Chartty registration number 116417S C)mP#hy t##itraiioE number 09537230 (Englahd ahd Walè$i GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND LEGAL AND ADMINISTRATIVE INFORMATION Trustees Pamela Johnston Peter Edmonds Robert strathah Akson Bessey Helen MenNss Michael Hepbum Chnstopher Has1 h411ty nutrtber 1184175 Company number 09537230 Prfneipal address Sarah Gtover House 31 Sarah Glover Clos8 Suiion Ce4th1dd St Midlands 873 5BW Regtster offlce Sarah Glov•r Hcrt 31 Sarth Glover Cbse SLffton Cc4dffeld West Midlands 873 5BW Indtp•ndent examiner LMH Accountants timited TIA Trevcf Jones & Co Old Bank Chambers S82-586 KInasry Road Erdingloft Birniingham B24 9ND
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND CONTENTS Pag¢ Trua&s, rèp Indepertdent examineffs rwt St8tem8nt of financia activrfies Surnmary income and •xpendtture accc*Jnt Balance $he8t Notes lo Ihe finanaal slalements 8-17
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Thè Trusteès present their annual report and financial slatements for the year ended 31 December 2023. The accounts have been pr8pa¥Èd In accordance wtF> th)e accoLnb"ng poliries set OLrt Trn note 1 to the accounts and comply wth the constitution, the Charitie5 Act 2011 and the Statement ol Recon7mended Practice, "Accounting and Reporting by Ch8TitFes" Issued in Marth 2005. The accounts p¥epaTed represellt Glover's Trust and incoTporate the linked ch8rity GlovÈs Trust EdoWed Fund. The ry)mparalives are thos¢ of Glovorts Trust Endowed Fund. Objectives and activitie5 Firsdy we must report that our colleague David Skellum has tired wth failing health and am Sure that all who came into contsct with David in his many years as our treasurer will have fond memories of a caTng gendeman. WÈ wsh him and his family the best of outcomes. The Trust was set up in 1824, with its Trustees drawn from leading Anglican and Non-Confonni5t Churchmen. Their role was lo adrninislerthe Trust for the purpose Df affording relief and protection to poor, ag&d. and godly persons. The first almshouses were ancient cottages in Steelhouse Lane. Birmingham, which eventuauy made way for thè Btmiingharfi General Hospital. Futher alm5htsuses were eTected in 1853 in Steelhouse Lane. but development eventually led the Trustees to acquire the present site in Choster Road, Sutton Cotdfield where the present almshouses were built in 1932. On the 2nd May 2017 the site was renamed Safah Glover Close. The trust provides pleasant homes for elderty pepple of bmlted means and caN currendy house up to 43 persons. It is a condits"Dn of occupation that applicants are resident wthin the city of Bimingham or its environs, and that trey art abie to live independent lives Public beneffl The Trustees have pd due regard to guidAnce issued by the Charity Commission in deciding what acb'vities thp charity shoukj unÉlert*ke. A¢livities The activities of the Tnjsl Are fLJnded by investment income and contributions by the residents. Majrff repairs or improvements are generally fijnded by w8y of grants or any other available SOUTCe. Achievements And pttrforniance Sigrjificant activities achsevements agalr1 objective Financial review 2023 has been a difficult year lor many organisalions and Glovers Trust is fio excepts"on. Enèrgy Costs increased by 52 % over the year and mortg8gÈ repayments rose by 700h, over those sustained in 2022 it is therefore pleasing that deskmte these 5ub5tantial negative factors a pt>sitive result was achieved. A surplus, Prior to appropriations, or £24,570 was aehteved l Oeficit 2D22 of £31,095). Reserves polioy It 15 the policy of the charity that unrestricted fund5 vthieh l)ave not been designated for a specTftc use should be maintain8d at a level equiv81ent to three month's expenlthture. The Trustee5 then consider that reserves at this level will ensure that, in the event ol a significallt drop in funding, they wll be able to continue the charity'5 cuffent activities while consideration is given lo ways in which additional funds May be raisèd. This level of reserves has been maintained throughout the year. Majorrisks The Trustees have a$sessed the major risks to which the charity Is exposed, and are satisfied that system5 are in place to mitigate &xposure to the major risk$.
