Registered numbor: 04855173 Charlty number. 1100784 THE GRIERSON TRUST UuDITEo TRUSTEES. REPORT AND F114ANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 ADC)FH43 2710912024 COMPANIES HOUSE AS2
THE ORIERSON TRUST CONTENTS Page Ref¢tence and Admlnistrative Details of the CharSty, its Tru8teeg and Advlsers Trustees. Report Ind•yndent Examlner's Report 8tl¢om•nt of Flnanclal Actlvltlas Ballnce Sh•ot Note8 to th• Flnanclal Statement8 9-19
THE GRIERSON TRUST REFERENCE ANO ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND AOVISÉRS FOR THE YEAR ENOED 31 DECEMBER 2023 Trugtoes L Heggessey 8 J Anthony S A Biswas (appointed 19 June 2023) H J Chhokar {appointed 19 June 2023) L J Compton (appointed 19 June 2023) G Davtes D A De Sifva (appointed 19 June 2023) N Dhand PJFDixon D Horan M E Kaplan T J Moli8 F &18rt8 {resned 20 Seplember 2023) K Soloman R Stapledon D Tgberer M E Watson A R Worboy8 Company r•glstered number 04855173 Charlty reglstored number 1100784 Re918tered offic• 5 Elstree Gate, Elstree Way, Borehamwood, Hertford8hire, W06 1JD Company secretary A M Blankfiekl Ch4ir L Hgggessey Accountants Sopher + Co LLP, 5 Elstree Gate. Elstrae Way, Borehamwood. Hortfordshlre, WD6 1JD Page 1
THE GRIERSON TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Tru8te8s present thelr annual report together with the financial Statements for the year to 31 December 2023. The Annual Report serves the purposes of both a Trustees, report and a directors. report urKlei company law. The Trustees confirm that the Annual Report and financial stalements of the charf(able company comply wlth the currenl 8tatutory requirements, the requiremgnts of the charitable company'8 governing document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accpunls in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) leffeclive 1 January 2015) as amended by Update 8ullelin 1 (offective January 2015). Sinp thè Chanty quallfies as small under section 382 of the Companies Act 2006. the Strategic Report requlred of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Requlalion$ 2013 has been omrtted. Structur•. govomanc• and m•nag•monl a. Con8tltutlon The Grierson Trust is registered as a charitable company Ilmited by guarantee and was sel up by 8 Memorandum of Ass¢xiation. b. Mèthods of appointment OT eleGtlon of Trustaes The management of the Charity 19 the responslblllty of the Trustees who are elected and COwOPted under the terms of the Articles of Association. Oblectlve6 and actfvltl a. Pollcl•8 and obJ•ctlves The Charity's objects are to advance education and promote the arts for the public benefrt by the promotion and encouragement of hi9her standards of excellence In the maklng of documentary films by awarding ou( of the Incomè of the Charlly the awards known as the Gri8r$on Awards and other annual prlzes prevlously awarded by The Grierson Mernorial Trust, which was established by Trust Deed dated 11 December 1974. or by awarding such other prizes and carrying on such other activities as thè Trustees of tho Charity may in their di&cr8tion detqrmine will promote and encourage such 8tand8rds. The Trustees of The Grierson Trust have complied wsth the duty in s.4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in adminislering the Trust, in determining achievements against the aims they had set for 2023 and in planning activites for 2024. Achl•v•m•nts and p•rforni•nc• a. Background The overall financial outtum from the Charty's activities in 2023 a deficit of £18.756 compared with a surplus of £29,246 for 2022. The deficit 15 due to the Charity not meeting sponsorship and sales largets relating to the Awards. This is refiection of the reduced budget for sponsorship and spend across the film and TV sector, which is the primary source of income for the Chaiity. The Charlty has a total of £358,784 reserves in place. Page 2
THE GRIERSON TRUST TRUSTEES, REPORT (CONTINUEO) FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevements and performance Icontlnued) b. Actlvities in 2023 Durlng 2023 the Charity's activitles included.. Award8 H08ted by Nish Kumar, th• 51 gt annual Brltlsh Documentary Award8 w8r8 held on 9 Novamber at tha Queen Elizpbeth Hall, Southbank Centre, London. The ceremony was also broadcast via YouTube. 18 awards were pSented across various Categories including Best Single DoGumentary (Domestic and International), Best Documentary Series, Best Natural History or Environmenlal Documentary, Best Science Documenlary, Best Arts Documentary. 8est Music Oocumenlary. Besl Sports Documentary, Best Documentary Short, Best Student Oocumentary, Best Cinema Documentary. Best History Documentary, Best Current Affairs Documentary, Best Entortaining t)ocumenlary, Bast Constnjcléd Documentary Series. 8e8t Documentary Pre88nler. The Trustee8' Awar(I, which r•cogni8es someone who has signifan11Y contrlbuled to the documenlary sector wrthin their ¢are8r, was awBrded to documentary maker Ann8 Hall. The Grierson Hero of the Year Award, which Is awarded to individua18 working behind-lhe-scenes in the indusiry who had gone th• extra mile in their role, wa$ awarded to 8ryony Arnold. Caroline O'Neill and Charlie Pheby, founding members of Deaf & Disabled in TV. The Charity benefitted from continued sponsor8hip from the 88C, Channel 4, Netllix. The Open Unlversity, Sky Ooqumentarlos, Red Bull Studios, Di5ney+, Prime Video and Fullwe1173 H80 Documentaries took over naming rights of th8 Best Single Oocumentary (International) funded by Oiscovery. A113Media were once again named as headline spon8or•. Satu8fgCtion became Sponsors in 2023, coming on board os on aggoclate $pon80r. The Brillsh Council. Envy, Televlsual Magazine and Llttle Oot Studi08, al$0 continued their in-kind support for 2023. Broadcasl Sport joined as new in-kind sponsors in 2023, providing a Substantlal induslry advertising pachage in return for Aword$ category spon$or8hip, Gri¢rnon DocLab In 2023 the Charity once again ran the Grierson OocLab trainlng and mentofing scheme for young people 89ed 18-25, as well a8 the returning Netllix-supported Grierson DocLab In Focus scheme8 for Production Management and Edrtin9 for those aged 18 and above. All three schemes were delivered in hybrid form, with both online sessions and in-person residential labs in Buxton and London. For the CO Grierson DocLab Scheme, 12 participants were recruiled and for each In Focus scheme, there were eight Irainees. For every scheme, double the amount of people were invlted to InteNiew as there Yre places. Recwuitment continued online for all three schemes. with onlin8 interviews saving money and improving the ChqriW8 Sustainable recruitment aims. 01 the 12 trainees for the core 8cheme, 10 were Wrnen and 2 were men. 6 people descrlbed themselves as having a disabilrty, impairment, leaming difference or long-terrn condition, 7 were from an ethnic minority background and 10 lived outside of London. This is in line with our mission to reach the kind of young people who might otheThvise not gel a chance to start their careers in documentary production and io increase the ethnic. socitreconornic, gender and regional diversity of new entrants. The Grierson D(KLab core scheme comprised o week-long online training course in May, folbwed by an in- person residential lab in Ihe Peak District in Buxton. Trainees receiv8d an industry pass to Sheffield DocFe5t and where they attended industry masterGlasses and panels. and networked wilh documentary and factual industry representatives. Each trainee was matched wtth a mentor, some of whom are Trustees. The trainees then embarked on or four-week worf< placements at a UK television production company. The Charity provided the trainees with a bursary for their placement equtvalént to the national living wage. Ongoing support for at least 12 months is provided by the Charity and the mentors provide support for a minimum of six months. Page 3
