Ref T9873..'1649451CL003854 THE J C. HOC.C CHARITABLE TRUST REGISTERED CH.4RITy.￿'￿,vBER.. 2991142 REPORT AIYD FINANCIAL STATEMENTS for the vear ended 5 April 2023 Ludlow Trust Compan)" (London) Limittd ¥ih Fl(K>r I Sou¢harnpton Stre¢1 'C2R 01.R THE J G HOGG CHARIT.4BLE TRUST CONTENTS Page Trustees, Annual Report Auditi)rfs R¢w)rt Statement of Financial Aeti%'iiies FlultmLL qhLYl Noi¢s 10 th¢ Aiiounis 10- 15 THE J G HOGG CHARIT.4BLE TRUST TRUSTEES, ANNLAL REPORT FOR THE YEAR ENDED8.4PRIL 2023 Referente and AdministrAtii'e Informatio Seitl()T John Cits14Jth)mugh H()gg (died l%t_4ugw%t 2003 Constitution Trust Deed- 8 December 1987 Trustees SarJh Jane Houldsliorth W%nfr¢dts Tur%o' Naiure ol I rust A regis￿red eharrl). ii'rih the Charil). Commi5sioner5 for England and Wale5. Chariii. numkr ?911)42 RegisiLTcd Ol'IILe l.uJl()M Truv Co Ltsl Ipreviousl). Messts. Hoar¢ Trus￿e$. 37 FIL￿ StrL'cL Li)ndon 1.'('41) 41X)I .1 (Iiicr Wharf C heese l.ane Rrisiol B52 OJJ BunkLr5 ('. IliiJrL & C o. 37 1.'lL￿¢ %ireL¢ l.c)nik)n l.'L41> 41)Q InvL'SIrnLnt Mana8LY% (.￿.Ln(l1'L. C'Jpiial Manu8ement I l.i)ndon I4'all Place l.c)nilon I.'('?Y SAU In%.L￿[ce Wcalih & InvesLmLmi IIIKI 30 (IfL'%hJm StrL* l.(Trndpn Adminisiralor5 Ludlow Tru51 Compan). (Lonthnl Limiied Ilomicrlj Mc5sr5 Hoare Truslcc5 LiMi￿d 37 Fleei SireeL Londi)n l--C4P 41)QI 8th l.'IIKir 1 Sou¢hampton 5tr¢d WC2R OLR SoliLjiof8 iihers l.l.P 16 Old Ilailr) l.ondon LC4M 7L(i Auditors Bluc Spirc Limitcd Caii'lL% Prioo. Sc?uth PJllani C'hich¢5ter P019 ISY TIIE J G IIOLL C.-IIARtT.4BLE TRI'ST TRIISTEE4' REPORT OR TIIE I'EAR E)DED 5 APRIL 2023 The Tn15tees present their annual rwrt aknnB iiith the finaKial 5Lifrtnenis of the chaTity fot the N'ear ended 5th April 2023. The f1naniial su8ittnents haie been pr¢paYed Ih aCLwJan￿ iviih the acciwniing FX)li¢ies i¢1 Out on page$ 10 and I I and conipl> ￿1th the chariii's Tn￿1 Deed_ the Iharities Act 2011 and the requirements ol'the %iatemeni of Recnmmended PrdiliL<' appliLable Iv Lhdrilie5 pfL'parin8 theiT aLYuunis in aLcurdance i%ith the FinanLidl RLTurtin¥ Standard appliLable in th¢ IIK and R¢public of [r¢i9t￿ IFRSI(b21 ¢ff¢cuve l JanuaTh' 2015. {Chari￿ WRP(FRS10211. %lruclure (iovernance and Man Th¢ Lharit) ¢r¢at¢d b). a tk¢d ol'Tru¥ da￿d 8 tk¢¢mFw 1987 b). th¢ S¢ulor. John Cjoldsborough IIoEg. Th¢ Settlor died on l Augiist 2UOJ. ThL Will vl'ihL' SL'iilur pTl￿'idL'd fur the residuaTS (￿tall. lu be heid utKm In￿ Mith the income lo ￿ paid iu his M?fL' Mrs Sarah F.diih Ili)gg f￿r l.ift. Mr% Ilogg ditd 27UI March 2021 and h¢r ￿.11[ pm¥ed on 8th Ike¢iDkr 2021. nii her death. her interest in ih¢ trnst, ￿hIch %4as i7.212% remaind¢r shar¢ ol'the Will"In￿. passed io the Charli￿. FUnh¢rni0￿, IhL laiL' Mr¥ Ilu¥g b pn)PLYtI. Ol¢J Bruad Oak. P￿￿$L￿1 Iv IhL CharilObl¢ T￿￿¢ by vifiut of M'ill da￿1 24ih rebn￿ry 21117 p¢r thl [k.i￿ ol'App)inim¢ni daicd 24th 4L'Memb¢r 2021. '1'h¢'I'￿t Is r¢8lSt¢r¢d Nith th¢ Chariiy Commi&sion und¢r nwntKr 2M42. ThL POISL'r uf appointing ncii. or ￿dIllo￿al Thstcd Mith Ehc Seillor durinK hi$ lif¢rimc. IhL his dcath Ihc oppi)iniment passed 10 the curreni Trustees. -I'ht C'harii) is managtd the TnJ4ie¢%. iiiih dail) sthinistiaiiiw kin8 dcali ii'ith bj the AgenL& Mt44rs. Iloare -I'ru%iL¢%. Nu fundrai%ing ail1I'i11¢5 art und¢nak¢n %uprAJrt lh¢ of th¢ C-liarii!.. 'I'h¥'lTU.sW'L% hav¢ ￿￿W¢15 of inv¢sm¢nl. 'I'IIL 'I'ru%liL.s arL' i)bligL￿ 10 knld the Capitsl knd income of C'lthrily th typli all or part to or for Ihe k.nL'fii Of such churiiablc in%iiiutions. or8#J)isJtions or purrx)ses As kn. shall think fil. IkinJiii)lls arL' (k'iidLJ tKriiidi4all! paid Ji th¢ Tru%rL%%' di%cr¥Elon. Ilii%oli¢iia a￿￿1% Br¢ wn%idLr¢d I￿11 LEIU%L'.% whiLh havL kL'n Sup￿rtLY1 in thc p&s1. 1)nl)' succcssful applicants are nth11￿1 ol'the'fn]51cL'5' dLYiSiTrn. Thc I'rusi Tr)li¥y ol'ni)I m¥king donal1￿L% Its indi%"idua15 and thL'I'nisiei¥ rL8rLi th￿. in wdl'r 10 kLYP adminisif41i%L U)Sts 10 a iiiiniiiiuiii. IhLy arL' unahlL ID rl'the Iniestec wrtliklio I'T￿ 3F.'. futKi"I passing lo the C1J3rit!" on Mrs I1(￿￿.5 death 14.as £2.962.816. Th¥ TrusiLXS art. S*115fied %%ith the finan¢ial of ¢k Ch￿1). ￿ thai the%" have sutricieni assets a￿ailable 10 fuifjl their obligations. Risk Mana etnent The Trufjlees have considered what risLs the ch3ril)' faces and believe these fraud or tKx)r investment t￿rfO￿n￿￿Ce. Adequa￿ systems are in pla¢e Iv miliga* fraud and inve5th*th1 p*rfornJan¢e is wlari) monilorni. Page2 TIIE J G IIOLL C.-IIARtT.4BLE TRI'ST TRIISTEE4' REPORT OR TIIE I'EAR E)DED 5 APRIL 2023 In￿e￿IllIent Poliii and Perfrornianc£ Tlie TnL%tee£ nia% use their ab￿lUte discretion to ￿le h￿IdS olthe QThariti' think fiL Tlie uji'esuijeiit strgteg!. Is 0￿er5een by the Irusiee5 and investment manageJ5. Mth05e ErrfiKtnance is iEnchtnJtked againsi the tat¥e15 as the Trus1'S Ink¢stmLml PoliL) StstrmtnL The o%trall invtt4meni Slrakw b> w achi•¢ Iithg trmi capitsl BrO￿th in real C'dL in rts¢rv¢. I'h¥ intinlion orth¢ Trusl¢¢s is lo conlinu¢ Mith th¢ prts¢nl p)licY Mith r¢8ard 10 Inv￿M¢n￿ a￿1 donaions. Page 3 THE J G HOGG CHARIT.4BLE TRITST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 8 APRIL 2023 StAtement of Trustees, Responsibilities 'I'he -1 Tusiees are resrMTrn5ible for preparing ihe Re￿rt of ihe Trustee5 and the financial sthtements in accordance with applicable law and accouniing standards (United KiThgdom Generallv A￿pted Accounting PraLticel. CharitN' law requires the Tnjsices to prcparc linancial s￿lements for each financial pcriod thai gil'e a tn]c and fair Niew of the state of aflairs that the charili and of the incoming resources and applieaiion ol- re8ource& including the incorne anLI ¢¥￿￿￿TIUrt. ul-the Lharity foT the ￿ri(MJ. In PTtpaTiDg the finaDLial 5UteTnenis'. the TTuslee5 are re4lUiTe(J to.. - seleet suitable accounting w)licies and apply ihem consistrntlN'- ¢ompl%' %￿lIh appliLabl¢ a¢Louniing sthndard% includin8 FRS102. subj¥Yi LO on), material depanurcs di%LlI)%ed and explainixl in ihL financial staicmLmL%', 51uiL whL*hLr u StulL'mLnl (If RLL(ImillLndLxi PrnLIiLL i%nRPI has bcen fiill(Iiic￿ subjeLt l(} uny rnuleriul dtpurturL￿ whiLh arL cxplainLd in the linaniial s￿1￿Men15. make jLidgemenis and estimates ihai are rtrLg)nable and prudent: prepare the linanLial siai¢ments on a going ¢on¢em ￿15 unless li is inoppropria¢¢ ￿ presume thai lh¢ Lharily iiiII LOniinu¢ 0￿raIl￿g. ApprL)NLid