H A Taylor Fund 20a, Millstone Lane Leicester LEI 5JN 22 January 2025 Somerbys Limited Chartered Accountallts 30 N¢lson Str¢¢t Leic¢stcr LEI 7BA Dear Sirs Financial Statements for the year ended 7 May 2024 The following representations are made on th¢ basis of enquiries of management and staff with relevant knowledge and experience such as we Consider necessary in connection with your independent examination of the charity's financi￿ statements for the year ended 7 May 2024. These enquiries have inclu(kd in￿ectiOn of supporting documeotation where appropriat¢ and are sufficient to satisfy OUTselves that we can make each of th¢ following representations. All representations are made to the best of OUT knowledge and belief. GeDerAI I We acknowledge that the work pgrfonned by you is substantially less in scope than an audit perforn]ed in accordance with International SI￿dar{ts on Auditing (UK) and that you do not express an audit opinion. 2 We confm that tbe charity was entitled to exemption under section 144 of the Charities Act 2011 the r¢quirement to have its financial statements for the finaocial year ended 7 May 2024 audited. 3 We have fvlfilled our responsibililics a5 t￿￿teeS ￿ set out in the tern￿ of YOUT engagement letter dat¢d 22 January 2019, under the Clwities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdoin Generally Accepted Accounting Practice), for b¢ing satisfied that they give a true and fair view and for making accurate representations to you. 4 All the transaclions undertaken by the charity have been properly Teflected and recorded in the accounting Tecords. 5 All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and Telated inforn]ation requesrf including lljinules of all management and trustee meetings and CO￿eSpondence with The Charity Commissio 6 Th¢ financial statements are free of rnateTial tUi55tat¢ments. including omissions. Assets and liablllties 7 The charity has satisfactory title to all ass¢ts and there are no liens or encumbrances on the charity's a55ets. except for those that aTe disclosed in the notes ￿ the fioancial statements. 8 All ac￿1 liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate. 9 We have no plans OT intentions that may materially alter the carrying Yalue and where rclevant the fair value measurements or classification of assets and liabilities reflected in the f￿1￿Cial statements. Accountlng estimates Legal claims I I We have disclosed to you all claims in connection with litigation that have bee￿ OT are expected to be. receiv¢d and such matt¢rs. as appropriate, hav¢ been property accounted for, and disclosed in, the financial statements. Laws And regulations 12 We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be consid¢red when preparing the financial statements. Related parties 13 Related paty relatiojthips and transactions have been appropriately accounted for and disclosed ill th¢ financial statements. We have disclosed to you all relevant infom]ation concerning su¢h relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accountlDg standards requirements. Subsequent events 14 All events subsequent to the date of the [n￿l¢la1 statements which require adjustsnent or disclosure have been properly accounted for and dis¢losed. Golng concern 15 We believe that the charl￿5 financial statements should be prepared on a going concern basis on the grounds that Qu￿ent aDd future sources of fijnding or support will be more than adequate for the charity's needs. We have ¢on5idered a perAod of twelve months from the date of approval of the fllwjcial statements. We belleve that tso fiuther disclosures Telating to the charity's ability to continue as a going concern need to be made in the finaDcial sla*tnents. Grants *nd donations 16 All grants, donations and other incom& tbe receipt of which is subject to specific tem]s or conditions, have been notified to yixi. There have been no breaches of ternis or conditions in the application of such income. Yours faIth￿ILY On behalf of the board . G. Lilley H A TAYLOR FUND REGISTERED CHARITY No. 516428 FINANCIAL STATEMENTS FOR THE YEAR ENDED MAY 2024 H A TAYLOR FUND- Registered Charlty No. 516428 LEGALAND ADMINISTRATIVE INFORMATION Trustee5 Mrs A Barkley Mr P Black Mrs J Branston no longer a trustee at 13110/2024 Mrs L Chetwynd Mr C Iliffe Mr G Lilley {Chaimian) Mrj Lucas Mr M McLoughlin Mrs C Newman Mrs L Parish Mrs E Yarwood (Vice Chairman Secretary Ms J Earl Registered office and prinapal address 20a Mtllstone Lane Leicester LEI SJN Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling. Kent ME19 4JQ Administrators Charity Link 20a Mi115tone Lane Leicestei LEI 5JN Investment Managers Charle5 Stanley Ltd 4th Floor, Mercury Place St George Street Leicester LEI IQG Independent Examiner MA West Somerbys Ltd 30 Nelson Street Leicester LEI 7BA H A TAYLOR FUND CONTENTS YEAR ENDED 7 MAY 2024 Page Trustees. report Independent Examiner's report Slat8ment of financial aclivities Balance sheet Notes to the accounts 7-12 H A TAYLOR FUND ANNUAL REPORT YEAR ENDED 7 MAY 2024 The Trustees present their report and accounts for the year ended 7 May 2024This report