Chaiity reglstratlon number 1145202 {England and Wales) Company registration number 07867602 GUILDFORD POYLE CHARITIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
GUILDFORD POYLE CHARITIES LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrs Deljorah Drury {Grants Chair) Ms Nicola Freeman Mr Matthew Gray {Joint Chair of Finance & General PoseS Committee) Mrs Moyra Matrdvers Mr Tim Metson {Joint Chair of Finance & General Purposes Committee) Dr Jonathan N¢Jrris Mr Mike Evans Mrs Sandra Robinson Mrs Alison Bass Mr Robert Kiley (Chair from 23 May 2024) Mr Matthew Roberts (Deputy Chair from 23 May 2024) Mrs Kathryn Mills Ms Audrey Howells Mrs Amanda Cretse MrAndrew Hamilton Mr John Wdrchus (Appoirrted 23 May 2024) (Appointed 23 May 2024) harity number (England and Ylales) 1145202 Company numb•r 078676IY2 RaglstBrad offic8 208 High Street Guildford Surrey GU1 3J8 Independent examlner Stephen Meredith FCA DChA Alliotts LLP One Ground Fboi 3 London Square Cross Lanes Guildford sUrY GU11UJ
GUILDFORD POYLE CHARITIES CONTENTS Page Trustees, report Independerrt examinerfs report Statement of financi activtties Summary income and expenditure accourrt Balance sheet 10 Note8 to the financial statements 11-23
GUILDFORD POYLE CHARITIES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trusteés present their annual r6POrt and finanrial statements for the year eThJed 31 December 2024. The financial slatements have been prepared in accordance with th8 accounting policies set out in note 1 to the finan¢ial statements and Comply with the Charity's memorandum and artides of association. the Companies Ad 2006 and "Accounting and Rèporting by Charities= Statement of Remmended Practice applicable to charities preparing their accoun15 in acccrdance with the Financial Repo.ng Stsndard applicable in the UK and Republic ol Ireland {FRS 102) (effectiV8 1 January 2019)" Objectlves and activitles The aims and objeoives of the Charity are-. The relief of financial hardship, either generally or individually, of people liwng in Guildford Poyle Charities, area of benefit by making grants of money for providing or payirKJ for items, services or facilities. To enable social inclusion for the public benefit by making grants of money to individuals or organisations so as to prevent people from becoming soaally excluded, relieving the needs of those people who are socially exduded and assisting them to integrate into society. The Trustees have paid du6 fegard to gUIdar issued by the Chaiity Commi&sion in decidiry what activities the Charity should undertake. Review of Activrligs During the period under review. a total of forty-three grants were made to organisatFons assisting those in need whose aims met the Trustees. guidelines (for more intormation see below). These grant award5 totalled £109,761. Twenty of these grants were to schijols to used for uniform and school trips. Due to a few adjustments fr retumed grants £108.971 was actually paid out Nillety-six grants were awarded lo individuals and totalled £24,886. Twenty-one grants were rejected because the applications did not meet the Charty guidelines. During the year some grants were not taken up and some grants underspenVovet5Pellt for various reasons. Grants actually paid during the year totalled £21,285. Two grant payments were made to inthviduals for grants agreed in 2023. At the end of the period seven grants ¥here still due to be paid totslling £1.227. Post year end £176 of these remaning grants were not tsken up. 11 1$ also expected £149 will be returned for part of a grant not spent. Examples of assistance given included white goodslelectrical items, fumiture, clothing and contribLrtions towards flooring. Ajthough awarded during the year, there was one grant with a small overspend, This amounl was approved by the Indimdual Grants Chair. Two small awards were made to inthviduals carrying out domesiic work fc dients of Home Support SeNice$ {Guildfordl who were thosen lo take part in the 2024 Guildford Poyle Dicing Ceremony. This event took place under the terns of the wills of John How and John Parsons who left a small Sum of money for this putpose at the turn of the 17th century. Grant Making Policy Applications for grants are received direct from individuals and from various statutory and volunlary bodies working wth those in need. Applications from individuals 8re reviewed against ojrrent working guidelines and decisions made at regular intervals by a committee comprising three Twstees and a member of staff. Decisions on grant application awards to organisations are rnade by a committee. Guidelines for grant making for both individuals and organisations are reviewed annually to ensure that they reflect Ghanging circumstances.
