Hall's Exhibition Foundation Financial Statements Year ended 31 March 2026
Hall's Exhibition Foundation Financial Statements Year ended 31 March 2026 INDEX Page Nos 'riuslees' Report Statement of Fiiiancial Activities Balaiice Sheet Notes to tliL Balance Sheet Examiiiers report
Hall's Exhibition Foundation Charity Registration Number: 325128 Correspondence Address: The Rouiid HoLise, 131 Lynn Road, Siiettisliam, King's Lynn, Norfolk, PEi17QG Administrator: K Wood The Trustees have pleasure in presentiiigi tlieir TrusteLs' Report and tlie fill1claI statenients of the charity for the year ended 31 March 2026. Statement of trustees, responsibilities Charity law requires tlie Trustees to prepare accoLlllts which give a true and fair view of tlie chai.ity and of its income and expenditULE for the frinancial year. In doingy so the Trustees are required to:_ Select SLiilable accountiiig policies aiid apply theni consistently; Make jiidgyenients and estiinates that are reasonable and pi'udent. Slate whetlier applicable accountiiig standards have been followed, SLibject to aiiy material departlires disclosed and explained in the tiiiancial statenients; and Prepare the tinancial statements on tlie gyoing concern basis unless it is inappropriate to presume tliat the charity will continue in opei'ation. 'rhe Truslees arc responsible for inaintaiiiiiig proper accoiinting i'ecords which disclose witli reasoiiable accuracy at any time the financial positioii of tlie charity and which enable theiii to ensure that the accouiits coniply witli the Charities Act 201 l . They are also responsible for sat"egiiardingy tlie assets ol: the charity tllid hence foL' takiiig reasoiiable steps for the prevention and detection ot" fi'aud id otlier irregyiilarities. Legal status & organisation The F'oLindation is a i'egyistered Charity (Charity Numbei. 325128). Tlie gioverning documeiits of the Foundation are the Schenies of the Cliarity Commissionei"s dated 2 June 1915, 6 September 1974 and 22 September 1987. Princi al Banl<ers Barclays Bank PIC Leicester Investment Advisors BlackRock Investiiieiit Management (UK) Limited 33 KiiiLY William Street London EC4R 9A3 Accountlc nts Mapus-smith & Leminon LLP 48 King Street Kingy's Lynn Norfoll< PE30 1 HE LE87 2BB
Hall's Exhibition Foundation The FoLindation is an unincoi"porated association aiid is administered by dilly appointed 'l'rLlStees who foi. the year ended 31 March 20?6 were as follows:_ Mr E N Stanton (Resigyned 31 May 20?5) Mr P NoiTIS Mi. E Langyf"ord Mr M Wrigyht [Vice Chairniklll] Lady M Poiider (Resigined 31 July 2025) MrAJCave Mi. I Devereux Mr N Madgett (Resigyiied 31 Octobei. 2025) Mr M Howard [Chairnian] Mr P Sheerin The TrLlStees nieet during the yeai. to review and managie the aftairs of tlie FoLiiidation. Incoiniiig TrLlStees air appoiiited by a resolutioii ot.tlie TrLlStCCS Pclssed at a Trustees, meetiiig. Tlie TrLlStees arc responsible for the govei"nance of the ClrItY (2nd LIiSLlI'e that it PLirsues the objects foi. which it was foundLd. Objectives and activities of the charity for the public benefit The objLLt ot.the Foundatioii is lo allocate its incoiiie tor the benetit of Ihe educatioii ot young people in Siiettisliain belweeii tlie agyes of I l aiid 25. Educational &yi'l¢ nls iiiay also be Inade at t11e TrLlStees' discretion to local educational est¢lblisliments wliich serve Siiettisham stLidents, Tlie Trustees liave had regyard to thL Cliarity Conimission's giiidance oli PLiblic benefit aiid liave soug¥ht to ensure tliat all activities undeitakeii IiavL beeii in liiie with tliL chai'ity's objectives. Achievements and performance The Fouiidatioii lias eiijoyed anotlier Sliccessfiil aiid busy year. Thei'e lias been a gyeiieral increase in cippIiLÉltions aLross the rangTL ul" edLIL¢ilional pi'ovibiun thal IhL foiindcilioii SLIPPUI'IS. In tlie acadeniic yeai" 2025/?026 tlie Halls FoLindatioii 92 student8 With gyraiits iii excess of £150,000. Fiiiaiicial SLlPPOI't was provided for l O Educational Trips. l ApprciitiCLship; 18 childreii nioviiiL froni Priniary to Secondaiy Scliool. 31 Students iii FuittliLr Educ(itioii Courses iiicludingy A, level stLidy and 33 Univei'sily SiudLiits 'I'lie F'ouiidation contiiiues to be flilly involved willi supportinLI thc childi-cii iii Ilic vill<1gTL aiid lias every intention of continuiiigT to do so for the foreseeable future.
