2023-04-30-accounts

	Page
Trustees’ Annual Report	1
Independent Examiner’s Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8

Settlors	Gilbert Prousch
	George Passmore
Dates of Constitution	4th October 2017
Trustees	Gilbert Prousch
	George Passmore
	Richard Riley
	Michael Bracewell
	Nigel Fox
Nature of CIO	A registered charity, registered with the Charity Commissioners for England
	and Wales as number 1174981
Registered Office	12 Fournier Street
	London
	El 6QE
Investment Managers	Cazenove
	31 Gresham Street
	London
	EC2V 7QA
Bankers	Messrs. Hoare & Co.
	37 Fleet Street
	London
	EC4P 4DQ
Solicitors	Charles Russell Speechlys
	5 Fleet Place
	London
	EC4M 7RD
Independent Examiner	Moore Kingston Smith LLP
	6th Floor
	9 Appold Street
	London, EC2A 2AP

THE GILBERT AND GEORGE CENTRE
INDEPENDENTEXAMINER’S REPORT
FOR THE YEAR ENDED 30th APRIL 2023
I report to the trustees on my examination of the accounts of the Gilbert & George Centre (the charity) for the year ended 30
April 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance	with the requirements of
the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 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 145(5)(b) of the
Act,
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention	in connection with the
examination giving me cause to believe that in any material respect:
(1) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
(2) the accounts do not accord with those records; or
(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts
set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts
give a ’true and fair view’ which is not a matter considered part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
Adam Fullerton FCA DChA
for and on behalf of	6th Floor
Moore Kingston Smith LLP	9 Appold Street
Chartered Accountants	London
	EC2A 2AP
Date: 31 October 2023
5

		- Unrestricted Funds -	- Unrestricted Funds -	Total	- Unrestricted Funds -	- Unrestricted Funds -	Total
			Expendable	Funds		Expendable	Funds
	Notes	Income	Endowment	2023	Income	Endowment	2022
Income and Expenditure		£	£	£	£	£	£
INCOME FROM:
Donations & legacies:-
Donations received	2	38,854	1,000,000	1,038,854	6,339	425,000	431,339
Investment income	3	15,019		15,019	8,637		8,637
TOTAL INCOME		53,873	1,000,000	1,053,873	14,976	425,000	439,976
EXPENDITURE ON:
Raising funds:-
Investment Management Costs			1,805	1,805		5,858	5,858
Charitable activities	4/5	212,413		212,413	70,392		70,392
TOTAL EXPENDITURE		212,413	1,805	214,218	70,392	5,858	76,250
NET OPERATING
INCOME/(EXPENDITURE)		(158,540)	998,195	839,655	(55,416)	419,142	363,726
OTHER RECOGNISED
GAINS/(LOSSES)
Gains/(losses) on Investments	7		(37,475)	(37,475)		19,405	19,405
NET INCOME/(EXPENDITURE)		(158,540)	960,720	802,180	(55,416)	438,547	383,131
Gross transfer between Funds	10
NET MOVEMENT IN FUNDS		(158,540)	960,720	802,180	(55,416)	438,547	383,131
RECONCILIATION OF FUNDS
Total funds brought forward		159391	12,092,807	**12,252,198 **	214,807	11,654,260	11,869,067
BALANCES CARRIED FORWARD		851	13,053,527	**13,054,378 **	159,391	12,092,807	12,252,198

	Notes	2023	2022
		£	£
FIXED ASSETS
Intangible fixed assets	6	8,653	13,468
Tangible fixed assets	7	12,033,504	11,010,831
Investments	8	666,787	529,261
		12,708,944	11,553,560
CURRENT ASSETS
Cash held at
C. Hoare & Co.		140,611	209,319
Cazenove		199,439	511,225
Metro		7,407	14,717
Debtors	11	9,549	___ 55
		357,006	735,316
CURRENT LIABILITIES
Creditors - amounts falling due within one year	12	11,572	36,678
NET CURRENT ASSETS		345,434	698,638
NET ASSETS		13,054,378	12,252,198
FUNDS
Unrestricted Funds
Income		851	159,391
Expendable Endowment		13,053,527	12,092,807
		13,054,378	12,252,198