GUILDFORD POYLE CHARITIES TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlgvements and performance The on-going wcKk of awarding grant5 in a tinEly, efficient and effe(ve way &es up the majority of the working time of the staff and the Trustees. In addition, particular points to TrJte for the charity during the year were.. During the year Barry Marshall retired as a Trustse. Al Trustees thanked him for his Gontrtbulion over the last eight years. Two new Trustees were successfully appointed. At the AGM in May 2024 a new Charity Chair, Robert Kiley Deputy Chair, Matthew Roberts We appointed. During the Year the Grants Chair role was split to have separale IndividL1 and Organisation Grant Chairs. Debbie Drury remains as the Organisation Grant Chair and Andrew HanNlton took on the Individual Grar)I Chair role. The budget for the year was under continuoLJS review given the current economic circ4Jmstances. During the year Trustees agreed an additional draw of £10k lo the budget agreed at Ihe beginning of the year. By the end of the year t fiJll draw Iransfer from the fund was not required, mainly due to grant applications being lower than expected and potential propety repairs not taking place. Updated poliaes were agreed. Grants, Guidelines were reviewed and amended to rellect thange$ in need or circumstances. The time period to take up Fumiiure grants was amended to four weeks to ty and assist with take up of these gr8nts. Supplier costs for white goods InCased during the year and is expected to cInue at this level inta next year. The individual grant application form was amended to ensure it is easy to complete online and as a hard Copy. This was ryrculated with a covering email prrjnoling grants to all referees who had applied on behaFf of dients during the last two years. This will a150 be arculated to other ¢onlacts durin9 2025. During 2024 staff and Trustees attended several tWOrkIng events and wsited organisation grant recipient events to witness the impact of the grants. The increase in the 'Dicing Ceremony payments took effect in 2024 vthich had been agreed in 2D23. During 2024 the propety remained the market for a possible sale. By the end of the year couple of offers had been received but none had been taken any further. In Q4 2024 the Trustees cornpleted a review of Rathbones. the current investment Managers. Sarasin and Partners were subsequently appointed with the aim to complete the transfer by the end January 2025.
GUILDFORD POYLE CHARITIES TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Examples of Organlsatlon Grants Awarded from the Income Fund during the Year St John's Church St John's Communlty Support (SJCS) requested a grant towards providing frozen meals to families suffering food povety during schocA holidays. The service is Nn by Voluntee and referrals are received from a wide number of agencies supporting peLy18 in Guildford. They are aiming to support one hundred plus families assuming X distributions of meals in a year. They have previousty received Poyle funding for similar projects particulaty during Covid restriclions. Therefore, Trustses aweed a grant award of £2,500 for on8 year to March 2025. Reskilled Year 3 - Running Costs a wood workshop to help marginalis8d individuals (age 25 to r6tirement) who have been unemployed for more than a year. to move on to sustsinable employment. The aim of the workshop is to raise confidence, transferable work skills and faialitate voluntary {or paid) worl(. Participanls attend one day a week. they leam to Use machinery etc. and make good qualty produds out of recycled wcod some of which will be sc4d. Poy16 has contributed funding to this projecl since tts inPtiOn. The grant was agreed in fv11 £3,750. St C8th8rlne'8 Approvod Premlses a project whth aims to assist ex-affenders rehabilitate into the community by addffssing issues such as employment Ipurchasing work tools and dothingl, housing (by wr¢ha$ing hsehold goods such as pots and pans, fumbture etc) and education (funding for courses)- Residents are monitored closely to protect the public and staff help to prowde opportunity for residents to integrate back into soaety Safely and positively. The fvll grant £1,500 was awarded. FinanGial roViOW The net operating deficit for the year was £76,747 {2023 - £75,180) befo investment gains of £167,503 {2023 - £179,002) and fixed asset propety revaluation of £6.260, SuItIng in a net movement of funds Cf £97,016 12023 - £103,822). Total ndS stood at £4.816,134 at the year end {2023 - £4.719,118) and were represented by endowment funds of £4,766,21612023- £4,667,550} and unrestricted funds of £49.918 (2023- £51,568). Reserv8s Pollcy 11 is the policy of the Charity that free reserves (unrestrided funds whh have not been designated for a specific purpose and those represented by fixed assets) should be maintsined at a level of £50,000 to cover a e1Ve- month period of overheads, lo enable continuity of operation rather than grant giwrbg. In th8 worst case scenario, it would also enable a cmlrolled shut down of the Charity. At 31 December 2024 free reserve5 Stood at £49.918 (2023- £51.568). Investmont Policy Any unieslTIGted caprtal is held in Guildford Poyle Charities (charity number 1145202}. whilst the endowment capital is held by its subsidiary. The Poyle Charity (tharity number 1145202-1). There are no restrictions on the Charity's prjwers to invest. The investment policy is set by the TNstees consider the capital growth, income quIrements. the risk profile and the investment manager's view of th& market prospeGls in the rnedium term. The Charity invest a proportion of fijnds in propety which gen8rate5 income as w811 as providing office a¢¢ommodation for use by the Charity. The Tru5tee$ meet the investment manager annually to review perf0m)an and discuss investment policy.
