Hall's Exhibition Foundation
Financial Statements
Year ended 31 March 2023

Hall's Exhibition Foundation
Financial Statements
Year ended 31 March 2023
INDEX
.Page Nos
TrustCLS' RLPOrt
Stdicincnl ul" Financial ALlivitiLs
BalanLe Sheel
Notes to the Balltnce ShLet
Examincrs report

Hall's Exhibition Foundation
Charity Registration Number:
325128
Correspondence Address:
8 Railway Road, Downham Marke( Norfolk, PE38 9EB
Administrator:
H J Wheal
The Trustses have plcasure in pi'escnting their Trustees, Report and the finanLial statements of the
charity for the year ended 31 March 202.3.
Statement ot trustees, responsibilities
Charily law rcqliircs tlie TrLi8lee8 lo pi'cparc accouiils whicli give a tnic and fair view ot. the ch2( rity
and ol" its iiiLoine aiid expeiidilurc l.or the lini￿L.1￿1 year. In doing so ihe 'l'ruslees are rcquired lo:.
Select suitablc aLLounting poliLies and apply them con.8iStcntly;
Make judgements and estimatc.q ihat are re&8onable and prudent;
Staic whLthLr applicable (ILcounllng￿ sL4ndard8 havL bccn f()Ilowcd, subjLLt to any matLrial
dep(lrturLs disLlo%ed and expl(iined in the financial stdtemcnts; and
Prepare thc finanLial statcmcnts on the going conccrn b￿lS unless it is inappropriate to
prL511lliL ilicii iIiL Lharity will LonlinuL in opLr¢l(iuii.
ThL TrustLL% (ire rLbpon4iblL for maiiitaiiiing propcr (￿Luunting records whiLh ditsclosL with
re&%on4ible accuracy (It any tiiiie the fiiiaiicial p()%ition ot'the chai'ity and which eii<2ble tlicm to en%urc
th<it the accounts comply with the charitie.s Act 2011. They are also responb'Able t'or .safe&yuarding the
a88ets of the charity and hLnce for takingi rcasonable %tep8 f()r thL prevention and dLteLtion of fraud
and other irrcgularitieb,
Legal status & organisation
The FoLmd1¢ tion is a regi.qlered charity (Charity Nuniber _325128). The governing documcnts of thc
Foiiiid<ltiOll (IrL the SLhemL.% of thc Ch<irity Commi&%iunLDi datLd 2 JunL I)( 15, 6 SLytember 1974 and
22 SLptember 1987.
Princi
al Bankers
BarLlay% Bank PIC
42 High Street
HLLnsLuiton
Norfolk
PE36 5AQ
Investmeni Advisors
BlackRock Invesimcnt
Management (UK) Limited
33 Kingi Wllliam Street
London
EC4R 9A3
Accountants
Mapu.s-Smith & Lemmon LLP
48 King Street
King's Lynn
Norfolk
PE30 IHE

Hall's Exhibition Foundation
The Foundation is an unincorporated association and is administered by duly appointed Trustees who
for the year ended 31 March 2023 were as follows:_
E N Stanton
P Norris [Chainnan]
Mr E Langford
Mr M Wrig¥ht tvice Chairn]an]
Lady M PoLthr
AJCave
l Devereux
Mr N Madgett
Mr M Howdrd
Mr P Sheerin
The Trusiecs meet duringy ihe yeiW io review and mdnagc the afrTairs of Lhe Foundaiion. InLoming
Trustcc% arc appoinled by ci resolulioii of the Tru%Lce% pa%%ed at a Tru.qtees' mccting. Thc TrtistCC8
re.spon%ible t.or the govcrnance of the charity and ensure thtit it pursues thc objects for which it W¢lS
founded.
Objectives and aL'tivitics of the charity for the public bL'llL,fit
TIIL objLLt ofiliL Foiiiid<ilii)n 1% to (illocatL its inLomL lor thL' ben¢fit of the cduLcltion of young people
in Snettisham betwcen the age% ot" I l and 25. Educational grants may also be made at thc Trusiccs,
disLrcti()n to lucal cduLalional Lstablishmcnls which %erve 8nclti%hain 8tLiclent8.
The TiustLis hiive li¢id rLglill'd to iliL Chdi'ily Cvminissi()11's giuidJiicc ()n publiL bLnefit and have soughi
lo cii.4urc ihat all a¥tivities undertskcn h<ive bccn in linc with ihL ch(￿lly'S objeclivcs.
Achievemcnts and pcrformance
AftLr two Yea￿ of C,ovid 19-rL'l<ltcd rc%lrictions thc Foiindation has cnj()ycd a comparatively
nornial year. There was a sin¢111 inLrea8e in the number of students going to Ulliversity alld (Ilso
thosc at 16-1. sludying7 lor A l¢vLls, w()rk-basLd traiiiingT coursLs and apprcnliLcships.
Thc Id'ound<ltioii h<lS bcen lully iiivolvcd with %Lipporliiigv Ilie childrcn in thL vill(tgVL <ind has evcry
intcnti()n ofconlinuing to do so for thc foreseeable futurc.
c.hris Flolt r¢tirLd as Administrat()r at the last meetin&1 of thL' year. ThL' trustees w()uld like to
record Iheir appreLiation and gratitudc tur thL many ycars ol" &iLrviLc hL gavL lo thc Foundation
ancl Lo IhL LhildrLii ol" SnLILisliam. ThL IruslL'LS wLILI)mL Mr% I lilary WIILal as his &>uLcc%sor and
are lookiiig t"onvard to working with hcr.

