charty￿stra￿DTr numb•rl18417S IEDok*tyd And W*lMI 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 thdfaTrrn￿l 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 yn￿Y wth th¢ c>)nslbtutbtin. the Charfbe$ Ad 2011 and Ihè Slatèment ol Rerrynrnerthd Pr¥ct6ce. "AcCWn￿r￿￿ and R•F*Xing by ChariD"•S". 188ued in M8r¢h 2CQ5. The a￿¥￿ts prep8rgd rwesenl Gkwarfs Tr￿t and Incffj￿Yr8tfj lh• h'nk•d GI￿$ Endtr4b*d Fund. The ccthp8r8kn8 arn thDs• 91 Trust ErKlo4wd FU￿1. ObJ•cUv•• •nd •dl¥lll Thè Trusi was Sel up Sn 1824, with its Trl￿tea• drawr from leading Angliean and NC￿￿￿10￿1$t Churchrnen. Thdr rd6 Was to a(Iminister tho TNst for tha PLry>Sa ol affrKding reh&f and ￿￿eCt￿)n to ptr)r, awa, and g￿ty p•r8on8. The firni were 8ndent ¢cll8ge¥ In slee1K￿8• Lan•, Blrmlngh8m, ￿￿ntUal￿ made way for the mingh*n G￿er81 Hospital. Further 8lmshouso$ w*re efKied in 18S3 in &edhouse Lane. but developynenl evonlually Ihe T￿￿1888 to acquire the presanl srte in Chesler R¢Md, StrtI￿} Cc*ffiald w*•r• lh• pro￿1 •kn)$￿se$ were iwift in 1932. On the 2n(1 May 2017 Ihe was ren8me(I Sar8h Gkwer Close. Th• In￿1 plta8anl t*J*ty ol Imrtod m•ans and can hr￿e 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¥ WI￿TlY111. and Ihgt t fn alle lo kv• Independeni live8 The Tnjstees have thje rtyard to guidance issued ty the Charity CunMi￿on in d￿'dIng aGbwbe8 charity shwkl undwthko. Acllwi￿s The 8dvltlg$ ￿ the Tru81 Jrg fundod by Investment kncc*ne cu)trlbullc￿s 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 •chiV￿mentS egainsl Ob￿NeS 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 ￿ld￿lon 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 r￿ul 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 p￿icY 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 C￿8•d￿r 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$. Pl•n• lor firtur• p•rtod• In 2025 we are Introducjng a SeThicè Chèry for al ol tho ¢oltsg88 in the Chxo. Thrd ad(*IKThI inwno alk￿ us to ueole Schedu￿ for r￿￿ne m8inlen8nce 8nd plbnned up3rades. The items these scheduks a￿ Flanned rodwalion ofCott8ge8 rrfurbi$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 d*n9￿ rt8 nam• to Glows Tnjsi End(YM)d by a do￿1 dated 24 No¥wnbw 2015. Tho Trt*te88, who are 8180 Iho dlreL*c*8 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$s (R￿Gnad 28 Jawary 20251 IRow9n•d 21 May 20241 (Reygned 17 September 20241 Christ￿6r Haslbm Jan 8ry¥rel Vlckery chn5lL￿or F8w¢•tt {*￿￿{nI0d 25 Juty 2024} 1I4winted 23 July 20241 {AppJinted 28 January 20251 RecnJllm8nt and 8pp0htft￿ ollwsletrs The Trust is mgnaged by118 Truste•8. who onc• appL4nt•d remDln h ploc• unl11 to fcrfm8*y r•s*n. Now Truateu are appointed by inlc*mal means. The Tru8190s' ¥me 8nd effc*ts we nL* remunwatsd. 8fe on 8 pJrely v(*Jnt8ry bA4$. P John#cfi l• wponth the day lo day man•Jemenl of the tharfty. Oryan188tbono1 stnKt Thé thanty 16 a ontsty *ilh Gk)vf*8 Tntst EndtYA*d Fur#J. Relalknishlp wllh rglaledparfies There are no related paty trBn4adkin3 req￿ling i*xknwe. Employ•• Invofv•m•nt The charitys poky is to •nd •mpby••s, unkn￿. •tsff •r#l •1 metings, nwttèrs likety to affect emt*Jye85' Interests. kifcfflrth of rn8tters cl c¢nwt to ernklo￿ 18 Itwh Infrrn¥M twl8llns ond rwls seèk to ath￿ve 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¥*np￿YS 8rt1cl8s, a re￿lU￿On Vcw￿n9 Ihal LMH Limited TIA Trevty J￿08 & 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 Tw*t•• 1 J￿Y 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 lu￿ted KlrydNn Gweraty Accepled Ac¢ounlkng Pr*fjcel. 