Th9 Trusleo5 conffrm Ihal tY have relgrrad to the guldance conta1r1 In the Charity Comrnlsslon'8 general gvidan¢e on publlc benefit wh8n rgvlewlng thg Iiust's airn¥ obleclves and In th& plannSng of lulur& donations aThd grants. The Trvs198s accepl applicalion8 from Indivld(>818 and organ18allon8. Each appll(8llon Is conshjowd In ièlallon to tho objectives of trusL A¢hlevements and performance Durlng the year ended 28 Febru8ry 2025. th8 Trust6e8 approvod totsl grants of £110,000 to inStliu09. As s&t out In Note 2 to Ihg accounts, Ihe eharfty continu8d lo provld8 grant fundlng for nurslng cai& to Thg He8rl of Kenl Hosplc8. Al Ihe year, E50.000 r&malne(I payatAè lo Tho Blackthoin Tmst ov6r thè 3 years to 28 February 2027 In rdallon to tho gr8nt comm11rn8ntof £75.000 made In the 2024 year. Revlew or nnanclal posltlon and acllvilles The re8vlts for thg year tTe 591 out on Pag8 5. Total tncom8lor th8 y6arAmouDted to £91,40512024 .. £89.8791 r8presenUng a gross rgturn of 2.48%12024 .. 2.5%) on the closlng value of the Inveslmgnts. Grants made In the yBar amounled to £110.00012024'. £280,0Th)I represenn0 120.34%12024 .. 311.53%) of Income. After accountino loi other costs. which amoun18d lo £8,028 IDr the year (2024 .. £16,041) and portfollo m8nagèm8nl fees 01 £14.88712024 £14,807). the fund had a not Ic)ss of £41.50812024 nel l08s- £220.9691 before ir&v88tmenl porlfolio galns and losses. Slgnificant realised and unr8allsed oalns on Ihb Inveslm8nt portfdlo wore also recognissd during the year1£68,999 and £145,248 respecllvefyl roflgthnu market condition3. As a resutt, tha UnreSCtSd funds increased by £172,737 IY4 th8 y9ar lo 28 February 2Q25. The value ol the charftls Investment porlfollo, Indudlng cash hold foi relnv6stm&nt £9.26212024 .. £48.4521 arnountèd to £3.688,225 as at 28 Febrtrary 202512024: £3.587,3071. Page 1
THE HOLLANDS-WARREN FUND TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2025 Reserves lincludlng Reserves Poll¢yl Al 28 February 2025, lh8 charlvs vnrgslrlcled reserves amounted lo £3,678,02112024 '. £3,505.2641. Th& unresliiciad fund represents the amount av81lab18 for g8ng1&1 Charitable purpose8 al thè discr9tion ol th Irusle8s. The trii8teès' inienliDn Is to keep resorves al levsls $ulflclenl lo continuè to provlde Income whlch 111 enable them to provide donallons lo approved applicatlons. havlng regard to uThlorgsgon volatllNy Sn inves1mt market values. They beli8ve Ihe r88èrv¢s position at 28 Febmary 2025 was sati51aelory. Thè Irusi06s' Intontlon Is lo keep a balanc8 of Incom8 suffjdgnt lo provld& 8n0gh funds al all tlm8S to enable them lo ntInu0 with thoSr curr8ril In18nded commllments, consldgrlng potential f8lls In Incomè Welds &rbd InreSt ral85. The twst6es also wulre funds ¢0 make ofie oll dlslrlbutlon8 lor urgent ca#8$. At 28 Fabruary 2025 the charlty had fr88 re$prvg8 amounung to-£94212024.. £-33,5711. D&slgnatod funds at 28 February 2025 total £3.678,96312024 .. £3.538,8551- mte 8 foi d&lail$. The Trustees therefore antkipat& that thè Dvorall lèv61 ol reservos at 28 Fgbruary 2025 was sat55factory, as Wo118S 8ufflcienl lo fund Ihe planned ¢ontinu8d Ilnan¢lal support of The H88rt of Kénl Ho8PiC8, 81ackthom Trust and Spadework In th8 year ended 28 Fabruaiy 2025, assumlng donations wntlnuo al $1mil8r1ovels to those pald In the year ended 28 February 2025. Th8 TIus188s WIU also contlnue