2021-04-06-accounts - The Gallus Trust

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Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 07 April 2020 To 06 April 2021

Section A Reference and administration details

Charity name The Gallus Trust

Other names charity is known by

Registered charity number (if any) 1175647

Charity's principal address Trustee Department 1[st] Floor, Tower Wharf Cheese Lane, Bristol Postcode BS2 0JJ

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
John Richard Duncan Corrie	Settlor
Jeannette Susan Corrie	Settlor
Elizabeth Margaret Corrie
Catherine Helen Cawston
Coutts & Co		To 06 April 2021
Ludlow Trust CompanyLimited		From 06 April 2021

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

March 2012

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address
Investment Managers	Coutts & Co	440 The Strand, London, WC2R 0QS
Bankers	Coutts & Co	440 The Strand, London, WC2R 0QS
Solicitors	TLT LLP	One Redcliffe Street, Bristol, BS1 6TP
Independent Examiners	Blue Spire Limited	Cawley Priory, South Pallant, Chichester, West Sussex, PO19 1SY

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Trust deed dated 31 October 2017 Type of governing document

(eg. trust deed, constitution) Trust

How the charity is constituted

(eg. trust, association, company)

Trustees are appointed by the settlors during their lifetimes, or by one on Trustee selection methods death or incapacity of one of them one of the trustees. Subject to this, (eg. appointed by, elected by) appointment of trustees shall be exercisable by the trustees.

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

The objects of the charity are to apply the income, and all or such part or parts of the capital, at such time or times and in such manner to, or for the benefit of such exclusively charitable objects and purposes in any part of the world as the trustees may in their discretion think fit.

TAR

March 2012

In furtherance of the charity’s objects for the public benefit the trustees provides grants. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

TAR

March 2012

Section D Achievements and performance

Summary of the main During the year under review the charity made 10 grants totalling achievements of the charity £32,500 as disclosed in the notes. during the year

TAR

March 2012

Section E Financial review

Brief statement of the

charity’s policy on reserves

At the end of the reporting period the charity had free reserves amounting to £3,093 (2020: £7,198).

In addition to the free reserves the charity has bank balances of £75,945 (2020: £117,867) and investment assets of £974,400 within the expendable endowment fund.

The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks.

Details of any funds materially

in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s)[James Sansum ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc) Date 11 November 2021

TAR

March 2012

Charity Name			No (if any)
The Gallus Trust			1175647
Receipts andpayments accounts				CC16a
For the period from	Period start date 07 April 2020	To	Period end date 06 April 2021

Section A Receipts and payments	Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £ - 16,977 13 - - - - - 16,990 - - - 16,990 32,500 - 760 - - - - - - 33,260 - - - 33,260 (16,270) 12,165 7,198 3,093	Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Endowment funds to the nearest £ - - - - - - - - - 757,180 - 757,180 757,180 - 16,818 - - - - - - - 16,818 770,119 - 770,119 786,937 (29,757) (12,165) 117,867 75,945	Total funds to the nearest £ - 16,977 13 - - - - - 16,990 757,180 - 757,180 774,170 32,500 16,818 760 - - - - - - 50,078 770,119 - 770,119 820,197 (46,027)	Last year to the nearest £
Gift aid	-				-
Investment income	16,977				21,086
Income from bank interest	13				599
	-				-
	-				-
	-				-
	-				-
	-				-
*Sub total*(Gross income for AR)	16,990				21,685

A2 Asset and investment sales, (see table).
Sale of investments	-				593,451
	-				-
*Sub total*	-				593,451
*Total receipts* A3 Payments
					615,136

Grants awarded	32,500				35,000
Inv mgmt and admin	-				13,824
Independent examination	760				500
	-				-
	-				-
	-				-
	-				-
	-				-
	-				-
**Sub total **	33,260				49,324

A4 Asset and investment purchases, (see table)
Investmentpurchases	-				579,688
	-
**Sub total **	-				579,688
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end **
					629,012

	(16,270)	-	(29,757)	(46,027)	(13,876)
	12,165	-	(12,165)	-	-
	7,198	-	117,867	125,065	138,941
	3,093	-	75,945	79,038	125,065

CCXX R6 accounts (SS)

Section B Statement of assets and liabilities at the end of the period

Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B3 Investment assets B4 Assets retained for the charity’s own use B5 Liabilities	(agree balances with receipts and payments account(s)) Capital account Income account 2 Reserve account 2 *Total cash funds* Income account Reserve account Capital account 2 Details Details Investments Details Details Inv mgmt and admin Independent examination Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ - - (18) - - - - - 3,111 - - - 3,093 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - - - - - Fund to which asset belongs Cost (optional) - - - - - - - Fund to which liability relates Amount due (optional) Endowment 435 Unrestricted 780 - - - Print Name James Sansum On behalf of Ludlow Trust Company Limited	Endowment funds to nearest £ 2,488 - 73,457 - - - 75,945 OK Endowment funds to nearest £ - - - - - - Current value (optional) 974,400 - - - - Current value (optional) - - - - - - - When due (optional) Date of approval 11 November 2021
		James Sansum On behalf of Ludlow Trust Company Limited	11 November

CCXX R7 accounts (SS)

Section C Notes to the Accounts

C1 Nature and purpose of funds Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to (may be stated on analysis of unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives. funds worksheets) Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

C2 Grants to institutions C3 Related party transactions	Recipient - 1 payment unless annotated Beyond the Streets Cure Parkinsons Trust Dogs Trust Norton Hall Children & Family Centre Parkinson's UK The Connection at St Martin-in-the-Field The Johnson Trust; Seaford College The Maytree Respite Centre The Royal Vetinary College Animal Care Trust Therapet	£ 1,000 5,000 2,500 1,000 10,000 4,500 2,500 2,500 2,500 1,000
		32,500

	No trustee received any remuneration nor reimbursed any expenses in the year under review. During the year under review Coutts & Co, a trustee of the charity, were paid fees for the provision of administration and investment management services amounting to £16,818 (2020: £13,824) as authorised under clause 6 of the trust deed.

CCXX R8 accounts (SS)

Independent Examiner's Report to the Trustees of The Gallus Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 06 April 2021 as set out on pages 6 to 8.

Responsibilities and basis of report

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the 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:

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.

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.

11 November 2021

Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY