Charity number: 1183461
GOWER STREET
(A charitable incorporated organisation)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
GOWER STREET
(A charitable incorporated organisation)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner’s report on the financial statements | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Statement of cash flows | 9 |
| Notes to the financial statements | 10 - 21 |
GOWER STREET (A charitable incorporated organisation)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2024
| Trustees | Nicholas Marple |
|---|---|
| Sophie Marple | |
| Florence Miller | |
| Pearl Boateng (resigned 30 March 2024) | |
| Harriet Williams | |
| Lawrence Brobbey | |
| Charity registered | |
| number | 1183461 |
| Registered office | 57 South Hill Park |
| London | |
| NW3 2SS | |
| Independent examiners | Bourner Bullock |
| Chartered Accountants | |
| 114 St Martin’s Lane | |
| London | |
| WC2N 4BE | |
| Bankers | CAF Bank |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ | |
| Investment advisor | Investec |
| 30 Gresham Street | |
| London | |
| EC2V 7QP | |
| Investment advisor | Tribe Impact Capital |
| 52 Jermyn Street | |
| London | |
| SW1Y 6LX |
Page 1
GOWER STREET (A charitable incorporated organisation)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 1 November 2023 to 31 October 2024. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the Charities governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Objectives and activities
a. Policies and objectives
The charity's objects are to apply the income, and all or such parts of the charity’s capital, at such time 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 see fit and there has been no change in these during the year.
The aim of the charity is to make donations to charitable and other organisations, which promote charitable activities.
The grant making activities of the charity contribute to the achievement of the aims of the charity through its support of education work in Ghana and combat of threats of climate change.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Main achievements of the Charity
The priorities of the Trustees are to support Education work in Ghana, and initiatives to combat the threats posed by Climate Change. The majority of grants are made in the latter category. Grants are made only to organisations recommended to the Trustees, and unsolicited applications for funds are not accepted. During the period the charity made grants and donations amounting to £1,425,621 (2023 - £1,963,879).
A list of grant recipients is included in the notes of the financial statements.
Page 2
(A charitable incorporated organisation)
GOWER STREET
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
Achievements and performance (continued)
b. Fundraising activities and income generation
Gower Street has no external fundraising and no professional fundraisers are used.
The charity’s current policy concerning the payment of trade creditors is to follow the CBI’s Prompt Payers Code (copies are available from the CBI Centre Point, 103 New Oxford Street, London, WC1A 1DU).
The charity’s current policy concerning the payment of trade creditors is to:
• settle the terms of payment with suppliers when agreeing the terms of each transaction;
• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
• pay in accordance with the charity’s contractual and other legal obligations.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence until 2030, when the Trustees plan to wind up the charity. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Financial performance
Total income resources during the period were £230,639 (2023: £807,316).
The net assets of the charity as at 31 October 2024 amounted to £3,186,766 (2023: £4,186,598).
All of the funds invested are available for grant-making and essential overheads. The Trustees’ aim is to disburse all funds by the year 2030 and wind up the charity when the assets are exhausted, and thus have not adopted a conventional Reserves Policy.
Investment advisers have been used to implement the investment policy of the charity. The trustees are satisfied with the investment performance of the charity portfolio with investment income of £31,851 (2023: £35,978).
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The principal risks relate to the unlisted investments of the charity and the exercise of due diligence over grant recipients. The trustees have put in place rigorous due diligence procedures on initial granting of funds and also procedures for subsequent monitoring. The trustees monitor the performance of investments closely and take mitigating action where appropriate.
Page 3
GOWER STREET (A charitable incorporated organisation)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
Structure, governance and management
a. Constitution
Gower Street is registered as a charitable incorporated organisation and was set up by a Trust deed.
The charity is small family foundation which was incorporated on 16th May 2019 and is registered with the Charity Commission with registration number 1183461. The charity was formed by incorporating (as a CIO) an existing unincorporated charity of the same name, which was set up by Trust Deed dated 24th September 2007. On 5th August 2020 the assets of the charitable trust, Gower Street were transferred to the CIO.
b. Organisational structure and decision-making policies
The charity has no employees, and all decisions are taken by trustees. The trustees have also appointed Westminster Wealth as independent advisors who assist the trustees in their decision making processes.
New trustees are appointed by the existing trustees and follow an induction programme and training based on charity commission guidance.
None of the trustees has any beneficial interest in the charity.
Plans for future periods
The trustees intend to continue the charity’s activities in respect of its current grant making aims.
Statement of Trustees' responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the trustees are required to:
-
a) select suitable accounting policies and apply them consistently;
-
b) observe the methods and principles in the Charities SORP;
-
c) make judgments and accounting estimates that are reasonable and prudent;
-
d) state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
-
e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 4
GOWER STREET
(A charitable incorporated organisation)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024
Approved by order of the members of the board of Trustees on 29 August 2024 and signed on their behalf by:
............................ Nicholas Marple Trustee
Page 5
GOWER STREET (A charitable incorporated organisation)
INDEPENDENT EXAMINER’S REPORT
I report to the trustees on my examination of the financial statements of Gower Street (“the Charity”) for the year ended 31 October 2024, which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flow and related notes.
