**REGISTERED CHARITY NUMBER: 1176015** **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 December 2022** **for** **THE GUTTRIDGE FAMILY FOUNDATION** Haines Watts Chartered Accountants 23 Algitha Road Skegness United Kingdom PE25 2AG **THE GUTTRIDGE FAMILY FOUNDATION** **Contents of the Financial Statements for the year ended 31 December 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**||1|| |**Independent Examiner's Report**||2|| |**Statement of Financial Activities**||3|| |**Statement of Financial Position**||4|| |**Notes to the Financial Statements**|5|to|9| |**Detailed Statement of Financial Activities**||10|| **THE GUTTRIDGE FAMILY FOUNDATION** ## **Report of the Trustees for the year ended 31 December 2022** The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Structure, governance and management Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Reference and administrative details** ## **Registered Charity number** 1176015 ## **Principal address** C/o Willsons 16 Algitha Road Skegness Lincolnshire PE25 2AG ## **Trustees** Mr J Boulton Mr S Adams Mrs R Adams Mr S C Thorold ## **Independent Examiner** Haines Watts Chartered Accountants 23 Algitha Road Skegness United Kingdom PE25 2AG Approved by order of the board of trustees on 14 September 2023 and signed on its behalf by: Mr J Boulton - Trustee Page 1 **Independent Examiner's Report to the Trustees of** **The Guttridge Family Foundation** ## **Independent examiner's report to the trustees of The Guttridge Family Foundation** I report to the charity trustees on my examination of the accounts of The Guttridge Family Foundation (the Trust) for the year ended 31 December 2022. ## **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 Act and in carrying out my examination I have followed all 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 Trust 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 as 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. Simon Thorold Haines Watts Chartered Accountants 23 Algitha Road Skegness United Kingdom PE25 2AG 15 September 2023 Page 2 **THE GUTTRIDGE FAMILY FOUNDATION** ## **Statement of Financial Activities for the year ended 31 December 2022** **----- Start of picture text -----**
2022 2021
Unrestricted
fund Total funds
Notes £ £
Income and endowments from
-
Donations and legacies 240,709
Investment income 2 63,262 115,798
Total 63,262 356,507
Expenditure on
Raising funds 3 10,818 7,263
Other 3,437 5,953
Total 14,255 13,216
Net gains/(losses) on investments (23,024) 354,457
NET INCOME 25,983 697,748
Reconciliation of funds
Total funds brought forward 4,394,388 3,696,640
Total funds carried forward 4,420,371 4,394,388
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The notes form part of these financial statements Page 3 **THE GUTTRIDGE FAMILY FOUNDATION** ## **Statement of Financial Position 31 December 2022** **----- Start of picture text -----**
2022 2021
Unrestricted
fund Total funds
Notes £ £
Fixed assets
Investment property 6 2,810,000 2,657,920
Current assets
Debtors 7 3,136 -
Investments 8 876,690 1,051,795
Cash at bank 733,881 684,673
1,613,707 1,736,468
Creditors
Amounts falling due within one year 9 (3,336) -
Net current assets 1,610,371 1,736,468
Total assets less current liabilities 4,420,371 4,394,388
NET ASSETS 4,420,371 4,394,388
Funds 10
Unrestricted funds 4,420,371 4,394,388
Total funds 4,420,371 4,394,388
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The financial statements were approved by the Board of Trustees and authorised for issue on 14 September 2023 and were signed on its behalf by: Mr J Boulton - Trustee The notes form part of these financial statements Page 4 **THE GUTTRIDGE FAMILY FOUNDATION** ## **Notes to the Financial Statements for the year ended 31 December 2022** ## **1. Accounting policies** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |**2.**
**Investment income**
Rents received
Agricultural letting
Solar panel income
Apparatus income|**2022**
**£**
**41,247**
**15,548**
**6,067**
**400**
**63,262**|**2021**
**£**
58,547
11,500
45,327
424
115,798| |---|---|---| Page 5 **THE GUTTRIDGE FAMILY FOUNDATION** ## **Notes to the Financial Statements - continued for the year ended 31 December 2022** ## **3. Raising funds** ## **Investment management costs** |Portfolio management
Agricultural letting commission
Insurance
Property repairs
Support costs|**2022**
**£**
**3,720**
**665**
**2,918**
**2,831**
**684**
**10,818**|**2021**
**£**
3,542
1,030
743
1,948
-
7,263| |---|---|---| ## **4. Trustees' remuneration and benefits** There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021. ## **5. Comparatives for the statement of financial activities** |**Comparatives for the statement of financial activities**|| |---|---| |**Income and endowments from**
Donations and legacies
Investment income|**Unrestricted**
**fund**
**£**
240,709
115,798| |**Total**|356,507| |**Expenditure on**
Raising funds
Other|7,263
5,953| |**Total**|13,216| |Net gains on investments|354,457| |**NET INCOME**
**Reconciliation of funds**
Total funds brought forward|697,748
3,696,640| |**Total funds carried forward**|4,394,388| Page 6 **THE GUTTRIDGE FAMILY FOUNDATION** ## **Notes to the Financial Statements - continued for the year ended 31 December 2022** **----- Start of picture text -----**
6. Investment property
£
Fair value
At 1 January 2022 2,657,920
Revaluation 152,080
At 31 December 2022 2,810,000
Net book value
At 31 December 2022 2,810,000
At 31 December 2021 2,657,920
Fair value at 31 December 2022 is represented by:
£
Valuation in 2021 302,662
Valuation in 2022 152,080
Cost 2,355,258
2,810,000
7. Debtors: amounts falling due within one year
2022 2021
£ £
Trade debtors 3,136 -
8. Current asset investments
2022 2021
£ £
Unlisted investments 876,690 1,051,795
9. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 3,336 -
10. Movement in funds
Net
movement At
At 1/1/22 in funds 31/12/22
£ £ £
Unrestricted funds
General fund 4,394,388 25,983 4,420,371
TOTAL FUNDS 4,394,388 25,983 4,420,371
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Page 7 **THE GUTTRIDGE FAMILY FOUNDATION** ## **Notes to the Financial Statements - continued for the year ended 31 December 2022** ## **10. Movement in funds - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund|**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**63,262**
**(14,255)**|**Gains and**
**losses**
**£**
**(23,024)**|**Movement**
**in funds**
**£**
**25,983**| |---|---|---|---| |**TOTAL FUNDS**|**63,262**
**(14,255)**|**(23,024)**|**25,983**| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1/1/21**
**£**
3,696,640
3,696,640|**Net**
**movement**
**in funds**
**£**
697,748
697,748|**At**
**31/12/21**
**£**
4,394,388
4,394,388| |---|---|---|---| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund|**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
356,507
(13,216)|**Gains and**
**losses**
**£**
354,457|**Movement**
**in funds**
**£**
697,748| |---|---|---|---| |**TOTAL FUNDS**|356,507
(13,216)|354,457|697,748| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1/1/21**
**£**
3,696,640
3,696,640|**Net**
**movement**
**in funds**
**£**
723,731
723,731|**At**
**31/12/22**
**£**
4,420,371
4,420,371| |---|---|---|---| Page 8 **THE GUTTRIDGE FAMILY FOUNDATION** ## **Notes to the Financial Statements - continued for the year ended 31 December 2022** ## **10. Movement in funds - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund|**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
419,769
(27,471)|**Gains and**
**losses**
**£**
331,433|**Movement**
**in funds**
**£**
723,731| |---|---|---|---| |**TOTAL FUNDS**|419,769
(27,471)|331,433|723,731| ## **11. Related party disclosures** There were no related party transactions for the year ended 31 December 2022. Page 9 **THE GUTTRIDGE FAMILY FOUNDATION** ## **Detailed Statement of Financial Activities for the year ended 31 December 2022** **----- Start of picture text -----**
2022 2021
£ £
Income and endowments
Donations and legacies
-
Legacies 240,709
Investment income
Rents received 41,247 58,547
Agricultural letting 15,548 11,500
Solar panel income 6,067 45,327
Apparatus income 400 424
63,262 115,798
Total incoming resources 63,262 356,507
Expenditure
Investment management costs
Portfolio management 3,720 3,542
Agricultural letting commission 665 1,030
Insurance 2,918 743
Property repairs 2,831 1,948
10,134 7,263
Support costs
Finance
Bank charges 101 83
Governance costs
Professional fees 4,020 5,870
Total resources expended 14,255 13,216
Net income before gains and losses 49,007 343,291
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments (23,024) 354,457
Net income 25,983 697,748
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This page does not form part of the statutory financial statements Page 10