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← Gardiner Hill Foundation

2024-03-31-accounts

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 2024

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

GARDINER HILL FOUNDATION

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees G W Baker (resigned 17 April 2024)
N J Coulbeck
P R Darby (appointed 1 August 2023)
J D Ellis
G E Hobson
J E Keen (appointed 8 May 2024)
K E Kinch
S S Leafe (resigned 6 December 2023)
E J Lewington, Chair
A Quickfall (resigned 17 April 2024)
L J Richards
K M J Teakle (resigned 21 April 2024)
E Walsh (appointed 12 June 2024)
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
Accountants
Streets LLP
Chartered Accountants
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
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 2024

The trustees present their annual report together with the audited financial statements of the charity for the 1 April 2023 to 31 March 2024. 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 have a broad set of priorities for the charity. Whilst these priorities include Housing, Employment and Education the work of the charity is not limited to these areas and the charity will consider any application for support that meets its objects.

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 social media presence that it uses to raise awareness of its fund raising activities, the availability of support and to share anonymised stories of those who have benefitted from the charities’ work.

The charity has an annual plan setting out a programme of fund raising activities that it aims to complete in order to secure additional funding for its work. 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 Navigo and Nurtrio service users and their carers. The charity also oversees the approval of grants from its restricted funds – these are funds where money has been donated to the charity to provide support within a particular part of Navigo’s services. We also work with other local charities who will consider applications for individual service users where these have already been approved by Gardiner Hill.

The charity continually looks to expand publicity and marketing around the levels and types of grant available.

The charity sets an annual budget for the level of grants that can be made and reviews this in year in light of the success of individual fund raising initiatives.

Page 2

GARDINER HILL FOUNDATION

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

2023/24 saw significant fund raising activity from the charity as a result of being designated Charity of the Year at Market Rasen racecourse. Volunteers and Trustees supported 22 race meetings over the year engaging with race goers, raising the profile of the charity and securing donations.

Financial Review

Results for the Year

The charity has generated total incoming resources in the year of £63,271 (2023 - £56,377) being a mixture of grants and donations, income from funraising activities and interest earned on the loan to NAViGO.

Total expenditure in the year was £68,084 (2023 - £49,572) which includes total grants paid of £40,936 (2023 - £35,493).

Overall, net resouces expended for the year were £4,813 (2023 - net incoming resources of £6,805) resulting in a decrease in total funds from £601,331 to £596,518. Of the total funds, £334,632 (2023 - £359,014) are for restricted purposes including Project for the Year of £198,950 (2023 - £200,000) and Gary Jordan Award for Nursing Bursaries of £106,000 (2023 - £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 which 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 2024

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:-

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. Our Articles of Association were amended at a Trustees Meeting in 2023 to increase from two to four the number of people that could be appointed by Trustees from the local community or local commissioning. The Board of Trustees has also approved updated Standing Financial Instructions and approved a risk register.

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 2024

Future Developments

Plans for the Future

Over the next year, the charity wishes to continue awareness and fund raising 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, implementing our agreed annual plan. The charity will continue to ensure that all funding routes are explored for applications from our service users, an approach that has brought particular success over the last 18 months through Navigo’s close work with the local Council.

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. The charity also continues to hold funds donated by Navigo to support the education and training of staff seeking to qualify as a health professional. The charity will continue to work with Navigo on the allocation of these funds to individual staff members.

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:

Page 5

GARDINER HILL FOUNDATION

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

Approved by order of the members of the board of trustees on 22 August 2024 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 2024

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 2024.

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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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 2024

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: 27 August 2024

Robert Anderson

FCA

Streets LLP 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 2024

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
2024
£
25,293
24,942
6,195
56,430
23,727
12,537
36,264
20,166
242,317
20,166
262,483		 Restricted
funds
2024
£
6,841
-
-
6,841
-
31,820
31,820
(24,979)
359,014
(24,979)
334,035		 Total
funds
2024
£
32,134
24,942
6,195
63,271
23,727
44,357
68,084
(4,813)
601,331
(4,813)
596,518		 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

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 2024

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		 165,417
16,600
429,806
611,823
(15,305)		 2024
£
596,518
596,518
596,518
596,518		 173,000
20,922
427,142
621,064
(19,733)		 2023
£
601,331
601,331
601,331
601,331

Page 10

GARDINER HILL FOUNDATION (A company limited by guarantee) REGISTERED NUMBER: 07804290

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024

Note
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 2024
£
334,035
262,483
596,518		 2023
£
359,014
242,317
601,331

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 22 August 2024 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 2024

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

Trade and 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 2024

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.

