Charlty number: 286350 THE CHARLES LirrLEWOOD HILL TRUST Trustees. Report and Financlal Statements For the Year Er1 31 Docèmber 2023
THE CHARLES LlTfLEWD HILL TRUST C¢)ntonts Pag• R•feronce and adminlstrnliv• details of th• Charfty. 118 Truèt••8 and advisern Trustses, report Indepondent audltors. r•wl ¢)n the financw slatwnonts Statsm•nt of finanelal actl¥itl•s 10 Balance $he•t 11 Notes to thè flnanclal st•l•m•nts 12-22
ThE CHARLES LFTTLEWOOD HILL TRUST Referènce and Prtlmlnlstrallvo Dotalh of th• Charlty, Its Tntsteos •nd Advisers For th• Yoar End•d 31 DOrnr 2023 Trustses CWLB THFar N R Savryy JDPews Charity r•gSst•r nufflr 286350 PYln¢lpal office PO BOX 10454 Nollingham Noth'nghamslyre NG5 OHQ Ind•p•nd•nt audltor¥ PKF Smith CowAudit Limited StstU Auditors 2 Lace Martel Swore Nottingham NG1 1PB Sollcttors Keystone Law mited 48 Chancery Lan8 LorKlon WC2A 1JF Invèstment Advlsèws 8tt & Coc&e knmiled 5 Opie Street Norwith NR1 3DW Page 1
THE CHARLES LITTLEW0 TRUST Trust0. Report For the Year Ended 31 DK•rrkn 2023 Th8 trusle8s present their annu81 P)rt together vAth the •TI¢d finwal stalemenls for the year ended 31 December 2023. The fmancial statements have been prepared in accordarKe the accounthng policies set out in note 1 to the accounts arKI CoMY the terms of the wll under whKh the trust was established, the charib.es Act 2011 arKI Financid ReF)Mwig Standard 102 Tr Fryncial Reporting SlarKlard 4¥pbicable in the UK and RepLJlic of Ir81and IFRS 1021 WKI the Charilies SORP 2015 (SORP 2015). ob5KYes and •¢tlvltl•s . Pollclgs and obJecllve¥ The sole obpctive and a(aivity of the trusl is gvivj of grrtS. The trustees are ware that they must carry on the Charit$ activities for the public benefft and that must pay regard lo thè guidan on public benefit issued by the Charity Commis&on. In setting objectives and Plning for activits. the tnjstees have given due considerats'cm lo general guidance pubbshed by the Charity Commission relakn9 to wblic benefft. includfftg tho gudance 'Public benefit." Nnning a charity {P82)'. b. Strat•gi•s for aChV19 obJ•ctiv•s The trustees consider that the Charit$ aims and objectives aro fcff the pubk benefit srLce it is a wnt m&king trust and grants are only rnade to other charitable orgsaI1c not lo irwjividuals. c. Maln acllvltles und•rtak•n to furth•r th• Char6ty$ pun)os•s for the publk ner The Iwstees consider all lttefi applications m lo them by ¢haritabl& tyganisalions. Sh applications are leed by every trustee Eor lo th8 trustees, four.monlhty meetings and thseussed al suth meetings. Grants a awarded ai sh meelings to those organisations 4*ffiich the trustees collectively consider lo be worthy of their support. Grants arè aw¥ded wineipaly to instilutions based i)n level of reed and with geographical bias towards Notb'nghamshire and Norldk. Achl•v•m•nls and pwfornianc• a. Key yrfornian¢• Indl¢ators Key financial perfornwrKe i¢31(¥$ are thsojssed in deta"1 in the rev•wl of 1¥1.$ below. b. Revlew ol adMtI During the year the net income generated by the trust (after ¢h¥ging supikn costs but b8fore lakiTr3 account of realised and unrea"sed gainsnosses on investment assets) was £141.986 (2022". £161,051). During the year the trustees awarded grants amount¥ig in aggregate to £151.C¥)0 {2022' £123.5001. A breakdown of the grants made to organisations for £1,OtKI or can found in note$ lo the accounts. The deffiat of nel in¢ome over grants Tesujted in the accumuiaied inccrfne of charity lils free feseNesl decreasing from £91.793 10 £82,779. The nel after-gTanl deficrt generated by the Intsl Ibeth takry a(xoJnt of realised unrealised gainfthosses on inveslment assets} was £9,014 {2022." suwus of £37.551). The nel after-grant surplus for the yeaf {after laknro account of realised and unrealised 9ainslk•sses on VeIMent assets) was £223,548 12022." defiat of £593,892). The net assets of the tTUSt al the yeaT 8rKI amounted to £5,810.382 (2022.. £5.586.834). Page 2
