HAMMARBANK TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2025
HAMMARBANK TRUST
INDEX
FOR THE YEAR ENDED 5 APRIL 2025
1 Index
2-3 Annual Report of the Trustees 4 Independent Examiner’s Report 5-6 Receipts and Payments Accounts
- 7
Statements of Assets and Liabilities
8 Notes to the Accounts
1
HAMMARBANK TRUST
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2025
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 5 April 2025.
Reference and Administrative Details
| Registered Charity | |
|---|---|
| Number | 700840 |
| Trustees | MrPEM OglethorpeTD(Died 16 January2025) MrGS Parkinson |
| MrD J Sykes | |
| Principal Address | MrGS Parkinson |
| Valley Crest | |
| Thurshwood | |
| Keswick | |
| CA12 4PG | |
| Solicitors | Oglethorpe, Sturton& Gillibrand |
| 16 Castle Park | |
| Lancaster | |
| LAI 1YG | |
| Bankers | HSBC |
| 35 Market Street | |
| Lancaster | |
| LAI 1JQ | |
| Stockbrokers | Canaccord WealthManagement |
| 25 Brock Street | |
| Lancaster | |
| LA! 1UR | |
| IndependentExaminer | JC Comthwaite FCACTA |
| Xeinadin | |
| Dalton House | |
| 9 Dalton Square | |
| Lancaster | |
| LAI1WD |
2
HAMMARBANK TRUST
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2025
Structure, Governance and Management
Hammarbank Trust is constituted by Deed of Trust dated 15 October 1946 and is a Registered Charity, Number 700840.
The Charity has no staff and all administration is carried out by the Trustees without remuneration or expenses. New Trustees are appointed by the continuing and retiring Trustees.
The Accounts are kept on a day to day basis by Mr G S Parkinson, who receives all correspondence. Annual Accounts are prepared by Mr GS Parkinson, one of the Trustees, and are examined by the independent examiner Mr J C Cornthwaite of Xeinadin, Accountants of Lancaster.
Objectives and Activities The object of the Charity is to provide funds to the Lancashire Association of Boys and Girls Clubs, (Registered Charity Number 521362) for the general purposes 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 (2024 - £54,000).
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 aims to holds sufficient reserves to maintain the current level of grants. Free reserves as at 5 April 2025 were £10,556 (2024 - £10,754).
The Endowment fund is held to generate income for the Charity. The fund cannot be distributed.
The Charity has sufficient funds to meet its liabilities.
Investments
The assets of the Charity are Investments on the Stock Market as set out in the Annual Accounts. Stockbrokers acting for the Trustees, namely Canaccord Genuity Wealth Management, monitor these, conduct a three monthly Portfolio Review and make recommendations. Investments are selected on the basis of these recommendations with the aim of balancing risk, protecting the capital and generating income for distribution.
4) S Parkinson Trustee
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For and on behalf of the Trustees
GSNu Avrcust 2025
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3
HAMMARBANK TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2025
I report on the financial statements of the Trust for the year ended 5 April 2025 which are set out on pages 5 to 8.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
e examine the accounts under section 145 of the 2011 Act;
-
e follow the procedures laid down in the general Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
-
e state where 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 the accounts, and seeking explanations from 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 matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
1 which gives me reasonable cause to believe that, in any material respect, the requirements:
-
e to keep accounting records in accordance with section 130 of the 2011 Act; and e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 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.
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J C Cornthwaite FCA CTA
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Date_ ‘2 \ /O¥ 1018
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Xeinadin Dalton House 9 Dalton Square Lancaster LAI 1WD
4
HAMMARBANK TRUSTEES
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
| 1 General PurposesFund |
|||
|---|---|---|---|
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income Receipts | |||
| Investment Income | 1 | 61,352.59 | 61,067.42 |
| Total Receipts | 61,352.59 | 61,067.42 | |
| Payments | |||
| Direct Charitable Expenditure | |||
| Grants to Lancashire Association | |||
| ofBoys and Girls Clubs | 2 | 54,000.00 | 54,000.00 |
| OtherExpenditure | |||
| IndependentExaminer's Fees | 756.00 | 720.00 | |
| Stockbrokers Management Fees | 6,793.95 | 6,601.22 | |
| TotalPayments | 61,549.95 | 61,321.22 | |
| Net Surplus / (Deficit) for theyear | (197.36) | (253.80) | |
| Cash and Bank Balances as at | |||
| 5 April2024 | 10,753.69 | 11,007.49 | |
| Cash and Bank Balances as at | |||
| 5April2025 | 10,556.33 | 10,753.69 |
5
HAMMARBANK TRUSTEES
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
| 2 Permanent Endowment Fund | |||
|---|---|---|---|
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income Receipts | |||
| Proceeds from Sale ofInvestments | 109,265.68 | 23,152.69 | |
| Total Receipts | 109,265.68 | 23,152.69 | |
| Payments | |||
| Direct Charitable Expenditure | |||
| Purchase ofInvestments | 104,144.02 | 23,081.89 | |
| TotalPayments | 104,144.02 | 23,081.89 | |
| Net Surplus /(Deficit) for theyear | 5,121.66 | 70.80 | |
| Cash and Bank Balances as at | |||
| 5 April 2024 | 12,493.52 | 12,422.72 | |
| Cash and Bank Balances as at | |||
| 5April2025 | 17,615.18 | 12,493.52 |
6
HAMMARBANK TRUSTEES
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 5 APRIL 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Monetary|Assets|
|General|Purpose Fund Bank Account|10,556.33|10,753.69|
|Permanent Endowment Fund|Bank Account|17,615.18|12,493.52|
|28,171.51|23,247.21|
|Represented|by:|
|High|Interest|Cheque Account|27,950.77|24,598.99|
|Brokers|Account|220.74|(1,351.78)|
|28,171.51|23,247.21|
|Non-Monetary|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|1,266,029.00|1,255,008.00|
|Securities|held|at valuation|1,463,562.00|1,475,895.00|
|Liabilities|
|Independent Examiners|Fee|720.00|720.00|
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Approved on behalf of the Trustees
G S Parkinson Esq
Trustee
Date Oj 1 Buaut Avas
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7
HAMMARBANK TRUSTEES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2025
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| 1 | Investment Income | ||
| Gross Interest | 505.97 | 432.80 | |
| Distributions fromUK resident companies | 37,805.04 | 32,964.73 | |
| Dividends and Distribution fromUK | |||
| Authorised Unit Trusts andOEICS | 3,822.71 | 3,837.16 | |
| Interest fromUK Securities (Interest Bearing) | 1,075.31 | 1,518.75 | |
| Interest fromUK Authorised Unit Trusts | |||
| and OEICS | 3,112.86 | 2,855.45 | |
| PropertyIncome Distributions UK Real Estate | 3,844.56 | 5,271.30 | |
| Dividends and Interest from Overseas | |||
| Companies and Overseas Unit Trusts | 11,186.14 | 14,187.23 | |
| Income tax refund | - | - | |
| 61,352.59 | 61,067.42 | ||
| 2 | Grants to Lancashire Association ofBoys and Girls Clubs | ||
| £ | £ | ||
| 13/04/2024 | 10,000.00 | 10,000.00 | |
| 15/07/2024 | 18,000.00 | 17,000.00 | |
| 17/10/2024 | 14,000.00 | 14,000.00 | |
| 13/01/2025 | 12,000.00 | 13,000.00 | |
| 54,000.00 | 54,000.00 |
8