Page 11
THE HENDERSON CHARITABLE TRUST
Cash flow statement
Period ended 30 April 2025
| Period | |||
|---|---|---|---|
| from 1 Jan | |||
| 24 to 30 | Year to 31 | ||
| Apr 2025 | Dec 2023 | ||
| Note | £ | £ | |
| Cash flows from operating activities | |||
| Net incoming/(outgoing) resources | 605,290 | (149,704) | |
| Adjustments for: | |||
| Movement in creditors | (315) | (925) | |
| ----------------------------------------- | ----------------------------------------- | ||
| Cash generated from operations | 604,975 | (150,629) | |
| -------------------------------- | ----------------------------------------- | ||
| Net cash used in operating activities | 604,975 | (150,629) | |
| ================================ | ========================================= | ||
| Net increase/(decrease) in cash and cash equivalents | 604,975 | (150,629) | |
| Cash and cash equivalents at beginning of period | 89,057 | 239,686 | |
| -------------------------------- | -------------------------------- | ||
| Cash and cash equivalents at end of period | 10 | 694,032 | 89,057 |
| ================================ | ================================ |
The notes on pages 12 to 16 form part of these financial statements.
Page 12
THE HENDERSON CHARITABLE TRUST
Notes to the financial statements (continued)
Period ended 30 April 2025
1. General information
The overall aim of The Henderson Charitable Trust is to see people released from material and spiritual poverty, through granting money for the benefit of such exclusively charitable objects and purposes in any part of the world as the trustees think fit.
2. Statement of compliance
These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
3. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The entity is a Public Benefit entity as defined by FRS 102.
The financial statements are presented in sterling, which is the functional currency of the entity.
The reporting period has been extended to 30 April to align with the year end of related parties. This means that the financial statements have been prepared for a 16 month period and comparative amounts presented are not entirely comparable.
Going concern
In assessing whether the going concern assumption is appropriate, the trustees take into account all available information about the future, which is at least, but is not limited to, 12 months from the date when the financial statements are authorised for issue.
The trustees make grants out of available funds and expect to continue to receive donation income. Therefore they believe the charity will continue to operate for the foreseeable future and accordingly prepare the financial statements on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors are of the opinion that no significant judgements or accounting estimates were required in preparing the financial statements.
Page 13
THE HENDERSON CHARITABLE TRUST
Notes to the financial statements (continued)
Period ended 30 April 2025
3. Accounting policies (continued)
Donations
Donations under gift aid are accounted for, together with any related tax recoverable, at the time the gift is received.
Resources expended
Resources expended are recognised in the period in which they are incurred.
Grants, gifts and donations to other organisations and individuals are accounted for as and when approved.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the Statement of financial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
Cash and cash equivalents
Cash consists of cash at bank and in hand.
Fund accounting
The charity has one type of fund for which it is responsible, and which requires separate disclosure as follows:
Unrestricted funds
Funds which are expendable at the discretion of the committee in the furtherance of the objects of the charity. In addition, funds may be held in order to finance capital investment and working capital.
4. Employee numbers
The average number of persons employed by the charity during the year amounted to Nil (2023: Nil).
Page 14
THE HENDERSON CHARITABLE TRUST
Notes to the financial statements (continued)
Period ended 30 April 2025
5. Donations
| Donations | |||
|---|---|---|---|
| Total Funds | |||
| Period from | |||
| Unrestricted | 1 Jan 24 to | Total Funds | |
| Funds | 30 Apr 2025 | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations received | 2,350,000 | 2,350,000 | 1,703,700 |
| =============================================== | =============================================== | =============================================== |
6. Resources expended
| Total Funds | |||
|---|---|---|---|
| Period from | Total Funds | ||
| Unrestricted | 1 Jan 24 to | Year to 31 | |
| Funds | 30 Apr 2025 | Dec 2023 | |
| £ | £ | £ | |
| Direct costs | |||
| Grants for charitable purposes to institutions | 1,727,480 | 1,727,480 | 1,840,040 |
| Grants for charitable purposes to individuals | |||
| ---------------------------------------------------- | ---------------------------------------------------- | ---------------------------------------------------- | |
| 1,727,480 | 1,727,480 | 1,840,040 | |
| ==================================================== | ==================================================== | ==================================================== | |
| Support costs | |||
| Governance costs | 7,750 | 7,750 | 13,277 |
| Bank charges | 119 | 119 | 86 |
| Travel expenses | 9,361 | 9,361 | |
| ---------------------------------------------------- | ---------------------------------------------------- | ---------------------------------------------------- | |
| 17,230 | 17,230 | 13,364 | |
| ---------------------------------------------------- | ---------------------------------------------------- | ---------------------------------------------------- | |
| 1,744,710 | 1,744,710 | 1,853,404 | |
| ==================================================== | ==================================================== | ==================================================== |
7.
