Registered number: 07804290 Charity number: 1146433
GARDINER HILL FOUNDATION (A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
GARDINER HILL FOUNDATION
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 - 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 - 11 |
| Notes to the financial statements | 12 - 22 |
(A company limited by guarantee)
GARDINER HILL FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | G W Baker |
|---|---|
| N J Coulbeck | |
| P R Darby (appointed 1 August 2023) | |
| J D Ellis | |
| G E Hobson | |
| K E Kinch | |
| S S Leafe | |
| E J Lewington, Chair | |
| A Onley (resigned 5 July 2022) | |
| A Quickfall | |
| L J Richards | |
| K M J Teakle (appointed 28 November 2022) | |
| A L Wilson (appointed 1 August 2023) | |
| Company Registered Number 07804290 Charity Registered Number 1146433 Registered Office Navigo House Brighowgate Grimsby North East Lincolnshire DN32 0QE Independent Auditors Streets Audit LLP Chartered Accountants and Statutory Auditor Halifax House 30 George Street Hull HU1 3AJ Bankers The Co-operative Bank plc PO Box 101 1 Balloon Street Manchester M60 4EP |
Page 1
GARDINER HILL FOUNDATION
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report together with the audited financial statements of the charity for the 1 April 2022 to 31 March 2023. The trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Objectives and Activities
Policies and Objectives
The charity's objects are specifically restricted to the following: the advancement of health and the relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.
Strategies for Achieving Objectives
The trustees set the following priorities for the charity - Housing, Employment and Education.
It was agreed that through the awarding of grants to increase the opportunity of those included in the objects gaining Housing, Employment or Education would ultimately serve to achieve the objects in the most efficient and effective way.
Activities for Achieving Objectives
Publishing information leaflets and other literature about the opportunity of applying for grants and passing information to vulnerable individuals via health professionals within NAViGO Health and Social Care CIC ("NAViGO"). The charity has a presence at local retailers and takes part in local events and promotions to widen knowledge and understanding of the work they do.
Grant Making Policies
The charity invites grant applications from service users, carers or organisations who are able to evidence that a grant would assist in achieving the charity’s objects as laid out in the constitution and the priorities of the charity as listed above.
The charity continually looks to expand publicity and marketing around the levels and types of grant available and is always looking to increase the volume of applications received and processed as finance dictates.
Page 2
GARDINER HILL FOUNDATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Achievements and Performance
Going Concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Review of Activities
The use of the static caravan that was purchased several years ago has continued with the site being open for a full season.
The foundation has continued to receive loan repayments in the year from NAViGO in accordance with the terms of the loan agreement for the purchase of Grimsby Garden Centre. This loan repayment gives the charity an annual income stream and enabled the purchase of a Garden Centre which will significantly impact on Training, Education and Employment opportunities for Service Users as well as securing the long term financial sustainability of the charity.
Financial Review
Results for the Year
The charity has generated total incoming resources in the year of £56,377 (2022 - £237,842) being a mixture of grants and donations, caravan rentals and interest earned on the loan to NAViGO. The main income received in the year were donations from NAViGO totalling £31,545.
Total expenditure in the year was £49,572 (2022 - £34,298) which includes total grants paid of £35,493 (2022 - £22,869).
Overall, net incoming resouces for the year were £6,805 (2022 - £203,544) resulting in an increase in total funds from £594,526 to £601,331. Of the total funds, £359,014 (2022 - £341,908) are for restricted purposes including Project for the Year of £200,000 and Gary Jordan Award for Nursing Bursaries of £135,500.
Reserves Policy
The charity has established and maintained a number of earmarked reserves to run alongside the general reserve. The charity is the chosen partner of NAViGO and as such when any bequests or donations are made to NAViGO services, these are passed directly to the charity. Where the donor has requested that the funds be used for a specific purpose, this is honoured by the charity and placed into earmarked reserves. These reserves can then only be utilised upon specific request.
Principal Funding
The work of the charity is predominantly reliant on the income contribution made from NAViGO, who has recognised the Gardiner Hill Foundation as their chosen charity.
Page 3
GARDINER HILL FOUNDATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Structure, Governance and Management
Constitution
The charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 10 October 2011. The charity is also a registered charity with the charity registration number 1146433.
The charity takes its name from a local doctor, born in Louth, Lincolnshire who championed the rights of people with mental health problems in the 1800s. Dr Robert Gardiner Hill is widely credited with being the first superintendent of a small asylum to develop treatments which did not rely on mechanical restraint and coercion, something he finally achieved in 1838.
Method of Appointment or Election of Trustees
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.
Organisational Structure and Decision Making
At the time of these accounts, the charity does not directly employ any staff.
The constitution of the charity board is listed within the terms of the Articles of Association, but for clarity in respect of the Accounts the trustees are:-
-
The Chair of NAViGO.
-
Up to four shareholders of NAViGO.
-
Up to four community members of NAViGO.
-
Up to two persons appointed by the Trustees (if possible) from the local community and local commissioning.
Trustees hold office for three years from the date of appointment at the end of which they shall be eligible for reappointment for one or more further three years each unless those persons appointed from NAViGO cease their NAViGO positions in which case they shall automatically cease to be a trustee.
Quorum necessary for the transaction of business of the trustees shall be three trustees. Questions arising at any trustees meeting shall be decided by a majority of votes. In the case of equality of votes the chairman of the meeting shall have a second or casting vote. As well as adopting the Articles of Association, at the trustees meeting of 7 February 2012, the trustees adopted the Standing Financial Instructions and Contract Procedure Rules of the charity which govern how financial transactions decisions are made.
Risk Management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Page 4
GARDINER HILL FOUNDATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Future Developments
Plans for the Future
Over the next year, the charity wishes to continue awareness work in the local community. It is important to the trustees that the charity becomes lasting testimony to the name of the Gardiner Hill family who have roots locally. The charity’s priorities remain focussed on the advancement of health and the relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage.
The trustees will continue to focus on both income generation and charitable grant awards, with new fundraising activities expected alongside an increase in grant applications and awards.
The charity continues to hold funds from donations made by NAViGO and looks forward to supporting new projects that NAViGO wishes to embark upon in future years.
TRUSTEES' RESPONSIBILITIES STATEMENT
The trustees (who are also directors of Gardiner Hill Foundation for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 5
GARDINER HILL FOUNDATION
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
DISCLOSURE OF INFORMATION TO AUDITORS
Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:
-
so far as that trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware; and
-
that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information.
Approved by order of the members of the board of trustees on 8 November 2023 and signed on their behalf by:
E J Lewington Chair
Page 6
GARDINER HILL FOUNDATION (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023
Independent examiner's report to the trustees of Gardiner Hill Foundation ('the charity')
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 7
GARDINER HILL FOUNDATION (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.
Signed:
Dated: 21 December 2023
Robert Anderson
FCA
Tower House Lucy Tower Street Lincoln LN1 1XW
Page 8
GARDINER HILL FOUNDATION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 3 Other trading activities 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 6,313 6,562 6,446 19,321 9,337 20,285 29,622 (10,301) 252,618 (10,301) 242,317 |
Restricted funds 2023 £ 37,056 - - 37,056 - 19,950 19,950 17,106 341,908 17,106 359,014 |
Total funds 2023 £ 43,369 6,562 6,446 56,377 9,337 40,235 49,572 6,805 594,526 6,805 601,331 |
Total funds 2022 £ 226,263 4,890 6,689 237,842 |
|---|---|---|---|---|
| 7,464 26,834 34,298 |
||||
| 203,544 | ||||
| 390,982 203,544 594,526 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 22 form part of these financial statements.
Page 9
GARDINER HILL FOUNDATION (A company limited by guarantee) REGISTERED NUMBER: 07804290
BALANCE SHEET AS AT 31 MARCH 2023
| Note Current assets Debtors: amounts falling due after more than one year 12 Debtors: amounts falling due within one year 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets |
173,000 20,922 427,142 621,064 (19,733) |
2023 £ 601,331 601,331 601,331 601,331 |
180,322 13,209 418,550 612,081 (17,555) |
2022 £ 594,526 |
|---|---|---|---|---|
| 594,526 | ||||
| 594,526 | ||||
| 594,526 |
Page 10
GARDINER HILL FOUNDATION (A company limited by guarantee) REGISTERED NUMBER: 07804290
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023
| Note Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
2023 £ 359,014 242,317 601,331 |
2022 £ 341,908 252,618 |
|---|---|---|
| 594,526 |
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees on 08 November 2023 and signed on their behalf by:
E J Lewington Chair
The notes on pages 12 to 22 form part of these financial statements.
