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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GC2
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
- The Hobson Charity was founded in 1985 and was established to achieve the following objectives:
- ¢ The relief of poverty, suffering and distress of those in need in the United Kingdom, including the provision of facilities for recreation and leisure in the interests of their social welfare;
- ¢ The advancement of education amongst the inhabitants of the United Kingdom;
- e The furtherance of other charitable purposes beneficial to such communities of the United Kingdom as the charity may think fit; and
- To make grants to such associations, trusts, societies or corporations established for charitable purposes
- The trustees will consider applications for grants which are in accordance with the stated objectives of the charity and: ° are from a registered charitable organisation based in England and Wales;
- do not include salary, people or core running costs of any kind; and
- ® are not repeat or multi-year requests.
## 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods. and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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.
- In so far as the trustees are aware:
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:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2008.
## 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:
- the information given in the Trustees Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees Report has been prepared in accordance with applicable legal requirements.
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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:
- the information given in the Trustees Report is inconsistent in any material respect with the financial statements; or
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- - we have not received all the information and explanations we require for our audit.
## 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:
- ¢ obtained an understanding of the nature of the sector, including the legal and regulatory framework that the charitable company operates in and how the charitable company is complying with the legal and regulatory framework;
- ¢ inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances. of fraud;
- e discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.
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
- 1 Accounting policies
## 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.
-13-
THE HOBSON CHARITY LIMITED
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
- 1 Accounting policies (Continued)
## 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.
~-14+
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 -----**
- 16 Endowment funds
**----- 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 -----**
- 17 Unrestricted funds
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 -