COMPANY REGISTRATION NUMBER: N1042978
CHARITY REGISTRATION NUMBER: XR22318
Hanwood Trust Company Limlted
Company Limited by Guarantee
Financial Statements
31 March 2023

Hanwood Trust Company Limited
Company Limited by Guarantee
Financial Ststements
Year ended 31 March 2023
Pago
Trustees, annual report (incorporating the director's report)
Independent auditor's report to the members
Statement of financial activities (including income and
expenditure account)
Statement of financial position
10
11
Notes to the financial statements
12

Page 1
Hanwood Trust Company Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
The trustees, who are also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 March 2023.
Roference and admlnlstratlv8 detalls
Reglstered charlty name
Hanwood Trust Company Limited
Charlty rogl8tratlon number
Company regl8tratlon number N1042978
Prlnclpal offlce and regl8tered Hanwood Centre Kinr088 Avenue
offlco
Tullycamet
Belfast
Antrim
BT5 7GE
XR22318
The tru8tee•
MrHKDFlynn
Mr S Douglas
Mr J White
Mr P Carland
MrBRea
Mrs C Birch
Mr J Blrch
Company secretary
Mrs C BlrGh
Audltor
Johnston Graham Limited
Chartered accountants & statutory audltor
2161218 Holywo¢)d Road
Belfast
BT41PD
Structure, governance and management
Govemance of the Charlty
The charity is controlled by its governing document, a deed of trust, and constltutes a limited
company, limited by guarantee, as defined by the Companies Act 2006.
Related parties
Belfast City Council is a related party of Hanwood Trust Company Limited by virtue of lease
agreements which exist be￿een Belfast City Council and the company on land and premises at
Kinross Avenue, Tullycarnet.
Risk management
The directors have assessed the major risks to which the charity is exposed, in particular those related
to the operations and fInan￿S of the charity, and are satisfied that the systems are in place to mitigate
any exposure to the major risks.

Page 2
Hanwood Trust Company Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnued)
Yaar ended 31 March 2023
Objectlves and actlvltles
The objectives of the company as stated in the Memorandum of Association are the promotlon for the
public benefr't of rural or urban regeneration and advancement of community development in areas of
economic, physical and social deprivation and in particular, Tullycarnet by all or any of the following
means:
The relief of poverty in such ways as may be thought fit
The relief of unemployment in such ways as may be thought fit, including assistance to find
employment.
The advancement of education, trainlng or retraining, particularly among unemployed people and
providing unemployed peopl8 with work experlance.
The provision of finanGSal 8SSiStance, technical assistance or business advice or consultancy in order
to provide training and employment opportunities for unemployed people In cases of financial or other
charity need through help., (i)in setting up their own busine88 (ii)to existing business88
The creation of training and employment opportunltles by the provlslon of work space, buildings
andlor land for use In favourable terms;
- The malntenance, improvement or provislon of public amenities.,
The advancement of amateur sport and the provision or assistance In the provlslon of recreatlonal
facilities for the public at large or those who by reason of their youth, age, ill-health or disability,
financlal hardship or social and economic circumstances, have need of such facilit168',
The preservation and protection of health;
- The advancement of community development.,
The promotlon of rellglous and raclal harmony and equality and diversity and
Such other means as may from time to time de determined subject to the prlor wrltten consent of the
Charity Commlssion for Norther Ireland.
In support of these objectives, each year the company makes in klnd donations In support of
community health initiatives and room hire. During the year ended 31 March 2023, the value of these
haritable donations amounted to £43,000.

