Charlty registration number. 313577 The Isabel Blackman Foundation Trustees, Annual Report and Audited Financial Statements for the Year Ended 5 April 2024
The Isabel Blackman Foundatlon Contents Reftrence and Administrative Details Trustees, Report 2to5 Independent Auditors, Report 6t08 Statement of Financial Activities Balance Sheet io Notes to the Financial Statements Ilto24
The Isabel Blackman Foundation Reference and Administrative Details The Isabel Blackman Foundation is a local registered charity founded by the late Isabel Blackman for the benefit of the peopl¢ of Hastings and St Lnards-On-Sea. Cbairman Mrs P H Connolty Seeretary D Harding Trustees Mrs P H Connolly D Harding M H Cornes MTS C S Deacon M J Gratton M L Holgate 313577 Charffity Registration Number Principal Office Stonehenge 13 Laton Road Hastings East Sussex TN34 2ES Solicitors Heringtons 5-6 Albert Road Hastings East Sussex TN34 IQT HSBC Bank PLC 4 Robertson street H&8tings E&st Sussex TN34 1 HW Bankers Accountants and Independent Audltors Manningtons Chartered Accountants 39 High Street Battle TN33 OEE Inv¢stment Manager CCLA Investment Management Lid One Angel Lane London EC4R 3AB Pa8e I
The Isabel Blackman Foundation Trustees, Report The trustees present their report, together with the financial stalements for the year ended 5 April 2024. The financial statements have been prepared in accordaDrK with the accounting policies set out in the notes lo the fInancial statements and comply with the charity's trust deed and applicable law. Hl$tory and Objects of the Foundatlon By a trust deed dated 22 August 1966 Isabel Arny Blackman crealed a Foundation for charitable purposes with the object of providing financial help to the people of Hastings and district in areas which include education, Christian religion, social well betng, health and caring for Ihe elderly and disabled. Organlsatlon The Foundation is known as 'The Isabel Blackman Foundation, and is an unincorporated charity. registered with the Charity Commission, carrying on its blnesS at 13 Lalon Road. Haslings. East Sussex. Resolutions are passed by a majority vote of the tntee$ and in the event of a tie, the chairnian has a casting vote as well as an original vote. The minimum number of trustees required to pass a Tesolution is four. The statutory power of appointing new trustees is vested in the managing trustees for the time being. New trustees are found from the ¢onta¢ts and knowledge of existing trustees and are persons who will have a broad knowledge of the locality and its needs, together with a good understanding of what is required to be a trustee of a charity. and will bring individual skills and experience of value to the Foundation. Potential trustees are interviewed by the board and receive written infornialion of the Foundation with copies of the tnist deed and full accounts and reports. Before appoinlmenl. they attend a full trusiee meeting with all relevant papers as part of the induction pr¢5$. Grant Maklng Polley The trustees have continued the pursuit of the objects of the Foundation by the provision of grants to many of those individuals, ¢hariti¢s and other organisations which have sought help during the year. No material changes in the Foundation's grant makin8 policy have taken place or are anlicipated but, in order to achieve greater consistency in making grants, the trustees have defined more precisely the geographical boundaries within which Isabel Blackman sought to confine the operation of her charity. However, should an applicant be able to satisfy the tnistees that there is a direct or genuine connection with the people of Hastings and St Leonards-on-so the policy still enables the trustees to make grants for use outside the area. Applications for grants are more likely to succeed where it can be shown that the applicants are helping themselves as well as seeking assistance. Publle Benefit The Foundation is satisfied that although it makes a number of grants to individuals {e.g. students qualifying for education grants) it achieves its contribution to the public benefit by the grants it makes lo local schools, health and social services and many other local and national charities that provide services for the public benefit, The trusl¢¢s confirni that they have complied with the requirements of Section 4 of the Charitie5 A¢t 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Page 2
