Charity registration number.. 1134727
The David Gibbons Foundation
Annual R8POrt and Flnanclal Ststements
for the Year Ended 31 March 2025
WESTCOTTS
TeRID ACCOUNTANT
BUS114ISS ADVIgFFIS

The David Glbbons Foundation
Cont8nts
R8ference and Admlnistratlve Detalls
Trustees, Report
2to6
Independent Examlnerfs Report
Statement of Financlal Actlvltle8
Balance She8t
Notes to the Financlal Ststements
10t017

The Davld Gibbons Foundation
Reference and Admlnlstratlve Detalls
Chalr
Dr John Franklsh
Trustees
Mr8 Elizabeth Lee
Professor Chris King CBE DL
Mr Slmon Bamett
Dr John Frankish
Dr Clive Stubbings, (Vice-chair)
1134727
Charlty Reglstratlon Number
Prlnclpal Offlce
24 Philip Avenue
Barnstaple
Devon
EX313AQ
Catherine Wi11Sam8 FCA DChA
Westcotts (SW) LLP
47 Boutport Street
Bamstsple
Devon
EX31 1SQ
Independenl Examlner
Page 1

The David Glbbons Foundation
Trustees. Report
The Trustees present the annual report togelher with the financial statements of Ihe Charity for the
year ended 31 March 2025.
ObJectlve8 and activltlos
The objectives and funding for the Charity come from the Will of Davld Ernest Gibbons, who dled on
the 20 February 2008, which provides for the establishment of the Charity and its endowment.
The maln objecliv8s of the Charity ar8 to award grants to promote the welfare and rellef of: .
1. People suffering from sickness or dlsabilty includlng mental illness and leaming disabilltles:
2. People suff8ring from financlal hardshlp.
3. The elderly;
In the County of Devon (with East Devon having preference) in any manner the Trustees may decide.
Object 1 has been broadened lo include bolh physical and menlal sickness, disability and learning
disabilily.
During the year the Trust88s have had regard to the guldance Issued by the Charty Commls8Son on
public benefit.
struclure? governance and management
The Charity has been fully compliant all relevant Charity Commission Guidance on Govemance.
Slnce March 2020, due to coronavlrus restrlctlons. Trustee meetlngs have been conducted 'on-Ilne'.
This removèd the need for the Charlty to flnd new office space {following closure of the previous
space in June 2021). Thes8 meetings are convi>nlenl, efficient. accurate, economlc and effective.
However, the Trustees have resumed meeting in person when an advantage or benefit Is agreed. The
trust does not have rent or own current offlce space wlth our manager operallng from home.
Trustee meetings have been increased from 4 to 6. Thls better faalitates managing the rise in
applications (increasing by 710h in 2 years) and has improved response tim8s and efficiency. The
Trustees now meet in January, March, May, July, September and November.
The Trustees have designated the May rneeling as an AGM, meeting in person at a hired venue.
January Is designated a Governance meeting and the Sèptember meeting which is scheduled lo meel
in person al a hired venue. The other 3 meetings are designated grant meetings with limit6d business
activity and conducted on-line. The Trust69s contlnue to reflect on the effectiv8ness of the meeting
sch8dule and will adapt as required.
Outslde of meetings contact between the Trustèes and the Trust Manager continues vla emall at18asl
weekly. TrLislees and manager notfy unavailability and holiday via email and using the Tlmelree app.
Some grants, ￿nSIdered as urgent, are now assessed and may be awarded swrftly outside of the
scheduled meetings using email, with the agreement of the Truste&s. This is important as it facilitates
grant rnaking in exceplional or urgent situations. This requires a minimum of 3 out of 5 Trustees to
agree on making a grant.
The Trustees continue to be extremely grateful to thelr Trust Manager, Cathy Houghton for her
thorough and excellerrt management of every aspect of the Charity's affairs.
Page 2