remuneration constituted an audit fee of £3,750 (2023: £3,000) and additional tax compliance services of £1,825 (2023: £3,075) and other non-audit services of £1,250 (2023: £1,000).
8. Staff costs and emoluments
No salaries or wages have been paid to employees, including the trustees, during the year.
Trustee expenses of £9,361 (2023: £Nil) have been reimbursed to 1 trustee (2023: none) in relation to travel and subsistence costs properly incurred in fulfilling their duties.
9. Taxation
The trust is considered by HM Revenue and Customs as a charity within the meaning of Part 11 of the Corporation Tax Act 2010. No taxation is therefore payable by the trust.
Page 15
THE HENDERSON CHARITABLE TRUST
Notes to the financial statements (continued)
Period ended 30 April 2025
10. Cash and cash equivalents
| 30 Apr | 31 Dec | ||
|---|---|---|---|
| 2025 | 2023 | ||
| £ | £ | ||
| Cash at bank | 694,032 | 89,057 | |
| =============================== | =============================== | ||
| 11. | Creditors: amounts falling due within one year | ||
| 30 Apr | 31 Dec | ||
| 2025 | 2023 | ||
| £ | £ | ||
| Accruals | 8,600 | 8,915 | |
| =============================== | =============================== |
12. Grants
Grants were made to fifteen (2023: fifteen) institutions throughout the year.
| Institutions receiving material grants are: | |
|---|---|
| A Call to Business - Rogbere | £100,000 |
| Biblica Europe | £244,987 |
| CAP | £50,000 |
| CBM | £80,000 |
| E3 | £250,000 |
| Fields of Life | £80,000 |
| Frontiers | £80,000 |
| Habitat for Humanity | £50,000 |
| Open Doors | £100,000 |
| Prison Fellowship International | £400,020 |
| Salvation Army | £50,000 |
| SAT-7 | £100,000 |
| Sightsavers | £40,000 |
| Tear Fund | £100,000 |
Grants can be split into the following categories of charitable purpose:
The prevention or relief of poverty The advancement of health or saving of lives
13. Unrestricted income funds
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 1 Jan 24 | resources | resources | 30 Apr 25 | |
| £ | £ | £ | £ | |
| General Funds | 80,142 | 2,350,000 | (1,744,710) | 685,432 |
| ==================================================== | =============================================== | =============================================== | ==================================================== |
Restricted income funds
For the period ended 30 April 2025 the charity had £Nil (2023: £Nil) restricted income funds.
Page 16
THE HENDERSON CHARITABLE TRUST
Notes to the financial statements (continued)
Period ended 30 April 2025
14. Analysis of net assets between funds
| Net current | ||
|---|---|---|
| assets | Total | |
| £ | £ | |
| Unrestricted Income Funds | 685,432 | 685,432 |
| ------------------------------------ | ---------------------------------------------------- | |
| Total Funds | 685,432 ==================================== |
685,432 ==================================================== |
15. Related party transactions
One of the trustees is a director of Tobermore Holdings Limited. This company made donations of £2,350,000 (2023: £1,500,000) to The Henderson Charitable Trust.
One of the trustees made donations of £Nil (2023: £250,050) to the trust.
Key management personnel include all the trustees of the charity who hold authority and responsibility for planning, directing and controlling the activities of the charity.
During the year no trustees received any remuneration (2023: £Nil).
No other transactions with related parties were undertaken such as are required to be disclosed.