2024-04-05-accounts

REPORT OV'IIIL'IRusfEES AND tiNAUDrfED FllYANCIAL STATEMENTS FOR THE PERIOD6 DECEMIIER2022 TO 5 APRIL 2024 FOR THE GARL FOiINDATtor4 JH Bury l.iTnit 'I'he L.xch8nge S Ballk Street Bwy Lancashire BL9 ODN

THE GARL Fouf4DATION CONIJLNTS ofi THE FINANCIAL STATEMENrs FOR THE PERIOD 6 DECFMBKLI2022 TO 5 APRIL2024 P4E¢ Reportof the Trnst¢ Independent EiXaMi￿r,5 RepDrt Sttsment of FloAn¢lal ActiTAtit5 Bil#Mee Sheet Note5 to tlie FI￿￿¢181 St#tsm•nts 6 to 11 Detailed Ststem¢rf of f4inan¢il Activitie5 12

THK CARL FOUP4DATION REPOii'I' ofi THE TRusfEES FOR THE PERIOD 6 DCI CEMBER 2022 TO 5 APRIL2024 'Ihe Irustcts present th¢ir Irwrt with the fJnw)ciai siwem¢nt¥ of the charity for the period 6 De¢¢mb¢r 2022 to 5 April 2024. Thc tru8le¢s hav¢ ad?￿d thc provisiims OF Accountitig wd R¢[x)rtil￿ by Charilies.. Ststrtnent of Re¢gmmended PJxciiC¢ applicable to charities waring thcir accounts in accordanc¢ with the fiTwn¢ial liqx>rtiE)8 Standard applicable inthe UK And R¢wbli¢ of ]re1￿Id {FRS 1021 leff￿1ve l January 2019). ORIEcrtVES AND AcrivrriES Objegtlves 8nd films 'I'hc mainaimof th¢ Gharily is to provide 8upwrL viadonatlon and gr￿, to other Chwryti¢s orvolwitary b￿] AClItEVCI METr￿ AND PERFORMANCE ChArltsble #etlvltles Th¢ t￿st ha5 a portfolio of investment5 via an InV￿lM￿)I manager, with investments in following Sectors.. Altemative Inv&91meni MaTk¢¢ Construction & Buildin& FIll￿Gial 8cncral and Real Lstgt Thc chariLy reC¢1v￿ donatioll8 in the period tota]ling £31689 (2022.. £nill gnd made (k>mitions to in811ttrtiOll8 of £958,950 {2022.. £174,5001 Investmen( income of £69210 ranained SiTllilarto thatof £58.947 in 2022. The TrL]StCCS are 8atisficd that all of the charity'% &8ets atr Stat￿ in th6 BtatCm￿￿ of fu￿1¢1￿ p)sition ill accordaTh( with th¢ chariiy's accountiDg rK)li¢ie8. In line wlth good practic¢ the TftL4C( ￿)ntinue to ￿leW and 8m¢rtd ￿liGI¢S to en5urt that the d)aritable objectives continue fr) b¢ m¢L Golmg eoneerm Aftw considcring lh¢ role of th¢ kn]$t withill thc wider comnunity and risk managcmcnl the ￿Ste&8 have Te4sonfjblr xpectstion th￿ the tTr￿l have &dequ&te r¢sou]tYs Lysh thIw8 to meet their g￿t￿ling ￿￿[nit￿t[)ts for thc foiE8eeable futwr. R￿orW¢S poll¢y A5 at the period dale, the try￿L utLTestricthd funds of £3.3m (2022 - £4.3tn) of which £3.Im (2022 - £4.3m) 18 held within ututis&l invcstmeThtfllnd& All iiive5ttn¢nts held c￿) E¢ readily rea]i8al and are thoEfor4 in the opinion of the thvsttt8. in¢lud¢d in the calculotiix) of fre¢ re8¢rv¢s. The ttusL has mSnima] overheads, which primarily relate to clwity complignce Clk4ts, ther¢fort th¢ tsust￿8 are satisficd that suffICi￿1 rescNes are￿VaIlabl¢ to meet with fut￿1% plans. FUTURE PLANS Tb¢ trust will continue to make wis anddonations to appropviaie institutionsas deterni1t￿l by the fout)(kr. STRucrtTrifj GOVERNANCE AND MAPIAGEMENT Governing doeum¢n¢ I'h¢ Ghurily 15 ￿ntrOlled by its8overrrin8 do¢um¢nL ad¢ed of ts7]st Stxi constivjtes an uninwrkX)rntrd ¢h8yity. REFERENCE Af4D ADMllyJsfRATIVR D￿r￿lS Rtglstsred Charfty nTimber 1201243

