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2021-04-05-accounts

THE GILANDER FOUNDATION REPORT AND UNAUDITED ACCOUNTS

FOR YEAR ENDED 5 APRIL 2021

Charity Registration No: 1070793

THE GILANDER FOUNDATION

UNAUDITED TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 5 APRIL 2021

The Trustees present their report and accounts of the charity for the year ended 5 April 2021.

Reference and administrative details of the charity

The full name of the charity is The Gilander Foundation, charity registration number 1070793.

Trustees

The following people have acted as Trustees of the charity during the year:

Alexander Foster Gillian Foster Michael Foster Lucia Lamb The principal address of the charity is: Church Farmhouse Blakesley Towcester Northamptonshire NN12 8RA Professional Advisors Bankers: Royal Bank of Scotland London Drummonds Branch 49 Charing Cross London SW1A 2DX Solicitors: Charles Russell Speechlys 5 Fleet Place London EC4M 7RD

Structure, Governance and Management

Status and constitution

The full name of the charity is The Gilander Foundation, charity registration number 1070793. It is governed by the Trust Deed of 17 January 1997 and by the Charities Act 2011.

Recruitment & appointment of Trustees

There is no current requirement for additional Trustees. Suitable Trustees are appointed when a vacancy arises

Trustees’ induction and training

New Trustees are made fully aware of the aims and objectives of the charity.

Organisational structure

The charity is operated by the Trustees and has no paid employees.

Risk management

The major risks, to which the charity is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate those risks.

1

THE GILANDER FOUNDATION

UNAUDITED TRUSTEES' ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

Objectives and activities

The charity was created by Trust Deed on 17 January 1997 and received a donation of shares valued at £54,927 on 5 June 1997 which is to be treated as expendable endowment. A further two donations of shares were received, valued at £78,035 on 14 December 2000, and £73,200 on 28 March 2008. On 29 September 2009 100,000 shares in HIM Income Fund and on 6 August 2013 a further 20,000 Hiscox PLC Ordinary £0.065 shares were added to the fund.

Donations have been made to a variety of causes and charities that the Trustees wish, at their discretion, to support. This also covers their interest to help charities in South Africa and within the local area of Northamptonshire and embraces local branches and initiatives of some of the larger UK charities.

The Trustees aim to spend all income annually and continue to build the capital base. At present, the assets are in the shares of Hiscox Plc and Polar Capital Financials Income and Global Funds. Whilst the insurance business is in a strong market cycle, the Trustees are mindful that the exposure may be reduced in future.

Achievements and performance

The Trustees believe that the objectives of the charity have been fulfilled during the year and will continue to operate in this manner for the foreseeable future.

The Trustees consider the performance of the charity for the current year to have been satisfactory.

Financial review

The results for the year show net incoming/(outgoing) resources of £16,653 (2020: (£3,858)). During the year charitable donations of £39,023 (2020: £43,512) have been made.

Reserves policy

The expendable endowment fund is maintained to generate income for the direct charitable expenditure. A small reserve is maintained in unrestricted funds for contingencies.

As at 5 April 2021 reserves of £1,137,713 (2020: £941,173) were held. Of these £343,342 (2020: £221,500) were unrestricted and £794,371 (2020: £719,673) were expendable endowment. The Trustees feel that the balance carried forward on the expendable endowment fund at 5 April 2021 is reasonable in the view of likely future commitments.

The balance on the unrestricted fund available is adequate to fulfil the obligations of the charity. The balance of the unrestricted fund at the year end was £343,342 (2020: £221,500)

Investment policy

It remains the Trustee’s intention to retain the shareholding in Hiscox Plc, Polar Capital Financials, Polar Capital Global and Polar Income funds for the time being. The Trustees do review their investment policy on a regular basis.

Plans for future periods

There are no major changes envisaged to the management of the charity.

Public benefit

In drafting this report, the Trustees have complied with the duty in Section 4 of the Charities Act 2011, to have due regard to public benefit guidance published by the Charity Commission.

2

THE GILANDER FOUNDATION

UNAUDITED TRUSTEES' ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources of the charity for that period in preparing these financial statements, the Trustees are required to:

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees and signed on their behalf by:

Signed:

A Foster G Foster

M Foster L Lamb

Date: 27 January 2022

3

THE GILANDER FOUNDATION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

FOR THE YEAR ENDED 5 APRIL 2021

I report on the accounts of the charity for the year ended 5 April 2021, which are set out on pages 5 to 9. This report is made solely to the Trust’s Trustees, as a body, in accordance with Section 145 (1) of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner’s report, and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trust and the Trustees, as a body, for my work, for his report, or for the opinions I have formed.

