REGISTERED CHARrrY NUMBER: 500537
Audlt•d Financlal Statements
fDr the Year Ended
31 March 2024
for
Thomas Harley's Estat• Charlty
The Rowleys Partner5hlp Ltd
Statutory Auditors
Chartered Accountant5
Charnwood House
Harcourt Way
hleridlan Buslness Park
Lelcester
Le1ceste￿hire
LE19 1WP

Thomas Harley's Estate Charlty
Contents of the Financial Statements
for the Year Ended 31 March 2024
Paqe
Reference and Adrnlnlstratlve Detalls
Trustees. Report
Report of the Independent Audltors
7 to 9
Statement of Flnanclal Actlvltles
10
Balance Shwt
11 to 12
Note5 to the Flnanclal Statements
13 to 25
Detalled Statement of Flnanclal Actlvltles
26

Thomas Harfeys Estate Charfty
Reference and Admlnfstrative Detalls
for the Year Ended 31 March 2024
NOhllNATED TRUSTEES
As appolnt•e of the Leicestershlre
County Councll
Mrs C Radford
As appointee of Osgathorpe Parlsh
Councll
M Buczkiewicz (reslgned 23.9.23)
A J Dodson (appointed 23.4.24)
A Bates (appointed 19.19.23 & reslgr*d14.11.23)
A Wessel (reslgned 9.5.23)
Rev A R Lelghton (appointed 9.5.23
As appolntee of Bishop of L•fcester
Co- opted Trustee
P HaCky￿0d
C Young Ire51sned 9.5.23)
P Sergeant
C J Sheldon
Mrs R A Glbson lappolnted 9.5.23)
Mrs S Newcombe {re5igned 9.5.23)
Receiver & Clerk
Ms S Steven50n
PRINCIPAL ADDRESS
Clo Charlty Llnk
20a Mlllstone Lane
Lelcester
LE15JN
REGISTERED CHARITY NUMBER
500537
AUDrroRS
The Rowleys Partnershlp Ltd
statutory Audltors
Chartered Accountants
Charnwood House
Harcourt Way
Merldian Buslness Park
Lelcester
Lelcestershlre
LE19 1W
INVESTMEKf MANAGERS
cc
Senator House
85 Queen Victoria Street
Lond
EC4V 4Er
BANKERS
Barclays Bank Plc
Market Place
Lelcester
LE87 ZBB
Page 1

Thoma5 Harley's Estate Charfty
Trustees. Report
for the Year Ended 31 March 2024
The tnJstee5 present thelr report with the flnancial statements of the charity for the year ended
31 March 2024. The trustees have adopted the provlslons of Accounting and Reportlng by Charities.
Statement of Recommended Practice applicabLe to charitles preparing thelr accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January
20191.
The fTnanclal statements have been prepared to give a true and falr view and have departed from the
Charitles (Accounts and Report51 Regulatlons 2008 only to the extent requlred to provide a true and falr
view. This departure has Tnvolved following the Statement of Recommended Practice for charlties applying
FRS 102 rather than the version of the Statement of Recommended PractTce which is referred to in the
regulations. but which has Since been withdrawn.
OBJEcfivES AND ACTIVITIES
Objectives and aims
The objects of the charity are to assist wherever possible those appllcant$ in need withln the classes of
beneficiaries as described in the Charity Scheme, namely WTdows, widowers and dependents of deceased
Clergy and Schools and Young Persons under the age of 25, principally from the relevant Areas of 8eneflt.
In formulating and applying these objectives, the trustees have regard to the guldance of the Charity
Commisslon on Public Beneflt.
The trustee5 seek to utlllse all of their net Income to asslst beneflclarles by awardlng rnonetary grants. In
the case of the educational irants these are to assist specific projects being undertaken by schoo15 from
the Area of Beneflt deflned as the parlshes of 05gathorpe, Belton and the former Urban Distrlct of Coalville.
The trustees look to the schoo15 to raise thelr own contrlbution to the project and If possible, match the
funds being offered by the trustees. For Young Persons the trustees are aware of the debts be5ng incurred
by students from lower.income households In attending higher educatlon. Provlding that the student's
appllcation Is strongly supported by thelr course tutor the trustees endeavour, provldSn8 funds allow, to
assist that student through thelr college / unlverslty I:ducation.
For clergy wldow5, wldowers and dependents, apart from emergency asslstance In the forrn of relief In need
8rants, the trustees award. subject to thelr financlal status, health, age and number of dependents,
temporary ald grants where the level of grant awarded 15 calculated from the Informatlon supplled by the
Diocese of Leicester Clersy Widow5 and Widowers Familie5 Commltlee.
The trustees have paid due regard to guldance Issued by the Charlty Commisslon In declding what actlVTties
the charfty should undertake.
ACHIEVEMENT AND PERFORMANCE
Charitable acthdtie5
The charity has continued Tts purposes of distributing the income in accordance with wishes of the settlor
Thjmas Harley. This allocates 75% of the income to the Relief In Need Charlty and 25% to the Educatlon
Charlty. In accordance with Scheme sealed on 2nd August 1990 by the Charlty Commlsslon thp flistrlhution
of the funds from both the Relief in Need Charity and the EducatTon Charlty are adminlstered by this charity
the Thomas Harley's Estate Charlty.
No fundralslng takes place, all income 7s recelved from investments managed by CCLA or from property.
The adrnini5tratlon of the charlty Is outsourced to Charity Link on behalf of the trustees.
Page 2

Thornas Harley's Estate Charlty
Trustees. Report
for the Year Ended 31 March 2024
FINANCIAL REVIP
Financial posftion
The trustees are advised by CCLA. As at 31st March 2024, £11.321,108 12023 £10,371,254) was invested
In the COIF Charities Investment Fund, of whlch 71.89% was in Equlties, 9.71% in Infrastructure and
operating Assets, 8.23% In Fixed interest, 1.62% in Cash and near Cash, 1.15% Sn ContractL5al and Other
Income, 3.96% in Property, 3.42% in Private Equity.
The net movement in funds, excludlng galnsl(lossesl on investments totalled £290,865 and In accordance
wlth the Scheme was allocated 75% to the Relief1n Need Charlty and 25% to the Educatlon Charlty.
The Rellef In Need Charity recelved Income of E218,148, awarded grants of £151,518 and held a balance
of Income not distributed of £531,618 at the end of the year.
Thls financlal year the net movement Dn funds for the Educatlon charity Wa5 an Increase of £27,681. The
balance of Income at the end of the flnancial year was £634,534.
The Educatlon Charity rece1ved Income of £72,715, awarded grants of £68,874 and held a balance of
Income not yet distrfbuted of £134, 534 at the end of the year. The grant5 were 5pIIt with £34,208 awarded
to schools and £34,666 awarded to young people.
Risk Management & Reserves Polky
The trustees have considered the major risks to which the charlty15 exposed and have reviewed ttr￿se risks
and establlshed systems and procedures to manage those risks. The trustees approved an Investment and
Reserves Pollcy at thelr meeting on 1st March 2017. The implementation of this policy is regularly reviewed
wlth reports received from CCL4 at trustee ffleetfngs.
The trustees conslder the safeguardlng of invested furKls and the returns on these funds to be the charltys
major f inancial risk and recent volatillty ID world stock markets has demonstrated this risk. For this reason,
the rtsk5 a550ciated wlth thFS are mitigated by outsourdng the Investment management to CCL4. where the
monles are Invested in low rlsk fund5 whlch alrn to provide stable returns for the charlty to enable It to
continue to meet its objective of maklng grants to the beneflt of the local community and those In need.
To allow for market volatility, the trustees have started the process of building up reserves whlch wlll be
equivalent to one year's Lwdgeted 8rant maKIng and held in the CCL4 COIF Cash Deposlt Fund. At 31 March
2024 the reserve5 held totalled E212,424.
FUTURE PLANS
The charity plans to continue to fulfll Its objectives as identlfled above Into the foreseeable future and to
continue to make the m05t of the beneflts It has obtalned via Its flnancial strength.
The Trustees are in the process of establishing a newly incorFy)rated Charltable Incorporated Organ15atlon
(cio) to take over the activity of the current Charities. The Charlty Commlssion have given approval, and
the transfer of assets Is underway, Thls transition wSll enable a more detalled revlew of the governance
stnjcture.
The Trustses have entered Into an Option Agreement to sell a small land holdlng, subject to planning
pem5sslon being granted. Proceeds from the sale will be utili5ed to increase the investment portfolio
and income available for distrlbution.
STRucfuRE. GOVERNANCE AND hlANAGEMEN
Governing document
The trustees obtained a Unitin£ Direction from the Charity Commi551on on 14th April 2006 $0 as to enable
the Thomas Harley's Estate Charity 1500537), Thornas Harley's Relief in Need Charlty {209951), and Thoma5
Harleys Educational Foundation (5278831 lo be treated as a sinsle charity for the purposes of Part 11
Iregi5tration) and Part vi iaccountingi of the Charities Act 2011.
Page 3

Thomas Harley's Estate Charlty
Trustees. Report
for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appofntment of new trustees
The trustee5 who served during the year and up to the date of signature of the f7nancial statements were:
Nominated Trustees
A5 appolntee of the Lefcestershlre County
Council
As appolntee of Osgathorpe Parlsh Councll
Mr5 C Radford
M Buczkiewlcz (resigned 23.9.231
A J Dodson lappolnted 23.4.24>
A Bates lappointed 19.9.23 & resigned
14.11.23)
As appolntee of Blshop of Leicester
A Wessel (reslgned 9.5.231
Rev A Leighton {appolnted 9.5.23)
Co-opted Trustees
P Hackwood
C Young Iresigned 9.5.231
Mrs G Newcombe Iresl8ned 9. 5,23
P SerBeant
C J Sheldon
R A Glbson (appointed 9.5.231
The Trust Deed state5 the body of trustees when cornplete shall conslst of 9 competent persons being:
. Three nominated trustees and
SIX co-opted trustees
Nomlnated trustees are appolnted as follows:
One by the Lelcestershlre County Councll (as local educatlon authorltyl.,
, One by the Osgathorpe Parish CoLYKiI; and
. One by the Blshop of Lelcester
The nomlnated trustees are:
Leicestershire County COU￿11 Counclllor Christine Radford
. Osgathorpe Par15h Councll - C1￿ClI10r A Dodson
Blshop of Leicester - Rev A Leighton
Co-opted trustees are persons through resldence, occupation or employment. or otherwise have speclal
knowled8e of the area of benefit. These trustee5 ar(b appolnted for a term of flve years by a resolution of
the trustees passed at a special meetin8. Any competent trustee may be re-appolnted under the terms of
the Trust Deed.
All trustees give of thelr tlme freely and no trustee remutteratlon was paid in the year. Trustees are requlred
to dlsclose all relevant interests and to wlthdraw from declsions where a potentlal confllct of Interest arf5es.
Ail grant claims and payments are reported to the trustees. In case5 where the afftounts claimed are below
E4.(J)O and assistance urgently required, the cled( investigates the claim and a grant is awarded with the
approval of the chairman and one other trustee, usually Rev A Leighton. The payments usually are to assist
claimants with funeral expenses or emergency repairs I replacement of essential electrical equipment such
as a washlng machine for a clergy widow. All other grant clalms are consTdered by the trustees at thelr bi-
annual meetlngs.
Page 4