THE GARL FOUNDATION REPORT ofi THE TRusfEF FOR THE PERIOD fj DECEMBER 2022 TO 5 APRIL 2024 PrinclpAI address 68 Swrlin8 Ro Radcliffe Mwi¢h¢$ier M26 41.N Trustees Cy A R 1.ol￿aK I M Bolton C J Hopkins Independent Ex*mi#tsr DTrl Jjuiy Limited The Fxchgng¢ 5 Bank SIr￿t Bury La￿￿hIre IIL9 1)DN as /1 /flS Approved by onlerofthe boardof tnI8￿1>n..... .......... . and signEd on behalf by: C J HopkiE]S- StL

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TIIE GARL fioUNDATION Jndepcndwrfexminerf5 reportto the trnstees of The GARL FoundAllon I rerort to ch8rity ts'u8lees on my exAmina¢ion of the acd 6 IkccmiKr2022 to 5 April 2024. Respongibllities bg8lB of report As ihe ¢hariiy trustee% of the Trust you are r¢s￿nSible for the prepardtion of the accoullts in ￿rd&llCe with the uitEJnfflts of die Charitie8 2011 Cthe ACVI. I rewrt in rtspect of my exami[￿tIOn of the Trust's accounts c4tti¢d out utmler &￿IOn 145 of th¢ and in cwyying out my rxamin4tion I followed ail appliedble Direclion5 given by the ChariLy Cominissioii under Section 145{5)(b) of theAcL Ittd¢p¢ndÈnt ¢xamiAer'$ $t4ttment I have wtllplcled my eKaminalion. I confjrm that no material matterg hav¢ to my attthti(trts ith COt]nection with th6 examlil￿iom ￿vingin¢ cause to belÈ6ve that in Sny mattyial rC8￿¢t.. accounting records We￿ not kept in respect OfthcTrL￿ as irquircd by Section 130 of theAct' or the accounL8 do not8￿0rd with thosc rer{m￿l. or the acciwnts th not coinply with thc applicAblc requirements ajnceming the attd content of acwunls 8et out in the Charities IA¢¢A)unts and R¢witsl R¢bJulations 2(N)8 other any requirement the acLY)unts give a truc tair view whid) is not amatttt considcrcd &8 p￿ of an I￿￿nd￿nt examination. I have ]]0 conLerns and have come acruss no other nJatteJ3 in eonnedion with th¢ ¢xamin&tion to whi¢h aiienti￿) 8hould drawn in this Irport in order to ￿able aproper und¢r5tanditLgofthe aCCo￿tS to iK ￿ch Ri¢hord Askey FCA DJH Bury Limited The ExCI￿ge 5 Bank Street Bury BL9 QDN Dat¢.. as/1 /JS

THE GARLF01Tr4DATION STATEMC4 OF FINANCJALAcfiviTIES FOR THE PERIOD 6 DECEMBER2022 TO S APRIL 2024 Period &12,22 Period 6.4.22 5.4.24 Unrestricted 5.12.22 Total fmd9 Notes INCOME AND ENDowf4iENtS FROM DO1￿10nS and legaLi¢s 51689 Inv&8tment income 69210 58,947 Totsl 121099 58,947 EXPENDITURE ON Charitable af¢ivitie5 Gcncral gront 958,950 174,500 12,276 2246 Tot*1 971,226 176,746 N¢t gaillsl(lossG8) on investmetts (141769) {886,197) NET INCOMFJ(EXPCINDifuRE) (99UJ96) (L.IX)3.996) RECONCIUATION OF Fuf+iDS Total funds brought foN4rd 4J29J48 5,333,344 T(YrAL FUNDS CARRIED FORWARD JO37352 4,329,348 The nots% forEn part ofthw fJnanoi018tat￿jents

