R•gi5tered number. 04855173 Charity number= 1100784 THE GRIERSON TRUST UNAUDITEO TRiISTEES' REPORT AND FINANCIAL STATEIAEMTS FOR THE YEAR ÉNDED 31 DECEMBER 2022 ACD2BK26 1111 COK**NIES HCIJSE
THE GRIERSON TRUST CONTENTS Rèference and Admintslrati¥e Details of the Charity. its Trnstees afid Advisers Trustee$. Report Independent Examinerfs Rwirt ststemÈnt of Financial Activitles 8alanc8 Shert Notès to the Flnanclal Statoments 9-19
THE GRIERSON TRUST REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEhlBER 2022 TTUSt•s L Heggessèy B J Anthony S A 8iswas (appointed 19 June 20231 H J Chhalar (appointed 19 June 2023) S L Chinn (resigned 8 December 20221 L J Compton (appointed 19 June 2023) G Davs D A Dg sIa lapwinted 19 June 2ff231 N Oh¥nd PJFDixon D Horan MEKapl T J Motie lappointed 8 Oecernber 20221 J M V Quinn IfesLgned 8 December 20221 F Salaria K Soloman R Stapfedon D Tabefer K TownseThJ (resigned 18 May 20221 M E Watson A R Worbjys Company regbstèrèd numl 04855173 Charity registeryl numb 1100784 Register offic• S Elstree Gale. ELstree Way, B(>rehth. Herlfiydshife, WD6 1JD Comp•ny r•e¢r¢t•ry A M Blankrd Chair L Heggessey Accwntants Sopher + Co LLP. 5 Etstree Gae. Elstree Way. BehOm¥ffxIl. Hertftyd$hKe. I•106 1JD Page 1
THE GRIERSON TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The frvstees preseni their annual report together the financiaj stements for the yÈ8r to 31 December 2022. The Annual Report seNes the purposes ol twxh a Trustees. report and a d1clor, report under COrnnY law. The Trustees confirm thal the Annual Report and financkal statements of the Chartab company ¢omply with the current statutory requIrnents. the qUIrements ol the chantable companls gL)veming dc£ument and the provisions of the Slatwment of Rewnmended Pradti ISORPI applicable to chairties preparing their accounts in accofdance with the Financkal Repth"n9 &andard app1Kab in thè UK and RepublK of Ireland IFRS1021 (effective 1 January 2015} as amended by Update Bultin 1 leffedN• January 20151. sin the Charity qualifies as small unt1er sectKn 382 of ihe Ccvnpanies Act 20C6, Ihe Strategic Report required of mediurn and large companies under the Compan$ Act 20C6 {strateg Report and D1ctorS, Report) Flegulations 2013 has been omitted. Strueturn. go¥•m•n¢e •nd managThnt a. Constltutk•n Thè GIrSOn Trust is a5 a th¥iiabk compwy Ivnited by guarantetr and was up by a Memor3Trdum of Assocsati¢)n. b. Alethods of altment or •teclion ol Trnstees The management of the Chwrty is the reSn$Il crf the TnJsiee5 wh) are eknted aThJ CO<JPted under the lerms ol the Artt¢ks 0fAssc¢k. Oblectives and aeti¥iti•s . Poli¢ies •nd obs'ecti¥es The charis objects are to advano ed[t¢at and the arts for tht pubEic tefit by the promclion and entlagement of higher stsndards of ex¢elknee in the mting of thxumentsry fflms by 3rdIng out ol the income of the Charity the aardS as the Griers AardS and other annual prizes previousty awarded by The Griefson MernorTral TfUS( whh was eStlished by Tnjst Oeed dated 11 tlecember 1974. or by awarding such other prizes and carrwftg on 5u¢h other acbwits a$ the Trustees of the Charty may in their discretion detem?M)e 11 enccM¥rage 5uth str1arf$. The Tnjslees of The Grierson Trust complEd the duty in s.4 of the chaiib.es Act 2011 to have due regard lo the put4ic benefft guidancs publtshed by the Charty CommissKJn in administering the Tnjst. in determining h¥ments against Ihe axns th•y had set kn 2022 and in planning &ts'vites for 2023. A¢hie¥emefvts and perforniance a. Bacground The overall financral outtum frtyn the Charws in 2022 was a surplLLg of £29,246 compared with £30.374 for 2021. The surplus is due to the Chanty exceedirrfj Sp$rs1 and ss Igets relab"n9 lo the Awards. and slwjht underspend on DttL* Core trainiro progranm•. P•3e 2
