REGISTERED CHARITY NO.. 1096101
THE G D CHARITABLE TRUST
TRUSTEES, REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
7489W.I

THE G D CHARITABLE TRUST
Trustees, Report forthe year ended 31 December 2020
Contents
Page
Trustees, Report
Independent Examiner's Report
Statement of Financial Aclivilies
Balance Sheet
Notes to Financial Slalements
8-12
207469EO.

THE G D CHARITABLE TRUST
Trustees, Report for the year ended 31 December 2020
The Trustees present their report and the audited financial statements ol the charity lor the year ended
31 December 2020. The Trustees have adopted the provisions of the Statement of Recommended
Practice ISORPI'Aceoun11ng and Reporting by Charities. IFRS 1021 in preparing the annual report and
financial slalemenls of the charity.
The financial slalemenls have been prepared in accordance with the accoun11ng policies set out in
notes lo the accounts and comply with the Trust's governin9 document. the Charities Act 2011 and
Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo chaiilies
preparing their accounts in a¢¢ordan¢e with the Financial Reporting Standard applicable in the UK and
Republic ol Ireland.
OBJECTIVES AND ACTIVITIES
The Trust was established by a Deed dated 1 November 2002 and was registered as a Charity (No.
10%1011. The founder was George Lincoln Duffield. The Trijsl's objectives, as per ils Deed, are to
support charities registered with the Charity Commission for England and Wales. in particular those
which fall within one of the four described elassrficalions of charitable activity, as listed below.
In general terms. the Trust aims lo support the following charitable areas (but not exclusivelyl'.-
lal
relief of animal suffering..
preservation of the environment.,
Ibl
promotion of equal opportunities for disabled people.,
relief for the homeless.
Idl
The objects of the Trust are defined as meaning such purposes as are charitable according lo the law
of England and Wales.
Selecting applicants and making awards
In genera1, grants are made to registered charitable organisalions rather than individuals and the
Trustees con8idgr applications for grants at their regular meetings.
Vvhere proposed recipients are not registered charities, the Trustees undertake a thorough examination
of the organisalion lo ensure the purpose of the grant is properly Considered lo be charitable and that
there are mèans of ensuring, so far as reasonably practicable, that any grant made lo the organisalion
shall be properly applied to su¢h ¢haiilable purpose or repaid lo the Trustees. Advice will be sought,
as necessary, from the Trust's lawyers as to the eligibility of such proposed recipient.
Public Benefit Statement
The Trustees have had regard to the Charity Commission's guidance on public bene11t. The charity's
aim5 are far-reaching and for the public benefit. By making grants to organisations in accordance with
the Trust's aims the TrLlStees are confidenl Ihal their public benefit duty Is fulfilled. The Trustees also
consider that there is no delrimenl, harm or private benefit Ihal arises from carrying out the Trust's aims.
a174WO 1

THE G D CHARITABLE TRUST
Trustees, Report for thè year ended 31 December 2020
ACHIEVEMENTS AND PERFORMANCE
The Trustees are again pleased to report a strong grant making programme. The Trust Funds are held
in investments and cash. The investment managers throughout the year were Julius Bar. Investment
perfo[man￿ is reviewed by the Irusl¢es. During the year the investment portfolio increased in value
by £130,262 from £4,286.263 to £4,416,525 as per Note 412019.. an increase of £419.992).
FINANCIAL REVIEW
Income
The 10181 income for 2020 was £79,307 12019.. £100.4161. This comprised dividends and other
investment income.
Charitable and other expenditure
Nine grants were awarded of £191,500 in lolal12019.. Six grants - £15,500). These were recognised
and paid during the year. AdministralionlsUPPOrt costs were £10,633 12019.. £11,242). The lolal
Gharilable expenditure is therefore £202.13312019. £26,742). Expendf(ure relating lo fundraising costs
was £49,615 {2019' £46,4171. Other than granls. the total expenses were £60,249 12019 £57,659),
which represents approximately 1.300/¢ ol the nel assets of the Trust Fund as al 31 December 2020
11.240kn in 20191.
Investment pollcy
The Trust Deed gives the Trustees very wide powers of investment and the policy of the Trustees is lo
seek to achieve a balanced portfolio of income Producing securities, which may include fixed Interest
securities, and U.K. and overseas publicly quoted equities in such proportion5 a5 is appropriate lo
economic and inveslmenl Conditions al any given time. The Trustees do not wish to invest in private
equty holdings,
Reserves Policy and Going Concern
The Trustees have established 8 Resenjes Policy with refe￿nce lo Charity Commission guidance
ICC191 and accounting standards, with the aim of spending any income from investments in any one
year. Cash flow is carefully monitored lo match income receipts with operating expenditure. Subject to
this, they do not feel that reserves are necessary. Whilst the Trustees do not intend to build up reserves
for unspecified purposes, if the applications received do not warrant grants equal lo the income any
unspent income will be carried fO￿ard to the next period All incoming resources in 2020 were used
lo pay gran15 and expenses. The balance of the expenditure was provided by transferring fundB from
the Expendable Endowment Fund lo the unreslricled fund bring Ihe balance lo nil12019'. £64.9601. The
Expendable Endowment Fund al the year-end was £4,630,96612019.' £4,596.8741.
20746￿￿.1