Page 3
Hanwood Trust Company Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorf8 Report) (Gonllnued)
Year ended 31 March 2023
Achlevements and performance
Our last AGM was held on June 8th, 2022. At that meeting, we discussed how we had all emerged
from the pandemic and were on the road to normality. The Hanwood Trust Board supported our
tenants by reducing their rent by 500/0 and 25 % during various stages of total and partial lockdown.
This helped us retain all of our tenants during that unprecedented time. However, with the rising costs
of fuel, energy, rates, and living expenses, we face even greater challenges. We need to be prepared
to spring into action with innovative financial and non-financial ideas to assist the community, tenants,
and customers.
FUNDING
We contlnue to apply for funding, but it's becoming increasingly difficult 8S the avallable funding Is
Ilmited, and the number of applicants has Increased. Nevertheless, we have be8n successful in
securing various sources of funding for program delivery. The Trust does not generate any profit from
funding packages. However, the finance provided enables us to run programs and services for local
people.
The Community Fund, whlch was set up to support communlty groups in the area with funding, has
been hlghly successful. It has assisted local groups with food parcels, events, and emergency funds.
Also durlng the last financial period the Board of the Hanwood Trust have introduced a Communlty
Fund to asslst community groups In the area with funding if needed. The fund is set up and managed
by the Hanwood Trust and 50Yo of any surplus made in a financial year (up to £5000) wlll go back into
the local community after application appraisal and submission to the Trust from Tullycarnet
Community Collective.
PHASE 1 (Maln Building) and PHASE 3 (Sports Pitch and Gym)
The football pitch Is now operating at full capacity, wlth the local Tullycarnet team occupying more
slots due to their increased numb8rs. This is a posltlve development for the IoGal community and th6
Ghildren and adults involved with the team.
Unfortunately, we lost the Football Academy this year due to lower enrolment numbers and
restructuring of thelr organlsation.
There has been a steady increase In fitness suite membership numbers each month, and we now
have nearly 200 members per month. This is 8 signlficant Improvement from last year, when we had
double-digit numbers at some stages,
PHASE 2
Phase 2 of the Hanwood Business Park is currently 1000h occupied. Unfortunately, we lost one of our
long-term tenants, Belfast Music, who had been with us for 13 years. However, another tenant, whose
business is expanding, has taken up their two units. The rising costs of fuel. transportation, and living
expenses, as well as Brexit, continue to affect our tenants and I feel the Hanwood Board should
continue to explore ways to assist our tenants during this uncertain period.
PHASE 4
Phase 4 is operating smoothly, and the Henderson's Group run a different operation than the smaller
independent owners. However, they are up to date on all payments.

Page 4
Hanwood Trust Company Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj
Year ended 31 March 2023
The Hanwood Board members and staff work tirelessly to ensure the sustainability of the Hanwood
development. It's incredible to think that a piece of wasta ground now accommodates 30 buslnesses
and a sports complex, employing 176 people.
Our most significant challenge in the immediate future is the ongolng price increases that may
eventually affect our tenants and their customers. As a Board, we are prepared to assist our tenants,
customers, and community when necessary.
Flnanclal revlow
Income for the year totalled £284,517 Includlng £92,793 received as grant Income. Total expendlture
on charltable activities was £380,932 giving an overall deficit of £99,803 for the financial year.
InGluded within the deficit is £99,803 of depreciation relatlng to the property whlch has been Included
In the accounts as restrlcted funds. The company showed a small surplus of £3,389 for the year
relating to Its unrestrlcted funds.
ReseNes pollcy
The Gharlty's pollcy Is to retaln a level of reseNes, which matches the needs of the organisatlon both
at the current tlme and In the foreseeable future. The trustees have determined that it would be
appropriate for the charity to hold a minimum unrestrlcted equlvalent to 6 months total operating costs
and will continue to monltor compllance wlth thls pollcy on a regular basls and review the
appropriateness of the pollcy annually.
TrusteO8' responslbllltles Statement
The trustees, who are also directors ft)r the purp08es of company law, are responslble for preparlng
the trustees, report and the financial statements In accordance with appllcable law and Unlted
Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice).
Company law requlres the charlty trustees to prepare financial statements for each year whlch glve a
true and falr view of the state of affairs of the charitable company and the Incoming resources and
application of resources, including the Income and expenditure, for that period.
In preparlng these financlal statements, the trustees are requlred to..
select sultable accountlng policies and then apply them consistently;
observ6 the methods and princlples in the applicable Charlties SORP;
make judgments and accounting estimates that are reasonable and prudent.
prepare the financlal statements on the going concern basis unless it Is inapproprfate to presume
that the Gharity will continue in business.

