Cojiipany i'egisti'aiion nuinbei.: 07969941 Chai-ity iygisti'atioii niiinber.. 1146366 The Grocott Family Charitable Trust (A compally liinited by guarantee) Annual Report and Financial Siatemenls for the Year F.ndcd 31 March 2025 Tlie Grocott Family Charitable Trust Contents Ileference aiid Adiiiini5trative Details Ti'tislees, R¢port 2to4 Independent Auditors, Repoi't 5t07 Slalein¢nt of finai)cial Activities Balance Sheet Notes to che financial Statein¢nts Ioto 17 Tlie Crocott Famxly Charitable Trust Refcrence and Administi'ative Details Ti'iistees D V Grocott L M Grocott Secretary H Midwood ChRI-ity Registj'ation Nuniber 1146366 Coinpaiiy Rcgistration Number 07969941 The charity is iTJcorporated in Englaiid and Wales. Brookdale Slalion Road Prees Shropshire SY13 2DW Registered Office Auditor CBSL Accountants Liinited Chartered Accounlaiil and Statutory Audilor Ilowaii Flouse Noilh 1111¢ Pi'ofessi()iial Qiiai'tei. Shrew5bury Business Park sI￿¢W$bUry Shropshire SY2 6LG Page I The Grocott Family C'hai'itablc Ti'ust Trustees, Report The triistees, who are direclors for the piirposes of coiiipany law, present the annual I'eporl togethei. willi ihe financial stateinents and auditors, Irport of the Ghai'itable coinpany for the year ended 31 March 2025. Objectives and activities OlJje¢ls rfiid Iiliiis The objectives of tl)e chai'itable ts'iist are to furihei. siich objects or purposes which are exclusively chai'ilable ac¢oi'ding to the Idw of England and Wales, in Whiichurch and Ihe surrounding area &i)d in sucli a mannei. as the 'ustees inay in their absolu* discretioii tl)ink fit. Piiblic beiiefil The ti'uste¢s confirin Ihat they have coiiiplied witl) the requireineiils of sectiOT1 17 of the Cliarities Acl 201 I to have due i'egai'd to the public benefit giiidaiice published by the Charity Coinniissioii for England and Wales. Trustees And O￿leerS The li'ustees and officers serving during the year and since the year end were as follows: Ti'ustees: D V Grocolt L M Grocott Seci'etary: H Midwood Slructure• governance And iiianagement Nftliire of goveriiliig dociiiiieiil The charitable trust iy govemed by a Memorandum and Articles of Association dated 10th October 2011. Aelilevemcnt5 and performance The charilable b'ust Lonlinued lo let eight retiremeni bungalows, which provide high-quality, e¢oiiomical-to-i'un aiid affordable accoinmodation for older people in ihe local coinmunity. In addition the charitable Irust provided grdnls totalling £43,270 to local charitable puiposes. Flnanci81 I'eviciv The chai'itablL tTUSt received rental income of £49,934 and legacies and donations of £875,188 during the year. Costs in the year relate to the running costs of inaintaining the rental propeities, general site Inaintenance, donations made to local charitabl¢ causes and professional fees. At 31 March 2025 the charitable trust's net assets totalled £2,702,441. Policy oil reserves All funds are unrestricted to be used for the general chai'itable objectives of the charitable trust. The Trustees Iiold reserves to enable the charitable trust to meet its I'esidents, needs by maintaining the accommodation to a high staiidai'd. which Should total around twelve months averagg expenditure of £8,000. Additional reserves held are foi. Trustees to continue to identify further charitable needs within the local cotmnunity to suppoit. The chai'itable ti'ust holds unresti'icted reserves of £881,114 at 31 March 2025. The Trustees continue to look for local charitable projects to SUPPOrt. Page 2 Thc Grocott Fainily Chai-itable Trust Trustees, Ileport Plans for futui'e pei'iods Aliii,s uiiil key objecllveslorfiiliire periods T])e Trustees continue to review other cliarilable projects in the surroundiiig area lo suppoi'l in future periods. 