Hall's Exhibition Foundation
Financial Revieiv, Investment policy and Reserves
The attached documents demonstrate in financial temis the activities of thc charity for the past ye¢￿.
As C<UI bc scLn the Charity has an exLess of incomL over cxpenbes in thc currenl year 01" £44,169
comparcd with an cxce%s of £23,326 in the previou&* year. There <WC1088cs in the year on invLstsncnt
assets of £31,638 coinpared with a gain ot"£128,058 in 2022.
The charity retains sufficient reserves to meet its indircct charitablc expenditure for a period of at least
12 moiitli4. ThL dirLLt charitable expenditurL is mo&ytly met with InvcstmLnt Iiicome and rL"nt on th
carrsione quany and adjoining li￿d.
Reserves policy
ThL Trustccs, policy is twofold:_
all royaliics rcLLivLd troin ihL L'XtrLILlion ol" carr%tonL ai ihc foun(l(ilion'% quarry (IrL' applicd Lu
the Pennanent Endowment Capital Fund, because ihe quarry is a wasting asset and the Trustees
Wi8h t() havc c%l(ibli%liLd dn Cquiviilcnt a8sct whcn Ihc quiirry 1% cxh(iU%tcd
all ()IhL'r inLI)mc is availablL lor distribiition lo studLnls. In Lcrtain yL<irs uppliLations for gr￿ll
are nol 4ufficiciil lo ulilisL tlic iiicome aiid a balanLL 14 LarriLd lorw¢ird, whiLh ihL Tru%tLL% hopL
will bL paid out in grdnis. iii lulure ycars. The I ru%lccs do not wi,sli lo have Idrgc Ilucluations in
Ihe valuc of individual Lyrdnts Irom year ti) ycar and ihcrct.ore apprcLiate thal tlierc will bL ¢in
undistributcd balantie on the Accumulated Income F und for a number of years. In time this fund
will bL iitiliscd to Lompciis1£ tc t'or thc loss of quiirry inLomc.
I nvestment policy
The Truslees, poliLy on iiive,%tmciit is a prudenl approaLlI which combine%:
miiintcnanLL and., if possiblc, enhanLeincnt ol, the valuc of invesled funds.
adL'qLialL l iiiancial rclurn. <llid
minimisingy ri?>k.
To this cnd the TrusteLS havc appointed invcstment advisors to managc the investmcnt of funds. Funds
are invesleLI in Charinco CharIsh<￿e Distributioii Uiiits.
The T￿￿teeS are satisfied with the tran4aciions of the Foundation and its tinancial position as at
31 March 2023 as shown in the accompanying accounts.
Signed
chairni￿l-
Signed
Trustcc
Date..
{ E- d LLbJ Z<)z.[

