ChArity r¢8iStration nunibev. 1063741 GT Foundation Annual R4￿rt and Fin8n¢lal StAtemenls for the Year Ended 30 June 2024 GT Foundation Contents (eontlnued) Roferenc4 artd Administrntive DetsilJ Truathd Report Statomeiit of Twste&* Re8ponsibilltles Indep¢ndetil Bxamln¢Ps Report Slatement of Flnan¢lal Activltl B41an¢¢ She¢¢ Notcs to the Finoncial Ststttn¢nts 7t015 GT FoundAtion Reference and Admliiistrative D¢lalls Truste Mr T M Mohsan Mrz MOl￿n Mr Philip Attdrew Walker 1063741 Ch4rlty Regl81i'Atlon Nurnb¢r PrlnelyAI Ornee Timtt T1￿hnol￿ PU Bl&ckburn Road Slmonstone Bumley BB12 7TY Peaks & V4lleys Bi￿ne&S EnbaDcLTh￿t Urnited FhEt FlLlen principles on the use of finuncial deril'alives lo m8nag¢ thesc ri8ks. The Lhai'ily does iiul Iisc dorlv&livc tiii&neiol instnimcnts lor spteullliive piirw)3C Cr¥dil rl.¥k The eharily's PTinciplll finoi)cial assels ire bsnk lyalan¢¢s ond cash, Irnde ¥bnd other iecetvable5. and inv¢slmenls. 'I'lie difiiity'x credil risk 15 primarily fjiiribiitsblc to its li￿de r¢¢¢ivllbl¢s. Th¢ amoiiii15 piesented iii Ihe blllance she¢t g1.¢ n¢1 of ollowonees foi. doubtful L'eccivabl¢8. An alloiitnee foi. ilnFKLIIIIILllI is mad¥ 4¥h￿t ih¢ir IE ali identified loss cvenl Ivhidi. bascd oil yicvious upcricncc, is evid¢iice org r¢du¢iioii in the r¢¢oi'erubility ol'lhe cash IIoiY5. Llqiilillly rljk Iii oi'd¢i' to muinlui21 liquidily lo cnsure ihal surrici¢ni fuiids iirc &Yailable for ongoing operlllions aiid fuluj d¢v¢lo)pmciils, Ilie cl)c1flty uses a mixlure of l¢)ng4emi aiid s110rt-lemi d¢bi finai?¢¢. Fui'lhL'I' details r¢L¥ni'di118 liqiiidity risk cwi Ix found in ihl Slalunent nf thccouiiliiig EMAicies iii Ilie finaii¢iul siaieitt¢ttis. The aiinu81 i'epoyl approved by ilie I￿￿teeS ofihc diaL'i¢y ¢)n.................... Aiid sigiied on its belittifb),: Mi. 7 Nlolispn ri'UsIc¢ Pa8¢ 2 CT fioiindation Statement of Trustees, Responsibililies Th¢ IIiLSteLS arc rcspot)sible 101. Pre￿rill8 the iiwstees, repo¥l und ihL linaneinl sto¢ciiienlS in acc()rdancc iviih Ihe UiiitLxI Kingdoin All()￿￿till8 SIMIKlurds' Iuniie(l King¢kni GciKrall)' ALcepled A¢¢(buntiiie PraLlic¢) thid npplicubl¥ Iiiii. rLg¥ilalioEIs. The lilll, iippIiLiible 10 LhaiiliLS fLNiiircs ihL Irust¢Ls ty wepure finun¥iHI stsitClllLiil¥ foi. eu¥h fiL)¥nLiiII )ieiir iiliiL,II giv¢ ki t¥UL at)d tllii. Vi￿]r ot thL 81olc ol. tslTair.% uf ihc ¢hariiy ol. thc incoming It50ufLes aiid &ppli¢aLion or r¢sOuVLL￿ l)i' IIIL Lhiiriry fui. Ihat period. In pi'rwi'iii¥ Il)ew fii)aiiLial siaic1i￿nts, tlic I1￿1￿¥5 aiL' r¢¢iuircd In.. sLlcLt 5ui1lblc ftCLOlllItIll8 policies 14 ihcn ttpply (liei)) ¢onsisiciitly'. ob5¢1'vc IIIL m¢ihod$ anil pl.incipl￿ in the Charities SnRP- InThke judgemeiils eslinial¢S ihai arc re0s0￿7bJc and pnKknl: ,$IAIL Iiil)¢ih¢r ypplicnble ult￿￿TrI1￿g sitsndurds hnvL bciyi fulluivul. Mibje¢l lu wiy malei'illl ii¢partui¢s disLlI)sed aiid &xplainLd iii iliL linancial Aaiemeiits. atMI l)leP¢1re Ili# finJii¢1￿I %uieiiient% Ilie wing cDncern h&%is iinlcss il is inapiimprialc 11> i)r&suiiic Iliai ¢h¢ Lh4YiL)i H'jll iunlinuv in businesb. The iiii%i¢es ale resiN)nsible lor keeping prupLr acwui)ling recDrd% I1￿ di¥ilose i¥id) r¢o8onnhle llcciiroc), al #iiy tiiiie the finunc4471 yosliyoi) fil'11)e clinrily nnd entsble lhel￿ io ensure 1114L ihc fii)ancial stht¢iii¢nis Lninpl), Ivltli 1lJe Llini'itiC5 A¢1 2011, Ihc LIIJL'ili¢$ (Acttjiinls Dnd R¢portsl RLuiila¢ion8 2(JUX. nnd ihc piuvisiuiis ol. Ihc ¢uiisii(Iition. -Ilie li￿slee8 41fL illg) ￿rrt)nSIblQ for sal¢g114Lrdin8 Ilie USSL'l% of ihc L,h#rily Hnd h¢nLL. foi. tuki118 rLuson¥ble s(eps fvy ihy PlLYL'ntion (lelecliun of fruud uiid oiliyr irregul&riliL¥. Thr Ii'ustLe5 ar¢ r¥spoiisiblc loi. Ili¢ iiioinienai)Le anil inl¥grily of dic corpnrllie dl)d Iiii¥iiLial inloi'maiioii incliided Dn Ilic ch1& I'iiablL l￿11)I)anY,% iyebsiie. l.e8islaiion goiierning ilic piepw'iilioii lind dissLI)iinolinn ot linAn¢iJS slalLmen13 111ov dillcr Irom Ic8islolion in oihLr jurisdiLlivns. Appr()veJJ h>. Ihc Inislccs ijl'the churiiy on ,.. . iiBneJ vctwo P￿.10d8. The fuiids b￿￿kdOwn lor 2023 Is thown 51] nok 14. The notq8 on pgges 7 to 15 f￿M an Inte￿7 partof th¢s¢ fin?n¥ial at4temLnL%. Pag¢ 5 GT Foundatlon (Registralioll number: 1063741) Balaiice Sheet as at 30 June 2024 2024 2023 Note Flx¢d a35ets Tangibl¢ as$els 152,922 159.015 Ciiri'ent av¢ts Dehl(bi's Cash ut bank and in hon(1 10 206 Ili652 207 103 911 15,858 104,118 Cro41itois: Amomnts fAlllng di1¢ wl¢l)in oilc yeAr Nel euri'emt Ns5¢18 12 (59 1301 159.563 56,728 44,555 Net Aisct 209.650 203,570 Fllnds of th¢ ehAI'lty: Uiireslrlcled Iricom¢ funds Uiir&slri¢tcd funds 2LVJ.650 203.570 TotHI fiiiidg 2(J9,65Q 203,570 1'h¢ finllnLiiiI slolomeiiib on pn¥¢3 5 1<1 15 ML.