Charlty number: 801465
CENTRAL HARDSHIP AND RELIEF TRUST
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

CEiifRAL HARDSHIP AND REUEF TRUST
Reference and Admlnlstratfve Detalk of the Charity. its Tnth and Advlsers
Trustees. Report
IndependentAudltorfs Report on the Flnanclal Statemnts
statemènt of Financial Activitles
Balance Sheet
10
Statement of Cash FkN
11
Notes to the Financlal state￿
12-25

CEPffiIAL HARDSHIP AND REUEF TRUST
REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARfrY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 JUNE 2024
Trust
R. H. Lynes, Princlpal Correswdent During the Ye¥
. J. Hobbs
T. J. Pocod(
J. S. Teissonnre
T. W. Barter
S. F. Rich
C. Campbell
K. Coldrick
D. K. Williams
Charity reglstered number
801465
Prlnclpal offi¢•
clo Shaw Gibbs
Wey Court West
Union Road
Famham
Surrey
GU9 7PT
Independent auditor
Shaw Gibbs Wudit) Limited
Statutory Auditor
Wey Court West
Union Road
Famham
Surrey
GU9 7PT
Bankern
HSBC Bank PIC
18 High Street
Reigate
Surrey
RH2 9AY
Sollcltorn
Farrer & Co
66 Lincoln's Inn Fields
London
2A 3LH
Page 1

CEKfRAL HARDSHIPAND REUEFTRusr
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The Trustees of the Central Hardship & Relief Trust hewtth issue thar Report & Finan¢ial Statements for the
ended 30 June 2024. The Report and Statern￿ts C￿nplY wilh the Charities Act 2011 and Accounting and
Reporting by Charities; Ststement of Recommended Practice applicable to charittes preparing their accounts in
accordance with the FinancHI Reporting Standard appltcable in the UK and Republic of Ire￿nd (FRS 102)
(effective 1 January 2019).
Structure. governance and management
The Trust was registered on 3rd February 1989 as the Sedgehill Povety Trust. the name being changed on 30th
June 2006. It is governed by the Trust Deed dated 3rd FetKuary 1989. as amended by supplemental Deed
dated 16 June 2006.
A principal object is the relief of povety amongst the Brethren in any part of the world. including the provision of
accommodation and ass[Stsn￿ with medical expen%% for in necessitou$ circumstances.
The Charity has the further prirKipal objecl of carying on the Service of Gc>J.
b. Methods of appolnlment or election of Tntstees
The Charity is run by a Board of Trustees. The Truslees are all approved by the Bible & Gospel Trust of
Chelwood House. Cox Lane. Chessington. Surw I￿9 1DN. The Board will have a maximum of 15 Trustees
V￿rkIng as a team to meet the objects of Ihe Twst as set out in the G¢weming Deed.
The Trustees recognise the need for different skills and resources when recwiting new trustees including what
may be required due to any additional workload. Trustees are app¢inted for an indefinite period and must be
approved by the Bible & Gospel TntsL Support is provKled for trustee training when needed.
On 3rd April 2025. the Bible & Gos￿1 Trust relinquished ils inpul and approval reSp¢￿IbIlItieS. granting CHART
trustees sole authority to make decisions indep￿dendy. without requiring extemal approval.
c. Oryanlsatlonal structure and decislon4naklng polictes
Fortnightly Trustees. meetings are tsld over ZoThn to ratify any requests made and to ensure charitable aims are
met. ColFaborat#)n wth I[￿lon Welfare in marketing has proven very beneficpl.
The day to day manag￿￿1t of the Tmst operations is delegated to ExecUtiveAss￿ts. remunerated on an
houty basis frjr the work undertaken.
d. Volunteers
The chanty is grateful for the assistance recaved fr￿￿ Elders, who provide confim)ations to support grant
applications based on their close kncrwledge of irKlividual circumstances.
e. Rlsk management
The Trustees confim that the maior risks to which the charity is exposed are Identified by the Trustees, and are
reviewed and that procedures have been put in place to manage those risks.
Page 2