4 inailcial insti'umeiits Objeelives fiiiclpolicies The Ti'ustees ieview the risks to which the charity ts exposed aiid systeins have beei) established to Initigate those i'isks. Internal risks ore Ininiinised by thc implemeiitation of procedures for auihoi'isation of all ti'ansaLtions and projects aiid to ensure consistent qualiry of delivery foi. all opeiational aspect5 of the cliai'itablc company. These pi'ocedures al'e periodically reviewed to ensure tliat thcy slill Ineel the needs of the cliarity. The cliarity do¢s not iise derivative financial iiistruments for speciilalive Pliiyoses. Statement of Responsibilities The ti'iistecs (who (li'e also the diieclors of The Grocott Family Charitable 'l'rtist for tlie purposes of coinpany law) are responsible foi. preparing Ilie trustees, report and the finaiicial stateiiients in accoi'dance with applicable law and United Kingdoin Accountii)g Slandai'ds (United Kiiigdom Generally AccLPled Accounting Pi'aclice). including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordanc¢ with the provisioiis in Ilie Compani¢s Act 2006 relating to small coiiipanies. Coinpany law i'equires the trustees to prepare financial stateinent5 for each financial year. Under company law the tt'ustee5 lllust not approve the financial slateinenls iinles5 they are satisfied that they give a true and fair view of the state of affairs of the cliaritable coinpany and of the incomin8 resources and application of resource5, in¢liiding ils incoine and expenditiire, of the chaTilable company for iliat period. In prepai'ing theye financial statements, the trustee5 are required to.. select suitable accounting policies and apply them consistently. obsei-ve tlie niethods and pi'inciples in the Charities SORP. Inake judg¢iiients and estimates that are reasonable and prudent. state whethei. applicable accoiinling standards. comprising FRS 102 have been followed, subject to any Inalerial dcpai'tui'es disclosed and explained in the financial statemei)ts' aiid pi'epare th¢ financial slaleinents on the going concern basis unless it is inappropriate to piesuine tliat the chai-itable coinpany will continiie in business. The ti'ustees are responsible for keeping proper accounting records that can disclose with reasonable accurncy at any tiine the financial position of the cl)ai'ilable coinpany and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also rosponsible for safeguarding the assets of the charitablc coinpany and hence for taking reasonable sleps for the prevention and detection of fraud and other irregiilarities. The trustees are i'esponsible for the Inaintenance and integrity of the corporate and financial information included on the charitable coinpany's website. L¢gislation governing the pr¢pai'atiun aiid disseiiiination of financial stateinenls may differ from legislation in other jurisdictions. Disclosure of information to auditor Each trustee has taken steps that they ought to have taken as a trustee in ordei- to Jnake theinselves awai'e of any relevant audit infonnation and lo establish that the charity's auditor is aware of that informatioii. The ts'ustees confll'm that there is no r¢levant information that they know of and of which they know the uuditoi- is unaw(Ire. Page 3 Tbe Grocott Family Charitable Ti'ust Trustees, Report Siiiall cO￿1panIeS provision stateineiit This i'eport has been prepai'cd in accordance with the small conipanies regime under the Companies Acl 2006. 161121.25 l-he annual repoit wa5 approved by the trustee5 of ihe chai'ity on ....... and signed on its bel)alf by: L M Grocott l-i'uslee Page 4 Tlje Ci'ocott Family Chai"itable Trust IndependLnt Auditoi s Report to the ML'mbers of The Grocott Family Charitable Trust Opiiiion We have audited ihc fiiiancial slateinents of The Grocoti Family Chai'il'able TTUSL (the 'chai'ity') for thc yeai. ended 31 Mai'ch 2025. which comprise the Statement of Finaiicial Activities, Balaiice Sheet. and Notes to the Financial Stalemeiits, incliidiiig a summary of significai)l accoLEnliJig policies. The financial reportiiig franiework tliat has been applied in their p￿pai?tion is Uniled Kingdom AccounliT)g Standiirds, compi'ising Chai'ities SORP - FRS 102 'The Financial Reportii)g Siandai'd applicable in Ilie UK and Republic of Ireland, aiid applicable law (Ui)tted Kiiigdoin G¢nerally Accepted Accouiiting Praclice). In oui. opinion the financial stal¢)nenls- give a tnie and fail. view of the state of th¢ charity's affairs as at 31 Mai'ch 2025 aild of ils incoming resources aiid application of resources, includii)g its iiicoine and expenditure, foi. the year Ih¢n ended; have beeii PlDperly prepared in accordaiice willi United Kingdoin Generally Accepled Accounting Practice. and have been pi'epared in accordance with the requirements of the Companies Act 2006. Basi5 for opiiiion We conduclcd uur audit in accordance