Charlty registratlon number 1096729 (England and Wales) THE GB TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Caladine Chartered Certified Accountonts
THE GB TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Geoff Booker (Managing Trustee) Gary Booker Geraldine Booker Charlty number (England and Wales) 1096729 Prlnclpal address Flat 46, Orvis Court 5 Midway Quay Eastbourne BN23 5DF Independent •xamin•r John Caladine FCCA CTA FCIE Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex 8N21 1BF Banker8 CafBank Limited Kings Hill Vvesl Malling Kent ME19 4TA Sollcltor8 Mayo Wnne Baxter 3 Bell Lane Lev8 East Sussex BN7 1JU
THE GB TRUST CONTENTS Page Trustees, report statement of trustees, responsibilities Independent examiners report Statement of financial activities ststement of financial position Notes to the financial statements 7-12
THE GB TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Trust Deed, the Charities Act 2011 and "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)" Objectlves and actlvltles The Trusfs objectives are to hold the capital and income of the Trust fund upon trust to apply tre income and all or such part or parts of the capital for or towards such charitable purposes and objects and to make donations to such charitable institutions, societies, organisats'ons or bodies established for such charitable purposes (including but without prejudice to the generality churches) in any part or parts of the world at such time or times and in such manner as the Trustees may in their absolute discretion think fit. Publlc benefit The Trustees have paid due regard to guidance Issued by the Charity Commission in deciding what activities the trust should undertake. Achlevemonts and perforniance During the year. the Trust continued supporting grants towards the Kabubbu Development Project in Uganda. Flnanclal revlew There was a deficit in the year of £1,368 (2024.. deficit of £10,234). Funds at 31 March 2025 amounted to £16,946 {2024.' funds of £18,314). Rlsk management The Trustees have assessed the major rlsks to which the Trust Is exposed, and are satisfied that Systems are in place to mitigate exposure to the major risks. structure, governance and management The Trust was established by a charltable trust deed on 3 March 2003. The Trustees who served during the year and up to the date of signature of the financial statements were.. Geoff Booker (Managing Twstee) Gary Booker Geraldine Booker Further Trustees with suitable skills and knowledge of the charitable sector are appointed by the existing Trustees. Training would not be considered appropriate as only persons with experience of being a trustee would be appointed. The day to day management of the Trust is carried out by Mr Geoff Booker. The Trustees who oversee the charty meet as necessary from time to time.
THE GB TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The truste report was approved by the Board of Trustees. Geoff Booker (Managing Trustee) Trustee Date: ...
THE GB TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance wrth applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year vthich give a true and fair view of the stste of affairs of the trust and of the incoming resources and application of resources of the trust for that year. 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 disdosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accountlng records that disclose wlth reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable step8 for the prevents'on and detection of fraud and other irregularities.
THE GB TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GB TRUST I report to the Trustees on my examination of the financial statements of The GB Trust (the trust) for the year ended 31 March 2025. Responsibllltles and basls of report As the Trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the trust's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515)(b) of the Charities Act 2011. Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to 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 trust as requlred by section 130 of the Charities Act 2011. the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and falr vlew, which is not a matter considered as part of an independent examinats'on. I have no concerns 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 financial statements to be reached. John Caladlne FCCA CTA FCIE Caladine Limited Chanty House 22 Upperton Road Eastbourne East Sussex BN21 1BF Date..
THE GB TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlctsd funds 2025 Unrestricted funds 2024 Note8 Income from: Donations and legacies Investrnents 57,003 168 44,957 334 Totsl Income 57,171 45,291 Expendlture on: Charitable activities 58,539 55,525 Totsl •xpendlture 58,539 55,525 Net expendlture and movement In fund8 (1,368) (10,234) Reconclllatlon of funds: Fund balances at 1 April 2024 18,314 28,548 Fund balances at 31 March 2025 16,946 18,314 The statement of financial activities includes all galns and losses racognlsed In the year. All incom& and expenditure derive from continuing activitles.
