DUTON MOORE Chartered Accountant5 & Business Advisers HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AND GENERAL ORPHANAGE) FINAfqcIAL STATEMENTS FOR THE YEAR ENDED 31" MARCH, 2024 Registered Charity No: 529804 Aldgate House 1-4 Markel Place Hull HUI IRS T. 01482 326617 F. 01482 329863 E. enquiries@duttonmoore.co.uk
HESSLEWOOD CHILDREN'S TRUST (HULL SEAlN's AND GENERAL ORPHANAGE) cOrENTs Report of the Management Committee Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Charitabl¢ Payments
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEIY'S AND GEIYERAL ORPHANAGE) REPORT OF THE MANAGEMENT COMMrrrEE FOR THE YEAR ENDED 31. MARCH, 2024 Trustees Prof P Draper Mrs T. Caley Mrs G. Munn Mrs D. Lidgett Mr D. Turner Capt. P. Watts Mrs D. Knox Mrs P. Glover Dr D.J. Bowes Revd G. Turner Ms L. Davis Dr C. Woodyatt (Chairnian) (Hon. Treasur¢r) (Died I I" June 2023) Executive Committee Prof P Draper Mrs T. Caley (Chairnian) (Hon. Treasurer) Objectives and Activities In accordance with th¢ Charity's schemes dated 20 May. 1986 and I l April, 2017, the funds may be applied for the lIef of those in nced and for the promotion of education. Beneficiaries of th¢ Sch¢m¢ shall be pcrsons in need. hardship or distress who are ¢ith¢r: (i) under the age of 25 and sIdent, or have parent(s) resident in eithcr the fornier county of Humberside or in the district of Gainsborough or Caistor in Lincolnshire or are fomier residents of the Hull Seamen's and General Orphanage. Preference shall be given to beneficiaries who are the children of seamen. {ii) In fijrtherance of the aims and objectives the trustees may pay for such items, services or facilities by way of donations or subscriptions to institutions or organisations which provide or which undertake in return to provide such items, services or facilities. The Trustees consider that the risks to which the Charity is exposcd are not of material significance. Public Benefit The Trust¢¢s confirni that they have carried out their duties under the Charities Acts. The Trustees apply the income to a wide range of charitable purposes. Achievements and Perforniance During the year the trnstees have made donations totalltng £92,137 (2023 £102.01 l ) to various charitable causes. They believe that the amounts distributed have been of great benefit to the charities chosen in their work in the wider comtnunity and to the individuals in necd of relief or education. Financial Position and Future Activities The financial positton of the Charity is a strong one with net asscts at 31 March, 2024 amounting to £3,594,161 (2023 £3,412,063). Total income during the year amounted to £1 10.111 (2023 £94.806). of which £37,453 (2023 £37,900) was applied to management expenses of the Charity leaving a balance of £72,658 (2023 - £56,906).
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AIID GENERAL ORPHANAGE) REPORT OF THE MANAGEMENf COMMrrrEE FOR THE YEAR ENDED 31°, MARCH, 2024 (coiYfINUED) Financial Position and Future Activities (continued) The result for the year is increased by the realis¢d gains on sales of investments £142,472 (2023 - Loss £8,057) and increased by the unTealiscd gains in the value of invesiments of £59.105 (2023 - Loss £194.405). The Charity intends to continue implementing its aims and objectives as set down by the governing document for the forthcoming year. Trustees, responsibilities in relation to the financial statements The charity trustees are responsible for preparing a trustees" report and financial statements in accordance with applicable law and Unitcd Kingdom Accounting Standards (United Kingdom Generally Acceptcd Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial ststements for each year which give a true and fair view of the stste of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the applicable 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 charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial wsition of the charity and to enable them lo ensure that the financial statements comply with th¢ Charilics Aci 2011, the applicable Charities (Accounts and Reports) R¢gulations, and th¢ provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonabl¢ st¢ps for the prevention and detection of fraud and other itT¢gulariti¢s. Appointment and Training of Trnstees New trustees are appointed on the recomtnendation of an existing trustee and with the approval of the trustees, meeting. All n¢c¢ssary training and guidance is given by the exutiVe committee and the other truste¢s. The trustees ar¢ not subject to periodic retirement or r¢-¢lection. Board of Management Trnstees At the Annual General Meeting a Board of Trustees shall be elected. Additional or alternative appointments may be madc at an Extraordinary General Mccting. It shall consist of not less than five members one of whom shall be the Vicar of Hessle for the time being and one shall bc a representative of Trinity House Hull. The Board shall have the power to CO- opt mcmbers. It shall tneet at least twice per year (nornlally March and October). Additional meetings tnay be held. if needed.