THE GARL FOitNDATION BALANCK SHECIT SAPRIL 2024 2024 Unyutrletsd 2022 Towl nds Notes FIXED ASSETS JDV¢5tmtllts 3.14&940 4,287,580 Ci)RRENf ASSE73 DebtVT8 Cash at bankond in h&nd 8,592 184040 &896 36,112 192fv32 45.008 C.REDITORS Amounts fauing duewithin 0￿year (4,320) (3,240) NLIT CURREWI'ASSM 188J12 41.768 TOTALA&srfs LFSS CURRENr LIABILrriF 3J37142 4,329,348 NEIT ASSETS 3J37,252 4,329J48 FUNDS 3J37,252 4J29,348 TryfAL Fuf4DS 3J37,252 4,329J48 The Twn¢ial staterncnts aprmved by th¢ Board of 'l'TUSic¢s and authoiTsed for i55UC J.R./ .{ /.t24... and we]Y signed on its bd]alfby'. C J Hopkins. Th¢ not&B fO￿part0f th&4e financwl 8tat¢rnents

THEI GARLFOUNDATION NOTES TO THE FINANCIAL sfATEMENTS FOR THE PERIOD 6 DEICEMBER2022 T05 APRIL 21)24 CHARITY INIIORMATION The GARL FoundRtton a ¢haTity regulAted by the d]arity comD]ission since its registration on 6 D¢eemb¢r 2022. ACCOUNTING POLlCtKS Basis of pftp%rlngthe financial statements The fin8ncial slalements of the ch&ity, which 18 8 publi¢ i￿nefIt entity ￿d¢r fRS 102. h&ve Tr￿en prcp8rcd in ac￿rdanCe with the Charitics SORP IFRS 102) 'Accounting Reporting by ChaTitie8'. Stut¢m¥nt of Recommended PractiL% dppliL#bl¢ tts ¢hariiieb pr¢pw'ing their ￿U￿Ls in 8ttor(IwLe wilh fjnanciai Reporting Standard applicablc in the UK and Ilepublic of Irelwid {1IiS 102) (effectivc l January 20191,, FinAncI￿ R¢porting standard 102 'The Fin￿¢1&1 Rcportlng Standard appli¢ablc it) th¢ UK and Republic of Irelolld, and the Clwities Act 2011. The fillancial siatemellls have been Ullder th6 historl(al cost Ltinvenbon, with th¢ exwkion of inv¢Strn￿)t5 wliith are inGluded at markd valu¢. as ThodIfi￿ by thL ￿ValUatiOtI ofctrtain assets. Going erncern At the tiinc of approving thc financial statcJn￿1s, thc Trust￿8 have a rLnsonablc cxpcctation that th6 TTUSt ht&s adequate re￿￿Te￿ lo ci)ntinlle in op￿tional exi8ta)¢e foy the for&vabl¢ fuiur& Thus the Truste￿ contillue to adopt thc BoiTrgconcern by2is of accountil￿ in prep8ringthe fuwicial 8tatem¢llts. Intome All incotne 15 T¢COgnis￿ in the Statement of Fit]anclal Activities once the ch￿lty ha8 entitlcTn¢nt to the thnd¥, It l8 piY)bablethatthe income will be reLeived and the Emo￿t Lan be mewred reliably. Cayh donotii>ns Hr¢ re￿8￿1$ell on rweipL Other Ik)nations are re¢0￿{sed owe th¢ Trllsl has been notifj￿l of the donaiion, unlw ￿ro￿LanCe conditions requi￿ defej'ral of the atnounL Incoille recoverabl¢ in relation to (bn&tion$ rcc¢iv¢d undu. Qiill Aid Ord￿d$ of¢ov¢nw)t 1$ r¢cogois¢d at th¢ tim¢ of th¢ donalion. Lw¢ies are recO￿lSed on Jv¢ipi or oihenvise if the TrusL h&% Ix¢n t￿lifle￿ of1￿ Impendin8 disiributiOD, the ount is knoww aiidreceipt is expected. If￿￿ amoulll is notknown, the legtLy i8 trcated &8 acoAtin8CJJt ￿tt. ExptAdltur¢ Liabilitie5 are r¢Lognised &8 expenditure &8 ￿on as there 18 a legal or consin]ctive obligalion cominilting the ¢hwity ￿ that expEX)dih]r4 it i% ]wolvbl¢ that a tr&TL8fBr of etA)nomi¢ ben¢fit8 will be wuir&l ID s¢tÈlcment and the amount of thc obligation Can bc measuird icliably. Expcndituif 18 &ceountcd for on 8n accrllals basss atKI ha8 been cig85ifi¢d under hea(Ilngs that ail uost r¢lthl to th¢ Lat¢gory. WI￿¢ cosls cannot Ix dlre¢LIy auribuia to P8rticular hl￿1￿£S thcy have Exxn a]locatLd to activities on a b&8is consistenl with the use of oureth. Orants Off¢r￿ 8ubjwl to co[￿IllOnS wliich have not been at the year ￿¥j datc noted a5 a (Y)totnitsn¢nt but not ￿￿ed as ¢xp¢nditurc. Tax#tio Thccharily is exempt th)m tsx on its chwitknle¥tivitie5. Fund accoiinting Unre8lricltd fund$ cffj b¥ u$a in awordon¢e with the choritsble objeaiv¢s &ih¢ dwrtiottof the truste￿. Re8trl¢te(1 fund8 can only iK for parti¢ulw restricted pury)08¢8 wlthin the obj¢¢ts tsf the ¢harity. Re8tri¢tiix)8 ariSeWhen8￿lfied by the donoror when funds 8r¢ raised for particu]8r restri¢ted purrM)ses. Furth￿ explanati(m of the nature puryo8e of eAch fvnd is included inthen(>tes tythe financial statcmcnts. continuo(L..

