HOIL)TIES FOUYDATION CHARITY hllfBER 503802 TRUSTEES REPORT AIs7) FIliANCIAL STATEMENTS FOR TFtF. YEAR ENDED 31ST DECEIIBER 2022 COhryEYrs PAGE Independent Examiners Rep)rt Statement of Financial Activitios Balance Sheet 4- 8 Not¢s to the Accounts APPENDIX Charity tnfonnatlon Trustees Report HOIiNTIES FOUNDATION Page I INDEPENDENT EXALIIINERS REPORT TO THE TRL'STEF,S OF HO FOUNDATIOF4 FOR THE YEAR EfiDED 31￿ DECEMIIER 2022 I report on the accounts of the Tn￿t for the year ended 31" December 2022 which are sel out on pages 2 to 8. RESPECTtVE RESPONSIBILITIES OF TRLISTEES AN.D EXAMNER As the Ch8Jity's Trustees you are responsible for the prepa￿lon of the accounts, you consider that tlie audit requirement of section 144(2) of the Charities Act ?01 l (the Act) does not apply and that an independent examination is needed. It is mv responsibility to examine the accounts under Section 145 of the Act and to stste, onthe basis of pro¢edures specified in the General Directions given b) the Charity Commtssioners under Section 145(5Kb) of the Act, whether particular mallets have come lo my attention. BASIS OF tNDEPENDENf EXAMINTrRS REPORT My examination was carried out in a¢¢ord&n¢e with the General DirectioD5 given by the Charity Comtllisiioners. An examination include5 a review of the a¢counting records kept by the charity ￿]d a comp8Jison of the a¢¢ollnts presented iTrith those records. It also ineludes corLsideration of any unusual iterns or disclosures in the aceounts and seeking explanations from vou as Trustees concerning any such matters. The procedures ut]dertak¢n do not provide au the evidence that would be required in an audit and consequently I do not express an audit opinion on the view gi%en by the accounts. INDEPENDENT Ek4MtNER'S STAIEMEKr In comiection wilh my examillations, no m8tt¢r has corne to my attention: (l) whi¢h gtves me reasonable cause to believe that in any materia] respect the requirements to keep accounting records in accordance the ACL aJMI to prepare accounts which accord with the accounting TEcords and to comply with the ac¢ounting requirements Df the Act have not been rlletr, or (2) to lob ' h my opinion att¢ntionshould be drawn in orderto enabl¢ aprO￿r understanding of the accounts Rawcliffe and Co. Ltd, Untt l Barons CourL Grnc¢way4 BLackpool, FY4 5GP Date- 12 October 2023 HORNBIES FOUNDATION Pag¢ 2 STATEilgENT OF DECEMBER 2022 "ANCIAL AcfivITIES FOR THE YEAR ENDLNG 31sr Note 2022 2021 2020 INCOMING RESOURCES Covenanted and voluntary. iucome Investmcnt in¢ome Other Income ReaLised gain5 TOTAL INCOME 67.727 71,893 10,000 31.868 113,761 66,635 68,474 RESOURCES EXPENDED Direct charitable Charitable gifts and re¢oupment Oth¢r Ex enditure M2nagement and administration Work on fami properties TOTAL EXPENDITURE 120.000 25,000 52,000 16,778 20,701 28,834 21,890 8,58) 155,923 Net incom&l(deficiencv) for the year 88,196 39,226 STATEMENT OF OTHER REc￿NISED GA￿s Unrealised inv¢stment gaillsloosses).. (142.959) 144,204 65,983 NET MOVETrLENT IN FUNDS FOR