Page 5
Hanwood Trust Company Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 March 2023
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 time the financial
position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Audftor
Each of the persons who is a trustee at the date of approval of thls report contlrms that:
so far as they are aware, there Is no relevant audit Information of which the charity's auditor is
unaware., and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audlt information and to establish that the charity's auditor Is aware of that
Information.
The auditor Is deemed to hav8 been re-appolnted In accordance with section 487 of the Companies
Act 2006.
Small company provlslon8
This report has been prepared in accordance with the provlsions applicable to companles entitled to
the small companies exemption.
The trustees, annual report was approved on 28 June 2023 and signed on behalf of the board of
trustees by..
Mrs C Blrch
Charity Secretary

Page 6
Hanwood Trust Company Limited
Company Limlted by Guarantee
Independent Auditor's Report to the Members of Hanwood Trust Company
Limited
Year ended 31 March 2023
Oplnlon
We have audited the financial statements of Hanwood Trust Company Limited (the 'charity') for the
year ended 31 March 2023 which comprise the statement of financial activities (including income and
expenditure account), statement of financial position and the related notes, including a summary of
significant accounting policies. The financial reporting framework that has been applied In their
preparation Is applicable law and United Kingdom Accounting Standards, including FRS 102 The
Financial Reporting Standard applicable In the UK and Republic of Ileland (Unlted Klngdom Generally
Accepted Accounting Practice).
In our oplnion the financial statements:
give a true and fair vlew of the state of the charity's affalrs as at 31 March 2023 and of Its
incoming resources and appllcation of resources, Including Its Sncome and expendlture, for the
year then ended.
have been properly prepared In accordance wlth United KSngdom Generally Accepted
Accounting Practice.,
have been prepared In accordance wlth the requlrements of the Companies Act 2008.
Ba818 for oplnlon
We conducted our audit in accordance with International Standards on Audltlng (UK) (ISAS (UK)) and
applicable law. Our responsibilities under thosa standards are further described In the audltor's
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audlt of the financial
statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilitles In accordance with these requlrements. We believe that the audit evldence we have
obtained is sufficient and approprlate to provlde a basis for our opinion.
Conclu81on8 relatlng to golng concern
In auditing the financlal statements, we have concluded that the trustees, use of the going concern
basis of accounting In the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not Identified any material uncertainties relating to
events or conditions that, individually or colSectively, may cast signiflcant doubt on the charity's ability
to continue as a going concern for a period of at least ￿e1ve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to golng concern are descrlbed
in the relevant sections of this report.

Page 7
Hanwood Trust Company Limited
Company Limited by Guarantae
Independent Auditor's Report to the Members of Hanwood Trust Company
Limited fcontinued)
Year ended 31 March 2023
Other Infomiatlon
The other infomiation comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon,
In connection with our audit of the financial statements, our responslblllty is to read the other
Information and, in doing so, considèr whether the other information is materially Inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materlally
misststed. If we identify such materlal inconslstencies or apparent material mlsstatements, we are
required to determlne whether there is a material misststement In the financial statements or a
material mlsstatement of the other information. If, based on the work we have performed, we conclude
that there Is a materlal misstatement of this other information, we are required to report that fact.
We have nothin9 to report In this regard.
Oplnlons on other matter8 prescrlbed by the Companles Act 2006
In our oplnlon, based on the work undertaken in tha course of the audlt..
the information given in the trust8es' report for the flnancial year for whlch the financial
statements are prepared Is consistent with the financial statements,. and
the trustees, report has been prepared In accordance wlth applicable legal requirements.
Matters on whlch we are requlred to report by exc8ptlon
In the Ilght of the knowledge and understanding of the Gharlty and Its environment obtained In th8
course of the audlt, we have not identified material misstatements in the trustees, report.
We have nothing to report in respect of the following matters In relation to which the Companies Act
2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not
been received from branches not vlsited by us., or
the financial statements are not in agreement with the accounting records and retums. or
certain disclosures of trustees, remuneration specified by law are not made, or
we have not received all the Information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies, exemptions in preparing the
direGtors' report and from the requirement to prepare a strategic report.

