HAMIIIARBANK TRUST ANNUAL REPORT AIYD FINANCIAL STATEIVIENTS OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024
HAMMARBANK TRUST INDEX FOR THE YEAR EIYDED 5 APRIL 2024 Index Annual Report of the Trustees Independent Examiner's Report Receipts and Payments Accounts Statements of Assets and Liabilities Notes to the Accounts
HAMMARBANK TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APIUL 2024 The trustees are pleased to present their report together with the financial statements of the charity for the year ended 5 April 2024. Referenee and Administrative Details Registered Charity Number 700840 Trustees Mr P E M Oglethorpe TD Mr G S Parkinson Mr D J Sykes Principal Address Mr G S Parkinson Valley Crest Tburshwood Keswick CA12 4PG Solicitors Oglethorpe, Sturton & Gillibrand 16 Castle Park Lancaster LAI IYG Bankers HSBC 35 Market Street Lancaster LAI IJQ Stockbrokers Canaccord Genuity Wcalth Management 25 Brock Street Lancastcr LAI IUR Independent Examiner S W Hinnigan FCA CTA Xeinadin Dalton House 9 Dalton Square Lancaster LAI IWD
HAIlARBANK TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 Structllre, Governance and Management Hammarbank Trust is constituted by Deed of Trnst dated 15 October 1946 and is a Registered ch(ltY, Number 700840. The Charity has no staff and all athninistration is carried out by the Trustees without remuneration or expenses. New Trustees are appointed by the Continuing and retiring Trnstecs. The Accounts arc kept on a day to day basis by Mr G S Parkinso who receivcs all cOespondenCe. Annual Accounts are prepared by Mr G S Parkinson, onc of thc Trustee8, and arc exarnined by the indepcndent examincr Mr S W Hinnigan of Xeinadin, Accountants of Lancaster. Objectives and Activities The object of the Charity 18 to provide funds to the Lancashire Association of Boys and Girls Clubs, (Registered Charity Number 521362) for the general pury)oses of that Charity and in particular for the provision and maintenance of buildings and equipment. Achievements, Performance and Public Benefit The Charity achieves its objectives by making grants to Lancashire Association of Boys and Girls Clubs, who spend it assisting clubs for young people in Lancashire. During the year the Charity produced sufficient income to make grants of £54,000 (2023 - £56,000). The trustees have referred to the guidance contained in the Charity Commission general guidance on Public Benefit, when deciding on grants to be made. Financial Review The charity ain]s to holds sufficient reserves to maintain th¢ current level of grants. Free reserves as at 5 April 2024 were £10,754 {2023 - £11,007). The Endowment fund is held to generate income for the Charity. The fund cannot be distributed. The Charity has sufficient funds to mcct its liabilities. Investments Thc asscts of the Charity arc Iuvebttnents on the Stock Market as set out in thc Annual Accounts. Stockbrokcrs acting for the Trustee8, namely Canaccord Genuity Wealth M(Inagcment, monitor these. conduct 41 thr¢¢ rnonthly Portfolio Review and make recommendations. Invcstmcnts are sclcct¢d on thc basis of these recommendations with the aim of balancing risk, protecting the capital and generating income for distribution. Mr P E M Oglethorpe TD Chairn]an For and on behalf of the Trustees 3 £kf. 2024
HAMMARBANK TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 5 APIUL 2024 I report on the financial statements of the Trust for the year ended 5 April 2024 which are set out on pages 5 to 8. Respective responsibilities of trustees and examiner The charity's trustees are responsiblc for the preparation of the accounts. The charity's trustees Lonsider that an audit IS llot required for this year under section 144(2) of tbe CharitAes Act 2011 (the 201 l Act) and that an independcnt examination is needed. It is my rcsponsibility to: examine the accounts under scction 145 of the 2011 Act. follow the procedures laid down in the general Directions given by the Clwity Commissioners under section 145(5)(b) of the 201 l Act. and state wbere particular rnatters 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 the accounts, and seeking explanations frorn you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those nMtters set out in the statement below. Independent examiner's statement In conncLtion with my exarnin(Ition. no matter has corne to my attention: which gives me reasonable cause to believe that, in any material respect, the requiTcments: to keep accounting records in accordance with section 130 of the 201 l Act. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 201 l Act have not been met. or 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. S W Hinnigan FCA CTA Xeinadin Dalton House 9 Dalton Square Lancaster LAI IWD Date lo LOL
HAMMARBANK TRUSTEES RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 l General Purposes Fund 2024 2023 Notes Income Receipts Investment Income 61,067.42 58,947.74 Total Receipts 61,067.42 58,947.74 Payments Direct Charitable Expenditure Grants to Lancashire Association of Boys and Girls Clubs 54,000.00 56,000.00 Other Expenditure Independent Examiner's Fees Stockbrokers Management Fees 720.00 6,601.22 666.00 6,613.25 Total Payments 61,321.22 63,279.25 Net Surplus / (Deficit) for the year (253.80) (4J31.51) Cash and Bank Balances as at 5 April 2023 11,007.49 15,339.00 Cash and Bank Balances as at 5 April 2024 10,753.69 11,007.49
HAMMARBANK TRUSTEES RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 2 Permanent Endowment Fund 2024 2023 Notes Income Receipts Proceeds from Sale of Investments 23,152.69 23,804.82 Total Receipts 23,152.69 23,804.82 Payments Direct Charitable Expenditure Purchase of Investments 23,081.89 23,553.55 Total Payments 23,081.89 23.553.55 Net Surplus l (Deficit) for the year 70.80 251.27 Cash and Bank Balances as at 5 April 2023 12,422.72 12,171.45 Cash and Bank Balances as at 5 April 2024 12,493.52 12,422.72
HAMMARBANK TRUSTEES STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Monetary Assets General Purpose Fund Bank Account Perni<ellt Endowment Fund Bank Account 10,753.69 12,493.52 11,007.49 12,422.72 23,247.21 23,430.21 Represented by: High Interest Cheque Account Brokers Account 24,598.99 (1,351.78) 24,573.80 (1,143.59 23,247.21 23,430.21 Non-Mon¢tary Assets - Permanent Endowment Fund Income Tax Recoverable Lancashire Association of Boys and Girls Clubs Loan 50,000.00 50,000.00 Investment Assets Securities held at cost Securities held at valuation 1,255,008.00 1,475,895.00 1,270,397.00 1,458,418.00 Liabilities Independent Exaininers Fee 720.00 666.00 Approved on behalf of the Trustees P E M Oglethorpe Esq Chaimw] Date ¥g_kn 20
HAMMARBANK TRUSTEES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APIUL 2024 2024 2023 I Illvestment Income Gross Interest Distributions from UK resident companies Dividends and Distribution from UK Authorised Unit Trusts and OEICS Interest from UK Securities (Interest Bearing) Interest from UK Authorised Unit Trusts and OEICS Property tncome Distributions UK Real Estate Dividends and Interest from Overseas Companies and Overseas Unit Trusts Income tax relld 432.80 32,964.73 78.27 34,333.64 3,837.16 1,518.75 3,415.20 800.37 2,855.45 5,271.30 2,578.94 4,971.20 14,187.23 12,770.12 61,067.42 58,947.74 2 Grants to Lancashire Association of Boys and Girls Clubs 1210412023 1410712023 1111012023 2910112024 10,000.00 17,000.00 14.000.00 13.000.00 9,000.00 20,000.00 18,000.00 9.000.00 54,000.00 56,000.00