COMPANY REGISTRATION NUMBER: N1042978
CHARITY REGISTRATION NUMBER: 107303
Hanwood Trust Company Limited
Company Limited by Guarantee
Financial Statements
31 March 2024

Hanwood Trust Company Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees, annual report (incorporating the director's report)
Independent auditorfs report to the members
Statement of financial activities (including income and
expenditure account)
10
statement of financial position
11
Notes to the financial statements
12

Page 1
Hanwood Trust Company Limited
Cornpany Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report)
Year ended 31 March 2024
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 2024.
Reference and administrative details
Registered charity name
Hanwood Trust Company Limited
Charity registration number
107303
Company registration number N1042978
Principal office and registered Hanwood Centre Kinross Avenue
office
Tullycarnet
Belfast
Antrim
BT5 7GE
The trustees
MrHKDFlynn
Mr S Douglas
Mr J White
Mr P Carland
MrBRea
Mrs C Birch
Mr J Birch
Mr GT Dorrian
(Died 18 April 2024)
(Appointed 9 May 2024)
Company secretsry
Mrs C Birch
Auditor
Johnston Graham Limited
Chartered accountants & statutory auditor
2161218 Holywood Road
Belfast
BT41PD
Structure, govemance and management
Govemance of the Charity
The charity is controlled by its goveming document, a deed of trust, and constitutes 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 finances 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) {c¢)ntinue¢¥
Year ended 31 March 2024
Objectives and activities
The objectives of the company as stated in the Memorandum of Association are the promotion for the
public benefit 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
- 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, training or retraining, particularly among unemployed people and
providing unemployed people with work experience.
The provision of financial assistance, 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 business (ii)to existing businesses
The creation of training and employment opportunities by the provision of work space, buildings
andlor land for use in favourable tems-
- The maintenance, improvement or provision of public amenities-
The advancement of amateur sport and the provision or assistance in the provision of recreational
facilities for the public at large or those who by reason of their youth, age, ill-health or disability.
financial hardship or social and economic circumstances, have need of such facilities.,
- The preservation and protection of health.,
- The advan￿ment of community development.,
The promotion of religious and racial harmony and equalty and diversity and
Such other means as may from time to time de determined subject to the prior written consent of the
Charity Commission for Norther Ireland.
In support of these objectives, each year the company makes in kind donations in support of
community health initiatives and room hire. During the year ended 31 March 2024, the value of these
charitable donations amounted to £43,000.

Page 3
Hanwood Trust Company Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Achievements and performance
Our Last AGM was held on 28th June 2023. At that meeting we discussed the challenges faced by the
company with the rising costs of fuel, energy, rates and living expenses and how we needed to be
prepared to spring into action with innovative financial and non financial ideas to assist the community,
tenants, and customers.
FUNDING
We continue to apply for funding but it is becoming increasingly difficult as the number of applicants
has increased. Nevertheless we have been 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.
A Community Fund, introduced by the Board of the Hanwood Trust in the 2023 year, has been
successful in assisting community groups in the area with funding if needed. The fund 15 managed by
the Hanwood Trust and 50 % of any surplus made in a financial year (up to £5,000) will go back into
the local community after application appraisal and submission to the Trust from Tulycarnet
Communty Collective.
PHASE 1 (Main Building) and PHASE 3 (Sports Pitch and Gym)
The football pitch is operating at full capacity with the local Tullycarnet team occupying more slots due
to their increased numbers. This is a positive development for the local community and the children
and adults involved with the team.
There has been an increase in fitness suite membership numbers again this year with over 200
members per month
PHASE 2
Phase 2 of the Hanwood Business Park is still 1000/0 occupied.
PHASE 4
Phase 4 is opearing smootly and the Henderson Group run a different operation than the smaller
independent owners.
The Hanwood Board members and staff work tirelessly to ensure the sustainabilty of the Hanwood
development. It is incredible to think that a piece of waste ground now accomodates 30 businesses
and a sports complex, employing 176 people.
Our most significant challenge continues to be ongoing price increases that affect our tenants and thie
customers. As a Board we are prepared to assist our tenants, customers and communty when
necessary.
My thanks once again to the Community Board and the Staff for their commitment and hard work
during what has been a most challenging year.

Page 4
Hanwood Trust Company Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 March 2024
Financial review
Income for the year totalled £336,189 including £56,173 received as grant income. Total expenditure
on charitable activities was £420,850 giving an overall deficit of £84,661 for the financial year.
Included within the deficit is £97,992 of depreciation relating to the propety which has been included
in the accounts as restricted funds. The company showed a surplus of £4,021 for the year relating to
its unrestricted funds.
Reserves policy
The charity's policy is to retain a level of reserves, which matches the needs of the organisation both
at the current time and in the foreseeable future. The Trustees have detemiined that it would be
appropriate for the charity to hold a minimum unrestricted reserve equivalent to 6 months total
operating costs and will continue to monitor compliance with this policy on a regular basis and review
the appropriateness of the policy annually.
Trustees, responsibilities statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing
the trustees. report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charty tnjstees to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming reSoUr￿S and
application of resources, including the income and expenditure, for that 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 in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern 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 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.