to consl(kr olhor fvndlng r4u6Sts as recelved durlng Ihg ngxt Iw&lva month5. Inve5trnent polKy The Irth$to08 have wid8 powerB of Inveslmgnt In accordance the govornlng Instrument Ithg charltable trust deed) and tha provlslons of thg Charitie8 Act. In coDlun¢tlon wllh the chArity's Inv85th)ènt advlsors, tho value of tha capital of Ihe fund wheig posslblg, thus produclng a reallsllc lrncomo from thg capital whlch can therk dlstrlbuted. Whgre &pproprlat8, lh8 Iru$tees rnay dlstrltyjte capltal In lurtharancg of thè oblOGts of the (*arlty. The Ttustees hav8 Tevl8W0d th8 m&lor risks lo whlch the charlty Is exposed and system8 have beon 88t8blished lo mlllgate these rlsks. The funds inva$t8d and those held on deposlt arg 8ubl6ct lo Ihg Compl1an proc8dur8s of both thB charSVs Invts$trnent advlsors and Brachers LLP. Golng ¢on¢em The TFu4t8as have no reason to believe that Ihg charity W11 b8 unab18 to conlinug 0ratIng a8 a goiw concern (able to pay11 debls and grant LX)mmltrnents as they fall duel for a pgriod ol 8t leasl 12 monlh6 from the dale of approvlng Ihase a(rounts. Pag8 2
THE HOLLANDS.WARREN FUND TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FE8RUAR Y 2025 structure. gov?rnancB and manauement The ¢harlly was defined by a deed of trust daled 18 June 1977, pursuant to the will ol G8orge Hollands. who i8d on 27 October 1938 and arlsing on the d&alh of the lormei Ille tenanl Miss Ali¢e Bertha Hollands. 11 wa5 r8g151grEd as a charity on 2 April 1980 having as its gov8rning docurn8nl a declaratK)n of Irusl rJat8d 19 Oclob&r 1979. Ils registered nufflber 1$ 279747 The existing Trusiees who servod during th8 y8ar wer8 K Bannister, A S P8lmer and D W H B811. The Trustees comprise prof8ssionals wilh appropriate skills lo propeily manage Ihg trust assois and apply those assèt5 in accordance wilh the trust deed. given their knowl8dGe of the Ioc818Fea. Any changes in Iru51ees are subject lo formal approval by all Irusle&s in office. Approved by the Irustees and signed on their behalf.. K Bannlster Trustee D8led". 1-1-a£ Page 3
THE HOLLANDS.WARREN FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HOLLANDS-WARREN FUND I tep ID thè Iruslees on my examlnalion of tho accontS of th8 Hollands-W#rr8n Fund foi th6 year onded 28 F8bwary 2025. whSch ar& sol out on pages 5 to 11. RespDn$lbllllles and basls of report A3 the charfly ttust69s of the Tiust you are r8SPDnsiblg foi th8 pi8par8llon ol tho aw)vnts In aeeordanc8 wmh the requirements of Ihb Chadll&s Act 2011 Ithe'Acl'l. I r8POrt In rè$pecl ol my exaMInatOn of thè Trusfs aonts carrfed out under sacllon 145 of th& 2011 Act and In Carn0 out my examlnal on I hav8 lollDwed 811 th8 apjlcable Dliectk)n¥ gN8n by th8 Charity C¢Mmls¥ion under 9eclon 146ISXb) of Ihg A¢t. Independent examiner's Stat•menl I have compl818d my gxarninatbn. I confim that no material mattgrs have coffle lo my attentw)n in t)nneCtIon with th8 8xamknaUon glvlng me cau88 lo beligvg that In any materfal re$t.. 1. acc?untlJg rocords w6re not kept In respect of th8 Tru81 as requirgd by seclim 130 of the ACL 2. the accounts do nol accord wlth those r8eoids', 01 3. the accounts do not comply wllh the appllcdble rgquirem8nl8 wncgrnlng the fomi and cont6nt ol accoun18 881 out in th8 Charflles (Accounls and Roporlsl Reuulatlons 2008 olher than ally requirement that th6 accounts glve a true and fall VIe whi¢h is not a rnaltor consldèr&S as part of an Independent 8x8mingtion. I hava no concerns and havg ¢x)ma aeross no other malters In conngcllon wllh th8 examlnalion to whlch altontlon shauld b8 drawn In thls rèport In order to 8nabl8 a propgr und8rstandlw of Ih8 acwunts to be re@d). Jamas Francls Ens8 Accout)tants LLP Incubalor 2 Tho 8oulevard Enl8rprlso Campu$ Alconbury Wveald Hunlingdon PE28 4XA Daied.. Page 4