The Isabel Blackman Foundation Trustees, Report (continued) Finaneial Review and Investment Policy During the year the trustees held seven fonnal meetings when most grant applications were consldered and dealt with. Other and urgent business was conducted at the regular infornial meetings each week. Of the 108 appIltIonS rec¢ived, 88 qualified for consideration. and of these 68 were granted fully or in part. An analysis of the grdnts payable by the Foundation this year shows: Classification Amount {£) Education 15 33.175 21,415 50.500 45.710 1,200 6,900 20,000 18.5 Culture and Recreation 10 12.0 Health 20 28.2 So¢ial Services 16 25.5 Religion Environment Youth Organisations 67 178.900 100.0 The trustees have dischar8ed their duties to safeguard the Foundation's investments by continuing to rely upon the regular and expert advice provided by the directors of CCLA Inveslment Management Limited. They have r¢viewed the financial position of the charity and its investments and have consulted personally during the year with the inv¢siment manag¢r's repr¢s¢ntative. The trustees note the improvement in global sto¢kmarkets 8enerally, and the Consequent increase in the valuation of the Foundation's investments. Performgnee Revlew and the Future The trustee5 seek reports from grant beneficiaries to discover that what has been intended has been achieved and are always glad to receive confimation from students that they have achieved their qualifications; that buildings have been successfully repaired; that equipment obtsined is in use and the disadvantaged help¢d. Personal visits by the trustees also take place. As to the future, the Foundation aims to maintain its existing annual grants total equivalent to its income with recourse to its reserves where appropriate, and to continu¢ to hl¢ve the aims and aspirations of its founder. Reserve$ Polley Thc free reserves of the Foundation are the unrestricted fimds not invested in tangible fixed asset5, nor designated for the conditional offer of grants. The trustees have reviewed the Foundation's policy which is to maintain such sum as may be necessary to cover the cost of repairs and maintenance to its freehold property and also to enable it to respond to applications for grants as and when they are r¢¢¢ived. The free reserves at S April 2024 amount to £304,978 which are held for the purposes stated above. Page 3
The Isabel Blackman Foundation Trustees, Report (eontinued) Risk Management The major risks to which the Foundation may be exposed, as identifled by the trustees have been ffviewed and systems hav¢ been widened to manage and tniligate those risks. Going concern The trustees ¢onsider the Foundation to be a going concern. The Foundation has received many requests for funding throughout the year. Its income has been maintained and it has been able to meet a subslantial number of requests for grants throughout the year from this income. All grants are made bearing in mind the financial limitations of the Foundation. The Foundation continues to request and a¢¢¢pt advice from its professional advisers to ensure that it can continue as a going concern. Page 4
The Isabel Blackman Foundation Trustees, Report (continued) Statement of Trustees, Responsibilities The trnstees are responsible for preparing the trustees. report and the financial statements in arKordance with the United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practi¢¢) and applicable law and regulations. The law applicable to charities 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 consisteDIIy: observe the methods and principles in the Charilies SORP; make judgements ond estimates that are reasonable and prudent. state whether applicable accounting stsndards have been followed, subject to any material departure5 disclosed and explained in th¢ financial statements; and prepare the flnancial slatements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting r¢¢ords that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements ¢omply with the Charities Act 2011, the Charities (Accounts and Reports) Re8ulation$ 2008, and the provisions of the ¢onstitution. The truslees are also responsible for safeguarding the assets of the charity and h¢n¢¢ for taking reasonabl¢ st¢p$ for th¢ prevention and detection of fraud and other iTre8ularities. The annual report was approved by the trustees of the Charity on .1 s . ((! . If.. and signed on its behalf by: rs P H Connolly Chainnan and trustee Pag¢ S
