## **THE HARTSHEATH CHARITABLE TRUST** ## **REPORT AND ACCOUNTS** **FOR THE YEAR ENDED 5 APRIL 2024** **Charity Registration No. 702659** ## **THE HARTSHEATH CHARITABLE TRUST** ## **ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024** ## **CONTENTS** ||**Page**| |---|---| |Reference and administrative information|1 - 2| |Trustees’ Report|3| |Receipts and payments accounts|4| |Balance Sheet|5| |Appendix|A - B| ## **THE HARTSHEATH CHARITABLE TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 5 APRIL 2024** ## **FULL NAME OF CHARITY:** The Hartsheath Charitable Trust **CHARITY REGISTRATION NO:** 702659 **GOVERNING DOCUMENT:** Deed of Settlement dated 13 November 1989 **PRINCIPAL OFFICE:** c/o Carter Jonas LLP Canon Court North Abbey Lawn Shrewsbury Shropshire, SY2 5DE **SETTLOR:** Dr M C Jones-Mortimer Dec'd. **TRUSTEES:** The present Trustees are Dr M Dechazal, Mrs J Kaufmann and Mrs O Kaufmann . The statutory power of appointing new or additional trustees is vested in the current Trustees. ## **OBJECTS:** The Trust Fund which consists of Stock Exchange securities received as a legacy under the Will of the late Mrs E S Jones-Mortimer, is held by the Trustees upon trust to pay the income and any amounts of capital that they think fit for charitable purposes according to the law of England and Wales. By a deed of variation dated 1 August 2008, a legacy of two holdings of quoted securities, represented by their sale proceeds of £49,499, was added to the trust assets. The Trustees can therefore use the income of the Trust Fund and any of the capital to make donations not only to established National or Local Charities but also to individuals and institutions provided the purposes for which the gift is made falls into at least one of the following categories: - 1 **The relief of poverty** (e.g. payments to ex-employees or their spouses but any such payments need to be genuinely for 'the relief of poverty'). - 2 **The advancement of education** (e.g. payments to individuals undergoing education or to schools for educational purposes or maintenance of buildings etc). - 3 **The advancement of religion** (e.g. payments to churches for repair and maintenance). 1 ## **THE HARTSHEATH CHARITABLE TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 5 APRIL 2024** ## **(continued)** |**OBJECTS:**|**(continued)**|**4 Any other purposes beneficial to the community**| |---|---|---| |||(e.g. anything not specifically included in the preceding three categories| |||but purposes must be genuinely "beneficial to the community" and| |||this will be strictly construed).| |**DONATIONS**|**TO THE**|Donations may be made to the Trustees by any one at any time.| |**TRUST:**||However the value of a donation to the Trust is enhanced if it is made| |||out of the donor's taxed income and it is made as a Gift Aid donation,| |||which can be of any amount. The Trustees are able to claim from HM Revenue| |||& Customs the basic rate of tax deemed to have been deducted from| |||the donation.| |**FUND:**||The Trust's assets are available and adequate to fulfil the obligations| |||of the Trust.| |||The Trust Deed of Settlement (dated 13 November 1989) confers on the| |||Trustees the power to accumulate income for such period as allowed by| |||law.