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2024-03-31-accounts

Charity Registration No. 326839

Company Registration No. 01890971 (England and Wales)

THE HOBSON CHARITY LIMITED

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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The Hobson Charity
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THE HOBSON CHARITY LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Directors Emma Cook
Deborah Hobson
Lady Patricia Hobson OBE
Elizabeth Kelsall
Jennifer Richardson
Charity number 326839
Charity Status Registered in England and Wales
Company number 018909771
Registered office Suite 104,
6The Broadway
Mill Hill
London
NW7 3LL
Correspondence address PO Box 57691
London
NW7 0GR
Administrator/ main contact Mark Turner
Website www.hobsoncharity.org.uk
Auditor RSM UKAudit LLP
Chartered Accountants
St Olaf's Hall
Church Road
Lerwick
Shetland Isles
ZE1 OFD
Bankers Lloyds Bank Pic
39 Threadneedle Street
London
EC2R 8AU
Solicitors Edwin Coe LLP
2 Stone Buildings
Lincoln's Inn
London
WC2A3TH
Investment advisors Sarasin & Partners LLP
Juxon House
100 St Paul's Churchyard
London
EC4M8BU

THE HOBSON CHARITY LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

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 2024, 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 the legal and administrative information page, 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 13 to 15 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) effective 1 January 2019, 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 forms part of this report.

Objectives and activities

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 £1,637,796 (2023: £1 ,449,087). The charity had been staggering its £36m reinvestment plans to spread its risk exposure, becoming fully invested in the final quarter of the year ended 31 March 2022. 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 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 2024, the trustees aimed to distribute a minimum of £1,200,000 (2023: £1,200,000) in grants. In October 2022; the charity changed the focus from Covid-19 to the Cost of Living, at the time of writing the trustees are focusing their attention to urgent Cost of Living related applications from ‘frontline’ service charitable organisations. The section 'Achievements and performance’ below contains further detaiis of grants made during the year.

Objectives and activities (continued)

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

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THE HOBSON CHARITY LIMITED

TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

During the year the trustees approved 185 grants totalling £1,471,297 (2023: £1,702,782). Of this total, £982,853 (2023: £1,135,288) falls due for payment in future years. This was more than the charity's 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.

Category 2024 2024 2023 2023
Amount Number Amount Number
£ ofgrants £ ofgrants
Animals 37,240 5 108,540 10
Arts - - 5,000 1
Bereavement 20,110 3 17,000 2
Cathedral 10,000 1 20,000 1
Community 162,214 20 111,322 24
Disability 243,284 30 233,824 37
DomesticAbuse 9,000 1 22,000 3
Education 15,000 1 5,000 1
Elderly 24,318 6 36,060 4
Environmental 18,826 3 1,000 1
Family 21,789 5 19,366 5
Health & Wellbeing ( - - 24,551 3
Homeless 100,110 9 90,266 11
Hospice 100,917 12 99,652 13
Life-Limiting 8,346 2 19,513 4
Medical 113,722 11 513,767 18
Mental Health 72,530 10 47,146 9
Museum 77,582 5 61,500 4
Music 47 493 5 16,730 2
Poverty 188,219 27 94,665 19
Rehabilitation 11,500 3 12,400 2
Rescue 61,024 5 29,698 1
Theatre 41,853 4 ~ -
Veterans 12,000 1 34,700 5
Youth 74,220 16 79,082 21
‘ Total ofgrants approved in year 1,471,297 185 1,702,782 201
Less: grants cancelled from previous
years (100,606) (88,180)
Total 1,370,691 1,614,602

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THE HOBSON CHARITY LIMITED

TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance (continued)

During the year 185 grants (2023: 201) were awarded to 185 different beneficiaries (2023: 200) in furtherance of the charity's objectives.

The charity received investment income (net of the management charges) of £1,280,281 from Sarasin & Partners LLP Investment Fund (2023: £1,240,306) the increase is as expected.

The charity received interest of £198,229 (2023: £50,357), incurred governance costs of £84,414 (2023: £87,900) and investment management fees of £159,286 (2023: £158,424).

The trustees invested a further £465,229 (2023: £nil) 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 £42,163,189 (2023: £39,060.817). 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 incoming (2023: outgoing) resources on the Unrestricted Income Fund for the year of £23,406 (2023: £411,839).

The total amount received during the year into the Unrestricted Income Fund was £1,478,510 net of the investment management charges (2023: £1,290,663). The usual principal funding sources of the charity are the income from the investments and bank interest. Donations received amounted to £nil (2023: Enil). 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 £3,105,444.

This was made up of an increase of the unrealised gain of £3,105,444 (2023: £2,464,941 decreased unrealised gain) 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 2024 the charity had total funds carried forward of £47,925,395 (2023: £44,796,545). 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 2024 was £18,698,775 (2023: £18,675,369), of which £3,534,233 (2023: £3,510,828) are regarded as available reserves.

Plans for the future

At the time of writing, the trustees are continuing to actively prioritise urgent cost of living 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 OGR.

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.

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THE HOBSON CHARITY LIMITED

TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Plans for the future (continued)

The trustees intend to distribute a total of approximately £1.2m from the unrestricted funds during the year ending 31 March 2025 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 prior 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.

Structure, governance and management

The Hobson Charity Limited is a private 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.