CEKfRAL HARDSHIP AND REUEF TRUST
TRUSTEES. REPORT {coKnNUED)
FOR THE YEAR ENDED 30 JUNE 2024
Objectlves and actlvliles
a. Pollcles and obJectfve8
The Trusrs overall palic*s remained unchanged throughwtthefinancial year2023-2024.
Grant making pollcy
Grants are made for the relief of Povwty amongst the Brethren in any part of the world. including the provision of
accommodation and in assbstance with medical expenses for those in necessitous circumstances.
Loan making pollcy
Loans are made for the relief of Poverty anM)ngst the Brethren in any part of the world. induding the provision of
accommodation aThd in assistance with exp￿￿ for those in necessitous circumstances.
b. Maln actlvltles undertaken to furthw tho Charfty's purposes for the publlc benefit
The Trustees have referred to the guidance conlained in the Charity Commission's generdl guidance on publlc
benefit when reviwing the aims and obiectbves and in planning the future activities. In particukr the Trustees
consider how planned grants. gifts aThd loans will contnTrJute to the aims arKI obiectNes that they have set. The
Trustees consider the current polrcy for grant and loan making delivers public benefft. Details of the objects
which forni the basis of this policy are given earlier in this report.
Achievements and perfornHnce
a. Revlew of acdvltles
Throughout the year the Trust has continued to fijjfd its obj&Aives n the provision of the support of Brethren in
necessitous Circu￿fjtan￿.
The Trust provided support for men, women and children in different parts suffering from dfficuft heallh
conditions which required specialist medica] treatment where the stste syste￿6 vme unable to assisL The Trust
also assisbj to relieve harf$h￿ for sryne c&8es of single fathers or mothers bringirvJ up their famili&s.
The Trustees provided all their woth. support and travel at no to the TrusL
Page 3

CEKfRAL HARDSHIPAND REUEFTrUST
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
Flnanclal revlthv
Full details of the financial affairs are set out on the pages 9 to 25. As Can be seen from the SOFA, totsl Income
and Endtr4vments came to £1,587,839 for the year, all unrestrKted funds (2023.. £628.522 all unrestricted funds).
Total Expenditure came to £1.782,888 for the year (2023." £1.701,321}. This resujted in a def￿[t of £195.049 for
the year (2023: dthtt £1.072.799).
After making appropri*e enquirtes, the trustees have reasonable expectation that the charity has adequate
resLwrces to continue in q)efational existence for the foreseeable future. For this reason they continue to adopt
the going cortsrn basis in preparing the financial stat￿TIents. Further details regarding the adoption of the going
ncem basis can be found in the Acc¢xnting Policies.
b. ReseNes pollcy
The TNstees' policy on reserves is to nwintain a level of funds to cover any urgent charitable needs that may
arise within the scope of Trust Deed. based on their prevK)us knowledge of the level of funds required. This
requi￿ funds available in a current account and reserves on notice in other accounts.
The Trust maintains a General Fund and that fund was sufficient to meet all the commitments made during the
year. Payments from the fund h￿￿ been made in the normal course of the charitable actNities and there have
been no excepttonal payments. At 30th June 2024 Restri(Xed Reserves of £28.933 (2023: £28,933) and
Unrestricted Reserrfes of £3,557,292 (2023.. £3.752.341) were hekl. Free Rese￿￿$ (Unrestricted ReseNes less
Fixed Assets) at 30th June 2024 were £2.103.258 {2023: £2.842.130).
c. Matarlal Investments polky
The Charity generally maintsins a policy of l(AV risk investrnent regarding its fvnds, and most are held as
deposrts with the main UK banks.
. Plans for future porkxls
. Future developments
The Trust aims to conttnue to fuffil ils objectp4es. Any requests for grants or loans V•ill be submTlled lo the Trust
whereupon the Trustees 44111 give them ￿nSideratiOn in the light of (a) the Trusts aforementioned policies, (b) an
application fomi. (c) other requests. and (d) the fijnds awailable at the time.
There are no kn{P￿ or future events anticipated to affwx financial pthrmance. including the ongoing impact of
CoNid-19.
. Restrfcted funds
The Jamaican Fund represents donations received from over the worfd to assist with the ch*itable needs in
Jamaica.
PwJe 4

CENTRAL HARDSHIP AND RELIEF TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
. Grants disclosure
Grants were made during the year as follows..
Grants made to individuals
Jamaica Povety Trust
Grants made to individuals
1,615,617
40,000
Statement of Trustees. responsibilities
The Tru51ees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and applicalion of resources, including its income and expenditure, for thai period. In preparing these financial
statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102)-
make judgments and accounting estimates that are reasonable and Prudent..
slate whether applicable UK Accounting Standards (FRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity
and enable them to ensure that the financial statements comply with the Charitie5 Act 2011. the Charity
{Accounls and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding Ihe assels of the Charty and hence for taking reasonable steps for the prevention and detection of
fraud and other I￿egularitIes.
Disclosure of infonnation to auditor
Each of the persons who are Trustees at the time when this Trustees. Report is approved ha5 confimed that:
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditor 15
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit infomiation and to establish that the charity's auditor is aware of thal infomation.
Approved by order of the members of the board of Trustees on Apr 29, 2025
and signed on their behalf by=
R. H. Lynes
Trustee
Page S

