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2022-03-31-accounts

Charity Registration No. 326839 Company Registration No. 01890971 (England and Wales)

THE HOBSON CHARITY LIMITED

DIRECTORS’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

THE HOBSON CHARITY LIMITED

CONTENTS

Page
Legal and Administrative Information 1
Directors’ Report 2 – 6
Independent Auditor’s Report 7 – 10
Statement of Financial Activities 11
(including an income and expenditure account)
Balance Sheet 12
Statement of Changes in Equity 13
Statement of Cash Flows 14
Notes to the Financial Statements 15 – 43

THE HOBSON CHARITY LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Charity Status Registered in England and Wales Charity Registration Number 326839 Registered Office Suite 104 6 The Broadway Mill Hill London NW7 3LL Correspondence Address PO Box 57691 London NW7 0GR Company Registration Number 01890971 Trustees and Directors Lady Patricia Hobson OBE (Chair) Deborah Hobson Jennifer Richardson Elizabeth Kelsall Emma Cook Administrator / main contact Mark Turner Website www.hobsoncharity.org.uk Bankers Lloyds Bank Plc 39 Threadneedle Street London EC2R 8AU Auditors Lewis Golden LLP Chartered Accountants and Statutory Auditors 40 Queen Anne Street London W1G 9EL Solicitors Edwin Coe LLP 2 Stone Buildings Lincoln’s Inn London WC2A 3TH Investment Advisors Sarasin & Partners LLP Juxon House 100 St Paul’s Churchyard London EC4M 8BU

-1-

THE HOBSON CHARITY LIMITED

DIRECTORS’ REPORT FOR THE YEAR ENDED 31 MARCH 2022

The directors are pleased to present their report together with the audited financial statements of the charitable company (“the charity”) for the year ended 31 March 2022, which also represents the trustees’ report which is required to be prepared by Part 8 of the Charities Act 2011.

The directors of the charity are its trustees for the purpose of charity law, as set out on page 1, and throughout the financial statements are collectively referred to as the trustees.

The financial statements have been prepared in accordance with accounting policies set out on pages 15 to 17 and with applicable United Kingdom accounting standards, current statutory requirements, the Charities Act 2011, the Companies Act 2006 (Charitable Companies), 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), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (‘FRS 102’) and the charity’s governing document. Legal and administrative information set out on page 1 forms part of this report.

Objectives and activities for the public benefit

The Hobson Charity was founded in 1985 and was established to achieve the following objectives:

The trustees will consider applications for grants which are in accordance with the stated objectives of the charity and:

Exceptions to these principles are only considered in (very) exceptional circumstances.

In the short-term, the charity carries out its objectives by making grants to a wide range of charitable causes as quantified in note 5 to the financial statements. The charity aims to distribute grants to those charitable organisations that the board of trustees decide are in line with the objectives of the charity. By providing such financial support the charity seeks to enable other charitable organisations to achieve their objectives.

The trustees’ long-term aim is to maintain total funds at a level which will generate investment income to fund future grant making at a level of approximately £1.2m per annum in perpetuity. In the current year, the charity achieved total investment income of £1,383,608 (2021: £1,430,103). The Charity had been staggering its reinvestment plans to spread its risk exposure, becoming fully invested in the final quarter of the financial year. Under the Memorandum and Articles of Association, the charity has the power to invest without any restrictions any monies of the charity upon such investments and in such manner as may from time to time be expedient.

THE HOBSON CHARITY LIMITED

DIRECTORS’ REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

Objectives and activities for the public benefit (continued)

The trustees confirm that in accordance with section 17 of the Charities Act 2011, they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning their future grant making activities.

During the year ended 31 March 2022, the trustees aimed to distribute a minimum of £1,200,000 (2021: £1,200,000) in grants. In March 2020, due to Covid-19, the trustees decided to consider and prioritise urgent applications from ‘frontline service’ charitable organisations. The section ‘Achievements and performance’ below contains further details of grants made during the year.

Achievements and performance

During the year the trustees approved 217 grants totalling £1,457,701 (2021: £1,590,702). Of this total, £823,055 (2021: £563,385) falls due for payment in future years. This was more than the charities’ objective for the year due to the large number of applications held back from the prior years. The following table puts the charity’s grants for the year into broad categories and shows the prior year for comparison. Full details of the grant recipients are set out in note 5 to the financial statements.

ut in note 5 to the financial statements.
Category 2022
Amount
£		 2022
Number
of grants		 2021
Amount
£		 2021
Number
of grants
Animals 28,870 5 610,444 39
Bereavement 16,000 2 1,200 1
Cathedral 3,000 1 3,500 1
Community 205,222 30 172,609 32
Disability 254,748 42 149,862 35
Domestic Abuse 17,000 3 6,584 2
Education 2,800 1 24,200 7
Elderly 18,870 4 32,340 11
Environmental 22,006 5 3,000 1
Family 7,998 2 13,808 3
Health & Wellbeing 25,683 6 14,222 5
Homeless 59,672 9 35,281 9
Hospice 179,451 20 98,631 18
Life-Limiting 13,000 2 8,765 3
Medical 186,321 21 99,125 15
Mental Health 64,337 8 57,500 5
Museum 67,710 7 - -
Music 62,300 7 30,000 1
Poverty 70,417 17 27,255 8
Rehabilitation 2,000 1 5,600 1
Rescue 34,727 6 5,950 1
Social Care 4,000 1 - -
Theatre 25,000 1 11,500 2
Veterans 10,000 2 82,600 7
Youth 76,569 14 96,726 12
Total of grants approved in year 1,457,701 217 1,590,702 219
Less: grants cancelled from previous
years		 (69,408) (45,945)
Total 1,388,293 1,544,757

THE HOBSON CHARITY LIMITED

DIRECTORS’ REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

Achievements and performance (continued)

During the year 217 grants (2021: 219) were awarded to 216 different beneficiaries (2021: 217) in furtherance of the charity’s objectives.

The charity received investment income (net of the managers charges) of £1,214,519 from Sarasin & Partners LLP Investment Fund (2021: £1,274,002) the decrease is as expected.

The charity received interest of £6,157 (2021: £5,174), incurred governance costs of £87,589 (2021: £93,347) and investment management fees of £162,932 (2021: £150,927).

The trustees invested a further £1,566,606 (2021: £133,220) in the current year into the portfolio held with Sarasin & Partners LLP. The fair value of the investment portfolio at the balance sheet date was £41,522,136 (2021: £38,677,440). The trustees believe this portfolio is adequately diversified and will provide beneficial investment returns in the future.

Financial review

The charity’s activities resulted in net outgoing (2021: incoming) resources on the Unrestricted Income Fund for the year of £255,206 (2021: £891,072).

The total amount received during the year into the Unrestricted Income Fund was £1,220,676 net of the investment managers charges (2021: £1,279,176). The usual principal funding sources of the charity are the income from the investments and bank interest. Donations received amounted to £nil (2021: £1,250,000). These sources generate enough income to enable the charity to meet its objectives. No transfers were made from the Expendable Endowment Fund to the Unrestricted Income Fund. The Expendable Endowment Fund increased by a net amount of £812,449. This was made up of an increase of the unrealised gain of £812,449 (2021: £6,740,801) on the Sarasin & Partners LLP Investment Fund. The charity holds an expendable endowment fund to ensure the aims of the charity can be met in perpetuity.

As at 31 March 2022 the charity had total funds carried forward of £47,673,325 (2021: £47,116,082).