TTrIE GRIERSON TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achl•vomonts and perfomi•nce (contlnued) Companies who provided pl8cernentg for the 2023 cohort were BBC Sludios, 8188t Films, Box lo Box Films, Oragonlly ni, The Garden, Hidden Light, Firecrest, Tnje North. Lightbox. Minnow Films. RAW, Rogan Productions, Twenty Twenty, Wall to Wall and Wise Owl FilmslA113Media, Wonderhood and Zine Media. Funding for the scheme was $Kured from The Rank Foundation, for vthtch there is a three-year grant agreement in place {2022-2024). The scheme 18 also supported in-kind by Bluebefry CreatNes, who provided one-toaone cafeor coaching $esFions to each trainee, and Clear Cul Pictures who provided training on postproduclion workflow5. Griernon DocLab In Focus Schemes The Charity sUred renewed lunding from Netflix in ordor to contlnue third editions of Iwo bespoke Grierson l)o¢Lab 8¢heme¥ lo plug industry 8kill$ gaps in Pfoductk)n managem•nt and ornlne edltlng. Of tha eight trainaes for tho editing xheme. 4 were women 8nd 3 weie men. 1 wa¥ from a ¢ulluralty diverst background, 2 constdered thamself to have a di8abilty and 3 from outside London. Of the eight production management Scheme trainees. 4 were female, 3 were male and 1 non-binary. 3 wore from culturally diverse backgrounds, 3 considered th8mseff to have a dlsabilty and 3 were based outside London, This 18 in line with our mis8ion lo provide opportunities m•ntioned •arlier. The editing and production management schemes comprised week-long trainin9 online, followed by in person resipential labs which took place at Netnix offices in London. Each trainee was rnatched wilh a mentor and all trainees secured pa'id Gontracts on Neffiix documentary productK*ns. Grierson DocLab Alumni Throughout the year the Charity also continued lo stay in communication wfth and supported its network of Grierson DocLab Alumni, of which there ara now 201. Job opportunities, nelworf(ing events and regular check ins continue lo be offw•d to the group. Stafflng Sylvia 8ednarL dellvered her second year as the Managlng Director of The Grierson Trust, where har responsibilities included slrategic development and Implementation. leading on operations, HR. finance, and partnerships. Yen Yau, Director of Training Programmgs for The Grierson Trust, continued to lead on the developing and delivering the Charivs training initiatives, with the focus lo support new voices for the documentary genre, providing opportunitS for under-represented groups in Ihe seclor, Yen was 8UPPOrted by Training Programmes Coordinator. Tanya Charteris-Bla¢k, who was recruited on 1 February 2023 on a 1-year fixed tenn part lime contract. Hannah Brown continued to manage the Charty's marf<eting. digital, communications and systems implememation across the annual Bntish Documentary Awards and various Gnerson Dc¢Lab Iraining Schemes. Hannah was supported by Admin and Awards Assistanl, Finlay van der Vo$8en. who was cluited on 4 April 2023 on a 1-year fixed term part lime contrad. Page 4
THE GRIERSON TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achl•v•mènts and p•rfornianc• Icontlnu•d) . Governanc• Continuing the process of Succession management, in accordance wrth the Charivs Articles of As8OCi8tion. the Ch4rity ran an open recruitment welcoming 8ppli¢alions to join the Board of Tru3lee8. Amali de Silva, Harjeet Chhokar, Louisa Compton and Sreya Biswas were appointed to the Board on 19 June 2023. Fatima Salaria resigned on 20 September 2023 and Liz Brion was appointed as Company TasUrer. Flnanclal revlew . Golng conrn Aft8r making appropriate enquiries, the Trustees hava a reasonable expectalion th8t th• Charity has ad8quate resgurces to continue in operational existence for tho foreseeable futur•. For this reason they continue to adopt the going concem basis In preparing the financial statemen15. Further details regarding the adoption of the going con¢eTn basis can be found in the Accounting Policies. b. Resorves pollcy It Is the policy ol the Charty that unrestricted lunds which have not been designat¢d for a specific uJ• should ba maintained at a level that will ensure that, in the event of a signrficant drop in funding, the Chartty will be able to continue the Charity's current activities while Consideration is given to ways in which additional funds may be raised. The Tru8lee8 con8ider that 8 level of £100,000 18 required for this purpofyg and thi01gvel of roserves ha8 been maintalned thraughout ttie year. In preparing this report. the Trustees have taken advantage of the small eompani•8 exemption• provided by section 415A of the Companies Act 2006. rder of the members ol the board of Trustees and signed on their behalf by: H•gge Chgir Datp.. 7(t[41¥ Page 5
THE GRIERSON TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GRIERSON TRUST Ilhe Charlty.) I report to the charfty Truste8s on my examination of the accounts of the Charity for the year erKled 31 December 2023. RESPONSIBILITIES AND BASIS OF REPORT As the Tru$tees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in a¢COfdan¢e with the requirements of the C¢mpanies Act 2008 (Yhe 2¢X16 Acv). Having 88tisfi•d myself that the accounts of the Charity are not requlred to be audit under Part 18 of the 2006 Act and are eligible for independent examination, I rept)rt in respect of my examlnation of the Charty's accounts carried out under section 145 of the Charities Act 2011 (Ihe 2011 ACV). In carrying out my examinalion I have followed the Directions given by the Charity Commission under section 145(5)(bl of Ihe 2011 Acl. INDEPENDENT EXAMINER'S STATEMENT Since the Charitys gros8 income exceeded £250.000 your examiner mu8t be a member of a body 118led in 88clion 145 of the 2011 Act. I confim thal l am quallfled to undertake the examlnation because l am a member of ICAEW, which 18 one ol the listed bodies. I h4ve completed my examination. I confim that no m8tteryJ have come to my attention in connects'on with the exaTnination giving me Cause to believe.. accounting records were not kept in respect ofthe Charity a$ required by section 386 of the 2006 Act: or the accounts do not accord wrth those records: or the accounts do not mplY with the accounting requirements ol 8ecllon 396 of the 2006 Act other than any requirement that the'accounls give a 'tTue and fairf view which is not a matter ¢onsMlered as part of an independent examinalion.. or the accounts have not been prepared in accordance with ihe methods and prlnciples of the Statement ol Recommanded Practic8 for accounting and reporting by charrties lapplicable to charilies preparing Iheir axounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021]. I h4ve no concerns and have Gwne aGross no ¢ther rnatters in connection with the examination to whtch attention Should be drawn in this report In order to enable a proper understanding ol thè accounts to be reached. Signed. U J V Dated: Zslo? Izoil ICAEW H Young SOPHER + CO LLP Chartered Accountants 5 Elslree Gate Elstree Way Borehamwood Hortfordshire WD6 1JD Pag6 6
THE GRIERSON TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted fundg 2023 Tolal funds 2023 Total funds 2022 Note INCOME FROM." Voluntary Income Activities for generallng fund$ Investrnent Income 39,000 504.336 1.397 39,000 504,336 1,397 68,000 388,078 986 TOTAL INCOME EXPENDITURE ON: Raislng funds Chqritable activities.. Mpntoring costs Governance costs $44,733 544.733 437,064 323,007 323,007 343,657 217,678 22,804 217.678 22.804 41,586 22,575 TOTAL EXPENDITURE 863,489 563.489 407.818 NET MOVEMENT IN FUNDS 118,756 118.7561 29,246 RECONCILIATION OF FUNDS: Totgl funds brought fonward Net movemenl in funds 377,540 118,756) 377.540 118.756) 348,294 29.246 TOTAL FUNDS CARRIED FORWARD 358,784 358.784 377,540 The Slatement of Financial Activities includes all gains and losses rocognised in the year: The notes on pages 9 to 19 fom part of these financial staternents. Page 7