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Plans foT future periods The tru$l$ activities are centred around providing pleasant accomodalion to persons in need and we consider that there are IN40 area5 of investment thI1 &gn yiéld substantial benefit to residents, Firsty by replaong our attractive bul elderly and poorty fitting front doors, which should also reduce heating costs and remèdial work on our many flat roofs. We shall be seeking a5SlStanw in fvndinu these Improvements. Structurei governan¢e and man8g•ment The charity was established by a chantable trust deed in 1824, it became a regisleTed charity on 25 Sèptember 1963. Glovm TwJt d)anged tts name to Glovers Tru8t Endowed Fund by a dewj datsd 24 Novthnber 2015. The Trustees, who are &lso the dirèctors for the purpose of company law, and who serv8d during lh$ ygar ¥nd up to the dale of signatur• ol the financial statements WeTe'. Pamela John51¢n Peter Edmond5 Robert Strachan Alison B¢ssey David Skgllum Helen Menniss John Davenport Michael Hepburn Chnsluph*r Flaslam IRe519ned 21 May 20241 IRe$ign&d 5 April 20231 Recnlilmgnl and appointm8nt oftrustee5 The Tnjst is managed by its Tmsiees, who once appolnted remain in p18ce until they choose to formally resign. New Trustees aro appointed by informal m#8ns. The Trust•es' limo and efforts are not romunerated, bul are on a purely voluntary b8SI$. P Johnston 1$ responsible for th4 day to day management the ¢harily. ONJ8nisahonal Stnlre The tharity is a Linked entity with Gloverts Trust Endowed Fund. Relationship th related parties There are no relal¢d party transactions requiring disdosure. Employe• Involvemtnt The charity's poliGy 45 lo consult and discuss with ernployees, through unions, staff eouneils 8nd 91 meetings, matters Itktly to affect employees, Interèsts. 1nlorrnath.tsn ol matters of concem lo employees is given through information bulletins and Teports which seek to achieve a common awareness on Ihe p8rt of all employees ol the finanu81 and economi¢ ts¢tors affectino Ihe group's performance. The Tru6toes' report was approvèd by the Board of Truste$$. Pamela Johnston Trustee Dale".
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLOVER'S TRUST l rnpcrt to the Tnjstees on my examination irf the fina)81 statemerts of Gloverfs Trust (the charity) for the year ended 31 December 2023. Responsibilities and basis of report As the Trustees of the charity land also its thrector5 for Ihè purpose5 of cornpany lawl you are responsible for tho prepar8b.on of the financiol ststement5 in ac£ordance wAth the requirements of the Companies Act 2006 (the 2006 Act). Hgving sotisfi¥d mysdl that the financial ststements of the charity are not required to be audite¢J reT Part 16 of the 2006 Act and are eligiwt for indèpendent examinatson, I repNt rn respecl of my examinats'on of the charity's financial statements carried out undef secb.on 145 of the Chan"b"es Act 2011 Ithe 2011 