ID.. AD92E61&EEW3D2-9AD2.F17W11FGC REGISTERED COMPAYI Y NUMBER.. 14017653 IEnglnd and Wiles) REGVSTERKD CHAIUTY NUMBER: 1199371 R¢port of ¢h¢Trysttts gnd Unaudited Finineihl Smtemtnis ForThe Y¢ar EDd¢d 30 April 2025 for Galle•n Foundation AETFXJAG• 1010112026 COMPANIES HOUSE *154
ETh0 ID. Ar&2E61t3D2-9AD2.F)76AO11Fc Galleots Foumthtw Contentsofthe Financial Stsiemtnts ForThe YearEnded JO April 2025 Pa8e Report ofihe Trustegs 1 10 5 IndepenthTht Examincrfs Rtptsrt Ststement ofFinantilll Atlivilits BIlADte Sheet Notts to the Flth#ntlxl Stilements 9 10 14
DuTr3n ID.. AO92E61E3D2.BAD2.FlléA0l•fc0D Galkoth Foundtio oietisttd numther.. 140176531 Report of the Trn5teos ForThe Year Ended JO April 2025 Tr ¢wste¢5 who ar¢ also dired(ws of the charity for the pw]x)ses of the Comp)¢es Ad 2006. pr¢%nt their rp)rt with the finw)cial Stsletnents of the chwity for the yetr en(kd 30 April 2025. The tree$ have adopied th¢ provisions of Accounting and Reporting by Ch8rili¢s.' Stsi¢m¢nt of R¢wmtnen(kd Practice applicable to chariiie5 wepaTing th¢ir accounts in accordance Ivith the Finarbcial RepMin8 Stsndartl wliuble in the UK and Republic of Ireland IFRS 1021 lefflIVe l January 20191. sTRUcfL GOVERNANCE APtD MANAGEMENr Th¢ Charity i8 a company limid by guaron(ee (No. 14017653X governed by its Meznorandwn and Articles of Association 3nd was inLX)rporated on l April 2022. Its Charity numt¢r is 1199371. The charitsble company is mana8¢d by the diligen& of ils Tntstees tneei regularly for the discussion of its 1n¢55, relevant mallers fInela1 reFrf)ns. Ttt¢S are eleLed at the Annual General Meeting. in axordatxe rith th¢ TeqUiTemthi oudined in the 8overnin8documenl ond inaccordancc Mryth the rewirements ofthe Charity Commissien. ThE Trustees of the charitable (x)mpany during the p¢riod W¢ &5 foll¢)7. Mr5 A F Ch&pman-Daniel. Truaee Ms S A Cknpman-Danie1.Tne MT5 D P Wi150n. Trtte The T)iJst¢es have a55ess¢d thc major risks to whith the charitable eomwy is eKpox& in th05¢ T¢lw¢d io th¢ OAllOnS )d financ of th¢ thgritable cotnpany. and are satisfied sysms and prottdur¢s r¢mwn ITh plac¢ manag¢ exposu 10 th¢5¢ major risks. 2025 LY)niins to pent thlenge5 in lh¢ wider ¢wnoJni¢ and gropolitieal landscape. lThcrt&sin8 inflation in the UK and worldwide, higher interest tates global stspply chain instability have contributed 10 ongoing wsi incre¢$. Other imparts seen in 2024 peTSiSt, including the coniinuing (y)nfli¢l in Ukrnin4 inability irt the Middle E&%t and broader internatiort tenSi(X which have etead uncertaknity a¢ros5many 5e¢tW5. The charitable LX)mpany h&% continued 10 regulady review ils ¢osI base w ideThDfy efficiencies and minitnise expeThlituie where [Sible. The TTU5tecs mgintsin a ri8OTOUS approach fman¢ial over8hi, ensuring zjl $pending remai] approla, ronb]e and financially 5U5tainable. while Safe8vding the orwusaii¢)ns ability to supp)rt the arts and htritsg¢ secior. The Trnstees mei regularly throughout the period atjd have ronlinued lo th) $0 after the yeat-end. All eommtttejj fvNtin8 and charitable income is rtviewed ai these meetill and th¢ TnTr¢s satisfy dMSelveS that adequate fithds tre heid for all (x)mmilments. ReseNes aTe maintoined in line wth the chori5 intrniion of keIngM on 4 lon8tr-tenn iA%is. Grants and donations conlinuE to be reviewed on a ¢L%ety-case basis and arc approved ¢nlir¢ly at th¢ discwion of the Trnstees after confirn)ins sufficient funds wll rtmain 10 sustaitt ongoing rlOn5. Thc and dOnlOn5 awwd¢J are unfelleff4 the compmy doE5 nolexpetl to Ralise a fla1 reiwn on these award5.