Page 5
Hanwood Trust Company Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Auditor
Each of the persons who is a trustee at the date of approval of this report confinns 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 audit infomiation and to establish that the Charity's auditor is aware of that
information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies
Act 2006.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to
the small companies exemption.
The trustees. annual report was approved on 19 June 2024 and signed on behalf of the board of
trustees by:
Mrs C Birch
Charty Secretary

Page 6
Hanwood Trust Company Limited
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Hanwood Trust Company
Limited
Year ended 31 March 2024
Opinion
We have audited the financial statements of Hanwood Trust Company Limited (the 'charty') for the
year ended 31 March 2024 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 Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its
incoming reSoUr￿S and application of resources, including its income and expenditure, for the
year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Stsndards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the auditor'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 audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial 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 perfomied, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's ability
to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described
in the relevant sections of this report.

Page 7
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 2024
Other infomiation
The other information comprises the infomiation 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
othewise 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 responsibility is to read the other
infomation and. in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appear5 to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to detennine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. If, based on the work we have perfomied, we conclude
that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audtt:
the information given in the trustees, report for the financial year for which the financial
statements are prepared is consistent with the financial statements., and
the trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the
course of the audit, 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 visited by us., or
the financial statements are not in agreement with the accounting records and returns- 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
directors, report and from the requirement to prepare a strategic report.

Page 8
Hanwood Trust Company Limited
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Hanwood Trust Company
Limited (continued)
Year ended 31 March 2024
Responsibilities of trustees
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 intemal 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 statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no realistic altemative but to do so.
Auditor's responsibilities for the audit of the financial ststements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misststement, whether due to fraud or error, and to issue an auditorfs report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that
an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material rf, 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below=
As part of the audit process we obtained an understanding 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 Business
Interruption Scheme. In addition, we assessed the risks of material fraud through enquires with
management and those charged with corporate govemance and analytical procedures were used to
assess any unusual or or unexpected relationships. As with all organisation of this size, there remains
an inherent difficulty in the detection of irregularities.
A further description of our responsibilities for the audit of financial statements is located on the FRC'S
website at www.frc.org.uklauditorsresponsibilities
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement 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 intemal 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 effecttveness 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 (continued)
Year ended 31 March 2024
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going COn￿M basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or Ccsnditions that may cast significant doubt on the charitWs ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditorfs report to the related disclosures in the financial statements or, rf such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our audttor's report. However, future events or conditions may cause the charty
to cease to continue as a going concern.
Evaluate the overall presentstion. structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with govemance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
Use of our report
This report is made solely to the charty's members. as a body, in accordan￿ with Chapter 3 of Part
16 of the Companies 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 auditorfs report and for no
other purpose. To the fullest extent permitted by law, we do not ac￿pt 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 fomed.
MS E MULHOLLAND (Senior Statutory Auditor)
For and on behalf of
Johnston Graham Limited
Chartered accountants & statuiory auditor
2161218 Holywood Road
Belfast
BT4 1PD
19 June 2024

Page 10
Hanwood Trust Company Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted
funds Total funds Totsl funds
2023
Unrestricted
funds
Note
Income and endowments
Donations
Charitable activities
Income from other trading activities
Total income
10,388
56,173
10,388
127,316
198,485
336,189
71,143
198,485
92,793
191,724
269,628
68,561
284,517
Expenditure
Expendlture on charitable activities
Totsl expenditure
265,607
155,243
420,850
380,932
265,607
155,243
420,850
380,932
Net expenditure and net movement in
funds
4,021
(88,682)
(84,661)
(96,415)
Reconciliation of funds
Total funds brought forward
Total funds carried foThMrd
160,703
2,576,300
2.737,003
2.833,418
2,737,003
164,724
2,487,618
2.652,342
The statement of financial activtties includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 12 to 18 forni part of these financial ststements.

Page 11
Hanwood Trust Company Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
Fixed assets
Tangible f￿ed assets
14
2.464,139
2,562,131
Current assets
Debtors
Cash at bank and in hand
15
16.116
244.132
12,162
252,048
264,210
260,248
Creditors: amounts falling due within one year
Net current assets
16
72.045
89,338
174,872
188,203
2.652,342
Total assets less current liabilities
2,737,003
Funds of the charity
Restricted funds
Unrestricted funds
2.487,618
164,724
2,576,300
160,703
Total charity funds
17
2.652,342
2,737,003
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 19
June 2024, and are signed on behalf of the board by..
MrBRea
Trustee
The notes on pages 12 to 18 form part of these financial statements.