THE GRIERSON TRUST REGISTERED NUMBeR: 04855173 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note FIXFD ASSETS Intsngiblo assets Tangible assets CURRENT ASSETS 4,760 3.228 7,140 4,302 10 Debtors Cash at bank and in hand 11 101.902 291.642 40.867 3S3.776 CURRENT LIABILITIES 393.444 394,643 Creditors.. amounts falling due wilhln one year 12 142,846) (28,545) NET CURRENT ASSETS 350.798 366,098 TOTAL NET ASSETS 358.784 377,540 CHARITY FUNDS Reslricled funds Unrestricted fundj 13 13 368,784 377.540 TOTAL FUNDS 358,784 377.540 The Charity was entitled to exemption from audit under section 477 of the Compantes Art 20Ch3. The member8 have not requlred tho company to obtain an audit for the year in question in accordance with section 476 ot Companies Ad 2006. Th• Tru$tee$ acknledge their r•&pon8ibllities for complying wrth the requirements of the Act wtth resp8cl to accpunting records and preparation of financial statements. The flnancial ststements have been prepared in accordance Wlth the provisions applicable to entities Subject to the small companies regime. The financial statements were approved and authorised for issue ty the Trustees arKI signed on their behalf by: Hpggessey Chair. Datp.. J/412 The notes on pages to 19 form part of these financial statements. Page 8
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 310ECEMBER 2023 ACCOUNTING POLICIES 1.1 Basls of preparatlon of Ilnanclal statements The financial 8t8tements have been prepared in accordance with the Charilles SORP (FRS 102) Accounting and Reporting by Charitiès.. Statement of Recommended Practice applicable to chariti88 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {8ffeclive 1 January 2015), the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. The Grierson Trust meet8 th8 d8finition of a public benefit entity under FRS 102. Assets and liabilities are initially fecognised at historical cost or transaction valua unless otherwise stated in the relevant accountina DC'.'_ 1.2 Incoffl• All income is r8coonised once the Charrtv has entitlement to the income. it is Drobable Ihat the Inc¢)me will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the Charity has control over the item, any conditions 8SBociated wrth the donated item have been met, the receipt of economic benefit from the use of the Charlty of the Item 18 probable and that ecmomlc benefli can be measured rellably. On rrteipt, donated professional services and donated lacilities are recognised on the basis of the value of the gift to the Charity which 1$ tho amount th• Charfty would hava been willing to pay lo obtsin sep4rces or lacilities of equivalant economic benefrt on the open Market; a correspondlng amount is then recognlsed in expenditure in the peri¢)d of receipt. Income lax recoverable in relation to donations recelved under Gift Aid or deed8 of covenant is recognised at the time of the donation. Income lax recov8rable in relatlon to investment ineome rnc0gnil at the tlmo the InveBtment income is receivable. 1.3 Exponditure Expenditure 1$ rgcognised once there is a legal or constructive obligation to transfer economic benefit to a Ihird party, it is probable that a Iran5fer of econM)ic benefits will be required in settlement and the amount of the obllgation can be measured reliabty. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, includin9 SUPPOrt costs involved in undertaking each activity. Dlrect costs attributable to a single activity are allocaled directly to that actNity. Shared costs which contribute to more than one activity and support costs which 8r8 not attributable to a single activty are apportioned behveen those activities on a basis Consistent with the use of resources. Central staff costs are allocated on the basis of time spent, arKI depreciation charges allocated on the portion of Ihe asset'$ use. Support costs are those costs incurred directly in support of expènditure on the objects of the Charity. Governance costs are those incLJrred in connection with administralion of the Charty and compliance wtth conslitutional and statutory requirements. osts of generating funds are costs incurred in attracting voluntary income, and those in¢urred in trading activities that raise funds. Page 9