CEp¥fRAL HARDSHIP AND REUEF TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CEKfRAL HARDSHIP AND REUEF TRUST
Oplnlon
We have aLKlited the financial slaternents of Central Hardship arKI Relief Trust (the 'charitY) for the year ended
30 June 2024 whrch comprise the Statement of Financial Activittes. the Balance Sheet. the Statement of Cash
Flows and the related notes. induding a summary of significant accounting polictes. The financial reporting
framework that has been applied in their preparation is applicable L74Y and Uniied Kingdom Accounting
Standards. indudirKJ Financial ReportiNJ Standard 102 The Financial Reporting Standard appli¢able in the UK
and Republic of Ireland, (United lQngdom Generalty Accepted Accounting Practtce).
The financial statements have been prepared in accordance with Accounts'ng and Reporting by Charities
preparing their accounts tn accordance with the Financial Rewrting Standards applicable in the UK and Republlc
of I￿land {FRS 102) in preference to the Accounting and Reporting by CharitTres.' stat￿nent of Recormiended
Practice issued on 1 April 2005 vthich is referred to in the exlant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair ¥1￿ in accordance with the Generally
Accepted A¢o)unting PractKe effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial stat￿.
give a true arKI fair VI￿ of the sL*I of the charitys affairs as at 30 June 2024 and of its incomlng
resources and appltcatton of resources for the year then ended:
have been properly prepared in accordance with United Kingdom Generally Accepted A¢￿UntIng
Practu; and
have been prepar￿1 in accordance with requirements of the Charitie5 Act 2011.
Basis for opinlon
We conducted our audit in accordance with Internatio￿1 Standards an Auditing (UK) (ISAS (UK)) and applrcable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit
of the financial statements section of our report. We are independent of the charity in accordance with the ethtcal
requirements that are relevant to our audil of the financial statements in the Uniied Kingdcxn, including the
Financial Reporting Council's Ethical Standard, and we have fuffilled our ot￿r ethul responsibilities in
accordan￿ with these requirements. We believe that Ihe audit evidence we haNE obtained is Suff￿lent and
appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In audriing the financial statements, we have w￿luded that the Trustees, use of the going concem basis of
accounting in the preparatim of the financial sLqtements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events or
conditions that indivtdually or collectivdy. may cast siqnificant doubt on the chartty's abilty to continue as a going
¢oncem for a Per￿3d of at least tWe￿e months from when the financial statements are authorised for issue.
Our responsbi ilities and the responsknliiies of the Trustees with respect to going concem are described in the
relevant sections of this reporL
Page 6

CENfRAL HARD￿P AND REUEF TRUST
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF CEIITRAL HARDSHIP AND RELIEF TRUST
(coTrmNUED}
Other Inforniatlon
The other irrformation C￿npriseS the irrformation included in the Annual Report other than the financlal
ststements and our Audrtofs Report thereon. The TnJstee5 are responsible for the other infornation contained
wilhin the Annual Report. Our opinion on the financial ststements does not cover the other infomwtion and.
except to the extent otherwise expficitly S&￿ed in our report. we do not express any forni of assuran￿ conclusK>n
thereon. Our reS￿nSIbl1ty is to read the other inf0m￿tion and, in doing so, consider whether the other
inforniatton is materialFy inconsisknt wilh the financial statements or our knrywlwjge obtained in the course of the
audit, or othemse appears to be materially MisSL￿ed. If we identify such matwial inconsistencies or apparent
material misstatements, are required to determine whether this gives rise to a material misstatement in the
financial statements thenwlves. If. based on the *Drk have perfomied, conclude that there Is a material
misstalement of this other information. we are required to report that fact.
We have nothlng to report in this ward.
Matters on whtch we arn r•qulred to report by exc￿￿0￿
We have nothing to report in respect of the follwig matters where the CharilEs (Accounts and Reports)
Regulatiorts 2008 requires us to report to you rf. in our opinion:
the infom*tion given in the Trustees. Report is inconsistent in ary materAI respect with the financial
statements; or
sufficient accounting records have not been kept or
the fjnancial statements are not in agreement wilh the accounting record5 and retums: or
we have not received aH the inf(Kmth and explanations we require for our audit.
Responslbilities of trustees
As explained more fully in the TTUStees' ResponsbilitEs Statement, the Tnjstees are responslble for the
preparation of the financial statements which give a true and fwr vw, and for such internal control as the
Trustees detennine is necessary to enable the preparation of financial statements that are free from matwial
missL*ment, %*thether due to fraud or error.
In preparing the financial Staterr￿ts, the Trustee5 are responsft)le for assesslng the charivs abllty to continue
as a going concem, disclosing, as applicable. matters related to going ¢oncem and using ihe going concem
basi5 of accounting unless the Trustees eilher inlerKI to IKiuidate the charity or lo cease operations, or have no
realistic altemative but to do so.
Audltof8 re8pon8ibillties forthe audit of the financial statements
We have been appointed as aurfrtor under section 144 of the ChaTittes Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurarts about whether the financial statements as a whole are free
from material misstatement. whether due to fraud or error, and to issue an Auditorfs Report that Includes our
opinion. Reasonable assurance is a huh level of aSsUra￿e, but is not a guarantee that an audrt conducted in
accordance wtth ISAS (UK) will always detect a material misstatem8nt when rt exists. Misstatwnents can arise
from fraud or error and are considered material rf, lndivNJL￿Ity or in the aggregate. they could reasonably be
expected to Influen￿ the e￿noMiC decisions of user5 taken on the basis of these financial statements.
Irregutarittes. includlng fraud. are instsnces of nonwcompliance wrth lavs and regulations. We design procedures
Page 7