Hall's Exhibition Foundation
Statement of fjnancial activities
Year ended 31 March 2023
Notes
Accumulated Endowment
Fund
Fund
Total
2023
2022
Incomin2 resources
Inve8tmLnt incom¢
kjiiiik dn(I Iiih¥r inlLrest
Rcni on Carrsione Quury and adjoining land
Qu<in'y infill ¢inil oiher ¢h4ioyes
Radin Musl ￿nt
()IhLr- IIK POWLI. Nctwcirk
Otlicr- M¢l:aughcrty Donktlion
66,443
1.6x2
25,181
41,043
5,000
58,665
41)
25,181
1,6X2
25,l8l
5,000
Totul Incominx resourL'e
13l),349
13(),349
l)8,237
Resourcey Lxpended
Adniinistralion E,xpenses
ALLuunlanLy
Qyranls approvcd and paid diiring year'.-
Iii(IiviLliial.% IILS4 I-LPilytllLiI151
Sclioolslorgunisulions
Prolossion411 I'ie8
5.720
620
5.720
620
4.186
7011
8%,840
811.840
70.025
Total resourees expended
)5,180
74.1)1 I
Net inconiinb) rc'%ourcc8 ffyr yCc2r bLtore
othLr rccogi)i%cd LTU1￿(li)￿Isc￿j
44,169
44,169
23,326
()ther recognised galns
G&iiiI￿(lv.5SUtsj uii invLslmLiII a%s¢L
(Ci,527)
(25,101) (31,628) 128.058
Net movLYncnt in fundty for ihe year
3and4
37.642
(25.101) 12.541 151,384

Hall's Exhibition Foundation
Balance sheet- 31 March 2023
Notes
2023
2022
Flxed Assety
Investhcnts
1.947.636
1,979,2C)4
CurrL'nt As&¢'t$
Bank biildll¢¢S
Deblot8
321,174
266.002
Current Llabllitie&
Crcdiiors and accrulls
(18.635)
(18.635)
NLt Assets
2,250,175
2,2.37,()34
Represented Ily:
PcrmanLnl Bnd()wmeiit Fiiiid
1.531.996
1,557,097
Accumiilalcd In¢oine Fund
7111,179
680,537
2.250.175
2237.6.14
ApprOvl￿ by thL frusteL% .
.lliid si&inLd (bn thLir bLhalf by:"
Chainnan
Truslce
Adminii
or

Hall's Exhibition Foundation
Notes to the financial statements - 31 March 2023
Accounting policies
The fin<inLial statements Lire PTepared in accordance with appliciible accounting StI￿dardS and
on the basis that the charity can continue to operate &8 a going concern. The Trusteeg belicvc
this basi8 lo bc appropriate ag the Foundation has Sufficient fund8 available lo finance ilg
operations t'or the foresceable tuture.
The financial 8tstL'ments of the charily, which is a public bcnefil cntity undcr FRS 102,
havL bLcn prLpurL'd iii ilLL(IrdanLL willi thL C;hariliL% SORP (14llS 102) ' ALLouiitingi iiiid
RL'portiiig by C,hariiics'. Statcnicn.i ofRccoinmended Practice applicable to charities
prcpariiigy Ihcir aLLounls iii accordance with thc b inancial Reportin&y Slandard applicable
in the IJK an(1 RLpublic of Ireland ( FR8 I02) ( effective l JanLiary 2015), Financial
Reporting Standard 102 ' Thc Financial Reporting Stand(ud applicablc in the U K and
RL'piibliL of IrLland" ¢md ÈhL C,haritics ALt 201 l. Thc financial statLmLnls havc bLLn
prcp<ll'Ld undcr the histOriLiil cost convcntion with ihL cxLeplion of invibtinents which arL'
iiicludcd al markct V<iluc, as Inodificd by LhL' rLviilu<ltion ofLLrtaiii ÉlS,%Cts.
iiii) Invcstmcnt gains¢ 1 nd losses include any gyid in or luss on ihc %iilc of invcstiMLnts and <iny gain
or108s rLsultingT from revaluing investmcnt4 to markLt value at the end of the year.
iv)
IiivL%linents quotL'd On a rccobTniscd sL()Lk Lxcliangc arc Viilucd at markct value at thc y￿r Lnd.
All inL()me is rcLogiiiscd in the Slalcmeiit of14inaiicirfil ALtivilics ()nee ihe Lhiwily has
entitleincnt to the funds. it is probabl¢ that the incomc will be rcceived and the amount
Lan bl. mcasurL'd rLli<ibly.
vi)
Liabililics <irL rcco&Tniscd as LxpcndilurL a% %voii as ihLrL is a ILb<il or Lonstruclivc
obligatioii coinmilliiigv ihc charily lo tliaL expcndilurc, it 18 probal)le Lliat a trail81 cr of
cconoiniL benclits will bc required in seiilciiienl and the amouni ol. thc oblibyation can bc
mLa%urLd rLliahly. ExpL'nditure 1% acLountLd for on an aLcruals basis and has bel'n
classified under heading8 that aggregate al I cost relutcd to the category.

