The Hanley Trust Annual Report & Financial Statements For the year ended 5th April 2024
Tbe HaDI¢ Trust Page I An#1 Trustse$' Re rtforthe Yea E thA Til 2024 Legol aDd AdmiDistratiOn DetaiL8 The trustees are pleased to present their report together ryth the fingmacial statements foT the year ended 5th April 2024. The fjftancsal gtatements have been Prepared tn accordan¢e with the accowiting polÉcies set out in the notes to the accounts and comply with the charity's governing document. The Charities Act 2011 and Accounting and reporting by Charities: Statement of Recommended Prathice applicable to charities prepIng their accounts in accordan¢e with the Financial Reportin( Standard applicable in the UK aTJd Republic of Ireland published October 2019. The tr$(eeS acting throughoutthe ye8J, who were not trenumerated. were.. The Hon Mrs Sarah T M Price Mrs Emily R Martin Mr William LG Swan Mr 8wAn is, howeveT. a parther in Currey & Co LLP, 33 QLn ADJJe Street. London WIG 9FtY, solicitors to the trust who provided sccrctarial, accounlancy and services. The Hon Mrs Sarah Price and Mrs Martin received reimbursement of administratton expenses ill¢uTred in the yeaT. The investtnent portfolTO managers are Canaccord Genutty Wealth ManagemenL 41 Lothbury. LondoTh EC2R 7AE. The charity's bankers are Natwest Bank plc, Halstead Branch. The independent examiner is Ailsa Farey CA cfA, of Millbank Financia] Services Ltd. Fourth Floor, 7 Swallow Street, LolldoJ4 WIB 4DE StrUCT GoverDaJEce and MaDagemtBt The chartty w&$ established by Trust Deed datsd 22nd O¢tober 1987 and is regist¢r¢d the Chlty Commission No: 299209. The char5Ws address is 33 Queen Anne Stree¢ IK)ndon WIG 9HY. The power of appointFnent of new tnte¢S 1$ vested in the cutTent trustees. The trustees actively review the percelved major risk% which the Charity f¢5 alld the tnleeS aJe satisfied th&t the systems in place mitigzte these risks. The training needs of the trustees e reviewed on an annual basis. Thc training eosts incurred in the cTellt year are £Nil (202212).. £NÉl)- They have reeeived appropriate briefing on their r¢sponsibilities under the law r¢lating to charitics 8])d their duty to ensure that th¢ir Gharitable activities are for the public benefit. The selecti¢)n of future trustett wÉll have regard to the skills, knowledge and experience needed forthe effective administrntioll of the charity.
Tbe Hanle Trust Page 2 Trnslees, Re ort for the Year Ended 5th A ril 2024 Related Parties No tyansactions took place with related parties althogh expenseg are charged for the services provided by Cwrey & Co LLP as disclosed above. Risk Management The major risks to whi¢h the charity 15 theoticallY exposed are flutiOnS in the value of its investmenL (whether caused by wider m3xket factors, OE under-perfoTman¢e of the charity's investment managers): the fraud or negligence of the trustees or third p8rties (including their investment rnanagers or baAk¢rs) anc cyber-crime. The Trust¢tt , having assessed these risk4 are satisfitd that systems and policitt (including polÉ¢ies on inves1ment management and financial controls} Ore in place to manage tILose risks. The trugtees have satisfied themselves that the trust is a going ¢oncern and has adequate resources io continue in operational existence tbe foreseeable future. The ¢haritable activities are funded by the investnent portfolio and the portfolio h&s sufficient valut to support contittu¢d grattt making. Objettlves and Activities The objextives of the charity are to make grants to such charitsble fovnd&tions and for su¢h ¢h8ritable puryoses L% the tnleeS in their discretion froln tim¢ to lime tbink fiL The trustees seek to obtsitt 2 sustainable return from their investtnent portfolio and in particular an iTicome increasing at Iwt in line with infiation over the medium tern). The charity is reliant on receiving n¢ither additional funding from donors nor any particular level of income from its invesEm¢nts. The ttteS normally only make grants or loans to other registered Charities. they have never ¢onsidered applications by individuals for personal assistan¢¢ whatrver the ¢haritable purpose. The scope of their giving is determined only bythe extent of their resources; it is not Othen$t restricted either geographically or by the t)Te of activity carried on by prospectivc beneficiaries or applicants. Public Ben¢f The trth8tees confirm that they have Complied with the duty in section 17 of the Charities Act 2011 and have referred to the guidance contained in the Charity Commission'$ gentral guidance on public benefit when reviewing the eh2rity's aims objectives and in plannino future activities 8md S¢ttiDg the donation policy for the ye. The benefit that arises is the provision of fundillg to organisations that demonstrate chaJitable purpose. Acbievem¢llts and Performallee The trustees consider that their principal objectives ar¢ being achiev¢d and are pleased with the progress made in the financial year ended 5th April 2024 and look forward to ¢xpanding their work ryth many oihey ChItIeS in the years to come.