with Internalioiial Standards on Aiiditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are fijrtlier described in 11)e audilor responsibilities for the aiidit of the fiiiancial slalemenls section of oui. report. We ale ind¢pLndent of the chai'ity in accoi'dance with the ethical 1'equi￿lI]en1S that al'e relevant to our audit of Ilie financial slatein¢nls in the UK, including the FRC'S Ethical Standard, and the provisions available for small cntilies, in the circumstances set out in noic to the financial stateiTJenls, and we have fulfilled our other ethical responsibilitie5 in accordance with these requii'einenls. We believe that the audit evidence we have obtained is sufficient and appi'opriate to pi'ovide a basi5 for our opinion. In the previous ac¢ounting period the company took advaniage of ihe audit exeinption foi. small ¢oiiipanies under s477 of the Coinpanies Act 2006. Theri'loi'e the prior period financial statements were not subject to audit. Conclusions relating to going coneei'n In aiidiling the financial statein¢nts, we have concluded that the Iiwslees use of the going concei'n basis of accounting in the pi'eparation of the financial stateineiits is appropriate. Based on the work we have perforined, we have not identified any inaterial uncertainlies relatii)g to evenls or conditions that, individually or collectively, may cast sigiiificant doubt oil the charity's ability to Continue as a going conceni for a period of al least twelve months from when the original financial statements were aLlthoi'ised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the i'elevant sections of this report. Other information The trustees are I'espon5ible lor the olher infonnation. The other infonnalion coniprises the information incliided in the annual report, other than the financial statements and our aiiditor's report thereon. Oui. opinion on the financial statements does not cover the othei. information and, except to the extent otl)erwise explicitly stated in our repoi't, we do not expi'ess any forin of assurance Conclusion thereon. Page 5 The Grocott fiamily Charitable Trust Independent Au(litor's Report to the Members of The Grocott Family Chai'itablc Trust In connectioi) with OUT audit of the fiiiaiicial statejnenls, our responsibility is to l'ead the othei. inforniation and, in doii)g so, consider whether the otlier iiifoniiation is inaterially inconsisteiit with the fiiiancial slateiiieiit% or our knowledge oblaiiied in the audit oi. olhei'wisc appears to be materially inisslated. If we identify sucli Inaterial ii)con5iSt¢ncies oi. appai'ent material iiiisstateiiienls, we are I'eqiiired to deterniine whether tliere is a Inatei'ial Illl5Stateineiit in the fiiiancial statemenls or a iiiaterial Inisstateinent of the othei. inforination. If, based on the woi'k we have perforined. we conclude that there is a material misslatemenl or Ihis othei. infoii)iation, we are requii'ed to i'eport that fact. W¢ liave T)Othing lo r¢poit ii) tl)is regard. Opinion on other malter prescribed by the Companies Acl 2006 In our opinion, based on the work undertakcn in th¢ course ofthc audit: th¢ iiifoi'ination given in th¢ Ti'u5tee5' Report foi. the financial year for which the financial statements ar¢ pr¢pai'ed is consistent with tlie financial slaleiiientS- ilV)d the 'l"rustees' Ilepoit lias been prepared in accordaiice with applicable legal requirem¢nt5. Mllttei's 011 Ivhicli ive are required to report by cxceplion lii the liglit of out. knowledge and ui)derstanding of the charity and ils environinent obtained in the coui'se of the audit. we have not identified matei'ial Inisslatemenis in the Trustees, Report. We l)ave nothing to repoit in Itspect of the following matters where the Companies Act 2006 requires Io i'eporl to you if. in oui. opinion.. ad¢quate accounting records have not been kept, or retums adequate for our audit have nol been i'eceived froim branches nol visited by us; or the fiiiancial stateinenls are not iii agreeinent with the accounting records and returns. or ceitain disclosur¢s of trustees remuneration specified by law are not made. or we have not received all the infomiatioii and explanations we require for our audil. Responsibilities of trustees As explained inore fully in (he Slateinent of Rcsponsibilities (Set out on page 3), the