The trustees consider the risks associated with the assets in which funds are held and aim to maintain an appropriate mix of assets in order to realise the long-term aim.

Reserves policy

The trustees have been holding previous years underspent income during the transition from property to equities as a buffer to ensure that there are sufficient funds to donate. The trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that support and governance costs are covered. Part of the accumulated unrestricted fund has been used to fund the £36m of long term investment portfolio to ensure ongoing operations in perpetuity.

The balance held as unrestricted funds at 31 March 2022 was £19,087,208 (2021: £19,342,414), of which £3,085,860 (2021: £3,407,832) are regarded as available reserves.

Plans for future periods

At the time of writing, the trustees are continuing focusing their attention to urgent Covid-19 related applications from ‘frontline’ service charitable organisations as well as prioritising applications for urgently needed equipment or other specific items.

The charity is a paperless organisation, the trustees have developed an online application portal, any potential applicants are advised to visit the portal found at www.hobsoncharity.org.uk for up-to-date availability of funds and advice on how to apply. The portal is managed by the administrator, Mark Turner who can be contacted by email at post@hobsoncharity.org.uk or if email is not possible then to the correspondence address PO Box 57691, London, NW7 0GR.

THE HOBSON CHARITY LIMITED

DIRECTORS’ REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

Plans for future periods (continued)

Grant applications must: be consistent with the charity’s objectives; exclude core costs, people or salary costs; and include the project details, a detailed budget and the most recent year end financial statements.

The trustees intend to distribute a total of approximately £1.2m from the unrestricted funds during the year ending 31 March 2023 and to review how the charity’s grants have been applied by the recipients of previous donations and grants and progress made by projects that the charity’s funding has made possible.

The trustees continue to work with their investment advisors Sarasin & Partners LLP in seeking alternative appropriate investment opportunities. During the year, the charity reached their target investment holding with Sarasin & Partners of £36m.

The trustees are confident that through a combination of different income streams, they will receive sufficient income to enable the charity to meet its objectives.

Covid-19 has not had a significant impact on the Charity. The trustees have determined that there is no material uncertainty that casts doubt on its ability to continue as a going concern. The trustees expect that Covid-19 might have some impact, though not significant, for example, in relation to expected future performance, or the effects on some future asset valuations.

Structure, governance and management.

The Hobson Charity Limited is a company limited by shares and a registered charity governed by its Memorandum and Articles of Association.

The charity may by ordinary resolution appoint a person who is willing to act to be a trustee either to fill a vacancy or as an additional trustee. Subject to Article 31, a trustee may be appointed under the Memorandum and Articles of Association to hold office for life or any other period or upon such terms in respect of their retirement as the trustees shall at the time of their appointment determine. Any person may be appointed or elected as a trustee, whatever may be their age, and no trustee shall be required to vacate their office by reason of their attaining or having attained the age of seventy years or any other age.

The trustees have considered the recruitment, appointment and training of new trustees. They agreed that any new trustee would have to be reputable, professional and be selected based on their suitability for the role. Training in financial accounting should be a requirement, although this would be dependent on the experience and knowledge of the trustee. Training in the role and responsibilities of a charity trustee would be mainly in the form of publications available from the Charity Commission. Any queries would be addressed to relevant professional advisors as required. As part of the induction process, new trustees are familiarised with the charity’s governing document.

All trustees give their time freely and no trustee remuneration was paid in the current and prior year.

Decisions are made by the trustees with regards to grant making and other areas, with the consent of all trustees at board meetings.

Principal risks and uncertainties

During the year the trustees have undertaken a risk assessment. The assessment helped to identify the major risks to which the charity is exposed.

The principal risk and uncertainty for the charity is that not enough income is generated in order to award grants and cover any governance costs. The charity holds a mixed portfolio of investments and the trustees have established a system to review major risks and to mitigate those risks by regularly reviewing the portfolio. The exposure of the charity to price risk, credit risk, liquidity risk and cash flow risk from holding its investments is therefore limited.

THE HOBSON CHARITY LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED) Reference and administrative inforniation The reference and ajministrnkn.ve irrfomiolM)n set out on p4e 1 of foms part of this report. Tho trustaas who garvod during the year are shtsvm on pagc 1 of this report. Statement of trustees. responsibiliti8S The ttuslees (who are also the difectots for Ihe purpose of company lawl are re5ponsitsle tor prepanng the Annual Report and the finan￿al statements in accordan￿ wth applicab￿ law and regulations. Company law requires the Irus1￿ lo prepafe financial statements for each financial year. Under that law the trustees must PTepare the financisl statomats In accordanca wrth United Kingdom Generally Acccptcd Ac¢o¥nting Practice Ivniled Kiiigdoi7i AcwuiTliiiy Sl<iid<aiQb ¢iiid stpgR h2vetakg.n advgntage ofthe small Compan￿ ￿￿mption providsd by #•¢tion 415A of the Compan￿3 Act 20C6'. The trustees athhorise the Directors, Report. By order of the trustees pkn_ 46b.-. Lady Patricia Hobson OBE Trnstee Emma C¢x Tru$t99 Jennrfer Richardson Trusts• Dale. [I,12oLL

THE HOBSON CHARITY LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HOBSON CHARITY LIMITED

Opinion

We have audited the financial statements of The Hobson Charity Limited (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities (including an income and expenditure account), the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows and related Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in Directors’ Report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

THE HOBSON CHARITY LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HOBSON CHARITY LIMITED (CONTINUED)

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 6 the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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 economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We tailored the scope of our audit to ensure that we performed sufficient work to be able to give an opinion on the financial statements as a whole. We used the outputs of a risk assessment, our understanding of the company, its environment, its controls and critical business processes, to consider qualitative factors in order to ensure that we obtained sufficient coverage across all financial statement line items.

THE HOBSON CHARITY LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HOBSON CHARITY LIMITED (CONTINUED)

Auditor’s responsibilities for the audit of the financial statements (continued)

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. In identifying and assessing risks of material misstatement in respect of irregularities including non-compliance with laws and regulations, our procedures included but were not limited to:

We also considered those other laws and regulations that have a direct impact on the preparation of financial statements, such as the Companies Act 2006 and the Charities Act 2011 .

Our procedures in relation to fraud included but were not limited to:

The primary responsibility for the prevention and detection of irregularities including fraud rests with both those charged with governance and management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor’s Report.

THE HOBSON CHARITY LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HOBSON CHARITY LIMITED (CONTINUED)

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditor’s Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Moss (Senior Statutory Auditor) For and on behalf of Lewis Golden LLP, Statutory Auditor 40 Queen Anne Street London W1G 9EL

Date: 8 December 2022

THE HOBSON CHARITY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Notes
Unrestricted
Income
Fund
2022
£
Income from:
Voluntary income - donations
2
-
Investment income
3
1,383,608
Total
1,383,608
Expenditure on:
Raising funds:
Investment
management fees
4
(162,932)
Charitable activities:
Grant making
5
(1,388,293)
Governance costs
7
(87,589)
Total
(1,638,814)
Net income and net
movement in funds before
gains and losses on
investments
(255,206)
Gains on investments
10
-
Net movement in funds
(255,206)
Reconciliation of funds:
Totals funds brought
forward
15, 16
19,342,414
Total funds carried forward
15, 16
19,087,208		 Expendable
Endowment
Fund
2022
£
-
-
-
-
-
-
-
-
812,449
812,449
27,773,668
28,586,117		 Total
Funds
2022
£
-
1,383,608
1,383,608
(162,932)
(1,388,293)
(87,589)
(1,638,814)
(255,206)
812,449
557,243
47,116,082
47,673,325		 Total
Funds
2021
£
1,250,000
1,430,103
2,680,103
(150,927)
(1,544,757)
(93,347)
(1,789,031)
891,072
6,740,801
7,631,873
39,484,209
47,116,082

The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming resources and resources expended are derived from continuing activities.

