THE HARTLEY CHARITABLE TRUST REPORTS & FINANCIAL STATEMENTS IS MARCH 2024 RAWSE, VARLEY & CO Chartered Accountants Bradford
THE HARTLEY CHARITABLE TRUST CONTENTS Page Legal & Administrativc Infonnation Trustces, Annual Report Independent Examinerfs Report to the Trustees Accounting Policies ststement of Financial Activiti¢s Balance Shcet Notes to the Financial Statcments 8-10
THE HARTLEY CHARITABLE TRUST LEGAL & ADMINISTIL4TIVE INFORMATION Charity Name: The Hartlcy Charitable Trust Registered Charkty Number: 800968 Principal Address: 6 Throstle Nest Drive Harrogate HG2 9PB Trustees: Charles Richard Hartley Esq (Chaimian of Trustees) Mrs Jane Hartley Mrs Peta Elizabeth Hillard Hyland Date of Charity Trust Deed: 31 July 1988 Bankers: SG Kleinwort Hambros Bank Ltd 8 Harewood Yard Harewood Leeds LS17 9LF Stockbrokers: Brewin Dolphin Ltd 10 Wellington Place Leeds LSI 4AN
THE HARTLEY CHARITABLE TRUST TRUSTEES, ANNUAL REPORT For the year ended 15 March 2024 Th¢ Trustees pr¢sent their Annual Report and the unaudited Financial Statements of the Charitable Trust for the year ended 151b March 2024. Constitution The Trust was established by a Charitable Trnst Deed dated 31" July 1988 and is administered by its Trustees. The current Trnstees, all of whom served throughout the year, are shown on page I together with other administrative infonnation. In accordance with the Charitable Trust Deed, the power of appointing or removing a Trnstee lies with a majority for the time being of the Trustees. The Hartley Clwitable Trust is a registered charity> number 800968. Charitable objectives and public benefit Under the provisions of the Charitable Trust Deed, the Trustees are directed that the income and capital of ihe Trust are to be applied to make donations for such charitable purposes or to such charitable institutions as the Trustees in their absolute discretion may think fit. The Trustees confimi that in carying out such directions they give due consideration to the Charity Commission's published guidance on the Public Benefit rcquirement under the Charities Act 2011, Review of activities The Statement of Financial Activities for the year is detailed on page 6 of the fmancial statements. The deficit of income over expenditure for the year of £13,411 has increased by £1,189 in comparison with the prcvious year, with the investment income incrcasing by £6,043 which allowed the Trustees to increase the grants to charitable institutions by £7,200, whilst there was a small increase in administration expenses of £32. The Trustees exercised their power of investment to continue the restructuring of their investment portfolio with the disposal of investments having an opening book value of £434,913 and a gain on disposal amounting to £10,813. The proceeds realised on sale of £445,726 were applied in the purchas¢ of investments at a book cost of £434,288. Plans for the future and reserves policy The Trustecs intend to continue to make grants to CEitable institutiotL8 at a sustainable level and have a policy of maintaining reserves at a level sufficient for the purpose. Statement of Trustees, responsibilities Th¢ Trustees are r¢sponsible for preparing the Trustees, Report and the fmancial statements in accordance with the Charitable Trust Deed, the Charities Act 2011 and the Charities SORP (FRS 102). The financial statcments have been prq)ared on the accnlals basis and where the accruals basis is used, the law applicable to charities in England & Wales requires Trustees to prepare financial statements for each financial year which give a true and fair view of the statc of affairs of the charity and of its income and expenditure for that year. In preparing such financial statements, the Trustees are required to: select suitable accounting policies & apply them consistentky; observe the methods and principles in the Charities SORP (FRS 102).
THE HARTLEY CHARITABLE TRUST TRUSTEES, ANNUAL REPORT For the year ended 15 March 2024 Statement of Trustees, responsibilities {Continued) make judgements & estimates that are reasonable & prudent. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the CharAties Act 201 I, the Charities SORP (FRS 102) and the provisions of th¢ Trust Deed. They are also responsible for safcguarding the assets of the charity and hence for taking reasonable steps for the prevention & detection of fraud & other irregularities. The Trustees, Annual Report was approved by the Trustees and signed on their behalf by C R EL4RTLEY ESQ (Chairnian of Trnstees) 15 January 2025
THE HARTLEY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT to the Trustees of The Hartley Charitable Trust I report on the fmancial statements of The Hartley Charitable Trust for the year cnded 15 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes on pag¢s 8 to 10. Respective responsibilities of the Trustees and the Examiner The Charity's Trustees are responsible for the preparation of the Financial Statements in accordance with the Charities Act 2011 ('tthe Act"). The Charity's Trnst¢es consider that an audit is not required for this year under Section 144(2) of the Act and that an independent examination is needed. It is my responsibility to,. examine the financial statements under Section 145 of the Act. follow the procedures laid down in the applicable Directions given by the Charity Con)mission under Section 145{5)(b) of the Act. and state whether particular matters have come to my attention. Basis of Independent Examiner's Statement My examination was carried out in accordance witli general directions given by the Charities 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 financial statements and seeking explanations from the Trustees concerning any such matterg. 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 financial statements 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 Matt has come to my attention to indicate that: accounting records have not been kept in accordance with Section 130 of the Act. the financial statements do not accord with those rccords. the financial statements fail to comply with the Charities SORP (FRS 102). in my opinion the matter should be drawn to the attention of the reader to gain a proper underslanding of the financial statements. J. M. RAWSE F.C.A. Rawse, Varley & Co Chartered Accountants Lloyds Bank Chambers Hustlergate Bradford BDI IUQ 15, January 2025
THE HARTLEY CHARITABLE TRUST ACCOUNTING POLlCtES The Trustees have adopted the following principal accounting wlicies which forni an integral part of the financial statements,. Basis of preparation The fmancial statements have been prepared under the historical cost convention, as modified by the revaluation of invcstmcnts at market value at the balance sheet date. The financial statements have been prepared in accordancc with the provisions of Statement of Recommended Practicc: Accounting and Reporting by Charities prq)aring their accounts in accordance with the Financial Rcporting Standard applicable in the UK and the Republic of Ireland {FRS 102) (second edition- October 2019) ("Charities SORP (FRS 102)") and with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (FRS 102). The Charity constitutes a public benefit entity as defined by FRS 102. Fund accounting Unrestricted fLmds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. lllcome recognition All income, including investment income, is included in the statement of fll]ancial activities when the charity is entitled to the income, the receipt of the income is considered probable and the amount can be quantified with reasonable accuracy. For legacies, entitlement is taken as the earlier of the date on which the estate is finalised or when a distribution is received from the estate. Expenditure Expenditure is rccogniscd by the charity on the accruals basis inclusive of any VAT which cannot be recovered or when there is a legal and constructive obligatioll to a third party and the amount of the liability can be measured reliably. Charitable expenditure represents costs incurred in the d¢livery of charitable activities. Fixed asset investments Investments are stated at fair value. In the case of investments traded on a recognised stock exchange, fair value is deternlined by reference to quoted bid prices. Changes in the valuation of investments are reflect¢d in the movement in funds in the statement of financial activities.
