Charity number.. 1108775 THE JAMES GIBSON CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE JAMES GIBSON CHARITABLE TRUST CONTENTS Page Reference and Administrative Details of tho Charity. its Trustees and Advisers Trustees. Report Independent Examiner's Report Statement of Flnanclal Actlvltles Balancg Sheet Notes to the Flnanclal Statements 8-17
THE JAMES GIBSON CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trustees George David Gibson William Bonner-Davies Joanna Skipwith Charity registered number 1108775 Principal office The Manor House 10 Chapel Lane The Reach Cambridge CB25 OJJ Accountants Streets LLP Tower House Lucy Tower Street Lincoln LN1 1XW Bankers CAF Bank Ltd Kings Hill Wesl Maitling Kent ME 194JQ Page 1
THE JAMES GIBSON CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual report together with the financial statements of the Charity for the year 6 April 2023 10 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the Charities Act 2011, the Financial Reporting Standard 102 leffeclive January 20191 and the provisions of the trust deed dated 16 March 2005. Oblectlves and actlvltles a. Pollcles and oblectlves The objectives of the charity including the grant making policy are as follows.. The Iruslees musl apply the income of the charity and at their discretion may spend all or part of the capitsl of the charity to make grants to organisations that are registered charities under the laws of England and Wales or that are otherwise recognised as charities by the Commissioners of the Inland Revenue. The Iruslees, aim is to identify suitable projects for consideration and welcome written applications to the registered office. The trustees intend lo continue providing donations in a similar way as previous years retaining flexibility as lo the liming and scale of the donations. The Trustees have absolute discretion as lo whether to approve a grant to any particular applicant and will not give reasons for any refusal. In setting objectives and planning for aclivilies, the Trustees have given due consideration to general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a charity IPB21'. Achlevements and performance a. Maln achlevements of the Charlty The Trustees assessed suitable projects for funding throughout the year and made donations directly lo charities or through the Big Give, a charity that facilitates malch-funding. Donations were made of £80,000 to 21 charities working lo protect the environment, including those working to protect rainforest, marine environments, endangered species and habitats, and those campaigning lo reduce the harm caused by plastic and chemical waste to rivers and oceans. £38,000 was given to selected charities tsking part in the Big Give and funding was matched accordingly. £42,000 was given directly to selected charities. The three largest grants, each for £10,000, were made to Fauna and Flora, Greenpeace and Rainforest Trust IUKI. Flnanclal revlew a. Golng concem After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial slatemenls. Further detsils regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves pollcy The Iruslees operate a single unrestricted fund that is primarily represented by the market value of investments and nel cash deposits required to generate resources from which charitable donations are made. The capital base of investments is used to generate income for distribution on an annual basis. Page 2
THE JAMES GIBSON CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 5 APRIL 2024 c. Flnanclal Revlew and Investment Pollcy The incoming resources of the trust for the year to 5 April 2024 amounted to £526,43312023.' £52,907) of which £42,11112023." £52,907) was all generated from its investments and £484,322 represents a donation of shares. Of the outgoing resources £80,000 12023.. £88,500) was distributed by way of charitable grants and other expenses absorbed £9,425 resulting in income exceeding expenditure by £437,020 12023.. expenditure exceeding income by £51,207). There was a positive nel Movement in funds for the year of £663,925 12023.. negative nel movement of £189,622). The balance of the unrestricted fund at the year end amounted to £2,667,95112023 £2,004,026). The value of investments under management was £2,556,470 al 5 April 2024 12023 £1,948,7111. The investment portfolio was under discretionary management with Dowgale Capital, who undertake a moderate risk investment policy and review the investment performance regularly with the trustees. The Trustees maintain a written investment policy that further details the management, risk and ethical policy of the investment funds. Structure, govemance and management a. Constltutlon The James Gibson Charitable Trust was established by Mr Georye David Gibson in a Setuement Deed dated 16th March 2005 under the law of England and Wales. The Trust is registered with the Charity Commission, registration number 1108775. The principal objectives of the Trust are to make donations and grants to such charitable institutions or authorities in such a manner as the Iruslees may in their absolute discretion think fiL b. Methods of appolntment or electlon of Trustees Details of the Trustees, who seNed throughout the year and since the year-end are set out on page 1 of these accounts. The Iruslees provide their services without charge and no Trustees, remuneration was paid during the year. Appointment of new trustees is al the discretion of the existing trustees and musl be appointed for a term of at least five years by a resolution of the trustees passed al a special meeting called under Clause 15 of the Deed. All matters of policy and management are determined by the Trustees who routinely meet twice a year to agree the appeals that will be successful in receiving donations for the year. c. Pollcles adopted for the Inductlon and tralnlng of Trustees On appointment, new trustees are provided with information on the structure, administration, policies and procedures of the Trust and the duties of the Trustees. Where appropriate and depending on the existing knowledge and experience in the charities sector of the incoming Trustee, any new Trustee is encouraged to consider whether they would benefit from extemal training. New Trustees are briefed about the Charity's objectives and how they have been achieved in the past. Plans for future perlods The trustees intend to continue lo support charitable objectives as sel out in the governing document. The Iruslees aim to provide grants to help their preferred charitsble objects. Page 3
