Charity number: 1202820
THE A & J GLOSSOP FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
| Trustees | Clare E L Taylor,Chair |
|---|---|
| Katharine F A Boardman | |
| Andrew J Boardman | |
| Graeme P Taylor | |
| Charity registered number 1202820 Principal office 1 St. Stephens Gardens Twickenham TW1 2LT Independent examiner Rachel Heath FCCA DChA BHP LLP Albert Works Sidney Street Sheffield S1 4RG Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment manager BRI Wealth Management Plc Elm Court Meriden Business Park Meriden Coventry CV5 9RL |
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and 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
a. Policies and objectives
The Foundation’s objects are to hold the capital and income of the Trust Fund upon trust to apply the income, and all such part or parts of the capital, at such times and in such manner to, or for the benefit of, such exclusively charitable objects and purposes in any part of the UK as the Trustees may in their discretion think fit.
The Foundation is a grant making charity, it does not itself raise funds, conduct activities or employ staff.
The Trustees have complied with their duty to have due regard to the Public Benefit guidance issued by the Charity Commission for England and Wales in deciding what activities the charity should undertake.
b. Grant making policy
The Trustees have agreed that their funding priorities will be to make grants to charities established for:
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a) The advancement of health through the provision of mental health services, with a particular focus on charitable organisations supporting children and young people;
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b) The relief of those in need with a particular focus on tacking poverty and disadvantage where it affects children and young people; and
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c) The advancement of education with a particular focus on supporting the education, training and opportunities of girls and young women and other disadvantaged groups including offenders.
By supporting charitable initiatives within these areas, the Trustees aim to foster a healthy society that gives care and provides opportunities to those in particular need. The Trustees will not support grants towards individuals or noncharitable organisations. The Trustees may occasionally award grants that fall outside the priorities stated in this policy, provided that they are satisfied that the grant will further the Objects and is an appropriate use of the Foundation's funds.
The Trustees will not seek to solicit applications for awards. Instead, the Trustees will, after careful research, consider the organisations to which the Foundation will make grants and the amount and timing of such grants at the formal meetings of the Trustees throughout the year. Grant making decisions will not usually be considered in between formal Trustee meetings, except in exceptional circumstances, at the discretion of the Trustees.
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance
a. Main achievements of the charity
In the period from 1 April 2024 to 31 March 2025 the Trustees continued discussions about appropriate charities to which to make grants. However, recognising the importance of such donations, the Trustees considered that they need to conduct further research before making decisions and therefore agreed, in accordance with the provisions of the Trust Deed, not to make any grants or donations during this period.
Financial review
a. Financial Review
The results for the year are shown on page 6. The Trustees consider the results for the period to be satisfactory.
The principal funding source for the period was income from the investment account managed by BRI Wealth Management on behalf of the Foundation. The Settlors also made further gifts by way of stock transfers to the Foundation during this financial year.
No grants or donations were made in the current period. Total expenditure for the period was £6,676 (2024: £4,340) leaving net assets as at 31 March 2025 of £424,212 (2024: £249,748).
The Trustees have decided that holding reserves is unnecessary as going forward the intention is to only distribute income as donations or grants to the maximum available in any given year. Undistributed funds at the year end will be rolled over and held to be applied in furtherance of the Foundation's charitable objectives in a future year.
Structure, governance and management
a. Constitution
The Foundation was established under a trust deed dated 23 August 2022 and is a registered charity, number 1202820.
b. Methods of appointment or election of Trustees
The current Trustees are those named in the trust deed. The trust deed provides that a trustee may be appointed or discharged by a resolution of a meeting of the Trustees, provided that a memorandum declaring such appointment or discharge shall be signed as a deed, either at the meeting by the person presiding or in some other manner directed by the meeting and attested by two other persons present at the meeting. A new trustee or new trustees may be appointed at any time (either by way of replacement or addition), but so that the total number of Trustees shall at no time exceed four.
The Trustees who served during the year and up to the date of signature of the financial statements were: Clare E L Taylor Graeme P Taylor Katharine F A Boardman Andrew J Boardman
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Plans for future periods
The Trustees are confident that they will be in a position to start making donations and grants in the 2025/26 financial year in line with the grant making policy (as summarised above) as the Trustees see fit.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Signer ID: 1YYZIP5TBO...
Clare E L Taylor (Chair of Trustees) Date: 27/11/2025 GMT
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Independent examiner's report to the Trustees of The A & J Glossop Foundation ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2025.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable 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 that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts 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 accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 an Independent examiner's 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 or for this report.
Signed:
Dated: 28/11/2025 GMT
Signer ID: WKOLTHN6RI...
Rachel Heath FCCA DChA
BHP LLP Albert Works Sidney Street Sheffield S1 4RG
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
| Note Income from: Donations and legacies 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income before net gains on investments Net gains on investments 10 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 158,336 14,406 172,742 3,465 3,211 6,676 166,066 8,398 174,464 249,748 174,464 424,212 |
Total funds 2025 £ 158,336 14,406 172,742 3,465 3,211 6,676 166,066 8,398 174,464 249,748 174,464 424,212 |
Total funds 2024 £ 238,318 2,897 |
|---|---|---|---|
| 241,215 | |||
| 1,295 3,045 |
|||
| 4,340 | |||
| 236,875 12,873 |
|||
| 249,748 | |||
| - 249,748 |
|||
| 249,748 |
The Statement of financial activities includes all gains and losses recognised in the year.