THE CHARLES LirrLEIIWD HILL TRUST Trusle8s' Roport Icontlnued) Forth• Y•ar Endod 31 Drtombor 2023 Financial rnvt•w a. Golng concom After making appropriale enqimries. the truslees have a reasonable expedalion that the Charity has adequate iesources to continue in operational existence for the thseeable fLrture. For ttms reason, th continu8 to adopt the going toneem basis in preparing the finanua ststements. F1her details regarding the adopti of the gowig concern basis can be found in the ar£OtIrj FAI1. b. R•s•rves poli¢y It is the general policy of the trust to retain all of the caFilal wlmth comwises part of rt$ reseNe$ and to distribute each year through granls all of the trusfs income whKth is not used to meet its govemance and management costs. However, the trustees reserve the abilty to retain pwl of the trusfs income for any ye¥ as part of its reseNes and rnt to distn.bute the vthole of the unexperKled income rf in that year the trus¢ T1Ve$ insufficiont appli¢alb)ns lor grants 1¢h the trustees SId¥ werfthy of SUFWt dIOr the trustses believe th8 value of the Iru$f$ invgstments has fallen to a significant extent. ¢. Mat•r6al Inv•stm•nts poll¢y The Iruslees. investment assets are managed by investment a(fviseTS. The appointment of inve$lmenl a(fvisers is reviewed by the truslees periodicalty. The current advisers are Barratt & Cooke Limited who e employed c a dlsuetionary bass. They are inslructwj by the trustees to invest in a F110 whith wll generate a balance of incomè and growth wlh a Medlun-hh nsk wofile. During the ygar, the inv8slments 98nerated aggregate re.sed and uMealised gains of £232.56212022'. losses of £631,443). aggregate ¥aue of the investments, irKluding c8Prtal cash of £148.6C6 {2022. £113.9831. increased from £5,489,970 to £5.721.260. Tha ireaSe durir#J the y of 4.211AI compares *rylh a 9.01% increase in the PIMFA Grovllh Index, the Iwstees, chosen benchmwk (in 2022 the aggre9ale value of these inve3tment5 decreased over the year by 10.16% compared V•ith a Oeuease of 8.18% in the PIMFA Grovth Index in that or). Stru¢turei governan and manag8iixnt •. C¢)nslttullon The Irusl was estsblished under the wil of the lale Charles Liluvwcod Hill died on 6 Januw 1978 and is a registered charity (charity nthmber 2863SOI. Undw hi8 he dected that the tharitys fvnd should be used for such charitable ppose5 a5 the trustees wi Ihw absdute th"scretion consider fil. The Iwst does not actively raise funds bul seeks to ¢tinUe Ihe charitable gng requested by the testat carefijl stewardship of it8 existing resoLrces. Pagè 3
THE CHARLES LITTLEWOOD HILL TRUST TrUstS. R•port (eonllnwdl For th• Year Ended 31 December 2023 Structur•. govornanco and managemènt Icontinuèd) b. M•thods of appointmont or ohctlon of Tnlo8S Trustees are appointed as and sythen the corrtnuifvj tntstees think rrt Tr V+7K imposes no limitation on the perityJ$ for which twstees sha15 serve arKI r such hmrtalions have been made on the appointment of the cwrenl trustees. Because grants ar8 made principaly to organisations based in NoltinghamslN're and NcYolk. new trustees are likety lo be persons who reside n and are knowledgeable about charitable sIltt1onS In those counbgs. At theii four-monthly meetings. the trusltts agree the broad strategy aThJ weas of activity for the trust. induding considerats'on of grant makmg. Investment. reserves aml ri8k manag polKw and perforynance. The day lo day administrakn.on of the ganl processing and of the handliThJ of applicats.ons to consideralK)n by the Iruslees is undertaken by Mr D N kn"n(ky can b& ccrf#acted at PO Box 104S4. Noth"ngham. NGS OHQ. The Iruslees keep their skill requyemenls under revw. The trustees are erouraged to attend relevant extemal Irwning regard to relevant legislatth and ChYeS and thr role as trusteès generally. The induction Pe$S for any nethy apwinled trustee Ixjmpnses of a meeting or meth.ngs 1th covers the powers and responsibilrties of tfustees and the grant makn.ng {eSS adopted ty the trust. Newly appointed trustees are provkjed th copies of the will of the late Charle$ Lrtdewood Hill, copie5 of last Ihree years. annual reports and accounts of the trust and of the MuteS of Ih8 last three years. tr0$, meets'ngs as well as a copy of the Charity Commiswn's Televant gUK1ce. . R•lat•d party rnlationships The Laty Hind Trust is a conn8cted chanty becausa it has COmn)n trustees to The Chartes Littlewood Hill Trust. The Lady Hind Trust 1$ a reg151ered tharity. charity registration number 208877 aKI can be cont&led al PO 8ox 