Charity number: 313214 The Hale Trust Unaudited Trustees. report and financial statements For the year ended 31 March 2025
The Hale Trust Contents Page Reference and administrative details of the charity, its trustees and advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 7-12
The Hale Trust Reference and administrative details of the Charity, its trustees and advisers For the year ended 31 March 2025 Trustees Guy Humphry-Baker, Chairman Stuart H. Paterson Mrs Rachel Newns, Treasurer Mrs Charlotte Wilkinson Mrs Sarah Henderson Mrs Heather Kelso Charity registered number 313214 Principal office The Answer Centre, Albany House, 14 Shute End, Wokingham, Berkshire, RG40 1 BJ Accountants Kreston Reeves LLP, Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG Independent Examiner J A Peach, Kreston Reeves LLP, Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG Investment Advisers Rathbones Investment Management Limited, 8 Finsbury Circus, London, EC2M 7AZ Page 1
The Hale Trust Trustees. report For the year ended 31 March 2025 The Trustees present their annual report together with the financial statements of the Charity, The Hale Trust for the year ended 31 March 2025. These have been prepared in accordance with statutory requirements and Statement of Recommended Practice, "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (SORP 2019)" effective 1 January 2019. Objectives and Activities In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit. The objectives of the Charity, as established in the governing document dated 5th March 1970, have been to award bursaries and grants to enable beneficiaries to pursue education, and to provide financial assistance to any charitable voluntary organisation the objects of which are directed to 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. Achievements and performance REVIEW OF ACTIVITIES The Trustees are empowered to apply the income, after expenses of management, and at their discretion, the whole or part of the property of the Charity to beneficiaries, who have not attained the age of 25 years, for the promotion of education or training in Kent, Surrey, Sussex and Greater London. INVESTMENT POLICY AND PERFORMANCE Total income from invested funds amounted to £34,263 (2024 - £38,745). Net gains on investments in the year were £21,408 (2024 - gain of £73,335). Net cash oufflow of funds after direct Charitable Expenditure and Administration costs was £10,957 (2024 - inflows of £30,802). Total charitable expenditure was £58,306 {2024 - £62,261), which included charitable distributions of £45,171 (2024- £50,250). An analysis of charitable distributions is given in the detailed notes to the Accounts. Financial review GOING CONCERN After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have taken into consideration the current global uncertainty and the impact of this on the investment portfolio in making this decision. For this reason they continue to adopt the going concern basis in preparing the financial 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 Trust Trustees. report (continued) For the year ended 31 March 2025 Structure, governance and management METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. RISK MANAGEMENT The capital of the Trust has been invested in stocks and shares and is managed by Rathbones Investment Management Limited, the Trust's Investment Advisors. The investment portfolio is under constant review by them and the Trustees. The main risk is the general state of the UK and world economy and the affect it has on the value of the investments. The Trustees consider that to minimise the risks, as far as possible, a prudent investment strategy and adequate controls are in place. On regular basis, a formal appraisal of investment risks is carried out by the Trustees assisted by the Trust's investment managers to ensure the Trust continues to invest in a manner that balances capital growth with income available for distribution. The Trustees are of the opinion that the Charity has sufficient resources to meet its Charitable objectives. The Trustees do not receive any remuneration. TRUSTEES. RESPONSIBILITIES STATEMENT The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law applicable to charities in England & Wales 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 the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently" observe the methods and principles in the Charities SORP (FRS 102). make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (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 reasonable steps for the prevention and detection of fraud and other irregularities. This rep s approved by e Trustees, on 7 November 20 and signed on their behalf by: Guy ak hainnan Mrs Rachel Newns. Treasurer Page 3
The Hale Trust Independent examiner's report For the year ended 31 March 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HALE TRUST (the 'Charity') I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025. 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. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard 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. l understand that 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. I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act. or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Il.,u 2t4ies LL Dated: 7 November 2025 J A Peach FCA Kreston Reeves LLP, Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG Page 4
