Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D Charity R•glstsatlon No.. 2DS177 R•gulatorof Soclal Hou8lng R¢gl$tratlon No: A0215 THE GLCAICESTER CHARMES TRUST ANNUAL REPORT AND FINAIKIAL STATEhEKrs FOR THE YEAR ENDED 30 SEPTEMBER %122
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARrriES TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 sEPTEAER 2022 CONTENTS INFOWMON AND ADVISORS REPORT OF ThE TRUSTEES INDEPENDENT AUOITORS. REPORT TO THE MEMBERS 14 STATEMENT OF COMPREHENSIVE INCOME 17 STATEMENT OF FINANCIAL posrrioN 18 STATEMENT OF CHANGES IN RESERVES 19 CASH FLOWSTATEMEKr 20 NOTES TO THE FINANCIAL sTATEMEPs 22
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES TRUST INFORMATION AND ADVISORS FOR THE YEAR ENDEO 30 SEPTEMBER 2022 Rggl8tered Office and Prlnctpal Plxe ol B11) Montpelltèr House montp6l1r Gbucester GLI ILF Banke N8VIVest Bank klc 21 E8$tgat¢ Str6Bt GIowA8ter GL11NH Sdlcltors Tayntons LLP Clgrènc& Chambars 8-12 Clarence Strèèt Gloucester GL1 1DZ Lodders solitOrs LLP Gl•nsanda House 1 Mclrtp1r Parade. Cheltenham GL60 1UA Audltor HaJewoods LLP [or HoLW9 Bayshill Road Choltenharn GL60 3Ar investment Managors Inv8s180 Wèal¢h & Inv8stsn¢nt 2 Gresharn Stre8t London EC2V 7QP BrIn Dolph Limrkd Tre Lyplatts Lan8down Fioad Chelt•nham GL50 2JA Reulsterod charlty Nurnbgr 205177 R•gulator olsoelal Houskng R•glstrallon Numb A0215
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENteD 30 SEFfEM8ER 2022 TRUSTEES. REPORT Th& Trust8&s pr8s8nt thair annu rwt arKI Ihè S[1 statnts for yaar end1 30 Saptbar 20. Alrn¥ and 014KVv Th8 m8 ofth& Charity 8f•: Provlslon ofqudity shettsred at an airDre c(st Extra care facilths lor fral AIm3U8e resiyenls Administer. effedively, Relel in Need bra oftre Chity The teneficialS are dder pecyb In in the nty of GIrr$Ire. The tficiary sekdion pdlcy 18 in aCcoan¢6 with th& provtstons ofTh8 M8, is thè g0wm1 dLKtKn8nt oftha Trnst Tha Trust also 8aparAtety thlnistérs thè fomiw Gbutxtor Dithd NursiNJ Charlty was unltéd wtth the Trust in 2008}. Thè 8im8 of GIrStar Dlstrkt NursiryJ Charity arè.. Thp olief of perEorE in n99d r88Kl8rit in th9 grga of who are (y)n¥8l¥wnC dabld. or infinr by relVi thèlr suffaring or a$si8tirJ Ir recol The reliefol nurses vkn are In n1 arKI arè resldenl In the wea of benef¢ and The relièf of any nurs&8 Iwhts ar8 In 8KI who fom)èrty am0 by tha Gkm1stèr Dlstrf Nursing So(xety In excépbon81 ea80S th8 Trust8es may gr8nt refBf to W50rk% 01her% s11g vtho 8r& r89idènÉ OLrtsid8 thè $8 8rg3 but in the opinlon of the Trustees ought nevertheless tor sufvont reaw tr) lJp8ted as if re3i(nttherein orwho are IcKated tor the lime being that a. Our Stratgglc Alm¥ To growand blea l&aJing 6lratsg aTrJ liflnal Sir0, we, and SUPFQrtservices wovthrfordder ¢Jp To op8f8ie and further deveh)p 8ptiO Akn18hcA off8rir@ ad(5ts'on81 care SL4)tKWt to maintain kndependent livirrfJ, To en5uro hlgh quafrty in tial nutsirKJ s[¥&11$j in (thonl'o., end of Wle., and p&lliativ8 re To expand our dnba day ewe sa($ n wh mgthèt d8mand to supp)rt ling Indopeethtty 88 w915 as our own ¥esiderrt8 To 5UPPOrt our local ccffimit1es through RefEI in Ne1 grant gmng To our own Intemd strangthg WKI "19 tts in¢xease our IM &nsurfwJ our organLSa0nal 3¢1[8 ¢an delwor our strategic plan To pursue our othor otpct¥es ¥thiistmthtsinkng and tynptoving th8 finanU rity of th• Trust
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022 R8f•r•n¢è and Athilnl8frntlv• Inlomiatlon Princi Office.. Up to 16 January 2023. prinwl office was Cenbjry Hou3e, 100 London Ro&J, Gk)uc4ster GL13PL. 16 Ja)ugry 2023, the pdncWI office is Mtyttpekr H(, Montpdliw. Gk)ucoSter GL1 ILF. Mr S Ayland Mrs A Conder lappolnted 17 sept[ 2021) Mr Matln C1n3 Ichglr) Dr l Donald Mr T L Halnes Mrs C Hathf Mr Stsve H8ath Ivice Chairl Mr L Hensley Mr G Howall MrG LThbri¢ Mr G IreskJned 25 March 20221 Drj Lugg MTS J matt lrespjd 20 May 20221 Ms D Mth"n IArs G Payn9 Miss P Tra rMrta Mrcyts The day to day runrung ofthe TrLL8t affairs 15 manw by the Chief Exe£yJtive, m Kathryn Lvts. HeWorK18 LLP prowides wdtt 8er¥Kes and related adVe to Ihe Trustee& Tayntons Sc41dtors L(NJ(kts so{rt( FthKle W servhs arJ relaied to the Trus16e Natwest Ba[ Pb proth thanckl services to th8 Tte&s. Invgstgc & IrBStrnent provi in4wtsDenl servi(w toth& Trustaes. Breknln Dolphh kyovldo inve8kngllt SeTr1 to ts Tnlee$ fDrth& G1(yjr Dtstrlct NurswwJ Charfty funds. CustcMYian Trustee-The Offiaal Custodkin Mecathays LLP ad aa LarKI Ats fDrth8Tfttst structur•. Gov•man¢• and Manag•mont The Charity is an unincorporated Charity {regi8tration number 20517TI vAlh an unincorFxNated body of Tru8te8s. The governiNJ d0cWnt of IhE Charity Is The me datj 4 Ap1 1997 as amended by Scheme dated 16 Dècembar 1997 and dated 30 2001 with the Charity CthimissMJn. The Charity Is reglstered charty, an mShouse charity, and a Retered ProM(r IRPI. The Charity rgJister&J with th8 ReguL4tor Ofs Hou Carè Q(Sty C(xnmlssKffi (CQC> and L8 a m9nknrofAknSllh) Assoaalon. The body ofTruste8s, when c£)mp, ccrfBists of 18 Trustees ofwhith niro arg rlad Trustse8 and ninè c optob've Trustees. T1 LxHytstNg TrustEos are irMfi¥wJuals throLwJh reshjence. ots)JpaliDn. or employment or rt881 th$ City of OuCester have a spe¢K91t orintorest in thÈ woth t>flh¥ Ch8nty. Ofth& nominatad Twstees S should be appointed by the cj1 of the Cty of GIOUter and by the Ccwnrnittg& of the Freemen of the City of Glou(wt8r. The Trust ha5 a Trustee ReLwtsllent and Se1n Policy and a Separate TfU8t88 Induthon Pdioywhith are reviewed evgrylwo y8a. 8T8 prowd8d with an infornation pad( w)on jolning the Trust whKh contains most rnt aLhJited finanual statements, the latest management account information. minut&s ofthè mostracant Gan•ra a short historyof Trus( th& Trust Schames, and a copy of CharilBs cornm15sn bo¢A(let CC3- The Essgnti81 Trustsg you Led to kn1, and a list of tt ygarfs forthcoming maèlngs. In additi"on, they are also Lssued any pole$ with whKth IM need to compty. thè Codè ol Govamanea arKI th8 Terms of Referartè oflha varf(MJs sub-cixnmilte89. TTU8tees can b& by existiThJ TnJste8s rf they ve the relevant sk115. knrhvledge and bad(ground that anatA& tham to m8èt an exi¥liry skils g3P (*) th8 BOS of Trust
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARITIES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2W£2 During 202112022 The Board ofTrustees met to cary ¢xrt Ihe trJJsine85 ofth& Chwrty. Due to the lifong ol covKJ.19 rathdtons. most of our Boanl meetings wer• face to f. Gcfs Board has sevefal sub- ¢(Knmitt98s. Governawk and Risk Magernent (fon Audit GoVgman), and Pp8[ty Iwhl has acbpted thè ALhJti responbilit$ ass¢)cd Trmth ALKlit & Governance Committee) and WeWare (staff and ResidentslwhiL comwse ofTruslees with a 5wiali5t or thll in a parftxJl8dy 1PVant areA. These committsos meetapproximatsty 44tirnes peryear aTrJ ta(e foTrYar¢l rnmendatiCM5 tothe main meetings ofthe fijll