MOORE Charlered Accountants "£t Buslness Advisers HESSLIWOOD CHILDREN'S TRUST (HULL SEI AMENgS AND GENERAL ORPHANAGEI) FINANCIAL STATEMENTS FOR THE YEAR ENDED 3111 MARCH, 2025 Registered Charity No: 529804 Aldgate House 1-4 fvlarket Place Hull HUI IRS T.. 01482 326617 F. 01482 329863 E.. ellquirie5@dultonmoore.co.uk
HESSLEWOOD CHtLDREN'S TRUST li (HULL SEAMEI N'S AND GENERAL ORPHANAGE) CONTENTS Report of the Manageinent Committee Independent Examiner's R¢port Statement of Financial Activities Balance Sheet Notes to the Financial Statements Charitable Payments
HESSLEWOOD CHtLDR]£N'S TRUST li (HULL SEAMEN'S AND GEIITRAL ORPHANAGE) REPORT OF THE MANAGEMENT COMWTTEE FOR THE YEAR ENDED 31" MARCH, 2025 Ti'ustees Di, Peter Drap¢i' Ti'acy Caley Gayiiel Miinn Deeiia Lidgett David Stiiait TLlI'nei' Capt. Philip Ai'lher Watts Deiiise Kiiox Pat Glov¢i' David Johii Bowes Revd Gemma Tiirnei. Lesley Davis l(atlii'yii Hudson (Chairinan) (Hon. Ti'easuiEr} (Resigned 7, November, 2024) (Resi]ed 6, August, 2024) (Appoiiited 25 July, 2024) I xecutive Committee Dr Petei. Drapcr Tracy Caley (Chairinan) (Hon. Treasui'ei.) Objectives and Activities th In accordaiicc witli the Cliai'ity's schenies dated 20, May, 1986 aiid I l April, 2017, the fuiids may be applied for the relief of tliose iii need and for the promotion of education. Beneficiai'ies of the Scheine sliall be persons in need, hardship oi. distress who aiE either: (i) Iiiidei. tlie age of 25 ai)d resideiit, or have pareiit(s) resident in eitlier tli¢ forin¢i' couiity of Huinbei'side oi. in tl)e district of Gaijisboi'ougli or Caistoi. iii Lincoliisliire oi. are forinei. resideiits of the Hull Seamen's and General Orphanage. Prefei'ence sliall be given to beneficiaries wlio are tlie cliildren of seamen. In fui'tlieraiice of the aims and objectives the tiwstees may pay for such items, seivices oi. facilities by way of doiiatioiis oi. subsci'iptioiis to iiistitiition5 or oi'gaiiisatioiis wliich pi'ovide or wliicli undejtake iii I'etui'n to pi'ovide siicli items, services or facilities. The Ti'ustees consider that tlie risks to which th¢ Charity is exposed are iiot of matei'ial significance. Public Benefit Tlie Tiwstees coiifinn tEiat they have Carried out their duties undei. tlie Charities Acts. The Trustees apply tli¢ income to a wide range of charitable purposes. Achievenients and l)erformanee Dui'ing the year the trustees have inade donations totallii)g £89,737 (2024 - £92,137) to vai'ious cliai'itable causes. They believe tliat tlie amounts distributcd havc beeii of great beiiefit to tlie ¢liarities cliosen iii tli¢ir woi'k in the widei. commui)ity and to the iiidividuals in need of reliefor education. Financial Positfion and Future Activilies The financial position of tlie Chai'ity is a stroiig one with net assets at 31 Mai'cli. 2025 ainountiiig to £3,580,183 (2024- £3,594,161). Total incoine dui'ing tlie year amoiinted kn £89,024 (2024 - £110, I I l ), of wliiclj £42,215 (2024 £37.453> was applied to Inaiiagenient expeiiscs of the Charity leaving a balance of £46,809 (2024 - £72,658).