INDEPENDENf AUDIToifs REPORT TO THE MEMBERS OF CENTRAL HARDSHIP AND RELIEF TRUST
{cO￿nNUED)
In line with our responsfoilities, outlined above, lo detect material rnisstatements in respect of irregularities,
including fraud. The extent to which our Pr￿edureS are capable of detecting irregularits'es, including fraud is
detailed belw.
We gained an underslanding of the legal and regulatory framthvork applirable to the charity and the industy in
which it operate5, and consider&J the risk of acts by the charity that were contrary to applicable laws arKI
regulations, incltmling fraud. We designed audit procedures to respond to the risk. recognising that the risk of not
detecting a material misstatement due to fraud is higher than the risk of not detecting one resuMing from error, as
fraud may involve delil)erate concealment by. far example, forgw or intentional mksrepresentations, or through
collusion.
We focussed <)n law5 and regulations which could give rise to a material mlsstatement in the financial
statements. induding, but not limited to the Charities Act 2011 and UK legislation.
Our tests included agreeing the financial statement disclosures to underlying supporting dooumertstion and
enquirte5 with management. There are Inhe￿nI limttations in the audit procedures described above and. the
further removed non-compliance with laws and regulations is tr￿n the events and trartsactions reflected in the
financial statem&nts, the less likely we would become aware of it. We not identify any key audit matters
relating to irregularities, including fraud. As in all our audits. we also addressed the risk of management overrFde
of intemal controls. including testing joumals and ewalvating whether there was evidence of bias by the Trustees
that represented a risk of material nwsstatement due to fraud.
A further descriptton of our responsibilities for the a￿lit of the financk?I statements is located on the Financial
Reporting Council's vRbsite at: W¥￿1.frc.
.uklauditorsres
onsibili
This description forn￿ part of our
Auditofs Report.
Use of our report
This report is made solely to the Charitys trustees. as a body. in aecordance with Part 4 of the Charilres
(Accounts and Reports) Regulat￿n3 2008. Our audit work has been undertaken so that we might state to the
Charitys trustees those matters we are required to state to them in an Auditorfs Report and for no other purpose.
To the fultest extent pemttted by law, we do not accept or assume responsbilty to anyone other than the charity
and its trustees. as a boty. for our audit wth. for this repcrt or for the Opini(￿ ￿ have forrrEd.
Shaw Glbbs (Audlt) Limited
Statutory Audbtor
Wey Court West
Union Road
Famham
Surrey
GU9 7PT
Date: s o
Shaw Gibbs (Audit) Limited are eligible to act as auditors in tern￿ of section 1212 of the Companies Act 2006.
Page 8