The Isabel Blackman Foundation Independent Auditor's Report to the Members of The Isabel Blackman Foundation Opinion We have audited the financial statements of The Isabel BIKknian Foundation (the 'charity') for the year ended 5 April 2024. which comprise the Staternent of Financial Aclivities. Balance Sheet, and Notes to the Financial Statements, including a summary of Si1r1Cant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Plzctice). In our opinion the financial statements: give a tsue and fair view of the state of the charity's affairs as at 5 April 2024 and of its incoming resources and applicatson of resource4 including its income and expenditure, for the year then ended. have been properly prepared in accordance with Uniied Kingdom Generally Accepied Accounting Practice. and have been prepared in a¢¢ordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Inlernational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the fInancial statements section of our repo We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in accordance with these requirements. We believe that the audit eviden¢¢ we have obtained is sulTicienl and appropria to provide a basis for our opinion. Concluslons relating to going eoncern In auditing the financial statements. we have concluded that the trustees use of the going concern basis of accounting in the preparntion of the financial statements is appropriate. Based on the work we have perfomied. we have not identified any malerial uncertainties relating to events or conditions that. individually or collectively. may cast significant doubl on the charity's ability to conlinue as a going concern for a period of at least twelve nnthS from when the original financial statements were authorised for issue. Our responsibilities and the responsibiliti¢s of the trustees with respect to going concern are described in the relevant sections of this reporL Other inforniation The trustees are responsible for the other infonnation. The other infonnation comprises the infonnation included in the annual reporL Other than the fUkCIal statements and our auditor's report thereon. Our opinion on the fjnancial slatements does not cover the other infornMtion and, except to the extent otherwise explicitly stated in our repo)t we do not express any fonn of assurance conclusion thereon. In connection with our audit of the financial statements our Rsponsibility IS to read the other infonnation and, in doing so. consider whether the other infornialion is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially missLed. If we identify such material inconsistencies or apparent material misstatements, we are required to detem)ine whether there is a material misstatement in the financial statements or a material misstatement of the other infornlation. If, based on the work we have perfonned. we conclude that there is a material misstatemenl of this other infornialion. we are required to report that facL We have nothing to rewt in this regard. Page 6
The Isabel Blackman Foundation Independent Auditor's Report to the Members of The Isabel Blaeknian Foundation (Continued) Matters on whlch we are required to report by exception In the lighi of our knowledge and understsnding of the charity and its environment oblained in the course of the audit, we have not identified material misststements in the Trustees, Repo We have nothing to report in respeci of the following matters where the Charities (Accounts and R¢port) Regulations 2008 requires us to report to you if. in our opinion: adequate accounting records have not b¢¢n k¢pL or returns adequate for our audit have not been reIVed from brdnches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trusiees remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. Respon$lbilitl¢s of trusttts As explained more fully in the Slatement of Trustees, Responsibilities (set out on page 5), the tru5tc¢s are responsible for the preparation of the financial statements and for being satisfied that they gtve a true and fair view, and for such internal control as the trusttts delennine is necessary to enable the preparation of financial ststements that are free from malerial missta¢ememL whether due to fraud or error. In preparing the financial ststements, the Itwlees are responsible for assessing the ¢harity's ability io continue as a going concem, disclosing, as applicable, matters related io going concern and using the going ¢oncem basis of accountin8 unless the trustees either inlend to liquidate the charity or to ¢ease operations, or have no realistic alternative but lo do so. Audltor Respons5bllltles for the ludit ofihe flnancl•l statements Our objeclives are to obiain reasonable Urdncc about whether the financial statements as a whole are free from material misstsiement, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurdnce. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a maierial misslalement 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 economi¢ decisions of users taken on the basis of these financial ststements. The extent to which our pro¢¢dures are capable of detecting iTregulariti¢s. including fraud is detailed below: The legal and regulatory framework applicable to the entity was ¢onsidered as part of the audit planning, a risk assessment was completed and no areas of ¢oncern were hi8hlighted. Enquiries have been rnade of management and those charged with governance of the Charity to obthin understanding of the entity's policie5 and procedures. A review of Board minutes has tsk¢n place. with no Cases of a¢¢ual or suspected fraud highlighted. The audit team remained vigilant for potential fraud and nonwcompliance with laws and regulations throughout the whole audit proces5. The susceptibility of the entity's financial ststements to material misstatem¢nL including how fraud might occur was built in to the audit planned approach using a range of techniques. A further description of our responsibililies is available on the Financial Reportin8 Council's website al: www.frc.org.uklauditorsresponsibilities. This description forn part of i)ur auditor's report. Page 7
The Isabel Blackman Foundation Independent Auditor's Report to the Members of The Isabel Blackman Foundation (continued) Use of our report This report is made solely to the charity trustees, as a body. in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might stat¢ to the trustees those matters we are required to state to trustees in an auditors, report and for no other purpose. To the fullest extent pennitted 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 fornied. Manningtons nior Statutory Auditor) For and on behalf of Manningtons. Statutory Auditor 39 High Street Battle East Sussex TN33 OEE Manningtons is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. Page 8
The Isabel Blackman Foundation Statement of Financial Aclivities for the Year Ended 5 April 2024 Unrestrieted funds Total 2024 Note Income and Endowments from: Charitable activities Inve51ment income Other income 31.450 287.901 965 31,450 287,901 965 Total Incom¢ 320,316 320,316 Expenditure on: Charitsble activities Other expenditur¢ Governance costs (240278) (30.893) (7.831) (240278) {30,893) (7,831) Total Expenditure GainloSseS on investment assets (279,002) 503.630 (279,002) 503,630 Net movement in funds 544,944 544,944 Re¢oneiliatlOD of funds Total funds brought foThvard Total fimd5 carried forward 9,142.130 9,142.130 17 9,687,074 UDrL4tricted funds 9,687,074 Totgl 2023 Note Income and Endowments from: Charitable activities Invesknent income 31J08 279,728 31.308 279,728 Totsl Income 311,036 311,036 Expenditure on: Charitable activities Other expenditure Gov¢rnance costs (188,770) (31,185) (5.550) (188,770) (31,185) 5,550 Total Expenditure GainloSseS on investment assets 225,505 (583,063) (225,505 (583,063 Net movement in fimds (497,532) (497.532) Reconeiliation of funds Total funds brought fonvard 9.639,662 9,639,662 Totsl funds carried forward 17 9,142.130 9,142,130 The notes on pages I 110 24 forni an integral part of these financial statements. Page 9
The Isabel Blackman Foundation Balance Sheet as at S April 2024 2024 2023 Note Fixed assets Tangible assets Investtnents 27,400 9,342,696 27.400 ,839,067 12 9J70,096 8,866,467 Current assets Debtors Cash at bank and in hand 13 14 2,118 325,450 1,475 283,755 327,568 285,230 Creditors: Amounts f811ing due within one year Net current assets 15 10,590 (9,567 316,978 275,663 Net assets 9,687,074 9,142,130 Funds of the eharlty: Unrestrieted ineome funds Unrestricted funds 9,687.074 9,142,130 Totsl funds 17 9,687,074 9,142,130 The financial statements on pages 9 to 24 were approved by the trustses. and authoris¢d for issue on . and signed on their behalf by: .b D Harding Trustee The notes on pages I I to 24 fonn an integral part of these financial ststements. Page 10
The Isabel Blackman Foundation Notes to the Financial Statements for the Year Ended 5 April 2024 l Accounting pollcles Basis of preparntlon The financial statements have been prepared in a¢cordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicabl¢ to charities preparing their a¢¢ounts in accordance with the Financial Reporting SLindard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2015) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The Isabel Blacknian Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recolised ai historical ¢ost or transadion value unless otherwise stated in the relevant accounting policy notes. Colng coneern The trustees consider that there are no malerial uncertainties about the charitys ability to continue as a going concern. Income Investment income is accounted for in the period in which the charity is entitled lo receipt. All other income is included on an accruals basis. Donallons and legacla Donations and ]egleS are re¢ognised on a re¢¢ivable basis when receipt is probable and the amount can be reliably measured. Expendlture All expenditure is recognised once there 15 a legal or constructive obligation to that expenditure, its probable settlement is required, and the amount can