Charity registration number: 289171
## How Hill Trust
Annual Report and Financial Statements for the Year Ended 31 December 2023
Wright Accountancy 83 Cromwell Road Norwich Norfolk NR7 8XJ
## **How Hill Trust**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 6|
|Chairman's Statement|6|
|Statement of Trustees' Responsibilities|7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9 to 10|
|Balance Sheet|11|
|Notes to the Financial Statements|12 to 29|
## **How Hill Trust**
## **Reference and Administrative Details**
**Chairman** Mr R Batson **Trustees** Prof T Jickells Ms N Hems Dr K Bacon Mr A Scull Mr T Harper Mr M Flett **Charity Registration Number** 289171 **Principal Office** How Hill Ludham Great Yarmouth Norfolk NR29 5PG **Independent Examiner** Wright Accountancy 83 Cromwell Road Norwich Norfolk NR7 8XJ
Page 1
## **How Hill Trust**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.
## **Objectives and activities**
The primary objective of the Trust is to promote, maintain, improve and advance public education in the broadlands by the provision of educational facilities at How Hill in Norfolk and the conservation of the How Hill House for the benefit of the public.
The Trust derives a significant proportion of its income from the charges made for courses, as well as from open days and sundry sales. Income is also derived from donations and grants, details of which are given in the accounts. The costs of running How Hill are under constant review, but inevitably repairs and maintenance of this thatched listed building take a high priority. A further review of the Trust's activities is given in the Chairman's statement.
Page 2
## **How Hill Trust**
## **Trustees' Report**
The range of public benefits provided by the How Hill Trust includes the following:
Heritage - How Hill House is a prominent landmark at the heart of the Broads which is very much cherished by the public. The trustees undertake to maintain this building and its grounds for the good of the community.
Recreational Access - How Hill Trust provides a free access point for walkers, boaters and other casual visitors at all times and on every day of the year. The Trust makes no charge for this provision. The Trust also provides unrestricted free car parking and access to the extensive, regularly mown, "Fisherman's Field" - a large open space which is made available without constraint for picnics, kite flying, dog walking, ball games and other informal recreation. This area also leads to waterside paths where the public may freely walk and enjoy exterior views of three contrasting Broadland drainage windmills, as well as angling by the river. The "Fisherman's Field" is used freely almost every day by groups visiting the Broads by river, particularly disabled children brought from Neatishead by the Nancy Oldfield Trust. Public toilet facilities are provided during daylight hours throughout this period and this facility is cleaned and serviced.
Education - The Trust's central role, enshrined in its Trust deed, is the provision of residential environmental educational courses for schoolchildren. There is no restriction as to the age or ability of pupils, ethnic or geographical origin, creed or class. All the courses which the Trust offers may be subsidised if required.
Adult courses - The Trust offers a number of adult courses, which are open to anyone regardless of background or ability.
Information for Schools and Schoolchildren - The Trust provides, at no charge, an unlimited advisory and information service for children, students or teachers who may request information on any topic associated with the Trust's work, in particular with respect to the broadland environment. Occasionally the Trust is asked by members of the public to provide a more general conservation and natural history service, and this is also provided free of charge.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 3
## **How Hill Trust**
## **Trustees' Report**
## **Financial review**
The charity's free reserves (represented by cash balances, stocks, debtors less creditors in unrestricted funds) at 31 December 2023 were in surplus by £91,738 (2022 - £193,238). The Trustees recognise the need to maintain a certain level of reserves in order to have funds available for major repairs and maintenance. It is their intention to build up the charity's free reserves to the equivalent of four month's operating expenditure which would amount to approximately £100,000. The Trustees are constantly aware of the need to protect and maintain How Hill, the Trust's sole property. As an important listed building, more than a century old, with a substantial thatched roof, future maintenance of the house will require considerable resources to be expended.
The Trustees have determined that all investment decisions will be taken by the entire Board of Trustees and not delegated to any individual officer or agent. The Trustees review investments at any meeting and will in any case review all investments annually. They seek advice from outside agencies, advisers or brokers but will not delegate responsibility to run them. The Trustees will at all times exercise caution and discretion in their choice of investments and will seek stability and balance through proven investment vehicles.
