chartystraDTr numb•rl18417S IEDoktyd And WlMI Cqny•Thy W•Bl•ir•ikn n¥n*v09537230 GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FLIND GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND CONTENTS P*g• Slatement of Trustees, nSIbIlI0eS S&it•ment of fflnandal activili•6 Bakqnce shoet 10-20
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 DECEM8ER 2024 Tho Trugta•s thdfaTrrnl T•rt artt1 flnandal atat•mth)ts for th& orAJ•d 31 D8C0mber 2024. The ac4)unts hav8 teen mared In acoydance 7AIth the 8wyJnlOng sel QLrt In note 110 ts 8cciwnts ar ynY wth th¢ c>)nslbtutbtin. the Charfbe$ Ad 2011 and Ihè Slatèment ol Rerrynrnerthd Pr¥ct6ce. "AcCWnr and R•FXing by ChariD"•S". 188ued in M8r¢h 2CQ5. The a¥ts prep8rgd rwesenl Gkwarfs Trt and IncffjYr8tfj lh• h'nk•d GI$ Endtr4bd Fund. The ccthp8r8kn8 arn thDs• 91 Trust ErKlo4wd FU1. ObJ•cUv•• •nd •dl¥lll Thè Trusi was Sel up Sn 1824, with its Trltea• drawr from leading Angliean and NC101$t Churchrnen. Thdr rd6 Was to a(Iminister tho TNst for tha PLry>Sa ol affrKding reh&f and eCt)n to ptr)r, awa, and gty p•r8on8. The firni were 8ndent ¢cll8ge¥ In slee1K8• Lan•, Blrmlngh8m, ntUal made way for the minghn Ger81 Hospital. Further 8lmshouso$ wre efKied in 18S3 in &edhouse Lane. but developynenl evonlually Ihe T1888 to acquire the presanl srte in Chesler R¢Md, StrtI} Ccffiald w•r• lh• pro1 •kn)$se$ were iwift in 1932. On the 2n(1 May 2017 Ihe was ren8me(I Sar8h Gkwer Close. Th• In1 plta8anl tJty ol Imrtod m•ans and can hre up to 43 perscm. li is 8 n{l11K)n of (wJp¥bon Ihal 8ppk•nts wdemt wfilhwi tho uty of kn¥nghgrn ¢Y it¥ WITlY111. and Ihgt t fn alle lo kv• Independeni live8 The Tnjstees have thje rtyard to guidance issued ty the Charity CunMion in d'dIng aGbwbe8 charity shwkl undwthko. Acllwis The 8dvltlg$ the Tru81 Jrg fundod by Investment knccne cu)trlbullcs by the rnsld•nts. M4or rap•ks ryovements are generaly hjnded by way ol grants or any other avallabl8 swreè. Achl•v•m•nts •nd p•rfonMA Slgnffjcanl aG&"vths and •chiVmentS egainsl ObNeS h th8 seiThrJ h8K of thè ar incrèased Dur maint•nAntt tynditu on Ihe c4Jlt8ges 8nd we 8fe beginning to the benÈfits cl thL4 in bcrth re¥idenl 59bslacD Jnd the overall ldlon of the Close. We 80 intrc4Juc8d 8 rrwnbng Swem Jnd Ihis h•5 boen p8rtial8rty hdpfvl in dkn¥ing us to trad( inc£#n• 8tr•8m8 exwidrture in more detsil 6wiftty. Flnanclal r•vl•w 2024 saw (yJr costs >1$e •s th• r81 of ithtion derJeao•d. Thi8 •naÈ4•d u$ to •thlw• p.11¥0 rul rot withstsndinq the n¢gati Impa bad by th• ern of • ¥y8twn suK4ier. Adefiu( wic lo apFXWtKJns 01 £24.491 repry*d ( D¢ftil 2023 of £7,628). ROSOr poNcy It is the picY of the chanty that unros1ridr frjnds 1¢h hjve not d•sW•l•d 8 spegftc use shwkj t muin18ined at 8 levd WUNBlert to Ihree month's expendilure. The TnJst¢es then C8•dr Ih81 rnseThes al thls lev enture that, in th• event of a svwfficant dTOP in fvnding. Ihey will be able to continuè th• thawiW8 cuThent whilo con#Trd•rati¢ffi 19 giv to wayB in athjrtional bjnds may Tho l•vel ol r6w¥o8 ha• ba8n m8int8in8d througlwt yew. Free ros•No8 at 31 D8c8rr&er 2024 £1,043.35312tr23: f1,067,8441, agalnst a spendthg of £303,0661£283,409 20231 which morn than mtels Ihg requirements. fro8 reserves have be calculatéd as unrestrirjed funds. The Twstees wl rem8ln rrlThJfvl ol thbs In maklng Ilnandal dtdskTh WKI a&xattng reÉ¢urt46 Outhg thè Then1