bj thL I'NsiL*% on= 1911212024 I)JlL Sarah Jane Houldsworth SarJh Jane I l(iuldsworth .1 rust¢¢ Joanna Wynfreda Turvey............... . . Joanna Il')"nfreda TuThey Tntsi¢¢ THE J G HOGG CHARIT.4BLE TRITST AUDITOR'S REPORT FOR THE YEAR ENDED 8 APRIL 2023 Independent Auditor's Report to tbe Trustees of The J G Hogg ChAritable Trust Opinion WL hLIIL audited thL linancial staiLmenis ot'Thc J G Hogg Charithblc Tnjsi Iihc 'charity'l for the Year endcd 5 April 2U23 w'hich comprise Ihe Staiemeni of l.'inancial Aeiii iiies. Ihe Balance Sheei and note5 ￿ the financial ststements. inLlu(ling 5ignifiLant acc(iunling wiliLies. "I he financial repKirting framolork thai has been applied in their PTeparati(In is appliL(ihl¢ law Ilnil¢d Kingdc)tn ALL(iunlin¥ %1(￿l￿r(L%. in¢lUJin￿ Finthcial R¢tM)tling l(12 The Finunci(Jl RÈpoi'liPIR Sitskkldrd tsppliLttble il* LA Repiiblit of Irelttthl IUnikn1 Kingdom Gencrdll), Accepted Ac£ouniin8 Practice). In i)UT l)Plrtiiin ihe linartLial_%iaiLmeni%'. '8INe a true and lair i'lei% ol the stale ol'ihe charii! s alTairs &s 815 April 2023. and of its incoming res￿)ur¢es and appliLiiii()n ol-rLsource5. lor the >'car then ended.. +hai'L ￿￿en propcrli. prepared in acLoTdancc ii'iih lJniicd Kingdom (iencralli. Accepted Aecounting Praciice: and *hLlI'¢ bL'¢n prL'P)r¢d in )iiordan¢L ii'iih ¢h¢ r¢quir¢m¢nts ol'ih¢ Lhariii¢s A¢¢ ?01 l. ther matter 'I'hL IiDl'¢h¥ ¢uM'ni yiar d(> no¢ iM)t)thin an). ma¢¥rifjl mi$sts￿m￿tIts. BH515 for opinion WL LiinJuLILJ iiur audii in acL(TrTdanLe with 1Th￿rnatIOnal %￿ndards 4)n Audiiin8 IIIKI II%As 11 IKII and appliLdhlL law,. l)ur rL%y)n%ibililiL% undLY thiisL siJn4Jards' JrL furthLT dLsLrikYJ in thL Audit()r s TL%IK)n%ibililiL'% l(IT IhL audii ()I' thL linJniial %lJlLmL*is %L¢iiin Ill. (IUT T&tMirt. Wi indLtKmdt'n¢ (If ihL Lharil). in uLxJ)r(lunLL 14iih ihi LihiLal rLyuirLmLnt IhJi drk r¢'l¢i'Jni ti) (iur audi¢ ol. lh¢ linanlial siaiim¥nL% in ihi I IK. in¢luJing lh¢ l-'RC"% l.'Ihi¢al %undard. ii'i hai¥ luliillL.d (iur i)IhLr LlthiLdl rL'%P(insihilities in JLLC)rdanLI' 14.iih ihL*L' fLyuircmLmL4. We k.liei'c ihat ihL audil Li'idL'nLL havl Libiained 15 suIIiLient and *LppftTrpriale io prol'ide a basis forouropinion. Conelu51on5 rtl¥iing ¢0 golthg ¢on¢¢rn In audiiing thL linanLial.sldiLmLlli%. %%L hd%e wncluded th￿ ihe irusiees use ofthe 8OLn8 concern b&si% ()1'aLL￿unlln8 in thL prLparation ()I'thc linancial slatcrncnLs is approprialc. B&%Ld on Ihc i%'ork w'e have wlornicd. wc havc idenlificd ani. maiLYial uncertainties rclaiing to cNcnt5 or condilions that. indii-iduall}' or Lollcclii'cly. mai cast 5ignilicanl on ihc charil&'s abilit￿ lo continuc as a going conccm for a riod ol-at l¢a5t Iw'¢lwe months from u"h¢n the financial 5th*mcnts are authori5d for issue. l)ur r¢bw?nsibilitllS ond th¢ resrK>nsibiliii&s of ¢h¢ tr￿$*¢$ itrith to going wnr¢rn are ￿e￿riE¢d in lh¢ r¢I¢v￿l eLti()n% i)f this rewrt. Other information The other information comprise5 the inloTrnalion included in ihe ITUSltes' rerorL other than the financial stslernent5 and our auditor 5 report ¢h¢reon. OUT opinion the financial 51al¢rn¢nts Ik)es nol coi'er the other information and. ￿cePt to th¢ ¢ileni (Ith¢niib¢ eipliLitlN slalrd irt uui rw?rL Is"¢ Ik) niTrl ¢Npr¢ys fom (if axsurnnL¢ ¢x?nLIusii)n ih' incon515tenl i1.ith the financial sla¢ernents or our K"noii"ledge obtsined ID the audil or otheni.ise aPFrars to bt rnaterially misbtated. If i%"¢ id¢ntili" %ULh mat¢rial irtLiin%isi¢nLj¢S (IT dPPaTent mai¢rial mI.