ThE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 ACCOUNTING POLICIES (CONTINUED) 1.3 Expendituro (contlnuod) Charitab18 activities and Govemance costs are costs incurred on the Charitys educational operations. including support costg and ¢08ts relating to the governance of the Charity apportioned lo charitable activrties. 1.4 Int•rest recelvabl• Interest on funds held on deposit is included when receivable and the amount can be measured reliably by Ihe Charity., this is nomialty upon notification of the interest paid or payable by the Bank. 1.5 Intangible assets and amortlsation Intangible a8set8 costing £1,000 or more are capit8llsed and recoonised when fulurè economic benefits are probable and the cost or value of the asset can be measured relbly. Intangible assatl are Inltialty fOCO9ni#ad at CO8t. After recognition, und8r tho cost model, intanglble 8ssets are measured al cost less any accumulated amortisalion and any arKumulated impairment losses. Amortisation 18 provided on intangible asgets at rat calculated to wrtte off the c08t of eo¢h a88et on a straight-line basis over its expected useful lrfe. Amort188tlon l& provoded on the foll(Ming basl8'. Website 25 % straight-line 1.6 Tangible flxod as80ts and d•preclatlon Tangible fixed assets costing £250 or more are capilalised and rKognised when fuiure economic beneffts are probable and the cost or value of the asset can be measurnd ffjliably. Tangible fLxed assets are initialty recognised at Gost. After recognilion, under the cosl model, tangible fixed asseis are mea¥ufed at cost less accumulated depreciation and any accumulated impaiment losses. All costs incurred to bring a tsng1e fixed asset into its intended working condition should be included in the M&ureMent of cost. Depreciation is charged 80 as to allocate Ihe cost of tangible fixed assets less their residual value over their esttmaled usefvl lives, . Depreciation is provided on the following basis.. Office equipment 25% Reducing balance 1.7 Debto Trade and other debtors are fecognised at the 8etdement amount after any trade di8count offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Page 10
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 ACCOUNTING POLICIES (CONTINUEO) 1.8 Cash at bank •nd In haftd Cash al bank and in hand includes Cash and short-term highty liquid invèstments with a short maturrty of three monlh8 or less from the date of ecquisitton or opening of the d8po$it or similar account. 1.9 Llabllltles and Pfovlslons Liabilities are recogni8ed when there 18 an obllgatlon at the Balance Sheet date as a result ol a past event. it is probable that a transfer of economic benefrt will be required in settlement, and the amount of the settlement can be estimated feliabty. Liabilities are recognised at Ihe amount that the Charity antlcipates It will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the besl e$tlmate of tha amounts required to 8ettle the obligalion. Where the effect of the lim6 value of money is material, the provlslon Is based on the present value of tho8e amounts, discounted at the pre-tax discounl rate thal reflects the risks specrfic to the liabilrty. The unwinding of the discount is recognised In the Statement of Financial Activilie$ as a finance cost. 1.10 Flnonclal Instwffl•nt8 The Charity only has financial assets and financlal Ikqbilitles of a klnd that qualify ag basic financial instrumenls, Basic finarlcial in8lTuments are Initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at 8morti8ed cost uslng the effective interest method. 1.11 Pen8lon• The Charity opwate5 a defined contrlbution pension scheme and the pension charge represents the amounts payable by tha Charity to th8 fund in r8$p•ct of y•ar. 1.12 Fund accounting Gen8ial funds are unrestricted funds which are available for use at the discretion ol the Trustees in furtherance of the general objects'ves of Ihe Charity and which have not been deSnated for other purposes. 1.13 Company statu• The Charity is a company limrted by 9uaraDtee. The members of the company included the Tru51ees nemed on page 1. In the event of the Charity being wound up, the liabilty in respect of the guarantee is limrted to £10 per member of the Chaiity. Page 11
