The Gredley Charitable Trust
REPORT AND FINANCIAL STATEMENrs
For the year ended 31 March 2021
Charity R¢gistratioll No l(K)0266

The Gredley Charitable Trust
INDEX TO Accouwrs
Legal and administrative information
Rwrt of the Trnstees
Trnstees, responsibilities
Independent Examiner's Rei
Statement of financial activities
Balance shect
A¢¢ounting policles
Notes to the accounts
10-15

The Gredley Charitable Trust
LEGAL AND ADMINISTRATIVE INFORMATION
Ycar ¢lld￿ 31 March 2021
TRUSTEES
WJ Gredl¢y
JV Gredley
MS Butcher
SM Porter
TCO Gredl
PG Scott
PRNCIPAL OFFICE AND REGISTERED ADDRESS
Unex Hous
Church Lane
Si¢t¢hworth
Newmarket
Cambridgeshire
CB8 gfN
tNDEPENDENT EXAMINER
RSM UK Tax and Accounting Limited
Blenheim House
N¢wmarkd Road
Bury St Edmunds
Suffolk
IP33 3SB
Coutts & Co
440 Strand
IA)ndon WC2R OQS
Page I

The Gredley Charitable Trust
REPORT OF THE TRUSTEES
Year endd 31 March 2021
The trustees prwit their report together with th¢ fJnaDcial statements of the clwity for the year ended 31
March 2021. Thefinan¢ial statements compris¢ the Statement of Financial A¢¢ivili¢s and the Balance SheeL
togeiher with supporting notes. The fjnancial stat¢ments have been prwared in accordance with the
accounting poli¢i¢s set out on pages 8 and 9 and Comply with the charity's deed, the Charities Act 2011
and Accounting and Repotting by Charities.. Sta¢¢ment of Recommended Prn¢tice applicable to charitie8
preparing their accountg in accordance with th¢ Financial Rew)rting Standard applicable in the United
Kingdom and Republic of Ireland (FRS 102).
CONSTITUTION
The Gredl¢y Charitable Trust is constitutd und¢r a trnst deed dated 10 Au8USt 1990 and is a registered
charity No 1000266.
OBJECTtVES AND AcfIvITIES FOR THE PUBLIC BENEFTr
The obj¢cts of the charity are the purnuit of charitable activities. mainly th¢ orgRnising and f]nancing of
annual sumrnw day trips to the coa8L 30¢ial outings a Christh￿S dinner for the older residen15 of
Newmarket. Suffo]k and the surrounding villages. It also donates amounts to other charities and to cauges
which have a Charitable aim. The ¢harity in*nd$ to continue th¢8¢ activities unchanged. The iTUSt¢¢s
confirni that they have referred io the guidan¢¢ ¢ontained in th¢ Charity Commission's generdl guidance on
publi¢ b¢nefit when trviewing the Trusi's aims and objectives and in detern]ining the grant muking policy
for the y¢ar, and in planning future ￿tiVitieS.
ORGANISATION
The tsuste¢8 who have seryd during the year and since the year end are s¢t out on page l. Th¢ appointsn¢nt
of new or addition&1 trustees is vestcd in the settlor. MT WJ Gredl¢y during bis lifetime. The total number of
tNste¢s SI￿1] not be more than cight and not le&8 than thre¢. Decision3 a￿ made by a majority vote of the
trustees.
New trust¢¢S are identified and appointed by the cimtinuing t￿sleeS and made aware of th¢ gov¢rnin8
do¢um¢nL administrative procedu￿9 and the nature of the ttust genernlly. New trustees are given a copy of
¢he Charity Commission's bookld on the ￿spOnsIbl11ty of trusl¢e$ and the previous year's accounts. The
trustees ar¢ ¢llcouraged to att¢nd Appropriate external training ¢v¢nts wheLr these will facilitatc th¢
undenthg of their role.
The ChArity has purchased indell]nity insurance on behalf of the ¢rust¢w.
GRANT MAKtNG POLICY
Th¢ tn￿teeS decide from time to time what donations tomake and wbat activities to fimd in accordance with
the principal IA)jects as set out aiKJve. In addition. un80li¢iled trquests for grants Are reviewed as they a
r￿e1Ve$1
RELATED PARTIES
The charity uses the pr¢mises of companies controlled by family members of its settler and trustee, WJ
Gred]ey. Jn aggregate th¢ companies derive no profit from the provision of these Se￿iCe$.
KEY MANAGEMENT PERSONNEL REMUNERATION
The tnjstees consider the Board of Trustees as compromising the key managemeni p¢rsonnel of the clwity
in charge of directing and controlling the charity and rnnning and operating th¢ ¢lwiry on A day to daybasis.
No remuneration w&9 paid during this or the previous year.
ACHIEVEMENTS AND PERFORMANCE
Thecharity continued to a¢hieve its Stat￿ objectives and perforniance during th¢ yearalbeil to a lesserextent
due to the on-going ¢omplications arising from the Covid-19 pandemic.
Page 2

The Gredley Charitable Trust
REPORT OF THE TRUSTEES
Year endcd 31 March 2021
FNANCIAL REVIEW
During the year the charity bad a net increase in fimds of £91,728 (2020: £12,939). Th¢ prTucipal funding
souwe for the yw was th¢ T¢nt and asso¢iat¢d incom¢ on the inv&stment property of £96,582 {2020..
£96,316).
FUNDRAISING
No ¢xt¢rnal thndrai8ing ￿tiVitieS a￿ und¢rtaken by the Charity.
INVESTMENT POLICY AND PERFORfvL4NCE
In March 2010 the trustees used £1.664.920 of the fitnds to purchas¢ an investment property. Rents
receivable from this propety bkve S￿er#(ed A yield of approxim&tely 5.8% (2020.. 5.70A} in the year.
RESERVES POLICY
At 31 mA￿h 2021 total reseryes were £2518.937. It 18 the policy of the charity to finance its expendttiwe,
as it arises. from income. To the extent that income 18 not ￿llY utilised in any one year, it is caTTied fonvard
for use in years.
The thistees have decid&1 to keep surplus cash on deN)sit to finance ¢xpenditure in the future.
RISK MANAGEMENT
The trustee8 hav¢ examined the major strategic. business and operational risks which the chartty faces And
Confim that systems have be￿ established 80 that the nttessary steps can be tsken lo le&sen these risks.
The charity 13 ¢XP08ed lo financial risk5 arisingprimaTily from the inveslments that it holds. The charity I
d¢veloFKd an iDt¢rnal fiaTll¢woTk for id¢ntifyiug risks that ¢a¢h inv¢sttn¢Dt is ￿￿5¢d io atLd their impact on
economic capital. This pro¢ess is risk based and utilises ttugtee member knowledge and experience to
manage the capital rquirements and to ensure that chaTityhas the r]nancial strength and capital adequacy
to supp￿* its a¢tiviti¢s.
Covid-19 was d¢¢lar¢d a$ a global pand¢mi¢ on I l M￿h 2020. Th¢ imp8¢t of th¢ measures pul in place to
combat the Outb￿ak rontinu¢ to cau8¢ significaul disruption to busin¢S8¢5 e¢onomies. The trustees have
ken appropriate a¢tion$ to endeavour to mitigate th¢ impa¢t on th¢ Tft￿L
PLANS FOR THE FufuRE
The Trust pl8n$ lo ¢oniinue organisitig and financing Annual summer day trips and social outings subject to
th¢ re8tri¢tions encountered from the Covid-19 p8nd¢mi¢. Christsna8 dinners for older residents in th¢
Newinark¢l w¢r¢ r¢plac￿ by Christmas haTllp¢TS. Th¢ Trust also plans to ¢ontinu¢ to make donations
other Charities. Rentsl income from the Trnst's iDvestm¢nt propety is expe¢ted to fund continuing
¢haritabl¢ Activities.
Approv¢d on bebalf of the Trnstees on 25th January 2022.
TCO Gredley
Trustee
Page 3