THE HOBSON CHARITY LIMITED BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Notes Fixod assets Investm¢nts io 41,522.136 38.677,440 Current assets Debtors Cash at bank and in hat)d 532,6C6 8,682,249 7,£44,426 7.278.948 9,214,855 Creditorn: amounts falling due withln one year 12 {1.018.9341 1665,8631 N&t ¢iFrrent assets 6,260,014 8.548,992 Total assets le98 current liabilities 47,782.150 47,226,432 Credltoys: amounts falling due after more than one year 13 1108.8201 1110.3451 Net assets 47.673.330 47,116,087 Ropresentod by:_ Called up share capital Unrestrict& Income Fund Exy¢iid£itsltr Ei1dowtne￿t FurKJ 14 16 10 19.081,208 28.586,117 19,342,414 27,773,666 Totsl Funds 47,673.325 47,116,082 Ngt assets 16 47.673,330 47,116,087 These finaneial sL7tements have been prepared in acCOrdar￿ with the speaal pThisions of part 15 of thè Companies Act 2006 relating to small companies. The financial statements were approved and 8uthorised for issue by the board of trustees on ...... ... P,Ic 46Lso 41 fRdu Lady Patricia Holkon OBE TTUSte8 Emmayook Trustee Jennifer Richard30n Trustee {Company Regisiered No. 01891)971 {England & Ylale5}1 {Charity RÈgistered No. 3268391 12-

010 oc t7373 orLcO (o zz(o mzzm

THE HOBSON CHARITY LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Cash flows from operating activities
Net movement in funds
Adjustments for:
Unrealised gains on investments
Deduct interest income shown in investing activities
Deduct other investment income shown in investing activities
Movement in liquid assets
Decrease / (increase) in debtors
Increase in creditors
Net cash used in operating activities
Net cash flows from investing activities
Interest income
Other investment income
Purchase of investments
Net cash (used in) / provided by investing activities
(Decrease) / increase in cash and cash equivalents in the
year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2022
£
557,243
(812,449)
(6,157)
(1,377,451)
(465,641)
498,084
351,546
(1,254,825)
6,157
1,377,451
(1,566,606)
(182,998)
(1,437,823)
8,682,249
7,244,426		 2021
£
7,631,873
(6,740,801)
(5,174)
(1,424,929)
19,365
(250,599)
101,152
(669,113)
5,174
1,424,929
(133,220)
1,296,883
627,770
8,054,479
8,682,249

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THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.1 Basis of preparation

The charity is a public benefit entity.

The financial statements are prepared under the historical cost convention and in accordance with 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) – (Charities SORP (FRS 102)), the Companies Act 2006, the Charities Act 2011 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

1.2 Income

(iv) Bank interest receivable

Interest is recognised when receivable by the charity and represents treasury and bank interest.

1.3 Expenditure

This comprises investment management fees which are recognised on an accruals basis. Any irrecoverable VAT is added to the related expense.

(ii) Grant making

Grants are accounted for in full in the period the grants are approved and the decision is notified to the recipient irrespective of the period covered by the grant. Grants awarded but not yet paid are recorded as grant commitments in the Balance Sheet. Grant commitment creditors are split between creditors amounts falling due within one year and creditors amounts falling due after one year according to when the grants will be paid (see note 6).

Governance costs include external audit and accountancy fees, staff costs and legal and professional fees. Governance costs are recognised on an accruals basis. Irrecoverable VAT is included in the cost of those items to which it relates.

1.4 Listed investments

Listed investments are stated in the financial statements at fair value. Realised gains and losses on the sale of investments are calculated as the difference between the sale proceeds and the original cost. Unrealised gains and losses represent the movement between fair values. Realised and unrealised gains and losses are included on the face of the Statement of Financial Activities (including an income and expenditure account). Listed investments are held primarily to provide an investment return for the charity.

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THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

1 Accounting policies (continued)

1.5 Funds

The charity maintains an Unrestricted Income Fund, which includes a Designated Unrestricted Income Fund and an Expendable Endowment Fund.

Income generated by the Expendable Endowment Fund is recognised as part of the Unrestricted Income Fund. Unrealised valuation gains or losses on listed investments are recognised in the Expendable Endowment Fund.

The Expendable Endowment Fund was established from donations received for that purpose. The primary intention in establishing an Expendable Endowment Fund is for funds to be invested so as to generate future income for the purpose of the charity. The trustees shall also be permitted to convert any or the entire Expendable Endowment Fund to the Unrestricted Income Fund, however in any decision whether or not to convert endowment monies into expendable income the trustees should have regard for the primary intention of this endowment.

The charity established a Designated Unrestricted Income Fund in the year ended 2019 from the donation received. The intention in establishing a Designated Fund is for funds to be granted for the advancement of research and heritage. Another one was created in the prior year for wildlife. These Designated Unrestricted Income Funds are in addition to the Designated Unrestricted Income Fund for the advancement of education which was created in the year ended 2018.

Any funds receivable during the relevant accounting year but not utilised are carried forward as part of the Unrestricted Income Fund.

1.6 Cash at bank and in hand

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.7 Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Financial Activities (including an income and expenditure account). If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Financial Activities (including an income and expenditure account).

Financial assets are derecognised when:

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THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

1 Accounting policies (continued)

1.7 Financial instruments (continued)

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors that are classified as debt are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, this is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8 Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the charity’s financial statements require trustees to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, at the reporting date. However uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future periods.

2 Donations and legacies

onations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Income Fund 2022 Income Fund 2021
£ £ £ £
Donations - - 1,250,000 1,250,000

During the prior year, the charity received an unrestricted donation of £1,250,000. The charity designated these funds for the purposes of grant giving for wildlife. There were no donations in the current year.

3 Investment income

vestment income
Income from UK listed investments
Bank interest receivable		 Unrestricted
Income Fund
£
1,377,451
6,157
1,383,608		 Total Funds
2022
£
1,377,451
6,157
1,383,608		 Unrestricted
Income Fund
£
1,424,929
5,174
1,430,103		 Total Funds
2021
£
1,424,929
5,174
1,430,103

4 Raising funds

aising funds
Unrestricted Total Funds Unrestricted Total Funds
Income Fund 2022 Income Fund 2021
£ £ £ £
Investment management fees 162,932 162,932 150,927 150,927

-17-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5 Grant making

The following table analyses the grants into broad categories, by the period in which they fall due for payment.

