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2024-03-31-accounts

COMPANY NO: 03522188 CHARITY NUMBER: 1068617

THE EDWARD GOSTLING FOUNDATION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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THE EDWARD GOSTLING FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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|||||||||| |---|---|---|---|---|---|---|---|---| |Page| |Chair's|Review|1| |Trustees’|Report|including|the|Strategic|Report|2-22| |Trustees’|Responsibilities|23| |Independent|Auditors’|Report to the Members|24 - 26| |Consolidated|Statement|of|Financial|Activities|27| |Consolidated|and Company|Balance|Sheets|28| |Consolidated|Cash|Flow|Statement|29| |Notes|to|the|Financial|Statements|30|- 49| |Appendix|1|-|Detailed|Schedule|of Grants|Paid|50|- 54|

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THE EDWARD GOSTLING FOUNDATION CHAIR’S REVIEW FOR THE YEAR ENDED 31 MARCH 2024

As previously reported in 2021, we have decided to spend out and use our reserves in a concentrated time frame, with a focus on supporting 164 charity partners or, as we now cail them, our Legacy Pariners. We are also helping to fund major capital projects brought to us by new partners, with the aim to add capacity, promote sustainability and bring about a step change in the way care is provided, To this end, we set ourselves a target of spending a minimum of £100M on charitable activities by 2031, averaging around £10M per year against an historic average of £3M.

During the year, to provide greater oversight of the higher grant awards being generated through ‘spend out and the need to manage the increase In cashflow, Trustees agreed to meet 6 times a year rather than 4 to 6 and at the same time disband both the Grants Committee and the Finance & Investment Committee.

| am delighted that 3 years in, we are already ahead of target having committed £36.7M. Of this total, £12.4M was on new grant awards pledged in the 12 months to 31° March 2024, Including grants of £7.5M to Legacy Partners and £2.6M on major projects helping to provide additional capacity for 5 new partners through our capital projects programme. | am immensely proud of my small but committed team of 5 part timers who have achleved this alongside visiting 62 grantees and everything else they do in managing the operation. My sincerest thanks to all of them and also to my fellow Trustees for their continuing support and commitment and generous giving of their time, skills and experlence. Our 164 Legacy Pariners deliver vital services that support our Vision “that people living with a mental and/or physical disability or a long-term iliness should have the same choices, quality of life opportunities and aspirations as others”. We have worked with all of them for many years and the vast majority are small, grassroots organisations working in some of the most deprived communities of the UK. They play a vital role in caring for some of the most disadvantaged in society and help to make positive life changes. Over the years we have worked together, these small organisations have demonstrated their ability to make a huge difference in improving lives and strengthening communities. Our funding to this group, which is primarily through the provision of a controlled reserve, seaks to offer a level of financial resilience which will help to support thelr sustainability for the foreseeable future. We know it's the right thing to doa when you receive comments like “ honestly don't know what to say, we are ail sat here in an absolute state ofshock | Thank you 30, so, very much! f cannot even begin to tell you what this means to us, it is liferaily the best thing thal has ever happened”.

Our major capital programme which is open to new partners was only launched last October but already, through these awards, we are seeing great strides being made in achieving our primary goal of building new capacity alongside significant elements of innovation helping to change the way community care is delivered. More detail o' ¥. r activities can befound in the Case Studies and Strategic Report thatfollows:“pre a KO DN Taylo C) Chair DO -12. D4

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THE EDWARD GOSTLING FOUNDATION TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees of The Edward Gostling Foundation ("The Foundation[n] ), who are also Directors of the charity for the purposes of the Companies Act, present their annual report for the year ended 31 March 2024under the Companies Act 2006 and the Charities Act 2011, together with the audited financial statements for that year. The financial statements comply with the Companies Act 2006, the charity's governing document and the relevant Statement of Recommended Practice (the Charities SORP (FRS 102).

REFERENCE AND ADMINISTRATIVE INFORMATION

The Edward Gostling Foundation is a registered chart y, registration number 1068617 and a company limited by guarantee, company number 3522166.

Registered Office The Edward Gostling Foundation Parkside 33-39 Sheet Street Windsor Berkshire SL41BY

Trustees, Directors and Members

The Trustees {who are also Directors and Members of the charity) who held office during the year were as follows:

D N Taylor Chair(1)(2) VE Hoskins Executive Trustee Resigned 30 June 2023 CM Erwo Deputy Chair (1) CJ Clarkson RP Meadows CA Sawyers J J O'Sullivan MBE (1) S C O'Sullivan J.M. Holmes Appointed 30 June 2023 RF White Resigned 31 July 2023

M A Street QBE was appointed as President Emeritus 1 July 2022.

(1) Members of the Remuneration and Nominations Committe (2) Members of the Executive Board

During the year an indemnity insurance policy was maintained for the Trustees.

Company Secretary P Morris

Key Management

CJ Kendall Joint Managing Director (2) P Manis Joint Managing Director & Company Secretary (2) S Birch PA to the Board (2)

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

PROFESSIONAL ADVISORS

Auditors

Crowe ULK. LLP

Sth Floor R+ Building 2 Blagrave Street Reading RG1 1AZ

Bankers Lloyds Bank Plc 33 Old Broad Street London EC2N 4HZ

Asset Managers

Investec Wealth & Investment Limited 30 Gresham Street London EC2V 7QN

CCLA

Senator House 85 Queen Victoria Street London EC4V 4ET

Investment Advisor DMJ Consultancy Services Limited Tempus Wharf, 29a Bermondsey Wall West London SE16 4SA

Solicitors

Russell Cooke LLP 2 Putney Hill London SW15 6AB

Property Valuers

CBRE The Quay, 30 Channel Way Ocean Village Southampton $014 3TG

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Foundation, incorporated in February 1998, is a charity registered with the Charity Commission, number 1068617 and is governed by Memorandum and Articles of Association (last amended 24 June 2021).

Governing Body

The members of the Governing Body are detailed on page 2. At every Board Appointment Meeting one third of the Trustees are subject to retirement by rotation. Retiring Trustees are eligible for re-appointment if a three quarters majority resolves.

The Boare may appoint one of their number as Chair and thera is no fixed term for this office.

Charity Governance Code

The Trustees have reviewed the Charity Governance Code recommended by the Charity Commission. The code is not a legal or statutory requirement however Trustees believe it demonstrates good practice and regularly review to see whether improvements to current practice should be made.

Remuneration Policy

The Remuneration Poticy applies to all employees.

It is essential that the Foundation’s Remuneration Policy allows it to attract and retain people with the right values, experience, knowledge and skills required to lead, manage, support and deliver its strategic aim. Trustees of the Foundation believe that having a competitive reward offering is one of the many ways in which they can secure the very best people who are capable of making a significant Impact on the delivery of these objectives.

Ths Board of Trustees believes the Foundation’s benefits package should be competitive and the market sector used for making thls assessment will depend on the relevant area of profession the employes is recrulted from, the complexity of the role and the value of the level of skills, knowledge and experience which is required to perform the role effectively. This can range from the not-for-profit sector such as other charities of similar size, thraugh to local government, the civil service, financial and other investment seciors,

The Foundation seeks to recruit and retain staff through being a model employer, recognising the impact of work on people's overall health & wellbeing and their family life regardless of their gender. Through its HR policies the Foundation recognises the benefits that can accrue through offering a living wage alongside best In practice policies on flexible working, adoption, matemity and paternity leave, unplanned absences, holiday entitlement and pension arrangements.

Performance Related Pay (PRP) is available throughout ail levels of the organisation. The Foundation recognises both operational and financial performance in excess of budget targets through the payment of PRP, with individual KPIs set at the start of each budget year. Individuals undergo an annual performance appraisal which ultimately determines the level of PRP award. Any awards granted may be allocated in part or in whole as a consolidated salary increase and/or a lump sum non-consolidated bonus or be deferred as part of a longterm incentive plan.

The Board of Trustees is responsible for defining the Remuneration Policy and deciding on the remuneration of the Executive Team. The Board delegates this responsibility to the Remuneration and Nominations Committee. The composition and timing of the meetings of the Remuneration and Nominations Committee are set out in its Terms of Reference.

Reasonable and proper remuneration can be paid to any Trustee for services undertaken in the administration of the Foundation providing they withdraw from any meeting whilst such remuneration is discussed and that at no time must a majority of Trustees benefit from such remuneration.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Organisational Management

The members of the Board are legally responsible for the overall management and control of the charitable company. The Foundation’s financial year runs from 1 April to 31 March and Trustees aim to meet at least 6 times per year.

As noted above, the Board has delegated some powers to the Remuneration and Nominations Committee. This Committee meet formally at least once during the year and Trustees, regardless of whether they are members, are invited to attend the meetings.

The Trust is run on a day-to-day basis by The Executive Board who are supported by a small team to enable applications to be assessed and grants to be made within the criteria laid down by Trustees.

Under the delegated powers set down by the Trustees, donations up to £50,000 require the approval of 2 Officers with the same or higher approval authority. Grants between £50,001 and £250,000 must be authorised by the Executive Board, with charitable expenditure over £250,000 requiring the approval of the Board.

Recruitment and Training of Trustees

Potential Trustees are identified by members of the Board and considered by the Remuneration and Nominations Committee against the Board's requirements concerning eligibility, competence, specialist skills, diversity and knowledge gaps. They seek to achieve a balance of experience and background. Open advertising is undertaken when necessary. Training is regularly offered to all Trustees and when particular areas are required to be addressed, presentations are held at the Board’s meetings. Further training is offered at seminars and through briefings. There is a comprehensive induction process for new appointees to the Board involving briefing meetings with the Executive Board and a documentation pack is circulated to all Trustees annually which contains the latest policies, procedures and business plans, as well as formal legal and statutory documentation.

OBJECTS & PRINCIPAL ACTIVITIES

Objects

The objective of the Foundation is clearly articulated in its ‘Vision’ "that people living with a mental and/or physical disability or a long-term illness should have the same choices, quality of life opportunities and aspirations as others”.

The Foundation proactively works with a limited number of Legacy Partners supporting a range of projects that reflect its ‘Vision’ across “4 Life Themes”. The Foundation also encourages applications of up to £250K from other charities for major capital projects which help Trustees achieve their goal of building new capacity alongside significant elements of innovation which together bring about a step change in the way care in the community is delivered. More information is available in the guidelines published on the Foundation’s website at httos://www.edwardgostlingfoundation.org.uk/capital-grants/

Principal Activities

The principal activity of the Foundation is the award of endowments to its Legacy Partners and capital grants to other regulated charities to financially support a wide variety of projects that meet its Charitable Vision. Applications for capital grants are not accepted by post or e-mail and applicants are required to register online with us to be able to apply for grant funding, via our website, at www.edwardaostlingfoundation.org.uk

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

STRATEGIC REPORT

Aims and Objectives

The Foundation’s ‘Vision’ is that people living with a mental and/or physical disability or a long-term illness should have the same choices, quality of life opportunities and aspirations as others more fortunate than themselves.

