**Charity number: 310619** 

## **WILLIAM HARDING'S CHARITY** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 DECEMBER 2023** 



## WILLIAM HARDING’S CHARITY Charity No. 310619 

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2023 

Correspondents and Clerks to the Charity are Mr. J Leggett, Clerk Mrs. D Godleman, Assistant Clerk Bucks, HP20 2RZ Telephone: 01296 761688 



## **WILLIAM HARDING’S CHARITY** 

## **TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31[st] DECEMBER 2023 Charity Number 310619** 

## **Reference and Administration Details** 

- **1.1** The full name of the Charity is **WILLIAM HARDING’S CHARITY.** 

- **1.2** The names of the Trustees who have been in office for the whole or part of the year to 31[st] December 2023 are:- 

Lennard Maurice Wakelam (Chairman) Susan Pamela Hewitt (Vice-Chairman) Sherrilyn Bateman Kathleen Anne Brooker William John Yendell Chapple, O.B.E. Andrew Tusting (Appointed March 2022) Roy James Collis DL Leslie Sheldon Penelope Wendy Thorne 

- **1.3** The Charity is administered from the offices of the Clerk to the Trustees. 

Mr. J Leggett, Clerk Mrs. D Godleman, Assistant Clerk Rickford House, 12 Rickfords Hill, Aylesbury, Bucks, HP20 2RZ 

- **1.4** The Bankers to the Trustees are:- 

Lloyds Bank PLC, 1 Market Square, Aylesbury, Bucks. HP20 1TD The Bank of New York Mellon (International) Ltd. 1 Canada Square, London, E14 5AL 

- **1.5** The Stockbrokers appointed to manage the Charity’s investments are:Blackrock Investment Management, 12 Throgmorton Avenue, London, EC2N 2DL 

- **1.6** The Charity’s auditors are:- 

Messrs. Hillier Hopkins LLP, 249 Silbury Boulevard Milton Keynes Buckinghamshire MK9 1NA 

## **Structure, Governance and Management** 

- **2.1** The Charity arises from the Will of William Harding, proved on 19[th] February 1719 and is governed by a Charity Commission Scheme dated 19[th] October 1978 as amended 11[th] October 1991. 

- **2.2** Under the terms of the Scheme the Charity has nine Trustees; seven being co-optative and two nominative. 



- **2.3** The Trustees meet on a regular basis to consider and determine applications for charitable assistance. 

- **2.4** There have been no material changes in the policies of the Trustees in recent years. 

- **2.5** The organisation of the Charity centres upon the day to day administration being carried out by its Clerks and the regular meetings of the Trustees. 

- **2.6** New Trustees are given an induction pack to brief them on their legal obligations under charity law, the content of the governing document, the committee and decision making processes, the business plan and recent financial performance of the charity.  During their induction they meet key employees and other Trustees.  Trustees are encouraged to attend appropriate internal and external training events where these will facilitate the undertaking of their role. 

- **2.7** The Trustees have a risk management strategy which comprises; 

   - **2.7.a** An annual review of the risks the charity may face. 

   - **2.7.b** The establishment of systems and procedures to mitigate those risks identified in the plan. 

   - **2.7.c** The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. 

**2.7.d** Policies to cover General Data Protection Regulations (GDPR), Safeguarding and Complaints 

This work has identified no significant risks to the charity. 

## **Objectives and Activities and Public Benefit** 

**3.1** The Trustees are mindful of their duty to manage the affairs of the Charity for the public benefit and to this end make appropriate enquiries of all applicants both individual and corporate as to their capital and income to ensure that assistance is offered to those in need. 

**3.2** The objects of the Charity as specified in the Charity’s Scheme are:- 

To apply the income of the Charity after payment of the proper expenses of management as follows:- 

- **3.2.a** For the benefit of the residents of the Charity’s almshouses; 

- **3.2.b** For relief in need in accordance with the provisions of the Scheme; 



   - **3.2.c** Providing such special benefits of any kind not normally provided by the Local Education Authority for any maintained school, college of education or other institution of further education in or substantially serving the town of Aylesbury. 

   - **3.2.d** Providing exhibitions for beneficiaries under 25 years of age tenable at any secondary school, university, college of education or any other institution of further (including professional and technical) education; 

   - **3.2.e** Awarding maintenance allowances to beneficiaries who are in need; 

   - **3.2.f** Making grants of money to beneficiaries who are in need of financial assistance to enable them to travel in furtherance of their education; 

   - **3.2.g** Assisting beneficiaries who are in need of financial assistance by providing outfits, clothing, tools, instruments, or books or by paying their fees, travelling or maintenance expenses or by such other means for their advancement in life as the Trustees think fit; 

   - **3.2.h** Providing facilities of any kind not normally provided by the local education authority for recreation and social and physical training for beneficiaries who are receiving primary, secondary or further education; 

   - **3.2.i** Making grants of money to any charitable voluntary organisation in the town of Aylesbury for advancing the education of or improving the conditions of life for beneficiaries by developing their physical, mental and moral capacities through their leisure-time activities; 

   - **3.2.j** Promoting the education of beneficiaries in such ways as the Trustees think fit. 

   - **3.2.k** Applying income for the general benefit of the inhabitants of the town of Aylesbury. 

- **3.3** The Charity’s Scheme limits the area of benefit to the town of Aylesbury. 

- **3.4** The Charity has no specific investment powers. 



## **Achievements and Performance** 

- **4.1** The Charity owns 35 purpose built almshouse properties on four sites within Aylesbury; there are 6 one bedroomed houses, 2 two bedroomed houses, 7 one bedroomed bungalows, 3 two bedroomed bungalows, 5 one bedroomed flats and 12 two bedroomed flats.  The Charity is a member of the National Association of Almshouses. 

- **4.2** The objects of the Charity are promoted by contact with local organisations and bodies (including Aylesbury Schools); furthering the interests of the young, the old, those in need and the inhabitants of the town of Aylesbury generally. 

- **4.3** During the year under review hundreds of Aylesbury residents, both young and old, have benefited either directly or indirectly from the Charity.  Grants paid totalled some £ 623,340 in the following categories:- 

|Travel costs for 30 + voluntary Clubs and Societies|31,584|
|---|---|
|Individual pupil support<br>|180,400|
|Youth groups<br>|72,150|
|Schools and educational establishments|231,266|
|General benefit and relief in need<br>|107,940|
|Major grants (over £2,000) paid included:-||
|Heart of Bucks (pledge)|25,000|
|Prisoner’s Education Trust|5,790|
|Youth Concern|17,500|
|Ditto|12,000|
|Aylesbury Cheerleading Academy|5,400|
|Queens Park Arts Centre|20,000|
|Florence Nightingale Hospice Charity|9,000|
|Pegasus Gym|15,000|
|Respect Martial Arts Academy|15,000|
|Aylesbury Homeless Action Group|12,500|
|Community Safety Education|2,200|
|Inspire All CIC|5,000|
|Buckingham Street Youth Club German Exchange|3,500|
|Aylesbury Outlawz Cricket Club|5,000|
|Aylesbury Youth Action|20,000|
|Aylesbury District Guide Hall|22,650|
|Schools–||
|Green Ridge Primary|5,240|
|Chiltern Way Academy|2,100|
|Broughton Infant School|28,758|
|St Louis Catholic Primary School|6,868|
|Furze Dow n School|14,338|
|Turnfurlong Junior School|11,125|
|Pebble Brook School|8,408|
|Ditto|19,640|
|Sir Henry Floyd|30,000|
|Elmhurst School|1,500|
|Thomas Hickman School|10,219|
|Turnfurlong Infant School|10,208|
|William Harding School|41,265.69|
|Bearbrook Combined School|17,410|





**4.4** During the Year the Charity progressed the proposed residential development on the Charity’s land in Wendover Road Aylesbury in conjunction with the Option holder Cala Homes. 

- **4.5** Following the winding up of **Walton Educational Trust** in 2009, the property No. 23 Walton Road, Aylesbury, the former Home of the Founder, was vested in the Charity.   No. 23 Walton Road is let to Buckinghamshire Council at a peppercorn rent pursuant to the Charity’s objectives, but the Council have a full repairing obligation. 

- **4.6** With effect from 1[st] September 2023 the Firm of solicitors Parrott & Coales LLP ceased to act as Clerks to the Charity due to its liquidation as part of the Metamorph Group. With effect from 1[st] September 2023 the administration of the Charity moved from 14 Bourbon Street Aylesbury HP20 2RS to Rickford House, 12 Rickfords Hill, Aylesbury, HP20 2RZ and Mr John Leggett and Assistant Clerk Mrs Doudja Godleman provided service as Clerks direct to the Charity. 

- **4.7** During the Year the Charity opened negotiations with Jane Cole and Red Balloon an educational Charity supporting children with special educational needs with a view to the acquisition of Audley House, 15 Walton Terrace, Aylesbury, Bucks, HP21 7QY to provide such a facility to serve SEN children within Aylesbury. This initiative remains ongoing as at 31[st] December 2023. 