be measured reliably. All ¢osts are allocated to the applicable expenditure heading that aggregate similar costs to that category. Charliable acilvlrfes Charitable expenditur¢ wmprises those costs incurred by the charity in the delivery of is a¢tivities and servi¢es for its beneficiaries. Grani PendI1re Grants payable are chaTged in the y¢ar when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject io conditions which have not be¢n met az the year end are noted as a commitment, but not a¢cru¢d as expenditure. Support costs Support ¢osts in¢lude all expenditure not directly related io the charitable activities. This includes costs of runnin8 office premises, administrntion staff salaries and accountancy ftts. Pagell
The Isabel Blackman Foundation Notes to the Financial Statements for the Year Ended 5 April 2024 (continued) l Accounting pollcles (Continued) Governance costs Th¢se include the costs attributable to the charity's compliance with constitutional and statutory requiremen including audit and legal fees. Tangible fixed 9ssets The only tangible fixed Set owned by the Foundation at 5 April 2024 was a freehold property. namely: Stonehenge, 13 Laton Road. Hastings The management of the let flats was undertaken by Meridian Property. 13 Laton Road, Hastings continues to be used for ¢haritable purposes in accordance with the objects of the Foundation. The propety is stated at cost, with no provision for depreciation being made, on the basis that the trustees consider that its market value exceeds its book value. The Foundation also owns a certain amount of office and garden equipmenL The trustees have historically employed a policy of writing off the cost of this otTice and garden equipment in full at time of purchase. FAxed a$$et investments Fixed asset investments are included at closing mid-market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sale proceeds and their market value at the slart of the year, or their subsequent cost, and are charged or credited to the Ststement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during th¢ year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Fund strneture Unrestricted income ffijnds are generdl funds that are available for use at th¢ trustees, discretion in furtherance of the objectives of the charity . Under the temts of its trLLSt deed, the charity consists of two separa* funds the General Fund and the Auxiliary Fund. The General Fund consists solely of the money, investments and property, and the subsequent accumulation thereof. which were given to the Foundation by the late Isabel Blackman. The use of the income from this fund is unrestricted, so long as it complies with the objects of the Foundation, as described in the Trustees, Report. The Auxiliary Fund consists of the money, InvlMents and property, and the subsequent accumulation thereof. which have been received by the Foundation from sources other than Isabel Blackman. Currently. all of the incorne generated by this fimd is unrestricted, so long as it complies with the objects of the Foundation. Page 12
The Isabel Blackman Foundation Notes to tbe Financial Statements for the Year Ended 5 April 2024 (eontinued) l Aeeounting policies (continued) Flnancial instrurnents Cltwification Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are ¢lassified according to the substsnce of the contrn¢tual arrangements entered into. An equity instrumenl is any contract thai evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recogniilon andmeasurement All fjnancial assets and liabilities are initially measured at transaction price (including transaction costs). except for those financial assets Classified as at fair value through profit or loss, which are initially measured at fair value (which is norn]ally the transaction price excluding transaction costsk unless the arrangement constitutes a financing transaction. If an arrangement conslilutes a financing transactio the financial &sset or financial liability is measured at the present value of the future paynts discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are onty offset in the sLment of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity iDlends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled. b) the charity transfers to another paty substantially all of the risks and rewards of ownership of the financial asseL or c) the charity, despite having retained some. but not all. significant risks and rewards of ownership, has transferred control of the asset to another paty. Financial liabilities are deTegniSed only when the obligation specified in the contract is discharged, cancelled or expires. Inveslments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurnble) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured al cost less impairnienL Investments in subsidiaries and associates are measu1 at cost less impaimienL For investments in subsidiaries aquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Falr wilue measuremenl The best evidence of fair value is a quoted price for an identi1 asset in an active market. When quoted prices are unavailable. the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circUmseS or a significant lapse of time since the tran5a¢tion took place. If the market is not a¢tive and recent transactions of an identical asset on their own are not a good estimate of fair value. the fair value is estimed by using a valuation technique. Page 13