Enbt4YO IO.. MD92E61&Ef8WD2-W2Ir&aIlIlFCoD Cllton Founditlon (Rwsttrtd humbtr. 140176331 Rert of th¢ Trysteos ForThe Yr Ended 30 April 2025 The objectives of the choritable conJpany aTe to supp)rt a range of 0rsanis8ti(X as local uxnmunity &)d voluffl UF61 pArticlaTIY those hAve a wim8ry fo¢Lts or op2faiion wthin the I. history of art & 8T¢hicDJre and b¢ritsge spair. Or8WUSatioDs for which the Chil2b1e COTnpany rnay PTovide grdnts ¥J donations aTe identified by the nature gnd aims of their ongoing includiJ)g Ih¢ir imp&ct and strive 10 i]nprov¢ Bnd enhÈnLY oprll1eS wthin lrtal tommunilie& IxAh in tht UK rxrtsin overseasicrriiori¢5. The and dLWJalion5 thai the ¢haritsblc company a8rees to enter into are reviewat on a GW+bY•& ba%is and are enlirtly at the disttetion of the Ttusle¢5. Th¢ wts and dthations unfettered and the ¢h4riiable compèny does ft expect to reISt a relurn on the wv¢n. In settin8 obj¢ctiVC5 )d plannin8 for Xlivili the TnLslee5 have given due consideration 10 erra1 guidanLY publithed by ihcchgrity Commission y¢la(ing wbli¢ b¢nefiL includingthe 8uidantr'Publi¢ benefit.. runninga chatty IPB21'. The truses confirm thaL in the ¢xeT¢ise of their rrf>wE ¥ Charity Trus1¢¢5, th¢y have had du¢ r¢wd lo the published guidance frotn the Charity CoMms1on 14th¢n Tenewing the ¢h8ritable company's aims objeaives and in pIaring firture adivilit& During the WiLKI t¢h¥e¢n 2024-2025, the charitsble company award o number of grants consienl its eore objectives of supporting the arts and herttaee secloTS. A 8Pdnt was awarded to World Monuments Fuj IWMF). refletting th¢ chty.5 commitsnen¢ lo the Prrvolon of Cultural berita8¢ and orchitedure. It) additiotL smaller nts awarth4 including gjpport for th¢ Richmond MuwJm, the Nation Arthives Education Ptoject. art installation and losupponyoung musicians Such Llkrainian musicians in the UK. All awor4J¢d during the p¢riod firmly aliwd the tharitable ¢ompany'5 aiJt of adv¢8 and SUa)ning the arys and h¢rits8e. tnv¢sun¢nl ITh)e u)nlinues w PreI the prirrwy souree of &vaiia>le for the distribution of 8rants. The Tntstees have xloptsl gJJ inwe5bTheni policy to £nsuTe that the charitable comp3ny5 fi] 2Te managed prudcnify and in line wilh its obj¢clivtt. Th¢ poli prioriiiSfS capitsl while &thicvinE a fflrlea r¢turn to $uprth the tharitable wmpanys aciivliies. The charitable comwy primartly iDYests mow markei inmments Hryth a rnatsrity of up lo 12 months. These investm¢nLS s¢l¢u¢d lo mwni?in liquidiry and reduce risK ¢nsurin8 funds are r¢adily ttvalabl¢ to meet opeTation Achitvernents nte The charitsble cOMpY is building iL% c&th reseryes from which il h&% Len making and donations in the advanment of IL% objectives. 7his adivity the malong of some grants anddonaiions have ¢onlinued. Whilst the charitable coThp3ny doe5 not exrKL to tre a refvrn on the granL% and donaiiot15 the Tnk%tees have SOU8ht routes from whith financial Teturns t be obtoine41 on the Cash balances ILeld. the returns of which will be direcily rewvemed gnd for the ch¥lble coTnpHny'5 Pritrwy Obj(lY¢S and ¢haritabl¢ activiti¢s. Tr charitable £oThpanys incom¢ i5derived from donations wltith are receivej from privaie Individu$. Th¢ ¢harithble company not wy out any other 5pE¢ific fvndraising xlivity, and any (thr lUn ore 8tstsaitd from th*rest income CBrned on balw)S held and on temF4)Tary fixed.lerm dcposits. Page 2