THE JAMES GIBSON CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 5 APRIL 2024 Statement of Trustees. responslbllltles The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these fi'nancial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently", observe the methods and principles of the Charities SORP IFRS 1021", make judgments and accounting eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial slatemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them lo 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 Charity and hence for taking reasonable steps for the prevention and detection of traud and other irregularities. Approved by order of the members of the board of Trustees on 6 June 2025 and signed on their behalf by.. George David Gibson Vvilliam Bonner-Davies Joanna Skipwith Page 4
THE JAMES GIBSON CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED S APRIL 2024 Independent Examiner's Report to the Trustees of The James Gibson Charitable Trust Ilhe Charity'l I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 1.the 2011 Act'i. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and In carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Ststgmont sin the Charity's gross income exeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified lo undertake the examination because l am a member of the Instilue of Chartered Accountants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with A¢¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable In the UK and Republic of Ireland IFRS 1021 in preferenTr lo the Accounting and Reporting by Charities.. Ststemenl of Recommended Practice issued on 1 April 2005 which is referred lo In the extant regulations bul has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordan with the Generally Accepted Accounting Practice effecbve for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no mallers have come to my attention in connection wrth the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the fomi and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. 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 accounts to be reached. Signed.. CA Dated.. 0610612025 Linda Lord Bsc FCA BFP TEP Tower House, Lucy Tower Street, Lincoln, LN1 1XW Page 5
THE JAMES GIBSON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted funds 2024 Totsl funds 2024 Total funds 2023 Note Income from: Donations and18cleS Investments 484,322 42.111 484,322 42.111 52,907 Total Income 526,433 526,433 52,907 Expendlture on: Raising funds Charitable activities 7,553 81.860 7,553 81.860 11,440 92,674 Total expendlture 89,413 89,413 104, 114 Net incomel{expenditure) before net gainsl{losses} on investments Nel gainslllossesl on investments 437.020 226,905 437.020 226,905 f51,207) (138,415) Net movement in funds 663,925 663,925 (189,622) Reconciliation of funds: Total funds brought forward Nel movement in funds 2,004.026 663.925 2,004.026 663.925 2,193,648 (189,622) Total funds tarried forward 2,667,951 2,667,951 2,004,026 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 10 17 form part of these financial slatemenls. Page 6
THE JAMES GIBSON CHARITABLE TRUST BALANCE SHEET AS AT S APRIL 2024 2024 2023 Note Fixed assets Investments 11 2,556,470 1,948, 711 2,556.470 1,948, 711 Current assets Debtors Cash al bank and in hand 12 1,437 115,726 1,437 57, 760 117.163 59,197 Creditors." amounts falling due wthin one year 13 5,682) (3,882) Net current assets 111.481 55,315 Total assets less current liabilities 2.667.951 2,004,026 Net assets excludlng penslon asset 2,667,951 2,(4,026 Total net assets 2,667,951 2,004,026 Charity funds Reslricled funds Unrestricted fLJnds 14 14 2,667,951 2,004,026 Total funds 2,667.951 2,004,026 The financial ststemenls were approved and authorised for issue by the Trustees on 06 June 2025 and signed on their behalf by.. George Davld Glbson William 8onner-Davles Joanna Sklpwlth The notes on pages 8 to 17 form part of these financial ststements. Page 7
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Ggnoral information The Charitable Trust was established by a Settlement Deed dated 16th March 2005 under the law of England and Wales. The Trust is registered with the Charity Commission, registration number 1108775. Accounting policios 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities preparing their accounts in aceordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeetive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities". Statement of Recommended Pracb'ce effective from 1 April 2005 which has since been withdrawn. The James Gibson Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inib'ally recniSed at historical cost or transaction value unless otherwise stated in the relevant accounb'ng policy. 2.2 Income All income is recognised once the Charity has entillemenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation to investment income is recognised at the time the investment income is receivable. 2.3 Expenditure Expenditure is reeognised once there is a legal or conslruclive 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 ean be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo 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 lo a single activity are apportioned between those activities on a basis consistent with the use of resourees. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for ils charitable purposes and includes costs of all fundraising activities events and non-eharilable trading. Expenditure on charitable activities is inCUrd on direcuy undertaking the aetivilies which further the Charity's objectives, as well as any associated SUPF)Ort costs. Page 8