HESSLEWOOD CHtLDREN'S TRUST (HULL SEAIIIEI N'S AND GENERAL ORPHAfiAGE) REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 3151 MARCH, 2025 (CONTINUED) Financial Position and fiuture Activities (eontinued) The i'csiilt foi. tlie yeai. is increased by the realised gaiiis on sales of investinenls £102,447 (2024 - £142,472) aiid reduced by the uiii'ealised losseslgaiiis iii the valu¢ of inveslinents of £73,497 (loss) (2024 - £59, 105 (gaiii)). Tlie Cl)arily iiiteiids to continue iinplpAnentiiig its aiins and objectives as set down by the governing dociiment foi. tlie foitlicoiniiig year. Ti'ustees Itsponsibilities in relatioii to the financial statemeiits The charity truste¢s ai¢ r¢sponsible for preparing a trus(ees' repoit and finaiicial stateinents in accordance witli applicable law aiid United Kingdom Accounting Staiidai'ds (United Kingdom Genei'ally Accepted Accounting Pi'actice). Tlie law applicable to charities in England and Wales requires the cliarity trustees to prepai'e financial stateinents for each year whiLh give a truc and fair view of the state of affairs of th¢ cliai'ity and of the iiicoming resources and application of resources, of the charity for ihat pei'iod. Iii prcpai'iiig tl)e fiiiancial stateinents, the trustees al'e required to: select suitable accounting policies and then apply tliein consislently. observe the methods and principles in the applicable Charities SORP. Inake judgements and estimates tliat are reasonable and prudent. state wliethei. applicable accounting stai)dards hav¢ been follow¢d, subject to any material depaituirs disclosed aiid explained in the financial statements. prepai'e the financial statements on the going concern basis unless it is inappi'opi'iate to presume that tlie charity will continue in business. The ti'ust¢¢s are responsible for keeping proper accoui)tiiig records that disclose witli reasonable accui'acy at aiiy time the financial position of the charity and to enable tlicm to ei)surc that the finaiicial slateiiieiits coinply with the Chai'ities Act 201 I, the applicable Charities (Accounts and Reports) Regulatioiis, and ihe provisions of the Ti'ust deed. They are also responsible for safeguarding the assets of the charily and taking I'easoi)able steps for the prevention aiid detection of fraud and other ii'regularities. AppoAntmeiit and Ti'ainillg of Trustees New tl'llstees al'e appointed oli tlie recomnieiidation of ali existing trustee aiid witli the approval of the ti'uste¢s' meeting. All iiecessary training and guidance is given by the executive coininittee and the oth¢r trLlStees. Tlie tnistees are iiot siibjcct to periodic retii'ement or re-electioii. Boai'd of Management Trustees At tlie Aiiiiual Geiiet'al Meetiiig a Board of Trustees sl)all be elecled. Additioiial oi. alterliative appointmeiits niay be inade at an Extraordiiiaiy General Meetiiig. It shall coiisist of not less than five members one of whoin sh811 be the Vicar of l-lessle for tlie time being aiid oiie sliall bc a i'epreseiitative of Trinity Housc Hull. Tlie Boai'd sliall have tlie powei. to co- opt iiienibci's. It shall iiieet at least twice per year (nonnally Marcli aiid October). Additional ineetings Inay be l)eld, if necded.
HESSLEWOOD CHtLDREN'S TRLST (HULL SEAMEN'S AND GENERAL ORPHANAGE) REPORT OF THE MANAGEMENT comivirrrii E FOR THE YEAR II NDED 3111 MARCH, 2025 (CONTINUED) Policies Tlic Ti'ustees i'egard the whole of the income as available to meet the objects of ilie trust. Tliere is iio iiitention to biiild up I'eserves. In this connection, profits (and losses) on the sale of iiivestmei)ts ait not regarded as incoiiie, however, althougl) the Charity's governing docuiiieiits allow botli tlie iiicome fi'oin investmeiits aiid the llivestineiits tli¢iiiselves to be applied foi. tlie aims of tlie ti'ust, iionetheless tlje tl'LlStees coiisider the investineiit poitfolio to be lield in the nature of a single pei'niaiieiit eiidowiiient, Tlic investments al'e actively inanaged on the advice of stockbiokers with a view to pi'eserviiig tlie iyal valiie of the funds whilst at the same time inaintaining the incom¢ available for cliai'itable purposes. All doiiations to be made are approved at the regulai. meetings of tlje trustees. Charity Registration Tlie oi'gaiiisatioii is I'egistei'ed as