REGISTERED COMPANY NUMBER: 11882413 (England and Wales) REGISTERED CHARITY NUMBER: 1195789
Report of the Trustees and
Unaudited Financial Statements For The Year Ended 31 March 2025
for
Gloucestershire Agricultural House Foundation
Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
Gloucestershire Agricultural House Foundation
Contents of the Financial Statements For The Year Ended 31 March 2025
| Page | ||
|---|---|---|
| Report of the Trustees | 1 to | 2 |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 to | 6 |
| Notes to the Financial Statements | 7 to | 11 |
| Detailed Statement of Financial Activities | 12 |
Gloucestershire Agricultural House Foundation
Report of the Trustees For The Year Ended 31 March 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The aim of the charity is to provide grants and other financial assistance to support charities, individuals and other organisations, focusing on the farming and agriculture and associated industries within the County of Gloucestershire.
Public benefit
The charity looks to achieve these objectives, whilst demonstrating its charitable purpose for the public benefit by the provision of support for the local farming community providing them with assistance, opportunity and advice.
The charity provides the local farming community with a place where people can come together to work, exchange ideas, socialise, and gain new skills and experiences, whilst also providing financial support in the form of grants.
The Trustees consider that they have complied with their duty to have due regard to the public benefit guidance when exercising any powers or duties to which the guidance is relevant.
Grantmaking
£15,800 (2024: £7,900) of farming grants were paid out during the year. This included grants paid to the Royal Agricultural Benevolent Institution, Gloucestershire Federation of Young Farmers and the Farming and Wildlife Advisory Group.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The charity's operations this year have been in accordance with the management's plans for Agricultural House and charitable donations have been made as described above.
Fundraising activities
Funds are raised through the surplus rental income from Agriculture House and are distributed in accordance with our donation policy meeting our charitable objects.
FINANCIAL REVIEW
Financial position
For the year ended 31st March 2025, unrestricted income was £81,976 (2024: £76,893) , unrestricted expenditure was £60,501 (2024: £53,969), resulting in a net surplus and unrestricted funds of £21,475 for the year and unrestricted funds of £145,585 at the end of the year.
Reserves policy
A reserves policy has been drawn up which states that the Board seeks to keep at least 6 months of "general running costs" in unrestricted reserves.
This amounts to approximately £30,000.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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Gloucestershire Agricultural House Foundation
Report of the Trustees For The Year Ended 31 March 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 11882413 (England and Wales)
Registered Charity number 1195789
Registered office
Kingscott Dix Limited Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
Trustees
The Earl Bathurst S L Weaver Farmer A J Pritchard Accountant Mrs. A J B Ractliffe Farmer J R Cox Farmer Mrs T Robbins Farmer (resigned 13.8.25) C H Day Officer (appointed 8.11.24)
Independent Examiner
Mark Spashett FCA Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
Approved by order of the board of trustees on 21 October 2025 and signed on its behalf by:
The Earl Bathurst - Trustee
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Independent Examiner's Report to the Trustees of Gloucestershire Agricultural House Foundation
Independent examiner's report to the trustees of Gloucestershire Agricultural House Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination 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
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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 true and fair view which is not a matter considered as part of an independent examination; or
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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 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Mark Spashett FCA
Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN
Date: .............................................
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Gloucestershire Agricultural House Foundation
Statement of Financial Activities For The Year Ended 31 March 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 81,976 EXPENDITURE ON Charitable activities Farming Grants 15,800 Other 44,701 Total 60,501 NET INCOME 21,475 RECONCILIATION OF FUNDS Total funds brought forward 124,110 TOTAL FUNDS CARRIED FORWARD 145,585 |
Restricted fund £ - - - - - 750,000 750,000 |
31.3.25 Total funds £ 81,976 15,800 44,701 60,501 21,475 874,110 895,585 |
31.3.24 Total funds £ 76,892 |
|---|---|---|---|
| 8,094 45,875 |
|||
| 53,969 | |||
| 22,923 851,187 |
|||
| 874,110 |
The notes form part of these financial statements
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Gloucestershire Agricultural House Foundation
Balance Sheet 31 March 2025
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ - 44,543 115,869 160,412 (14,827) 145,585 145,585 145,585 |
Restricted fund £ 750,000 - - - - - 750,000 750,000 |
31.3.25 Total funds £ 750,000 44,543 115,869 160,412 (14,827) 145,585 895,585 895,585 145,585 750,000 895,585 |
31.3.24 Total funds £ 750,000 42,809 103,263 146,072 (21,962) 124,110 874,110 874,110 124,110 750,000 874,110 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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continued...