The David Gibbons Foundation
Trustees. Report (contlnued)
The Truslees are not remunefated but can clalrn reasonable travel expenses to attend a Trustees,
meeting or in the course of his or her duties. During the period of this report £55 has be8n paid to one
Trustee for travel exp8nses.
The Trustees are pleased to report that no ¢h8nges in management of the charity have taken place
during the reporting year. Trusteas are generally appointed for 3 years with any re-appointments
taking place in May IAGM), regardless of month of appointment. Consideration to Charity Commission
guidance that appointments are generalSy a maximum of 9 years is 8ccepled with exception to family
members. It is noted that this is guidance and might be varied if circumstances dictate.
The Trust8es have explor8d the possibillty of an amalgamation of both Trusts to a single Charity. Thls
Charity could take the fomi of a CIO. This would simplify the structure and reduce management time
and cost. Money was spent on legal advlce. and consultations wllh the Charities Commlssion. The
Charities Act 2022 was designed to make it e8sl8r for changes required by the Trustees to take place.
Delays to full implementallon forced the Trustees to wait until such time as these Changes are fully
implemented before taking further action and in¢urrlng more cost. No progr888 has been made wlth
thls during the report Period.
The Trustees undertook a review and ratlfication of the following policies at the January meeting
2025: Reserves and Investment, Safeguarding, Office Manual, the Trusts, Risk Assessrnent,
Governance code and register of Trustee interests.
The Truslees remaln vSgllant in their approach to grant-making, res8archlng charities on the Charlty
Cornmlssion website, Companies House, or other statutory body websites.. verifying all organisations
onllne: havlng sight of accounts for 811 organisatlons, ideally withln 6 months of thelr year-end. From
Novernber 2024 the Trustees agreed that applications for families and Individua18 would only be
accepted via an independènt, not for profit third party who would act as their referee and be
responslble for grant payments.
The Trust is receiving a significant increase in demand from Devon County Council (DCC) on behalf
of families. Adaptations have been made to the website and application process to facilitate this.
A meeting was undertaken with officers from DCC to set up a 'block grant, system but was not
finalised. DCC have been undergoing internal reviews and were not able to set this up and also felt
that a block grant would limit the amount of grants made. Thls will be revlewed in the future as lh8
number of grants is incr8aslng and accounts for considerable offlce tlme. However, contact with the
relevant Flnance Department of DCC is regular to ensure grants are utlllsed efficiently and 9ffectively
and expedlently or retumed to us.
Policies surrounding the payment of all grants rèm8ln rigorous lo minimise the risk of fraud,. payment
is by BACS only after confirming bank idenlification.
The Trust's system requlre5 feedback to gnsure grants are utllised in Ilne wlth the application and
within 6 months of receiving a grant. On occasion situations tnay change, and requests are made to
the Trustees for a delay or different US8 of a grant. The Trustees always conslder any such request
ijillgently before acceptin9 it.
The Trustees continue to welcome successful applicants sending feedback vla thankyou's. reports.
photos, and invitations, following receipts of grants.
Th8 Charity continues lo share all resources, website, and database, with The Gibbons Family Trust.
The running costs from 2025 and 2024 for both of the Gibbons Trusts have been paid from capital
withdrawals from the DGF in 2025. and this included payments to GFT of £28,315 in total. This is in
addition to the usual monthly recharge. This decision, by the Truste8s. was taken due to larger
investments and greater income in DGF to support grant making by the GFT.
Page 3

