DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 ## **HORNBIES FOUNDATION** ## **CHARITY NUMBER 503802** **TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021** ## **CONTENTS** ## PAGE 1. Independent Examiners Report 2. Statement of Financial Activities 3. Balance Sheet - 4 – 8 Notes to the Accounts ## APPENDIX 1. Charity Information 2. Trustees Report DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Page 1 ## **HORNBIES FOUNDATION** ## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF HORNBIES FOUNDATION FOR THE YEAR ENDED 31[ST] DECEMBER 2021** I report on the accounts of the Trust for the year ended 31[st] December 2021 which are set out on pages 2 to 8. ## RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER As the Charity's Trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under Section 145 of the Act and to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under Section 145(5)(b) of the Act, whether particular matters have come to my attention. ## BASIS OF INDEPENDENT EXAMINERS REPORT My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. ## INDEPENDENT EXAMINER'S STATEMENT In connection with my examinations, no matter has come to my attention: - (1) which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with the Act, and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or (2) to which in my opinion attention should be drawn in order to enable a proper understanding of the accounts to be reached. ___________________________________ I.C. HARRISON F.C.A Rawcliffe and Co. Ltd, Unit 1 Barons Court, Graceways, Blackpool, FY4 5GP Date: 27[th] September 2022 DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Page 2 ## **HORNBIES FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31[ST] DECEMBER 2021** |INCOMING RESOURCES
Covenanted and voluntary income
Investment income
Other Income
Realised gains
TOTAL INCOME
RESOURCES EXPENDED
Direct charitable
Charitable gifts and recoupment
Other Expenditure
Management and administration
Work on farm properties
TOTAL EXPENDITURE
Net income/(deficiency) for the year
STATEMENT OF OTHER RECOGNISED GAINS
Unrealised investment gains/(losses):
**NET MOVEMENT IN FUNDS FOR THE YEAR**|Note
2
3
3
9
4||2021
-
71,893
10,000
31,868|2020
-
66,635
-
1,839|2019
-
65,620
-
-| |---|---|---|---|---|---| ||||113,761|68,474|65,620| ||||25,000
20,701
28,834|52,000
21,890
8,585|35,000
15,899
9,266| ||||74,535|82,475|60,165| ||||39,226
(14,001)||5,455| ||||144,204
65,983||188,853| ||||**183,430**
**51,982**||**194,308**| The notes on pages 4 to 8 form part of these accounts. DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Page 3 ## **HORNBIES FOUNDATION** ## **BALANCE SHEET AS AT 31[ST] DECEMBER 2021** |Note
FIXED ASSETS
Investments
5
CURRENT ASSETS
Debtors
6
Cash at Bank and in hand
Less:
CURRENT LIABILITIES
7
NET CURRENT ASSETS
**TOTAL ASSETS LESS CURRENT LIABILITIES**
CAPITAL
Permanent Endowed Fund
8
Unrestricted funds:
Capital
8
Income
8
Revaluation reserve
8|2021
2020
2019
4,926,783
4,743,461
4,667,587| |---|---| ||28,236
31,981
6,165
16,223
16,355
46,705| ||44,459
48,336
52,870
16,804
20,789
1,431| ||£27,655
£27,547
£51,439| ||**4,954,438**
**£4,771,008**
**£4,719,026**| ||1,105
1,105
1,105
2,768,467
2,624,263
2,558,280
337,859
298,633
312,634
1,847,007
1,847,007
1,847,007| ||**£4,954,438**
**£4,771,008**
**£4,719,026**| Approved by the Trustees on 27[th] September 2022 and signed on their behalf ________________________________________ TRUSTEE The notes on pages 4 to 8 form part of these accounts. DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Page 4 ## **HORNBIES FOUNDATION** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021** ## 1. ACCOUNTING POLICIES ## 1.1 BASIS OF PREPARATION OF ACCOUNTS The accounts are prepared under the historical cost convention and include the results of the charity's operations which are described in the Trustees Report and all of which are continuing. The accounts have been prepared in accordance with the Statement of Recommended Practice for charity accounts. The charity has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it qualifies as