Page 8
Hanwood Trust Company Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of Hanwood Trust Company
Limited (continued)
Year ended 31 March 2023
Re8pon8ibllltles of tru8te88
As explained more fully In the trustees, responsibilities statement, the trustees (who are also the
directors for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as
the trustees determine is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial ststements, the trustees are responsible for assessing the charity's ablllty to
continue as a going concern, disclosing, as applicable, matiers related to going concern and using the
going concern basis of accounting unless the trustees either Intend to liquidate the charity or to cease
operatlons, or have no realistlc altematlve but to do so.
Audltorfs respon81bllltle8 for the audlt of the flnanclal 8tatemont8
Our objectives are to obtain r8asonabl8 assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance Is a high level of assurance, but Is not a guarantee that
an audit conducted in accordance wlth ISAS (UK) will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements,
Irregulariti88, including fraud, are Instances of non-compliance wlth laws and regulatlons. We deslgn
procedures Sn line with our responsibilities, outlined above, to detect material misstatements in respect
of irregularities, Including fraud. The extent to which our procedure8 are capable of detecting
irregularities, Including fraud is detailed below..
As part of the audit process we obtalned an understandlng of the legal and regulatory framework
applicable to the entity, being FR102, Companies Act 2006 the UK taxation regime and compliance
with regulations in relation to the Coronavirus Jobs Retention Scheme and the Coronavirus Buslness
Interruptlon Scheme. In addition, we assessed the risks of material fraud through enquires with
management and those charged with corporate governance and analytical procedures were used to
assess any unusual or or unexpected relationships. AS Wlth all organisation of this slze, there remains
an inherent difficulty In the detection of Irregularities.
A further description of our responsibilitles for the audit of financial statements Is located on the FRC'S
website at ￿w.frc.Org.Uklaudlt0rsreSponSlbllitleS
As part of an audit In accordance wlth ISAS (UK), we exercise professional judgment and maintain
professional sceptiGism throughout the audit. We also:
Identify and assess the risks of material mlsstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal control.

Page 9
Hanwood Trust Company Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of Hanwood Trust Company
Limited (contlnued)
Year anded 31 March 2023
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the approprlateness of the trustees, use of the going concem basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a going
concern, If we conclude that a material uncertainty exists, we are required to draw attention in
our auditor's report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evldence obtained
up to the date of our auditor's report. However, future events or condltions may cause the charity
to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, Including tha
disclosures, and whether the financial statements represent the underlying transactlon8 and
events In a manner that achieves fair presentation.
We communicate with those charged wlth governanc8 regardlng, among other matters, the planned
scope and timing of the audit and slgnificant audlt findlngs, Includlng any slgnificant deficlencles in
intemal control that we identify during our audlt.
U8• of our report
This report is made solely to the charlty's members, as a body, In accordance wlth Chapter 3 of Part
18 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charity's members those matters we are required to state to them in an auditor's report and ft)r no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charity and the charity's members as a body, for our audit work, for this report,
or for the opinions we have formed.
MS E MULHOLLAND (Senlor Statutory Auditor)
For and on behalf of
Johnston Graham Llmited
Chartered accountants & statutory auditor
2161218 Holywood Road
Belfast
BT41PD
28 June 2023

Page 10
Hanwood Trust Company Limited
Company Limited by Guarantee
Statement of Financial Actlvlties
(including income and expenditure account)
Year endad 31 March 2023
2023
Restricted
fund8 Total fund8 Total funds
2022
Unrestricted
funds
Note
Income and endowment8
Charitable activities
Income from other trading activities
Total Income
64,348
191,724
256,070
28,447
92,793
191,724
284,517
88,929
167,525
256,454
28,447
Expendlture
Expenditure on charitable activities
Total expendlturo
252,682
252,682
128,250
128,250
380.932
380,932
361,268
361,268
Not expendlturo and nat movomont In
fund8
3,388
(99,803)
{96,415) (104,814>
Reconclllatlon of fund8
Total funds brought forward
Total funds carrled fO￿ard
157,315
160,703
2,676,103
2,576,300
2,833,418
2,737.003
2,938,232
2,833,418
The statement of financial activltlas Includes all galns and losses recognlsed In the year.
All income and expenditure derive from contlnuing actlvlties.
The notes on paggs 12 to 18 fomi part of these flnancial ststements.

Page11
Hanwood Trust Company Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
2023
2022
Note
Flxed assets
Tangible fixed assets
13
2,582,131
2,660,184
Current asset8
Debtors
Cash at bank and in hand
14
12,162
252,048
264,210
24,891
238,825
261,716
Credltor8: amounts falllng duo wlthln one yoar
Net current a8S8t8
15
89,338
88,482
173,234
2,833,418
174,872
2,737,003
Total a880ts 1088 curront Ilabllltlas
Fund8 of the charlty
Restricted funds
Unrestricted funds
2,576,300
160,703
2,737,003
2,676,103
157,315
2,833,418
Totsl charlty fund8
16
These financial statements have been prepared in accordance wlth the provlslons appllcable to
companies subject to the small companies, reyime.
These financlal statements were approved by the board of trustees and authorised for Issue on 28
June 2023, and are signed on behalf of the board by..
MrBRea
Trustee
Mr J IA+hlte
Trustee
The notes on pages 12 to 18 forni part of theso financial statements.