The David Gibbons Foundation
Trustees. Report (continued)
In addition, in the usual course of the year and separatety to d6cisions taken for these one of
payTnents from capital a monthly standing order exists lo GFT for monthly runnlng c03ts. with a
balancing transfer at the end of the financial year to complete full payment.
The Trust885 are pleased that the onllne grants database dalivers an efficlent and paperfess system
for Trustees In thelr preparation for rneetlngs.
AchSev•ments and performanco
It 1$ with Immense pride we can report that slnce 2011. £1.769.302 has been gifted In 1,219 grants.
During that tim8 average grants lo Indlviduals was £588 and to organlsations £1,816.
The Charlty grant policy follows the spiril of tho crlteria slipulated in the Trust Deed, The Trustees
continue to favour smaller IOCBI charities rather than larger national charities.
The Trustees are pleased that Ihe online grants database dellvers an efflcient and paperless sysl8m
for Trustees in th8lr preparation for meetlngs.
The Trustees have contlnued to dlslribule the maxlmum income avai18ble through grants, and have
utilised wilhdrawn capital, designated for grant spending. when income was not sufficient. With th8
extra money released from the 3 drawdowns 12022, 2024 and 2025) grant numbers have been
steadily increa$lng over the past 3 year8,
The result is the highest spend on grants distributed slnce the Trusl began. In thls reported year
£168,901 was awarded by way of 120 grants (£155,609 in 20241. The average gr8ril size being
£1,408. This growth is also renected in the number of applications received, 152 Ihls year which is an
Increase of 89 appllcatlons on jusl 2 y8ars ago.
Of Ihis total. £46,078 in 22 grants (average £2.094) remalned In East Devon, In keeping wlth the DGF
D&eds staled preference for this area.
£39,405 (£18.621 in 2024) was given to indwiduals through 60 grants (22 in 2024). This slgnificant
increase, as noted above, is largely due to incr8asing numbers from Devon County Council social
workers, on behalf of familles.
A full Ilst of the grants made to organisations is av8ilable as an appendix to thes8 accounts.
The Trustees were sad to report the death of the first Chalr of Trustees, Roger Dawe who worked with
David Gibbons to draw the daeds of both the DGF and GFT. He took over the running of both trusts
after the death of David and lh8 over58eing of Incorporating Ihe estate of Vera Gibbons on her d8ath.
As a mark of respect, the Trustees have agreed a grant of £10.000 towards refurbishments at
Resthaven care home, his favoured Charity.
Page 4

The David Gibbons Foundation
Trustees. Report (contlnued)
Flnanclal revlew
All the Charitls investment funds rem8in with CCLA Investment M8nagement Ltd. These are split
between 2 Funds. CCLA Ethical and CCLA Property. The Charity reports an investment income
during the y8ar of £124,046 available for grants (£123,666 in 2024 £123,666 in 2023, 2022 in
£124,549).
The Truslees welcomed the bank interest on Éheir CAF bank accounts of £1,300 (£470 '. 2024, £286 In
2023, 2022; £61.
On 31st March 2025 fvnds were CCLA Ethical £2,057,617 1£2,297.346 In 2024, 2023: £2,091.827,
2022; £2.201,595), and CCLA Property £1,121,073 1£1,105.480 In 2024, £1.165.608 In 2023.
£1,385,402 in 2022).
As always, the Charity tries to keep office costs paid from Unrestricted Funds as small as possible.
maximising income available for grants continues to be the financial priority. Office cosls amounted to
£15,658 (£12,983 in 2024, £11.731 in 2023. £11,482 in 2022). This represents 12010 of inveslmenl
income. refi8Cting the efficiency Df management and office policy. Thè increase in offic8 expenditure
is a direct relection on the significant increasè in applications and improvèments to internal Systems.
In Aprll 2024 a capllal wlthdrawal of £70,QOO took place and another of £80.000 In December 2024
(£77,000 in 20221 from the Expendable Endowmenl Fund. £30,000 of both trusts this was wlthdrawn
to cover costs meanlng all Income and the remalnln9 £120,000 could support granl maklng. As noted
8bov8. £28,315 of thls was repald to lh8 GFT for office cost relmbursem8nt not already covered by
the usual monthly recharge
The Balance Sheet ha8 fluctuated in value over the past $8veral years, due to turbulence in the stock
markets. A net investment loss of £74,136 has impacted the Balance Sheel in March 2025. This
means the value has decreased from £3,416,902 in 2024 to £3,255.238 at the time of report.
ReseNes and Investment Pollcles
Since the Charity CommSssion gave perm188ion In 2022 for the converslon of the Pemianent
Endowm8nt Fund to an Expendable Endowment Fund much greater flexlbiblily has benefitted grant
making.
The Truslees continue lo monitor the portfolio regularly.. receiving monthty valuations via their website
and quarierly reports from CCLA, plus an annual ￿VIeW with the Director of Client Services. The next
review is scheduled for May 2025 at the AGM.
The Trustees are satisfled that Ihe current balance of Investment Is as good and as $8fo as the
current financial situation can provide. The Trustees also watch the fluctuation in the fund values for a
future opportunity to further wlthdraw funds, when requlred, to boost the Unrestrlcted Fund.
In the Unrestrided Fund th8 Trusle8s operated a 'zero level polity, aiming lo spend each year all the
income available to them from Investments {after allowing for minimal offic8 expenses). It is not the
intention of the Trustees to build up Unrestricted Reserves. However, as at the 31st March 2025.
there is a current surplus of capital of £53,802 within the overall balance of £3,255.238. This is due
the addition of the £80,000, withdrawn in Dec 2024, bul not yet all spent on grants. This bolsters the
grant making ability of the Trust. but was not intended to be spent immediately. This has given the
Trustees much greater flexibility and granl making and is shown by the excess of expenditure of
£212,874. over income of £125.346.
Durtng 2025 £46,198 of capltal was awarded In grants, slgnlficantly hlgher than £25,827 In 2024
lustlfying the Trustees decision to withdraw further capltsl.
Page 5

