Charity Registration No. 328182 THE HARDING TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS for the year ended 5 April 2023
THE HARDING TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr John Paul Claude Fowell Mr Michael Norman Lloyd Mr Geoffrey George INall Mr Richard Oavid Pl8lt Charity number 328182 Independent examlner Jean Ellis BA FCA CTA Castle Chambers 43 Castle Strèet Liverpool L2 9TL Accountants DSG Chartered Accountants Castle Chambers 43 Castlè Street Liverpool L2 9TL Solicitors Brabners LLP Horton House Exchange Flags Liverpool L2 3YL Investment advisors Canaccord Genully Wealth Management Saggar House Princes Drive Worcester IfvR1 2PG
THE HARDING TRUST CONTENTS Page Trustees. report Independent examiner's report Statement ol financial a¢liwlies Balance sheet Notes to the financial slalemenls 10-17
THE HARDING TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2023 The trusltses present their annual report and financial slalemenls for the year ended 5 April 2023. The finanaal slalemenls have been prepared in aceordance with the accounting policies sel oul in note 1 to the financial statements. Objectives and activitiès Charitable obje¢ts The charitable objects of the Harding Trust are lo apply the funds held for Ihe benefit of such charitable objects and purposes as the Iruslees may in their discretion think fit which promote, improve develop and maintain public $dueation in and appreciation of the art and sCl8n¢e of musi¢. The Iruslees may also, at their discretion, apply up lo 20% of the incorne generated for the benefrt of other charitable 0.ect$ and purposes. Alms of charity The aims of the charity are lo apply, al the discli0n of the trustèès, grants to the charitable objects, mainly but not exclusively in Staffordshire and the surrounding areas. The trustees purchased a Steinway D Grand Piano INO. 4e67001 in August 2011 with the aim of further providing way of assisting organisalions lo pmiride for concert performances. How achièvèmant of aims furthers objectives The Iruslee5, by sponsoring or by otherwise supporting public cOnrtS, re¢1181s and performances by amateur and professional organisalions. as well as piano hire to organisations have been able to achieve their charitab18 objects. Strategl¢s for achlevlng aims The Iruslees, main strategy to achieve their aims continues lo be grant making. Statement of compliance with Charity Commission guidance The trustees have paid due regard lo the Charity Commission's guidance on public benefit in deciding the activities undertaken by the Charity during the year. Th8 trustees are satisfied that the infom)ation prowded in the réport and accounis meet the public benefit reporting requirernents. Charitable activities The only operational acliwlies other than those involved in the operation of the investment portfolio is the provision of the Steinway D Grand Pi8no for hire by organisalions lor conceri performances. Grant making policy The charitable trust Is mainly involved in grant making in furtherance of the charily's airns. Grants made during the year are reoognised in the accounts in the period in which they are due and payable.
THE HARDING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 A¢hièvoments and perfomianee Charitable achievements The trustees are happy that by applying their intended musical granls to various societies, festivals, trusts, perforManS and Ihealres they have been able lo fulfil their aims in providing sponsorship and otherwise supporting various public Conrts. Tealals and performan8 by both amaleur and professional organis81ions. In addition lo the musical grants, the Iruslees h8ve also been able to make sev8ral donations to var*ous hospices and other organisalions. The charitable trust has been able lo supply the Steinway D Grand an0 il acqLJired to various organisalions for concert perfoiman¢es. The trustees have appointed Stoke on Trent Festival Limited Iregislered chaiily no 5006871 as agents lo deal with all the praclio8lilies of adminislration in dealing with the hire of the piano. They report and account lo the trustees on an annua5 basis and their activities are contained within the body of these accounts. The piano's storage and mainlenance was undertaken by Gilberts Piano Storage. Investment perfomianeè Most of the Irusl's capital is invested on the stock rnatket, and throughout the year the total return of the portfolio fell within the trustee5 acceptable variance of the performance benchmark. Origoing invaslmenl advice is provided by Canaccord Genuily Wealth Management in conjunction with the trustees. The market value of the portfolio on 5th April 2023 was £5,361.548 {£5,492,295 in 20221.