Page 12
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
Goneral infomiatSon
The charity is a publlc benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is Hanwood Centre Klnross Avenue, Tullycarnet, Belfast, Antrim, BT5 7GE.
statemont of compllanco
These financial ststements have been prepared In compliance wlth FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Ststement of
Recommended Practice applicable to charities preparing their aecounts in accordance with the
Financial Reporting Standard applicable in th8 UK and Republic of Ireland {FRS 102) {Charlties
SORP (FRS 102>) and the Companies Act 2006.
Accountlng pollcles
Ba818 of praparatlon
The financial statements have been prepared on the historical cost basis, as modified by the
revaluatlon of certaln financial assets and liabllltles and investment properties measured at fair
value through Income or expenditure.
The financlal statements are prepared in sterling, which Is the functional currency of the entlty.
Golng concern
Ther8 are no materlal uncertaintles about the charity's ability to continue.
Judgement8 and key source8 of 88tlmatlon uncortalnty
Accounting estimates and assumptions are made concerning the future and, by their nature, will
rarely equal the ￿lated actual outcome. The key assumptions and other sources of estimatlon
uncertainty that have a significant risk of causing a material adjustment to the carrylng amounts
of assets and liablllties within the next financial year are as follows..
Fund accountlng
Unrestricted funds are available for use at the discretlon of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for partlcular future project or
commltment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall Into one of two sub-classes: restricted Income funds or
endowment funds.

Page 13
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Ststements (contlnuod)
Year ended 31 March 2023
Accountlng pollcles (conllnued)
Incomlng resource8
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity., it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to partlcular categories of income:
income from donations or grants is recognised when there Is evidence of entltlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when recelpt Is probable and entitlement Is establlshed.
Income from donated goods Is measured at the falr value of the goods unless this 18
Impractical to measure rellably, in whlch case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and seNices are recognlsed in the
accounts when received If the value Gan be reliably measured. No amounts are Included for
the contribution of general volunteers.
income from contracts for the supply of services Is recognlsed wlth the delivery of the
contracted service. Thls Is classified as unrestricted funds unless there is a contractual
requirement for It to be spent on a particular purpose and returned if unspent, in which case
It may be regarded as restrlcted.
R8source8 expended
Expenditure is recognlsed on an accruals basls as a liabillty is Incurred. Expendlture includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
flnancial activities to whiGh it relates.,
expenditure on raislng funds includes the costs of all fundralslng actlvltSes, events,
non-charitable trading activitles, and the sale of donated goods.
expenditure on charltable actlvltles Includes all costs incurred by a charity In undertaking
activitles that further Its charitsble aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
All fixed assets are initially recorded at cost.

Page 14
Hanwood Trust Company Limited
Company Limitsd by Guarantee
Notes to the Financial Statements (¢onllnu•d)
Year énded 31 March 2023
Accountlng pollcles (contlnued)
Dopre¢latlon
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows,.
Freehold propety
Fixtures and flttings
20/0 Straight line
20% reducing balance
Impalrment of flxed assets
A review for indicators of impairment Is carried out at each reporting date, wlth the recoverable
amount being estimated where such indicators exist. ￿ere the carrying value exceeds the
recoverable amount, the asset is impaired a￿ordinglY. Prior impairments are also reviewed for
posslble reversal at each reporting date.
For the purposes of Impalrment testing, when It is not posslble to estimate the recoverable
amount of an Individual asset, an estimate Is made of the recoverable amount of the
cash-generatlng unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business comblnatlon Is, from the
acquisltlon date, allocated to each of thè cash-generating units that are expected to benefit from
the synergies of the combination, IrrespeGtive of whether other assets or liabilities of the charity
are assigned to those unlts.
Llmltod by guarantee
The company is limited by guarantee and has no authorised or Issued share capital. The
company has charitable status accepted by the Inland Revenue under reference XR22318.
Charltable actlvltles
Unrestricted Restricted Total Fund8
Funds
Funds
2023
other funding
BCC
28,447
28,447
64,346
92,793
64,346
64,346
28,447
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Other funding
BCC
9,891
19,038
9,891
79,038
60,000
60,000
28,929
88,929

