REGISTERED COMPANY NUMBER: 05285411 REGISTERED CHARITY NUMBER: 1109385
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
FOR
GFCT LIMITED
GFCT LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
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Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 17
Detailed Statement of Financial Activities 18 to 19
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GFCT LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main purpose of the Charity is to provide prostate health awareness information including the provision of PSA tests when requested after Counselling. During the year it also expanded its activities into providing a wider range of health tests as the Trustees believe in the benefits of regular testing for common health conditions such as high cholesterol and diabetes risk.
The Charity benefits from personal recommendations and the use of a variety of Social Media sources and its website to widen awareness of its facilities to a wider audience. The Charity operates a people based personal telephone answering service for its service against the current trend of forcing people to use apps and written online requests only. This is particularly welcomed by older and less privileged sectors of society who may not have access to digital communications or who may struggle to use it.
Volunteers play a key role in supporting the Charity's work at testing events and the Charity won the Kings Award for Voluntary Service (KAVS) in November 2023.The Charity aims to support the findings of Professor John Deansfield who led the Taskforce on "Personalised Prevention" and who has stated he favours the creation of "Pre NHS" testing focusing on preventative healthcare which could unlock billions within two decades. If a 33% reduction in ill health can be achieved an increase in GDP of £320 billion over 20 years could be achieved. In the future year we are also planning to test for Lung, Bladder and Bowel Cancer.
STRATEGIC REPORT
Achievement and performance
Charitable activities
In addition to the KAVS Award outlined above the Charity's founder Graham Fulford was awarded the MBE in the 2024 Kings Birthday Honours list for services to supporting prostate cancer awareness and early diagnosis. Collaborating with its partners the Charity conducted around 68,000 PSA tests and around 11,300 other tests during the year. The "out of healthy range" results on the other tests conducted in the year was a staggering 44% proving the urgent need for more such testing to be carried out. Since its formation in 2004 the Charity has helped find over 3,000 prostate cancers which may not otherwise have been identified until too late. The Charity now conducts PSA and other testing for a widening group of corporate clients in addition to numerous voluntary groups.
Fundraising activities
This charity does not raise funds from the public.
Financial review
Financial position
The Trustees are very satisfied with the financial position of the Charity at the year end with a retained surplus of around 2.5% of its income. This meets their overriding criteria of providing a top-quality service as economically as possible whilst retaining a sound level of solvency. The retained surplus at the end of the year built up over 20 years was just under £100,000 leaving it well placed to meet future objectives and challenges. All funds are unrestricted although the Trustees follow a policy of financially supporting activities in areas where funds are donated.
Principal funding sources
The Charity's principal source of income remains as the reimbursement of PSA testing costs from individuals, Groups or Corporates.
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GFCT LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023
STRATEGIC REPORT
Future plans
The Trustee's aim is to continue to offer a wide range of tests. Whilst PSA testing will always be at the heart of its operations, they are very mindful of the need to engage with people living in more deprived areas and ethnic minorities who may be particularly vulnerable to a wide range of health issues. In this respect they are currently making Grant Support Applications to support health testing in 5 major cities in the Midlands and the North as well as supporting the installation of HIFU equipment in those areas. Work at Imperial College London Hospital under the auspices of Professor Hashim Ahmed indicates this could be a more suitable and less invasive treatment option for up to 12,000 newly diagnosed men a year. Currently only around 1,000 men a year benefit from this focal therapy mostly in the South of England.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Charity constitution
The Charity is Governed by its original constitution document approved by the Charity Commission in 2004.
Organisational structure
The Charity is supervised on a day-to-day basis by Susan Hart.
Margaret Lane is responsible for overseeing the administration function.
Decision making
The Charity currently has three Independent Trustees who make joint decisions on a regular basis.
Key management remuneration
One Trustee is paid for full time services and the remuneration is set by the other two Trustees. The other two Trustees are re-imbursed expenses. Full details of all payments to Trustees are outlined in note 8 to the accounts.
Wider network
The Charity has close working relationships with a number of Prostate Cancer Support Groups, other Organisations such as Lions Clubs, Rotary Clubs and Masonic Lodges and its Corporate Clients. All the partners of the Charity including at least one NHS Cancer Alliance can be found on its website at www.tgfct.co.org.uk or www.psatests.org.uk.
