THE GUISE-MIST MEMORIAL TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS for the period from 6 April 2023 to 5 April 2024 Registered Charity number: 1076353
THE GUISE-MIST MEMORIAL TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CONTENTS Pages Administrative information Trustees, report induding statemenl of Trustees. responsibilities Independent examiners. report Statement of financial activities (inGluding summary of income & expenditure account) Balance sheel Notes to the finanaal staterrents
THE GUISE-MIST MEMORIAL TRUST ADMINISTRATIVE INFORMATION Trustees: D A Seccombe WSBath Mrs L Edmonds Ms S Guise-mist Principal address= 516 Weekin Works 112- 116 Park Hill Road Hartx)rne Birniingham B179HD Bankers: Lloyds Bank PIC Unit 2 & 3 Caxion Gate 36138 New Street Bimingham B2 4LP Independent Examiners: Malcolm Piper & Company Limited Chartered Accountants Kingsnorth House Blenheim Way Birniingham West Midlands B44 8LS Solicitors: Lodders Number Ten. Elm Court Arden Street Stratford upon Avon Wanvickshire CV37 6PA Investment Advisors: EFG Harris Allday 33 Gr8at Charles Street Bimiingham B3 3JN Registered Charity number: 1076353 Page 1
THE GUISE-MIST MEMORIAL TRUST TRUSTEES, REPORT The Trustees present their report and the unaud¢ted financial statements for the year ended 5 April 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) °Accounting and Reporting by Charities. (FRS 102) in preparing the annual report and financial statements of the Charity. NATURE OF THE GOVERNING INSTRUMENT The Guise-mist Memorial Trust is conslituted under a Deed of Trust dated 23 June 1999 and is registered as a Chanty in England with The Chanty Commission (registered Charity number 1076353). TRUSTEES The Trustees who held office during the year were as follows: D A Seccombe WSBath Mrs L Edmonds Ms S Guise-mist, The Trustees of the Charity are enlitled to hold office for lrfe. As the Charity becomes aware of individuals wilh an interest in Ihe Charity's activities, or where it is perceived that a Trustee can complement the skills held by current Trustees, they put in place a plan to train them. PRINCIPAL ACTivrrY The main objective of the Trust is to provide donations and grants to any charitable organisations or individuals in their absolute discretion. This includes donations to support the provision or maintenance of resuje homes. animal sanctuaries and other facilities for the reception and care of such unwanted animals to fund the provision of treatment for such sick or ill-treated animals to any other chanties considered appropnate by Ihe Trustees. The Trustees seek to use the income and aso capital of the Trust. if appropriate, to promote these objectives. PUBLIC BENEFIT The Trustees confimi that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aim5 and objectives and in planning future activities and setting donation and grant making policy for the year. FINANCIAL REVIEW The results for the year and financial position of Ihe Charity are shown in the Statement of Financial Activities on page 6 and Balance Sheet on page 7. Page 2
THE GUISE-MIST MEMORIAL TRUST TRUSTEES, REPORT (Continued) INVESTMENTS The Trustees monitor investments through the appointment of an investment advisor and the returns achieved on those investments against the agreed strategy. In the current year the Trust purchased investments with a market value of £33.885. The Trust also sold investments with a market value of £40.715. The change in markel value of investments in the year resulted in a gain of £9,522 (2023: a loss of £82.455}. This is an increase in the portfolio value which refiects the general recovery within the equity markets following significant falls in the prior year. The Trustees continue to tske a longer-term view on the holding of investrnents within the Trust and are satisfied that the investment strategy of the investment advisor will impact positively in the medium term. The market value of the quoted investments held during the year is therefore considered to be aptable. RESERVES POLICY At 5 April 2024 the Charity held reserves. less inveslment assets. of £23,849 (2023: £17,585). Investment assets are invested to provide a future income for the Trust and are therefore not generally considerea io De distnbutaDle asset5. However, the Trustees have the discretion to Use income as well as the capital of the Trust. if appropriate. to meet its objectives. Reserves are necessary because all income is derived from the distribution received from the Investment5 in the shares and funds held. These distributions are variatrAe and dependent upon the economic climate. Additionally. distributions are not received in regular equal amounts, resulting in periods of time when no income is being received but expendtture is still incurred. PLANS FOR FUTURE PERIODS The Trustees intend to continue with the provision of donations and grants to other charrtable organisations from income received from inveslments. They intend to VIeW the retums achieved on an annual basis. TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Trustees. Report and financial statements in accordance with applirAhlp. law and United Kingdom accounting standards (United Kingdom Generally Aoceptcd 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 the incoming resources and application of the resources of the Charity for that year. In preparing these financial statements, the Trustees are required to: sdect 5Ultable accounting policies and then apply them consistently: observe the methods and principles in Ihe Charities SORP 2015 (FRS 102): make judgements and estimates that are reasonable and prudent; state whether applicable accounting stsndards have been followed, subject to any material departures discussed and explained in the financial statements,. prp.p8re financial statements on the going concarn basis unless it 18 inappropriate to prcsume that the Charity will conlinue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charty and enable them to ensure that the financral statements comply wth the Charities Act 2011, the Charities (Accounts and Reports) Regulats'ons 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taknng reasonable steps for Ihe prevenlion and detection of fraud and other irregularities. Page 3
