The Gumay Fund Rwl¥torod Company numborOB542702
Tho Gumgy Fund Reg1Stored Charlty numbar 1156903
Tho Gumey B8n8vol•nt Fund R•gistgred Charity numbor 1156903.2
THE
GURNEY
FUND
-.1
TRUSTEES. REPORT AND AUDITED GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Ililil Mt-
The Gurney Fund.. a Company Llmltsd by Guarantee reglstered England and Wales
Regislralon No.. 08542702 R89Sst8r8d Charity No- 1156903
R8glster8d Offic8'. g Bath Road, Wothing, West Sussex BN113NU
##
||||Page|
|---|---|---|---|
|Legal and administrative
details||||
|Chairman's|report on behalf ofthe|Trustees|2 to 9|
|Independent|Auditor's
report||10to 13|
|Consolidated|Statement
of Financial|Activities||
|Consolidated|Balance Sheet||15|
|Chanty Balance Sheet|||16|
|Consolidated|Cash Flow Statement||17|
|Notes to the|Financial Statements||18to 29|
##
|The Gurney|Fund is administered|by:||||||
|---|---|---|---|---|---|---|---|
|Chairman||P Upham|Retired||August 2020|||
|||T Packham|Appointed|||Chairman|August 2020|
|Treasurer||D Richards||||||
|Managing|Trustees|0Abercrombie||||||
|and Directors||3 Apter||||||
|||M Brunning||||||
|||P Campbell|Retired||May 2021|||
|||3 Carter-Lang|Appointed|||August 2021||
|||3 Gilmer||||||
|||L Hutson||||||
|||S3ohnson||||||
|||P Land|Retired||May 2021|||
|||I Simmons|Appointed|||November|2020|
|||M Tyler|Appointed|||November|2020|
|||M Warnes|Appointed|||August 2021||
|Fund Manager||Miss C McNicol||||||
|Registered|Office|9 Bath Road||||||
|||Worthing||||||
|||West Sussex||||||
|||BN11 3NU||||||
|||Teh 01903237256||||||
|||Web Site: www. gurneyfund.||||org||
|Bankers||Lloyds Bank|Pic|||||
|||41-43 South|Street|||||
|||Worthing||||||
|||West Sussex||||||
|||BN11 3AU||||||
|Chartered|Accountants|Kreston Reeves LLP||||||
|and Statutory Auditor||9 Donnington|Park|||||
|||85 Birdham
Road||||||
|||Chichester||||||
|||West Sussex||||||
|||PO20 7A3||||||
|Investment|Managers|Charles Stanley &Company||||Limited||
|||Windsor
House||||||
|||6 - 10Mount|Ephraim|House||||
|||Tunbridge
Wells||||||
|||Kent||||||
|||TN1 1EE||||||
|Sollcltol'||Appointment|pending|||||
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||||||Unrestricted|funds||||
|---|---|---|---|---|---|---|---|---|---|
|||||Note||||2021|2020|
||||||General|Designated|Restricted|Total|Total|
||||||6|||6|6|
|Income||||||||||
|Donations
and legacies|||||234,486|||234,486|242,426|
|Income from investments|||||161,528||10,369|171,897|233014|
|Total Income|||||396,014||10~369|406~383|475440|
|Expenditure||||||||||
|Raising funds - investment||manager|costs||40,711||2,037|42,748|46,276|
|Charitable
activities||||4|955,058|||955,058|881,052|
|Total expenditure|||||995,769||2,037|997,806|927,328|
|Net realised gains/(loss)
on||investments|||78,393|||78,393|39177|
|Net unrealised
gains/(loss)||on investments||||1,670,620|40'979|1~71I 599|(1021398)|
|Net income/(expenditure)|||||(521362)|1~670'620|4931I|1198569|(1434109)|
|Transfers between|funds||||10,579||(10,579)|||
|Net movement
in|funds||||(510783)|Ig670~620|38732|1198~569|(1434109)|
|Reconciliation
of|funds:|||||||||
|Total funds brought|forward||||4~727g168|2~440 088|353~591|7g520~847|8954956|
|Total funds carried forward|||||4~216~385|4110~708|392~323|8~719416|7520847|
##
##
|AT31MARCH 20||1||||||Company
number
Charity numbers|Company
number
Charity numbers|Company
number
Charity numbers|08542702
115690381156903-2||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes|||2021I|||2020
6|
|Fixed assets|||||||||||||
|Freehold
property|||||||||400,000|||400 DOO|
|Investments|||||||||||||
|Listed investments|at||market value|||||8,133,916|||6|751,697|