In pursuit of our ‘Vision’ and to enable us to concentrate on the ‘bigger picture’ of Charitable ‘need’, the majority of our giving is through our ‘Legacy Partners’. Our financial support enables them to work more readily within their areas of expertise and thereby deliver projects supporting one or more of our “4 Life Themes”.

We are extremely proud of the long-term relationship we have with all our remarkable Legacy Partners and are proud of the high-quality services that they provide, with a personal touch, in support of those for whom our “Vision” seeks positive and lasting change. These organisations reach out to some of the UK’s most disadvantaged people.

The Foundation also operates a Capital Grants programme designed to achieve its goal of building new capacity alongside significant elements of innovation which together bring about a step change in the way care in the community is delivered. More details can be found on our website at httos://|www.edwardaostlingfoundation.org.uk/capital-qrants/

Details of some of the grants we made during the year can be found on our websites at httos://www.edwardgostlingfoundation.org.uk/news/ and a list of grants awarded of £25,000 and above can be found on pages 50-54 of this report.

Case Studies on recent legacy awards can be found on the following pages.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

HEALTH & WELLBEING

Improving people's physical/mental health and general welfare

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Thames Hospice in Berkshire has been a longstanding partner of ours, having previously benefited from substantial grants towards the education suite at their state of the art hospice and, more recently, a non-medical prescriber nurse training programme. It was a natural choice therefore that they should becomea legacy partner as part of our long-term commitment to ‘helping people remain independent’.

In December 2022, the hospice enhanced its ‘Hospice at Home Service’ with the launch of a ‘Virtual Ward’. Initially piloted for 18 months with funding from the NHS, the pioneering doctor-led service cares for acutely unwell patients at home, with the hospice’s Multi-Disciplinary Team providing vital clinical care and support to help keep patients with complex palliative and end-of-life care needs at home, if this is their preferred place of care.

In April Thames Hospice were thrilled by our Trustees’ decision to fund a significant proportion (£1.5M over the next five years) of the funding required to enable them to continue to invest in and develop this service. It is widely acknowledged that demand for local hospice care will significantly rise over the next 10 years and we wanted to be part of the solution to enable more people to be cared for at home thereby reducing pressure on the hospice and hospitals and giving people choice.

The Virtual Ward has been enormously successful, supporting over 150 patients since its launch, relieving the pressure on the Hospice’s Inpatient Unit and enabling patients to be discharged more quickly from hospital. Patient, Michelle (pictured) lives with chronic obstructive pulmonary disease (COPD) and recently accessed the Hospice’s Virtual Ward Service. Michelle said, “ was really scared. | had never felt so poorly. | thought this is it, this is the end. Without the Thames Hospice Doctors treating me at home, | don’t know where | would have been. | was so frightened but the Hospice at Home Team were there for me”. The Virtual Ward enabled Michelle to get the vital care she needed in the comfort of her own home. With daily visits from the Multi-Disciplinary Team, led by the hospice’s team of doctors, Michelle’s infection cleared and her symptoms were back under control within two weeks.

Fundraising Director Jane Symmons said:- We are enormously grateful to all the staff and Trustees of The Edward Gostling Foundation for their vision to support the future of hospice care. Following the end of the pilot programme, we knew our Virtual Ward needed to be a core offering and, through this long-term gift, we can now plan our care, think to the future and give patients choice about where they want to die”.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Health & Wellbeing continued

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Phyllis Tuckwell Memorial Hospice is one of the oldest hospices in south-east England having been in operation since 1979.

At the end of September 2023, we received a capital application from the charity seeking support to help them build a new hospice to address the urgent need for additional palliative care in Surrey and Hampshire. With our help we are delighted that the new hospice is now under construction which, with its rehabilitation and education suites and specialist 18-bedded In-Patient Unit, will house hundreds of palliative care professionals including doctors, nurses and specialist clinicians.

The facility is being built in Farnham, Surrey and will replace the old hospice, which was sadly no longer suitable for purpose, nor able to meet the extraordinary demand there is for palliative care in the area.

The design ofthe new, larger hospice (pictured above) will help improve both the physical and the mental health of patients and visitors. With cutting edge equipment and facilities, it will support patients and local families, including young children. It will connect visitors to nature, be wrapped by beautiful, landscaped gardens and will be sustainable and energy efficient. It will serve a community of over 550,000 residents across West Surrey and North-East Hampshire acting as a hub for Phyllis Tuckwell’s wide range of services which will allow the charity to care for thousands of people in the Hospice and in people’s own homes which is where most people wish to spend their final days.

Construction commenced in March 2024 and is expected to complete in early 2026.

Sarah Church, Chief Executive of Phyllis Tuckwell said:-“By building the new hospice, we will be able to expand our services and dramatically increase the number of people we can reach. As a result, tens of thousands more people will receive the end of life care they need and deserve. We are tremendously grateful for the Foundation’s substantial support of £1.5M towards this ambitious and exciting venture”.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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INDEPENDENT LIVING AT HOME
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Helping people to live independently
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Founded in 1991, Autism Bedfordshire is the only voluntary organisation in the county of Bedfordshire that is
specialised in supporting autistic adults and children, as well as their families. They offer a wide variety of
services, training opportunities and clubs to children, young people and adults to help them in their daily lives
promoting socialising, skills development, employment and advice.
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Earlier in the year they made a capital application to us seeking funding towards the shortfall in the purchase price and extension/adaptation of two semi-detached bungalows they wanted to transform into a single, supported living house for adults with complex needs. Emma Reade, CEO said:- Autism Bedfordshire believes everyone has the right to safe and appropriate housing, embedded in a community. We would like to express our enormous thanks to The Edward Gostling Foundation for their donation of £100,000 from which we have purchased the first 3 of a proposed 10 properties to create 2 modern, supported living homes, initially to provide a home for 7 autistic adults with learning disabilities, neurodevelopmental conditions, mental health needs and other complex needs. These vital new homes will allow them to move out of institutions, stay local to family and the community where they grew up, enabling our charity to provide bespoke supported living for extraordinary people in a safe, welcoming community.

As well as the direct impact on the lives of our residents, the contribution from the Edward Gostling Foundation will also make a positive difference to our long-term resilience in supporting us to generate an income, helping create more impact across our membership and services, serving over 2,700 autistic children, young people and adults throughout Bedfordshire, Milton Keynes and Hertfordshire”.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Independent Living at Home continued

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The Link Visiting Scheme based in Wokingham has brought vital, life-enhancing social connections to vulnerable
people, particularly the elderly and volunteers for over 25 years. The charity's work is to combat loneliness which
is widely accepted to be one of the largest health concerns we all face, being both painful and harmful to people’s
health and putting us at greater risk of developing dementia, heart disease and depression. Through one-to-one
befriending, friendship groups, activities, events and long-term projects such as Community Kitchen, the charity
has transformed thousandsoflives and provided friendship and focussed attention on individuals who otherwise
may have been feeling invisible and forgotten. As a legacy partner we awarded them a £100K endowment which
Trustees wanted to provide them so that they will have certainty in their operation over the coming years.
John Mallaghan, Chair, Board of Trustees, Link Visiting Scheme said:- “On behalfof the Link Visiting board
of Trustees | would like to express our huge appreciation and thanks to the staff and Trustees of The Edward
Gostling Foundation for choosing us as one of its legacy partners. We are facing substantial challenges in
managing the continuing rapid growth in demand for our services. In addition, we are entering the final year of
our current local authority contract with no guarantee current levels of support will continue.
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EGF’s support will enable us to face our challenges in the coming years with much more confidence. After 25 years bringing kindness and joy to some of the most vulnerable in the community this will help set us on the path to confront loneliness and celebrate friendship for another 25 years!”.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

RESPITE

Recognising family carers for the fantastic and vital work they do

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Accuro, a charity based in West Essex were recently delighted to receive a £105K endowment from us which will help them to continue supporting local children, young people and adults, together with their families, with a wide range of social and life skills-based activities. The activities they provide help to reduce social isolation and allow their members to gain confidence and make friends, which in turn improves self-esteem. The charity's services are run by trained and passionate professionals who flexibly tailor their services to match identified need. Families and carers of those they are helping benefit by receiving much needed respite as is evidenced in the case study below.

Lynn a parent of a member said:- “My son is 13 and has autism. We moved to Waltham Abbey last January and | was looking for SEN supported activities that he could get involved with. | got in touch with Accuro and soon after he was attending their holiday scheme. | was impressed from the start and realised the staff are experienced. | felt confident that if something triggers my son that they will de-escalate it quickly and his selfesteem would still be intact. | am a single parent and having a bit of time to myself is crucial to me maintaining my wellbeing. Accuro allows me this because | have so much faith in them and can relax when my son is in their care. Accuro's clubs are a great opportunity for my son to enjoy and participate in inclusive events with amazing staff’. Alison McKeown Senior Operations Manager said:-“Thank you so much to The Edward Gostling Foundation for supporting Accuro (Care Services). Your funding and support means that we can continue to provide a wide range of social and life skills-based activities supporting almost 200 children, young people and adults with a disability across West Essex and provide much needed respite to their families. Together we are making a real difference, improving lives and helping keep families together’.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Respite continued

Yellow Submarine is a charity that believes people with learning disabilities and autism deserve to live life to the full. The charity was founded in 2009 to provide respite breaks but today it is a significant provider of a wide range of projects for learning disabled young people (11-18) and adults across Oxfordshire. We have been supporting them for a number of years in their endeavours to run respite opportunities and other vital projects which include social clubs, activity days, residential holidays and traineeship through their social enterprise café’s based in both Oxford and Witney. Through their services they promote independence, confidence and a sense of self-worth and in October they were awarded a £250K endowment to give them greater certainty and flexibility in their planning going forwards. We are delighted to have them as a legacy partner.

A parent of a young person who has benefited from a respite holiday with them said:- “/ wanted to say thank you again for taking R on holiday. He had a great time, and it was important to spend time with some younger people, rather than just mum and dad. It was also the first time for 23 years (since R was born) that we got to spend a couple of days away on our own together — so it was quite important for us too!”. Kate Sankey, Co-Director said:- “The fabulous support from EGF has given Yellow Submarine the confidence to grow, to reach more people and to serve them better. While our activities are centred on fun times, building confidence and friendships, our purpose is serious — enabling every one of our learning disabled members to live their life to the full. Respite for their families and carers is an intrinsic part of that process and a vital strand of our core mission’.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

TRANSITION

Helping people into employment, housing or supported living

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During the year, some of our Trustees paid a visit to Royal British Legion Industries (RBLI) in Aylesford, Kent following their application to us for capital funding towards the second phase of their Centenary Village Project (pictured). The Centenary Village they have created is an innovative concept which delivers a multi-generational, mixed community for vulnerable people, with older and younger beneficiaries, individuals and families benefiting and encouraging one another. Through this concept, RBLI offer affordable living with outstanding wrap around welfare support, nursing care and employability via their social enterprise factory. Our £500K capital grant enabled them to complete Phase 2 of the project which saw them add a 2-storey Community Centre (including training room), Community Café, an IT learning suite and 2 apartments plus a 6-bed, women only, HMO.