cpJsW En%Tlwe ID.. AD92E6lE0D2.9AD2.Fl10Ol1FC00 Galleom FoundAlioth IRe8bSttrtd number. 140176531 Report of theTrustees For.Tthe Yur Ended 3• April 2025 The ¢haritable comwy's actiVili¢5 have m8uJiaincd at a 8enernlly Jow level while TcservEs art bolsttred by investsnenl inwme bul il is reviewng and providing some lo suibl¢ parti¢4 supp)rting new8nd e$tIng projects in the arts and heritage space. Should the charitable company rtguire additional funding they will consider the prospect of FundraisiTrg activilics discussing ongoing 5UPWrt with private individuds and thnor5. The osh balatLees 8nd assets of the Chtable COMpY 11 b¢ eontinually rvi¢wed an %%there exLYSS LSh or Convertible tssets are held, these may be wnsider•l lo invesd tr provided on B short-leTm basis lo generate a financial return, wlul$i ensuring satisfa¢iory liquidity and ac¢essibiliiy 10 maintatn financial stsbility. li is intended that ry financid Tetum 8ener8t&l would be wlJDlly for the fiuthernice of the charitabk wmpanys obj¢¢liv¢& Th2 5EateJnenl of financial artilies for the rIOd ended 30 April 2025 5howE txwdiiure of £48,168 12014.. net incorne £63,902). A5 at 30 April 2025. the net &ssets weye £1.140.931 {2024.. £1.189.099), of Mthich £996,255 {2024.. £679,447) cash held. eXpdIture durin8 the PEritrJ primly consisted of xcountcY ¢05¢s. dc•al¢ons made in the advancement of th¢ ¢h8ritsble companys objectives. As the Charitable ¢otnpany hLs now been 0r70ft for over year. thesecosts Teflea itsongoing¥clivilie5 and C1mItt<t lo achieving its tharitabk SoS. The TnJste¢s conS¢r th¢ finanwal posilton of the Foundation ts tst 30 ApTiI 2025 iobe$81isfa¢tory. The Tntstees have de£ision-maknng auihority on how th¢y M98¢ R¢%rY¢s and Inve5tsnenLS. They have wnsidered the stale, complexity and risk profile of th¢ charitable company and 12ken accwnl of the hndinB b&fe, which mainly consists of donaticrfjs. The T(t¢S aim 10 bal¥¢ the nttds of ¢ury¢nl fvwre beneficiBries. On an ongoing b&is. the Trustees pl8rt to genents suffi¢ieni income fmm invesTheni aaiviiles, in¢luding holding ¢x¢¢ss hlBnce5 hi8h inrerest yielding a¢thints. such thai financia) t?m$ gener&¢d whi¢h ryI1 enable the charitsble COMpY to fiLTrJ aclivilies for current benefi¢i¥ies for the shoo medium long4¢mi. U[¢#¢1ed reserves 8Te avlable for use by the Trustees ftUthera¢ of th¢ 8¢nern] obj¢aivts of lh¢ clwitabk company and enabk il lo rneel its c&h flow neets. The Truskes moniior th¢ fvnd I15 to ensur¢ th¢y ar¢ sufficient lo fi)dth¢ ChItable wmpaThy's core ex]nditure. REFERENCE AND ADMIMsfBATIVE DETAILS Registered Cofflpany number 14017653 lEd and Wales) RtgSsrettd Charity nwmb¢r Registered offite On¢ Bartholomew Close Lond¢)n ECIA 7BL Trusttes A F Chaprnan.Daniel S A Chapman-Dani¢l D P Wilson Page 3
LXKu6ban Erhl)F410". AD92E61&EE8H3D24Atrd-F17WJ11FCOD Galkon Foundation IR¢gi5ttttd number. 14017653) RtpDrtof tht Trnstets ForTht Y Ended 30 April 2025 REFERENCE AND ADMIMSTRATIVE DETAILS Ind¢pend¢nt Ex4rniNer FullerSpwlin8 Mill House 58 Guildford Streti Chert%ey SuTrey KT16 9BE TRUSTEES, RESPONStBILITY STATEMENT Th¢ Ttee$ are a]so Directors of GalleoTh Foundation for the purrthes of Company are res[K)l]e fer preparing th¢ Trust¢es' Amual Rewn 8nd financial 519tements in a¢¢ord8ttce with 4>plitable law and Unid Kingdom Accounting Siandarts (unit Kingdotn GeneAlly Aepted AcLXK]nlingPraciict}. Comp)y law require5 the Tnlet$ lo pr¢p8r¢ financial stat¢m¢nts for eh fiancIal year. which give A kne fair view of Ihe sw¢ of Bffairs of the charitabl¢ wmpany Bnd of th¢ irKotninB soUrteS and application of re50ur¢es. including the income and expendiwr¢. orth¢ charitable company for that P2ri0d. ]n preparins thEse fan<1a1 statemets, the T¢¢$ are required to.. sele¢1 SU11¢ a¢couniingp)li¢i¢s and th¢n apply them consindy ob5ewve thtm¢thfNJs and principles in the ClntIeS SOKP 2019 IFRS 1021. make judgements at)d timai¢sthai wr asonable and pNdeni: stsie thether applicable UK AcL¥)unting Stsndards have tten followe 5ubj¢d lo any n]aierial departu$ disclosed and explained in the r)nan¢iai sta¢em¢nts' prEp8re the financial statements on th¢ goirtgeoncun basis 1¢55 it is inapproprial¢ to pre5urne that thc tharitsble L¥Jmpknywll contthue in qxration. The Tru5tcEs are resp)n5ible for keeping adequate accounting that disel¢)se with reLsonabk atcwacy at any lime the financial )llon of the thariiable a)mpany and enabl¢ them to ensurt that the financial statsments eomply the Companies Ad 2006. 7]JEy arE responsible for safeguarding the assets of th¢ Chtable comp8J)y and h¢n¢¢ for taknng renablesp$ forthe preveniiott and de¢¢aion of fTRud and irF¢8ularities. The Tr(Lsiees are res5k)nsible for the mttintenance 8nd iniwity of the ¢otpor8t¢ fin&D¢i81 rorn7al1On Includ on th¢ charitsble companys MEbsite. ik8islaiion in the Ullid Kingdom 8OVtrnlD8 th¢ pr¢pBrntion artd dissemination of financial slatetnents may differ from te81s110n in othu juril¢tions. Legg1 slaths of the charity The chartty i5 a comp3ny lunil¢d by 8IKiraniee hts no share ¢apitsl. The liability of ¢h mEmkr in the event of windin8-up is limited to a rtwimum £10. in Each ofthe are Tru5tccs at the lime when thT]Slee$, Rep is opprovedhas confimtd th&.. so fyr 45 thatTru5ree 15 aw thcre is no relevant audit information of wknieh the¢harity indeF¢nda)I Trustee h95 tthn ail the5¢ep5 th4tOU8ht to have t3ken &$ aTrustee llh OtI to be awtreof any levani audi¢ roMi&l0 ¢sNblish th& th¢ charity'50udiior50re Iware of thai infojmaiion. PaBe4
GMilon Found#tion (Rtei¥tsTed number. 14017653) Reportof tht Tn¥ttes ForThe Yt4r Ended 311 April 202S Thi$ Ytport kn beeD prewed in a¢cordan¢¢ wilh th¢ 4x¢ial provi&ion$ of PArt 15 of the CoMpleS Act 2006 Rlati118 to Sm1 Corne Appmve4] by ord¢rof th¢ iwrd of tsu4e¢s on ............. . and signed on its Lh[by'. AF ChapmaD-DaDiel- Tnjsiee Ps8e 5
Dn Enwlcw ID'.M)O2E61E1H3[r4-9ND2.Fl7BO11FCOD Independem ExamintW¥ Reportto the Tnytoegof Gill¢on FouThJation Independenteyamlner's repjrtto the trustees of Galleon Frnation Cthe Company) I r¢wrt to the rharity tiwsi¢e50n my examination of rhe accounts of thc Q)mrAny for th¢ yw ¢ 30 April 2025 R¢wn8iblildt5 and b1& port As the charitys iruslce5 Qf th¢ CompHny land dso its dirwlOt5 foi the purp05f5 of wmpany lwl you at£ reswJnsible for thE Pt¢paration of the arcounls In 8¢man(¢ with the regUlrtn)ents of th¢ Compani¢s A¢t2006 rih¢ 2( ACYI. HAviTrg sHti$Ged mysElf thal ihe oUts of the cOmnY are not TeouiAI ro t¢ under P8rt 16 01 the 2006 A¢1 and e eligible (or independent &yaminatiO I rewrt in r¢sp2cI of my exarnination olyouT ¢harity5 arrovnls as ¢81¢d ollt undBr Section 145 of the Ch8riti¢s Act 2011 1'th¢ 2011 ACVI. In wn8 OUI Thy gxamination I have followed rhe "rections 8ivett bythe Charity Commission under Se¢tion 14515)Ibl of the2011 Att. Independent ¢x2miner'g Statement I hav¢ ¢ompl¢tcd my ¢xwhinabon l Confirm that rrf) maff¢rs hav¢ come te my attction in conmcction with the exÈmiE)ation givlng me cause to belicvt.. ae¢ountin8 Tecords not kcpt in r£spBCtof the Company asr4uited by Scction 386 of Ihe 2(MNS Ac¢ or the a¢counts do froi eId wilh those rt¢ords'. or th¢ B¢CA)unts do ttor wrnply 1th ih¢ accountin8 rquir¢m¢nts of S¢£tion 396 of the 2006 Act oih¢r than any iequ¢r¢m¢nl th th¢ ac¢ounrs WV¢ O and fair view tvh¢"¢h is not a mailer coNid¢red of an ind#Ftk4tnt cxaznination,. or the 8QUnts have not been Fxep8rtd In A¢cordan¢¢ with the methods and prin¢ipl£s of the Siat¢m¢ni of Re¢ommended Pti(¢ for arcowiting Rnd t¢P)rting by chariii¢$ l$kwii¢•ble to chariti¢S pr¢parin8 their qr¢ovnlS in8¢cordte wth the Financi Repottin8 Standqrd appli¢able ITh the UK and R¢wbl¢c of Ireland IFRS 10211. I h&v no ¢on¢erns hav¢ (x)me a¢ros$ no othtr mArters irj tonne¢ion Wilh the examination w whJ"¢h 8tt¢ntiott $houJd t¢ drawn in tllls reFx>rtin tsrd¢T ¢nablea pro1 undersndIng of th¢ 4¢¢ouni$ k) t* TraGh¢d. $4n¢•thr. aTDes Clayk BA(Hons)FCA Fuller Spuding Mill Hou5¢ 58 Guildford Street Chtrtw SUeY KT16 9PE W1.2028 Po8e 6
ITr. A092E61&EE8943D2-9ND2417&4011FCiYJ Ffjundattn St*ttment of Finin¢ial A¢livili¢s ODtorporatin¥xn Income Exptndliure A¢eouTrtl ForThe Y¢ArEnd¢d JO April 2025 30.4.25 30.4.24 UnTEStriLtrd fimd fun(Lfi Not¢s INCOME AND EiYDOWMENTS FROM tk)nwion5 and k8acies 50,0 Investtnent in¢ome 44.478 44.007 Totsl 44.478 94.(X)7 EXPENDITURE ON Charif4bie activiti tigua & Bartd& Youth Syrnphony OrdJtstrA Bohdan Ilnytskyi Support wsts Other Royal Oversea% League World MonumEnts Fwid Muscum ofltichmond Nguonal thhiv¢ Be tknchmond 13.000 5,5(K) 12,324 6.299 5,000 13.052 5,7Y 10,000 42.394 5.0 1.928 Total 92,646 30.105 NET INCOMFJ(EXPENDITUREI 141,1681 63,902 RECONCILIATION OF FUNDS Total funds broughi forward 1.189.099 1,125.197 TOTAL FUNDS CARRIED FORWARD 1,140,931 1,189.099 The nrA¢5 form partof these r][wici statements Pfjge 7
DutyJin Err• I.*e$lE8jo4AD2.F1Y&1o1lP¢oD CalleoTh Fourvjarton Oie8tstered numb¢r.' 14017W} Balantt Sheet 31J ApT512025 30.425 U)westri¢itd 30.4.24 Tot¥J CURRENT ASSETS D¢Or$ Jnv¢skn¢nlS Cash bamk 3,716 150.927 996,255 6,179 511,470 679,447 .150.898 1.197.096 CREDITORS Amountsfdling du¢ wrtun ye4T {9,967) (7.9971 NET CURRENT ASSETS .140.931 1,189.099 TOTAL ASSETS LESS CURJIENT LIABILrrIES 1,140.931 1.189.099 NET ASSETS 1,140.931 1.189.099 FUNDS Unrestrided funds 1.140,931 1,189.09) TOTAL WNDS 1,140,931 1,189.099 The charilable ComppY 15 entitled to ex¢mptiOJb from suthi under SECtio 477 of the COMF1¢5 A¢1 2ts)6 for the y¢ar ended 30April 2025. The members hav¢ t Tequired the MrnY to obtsin an audit of its fin8n¢i81 tht¢ments for the ¢nd¢d 30 April 202S in accordance with SxtiDn476 oltht G)mFoni¢s Act.2006. ThctnJstee5 RckMwled8¢ theirreswnsilMlitie5 fer {a} cnsurin8 that the ¢haritsN£ comF4Thy keep5 Onting tecord5 Ihat comply wth Serlions 386 Rnd 387 of the Comrwni¢s