A¢ll. In ¢arying out my examination I have Idlowed all the aFfli¢ablo 'raCti4)nS gven ty the Charoty Commission under sects'on 14515llb} ol te 2011 ACL Indep¢nd¢nt •x•mIne5 statement Sincè th charity's gross Income exceeded £250,CIXI your examiner must be a member of a body i¢sted in section 145 of the 2011 Act. I confirni that l am qudified to vnd•rt(e the b•CaU l am a member ol ICAEW, whith is one ol thtr listed both'gs. I have completed my examin4th"on. l ¢onfimi that no matters have Come to my atttion in connection Trmlh the xaminalion giving me cause to believe that In 8ny m8terial respect.. g¢countsng records were not kept in respect of the charity 85 required by sectiM 386 of the 2006Act', or the finan31 statements do not accord those records., or the fin8nci81 statemtrnts dg not ¢omFly wth the accounting requirem of 5ecticn 396 of the 20C6 Act other th8n any requirement thai the accwnts 'Ve a true and fair VI vkniL is not a matter considered as part of an independent exarninatson", LY the financial siatements hav8 not been prred ir acwdgnce vAth the melhods and prinaples of the Slalement ol Recommended Pracls'ce for accounting and reporty.ng by ¢harits"es applic8 to ¢harili•s Pfeparing iheir accounts in acc(YiJan¢e with the Finan¢ial Repc¥ng Standard 8PFlicable in the UK and Republic ol Irèland IFRS 1021. I have no ¢oncems 8nd have come across no other matters In connectsC ith the examination to whi¢h attention should be drawn in this repGrt in cfjder to atyle a undwsti'ng 01 th finwcsal statements to be reached. LMH Ae¢ountJnts Limlted TIA Trevor Jones & Co Old Bank ChambÈrs 582-586 Kingsbury Road Erdlngion Birmingham B24 9ND Dated.. 2oL
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENOOWEO FUND 3TATEMENT OF FIIIANaAL ACTrIIIIES FOR TIIE YEAR EIIDED JI DECEIIBER 2023 TruAt 3•21 13 Ch•d14tl• 251.W6 251 224. JIJ 31.M) 116,7891 x*.i>J 250,30 .?70 2O3,J70 11 ¢7.m) 17.•23) 13,814 1>.614 17. 17.43• 18,574 sJ• 7.132 7.1 24.570 P1m41 Pl.fA51
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND STATEMENT OF FINANaAL A¢YIVIIIES ICONllNUEDI FOR fHE YEAR ENDED 31 DECEA18ER 2073 nd¥ lund• d••t•d TNSt IuDds 2Q23 Fund l J4ffuJry2Q23 125. J.7J4 1.197.712 135.$JJ J.IP6 1216,W7 t,QP2,910 125.trJ8 J.734 1.2ZZ.nZ 1,rAo,J40 125.6JJ 3.734 1.tP7,712
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND SUMMARY INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 All income funds 2023 2022 Gr055 income ILossesllgains on investments 283,704 17,9231 208.130 13,814 Totd in¢omÉ in th• r6porting p&riod 275,781 221,944 Totsl expenditure from incorne fvnd$ 258,343 203,37Q Net income for the year 17,438 18,574
