Registered number.. 11267055 Charity number: 1181544 THE G-A-Y FOUNDATION (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
THE G-A-Y FOUNDATION (A company limited by guarantee) CONTENTS Page Reference and adminlstratlve details of the company its trustees and advisgrs Trustees. report Tru5teo$' re8pon8ibilitieg 8tatoment Indepgndent examiner's report Statement of financial actlvities Balance sheet Notes to the flnanclal stements 9-13
THE G-A-Y FOUNDATION (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDEO 30 APRIL 2025 Trustees J Joseph S M Turner K Mcshannon L Kellow Company reglstered number 11267055 Charlty reglstered number 1181544 Reglstered office Heaven Nightclub 11, The Arches, Villiers Street London WC2N 6NG Accountants Adler Shine LLP Aston House Cornwall Avenue London N31LF Page 1
THE G-A-Y FOUNDATION (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 APRIL 2025 The Trustees present their annual report together with the financial statements of the company for the financial year ended 30 April 2025. The Annual report serves the PLJrposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current stalulory requirements, the requirements of the charitable company's governing document and the provisions of the Slalemenl of Recommended Practice {SORP} applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Since the company qualifies as small under section 382 of the CoTnpanies Act 2006. the Strategic report required of medium and Sarge companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omilled. Objectives and actlvlties a. Policies and objectives Tliv G-A-Y Fuuiidalioii has been e51ab5ish8d to offer a lrfe changing opportunity lo th0c who need it. Our areas of priority for funding over Ihe next two lo three years wi11 be the following bul we will k88p them under review annually or more often if ng.gdè.d".- health. social inclu910n. promotion of equality and éiversily and Gommunity development. A non*xhaustive li51 of sample grants we would consider in¢lude'.- assisting wllh costs of purchasing PrEP. assisting those who need counselling (e.g. due to alcohol or drug dependency or lo improve mental health and wellbeing). assisting with costs of funding for gender reassignment or therapy. assisting those suffering from infertility lo provKle support, guidance or necessary funding towards costs of IVF (but not surrogacy). supporting people with disabilities or who have suffered an accident lo help improve their quality of life e.g. through fLJnding equipment and daily living aids, making adjustments to homes and providing financial support in immediate aftermath of an accident. assi51ing with rental costs for person made homeless due lo family relectlon. In setting objectives and planning for activities. the Trustees have given due consideration to gener81 guidance published by the Charity Commission lating lo public benefit, including the guidance 'Public benefit.. running a charity IP821'. Page 2
THE G-A-Y FOUNDATION {A company Ilmlted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025 ObjgGtives and activltles {continued) b. Strategies for achleving objectives Our strategy is lo fundraise on a case-by case basis for a specified lolal lo make an individual grant. Once the funds have been raised for one successful grant application, we will move onlo the next fundraise. c. Actlvlties undertaken to achleve obSectlveg The ch8rily continued with its fundraising activities and made a number of grants in line with ils objectives. d. Main activities undertaken to further the Company's purposes for the public bgnefit Our funds musl be applied towards exclusively charitable purposes (under the laws of England and Wales) for the public benefit as the Trustees may from lime lo time decide. During the period ended 30 April 2025 the charity's fundraising activities generated £37,382 in donations of which il expended £86,790 on charitable purposes. Achlevements and performance a. Maln achlevements of the company Donations have been received from fundraising aclivilies, such as participation in the London Marathon. Financial rgview . Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Structure, governance and managemgnt a. Constitution The G-A-Y Foundation is registered as a charitable company limited by guarantee and was set up by the Memorandum and Articles of Association. Page 3
THE G-A-Y FOUNDATION (A company limited by guaranteg) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025 Structure, govemance and management {contlnuedl b. Methods of appointment or election of Trustees The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The Trustees who served during the year and to the dale of this report are as follows.. J Joseph S M Turner K McShani)on L Kellow Appro dbyord of the members of the board of Trustees and signed on their behalf by.. JJO Trust Dale.. Page 4