Hale Trust AnDu41 Trustsesl Re rt for the Year Ended 5th A ril 2024 Flln*ncial Review On 5th April 2024 the invesbnent portfolio worth £128?,489 (?023: £1275,394) and ift th¢ year ending on 5th April 2024 the tnvesttn¢nt income was £56,415 (2022123: £65,716}. Expenditure on Oktable activities totalled £51.103 (202212i: £58,6?3). The charitable gAnts made ITh 2023124 varied in size from £100 to £3,0(MJ. The trustees are satisfied that the ch2tity's assets are available and adequale to meet its obligatio. Fixed Asset Investmettts Investsnentg are a forn] of basic f]nancial instrurnent and are initially Te£ognised attheir transa¢tion value and subs¢quendy measured at their fair vaIue as at the Balance Sheet date using the closing quoted market price. The Statement of Financial A¢tivities includes the net gains and lo&s¢s arisiDg on reva]uation and disposals throughoutth¢ year. The main forni of financial risk faced by th¢ charity is that of volatility in equity markets and investment markets due to wider economÈc conditions, the attitude of investors to investment ris and changes ITh sentimcnt concerning equities and within particular sectors or sub secto. Rtaiised Gains and Losses All gains and losses aJe r¢ported in the Statement of Financial Activities a% they LSe. Realised 7n$ and oSseS on investments are calculated as the difference between saies wooe¢ds and their opening caTrying value or their purchage value if acquired subsequent tt> the fir51 day of the financial year. Unrealised gains and losses are culated as the difference between the fair value at the year end their carrying value. Realised and unrealised investment gains amd losses ar¢ wmbined in the Statement of Financial Aetivities. EP10yeeS The charity employs ILO Staff. Investtnent Policy Under the Trust Deed the trustee5 are empowered to invest in any mode of inYe$1ment which the trustees could effect if they were absolutely and beneficially erAtitled. The investment poli¢y is monitored by regular investsnent reports and annual meetintrs with the l]Trvestment Manager. A breakdown of the investrrtcnts held at the financial year ended 5th April 2024 can be seen on page 12. Reserves Policy It is the trusl¢¢8' policy to diStribe approximately one yeals investment income in ibe course of each financi year and to retain as a reserve only sufficient to be able to respond expeditiously and when appropriat¢ to urgent appeals At th¢ BAlance Sheet date the unrestrided r¢s¢rves amounted to £1,334,589. These are invested in ord¢r to genernte incone and capital gain& providinrl further fid$ to support the ¢harity's PuTPOS. PIgDS for tbe Future The trustees intend that the principal obje¢tives should be pursued in perpetuity.