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THE HOBSON CHARITY LIMITED

TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Reference and administrative information The reference and administrative information set out on the legal and administrative information page forms part of this report.

The trustees who served during the year are shown on the legal and administrative information page forms part of this report.

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The trustees report was approved by the Board of Trustees.
Lady Patricia Hobson OBE Emmia-Gook
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P
Jennifer Richardson
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Dated: 22 October 2024

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THE HOBSON CHARITY LIMITED

STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of The Hobson Charity Limited for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

e there is no relevant audit information of which the charitable company's auditors are unaware; and e the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In preparing this report the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Aci 2006’.

The trustees authorise the Directors' Report.

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

Opinion on financial statements

We have audited the financial statements of The Hobson Charity Limited (the ‘charitable company’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and 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 FRS 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 charitable company’s ability to continue asa 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 the annual 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 maiterial 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.

Opinion on other matters prescribed by the Companies Act 2006

in our opinion, based on the work undertaken in the course of the audit:

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

Matters on which we are required to report by exception

in the 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 Trustees Report.

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, 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.

The extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statemenis, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the. audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

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

The extent to which the audit was considered capable of detecting irregularities, including fraud (cont.)

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

As a result of these procedures, we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, the charitable company's governing document, and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Directors' Report, remaining alert to new or unusual transactions which may not be in accordance with charity law, inspecting board minutes and confirming that there has been no correspondence with the Charity Commission or external legal advisers in the period.

The audit engagement team identified the risk of management override of controls and income recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant; unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates. We have also carried out substantive testing over financial income.

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. 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.

SS ¥rambleton ACC sey Statutory Auditor)

For and on behalf of RSM UK Audit LLP, Statutory Auditor Chartered Accountants

St Olaf's Hall Church Road Lerwick Shetland Isles, ZE1 OFD 11 November 2024

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THE HOBSON CHARITY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Endowment Total Total
funds funds 2024 2023
Notes £ £ £ £
Income from:
Investments 3 1,637,796 - 1,637,796 1,449,087
Expenditure on:
Raising funds 4 159,286 - 159,286 158,424
Charitable activities 1,455,104 - 1,455,104 1,702,502
Total resources expended 1,614,390 - 1,614,390 1,860,926
Net gains on investments 10 - 3,105,444 3,105,444 (2,464,941)
Net movement in funds 23,406 3,105,444 3,128,850 (2,876,780)
Total funds brought forward 18,675,369 26,121,176 44,796,545 47,673,325
Totalfundscarriedforward 18,698,775 29,226,620 47,925,395 44,796,545

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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Company Registration No. 01890971

THE HOBSON CHARITY LIMITED

BALANCE SHEET AS AT 31 MARCH 2024

AS ATAT 31 MARCH 2024 AS ATAT 31 MARCH 2024 AS ATAT 31 MARCH 2024 AS ATAT 31 MARCH 2024 AS ATAT 31 MARCH 2024 AS ATAT 31 MARCH 2024
en
2024 2023
Notes £ £ £ £
Fixed assets
Investments 1 42,163,189 39,060,817
Current assets
Debtors 12 35,643 32,482
Cash at bank and in hand 7,067,793 7,100,938
7,103,436 7,133,420
Creditors: amounts falling due within 13
oneyear (1,052,795) (1,102,687)
Net current assets 6,050,641 6,030,733
Total assets less current liabilities 48,213,830 45,091,550
Creditors: amounts falling due after 14
morethan one year (288,430) (295,000)
Net assets 47,925,400 44,796,550
Represented by:
Share capital 15 5 5
Expendable Endowment Fund 46 29,226,620 26,121,176
Unrestricted Income. Fund 17 18,698,775 18,675,369
47,925,400 44,796,550

These financial statements have been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

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The financial statements were approved by the Trusteps-en 22 October 2024 -
Lady Patricia Hobson OBE Harta Chok Jennifer Richardson
Trustee Trustee Trustee
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THE HOBSON CHARITY LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

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|||||||||| |---|---|---|---|---|---|---|---|---| |2024|2023| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|absorbed|by|operations|19|(1,205,712)|(1,592,575)| |Investing|activities| |Purchase|of|other|investments|(465,229)|-| |Interest|received|1,637,796|1,449,087| |Net cash|generated|from/(used|in)| |investing|activities|1,172,567|1,449,087| |Net cash|used|in|financing|activities|-|-| |Net decrease|in|cash|and|cash|equivalents|(33,145)|(143,488)| |Cash|and|cash|equivalents|at|beginning|of year|7,100,938|7,244,426| |Cash|and|cash|equivalents|at end|of year|7,067,793|7,100,938|

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THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Charity information

The Hobson Charity Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 104, 6 The Broadway, Mill Hill, London, United Kingdom, NW 3LL.

Accounting convention

The financial statements have been prepared under the charity's historic cost convention and in accordance with, the Companies Act 2006 and “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) (effective 1 January 2019) ) - (Charities SORP (FRS 102)), the Charities Act 2011 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a Public Benefit Entity as defined by FRS102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. 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. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Charitable 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. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

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THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Incoming resources

Income is recognised when the charity has entitlement to the funds, on the following basis:

(i) Donations and legacies

Donations, legacies and grants are recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

(ii) Listed investments

Dividends and commission are recognised when receivable and represent income received from listed securities.

(iv) Bank interest receivable

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

Resources expended

(i) Raising funds

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).