The David Gibbons Foundatlon
Trustees. Report (contlnued)
statement of Trustees. Responslbilities
The Trustees are responsible for preparlng the Trustees, report and th8 financial statements in
accordance with tha United Klngdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice) and applicable law and regulatlons.
The law applicable lo chariti88 requires the Trustees to prepare financlal 8tatpments for each fSnancial
year which give 8 true and fair view of Ihe $18te of affairs of th6 Charity and of the Incoming resources
and appll¢ation of resources of the Charlty for Ihat perlod. In preparing these financial stst8ments. the
Trustees are required to..
select suitablè accountlng pollcles and then apply them con81Stently'
observe the methods and prlnciples in the Charities SORP;
make judgements and estlmates that are reasonable and prudent.,
state whether appllcable accountlng stsndard8 have been followed. subject to any malerlal
departures dlsclosed and explalned in the financlal statements,. and
prepare the flnanclal statements on the going concern basls unle&8 il Is Inappropriate to presume
that the Charity will contlnue In bu81ness.
The Trustees are responsible for keeping proper accounting records that disclose with r8a50nable
accuracy at any time the finanoal position of the Charity and enable them to ensure that the financial
st81ements comply with the Charities Act 2011. the Charities {Accounls and Reports) Regulations
2008, and the provislons of the constilutlon. The Trustees are also responslble for safeguarding the
8ssels of the Charity and hence for taking reasonable steps for the prevention and detection of fraud
and other Irr8gularilies,
The Trustees are responsible for the maintenance and Integrity of the corporate and financlal
information included on the charllabte companys website. Legislation governing the preparation and
dlssemlnatlon of financtal Statements may differ from legislation in other jurlsdl¢tions.
The annual report was approved by the Tru8tees of the Charlty on ?i[s
behalf by..
and signed on Its
r John
ankish
Chair and Trustee
Page 6

The David Gibbons Foundation
Independenl Examlner's Report to the trustees of The Davld Glbbons
Foundatlon
I report to the Trustees on my examination of the accounts of The DavKI Gibbons Foundation for the
year ended 31 March 2025.
Responslbilitle8 and basls of report
As the Charity Trustees of The Davld Gibbons Foundatlon you are responslble for the preparatlon of
the accounts In accordance with the requirements of the Charities Act 2011 ('the Act.),
I report In respect of my examlnation of th8 Thè David Glbbons Foundatlon's accounts carried out
under section 145 of the 2011 Act and in carying out my examinatlon I have followed all the
applicable Dlrectlons given by the Charlty Commission under section 145(5)(b) of the Act.
Independent examlner'8 8tatoment
I have completed my examlnatlon. I conflrm that no material matters have com8 to my attention In
cL)nnectlon wilh the examlnation glvlng me cause to believe that in any material respect:
1. accounting r8cords were not kept In r8spect of The Davkl Glbbons Foundatlon as required by
section 130 of the Acl., or
2. the accounls do not accord with those records. or
3. the accounts do not comply with the accounting requirements concerning the fomi and content of
accounts set out in Ihe Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fair 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 connectlon wlth Ihe examlnatlon to
whlch attention should be drawn in this report In order to enable a proper understanding of the
accounts to be reached.
Catherine Williams FCA DChA
Independenl Examlner
Westcotts (SWI LLP
47 Boutport Street
Barnstaple
Devon
EX31 1SQ
Date:.>.........rfY3x ￿>S
Page 7