an unincorporated Cliarity - No. 529804, was formcd on 20111 May, 1986 and is goveriied by a clrIty Commission Scheme of that date, as Irvised by a furihei. Cliarity Coinmissioti Sclieine effective from Ilih April, 2017. Administration Tlie day to day adniinistratioii and loiig tenn planning of tl)e orgaiiisatioii is the responsibility of tlie pi'ii)cipal officei's aiid executive comlnittee. Trustees Tlie trustees are listed oli page l of these accouiits. Secretary Correspondence Address Ydnd PrincipAI Office Mrs L. Biillock, 62 Tlie Meadows, Chei'ry Burtoi), East Yorkshire, HU17 7SD Stoclibi'oliers Barclays Wealth Maiiagenient Banlcei Bairlays Baiik PIC Solicitors Gi'aham & Rosen, 8 Parliament Street, Hull. HUI 2BB Independent ExAminer A.R. Biillook Esq. Diitton Mooi?, Chartered Accoiiiitants. Aldgate House, 1-4 Market Place, Hull, HUI IRS Sigiied foi. aiid on bchalf of tlie trustces Di. P Di'aper- Cliairnjan Hiill,, 13, Noveinbei,, 2025
REPORT OF THE tNDEPENDENT EXLMINER TO THE TRUSTEES OF HEI SSLEWOOD CHILDREN'S TRUST (HULL SEAME¢ N'S AND GENERAL ORPHANAGE) ON THE AccouKfs FOR THE YEAR ENDED 31" MARCH, 2025 CHARITY NUMBER 529804 I repoit oli the accounts of tlie chai'ity for the yeai. ended 31. March, 2025 which are set out on pages 5 to 9. Respective responsibilities of truslees and examiner The cliarity's trustees aiT IEsponsible for the preparation of the accounts. The charity's ti'ustees coiisider tliat an audit is iiot required foi. tliis year under tlie Charities Act and that an indepeiident exainiiiatioii is needed, It is my iTpoliS1b11ity to: exainine the accounts ui)dei' the Chai'ities Act. to follow the procediires laid down in th¢ Geiieral Directioiis giveii by the Charity Commissioii. aiid to state wlietlier particular inatters Iiavc come to my attention. Basis of independent examiiier's i'eport My ¢xamiiiatioii was carried out in accordance with die Genei'al Directioiis giveii by the Charity Coiniiiissioii, An exaiiiiiiatioii includes a review of tlie accounting records kept by tlie cliarity aiid a coinpai'ison of the accounts prcseiited witli tliose i'ecoi'ds. It also includes considcratioii of aiiy unusual items or disclosures iti the accouiits, aiid tlie seeking of explanatioiis froni the trustecs coiiceriiiiig any sucli Aiiatters. Tlie pi'ocedui'es iiiidertakcii do not pi'ovide all tlie evideiice tliat would be required iii an audit aiid, consequeiitly iio opinioii is given as to wlietlier the accounts present a 'tive and fair view, and the report is liin ited to thos¢ mattel. set out iii the stateincnt below. Independent examiner's stAtement Iii coiinectioii witli Iny exain inatioi), no mattel. lias come to niy attentioii: which givcs me I'easoiiable cause to believe that, in any inaterial IEspect, the i'equirements: to keep accounting recoNls in accordance witli tlje Charities Act, and to pi'epare accounts whicli accord with tlie accouiiting recoi'ds and to coiiiply witli tlie accouiitiiig requii'ements of tlie Chayities Act Iiave not been Inet. 2. to which, in iny opinioii, attention should be di'awn in ol'der to eiiable a propel. uiidei'staiidiiig of tlie accouiits to be reached. A.R. Bullock FCA Independeiit Exaininer Dutton Moore Aldgate Hoiise 1-4 Market Place Hiill HUI IRS Dated, 13 Noveinber, 2025
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AND GENERAL ORPHANAGE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH, 2025 Note 2025 2024 Incoming resources Income and endowments Investinent income Donatioiis Banlc deposit interest Legacy 87,268 101,043 20 1,206 7,842 1,756 Total incoming resources £89,024 £110,111 Resources expended Direct chai'itable expenditure Chai'itable payments (page 9) 89,737 92,137 liivestment management cost8 Stockbioker's fees 25,159 23,756 Governance costs Sccretarial expenses Ti'easurer expenses Accountancy Sui)di'y expenses Website Insui'aiice Brocliures Meetiiig expenses i 0,000 3,000 3,480 147 140 289 9,000 3,450 63 248 855 81 17,056 13,697 Total resources expended £131,952 £129,590 Net deficit before investment gain8 (42,928) (19,479) Gainsl(Losses) on investment assets dui.iiig tlie year Realised Uiifft'eal ised 102,447 (73,497) 142,472 59,105 28,950 201,577 N¢t movement in fund (13.978) 182,098 Total iinresti'icted funds brought fonvard at I, Api'il, 2024 3,594,161 3.412,063 Total uni'esti icted funds carried forward at 31, Marcli, 2025 £3,580,183 £3,594,161
