REGISTERED COMPANY NUMBER: 00470666 (England and Wales)

REGISTERED CHARITY NUMBER: 211093

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE BEATRICE HANKEY FOUNDATION LIMITED

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

16

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

The objectives of the charity are as follows:

- To work for the advancement of the Christian Religion throughout the world.

- To promote any activity designed for the relief of the poor and needy and for help and comfort of the sick and aged throughout the world.

- The advancement of any religious or other charitable object not inconsistent with the foregoing as the Trustees may think fit.

The principal activities undertaken in pursuing the objectives include the following:

- To continue the work of Beatrice and Eva Hankey in connection with the Fellowship known as "The Knighthood" or "Blue Pilgrims".

- To work for the advancement of the Christian religion in co-operation with Christian organisations at home and in the international field.

- To train and send forth persons to act as Christian leaders, teachers and missionaries in deprived areas or where churches need the services of men and women of the Christian vocation.

During the year, we have held three successful weekend length residentials at Hill House, Otterhampton, Werrington, Peterborough and the Ammerdown Centre, near Radstock. All of these help to fulfil our task of furthering the work of the Knighthood and advancing the Christian religion by training and enabling members in their role as Christian leaders and servants.

The BHF underwrites the cost of these meetings, and members of the Knighthood fellowship contribute to the cost as they are able. In this financial year their contributions have covered almost half the cost of the meetings. As a result of this generosity and the work of our investment advisors we have been able to benefit others by making numerous grants to a wide range of charities and individuals helping to advance the Christian religion and to relieve the poor and needy in this country and abroad.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Thus, when considering applications for grant assistance the Council bears in mind the need to ensure the activity benefitted falls within our principal activities and that each grant awarded is of public benefit.

The trustees are reviewing the legal structure that best fits BHF for the foreseeable future. As an initial step towards that, the Annual General Meeting held in August agreed to update the objectives. Those revised objectives were awaiting Charity Commission approval at the end of the year. Further details on the new structure will be provided in the 2025 trustees report.

ACHIEVEMENTS AND PERFORMANCE

While discharging its responsibility to administer the financial funds of the Knighthood, the Council met both face-to-face and virtually on four separate occasions during 2024, including a face-to-face AGM in August 2024.During their February meeting the Council agreed or confirmed policies for Safeguarding, Expenses and Grant making.

Date

Meeting

Chair

20 February

Council meeting at Charney Manor plus Zoom

Mrs W A Hill

20 June

Council Meeting - via Zoom

Rev G Vye

31 August

AGM at the Ammerdown Centre

Rev G Vye

16 November

Council Meeting - via Zoom

Rev DW Faulks

At the AGM, Mrs Wendyanne Hill and Dr Grant Vallance both stepped down as they had reached the end of their second term of office. Mr Robert (Bob) Dalgleish having been co-opted by the Council in November 2023 was elected on to the Council. Revd David Faulks and Mrs Tatiana Halliday were both elected to the Council leaving one vacant position on the Board of Trustees.

Full details on the grants along with the charity's costs and expenditure are set out in the financial accounts that accompany this report.

The council made grants at all its meetings except in June and at the AGM. A summary of the grants agreed in 2024 is set out below.

February 2024

Bethlehem Development Trust

£ 500

Assisi Sisters

£ 500

Bangladesh Camelot

£ 1,500

Chatty Caffi

£ 500

Corrymeela Community

£ 1,000

Middle East Media (MEM)

£ 1,000

Neil Phillimore

£ 500

Proclamation Zambia

£ 500

Young Knights

£1,000

Carers fund Bangladesh

£500

November 2024

Carers fund Bangladesh

£ 750

The Matthieson Music Trust

£ 4,000

Corrymeela Community

£ 2,000

Chatty Caffi

£ 750

Che Africa

£ 1,500

Geoff & Diannah Charitable Trust

£ 750

Hope Into Action

£ 1,000

Middle East Media (MEM)

£1,000

Neil Phillimore

£ 750

Anne Plested - Bethlehem Development Trust

£ 1,000

Village Rwanda UK

£1,500

Sally Childress Free Recovery

£ 500

Daniel King

£ 1,500

Wincobank Chapel

£ 750

Restorative Practice

£ 500

Olive Branch

£ 500

Victoria White on behalf of a family in Zimbabwe

£ 500

Young Knights

£1,000

Total

£27,750

FINANCIAL REVIEW

Reserves policy

The Beatrice Hankey Foundation Limited exists to support the organisation known as the Blue Pilgrims and to make grants to individuals and other charitable organisations in accordance with the terms of its governing document.