GUILDFORD POYLE CHARITIES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Total RerI] The Poyle Charity subsidiary invested endowment generates capital growth and interesvdiwdends which are reinvested. Trustees determine from time to ttme the proportioyt of the investrnent which will be converted to income, in a¢)[dance wth guidelines d&signed to ensure that to the extent p05sible, the income and ihe Trust for Investment (see below) are at least inflation protected and sustainable over the long term. As in 2023, the invested fund of the Charitses delivered less than the infiation pbjs 3 to 4% target albeit perforrning better than other performance benthmatks. The Charity rules for determining income take a view over a S y@ar period to allow for significant variation in the market. The Gushion of Unapplied Tolal Return IUTR) built up over the years enables the Charity income to be more consistent. The Charity receive quarterly reports from the fund manager and have an annual review meeling with the investment manager. The initial values of the Trust for Investment (the value of the pernianent endowmerrt) and the Unapplied Total Return IUTR) were estsblished by a decision of the Board of Trustees on 25 October 2018. to approve the proposal from the Finan and General PurFoses Committee (F&GP), to take effect from l January 2019. The initial value of the Trust for Investment was set at the value of the permanent endowment fund invested in the stock market on 31 December 2008, bèing an amount of £2,424,155. Tlis date was chosen because it was the first time that all the endowment funds of the Charity were combined. The initi'al value of the UTR al 1 January 2019 was £1,278.650. The value of the Charity's building was exduded from the TNst for InvestmenL None of the Trust for Investment has been allocated to the UTR and no reuprnent has been made from the UTR into the Trust for Investment in the period. The Charity received advice on the generality of total return investing, the guidelines for oxverting UTR to income and the Sustainability of the income from MrAlex Dow of Rathtxines. Mr Dow is a Chartered Fellow of the Chartered Institute for Securities and Investments. holding the Diploma, and is also a Chartered Finanal Analyst Charterholder. Risk Managemènt The Charities m8inlain a Risk Register to record perceived risks to busin835. operations and reputation. The Trustses have reviewed the register and consider that the charity has taken appropriate measures to mitigate these risks. Plans for future perlods The Charities intend to continue to provide grants lo individuals and organisations in line with the objects. Although the investment environment remans uncertain, the Trustees have deaded not to thange the principles on which th8 grants, budgets are detsmined. This will be kept under review in the light of need thin the locality and the prospects for capitsl growth of the investments. Structure. governance and managoment Constitution and Govemlng Documont Guildford Poyle Charities was incorporated on 1 December 2011. having been acted as an umbrella bady for a number of much older charities. The company is limited by guarantee and is governed by 8 set of Memorandum ar)d Artides of Association based upon model documents produced by the Charity Commission with gistratIon number 07867602. The company was registered the Charity Comrrission on 22 December 2011 with charity registration number 1145202.
GUILDFORD POYLE CHARITIES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees. who are also the directors for the pu•Se of company law, and vlho served during the year and up to the date of signature of the financial statements were.. Mr Gordon Reid (Chair from 19 May 2022) Mrs Deborah Drury (Grants Chair) Ms Nicola Freeman Mr Matthew Gray (Joint Char of Finance & General Purposes Committee) Mr Barry Marshall {DepLty Chair to 23 May 2024) (Retired 23 May 2024) Mrs Moyra Matravers Mr Tim Metson (Joillt Chair of Finwce & Gener Purposes Committee) Dr Jonathan Norris Mr Mike Evans Mrs Sandra Robinson Mrs Alison Bass Mr Robert Kiley (Chair from 23 May 2024) Mr Matthew Roberts (Deputy Chair from 23 May 20241 Mrs Kathryn Mills MsAudrey Howells Mrs Amanda Creese MrAndrew Hamilton Mr John VWard)u$ Mrs Ruth Bothwell (Resigned 1 FeLYuary 2024) (Appointed 23 May 2024) (Appointed 23 May 2024} (Retired 8 May 20251 Ro¢witmont and Appointment of Trustses The Twslee5 who have served through the period and since the period end are set out on page 5. Trustees are chosen for their knowledge of the sector the charity works in or for other specialist knowledge required to operate a successful charrty. Checks are carried out before a Truste8 is appointed include searching the Register of Removed Trustees held at the Charity Commission and the Insolvency Register to ensure candidates are eligible to take up appointment and obtaining an enhanced declaration of eligibility from the candidate. The board of Trustees comprise a minimum of three individuals but unless otherwise determined by ordinary resolution, shall not be subject to any maximum. Guildford Borough Counc41 is responsible for nominalirng one trustee to serve on the Board of Trustees. Retirement of Trustegs At each AGM. one-quarter of the Trustees must retire by rotslton vthich is determined by tlThe who have been in office longest since their appointment. There is a maximum tem of office of eight years. ahoUgh a trustee may be rtrdected for a further four year period if they are appointed Chair of Ihe Charity or Chair of any of the Comnitiees.