RBLI was founded in 1919, initially to provide help to armed forces veterans however today, alongside veterans, they provide care for the wider community, with beneficiaries from an armed forces background representing about 40% of those they help.

Their Vision is to have a thriving, expanded Village with high quality homes, fitted where necessary with the latest disability adaptations throughout, as well as a dynamic social enterprise operation UK wide which will provide work and financial independence for people with disabilities. They are also working towards being able to offer employability support and coaching programmes for veterans and people with disabilities around the UK. All of this is in synergy with our Vision and themes.

Lisa Farmer, Chief Executive, RBLI said:- “/ am delighted with The Edward Gostling Foundation’s incredible support for these new facilities. They are the heart of a community where everyone is overcoming disability or health conditions of all kinds. The new accessible gym, the training facilities, the welfare base and the homes themselves offer a new start, with full wrap-around care for independent living. The opportunity for paid work opportunities on site too really makes this community unique. We can never thank The Edward Gostling Foundation enough for their gift of 500K making it possible to complete these outstanding facilities”.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Transition continued

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One Small Thing was set up in 2014 in response to unacceptable levels of suicide and self-harm across women's prisons in England. The charity's Vision is a justice system that can recognise, understand and respond to trauma and their mission is to redesign the justice system for women and their children. They deliver traumainformed programmes to the justice and community sectors and influence for culture change across the entire system.

In 2023 they opened a pioneering residential community for justice involved women and their children called Hope Street (pictured). From within a healing, trauma-informed, residential environment, women and children have access to a range of specialist support. By taking a positive and compassionate approach, they aim to create a blueprint for change that can be replicated across the country and achieve better outcomes for women, their children and society. At the end of 2023 Trustees awarded thema significant endowment by way of a Deed of Gift to help them in their continuing efforts, recognising that women in prison are, without question, some of the most disadvantaged people in our society.

Claire Hubberstey, Chief Executive, One Small Thing said:- “We are deeply grateful for the generous support we have received. The initial £250K capital grant in 2022 enabled us to open Hope Street, a pioneering residential community forjustice-involved women and their children. Additionally, the £1M endowment provided by Trustees will support our operating costs over the next five years, ensuring we can continue our vital work. With EGF’s help we are creating a compassionate and trauma-informed justice system that offers better outcomes for women, their children and society. Together, we are making a meaningful impact on the lives of some of the most disadvantaged individuals in our community. Thank you EGF for standing with us in this critical mission”.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Strategic Investment Objectives

Our investments and assets provide the funding for all our charitable activities (grant and social investments) and cover our support and administration costs. The Trustees review the Investment Policy at least once a year with the policy most recently approved in June 2024.

The objectives of the Foundation’s Investment Policy are:

The Investment income and capital derived from the Charity’s investable reserves is vital io meeting the Trustees ‘spend out’ strategy. The stability of this income is of paramount importance In achieving this strategy and the ability to tolerate volatility is low. Trustees therefore wish for as much certainty of return as possible in order that expenditure on charitable activity can be planned with confidence.

Assets should be invested to both ensure cashflow is available and to mitigate as much risk as possible ta achieve this objective and as such, the Charity’s assets are diversified and defensively positioned. Trustees continue to monitor the portfolio closely given the volatile markets.

The Executive Board is responsible for agreaing a suitable asset allocation sirategy for cash and market investments with appointed investment managers which is setfo achieve the Charity's ‘spend out! objective.

The Executive Board regulary reassess the Charity’s consolidated allocation for cash and market investments and the necessary ranges within which they are expected to be in in order to meet planned expenditure.

Achievements

In total, spend on charitable activity accounted for in the year was £14.7M (FY2022/23; £173.92M). and as the chart below demonstrates, this is in line with our ‘spending out' target of spending at least £100M on charitable activities by March 2031 and averaging at least £10M per year against an historic average of E3M.

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THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
Charitable Spend
£13,917,984.70 £14,719,927.52
|
£8,017,660.19
£4,778,682.00
m2021 2022 m2023 m2024
----- End of picture text -----

The chart below shows our cumulative spend has reached £36.7M in the 3 years since ‘spend out’ began and demonstrates we are ahead of our target.

----- Start of picture text -----
Cumulative Charitable Spend
£100M _
£90M | $I a ee eae
£70M a a eg ey pak Tal re Ee ee ai i a
£40M pa SESS ee Saree Sore Se a a ee a el
Pct) ————$$$$. [ =] aaee ee
£20M ae a
£10M£M Pa ried jase | [isen crpacanae a auneemenan ahrer eee
YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10
ES Actual - == Forecast
----- End of picture text -----

Grant pledges awaiting payment at the year-end totalled £7,117K (FY2022/23: £4,165K) being £1,052K in respect of grants awarded and accounted for in previous years and £6,065K for grants awarded and accounted for in the current financial year.

NB. Donations are charged to the accounts in the year they are pledged. The fluctuating charge in respect of donations year on year reflects this accounting treatment.

Page 16

THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

A key part of the Foundation’s strategy is increasing financial support to Legacy Partners to provide more certainty that they can cover essential core costs. The aim is to ensure the delivery of sustainable services that will continue to have a significant impact on the quality of life for people with limited tomorrows. These charities provide direct funding or vital equipment to individuals facing multiple social challenges through having a disability, a serious long term or life limiting illness and who are living on a low income. Much of the work undertaken by our partners is targeted at enabling people to live independently at home where stress and anxiety levels are lessened thereby promoting health and well-being.

The chart below shows the split by value of the £12.4M new grants pledged during the year. The majority £7,023K (57%) were towards the funding of core operating costs to 75 Legacy Partners with a further 6 Legacy Partners receiving £494K (4%) of capital funding.

We also provided 5 grants at a total of £2,600K (21%) to new partners to deliver projects that support our aim of providing new capacity alongside significant elements of innovation that, together, bring about a step change in the way care in the community is delivered, including £2M toward the provision of new hospice buildings. The balance of 189 grants at a value of £2.3M (18.5%) were outstanding pledges for periods prior to October 2023 when we closed our other grant programmes to focus on legacy awards.

----- Start of picture text -----
Grants Awarded by Value 2024
----- End of picture text -----

----- Start of picture text -----
£8,000,000
£7,000,000
£6,000,000
£5,000,000
£4,000,000 rr
£3,000,000 lene oye Ne st
£2,000,000 Pee ee| emir”
£1,000,000 ——————_— ee oa wee
£Fah ‘Capital =| ~SsCCore Funding =| ~—sTotalAwards
« Legacy Partners 493,785 7,022,956 _ | 7,516,741
Other 2,600,000 2,306,709 | 4,906,709
----- End of picture text -----

Measuring Impact

Currently the impact of our grant making is measured against what organisations and individuals tell us they are seeking to achieve. In most cases we are part of a funding consortium and only contribute a portion of the overall funding needed and therefore cannot take sole credit for the many remarkable outcomes that are achieved, especially by our partners operating in the care and social services sectors for whom we have much admiration.

We deliberately do not impose a generic set of objectives that our partners must meet, preferring instead for them and their own Trustees to determine how best to spend their funds for greatest impact. For us, we believe our own impact is adequately measured by the reporting grantees are required to submit as to how our grants have been used and their effectiveness on the lives of beneficiaries. These reports provide valuable information on issues our grant-holders are facing and on progress of work supported by our grants.

Page 17

THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

We also see this from the thank you letters we receive each year, from site visits, seeing building projects and facilities delivered months and sometimes years earlier than would otherwise have been possible, from seeing new projects flourish and grow when others would not take the risk on funding and from seeing lives transformed with often just a very small financial contribution.

Geographic reach is considered both in the selection of Legacy Partners and new capital projects to ensure our funding is spread across all areas of the UK and reaches areas of disadvantage where funding is often difficult to come by.

The maps below shows the % value of grants made in the year and cumulatively since ‘spending out’ began in FY 2021/22, split by geographical area.

----- Start of picture text -----
Grants Awarded by Regions 2024 Grants Awarded by Regions Cumulative
UK Regions UK Regions
= Ee «Eas Meatanes ¢ E East Md@ands
Eav Angie Eat Ange
Londen Lomdan
North East North East
4.35% te ai - 1.84% oe ,
£aS South Wet aS South Weat
Sey 7 479% Waley f 3 3.86% Wales
~ 0.37% Weit Mtands Soy 0.42% WeitMidlands
i 2.55% Yorkuhere& The Hurrber fi My 5.30% Vorkuhure & The Hurrbet
. 3.33% . 2.01%
2 it ony ie g { if) fis
Las f 8% 7.74% yas Mu iia) ee 4.81%
. « “2.29% ap “8.51%
5.93% 54.40% 10.46% 37.55%.
AIL UK Regions 15.05% All UK Regions 24.62%
----- End of picture text -----

Public Benefit

The Trustees confirm that they have complied with the duty in Section 17 (5) of the Charities Act 2011 to have due regard to the guidance issued by the Charity Commission on public benefit. A very good measure of the public benefit that we create can be found in the grants awarded of £25,000 and above listed on pages 50-54 of this report. The charitable purpose for the Foundation within the meaning of The Act is enshrined within its objects, as given in the memorandum and articles of association which were last updated in June 2021.

Risk Management

The Trustees have examined the principal areas of the Foundation’s operation and have considered what major risks arise in each of these areas. They review risk on an annual basis and included in this review is an annual risk audit undertaken by the Executive Board. The risk management strategy is concerned with ensuring that the level of risk involved is acceptable and that reasonable steps are taken to manage and control the risk.

Trustees are satisfied that effective measures are in place to mitigate identified risks and the annual risk audit mentioned above ensures continued compliance with internal policies and procedures and helps identify new or changing risk profiles. The key risks have been identified and grouped under the following headings:

Page 18

THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

i) Governance

Having an inappropriate legal structure; acting unconstitutionally; failing to malntain proper records and accounts; not fulfilling regulatory requirements; failing to have appropriately skilled directors; failure to manage conflicts of interest.

Mitigation: Involvement of legal specialists as required, properly constituted boards and committees, employment of suitably qualified and experienced staff, external audit, timetabling of filing deadlines, regular Trustee training, clear conflict of interest policies.

ii) Asset Management

Failure to protect ownership of assets and investments; failure to have sufficient insurance; misappropriation of funds; fraud; failure to employ appropriately skilled staff; failure to control overheads; failure to maintain building fabric; systems failure; disaster or [oss of premises.