THE GRIERSOII TRUST TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2022 Achiw•m•nts and perfomian¢é Icontinuedl b. Activities in 2022 Durirg 2022 the Clwitl5 x11"1$ induded: Soth Annivètsary In Order lo mark the 501h annr¥EWry of The GrErson Trusi. the Charty held a special industry panel event at Sheffield DocFest in June 2022 on the svbjttt of break9 into craft editing. The sessK)n discussed sorne of th& Issues the editing sector face5. and lo enswe have a resilient future workfrJr¢e equped io deal wrth th& diffrull IopK5 that documertsries often present. The Ch8rty also thed wrth ¢o1gue5 to devekp a li%t of the Must-see Dc¢urftentaries from the last 50 years The lisl was created lo stymijlate interest in the d(uMentary fomi by increasing awarene5$ of the wd¢ range of sut¥'ects and overall excelknce of genre. The Must-see Dcturnentsr$ list was cirtulaled widely across varws news publvtl0r. Aw•rds Hosted by AJ Odudu and Ros Jone$. th¢ 50th nual Bribsh Documentary Awards were hdd on 10 Novemter at the Queen Ell2ah Hall. Southbank Centre. L[dOn. The rernOnY was akn broadca51 YouTube. 18 awards psented a¢ros$ WdfKMts categw inthdiThJ Best Single tknumnelary It)ome5ts¢ and lrttrnationall, Best Documentary Series. Best Natur Hisiory w EnMronmentsl Dctumentsry, Best Scnc• DuMentary, Best Arts Drumentary, Best Mus£ Dctumenlary. Best Sport$ Lkeumentory. Best Dccumentary Short, Best Student Dccumentary. 8est Cinema (ktumentsry. BÈ5t History Drtumentsry. 825t Current Affairs Documenlary, Best Entertaining Document¥y. Best ConstnJ¢ted Dccumenlary Ser, Best Docvmentary Presenter. The Trvstee5' Award. 1¢ recorgnises someon• who has swjnfftanuy contrbuted to the documentsry sector within thetr careef. was posthumously Rrded Row Graef. The Grietstin Hero of thè Yèar Award, which is awarded to scffjeone working behind-the-scenes in the indu5ty who had gorE the extra mik in their rofe. was •vafded to Clwe Rthafds, founding member of We Are Dct Wwien. The Charty benefrtted from continijed sponsotship frc¥m the B8C, Channel 4, Discovery. NeffivA, The Open University, Sky oocumentsn.es A113Medra were once again as headliM spcffisors. New sponsors lor 2022 were Red 81 Studijs, Disnw. Pn'me and Full•rt1173. The Brrtjsh Council, Envy. Tde¥isual Mwine, Ldlle Sludv)s. Kit Room and The Talent Mana98r also continued thew in4ind Supp for 2022. Grier50n Do¢Lab In 2022 the Charity rw ts Giiefson tk£Lab trairMr¥J aThJ mÈnton"rKJ scheme for young peoplè W 18.25. as wètl a5 the retuming Nefflix-suptNyted GrEr50n DrKL In FrKus s¢hemes for ProJuctK¥n Managernenl and Edrtin9 for th¢)se aged 18 and atthe. All Schem were dthere¢J w) hid fom), with both online sessians and in-Fer reSentIal labs in 8im)irrfJham. For the core Grierson DocLab scheme. 13 Pathpants wwe recruited and for each In Focu5 scheme, there were eight trainees. For Èvery schème, doub the amount of ere invited to intervw as Ihore were pla¢es. Recrtsitment contw)ued online for all three ScheS. with onlire saving money and improving the Charty's sustanable aims. OF the 13 Ifairws lor Ihe core scheme. 8 wcthen and 5 rè men. 6 people had a disabilrty, 6 were from an ethnic minorty background and 11 lived Imtse of London. This is in line wrth our mission lo reach the kind of youryJ peoplÈ who might othewse nc4 get a chan¢e to stsrt their ¢¥eers in dc¢umenlary and lo rn¢rease the ethnic. sOCKeconoM. gernleraThJ reg81 dNerstyof neWentrts. Page 3