Investments
Book vallle
l April 2022 Purchases
Book value
Market value
Market value
Change
31 March 2023 31 March 2023 3J March 2U22 in year
Permanent Elldow￿ent
Charinco
Charisharc
52.682
628,215
52.682
628,215
3LI.864
.797,373
45.462
(6,598)
1.815,876 (18,503)
(25.101)
Illcome Accumulation
Lh<irinc()
Charishare
40,000
30,000
40,O(111
30,0011
39,475
7%,4.51
(5,7211)
(7(}())
77.652
750.R97
7.50,X()7
1 ()47.636
1.979,2CA
IC),$271
PrL'viuu% yknar
750,%97
7511,1197
1,979,264
1,851,21)6 1211,0511
Thc book V<iluc of iijvcslment% at 31 Miirch 2021 rL'preseniS ihe mdl.kct value as ai M(irLh 1985 with
sub4cqucnt add.ilioiis at cost.
In addition to the abovc fixcd asget invcstmLnts, thc Found<ition owns the Snettisham Carrstone
QuLifry cond the %urrouiidiTJgF IIL nd whiLh aro%L' frc)m the bLnLfactOPi d()nation Inany year%. aLI(). It 1.%
not pos.%iblc to plaLL a market valuc on the quarry as thc Tnislcc% have no intcnlion of disposing of
il ￿]d, in any LilSL, di%po,sJl woiild rLquirL Charity Coinmi%sioii approval. lii viLw ol. Iliis, <iiid ih
unusual nature of the asset, a fonnal valualion is nol Considered praclical or meaniiigful.
CoiigequcnLly ihe quarry is nol showii in the baldnLe %hcct.
Permanent Fndowment Fund
2023
2022
BalanLL br()u¥hi lonv￿￿
1,557,097
1,431,432
(iain81(lok%c.8) on illvr51JnLlIt assets
(25,101)
125,665
Balance carriLd fiTrrwgrd
.531,996
1,557.097
AcLumulated Income Fund
Balance brought fmvard
680,5.37
Net movemcnt in funds fur the year
37,642
B21allce carriLd furward
718,179

Hall's Exhibition Foundation
Independent examiners, report
We report on the accounts of the Trust for the year ended 3 l March 2023 which are set out on pages
3to6.
Respective responsibilities of in4Stees and examiner
The charity's trustees are responsible for the preparation of the accounL8. The charity'% tru8tee8
consider that an audit is not required for this year (under section 144(2) of the Charities Act 201 l (the
201 l Act), and that an ind¢pendent examin<ltion is neL,ded.
It 1% our responsibilily lo..
examine the accounts (under section 145 of the 201 l Act,
io follow the procedures laid down in tbe Gencral Directions given by the Charity
Commi88ii)ners (undLr seLtion 145(-5)(b) of thc 201 l Act, and
to state whether partiLular matter8 have come to our allcntion.
B(J,%i,s ol'inilcpendL>nl examiner.% 'rcJport
My Lxamiii(Ilion W<L% C(IrriLd out in accordaiiLC With thL GLnLrdl DirLctions giivLn by thc Charity
Coinmissioners. An examination includcs a revicw of Ihc accouiiting records kept by the charity and
a comparison of the (￿LounL8 presented wilh those records. It also inLludLs con.qidcration c)r any
unusual itcms or disclosures in tlie accounts, and the sceking of explanations froin you as trust¢es
concerning iWy such matters. Thc procedures undertaken do not provide dll the LvAdenLL that would
bL rcquircd in an audit and, conscquLntly, WL do not cxprcq% an audil opini()n on thL view givL'n by
thc acLounts.
Indeijcjndent examiners'.flatement
In L'i)nneLtion with our examination, no matter ha% Lome to our attention:
(i)
which gFives us rea8onablc Lduse to believc that, in i￿Y matcrAal rL'spect, the tru%tccs have
nut MLI thL' rLciuirLmLnt% to LnsurL that:
proper accounting reLord% are kept (in accordance wilh s41 of the Act); and
accounts are preparLd whicli agi'LC with thL' aLcounting rLLords and to c()Inply
with thc accounting requi remcnts of thL ALt' or
to which, in our opinion, attention should be drawn in order to enable ti proper
undLrsLu]ding of (IIL aLcvunts to bc rc(ILhLd.
(2)
.JwhdU I ni
J W Hall FCA FCCA
Mapus-smith & Lemmon LLP
Chartercd Accountants
48 King Street
King's Lynn
Norfolk
PE30 1 HE
Date.