## **H A TAYLOR FUND**
**REGISTERED CHARITY No. 516428**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 7[th] MAY 2025**
## **H A TAYLOR FUND - Registered Charity No. 516428**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**_____________________________________________________________________________**
Trustees Mrs A Barkley Mr P Black (Vice Chair) Mrs J Branston (deceased 13[th] October 2024) Mrs L Chetwynd Mr C Iliffe Mr G Lilley (Retired March 2025) Mr J Lucas Mr M McLoughlin Mrs C Newman Mrs L Parish Mrs E Yarwood (Chair) Mrs T Harrison (appointed 30[th] April 2025) Secretary Mrs A Holmes Registered office and principal address 20a Millstone Lane Leicester LE1 5JN Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling, Kent ME19 4JQ Administrators Charity Link 20a Millstone Lane Leicester LE1 5JN Investment Managers Charles Stanley Ltd 4[th] Floor, Mercury Place St George Street Leicester LE1 1QG Independent Examiner A M West Somerbys Ltd 30 Nelson Street Leicester LE1 7BA
**H A TAYLOR FUND**
**1**
## **ANNUAL REPORT YEAR ENDED 7 MAY 2025**
## **_____________________________________________________________________________**
The Trustees present their report and accounts for the year ended 7[th ] May 2025 This 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[th] November 1984.
## **Trustees**
Details of the Trustees who have served during the year and since the year-end can be found on page 1.
## **Appointment of Trustees**
The Trust Deed provides for eleven Trustees of whom seven are co-optative 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 Trustees. A copy of the Charity Scheme and any amendment to it and a copy of the Fund’s latest annual report and accounts are provided to any new Trustee.
## **Public Benefit**
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Fund’s aims and objectives and in planning future activities.
## **Administration 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 meetings and one special meeting. All meetings were conducted in person.
## **Risk Management**
The Trustees continue to assess 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 performance. Investment Managers are appointed and report to the Trustees regularly.
## **Achievements and Performance**
The Trustees continued to provide assistance to people living 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 during the year was £20,730 which compared with £18,600 during the previous year.
## **Investments**
The Trustees have wide powers to invest money in the purchase of stocks, shares, funds, securities or other investments at their absolute discretion. The investments are reviewed in conjunction with the stockbrokers on a regular basis. At the year-end, the market value of the portfolio was £675,940, excluding un-invested cash, compared with £678,749 a year earlier.
**H A TAYLOR FUND**
**2**
## **ANNUAL REPORT YEAR ENDED 7 MAY 2025**
**_____________________________________________________________________________**
## **Financial Review**
The statement of financial activities on page 4 shows net outgoing resources for the year of £10,046 compared with outgoing resources £7,998 for the previous year. Income increased from £27,383 in the prior year to £27,854. Total resources expended increased from £35,381 to £37,900. There was a deficit during the year on the endowment (capital) fund of £3,282 comprising realised and unrealised gains on investments less investment management fees. At the end of the year, the endowment fund stood at £689,113 represented by listed investments at market value and a small amount of un-invested cash. Unrestricted funds, meanwhile, totalled £31,671 comprising the balance of net current assets.
## **Reserves Policy**
It is the policy of the Trustees to maintain unrestricted funds, which include the free reserves of the Fund, at a 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-end 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 requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Fund and of the incoming resources and application of resources for the Fund for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities’ SORP;
- Make judgements and estimates 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 concern basis unless it is inappropriate to presume that the Fund will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Fund and enable them to ensure that the financial statements comply with applicable 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 professional advisers for their help and advice throughout the year.