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND BALANCE SHEET AS A T 31 DECEAIBER 2023 3023 2022 Fixed •s•¢1¥ Tangible assets 13 3.IyJ8.C•J8 3.CK9.931 CLbryent •4s•ts Debtofs Investments Ch at both and in hand 14 1S 21.372 $35. 1 219.381 529.707 222.412 T15,929 759.423 Crodltorn: •mounts iamlng du• lthln one y••r 17 151.832} {$4.9181 N•t eurrnnt Aa•rt¥ 724.097 704,S05 Total a••ts1•8ts <rtt U•blMU•i 3,782.105 3.774.436 Crndltor'. amounlj f•lllng thJ• aftw fflorn on• y•ir 12.538 8231 12.578.724) 1.222,282 1,197.712 Th• funda olthe eharfty Endo•wnent nd5- general ErKI(Yiwn•nt knnd5- designat•d UniestrKled lund$ 19 3.734 725 838 1.092.910 3.734 125.838 1.LY8.340 1.222 282 1.197.712 Th Comrry Is errtilled to the eyernpbon 477 d the ComwA"8s Act 24 lor the yew end•d 31 tl•ceml)er 2023. The threctors ¥dEnl•d th•r re"111 for rwjulrwwts of the Comwes Atti 2C ith respect to accourt'ng rec4Yds and the Frywabon siatemwrts. 4ccord4 vnth SeL 478. to lh• Small coNpani•8 rewm•. Parnela JDhnsto TnJstee CoMpY w$trabÈ)n Jxwrer 09537230 (Er V4ts1esl
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢counYng rdlels . Charity Inforni•tion Glovtsrt$ Trust Is a rylv• CAThP•)y 11nyt by warort• in En0 and K¥O5. Th• rw'5totsd office 1$ Sarth Gttytr ¢8, 31 Swah Gltyv¢¥ Ctse, Cokffidd. Mitands, 873 5BW. 1.1 Accountbftq convention Th• occcHJnts have been prap•ed m accard¥¢ce thé tharitys d(N2twi comp1 Act 20 8nd "Acoxmting and Repryurvj by Chwrtw. Stement ol Recorrrtnenoed Practsce to Orifjes prepanng thetr acrtS In T•th the Fwual RoF¥w9 StBndwd p¢8b1• In Ihe UK .. . Reputyli¢ Of Ireland IFRS 1Q21" 10$ •mended tr xcwtw pen1% r4)mMling frixn 1 20161. The chanty Is a PuW+c Enbty defined by FRS 102. ' Th• rhon'ty has lak¢n dlh• wovisions in th• SC4P for ¢hl5 #thng FRS 102 Upda1• &JN•tln ' l ftot tu wepwe ¥ Statemert rA Cash Ttw fin4nual $tat8ments ar prtywe<l in stwlry. 15 the cJThncy of th• thty. Momtwy ounts in th•its stat•mts m w)d8d to tho L The fin8ntio1 st8tem•nts h4¥• twi tht histon& cost con¥entM, Im4)dth'd to Indude Ihe r•¥aluaty¢)n ol freebdd properties to investrnw# Fyopernes certn fin0 $trUnts al f•r ¥alu•l. Thè pnntspal coUnting adopt•d s•t OLrt bel. 1.2 Gtiing ¢on¢•m Al the t5me ol apn9 the f01 Ihe Tru31ees ha¥• a r•asl)he •ycton th31 the ¢hartly . has ad¢qu8 resolwces to ¢)PW•tstffjal ft¥ lh¢ fry¢•1• fiJIu. Thus Trustses Dnbnu• to dop th• gw9 tMc•m bmis ol aCCnrj In Frf¥anng th• final81 st•t•m•rts. 1.3 Ch•rit&bl¢ fvttd• Unre8lnct&l knd• are availle lor TnMte¢s in ol their thmtèt4e . Dalité0 ftmds are iut4.eci lo spotyftc by io h¢TW they m&y b• u#thl The wrpose$ ' nd u5 of th• r•sthct•d fvnds s•t in the not•y to Iht xer13. . Unr•strided and desirnd fiJr¥Js irtome •ypTdibn iJorf8 Tr1 End Fund. 1.4 Inc4m¢ Incorne ia rKow¥tyJ th• tharlty is Wty to it aft•r w panCe ¢L¥TrJthns h& t1 met, .. . of the dor+atron. ur4es5 perfrymance ¢onthlt(x)$ reqimrt Jefeffal of the am(wnt t¥x recover4 ' 1glab.on to donabons r¥ed und¥ GfftAid ¢x thds of tovenart Ss recwlsed at lh8 tme of Ilwi donation. LegPC4eg we recD9Ths¢d on receyt or otheMse rf tho chairty ls be nohfi•d ol Issin"tOn. . the amount Is kt705vn. aThJ recpt ts expeded. If the arnoL1 Is nol the 18gacy is treated a5 a TJrynt asset.