Details of all future events can be found at www.mypsatests.org.uk and www.myhealthtests.org.uk.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees keep all activities and related risks under constant review. The Charity carries three separate types of Insurance. Firstly, a General Charity policy covering the physical activity of holding events and taking samples. Secondly against Cyber-attack and thirdly for professional indemnity. Every change in its day-to-day activities including wording for all result communications to clients is referred to its insurers.
Lloyds Bank provides the main banking function, and a PayPal account is operated to segregate funds from users of the Charity's services which is used to pay the laboratory cost element of any tests undertaken. No one person has access to both bank accounts. TGFP Ltd are its Auditors.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 05285411 (Not specified/Other)
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GFCT LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023
Registered Charity number 1109385
Registered office
66b Smith Street Warwick CV34 4HU
Trustees
G R Fulford S A Hart C A Brown
Company Secretary
C A Brown
Auditors
TGFP Chartered Accountants & Statutory Auditors Fulford House Newbold Terrace Leamington Spa Warwickshire CV32 4EA
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of GFCT Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
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GFCT LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023
AUDITORS
The auditors, TGFP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 30 August 2024 and signed on the board's behalf by:
S A Hart - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GFCT LIMITED
Opinion
We have audited the financial statements of GFCT Limited (the 'charitable company') for the year ended 30 November 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 30 November 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GFCT LIMITED
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GFCT LIMITED
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the recognition of revenue. Our audit procedures to respond to these risks included:
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enquiry of management about the company's policies, procedures and related controls regarding compliance with laws and regulations and if there are any known of instances of non-compliance - examining supporting documents for all material balances, transactions and disclosures
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review of board meeting minutes of the trustees
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enquiry of management and review and inspection of relevant correspondence with any legal firms
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testing the appropriateness of a sample of significant journal entries recorded in the general ledger and other adjustments made in the preparation of the financial statements, and review of accounting estimates for biases
Owing to the inherent limitation of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
BENJAMIN REYNOLDS BSc(Hons) FCA (Senior Statutory Auditor) for and on behalf of TGFP Chartered Accountants & Statutory Auditors Fulford House Newbold Terrace Leamington Spa Warwickshire CV32 4EA
30 August 2024
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GFCT LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Testing Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 1,015,862 465 1,016,327 46,470 897,303 45,288 989,061 27,266 68,794 96,060 |
2022 Total funds £ 734,813 5 734,818 31,552 641,808 42,676 716,036 18,782 50,012 68,794 |
|---|---|---|
The notes form part of these financial statements
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GFCT LIMITED
BALANCE SHEET 30 NOVEMBER 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 1,071 CURRENT ASSETS Debtors 10 34,698 Cash at bank 170,006 204,704 CREDITORS Amounts falling due within one year 11 (109,715) NET CURRENT ASSETS 94,989 TOTAL ASSETS LESS CURRENT LIABILITIES 96,060 NET ASSETS 96,060 FUNDS 12 Unrestricted funds 96,060 TOTAL FUNDS 96,060 |
2022 Total funds £ 1,428 11,218 167,931 179,149 (111,783) 67,366 68,794 68,794 68,794 68,794 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 August 2024 and were signed on its behalf by:
S A Hart - Trustee
The notes form part of these financial statements
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GFCT LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ 1,610 1,610 - 465 465 2,075 167,931 170,006 |
2022 £ 45,022 45,022 (601) 5 (596) 44,426 123,505 167,931 |
|---|---|---|
The notes form part of these financial statements
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GFCT LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2023
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in debtors (Decrease)/increase in creditors |
2023 2022 £ £ 27,266 18,782 357 476 (465) (5) (23,480) (11,218) (2,068) 36,987 |
|---|---|
| Net cash provided by operations | 1,610 45,022 |
| ANALYSIS OF CHANGES IN NET FUNDS At 1.12.22 £ Net cash Cash at bank 167,931 |
Cash flow At 30.11.23 £ £ 2,075 170,006 |
| 167,931 | 2,075 170,006 |
| Total 167,931 |
2,075 170,006 |
2. ANALYSIS OF CHANGES IN NET FUNDS
The notes form part of these financial statements
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GFCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£).