Page 4 ATrnual Trnstees. Re ort for tbe Year Ended 51b A ril 2024 Ststement of Trustees. Responsibilities The trustees are responsible for preparing the Itustees, r¢port and th¢ finan¢ial statements in aeeordance wiih applicable law and regulations. The law applicable to charities in England and Wales requires the trnstees to prepare fi[¢181 statements for each finaftciaj year in accordance with United Kingdom Generally Accepted Accounting Practice (Untted Kingdom Accounting Standards and appli¢abl¢ regatIonS>. Under that law the tiugtees must not appove the financia] slatements unless they are satisfied that ihey (Five a tru¢ and fair view of the statc of affair5 of the charity arld ofthe incoming resources and application of resources of the charity for tlw period. In preparing these finan¢Éal stateTnents, the trustees are required to: select suitable accounting polieÉes and then apply them consistently. observe the methods and principles in the Chariti¢s SOIIP (FRS 102)" make judgements and estimates that are re&%onable and prudent,. state whether applirAble ac¢ounting standards have been followed. subject to any material departures disclosed and explained iu the financial slaÉ¢ments' and prepare the financial statements on the going concern basis unless it is inappropri&ts to presume that the charity will continue in business. The trustees are respgnsibl¢ for k¢¢ping adequate awounting records which are sufticient to show and explain the charitys trntionS and disclose with reasonable accuracy at any time the f8cial position of the charity and ¢nable them to ensure that the fmancial statements comply with th¢ Ch8rities Act 2011, the Charities {Accounts and Rcports} liegultitions 2008 and the provisions of the Trust Deed. They are also responsible for saf¢guardirAg the ossets of the chality and hence for taking reasonable steps for the preyention and dettiott of frdud and other Érregularities. W L G Swan on behalf of the TrStee$ - 2025
Page 5 The Hanley Trnst Statement of Financial Activities For the Year ended 5th April 2024 Unrestricted Funds Notes 2024 2023 Income from: Investments Total 56,415 56,415 65,716 65,716 Expenditure on: Charitable activities Raising funds Total (51,103) (14,180 65,283 (58,623) (14,811) 73,434) Net incomel(expendithre) (8,867) (7,718) Gains/(los$es) on investments Net movement in funds 14 5,565 (3,302) (127.182) (134,900) RecoDciliation of funds: Fund balances brought forward 1,337,891 1,472,791 Fund balances carried forward £1,334,589 £1,337,891
Page 6 Tbe Hanley Trusl Balance Sheet as at 5th April 2024 Unrestricted Funds Unrestricted Funds Notes 2024 2023 Fixed A3sets Investments at Current value io 1,282,489 1,275,394 CurTellt Assets Cash at bank and on deposit Debtors 12 134,937 112,473 134,942 112.478 Creditors: Amounts due within one year 13 (82,842) (82,842) 49,981) {49,981) Net current assets Total Net Assets 52,100 £1,334,589 62,497 £1.337,891 The Funds of the Charity Unrestricted funds Total Charity Funds 1,334,589 £1,334,589 1,337,891 £1,337,891 Approved by the trustees on and signed on their behalf by (Trustee) 21 ..2025
Page 7 The Hanley Trust Notes to the Financial Statements for the Year Ended 5th April 2024 Accollnting Policies a) Basis of Financial Statements Preparation The financial statements of th¢ charity, which is a pubEic benefit entity. hav¢ been prepared in accordance th th¢ Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Stat¢m¢nt of Recommended Practice applicable to charities preparino their accounts in accordance with the financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015),. the F inancial Reporting Standard applicable in the United Kingdom and Republic of freland and the chltieS Act 2011. The fllwiciaI statetugnts have been prepar¢d under the historical cost convention. The financial statements have been prepared to giv¢ a 'true and fail view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to give a 'true and faig view. This departL2re has involved following Accounting alld ReportAng by Charities prepaTing their accounts in accordance with the Financial Reporting StandaTd applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Cl]aTiti¢s: Statement of Recommended PTactiLe effective from 1st April 2005 which has since been Temoved. b) Nature of Funds All fidS held are uDrestricted and the ttustees are free to use them in accordance with the charitable objects. ¢) Fixed Asset Investments Investments are stated at market value at the Balauce Sh¢et date. Overseas investm¢nts ar¢ translated 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 disposals throughout the year. d) IDvestmeut IncoDJ¢ investment Ancome is aceount¢d for wh¢n r¢¢¢ivable and is slated gross of any Teclaimable taxation relief. e) Raising Funds Expcnditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to that cat¢gory and are shown in the notes to the financial 5tatemellts. fj Charitabl¢ Grants Grants payable are recognised in the SOFA when they are approved by the trustees and the recipient has been iDfonned of the amount to be paid.
