UNAUDITED REPORT AND ACCOUNTS
30 JUNE 2025
(A Company limited by guarantee registered in England & Wales)
Company registration number: 02572039
Charity registration number: 1013308
THE GRIFFIN COMMUNITY TRUST
Contents
| Page | |
|---|---|
| Directors Annual Report | 1-6 |
| Chairman’s Report | 7 |
| Independent Examiner’s Report | 8 |
| Accounts comprising: | |
| Statement of Financial Activities | 9 |
| Balance sheet | 10-11 |
| Notes to the accounts | 12-17 |
The following page does not form part of the statutory accounts:
Detailed income and expenditure account 18
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 1
DIRECTORS ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2025
REFERENCE AND ADMINISTRATIVE DETAILS
The Chair presents the report of the directors, which is also the directors’ report as required by company law, with the accounts of the company for the year ended 30 June 2025. The directors have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102 (1A)) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (second edition) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 (Second Edition) and effective from 1 January 2019.
CHARITY NAME
The Griffin Community Trust
REGISTERED NUMBER 02572039 (England and Wales) CHARITY NUMBER 1013308 REGISTERED OFFICE 68 Beacon Drive Seaford East Sussex BN25 2JX
CHARITY’S DIRECTORS
Dr O Akinkugbe Vice Chair Dr Y C Chan Governance Lead Professor B T Colvin Secretary Miss A Lim Student Chair (Resigned 5 Nov 2024) Dr K A Price Vice Chair Mr S P Rockhill Finance Chair Miss S Y Shih Student Chair (Appointed 5 Nov 2024) Miss S Suresh Student Chair (Appointed 5 Nov 2024) Miss J A Walker Accommodation Lead Dr V L C White Chair
The directors of the company have the voting rights for the purposes of the Companies Act 2006. No Director had a beneficial interest in any contract with the company during the period.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 2
DIRECTORS ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2025
REFERENCE AND ADMINISTRATIVE DETAILS (continued)
PRESIDENT CHAIR SECRETARY
PRESIDENT Vacant CHAIR Dr V. L. C. White SECRETARY Professor B T Colvin REGISTERED OFFICE 68 Beacon Drive Seaford East Sussex BN25 2JX CHARITY ADMINISTRATOR Anthony Pettit 68 Beacon Drive Seaford East Sussex BN25 2JX ACCOMMODATION MANAGER Heather Hill 53 Cheyne Walk Grange Park London N21 1DB BANKERS Barclays Bank Plc 240 Whitechapel Road London E1 1BS SOLICITORS BDB Pitmans LLP One Bartholomew Close, London EC1A 7BL INDEPENDENT EXAMINERS Barrow LLP Jackson House Station Road Chingford London E4 7BU
STRUCTURE, GOVERNANCE AND MANAGEMENT
The company is registered for charitable purposes with the Charity Commissioners and is governed by a Memorandum and Articles of Association. It is a medical student inspired organisation.
It is limited by guarantee and does not have any share capital. The liability of members in the event of winding up is limited to £1 per member.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 3
DIRECTORS ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2025
The Memorandum and Articles of Association of the Company (adopted 8 September 2021) states:
The Maximum number of Directors shall be ten and the minimum number of Directors shall be four.
The Directors shall include a Student Director, eligibility for which shall be determined from time to time by the Directors.
A Director may not appoint an alternate director or anyone to act on their behalf at meetings of Directors.
The Directors from time to time shall be the only members. A Director shall, by agreeing to become a Director, agree to be a Member and accordingly shall be admitted to membership of the Charity on their appointment as Director.
APPOINTMENT OF DIRECTORS
Any person who is willing to act as a director, and is permitted by law to do so, may be appointed to be a director by a resolution of Directors, provided that no appointment of a director may be which would cause the number of Directors to exceed any number fixed as the maximum number of Directors.
RETIREMENT OF DIRECTORS
The terms of office of the directors in office at the date of the adoption of the Articles shall be determined by way of Resolution of the Directors.
Any other Director shall be appointed for a term of three years at the end of which they shall retire.
A person retiring from the office of Director shall be eligible for re-appointment but, where the retirement is at the end of a consecutive period of nine years or more in office, the Director shall not be eligible for re-appointment for a further consecutive term of office, unless approved by a unanimous vote of the Directors.
ORGANISATIONAL STRUCTURE
The administration of the charity is divided into two committees:
The Directors Board This is the governing Committee of the whole charity body who hear reports from the Finance Committee, along with other items such as Student Activities and Residents report. It also oversees all matters regarding the accommodation.
Finance Committee This is a sub-committee of the Directors Board who oversee the finances of the charity and manage the Administrator who has delegated responsibility for the day-to-day financial transactions of the Charity. All payments of the Charity are authorised before payment is made.
The finances are further divided into 2 areas:
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Student Activities are dealt with by the student treasurer, who reports to the Administrator.
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The Administrator deals with all other financial transactions.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 4
DIRECTORS ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2025
Statement of Directors’ responsibilities in respect of the Directors' Annual Report and the financial statements
The Company Directors are responsible for preparing the directors' Annual 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 Directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles in the Charities SORP 2019 and FRS 102 (1A)
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make judgements and estimates that are reasonable and prudent.
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
RISK MANAGEMENT
The Finance Committee conducted a review of the financial risks faced by the Charity throughout the year. The Committee considers that there are sufficient financial risk management procedures and internal controls in place adequate to reduce such risks to an acceptable level to the directors. It is intended a review of risk management, and all other procedures will be conducted on a timetabled basis.
OBJECTIVES AND ACTIVITIES
The Charity’s objectives are as follows:
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(a) the relief of elderly infirm handicapped whether physically or mentally or physically weak persons by the promotion of social inclusion for the public benefit, in particular but not exclusively in the East End of London; and
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(b) the provision of short-term accommodation for medical and dental students from Barts and The Faculty of Medicine and Dentistry Queen Mary University of London with a view to assisting students (including postgraduate students and persons engaged in research) to obtain and benefit from education or to pursue research at universities and other institutions of further education.
The charitable purpose under the Charities Act 2011 is for the advancement of citizenship and community development.
VOLUNTEERS
The directors, friends of Griffin and students provide numerous services at no cost. The Griffin Community Trust relies on these volunteers for help in the running of the company’s many activities.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 5
DIRECTORS ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2025
PUBLIC BENEFIT
The directors have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the directors view that its innovative work integrating the medical and dental students with the elderly in the various activities run has both social and learning benefits for the two disparate groups. In planning our activities to encompass this integration we will continue to contribute to the aims and objectives we have set.
ACHIEVEMENTS AND PERFORMANCE
We were invited to give an oral presentation to the British Geriatric Society at the ExCel in East London in November 2024, which was very well received.
We won Volunteering Group of the year at the Clubs Union Awards, which was a fantastic achievement. The pandemic was a difficult time for Griffin but the students over the last few years have got it back up to speed and have also reconnected with Toynbee Hall.
Following the introduction of the Westbury Prize this year saw our first ever winner in Bishoy Daoud Yassa. A review was undertaken of the prize and a new topic chosen for the coming year. The Westbury family agreed to donate £150 contribution to this year’s prize money.
As part of its ongoing programme the Charity undertook policy reviews in a number of areas this year. The main review on a GDPR policy commenced and is being revisited with the introduction of CCTV at the start of the year. We also reviewed the tenancy agreements making changes to incorporate various items raised during the year.
The finance committee continued to monitor the financial position of the trust. During the year they undertook regular investment reviews, an insurance review, budget setting and review of all income and expenditure.
Following a review of Gas and Electricity suppliers we placed a new 3-year contract and set up a pilot scheme to monitor the use of Gas and Electricity at Griffin House.
Further improvements were made to the student accommodation as part of an ongoing programme. The final kitchen was updated as part of the previous 5-year plan and the CCTV and upgrade to the entry doors were installed. There was also a fire assessment risk undertaken which resulted in recommendations to make to the property. These were all undertaken during the year, along with the introduction of a PAT testing programme.
FINANCIAL REVIEW
A summary of the results of the year’s activity is given on page 9 of the accounts.
Income for the period was £133,355 (2024 - £112,458) and after expenditure and investment gains a surplus resulted of £4,322 (2024 – £44,823 Surplus).
RESERVES POLICY
As of 30[th] June 2025, the Charity held £870,233 in unrestricted reserves (2024 - £831,005) along with £157,942 in restricted reserves (2024 - £192,848). No funds were in deficit throughout the year.
The Charity are pleased with the financial performance this year with the balance sheet remaining above £1 million.
UNRESTRICTED RESERVES FUNDS – are funds that are freely available to the Charity to spend on any of its charitable purposes.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 6
DIRECTORS ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2025
Unrestricted Reserves are held to service an unexpected need for funds, covering unforeseen day-to-day operational costs, a shortfall in income or to fulfil its obligations. They are derived from rental income, general donations, investment income and bank interest received, after deducting expenses on primary business and Griffin House.
RESTRICTED RESERVES FUNDS – are funds donated to be used for a specific purpose or project.
The Griffin House Fund Restricted Reserves is held specifically for their purpose in the development of capital housing projects. The Griffin House fund being the balance of the original sum donated for housing projects, plus interest added, less expenditure against this Fund.
The Student Activity fund is financed by donations specifically for Student activities in the operation of the Charities objectives after deducting expenses on such activities. Any expenditure in excess of these donations is funded by the unrestricted fund.
INVESTMENT OF RESERVES - Excess liquidity will be placed in an interest-bearing account or invested with financial institutions for a longer-term period at the right time. This period is reviewed on a regular basis.
ONGOING DEVELOPMENT
The director’s assessment is that it requires £150,000 to cover expenditure in the event of an interruption to rental income. The balance of the unrestricted reserve will be added to the cash balances of the Griffin House fund and placed towards the ongoing development of the Griffin House Accommodation and any new project being developed or further financial investments.
FUTURE PLANS
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1) The GDPR review is still ongoing to incorporate legal advice to ensure a compliant policy can be introduced. We will also seek legal advice to ensure our tenancy agreements are compliant after the Renters Rights Bill changes in the summer of 2025.
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2) The Charity has a strong financial basis, and the Finance Committee will encourage further growth by regularly monitoring, whilst continuing to seek value for money. The Charity will undertake a 5-year maintenance review of Griffin House in conjunction with the freeholders Livability to continue its programme to enhance the quality of the accommodation.
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3) The Utility usage pilot will run for a further year due to the first pilot being affected by a factor outside of the student’s control.
FUNDS HELD AS CUSTODIAN DIRECTORS ON BEHALF OF OTHERS
All funds held belong to Griffin Community Trust. No funds are held on behalf of others.
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 7
THE GRIFFIN COMMUNITY TRUST
Chair’s Report 2025
Thank you to all of you who have made the last 12 months a special time for Griffin. It really feels that we have all moved on from the pandemic and that friendships and events are back in full swing. It has been fantastic to see all our old, and new, friends at Toynbee Hall return to our major events and we are delighted that they can join us again.
We were delighted when Griffin won the Volunteering Group of the Year 2025 from the Clubs Union at the Medical School and a particular thanks to Serena Shih Yin and Shreya Suresh, our student chairs, for all their hard work in making this happen.
My thanks to all of the senior members of the committee for all their help and encouragement over the last year: Gbenga Akinkugbe who, despite being an ocean away still manages to do so much for Griffin and support me in the role of Chair. Our congratulations to Kat Price on the birth of Freddie and she is already back to meetings and being an integral part of Griffin. Thank you to Brian Colvin for his support as senior secretary and to Judith for continuing to lead the accommodation committee and ensure that we have enthusiastic students coming to live at Griffin House. Thank you to Fabia Chan for her continued work and diligence on governance. As always, a massive thank you to Stephen Rockhill and Tony Pettit for keeping our finances on a steady course. And, of course, to Heather Hill for all her work with the students to make sure that Griffin House is kept in good order and her ongoing liaison with DMC. And a special thank you to Kirsten Groves for joining us over the last few years and keeping our committee minutes in such good order.
We thank all the Shaftesbury residents for their friendships. It is great to see Annette Davies at all our meetings and for her ongoing enthusiasm and work particularly with the garden at Shaftsbury Lodge – it looked wonderful at the Garden Party. We love having Clare Blakely supporting us and thank you also to Claire Dow and Helen Byrne for their ongoing support.
We have started awarding the Westbury Prize on Healthy Ageing on an annual basis in memory and honour of David and Urs Westbury; all the submission and final winners have been of very high quality, and we are indebted to Jed Ashman, Tom Yau, and Jamie Henderson for their organisation of the award. Thank you.
We would also like to thank the Marie Celeste Samaritan Society for their continued financial support of our events.
Finally, I would like to thank all of the students for their ongoing commitment to Griffin and making the last year a special time for all of us: Christmas dinner, afternoon tea at Browns and annual garden party, to name just a few of the events that you have organised.
We look forward to 2026, our ongoing friendship, companionship, and social events.
Thank you.
Dr Veronica LC White Chair, Griffin Community Trust, 5[th] November 2025
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 8
UNQUALIFIED REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF THE GRIFFIN COMMUNITY TRUST LIMITED (charitable company in England & Wales)
Independent Examiner's Report to the Directors of The Griffin Community Trust
I report to the charity directors on my examination of the accounts of the company for the year ended 30 June 2025 which are set out on pages 9 to 17.
Responsibilities and basis of report
As the charity directors of the company, 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 company’s accounts as conducted under section 145 of the Charities Act 2011 (‘the 2011 Act’). In conducting 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 that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act: or
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the accounts do not accord with those records; or
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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
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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 Ireland (FRS 102 (1A)).
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.
Glenn Armon-Jones Barrow LLP Jackson House Station Road Chingford London E4 7BU
Date:
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 9
THE GRIFFIN COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30[TH] JUNE 2025
| 2025 Restricted 2025 Unrestricted Notes Funds Funds Income and Expenditure £ £ Income and endowments from: Donations and legacies Charitable activities Investments Total income and endowments Expenditure on: Raising funds: Investment management costs Charitable activities Other: Governance costs Total expenditure Net gains/(losses) on investments Net income/(expenditure) Tax on activities Net movement in funds Reconciliation of funds: Total funds brought forward on 1stJuly 2024 Total funds carried forward on 30thJune 2025 3 4 5 6 7 9 13 17 17 17 15,100 - 125 15,225 - (50,131) - (50,131) - (34,906) - (34,906) 192,848 157,942 100 117,424 19,274 136,798 - (87,440) (8,157) (95,597) (1,973) 39,228 - 39,228 831,005 870,233 |
2025 Total Funds £ 15,200 117,424 19,399 152,023 - (137,571) (8,157) (145,728) (1,973) 4,322 - 4,322 1,023,853 1,028,175 |
2024 Total Funds £ 350 111,263 66,909 178,522 - (120,368) (13,331) (133,699) - 44,823 - 44,823 979,030 1,023,853 |
|---|---|---|
All income and expenditure derive from continuing activities and represents restricted and unrestricted funds of the charity.
There were no recognised gains or losses other than those shown in the Statement of Financial Activities for the year ended 30[th] June 2025.
The notes on pages 12 to 17 form part of these financial statements.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 10
THE GRIFFIN COMMUNITY TRUST
BALANCE SHEET 30[TH] JUNE 2025
| FIXED ASSETS Tangible assets Investments Total fixed assets CURRENT ASSETS Debtors Cash at bank and in hand Total current assets LIABILITIES Creditors: Amounts falling due within one year NET CURRENT ASSETS NET ASSETS The Funds of the charity UNRESTRICTED FUNDS RESTRICTED FUNDS Total Charity Funds |
Notes 12 13 14 15 17 17 17 |
Total Funds 2025 £ 328,634 669,152 997,786 6,192 52,394 58,586 (28,197) 30,389 1,028,175 870,233 157,942 1,028,175 |
Total Funds 2024 £ 318,807 652,956 971,763 5,693 82,020 87,713 (35,623) 52,090 1,023,853 831,005 192,848 1,023,853 |
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For the year ending 30 June 2025, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 11
BALANCE SHEET - 30[TH] JUNE 2025 (continued)
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The notes on pages 12 to 17 form part of these financial statements.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 12
THE GRIFFIN COMMUNITY TRUST
NOTES TO THE ACCOUNTS - 30[TH] JUNE 2025
1. PRINCIPAL ACCOUNTING POLICIES
(a) General information and basis of preparation
The Griffin Community Trust is a private company, limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per Director of the charity. The address of the registered office is given in the charity information on pages 1 and 2 of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention and in accordance with 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) published in October 2019 affecting reporting periods beginning on or after 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015.
The charity has taken the advantage of the disclosure exemption in preparing these financial statements as permitted by Financial Reporting Standard FRS102. Therefore, these annual financial statements do not include a cash flow statement on the grounds that it is applying Section 1A of Financial Reporting Standard FRS102.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Funds
Unrestricted funds are available for use at the discretion of the directors in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for a particular purpose. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the Directors Annual Report.
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
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i) All grants’ receivables are credited to the income and expenditure account to which they relate provided receipt is certain, measurable & the charity has entitlement.
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ii) Donations received under Gift Aid together with the associated income tax recoveries are credited to the income and expenditure account in the year of receipt of the donation.
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iii) Rental income is credited to the financial year in which it relates.
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iv) Investment income relates to money held in the CafGold deposit bank account as well as income generated on the charity’s investments.
(d) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Expenditure includes all irrecoverable VAT.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 13
THE GRIFFIN COMMUNITY TRUST
NOTES TO THE ACCOUNTS - 30[TH] JUNE 2025
Costs of raising funds comprise investment management costs relative to the charity’s investments.
Charitable expenditure comprises all expenditure directly related to the objects of the charity. Governance costs include the costs of governance arrangements, which relate to the general running of the charity as opposed to the direct management functions inherent in generating funds, service delivery and programme or project work. These activities provide the governance infrastructure, which allows the charity to operate and to generate the information required for public accountability. They include the strategy planning processes that contribute to future development of the charity.
Support costs include the central functions such as general management, administration, budgeting and accounting, information technology, and financing. Support costs do not, in themselves, constitute an activity; instead, they enable output-creating activities to be undertaken.
(e) Support costs allocation.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Support costs have been allocated solely to the Griffin House activity on the basis that all costs relating to Student Activities are already directly attributed to this activity.
(f) Services in kind
No account is taken of the substantial contributions made by the directors, friends of Griffin and students who provide numerous services free of charge as volunteers.
(g) Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as stated below. There is a full year’s provision in the year of purchase. Only expenditure greater than £500 on capital items is capitalised.
| Depreciation rate | |
|---|---|
| Equipment | 25% |
| Fixtures and Fittings | 20% |
| Land and Building | 2% |
(h) Investments
Investments are recognised initially at fair value which is normally the transaction price. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably.
(i) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(j) Going concern
The financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist. The directors have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern.
2. DONATIONS IN KIND
As reported in note 1 (f), The Griffin Community Trust relies on part-time volunteers for help in the running of the company.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 14
THE GRIFFIN COMMUNITY TRUST
NOTES TO THE ACCOUNTS - 30[TH] JUNE 2025
| 3. INCOME FROM DONATIONS AND LEGACIES Restricted Funds Unrestricted Funds Total 2025 £ £ £ Donations 15,100 100 15,200 4. INCOME FROM CHARITABLE ACTIVITIES Restricted Funds Unrestricted Funds Total 2025 £ £ £ Griffin House rental income - 117,424 117,424 5. INCOME FROM INVESTMENTS Restricted Funds Unrestricted Funds Total 2025 £ £ £ Schroders distribution Interest received. - 125 125 18,668 606 19,274 18,668 731 19,399 6. INVESTMENT MANAGEMENT COSTS Restricted Funds Unrestricted Funds Total 2025 £ £ £ Portfolio management fees - - - 7. EXPENDITURE ON CHARITABLE ACTIVITIES Restricted Funds Unrestricted Funds Total 2025 £ £ £ Griffin House (Activity 1) Washing Machine Lease Griffin House Maintenance Utilities Insurance TV Licences Site Manager Depreciation Garden Cost Support costs (Note 8) Student activities (Activity 2) Student activities Support costs (Note 8) Total - - - - - - 37,771 - - 37,771 12,360 - 12,360 50,131 - 22,444 26,582 1,538 1,017 8,600 - 496 26,763 87,440 - - - 87,440 - 22,444 26,582 1,538 1,017 8,600 37,771 496 26,763 125,211 12,360 - 12,360 137,571 |
Total 2024 £ 350 Total 2024 £ 111,263 Total 2024 £ 66,064 845 66,909 Total 2024 £ - Total 2024 £ 893 16,470 22,451 3,495 954 8,400 35,085 497 20,934 109,179 11,189 - 11,189 120,368 |
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The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 15
THE GRIFFIN COMMUNITY TRUST
NOTES TO THE ACCOUNTS - 30[TH] JUNE 2025
| 8. ALLOCATION OF SUPPORT COSTS Griffin House (Activity 1) Student Activities (Activity 2) £ £ Accountancy and Administration Postage Stationery Telephone Westbury Prizes Rent Refunds Legal & Professional Bank charges 21,042 27 440 5,116 - - 34 104 26,763 - - - - - - - - - 9. GOVERNANCE COSTS Restricted Funds Unrestricted Funds £ £ Accountancy and Administration Independent Examination Fee Meeting Expenses - - - - 4,400 3,600 157 8,157 10. NET INCOME/(EXPENDITURE) FOR THE YEAR Net income/(expenditure) is stated after charging/(crediting): Depreciation of tangible fixed assets |
Total 2025 £ 21,042 27 440 5,116 - - 34 104 26,763 Total 2025 £ 4,400 3,600 157 8,157 Total 2025 £ 37,771 |
Total 2024 £ 14,465 21 445 4,689 250 941 13 110 20,934 Total 2024 £ 4,400 8,713 218 13,331 Total 2024 £ 35,085 |
|---|---|---|
11. INDEPENDENT EXAMINERS REMUNERATION
The independent examiners remuneration amounts to an independent examination fee of £2,600 (2024 - £2,200) and accountancy services of £1,000 (2024 – £1,800).
12. TANGIBLE FIXED ASSETS
| 2. TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|
Cost On 1stJuly 2024 Additions Disposals On 30thJune 2025 Depreciation On 1stJuly 2024 Disposals Charge for the year On 30thJune 2025 Net Book Value On 30thJune 2024 (B/Fwd.) On 30thJune 2025 (C/Fwd.) |
Leasehold Land and Building £ 596,657 - 596,657 - 596,657 321,572 - 321,572 11,933 333,505 275,085 263,152 |
Fixtures and | Fittings 151,658 47,598 199,256 - 199,256 107,936 - 107,936 25,838 133,774 43,722 65,482 |
Equipment £ 13,136 - 13,136 - 13,136 13,136 - 13,136 - 13,136 - - T |
otal £ 761,451 47,598 |
£ |
£ |
||||
809,049 - |
|||||
| 809,049 | |||||
442,644 - 442,644 37,771 480,415 |
|||||
318,807 |
|||||
328,634 |
There was no capital commitments authorised but not entered into at the year-end (2024-nil). All assets are held for charitable purposes.
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 16
THE GRIFFIN COMMUNITY TRUST
NOTES TO THE ACCOUNTS - 30[TH] JUNE 2025
| 13. | INVESTMENTS | |||||||
|---|---|---|---|---|---|---|---|---|
| Market | Additions at | Disposals at | Revaluation | Market | ||||
| Value | cost | OMV | Gain/(Loss) | Value | ||||
| 2024 | £ | £ | £ | 2025 | ||||
| £ | £ | |||||||
| Schroders Investment Fund | 652,956 | - | (-) | 16,196 | 669,152 | |||
| Investments at fair value comprise: | 2025 | 2024 | ||||||
| £ | £ | |||||||
| Listed investments. | 669,152 | 652,956 | ||||||
| Cash and Cash Equivalents within investment | portfolio | - | - | |||||
| 669,152 | 652,956 | |||||||
| Gains/losses on disposal of investments and unrealised | ||||||||
| gains/losses on revaluation: | ||||||||
| 2025 | 2024 | |||||||
| £ | £ | |||||||
| Gains on disposal of investments | - | - | ||||||
| Losses on disposal of investments | - | - | ||||||
| - | - | |||||||
| Realised gains on revaluation | 18,169 | 66,064 | ||||||
| Realised losses on revaluation | (1,973) | - | ||||||
| 16,196 | 66,064 | |||||||
| Net gains/(losses) on investments | 16,196 | 66,064 |
The funds are invested in the Schroder Income Fund Accumulation, an equity-focused investment fund. As of 30 June 2025, the charity held 915,016.81 units in the Schroder Income Fund Accumulation, which are reported at fair value. The charity does not hold any material investments that require separate disclosure.
14. DEBTORS
| Accrued dividends. 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals Deferred income (Note 16) Prepaid deposits Damage deposits |
2025 £ 6,192 2025 £ 5,942 3,600 9,856 2,700 6,099 28,197 |
2024 £ 5,693 2024 £ 10,303 8,713 9,008 2,100 5,499 35,623 |
|---|---|---|
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308
Page 17
THE GRIFFIN COMMUNITY TRUST
NOTES TO THE ACCOUNTS - 30[TH] JUNE 2025
16. DEFERRED INCOME
| EFERRED INCOME | ||||
|---|---|---|---|---|
| On 1 July 2024 Additions during the year Amounts released to income. On 30 June 2025 |
Under 1 year £ 9,008 9,856 (9,008) 9,856 |
Over | 1 year £ - - - - |
Total £ 9,008 9,856 (9,008) 9,856 |
Income has been deferred for rental income received in advance of the next accounting year.
17. FUND RECONCILIATION
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| Unrestricted Restricted funds The Griffin House Fund Student Activity Fund |
Balance 1 July 2024 £ 831,005 Balance 1 July 2024 £ 192,848 - 192,848 |
Movement in Resources Income £ 136,798 Expenditure £ (95,597) Transfers £ - Movement in Resources Income £ 124 15,101 15,225 Expenditure £ (37,771) (12,360) (50,131) Transfers £ - - - |
Gains/ (losses) £ (1,973) Gains/ (losses) £ - - - |
Balance 30 June 2025 £ 870,233 Balance 30 June 2025 £ 155,201 2,741 157,942 |
|
157,942 |
Unrestricted funds are available for use at the discretion of the directors in furtherance of the general objectives of the charity and have not been designated for any particular purpose.
The Griffin House Fund was established in 1995 to provide for a project to redevelop a home for the elderly and a community centre at Lansbury Lodge, incorporating a number of student residences.
The Student Activity fund is financed by donations specifically for Student activities in the operation of the Charities objectives. Any expenditure in excess of these donations is funded by the unrestricted fund.
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fixed assets Net current assets/(liabilities) |
Unrestricted funds £ 839,844 30,389 870,233 |
Restricted funds £ 157,942 - 157,942 |
Total £ 997,786 30,389 1,028,175 |
Total |
|---|---|---|---|---|
19. RELATED PARTIES TRANSACTIONS
The directors did not make any donations without conditions to the charity this accounting year (2024 - £Nil).
There were no other related party transactions during the period (2024 - £Nil).
20. EXPENSES AND REMUNERATION PAID TO DIRECTORS
No director received expenses for attending meetings during the period (2024 - £Nil). Neither did any director receive remuneration or benefits (2024 - £Nil).
21. STAFF
The charity does not employ any staff (2024 - £Nil).
The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308