10455. Nottingham, NG5 OHR. No transacn$ have laken place between Ihe two chariknes during the years ended 31 December 2023 or 31 Decemtjef 2022. d. Flnanclal rlsk manag•m•nt The trustees have considered the wNKipal risks to tich the c*arity 15 exposed, corKeming cash, irwestments and grants and have reviewed those risks and have eStl$hed systems and w¢xeilure$ lo manage those risks. The iisk mèn4ement strategy is revievftd anNty. Plans for futurn pwiod8 The tfUStees' maTr)r objedi¥e is to enswe that in futwe the oUnts of IrQme of expeThJitwe that are available for distribution to other charitable organisathM weas8s year by year al a level in excess of infiation. if possible. At the same time the trustees reccsnise Ihal they slKJuld continue to invest in top quality property funds, fixed interest $UntIeS, index linked senties aTrJ equities in order to enswe, a$ best as they can. the continld grovrth of lh8 trust f. P&p4
THE CHARLES LifTLEWOOD HILL TRUST For th• Y•ar End•d 31 D•¢wnbw 2023 Statemènt of Trustws. responsibilill•s The tnjstees a reSpsIble for Ihe Trustees. reFth and Ihe f•)anaal stalements in accordance wilh appli¢able law and United Kingdom Acc(wnbry Standards (United Kingdom Generally Ac£epled Accounting pra9). The law applicable to Charie$ in Erwj1d & Wales reQre$ the trustees lo prepare ffiancaal statements for each financial whKh give a true arKI fair ol the state of affars of the Chanty and of its in¢oming res0CeS and application of resources, induding ils income * expendrture. for that In preparing Ih&se financial $latemènts. the trustees are rewred to: select surtable accoling wlicies aTrJ then apply ttm consistenlty: obseNe the methods WKI PrifKiF4es of th8 charrt SORP (FRS 102)" make judgments and accounting estimates a asonable and pTrent.. stsle vthether ¥plicable UK Accounting Standard5 IFRS 1021 have been followed. su'ecl lo any material departures disdosed and eXplaid in ts finKi81 statem. epa the financial slalements on ts gory e4)rLem basis unless it is inappioprrate to presume that the Ch ill continu8 in KlneSS. The trustees are respjnsble fcrf keepiTrJ •Jgwate accounlir¥J Terd$ that are suffKient to show and explain the Charitys Iran5adions and disdose reason&Ae ac(xJwy al any time the financial position of the Charity aNI enable Ih8m to enwjre that the financial eMentS comply wth Charib'ès Act 2011, the Charity (Accounts and Reports} Regulaliws 2008 and the provisions of the Trust deed. They are also responsible for safeguardiNJ the assets of the Chwrty hence tthng reasonable steps for the tKevenbon and detects.on of fraud arbd other irregularities. Disclosurè of Inforniatlon to auditors Eath of the Ferson3 are trustees at the time this TTh. report is approved has confvmed that.. so far as that trustee is aware. there is M relevant audrt infcmation of whth Ihe charitys authlor$ ¥e unaware, and that twstee has tsken all th¢ steps Ulli ¢xKJ)t to have been takvt as o trustee in order to be awao of any relevant au(At information arKI to estAish ¢harWs *¥Jitors we ae ofthat infomith'on. AForoved by order of the membws of the Lvd of tntea5 aThJ swd on thelr behalf ty. N R Savory Trustee Date.. Page 5
ThE CHARLES LITTLEblY)OD HILL TRUST Indop•ndenl Auditors. R•wt to the Mèmbws of Tho Charf•$ Littl•wood HMI Trust Oplnlon We have alled the financi815talements ol The Chartes Little Hll Tntst Ilhe'charityl for tha year ended 31 December 2023 which comprise the Statement of Finanoal Activrtie5, the Balance sheel and the related notes. includiig a summary of ggnthcant coUntIng pol The financial reporting framework that has been applied in their preparakn.on is applicable law and United Kingkni Aceounb"vvJ Standards, induding Fineal Reporting Standard 102 'The Finanoal Reporting Jard apr in the UK Rew4)lic of Irel (United Kingrn Generally Acc8Fled Acowntmg Praclicel. The fvlancial statements have b8en owred In accordance wilh Ating and Reporting by ChrtIes preparing their accounts in accofdance ith ihe Finanual Reporb"ry Stsndards arade in the UK and Republic of Ireland IFRS 1021 in weference lo the Accounb"ng and Reporting by Charities" Statement of Recommanded Pract issued on l )ri12005 which is refwred to m th& ex1ant regulabons ha5 t8n wrthdrawn. This