2021-04-05-accounts - The Hanley Trust (1987)

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The Hanley Trust Annual Report & Financial Statements For the year ended 5th April 2021

The Hanl Trust Pag¢ I Annual Trusteu, Re rt for the Year Ellded th A ri12021 Legal aDd Administration DetaÉls The trustees are pleased to present their r¢port logether with the fin2na¢ial statements for the year ended 5th April 2021. The financial statements have been prepared in accordance with the accounting policies set out in the notes to th¢ a¢¢ounts and comply with th¢ chariWs governing document. The Clwities Act 2011 and Accounting and reporting by Charities.. Staiemenl of Recommended Practice appIlble to charities prep2Ting their accounts in a¢¢Ordan with the Financial Reporting Stanilard applicable in th¢ UK and Republic of Ireland published October 2019. The trustees aCtIg throughout the year, who were not renumerated, were: The Hon Mrs Sarah T M Price Mrs Emily R Martin Mr William L G Swan Mr Swan is, how¢ver, a partner in Currey & Co LLP, 33 Queen Anne StTe¢l, London WIG 9HY, solicilors to ihe trust who provided cretaria1, acUntancY and t&K services. The Hon Mrs sah PriGe aJ]d Mrs Martin received reimbursement of administration exp¢nseg incurred in the year. The investment portfolio managers are Canaccord Genuity Wealth ManagemenL 41 Lothbury, London EC2R 7AE. The ¢haTity's bankers are Natwest Bank plc, Halstead Branch. The independent examiner is Ailsa Farey CA, of Millbank Financial Servi¢¢s Ltd Fourth Floor, 10 Bruton Stre¢L London WIJ 6PX. Strnetur4 Governance and Mgnagement Th¢ charity was established by Trust Deed dated 27th Octol*r 1987 and is registered with the Ch2rity Commission No.. 299209. The charity's addTess is J3 Queen Anne Street, London WIG 9HY. The power of appoin1m¢nt of new trustees is vested in the current trustecs. The trustees actively review the perceived major risks which the Charity faces and the trustees aTe satlsfi¢d that the syst¢ms in place mitigate these rÉsks. The training needs of the trustees ate Tevi¢wed on an annua] basis. The trdining costs incurred in the currenl yvdr are £Nil (2019120.. £Nil). They have Teceived appropriate briefing on the7r responsibilities under the law relating to charities and theiT duty to ensur¢ that their charitable activities axe for the public benefit. Th¢ selection of tUre truste¢s will have regard to the skills. knowledEe artd experience needed for the effective administration of the charity.

The HaDI rusl Page 2 Annual Trus ' Re ort for tbe Year Ended 5th A ril 2021 Relatej Parti&$ No transactions twk place with related parties a]though expenses are charged for the service5 provided by Curr¢y & Co LLP as disclosed above. Risk Management The major risks io which the charity is theor¢ti¢ally cxposed are the incompetence of Tts investment managers and the fraud or negligence of the irustees or their bankers, agents or nominees. The trustees. having assessed th¢s¢ T15k5, are Satisfied that systems are in place to mitigate the charitys exposure thereto. Th¢ trustees have Satisfied themselves that the trusi is a going concern and has adequate r¢sour¢es to continue in operlOn81 existence for the foreseeable futur¢. The Charitable activities are funded by th¢ investment portfolio and although Covid-19 ha5 had a negalive impacl on this, the portfolio has sufficient Value to support continued grdnt making. Obje¢tives and Activities The objectives of the charity are to make graftts to 8u¢h charitable foundalions and for such charitable purposes as the trustees in their discretion from time to time think frt. The trStee$ seek to obtain a sustainable return from their investment p(>rtfolio and in particular an income increasing at least in line with inflation over the medium term. The charity is Teliant on Teceiving fteither additional funding from donors nor any paJticular level of income from its investrnents. The trustees nonrjally only mok¢ grants or ltsans to other registered charities. th¢y hav¢ never considered applications by individuals for personai assistance whatever the charitable putyose. The scope of th¢iT giving is determtned only by the extent of their resources; it is not otherwise restricted either geographi¢ally or by th¢ type of activity carried on by prospective beneficiaries or applicants. Public Benefit The trustees confirm that they have complied with the duty in section 17 of the ChaTities Act 2011 and have referred to the guidan¢e contained in the Ciwity Commission's general guidance on public benefit when reviewing the Gharity'5 aims and objectives and in planning fuDJre activities and setting the donation policy for the year. The benefit that arises is the provision of funding to organisations that demonstrate ehariithle purpos¢. Achievements and Perfortnartee The trustees consider that their principal objectives are being achi¢v¢d and are pled with the progress mad¢ in the financial year ended 5th April 2021 and lo(Trk fotward to expanding their work with many other charities in the years to come.