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AkND GENERAL ORPHANAGE) REPORT OF THE MANAGEMEiYf COMMITfEE FOR THE YEAR ENDED 31" MARCH, 2024 (CONTINUED) Policies The Trustees regard the whole of the income as available to meet the objects of the trust. There is no intention to build up reserves. In this connection, profits (and 1055es) on the sale of investments are not regarded as income, howevcr: although the Charity'5 governing documents allow both the income from investments and the investmcnts th¢mselves to be applied for the aims of the trust, nonetheless thc trustees consider the investment portfolio to b¢ held in the nature of a singl¢ p¢rnianent endowment. The investments are actively managed on the advice of stockbrokers with a view to preserving the real value of the lunds whilst at the same tivne maintaining the income available for charitable purposes. All donations to be mad¢ are approved at the regular meetings of the trustees. Charity Registration The organisation is registered as an unincorporated Charity - No. 529804, was fornied on 20 May, 1986 and is governed by a Charity Commission Scheme of that date. as revised by a further Charity Commission Scheme effective from I l April, 2017. Administration The day to day administration and long terni planning of the organisation is the responsibility of the principal officers and executive Commitlee. Trustees The trustees are listed on pag¢ l of these accounts. Secretary Correspondence Address and Principal Office Mrs L. Bullock, 62 The Meadows. Cherry Burton, East Yorkshire, HUI 7 7SD Stockbrokers Barclays Wealth Management Bankers Barclays Bank PIC Solicitors Graham & Rosen, 8 Parliament StreeL Hull, HU12BB Independent Examiner A.R. Bullock Esq. Dutton Moore, Chartered Accountants, Aldgate House, l 4 Market Place, Hull, FIUI IRS Signed for and on behalf of the trustees Prof P Draper - Chairn)an Hull: 7" NovcEnber, 2024
REPORT OF THE INDEPENDENT EXAMtNER TO THE TRUSTEES OF li li HESSLEWOOD CHtLDREN'S TRUST (HULL SEAlEN's AND GENERAL ORPHANAGE) ON THE AccouNfs FOR THE YEAR ENDED 31" MARCH. 2024 CHARITY NUMBER 529804 I report on the accounts of the charity for the year ended 31. March. 2024 which arc set out on pages 5 to 9. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The ChIty'S trustees consider that an audit is not required for this year under the Charities Act 2011 ('fthe Charities Act") and that an independent examination is needed. It is my responsibility to: examine the accounts under the Charities Act. to follow the procedures laid down in the General Directions given by the Charity Commission" and to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 thc accounts, and the seeking of explanations from the trustees concerning any such matters. The procedures undertak¢n do not provide all th¢ cvidcnce that would be required in an audit and, ¢onswucntly no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matter set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that. in any material respecL the requirements: to keep accounting records in accordance with the Chariti¢s Act" and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of th¢ Charities Act have not been met. 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. A.R. Bullock FCA Indep¢nd¢nt Examiner Dutton Moore Aldgatc House 1-4 Markct Place Hull HUI IRS Dated.. 7 November. 2024
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AND GENERAL ORPHANAGE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 315t MARCH. 2024 Note 2024 2023 Incoming resources Income and endowments Investment income Donations Bank deposit interest Legacy 101.043 20 1,206 7,842 94,605 201 Total incoming resources £iio.111 £94,806 Resources expended Direct charitable expenditure Charitable payments (page 9) 92,137 102,011 Investment management costs Stockbroker's fees 23.756 23,281 Governance costs Meeting expenses Secretarial expenses Accountancy Sundry expenses History loo exhibition Insurance Brochures 81 9.000 3,450 63 125 7,500 3,450 71 3.233 240 248 855 13,697 14,619 Total resources expellded £129.590 £139,911 Net deficit before investment gains (19,479) (45,105) Gains/(Losses) on investment assets during the year Realised Unrealised 142,472 59,105 (8,057) (194,405) 201,577 (202,462) Net movement in fund 182,098 (247,567) Total unrestricted funds brought forward at I, April, 2023 3,412,063 3,659,630 Total unrestricted funds carried forward st at 31 March, 2024 £3,594,161 £3,412,063
