Reglstered No. 1169784 GC FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 GC FOUNDATION CONTENTS OF THE FINANCIAL sfATEMENrs FOR ThE YEAR ENDED 31 MARCH 2025 Charity Informatlon Report of the Trustees Report of the Independent Examiner ststement of finandal actlvltles Balance sheet Notes to the financial ststements GC FOUNDATION CHARrrY INFORMATION FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES." Julia Thomas Jame5 Thoma5 Joshua Thomas REGisfERED OFFICL- Lea Farm G3te Street Bramley Surrey GU5 OLR REGISTERED CHARITY NUMBER: 1169784 INDEPENDEMf EXAMif4ER: M. Cridland BAIHon51 FCA Scott Vever5 Ltd Chartered AccountsF7ts 65 East Street Bridport Dorset DT6 3LB BANKERS: CAF Bank Page I GC FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Tntstee5 present their report together wlth the flnandal ststements of the Charity for the year ended 31 March 2025. The accounts have been prepared in accordan￿ wlth the accounting pollae5 set out in the notes to the accounts and comply with the Charlty's governin8 document, opplicable law and the requirements of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charityes preparing thelr accounts in accordance wrth the Financial Reporting Standard applic3ble In the UK and Regubllc of Ireland IFRS 1021. OBJECTIVES AND ACTMnES Objects The objectives of the Charity are the rellef of those in need by reason of age. ill health, disablllty. financlal hardship or other di5advantsge in such parts of the world as the Trustees may frorn time to tlme think fit indudlng but not by way of limltstion through the provision of support, funds, goods or serwces to charities or other or8an15ations working to help those in need. Alm5. ObJÈrtlves. Strategles and A¢tMtles forthe Year The poliry of the Char5ty is to fulfil its objects by making grants to or8ani53tlons who provtde relief in accordance with the oblecUve5 of the charity. In planning actlvltle5 for the year, the Trustees kept In mind the Charlty Commisslon's 8uldance on public beneflt, ACHIEVEMENTS AND PERFORMANCE Charitsble Actlvltles The Trustees made grants to Gendecare, a Not foi Profit Organisatton based in South Africa. whlch provldes care to very needy people. the vast majorlty of whom are dose to the end of their Ilves. as well an outreach programme to those In the communlty. Gentlecare's maln actyvity Is to care for approximately 30 residents at any one time In Its residentlal care facility. Gentlecare conJnued to lialse dosely wlth the health authori*"es In South Afrlca In an increasln8ly challen8ln8 environment, Indudlng short38es in electrluty supply and 5ewè8e collettion. It provlded good care to its residents. continuln8 to retum as many as posslble back into the eommunlty In order to free up capadty for new residents. It overcame challenges Sn utillty suppty in part through past Investment in sdar panels and lithium. and in part through the commitment and hard work of the team on the ground. FINANCIAL REVIEW FlThanclal positlon Total receipts for the year amounted to £48,30212024- £55.2771 and net incomlng resources were £11.237 (net outgoing resources 2024- £15.1481. Grants of £36.3Ci) {2024- £69,660) we made durlng the year to Gentle¢are. Unrestrirted reserve5 at 31 Mardi 2025 were £22.344 (2024- £11.1071. Reserves Poll¢y The Trustees have reviewed their policy, tsktfyg Into account recommendations by the Charity Commi55ion. so as to establish an acceptable level of reserves which is the cornerstone of the prudent finanaal management of the Charity- The charlty has a policy of seekin8 to have reserves equal to three months of annual spending and grants. At 31 March 2025 free reserves arnounteo to £22.344. The increase in reserves is due to the tlming of 8rant payments and is expected to redu￿ during the coming year Page2 GC FOUNDATION REpoKf OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRucfuRE. GOVERIUANCE AND MANAGEMEKr Govemln8 Document The Charity was registered as a Charltsble Incorporated Organlsation {ao} on 19 October 2016 and cornmen￿d operdtions Immedlately. Trustees Trustees are elerted and removed by the Board of Trustees. There Is no maxlmum number of Trustees. The minimum number shall be three. The Trustees who served during the year are Ilsted on Page l. The power to appolnt new trustees is vested In the exlsting trustees. Future trustees wlll be selerted to ensure the board malntalns a suitable mlx of skills and experlence to wntinue its work and will be glven an appropriate Indurtion into the charity. Trustees attend training Courses where St is considered necessary. Organlsatlonal Structure The charity is rnanaged and operated by the board of Trustees who meet at least three times per year. Major Rlsk5 The Trustees have carried out an assessment of the major risks to whlth the Charlty is exposed. Procedures and systems are In pla￿ to mitlgate these rfsks. 