## **Plans for future periods**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **Structure, governance and management**
Throughout this document, any reference to How Hill shall be construed to mean the enterprise operated by the How Hill Trust, including How Hill House, its grounds and gardens, and leased domain situated in the hamlet of How Hill at Ludham in the County of Norfolk, in distinction to any other property situated in the same area of Ludham.
Governing Document and history: The Trust is a registered charity (registered number 289171), created under a deed dated 21 February 1984.
Page 4
## **How Hill Trust**
## **Trustees' Report**
Trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the area o benefit or who are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects or management of the charity. The Trustees have the power to appoint new Trustees.
All new Trustees are provided with: The Trust Deed of the Charity, the latest accounts of the Charity and details of the Charity Commission publication - 'The Essential Trustee "What you need to know"'.
In addition, Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
The Trustees meet quarterly and the director of the Trust reports directly and fully to their meetings. In addition, an Executive Committee of the Chairman, Vice Chairman and Director meet on a regular basis. Day-to-day management, including recruitment and control of staff, is entirely devolved to the Director. The Trustees have established a Finance Committee which comprises three Trustees and the Director and are able to provide guidance and assistance to the Board in all matters relating to budgeting and finance. The committee meets three times a year and reports to the Board.
The annual report was approved by the trustees of the charity on 28 Oct 2024.................... and signed on its behalf by:
......................................... Mr R Batson Chairman
Page 5
## **How Hill Trust**
## **Trustees' Report**
## **Chairman's Statement**
This is the first year I have had the privilege of writing this as Chairman of the How Hill Trust.
As mentioned in last year’s annual report, Nick Price has now stepped down as chairman and resigned from the trustee board in September. I, together with my trustee colleagues, owe Nick a huge debt of gratitude for all the time, work and expertise he has given How Hill over two decades. Mark Hopkins, another long-standing trustee also resigned during the year – his input has also been invaluable during the many years he served the trustee board.
This year has seen us return to near normal trading, following the unprecedented interruptions caused by the pandemic. Schools are back to normal numbers and adult courses have taken off again. That said, adult courses remain difficult to plan for. Some of the adults breaks we offer, such as those looking at gardens, and visiting churches could have been filled twice over, but the more ‘traditional’ natural history themed courses have proved difficult to fill. I know our staff will be working hard to ensure all courses are well filled in the months and years to come! It must be emphasised that, had we not taken the decision to upgrade our bedrooms by adding en-suite facilities we would be in a very difficult financial position indeed.
In 2024 the Trust reached the milestone of having been operating for forty years – no mean feat in today’s economic climate. We will hold a suitable celebratory event next August, inviting those have helped and assisted the Trust over the past forty years.
I must mention the Friends of How Hill, which is an unstinting and amazing group generating much –needed funds to help the charity. It raises approximately £10,000 each year; a truly magnificent sum and one we are extremely grateful for.
I was delighted the Broads Authority used the How Hill Trust for their annual staff development day. Roughly 120 employees of the Broads Authority descended on How Hill for a day in the Autumn and they had the opportunity to experience many of the activities that we have to offer – including dyke dipping, thatching and enjoying the River Ant aboard our boats!
Finally I must thank my fellow trustees for all their help and support throughout the year, and of course, our small but dedicated and flexible staff without whom How Hill could not exist!
Page 6
## **How Hill Trust**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
28 Oct 2024
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr R Batson Chairman
Page 7
## **How Hill Trust**
## **Independent Examiner's Report to the trustees of How Hill Trust**
I report to the trustees on my examination of the accounts of How Hill Trust for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of How Hill Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the How Hill Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
Since How Hill Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Wright Accountancy, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of How Hill Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... David Wright FCA Wright Accountancy