Page 11
GARDINER HILL FOUNDATION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
Gardiner Hill Foundation (the charity) is a limited company by guarantee incorporated in England and Wales and a registered charity. The charity's registered office is at Navigo House, Brighowgate, Grimsby, North East Lincolnshire, DN32 0QE. The charity's principal activity is the undertaking of projects and giving of grants for the assistance of vulnerable people.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Gardiner Hill Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The charity has a single activity being the provision of assistance to vulnerable people.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in activities that raise funds.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the grant is paid on the grounds that the charity has no commitment until such time that the expense is incurred.
All expenditure is inclusive of irrecoverable VAT.
2.4 Debtors
Other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Page 12
GARDINER HILL FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.5 Cash at bank and in hand
Cash at bank and in hand represents the charity's current account facility and petty cash.
2.6 Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.7 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Donations Total 2022 |
Unrestricted funds 2023 £ 6,313 29,527 |
Restricted funds 2023 £ 37,056 196,736 |
Total funds 2023 £ 43,369 226,263 |
Total funds 2022 £ 226,263 |
|---|---|---|---|---|
Page 13
GARDINER HILL FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
4. Income from other trading activities
Income from fundraising events
| Caravan Rental Total 2022 Investment income Loan Interest Received Total 2022 |
Unrestricted funds 2023 £ 6,562 4,890 Unrestricted funds 2023 £ 6,446 6,689 |
Total funds 2023 £ 6,562 4,890 Total funds 2023 £ 6,446 6,689 |
Total funds 2022 £ 4,890 |
|---|---|---|---|
| Total funds 2022 £ 6,689 |
|||
5. Investment income
Page 14
GARDINER HILL FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2023 £ Donation Website Subsciptions 216 Caravan Costs 9,121 9,337 Total 2022 7,464 |
Total funds 2023 £ 216 9,121 9,337 7,464 |
Total funds 2022 £ 216 7,248 7,464 |
|---|---|---|
7. Analysis of expenditure on charitable activities
Summary by fund type
| Assistance for Vulnerable People Total 2022 |
Unrestricted funds 2023 £ 20,285 23,461 |
Restricted funds 2023 £ 19,950 3,373 |
Total 2023 £ 40,235 26,834 |
Total 2022 £ 26,834 |
|---|---|---|---|---|
Page 15
GARDINER HILL FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Analysis of expenditure by activities
| Assistance for Vulnerable People Total 2022 |
Grant funding of activities 2023 £ 35,493 22,869 |
Support costs 2023 £ 4,742 3,965 |
Total funds 2023 £ 40,235 26,834 |
Total funds 2022 £ 26,834 |
|---|---|---|---|---|
Analysis of support costs
| Insurance Printing Advertising Other Costs Governance Costs |
Total funds 2023 £ 755 69 1,603 1,055 1,260 4,742 |
Total funds 2022 £ 723 81 1,691 330 1,140 3,965 |
|---|---|---|
Page 16
GARDINER HILL FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
9. Analysis of grants
| Grants to Individuals 2023 £ Grants 35,493 Total 2022 22,869 10. Independent examiner's remuneration Fees payable to the charity's independent examiner for the independent examination of the charity's annual accounts 11. Trustees' remuneration and expenses |
Total funds 2023 £ 35,493 22,869 2023 £ 1,260 |
Total funds 2022 £ 22,869 |
|---|---|---|
| 2022 £ 1,140 |
||
During the year, no trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 March 2023, no trustee expenses have been incurred (2022 - £NIL) .
12. Debtors
| Due after more than one year Other debtors Due within one year Trade debtors Other debtors Prepayments and accrued income |
2023 £ 173,000 2023 £ 2,000 7,322 11,600 20,922 |
2022 £ 180,322 |
|---|---|---|
| 2022 £ - 7,071 6,138 |
||
| 13,209 |
Page 17
GARDINER HILL FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
13. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income Deferred income at 1 April Resources deferred during the year Deferred income at 31 March |
2023 £ 1,390 12,802 5,541 19,733 2023 £ 200 1,235 1,435 |
2022 £ 3,078 12,827 1,650 |
|---|---|---|
| 17,555 | ||
| 2022 £ 200 - |
||
| 200 |
At the year-end, the charity has received payments in advance for the rental of the caravan.
Page 18
(A company limited by guarantee)
GARDINER HILL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Statement of funds
Statement of funds - current year
| Unrestricted Funds General Funds Restricted Funds Donations Project of the Year Gary Jordan Award - Nurse Bursary Total of Funds |
Balance at 1 April 2022 £ 252,618 18,408 200,000 123,500 341,908 594,526 |
Income £ 19,321 7,056 - 30,000 37,056 56,377 |
Expenditure £ (29,622) (1,950) - (18,000) (19,950) (49,572) |
Balance at 31 March 2023 £ 242,317 |
|---|---|---|---|---|
| 23,514 200,000 135,500 359,014 |
||||
| 601,331 |
Unrestricted Funds:
General Funds:
General Funds represents resources which may be used towards meeting any of the objects of the charity at the discretion of the trustees. These have not been designated for particular purposes.