THE GRIERSON TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 hi•vwn•nts and perft)nn•n¢e {conlin¢bed) The GrrsOn DoeLab core s¢heme conprtsed a pÈk-long tsnlA tr"ning c¢wrsg in May. folb>wed by an in- person slental in Bimingham. Trainees re¢eNed an rndustry pass to Sheffield DFest and where they attended industry mast¥Gbsses aFKI pands. net%%tyked wrth dccumentary and factual industry iepresentatives. Each trainee was m¢hed wth a mentor. sM)e of %thcvn a Trustees. The trainees then embafked on tsyo or four-week work plxements al a UK lekn.sion production wnpany. The Chanty provde(I the trainees %ith a bursary for their pla¢ement equNalent to the nab"on81 fving On9n9 SUPPOrt lor at least 12 mortths is provKled by the Charty and the menlors provile suprAYt for a minimum of six months. Companies who providett pements the 2022 cOlrt We BBC Stu(JKts. Blast Films. Box to 8ox Fikns. Dra9onfty TV, The Gardèn. Li9htbox. MinnLXV Films. Plimsoll ProJu¢twJis. RAW. Rcgan Productions. Twenty Twenty. Wall to Wall and Wise C>wl FilmslAIt3Medk8 WKI ZirK Medk4. Funding for thè schème was secured frryn The Rank Founda11. for liCh thère ts a three.year grant agreement in pL4ce12022-2024}. The scheme is also SUPFthed in-kind by BILthrry Creth"ves. who Pfovijed one-trone career coaching sessions to each trainee. The Kit Rwm who offer cOmentary rental of cameras and sound recording equwient to trainees, and Clear Cut Pthres pThwJed training on postprfyluciion workflow5. Of Ihe 13 DLab trainees in 2022. 11 a eithw acb.vety vthing thIn the dMentary.indUStry, or pursuing further development cyportunth"es. One tratnee has rekKed abro and anothef has decKled to pursue career outside of the dctumentary sect. APpltI)nS for the 2023 GrierKm DorLab scheme opened in DeCber 2022. Griwson Do¢Lab In Focus Schemes The Charity secured rend funding from Nettt in order to continue second eJition5 of bespoke Griwson Do¢L) s¢PLemes to plug iThlusty skdfs gaps in w(¥ltn managent offline ethtin9. Of the eight trairLees for the editi"r¥J scheme. fNe were women and three were rnen. FIr were from an ethni minority bgrOund, three were dISabd aThY lour frrKn oulsth London. Of the eh1 pr(MYuctK)n management schemè trainees. all wtre femalè. Three people frtn ethnic mnority bxkgroLtn¢ts, were tjisèbled an(J six were b8sed oufsKJe L¢)ndon. This is in line ¥•iih our missM to provbJe c)rortunrts mentj.oned earlier. The editing and produdJn man•3ement schemes c4ynwsed week-long Itaining onli. fdkmed by in person residenlial labs. Each traifjee wa5 matched wth a mentor and all trainees secured pa ¢ontractS ¢)n Netll¢x dc£umenl¥ry pr(yJu¢IS. &Yne of lonees been rin¢d by the pduCt)ft crynpans and offered Ctsntra extensions. Grierson DacLab Alumni Throughout the year the Charity also C(fflbnU to stay in rKHnrnunicatv)n ¥th and supported lis rtwth of Grierson 0b Alumni. of whh there we now 155. J(l> CVF&¥lunths. netwo1n9 events and rtyular ¢heck ins continue lo be Off to the grtyjp. 8FI 00¢ &>clety Training Support The 8FI Doc Society fund supported Charity wth a grant of £18.OLIJ. The enabled The GrieTron Trust tearn to provide bespoke trainw aNJ menkn.ng 5UtvL¢( f¢r BFI Dr s( granlees. Staffing FdlowiNJ 20 years of serv, The Griew50n Trvst's Man•aing Director Jane Callaghan retired in 2022. FoMowin9 opén recruthefit for the role. s'è Bednarz was named as the Charty's n* Managing "[ectOr in Sèptember 2022. Sylvia has vrked in sla1 roks xross the thKument#ry sttlor Irluding film and TV productitrn, commiss¥)nin9 for onle and TV. and film festNas. Sykna Joined The GrEr50n TFUSt from Sheffdd DcKFest Whe she was Partnershps and Operabons Olrector, overseeirrfj opeTatKJns, production, finance and HR departments Her itwol¥ed secLtring new grants and S[5($hl fundirKJ annuaty from o¥¢r 60 UK and internatKsnal pathers. Page 4