GUILDFORD POYLE CHARITIES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure On l January 2012 the assets and liabilities, except those ating to a pernnent Endowment Fund, were Irarhsferred from "Henry Smith's or The Poyle Chaiity known as GiHbJford Poyle Charities" Ifomierly Charity number 1078131) to the new charita& company. Under Charities Act legislation the pemianent Endowrrwt Fund had to be kept in the original unincorporated Charity- Thi$ unincorporaled charity has now been linked to the new charitable company wa a uniting direction and given a new charity number 1145202-1. On 26 JanLry 2D12 the Trustees of the old Charity resigned and the new charitable company became the sole Gorporate Trustee of the unincorporated charity. These aGcounts incorporate the r6sulls of both Guildford Poyle Charit$ (chartty number 1145202) and The Poyle Charity (united charity number 1145202-1). Trustee Inductlon and Tralning New Trustee8 partieipate in an irKluction session to familiari8e themselves wtth Ihe charity and the conte[ within which it operates. AnN)ng other things. this covers: The obligations of Trustees The main documents which set out the operational framevKxk for the chartty induding the Memorandum and Artides DfAssociation The charity's grant making guidelines Resourcing and the current financial p0SOn as set OLrt in the latest published accounts FUre plans and obiecbves Talks by relevant speakers are tyganised throughout the year lo help ensure that knowledge of the communtty in which the charity operates is upto-date and an 'Awayday' is hekl. Nthen required. The Trustées, report was approved by the Board of Truste8S. KJ _£/ Mr Robert Kile Tru$tso alr of Truste8$> Oate.. IS*
GUILDFORD POYLE CHARITIES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GUILDFORD POYLE CHARITIES I report to the Trustees on my examination of the financial statemenls of Guildford Poyle Charities (the Charity) for the year ended 31 December 2024. Responsibilities and basis of report As the Trustees of the Charity (and also its d1clor3 for the purr&$ of cornpany law}. you are responsible for the preparation of the financial statements in accc*dance with the requirements of the Companies AGI 2006. Having satisfied mysew that the financial statents of the Charity are rw)t required to be aUdrt under Part 16 of the 2006 Act and are eligible for independent exanwnation. I report in r8spoct of my examination of the Charity's financial statements carried out under Section 145 of the Charities Art 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable tlirections given by the Charity C¢)mmission under section 145{5)Ib} of the 2011 A¢t. Independont examin6rfs statsment I have completed my examination. I confimi that no matters have come to my attention in Gonnection wth the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the ChaTty as required by section 386 of the Companies Ad 2006. the financial ststements do not accord with those records., or the financial statements do not comply with the accounling requirements of Section 396 of the Companies Act 2006 other than any requirement that the finanoal ststsments give a true and fair view. which is ncl a matter considered as part of an independent examination., or the financial statements have not been prepared in a¢0)rdan with the methods and prinaples of the Statement of Recommended Praotice for accounting and reporting by charities applicable to charities preparing their finanaal statements in rdance with the Final Reporb"ng Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other matters in GQlln8Gtion wilh the examination to which attention should be drawn in this report in order to enable a proper understsnding of the financAal statements tc be reached. stephen Meredith FCA DChA Alliotts LLP One Ground Floor 3 London Square Cross Lanes Guildford Surrey GU1 1UJ Dated,
GUILDFORD POYLE CHARITIES STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrostricted Endowment funds funds 2024 2024 Totsl Unrestricted Endowment fvnds funds 2023 2023 Total 2024 2023 Notes com Donations and legacies Investments Other income 10,250 30,602 135,000 10,250 119,849 12,377 32,378 151,000 12,377 136,237 89,247 (135.000) 103,859 (151,000) Total income 175.852 (45,753) 130.099 195.755 (47,141} 148,614 Rasing funds 6.179 29,344 35,523 6,939 28,798 35,737 Charitable actiwties 171,648 171.648 188,057 188,057 T4)tal charftable expendltur• 177.827 29,344 207.171 194.998 28,798 223,794 Net operating (deficit) (1,975) 175,097) 177,072) 759 (75,939} (75,180) Net gainsl{lossesl on investments 13 167.503 167.503 179,002 179.002 Net loutgolng)Ilncoming TOUrceS (1.975) 92,406 90,431 759 103,063 103,822 Other recognised galns and losses Revaluation of tangible fixed assets 6,260 6,260 Net movemont in funds (1,975) 98,666 96,691 759 103.063 103.822 Fund balances at 1 January 2024 51,568 4,667.550 4,719.118 50.809 4.564,487 4,615,296 Fund balan¢es at 31 Decèmber 2024 49,593 4.766.216 4.815.809 51.568 4,667,550 4,719,118 The statement of financial activities indudes dl gains and losses recognised in the year. Th& statement of financial activities includes all gains and lo$se$ recognised in the year. All income and &xp8nditure derive from continuing activities.