is prepared in accordance with the Charity Scheme and the Statement of Recommended Practice- Accounting and Reporting by Charities (SORP 2015 FRS 102) and complies with applicable law. Objects The principal object of the Fund is the relief of persons resident in the parish of Syston who are in conditions of need, hardship or distress, by making grants of money or paying for items, services or facilities that might reduce the need, hardship or distress of such persons. Grants may also be made to institutions or organisations that undertake in return to provide items. Services or facilities for such persons. Structure. Governance and Management The Fund was established under a Charity Scheme dated 15 November 1984. Trustees Detai15 of the Trustees who have Se￿ed durTng the year and since the year-end can be found in the legal and administrative information at the front of this document. Appointment of Trustees The Trust Deed provides for eleven Trustees of whom seven are CO￿ptative Trustees and four are nominative Trustees. Nominative Trustees are appointed by Syston Parish Council. Co-optative Trustees are appointed at a special meeting of the Trustee5. A copy of the Charity Scheme and any amendment to it and a copy ofthe Fund'5 latest annual report and accounts are provided to any newTrustee. Publlc Benefit The Trustees confirm that they have referred to the guidance contained in the Charty Commission's general Euidance on public benefrt when reviewing the Fund's aims and objectives and in planning future activities. Adminlstration and Meetings The Fund engages the services of Charity Link (Leicester Charity Organisation Society), who act as Clerk to the Trustees, to look after the day to day functions and arrange meetings of the Board of Trustees. The Trustees held six ordinary meetin8s and one special meeting. All meÈtin85 were conducted in per50n. Risk Management The Trustees continue to a55ess the major risks to which the Fund is exposed and are satisfied that systems are in place to mitigate exposure to these risks. The main risk to the Fund is considered to be fluctuations in investment perfomiance. Investment Managers are appointed and report to the Trustees regularly. Achievements and Perfornianee The Trustees continued to provide a5SiStance to people INing in Syston who are in need, hardship or distress, either directly or through organisations that provide appropriate services. The amount of grants awarded and paid to individuals and institutions duringthe yearwas £18,600, which compared with £14,490 during the previou5 year. Investments The Trustees have wide powers to invest money in the purchase of stocks, shares, funds, securities or other investments at theirabsolute discretion. The investments are reviewed in conjunction with the stockbroker5 on a regular basis. At the year-end. the market value of the portfolio was £678.749, excluding un-invested cash, compared with £644,181 a year earlier. H A TAYLOR FUND ANNUAL REPORT YEAR ENDED 7 MAY 2024 Financial Review The statement of financial activities on page 4 shows net outgoin8 resources for the yearof £7,998 compared with outgoing resources £1,947 for the previou5 year. Income increased from £26,161 in the prior year to £27,383. Tot31 resources expended increased from £28,108 to £35,381. There wa5 a surplus during the year on the endowment (capital) fund of £38,785 comprising realised and unrealised gains on investments. At the end of the year. the endowment fund stood at £692.395 represented by listed investment5 at market value and a Small amount of un-invested cash. Unrestricted fund5, meanwhile, totalled £35.808 comprising the b31ance of net current assets. Reserve5 Policy It is the policy of the Trustees to maintain unrestricted funds, which include the free reserve5 of the Fund, at level that, in the event of a significant fall in income, would provide sufficient funds to meet the ongoing operating expenditure. The Trustees considered the free reserves held at the year*nd to be ample. Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements In accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England & Wales require5 the Trustees to prepare financial statements for each financial year that glve a true and fair view of the state of affairs of the Fund and of the incoming rÈsaurces and application of resources for the Fund for that period. In preparing thÈse financial statements. the Trustees are required to.. select suitable accounting policies and then apply them consistendy; Observe the methods and principle5 in the Charities. SORP,. Make judgements and e5timate5 that are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Fund will continue in operation. The Trustees are responsible for keeping proper accounting record5 that disclose with reasonable accuracy at any time the financial p051tion of the Fund and enable them to ensure that the financial Statements comply wlrh appllcable law. regulations and the Charity Scheme. They are also responsible for safeguarding the assets of the Fund and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, Advisers The Trustees wish