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountinq policies.. (Continuodl 1.5 Expenditure eXpdElI1reI Is rewis8d In the wiod in wtiich a liablty Is fftcur¥pd and has cl#ssifie(l urNleT he8olings th8t agg•te cosis related to tha¢ Cale90ry. Vere costs ¢annot be diTEcty 8ttnbuted to parttcular headings they have been aMocat on a basis 0)nStent wih the use of $0(tIce5. Wlh central staff costs allocated c the b8ws of bme spent, and depreaation charge5 locaied rm the 01 thè ak$èt's ts$é. ofhèr ttssts arè albcaièd basèd thi the spwcS of $t•ff oo$ts. Costs of gentratthg funds Are costs inujrred h èttracting vobJnt#ry income. and thos• incuTh8d m tra¥ing actswbes that raise fwds. Ch&ritsble pLttrvtlJ"e$ are costs incurrnd in the Ilust's educati(al 0pw•tir5. Govornane• cost5 indud• thè costs attnbJtable to th6 tnjsfs compliance wth consbiutional aj statvlory 1[ementS. incbJOing audiL strategic magernerrt and trusts. meetings rrimbursed AN resowces expende(I we Indu¥0 d wrwverth VAT. 1.6 T4ngibl• fixed asyqts Twoble fixed assets we tnitidty rneaSur Rl rAJ$t and sub5equenty nasred al cost or VU8.£ffi, net ol and 8ny imp811ment losses. Deprery"ats.C is recognised so as th %4Trte off the efjst of assets1855 thv residual valLF•S Over Ihe sehjl live$ on Ihe foyowng bases.. Land b1th'D95 Fixt1$. fittings & quiKwn&rrt 2% Stratght line 8.67% to 20% Im• The yin tt tO6S WiVAng on th• thsposa of an asset is determined as the dtff•r8nct bEhvèèn thÈ $8le proceeds .' the carryy.ng value of ajset, is recogrrised in the sLitem8Trt affinanci•l Ath"vrti•s. 1.7 lfflp#lrnnt offixtd •sxts At eath reporbn9 end date. the tharity reytew5 the carrying amounts rjf Its tangth es$ets io dEterrThne . whèthèr thwe is èfty in&tabon that th0 assets hav6 8Lrtrored an impaimiènt bss. If any suth IndOn exists, the reco¥wable am01 ol the asset 15 estimaled irs order to detemiir Ihe extent ol the Impaimient losj lif any). 1.8 Cash ¥nd cash equlvalerii¥ Cash ano cash equivalents 4rth(le $h tn hand, dep"ts held 8t cdl wth banks. othw $hort.temi It¢wid in¥e5tments with ong'nat maturities of Ihree months or183s. #nd bk 0rdrls. overdrafts are borrowng5 In current liatshues. 1.9 Finneial instruments The ch$nty ha5 elected tc apkty the provisions of Secl"M 11 '8ac Finaftd Instrumgrttl. Seclion 12 '(Jher Financiak InJtnmenls Issues. of FRS 12 to al of ts finanoal Instrumenlx. Finanaal Instrwnents are reeggrtised th? thanty'g tsa1¢È shèet when thè ehan.ty beeome$ party t¢ the crrfltrattual provi$%ons of Ihe WlStrumer¥t. fmanual assets and Iiaknh"ties are offset. 1th the Ret amrAmls psented in Ihe ffinanoal statements, %then there Is a IglY enforceable right to set off the recognised arnwrrts and Ihere is •n intents.on to 5titte a nel ba5 or io rtsalise 4is•t and 8*tUe the Iifjtrrt'hty wmultfjn•w$ty.