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 Inc￿￿ng AFV&￿tIOn ol Iwow￿$, intheiThJ th Income and ex1￿•dIl￿re. of charttabkn ojrnpany fcf Ihat year. In [n￿ring Ihes8 finandal stblomwts, th• Tru￿0•$ 8r• rwSr•J to: - sdeci suitsble &C￿￿ntIng wliao$ 8nd th¢n awAy thern r￿n$￿Stan0￿. - obstryts the methods 8n¢J pthdpkns In Ihfj Charibe5 SORP; - mako 5udgomon18 and esUmates that ar& reawatrAe and rKL*Jent - stst? 8PF4ic8tl8 UK Accwnting Stsndards hJ¥e Ixon fiJ*Nertl, to 8ny m8twial doporlurnB dlsiaosed 8nd eyFAained In Ihe flnanc4al sl8lemonts.' and . yepare Ihe finanrial on th? 9rdng c4mc*m baals St 08 Inapprwl8ts Ihat the c*aifty wll rthb"nu• in op¢raI#￿. any Ume thè financial [KI￿￿on ol thè chathy and enab18 them to ensure Ihal the finandal sLitements comrty th Crynpanb88 Act 2006. Thoy ar• altso rosponwt40 for sal•guarding tho assats ot lh8 tknanty and he￿(* for iaknng re8s(Thble 8teps thg prevwtion ond da1￿￿On of fraud and other Il￿gUI9r[tso$. 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 D￿emb•r 2024 c4Jmwl8e ￿ slatwY￿nI of financial actsvilies. balan￿ sheet and notes to th* fm•ndal statemen c*Jding 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, in￿dIng Fina￿$81 Rwting SIAntlard 102 Th& Fin•nwl Reporfvng Slenderd In the UK wid Reputslr of Irel8nd {Unrie(I lQn9drxn Generaty Accepted AcCryJn￿n9 Pradic*l. 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¢ $tsnd8rd5 ore lurlher described in the Audito*$ re*sp￿S￿￿rtles for audil the financl81 st818m8nls 8•clknn of reF*rt We are inder*ndenl 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 I￿11￿1 our other ellicd res[￿si￿.￿.tieS in ao)ydance vthh Ihese requirements. We bdieve tr*t the 3￿j11 •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 rek9t￿g to ¢y th￿dI16￿$ that, IndI￿rtu31Y c* ￿ladI¥•ty. may cast sgnificant dcyjbl on the charivs ablty to conlinue as a f(x 8 wod ol at knst ffi￿thS from ￿en th• fin8noal statwnents are aulhNised fl￿ i&we. Our resp￿s￿bIl￿1eI and the respcrtL￿*1Sj of th? Twsl•¢8 r•8p•cI lo g0kn0 (xxKem d88thbod In I relovAnl 88ckn8 of thi8 r•t*yL 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 fin￿da1 stat•ment8 do•& nol cover ts cther infom)atic¢) w• do not 8xwe8s any fr ol assuiance thefton. Our f8sp0nw￿hfy L8 to rnad thé othér inliThatK)n and. in doing so, Cc￿51der 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 inccosisleTrc￿s apparent mattli81 mlssthtements. arn requlred to deternilrn vthelher thls glves ris• to a m•wial mi$8t•lwn•nl In th8 financièl st•l•mw)ts Ih8ms•fv•s. N. based ors th• work w• ha￿ wlomthj. cg)ndud8 Ih•l there We to rep(xl in this re9*d. M•n•rn on *thlch w• •r• rewlr•d lo r•port by •x¢•ptlon W8 hav8 noihing to r8F#Nt In f8SP8d of lh6 lolowing maltws in ￿lati￿) lo tho Charitles (Accwnts and Reiyytsl Regulations 2008 requires us to report lo you tt, in our orAnion.' Iho Informal￿n 9p4on In Iho f￿a￿LIa1 6tatamonts ￿ In0)n￿81•nI in