CEtrifRAL HARDStrUP AND REUEF TRusr
STATEMENTOF FINANCIALACTivmES
FOR THE YEAR ENDED 30 JUNE 2024
Unr•strlcted Restricted
fund5
2024
Total
funds
2024
funds
2023
2024
Income from:
Donations and legacies
Other tradirvJ aCtivit￿S
Investnwnts
1.678.940
1&78J40
1387
7ffi12
552.117
57,203
19.202
7.612
Totsl incomo
1.587.839
1 187,839
628,522
Expenditure on:
Charitable adivities
1.782m8
1,781888
1,701.321
Total expendfture
1,782,888
1.782,888
1.701,321
Net movement In funds
(195.0491
1195,IWJ} (1,072,799J
Reconclllation of fvnds:
Total fvnds brought forward
Net movement in funds
3.752*1
(195W)
3,781.274
4.854,073
(19&049) (1,072.799J
Total funds carrled forward
3.557292
21933
3.586225
3, 781.274
The Statement of Financial Activibes includes al gains and losses recognised in the year.
The nrtes on pages 12 to 25 form part ofthese fin￿la1 sta1&ne￿.
Page 9

CENTRAL HARDSHIP AND RELIEF TRUST
BALANCE SHEET
AS AT 30 JUNE 2024
2024
2023
Note
Ftxed assets
Tangible assets
11
1.454.034
910,211
1,454,034
910,211
Current assets
Debtors.. amounts falling due after more than
one year
Debtors". amounts falling due within one year
Cash at bank and in hand
12
12
1.726.603
642,252
659.055
1,658,026
785,218
451,044
3,027,910
2,894,288
Creditors.. amounts falling due within one
year
13
{895.719)
(23,225)
Net current assets
2,132.191
2,871,063
Total assets less current liabilities
3.586.225
3,781,274
Total net assets
3,586,225
3, 781,274
Charityfunds
Restricted funds
Unrestricted funds
14
14
28,933
3,557,292
28, 933
3. 752,341
Totsl funds
3,586,225
3.781,274
The financial
statements were
approved and
Apr 29, 2025
authorised for issue
by the Trustees
and signed on their behalf by..
on
R. H. Lynes
Trustee
The notes on pages 12 to 25 form part of these financial statements.
Page 10

CEKfRAL HARDSHIP AND REUEF TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024
2024
2023
Cash flows from operallng acllvttles
Net cash used in operatirva a(Jivi
17
200,399 {1.133.843)
Cash flows from Invtsung actm
Dividends, interests arKI rents from investm
7,612
19.204
Net cash provlded by Investing acthiltles
7,612
19.204
Cash Ilows from flnanclng actlvities
Repayments ofborrnmng
Net provlded by financlng actlvhles
50.000
Change In cash and cash equlvalents In the year
Cash and cash equivalents at ttrk8 beginning of
208,011
451.044
11.064.639)
1,514683
Cash and cash equlvalents at th• end of the
18
659,055
451.044
The notes on pages 12 to 25 fom) part of these financid statem
Pa9e11

CEKfRAL HARDSHIP AND REUEF TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Genernl information
CHART is a charity, incryrated in England and Vvales. Its registered office address is clo Shaw Gibbs,
Wey Court Wesc UniM Road. Farnham. Surrey. GU9 7PT.
Accounting policles
11 Basis of preparatlon of financial slatements
The financial statements have been pwared in accordance with the Charitres SORP (FRS 102) -
Accounting and Reportirvj by Charitses: Statem￿1 of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard appltible in the UK
and Republic of Ireland {FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireknd (FRS 102) arKI the Chartties Act 2011.
The financial statements have been prepared to gr¥e a Irue and fairf view and have departed from
the Chartties (Accounts and Rep¢xts) Regulations 2008 only to the extent required to provide a 'true
and fairf view. This departure has involved folkmiing the CharitFes SORP (FRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended
Practice effective from 1 April 2005 which has since been withdrdwn.
Centrdl Hardship and Relief Trust meets the definition of a public benefft entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise
stated in ts relevant accounting policy.
22 Going concern
The Trustees consKler that there are M material uncertainties about Charity's ability to conlinue
as a going concern.
23 Income
All irojne is recognised once the Charity has entitlement to the income. it is probable that the
i￿e will be received and the amount of income receivable can be measured reliably.
The recognition of incorne from legac￿8 is depwKlent on e*ablishing entidement, the probabilty of
receipt and the abilty to estimate with sufftient accuracy the amount receivable. Evidence of
entttlement to a legacy exists when the Charity has sufficient evidence that a gift has been left lo
them (through kn¢A¥ledge of the existence of a valid will and the death of the benefactor) and the
executor is salisfied that the property in question will not be required to satisfy claims in the estste.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair valua
of the amount receivable. which will generalty be the eX￿ted cash amount to be distributed to the
Charity, can be reliably measured.
Income tax recobErabie in relation to donatior￿ receNed urKler Gift Aid or deeds of covenant is
recognised at the time of the d{￿all(￿.
Page 12