Our investment policy states that we require medium risk investments and are looking for some growth in capital and an income of around £30,000 to £35,000 per annum. It is our policy to spend the greater part of this income, in line with the aims of our governing document, whilst ensuring that the bank accounts remain in credit at all times.

At 31 December 2024 the total funds held are £1,298,201. This includes £1,253,924 in an investment portfolio. There are no restricted funds and no tangible fixed assets of significant value.

The amount of reserves remaining after taking into account those held in tangible fixed assets and the investment portfolio equates to £44,277. The charity considers it necessary to hold this level of reserves to enable normal operating activities to continue over a period of up to twelve months. Total resources expended in the year to 31 December 2024 were £65,659 (2023: £58,282).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a charitable company limited by guarantee and was incorporated on 9 July 1949 and registered as a charity on 17 October 1962. It is governed by a memorandum and articles of association which were amended on 6 September 2003.

The members of the charitable company guarantee to contribute an amount not exceeding £10 to the assets of the charitable company in the event of winding up.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00470666 (England and Wales)

Registered Charity number

211093

Registered office

Granville Hall

Granville Road

Leicester

Leicestershire

LE1 7RU

Trustees

Mrs M A Faulks

Rev D W Faulks (appointed 31.8.2024)

Dr G D Vallance (resigned 31.8.2024)

Mrs W Hill (resigned 31.8.2024)

Mrs H Walker

Mrs H Maunder

Rev G A Vye

Ms E J Barton

Mr A R Walker

Rev R A Sellers

Mr J E Sellers

Mr R C Dalgleish (appointed 20.2.2024)

Mrs T Halliday (appointed 31.8.2024)

Company Secretary

Mrs P Spivey

Independent Examiner

Mark J Rees LLP Chartered Accountants

Granville Hall

Granville Road

Leicester

Leicestershire

LE1 7RU

Approved by order of the board of trustees on 27 March 2025 and signed on its behalf by:

Mrs H Walker - Trustee

Independent examiner's report to the trustees of The Beatrice Hankey Foundation Limited ('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.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our work, for this report, or for the opinions we have formed.

Mr P Bott FCA BSc (Hons)

Mark J Rees LLP Chartered Accountants

Granville Hall

Granville Road

Leicester

Leicestershire

LE1 7RU

2 April 2025

2024

2023

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2,500

-

Charitable activities

3

Advancement of Christian religion

10,293

9,299

Investment income

2

38,470

39,492

Total

51,263

48,791

EXPENDITURE ON

Charitable activities

4

Advancement of Christian religion

65,659

58,282

Net gains/(losses) on investments

(14,456

)

33,155

NET INCOME/(EXPENDITURE)

(28,852

)

23,664

RECONCILIATION OF FUNDS

Total funds brought forward

1,327,053

1,303,389

TOTAL FUNDS CARRIED FORWARD

1,298,201

1,327,053

2024

2023

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

11

-

660

Investments

12

1,253,924

1,277,729

1,253,924

1,278,389

CURRENT ASSETS

Debtors

13

5,696

5,525

Investments

14

20,640

20,619

Cash at bank

21,013

25,424

47,349

51,568

CREDITORS

Amounts falling due within one year

15

(3,072

)

(2,904

)

NET CURRENT ASSETS

44,277

48,664

TOTAL ASSETS LESS CURRENT LIABILITIES

1,298,201

1,327,053

NET ASSETS

1,298,201

1,327,053

FUNDS

16

Unrestricted funds

1,298,201

1,327,053

TOTAL FUNDS

1,298,201

1,327,053

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 27 March 2025 and were signed on its behalf by:

Mrs H Walker - Trustee

Mrs M A Faulks - Trustee

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.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows.

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.

Voluntary income is received by way of donations and is included in full in the Statements of Financial Activities when receivable.