Thomas Harley's Estate Charlty
Trustees. R•port
for the Year Ended 31 March 2024
STRUCTURE. GOVERNANCE AND MANAGEMENr
AIL trustee5 are on appointment briefed as to the objects of the charity, the background history to the
charlties and are glven copies of the Charltabie Scheme dated 2nd August 1990 and the most up-to-date
financlal accounts and perfonnance ￿pOrts from the charlty Investment advlsors, CCLA.
The chadty does rvjt employ any staff but pays an annual fee to Charity Llnk for thelr services to act as
clerk to the charlty and to manage the property assets of the charfty on behalf of the trustees.
The day-to-day management of the charltyls deLegated to Charlty Link who regularly Ila15e with P Hackwood
the chair of trustees, and Rev A Leighton who 15 the trustee appointed by the Blshop of Leicester and vtho
asslsts In identifyfng and brlngln8 forward claims from clerBy wid0v￿ and dependents resident In the Diocese
of Leicester.
STATEMENT OF TRusfEES' RESPONSIBILITIES
The trustees are responsible for preparlng the Trustee5' Report and the flnancial statements in accordance
with appllcable law and United Klngdom Accounting Standards {Unlted Kingdom Generally Accepted
Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard
appl1cable In the UK and Republlc of Ireland"
The law appllcable to charities in England and Wales, the Char(tles Act 2011, Charlty (Accounts and Reports)
Regulatlons 21Th and the provtslons of the trust deed requires the trustees to prepare flnancial statements
for each financlal year which glve a true and fair view of the state of affairs of the tharity and of the
Incomln8 resources and appllcatlon of resources, Includlng the Income and expendlture, of the charity for
that perlod. In preparlnq those flnanclal statements, the trustees are requlred to
select sultable accountlnq wllcles and then apply them con51stently;
observe the methods and princlples In the CharSty SORP (FRS 1021;
make Judgements and estlmates that are reasonable and prudent;
State whether appllcable UK Accounting Standards have been followed, subject to any materlal
departures disclosed and explained in the financlal statements; and
prepare the flnanclal statefflents on the golng concern basis unless It Is Inapproprfate to presume that
the charity will contlDue in business.
The trustee5 are responslble for keepin8 proper accountTn¥ records whlch disc105e wlth reasonable accuracy
at any time the financlal pjsltlon of the charlty and to enable them to ensure that the flnancial statements
omply with the Charities Act 2011, the Charity (Accounts and Reports) Re8ulatlons 2LYIB and the provlslons
of the trust deed. They are also responsible for safeguarding the assets of the charfty afKI hence for taking
reasonable steps for the preventlon and detection of fraud and other Irregularities.
Page 5

Thomas Harl•Ws Estate Charity
Trustees, Report
for the Year Ended 31 March 2024
Approved by order of the board of trustees on ..1 U- ..JLI(IM¢Lf.y..Zo.1.S...... and slgned on Its behalf
by:
Hac
wood - Trustee
Page 6

Report of the Independent Auditors to the Trustee5 of
Thomas Harley's Estste Charity
Oplnlon
We have audlted the flnanclal statements of Thomas Harlels Estate Charity (the'chari¢￿) for the year ended
31 March 2024 whlch comprise the Statement of Financial Activltles, the Balance Sheet and notes to the
financlal statements. Including a summary of signlficant accounting policies. The financlal reportlng
framework that has been applied in their preparatlon Is applicable law and United Kingdom Accountlng
Standards (United Kingdom Generally Accepted Accounting Practice), includlng Financlal Reportlng Standard
102'The Flnandal Reporting Standard applicable In the UK and Rewblic of Ireland..
In our oplnion the financlal statements:
qlve a true and falr vlew of the state of the charity'5 affalrs as at 31 March Z024 and of Its Inclxning
resources and applicatlon of resources. for the year then ended.
have been properly prepared In accordance wlth United Klngdom Generally Accepted Accountlng
Practice, includlng Flnanclal Reporting Standard 102 The Flnanclal Reporting Standard applicable in
UK and Republic of Ireland,; and
have been prepared in accordance wlth the requirements of the Charlties Act 2011.
Bas15 for oplnion
We conducted our audlt in accordance wlth International Standards on Auditing (UKI {ISAs (UKII and
applicable law. Our responslbllltles under those standards are further descrfbed in the Auditors.
responsibilities for the audit of the financial statements sectlon of ovr report. We are Independent of the
charlty in accordance wlth the ethical requirements that are relevant to our audlt of the financlal
statements in the UK, Includin8 the FRC'S Ethlcal Standard, and we have fulfllled our other ethical
re5ponslbilitles In accordance with these requlrements. We belleve that the audlt evlderKe we have
obtaSned Is sufflclent and appropriate to provide a bas7$ for our opinlon.
Concluslons relatln8 to golng concern
In audlting the flnancial statements, we have concluded that the trustees. use of the golng concern basis of
accounting In the preparation of the flnanclal statements is approprlate.
Based on the work y￿ have performed, we have not identifled any materlal uncertalntles relatlng to events
or condltlons that, indivldually or collectlvely, may cast signlflcant doubt on the chadty's ablllty to continue
as a golng concern for a period of at least twelve months from when the flnanclal statements are authorlsed
for Issue.
Our responslbllltles and the responslbllltles of the trustees wlth respect to 8olng concern are descrlbed In
the relevant sections of this report.
Other Informatlon
The trustees are responslble for the other Infonmation. The other Informatlon comprlses the Informatlon
Included in the Annual Report, other than the financlal statements and our Report of the Independent
Audltors thereon.
Our opinion on the flnancial 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 responsibility15 to read the other Informatlon
and, In dolng so, conslder whether the other informatlon is materlally inconsistent with the financial
statements, or our knowledge obtalned in the audlt or otherwlse appears to be materially m755tated. If we
identify such material inconsistencies or apparent materlal misstatements, we are requlred to detemiine
whether thls 8lves rise to a materlal misstatement In the financial statements themselves. If, based on the
work we have performed, we conclude that there is a material mlsstatement of thls other Infomktion, we
are required to report that fact. We have nothing to report in thls regard.
Matters on whlch we are required to report by exceptlon
We have nothing to report In respect of the following rnatters where the Charlties (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our oplnlon:
the Information given In the trustees Report Is Incons15tent Tn any materlal respect wfth the flnanclal
statements., or
sufflcient accounting records have r￿l been kept. or
the financial statements are not in agreernent with the accountlng records and returrts: or
we have not recelved all the Infonnation and explanatlons we require for our audit.
Page 7

Report of the Independent Audltors to the Trustees of
Thomas Harley's Estate Charlty
Responsibilftl•s of trustees
As explained morè fully in the Statement of Trustees. Responsibilltles, the trustees are resporsible for the
preparation of the financial statements which give a true and fair view, and for such Internal control as the
trustees determine is necessary to enable the preparation of financial staternent5 that are free from
material mlsstatement, whether due to fraud or error.
In preparlng the flnancial statements. the trustees are responsible for assessing the charltrfs ability to
continue as a going concern. disclosing, as applicable, matters related to going concern and using the golng
concern basis of accounting unless the trustee5 elther intend to Ilquldate the charity or to cease operations,
or have no reaLi5tlc alternative but to do 50.
Our respon51bllltles for the audlt of the flnanclal statsments
We have been appointed as auditors under Section 144 of the Charfties Act 2011 and report in accordance
wlth the Act and relevant regulatlons made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financlal statements as a whole are
free from materlal rnlsstatement, whether due to fraud or error, and to Issue a Report of the Independent
Auditors that Includes our oplnlon. Reasonable assurance Is a hlgh level of assurance, but Is not a guarantee
that an audlt conducted In accordance with ISAS (UKI will always detect a material mlsstatement when it
exists. Mlsstatements can arlse from fraud or err¢y and are considered material If, Individually or in the
aggregate, they could reasonably be expected to Influen￿ the economlc declsions of users taken on the
basls of these financlal statements.
IrreguLarltles, includin8 fraud, are Instances of rK)n.compllance wlth laws and regulatlons. We deslgn
procedures in Ilne with our responsibillties, outllned above, to detect material misstatements In respect of
Irre8uiarlties, Includlng fraud. The extent to whlch our procedures are consldered capable of detectlng
irregularities, Including fraud, Is detalled l)elow:
We obtalned an understandln8 of the legal and regulatory frarneworks that are applicable to the
charity and detennined that the most $18nificant whlch are dlrectly relevant to speclftc a55ertlons
In the flnanclal statements are those related to the financlal reportln8 frameworks (UK Generally
Accepted Accountln8 Practlce, the Charlt1es Act 2011) and the relevant tax compliance regulations
In the jurlsdictlon In which the charity operates.
We enquired of mana8ement, whether they were aware of any instances of non.complian￿ vAth
laws and reguiatlons or whether they had any knowledge of actual, suspected or alleged fraud:
We assessed the susceptlbility of the entity's flnanclal statements to materfal mlsstatement,
Includlng how fraud mlght occur.
Our testlng consldered unusual or unexpected Journal entrie5 on a sample basls;
We evaluated the assumptions and jud8ernentS Used by management ￿thIn slgnlffcant accountlng
estlmates and assessing if these indicate evidence of management bias.
We tested s18nificant transactlons, In partlcular the evaluatlon of the buslness rationale for any
which appear unusual or outside the charity's normal course of buslness;
We a55e55ed the appropriateness of the collective competence and capabllltie5 Of the engagement
team by understanding the practical experlence wlth audit engagements of a Similar nature and
complexity, plus ensuring the team had appropriate and relevant tralning of the financfal reporting
framework and the relevant tax compliance regulatlons speclflc to the entity:
We rcviow¢d thc financial *Jtatemcnts and tcsted the disclosures against supporting documentation;
and
We communlcated relevant matters to all members of the audit team to ensure they mderstood
the risks speclflc to the entity and the audit procedures planned to mitigate these.
Page 8

Report of the Independent Auditors to the Trustees of
Thomas Harley's Estate Charity
Because of the Inherent lim1tations of an audit, there is a rlsk that we wlll not detect all irregularities,
Including those leading to a material misstatement in the financial statements or non.compl3ance with
regulatlon. Thfs risk increases the more that compliance with a law or regulation is removed from the events
and transactions reflected in the flnanclal 5taternents, as we wlll be less Ilkely to become aware of instances
of non-compliance. The risk is also greater regarding irregularitfes occurring due to f raud rather than error,
as fraud involves intentional concealment, forgery, collusion, omlssion or rnisrepresentation.
A further descrlption of our responsibllltle5 for the audlt of the financlal statement5 is located on the
Financlal Reporting Councll's webs?te at vrnw.frc.org.uk/auditorsresponsibilities. This descrlptlon forms
part of our Report of the Independent Auditors.
Use of our report
This report Is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charfties
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we miRht State to the
charlty's trustees those matters we are required to state to them In an auditor5, report and for no other
purpose. To the fullest extent permTtted by law, we do not accept or assume responslblllty to anyone other
than the charity and the charity's trustees as a body. for our audit work, for this report, or for the opinSons
we have formed,
The Rowleys Partnership Ltd
Statutory Auditors
Chartered Accountants
Eliglble to act as an audltor In tenns of Section 121Z of the Companles Act 2006
CharnwG¥Jd House
Harcourt Way
Mertdian Buslness Park
Leicester
Lelcestershire
LE19 1WP
Ek
Date:
Page 9

Thomas Harley's Estate Charlty
Statement of Financlal Actlvities
for the Year Ended 31 March 2024
2024
2023
Restricted
funds
Unrestricted CharTtable
furKIs
Branch
Restricted
funds
Educatlonal
Branch
Total
funds
Total
funds
Notes
INCOME AND ENDOWKNTS
FROM
Charltable actlvltles
Charitable activlties
7,340
9,500
Investment income
Other income
312,814
26
312,814
26
304,492
26
Total
7,340
320,180
314 018
EXPENDrruRE ON
Charitable activlties
Charltable actlvltles
151,518
242 368
257 473
Net galnsl II05sesl on
Investments
1 068 854
1 085,354
396.957)
NET IMC¢)mEI{ExPEND￿uRE)
Transf•rs between funds
1,359,718
290,863)
1151,5181
218,148
(45,034}
15
1,163,166
{340,4121
Net movement In furbds
1,068,855
66,630
27,681
1,163.166
1340,412)
RECONCILIATION OF FUNDS
Total funds brought foTriard
10,565.106
464,988
606,853 11,636,947 11,977,359
TOTAL FUNDS CARRIED
FORWARD
11 633 961
531618
634,534 12,81)0,113
11,636 947
coKriNUING OPERATIONS
All income and expendlture have arlsen frc¥n contlnulng actlvltles.
The note5 form part of these financlal statements
Pa8e 10

Thomas Harley's Estats Charlty
Balanc• Sheet
31 March 2014
2024
2023
Restricted
funds
Unrestrfcted Charitable
funds
Branch
Restricted
fund5
Educatlonal
Branch
Total
funds
Total
funds
Notes
FIXED ASSErs
Investments
Investments
Investment property
?0 11,533,532
11,533,532 10,475.401
955,000
819.500
500,000
11,988,532
500,000 12,488,532 11,294,901
CURRENT ASSErs
Debtors
Cash at bank
12
82,025
422 982)
82,025
243 170
76,226
274,421
531,618
134 534
(340,957
531,618
134,534
325.195
350,647
CREDrroRS
Amounts falllng due wlthin
one year
13
(13,6141
(13,6141
(8,601)
NEf CURREKf ASSErs
354,571)
531 618
134 534
311 581
TOTAL ASSEfs LESS
CURRENT LIABIUTIES
11,633,961
531,618
634,534 12,800,113 11,636,947
NEf ASSErs
11 633 961
531618
634 534 12,800 113 11 636,947
The notes form part of these f1nanclal statements
Page 11
continued...