any mwal r•6p•¢I wrfh th• Tr￿108$. report., L* suffio•nl rord•: or we have rawvod al lh¢ infomialion •rKI rnqiMr• trtyjr • 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 ft￿lY in thg st8tement d Truslees. re¥Knslbllllles. the Tnjstees. vtho 8rg also the olTe￿Or8 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•r*8sary lo emot4e the wepor81icm cl financi81 $tAioments Ih8t •re free frcrfn Mat￿81 rTwsststemenl, ￿ether due to fraud cr error. In prepadng tht fin8ii¢wI st8tem?nts. the TnJ51ees are reSp￿)51l￿8 888e8￿ng the th8rtty's 8billty to C4)ntinue as a golng concwn, d48ekndfig. as appl1eab￿. matters rabat&J to going c<>nc4m and the g tsM¢8m basis of accomb'ng ufil￿ tha TnJsle85 •lhw intand io liquidalts tho th8n18ble emip￿Y tr to C8a68 cper•lkn8. ry have no r&dlslc bul to do Go. Audltsrf• r•BpM•lblllU•• frtth• ludlt of th• Ilnand•l #t•t•rn•nts We h¥v? baen Bppointed 8$ •udltLV under sedlon 144 of Ihe c￿111101 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, Whell￿r 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 *￿$￿. MS8ststements can arlse frcrfn fraud c and are considernd Mat•￿81 If, indi¥bJudty cff in the aggregaie, they couhj r8a80nably h expected lo infknen the ￿n￿niC deciwons crf taken ¢y) the basi8 of these ffinaniial statements. The extent to thlth our voc8￿r•S are c4pai4• of detedlw IwLl*lleg, frJJd.18 delalb8d beknw. A fvrth•r descxipbon d our rvsPmSit4hts'6s is av8l8bb on th8 Finand81 Rowtiry CcAJnd'6 wabs11• 8L' https:11 W.froL¥g.ukl8udilm6FK)n$i￿'1￿e8. 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 Rep￿15) 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 t*Jdy. 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 t*haWof LMH Ac(>JunLints knmited TIA Trovw Jone8 & Co. Sta￿￿AudItor 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 rAjmp￿Y 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 I￿￿51ments Cash al bank WKI kn hwKI 14 15 21.185 9)5,082 218.633 21.372 $35,196 219.361 744, 775.929 Crndltorn: •moynts f•lUno wlthln on• ￿•r 17 {62.265) (51.832) N•1 cmnt •M•t• 724.097 Tot•1 ••••ts IM• curr•Tht Il•bllltl•• 4.837,122 3,786.039 Cr•dllorn: amounts lalllng aft•r 11.186,0881 11.222.299) 3.651.034 2,563.740 Th• fvnd• of tho ¢h•rfty End¢y*menl fvnds- connected tharlty Endfyrni fiJnds- dewgn8lo Restrieied income lundj Unrethdad ￿ndS 19 21 3,734 2,589,947 14.IMI 1,043,353 3.734 1.471.162 21.000 1.067.844 22 3.6S1.034 2.563.740 Tha company is •mlrtbd lo Ihe ax6mptic*) from th• a￿]11 rowir8mMI ccffjthin•d in s•¢li￿ 477 of tha Companio8 Aci 20&3. tr the ￿r eTh5ed 31 O•c•mber 2024. The athovAedges h8r re¥M)n￿￿11￿.eS fc* comptys'ng wrth the r￿u￿rem￿ti of the Crynles Ad 2￿6 wilh rnspecl to ¥Gwtsng re(xxds arwj preparati￿ ol 1]na￿l81 statomants. The members have nol reqUI￿d the ctvnpany trj cètsln an audli of its finandal 818tern8nts urthf tho r￿lfam•n￿ ol tho Compani08 AL* 2006, t￿ tho yw in queslion in a¢ctyd4n￿ ￿ ￿Ction 476. Thoso finandal statements have boon syepared in •cc(wd•n¢• ¥Ath th• 8pplkxl¥be to C(wnp￿s0s sutl•¢t to the small ¢c*MpanSfjs regirn•. The iknrKlo1 statem*ts werts apkYu¥ed by the Truste86 on 1 2025 P•mela Johnston Thi¥ts• Cryany rtywtrnlion nwtknr 09537230 IEn*nd and W818s) GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢counllDg poll¢l Ch•rlty Inforn)•tl Gh)ve¢s Tnjsl is a privalo Ca)mpany limited by guwanloo inctypor8W in Ervaland and Walès. The r•wtw•d offKe 1$ Sgrah (4ow House. 