THE G D CHARITABLE TRUST
Trustees. Report for the year ended 31 December 2020
Rlsk Management Policy
The major risks lo which the Trust is exposed, as identified by the Trustees, have been reviewed and
systems and procedures have been established to manage those risks. In particular. as mentioned
above, the Trustees do not enter into commitments in excess of their available cash resources and as
a result they operate in a very low iisk environment. Any drop in income received will be matched by
an appropriate reduction in expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Trust deed dated 1 November 2002 directs the Trustees lo use the income of the TrLisI and confers on
the Tru51ees the power lo use the Capital of the Trusl in promoting such charitable objects as the
Trustees may, in their absolute discretion, determine. The Tru51ees also have power to accumulate the
income of the Trust for 21 years from the dale of the dee(5.
Appolntment of Trustees
Trustees are appointed by Deed In a¢cordan¢e with the Trust Deed. The Founder (George Lincoln
Duffieldl is 8 Tiuslee for life and the other Truslees hold fixed terms of office The Founder will appoint
future Trustees during his lifetime and after his death Natasha Duffield will make the appointments as
declared by Deed dated 26 November 2002.
Trustee Inductlon and Training
New Trustees are briefed on their legal Obl￿allonS under charity law, the Charity ComMiss￿n guidance
on publi¢ benefit, informed of the contents ol the Will, decision-making processes. Ihe business plan
and recent financial performance of the Trust before taking on the Tole they meet key advisors and other
Trustees.
REFERENCE AND ADMINISTRATION DETAILS
The registered name of the Trust is The GD Charrtable Trust.
11 is registered with the Charity Commission under number 1096101.
The principal office ol the Trust is One Bartholomew Close, London, EC1A 7BL.
Trustees
The Trustees on the dale the report was approved or who served as a Trustee in the reporting period
were..
George L1ncoln Duff ield (Founder)
Nalasha Velvet Duffield
Alexander Seamus Filzgibbons
20746960 1

THE G O CHARITABLE TRUST
Trustees, Report for the year ended 31 De¢emb8r 2020
Advisors
Principal Office..
One Bartholomew Close, London, EC1A 7BL
Solicitors..
BDB Pitmans, One Bartholomew Close, London, EC1A 7BL
Investment Managers.. Julius Bar International Ltd. 1 Sl Martin le Grand, London EC1A 4AS
Independenl Examiner.. MHA Maclntyre Hudson, 6th Floor, 2 London Wall Place, London, EC2Y SAU
Sign
d for and on behalf of the Trust
TRUS
eorge Dufrield
Date
Trustee.. Natasha Dufrield
20746W.1

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE
GD CHARITABLE TRUST
I report lo the charily Iruslees on my examination of the accounts of the charity for the year ended 31
De￿mber 2020 which are sel out on pages 6 10 12.
Responsibilities and basis of report
As the Charity's Iruslees you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111.lhe Acl'l.
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act
and in carrying out my examination I have followed all applicable Directions given by the Charity
Cornmission under section 14515llbl of the Act.
Independenl examiner's statement
I have completed my examination. I confirm that no material mallers have come lo my attention in
connection with the examination giving me cause to believe that in any material respect..
Accounting records were not kept in respect of the charity as required by section 130 of the
A¢l', or
The accounts do not accord with those records., or
The accounts do not comply with the applicab￿ requirements concerning the form and content
of Ihe accounts sel out in the Charities IAccounts and Reports) Regulations 2008 other than
any requirement that the a¢¢ounls give a 'true and fair view, which is not a maller considered
as part of an independent examination.
I have no concerns and have come across no other matters in connection wilh the examination to which
attention should be drawn in this report ln order lo enable a proper understanding of the accounts to be
reached.
Signed..
Stuart McKay BSC FCA DChA
MHA Maclntyre Hudson,
Chartered Accoun18nls.
6TH Floor, 2 London Wall Place.
London, EC2Y SAU
Dale. 0110612021
3)747241.1