has been thne in txder for the acc(ntS to wovide a true fair view in acLordance w71h the Generally Accepted Accounting Practice effective ts repLrj begimirffj on or after 1 January 2015. In our opirion the fin8ncaal statements. give a tfue and fair of the state of the charitS affars as at 31 December 2023 and of its incoming resources and applicabon of reS0CeS the year then endod,. have been properly prepared in accordance vthh UThled KiryJ(k)m Generaly Accepted Accounting Practio.. and have been prepared in aCce vlih the requyements of the Chwilw Act 2011. Ba¥ls for oplnlon We COndted OLf aKlit in acC(d wilh lniema Standards Auditing (UK) IISAS (UKII and applKable law. Our responsibilibes mder those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. Wa are independent of the challty in ardaTrce with the ethical requirements that are relevant to our authi of the finatKial statements in the United Kingdom. including the Finawal Reporting CsyJncil'$ Ethi¢at Slandar(l. and have fulfilled our other ethical responsibilities in accordance with these requrements. We believe that the autht eviden VR have obtained is sufficient and appropriate to pmwde a bass fry opin¥)n. ConcluBions r•lallng to golng ¢oncem In auditing the firbancial stat8m8nts. we have corKludèd that Ihe Twstees. use of the gcing concem basis of accounting in the preparation of the finar1 statements is apwopriate. 8as8d on the we have perfomd, V tave rtot Jenlifie(l any matenal uncertainties rèlating lo events or eondilions that. in(*viduaty tx collectivety. may cast signfficant dbt on the charitys ability lo Continue as a going oncem for a peri4>J of 01 le8sI t¥ftlve months ffcln Ihe finanoal statements are authorised for issue. Our resp)nsits"lilie$ and the re5ponsbilitses of the Tnthes vllh respect io going are described in the relevant sections of this reK¥xt. P•3e 6
THE CHARLES LITTLE HILL TRUST Independenl Audltors. Report to th• M•mb•rs Th• Charfw Llttl•wood Hill Trust lcontlnuod) Oth•1 information The other lnfwmatn comprises Ihe information Ymjuded in the Annual report other than the ffinaal ststements and our Auditors. r8POrt Ihereon. The Twstees are 5&X)nsIble for the other infoThation contained within the Annual Port. Our Opini on the ffin8r1 statements does not cover tho other information and. except lo the extent otheis8 expliatly slated in ow repNt. v do not express any form of asSUrae conclusion thereon. responsibility is to read ts olher information aThJ, in dn9 so. consder whether the other informalion 15 mate11lY incortstslent wrth th& fincial stements CY cw knovAedge obtained in the course of the audit, or olhemise appeaTS lo be materially misslaled. If Knbfy such material inconsislerKie5 or apparent material misslalemenls, we required to deteme this gives lo a material misststement in the ffinancial statements themselve$. If. based on the have Flormed. ¥ condude that there is a material misstatement of this other inf0mtIOn, we requred to reF#Jt that facl. We hwe nothing to rewt in this reg¥d. Mattèrn on which arn requlred to report by •xcoptlon We have nothlng to k)rt in respecl d the fdthtying matss the Charities {AecoMts and Reports) RowlaticS 2008 requires to report to rf. in our opiwi: the inlomiation given in the TrLtste8s' rewt bs irtLVtsiStent In any material respect vith the fincial statements; or sufficient accounting recd$ have nol been kept or the finanual statements are rv)t in agreement with the accounting reccrtds and return$., ¢x we have not reiVed all the information an(J exF4anation$ y require for ow audit. R•sponslbllitlo8 of tNst•es As explaine(I more fully sn the Truslees. Tesponsibilitss statennt. the Trlee5 are responsible for the preparation of the finan¢ial statements we a truo WKI fair View. and for suth intemal control as the Trustees determine is wssary lo enable the weparatic of financial statements Ihat are free from material mi5Statemert 4th8ther due lo or ermr. In prgwing the finla1 statements. Ihe Trus are respMsitAe for assess1 the chariVs abih'ty to continue as a g(4ng cCern. disclosing. a$ apFAicatrde. matters related lo going conc*m and usiw the going C(n basis of accountu unless the Trustees either inlerKI lo liquidale the thallty or to cease operations. or have no realistic altemative but to th so. Page 7