HESSLEWOOD CHILDREIN'S TRUST (HULL SEI AMEN>S AND GEIYERAL ORPHANAGE) BALANCE SHEET_31$1 MARCH, 2025 Note 2025 2024 Fixed assets Listed investinents 3,432,116 3,385,040 Curreiit assets Balances with bankers Cash witli stockbrokers 130,385 27,481 148,558 70,069 £157,866 £218,627 Current liabilities Creditoi £9,799 £9,506 Net current assets 148,067 209,121 Net assets £3,580,183 £3,594,161 Representing Unrestricted Main fund 3,580,183 3,594,161 Per page 5 £3,580,183 £3,594,l61 Sigiied for and on behalf of thc trustees Dr P. Di'aper - Cliaii'man th Hull,. 13 Novcinber, 2025
HEI SSLEWOOD CHILDREli'S TRUST (HULL SEAMEN'S AND GENERAL ORPHANAGE) NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDF.D 31" MARCH, 2025 Principal AcLounting Polic1:_ Basis of accounting Tliese accounts have been prcpared under the historical cost convention with items ircogiiised at cost or ti'ansaction value unless otlierwise stated in the relevant notes lo these accounts. The accoiints have been prepai'ed in accordance with the Statement of Recominended Practice.. Accounting and Reporting by Cliarities preparing th¢ir accounts iii accordance with the Fiiiancial Repoiting Standard appliLable in the UK and Republic of Ireland (FRS 102) issued on 16 July, 2014 aiid with tlie Charitics Act 2011. The charity constitutes a public bcnefit entity as defined by FRS 102. Investment income Divideiids received and bank inteirst are aounted for when receivable by the Cliarity. Charitable payments Charitablc payments air accounted for when approved by the trustees. Other income and expenditure eosts air accounted for on an acci'uals basis. Due to tlie nature aiid Sli'ucture of the Charity, thei'e are no support costs and all payments othei. than charitable payineiits are regai'ded as being related to the governance of the Charity. Taxation As a i'egistered Charity, the Cliariiy is exempt from incoine tax and capital gaiiis tax. Iiivestment8 held as fixed assets are valued at their Inid-lnarket value by the Ti'usts, stockbi'okei's. Movements in their value during the year have been adjusted through the Statement of Finaiicial Activities in accordance with the Statement of Recommended Pi'actice. Going coiicern Tlic &)oing coiicein basis of accountiiig has been used in view of tlie fiiiancial sts'engtli of the chai'ity. Iiivestments 2025 2024 Quoted investments at market value £3,432,116 £3,385,040 Histoi'ical cost £3,070,809 £2,950,236 Although the Charity's governing documents allow both the incoine from investmeiits and tlie iiivestments themselves to be applied for the aims of the trust, iioiietlieless th¢ trustees coiisidei. tlie investment portfolio to b¢ held in tlie nature of a rinanent endowment.
HESSLEWOOD CHILDREt N'S TRUST (HULL SEAMEN'S AND GEIIERAL ORPHANAGE) NOTES ON THE FINANCIAL STATEMENTS FOR THE YE4AR ENDED 315t MARCH, 2025 (CONTIYUED) Income All of tlie income generated is used for the purpos¢ olineeting the objects of the Trust. None of th¢ expenditui'e relates to the i'aRsi118 of fui)ds. Creditors 2025 2024 Accountancy Stockbrokei's 3,480 6,319 3,450 6,056 £9,799 £9,506 Trustee s remuneration Mi's T, Caley was paid £3,000 (2024 - £Nil) for her services as treasurer for tlie two ycars to 31, Mai'ch, 2025.
HESSLEWOOD CHILDREN'S TRUST (HULL SEAMEN'S AND GENERAL ORPHANAGE) CHARITABLE PAYMEIYTS 3151 MARCH, 2025 For ducation: Adelaide Primary School Astliina Relief Beverley Manor Road Nursery Candleighters Cat Zero Clifton Pi'iinaiy School Drcam Holidays Eternal Benefits Haiidicapped Cliildrens Action Happy Days Hull Trinity (Hull Minster Choir) Hull Woinens Aid Kids Yoi'lcsliire Noitli Fei'i'iby Riding for the Disabled Oi'cliesti'a Live Police Community Clubs of GB Read foi, Good St Coluiiibas CIILlI'ch St James Acadeiny The Fainily Holiday Chai'ity The Fi'ieiids of Lockington Scliool Uiiiversity of Hull University of Hull (INTO Gi'imsby) University of Liiicoln Bu13aries Wliizz Kids 3,000 1,000 1,000 1,800 1,000 500 1,700 720 1,204 2,000 4,320 1,500 1,500 4,000 750 1,000 2,000 880 2,000 1,000 665 15,000 10,000 5,000 1,000 64,539 Payments to or on behalf of specific individuals: For education For i'elief of need 1,500 23,698 25,198 £89,737