GUILDFORD POYLE CHARITIES SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 All income funds 2024 2023 Gross income 175.852 195,755 Total expenditure from inconE fvnds 177,827 194,996 Net lexpenditureyincorne for the year (1,975) 759
GUILDFORD POYLE CHARITIES BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Fixed assets Tangible assets Investment properties Investments 15 16 17 48.319 496.681 4,261,321 42,059 557,941 4.108.721 4,806,321 4.708,721 Current assets Debtors Cash at bank and in hand 18 1.914 36.530 1,440 29.997 Creditors: amounts falling due within ono year 31,437 19 (28.956) (21,040) Nel Current assets 9,488 10.397 Total assets16ss curr•nt liabilillès 4,815.809 4.719,118 Capital funds Endowment funds- general Income fund8 Unrestricted fvnds 4,766.216 4.687,550 49.593 51,568 4.815,809 4.719,118 The company is entitled to the exemption from the audit requirement contained in sedion 477 of the Companies Act 2006, for the year ended 31 December 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 20D6 with re8p8Ct to aCCnting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial slatements ft)r the year in qu&stion in accordan with sectKJn 476. These financial statements have been prepared in accordance with the provtsions applicable to compani6$ subject to the small companies regime. The finanaal statements were approved by the Trustees on ... Mr Robort Trugtee lloy { air from 23 May 2Q24) Mr Matthew Grdy Trust•8 Company Registratlon No. 07867602 10-
GUILDFORD POYLE CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 AcGounling poll¢le8 Charity information Guildford Poyle Charib'es is a piivate CLKnpany limited by guarantee incorporated in England and Waes. The registered office ig 208 High Street. Guildford. sUry, GU1 3JB. 1.1 Accounting convention The finanal statements have been prepared in accordance with the Companies Act 2006. the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of RecomnEnded Practice applicable to charities preparing their accounts in accordan Mth the Financial Reporting Stsndard applicaè18 in the UK and Republic of Ireland (FRS 102} {effectNe 1 January 2019).. The charity is a Public Benefit Entty as defined by FRS 102. The charity has taken advantage of the provIsn$ in the SORP ts chaiities nol to prepare a statnt of Cash Flows. The financia statements are prepared in sterfing. which is the futIOnal currency of the Charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financia siatements have been prepared Lmder the historical c#)st c(¥)vention. The principal accounting policies adopted are set out below. 1.2 Going Concern At the time of approving the financial statements, the Trustses have a reasonable expedalion that the Charity has adequate resources to continu8 in operational existence for the foreseeable fiJture. Thus Ihe Trustees continue to adopt the going concem basis of accounting in preparing the finanaal ststemenls. 1.3 Charitsble funds Unrestricted funds are available for use at the discretton of the Trustees in fvrtheran of their charitable objectives. Restricted funds are subject io specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restrictsd funds a set OLrt in the notes to the financial statements. Endov4ment funds are suty'ect to specific crmditions by donors that the capital must be maintained by the Charity- 1A Income Income is recognised when the Charity is legally entitled to it after any perfomiance conditions have been met, the amounts can be measured rekably. and it is probable that inGome will be received. Cash donations are rècognised on receipt. Other donations are recogrnised On the Charity has be8n notifi6d of Ihe donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is reccgnised at the time of the donation. L8gacies are reGognised on receipt or otherwise if the Charity has been notified of an impending dislribution, the amount is known, and receipt is expectsd. If the amount is not known. the lega¢y is treated as a Contingenl asset. 11
GUILDFORD POYLE CHARITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policie8 Iconllnuedl 1.5 Exponditure Expenditure is recognised once Ihere is a legal or constructive obiigab'on to transfer economic benefit to a third party, it is probable that a transfer of economic benefils will be reqUId in setdement, and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The costs of each acbwty are made up of the total of dIrt costs and shared costs, induding support Costs involved in undertaking eath activity. DI¢t costs attributable to a single activity are allocated directty to that actiwty. Shared tx)$1s which contribute to rn0 than one ath'vity and support costs which are not attributable to a Single activrty are apportioned beeen those activtties on a basis consistent with the use of reSoUrs. Central staff costs are alloc4ted on the basis of time spont, and depreciation charges are allocated on the portion of the asset's use. All expenditure is accounted for on the accruals basis indusive of VAT. - Raising funds compromise those costs directly attributable to managing investment portfolros. Charitable activities indude grants made together with relevant support and goveman¢e costs. - Grants are charged in the year that they are approved for payment. No grants are deferred. - Olh6r expenditure represents those costs not falling inlo other heading8. 1.6 Tanglbl8 fixed assets Tangible fixed assets are initially treaSud at cost and subsequenty measured at cost or valuation, net of depreciation and any impairrwtt losses. Individual fixed assets cogting £SOO or more are catitalis&d at o)st. Deprea.015 recognlseo so as to Trte off the cost or VajatI)n of assets less their sidual values over their useful lives on the following bases: Computers and Offi equipment 33% Straight line Freehold land and assets are not depreciated. The gain or loss arising on the disposal of asset is determined as the dfference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies. 1.7 Investment propertles Investment property, which is property held to eam rentals andlor for capital appreciation, is initially re¢ognised at cost, which includes the purchase cost and any directiy attributable expenditure. Subsequently it is measured at fair valuo at the reporting end date. The surplus or deficit on revaluation is recognised in Statement of Finanaal Activities. 