83 Cromwell Road Norwich Norfolk NR7 8XJ
28 Oct 2024 Date:.............................
Page 8
## **How Hill Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2023**
|**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Investment income
5
Other income
Total income
**Expenditure on:**
Raising funds
Charitable activities
Total expenditure
Net expenditure
**Other recognised gains and losses**
Other gains/losses
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
20
**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Investment income
5
Other income
Total income
**Expenditure on:**|**Unrestricted**
**funds**
**£**
31,731
266,208
37,928
3,012
10,552
349,431
(7,828)
(423,918)
(431,746)
(82,315)
6,504
(75,811)
1,121,608
1,045,797
**Unrestricted**
**funds**
**£**
69,251
190,445
26,995
2,852
18,326
307,869|**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
(3,867)
(3,867)
(3,867)
-
(3,867)
4,000
133
**Restricted**
**funds**
**£**
7,200
-
-
-
-
7,200|**Total**
**2023**
**£**
31,731
266,208
37,928
3,012
10,552|
|---|---|---|---|
||||349,431|
||||(7,828)
(427,785)|
||||(435,613)|
||||(86,182)
6,504|
||||(79,678)
1,125,608|
||||1,045,930|
||||**Total**
**2022**
**£**
76,451
190,445
26,995
2,852
18,326|
||||315,069|
|||||
The notes on pages 12 to 29 form an integral part of these financial statements. Page 9
## **How Hill Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2023**
|**Note**
Raising funds
Charitable activities
Total expenditure
Net (expenditure)/income
**Other recognised gains and losses**
Other gains/losses
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
20|**Unrestricted**
**funds**
**£**
(5,292)
(357,586)
(362,878)
(55,009)
(7,775)
(62,784)
1,184,391
1,121,607|**Restricted**
**funds**
**£**
-
(7,138)
(7,138)
62
-
62
3,938
4,000|**Total**
**2022**
**£**
(5,292)
(364,724)|
|---|---|---|---|
||||(370,016)|
||||(54,947)
(7,775)|
||||(62,722)
1,188,329|
||||1,125,607|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 20.
The notes on pages 12 to 29 form an integral part of these financial statements. Page 10
## **How Hill Trust**
## **(Registration number: 289171) Balance Sheet as at 31 December 2023**
|**Note**
**Fixed assets**
Tangible assets
14
**Current assets**
Stocks
16
Debtors
17
Cash at bank and in hand
18
**Creditors: Amounts falling due within one year**
19
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
20|**2023**
**£**
967,388
6,048
12,835
92,021
110,904
(32,362)
78,542
1,045,930
133
1,045,797
1,045,930|**2022**
**£**
964,606
7,400
11,747
191,294|
|---|---|---|
|||210,441
(49,440)|
|||161,001|
|||1,125,607|
|||4,000
1,121,607|
|||1,125,607|
The financial statements on pages 9 to 29 were approved by the trustees, and authorised for issue on ....................27 Oct 2024 and signed on their behalf by:
......................................... Mr M Flett Trustee
The notes on pages 12 to 29 form an integral part of these financial statements. Page 11
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
How Hill Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 12
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be sepent on a particular purpose and returned if unspent, in whcih case it may be regarded as restricted.
## **Expenditure**
All expenditure is recognised (inclusive of irrecoverable VAT) once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
These are costs incurred in attracting voluntary income, the management of investments and those incurred in all fundraising activities, events, non-charitable trading activities and the sale of donated goods.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Other expenditure comprises all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 13
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **Tangible fixed assets**
Tangible assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Heritage assets**
Heritage assets measured under the cost model are recognised initially recorded at acquisition cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Heritage assets measured under the revaluation model are recorrded at fair value less any accumulated impairment losses.