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDEQ 31 OECEAIBER 2023 A¢counting poli¢les Icontinuedl 8•sic lin4nti•la$s¢ts Bastc Iir14nctal assets, whic rtIle detr$ easb and bank bces, are inltialty mwU41 at transaction wee tncluding transRctson costs an¢ are 8ubswntly c•nwd 4t amcirtJse(I co$t using the elfecti¥e Int&resÉ mefhod uftless the arrnngement constytthes a finan¢ins transacfity). Wi4r¢ the transac117 i¥ measured at Ihe present waIe of the lutwe r8rapts discowled at a m4rk¢t ratt of nteTesL Finarrifjl ¥$s¢ts dasiffd è$ rn¢èvabl ¥itthln y•rartt not amtytlstd. 34i¢ fin•n¢Jf•lli•billt 8a5ic fjn8naal Iobilsttes, Induding c¥tQittirs and bar loans ¥rè sniially iewxised èi traasacti6n PTits unltss lh¢ arYary&ment ¢i)nslitules )Sat, wherè Ihe debt IstrUment 13 rn&aSUffed * the pre$ert We of tre future payments ds'$courrted at o mavkei rale of intereFL FHwii41 l>athh"#s dalled as payabje Nwih)Tr ope year are not arnortised D¥bt itl$trumertt$ are 5ubswentty ¢wied At cp¥t: using ihe effective snt•Te5t rAte mthod. T¢de creditors are oNigattt$ lo pay fw yoods tsr ser¥i¢e$ that ha •cw5r&d in th& or&inary tOkJr£è tsf ¢)p&¥aiitsns from suppliers. Amount$ payable are tsa5srfl as csjrrent IHbilites rf paym1 ss due one year fw les5. If not, Ihey xe p¥es8nied 95 0rrent IIEbthtses. Trede crethtors gre reco9nised initialty at price aDrJ subsgquenlly mJasu¥ed at arnorn5 cost IJS9 Ih? Yecb¥? Intere>t method. Owgcognhlon ol Nh4n¢io1 Fi08n¢ial babililies are dertCJ9nised the thwity's corltr¥¢a[ ok1ig#"S &xpir# w ats discharyed 1,10 EmployAe b11ts CO ol Lmu$¢d t3¥ witlement is rècogrnsed tn thÈ period In Ihe orniiy¢'s swvi¢es #r TeMt(t?n belts 8rtt recogrrised imrhtth"ately 8$ afi exp¥8 whw the ¢hwty i¥ dthTronstr4y Committed to tenTrlna employment of #n M9y L¥ to Wovfde tOrmtnat bén8fi19. 1.11 Capit81 and R•vensts0 Grants CJwt31 grants for wrthase offixod assèts are d¢ducted tr( the costfjf Ihe assets. Revenue gr2Ns recekved are matched against fh8t gxpenthture by trjoTng indud8d IrwfEkng r¥swr¢•$ in Stem¥nt of Finanrjal AG14Yitie5. The related eXrIdIt1& iu irtluded in fSQUrtes &xp¢ndd. 1.12 tknluriatèd Ftsnds Ethgrdinary Rep#if Fund Arfrwrrts transfwted tr) this reprèsent atnounls srf kstdè to eary wt matrur Trp#irs, ImW8Te1>ts or rebtsildiry t£) h$7ung ppertieS. Cyditl Maintenance Fund mounts tr&nsleffed to> tht5 t4n4 rwseni 4mwnt$ ¥et ai4e to c•rry out or¥'nwy and rep 1919 pr151)efiit>y at snfreouent inter¥s. rto RB¢OUp1tTrt ol Nobonal Capi'ot Reserves Thts reserve had tse s81 Ltp, Lder Qrdor of tne Ch4rity Commt$si¢ii•rs In 1966: to bFJtld vp the assets of ttitr tr¥tst ovet ¥ period of yew¥ m or41er to reco¥o¥ * £4S.SflO ¢epleton ol 8$$4$ itt $1 yews In lh& lom? frf a dSpal ot treehrAd Pf¢pety. The Chanty Ctsmmissionerg $eatgd this Order on 30 Oacember 20Q2 Ihg resefVO ns to be Tetasn¢d f¢ tr PermaFI Endcfyvmenl of the TNSL 10-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crrtlcal J¢¢wntlng ••tlmates Ind