Animals
Hearing Dogs for Deaf People
Hope Rescue
Oak Tree Animals' Charity
Scottish SPCA
Woodlands Wildlife Sanctuary
Bereavement
Compassionate Friends
Scotty’s Little Soldiers
Cathedral
Bradford Cathedral		 Paid
2022
£
-
-
470
-
10,000
10,470
Paid
2022
£
4,000
12,000
16,000
Paid
2022
£
-		 Payable
2023-25
£
5,000
8,400
-
5,000
-
18,400
Payable
2023-25
£
-
-
-
Payable
2023-25
£
3,000		 Total
£
5,000
8,400
470
5,000
10,000
28,870
Total
£
4,000
12,000
16,000
Total
£
3,000

-18-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5
Grant making (continued)
Community
Ainon Baptist Church
Breaking Barriers
Bridge Church, Bolton
Bridgerule Village Hall Limited
Brightwalton and Catmore
Christ Church Harwood
Ecumenical Partnership Initiatives, known as
Workplace Matters
Emmanuel Church New Life Church
English Province of the Order of Preachers
Holy Trinity Hedlington Quarry, Oxford
Hope Community Church, Ponypridd
Lavant Churches
Milton Abbot with Dunterton PCC
Newport Pagnell United Reformed Church Charity
Octavia Foundation
Ridgeway Methodist Church
St Andrew’s Church, Alfiston with Lullington
St Augustine’s Church, Ipswich
St Boniface Church, Whipton
St Botolph’s, Longthorpe
St James in the City
St James, Sutton, in the Diocese of Chester
St Martin with St Peter, Worcester
St Mary the Virgin Church, Hanbury
St Mary the Virgin Church, Monken Hadley
St Michael and All Angels with Middleton Tyas
St Peter's Church, Rhoose
St Philip and St James, Ilfracombe
Westcliff St Peter
Worth, Pound Hill & Maidenbower		 Paid
2022
£
-
-
20,000
-
-
-
-
-
5,000
-
-
-
-
3,163
-
3,575
-
5,000
-
8,500
2,730
-
3,267
-
30,000
-
5,534
-
4,100
90,869		 Payable
2023-25
£
2,500
2,762
-
6,000
7,225
2,000
10,000
5,000
-
6,000
10,000
5,287
7,200
-
1,000
-
5,000
-
10,000
-
-
3,379
-
8,000
-
10,000
-
8,000
5,000
-
114,353		 Total
£
2,500
2,762
20,000
6,000
7,225
2,000
10,000
5,000
5,000
6,000
10,000
5,287
7,200
3,163
1,000
3,575
5,000
5,000
10,000
8,500
2,730
3,379
3,267
8,000
30,000
10,000
5,534
8,000
5,000
4,100
205,222

-19-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5
Grant making (continued)
Disability
Autism Bedfordshire
B.A.S.I.C Brain and Spinal Injury Centre Limited
Castel Froma Neuro Care Ltd
Centre 404
Cherry Trees
Coventry Rugby Community Foundation
Cpotential Trust
Devon Link Up
Diverse Abilities Plus Ltd.
Dogs for Autism
East Sussex Hearing
English Heritage Trust
Federation of London Youth Clubs
Flyde Rugby Community Foundation
Guild Care Limited
Horsley, Bookham & Leatherhead Riding for the Disabled
Independent Provider of Special Education Advice
INSPIRE Foundation
Iris Theatre
KEEN London
KIDS
Lambeth Elfrida Rathbone Society
Martha Trust
Mid Devon Mobility
Multiple Sclerosis Therapy Centre Norfolk
National Rheumatoid Arthritis Society (NRAS)
National Star Foundation
Newlife the Charity for Disabled Children
Orchard Hill College
Outward Housing
Royal National College for the Blind
Royal Society for Blind Children
Schoolreaders
Side by Side (Children) Limited
Southbourne with West Thorney, St John's Southbourne
St Elizabeth's Centre
Torch Trust for the Blind
TRACKS (Autism)
Treloar Trust
Tuberous Sclerosis Association
Umbrella Derby and Derbyshire
Yad Voezer Day Centre Limited		 Paid
2022
£
-
5,000
-
5,000
-
-
-
-
5,000
5,000
-
-
5,000
-
1,392
3,000
-
8,400
2,000
2,100
3,914
-
9,460
5,000
-
2,500
-
4,955
-
-
-
7,619
-
-
-
5,000
-
-
-
-
3,000
5,000
88,340		 Payable
2023-25
£
7,000
-
3,864
-
4,800
4,440
20,000
5,000
-
-
1,000
10,000
-
3,000
-
-
10,000
-
-
-
-
3,699
-
-
4,000
-
10,000
-
4,142
5,000
5,000
-
6,500
4,963
5,000
-
5,000
20,000
20,000
4,000
-
-
166,408		 Total
£
7,000
5,000
3,864
5,000
4,800
4,440
20,000
5,000
5,000
5,000
1,000
10,000
5,000
3,000
1,392
3,000
10,000
8,400
2,000
2,100
3,914
3,699
9,460
5,000
4,000
2,500
10,000
4,955
4,142
5,000
5,000
7,619
6,500
4,963
5,000
5,000
5,000
20,000
20,000
4,000
3,000
5,000
254,748

-20-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5
Grant making (continued)
Domestic Abuse
East Surrey Domestic Abuse Service
Haven, Wolverhampton
Hestia Housing and Support
Education
Malorees Parent Staff and Friends Association
Elderly
Age Concern East Sussex
Methodist Homes (MHA)
Sudbury Neighbourhood Centre (Middlesex) Ltd
Wainman Trust
Environmental
Bioregional Development Group
Conservation Education and Research Trust
(Earthwatch Europe)
Heart of England Forest
Surfers Against Sewage
Sylvia Foundation		 Paid
2022
£
7,000
-
8,000
15,000
Paid
2022
£
-
Paid
2022
£
3,237
-
-
-
3,237
Paid
2022
£
-
-
-
5,000
-
5,000		 Payable
2023-25
£
-
2,000
-
2,000
Payable
2023-25
£
2,800
Payable
2023-25
£
-
5,958
4,675
5,000
15,633
Payable
2023-25
£
5,000
5,000
1,000
-
6,006
17,006		 Total
£
7,000
2,000
8,000
17,000
Total
£
2,800
Total
£
3,237
5,958
4,675
5,000
18,870
Total
£
5,000
5,000
1,000
5,000
6,006
22,006

-21-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5 Grant making (continued)

Family
Norwood Ravenswood
Oakley Preschool Playgroup
Health & Wellbeing
Biddulph Youth and Community Zone Limited
Bunbury ESCA Festival
East and North Herefordshire NHS Charitable Fund
Horticultural Therapy Trust
Jonas Charitable Trust
Life Education Wessex and Thames Valley
Homeless
Cambridge Cyrenians Limited
Centrepoint Soho
Depaul UK
Emmaus Dover
John Trotter Trust
Mags Day Centre
Nomad Opening Doors
Rowan Alba
Warming Up The Homeless		 Paid
2022
£
1,578
-
1,578
Paid
2022
£
1,200
5,000
-
-
4,000
-
10,200
Paid
2022
£
5,000
-
-
-
-
-
3,000
872
-
8,872		 Payable
2023-25
£
-
6,420
6,420
Payable
2023-25
£
-
-
10,000
3,355
-
2,128
15,483
Payable
2023-25
£
-
28,500
4,500
3,000
10,000
2,300
-
-
2,500
50,800		 Total
£
1,578
6,420
7,998
Total
£
1,200
5,000
10,000
3,355
4,000
2,128
25,683
Total
£
5,000
28,500
4,500
3,000
10,000
2,300
3,000
872
2,500
59,672