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2025
| Note Fixed assets Investments 10 Current assets Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds 12 Total funds |
41,026 41,026 (4,027) |
2025 £ 387,213 387,213 36,999 424,212 424,212 424,212 424,212 |
4,982 4,982 (3,543) |
2024 £ 248,309 |
|---|---|---|---|---|
| 248,309 1,439 |
||||
| 249,748 | ||||
| 249,748 | ||||
| 249,748 | ||||
| 249,748 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Signer ID: 1YYZIP5TBO... Clare E L Taylor (Chair of Trustees) Date: 27/11/2025 GMT
The notes on pages 8 to 15 form part of these financial statements.
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1. General information
The A & J Glossop Foundation is an unincorporated charity registered in England and Wales.
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) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The A & J Glossop Foundation 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.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
2.2 Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising the financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
2.3 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.
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.4 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 support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 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.
2.6 Taxation
The charity is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charity for UK income tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 s521 – s537 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.7 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.
2.8 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.
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.9 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.
2.10 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.
2.11 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.
Investment income, gains and losses are allocated to the appropriate fund.
3. Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
4. Income from donations and legacies
| Donations Donations Donated investments HMRC Gift Aid Total 2024 Investment income Dividends received Bank interest received Total 2024 |
Unrestricted funds 2025 £ - 133,309 25,027 158,336 238,318 Unrestricted funds 2025 £ 14,348 58 14,406 2,897 |
Total funds 2025 £ - 133,309 25,027 158,336 238,318 Total funds 2025 £ 14,348 58 14,406 2,897 |
Total funds 2024 £ 100,020 138,298 - |
|---|---|---|---|
| 238,318 | |||
| Total funds 2024 £ 2,890 7 |
|||
| 2,897 | |||
5. Investment income
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
6. Investment management costs
| Investment management fees Total 2024 |
Unrestricted funds 2025 £ 3,465 1,295 |
Total funds 2025 £ 3,465 1,295 |
Total funds 2024 £ 1,295 |
|---|---|---|---|
7. Analysis of expenditure on charitable activities
Summary by fund type
| Bank charges Independent examiner's fees Total 2024 Bank charges Independent examiner's fees Total 2024 |
Unrestricted funds 2025 £ 55 3,156 3,211 3,045 Support costs 2025 £ 55 3,156 3,211 3,045 |
Total 2025 £ 55 3,156 3,211 3,045 Total funds 2025 £ 55 3,156 3,211 3,045 |
Total 2024 £ 45 3,000 |
|---|---|---|---|
| 3,045 | |||
| Total funds 2024 £ 45 3,000 |
|||
| 3,045 | |||
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
8. Independent examiner's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the independent | ||
| examination of the charity's annual accounts | 2,625 | 2,500 |
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
10. Fixed asset investments
| Listed investments |
Total 2025 |
Total 2024 |
|
|---|---|---|---|
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 April 2024 | 243,197 | 243,197 | - |
| Additions | 245,456 | 245,456 | 360,517 |
| Disposals | (111,041) | (111,041) | (130,193) |
| Revaluations | 8,398 | 8,398 | 12,873 |
| At 31 March 2025 | 386,010 | 386,010 | 243,197 |
| Investment cash | 1,203 | 1,203 | 5,112 |
| At 31 March 2025 | 387,213 | 387,213 | 248,309 |
| Historical cost | 321,450 | 321,450 | 226,518 |
| Creditors: Amounts falling due within one year Accruals |
2025 £ 4,027 |
2024 £ 3,543 |
11. Creditors: Amounts falling due within one year
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12. Statement of funds
| Statement of funds | |||||
|---|---|---|---|---|---|
| Statement of funds - current year Unrestricted funds General funds Statement of funds - prior year Unrestricted funds General funds |
Balance at 1 April 2024 £ 249,748 |
Income £ 172,742 Income £ 241,215 |
Expenditure £ (6,676) Expenditure £ (4,340) |
Gains/ (Losses) £ 8,398 Gains/ (Losses) £ 12,873 |
Balance at 31 March 2025 £ 424,212 |
| Balance at 31 March 2024 £ 249,748 |
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 |
Unrestricted funds 2025 £ 387,213 41,026 (4,027) 424,212 |
Total funds 2025 £ 387,213 41,026 (4,027) |
|---|---|---|
| 424,212 |
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329
THE A & J GLOSSOP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 248,309 4,982 (3,543) 249,748 |
Total funds 2024 £ 248,309 4,982 (3,543) 249,748 |
|---|---|---|
14. Related party transactions
The parents of two trustees, C Taylor and K Boardman, have donated £nil in cash (2024: £100,000) to the charity, and donated £133,309 (2024: £138,298) of listed securities during the year.
A trustee, C Taylor, has donated £nil (2024: £20) to the charity during the year.
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Document ID: 1248ddc90b5754ae9f9f6bbdbcdbaa0228099b6c47b812c3b23220d8d0c26329