THE YEAR 183,430 The not¢s on pag¢s 4 to 8 form part of these a¢¢ouDts. HoR￿￿[￿s FOUNDATION Page 3 BALANCE SHEET AS AT 31sf DECEMBER 21122 Not¢ 20?2 2021 2020 FIXED ASSETS Investments 4,693,768 4 926,783 4 743,461 CURRENT ASSErs Debtors Cash at Bank and in hand 28,236 31,981 32.702 32,702 44,459 48,336 Le&g'. T LIABILITIES 3,187 16,804 20,789 NET CURRENT ASSETS £27 547 TOTAL ASSETS LESS CURRENT LtABILrriES £4.723 283 £4 954 438 CAPITAL Pemanent Endowed Fund Unrestri¢t¢d funds: Capital Income Revajualion r¢serYe 1,105 1.105 1.105 2.625,508 2,768,467 2,624,263 ?49,663 337.859 298,633 1847.007 1847,¢YJ7 1,847,007 83 £4 954 438 £4 771,1108 Approved by the Trustees on 12 (knober ?023 and Si￿ed on their behalf TRUSTEE The notes pages 4 to 8 forni part of these a¢wunts. HORNBIES FOUTr4DATION Page 4 NOTES TO THE ACCOUYTS FOR THE YEAR EhWED 31ST DECEMBER 2022 I. ACCOUEfflNG POLlCtES 1.1 BASIS OF PREPARA TION OF ACCOUNTS Th¢ accounts are prepared under the historical Cost ¢onvention artd include the results of the charitgs operations which are described in the Tn]stees ReFrt)rt and all of which are continuing. The accounts have been prep￿ed in accordgllce with the Ststement of Re¢4)mmended Pra¢li¢e for Charity accounts. The charity has taken advantage of the exemption in Financial Reporting Standard No l from the requirement to produ¢e & ¢ash flow statement on ihe grounds that il qualifie5 a5 a small ¢harity. 1.2 TANCtBLE FIXED ASSETS FOR USE BY THE CHAIUTY Tangible fixed assets for use b) Ihe charity are ststed ar cost less depreciation. 1.3 INVESTMENTS tnvestmcnts are stated at market value ￿lt￿L the exception of investment properties which are to be revalued with SLtfficienl r¢gularAty in line with FRS 102 regulatiOD5. Realised and U[￿ed11$¢d gaius and I0￿eS on inv¢stsnents are dealt with in the statement of Financial ActLVities. Investment income plus associated tax recoverable is credited to income on an aC¢n￿lS basis. Using dates of payment for dividends and daily accNai for interest. Land and buildings are shown at a valuation undertaken in December 2018 plus capiul expenditure since that date. 1.4 INCOME Volwilary income aud donations are accounted for as re¢eiv¢d by the cbarity.. No pernianent endowments have beerA r¢ceived in ihe period. 1.5 VALLE ADDED TAX Value Added Tax is paniauv recoverable by th¢ Charity. otherwi5C it is included in the relevant Costs in the Slal¢m¢nt of Financi81 A¢tivities. 1.6 MANAGEMENT AND ADMtNISTRATION Expenditure on manag¢ment and administration of the charity includes ail expenditure noi direcdy related to th¢ charitable activity. HORNBIES FOUIYDATION Page 5 NOTES TO THE ACCOULYIS FOR THE YEAR E￿￿)ED 31ST DECEMBER 2022 2. COVENANfED AND VOLUNTA 2022 2021 2020 Donations from individuals Donations from corwrale spon8OfS 3. IN ESTMENT & OTFER INCOME 2022 55,510 12,217 2021 55.510 16,383 2020 56,510 10,125 R¢ntal income Income rec¢ived including way Ivaves Option to pUrc￿e land development £67,727 4. MANAGEMENT AND ADMtNISTRATtVE 2021 