iudgfyments In Ihe apF4icatlon of the charitys &CuntIng Fdic4e3. Ihe Twstees tre fequired to make iudgement$. Estiffiates and aSsumpbS about the carrying amount of assets and liatAlities that not read4ly apparent from other sourcès. The e3timats$ and •s¥ociated #ssumpon5 afe bose(I w hi3toTrcal •XF•nenc• and oth•f faeiDr4 Ihat ar¢ considored to be It. resuks may differ Irom Ihe$e ¢sDmai¢S. Th¥ estimAtèA and und8rfyin9 85surnptlons t rnViWtd an ba515 R•¥i8ions to 8ccountlng estimales are r¢wgni$¢d In th¢ penod in the estimate is rtwsed %there the revistsJn affects only that Fyeriod. or in Ihtr pth(xl ol tho r•vtslon future porioda wttore rnwiion aff•cls both tyjr and fjjtuf periods. In¢oM• Trorn d•n•tlon$ •nd lqAel•• Unr•stdet•d fund• 202J Unrntri¢t•d lunds 2022 Donats"ons and gill# Ineom• trom ch•rltsbl• ctlvltl•s Urtr•Irt¢t Unre•trl¢ted funds funds 2023 2022 Conltlbutloni ffom r•8ld•nts PerforMce related grants And48ry trading Incom• income 13.236 21.747 216.963 7,748 8,885 208.126 251,946 224.539 Income from ¢)th¢rlr•dlng activitit Endowm•nt End4x¥mftt fund• fund$ 2023 2022 N¢fythantthbl• vodmg acbvth•6 539 11
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 UnTEstricted Unrestricted fvnd$ runds 2023 2022 Income frc¥n b5ted invvJ51ments Income IFOM UnStY in¥estm&n¢s Unrèastd gasn on investrnents 22.607 2.174 6.609 25.197 142.215) 31.390 116.7691 chrity 2022 2022 2022 Irry)85ment Rates & waler rate5 27,IJ05 4.234 27.2 4.102 27.258 4.102 Subscnpticffjs Insurgnce Gas & electntsty Legol & profesy(3no1 & mntenace Garden ma*ntenance C8relme mntals Posw8 & stalonery Telephe & fax Bank tharges Stall ct>sts Mortgage snterest Inc3t11 expenses 4.129 42.367 8,433 25.523 7,788 2.373 415 709 3.672 27.c7 6,014 3.672 27.087 6,014 29.264 8.216 8.216 178 178 245 34.825 245 34.825 55.C68 1.072 658 37 593 94,073 1.931 722 1.072 202,370 203.370 An4tysls by fund Unrèstricted fijnds 258.343 2Q.370 203.370 12-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS <CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Net movem•nt in fimds 2023 2022 The net MoveRnI n fwds is stated after chargi{edt1ingl.' Fees y)Ie to the ch5 Indedent examiner - for other assuTance seNices Depreuatson ol tangit4• fixed asj 3,430 27,005 27.258 Trustees None oftr Tnjstees I ¥y persorts CfMM10d Iheml r•eved Y rernunwats'l duitvJ the year. 10 Emwoya Thg 8¥oYage motthy numbw of nay¥5 dtwtng yfrar w•s'. 2033 Numb 2022 Number Thor were no ?rnFdoyees arL1 remuneration was m¢xe than £60.¢JJO. 11 G•in$ and losses on in¥estments Unr•strf¢ted UnrBsirfetd lundx funds 2023 2022 GaIno0885) wisiw On.. Sale of investsnerrts (7,9231 13,814 12 Taxatkan The chanty 15 exempt from taxatlon on its acts'vltK?s bause all its in¢omè is applied forcharitth FXJFposes. 13-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 13 Tanglk4è fl¥•d 4ssds TOW iitbngs & Cogt Al 1 January 2023 AddEbCs ChSposs 3,047.782 207.362 3.255. 