| |||The Trustees have therefore declared that, taking into account all the| |||circumstances, they are of the view that the appropriate accumulation| |||period for the Settlement was 21 years from the date of its creation on 13| |||November 1989.| |**STOCKBROKERS:**||Canaccord Genuity| |||88 Wood Street| |||London| |||EC2V 7QR| |**BANKERS:**||National Westminster Bank Plc| |||Castle Street| |||Conwy| |||LL32 8AS| |**ACCOUNTANTS:**||AD Accounts Limited| |||Rural Enterprise Centre| |||Vincent Carey Road| |||Rotherwas| |||Hereford| |||HR2 6FE| 2 # ## **THE HARTSHEATH CHARITABLE TRUST** ## **TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 5 APRIL 2024** The Trustees present their report and accounts for the year ended 5 April 2024, which have been prepared in accordance with the governing document, the Charities Act 2011, the Statement of Recommended Practice - Accounting and Reporting by Charities (published July 2014) and applicable accounting policies. ## **Organisation** The Trustees have delegated the day to day management of the charity to Carter Jonas LLP. None of the Trustees receive any form of direct remuneration for their work. The Trustees have delegated the management of the investments of the charity to Canaccord Genuity on a discretionary basis. However the Trustees review the investment portfolio on a regular basis. ## **Financial review** Twenty-one donations totalling £17,700 (2023: £17,421) were made in the year, the largest being of £1,500 to 5 recipients. The Trustees were satisfied that all the donations complied with the charitable objects of the Trust. Total net receipts before investment transactions for the year amounted to £14,290 (2023: net receipts £49,425). Net assets at 5 April 2024 totalled £314,691 (5 April 2023: £296,090) and were unrestricted as to use. ## **Investment policy** The Trustees hold shares in listed UK equities which are held to generate capital growth and income. The income and related tax rebates are applied to charitable donations. The market value of investments increased during the year from £278,519 to £288,520, an increase of 3.59%. ## **Reserve policy** The Trustees consider it prudent to hold a 'free reserve' (i.e.uninvested net current assets) sufficient to fund unforeseen expenditure and charitable donations. At 5 April 2024 this 'free reserve' of £36,912 (5 April 2023: £23,564) was available and adequate to fulfil the obligations of the Trust. ## **Public benefit** The Trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. ## **By order of the Trustees** ……………………………. Dr M Dechazal (nee Kaufmann) ……………………………. Mrs J Kaufmann ……………………………. Mrs O Kaufmann ## **Trustees** 3 # ## **THE HARTSHEATH CHARITABLE TRUST** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024** |DRAFT
**Receipts**
_Voluntary income:_
Donations
Gift aid claim
Dividends (net)
Interest received (gross)
**Total receipts**
**Payments**
**Charitable activities**
Donations (net)
**Cost of generating funds**
Investment management costs
**Total Expenses**
**Net Receipts for the year before investment transactions**
**Realised profit (loss) on sale of investments**
Fund Balances brought forward
Fund Balances carried forward
