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2025-03-31-accounts

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

Charity No. 526206

The Harris Charity

Financial Statements

For The Period Ended

31 March 2025

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

CONTENTS

Page
Charity Details 1
Trustees report 2
Independent examiner’s report 5
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 8

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

CHARITY DETAILS

Trustees: E J Booth CBE DL LLD - (Chairman)
P R Metcalf MBE FCA DChA - (Vice Chairman)
Dr A W Andrews
Mrs J Coulston–Herrmann BA Hons M.Ed JP
Mrs J M Dodd (Appointed 23 May 2024)
Mrs N M Fielden
Rev P Hamborg
S W J Huck LLB
Mrs S J McCluskie (Appointed 30 November 2023)
K G Mellalieu
T J Scott FCSI
Honorary Vice President W S Huck
Secretary D M Ingram FCA
Registered Address Richard House
9 Winckley Square
Preston
PR1 3HP
Charity Number 526206
Independent Examiner A Mills FCA MAAT
Chartered Accountant
James Todd & Co (NW) Ltd
Greenbank House
141 Adelphi Street
Preston
PR1 7BH
Investment Advisers Brown Shipley
U K Authorised Private Bank
3 Hardman Street
Spinningfields
Manchester
M3 3HF
Endowment Fund Incorporates Permanent Endowments from
the following charities:
Jacson Memorial Fund
Jacson Special Bequest
Victor Gatty Prize Fund
Rogerson Scholarship Trust
Lancashire Council for Voluntary Youth Service

Page 1

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

TRUSTEES’ REPORT

FOR THE PERIOD ENDED 31 MARCH 2025

The Trustees present their report and financial statements of the charity for the period ended 31 March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

The year end of the charity has been changed from 5 April 2025 to 31 March 2025.

Constitution, objectives and activities for the public benefit

The charity, which was originally known as “The Harris Orphanage” regulated by a scheme of the High Court of Justice of 23 January 1883, was re-organised in 1985 following the disposal of the Harris Orphanage premises in Garstang Road, Preston, to the Lancashire Polytechnic (now renamed University of Central Lancashire).

The proceeds of sale together with previously held investments have resulted in a substantial endowment which has been invested for the future benefit of young people under the age of twenty-five years resident in the County of Lancashire, with preference given to persons living in the City of Preston (formerly the Borough of Preston).

The Harris Charity is a registered charity governed by a scheme of arrangement dated 8 August 1985 approved by the Charity Commissioners. The Trustees’ powers of investment are determined by the Trustee Act 2000.

Financial assistance is given to relieve hardship or distress, for promoting training and education and to assist in the provision of facilities for recreation and leisure activities.

The trustees generally meet on a quarterly basis to address the business of the charity. The secretary handles the day to day running of the charity from the registered office.

Trustees and appointment of new trustees

The trustees who have served during the period and since the period end are set out on page 1 and are appointed in accordance with the trust scheme.

Trustees are appointed for five years by resolution of the body of trustees passed at a special meeting of which not less than twenty-one days’ notice has been given. The trustees look to appoint new trustees with expertise and knowledge and who have an involvement with the care of children and activities for which grants are sought. Any Trustee who is absent from all meetings of the trustees during a period of two consecutive years is considered to have determined their trusteeship.

The trustee, Mr S W J Huck was re-elected during the year.

Investment policy

An Investment Sub-Committee meets quarterly to review the investment portfolio of the charity and to discuss any proposals made by the investment advisers, Brown Shipley.

The trustees agree with the investment adviser that a realistic income target in the present circumstances is £100,000 per annum rather than the £120,000 figure that has been previously requested with an anticipation that the new income target will not be achieved in the short term as dividends continue to recover. The trustees continue to take a long term view on the investment portfolio and will keep the target figure under review as market conditions change.

Page 2

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

TRUSTEES’ REPORT (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2025

Investment policy (continued)

The current Brown Shipley mandate in measuring investment performance is ‘Growth’ using the MSCI PIMFA Private Investor Growth Index as a benchmark. Investments are avoided where their products are harmful to children and young people who the charity serves. The policy is to generate income for the making of grants whilst maintaining capital growth to protect the value of the investments in real terms.