The H2nl Trnst Annual Trustees, Re ort for the Year Ended 5th A ri12021 Financial Review On 5th April 2021 th¢ investTnent portfolio wag worth £1,362,049 (2020.. £1,077,517) and in the year ending on 5th April 2021 the invtment incorne was £46.858 (2019120: £50,667). Expenditure on chariiable activities totall¢d £46,lJ 112019120.. £50,871). The ¢haTikbl¢ grants made in 2020121 varied in size from £1 00 to kn,000. The trustees are satisfied that the charity's assets are available and adequate to meet its obligations. Fixed knet Investments Investments are a forni of basic financial instrument and are initia]ly reCOlS¢d their transaction value and subsequently measured at their fair value as at the Balance Sheet date using the closing quoted market price. The Statement of FinanciaI Activities ineludeg th¢ net gains and losses arising on revaluation and dispc>galg throughout the year. The rnain forni of fmaft¢ial risk faced by the charity is that L)f volatility in equity markets and investment markets due to wider economic conditions, thc attitude of investors to investment ris and changes in sentiment concerning equiti¢s and within parti¢ular sectors OT sub sectors. Realised GaiDS and Losse5 All gains and loss¢s a reported in the Statement of Financial Activities as they arise. Reaiis¢d gains and loss¢s on investments calculated as the difference brfween sales prc¢eeds and their opening carrying value or their puTCh valu¢ if a¢quir¢d subsequent to the first day of the fin3ncl ye. Unrealised gains and losses are calculated as the diffcr¢nce between the fair value at the year end and their carrying valu¢. R¢alised a¥Ed unrealised investment gains and losses are combined in the St£lement of Financial Activities. EEnployees The charity cmploys no staff. Investment Policy Under the Trust Deed the trustees are empoweT¢d to invest in any mode of investtnent which the trustses could effect if they were absolthely and beneficially entitled. Th¢ investment policy is monitored by regular investment reports and annual m¢¢tings with the Investment Manag¢r. A br¢akdown of the investments held at the financi year ended 5th April 2021 can be seen on pages 12 and 13. Reserve5 Policy It is th¢ trustees, polfftcy to distribute approximately one year's investment in¢ome in the Course of each financial yeaT and to Tetain as a reserve only sufficient to be to respond expeditiously and when appropriate to urgent appeals At the Balance Sheet date the UnTestri¢ted reserves amounted to £1.393.957. Pl8n$ for the Future The trustees intend that the prill¢ipal objectives should be pursued in perpetuity.