|Current assets||||||||8,533,916|||7,151,697||
|Sundry
debtors|||||||39,793||||48640||
|Cash at bank and
in||hand|||||51,051||||25986||
|Deposit accounts|||||||102,811||||301,811||
|Stockbrokerincome||account|||||||||||
||||||||206,074||||389241||
|Current liabilities|||||||||||||
|Sundry creditors|||||||||||20D91||
|Net current assets|||||||||185,500|||369150|
|Total ameta less|current||||liabilities||||||||
|Group funds:|||||||||||||
|Unrestricted
general||||funds|||||||||
|General|||||||||||||
|Brought forward|||||||4,727,168||||5138310||
|Movement
for the|||year||||(521,362)||||f423,282)||
|Transfer between|||reserves||||||||||
|Carried forward||||||||4,216,385|||4,727,168||
|Unrestricted
designated|||||funds||||||||
|Investment
fund||||||10|||||||
|Brought forward|||||||2,440,088||||3435364||
|Movement
for the|||year||||||||||
|Carried
forward||||||||4,110,708|||2|440088|
|Restricted funds the||||Gurney Benevolent||Endowment|||||||
|Investmentfund|||||||||||||
|Brought forward|||||||353,591||||381,282||
|Movement
for the|||year||||49,311||||(15551)||
|Transfer between|||reserves||||||||||
|Carned
forward|||||||||392,323|||353,591|
|Total Group funds|||||||||||||
##
##
|AT31MARCH 20|1||||||Company|number 08542702|number 08542702|
|---|---|---|---|---|---|---|---|---|---|
||||||||Charity number 1156903|||
|||||Notes||2021I|||2020
6|
|Fixed assets||||||||||
|Freehold
property||||||400,000|||40D,OOO|
|Investments||||||||||
|Listed investments|at market||value|||7,751,228||6,409988||
|Current assets||||||8,151,228||6,809988||
|Sundry debtors|||||39,793|||4864D||
|Cash at bank and
in hand|||||51,051|||25986||
|Deposit accounts|||||95,665|||292,628||
|Stockbroker
income|account|||||||||
||||||196,442|||377,362||
|Current liabilities||||||||||
|Sundry creditors||||||||20091||
|Net current assets||||||175,868|||357,271|
|Total assets less|current|liabilities||||||||
|Charity funds:||||||||||
|Unrestricted
general funds||||||||||
|General||||||||||
|Brought forward|||||4,727,171|||5138313||
|Movement
for the year||||||||||
|Carried forward||||||4,216,388||4,727,171||
|Unrestricted
designated||funds||||||||
|Investmentfund||||10||||||
|Brought forward|||||2,440,088|||3,435364||
|Movement
for the year||||||||||
|Carried forward||||||4,110,708||2|44D 088|
|TotalCharityfunds||||||||||
|The notes 1to 16form part||ofthese accounts.||||||||
##
|||||||Note|||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||6|E|
|Net cash oufflow from operating||activities|||||||(582,093)|(459,994)|
|Net cash inflow from investing|activities||||||||407,773|2/1,698|
|Net (decrease)/increase
in|cash||balances held||||||||
|Cash and cash equivalents|consists of:||||||||2021|2020|
||||||||||6|E|
|Cash at bank and
in hand|||||||||166,281|340,601|
|Cash and cash equivalents|at31March||||||||||
|Note 1 - Reconciliation
of|changes|||in resources to net||inflow from operating|activities||2021|2020|
||||||||||E||
|Net income/(expenditure)
for|the year before other recognised|||||gains and losses|||(591,423)|(451,888)|
|Decrease/(increase)
in debtors|||||||||8,847|(8,403)|
|Increase
in creditors|||||||||483|292|
|Net cash outflow from operating|||activities||||||||
|Note 2 - Net investment
proceeds/(purchases)|||||||||2021|2020|
||||||||||6|E|
|Payments
to acquire shares|||||||||(381,923)|(512,849)|
|Receipts from sales ofshares|||||||||789,696|1,229542|
|Net cash inflow from investing||activities|||||||||
|Note 3 - Net decrease in cash||balances|||held||||||
||||||||Movement|in|||
||||||||year||2021|2020|
|||||||||F.|6||
|Deposit accounts|||||||(199,000)||102,811|301,811|
|Stockbroker