Respective responsibilities of Trustees and Examiner

The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is needed. It is my responsibility to:

Basis of independent Examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view”, as this report is limited to those matters set out in the statement below.

Independent Examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

M Howard FCA on behalf of Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Date: 28 January 2022

4

THE GILANDER FOUNDATION

UNAUDITED STATEMENT OF FINANCIAL ACTIVITES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 5 APRIL 2021

Note
Incoming resources
Incoming resources from generated funds
Voluntary income
Donations
Gift aid
Investment income
3
Total incoming resources
Resources expended
Costs of generating funds
4
Charitable activities
5
Total resources expended
Net incoming/(outgoing) resources before
transfers
Transfer
Unrealised gain/(loss) on investments
Realised gain/(loss) on investments
Reconciliation of funds
Balances brought forward
Balances carried forward		 General Fund
Unrestricted
Fund
£
35,163
8,539
17,299
61,001
1,279
43,069
(44,348)
16,653
(7,046)
120,509
(8,274)
221,500
343,342		 Expendable
Endowment
Fund
£
-
-
-
-
-
-
-
-
7,046
47,396
20,256
719,673
794,371		 Total
Funds
2021
£
35,163
8,539
17,299
61,001
1,279
43,069
(44,348)
16,653
-
167,905
11,982
941,173
1,137,713		 Total
Funds
2020
£
2,418
605
42,297
45,320
1,676
47,502
(49,178)
(3,858)
-
(632,806)
-
1,577,837
941,173

The notes on pages 7 - 9 form part of these accounts. The Statement of Financial Activities includes all gains and losses in the year. All activities are classed as continuing.

5

THE GILANDER FOUNDATION

UNAUDITED BALANCE SHEET

FOR THE YEAR ENDED 5 APRIL 2021

Note
Fixed assets
Investments
8
Current assets
Cash at bank and in hand
- Royal Bank of Scotland 5069
- Royal Bank of Scotland 4208
- C Hoare & Co
- Psigma Investment - cash accounts
HMRC Gift Aid debtor
Creditors: amounts falling due within
one year
9
Net current assets
Net assets
Represented by:
Funds
10-11		 Unrestricted
Funds
2021
£
278,041
278,041
3,152
-
8,000
49,747
8,539
69,438
(4,137)
65,301
343,342
343,342		 Expendable
Endowment
Fund
2021
£
794,371
794,371
-
-
-
-
-
-
-
-
794,371
794,371		 Total
Funds
2021
£
1,072,412
1,072,412
3,152
-
8,000
49,747
8,539
69,438
(4,137)
65,301
1,137,713
1,137,713		 Total
Funds
2020
£
925,784
925,784
5,495
54
-
11,645
605
17,799
(2,410)
15,389
941,173
941,173

The accounts on pages 5 - 9 were approved by the Trustees and authorised for issue on 27 January 2022 and signed on their behalf by:

A N Foster

6

THE GILANDER FOUNDATION

UNAUDITED NOTES ON ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2021

1 Principal accounting policies

Basis of accounting

The accounts have been prepared in accordance with applicable accounting standards. The Charities Act 2011, the Statement of Recommended Practice (SORP): "Accounting and Reporting by Charities" published in March 2005 and under the historical cost accounting rules, except for investments which are included at market value.

Incoming resources

Income is recognised in the period when the charity is entitled to receipt and the amount can be measured with reasonable certainty. The charity's income and surplus were derived from continuing operations during the current and previous years. No operations have been acquired or discontinued during these years.

Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is included on the accruals basis and has been classified under headings that aggregate all costs related to the category.

The costs of generating funds are investment management costs.

Costs of charitable activities include direct operational costs and an apportionment of overhead and support costs, as shown in note 5.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

Funds accounting

Funds held by the charity are:-

Unrestricted general funds - these can be used in accordance with the charitable objects at the discretion of the Trustees.

Endowment funds - these have been donated to the charity.

Investments

Listed investments have been stated at market value at the balance sheet date. Realised gains and losses are calculated as the difference between sale proceeds and market value at the previous balance sheet date.

2 Capital commitments

There were no capital commitments during the current or previous year.

