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 disc￿li0n 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 cOn￿rtS, 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,
perforMan￿S and Ihealres they have been able lo fulfil their aims in providing sponsorship and otherwise
supporting various public Con￿rts. Tealals and performan￿8 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. prO￿dIng 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
pr￿edureS 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 conjU￿tiOn 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 profess￿n81 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 a￿ordanCe 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 re￿Ived.
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 re￿1vable 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 th￿e 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 re￿1vable 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 transact￿n, 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
re￿ived.
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
A￿OUntanCY
Examiner
Legal and profess￿nal
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-