THE GARL FOtW)ATION NOTFS TOTHE FINANCIAL sfATEMENTS- tontlnuod FOR THE PEI RIOD 6 DKCEMBER2022 TO 5 APIUL2024 ACCOUNTING POLICIL8- eontknued Charithble funds un￿striL¢¢d Ilmds avgiiable fi)r use at the discretio￿ of the Tnfv in further￿￿e of their dJaritabl¢ objectives. Thc tharily only enters snto knic financiJi irn8trwnwts trJnsa¢tions that result in the ￿CognItIOn of fmancial &&8et8 md liabilities like trade and othcr accounts rtceivabl¢ and payabl4 loan8 fn)Jn banks 8nd other third P8rtits and 10t￿8 to rclatcd p8rtie8. FinBllci81 &8sets ihfit arc Mi￿vi￿d Bt and a[nortis￿ c4)8t are as5¢5sed at th¢ eiid of tacli reporting period for obj(¥tsv¢ ¢vid¢thce of impaiill)cnt. If obj(￿tIve evidence of smpaiiThent 1$ fo￿d, an imp8innent loss is reo)gni8ed in theincojne stat¢ment. ScL#ion PBF.34.90 to PBE34.97 of FRS 102 a]Iow8 I>LIL to reLX)gniK concc83ionary loarks at the amount id1receiv￿ wltii 8ub8equent me&8uremellts b¢ing t1￿ carying amount adjust￿ for inkresi receivable or payable. B&qic fuwi¢iai liabilitie8 inltl&EEy mea5uraJ at transaction pri¢x ond 8ub8equcntly mc4surcd at 8rn0rtisExl cost, thetransaciion price less any 8mly￿ts $etLle Cri￿] aeeoutitlng ¢stlmilts ftnd judgements In the yplicatson of the Ch￿Ity'S a¢LX)unting wli¢ie8, th¢ tws¢£es wuired to mak¢ ￿tIMate$ and jiidgcmemts. Thr rslima1¢5 are basd un hi3tOriLal expEriencts and othei. releV￿l facto￿. Ac￿)￿[ results Jnay diff¢rfrom thcsc &stimate The estllna(¢s are ContiM￿lY ¢vulu&wL Revisions to att￿nting estimAt¢% r￿0&nI￿￿ in th¥ ￿1{x{ in which thc ¢3timat¢ 1% TCVi$fd. There ￿ ¢urr¢nily ¥i6TrifiLatit jLKI￿n¢tJts and estimates applied by the tTUStees which ate considered key to thc p￿p￿10￿ of the rmanc1￿ statements. Perlod 6.1122 Pcriod 6.422 424 5.1122 Dividend income PrOp￿ty in¢ome distributions DerA)8ltaccount ini¢resl ItLV¢Stment account intel￿t 52214 12.131 2,171 1694 51,918 6.963 66 69.210 58.947 continued...