THE GRIERSON TRUST TRUSTEES. REPORT ICOMTINUEOI FOR THE YEAR ENOED 31 DEC£hl8ER 2022 Achievements and p•rfomianu Icorrtlnuedl . Go¥Èmance Continuing the pritess (rf swLessKm Mement, in aCCordce wth the Charitys Arts"cles of A55IKialion Tanya Motse was appointed to the Board in December 2022. There was Or reSIgnatn during the year from Simon Chinn who stepped dcwn before his full lerm due to other lwrk commitments. Jwne5 Quinn concluded his third year tem in November 2022. Andre BLankf was appointed as Company Secretsry. Financial revlew . Going concern After making appropriale enquiries. the Trustees haNE a rea%%e eXpectst1 that the Charity h85 adequate rèswrces lo continue tn (Veraial e$lence for Ihe fOseeab fulurt. For this reason they conlinue to adopi the going concem basi5 in preparing the financial statements. Further details warding the 4doptlDn of Ihe going ¢cern basis can be fourKL in the Accounb"ng Pdus. b. Reserves pollcy is the policy of the Charity that unrestrthd fvrKls have not been designated for a sp8¢rfic use should b• maintained at a le¥d that WTII ensure that, in ihe eveni of a srynrfscanl drop in fvndirwj. the Charity will be ablè to continue the Charitls eurrènt actmties Whi tonsideratkyl 15 giwi ta way5 in whh wjdrtional funds may be raised. The Trustees ¢on$thr that a level of £1CQ.¢XJo is thts purye •rK1 this level of reseNes has been maintsined through(xJt year. In prarIng this report. Trustees taken a¢fvanlwJe of the small ccrfnpanie5 exempl$ provbJ&J by section 415A of the Compa)ies Act 2W6. Approved by order ofthe manbern dthe bod ofTntstee5 and snj their tr*ha by.. L Heggessèy Chair Date.. 2Tr1q113 P•Je S
THE GRIERSON TRiIST INDEPEMDENT EXAMINER'S REPORT FOR THE YEAR ENDEO 31 DECEMBER 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GRIERSON TRUST Ilhe Chartty? I report to Ihe charty Tnjstees on my exarninat of the accounts of the Charity fry the year ended 31 December 2022. RESPONSIBILITIES AND 8ASIS OF REPORT As the Trustees of Ihe Chaiity (and its direclors lor Ihe PLwKThes of company lawl ycw a responsible for the preparatton of the accounts in xoy&n¢e wrfh ts ul[ements of the Com1&$ A¢t 20¢A I'lhe 2006 Acfl. Having satisfied myself thal the acccwnls of the Charty are nL required to be aL&Jrted under Part 16 of thè 21M)6 Act and are eligibk for indepÈndÈnt examrnab"on, I reptsrt in respect ol my examination of the Charity's accounts carried out under sectKJn 145 of the Charilies Ad 2011 1.the 2011 Acf). In CarrTrg out rny examination I have folk)wed the Directions by the Charity Commi4• urKler $t 14515llbl of the 2011 Act. INDEPEN0E1 EXAAIINER'S STATEIIJErir sir ihe Chariivs gros5 irKryne £250,IJXI examimr must be a m8mb&r of a bcéy listed sectK)n 145 of the 2011 A¢t. l confirm that l am qUalld to urYertake the eXaMinatn because l am a member of ICAEW, which is one of the listed t<#Jies. I have completed my examination. I confim that no matters come lo my attentKJn in ¢onneetion wth th• examination giving me cause to believe.. a¢¢ounling rewds noi kem Ni Spect clthe Charty as QuIr9d by S8¢t 386 of the 2CIJ6 Act., or the ac¢ounts do not acGord