Trustee Board. Emiloyeeg oflhe Chaiity rept0 the man Board ofTrustees at the brnonlY meetings or through a rnonthly infomi3lKfft pad( may rr rnelkn for the con$Kler&tion arvj approval oy all Truste8& The day toéay ofth8 Trust is deated tothe Chief Exeojbve syJort&l by a Sl0r MaroJement Team. Trust afso operates an Pthsory Committee consts of the Chair, VKe Chair one other Trust88 to which th& Clu'ef ExeLlJtN9 i¥n r8fer ¥hO a dOn to L made urgenty. Tr6 Trusle&s 8r6 requSred uThJer ch811ty kgislabon aTrl Homes England lo rmepwe fnanc4al siatements that give a tNe and fair vivw ol the tharrty's Ferk)nDar during arnl at er ofth9 ffinarv41 ygar. Publle 8gn¢fit The Tmsfs makn chari18tle m is lo provfvk good qLMIty. affordable accommc4JatJon for objer peOe from the County of Cknucester3hw8 lo weel the variety of neerf3 vthh thi8 dignt group prp8ents. The Tru3t and rnanages 137 sheltered housing flats at lour hxations %Mthin Gh)ur8st8r. both Guild House Residential Home and Magdan Hausg Nur54ng a5 wdl a5 Ihe lQnbrDse Cbjb. Tr Trust thefore operates a cirde of care vthich 8UPPOrts 1ndNu813 Imng independenljy right thwh to tFkJ8è r8qulm9 Nursing eAr8. Ihè attammixlation and care proled by the lkn and Homes is open to the oxnmunty of Gk)t¥X5tershire subject to meeling thg Tru5¢5 admission critaria. In ldibon. ts Trust also offers a tsjicaled day care facitsty, The brOSe Club. The Club is opan to okter paople {r8sklÈrrb arml Mrr#s1dntsI InlIlti dèm8nO4 mwnory1038 or d&prèsS(C and 8nxlaty. The Chjb is intandad to acec¥nmcxJate those vtho liw irtyThJenty and have no person care requir&ments. It is Ihmty, brant pLg(x ¥th8r8 ffi6ndshW ar8 m8de, gOj •atw) aTrJ wh8rath8re Is th& opp0rbmY to di$Ver nfyw things to ¢k). Due to ts impa¢A of co-19. Ihe CAub was 4rnost restsrtgd fr¢yll 8(x8tth 85 379 of our members had moved into residentkal care and some Te slll fear1 ol rJ)ntrading covh>19. The above meets the public benefit criteria aThl falls Ylllhin Ihe Ch8riti89 AGt 20[ ¢haii1gblo purposo defined Ès 'relief of those in need by rsasons of yryjlh. a. ilkheath, disabillty. fironcial hardshy or other dlsadvantsg8'. PJI Tntssfs Charitab 8GUvfib"es fo on thredy inproWr the lives ofolder people by provJiw a rarKJe ofhousing care optiorts. The Trusf s Rdi?f in Need athibes also deady rneetthe public bgrofitGIiteria and aTP avai19 to n0nknre&dts, of any age, t4e(I to the requirements ofthe gove In th& rtheranc8 of these aims the Board. a8 tho Charrty Ttyt. ho complwd with tho in $.4 of tha Charit16s Aci 2006 tD have (bjg rEgArd to Charsty Ccmmission's publis general and relevant SuSeCtor guan cMimiw opwakn oftht pubk requiromsnt undor th81 A The TnJst awardwj gr8nts to tr8 yyO of £59.089 to inthvkjuak in the y6ar the ReQf Naed and Glwcesler District Nur&ng Charity schemes. There has boen a steatty n1¥nr of spplirAtions duriry the year whlth is stiii indicab'vè ofthe very difficult rCuMstan so many iThJIduals have found themsdve6 in. We Iwve cont'nued lo floW a svAftér grant approv81 was 8pprovl by tha Boaftl and s•t up in 2020 to értsum ara abla to provbde irnmedlate support wherever poss*)b8.