THE CHARLES LlTfLEWD HILL TRUST Independ•nt Audit(n' R•port to th• Membws of The Charl•s Llitlè¥Kod Hlll Trn$t Iwitlnugd) Auditors, r•spOnslbllltl fry the audll of the flnanclal statements We hav8 been appoinl•d as au¢lrtor under sectiM 145 of thè ChaYits Act 2011 and rep¢Nt in accordance Yth the Act and relev1 re9an$ made or havmg effect thereU1er. Our objectives are to obtain reasonable a$Swa about the finanrial statements a$ a whole are free fr(Nn Materi misstalemenl. whether due lo fraud or error. and to ISSU8 an Auditors. report that irlUdeS our opinion. Reasonable assLrance ts a hh level of assuwce, bul is not a gu¥anlee that an authl conducted in accordance wth ISAS (UK) will aKvays detect a material misstatennl when rt exists. Misstatements can arise from fraud or efror and are conSered material if, iTrJM"dually in the aggregate. they ¢cld reasonably be expe¢ted to influen¢e the ecLY71¢ deaon$ of users laken on the basts of ttse ffinancial statements. ITregularitie$. induding fraJ. are $tanCeS of ncOm{l.an¢e laws and regulations. We design proc8dures in lin8 with resp$11)111$. ¢t11r0 above. to detect material misstslements In respect of irregularilies, induding fraud. The exlent to thich otw procedures Capable of dete¢ting irregularits8s, induding fraud is detailed below: We Identlfied that the principal risk of fr?j or non-comp1iwQ wlh laws r&3ulations related to.. management tias in respect ol accon9 eslwnates ylgemenls mado: managèment overrbje of conlrd.. posting of unusu pumals or transact. We foujssed on those areas th ¢whY gve rrse to a matla1 mi5slalemgrrt in the Tntsfs finandal statements. Our procedures induded, but vmre not limi18d to.. Enquiry ol management axl chty govwnance atxual and Wential kn.gatI claims., Reviowng miNtes ol meetings of those thwged Tth goVernae where availabk., Reviewng financial statement th"sdosTh and testing to supports'ng docLwnentsticn to assess compliance with applicable laws and alIc$. Perfom)ing audit over the risk of management ovride of controls, indLwJing testing of joumal entries and other adjustments for apWoprkqt, eVaIL9 the SInesS rationale of significant transactions 0side the normal ccwrse of blm$5 fevigwiTrJ estimates for tias. 11 is the wmary fespon&biMy of mwwent. ilh Ihe ovit of those ch•d with 9overnance. to ensure th the entitys operations are Cor1d Ni wilh the w>v1$i5 of Iww5 and regulations and for the prevention and detection ol fraud. Because of the inherent limitation$ of an audil, there is a risk Ihat not detect all irregulaiilies. induding those leadir4J to a malerHI misstatement in thè financi ststements non-compliCe with regulation. This risk increases the more that Complian wilh a law LY regwlation is removed from the events and transactions renected in finanaal stslements. as we will b? $$ likely to become aware of insknces ol non-compliance. Tho risk is also greater reg¥ding iryegulwilies (ur9 due lo fraud rather than error, as fraud involves intentional concealmenL forgery. cc41usion. omission or mMeWeskn. A further descriplicfi of ow resp(Ktsitrflities kn the a1rt of the finanual statements ts ILxatgd on the Financial Repth'ng Counc41's website at.. w*Av.frc. .jdiL This description fomis part of o Auditors, report. Page 8
THE CHARLES UrrLE HILL TRUST Indop•ndont Auditovs. Report to th• IA•mb•rn of Tho Charfes Llttlewood Hlll Trust (ntinu•d) Uso of our roport This report is made 801ely to the chariws trLthes. as a body. in ac¢ordarte with Part 4 of the Charities (Accounts and Reports) Regulab'ons 2008. Ow •Jdrt work has been Lmdertaken so that we might sLe to the haritls trust&es Ihose matters are reqwed to state to them in an AlOrS. report ar for no other purpose To the fullest exlenl permitted by law. we do rKJI accept or a5sune resporribility to anyone other than the tharty and its trustees. as a lyJ, for our aLbJil Wk. for rewt. ty for the orlnions we have lomied. PKF Smmh C¢)opor Audlt Lknlted Statutory Auth"tors 2 La Market Squ¥e Nottingham NG1 1PB Dale.. 9 July 2024 PKF Smith Cooper Aj11 'mrted are digle to acl as auditors in ternis of section 1212 of the clpanIeS Act 2006. Page 9