those rec¢yds'. ( the accounts do not comply wrth the accounting requir&nents d section 396 of the 2LYJ6 A¢t other than any requ1ment that th8 xcounts gi¥E a 'tnJe and fairf view ts not a matter ConSlered as part of an independent exaMInatn.. or the Unts have nol been PWEpared in acusdarce wilh Ihe meththjs and principles of the Slatemenl of Recommended practi for cOUnting and reporting by charties lapplKable to ¢h8fitw preparing their acco¢Jnts in accordance wilh the FirwKd Re19 applKle in the UK and Republ of Iland IFRS 10211. I havè no cOnmS arKI ha¥8 cc¥ne across no olher malters in conti Vilh the examinaliort to whth attènti¢)n should be drawm in IhL8 reptyt ¢Jrderto enable a proper understanding of the accounts to be reached. Str3ned." H Yovrg 4JV Dated: 27109r2023 SOPHER + CO LLP Chartered Accountants 5 E15te Gate E1ste Way Boreharnwood Hertfordshire W06 1JO Page 6
THE GRIERSON TRUST STATEMENT OF FINANCIAL ACTv4mES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2022 Totsl tunds 2022 Tol81 fvnds 2021 funds 2022 INCOME FROM.. Voluntary InGome A¢tivrties for 9enefatirvJ furxts Investment Income 68,000 368,078 16.000 357.942 1,256 368.078 TOTAL INCOME 437.064 437.064 375.198 EXPENDITURE ON: Raising funds Charitsble a¢tivths". Mentoring costs Governance costs 343.657 343.6S7 286.378 41,$86 22,575 41,586 22,576 42.840 15.606 TOTAL EXPENDITURE 407,818 407,818 344,824 NET MOVEIAENT IN FUNDS 29.246 29,246 30,374 RECONCILIATION OF FUNDS: Total funds brought forwar Net movement in fvnds 348.294 317,920 30.374 29.246 TOTAL FUNDS CARRIED FORWARD 377.540 348,294 The Statement of Finanaal ActN*ies indth gairts aNI kisses I?nIsed in ihe . The notes on page5 9 to 19 fomi wt of ilv financial statemenls. P•Je 7
THE GRIERSOhl TRUST REGISTERED NVM8ER: 04855173 BALANCE SHEET AS AT 31 DECEM8ER 2022 2022 2021 FIXED ASSETS Intangible assets Tangible assets CURRENT ASSETS 7.140 4.302 10 1,968 Debtors Cash at bank and in hKI 37.393 348,117 353.776 CURRENT LIA8ILinES 394,643 385,510 Cr&Jitors.' amounts falThThJ due within one ye 12 128.S451 139,1841 NET CURRENT ASSETS 346.326 TOTAL NET ASSETS 377.540 348,294 CHARITY FUNDS Restrthd funds UnrestrKted fuTrJ5 13 13 3TI.540 348.294 TOTAL FUNOS 37T.540 348.294 The Charity ¥rdS entilknj to ex8mpkn from audit under sectw)n 477 of the C(Nnpanies Act 2rx6. The members have not requffed the MpanY to obtsin an alhlit for the year in question in acrLJrdance with section 476 of Companw A# 20¢%. The TnJstees ackned9¢ th•r respOnsi"11t[&S for ¢¢ffith'ng the requir&nerts of the Act wrth re5FeCt to counting records and preParatn of fiwci#l stements The finanual $tments lyave been wepared in ¢r{lan th¢ provision$ ¥ppluble to entit Sublt to the small cfnpan wrne. T1 financial ststement5 4)wo¥ed and aUtristd for issue by the TSlee$ and sned on their beh81f by.. L Heggessey Chair Date. 2Tr The notes on pa9es 9 to 19 foFm w ofthese firw)cial sl**nents. 1412} Page 8
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENO£D 31 DECEM8ER 2022 ACCOUlmNG POLICIES 1.1 Basis of preparation of financial stst•m•nts The financial stalemÈnts have been prepared in 0rdar wth Chants SORP IFRS 1021- A¢¢ounb'ng and Reporting by Charities: Sent of Recornmended PraGtice applicable to charities preparir9 their accounts in with the Financial Rep¢xting Stsndard applble the UK and Republic of IrrNY (FRS 1021 (effedive 1 Jartuory 20151. the Financial Reporting Standard applicable tn the UK arwj Rwjub1 of IrdKI IFRS 102) and the ¢1p$ 2006. Thè Grier50n Trusl meets tt dÈfifirt of a wblic benefrt enlty under FRS 102. Assèts and 1obilrtie$ a inialty (Jne * h4StorKal c05t or tran58CtKJn value urtless otherwise stated in the felevant attovntirwJ poltcy. 