144 17.rrti At 31 Docemb•r 2023 3.1)40.782 209.444 3.250,226 Al 1 Jary 2023 Depwiatsc chwged in thi y 1C6.481 14.681 185.213 27.tK)5 12.324 At 31 D•tembtr 2023 91.058 121,182 212,218 Canying amount At 31 Docernbgr 2023 2.949.728 88.282 3.038.tx)8 At 31 Decembw 2022 2,W.050 11JO.881 3.[9 931 14 Oebto 2023 2022 Amounts villlng wrt ofi• ymr. 3,314 Prwwmerrts and Kuued income 21.372 15 Cuffert asset Investmw 21n3 2012 "Jted MvEJlrnents 539.19B 529.707 16 Lo•ns and ts¥erdrnfts 2023 2022 1.255.899 1.289.691 37.491 1.252.2C Payable after ane year 1.222.299 14-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 16 Lo¥n• and ov•rdrafts IContbnu4dl The 108ns a sefuod by fixed tharges over the pr¢)pwty. 17 Credttorn.. •mounts du¢ wbthin yr 2023 2022 Notes Bank bans Other taxatlon and sooal Uty Trade creth.tors Other cr8¢itors A¢(%1$ 4nd dafeffod kncome 16 33,40Q 1,623 S25 37,481 1.437 525 198 15.267 18,088 51,832 54.918 11 Crndltors.. amounts tUlng du after more thav one yew 2023 2022 Bank kjans Oiher u•Yitors 16 1.T22.299 1,317,S24 1.252,200 1.324,524 2.539.823 2,57fj,724 IfK4uded In Dther lon9 creditors are r4xived of £1,317.S2412tr22- £1.324.5241. 1Y Endowment lunds edrPe1ll ftJnLrfs can used in accordatKe wth Ihe g&ects of tharliy and is a$ n$Cted Income. Any capitd gains or lasses ansing on tho assots fprrn part oflhe At 1 Jpnury 2Q23 IncofflÈn9 resourc*¥ At31 O•c•mb•r 2023 P•rnianent andowmtnts 3,734 15-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEAIBER 2023 19 Endtymerf funds {Continwd? preou5 r. At l January Incoming At31 2022 3.195 539 30 End¢rtvm•nt ltyids. doglI•d Thès• •r• lunds knds we mwiol to the At 1 Janury At31 2023 D•c•mb•r 2023 12S,638 125.638 Pr•v104 ye•r." At l Jinuary A131 2022 D•c•mb•r 2032 125.838 125.838 21 Unr•strlct•d fund• The incA)me hjnds cl the chon'ty Inthde the dewgn•l•d *h'ds h•v• ••t ask1• Iinr•iina•d by thè Ttwst•u far ¥J•£sfic wrr4)$0s. Atlknu Incoming R•sour¢•• $& •nd At31 2023 rniourc•s •xpended lo5 D¥b•r 3023 Genor81 ftmds Revalu•bw r•wTV• 1.IA8.340 283,704 1258,343 (7.923) 7.132 1.085.778 7.132 1.089.340 283.7C14 1258.3431 17911 1,092,910 16-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 21 Unrnstn"et•d fimds Icontinu•dl At l Jrn•ry Ineoming Resour Gln¥ and 2022 resour$ Éxpended At31 2022 GeneT RV3c r8seNe 1.tr39.974 208.130 1203.370! 13.814 150.208} 1.118.548 150.2081 1.OUg.974 208.130 203,370 136.3941 1.W.340 Unrestricted lth)ds sndud#s a roseThe (rf£,437l2O32. £79.V. 22 ArtIly rf n¢t 4$8ets lJaen funds lunds lunds 2023 2023 At 31 fJ¢e¢mber 2023: Tangit4e assets Currerrt gs$e151lhatJlktses1 Lg ttrm 3.038.r 594 725 {2.539.823) 3.038 C>)8 724 097 ,$39.823} 125.638 1.IYI.910 125,638 3.222.282 Tot•e fund4 funds 20 2Lf12 2022 2021 At 31 DtenlT 2022: Taroitle ass•ts Current ¥55et&l(I'abthtsesJ Long tenn liaL¥k'b•S 3.sXg.931 575.133 {2,576.724} 3.1.931 704,505 12,576,7241 125,838 3.734 1.8.310 125.638 3.734 1,197.712 Ths wrÈali$ed g•ns repYe$s Ihe Los• ffi ihe v•bJÈ ol Ihe ¥eStren1j Ih•"r u)sL 23 R•l•t•d Pffiy tnnsaL*"o 17-