Page 8 The Hanley Trust Notes to th¢ Financial Statements for the Year Ended 5th April 2024 g) Foreign Currell¢ies Transactions denominated in a foreign currency are translated into sterling at the rate of exchange nlling at the date of the transaction. At the Balance Sheet date monetary assets and liabilities denomiJHted in a foreign Currency ar¢ transLat¢d at th¢ rate rnling at that date. All exchange differences are dealt with in the SOFA. 2 Remuneration of Trustees tn the fanCIal year to 5th April 2024 the trustees did not receive any renumeration (2022123: £Nil) but did receive reimbursement for expenses incurred in the year. 2024 2023 Investment Ineome UK InteTest on Stocks - quoted UK Dividends - quoted Unit Trust Dividends Overs¢as dividends & Interest Bank Interest 5,914 28,117 1,552 19,628 1,204 £56.415 3,294 30,758 1,854 29,717 93 £65,716
Page 9 The Hattley Trust Notes to the FinaDcial Statements for the Year Ended 5th April 2024 DIrt costs (see note S) 4 Charitable Activities Support Costs (see Dote 6) Total Charitabl¢ ¢xpenditure £44.450 6,653 51.103 5 Direct Costs The Charity undertook no direct charitable activities but awarded grants to a number of institutlons in furtherance of its charitable objectives. These are as follows.. 2024 2023 GrnDts made to institutions 1st Uppingham Scoui Group I st Uppingham Brownies 1st Uppingham Guides 1st Uppingham Rainbows Age UK Alzheimer's Research UK Alzheimer's S(Kiety Amnesty International Anglo Scottish Seafood Training Bethany Christian Trust Break Butler TTUSt Cancer Research UK Christian Aid Cirdan Sailinu Trust Community Emergency FO( Bank 250 250 250 250 500 250 250 1,000 500 500 500 2.500 500 250 500 loo 250 250 250 250 500 250 250 1,000 500 500 500 2,500 500 250 500 loo Ell Cruse Bereavement Care QY donation written off 2022123) Depaul UK Dov¢ Cottage Day Project Fam Community Network Fishermen's Mission Furniture ProjectNottinghamshir¢ Gingerbread Hands Up Foundation Helen Arkell Dyslexia Centre Highfjround Homestart UK (Leicester) Home Start Horizons Hospice UK Howard League for Penal R¢forni Irene Taylor Trust Jonathan's Voice (wrtte off 2022123 donation) Balance df 500 1.000 250 500 500 250 1,000 1.000 500 1,000 500 500 soo 1,000 3,000 (500) 19.850 (500) 1,000 250 500 500 250 1,000 1.000 500 500 500 500 1.000 3,000 500 18,850
Page 10 The Hanley Trust to the Financial Stst¢ments for the Year End 5th April 21124 2024 2023 5 Grants made to ill$tituti&ns CODL Balance blf Kurdish Aid Foundation L'Arche Belf Lakelands Day Care Hospice Langley House Trust Leic & Rutland Community Foundation Leicestershir¢ & Rutland Headway Living Hope Charity Belfast LOROS Macjnillan Cancer Support (L¢i¢s & Rutland) Mari¢ Curie Cajicer Care (Fogse Health Trust) Medecins Sans Frontieres Medical Aid for Palebiitjiams Mentsl Health Foundation Mentsl Health FoUndlrt (PY donation written off) MtND INorthamptonshire) MtND Oakfield Community Open Minds PAC[ 19,850 500 500 250 500 500 100 500 250 250 250 1,000 1,000 500 {500) 1,000 1,000 1.000 500 1.000 18.850 500 500 250 500 500 loo 500 250 250 250 ,500 1.000 500 (500) 2,750 500 1.500 rll People AJts init Pl&stic Pollution Prader Willi Syndrome Prason Pho¢nix TTht Pristsners Abroad Project Twst Rutland RotaTa¢t Family