- **4.8** At the Trustees’ Meeting in October 2023 the Trustees resolved to support Queens Park Arts Centre with a grant of £ 499,000 payable in instalments to support a major expansion at the Centre and in due course the Charity’s investment would be converted into additional equity in the freehold of the Centre of which the Charity already own a substantial percentage. 

## **Financial Review** 

- **5.1** The financial position of the Charity is set out in the Charity’s accounts to 31[st] December 2023 and the following matters are highlighted:- 

- **5.2.1** The income and expenditure of the Charity is clearly set out in the Income and Expenditure Account. During the year under report, the balance sheet indicates investment assets held of £ 38,021,578. The Trustees continue to rely on advice from their stockbrokers. 

- **5.3** The Charity’s assets are held for the following purposes:- 

**(a) Almshouse properties** - for the occupation of almspersons; 

**(b) Freehold land** - as investment for the future in the event of development potential being realised; 

**(c) Investments and cash** - to provide income for the purposes of the Charity. 

- **5.4** The freehold properties have not been re-valued during the period the subject of this Report.  Tangible fixed assets were valued in 1997 at open market value and the movement was shown through unrestricted 



reserves.  The Charity adopted the transitional arrangements under FRS 15 and has not revalued the assets since this date. 

- **5.5** The Charity’s financial position enables the Trustees to anticipate future demands upon the Charity’s resources, for example in the field of education. 

- **5.6** There have been no changes in the accounting policies of the Charity, save for the format to comply with the latest recommended practice as advised by the Charity Commissioners. 

   - **5.6.1** The Charity has no subsidiary or associated undertakings. 

**5.6.2** The Charity is not financially dependent for support from any individuals, corporations or classes of donors known to play a key role in its affairs. 

- **5.6.3** The grant making capacity of the Charity continues to be dictated by the Charity’s available income.  A report on grants made during this period is included in this report. 

- **5.6.4** The Charity has not been set up to undertake a specific project. 

- **5.6.5** All investments and assets held by the Charity have been acquired in accordance with the powers available to the Trustees. 

- **5.6.6** The assets of the Charity are regarded by the Trustees as sufficient to meet their charitable objects. 

## **Plans for the Future** 

- **6.1** The Trustees will seek to continue to effectively manage and distribute the assets of the charity for the purposes of the charity’s objectives into the foreseeable future. 



## STATEMENT OF TRUSTEES’ RESPONSIBILITIES 

Charity law 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 its financial activities for that period. In preparing those Financial Statements the Trustees are required to:- 

- (a) Select suitable accounting policies and apply them consistently; 

- (b) Make judgements and estimates that are reasonable and prudent; 

- (c) State whether the policies adopted are in accordance with the Statement of Recommended Practice (Accounting and Reporting by Charities) issued by the Charity Commission for England and Wales and with applicable accounting standards, subject to any material departures disclosed and explained in the Financial Statements; 

- (d) Prepare the Financial Statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in business. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at the time the financial position of the Charity and to enable them to ensure that the Financial Statements comply with the Charities Act 2011.  They are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. 

The Report was approved by the Board of Trustees on 10 September 2024 

Lennard Maurice Wakelam (Chairman) 

(Signature) ............................................................... 



## **WILLIAM HARDING'S CHARITY** 

## **CONTENTS** 

||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Independent auditors' report on the financial statements**|2 - 5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Statement of cash flows**|8|
|**Notes to the financial statements**|9 - 23|





**WILLIAM HARDING'S CHARITY** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**Trustees**|Lennard Maurice Wakelam, Chairman|
|---|---|
||Susan Pamela Hewitt, Vice Chairman|
||Leslie Sheldon|
||Kathleen Anne Brooker|
||Penelope Wendy Thorne|
||William John Yendell Chapple, O.B.E.|
||Roy James Collis DL|
||Sherrilyn Bateman|
||Andrew Tusting|
|**Charity registered**<br>**number**<br>310619<br>**Principal office**<br>Rickford House<br>12 Rickford's Hill<br>Aylesbury<br>Bucks<br>HP20 2RZ<br>**Independent auditors**<br>Hillier Hopkins LLP<br>Chartered Accountants<br>249 Silbury Boulevard<br>Milton Keynes<br>Bucks<br>MK9 1NA<br>**Bankers**<br>Lloyds Bank PLC<br>1 Market Square<br>Aylesbury<br>Bucks<br>HP20 1TD<br>BlackRock Investment Management<br>12 Throgmorton Avenue<br>London<br>EC2N 2DL||



Page 1 



**WILLIAM HARDING'S CHARITY** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  WILLIAM HARDING'S CHARITY** 

## **Opinion** 

We have audited the financial statements of William Harding's Charity (the 'charity') for the year ended 31 December 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. 

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

Page 2 



**WILLIAM HARDING'S CHARITY** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  WILLIAM HARDING'S CHARITY (CONTINUED)** 

## **Other information** 

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

Page 3 



## **WILLIAM HARDING'S CHARITY** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  WILLIAM HARDING'S CHARITY (CONTINUED)** 

## **Auditors' responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management; 

- the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management about their own identification and assessment of the risks of irregularities; 

- any matters we identified having obtained and reviewed the Charity’s documentation of their policies and procedures relating to: 

   - ° identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; 

   - ° detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; 

   - ° the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; 

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. 

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. 

We also obtained an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to atement in the financial statements, including, but not limited to, the Charities Act 2011 and relevant tax legislation. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

Page 4 



## **WILLIAM HARDING'S CHARITY** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  WILLIAM HARDING'S CHARITY (CONTINUED)** 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. 

## **Use of our report** 

This report is made solely to the Charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. 

## **Hillier Hopkins LLP** 

Chartered Accountants Statutory Auditor 249 Silbury Boulevard Milton Keynes Bucks MK9 1NA 

Date: 8 October 2024 

Hillier Hopkins LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. 

Page 5 



## **WILLIAM HARDING'S CHARITY** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**Note**<br>**Income from:**<br>Charitable activities<br>3<br>Investments<br>4<br>Other income<br>5<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>7<br>**Total expenditure**<br>**Net income before net gains/(losses) on**<br>**investments**<br>Net gains/(losses) on investments<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>Net movement in funds<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2023**<br>**£**<br>**181,280**<br>**1,048,281**<br>**16,291**<br>**1,245,852**<br>**940,333**<br>**940,333**<br>**305,519**<br>**394,043**<br>**699,562**<br>**37,322,016**<br>**699,562**<br>**38,021,578**|**Total**<br>**funds**<br>**2023**<br>**£**<br>**181,280**<br>**1,048,281**<br>**16,291**<br>**1,245,852**<br>**940,333**<br>**940,333**<br>**305,519**<br>**394,043**<br>**699,562**<br>**37,322,016**<br>**699,562**<br>**38,021,578**|_Total_<br>_funds_<br>_2022_<br>_£_<br>_183,231_<br>_959,889_<br>_30,216_<br>_1,173,336_<br>_782,570_<br>_782,570_<br>_390,766_<br>_(4,515,189)_<br>_(4,124,423)_<br>_41,446,439_<br>_(4,124,423)_<br>_37,322,016_|
|---|---|---|---|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 9 to 23 form part of these financial statements. 

Page 6 



## **WILLIAM HARDING'S CHARITY** 

## **BALANCE SHEET AS AT 31 DECEMBER 2023** 

||||**2023**||_2022_|
|---|---|---|---|---|---|
||**Note**||**£**||_£_|
|**Fixed assets**||||||
|Tangible assets|11||**2,181,485**||_2,219,454_|
|Investments|12||**34,047,393**||_33,653,350_|
||||**36,228,878**||_35,872,804_|
|**Current assets**||||||
|Debtors|13|**264,474**||_249,591_||
|Cash at bank and in hand||**1,568,066**||_1,224,576_||
|||**1,832,540**||_1,474,167_||
|Creditors: amounts falling due within one||||||
|year|14|**(39,840)**||_(24,955)_||
|**Net current assets**|||**1,792,700**||_1,449,212_|
|**Total net assets**|||**38,021,578**||_37,322,016_|
|**Charity funds**||||||
|Unrestricted funds|15||**38,021,578**||_37,322,016_|
|**Total funds**|||**38,021,578**||_37,322,016_|



The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 

................................................ **Lennard Maurice Wakelam** 

## Date: 10 September 2024 

The notes on pages 9 to 23 form part of these financial statements. 