THE HOLLANDS.WARREN FUND STATEMENT OF FINANCIAL ACTIVITIES FOR ThIE YEAR ENDED 28 FEBRUARY 2025 Unrestrleted Fund5 Vnre51rlcted Funds Year ended 28 February 2025 Year ended 29 February 2024 Notes INCOME FROM: Invoslments Depos41 aecounl 8nd oihgr Intgie81 89,611 1,794 89,305 574 TOTAL INCOME 91,405 89,879 EXPENDITURE ON.. Costs of raising funds Inv8slment fnanagers legs 14.887 14,807 Charftable a¢vItIeS Granis payable 110,000 280,000 Other costs 8,026 16,041 TOTAL EXPENDITURE 132,913 310.848 NET ILOSSIIINCOME FOR THE YEAR 141.508 1220.g891 OTHER RECOGNISED fjNS Wet 9ain on inveslmgnl$ 214.245 33,541 MOVEMENT IN FUNDS 172.737 1187,4281 TOTAL FUNDS BROUGHT FORWARD 3,505.284 3.892,712 TOTAL FUNDS CARRIED FoRwRD 3,e78.021 3,505.264 Page 5
THE HOLLANDS-WARREN FUND BALANCE SHEET AS A T 28 FE8RUARY2025 28 February 2025 29 February 2024 Notes FIXED ASSETS Inve5trneDIs 3.688.225 3.587.307 CURRENT ASSETS Debtors Cash al bank and in han 51,776 184,8e7 51.776 164,867 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 136.9801 1186.8901 NET CURRENT ASSETSIILIABILITIESI 14.796 122.0231 TOTAL ASSETS LESS CURRENT LIABILITIES 3,703,021 3,565.284 CREDITORS.. AMOUNT FALLING DUE AFTER MORE THAN ONE YEAR 125.OtK)I 160.0001 NET ASSETS 3,678,021 3,505.284 REPRESENTED BY Unre8lricl8d funds Designated funds G8n8ial funds 3.678.963 19421 3.528.855 133,5711 Total unreslricted funds 3,678.021 3.505,284 Approv&d by the Tru51ees on K Bannister Trustee Page 6
THE HOLLANDS-WARREN FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2026 1 Accountlng pollcles 1.1 Ba81$ ol prepAralion The Hollands.Warran Fund Is a charity regist&r1 wllh the Charity Comrni88ion In th8 Un11ed Kingdorn England & Wal881 IN 2797471. The addross of the reglsttrrod olllce Is SornorNold House, 59 London Road. Maldstone. K8nt. ME16 8JH. The Iinanclal stslem8nts have been prbpaffjd In aceordance wilh Accountlng and Reportlng by Charllias.. StRt6ment ol Rscommend8d Praetlc8 ISORPI applicabl8 tts charlties preparfry their ac(x)unts In accordance wllh the Financlal Rawrting Standard applleablt In th8 UK and Republlo of Iroland IFRS1021 issued In Oclobei 2019, the Finan¢ial Reportlng Standard applic8ble in th8 UnSled Kingdom and R8publlc of Irèland IFRS1021, the Charities Act 2011 and UK Generally Ac¢&pt8d Pr8cIi¢8 The charlty con$Ututas a publ1¢ benefll enllly a8 deflned by tho SORP. The charity has opted not to popar6 a cash flow statement for Ihg ffnan¢lal pgrlod, as p8rmltted by the 2019 Statement of Recommanded Pracdca. The financial statèments havg beon prepar8d la give 8'true and falr VI8 and hav8 d8parted fmm the Chariti¢s (Accounts and Rery)rt$l Regulallons 2008 only lo thg oxtent r&quired to prDMdg a'lrue and falr i9w'. This departuro has Involved fdlowlng the Accountlng 8nd R8PJrtlng by Charllie8'. Statement of R8comm8Trd8d Pradlc6 appllcablo lo charllles preparing Ihelr accounls In accordance wllh the Flnancial Reportlng Standard applleable In thg UK and R8publlc