3

Investment income
Dividends and fixed interest
Bank interest		 2021
£
17,296
3
17,299		 2020
£
42,271
26
42,297

7

THE GILANDER FOUNDATION

UNAUDITED NOTES ON ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2021

(continued)

4
Costs of generating funds
General Fund
Unrestricted
Investment management costs
1,279
5
Charitable activities
Donations - Appendix 1
Accountancy
Independent Examiner remuneration
Subscriptions
Bank charges
6
Net incoming resources for the year
This is stated after charging:
Accountant's remuneration
Independent Examiner's remuneration		 Expendable
Endowment
-		 2021
£
1,279
2021
£
39,023
1,620
720
1,560
146
43,069
2021
£
1,620
720
2,340		 2020
£
1,676
2020
£
43,512
1,670
740
1,450
130
47,502
2020
£
1,670
740
2,410

7 Taxation

The company is a registered charity and as such is not generally liable to taxation on its income or capital gains.

8 Fixed asset investments

Fixed asset investments
Quoted investments
Market value at 6 April 2020
Additions during the year
Disposals during the year
Net unrealised investment gain/(loss)
Net realised investment gain/(loss)
Market value at 5 April 2021		 2021
£
925,784
132,544
(165,803)
167,905
11,982
1,072,412		 2020
£
1,558,590
-
-
(632,806)
-
925,784

The historical cost of the listed investments, excluding cash, held at 5 April 2021 was £459,320 (2020 - £480,598).

The following investments were held at 5 April 2021 with a value in excess of 5% of the total market value of listed investments: Hiscox PLC Ordinary £0.065 Polar Capital Financials Income Nav

8

THE GILANDER FOUNDATION

UNAUDITED NOTES ON ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2021

(continued)

9 Creditors: Amounts falling due within one year 2021 2020 £ £ Trade creditors 684 - Accruals 2,410 2,410 Bank overdraft - - Royal Bank of Scotland 4208 1,043 4,137 2,410

10 Unrestricted funds

Unrestricted Balance
6 April
2020
£
221,500		 Incoming
resources
£
61,001		 Outgoing
resources
£
(44,348)		 Transfer
between
funds
£
(7,046)		 Unrealised
gain
£
120,509		 Realised
loss
£
(8,274)		 Balance
5 April
2021
£
343,342

11 Expendable endowment fund

The expendable endowment fund consists of 70,000 ordinary £0.065 shares in Hiscox PLC, 131,000 shares in Polar Capital Financials Income Fund Income Nav and 20,000 ordinary £0.025 shares in Polar Capital Holdings PLC.

9

THE GILANDER FOUNDATION

APPENDIX 1 - DONATIONS

FOR THE YEAR ENDED 5 APRIL 2021

Date £ Payee

22/04/2020
15/05/2020
15/05/2020
09/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
16/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
Cfwd		 100
SAC
250
Battersea Summer Scheme
250
Northants Community Foundation
250
Dominc Evans bike ride
250
West London Action for Children
250
Ballaugh Burial Ground Authority (Eve de Trafford graves)
200
Happy Days
300
Warks & Northants Air Ambulance
250
Water Aid
250
Alzheimer's Society
250
The Cure Parkinsons Society
250
Amref
250
Ashmolean Museum
200
Asthma UK
200
Autism Initiatives
200
Bowel Cancer UK
250
British Liver Trust
250
BYHP
200
Brainwave
250
British Forces Foundation
300
Bibic
200
Blind Veterans UK
250
Breast Cancer Now
250
Arthritis Research
100
ABF The Soldiers Charity
250
Camp & Trek
200
Cynthia Spencer
250
Clothing Solutions
250
Dogs for Good
200
Canine Partners
250
Crohn's & Colitis UK
250
Combat Stress
175
(The) Farming Community Network
200
Fight For Sight
200
Contact (inc Fledglings)
250
Hereford Cathedral Perpetual Trust
250
The Gurkha Welfare Trust
250
Kidz Klub Coventry
175
Koestler Arts
250
League of the Helping Hand
250
Listening Books
250
Meningitis Now
175
MNDA
200
Otaker Kraus Music Trust
250
Treloar Trust
250
Transform Housing & Support
250
Turn2Us
250
Kidney Research UK
11,025

10

THE GILANDER FOUNDATION

APPENDIX 1 - DONATIONS (continued)