Page 7 



## **WILLIAM HARDING'S CHARITY** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**Cash flows from operating activities**<br>Net cash used in operating activities<br>**Cash flows from investing activities**<br>Dividends, interests and rents from investments<br>Purchase of investments<br>**Net cash provided by investing activities**<br>**Change in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**<br>The notes on pages 9 to 23 form part of these financial statements|**2023**<br>**£**<br>**(690,257)**<br>**1,033,747**<br>**-**<br>**1,033,747**<br>**343,490**<br>**1,224,576**<br>**1,568,066**|_2022_<br>_£_<br>_(568,569)_<br>_959,889_<br>_(500,000)_<br>**459,889**<br>**(108,680)**<br>_1,333,256_<br>_1,224,576_|
|---|---|---|



Page 8 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **1. General information** 

The Charity is an unincorporated organisation, arising from the will of William Harding, proved on 19th February 1719 and is governed by a Charity Commission Scheme dated 19th October 1978 as amended 11th October 1991. 

## **2. Accounting policies** 

## **2.1 Basis of preparation of financial statements** 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

William Harding's Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## **2.2 Income** 

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 

## **2.3 Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. 

All expenditure is inclusive of irrecoverable VAT. 

Page 9 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **2. Accounting policies (continued)** 

## **2.4 Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 

## **2.5 Tangible fixed assets and depreciation** 

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. 

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. 

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, . 

Depreciation is provided on the following bases: 

Almshouses - 2% straight line - Property refurbishments 2% straight line - Office equipment 20% reducing balance - Land & other buildings Not depreciated 

## **2.6 Investments** 

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. 

## **2.7 Debtors** 

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **2.8 Cash at bank and in hand** 

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

Page 10 



**WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **2. Accounting policies (continued)** 

## **2.9 Liabilities and provisions** 

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. 

## **2.10 Financial instruments** 

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **2.11 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

Investment income, gains and losses are allocated to the appropriate fund. 

## **3. Income from charitable activities** 

||**Unrestricte**|**Total**|_Total_|
|---|---|---|---|
||**d funds**|**funds**|_funds_|
||**2023**|**2023**|_2022_|
||**£**|**£**|_£_|
|Income from almshouses|181,280|**181,280**|_183,231_|



Page 11 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **4. Investment income** 

|**Unrestricted**<br>**funds**<br>**2023**<br>**£**<br>Investment income<br>1,031,934<br>Bank interest<br>16,347<br>1,048,281|**Total**<br>**funds**<br>**2023**<br>**£**<br>**1,031,934**<br>**16,347**<br>**1,048,281**|_Total_<br>_funds_<br>_2022_<br>_£_<br>_959,263_<br>_626_|
|---|---|---|
|||_959,889_|



## **5. Other incoming resources** 

|**Unrestricted**<br>**funds**<br>**2023**<br>**£**<br>Rent received<br>13,650<br>Other income<br>2,641<br>16,291|**Total**<br>**funds**<br>**2023**<br>**£**<br>**13,650**<br>**2,641**<br>**16,291**|_Total_<br>_funds_<br>_2022_<br>_£_<br>_13,650_<br>_16,566_|
|---|---|---|
|||_30,216_|



## **6. Analysis of grants** 

|Relief in Need<br>Travel for Clubs/Societies/Groups<br>Schools and other educational establishments<br>Individual pupil support<br>Youth Groups|**Grants to**<br>**Institutions**<br>**2023**<br>**£**<br>107,940<br>31,584<br>231,266<br>-<br>72,150<br>442,940|**Grants to**<br>**Individuals**<br>**2023**<br>**£**<br>-<br>-<br>-<br>180,400<br>-<br>180,400|**Total**<br>**funds**<br>**2023**<br>**£**<br>**107,940**<br>**31,584**<br>**231,266**<br>**180,400**<br>**72,150**|
|---|---|---|---|
||||**623,340**|



Page 12 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **6. Analysis of grants (continued)** 

|Relief in Need<br>Travel for Clubs/Societies/Groups<br>Schools and other educational establishments<br>Individual pupil support<br>Youth Groups|_Grants to_<br>_Institutions_<br>_2022_<br>_£_<br>_132,450_<br>_31,444_<br>_128,391_<br>_-_<br>_34,480_<br>_326,765_|_Grants to_<br>_Individuals_<br>_2022_<br>_£_<br>_-_<br>_-_<br>_-_<br>_143,793_<br>_-_<br>_143,793_|_Total_<br>_funds_<br>_2022_<br>_£_<br>_132,450_<br>_31,444_<br>_128,391_<br>_143,793_<br>_34,480_|
|---|---|---|---|
||||_470,558_|



