REGISTERED CHARITY NUMBER: 1176015
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2023
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 2023
|
|
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 2023
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December2023.The trustees
have adopted the provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charities
preparing their accountsin accordancewith the FinancialReportingStandard applicablein 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 31 October 2024 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
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheGuttridgeFamilyFoundation(theTrust)forthe year
ended 31 December 2023.
Responsibilities and basis of report
As the charitytrusteesof the Trust you are responsiblefor the preparationof the accountsin accordancewith the requirements of
the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout 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
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith 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 concernsand have come across no other matters in connectionwith the examinationto which attentionshould 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
31 October 2024
Page 2
THE GUTTRIDGE FAMILY FOUNDATION
Statement of Financial Activities for the year ended 31 December 2023
2023
Unrestricted
fund
Notes
£
Income and endowments from
Investment income
2
72,003
Expenditure on
Raising funds
3
19,252
Charitable activities
Rent expenses
101,120
Other
-
Total
120,372
Net gains/(losses) on investments
156,625
NET INCOME
108,256
Reconciliation of funds
Total funds brought forward
4,420,371
Total funds carried forward
4,528,627 |
2022
Total funds
£
63,262
10,818
-
3,437
14,255
(23,024)
25,983
4,394,388
4,420,371 |
|
|
The notes form part of these financial statements
Page 3
THE GUTTRIDGE FAMILY FOUNDATION
Statement of Financial Position 31 December 2023
2023
Unrestricted
fund
Notes
£
Fixed assets
Investment property
6
2,871,000
Current assets
Debtors
7
-
Investments
8
972,315
Cash at bank
687,531
1,659,846
Creditors
Amounts falling due within one year
9
(2,219)
Net current assets
1,657,627
Total assets less current liabilities
4,528,627
NET ASSETS
4,528,627
Funds
10
Unrestricted funds
4,528,627
Total funds
4,528,627 |
2022
Total funds
£
2,810,000
3,136
876,690
733,881
1,613,707
(3,336)
1,610,371
4,420,371
4,420,371
4,420,371
4,420,371 |
|
|
The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issue on 31 October2024 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 2023
1. Accounting policies
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichis a publicbenefitentityunderFRS102,havebeenpreparedin accordance
with the CharitiesSORP(FRS 102) 'Accountingand Reportingby Charities:Statementof RecommendedPractice applicable
to charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republic
ofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeen prepared
under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable
that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligationcommittingthe charityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings
they have been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasacommitmentbut not
accrued as expenditure.
Investment property
Investmentproperty 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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.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
Sundry income |
2023
£
33,130
30,340
6,496
400
1,637
72,003 |
2022
£
41,247
15,548
6,067
400
- |
|
|
63,262 |
Page 5
THE GUTTRIDGE FAMILY FOUNDATION
Notes to the Financial Statements - continued for the year ended 31 December 2023
3. Raising funds
Investment management costs
Portfolio management
Insurance
Rates and water
Property repairs
Light and heat
Support costs |
2023
£
6,707
2,282
569
9,521
65
-
19,144 |
2022
£
4,385
2,918
-
2,831
-
684 |
|
|
10,818 |
4. Trustees' remuneration and benefits
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023norfortheyear ended
31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
5. Comparatives for the statement of financial activities
Comparatives for the statement of financial activities |
|
|
Unrestricted |
|
fund |
|
£ |
Income and endowments from |
|
Investment income |
63,262 |
Expenditure on |
|
Raising funds |
10,818 |
Other |
3,437 |
Total |
14,255 |
Net gains/(losses) on investments |
(23,024) |
NET INCOME |
25,983 |
Reconciliation of funds |
|
Total funds brought forward |
4,394,388 |
Total funds carried forward |
4,420,371 |
Page 6
THE GUTTRIDGE FAMILY FOUNDATION
Notes to the Financial Statements - continued for the year ended 31 December 2023
6.
Investment property
Fair value
At 1 January 2023
Revaluation
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
Fair value at 31 December 2023 is represented by:
Valuation in 2021
Valuation in 2022
Valuation in 2023
Cost
7.
Debtors: amounts falling due within one year
Trade debtors
8.
Current asset investments
Unlisted investments
9.
Creditors: amounts falling due within one year
Trade creditors
10.
Movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
At 1/1/23
£
4,420,371
4,420,371 |
|
2023
£
-
2023
£
972,315
2023
£
2,219
Net
movement
in funds
£
108,256
108,256 |
|
£
2,810,000
61,000 |
£
2,810,000
61,000 |
|
|
|
|
|
2,871,000 |
|
|
|
|
|
|
2,871,000 |
|
|
|
|
|
|
2,810,000 |
|
|
|
|
|
|
£
302,662
152,080
61,000
2,355,258 |
|
|
|
|
|
|
2,871,000 |
|
|
|
|
|
|
2022
£
3,136
2022
£
876,690 |
2022
£
3,136 |
|
|
|
|
|
2022
£
3,336
At
31/12/23
£
4,528,627 |
2022
£
3,336 |
|
|
|
|
|
4,528,627 |
|
Page 7
THE GUTTRIDGE FAMILY FOUNDATION
Notes to the Financial Statements - continued for the year ended 31 December 2023
10. Movement in funds - continued
Net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
72,003 |
(120,372) |
156,625 |
108,256 |
TOTAL FUNDS |
72,003 |
(120,372) |
156,625 |
108,256 |
Comparatives for movement in funds
At 1/1/22
£
Unrestricted funds
General fund
4,394,388
TOTAL FUNDS
4,394,388
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
63,262
(14,255)
TOTAL FUNDS
63,262
(14,255) |
Net
movement
in funds
£
25,983
25,983
Gains and
losses
£
(23,024)
(23,024) |
At
31/12/22
£
4,420,371 |
At
31/12/22
£
4,420,371 |
|
|
4,420,371 |
|
|
|
Movement
in funds
£
25,983
25,983 |
|
|
|
|
25,983 |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 1/1/22
£
4,394,388
4,394,388 |
Net
movement
in funds
£
134,239
134,239 |
At
31/12/23
£
4,528,627 |
|
|
|
4,528,627 |
Page 8
THE GUTTRIDGE FAMILY FOUNDATION
Notes to the Financial Statements - continued
for the year ended 31 December 2023
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:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
135,265 |
(134,627) |
133,601 |
134,239 |
TOTAL FUNDS |
135,265 |
(134,627) |
133,601 |
134,239 |
11. Related party disclosures
There were no related party transactions for the year ended 31 December 2023.
Page 9
THE GUTTRIDGE FAMILY FOUNDATION
Detailed Statement of Financial Activities for the year ended 31 December 2023
Income and endowments
Investment income
Rents received
Agricultural letting
Solar panel income
Apparatus income
Sundry income
Total incoming resources
Expenditure
Investment management costs
Portfolio management
Insurance
Rates and water
Property repairs
Light and heat
Charitable activities
Grants to institutions
Support costs
Management
Sundries
Finance
Bank charges
Governance costs
Professional fees
Total resources expended
Net (expenditure)/income before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments
Net income |
2023
£
33,130
30,340
6,496
400
1,637
72,003
72,003
6,707
2,282
569
9,521
65
19,144
95,000
3,394
108
2,726
120,372
(48,369)
156,625
108,256 |
2022
£
41,247
15,548
6,067
400
-
63,262
63,262
4,385
2,918
-
2,831
-
10,134
-
-
101
4,020
14,255
49,007
(23,024)
25,983 |
|
|
|
This page does not form part of the statutory financial statements
Page 10