Where information on the cost or value of an asset is not available and cannot be obtained at a cost which is commensurate with the benefits to users of financial statements, the asset shall not be recognised in the statement of financial position.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Plant and machinery|33% reducing balance|
|Fixtures, fittings and equipment|33% reducing balance|
|Motor vehicles|33% reducing balance|
|Living marshes|33% reducing balance|
Page 14
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 15
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **Trade creditors**
are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 16
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **Financial instruments**
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Basic financial instruments are initially recognised at the amount receivable or payable inlcuding any related transaction costs.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recoginised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Page 17
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations
Legacies
Grants, including capital grants;
Grants receivable
Donations and legacies;
Donations
Grants, including capital grants;
Grants receivable|**Unrestricted**
**funds**
**General**
**£**
39,251
30,000
69,251|**Unrestricted**
**funds**
**General**
**£**
19,713
10,018
2,000
31,731
**Restricted**
**funds**
**£**
4,000
3,200
7,200|**Total**
**2023**
**£**
19,713
10,018
2,000|
|---|---|---|---|
||||31,731|
||||**Total**
**2022**
**£**
43,251
33,200|
||||76,451|
## **3 Income from charitable activities**
|Residential courses, day visits, venue hire and other events
Residential courses, day visits, venue hire and other events|**Unrestricted**
**funds**
**General**
**£**
266,208
**Unrestricted**
**funds**
**General**
**£**
190,445|**Total**
**2023**
**£**
266,208|
|---|---|---|
|||**Total**
**2022**
**£**
190,445|
Page 18
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **4 Income from other trading activities**
|Trading income;
Shop income
Tea room income
Trading income;
Shop income
Tea room income
**5 Investment income**
Other income from fixed asset investments
Interest receivable and similar income;
Interest receivable on bank deposits
Other income from fixed asset investments|**Unrestricted**
**funds**
**General**
**£**
7,460
30,468
37,928
**Unrestricted**
**funds**
**General**
**£**
4,261
22,734
26,995
**Unrestricted**
**funds**
**General**
**£**
3,012
3,012
**Unrestricted**
**funds**
**General**
**£**
373
2,479
2,852|**Total**
**2023**
**£**
7,460
30,468|
|---|---|---|
|||37,928|
|||**Total**
**2022**
**£**
4,261
22,734|
|||26,995|
|||**Total**
**2023**
**£**
3,012|
|||3,012|
|||**Total**
**2022**
**£**
373
2,479|
|||2,852|
Page 19
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **6 Expenditure on raising funds**
## **a) Costs of trading activities**
|**Note**
Costs of goods sold
**Note**
Costs of goods sold|**Unrestricted**
**funds**
**General**
**£**
7,828
7,828
**Unrestricted**
**funds**
**General**
**£**
5,292
5,292|**Total**
**2023**
**£**
7,828|
|---|---|---|
|||7,828|
|||**Total**
**2022**
**£**
5,292|
|||5,292|
## **7 Expenditure on charitable activities**
|**Note**
Residential courses, day visits, venue
hire and other events
Depreciation, amortisation and other
similar costs
Staff costs
Governance costs|**Unrestricted**
**funds**
**General**
**£**
145,689
6,732
270,715
782
423,918|**Restricted**
**funds**
**£**
3,867
-
-
-
3,867|**Total**
**2023**
**£**
149,556
6,732
270,715
782|
|---|---|---|---|
||||427,785|
Page 20
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
|**Note**
Residential courses, day visits, venue
hire and other events
Depreciation, amortisation and other
similar costs
Staff costs
Governance costs|**Unrestricted**
**funds**
**General**
**£**
108,120
9,622
239,057
787
357,586|**Restricted**
**funds**
**£**
7,138
-
-
-
7,138|**Total**
**2022**
**£**
115,258
9,622
239,057
787|
|---|---|---|---|
||||364,724|
## **8 Analysis of governance and support costs**
## **Governance costs**
|Independent examiner fees
Examination of the financial statements
Independent examiner fees
Examination of the financial statements
**9 Net incoming/outgoing resources**
Net outgoing resources for the year include:
Operating leases - plant and machinery
Loss on disposal of fixed assets held for the charity's own use
Depreciation of fixed assets|**Unrestricted**
**funds**
**General**
**£**
782
782
**Unrestricted**
**funds**
**General**
**£**
787
787
**2023**
**£**
744
-
6,732|**Total**
**2023**
**£**
782|
|---|---|---|
|||782|
|||**Total**
**2022**
**£**
787|
|||787|
|||**2022**
**£**
793
(1,100)
10,722|
Page 21
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **10Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **11Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2023**
**£**
241,970
17,108
11,637
270,715|**2022**
**£**
214,890
13,722
10,445|
|---|---|---|
|||239,057|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|||**2023**||**2022**||
|---|---|---|---|---|---|
|||**No**||**No**||
|All|staff||9||9|
9 (2022 - 9) of the above employees participated in the Defined Contribution Pension Schemes.