Page 13 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **6. Analysis of grants (continued)** 

|**Name of Institution**<br>Ashmead County School<br>Autumn Leaf Club<br>Aylesbury Centre National Trust<br>Aylesbury Cheerleading Academy<br>Aylesbury District Guide Hall<br>Aylesbury Homeless Action Group<br>Aylesbury Methodist Church<br>Aylesbury Outlawz Cricket Club<br>Ayelsbury United Ladies and Girls Football Club<br>Aylesbury Youth Action<br>Bearbrook School<br>Bedgrove Infant School<br>Broughton Infant School<br>Buckinghamshire Mind<br>Child Bereavement UK<br>Chilterns MS Centre<br>Chilterns Way Academy Trust<br>Church on Berryfields<br>Churchill Court<br>Citizens Advice Buckingham Ltd<br>Community Impact Bucks<br>Florence Nightingale Hospice<br>Furze Down School<br>Green Ridge Primary Academy<br>Horizon Sports Club<br>Lindengate<br>MacIntyre<br>Monday Contact Club<br>Oakfield Ladies<br>Pebble Brook School<br>Pegasus Gym<br>Prisoner Education Trust<br>Queens Park Art Centre<br>Respect Martial Arts<br>Sir Henry Floyd Grammar School<br>Southcourt and Walton Court Community Project<br>St Louis Catholic School<br>St Michaels Catholic School<br>The Police Community Clubs of GB<br>The Vineyard<br>Thomas Hickman School<br>Turnfurlong Junior School<br>UK Astronomy<br>William Harding Combined School<br>Youth Concern<br>Grants under £2,000<br>**Total**|**2023**<br>**2022**<br>**£**<br>**£**<br>45,119<br>1,500<br>2,580<br>2,000<br>1,500<br>5,400<br>22,650<br>12,500<br>10,000<br>3,500<br>5,000<br>7,000<br>20,000<br>15,000<br>17,410<br>13,750<br>28,758<br>4,000<br>5,000<br>2,000<br>2,100<br>2,000<br>2,210<br>12,500<br>2,200<br>5,000<br>9,000<br>6,300<br>14,338<br>27,616<br>5,240<br>5,000<br>10,000<br>20,000<br>992<br>2,303<br>2,045<br>1,500<br>42,208<br>11,576<br>15,000<br>5,790<br>20,000<br>14,000<br>15,000<br>3,704<br>30,000<br>8,060<br>8,199<br>6,868<br>6,768<br>17,500<br>2,400<br>2,040<br>10,219<br>21,333<br>5,000<br>41,266<br>29,500<br>17,500<br>44,123<br>36,640<br>442,940<br>326,765|
|---|---|



Page 14 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **7. Analysis of expenditure on charitable activities** 

## **Summary by fund type** 

|Almshouses<br>Relief in Need<br>Travel for Clubs/Societies/Groups<br>Schools and other educational establishments<br>Individual pupil support<br>Youth Groups|**Unrestricte**<br>**d funds**<br>**2023**<br>**£**<br>316,993<br>107,940<br>31,584<br>231,266<br>180,400<br>72,150<br>940,333|**Total**<br>**2023**<br>**£**<br>**316,993**<br>**107,940**<br>**31,584**<br>**231,266**<br>**180,400**<br>**72,150**<br>**940,333**|_Total_<br>_2022_<br>_£_<br>_312,012_<br>_132,450_<br>_31,444_<br>_128,391_<br>_143,793_<br>_34,480_|
|---|---|---|---|
||||_782,570_|



## **8. Analysis of expenditure by activities** 

|Almshouses<br>Relief in Need<br>Travel for Clubs/Societies/Groups<br>Schools and other educational establishments<br>Individual pupil support<br>Youth Groups|**Activities**<br>**undertaken**<br>**directly**<br>**2023**<br>**£**<br>226,623<br>-<br>-<br>-<br>-<br>-<br>226,623|**Grant**<br>**funding of**<br>**activities**<br>**2023**<br>**£**<br>-<br>107,940<br>31,584<br>231,266<br>180,400<br>72,150<br>623,340|**Support**<br>**costs**<br>**2023**<br>**£**<br>90,370<br>-<br>-<br>-<br>-<br>-<br>90,370|**Total**<br>**funds**<br>**2023**<br>**£**<br>**316,993**<br>**107,940**<br>**31,584**<br>**231,266**<br>**180,400**<br>**72,150**|
|---|---|---|---|---|
|||||**940,333**|