Mitigation: Due diligence on all property acquisitions, regular review of risk and insurance cover, clear policies and procedures, employment of suitably qualified and experienced staff and investment managers, extemal audit, budget setting and financial forecasting, planned maintenance programme, remote data back-up and siorage, contingency and disaster recovery plans in place and regularly tested.

iii} Financial & Investment Management

Erosion of income and inappropriate investment returns; market economics; interest rate movemenis; exposure to derivatives; adequacy of reserves and cashflow.

Mitigation: Monitoring and benchmarking Investment performance, spread of asset classes, cashflow forecasting, maintenance of good working relationships with our Banks and Investment Managers and professional advisers.

lv) Cornpliance with Law & Regulation

Breach of legal and regulatory requirements.

Mitigation: Annual external audit, annual internal audit quinquennial review by legal advisers, communication of policies and procedures between management and staff.

v) Grants & Donations

Inappropriate grants spend; lack of “value for money”; lack of capital grant applications; making inappropriate grants or grants outside of charitable objects.

Mitigation: Established policies and procedures promotion, regular review at board level, ongoing monitoring programme and review of beneficiaries.

In the opinion of the Trustees, the Foundation has established resources and review systems that, under normal conditions, should allow the risks identified by them to be mitigated to an acceptable level in its day to day operations. Tha Trustees also meet the auditors during the year to discuss the recommendations arising from thelr annual audit which helps inform thelr approach.

Fundralsing

The Foundation had no fundraising activities requiring disclosure under $162A of the Charities Act 2011.

Page 1¢

THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

Investment Policy and Performance

In the 2021/22 FY, the Trustees agreed a target of spending £100M on charitable activity over the next 10 yaars and as such the Foundation no longer sets an annual donation target related to Net Asset Value.

In June 2023 the Trustees approved a move to a lower risk approach for listed investments te decrease the volatility of returns and reduce the risk on the generation of cash needed to achieve the ‘spending out’ objective. To measure investment performance, the Foundation operates a total retum approach with the aim of maximising total retums with a lower level of risk regardless of whether those retums accrue by way of income or capital growth. Management of the investment portfolio is overseen by the Executive Board with the support of external professional Investment Managers with each given bespoke benchmarks against which their performance is measured, Through this approach the Foundation seeks to maintain sufficient value of its reserves to meet the alm of spending a minimum of £100M on charitable activity between 1 April 2021 and 31 March 2031and also ensuring there are sufficient monies to meet the costs of winding up by FY 2031/32. Budgets and targets for charitable expenditure are agreed annually by Trustees with the aim of averaging £10M per year on charitable activitiss over a rolling 5-year cycle from April 2022.

The Market Value of the Trust's listed investments as at 31% March 2024 was £55.93M (2022/23: £52.96M).

Reserves Policy

The Trustees have reviewed the reserves of the Foundation. The Foundation currently distributes in excess of its income each year and has no income retained as unrestricted funds. After deducting the value of fixed assets held for the Foundation’s own use, reserves available for current activities are £76.27M (FY2022/23: £86.49M) which primarily represents the equity held in the Foundation’s investments which are managed ona total return basis. The Trustees consider that, in conjunction with their liquidity and their Investment and distribution policies, the current level of reserves is appropriate to enable them to meet their charitable spend target of £100M over the ten years from April 2021 to 2031.The Board regularly monitor liquidity and cashflow with the Executive to ensure these are sufficient to cover angoing expenditure.

After reviewing the charity's forecasts and projections, the Trustees consider that there are sufficient reserves as at 31 March 2024 to manage any foreseeable downturn in the UK and global economies and there is a reasonable expectation The Edward Gostling Foundation has adequate resources to continue in operational existence at least until the completion of ‘spending ouf in FY 2031/32. For this reason, the Trustees continue to adopt the ‘going concern’ basis in preparing the accounts.

SUBSIDIARIES

The Foundation has 2 subsidiary undertakings which are described in note $ to the financial statements, with the net Income of these subsidiaries disclosed in note 9b to the financial statements.

As part of our social investment strategy we provide Charity Partners with concessionary loans and, at 31% March 2024, the outstanding value of these loans was £750K,

Page 20

THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Another of the Foundation’s programme related investments represents the entire share capital of ACG Participacoes Ltd, a company incorporated in Brazil, which holds the net disposal proceeds from the sale of land and buildings from which a school was previously run for charitable purposes.

A case study on one of our Brazilian Partners is included below.

BRAZIL

----- Start of picture text -----
CASE STUDY
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= oe 4 S
re f—, “ee r seyeehy, 7] i \ - = ESsf .= ia ant gig ;ia.
> BP.
nid
----- End of picture text -----

Through our Brazil based Trustee, Stephen O'Sullivan, we were introduced to Instituto Solidare, a charity based in Recife, the capital of the State of Pernambuco in the northeast of Brazil. The charity's primary focus is on the education of children and young people from underprivileged communities and through its work, this can lead, for some, to professional training and apprenticeship.

When it was first established in 2006, Instituto Solidare was supporting 182 children. Today, they estimate that through their programmes and social projects they have 2,600 direct beneficiaries and around 10,000 indirect beneficiaries, being family members and entire communities.

Recife is one of the cities in Brazil that is most prone to flooding due to some parts of the city, including the western region where the charity is based, being below sea level. The western region is also intersected by the Tejipié river which is itself often prone to flooding.

The charity is currently accommodated in a single-story house, unable to withstand the effects of this flooding which is very disruptive to the delivery of its programmes. The need to replace the existing premises with a new building that would better meet their needs therefore is vital to the success of Instituto Solidare’s work.

Earlier in the year Trustees agreed to support Instituto Solidare with funding towards the construction of the new premises, Our award of £168K will help them to be able to build the new premises as pictured in the architect's impression above. The building will be a total constructed area of 648 square metres across four floors with, crucially, a ground floor that is designed to be able to cape with the flooding. The new building, as well as being better able to cope with flooding, will also be able to accommodate many more people who require their support.

Instituto Solidare are currently progressing the necessary planning authorisations and permits required to be able to start on site but they anticipate commencing in September 2024. We look forward to reporting again in the future on the success of the project.

Page 21

THE EDWARD GOSTLING FOUNDATION TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

PROVISION OF INFORMATION TO AUDITORS

In determining how amounts are presented within items in the Statement of Financial Activities and balance sheet, the Trustees have had regard to the substance of the reported transaction or arrangement in accordance with generally accepted accounting principles or practice.

AUDITORS

Crowe U.K, LLP has indicated its willingness to be reappointed as statutory auditor,

The Trustees—iv, the Strateglc Report have been approved by order of the Boardon > > 172.“24 Dx « S D N Taylor Chair

Page 22

THE EDWARD GOSTLING FOUNDATION TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees (who are also directors of The Edward Gostling Foundation for the purposes of company law) are responsible for preparing the Trusiees’ Report, Strategic Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financlal statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and group 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 company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Page 23

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE EDWARD GOSTLING FOUNDATION

Opinion

We have audited the financial statements of The Edward Gostling Foundation (‘the charitable company’) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Cash Flow Statement 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 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:

Basis for opinion

We conducted our audit In accordance with Intemational 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in fhe 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 Trustee’s 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 evenis or conditions that, individually or collectively, may cast significant doubt on the charitable company'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 Trustees are responsible for the cther information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and 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 |n the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determing whether this gives rise fo 2 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 thls regard.

Page 24

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE EDWARD GOSTLING FOUNDATION

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

Matters on which we are required to report by exception

In light of the knowledge and understanding of the Group and Parent Charitable Company and their environment obtained in the course of the audit, we have not identified material misstaternents in the strategic report or the directors’ report included within the Trustees’ report,

We have nothing to report in respect of the following matters in relation fo which the Companies Act 2006 requires us to report to you If, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsbibilitles statement set out on page 23, the Trustees {who are also the directors of the charitable company for the purposes 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 financlal 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 group or charity's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or fo cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financlal statements

We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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 usars taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations, are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Page 25

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE EDWARD GOSTLING FOUNDATION

Extent to which the audit was considered capable of detecting irregularities, including fraud

(regularities, including fraud, are instances of non-compliance with laws and requlations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit feam members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficlent and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures In the financial statements. The laws and regulations we considered in this context for the UK operations were the Companies Act 2006, Charities Act 2011, together with the Charities SORP (FRS102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statements.

In addition, we considered provisions of other laws and regulations that do not have a direct effact on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also conskiered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the charitable company were Charity Commission regulations, Fire safety regulations, General Data Protection Regulation (GDPR) and Health and Safety regulations. Auditing standards limit the required audit procedures to identify non-campliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management. Our audit procedures to respond to these risks included enquiries af management, and the Joint Managing Directors about their own identlficatlon and assessment of the risks of irregularities, sampfe testing on the posting of Journals, reviewing accounting estimates for biases and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflacted in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations,

Use of our report

This report is made solely to the charity's Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been undertaken so that we might state to the charitable company’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 responsibility to anyone other than the charitable company and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Janette Joyce

Senior Statutory Auditor

For and on behalf of

Crowe U.K. LLP

Statutory Auditor

Reading IO - 12-24

Page 26

THE EDWARD GOSTLING FOUNDATION CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
2024 2023
£ £
Income and endowments from:
Investments
- Income from properties 1,048,379 4,285,226
- Other Investment income 2,356,733 2,129,208
- Other income (derivative settlement) - 380,348
Total Income and endowments —3.405.412 _ [3.794.782]
Expenditure on:
Raising funds:
~ Property operating costs (411,676) (458,497)
~ Loan interest and bank charges (35,812) (426,625)
~ Investment management fees and costs __ (125,620) (151,239)
(573,048) (1,036,355)
Net Income available for charitable application 2,832,064 2,758,427
Charitable activities:
- Grant making costs (13,964,959) (13,460,376)
- impairment of Social Investment (525,898) (271,194)
- Support costs (229,070) (246,472)
Total expenditure 5 (15,292,975) _/14,954,337)
Net (expenditure) before investment gainsi(losses) (11,887,863) (17,159,555)
Revaluation losses on investment properties and fixed
assets (1,450,000) (825,000)
{Lass) on disposal on investment properties - (83, 664)
Gains/(losses) on listed investment assets 9d 2,591,474 (6,451,742)
Net (loss}/income (10,746,389) (78,579,967)
Other recognised gains
Fair value movement on derivative contracts 204,994 4,148,056
Actuarial (losses) on defined benefit pension scheme (145,000) (95,000)
Net movement in funds (10,686,395) (17,466,905)
Reconciliation of funds
Total funds brought forward at 1 April 2023 86,956,890 _ 104,423,795
Total funds carried forward at 31 March 2024 £76.270.495 £86,956.390
----- End of picture text -----