31 Swah Glo¥er Ck*e. sLrtl￿ Cokjndd. West Mldknds, 873 ￿W. 1.1 Accounllng ¢onv•ntbon The acc￿nts have been pre￿Ied in ¥(xyJrd8nc* wllh the thorfVs go4vniw dowmert the Ccffnpanles Act 20[￿ and "Acowntlng and Réwfjng by Chariti8s: Ststemént of Rth))mmended Praclice ap￿icatI￿ 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 [*0￿1(￿ ￿ th• SORP for thwhles •ppI￿n9 FRS 102 UKtht8 8￿1th 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 n￿n(led to the r￿areSt £. The finandal &aiemen(8 have been prepared Ur￿eT the hisl(wlcal ¢crft c￿)Ven1k￿. Imc*Jified to indudè tr rev￿Y0￿.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 ap￿￿1￿9 lh• Ilnandal sialements, the Truste85 have a roasonabla expedalhin thai the thadty ha5 adequate r¥s￿rCeS to continue in c4)eration¥l existence for the fLYeseeable ftAure. Thus th• Twal )ntinue to 8(lopt Ihe gcing cc¥Kem b8sls ol 9￿n￿"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• Incc*ne Is rwras•Y the d￿rIty l$18gally ontillod lo Fl after •ny perf(Ymgnce widilKXW have bar￿ mol, the arno￿1$ 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• L*arity has been nc41r￿1 the don8bon, vnle5s perfcffi18nc8 condth'cms reqvire dthrr81 of th8 aMc￿rtL Inrxime tax reAovw8ts19 rela￿On to don8tions re￿IVed under Grft Aid or deeds of ¢oven•nt Is recfjgnised 8t the time of the donetion. Lagacles are recognlsed M r#c•lpt or Oth￿Is0 if the (*affty has boen n(Alf￿d of an impending dL•trf￿rtlm. 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 A￿D￿ntIng 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 resourt*s. entral sl8ff costs dIDcai￿ on the b8$is ol time spenl, and dewecaBtk)n charges Oll￿ated on tho ol Ihe awt's Use. Other costs are alk￿tsd based M the spread ol staff cosls. Costs ol geneTatiThJ lunds are c4)sts ir￿￿$d in altr8(*ng in(ayne, ond those incufftid ift tr8ding 8cliwtles th8t rois• fijnds. Charilable actf4rti8s arn in￿rr0d in the trust's &1ue4tion￿ opera11￿$. GovemAnce costs Sndud• the cosls attributat4¢ to the lyusvs ¢xm&41anre wlth consllbjtlonal and stabjw requiroments. In￿d￿9 audit. strategic management aThJ (nJsts' meetsn￿ and Teimbur*d rewurces expended we inckLryr￿ oflrrncoverth VAT. 1.6 T•figlbl• flx•d ••••l• T8ngiblg fixed 8ssels or8 knItIa￿ me8sur0d Ji CJ)Bt and subseqL• rneawmd at +>)St cff valualty), net (rf d8w8datlon and wy ImrMlnn8nt ¥)8S88. Dewedaucm Is racoJnisthl so as off the cost or valualiffi ol ￿Sets 1888 tsletr rnSI￿al vak*8 over the usofvl bves (w) Iho bases.. Land and bJihJingS Flxlur88, fittros & aquipxTront Strawht lkn& 6.67% to 21)% str*hl The o&n tw hJ6s aris￿Va th• th8rKpJal crf •n asset is dotermined as Ih? dfflerenix tho pr￿￿J$ th8 value ofthe as8et. and rerognijed In lh• ststemwll olfinand818L*l*AIIè8. 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 Irrpalm￿nI loss. If any suth indic4bc41 exlsts. the recoNYrat4e ol the assel is 84timated in C￿er lo d•temiln• the 8xt¢nt of the IM￿M￿nI loss {if any). 