**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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP,
- make judgements and estimates that are reasonable and prudent;
• 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:
- examine the accounts under Section 145 of the 2011 Act;
- follow the procedures laid down in the general directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **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:
- 1) which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with Section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records, and comply with the accounting requirements of the 2011 Act;
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