**3 **	INVESTMENT INCOME	2023	2022
		£	£
	Investment income	14,900	8,371
	Interest on cash deposits	119	267
		15,019	8,637
**4 **	CHARITABLE ACTIVITIES	2023	2022
		£	£
	Staff costs (see note 5)	81,897	27,300
	Support costs (see below)	130,516	43,092
		212,413	70,392
	Support costs are split as follows:	2023	2022
		£	£
	Rates & water	264	679
	Light & heat	13,953	7,320
	Repairs & maintenance	19,464	4,960
	Insurance	6,356	1,942
	Legal & professional fees	31,907	11,559
	Finance costs	506	581
	Computer costs	9,936	2,143
	Depreciation	15,974	3,575
	Amortisation	4,815	1,124
	Other office costs	1,539	449
	Storage	1,536
	Other Establishment	712
	Security Cost	6,358
	Advertising	2,640
	Telephone	52
	Governance Costs
	Moore Kingston Smith Independent Examiner’s fee:
	Current year	4,515	3,960
	Advisory	3,269
	Whitefield Co. Accountancy Fees	6,720	4,800
		130,516	43,092
**5 **	STAFF COSTS	2023	2022
		£	£
	Wages and salaries	74,982	26,878
	Social security costs	2,958
	Pension costs	3,957	422
		81,897	27,300

INTANGIBLE FIXED ASSETS	Website
	Development	Total
	£	£
Cost/Market Value
Brought Forward	14,592	14,592
Additions
At 30 April 2023	14,592	14,592
Amortisation
Brought Forward	1,124	1,124
Charge for the period	4,815	4,815
At30 April 2023	5,939	5,939
Net Book Value
At 30 April 2023	8,653	8,653
At 30 April 2022	13,468	13,468

TANGIBLE FIXED ASSETS
	Freehold
	Land and	Fixtures and
	Buildings	Fittings	Equipment	Total
	£	£	£	£
Cost/Market Value
Brought Forward	10,951,806	48,977	13,623	11,014,406
Additions	983,745	48,080	6,822	1,038,647
At 30 April 2023	11,935,551	97,057	20,445	12,053,053
Depreciation
Brought Forward		1,560	2,015	3,575
Charge for the period		10,528	5,446	15,974
At 30 April 2023		12,088	7,461	19,549
Net Book Value
At 30 April 2023	11,935,551	84,969	12,984	12,033,504
At 30 April 2022	10,951,806	47,417	11,608	11,010,831

	2023	2022
Listed investments	£	£
Market Value Brought Forward	529,261	2,759,856
Add: Purchase costs	425,000
Less: Sale proceeds	(250,000)	(2,250,000)
Realised gains	19354	288,279
(Losses) on revaluation	(56,829)	(268,874)
Market value of listed investments	666,786	529,261
Investment in subsidiary	1
Total investments	666,787	529,261
Historical cost	658,742	465,072

Geographical Analysis
United Kingdom investments	666,786	529,261
Overseas investments
	666,786	529,261

DEBTORS
		2023	2022
		£	£
Advances		3,000
Prepayments		6,549	55
		9,549	55
CREDITORS
		2023	2022
		£	£
Accruals		11,572	36,678
		11,572	36,678
ANALYSIS OF NET ASSETS BY FUND
	Unrestricted	Expendable
	income fund	Endowment	Total
As at 30 April 2023	£	£	£
Tangible fixed assets		12,042,157	12,042,157
Investments		666,787	666,787
Current assets	12,423	344,583	357,006
Current liabilities	(11,572)		(11,572)
	851	13,053,527	13,054,378
	Unrestricted	Expendable
	income fund	Endowment	Total
As at 30 April 2022	£	£	£
Tangible fixed assets		11,024,299	11,024,299
Investments		529,261	529,261
Current assets	196,069	539,247	735,316
Current liabilities	(36,678)		(36,678)
	159,391	12,092,807	12,252,198