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 The Trustees h8ve assessed the major Sk8 lo the ch¥lty18 •xpx)Jed, and 8thfirAI Ih•l ¥y7leffr4 J lo rnl&gale expDsvre lo the maiw sk$. Pl•n• lor firtur• p•rtod• In 2025 we are Introducjng a SeThicè Chèry for al ol tho ¢oltsg88 in the Chxo. Thrd ad(IKThI inwno alk us to ueole Schedu for rne m8inlen8nce 8nd plbnned up3rades. The items these scheduks a Flanned rodwalion ofCott8ge8 rrfurbi$hngnl of trhp fathgr ¢leganl Ixrt ent cottage frr#M do StNctur•, gov•manc nd rnanag•m•nt The thadty was estsilished ty a tharitst4e trust deed In 1824, it beca a reglstered dhirfty 25 Septomber 1w. TnA dn9 rt8 nam• to Glows Tnjsi End(YM)d by a do1 dated 24 No¥wnbw 2015. Tho Trtte88, who are 8180 Iho dlreLc8 f( the of crrfnp8ny Ivw, and 8oNed duthg Ihe year8nd up lo lh8 data of signature oltho finandd 8tatwnonts ¥%.. P8mela J(thn Petar Edmonds Rctsi Stra¢han 80n Bessey Oawd Skekni Hel¢n Menni$s (RGnad 28 Jawary 20251 IRow9n•d 21 May 20241 (Reygned 17 September 20241 Christ6r Haslbm Jan 8ry¥rel Vlckery chn5lLor F8w¢•tt {{nI0d 25 Juty 2024} 1I4winted 23 July 20241 {AppJinted 28 January 20251 RecnJllm8nt and 8pp0htft ollwsletrs The Trust is mgnaged by118 Truste•8. who onc• appL4nt•d remDln h ploc• unl11 to fcrfm8y r•sn. Now Truateu are appointed by inlcmal means. The Tru8190s' ¥me 8nd effcts we nL remunwatsd. 8fe on 8 pJrely v(Jnt8ry bA4$. P John#cfi l• wponth the day lo day man•Jemenl of the tharfty. Oryan188tbono1 stnKt Thé thanty 16 a ontsty ilh Gk)vf8 Tntst EndtYAd Fur#J. Relalknishlp wllh rglaledparfies There are no related paty trBn4adkin3 reqling ixknwe. Employ•• Invofv•m•nt The charitys poky is to •nd •mpby••s, unkn. •tsff •r#l •1 metings, nwttèrs likety to affect emtJye85' Interests. kifcfflrth of rn8tters cl c¢nwt to ernklo 18 Itwh Infrrn¥M twl8llns ond rwls seèk to athve a c(ffnmon awarenes• on the part of 41 of the flnarKJal and o(¥YKxThc fa(ors affedThJ tr• group's perfomance.
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Audllor 8ccrKdance the c¥npYS 8rt1cl8s, a relUOn Vcwn9 Ihal LMH Limited TIA Trevty J08 & Co be reappdft1 as audrtor of Ihe campany wil be put at a General Meebng. Tho TnJsl88s' reyt approved by the Board ol Twsl885. ?LJao Pamela Johnston Twt•• 1 JY 2025
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND STATEMENT OF TRUSTEES. RESPONSIBILrriES FOR THE YEAR ENDED 31 DECEMBER 2024 The Tnjstees. who are also the dirnCk ol f4ova¢8 Trust fN Iho ol eompany law. ar• rn8PMSit4• for rf•par4)g the TNste8s' and the fina slat•mants in aetyJrdarK8 wih BPF4icaÈ4• law and Unit•d Kingdcm A¢c&xmlng Standards luted KlrydNn Gweraty Accepled Ac¢ounlkng Prfjcel. Company law wvires Ihe Trustee8 lo pr finandal stsl•m•nt8 •ath finandal yèar wthich gi a tru• and fa view of the slalg cl affalr¥ of Ihg tharity and of tho Incng AFV&tIOn ol Iwow$, intheiThJ th Income and ex1•dIlre. of charttabkn ojrnpany fcf Ihat year. In [nring Ihes8 finandal stblomwts, th• Tru0•$ 8r• rwSr•J to: - sdeci suitsble &CntIng wliao$ 8nd th¢n awAy thern rn$Stan0. - obstryts the methods 8n¢J pthdpkns In Ihfj Charibe5 SORP; - mako 5udgomon18 and esUmates that ar& reawatrAe and rKLJent - stst? 8PF4ic8tl8 UK Accwnting Stsndards hJ¥e Ixon fiJNertl, to 8ny m8twial doporlurnB dlsiaosed 8nd eyFAained In Ihe flnanc4al sl8lemonts.' and . yepare Ihe finanrial on th? 9rdng c4mcm baals St 08 Inapprwl8ts Ihat the caifty wll rthb"nu• in op¢raI#. any Ume thè financial [KIon ol thè chathy and enab18 them to ensure Ihal the finandal sLitements comrty th Crynpanb88 Act 2006. Thoy ar• altso rosponwt40 for sal•guarding tho assats ot lh8 tknanty and he( for iaknng re8s(Thble 8teps thg prevwtion ond da1On of fraud and other IlgUI9r[tso$.