The Gredley Charitable Trust
TRUSTEES. RESPONSIBILITIES IN THE PREPARATION
OF FINANCIAL STATEMENrs
Year ended 31 March 2021
The tswst¢es are res[M)nSi￿le for pr¢paTing the Tr￿slees, Report and the financial stat¢m¢nts in accordaThce
with applicable law and United Kingdom Accounting Standards (Unit¢d Kingdom Generally Acceptal
Accounting Practice).
Th¢ law applicable to charities in England & Wales requires the In￿tee$ to prepare financial statements for
each financial year which giv¢ a tn* and fair view of the state of affairs of th¢ dwity and of the incoming
re80urc¢s and &pplication of re8our¢es of the charity forthat period. Jn preparin8 th&qe financial ststemen
the In￿1¢¢$ ar¢ required to:
select suitsble accounting FK)l1ci￿ and then apply them consistently;
observe the m¢tbods and principles in th¢ Charities SORP.
ake judgments and estimates that are reasonabl¢ and prudent"
sta* wh¢iher applicable a(￿untillg standards hove b¢en followrf subject to any matuial d¢partuirs
dis¢los¢d and explained in the financial stat¢m¢nts'
prepare the financial statetnents on the going concern basis unless it is inappTopriate to presume that
the ¢lwity will continue in busine&8.
The Intyt¢¢8 ar¢ responsible forkeeping prw accounting records that disclose with r¢asongble accuracy ot
ny time th¢ financial position of the charity and enabl¢ them to ensure that the f]nancial stat¢m¢nts comply
with the Charili¢s Act 2011, the upplicablc Charity (Accounts and RepoTts) Regulations and the provisions
of the tnJ8t deed. They are also responsible for safeguarding the assets of th¢ ¢h&rity and hence for taking
reasonabl¢ $lq)s for the prevention artd ¢Jetection of fraud and other irregularities.
Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREDLEY CHARITAB[
TRUST
I report lo the tNslee's on my examination of the financiaI statements of The Gredley ch￿itable TnLsI (the
'charity') for the year ended 31 Mar¢h 2021.
Resp)D$lblllties •lld basls of report
As the tsus¢ee8 of the ch8rity* you are responsible the pr¢parntion of the accounts in accordance with
the reqtsirements of the Chariti¢s Act 2011 ("the Act'y.
I report in respect of my examination of the charlty's accounts carried out und¢T section 145 of the 2011
Act and in carrying out my examination, I have followed all the applicable Directions given by th¢ Charity
Commission ulldcr section 145(5)(b) of the ACL
An independent examination does not fftnvolve gathering the ￿idence that would be required in all audit
ond consequently does not cov¢r all the matters that an auditor considers in giving their opinion on the
a¢counts. The planning and conduct of an audit goes beyond the limitd assurance that an independent
examination can proiide. Consequently. l express no opinion to whether the aceounts present a 't￿￿ and
fair view, and my report is limitrd ¢0 those specific matt¢rs 8¢1 Out in the independent examiner's
statement.
Independent examlner'i statement
I have complded my examination. I confirni that no matttlal Juatl¢rs have come to my attention in
connection with the examination wbirh gives me cause to beli¢ve that in. any matetial r¢spect:
the aceounting records were nol kept in resW of the charity ￿ requir￿ by section 130 of th¢
Ch8riti&s A¢t' or
the a¢¢ounts do not a¢￿rd with the accounting records: or
the accounts do not Comply with the applicable requirements conceming the forni and content of
accounts Set out in the chariti￿ (Accounts and Reports) Regulations 2008 other than any
requirement that the a¢¢ounts give a 'true and fair, view which 18 not a matter considered as part of
an independellt examination.
I hav¢ no ¢on¢erns and have come acro88 other matta? in eonn¢¢tion with the examination io which
tention should be drawn in this re￿rt in order to enable a pmper undetstanding of the a¢¢ounts to b¢
reached.
Clair6 S6tth6rland
Name: Claire Suiherland
Name of appli¢able listed b￿Y.. The Insiilule DfCharleredAccouNlants irt Englandand Wal
ReleV￿t prnfe￿lonaj qualification or membership of profe&8ional body: CharteredAccowitsni
On behalf of RSM UK Tax and Accounting Limit
Chartered Accountants
Blenheim House
NewTnarket Road
Bury St Edmund8
Suffo]k
IP33 3SB
26 January 2022
Page 5

The Gredley Charitable Trust
STATEMENf OF FINANCIAL ACTIVITIES
Year ended 31 March 2021
Noies
Total fvnds
Unrestri¢ted
2021
Total fimds
Unrestricted
2020
In¢oJn¢ And endovrnients froJD:
Donations and legacies
Investsnents
114,193
114,047
Total JD¢ome
114,193
114,047
ExpeDdlthre
Invesmient manag¢m¢nt costs
Ex￿ndItUre on charitsble activities
2,087
20,378
1,986
99,122
Tot81 expendithre
22.465
101,108
Net movement In funds
91.728
12,939
R¢¢oDclllation of fundy
Totsl funds brought forward at l April 2020
io
2.427209
2,414.270
Total funds carried fonyard at 31 March 2021
io
£2,518.937
£2,427209
Page 6

The Gredley Charitable Trust
BALANCE SHEET
31 Matrh 2021
NoleJ
2021
2020
FIXED ASSErs
Tan￿￿le assets:
tnveslment properties
Motor vehicles
Investments
I,5(￿,000
8.959
loo
1 ￿00,[m)0
11,947
1,509.059
1.512.047
CURREKf ASSETS
Debtors
Cash at bank
.030.519
4.790
935,087
3.721
1,035.309
938,808
CREDITORS:
Amounts fa]ling due within one year
(25.431)
(23,646)
NET CURRENT ASSETS
1.009.878
915,162
TIYTAL NET ASSE'IB
£2.518.937
£2,427,209
FUNDS - UNRESTRicfED
10
£2518,937
£2,427209
The financial slalements on pages 6 to 15 were opproved and auth￿l8¢d frir issue by the trustees on
25th January 2022 and signed on its behalf by..
TCO Gredley
Trustee
Page 7

The Gredley Charitsble Trust
AccoifNTING POLICIES
BASIS OF AccouNfiNfj
The ￿OUnts have been ptTpaTed under the historical cost convention with it¢ms tEcognised at cost or
tr8llsaction value unless otherwise stated in the relevant note ￿ th¢s¢ accounts.
Th¢ awouDts have been prepared in a¢¢ordanee with the Statement of Recommended Practice.. Accounting
and R¢porting by Charities pr¢pariDg their accounts in accordance with th¢ Financial Reporting Standard
app]i￿ble in the UK Bnd Republic of Ireland IFRS 102) and th¢ Charitia Act 2011 and the Financial
Rewting Stsndanl applicable in the United Kingdom and Republic of Ireland (FRS 102).
GOING CONCERN
The ch￿￿ty is Considered to be a goin8 concern on the basis that li has net assets at the balance sheth date.
When as8¢ssing the going cimcan wsition of the ¢harity, the TTUStees have ¢onsid¢r¢d the on-going impact
8nd uncertainty surrounding the Covid-19 pandemic as well as the financial position of the charity. The
in¢om¢ of the charity is priniarily derived from investtnent ittcome which ha8 Continued to be generatryj
despite th¢ impact of Covid-19. Th¢ charity has minimal overhead expens¢s. does not incur any staff costs
and charitabl¢ ¢xpendilure is at the discretion of th¢ Trustees so this b¢ amended in any year in order to
Tanain in line with the level of income. Therefore, the Trustees have concluded that it is appropriate to
¢ontinu¢ to prepare the financial 3tsl¢ments on the going concern basis.
GROUP ACCOtTTr
The fin￿¢1&1 statements pre5enl infomwtion alx)ut the charity 48 an individual entity and not about its group.
The chArity and its subsidiary undertaking Comprise a small sized group. Th¢ charity has therefore takcn
advantage of the exemptions provided by the Charitie8 knt 2011 (Chyritsble Companies Audit and Group
Accounts Provisions) Order 2008, and the Charitias (A(xounts and Reports) R¢8ulations 2(XJ8 not to prepare
group accounts.
DONATIONS AND LEGACIES
Income from donations are Te¢ognis¢d when the charity has entitlm¢Dt to the income, it is probable that the
in¢orn¢ will be rtteived thc amount of the income can b¢ r¢liobly measuttd.
rNVESTMENT INCOME
Investment income is accounted for in the period to which it rel&tes.
Expenditure is included on an a¢¢n￿lS basis as a liability is incurred. It in¢ludes aDy VAT which canDOt
recovered attd is par( of the expenditure to which it relate8.
Charitoble expendilure COmPTiS¢S those costs incurred by the chArity in the delivery of its activities for ils
beneficiaries.
Property costs relate to those ¢osis inCu￿ed by the charity in Telation to property insurance and repairs, and
are included in the StAtemu)t of Financial Activitie8 as inv¢stsnenl management costs.
GRANTS PAYABLE
Grants payable are accounted for when paid or where an W￿1ndItIonal commitmcnt to pyment is made.
FUNDS
Unrestricted funds Are donations and other incomi7>g ffSoU￿£S received or generated foT the objects of the
charity without further specified punx)sc and are available as generdl funds.
Page 8

The Gredley Charitable Trust
AccouKfING POLICIES
TANGIBLE FIXED ASSETS AND DEPRECIATION
All a&8ets 008ting MO￿ than £1,000 are capita]ised.
Depreciation is provided at a 25¥f* reducing balance basis on motor vehicles io write down assel lo ils
estimated residual valu¢ ov¢r its ¢xFwted useful life.
Invejknent properl1￿ gre initially measur￿1 at cost and Subsequently me8sured at fair valu¢. Changes in
fair value Are ￿cOgniS¢d in profit or loss,
INVESTMENTS
Investsn¢nts in subsidiary ar¢ stated al Cost (Note 7).
FJNANCIAL JNSTRUMENrs
Ftnancial assets and financial liabilitie8 are recognised when the Charity becomes a party to the contractual
PTOVi8ions of ihe instrument, and are offset only wben the Charity currently has &1¢8ally enforceable right
to sel off the recO￿lsed amounts and intends either to settle on a net basis, or to realise th¢ a8S¢t and settle
the liability 8imultartwusly.
FiDan¢ial jiabililies and equity instTuments are classified acci)rding to the substan¢¢ of the ciyntrdctual
aTTangements entered into. An equity inslnunent is any wnlwt that¢vid¢ll￿8 A residual interestin the assets
of th¢ Charity after d￿UCting all of its liabilities.
FINANCIAL ASSETS
Amounts owcd by subsidiaryundeTthking and trade debtors wbich are receivable within OD¢ yeaT and do not
constilute a financing IransactlOD are initiaIly measured at the tranwtion prA¢¢ and sub8equendy me8sur¢d
al amortised cost.
FINANCIAL LIABILrrIES
Other creditOTS (including accruals) payable within one year that do not constitute a financing tronsaction
re initially measured at the transaction PTice and subsequently measured at amortised cost, being the
transaction Price less any amounts settled.
Page 9

The Gredley Charitable Trust
NOTES TO THE ACCOUNrs
For the
¢8r ended 31 March 2021
DONATION INCOME
2021
2020
Donati(m from related undertaking
tNVESTMENT INCOME
2021
2020
Other inlerest
Renthl and associated income
17,611
96,582
17.731
96.316
£114,193
£114,047
EXPENDITURE
Inveslment
management Charitabl¢
CQ818
activities
Totsl
2021
Total
2020
Costs directly *llotated to aetlvltles
TT8nsportlCaterin
Entertainment
Vehicle expenses
Gr￿t8 payable
Insurance & other admin costs
Accoulltancy fees
Propety insurance and r¢pairs
465
8,304
5,000
3,109
3,500
465
8,304
5,0¢)0
3,109
3,500
2,087
71.108
l5,523
3.250
3.136
6.105
1.986
2,087
Total resourees expeDded 2021
£2.087
£20,378
£22,465
£101.108
Tot81 re8our¢es expended 2020
£1,986
£99.122
Accountancy re￿ include £2,900 (2020.. £2,800) in respc£l of indep￿1 ewdminers fees.
REMUNERATION OF EMPLOYEES AND KEY MANAGEMENT PERSONNEL
The Charity considets its key manag¢m¢nt personnel comprises its Trustees. The total employment
benefi¢s. including employer pension Cost of key management persoDn¢l, were £Nil (2020., £Nil).
There were no employees in this Charity in 2020 or 2021.
Trnst¢¢s recetvd no remuneration (2020: £Nil) and were not reimbursed for any oftheir expen8e8
in th¢ year (2020: £Nil).
Poge 10

The Gredley Charitable Trust
NOTES TO THE AccouNrs
For the year ended 31 March 2021
GRANTS PAYABLE
2021
2020
I grant (2020: 3) as followB:
The Ellestnere Centre
Sietchworth Parochial Church Council
Dullingham V.E. Day Celebration$
St Nicholas Hospice Care
1.000
5,000
5,0(K)
Nil institutional grant (2020: 1 xrtstiMtional grdnts) of not mo
than £500 to charities and other causcs which have a c])aritable
aim..
250
£3.250
TANGIBLE FIXED ASs￿s
Investrn￿t
propety
Valuation
At l Apri] 2020 al￿ 31 Marcb 2021
£1,500.￿0
The historic Cost of the prop¢rty is £1.664.920 (2020. £1,664.920) at 31 March 2021.
The fair value of the CoMp￿Y'S inv¢8tment properties has been arrived flt by WJ Gredley (a tTUStee)
and AG Monis using a basis of market Va￿e. The valuation was bo8¢d on recent market transactioDS
on an arnl's length basis for similar properties.
The tangible fixed &8sets are primarily held lo provide an investrn¢nt return.
Motor
vehi¢l¢s
Cost..
I April 2020 and 31 March 2021
50.392
Depreciation:
l Aptii 2020
Charged in year
38,H5
2,988
31 March 2021
41,433
Net book valu
31 March 2021
£8,959
31 March 2020
£11,947
Pagell

The Gredley Charitable Trust
NOTES TO THE ACCOUNTS
Forth¢ year ended 31 Marth 2021
Investment
in subsidiary
Va]uation or nominal value or cost
At l April 2020 and 31 March 2021
£l(M)
Investrn¢nt in subsidiary:
Cla&s of
holding
PrO￿rtIOn
held
Name
Oftenfact Limited
Ordinary
iooy
The Tegistered offi¢e of Ollcnfact Limited is Unex House, Church Lane. Stetchworth. Newn)8￿￿,
Carnbridg¢shitE. CB8 grN.
The aggr¢￿t¢ ¢apital and reserv¢8 and results for th¢ Ye￿ are included in Note I l.
The unlisted illv¢stments wtre primarily held to provide an investment rethrn.
DEWtORS
2021
2020
Trade d¢biors
Amount due from subsidiary undertaking
ArnouDt due from related undethg
Other debtors
3,240
574.020
448,575
4,684
561248
366,445
7.394
£1,030,519
£935,087
CREDITORS
2021
2020
Other ¢reditors
A¢¢n￿lS And deferred inrn¢
31
25,400
31
23,615
£25,431
£24,041
Deferred income comprises..
Brought fonvard
Def¢rr¢d in the year
Released in th¢ year
22.2
21.900
(22.200)
22.2(K)
22,2(N)
(22,2(K))
Deferred income Carri￿ fojivard
£21,900
£22,2
Defeffed incomc relatcs to rental incorne for the following quarter.
Page 12

The Gredley Charitable Trust
N(YfES TO THE ACCOUNTS
For the year ended 31 March 2021
10
MOvEME￿rS IN FUNDS
At l April Jncomit
2020
Re8OUW
Outgoing At 31 March
Resourc
2021
Unrestricted fimds:
(3¢neral reserves
2.427209
114.193
(22.465)
2,518.937
Tolal unrestricted fijnds
£2,427209
£114,193
£(22.465)
£2,518,937
At l April
2019
Incoming
Oul8oitig Ai 31 N(arch
2020
Unrestri¢t¢d funds:
G¢n¢rnl tEserve8
2.414.270
114.047
(101.108)
£2,427209
Total unrestricted funds
£2.414270
£114.047
£(101.108)
£2,427209
General fimds-
To the exteni that re50ll￿e8 are not fully utiliseAI in any year for the further4ll¢¢ of the objects of the
cbarity. such sutplus resources ar¢ carria forward for use in sub8¢qvcnt yea￿.
Page 13

The Gredley Charitable Trust
NOTES TO THE ACCOUNTS
For the
¢ar cnded 31 March 2021
SUBSIDIARY COMPANY
The charity owns the whole of th¢ issued ordinary share ¢apitsl of Oft¢nf&et Limited, a company
registered in England. The subsidiary company is an investsnent holding company.
A summary of the results of the subsidiary is shown below..
2021
2020
Turnover
Related costs
600
(5,712)
(9.251)
0￿￿tIng10$S
(8,651)
{5,1 l2)
In*rest receivabl¢ and similar income
Int¢r&qt payable
9.804
(14,413)
22,680
(14,512)
(Lossypmfit on ordinary activities before and after t￿ation
£(13.260)
£3,056
2021
2020
The aggregate of th¢ 8ssets, liabilities and funds w&8:
Awts
Liabilities
600,000
{574,020)
600,488
{561,248}
Net assets
£25,980
£39.240
Capithl and reserves:
Called up sh8re capital (representing 100 ordinary shares of £1
each)
Revaluation reserv¢
Profit and loss account
loo
50,138
(24258)
100
50,138
(10.998)
£25,980
£39,240
The company owns a freehold pror*ty which it int¢nds to develop profitably.
12
TAXATION
The Gr￿ley Charithle Tn￿1 is aregistered ch￿lty and, as such. its incom¢ and gains falling within
Sections 518 to 564 of Part 10 of the Income Tax Act 2007 and Seclion 256 of the Taxation of
Chargeable Gains Act 1992 are ex¢mpi from Corporation tax to the extent that they are applied to
ils ¢haritable objectives.
Page 14

The Gredley Charitable Trust
NOTES TO THE ACCOUNTS
For the ythr ended 31 March 2021
13
RELATED PARTY TRANSAcfioNS
Un¢x Holdings Limited. a related company by VIrti￿ of tt director being a truste¢ of the charity.
rechar8¢d ihe charity £nil (2020.. £6,500) for expenses in¢uTred on its behalf and incury¢d expenses
of £1.350 (2020.. £nil) on behalf of the cbarity which were not rechar&.d. Interest of £3,190 (2020:
£3.190) receivable on the bank balance h¢ld by the company on behalf of the Charity. At 31
March 2021 £354,745 (2020.. £351555) was due from the company and this is included in debtors.
Un¢x Finance Limited. a ￿lated company by viffl￿ of 8 dirtctDr betng a trustee of the charity.
re¢harged the charity £16,949 (2020.. £95.655) for expenses incurred on its behalf. and collected
rent and associat¢d income of £95.889 (2020: £99,026) on behalf of th¢ clwity. At 31 Mwrh 2021
the balance due from this entity was £93,830 (2020.. £14,890).
The charity has given o loan of £250,0(M) to its subsidiary company, Ofienfact Limited? repayable
ol) dernand. The loan is secured and interest is payable at the Tale of 3 % per annum above th¢ b8se
rate. In addition. £324,020 (2020.. £311.248) is due from the subsidiary company on its Current
accounL During the year thded 31 March 2021, the total inteK8t payabl¢ was £14.470 (2020."
£14.630).
14
SECUIUTY
The Trnst has the benefit of a legal charge over Oftenfact Limited's freehold property in resp¢¢l of
all monies due from the subsidiary company. Oftcnfact Limited.
15
RENf B￿cEIvABLE
Ai th¢ year end the ehariiy had contracted with tenants under non-¢ancellable operating lease4 for
the following ￿tllre minimwn lease payments:
2021
2020
Amounts receivable:
Within one year
Between two and five years
63,000
40,734
63,000
103.734
£103,734
£166,734
The operating lea8¢s represent leases of on¢ propw to tbiThl partiu. The l¢ases are registered over
ternis of15 years (2020: 15 yeat3). There ar¢ no options in place for ¢itherparty lo extend the lease
ternis.
Page J5