THE HARDING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Flnancial review Rèvlew of financial position The charitable trusvs overall fund balanc8s for the year total £5,815,253 compared with £5,988,397 for 2022. After taking into consideration total nel income and expenditure, nel gains on inveslmenls, commitments lo charitable donations and govtrrnance costs, there was an overall decrease in the net movement in funds of £153,144 compared lo a increase of £255,330 in 2022. The trustees have also reviewed their grant making capability and are happy, going foward, that there will be sufficiènt income year on year to enable them to meet Ihe financial commitments of Ihe charitable trust. The trusteès consider their investmenls as expendable endowmen15. prOdIng a relatively secure and predictable stream of incorne from which to make grants. The Iruslees airn lo dislrfbLJle as large a percentage ol the income, nel of expenses. as posslble in each financi81 year and therefore do not rnaintain income reserves as su¢h. However, any unrealised gains and income levels on investments held are continually rewewed by the Irusl8es at their meetings to ensure that they have suffiaent funds to meèt their objectives. Reserves polsey The policy of the charitable trust is that unrestricled funds whi¢h are of a capital nature should be maintained as far as possible to achiéve future growth, whilst those of an income nature should be ulilised as far as possible lo meet the grant making activity and cover the annual expenditure re1811no to ils charitable activities involved in maintaining and supplying the piano. As such, the Iruslees are happy th81 sufficient funds have been maintained lo meet their charitable objecliv8S throughout the yeai. Investment policy Th¢ trustees are responsible for the investment decision making process whilst the investment managers act in an 8dwsory capacity. Qngoing adwce is initiated by the inveslmenl managers and is also given wh8n requested by the trustees where issues arise. The trustees, in eonjunciion with the investment managers, are to avoid exp05urÈ to investments which are deemed lo be unsuitable in the context ol the trust's obje¢lives when considering the portfolio as a whole. The investment managei is also lo have ieg8rd to the need for diversifieation and the lolal amounl invesled in a single company or seourity should not excegd 5°/0 of the market value of the Irusl's lolal portfolio at the time ol purchas8, or 10°/0 of the market value of the Iiusl's total portfolio al any lime. The benchmark upon which the Investment portfolio is measured is based upon the MSCI WMA Private Investor 8alanced. The investment m8n8g8rs will provide haK year valuations and reports in April and October and will altend the Irust8es' AGM. Valuations are also available online to all trustees. The Iruslees will inform the investment manager of any relevant changes to the trust objectives and 8ny other developments that result in a required change of investmènt polioy. There are no specific reslriclions of investment powers under the goveming deed., the trustees have full discretion over the investment5. The investment manageis are employed on an advisory basis and the trustees ¢onsider proposals with a view lo adherence to their investment policies. The Iruslees regularly remew their investmenl policies and do nol feel any arnendments are necessary.
THE HARDING TRUST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Risk managemènt The Irustee5 have considered the major risks to which Ihe charity is exposed and hava &stabSished systems and predureS lo manage these. This includes the appointment of solicitors and accounlanls to provide legal advice, accountancy and se¢ielarial services.. investment advisors lo provide continuous oversight of the trust's investment portfolio,. and thè trustees IhemsehJ8s have agreed lo delegate certain funolions lo those with the apprapiiale skills lo monitor the affective management of the trust and the application of funds lo fulfil their charitable objectives. The Irustees consider th& variability of invèstment returns con8t(¢ute the charity's major financk21 risk and have pul the investment policy in place lo manage that risk. Plans for thè future The trustees are satisfied that their current poliaes are suffident to meet Ihe objecti$ of the trust and continue lo review Ihe posilion. A J Harding Will Trust Mrs Sally Warnock, the life lenanl of the A J Harding Will Trusl has adwsed the trustees of the Will Trust that when the Irusl wmes to an end the capital of the A J Harding Will Trusl does a¢¢rue lo the Harding Trust. Mrs W8inock believes that her late husband, Mr Anthony James Harding. would have wished the income generated by his estate lo be applied for the benefit of sporting charities for the young. The Iruslees fully understand and appreciate the senlirnenls expressed by Mrs W8mock in this regard. They have no hesitation in agreeing to lake into account these wishes within the ambil of the Harding trust deed. 11 was agreed that this note will be included in the annual accounts of the H8rding Trust to ensure consideration when the funds are applied lo the Harding Trust.