Support C¢ntr¢ Samaritans St. Vincet]t de Paul Society St. Vincent's Fumiture Store Tangled Feet The Bike Experience The BTidge (East Midlands) The Loss Proje Tim Parry & Jonathan B] Foundation for Peace Trax Motor Project UK ftir UMICR Village Water Voluntsry Action Rut12nd Waming Z(pne (Letcs & Rutland CTirnEb¢at) Wooden Spoon Young Minds 500 500 500 1.000 500 500 500 1.000 500 1,000 500 500 500 500 500 3,000 3.000 500 500 500 500 5(KJ i.0> 5(N) l.O(M) 1,000 500 1.000 £44.450 1,000 1,000 500 500 2.000 500 1,500 1,000 500 1.000 £47.200
Pagell Tb¢ Hanley Trust Note$ to the FSnanei#l Stateellts for th¢ Year Ended 5th April 2024 Anglysis of grants made Grants to Gronts to institutlons lttdivÉduaLs Total Prevention or relief of pov•ty Advancement of: education reljDion health or the saving of lives citizenship or community development the arts. culture, hcritage or scienc¢ arnateur sport human rights the relief of those in need Any other charitable purposes 2,000 2.000 1.500 750 6,100 3,500 6,000 1,000 1.500 20,600 1500 £44,450 1,500 750 6,100 3.500 6,000 1.000 1,500 20,600 1.500 £44.450 £0 2024 2023 6 Sopport Costs Govemanee costs Administraiive expenses Bk charges Independent exajnination fee 3.120 2,891 70 572 £6.653 10.224 647 140 412 £11,423 7 Expenditur¢ on Raising Funds 2024 2023 Investrnent m8nagement fees £14.180 £14,811 8 Staff Costs There ate employees 50 conswue¥Atly no stsff costs have been incurred. 2024 2023 9 Debtors CapÉtal OUtstLding £5 £5
Page 12 The Hallley Trust Note5 to the financial Ststements for the Year Ended Sth April 2024 10 Investents held at 5th April 2024 Nominal Shareholding 5.4.2024 Market V21ue .900 3i Group plc 73.8636p Ord 11.546 31 Intstructure Ord NPV 4.975 Aberforth Smallw Co's TTUSt Ip Ord 1,900 BHP Group plc USSO.50 27,000 British Telecorn plc 5_75/ty Senior 71l2ll8 £1.000 40.000 Cordiant Digital l tsrd NPV 700 CRH pl¢ Euro 0.032 Ord 1,100 Diageo plc 28 1011108p Ord 34,000 Eeofin US Renewable Ord USSO.01 28.000 EcofEn Global Utiliiies & Infra TR plc Ip Ord 9,400 Fidelity China Spe¢ial Situations Ip Ord 225 Findlay Park plc FP AmeTican Smaller Co's Trust 350 First Eagle Funds US Smaller Capital Opportunity R2 1.600 GSK plc 3.125p Ord 50,000 Harmony Encrgy plc Ip Ord 23.500 HtCL tnfrastructure pl¢ O.OOlp Ord 40.000 HSBC Floldings plc 5.751J/o Sub 20112127 £1,000 24.375 International Public Parnership Ltd O.(IOOlp Ord 25,873 JPMorgan US Equity Income Fund C Inc 7.500 Law Debentures plc 5p Ord 45,(kOO Lloyds Banking Group 9.25 /¢ Non4um Irred Pref 7,500 Man¢hest¢r & London 25p Ord 40,000 Middlefield Canadian Inc PCC Red Part Pref Sh2r¢$ £ NPV 2,600 National Grid Co pl¢ 12.43 1289p Ord 3,821 NB Global Floating Rate Inc I,und Ltd Red Ord NPV £ 8,000 Princess Private E Ord Euro 0.001 900 Rio Tinto plc lop Ord (Regd) 1.262 Shell'B' Shares Euro 0.07 17,000 Schroder Oriental Incorne Fund Ltd Ip Ord 2,000 Smith & Nephew plc 12.22p Ord 1.675 T61ecom Plus 5p Ord 40.000 United Kingdom IGoNt 04 3.5/0 Bonds 2211012025 650 Unilever plc 0.0311 Ip Ord 1,700 Worldwide Healthcare plc 25p Ord 53.390.00 37,582.23 67,560.50 43.415.00 28,350.00 25.360.00 47.404.00 31,344.50 13,600.(K) 45.(AO.(N) 19,2?3.(M) 38,194.59 38.374.00 26,072.00 21,000.00 29,375.00 40.940.00 30,468.75 41,293.14 59,025.00 62,550.(M) 48.000.(M> 41,500.00 26.858.00 2.139.76 72.730.39 44,770.50 35.083.60 44,030.00 19,496.00 27,302.50 39,376.00 24,940.50 56,100.00 £1.282,488.96