GLOVER'S TRUST
INCORPORATING GLOVER'S TRUST ENDOWED FUND
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF GLOVER'S TRUST
Oplnlon
Wo h8v8 gudttod the ftnancial slatwn8nts crf Gloverfs Trust Ilh8 'th8thl) IOT trhe year ended 31 Demb•r 2024
c4Jmwl8e slatwYnI of financial actsvilies. balan sheet and notes to th fm•ndal statemen
cJding 5ignffjc8nt 8¢oJJnb t(188. Th8 finano81 1•po.a framohfjt that has boen 8PFAithl in Iheir w8par8lton
IS 8pplicable law and Uniled KingdNn Acwunting Stsndatds, indIng Fina$81 Rwting SIAntlard 102 Th&
Fin•nwl Reporfvng Slenderd In the UK wid Reputslr of Irel8nd {Unrie(I lQn9drxn Generaty Accepted
AcCryJnn9 Pradicl.
In ¢)ur th• finw)c181 st•twnents'.
giv8 a 8nd Fair Mew ol tho of Iha rtharitable comwls •llwrs os •131 tknmbor 2024 JrKI of its
ino)ming resources and 8Fvlic8tion of res(wrces. lor the year then end.
have been propwty wapared in acLordancAry with Unrted Kingdom GenaT81ty Ao¥Aed hAxunting Practic•:
and
B•sls for oplnlon
Wa conducathj our audil in acclyd8n wth IntfjmatiLThI St3nd8rd5 Auditsng IUKI VSAS (UK)) and apple4bl8
law. Our resp)n8iL41iJes un¢gr th08¢ $tsnd8rd5 ore lurlher described in the Audito$ respSrtles for audil
the financl81 st818m8nls 8•clknn of reFrt We are inderndenl ol tho tharity In acixydancg wilh th8 Éthlc
rawirwnonts that arn relevant lo audit of the financial stalements in th& UK. induth'r4J the FRC'S Ethi&il
Standarf, Bnd we have I111 our other ellicd res[si..tieS in ao)ydance vthh Ihese requirements. We bdieve
trt the 3j11 •wdence we have (knlaknod Is sufflooni and apwopriate lo wovklo a bas18 lor cplni(Xb.
CM¢luslon• rnlatlnq to going conc•rn
In auditing Ihe financial slatements. we h8ve I)Jn that the Trusl••8' use of Ihe gdng basls crf
8e£ciJnliNJ in pr6parats.on cl the finanaal slatoments is 8prryrb818.
888ed Ihvk havfj p8rfrym8d, we hove not Idonlllkd any materl•l unwWn16e8 rek9tg to ¢y
thdI16$ that, IndIrtu31Y c ladI¥•ty. may cast sgnificant dcyjbl on the charivs ablty to conlinue as a
f(x 8 wod ol at knst ffithS from en th• fin8noal statwnents are aulhNised fl i&we.
Our respsbIl1eI and the respcrtL1Sj of th? Twsl•¢8 r•8p•cI lo g0kn0 (xxKem d88thbod In I
relovAnl 88ckn8 of thi8 r•tyL
Oth•r Inlorm•tlon
The othar infryrnats' tth)pn the Mc1Jd in th• Wbnu81 rw othw than thè fjnandèl stsiem8nts
nd our audit$ T?rt thereon. The Trus¢ee5 8r4 respons5¢ for the Lther Inlurn8lion ¥4ithln 8nnu
CAJr opinK)n on finda1 stat•ment8 do•& nol cover ts cther infom)atic¢) w• do not 8xwe8s any fr
ol assuiance thefton. Our f8sp0nwhfy L8 to rnad thé othér inliThatK)n and. in doing so, Cc51der
whether the other infrrn8tion is m8teri81y incon5i6tsnl the fin8na81 ststements or our knowledge ciltained in
the ctyjtse of tho audit, olhemse appears to matenalty rnwtsled.ll we idenlty suc materi81 inccosisleTrcs
apparent mattli81 mlssthtements. arn requlred to deternilrn vthelher thls glves ris• to a m•wial mi$8t•lwn•nl
In th8 financièl st•l•mw)ts Ih8ms•fv•s. N. based ors th• work w• ha wlomthj. cg)ndud8 Ih•l there
We to rep(xl in this re9d.
M•n•rn on thlch w• •r• rewlr•d lo r•port by •x¢•ptlon
W8 hav8 noihing to r8F#Nt In f8SP8d of lh6 lolowing maltws in lati) lo tho Charitles (Accwnts and
Reiyytsl Regulations 2008 requires us to report lo you tt, in our orAnion.'
Iho Informaln 9p4on In Iho faLIa1 6tatamonts In0)n81•nI in any mwal r•6p•¢I wrfh th• Tr108$.