1.8 Fixed asset Invesbnents Fixecl ast investments are Initial measured at transaction pri exduding transaction costs. and are subsequently measured at fair value at eath reporting date. Changes in fair value are recognised in net incomel(expenditurg) for the year. Transaction costs a expensed a5 incurred. 1.9 Impairment of fixed assets Al each reporting end date, tho Chartty reviews the carrying amounts of its tsngible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the re¢ovarable amount of the asset is estimated in wder to determine the extent of the impaimient loss {if any). 12-
GUILDFORD POYLE CHARITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting polldeg (Continued) 1.10 Cash and cash equivalents Cash and Gash equivalents include Cash in hand, derM)%ts held at call with banks, t)ther short-temi liquid investments with original malurities of three months or less, and bank overdraft5. Bank overdrafts are shown within borrowings in Jent liabilities. 1.11 Flnancial Instruments The Charity has elected to apply the provisions of SectN)n 11 '8asic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charitls balance sheet when the Chartty becomes paty to the contractual provisions of the instrument. FinaNGial assets arKI liabilities are offset, wth the net amounts psented in the financial stat8ments. when there is a legally enforable right to set off the recognised amount5 arKI there is an intention to settle on a nel basis or to realise the asset and settle the liability simultaneously- Baslc Ilnancialassets Basic finannial asgets. whith indude debtors arKI cash and bank balan8. are initially measured at transaction price indu(Jing transadion costs arKI are subsequendy carried at amortised cost using the effective interest method ue$S the arrangement constitutes a finanung transaction, where the transaction is measured * the present value of the future receipts discounted at a market rate of interest. Financial assets dassified as receivable within C year are not amortised. Basic finan¢ial liabilities Basic financial liabilities. including crediiors and bank loans are initsally recognised at transaction priGe unless the arrangement constilules a financing transacticn, where the debt instrument is measured at the present value of the fulure payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not anrtised. Debt instruments are subsequently carried at amortised ¢osL using the effective interest rate nRthod, Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amount5 payable are classified as current liabilities if payment is due within one year or less. If not. th8y are psented as n-ent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effeclive interest method. Derecognition of financial liabilities Financial liabilities are dèrewgnised when the Charity's contractual obligations expire or are discharged or CanlIed. 1.12 Employee benefits The cost of any unused holiday entlernent is recJyJnised in the pertod in vthich the employee'5 services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed lo temiinate the employment of an employee or to provide temiination beneffts. 1.13 Retirement benefits Payments lo defined ¢ClributiOn retirement ben8fit schemes are Charged as an expense as they fall due. 13-
GUILDFORD POYLE CHARITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Crltl¢al accounting gstlmates and Judgaments In the applicatK)n of the Charity's accounting policies. the Trustees are required lo make judgements, estimates and assumptions about the carying amount of assets and liabrlilies that are nol readily apparent frorr other sources. The estimates and associatsd assumpts'ons are based on historiGal experience and other factors that are Gonsidered to be relevant Actual results may drffer from these esttmates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the mision affects anly that period, or in the peri(vJ of the revision and future periods where the revision affects both current and fjjture periods. Income from donations and legacies Unr8strF¢ted unreS1Cted funds funds 2024 2023 Donations and gifts 10.250 12,377 Investments Unrestricted Endowment funds funds general 2024 T¢)tal Unrestrt¢Xed Endowment funds funds general 2023 Total 2024 2024 2023 2023 Rental income Income from listed inveslments Int&rest 30.192 30,192 32,067 32.067 89,247 89.247 410 103.859 410 103,859 311 311 30,602 89.247 119,849 32.378 103.859 136,237 14-
GUILDFORD POYLE CHARITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other Income Unrestricted Endowment funds funds general 2024 Total Unrestricted Endovnnent nds funds general 2023 Total 2024 2024 2023 2023 Released from Unapplied Totsl Retum 135.000 (135.000) 151,000 {151.000} Ralsing funds Unr8strlcted Endowmgnt funds funds general 2024 Total UnStricted Endowment funds funds general 2023 Total 2024 2024 2023 2023 Investment management fees Support costs 704 5,475 29,344 30.048 5,475 986 5,953 28,798 29,784 5,953 6,179 29.344 35,523 6.939 28,798 35.737 Expenditurn on charllable activltles Unrestricted Unre$tri¢tsd Funds Funds 2024 2023 DirpGt costs Grant funding of actiwties (see note 8) 130,256 146.459 Share of support and governance costs (see noto 91 Support Govemance 35.194 6,198 35.525 6,073 171.648 188,057 Analysis by fund Unrestricted funds 171,648 188,057 15-