of Ireland IFRS 1021 i88u8d in Octob8T 2019. Th8 Ilnèn¢ial ststements are preparod on a golng ¢oncern basls undgr th8 hlslorical ¢03t ¢onvention, modifiéd to Include c8rtain itetlls at falr valuo. Thg flnanclal stal$menls are presented In steding whlch Is thè fLtnclional ryjrroncy ol the ChatY and rounded to th9 Treare81 £. The signlficant aecounllng pole$ appllod In the preparalon of tkne fln8nclal $18t&m8nts arg $81 out below. Th9 pollcles havo bgen conslslenlly applled to all yoars presènted unless otherwsg stated. 1.2 Income reoognition Donallons,18garJg5 and other forms ol voluntary Income are CogniSed 88 Incorne wheTh recelvable, 6XCOPt Insofar as Ih8y ar8 incapable of financlal maa5urement. IncLwe from Investrnents Is rgcognlsgd on an accrvals basls. 1.3 Expendllure recognition All exp8ndilure Is aceounted for on an accwals ba8is and has b88Tr cla88ifled undgr headlngs that aggregate all tost5 rdatod to the calogory. Grant expendSlur& Is recogni8ed whèn awaiéed to tho re¢lplont. Tho expenge Is IrlUdd on an aceruals basis In Ihe year In which a lagal or construellvg obllgauon to pHy tho yrdnt arlses. Costs of ralsing funds are those In¥estmgnt manag8m8nl fe98 lor both IncoTh g9ngralJon and pla1 m8lntanan(. Chaiilable oclvllitss includo 9xpendllure assory8t8d wilh the maklng of giants and (m8tknns inclw18 both the direct costs and Indlrecl costs rglallng to thes8 acfjvlllés. on an a¢crLJal¥ bo8is. Page 7
THE HOLLANDS-WARREN FUND NOTES TO THE ACCOUNTS (CONTINUED} FOR THE YEAR ENDED 28 FEBRUAR Y 2025 1.3 Expenditure recognltlon Icontinuedl Irr6coverable VAT Is charg6d 8gain8t th8 ¢al6gory ol r9source exp&nd8d for whlch It was Incurred. 1.4 Investment$ Investments &r8 recognlsed al falr value whh Is norrnally the transaction pricè Bxcluding Iransacuon eosls. Subsequently they are mo88ur&d ot lair value wlth change8 rocffjnised in'nel galnsnosse8 on Invè6tmènls' In the Statgm¢nl ol FSnancial Acllvllles ISOFAI if shar?s are publicly tr8d8d or Ihglr fail valu8 can othenvlse be measured iellgbly. Rgallsod galns and losses 8rlslng on dlsposals are recognls8d In tha SOFA whon tho piLwd8 are rec61vabJ&. 1.5 Fund a¢¢ounflng The funds hold by the charity are unr8slrfctad funds whl¢h can b8 Used In aecordanc8 wllh the ehadlable objecllves at Ihts di5cretlon of th& lJu$lges. Deslgnatod funds cornprls& funds whkh havè been sel asld& 8t Ihe discret1 Df the Iru8tee speclllc purpos. The purposes and usas ol tha d&signaled fund5 arg sel out In thè notes ¢0 the flnanclal strdtements. 1.6 Cash and cash equlvalgnts CÈ5h is repr88enled by cash In halld atld d8poslls wmh ffn4nclal In8tlluUons rèpayablè wtthoul nally or nDli¢& of not more than 24 hour8, 1.7 Debtors and credltors receivablelpayable wrthln one year Debtors and cr8ditors wllh no sl&18d inl8r8sI rale and rectsiv8bl8 or payable wlthln ce year ar8 i•corded al transacllon prlce. Any106s6s 8rf8ing from impalimont are recognl88d In &xpendllure. 1.8 Golng Con¢em The financial statements have bèen prepared on a golng con¢oTn basls as thè trust88s bellevè that no mterial une8rtalnts'88 axist, Th6 trustees havg consldered tha lèv81 of funds held and the expec16d 1gv81 of inc0rn8 and oxpgndllure for 12 monlhs from authoiislng Ihe89 Ilnanclal ststements. Thèy belleve Ihol the e8tlrnal8d In¢omo and expandiluro Is sulliclent with the aBcutHulated r68ewves for thg cF¥ryrily lo be able lo continue as a golng concem. 1.9 Judgements and key sources of eslimatjon uneertalnty Accounting 8sl'matss and judgements 8Te conlinually evaluated and are based on hlstorical oxpertanee and othèr f•¢lors, Includlng oxpèctalions of fuluig events Ihat •r8 belleved to be rgasonable undèr the cirWLstaCe8. Page 8