Page 15 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **8. Analysis of expenditure by activities (continued)** 

|Almshouses<br>Relief in Need<br>Travel for Clubs/Societies/Groups<br>Schools and other educational establishments<br>Individual pupil support<br>Youth Groups|_Activities_<br>_undertaken_<br>_directly_<br>_2022_<br>_£_<br>_215,593_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_215,593_|_Grant_<br>_funding of_<br>_activities_<br>_2022_<br>_£_<br>_-_<br>_132,450_<br>_31,444_<br>_128,391_<br>_143,793_<br>_34,480_<br>_470,558_|_Support_<br>_costs_<br>_2022_<br>_£_<br>_96,419_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_96,419_|_Total_<br>_funds_<br>_2022_<br>_£_<br>_312,012_<br>_132,450_<br>_31,444_<br>_128,391_<br>_143,793_<br>_34,480_|
|---|---|---|---|---|
|||||_782,570_|



## **Analysis of direct costs** 

|Depreciation<br>Almshouses expenses|**Total**<br>**funds**<br>**2023**<br>**£**<br>**37,969**<br>**188,654**<br>**226,623**|_Total_<br>_funds_<br>_2022_<br>_£_<br>_38,031_<br>_177,562_|
|---|---|---|
|||_215,593_|



Page 16 



**WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **8. Analysis of expenditure by activities (continued)** 

## **Analysis of support costs** 

|Clerk to the Trustees<br>Other costs<br>Professional charges<br>Governance costs|**Total**<br>**funds**<br>**2023**<br>**£**<br>**73,368**<br>**4,686**<br>**-**<br>**12,316**<br>**90,370**|_Total_<br>_funds_<br>_2022_<br>_£_<br>_83,367_<br>_78_<br>_2,064_<br>_10,910_|
|---|---|---|
|||_96,419_|



The salary in respect of the Clerk to the Trustees is paid to a firm of solicitors of which the Clerk is a Consultant. 

## **9. Auditors' remuneration** 

||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**5,500**|_5,000_|
|Fees payable to the Charity's auditor in respect of:|||
|All non-audit services not included above|**4,750**|_4,090_|



## **10. Trustees' remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ . 

During the year ended 31 December 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ . 

Page 17 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **11. Tangible fixed assets** 

|**Cost or valuation**<br>At 1 January 2023<br>At 31 December 2023<br>**Depreciation**<br>At 1 January 2023<br>Charge for the year<br>At 31 December 2023<br>**Net book value**<br>At 31 December 2023<br>_At 31 December 2022_<br>**12.**<br>**Fixed asset investments**<br>**Cost or valuation**<br>At 1 January 2023<br>Revaluations<br>At 31 December 2023<br>**Net book value**<br>At 31 December 2023<br>_At 31 December 2022_|**Freehold**<br>**property**<br>**£**<br>**2,084,264**<br>**2,084,264**<br>**856,794**<br>**33,000**<br>**889,794**<br>**1,194,470**<br>_1,227,470_|**Office**<br>**equipment**<br>**£**<br>**5,330**<br>**5,330**<br>**4,087**<br>**249**<br>**4,336**<br>**994**<br>_1,243_|**Other fixed**<br>**assets**<br>**£**<br>**1,009,620**<br>**1,009,620**<br>**18,879**<br>**4,720**<br>**23,599**<br>**986,021**<br>_990,741_|**Total**<br>**£**<br>**3,099,214**|
|---|---|---|---|---|
|||||**3,099,214**|
|||||**879,760**<br>**37,969**|
|||||**917,729**|
|||||**2,181,485**|
|||||_2,219,454_|
|||||**Listed**<br>**investments**<br>**£**<br>**33,653,350**<br>**394,043**|
|||||**34,047,393**|
|||||**34,047,393**|
|||||_33,653,350_|



Page 18 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **13. Debtors** 

|**Due within one year**<br>Other debtors<br>Prepayments and accrued income<br>**14.**<br>**Creditors: Amounts falling due within one year**<br>Accruals and deferred income|**2023**<br>**£**<br>**261,617**<br>**2,857**<br>**264,474**<br>**2023**<br>**£**<br>**39,840**|_2022_<br>_£_<br>_247,083_<br>_2,508_|
|---|---|---|
||||
|||_249,591_|
|||_2022_<br>_£_<br>_24,955_|



Page 19 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **15. Statement of funds** 