THE HARDING TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Structure, govemance and management Nature of goveming document and charlty constitution The charitable trust was established by deed dated 14th April 1989 by Michael Eric Harding. Subsequent to the original deed. a supplemental deed dated 4th May 2001 irrevocably amended the objects of the Charity using Ihe powers contained in clause 7 of the original deed lo their present formal. The supplemental deed daled 4th May 2001 has been submilled lo and approved by the Charily Commission. The trust was originally constiluted by the inlroductK)n of cash and investments for the purposes of investment and th8 fulfilment of the chgritable aims of the Iiusl. Trustees Thè trustees who served during the year and up lo the dale of signalLJre of the financial slalemÉnts were.. Mr John Paul Glaude Fowell Mr Michael Norman Lloyd r Geoffrey George Wall Mr Richard David Platt Recruitment and appolntment of trustèès The power lo appoint further Iruslees rests with the existing trustees who continue lo r8wew the fulure requirements of the charitable trust and profèssional experience whèn considering the appointment of new Irusle8S. Oryanisational structure The trust is mainly a grant making charity. In general, Geoff Wall and Richard Plall act in conjUtiOn with the inveslment managers. currenty C8naccord Genuity Weallh Managemenl, in respect of the investment portfolio whilst Mike Lloyd and John Fowell deal with the charitable donations induding identifying and liaising with organisations whose adivities help lulfil the objedives of the charity. How de¢ision$ arè made The charity is run by a body of Iruslees who liaise regulaily amonost Ihemselves and with their professional advisors and formally rewew the policies and objectives of the Iiusl once a year. The Iruslees act in accordance with the decisions made at these meetings wth the appropriate actions minuted. Induction and tralnlng of trusteès Incoming Iiuslees wi11 be made 8waie of their responsibilities and the trust's obje¢lives from the existing trustees and their professn81 adwsors at the d81e ol their appointment. Th8 trustees are kept up to date on relevant matters by their profession818dvisors. Operational rèstrlctlons There are no speeifie restrictions Imposed on the Iruslees by thè goveming document concerning Ihe way the Charity can operatè. Spèclal investment powers Therè are no specific restrictions on the Iruslees investment powers. The trustees have decided for the time being lo impose reslrictions of their own on the fund managers as listed in the invèstment policy. Asset cover for funds The trustees are satisfied there are sufficient assets to meet the charilvs obligations.
THE HARDING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Trustee approval and signature The truslees. report Was appmved by iha Board of Trustees. MrG Truslee y George Wall Mr Richard David Platt Trustee Oaled: ..Icè. .