Hall's Exhibition Foundation inancial Review, Investment policy and Reserves The attaclied documents deinonstrate in financial temis the activities of the charity for the past year. As can bc seeii the Charity lias ali excess of expenses over iiicome in the Clirrent year of £40,J05 coinpared witli an excess of income over expenses £44,173 in the previous year. There are gyaiiis in the year oil investment assets of £194,072 compared with gsains of £76,492 in 2025. The charity retains sufficient reserves to iiieet its indircct chaiitable expenditiire for a period ofr.at least 12 inontlis. Tlie dii.ect cliaritable expenditUL"e is mostly met with Investnient inconie and rent on the carrstone quarry and adj oiiiing land. Reserves policy The Trustees policy is twotold..- all l'oyalties received fi'om the extraction of CaStOne at the Foundation's qLiarry are applied to tlie Pei'inaiient Endownient Capital fund, because the qiiairy is a wasting asset and the Trustees wish lo have established an equivalent assel when the quarry is exhausted, all other incoiiie is available for distributioii to stLidents. In certain years applications for gyrants are iiot sufficieiit to utilise the iiicome and a balance is carried forward, which the Triistees hope wil I be paid OLIt in grants in fLlture years. The Trustees do not wish to have largye flLlCtualions iii the valLie of individLial gyrants from year to yeai. and tlieret.ore appreciate that there will be an undistribiited balance on the Accuniulated Inconie Fund for a number of years. lii tiiiie this fund will be utilised to compensate tor the loss of quai'ry iiicoiiie. Investment polRCy Tlie TrLlStees' policy on investmeiit is a prudent approach which combines: maintenance and, if possible, enhaiicement of the value of invested funds; adequate financial returii. aiid minimisingy risk. To this end the Truslees have appointed iiivestment advisors to managye the investinent of flinds. Fiinds are invested in Charinco and Charishare Distribution Units. The Trustees are satisfied with the transactions of the Foundation and its financial position c2S at 31 March 2026 as sliown in the accompaiiying accouiits. Sigyned Cliairn]an Signed TrLlStee Date:
Hall's Exhibition Foundation Statement of financial activities Year ended 31 March 2026 Notes Accumu14Ited Endowment Fund Fund Total 2026 ?025 Incoming resources Investment incoiiie Bank clnd other intei'est Rent on Cai'rstoiie Quai'iy and adjoining¥ land QLiarry infil I c111d otlier chai'gies Radio Mast l'ent 54,736 70.451 7,761 41,188 35,484 3.619 35.484 3.619 5,250 5,000 Total incoming resourees 110,360 110,360 147,424 Resources expended Admiiiistl'lc tion Expenses AccoLllltancy t.ees Gi<ints approvcd and paid dliriiig yeai.: Indivicllials [less IEpaynientsJ Schools/Org?aiiisations 3,202 4,927 726 147,463 147,463 Total resources expended 150,()65 150,66.f 103 ?.51 Net incoiiiingT resources foi. yeai" l?et'ore other recogynised graiii/(lossLs) (40,305) (40.30.f ) 44,173 Other recognised gains Gai1is1(losses) on invLstineiit assets 7,507 186,$65 194,072 76,49? Net Inoveiiieiit iii funds for tlie year 3aiid4 (3?,798) 186,565 153,767 1?0,66.S