(iii) Governance costs

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.

Fixed asset 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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

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THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (Continued)

Basic financial assets

Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

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 net income/(expenditure) for the year.

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 current 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 net income/(expenditure) for the year.

Financial assets are derecognised when:

(a) The contractual rights to the cash flows from the asset expire or are settled; or

(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or (c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

~15-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

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.

3 Investments

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2024|2023| |£|£| |Income|from|listed|investments|1,439,567|1,398,730| |Interest|receivable|198,229|50,357| |1,637,796|1,449,087|

----- End of picture text -----

4 Raising funds

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Investment|management|fees|159,286|158,424| |Grant|making| |Paid|23/24|Payable|in|Total| |future|years| |£|£|£| |Animals| |Harper|Asprey|Wildlife|Rescue|-|5,000|5,000| |Our Special|Friends|5,000|-|5,000| |People's|Dispensary|for Sick Animals|(PDSA)|-|2,240|2,240| |Prickles|and|Paws|Hedgehog|Rescue|-|15,000|15,000| |RSPCA|Bath And|District|Branch|-|10,000|10,000| |5,000|32,240|37,240| |Bereavement| |Compassionate|Friends|-|4,000|4,000|.| |Grief|Encounter|9,000|-|9,000| |Never|Alone|Project|-|7,110|7,110| |9,000|11,110|20,110| |Cathedral|—__—-|———|—___—_| |Gloucester|Cathedral|-|10,000|410,000|

----- End of picture text -----

5 Grant making

-16-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Grant making (Continued)
Paid 23/24 Payable in Total
future years
£ £ £
Community
All Saints Church, Whiteparish - 2,000 2,000
Azalea - 5,000 5,000
Beyond Detention 6,000 - 6,000
Cardiff Methodist Circuit - 5,000 5,000
Community Solutions North West LTD - 5,000 5,000
Edge Ministries - 5,000 5,000
Emmanuel Church Marlborough - 25,000 25,000
Grove Centre Church - 10,000 10,000
Holy Cross Church, North Bersted - 15,000 15,000
Holy Trinity, Hinckley 5,000 - 5,000
Manchester Action on Street Health - 5,000 5,000
Plunkett Foundation 4,114 - 4,114
Relate Worcestershire 6,000 - 6,000
SaintAmbrose, Leyland, Lancashire 5,000 - 5,000
Shefford Methodist Church 1,000 - 1,000
St James Church, Leckhampstead 10,000 - 10,000
St Michael le Belfrey with St CuthbertYork - 30,000 30,000
St Nicholas, Fyfield with Tubney - 10,000 10,000
StThomas, Stopsley, Luton - 400 400
Steep Turnpike Evangelical Church, Matlock - 7,700 7,700
37,114 125,100 162,214
Disability
Brainwave Centre Limited 2,000 - 2,000
Break 1,558 - 1,558
British DisabledAnglingAssociation 1,925 - 1,925
Chilterns Neuro Centre (formerly Chilterns MS Centre Limited) 10,000 - 10,000
Dingley FamilyAnd Specialist Early Years Centres 4,036 - 4,036
Disability Challengers - 9,900 9,900
Dogs forAutism - 6,000 6,000
Families United Network 8,237 - 8,237
Happy Days Children's Charity 6,000 - 6,000
Helen Arkell Dyslexia Centre 6,000 - 6,000
Kef Kids 1,200 - 1,200
Livability 15,231 - 15,231
Meath Epilepsy Charity 5,295 - 5,295
Multiple Sclerosis Trust - 5,750 5,750
Muscle Help Foundation 5,000 - 5,000
National Autistic Society - 15,042 15,042
Royal National Institute Of Blind People (RNIB) - 10,700 10,700
Share Community Limited - 6,630 6,630
Speaking Up Speaking Out 1,600 - 1,600
Stable Family Home Trust - 11,250 11,250
Step by Step London 3,229 : - 3,229
TeamDomenica 7,344 - 7,344

~17-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

ee

5 Grant making (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Thomley Hall Centre Limited - 10,000 10,000
Thornage Hall Independent Living - 50,000 50,000
Turning the Red Lights Green 5,000 - 5,000
UKVeterans Hearing Foundation - 3,298 3,298
United Response - 5,000 5,000
Whizz-kidz - 5,000 5,000
Wingate Special Children's Trust 21,059 - 21,059
104,714 138,570 243,284
DomesticAbuse —— —_— —
East Surrey DomesticAbuse Services (ESDAS) 9,000 - 9,000
Education —_— —_— —
Celtic Harmony 15,000 - 15,000
Elderly
Age UK Bexley - 6,000 6,000
Aylsham & District CareTrust 1,200 - 1,200
Friends ofthe Elderly 10,000 - 10,000
Gwennie's Getaways - 1,020 1,020
Stoke-on Trent and North Staffordshire Theatre Trust Limited
(NewVicTheatre) - 2,500 2,500
Tower Hamlets Friends and Neighbours - 3,598 3,598
11,200 13,118 24,318
Environmental
Earth Trust 1,000 - 1,000
Lawrence Weston Community Farm - 8,176 8,176
London Wildlife Trust - 9,650 9,650
4,000 17,826 18,826