The Hanle Trust Pag¢ 4 Annu#l Tru$te¢s' R¢ ort for tbe Year Ended 5th A ril 2021 St*temeDt of Trustees, RespoDsibiliti¢s The trustees are responsible for preparing the trusiees, report and the finan¢ial ststements in accordance with applicable law and regulations. The law applicable to chaTities in England and Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepled Accounting Pra¢ti¢e (United Kingdom A¢¢ounting Standards and applicable r¢gulations}. Under that law the trustees must not appove the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of th¢ charity for that perlod. In preping these financial statements, the trustees are required io.. sele¢t suitabl¢ a¢¢ouDting poli¢ies and then apply them consistently; observe the methods and principles in the Charities SORP (FRS 102). make judgements and estimates that are reasonable and prudent. state whether applicable accounting Standards have been followed, subj¢th to any material departures disc105ed and explained in ihe finan¢ial statements. and prepare the financial statements on the going concem basis unl¢ss it is inappropriate to Presume that th¢ charity will continue in business. The trustees are responsible for keeping adequate accounting records which suffici¢nt to show and explain the charity's transactions and dis¢los¢ with reL8onable accuracy at any time the financial position of the charity and enable them to ensure that the financial Statements ¢omply with ihe Charities A 2011, the Charitie5 (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are 21$0 responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the Prevention and detection of fraud and other irregularities. W L G Swan on behalf of the Trustees 2022

Page 5 The Hanley Trust Statement of Financial Activities For the Year ended 5th April 2021 Unrestricted Funds Notes 2021 2020 Income from: Investments Total 46,858 46,858 50,667 50,667 Expenditure on: Charitable activities Raising funds Total (46,131) (14,022) (60,153) (50,871) (13,731) (64,602) Net incomel(expenditure) (13,296) (13,935) Gains/(losses) on investments Net movement in funds 14 313,044 299,748 (238,088) (252,023) Reconciliation of funds: Fund balances brought fonvard 1,094,209 1,346,232 Fund balances carried foThard £1,393,957 £1,094,209

Page 6 The Hanley Trust Balance Sheet as at 5th April 2021 Unrestricted Funds Unrestricted Funds Notes 2021 2020 Fixed Assets Investments at current value io ,362,049 1,077,517 Current Assets Cash at bank and on deposit Debtors 12 77,527 67,169 77,532 67,174 Creditors: Amounts due within one year Accruals 13 (45,624) {45,624) (50,482) (50,482) Net cuent assets Total Net Assets 31.908 £1,393,957 16,692 £1,094,209 The Funds of the Charity Unrestricted fimds Total Charity Funds 1,393,957 £1,393,957 1,094,209 £1,094,209 Approved by the trustees on and signed on their behalf by (Trustee) ..2022

Page 7 The Hanley Trust otes to the Financial Statements for the Year Ended 5th April 2021 l Accounting Policies a) Basis of Financial Statements Preparation The financial statements of ihe charity, which is a public benefit entity, have been prepared in accordance 7th the Charities SORP (FRS 102) 'Accounting and Reporting by Charities". Ststement of R¢comm¢nded Practice applicable to charities preparing their accounts in accordance with the Financial Reporting StandaTd applicable in the UK and Republic of ITeland (FRS 102) (effective l January 2015),, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Charities Act 2011. The financial ststements have been prepared under the historical cost convention. The financial statements have been prepared to give a'true and f&iT' view and have departed from the ChltieS (Accounts and Reports) Regulations 2008 only to the extent required to give a 'true and faxr, view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial R¢porting Standard applicable in the UK and Republic of Ireland {FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities.. Stst¢m¢nt of R¢¢onun¢nded Practice effective from I st April 2005 which has since been removed. b) Nathre of Funds All funds held are unrestricted and th¢ trustees are free to use them in accordance Mqth the charitable objects. e) Fiied Asset Investments Investments are stated at market value at the Balance Sheet date. Overseas investments are traThsl2ted into sterling at the rates ruling at the year end. The Statement of Financial Activities (SOFA) includes the net gains and losses on revaluation and disp)sals throughout the year. d) Inve$tmenÉ Ineome Inveslment Income is accounted for when receivable and is stated gross of any reclaimable taxation relief. ¢) Raising Funds Expenditure ks accounted for on an accnLqI basis and has been classified undeT headings that aggregate all costs related to that category and are shown in the notes to the financial 5tat¢ments. D Charitable Grants Grants payable are recognised in the SOFA when they aTe appToved by the trustees and the recipient has been infornied of the amount to b¢ paid.