FOR THE YEAR ENDED 5 APRIL 2021

Date
B/fwd
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
18/06/2020
27/06/2020
27/06/2020
22/07/2020
12/10/2020
12/10/2020
12/10/2020
12/10/2020
26/10/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
Cfwd		 £
Payee
11,025
200
NARA - The Breathing Charity
250
NSPCC
250
Perthes Assoc
200
Rainforest Concern
200
Scope
250
Soundabout
250
The Eve Appeal
250
Hearing Dogs for the Deaf
250
N E of Scotland Music School
250
NAPAC
250
Vine Community Trust
250
Sense
150
Mercia Therapy Centre
250
The Katharine House Hospice, Banbury
250
Irish Guards Charitable Trust
200
The Woodland Trust
250
Northants Rape & Incest Crisis Centre
250
King Edward VII's Hospital
250
The Wheelyboat Trust
250
Revitalise
250
Conquest Art
250
Coram BAAF
250
Aquarius Action Projects (was CAN)
200
Autistica
250
Shipton PCC (ref Foster graves)
100
St John Ambulance (Northants)
250
Newlife
500
Garden Museum
250
PACE
250
Rainbow Trust
250
Child Bereavement Trust
300
Breadline Africa
200
The Cure Parkinsons Society (Meriel Buxton)
150
School Readers (Manners)
700
Alexandra Education
700
National Horse Trust
700
SAEP
700
Western Cape Equine Trust
250
Resurgo Trust (MAF)
600
Independence at Home
250
SIA
250
Support Dogs
250
Lifelites
250
David Rattray Memorial Trust
100
Jo's Cervical Cancer Trust
250
Nelson Mandela Children's Fund (UK)
100
Mouth & Foot Painting Artists
150
Friends of Wells Cathedral
24,425

11

THE GILANDER FOUNDATION

APPENDIX 1 - DONATIONS (continued)

FOR THE YEAR ENDED 5 APRIL 2021

Date £ Payee

B/fwd
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
20/11/2020
Cfwd		 24,425
200
Sulgrave Manor Trust
200
Action for Children
250
Autism Initiatives
250
Action for ME
200
Medical Detection Dogs
250
British Red Cross (National)
150
Northants Yeomanry Assoc Ben Fund
250
Bristol Children's Help Society
200
Cure Parkinsons Trust (National)
250
Farm Africa
250
Guide Dogs
250
Hope Centre
100
Marie Curie
250
Mind
400
Prostate Cancer UK
200
Stroke Association
250
Sightsavers
200
Serve
200
Starlight
250
Target Ovarian Cancer
200
Young Minds
250
Bletchley Park Trust
200
Penny Brohn UK
200
Bobath Centre
200
Brain Research Trust/UK
250
Contact the Elderly
250
Breadline Africa
250
Coram BAAF
250
Asthma Relief
250
Katharine House Hospice (Stafford)
250
British Wireless for the Blind Fund
200
Starfish Greathearts Foundation
200
Oakley Rural
250
Give a Kidney
250
National Osteoporosis Society
250
The Royal Marsden Cancer Charity
350
Fine Cell Work
250
Amref Health Africa UK
250
Great Ormond Street Hospital Children's Charity
250
Save the Children
200
Rhinology & Laryngology Research Fund
200
The Institute of Cancer Research
250
PHOEBE
250
The Performing Arts Childrens Charity
55
British Trust for Ornithology (BTO)
250
Bloodwise
250
RNIB
250
Royal Botanic Gardens, Kew
35,480

12

THE GILANDER FOUNDATION

APPENDIX 1 - DONATIONS (continued)

FOR THE YEAR ENDED 5 APRIL 2021

Date £ Payee
B/fwd 35,480
20/11/2020 250 KidsOut UK
20/11/2020 200 SANE
20/11/2020 250 Jasmine House (Leicester Rape Crisis)
20/11/2020 250 The RowUK Foundation
20/11/2020 350 StandAlone
20/11/2020 250 Myaware
20/11/2020 300 Siblings Together
20/11/2020 250 Cransley Hospice
20/11/2020 250 The Pituitary Foundation
20/11/2020 250 Dramatize Theatre Charity
11/11/2020 200 The Royal British Legion
20/11/2020 250 Riding for the Disabled (RDA)
20/11/2020 250 Cardiac Risk in the Young (CRY)
20/11/2020 100 North East Scotland Music Society
01/12/2020 100 St Andrew's Healthcare Donations Account
01/12/2020 150 St John Ambulance (Northants)
18/01/2021 250 Handicapped Childrens Action Group
25/01/2021 243 Avon Bulbs Snowdrops

Outstanding cheques written off

16/06/2020 (250) Breast Cancer Now 18/06/2020 (250) Perthes Assoc 18/06/2020 (200) Autistica

Historic outstanding cheques written off now banked

24/10/2019 100 Jo's Cervical Cancer Trust TOTAL 39,023

13