-18-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Grant making (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Family
Abingdon Carousel 2,000 - 2,000
Alternatives Trust East London 5,000 - 5,000
Home-Start Walsall - 4,963 4,963
Our Kids First 2,860 2,800 5,660
St. Vincent's Family Project 4,166 - 4,166
14,026 7,763 21,789
Homelessness
Crisis UK - 14,860 14,860
Emmaus North East - 6,000 6,000
King'sArms Project (Bedford) - 3,000 3,000
Lifeline (Harrogate) Ltd - 3,250 3,250
Off the Streets - 5,000 5,000
OneYMCA - 25,000 25,000
Providence Row 8,000 - 8,000
Second Chance Charity 10,000 - 10,000
Winter Night Shelter Milton Keynes - 25,000 25,000
18,000 82,110 100,110
Hospice
Alexander Devine Children's CancerTrust 3,145 - 3,145
Darlington and District Hospice Movement 9,795 - 9,795
Hospiscare - 5,630 5,630
Lindsey Lodge Limited - 8,000 8,000
North Yorkshire Hospice Care 25,000 - 25,000
St David's Foundation Hospice Care 2,876 - 2,876
St Helena Hospice Limited 7,831 - 7,831
St Joseph's Hospice Hackney - 13,410 13,410
St Michael's Hospice (incorporating the Freda Pearce
Foundation) - 5,230 5,230
St Peter's Hospice - 5,000 5,000
St Wilfrid's Hospice (Eastbourne) - 5,000 5,000
Thames Hospice - 10,000 10,000
48,647 52,270 100,917

-~19-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Grant making (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Life- Limiting
Little Hearts Matter - 2,562 2,562
Ruddi's Retreat 5,784 - 5,784
5,784 2,562 8,346
Medical
Buckinghamshire Healthcare NHS Trust Charitable Fund - 20,000 20,000
Chronicle Sunshine Fund 4,088 - 4,088
Eric (EducationAnd Resources For Improving Childhood
Continence) 3,234 - 3,234
HeartsTogether - 10,000 10,000
Leicester Hospitals Charity - 10,000 10,000
. Maggie Keswick Jencks Cancer Caring Centres Trust - 30,000 30,000
Microphthalmia,Anophthalmia and Coloboma Support - 5,400 5,400
Oracle Cancer Trust - 7,000 7,000
Pancreatic CancerAction 2,000 - 2,000
Richard Dimbleby Cancer Fund - 10,000 10,000
Royal Hospital for Neuro-disability - 12,000 12,000
9,322 104,400 113,722
Mental Health
Beat (Formerly Eating DisordersAssociation) - 17,280 17,280
Birmingham Industrial TherapyAssociation Limited t/a Better
Pathways 6,000 - 6,000
Blyth Star Enterprises Limited 5,000 5,000
Day OneTrauma Support 5,000 - 5,000
Epiphany Trust 5,000 - 5,000
Ride High Limited - 20,000 20,000
Self Injury Support Lid - 5,250 5,250
Step One Charity - 4,000 4,000
Strength and Learning Through Horses - 3,000 3,000
Wellspring Therapy &Training 2,000 - 2,000
18,000 54,530 72,530

-20 -

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |5|Grant|making|(Continued)| |Paid|23/24|Payable|in|Total| |future|years| |£|£|£| |Museum| |Dyson|Perrins|Museum|Trust|-|6,647|6,647| |National|Trust|-|40,000|40,000| |Royal Air|Force|Museum|10,000|-|10,000| |Salisbury|and|South|Wiltshire|Museum|Trust|-|10,935|10,935| |Zurbaran|Trust|-|10,000|10,000| |10,000|67,582|77,582| |Music| |Absolute|Return|for|Kids|(ARK)|1,530|-|1,530| |English|National|Opera|13,000|-|13,000| |Ipswich|Hospital|Band|Limited|-|2,963|2,963| |St|Paul's|Cathedral|Foundation|-|25,000|25,000| |UK|Music|Masters|Ltd|(formerly|London|Music|Masters)|-|5,000|5,000| |14,530|32,963|47,493| |Poverty| |Bridging|the|Gap|(Manchester)|-|3,000|3,000| |Broxtowe|Community|Projects|-|6,000|6,000| |Church Army|in|partnership|with|Portman|House|Trust|19,202|-|19,202| |City|Gate|Community|Projects|-|950|950| |City|Gateway|Limited|5,000|-|5,000| |Community|Initiatives|South|West|Limited|-|20,000|20,000| |Cystic|Fibrosis|Trust|10,000|-|10,000| |Dementia|Support|1,000|-|1,000| |Dentaid|Limited|-|5,000|5,000| |Feeding|Coventry|-|5,000|5,000| |Feeding|Families|5,000|-|5,000| |Gateways|-|10,000|10,000| |Horsham|Matters|Limited|-|5,000|5,000| |Level|Trust|8,000|-|8,000| |Mustard|Tree|10,000|-|10,000| |New|Beginnings|Reading|-|3,000|3,000| |Nottingham|and|Nottinghamshire|Refugee|Forum|-|2,388|2,388| |Off The|Fence|Trust|Limited|-|5,000|5,000| |Prison Advice|and|Care|Trust|(PACT)|5,000|-|5,000| |Shop|and|Donate|-|6,512|6,512| |St|John's|Winchester|-|10,000|10,000| |St|Matthias,|Brighton|-|5,000|5,000| |Thanet|Community|Development|Trust|2,958|-|2,958| |Their Voice|~|4,800|4,800|