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLcAESTER CHARMES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEITrER 2022 Rovlow ofachlevoments and Irf0Mne• for1ho year 11 must be Tted th dug to the Impact of the corcmirus pandn we 8tiU h8d to eonb.nw to make to the way in which we cLJnduded our (venOnal athl1 In the year. there wer8 nungrous drffitultias to Ovgrccffle and some of our planned prO1ts had to te pl8¢xd hold e3kw¥aly %•th8t8 Ihey invdved either of thg regulatJ 80rviw. We hav9 fwtyj new ways of to d881 wth th8 ong01r rA)rrlanJS &tuaticffi and hav8 baèn innovative and A9ble in ourapprg8ches but have had to locL)wn our Home5 on 39ver I81$ due to hawng 2 or more st&ff J resldents test posit'V8 fOrc0d. ThL8 has pVant£d Lkq from 8chi&virvJ anything like ftjl oocupancy 8 we have not able to qcLYpt new KIents when we have trn c105ed. Thè raqulr6m8nt for all staff to be vaccinated did Th)t impact on ug too giealy ra(can9 the h)ss of ow existuu staff, IN)wer it dld impact on our &blllty to recrult new stsff and we have h1 a vary y6ar [rlI1n9 and retainiTrJ staff. We have become an A¢CrlIted Lwing W90$ émployerWhth telVe demo our mitm& to paying our staff a tsir rgts of pay forthe work they do for v8. It 18 falr to say Ihat thL8 year has been aTh)thervery (allWId ¢)np, and * are gralefijl and apFwative to our core of dedicated staff who have wtsr1(l hard thrtyJgh)ui to 8rtswe our residents have bg8n well loced after and support&J. W8 havo had a suc¢e3slul reuuitmenl over past months and now hsve vory few staff wdcanciès. W8 arè detemilnod to er relain gryjd 8tsff PAYI mindlul of nwj for us to m8lntain staff wgllbeing. harl had yat more sionfftant thanges to our man8yer1 te•n8 during thè year wth the re5pJnabon of ona Registered Manager, a Deputy Manager and our He of Operakns ComplianL8. In addition, our Finan Manager abo moved on to a rw role. Thrd r95ultgd li sc¥ne tharwJes witNn our exitir@ rllan4smèntt•am where itKliwduals have laken on addkthonal re¥r61b11Tbes to 8nsure businèss continuity. haye now ru[ted 8 nèw Registered Manager and t>eputy Man4er lor our Nursiro Hre and hav8 a part timè Ffinance Manager in post Ihe Head of Operats'ons and Ccmpli8llLX has teen spli and tsvo of tearn ha¥8 intin responsibilty for 1hesg wltal area5. Itemg brwht fr>rward from 20120- progr•M i•port S8cur8 planning pwmlssion to devdop H(MJse site tKJild an enhaEd sheltered houying 8chem9-OutWTh8'. Plannlng pem)i8sion on this devek)wentwas eV9ntual secured In December2021. Tha Trust is rv)w lookiro to sel thg Site a d6velowl wrtvrrity. The Trust ¢ontlnue¥ to look for a buyer. I Cieate an additiongl flat at St Marks by m&Wng use of an urKler-uUlsed kJur@9 and kitchan. Outrme.. Thb has b88n plated on hokl du• trj othgr proJg¢ts bgln9 priorfti50d. Creot& a C(MpL¥ary cpen Fjan hwYdeldirtg I krt rocffl at St Marks in Ihe dmigtslrs communal aTea. Outcome: Thls has bgen plac•d on h)Id to th• rnasons Ilsted In 2 ab. Planned 2020r2021- progre•8 Mport In adcfition to our exten8ive prraMMO of plann1 a1 Preventat malntsn8n and cydkAI maintenance, wg managed to complete I progress th8 folowing e4MW èxp wc#ks in 2tr20r2021'. 8 flat Extension bh)d( to Brunswick Road- Plannlng pemib$ioD had to bè ag It oxplred In th• y8ar. Permlsslon was grantsd In JAnuary 2023 for 8 x 1 bgdYo¢)m ftats and 1 x 3 bgdroom ma150nott•. Tho Trust 411 now Conslderhow Imtto move fonvard wllh thls prol•cL contin our programme of refvthlKn8nt and wgrJing of 8Jl axcmmcJation- ongolng.