Registered No. 1169784 GC FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GC FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charlty Information Report of the Trustees Report of the Independerht Examiner Statement of financia5 activities Balano sheet Note5 to the flnancial statements
GC FOUNDATION CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES: Julia Thomas James Thomas Joshua Thoma5 REGISTERED OFFICE: Lea Farm Gate Street Bramlev Surrey GU5 OLR REGISTERED CHARITY NUMBER.. 1169784 INDEPENDENT EXAMINER: M. Cridland 8AIHonsl FCA Scott Vevers Ltd Chartered Accountants 65 East street BTtdport Dorset DT6 3LB BANKERS.. CAF Bank Pa8t I
GC FOUNDATION REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustses present their report together with the financial statements of the Charity for the year ended 31 March 2024. The accounts have been prepared in accordance with the accountlng policies set out in the notesto the accounts and comply with the Charlty'5 governlng document, applicable law and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in ?ccordsnce with the Financial Reporting 5tsndard applicèble in the UK and Republic of IrelaTrd IFRS 1021. OBJEcfivES AND AcfiviTIES ObSett5 The objectives of the Charity are the relief of those In need by reason of age, 111 health, disability, financial hardship or other dlsadvantage in such part5 of the world as the Trustees may from time to tlme think fit Including but not by way of lirnitstion through the provision of support, fijndsi goods or services to charities or other organisations workin8 to help those in nèed. Alm5, Objectives, Strategies and Artivities torthe Year The policy of the Charity is to fulfil its objects by making grants to organisations who provide relief in accord3nce with the objectives of the charity. In pl3nning activities for thè year, the Trustees kept in mind the Charity Commission'5 8uidance on public benefit. ACHIEVEMENTS AND PERFORMANCE Charitable Attivities The Trustees rnade grants to Gentle¢are, a Not for Profit Organisation based ift South Africa, whith provides care to very needy people, the vast majority of whom are close to the end of their lives, as well an outreach programFne to those in the community. Gentlecargs main actiwty is to care for approximately 30 residents at any one time in its residential care facility. Gentlecare liaises c105ely with the health authorities in sOh Africa. It provided good careto t5 residents and patient5. including returning an increased number back into the community. It overtame many challenges in part by becoming Increasingly self-reliant In terms of electricity supply, through solar pane15 and lithium batter(es which were installed during the year. FINANaALREVIEW Frnancial positton Total receipts for the year amounted to £55,27712023 - £45,278) and net outgoSng reSoUrS were £15,148 Inet incoming resources 2023 £9,526). Grants ot £69,66012023 £35,000) were made during the year to Gentlecare. Unrestricted reserves at 31 March 2024 were £11,10712023 - £26,255). Reserves Policy The Trustees have revlÈwed their policy, taking into account recommerÈdations bythe Charity Commission, 50 as to establish an acceptable lèvel of reserves which is the cornerstone of the prudent financial management of the Charity. The charity has a pollcy of seeking to have reserves equal tg three months of annual spending and grants. At 31 March 2024 free reserves amounted to £11,107. PagÈ2
GC FOUNDATION REPORT OF THE TRusfEE5 FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT 6overnln8 Dotument The Charity was registered as a Charitable Incorporèted Organisation ICIOI on 19 October 2016 and commenced operations immediatelv. Trustee5 Trustees are elected and removed by the Board of Trustees. There is no maximum number of Trustees. The minimum number shall be three. The Trustees who Served dLFrlng the year are listed Dn Page l. The power to appoint new trustees is vested in the existing trustees. Future trustees w511 be selerted to ensure the board maintalns a suitable mix of skills and experience to continue its work and will be given an appropriate induction into the charity. Trustee5 attend training courses where it Is considered necessary. Organisational Strurture The charity is managed and operated bythe board of Trustees who meet at least threetimes per year. Major Risks The Trustees have carried out an 3ssessment of the major risks to which the Charity is exposed. Procedures and systems are In place to mitigate these risks. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are required under Charrty law to prepare finandal statements for each financial year whlch give a true and fair view of the state of affairs of the Charity anrj of the financlal artivities of the Charlty for that period. In preparing those financial statements, the Trustee5 are required to= select suitable accounting policles and then applythem conslstenuy; makejydgements and estimates that are reasonable 2nd pruderit,- state whether applicable accounting 5t3nd3rds have been followed, subject to any material departures disclosed and explalned In the finanoal 5tatements,' and prepare the financial statements on the 80in8 concern basis unless it 15 inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial p051tion of the Charity and to enable them to ensure that the financial statements comply with applicable laws and regulations. They are zlso responsible tor ensuring that the Charity maintains an adequate 5VStem of intern31 control designed to provlde reasonable a55urance that 3ssets are safeguarded a8ainst105S or unauthorised use and to prevent and detectfraud and other irreEularities. ON BEHALF OF TEIE BOAAD.. Julia Thomas- Chair of Trustees Date.. Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GC FOUNDATION FOR THE YEAR ENDEI) 31 MARCH 2024 I report to the trustees on my examination of the accounts of the GC Foundation for the year ended 31 March 2024, which are set out on pages 5 to 6. Respect5ve responsibllities of trustees and examiner As the charitytrustees you are responsible forthe preparatlon of the account5 in accordan with the requirements of the CharitSes Art 20111'the Act'l. I report in respect of my examination of the Charlty's accounts carried out under sertion 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Art. lfidependent examinerfs statemeNt I have completed my examination. I confim that no matters have come to my attention in connertion with the examination giving me cause to believe that in any material respert.. Accounting records were not kept in respect of the Trust as required by section 130 of the Art,. or The accounts do not 3ccord with those records,- or The aecounts do not comply with the applicable requirements coneeming the form and content of accounts set out in the Charlties (Acwunts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which 15 not 3 matter considered as part of an independent examinatFOn. I have no concerns and have come across no other fftatters in connection with the examinat6on to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Nq. Cridland BAIHonsl FCA Scott Vevers Ltd Chartered Accountant5 & Registered Auditor5 65 East Street 8ridport Dorset DT6 3L8 D*e: c>l}oql4- Pa8e4
GC FOUNDATION STATEMENT OF FINANCIAL AcllviTIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 2023 Income from: Donations from Indlvlduals and Institutions 55,240 45,240 Investments- bank interest 37 38 Total income 55,277 45.278 Expenditure on: Charitable artivities Grants paid to Gentlecare Bank charges Governance costs Independent Examrner'5 fees 69,660 135 35,000 122 630 630 Total expenditure 70,425 35,752 Net income / (expenditure) Total funds at l April 2023 Total funds at 31 March 2024 115,1481 9,526 26,255 11,107 16,729 26,255 All amounts derlve from continving activitie5. All gain5 3nd losse5 recognised in the period are included in the statement of financial 3rtivities. BALANCE SHE AS AT 31 MARCH 2024 2024 2023 Current asset5 Cash at bank 11,737 26,885 Less ueditors.. amounts falllng due within one year Accruals 16301 16301 Net assets 11,107 26,255 Approved by the Trustees on .................... lia Thorn3s Chair of Trustees Page5
GC FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Genersl Information The charity is a charitable incorporated organlsation, Incorporated in England and Wales under the Charities Act 2011. The address of the registered office is provided In Reference and administrative details. Détsils of the charity's OpetIOnS are provided in the Report of the Trustees. A¢counting policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty In the preparation of the financial statements are as follows.. 2.1 Basis of preparatlon The charity constitute5 a public benefit entity as defined by FR5 102. The financial statements are prepared under the hlstorical cost convention and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charitie5 preparing their ac£ounts In accordance with Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 Icharities SORP IFRS 10211 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The accounts include the results ol the charity's operations which are described in the Trustees, Report, all of which are contlnuing. 2.2 Accountlng convention The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of fund5 held and the expected level of Income and expendUre for 12 months from 8horI51ng these financial statements. The budgeted Tncome and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 2.3 Income Donations and grant income are accounted for on a receipts b3S15. All other income 15 accounted for on an accruals b3SIS. 2.4 Expenditure ExpenditUTe is included when incurred. The sole charitable actlvity ts grant making and all costs Incurred relate to thls activity. ExpenditurÈ on Charltable Actlvitles Grants of £69,660 were made to Gentlecare in the year. Gentlecare is a not-for-profit organisation gistered In South Africa as described in the Trustee5' Report. Employee costs There were no employees during the year. No trustees received any remuneration or expenses durSng the year. Pay6