Hall's Exhibition Foundation Balance sheet - 31 March 2026 Notes 2026 2025 Fixed Assets Investinents ? ?70,968 2,076.896 Current Assets BlL balances 360,610 400,790 Current Liabilities Creditoi's and accruals (18,760) (18,63.5) Net Assets 2,612,818 2,459,051 Represented By: Permaneiit Endowinent Flind 1,843,604 1,657,039 Accumulated Incoine Fund 769,214 802,012 2,612,818 2,459,051 Appi'oved by the Trustees on and signed oil their behalf by:" Chaii'inan Ti'ustee Administrator
Hall's Exhibition Foundation Notes to the financial statements - 31 March 2026 Aceounting policies The fIn]cIal statements al'e prepared in accordance with applicable accountingj standards and oli the basis tliat the charity can continLie to operate as a gloingy concern. "rhe Trustees believe this basis to be appropricite as Ilie Foundatioii has Slifficient fund8 available to finanLc its operations for tlie foreseeable fiiture. li) The finaiicial statenieiits of Ihe chai'ity, which is a public benefit eiitity iindei. fRS 102, havL been prepared iii (iLLurdanLe witli th¢ Cliarilies SORP (FRS I O?) ' ALLountin&y (d Reportingy by Charilies: Stalement ot. Recomiiiended Practice applicable to chai'ities prepai'iiig tlieir accouiits in accordance witli the fiiialicial Reportingj Staiidard applicable in thL UK aiid Republic ot Irclaiid (P-RS I O?) (efr'tective l .lanuary 2015), Financial Reportingy Staiidard 102 ' Tlie finaiicial Repoi'tiiigy Slaiidai'd applicablc iii the UK aiid Republic of Irelaiid" aiid tlie ChaL"ilies Acl 2011 . 'fhe finaiicial stateinents Iiave been pi'epared iindei. the historiLal cosl conventioii witli tlie exccption ot iiivcstiiients wliicli are iiILluded al iiiai.kel vallie, (IS InudiliLd by Ihe revciludliun ul" LLrl¢iin abSLIb. iiii) Investinent giains and losses incliide any gaiii oi. loss on the sale of investments and aiiy gyaiii or loss rLsLiltingT troin revaliiiiigy investinents to market valLie dt thL end of.the year. iv) Investmeiits quoted on a recog)nised stock exchangye air valued at market value al tlie year Liid. All iiicome is reLogynised in the Statemenl of Fiiiancial Activities oiice the cliarily lias enliilemenl lo Ihe l LIIILls' il is pi'ob£ible Ihcil the inLomL will bL reLLivLd and (he amoLlI)I can be ineasul'ed i"eliably. vi) Liabilities al'e recogyiiised as expeiiditlire as soon as there is a legyal or constl'LlCtivL obligyalion cominiltiiigy tlie chai'ity to Ihal expeiiditLire. it is probable that a transfer of econoniic beiiefits will be reqLllI'ed in settlement and the aiiiount ot.the obligyalion cali be Ineasured reliably, ExpenditLifc is ic CLOLlllted foi. on ali acci'iial.8 basis and has beeii Llabsil led uiidLr lieadiiigys Ilial £iggFrLgiale all Losl relcilLd lu Ihe LalLbory.
