Charity number." 313214 The Hale Trust Unaudited Trustees, report and financial statements For the year ended 31 March 2024
The Hale Trust Contents Page Reference and administrative dotails of the charity, its trustaos and advisers Trustees, report Independent examinerfs report Statement of flnanclal activities 8alance shèet Not8s to the flnancial statements 7-13
The Hale Trust Rerence and administrative details of the Charity. ts trustees and advisers For the yoar ended 31 MarGh 2024 Trustees Guy Humphry-Baker, Chairman Stuart H. Paterson Mrs Rachel Newns. Treasurer Mrs Charlotte Wilkinson Mrs Sarah Henderson Mrs Heather Kelso Charlty reglstored number 313214 Principal offic8 Ryefield, Dairy Lane, Crockham Hill, Edenbridge. Kent, TN8 6RA Accountants Kreston Reeves LLP, Springfield Hijuse, Springfield Road, Horsham. West Sussex, RH12 2RG Independent Examinor J A Peach. Kreston Reeves LLP. -8pringfipld Hoiise. Springfield Road. Horsham, Wost Su66ex. RH12 2RG Investment Advisers Ralhbones Investrnent Management Limited, 8 Finsl)ury Circus. London. EC2M 7AZ P3Je I
The Hale Trust Trustees. report For the year ended 31 March 2024 Th8 Trustees present their annual report together with the financial ststemgnts of the Charity. The Hale Trust for the year 8nded 31 March 2024. These have been prepared in accor(iance wf(h slatutory requirements and Stat8ment of Recrnended Practi, 'Accounts"ng and Reporting by Charities preparing their accounts in accordance wlh the Financial Reporting Standard aoplicable in the UK and Republic of Ireland (FRS 102) ISORP 201g)° effecttve 1 January 2019. Objective¥ and Actlvities In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the charity commissron relating to public benefrt. The objectives of the Charty. as eslablish6d in thg goveming document dated 5th March 1970. have been to award bursaries and grants to enable beneficiaries to putsue education, and to provide financtal assistance to any charttable volLtntary organisats'on the objects of which are directed to advaniing the education of, or improving the conditions of life for beneficiaries by developing their physical, mental and moral Gapacities through their leisure time activitiès. Achievements and perfomiance REVIEW OF ACTIVITIES The Truslk*eb are empowere¢J to apply Ihe income, after expenses of manageTnent, and at their discretion. the whole or part of the propety of the Chanty to beneficiaries, who have not attain8d the age of 25 years. for the promotion of education or training in Kent. Surrey. Sussex and Greater London. INVESTMENT POLICY AND PERFORMANCE Totsl income from invested funds amounted to £38.745 {2023 - £42.466). Net qains on investment8 in Ihp. yoar wore £73.335 (2023 losaeg of £04.300>. NeL inflow of Tunas after direct Charitable Expendrture and Administration costs was £30,802 (2023 - inflows of £5,470). Total charitable expenditure was £62,261 (2023 £64.162). whth included charitable distrtbutions of £50,250 {2023 - £54,253). An analysis of charitable distributions is given in the detailed notes to the Accounts. Financial review GOING CONCERN After making appropriate enquiries, the tTUSlees have a reasonable exCtatIOn that the Charity has adequate resources to continue in operational existence for tre foreseeable future. The Trustees have taken into cfjnsideration the current global uncertainty and the iTrpact of this on the investment portfolio in making this dcci8ion. for this redbull Uiey conllnue to a¢Jopi the going concem basis in preparing the ffinancial statements. RESERVES POLICY There are no ongoing commitments for management expenses and it is. therefore, considered that it is not necessary to provide a reserves policy. Page 2
The Hale Tnt Trustees. report (continued) For the year ended 31 Mar¢h 2024 Structure. govemance and managoment METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the Charily is the responsibility of the Trustees who are elected and coopted under the temis of the Trust deed. R18K MANAGEMENT The capital of the Trust has been invested in St and shares and is managed by Rathi)on8s Investment Managemellt Limited, the Trust's Investment Advisors. The investment portfolio is under constant review by them and the Trustees. The fflain risk is the general state of tha UK and world economy and the affect it has on the value of the investments. The Trustees o)nsider that to minimise the risks, as far as possible, a prudent investment strategy and adequats controls are in place. On regular basis. a fo81 appraisal of investment risks is carried out by