5TATEMEprr OF TRUSTEES, RESPON51BIUTIES The Trustees are required under Charity law to prepare financial 5tstements for each financlal year whlch give a true and fair vlew of the state of affalrs of the Charlty and of the financlal activities ot the Charity for that perlod. In prep3rln8 those finanaal statsments. the Trusrees re required to.. select suitsble accounting pollcies and then apply them cons15tendy, make judgements and estimates that are reasonable and pruden¢. state whether applicable accountr'ng 5randards have been followed, sublea to any material departures dlsclosed and explalned in the flnandal statements: and prepare the finandal statements on the going concem basis unless It is inapproprlate to presume that the company will contlnue In buslne$5. The Trustees are responstble for keeplng proper accounting records whlch dlsclose wlth reasonable accuraci at any time the finanaal positlon of the Charfty ond to enable them to ensure that the financial statements comply with appllcable laws and regulations. They are also responsible for en5urln8 that the Charfty maintains an adequate system of internal control desi8ned to provide reasonable assuran￿ that assets are safeguarded against loss or unauthorised use and to prevent and detect fraud and other irregularities. ON BEHALF THE 80ARD'. ,'rfia Thomas- Chair of Trustees Date.. Page 3 INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF THE GC FOUNDATION FOR THE YEAR ENDED 31 MARCH 2025 I report to the trustees on my examination of the accounts of the GC Foundation for the year ended 31 March 2025. whith are set out on pages 5 to 6. RespertFve responslbllltles of trustees and examlner As the charitytwstees you are responsible for the preparation ofthe accounts in accordance with the requlrements of the Char￿leS Act 20111'the ACVI. I report in re5pert of my examination ofthe Charltys accounts carried out under section 145 Df the 2011 Act and In carrying out my examlnation I have followed all the applicable DlrettFons given by the Charity Commission under sectlon 14515llbl of the ACL Independent examlnerfs statement I have completed my examinatlon. I conflmi that no matters have come to my attention In connection with the examlnatlon giving me cause to belleve that In any materlal respect.. Accounting records were not kept in respect of the Trust as required by section 130 of the Att; or The accounts do not accord wlth those records; or The accounts do not comply with the applicable requlrements concerning the form and content of accounts set out In the Charlties (Accounts and Reports) Regulations 2008 other than any requlrement that the accounts 8lve a 'twe and fair view whlch Is not a matter consldered as part of an Independent examinatlon. I have no concerns and have come across no other matters In connertlon with the examination tc whlch attention should be drawn In this report In order to enable a proper understsnding of the accounts to be reached. M. Cridland BAIHons) FCA Scott Vevers Ltd Chartered Accountsnts & Re8lstered Auditors 65 East Street Bridport Dorset DT6 3LB Date: I61G121L Pw4 GC FOUNDAT1014 STATEMENT OF FINANCIAL AcllviTIE5 FOR THE YEAR ENDED 31 MARCH 2025 Un¥e5tr1cted fund5 2024 Income frorn: Donations from individuals and instltutlons 48.220 55,240 Investments - bank Interest 82 37 Total Income 48,302 55,277 Expendlture on: Charftable zctlvltles Grants paid to Gentlecare Barbk charge5 Governance costs Independent Examlnerfs fees Total expenditure 36,300 135 69,660 13S 630 630 37,065 70,425 Net Income / lexpendlturel Total funds at l Aprll 2024 Total funds at 31 March 2025 11,237 115,1481 11,107 22.344 26,255 11,107 All amounts derlve from continulng actlvtties. All gains and losses reco8nlsed in the period are Included In the statement of financial activities. 8AiANCE SHEEf AS AT 31 MARCH 20Z5 2025 2024 Current assets Cash at bank 22,974 11.737 Les5 credltors: 8mourts falllng due wlthln one year Accruals {630) 16301 Net assets 22,344 11,107 Approved by the Trustees on ... Julia Thomas Chair of TnJstees GC FOUNDATION NOTES TO TrIE FINANCIAL STATEMEpifs FOR THE YEAR ENDED 31 MARCH 2025 General Information The charity is a charitsble incorporated organisation. incorporated in England ana Wales under the Charities Art 2011. The address of the re8iStered officE is provided In Reference and administrative details. Details of the charitvs operations are provided in the Report of the Trustees. Ac￿UntIng poll¢les The prIn￿paI accountlng policles adopted, judgements and key sources of estlmation uncertainty In the preparation of the financial statemerrts are as follows: 2.1 Basls of preparatlon The chèrlty constltutes a publlc beneflt entity as defined by FRS 102. The financial statements are prepared under the h15torical cost conventlon and in accordance with Accountln8 and ReportSn8 bv Charitie5'. Statement of Recommended Prartitr applicable to charrtles preparing their accounts in accordance wlth Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charltles SORP (FR5 10211 and the Flnancial Reporting Stsndard applicable in the UK and Republlc of Ireland IFRS 102}. The accounts Include the results of the charty's operations which are described in the Trustees. ReporL all of which are contlnulng. 2.2 Accountlftg tanvertlon The flnanclal statements have been prepared on a 8olng concern basls as the trustees believe that no materlal uncertaintles exlst. The trustees have consldered the level of fund5 held and the expetted level of income and expendlture for 12 months from auth0ri51n8 these flnanclal Statements. The budgeted Income and expendlture is sufflclent wlth the I￿e1 ot reser4es for the chartty to be able to ontlnue a5 a 8olng concern. 2.3 Income Donatlon5 and Brant Income are accounted for on a recelpts ba51s. All other Income15 accounted for on an accruals basis. 2.4 Expendlture Expendlture Is included when Incurred. The sole charitsble actlvlty Is grant maklng and all costs incurred relate to thls activtty. Expendlture on Charftable Aetlv Grants of £36,300 were made to Gentlecare In the year. Gentlecare is a not-for-profit or8anisation re815tered In South Africa as described In the Trustees, Report. Employee costs There were no employees durtn8 the year. No trustees receNed any remuneration or expense5 durlng the year. Related party transactlons There were no related party transactlons during the year