**Charity Registration No. 294481** ## **THE HANANIAH CHARITABLE TRUST** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 5 APRIL 2021** ## **THE HANANIAH CHARITABLE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mr S H Smith Mr S Smith Mrs N Hogeboom **Charity number** 294481 **Principal address** Keswick Church Hanborough Witney Oxfordshire OX29 8AA **Independent examiner** Chapman Worth Limited 3 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY ## **THE HANANIAH CHARITABLE TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1| |Independent examiner's report|2| |Statement of financial activities|3| |Statement of financial position|4| |Notes to the financial statements|5 - 10| THE HANANIAH CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2021 The Iruslees present their report arKI finandal stslenwnls for the year endwj 5Wil 2021. The financial statements have been prepaied in accordance WTth the accountsng poliues set out in note 1 to the financial slalemenls and compty with Ihe Chari￿s tgovemirvJ doujmenll, the Chartties Act 2011 and "Aecounling and Reportlng by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordanck wilh the Finandal Re[￿ting star￿ard appllcable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019)". Oblectlves and activlti The main charity objective is lo prowde financial $L￿p0rt lo low paiy miss1on8￿5 and their farrmlies arkd Ihelr work 8nd lo provide financial support Nthere thought necessary lo otf*r deswwr¥J ￿USes. The Iruslees have paid due regard lo gU*Jan￿ issijed ty the Chadty Commisslon on publlc benefjl In decidlng what activities the chafity should undertake. Having reviewed their assessnEnl of the major fisks lo which the charity is expose(J. the Trustees are satisfied thal syslems and procedures are in place lo miligale thè charlty's exposure lo the major risks. Achlovemgnts and ￿rtoM7•n¢0 Having pursued the main objectives of the charlty. the TTr￿tee8 are able lo report th81 glfts and donatlons lolalliro £17,36712020 £33,420) v*re pald oul duriThJ the year. Further shares have been purchased during the yeaf lolalling £367.405 to expand the ¢h8rllies investment portfolio in 0￿er lo secure further inveslrrEnt incom for ts future ¥thich wll allow the charity lo contsnue lo meel the charitable objectives in the long term. Fln¥n¢lal rovlow 11 is the policy of the Trustees lo maintsin suffident roserves in the general fund to continue meeting the Charity's objects for a foreseeable period, even if the￿ were a de￿aSe In Its Incomlng resources. Freely available regeryes for the year ended Slh Aplll 2021 total £91.342 {2020 £4(6.4291 whlth ale in excess of the reserve$ pollcy ho￿￿[ the trustees are looklng lo purtha8e a proFety in th8 future lo diversify Ihe charities investments. Structuro, govemance and management The tharity is an unincorporated charity registered wlh Ihe Ch8rliles Commission for England and Wales. The Iruslees served duriTrJ the year an(1 up lo the date of signatwe of the financlal slalemènts were.. Mr S H Smith Mr S Smith Mrs N Hogeboom The management of the charity is the responsibilty of the TrUs￿S aTrJ If￿r Stslus has not ch8tvJed since the last report. The trustees, re rt was approved by the Board of Trustees. Mrs H Smlth Trustee Dated.. 9/. THE HANANIAH CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HANANIAH CHARITABLE TRUST I r¢port to the trustees on my examination of the financial slalements of The Hananiah Charitable Trust Ithe charity) for the year ended 5 April 2021. Responslbllltles and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Aetl. I report in respeet of my examination of tha charity's finantial slalemen15 carried out under sèction 145 of the 2011 Act. In carrying out my examination I have followed all thè applicabl8 Directions given by the Charity Commlsslon under section 14515llbl of the 2011 Act. Independent examlnerfs statement Your attention is drawn to thé fact that the charity has prepared financial $tal8ments in accordance with Accounting and Reporh'ng by Charities preparing their accounts in accordance with the Financial R8POrting Standard applicable in the UK and Republic of Ireland IFRS 1021 in prefèrén¢8 to the Accounting and Reporting by Charities.. Statement of Recommgnded Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. l undèrstsnd that this has been done Sn order for financial ststemenls lo provSdg a true and fair view in accordance with Gonerally Accepted Accounting Pra¢ti¢e effective for reporting periods beglnnlng on or aftor 1 January 2015. I have completed my examination. I confirm thal no matt6rs have come lo my attention in connaction with Ihts examination giving me cause to believe that in any material respect.. accounting records wore not kept in respect of the charity as required by section 130 of the 2011 Act.. or the financial statements do not 8c¢ord with those ￿COrdS-, or the financial statemonts do not comply with the applicable requirements concerning Ihe form and content of accounts set out in the Charities (Accounts and Reports) Règulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part ol an independent examination. I have no concerns and have Come across no other matters in connectitsn with the examination to whi¢h attèntion should be drawn in this report in order to enable a proper understanding of the financial statements lo be reached. A Chapman IFCAI Chapman Worth Limited 3 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY Dated.. Lrli(JLcU ## **THE HANANIAH CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 5 APRIL 