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME FROM OONATIONS AND LEGACIES Unr•8trid•d funds 2023 Total funds 2023 GTants and donation8 39,000 39,000 Unrn8tricted funds 2022 Tolal fund5 2022 Grant8 and donati¢Jns 68,000 68,0(KJ INCOME FROM OTHER TRADING ACTIVITIES lTrcorn• from non ¢harltabl• tradlng actlvltles Unrnstrlcted lunds 2023 Total funds 2023 Charity tradlng inwne from events and sponsorship 504.336 504,336 Unrestricted funds 2022 Tolal funds 2022 Charty trading incorne from events and sponsorship 368,078 368,078 Page 12
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT INCOME Unrestrlcted funds 2023 Total funds 2023 Bank interest 1.397 1,397 Unre8tii¢ted funds 2022 Total lunds 2022 Bank intewt EXPENDITURE ON RAISING FUNDS Co•t• ol rnl•lng voluntary Income Unre8trlcted funds 2023 Total funds 2023 Awards ceremony costs Award judges fees Fundraising and publicty Wages and salaries Social se¢unty costs Contribution to defined contribution pension sd)em8¥ 221,389 1.520 24.423 68,500 5.854 1,321 221,389 1,520 24,423 68,600 5,854 1,321 323,007 323,007 Page 13
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 EXPENDITURE ON RAISING FUNDS (CONTINUED Costs of ralsing voluntary income {CONTINUEDI Unrestricled funds 2022 Total funds 2022 Award8 ceremony costs Fundraising and publicty Wag8s and salaries Social security Costs Contribution to defined contribLrtion penih)n 8cheme8 225,382 34.919 59,928 5.408 18,020 225,382 34.919 59,928 5,408 18,020 343,657 343,657 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES summary by fund type Unregtrbcted lunds 2023 Total 2023 Montoring costs Governance costs 217,678 22.804 217,878 22,804 240,482 240,482 Page 14
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YeAR ENDED 31 DECEMBER 2023 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES (CONTINUED) Summary by fund type (contlnuod) Unr•stricted funds 2022 Total 2022 Mentoring costs Govemance costs 41,586 22.575 41,586 22,575 64.161 64,161 Summary by exponditurn type Staff costs Other costs 2023 2023 Total 2023 Mènloring cost$ Governance cost8 131.470 86,208 22.804 217,678 22,804 131,470 109,012 240,482 Staff costs Other costs 2022 2022 Total 2022 M8ntorkng costs Governance ¢oJts 119,881 {78,295) 22,575 41,586 22.575 119,881 (55,720) 64,161 Page 15
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 STAFF COSTS 2023 2022 Wages and salarl Social securty costs Contribution to defined contnbution pension schemes 174,486 12,636 20.023 165,339 12,645 25,253 207,145 203,237 The average number cf persons employed by the Charity during the year was as follows.. 2023 No. 2022 Employees No employee feceived remuneration amounting to more than £PJO,000 in either year. TRUSTEES, REMUNERATION AND EXPENSES During the year, no Trustees received any remuneration or other benefts (2022 - £NIL). Durfng the year ended 31 Decèmber 2023, no Trustea expense8 have been Incurred (2022 - £NIL).. Page 16
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INTANGIBLE ASSETS Wabsit• Co•t At 1 January 2023 9,520 At 31 December 2023 9.520 Amortl8atlon At 1 January 2023 Charge ft>r th• year 2.380 2.380 At 31 Decernbor 2023 4,760 Not book value At 31 December 2023 4.760 At 31 December 2022 7.140 Page 17
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. TANGIBLE FIXED ASSETS Offlce •qulpmen¢ Co•t or valuatlon At 1 January 2023 7.268 Al 31 December 2023 7.266 Daprnclatlon At 1 January 2023 Charge for the year 1,076 Al 310ecemb8r 2023 4040 Not book valu• At 31 Oecember 2023 3,228 At 31 December 2022 4.302 11. OE8TORS 2023 2022 Trade debtors Other debtors Prepayments and accrued income 57,616 23,561 20.726 9,433 17,251 14,183 101,902 40,867 Page 18
THE GRIERSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. CREDITORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2023 2022 Tr8d8 creditors Accruals and deferred income 26.495 2.050 41,960 42,646 28,545 13. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 31 Docomb•r 2023 . 8•lance at 1 January 2023 In¢om• Exp•ndltur• Unr•8trlctod funds General Funds - all fvnds 377,4540 544.733 (663.4891 358,784 STATEMENT OF FUNDS - PRIOR YEAR Balance at 31 December 2022 1 January 2022 Income Expenditure Unrestrlcted fund8 General Funds - all fvnds 348,294 437.084 (407.8181 377,540 Page 19