Thomas HarleWs Estate Charlty
Balance Sheet - contlnued
31 March 2024
FUNDS
UnrestrTCted funds..
Unrestrlcted funds
Falr values reserve
14
7,455,235
4,178.726
11,633.961
7,455,235
3,109.871
10 565 106
Restrlcted funds:
Restrlcted fund5 Charltable Branch
Restricted funds Educatlonal Branch
Falr value reserves - Educational Branch
531,618
134,534
500,000
464,988
123,353
483,51))
1,166,152
1071 841
TOTAL FUNDS
12 800,113
11 636 947
The fl
anclal statements were approved by the eoard of Trustees and autlh)rlsed for issue on
.25.... and were sl8ned on Its behalf by:
P Hackwood . Trustee
The notes forrn part of these financial statements
Page 12

Thomas Harley's Estate Charity
Notes to the Flnancial Statements
for the Year Ended 31 March 2024
CHARI￿ INFORMATION
Thomas Harley's Estate Charlty Is an unlncorporated charlty registered in England and Wale5, and15
governed by its trust deed. The address of the place of buslness Is given in the legal and administrative
Informatlon paqe of these flnancial statements
ACCOUNTING POLICIES
Basls of preparlng the flnanclal statements
The flnancial statanent5 of the charity, whlch Is a public benefit entlty under FRS 102, have been
prepared In accordance wlth the Charitie5 SORP IFRS 1021 'Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts In accordance
with the Flnanclal Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 102)
(effective 1 January 2019}', Flnancial Reporting Standard 102 The Financlal Reportlng Standard
applicable in the UK and Republlc of Ireland. and the Charlties Act 2011 , The financial statements
have been prepared under the hlstorical cost convention, wlth the exception of investments which
are Included at market value, as modified by the revaluation of certain assets.
Income
All income Is recognised In the statement of Flnancial Actlvlties once the charity has entftlement to
the fund5, it ?s probable that the income will be received, and the amount can be rnea5ured reliably.
Le8acle5 are recognlsed at the earller of the charity belng notlfled of an Impendlng distributlon or
the leqacy bein8 recelved.
Income from charitable actlvities prlmarlly includes Income recelved from charftable rental income,
where property Is let whlch satisfles the objectlves of the charity. Such income15 reco8nlsed on an
accruals basls.
Investment income Is earned through hold7n8 assets for Investment purposes. It comprises divldends,
whlch are recognlsed an an accruals basis.
Expendlture
All expenditure Is accounted for on an accruals basis and has been classlfled under heading5 that
aggregate all costs relatlng to the category. Expenditure is recognised when there is a legal or
constructlve obllgatTon to make a payment to a thlrd partyi It Is probable that settlement will be
required, and the amount of the obllgation can be measured ￿liablY. It is recognised under the
followlng headlngs:
Costs of ralsing funds Include investment management costs, for managin8 the portfollo of listed
Investments.
Expendlture on charltable actlvities notably Includes grant payrnents to further the delivery of the
objectives of the charity.
Irrecoverable VAT is charged against the category of resources expensed for whlch It was incurred.
All resources expended are allocated agalnst unrestrlcted funds unless they speclfically relate to
restricted fund. The surplu5 on the unrestrlcted fund Is then transferred on an annual basis against
the restricted funds on a 218 to Educati¢)n and 618 to Relief in Need restrTCted fund
Grants offered subject to condltlons which have Tr)t been met at the year-end date are noted as a
commitment but not accrued as expenditure.
Page 13
ontinued..

Thomas Harley's Estate Charlty
Notes to the Financial Statements - contlnued
for the Year Ended 31 March 2024
ACCOUNTING POLICIES - contlnued
Investment property
Investment property, whlch Is property held to earn rentals andlor for capital appreciation, is Inltially
measured at cost and subsequently measured using the falr value model and stated at Its fair Yalue
as the reportlng end date, The surplus or deflcit on revaluatlon 15 recognised in the Statement of
Flnanclal Activltie5 (SOFA),
Taxatlon
The charlty Is exempt from tax on Its charltable activitles.
Fund accountlng
Unrestrlcted funds can be used In accordance wlth the charltable objectives at the dlscretlon of the
trustees.
Restricted funds can only be used for partlcular restricted purposes withln the objects of the charlty.
Restrtctions arise when specified by the donor or when furKis are ralsed for particular restrlcted
purposes.
Further explanatlon of the nature and purpose of each fund is included In the notes to the financial
statements.
Golnq Concern
At the time of approving the finar￿Tal statements, the trustee5 have a reasonable expectatlon that
the charfty has adequate resources to contlnue in operational exlstence for the foreseeable future.
Thu5, the trustee5 cont1nue to adopt the soln8 concern basis of accountlng In preparlng the accounts.
Fixed asset Investments
Investments in equity instruments whlch are not sub5idiarles are inltlalLy recognlsed at transaction
prlce excludlng transaction costs and are subsequently measured at fair value wlth changes
recognlsed In the SOFA.
At each reportlng end date, the charlty revievts the carryinq amounts of its tanglble and Intangible
a55ets to determ7ne whether there is any Indication that those assets have suffered an lrnpalmient
loss. If any such Indlcatlon exlsts, the recoverable amount of the asset. or the asset's cash generating
unlt. is estimated and compared to the carrying am(xJnt In order to determlne the extent of the
Impairment Ioss lif any). Where the carrylnq amount exceeds its recoverable amount, an impaimient
loss is recognlsed In the SOFA unless the is carried at a revalued amount where the impalrment loss
FS a reyaluation decrease.
Cash and cash equlvalent5
Cash and cash equivalents Include cash in hand, deFK)Sits held at call wlth banks, other short.term
Ilquld investments wlth original maturltles of three months or less, and bank overdrafts.
Pase 14
contlnued...

Thomas Harley's Estate Charlty
Notes to the Flnancial Statements - corrtinued
for the Year Ended 31 hlarch Z024
ACCOUNTING POLICIES - contonued
Financial Instruments
Flnanclal instruments are recognised In the charltys balance sheet when the charity become5 party
to the Debtors and credltors wlth no stated interest rate and recelvable or payable wlthin one year
are measured at Other flnanclal assets Investments In equlty Instruments whlch are not subsidiarfes,
associates or joint ventures. are Inltlally measured at f air value, whlch Is normally the transaction
price excludlng transactlon costs. Such assets are subsequently measured at fair vaLue and the
changes In fair value are recognlsed in the SOFA, except that investments In equity Instruments that
are not publlcly traded and whose fair values cannot be measured reliably are measured at cost less
Impairment.
Impalrment of financial assets
Derivatlve financial instruments are Initlally measured at fa1r value at the date on which a derivatlve
contract is entered into and are subsequently measured at falr value through the profit Ioss
account.
Provlslons
Provlslons are recognised when the charlty has a legal or constructive present obligat1on as a result
of a past event, It Is probable that the charity will be requ1red to settle that obligation, and a reilable
estimate can be made of the amount of the obli8ation.
Crltlcal accountlni estlmates and Judgements
In the appllcatlon of the charity's accountlng pollcles, the trustees are requlred to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readlly
apparent from other 50urces. The estlmates and associated a55umptlons are based on hlstorical
experien￿ and other factor5 that are considered to be relevant. Actual results may dlffer from these
estimate5.
The estlmales and underlyfng assumpttons are revlewed on an ongolng bas15. Revislons to accountlng
estimate5 are recoqnlsed In the peraod In which the estlmate is revised where the revis70n affects
only that perlod, or In the perlod of the revislon and future perlods where the revi55on affects both
current and future periods.
Key sources of estlmation uncertalnty
The estlmates and assumptions which have a slgnlficant rlsk of causing a materlal adjustment to the
carrying amount of assets and IlabilitTes are as follows.
Valuatson of Investrnents
Irwestments are recognised Initially at falr value which Is nomally the transactlon prlce excluding
transaction cost5. Subsequently. they are Measured at fair value through proflt or loss If the shares
are publicly traded or thelr fair value can otherwise be measured reliably. Other Investments are
ffleasvred at cost less impairment.
Valuatlon of investment property
The valuation of the investment propertles is reassessed annualLy by the trustee5 and, when
nece55ary, amended lo reflect current values.
Page 15
continued..

Thomas Harley's Estate Charlty
Notes to the Flnancial Statements - contlnued
for the Year Ended 31 March 2024
INVESTMENT INCOME
2024
Total
funds
2023
Total
funds
Unrestricted Restrlcted
funds
funds
Rents received
Interest recelvable
Income from listed Investments
982
2,062
301,448
9,115
302 951
9,115
302 951
312 814
312 814
INCOME FROM CHARITABLE AcnvrriES
2024
2023
CharltabLe rental Incorne
Othèr Income
7,290
50
9,470
30
CHARITABLE ACTIVITIE5 COST5
Grant
fundin8 of
actlyltles
Isee note
71
Dlrect
Costs (see
note 6)
Totals
Expenditure on charitable actlvltles
220,392
242 368
DIRECT COSTS OF CHARrrABLE ACTivrriES
2024
2023
Repalrs to Investment propertles
Insurance
Clerk Fees
Auditors, fees
Other professlonal fees & expenses
4,509
881
7,362
7,080
2.144
15,208
2,700
6,031
5,1C(I
29.039
Page 16
continued.

Thomas Harley's Estste Charlty
Notes to the Flrkincial Statements - contlnued
for the Year Ended 31 March 2024
DIREcf COSTS OF CHARITABLE ACTIVITIES - continued
General
charftable Charltable Ed￿ationaL
expendlture
branch
branch
Total 2024
Total 2023
Clerk fee5
Repairs to inve5trnent
properties
Insurance
Audit Fees
Postage and Carriage
Sundry Expenses
Letting agent fees
Professlonal fees
Travel
Computer and Software
7,362
7,362
6,031
4,509
881
5,1(
181
41
954
483
328
158
15,208
2,7IXI
5,1(X)
881
181
954
483
328
158
21,976
GRANfs PAYABLE
Z024
2023
Grants pald
220 392
Z28 434
Pale 17
contlnued...