-22-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5
Grant making (continued)
Life-Limiting
Grampian Children’s Respite Care (Charlie House)
Willow Foundation
Hospice
Cornwall Hospice Care
East Anglia's Children's Hospices (EACH)
Ellenor
Farleigh Hospice
Five Towns Plus Hospice Fund Limited
Garden House Hospice Care
Hospice of St Francis (Berkhamsted) Ltd
Kirkwood Hospice
Mary Stevens Hospice
North London Hospice
Rowans Hospice
Rowcroft House Foundation Limited
St Barnabas Hospice Trust (Lincolnshire)
St David's Foundation Hospice Care
St John & St Elizabeth Charity
St Joseph's Hospice Hackney
St Raphael's Hospice
St Richard's Hospice Foundation
Tameside and Glossop Hospice Ltd
Wessex Children's Hospice Trust		 Paid
2022
£
-
5,000
5,000
Paid
2022
£
-
3,500
8,104
-
-
929
-
3,000
6,695
50,000
6,500
8,023
8,000
1,984
-
5,800
4,490
-
-
-
107,025		 Payable
2023-25
£
8,000
-
8,000
Payable
2023-25
£
2,700
-
-
15,430
8,686
-
10,000
-
-
-
-
-
-
-
10,000
-
-
7,140
10,000
8,470
72,426		 Total
£
2,700
3,500
8,104
15,430
8,686
929
10,000
3,000
6,695
50,000
6,500
8,023
8,000
1,984
10,000
5,800
4,490
7,140
10,000
8,470
179,451
Total
£
8,000
5,000
13,000

-23-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5 Grant making (continued)

Medical
Addenbrooke's Charitable Trust
Barking, Havering & Redbridge Hospitals NHS Trust
Big C Appeal Limited
Cardiac Risk in the Young
Chronicle Sunshine Fund
Colchester and Ipswich Hospitals Charity
DKMS
Ezra Umparpeh Limited
Leeds Cares (Leeds Hospitals Charity)
Leukaemia and Myeloma Research UK
Lily Foundation
Lucy Air Ambulance for Children
Luton And Dunstable Hospital Charitable Fund
Moorfields Eye Charity
Oxford Hospitals Charity
Royal Hospital for Neuro-disability
Scar Free Foundation
Southampton Children's Hospital Charity
St Luke's Hospice - Sheffield
University College London
University of Liverpool
Mental Health
Alder Hey Children's Charity
Mind Islington
NOPANIC
Rock2Recovery
Sussex Emmaus
Teens Unite Fighting Cancer
Turning Corners
Weybridge Men's Shed		 Paid
2022
£
-
-
-
-
1,629
-
-
-
8,000
-
10,000
9,500
-
15,000
-
12,030
-
-
-
50,000
-
106,159
Paid
2022
£
-
3,000
-
30,000
-
-
-
9,620
42,620		 Payable
2023-25
£
10,000
5,000
3,300
5,000
-
10,000
2,614
1,500
-
1,296
-
-
5,000
-
7,000
-
10,000
5,035
8,000
-
6,417
80,162
Payable
2023-25
£
7,917
-
2,736
-
5,000
5,234
830
-
21,717		 Total
£
10,000
5,000
3,300
5,000
1,629
10,000
2,614
1,500
8,000
1,296
10,000
9,500
5,000
15,000
7,000
12,030
10,000
5,035
8,000
50,000
6,417
186,321
Total
£
7,917
3,000
2,736
30,000
5,000
5,234
830
9,620
64,337

-24-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5
Grant making (continued)
Museum
Bristol Aero Collection Trust
British Glass Foundation
Dyson Perrins Museum Trust
East Surrey Museum
Mary Rose Trust
Victoria and Albert Museum
Music
Darbar Arts, Culture Heritage Trust
Mayor's Music Fund for Young Londoners
Opera North Limited
People's Orchestra
Royal Philharmonic Orchestra
Wells Cathedral Chorister Trust
Westminster Abbey Trust
Poverty
Alderley Edge School for Girls
Alexandra Rose Charity
Basildon Community Resource Centre
Beyond Limits
Birmingham Hippodrome Theatre Trust
Brierley Hill Babybank
Carriers of Hope, Coventry
Community Council of Shropshire
Courtney Foundation
FareShare
Hope for Justice
Les Alden Foundation
London Early Years Foundation
Prison Advice and Care Trust (PACT)
Regal Respite Limited
Seafarers' Charity
The Zink Project CIO		 Paid
2022
£
19,990
-
-
-
-
-
19,990
Paid
2022
£
-
-
-
-
-
10,000
-
10,000
Paid
2022
£
5,000
-
1,632
-
5,250
4,000
2,000
-
-
-
1,500
5,000
5,000
5,000
1,500
5,000
1,740
42,622		 Payable
2023-25
£
-
10,300
7,160
2,000
18,260
10,000
47,720
Payable
2023-25
£
1,500
4,000
20,000
2,400
4,400
-
20,000
52,300
Payable
2023-25
£
-
10,000
-
5,650
-
-
-
3,370
2,775
6,000
-
-
-
-
-
-
-
27,795		 Total
£
19,990
10,300
7,160
2,000
18,260
10,000
67,710
Total
£
1,500
4,000
20,000
2,400
4,400
10,000
20,000
62,300
Total
£
5,000
10,000
1,632
5,650
5,250
4,000
2,000
3,370
2,775
6,000
1,500
5,000
5,000
5,000
1,500
5,000
1,740
70,417

-25-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5 Grant making (continued)

Rehabilitation
Amazing Grace Spaces
Rescue
East Anglian Air Ambulance
Essex & Herts Air Ambulance Trust
Great Western Air Ambulance Charity
Hampshire and Isle of Wight Air Ambulance
Kent, Surrey and Sussex Air Ambulance Trust
Thames Valley Air Ambulance
Theatre
Royal Academy of Dance
Social Care
St Andrew’s Children’s Society
Veterans
AF&V Launchpad Limited
Care for Veterans		 Paid
2022
£
2,000
Paid
2022
£
-
-
5,325
810
4,997
-
11,132
Paid
2022
£
-
Paid
2022
£
-
Paid
2022
£
-
5,000
5,000		 Payable
2023-25
£
-
Payable
2023-25
£
10,000
7,995
-
-
-
5,600
23,595
Payable
2023-25
£
25,000
Payable
2023-25
£
4,000
Payable
2023-25
£
5,000
-
5,000		 Total
£
2,000
Total
£
10,000
7,995
5,325
810
4,997
5,600
34,727
Total
£
25,000
Total
£
4,000
Total
£
5,000
5,000
10,000

-26-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

5 Grant making (continued)

Youth
Bryntail Cottage Charity
China Plate Theatre Ltd.
Christian Youth Enterprises Sailing Centre
City Gateway Limited
Exodus Project
Highlights
New Hackney Education Business Partnership Limited
Outreach and Community Action Project
Read for Good
Sport 4 Life UK
Springboard Charity
Starlight Children's Foundation
Sudden Productions
Young Lewisham Project
Subtotal before reductions
Prior year grant commitments cancelled
Total
Grants made by Fund
Income
Education
Research and Heritage
Wildlife
Total		 Paid
2022
£
-
11,000
-
9,430
3,995
2,500
3,427
5,000
-
-
3,180
-
-
-
38,532
639,646
(69,408)
570,238
Paid
2022
£
389,870
50,639
114,259
15,470
570,238		 Payable
2023-25
£
3,500
4,000
10,000
-
-
-
-
-
1,637
3,500
-
4,400
1,000
10,000
38,037
818,055
-
818,055
Payable
2023-25
£
534,086
147,096
115,673
21,200
818,055		 Total
£
3,500
15,000
10,000
9,430
3,995
2,500
3,427
5,000
1,637
3,500
3,180
4,400
1,000
10,000
76,569
1,457,701
(69,408)
1,388,293
Total
£
923,956
197,735
229,932
36,670
1,388,293

Please see note 19 for 2021 comparatives.