Grant-making policy

The charity invites applications from individuals under the age of 25 years and organisations which support persons under the age of 25 years, twice yearly in March and September. Applicants are invited to submit a summary of their proposals on a specific form. Each application is perused and grants are awarded at the trustees discretion. Each applicant is informed as to whether or not a grant has been awarded and if successful is asked to provide the Trustees with the relevant documents/invoices in order that funds may be released.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting the grantmaking policy for the year. Financial assistance is given to relieve hardship or distress, for promoting training and education and to assist in the provision of facilities for recreation and leisure activities for those under the age of twenty five years resident in the county of Lancashire, with preference given to persons living in the city of Preston. An analysis of the assistance provided is shown in note 5.

Review of activities – achievements and performance

During the period 31 grants awards (2024:32) have been made by the charity totalling £116,022 (2024:£107,553). Grants amounting to £262,837 (2024:£224,322) had been approved but not paid at the year end.

The Harris Charity continues to explore ways to provide help to young people in the Lancashire area who are living in challenged circumstances. It works closely with two local charities, Preston Relief in Need and Guild Initiative for Furniture Trust (Gift 92) in supporting young people and families setting up home.

The trustees have identified and reviewed the risks to which the charity is exposed, and have introduced appropriate controls to manage these risks, and to provide reasonable assurance against error and fraud.

Financial review

The charity’s income during the period amounted to £145,406 (2024:£121,150).

Total resources expended during the period amounted to £161,271 (2024:£138,112). Grants payable during the period totalled £109,502 (2024: £89,863). The overall result was an increase in the value of the unrestricted fund of £29,549 (2024:increase of £24,052) to £418,999 (2024:£389,450) at 31 March 2025 after adding (2024:deducting) the unrealised gain of £18,777 (2024:gain of £16,123) on investments and current asset investments held.

During the period the value of the endowment fund increased by £34,562 (2024:increase of £376,661) to £4,419,114 (2024:£4,384,552) at 31 March 2025. This occurred as a result of gains of £61,199 (2024: gains of £401,552) and after deducting investment management costs of £26,637 (2024:£24,891).

Page 3

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

TRUSTEES’ REPORT (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2025

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level that provides sufficient funds to cover grants payable and administration costs and to respond to emergency applications for grants which arise from time to time. The endowment fund is invested in order to generate the income necessary to provide for the grants that are awarded.

The trustees confirm that the free reserves of the charity at the period end were £418,999 (2024: £389,450).

This report was approved by the Trustees on and signed on its behalf: October 30, 2025

E J Booth CBE DL LLD

Chairman of the Board of Trustees

Page 4

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

INDEPENDENT EXAMINER’S REPORT TO THE

TRUSTEES OF THE HARRIS CHARITY

I report to the trustees on my examination of the accounts of The Harris Charity for the period ended 31 March 2025 set out on pages 6 to 15.

Responsibilities and basis of report

As the charity trustees of The Harris Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 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 2011 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:

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.

A Mills FCA MAAT Chartered Accountant

James Todd & Co (NW) Ltd Greenbank House 141 Adelphi Street Preston PR1 7BH

Dated: November 5, 2025

Page 5

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD ENDED 31 MARCH 2025

Note
Donations and legacies
2
Investments
3
Total incoming resources
Expenditure on:
Raising funds
4
Charitable activities
5
Total expenditure
Gains/(losses) on investments
6
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Income and endowments from:
Net income/(expenditure) before
gains/(losses) on investments		 Unrestricted
funds
£
-
145,406		 Endowment
funds
£
-
-		 Total
2025
£
-
145,406		 Total
2024
£
1,031
120,119
145,406 - 145,406 121,150
-
134,634		 26,637
-		 26,637
134,634		 24,891
113,221
134,634 26,637 161,271 138,112
10,772
18,777		 (26,637)
61,199		 (15,865)
79,976		 (16,962)
417,675
29,549
389,450		 34,562
4,384,552		 64,111
4,774,002		 400,713
4,373,289
418,999 4,419,114 4,838,113 4,774,002