Thomas Harlerfs Estate Charlty
Notes to the Flnancial Statements - contlnued
for the Year Ended 31 March 2024
GRAPITS PAYABLE - contlnued
Charltable Educational
Branch
Branch
Total 2024
Total 2023
Forest Way Sch¢x)I
Whltwlck St. John the Bapt15t C of E
Primary school
Rlse Multi Academy
Bloom Ley Primary School
Hugglestone Community Prlrnary
School
Gflffydam Primary School
Iveshead School
Swannlngton C of E Primary School
Eelton Playgroup
Oakham School
Belton C of E Primary School
Newbrldge High 5chooL
Life MultT Academy
Ashby School
14,985
14,985
553
3.610
4,798
553
3,610
4,798
359
3,0(hJ
3,000
750
11,554
5,730
1.812
4,162
4,162
3,061
2,OCK)
1,1C
2,000
1,1th)
360
34,208
34,208
28,626
Charltable Educational
Branch
Branch
Total 2024
Total 2023
Grants to Indlvlduals
151,518
34,666
186,184
199,808
Page18
continued...

Thomas Harley's Estate Charity
Notes to the Flnancial Statements - contlnued
for the Year Ended 31 March 2024
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneratlon or other beneflts for the year ended 31 March 2024 nor for the
year ended 31 March 2023.
Trustees. expenses
There were no tru5tees' expenses pald for the year ended 31 March 2024 nor for the year ended
31 March 2023.
COMPARATNES FOR THE STATEMENT OF FINANCIAL ACTMTIES
Restrlcted
funds
Unrestricted Charitable
funds
Branch
Restricted
funds
Educatlonal
8ranch
Total
funds
INCOME AND ENOOWMENTS FROM
Charltable actlvltles
Charitable actlvlties
9,5CQ
9,5LKI
Investrnent Income
Other income
304,492
26
304,492
26
Total
9,500
314,018
EXPENDITURE ON
Charltable actlvitles
Charitsble actlvlties
170 058
257 473
Net galnsl(Iosses) on investments
396,9571
396,9571
NEf INCOMEI(EXPENDITURE)
Transfers between funds
1118,7781
278,1751
1170,058)
208 631
IS7,576)
69,544
(340,4121
Net movement fn funds
{396.953)
38,573
17,968
(340,412)
RECONCILIATION OF FUNDS
Total funds brought forward
10,962,059
426,415
588,885 11,977.359
TOTAL FUNDS CARRIED FORWARD
10 565,106
464 988
606,853
11 636 947
Page 19
continued.

Thomas Harley's Estate Charity
Notes to the FlnanclaL Statements - contlnued
for the Year Ended 31 March 2024
I O. FIXED ASSEf INVESTMENTS
2024
2023
Shares
Investment deposlts
11,321,108 10.371,254
212,424
104.147
11.533.532 10 475 401
Addltlonal Informatlon as fDIIow5:
Listed
Investments
MARKEf VALUE
At 1 April 2023
Revaluatlons
10,371,254
949,854
At 31 March 2024
11,321,108
NEf BOOK VALUE
At 31 March 2024
11,321 108
At 31 March 2023
10 371.254
See page three for detalled explanation of the Ilsted investrnents and where they are held.
Cost or valuatlon at 31 March 2024 Is represented by:
Llsted
Investments
Valuatlon In 2023
Capltal growth
10,371,254
949 854
Valuation In 2024
11,3Z1,108
Investments Ineither listed nor unllsted) were as follows..
2024
2023
Investment deposits
212 424
104,147
Page 20
continued...

Thomas Harle￿5 Estate Charlty
Notes to the Financlal Statement5 - contlnued
for the Year Ended 31 March 2024
INVESTMENT PROPERTY
FAIR VALUE
At l Aprll 2023
Revaluation
819,51Jl
135,500
At 31 March 2024
NEf BOOK VALUE
At 31 March 2024
At 31 Alorch 2023
Investment property comprlses land and bulldlngs In Lelcestershlre. The falr value of the investment
propertles has been arrlved at on the basis of a valuation carried out ai 12 November 2024 by Mather
Jamie Chartered Surveyors. The valuatlon was made on an open market value basis by reference to
market evldence of transactlon price5 for simllar pmperties. The trustees have reviewed the
valuation at the year end and conslder that the market has not changed slnce thls valuatlon.
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Prepayments and accrueé Income
13. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2024
2023
Other credltors
13,614
8.601
Page 21
continued..

Thomas Harley's E$tatè Charlty
Notes to the Flnanclal Statements - contlnued
for the Year Ended 31 March 2024
14. MOVEMENT IN FUNDS
Net
movement
In fun¢Js
Transfers
between
funds
At
31.3.Z4
At 1.4.23
Unrestricted fur￿5
Unrestrlcted fund5
10,565,106
1,359,718
(290,863) 11.633,961
R•strlcted funds
Restrlcted fund5 Charitable Branch
Restrlcted funds Educational Branch
Falr value reserve - Educational Branch
464,988
123,353
483,500
1151,518
{61,5341
218,148
72,715
531,618
134,534
1,071.841
(196,552
290 863
1.166 152
TOTAL FUNDS
11,636,947
1 163 166
12,800,113
Net movement In funds, Included In the above are as follows:
Incomlng
resource5
Resources
expended
Galns and Movement
losse5
in funds
Unrestdcted fund$
Unrestricted fund5
312,840
121,9761
1,068,854
1,359,718
Restrlcted funds
Restricted fMds Charltable Branch
Restrlcted funds Educatlonal Branch
1151,5181
68 8741
{151,518)
(45,034)
16,500
220 392)
(196,552)
TOTAL FUNDS
320 180
242, 368
1,085,354
1.163,166
Page 22
continued...

Thomas Harley's Estate Charlty
Notes to the Flnandal Ststernents - continued
for the Year Ended 31 March 2024
14. MOVEMENTS OF FUNDS - contlnued
Comparatlves for movement in funds
Net
movement
In funds
Transfers
between
furKIs
At
31. 3.23
At 1.4.22
Unr•strlcted funds
Unrestrfcted funds
10,962,059
(118,778)
(278,175) 10,565,106
Restrlct•d funds
Re5trlcted f￿)d5 CharltabLe Branch
Restrlcted fund5 Educatlonal Branch
Fair value reserve - Educatlonal Branch
4Z6,415
105,385
483 500
1170,058)
151,576
208,631
69,544
464,988
123,353
483 500
1 015 300
221634)
278 175
1071 841
TOTAL FUNDS
11,636 947
Net movement In fund5. Included In the above are as follows
Incomlng
Resource5
resources
expended
Galns and
1055es
Movement
In funds
Unrestrkted funds
Unrestricted funds
304,518
(26,339)
1396,957)
{118,778)
Restrlctèd funds
Restricted f￿dS Charftable Branch
Restrlcted funds Educatlonal Branch
(170,058)
610761
1170,0581
51,576)
231,134
2Z16341
TOTAL FUNDS
314.018
257 473)
396 957)
340 412)
Page 23
continued..

Thomas Harley's Estate Charity
Notes to the Flnanc7al Statements - contlnued
for tho Year Ended 31 March 2024
15. Analysis of net assets between funds Year ended 31 Ilarch 2024
Unrestrfcted Restrlcted Restrlcted
funds
Charltable
Educatk)nal
Branch
Branch
Funds balances at 31 March 2024
are represented by:
At
31.3.24
Investrnent propertles
455,fA)O
500.000
955,000
Investment
Investment dep)slt fund
Current assetsllliabTlitlesl
11,321,108
212,424
354,5711
11,321,108
212,424
531 618
134 534
11 633 961
531 618
634,534
12,800 113
Analysls of net assets between funds Year ended 31 March 2023
Unrestricted Restricted
funds
Charltable
Branch
Re5trlcted
Educatlonal
Branch
Funds balances at 31 March Z023
are represented by:
At
31.3.23
Investment properties
336,0
483,500
819,500
Investment
Investment deposlt fund
Current assets/ Iliabilltles)
10,371,254
104,147
246,295
10,371,254
104,147
123,353
10,565 106
464,988
606.853 11,636,947
The Educatlonal Branch provldes grants to schools for speclf1c projects, and to students to subsldise
thelr college l universlty education.
The Charitable BrwKh provldes temporary ald 8rants for Clergy ￿doW$, wldowers and dependents.
Fair Value Reserve - EdLKattonal Branch relates to the valuatl¢)n of investment properties held withln
the Educational Branch.
Transfers are made into the Educatfonal Branch and the Charitable Branch froffl general reserves to
fund the grant payments.
Page 24
continued.

Thomas Harley's Estate Charlty
Notes to th• Flnanclal Statements . contlnued
for the Year Ended 31 March 2024
16. RELATED PAKfY DISCLOSURES
During the year fees of £7,362 (2023 £6,031 were pald to Charlty Link for services as clerk and
recefjver to the charlty. £6,204 (2023 - £3,054) are included in accruals at the year end.
Page 25

Thomas Harley's Estate Charity
Detafled Statement of Flnanclal Actlvlties
for the Year Ended 31 March 2024
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Restricted
f￿dS
INCOME AND ENDOWMENTS
Inve5tmeTrt income
Rents received
Interest receivable
Income from listed Investments
748
9,115
302 951
982
2,062
9,115
312,814
312,814
304,492
Charltable actlvftles
Charltable rental income
Other Income
7,290
7,290
50
9,470
30
7.340
7,340
9,500
Other In¢omo
Other Income
26
26
26
Total1ncomln8 resources
312,840
7,340
320,180
314,018
EXpEND￿uRE
Charltable actlvitles
Repairs to Investment properties
Insurance
Clerk Fees
Auditors, fees
Other professlonal fees & expenses
Grants to Instltutlons
Grants to Indlvlduals
4,509
4,509
15,208
2,700
6,031
5,100
7,362
7,080
3,025
7,362
3,025
34,208
186,184
34,208
186 184
28,626
199 808
220 392
242 368
257,473
Total resources expended
21,976
220 392
242.368
257,473
Net Incomell•xpendlture)
290,864
213,0511
This page does not form part of the statutory financial statements
Page 26

This page doe5 not form part of the Statutory financ1al statements
Page 26

REGISTERED CHARrrY NUMBER: 500537
Audlt•d Financlal Statements
fDr the Year Ended
31 March 2024
for
Thomas Harley's Estat• Charlty
The Rowleys Partner5hlp Ltd
Statutory Auditors
Chartered Accountant5
Charnwood House
Harcourt Way
hleridlan Buslness Park
Lelcester
Le1ceste￿hire
LE19 1WP

Thomas Harley's Estate Charlty
Contents of the Financial Statements
for the Year Ended 31 March 2024
Paqe
Reference and Adrnlnlstratlve Detalls
Trustees. Report
Report of the Independent Audltors
7 to 9
Statement of Flnanclal Actlvltles
10
Balance Shwt
11 to 12
Note5 to the Flnanclal Statements
13 to 25
Detalled Statement of Flnanclal Actlvltles
26

Thomas Harfeys Estate Charfty
Reference and Admlnfstrative Detalls
for the Year Ended 31 March 2024
NOhllNATED TRUSTEES
As appolnt•e of the Leicestershlre
County Councll
Mrs C Radford
As appointee of Osgathorpe Parlsh
Councll
M Buczkiewicz (reslgned 23.9.23)
A J Dodson (appointed 23.4.24)
A Bates (appointed 19.19.23 & reslgr*d14.11.23)
A Wessel (reslgned 9.5.23)
Rev A R Lelghton (appointed 9.5.23
As appolntee of Bishop of L•fcester
Co- opted Trustee
P HaCky￿0d
C Young Ire51sned 9.5.23)
P Sergeant
C J Sheldon
Mrs R A Glbson lappolnted 9.5.23)
Mrs S Newcombe {re5igned 9.5.23)
Receiver & Clerk
Ms S Steven50n
PRINCIPAL ADDRESS
Clo Charlty Llnk
20a Mlllstone Lane
Lelcester
LE15JN
REGISTERED CHARITY NUMBER
500537
AUDrroRS
The Rowleys Partnershlp Ltd
statutory Audltors
Chartered Accountants
Charnwood House
Harcourt Way
Merldian Buslness Park
Lelcester
Lelcestershlre
LE19 1W
INVESTMEKf MANAGERS
cc
Senator House
85 Queen Victoria Street
Lond
EC4V 4Er
BANKERS
Barclays Bank Plc
Market Place
Lelcester
LE87 ZBB
Page 1