; |

The notes on pages 30 to 54 form part of these financial statements

Page 27

THE EDWARD GOSTLING FOUNDATION CONSOLIDATED AND CHARITY BALANCE SHEETS COMPANY REGISTRATION NUMBER: 03522188 31 MARCH 2024

Group Group Charity Charity
Notes 2024 2023 2024 2023
£ £ £ £
FIXED ASSETS
Tangible assets 8 - 525,000 - 525,000
Investments
- Investment properties
- Investments in subsidiaries		 9a
9b		 3,450,000
“		 5,975,000
-		 3,450,000
20,433,763		 5,975,000
20,440,263
- Programme related
investments
- Listed Investments		 9c
9d		 6,794,610
55,927,646		 6,645,508
52,958,770		 6,794,610
_55.927.646		 6,639,008
_52,958.770
—86,172,256 _66,104,278 _$6.606.019 _86,538,041
CURRENTASSETS
Programme related
Investments
Assets heldfor sale
Debtors
Cash atbankand in hand		 9c
Se
11
10		 50,000
1,625,000
927,654
15,771,514		 50,000
-
4,403,728
21,905,614		 56,000
1,625,000
927,654
15,768,181		 50,000
-
4,403,729
217,902,287
18,374,168 26,359,342 18,370,835 26,356,010
CREDITORS: Amounts
falling duewithinoneyear 12 (7,258,538) (4.108.078) _{27,688,968) _/(24 533,440)
NETCURRENTASSETS/
(LIABILITIES) 11,115,630 _22,257,324 (9,318,133) 1,817,561
TOTALASSETS LESS
CURRENTLIABILITIES 77,287,886 88,355,602 77 287,886 88,355,602
CREDITORS: Amounts
falling due aftermore than
oneyear 13 (513,390) (920,771) {513.390) (920,711)
Netassets excluding £76,774.496 £87,.434.891 £76,774.496 £87,434897
pension liability
Pension Liability 15 __
(504,001)		 (478,007) (504.001) (478.007)
NETASSETS £76,270,495 £86.956.890 £76,270495 £356,056.590
UNRESTRICTED FUNDS
Incomeandexpenditure 14 73,998,308 85,826,177 58,945,306 70,773,175
Fairvalue reserve 14 272,187 1.730.773 17,325,189 16,183,715
£76.270.495 £56,956.5890 £76,270,495 £86.956,890

Included within the group results is a loss of 210,686,395 (2023: £17,466, 905 loss) in respect of The Edward Gostling Founfatioh, There are no recognised gains or Josses other than those reported above. Appraved and authérised for issue by the Trustees on 1¢D - 12..92.<-- and signed on their behalf by Wws QO DN Taylo @ Chair

The notes on pages 30 to 54 form part of these financial statements

Page 28

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THE EDWARD GOSTLING FOUNDATION CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £ £ £ £
Netcash (used In}/
provided byoperating 16 {7,377,829} (15,973,513)
activities:
Netcash from investing
activities:
Investment income 2,356,733 2,729,208
Interest paid (35,812) (426,625)
Purchaseofproperty, plantand
equipment		 - (332)
Purchaseoflisted investments (19,976,344) (42,305,432)
Net proceads from sale of
investment propertias - 6,329,236
Proceedsfrom listed investments 19,601,675 67,158,803
Settlementofderivative - (1,117,482)
Movement in social
investment loans 50,000 406,000
Cash investment in
programme (750,000) :
related investment
Net cash provided by
(used in) /investing
activities 1,246,252 30,873,406
Change incash and cash
equivalents In the reporting period (6,131,577) 14,899,893
Cash and cash equivalents atthe
beginning ofthe reporting period 21,937,381 7,037,488
Cash andcash equivalents atthe
endoftheraportingperiod		 £ 15,805,804 £21,937,381
Cash and cash equivalents are represented by
Gash at bank and in hand 15,771,514 27,905,614
Cash held with investment manager 34.290 31,767
£_15,805,804 £27,937,384
CHANGE IN MOVEMENT IN NETFUNDS
At 7 April Cash flow At 31 March
2023 2024
£ £ £
Cash atbank and in hand
Cash held with investment manager		 21,905,614
31,767		 (6,134,100)
2,523		 15,771,514
34,290
NetFunds 21,937,387 (6,431,577) _15,805,804

The notes on pages 30 to 54 form part of these financial statements

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

  1. COMPANY INFORMATION

The principal activity of the charity is to assist those in poverty or who are aged and in need or who have a physical or mental disability. The charity (registered number 03522188 and charity number 1068617), is incorporated and domiciled in the UK. The address of the registered office is Parkside, 33-39 Sheet Street, Windsor, Berkshire, SL4 1BY.

  1. ACCOUNTING POLICIES

a) Basis of accounting

The financial statements have been prepared 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) (effective 1 January 2019) — Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Edward Gostling Foundation meets the definition ofa public benefit entity under FRS 102. Assets and liabilities are Initially recognised at historical cost or transaction value unless otherwise stated In the relevant accounting policy note(s).

b) Basis of consolldation

The consolidated accounts include the trading activities, assets and liabilities of the group subsidiary companies In accordance with the Charity SORP. Intra-group transactions have been eliminated on consolidation.

No separate SOFA or Income and Expenditure Account have been presented for the Charity alone as permitted by section 408 of the Companies Act 2006.

c) Going concern

Alter reviewing the charities forecasts and projections the Trustees consider that there are sufficient raserves at 31 March 2024 to manage any foreseeable downtum in the UK and global economy and that there is a reasonable expectation The Edward Gostling Foundation has adequate resources to continue in operational existence for the foreseeable future and at least to the completion of its ‘spend out in 2032. For this reason, the Trustees continue to adopt the ‘going concern’ basis in preparing the accounts.

d)

Income

Rental income is accounted for on an accruals basis. Trading turnover is included on the basis of sales invoiced or work done in accordance with the terms of contract. All other income, including payments under Gift Aid, is accounted for under the accruals concept.

Deferred income exists since property Income is Involced in advance for rents due.

a) Expenditure

Expenditure is accounted for on an accruals basis and Is classified under headings that aggregate all costs related to that category. Costs are allocated on a direct cost basis. Liabilities are recognised as expenditure when there is a legal or constnuctive obligation committing the charity to the expenditure. Grants, both single and multi-year are recognised in the accounts as [abilities after they have been approved bythe Trustees, the recipients have been notified and there are no further terms and conditions to be fulfilled.

All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings below:

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES (CONTINUED)

f) Expenditure on raising funds

Expenditure on raising funds comprises those cast, including support casts, directly attributable to the investment portfolio and raising investment income.

g) Expenditure on charitable activities

The cost of charitable activities consist of grants awarded and a proportion of the management and administrative charge, governance and other costs

h} Investment properties

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair vaiue are recognised in the Statement of Financial Activities.

Where investment properties are held to be sold, the assets are reclassified as being current assets and included in the Balance Sheet at their open market values.

i) Programme related investments

Programme related investments are stated at the cost of investment less any recognised impairment.

j) Other tangible fixed assets

During the year Trustees amended their capitalisation policy to reflect their ‘spend out strategy and anticipated closure in 2032. Excluding freshold and long Isasehold land, depreciation is provided on other fixed assets, with a purchase cost in excess of £5,000,at rates calculated to write off their cost less estimated residual value over their useful economic lives as follows: -

Furniture and equipment - 15-18% on a straight-line basis Computer equipment - 25-33% on a straight-line basis Plant and machinery - 25% on a reducing balance basis Motor vehicles - 25% on a reducing balance basis Assets under construction - no depreciation

Assets brought forward from previous years with a depreciated value of less than £5,000 have been written down in the year and charged to revenue.

The caplialisation policy for the purchase of properties is to capitalise all the costs of purchase, any abortive costs are written off.

Land and buildings are carried at fair value determined annually by external valuers.

k} Investments

Investments are stated at market value, or where no market value is readily available, at net asset value. Any changes on value are transferred to the fair value reserve. Reailised gains are calculated based on net proceeds compared to the carrying amount and are credited or debited to reserves as appropriate.

i) Assets held for sale

Non-current assets classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell.

Non-current assets are classified as held for sale if their carrying amount will be recovered through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the asset is available for immediate sale in its present condition. Refer to note 9e for the Trustee's assessment in classifying the investment properties as held for sale.

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES (CONTINUED)

m)

Operating leases: The Charity as lessor

Rental income from operating leases is credited to profit or loss on a straight-jine basis over the lease term.

n} Reserves

Reserves represent unrestricted funds available for the future activities of the Charity.

0) Pension costs

The Edward Gostling Foundation participates in the Social Housing Pension Scheme (SHPS), and retirement benefits tc employees are funded by contributions from all participating employers and employees in the scheme. The financial statements reflect at fair value the assets and liabilities arsing from the Charities retirement benefit obligations and any relating funding.

A defined contribution pension scheme including an auto enrolment arrangement is also operated by The Edward Gostling Foundation with the pension charge representing the amounts payable by the Group to the fund in respect of the year.

Pp) Taxation

The Edward Gostling Foundation is a registered Charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities as it falls within the various exemptions available to registered Charities.

q) Financial instruments

Basic financial instruments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at amortised cost. Note 18 provides more information on financial instruments where future cash flows are anticipated, with financial assets referring ta fixed asset investments (excluding investment property), cash at bank and in hand and debtor balances excluding prepayments, and financial liabilities referring to all creditor balances excluding deferred income and social security and other taxes.

:

Derivatives, including interest rate swaps, are not basic financial instruments. Derivatives are initially racognised at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. Changes in the fair value of derivatives are recognised in the Statement of Financial Activities. The charity dogs not currently apply hedge accounting for interest rate derivatives.

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3. JUDGEMENTS AND ESTIMATES

In the application of the charity's accounting policies, which are described in note 2, Trustees are required ta make judgements, estinates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the pariod in which the estimate Is revised if the revision affacts only that period or in the period of the revision and future periods if the revision affects the current and future periods.