Restricted Funds:
Donations:
The charity has received a number of donations for which the donor has expressed a wish for the money to be spent on specific aspects of the charity's operations. The charity monitors the use of these donations to ensure the donors' wishes are met.
Project of the Year:
The charity has received donations from Navigo Health and Social Care CIC in support of a neuropsychiatry project of the year.
Gary Jordan Award - Nurse Bursary:
The charity received a donation from Navigo Health and Social Care CIC for the Gary Jordan Award to support the payment of nursing bursary payments.
Page 19
GARDINER HILL FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted Funds General Funds Restricted Funds Donations Project of the Year Gary Jordan Award - Nurse Bursary Total of Funds |
Balance at 1 April 2021 £ 242,437 19,331 129,214 - 148,545 390,982 |
Income £ 41,106 950 70,786 125,000 196,736 237,842 |
Expenditure £ (30,925) (1,873) - (1,500) (3,373) (34,298) |
Balance at 31 March 2022 £ 252,618 |
|---|---|---|---|---|
| 18,408 200,000 123,500 341,908 |
||||
| 594,526 |
15. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 April 2022 £ 252,618 341,908 594,526 |
Income £ 19,321 37,056 56,377 |
Expenditure £ (29,622) (19,950) (49,572) |
Balance at 31 March 2023 £ 242,317 359,014 601,331 |
|---|---|---|---|---|
Page 20
GARDINER HILL FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
15. Summary of funds (continued) Summary of funds - prior year
| Balance at | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | 31 March | ||||||||
| 1 April 2021 | Income | Expenditure | 2022 | ||||||
| £ | £ | £ | £ | ||||||
| General funds | 242,437 | 41,106 | (30,925) | 252,618 | |||||
| Restricted funds | 148,545 | 196,736 | (3,373) | 341,908 | |||||
| 390,982 | 237,842 | (34,298) | 594,526 | ||||||
| Analysis of net assets between funds | |||||||||
| Analysis of net assets between funds | - current year | ||||||||
| Unrestricted | Restricted | Total | |||||||
| funds | funds | funds | |||||||
| 2023 | 2023 | 2023 | |||||||
| £ | £ | £ | |||||||
| Debtors due after more than one year | 173,000 | - | 173,000 | ||||||
| Current assets | 89,050 | 359,014 | 448,064 | ||||||
| Creditors due within one year | (19,733) | - | (19,733) | ||||||
| Total | 242,317 | 359,014 | 601,331 | ||||||
| Analysis of net assets between funds | - prior year | ||||||||
| Unrestricted | Restricted | Total | |||||||
| funds | funds | funds | |||||||
| 2022 | 2022 | 2022 | |||||||
| £ | £ | £ | |||||||
| Debtors due after more than one year | 180,322 | - | 180,322 | ||||||
| Current assets | 89,851 | 341,908 | 431,759 | ||||||
| Creditors due within one year | (17,555) | - | (17,555) | ||||||
| Total | 252,618 | 341,908 | 594,526 | ||||||
16. Analysis of net assets between funds Analysis of net assets between funds - current year
Page 21
(A company limited by guarantee)
GARDINER HILL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
17. Related party transactions
NAViGO Health & Social Care CIC ("Navigo")
Navigo is a company in which some of the trustees are directors.
During the year, the charity received donations from Navigo of £31,545 (2022 - £220,786). In addition, the charity received loan interest from Navigo of £6,446 (2022 - £6,689).
During the year, the charity received net invoices from Navigo for grants and other expenses incurred on its behalf totalling £6,290 (2022 - £23,127). At the balance sheet date, £1,016 (2022 - £148) was due to Navigo which is included in trade creditors.
At the balance sheet date, recharges for grants and other expenses of £755 (2022 - £242) were outstanding which are included in accruals.
In addition, the charity is holding funds received on behalf of Navigo of £12,577 (2022 - £12,277).
During a previous year, the charity made a loan to Navigo. The total balance outstanding at the year-end is £180,322 (2022 - £187,393) which is included within other debtors due within one year and more than one year. The loan is secured, interest charged at 3.5% and is repayable in equal monthly installments.
Page 22