5,971 3,075 2,300 3.000 6,150 ?05 2020 10,445 3.075 Insurance Accountancy charges Legal and professional f¢¢s Clerks salary Property management ¢horges Trustees expen5e5 6,076 3.115 3,0(M) 4.247 340 £16 778 3,lJOO 5.370 C05t or Revaluation 5.1 INVESTMENT LAND AND BUILD]NGS 2022 2020 Th¢ following investrnent properties are owned by the ThLSi'. l. l. Lower Ilous¢ & Marsh View Famis, PR4 ITS 1.2. South Gre¢tthills Farm, PR4 3HR 1.3; Newton Hall Fann. PR4 3RT 1.4; 14.96 acres Land adj Blue¢oat School, PR4 3RT 1.5; 16.59 acres at New Hey Lgne, PR4 3SA 1.6. 80.50 acres at Wesham House FarDL PR4 3HD 1.7. Paddock Land at Bush tArke, PR4 ISA 850,000 850,000 850,000 775,000 775.000 700,000 700,(￿0 45,000 45,(KlO 50,000 50,000 725,000 725,000 ?0,000 20,￿￿ £3,165,000 £3 165 000 U 165,IKIO 700,000 45.000 50.000 725.fflr) The land and properties are shown at a valuation cenied out by SHP Valuers Limifrd on 12 De¢ember 2018. The numbering correiponds lo their nimbering Én the Traluation reporL HORNBIES FOUNDATION Page 6 'OTES TO THE Accouyfs FOR THE YEAR EThI)ED 31sf DECEMBER 2022 5.2 INVESTMEWtS- SFL4RES AND UNIT TRUSTS 13,794.72 COIF Income Shares 670.87 COIF Accumulation Shares 1,933.91 COIF Accumulation Shares 752.29 ASI Atnericah Equitv Fund A Acc Artemis LtK Cirowth Fund Cl&fs R Accumulation Artemis UK Select Fund C1&$5'C' Accurnuiation Units Barings Strdtegic Bond Fund (In¢ome Units) Fid¢lity' Sustainable European Equity Fund A-AcGumulation Fidelity Su51ainable Eurottan Equity W Acc FideLity Global SF¢cial SiÉuatiolls Fund 2022 2iO,365 147.852 426210 26.477 2021 283,708 162.701 469,017 31,880 2020 248,462 138.604 399,552 25,393 33,482 5,381.993 35.575 39,611 16,955.31 19.448 20516 10,502.93 58.554 58,594 10.917.40 57,3 l6 359.53 19.016 21,388 18,473 10,408.79 .480 Fidelity. MoneyBuilder Dividend Fidelity Money Builder Dividend Futjd A-Illcome Fidelity Money Builder Dividend Fund w tncome Fidelity South Fast Asia Fund Accumulation Fidelity Asia W A¢¢wnulation Fidelity Special Situation Fund A AXA Framlington knerican Growth Fund R Accumulation GAM UK wuitj income HSBC UK GrO￿￿h & Income Fulld Oncome C) JPM Japan FuThd B Accumulation JPM UK Equiiy Growth Fuud B Accumulalion M&G Gill & Fixed Interest Income Fund M&G Charifund- Equities Investment Fund for Chariti¢s Accumulation M&G Charifund - Income Shares Sc]m)der UK Equity Fund Z Income Schroder UK Alpha Plus Z Income SUTL Caz¢nove Charity EquiTh' Value Fund A Income Threadneedle AtnErican Selecl Fund Retsil Net A¢cumulation Funds disp)sai- further Inforn￿tiOn pending 25,189 25.387 22,400 73 52.58. 2,407.74 41,293 44,351 2,350.49 359.)3 3.368.794 36.339 15,949 36.316 16,143 34,766 13,148 34,766 2.852.46 11,401.i2 28,724 7,877 29,323 7,978 23,732 7,116 1,278.51 8,001.48 6,738 12,882 9,116 14,883 9,320 12,482 23,750.00 18,062 23.990 25,448 157.97 45.726 45.819 38.486 973.