The report is made solely to the Charity’s trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity’s trustees, those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s financial statements carried out under Section 145 of the Act 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.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
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
-
the financial statements do not accord with those records; or
-
the financial statements 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 financial statements to be reached.
Russell Joseph FCA Bourner Bullock Chartered Accountants 114 St Martin’s Lane Covent Garden London WC2N 4BE
Date 29.08.2025
Page 6
(A charitable incorporated organisation)
GOWER STREET
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2024
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net (expenditure)/income before net losses on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 198,788 - 198,788 150,788 150,788 48,000 - 48,000 - 48,000 48,000 |
Unrestricted funds 2024 £ - 31,851 31,851 1,360,740 1,360,740 (1,328,889) 281,057 (1,047,832) 4,186,598 (1,047,832) 3,138,766 |
Total funds 2024 £ 198,788 31,851 230,639 1,511,528 1,511,528 (1,280,889) 281,057 (999,832) 4,186,598 (999,832) 3,186,766 |
Total funds 2023 £ 771,338 35,978 807,316 2,037,079 2,037,079 (1,229,763) (220,880) (1,450,643) 5,637,241 (1,450,643) 4,186,598 |
|
|---|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 19 form part of these financial statements.
Page 7
GOWER STREET (A charitable incorporated organisation) REGISTERED NUMBER: CE017533
BALANCE SHEET AS AT 31 OCTOBER 2024
| Note Fixed assets Intangible assets 7 Investments 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
144 542,126 542,270 (6,450) |
2024 £ - 2,650,946 2,650,946 535,820 3,186,766 3,186,766 48,000 3,138,766 3,186,766 |
- 348,757 348,757 (9,000) |
2023 £ - 3,846,841 |
|---|---|---|---|---|
| 3,846,841 339,757 |
||||
| 4,186,598 | ||||
| 4,186,598 | ||||
| - 4,186,598 4,186,598 |
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on 29 August 2024 and signed on their behalf by:
............................
Nicholas Marple Trustee
The notes on pages 10 to 19 form part of these financial statements.
Page 8
GOWER STREET
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. General information
Gower Street is a CIO and is registered with the Charity Commission (Charity Registered Number 1183461). The registered office is 57 South Hill Park London NW3 2SS.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Gower Street meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs.
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 attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 9
GOWER STREET
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Intangible assets and amortisation
Intangible assets are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Computer software - 33 % straight line basis
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 10
(A charitable incorporated organisation)
GOWER STREET
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
2. Accounting policies (continued)
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 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 Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Donations Total 2024 Total 2023 |
Restricted funds 2024 £ 198,788 198,788 |
Unrestricted funds 2024 £ - - |
Total funds 2024 £ 198,788 198,788 |
Total funds 2023 £ 771,338 771,338 |
|---|---|---|---|---|
| 70,250 | 701,088 | 771,338 |
Page 11
(A charitable incorporated organisation)
GOWER STREET
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
4. Investment income
| Income from listed investments Investment interest receivable Total 2024 |
Unrestricted funds 2024 £ Total funds 2024 £ Total funds 2023 £ 27,572 27,572 31,131 4,279 4,279 4,847 31,851 31,851 35,978 |
|---|---|
5. Expenditure on Charitable Activities
| Grants to institutions (see note 5.1) Support costs (see note 5.2) Governance costs (see note 5.3) Total 2024 Total 2023 |
Restricted funds 2024 £ 150,788 - - 150,788 70,250 |
Unrestricted funds 2024 £ 1,274,833 84,038 1,869 1,360,740 1,966,829 |
Total funds 2024 £ 1,425,621 84,038 1,869 1,551,528 2,037,079 |
Total funds 2023 £ 1,963,879 68,020 5,180 2,037,079 |
|---|---|---|---|---|
Page 12
(A charitable incorporated organisation)
GOWER STREET
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
5.1 Analysis of grants (continued)
The Charity has made the following material grants to institutions during the year.
| Name of institution PEAS AfriKids Grace Labs Limited Peers for the Planet Ltd Lively Minds Anonymous Strategic Youth Network Kasa Initiative Ghana BCAN Ghana IPPR Coal Action Network EduSpots RAINS CAMFED Climate Spring Desmog UK Limited Uk Tax Justice Wild Card ORGIIS Other grants to institutions |
2024 £ 120,000 71,664 60,000 55,000 50,000 49,988 49,200 46,420 45,000 40,000 36,131 34,100 33,938 30,000 30,000 30,000 30,000 30,000 29,520 870,961 554,660 1,425,621 |
2023 £ 89,070 89,859 - 55,000 - - - 80,990 91,800 30,000 28,275 27,500 30,853 40,000 25,000 - 15,000 - 25,000 |
|---|---|---|
| 628,347 1,335,532 1,963,879 |
Page 13
(A charitable incorporated organisation)
GOWER STREET
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
5.2 Analysis of support costs
| Depreciation Legal & professional fees Charity expenses IT software and support Consultancy costs Foreign exchange (gains)/losses Investment management fees Bank charges |
Total funds 2024 £ - 6,524 5,895 270 62,532 88 8,651 78 84,038 |
Total funds 2023 £ 852 16,885 1,839 - 48,384 - - 60 |
|---|---|---|
| 68,020 |
5.3 Analysis of governance costs
| Trustees’ expenses Fees for the independent examination (2023: audit) of the Charity’s annual accounts Total 2024 |
2024 £ 2023 £ 129 680 1,740 4,500 |
|---|---|
| 1,869 5,180 |
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 31 October 2024, expenses totalling £ 129 were reimbursed to 1 Trustees for travel expenses (2023 - £680 to 2 Trustees).
Page 14
GOWER STREET
(A charitable incorporated organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
7. Intangible assets
| Cost At 1 November 2023 At 31 October 2024 Amortisation At 1 November 2023 Charge for the year At 31 October 2024 Net book value At 31 October 2024 At 31 October 2023 |
Computer software £ 2,556 2,556 2,556 - 2,556 - - |
|---|---|
Page 15
(A charitable incorporated organisation)
GOWER STREET
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
8. Fixed asset investments
| Listed investments £ Valuation At 1 November 2023 2,494,398 Additions 498,832 Disposals(1,125,784) Revaluations 313,313 At 31 October 2024 2,180,759 Net book value At 31 October 2024 2,180,759 At 31 October 2023 2,494,398 9. Debtors: Amounts falling due within one year Prepayments and accrued income 10. Creditors: Amounts falling due within one year Accruals and deferred income 11. Financial instruments Financial assets Financial assets measured at fair value through income and expenditure |
Unlisted investments £ 1,352,443 - (850,000) (32,256) 470,187 470,187 1,352,443 2024 £ 144 2024 £ 6,450 2024 £ 1,012,314 |
Total £ 3,846,841 498,832 (1,975,784) 281,057 2,650,946 2,650,946 3,846,841 2023 £ - 2023 £ 9,000 2023 £ 1,701,200 |
|---|---|---|
Financial assets measured at fair value through income and expenditure comprise cash at bank and unlisted investments.
Page 16
(A charitable incorporated organisation)
GOWER STREET
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
12. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Restricted Funds Total of funds |
Balance at 1 November 2023 £ 4,186,598 - 4,186,598 |
Income £ 31,851 198,788 230,639 |
Expenditure £ (1,360,740) (150,788) (1,511,528) |
Gains/ (Losses) £ 281,057 - 281,057 |
Balance at 31 October 2024 £ 3,138,766 |
|---|---|---|---|---|---|
| 48,000 3,186,766 |
Restricted fund balances include funds received on behalf of other charitable organisations to be transferred directly towards various projects, with Gower Street acting as the conduit.
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Restricted Funds Total of funds |
Balance at 1 November 2022 £ 5,637,241 - 5,637,241 |
Income Expenditure £ £ 737,066 (1,966,829) 70,250 (70,250) 807,316 (2,037,079) |
Gains/ Balance at 31 October (Losses) 2023 £ £ (220,880) 4,186,598 - - (220,880) 4,186,598 |
|---|---|---|---|
Page 17
(A charitable incorporated organisation)
GOWER STREET
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2024 £ Unrestricted funds 2024 £ Total funds 2024 £ - 2,650,946 2,650,946 48,000 494,270 542,270 - (6,450) (6,450) 48,000 3,138,766 3,186,766 |
|---|---|
Analysis of net assets between funds prior year
| Unrestricted funds 2023 £ Fixed asset investments 3,846,841 Current assets 348,757 Creditors due within one year (9,000) Total 4,186,598 |
Total funds 2023 £ 3,846,841 348,757 (9,000) |
|---|---|
| 4,186,598 |
Page 18
(A charitable incorporated organisation)
GOWER STREET
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
14. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2024 £ 542,126 542,126 |
2023 £ 348,757 348,757 |
|---|---|---|
16. Analysis of changes in net debt
| Cash at bank and in hand | At 1 November 2023 £ 348,757 348,757 |
Cash flows £ 193,369 193,369 |
At 31 October 2024 £ 542,126 542,126 |
|---|---|---|---|
17. Related party transactions
Charitable grants of £4,300 (2023 - £11,335) were made by the charity to Students Organising for Sustainability UK. H Williams, a trustee of Gower Street, is a trustee of Students Organising for Sustainability UK. H Williams was not involved in discussions or decisions relating to this grant. There are no outstanding balances as at 31 October 2024 in respect of this transaction.
Page 19