THE HOLLANDS.WARREN FUND NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUAR Y 2025 Expenditure 2026 2024 Costs of ralslng fund¥ Investment wnaDagomanl costs 14,887 14,807 Charltable activllles Grallts lo Insiiiullons.. The Heart of Kent Hosplce Th8 Heart of Kent Hospicg Idonatlon towards new Hosplce) Spadework Llmitèd Hospic8 In the Wgald Hypo Hounds Blacklhom Tw$t 20,0ry) 20,11 150,0 30,000 90.000 8D,(x)O 110,000 28D,000 other costs L89al and administratbn 198S Independ8nt gxamlnatlon lees Irre¢ov8rabl& lthholdIng lax Bank charge8 Foreign èxG4iang8 dlflerencg 6,305 1,980 865 20 11,1441 12,694 1,890 461 8.026 16,041 Total 132.913 310,848 ReconGlli*lion of grants payable Commltrnenls 011 March 2024 Grants p8ld durlnu year Commltmgnls madè In year 245.000 1185.0001 20,000 135.000) 260,(M)O Commllm&nts at 28 Fèbruary 2025 60.000 245,000 Commllmen15 at 28 Fgbruary 2025 aTg P8y&blg as follttws.. Wllhin one y8ar InDle 61 35.000 Aftor more than one year (fio16 7 25.000 185,000 60.000 60,000 24S.000 Page 9
THE HOLLANOS.WARREN FUND NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUAR Y 2025 Trustees and related partles None ol the Trustee8 lor arjy psrsons conn8Cted wlth thènil rBc8ived any r8munaration or 8xpen$es relmburs8d during tho ye4r12024.' nono). Durfng th& year Ihe trust was ¢harg&d £6,30512024 .' £12,694) lor day lo day adrnlni8tration and occovntancy s8rvle6s by Brachers LLP, a ffirm ol 6ollcStor8. Al the year end the trust owed nll12024 .' £1,465> to Biach¢rs LLP. Employees Th8r8 ware no empby06s durfrwd the year12024'. none). Fixed asset IrÈv8tstm•nts 2025 2024 Llsted Investments Market valu8 at 1 March 2024 Additions al co81 Dlsposal procoeds Rea11sed gainB on dispoMIs Unreall8ed galns on revalualion 3,538,855 401.689 1475,826) 3.669,880 410,504 1575,0711 68,999 145,246 268.772 1235,2301 214,245 33,542 Market value at 28 February 2025 3,67B.983 3,538,855 C8sh 9,262 48,452 3.688,225 3,587,307 Hlstoiical co$1 of Investmenis 2,422,681 2,427,818 The portfolio was ctsmprf5ed as folh)ws'. EqulUé$ Flxed Intèrest Unll Trust Commoclltles Cash 2,801,660 485,868 319,546 77,889 9,262 2.743,553 401,9fj8 440,537 83.822 8.462 3,688,225 3,678.342 Pag810
THE HOLLANDS.WARREN FUND NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUAR Y 2Q25 6 Crodltor6: amounts falllng due wrthln one year 2025 2024 Other GlIorS Grants payabla (nolo 21 1,980 35,000 1,8 185,000 Tolgl 36.980 186,890 7 Credltors: amounts falling due Aftèr more than one year 2025 2024 Grants payabl8 Intste 21 25,000 60.000 8 Deslgnaled funds The Incomo funds of th8 charity 5neludè thB followtng deslgnatsd fund8 which hava baen sat asid8 Out of unreslrfBtod funds by Ih8 Iruslees for speafic purroses.. 1 MaTch New De8ignatlon8 2024 d¢$lgnation6 reka$ed 28 February 2025 Investment fund 3,538.855 615,984 1475,8261 3.678,963 1 March New D#slgnatiorts 2023 deslgnatlons rèleased 29 F8bTuary 2024 Inveslmenl fund 3,669.880 444,04e 1575,071) 3,536,8£5 Inve8tm8nt fund- theso funds ale Inve$led to maximls8 totsl rglum and gengrale ir¢ome. Page 11