Thoma5 Harley's Estate Charfty
Trustees. Report
for the Year Ended 31 March 2024
The tnJstee5 present thelr report with the flnancial statements of the charity for the year ended
31 March 2024. The trustees have adopted the provlslons of Accounting and Reportlng by Charities.
Statement of Recommended Practice applicabLe to charitles preparing thelr accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January
20191.
The fTnanclal statements have been prepared to give a true and falr view and have departed from the
Charitles (Accounts and Report51 Regulatlons 2008 only to the extent requlred to provide a true and falr
view. This departure has Tnvolved following the Statement of Recommended Practice for charlties applying
FRS 102 rather than the version of the Statement of Recommended PractTce which is referred to in the
regulations. but which has Since been withdrawn.
OBJEcfivES AND ACTIVITIES
Objectives and aims
The objects of the charity are to assist wherever possible those appllcant$ in need withln the classes of
beneficiaries as described in the Charity Scheme, namely WTdows, widowers and dependents of deceased
Clergy and Schools and Young Persons under the age of 25, principally from the relevant Areas of 8eneflt.
In formulating and applying these objectives, the trustees have regard to the guldance of the Charity
Commisslon on Public Beneflt.
The trustee5 seek to utlllse all of their net Income to asslst beneflclarles by awardlng rnonetary grants. In
the case of the educational irants these are to assist specific projects being undertaken by schoo15 from
the Area of Beneflt deflned as the parlshes of 05gathorpe, Belton and the former Urban Distrlct of Coalville.
The trustees look to the schoo15 to raise thelr own contrlbution to the project and If possible, match the
funds being offered by the trustees. For Young Persons the trustees are aware of the debts be5ng incurred
by students from lower.income households In attending higher educatlon. Provlding that the student's
appllcation Is strongly supported by thelr course tutor the trustees endeavour, provldSn8 funds allow, to
assist that student through thelr college / unlverslty I:ducation.
For clergy wldow5, wldowers and dependents, apart from emergency asslstance In the forrn of relief In need
8rants, the trustees award. subject to thelr financlal status, health, age and number of dependents,
temporary ald grants where the level of grant awarded 15 calculated from the Informatlon supplled by the
Diocese of Leicester Clersy Widow5 and Widowers Familie5 Commltlee.
The trustees have paid due regard to guldance Issued by the Charlty Commisslon In declding what actlVTties
the charfty should undertake.
ACHIEVEMENT AND PERFORMANCE
Charitable acthdtie5
The charity has continued Tts purposes of distributing the income in accordance with wishes of the settlor
Thjmas Harley. This allocates 75% of the income to the Relief In Need Charlty and 25% to the Educatlon
Charlty. In accordance with Scheme sealed on 2nd August 1990 by the Charlty Commlsslon thp flistrlhution
of the funds from both the Relief in Need Charity and the EducatTon Charlty are adminlstered by this charity
the Thomas Harley's Estate Charlty.
No fundralslng takes place, all income 7s recelved from investments managed by CCLA or from property.
The adrnini5tratlon of the charlty Is outsourced to Charity Link on behalf of the trustees.
Page 2

Thornas Harley's Estate Charlty
Trustees. Report
for the Year Ended 31 March 2024
FINANCIAL REVIP
Financial posftion
The trustees are advised by CCLA. As at 31st March 2024, £11.321,108 12023 £10,371,254) was invested
In the COIF Charities Investment Fund, of whlch 71.89% was in Equlties, 9.71% in Infrastructure and
operating Assets, 8.23% In Fixed interest, 1.62% in Cash and near Cash, 1.15% Sn ContractL5al and Other
Income, 3.96% in Property, 3.42% in Private Equity.
The net movement in funds, excludlng galnsl(lossesl on investments totalled £290,865 and In accordance
wlth the Scheme was allocated 75% to the Relief1n Need Charlty and 25% to the Educatlon Charlty.
The Rellef In Need Charity recelved Income of E218,148, awarded grants of £151,518 and held a balance
of Income not distributed of £531,618 at the end of the year.
Thls financlal year the net movement Dn funds for the Educatlon charity Wa5 an Increase of £27,681. The
balance of Income at the end of the flnancial year was £634,534.
The Educatlon Charity rece1ved Income of £72,715, awarded grants of £68,874 and held a balance of
Income not yet distrfbuted of £134, 534 at the end of the year. The grant5 were 5pIIt with £34,208 awarded
to schools and £34,666 awarded to young people.
Risk Management & Reserves Polky
The trustees have considered the major risks to which the charlty15 exposed and have reviewed ttr￿se risks
and establlshed systems and procedures to manage those risks. The trustees approved an Investment and
Reserves Pollcy at thelr meeting on 1st March 2017. The implementation of this policy is regularly reviewed
wlth reports received from CCL4 at trustee ffleetfngs.
The trustees conslder the safeguardlng of invested furKls and the returns on these funds to be the charltys
major f inancial risk and recent volatillty ID world stock markets has demonstrated this risk. For this reason,
the rtsk5 a550ciated wlth thFS are mitigated by outsourdng the Investment management to CCL4. where the
monles are Invested in low rlsk fund5 whlch alrn to provide stable returns for the charlty to enable It to
continue to meet its objective of maklng grants to the beneflt of the local community and those In need.
To allow for market volatility, the trustees have started the process of building up reserves whlch wlll be
equivalent to one year's Lwdgeted 8rant maKIng and held in the CCL4 COIF Cash Deposlt Fund. At 31 March
2024 the reserve5 held totalled E212,424.
FUTURE PLANS
The charity plans to continue to fulfll Its objectives as identlfled above Into the foreseeable future and to
continue to make the m05t of the beneflts It has obtalned via Its flnancial strength.
The Trustees are in the process of establishing a newly incorFy)rated Charltable Incorporated Organ15atlon
(cio) to take over the activity of the current Charities. The Charlty Commlssion have given approval, and
the transfer of assets Is underway, Thls transition wSll enable a more detalled revlew of the governance
stnjcture.
The Trustses have entered Into an Option Agreement to sell a small land holdlng, subject to planning
pem5sslon being granted. Proceeds from the sale will be utili5ed to increase the investment portfolio
and income available for distrlbution.
STRucfuRE. GOVERNANCE AND hlANAGEMEN
Governing document
The trustees obtained a Unitin£ Direction from the Charity Commi551on on 14th April 2006 $0 as to enable
the Thomas Harley's Estate Charity 1500537), Thornas Harley's Relief in Need Charlty {209951), and Thoma5
Harleys Educational Foundation (5278831 lo be treated as a sinsle charity for the purposes of Part 11
Iregi5tration) and Part vi iaccountingi of the Charities Act 2011.
Page 3

Thomas Harley's Estate Charlty
Trustees. Report
for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appofntment of new trustees
The trustee5 who served during the year and up to the date of signature of the f7nancial statements were:
Nominated Trustees
A5 appolntee of the Lefcestershlre County
Council
As appolntee of Osgathorpe Parlsh Councll
Mr5 C Radford
M Buczkiewlcz (resigned 23.9.231
A J Dodson lappolnted 23.4.24>
A Bates lappointed 19.9.23 & resigned
14.11.23)
As appolntee of Blshop of Leicester
A Wessel (reslgned 9.5.231
Rev A Leighton {appolnted 9.5.23)
Co-opted Trustees
P Hackwood
C Young Iresigned 9.5.231
Mrs G Newcombe Iresl8ned 9. 5,23
P SerBeant
C J Sheldon
R A Glbson (appointed 9.5.231
The Trust Deed state5 the body of trustees when cornplete shall conslst of 9 competent persons being:
. Three nominated trustees and
SIX co-opted trustees
Nomlnated trustees are appolnted as follows:
One by the Lelcestershlre County Councll (as local educatlon authorltyl.,
, One by the Osgathorpe Parish CoLYKiI; and
. One by the Blshop of Lelcester
The nomlnated trustees are:
Leicestershire County COU￿11 Counclllor Christine Radford
. Osgathorpe Par15h Councll - C1￿ClI10r A Dodson
Blshop of Leicester - Rev A Leighton
Co-opted trustees are persons through resldence, occupation or employment. or otherwise have speclal
knowled8e of the area of benefit. These trustee5 ar(b appolnted for a term of flve years by a resolution of
the trustees passed at a special meetin8. Any competent trustee may be re-appolnted under the terms of
the Trust Deed.
All trustees give of thelr tlme freely and no trustee remutteratlon was paid in the year. Trustees are requlred
to dlsclose all relevant interests and to wlthdraw from declsions where a potentlal confllct of Interest arf5es.
Ail grant claims and payments are reported to the trustees. In case5 where the afftounts claimed are below
E4.(J)O and assistance urgently required, the cled( investigates the claim and a grant is awarded with the
approval of the chairman and one other trustee, usually Rev A Leighton. The payments usually are to assist
claimants with funeral expenses or emergency repairs I replacement of essential electrical equipment such
as a washlng machine for a clergy widow. All other grant clalms are consTdered by the trustees at thelr bi-
annual meetlngs.
Page 4

Thomas Harley's Estate Charlty
Trustees. R•port
for the Year Ended 31 March 2024
STRUCTURE. GOVERNANCE AND MANAGEMENr
AIL trustee5 are on appointment briefed as to the objects of the charity, the background history to the
charlties and are glven copies of the Charltabie Scheme dated 2nd August 1990 and the most up-to-date
financlal accounts and perfonnance ￿pOrts from the charlty Investment advlsors, CCLA.
The chadty does rvjt employ any staff but pays an annual fee to Charity Llnk for thelr services to act as
clerk to the charlty and to manage the property assets of the charfty on behalf of the trustees.
The day-to-day management of the charltyls deLegated to Charlty Link who regularly Ila15e with P Hackwood
the chair of trustees, and Rev A Leighton who 15 the trustee appointed by the Blshop of Leicester and vtho
asslsts In identifyfng and brlngln8 forward claims from clerBy wid0v￿ and dependents resident In the Diocese
of Leicester.
STATEMENT OF TRusfEES' RESPONSIBILITIES
The trustees are responsible for preparlng the Trustee5' Report and the flnancial statements in accordance
with appllcable law and United Klngdom Accounting Standards {Unlted Kingdom Generally Accepted
Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard
appl1cable In the UK and Republlc of Ireland"
The law appllcable to charities in England and Wales, the Char(tles Act 2011, Charlty (Accounts and Reports)
Regulatlons 21Th and the provtslons of the trust deed requires the trustees to prepare flnancial statements
for each financlal year which glve a true and fair view of the state of affairs of the tharity and of the
Incomln8 resources and appllcatlon of resources, Includlng the Income and expendlture, of the charity for
that perlod. In preparlnq those flnanclal statements, the trustees are requlred to
select sultable accountlnq wllcles and then apply them con51stently;
observe the methods and princlples In the CharSty SORP (FRS 1021;
make Judgements and estlmates that are reasonable and prudent;
State whether appllcable UK Accounting Standards have been followed, subject to any materlal
departures disclosed and explained in the financlal statements; and
prepare the flnanclal statefflents on the golng concern basis unless It Is Inapproprfate to presume that
the charity will contlDue in business.
The trustee5 are responslble for keepin8 proper accountTn¥ records whlch disc105e wlth reasonable accuracy
at any time the financlal pjsltlon of the charlty and to enable them to ensure that the flnancial statements
omply with the Charities Act 2011, the Charity (Accounts and Reports) Re8ulatlons 2LYIB and the provlslons
of the trust deed. They are also responsible for safeguarding the assets of the charfty afKI hence for taking
reasonable steps for the preventlon and detection of fraud and other Irregularities.
Page 5