Act 2006 8fid preFnn8 financid ststements 1¢h give a true fwr vtew of the of affair5 tsf ihe Gharitsblc MpanY as at th¢ tltd of cach finan¢iAI y¢ar and of its SUTplus Or defj£it for each financial ye4r im Lccordanee the ir¢m¢nrs of Se¢iions 394 8nd 395 and which otherwi% CoMY with th¢ requircJn¢Jts of Ihe ComrAnies Act 2006 rel)9 ro fing¢la1 Stsiemen so far applicabi¢ 10 th¢Chatable company. Ibl The finan¢i81 starements have ittn pr¢F4rrd in a£<ordan¢¢ with rh¢ pmviwotts applicabl¢ ¢0 ¢hanMbl¢ comtthni¢s subi¢Gt ioihe small mOnieS re8im¢. cial stsi¢mtThts [¢ apwov¢d by ihc Board of Tnw¢¢s and 8utlx)rised for issue . and were 518ned on itsbehdf by.. on A F Ch#pman-D8wel- Trustee Th¢ notC5fonD 5Mrtof ih¢se financial statemeDts PA8e 8
DocLqlw EnY&oFelO.. AtYd2E61&EE8W02-9AD2417W11FCOD Gl¢on Foundatio Noles to iht Fiuneial StAkmtnt$ ForTh¢ Y¢arEnded 30 April 2025 ACCOUNTINC POLICIES Ba$igof prtP4Yill8 ihe finanei415tr1emtThts The fthaft¢ial siaments of the ¢h8rithle pDy, wthi£h i8 a public bth%frt entity under FRS 102, hav¢ b¢¢n ptEpared in ac¢ordance Mith the Charill SORP {FRS 102) 'AccountinB and Report2n8 by Charities.. Statement of Recotntnended Practict applicable lo charities rttpanng their accounts in accordan the Finan¢i41 Rew>rting Standard applicable th the UK and Rewblic of Ireland IFRS 1021 leffeuive l Janugry 2019)., Fin3ncial Rep)rtin8 Stsndard 102 The Fiman¢ial R¢poffinB Standard appli¢able in the UK Republi¢ of Ir¢lHnd' and the comp¥ie$ Aci 2006. The finan¢i¥l stlltements have prepared uThJer the hiswrital cost Éy)nv¢Thtion. Golng ¢on¢ern ThE Tn&tees, havin8 Consider the financial [sitIOn of the tharitable tompkny as well w its fvlwe wms and fore£ast t10. have wnclud¢d the charitsble COMpY wll eontinue 10 for th¢ forCeable fiLbc And ai lea until 12 months from th¢ SI11n8 of these finonciai Statemen As a result ofthis, the fm8nci staiements LY>niinue to Lx prepared on the 80ing conLfrn basis. The financial stsiements do irKIth any adjustsnents thai Wld required if the goin8 concern concept w&% notdeemed ap5wria. Criti¢$l ¥¢¢ounting judgmtntS8nd key sour¢e$ ofe$timatio• un¢ertainty The prepBrdlion of the financial $tatements requires the Tnjsiecs 10 mak¢ judg¢menty estiThates ad L$SPIlOnS affect the amounts rery)rted. These esiimaies end judgements ar¢ ntinu[lY and are b&ed on ¢xp¢ri¢nc¢ and other factors, including expedaiions of fuwre events thw ar¢ believed to bE relsonabic uJ¢r the ¢ir¢umances. Actllaj results tnay differ from these elliMa. Accrued inc¢ is recognised th enlitletneni has been e5tabli5hed bui ¢nry)m¢ h&5 llQt been received it the Ye end dale. The estimation of accrued income requirts jud8¢m¢N itt asse5$ing the iThleresl generatd fr money invcstm¢nt5 hEld attheyearend date matsring8fterthe 30th April 2025. Fin4#cil Innrnm¢nts FiTbancial gnd financial li8biliLies kre rt¢wid in the b8lantt sheei Mthen thE ¢haritsbl¢ Gompony be(4)me5 a pgny to th¢ ntlU8[ PTovision5 of the instrumenL Trade and rrther dtbtor5 and creditor5 are la5sifiEd as ba5i¢ fwttc1 InstMents and measured at illitial recOlt10n ai transa¢tion price. Cash ¢a5h equivalents axe ¢Ilfied a5 basic fin8ThGia] instnllnents Ind eompTise wh in hand ai b8nk Financial liabilities are ¢lLssified in at¢ordanee wqth the 5ubstsnL% of wntractual orrdngements