THE CHARLES LlrrLE HILL TRUST For the Y•ar End•d 31 December 2023 Unrestrided funds 2023 Total nds 2023 T¢xal funds 2022 Incom• from: Investments 159.294 1S9.294 178.089 Total lThcom• 159.294 159.294 178.089 Expenditure on: Chanlable activr 118.308 168.308 140.538 Totsl •xpendl¢urn 168.308 168,308 140.538 Not lexpenditur•)fincom• b•forn galrbslllosses) on Invostmenls Net gainslllossesl on investments 19.014 232.562 19,0141 232.562 37.551 1831.4431 Net movement In funds 223.548 223,548 1593,8921 RKoncillatlon ol funds: Total funds broht fcwd Net movement in funds 5.U6.834 223.548 5.586.834 223,548 6.180.726 (593.8921 Tolal lunds carrled forrd 5.810,382 5,810,362 5.586.834 The rb)tes M pages 12 to 22 form part of thtse finamal statements. Page 10
THE CHARLES LrrrLEWOOD HILL TRUST As at 31 D•cembw 2023 2023 2022 Flxed assets Investments 5.572.654 5.375.987 Current a$sots Cash at bank and in haTrJ 217.735 Creditors.. amounts fdllThJ due within one year (Q340) 16,8881 Not Cuwyont ass•ts 237.n8 210,847 Total au•ts cwrnnt Ilabllltl•s s10.382 5,586.834 Total net asmts s10,382 5,588,834 Charftyfvnds Unrestricted fvnd$ 5.810,382 5.586.834 Total funds 5.810.382 5.586,834 The financial statements were aFwved thriseil for issue by the Tntstees and signed on Iheir beh4f by.. C W L Barratt Trustee THF Twstee NR&wory Tru$te¢ J D P•ars Trustee Date: The notes on pa 2 to 22 fonn p* of Ilw ffirtarti slalemwts. Page11
THE CHARLES LirTLE HILL TRUST Nol•s to th• Fln•n¢ial Stt•m• For the Year Ended 31 D•wnbgr 2023 Accountlng polkl•s 1.1 Ba¥1¥ of pr•p¥atlon of financlal sttèm•nts The financial statements have been prepared in a¢wdance wlh the chant SORP (FRS 1021- Accounting and Reporting by Charifies". Statemenl of Recommended Prackn"ce apph"cable to ch¥rties preng their accounts in accord ttr Financial Rerkn"n9 Standard applicable in the UK and Rep)11¢ of Ireland IFRS 1021 (effectwe 1 January 20151. the Financial Reporting Standard applic&le in the UK Repubknc of IrelwKI (FRS 102) and Chanbès Act 2011 The finwal statements are Fw¥ed in SterfiThJ v&t¥ch is the funciKThl currency ol the Trust rounded to the ne¥est £1. The Charfes Littjewood Hill T1 meets the definit1 of a public benefft entty under FRS 102. As58ts and liabilities are inib.aty reeogntsed al hist{¢ cost or transaction Value lesS oth8Thise stated in the relevant actourthng pcthcy. 1.2 In¢offlg All income is recognised m Ihe Ch has enbllement to the income, it is probable th the income ¥ill be received and the nnI of income receivable can be measured reliably. Income from investmts 1$ rècognised in the vK¢¥ne aThJ expendiiure xcount so as to match the income within the wio(l it h05 been eamed. Any investment income receivèd in advance Of in arrears is deferred or acuued in the bal sheet accorth'n¥y. 1.3 Expondltwo ExpeThJitur& is recognised there is a or conslructive c)ligation lo transfer ecOrniC benefft to a third party. it is Pfobable that a transfer of e1¢ b8neffts wil be required n sattlemenl and the nnI of the oblgati¢)n tan be meayjred feliatty. Expendite on ttwifabk aclivi¢bgs is incwred (ffi directy mdèrtaking the &bvIt$ vAy¢h further the Ch3 obJ'ecliV a5 weB as ary associaled S)pt eost$. Support costs cnpra all expw)ditU arising dIng Ihe wmirvJ of the thty. 1A Int•rnsl 1Vabl• Interest on fwds hdd crfl deposit is induded 7kn receivable and the amwnl ¢an be measured rdiably by the Chavity. is normally Up rv)tificabon of the interest paid or payable by the institution with Wh¢ the fwKIs (W. ed. 1.5 Invgslmgnts Fixe(l asset investments are a fcrfm of financial instwmenl an(1 are initially recogni$ed ai their transaclion cost and subsequentty measured at fair value at the balance sheet date. unless fair value cannot be measured reliably in vthich ca$8 it is measured al coBt less impaimienl. Inveslmenl gains and losse5, wthether realised or urnealised. *e cc1))b4 and presented as 'Gainsl(Lossesl on inveslmenls, in the ststeml offManU acbwties. 1.6 Cash at bank and In hand Cash al bank and in hand indudes cash aTrJ short-term higNy liquid investments With a short maturity of three months or less from the date of acquisit or 0n9 of the deposit or similar accounL Paje 12