Page 6

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

BALANCE SHEET

AS AT 31 MARCH 2025

Unrestricted
funds
Note
£
Investments
6
-
Total fixed assets
-
Current assets
Debtors
7
21,209
Investments
8
394,825
Cash at bank and in hand
277,896
Total current assets
693,930
Liabilities
Creditors:amounts falling due within one year
9
(274,931)
Net current assets
418,999
Net assets
418,999
Charity Funds
General fund
418,999
Endowment funds
-
Total charity funds
10,11
418,999
Fixed assets
Unrestricted funds:		 Unrestricted
funds
£
-		 Endowment
funds
£
4,387,302		 Total
Total
2025
2024
£
£
4,387,302
4,343,289
4,387,302
4,343,289
21,209
18,627
394,825
433,820
309,708
222,831
725,742
675,278
(274,931)
(244,565)
450,811
430,713
4,838,113
4,774,002
418,999
389,450
4,419,114
4,384,552
4,838,113
4,774,002
-
21,209
394,825
277,896		 4,387,302
-
-
31,812
693,930
(274,931)		 31,812
-
418,999 31,812
418,999 4,419,114
418,999
-		 -
4,419,114
4,419,114

Approved by the Board of Trustees on and signed on its behalf by: October 30, 2025

E J Booth CBE DL LLD – Chairman of Trustees

P R Metcalf MBE FCA DChA – Vice Chairman

D M Ingram FCA - Secretary

The notes on pages 8 to 15 form part of these financial statements.

Page 7

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 MARCH 2025

1 Accounting policies

Basis of preparation

The Harris Charity is a charity registered in England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out on page 2 of the trustees report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £000.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainty exists that casts doubt on the charity’s’ ability to continue to operate. The trustees have considered the level of funds held and the expected level of income and expenditure for the twelve months from the date of the authorising of these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Income recognition

All income is recognised once the charity has entitlement to receipt and it is probable that the income will be received and the amount of income receivable can be measured reliably. All income is included in the Statement of Financial Activities.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds then the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Investment income is recognised in the period in which the charity is entitled to receipt.

Page 8

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2025

1 Accounting policies (continued)

Expenditure recognition

All expenditure is accounted for on an accruals basis and has been allocated to the fund to which it relates. Expenditure is recognised where there is a legal or constructive obligation to make payment, it is probable that settlement will be required and the amount of the obligation can be measured reliably. The charity is not registered for VAT, consequently, input VAT incurred is charged against the expenditure heading to which it relates.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Allocation of support and governance costs

Support costs are those costs incurred that assist the work of the charity but do not directly represent charitable activities. They are in sustained support of expenditure on the objects of the charity.

Governance costs are those costs relating to the public accountability of the charity and its compliance with regulations and good charity practices. The trustees have decided that all such costs be met from unrestricted funds.

Investments

Investments are initially recognised at their transaction value and subsequently measured at their fair value at the balance sheet date using the closing quoted mid market price as quoted on the London Stock Exchange and, in the case of foreign investments, on their respective stock exchanges.

Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between cost, if acquired during the year, their fair value at the previous year end and their fair value at the current year end.

Unrestricted fund

The unrestricted fund is a fund which is available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which has not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The charity currently has no designated funds.

Endowment fund

The endowment fund is a fund representing those assets which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.

Page 9

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Donations and legacies – unrestricted

Donations
Investment - unrestricted
Investment dividends and interest
Bank interest
Raising funds -
Investment management costs		 2025
2024
£
£
-
1,031
-
1,031
2025
2024
£
£
144,677
116,927
729
3,192
145,406
120,119
2025
2024
£
£
26,637
24,891
26,637
24,891

.

£26,637 (2024: £24,891) of expenditure is allocated to the endowment fund and £Nil (2024: £Nil) to unrestricted.

Page 10

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2025

Charitable activities

Charitable activities
2025 2024
£ £
Grants expenditure:
Grants (see note 5b) 109,502 89,863
109,502 89,863
Grant related support costs:
Secretarial fees 16,269 14,573
Information commissioner's charges 35 35
Trustee insurance 3,048 3,048
Accountancy fees - governance 2,800 2,850
Independent examiners fees - governance 2,920 2,796
Bank charges 60 56
134,634 113,221
£Nil (2024: £Nil) of expenditure is allocated to the endowment fund, the rest is unrestricted.
Note 5b 2025 2024
£ £
Balance payable brought forward 224,322 209,262
Previously awarded grants released (6,520) (17,670)
New grants awarded in the year 116,022 107,533
Net grant cost in the year (note 5c) 109,502 89,863
333,824 299,125
Grants paid in the year (70,987) (74,803)
Balance payable carried forward (note 9) 262,837 224,322