trustees are i'esponsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such int¢rnal contt'ol as the trustees deteni)ine is iiccessary to enable the prepai'alion ol financial stateinenls that are free froin Inaterial misslaieinent, whether due lo fraud or errol-. In prepai'ing the financial statement5, the trustees are responsible foi. assessing the cliarity's ability i'o conliniie as a going concern, disclosing, as applicable, matters related to going concern and Usllig the going concern basis of accounting unless the trustees either inlend to liqvidate the charity or to cease operations, or have iio realistic alternative but to do so. Auditor respoll5ibilities for the audit of tlic finaneial statements Oui. objectives are to obtain reasonable assurance about ivhelhei. tlie fmancial stateinenls as a whole are free from matei'ial Inisstateiiient, whether due to fraud or error, and to issue an aiiditor'5 i'eport that includes our opinion. Reasonable assurance is a high level of assiirdnce. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material inisstatenient when it exists. Misslatemenls can arise froin fraud or error and are considered Inalerial if, individually or in the aggregate, they could I'easonably be expected to influence the econoimic decisions of user5 taken on the basis of these financial statements. Page 6 The GroLOtt Family Charitable Trust In(lependent Auditor's Report to the ML'n]bers of The Grocott f4 amily Charitable Trust "rhe extent to which oui. procediire5 are capablc of detecling irregularities, incliiding fraud 1.8 detailed below: We obtained ali understanding of the legal and ￿gUlatOry fraineworks that al'e applicable to this chai'ily and its sectoi. ai)d dcteiinTned that the most significant are ihose relating to the i'epoiting frainework. We uiidei'stood how the charity is complying witli those fraineworks by Inaking eiiquiries of tnanagenienl and those responsible for legal and conipliaiic¢ procedures. As aiidit eiigagemei)t teain, we assessed the susceptibility of Ili¢ charity's finaiicial slaleincnls to Inalerial missl(Iteiiieiit iiicludiiig how fraud Iniglit occur ai)d coiisidered the opportiinities and iiicentives tlial iiiay exist wiihin the charity for fraud. W¢ coiisidei'ed the conti'ols that the chai'ity has Cstablished to addreys the i'isks identified to prevent, deter and deteci fi2ud' and how the i))anagement and trustees monitor tliose conti'ols. Based on oiir Linderstandiiig we designed oiir audit procediires to identify non-coinpliance with law5 and iegulations. Those procedures involved.. enquiries of inanagement dnd those chai'ged with governance. joui'nal enty t¢sting' assessing whetl)er judgements in niakiiig accounliiig eslimates al'e iiidicative of a potential bias. review of financial slateinent disclosures and testinL lo supporting docuinentation to assess ¢oinpliance with applicable laws and regulations. and - evaluating the biisiness rationale of any significant tiznsactions that ale unusual or outside the norinal course of business. Wliere the I'isk was considei'ed co be liighei., we perforined iiudil procedures to addi'ess eaLII idenlified fi'aud risk or oth¢i' I'isk of Inatei'ial inisstateiiient. 'fhese procediiics included IEvei)ue I'ecogniliOiI and iestii)g manual journals aiid were designed to pi'ovide ieasonable assurance that the financial slatemenls were free froin fraud oi. error. We reinained alert to any indications of fraud or non-compliance with laws and regulations throughout the udit. A further description of our responsibilities is available on Il)e Financial Reporting Council's website 8t: www.fi'c.org.uk/auditorsresponsibilities. This description fornis part of our auditor's repoil. Use of oui. report This repoi't is Inade solely to the charitable company's trLlStees, as a body, in accordance with Chapter 3 of Parl 16 of the Coinpanies Act 2006. Oui. audit work has been undertaken so that we might slate to the chai'ity's trustees Ihose matters we are requii'ed to state to thein in an auditor's report and foi. no other puiyose. To the fullest extent pei'initted by law, we do not accept or assuine responsibility lo anyone other ihaii the chai'ilable oinpany and its trustees as a body, foi. our audit work, for this report, oi. foi. the opinions we liave forined. Louise 05sellon FCA (Senior sta￿lory Auditor) Foi. and on behalf of CIISL Accountanls Liinited, Siatutory Auditor Rowan House North l The Professional Quarter Shrewsbuiy Business Park Shi'ewsbuiy Shropshii'e SY2 6LG Date.. Page 7 The Grucott Family Charitablc TJ"ust Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and E4 xi)enditure Account and Statement of Total Recognised Gains and Losses) Unrestricted fuiids Total 2025 Note liieome and Ei ndoivnients li'om: Don... and signed on theii. behalf by: . M Grocott Ti'uslee The notes on pages 10 to 17 form an integral part of these financial statements. Page 9 The Grocott fi ainily ChaR'jtable Trust Notes to the Fillancial Statejnents for the Year Ended 31 March 2025 I Charity stAtIis I'lie chai'ity is liinited by guai'aniee, in¢orpoiated in F.nglaiid and Wales, and consequently does not liave Shal'e capital, bach of th¢ trustees is liable to conlribute an amount not exceeding £10 towai'ds the assels of tlie cliai'ity in tlie event of IiqLiidation. 'rhe address of ils i'egistered office is: Bi'ookdalL Stalioi) Road Pi'ees Sliropshire SY13 2DW 2 Accouiiting policies Sunimary ()f signifieHnt accounting policies and key accoutiling estiniRtVi I"lie pi'ii)cipal accouiiling policies applied iii Ilie pi'cparatioii of ihesc financial slateiiieiils al'e set out below. These policies have been consistently applied to all ilie y¢ars presented, uiiless oiherwise slated. Statement of coinpliance Tlie financial statcinenls have been prepared iii accoi'dance with Accounting and Reporting by Charities: Slalenient of Recominended Practice applicable to charities preparing their accounts in accordance with the Finaiicial Reporting Standai'd applicable in the UK and Republic of Ireland (FRS 102) (elTeclive l Januaiy 2019) - {Charilies SORP (FRS 102)), the Financial Reporting Slandard applicable in the UK and Republic of Irelaiid (FRS 102) and the Coinpanies Act 2006. Basls of preparAtio The CJl'OCOtt Fainily Charitable Ti'ilst meets th¢ definition of a public benefit entity under FRS 102. Assets and labilities are initially recognised at historlcal cost or transaction value unless otliei'wise stated in the i'elevant accounting policy notes. Going concern The ts'uslees consider that therc are no Inalerial uncertainties about the charity's ability to continLie as a going conc¢i-n noi- any significant areas of uncertainty that affeci ihe carrying value of assets held by the charity. Ex¢mption from preparing a ea5h flow statement Tlie charity opted to early adopt Bulletin I published on 2 Februaiy 2016 and have therefoi'e not incliided a cash flow statement in these financial statemeiils. Income and endoivments All incoine is recognised once the charity has enlitlement to the incoille, it is probable that the income will be iiceived and Ihe ￿￿ount of the incoine receivable can be ineasured reliably. Page 10 ThL. Grocott Tr amily Charitable Trust Notes to the FAnancial Statcments for the Year Ended 31 March 2025 Doiiiilioiis nii(I legiicie.$ Doiiatioi)s are I'ccogiiised wlien the charity has been notified in writing of both tlie aiiiount aiid settleinent date. In the eveiit that a doiialion is subject to coiiditions that requii'e a level of pei'toriiiaiiee by the cliai'ity before the charity is elltitled to the funds, Ilie incoine is deferred and nol iecogiii5ed until eithei. Ihose conditions 81'e ftilly I￿et, or the fiiifilinent of tllosc conditions is wholly wilhii) the control of the charity and it is probable Ilial these condilioiis will be fulfilled in the reporting pei'iod. Leg¢lCy gifts al'e reco8nised on a case by case basis following ilie y21)t of probatc when tl)c adininisti'atorlexecutor for the estate has coininunicated in writing both the ainouiit aiid settlement date. In tlie event ihat the gift is in Ihe foriii of an asset o¢h¢r than cash or a financial asset traded on a recogiiiscd slock excl)ange. recognition is subject to tlie valu¢ of Ihe gift being ieliably ineasurable with a degr¢e of rea50nabl¢ acciii'acy ai)d the title to the a55et haviiig becn transf¢ii'ed to the cliarity. ClINrl(Thble ftcllvilies Rcnlal incoine is recognised over each agreed ienancy pei'iod. I xpeiiditure All cxpenditure is recogiii5ed once there is a legal or constniclivc obligation to tliat expenditure, it is pi'obablc settleinent