Thomas Harl•Ws Estate Charity
Trustees, Report
for the Year Ended 31 March 2024
Approved by order of the board of trustees on ..1 U- ..JLI(IM¢Lf.y..Zo.1.S...... and slgned on Its behalf
by:
Hac
wood - Trustee
Page 6

Report of the Independent Auditors to the Trustee5 of
Thomas Harley's Estste Charity
Oplnlon
We have audlted the flnanclal statements of Thomas Harlels Estate Charity (the'chari¢￿) for the year ended
31 March 2024 whlch comprise the Statement of Financial Activltles, the Balance Sheet and notes to the
financlal statements. Including a summary of signlficant accounting policies. The financlal reportlng
framework that has been applied in their preparatlon Is applicable law and United Kingdom Accountlng
Standards (United Kingdom Generally Accepted Accounting Practice), includlng Financlal Reportlng Standard
102'The Flnandal Reporting Standard applicable In the UK and Rewblic of Ireland..
In our oplnion the financlal statements:
qlve a true and falr vlew of the state of the charity'5 affalrs as at 31 March Z024 and of Its Inclxning
resources and applicatlon of resources. for the year then ended.
have been properly prepared In accordance wlth United Klngdom Generally Accepted Accountlng
Practice, includlng Flnanclal Reporting Standard 102 The Flnanclal Reporting Standard applicable in
UK and Republic of Ireland,; and
have been prepared in accordance wlth the requirements of the Charlties Act 2011.
Bas15 for oplnion
We conducted our audlt in accordance wlth International Standards on Auditing (UKI {ISAs (UKII and
applicable law. Our responslbllltles under those standards are further descrfbed in the Auditors.
responsibilities for the audit of the financial statements sectlon of ovr report. We are Independent of the
charlty in accordance wlth the ethical requirements that are relevant to our audlt of the financlal
statements in the UK, Includin8 the FRC'S Ethlcal Standard, and we have fulfllled our other ethical
re5ponslbilitles In accordance with these requlrements. We belleve that the audlt evlderKe we have
obtaSned Is sufflclent and appropriate to provide a bas7$ for our opinlon.
Concluslons relatln8 to golng concern
In audlting the flnancial statements, we have concluded that the trustees. use of the golng concern basis of
accounting In the preparation of the flnanclal statements is approprlate.
Based on the work y￿ have performed, we have not identifled any materlal uncertalntles relatlng to events
or condltlons that, indivldually or collectlvely, may cast signlflcant doubt on the chadty's ablllty to continue
as a golng concern for a period of at least twelve months from when the flnanclal statements are authorlsed
for Issue.
Our responslbllltles and the responslbllltles of the trustees wlth respect to 8olng concern are descrlbed In
the relevant sections of this report.
Other Informatlon
The trustees are responslble for the other Infonmation. The other Informatlon comprlses the Informatlon
Included in the Annual Report, other than the financlal statements and our Report of the Independent
Audltors thereon.
Our opinion on the flnancial 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 responsibility15 to read the other Informatlon
and, In dolng so, conslder whether the other informatlon is materlally inconsistent with the financial
statements, or our knowledge obtalned in the audlt or otherwlse appears to be materially m755tated. If we
identify such material inconsistencies or apparent materlal misstatements, we are requlred to detemiine
whether thls 8lves rise to a materlal misstatement In the financial statements themselves. If, based on the
work we have performed, we conclude that there is a material mlsstatement of thls other Infomktion, we
are required to report that fact. We have nothing to report in thls regard.
Matters on whlch we are required to report by exceptlon
We have nothing to report In respect of the following rnatters where the Charlties (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our oplnlon:
the Information given In the trustees Report Is Incons15tent Tn any materlal respect wfth the flnanclal
statements., or
sufflcient accounting records have r￿l been kept. or
the financial statements are not in agreernent with the accountlng records and returrts: or
we have not recelved all the Infonnation and explanatlons we require for our audit.
Page 7

Report of the Independent Audltors to the Trustees of
Thomas Harley's Estate Charlty
Responsibilftl•s of trustees
As explained morè fully in the Statement of Trustees. Responsibilltles, the trustees are resporsible for the
preparation of the financial statements which give a true and fair view, and for such Internal control as the
trustees determine is necessary to enable the preparation of financial staternent5 that are free from
material mlsstatement, whether due to fraud or error.
In preparlng the flnancial statements. the trustees are responsible for assessing the charltrfs ability to
continue as a going concern. disclosing, as applicable, matters related to going concern and using the golng
concern basis of accounting unless the trustee5 elther intend to Ilquldate the charity or to cease operations,
or have no reaLi5tlc alternative but to do 50.
Our respon51bllltles for the audlt of the flnanclal statsments
We have been appointed as auditors under Section 144 of the Charfties Act 2011 and report in accordance
wlth the Act and relevant regulatlons made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financlal statements as a whole are
free from materlal rnlsstatement, whether due to fraud or error, and to Issue a Report of the Independent
Auditors that Includes our oplnlon. Reasonable assurance Is a hlgh level of assurance, but Is not a guarantee
that an audlt conducted In accordance with ISAS (UKI will always detect a material mlsstatement when it
exists. Mlsstatements can arlse from fraud or err¢y and are considered material If, Individually or in the
aggregate, they could reasonably be expected to Influen￿ the economlc declsions of users taken on the
basls of these financlal statements.
IrreguLarltles, includin8 fraud, are Instances of rK)n.compllance wlth laws and regulatlons. We deslgn
procedures in Ilne with our responsibillties, outllned above, to detect material misstatements In respect of
Irre8uiarlties, Includlng fraud. The extent to whlch our procedures are consldered capable of detectlng
irregularities, Including fraud, Is detalled l)elow:
We obtalned an understandln8 of the legal and regulatory frarneworks that are applicable to the
charity and detennined that the most $18nificant whlch are dlrectly relevant to speclftc a55ertlons
In the flnanclal statements are those related to the financlal reportln8 frameworks (UK Generally
Accepted Accountln8 Practlce, the Charlt1es Act 2011) and the relevant tax compliance regulations
In the jurlsdictlon In which the charity operates.
We enquired of mana8ement, whether they were aware of any instances of non.complian￿ vAth
laws and reguiatlons or whether they had any knowledge of actual, suspected or alleged fraud:
We assessed the susceptlbility of the entity's flnanclal statements to materfal mlsstatement,
Includlng how fraud mlght occur.
Our testlng consldered unusual or unexpected Journal entrie5 on a sample basls;
We evaluated the assumptions and jud8ernentS Used by management ￿thIn slgnlffcant accountlng
estlmates and assessing if these indicate evidence of management bias.
We tested s18nificant transactlons, In partlcular the evaluatlon of the buslness rationale for any
which appear unusual or outside the charity's normal course of buslness;
We a55e55ed the appropriateness of the collective competence and capabllltie5 Of the engagement
team by understanding the practical experlence wlth audit engagements of a Similar nature and
complexity, plus ensuring the team had appropriate and relevant tralning of the financfal reporting
framework and the relevant tax compliance regulatlons speclflc to the entity:
We rcviow¢d thc financial *Jtatemcnts and tcsted the disclosures against supporting documentation;
and
We communlcated relevant matters to all members of the audit team to ensure they mderstood
the risks speclflc to the entity and the audit procedures planned to mitigate these.
Page 8

Report of the Independent Auditors to the Trustees of
Thomas Harley's Estate Charity
Because of the Inherent lim1tations of an audit, there is a rlsk that we wlll not detect all irregularities,
Including those leading to a material misstatement in the financial statements or non.compl3ance with
regulatlon. Thfs risk increases the more that compliance with a law or regulation is removed from the events
and transactions reflected in the flnanclal 5taternents, as we wlll be less Ilkely to become aware of instances
of non-compliance. The risk is also greater regarding irregularitfes occurring due to f raud rather than error,
as fraud involves intentional concealment, forgery, collusion, omlssion or rnisrepresentation.
A further descrlption of our responsibllltle5 for the audlt of the financlal statement5 is located on the
Financlal Reporting Councll's webs?te at vrnw.frc.org.uk/auditorsresponsibilities. This descrlptlon forms
part of our Report of the Independent Auditors.
Use of our report
This report Is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charfties
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we miRht State to the
charlty's trustees those matters we are required to state to them In an auditor5, report and for no other
purpose. To the fullest extent permTtted by law, we do not accept or assume responslblllty to anyone other
than the charity and the charity's trustees as a body. for our audit work, for this report, or for the opinSons
we have formed,
The Rowleys Partnership Ltd
Statutory Auditors
Chartered Accountants
Eliglble to act as an audltor In tenns of Section 121Z of the Companles Act 2006
CharnwG¥Jd House
Harcourt Way
Mertdian Buslness Park
Leicester
Lelcestershire
LE19 1WP
Ek
Date:
Page 9

Thomas Harley's Estate Charlty
Statement of Financlal Actlvities
for the Year Ended 31 March 2024
2024
2023
Restricted
funds
Unrestricted CharTtable
furKIs
Branch
Restricted
funds
Educatlonal
Branch
Total
funds
Total
funds
Notes
INCOME AND ENDOWKNTS
FROM
Charltable actlvltles
Charitable activlties
7,340
9,500
Investment income
Other income
312,814
26
312,814
26
304,492
26
Total
7,340
320,180
314 018
EXPENDrruRE ON
Charitable activlties
Charltable actlvltles
151,518
242 368
257 473
Net galnsl II05sesl on
Investments
1 068 854
1 085,354
396.957)
NET IMC¢)mEI{ExPEND￿uRE)
Transf•rs between funds
1,359,718
290,863)
1151,5181
218,148
(45,034}
15
1,163,166
{340,4121
Net movement In furbds
1,068,855
66,630
27,681
1,163.166
1340,412)
RECONCILIATION OF FUNDS
Total funds brought foTriard
10,565.106
464,988
606,853 11,636,947 11,977,359
TOTAL FUNDS CARRIED
FORWARD
11 633 961
531618
634,534 12,81)0,113
11,636 947
coKriNUING OPERATIONS
All income and expendlture have arlsen frc¥n contlnulng actlvltles.
The note5 form part of these financlal statements
Pa8e 10

Thomas Harley's Estats Charlty
Balanc• Sheet
31 March 2014
2024
2023
Restricted
funds
Unrestrfcted Charitable
funds
Branch
Restricted
fund5
Educatlonal
Branch
Total
funds
Total
funds
Notes
FIXED ASSErs
Investments
Investments
Investment property
?0 11,533,532
11,533,532 10,475.401
955,000
819.500
500,000
11,988,532
500,000 12,488,532 11,294,901
CURRENT ASSErs
Debtors
Cash at bank
12
82,025
422 982)
82,025
243 170
76,226
274,421
531,618
134 534
(340,957
531,618
134,534
325.195
350,647
CREDrroRS
Amounts falllng due wlthin
one year
13
(13,6141
(13,6141
(8,601)
NEf CURREKf ASSErs
354,571)
531 618
134 534
311 581
TOTAL ASSEfs LESS
CURRENT LIABIUTIES
11,633,961
531,618
634,534 12,800,113 11,636,947
NEf ASSErs
11 633 961
531618
634 534 12,800 113 11 636,947
The notes form part of these f1nanclal statements
Page 11
continued...