**B**
**(Page 5)**
**Appendix**
**A**
**A**|**2024**
**2023**
Unrestricted Unrestricted
Fund
Fund
**£**
**£**
500
56,300
20,155
-
12,552
11,546
213
166
33,420
68,012
17,700
16,921
1,430
1,666
19,130
18,587
14,290
49,425
4,311
( 2,991)
296,090
249,656
314,691
296,090| |---|---| All activities during the year and the preceding year were classed as continuing. 4 # ## **THE HARTSHEATH CHARITABLE TRUST** ## **BALANCE SHEET** |**DRAFT**||||||||| |---|---|---|---|---|---|---|---|---| ||**AS AT**|**5 APRIL**|**2024**|||||| |||||**2024**|||**2023**|| ||||**£**||**£**|**£**||**£**| |**INVESTMENT ASSETS**||||||||| |Quoted investments at book||||277,779|||272,526|| |valuation|(Appendix A)|||||||| |Market value 5.4.24 £288,520||||||||| |(Market value 5.4.23 £278,519)||||||||| |Bank accounts|and cash deposits||||36,912|||23,564| |**NET ASSETS**||||314,691|||296,090|| |**FUNDS**||||||||| |Unrestricted||**(Page 4)**||314,691|||296,090|| Approved by the Board of Trustees on and signed on its behalf by ……………………………… Dr M Dechazal (nee Kaufmann) ……………………………… Mrs J Kaufmann ……………………………… Mrs O Kaufmann 5 **Appendix A** ## **HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2024** |**Market**
**Historic**
**Value**
**Cost**
**Nominal Holding**
**Description**
**5.4.23**
**5.4.23**
**£**
**£**
**UK & OVERSEAS EQUITIES, BONDS, ALTERNATIVES**
1,000
Advanced Medical Solutions Group
2,195
2,574
5,000
Artemis Income Funds
12,664
11,588
50
AstraZeneca
5,797
2,545
500
Auto Trader Group
2,973
2,945
(bought 6.3.23)
55
AXA World Funds US Enhanced High Yield Bond
4,289
5,470
170
BHP Group
4,101
2,606
(170)
(sold 19-4-23)
1,000
BP
5,337
4,270
(1,000)
(sold 19-4-23)
285
Columbia Threadneedle Core Fund
3,856
3,459
(excess income invested 30.6.23)
300
Craneware plc
3,330
4,130
55
Croda International
3,496
3,568
25
(bought 16-10-23)
80
Dowlais Group
-
-
500
(demerger Melrose Industries 19-4-23)
1,250
(bought 14-8-23)
(1,750)
(sold 19-2-24)
550
Dunelm Group
5,979
6,510
3,500
Ecofin GBL Utilities
-
-
(bought 24-4-23)|**Purchases**
**Sales**
**£**
**£**
4,254
5,487
40
1,105
2,032
1,529
7,638|**Realised**
**Historic**
**Market**
**Profit**
**Cost**
**Value**
**on sale**
**5.4.24**
**5.4.24**
**£**
**£**
**£**
2,574
1,812
11,588
13,541
2,545
5,309
2,945
3,486
5,470
4,516
1,648
-
-
1,217
-
-
3,499
4,914
4,130
6,570
4,673
3,638
( 503)
-
-
6,510
5,995
7,638
5,688|**Date**
**of**
**Payment**
09/06/23
27/10/23
30/06/23
31/12/23
11/09/23
25/03/24
22/09/23
26/01/24
09/01/24
30/06/23
14/04/23
15/12/23
26/05/23
03/10/23
27/10/23
11/04/23
11/04/23
20/11/23
31/05/23
31/08/23
30/11/23
29/02/24|**Income**
**Received**| |---|---|---|---|---| |||||**£**
15.10
7.00
270.82
234.85
35.90
78.00
28.00
16.00
192.50
40.32
17.50
48.00
33.55
25.85
24.50
82.50
220.00
148.50
68.25
68.25
68.25
71.75| # **Appendix A** ## **HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2024** |**Market**
**Historic**
**Value**
**Cost**
**Nominal Holding**
**Description**
**5.4.23**
**5.4.23**
**£**
**£**
8,500
Fidelity Emerging Market
5,933
8,102
(8,500)
(sold 31-10-23)
7,500
Franklin Templeton Funds Clearbridge
9,008
8,151
1,500
GB Group
4,227
5,452
185
Goldman Sachs Asset Management Japan Equity
3,430
1,922
(income reinvested 31.5.23)
Greencoat UK Wind Plc
-
-
2,750
(bought 24-4-23)
500
(bought 14-8-23)