2021**_ |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**2021**|2020| ||**Notes**|
**£**|**£**| |**Income from:**|||| |Donations and legacies|**3**|61,000|352,361| |Investments|**4**|1,037|1,248| |**Total income**||62,037|353,609| |**Expenditure on:**|||| |Charitable activities|**5**|20,347|36,772| |Net gains/(losses) on investments|**9**|94,448|(45,670)| |**Net movement in funds**||136,138|271,167| |Fund balances at 6 April 2020||654,732|383,565| |**Fund balances at 5 April 2021**||790,870|654,732| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 3 - THE HANANIAH CHARITABLE TRUST STATEMENT OF FINANCIAL POSITION ASAT 5APRIL 2021 2021 2020 Flxed assets Investments 10 703.088 248,303 Current assets Debtors Cash al bank and in harxl 12 11,975 76,767 450 406.939 88.742 407.389 Creditors: amounts falling due withln one year 13 (9601 Nel curTent assets 87,782 406.429 Total asset$ less Current Ilabllltles ,870 654,732 Income funds Unrestricted funds 790,870 654.732 790,870 854,732 The finanual Statements ￿re appmved by the Trustees on .......... Mr S H Smith Trustèe ## **THE HANANIAH CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 5 APRIL 2021**_ ## **1 Accounting policies** ## **Charity information** The Hananiah Charitable Trust is an unincorporated charity registered with the Charities Commission for England and Wales. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have assessed the financial position of the charity and the potential impacts of COVID-19. As at the 5th April 2021 investment values had increased by approximately £95,000. The trustees anticipate the investment portfolio to increase in value next year. The charity maintains a strong cash position which will enable the charity to continue it's charitable objective should income reduce. The trustees therefore have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. ## **1.4 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 5 - ## **THE HANANIAH CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2021**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Resources expended** All expenditure is recognised on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be reliably measured. Expenditure is categorised under the following headings: -Expenditure on charitable activities includes the costs of activities undertaken to further the purpose of the charity. -Support costs are those costs incurred during activities that are no directly associated with the purpose of the charity. -Governance costs are the costs associated with the governance arrangements of the charity. ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.8 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. - 6 - ## **THE HANANIAH CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2021**_ ## **1 Accounting policies** ## **(Continued)** ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2021**|2020| ||**£**|£| |Donations and gifts|61,000|352,361| |**Investments**||| ||**Unrestricted**|Unrestricted| ||**funds**|funds| ||**2021**|2020| ||**£**|£| |Income from listed investments|1,037|1,248| ## **4 Investments** - 7 - ## **THE HANANIAH CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2021**_ ## **5 Charitable activities** |Charitable expenditure
Share of support costs (see note 6)
Share of governance costs (see note 6)
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Investment portfolio
charges
2,020
-
Accountancy
-
960
2,020
960
Analysed between
Charitable activities
2,020
960|**2021**
**£**
17,367
2,020
960
20,347
**2021**
Support
costs
Governance
costs
**£**
£
£
2,020
2,392
-
960
-
960
2,980
2,392
960
2,980
2,392
960|2020
£
33,420
2,392
960
36,772
2020
£
2,392
960
3,352
3,352| |---|---|---| ## **6 Support costs** Governance costs includes payments to the accountants of £ 960 (2020- £ 960 ) for the independent examination . ## **7 Trustees** None of the trustees (or any persons connected with them) received any remuneration , benefits or reimbursed expenses from the charity during the year. During the year the charity received unrestricted donations totalling £48,800 (2020 £281,500) from trustees. ## **8 Employees** The average monthly number of employees during the year was: ||**2021**|**2020**| |---|---|---| ||**Number**|**Number**| |Total|-|-| - 8 - ## **THE HANANIAH CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2021**_ ## **9 Net gains/(losses) on investments** |||**Unrestricted**|
Total| |---|---|---|---| |||**funds**|| |||**2021**|
2020| |||**£**|
£| ||Revaluation of investments|94,448|
(45,670)| |**10**|**Fixed asset investments**||| ||||**Listed**| ||||**investments**| ||||**£**| ||**Cost or valuation**||| ||At 6 April 2020||248,303| ||Additions||367,405| ||Valuation changes||94,448| ||Disposals||(10,628)| ||At 5 April 2021||699,528| ||**Carrying amount**||| ||At 05 April 2021||699,528| ||At 05 April 2020||248,303| |**11**|**Financial instruments**|**2021**|**2020**| |||**£**|**£**| ||**Carrying amount of financial assets**||| ||Instruments measured at fair value through profit or loss|703,088|248,303| |**12**|**Debtors**||| |||**2021**|**2020**| ||**Amounts falling due within one year:**|**£**|**£**| ||Other debtors|11,975|450| |**13**|**Creditors: amounts falling due within one year**||| |||**2021**|**2020**| |||**£**|**£**| ||Accruals and deferred income|960|960| - 9 - ## **THE HANANIAH CHARITABLE TRUST** # **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2021**_ ## **14 Related party transactions** There were no disclosable related party transactions during the year (2020 - none) . - 10 -