THE CHARLES LITTLEWD HILL TRUST Notss to th• Financlal Stat•m•nts For tho Year Endod 31 Docemb•r 2023 counling pollcigs (continu) 1.7 cr•t0 and provlslons Creditors and provisions ore recognised where tho charity ha5 a wesenl d)ligation resulting from past event that VAI probably result n the transfer of I}dS lo a Ihird party and the amounl due lo setue obligation Can be measLwed or estimated reliably. Creditors and wovisions are nomialty recognised at Ihwr selknent amowrt after fc any trade (liscounts thje. 1.8 Financlal Instrum•nls Thè Charity onty has assets aThJ fmancial liat4'lities of a kind that qualify as basic financial inslwments. Basic financial instrument$ ar8 iIMtiaUy recognlsed at transaction valL and subsequenliy measured at ther selllement value with Ihe exwib.on of bank loans vknith e subsequently measured al amlI$¢d ¢ost usirKJ the effective interest melkK•d. 1.9 Commisslon on Invostsrnnt transathn* Profits on sales of inNYslments n8t of CommiOn. 1.10 Fund a¢countlng General furnls are unrestricted funds are avanabfe for use at the discretion of Ihe Tru5te8s in fixtherance ol the general ctsjective$ of the Charity and wthich have not been designated for other Investment irOMe. gains and losses are alated to ihe aFvopriate fuTrJ. 1.11 Grants pakl Grants are recognised when tw are apwoved to be by the trusiees. Investm•nt Inme UnreStrd funds 2023 Total lunds 2023 Tol funds 2022 Bank ffiterest In¥e$tmenl income 2,177 157,117 2.177 157.117 105 177,984 159.294 159,294 178,089 Total 2022 178.089 178.089 Page 13
THE CHARLES LrrTLE HILL TRUST Notss to thg Fln•nthl Stat•m•nts For th• Y•ar End•d 31 De¢embor 2023 Analy81• of exp•ndlturo on ch11 activits Summary by fund type Unr•strict•d funds 2023 Total 2023 Tol 2022 Unrestsicted FdS 168.308 168.308 140.538 Total 2022 140.538 140.538 Anatysls of expendilur• by actl¥lt nd•rtak•n directty 2023 Support ¢osts 2023 Total funds 2023 Totsl funds 2022 Unrestricled Funds 151.000 17.306 168,308 140,538 Analysls of dtrect costs Umtrict Funds 2023 Total tund$ 2023 Total funds 2022 Grant$ (Note 12) 151,000 151.000 123,5¢XI Total 2022 123,5CiI 123.500 Page 14
THE CHARLES LiTTLE0D HILL TRUST Ilotas ¢0 th• Flnanclal Statsments For the Y•ar End8d 31 DeG•mber 2023 Analysls of 0XndIr? by •cllvltl•s (corrtlnu•d Analysis of support cost5 Unroslrlct•d Funds 2023 Total funds 2023 Total funds 2022 AdminislTation exSe$ Audit and accountancy fees Sto¢klwoker fees Other expenses 8.942 6.342 8,217 6.889 6.342 1.160 1.C68 17.308 17,308 17,038 Total 2022 17.038 17,038 Audltors. MmuneYatk•n 2023 2022 Fees pardble to the Chari¥$ altty tr ofthe Charitys U81 accounts 6.888 Trust•M' rèmunoralion and exp•ns88 Durng the year. no Twstee$ received Y remun# crf ottrr benefits (2022. £NIL). Dumg the year ended 31 December 2023. no Trustee expenses have been incurred12022- £NILI. Page15
Not•s to th• Flnanclal Stat•m•nts For the Year Ended 31 DKember 2023 FIX ass•1 InvKtm•nts Li¥t•d invèstmènts Cost or valuallon Al 1 January 2023 Additions 5,375,987 958.345 1987.3361 225.658 sposals Revaluations At 31 December 2023 5.572.654 N•t book valu• At 31 Dècembèr 2023 5.572,654 At 31 Decembgr 2022 5.375.987 1 Ihe fued asset investmts are hekl in the UK. The investment acquisi11($ ayj diSsa& ¥e rt of mestrnent Mager fees and Commilon5 of £13.994 {2022: £9.5191. The £232.562 of net gains (2022". £631.443 net losses) on investments in the SOFA includes £225.658 unrealised gns 12022: £771.683 unreatsed h)sses) and £6,904 realised gains (2022.. £140,240) in relation to the fixed asset investments. Credltors: Amounts falllng wlthln y•ar 2023 2022 Ac¢N$ and deferred irw 6,340 6.888 Page 16
ThE CHARLES L1TrLEbD HILL TRUST Notss lo thè Finan¢lal Statements For the Yow Ended 31 D•c•mb•r 2023 Slatomont of fitnds SL*tament of funds- current yw Balan¢? at 31 Gainsl Dec•mr {Losses) 2023 Balan at 1 January 2023 Incom• Expgnditur• Unrestrlctsd funds apital Attount Income Accowt &495.041 91.793 232,562 5,727.603 82.779 159.294 1168.308) 5,5a6,834 159.294 (168.308) 232.2 5.810,382 Statsm•nt of funds- prfor year 88lance at 31 December Balance al 1 jary 2022 Gainsl (Losses) Expenditure 2022 Unrestrl¢¢ed lunds Cepitsl Account Incorne Account 6,126.484 54.242 (631.443) 5,495.041 91,793 178.089 1140.5381 6.180.726 178,089 (140,5381 631.443) 5,586,834 10. Analysls of net assets between funds Analysls of nel •ssots b•twn funds . currnnt y•ar Unr•strict•d funds 2023 Tolal funds 2023 Fixed asset investments 5,572,654 244.068 16.340) &572.654 244.068 16,340) Current assets Creditors due witlin year Total 5.810.382 5,810,382 Page 17