THE G-A-Y FOUNDATION {A company limited by guarantoel STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 APRIL 2025 The Trustees (who are also the directors of the company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Aecounting Praclicel. Company law requires the Trustees lo prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true 8nd fair view of the stale of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounllng policies and then apply them consislenlly., obseTve the methods and principles of the Charities SORP IFRS 1021,. make judgments and accounting estimates that are reasonable and prudent.. slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls.. prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the company's transactions and disclose with reasonable accuracy at any lime the financial position of the company and enable them lo ensure that the financial statemen15 comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved b order of e members of the board of Trustees and signed on ils behalf by.. J Joseph Trustee Date.. Page S
THE G-A-Y FOUNDATION-- IA company Ilmlted by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL 2025 Indgpendent examlner's report to the Tru8tees of The G-A-Y Foundatlon I'the compan) I report lo the charity Trustees on my examination of the accounts of the company for the year ended 30 April 2025. Responsibilities and basis of report As the Trustees of the company land ils directors for the purposes of company law} you are res¥x)nsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('Ihe 2006 Acl'}. Having satisfied myself that the accounts of the Company are not required to be audited under Parl 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts corriod out undcr 0¢110n 145 of the Charities Act 2011 1'lh8 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5llbl of the 2011 Act. Independent examinorfs statement I have completed my examlnallon. I confirm that no mallers have come lo my allenlion in connection with the cxarllinalion giving me cause to believe". accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair, view which is not 8 maller considered as part of r*r the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. I have no concerns and have come across no other mallers in connection wth the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. This reporl is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work ha5 been undertaken so that I might slate lo the company's Trustees those matters l am required lo slate lo them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the company and the companls TTU5tees as a body, for my work or for this feport. Signed.. Dated.. /J ol Christopher Taylor Adlgr Shine LLP Aston House Cornwall Avenue London N3 1LF Page 6
THE G-A-Y FOUNDATION IA company limlted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDEO 30 APRIL 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Noto Income from: Donations 37.382 37,382 105,456 Total income 37.382 37,382 105.456 Expenditure on: Charitable activities Other expenditure 85,600 4,594 85,600 4,594 120.288 11.198 Total expenditure 90,194 90,194 131,486 Net movement in funds (52.8121 (52,8121 (26,030J Rgconciliation of funds: Total funds brought forward Nel movement in funds 95,420 {52.812> 95,420 (52,8121 121.450 (26,030) Total funds carried forward 42,608 42,608 95,420 The Slalemenl of financial activities includes all gains and losses recognised in the year. The notes on pages 9 to 13 form part of these financial slalements. Page 7
THE G-A-Y FOUNDATION (A company limited by guarantee) REGISTERED NUMBER: 11267055 BALANCE SHEET AS AT 30 APRIL 2025 2025 2024 Not Current a88ets Cash al bank and in hand 42.608 95.420 42,608 95,420 Current Ilabllltles Net curront assets 42,608 95,420 Total assets less current liabilities 42,608 95,420 Total net assets 42.608 95.420 Charity funds UiirvbtriLled lui)ds 42,608 95,420 Total funds 42,608 95,420 The cornpany was entitled lo exemptson from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act wlh respect lo accounlina records and preparation of financial slalements. The financial statements have been prepared in accordance with the provisions applicable lo entities subject to the small companies regime. The fina ial slaleme ts were approved and aulhorised for issue by the Trustees and signed on their behalf by.. JJOS Truste Date.. The note on pages 9 10 13 form part of these financial statements. Page 8