On behalf of the board of Trustees
**E Yarwood** Chairperson 14[th] January 2026
**H A TAYLOR FUND**
**3**
## **INDEPENDENT EXAMINERS REPORT YEAR ENDED 7 MAY 2025**
**_____________________________________________________________________________**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 7 May 2025 which are set out on pages 4 to 12.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner'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:
1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2 the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Alex M West FCA
Somerbys Limited Chartered Accountants 30 Nelson Street Leicester LE1 7BA
**4**
## **H A TAYLOR FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 7TH MAY 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Investments
Bank interest
Donations and legacies
**Total income**
**EXPENDITURE ON:**
**Cost of generating funds:**
Investment management fees
**Charitable activities:**
Grants in furtherance of the objects
3
Support costs
4
**Total expenditure**
**Net income/(expenditure) before**
**investment gains/(losses):**
Transfers between funds
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward at 8th May 2024
**Total funds carried forward at 7th May 2025**|**Unrestricted**
**Endowment**
**Total Funds**
**Total Funds**
**Fund**
**Fund**
**2025**
**2024**
**£**
**£**
**£**
**£**
26,264
-
26,264
26,024
1,590
-
1,590
1,359
-
-
-
-
27,854
-
27,854
27,383
-
5,909
5,909
5,623
20,730
-
20,730
18,600
11,261
-
11,261
11,158
31,991
5,909
37,900
35,381
(4,137)
(5,909)
(10,046)
(7,998)
-
-
-
-
-
2,627
2,627
38,785
(4,137)
(3,282)
(7,419)
30,787
35,808
692,395
728,203
697,416
31,671
689,113
720,784
728,203|
|---|---|
**5**
## **H A TAYLOR FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 7TH MAY 2025**
|**Previous financial year**
**Notes**
**INCOME AND ENDOWMENTS FROM:**
Investments
Bank interest
Donations and legacies
**Total income**
**EXPENDITURE ON:**
**Cost of generating funds:**
Investment management fees
**Charitable activities:**
Grants in furtherance of the objects
3
Support costs
4
**Total expenditure**
**Net income/(expenditure) before**
**investment gains/(losses):**
Transfers between funds
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward at 8th May 2023
**Total funds carried forward at 7th May 2024**|**Unrestricted**
**Endowment**
**Total Funds**
**Fund**
**Fund**
**2024**
**£**
**£**
**£**
26,024
-
26,024
1,359
-
1,359
-
-
-
27,383
-
27,383
-
5,623
5,623
18,600
-
18,600
11,158
-
11,158
29,758
5,623
35,381
(2,375)
(5,623)
(7,998)
-
-
-
-
38,785
38,785
(2,375)
33,162
30,787
38,183
659,233
697,416
35,808
692,395
728,203|
|---|---|
**H A TAYLOR FUND**
**6**
## **BALANCE SHEET AS AT 7TH MAY 2025**
**----- Start of picture text -----**
Total Funds Total Funds
Notes 2025 2024
£ £
FIXED ASSETS:
Investments 5 675,940 678,749
CURRENT ASSETS:
Cash at bank and in hand 6 53,757 53,239
Debtors and prepayments 7 1,762 1,534
55,519 54,773
CURRENT LIABILITIES:
Creditors: amounts falling due within one year 8 10,675 5,319
NET CURRENT ASSETS (LIABILITIES) 44,844 49,454
TOTAL NET ASSETS 720,784 728,203
FUNDS: 9
Endowment - capital fund 689,113 692,395
Unrestricted fund 31,671 35,808
TOTAL CHARITY FUNDS 720,784 728,203
**----- End of picture text -----**
Approved by the Trustees on 14th January 2026 and signed on their behalf by
Elaine Yarwood, Chairperson
**H A TAYLOR FUND NOTES TO THE ACCOUNTS YEAR ENDED 7TH MAY 2025**
**7**
## **1. BASIS OF PREPARATION**
## **1.1 Basis of accounting**
These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements are presented in sterling, which is the functional currency of the charity.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity has applied Updated Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The charity constitutes a public benefit entity as defined by FRS 102.
## **1.2 Going concern**
The financial statements are prepared on a going concern basis.
## **1.3 Accounting policies**
The significant accounting policies applied in the preparation of these financial statements are set out in Note 2 below. These policies have been consistently applied to all years presented unless otherwise stated.
## **1.4 Changes to accounting estimates**
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
## **1.5 Material prior years errors**
No material prior year errors have been identified in the reporting period (3.47 FRS 102 SORP).
## **2. ACCOUNTING POLICIES**
## **2.1 Income**
## **Recognition of income**
Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources, and the monetary value can be measured with sufficient reliability.