THE HARDING TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HARDING TRUST I report lo thè trustees on rny examination of the finanaal statements of The Harding Trust {Ihe charity) for the year ended 5 April 2023. Rèsponsibilities and basis of report As the trustees of the charity you are responsibl8 for thè preparation of the financial s18lements in accordance with the requirements of the Charities Act 2011 (the 2011 Actl- I report in rospe¢t of my examination of the charity's finanaal stslemenls carli out under section 145 of the 2011 Act. In cairyng out my examinat I have followed all the applicable Direcllons given by the Charity Commission undei section 145{51{bl of Ihe 2011 Act. Independent examinerfs statement Your attention is drawn lo the fact that the charity has prepared financial statements in aordanCe wSlh Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Slandaid gpplicable in Ihe UK and Republic of Ireland {FRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recornmended Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. understand that this has been done in order for financial slalements to prowde a true and falr vièw in accordance wlh Generally Accepted Aeeounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm (hal no m*lers have come to my allenlion in connection with the examination giving me cause to believe that in any maleiial re$pe¢t'. accounting records were not kepl in respect of the charity as required by section 130 of thé 2011 Act,. or the financial statements do not accord with those records.. or the financial statements do not cornply with the applicable requirements conceming the form and conlenl of accounts set out in the Chaiilies {A¢counls and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair wew which is not a maller considered as part of an independent examination. I have no concerns and have come aeross no other mallers in conne¢tion with the examination lo whlch alleNIIoii should be drawn in this report in order lo enable a proper understandlng of the financial slalemenls lo be reached. Jean Ellis BA FCA CTA Independent Examiner 0110212024 Dated..
THE HARDING TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2023 Unrèstrlcted Unrestricted funds funds Revenue Capltal 2023 2023 Totsl Total 2023 2022 Notes Inveslments 179.134 179,134 204,430 Raising funds 18,889 18.889 20,120 Charitable acliwlles 172,690 8,575 181,265 136,601 Total Tesources expended 172,690 27,464 200,154 156,721 Nel gainslllossesl on investments (132.1241 {132.1241 207,621 Net movement In funds 6,444 {159,5881 1153,144) 255.330 Fund balances al 6 April 2022 324,482 5.643,915 5,968,397 5,713,067 Fund balances at S April 2023 330,926 5,484,327 5,815,253 5.968,397 The statement of financial aotivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclwities.
THE HARDING TRUST BALANCE SHEET AS AT5APRIL 2023 2023 2022 Notes Fixèd assets Tangible assets Investments 11 12 19,450 5,381,548 21.784 5,492.295 5,380,998 5,514,079 Current assets Cash al bank and in hand 458,826 477.622 Crèditors: amounts falling due within one yèar 14 124.5711 123,3041 Nel current assets 434,255 454,318 Totsl ass&ts less current liabilitles 5.815,253 5,968,397 Unrestricted funds Capil31 funds RevenLJe funds 5,484,327 330,926 5,643,915 324,482 5,815.253 5,968.397 The financial statements were approved by the Trustees on MrGe Trustee ey Gèorge Wall Mr Richard David Platt Trustee
THE HARDING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Accounting policlès Charlty information The Harding Trust is a charitable trust, thaiily registration number 328182, created by Michael Eric Harding by a deed dated 14th April 1989 and subject lo a subsequent deed dated 4th May 2001. 1.1 Accounting Convèntlon The accounts have been prepared in accordance with the charily's Irust deed. the ChaTilies Act 2011 and 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods commencing from 1 January 20161. The eharily is a Public Benefit Entity as defined by FRS 102. The ¢harily has taken advantage of the proirisions in the SORP for charilies applying FRS 102 Update Bulletin 1 not lo prepare a Statement of C85h Flows. Thé financial slalemenls are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial slalements are rounded to the nearest £. The accounts havè been prepared undei the historical cost convention, modified to include the required revaluation of financial instruments at fair value. The principal accounting policies 8dopled are set out below. 