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Accounting policies Icontinuedl 2.3 Expenditure {continued) Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.4 Intorest recgivablo Interest on funds held on deposit is Included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Invostments Fixed asset investments are a form of financial instrument and are Inilialty recognised al their transaction cost and subsequently measured at fair value at the Balance Sheet dale, unless the value cannot be measured reliably In which case it Is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the Statement of Financial Activities. 2.6 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid Investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay lo 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 best estimate of the amounts required lo settle the obligation. Where the effect of the lime value of money Is material, the provision is based on the present value of those amounts, discounted at the pre-tsx discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. Page 9
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Accounting policies Icontinuedl 2.9 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exTrption of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.10 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment Income, gains and losses are allocated lo the appropriate fund. Income from donations andlogacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations 484,322 484,322 Total 2023 During the year shares with a market valuation of £484,322 were donated lo the charity. Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment Income 42,101 10 42,101 10 52,656 251 Interest Received Total 2024 42,111 42.111 52,907 Total 2023 52,907 52,907 Page 10
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Investmgnt management costs Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment management fees 7,553 7.553 11,440 Total 2023 71,440 11,440 Analysls of grants Grants to Institutions 2024 Total funds 2024 Total funds 2023 Grants, Charitable Activities 80,000 80,000 88,500 Total 2023 88,500 88,500 The Charity has made the following material grants to institutions during the year.. Page11
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Analysis of grants Icontinugdl 2024 2023 Name of institution Action for Conservation Blue Marine Foundation Bumblebee Conservation Trust Butterfly Conservation Cool Earth Action David Shepherd Wildlife Foundation Fauna and Flora 5,000 5,000 3.000 3,000 3,000 3,000 10.000 5,000 5,000 10,000 8,000 15,000 5,000 10,000 Froglife Greenpeace Pipal Tree Rainforest Trust UK River Action Sand Dams Woddwide Solar Aid Surfers Against Sewage Trees for Life Whitley Fund for Nature Wildcats Conservation Alliance IZSLI WildFish 10,000 1,000 10.000 5,000 5,000 2,450 5.000 2,500 3,000 3,000 3.000 3,000 9,950 Yorkshire Dales Millennium Trust 6,000 75,000 83,9(X) other grants lo instilulions1£1,000 or less) 5.000 4,600 80,000 88,500 Page 12
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Analysis of expendituro on charitsble activitiOS Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Charitable Activities 81,860 81.860 92,674 Total 2023 92,674 92,674 Analysls of expendlture by aetlvltles Grant funding of activities 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitable Activities 80,000 1,860 81,860 92,674 Total 2023 88,500 4,174 92,674 Independent examinor's remuneration 2024 2023 Fees payable lo the Charity's independent examiner for the independent examination of the Charity's annual accounts 1,500 3,882 10. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 5 April 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 13
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 11. Fixed assot investmgnts Listed Investments Cost or valuation At 6 April 2023 Additions Disposals Revaluations 1,948,711 734,776 {363.8221 236.805 At 5 April 2024 2,556,470 Net book value At 5 April 2024 2,556.470 At 5 April 2023 1,948,711 12. Debtors 2024 2023 Due within one year Tax recoverable 1.437 1,437 1.437 1,437 13. Creditors: Amounts falling due within one year 2024 2023 Accruals and deferred income 5,682 3,882 Page 14
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 14. ststgmgnt offunds ststgmgnt offunds- currentyear Balance at 6 April 2023 Gainsl Balance at 5 (Losses) April 2024 Income Expenditure Unrestrlcted funds General Funds 2,004.026 526,433 189.4131 226,905 2,667.951 Page 15
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 14. ststgmgnt offunds Icontinuedl ststgmgnt offunds- prioryear Balan at l April 2022 Gain Balan at (Losses) 5 April 2023 Income Expendrture Unrestrlcted funds General Funds 2,193,648 52,907 (104, 114) (138,415) 2,004,026 15. Summary of funds Summary of funds- current year Balance at 6 April 2023 Galnsl Balance at S (Lossesl April 2024 Income Expendlture General funds 2,004.026 526,433 189.4131 226,905 2,667.951 Summary of funds- prior year Balance at l Apnl 2022 Gain Balance at (Losses) 5 Apnl 2023 Income Expenditure General funds 2,193,648 52,907 (104, 7 14) (138,475) 2,004,026 16. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Fixed asset investments 2,556,470 117,163 15,6821 2,556,470 117.163 15.6821 Current assets Creditors due within one year Total 2,667,951 2,667,951 Page 16
THE JAMES GIBSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 16. Analysis of net assots between funds {continugdl Analysis of net assots between funds - prior pgriod Unrestricted funds 2023 Total funds 2023 Fixed asset investments Current assets Creditors due within one year 1,948, 711 59,197 (3,882) 1,948, 711 59,797 (3,882) Total 2,004,026 2,004,026 17. Related party transactions During the year shares with a market valuation of £484,322 were donated to the charity by Mr G Gibson Ilrusleel. Page 17