THE GB TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Notes Current ass8ts Trade and other receivables Cash at bank and in hand 10 9,728 9,358 9.162 11,112 19,086 (2,140) 20,274 11,960) Currnnt Ilabllltl•s 11 Net curr•nt assets 16,946 18,314 Th• funds of the trust Unrestricted funds 12 16,946 18,314 16.948 18.314 The finanaal state were approved by the Trustees on ... ........ Geoff Bo Trust88 er (Managing Trustee)
THE GB TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charlty Informatlon The GB Trust is a charity governed by a charitable trust deed dated 3 March 2003. The principal address is Flat 46. Orvis Court, 5 Midway Quay. Eastbourne, BN23 5DF. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the trust's Trust Deed, the Charities Act 2011 and "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)" The trust is a Public Benefit Entty as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departLtre has involved following the Statement of Recommended Pracii¢e for charities applying FRS 102 rather than the version of the Statement of Recomrnended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trslee9 continue to adopt the going concern basls of accounting in preparing the financlal statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the trust is legally entitled to it after any performance condition5 have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the trust has been rtified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of Govenant is recognised at the time of the donation.
THE GB TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Continued) 1.6 Expendlture Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activty are made up of the total of dIrt Costs and shared costs, including support costs involved in undertaking each activty. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure is induded on an accruals basis and includes irrecoverable VAT. 1.6 Cash and cash equlvalents Cash and cash equivalents Include cash in hand, deposlts held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Flnanclal instruments The trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented In the finanaal statements, when there is a leg811y enforceable right to set off the recognised amounts and there is an intents'on to settle on 8 net basis or to realise the asset and settle the liability simultaneously. Baslc financlal assets Basic financial assets, which include trade and other reivable$ and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at arnortised cost using the effective interest method unless the arrangement consts"tutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable wtthin one year are not amortised. Basic financl81 Ilabillties Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of flnancial liabilities Financial liabilities are derecognised when the trust's contractual obligations expire or are disch8rged or canlled.
THE GB TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Continued) 1.8 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.9 Taxatlon The Trust has charitable status and is exempt from corporation tax on the income it has received. Crltlcal accountlng estlmates and Judgemonts In the application of the trust's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilit18S that are not readily apparent from othar sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these astimates. The estimates and underlylng assumptions ar8 revlewed on an ongoing basls. Revlsions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacles Unrestrlcted funds 2025 Unrestrlcted funds 2024 Donations and gifts 57,003 44,957 Donatlons and glfts Grants and Donations Gift Aid Receivable 48,274 8,729 40,794 4,163 57,003 44,957 Income from Investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Interest receivable 168 334
THE GB TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activltles Charltable actlvities Charitable adivities 2025 2024 Dlrect costs Grant funding of activities (see note 6) 46,168 52,250 Share of support and governance c08ts (888 note 7) Support Govemance 8,891 3,480 3,275 58,539 55,525 Analysls by fund Unr8Stricted funds 58,539 55,525 Grants payabl8 Charltable actlvltles 2026 Charitsble activities 2024 Grants to institutions.. Kabbubu Development Project Matthew Twenty Five Forty 46,168 52,000 250 46,168 52,250 Support costs allocated to actlvltles 2025 2024 Computer equipment Travel and subsistence Governance costs 3,358 5,533 3,480 3,275 12,371 3,275 Charitable activities 12,371 3,275 10-
THE GB TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to actlvltle8 (Continued) 2025 2024 Governance costs comprf88: Accountancy Consultsncy Bank charges 1,320 2.000 160 1,140 2,000 135 3,480 3,275 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than £60,000. Taxatlon The charity is exempt from taxation on its activities because all its income Is applied for charitable purposes. 10 Trade and other recelvables 2026 2024 Amounts falllng due wlthln one year: Other receivables 9,728 9,162 11 Current Ilabllltles 2025 2024 Trade payables Accruals and deferred income 1,000 1.140 1,000 960 2.140 1,960 11
THE GB TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds vthich have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprfl 2024 Incomlng resources Resources At 31 March expended 2025 General funds 18,314 57,171 (58,539) 16.946 Prevlous year: At 1 Aprll 2023 Incoming resources Resources At 31 March expended 2024 General funds 28,548 45.291 (55,525) 18,314 13 Related party transactlong Transactlons wlth related partle8 The Trustees received no remuneration and were not reimbursed any expenses in their role as Trustees. The Trustees donated £34,914 (2024: £17,645) to the Trust. Trustee Geoff Booker received £2,000 for profession81 fees (2024.. £2,000). 12-