Investment income is accounted for in the period in which the charity is entitled to receipt.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

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.

Going concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Fixed asset investments

Investments held as fixed assets are re-valued at mid-market value at the balance sheet date and the gain or loss is taken to the Statement of Financial Activities.

2.	INVESTMENT INCOME

2024

2023

£

£

Income from listed investments

38,397

39,263

Interest receivable

73

229

38,470

39,492

3.	INCOME FROM CHARITABLE ACTIVITIES

2024

2023

Activity

£

£

Assemblies, conferences and meetings

Advancement of Christian religion

10,293

9,299

4.	CHARITABLE ACTIVITIES COSTS

Direct

Grant

Support

Costs (see

funding of

costs (see

note 5)

activities

note 6)

Totals

£

£

£

£

Advancement of Christian religion

24,720

27,750

13,189

65,659

5.	DIRECT COSTS OF CHARITABLE ACTIVITIES

2024

2023

£

£

Leaders, secretarial and treasurers

2,747

1,526

Assemblies, conferences and meetings

21,510

17,036

Newsletters

336

222

Birthday cards

127

200

Depreciation

-

220

24,720

19,204

6.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

£

£

£

Advancement of Christian religion

9,349

771

3,069

13,189

Support costs, included in the above, are as follows:

2024

2023

Advancement

of

Christian

Total

religion

activities

£

£

Investment management fees

9,349

9,352

Bank charges

111

182

Loss on sale of tangible fixed assets

660

-

Independent examiners remuneration

3,069

2,903

13,189

12,437

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024

2023

£

£

Depreciation - owned assets

-

220

Deficit on disposal of fixed assets

660

-

8.	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

Expenses for travel and meetings amounting to £1,168 (2023: £1,449) was reimbursed trustees.

9.	STAFF COSTS

There were no employees during the year.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 31 DECEMBER 2023

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Advancement of Christian religion

9,299

Investment income

39,492

Total

48,791

EXPENDITURE ON

Charitable activities

Advancement of Christian religion

58,282

Net gains on investments

33,155

NET INCOME

23,664

RECONCILIATION OF FUNDS

Total funds brought forward

1,303,389

TOTAL FUNDS CARRIED FORWARD

1,327,053

11.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 January 2024

2,211

2,684

4,895

Disposals

(2,211

)

(2,684

)

(4,895

)

At 31 December 2024

-

-

-

DEPRECIATION

At 1 January 2024

1,613

2,622

4,235

Eliminated on disposal

(1,613

)

(2,622

)

(4,235

)

At 31 December 2024

-

-

-

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

598

62

660

12.	FIXED ASSET INVESTMENTS

Listed investments

FAIR VALUE

£

At 1 January 2024

1,277,729

Additions

174,512

Disposal

(196,339

)

Movement in cash

(22,792

)

Revaluations

20,814

At 31 December 2024

1,253,924

Cash

£

At 31 December 2024

1,908

NET BOOK VALUE

At 31 December 2024

1,253,924

At 31 December 2023

1,277,729

During the year, the charity had £522,967 (2023: £445,964) investments outside the UK.

There were no material investments held with the investment portfolio.

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

2,949

3,515

Prepayments

2,747

2,010

5,696

5,525

14.	CURRENT ASSET INVESTMENTS

Investment in the Shared Interest Foundation of £20,640 (2023: £20,619).

15.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Accruals and deferred income

3,072

2,904

16.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

1,327,053

(28,852

)

1,298,201

TOTAL FUNDS

1,327,053

(28,852

)

1,298,201

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

51,263

(65,659

)

(14,456

)

(28,852

)

TOTAL FUNDS

51,263

(65,659

)

(14,456

)

(28,852

)

Comparatives for movement in funds

Net

movement

At

At 1.1.23

in funds

31.12.23

£

£

£

Unrestricted funds

General fund

1,303,389

23,664

1,327,053

TOTAL FUNDS

1,303,389

23,664

1,327,053

Comparative 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

48,791

(58,282

)

33,155

23,664

TOTAL FUNDS

48,791

(58,282

)

33,155

23,664

17.	RELATED PARTY DISCLOSURES

There were no disclosable related party transactions during the year (2023- none).