report., L
suffio•nl ro
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GLOVER'S TRUST R•wslblMtltt of Tnths As exrl3ine(I mc¥e ftlY in thg st8tement d Truslees. re¥Knslbllllles. the Tnjstees. vtho 8rg also the olTeOr8 of thadty fcff the ol c4xry>any law, are rry)onsit4e for the weparn1l of the financial Jtalemenl8 ¥)d for teiTr3 sats"sfied that 11)ty give a Inje and la . and lor such Int•M contrcl 88 th8 TnJste85 ddwmin• is n•r8sary lo emot4e the wepor81icm cl financi81 $tAioments Ih8t •re free frcrfn Mat81 rTwsststemenl, ether due to fraud cr error. In prepadng tht fin8ii¢wI st8tem?nts. the TnJ51ees are reSp)51l8 888e8ng the th8rtty's 8billty to C4)ntinue as a golng concwn, d48ekndfig. as appl1eab. matters rabat&J to going c<>nc4m and the g tsM¢8m basis of accomb'ng ufil tha TnJsle85 •lhw intand io liquidalts tho th8n18ble emipY tr to C8a68 cper•lkn8. ry have no r&dlslc bul to do Go. Audltsrf• r•BpM•lblllU•• frtth• ludlt of th• Ilnand•l #t•t•rn•nts We h¥v? baen Bppointed 8$ •udltLV under sedlon 144 of Ihe c111101 Ad 20118nd report in •fxfjrd•nr t Acl and rnknanl regLdations rnade or having ellecl theTeunder. Ow oWectNeg a to d)tsln r•asonable assumu abjut the finwdal 88 a ¥hb)bg are free from rnat mi881atem8nt, Whellr due lo fraud or effor, and lo iswo An audrtc¢8 Iwt that indud•$ CAbr wnion. Re850n8bk 85gJrnnc£ is 8 Ngh knvel of asgJTanc4 but nol a gvaranlee that an audrt condurted in accordance vllth ISAS IUKI wll cletect • mglenal migststemertt it $. MS8ststements can arlse frcrfn fraud c and are considernd Mat•81 If, indi¥bJudty cff in the aggregaie, they couhj r8a80nably h expected lo infknen the nniC deciwons crf taken ¢y) the basi8 of these ffinaniial statements. The extent to thlth our voc8r•S are c4pai4• of detedlw IwLllleg, frJJd.18 delalb8d beknw. A fvrth•r descxipbon d our rvsPmSit4hts'6s is av8l8bb on th8 Finand81 Rowtiry CcAJnd'6 wabs11• 8L' https:11 W.froL¥g.ukl8udilm6FK)n$i'1e8. Thts d•s¢nption Icms part of our repDrt. ThSs reF)rt Is made 6cAety lo ihe tsusle8S, 8s a body. in acc>ythce ryth Part 4 of fv Charit$ (Accwnts and Rep15) Rtr3ula¥on8 2008. Our audrt work has been undertaken so that might slale to d)artW8 trust688 those rnattgrs We 8re wuired to slate to them in 8n audrtor's rewt and no other purFW. To the fttllesi exlent permitttd by W, we do not ac(xpt 8ssume 10 8nyone olher th8n the and the chaAtys tNst688 a5 a tJdy. for audit wo, for th[8 reFOrt. CK fcA Ihe opinions w8 ha fc¥Tll&J. 6tsph•n L•wls IS•rtlor StstutoryAudrtor} For and on thaWof LMH Ac(>JunLints knmited TIA Trovw Jone8 & Co. StaAudItor Chartered Acc¢wntsnts Okj Bank Chambers 582-586 Kingsbury Road Erdingtyi Bim)ingtt8m B24 9ND 1 Juty 2025 LMH Ac¢Thmt•nlB LinNted TIA Trovor Jones & Co 1$ aFVL¥nknonl a8 audit¢y of the chwlty ty thrtuo ol tt8 Igimty for 8PFdntment as of o rAjmpY undor Secti 1212 of tho Comp AL2 2006.
1111- 11 I" 11 i- 11 i-
Ilia- 1 1-4 4 xw
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 FIX •uèts Tangible assels 13 4,154.487 3,061.942 Curr•nt •M•t• Debtors I51ments Cash al bank WKI kn hwKI 14 15 21.185 9)5,082 218.633 21.372 $35,196 219.361 744, 775.929 Crndltorn: •moynts f•lUno wlthln on• •r 17 {62.265) (51.832) N•1 cmnt •M•t• 724.097 Tot•1 ••••ts IM• curr•Tht Il•bllltl•• 4.837,122 3,786.039 Cr•dllorn: amounts lalllng aft•r 11.186,0881 11.222.299) 3.651.034 2,563.740 Th• fvnd• of tho ¢h•rfty End¢ymenl fvnds- connected tharlty Endfyrni fiJnds- dewgn8lo Restrieied income lundj Unrethdad ndS 19 21 3,734 2,589,947 14.IMI 1,043,353 3.734 1.471.162 21.000 1.067.844 22 3.6S1.034 2.563.740 Tha company is •mlrtbd lo Ihe ax6mptic) from th• a]11 rowir8mMI ccffjthin•d in s•¢li 477 of tha Companio8 Aci 20&3. tr the r eTh5ed 31 O•c•mber 2024. The athovAedges h8r re¥M)n11.eS fc comptys'ng wrth the ruremti of the Crynles Ad 26 wilh rnspecl to ¥Gwtsng re(xxds arwj preparati ol 1]nal81 statomants. The members have nol reqUId the ctvnpany trj cètsln an audli of its finandal 818tern8nts urthf tho rlfam•n ol tho Compani08 AL 2006, t tho yw in queslion in a¢ctyd4n Ction 476. Thoso finandal statements have boon syepared in •cc(wd•n¢• ¥Ath th• 8pplkxl¥be to C(wnps0s sutl•¢t to the small ¢cMpanSfjs regirn•. The iknrKlo1 statemts werts apkYu¥ed by the Truste86 on 1 2025 P•mela Johnston Thi¥ts• Cryany rtywtrnlion nwtknr 09537230 IEn*nd and W818s)