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AND GENERAL ORPHANAGE) BALANCE SHEET- 31" MARCH, 2024 Note 2024 2023 Fixed assets Listed investments 3,385,040 3,204,717 Current assets Balances with bankers Cash with stockbrokers 148,558 70,069 144,281 72,444 £218.627 £216,725 Current liabilities Creditors £9,506 £9,379 Net current assets 209,121 207,346 Net assets £3,594,161 £3,412,063 Representing Unrestricted Main fund 3,594,161 3,412,063 Per page 5 £3,594,161 £3,412,063 Signed for and on behalf of the trustees c+-kn Prof P Draper - Chainnan Hull: 7 November, 2024
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AND GENERAL ORPHAIYAGE) NOTES ON THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31st MARCH, 2024 Principal Accounting Polic1=_ Basis of accounting These accounts have been prepared under the historical cost convention with items rccognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts 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 and with the Charities Act 2011. The charity constitutes a public benefIt entity as defined by FRS 102. Investment income DÈvidends received and bank interest are accounted for when receivable by the Charity. Charitable payments Charitable payments are accounted for when approved by the trustees. Other ineome and expenditure costs are accounted for on an accruals basis. Due to the nature and structure of the Charity, there are no support costs and all payments other than charitabl¢ paymcnts are regarded as being related to the governance of the Charity. Taxation As a registered Charity, the Charity is exempt from income tax and capital gains tax. Investments held as fixed assets are valued at their mid-market value by the Trusts, stockbrokers. Movements in their value during the year hav¢ bccn adjusted through the Statement of Financial Activities in accordance with the Statement of Recommended Practice. Going concern The going conc¢m basis of accountÈng has been used in view of the financial strength of the charity. Investments 2024 2023 Quotcd investments at market value £3,385,040 £3,204,717 Historical cost £2,950,236 £2,829,018 Although the Charity's goveming documents allow both the income from investments and the investments themselves to be applied for the aims of the trusL nonetheless the trustees consider the investment portfolio to be held in the nature of a pemianent endowment.
HESSLEWOOD CHtLDREN'S TRUST (HULL SEAMEN'S AND GENERAL ORPHANAGE) NOTES OIY THE FINANCIAL STATEMENTS FOR THE YEIIR ENDED 315t MARCH, 2024 (CONTINUED) Income All of the income generated is used for the purpose of meeting the objects of the Trust. None of the expenditure relates to the raising of funds. Creditors 2024 2023 Accountancy Stockbrokers 3,450 6.056 3,450 5,929 £9,506 £9,379
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AND GENERAL ORPHANAGE) CHARITABLE PAYMENTS 31" MARCH, 2024 For Education: Cat Zero Clifton Primary School Douglas Bader Foundation Family Holiday Charity Fulfill My Wish Happy Days Holy Trinity PCC Hull Womens Aid INTO University Bridlington Kids Yorkshire Kings Mill School New Life North Ferriby Riding for the Disabled Panthlon Foundation Pelican Park Read for Good St. Andrews Hospice St. Cuthberts The Police Community Clubs University of Hull Whizz Kids Young Archaeology Club 2,000 500 1,000 1,000 1,000 4.000 4,000 1,500 10.000 1,000 10,920 1,000 2,500 1,400 9,354 2.000 3.000 750 2,000 15,000 1,000 400 75,324 Payments to or on behalf of specific individuals: For education For relief in need 16,813 16,813 £92,137