THE HARTLEY CHARITABLE TRUST STATEMENT OF FJNANCIAL ACTIvrrIES Year ended 15 March 2024 Unrestricted funds Income General fund fund Total 2024 Total 2023 Note IDcome: Investment income 62,360 62,360 56,317 Transfer- Reinvestment of Unit Trust accumulations (688) 688 61,672 688 62,360 56,317 Expendlture: Charithble expendilure.. Grants to institutions (57,300) (57,300) (50,100) Support costs.. Administration expcnses (3,120) (15,351) (18,471) (18,439) Total expenditure (60,420) (15,351) (75,771) (68,539) Income less expenditure 1,252 (14,663) {13,411) (12,222) Other recognised gains and losses Realised gains on investment asset sales Unrealised gains/(losses) on investment assets 10,813 169,247 10,813 169,247 10,170 (57,858) Net moven)ent in fund 165 397 166 649 59910) Funds brought fonvard at 16 March 2023 41 Funds carried forward al 15 March 2024 498 2 495 419 All the components of net movement in funds relate to continuing activities. The notes on pages 8 to l O fonn part of these financial statements.
THE RTLEy CHARITABLE TRUST BALAF4CE SHEET 15 March 2024 Note 2024 2023 Fixed assets Investhients 2,475,283 2,306,661 Current assets Cash at bank 49,754 48,607 Current liabilities Creditors falling due within one year (6,120) (3,000) Net current assets 43,634 45,607 Total assets less current liabilities 2518917 Represented by Unrestricted funds: General fund Income fund 2,495,419 23,498 2,330,022 22,246 al statements on pages 5 to 10 were approved by the Trustees on 15th January 2025 and signed by YESQ MRS J HARTLEY 14crh£ MRS PE H HYLAND Trustees The notes on pages 8 to l O forni part of these financial statements.
THE HARTLEY CHARITABLE TRUST NOTES TO THE FINANCIAt, STATEMENTS Year ended 15 March 2024 2024 2023 Investment income Dividends received from Stocks & Shares of U.K. Companies Distributions received from Unit Trust Holdings Dividends received from Overseas Securities Interest received from British Government Securities 29,386 15,625 14,507 2,533 36,090 9,403 9,697 914 62,051 56,104 Interest received on deposits with: Brewin Dolphin Ltd 309 213 Total investment income Grants to charitable institutions Dementia Fonvard- Alzheimer's Society Harrogate Homeless Project Limited Th¢ Carer's Resource Senior Volunteer Network Samaritans of HaOgate 30,600 10,800 8,400 7,500 30,600 10,800 8,400 300
THE HARTLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 15 March 2024 2024 2023 Administration expenses Independent examiner's remuneration: Examination fee Other accountancy fees 360 2,790 360 2,640 3,120 3,000 Portfolio management fees 15,351 15,439 Total administration expenses Transactions with trustees and other related parties No remuneration or other benefits w¢re paid to the Trustees and no Trustees, expenses were incurred in either year. Fixed asset investments Quoted investments: Market value at 16 March 2023 2.306,661 2,373,406 Less.. Disposals at opening book value (Proceeds £445,726, Gain £10,813) (434,913) (1,243,089) 1,871,748 1,130,317 Add: Acquisitions at cost Net gainl(loss) on revaluation at 15 March 2024 434,288 169,247 1,234,202 (57,858) Market value at 15 March 2024 2 475 283 2 306 661 Historica] cost at 15 March 2024
10 THE HARTLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 15 March 2024 2024 2023 Creditors Amounts falling due within one year: Accruals AnaIysis of net assets between funds Unrestricted funds Income General Total funds Fund balances at 15 March 2024 are rcprcscntcd by: Investments Current assets Current liabilities 2,475,283 2,475,283 20,136 49,754 (6,120) 29,618 (6,120} Total net assets 2495 419 21 Unrealised gains included above: On investment assets 495 513 495 513 Reconciliation of movement in unrealiscd gains on investment assets: Unr¢alised gains at 15 March 2023 In respect of disposals in the year 386,792 {60.526) 386,792 (60.526) 326,266 326,266 Net gain arising Oll revaluation in year 169,247 169,247 Unrealised gains at 15 March 2024 49.5 513