THE GUISE-MIST MEMORIAL TRUST TRUSTEES, REPORT (Continued) STATEMENT OF DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER We, the Trustees of the Charity who hdd offKe at the date of approval of these financial statements, as set out above, each confimi so far as are aware. that: there is no relevant informath)n of which the ChariWs Independenl Examiner is unaware., and we have taken all the steps that we ought to have tsken as Trustees in order to make ourselves aware of any relevant inforn)ation arKI to establish that Charivs Independent Examiner is aware of that information. Approved by the Trustees on............. .and signed on its behalf by:" DASec Trustee Page 4
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE GUISE-MIST MEMORIAL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GUISE4IIST MEMORIAL TRUST I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024. which are set out on pages 6 to 9. RESPONSIBILITIES AND BASIS OF REPORT As the Charty's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Act,) I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carying out my examinalion I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my exarnination. I confim that no material matters have come to my attenb'on in connection with the examinab'on giving me cause to believe that in any material respect: (1) accounting records were not kept in respect of the Charity as required by section 130 of the {2) the accounts do not accord with those records or (3) the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair view" which is nol a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Peter Whitehead BA FCA Malcolm Piper & Company Limited Chartered Accountants Kingsnorth House Blenheim Way Birniingham B44 8LS Page 5
THE GUISE-MIST MEMORIAL TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2024 Unrestricted funds 2024 2023 Noto Income Inveslments Dividends and income from investments 26,573 28,064 Total income 26.573 28.064 Expenditure on: Charitable activities Donations and grants {22,000) (20,000) Other Legal and other professional fee5 (5,139) (5.058) Total expendlture 8.942 25,058 Net lexpenditure)lincome before gains and losses (566) 3.006 Net gains l Oosses) on investments 9,522 (82,455) Net incomel (expenditure) and Net movement in funds 8.956 (79.449) Total funds brought forward at 6 April 2023 650,492 729,941 Total funds carried fonNard at 5 April 2024 659.448 650,492 All gains and losses recognised in the year are included above. These unaudtted financial statements have been subjKt to Independenl Examination. See report on page 5. The notes on pages 8 to 9 fom part of the financial stalements. Page 6
THE GUISE-MIST MEMORIAL TRUST (Registration number 1076353) BALANCE SHEEr AS AT 5 APRIL 2024 2024 2023 Note FIXED ASSETS Investments 635.599 632,907 CURRENT ASSErs Cash at bank 23.849 17,585 Net Assets 659,448 650,492 Charity Funds Unrestricted funds 659,448 650.492 Total Charity Funds 659,448 650,492 These financial ststements were approved for issue on ............... behaif by: signed on its S Guise-mist - Trustee ccombe - Trus W S Bath - Trustee monds - Trustee These unaudited financial statements have been subject to Independent Examination. See report on page 5. Thc notes on pages 8 to 9 form part of the financial statemetrts. Page 7
THE GUISE-MIST MEMORIAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 1 ACCOUNTING POLICIES a. Charity status The Guise-mist Memorial Trust is constituted under a Trust Deed in the United Kingdom and registered with the Charity Commission in England. The address of the principal office is given in the Charty information on page 1 of these financial statements. The nature of the Charity's operation and principal activities are given on page 2. b. Basis of accounting The financial statemenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (SORP} applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United 'ngdoM and Republic of Ireland (FRS 102) issued in October 2019. the Charities Act 2011 and UK Generally Accepted Accountinq Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include investments at market value. The presentation currency of the financial statements is the pound sterling {£). c. Fund a¢counting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objective of the Charity and have not been designated for other purposes. d. Income recognition All income is induded in the SOFA when the Charity is legally entitled to the income after any perfomance conditions have been met; the amount can be quantified with reasonable accuracy; and it is probable that the income will be received. Investment income is earned through holding assets for investment purposes such as shares and investment funds. It includes dividends and interest received and any associated tax credrts once received. e. Expenditure recognition All expenditure is accounted for on a cash expended basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. It is categorised un(Jer the following headings.. Expendrture on charitable activibes indudes donations and grants paid; Other expenditure represents administration and govemance cost of running the charity. f. Investments Investments are stated at market value at the balance sheet date. The SOFA indudes the net gains and losses arising on revaluations and disposals throughout the year. g. Tax The Charity is exempt from taxation under section 506(1) of the Taxes Act 1988 on the basis that the fund is recognised as a Charity by the Inland Revenue according to the terms of the Trust Deed dated 23 June 1999. Page 8
THE GUISE-MIST MEMORIAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 2 LEGAL AND OTHER PROFESSIONAL FEES 2024 2023 Trustee expenses Trustee insurance Independent examiners fee Stockbrokers, fees 49 328 972 3,790 110 323 972 3.653 5,139 5.058 3 TRUSTEES, REMUNERATION No remuneration has been paid or is payable lo the Trustees either directly or indirectly in the current or prior year. Trustee meeting and other expenses of £49 (2023: £110) and Trustee indemnity insurance of £328 (2023: £323) was paid by the Chanty in respect of all Trustees. 4 EMPLOYEES There were no full or part tirne employees during the year (2023: Nil). 5 INVESTMENTS Market value blfwd 06.04.23 Addltions Market value clfwd 05.04.24 Change in market value Disposals Equities listed on UK Stock Exchange 632.907 33,885 (40,715) 9.522 635.599 6 STATEMENT OF FUNDS At 06.04.23 Net gain on Expenditure investments At 05.04.24 Income Unrestricted funds and Total funds 650.492 26,573 (27,139) 9.522 659.448 Details of the fund are given in note 1c. Page 9