Investments Book value l April 2025 Purchases Book value Mai'kct valuc Markct valuc Change 31 March 2026 31 Marcli 2026 31 March 2025 Rn year Permanent Endowment Charinco Chdrishare 52,682 628,215 52,68? 628,215 36,758 2,111,087 37,428 (670) 1,92J,852 187,2)5 184565 liicome Accumulations chai.inco Chai'isliare 40,000 30,000 40.000 30,000 31,918 91,205 32,499 83,116 (581) 8,089 750.897 750,897 2,270,968 2,076,896 194.072 Previous year 750,897 750,897 2,076,896 2,000,403 76,492 The book value of investments at 31 March 2026 represents the market valiie as at March 1985 with SLibsequeiit additions at cost. In addition to the (ibove fixed asset investments, the Foiindation owns the Snettishani Cai'rstone QLiarry aiid tlie surroLindiiigJ land whicli arose from the benefactors donation many years ago. It is not possible to place a markel value on the qLiarLy as the Trustees have no intention of disposiiigy of il and. in any case, disposal WOLild reqiiire Cliarity Commission appi'oval. In view of this. and tlie Linusual iialui'e of the asset, a t"oriiial valuatioii is iiot coiisidei'ed practiLal oi. Ineaiiiiig)fiil. Consequeiitly the quariy is not sliown iii tlie balance slieet. Permanent Endowment Fund 2026 Balance bi'ou.ht foivard 1,657,039 1,582.971 Gainsl(losses) on investment assets 186,565 74,068 Balance cari'ied forward 1,843,604 1,657,039 Accumulated Income .Fund Balance broubyht forward 802,012 Net movement in funds for the year (32,798) Balance carried forward 769,214
Hall's Exhibition Foundation Independent examiners, report We report on the accounts of the Tst for the year ended 31 Marcli 2026 wliicIi are set out on pagyes 3to7. ,spectivL) rL)spon.iibililiL.s ofirii,s'lLLJ s cind LJxaniinc)r Tlie charity s trustees are responsible foi. the preparation ot. tlie accouiils. The cliarity's trustees coiisider that an audit is iiot requii'ed f"oi' this year (uiider section 144(2) of the Cliarities Act 2011 (the 201 l Act)), and that an indepcndent examinatioii is iieeded. li is our rLsponsibility lo: examine the accouiit8 (uiider sectioii 145 of the 201 l Act), to follow the pi"ocedui'es laid down iii the Geiiei"al Dii'eclions g) iveii by Ihe chai.ity CommissioiiLI's (Liiider sectioii 145(5)(b) ot. Ihe 2011 Acl), and to state whether particular niatters liavc coine lo our atteiition. Ba,s'i,s ()f'indLpL)ndLnl LJxaiiiinL>i',i i'g]?()i'l Olir examiiiation was cai'ried out iii accordance with tlie Genei'al Directions gTiven by thL Cliai'ity Coinmissionei's. Ali cxaniiiiation incliides a review ot" Ihe aLeoLllltiiigy recoi'ds kept by tlie chai'ity and a coniparison of the accouiits pi'Lseiited witli tliose recoi'ds. It (ilso inclLides coiisiderdtioii of aiiy UIILISLial iteiiis or disclosiires iii tlie accounts, and tlie SLekingi of explanatioiis fi'oni you as IrLlStLes concerningy aiiy such inatters. The procedures undcrtalcLn do iiot provide all tlie evidence tliat WOLild be iEqUlI'ed in an aLidit and, coiisequenily, we do iiol expi'ess ali aLidil opinioii on the view giveii by IhL ilLLOLinls. IndLpL)ndLJnl L)xuminL)r,5 51(IlL)N?L)nl In coiiiiectioii with oiir examiiiation, 110 inattei. has coine Io OLII. attention: (i) which gyives Lis reasonable cause to believe that. in any matei'ial respect, tlie trustees Iiave iiot mel the i'equiremeiits to eiisui'e Ihat: proper accoiintiiigj rccoi'ds al'e kept (iii accoi'daiice witli s41 of IliL Act). ancl accoiiiits are pi'epared wliich agyree wilh tlie accoLllltiiigy records and to comply with the accountingy i'eqiiireineiits of the Act. or to whiLh, in OLII. opiiiioil, attentioii should be drawn iii order to enable a proper undei'slaiidingj of the accoLlllts to be reached. (2) ' Li/L4 LzLf Mllpus-smith & Lemmon LLP chaitci.ed Accoiintaiits 48 Kingy Street Kingy's Lynn Norf'olk PE30 IHE Iolk £0 I