1.2 In¢ome All ¢xccme is iects3nised ¢)nce the Chrty has enithment to t incomè, it is probable that thè income vlil be re¢eNed and the amcwnt of irmne l¥ablE caft be measured rtlkqbly. Donated or lac111 are recognksed when the Charity ha$ ¢ontrd ¢)ver the item. any conditicms assctiated with the donated item have been me( the recwpt of econcynic benefrt from tho use of thè Charty of the rtem rs prcabk and that l)enefit can be measured relK4bly. On recept, donated profess)nal seTh aThJ Ojiated f%1h1 are recognvd cffi Ihe basis of the value of the grfi to the Charity YAthich is the amount the Charty woukl have been wilkng to pay to obtain servirs or facilit of equfyent Onom benefft on the open matket", a corresponding arnount 15 then recc¥Jnssed in e¥penthiure in the of receipt. Incr)me tax recoverable in relat to dclOn$ refvEd under Gth AKI deeds of covenant is recognised at the time of the (tion. Income tax rec0vWab in relatKm to In%estMt incune 1$ th& time the inv8$bnenl income 15 receNabk. 1.3 EX11¢ Expenthturè is reccgnwl once there a legal tx conslwclive oblWTh to transfer economr benefit to a third party. it is prcA)abk that a transfer of econcrn benefrts will be required in settlemenl and the amount of the oblalKIn can be measured reliabty. Expent1iture is classrfd by actiwty. Tho.costs of each actiw are made up of the total of direct costs and shared ¢osts, including SLIPFK)rt ctssts involved in undertaking exh aclty. Dirttt costs altn'butsbSe to a single actiwty are aled directly lo that actiwty. Shar•Y costs whth ccrfrtritrth to mcrfe than one and support costs whi¢h are not attrtjutable to a single athity are apportwj tse8n those on a basis ¢onsTstent with use of SOUrces. Central staff 1$ are albxated m the basis of ts.me $penL and depre¢iatÈon charges alctated on the of the a55et's Use. Support costs e those costs ll)¢urrwJ dire• in suppJt of exFendrture on the objects of th8 Cttarity. Govemance costs a tlthe Incur in connecti)n administration of the Charty and ccmplHnce wtth ¢onstituttonal and stalim requirements. Costs ol generatWl9 lunds are cosls incJJrr&J in atlrath"rwJ volurw income. aThJ those ¢rIed in Iradiro aclivth.es that raise f$. Page 9
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POUCIES ICONTINUEDI 1.3 Expendoiure {continuedl Charitable activit and Governa ¢c6ts are ¢osts wurred on the ChariV$ aaucational operations. including 5UPWt cosls and costs retating lo Ihe goverrwce of the Charrty apportioned to ¢harilab actNS. 1.4 Inter•sl rwmivab Inlerest on funds hekl. on d8POSit ts iTrxluded Vthen recth3b and the amount can be measured reliably by the Chaty, thK% is ftomwy upw notffj of intw¢st paid or Payab by the 8ank. 1.$ Intangible assets and amortisalion Intangibk assels costing £1.ocKI or Mts ao ¢aprtalised 8nd wnised when future e¢0M bènefits arè prOe and the (x)st or value of the asset ¢an te measured lb. Intallgkn assets are Initlty recognised al c05t After wnition, under the cost model. intsngible assets are measwed at cost less any uMULd amortL8atton ar any a¢¢umuled impaimienl kjsses. Amortisaiion 1$ provKted on Intangle assets at rates culated to write off ¢o$t of èach a55et on a st4ght-11 basis 0r its expected useftjl lrfe. Amorb"5ati is provTrknl on the fotkhvirs basis.. Website 25 % stsghl-li 1.6 Tanglble fixed assets and depreclatlon Tangible fixed assets costs"rwJ £2SJ ar MO are caprtalised