No employee received emoluments of more than £60,000 during the year
## **12Independent examiner's remuneration**
||||||**2023**|**2022**|
|---|---|---|---|---|---|---|
||||||**£**|**£**|
|Examination|of|the|financial|statements|782|787|
Page 22
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **13Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **14Tangible fixed assets**
|**Cost**
At 1 January 2023
Additions
Disposals
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
Eliminated on
disposals
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Land and**
**buildings**
**£**
954,059
-
-
954,059
-
-
-
-
954,059
954,059|**Furniture**
**and**
**equipment**
**£**
325,338
11,164
(2,650)
333,852
314,791
6,732
(1,000)
320,523
13,329
10,547|**Motor**
**vehicles**
**£**
3,300
-
-
3,300
3,300
-
-
3,300
-
-|**Other**
**tangible**
**fixed asset**
**£**
61,967
-
-
61,967
61,967
-
-
61,967
-
-|**Total**
**£**
1,344,664
11,164
(2,650)|
|---|---|---|---|---|---|
||||||1,353,178|
||||||380,058
6,732
(1,000)|
||||||385,790|
||||||967,388|
||||||964,606|
Page 23
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **15Heritage assets**
## **Heritage assets**
The Trust has designated How Hill as a heritage asset (included within Tangible Freehold Property) as it is an asset of historical importance that is held to advance the preservation and conservation objectives of The Trust.
The very long expected life of the property, due to its nature, value and need to be protected and preserved means that depreciation is not material and will, therefore, not be provided.
## **16Stock**
|**16Stock**|||
|---|---|---|
|Stocks
**17Debtors**
Prepayments
Other debtors|**2023**
**£**
6,048
**2023**
**£**
8,862
3,973
12,835|**2022**
**£**
7,400|
|||**2022**
**£**
8,389
3,358|
|||11,747|
## **18Cash and cash equivalents**
|Cash at bank
Short-term deposits
Bank overdrafts
Cash and cash equivalents in statement of cash flows|**2023**
**£**
5,261
86,760
92,021
(133)
91,888|**2022**
**£**
8,659
182,635|
|---|---|---|
|||191,294
(4,000)|
|||187,294|
Page 24
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **19Creditors: amounts falling due within one year**
|**19Creditors: amounts falling due within one year**|||
|---|---|---|
|Bank overdrafts
Bank loans
Trade creditors
Other taxation and social security
Accruals|**2023**
**£**
133
25,757
-
5,672
800
32,362|**2022**
**£**
4,000
35,617
693
5,490
3,640|
|||49,440|
Page 25
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **20Funds**
|**Unrestricted funds**
General
Designated
**Total unrestricted funds**
**Restricted funds**
**Total funds**
**Unrestricted funds**
General
Designated
**Total unrestricted funds**|**Balance at 1**
**January**
**2023**
**£**
193,238
928,370
1,121,608
4,000
1,125,608|**Incoming**
**resources**
**£**
349,431
-
349,431
-
349,431
**Balance at 1**
**January**
**2022**
**£**
256,021
928,370
1,184,391|**Resources**
**expended**
**£**
(431,746)
-
(431,746)
(3,867)
(435,613)
**Incoming**
**resources**
**£**
307,869
-
307,869|**Transfers**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
(25,689)
6,504
25,689
-
-
6,504
-
-
-
6,504
**Resources**
**expended**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
(362,878)
(7,775)
-
-
(362,878)
(7,775)|**Balance at**
**31**
**December**
**2023**
**£**
91,738
954,059|
|---|---|---|---|---|---|
||||||1,045,797
133|
||||||1,045,930|
||||||**Balance at**
**31**
**December**
**2022**
**£**
193,237
928,370|
||||||1,121,607|
Page 26
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
|**Restricted funds**