a small charity. ## 1.2 TANGIBLE FIXED ASSETS FOR USE BY THE CHARITY Tangible fixed assets for use by the charity are stated at cost less depreciation. ## 1.3 INVESTMENTS Investments are stated at market value with the exception of investment properties which are to be revalued with sufficient regularity in line with FRS 102 regulations. Realised and unrealised gains and losses on investments are dealt with in the statement of Financial Activities. Investment income plus associated tax recoverable is credited to income on an accruals basis, using dates of payment for dividends and daily accrual for interest. Land and buildings are shown at a valuation undertaken in December 2018 plus capital expenditure since that date. ## 1.4 INCOME Voluntary income and donations are accounted for as received by the charity. No permanent endowments have been received in the period. ## 1.5 VALUE ADDED TAX Value Added Tax is partially recoverable by the charity, otherwise it is included in the relevant costs in the Statement of Financial Activities. ## 1.6 MANAGEMENT AND ADMINISTRATION Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity. DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Page 5 ## **HORNBIES FOUNDATION** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021** |2.COVENANTED AND VOLUNTARY INCOME
2021
2020
2019
Donations from individuals
-
-
-
Donations from corporate sponsors
-
-
-
**-**
**-**
**-**
3.INVESTMENT & OTHER INCOME
2021
2020
2019
Rental income
55,510
56,510
55,510
Income received including way leaves
16,383
10,125
10,110
Option to purchase land development
10,000
-
-
**£81,893**
**£66,635**
**£65,620**
4.MANAGEMENT AND ADMINISTRATIVE EXPENDITURE
2021
2020
2019
Insurance
5,971
10,445
4,568
Accountancy charges
3,075
3,075
3,075
Legal and professional fees
2,300
-
-
Clerks salary
3,000
3,000
3,120
Property management charges
6,150
5,370
4,895
Trustees expenses
205
-
241
**£20,701**
**£21,890**
**£15,899**
5.INVESTMENTS
Cost or Revaluation
5.1INVESTMENT LAND AND BUILDINGS
2021
2020
2019
The following investment properties are owned by the Trust:
1.1; Lower House & Marsh View Farms, PR4 1TS
850,000
850,000
850,000
1.2; South Greenhills Farm, PR4 3HR
775,000
775,000
775,000
1.3; Newton Hall Farm, PR4 3RT
700,000
700,000
700,000
1.4; 14.96 acres Land adj Bluecoat School, PR4 3RT
45,000
45,000
45,000
1.5; 16.59 acres at New Hey Lane, PR4 3SA
50,000
50,000
50,000
1.6; 80.50 acres at Wesham House Farm, PR4 3HD
725,000
725,000
725,000
1.7; Paddock Land at Bush Lane, PR4 1SA
20,000
20,000
20,000
**£3,165,000**
**£3,165,000**
**£3,165,000**|2.COVENANTED AND VOLUNTARY INCOME
2021
2020
2019
Donations from individuals
-
-
-
Donations from corporate sponsors
-
-
-
**-**
**-**
**-**
3.INVESTMENT & OTHER INCOME
2021
2020
2019
Rental income
55,510
56,510
55,510
Income received including way leaves
16,383
10,125
10,110
Option to purchase land development
10,000
-
-
**£81,893**
**£66,635**
**£65,620**
4.MANAGEMENT AND ADMINISTRATIVE EXPENDITURE
2021
2020
2019
Insurance
5,971
10,445
4,568
Accountancy charges
3,075
3,075
3,075
Legal and professional fees
2,300
-
-
Clerks salary
3,000
3,000
3,120
Property management charges
6,150
5,370
4,895
Trustees expenses
205
-
241
**£20,701**
**£21,890**
**£15,899**
5.INVESTMENTS
Cost or Revaluation
5.1INVESTMENT LAND AND BUILDINGS
2021
2020
2019
The following investment properties are owned by the Trust:
1.1; Lower House & Marsh View Farms, PR4 1TS
850,000
850,000
850,000
1.2; South Greenhills Farm, PR4 3HR
775,000
775,000
775,000
1.3; Newton Hall Farm, PR4 3RT
700,000
700,000
700,000
1.4; 14.96 acres Land adj Bluecoat School, PR4 3RT
45,000
45,000
45,000
1.5; 16.59 acres at New Hey Lane, PR4 3SA
50,000
50,000
50,000
1.6; 80.50 acres at Wesham House Farm, PR4 3HD
725,000
725,000
725,000
1.7; Paddock Land at Bush Lane, PR4 1SA
20,000
20,000
20,000
**£3,165,000**
**£3,165,000**
**£3,165,000**||2021
-
-|2021
-
-|2020
-
-|2019
-
-| |---|---|---|---|---|---|---| ||||**-**||**-**|**-**| ||||2021
55,510
16,383
10,000||2020
56,510
10,125
-|2019
55,510
10,110
-| |||**£81,893**|||**£66,635**|**£65,620**| ||||||2020
10,445
3,075
-
3,000