GUILDFORD POYLE CHARITIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable nlsati 2024 Boxgrove Primary School 8urpham Primary School Christs College George Abbot School Guildford County School Guildford Grovè Holy Trinity Junior Stho Kings College Merrow C of E Intant Scho Merrow Jur)iors (previously Bushy Hill) Northmead Junior School Onslow Infant School Pewley Down Infant School Queen Eleanors Junior Sch¢)ol Sandfield Primary School St Josephs St Peters Shared Church - June 2023 St Thomas of Canterbury Catholic Primary Schcx)i Stoughton Infant School Weyf181d Primary Wood stet Infants Guildford Shakespeare Company- Wth my Ey85 st John's Church- St Jthn's Communty Support {sJcs) Boxgrove Parent Teacher A5sociation- 8oxgrove Young Carers Enrichment Programm8 Salvatson Amy Housing Association (SAHA) Mulbery House- Trauma Informed Care- Iherapeutic seNices for residents RASAC Guildford Limited - Men's Support Programme Surrey Ufelong Leaming Partnership- Guiklford Communty Leaming Centre South Vvest sUrY DomesticAbuse SerVi- Faffish Children's Outreach Selwe SATRO - Inspiring and Raising Aspirations for Disadvantaged Primary ScPKJol Children in Guildford Reskilled Year 3- Running Costs Hedgels Almshouses - Hedgetts Gard6n Room Fumiturelink- Upgrade of l.T Equipment & Epos System Canterbury Care Centre- Drop4n centre assistant manager FositTron & weekly massage Iherapist Guildft)rd Town Centre Chaplaincy (GTCC) - Communty Angels (Vvarehouse Christian Trust Trading as) SKILLWAY- Support 4 Studenls South West Surrey Refuge Happy Christrnas Project George Abbot School Young Carers Group St. Catherine's Approved Premises (National Ptobation SeNce run hostd) Challengers Guildford Play and Youth Schemes Delight with Guildford Grove Primary School and Weyfield Primary Academy The Eikon Charity - Youth Support Practitioner Programme. Kings College. Guithrd The Emmaus Transformation Trust (The Lighthouse) - Guildford Lighthouse CHIPS- Be InSpid @ CHIPS Headway- Core fvnding - specialist support lo brain injury survivors in GuiIdfcd 1.C60 4,700 3,050 2,490 2,360 480 2,710 340 250 980 200 390 390 910 520 {288) 88 730 1.740 100 4.000 2.500 4,000 5,000 3,000 3.750 3.750 2,500 3.750 1,500 2.830 5,980 6,000 5,000 600 1.000 1,500 5,000 5,931 4,500 2,500 7.500 3,ODO Total 108.971 16-
GUILDFORD POYLE CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable {Continu8d) indi 21.285 Total Grdnts Payable 130,256 Support Costs Support Governance ¢osts Costs 2024 Support Govemance costs 2023 staff costs Office administrative expenses Office expenses Repairs and renewals 33,316 33,316 32.192 32.192 3.609 3,937 1193) 3,609 3,937 {193) 4.032 4,986 268 4,032 4,986 268 Independent Examination A¢un Legal and professional 3.528 2.394 276 3,528 2.394 276 3,360 2.280 433 3,360 2,280 433 40.669 6.198 46,867 41.478 6,073 47,551 Analysed betsyeen Fundraising Charitable activities 5,475 35,194 5,475 41.392 5.953 35.525 5,953 41,598 6,198 6.073 40,669 6.198 46,867 41.478 6.073 47,551 Govemance costs indudes payments of £5,922 12023: £5,fAQ) for accountancy and th8 Indep8ndent examination fees 10 Net movemont in fund$ 2024 2023 Th8 net movement in funds is stated after chaTringl{crediting).' Fees payable for the indepeTr#ent examination of the tharit$ financial ststements 3,528 3,360 11 Trustees None of the Trustees {or any persons cmneded with them} received any remuneration or benefrts from the Charity during the year. 17-
GUILDFORD POYLE CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Employees The average monlhly numb8r of emFloyees during the year was.. 2024 Number 2023 Number Employmont costs 2024 2023 Wages ané salaries Olhar pension costs 32.709 607 31,603 589 33,316 32,192 There were no employees wFv)se annual remuneration wa5 more than £60,0. 13 Gains and losses on investhbents Endowment Endowment funds funds 2024 2023 Galn¥(losses) arising on- Revaluation of investments Revaluation of investment properties 228.763 (61,280) 179,002 167,503 179.002 14 Taxation The charity is exempt from taxation on ts aclbvities because all its nme ts applied for charitable purposes. 18-
GUILDFORD POYLE CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Tangible fixed assets Freeho5d land aThl buildings Computers and offl¢¥ equlpment Total Cost At 1 January 2024 Revaluation 42.059 6,260 1.570 43.629 6.260 At 31 December 2024 48,319 1,570 49,889 Deprociation and impaimiont At 1 January 2024 1,570 1,570 At 31 Decenkner 2024 1,570 1,570 arrylng amount At 31 December 2024 48,319 48,319 At 31 De¢ernb6r 2023 42,059 42.059 16 Investment property 2024 Fair valu At 1 January 2024 Nel gains or b8ses through fair value adjustments 557,941 (61.260) At 31 December 2024 496.681 Investment property brought foTrvard indudes two roads Tmth a Trustee valualion of £25,000 (2023.. £25,000) each. In 2014 the Trustees reGonsid&red this valualion of the freehold investments after consulting people wilh appropriate skills and confimied tlkt this notional value remains appropriate. Investment property also comprises of the proports'on of freehold propety which is currently being rented io third parties. The fair value of the investment propety has been arrived al on Ihe basis of Ihe valuation carried out in February 2025 by Owen Isherwood Chartered SueY0rS. who are not connected hth the Charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties and the trustees regard this as the appropriate valuation at the year er)d. 2024 2023 Freehold 496.681 557,941 19-
GUILDFORD POYLE CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Fixed assot investmènts Llsted investments Cash in portfolio Totsl Cost or valuation At 1 January 2024 Additions Valuation changes Di$posa15 3,982,243 1,273,1 228,763 (1.230.282} 126.478 4,108,721 1.273,196 228,763 1119,077} {1,349,359) At 31 Decamber 2024 4,253,920 7.401 4,261,321 Carylng amount At 31 Decemb8r2024 4,253.920 7.401 4,261,321 At 31 December 2023 3,982,243 126,478 4,108,721 18 Debtors 2024 2023 Amounts falling due wlthin one yoar: Prepayments and &crued income 1.914 1,440 19 Creditors: amounts frdlllng due within on• year 2024 2023 Notes Deferred income Other creditors Accruals 20 6.917 15,DOO 7,039 15.000 6,040 28,956 21,040 20 Deferred Income 2024 2023 Other deferred income 6,917 Deferred income is included in the financtal statements as follows: 2024 2023 Def&rred income is included within- Current liabilities 6,917 Movements in the year.
