Registered Charity Number: 1053321 THE BELSTEAD GANZONI CHARITABLE SErrLEMENT TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT CONTENTS Pages Trustees and professional advisors Trustees, report Independent Auditoffs report Statement of financial activltles 10 Balance sheet Cash flow statement 12 Notes to the financlal statements 13-27
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT TRUSTEES AND PROFESSIONAL ADVISORS Registered Charlty Number 1053321 Trustees The Honourable C R Boscawen J C Pickering LMLong Reglstered Office Providen House 141-145 Princes Street Ips]Mch Suffolk IP11QJ Investment Advlsors Cazenove Capltal Management 12 Moorgate London EC2R 6DA CCLA Investment Management Ltd One Angel Lane London EC4R 3AB Banks Barclays Bank 1 Princes Street Ipswich Suffolk IP11PB CAF Bank Registered Office: 25 Kings Hill Avenue Klngs Hlll West Malllng ME19 4JQ Audltor Sumer Auditco Llmlted statutory Auditor Fltzroy House Crown Street Ipswlch Suffolk IP13LG Solicltor Birketts LLP Providence House 141-145 Princes Street Ipswich Suffolk IP11QJ
THE BELSTEAD GANZONI CHARITABLE SELEMENT TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 The Trustees present thelr report and the financial statements for the perlod ended 31 March 2025. The financial statements have been prepared in accordance wilh current statutory requlrements, the Charills governlng instrument and the provisions of the Statement of Recommended Practice (SORP), appllcable to charities preparing their accounts in accordance with the Flnancial Reportlng Slandard applicable in the Unlted Kingdom and Republic of Ireland (FRS 1021. Objectlves and actlvltles for the public beneflt The Trustees shall hold the Trust Fund upon such charitable trusts and for such charltable purposes as they shall In their uncontrolled discretion from time to time determine. The Trustees confirm thal they have referred to the guldance contalned in the Charlty Commission's general guidance on public benefit when revIeng the Trust's aims and objectives and In planning future activities and setting the grant making policy for the pertod. The Trust carries out these objectives by making grants to charitable organisations. The policy of the Trustees Is to set donations at a level which broadly equates to investment income received wth a contribution from capital funds as required. Grant maklng policy The Trust has established its grant maklng policy to achleve its objects for Ihe public benefit to improve the lives of those in the local community. The Trustees revlew the grant making policy 8nnually to ensure that it reflects the Trusts objects and thereby advances public benefit. The Trust Invltes applications for grants from all charilable instllutions. These are then revlewed by the Trustees, who decide If the grant meets the Trust's objectlves and are for public benefrt. Achlevements and performance The Trust has made charitable distributions in 2025 amounting to £711,350 (2024.. £660,550) to charitable causes within the Trustees, policy objective for annual donations. The Trustees continue to support charitable causes within the Trust's objectives wlth a preference for local projects in Suffolk. Durlng the period the trustees recelved a Legacy from the Lord Belstead Children'5 Settlement, as Set out under the Flnancial Revlew section of thls report. Financlal revlew The net movement in funds for the period amounted to Net (losses) I gains on investments in the period £1,087,524 2024: £9,845,342 (£534,639) 2024.. £1,598.400 The Charilvs powers to invest its funds are set out in the Charity's govemlng Instrument. Any monies not Immediately requlred for the furtherance of the Charity's objects may be invested at the discretion of the Trustees. There are no restrictions on the Trustees, pow&r to Invest funds.
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2025 (Continued) Financlal revlew (contlnued) It is the policy of the Charlty to maintaln unrestricted funds. which are the free reserves of the Charity. The Charlty has Inheritance from the estate of the Late Lord Belstead, all of whlch was transferred to the Charity in previous years. The Charity also has inherltance from the estate of the Late Mary Jill Ganzoni, the majority of which was transferred to the Charity in the prfor year. By Deed dated 19 February 2025, the charitable trustees of the Lord Belstead Children's Settlement appolnted the fund to be held for the Belstead Ganzoni Charitable Settlement absolutely. Thls legacy is Included wlthin debtors for the current year, subject to the ascertalnment of the final assets and Ilabilities of the Lord Belstead Children's Selt18ment. Investment policy The Trustees have adopted a bias towards capital growth. They wlsh to adopt a medium risk Investment strategy. Plans for the future The Trustees plan to continue to designate expendlture wlthin thelr objective of settlng the donations at a level which broadly equates to investment income received over the medium term. structure, governance and management The organlsation is an unincorporated Charltable Trust, created on 14 August 1972 by the late Lord Belstead and reglstered as a charity on 27 February 1996. The Trust was established under a Trust deed whlch established the objects of the Trust and powers of the Trustees. By Vesting Deed dated 15 May 2023 and Pursuant to an Order of the Charity Commission dated 17 April 2023, the Trustees of the Ganzoni Trust were authorised to vest the beneficial interest in all assets they currently hold on the trust for the Ganzoni Trust so that, th effect from the date of the Vesting Deed, they held those assets on trust for the Belstead Settlement. Upon merger. the Trustees resolved that the Charfty name be changed to "The Belstead Ganzoni Charitable Settlement.. By Deed of Amendment and Restatement dated 23 October 2024. with consent provlded by the Charlty Commisslon on the same date, the Trustees varied the Trust by amending its terms as set out in that Deed. The Trustees set out below have held office durlng the year and to the date of this report, except as stated otherwise. The Hon Charles Rlchard Boscawen John Charles Pickerlng Louise Mary Long The power of appolnting new Trustees of the Trust Deed Is vested In the continuing Trustees.