The David Gibbons Foundation
Statement of Flnanclal Actlvities for the Year Ended 31 March 2025
Unr88trlcted
funds
Endowment
funds
Total
2025
Total
2024
Note
Income and Endowments from:
Investment income
125,346
125,346
124.136
Total Income
125,346
125,346
124,136
Expenditure on:
Charitable activities
212,874
212,874
168,592
Total expendlture
Gainsl(losses) on
investment assets
(212,874)
(212,874}
1168,592)
74,136
74,136
145,391
Nel (8xpenditurè)fincome
Gross transfers be￿￿en
fund8
(87.528>
(74,138)
(161.664)
100,935
150,000
150.000
Nel movement in funds
62,472
1224,136)
1161,664)
100,935
Reconclllatlon of funds
Total funds brought forward
Total funds carrled forward 14
14,076
3,402.826
3,416.902
3.315,967
78,548
3.178,690
3,255,238
3,416,902
All of the Charlty's activttles derive from contlnuing operations during the above two periods.
The funds breakdown for 2024 is shown in note 14.
The notes on pages 10 to 17 fom an Integral part of these financial statements.
Page 8

The David Gibbons Foundation
(Reglstratlon number: 1134727)
Balance Sheet as at 31 March 2025
2025
2024
Note
Fixed as8et8
Investments
11
3,178,690
3,402,826
Current assets
Cash 8t bank and in hand
12
78,888
47,240
Credltors: Amounts falllng due wlthln one year
Net current asset8
13
2,340
33.164
76,548
14,076
Net assets
3,255,238
3,416.902
Funds of the Charlty:
Endowmont funds
Unre•trlcted fund•
3.178,6
76,548
3,402,826
14.076
Total funds
14
3,255.238
3,416,902
The fi
¢181 statemgnts on pages 8 to 17 were approved by the Trustees, and authorised for issue
on .A-l.. ........... and signed on their behalf by:
Dr Joh
Chair
Frankish
nd Trustee
Dr Cllve Stubbings
Vice-chair and Trustee
The notes on pages 10 to 17 form an integral part of these financial statements.
Page 9

The David Glbbons Foundatlon
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
1 Accounting policios
Statement of compllance
The financial statements have been prepared in accordance with Ihe second edition of the Charities
Statement of Recommended Practlce issued In October 2019, th8 Financial Reporting Standard
applicable In the United Kingdom and Republic of Ireland IFRS 1021 and Ihe Charitl8s Act 2011.
Ba81s of prgparatlon
The David Gibbons Foundation meets the definltion of a publlc benefit entlty under FRS 102. The
accounts {financial statements) have been prepared under the historical cost conv8ntion wlth items
recognlsed at cost or transaction value unless otherwise stated in the relevant notel8) to thes8
accounts.
Golng concern
The Trustees conslder that there are no material uncertalntles about the Charitys abillty to continue
as a going concern.
Income and endowments
Inveslmgnt Incomo
Dlvidends are recognlsed once the dlvldend has been declared and rK)tlfication has been received of
Ihe dlvldend due.
Expendlturo
All expenditure is recognised once there is a legal or conslructive obligation to that expenditure, il Is
probable settlement is required and the amount can b8 measured reliably. All costs are all¢)caled to
thè applicablè expenditure heading that aggregale similar costs to that category. Where cosls cannot
be directly attributed to particular headings they have been allocated on a basis consistent wilh Ihe
use of resources, with central staff costs allocated on the basis of tlm& spent, and depreciation
charges allocated on the portion of th8 asset's use. Other support costs are allocated based on the
spread of staff costs.
Charitable acuvltles
Charitablg expenditure comprlses those costs Incurr8d by the Charity In the delivery of its acllvlties
and servlces for its beneficlaries. It Includ8s both costs that can be allocated direclly lo such activities
and those costs of an Indlrect nature ne￿$sary to support them.
Grnnt provlslons
Provlsions for grants are made whon the intsntlon to make a grant has been communlcated lo the
recipient but there is uncertalnty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include central functlons and havè been allocated to actlvlty Cost categorl8s on a basls
conslstent with the use of resources, for example. allocating propoty costs by floor areas, or per
caplta, staff costs by the time spent and other costs by their usag8.
Page 10