CEKfRAL HARDSHIP AND REUEFTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Accountlng polkles (contknued)
2A Expendlture
Expenditure is rwnised once there is a legal or constructive oblgation to transfer ecorK¢mic benefit
to a third party, it is probable that a transfer of economic beneffts will be required in settlement and
the amount of the obligation can be measured reliabty. Expenditure is classified by activity. The costs
of activity are made up of the total of direct costs and shared costs, induding support costs
involved in urKlertaking each acbwty. Direct costs attributable to a single activty are allocated directly
to that actmty. Shared costs which contribute to more than one activty and support costs which are
not attrfoutable to a Sing￿ acttvity are apportioned between those activibes on a basis consistent with
the use of resour￿. Central staff costs are allocated on the basis of time spent. and depreciation
Expenditure on charitable activibes is incurred on diredly urnlertaking the activitw which further the
Charity's obiectNes. as VMII as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional. such grants being recognised as exp￿ilUre when the corKlitions attaching are
fulfilled. Grants offered subject to conditrons which have not been met at the year end are noted as
commitment, but not accrned as expenditure.
All expenditure 15 inclusive of irrecoverable VAT.
IS Foreign currencles
Monetsry assets and liabilities d￿oMinated in fown currencies are translated into sterling at rates
of exchange ruling al ts reporting date.
TranSaCti￿S in foreign currencies are translated into sterling at the rate ruling on the date of the
Exchange gains and losses are recognised in the Statement of Financial Activities.
2.8 Taxallon
The Charity is exempt from income tax as a registered charity on ts income and gains where these
fall into one of the charitable exern￿ns and are spent on ts charitable purposes.
17 Tanglble fixed assets and deprecktlon
Tangible fixed assets are initially recognised at (y)st. After rwnilion, under Ihe cost m¢)del, tangible
fixed assets a￿ measured at cost less accumulated depreciatK>n and any accumulated impairment
losses. Al ¢osts incurred to bring a tsngible f￿1 asset inlo ts intended w0￿1ng condiknon should ba
included in the rneasur￿￿nt of cosL
At each reporting date the Charity a&sesses whether there is any indication of impaimient. If such
indication exists. the recoverable amount of the asset is determined to be the higher of its fair value
less costs to sell and its value in use. An imparment loss is recognised where the carrying amount
exceeds the recoverable amounL
Page 13

CETrifRAL HARDSHIP AND REUEF TRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 30 JUNE 2024
Accountlng poticles (continued)
Z7 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allcKate cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the follcMing bas
Freehokl pmp
2% straight fine
Land is not d￿)r￿ed.
Trade and oiher deblors are recognised at the SdtIern￿ amount after any trade discount offered.
Prepayments are valued at the arN)unt prepaid rEt of any trade discounts due.
19 Concesslonary loans
Concessionary loans are made to advance the tharitable purposes for the benefrt of the Charitys
beneficiaries. Concessionary loans repayable on demand or within one year are recognised at the
amount paid and loans repayable in more than one year are recognised at the amount paKI. Interest
is recorded when li is r￿1ved.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-temi hvJhty liqu￿ Investments wlth a short maturity
of three months or less from the date of acquisitron or opening of the deposit or similar account.
111 Llabllltles and prov&lons
Liabilities are recognised whn there is an obligatton at the Balance Sheet date as a result of a past
event, it is probable that a transfer of econom￿ benefit will be required in setuement, and the amount
of the settlement can be estimated relHbty.
Liabilities are recognised at the amourrt that the Charity anticipates tt will pay to settle the debt or the
amount it has received as advanced payments for the goods or serrfices tt must provide.
Provisrons are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amunts. discounted at ts we4ax discount rate that refie¢ts the risks specific to the liabilty. The
um¥indlng of the discount is recognised in the Stat&rent of Financial Activities as a finance cost.
2.12 Fknanclal instruments
The Charity onty has financial assets and financial liabilities of a kind Ihat qualify as basic financial
instruments. Basic financial instruments are initialty recognised at transaction value and subsequently
measured at their Settl￿nent value with the exception of bank loans which are subsequently
measured at arnortised cost using ts effective interesl method.
Page 14