----- End of picture text -----

-21-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Grant making (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Three13 Training and Enterprise Ltd 15,000 - 15,000
University of EastAnglia 10,000 - 10,000
YMCA North Tyneside 5,409 - 5,409
96,569 91,650 188,219
Rehabilitation
Elizabeth Fry Charity - 3,000 3,000
Irene TaylorTrust - 3,500 3,500
Switchback Initiative 5,000 - 5,000
5,000 6,500 11,500
Rescue
Dorset and SomersetAirAmbulance Charity - 5,524 5,524
GreatWesternAirAmbulance Charity - 716,500 16,500
London AirAmbulance - 25,000 25,000
Magpas - 6,000 6,000
YorkshireAirAmbulance Ltd 8,000 - 8,000
8,000 53,024 61,024
Theatre
Cherwell Theatre 1,218 - 1,218
Kiln Theatre - 6,135 6,135
Old Vic Theatre Trust 2000 - 30,000 30,000
Royal Court Liverpool Trust Limited - 4,500 4,500
1,218 40,635 41,853
Veterans ——— —_—__ —_—
Royal British Legion Industries Ltd 12,000 - {2,000
Youth
Avenues Youth Project 5,000 - 5,000
BarnetYouth Zone 5,000 - 5,000
Bendrigg Trust - 5,000 5,000
Carney's Community - 5,400 5,400
Fight for Peace International 5,460 - 5,460
Garden Classroom - 3,200 3,200
GASP Motor Project Ltd - 5,000 5,000
Kidney Research UK 5,000 - 5,000
OnlyConnectUK 2,806 - 2,806

~22.

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Grant making (Continued)
Paid 23/24 Payable in Total
future years
£ £ £
Open Trail - 5,300 5,300
Rock UKAdventure Centres Limited 5,054 - 5,054
Shropshire Youth SupportTrust - 5,000 5,000
South Downs National Park Trust - 5,000 5,000
Sparks ofSuccess - 2,500 2,500
Tim Henman Foundation - 2,500 2,500
Young Gamers and Gamblers Education Trust 7,000 - 7,000
35,320 38,900 74,220
Subtotal before reductions 488,444 982,853 1,471,297
Prioryear grant commitments cancelled (100,606) - (100,606)
387 838 982,853 1,370,691
Grants made by Fund
income 321,626 694,286 1,015,912
Education 74,874 107,742 182,616
Research and heritage (8,662) 132,935 124,273
Wildlife - 47,890 47,890
387,838 982,853 1,370,691
Please see note 22 for2023 comparatives
6 Analysis ofaccruals for grants payable
Notes 2024 2025-26 Total
£ £ £
Grants commited during the year 694,423 288,430 982,853
Grants commited in prior periods 326,836 - 326,836
5 1,021,259 288,430 1,309,689
Analysis ofaccruals forgrants payable - prioryear 2023 2024-25 Total
£ £ £
Grants commited during the year 22 840,288 295,000 1,135,288
Grants commited in prior periods 238,569 - 238,569
13 1,078,857 295,000 1,373,857

-23-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Governance costs

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Governance|2024|2023|Basis|of|allocation| |costs| |£|£|£| |Staff|costs|50,000|50,000|50,000|Governance| |Bank|charges|208|208|205|Governance| |Other expenses|7,566|7,566|8,310|Governance| |Audit|fees|19,716|19,716|18,600|Governance| |Accountancy|6,924|6,924|10,785|Governance| |84,414|84,414|87,900|

----- End of picture text -----

Included within the above are amounts payable to auditor of £19,716 for audit fees (2023 - £18,600) and £5,724 fee for accountancy services (2023 - Enil) — inclusive of VAT.

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9

Employees

Number of employees

The average monthly number employees during the year was:

----- Start of picture text -----
|||||| |---|---|---|---|---| |2024|2023| |Number|Number| |7|7| |Employment|costs|2024|2023| |£|£| |Wages|and|salaries|50,000|50,000|

----- End of picture text -----

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

10 Net gains/(losses) on investments

;

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2024|2023| |£|£| |Gain/(loss)|on|sale|of investment|3,105,444|(2,464,941)|

----- End of picture text -----

-24-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11. ‘~Fixed asset investments

Unlisted
investments
£
Cost or valuation
At 31 March 2023 39,060,817
Additions 465,229
Unrealised (loss)/gain on revaluation 3,105,444
Movement in liquid assets (468,301)
At 31 March 2024 42,163,189
Carrying amount
At 31 March 2024 42,163,189
At 31 March 2023 39,060,817
2024 2023
£ £
Investments at fair value comprise:
Historic cost 36,000,000 35,534,771
Unrealised gains 6,162,221 3,056,777
Liquid assets 968 469,269
42,163,189 39,060,817

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

12 Debtors

12 Debtors
2024 2023
Amounts falling due within one year: £ £
Other debtors 35,643 32,482
13 Creditors: amounts falling due within one year
2024 2023
Notes £ £
Accruals for grants payable 6 1,021,259 1,078,857
Accruals and deferred income 31,536 23,830
1,052,795 1,102,687

-25-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14 Creditors: amounts falling due after more than one year

15

----- Start of picture text -----
|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Accruals|for|grants|payable|288,430|295,000| |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|£1,341,225|(2023:| |£1,397 ,687).| |Share|capital|2024|2023| |£|£| |Ordinary|share|capital| |Issued|and|fully|paid| |5|Ordinary|shares|of £1|each|5|5|