**Total funds**|**Balance at 1**
**January**
**2022**
**£**
3,938
1,188,329|**Incoming**
**resources**
**£**
7,200
315,069|**Resources**
**expended**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
(7,138)
-
(370,016)
(7,775)|**Balance at**
**31**
**December**
**2022**
**£**
4,000|
|---|---|---|---|---|
|||||1,125,607|
Page 27
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **21Analysis of net assets between funds**
|**21Analysis of net assets between funds**||||
|---|---|---|---|
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
13,329
954,059
110,771
-
(32,362)
-
91,738
954,059
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
36,236
928,370
206,441
-
(49,440)
-
193,237
928,370|**Restricted**
**funds**
**£**
-
133
-
133
**Restricted**
**funds**
**£**
-
4,000
-
4,000|**Total funds**
**at 31**
**December**
**2023**
**£**
967,388
110,904
(32,362)|
||||1,045,930|
||||**Total funds**
**at 31**
**December**
**2022**
**£**
964,606
210,441
(49,440)|
||||1,125,607|
Page 28
## **How Hill Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **22Related party transactions**
During the year the charity made the following related party transactions:
## **Friends of How Hill**
Donations made direct to the Trust - £Nil (2022 - £4000) and in addition paid on behalf of the Trust items amounting to £Nil (2022 - £4,589). These amounts are included within donations received.. At the balance sheet date the amount due to/from Friends of How Hill was £Nil (2022 - £Nil).
Page 29
## **How Hill Trust**
## **Statement of Financial Activities by fund for the Year Ended 31 December 2023**
||**Total**|**Total**|
|---|---|---|
||**Unrestricted**|**Unrestricted**|
||**Funds**|**Funds**|
||**2023**|**2022**|
||**£**|**£**|
|**Income and Endowments from:**|||
|Donations and legacies|31,731|69,251|
|Charitable activities|266,208|190,445|
|Other trading activities|37,928|26,995|
|Investment income|3,012|2,852|
|Other income|10,552|18,326|
|Total income|349,431|307,869|
|**Expenditure on:**|||
|Raising funds|(7,828)|(5,292)|
|Charitable activities|(423,918)|(357,586)|
|Total expenditure|(431,746)|(362,878)|
|Net expenditure|(82,315)|(55,009)|
|Net movement in funds|(82,315)|(55,009)|
|**Reconciliation of funds**|||
|Total funds brought forward|1,121,608|1,184,391|
|Total funds carried forward|1,039,293|1,129,382|
This page does not form part of the statutory financial statements. Page 30
## **How Hill Trust**
## **Statement of Financial Activities by fund for the Year Ended 31 December 2023**
|**Income and Endowments from:**
Donations and legacies
Total income
**Expenditure on:**
Charitable activities
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**Restricted**
**Funds**
**2023**
**£**
-
-
(3,867)
(3,867)
(3,867)
(3,867)
4,000
133|**Total**
**Restricted**
**Funds**
**2022**
**£**
7,200|
|---|---|---|
|||7,200|
|||(7,138)|
|||(7,138)|
|||62|
|||62
3,938|
|||4,000|
This page does not form part of the statutory financial statements. Page 31
## **How Hill Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|**Income and Endowments from:**
Donations and legacies (analysed below)
Charitable activities (analysed below)
Other trading activities (analysed below)
Investment income (analysed below)
Other income (analysed below)
Total income
**Expenditure on:**
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**2023**
**£**
31,731
266,208
37,928
3,012
10,552
349,431
(7,828)
(427,785)
(435,613)
(86,182)
(86,182)
1,125,608
1,039,426|**Total**
**2022**
**£**
76,451
190,445
26,995
2,852
18,326|
|---|---|---|
|||315,069|
|||(5,292)
(364,724)|
|||(370,016)|
|||(54,947)|
|||(54,947)