%sts￿M¢nl$. dr¢ Tequir¢d i(1 determin¢ heiher there is a maierial mi%siatement in the finanLial Slaiements i)r a maLerial missmiemeni of the other inlormaiion. It.. based on the ￿'ork we ha￿'c perlomied. li'e conclude ihai ihere is a material mi5SLqiemenl ot-this other infomiation. we are requir￿ to report that facL We ha￿e nothin8 to repon in this ward. THE J G HOGG CHARIT.4BLE TRITST AUDITOR'S REPORT FOR THE YEAR ENDED 8 APRIL 2023 1atters on which we are required to report bv exception Wt hai'e nothing to report in re5peLI ol- the lollviiing matleT5 in Telation to i4thich the ChaTilie5 IAccounts and RqK)rt51 RegulJiic)n% 2(1)8 requiTe u4 Its Tew)rt li) if, in ()ur (Ipinic)n- .the informati(In given in the finanLial statements 15 inconsimcni in an). malcrial respect i¥ith the tTU51ees' reporL or "5uIIiLient aLcounting records have n(ki been kept- or +ihe Iinancial slaiemcnis Llrc noi in a8reemcni iyith the accouniin8 recoft1s: or •we have noi received all th¢ intom￿l￿n ond ¢_xplanJtions lie require torow 0￿dI1. Re$pon5ibilities of tThsttts As explained more lull) in the statement of In￿1￿5. r£s￿nsIbIlItIes. the iru5tees are reS[￿)nsIble for ihe preparaiion ol- IIDunLiul %tatemenl.4 ivhiLh gil'¢ a Irue s ahiliii. ts) coniinue as a gi)ing Li)nLLrn. disLlosin¥. as appIiLablc. maiieTS rclaied 80in8 LonL£rn and usin8 (he going Ll)nLLrn hJsi5 01. acc(iunlin8 unlL5% thL tru%tLL% Liihcr inlLnd iii liquidatc ihe churit). ()r ts) cvdse ()￿￿ti()n* or hui'c n() reuli5¢ic aliLrnulii'L bui iii d(} Auditor's responsibilities for the audit of the fin*n¢i*l staltments I'L ￿p￿)In1l￿ as iiudiiiir und¥r .%i¥liun 144 ul. Ihi L'hariiics ALI 2011 and rewrt in aLLordan¢L' Iviil) r¢gulJ¢ii)ns mad¢ undir s¥¢¢lC)n 154 1)I'ihai Ai¢. ()LIT l)bjLLtI%L'5 are to (IMuin rwa50nable a5surnnLY uixbut whether ihe financial SialL￿Ents whiilL arl" fTLL fnirn niatlriul mi%sldlLmcn¢. i%hthhcr du¢ ii) frnud or crmr. and 10 i*suc an ilULliior's rqx>rt thilt includC￿ 1)ur i)pini()n. IILa%i)nablL d%%urani¥ 1.% J high livLI ()f&s%urJnii. bu¢ is noi a 8uaroni¢x' Iha¢ Jn audi¢ ¢onduiityJ in JLLI?r(liin¢L w'iih I%A I IIKI will JlwJ)'% d¥t¢KI d mot¢riJl mi*%thi¢mini iihin IL ¥XiSl%. Mi%%Llt¥m¥nts ian dri%¢. IT4)m i)r ¢rri)r tind Jrn. Li)n%idLrLd matLrial it.. indii'iduall) or in IhL a88fl8a￿'. IhL)' wuld mwnabl). ￿ eNrKclcd ￿ influcnLL thL LLI)nnmiL dLLl5i(In% ul-u5ir% ukcn thL basis of ihc5c linanLial 51atcmcnts. IrrLbiilariiiL'%. inLludin8 frdud. JrL' in*ianLe8 1)fnc)n-LcTrmplianLe ii-ith lai1% and rL'gulaii(Trn%. dL'%ign PTI)LL.durL'% in line %i'iih i)Iir rLSPt)nsibililiLS. C)uilinLd a￿15.(.. ￿) dLILxI maierial missLaiLYllLnts in respcLI (Trl. irrLgulaTjIjL%. illLluJing fraud. 'I"hL LNtLnt io which our pr(>ccdurLS arc capablL ofdL4Lclin8 lrrcgulariiiL￿. including Iraud 15 dllai1l￿ bclom,. BL4Ld on Olir undLr.