CEPffiIAL HARDSHIP AND RELIEF TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Accountlng policies (conlinued)
2.13 Fund accounth
General funds are Unrestri￿ funds which are aval￿ble for use at the discretion of the Trustees in
furtherance crf the weral objectives of the Charity and whtch have rnt deS￿nated for other
purposes.
Restricted funds are funds which we to be used in accordance with specific restriciions imposed by
donors or which have been raised by the Charity for parttcular purposes. The costs of raising and
administering such funds are charged against the specffic fund. The aim and use of each restricted
fund is set out in the notes to the financpl Statements.
Income from donatlons and legacle8
Total
funds
2024
fiinds
2024
Donatt(Th & gifts
HM Revenue & Custiyns tax weclawned
1.570,885
1￿0,885
8.055
1,578.940
1,578.940
Total
funds
2023
funds
2Q23
Donations & gifts
Legaaes
HM Re¥￿ue & Customs tax r*Dned
540,502
540.502
10.615
10.615
552.117
55Z117
Page15

CEKfRAL HARDSHJPAND REUEF TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Incorno from other tradlng actlvltlgs
Unrestrlcted
funds
2024
funds
2024
Rent income
1.287
Total
lunds
2023
fvnds
Rent income
Profiton exchange rate fluct￿tIonS
Profft on sale of fwl assets
1,404
32,291
23,508
32291
23,
57,203
57,203
Invegtment Income
Unrestrlcted
furK
2024
Total
funds
2024
Investment income
7.612
7,612
funds
2023
funds
2023
Investment income
19.202
19.202
P4e 16

CENTRAL HARDSHIP AND REUEF TRUST
NOTES TOTHE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 30 JUNE 2024
Anatysls of grdnts
Grants to Grants to
Instiiutsons Individuals
2024
2024
Total
funds
2024
Grants. Reliefof Povaty
1.615.817
1,655.617
Grants to
Grnnts to
Instslutsons IndivKluats
123
2Lr23
Total
fvnds
2023
Grants. Relief of Pov
79.820
1.535.268
1.615,088
Of the total grants £NIL was made from restricted furKls (2023: £61.128).
The Charity has made the folknving grants to instiiuiions during the year.
2023
Name of Instltu
Jamaica PovertyTrust
11 Piccollo
61,126
18.694
40,000
Anaty8i8 of expendlture by aclmtles
Grant
funding of
actfvtths
Support
Total
funds
2024
Rel￿1 of Poverty
1,655.617
127,271
1.782M88
Page 17

CEPMIAL HARDSHIPAND REUEFTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Analysts of expondlture by activiti•s (continued)
rundmg of
activities
Total
fvnds
2023
2023
Relief of Povety
1,614088
8&233
1. 701.321
Anatysls of support costs
fun(
2024
funds
2023
Support costs
Audit fees
Accountancy fees
Professional and Admin fees
Firkgnce costs
Dw)reciation
Loss on disposal of fixed assets
10.937
12.120
7.100
124.318
3.161
130,5101
145
10.470
4.575
44.476
751
21.404
127271
86.233
Audltorfs remunernllon
2ir23
Fees payable to the Charivs audiknfor the a￿lIt of the Charit￿$ annual
accounts
11120
10.470
Staff costs
There were no empbyees ofthe Charity during the year (2023: None).
Page 18

CEKfRAL HARDSHIP AND REUEF TRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 30 JUNE 2024
Staff costs (contlnued)
No empbyee received remuneration ￿lUntIng to more than £60.1)00 in eitheryear.
10.
During the year, no Trustees received any remuneraiTh orother beneffts (2023- £NIL).
During the year ended 30 June 2024, no Trustee expenses have been incurred (2023- £NILJ.
11. Tangibl•￿ed assets
Freehold
property equipment
Cost orvaluation
At 1 July 2023
Addrlions
Disposals
1,050,463
513.458
1,350
1,051,813
513,468
{1,350)
<1,350)
At 30 June 21r24
1,563,921
1.563.921
D8preclallon
At 1 July 2023
Chavje forthe year
On disposals
140W7
(30%10)
141,602
(30,510)
11.206)
11205)
At 30 June 2024
109
109,887
Net book value
At 30 June 2024
1 864,034
1 h54,034
At 30 June 2023
910,066
145
910,211
These are all held in unrestricted funds.
Page 19