Page 11

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

5 Charitable activities (continued)

Note 5c
Charitable organisations
Educational
Recreational – scouts, youth clubs etc
Recreational – sports, playgroups etc
Individuals
Previously awarded grants released
Institutional
Fixed asset investments
Market value at 5 April 2024
Additions
Disposal proceeds
Net investment (losses)/gains
Market value at 31 March 2025
Historical cost at 31 March 2025
Investments at fair value comprised:
Equities
Bonds and gilts
Hedge and structured funds
Property funds		 Preston
Lancashire
Area
Area
£
£
4,500
14,500
-
695
-
33,575
57,835
897
4,020
(647)
(5,873)		 31 March
5 April
2025
2024
£
£
19,000
8,229
695
3,900
-
5,000
91,410
87,018
4,917
3,386
(6,520)
(17,670)
109,502
89,863
2025
2024
£
£
4,343,289
3,930,976
384,226
426,809
(401,412)
(416,048)
61,199
401,552
4,387,302
4,343,289
3,773,459
4,057,783
2025
2024
£
£
3,827,829
3,556,145
385,329
601,422
63,945
69,426
110,199
116,296
4,387,302
4,343,289
38,325
71,177

Page 12

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Debtors

Debtors
Accrued Income
Loans		 2025
2024
£
£
10,584
5,602
10,625
13,025
21,209
18,627

The loans are interest free and will be repaid or reviewed before the 25[th] birthday of the recipient

Current asset investments

Market value at 5 April 2024
Additions
Disposal proceeds
Net investment (losses)/gains
Market value at 31 March 2025
Historical cost at 31 March 2025
Investments at fair value comprised:
Cash funds		 2025
2024
£
£
433,820
239,722
100,425
177,975
(158,197)
-
18,777
16,123
394,825
433,820
380,230
250,000
2025
2024
£
£
394,825
433,820
394,825
433,820

Creditors – amounts falling due within one year

Creditors and accrued charges
Grants payable (note 5b)		 2025
2024
£
£
12,094
20,243
262,837
224,322
274,931
244,565

Page 13

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025

Analysis of charitable funds

The unrestricted fund is available for use at the direction of the trustees in furtherance of the general objectives of the charity and which has not been designated for other purposes.

The investment fund is established from previously owned investments together with the proceeds from the disposal of the Harris Orphanage premises in 1985. The fund is kept as a permanent endowment with investments being held for their capital appreciation and also to generate revenue for the unrestricted fund.

Balance
at 6 April
2024
Income
Expenditure
£
£
£
Unrestricted
funds:
389,450
145,406
(134,634)
Endowment
funds:
4,384,552
-
(26,637)
4,774,002
145,406
(161,271)
Analysis of charitiable funds - previous year
Balance
at 6 April
2023
Income
Expenditure
£
£
£
Unrestricted
funds:
365,398
121,150
(113,221)
Endowment
funds:
4,007,891
-
(24,891)
4,373,289
121,150
(138,112)		 Balance
at 6 April
2024
£

389,450
4,384,552		 Income
£
145,406
-		 Expenditure
£
(134,634)
(26,637)		 Transfers
£
-
-		 Balance
Gains and
at 31 March
losses
2025
£
£
18,777
418,999
61,199
4,419,114
79,976
4,838,113
Balance
Gains and
at 5 April
losses
2024
£
£
16,123
389,450
401,552
4,384,552
417,675
4,774,002
4,774,002 145,406 (161,271) -
Transfers
£
-
-
121,150 (138,112) -
4,373,289

Page 14

Docusign Envelope ID: BD3E04A8-7110-4763-9134-BA9723C9B49B

THE HARRIS CHARITY

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2025

Analysis of net assets between funds – previous year

Investments
Current assets
Creditors falling due within one year
Fund balances at 5 April 2024 are
represented by:		 At
Unrestricted Endowment
5 April
funds
funds
2024
£
£
£
-
4,343,289
4,343,289
634,015
41,263
675,278
(244,565)
(244,565)
389,450
4,384,552
4,774,002

Related party transactions

Mr P R Metcalf is a trustee of the charities, Preston Relief in Need and the Guild Initiative for Furniture Trust (Gift92), with whom The Harris Charity works closely with, both charities supporting persons under the age of 25 years. Grants awarded to Preston Relief in Need during the year were £nil (2024: £nil) and Gift 92 £nil (2024: £nil) for appliances supplied by them to applicants who were grant aided by the Harris Charity.

Trustees' remuneration and expenses

The trustees neither received nor waived any remuneration during the period (2024: £nil).

The trustees did not have any expenses reimbursed during the period (2024: £nil).

Page 15