5,370
-|2019
4,568
3,075
-
3,120
4,895
241| |||||||| ||||**£20,701**||**£21,890**|**£15,899**| ||||2021|Cost or Revaluation||2019
850,000
775,000
700,000
45,000
50,000
725,000
20,000| ||||||2020
850,000
775,000
700,000
45,000
50,000
725,000
20,000|| ||**£3,165,000**
**£3,165,000**
**£3,165,000**|||||| The land and properties are shown at a valuation carried out by SHP Valuers Limited on 12[th] December 2018. The numbering corresponds to their numbering in the valuation report. DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Page 6 ## **HORNBIES FOUNDATION** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021** |5.2INVESTMENTS–SHARES AND UNIT TRUSTS
13,794.72
COIF Income Shares
670.87
COIF Accumulation Shares
1,933.91
COIF Accumulation Shares
752.29
ASI American Equity Fund A Acc
-
Artemis UK Growth Fund Class R
Accumulation
5,381.993
Artemis UK Select Fund Class 'C'
Accumulation Units
16,955.31
Barings Strategic Bond Fund (Income
Units)
10,502.93
Fidelity Sustainable European Equity
Fund A-Accumulation
359.53
Fidelity Global Special Situations Fund
A
10,408.79
Fidelity MoneyBuilder Dividend
44.480
Fidelity Money Builder Dividend Fund
A-Income
2,407.74
Fidelity South East Asia Fund
Accumulation
359.53
Fidelity Special Situation Fund A
3,368.794
AXA Framlington American Growth
Fund R Accumulation
2,852.46
GAM UK equity income
-
HSBC UK Growth & Income fund
(Retail Income)
11,401.52
HSBC UK Growth & Income Fund
(Income C)
-
JPM UK Strategic Fund A
Accumulation
-
JPM Japan Fund A Accumulation
1,278.51
JPM Japan Fund B Accumulation
8,001.48
JPM UK Equity Growth Fund B
Accumulation
23,750.00
M&G Gilt & Fixed Interest Income
Fund
157.97
M&G Charifund - Equities Investment
Fund for Charities Accumulation
973.00
M&G Charifund - Income Shares
-
Perpetual High Income Fund - Income
Shares
-
Perpetual Japan Growth Accumulated
26,225.49
Schroder UK Equity Fund Z Income
8,125.19
SUTL Cazenove Charity Equity Value
Fund A Income
4,161.34
Threadneedle American Select Fund
Retail Net Accumulation|2021
283,708
162,701
469,017
31,880
-
39,611
19,448
58,554
21,388
25,387
64
41,293
16,143
34,766
29,323
-
7,978
-
-
9,116
14,883
23,990
45,819
15,142
-
-
18,347
35,913
22,804|2020
248,462
138,604
399,552
25,393
33,482
-
20,516
58,594
18,473
22,400
73
44,351
13,148
34,766
23,732
-
7,116
-
-
9,320
12,482
25,448
38,486
13,355
-
-
16,459
28,601
18,476|2019
233,527
126,248
363,934
22,438
31,916
-
21,025
53,567
15,805
27,167
88
35,972
15,050
26,401
28,496
8,746
-
-
6,727
-
-
23,869
44,184
16,159
-
-
20,243
34,126
15,439| |---|---|---|---| DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 |-
Funds disposal - further information
pending
COIF Shares
Other investments
5.3.INVESTMENTS-OTHER
COIF - Charity Deposit Account
5.4SUMMARY
Investment land & buildings
Investments – shares and unit trusts
Investments – other
6.DEBTORS
Due within one year:
Rent debtor
VAT debtor
7.CREDITORS
VAT liability
Trade creditors
8.FUNDS OF THE CHARITY
8.1PERMANENT ENDOWMENT FUND
Legacy from John Hornby on 13th June 1730
8.2.UNRESTRICTED FUNDS–CAPITAL
Funds brought forward
Unrealised gains/(losses)
Funds carried forward
8.3UNRESTRICTED FUNDS–INCOME
Funds brought forward
Net income/(deficiency) for the year
Funds carried forward|||(12,314)||(12,314)|Page 7
-| |---|---|---|---|---|---|---| ||||**£1,414,961**
**Market**
**value**
915,426
499,535||**£1,238,975**
**Market**
**value**
786,618
452,357|**£1,171,127**
**Market**
**value**
723,709
447,418| |||||||| ||||**£1,414,961**||**£1,238,975**|**£1,171,127**| ||||2021
346,822|2020
339,486||| |||||||| ||||2021
27,555
681|2020
31,981
-||| ||||**£28,236**|**£31,981**||| ||||2021
-
16,804|2020
1,450
19,339||| ||||**£16,804**|**£20,789**||| ||||2021
**£1,105**|2020
**£1,105**||| |||||||| |||2021
2020
298,633
312,634
39,226
(14,001)||||| DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Page 8 |9.CHARITABLE GIFTS & RECOUPMENTS
These are as follows:
Newton Bluecoat
8.4UNRESTRICTED FUNDS–REVALUATION
Revaluation reserve brought forward
Funds carried forward||2021
2020
2019
1,847,007
1,847,007
1,847,007|2021
2020
2019
1,847,007
1,847,007
1,847,007|2021
2020
