Registered No. 1169784 GC FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
GC FOUNDATION CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31- MARCH 2021 Charity Information Report of the Trustees Report of the Independent Examlner Statement of financial activitles Balance sheet Notes to the financlal statements
GC FOUNDATION CHARITY INFORMATION FOR THE YEAR ENDED 31" MARCH 2021 TRUSTEES: Julia Thomas JamesThomas Joshua Thomas REGISTERED OFFICE: Lea Farm Gate Street Bramlev Surrey GUS OLR REGISTERED QIARITY NUMBER: 1169784 INDEPENDEKf EXAMINER: M. CrSdland BAIHonsl FCA Scott Vevers Ltd Chartered Accountsnts 65 East Street Bridport Dorset DT63L8 BANKERS: CAF Bank Page I
GC FOUNDATION REPORT OF THE TRusfEES FOR THE YEAR ENDED 31" MARCH 2021 The Trustees present their report together with the financial sL*ements of the Charlty for the year ended 31 March 2021. The accounts have been prepared in accordance WFth the accounting policies set out in the notes to the accounts and comply with the Charity's 8overning d0Ment, applicable law and the requirements of Accounting and Reporting by Charitses: Statement of Recommended Practice applicableto tharltles preparing their accounts in accordance with the Financial Reportin8 Standard applicable In the UK and Republic of Ireland IFRS 1021. 08JEcfivES ANO AcfiviTIES Objects The objectlves of the Charlty are the relief of those In need by reason of age. ill health, dlsabillty, financial hardship or other disadvantage in such parts of the world as the Trustees May from time to time thlnkflt Indudin8 but not byway of Ilmttstlon through the provision of support. fLsnds, 8oods or seNlces to tharltles or other or8anlsation5 worklng to help those In need. Alms, Oblectfves, Strategles and Actfvltles for the Ye•r The policy of the Charity is to fulfll its objects by making grants to organisations who provlde rellef in accordance wlth the oblectlves of the charty- In plannin8 actiwties for the year, the Trustees kept in mind the thaffty Commlsston'5 guidance on publlc benefit. ACHIEVEMENTS AND PERFORMANCE Ch•rltable Actlvltles The Trustees made grants to Gentlecare, a Not for Profit Or8anlsation based In South Africa, which provides care to very needy people, the vart majorlty of whom are close to the end of their lives, as well an outreach programme to those in the community. Gentlecare's main actlvity is to care for approxlmately 30 re51dents at any one time in Its residentlal care fadllty. Gentlecare lialses closely wlth the health authorities in South Africa. It provided good care to its resldents and patients, and ovèrcame many ¢hallerv4es created by the Covid 19 pandemiG FINANaAL REVIEW Financlal positlon Total recelpts for the year amounted to £45,02812020- £50.001) and net outgoing resources were £9,29212020- £10.008 Incomin8 resource51. Grants of £53.60012020- £39,568) were made during the year to Gentlecare. Unrestricted reserves at 31 Marth 2021 were £11,50912020- £20.8011. Reserves Pollcy The Trustees have reviewed their policy, tsklng into account recommendations by the Charity Commission. so as to establish an atteptsble level of reserves which is the cornerstone of the prudent flnanclal management of the Chartty. The chartty has a policy of seeking to have reserves equal to three months of annual spending and grants. At 31 Marth 2021free reserves amounted to £11,509. Parfe 2
GC FOUNDATION REPORT OF THE TRusfEES FOR THE YEAR ENDED 31- MARCH 2021 STRucfuRE, GOVERNANCE AND MANAGEMENr Governln8 Drfument The Charlty was registered as a Charitable Incorporated Organisatlon iaoi on 19 October 2016 and ommenced operations immediately. Trustees Trustees are elerted and removed by the Board of Trustee5. There is no maxlmum number of Tnjstees. The minimum number shall be three. The Trustees who seNed during the year are Ilsted on Page l. The power to appoint new trustee5 is vested in the existing trustees. Futuretrustees wlll be selerted to ensure the board maintains a suitable mix of skills and experlence to continue its work and wlll be given an appropriate 5nductlon Into the charlty. Trustee5 attend tralnlng courses where It Is considered necessary. Organlsatlonal Structure The charity is managed and operated by the board of Trustees who meet at least three tlmes per year. Major Rlsks The Trustees have carrled out an assessment of the major rlsks to which the Charlty Is exposed. Procedures and systems are in Pla to mitigate these risks. Due to the nature of the charlty, the ¢ovid-19 pandemic has had no slgnlflcant effert on Its operation or finanS. STATEMENT OF TRUSTEES, RESPONSIBILMES The Trustees are required under Charlty law to prepareflnandal statement5 for each financlal year whl¢h glve a true and fair view of the state of affairs of the Charity and of the flnancial activities of the Charlty for that perlod. In preparlng those flnandal statements, the Trustees are requlred to.. select sultable accountln8 polides and then apply them consistently* make judgements and estimates that are reasonable and pwdent,. state whether applicable accounting standards have been followed, subject to anv material departures