the Trustaes assisted by the TnJst'3 investment managers to ensure the Trust conb'nues to invest in a manner that balances capital growth with incotne availate for distribution. The Trustees are of the opinion that the Charwty has sufficient resources to meet its Charitable objectives. The Trustees do not recèivo any remuneration. TRUSTEES, RESPONSIBILITIES STATEMENT The Truslees are responsible for preparing the Truste>s' rekK)rt and the financial ststements in accordance with applicknble law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AcGounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for •aeh financial year which givc a true and fair Yiew of the State of affclllb uf ilie Gharlty anu of the incoming resources and application of reSoUeS of the Chatity for that period. In preparing these financial statements. the Trusiees are required to: Selt 8Uitable aGcounting FX)licies arKI then apply them consisienuy; obberve the methods and principles in the Charitse5 SORP {FRS 102); mAkp judgments and accounting e£timato2 that are rcasonable and pnjdent" state whether applicable UK A¢xountng Standards {FRS 102) have been followed, subjecl to any material dapartures disclosed and explained in the finanoal statements., prepare the finanaal statoments on the going concern basis unl8ss it is inappropriate to presume that the Charity will continue in operatior). The Trustees are responsible for keeping proper acccAJnting records that are sufficient lo show and explain the Chartys transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enoblc thcm to enaure that the financial 5tateiii¥iils WlTiply wilh the Charltles 2011, the Lharity (Accounts and Reports} Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasorpble steps for the prevention and detection of fraud an other irre larities. s approv Trustees, on 15 Novemb 024 and signed on their beha by: umphry-Bake , ir5 Rachel Newns. Treasurgr Paje 3
The Hale Trust Independent examiner's report For the year ended 31 March 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HALE TRUST (the 'Charlty') I report to the Chanty Trustees on my examination of the accnts of the Chan'ty for the Sear ended 31 March 2024. This report is made solely to the Charitvs Trustee& as a body. in accordan wtth Part 4 of the Charities (Accounts and RerKJrts) Regulations 2008 My work has been undertaken so that I might state to the charits Trustees those matters l am required to state to thn in an Independent examiners report and for no other purpose. To the fullest extent P8nnitted by law, I do not accept or assume reswnsibility to anyone olher than the Charity and the CharitS Trustees as a boty. for my vhyk or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity you are responsible fcr the prepar8ts.on of the accounts in accordance wilh the requirements of the Charities Act 2011 (Vie 2011 Act.). I report in respect of my examination of the Chariws accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable DIre.OnS given by the Charity Commission under section 145(5){b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your attention is drawn to the fact that the Charity has Jrepared the accounts in accordanTr with AOUnting and Reporting by Charities. Stalement of Recommended Practi applicable to chantses preparing their accounts aGcordance with the Financial Reporting StaE]dard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporling by Charities. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulats'ons but S been wthdrawn. l understand that this has been done in order for the accounts to [0VIde a true and fair view in accordance with the Cenerally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I can confirm that fjo matters have come to my attention in connection with Ihe examination giving me cause to believe thal in any material respecL" accounting records were not kept in respect of ihe Chanty as required by section 130 of the 2011 Act., or the accounts do not acrd with ihose iecords" or th8 accounts do not comply wth the appli¢aè.le requirements CA)nming the form and content of accounts sèt out in the Charities (Accounts and Reports} Regulatsons 2008 other than any requirement Ihat the accounts give a Irue and fair view whic*) is mt a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enabk a proper urKlerstanding of the accounts to bp rp.Ar.hp.d. Signed.. Il.,k etsuÉs LLP Dated: 15 NOVemr 2024 J A Peach FCA Kreston Reeves LLP. Springfield House Springfield Road Horsham West Sussex. RH12 2RG Pe4