and recc4Jnised when futu economic benefits are prc+thle and the ccst Of Oftt asset can be Measu reliabty. Tangib fixed assets are initwtty wnised at cost. Aftef re¢¢gnition, unfler the cost model, tangible rixéd assets arè measured at Cosl 5$ accumuLatèd deprecptk)n and any accumulated impaiment losses. All costs incurred lo a lgl)le frxeAI assel irrto ts intw)ded Wofking con¢ilion should be included in the measurnent of cosL tkpwiatK)n is tharged so as to aifo& ts c05t of lang fixed assets less their residual value over their estimated useful lives. . DepreCiatn ts provijed on f¢%ltr4ry b¥k8.' 25% Reducing balance 1.7 Debto Tra<Je and other debtors are reccgnised at the settknent aM(t after any tr8de discount Offed. Prepayments a valued al amourt pp?j net of any trale discounts due. t.8 Cash al bank and in hand Cash at bank and in hand cash and short4enTr highfyf Iquid investments with a SIrt matunty Of1e months ¢v kn frTh ts date ofatrwL%Aion or ¢ynirrfJ of depo$it or ssmikr account. Page 10
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNnNG POLICIES ICONTINUEDI 1.9 Liabilities and provisions Liabilrties are re¢ognised vknen there is an obligats.on at tho Balance Sheet date as a resutt ol a past event. it 1$ &Yobab that a transfer of econtyX benefrt wll be required in settlement. and the amounl of the settknient (n be esb"m3ted reliabty. Li)i1th5 are rerniSed at the amount that the Charty 8nlKipatÈs rt will pay to settle thè dèbt or thé amount it has recwved as •J¥tea payment5 for the or sewvtts rt must provmle. Provisions are measured at the best estinate of the amounts required to Sett the obllgalion. Where the elleci of the bme value of rnOn is materK41. the provision is based on the present value ol those amounts, discounted at the taX disctyjnt rate that refiect5 the rkS specffic to the liability. The unwinding of the discount ss 0nised in the Statement of FinarKralActivities as a finance wst 1.10 Flnanclal Instrum•nts The Charity ¢)nly has financtal assets and financial liif4t(es of a kind that qualfy as bas financial instruments. Basic fmancial instruments are inrtialty r0915ed al transaclwjn valuè and Subsequently Measur at t11 settlemènt value wrth the exeeptll of bank b)ans whth are $ubseqLnt measu at amortise(I c05t using the effective inlerest method. 1.11 Pensions The Charty OKErate5 a defined contnbub.on pension scheme and the penSn charge PresentS the amounts payable by the Crty lo the fund in respecl of the year. 1.12 Fund accountlng General funds are unreStitt fulS Twhth are avaiLabl• for use at th• discr•tKJn of the Tru$t•8S in furtheran of the gerra1 ObJtIveS of thè Chanty anrl Yrfhh have been designated for other purpose$. 1.13 Company status The Charity is a ccffnpany INnited by guarantee. The mnbel5 of the company inclu¢Jed the Trustees named on page 1. In the event of Ihe Charity b&ng wound up. the lilIty in respect of th¢ guarantee is limited to £10 per mernber of the Charity. Pa9e11
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2022 INCOME FROM CIONATIONS AMD LEGACIES Unrnstrbcted funds 2022 Total funds 2022 Grants and donakn5 68,000 68,0 Unrestricted lunds 2021 Total funds 2021 Grants and d¢Y10DS 16.000 16.OTrJ INCOME FROhl OTHER TRADING ACTMTIES In¢orne lrnm non charitable trading acti¥iQies Unr•stricted funds 2022 Total lunds 2022 Charity traliThJ inc4)me from ebtrts aThJ spons<Ksh¥i 368.078 368.078 Unreslrn*ed funds 2021 Tot fund5 2021 Ch8rity trajing incorne from events a1 sponsors 357.942 357.942 P&Je 12