The David Gibbons Foundation
Notes to the Financlal Statements for the Year Ended 31 March 2025
(contlnued)
Fixed asset invastments
Fixed asset investments, other than programme related investments. are included at mart(et value al
the balan￿ sheet date, Realised gains and losses on investments are calculated as the difference
between sales proceeds and their market value at the start of the year, or their subsequent cost. and
are charged or Grediled to the Statement of Flnancial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values durlng thè year and are
credited or charged to the Stat8ment of Financlal AcUvltias based on the mark8t value at the year end.
Cash and cash equlvalonts
Cash and cash equivalents comprise cash on hand and call deposits. and other short-temi highly
liquid inveslrn8nts that are readily convertible to a known amount of cash and are subject to an
Insignificant Tisk of changè In value.
Fund Structu
Unrestricted income funds are general funds that ar8 available for use at the Trustees discretlon In
furtherance of Ihe objectives of the Charlty.
Financlal instruments
Classificatlon
Financial assets and ftnanclal 1labl1l￿es are recognlsed when the Charlty becom88 a party to the
contractual provlsions of the instrument.
Flnancial Ilabllltles and equlty Instruments are classifled accordlng to the substance of the contractual
arrangements entered Into. An equity instrument Is any contract Ihat evidences a resldual Interest In
the assets of the Charlty after deducllng all of its liabilllles.
Recognitlon and measurement
All finandal assets and Ilabilities are Inillally measured at transaction price (includlng transactlon
costs), except for those financlal ass8ls classified as at falr value through proflt or loss, whlch are
inltially measur8d at falr value (whlch Is normally the transaction prlce excludlng transactlon costs).
unless the arrangement constitutes a financing transadion. If an arrangement constitutes a financing
transaction. the financial asset or financi81 liability is measured at the present value of the future
payments discounted at a market rale of inlerest for a similar debt inslrument.
Financial ass8ts and liabilities are only offs8t in the statemenl of financial position when, and only
when there exists a legally enforceable right to set off the recognised amounts and the Charity intends
either to settle on a net basis, or to realise the asset and settle Ihe liability simultsneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash fiows
from the financial asset expire or are settled. b) the Charity transfers to another party substantially all
of the risks and rewards of ownership of the financial assel, or c) the Charity. despite having retained
some, but not all, significant risks and rewards of ownership. has transferred control of the asset to
another party.
Financial liabililles are derecognised onty when the obligation specified In the contraGt is dlscharged.
can¢e51ed or expires.
Page11

The David Gibbons Foundatlon
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
(contlnued)
2 Investment Incomo
Unre8tr1cted
funds
Total
2025
Interest receivable
Inveslment income
1.300
124,046
125,346
1.300
124,046
125.346
Unr6•trlcted
funds
Total
2024
Interest receivable
Investment income
470
123,666
124.136
470
123,666
124,136
3 Expondlturn on charltable acllvltie8
Unrgstrlctod
funds
Total
2025
Grants payable
Support costs
168,901
43,973
168.901
43,973
212,874
212,874
UnreStri￿Od
funds
Total
2024
Grants payable
Support costs
155,609
12,983
155,609
12,983
168,592
168,592
Pag8 12

The David Gibbons Foundation
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
(continued)
4 Analy818 of 8UPPOrt costs
Support
costs
Total
2023
Total
2024
Offlce expenses reimbursed to
Gibbons Famlly Trust
Recharge to the Gibbons Family
Trust
Independ8nt examinerfs fee
Legal and professional fe8S
Bank charges
28,315
28,315
13,258
2,340
13,258
2,340
10.259
2,232
432
60
60
60
43,973
43.973
12,983
The David Gibbons Foundation shares resources and the seNIc8s of a Trust Manager, employed by
the Gibbons Family Trust. Durlng Ihe year these costs were shar8d equally, and th8 David Gibbons
Foundation reimburses the Gibbons Family Trust for half of these costs retrospectively on a quarterly
basis.
The amount of £28,315 was repaid to Gibbons Family Trust in lieu of 2 years of office costs that has
not been reimbursed in previous year5.
The David Gibbons Foundation has capital funds invested wlth CCLA Investment Management Ltd.
CCLA income is received net of investment fees.
3 Grant4naklng
Analysi8 of grants
2025
2024
Analysls of grants
Granls to individuals
Grants to institutions
39,405
129,496
18,821
136.988
168.901
155,609
6 Net Incomlngloutgolng resources
Net outgoing resources for the year include:
2025
2024
Gainsl(losses) on other Inv8slment assets
74,136)
145,391
Page 13