%ianding ol. IhL Charii> and the industs). ITh ilhich Li 0￿rates. we idcnilfjL￿ ihL prinLipal law% and rLgulation5 that dircLtly atlcct thc linancial 51alcmcnis thc C'haritiC5 Act. and Truslcc Act. We aSsL￿Sed ihc cxlcnl ofconipliancc m.iih ¢hes¢ lams and rcgulations a5 part of our pr(K¢dure5 on the relat￿ finanrial slalcrncnt ilciM5. In addition. thc CharitN' is subject to mans. other la115 and regulaliLMS ivhere the conscqucnce5 of non-cornplian¥c could ha￿.¢ a mai¢Tial eflect on aniounls or di5c105ur¢s in the financial 51atements. for instance through the irnposition of fine5 i)r li¢igJti()n. As (in ini¢stm¢ni lind 4knnaliiTrn fund¢d granimakrr th¢re 15 a limi￿l￿n ￿ ar¢a5 mosi lik¢li" lo hJi¢ such an elleLt. Auditing.%iandar(L% limit the required audii pr(Kedure% ii) ideniif! n[￿n*￿mplIanle wilh ihe* laws and regulatitsn io enquiTh ot'ihe Trustees and other management and inspeciion ot'regulatoTr and legal eorresw>ndence if any. Audit pr(ILedur¢s p¢rf(Irmed b%. lh¢ ¢n¥Jg¢m¢ni tedm inilud¢J= .EnLlUlrn' ol-lhosc charged li.iih goTrernanec anwnd aciual and p>Leniial liti8aiion a￿j claims and an> ins(ance5 of non- compliance with laI￿S and regulations.. •RLI'ic%¥ing minutC5 01-mcciings ol-lhosc chargcd %iiih 8oiernance.' .Revi•N'ing tinancial 5taietn¢nt diK105ure5 and testing Io SUPIK)rting Ilocutnenlation to a55e55 compliance ￿7th applicable laiv% and regulaii()ns. THE J G HOGG CHARIT.4BLE TRITST AUDITOR'S REPORT FOR THE YEAR ENDED 8 APRIL 2023 Bccause of the inherLni limiiaiions of an audit. thcrc is a risk. that ii"e ii'ill not dcieci all irrc8ularitics. including thosc leading to a maierial misstatement in ihe fjnancial ststrments or non-eompliance ii.ith regulaiion. This risk increases the tnore that compliance i￿11h a law OT regulaiion 15 remoi.ed from the ei'ents and transaction5 reflecied in the financial iaiernent%. a% ii"e M ill k lei% likel) t() ￿l￿Tne aiYar¢ (Jf in_%tanLe4 ()fnc)n*x?tnpliaTrLe. The ri4k" 14 al%ts gT¢ater T¢gaTding irrcgiilarities occurring duL to trdud rather than error, as ini'olics inieniional LoncoalmenL forgery,, c4)Ilusion, omission or misrepreseniLltion. A lurther descripiion of our r¢s￿nsibl111ieS is ai'ailable on ihe l.inancial Re￿rtIng C'ouncil's ii'ebsite at.. hitPs..Iliiww.fTC.(ITg.uklOur.WorklAudiUAudil-￿d-aS5ur&￿cei￿t￿￿daTdS-a￿d-gUida￿cCl%￿￿dIlrds-U￿d-￿U1danCe-f0r- udili)r￿AvJl¢or%-rLwtM)n5ibIlltlL*-loT-auJlVDlslrip[lOfftWU1..#￿dl1￿￿-rl%rmj￿$Ib]IIll&%-jiJT-3￿dl[.W%p.X. dLsLription torns part ot'our auditor's r¢p)n. Ilse of our report Thi% T¥PI)Tl 1% m4dL s()Icl} 10 ihc iharit) s twqccs. &% a Ixxl!.. in aCiordan¢¢ ii'iih Part 4 of thc Chariticq IA¢couniq and RIN)rtsl R¢gulaiic)n$ 21X)8. ()ur audii M'ork has und¢￿aken w ihai 11¢ mighi %tst¢ ts) IhL Lharii> s InJsiL¥s ihos¥' mJiiL'rs iYL arL rL'4uifLd 10 slat¢￿ io ih¢4n in an auditor's r¢rx)rt and tor no oih¢r purwx.. I'o Ihl fullcsl L.xleni pcmiitlL4d bN law. WL d(1 ni)l ￿lLpt i)r a5sumL rL￿pOnsIbl111). ￿ ani'()ne oihLr than the Lharii). and the LhJriLy'S trUs1LX￿ as a kndy. for (iur (iudit w()rk., l()r Ihi% rl ￿)rt. or r()T IhL ()pini(In.% ii'L hail r(JnnLyJ. L'hiLhL*ILr WL'%I Su%%L'x IlluL tspirc l.imitLd. sia¢uiorn Audiior 12120124 IlliiL. .Spir¢ l.i•Iil<'(l 15 eli¥ihle Joi. uppoinimeni as aiidilor OJ ihe rl¥wity bi. I,1r1￿ of 115 Ellgibilili'.for oppoirtimerti as THE J G HOGG CHARIT.4BLE TRUST BALANCE SHEET ASATSAPRIL2023 Note 2023 ?022 FIXED ASSETS Investments 3597.539 9911.799 3J97J39 998.799 CURRENT ASSETS Donated asset- available for sale Ca%li at Ilank C. Iloare&. Co Roial Tlank ol'SLoiland Cu4LDc)￿L Ciipitsl ALLI)unt C'akkn()ie InLI)rne ALcounl In￿<￿[¥¢ Capital AL¥thurtt In￿LStLL InL(ImL ALL(iunt 6,932 2.449 2.493 330 79,524 ¥1.973 Dchiors 39,605 81.4173 CIIRRENT LIABII.ITIES L'rLdili)rb- lalling du¥ wi¢hin ()nL %'LYr i() 149JS3 441,772 NET C'URRENT ASSETS 2.731.766 32,201 TOTAL ASSETS LESS C.'IIRRENT LIABILITIES 6J29J(IS 1,031.0(K) Crcdit(IT5- lalling duc allcr morc ihan onc )car- gran15 pa)'ablc NET ASSETS 6289J05 l.oi l.O(Kl CAPITAL FUND Expcndablc Endowment 0289J115 1.031.0(K> INCOMb. FUND Unrestricted Trund 6289J05 1.031.000 Appruv¢dby th¢Trus￿¢sOm............................... Sarah Jane Hnuldsw()rth TTUSt¢¢ TTU51e¢ THE J G HOGG CHARIT.4BLE TRI"ST NOTES TO THE FIN.4liCIAL ST.ATEIIE.NTS FOR THE I'E.4R ENDED S.4PIUL 2ts23 Al'.l.'Ol.h"J'I￿C. POLJC.JLS lal Ila5iy of Preparation The lin￿Lia1 s￿￿'ML￿[S have been pretmred on a EOillE concern basis, under the hiS￿rical cost coni'ention. 'I'h¢ lit￿)cial stat¢m¢nls hav¢ b¢¢n pr¢par¢d in acoirdatK¢ ￿'ith th Fitwjcial Re￿rting Siaidard5 applicable in Iht LIK and Republie of I￿lInd IfRS 1021. The Chants. is a public t¢nefii tntiTh' for Iht purEK)SL'S UI. FRS 102 iheTelure rhe Lharit! dlsu prL]wed IL5 findnLial s￿le[ne￿I￿ in uLL4)rdance iliih Ihe lal¢meiii of R¢cDmni¢nded Praciict applithle 10 ihariiies preparing Ui¢ir accibUnL% iii accordaiice m.ith IhL FinanLial repN)fting Siandard applicable in the UK aNI Republie of Irelatml (The FRS 102 ChariTies ()Rl)I ih¢ Lhariii¢% Act ?01 l. The linancial stskmenis are prepared in S*Tlit)g. which is Ihe funciiot)al eurretKy ofihe charity. The principal aL£ouniing ￿lItieS adopied in the preparation of the fithancial stsiements ate sei out ￿low. Ibl b'uthd Structure I'hL' I'.IfKTidiihli l..TidowmL'ni Fiind reprLSL'rtts ihosL' asstis Which atL' lor ihL longLr ierm ofihL Trtl￿. in iikiL)rdun¥¥ wilh lh¢ IL'rmy uf ihc I"rust Ixyd. Incom¢ arising on ihc l.'¥F&ndJblc l.'n(ID%4'mcnl l.und can ' LLiL'd in ihL Ilnri%ificiLd l.-unds. A.q an [.%￿ndab￿ r.ndowinLmi Fund ean in accordancc %4'iih IhL' Iibj¢¢l% ul. lh¥ 'l'ruyl. ¢iLpiMI ¢an als0 IK. in wrtain iirLumslOllLX% in fuifilminl i)r lh¢ 'l'rus1'S objLLl%. An), Lapiial gain4 4)r lo.*￿% ari%in8 on ihL' ini'L%IIIILnL4 Ik'ld in ￿7￿. l-'xr￿ndab1E l..nd0￿'MlliI l.uiid fc)rm pari ol'ihai Furtd. All inL()mL' 1% rL'Liigniii(J in t￿. SiaiL'meni of l-.inancial ALIiViiiL'S ISOI-.Al MhL'n IIIL Lxind¢ii(Ins f(Ir rL'LL'iPI hii&¥ nill 4uid lh¥￿ ]% r¥&4(inablc 4ssuranr¢ of r¥tsipi. Mlh¢rL a claim for ￿pa￿lI1¢y71 of inuiml I kK'n i)r will ￿, mu(k.. %ULh irKc)mL' is gft)sx￿d up lor I￿. i&x rewverabk.. IThL follciming ￿COW711nS tMIliLIL% ar¥-IppliL4d Iii dilli'rlnl ¢ilLSIV1¢5 vl'inLxHK". Ivr*nl% Don#li(bny Htfeii*ble (ir%inib 4ind l)i)n4lllf)nN arl rLLii¥n¢xd in IM. SOF'A M"hL'n coThJiiions for rl￿,1[￿ hovL iKxn iompliLd wiih. InTrcstmtni Intomt Iiil¥r¥%l ￿¥￿1%0￿1¥ i)n dl￿%11 #nd ￿(￿rIll¢S j5 ￿￿U￿ted for 15 il #crnJ¢s. Divid¢rkJ in￿< w￿]￿.￿bI¥ on s￿l￿rIti￿$ IS ULLouniid for ￿-hl Th fliLl1-L￿ b!. IhL iniLsimLni m4Lna8lY. Idl Tr'xpenditurt 1,1iibiliiii% 4ifL riii)gni%d as ￿￿UT¢L5 as ￿m)Th as IhL'r¥ is a kBal or con￿rucIlI.¢ obligation c()iiiniillIn￿ IhL' LharitN 10 th￿ndit￿[c. All cX￿ndit￿r¢ is accounied for on an acCrt￿ls b&sis and ha5 b¢¢ii classified under h¢adings Ihal gggr¢gaE¢ all fOSES ￿l91¢d 10 EtK catrgoTh'. Tr folloi4.iiig accouiiiiiig rM)IiiiLS ari appliLxI 10 IhL di17ireni ¢aicBOriLS ofCX￿ndlI￿re'. Tli¢ ¢p.518 01.8¢n¥ratin8 tlin￿5 CQllSi5t ol-inv¢stm¢nl mwwm¢ni ar¥i r¢rt¥in l¢gaJ t¢¢5. Ch*ritabl¢,Irtiiiti¢$ Llvrtdiiunb pa ible ￿ ￿l08n1￿ed ￿"he￿ Ilw are approied h" Ik and the rt¢ipieni of the grdni hils been inlDrmed Df the amount lo b¢ pai(L Go%ern*nce Cosis CJovLmiinLI Cosls iomprisc all ¢osis inbol%ing Ihc public acLX)unthbilii!' ofihe chaTiI)' and lis compliance lsiih regulation and E(xx4 PTaclice. lknese costs include costs telaLed lo slaluiory audit fees IoEeihET m.ith SUPW)rt LOSIS. Page 10 I HTr. J G CHARII"4BI.Tr.""TRI".ST NOTE% TO THE FIN.4NCIAL ST.4TE%IEITS FOR THE I L4R E)DED iAPRIL2011 .4CCOIIYTING POLICIE5{e{￿li￿￿¢d lel Tr-lxtl Assets InTr¢S[men￿art siaied ai maTkei Val￿￿¢ ihe B￿art¢< Skni Tk 50FA irtlu&s the Saitss and ]ts&%es th rev8lu8iilxl andd15W5a15 throu¥hout the)'fdr In Re*lised 8nd 11nrrnl￿ Cr*iThS and Los All bya1￿[ Jnd I￿5¢$ at¢ lJken th the Sl)FA &% thry ar]s¢ gau￿ Iosys ￿TrIes￿￿e￿I$ are ¢*ulJt¢J Js the dilTerence ￿￿ten Sales pioceeds aThJ opening marka (pw¢￿¢ datr If lawl unreali￿ gains and lo59￿ ate CAIculAied as IhedifftieTKYF*twrttt tht n￿k¢1 ialueai e￿1 8ndwits8 Ma[k￿*91￿(0rwrc￿￿Ila* Ill￿ell The irubiees have &wsed w￿*hey ihe we knf the wn8 M%iS IS c￿￿1&r￿j p)&4Neewents Lundilions that mi¥hi cas1 51¥nificant dou￿ on the thlil). of chanty a5 3 eoncetn Thc iTusiLY5 have niad¢ ¢hi% &%%e.i%ment for a at l¢* one )'rdr from tr< ¢Ja* of fIn￿la1 swernents After nuking Llliiuiries the ¢iustees haveionclwjed Ihat Iheit Isa ieasonaN¢e¥rttwion thai ihe charith. has *Jequate resouices ioconiinue In u￿r￿lI￿n￿l ¢KisttrnCc Ior ltiresetthle fuLur¢ Tht eh*ity knefoit COnliLw*S w *ltyi the sptsinb Ca￿¢[￿ L*sig In pr¢parinbi It$ filla￿￿ Wtel￿nts Ihl Fina Trciil InstrumeTr I'hL chariN el£c*d 10 ¥ply the pmvimons L)fseciion I I 'EILwc FJnaKwi I￿￿rUMeN5' ond Seclion l? .(hhei Finonci Insiiumenis l&$￿S. ol'l.'RS 10? 10 all of IL% finan¢ial 1hs1Nn￿￿s Instsuments are reth¥iili*d In ihe charii>'sbalAnce ¥h¢¢i wh¢n th¢ ih3iit> Trx¥'utn¢5 thv r￿￿.1￿0￿￿orth¢ In5tyyrn¢ni Fin￿￿181 JSS¢LtsJrnI 114bilitl¢5¥¢orryd. wilh Ihc nc¢ piraentcd In the firkVKilll ￿hen theJe Is J Icgalli ¢nfrttLYNc 5c¢ the rLYOgni*NI mounis and ihcrc Is an IniLntion t• F*¢ile on anet t￿lS￿ri0 reAiise theA4$ei￿d seuleik li8￿11￿ Simultaneo￿lY Wilh thL ex￿¢Pl1￿ns of PiiiyayThmL% and Lkferml InC￿e ail thher leknr and crc¢Jlloi trdanc¢5 ate bA51C linani1￿ In51rumtnL% unthr FK.