Page 8 The Hanley Trust Notes to the Financial Statements for the Year Ended 5th April 2021 g) Foreign Currencies Transactions denominated in a foreign cuNency are translated into sterlÈrAg at the rate of exchang¢ ruling at the date of the transaction. At the Balance Sheet date monetary assets and liabilities denominated kn a foreign currency are translated at the rdte Tuling at that date. All exchange differences are dealt 1th in the SOFA. Remuneration of Trustees In the financial year to 5th April 2021 the trustees did not receive any renumeration (2019120: £Nil) but did receive reimbursement for expenses incurred in the year. 2021 2020 3 Investment Income UK Interest on Stocks - quoted UK Dividends - quoted Unit Tntst Dividends Overseas dividends Property income distribution Bank Int¢r¢st 4,059 28,383 33,945 2.140 11,203 125 14,416 £46,858 £50,667

Page 9 The Hanley Trust Notes to the Financial Statements for the Year Ended 5th April 2021 Direct costs (see note 5) 4 Chgrit*ble Activities Support costs {see nole 6) Tot21 Charitable expenditure £37,700 8,431 46,131 5 Direct Costs The Charity undertook no direct charitable activities but awarded grants to a number of institutions in furtheran¢e of its charitable objectives. These are as follows: 2021 2020 Grants made to institstions 1st Uppingham Scout Group 1st Uppingham Brownies Age UK AEzheimeVs Research UK A17.heim¢r's Socicty Amnesty international Anglo Scottish Seaf(K)d Trdining Bethany Christian Trnst Break Butler Trnst Cancer Research UK Canine Partners Castelnau Centre Project Catch 22 Christian Aid Cirdan Sailing Trust Community Emergency Food Bank Corby Mind Corby Voluntary & Community Services Cruse Bereavement Care Depaul UK Dove Cottage Day Project East London Metropolitan Opera Endeavour Training ENRYCH Farn] Community Network Balance clf 250 250 250 500 250 250 1,000 500 500 500 2,500 500 1,000 250 500 250 500 100 500 250 500 250 250 1,000 500 500 500 2,500 500 ,000 250 500 loo 750 500 500 1.000 250 500 250 500 500 500 500 13.100 750 500 12.850

Page 10 The Hanley Trust Notes to the Financial Statements for the Year Ended 5th ApTiI 2021 2021 2020 5 Grants made to 111stitstions coot. Balance blf FÈshemien's Mission Furniture Project NOtting1MShirc Gingerbread GuS & St. Thomas, Charity Hands Up Foundation H¢l¢n Arkell Dyslexia Centre Hospice UK Howard L¢4ipu¢ for Penal Refonn Irene Taylor Trust Koestler Trust Kurdish Aid Foundation L'Arche Belfast Ladywood Furniture Project Lakelands Day Care Hospice Langley House Trust Leic & Rutland Community Foundation Leicestershire & Rutland Headway Leicestershire & Rutland Victim Support Living Hope Belfast Livina On Bereavement S¢rYÉce LOROS Macmillan Cancer Support {L¢ics & Rutland) MaidOne Riverside Trust Fund Marie Curie Caneer Care (Fosse Health Trust) Medeeing Sans Frontieres Medical Aid for Palestinians Mental 14ealth Foundation MtND Music in LYddinOn Mustard Tret New Futures Project Open Minds PACT Prader Willi Syndrom¢ Prison Phoenix Trust Project Trust Samaritans St. Vincenl's Furnire Store Tangled Feet Tim Parry & Jonathan Ball Foundation for Peace Motor Proj¢¢t 12,850 500 250 500 13,100 500 250 500 250 1,000 500 500 1.000 2,500 500 500 500 500 250 500 500 100 250 500 1,000 500 500 1,000 3,000 500 500 500 250 500 500 100 soo 500 250 250 500 250 1,000 1,000 500 500 250 250 500 250 1,000 500 500 500 100 500 500 500 500 500 500 250 500 500 1,000 500 500 500 500 1,000 500 500 250 500 500 3,000 500 500 36,450