The Hale Trust Statement of financial activities For the year ended 31 March 2025 Total Total unrestricted unrestricted funds funds 2025 2024 Note INCOME FROM: Investments Other income 34,263 38,745 300 TOTAL INCOME 34,263 39,045 EXPENDITURE ON: Investment management fees Charitable activities Other expenditure 11,679 45,171 1,456 10,511 50,250 1,500 TOTAL EXPENDITURE 58,306 62,261 NET EXPENDITURE BEFORE INVESTMENT GAINSI(LOSSES) Net gainsl(losses) on investments NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES (24,043) 21,408 (23,216) 73,335 (2,635) 50,119 NET MOVEMENT IN FUNDS (2,635) 50,119 RECONCILIATION OF FUNDS: Total funds brought forward 1,333,574 1,283,455 1,330,939 1,333,574 TOTAL FUNDS CARRIED FORWARD The notes on pages 7 to 12 form part of these financial statements. Page 5
The Hale Trust Balance sheet As at 31 March 2025 Note 2025 2024 CURRENT ASSETS Investments Cash at bank and in hand 1,274,641 60,488 1,272,430 71,444 1,335,129 1,343,874 CREDITORS: amounts falling due within one year (4,190) {10,300) NET CURRENT ASSETS 1,330,939 1,333,574 NET ASSETS 1,330,939 1,333,574 CHARITY FUNDS Total unrestricted funds 10 1,330,939 1,333,574 TOTAL FUNDS 1,330,939 1,333,574 The finan statements were ap roved by the Trustees on 7 ovember 2025 and signed on their behalf, by: Guy mphry-Baker airman Mrs Rachel Newns, Treasurer The notes on pages 7 to 12 form part of these financial statements. Page 6
The Hale Trust Notes to the financial statements For the year ended 31 March 2025 Accounting policies 1.1 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 2019), the Financial reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a "true and fair" view 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 involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Hale Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value with the exception of investments which are measured at market value. No statement of cash flows has been provided as the charity is small under the Charities SORP (FRS 102). The financial statements are presented in sterling and rounded to the nearest £1 . 1.2 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. 1.3 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. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities. 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. 1.4 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 Bank. Page 7
The Hale Trust Notes to the financial statements For the year ended 31 March 2025 Accounting policies (continued) 1.5 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. 1.6 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. 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 the Charity and which have not been designated for other purposes. Investment income Total unrestricted funds 2025 Total unrestricted funds 2024 Investment income - local listed investments Bank interest receivable 33,884 379 38,531 214 34,263 38,745 Total 2024 38,745 Investment management costs Total unrestricted funds 2025 Total unrestricted funds 2024 Investment management fees 11,679 10,511 Total 2024 10,511 Page 8
The Hale Trust Notes to the financial statements For the year ended 31 March 2025 Analysis of expenditure on charitable activities Total unrestricted funds 2025 Total unrestricted funds 2024 Educational Bursaries Distribution to Educational or Charitable Bodies 28,356 16,815 22,400 27,850 45,171 50,250 Total 2024 50,250 Other expenditure Total unrestricted funds 2025 Total unrestricted funds 2024 Independent Examiner's Fee Sundry 1,260 196 1,500 1,456 1,500 Total 2024 1,500 Page 9
The Hale Trust Notes to the financial statements For the year ended 31 March 2025 Grants Payable 2025 2024 Activiteens Build Up Foundation CASE City Escape Drama Expressions Edenbridge Primary School EHAS Friends of Holcot Friends of Teal Fun 4 Kids Hindleap Warren - Funded Trips Hindleap Warren - Various Items Kent Enterprise Parallel Youth Enterprise Scamps in Surrey St George's Youth Club Summer Adventure for Inner Londoners (SAIL) The Dandelion Trust Team Tutsham Tower Hamlets Parents Centre Up n'Away William Robinson Gravetye Charity Young & Inspired 21 Together 1,000 1,000 2,000 1,000 750 1,000 1,000 2,000 1,500 1,000 4,250 2,850 750 1,000 1,000 750 1,000 3,000 5,000 2,815 2,000 1,000 1,000 1,000 1,000 1,000 2,000 1,000 16,815 27,850 Net incomel(expenditure) During the year, no Trustees received any remuneration (2024 - £NIL). During the year, no Trustees received any benefits in kind (2024 - £NIL). During the year, no Trustees received reimbursement of expenses totalling £N IL (2024 - £Nil). Current asset investments 2025 2024 Listed investments 1,274,641 1,272,430 Creditors: Amounts falling due within one year 2025 2024 Accruals 4,190 10,300 Page 10
The Hale Trust Notes to the financial statements For the year ended 31 March 2025 10. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Gainsl {Losses) Income Expenditure Unrestricted funds General Funds 1,333,574 34,263 (58,306) 21,408 1,330,939 Statement of funds - prior year Balance at 31 March 2024 Balance at 1 April 2023 Gainsl (Losses) Income Expenditure Unrestricted funds General Funds 1,283,455 39,045 (62,261) 73,335 1,333,574 Total of funds 1,283,455 39,045 (62,261) 73,335 1,333,574 Summary of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Expenditur Gainsl (Losses) Income Unrestricted funds 1,333,574 34,263 (58,306) 21,408 1,330,939 Summary of funds - prior year Balance at 31 March 2024 Balance at 1 April 2023 Gainsl (Losses) Income Expenditure Unrestricted funds 1,283,455 39,045 (62,261) 73,335 1,333,574 Page11
The Hale Trust Notes to the financial statements For the year ended 31 March 2025 11. Analysis of net assets between funds Analysis of net assets between funds - current year Total unrestricted funds 2025 Cu rrent assets Creditors due within one year 1,335,129 (4,190) 1,330,939 Analysis of net assets between funds - prior year Total unrestricted funds 2024 Current assets Creditors due within one year 1,343,874 (10,300) 1,333,574 12. Related party transactions There were no related party transactions during the current or prior year. Page 12