Thomas HarleWs Estate Charlty
Balance Sheet - contlnued
31 March 2024
FUNDS
UnrestrTCted funds..
Unrestrlcted funds
Falr values reserve
14
7,455,235
4,178.726
11,633.961
7,455,235
3,109.871
10 565 106
Restrlcted funds:
Restrlcted fund5 Charltable Branch
Restricted funds Educatlonal Branch
Falr value reserves - Educational Branch
531,618
134,534
500,000
464,988
123,353
483,51))
1,166,152
1071 841
TOTAL FUNDS
12 800,113
11 636 947
The fl
anclal statements were approved by the eoard of Trustees and autlh)rlsed for issue on
.25.... and were sl8ned on Its behalf by:
P Hackwood . Trustee
The notes forrn part of these financial statements
Page 12

Thomas Harley's Estate Charity
Notes to the Flnancial Statements
for the Year Ended 31 March 2024
CHARI￿ INFORMATION
Thomas Harley's Estate Charlty Is an unlncorporated charlty registered in England and Wale5, and15
governed by its trust deed. The address of the place of buslness Is given in the legal and administrative
Informatlon paqe of these flnancial statements
ACCOUNTING POLICIES
Basls of preparlng the flnanclal statements
The flnancial statanent5 of the charity, whlch Is a public benefit entlty under FRS 102, have been
prepared In accordance wlth the Charitie5 SORP IFRS 1021 'Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts In accordance
with the Flnanclal Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 102)
(effective 1 January 2019}', Flnancial Reporting Standard 102 The Financlal Reportlng Standard
applicable in the UK and Republlc of Ireland. and the Charlties Act 2011 , The financial statements
have been prepared under the hlstorical cost convention, wlth the exception of investments which
are Included at market value, as modified by the revaluation of certain assets.
Income
All income Is recognised In the statement of Flnancial Actlvlties once the charity has entftlement to
the fund5, it ?s probable that the income will be received, and the amount can be rnea5ured reliably.
Le8acle5 are recognlsed at the earller of the charity belng notlfled of an Impendlng distributlon or
the leqacy bein8 recelved.
Income from charitable actlvities prlmarlly includes Income recelved from charftable rental income,
where property Is let whlch satisfles the objectlves of the charity. Such income15 reco8nlsed on an
accruals basls.
Investment income Is earned through hold7n8 assets for Investment purposes. It comprises divldends,
whlch are recognlsed an an accruals basis.
Expendlture
All expenditure Is accounted for on an accruals basis and has been classlfled under heading5 that
aggregate all costs relatlng to the category. Expenditure is recognised when there is a legal or
constructlve obllgatTon to make a payment to a thlrd partyi It Is probable that settlement will be
required, and the amount of the obllgation can be measured ￿liablY. It is recognised under the
followlng headlngs:
Costs of ralsing funds Include investment management costs, for managin8 the portfollo of listed
Investments.
Expendlture on charltable actlvities notably Includes grant payrnents to further the delivery of the
objectives of the charity.
Irrecoverable VAT is charged against the category of resources expensed for whlch It was incurred.
All resources expended are allocated agalnst unrestrlcted funds unless they speclfically relate to
restricted fund. The surplu5 on the unrestrlcted fund Is then transferred on an annual basis against
the restricted funds on a 218 to Educati¢)n and 618 to Relief in Need restrTCted fund
Grants offered subject to condltlons which have Tr)t been met at the year-end date are noted as a
commitment but not accrued as expenditure.
Page 13
ontinued..

Thomas Harley's Estate Charlty
Notes to the Financial Statements - contlnued
for the Year Ended 31 March 2024
ACCOUNTING POLICIES - contlnued
Investment property
Investment property, whlch Is property held to earn rentals andlor for capital appreciation, is Inltially
measured at cost and subsequently measured using the falr value model and stated at Its fair Yalue
as the reportlng end date, The surplus or deflcit on revaluatlon 15 recognised in the Statement of
Flnanclal Activltie5 (SOFA),
Taxatlon
The charlty Is exempt from tax on Its charltable activitles.
Fund accountlng
Unrestrlcted funds can be used In accordance wlth the charltable objectives at the dlscretlon of the
trustees.
Restricted funds can only be used for partlcular restricted purposes withln the objects of the charlty.
Restrtctions arise when specified by the donor or when furKis are ralsed for particular restrlcted
purposes.
Further explanatlon of the nature and purpose of each fund is included In the notes to the financial
statements.
Golnq Concern
At the time of approving the finar￿Tal statements, the trustee5 have a reasonable expectatlon that
the charfty has adequate resources to contlnue in operational exlstence for the foreseeable future.
Thu5, the trustee5 cont1nue to adopt the soln8 concern basis of accountlng In preparlng the accounts.
Fixed asset Investments
Investments in equity instruments whlch are not sub5idiarles are inltlalLy recognlsed at transaction
prlce excludlng transaction costs and are subsequently measured at fair value wlth changes
recognlsed In the SOFA.
At each reportlng end date, the charlty revievts the carryinq amounts of its tanglble and Intangible
a55ets to determ7ne whether there is any Indication that those assets have suffered an lrnpalmient
loss. If any such Indlcatlon exlsts, the recoverable amount of the asset. or the asset's cash generating
unlt. is estimated and compared to the carrying am(xJnt In order to determlne the extent of the
Impairment Ioss lif any). Where the carrylnq amount exceeds its recoverable amount, an impaimient
loss is recognlsed In the SOFA unless the is carried at a revalued amount where the impalrment loss
FS a reyaluation decrease.
Cash and cash equlvalent5
Cash and cash equivalents Include cash in hand, deFK)Sits held at call wlth banks, other short.term
Ilquld investments wlth original maturltles of three months or less, and bank overdrafts.
Pase 14
contlnued...

Thomas Harley's Estate Charlty
Notes to the Flnancial Statements - corrtinued
for the Year Ended 31 hlarch Z024
ACCOUNTING POLICIES - contonued
Financial Instruments
Flnanclal instruments are recognised In the charltys balance sheet when the charity become5 party
to the Debtors and credltors wlth no stated interest rate and recelvable or payable wlthin one year
are measured at Other flnanclal assets Investments In equlty Instruments whlch are not subsidiarfes,
associates or joint ventures. are Inltlally measured at f air value, whlch Is normally the transaction
price excludlng transactlon costs. Such assets are subsequently measured at fair vaLue and the
changes In fair value are recognlsed in the SOFA, except that investments In equity Instruments that
are not publlcly traded and whose fair values cannot be measured reliably are measured at cost less
Impairment.
Impalrment of financial assets
Derivatlve financial instruments are Initlally measured at fa1r value at the date on which a derivatlve
contract is entered into and are subsequently measured at falr value through the profit Ioss
account.
Provlslons
Provlslons are recognised when the charlty has a legal or constructive present obligat1on as a result
of a past event, It Is probable that the charity will be requ1red to settle that obligation, and a reilable
estimate can be made of the amount of the obli8ation.
Crltlcal accountlni estlmates and Judgements
In the appllcatlon of the charity's accountlng pollcles, the trustees are requlred to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readlly
apparent from other 50urces. The estlmates and associated a55umptlons are based on hlstorical
experien￿ and other factor5 that are considered to be relevant. Actual results may dlffer from these
estimate5.
The estlmales and underlyfng assumpttons are revlewed on an ongolng bas15. Revislons to accountlng
estimate5 are recoqnlsed In the peraod In which the estlmate is revised where the revis70n affects
only that perlod, or In the perlod of the revislon and future perlods where the revi55on affects both
current and future periods.
Key sources of estlmation uncertalnty
The estlmates and assumptions which have a slgnlficant rlsk of causing a materlal adjustment to the
carrying amount of assets and IlabilitTes are as follows.
Valuatson of Investrnents
Irwestments are recognised Initially at falr value which Is nomally the transactlon prlce excluding
transaction cost5. Subsequently. they are Measured at fair value through proflt or loss If the shares
are publicly traded or thelr fair value can otherwise be measured reliably. Other Investments are
ffleasvred at cost less impairment.
Valuatlon of investment property
The valuation of the investment propertles is reassessed annualLy by the trustee5 and, when
nece55ary, amended lo reflect current values.
Page 15
continued..

Thomas Harley's Estate Charlty
Notes to the Flnancial Statements - contlnued
for the Year Ended 31 March 2024
INVESTMENT INCOME
2024
Total
funds
2023
Total
funds
Unrestricted Restrlcted
funds
funds
Rents received
Interest recelvable
Income from listed Investments
982
2,062
301,448
9,115
302 951
9,115
302 951
312 814
312 814
INCOME FROM CHARITABLE AcnvrriES
2024
2023
CharltabLe rental Incorne
Othèr Income
7,290
50
9,470
30
CHARITABLE ACTIVITIE5 COST5
Grant
fundin8 of
actlyltles
Isee note
71
Dlrect
Costs (see
note 6)
Totals
Expenditure on charitable actlvltles
220,392
242 368
DIRECT COSTS OF CHARrrABLE ACTivrriES
2024
2023
Repalrs to Investment propertles
Insurance
Clerk Fees
Auditors, fees
Other professlonal fees & expenses
4,509
881
7,362
7,080
2.144
15,208
2,700
6,031
5,1C(I
29.039
Page 16
continued.

Thomas Harley's Estste Charlty
Notes to the Flrkincial Statements - contlnued
for the Year Ended 31 March 2024
DIREcf COSTS OF CHARITABLE ACTIVITIES - continued
General
charftable Charltable Ed￿ationaL
expendlture
branch
branch
Total 2024
Total 2023
Clerk fee5
Repairs to inve5trnent
properties
Insurance
Audit Fees
Postage and Carriage
Sundry Expenses
Letting agent fees
Professlonal fees
Travel
Computer and Software
7,362
7,362
6,031
4,509
881
5,1(
181
41
954
483
328
158
15,208
2,7IXI
5,1(X)
881
181
954
483
328
158
21,976
GRANfs PAYABLE
Z024
2023
Grants pald
220 392
Z28 434
Pale 17
contlnued...

Thomas Harlerfs Estate Charlty
Notes to the Flnancial Statements - contlnued
for the Year Ended 31 March 2024
GRAPITS PAYABLE - contlnued
Charltable Educational
Branch
Branch
Total 2024
Total 2023
Forest Way Sch¢x)I
Whltwlck St. John the Bapt15t C of E
Primary school
Rlse Multi Academy
Bloom Ley Primary School
Hugglestone Community Prlrnary
School
Gflffydam Primary School
Iveshead School
Swannlngton C of E Primary School
Eelton Playgroup
Oakham School
Belton C of E Primary School
Newbrldge High 5chooL
Life MultT Academy
Ashby School
14,985
14,985
553
3.610
4,798
553
3,610
4,798
359
3,0(hJ
3,000
750
11,554
5,730
1.812
4,162
4,162
3,061
2,OCK)
1,1C
2,000
1,1th)
360
34,208
34,208
28,626
Charltable Educational
Branch
Branch
Total 2024
Total 2023
Grants to Indlvlduals
151,518
34,666
186,184
199,808
Page18
continued...

Thomas Harley's Estate Charity
Notes to the Flnancial Statements - contlnued
for the Year Ended 31 March 2024
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneratlon or other beneflts for the year ended 31 March 2024 nor for the
year ended 31 March 2023.
Trustees. expenses
There were no tru5tees' expenses pald for the year ended 31 March 2024 nor for the year ended
31 March 2023.
COMPARATNES FOR THE STATEMENT OF FINANCIAL ACTMTIES
Restrlcted
funds
Unrestricted Charitable
funds
Branch
Restricted
funds
Educatlonal
8ranch
Total
funds
INCOME AND ENOOWMENTS FROM
Charltable actlvltles
Charitable actlvlties
9,5CQ
9,5LKI
Investrnent Income
Other income
304,492
26
304,492
26
Total
9,500
314,018
EXPENDITURE ON
Charltable actlvitles
Charitsble actlvlties
170 058
257 473
Net galnsl(Iosses) on investments
396,9571
396,9571
NEf INCOMEI(EXPENDITURE)
Transfers between funds
1118,7781
278,1751
1170,058)
208 631
IS7,576)
69,544
(340,4121
Net movement fn funds
{396.953)
38,573
17,968
(340,412)
RECONCILIATION OF FUNDS
Total funds brought forward
10,962,059
426,415
588,885 11,977.359
TOTAL FUNDS CARRIED FORWARD
10 565,106
464 988
606,853
11 636 947
Page 19
continued.