its i'equired and the ainoLint can be ineasured reliably. All costs are allocated to the applicable expendiNre heading that a￿regate siinilar costs to that category. Where cosls cannot be directly atti'ibuted lo paiticulai. headings they have been allocated on a basis consi5tenl willi the use of resoui'ces, with cenli'al staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of th¢ asset's iise. Othei. support COSts arc allocated based on the spread of staff costs. ClINrlluble Aellvilies Charitable expenditure coinprises tliosc Costs incurred by the charity in tlie delivery of ils activities and sei'vices for its beneficiai'ies. It includes boll) costs that can be allocated direLIIy lo sucli activities and those Costs of an indii'ect natiire necessary to support thein. Griiiilprovl,sioii Provisions for grant8 are made wlien the intention lo make a 8rant has been col￿nUnICAted to the recipient but there is unc￿￿aInty about either the timing of the granl or the ainount of grant payable. Suppoi't costs Support costs include centt'al functions and have been allocated to activity Cost categories oii a basis consistent with the use of resources. Governanc¢ ¢05ts These include the costs attributable to the charlty's compliaiice with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reiinburscd expenses. Taxation Tlie chai'iiy is considered to pass the tests set out in Paragraph I Schedule 6 of the FinEtnce Act 2010 and thei'efoi'e it meets the definition of a charitable company for UK corwi'ation t￿ piii'poses. Accordingly, the charity is potenlÉally exempt froni taxation in respect of iiicome or capital gains I'eceived within categories covered by Chapter 3 Part 1 l of the Corporation Tax Act 2010 oi. Section 256 of the Taxation of Chaigeable Gains Act 1992, to the extent that such income or gains are applied ¢xclusively to chai'itable PLirposes. Pagell Tbe Grocott Family Charitable Trust Notes to tlie Financial Statements for the Year Ended 31 Mai'ch 2025 Tangible fixed assets Jiidividual fixed assets al'e inllially recorded at cost, less any subsequent accumulated depreciation and SLibsequ¢nt accumulated iinpaimient losses. Lai)d is iiot dcpreciated. Deprecialion aiid amortisation Depi'ecialioii is cal¢iilated s<) as to w]'ite off th¢ cost oran asset. less its residual value, ovcr the useful econoinic life of thai asset. Firehold land 15 noi depi'eciaied. Assets under construction are not d¢pirciated until tliey al'e brought into use. Asset cl#ss Freehold buildings Fixtui'es and fittings Depi'eciation mctllod and rate 20/0 Straigl)I line 200/fj Straighl line Trade debtors Ti'ade debtoi's are amoiinls due from custoiners for sei'vices perfonned in the ordinary coiirse of business, Ti'ade debiors al-e i'ecognised initially al the transactioii price. They are subsequently nieasured 2t ainoitised cost using ihe effective inlei'est m¢lhod, less provision for iinpaii'ment. A pi'ovision for the iinpairment of ti'ade debtois is established when there 15 objective evidence that the charity will not be able to collect all amount5 due accoi'ding to the original terms of the receivables. CAsh and cash equivalents Cash aiid cash ¢quivalents comprise cash on lland and call deposits, and other shoil-teiin liighly liquid investments that are readily convertible to a known aniount of casli and ait subject to an insignificant i'isk of change in value. Ti'ade credit4)rs Ti'ade creditors are obligations to pay for good5 or services that have been acquired in tlie ordinai'y course of business froin suppliers. Accounts payable are classified as currenl liabililies if tlie chai'ity does not have an unconditional right. at the end of tlie repoiting period, 10 defer settleineiit of the creditor foi. at leasl twelve Lnonths after the repoiting date. If there is an unconditional r￿￿t to defei. settleiiient for at least twelve Inontlis after the repoiting date. they are presented as non-current liabilities. Trade creditoi's are recognised initially at ihe transaction price and subsequently Ineasured at ainortised cost using the effective int¢￿st method. Fund Structure Unresti'icted iiicome ￿ndS are general funds that are available ftjr use at the trustees discretion in furtherance of the objectives of the charity. Pa8e 12 The Grocott Family Charitable Trust Notes to