Charity registration number 1048489 (England and Wales) Company registration number 03086164 THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees M J Davies Mrs J M Davies (Resigned 30 April 2025) Mr S J Elway Mrs JE Hopkins Mrs MY Knight Mrs NE Lynch Mrs G McCarthy Mr T M Rogers Irs S D Tann Secretary Charity number (England 1048489 and Wales) Company number Registered office Mrs G McCarthy Auditor Bankers 03086164 Centre for Deaf People Colin Road Barnwood Gloucester Gloucestershire England GL4 3JL BK Plus Audit Limited 6 Manor Park Business Centre MacKenzie Way Swindon Village Cheltenham Gloucestershire United Kingdom GL51 9TX( CAF Bank Investment managers Rathbones Investment Management Ltd Grants administrators Mrs Sandra Jones Mrs Meg Morris Website www.glosdisabilityfund.org.uk
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY CONTENTS Trustees' report Page 1 - 6 Independent auditor's report 7 - 9 Statement of financial activities 10 Statement of financial position 11 Notes to the financial statements 12 - 16
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also directors of the charity, present their report along with the financial statements of the charity for the year ended 31 March 2025. 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 The charity has its roots in the County Committee for the Care of the Physically Handicapped, which was established in the late 1940s under the umbrella of Gloucestershire County Council. Since its inception, the organisation has evolved over the decades in both the services it provides and its legal structure. The Gloucestershire Association for Disability (operating as the Gloucestershire Disability Fund) is now a private charitable company limited by guarantee (company 3086164) and a registered charity (charity number 1048489) governed by its Memorandum and Articles of Association which were adopted on 1 August 1995 and amended in 1999 to read 'to promote the welfare of disabled persons other than those with a serious mental health condition within the County of Gloucestershire'. With the power to utilise its resources in various ways, the Trustees at that time, after consulting with its beneficiary groups, decided that grant-making was the right course of action for the future. Today, it remains a grant-making charity in the fields of physical and learning disabilities, as well as sight and/or hearing impairment. Objectives and activities Objectives Over the course of three decades, the Trustees have leveraged their professional and personal knowledge of the life-changing issues arising from disabilities and the stress these can bring to family life and individual development. These grants help provide essential needs, enhance well-being and encourage the development of people with disabilities. Since its inception, the charity has distributed around £1,000,000 in grant aid, and grant-making remains its core purpose. This year, the charity focused on improving its internal systems and reviewing and updating its online application Attention has also been given to trustee training on IT, data management and cyber protection. The organisation was pleased to appoint a second part-time grants administrator to assist with processing grant The Trustees held their annual strategic planning day during the year to strengthen the Trustees' understanding of the external environment in which the charity operates and to ensure awareness of changes affecting its work. Public benefit The Trustees confirm that the charity's objectives and the way it carries out its work comply with the Charity Commission's definition of public benefit. Applications meeting the residential, financial and disability criteria are considered, and no private benefit is given to any person associated with the charity, other than for reasons of disability or the modest retirement gifts given to former Trustees or staff. - 1-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance The charity operates two funding streams: • well-being and opportunity grants to eligible individuals experiencing hardship or a need not met by any other source; • grants to organisations within Gloucestershire working with our beneficiary group. otter ongoing support. In 2024-25, a total of 304 applications were received, representing a 23.1% increase on the previous year. Of these, 79 were automatically declined because they did not meet the eligibility criteria. The Grants Committee reviewed 225 applications, and 150 grants were approved. The total amount awarded to individuals in 2024-2025 was £69,352. Eight previously approved grants were not taken up during the year. This is broadly consistent with the previous year, reflecting the ongoing need for practical assistance, such as essential household items and equipment that promote independent living. In addition, in 2024-2025, 21 applications were received from organisations, representing a 31% increase on the previous year. Of these, 15 were approved, with total grants awarded amounting to £61,329. One grant was not taken up from the previous financial year. The organisations supported were: Organisation Brain Tumour Support Brockworth Link Cheltenham Festivals fly2help GL11 Community Project Gloucester Camera Club Gloucestershire Deaf Association Goals Beyond Grass Ignition Gloucestershire Ltd Insight Gloucestershire Lydney Dial-a-Ride Newent Association for the Disabled Soundabout The Living Paintings Trust The Spring Centre Trust Fund The Willow Trust Grant Award £4,000 £619 £2,500 £840 £2,707 £1,896 £25,000 £4,867 £2,000 £2,500 £1,000 £2,000 £3,000 €500 £2,900 1£5,000 Overall, the year has seen a steady rise for both individual and organisational grants. The Trustees remain committed to meeting essential needs, promoting independence and enhancing well-being for people with disabilities in Gloucestershire. Alongside this, the Trustees modernised the charity's administrative systems during the year, appointing an externa IT provider to manage and support its digital operations. Trustees are now equipped with laptops and use a secure Microsoft 365 platform for communications and document storage. Regular training and routine maintenance ensure he system remains efficient, compliant and up to date. The Trustees have implemented new IT security measure ind data-protection protocols in line with current GDPR-UK standards - 2-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review Reserves policy It is the policy of the charity to maintain unrestricted funds within the portfolio managed by Rathbones. These unrestricted funds can be used with the discretion of Trustees within the stated Objects of the charity. The Trustees consider a two-year level of reserves to be prudent, enabling continuity of grant-making in the event of a sustained decline in investment income. As a grant-making trust that operates without public fundraising, our support and administration costs remain modest. While published sector data do not provide a specific benchmark for grant-making trusts alone, commentary from the Association of Charitable Foundations (ACF) suggests that operating costs are typically well under 15% of total spending. Accordingly, the Trustees are satisfied that the charity's cost levels remain appropriate and in line with sector practice. This ensures we can maximise the funds available for grants. Investment policy and performance Rathbones Investment Management manages the investment portfolio on a discretionary basis, adhering to a clear strategy that aims to achieve balanced growth, commensurate with funding requirements, through medium- to high- risk investments. In broad terms, the charity aims to achieve an income yield of 3.0% while maintaining the capital value of the fund. Rathbones' management fee is deducted from capital, and the charity therefore receives gross dividend income. The charity's dividend income for 2024/2025 was £187,690. that the portfolio remains appropriate to the charity's objectives and risk appetite. During the year, the charity received a legacy donation of £60,000, for which the trustees are most grateful. This generous gift has been added to the charity's unrestricted funds to support future grant-making. Plans for future periods Trustees have noted an increase and a material change in the number of individual applications in recent years. Alongside this, organisation applications have increased in number, and this is an area we are looking to develop further. Informed by recent data analysis work undertaken by the charity's grants administrators, the Board plans to conduct an in-depth review of its grant-making strategy during the next financial year to ensure that it continues to meet its charitable objectives as effectively as possible. We shall also maintain regular reviews of all policies (which are listed below) to keep abreast of changing regulations: • Risk Register • Business Continuity Plan • Data Protection Policy (and Data Breach Procedure) • Employee Handbook • Employee Policies • Exit Strategy Policy • Internet, Email and Social Media Usage Policy • Investment and Reserves Policy • Office Procedures and Office Risk Assessment • Operational Financial Controls • Safeguarding Policy • Sexual Harassment Policy - 3-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mrs J M Davies (Resigned 30 April 2025) Mr S J Elway Mrs J E Hopkins Mrs MY Knight Mrs NE Lynch Mrs G McCarthy Mr TM Rogers Mrs S D Tanner Mr R I Clyne Recruitment and appointment of trustees Trustees are appointed for a period of three years, after which they may be re-elected to serve a further three-year term. There is currently no limit on the number of times a trustee can be re-appointed. The Trustees seek to ensure that the interests of their beneficiary groups are reflected in the diversity of those appointed, and that this should include Trustees who are themselves disabled or have direct experience of disability. The officers of the charity (i.e. the Chairperson, Vice Chairperson, Treasurer and Company Secretary) are elected at the Annual General Meeting in December of each year. Other Trustees hold designated roles to cover all aspects of the charity's operations, such as HR and office management. At the end of the financial year, there were nine Irustees. We must report the resignation/retirement of Joan Davies, who for many years has been a much-valued member of the Board and whose experience in the field of social care and occupational therapy has often played a crucial part in our decision-making on the Grants Committee. Sadly, three more Trustees from our long-serving Board have declared their intention to step down at the next Annual General Meeting. Following a careful review of strengths and skills gaps, we are now in the process of recruiting additional members to the Board. Members of the Council of Management (i.e., directors/Trustees) have no beneficial interest in the company however, as members of the charity, they hold voting rights. Members guarantee to contribute an amount no exceeding £1 to the charity's assets in the event of winding up. As of 31 March 2025, the total number of such Trustees was nine. - 4 -
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Organisational structure and meetings The Directors of the charity are its Trustees. They are responsible for the overall governance and management of the charity. The Council of Management (i.e., the Board of Trustees) meets at least four times a year to review the sectors, and are familiar with the day-to-day challenges faced by individuals with disabilities and the organisation that serve them. Additionally, some Trustees possess managerial or financial experience, which they brina to beal on the management of the charity. All are unpaid. We have two part-time Grants Administrators who are responsible for dealing with enquiries and processing grant applications. Bookkeeping is outsourced. The Chair wishes to express gratitude to the charity's Grants Administrators, Sandra Jones and Meg Morris, and all the Trustees for their contributions and commitment to the charity's operation, as well as for their valuable knowledge and experience. Induction and training of new Council of Management members (Trustees/directors) Prospective Trustees are issued an information pack consisting of the charity's Memorandum and Articles of Association, a brochure, the previous year's accounts, Charity Commission guidance for new Trustees, and the grant-making guidelines. They are also invited to attend meetings as observers to gain practical insight into the grant-making process and other business. Related parties The charity is independently funded and has no formal connection or arrangement with other charities or agencies. It seeks to cooperate with other grant makers where relevant and appropriate, while recognising that data-protection requirements can sometimes limit information-sharing with other funders. There have been no related-party issues affecting the Trustees or staff. Governance and risk management The Trustees review, every quarter, the significant strategic, business, and operational risks that the charity is likely to face. Any proposed new activity or strategic decision would be subject to a risk review, as well as seeking appropriate professional advice as part of the initial assessment and subsequent implementation. However, in assessing risk, Trustees recognise that some activities require the acceptance and management of risk if the charity's goals are to be realised. It is the Council of Management's place to provide reasonable assurance against fraud and error. Statement of Trustees' responsibilities The Irustees, who are also the directors of The Gloucestershire Association for Disability for the purpose of company law, are responsible for preparing the Trustees' 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 Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP: - make judgements and estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the will continue in operation. he rustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy a any time the financial position of the and enable them to ensure that the financial statements comply with th Companies Act 2006. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 5-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Auditor accordance with the company's articles, a resolution proposing that BK Plus Audit Limited be reappointed : iditor of the company will be put at a General Meetin Disclosure of information to auditor Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The Trustees' report was approved by the Board of Trustees. Steetho Mr S J Elway Date: 15tt Docentor 2025 - 6-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY Opinion We have audited the financial statements of The Gloucestershire Association for Disability (the ") for the year ended 31 March 2025 which comprise the statement of financial activities, the statement of financial position and notes to the financial statements, including significant accounting policies. The financial reporting framework that has beer applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. - 7-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: le intormation given in the Trustees' report for the financial year for which the financial statements a repared, which includes the directors' report prepared for the purposes of company law, is consistent with tt financial statements; and the directors' report included within the Trustees' report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees' remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the 's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Owing to the inherent limitations of an audit, there is an unavoidable risk that, despite us planning and performing our audit in accordance with auditing standards, one or more material misstatements in the financial statements may have gone undetected by our audit. As with any audit, there is a high risk that irregularities and fraud will go undetected where they involve matters such as misrepresentations from management, collusion, deliberate omissions and override of controls. It is not the role of the auditor to prevent non-compliance and we cannot be expected to detect every instance of non-compliance with all laws and regulations. In identifying assessing risks of material misstatement in respect of irregularities, including fraud and non- compliance with laws and regulations, our procedures included the following: - 8-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY • enquiries of management including a pre audit meeting; • obtaining and reviewing supporting documentation of policies concerning the laws and regulations applicable to the business; • understanding how the company complies with its regulatory framework by making enquiries of management; considering the culture inherent in the company and whether this represents a culture of honesty ar thical behaviour with a strong emphasis of detection and prevention of frau We assessed the susceptibility of the company's financial statements to material misstatement and considered hon fraud might occur. The audit procedures performed included, but were not limited to: • challenging management assumptions and estimates; • identifying and testing unusual journal entries assessing how the relevant laws and regulations have been complied with and noting any instances of nor compliance; • reviewing the financial statements for compliance with relevant Accounting Standards and accounting legislation applicable to a small company; • considering how those charged with governance have addressed the possibility of an override of essential controls or other influence over the financial reporting processes. In addition, we also considered other non financial laws relevant to the company. These do not necessarily have a direct influence on the financial statements but might affect the company's ability to operate. A further description of our responsibilities is available on the Financial Reporting Council's website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 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. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. 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 audit work, for this report, or for the opinions we have formed. Roger Downes FCA (Senior Statutory Auditor) For and on behalf of BK Plus Audit Limited, Statutory Auditor Chartered Certified Accountants 6 Manor Park Business Centre MacKenzie Way Swindon Village Cheltenham Gloucestershire GL51 9TX United Kingdom Date: 16 Decenter 2025 - 9-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY FOR THE YEAR ENDED 31 MARCH 2025 Notes Unrestricted funds 2025 € Income from: Donations and legacies Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure Net gains/(losses) on investments 4 5 Net income and movement in funds Reconciliation of funds: Fund balances at 1 April 2024 Fund balances at 31 March 2025 60,000 188,126 248,126 41,188 165,309 206,497 47,033 88,662 6,423,609 6,512,271 - 10- Unrestricted funds 2024 197,102 197,102 38,847 166,921 205,768 398,274 389,608 6,034,001 6,423,609
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 Fixed assets Investments Current assets Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities The funds of the Unrestricted funds Notes 10 2025 € 6,177,828 2024 6,231,749 11 373,785 (39,342) 238,057 (46,197) 334,443 6,512,271 191,860 6,423,609 6,512,271 6,423,609 6,512,271 6,423,609 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial staterpents were approved by the Trustees on )S/12/25... Greet Mr S J Elway Company registration number 03086164 (England and Wales) - 11-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies Charity information The Gloucestershire Association for Disability is a private company limited by guarantee incorporated in England and Wales. The registered office is Centre for Deaf People, Colin Road, Barnwood, Gloucester, Gloucestershire, GL4 3JL, England. 1.1 Basis of preparation The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been repared in accordance with the Charities SORP (FRS102) 'Accounting and Reporting by Charities statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 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. 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. 1.3 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. 1.4 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 costs 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. 1.5 Taxation As a recognised charity, The Gloucestershire Association for Disability is exempt from Corporation Tax so far as it relates to it's charitable objects. It is not, however, exempt from VAT, and irrecoverable VAT is included in the cost of those items to which it relates. 1.6 Governance costs Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity's activities. - 12-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2 Income from donations and legacies Unrestricted funds 2025 60,000 3 Legacies Income from investments Fixed asset investment income Interest receivable Unrestricted funds 2025 € 187,690 436 188,126 4 Expenditure on raising funds Legal and professional Investment exchange gains/ (losses) Portfolio management costs Total costs Unrestricted funds 2025 74 2,537 2,611 38,577 41,188 - 13- Unrestricted funds 2024 Unrestricted funds 2024 196,702 400 197,102 Unrestricted funds 2024 € 13 3,343 3,356 35,491 38,847
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 5 Expenditure on charitable activities Direct costs Staff costs Rent, rates and room hire Insurance Telephone and internet Postage and stationery Website and computer costs Subscriptions Charges Advertising Grant funding of activities (see note 6) Share of support and governance costs (see note 7) Governance Analysis by fund Unrestricted funds 2025 9,112 3,825 282 840 3,524 11,225 1,456 30,338 130,681 4,290 165,309 165,309 6 Grants payable Charitable 2025 € 130,681 7 Support costs allocated to activities Governance costs Analysed between: Audit fees Bookkeeping Refreshments Away day costs 2025 4,290 3,618 292 1 379 4,290 - 14- 2024 - 16,189 146,379 4,353 166,921 166,921 2024 146,379 2024 4,353 3,362 292 364 335 4,353
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 8 9 Trustees There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Expenses to the value of £379 (2024: £13) were re-imbursed to one (2024: one) of the trustees in the year. Employees The average monthly number of employees during the year was: Administration staff 2025 Number 2 2024 Number 1 There were no employees whose annual remuneration was more than £60,000. 10 Fixed asset investments Cost or valuation At 1 April 2024 Additions Gains Disposals At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 Listed investments 6,231,749 826,213 47,033 (927,167) 6,177,828 6,177,828 6,231,749 Investment breakdown UK common investment funds Overseas common investment funds Shares listed on the London Stock Exchanges Infrastructure funds 2025 480,316 3,000,075 2,310,547 386,890 6,177,828 2024 613,004 2,949,116 2,280,520 389,109 6,231,749 The historical cost of fixed asset investments for the year ended 31 March 2025 was £5,092,864 (2024 - £4,901,975) - 15-
THE GLOUCESTERSHIRE ASSOCIATION FOR DISABILITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Creditors: amounts falling due within one year Government grants Accrued expenses (auditor and portfolio management) 2025 26,242 13,100 39,342 2024 34,097 12,100 46,197 12 Movement in funds All funds are general, unrestricted funds. 13 Related party transactions There were no disclosable related party transactions during the year (2024 - A wellbeing grant of £600 was awarded to a relative of one of the Trustees in the year). - 16 -