￿ approved by the Irustees, Ind 8uilivrisrd for issue on and.sigiied on thcir b¢h&ifb}.' Mi. Z Mo1￿81) Ti'uslee Th¢ noles on pa8es 7 to 15 10rn1 on in(eBral port of.1h￿r linancial Siatcmcnls. Pa8e 6 GT Foundatlon Notes to the ￿￿￿￿e1￿1 SthleLnents for the Yeai. Ended 30 Julie 2024 l Accouutln% pollci¢$ St8t¢m¢nl Dfcompll#n httve be¢ii pr¢pared undur the lii51orical cost conv¢nlioii wilh iiem5 recuyni8exl Rt Lost oi. trynstt￿lQrt value un1¢5J Othprwise Jta(cd in tbe Id¢vaTrt nole(s) to these actounts. G¢tsig ¢on¢¢i'n Th¢ twsroe8 con8Ldtr that the]% ftr¢'no inaterSyl uncertelnlie4 ai*iut the charity's ablllly to contlnuo ai a goln8 Vol1￿18).Y In(OMe In¢luding donotlons, 8ill& 1¢88cies wid 8rnnts thal proylde CDro fvnding or ore of a gen￿￿1 ft&lure is reLognl8a when the chirily enlitlen)ent Lo the Incon￿ It Is ￿￿babIe t]iat the Income will b¢ y¢￿1ved the amount be ￿e￿ured wLth suniclcni reti¥bilily. Ilo•iallftiLf le¥u¢'ley Donylioiis and legacles 8re mo¥nl¥¢d on o ye￿1V￿bIe receipt is prob¥bl# atid t1￿ aniount uan be r¢littbly nieasw'cd. Expenilkui'o All expendlturc 18 rccognised once (hero is o l¢881 or conslrndlve obllgation to ithal exp¢ndlture, it is P￿b&￿Ie 8rtlluncnt 1$ Yequiird arkd the Amoiiii¢ ¢￿) bc M￿Sure￿ r¢llobly. All ¢oyLi allocul¢d to thc npplicabla expe1idiE￿1e heuding that aB8rcgJie simllw. Co8￿ to that c8t¢goiy. Where c¢)sts ¢*inot be direeily Bllrlbul¢d io pxrliLulur h￿dI￿¥S thcy huv¢ been 8lloLuled nn A basis Ubnsi8lent with thc of resour￿8. with ¢vnlrdl CO8ts allocalcd Ihe basls of tlm¢ spent, d¢precl¥lion chai'ges alloc8td on th¢ PDI'tlon of tl)¢ dS8#t'3 1)3¢. Otlk¢l' Jupport 4rtt 811ocAted t%￿ed on tho spr￿1 (If ¢J)8t6. Gov¢rnAll¢¢ ¢OJtS These iuLILI(l¢ the costs nltribulmblc tu the chai'ity'N mplionc¢ with wn3t1lut1on￿ ond 81otutory roqiilrempn(3, Including uud51, Bts'ut¢8ic mAnAgem¢nc and tnssi¢c% m￿n83 and reimbwsrA EXPCMes. The diarily 18 consid¢xed to P8&8 Ihe te5￿ set out kn Parw?ph I ,8chcdula 6 of Ihe Finanoe Acl 2010 Ind IhcrcFore it meets ihE dcfinitlon of A ¢horitablc for UK coi'porntlon lak. purposos. Ac￿rdinglY, Ihe oharfty 1% ]x)tenll&lly ttxempt from 14x5Llion in ra8PCCt of Income or capital gains Irc#3ved wiflilii c&tegori covered by Chupler J Piwt I l of th¢ c01pon￿10ll Tllx Act 2010 or S¢b'lion 256 of the Tuxkitiun of Chtwgoubl# Galrns Aci 1992, lo the exl¢nL thlll Au¢h ineom¢ ot Boins are applied ¢xclusivdy lo charliable purwse%. Page 7 GT FovDdatlon Notes to the Flnallclal Stat¢ments for the Year Ended 30 Julie 2024 (Collllllued) Tanglbl• llxed Ajaets Indivldu&l tixed assets are initlRlly r¢c4Mthd at cosL less any Jthcque4rt acoumulBted d¢pJtciedon and ub8eqiiont accumulated impoinbC4t losse& D¥proclAllon Jmorfls•tlon Dopr￿18t1Ots ia provided on tangible fixed 4&8Qts so ￿ to Thrit¢ off the co81 oi, valu8tion. less ony utimated residual valuc. over tiwir oxpeol¢d us¢ful a￿￿ornkS life ￿ followA: Aaalt cllas Flxtsjie & Ilttin8S Comput¢r ¢quipm¢nl D•preelalloll metliod Rnd rat¢ 25% RB 25% RB 'Ade debtoT du debtoi's 8r¢ fimowjts dut frorn ¢wlomers for muck￿dIsC sold or swvk¢8 performed in the ord5nary eourso of busin¢8S. TKade debfon are reeognlsed initially Rt the transadlon price. Thoy are subs¢qu¢ntly m¢isurnd gt coit U811i8 tlie effe¢live Int¢Yesl metli0￿ less pfovi8jOD for impaim)ent. A provision for the il*PRilTnent of trAde dcbiors Is ¢yknbllahed wh¢* Ih¢rt is obJ¢¢live eyldence thAt lh¢ ¢Jwlty will nol be obl¢ to collt¢l All Aftwunts d &¢cordrii8 to the 0118iiiol tcrn)g of the ￿ceIvable&. And equlvyleDts Cgah gnd ¢wh equivalffit$ eompAse cath pn hDnd And call depoylis, wid othei. 3horl-t¢rm highIy liquld Invejlmeiits Ihal 8re T¢Jdlly conv¢rtible to a known amount of ¢hih and 8ubjecl to wi 1tts18t￿fICfviI1 rlsk of ohon8¢ In ydue. BorTh)wln liileK8t-b¢￿'ID¥ bonvwlnBS Initlally recoNl¢d at f4ir valu4 n¢t oc tr￿J&c110n ￿Sts. Jnt0rQrt-b￿I1ths borroivlng8 are Bu&814uenily car¥lcd &[ 8rn1)rtlsed cn81, with the difference betwrxn Ihe prDL'ecds, ftet or li.an￿ct10n oosl4 Ihe amount duv oj) redemplion ￿1￿8 recogfjls¢d as a chB(8e to lh¢ 814temenL ofpit)an¢lal A¢ilvIii￿ over the period ofth¢ Itl¢vant ly)￿0￿ving. Inteirst expense IJ re¢ognised on the bmsls of the ¢ffectsvG Iiit¢resC meilwd and Is ltt¢luded In lTht&tst pAyablc and slmilHI' cliarye8. Bormivlnss are cla88lfied as current l1thlllii￿ tho ¢harliy has aTr uncondl¢ional right to defeT xetii¢meni of lh¢ Ilability for Rt leyst l%i*lvB months after thcwDriln8 date. nd strnclure Unirsli'lctod Ineome fuiids general tiiTh(L% that are AYallabl¢ foriv at th¢ Iru$tees dl8¢r¢tion In knrthtrnn￿ ol. tho obj¢dives ofthe Oh￿￿ty. Pagc 8 GT Foundallon Noles to th¢ Fiyaneial S174tem¢nt& for the Year Kud¢d 30 2024 (eontlnued) Ptnslons fiDd L)ther yoit rotlreynent Dbllgguon The chwity operates a defill￿1 COJLtyibution penslon 3them¢ which is a pensioti plan urtder whi¢h fiKcd ¢ontribution8 arc pald Into a wslthj futkd 2nd lh¢ charfty has no l¢g41 or constrLBtive obllgalion to psy liirihei. coiiti.1hLILiort5 even If the fiind doG5 not hold 8uffl¢ieffil as3cts lo pay all anployea8 die benefits relailng to ¢rnpl()yee 8eThl¢¢ In the ¢urr¢nt and wlor pe¢iod8. ConLYlbullonE to dttflned Lontributlon pl￿8 are YeLx)gnis¢yl in the Siat¢rnent offiittW)Llkd AGiiviliets whem they al'e du& If ¢ontrlbutiOtt PfLyM￿l￿ exceed thocojitrlbution due for the ex¢ess is KecoBn13ed as Clos&lfi¢niloii Finllncial a$s¢ts aDd flnat)olal Ilabllluu tre recogni8ed th¢ cjwity be￿m¢S a party to the