The Isabel Blackman Foundation Notes to the Financlal Statements for the Year Ended S April 2024 {continued) 2 Income from charitsble aetivltles UDrestrleted funds Auxlallary Fund Total Total Gener81 Fund 2024 2023 Provision of residential accommodation 31,450 31,308 3 Investment Ineom¢ Unrestrlcted funds Auxllbary Fund Total 2024 Total 2023 Gener81 Fund Dividends and tnterest re¢¢ivable from listed investmenls Interest receivabl¢ on bank deposits 264,956 10,114 275.070 275.070 2,610 12,831 4,658 279.728 275.177 12,724 287,901 4 Expendlture on eharltsble aetlvltles Unrestrleted funds Auxlllary Fund Total Total Ceneral Fund 2024 2023 Grant making Provision of residential accomodation 178,900 178,900 148,800 61,378 61,378 39,970 240,278 240 278 188,770 Page 14
The Isabel Blaekman Foundation Notes to the Financial Statements for the Year Ended S April 2024 (continued) 4 Expenditure on ¢haritsbk a¢tivitiLs (continued) An analysis of the grdnts payable duTing the year is included in note 7. An analysis of the expendihwe in¢urred in the course of providing identIal a¢¢ommodation is given below: Total Total 2024 2023 Rates and water 468 Insurance 1.855 23.707 2.050 22.155 3.455 5,016 3522 {850) 61J78 1,991 15,888 2.050 7.075 8,735 Light and heat Cleaning Repairs and maintenance Garden expenses Legal and professional ftts Agents fees and commission Bad debts 3,381 850 39.970 S Other expenditure UDrestricted funds Allxiliary Fund Total 2024 TotAI 2023 General Fund Support costs 29,893 1,000 30.893 31,185 29.893 1,000 30.893 31,185 The support costs atiributable to the charitsble activities of both wt making and the provision of residential accomodation are £30,893 (2023 - £31.185). Page 15
The Isabel Blackman Foundation Notes to the Financial Statements for the Year Ended 5 April 2024 (continued) 6 Analysis of governance and support costs Support eosts Unrestricted funds Auxiliary Fund Total 2024 Tolal 2023 General Fund Truste¢s remuneration Self employed clerical assistance Rates and water Insurance Light and heat Office repairs and equipment Cleaning Printing, stationery and postage Telephone Computer costs Accountancy Legal and professional fees Bank charges Sundry expenses Trustees dinners Purchase of computer equipment Contribution from Auxiliary Fund to General Fund 21,213 292 21,213 292 444 350 1,434 320 501 890 480 197 4,140 300 90 242 20.952 570 336 967 350 1,434 320 501 890 480 197 4,140 300 90 242 492 353 474 230 3,324 59 500 882 2,046 (1.000 29,893 1,000 30,893 31,185 Governanee costs Unrestrieted funds Auxiliary Fund Total 2024 Total 2023 General Fund Audit fees Audit of the financial statements Legal and profe55ional fees 5,880 1,951 5,880 1,951 5,520 30 7,831 7.831 5,550 Page 16
The Isabel Blaekman Foundation Notes to the Financial Statements for the Year Ended S April 2024 (contlDued) 7 Grant making Analysi$ of grants Grants to institutions Cranls to individuals Analysis General Fund 159,325 19,575 The grants payable during the year were as follows: Education Glyne Gap School Park Road Under Five5 5.000 1.000 5.000 2,600 2,000 17,575 Create Music Lifesize Sacred Heart Catholic Primary School Grants to 10 individuals 33,175 Culture and Recreation Hastings Fat Tuesday Hastings Storytelling Festival Hastings International Piano Hastings Sinfonia Hastings is Everybody Hastings Litfest Christ Church Ore Treasure Seekers Holiday Club De La Warr Pavilion 2,000 2,000 3,000 1,500 400 4,900 615 1,500 3,500 2,000 Westerleigh Judokwai Grant to l individual 21,415 Carried forward 54,590 Page 17
The Isabel Blaclunan FoundatAon Notes to the Financial Statements for tbe Year Ended S April 2024 (continued) 7 Grant making (eontipued) Brought fonvard 54,590 Health SASBAH Fight for Sight The Sarah Lee Trusi 2.000 5.000 3.000 5.000 5.000 2.500 2.0( 1.000 1.000 5.000 2,000 1.000 2,000 450 St John Ambulance Project Art Works KenL Sussex and Surrey Air Ambulance Listening Books Chestnut Tree House Calibre Audio Dame Vera Lynn Children's Charity Dentsid - The Dental Charity Royal Nalional Institute for the Blind Young Lives vs Cancer E&st Sussex Vision Support PBC (UK) Great Orniond Street Hospital Charty British Wireless for the Blind 5.000 .550 2.000 1,000 1.000 The Salvation Arniy CTaftimation Factory British Liver Tnt 50,500 Carried foti¥ard 105,090 Page 18