The David Gibbons Foundatlon
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
(continued)
7 Trustee8 remuneration and expenses
During th8 year, The David Glbbons Trust relmbursed The GSbbons Family Trust half of the £55
(2024: £53) claimed In travel expenses by one Trustee.
No Truste8s, nor any persons connected wlth them, have recelved any remuneratlon frorn the Charity
during the year.
Legacies
Under the terms of the Wlll of late Mr D Gibbons this Charlty is a potential ben6fi¢iary of
Discretionary Trust Fund with capital value of £28.535 al 31 March 2025 (2024.. £31,880}. The other
potential beneficiaries are Ihe Glbbons Family Trust and Mr Kevin 8anfield, a former employee of Mr
Gibbons.
In 8dditlon the Davld Gibbon8 Found8tlon wlll a150 re￿1ve absolutety a property purchased under the
lemis of the Will. The same employee has the beneflt of the property during hls lifetime and on his
death the property will pass to the David Gibbons Foundation. The property was valu8d by Bradleys
Estate Agents at £390,000 in October 2016 (previously valued at £425,000 at the tlme of David
Gibbons, death in 2008).
9 Staff costs
The average head count of employees durlng the year was Nll {2024: NII),
No employ8e recelv8d emoluments of rnore than £60.000 during the year (2024.. Nil).
10 Independent oxamlnerfs remunerallon
2025
2024
Independent examination fees
2,340
2,232
Page 14

The David Gibbons Foundation
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
(contlnued)
11 Investmgnts
CCLA
Property
Fund
CCLA Ethical
Fund
Total
Co$t or Valuatlon
At 1 Aprll 2024
Falr value movements
Disposals
At 31 March 2025
1.105,480
15,593
2,297,346 3,402,826
(89,7291
{74.1361
150.000
150,000
1,121.073
2,057,617 3.178.690
Net book value
At 31 March 2025
1,121,073
2.057,617 3,178,690
At 31 March 2024
1,105,480
2.297.346 3,402.826
12 Cash and cash equlvalents
2025
2024
Cash at bank
78,888
47,240
13 Credltors: amounts falllng due wlthln one year
2025
2024
Granls payable
Other creditor8
Accruals
27,476
3.456
2.232
2.340
2,340
33,164
Page 15

The David Gibbons Foundation
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
(Gontlnued)
14 Funds
Balanco
Other
at 1 Aprll Incomlng Resources
recognlsed
2024 rosources expended Transfers galnsl(lossa81
Balance
at31
MarGh
2025
Unrestrlcted funds
General funds
14.076
125,346 (212,874) 150,000
76,548
Endowment funds
Expendable
Endowment
funds
3,402,826
150.000
74,136
74.136
3,178,690
3,178,690
3,255.238
3.402,826
150,000
Tolal funds
3 416,902
125,346
212.874
74,136
Balance at
1 Aprll
2023
other
Incomlng Resources
recognlsed
resources
expended galnsl{losse3)
Balance at
31 March
2024
Unrestrlcted funds
General funds
58,532
124,136
(168,592)
14,076
Endowmontfunds
Expendable Endowment
fund5
3.257.435
145,391
145.391
3,402,826
3,257.435
3,402,826
Total funds
3.315.967
124,136
168,592
145,391
3.416,902
Page 16

The David Gibbons Foundation
Notes to the Flnanclal Statements for Ihe Year Ended 31 March 2025
(continued)
15 Analy818 of net a880t8 betWOon funds
Unrestrlcted
funds
General
Endowment
funds
Expendable
Total funds
at 31 March
2025
Fixed asset investments
Current assets
Curr8nt liabilitles
3,178,690
3,178,690
78,888
2.340
78.888
2,340
Total net as88ts
76,548
3.178.690
3,255.238
Unrostrlctod
funds
Goneral
Endowment
funds
Expendable
Total funds
at 31 March
2024
Fixed asset investments
Current assets
Current liabilities
3,402,826
3,402.826
47,240
33,164
47,240
33,164
Total net assets
14,076
3,402.826
3,416,902
16 Related party transactlons
During the year Vicerychair and Trustee Dr Clive Stubbings ac18d as a Trustee and Secretary for
Exmouth Welfare Trust. A grant of £3,000 was paid to Exmouth welfa￿ Trust12024.. £3,000).
Page 17