2019
1,847,007
1,847,007
1,847,007|2021
2020
2019
1,847,007
1,847,007
1,847,007| |---|---|---|---|---|---| |||**£1,847,007**
**£1,847,007**
**£1,847,007**|||| ||||2021
25,000|2020
52,000|2019
35,000| |||**£25,000**||**£52,000**|**£35,000**| DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Appendix 1 ## **HORNBIES FOUNDATION CHARITY INFORMATION** ## **TRUSTEES** Mrs. E.R. Hardman Mr. C. Bannister 11 Hornby Drive 26 Southlands Newton with Scales Kirkham Preston Preston PR4 3TR PR4 2TR Mr. T.J. Parkinson Mrs. J.C. Benson Church Farm Coronation Villa Blackpool Road Moor Hall Lane Newton with Scales Newton with Scales Preston Preston PR4 3RJ PR4 3RY Mr. R. Tomlinson Marsh Farm Clifton Preston PR4 0XE Mr. W. Winlow 32 Hill Crescent Newton with Scales Preston PR4 3TR Mr. G. Fogden Mr. M. Gornall The Gables Autumn Fold New Hey Lane Thames Street Newton with Scales Newton Preston Preston PR4 3SB PR4 3RH Mr. M. Tomlinson Mr. J.C. Mathews Salwick Hall Farm 15 Beaumont Gardens Salwick Poulton-le-Fylde Preston Lancashire PR4 0YJ FY6 7NX Cllr. P. Rigby Wrea Brook Farm Wrea Brook Lane Bryning Kirkham Preston PR4 3PP **CHARITY NUMBER** 503802 **CHARITY OFFICES** C/o Vincent Solicitors, 25 Park Street, Lytham, FY8 5LU, **INDEPENDENT EXAMINER** I.C. Harrison F.C.A. Rawcliffe and Co. Ltd, Unit 1 Barons Court, Graceways, Blackpool, FY4 5GP **BANKERS** Halifax Plc, Trinity Road, Halifax, West Yorkshire, HX1 2RG DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 Appendix 2 ## **HORNBIES FOUNDATION CHARITABLE TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021** The Trustees present their report and accounts for the year ended 31[st] December 2021. ## TRUSTEES The Trustees named on appendix 1 have served during the year. Appointment is governed by the Trust Deed of The Charity. The Trustees are authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Trustee. ## INVESTMENT POWERS The Trust Deed authorises the Trustees to make and hold investments which it does at present and which are detailed in the accounts. These investments have been acquired in accordance with the powers available to the Trustees. ## CONSTITUTION, OBJECTS AND POLICIES The Charitable Trust is constituted by Trust Deed which entitles the Trust fund and income produced to be used for the charitable purposes as set out in the trust deed. Since the inception of the Trust the main area of funding has been in assisting the development and needs of the school. The policy of the Charitable Trust is to review on a regular basis requests for financial assistance which meet the objectives and criteria of the Trust. Funds for distribution being made from the income produced from the Charitable Trusts investments. The assets of the Charitable Trust are held in order to produce funds for distribution. ## DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS The Trustees consider that the performance of the charity this year has been most satisfactory. The Trustees are also pleased that the Trust has been able to provide ongoing support for the school. ## FINANCIAL REVIEW The Charitable Trust does not ask for donations from individuals or organisations, however, they would be gratefully received. ## FUTURE DEVELOPMENTS The Trustees are constantly reviewing the performance of the Charity's investments and in the light of this, it may be necessary from time to time to dispose of such investments and re-invest as the Trustees or its advisors see fit to do so. DocuSign Envelope ID: 62366660-7838-4674-9658-39026D2F9065 ## STATEMENT OF TRUSTEES' RESPONSIBILITIES The Trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view the Trustees should follow best practice and: a. select suitable accounting policies and apply them consistently; b. make judgements and estimates that are reasonable and prudent; c. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; d. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable laws and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## APPROVAL This report was approved by the Trustees on 27[th] September 2022 and signed on their behalf. TRUSTEE Date: 27 September 2022