Pagell The Hanley Trust Notes to the Financial Statement$ for the Year Ended 5th Aprll 2021 2021 2020 S Grants made to institutions conL Balance blf Village Water Voluntary Action RUt]d Waming Zone (Leits & Rutland Crim¢b¢at) Wooden Spoon Young Minds Donations written off (previous y¢arl 36,450 500 500 500 500 1,000 11,750) £37.700 34,300 500 500 500 250 1,000 £i7.050 Anatysis of grants made Gr#Trt5 to Grants to ittstitsÉions individua15 Total Prevention or relief of poverty Advancement of= education religion hea]th or the saving of lives citizenship or community development the arti cuknire, heritage or sci¢n¢e alnateur sport human rights the relief of those in need Any other charitable purposes 2,000 2,000 2,250 750 2,600 2250 6.500 1,000 1.500 20.600 2,250 750 2,600 2,250 6,500 1,000 ,500 20.600 £39,450 £0 £39,450 2021 2020 6 Support Costs GoY¢rn#n¢¢ ¢ost5 AdmiTli$tr4tiv¢ ¢xp¢ns¢s Bank Charges Independent examination fee 5,760 1,851 I05 715 £8,431 5,760 105 £5,865 7 Exp¢DditUT¢ on Raisin¥ Funds 2021 2020 Investment management fees £14,022 £13,73 1 8 Staff Costs There are no employees so consequently no stsff costs have been incurred. 2021 2020 9 Debtors Capital outstanding £5 £5

Page 12 The Hanley Trust Notes to tlxe Financial Statements for the Year Ended 5th April 2021 10 Invtstments held at Sth April 2021 Nomingl Shareholding 5.4.2021 Mark¢t Value 3.850 31 Group plc 73.8636p Ord 11,546 3i Infr&structure Ord NPV 1,900 BHP Group plc USSO.50 900 CRH plc Euro 0.032 Ord I,ioo Diageo plc 28 1011108p Ord 30,000 Digital 9 Infr&8tructure Ord NPV 34,000 E¢ofin US Renewable Ord US$O.01 35,000 Ecofin Global Utilities & lofra TR plc I p Ord 9,400 Fidelity China Sp¢¢ial Situations Ip Ord JOO Findlay Park plc FP American Smaller Co's Trust 2,000 GlaxoSmithKline plc 25p Ord 3,250 Goldman Sachs AMFS Global Emerging Markets Debt Dist 30,000 GCP Asset Backed Income Fund Ltd Ord NPV 22,500 International Public Partnership Lid 0.0001 p Ord 900 Johnson Matthey plc £1.109245 Ord 30.200 JPMorgaD Global Emerging Ip Ord 12,500 JPMortsan US Equity Income Fund C Inc 7,500 Law Debentuies plc 5p Ord 7,500 Manchester & London 25p OTd 14,000 Marlborough Fund Manag¢rs Multicap Incolne P Inc Nav 40.000 Middlefi¢ld Canadian Inc PCC Red Part Pref ShaTe5 £ NPV 5,000 National Grid Co plc 12.431289p Ord 65,000 NB Global Ploating Rate In¢ Fund Ltd Red Ord NPV £ 4,871 Polar Capital Funds plc Globa] Conv l £ Dis 35,000 Polar Capital tilobai 5p Ord 4,000 Princess Private E Ord Euro 0.001 3,675 Ricardo Group plc 25p Ord 900 Rio Tinto plc l Op Ord (Regd) 1,300 Royal Dthch Shell'B' Shares Euro 0.07 17,000 Schroder Oriental Income Fund Ltd Ip Ord 21,366 Schroders US Smaller Co's Z Income 2,000 Smith & Nephew plc 12.22p Ord 16.000 Treasury 4 118Tr/ Index Linked Stock 2030 650 Unilever plc 0.0311 I p Ord 1,700 Worldwide Healthcare plc 25p Ord 45,179.75 34.233.89 39,292.00 30.105.00 33,077.00 30,225.00 25,075.00 6J.175.00 40,420.00 )5,835.40 25.552.00 32,305.00 27,900.00 ?7,845.00 27.126.00 43.790.00 46.687.5 54.225.00 42,075.00 20,927.20 40.400.00 43,175.00 5i,4iO.00 50,020.91 54,862.50 42.205.58 15,949.50 49,320.00 17.360.20 47,430.00 36,515.17 27.190.00 59,671.36 26,143.00 63.325.00 £1,362,048.96