Page 13 The HaDley Trllst Notes to the Flnanel#l Staternents for th¢ Year Ended 5th April 2024 Il Fixed Asset lllvestJneDts 2024 2023 Market value broUt forward AddÈlions Less disposal Ploceeds N¢t gain4(losses) on investments Market value rIed fotivard 1,275,394 287,791 (286,262) 5,565 £1,282,489 2024 1,438,516 157,267 (193,207) 127.182 £1.275.394 2023 Geographical allalysis United Kingdom invesknents Overseas investments 777,021 505.468 £1.282.489 598.45? 676.942 £1275,394 The book value of the investments at 5th April 2024 is £983,697. Net gainsl(lossesl on investtnents includes realised gains for the year of £10.19212023: Ioss £16,151] and unrealised gains1(loss¢s) on reyaluation to maJ*et va]ue of £(4.627} {2023.. loss £(111,031)]. 12 Cash at Bank 2024 2023 Natwe$t Bank plc Currey & Co LLP Manorbridge Invesbnent Management 84223 260 50.454 £134.937 63.973 48,500 £112,473 2024 2023 13 Cr¢ditors". Amounts due Mrythin on¢ y¢ar AdminisNive expenses- TrLESt¢¢ CutY¢y & Co LLP tndependeni examination fee Donations approved but not paid 647 5.472 412 43,450 £49,981 3.120 572 79,150 £82,842 14 Moveznent in FllDd5 2024 2023 Unrestrict Funds: Bal¥ncc brought forward Net movement in funds Balance Tled foTward 1.337,891 5,999 £1.343.890 1,472.791 (134.900) £1,337,891 N# movement iEJ fimds ineluded itt tbe above are as follows.. G4ins and Mov¢m¢nt i losses funds Illeome Olltgoings Unrestricted funds 65.716 (65.283 5,565 5.999
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HANLEY TRUST FOR THE YEAR ENDED S APRIL 2024 I rèport to the charity tnjstees on my examination of the a(*ounts of the chartty for thÈ year ended S April 2024 which are sèt out on pages S to 14. Responsibilitigs and basis of report As the ch81iVs trustees you are spOnsible for the preparation of the acLounls in accordance with the requirements ofthe Charities Act 2011 nhe Act'l. I report in r¢spect of my examination of thè ¢h8rity's accounts carrf¢d out under section 145 of the Act and in carrwng out Thy examination I have followed all thè applicable Directions givgn by the Charity Commi$sion under section 14515llbl of the Act. Independent Examine$ Statement I have completed my examination. I corM that no material mattèts have come to my attention in nneCtion with the examination gwing MÈ tAuse to believe that in any matei¥al respe¢t'. 8¢o)unting records were not kept in SpeCt of the charity as required by 8eclÈon 130 of the Act., or thè aeetsunts do not accord with Ihosè re¢ords- or 3. the accounts do not comply with the applicable requirements conMIng thè fomi and content of accounts set out in the Charities (Accounls 8nd Reports) Regulations 2CQ8 other than any requirement that the aco)unts give a tNe and fair viev/ which ts not a matter considered a8 part of an independent examinatiori. I have no Ca)ncems and have com8 auoss no other matters in connection with tha examination to whith attention should be drawn in this report in orderto enable 8 propèl understanding of the accounts to be rea¢hgd. Ailsa Farey CA CTA 4th Floor 7 Swallow Street LorKlon W1B4DE DATED this 29 day tsf 2025