income account|||||||(385)||12,419|12,804|
|Current account and cash|||||||25,065||51,051|25986'|
||||||||||166281|340601|
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|2|Expenditure||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||Expenditure
is stated|aher charging:|||||6|E|
||Auditor's
remuneration:||||||||
||Audit ofthe financial|statements|||||8,200|8,200|
||Accountancy
and other||services||||1,880|4,785|
|3|Donations
and legacies||||||||
||||||||2021|2020|
||||||||6|E|
||Forces subscriptions||||||222,567|219,655|
||Forces donations
and|collecting|||boxes|15|2,242|2,099|
||Private donations|||||16|9,677|12,495|
||Legacies|||||17||8177|
||||||||234486|242426|
|4|Expenditure
on charitable||||activities||||
||||||||2021|2020|
||||||||6|E|
||Allowances
and grants||to children||||772,402|675459|
||Activity
holiday||||||82|19,697|
||Sailing holiday||||||96|16;420|
||Christmas
gifts||||||40,000|37,250|
||Administration
costs detailed|||below|||66,975|49,032|
||Wages and salaries allocation||||||64,571|62721|
||Trustees'
expenses||||||787|6991|
||Audit ofthe financial|statements|||||8,200|8200|
||Accountancy
and other||services||||1,880|4785|
||Legal and professional||fees||||65|65|
|||||||||880620|
||Administration
coal's:||||||||
||Telephone
and postage||||||3,159|2469|
||Printing,
stationery
and||marketing||||19,524|30939|
||Sundries||||||91|(148)|
||Rates and insurance||||||4,309|4,271|
||Lighting,
heating
and|cleaning|||||2,915|3,440|
||Repairs, renewals
and||garden|upkeep|||36,902|7,399|
||Staff travel
and training||||||50|637|
|Staffcost|s|||||
|---|---|---|---|---|---|
|||||2021|2020|
|Group and|charity|||E||
|Gross salaries||||55,959|53,701|
|Employers|national|insurance|contributions|1,302|2,040|
|Pension scheme contributions||||7,310|6,900|
||||||62721|
##
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##
|8|Debtors||||||Group|||Group|Group|Group|Charity||Charity|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||2021|||2020|||2021||2020|
||||||||F.|||||6|E||6|
||Deferred expenses||||||2,737|||13717|||2,737||13717|
||Contributions
from forces||||||37,056|||34|923||37,056||34923|
|9|Creditors|||||||||||||||
||||||||||||||2021||2020|
||Group and charity||||||||||||E||E|
||FAYE and
NI||||||||||||1,246||1,285|
||Other creditors and accruals||||||||||||19,328||18,806|
|10|Designated
funds|||||||||||||||
||Group and charity||||||||||||2021I||2020|
||Market value of investments|||at 31 March 2021|||||||||7,751,228|6,409,988||
||Historical cost of investments||||||||||||(3r640r520)|(39699003||
||The Trustees
believe
it|would||not be prudent to consider unrealised
gains on||||investments|||as|being|expendable
as the gains|or losses may||
||differ materially
from those||which are subsequently|||realised.||||||||||
||When the market value|of|investments||exceeds their historic||cost the aggregate||unrealised||gain is credited to the designated|||fund.|Where|
||the market value of investments
is less than their historic cost the aggregate|||||||unrealised||loss remains|||within the general fund.|||
|11|Income and expenditure|||- prior period||||||||||||
|||||||Unrestricted|||Unrestricted||||Restricted||2020|
||||||||General||Designated||||funds||Total|
||||||||funds|||funds|||||funds|
||||||||I|||||E|||6|
||Income|||||||||||||||
||Donations
and legacies||||||242,426|||||||242,426||
||Income from investments||||||220,373||||||12,641|233,014||
||Total income|||||||||||||||
||Expenditure|||||||||||||||
||Expenditure
on raising|funds|||||44,206||||||2,070|46,276||
||Expenditure
on charitable||activities||||881,052|||||||881,052||