1,188,329|
|||1,133,382|
This page does not form part of the statutory financial statements. Page 32
## **How Hill Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|Legacies and bequests
Appeals and donations
Appeals and donations
Grants - other agencies
Grants - other agencies
Adult residential courses
Residential other
School residential visits
School day visits
Young persons events
Venue hire
Other income
Adult day visits
Other
Sales of donated goods
Sales of purchased goods
Income from other unlisted investments
Interest on cash deposits|**Total**
**2023**
**£**
10,018
-
19,713
-
2,000
31,731
15,612
4,115
178,394
13,856
4,779
45,649
-
2,330
1,473
266,208
7,460
30,468
37,928
3,012
-
3,012|**Total**
**2022**
**£**
-
4,000
39,251
3,200
30,000|
|---|---|---|
|||76,451|
|||24,641
300
129,506
15,126
632
19,916
324
-
-|
|||190,445|
|||4,261
22,734|
|||26,995|
|||2,479
373|
|||2,852|
This page does not form part of the statutory financial statements. Page 33
## **How Hill Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|Special events income
Wherry events
Garden entry
Shop costs
Catering costs
Event expenses
Course expenses
Sundry expenses
Cleaning
Motor expenses
Legal and professional fees
Bank charges
Wages and salaries
Staff NIC (Employers)
Staff pensions (Defined contribution) - pension scheme 1
Subcontract cost
Staff training
Travelling
Rates
Light, heat and power
Insurance
Repairs and maintenance
Repairs and maintenance
General maintenance
Telephone and fax
Computer software and maintenance costs
Hire of other assets (Operating leases)|**Total**
**2023**
**£**
6,744
(140)
3,948
10,552
(7,828)
(7,828)
(33,532)
(618)
(12,446)
(2,999)
(2,071)
(669)
(1,419)
(465)
(241,970)
(17,108)
(11,637)
(10,485)
-
47
(2,123)
(27,846)
(23,840)
(3,867)
(13,795)
(9,559)
(1,802)
(429)
(744)|**Total**
**2022**
**£**
11,637
920
5,769|
|---|---|---|
|||18,326|
|||(5,292)|
|||(5,292)|
|||(21,704)
(419)
(4,654)
-
-
-
-
-
(214,890)
(13,722)
(10,445)
-
(14,219)
-
(3,029)
(27,341)
(21,763)
(7,138)
(8,462)
-
(1,574)
(1,883)
(793)|
This page does not form part of the statutory financial statements. Page 34
## **How Hill Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|Legal and professional fees
Bank interest payable
Depreciation of plant and machinery
Depreciation of fixtures and fittings
(Profit)/loss on sale of tangible fixed assets held for charity's own use
Independent examiner's fee|**Total**
**2023**
**£**
-
(894)
(4,802)
(1,930)
-
(782)
(427,785)|**Total**
**2022**
**£**
(690)
(1,589)
(7,656)
(3,066)
1,100
(787)|
|---|---|---|
|||(364,724)|
This page does not form part of the statutory financial statements. Page 35
## **SIGNATURE CERTIFICATE**
## Document
Name **2023-12-31 - Accounts for approval by client.pdf** Creator **David Wright (david@wrightaccountancy.co.uk)** Date **25 October 2024 11:46:10 UTC** Identifier **652028cf-a30f-467d-bff4-396432bd7ce4**
## Signers
## **mikeandjeanne@btinternet.com**
E-mail **mikeandjeanne@btinternet.com** Signed **27 October 2024 12:53:56 UTC** IP address **109.154.190.111**
## **richardjbatson@gmail.com**
E-mail **richardjbatson@gmail.com** Signed **28 October 2024 9:35:51 UTC** IP address **86.165.7.117**
## **SIGNATURE CERTIFICATE**
## Document
Name **2023-12-31 - Accounts for approval by client (Signed).pdf** Creator **David Wright (david@wrightaccountancy.co.uk)** Date **28 October 2024 10:20:00 UTC** Identifier **bf97a4aa-9861-44f0-84cc-9b9bba0dd543**
## Signers
## **David Wright**
E-mail **david@wrightaccountancy.co.uk** Signed **28 October 2024 10:20:21 UTC** IP address **81.155.108.67**