1.2 Going concfrm Al the time of approving the finanaal slalemenls, the trustees have a reasonable expedalion that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Iruslees continue lo adopt the going cone6rn basis of accounting in prep81ing the financial slatemenls. 1.3 Charitable funds The charity only consists of unrestricted funds which are available for use at the disuelion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other PUTPOSeS. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance Conditions have been mel, the amounts can be measured reliably, and it is probable that income will be reIved. Apart from the receipt of eapital from the A J Harding Trust it is not anliGipaled that any further cash donations or legacies are to be made lo the charitable trust. Any income from the hire of the piano is measured 81 the fair value of the consideration received or receivable and should represent amount5 re1vable for goods 8nd seNces provided in the norm81 course ol the charitable actiiity attributed lo the piano. It is not anticipated th31 any SLJrplus income will be ieceivable from this adivity but one where the acliwly incurs an ongoing expense. 1.5 Expendlturè Expenditure, induding grants made. is recognisable when and to the exlent that the liability is incurred. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured at cost or valualion, nel ol depreaation and 8ny impairment losses. Depreciation is rècognised so as to WTite off the cost or valuation of assets less their residual values over thtsir useful lives on the following bases.. Plant and equipm8nt (Piano) 5Qh per annum on a slraighl-line basls 10-
THE HARDING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accounting policies (Continued) The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies. 1.7 Fixed asset investfflents Fixad asset investments are initially measured al transaction price including lran5aclion Costs, and are subsequently measured at fair value at each reporting date. Change5 in fair value are recognised In nel incomellexpendilurel for the year. Fair value on fixed asset investments is measured as at the balance sheet date as follows.. Listed securilies al mid market valu8', Listed secLJrilies held in foreign currencie8 at mld market value 8nd Iransl8led into their sterling 8qUIV31ent al the accounting date., Goveinrnent Securities at mid market value and do not include interest accrued. Unrealised gains and losses are includéd on the statement of financial activities. 1.8 Impairment of fixed assets Al each reporting end date, the charity reviews the carrying amounts of its tangible assets lo determine whether there is any indicallon that those assels have suffered an impairment loss. If any such indrAlion exists, Ihe recoverable amount of IhÈ assèt is estimated in order to determine the extent ol the impairment loss. 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-lerm liquid investments with original malurilies of the months or less. In the unlikely event that a bank overdraft arises, It would be shown within borrowings in currenl liabilities. Basic financial8ssèts Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction pricè including transaction costs and are subsequently carried al amortised cost using the effective interest method unless th8 arrangement constitutes a financing Iransaclion. where the transaction is measured al the present value of the future receipts discounted at a market rate of inlerest. Financial assets classified as re1vable within one ytsar are not amortised. Basic financial liabilitles Basic financial liabilities, including creditors and bank loans are initially recognisèd al transaction priee unless the arrangement constitutes a finanang transactn, where the debt instrument is maasur6d al the present value of the fLJture payments discounted at a market rate of interest. Financial liabilities ¢lassified as payable within one ye8r 8r& not amortised. Trade creditors are in respect of the hire of the piano and Other creditors represent obligations to pay for goods or services that have been a¢quir8d in the ordinary course of operations from suppliers. Amounts payable are classified as Current li8bililies if p3ytnent is due within one year or less. 11 not, they are presenled as non-current liabilities. Trade creditors and Qlher ¢iedilors a re¢ognised initially al transaction price and subsequently measured at amortised cost using the effective inleiesl tnelhod. Derecognition of financial liabililies Financial liabilitiès aré dèrecognised when the tharity's contractual obligations expire or are dischargtsd OT cancelled.