(M) 26,225.49 22,382.90 8,125.19 14298 19,538 l5,999 34,451 15,142 18.347 13,355 16,459 35.913 28,601 4.161.34 19,350 22,804 18,476 (28,313) (12.3 14) (12,314) £1272,IKI2 £1,41496l £1,238975 Pag¢ 7 Market Y*lne Market value Market gllle cotF Shares Other investments 8?4,427 915,426 786,618 452 357 £1238 975 £1272 002 £1,414 961 5.3. tNVESTMEwfs . OTHER COIF- Charity Deposit Accounl 2022 2021 2020 256.766 346,822 339.486 £256,766 £346 822 £339 486 5.4 SUNINIARY Investment la￿d & building5 Investments- Shares and unit trusts Investments- other 2022 *o?I 2020 3,165.(H)0 3,16i,000 3,165,000 1.272,00? 1,414,961 1,238,975 256,766 346.822 339,486 £4,693,768 £4,926,783 £4,743,461 6. DEB TORS 2022 2021 2020 Due within one year.. Rent debtor VAT debior 27.555 681 31.981 £31,981 7. CREDITORS 2022 3.187 2021 2020 1,450 19.339 £20 789 VAT li84bility Trade credifors 16,804 8. FUNDS OF THE CHARITY 8.1 PERMANENT ENDOWkIWt FLfND Legacy from John Hornby on 13 June 1730 20*2 £1,105 ?021 £1,105 2020 £1,105 8.2. UNRESTRICTED FUNDS- Funds brOll￿t fonyard Unreali5ed gairL&I(losses) Funds ¢t￿Tled fortvard AL ?022 2021 2020 2,768.467 2,6?A,263 ?,558,280 142,959 144,?04 65,983 £2,62i,508 £2,768,467 £2,624,263 8.3 UNRESTRICTED FUNDS- INCOME Funds brought forward incort]el(defici¢ncy) for the year Funds caNied forward 20L? 20 J37.859 298,633 88.196 39,226 L?49 663 £337 859 £298 633 20 312,634 8.4 UNRESTRICTED FUNDS- REVALUATION 2022 2021 202Q Revaluation reserve brought forword Funds carried forward 1847.007 1,847,007 1,847,007 £1847 007 £1 7 007 £1847 007 Page 8 9. CFL4RITABLE GIFfs & RECOLTPMENrs 2022 2021 2020 These are ￿ follows: Newton Bluecoat i?o,000 £120,000 25.0(K) £25,01)0 52,000 £52,000 HOILNBIES FOUNDATION CHARITY INFORMATION Appendix I TR[IS]EES MT& E.IL H8rdtDa I l Hombfv" D￿.%.e NJ%lon with s￿¢9 PTesion Mr. C. BHnnist¢r 26 SouthiaThls Preston PR4 37R PR4 2TR Mr. T.J. Parkinyon Mrs. J.C. Ben￿￿ Coronatitsn Vil Moor Ha]1 Laoc Ne￿¢0￿ with Sdes Prcsto Bl&*p)ol Road Newton with Sdes Pre5tots PR4 3BJ PR4 3RY Mr. IL Toll)bn￿n M8rsh Far Clifton Presron 32 Hill CK5ronl Newtoo with Scales Preston PR4 OXE PR4 3TR ts. G. Fo8&n The Gabl¢s New. Hey La Ne￿￿tt Seaies Mr. M. Gomall A￿￿nn Fold Th8the$ Str*t Newthn Pr¢sto PR4 3SB PR4 3RH Nfr. M. To￿11[￿*)￿ SatTrick Hall Farm Salivi¢k Pre510 Mr. J.C. MAthews 14 BeaumoDt Gar¢kn8 Pou1thL-le-F￿Idt PR4 OYJ Cl]r. P. Rigby IkTea Br(K)k Fat Wrea Br￿L Br￿ing R¢v. l. Bar)nistr Vicarage Churrh L Clifty)tt PR4 OZE PreMon PR4 JPP 50381r2 CFIARITY OFFICES Clo Viocenl Soiict 25 Pak* StreeL L)thatt FY8 SLU. INDEPEIYDEPIT EXAMK.YER l.C. Harr[￿n F.C. Rawclifft and Co. Lt Unit l BzTQn5 Co GrattM2y& Blxkpoo( FY4 5GP BANKERS HalifuPIc, Trillity Ro H81ifax, Wesl yO￿lre, ILXI 2RG HORNBIES FOUNDATION CHARITABLE TRtiST Appendix 2 TRLTSTEES, REPORT FOR THE YEAR ENDED 31sf D R 2022 The Trustees present their retM)rt and accounts for the year ended 31 December 2022. TRUSTEES The Trusiees named on appendix I have served during the year. ApFrf)intmetLt is governed by the Trust Deed of Th¢ Charity.. The Trusiee5 are authorised to appoint new Tn￿le&S to fill vacancies arising through resignation or death of an existiDg