REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
THE HAMBLIN TRUST |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
THE HAMBLIN TRUST |
(A COMPANY LIMITED BY GUARANTEE) |
THE HAMBLIN TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 13 |
THE HAMBLIN TRUST (REGISTERED NUMBER: 06927379) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objects of the Trust are to advance the Christian religion (without regard to denomination) by the teaching, study and application of Christian habits and methods of thought, the propagation of Christian spiritual doctrine, the teaching and study of applied Christian right thinking and the adoption of Christian spiritual values in daily life and to advance the education of the public in Christian philosophy. |
Significant activities |
The activities of the Trust raise awareness of the importance of Right Thinking in the way we live our lives and through promoting the understanding of the spiritual and practical principles that underpin health and wellbeing. However, given a range of operating difficulties and the continuing financial problems faced by the Trust over the years, the decision was made in October 2021 to sell the physical site, the sale being completed on the 3rd of May 2023. Since that time, the Trust has operated largely online, with occasional public meetings using rented premises. |
The Trust has continued its work through the publication and distribution of its magazine, Hamblin Vision, and has promoted a programme of talks and meetings available to both members and the general public, both on site and online. |
The Trust has also introduced a new policy of re-publishing Hamblin's original publications, presently out of print, using both physical and e-book formats. |
Public benefit |
The trustees continue to follow the Charity Commission's guidance on public benefit and in particular the specific guidance on charities for the advancement of religion. |
Both the publishing work of the Trust, and the regular groups, meetings, and lectures and seminars are open to the public without any restriction on any grounds. Indeed, the Trust seeks to widen its influence, and its membership on an on-going basis, and publicity is always an ongoing process. |
ACHIEVEMENT AND PERFORMANCE |
Following the sale of the site and the loss of income derived from its activities, performance this year naturally reflects a much smaller operation. |
Total income for the year to 31 July 2024 was £5,361 (2023 £31,353), total expenditure was £62,159 (2023 £77,126), and net gains on investments of £12,444 (2023 £nil) resulting in a net expenditure of £44,354 (2023 £45,593). Total expenditure was heavily affected by significant professional accountancy fees of £13,664 a significant proportion of which was for work following the sale. This cost should be significantly lower in future years. |
The much-reduced income reflects the loss of room hire, lodge lettings and other site-based activities now no longer available. |
The main achievements in terms of our non-financial objectives for the year were to provide a wide variety of activities and classes intended to facilitate inner peace and physical and spiritual wellbeing. |
The Trust has primarily focused on the development of digital products, e-book publications and the use of social media to support our continuing operation. We have also continued, with the support of our teachers and practitioners, to provide various talks, meditations and classes on-line, either live or pre-recorded. |
From a financial point of view, a £44,354 net expenditure for the Trust is a not unexpected outcome following the impact of the decision to sell the site, the consequent loss of rental and event income and the continued reduction in members. We are grateful to our small team of part time staff, volunteers and trustees who have continued to support our work, albeit of a much-reduced nature. |
THE HAMBLIN TRUST (REGISTERED NUMBER: 06927379) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 2024 |
FINANCIAL REVIEW |
Reserves and principal financial management policy |
The Trust's principal financial management policies adopted during the year have been to exercise control over operating expenses and to focus on generating income from digital products and the publication of Hamblin's out-of-print books in e-book format. |
The Trust's Reserve policy is to hold sufficient reserves to be able, should it become necessary, to cease trading under control and with sufficient funds to discharge our statutory obligations to staff. The Trust has continued to manage its cash carefully and, following the sale, has the proceeds to ensure the Trust can continue to operate for the near future and have a further opportunity to optimise its publishing and online activities. |
Given the sale of the site and the intention to operate primarily online, the trustees' main focus is now on the continued development of digital products, e-book publications and social media activity. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
The Trust is incorporated as a company limited by guarantee governed by its memorandum and articles of association and is a registered charity. The liability of the members in the event of the Trust being wound up is limited to a sum not exceeding £1. The total of such guarantees at the year-end was £4. |
The Trustees are empowered under the Trust Deed to apply the funds of the Charity for the purpose of its objects and are at liberty to pay the expenses for the preparation, publication and dissemination of religious literature. |
Recruitment and appointment of new trustees |
The Trustees are eligible, in committee, to appoint additional Trustees under the terms of the Trust Deed. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
THE HAMBLIN TRUST (REGISTERED NUMBER: 06927379) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
Sam Ede FCA FCCA BFP |
Lewis Brownlee (Chichester) Limited |
Chartered Accountants |
Appledram Barns |
Birdham Road |
Chichester |
West Sussex |
PO20 7EQ |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE HAMBLIN TRUST |
Independent examiner's report to the trustees of The Hamblin Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Sam Ede FCA FCCA BFP |
Lewis Brownlee (Chichester) Limited |
Chartered Accountants |
Appledram Barns |
Birdham Road |
Chichester |
West Sussex |
PO20 7EQ |
25 April 2025 |
THE HAMBLIN TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 JULY 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Other trading activities | 4 |
Investment income | 5 |
Total |
EXPENDITURE ON |
Charitable activities | 6 |
Total |
Net gains on investments |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 144,027 |
THE HAMBLIN TRUST (REGISTERED NUMBER: 06927379) |
BALANCE SHEET |
31 JULY 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Stocks | 11 |
Debtors | 12 |
Investments | 13 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 14 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 15 |
Unrestricted funds |
TOTAL FUNDS |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
THE HAMBLIN TRUST (REGISTERED NUMBER: 06927379) |
BALANCE SHEET - continued |
31 JULY 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE HAMBLIN TRUST |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
The Charity is an incorporated charity, registered with the Charity Commissioners for England and Wales (1133567) and a company incorporated in England and Wales (06927379). The Charity is limited by Guarantee to a maximum of £1 contribution per member. There are currently four (2023: four) members. The Charity is governed by its Articles of Association. Its principle objectives and registered office can be found in the report of the trustees. |
The presentational currency of the financial statements is Pound Sterling (£) which is rounded to the nearest Pound (£). This is the Charity's functional currency. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. |
Income |
Income is recognised in the accounts as follows: |
- Donations and other miscellaneous income - on a receipts basis |
- Membership fees - on a receipts basis including lifetime memberships |
- Dividends and interest - date the dividends and interest is received |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer equipment | - |
Where applicable, assets at a valuation in excess of £100 are capitalised as fixed assets. These assets are held at cost less depreciation in accordance with the above depreciation policy. |
Investments |
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Financial instruments |
The charity only has financial assets and financial liabilities that qualify as basic financial instruments which are recognised at transaction cost and subsequently carried forward at amortised cost. |
THE HAMBLIN TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
3. | DONATIONS AND LEGACIES |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Donations | 632 | - | 632 | 889 |
Membership | 2,212 | - | 2,212 | 2,269 |
2,844 | - |
4. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Digital products | 278 | - | 278 | - |
Rental income | - | - | - | 19,281 |
Other income | 1,834 | - | 1,834 | 7,976 |
Sale of publications | 399 | - | 399 | 1,112 |
2,511 | - |
5. | INVESTMENT INCOME |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Deposit account interest | 6 | - |
6. | CHARITABLE ACTIVITIES COSTS |
The direct costs of charitable activities, were as follows: |
2024 | 2023 |
£ | £ |
Cost of charitable activities | 54,981 | 77,126 |
Investment management costs | 8,676 | - |
63,657 | 77,126 |
THE HAMBLIN TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
7. | NET INCOME/(EXPENDITURE) |
Fees for the independent examination amounted to £4,200 during the year (2023: £4,000). In 2023 bookkeeping and advisory services paid to an independent examiner amounted to £53,162. In 2024 advisory services paid to an independent examiner amounted to £11,164. |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. |
Trustees' expenses |
Travel and meeting expenses reimbursed to trustees amounted to £Nil (2023 - £390). |
9. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Support | 2 | 1 |
Supervision | - | 1 |
Lodge | - | 2 |
Total staff costs may be analysed as follows: |
2024 | 2023 |
£ | £ |
Wages and salaries | 29,048 | 43,755 |
Social security costs | - | - |
Other pension costs | 1,070 | 908 |
10. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 August 2023 and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
THE HAMBLIN TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
11. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
VAT |
Prepayments |
13. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Investments |
Current asset investments historical cost amounts to £78,500. |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
Deferred income for the year totalled £302 (2023: £Nil) and relates to memberships paid in advance. |
15. | MOVEMENT IN FUNDS |
Net |
movement |
At 1/8/23 | in funds | At 31/7/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 144,027 | (44,354 | ) | 99,673 |
TOTAL FUNDS | (44,354 | ) | 99,673 |
THE HAMBLIN TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
15. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 5,361 | (62,159 | ) | 12,444 | (44,354 | ) |
TOTAL FUNDS | ( |
) | (44,354 | ) |
Comparatives for movement in funds |
Net |
movement |
At 1/8/22 | in funds | At 31/7/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 189,620 | (45,593 | ) | 144,027 |
TOTAL FUNDS | 189,620 | (45,593 | ) | 144,027 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 31,533 | (77,126 | ) | (45,593 | ) |
TOTAL FUNDS | 31,533 | (77,126 | ) | (45,593 | ) |
16. | EMPLOYEE BENEFIT OBLIGATIONS |
The trust operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the charity in an independently administered fund. The pension cost represents contributions payable by the charity to the fund and amounted to £1,070 (2023: £908). Outstanding contributions at the year end amounted to £292 (2023 : £108). |
THE HAMBLIN TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
17. | RELATED PARTY DISCLOSURES |
18. | ULTIMATE CONTROLLING PARTY |
The Trust is controlled by the trustees. |