CENfRAL HARDSHIP AND REUEF TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
11 Debtars
2024
2023
Due after more than one year
1,726.603
1.658.026
2ff23
Due wlthln one year
Loans made to beneficiaries
Loans to d)aritable Trusts
331.391
427.867
349. 128
8,223
2,3
642.252
785.218
These are all held in unrestricted fvnds.
13. Credttors: Amounts falllng du• wtthln on• y
2024
2023
Other loans
366,521
Accruafs and deferred incon
69.740
23,225
895,719
23,725
These are all held in unrestricknj funds.
Page 20

CEp¥fRAL HARDSHIP AND REUEF TRUST
NOTES TOTHE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 30 JUNE 2024
14 Slatement of fvn
Statement of funds- current year
Balance at
30 June
2024
Balan￿ at 1
Juty 2023
Income Expendltur•
Genwal Fund
3.752.341
1.587M39 (1.782,888) 3.557,292
Balance at
30 June
2024
Balance at 1
Juty 2023
Income Exp8nditure
Restrlctod funds
Jamatca
28.933
Total of funds
3.781274
1W7,839 (1,782,888) 3,586,225
Page 21

CEKfRAL HARDSHIPAND REUEF TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
14. Statement of funds Icontlnued)
Statement of funds- prlor y
Balance 8t
30 Jun8
2023
Unrestrlctad funds
General Fund
4.764,014
628,522 (1,640,195) 3.752,341
Restrlct•d funds
Jamatca
(61. 126)
2a933
Total of funds
4.854.073
628.522 (1, 701.321)
3. 781,274
The Jamaican Fund represents donati￿ received from all over the worfd to assist with the charitable
needs in Jamaica.
1& Summary offunds
Summary of funds - current year
Balance at
30 June
2024
Balance at 1
Juty 21f23
Income Expenditure
General fvnds
Restricted funds
3.752.341
1A87.839 11.782.888)
3.557.292
3.781,274
1W7,839 I1,782￿88) 3,586225
Page 22

CEKfRAL HARDSHIPAND REUEFTRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 30 JUNE 2024
15. Summary offunds (continued)
Summary of funds- PrforY￿r
Balance at
30 June
2023
lJuly2(r22 Incm EX￿
General funds
Restrtcted funds
4.764.014
624522 (1,640,195) 3, 752,341
(61.126)
2a933
4.854.073
624522 (1,701.321) 3,781.274
16. Anatysls of net assets betvmen funds
Analysls of net assets bel*wn funds.current perfod
Unrestrlcted Restrlcted
funds
2024
Total
funds
2024
Tangible fixed assets
Debt<)rs due after morethan one year
Cuffent assets
Creditors due within one year
1.454,034
1.726,603
1,272,375
(895.719)
1N54,034
1.7%,603
1.301,308
1895.719)
28,933
Total
3.557,293
28.933
3,588,226
Anatysls of net assets bet￿n funds. prfor perknd
UnrnstiKted Restsicted
funds
2023
Total
fvnds
2023
2023
Tangible fixed assets
Debtors due after mfft than one year
Current assets
Creditors due within one y
910.211
1.658.026
1.207.329
(21225)
910.211
1.658,026
1,236,262
(23.225)
28,933
Total
3.752,341
28,933
3,781.274
Page 23

CEPffiIAL HARDSHIP AND REUEF TRUST
NOTES TO THE FINANCIAL sTATEME￿rs
FOR THE YEAR ENDED 30 JUNE 2024
17. Reconclllatlon of net movement In funds to net cash flow from operating activltles
2024
2023
Net expenditure for the period (as per Statanenl of Financial Aclivitts)
(195,049) (1.072.799)
Adjuslments for.
Depreciation charges
DividerKls, interests and rents from investments
Lossl(profft) on the sale of fixed assets
130.510)
fl.612)
21.404
(19.202)
(23.508)
Increasel(decrease} in credi
4131136
(72,832)
Net cash provtded byllused In) operatlng actSvltl88
200,399 (1.133,843)
Analysls of cash and cash equlvalents
2023
Cash in hand
659,055
451.044
Total cash and cash equlvalents
659.055
451,044
19. Analysls of changes in net debt
At 1 July
2023 Cash llows
At 30 June
2024
Cash at bank and in hand
Debt due within 1
451,045
208.011
659,056
(366,621) {366,521)
4S1
{158,510)
292,535
Contlngent Ilabllltles
There were no contingent liabiW or commitments at the end of the year (2023: None).
Page 24

CEKfRAL HARDSHIP AND REUEF TRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 30 JUNE 2024
21. Related party transactlons
Loans and grants to related parties are on the same tenns as those to unGonnected parties.
Controlllng Party
The Charity was under the control of the Tnislees during the year.
Page 25