% Set n￿¢s¥and 10 for thedetrtsr￿ crediior nthes C'w%h iw4h L4iuivalinL% Inrludv cwh in hand. held ai ￿11 with trdnks. liqu￿ IDvthrncnts wiih Ill prLPrifiThb lindniiJ1 4liilLlllLnL% 11 15 rtf¢55w w mak¢ ¢¢min JwJ8¢ryrtnty. ¢ximw¢s *J &sswnw4Th5 th¢ UM{iuni% rurini'L%I l.'thiLal (rl(Ibal 9.65 47.79 7.fyo ASSETS FRO￿1 THE ESTATE OF THE HOY IIRS S E N HOGG 'I'h¢ lJt¥ Mr% I Ii)¥¥'% Pr(l￿￿n). ()Id Ilr(itid ()ak. PiL%s¥yI t() lh¢ C'hariuhll 'l'rust ￿. i'inu¢ lif h¢r Will dtiiid 24ih I'L.bruaTh 2n17 and PLr IhL Ik*d ill- AprM)inimLni daicd ?4th ￿L'p￿'M1K'r 2021. A Ii)rnial l.anJ RLbii%lTS A%%Lni (() thL LharitahlL tru.%lLx.% i(}inPlL￿￿l ()n 22nd l)LLxmlK'r 21)23. 1"hL A&%nl 1% subjlxl and LhargLd iiiih ihl paymLni (Ir£ioo.(x)o to the cxc¢ulOts ofmts Ilogg. From 16 Januar¥ 2023 ihc p￿)￿rtI has tK'Ln tkn rLmi. 2023 2022 Valuc ol-()Id Broad Oak Cash ihargL a￿ain%( i)Id Flroad Oak" and due on future sale I100,ODOI C'ash- l Lg3¥y due to a Vdrrinary t￿(¢1¢¢ 10.( 2.660.000 Page 13 THE J G HOGG CHARIT.4BLE TRLST 40TF,S TO THF, FITrJANCIAL STATF.￿[E￿Ts ICONTIT4UED) FOR TIIE YE.4R EiYDED 5 APRIL 21123 .4SSETS FROM THE J G HOGC II'ILL TRLST On her dcaih, ￿IrS Ho88's inicrest in the irnst, iihiLh i1&$ 37.21?O/o remainder sharc of ihc IN'ill Tnjst, passed to the C'haritN ￿alUed ai 12.962.816. From her dale ofdeaih. Ihe irusiets of ihe Illjll ￿5( held Ihe Charitable Trust's share on bare trust. ()n 15ih OCto￿T 2021. the ITuslees of ihc Will Trust exercised iheir of adwuncemenl hringing the Will TnL8t li) th ¢nd. 2023 2022 Markei i'alue ol'inNestmenis appropriaied on 15 oc10￿r 2021 BalancL dui IL) Ihi ChJriiablL Trusi ai li (k'¢olKY ?O?I 3397.634 S7,764 3J88J99 9 DEBTORS 2023 2022 %uruh Jane Huul¢l%ivorth I Iniil IhL ILnan¢% ¢omminLLXt Ji 01(1 Rri)ad ()Jk. th¢rL' iierc signifilani running u)sts rL'lating lo lh¥ mark¥ling and i)ngc)ing upk¥K'p i)I' thL pri1￿￿nN and 8r(iund%. 'I'h¢ IfiJsi¢x'% maintJin¥yl an aixiiuni i)I' ¢(IsL%. milt h>. lh¥ rL'nial inLI)mL lind lund5 Ir()m thL' in%"L'simL'ni p)rtfolio. "IthL. baloncL' rL'pfL'SL'nLS ihL nL41 iun()unl ￿hIL￿ is duL fr()m uruh Jane I Ic)ul¢l%iYorth as at 5ih ArKil 2023. 10 C'REDITORS #mount5 fllllttg dut wlthln on¢ y¢*r 2023 2022 ML5%r5. Iloarc Trusicc5 1.979 3.900 1,7119 1.772 ('aiin(?IL ('JpiuI Inv¢sim¢nt ManaB¢m¢ni l.ees Charge on ()Id 13road l)aK" due lo ¢he I lon Mr5 5 L N 11(w'5 e51aie -I'hL l.'siatL ol-IhL I lon iMr5 S L N Ilogg (Jrants Pavable I[￿.00￿ 48.0(X> l.49J53 49.772 I I RELATED PARTIES -I'h¢ Charil}' doe5 Dol hai'¢ a Ttlatior15hip m.ith an)" other charity. or charitable organisations. Other than the tT¥irtsd¢tivns dnd balartc¢s (k)Lum¢nid in note 9 ther¢ are trJnwlion5 with ￿lated partic5 fwuiTing dis¢li?5U in ihese acLX)unts. Page 14 THE J f. Hor.c. rH.IRrrABLE TRI"ST TES TO THE FIN,I)CI.IL ST.ITE%IE)75 ICO_)TINI"ED FOR THE I'EAR EIDED 5.4PRtL 2023 12 AYALISIS OFCHARIT.QBLE FI.￿Ds Flalawe Re50ur¢e5 1e41 Transfers FuDd$ Re50UTce5 21122 CT¢ll¢'ral Incomv Fund FDdois7nent 89.930 134.548 (IM 54AI 6,2A9,3 I n31 1.031.( 1031.0¢ 1.031.0 IX17.VZ4 Narnt F￿Thd Unresirict*l tsenen ItK4)tne&YLSimg Extxndabl¢ Endo￿￿¢￿1 Ikrirjlo￿ gr￿ fNrdrpn bv fwwJ*the tyu5w'discrwwn. IJ ANAI.ISIS OTr. C¥ROI.'P NIT A&SETS WETM'LIN FI'NDS (kr*ral IKom¢ Fund Toial 2U21 Tangible fixed&￿elS C'ash ai ￿nk. And ln hand ()Ih¢r nii iurieni 0¥¢1￿{11•bII1I￿sj 3.547 539 3,497,u* 8,799 1473 6211Y.111 Slgnatur•: Emall: jhouldsworth303@btinternet.com Slinatur•: Emall: joannahogg@fastmail.lm P4p 15