THE GD CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
Unrestricted
Fund
Expendable
Endowment
TOTAL
2020
TOTAL
2019
Notes
INCOME AND EXPENDITURE
INCOME FROM
Investment income
79,307
79,307
100.416
Total Incomlng
79.307
79,307
100,416
EXPENDITURE ON
Expendrture on raising funds
49,615
49.615
46,417
Charitable Activities
202.133
202,133
26,742
Total Expenditure
202,133
49,615
251,748
73,159
Nel gain￿(loSSeS) on investments
Net incomellExpenditurg1
136,856
87.241
136,856
135,5851
419,386
1122,8261
446,643
Exchange rale gainllLoss)
Transfer between funds
10
4,717
53,149
4.717
18,7141
153,1491
Net Movement in Funds
164,9601
34,092
130,8681
437,929
Reconciliation of Funds
Fund Balancfjs brought forward
64.960
4,596,874
4,661,834
4,223,905
TOTAL FUNDS CARRIED FORWARD AT
31 DECEMBER 2020
4,630,966
4,630,966 £
4,661.834
The notes on pages 8 10 12 form part of the linancial statements
In 2019 all income from inveslmenls was allocated lo unrestricted funds.
In 2019 all expenditure on raising funds was allocated to the Expendable Endowment fund. All expenditure on charitable
activities was allocated lo the Unrestricted fund.
In 2019 all net gains on investments were allocated lo the Expendable Endowment fund and all exchange rale gains
were allocated lo the Unrestricled fund.

THE GD CHARITABLE TRUST
BALANCE SHEET AS AT 31 DECEMBER 2020
Notes
2020
2019
Flxed Assets
Investments
4,416.525
4,286,263
Current Assets
Bank and cash
216,373
379,045
Total Current Assets
216,373
379,045
4,832,898
4,685,308
Less.. Creditors
Amounts falling du8 within one year
Accruals
1,932
3,474
1.932
3,474
Total Net Assets
4,630,966
£ 4,661,834
Funds of the Trust
Capital Funds
Expendable Endowment
4.630,966
4.596.874
Income Funds
Unreslricled Income Fund
64,%0
Total Funds
4.630,966
£ 4.661.834
The notes on pages 8 10 12 form part of the financial statements
The financlal statements were approved by the Trustees on..
Authoise
to sign on behalf of the Trustees..
Z(
Trustee G
org
Dale
Trustee.. Natasha Dufrield

THE GD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1. Accounting Policies
1.1. Gon8ral information and basis of accounting
The financial stalewnents have been prepared in accordance with Accounting and Reporting by Charities..
Stalemenl of Recommended Piactice applicable to charities Pfepanng their accounts in accordan￿ with the
Financsal Reporting Standard gpplicable in the UK and Republic of Ii@land {FRS 1021. the Financial
Reporting Standard applicable ill the Unit6d Kingdom and Republic of Ireland IFRS 1021, the Charities Act
2011 and UK Generally Accepled Practice.
The Trust has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow
statement on the ground5 that it is applying FRS 102 Section 1A.
The financial statements have been prepared to give a 'lrue and fairf view and have departed from the
Charities (Accounls 8nd Reports) Regulations 2008 only lo the extent required to provide 8 '1rue and fair
view,. This departure has involved following the AccoLJnling and Reporting by Charities". Statement of
Recommended Practice applicable to charities Preparing their accounts in accordance with the Financial
Reporting Standard applicable the UK and Republic ol Ireland IFRS 1021 issued on 18 July 2014 rather
than Ihe Accounting and Reporting by Chaiities. Statement ol Recommended Practice eNective frotn 1 April
2005 which has sinc8 been withdrawn.
The GD Charitable Trust constitutes a public ben&fil entity as defined by FRS 102. The financial statements
are prepared on a going concern basis under the historical cost convention, tnodified to include ￿rtain ilen38
al lair value. The financial statement5 are piesented in sterling which is the functional currency ol Trust
and ro(Jnded to the nearest pound.
The significant accounting policies applied in the preparation of these financial Statem￿1$ are sel out beEow.
These ptsliaes have been consistently applied to all years presented unless othetwis8 stated.
1.2 Funds
The Unrestricted Fund comprise those furKls which the trustees are free lo use in ac￿rdanCe with the
charitable objects. The Expendable Endowmenl Fund represents those assets which are held for the longer
lerrn foi the Trust. in accordance with the terms of the Trust deed. Income arising on the Expendable
Endowmenl Fund ean be used in accordance with the objects of the Trust and is included in the Unreslricl$d
Fund. As an Expendable Endowment. ￿pital can also be spent im certain circumstances in lulfilmenl of the
Trust's objects. Any capital gains or losses aiising on thè inv6Stmenls held in the Expendable Endowment
Fund form part of the fund.
1.3 Income Recognition
All incoming resources are included In the Statement of Finanoal ActNilies ISOFAI when the Trust is legally
entitled lo the income after any perfoim8n¢e conditions have been met, the arnounl can be measured
reliably and it is piobable that the income will be re￿Ived. Investment income is accounted for on a re￿1Ve￿
basis with the exception of dividends due but not yet received at the year-end. in which case wi11 be shown in
the subsequent year when received.
1.4 Expendlture RecognitNon
All expenditure 15 accounted lor on an accruals basis and has beèn classifted under headings that aggregate
all costs related lo the category. Expenditure is iecognised where there is a legal or constructive obligation to
make payments to third parties, il is probable that the settlement will be required and the amount of the
oblEgation can be measured ieliably. It is categorised under Ihe fo11owirig headings.
Ctssts ol raising funds indudes the costs in¢urred from inveslmenl manager fees during the year.,
Expenditure on charitable activities includes a11 costs Incuried on furthering the objects of Ihe Trust., and
Other expenditure represents those Items not falling into the categories above.