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢counllDg poll¢l Ch•rlty Inforn)•tl Gh)ve¢s Tnjsl is a privalo Ca)mpany limited by guwanloo inctypor8W in Ervaland and Walès. The r•wtw•d offKe 1$ Sgrah (4ow House. 31 Swah Glo¥er Cke. sLrtl Cokjndd. West Mldknds, 873 W. 1.1 Accounllng ¢onv•ntbon The accnts have been preIed in ¥(xyJrd8nc wllh the thorfVs go4vniw dowmert the Ccffnpanles Act 20[ and "Acowntlng and Réwfjng by Chariti8s: Ststemént of Rth))mmended Praclice apicatI to ch8nti8s pf8pAllrvJ their acsyjnts in arxory18nc ith th# Financi81 Reporb'ng Sl8ThJard aFW'cable In tho UK arHJ Republc of Ire18nd (FRS 1021. 18$ 8mended acc(ntINg pertcrtJ$ commencing from 1 January 2016}. Tha th8rfty18 a Bènofft Enlity as defined by FRS 102. Tho ¢h8rity h38 tak 8dVanta ol ts [01( th• SORP for thwhles •ppIn9 FRS 102 UKtht8 81th 1 not Io Fyepare • Staloment of Cash FIuw8. The financ4al statemonts are weparod in sl&fjng, which is funcaional currw ol the ¢hwity. Mon•1 ¥m(K4nts in Ihose finanuol ststwnents orn nn(led to the rareSt £. The finandal &aiemen(8 have been prepared UreT the hisl(wlcal ¢crft c)Ven1k. ImcJified to indudè tr revY0.0n cl fr8oW rmp8.9S 8nd lo indud• knveslment yoporiw and cortain fThncial instrumnts al fw vaknel. The wlnrypal accountin9 poki.es adopted are set out bdow. 1.2 Golng con¢•rn At the time of ap19 lh• Ilnandal sialements, the Truste85 have a roasonabla expedalhin thai the thadty ha5 adequate r¥srCeS to continue in c4)eration¥l existence for the fLYeseeable ftAure. Thus th• Twal )ntinue to 8(lopt Ihe gcing cc¥Kem b8sls ol 9n"ng in Fryianng the fmano81 ststemerts. 1.3 Ch•rltsbh fund• UnreslriGtod lunds •rn lIab for us• at th• diw•tion of th• Tnmtees in furthoranco of Ih•ir d)wllablo OesSgnaiedtd fiJnds br• suwect lo speafic Ixxdth by as lo how they be used. The purp28•S nd u8e8 of Ihe r8Jtrlclad funds are tst Lxrt In Ihe r¢$$ 10 tha acc(xwrts. Unreslrfcled and d•slgn•ted funds repTe8•nt incun• WKI exp•ndiNn Gbvorfs Tru End(Aved Fund. 1.4 Incom• Inccne Is rwras•Y the drIty l$18gally ontillod lo Fl after •ny perf(Ymgnce widilKXW have bar mol, the arno1$ can be me•md rel8Ny, and It18 woboble that VAI be Cash dcfial>)n$ arn rets)gnise•J on receipL Oth•r dcmlion$ are f•c¢gnkq•d th• Larity has been nc41r1 the don8bon, vnle5s perfcffi18nc8 condth'cms reqvire dthrr81 of th8 aMcrtL Inrxime tax reAovw8ts19 relaOn to don8tions reIVed under Grft Aid or deeds of ¢oven•nt Is recfjgnised 8t the time of the donetion. Lagacles are recognlsed M r#c•lpt or OthIs0 if the (affty has boen n(Alfd of an impending dL•trfrtlm. the amwnl 18 knfmn, •nd r•c4ipt 18 exFecXed. ff the amount is not knrmn, the lega¢y 1$ trealed as a conlingont a 10.
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2024 ADntIng pollcl (Contlnuod) 1.5 Expendltur• Al expenditures Is recognlsed In the pryiod in 8 katrflty is end has been da8slfied under haadings that afrJregate all costs related to that eate9w. Where costs Cannot be dlrecty attr6buted lo particuL8r headings thoy have t•8n 8Mcuted on 8 bggs corrislenl wrth Ihe use of resourts. entral sl8ff costs dIDcai on the b8$is ol time spenl, and dewecaBtk)n charges Ollated on tho ol Ihe awt's Use. Other costs are alktsd based M the spread ol staff cosls. Costs ol geneTatiThJ lunds are c4)sts ir$d in altr8(ng in(ayne, ond those incufftid ift tr8ding 8cliwtles th8t rois• fijnds. Charilable actf4rti8s arn inrr0d in the trust's &1ue4tion opera11$. GovemAnce costs Sndud• the cosls attributat4¢ to the lyusvs ¢xm&41anre wlth consllbjtlonal and stabjw requiroments. Ind9 audit. strategic management aThJ (nJsts' meetsn and Teimburd rewurces expended we inckLryr oflrrncoverth VAT. 1.6 T•figlbl• flx•d ••••l• T8ngiblg fixed 8ssels or8 knItIa me8sur0d Ji CJ)Bt and subseqL• rneawmd at +>)St cff valualty), net (rf d8w8datlon and wy ImrMlnn8nt ¥)8S88. Dewedaucm Is racoJnisthl so as off the cost or valualiffi ol Sets 1888 tsletr rnSIal vak8 over the usofvl bves (w) Iho bases.. Land and bJihJingS Flxlur88, fittros & aquipxTront Strawht lkn& 6.67% to 21)% strhl The o&n tw hJ6s arisVa th• th8rKpJal crf •n asset is dotermined as Ih? dfflerenix tho prJ$ th8 value ofthe as8et. and rerognijed In lh• ststemwll olfinand818LlAIIè8. 