The key sources of estimation uncertainty that have an effect on the amounts recognised in the financial statements are described in the accounting policies and are summarised below:

4, GRANTS PAYABLE IN THE FURTHERANCE OF CHARITY OBJECTIVES

----- Start of picture text -----
2024 2023
£ £
Organisations 13,201,446 12,646,501
Allocated overheads (note 5) 383,563 395,194
13.583.009 13,041,995
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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
5 TOTAL EXPENDITURE
----- End of picture text -----

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Staff|Other|2024|2023| |Costs|costs|Total|Total| |£|£|£|£| |Expenditure|on:| |Property|operating|costs|248,131|163,485|411,616|458,491| |Loan|interest|and|bank| |charges|.|35,812|35,812|426,625| |Investment|management| |fees and|costs|=| 125,620|125.620||[757.239]| |—— 248,131|324917|573.048_||[7,036,355]| |Charitable|activities| |Grant making|costs|379,950|13,585,009|13,964,959|13,460,376| |(note|4)| |Support|costs|147,328|$1,742|229,070|246,472| |impairment|of social| |investment|———=|525.898|___525.898||[277,194]| |§27,.277| 14,192,649|—14,719.927|13,917,982| |Total expenditure|£775,408|£14,517,567|£15.292,975|£14,954,397| |Included|within|other costs|are govamance|costs|of £33,400|(2023:|£30,925).| |6.|NET INCOME|2024|2023| |£|£| |This|is|stated|after charging:| |Group|auditors’|remuneration|-|Audit|fees:| |-|relating|to|parant company|33,400|30,925| |-|relating|to|ACG|Rented|2,500|-| |Properties| |Depreciation|of tangible|fixed|assets|ee|88|

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7. STAFF NUMBERS AND EMOLUMENTS

Staff costs consist of:

Staff costs consistcosts consistconsist Staff costs consistcosts consistconsist of:
Group
2024 2023
£ £
Wages and salaries 669,973 726,993
Social securitycosts 74,384 85, 167
Other
pension
costs		 (includes FRS102 defined benefit
pension movement) —_31,054 _42,468
£775.408 £854,328
The totalaveragenumberofemployees during the periodwas as follows:
2024 2023
Number Number
Administration/management 8 8
The numberof ofemployees ona full-time equivalent basiswas was 3.75 (2023: 4.70).
Thenumber ofemployees with total emoluments in excess of£60,060 (including taxable benefits benefits
excluding pension scheme contributions):
2024
Number		 2023
Number
£90,000 -£100,000 - -
£100,000 -£110,000 - 2
£110,000 -£120,000 2 -
£140,000 -£150,000 “ 1
£220,000 - £230,000 “ 1
£230,000 -£240,000 - -
£240,000 -£250,000 cn a

The total average number of employees during the period was as follows:

The number of employees on a full-time equivalent basis was 3.75 (2023: 4.70).

The number of employees with total emoluments in excess of £60,060 (including taxable benefits but excluding pension scheme contributions):

2 of the highest paid employees (2023: 2) were accruing benefits under defined benefit pension schemes at a cost of £39,198 (2023: £27,233).

Key management personnel include the Trustees and key management listed on page 2. Their aggregate remuneration {including company pension contributions and employers Ni) was £584,218 (2023: £720, 765).

Termination payments in the period totalled £30,000.

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THE EDWARD GOSTLING FOUNDATION NOTES T0 THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7. STAFF NUMBERS AND EMOLUMENTS (CONTINUED)

Trustees

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2024 2023
£ £
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Emolumenits {including pension costs and taxable benefits) £364,261 £403,098

The highest paid director during the year received emoluments of £276,159 (2023: £229,348). Further details of Trustee remuneration and benefits can be found in note 17.

During the year 3 Trustees (2023: 1) received reimbursed expenses in respect of travel and subsisience totalling £1,428 (2023: £7,350).

These payments are made under the legal authority of the Memorandum and Articles.

8. TANGIBLE ASSETS

Group and charity

Group and charity
Land& Other
Buildings equipment Total
£ £ £
Cost
At 1 April 2023
Additions
Transfer to Assets Held for		 525,000
-
(625,000)		 100,649
-
-		 625,649
-
(525,000)
Sale (see Note 9e)
Revaluation - —
At 31 March 2024 - 100,649 100,649
Depreciation
At 1 April 2023 - 100,649 100,649
Chargeforthe year - - “
Revaluation adjustment - - -
Disposals - : ____=
At31 March 2024 - 400,649 100,649
Net bookvalue
At 31 March 2024 £ “ £ : €£ :
At31March2023 £52000 £- £525.000

The asset within Land and Buildings Is the ground floor of Thames Street which is used as the head office. This was valued at 31 March 2024 by an independent valuer, CBRE Chartered Surveyors on an open market value basis. The office has been transferred to Assets Held for Sale (see note 9¢), as it is on the market for sale as at the year end,

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9a. INVESTMENT PROPERTIES

Group and charity

£ Costivaluation At 1 April 2023 5,975,000 Revaluations (1,425,000) Transferred to Assets Held for Sale (ses note 99) (1,100,000) At 31 March 2024 £__3,450,0003,450,000

£__3,450,0003,450,000 £._5,975,000

At 31 March 2023

Properties were valued as at 37 March 2024 by CBRE, Chartered Surveyors.

All of the above properties are Freehold Properties.

9b. INVESTMENTS IN SUBSIDIARIES

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Charity Subsidiaries
£
Valuation
At 1 April 2023 20,440,263
Impairment (6,500)
At 31 March 2024 £20,433,763
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The Edward Gostling Foundation owns the entire share capital of the following companies, the results of which have been consolidated into these financial statements.

Name Type of business Aggregate of share Profiti(loss) capital and reserves £ £ ACG Rented Former Basepoint Properties Pic* holding company, nat 20,433,763 trading

The registered office of the above company is Parkside, 33-39 Sheet Street, Windsor, SL4 1BY.

*This is a directly held company (registered number 02439673).

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9b. INVESTMENTS IN SUBSIDIARIES (CONTINUED)

In addition to the above The Edward Gostling Foundation awns the entire share capital of the following company which is treated as a programme related investment and is therefore not consolidated.

ACG Participacoes Ltda

Dormant company:

ACG Rented Properties Ple

All the companies within the group are incorporated in England and Wales under the Companies Act 2006 with the exception of ACG Participacoes Ltda which is incorporated in Brazil.

9c. PROGRAMME RELATED INVESTMENTS RELATED INVESTMENTS INVESTMENTS

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|||||||| |---|---|---|---|---|---|---| |PROGRAMME RELATED INVESTMENTS RELATED INVESTMENTS INVESTMENTS|Group|Charity| |2024|2023|2024|2023| |£|£|£|£| |Fixed Assets| |Dame|Hannah|Rogers Trust|200,000|250,000|206,000|250,000| |Exeter|Royal Academy|Loan|500,000|500, 000|500,000|500,000| |Otterbourne|Hill|property|2,019,016|2,019,018|2,019,016|2,079,016| |Brazillan|Investment|1,175,594|951,492|1,175,594|944,999| |Dame|Hannah|Rogers Trust|2,900,000|2,925,000|2,900,000|2,925,000| |6,794,610|6,645,|508|6,794,610|6,639,008| |Current Assets| |Dame|Hannah|Rogers Trust|50,000|50.060|50.000|50,000| |Total|programme| |related investments|£6,844610|£6.605.508|£6,844.610|£|[6,699,008]|

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The Edward Gestling Foundation Group own R$13,967,979 shares in ACG Particlpacoes Ltd which represents 100% of the share capltal of that company. ACG Participacoes Ltd holds cash to be used for charitable purposes overseas. in the Trustees’ opinion this Investment should be accounted for as a programme related Investment, as it is held to facilitate the Group to further its charitable objectives and not for financial gain.

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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|||||||| |---|---|---|---|---|---|---| |9d.|LISTED|INVESTMENTS| |Group and|Charity| |2024|2023| |£|£| |Investments of|1|April 2023|52,514,194|83,819,307| |Additions|19,976,344|42,305,432| |Disposals|(19,601,675)|(67,758,803)| |Revaluations|__ 2,591,474|(6,451,742)| |Market value|at 31|March|2024|55,480,337|52,514, 194| |Cash|held|with|investment|manager|34,290|31,767| |Accrued|investment|interest|413,019|412,809| |—55,927,646|_52,953770|

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At the year end the following investments represented more than 5% of the total investments:

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |COIF|Charities|Deposit Fund|11%|0%| |COIF|Charities|Short|Duration Bond|Fund|inc|11%|0%| |CCLA|Charities|Ethical|Investment Fund|0%|13%| |CCLA|Charities|Global|Equity Income|0%|15%| |Investec — UK (Govt of} 0%|T-Bill|02/09/2024) GBP|9%|_0%| |Investments|comprise:| |Group|and|Charity| |2024|2023| |£|£| |Fixed|interest|stocks|43,911,645|38,150,889| |Equity|investments|11,981,711|14,776,114| |Fixed|term deposits|and cash|held|34,290|31,767| |—~55.927,646|52,958,770| |9e.|ASSETS HELD FOR SALE|Group and Charity| |2024|2023| |£|£| |Assets|held|for sale|at|1|April|2023|-|3,737,900| |Assets|sold|in|the|year|-|(3,737,900)| |Invasiment properties|transferred|to|held for sale|1,100,000|-| |Fixed asset property transferred|to held|for sale|525.000|-| |Assets held|for sale|at 31|March 2024|—__ 1,625,000|J.-|

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The year end balance for assets held for sale is Flat 4, Thames Street, Windsor, with a value included of £1,100,000 and the Ground Floor, Thames Street, Windsor, with a value included of £525,000.

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|
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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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10. CASH AT BANK AND IN HAND
2024 Group 2023 2024 Charity 2023
£ £ £ £
Cash atbankandinhand —__15,774,514 © _21.905.614 45,768,181 _27,902,281
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----- Start of picture text -----
11. DEBTORS
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----- Start of picture text -----
Trade debtors
Other debtors
Prepayments and accrued income
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----- Start of picture text -----
Group and Charity
2024 2023
£ £
65,284 4,577
448,609 4,755,507
413,761 —243.644
£927,654 £4403.728
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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

12. CREDITORS: Amounts falling due within one year

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Group Charity
2024 2023 2024 2023
£ £ £ £
Trade creditors 10,778 15,176 10,778 15,176
Amounts owed fo group
undertakings - - 20,430,430 20,430,431
Other taxes and social
security 48,110 24,124 48,110 24,724
Other creditors 28,460 15,372 28,460 15,372
Grants payable 6,933,018 3,778,254 6,933,018 3,778,254
Accruals and deferred
income 238,172 275,152 238,172 275,152
£ [7.258.538] £.4108018 £27,088.968 £24538.449
Deferred income of £149k £149k relates to rentals received in advance.
CREDITORS: Amounts Amounts falling due after more than more than than one year year
Group and Charity
2024 2023
£ £
Derivative contract 329,250 §34,245
Grants payable 184,140 386,466
£13320 £920,771
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Deferred income of £149k £149k relates to rentals received in advance.

  1. CREDITORS: Amounts Amounts falling due after more than more than than one year year

The company has a hedging instruments in place, which was taken out in 2007, to protect itself against increases in interest rates in line with the group's interest rate management policy:

" £10m at 4.98% until August 2027, bank cancellable on an annual basis from August 2009

The hedging instrument has been measured at fair value and recognised in the financial statements in accordance with FRS 102.

No (2023; £nif) cash is hald as security against the hedging contracts at 31 March 2024, however one property does remain as security.

The Trustees expect that the remaining hedge will remain in place until expiry in 2027.