THE GD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1. A¢countlng Policies
Irrecoverable VAT is charged as an expense against the activily for which expendituie ar05e.
Grants are recognised when the truslees have made a decision lo make a payment and that decision h85
been communicated lo the recipient and it is probable Ihal payment will take place. However, the recognition
of any liabil￿tY will be dependent on any conditions allaching lo the commitment.
Gr8nls p8yable to third parties are within the charitable objectives. Where unconditional grants are offered,
this is accrued as soon as the recipient is notified of the grant, as this gives iise to a ie850n8ble expeGtation
that the recipient will receive the grants. Where granls are conditional relating to performance then the granl
is only accrued when any unfulli11ed conditions are outsid6 of the eonlrol of the Trust.
1.5 Support costs allocation
Support costs are those that assist the work of the Trust bul do not directly represent charitable activities and
indude general management, administration and governan￿ costs. They are incurred in support of
expenditure on the objects ol the Trust. The analysis ol these costs are included in note 3.
1.6 Investments
Investments are a form of basic financi81 instrurrent and represent UK quoted and overseas securities. They
are initially recognised at their transaction value and subsequently measijred al their lair value using the
closing quoted market price. All gains and losses are taken to the Siatemenl of Financial Activities as they
aiise. The Statement of Financial Activities includes the nel gains 8nd losses arising on revaluations and
disposals Ihroughout the year.
1.7 Creditors payable within one year
Creditors are recognised when the Tiust has a present legal or constructive obligalion resulting from a past
event and the seltlement is expected to result in an outflow ol economic benefits.
1.8 Forw9n Currencies
Transactions cairied out 8nd investments valued in foreign currencies are converted into sterling using the
figures published in the Portfolio Managers, ieports. The Sterling equivalent of any cash held in foireign
currencies on the year end dale is restated using the closing rate. An exchange late adjusttnent is included
in the accounts ieflecting this.
1.9 Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no
material uncertainlies exist. Following the COVID-19 pandemic. the Tiuslees have considered the impact
this has had on the level of funds held and the expected level ol income and expenditure for 12 months
when aulhorising these financial statements. The budgeted income and expendituie is sufficient with the
level of reserves for the Trust to be able to continue as a going concern.
1.10 Tax
The GD Charitable Trust is a registered Trust and is exempl from lax under the provision5 of the Corporation
Tax Act 2010 on its activities.
1.1 l Financial instruments
The Trust only holds basic Financial Instruments. The financial assets and financial liabilities of the Trust are
as follows.
- Cash at bank- is ¢las5if1ed as a basic financial iNstrumenl and is measured at face value.
accruals and other ciedilois are dassifi6d as financial inslruments, and ale measured at
amortised cost as detailed in Note 5.