THE BELSTEAD GANZONI CHARITABLE SEThLEMENT TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2025 (Continued) Structure, governance and management (Continued) The current Trustees are responsible for the inductlon of any new Trustees which involves awareness of a Trustee's responsibilities, the governlng document, adminlstrative procedures, and the history of the Charity. Reference and admlnlstrative Informatlon The Belstead Ganzoni Charitable Settlement is reglstered with the Charily Commlssioners, registration number 1053321, Its registered address belng Providence House. 141-145 Princes Street, Ipswich, IP1 1 QJ. Trustees. responsibllltles for the financial statements The Trustees are responsible for preparlng the Annual Report and flnancial statements In accordance with appllcable law and regulations. The law applicable to charities in England & Wales requires the Trustees to prepare financial slatements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (Unlted Klngdom Accounting Standards and applicable law). The Trustees must not approve the financlal statements unless they are satisfied that they glve a true and fair view of the state of affairs of the Charity and of Ihe incomlng resources and applicatlon of resources, Including the income and expenditur8, of the Charlty for that period. In preparing these financial statements the Trustees are requSred to: (a) s8lect sultable accounting policles and apply them consistently, (b) observe the methods and princlples In the Charities SORP. (c) make Judgments and estlmates that are reasonable and prudent. (d) state whether appllcable accounting standards have been followed, subject to any material departures disclosed and explained in the financlal statements and. (e) prepare the financial statements on the golng concern basis unless It Is inappropriate to presume that the Charity wlll continue in operatlon. The Trustees are responslble for keeping sufficlent accounting records that disclose with reasonable accuracy at any time the financial posltlon of the Charity and enable them to ensure that the financial statements comply wlth the Charities Act 2011, the Charity (Accounts and Reports) Regulatlons 2008 and the provlsSons of the Trust Deed. They are also responslble for safeguarding the assets of the Charity and hence for taklng reasonable steps for the preventlon and detection of Provision of Informatlon to audltors The Trustees confirm that so far as they are aware, there is no relevant audlt Information of which the Charitls auditor is unaware. The Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit Information and to establlsh that the Charity's Audltor Is aware of that Informatlon.
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2025 Audltor The auditor, Sumer Auditco Limited, has Indlcate Its willingness to continue in office. The Trustees will propose a motion reappointing the auditor at a meeting of the Trustees. Approved by the Trustees and slgned on their behalf by The Hono le C R Boscawen J C Plckerlng LMLong Dated .2025
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES Opinion We have audlted the flnancial statements of The Belstead Ganzoni Charitable Settl8ment {the 'Charlty') for the period ended 31 March 2025 which comprise the Statement of Financial Actlvltles, Balance Sheet, The Statement of Cash Flows and notes to the financial statements, Including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountlng Standards. Includlng Flnancial Reporting Standard 102 The Financial Reportlng Standard applicable in the UK and Republic of Ireland (United Klngdom Generally Accepted Accounting Practlce). In our opinion, the financlal statements: glve a true and fair view of the state of the Charitls affairs as at 31 March 2025 and of its Incomlng resources and application of resources for the year then ended; have been properly prepared in accordance with United Klngdom Generally Accepted Accounting Practice. and have been prepared Sn accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Audltlng (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responslbllltles for the audlt of the financial statements section of our report. We are independent of the Charfty In accordance with the ethical requirements that are relevant to our audit of the financlal statements in the UK, including the FRC'S Ethical Standard, and we have fulfllled our other ethlcal responsibilities in accordance with these requirements. We belleve that the audlt evldence we have obtsined is sufficient and appropriate to provlde a basls for our oplnlon. Conclusions relating to going concern In auditing the financlal statements. we have concluded that the Trustees, use of the going concern basts of accountlng in the preparation of the financial slatements is appropriate. Based on the work we have performed, we have not IdentSfled any materfal uncertainties relating to events or conditlons that, Indlvldually or collectlvely. may cast slgnlficant doubt on the CharitS ability to continue as a golng concern for a period of at least twelve months from when the financial statements are authorlsed for issue. uur responsiDiiiiies ana irie re5pon5ii)iiiiies Di ine I iuslees wiin respeGi io going conLerri a described In the relevant sectlons of thls report.
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES (Continued) Other Informatlon The other information comprises the information Included In the Trustees, Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Trustee's Report. Our opinion on Ihe fSnanclal statements does not cover the other Information and. except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thgreon. Our responslbillty Is to read the other information and, in doing so, consider whether the other information Is materfally Inconslstent with the financial statements or our knoedge obtained in the course of the audit or otherwise appears to be materially mlsstated. If we Identlfy such materlal Inconslstencies or apparent material misstatements. we are required to determSne whether thls glves 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 mlsstatement of this other Information, we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exception We have nothlng to report In respect of the following matters in relation to which the Charltles (Accounts and Reports) Regulatlons 2008 requlre us to report to you if, in our opinion.. the information given in the Trustees, Report is inconslstent In any materfal respect wtth the financlal statements., or sufflclent accountlng records have not been kept; or the financial statements are not in agreement wlth the accountlng records and returns. or we have not received all the information and explanations we require for our audlt. Responslbllltles of trustees As explained more fully in the Trustees, responsibiltties statement, set out on page 3 and 4, the Trustees are responsible for the preparation of the financlal statements and for belng satlsfied that they glve a true and fair vlew, and for such internal control as the Trustees determlne Is necessary to enable the preparatlon of flnanclal statements that are free from material misstatement, whether due to fraud or error. In preparfng the financlal statements, the Trustees are responsible for assessing the Chariws ablllty to continue as a going concern. disclosing, as appllcable, matters related to going concern and uslng the going concern basis of accounting unless the trustees elther Intend to liquidate the Charity or to cease operations. or have no realistic alt8rnative but to do so.
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES (Continued) Auditor's responsibilities for the audit of the flnanclal statements We have been appolnted as auditor under section 144 of the Charities Act 2011 and report In accordance with the Act and relevant regulations made or having effect thereunder, Our objectives are to obtain reasonable assurance about whether the financial slatements as a whole are free from material misstalement, whether due to fraud or error, and to issue an Audltor's Report that includes our opinion. Reasonable assurance Is a high level of assurance, but Is not a guarantee that an audlt conducted in accordance with ISAS (UK) will always detect a material mlsstatement when it exists. Misstatements can arlse from fraud or error and are considered material If. individually or In the aggregate. they could reasonably be expected to influence Ihe economic decislons of users taken on the basis of these financial statements. The extent to whlch our procedures are capable of detecting irregularities, Including fraud is detailed below: We Identified areas of laws and regulatlons that could reasonably be expected lo have a materlal effect on the financlal statements from our general charltable organisation experience and through dlscussions and enquirles of Trustees and management. During the engagement team brfeflng, the outcomes of these discussions were shared with the team, as well as consideration as to where and how fraud may occur in the Charlty. The following laws and regulations were identlfled as being of slgnificance to the Charity: Those laws and regulations considered to have a direct effect on the financlal statements Including UK financial reportlng standards, taxation regulations and the Charities Act 2011. The Charity Is subject to many other laws and regulatlons where the consequences of non- compliance could have a materlal effect on amounts or disclosures in the financial statements. for instance through Ihe imposition of fines or litigation. We identified the following area as those most likely to have such an effect: GDPR compllance. Audit procedures undertaken In response to the potential risks relatlng to irregularities (which include fraud and non-compliance wlth laws and regulations) comprfsed of.. enquiries of management and those charged wlth govemance as to whether the Charlty complies with such regulations. enqulrles of management and those charged wlth governance conceming any actual or potential litigation or clalms. inspectlon of relevant legal documentation, revlew of board minutes. testing the appropriateness of entries in the nominal ledger, including journal entrles and the performance of analytical procedures to identify any unexpected movements in account balances whlch may be indicative of fraud. The likelihood of detecting irregularlties, including fraud, is limited by the Inherent difflculty In detecting irregularitles. the effectiveness of the CharItS controls, and the nature, timing and extent of the audit procedures performed. Irregularlties that result from fraud might be Inherently more dlfflcult to detect than irregularities that result from error. As explalned above, there Is an unavoidable rlsk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAS (UK).
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES {Contlnued) Auditorfs responsibllities for the audit of the financlal statements (contlnued) A further description of our responsibilities for the audit of the financial statements is located on the Financlal Reportlng Council's website at.. https:/lwww.frc.org.uklauditorsresponsibilities. This description forms part of our Auditor's Report. Use of our Report This report is made solely to the Charlty's Trustees, as a body, in accordance with Part 4 of the Charltles (Accounts and Reports) Regulatlons 2008. Our audlt work has been undertaken so that we might state to the Charity's Trustees 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 responslbillty to anyone other than the Charlty and the Charity's Trustees as a body, for our audit work, for IhSs report. or for Ihe opinions we have formed. Sumer Audltco Llmlted Statutory Auditor Fitzroy House Crown Street Ipswlch IP13LG Date: 12 Decembei 2025 Sumer Auditco Llmited is eligible to act as an auditor in tems of Sectlon 1212 of the Companles Act
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT STATEMENT OF FINANCIAL ACTIVITIES <SoFA) PERIOD ENDED 31 MARCH 2025 Unrestricted Funds Notes 2025 2024 Income Donations and legacies Investment Income Total Income 1,727,605 712,155 2,439,760 8.637,961 524,506 9,162,467 Expendlture Expendlture on Ralslng Funds Investment management fees 35,646 167,424 Expendlture on Charitable Actlvltles Grants payable Governance costs Total Expenditure 711,350 70,601 817,597 677,550 70,551 915,525 Net {Losses) l Gains on Investments (534,639) 1,598,400 Net Income 1,087,524 9,845,342 Reconclllatlon of Fund5 Total funds brought fonvard at 31 March 2024 Total funds carrlod forward at 31 March 2025 27,071,968 28,159,492 17,226,626 27,071,968 statement of Recognlsed galns and losses The Statement of Financial Actlvltles includes all gains and losses recognised in the period. The notes on pages 13 to 27 form part of the financlal st8temenls. 10
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT BALANCE SHEET AS AT 31 MARCH 2025 Notes 2025 2024 Flxed Assets Investments 26,296,866 25,890,444 Current Assets Debtors Cash at bank and In hand 10 1,703,311 247,654 1,950,965 1,139.550 258,366 1,397,916 Creditors: amounts falling due wlthln one year 88.339 216,392 Net Current Assets l (Liabilities) 1862,626 1,181,524 Total Net Assets 28,159,492 27.071,968 Tho Funds of the Charlty Total unrestrlcted funds 12 28,159,492 27,071,968 Approved and authorised for issue by the Trustees and slgned on their behalf by The Hon ble C R Boscawen J C Plckerlng LMLong Dated . 2025 The notes on pages 13 to 27 form part of these financial statements. 11
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT CASH FLOW STATEMENT PERIOD ENDED 31 MARCH 2025 Notes 2025 2024 Cash Flows from operatlng statements Net cash generated from l(used in) operatlng activities 13 320,570 7,810,081 Cash flows from investlng actlvltles Interest received Income from investments Purchase of investments Proceeds from sales of investments Reallsed gains Cash movement 93,129 619,026 (4,061,091) 3,245,161 1104,326) 8,824 (199,277) 145,185 379,321 (30,772,967) 23,805.376 (1,134,922) (7,578,007) Change In cash equlvalents In the year Cash and cash equivalents at 31 March 2024 Cash and cash equivalents at 31 March 2025131 March 2024 15 121,293 626,273 232,074 394,199 14 747,566 626,273 12
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Accounting Pollcles Basls of Accounting The financial statements have been prepared under the historical cost basis in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing thelr accounts In accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition), and the Flnanclal Reporting Standard applicable in the Uniled Kingdom and Republic of Ireland {FRS 102) and the Charfties Act 2011 and UK Generally Accepted Accountlng Practice. The flnancl81 statements have been prepared to give a 'true and falr, vlew and have departed from the Charities (AGGounts and Reports) Regulations 2008 only to the extent requlred to provide a 'true and fair view,. Thls departure has Involved following 'Accounting and Reportlng by Charitles: Statement of Recommended Practlce applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Second Edition)'rather than the Accountlng and Reporting by Charities: Stalemenl of Recommended Practice effective from 1 April 2005 whlch has slnce been wthdrawn. The Belstead Ganzoni Charitable Trust meets the deflnltion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historlcal cost or transaction value unless otherwis8 Stated In the relevant accounting policy. On 15 May 2023, thls charlty (formerly called The Lord Belstead Charitable Settlement) merged with Ganzoni Charitabl8 Trusl. In accordance wlth Section 27 of the Charities SORP. thls has been accounted for uslng merger accountlng and all figures represent the combination of the iwo entitles. Following the merger the trustees agreed to change the accounting year end to 31 March and these accounts have been prepared for the period 1 Aprll 2024 to 31 March 2025, accordingly. The functlon81 and presentational currency of the Charty is British Pounds, rounded to the nearest £1. Going Concem The Trustees have consldered the level of reserves and anticlpate that the Charlty wll be able to contlnue to trade and to meet Its Ilabillties as they fall due for the foreseeable future, being period of 12 months from the date of approval of the financial statements. Accordlngly these Financial Statements have been prepared on the golng concem basis. Flnanclal Instruments The Charity has only financlal assets and flnancial liabilities of a kind that quallfy as baslc financial instruments. Basic financial instruments are Initially recognised at transaction value and subsequently measured at their settlement value at bid value. 13
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Accountlng Pollcles (Continued) Investments Investments are included In the financial statements al market value at the balance sheet date, and the gain or loss on revalualion or dSsposals during the year are taken to the Statement of Financial Activilies. Closlng market valuation: 2025 £25,789,339 2024 £25,514,922 Cash at Bank Cash at bank and cash equivalents include short tenn highly liquid Investments wlth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash equivalents are held with Investment advlsors. Forelgn currency translation Forelgn currency transactions are translated using the spot exchange rales at the date of the transactions. At each period end foreign currency balance sheet items are translated using the closing rate. Income All Incoming resources are included In the Statement of Financial Actlvlties when the Charlty Is legally entitled to the income and the amount can be quantified with reasonable accuracy. All income is stated gross of any expenditure. For legacies, entitlement is the earlier of the Charity being notified of an impending dlstribution or the legacy being received. Expenditure All expendilure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay. Expenditure has been classlfled under headings that aggregate all costs related to the category. Grants payable are recognlsed when the reclplent of the grant has been informed that thelr application is successful and that they will receive the grant. The value of such grants unpaid at the year end Is Included in other creditors. Governance costs are those Incurred in connectlon with the admlnlstration of the Charfty and compliance with constitutional and statutory requirements and are included under expenditure on charitable activitles. Expenditure Includes attributable value added tax which cannot be recovered. 14
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 1 Accountlng Policies (Contlnued) FundAccountlng Unrestricted funds are funds whlch are available for use at the discretion of the Trustees in furtherance of the generdl objectives of the Charity and which have not been designated for other purposes. Taxatlon The Belstead Ganzoni Charitable Settlement 15 a Charity wlthln the meaning of the Charities Act 2011 and as such is a Charitywithin the meanlng of Part 11. Corporation Tax Act 2010. Accordingly the Charity is potentlally exempt from taxation in respect of income or galns received within categorles covered by Part11, Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such Income or gains are applied exclusively to its charitable purposes. 15
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Donations and Legacles 2025 2024 Donations Lord Belstead's Children's Settlement Income Legacy Capital Legacy Sale of Seckford Bungalow Compensalion relating to land 46,424 1,679,950 43,497 684,116 19.000 Legacles Estate of Jill Ganzoni 1,231 7,891,408 1,727,605 8,637,961 Investment Income UK Overseas 2025 2024 Dividends received gross Interest recelved gross Property fund income Equalisation paynentslERI's Broker and bank interest 421,439 21,540 36,564 159,073 47,512 580,512 69,052 36,564 1,950 24,077 281,153 105,353 49,661 48,507 39,832 1,950 24,077 503,620 208,535 712,155 524,506 16
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Grants Payable 2025 2024 Charltable Donations The Ganzonl Charitable Trust British Polio Fellowshlp Chlld Braln Injury Trust Communlty Safety Education Cransford Village Hall Elmsett Methodist Church FAYAP Memories Are Golden New Cul Arts (James Holloway Youth Fund) Spill st Peter's Church, Hepworth Strongbones Children's Charitable Trust Tastellfe The Urology Foundation 2,000 1,000 2,000 1,000 1,000 1,000 1,000 1,000 500 1,000 500 2.000 2,000 16.000 The Belstead Ganzoni Charltable Trust 1st Kedington Guldes 1st Birkfield Rainbows Abbeycroft Leisure ABF The Soldler's Charity Achievers Supplementary School Action for M,E. Action Medical Research for Children Actlv Llves Addenbrooke's Charitable Trust Age Well East Alan Road Methodist Church Aldeburgh Jubilee Hall All Salnvs church, Brandeston All Salnvs Church, Drinkstone All Salnvs Church. Gazeley All Salnt's Church. Stanton Alpherton Jubllee Vlllage Hall Art Eat Events Aspect Llving Foundation Asperger East Anglia Asslst Trust Asthma Rellef for Suffolk Asthma + Lung UK AT Soclety Autistic Glrls Network Avenues Trust Group Bardwell PCC Basics Essex Beat Eating Disorders BLESMA 1,000 500 1,000 2,000 2,000 1,000 2,000 2.000 20.000 1,000 2,000 1,000 1.400 3,000 3,000 3,000 3,000 2,000 2,000 1,000 2,000 1,000 500 2,000 1,000 1,000 1,000 1,000 2,500 1,000 1,000 1,000 1,000 1,000 1,000 1,000 17
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Grants Payable (continued) 2025 2024 Charltsble Donatlons Blind Veterans UK Bliss BME Suffolk Support Group Boost Felixstowe Bowel Cancer UK Bowel Research UK Boxted & Hartest Institute Bradfield St George with Llttle Whelnethan PCC Braille Chess Association Brainwave Bramford Tennis Club Brave Futures Break Breast Cancer Now Bridge Community Church Britlsh Disabled Angling Association Brltlsh Heart Foundatlon Brlllsh Polio Fellowship British Wlreless for the Bllnd Britten Pears Arts Brltten Sinfonia Bulld Charity Burlington Baptlst Church, Ipswich Bury Drop In Canr Support Suffolk Cancer Support UK Cantley Village Hall Cardiac Risk to the Young Carers UK Caudwell Chlldren Cavell Nurses Trust Centre 81 Chelmondiston Primary School Chlld Braln Injury Trust Children Today Charitable Trust Christian Youth Ministries Church Army CICRA Citlzens Advice Ipswich Clothlng Solutions for Disabled People Colchester & Ipswlch Hospitals Charity Colostomy UK Combat stress Combat2Coffee Community Safety Education Crackerjacks Children's Trust Cranford Village Hall 1,000 3,000 2,500 1.000 2.000 2,000 1,000 1,000 3,000 2,000 500 1,000 500 500 3,000 1,500 2,500 1,000 2.000 1.000 500 1,000 500 1.000 2,000 1,000 2,000 2,000 1,000 2,000 2,000 1.000 2,000 5,000 2,000 5,000 1,000 1,000 1,000 500 3.000 1.000 500 3,000 500 1,000 1,000 1,000 2,000 2,000 4.000 1.000 1,500 2,000 3.000 1,000 500 1,000 1,000 3,000 2,200 1,500 1,000 1,050 1,000 18
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Grants Payable {contlnued) 2025 2024 Charitable Donations Crohn's & Colltis UK Cruse Bereavement Care Cyclists Fighting Cancer DanceEast Debenham Hlgh School Dennlngton Sports & Soclal Club Dennington Village Hall Dentaid Designermakers CIO Dlfferent strokes Disability Advice NE Suffolk Disability Advi Service East Suffolk Dora Brown East Anglla's Chlldren's Hosplces Eating Matters Epilepsy Action Event Mobility Excelsior Trust Families Together Suffolk Fareshare Farlingayle High School (East Anglian Schools Trust) FAYAP Felixstowe Creative Arts Trust Felixstowe Youth Development Group Field Lan8 Foundation Finningham PCC Flre Flghters Charlty Foodcycle Forces Employment Fornham St Martin PCC Framlingham Town Football Club Fresh Start Charity Friends of All Salnts Church, Hltcham Frlends of Ipswlch Museum Friends of Rushmere Llbrary Frlends of St Matys School. Woodbridge Friends of St Peter's, Sibton Friends of Woodbridge Library Frozen Llght Future Trees Trust Glrlguiding Suffolk (8th Ipswich Guides) Go Klds Go Got To Read Great Ormond Street Children's Charity Green Light Trust Groundwork East 1,500 2,000 2,000 3,000 1.000 2,000 3.000 2.000 1,000 2,000 1,000 1.500 3,500 3,000 100.000 1.000 500 500 1,500 2,000 3,000 1,000 100.000 1,000 2.000 3,500 5.000 2.000 2,000 2,000 5,000 3,000 1,000 2,000 500 4,000 3,000 1,000 2,000 2,000 10,000 4,000 3,000 2,000 2,000 1,000 1.000 2.000 4,000 2,000 1,000 2,000 2,000 2,000 500 19
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Grants Payable (continued) 2025 2024 Charitable Donatlons Guide Dogs for the Bllnd Handlcapped Childrens Action Group Happy Days Headway Suffolk Hearing Dogs for Deaf People Historic Suffolk Historic Towns Trust Hive Community Hub Hearlng Dogs HMP Warren Hill Holy Trinity Church, Ipswich Holy Trinity Church, Middleton Homestart In Suffolk Hope After Suicide Loss Hope for Tomorrow Horatlo's Garden Hour Community Hundon PCC (Rev Smith School Outreach Prog} Ilketshall St Margaret & S.Elmham St Peter Vlllage Hall Ilketshall St Andrews Church l Made This Independent Age Ink Inspire Inspire Counselling Suffolk Ipswich & Suffolk West Indlan Associatlon Ipswich BMX Club Ipswich Chamber Choir Ipswich Chamber Music Society Ipswich Community Playbus Ipswich Dlsabled Advice Bureau Ipswich Dlsabled Advi Bureau Ipswlch Furniture Project Ipswlch Outreach Ipswich Sports Club for the Disabled JDRF Jetty Lane John Grant School Just 42 Kemos Centre Kids Inspire Landseer Road Methodlst Church L'Arche Lavenham PCC Lavenham Preschool Layham PCC Lennox Chlldrens Cancer Fund 2.000 500 1,500 3,000 2,000 2,000 2,000 500 1,000 2.000 2,000 2,000 500 750 2,000 2,000 2.000 2,000 3,000 1,000 2,000 2,000 1,000 1,000 350 3,000 3.000 3,000 1,500 2.000 3.000 2.000 1.000 2,000 6,000 1,000 2,000 1,500 2,000 1,000 3,000 2,000 2,000 3.000 2.500 3,000 3,000 3,000 2,000 2,000 3.000 1,000 3,000 3.000 2.000 1,000 1,000 2,000 3,000 2,000 2,000 1,000 20
THE BELSTEAD GANZONI CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Grants Payable (continued) 2025 2024 Charltable Donations Leukaemla UK Level Two Llfelites Llquld Llstenlng Listenjng Books Little Acorns Pre School Little Lifts Llttle Ouse Headwaters Prolect London Hearts Lord Kitchener Holiday Memorial Centre Lowestoft Museum MACS Marfe Curfe MARS BPD Group Memories ar8 Golden Meningitis Now Moblllty Trust Motor Neurone Disease Association (MNDA) MS Society Muscular Dystrophy My Llfe NARA National Autistic Society National Deaf Children's Soclety Natlonal Kldney Federatlon Natlonal Youth Cholr Newlrfe Newmarket Day Centre Norton Village Hall Nurse Llfellne Oasls Engllsh Language School Olive AP Academy Suffolk On Course Foundatlon Orchestras Live Ormiston Families Omell Mencap Our Speclal Frlends PACT (Parents Concili8tlon Trust) Paradlgm Trust Parish Nursing Ministries UK Peasenhall Assembly Hall PHOEBE Playford PCC Poppies Care Fami Prisoners Education Trust Prostate Cancer UK Quay Theatre 500 2.000 1,000 1,000 2.000 2,000 3,000 500 1,000 1,500 2,000 3,000 500 3,000 1,500 3,000 1,000 1,000 1,000 1,000 750 5,000 3,000 2,500 3,000 1,000 2,000 2,000 4,000 1,000 1,000 2,000 2,000 1,000 1,500 1,000 2,000 5,000 3,000 2,000 2,000 2,000 2,000 500 1,000 1,000 5,000 2,000 2,000 2,000 2,000 4,000 3,000 1,000 500 2,000 3,000 1,000 1,800 2,500 3,000 2,000 1,000 2,000 21
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Grants Payable {contlnued) 2025 2024 Charltable Donatlons RAF Benevolenl Fund Reach React Reydon PCC Ringsfield Hall Woodland Activity Centre Ringsfield Hall donatlon Dec 23 not presented. Risby Village Hall Trust Roja Arts CIC RNIB Royal Natlonal College for the Bllnd RSPCA Norwich Rural Coffee Caravan Sailors Childrens Soclety Samaritans Second Chance Stroke Group See Your Llfe Sense Shake Festival Shelley PCC Shine Shotley Pler Signpost Solo Housing Songbird SuNival Spinal Muscular Atrophy UK Spinal Research st Andrew's Church, Weybread PCC st Elizabeth Hospice st Ethelbert, Herringswell PCC St Francis with St Clare PCC St Helen's Church, Ipswich (Inspire) St John Ambulance St John the Baptlst, Sloke by Clare St John the Baptlst Church, Lound st John's Church st.Leonard's Church, Wlxoe st.Luke's for Clergy Wellbeing St.Margaret's Church, Ipswich St. Margaret's Church, Soane Street, IpswSch St.Margaret's Church. Somerton St Mary at the Elms Church, Ipswlch st.mary Le Tower Pccllpswich Mlnster st.mary Magdelene Church, Blldeston st Marls Church Bucklesham PCC st.Marls Church, Dedham PCC st.Marls Church, Henstead PCC St.mar$ Church, Nettleslead 1.000 2,000 1,000 250 3,000 2,000 (3,000) 3,000 1,000 2,000 2,000 1,000 4,000 2,000 3,000 1,000 2,000 4,000 2,500 3,000 500 2,000 3,000 2,000 1,000 500 1.000 1,000 500 500 1,000 1,000 2,000 100,000 3,000 1,000 100,000 3,000 1,000 3,000 1.000 2,000 3,000 1,000 2,500 1,000 5,000 1.000 3.000 3.000 21.500 5.000 3,000 3,000 1,000 3,000 2,000 22
THE BELSTEAD GANZONI CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 Grants Payable (contlnued) 2025 2024 Charltable Donations St Marls Church, Otley st Marls Church. Stratford St Mary St.MaVs Church, Swilland St Marws Church, Walton St Michael's Church, Framlingham St Nicholas Hosplce st Peter's Church, Freston St Peter's Church, Henley St Peter's Church, Merton St Peter's Church, Westleton St Peterfs Stoke Park Church Status Creative CIC stowmarket Youth Theatre { The MIX ) Stowupland Falcons Football Club Stroke Association Strongbones Children's Trust Sudbury Air Cadets Sudbury AFC Suffolk Accident Rescue Service Suffolk Christian Camps Suffolk Coastal Crucial Crew Suffolk Coastal Debt Centre Suffolk Community Foundation Suffolk Libraries Suffolk Mind Suffolk Owl Sanctuary Suffolk Oxygen Therapy Centre Suffolk Sight Suffolk Wildlife Trust Suiclde & Co Sunny Days Children's Fund Support Dogs Sutton Hoo Shlps Company Swan Youth Project Tall Shlps Youth Trust Target Ovarian Cancer Tastellfe The Befrlending Scheme The Benjamln Foundation The Braln Tumour Charity The Bridge Project The Bumblebee Chlldren's Charily The Compass The Domlnic Barker Trust The Flshermen's Mission The Food Museum The FoNard Trust 3.000 3,000 3,000 2,000 3,000 50,000 50,000 1,000 4.000 500 3,000 4,000 2.000 2.000 2.000 1,000 1,000 500 3,000 5,000 1.000 2,000 1,000 2.000 2,000 3,000 4,000 5.000 3.000 2,500 2.000 3,000 1,000 1,000 1.000 500 6,000 500 1,000 1,000 2,000 1,000 2.000 500 500 2,000 2,000 2,000 2,000 2,000 1,000 3,000 2,000 2,500 23
THE BELSTEAD GANZONI CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 4 Grants Payable (contlnued) 2025 2024 Charltable Donations The Hardman Trust The Mathew Project The Medieval Stained Glass Fund The Mission to Seafarers The Offshoot Foundallon The Old Burians Trust {Gateway concert venue) The Open Universlty The Royal Hospital for NeuropDisability The Salvation Army The Seagull Rep The Sick Children's Trust The Stone Foundation The Urology Foundation The Writlle Singers Thornage Hall (Orchard Lodge) Thorpe Woodlands Adventure Centre Trust Transforming Autism Project Turn 2 Us Universlty of East Anglia (Prostate cancer research) Universlty of Suffolk Foundatlon Variety Versus Arthrltls Volunteering Matters Walpole St.Mary's PCC Walsham Le Willows Sports Club Welcome to our Future West Row Baptlst Church Whlzz Kidz Wlllow Foundation Wlngs for Warriors World Cancer Research Fund YMCA Young Epilepsy Young Llves vs Cancer Young People Taking Actlon 3,000 1.000 3,000 1,000 1,000 1,000 2,000 2.000 2,000 1,000 1,000 2,000 3,000 2,000 3,000 2,000 1,000 1,000 500 4,000 2,000 500 2.000 7,000 2,000 1,000 7.000 1.000 1,000 3,000 3,000 500 1.000 3,000 2,000 2,000 1,000 2,000 1,000 2.000 3.850 3,000 1,000 1,000 1,000 2,000 2,000 711,350 661,550 711,350 677,550 24
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 5 Governance Costs 2025 2024 Legallaccountancy and administration charges Audltor's remuneratlon for the audit of the Chariivs Financlal Statements Other costs 57,605 12.714 282 57,122 11,155 2,274 70,601 70,551 6 Employees The Charity did nol have any employees In either the current period or the previous year. 7 Trustees and Related Party Transactions In the period the Charity paid legallaccountancy and administration fees of £57,748 to Blrketts LLP (2024: £51,487). L M Long is a Partner wlth Birketts LLP. The other Trustees did not receive any remuneration or reimbursement of expenses either this perlod or last year. At 31 March 2025 a balance of £41.313 {2024.' £41,456) was due to Birketts LLP. Funds held In Birketts LLP cllent account totalled £7,077 as at 31 March 2025 (2024'.£21,520). There15 no ultimate controlllng party of the Charity. 8 Net {Losses) l Galns on Investments 2025 2,024 Realised gains Unrealised (loss) I galn Unreallsed Excess Reportlng Income 104,326 (637.015) 1.950 1,134,922 509,314 45,836 534,639 1.598,400 9 Flxed Asset Investments Total Land & Listed Property Investments Cash 2025 2024 Market value at 31 March 2024 Additions Dlsposal proceeds Realised gains Cash movement Unrealised {loss} I galn 7,615 25,514,922 367,907 4,061,091 (3,245,161) 104,326 (8,824) 132,005 637,015 25,890,444 17,226,891 4,061,091 30,772,967 (3,245,161) (23.805,376) 104,326 1,134,922 123,181 51,726 637015 509,314 Market value 31 March 2025 7,615 25,789,339 499,912 26 296,866 25,890.444 25
THE BELSTEAD GANZONI CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 10 Debtors 2025 2024 Estate of Jill Ganzonl Income Tax Refund due Lord Belstead Children's Settlement 1,116,189 23,361 23,361 1,679,950 1,703,311 1,139,550 The Lord Belstead Chlldren's Settlement has been appointed to the Trust and will be transferred in due course. The settlement has been included as a debtor at the amount actually received post year end of £1.679,950. 11 Creditors: Amounts Falling Due Withln One Year 2025 2024 Cazenove Portfolio Management to 3110312025 {involced 2310412025) CLA Portfolio Management to 3110312025 LegallaccounÉancy and administration accrual Audit accrual Charitable Donations 13,186 22.735 21,861 41,456 9,840 120.500 41,313 11,340 216.392 12 Analysls of Net Assets Unrestricted funds 2025 2024 Funds at 31 March 2025 are represented by: Investment assets Current assets - cash at bank and debtors Current Ilabilities 26,296,866 1,950,965 88,339 25.890,444 1,397,916 216,392 Total net assets at 31 March 2025 28,159,492 27,071.968 26
THE BELSTEAD GANZONI CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2025 13 Reconciliation of Net Income l (Expendlture) to Net cash flow from operatlng actlvltles: 2025 2024 Total Net incomel(expenditure) for the year (per SOFA) Adjustments for.. Interest recelvable Investment income Movement in Debtors Movement In Creditors Unrealised loss l (gain) on sale of Investments 1,087,524 9.845,342 (93.129) (619,026) (563,761) (128,053) 637,015 (145.185) (379,321) (1,104,550) 103,109 (509,314) Net cash generated from l(used In) oporatlng actlvities 320 570 7,810.081 14 Analysis of cash and cash equlvalents 2025 2024 Cash at bank Cash equivalents 247,654 499,912 258,366 367,907 Total cash and cash equlvalents 747,566 626,273 15 Analysls of changes In net debt Balance 31 March 2024 Arising from cash flows Balance 31 March 2025 Cash at bank Cash equlvalents 258,366 367,907 (10,712) 132.005 247,654 499,912 Total cash and cash equlvalents 626,273 121,293 747,566 27