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 fill￿1claI 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 Cl￿rItY (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 Ca￿StOne 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
B￿lL 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 T￿st 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