----- End of picture text -----

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Movement|in|funds| |Balance|at|1|Incoming|Resources|Revaluations|Balance|at|31| |April|2023.|resources|expended|gains|and|March|2024| |losses| |£|£|£|£|£| |Permanent|endowments| |Expendable|Endowment|Fund|26,121,176|-|-|3,105,444|29,226,620| |26,121,176|-|-|3,105,444|29,226,620| |Unrestricted|funds| |Movement|in|funds| |Balance|at|1|Incoming|Resources|Transfers|Balance|at|31| |April|2023.|resources|expended|March|2024| |£|£|£|£|£| |Unrestricted|Fund|16,699,883|1,637,796|(1,259,611)|(500,000)|16,578,068| |Education|Fund|1,376,983|-|(182,616)|-|1,194,367| |Research|and|Heritage|Fund|96,088|-|(124,273)|500,000|471,815| |Wildlife|Fund|502,415|-|(47,890)|-|454,525| |18,675,369|1,637,796|(1,614,390)|-|18,698,775|

----- End of picture text -----

The. designated funds reflect our commitment to specific areas of importance, allowing us to make a meaningful impact in the realms of education, research, heritage, and wildlife conservation.

It was agreed to transfer £500,000 from the Unrestricted fund to the designated Research & Heritage fund in order to cover future donations.

-26-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

18 Analysis of net assets between funds

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Expendable|Share|capital|Total| |Income|Endowment| |£|£|£|£| |Fund|balances|at|31|March|2024|are| |represented|by:| |Investments|12,936,569|29,226,620|-|42,163,189| |Current|assets/(liabilities)|6,050,636|-|5|6,050,641| |Long|term|liabilities|(288,430)|-|-|(288,430)| |18,698,775|29,226,620|5|47,925,400| |19|Cash|generated|from|operations|2024|2023| |£|£| |Surplus/(deficit)|for|the|year|3,128,850|(2,876,780)| |Adjustments|for:| |Investment|income|recognised|in|statement|of financial|activities|(1,637,796)|(1,449,087)| |Fair|value|gains|and|losses|on|investments|(3,105,444)|2,464,941| |Movements|in|working|capital:| |Movement|in|liquid|assets|468,301|(3,622)| |(Increase)/decrease|in|debtors|(3,161)|2,040| |(Decrease)/increase|in|creditors|(56,462)|269,933| |Cash|absorbed|by|operations|(1,205,712)|(1,592,575)|

----- End of picture text -----

20 ~Related party transactions

There were no disclosable related party transactions during the year (2023- ENil).

21 Control

The trustees consider there to be no overall controlling party.

22 Comparatives for Grant making year ended 31 March 2023

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Paid|23/24|Payable|in|Total| |future|years| |£|£|£| |Animals| |Cats|Protection|15,000|-|15,000| |Cuan|Wildlife|Rescue|-|10,000|10,000| |Falconry|Centre,|Hagley|Ltd|-|4,200|4,200| |Freshfields Animal|Rescue|3,000|-|3,000| |Horse|Sense|Wirral|5,000|-|5,000| |Mayhew Animal|Home|4,340|-|4,340| |National Animal|Welfare Trust|10,000|-|10,000|

----- End of picture text -----

-27-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22 Comparatives for Grant making year ended 31 March 2023 (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Pet Food Bank Service - 5,000 5,000
Team Poundie 2,000 - 2,000
Zoological Society ofLondon (ZSL) - 50,000 50,000
39,340 69,200 108,540
Arts ——_—- — ——_—
Rambert School of Ballet
& Contemporary Dance		 5,000 - 5,000
Bereavement
Cruse Bereavement Care - 10,000 10,000
Lullaby Trust - 7,000 7,000
- 17,000 17,000
Cathedral —— — ——
Corporationof Liverpool Cathedral - 20,000 20,000
Community
Bath, Weston, All Saints - 10,000 10,000
Brighton Fringe Ltd 300 - 300
Castle Point Social CarScheme Limited - 5,000 5,000
Church of St John the Evangelist, Kingston Park 240 - 240
Community Heart Productions - 4,000 4,000
Explore York Libraries andArchives Mutual Ltd 3,000 - 3,000
GodFirst Christchurch 5,000 - 5,000
His Place - 15,000 15,000
Jewish TrainingAcademy for Girls (JTAG) Ltd - 4,440 4,440
KEYS Project 450 - 450
Loughborough Junction Action Group 2,592 - 2,592
Medboume Village Hall - 10,000 10,000
PoplarHARCA - 2,820 2,820
Sailors’ Society 3,000 - 3,000
St Bamabas Church, Peasemore - 9,163 9,163
St Edward's Church, Eggbuckland (Church Hall) 3,240 - 3,240
StJames Church, Staunton - 5,000 5,000
St Mary Magdalene, Shabbington, Buckinghamshire - 5,000 5,000
St. JamesThe Great,Audlem - 5,000 5,000
St. Margaret's Church
, Stoodleigh		 - 7,000 1,000
St. Mary's Church, Hartpury - 3,000 3,000
Tenbury Community Pool Ltd 5,927 - 5,927
West Somerset RailwayAssociation - 3,150 3,150
Winchester Pavilion Project - 5,000 5,000
23,749 87,573 111,322