1.7 Implmi•rrt ot flx•d •s••t• At 88¢h roporb'ng d8te, thè tharity revi lh8 carrying avwK)unts of Fts tsryibl8 assets lo del8rmir whether there Is any inthc8tl Ih81 tho#e assets have suffffed an IrrpalmnI loss. If any suth indic4bc41 exlsts. the recoNYrat4e ol the assel is 84timated in Cer lo d•temiln• the 8xt¢nt of the IMMnI loss {if any). 1.8 Ca•h and ctsh •qulvai•nts Cash and cash equival13 Inthde cash In hwwj. depo19 hold 81 c81 wlth banks. cAhw short40rn1 Hqukj VeStrrts ongFnal maluritses d Ihro• months or loss, •nd bank o¥•rdrafts. Bank ov•rdr8ts 8r8 shown within Lwywngs in rrlt Ikqbilli•6. lj Flnan¢l•l Intrunhts The chèrfty h85 elected to appty Ihe provlslons ol Soc1k 11 '8&wc Fln8ndal Instrum•nts' aThl Secakn 12 'Ottr Finandal InStruMt8185Uas. of FRS 102 lo all ol its finandal instNmenls. Fln8ndal Instwments ar• rectsJnis8d in th• d)81ill$ balano Sheet lh8 tharity tx party lo I cryitradual prowsions of the in81wmenL Fin8no818S8•ts liabliii05 we (rf18eL IMtr¢ tho n•1 8wthnts wewted in the finan(aal 818témwl8, wh there is a18goly rtirce•ble right lo set off the recognised annts and Ihore bs to seth on a n6t b15 or to real80 tho awt and set#e the lithlty 8bMuiL8OUSty. 11
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 AuntIng poll¢l•• (¢ontlnu•d} Iln•n¢l•l •tsets 8¢ flnandal 088ets. In0 debtorn and cash and bonk b81grws. are inthaty mea8urnd al transactKm prfce Indudiw transactw costs and are subsequenuy carrfed al am(Kllsed cost using the effeCte inloresl melhod unl8s5 the arrangement consbtules 8 finanung transacty'on. ¥kneTe tho tr8nsaclKm L8 measured al the wesent vabo d the future receiOs dlscounted al 8 m8rknt rate d kntwe¥t. Flnand818684ts d8$wfied 88 receivable wlthln year are not amrtlsed. 31¢ fln•ncl•l Il•blllli Bawc finanaal 11a"1rtleS inCding and bxnk kAns are initlally recoJniwJ at transac11 Kwice unlass the 8rr8ngemenl LIs1jtUI&s 8 finanoThJ trans8th"cn. vthafe tha debt instrument is measu1 at tho pre1 value ol Ihe future pgyments dIScnI8d at a markel rale ol InleresL Flnan¢ig1 A8tAiitles dassified as pay81 within fft year are nol Arncrfti. Debt in8twnwnts are subsequentty cBni•J at ihe 8ffe(ar¥e wrter8 rBle method. Trade crndltorn are oblh]ation8 to pay fv FCAl# or serYk•8 that have been acqred In sydlnary c4Jurse operati$ frorn supplie. Arnounts p8yabbe ore clasyfied as (rrent liBIM"lrties If payment is due within or ar or less. If rt. they 8Te Instsnted as non<urTeni Ilabilmes. Trade rxedhors are reccqnLsod inllloly at transadth wice and subsequentty measured 8t am0"$e co81 ng Ihe effective Inleresl Meth. Lknrocognltlon of Iln•ncl•l Il•bllllles Finanual liabilit$ are derecognised when the cwlraclu81 ¢Wgatsws erè or 8r6 dlscharged or anc•llud. 1.10 Empw•• b•n•lll• The cl any unu8ed holday •ntIllnI Is recvdnlsed In the pUd in the wiwoyts's 8wvlce8 are recelv•d. Temlinat beneffls 8r? recognised imm8dlalety as en exp8nse ¥th8n the charity as domonstrabty MmthJ lo lemiln81e the emFAoymenl of an èmployee to prole lern)lnatic benefitB. 1.11 C•pltal and R•v•nu• Gr•nt• ca'tal grants recerved for Ihe ol fixed assels dUled Ihe (bsl of tho 8888ts. Revenue grants re¢ep4ed are m8t(ted again that eXpdItsJfe by be3 inclad in Ir4)MIng resrceS bn tr sts18mt of Finan0 Act$. The related expenditure 18 Inc8 in resourc•s expend¢d. 1.12 O••lgntsd Funds Recouwent of NoULThl Capttal ReseNoS Thls had ba s•t up. undw an OTd8r of the Charity cnmiss•rS in 1986. to lId up the assets th8 trusi over a period of fity yeors in (der rec¥er 8 £45,5 depletion of 8ssets In past years In Ihe fomi of 8 di¥tyg881 of freehdd pmperty. The Charity Commlsslmers Seal Ihls Ctrd•r on 30 Dac*mber 2(W trArt lh• reserve needs to be retsined for the Ptrmanenl Endowr11 ol Ihe T1. Prope Am¢Junts desiwat•d lor lIdIng the Ixopety •ThJ reVaallOn ol the wcwty. 12.
