Charity registration number 1200282 (England and Walesl GRUMPY GIVERS CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 GRUMPY GIVERS CIO LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M J Whillles Mrs S A Whillles rMDFreer Mrs P L Freer Charlty number 1200282 Company nuTnber CE030161 Princlpal address Middle B$ar 57 High Street Slandon Hertfordshire SG11 1LA Independent examiner Sean Hudson ACA Henlons Slag House Old London Road Hertford Hertfordshire SG13 7LA GRUMPY GIVERS CIO CONTENTS Page Trustees, report Independent examiner's report Slalement of financlal activities Balance sheet Notes lo the financial slalements 6-12 GRUMPY GIVERS CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Iruslees present their annual report and financial slalemenls for the year ended 31 December 2024. The Iinancial slalemenls have been prepared in accordance with the accounting policies sel out in note 1 to the financial slalemenls and comply with the ¢harily's conslilLJtion dated 5th September 2022. the Charities Act 2011 ancl Accounting and Reporting by Charities." Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" {effective 1 January 20191. Oblectlves and actlvltles The Trustees have had regard lo the guidance issued by the Charity Commission on public benefit. The principle objects of the charily are lo enhance public benefit through grants and donations for charitable purposes. The Charity's website can be found al htlps'.Ilgrurnpygivers.org.uk Achievements and performance Significant aclivities and achievements against objectives The charity made donations lo various inslilulions lolalling £185,200 during the period. The trustees are pleased lo have made contributions through donations lo community organisalions during the period. The Iruslees look forward lo making further contributions to charitable causes in the future as they see fil. Financlal review The results for the period are sel out in the Statement of Financial Activities on page 4 and the surplus on ordinary activities of £635,737 will b& transferred lo a¢cLJmulaled reserves. The principle funding sources of the charity are the donations received from Iruslees and the return on investments made by the charity. Inveslmènls are selected by the charity carefully and monitored in temis of financial performance and ethical implications at Trustee meetings regularfy throughout the year. Res8Nes poI￿Y The trustees will seek lo build sustainable unreslri¢led reserves lo a level sufficient to provide financial stsbilily and meet any exceptional expenditure. Risk m&nagem8nl The Trustees monitor the financial position ol the Charity regularfy al each Trustees meeting. The Trustees are satisfied that the expc>sure lo any major risks are miligaled. Structure, governance and management The Charity is a Charitable Incorporated Organisalion (Company number CE0301611, having solely charitable objectives, and registered as a charity (number 12002821. Grumpy Givers was registered with the Charity Commission on 5 September 2022. The governing document is ils ¢onslilulion, agreed by the prospective Iruslees dated 5 September 2022. The Iruslees who served during the year and up lo the date of signature of the financial slalemenls were.. Mr M J Vvhillles Mrs S A Whillle8 Mr M D Freer Mrs P L Freer GRUMPY GIVERS CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 RecruiTment and appointment of Im8te&s New Iruslees are given adequate training in respect of their legal obligations under charity law. in particular in relation lo the Charity Commisslon Guidance on PubSic Benefi'l. the charity conslilulion and the trustees decision rnaking piocesses. The trustees, report was approved by the Board of Tru51eès. MrMJ Trustee hittles Date.. L3 GRUMPY GIVERS CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRUMPY GIVERS CIO I report to th& trustees on my examination of the financial slalemenls of Grumpy Givers CIO Ilhe charity) for the year ended 31 December 2024. Responslbllltles and basls of report As the Iruslees of the charity you are responsible for the preparation of the financial slalemenls in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charily's financial slalemenls carried out under section 145 of the Charities Act 2011. In carrying c>ul my examination I have followed the Directions given by the Charity Commission under section 145151{bl of the Charities Act 2011. Independent examlnerfs statement Since the charity's gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a member ol the Inslilule of Chartered Accounlanls in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm Ihal no mallers have come lo my allenlion in ¢onneclion with the examination giving me cause lo believe that in any material respect". accounting records were not kepl1n respect of the charity as required by secllon 130 of the Charities Act 2011. the financial slalemenls do not accord