THE CHARLES LITTLEb% HILL TRUST Not8¥ 10 thg FIDanclal Stalements Forth• Y•ar End•d 31 Decom1 2023 10. Anatysls of n•1 assets b•lwoen fvnds {conlinu•d) Anatysls of nel a8$0ts bet¥fftn funds- prlor yw Unre5tncted lund$ 2022 Total fvnds 2022 Fixed asset investments Current assets Cre(Jilors due within one ypar 5,375.987 217.735 (6.8881 5.375,987 217,735 (6,8881 Totsl S,586.834 5,586.834 11. Relat•d party transadions C W L Batt. a trustee. is a ¢Jrector of Barratt & cke HLrJS timiled. wlThe wholly owned subsithary 8arratt & Cooke Limited MageS the Trust's wwe$tmen15. Fees aThJ ccnmissKJns paid to Barfatt & Ccoke Limited during the year amoLnled to £14.85412022.' £10.3961. Barratt & Cooke Limited does not charge a periodic investment managemert fee. The trustees c(msider that the muneratIon compares favourabty Vlith tharges levied by ottw investswl managers. N R Savory. a Iru5tee. is also a rn- execulive director of BaThatt & Cooke Limited. N R Savory is a trustee of Wmuiryham Charrtable Trust lo which O syanl of £Nil 12022: £15,000) was made duriThJ the . N R Savory is a trustee of MUS in County Clwrthes to ¥thich a grart of £12.50012022.. £N} was mada during the year. T H Fafrfs wife is a trustee of Por11 Cdl8ge to a gr¥rt of £10,CN)012022.. £Nil) wa$ made during Ihe year. All trustees of ts trust vhKI have authority and resp)nskni ility for planNng. directin9 and corrtrolling the activities of the trust are considered lo be key management personn81. T¢ remuneration in respect of Ihese 1ndiw01$ is £M'I12ff22". £Nil). 12. Grants paid to inslltutions of £1.IMI 4x mowe 2023 Churchos CommUrty Chaplaincy Norfolk The N+)rfc4k Churches Tntst 1,000 7.500 8.500 Page 18
THE CHARLES urrLEWOOD HILL TRUST Not•s to th• Fknancial Stat•ments For the Yoar Endgd 31 DKombor 2023 2023 Acccxnodatlon The Amshouse A$s>all( 1,000 1,1)00 2023 Frozen Li&tht Music In cOty CrCheS The Noth'ngham Arts Theatre SoLrthweH kfvsic Fe*ival 1.000 12,500 3,000 3,000 19.500 2023 Educatlon Belvoir Cncket & countryd8 Trust How Fthll Trust 1,OlXI 2,000 2.000 1.000 Literacy Volunleers in Nottinghamshire Sdwls St E¢knunds Society 6.000 2023 Envlronmont Noilinghamshire Wildlife Tntst 5.000 s.000 Page 19
THE CHARLES LITfLEw HLL TRUST Ilots• to Flnancial Stat•m•nts Forthe Yo•r Ended 31 Docèmber 2023 2023 ServlG•$ ABF The Soldiers Charity- Nottinnthre The British Forces FourKlal 3.000 1,000 4000 2023 MedkallDlbIed B8mONd HSe Hospu Care CICRA Cysts"c Fibro$ Trust Oogs for Good Dove Cottage Day Ho¥rf¢e Eating Matters Kids Cancer Challty Litde Hearts Matter Multiple Sclerosis Trust My Sight NOttinghsre NatiLv)al Rheumalold Arthnlis Soc The Norfolk Heart Tfust Peter Le Marchanl Tfust PortId College Prostate Cancer UK Spinal Injuri8s Associatic The Norfolk Hospice, TappiTr3 Hwse rime NorfcAk 5.000 1.000 1,000 1.1)00 s,000 3.1)00 1,000 1,000 1,500 5,000 2.000 12.500 2.SOO 10.000 1.000 1.000 2,500 1,000 1,000 Young Eylepsy 58.000 Page 20
ThE CMARLES LirrLEWWD HILL TRUST Notes to Flnancial Stat•m•nts For tho Year Ended 31 DKember 2023 2023 Othor CommuNty Sports FwrKlation Norfolk Communty Foundation Notnarnshire C14Jbs for Young People Ltd 5,000 2,500 1,500 9,000 2023 Wolfarn Age Concem (North Norfdk) caMpan Against Living Miserably Children's Bereavement Centre 1,000 1,000 sooo 3,000 1.000 1.000 3.000 2,000 2,000 2.000 1.000 1.000 1.$00 1,000 1,000 3,500 3.000 1.000 1.000 1.000 Comwaler EvreenS Happy Day3 Children's Ch Hgbron Trust Holl Youth Proied The Lenton Cent The Magdalene Group Mansfield Woodh¢JJ5e Communrty De¥ek4)ment Gro Norwich Ooor lo Door Ncrfwich Men's Shed Notts County Foundation The Renewal Tnjst Starftyht Children's Fnd81 Trent Compassion Trust Uricef UK West Norfolk BelriendirKJ YESU The Peoe'S Place ZANE.. zlmbab- A National Emerg 36,000 Page 21
THE CHARLES LITfLEWWD HILL TRUST Notss to the Flnancial Slatsm•nts For th• Y•ar En¢knl 31 Do¢¢mbèr 2023 2023 Totsl grants paKI to Instituti of £1,(MXI cf mrye 0r grants in aggregate 147,000 4.000 Tolal 151.000 Page 22