THE GD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2. Expenditure on Raising Funds
2020
2019
JLJlius Bar investment management fees
49,615
46,417
49,615
£46,417
3. Charitable Expenditu
2020
2019
Grants paid to institutions
Bella Vista Project
Blue Marine Foundation (Environmenll
Chicesler Festival Theatre
Chestnut Tree House
Child Bereavement UK
Lorica Trust IDisablililEs and Homelessness)
NSPCC IRelief ol animal suffering)
Pelworth Youth Association
Save the Children (Disablilrties and Homelessness)
The Dog's Trust (Relief ol animal sufferingl
The Garden Museum (Environment)
The Whitley Fund IEnvironmenll
Wild Touch Wildlife Centre (Environment)
5,000
97,000
10,500
500
50,000
1.000
1,000
5,000
2,000
25,000
2.500
2.000
4,000
1.000
500
191,500
15,500
Support Costs
HSBC Private Bank (UK) Ltd remrtlance charges
HSBC Private Bank (UK) Ltd debit interest
BD8 Pilmans Administration fees
61
42
8.598
48
9,262
Governance Costs
MHA Maclntyre Hudson independent examination fees
Total Support costs
1,932
10,633
1,932
11,242
Total Charitable expenditure
202,133
£ 26,742
A lolal of 9 Granls were made in the year12019'. 6 grantsl.
Disclosure of Trustees remuneration, beneflts and expenses
The Trustees Iwho are considered lo be key management personnel of the Trusll received no personal
remuneration, benefits nor FeimbLJrsement ol expenses during the period under review in their capacity as
Truslees12019 also nill.
10

THE GD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
4. Invtrstments
Quoted investments were as follows..
(All Listed)
2020
2019
Fair value at 1 January 2020
Add". aGquisilions at cost
Less.. disposals at carrying value
Nel gain on revaluation
4,286.263
1,803,052
11,809,646>
136,856
3,866,341
941 141
1940,6051
419,386
Market value al 31 Oecember 2020
£ 4,416,525
£ 4,286,263
Historical cost 31 December 2020
£ 3,746,997
£ 3.587,754
All investments are listed on a recognised stock exchange.
S. Liabillties amounts falling due within on& yèar
2020
2019
Accruals
Independent examination fees
BDB Pitman5 LLP fees
1,932
1.896
1,578
1.932
£ 3,474
6. Analysis of Net Assets Between Funds
Fund balances al 31 December 2020 are represented by..
Income Fund Expendable
lunreslrictedl EndOw￿ent
Total Funds
2020
Total Fund5
2019
Investments
Current As5els
Creditors
4,416,525
214,441
4,416,525
216,373
11,9321
4,286,263
379,045
13,4741
1,932
11,9321
Total Nel Assets
£ 4,630.966 £ 4,630.966
£ 4,661,834
The summary of net assets between funds for 31 December 2019 was as follows..
Income Fund Expendablè
lunre51ricledl EndowThent
Total Funds
Investments
Currenl Assets
Creditors
4,286,263
310,611
4,286,263
379,04S
13,4741
68,434
13,474
Total Net Assets
64,960 £ 4,596,874 £ 4,661,834

THE GD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
7. Fund reconclllatlon
Balance
01.01.20
Incoma
Expenditur
Gainsl
Lossès)
Transfèrs
Balance
31.12.20
Unrestricted Fund
Expendable Endowrnent
64,960
4,596.874
79,307
1202,1331
149,6151
4,717
136,856
53,149
153,149
4,630,966
Total Furid5
£ 4,661,834
79,307
£ (251,7481 £ 141,573
£ 4,630,966
Balan¢8
01.01.19
Income
Expènditure
Gainsl
{Lossesl
Transfers
Balance
31.12.19
Unrestricted Fund
Expendable Endowment
100,416
126,7421
146,417}
£ 173,159> £ 410,672
8,7141
419,386
64.960
4.596,874
4.223,905
Total Funds
£ 4,223,905 £ 100,416
£ 4,661,834
The funds held on Expendable Endowment fund were gifted by the founder, George LTncoln Ouffield, and can be used
for the furtherance of the Trust's objects in accordan¢e wth the Trust Deed. The Endowment Fund Is an expendable
fund lunrestricleosl, if needed it can be used for grants payable on the Unrestricted Fund. £53,149 was transferred
from the Endowment fund to the Unrestri¢led fund12019". nill.
8. Transactions with Relatèd Parties
Granls tolalling £97.000 were made lo the Blue Marine Foundation, where Mr G Duffield is also a trustee of this Twst
12019." a grant of £50.000 lo the Blue Marine Foundalionl.
9. Staff Costs
The Trustees do not employ any slaff12019'. none).
10. Exchange rate gain5 and lossfys
An exchange rale gain of £4.717 occured on revaluing the Sterling equivalent of the portfolio's various foreign
currency a¢¢ounts on 31 December 202012019.. £8.71410s51.
12