~ 28 -

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22 Comparatives for Grant making year ended 31 March 2023 (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Disability
Action For Kids Charitable Trust 2,000 - 2,000
Aim Up - 10,000 40,000
Alkaptonuria Society Ltd - 5,000 5,000
Allsorts Gloucestershire - 1,897 1,897
ASPIRE (Association for Spinal Injury Research,
Rehabilitation, and Reintegration) 2,300 - 2,300
Bexley Beavers 700 - 700
Blind Veterans UK - 10,000 10,000
BucksVision 900 - 900
C F Dream Holidays 4,395 - 4,395
Camphill Rudolf Steiner School Ltd (Camphill School
Aberdeen) 20,000 20,000
Carers First 10,800 - 10,800
Cerebra - For Brain Injured Children and Young 2,000 - 2,000
CompassDisability Services 3,893 - 3,893
Croydon VoluntaryAssociationfor the Blind 8,407 - 8,407
Ethel Trust 2,500 - 2,500
FitzRoy Support - 4,400 4,400
Foundation For Conductive Education - 7,460 7,460
Garwood Foundation - 50,000 50,000
Helping Disabilities Trust 2,609 - 2,609
JigsawTrust 4,692 - 4,692
Kisharon - 9,986 9,986
Lake District Calvert Trust 2,640 - 2,640
Liquid Listening - 2,415 2,415
Motor Neurone DiseaseAssociation
- MNDA		 5,000 - 5,000
NMC MidlandsLtd - 3,535 3,535
Open Country 5,000 - 5,000
Options for Supported Living 1,125 - 1,125
Peter Pan Centre Ltd 1,860 - 1,860
Roald Dah!'s Marvellous Children'’sCharity 1,790 - 1,790
Sandcastle Trust - 5,000 5,000
Saracens Sport Foundation - 18,742 18,742
Seashell Trust - 2,867 2,867
Snow Buddies UK - 3,073 3,073
Society for Mucopolysaccharide Diseases - MPS 10,000 - 10,000
Springboard Opportunity Group 2,005 - 2,005
VICTA Children Lid 2,550 - 2,550
York Blind & Partially Sighted Society (MySight York) 2,283 - 2,283
79,449 154,375 233,824

-29-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22 Comparatives for Grant making year ended 31 March 2023 (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
DomesticAbuse
First Light South West Ltd 4,000 - 4,000
Jericho Foundation - 15,000 15,000
Oxfordshire SexualAbuse and Rape Crisis Centre - 3,000 3,000
4,000 18,000 22,000
Education _ —_—— ——
Access Project 5,000 - 5,000
Elderly
Birmingham Jewish Community Care 4,560 - 4,560
Bridge Care Limited - 20,000 20,000
Dementia Support - Hampshire & IOW 322 1,178 1,500
Jewish Care - 10,000 10,000
4,882 31,178 36,060
Environmental —_—— — ——
Caring For Life 1,000 - 1,000
Family
Bonny Downs CommunityAssociation (BDCA) 4,184 - 4,184
Children'sAdventure Farm Trust 8,240 - 8,240
Hessle Road Network 2,978 - 2,978
Home- Start West Berkshire 1,000 - 1,000
Why me? UK - 2,964 2,964
16,402 2,964 19,366
Health & Wellbeing
Progressive Farming Trust Limited 4,551 - 4,551
StrokeAssociation * 20,000 20,000
4,551 20,000 24,551
Homelessness
1625 Independent People 5,000 - 5,000
Amber Foundation - 5,266 5,266
Connection Support 5,000 - 5,000
Emmaus Sheffield - 5,000 5,000
Emmaus South Lambeth Community - 300 300
HandsOn London 1,800 - 1,800
Renova Trust - 7,500 7,500
ResponseOrganisation 10,000 - 10,000

= 30-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

22 Comparatives for Grant making year ended 31 March 2023 (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Routes to Roots (Poole) ClO ~ 25,000 25,000
Waltham Forest Churches Night Shelter-WFCNS Limited - 15,400 15,400
Your Place (London) Limited (Previously, CaritasAnchor
House)		 - 410,000 10,000
21,800 68,466 90,266
Hospice
Ashgate Hospicecare 7,164 7,164
Harlington HospiceAssociation Limited - 2,000 2,000
Havens Hospices - 10,000 10,000
Hospice Charity Partnership (known as Birmingham Hospice) - 10,400 10,400
Lifelites 5,000 - 5,000
North London Hospice - 25,000 25,000
North Yorkshire Hospice Care - 5,760 5,760
Overgate Hospice 5,014 - 5,014
Pilgrims Hospicesin East Kent - 4,314 4,314
South Bucks Hospice 3,000 - 3,000
St Clare West Essex Hospice Care Trust - 10,000 10,000
St John & St Elizabeth Charity 2,000 - 2,000
Willen Hospice 10,000 - 10,000
32,178 67,474 99,652
Life- Limiting
Chance to Shine Foundation Limited - 4,975 4,975
Hope ForTomorrow - 8,083 8,083
Joss Searchlight 1,500 - 1,500
Odyssey Project Limited - 4,955 4,955
1,500 18,013 19,513
Wedical
Action Medical Research 10,900 - 10,900
Brainstrust - 4,000 4,000
ChildhoodEye CancerTrust (CHECT) 5,000 - 5,000
Children's Cancer and Leukaemia Group 7,800 - 7,800
Cobalt Health 10,000 - 10,000
Dudley Group NHS Foundation Charty 3,420 - 3,420
Institute of Cancer Research 16,678 - 16,678
Murray Parish Trust - 10,000 10,000
Prostate Cancer UK - 10,000 10,000
Royal Free Charity - 31,438 31,438
Royal Marsden Cancer Charity 62,774 - 62,774
St Bartholomew's Heritage Medical - - 90,000 50,000
Strongbones Children's CharitableTrust 6,757 - 6,757
Target Ovarian Cancer - 10,000 10,000
UniversityHospitalsBirminghamCharity - 5,000 5,000