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Crlocal accountlng •stlm•ts• •nd ludg•m•nts ID the 8pplcailM rf the dwws a(unI1n9 polcles. the Twees Jr¢ requkryl to maka I11nts, •81imaltrs and assump1KY abrxrt the catyng amwnt ol assets and &atrAlttes th81 are not Teadlty apparent frm) ottw 8wrces. The tsts"maté8 and assc¢iat•d aswjmpli'ons are ba8ed on hist(Cl 0Xn and olh fa¢$ that ar• ¢sIdered to rel8vant. Aclu81 rosult$ mgy diffw th0s0 esl¥nat8s. Th• eslm#te8 and UIe.ng 4murnplo are rethed on an cryoing ba•ii. Revi8iMs lo acoJJntrTrJ esbmale5 are recognid in th& p•nod in e5ts"rnate is revwd vtheT8 tho Ttiws1 affeds onty thal perbLKI. or tho perKx4 crf the and fulurè porKx16 thre Iho ro?Asion 8ffKts both rTonI and futurn perTrods. In¢om• from donlon• and kngaGI•• UM•¥trbctsd Unr•strlct•d lund• fund• 2024 2023 Oonakni and gft8 Incom• from ch•Tll•bl• •thlll•• Unr•gtrlct•d Unr••trlct•d lund• fuTrd• 2024 2023 Contrlbutlons fnxn re•ld•nl8 He•tsng and eleclriuty wh•rg¢ contn.trIIon$ Irom rosidents 32.497 227,517 34.983 216,963 Gr•nt Sncom• Grant inome 261.374 251,946 Incom• fvom InvMtm•nl• UnrMtrFct•d Unr••trlct•d ¢und• fund• 2024 2023 IrKL¥ne Irorn listed inVets Inccrfne from urtisted investments unreal 9eln C invgstments 23,SS7 3,111 27,770 22,607 2,174 6.609 54,438 31,390 13-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Exp•ndltur• on th•rItl •ctMtI•• expen8 expen•e• 2024 2023 Dlr•cl co•ts D8preciats"on and impaimw Rates & watar rates 38.740 4.107 S2.071 4.234 691 948 4.129 42.367 8.133 25.523 7.788 2.373 415 709 309 37,593 94.073 1,931 122 SubscTipkns In8uranc• Gas & el•clrfclty Legal & wof0ssiLal Repairs & malnlen8c Gordon maintenan Caroline rents15 Postsge & stabmy Telephone & 18X B•nk ch8rg8J Siaff cxjsts Mortgage interest Incid8ntsl exponses 4.070 45,054 15.689 18,113 9.928 3.173 434 974 219 34,197 104.IC 3,221 15.655 303. 283.409 An•ty•l• by fund Unr8strKted fund8 303.1 283.409 mov•m•rrt In fund• 2023 Th8 mtr¥ement kn fvndB18 stated after (*afglnW{c¥thJllty): Fees p8yablg to the chavs aud. - fu the audll of tho ¢hariVs fin(181 8la10mts - other 8ssur8nrA serlies 3.430 52.071 38,740 Audltofs W•mun•r0ffj F••s poyabl• to th• auditrx and 888(Kibt•s: 2024 2023 For audlt ••Thlc•• Jdit of financial staknents ol tho charity 5.200 For oth•r MThlG• 3.430 14-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Tru•t• N0 of ts Trust {or Y pu$ Cl8 lth them) rocW any rffinunwallM rIThj the year. 10 Employms The •verng• rrK)ntrty number olemployees dng Iht y•ar w. 2024 Numb•r 2023 Numbw 11 11 11 Galn• and lo•M• on IMi••lm•nl• Unr••trlcl•d Unrnstrlct•d lund• lund• 2024 2023 GaIn(lOSSes) arfskng Sakn ol in¥8slrnMts 137.237) 17.923) 12 Tx•tl Tho dmrity is fr¢th laxalic rt8 baus0 91 its inccffi• is apF4ieAI ¢arilablo wrrM)Se& 15-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 T•nglbl• flx•d a•Mts Tat•l Colt At 1 JanuJry 2024 dillons Dlsposals R•v8lualk 3.089.782 19.$00 209.443 3.299.725 19.5IXI {52.462} 970,718 {52,462) 970.718 At 31 DK•mb•r 2024 4.080.OCKI 156,981 4.236.981 DW•clOn and Imp*lmMnt At 1 January 2024 Owecwkn'cffl charged In Ihe yoar Ellmbnated in respect ol dlsposa18 Rtvaluatl 116.122 24.945 121,161 13,795 (S2.4821 237,283 38.740 (52,4621 (141.7) 1141,067) At 31 December 2024 82.494 82.494 C•nylng •mount At 31 Deeémbèr 2024 4.080.OIY) 74.487 4,154.487 At 31 Oecembw 2023 2.973.660 88.282 3,(1.912 14 D•b¢orn 2023 Amount• falllnq du• 1 on• y••r. Trade debtLYs Othor dabtOfB Prepa>Thent8 and 8Lxxd Inrjjffle 4,076 18.034 16.109 3.338 21,18S 21.372 15 Current ••••t Inve•tm•nt• 2024 2023 505.082 535.196 16-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Lo•Tr• •nd ov•vdr•fts 2024 2023 Bank IDA 1.222,167 1,255.699 paya wrthwi crn ywf Payable after ¢x• year 36,079 1,186,088 33.41)0 1,222.299 The ng4rn loans •re sered by fixed ¢h8ryes over the prcpwty. 