||Total expenditure||||||925,258||||||2,070|927,328||
##
||||||||Fixed|Fixed||||||Current|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Asset|||Investments||||Assets|Creditors|Total|
|||||||||E||||E||E|E|E|
||Unrestricted|funds||||400,000|||||7,751,228|||196,442|(20,574)|8,327,096|
||Restricted|fund - Gurney||||||||||382,688||9,632||392,320|
||Benevolent|Fund|||||||||||||||
|13|Charity results||||||||||||||||
||||||||||||||||2021|2020|
||||||||||||||||E|6|
||Income||||||||||||||396,014|462,799|
||Expenditure|on raising|funds||||||||||||(40I711)|(44,207)|
||Expenditure|on chantable||activities|||||||||||(955,058)|(881,052)|
||Realised gains on mvestments||||||||||||||78,393|39177|
||Unrealised|gains / (losses)||on investments|||||||||||1,670,620|(995276)|
||Transfer from Gurney||Benevolent||Fund||||||||||10,579|12,140|
||Net income/(expenditure)||||||||||||||||
|14|Gurney Benevolent||Fund results||||||||||||||
||The results|ofthe Gurney||Benevolent
Fund,|||as|extracted||from|these audited||accounts,|are as follows-|||
||||||||||||||||2021|2020|
||||||||||||||||E|6|
||The income and expenses were:||||||||||||||||
||||||Income from|||investments|||||||10,369|12,641|
||||||Expenditure||on raising funds||||||||(2,037)|(2,070)|
||||||Net realised||gains /||(losses)||on|investments|||||
||||||Net unrealised|||gains|/ (losses)|||on investments|||40,979|(26122)|
||||||Transfer|to|general||unrestricted|||fund|||(10,579)|(12,140)|
||||||Net income||for year||||||||||
||The assets and liabilities were:||||||||||||||||
||||||Fixed asset||investments||||||||382,688|341,709|
||||||Current assets||||||||||9,632|11,881|
||||||Total net|assets||||||||||353590|
||||||Represented|||by:|||||||||
||||||Restricted|funds|||||||||392,320|353,590|
||||||Total funds||||||||||||
##
||||||||||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||6|E|
|Devon
lk Cornwag|||||Raised by||an|officer||who completed||a half-marathon|||but|||250|
||||||wishes to|remain|||anonymous||||||||||
|Dorset|||||Dorset Police|||Federation|||||||||2,000||
|Hampshire|||||Anonymous|||||||||||||24|
|Hampshire|||||Sailing and Activity|||||Holiday|pocket|money||||||1,000|
|Hampshire|||||Wmchester||Peace Golf Society|||||||||||56'2|
|Kent|||||Donation|from a member ofthe public|||||||||||100||
|Leicestershire|||||Chief Constable's||||Awards
Evening|||||||||104|
|Leicestershire|||||Mrs Kathy||Robinson,|||Deputy|Lieutenant,||Rutland|County||Council||100|
|Surrey|||||Fund collecting box||||||||||||142||
|Warwickshire|||||Collection||boxes|||||||||||59|
|Private donations|||||||||||||||||||
||||||||||||||||||2021|2020|
||||||||||||||||||5|E|
|Anonymous|||||||||||||||||120||
|British Transport|Police||||||||||||||||450||
|BT Mydonate||||||||||||||||||89|
|Garth Doubleday|Chaditable||Trust||||||||||||||1,200|800|
|Heanng
Star in association|||with|NARPO||||||||||||||1,000|
|In memory of Terry||Rees Deceased: retired|||||sergeant|||Gwent|6South|Wales Police||||||198|
|In memory of R Lawrence|||||||||||||||||260||
|Mr C Groome||||||||||||||||||70|
|Mr K Gromett|||||||||||||||||55|60|
|Mrs Lissie Harper|in|memory of||PC Andrew|||Harper||||||||||2,500||
|Mr M Helyar|||||||||||||||||120|120|
|Mr Simon Stabb and||Ms Sam Tyrell|||||||||||||||300||
|Mrs Susan Craggs
Mrs T Plumridge|||||||||||||||||100|180
17|
|Mr TBroadfoot||||||||||||||||||100|
|Suggett Chaditable|Trust received||||via Charities|||Aid|Foundation||||||||125||
|Paypal|||||||||||||||||223|2|
|Rotary Club of Radlett, StAlbans
Virgin Money Giving|||||Royal Marine|||Band||Charity|Concert||||||4,144|200
9659|
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