dlsclosed and explalned In the flnancial ststements,. and prepare the financial ststements on the going concern basis unle55 It Is inappropriate to presume that the company wlll contlnue In buslness. TheTrustees are responslblefor keeplng proper accountlng records whlth dlsdosewlth reasonable accuracy at any time the finanaal position of the Charity and to enable them to ensure that the flnanclal statements comply wlth appllcable laws and regulation5. They are also re5pon51ble for ensuring that the Charlty maintains an adequate system of internal control designed to provide reasonable assurance that assets are safeguarded against loss or unauthorised use and to prevent and detert fraud and other irregularities. ONBE LF OF THE BOARD: Julla Thomas- Chalr of Trustees Date: i ? zi P3
INDEPEND EXAMINEW5 REPORT TO THE TRusfEES OF THE GC FOUNDATION FOR THE YEAR ENDED 31" MARCH Z021 I report to the trustees on my examination of the accounts of the GC Foundation for the yÈar ended 31 March 2021. which are set out on pages 5 to 6. Respertl¥e re5ponslblllil¢s of trustees and e¥amlner As the charity trustees you are responsibleforthe prepar*ion of the accounts in accordancewlth the requirements of the Charities Act 20111.the ACV). I report in respect of my examinatlon of the CharlS accounts carrled out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dlrertion5 given by the Charity Commission under settion 14515llbl of the Act. Independent examlnefs thtsment I have completed my examinat50n. l Confirm that no matt•r5 have come to my attentlon In connection with the examination givi me cause to belie that In any matsrial respect.. Accounting records were not kept in respert of the Trust as required by sertion 130 of the Art; or 2. The accounts do not accord with those records: or The accounts do not comply with the applicable requirements concernlng the form and content of accounts set out in the Charitles IAccounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true and falr view whlch Is not a matter consldered as part of on Independent examination. I have no concerns and have come across no other matter5 In connectlon with the examinatlon to which attentlon should be dr¥wn in this report In order to enable a proper understanding of the ac¢ounts to be reached. M. Cridland 8AIHonsl FC4 Scott Vever5 Ltd Chartered Accountsnts & Registered Auditors 65 East Street Bridport Dorset DT6 3L8 Date.. 23 August 2021 Page 4
GC FCMJNDATION STATEMENT OF FINANCIALAcfNITIES FOR THE YEAR ENDED 31ST MARCH 2021 Unrestrltted funds 2021 2020 Incomefrom: Donation5 from individuals and in5tÈtLrtions 45.028 50,000 Investments - bank interest Total Income 45,028 So,1 Expendlture on: Charltable artlvltles Grants pald to Gentlecare Bank charges overnance 53,600 144 39,568 125 osts Independent Examlner's fees 576 300 Totsl expendlture 54,320 39,993 Net Income {9,292} 10,Ci18 Total funds at I" Aprll 2020 Total fundsat 31" March 2021 20,801 11,509 10,793 20,801 All amounts derive from continuing artivities. All gains and losses reco8nised in the period are Induded in the statement of flnandal actlvltles. BALANCE SHEEf AS AT 31sr MARCH 2021 2021 2020 Current assets Cash at bank 12,085 21,101 Less creditors: amounst fallln8 due wlthin one yeaf Attruals 1576) 13001 Net assets 11,509 20,801 Approved by the Trustees on .-..... la Thomas Chair of Trustees Pale 5
GC FOUNDATION NOTES TO THE FINANaAL sfATEMEl¥fS FOR THE YEAR ENDED 31ST MARCH 2021 General inforniatlon The Charity 15 a charitsble incorporated organisation. incorporated In England and Wales under the Charlties A¢t 2011. The address of the registered office is provided In Reference and administrative details. Details of the charitys operations are provided in the Report of the Trustees. Atcountlng pollcles The principal accounting policles adopted* judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 2.1 Basls of preparatlon The charity constitutes a publlc benefit entty as defined by FRS 102. The financlal ststements are prepared under the historical cost convention and in accordance wsth Accountin8 and Reportlng by Charltles: Statement of Recommended Prattice applicable to charities preparing thelr accounts in accordance wlth Financial Reportlng Standard appllcable In the UK and Republic of Ireland IFR5 1021 (Charltles SORP IFRS 10211 and the Financial Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021. The accounts Include the result5 of the charlty'5 operations whlch are descrlbed In the Trustees, Report, all of whlch are contlnuin8. 2.2 Income Donatlons and grant Income are accounted for on a recelpts basls. All other income Is accounted for on an accruals b351S. 2.3 Expendlture Expenditure is Included when incurred. The sole charltable actlvity Is grant making and all costs Incurred relate to this activity. Expendlture on Charftable ArtItIeS Grants of £53,600 were made to Gentlec3re in the year. Gentleore is a not-for-profit organlsation re8lStered in South Africa as described in the Trustees, ReFQrt. Employee costs There were no employees during the year. No Trustees recelved any remuneration or expenses during the year. Pap6