## **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
## **Income from interest, investments and dividends**
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
**H A TAYLOR FUND NOTES TO THE ACCOUNTS YEAR ENDED 7TH MAY 2025**
**8**
## **Investment gains and losses**
The investment gains and losses shown on the SoFA include any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Realised gains and losses are included in the accounts on the date at which a contractual obligation is entered into.
Unrealised gains and losses are calculated by reference to the market value of the investments at the balance sheet date, compared to the brought forward cost or valuation. Gains and losses arising on similar categories of investments are netted off.
## **Grants and donations**
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
## **2.2 Expenditure and liabilities**
## **Liability recognition**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## **Governance and support costs**
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its compliance with statutory regulation, constitutional requirements and good practice, such as trustee meetings, accounts and legal advice.
Support costs are those that assist the work of the charity but do not represent direct charitable acitivity. They include central functions such as office costs, organisation and administration, and management of the charity's assets. They are incurred directly in support of expenditure on the objects of the charity. Where possible, support costs are allocated to activity cost categories on a basis consistent with the use of resources.
## **Creditors**
The charity has creditors, which are measured at settlement amounts less any trade discounts.
## **Grants payable**
Grants payable to third parties are within the charitable objectives. Grants are recognised as soon as the grant has been approved by the trustees, an amount for expenditure on the grant has been agreed by the trustees (subject to any measures or conditions) and there is reasonable expectation that the grant will be paid.
## **Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
## **Taxation**
As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. VAT is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
## **Basic financial instruments**
The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.
**H A TAYLOR FUND NOTES TO THE ACCOUNTS YEAR ENDED 7TH MAY 2025**
**9**
## **2.3 Assets**
## **Investments**
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
## **Current asset investments**
The charity has has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due. They are valued at fair value except where they qualify as basic financial instruments.
## **Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
**H A TAYLOR FUND NOTES TO THE ACCOUNTS YEAR ENDED 7TH MAY 2025**
**10**
## **3. GRANTS PAID/PAYABLE**
The charity makes occasional grants to institutions, as permitted by its governing document. The purpose of all such grants is to support projects, services and activities that fall within the charitable objects and area of benefit of the charity.
|Grants to institutions:
Syston & District Age Concern|**2025**
**£**
5,000||**2024**
**£**
8,500|
|---|---|---|---|
||5,000||8,500|
|No.
Grants to individuals
20|**£**
15,730|No.
16|**£**
10,100|
||15,730||10,100|
|||||
|Total grants paid/payable|20,730||18,600|
|**4. SUPPORT COSTS**
Governance and support costs:
Administration fees
Audit and accountancy fees
Office costs, banking charges and other expenses||**2025**
**£**
7,674
2,543
1,044|**2024**
**£**
8,279
2,441
438|
|||11,261|11,158|
|**5. FIXED ASSET INVESTMENTS**
**Investments at market value**
At 8th May 2024
Additions
Disposals
Unrealised gains/(losses)||**2025**
**£**
678,749
37,517
(43,701)
3,375|**2024**
**£**
644,181
29,237
(33,955)
39,286|
|**At 7th May 2025**||675,940|678,749|
|**6. CASH AT BANK AND IN HAND**
CAF Bank (current account)
COIF Charities Deposit Fund
Cambridge & Counties Bank (savings account)
Cambridge & Counties Bank (2 yr fixed rate bond)
Charles Stanley Ltd (income accounts)||**2025**
**£**
6,594
-
18,606
18,297
1,649|**2024**
**£**
6,999
-
17,810
17,969
1,799|
|||45,146|44,577|
|**Endowment funds held as cash at the year-end**
COIF Charities Deposit Fund
Charles Stanley Ltd (capital account)||8,320
291|7,898
764|
|||8,611|8,662|
|**Total cash at bank and in hand**||53,757|53,239|
**H A TAYLOR FUND NOTES TO THE ACCOUNTS YEAR ENDED 7TH MAY 2025**
**11**
**----- Start of picture text -----**
7. DEBTORS 2025 2024
£ £
Debtors - -
Prepayments 1,762 1,534
1,762 1,534
8. CREDITORS 2025 2024
£ £
Accruals for grants payable - -
Trade creditors 10,675 5,319
10,675 5,319
9. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Total Unrestricted Endowment
The constitution of the funds at 7th May 2025 was as follows: 2025 funds funds Total 2024
£ £ £ £
Fixed asset investments 675,940 - 675,940 678,749
Current assets 55,519 42,346 13,173 54,773
Current liabilities (10,675) (10,675) - (5,319)
At 7th May 2025 720,784 31,671 689,113 728,203
**----- End of picture text -----**
**Endowment fund -** This is the permanent endowment of the charity. It is the income generated from the investment of this endowment that provides the charity with its main source of expendable income. The endowment fund is also expendable at the discretion of the trustees.