Page 15
Hanwood Trust Company Limited
Company Limited by Guarantea
Notes to the Financial Statements (continued)
Year ended 31 March 2023
Incomo from other trading actlvlties
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Other income
Room hire
Rent
Sports pitch rental
Fitness suite income
Phase 4 rental
Job Retention Scheme
503
4,806
105,099
29,069
17,147
35,100
503
4.806
105.099
29,069
17,147
35,100
191,724
191,724
Unrestrlct8d
Funds
Restricted Totsl Funds
Funds
2022
other income
Room hire
Rent
Sports pltch rental
Fltness sulte Income
Phase 4 rental
Job Retention Scheme
170
6,394
84,960
23,020
12,180
35,100
170
8,394
84,960
23,020
12,180
35,100
5,701
167,525
5,701
5,701
161,824
Expendlture on charltsble actlvltl88 by fund type
Unrestricted
Funds
Re8tricted Totsl Fund8
Funds
2023
Costs of generating funds
Property management costs
Local projects
Donations
Support costs
213,904
27,235
6,292
99,803
22,155
220.196
127,038
22,155
1,790
9,753
380,932
1,790
9,753
252,682
128,250
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Costs of generating funds
Propety management costs
Local projects
Donations
Support costs
191,829
19,242
17,437
100,294
17,193
209,266
119,536
17,193
3,150
12,123
361,268
3,150
12,123
226,344
134,924

Page 16
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2023
Expondlture on charltable actlvltles by actlvlty type
Activitie8
undertaken
directly Support costs
Total funds
2023
Total fund
2022
Costs of generating funds
Charitable activities costs
Property management costs
Local projects
Donations
Governance costs
220,196
220,196
1,220
127,038
22,155
1,790
8,533
380,932
209,266
3,878
119,536
17,193
3,150
8,245
361,268
1,220
127,038
22,155
1,790
8,533
9,753
371,179
Net expendlturo
Net expenditure Is Stated after charglngl(credltlng):
2023
2022
Depreciation of tsnglble fixed assets
99,803
101,548
10. Audltorn romuneratlon
2023
2022
Fees payable for the audit of the flnanclal statements
3,250
3,155
11. Staff co$t•
The average head count of employees during the year was 7 (2022: 7). The average number of
full-time equivalent employees during the year is analysed as follows:
2023
2022
No.
No.
Number of staff
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. Trustoe remuneratlon and expense8
No trustees received remuneration or other benefits through employment with the charity.

Page 17
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2023
13. Tanglble flxed a880ts
Land and Fixtures and
buildings
fittings
Total
C08t
At 1 April 2022
Additions
4,450,597
262,373
1,750
264,123
4,712,970
1,750
4,714,720
At 31 March 2023
4,450,597
Depreclatlon
At 1 April 2022
Charge for the year
At 31 March 2023
1,860,146
89,012
1,949,158
192,640
10,791
2,052,786
99,803
2.152,589
203,431
Carrylng amount
At 31 March 2023
2,501,439
2,590,451
60,692
2,562,131
2,660,184
At 31 March 2022
69,733
14. Debtors
2023
2022
Trade debtors
Other debtors
5,822
6,340
12.162
17,112
7,779
24,891
15. Credltors: amounts falllng due wlthln ono year
2023
2022
Trade creditors
Social security and other taxes
Other creditors
5,796
9.055
74,487
89,338
13,781
8,391
66,330
88,482

Page 18
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2023
16. Analys18 of charitable fund8
Unre8trlcted funds
At
J1 March 202
At
1 April 2022
Income Expenditure
General funds
157,315
256,070
(252,682)
160,703
At
31 March 202
At
1 April 2021
Income Expenditure
General funds
161,835
221,824
(226,344)
157,315
Re8trlcted funds
At
31 March 202
At
1 April 2022
Income Expendlture
Restrlcted Fund
2,676,103
28,447
(128,2501
2,576,300
At
31 March 202
At
1 Aprll 2021
Income Expendlture
Restricted Fund
2,776,397
34,630
(134,924) 2,676,103
17. Analy818 of net a88ets betweèn fund8
Unrestrlcted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
2,562,131
2,562,131
264,210
(89,338)
2,737,003
284,210
(89,338)
174,872
2,562,131
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
2,660,185
15,918
2,660,185
261,712
(88,483)
2,833.414
245,794
(88,483)
157,311
2,676,103