THE GARL FoiifffjATION N(YfES TO THE f4lNANCtAL SVATEMENTS. eontlnued FOR THE PEIUOD 6 DEC£IMBER2022 TO 5 APRIL 2024 TRusfEK8' REMUNERATION AND BENCI FITS None of the tw8te¢s weived r¢muncrntion or Ixnefits for the ￿rIOd endcd 5 April 2024 nor for the period endd S D¢cember2022. tkgal Btrviccs arc provided by Butchcr & BaAow LLP, a finn in which onc of the 'fn]stee8 is materialty re￿ in ap9rtiier. Fe&8 for this work wnountedb) £8,688 in th¢ wiod (2022: £nil). For tho Jyyiod fyom 6 April 2023 to 5 April 2024, inve5tmenÉ advisoly, Guqtody and hansa¢tion ftts iotalling £2,667 Iptriod from 6 April 2022 to 5 April 2023.. £2,952) were ¢h8rg¢d by Jamu Sharp & Co LLP, a ill whith one of the Trntyiees is matffialiy inr&sttJJ in apartner. Trustee5 expenses Thue were no tru8le& ￿penSeS paid for the period ettded 5 Awil 2U24 nor for the period ended 5 T)ttuThb¢T 2022. COMPARATIVES FOR THE STATEMENT OFFINANCIALACTIVITIKS fund INCOtll¢ ATr4D ENDOWMEIYTS FROM IE]vestrn¢nt inwm¢ 58.947 EXPENDITURE ON Charit¥bl¢ wctivhles (Jen￿al 174.5(K) oth 2246 176,746 Netgainslllosses) on investsnents (886,IY7) NET INCOMFJIEXPENDITURE) 11,003,996) RECONCILIATION OF rtM)s fw]ds brougiit forward 5,333,344 TOTAL fitiNDS CARRtED FORWARD 4,329,348 continucd..

THE GARL FOUP4DATtON N(rrFS TO THEI FINANCIAL sfATFM]LN13- eontithued FOR THE PEIUOD 6 DECEMBER 2022 TO 5 APRIL2024 FIXED ASSET INVLSTMENIS Listed investmcnts MARKrf VALUE At 6 Decemkr 2022 Disposals Revaiuatiotis 4,287A80 U,IM)IJ55 (137.085) At 5 April 2024 3.148,940 NET BOOKVALUE At 5 April 2024 3,148940 At 5 De£%mE£r2022 4.287580 There wejr no investment a5th out8Kde thc UL Cost orvaJuatiQTL at 5 April 2W24 LS TcpfLxnted by: Ltsted investments V81uation in 2024 833J72 2,315J68 3,148,940 DKvfoiLS: AMouTrfIs FALLING DUE wrfHIN ONCI YEAR 2022 Other debtors 8J92 8,896 continued...