750
(bought 29-8-23)
4,000
260
GSK
3,867
4,444
400
Guinness Global Equity Income
7,486
6,073
HICL Infrastructure
-
-
3,000
(bought 24-4-23)
500
(bought 14-8-23)
800
(bought 29-8-23)
4,300
1,250
HSBC Holdings
6,928
7,031
250
IMI
3,665
2,663|**Purchases**
**Sales**
**£**
**£**
121
5,499
1
6,057
6,165|**Realised**
**Historic**
**Market**
**Profit**
**Cost**
**Value**
**on sale**
**5.4.24**
**5.4.24**
**£**
**£**
**£**
( 2,724)
-
-
8,151
8,415
5,452
3,948
1,923
4,949
6,057
5,496
4,444
4,235
6,073
8,288
6,165
5,366
7,031
8,016
2,663
4,415|**Date**
**of**
**Payment**
08/08/23
31/10/23
31/05/23
31/08/23
30/11/23
29/02/24
03/08/23
31/05/23
18/12/23
26/05/23
25/08/23
24/11/23
29/02/24
13/04/23
13/07/23
12/10/23
11/01/24
31/07/23
31/01/24
30/06/23
29/09/23
29/12/23
28/03/24
30/06/23
29/09/23
29/12/23
28/03/24
27/04/23
23/06/23
21/09/23
21/12/23
12/05/23
15/09/23|**Income**
**Received**| |---|---|---|---|---| |||||**£**
164.90
120.70
87.12
145.66
108.00
80.51
60.00
1.46
26.75
60.23
60.23
87.60
137.20
35.75
36.40
36.40
36.40
92.52
63.32
19.87
1.44
38.98
36.32
42.23
70.66
49.60
52.26
231.74
99.22
99.73
99.41
43.50
22.75| # **Appendix A** ## **HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2024** |**Market**
**Historic**
**Value**
**Cost**
**Nominal Holding**
**Description**
**5.4.23**
**5.4.23**
**£**
**£**
iShares Gold Producers
(sold 2022/2023)
(excess reportable income adjustment 31.5.23)
10,000
Jupiter Global Strategic Bond
5,547
5,563
5,400
(bought 6-11-23)
15,400
3,750
Learning Technologies Group
4,793
4,182
2,000
Legal & General Group
4,696
4,519
500
(bought 19-4-23)
2,500
375
Legal & General US Index Trust
3,267
3,270
(dividends accumulated 15-8-23 & 5-2-24)
1,000
Liontrust Sustainable Future Growth Fund
2,499
2,668
4,000
Liontrust Sustainable Future UK Growth
-
-
(bought 28-9-23)
(dividend accumulated 31-3-24)
11,250
Lloyds Banking Group
5,448
5,478
1,500
M & G
2,848
3,099
500
Matthews Asia Funds (ex Japan)
6,020
5,595
1,500
Melrose Industries plc
2,458
2,344
( 1,000)
(demerger Dowlais Group & share consolidation 19-4-23)
260
(bought 19-2-24)
760
5,000
Mercantile Investment Trust
9,660
9,284|**Purchases**
**Sales**
**£**
**£**
42
2,627
1,255
44
8,475
1,589
533|**Realised**
**Historic**
**Market**
**Profit**
**Cost**
**Value**
**on sale**
**5.4.24**
**5.4.24**
**£**
**£**
**£**
( 42)
-
-
8,190
8,333
4,182
3,184
5,774
6,275
3,314
4,163
2,668
2,930
8,475
9,320
5,478
5,996
3,099
3,125
5,595
5,270
3,400
5,119
9,284
11,075|**Date**
**of**
**Payment**
31/05/23
30/06/23
29/09/23
29/12/23
28/03/24
14/07/23
27/10/23
05/06/23
26/09/23
05/08/23
05/02/24
31/03/24
23/05/23
12/09/23
27/04/23
03/11/23
05/07/23
04/10/23
29/12/23
03/04/24
11/04/23
20/10/23
01/08/23
01/11/23
01/02/24
11/05/23|**Income**
**Received**| |---|---|---|---|---| |||||**£**
41.91
50.69
74.07
67.64
94.89
43.13
16.88
348.25
142.75
21.91
22.02
20.67
180.00
103.50
201.00
97.50
48.27
55.44
21.23
25.94
22.50
7.50
72.50
72.50
72.50
155.00| # **Appendix A** ## **HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2024** |**Market**
**Historic**
**Value**
**Cost**
**Nominal Holding**
**Description**
**5.4.23**
**5.4.23**
**£**
**£**
8,500
MI Twenty Four Focus Bond
7,021
8,326
(equalisation 31.5.23)
10,500
MI Twenty Four Asset Backed Inc.