Page 13 The Hanley Trust Notes to the FIDan£ial Ststements for the Year EDded 5th April 2021 11 Fixed Asset Investments 2021 2020 Markd value brought fonvard Additions L¢ss disposal proceeds Net gainsl(Iosses) OD investments Market value carried forward 1,077.517 142,032 (170.544} 313,044 £1,362.049 2021 I,J14.313 126,710 (125,418) (238,088) £I,077,5 17 2020 Geographical analysis United Kingdom invesknents Overseas investments 1202,591.00 159,458 £l,J62,049 94J.335 li4.182 £1.077,517 The bch)k value of the inVements at 5th April 2021 is £975,023. Net gaIn(loS5es) on investtnents includes realised gains for the year of £16,272 [2020.. gain £4.751] and unreali5ed gains/(Ios5es) on revaluation to tnarket value of £296.771 [2020.. loss £242,839]. 12 Cash at Bank 2021 2020 Natwest Bank plc Manorbridge Investment Management 16,033 61,494 £77,527 56,513 10.657 £67,170 2021 2020 13 Creditors: Amounts due witbin one year Administrative expenses- T$t£¢ Currey & Co LLP Independent examfftrtation fee Donations approved but not paid 1,851 3.108 715 39.950 £45,624 5,679 7,038 715 37,050 £50,482

Pag¢ 14 Tbe Hanley Trust Notes to the nanCIal Statements for the Year Ended 5th Aprll 2021 14 Movement in Funds 2021 2020 Unrestricted Funds.. Balance brought forward Net movement in fund5 Balance carried forward 1,094,209 299,748 £1,39).957 1,346,232 (252,02J) £1,094209 Net movement in funds included in the above are as follows-. Gains and Movement in losses funds Income Outgoings Unrestricted fimds 46,858 (60,153) 313.043 299,748

Page 16 The Hanley Trust Accounts for the Year Ended 5th April 2021 2021 2020 Capital Account Balance at 6th ApriE 2020 Add.. Profitl(Loss) on Sale of Investtnents 1,286,135.39 16,272.24 1,302,407.63 296,771.34 £1,599,178.97 1,524,223.10 4,751.66 1,528,974.76 -242,839.37 £1,286,135.39 Add: Unrealised Gain/(Loss) on Investments Balance at 5th April 2021 Income Account Income from Investments (gross) Interest supplement Interest (gross) 46,857.51 0.00 0.00 46,857.51 50,664.56 0.00 2.52 50,667.08 Expenditure Independent examination fee Bank charges Investment management fees Accountancy fees Administrative expenses -715.20 -106.00 -14,022.21 -5,760.00 -1,850.99 24,403.11 -998.70 -105.00 -13,730.72 -7,038.00 -5,679.70 23,E 14.96 Grants made in year -37,700.00 -13,296.89 -191,924.98 -205,221.87 -37,050.00 -13,935.04 -177,989.94 -191,924.98 Balance at 6th April 2020 Balance at 5th April 2021 Total unrestricted fund at 5th April 2021 £1,393.957.10 £1,094,210.41

The Hanley Trust Annual Report & Financial Statements For the year ended 5th April 2021

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE HANLEY TRUST FOR THE YEAR ENDED 5 APRIL 2021

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2021 which are set out on pages 5 to 17.

Responsibilities and basis of report

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the 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

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:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the applicable 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.

Ailsa Farey CA CTA 4[th] Floor 10 Bruton Street London W1J 6PX

DATED this 3[rd] day of February 2022.