Page 13

GARDINER HILL FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3. Income from donations and legacies

Unrestricted
funds
2024
£
Donations
25,293
Total 2023
6,313		 Restricted
funds
2024
£
6,841
37,056		 Total
funds
2024
£
32,134
43,369		 Total
funds
2023
£
43,369

4. Income from other trading activities Income from fundraising events

Unrestricted
funds
2024
£
Racecourse Partnership
18,160
Caravan Rental
6,782
24,942
Total 2023
6,562		 Total
funds
2024
£
18,160
6,782
24,942
6,562		 Total
funds
2023
£
-
6,562
6,562

Page 14

GARDINER HILL FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Investment income

Unrestricted
funds
2024
£
Loan Interest Received
6,195
Total 2023
6,446		 Total
funds
2024
£
6,195
6,446		 Total
funds
2023
£
6,446

6. Expenditure on raising funds Costs of undertaking fundraising activities

Unrestricted
funds
2024
£
Donation Website Subsciptions
216
Caravan Costs
9,401
Racecourse Partnership
14,110
23,727
Total 2023
9,337		 Total
funds
2024
£
216
9,401
14,110
23,727
9,337		 Total
funds
2023
£
216
9,121
-
9,337

Page 15

GARDINER HILL FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Analysis of expenditure on charitable activities Summary by fund type

Unrestricted
funds
2024
£
Assistance for Vulnerable People
12,537
Total 2023
20,285
8.
Analysis of expenditure by activities
Grant
funding of
activities
2024
£
Assistance for Vulnerable People
40,936
Total 2023
35,493
Analysis of support costs
Insurance
Printing
Advertising
Other Costs
Governance Costs		 Restricted
funds
2024
£
31,820
19,950
Support
costs
2024
£
3,421
4,742		 Total
2024
£
44,357
40,235
Total
funds
2024
£
44,357
40,235
Total
funds
2024
£
799
31
500
705
1,386
3,421		 Total
2023
£
40,235
Total
funds
2023
£
40,235
Total
funds
2023
£
755
69
1,603
1,055
1,260
4,742

Page 16

GARDINER HILL FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of grants

Grants to
Individuals
2024
£
Grants
40,936
Total 2023
35,493
Independent examiner's remuneration
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts		 Total
funds
2024
£
40,936
35,493
2024
£
1,386		 Total
funds
2023
£
35,493
2023
£
1,260

10. Independent examiner's remuneration

11. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, no trustee expenses have been incurred (2023 - £NIL) .

12. Debtors

Due after more than one year
Other debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
165,417
2024
£
9,017
7,583
-
16,600		 2023
£
173,000
2023
£
2,000
7,322
11,600
20,922

Page 17

(A company limited by guarantee)

GARDINER HILL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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
Amounts released from previous periods
Deferred income at 31 March		 2024
£
431
14,388
486
15,305
2024
£
1,435
-
(1,235)
200		 2023
£
1,390
12,802
5,541
19,733
2023
£
200
1,235
-
1,435

At the year-end, the charity has received payments in advance for the rental of the caravan.

Page 18

GARDINER HILL FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2023
£
242,317
23,514
200,000
135,500
359,014
601,331		 Income
£
56,430
6,841
-
-
6,841
63,271		 Expenditure
£
(36,264)
(1,270)
(1,050)
(29,500)
(31,820)
(68,084)		 Balance at
31 March
2024
£
262,483
29,085
198,950
106,000
334,035
596,518

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 2024

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 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

15. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 Balance at 1
April 2023
£
242,317
359,014
601,331		 Income
£
56,430
6,841
63,271		 Expenditure
£
(36,264)
(31,820)
(68,084)		 Balance at
31 March
2024
£
262,483
334,035
596,518

Page 20

GARDINER HILL FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Summary of funds (continued) Summary of funds - prior year

Balance at
Balance at 31 March
1 April 2022 Income Expenditure 2023
£ £ £ £
General funds 252,618 19,321 (29,622) 242,317
Restricted funds 341,908 37,056 (19,950) 359,014
594,526 56,377 (49,572) 601,331
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Debtors due after more than one year 165,417 - 165,417
Current assets 112,371 334,035 446,406
Creditors due within one year (15,305) - (15,305)
Total 262,483 334,035 596,518
Analysis of net assets between funds - prior period
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

16. Analysis of net assets between funds Analysis of net assets between funds - current period

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GARDINER HILL FOUNDATION (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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, Navigo agreed donations to the charity of £19,017 (2023 - £31,545) of which £9,017 (2023 - £nil) was outstanding at the year-end and included in trade debtors. In addition, the charity received loan interest from Navigo of £6,195 (2023 - £6,446).

During a previous year, the charity made a loan to Navigo. The total balance outstanding at the year-end is £173,000 (2023 - £180,322) 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.

During the year, the charity received net invoices from Navigo for grants and other expenses incurred on its behalf totalling £7,132 (2023 - £6,290). At the balance sheet date, £211 (2023 - £1,016) was due to Navigo which is included in trade creditors.

At the balance sheet date, recharges for grants and other expenses of £87 (2023 - £755) were outstanding which are included in accruals.

In addition, the charity is holding funds received on behalf of Navigo of £12,198 (2023 - £12,577) which is included in other creditors.

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