10,967
11,590
(equalisation 31.5.23)
367
National Grid
4,143
4,306
233
(bought 19-4-23)
600
1,000
Neuberger Berman Investment Funds
7,630
8,916
(excess income invested 30.6.23)
Neuberger US Equity
(sold 2022/2023)
(excess reportable income adjustment 30.6.23)
2,550
Ninety One Fund Managers Global Env
3,964
2,732
950
(bought 16-8-23)
3,500
230
Pacific Capital Partners North of South
2,678
2,941
170
(bought 31-8-23)
400
700
Phoenix Group Holdings
3,808
4,956
300
(bought 19-4-23)
350
(bought 17-10-23)
1,350
325
Prudential
3,585
3,883
35
Prusik Asia Equity Income
(bought 18-10-23)
70
Reckitt Benckiser Group
4,435
5,044
450
Rentokil Initial
2,672
2,301|**Purchases**
**Sales**
**£**
**£**
23
39
2,612
34
53
1,449
2,053
3,352
5,516|**Realised**
**Historic**
**Market**
**Profit**
**Cost**
**Value**
**on sale**
**5.4.24**
**5.4.24**
**£**
**£**
**£**
8,303
7,477
11,551
11,645
6,918
6,195
8,950
7,980
( 53)
-
-
4,181
5,411
4,994
5,311
8,308
7,385
3,883
2,332
5,516
5,243
5,044
2,992
2,301
2,042|**Date**
**of**
**Payment**
31/05/23
30/11/23
31/05/23
30/11/23
09/08/23
11/01/24
30/06/23
06/07/23
04/10/23
04/01/24
04/04/24
30/06/23
02/05/23
17/04/23
17/07/23
16/10/23
16/01/24
10/05/23
23/10/23
15/05/23
19/10/23
31/01/24
24/05/23
15/09/23
17/05/23
11/09/23|**Income**
**Received**| |---|---|---|---|---| |||||**£**
229.51
271.29
497.31
513.58
225.60
116.40
34.37
73.93
89.58
72.18
83.19
52.56
28.99
9.06
47.93
50.88
32.73
182.00
260.00
34.00
16.75
142.80
77.21
53.62
23.18
12.38| # **Appendix A** ## **HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2024** |**Market**
**Historic**
**Value**
**Cost**
**Nominal Holding**
**Description**
**5.4.23**
**5.4.23**
**£**
**£**
125
Rio Tinto
6,604
2,948
(125)
(sold 19-4-23)
9,995
Royal London
12,184
11,529
(9,995)
(sold 20-9-23)
15
RWC Nissay Japan Focus
2,168
2,159
(15)
(sold 21-8-23)
13,500
Schroder Asian Income Maximiser
6,456
7,375
(13,500)
(sold 19-10-23)
25,000
Schroder UK Income Maximiser
10,958
12,609
10,000
Schroder Unit Trusts US Income Maximiser
6,255
5,604
Semper Strategic Focus High Yield
(sold 2022/2023)
(excess reportable income adjustment 30.6.23)
400
Shell
9,452
7,996
(400)
(sold 19-4-23)
Sparx Japan Institutional
35
(bought 18-8-23)
20
(bought 13-2-24)
55
2,000
Tesco
5,278
4,782|**Purchases**
**Sales**
**£**
**£**
6,928
12,274
2,059
6,063
1
9,942
6,163|**Realised**
**Historic**
**Market**
**Profit**
**Cost**
**Value**
**on sale**
**5.4.24**
**5.4.24**
**£**
**£**
**£**
3,980
-
-
745
-
-
( 100)
-
-
( 1,312)
-
-
12,609
10,978
5,604
7,275
( 1)
-
-
1,946
-
-
6,163
7,256
4,782
5,790|**Date**
**of**
**Payment**
20/04/23
28/04/23
31/07/23
31/10/23
31/05/23
31/08/23
30/11/23
28/04/23
31/07/23
31/10/23
31/01/24
20/06/23
20/09/23
20/12/23
20/03/24
30/06/23
23/06/23
24/11/23|**Income**
**Received**| |---|---|---|---|---| |||||**£**
231.69
106.85
179.91
154.21
79.06
143.80
158.22
144.55
286.63
208.33
178.38
85.90
77.94
85.94
85.56
0.72
141.00