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14. RESERVES

Group 2024

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||||||||| |---|---|---|---|---|---|---|---| |income|and| |expenditure|Falr value| |account|reserve|Total| |£|£|£| |Reserve|balances|brought forward|85,826,177|1,130,713|86,956,890| |Net|expenditure|(11,887,863)|-|(11,887,863)| |{Gain)/oss on|listed|Investments|-|2,591,474|2,591,474| |Gain/(loss) on|investment|properties|revaluation|-|(1,450,000)|(1,450,000)| |Re-measurement|of pension|liability|(145,000)|-|(145,000)| |FV movement on|derivatives|204,994|5|204,994| |Reserve balances|carried forward|13,998,303|22f2.187|76.270,495| |Charity 2024| |Income and| |expenditure|Fair value| |account|reserve|Total| |£|£|£| |Reserve|balances|brought forward|70,773,175|16,183,715|86,956,890| |Net expenditure|(11,887,863)|-|{11,887,863)| |(Gain}loss|on|listed|investments|-|2,591,474|2,591 474| |Gain/{loss)|on|investment|properties|revaluation|-|(1,450,000)|(1,450,000)| |Re-measurement of pension|liability|(145,000)|-|(145,000)| |FV movement on derivatives|204,994|:|204,994| |Reserve balances|carried forward|——28,945,306||[17,325,189]|__{6,.270,495| |Group|2023| |income|and| |expenditure|Fair vaiue| |account|reserve|Total| |£|£|£| |Reserve balances brought forward|92,501,179|11,922,676|104,423,795| |Net expenditure|(17,759,555)|(11,759,555)| |(Loss)|on|listed investments|-|(6,451,742)|=|(6,451,742)| |(Loss)|on investment properties|“|(825,000)|(825,000)| |(Loss) on|disposal on investment properties|“|(83,664)|(83,664)| |Re-measurement of|pension|liability|(95,000)|-|(95,000)| |Hedging transfer from prior year|3,431,497|(3,431,497)|-| |Fair value movement on derivative|contracts|4,148,056|-|1,448,056| |Reserve balances carried forward|BS.826177|__1130.713|_86.956.390|

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14, RESERVES (CONTINUED}

Charity 2023

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|||||||| |---|---|---|---|---|---|---| |income|and| |expenditure|Fair value| |account|reserve|Total| |£|£|£| |Reserve|balances|brought|forward|77,448,177|26,975,618|104,423,795| |Net|expenditure|(11,159,555)|-|(11,159,555)| |Gain on|listed investmenis|-|(6,451,742)|(6,451,742)| |Gain/(loss)|on investment properties|-|(825,000)|(825,000)| |(Loss) on disposal on investment properties|“|(83,664)|(83,664)| |Re-measurement ofpension|liability|(96,006)|“|(95,000)| |Hedging|transfer from previous year|3,431,497|(3,431,497)|-| |Fair value|movement on derivative contracts|1.148.056|:|1.148.056| |Reserve|balances|carried forward|70,773,175|16,183,715|_86,956,390|

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15, PENSION COMMITMENTS

The company participates in the Social Housing Pension Scheme (the Scheme), a multi- employer scheme which provides benefits to some 500 non-associated employers. The Scheme is a defined benefit scheme in the UK.

The Scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came Into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The last triennial valuation of the scheme for funding purposes was carried out as at 30 September 2023. This valuation revealed a deficit of £700m. A Recovery Plan has been put in place with the aim of removing this deficit by 30 September 2026,

The Scheme is classified as a ‘last-man standing arrangement’. Therefore, the company is potentially liable for other participating employers' obligations if those employers are unabie to meet their share of the scheme deficit following withdrawal from fhe Scheme. Participating employers are legally required to meet their share of the Scheme deficit on an annuity purchase basis on withdrawal from the Scheme.

For accounting purposes, the most recent valuation of the scheme at 30 September 2623 was used, to inform the liabilities for accounting year ends from 31 March 2024 to 28 February 2025 inclusive.

Contributions payable to the Scheme in the year, including deficit payments were £68,057 (2023: £143, 168).

The fair value movement on the pension liability was £145,000 (2023: (£95, 000).

The Charity is aware of the Virgin Media v NTL Pension Trustees Il Limited Court of Appeal judgement which may give rise to adjustments to the scheme. At present the legal process is incomplete and therefore we are unable to quantify any potential liabilities

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15. PENSION COMMITMENTS (CONTINUED)

Fair value of plan assets, present value of defined benefit obligation, and deflned benefit asset (liability)

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|||||||||| |---|---|---|---|---|---|---|---|---| |31|March|37|March| |2024|2023| |£°000|£000| |Fair|value|of plan|assets|2,091|2,034| |Present value|of defined|benefit obligation|(2,595)|2.512)| |Surplus|(deficit)|in|plan|(504)|(473)| |Defined|benefit|(liability)|to be|recognised|eef:'.|||nn-|24-7)|

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Reconciliation of opening and closing balances of the defined benefit obligation

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|||||||||| |---|---|---|---|---|---|---|---|---| |Period|from|Period|from| |31|March|37|March| |2023 to|31|2022|to|34| |March|2024|March|2023| |£°000|£000| |Defined|benefit obligation|at start|of period|2,512|3,467| |Current|service|cost|6|23| |Expenses|4|3| |Interest expense|122|96| |Member contributions|47|42| |Actuarial|losses/(gains) due fo scheme|experience|23|7| |Actuarial|losses/(gains)|due to changes|in|financial|{7}|(7,031)| |assumptions| |Aciuarial|losses/(gains)|due|to|changes|in|demographic|(31)|{6)| |assumptions| |Benefits|paid|and|expenses|(81)|(77)| |Defined benefit obligation|at end|of period|2,595|2572|

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Raconcillation of opening and closing balances of the fair value of plan assets

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||||||||| |---|---|---|---|---|---|---|---| |Period from|Period|from| |31|March|37|March| |2023|to|31|2022|to|34| |March|2024|March|2023| |£000|£'000| |Fair value of plan assets at start|of period|2,034|2,977| |Interest income|102|84| |Experience|on|plan|assets|(excluding|amounts|Included|in| |interest|income) — gain/(loss)|(160)|(1,131)| |Employer|contributions|149|139| |Member|contributions|47|42| |Benefits|paid|and|expenses|(84)|{77}| |Fair value of plan|assets at end of period|2.091|2.034|

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The actual return on plan assets (including any changes in share of assets) over the period from 31 March 2023 to 31 March 2024 was £(58,000) (2023: (£1,047,000)).

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15. PENSION COMMITMENTS (CONTINUED)

Assets

Assets
31 March 34 March
2024 2023
£000 £7000
Global Equity 208 38
Absolute Return a2 22
Distressed opportunities 74 62
Credit relative value
Alternative riskpremia		 69
66		 77
4
Emerging market debt 2? ti
Risksharing 122 150
Insurance linked security 11 57
Property
Infrastructure		 84
211		 &8
232
Private equity
Privatedebt
Opportunistic Illiquid credit		 2
$2
82		 -
90
8&7
High yield . 7
Cash 41 16
Long lease property 14 67
Secured income 62 93
Liability driven investment 851 937
Currency Hedging (1) 4
Net current assets 4 §
Totalassets 2,091 2,034

Key Assumptions

31 March 31 March
2024 2023
% perannum %perannum
Discount rate 4.9 4,78
Inflation (RPI) 3.15 3.19
Inflation (CPI) 2.78 2.75
Salarygrowth 3.78 3.75
Allowed forcommutation of pension forcash
atretirement		 % of
maximum
allowed		 75% of
maximum
allowed

The mortality assumptions adopted at 31 March 2024 imply the following life expectancies

Life
expectancy		 Life
expectancy		 Life
expectancy
atage 60 atage 60
(Years) {Years)
Male retiring in2024 20.5 21.0
Femak retiring in2024 23.0 23.4
Male retiring in2044 21.8 22.2
Femaleretiringin2044 24,4 24.9

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16. RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES

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|||||||||| |---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Net movement|in|funds|(10,686,395)|(77,466,905)| |Depreciation|-|16,663| |Investment income|(2,356,733)|(2,129,208)| |Interest|paid|35,812|426,625| |Net|(gain)/loss|on|investments|(2,591,474)|6,451,742| |Revaluation|loss on investment properties|and|fixed|assets|1,450,000|826,000| |Impairment|of social|investments-|Brazil and DHRT|525,899|211,194| |Impairment|loss|relating|to|estimate|sales|casts|-|30,358| |Profit on|derivative settlement|.|(380,348)| |Loss|on|sale|of investment|properties|-|83,664| |Gifted|social|investments|-|7,589, 120| |Pension|movement|26,000|(6,000)| |Decrease/ (increase)|in|debtors|3,475,864|(4,146,307)| |Increase/(decrease)|in|creditors|2,743,199|_(1,479,717)| |Net cash|provided|hy/ (used|in} operating|activities|£(7,377,829)|[£(15,973,573)]|

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17. TRUSTEE REMUNERATION AND BENEFITS

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |During|the|year the following|amounts|have|bsen|paid|to|Trustees|in|their operational|capacities.| |2024|2023| |£|£| |Denis|Taylor (Executive|Trustee):| |Remuneration|—51,633|_229,348| |Christine|Erwood:| |Remuneration|—_36,469|30,000| |Victoria|Hoskins|(Executive|Trustee)|46,159|143,705|

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These payments were made under the legal authority of the charity's Memorandum and Articles of Association.

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

18. FINANCIAL INSTRUMENTS

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|||||||| |---|---|---|---|---|---|---| |Group| |2024|2023| |£|£| |Financial|assets| |Financial|assets|measured|at amortised|cost|16,285,407|26,065,698| |Financial|assets|measured|at fair value|through|the| |Statement of|Financiat|Activities|39,377,846|58.933.770| |Financial|liabilltles| |Financial|liabilities|measured|at amortised|cost|7,067,632|3,934,306| |Financial|liabilities|measured|at fair value|through|the| |Statement of Financial|Activities|mehHO|860|34,245__| |Charity| |2024|2023| |£|£| |Financial|assets| |Financial|assets|measured|at amortised|cost|16,282,074|26,062,365| |Financial|assets|measured|at|fair value|through|the| |Statement of|Financial|Activities|BO377,646|58.933.770| |Financial|liabilities| |Financial|liabilities|measured|at amortised cost|27,492,062|24,364,737| |Financial|liabilities|measured|at fair value|through|the| |Statement of Financial|Activities|—_329,250|_834245|

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Financial assets measured at amortised cost comprise trade debtors, amounts owed by group undertakings, other debtors and cash and cash equivalents.

Financial liabilities measured at amortised cost comprise trade creditors, amounts owed to group undertakings, other creditors, and accruals excluding deferred income and soclal security and other taxes.

Financial liabilitias measured at fair value comprise interest rate swaps.