The Hale Trust Statement of financial activities For the year ended 31 March 2024 Tolal unrestricted funds 2024 Total unrestricled funds 2023 Note INCOME FROM: Investments Other income 38,745 300 42,466 TOTAL INCOME 39.045 42,466 EXPENDITURE ON: Investment management fees Charitable activities Other &xpenditure 10,511 50.250 1.500 8,709 54,253 1,200 TOTAL EXPENDITURE 62,261 64,162 NET EXPENDITURE BEFORE INVESTMENT GAINSI{LOSSES) Net gainsJ(lossesl on investments NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES 123.216) 71335 (21,696) (84,300) 50,119 {105,996) NET MOVEMENT IN FUNDS 50,119 (105,996) RECONCILIATION OF FUNDS: Totsl funds brought forward 1,283,455 1,389,451 TOTAL FUNDS CARRIED FORWARD 1,333.574 1.283.455 The notes on pages 7 to 13 fonn part of these ffinancial statements. Paoe 5
The Hale Trust Balance sheet As at 31 March 2024 2024 2023 Note CURRENT ASSETS Investments Cash at bank and in hand 1.272.430 71,444 1.246.263 40,642 1.343.874 1,286,905 CREDITORS: amounts fallin9 due thIn one year (10.300) (3.450) NET CURRENT ASSETS 1.333.574 1,283,455 NET ASSETS 1,333.574 1,283,455 CHARITY FUNDS Total unrestricted ftjnds 10 1.333,574 1,283,455 TOTAL FUNDS 1,333.574 1,283,455 The fina statements were ap Vgd by the Trustees o November 2024 and signed on their behalf, by. Guy mphry4ak , Chaimian rs Rachel Newns. Treasurer The notes on pages 7 to 13 fom part of these financial statemants. Page 6
The Hale Trust Notes to the financÈal statements For the year ended 31 MarGh 2024 Accounting pollcie5 1.1 8asls of preparation of financial statements The financial statements have been prepared in accordan wtth the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended PraGtice applicable to Gharities preparing their ac(xJunts in accordance wrth the Financial Reporting Standard appli(xble in the UK and Republic of Ireland (FRS 102) (etfecltve 1 January 2019), the Financial reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The finanaal statements have tEen prep&ed to gtve a Irue and fair Mew and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair view. This departure has involvedfollowing thg Ch3rities SORP IFRS 102) published on 16 July 2014 rather than the Accounting ard Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 whiGh has sin(2 been withdrawn. The Hale Trust meels the definits'on of 8 public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value with the exception of inveslments which are measured at markel value. No slatement of cash flows has been prOVed as the charity is small under the Charities SORP (FRS 102) The ffinancial statements are presented in *terting and rounded to the nearest £1. 1.2 Incom8 All Inme is recognised once the Charity has entitlement to the income. it is probable that the income will be reiVed and the amount of inCMe receivable cxn be measured reliably. 1.3 Expendlture Expenditure is recognised On there is a legal or construckn've obligation to transfer economic benefil lo a third party, it is probable that a transfer of economic benefits will be required in setmement and the amouTrt of the obligatson can be measured reliably. Expendtture is dassified by activity. The Gosts of each activity are rnade up of the total of direct costs and shared costs, inGluding support costs involved In unoertaking each activty. Direct costs attn'butable to a single aclivity are allocated directly to that actNity Shared sIS whith contrtbute ta mnre than one activity and support costs which are not attributsble to a single activty are apportioned beeen those activities on a basis consistent with Ihe use of resources. Central staff costs are alloc8tÈd on the basis of time spent and depreciab'on charges allocated on the portion of tho asseys use. Costs of generaling fijnds are costs incuned in attracting voluntary income. and those incurred in trading activibes that raise funds. Chatilable activities and Govemance costs are costs incurred on the Charitys educalional operalions, including support costs and costs relatinq to the govemance of the Charity appnrtionpd to charitable aGttvities. Grants payable are charged in the year wien the offer is made except in those cases where the offer ig conditional. such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to condits'ons which have not been met at the year end are noted as a commitment, but not accrued as expenditup. 1.4 Interest receivable Interest on funds held on deposit is indueed when rec£ivable and the amount can be measured reliably by the Charity: this is nomially upon not[fican of the interest paid or payable by the Bank.