## **Statement of funds - current year** 

|**Balance at 1**<br>**January**<br>**2023**<br>**£**<br>**Unrestricted funds**<br>General Funds - all funds<br>**37,322,016**<br>**Statement of funds - prior year**<br>_Balance at_<br>_1 January_<br>_2022_<br>_£_<br>**Unrestricted funds**<br>General Funds - all funds<br>_41,446,439_|**Income**<br>**£**<br>**1,245,852**<br>_Income_<br>_£_<br>_1,173,336_|**Expenditure**<br>**£**<br>**(940,333)**<br>_Expenditure_<br>_£_<br>_(782,570)_|**Gains/**<br>**(Losses)**<br>**£**<br>**394,043**<br>_Gains/_<br>_(Losses)_<br>_£_<br>_(4,515,189)_|**Balance at**<br>**31**<br>**December**<br>**2023**<br>**£**<br>**38,021,578**|
|---|---|---|---|---|
|||||_Balance at_<br>_31_<br>_December_<br>_2022_<br>_£_<br>_37,322,016_|



Page 20 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **16. Summary of funds** 

## **Summary of funds - current year** 

|**Balance at 1**<br>**January**<br>**2023**<br>**£**<br>General funds<br>**37,322,016**<br>**Summary of funds - prior year**<br>_Balance at_<br>_1 January_<br>_2022_<br>_£_<br>General funds<br>_41,446,439_|**Income**<br>**£**<br>**1,245,852**<br>_Income_<br>_£_<br>_1,173,336_|**Expenditure**<br>**£**<br>**(940,333)**<br>_Expenditure_<br>_£_<br>_(782,570)_|**Gains/**<br>**(Losses)**<br>**£**<br>**394,043**<br>_Gains/_<br>_(Losses)_<br>_£_<br>_(4,515,189)_|**Balance at**<br>**31**<br>**December**<br>**2023**<br>**£**<br>**38,021,578**|
|---|---|---|---|---|
|||||_Balance at_<br>_31_<br>_December_<br>_2022_<br>_£_<br>_37,322,016_|
|**Summary of funds - prior year**|||||
|General funds|||||



## **17. Analysis of net assets between funds Analysis of net assets between funds - current year** 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Creditors due within one year<br>**Total**|**Unrestricte**<br>**d funds**<br>**2023**<br>**£**<br>2,181,485<br>34,047,393<br>1,832,540<br>(39,840)<br>38,021,578|**Total**<br>**funds**<br>**2023**<br>**£**<br>**2,181,485**<br>**34,047,393**<br>**1,832,540**<br>**(39,840)**|
|---|---|---|
|||**38,021,578**|



Page 21 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **17. Analysis of net assets between funds (continued)** 

## **Analysis of net assets between funds - prior year** 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Creditors due within one year<br>**Total**|_Unrestricted_<br>_funds_<br>_2022_<br>_£_<br>_2,219,454_<br>_33,653,350_<br>_1,474,167_<br>_(24,955)_<br>_37,322,016_|_Total_<br>_funds_<br>_2022_<br>_£_<br>_2,219,454_<br>_33,653,350_<br>_1,474,167_<br>_(24,955)_<br>_37,322,016_|
|---|---|---|



## **18. Reconciliation of net movement in funds to net cash flow from operating activities** 

## **19.** 

|Net income/expenditure for the year (as per Statement of Financial<br>Activities)<br>**Adjustments for:**<br>Depreciation charges<br>Gains/(losses) on investments<br>Dividends, interests and rents from investments<br>Increase in debtors<br>Increase in creditors<br>**Net cash used in operating activities**<br>**Analysis of cash and cash equivalents**<br>Cash in hand|**2023**<br>**£**<br>**699,562**<br>**37,969**<br>**(394,043)**<br>**(1,033,747)**<br>**(14,883)**<br>**14,885**<br>**(690,257)**<br>**2023**<br>**£**<br>**1,568,066**|_2022_<br>_£_<br>_(4,124,423)_<br>_38,031_<br>_4,515,189_<br>_(959,889)_<br>_(43,994)_<br>_6,517_<br>_(568,569)_<br>_2022_<br>_£_<br>_1,224,576_|
|---|---|---|



Page 22 



## **WILLIAM HARDING'S CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **20. Analysis of changes in net debt** 

||**At 1**||**At 31**|
|---|---|---|---|
||**January**||**December**|
||**2023**|**Cash flows**|**2023**|
||**£**|**£**|**£**|
|Cash at bank and in hand|**1,224,576**|**343,490**|**1,568,066**|



## **21. Grant commitments** 

Commitments in respect of grants approved for projects which have not been accrued in the financial statements but will form part of grants were £499,304 (2022: £14,160). 

Page 23