1.8 Ca•h and ctsh •qulvai•nts Cash and cash equival￿13 Inthde cash In hwwj. depo￿19 hold 81 c81 wlth banks. cAhw short40rn1 Hqukj VeStrr￿ts ongFnal maluritses d Ihro• months or loss, •nd bank o¥•rdrafts. Bank ov•rdr8ts 8r8 shown within Lwywngs in ￿rr￿lt Ikqbilli•6. lj Flnan¢l•l In*trun￿hts The chèrfty h85 elected to appty Ihe provlslons ol Soc1k￿ 11 '8&wc Fln8ndal Instrum•nts' aThl Secakn 12 'Ott￿r Finandal InStruM￿t8185Uas. of FRS 102 lo all ol its finandal instNmenls. Fln8ndal Instwments ar• rectsJnis8d in th• d)81ill$ balano Sheet lh8 tharity t￿x￿ 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 an￿nts and Ihore bs to seth on a n6t b￿15 or to real80 tho awt and set#e the lithlty 8bMuiL￿8OUSty. 11 GLOVER'S TRUST INCORPORATING GLOVER'S TRUST ENDOWED FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A￿untIng poll¢l•• (¢ontlnu•d} Iln•n¢l•l •tsets 8￿¢ flnandal 088ets. In￿￿0 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 effeCt￿e 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$wfied 88 receivable wlthln year are not amrtlsed. 3￿1¢ fln•ncl•l Il•blllli Bawc finanaal 11a￿"1rtleS inC￿ding and bxnk kAns are initlally recoJniwJ at transac11￿ Kwice unlass the 8rr8ngemenl LI￿s1jtUI&s 8 finanoThJ trans8th"cn. vthafe tha debt instrument is measu￿1 at tho pre￿1 value ol Ihe future pgyments dISc￿nI8d at a markel rale ol InleresL Flnan¢ig1 A8tAiitles dassified as pay81 within fft year are nol Arncrfti￿. Debt in8twnwnts are subsequentty cBni•J at ihe 8ffe(ar¥e wrter8￿ rBle method. Trade crndltorn are oblh]ation8 to pay fv FCAl# or serYk•8 that have been acq￿red In sydlnary c4Jurse operati￿$ frorn supplie￿. Arnounts p8yabbe ore clasyfied as (￿rrent liBIM"lrties If payment is due within or ar or less. If r￿t. they 8Te Instsnted as nonThent8 and 8Lxx￿d 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 ￿ng4￿rn loans •re se￿red by fixed ¢h8ryes over the prcpwty. 17 Cr•dStor•: am0￿￿ fallng du• wlthln on• y• 2024 2023 Nots• Bank loans Other t8X8IIM 8ThJ s￿181 #ouMIty T￿Je 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•pr￿nts th• awits ol c1x￿rA¢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 I￿￿onS 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 a￿ordanCe the ot4ects ol tho thanty and is MiC￿ded as unr•stnded inc4)m8. carAtal ga￿3 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 JaThu*ry 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 de*natsd 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 RM*iurc 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 Endo￿nent 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$6￿01#bIllIeI) L￿9 tsrrn ￿8b￿NI¢S 1,550.540 678.￿1 11,186.0881 2.589.947 14.0fy) 4, 154.487 682.635 (1,186.088) 3,734 1.043.353 2.589.947 14,Qly) 3.734 3,651.034 Unr••lrl¢t•d Endtyrnnt R•strlct•d Endowm•nt fvnd• lund• lund• fund• dMlqnat•d g•n•ral 2023 2023 TrA 2013 2023 2023 At 31 D•c•mbor 2023.. Tanglble assets Cuffont assetsllknbthtie•> Lcmg tsmi labllll8J 1,569.780 720,363 {1.222,299) 1,471,162 21.lJ(Kl 3,C61.942 724,097 11.222.299) 3,734 1,C67.844 1,471,162 21.(XK) 3.734 2,563.740 Tho unrnalwl gans repr•s￿ts inuease kn the v•hA ofthe inve8trn￿ts over tr￿r ￿$L The grnnts are r•payaLqo Up￿ dispo￿ (rf thé sxopwty. R￿at•￿ p•rty tr•nMctlon¥ Ther• were rK> di8¢kJsai4e rnlated paty lrnn8adon8 durlng Ih• ￿rI2023. non•k -20-