THE GARL FOUNDATION NOTKSTO THL FINANCIAL sfATEMCI N13- coutinuvj FOR THE PERIOD 6 DECEMBER2022 TO S APRIL 2024 CREDITOBS.. AMOUNTS FALLINC DUE WITIUN ONEI YEAR 2024 2022 TRi¥¥)t(Iltors OLhtr cJYdito lJ20 3,0 1320 1,920 4?20 3,240 MOVEMENI. IN FUNDS Net movement iii fimd5 At 6.12.22 At 5.4.24 Umre8¢vl¢twl fund$ Gen¢ral fund 4J29J48 (992,096) 3J37252 4J29J48 (992096) 3J37,252 Netmovetllent in fi)nd$. incl￿ed ill th¢ a￿ve are as followg.. Incoming r¢sourcc8 Rcsources expended Gains and los￿8 Mov&nent in funds UnreJtrKtsd funds G¢n¢rai fund 121099 (971,2261 (142.769) (992,WJ6) TOTAL FUNI)S 121099 1971,2261 {J42,7691 (992,096) Comparntivo% for movement In mov¢m¢nt in fvnds At 5.12.22 At6.4.22 Unre¥hicted fuJhd5 Gcncrnl fund 5,333,344 11,003,996) 4229,348 'IOTAL FUPIDS 5,333.344 11,003,996) 4,329,348 10 continued...

THE CARL FOUNDATION iyurEs TO THE Fll¥ANCIAL STATE1￿Cl Nfs- continued FOR THCI PEIUOD 6 DECEI MBER 2022 TO 5 APRIL2024 MOVEMENT IN FUNDS- tontlllued Comparatiycnct movement in fi]nds, ui¢lllded in the above 88 follow8.. Inwinin8 IlesouTCCS expcnd Gains and 108$¢ Movement ill ￿ndS Ullrestrfcled funds General fund 58,947 {176,746) 1886,197) (I,(K)3.9961 TOTAL FUNDS 58,947 1176.746) 1886,197) (l.Ix)3 L)96) io. REIAIYD PARTY DISCIA)SURES During the period the trust r¢¢¢iV￿ a thnation of £52.689 from G A R Lomax12022.. £llil), a trustee and the rDun(k¥tsf tILe trust. IA. ULTIMATE CONfROLLll¥G PARTY 'rhe charity i8 joindy I￿1rD1]ed by the tr￿stee8.

THE GARLFOUNDATiorq DETAILED STATCI MfiNT OF fllYANCIAL ACIIVITIFS FOR THE PEIRIOD 6 DECEfviBER 2022 TO S APRIL 2024 Period 6.4.22 6.12.22 to 5.4.24 5.12.22 INCOML AiYD ENDOWMENTS DonAtIons And legAclo DonatlOn5 52ffj89 Inve5thient Income DividetKi Incom¢ Propcrty iiicomc distributions Dysitaccount intcre4t Inv¢btment aLrount intcttst 52,214 12,13A 2,171 2ffj94 51,918 6,963 69210 58,947 Totsl In¢omiDg rewureos 121099 38947 ClifiritAble Atmviti Grantsto inSti￿tionS 958950 174500 SuM)ort Costs Bank charges ILM) Gov•rnAne* tosts Accountancy fee Lcgaj fre6 I￿1 twwal f¢¢ Portfolio cha￿5 3,000 8,688 120 368 120 150 12,176 2,1￿ To¢ai ir8ourcc8 ex￿nded 971 J26 176,746 Netexpendlture befotty gmins gnd 1099¢Y (849027) (l L7,799) Roiilsod iinr¢a115ed ttcognlsed galns losse5 lieaLised g(lin￿(lO$s¢s) on disposal ofinv¢xth)¢nt unitali%￿ galns1(lo&￿) on markct value movement (5,684) {20,593) {137.085) (865,604) Net expeiiditlire 1992,0961 I1,￿3,996) This Page docs not fomi pBrtof thc stahxtory financiaj 8tatcmLxJts 12