-27-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

6
Analysis of accruals for grants payable
Grants committed during the year
Grants committed in prior periods
Analysis of accruals for grants payable
Grants committed during the year
Grants committed in prior periods
7
Governance costs
Auditor’s remuneration
Audit fees
Other services
Staff costs
8
Bank charges
Other		 Notes
5
12, 13
– prior year
Notes
19
12, 13
Unrestricted
Income Fund
£
12,900
18,525		 Notes
5
12, 13
– prior year
Notes
19
12, 13
Unrestricted
Income Fund
£
12,900
18,525		 2022
£
709,235
286,349
995,584
2021
£
453,040
189,223
642,263
Total Funds
2022
£
12,900
18,525		 2023-24
£
108,820
-
108,820
2022-23
£
110,345
-
110,345
Unrestricted
Income Fund
£
12,000
20,623
32,623
50,476
203
10,045
93,347		 Total at
31.03.22
£
818,055
286,349
1,104,404
Total at
31.03.21
£
563,385
189,223
752,608
Total Funds
2021
£
12,000
20,623
31,425
50,459
240
5,465		 31,425
50,459
240
5,465		 32,623
50,476
203
10,045
87,589 87,589 93,347

All governance costs are in relation to grant-making activities.

8 Staff costs

Staff costs were as follows:
Wages and salaries
Social security costs
The average monthly number of employees, including the trustees,
during the year was as follows:
Administration and support		 2022
£
50,000
459
50,459
2022
£
7		 2021
£
50,000
476
50,476
2021
£
7

No employees in the current and prior year received employment benefits of greater than £60k.

-28-

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

THE HOBSON CHARITY LIMITED

9 Trustees remuneration

No remuneration or expenses were paid to trustees in respect of the current and prior year.

10 Listed investments

sted investments
At April 2021
Historical cost
Unrealised gains / (losses) on revaluation
Liquid assets
Fair value
Add acquisitions at cost
Unrealised gains on revaluation
Movement in liquid assets
Fair value at 31 March 2022		 2022
£
33,968,165
4,709,269
6
38,677,440
1,566,606
812,449
465,641
41,522,136		 2021
£
33,834,945
(2,031,532)
19,371
31,822,784
133,220
6,740,801
(19,365)
38,677,440

Realised and unrealised gains and losses on listed investments are allocated to the Expendable Endowment Fund.

11 Debtors

Accrued income
Other debtors		 2022
£
-
34,522
34,522		 2021
£
500,000
32,606
532,606

Financial assets that are debt instruments measured at amortised cost relevant accrued income and other debtors and amounted to £34,522 (2021: £32,606).

12 Creditors: amounts falling due within one year

reditors: amounts falling due within one year
Note
Other accruals
Accruals for grants payable
6		 2022
£
23,350
995,584
1,018,934		 2021
£
23,600
642,263
665,863

-29-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

13 Creditors: amounts falling after more than one year

Note 2022 2021
£ £
Accruals for grants payable 6 108,820 110,345

Financial liabilities measured at amortised cost comprise trade creditors, other creditors, general accruals (excluding the audit fee accrual) and accruals for grants payable and amounted to £1,114,854 (2021: £764,208).

14 Share capital
Allotted, called up and fully paid
At 31 March 2022 5 (2021: 5) Ordinary Shares of £1 each
15 Trust funds		 2022
2021
£
£
5
5

Unrestricted Income Fund:

As at
1.04.21
£
Unrestricted Fund
16,175,331
Designated
Educational Fund
1,755,732
Research and Heritage Fund
763,795
Wildlife Fund
647,556
Total net assets
19,342,414
Expendable Endowment Fund – current year
(including Unrealised Investment Gains):
Balance as at 1 April 2021
Net incoming resources
Balance as at 31 March 2022		 Income
£
1,383,608
-
-
-
1,383,608		 Expenditure
£
(1,174,477)
(197,735)
(229,932)
(36,670)
(1,638,814)		 As at
31.03.22
£
16,384,462
1,557,997
533,863
610,886
19,087,208
£
27,773,668
812,449
28,586,117

-30-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

15 Trust funds (continued)

Unrestricted Income Fund:

Unrestricted Fund
Designated Educational Fund
Research and Heritage Fund
Wildlife Fund
Total net assets		 As at
1.04.20
£
15,731,881
1,839,301
880,160
-
18,451,342		 Income
£
1,430,103
-
-
1,250,000
2,680,103		 Expenditure
£
(986,653)
(83,569)
(116,365)
(602,444)
(1,789,031)		 As at
31.03.21
£
16,175,331
1,755,732
763,795
647,556
19,342,414

The charity invested the donation received in the prior year of £1,250,000 into a Designated Fund. This fund was established to provide grants for wildlife.

Expendable Endowment Fund – prior year
(including Unrealised Investment Gains):
Balance as at 1 April 2020
Net incoming resources
Balance as at 31 March 2021		 £
21,032,867
6,740,801
27,773,668

16 Analysis of net assets – current year

Fund balances at
31 March 2022 are represented
by:-
Investments
Current assets
Liabilities
Total net assets		 Share
Capital
2022
£
-
5
-
5		 Unrestricted
Income
Funds
2022
£
12,936,019
7,278,943
(1,127,754)
19,087,208		 Expendable
Endowment
Fund
2022
£
28,586,117
-
-
28,586,117		 Total
Funds
2022
£
41,522,136
7,278,948
(1,127,754)
47,673,330

The Designated Unrestricted Income Fund has current assets of £3,085,860 (restated 2021: £3,407,832) and liabilities of £383,114 (restated 2021: £240,749).

Upon preparation of the current year accounts it was noted that the comparative figure was incorrect and this has now been updated this year.

-31-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

16 Analysis of net assets (continued) – prior year

Fund balances at
31 March 2021 are
represented by:-
Investments
Current assets
Liabilities
Total net assets		 Share
Capital
2021
£
-
5
-
5		 Unrestricted
Income
Funds
2021
£
10,903,772
9,214,850
(776,208)
19,342,414		 Expendable
Endowment
Fund
2021
£
27,773,668
-
-
27,773,668		 Total
Funds
2021
£
38,677,440
9,214,855
(776,208)
47,116,087

17 Control

The trustees consider there to be no overall controlling party.

18 Related party transactions

There were no related party transactions during the year.

During the prior year, the charity received a donation of £1,250,000 from a trustee. No restrictions were attached to the income.

-32-

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

THE HOBSON CHARITY LIMITED

19 Comparatives for Grant making year ended 31 March 2021

The following table analyses the grants into broad categories, by the period in which they fall due for payment.