enieThl into and the definitions of a fmancia] liability. Incomt All income 15 r¢w8nised in the Siemeni of Financi Adiviiies once the thrity h&% entiiletnent kn the fuThls. it is probable thal the inc4)me %4ry11 be received and the amouni can Lx measured reliably. Expendittire Liabililies ale te&)lSed a% exyendj1u swn a5 there i5 a k8al or Ix)nstrudive obligation commirtwg thc charity to that expenditur¢ It is probable that a transfer of e£on(xnic benefits I11 be Tequittd in settlement and the amount of the obli8aiiott c¥n Meured religbly. Expenditure is aca)unted for an accru$ ba4s and ha5 be¢n ¢lwifL¢d under headin8s thai awe8ate a]1 ¢05t T¢iat¢d lo th¢ weEory. whe Costs cannot be diredly tyibuled lo particulzr IadIng5 ttjey have laed to ¢ville5 on a bBsis consistent with th# use of r¢5CWtt5. Gramts offered subjeu lo ndITiOnS whidj have nDI tnel at the year date are tted a5 a coffunitment not a¢¢wed as exkxndilll Taxation Ib¢ charity is exempt froTn LX>4X)ration ttx on its charithb1tI1vltle$. Unr¢stricted cart be u8*J in a(wrdanre with thE ¢haTitabkobjective5 at the discretion ofthetsu%tees. ntind...
Docuslw ErnOF¢ ITr. AD92E61fvEE8WD2-9AD2.P17èA011fCOD Galleon Foyndalion Nfjtes to the FinaDci81 Ststtmenl$- toiitihued ForThe YMrEnd¢d 30 April 2025 ACCOUNTll¥G POLICIES- ¢ontinutd Fynd 4ccounting Restricted funds can only be for l¢U1 Testricted purp05eS the objeds of the charity. Restrictions arise wth¢n Specifi bythe th)rJororwhen thcLs art rased forpgJt1cui8rr¢stri purp05¢5. Furth¢rtxplatK4lionof the nature and purpose ofeaeh fimd is included in the notes to th¢ fina781 5Iatements. Cash at bahk C¥h al bank irttludes ¢ath held in cwrenl accow1 dctx)sil aLrounts, and money market maturing rythin thr& months of the ye4r-end. These balwces45ated at their nOnI1 vÈlue. VEST[ INCOhlE 30.4.25 30.4.24 Dwii account iniue 44,478 44,(X17 SUPPORT COSTS )vemance FinanLr Trtsls Supp)rt costs 39 12,285 12.324 SupporteC6t% indudoj in the abo art as follows.. Finthet 30.4.25 Su5Wrt eosts 30.4.24 Tothl a¢iiv¢iie5 Bank Charges 39 Cov¢rnan¢¢ ¢o$ts 30.4.25 Suppon 30.4.24 Tothl activities Independent exanuttation fees AuntaLY *d legal fees 5.000 7.285 4I00 8.252 12,283 13,052 Page 10 ¢ontinu¢d...
DorJJdw En¥0T0 ID..j92E61$ÈE83D2.9AD2.FI7&AolIFcL GAllton Foundaik)n Notes to th¢ FiTrAncial StaternEnt$- eontinutd ForThe Yt4r Ended 3LI April 2025 NET INCOMEIIEXPEf4DITUBEI N¢¢ InWmend1tUrtI is stated after¢harginW((Yediiin8).' 30.4.25 30.4.24 Other accounthmcy s¢rvic¢5 IndeNent eXaMinlOn f¢¢5 4.650 5.000 3,000 4,800 TRUSTEES, REMUNERATION AND BENEFITS ThBTe were no tr¢$, remuneration or other benefits for the yetr ended 30 April 2025 nor for th¢ yeor ffldrd 30 April 2024. Trn$tees' expenyc5 During th¢ y¢Jr, the Tru$iee, ATM FTanees Ch8pmDanI¢1, incwred r¢imbur5able expen5e5 tsAailin8 ll.iTr)O. Thi5 amount was red in the year. COMPARATJVES FOR THE sfATEMENTOF FINANCIAL ACTIVITIES Unre5trid¢d fimd tNCOME AND ENDOWMETr¥fs FROM Donaiiow ond leEaeies 50.000 44.007 Total 94,007 EXPENDITURE ON Ch4ri14bl¢ 2Ctivitie5 Antigua & Barbudg Youth Symphony Orchestra B0d lInSkYl SupN>rttosts 6299 5,000 13,032 5,754 Total 30,105 NET INCOt*fE 63,902 RECONCILIATION OF FUNDS T(A81 fimds brought foTh¥ard ,125,197 TOTAL FUNDS CARRtED FORWARD 1.189.099 Page 11 cwtinued...
En¥eknp•lD.' AD92E61KE8W02-9AD2.F17&4011FCOD GAlleon FoulldxtiD Noies to ihe FinAtheiil St*tsmthls-tontinued ForTht Ytar Ended JO April 2025 DEBTORS.. Amourrrs FALLll¥C DiIE THIN ONE YEAR 30.4.25 30.4.24 Prepaymts and acm1 inwme 3.716 6,179 CuRRETr ASSET nyvESTMEm 30.4.25 30.4.24 Money u)V¢51mEnts 150,927 511,47 The charitable comwy holds money maJkel instruments ¢lassifitd as current ts%ei invutsnents, 95 they matwe after thtee iTh)nths but wthin one yearof the rep)rtingdate. These inSents•resthfed wst. CREDITOILS: Amouprfs FALLtNG DUE WITH]N ONE YEAR 30.4.25 30.4.24 Other ¢10T5 Accruds and d2ferrcd income 318 9.649 7,800 9,967 7.997 io. MOVEM IN FUNDS movemenl in funds At 30.4.25 At 1.5.24 UThre5¢rirttd funds CrtneTd fiJThJ 1.189,099 148.1681 1.140.931 TOTAL FUNDS 1,189,099 148,1681 N¢t movtmcnt in fijnds, include4 in the above ate follo5.. Incotning R£souT re50ttt$ ¢xprndEd Mov¢tn¢nt in fu15 Unre5tricttd funds G¢neral fund 44.478 {92.6461 148.1681 TOTAL FUNDS 44,478 {92,6461 141.168) Pagc 12 continuèd...
Eiwohpj ID.. ADV2E61&EE894302.9AD2-F178A011FCOD Gallton Foundlltion Nole$ to the Financial Stitemethts- ¢ontinu¢d ForTh¢ Yellr EndEd JO April 2025 io. MOVEMENT IN FUNDS-tohtlthutd ComwAratives formovtment in fllnd5 Nei movemettt in At 30.4.24 At 15.23 Unrtstrted hnds Gen SJtyJ .125.197 63.902 1.189,099 TOTAL FUNDS 63.902 1,189,099 Comparative ttei movement in fvnd4 iwluded in the aknye are (ollow5.' Incomin resourts Resourees exwded Mov¢m¢nt in fijnds Unrtstri¢t¢d fvnds Gene fvnd 94.007 130,105) 63.902 TOTAL FUNDS 94.007 130.1051 63,902 A curnTht ye3r 12 months and PTioryur 12 months llbined w)5ition is &% follows.. Nei movement fijnds At 30.4.25 At 1.5.23 UnrESiritttd fund$ Geer&I fijnd 1.125.197 15,734 TOTAL FUNDS 1.12S,197 15.734 .140,931 A curreni year 12 months snd prior ye4r 12 months eombined t mov¢m¢DI inGludEd in thE *lx)ve ate as follow5.. Incoming soutts Movem¢nt in fvnds expended Unrtstiicttd funds Gera1 fijrtd l3&485 1121751) 15,734 TOTAL FUNDS 138,485 1122.751) 15,734 Pa8e 13 conithued...
DorJJ51gn En¥eknpèlD'. ID92E61&EEBSD2-9AD2.Fl71AOllFctxI Galleorn Foufidllttibn Notes to the Fininciil Stgittnents- ¢ohti#ttd ForTht Yt*rEDdtd 31 Aprll 2025 RELATED PARTY DISCLOSURES There wcre no rtlated party trsn5aCtions for the year ended 30th April 2025. Las1 year, th¢ ch¥Jit8ble eompany Tergived ¢)105 i0]1$ng £50,000 from relared p8ni¢5. This includes £25.000 from the TA1 A F chaprnw-Dae1 and £25,(M)O from O Daniel 15 a c105e family MemE¢r0fthtTn¢et. Page 14