with those records.. or the financial slalemenls do not comply with the applicable requirements Con￿rning the form and content of financial slalemenls sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair wew, which is not a matter considered as part ol an independent examination. I have no concerns and have come across no other mallers in connection with the examination lo which allenlion should be drawn in this report in order ID enable a proper understanding of the financial slalemenls lo be reached. Sean Hudson ACA Hentons stag House Old London Road Hertford Hertfordshire SG137LA Dale.. GRUMPY GIVERS CIO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted fund5 2024 Unrestrlcted funds 2023 Notes Income from.. Donations and legacies Investments 571,379 14,559 243,930 3,800 ToLIl Income 585,938 247.730 Expenditure on: Charitable activities 188,422 14,440 Total expenditure 188,422 14.440 Net gainslllossesl on investments 11 238,221 153.080 Net Income and movement in funds 635,737 386.370 Reconclllatlon of funds: Fund balan¢es al 1 January 2024 386,370 Fund balances at 31 December 2024 1,022,107 386,370 The statement of financial activities Includes all gains and losses recognised in the year. All income and expenditure erive from continuing aclivilies. GRUMPY GIVERS CIO BALANCE SHEET AS A T 31 DECEIVIBER 2024 2024 2023 Notes Flxed assets Investments 848,197 375,760 Current assets Cash al bank and in hand 175,410 12,050 Credllors: amounts falling due within one year 14 11,5001 11,4401 Nèt ¢urr&nt assets 173,910 10,610 Total assets less current IlabllEtles 1,022,107 386,37CI The funds of the charity Unreslricled funds 15 1.022.107 386,370 1,022,107 386.370 The financial statements were approved by the Iruslees on IS L()Lr Mr M J Whill Trustee GRUMPY GIVERS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information Grumpy Givers CIO is a public benelrt enlily in the form of a charitable incorporated organisalion ICIOI. 1.1 Accounting convention The financial slalemenls have been prepared in accordance with the chaiily's conslilulion dated 5th September 2022 , the Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Iieland. I'FRS 102.1 and the Charities SORP "A¢counling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" leffeclive 1 January 20191. The charity is a Publi¢ Benefit Entity as defined by FRS 102. The ¢harity has tak&n advantage of the provlsions in the SORP for charities not lo prepare a Statement of Cash Flows. The financial slalemenls are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Going concern At the lime of approving the financial slalemenls, the Iruslees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for Ihe foreseeable fu1u￿. Thus the Iru51ees continue lo adopt the going concern basis of accounting in pieparing the financial statements. 1.3 Charitable funds Unrestricted funds are available lor use at the discretion of the trustees in furtherance of their Charitable objectives. 1.4 Income Income is recognised when the charity is legally entitled lo it after any performance conditions have been mel, the amounts Can be measured reliably, and it is probable that income wll be received. Cash donations are recognised on receipt. Other donations are recognised once the charlly has been notified of the donation, unless performance conditions require deferial of the amount. Income tax rewverable in relation lo donations received under GiftAid or deeds of covenant is recognised al the lime of the donation. 1.5 Expendlture Expendilure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit to a third party, it is probable that a transfei of economic benefits wll be required in selllemenl. 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 dir￿1 cost5 and shared costs, including support costs involved in undertaking each aclivily. The charity is not registered for VAT. expenditure, where applicable includes irrecoverable VAT. 1.6 Flxed asset Investments Fixed asset investments are initially measLJred at transaction price excluding transaction costs, and are subsequently measured al fair value al each reporting dale. Changes in fair value are reco9nised in net incc>mellexpendilurel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and ¢ash equivalents include cash in hand, deposits held 81 call with banks, other short-lemi liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. GRUMPY GIVERS CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies (Continuedl Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cosl using the effecbve interest method unless the arrangement conslilute5 a financing IransacliDn, where the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one yeai are not amorlised. Baslc financial Ilabilities Basic financial liabilities, including creditors and bank loan5 are initially recognised al transaction price unless the arrangement Conslilules a financing