Income
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Interest income is recognised using the effective interest method.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
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Costs of raising funds includes awareness promotion and event costs;
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Expenditure on charitable activities; and
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Other expenditure represents those items not falling into the categories above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Support costs
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include finance costs, governance costs, information technology costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment
25% on reducing balance
Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
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GFCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
2. DONATIONS AND LEGACIES
| Donations Gift aid 3. INVESTMENT INCOME Interest receivable - trading 4. RAISING FUNDS Raising donations and legacies Awareness promotion Event costs |
2023 £ 1,013,568 2,294 1,015,862 2023 £ 465 2023 £ 39,816 6,499 46,315 |
2022 £ 732,336 2,477 734,813 2022 £ 5 2022 £ 29,272 - 29,272 |
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GFCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
4. RAISING FUNDS - continued
Other trading activities
| Website costs Aggregate amounts 5. CHARITABLE ACTIVITIES COSTS Testing 6. SUPPORT COSTS Information Finance technology £ £ Other resources expended 9,317 11,963 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2023 £ 155 46,470 Governance Other costs £ £ 3,902 7,642 2023 £ 357 |
2022 £ 2,280 31,552 Direct Costs £ 897,303 Totals £ 32,824 2022 £ 476 |
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8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.
Trustees' expenses
One Trustee was paid £74,522 for the provision of administration, marketing, computer and other services during the year. One Trustee was paid £5,100 for the provision of office services and one Trustee was paid £2,751 for current year expenses and £16,980 for accrued expenses
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GFCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
9. TANGIBLE FIXED ASSETS
| COST At 1 December 2022 and 30 November 2023 DEPRECIATION At 1 December 2022 Charge for year At 30 November 2023 NET BOOK VALUE At 30 November 2023 At 30 November 2022 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accruals and deferred income 12. MOVEMENT IN FUNDS At 1.12.22 £ Unrestricted funds General fund 68,794 TOTAL FUNDS 68,794 |
2023 £ 34,698 2023 £ 77,195 32,520 109,715 Net movement in funds £ 27,266 27,266 |
Computer equipment £ 2,918 1,490 357 1,847 1,071 1,428 2022 £ 11,218 2022 £ 70,563 41,220 111,783 At 30.11.23 £ 96,060 96,060 |
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GFCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 1,016,327 1,016,327 At 1.12.21 £ 50,012 50,012 are as follows: Incoming resources £ 734,818 734,818 |
Resources expended £ (989,061) (989,061) Net movement in funds £ 18,782 18,782 Resources expended £ (716,036) (716,036) |
Movement in funds £ 27,266 27,266 At 30.11.22 £ 68,794 68,794 Movement in funds £ 18,782 18,782 |
|
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net At movement At 1.12.21 in funds 30.11.23 £ £ £ 50,012 46,048 96,060 50,012 46,048 96,060 |
|---|---|
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GFCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 1,751,145 1,751,145 |
Resources expended £ (1,705,097) (1,705,097) |
Movement in funds £ 46,048 46,048 |
|---|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2023.
14. LIMITED BY GUARANTEE
If upon the winding up or dissolution of the Company there remains after the satisfaction of all its debts and liabilities any property whatsoever the same shall not be paid to or distributed amongst the members of the Company but shall be given or transferred to some other Company or charitable institution.
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GFCT LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Investment income Interest receivable - trading Total incoming resources EXPENDITURE Raising donations and legacies Awareness promotion Event costs Other trading activities Website costs Charitable activities Charitable activities Other Staff training Rent Software and IT support Support costs Finance Bank charges Information technology Administration costs Other Insurance Sundries Computer equipment |
2023 £ 1,013,568 2,294 1,015,862 465 1,016,327 39,816 6,499 46,315 155 897,303 2,508 4,450 5,506 12,464 9,317 11,963 3,532 13 357 3,902 |
2022 £ 732,336 2,477 734,813 5 734,818 29,272 - 29,272 2,280 641,808 5,187 4,700 4,728 14,615 8,832 11,179 2,953 38 476 3,467 |
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This page does not form part of the statutory financial statements
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GFCT LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023
| Other Governance costs Accountancy and bookkeeping Total resources expended Net income |
2023 £ 7,642 989,061 27,266 |
2022 £ 4,583 716,036 18,782 |
|---|---|---|
This page does not form part of the statutory financial statements
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