Financlal assets measured at fair value comprise listed investments and investment properties.

| |

Page 47

THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19. OPERATING LEASES: THE CHARITY AS LESSOR

The group earns rental Income by leasing Its properties to tenants under non-cancellable operating leases. Leases In which substantially all risks and rewards of ownership are retained by another party, the lessor, are dassified as operating leases. Payments, including prepayments, made under operating leases (net of any incentives received from the lessor) are charged to the income statement on a straight-line basis over the period of the lease.

At the balance sheet date, the group had contracted with tenants to receive the following future minimum lease payments:

Group

Group
2024 2023
£ £
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 856,163
2,522,593
6,239.706		 817.539
2,482,112
6,623,569
~~9,818,4~~8~~2~~ ~~9,923~~.~~2~~20
Charity
2024 2023
£ £
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 856,163
2,522,593
6,239,706		 817,539
2,482,112
6,623.569
2.1i1d!ia
-		 =2,923,220

Charity

20. RELATED PARTY TRANSACTIONS

C Erwood was appointed as a Trustee of Dame Hannah Rogers Trust on 15 June 2020, a charity in which The Edward Gostling Foundation has a social investment. C Erwood resigned as a Trustee on 1 August 2022. Total property income betwe n 1 April 2022 and 31 July 2022 was £88,610. There was also a social Investment Joan outstanding In respect of the Dame Hannah Rogers Trust at end of 2023 of £300,000.

C Erwood also received trustee expenses in the year to 31 March 2024 which totalled £1,145 (2023: £1,350) in respect of travel and subsistence.

C Sawyers received trustee expenses in the year to 31 March 2024 which totalled £181 (2023: £nil) in respect of travel and subsistence

S O'Sullivan received truste expenses in the year to 31 March 2024 which totalled £102 (2023: £nil) in respect of travel and subsistence.

S O'Sullivan, a Trustee of The Edward Gostling Foundation, provided legal seivices to ACG Participacoes Lida, a 100% owned subsidiary of The Edward Gostling Foundation, in the year to 31 March 2024 which totalled £13.923 (2023: £30,478). There was a balance of £nil (2023: £nil) outs anding as at 31 March 2024.

21. COMMITMENTS

At the year end, the Foundation had a contracted capital commitment of £nil (2023: £r)il).

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THE EDWARD GOSTLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

22. POST BALANCE SHEET EVENT

On 17 July 2024, ACG Rented Properties PLC re-registered from a public company to a private limited company and changed its name to ACG Rented Properties LTD. On 21 August 2024, ACG Rented Properties LTD made a reduction in issued capital to cancel and extinguish all but £4 of ordinary shares,

On 15 April 2024, the Charity purchased Flat 2 in the Windsor property for £710,000. On 30 July 2024, the Charity purchased Flat 3 in the Windsor property for £770,000. The Charity owned the whole property after these acquisitions. On the 15 November 2024 the whole building was sold for £3.05m.

On the 30 September 2024 the Dame Hannah Rogers Trust Programme Related Investment was sold for £3m.

Page 49

THE EDWARD GOSTLING FOUNDATION DETAILED SCHEDULE OF GRANTS AWARDED FOR THE YEAR ENDED 31 MARCH 2024

Grants awarded for £25,000 and above:

2024 2023
£ £
Organisations
48ight Vision Support 100,000 25,000
AWayOut 25,000 -
ABFThe Soldiers’ Charity - 250,000
Accuro {care services} 105,000 “
Age Exchange - 25,000
Alive Activities Ltd 25,000 25,000
Allsorts Gloucestershire 120,000 -
Aphasia Support 75,000 -
Applecast - 125,000
Aspens Charities " 25,000
Autism Bedfordshire 100,000 -
BarrowFarm Riding and Carriage Driving forthe Disabled 75,000 -
Bendrigg Trust - 25,000
BerkshireMSTherapy Centre 25,000 -
Blackmore ValeRDA §0,000 -
Blyth Star Enterprises - 328,651
Brain injury Matters (NI) 25,000 25,000
brainstrust - 25,000
Brendoncare Clubs - 25,000
Bridgend Carers Cenire “ 25,000
CamphillMK Communities - 100,000
Camphill RudolfSteinerSchools Limited 25,000 -
CarlisleYouth Zone - 25,000
Carousel Project 100,000 -
Challengers = 25,000
CHEXS 25,000 “
Chilterns MS Centre - 26,000
Chiltems NeuroCentre 230,000 -
CompassTherapy SupportCommunity 25,000 -
Cotswold Friends 25,000 -
Croydon VoluntaryAssociation forthe Blind - 25,000
CVYP Ltd - CramlingtonVoluntaryYouth Project 25,000 -
DameHannah RogersTrust2019 Ltd 25,000 -
DameVera Lynn Children's Charity 120,000 -
Demelza Hospice Carefor Children - 38,000
Designability Charity Ltd - 50,000
ECHOforExtra Choices in Herefordshire 25,000 -
ELHAP - 25,000
Essex Dementia Care(EDC) 130,000 -
Essex Respite&CareAssociation 75,000 -
ESTEEM 120,000 -
Page50

: |

THE EDWARD GOSTLING FOUNDATION DETAILED SCHEDULE OF GRANTS AWARDED (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Extratime - 25,000
Families United Network 25,000 -
Footsteps Foundation 150,000 -
foreland Fields Charity 100,000
Fulham Good NeighbourService 25,000 -
GivingWorld . 25,000
Harlow StrokeSupport-Rehab Centre 50,000 -
Head2Head Sensory Theatre 25,000 “
Headway Suffolk - 25,000
HeathrowSpecial Needs Centre 25,000 -
Herriot HospiceHomecare (NorthYorkshire Hospice Care} 100,000 -
Home-Start Stroudand Gloucester 25,000 -
Hospice intheWeald 49,000 -
Insight -Counselling Coaching AndSupport Services . 25,000
JennyruthWorkshops Ltd 25,000 -
Kangaroos Mid Sussex 145,000 -
Katherine LowSettlement : 25,000
KEEN London 25,000 -
Kent MultipleSclerosisTherapyCentre 25,000 25,000
Kids Inspire 250,000 -
KindredAdvocacy 25,000 -
Launchpad Reading - 331,974
LinkVisiting Scheme 100,000
LinkAbleWoking Limited - 25,000
Linking Lives UK 50,000 -
Martin House Children's Hospice 500,000 -
Martlets Hospice . 160,000
Maytree Respite Centre - 100,000
Megan BakerHouseLtd . 25,000
Merlin -Cornwall's NeuroTherapy Cenire 25,000 -
MiddlesexAssociation fortheBlind 25,000 -
Mind in Mid Herts - 25,000
Minstead Trust - 100,000
MS-UK 25,000 -
Multiple SclerosisTherapyCentre Lothlan (tradingasCompass.
Therapy. Support Community)		 . 25.000
,
MYTIMEYoung Carers - 25,000
National Star Foundation . 399,388
NeuroTherapy Centre (NTC) - 25,000
Newlifethe charityfordisabled Children 25,000 -
No5Young People 50,000 -
Noah's Ark Children's Hospice : 100,000
North EastAutism Society 250,000 -
North NorfotkCommunityTransport 80,000 -
Northumberland County Blind Association 100,000 -
Omega, the National Association forEnd ofLifeCare
OneSmall Thing		 25,000
1,000,000		 -
250,000
OurTime 75,000 -
Page51

THE EDWARD GOSTLING FOUNDATION DETAILED SCHEDULE OF GRANTS AWARDED (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

OxfordshireSexualAbuseandRape Crisis Centre 25,000 25,000
Phab Ltd 25,000 -
Phyllis Tuckwell 1,500,000 -
PKAVS Mental Health & Wellbeing Hub - 25,000
Pure Insight 1628 25,000 25,000
Rainbow LivingSW . 25,000
ReadfarGood 50,000 “
Regenerate 240,000 -
Revitalise - 250,000
RomneyMarsh CommunityHub 25,000 -
Rowan Humberstone Ltd - 25,000
Royal British Legion Industries 500,000 -
Safe New Futures 100,000 25,000
SafetyNet (UK) 25,000 -
SeaSanctuary “ 40,000
Sebastian's Action Trust . 7,000,000
SecondChance Childrens Charity 85,000 25,000
Sparkle (SouthWales) 25,000 25,000
StAnn's Hospice - 500,000
St Catherine's Hospice 250,000 -
Stanley Grange CommunityAssociation 25,000 -
Stepping Stones Playand Learn Group 65,000 -
Surrey Blues Disability Football Club 50,000 -
Thames Hospice 1,500,000 -
TheArchway Foundation 55,000 “
The Brain and SpineFoundation 25,000 25,000
Tha Bridge ProjectSudbury 25,000 -
TheChamwell Centre Charity - 25,000
The east to westTrust 170,000 -
The Garwood Foundation - 250,000
TheGrace Eyre Foundation - 100,000
The Hextol Foundation 25,000 -
TheJessie MayTrust 250,000 -
The MortimerSociety “ 25,000
The Multiple Sclerosis TherapyCentreNW 25,000 -
The Neurokinex Charitable Trust 25,000 -
TheRose Road Association 36,785 1,000,000
The Sara LeeTrust - 25,000
The Stable FamilyHomeTrust - 1,178,495
TheThomleyHallCentre Limited (Thomley) 50,000 25,000
TheWingate Special Children'sTrust 25,000 -
TheWoedland Centre Trust-CampMohawk 100,000 -
TogetherCollective - 25,000
Town BreakSCIO - 25,000
TrustLinks 25,000 -
Veterans Aid - 25,000
Visyon 25,000 25,000
Waltham ForestChurches NightShelter(WFCNS) 25,000 100,000
Page52

THE EDWARD GOSTLING FOUNDATION DETAILED SCHEDULE OF GRANTS AWARDED (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Waterloo Uncovered 25,000 -
WatfordShelteredWorkshop Limited “ 250,000
WestCumbria DomesticViolenceSupport 25,000 -
WestbankCommunityand Health Care - 25,000
Whitehaven CommunityTrust Limited 25,000 25,000
Whizz-Kidz - 7,000,000
WindsorChristian Action 25,000 -
Womankind BristolWomen'sTherapyCentre
Women's Health Matters		 25,000
220,000		 -
25,000
YellowSubmarine Holidays 250,000 25,000
You RaiseMe Up 25,000 -
Young Peopleand Children First 25,000 -
Youth and Families Matter 50,000 -
Youth Concern 150,000 -
11,311,785 9,166,508

Page 53

THE EDWARD GOSTLING FOUNDATION DETAILED SCHEDULE OF GRANTS AWARDED (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
||||| |---|---|---|---| |2024|2023| |£|£| |Outstanding|pledges| |Due|within|7|year| |Organisations|6,933,018|3,778,253| |Due|greater than|1|year| |Organisations|184,140|_|[386.465]| |Total outstanding|pledges|7,117,158|_4,164.718|

----- End of picture text -----

Page 54