Thomas Harley's Estate Charity
Notes to the FlnanclaL Statements - contlnued
for the Year Ended 31 March 2024
I O. FIXED ASSEf INVESTMENTS
2024
2023
Shares
Investment deposlts
11,321,108 10.371,254
212,424
104.147
11.533.532 10 475 401
Addltlonal Informatlon as fDIIow5:
Listed
Investments
MARKEf VALUE
At 1 April 2023
Revaluatlons
10,371,254
949,854
At 31 March 2024
11,321,108
NEf BOOK VALUE
At 31 March 2024
11,321 108
At 31 March 2023
10 371.254
See page three for detalled explanation of the Ilsted investrnents and where they are held.
Cost or valuatlon at 31 March 2024 Is represented by:
Llsted
Investments
Valuatlon In 2023
Capltal growth
10,371,254
949 854
Valuation In 2024
11,3Z1,108
Investments Ineither listed nor unllsted) were as follows..
2024
2023
Investment deposits
212 424
104,147
Page 20
continued...

Thomas Harle￿5 Estate Charlty
Notes to the Financlal Statement5 - contlnued
for the Year Ended 31 March 2024
INVESTMENT PROPERTY
FAIR VALUE
At l Aprll 2023
Revaluation
819,51Jl
135,500
At 31 March 2024
NEf BOOK VALUE
At 31 March 2024
At 31 Alorch 2023
Investment property comprlses land and bulldlngs In Lelcestershlre. The falr value of the investment
propertles has been arrlved at on the basis of a valuation carried out ai 12 November 2024 by Mather
Jamie Chartered Surveyors. The valuatlon was made on an open market value basis by reference to
market evldence of transactlon price5 for simllar pmperties. The trustees have reviewed the
valuation at the year end and conslder that the market has not changed slnce thls valuatlon.
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Prepayments and accrueé Income
13. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2024
2023
Other credltors
13,614
8.601
Page 21
continued..

Thomas Harley's E$tatè Charlty
Notes to the Flnanclal Statements - contlnued
for the Year Ended 31 March 2024
14. MOVEMENT IN FUNDS
Net
movement
In fun¢Js
Transfers
between
funds
At
31.3.Z4
At 1.4.23
Unrestricted fur￿5
Unrestrlcted fund5
10,565,106
1,359,718
(290,863) 11.633,961
R•strlcted funds
Restrlcted fund5 Charitable Branch
Restrlcted funds Educational Branch
Falr value reserve - Educational Branch
464,988
123,353
483,500
1151,518
{61,5341
218,148
72,715
531,618
134,534
1,071.841
(196,552
290 863
1.166 152
TOTAL FUNDS
11,636,947
1 163 166
12,800,113
Net movement In funds, Included In the above are as follows:
Incomlng
resource5
Resources
expended
Galns and Movement
losse5
in funds
Unrestdcted fund$
Unrestricted fund5
312,840
121,9761
1,068,854
1,359,718
Restrlcted funds
Restricted fMds Charltable Branch
Restrlcted funds Educatlonal Branch
1151,5181
68 8741
{151,518)
(45,034)
16,500
220 392)
(196,552)
TOTAL FUNDS
320 180
242, 368
1,085,354
1.163,166
Page 22
continued...

Thomas Harley's Estate Charlty
Notes to the Flnandal Ststernents - continued
for the Year Ended 31 March 2024
14. MOVEMENTS OF FUNDS - contlnued
Comparatlves for movement in funds
Net
movement
In funds
Transfers
between
furKIs
At
31. 3.23
At 1.4.22
Unr•strlcted funds
Unrestrfcted funds
10,962,059
(118,778)
(278,175) 10,565,106
Restrlct•d funds
Re5trlcted f￿)d5 CharltabLe Branch
Restrlcted fund5 Educatlonal Branch
Fair value reserve - Educatlonal Branch
4Z6,415
105,385
483 500
1170,058)
151,576
208,631
69,544
464,988
123,353
483 500
1 015 300
221634)
278 175
1071 841
TOTAL FUNDS
11,636 947
Net movement In fund5. Included In the above are as follows
Incomlng
Resource5
resources
expended
Galns and
1055es
Movement
In funds
Unrestrkted funds
Unrestricted funds
304,518
(26,339)
1396,957)
{118,778)
Restrlctèd funds
Restricted f￿dS Charftable Branch
Restrlcted funds Educatlonal Branch
(170,058)
610761
1170,0581
51,576)
231,134
2Z16341
TOTAL FUNDS
314.018
257 473)
396 957)
340 412)
Page 23
continued..

Thomas Harley's Estate Charity
Notes to the Flnanc7al Statements - contlnued
for tho Year Ended 31 March 2024
15. Analysis of net assets between funds Year ended 31 Ilarch 2024
Unrestrfcted Restrlcted Restrlcted
funds
Charltable
Educatk)nal
Branch
Branch
Funds balances at 31 March 2024
are represented by:
At
31.3.24
Investrnent propertles
455,fA)O
500.000
955,000
Investment
Investment dep)slt fund
Current assetsllliabTlitlesl
11,321,108
212,424
354,5711
11,321,108
212,424
531 618
134 534
11 633 961
531 618
634,534
12,800 113
Analysls of net assets between funds Year ended 31 March 2023
Unrestricted Restricted
funds
Charltable
Branch
Re5trlcted
Educatlonal
Branch
Funds balances at 31 March Z023
are represented by:
At
31.3.23
Investment properties
336,0
483,500
819,500
Investment
Investment deposlt fund
Current assets/ Iliabilltles)
10,371,254
104,147
246,295
10,371,254
104,147
123,353
10,565 106
464,988
606.853 11,636,947
The Educatlonal Branch provldes grants to schools for speclf1c projects, and to students to subsldise
thelr college l universlty education.
The Charitable BrwKh provldes temporary ald 8rants for Clergy ￿doW$, wldowers and dependents.
Fair Value Reserve - EdLKattonal Branch relates to the valuatl¢)n of investment properties held withln
the Educational Branch.
Transfers are made into the Educatfonal Branch and the Charitable Branch froffl general reserves to
fund the grant payments.
Page 24
continued.

Thomas Harley's Estate Charlty
Notes to th• Flnanclal Statements . contlnued
for the Year Ended 31 March 2024
16. RELATED PAKfY DISCLOSURES
During the year fees of £7,362 (2023 £6,031 were pald to Charlty Link for services as clerk and
recefjver to the charlty. £6,204 (2023 - £3,054) are included in accruals at the year end.
Page 25

Thomas Harley's Estate Charity
Detafled Statement of Flnanclal Actlvlties
for the Year Ended 31 March 2024
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Restricted
f￿dS
INCOME AND ENDOWMENTS
Inve5tmeTrt income
Rents received
Interest receivable
Income from listed Investments
748
9,115
302 951
982
2,062
9,115
312,814
312,814
304,492
Charltable actlvftles
Charltable rental income
Other Income
7,290
7,290
50
9,470
30
7.340
7,340
9,500
Other In¢omo
Other Income
26
26
26
Total1ncomln8 resources
312,840
7,340
320,180
314,018
EXpEND￿uRE
Charltable actlvitles
Repairs to Investment properties
Insurance
Clerk Fees
Auditors, fees
Other professlonal fees & expenses
Grants to Instltutlons
Grants to Indlvlduals
4,509
4,509
15,208
2,700
6,031
5,100
7,362
7,080
3,025
7,362
3,025
34,208
186,184
34,208
186 184
28,626
199 808
220 392
242 368
257,473
Total resources expended
21,976
220 392
242.368
257,473
Net Incomell•xpendlture)
290,864
213,0511
This page does not form part of the statutory financial statements
Page 26

This page doe5 not form part of the Statutory financ1al statements
Page 26

REGISTERED WITH THE CHARITY COMMISSIONERS 

## THOMAS HARLEY’S CHARITIES 

THOMAS HARLEY’S ESTATE CHARITY - Reg. No. 500537 _Incorporating_ 

HARLEY CHARITY FOR WIDOWS OF CLERGYMEN THOMAS HARLEY’S EDUCATIONAL FOUNDATION 

The Rowleys Partnership Ltd 

Registered Auditors 

Charnwood House 

Harcourt Way 

Meridian Business Park 

Leicester 

LE19 1WP 

Dear Sirs 

The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your audit of the charity’s financial statements for the year ended 31 March 2024. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief. 

## General 

1.  We have fulfilled our responsibilities as trustees as set out in the terms of your engagement letter, under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you. 

2.  All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. 

3.  All the accounting records have been made available to you for the purpose of your audit. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission. 

Correspondence address: The Clerk to the Trustees, Thomas Harley’s Charities c/o Charity Link, 20a Millstone Lane, Leicester, LE1 5JN Tel: 0116 222 2200 

Email: Sue.stevenson@charity-link.org  Web: www.theharleytrust.org 



4.  The financial statements are free of material misstatements, including omissions. Adjusted misstatements are agreed as set out in Appendix 1. There are no unadjusted misstatements. 

## Internal control and fraud 

5.  We acknowledge our responsibility for the design, implementation and maintenance of internal control systems to prevent and detect fraud and error. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud. 

6.  We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements. 

7.  We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entity’s financial statements communicated by current or former employees, analysts, regulators or others. 

## Assets and liabilities 

8.  The charity has satisfactory title to all assets and there are no liens or encumbrances on the charitable charity’s assets, except for those that are disclosed in the notes to the financial statements. 

9.  All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate. 

10.  We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements. 

11. We confirm that we have reviewed the carrying value of investment property, made up of land and buildings, and confirm that the value is appropriately stated at £819,500. 

## Accounting estimates 

12. Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable. 

## Legal claims 

13.  We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements. 

Correspondence address: The Clerk to the Trustees, Thomas Harley’s Charities c/o Charity Link, 20a Millstone Lane, Leicester, LE1 5JN Tel: 0116 222 2200 

Email: Sue.stevenson@charity-link.org  Web: www.theharleytrust.org 



## Laws and regulations 

14.  We have disclosed to you all known instances of non-compliance or suspected noncompliance with laws and regulations whose effects should be considered when preparing the financial statements. 

## Related parties 

15.  Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements. 

## Subsequent events 

16.  All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed. 

## Going concern 

17.  We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements. 

## Grants and donations 

18.  All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income. Restricted grants and donations are included in the financial statements. 

We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that so far as we are aware, there is no relevant audit information needed by you in connection with preparing your audit report of which you are unaware. Yours faithfully 

.............................................................................................................................. 

Signed on behalf of the board of trustees 

Date: 

- Correspondence address: The Clerk to the Trustees, Thomas Harley’s Charities c/o Charity Link, 20a Millstone Lane, Leicester, LE1 5JN Tel: 0116 222 2200 

Email: Sue.stevenson@charity-link.org  Web: www.theharleytrust.org 



**Appendix 1 – Adjusted misstatements Profit & loss Balance Impact on profit No. Description account sheet & loss account Dr/(Cr) Dr/(Cr) £ Draft result per client's management accounts** 1,027,666 1 Dr Investment property revaluation 135,500 Cr Revaluation ( 135,500) 135,500 Being revaluation of investment properties **Adjusted result** 1,163,166 ~~[—]~~ Correspondence address: The Clerk to the Trustees, Thomas Harley’s Charities c/o Charity Link, 20a Millstone Lane, Leicester, LE1 5JN Tel: 0116 222 2200 

Email: Sue.stevenson@charity-link.org  Web: www.theharleytrust.org