The Isabel Blackman Foundation Notes to the Finanelal Statements for the Year Ended 5 Aprll 2024 (eontlnued) 7 Crant making (continued) Brought forward 105,090 So¢ial Services Oasis Community Proj¢ct Just Friends 1,500 1,500 1,000 2,500 5,000 2,500 5,000 1,500 5,500 1,500 2,000 4.000 1.000 5,000 6,000 210 Beachy Head Chaplaincy Team Warniing Up the Homeless Doms F(K)d Mission You Raise Me Up East Sussex Re¢overy Alliance Hastings and Rother Furniture Service The Clifton Centre Fare Share Sussex and Surrey Royal Airforce Benevolent Fund Royal National Lifeboat Institution Crnse Bereavement Little Gate Farni Family Support Work The Parish of St Helens Ore and St Barnabas 45,710 Religion Hastings and Rother Inlerfaith Forum 1,200 Environment Ore in Bloom 2,000 900 Proje¢t Rewild Hastings and East Sussex Natural History Society 4,000 6,900 Youth Organlsatlons East Sussex Fire and Rescue Service 5.000 15,000 24th Hastings Scouts 20.000 178,91M) All grdnts were made by the General Fund. Page 19
The Isabel Blackman Foundation Notes to the Financial Statements for the Year Ended 5 April 2024 (continued) 8 Trustees remuneratlon and expenses During the year the charity made the following transactions with trustees: Mrs C S Deaeon Mrs C S Deacon received remunerdtion of £9.720 (2023: £9,600) during the year. D Harding D Harding received remuneration of £11,493 {2023: £1 I J52) durlng the year. Remuneration was paid to the trustees for services provided in accordance with the authority given by the trust deed. No trustees have received any other benefits from the charity during the year. 9 Starrcosts The monthly average number of persons employed by the charity during the year was as follows: 2024 2023 Administrative stsff Page 20
The Isabel Blgckman Foundation Notes to the Financial Statements for the Year Ended 5 April 2024 (continued) 10 Taxation The charity is a registered ¢harity and is therefore exempt from co4)ordtion tax. I l Tangible fixed assets Land and buildings Total Cost At 6 April 2023 At 5 April 2024 27,400 27.400 27,400 27,400 Depreeiation At 5 April 2024 Net book vglue Al 5 April 2024 27.400 27,400 Al 5 April 2023 27,400 27,400 12 Fixed asset investments 2024 2023 Other investments 9.342,696 8,839,067 Page21
The Isabel Blackman Foundation Notes to the Financial Statements for the Year Ended 5 April 2024 (eontinued) 12 Fixed asset Investments (contlnued) Other Investments Llsted Investments Tolal Cost or Valuation At 6 April 2023 Revaluation 8,839,067 503,629 8,839,067 503,629 At 5 April 2024 9,342.696 9 342 696 Net book value At 5 April 2024 At 5 April 2023 Histor1¢ Cost 9,342,696 9 342,696 8,839,067 8,839,067 At 5 April 2024 At 5 April 2023 4,334,760 4,334,760 4,334,760 4,334,760 The charity's investments consist of income and property units in the Charities Official Investment Fund. 13 Debtors 2024 2023 Prepayments Other debtors 52 2,066 49 1,426 2,118 1.475 14 Cgsh and cash equivglents 2024 2023 C&8h in hand Cash at bank Short-term deposits 24 23.620 260,111 20,432 305,013 325,450 283,755 15 Creditors: amounts falling due withln one year 2024 2023 Other creditors 10,590 9,567 Page 22
The Isabel Blackman Foundation Notes to the Flnancial Statements for the Year Ended S April 2024 (continued) 16 Commitments Other flnanelal commitments Within the General Fund is a designated fund of money set aside by the trustees for the payment of grants which have been promised or offered on a conditional basis at the end of the accounting year. The total amount of the conditional grants promised or offered which are not provided in the fJnan¢ial statements was £12,000 (2023 - £Nil). This sum represented one conditional grnnl which has subsequently been withdrawn after the accounting year end. Page 23
The Isabel Blackman Foundation Notes to the Financial Statements for the Year Ended 5 April 2024 (continued) 17 Funds Other recognised Balance at 5 gainsl(losses) April 2024 Balance at 6 April 2023 Ineomlng resources Resources expended Unrestrleled funds General Fund ,770,028 307,592 (278,002) 485235 9,284,853 Auxiliary Fund 372,102 12,724 ( 1,000) 18,395 402,221 Totsl funds 9,142,130 320,316 (279,002 503,630 9,687,074 Other reeognised Balance at S galnsl(losses) April 2023 Balance at 6 April 2022 Incoming Resources expended Unrestrlcled funds General Fund 9,256,063 300,020 (224,500) (561,555) (21,508) 8,770,028 Auxiliary Fund 383,599 11,016 ,005 372,102 Total funds 9,639,662 225 505 311,036 9,142,130 (583,063 Page 24