Page 12
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General infomation
The charty is a public benefft 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 Kinross Avenue, Tullycarnet, Belfast, Antrim, BT5 7GE.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland., the 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) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumption5 are made concerning the future and, by their nature, will
rarely equal the related actual outcome. The key assumptions and other sources of estimation
uncertainty that have a significant risk of causing a material adjustment to the carrying amounts
of assets and liabilities within the nexi financial year are as follows:
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
Commitment.
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 Statements (continued)
Year ended 31 March 2024
Accounting policies (continued)
Incoming resources
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 particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the
grft, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably. in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and seNices are recognised in the
accounts when received rf the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted seNice. This 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 restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates=
expenditure on raising funds includes the costs of all fundraising activities, events,
non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable 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 expend¢ture that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expendrture categories reflecting the use of the resource. Direct costs
attributable to a single activty are allocated directly to that activity. Shared costs are apportioned
between 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 Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Accounting policies (continued)
Depreciation
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 property
Fixtures and fittings
2 % straight line
20 % reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. ￿ere the carrying value eX￿edS the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identlfiable 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 combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Limited 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.
Donations
Restricted Total Funds
Funds
2024
Restricted Total Funds
Funds
2023
Donations
Donations
10,388
10.388
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Other funding
BCC
56,173
56.173
71.143
71,143
71,143
56,173
127,316

Page 15
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Charitable activities (continued)
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Other funding
BCC
28,447
28,447
64,346
64,346
64,346
28,447
92,793
Income from other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Other income
Room hire
Rent
Sports pitch rental
Fitness suite income
Phase 4 rental
6,590
2,682
105,691
29,289
19,133
35,100
6,590
2.682
105,691
29.289
19.133
35,100
198,485
503
4,806
105,099
29,069
17,147
35,100
503
4,806
105.099
29,069
17,147
35,100
198,485
191,724
191,724
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Costs of generating funds
Property management costs
Local projects
Donations
Support costs
234,158
22,601
1,419
967
6,462
234,158
120,593
58,670
967
6,462
97,992
57,251
265,607
155,243
420,850
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Costs of generating funds
Property management costs
Local projects
Donations
Support costs
216,724
27,235
6,292
99,803
22,155
223,016
127.038
22,155
1,790
6,933
1,790
6,933
252,682
128,250
380,932

Page 16
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2024
Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Totsl funds
2024
Total fund
2023
Costs of generating funds
Charitable activities costs
Property management costs
Local projects
Donations
Governance costs
234,158
234,1 $8
850
120,593
58,670
967
6,612
223,016
1,220
127,038
22,155
1,790
5,713
850
120,593
58,670
967
5,612
6,462
414,388
420,850
380,932
10. Net expenditure
Net expenditure is stated after chargingl(crediting)-
2024
2023
Dep￿CiatIon of tangible fsxed assets
97,992
99,803
11. Auditors remuneration
2024
2023
Fees payable for the audit of the financial statements
3,290
3,250
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows=
2024
2023
Wages and salaries
Socia5 security costs
187,159
8,332
195,491
169,049
4,580
173,629
The average head count of employees during the year was 9 (2023: 8). The average number of
full-time equivalent employees during the year is analysed as follows=
2024
No.
2023
Number of staff
No employee received employee benefits of more than £60,000 during the year (2023: Nil)-
13. Trustee remuneration and expenses
No trustees received remuneration or other benefits through employment with the charty.

Page 17
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
14. Tangible fixed assets
Land and Fixtures and
buildings
fittings
Total
Cost
At 1 April 2023 and 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
4,450,597
264,123
4,714.720
1,949,158
89,012
203.431
8.980
2,152,589
97.992
2,038,170
212.411
2,250,581
Carrying amount
At 31 March 2024
2,412,427
51,712
2,464,139
2,562.131
At 31 March 2023
2,501,439
60,692
15. Debtors
2024
2023
Trade debtors
other debtors
5,982
10,134
5,822
6,340
16,116
12,162
16. Creditors: amounts falling due within one year
2024
2023
Trade credttors
Social security and other taxes
Other creditors
4,682
7,393
59,970
5,796
9,055
74,487
72,045
89,338
17. Analysis of charitable funds
Unrestricted funds
At
31 Ma￿h 202
At
1 April 2023
Income Expenditure
General funds
160,703
269,628
(265,607)
164,724
At
31 March 202
At
1 April 2022
Income Expenditure
General funds
157,315
256,070
(252,682)
160,703

Page 18
Hanwood Trust Company Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
17. Analysis of charitable funds (continued)
Restricted funds
At
31 March 202
At
1 April 2023
Income Expenditure
Restricted Fund
2,576,300
66,561
(155,243) 2A87,618
At
31 March 202
At
1 April 2022
Income Expenditure
Restricted Fund
2,676,103
28,447
(128,250) 2,576,300
18. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
2,464,139
2,464,139
260,248
172,045)
2,652,342
260,248
(72,045)
188,203
2,464,139
Unrestricted
Funds
Restricted Totsl 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
264,210
(89,338)
174,872
2,562,131