Registered numbor: 04855173
Charlty number. 1100784
THE GRIERSON TRUST
U￿uDITEo
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 {res￿ned 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 p￿Sented 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 signif￿an11Y 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 Y￿re 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 W￿rnen 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
$esFions to each trainee, and Clear Cul Pictures who provided training on postproduclion workflow5.
Griernon DocLab In Focus Schemes
The Charity s￿Ured renewed lunding from Netflix in ordor to contlnue third editions of Iwo bespoke Grierson
l)o¢Lab 8¢heme¥ lo plug industry 8kill$ 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 opportunit￿S 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 T￿asUrer.
Flnanclal revlew
. Golng con￿rn
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$tee$ ackn￿ledge 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 rel￿bly.
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 tsng￿1e 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 deS￿nated 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