Animals
All Creatures Great and Small
Animals In Need Northamptonshire
Battersea Dogs & Cats Home
Canine Partners
Cats Protection
Colchester Zoo Action for the Wild
Cotswold Dogs & Cats Home (RSPCA)
Cuan Wildlife Rescue
Dogs' Friends
Farplace Animal Rescue
Ferne Animal Sanctuary
Freedom of Spirit Trust for Border Collies
Friends of Animal League
Greyhound Gap
Harper Asprey Wildlife Rescue
Hearing Dogs for Deaf People
Hope Rescue
Horse Sense Wirral
Makants Greyhound Rescue NW
Mare and Foal Sanctuary
Mayhew Home
National Animal Welfare Trust
National Animal Welfare Trust
National Zoological Society of Wales (Welsh Mountain
Zoo)
Oak Tree Animals' Charity
Our Special Friends
Parkgate Pony Sanctuary
Prickles Hedgehog Rescue
Remus Memorial Horse Sanctuary
RSPCA Bath And District Branch
Scottish SPCA
Sea Life Trust Limited (Cornish Seal Sanctuary)
Secret World Wildlife Rescue
Support Dogs
Team Poundie
Weald and Downland Living Museum
Wildlife Hospital Trust (Tiggywinkles)
WWT
Zoological Society of London (ZSL)		 Paid
2021
£
9,000
10,000
10,000
14,000
10,000
25,000
1,000
4,000
9,000
10,000
20,000
10,000
-
10,000
-
12,915
18,000
8,000
20,000
20,000
8,529
10,000
3,000
25,000
1,000
5,000
6,000
3,000
10,000
15,000
10,000
15,000
25,000
10,000
6,000
3,000
50,000
50,000
100,000
576,444		 Payable
2022-24
£
-
-
-
-
-
-
-
-
-
-
-
-
10,000
-
24,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
34,000		 Total
£
9,000
10,000
10,000
14,000
10,000
25,000
1,000
4,000
9,000
10,000
20,000
10,000
10,000
10,000
24,000
12,915
18,000
8,000
20,000
20,000
8,529
10,000
3,000
25,000
1,000
5,000
6,000
3,000
10,000
15,000
10,000
15,000
25,000
10,000
6,000
3,000
50,000
50,000
100,000
610,444

-33-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19 Grant making (continued)
Bereavement
Guy’s Gift
Cathedral
Roman Catholic Diocese of Northampton		 Paid
2021
£
1,200
1,200
Paid
2021
£
-
-		 Payable
2022-24
£
-
-
Payable
2022-24
£
3,500
3,500		 Total
£
1,200
1,200
Total
£
3,500
3,500

-34-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19 Grant making (continued)
Community
Agape Community Church, Ty sign
Aylsham & District Care Trust
Brinsley with Underwood (Church of St Michael and All
Angels, Underwood)
Christ Church Creekmoor
City Gate Community Projects
Ecclesiastical Parish of Edgeley and Cheadle Heath,
Stockport
Ecumenical Partnership Initiatives, known as
Workplace Matters
Emmanuel Church New Life Church
Friends of Lanteglos Church
Friends of St Andrews, Carlton
Gamblesby Methodist Church
Guernsey Botanical Trust LBG
Licoricia of Winchester Statue Appeal
Mill End Baptist Church
Northwich Parochial Church Council St Helen, Witton
Park 4All @ Lyme Green Cio
Prince's Countryside Fund
Saint Michael's Church, East Anstey (The Exeter
Diocesan Board of Finance)
St Clements PCC Cambridge
St Mary of Charity Parish Church
St Mary The Virgin Puddletown
St Michael and All Angels with St Mark, Preston
St Pauls Church - Chichester
St Peter & St Paul Ermington
St Peter's Arkley Church
St Peter's Church, Rhoose
St Peters Halliwell Bolton
Support Through Court
The Church of the Holy and Undivided Trinity, Edale,
Derbyshire
United Parish of East Harptree and Hinton Blewitt
Wallheath Evangelical Free Church		 Paid
2021
£
-
3,783
-
-
-
-
20,000
-
-
-
1,296
8,000
-
-
-
-
-
-
-
-
-
-
7,500
-
10,000
-
-
-
-
-
-
50,579		 Payable
2022-24
£
5,000
-
3,000
857
5,000
7,800
-
5,000
12,000
2,000
-
-
1,000
1,000
5,000
6,958
5,000
1,170
10,000
6,000
1,000
2,000
-
2,000
-
5,000
5,245
10,000
4,000
10,000
6,000
122,030		 Total
£
5,000
3,783
3,000
857
5,000
7,800
20,000
5,000
12,000
2,000
1,296
8,000
1,000
1,000
5,000
6,958
5,000
1,170
10,000
6,000
1,000
2,000
7,500
2,000
10,000
5,000
5,245
10,000
4,000
10,000
6,000
172,609

-35-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19 Grant making (continued)
Disability
Bevern Trust
Blind Veterans UK
Brainwave
British Disabled Angling Association
Caring & Sharing Trust - Cotton's Farmhouse
Different Strokes (Trustees) Limited
Dingley Family And Specialist Early Years Centres
Douglas Bader Foundation
Embrace (East Sussex)
Fifth Trust
Friends of St Luke's, Redbourn
Headway Norfolk & Waveney Limited
Hf Trust Limited
Horatio's Garden
Krazy Kat Theatre Company
Livability
Mary Hare Foundation
MSail
Nuneaton & North Warwickshire Equestrian Centre
Riding for The Disabled Association
Paul Popham Fund, Renal Support Wales
PLUS (Forth Valley) Ltd
Rainbow Hub NW Ltd
RNIB (The Royal National Institute Of Blind People)
Seashell Trust
South London Special League
Space4Autism
St Joseph's Specialist Trust
Stanley Grange Community Association
Step by Step London
Step by Step School Limited
Stick 'N' Step
Sue Ryder
Walsall Society for the Blind
Walton Leigh School Parent Staff Association
Warwickshire Wheelchair Basketball Academy		 Paid
2021
£
1,092
7,960
2,924
-
1,900
216
2,000
-
-
4,521
15,000
-
1,000
-
-
2,000
-
-
1,000
500
193
995
10,000
3,077
8,000
-
-
5,000
1,000
17,300
1,388
7,105
-
2,989
-
97,160		 Payable
2022-24
£
-
-
-
2,350
-
-
-
5,000
6,995
-
-
3,240
-
6,685
1,150
-
10,000
2,000
-
-
-
-
-
-
-
1,800
5,382
-
-
-
-
-
2,000
-
6,100
52,702		 Total
£
1,092
7,960
2,924
2,350
1,900
216
2,000
5,000
6,995
4,521
15,000
3,240
1,000
6,685
1,150
2,000
10,000
2,000
1,000
500
193
995
10,000
3,077
8,000
1,800
5,382
5,000
1,000
17,300
1,388
7,105
2,000
2,989
6,100
149,862
Domestic Abuse
Haven, Wolverhampton
Rising Sun and Domestic Violence and Abuse Service		 Paid
2021
£
-
-
-		 Payable
2022-24
£
2,000
4,584
6,584		 Total
£
2,000
4,584
6,584

-36-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19 Grant making (continued)

Education
Country Trust
Friends Of Wootton School
London Reading Centre
Ruskin Mill Trust
St Mary and St Margaret Church of England School
Parent Teacher Association
Wycombe Royal Grammar School Foundation
York Archaeological Trust for Excavation and Research
Limited re The Jorvik Centre
Elderly
Abbeyfield (Reading) Society Limited
Age UK Leicester Shire and Rutland
Charity of Elizabeth Jane Jones
Dementia Concern
Dementia Matters
Dementia UK
Jewish Care
Musical Connections
Toynbee Hall
Walsall Rehabilitation and Healthy Living Trust (Heart
Care Walsall)
Wessex Heritage Trust
Environmental
Stonebridge City Farm		 Paid
2021
£
-
-
-
1,000
-
-
-
1,000
Paid
2021
£
2,000
2,040
-
-
1,000
2,000
2,500
-
-
5,000
1,000
15,540
Paid
2021
£
3,000
3,000		 Payable
2022-24
£
2,000
1,000
2,000
-
5,200
8,000
5,000
23,200
Payable
2022-24
£
-
-
4,000
6,000
-
-
-
5,000
1,800
-
-
16,800
Payable
2022-24
£
-
-		 Total
£
2,000
1,000
2,000
-
5,200
8,000
5,000
24,200
Total
£
2,000
2,040
4,000
6,000
1,000
2,000
2,500
5,000
1,800
5,000
1,000
32,340
Total
£
3,000
3,000