**Unrestricted fund -** These are the unrestricted (free) reserves of the charity available for expenditure on the charity's objects and for general administration. The Unrestricted Fund comprises income received that has not yet been expended.
**Restricted funds** - The charity held no restricted funds (funds held for a specified purpose) during the reporting period or during the prior period. Restricted funds have therefore been omitted from the financial statements.
## **10. TRUSTEES' REMUNERATION**
The trustees neither received nor waived amy emoluments during the year (2024: £nil). None were reimbursed any out of pocket travel expenses (2024: £nil).
## **11. RELATED PARTY DISCLOSURES**
The Trustees hold their regular meetings at Syston Community Centre, which is managed by the Syston Town Council. Trustee John Lucas is also a member of the Council.
|Related party transactions during the year can be summarised as follows:||
|---|---|
|Syston Town Council
Room Hire Costs|£51|
**H A TAYLOR FUND NOTES TO THE ACCOUNTS YEAR ENDED 7TH MAY 2025**
**12**
## **INVESTMENT SCHEDULE**
|**No. of**
**As at 7th May 2025**
**units**
Aberdeen Standard - UK Equity High Inc
7,075.00
Henderson Investment Funds - Strategic Bond
32,434.43
JP Morgan - US Equity Income
33,784.00
Royal London - Extra Yield Bond
27,000.00
Lion Trust Fund Partners - Monthly Income Bond
34,250.00
3i Infrastructure Ord NPV
10,821.00
GCP Infrastructure Investments Ltd
33,500.00
J O Hambro Capital Management - UK Equity Inc
40,000.00
Patria Private Equity Trust PLC (Standard Life)
7,000.00
Premier Miton UK Multi Cap Inc
10,000.00
Artemis Fund Managers Income
10,400.00
Polar Capital Funds - Global Technology
400.00
Guinness Asian Equity Income
2,750.00
JLEN Environmental Assets Group Ord Npv
22,100.00
Mercantile Investment Trust PLC Ord
8,300.00
Primary Health Properties PLC
23,000.00
Murray Income Trust
2,798.00
Biotech Growth Trust
1,200.00
Blackrock Continental European Income
25,175.00
Blackrock North American Income
10,000.00
I-Shares V PLC S&P 500 Hedged Ucits ETF
264.00
Ashoka India Equity Investment Trust PLC
4,560.00
Mobius Investment Trust Plc
11,000.00
United Kingdom 3.5% BDS 22/10/25
13,950.00
United Kingdom 3.5% BDS 22/01/44
31,825.00
Biotech Growth Trust
1,600.00|**Market**
**Market**
**Book cost**
**value 2025**
**value 2024**
**£**
**£**
**£**
24,190
29,664
32,813
39,710
32,246
31,984
13,247
52,838
54,021
24,613
26,258
25,610
-
-
28,212
24,751
35,709
36,683
41,575
24,757
25,125
53,485
57,520
55,120
22,886
40,250
39,690
19,944
18,460
18,000
24,715
31,328
28,791
13,643
32,996
33,167
30,299
30,602
30,050
26,252
17,017
19,801
19,872
20,335
19,505
35,682
23,667
22,161
29,851
23,783
24,734
-
-
12,240
41,212
51,635
49,367
15,096
19,275
20,200
19,555
33,779
31,004
9,249
12,183
12,183
15,512
13,723
14,575
13,737
13,914
13,713
26,861
24,785
10,397
9,216
596,334
675,940
678,749|
|---|---|