Th8 David Gibbons Foundation
entureTherJ
Age Concern BJrnstJpie and Nonh Devon CIO
AEe Concern Crediion
A£e UK Exeter
AAMin￿ercomMUnltyShed
8riti$hWireless Fof The Blind Fund
Calibre Audio
Churches HousingActlonTeamlCHATI
CliizensAdvlce EKeier
Cllizenspthlce Souih Hom5
Cltlzens*4Jvlce Torbay
Cpmmon Flora
Credlton CommunltyBookshopLld TIA The Bookery
04>rtmouth Corlne
Deniald The Oentalcharlty
DreDm-a-wJy
Eos1 Devon Ridinftlorthe Dlsabled Group
Estuary League olFriends
LKeter CoMm￿nityT¥anSP0rtAss0cl0t10n
Exerer GJtewayCentre
Exeier Network Church
E%moulh Gatewayclvb
EKn)ouih Welfare Trust
FareShJre Souihwest
Foodcycle
Freedom CommunltyAlllance
Gala Givln2CIC
Glftedwomen
Glenorchy lobcafé
Hair in ihe Community
230
1.798
+arbDurNouse
1.000
Home.Stort Exeter. Ea￿ Jnd Mld Devon 3,001)
Hospis¢are
Insplringconneciions Southwest CIC
KlnRgbridEe Area Food Bank
LaunchpadlSWI C.I.C
Mawc Carpel
Merry Go Rpund Toy and Leisure Llbrorie
No Limi15CommunityCafe and Hub
Nonh DevDn l)own Syndrome Group
Open Ooor Exmouth
Phoenix Al￿nEFIt CIC
Plyniouth CItyCoun¢il
Pro}ecl Food
2.000
AE.'STOREAXEVALLEYCIC
1.250
Refueeesupport Devon
i.ooo
Rest Hoven (Royroawe memoriolFJan 10.000
Rowcroft Hospice
2.050
Sea¢hange Devon
1.000
Slep One Charity
1.000
Tel￿brIdge Communiry Projeet CIC
1,5
The ALice Crc1s5Centrt
2.500
The Strow Paieh Projeet CIC
2.no
Trevi Women Lt
Unite Corers In Mid Devon
Veierans Ouidoors
Illsioricore lor Ho￿ete$spe0p1e
Westbank Community Heolth and Care
Weh¥heelSTort￿y
WhJi*YourProblemC.I.C.
2.000
3.000
920
i.1￿0
2.OLM)
2.OQO
1.50
1,623
3.000
1.51JO
1300
500
2.160
1.000
5.000
2.IJOD
2.0110
3.000
3.lJOO
1.000
.3.000
s.ooo
1.500
3.￿0
4.000
2.000
1.500
1.000
1.000
2.000
1.500
1.500
Page 18

The David Gibbons Foundation
Rest Haven (Roger Dawe memorlal grant)
Exeter Gatewaycentre
Open Ooor Exmouth
Unlte Cafers In Mld Devon
Fareshare South West
Axminster Comrnunlty Shed
citlzens Advlce Exeter
Dentaid The Dental Charlty
Dream-a-way
Exeter Cornmunlty TransportAssoclatlon
Exmouth WeltareTrust
Homfrstart Exeter, East and Mld Devon
Hosplscare
Ptyrnouth Clty Councll
Trevl Women Ltd
The Straw Patch Project CIC
AdventuieTherapy
The Allce Cross Centre
No Llmlts Communltycafeand Hub
Rowcroft Hosplce
10,000
5.000
5.000
5.000
4.000
3.OlXI
3,OlY)
3.000
3,000
3,000
3,000
3,000
3,0(K)
3,000
3.000
2.770
2.500
2,500
2,160
2,050
Total
70,980
Page 19