17 Cr•dStor•: am0 fallng du• wlthln on• y• 2024 2023 Nots• Bank loans Other t8X8IIM 8ThJ s181 #ouMIty TJe ueditors 36,079 1,248 2.418 1.933 20,587 33.400 1.623 525 16.086 62,265 51,832 18 Cf•dllor•: •mounl• tallng du• •ft•r m¢r• than on• y••r 2024 2023 Not•• Bwk )6 1,186,088 1,222,299 19 Conn•¢t•d ¢h•ffty Thii r•prnts th• awits ol c1xrA¢d thanty. At l J*nuary At31 2024 D•¢wnb•r 2024 Connethd ¢h•rlty 3.734 3.734 17-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 10 Conn•¢t•d ¢h•vlty fund¥ IConllnu•dl Prnvlous y•ar. Al 1 January At31 2023 D•cemb 2023 Conn•thl ¢harlty 3,734 3.734 R•¥trl¢l•d fund* The restiided fttrKls ol the Charity (xjrnprise the unexpended of donations 8rKI grnnts hefvj on Irust subj'ect lo ¥wfic IonS by donors 8$ lo how they m8y bo used. A grant was Pfowd8d lo the charity lor £70.¢) towards the tsAding of a>ttag68 7th is rnpayatle rf the IXDpeity is wltrth 10 yearn ol the grant b.n9 received. Al 1 J•nuary Tran 2024 At31 2024 21,OC (7.0001 14,01)0 Pr•vlou• y•ar. At 1 January Tran•f•rn 2023 At31 D•rnb 2023 21,000 21.0(NJ 18-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Endowm•nt fimds. d•Jlgnal•d These are endownent funds Iljnds vthkh are material lo ts chartys ac'vrtl¢s. Endowment funds repre5enl assets wknbch musl be pwmanenuy by the tharity. Inoyne allsing on the endowment funds can be used in aordanCe the ot4ects ol tho thanty and is MiCded as unr•stnded inc4)m8. carAtal ga3 or 106SaS 8ri6ing M th8 as68ts fm of tho fund. At 1 J¥nu•ry 2024 Tr#1• Galns and At31 2024 1.471.162 1.111.785 2,589,947 Prnvl¢)u• y•ar. At 1 JaThury 2023 Trnn#f•rn Gth• •nd t31 D•umb•r 2023 125,636 1,345,524 1,471.162 22 Unr••trlct•d fund• The in¢Thie fvnds ol the chadty Inckkle tho fcknng denatsd have been tyjt cl unrestricled fur4Js by Tru8te88 for 8pecbfic purposos: Al 1 J•nu•ry In¢omlThg R•soure•• 2024 r•I¢yJrc •xp•nd•d G•ln• and At31 loM•s D•wnb 2024 Ge4w81 ftJrKIs 1,067,844 315.812 <303.CW) 137,t371 1,043.353 1.067,844 315.812 {303,IM) 137,2371 1.043.353 Pr•vlou$ ymr. Al 1 January Incomlng RMiurc 2023 r••our¢ •xp•nd•d G•lM and At31 D•c•mb•r 2023 fund$ 1.068.340 263,704 1283,409) (7,9231 7.132 1.(0.712 7.132 1.068.340 283.704 283.409 (7911 1,(O7.844 19-
GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Anitysl• of n•t ••••t# fvnd• Unr•thct•d Endonent R•Jlrfcted Endowment fimds fvnd¥ fund• fund• dMl9nated gen•rnl 2024 2024 2024 2024 At 31 D•G•mb•r 2024.. Tangibkn assets CurTenl a$601#bIllIeI) L9 tsrrn 8bNI¢S 1,550.540 678.1 11,186.0881 2.589.947 14.0fy) 4, 154.487 682.635 (1,186.088) 3,734 1.043.353 2.589.947 14,Qly) 3.734 3,651.034 Unr••lrl¢t•d Endtyrnnt R•strlct•d Endowm•nt fvnd• lund• lund• fund• dMlqnat•d g•n•ral 2023 2023 TrA 2013 2023 2023 At 31 D•c•mbor 2023.. Tanglble assets Cuffont assetsllknbthtie•> Lcmg tsmi labllll8J 1,569.780 720,363 {1.222,299) 1,471,162 21.lJ(Kl 3,C61.942 724,097 11.222.299) 3,734 1,C67.844 1,471,162 21.(XK) 3.734 2,563.740 Tho unrnalwl gans repr•sts inuease kn the v•hA ofthe inve8trnts over trr $L The grnnts are r•payaLqo Up dispo (rf thé sxopwty. Rat• p•rty tr•nMctlon¥ Ther• were rK> di8¢kJsai4e rnlated paty lrnn8adon8 durlng Ih• rI2023. non•k -20-