-31-

;

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

22 Comparatives for Grant making year ended 31 March 2023 (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
University ofManchester - 250,000 250,000
Wellbeing ofWomen (WOW) 10,000 - 10,000
West Hertfordshire Teaching Hospitals NHS Trust Charity - 10,000 10,000
133,329 380,438 513,767
Mental Health
Acacia Family Support 2,000 - 2,000
Arts and Minds (Cambridgeshire and Peterborough
Foundation for theArts and Mental Health) - 5,000 5,000
Birmingham Women's and Children'sHospital - 5,520 5,520
BrentAdolescent Centre ForYoung People (BCYP) 3,328 - 3,328
British Horse Society 5,000 - 5,000
Growing Well Limited 3,000 - 3,000
HUMEN 10,000 - 10,000
Normandy Community Therapy Garden 11,748 - 11,748
Oakleaf Enterprise - 1,550 1,550
35,076 12,070 47,146
Museum
Brunel Museum - 11,500 11,500
Coldharbour Mill Trust Limited - 10,000 10,000
Milton Keynes Museum Trust Limited - 20,000 20,000
Wallace Collection - 20,000 20,000
- 61,500 61,500
Music
National Youth Brass Band of Great Britain 1,500 - 1,500
Royal Schoo! ofChurch Music 15,230 - 15,230
16,730 - 16,730
Poverty
Achieved Dreams - 500 500
Aspirations Program CiO 42,000 - 12,000
Blooming BlossomsTrust - 4,500 4,500
Christians Together Calderdale - 5,000 5,000
City Harvest 5,000 - 5,000
Cystic Fibrosis Trust 5,000 - 5,000
FaithworksWessex - 5,000 5,000
Friends For Families (Sevenoaks) 10,000 - 10,000
Lincoln St Swithin 4,547 - 4,547
OffThe Fence Trust Limited - 3,000 3,000
Orchards 546 - 546
ParishTrust 6,000 - 6,000

-32.-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22 Comparatives for Grant making year ended 31 March 2023 (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Parochial Charities 6,572 - 6,572
Racing Welfare 5,000 - 5,000
Richmond Furniture Project - 5,000 5,000
Sandwell African WomenAssociation - 2,000 2,000
School- Home Support Service (UK) 5,000 - 5,000
Watford &Three Rivers Refugee Partnership 5,000 - 5,000
YMCA East Surrey 5,000 - 5,000
69,665 25,000 94,665
Rehabilitation
Headway Cambridgeshire - 2,400 2,400
Nelson Trust - 10,000 10,000
- 12,400 12,400
Rescue —— —— —_——
Bravo Medics - 29,698 29,698
Veterans
ABFThe Soidiers' Charity (2 grants) 2,000 10,700 12,700
Open University 7,000 - 7,000
Royal Air Force Benevolent Fund 10,000 - 10,000
Walking With the Wounded 5,000 - 5,000
24,000 10,700 34,700
Youth
Active Hope Ltd - 4,100 4,100
Andrew Simpson Foundation 4635 - 4,635
Church Pastoral Aid Society (CPAS) 5,000 - 5,000
Create (Arts) Limited - 3,414 3,414
Discovery Sailing Project 1,600 - 1,600
Drama Expressions for Children 4,200 - 4,200
Kenelm Youth Trust Limited - 8,400 8,400
Leeds Children'sCharityat Lineham Farm 4,500 - 4,500
Mayor's Fund for London 6,265 - 6,265
National Youth Jazz Orchestra - 4,000 4,000
Northdale Horticulture - 4,400 4,400
Portsmouth Sail Training Trust (PSTT) - 1,125 1,125
Quest for Leaming 2,250 - 2,290
ReachOutYouth 5,770 - 5,770
StAndrew's Club 1,500 - 1,500
StarlightChildren's Foundation 4,728 - 4,728
StreetGamesUK 4,000 - 4,000

-33-

THE HOBSON CHARITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22 Comparatives for Grant making year ended 31 March 2023 (Continued)

Paid 23/24 Payable in Total
future years
£ £ £
Talent- Ed Education 4,025 - 4,025
Villiers Park Educational Trust - 2,000 2,000
Youth & Community Connexions - 1,800 1,800
Youth Adventure Trust 1,370 - 1,370
-
49,843 29,239 79,082
Subtotal before reductions 567,494 1,135,288 1,702,782
Prioryear grantcommitments cancelled (88,180) - (88,180)
Total 479,314 1,135,288 1,614,602
Grants made by Fund
Income 331,429 555,913 887,342
Education 71,739 109,275 181,014
Research and Heritage 36,875 400,900 437,775
Wildlife 39,271 69,200 108,471
Total ————— —_— —_—
479,314 1,135,288 1,614,602

~ 34 -