77.00| # **Appendix A** ## **HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2024** |**Nominal Holding**
60
TM
20
UB
(20)
50
UB
100
Un
30
Wi|**Description**
Fulcrum Income
(equalisation 28.4.23)
AM Positive Impact Emerging Equity
(excess income invested 30.6.23)
(sold 29-8-23)
S (Lux) Asian Flexible Bond
ilever
sdomTree Metal Securities Core Physical Gold|**Market**
**Historic**
**Value**
**Cost**
**5.4.23**
**5.4.23**
**£**
**£**
5,222
5,552
2,904
3,334
5,205
5,869
4,289
3,665
4,844
4,604|**Purchases**
**Sales**
**£**
**£**
8
10
2,854|**Realised**
**Historic**
**Market**
**Profit**
**Cost**
**Value**
**on sale**
**5.4.24**
**5.4.24**
**£**
**£**
**£**
5,544
5,249
( 490)
-
-
5,869
5,240
3,665
3,836
4,604
5,496
4,311
277,779
288,520
(Page 4)
(Page 5)|**Date**
**of**
**Payment**
28/04/23
31/05/23
30/06/23
31/07/23
31/08/23
29/09/23
31/10/23
30/11/23
29/12/23
31/01/24
29/02/24
28/03/24
30/06/23
26/04/23
06/06/23
15/06/23
31/08/23
08/12/23
22/03/24|**Date**
**of**
**Payment**
28/04/23
31/05/23
30/06/23
31/07/23
31/08/23
29/09/23
31/10/23
30/11/23
29/12/23
31/01/24
29/02/24
28/03/24
30/06/23
26/04/23
06/06/23
15/06/23
31/08/23
08/12/23
22/03/24|**Income**
**Received**
**£**
24.78
29.71
34.92
31.77
31.89
34.22
34.22
33.37
33.39
33.56
36.41
26.86
9.89
35.00
92.72
37.83
37.00
37.15
36.47| |---|---|---|---|---|---|---|---| |||278,519
272,526|58,434
57,492||||12,552.32| ||||||||(Page 4)| # **Appendix B** ## **THE HARTSHEATH CHARITABLE TRUST** ## **DETAILS OF DONATIONS** ## **FOR THE YEAR ENDED 5 APRIL 2024** |**2024**
**£**
Addington Fund
1,000
Asthma Relief at Work in Clwyd
-
Bangor University biochemistry prizewinner: Cerys Rothero
500
Blind Veterans
1,500
Carers Trust Wales
-
Caudwell Children
500
Christ Church biochemistry student prize
-
Christ Church, Pontblyddyn
600
DASU (Domestic Abuse Safety Unit)
2,600
(2 years donations due to transition to online payments)
Gladstone's Library
-
Gladstone's Library: Kaufmann's scholar
-
Happy Days (x2)
-
Home Start, Cymru
1,500
Jacksons Animal Sanctuary
1,000
(2 years donations due to timing issue)
Mold Hospital League of Friends
1,000
Music in Hospitals and Care Homes
-
National Museum of Wales
500
Neuadd Eleanor Village Hall
600
Nightingale House Hospice
1,500
Ruth Jones (for Bridget Peake)
-
Pontblyddyn CC
-
Rhys Meilyr
-
Rossett Community Food Cupboard
1,000
(2 years donations due to timing issue)
SSAFA, The Armed Forces Charity
-
St Cynfarch & St Mary, Llanfair DC
600
St Ffraid's Church
1,200
(2 years donations due to transition to online payments)
St Giles Wrexham
-
St. Marys Whitewell PCC
600
Tall Ships Trust
-
Tenovus Cancer Care
-
The Police Community Clubs of Great Britain
-
Ty Gobaith Children's Hospice
1,500
Welsh Historic Gardens Trust
-
17,700
_Less: uncashed cheques written off:-_
Ty Dewr (Salvation Army)
-
Net Donations
**(Page 4)**
17,700|**2023**
**£**
1,000
500
-
700
200
-
500
600
-
500
969
750
1,100
-
1,000
750
500
1,600
1,100
250
500
200
-
500
600
1
300
600
600
500
1
1,100
500| |---|---| ||17,421
( 500)| ||16,921| #