Tntstee. IN￿STMENT POWERS The Trugt Deed authorises the TNstees to make artd hold investments which it does at present and which are detailed in the acrouThts. These investments have been acquired in &c¢ordan¢e with the powers available to the TnLStees. CON ON OBJECTS AND POLICIES The Charitsble Trusi Is constituted by Trust Deed tvhi¢h entitles the Trust fund and irLcome produced to be used for the ehkrit&ble pur￿SeS 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 necds of the schiKTrI. The polic}. ofthe Charitable Tn￿t IS to review on a regular b￿15 requesL5 for fU￿rIcIal a55iStance ￿til¢b meet the obj¢¢tives and criteria of the T￿t. Funds for distribution being made from the income produced from the Charitsble Trusts investments. The ￿Sets of the Charitable Trust are h¢ld in order to produce funds for distribution. DEVELOPNIENT ACTIVITIES LND ACHIEVEMENTS The Trustees consider that the perfoman¢e of the charity this year Iw beell most satisfactory. The Trustees also ple4￿d that the Tr￿st has been able to provide ongoing support for the school. FfNANClAL REVIEW The Charitable Trust does not ask for donations from individuals or organisations, however, they would be gratefully received. FUTURE DEVELOPMENTS Thc Trvstees ar¢ ¢onotantly reviewing the F￿rfOrnIa￿C¢ of the Charity's itLvesiments and in the tight of this, it may be necess￿ from time lo lime to dispose of Such investments and re-invest &$ the Truste¢s or its advisors see fil to do so. STATEMENT OF TRUSTEES, RESPONSIBtLITtES The Tnjstees are required under the Charitie5 Aci 2011 to prq)are fin￿CIal statements for each financial ye2r which give a tn]e at￿ fair Vie￿ of the charity's finan¢ia] activities during th¢ year and of its financial position at the end of the )'ear (unless the charity is entiiled to prepare accounts on the a]t¢rnative receipts and payments basis). tn preparing financial statements giving a true al￿ fair view the Truslees should follow best practice and.. select suitable accounting policies and apply them consislently J b. make judgemen15 and estimate5 tbat are r¢asonabl¢ and pnJden¢ c. stsfr wh¢ther applicable accounting standards andsiat¢ments ofrecommended practice havebeen followed. subjeci to any departi￿eS disclosed and explailled in the finan¢ial ststements. d. prepare the financial statements on a going collcem basi5 unless it is inappropriate to presume that tho clwity will continue in operdtion. Th¢ Trustees responsible for keeping a￿Ounting records which disclose with reasonable accuracy the financial wsition of the charity and which enable them to &scertain the f￿ancial position of the charity 8md whi¢h enable them to ensure that the financial st8iemenis comply with applicable law5 aDd regulations. They are also responsible for safeguarding the assets of the cljarity and hence for takillg reason&ble steps for the prevention and detection of fraud other irregulartties. APPROVA This report was approved by the Trustees on 12 (ktober ?023 and signed on their beh3Jf. TRUSTEE Date: