| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| The Hackfall Trust |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| The Hackfall Trust |
| The Hackfall Trust |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 | to | 10 |
| The Hackfall Trust (Registered number: 04351377) |
| Report of the Trustees |
| for the Year Ended 31 December 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 December 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) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The charity's object and its principal activity continues to be that of safeguarding the future of Hackfall, an eighteenth century ''green garden''. The site is a Grade I listed historic park and garden and contains listed structures and buildings. These are the concern of the Hackfall Trust, which was set up in 1988 to forestall the likelihood of commercial development. Other stakeholders came forward, namely the Landmark Trust, English Nature, two Local Authorities, and principally the Woodland Trust, which acquired a 999-year lease of Hackfall. |
| ACHIEVEMENTS AND PERFORMANCE |
| Investment performance |
| The trustees are currently satisfied with the investment performance of the assets and at present do not have any plans to expand its portfolio or feel it necessary to dispose of those currently in use. |
| Internal and external factors |
| The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact. |
| FINANCIAL REVIEW |
| Principal funding sources |
| The Hackfall Trust is pleased and fortunate to receive funding from a number of organisations and individual sources. However the primary income source is dividends from its investment portfolio. |
| Reserves policy |
| The trustees consider the financial position of the charity to be satisfactory in relation to their current commitments. However it should be viewed against the trust's ultimate commitment, which is not only to restore the 18th century Hackfall landscape, but to keep it maintained after restoration, as will be required by any contract with the Heritage Lottery Fund. |
| 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. |
| Recruitment and appointment of new trustees |
| There have been four trustees throughout the period and no new trustees were required. |
| Organisational structure |
| The Board of Trustees consists of four serving trustees at present. These trustees meet as required, and review and act on the trust affairs as appropriate. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| The Hackfall Trust (Registered number: 04351377) |
| Report of the Trustees |
| for the Year Ended 31 December 2024 |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Yorkshire Accountants Ripon |
| Eva Lett House |
| 1 South Crescent |
| Ripon |
| North Yorkshire |
| HG4 1SN |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| The Hackfall Trust |
| Independent examiner's report to the trustees of The Hackfall Trust ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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. |
| Brian Elsworth |
| Yorkshire Accountants Ripon |
| Eva Lett House |
| 1 South Crescent |
| Ripon |
| North Yorkshire |
| HG4 1SN |
| 9 August 2025 |
| The Hackfall Trust |
| Statement of Financial Activities |
| for the Year Ended 31 December 2024 |
| 2024 | 2023 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Investment income | 2 |
| EXPENDITURE ON |
| Raising funds | 3 |
| Charitable activities |
| Other |
| Total |
| Net gains on investments |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 505,253 |
| The Hackfall Trust (Registered number: 04351377) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 6 |
| CURRENT ASSETS |
| Cash at bank |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 7 |
| Unrestricted funds | 505,253 |
| TOTAL FUNDS | 505,253 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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. |
| 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 Hackfall Trust |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| 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. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| 2. | INVESTMENT INCOME |
| 2024 | 2023 |
| £ | £ |
| Dividend Income Received | 20,018 | 17,910 |
| The Hackfall Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | RAISING FUNDS |
| Investment management costs |
| 2024 | 2023 |
| £ | £ |
| Portfolio management | 300 | 300 |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Investment income |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Other |
| Total |
| Net gains on investments |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 474,582 | - |
| TOTAL FUNDS CARRIED FORWARD | 505,253 | - | 505,253 |
| The Hackfall Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 6. | FIXED ASSET INVESTMENTS |
| Listed |
| investments |
| £ |
| MARKET VALUE |
| At 1 January 2024 |
| Additions |
| Revaluations |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 | 520,373 |
| At 31 December 2023 | 456,345 |
| There were no investment assets outside the UK. |
| Cost or valuation at 31 December 2024 is represented by: |
| Listed |
| investments |
| £ |
| Valuation in 2024 | 153,485 |
| Cost | 366,888 |
| 520,373 |
| 7. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.1.24 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| Unrestricted |
| 505,253 | 34,378 | 539,631 |
| TOTAL FUNDS | 34,378 | 539,631 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| Unrestricted |
| 20,018 | (1,500 | ) | 15,860 | 34,378 |
| TOTAL FUNDS | ( |
) | 34,378 |
| The Hackfall Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.23 |
| £ | £ | £ |
| Unrestricted funds |
| Unrestricted |
| 474,582 | 30,671 | 505,253 |
| TOTAL FUNDS | 474,582 | 30,671 | 505,253 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| Unrestricted |
| 17,910 | (908 | ) | 13,669 | 30,671 |
| TOTAL FUNDS | 17,910 | (908 | ) | 13,669 | 30,671 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.1.23 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted funds |
| Unrestricted |
| 474,582 | 65,049 | 539,631 |
| TOTAL FUNDS | 474,582 | 65,049 | 539,631 |
| The Hackfall Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| Unrestricted |
| 37,928 | (2,408 | ) | 29,529 | 65,049 |
| TOTAL FUNDS | 37,928 | (2,408 | ) | 29,529 | 65,049 |
| 8. | RELATED PARTY DISCLOSURES |