to record their thanks to all of their profe55ional advisers for their help and advice throughout the year. On behalf of the board of Trustees G Lilley Chairman 22 January 2025 H A TAYLOR FUND INDEPENDENT EXAMINERS REPORT YEAR ENDED 7 MAY 2024 I report to the charity trustees on my examination of the accounts of the charity for the year ended 7 May 2024 which are set out on pages 4 to 12. Responslbilitie5 and basis of report A5 the charity's trustees you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Charities Act 20111'the Art,). I report in respect of my examination of the chartty's accounts carried out under section 145 of the Act and In carrying out my examination I have followed all the applicable Directions wven by the Charity Commission under section 145(5){b) of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Att,. or the accounts do not accord with those records. or 3. the accounts do not complywith the applicable requirements concerningthe form and content of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a 'true and fairVie￿ which is not a matter considered a5 part of an independent examination. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in orderto enable 3 proper understanding of the account5 to be reached. Alex M West FCA Somerbys Limited Chartered Accountants 30 Nelson Street Leicester LEI 78A H A TAYLOR FUNO STATEMENT OF FINANCIAL AcfiviTIE5 FOR THE YEAR ENDED 7Th MAY 2024 Unrestrlrted Endowment Totsl Funds Total Fund$ Fund Fund 2024 20Z3 INCOME ANO ENDOWMENTS FROM: Inve5trnent5 B3nk interest Donation5 and le8acie5 Total income 26.024 1.359 26.024 1,359 25,610 551 27.383 27.383 26,161 EXPENDrruRE ON: Cost ol genefalinl funds: Investment management fees Charitable actl¥ttles: Grants in furtherance of the objects Support costs Totsl expendlture 5,623 5,623 5,809 18.600 11.158 35.381 14.490 7,809 28,108 11.158 29.758 5,623 Net income/{expenditurel before Invertment galnsl{losMsl: (2,3751 15.6231 17.9981 11,9471 Transfers between funds Net gain51llossesl on investments 38,785 38,785 144,056} Net movement Sn funds (2,3751 33.162 30.787 146,0031 Re¢on¢lllatlon of fvnds.. Totsl funds brought forward at 8th May 2023 Total funds carried forward at 7th May 2024 38.183 35.808 659,233 692.395 697.416 728.203 743,419 697,416 H A TAYLOR FUND STATEMEWT OF FINANaAL ACTNMES FOR THE YEAR ENDED 7TH MAY 2024 Unrestrkted Endowment Total Funds Fund Fund 1023 Previous flnanrial ar Notes IP4COME AND ENDOWMENTS FROM: Investments Bank interest Donations and legacies Total incomt 2S.610 551 25.610 SSI 26.161 26,161 EXPENDIWRE ON: Cost of generating funds: Investment management fees Charltable actl¥ltie5: Grants in furtherance of the objects Support costs Total expenditure 5,809 5,809 14.490 7.809 22,299 14,490 7,809 28.108 5,809 Nel Income/lexpÈndlturel before Investment galns/1105se$): 3,862 15.8091 11,9471 Transfers between funds Net gainsll105sesl on investments {44.056 144,0561 Net movement in funds 3.862 {49.8651 (46.0031 Reconciliation of funds: Total funds brought forward at 8th May 2022 Total funds ￿ffled forward at 7th May 2023 34.321 38,183 709.098 659.233 743,419 697,416 H A TAYLOR FUND BALANCE SHEEf AS AT 7TH MAY 2024 Totsl Funds 2024 Total Funds 2023 FIXED A55Efs: Investments 678,749 644,181 CURRENT ASSFrs: Cash at bank and in hand Debtor5 and prepayments 53,239 1.534 54.773 57.207 57,207 CURREpif LIABILITIES: Credwtors.. amounts falling due within one year NET CURRENT ASSETS ILIA8IUTIESI TOTAL NET ASSETS 5,319 49,454 728,203 3,972 53,235 697.416 FUNDS: Enduwment- capital fund Unrestricted fund 692,395 35,808 659.233 38.183 TOTAL CHARITY FUNDS 728,203 697,416 Approved by the Tru5tee5 22 January 2025 and signed ontheir behalf bv Glyn Ltlley. Chairman H A TAYLOR FUNO NOTES TO THE Accoupif5 YEAR ENDED 7TH MAY 2024 1. BASIS OF PREPAIIATION 1.1 Basis of accountlng These financial statemerbts have prepared underthe h￿Orts1 cost convention with items recognised at C05t Dr transaction value unless otherwise stated in the relevant note{sl to these accounts. The financlal stateThÈnts are presented In sterlin& which 15 the functional currency of the ch3rity. The financial statements have been prepared in accordance with the Ststement of Recornmended Pra￿Ce. Accounting and Reporting by Charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 JU￿ 2014 las updated through Update Bulletin I published on 2 February 20161, and with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. the Charities Art 2011 and UK Generally Accepted Prathce as it applies from lJanuary2015. The charity has applied Updated Bulletln l as published on 2 February 2016 and does not include a cash flo statemertt on the grounds that it is applying FRS 102 Se¢tlon IA. The cfvarity Constitutes a public benefrt entity as defined by FAS 102. 1.2 Golng con¢ern The financial statements are prepared on a golng ccfficem basis. 1.3 Accounting polifies The 51Bnificant accounting poll¢les applied in the weparation of these financial statements are set In Note 2 below. These poll¢ies have been consistently applied to all years presented unle55 othenwi5e stated. 1.4 ChanEÈs to ac