The Hale Trust Notes to the financial statements For th8 year endod 31 March 2024 Accounting policies (continued) 1.5 Cash ai Bank and in hand Cash at bank and in hand indudes $h and short temi highly liquid investments with a short maturity of three months or less from the date of acquisilion or opening of the deposit or similar account 1.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance ghoet date as a result of a past evenl. il is probable that a transfer of economi¢ benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Lsabilities are recognised at the amount that the Chartty anticipates It will pay to setue the i*bl or the amounl it has received as adVand payments for the goods or services it must provide. 1.7 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 Charity and which have not been designated for other purposes. Invostment Ineome Total unrestricted funds 2024 Total unrestricted funds 2023 Investment income - It)cal listed investments Dank inl¢r¥&L i¥1¥<11 38,531 214 42,447 19 38,745 42.466 Total 2023 42,466 Investmont management costs Total unrestricted funds 2024 Total unrestricted funds 2023 Investment management fees 10.511 8,709 Total 2023 8.709 Paoe 8
The Hale Trust Notes to the financial statements For the year ended 31 March 2024 Analysis of expenditure on charitable actfvities Total unrestricted funds 2024 Total unrestricted funds 2023 Educational Bursanes Distribution to Educational or Chantable Bodies 22,400 27,850 21,000 33,253 50,250 54,253 Total 2023 54,253 Other experKliture Total unrestricted funds 2024 Total unrestricted funds 2023 Independent Examinees Fee 1,500 1,200 Tolal 2023 1.200 PaJe 9
The Hale Trust Notes to the financial statements For the yoar endgd 31 March 2024 Grants Payable 2024 2023 Activiteens Asdon Jazz Academy Build Up Foundation Caldecott Foundation CASE City Escape Drama Expressions Ed8nbridge Pnmary School EHAS Friends of Holcot Frtends of TEAL Fun 4 Kids Hackney Quest Handicapped Children's Action Group Happy Kids Hindleap Warren - Funded Tnps Hindloap Warren- Various Items Kent Enterpnse Kids in the Swllight Kias N'Aciion Kids Space Oxted School Parallel Youth Enterprise Scamps in Surrey St George's Youth Club St Silvan's Area Charity Summer Adventure for Inner Londoners (SAIL) The Clockwork Charttabl8 Trust The HeJe Foundalion Tools4Teens Tower Hamlets Parents Centre Treasured Moments Up n'Away William Robinson Gravety8 Charity Young & Inspired 21 T(KJether 1,000 700 1,000 1,000 1,500 2.000 1,000 2.000 1.000 750 1,000 1,000 2.000 1.500 1.000 700 1,000 2,700 1.000 750 700 700 5,000 3.581 4,250 2,850 750 700 750 1,000 672 1,500 1.000 1,000 750 500 1,000 1.000 750 9DO 700 750 700 1.000 1,000 1,000 1,000 1,000 27,850 33,253 Net incomel(expendilure) During trt9 year, no TrUstcC received ary remuneration (2023 - £NIL). During Ihe year. no Trustees received any beneffts in kind {2023 - £NIL). During the year. no Tnjstees reiVed reimbursanent of expenses totalling £NIL {2023 - £Nil). Pago 10
The Hale Trust Notes to the financlal statements For Iho year ended 31 March 2024 Current asset investrnents 2024 2023 Listed invesknents 1.272.430 1.246.263 Credltors- Amounts falling due wlthin one year 2024 2023 Accruals 10,300 3,450 Pag811
The Hale Trust Notes lo the financial statements For the year ended 31 MarGh 2024 10. Statement of funds Statement of funds - current yèar Balance at 31 March 2024 Balance at 1 April 2023 Gainsl (Losses} Income Expenditure Unrestricted funds General Funds 1,283A55 39,045 {62,261} 73.335 1,333,574 Statém@nt of funds - prior year Balance at 31 March 2023 Balance at 1 Apnl 2022 Gainsl (Losses) Income Expenditure Unrestricted funds General Funds 1.389.451 42.466 (64,162} (84,300) 1,283,455 Total of funds 1.389.451 42,466 (64,162) {84,3001 1,283,455 Summary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Gainsl (Losses) Income Expenditure Unrestricted funds 1.283.455 39,IM5 (62,261) 73,335 1,333,574 Summary of fund5 - prioryear Balance 3t 31 March 2023 Balance at 1 April 2022 Gainsl (Losses) Inrne Expenditure Unrestricted funds 1,389.451 42,466 164.162} (84,300) 1,283,455 Page 12
The Hale Trust Notes to the financial statements For the year endod 31 March 2024 11. Analysis of net assets between funds Analysis of net assets between funds - cuThont year Total unrestrlcted funds 2024 Current assets Creditors due within one year 1,343,874 110,300) 1,333,574 Analysis of net assets between funds - prior year Total unrestrictad funds 2023 Current assets Creditors due within one year 1.286,905 (3,450) 1.283,455 12. Rolatèd party transadion8 There were no ieldlltd party transacDons Ounng me cuent or prior yEar. Page 13