Mntraotual 'ov18ion8 of Ibe iD&INmGnL Flnanol&l Ilablliilc4 ttnd equlty Inskuments Hrc elasglfled ￿￿ordIng to th¢ 8ubslonce of the eonlvaclual attangements onleyed Into. An cquity inairument 18 any contrad that evidences 8 reSId￿41 inierost In the of lh¥ thfirity after dedU￿lA8 all ofits liobUIIIu. RecogxllloA All tinonGial aaaets and liabilities aiT initially mcJJured 01 trfjnsaction Pri￿ (iiicluding Irnn8action coslsl, except foi, th9￿ fin8rtcl&l assets ¢lAsslll¢d hs )1 lair val￿¢ through pmfit or loss, which initially In¢88Urtd dt taiv value (whldi ly nornijlly the trabsacuon price ex¢ludln8 tfansudion c05ts). unless thc Hrian8Ement constiiules natt¢ing Iroiisiicllon. If an Amngemwit ¢ons(Itul¢8 n financing lrnfis￿t10n, Ihc fjnwnclal a8scI or fjnanclol lillbilily Is measured at the pi'esenl VAlue of the DJThtr¢ EHyments di8c(Junted at o inarket of inlcresi for a slmilor d¢bc InstThunm¢. Flnonvial w&sets and Ilablllll&% ar¢ only utrsd in the 8tat¥rn¢nl of finoovial w)3iiloii Wh￿1, only wkn￿) Ihere cxlsts a legally enfoi'c04blc riBhi lo set off ihc r¢co8iiised 8mounts ￿ld th¢ chaTity int¢nds eilh¢r lo seid¢ on & not basls, OT to realisc the &8set artd selt1¢ lh¢ Ilahility simult&rww$ly. Flnftii¢lol ￿se1S are der¢co8niyed iwhen wid ortly ivh¢A 8) the conlrn¢luThl rlghts to the cash flows frnm ihe linanclal aisct ¢xpliY or &r¢ settled, b) Ihc GhpriLy Irpnsfers to inoiher perty subgrnnlially all ol. Ihe i'isk8 klrtd Tcward8 of ownu311ip ot. the fill￿¢￿￿1 Thssel, or c) the GhRI.ity, desplie having iylBined soine, bat no¢ all, $18iilfieaii¢ rlski aiid i'ewllrds of ownetshlp, hos transr￿Trd control ofthe a88¢t lo anothei pwty. Fin)IlLlal Iliiblllil¢s ore dwe¢o8nixd only when th¢ obliBthtion SP￿lfIed In Ihe coRtr4Ct is di3uhai5ed, u)É]cellL¥J or explr¢8. Page 9 GT Foundatio Notes lo the Yknancial Statements for th¢ Y¢ar Ended 30 Jvne 2024 (eontlnued) D¢bIl￿truMejits Debi Inslrutnents ivhlch In#t the following ¢ondilion$ subsequenuy m￿￿e4 4¢ ulloili8ed 118lrtg th¢ effectiv¢ intertt5tmdt￿d.. (a) The contyactual rgturtt kn the holdei is (A) a fixed amount. (11) a posilivo fixed r*te or A pisitivts varlablo rot¢. or (ill) a combiiiolion of &posliive or a ne8AilYe fixed rat¢ a posiliye vori8bl¢ Ixl (b) Thc ￿1)Iracl may pffovide foi lE￿YMents of th¢ prlnclpal or th¢ r¢tum trj the holde¥ (but both) lo be linked to a slngle I'elev8n£ obs¢bwabl¢ Index of gerÈttal prlez Inflation of thc ¢w'renay In whlch Ihe debt ItJ8tsum¢nt is denomln&lcdJ provi￿ not Corm poitof th¢ statutory tinanclal statements. Page18