the fi iiiancial Statements for the Year nded 31 March 2025 3 liicome fi'oin donations lega¢ies Unrestricted funds General Total 2025 Total 2024 Donations aiid legacies. DonalioThs froiii individuals Legacies 5.674 869,514 5,674 869,514 3,331 875.188 875,188 3.331 4 Income from eharitable activities Unresti'icted funds General TotAI 2025 Total 2024 Provision of affordable rei)lal properties for older people & local community lacilities 49,934 49,934 48,416 5 Otlier income Unrestriclcd funds General Total 2025 Tolxl 2024 Oiher incoine - RHI receipts 734 734 493 O Ci xpenditui'e on ¢haYitable activities Unrestricted funds Gcn¢ral Total 2025 Total 2024 Note Depreciation, ainortisation and other siinilar costs Grant funding of activities Allocated support costs Governance costs 36,594 43,270 7.383 900 36,594 43,270 7,383 900 36,019 11,856 7,155 625 88,147 88.147 55,655 Page 13 The Gi'ocott Family Charitable Trust Notes to the f4inancial Statements for the Year fi nded 31 March 2025 7 Analysis of governatjce and suppoyt costs Supi)oi't Costs allucated to charitable activities Premises eosts Administration including costs depreciation Tolal 2025 Total 2024 Basis of allocation Rates Light, heat and power Insiirance Repair.$ and Inaintenance Office expenses Advertising Legal and pi'ofessional fees Bank charges 40 731 1,602 4,207 loo% 565 ,073 4,485 565 1,673 4,485 290 125 35 210 290 125 35 210 I OOO/o I OOO/o 340 235 660 6,723 7,383 7,155 Governaiice cost5 Unrestricted funds General Total 2025 Total 2024 Aiidit fees Audit of the financial statements Independent exaininer fees Exainination of the financial 5tateEnents 900 900 625 900 900 625 8 Trustees i-einuneration and expell5es No tTUStees, nor any per3ons connected with theiii, have received any remunerdlion from the charity dui'ing the y¢ai'. No Irustees have received any reimbursed expenses or any other beiiefits from the charity during the year. Page 14 The G'rocott Family Charitable Trust Notes to thL Fitnancial Statements for the Yeai. E4 nded 31 March 2025 9 Independeiit exnniinei's remuner#tion 2024 Examii)#tion of the finaiicial 51atemenls 625 10 Auditors, i'emiineration 2025 Aiidit of the financial statements 900 I l Taxation The charity is a I'egisiered charity and is therefore exeinpt froin taxatioi). 12 Tangibl¢ fixed assets Land and buildings Furniture and equipmeiit Total Cost At l Api'il 2024 Additions 1,826,087 283,720 985 16,750 1,827,072 300,470 At 31 March 2025 2,109,807 17,715 2,127,542 Depreeiatioii At l Api'il 2024 Chai'gc for tlie year 268,849 35,822 772 772 269,621 36,594 At 31 March 2025 304,671 1,544 306,215 Net book value At 31 March 2025 1,805,136 16.191 1,821,327 At 31 Mai'ch 2024 1.557.238 213 1,557,451 13 Debtors 2025 2024 Ti'ade debtors Pi'epayinents 3,498 284.435 2.951 683 287.933 3,634 Page 15 The Grocolt Family Charitable Trust Notes to the Financial Statements for the Year Ei nded 31 Mai'ch 2025 14 Creditors: amounts falllng diie within one year 2025 2024 Ti'ade creditors V AT gi'ant I'epayable Olhei. cieditOlS Accrlials 164 162 666 378 192 4,418 3,446 5,440 4,177 15 Funds BAlance at I April 2024 InLoming re50urce5 Resources expended Balance at 31 MArch 2025 Uiiresti'icted funds General 1,864,732 2,702,441 Balmnee at I April 2023 Incoming resources Resources expended Balance at 31 Mareh 2024 Uiii'e5tricted (iinds Genei'al 1.868.147 52,240 1,864,732 16 Aiialysis of net assets between funds Unreslricted fund5 Genei'al Total funds at 31 Marcli 2025 Tangible fixed assets Cui'rent assets CIiiTenl liabilities 1.821.327 886,554 (5,440) 1,821,327 886,554 5,440) Total net assets 2,702,441 2,702,441 Uni'estricted rund Geiieral Total fund5 at 31 March 2024 Tangible fixed assets Current assets Current liabilities 1,557,451 311,458 (4,177) ,557,451 311,458 (4,177) Total net assets 1,864,732 1,864,732 Page 16 Tlie Gi'ocott Family Charitable Trust Notes to the Financial Statcinents for the Year Ei niled 31 Mai'cb 2025 17 Related PAI'ty trmnsaetions Diii'ing the yeai. the charity Inade the following related paity trdnsactioiis: Gi'ocott Develoi)ment5 Liinitcd (The Ti-uslees ai'¢ also directoi's of Grocott Developments Liinited) At tlie balatLce slieet date the ainount due to Cirocott Developinents Limited was £90 (2024 - £90). 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