Iransaclion, where the debt instrument is measured at the piesent value of the future payments dis¢ounled al a market rale ol interest. Financial liabilities classified as payabl& within one year are not amortised. Debt instruments are SLJbsequenlly carried al amortised cost. using the effective interest rale method. Trade creditor8 are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are Classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilili&s. Trade creditors are recogni5ed initially al tmnsaclion price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financlal liabilitie5 Financial liabilities are derecognlsed when the charily's conlraclual obligations expire or are discharged or cancelled. Critical accountlng estimates and judgements In the application of the charity's accounting policies. the trustees are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sour¢es. The estimates and associated assumptions are based on historical experience and other factors that are ¢onsidered to be relevant. Actual results may differ from these eslimales. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future peTiods. Income from donations and legacie5 Unrestricted funds 2024 Unrestrlcted funds 2023 Donations and gifts 571,379 243,930 GRUMPY GIVERS CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from investm&nts Unrestrlcted Unrestricted fund5 funds 2024 2023 Income from listed investments Interest receivable 11,209 3,350 3.800 14,559 3,800 Exp8nditure on charltable activities Unrestricted Unrestricted funds funds 2024 2023 Direct costs Grant funding of activities (see note 61 185,200 13,000 Share of support and governancg Costs Isee note 71 Governance 3,222 1,440 188,422 14,440 Analysls by fund Unreslri¢led funds 188,422 14,440 GRUMPY GIVERS CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Unrestricted Unrestricted funds funds 2024 2023 Grants to inslilulions.. Ernbercombe The Mud1arks Community Essex & Herts Air Ambulance Trust Royal Mencap So¢iely Safer Places PCC for the EC Slandon Church DS Achieve Scollish Wildlife Machrihanish National Youth Orchestra Royal National Lifeboat Institution Salvation Army Isabel Hospice Medair Fulurehope Mercy Ships Mede¢ins Sans Fronlieres 10,000 1.000 1.000 1.000 5.000 15,000 5,000 10.000 200 15,000 25,000 50,000 10,000 10,000 5,000 10.000 25.000 185,200 13,000 Support Costs allocated to actlvltles 2024 2023 Governance costs 3,222 1,440 Analysad between: Unrestricted funds 3,222 1.440 Net movement In funds 2024 2023 The nel movement in funds is slated after chargingllcredilingl.. Fees payable for the independent examination of the ¢harily's financial slalemenls 1,500 1.440 Trustees None of the Iruslees lor any persons connected with them) received any remuneration or tjenefits from the charity during the year. GRUMPY GIVERS CIO NOTES TO THE FINANCIAL STATEWIENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number The employees are the Iruslees of the charity and recewed no remuneration for their serwces. There were no employees whose annual remuneration was more than £60,000. 11 Galns and losses on Investments Unrestrlcted Unrestrlcted funds funds 2024 2023 Gainslllosses} arising on.. Revaluation of investrnenls Sale of investments 175,483 62,738 153.080 238,221 153,080 12 Taxation The charity is exempl from taxation on ils activities because all its income is applied for charitable purposes. 13 Flxed asset investment5 Listed investments Cash in portfollo Total Cost or valuation Al 1 January 2024 Additions Valuation ¢hanges Net movement on cash accounts Disposals 371.960 636.167 175,483 3,800 375,760 636,167 175,483 32,734 1371,9601 32.734 1371,9601 Al 31 December 2024 811,650 36,534 848,184 Carrylng amount Al 31 December 2024 811,650 36,534 848,184 At 31 December 2023 371.960 3,800 375,760 10- GRUMPY GIVERS CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 13 Flxed asset investments Icontinvedl 2024 2023 Investments at fair value comprise.. Equities Cash held by investment managers 811,650 36.534 371,960 3,800 848.184 375,760 14 Creditors: amounts falling due wlthln one year 2024 2023 Accruals and deferred income 1.500 1,440 1S Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not SLJbjecl lo specific conditions by donors and grantors as to how they may be used. At 1 January 2024 Incoming resources Resources expended Gains and losses At31 December 2024 General funds 386,370 585,938 1188,4221 238.221 1,022,107 Previous period: Ats September 2022 Incomlng resourc8s Resources expended Galns and losses At31 December 2023 General funds 247,730 114.440) 153.080 386,370 GRUMPY GIVERS CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Related party transactlons Transactlons with related partles During the year the charity entered into the following transactions with related partl8S'. Donations recelved 2024 2023 Trustees 571,379 243,930 571.379 243,930 12