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEM8ER 2022 INVESTMENT INCOME Unwtrlcted funds 2022 Total funds 2022 Bank interest 986 furxls 2021 fund$ 2021 Bank Interest 1.256 1,256 EXPENDITURE ON RAISING FUNDS Costs of rnising voluntsry incom Unrestri¢tsd fund 2022 Total fund5 2022 Awards CereMY costs Fundraisiro and publicity Wages and sala1S Soci?1 seGurty costs ¢tribUt to er1j schemes 225,382 34,919 59,928 5,408 18.020 225,382 34.919 59,928 18.020 343.657 343.657 Page13
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2022 EXPENDITURE ON RAISING FUNDS (C014TINUEDI Costs of r•i$ing yonry income {CONTINUEOI unre5th.cted funds 2021 Total fund5 2021 Awards ¢eremony costs Award judgÈs lees Fundraising and publKty Wages and salaries So¢ial secunty costs CrMtrlbutn to defined Contritrtion pensM)n schemes 1*,292 150 196,292 150 18.733 44.152 3,533 23.518 18.733 44.152 3.533 23,518 2e6.378 286,378 AMALYSIS OF EXPENDITURE ON CHARITABLE ACTMTIES Summary by fufid tyPÈ Ufflr¢strtct•d fibnd$ 2022 Total 2022 entorin9 ¢0Sts Gov¢man¢e ¢osts 41.586 22,575 41.588 22.575 64,161 64.161 Page 14
THE GRIERSON TRUST NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ANAL YSIS OF EXPENDrruRE ON CHARITABLE ACTMTIES ICONnNUEDI Summary by fund (continu) Unrestrr¢led funds 2021 Total 2021 Mentoring Costs Governance costs 42.840 15.606 15.6C6 58.446 58,446 Summary by 0xndirg type Staff costs Other costs 2022 2022 Totsl 20Z2 Mentoring ¢05ts Govemanee ¢o$ts 119.881 178.2951 22.575 41.586 22,575 119,881 {SS.7201 64.161 Staff costs Other cost5 2021 2021 Total 2021 MentM"ng costs Governance ¢o$ts e6.419 (43,579) 15,60S 42.840 1S,606 86,419 P7.973) 58,446 Pège 15
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 STAFF COSTS 2022 2021 Wage5 and sala ial security costs tributK)n lo deftrned ¢on1ribUD( penSn schemes 165.339 12.64S 2S.253 123.109 9.044 25,468 203,237 157.621 The average number of pernons ernF4oyed by Ch duri the year was as Itr).. 2022 No. 2021 No. Empby No employee recebbd remuneralw amwntin9 to more than £60,0(M) in elher year. TRUSTEES. REMUNERATION AND EXPENSES DurirvJ the year. no Twstees recwbed remuneTaw)n or other benefits12021 . £NIL). Durirvj the year ended 31 December 2022. rt) Twstee expenses been incurr12021 - £NILI. P•Je 16
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2022 INTANGIBLE ASSETS Website Addrtion5 9,620 At 31 Dember 2022 g.S20 Amortlsallon Charge forlhe year 2,380 At 31 De¢ber 2022 2.380 Net book value At 31 December 2022 7.140 At 311)eC1)er 2021 Page 17
THE GRIERSON TrUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10. TANGIBLE FIXED ASSETS Office equipment Cost or valuation At 1 January 2022 Addrtions 3,498 3.768 At 31 December 2022 7.286 Depreciatio At l January 2022 Charge for th? year At 31 Dember 2022 2.964 Net book value At 31 December 2022 4.302 At 31 08cembor 2021 1,968 11. DEBTORS 2022 2021 Tf•Je debt5 Other debtor5 prepaYmt$ a¢¢ruets inccrfne 9.433 17.251 14.183 8,550 20.018 8.825 *10.867 37,393 Page 18
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 12. CREDITORS: AMOUNTS FALLING WE WITHIN ONE YEAR 2022 2021 Trade creditors Accru*s and ¢JeferrwJ inccrfne 26,49S 2.050 30,283 8,901 28.545 39.184 13. STATEIIENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 December 2022 Balance at 1 JarbU•ry 2022 Income Eyendiiure Unrestrlcted fvnds General Funds- all furKIs 348.294 437.064 1407,818 377,540 STATEMENT OF FUNDS. PRICkR YEAR 8alance at 31 December 2021 1 January 2021 Income Expendrture Unr?leted funds Genertl Funds - all fvnds 317,920 375,198 1344.824) 348,294 P4e 19