THE G-A-Y FOUNDATION (A cornpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 General Information The G-A-Y Foundation is a company limited by guarantee registered in England and Wales. The members of the company are the Iruslees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited lo £1 per member of the company. The principal activity of the company is the promotion of social inclusion, equality, diversity, and the advancement of health. Accounting policies 2.1 Basis of preparatlon of flnanclal statoments The financial statements have been prepared in accordance with Ihe Charities SORP IFRS 1021 Accounting and Res)orting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. The G-A-Y Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Going concorn The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubl on the ability of the company lo continue 28 a goin9 concern. After making enquiries, the Iruslees have concluded that there is a reasonable expectation that the company has adequate resources to conb'nue in operations existence for the foreseeable future being a period of 81 least 12 months from the dale of approval of these financial stalemenls. The company therefore continues to adopt the going concern basis in prepaTing its financial slalemenls. 2.3 Incomg All income is recognised once the cotnpany has enlillemenl lo the income, il is probable that the income will be received, and the amount of income receivable can be measured reliably. Page 9
THE G-A-Y FOUNDATION {A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Accountlng policies (continued) 2.4 Expendlture Expondilure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in selllement and the amount of the obligation can be measured reliably. Expendituro is classified by activity. The costs of each activity are mado up ol Ihc total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs allributable lo a Single activity are allocated directly lo th21 activity. Shared costs which contribute lo more Ihan one activity 2nd support costs which are not allributdble lo a single activity are apportioned between those activities on 8 basis consislenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is inCued on directly undertaking the activities which further the companvs objectives, as well as any associated sijpport cosls. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions allaching are fulfilled. Grants offered subject lo conditions which have not been mel al the year end are noted as a commitment, bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.5 Cash at bank and in hand Cash al bank and in hand indude8 cash and short-lerm highly liquid investments with a short malurily of three months or less trom the date ot acquisition or opening ot ine aeposit or similar account. 2.6 Financial instruments The company only has financial assets and financial liabilities of a kind that qualrfy as basic financi81 nslrumenls. Basic financial instruments are initially recognised al transaction value 2nd subsequently measuTe(J at their selllemenl value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.7 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Page10
THE G-A-Y FOUNDATION (A company limited by guarant90) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Income from donatlons and legacies Unrestricted funds 2025 Total funds 2025 Total funds 2024 Donations 37,382 37.382 105.456 Other expenditurg Unrestricted funds 2025 Total funds 2025 Total funds 2024 Legal fees Accountancy charges Bank fees General expenses 1,401 2,028 565 600 1,401 2.028 565 9,306 1,620 272 600 4,594 4,594 17,198 Trustees, remuneratlon and expenses During the year, none of the Iruslees received any remuneration or other benefits in the course of their duties. During Ihe same period, no payments were made lo trustees for expenses incurred on behalf of the foundation. Analysis of expenditure by actlvltles Grant funding of activities 2025 Total funds 2025 Total funds 2024 Charitable expenditure 85,600 85.600 120,288 Page 71
THE G-A-Y FOUNDATION {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Financlal Instruments 2025 2024 Financial assats Financial ass6ts that are debt instruments measured al amortised cost 42.608 95.420 Financial a55els measured al fair value through income and expenditure comprise of cash and cash equivalents. statgmont of funds Statement of funds- current year Balance at 30 April 2025 Balance at 1 May 2024 Income Expenditure Unrcslricted funds General funds 95.420 37,382 190.194} 42,608 Statement of funds- prior ygar Balance al l May 2023 881ance al Income Expenditure 30 April 2024 Unrestrieted funds General fund5 121,450 121, 756 (147, 786) 95.420 Pago 12
THE G-y FOUNDATION (A Gompany limlted by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Analysls of net assets batween funds Analysis of net assets between funds - current year Unrastrictod funds 2025 Total funds 2025 Current assets 42,608 42,608 Analysis of net assets betwèen funds - prior year Unr&slricted fvnds 2024 Tolal funds 2024 Current assets 95.420 95.42Q Total 95,420 95,420 10. Related party transactlons At 30 April 2025, £nll was owed by G-A-Y Group Limiteé lo The G-A-Y Foundation. Jeremy Joseph is the director and controlling shareholder of G-A-Y Group Limited and is a Trustee of The G-A-Y Foundation. 11. Limited by guarantee The G-A-Y FOndatIOn is a company limited by guarantee and does not have share capital. Page 13