THE HARDING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Accountlng policies Icontinuedl 1.10 Employee benefits The cost of any unused holiday entitlement Is re¢ognised in the period in which the employaa's services are reived. Termination benefits are recognised Immediately as an expense when the charity is demonstrably cornrnittad lo terminate the employment of an employée or to provide termination benefits. Investments 2023 2022 Income from UK equities, investment Irusls, unit Irusts & OEICS Income from foreign equities, investment trLJSts. unit trusts & OEICS Income from UK interest bearing investments Income fiom foreign interest bearing investrnenls Stockbroker inleresl- recÉived gross 118,873 38.830 10.335 7,948 3,148 143.855 34,976 19,490 6,109 179.134 204,430 12
THE HARDING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Raising funds 2023 2022 Invesltnent management 18,889 20,120 18,889 20.120 Charftable activities Grant Plano hlre funding Total 2023 Total 2022 Depreciation and impaiimenl Gilberts Piano Storage Insuran 2.334 480 42 2.334 480 42 2,334 2,856 2,856 2,334 Grant fundlng of activities (see note 51 158.000 158,000 115,028 Share of support C051s1see note 61 Share of govemancè costs (see note 61 5.198 15,211 5.198 15.211 4,839 14,400 178,409 2,856 181,265 136,6Q1 Analysis by fund Revenue funds Capital funds 169.834 8.575 2,856 172,690 8,575 178,409 2,856 181,265 For thè y&ar ended 5 April 2022 Revenue funds Capital funds 125,981 8,286 2,334 128.315 8.286 134.267 2,334 136,601 Grants payabl8 2023 2022 Gr8nls to institutions.. Musical donations (see appendixl Olher donations Iseg appèndixl 146,500 11,500 104,528 10,500 158,000 115,028 13-
THE HARDING TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2023 Support costs Support Governancè costs costs 2023 2022 Secretarial support fees Travel expenses and StS of meetings 4,314 4,314 884 4.099 740 AOUntanCY Examiner Legal and professnal 6,144 492 8.575 6,144 492 8,575 5.670 444 8,288 5.198 15,211 20.409 19.239 Analysed beNveen Charitable activities 5,198 15.211 20,409 19.239 Governance costs includes payments to the independent examiner of £492 {2022- £4441 for the Independent examinallon of the accounts. Trustees NonÉ of the truslees {oT any persons eonneded with Ihewl reeeived any remuneration during the year, but they were reimbursed a total of £883.50 Iravelling expenses and disbursements12022- they were ieimbursed £7401. Employees The avèr8ge monlhly number of employees during the year was.. 2023 Number 2022 Number Total There were no employees whose annual MUneratIon was more Ihan £60,0W. 14-
THE HARDING TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 Net 9ainslllossesl on investments 2023 2022 Revaluation of investments Gainlllossl on salè of investments 185,6241 (46,5001 148,727 60,894 1132.1241 207,621 10 Taxation The charily is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationol Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects. 11 Tangible fixed assots Plant and equlprnefft (Pianol Cost At 6 April 2022 46.680 At 5 April 2023 46,680 Deprèclatlon and impairmènt At 6 April 2022 Depreciation charged in the year 24,896 2.334 Al 5 April 2023 27,230 Carrying amount Al 5 April 2023 19,450 At 5 April 2022 21.784 15
THE HARDING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2023 12 Fixed asset investments Listed Investments Cost or valuation Al e April 2022 Additions Valuation changes Profitl{loss) on sales Disposals 5,492,295 390.854 {85.6241 146,5001 1389.2771 Al 5 April 2023 5,361,548 Carrying amount At 05 Aprll 2023 5,361,548 At 05 April 2022 5.492,295 13 Financial in$trumants 2023 2022 Carrying amount of financial assèts Equity inslrurnenls measured at cost less impairment 5.361,548 5,492,295 Carrying amount of flnancial liabilitie¥ MeasLJred at fair value through profil or loss Measured at amortised ¢081 24,571 23.304 14 Creditors.. amounts falling due within one year 2023 2022 Trade ¢Tedilors Other eredilors 6,013 18,558 5,533 17,771 24.571 23,304 16-
THE HARDING TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023 15 Analysis of net assets between funds Revenue Fund$ 2023 Capital Funds 2023 Total Total 2023 2022 Fund balances at 5 April 2023 are represenled Tangible assets Invastmenls Current asselsllliabililies) 19,450 5,361,548 103,329 19,450 5,361,548 434,255 21,784 5.492,295 454,318 330,926 330.926 5,484,327 5,815,253 5,968,397 16 Relat8d party transactions There were no dlsclosable related party transactions during tha yèar {2022 - none). 17-