GUILDFORD POYLE CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Deferrod Income (Continued) Deferred in¢ome at 1 JUary 2024 Released from prewous periods Resources deferred in Ihe year 6,295 (6,295) 6.917 Deferred income al 31 December 2024 6,917 Deferred InMe retates to rent receNed in advance. 21 Retirement benefit schemes 2024 2023 Defined contribulion schomes Charge to Statement of Financail Activities in respect of defined contribution schemes 607 589 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independenY administered funtJ. 22 Endowment funds Endowment fuTrJs re¢¥¢nt a&*ets whrGh must be held permanently by the Charity. Income arising on the endowment funds can be used in accordance with the objects of the Charity and is included as unrestricted income. Any captsi gains or losses ari&ng on the assets fomi part of the fund. At 1 January Incomlng Resources 2024 resour expended Gains and losses At31 DgGgmber 2024 Permangnt gndowmants The Poyle Charity 4.667,550 {45.753) (29,344) 173,763 4,766,216 Prèvious year. At l January 2023 InGoming Resources resources expended Galns and losses At31 Docernber 2023 Pernianent endowments The Poyle Charity 4.564,487 (47.141) (28.798) 179.002 4,667,S50 21
GUILDFORD POYLE CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds The unrestricted furKls of Ihe charity comprise the unexpended balances of donations and grants which are not subject to speafic (xjnditions by donors arKI grantors as to how they may be used. These include deSnated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At l January 2024 Incomlng resources R850ur¢8s expended At31 De¢ember 2024 General fvnds 51.568 175,852 (177,82n 49,593 Previous year: At 1 January 2023 Incoming Rosources resour¢oS expendèd A131 Decembgr 2023 General funds 50,809 195.755 1194.996) 51,568 Analysis of nel assets between furKIs Unrestricted Endowment funds funds 2024 2024 Total 2024 At 31 December 2024: Tangible assets Investment properties Investments Current assetsl(liabifitie5) 48,319 496.681 4,221.216 48,319 4%,681 4,261.321 9.488 40,105 9,488 49,593 4.766,216 4,815,809 Unrestrl¢tsd Endowm8nl nds funds 2023 2023 Total 2023 At 31 December 2023: Tangible assets Investment properties Investments Current assetsl{liabilities) 42,059 557,941 4,067,550 42.059 557,941 4.108.721 10,397 41,171 10.397 51,568 4,667,550 4,719.118
GUILDFORD POYLE CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 25 Rolatsd paty transactlons There was one related party transaclons during the year ended 2024. (2023 - Two) TNstee of the tharity, Kathryn Mills. wor*s for Delight whth was awarded a grant in the year of £5,931. Apart from the above, there were no fvrther related party transaclicrn. 22 Total Retum Endowment Unapplied Total Return Total At 1 January 2024 Trust for InvestTnent Unapplied Total Relum 2.425,155 2,425,155 1,642.395 1,642,395 Total 2,425,155 1,642.395 4,067,550 Movemenls in reporting period Investment retum.. Diwdends and Interest Investment rètuyn: Realised and UnOI1S@d gains and {losse8) Less". investrnent managers costs 89.247 89,247 228,763 {29,344) 228,763 (29,344) Total 288,666 288,886 Unapplied Total Retum allocated to income in the reporting period (135,000) 1135,000} Net nKsvefflerts in reporting period 153.666 153,666 At 31 December 2D24 Trust for Investment Unapplied Totsl Retum 2.425.155 2,425,155 1,796,061 1,796,061 Totsl 2,425.155 1.796.061 4,221,216 -23-