-37-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19 Grant making (continued)

Family
Bristol Association for Neighbourhood Daycare
Dandelion Time
Flourishing Families Leeds
Health & Wellbeing
Airedale Voluntary Drug and Alcohol Agency Limited
operating as Project 6
Basingstoke and Alton Cardiac Rehabilitation Charity
Limited
Bunbury ESCA Festival
Made in Hackney
Stroke Association		 Paid
2021
£
328
12,000
-
12,328
Paid
2021
£
-
-
5,000
-
2,000
7,000		 Payable
2022-24
£
-
-
1,480
1,480
Payable
2022-24
£
1,000
2,000
-
4,222
-
7,222		 Total
£
328
12,000
1,480
13,808
Total
£
1,000
2,000
5,000
4,222
2,000
14,222
Homeless
Amber Foundation
Big Issue North Trust Ltd
East Northants Community Services
Manna Society
Off The Fence
Passage (Passage 2000)
Response Organisation
SPEAR Housing Association Limited
St John Ambulance		 Paid
2021
£
6,900
-
-
196
6,000
1,907
2,000
-
-
17,003		 Payable
2022-24
£
-
5,000
2,000
-
-
-
-
5,000
6,278
18,278		 Total
£
6,900
5,000
2,000
196
6,000
1,907
2,000
5,000
6,278
35,281

-38-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19 Grant making (continued)

Life-Limiting
Hope For Tomorrow
Omega, the National Association for End of Life Care
Wessex Cancer Trust
Hospice
Bury Hospice Ltd
Demelza House Children's Hospice
Dorothy House Hospice Care
Douglas Macmillan Hospice
John Taylor Hospice Charity
LOROS Hospice
Marie Curie
Norfolk Hospice
North London Hospice
Peace Hospice Care
Priscilla Bacon Norfolk Hospice Care Ltd
Rennie Grove Hospice Care
Saint Catherine's Hospice
St Clare West Essex Hospice Care Trust
St Columba's Hospice
St Luke's Hospice Plymouth
St Wilfrid's Hospice		 Paid
2021
£
4,875
1,500
2,390
8,765
Paid
2021
£
3,625
7,595
9,703
-
2,500
-
16,048
810
4,820
2,967
-
3,629
1,200
10,000
1,583
4,416
-
68,896		 Payable
2022-24
£
-
-
-
-
Payable
2022-24
£
-
-
-
1,050
-
3,185
-
-
-
-
20,000
-
-
-
-
-
5,500
29,735		 Total
£
3,625
7,595
9,703
1,050
2,500
3,185
16,048
810
4,820
2,967
20,000
3,629
1,200
10,000
1,583
4,416
5,500
98,631
Total
£
4,875
1,500
2,390
8,765

-39-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19 Grant making (continued)

Medical
Action Medical Research
Alex TLC
Children's Heart Surgery Fund
Glasgow Children's Hospital Charity
Great Ormond Street Hospital Children's Charity
Imperial Health Charity
Leonard Cheshire Disability
Luton And Dunstable Hospital Charitable Fund
Meningitis Research Foundation
MS Society
Myaware
Northwick Park Institute For Medical Research
Richard Dimbleby Cancer Fund
Royal National Orthopaedic Hospital (RNOH) Charity
Terrence Higgins Trust
Mental Health
Blyth Star Enterprises
HOUR Community
Mates in Mind
St Marylebone Parish Church with Holy Trinity St
Marylebone
Young Minds Trust
Music
The Corporation of the Hall of Arts and Sciences (Royal
Albert Hall)		 2021
£
-
1,398
5,000
-
-
10,000
10,000
-
-
3,950
-
4,950
-
20,000
-
55,298
Paid
2021
£
1,000
-
-
-
2,000
3,000
Paid
2021
£
30,000		 Payable
2022-24
£
8,000
-
-
4,500
12,000
-
-
5,000
1,000
-
6,000
-
6,000
-
1,327
43,827
Payable
2022-24
£
-
2,000
2,500
50,000
-
54,500
Payable
2022-24
£
-		 Total
£
8,000
1,398
5,000
4,500
12,000
10,000
10,000
5,000
1,000
3,950
6,000
4,950
6,000
20,000
1,327
99,125
Total
£
1,000
2,000
2,500
50,000
2,000
57,500
Total
£
30,000

-40-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19 Grant making (continued)

Poverty
EMERGE 3Rs
Giving World
Glossopdale Furniture Project
Kings Church Bolton
Navigate
One Stone Grove (Stonegrove Community Trust)
Prism Gift Fund (Compassion London)
Suit Works
Rehabilitation
Criminon UK
Rescue
Essex & Herts Air Ambulance Trust
Theatre
Cherwell Theatre
Roundhouse Trust		 Paid
2021
£
-
2,882
2,000
-
1,000
1,000
1,000
2,000
9,882
Paid
2021
£
5,600
Paid
2021
£
-
Paid
2021
£
-
-
-		 Payable
2022-24
£
15,000
-
-
2,373
-
-
-
-
17,373
Payable
2022-24
£
-
Payable
2022-24
£
5,950
Payable
2022-24
£
1,500
10,000
11,500		 Total
£
15,000
2,882
2,000
2,373
1,000
1,000
1,000
2,000
27,255
Total
£
5,600
Total
£
5,950
Total
£
1,500
10,000
11,500

-41-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19
Grant making (continued)
Veterans
Felix Fund
Improving Lives Plymouth
On Course Foundation
Royal Air Force Benevolent Fund
Royal Air Forces Association
Royal Hospital Chelsea Appeal Limited
Taxi Charity for Military Veterans		 Paid
2021
£
-
-
-
10,000
-
-
-
10,000		 Payable
2022-24
£
5,000
5,000
5,800
-
5,000
50,000
1,800
72,600		 Total
£
5,000
5,000
5,800
10,000
5,000
50,000
1,800
82,600
Youth
2nd Brewood Scout Group
British Exploring Society
Chellington Centre
Disability Challengers
Drama Express
Happy Days
NSPCC
Ocean Youth Trust North
Prince's Trust
Prince's Trust
St Andrew's Club
YMCA Norfolk
Subtotal before reductions
Prior year grant commitments cancelled
Total		 Paid
2021
£
-
-
-
1,343
-
-
-
-
50,000
2,000
1,279
-
54,622
1,027,317
(45,945)
981,372		 Payable
2022-24
£
2,500
1,080
10,000
-
500
4,794
13,818
3,412
-
-
-
6,000
42,104
563,385
-
563,385		 Total
£
2,500
1,080
10,000
1,343
500
4,794
13,818
3,412
50,000
2,000
1,279
6,000
96,726
1,590,702
(45,945)
1,544,757

-42-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED)

19
Grant making (continued)
Grants made by Fund
Income
Education
Research and Heritage
Wildlife
Total		 Paid
2021
£
339,503
35,975
37,450
568,444
981,372		 Payable
2022-24
£
402,876
47,594
78,915
34,000
563,385		 Total
£
742,379
83,569
116,365
602,444
1,544,757

-43-