Gloucestershire Agricultural House Foundation
Balance Sheet - continued 31 March 2025
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 21 October 2025 and were signed on its behalf by:
The Earl Bathurst - Trustee
The notes form part of these financial statements
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Gloucestershire Agricultural House Foundation
Notes to the Financial Statements For The Year Ended 31 March 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
The freehold property and land at Agricultural House, Sandhurst Road, Longford ,Gloucestershire which was donated to the charity in 2022 at a value of £750,000 has not been depreciated as the value of the property at today's prices, at the end of its useful life, would be considered to be in excess of the cost shown in the accounts.
Taxation
The charity is exempt from corporation 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.
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continued...
Gloucestershire Agricultural House Foundation
Notes to the Financial Statements - continued For The Year Ended 31 March 2025
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Rents received Service charges and recharges Deposit account interest |
31.3.25 £ 58,679 22,226 1,071 81,976 |
31.3.24 £ 55,186 21,371 335 |
| 76,892 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Investment income 76,892 EXPENDITURE ON Charitable activities Farming Grants 8,094 Other 45,875 Total 53,969 NET INCOME 22,923 RECONCILIATION OF FUNDS Total funds brought forward 101,187 TOTAL FUNDS CARRIED FORWARD 124,110 |
Restricted fund £ - - - - - 750,000 750,000 |
Total funds £ 76,892 |
|---|---|---|
| 8,094 45,875 |
||
| 53,969 | ||
| 22,923 851,187 |
||
| 874,110 |
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Gloucestershire Agricultural House Foundation
Notes to the Financial Statements - continued For The Year Ended 31 March 2025
5. TANGIBLE FIXED ASSETS
| COST At 1 April 2024 and 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR VAT Other creditors Accruals and deferred income 8. MOVEMENT IN FUNDS At 1.4.24 £ Unrestricted funds General fund 124,110 Restricted funds Restricted property fund 750,000 TOTAL FUNDS 874,110 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 81,976 TOTAL FUNDS 81,976 |
Freehold property £ 750,000 750,000 750,000 31.3.25 31.3.24 £ £ 952 1,900 43,591 40,909 44,543 42,809 31.3.25 31.3.24 £ £ 467 512 6,738 7,592 7,622 13,858 14,827 21,962 Net movement At in funds 31.3.25 £ £ 21,475 145,585 - 750,000 21,475 895,585 Resources Movement expended in funds £ £ (60,501) 21,475 (60,501) 21,475 |
|---|---|
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Gloucestershire Agricultural House Foundation
Notes to the Financial Statements - continued For The Year Ended 31 March 2025
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Restricted property fund TOTAL FUNDS |
At 1.4.23 £ 101,187 750,000 851,187 |
Net movement in funds £ 22,923 - 22,923 |
At 31.3.24 £ 124,110 750,000 |
|---|---|---|---|
| 874,110 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 76,892 | (53,969) | 22,923 |
| TOTAL FUNDS | 76,892 | (53,969) | 22,923 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted property fund TOTAL FUNDS |
At 1.4.23 £ 101,187 750,000 851,187 |
Net movement in funds £ 44,398 - 44,398 |
At 31.3.25 £ 145,585 750,000 |
|---|---|---|---|
| 895,585 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 158,868 | (114,470) | 44,398 |
| TOTAL FUNDS | 158,868 | (114,470) | 44,398 |
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Gloucestershire Agricultural House Foundation
Notes to the Financial Statements - continued For The Year Ended 31 March 2025
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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Gloucestershire Agricultural House Foundation
| Detailed Statement of Financial Activities | ||
|---|---|---|
| For The Year Ended 31 March 2025 | ||
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Rents received | 58,679 | 55,186 |
| Service charges and recharges | 22,226 | 21,371 |
| Deposit account interest | 1,071 | 335 |
| 81,976 | 76,892 | |
| Total incoming resources | 81,976 | 76,892 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 15,800 | 6,900 |
| Grants to individuals | - | 1,000 |
| 15,800 | 7,900 | |
| Support costs | ||
| Management | ||
| Rates and water | 2,937 | 2,538 |
| Insurance | 2,359 | 4,722 |
| Light and heat | 17,596 | 7,686 |
| IT Software and Consumables | 282 | 355 |
| Property repairs | 4,184 | 7,759 |
| Management & consultancy | 5,325 | 5,488 |
| Cleaning | 5,751 | 6,610 |
| Sundry | - | 664 |
| Office expenses & bookkeeping | 1,504 | 1,391 |
| Accountancy | 2,100 | 2,000 |
| Legal expenses | 2,500 | 6,753 |
| 44,538 | 45,966 | |
| Finance | ||
| Bank charges | 163 | 103 |
| Total resources expended | 60,501 | 53,969 |
| Net income | 21,475 | 22,923 |
This page does not form part of the statutory financial statements
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