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARrriES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022 P•rforniance Revlew have, ag aKvays. strNed to ensurewe haVeFwvJedtr hvJlwtstsn(latholcaTP and swrtfor¢)ur reshjents ith an emphasts on thelr ovor811 wdlLw"NJ. Unbrknt•, Ihe Trust had more vacant flats and lower In our shékrèd at(a0n during the year Ihan preY}JSty 6xp6rbnwl. which wa8 largely attributed k) our focus being required dsthere. namdy, to (YJMP1P our nwor proj to change The Yoth into what has ber¥0 No76, our superb coff86 ho. meant a d81ay in out works In flats wulrfng refurtiishnent During the year th6 Trust 81so purej$&d m¢tprT HO for ib Hewj Offi. The pre¥u8 buSldSng was longèrlarge enough to meetourrwls. MontpelEr H(rfJse, ¥thich had been unoccupied frJrsever81 yeaJ3. Twuired Complet refijrbishment so that it would work èffioènty and 8if8cW lor . The extsnsive prq'ect was mpted in January 2023, arhy moved into our superbly app)inted tsfficag on 17th January. A large part of thg refvrbishment was (wned in Jus8 ourabdtty to c4ryy out sorne pLqnned works in at&as. We experced syJnifMxy h¥Jr th8n bihS¥te¢J vcids w) our NUIng kbTh, Magdden HOLW and Tri our RasKlenl& Home, Guild House whh was mainly due to on-off dOsu and not bwry abb to lrnit resldents at numerous kn"m&s throughout thè yéar. Thèrè wag also a cA)n3(aou5 decision madè to en$ staff resour$ were not b8lng unduly stratehÈd 1]$1 wruitment Vds uThlery. Magdalen Hou5B was sthll abl6 to otler occaslonal respite care when it was safa to do so. thr locxts lor th8 rwt yaar F6 to improve our re8i¢nt o¢caJpanGy rate in both hc#n8s. The promooon ofthe arda ol care offar6d by the TrUste{MrAS to t a keYleaTe ofour sem. We are athys locd(ing at ways In vthlch to ld morg irrto (Hjr c8 of Care and the (x)Mption of our Soci enterws& prciect at The York, now knovm a3 No.7e, has enhan it I. VI havè had hug8ty posltive rèsponsès to the op8nlng 01 tha cofte shcp, hava a Stsy strèam of regldar 1xteTr, many of Wh{ live localty in supported houslng or wuk In NHS. ajrrenlty Mornlay to Frtday 7.30am to 4.3(w. We are delighted to WO wlh lo¢al ¥UPFAierB and make every effort to sustainaxlty and owgr8èn uèdèntLg1s. We were very appreck4thvp of hjrther Grants vthKh r8¢ewJ from GIJ[ShIr8 County Councl., lh& havè helped us $upport our 8tsfft¢am. enha re8idgnl ar frddlllate safe vlsib for relalves. R80ruitmenl and retenlion ha been eXpSIY (thfkU Thi Guikl Hcwe and Magdalen House during the year,. hover, wa hava managed to maintain 8 COT8 Slaff team. Regrettabty. we hava, had to rely upon the shJntft¢ant Ugé of Agéncy staff to maintain safe staffing18vel& As aPèiays. th& slaff team hav8 (k>n9 a wonderful lob in rAri for and meeting the needs ofour rèsidents aThJ membèrs w8 8r8 eXtremY appreck8l.ve oflh8 d8dKatw am cc#nmibMent th&y cKJnt'nuè to g& undw thè m(t diffithtt of rirgJnstaKes. As previousty mentioned. we have 8hown our cornmitment to them by beccrfning an Aelled Wag8 8mptyÈr. Our most rètrsnt stxff suN8y indkales that the Tnjsts efforts to 8ft8r staff havè bè8n well rewyed. The Magdabn House Team have SU$slY ccmplJ tho Gokj Stan(18r(l Franéwork tr8lning kjr 8nd-of4f8 car8. an achi8vament 011Cl) wa ar8 èxt{ pro1. IAÈ are uilising ai the learning gained lo date to ensure we offor tho vary bost stsThJards Ofed441fe care. We have made use of tho 0s¥x)rtunrtiWh8re ttwe ha¥e been va1 roCS at Guild House and MèJdalen Hovs lo reftJth'3h them to indude rW floorrvJ. LED IghtiTrJ uJyJrlas and rgd8(x)rabon stt tFw ready to be occupied when a resldentMshe8 to movè i). Cktr Kimbroae Club has had a dt[fiCltY8artr#). mnr$h numlx5 Wgre restrktslto fffts9n formuth oflhe yr and the conlnued to Wgar ma3k8 t)rov&Y to be w clMkngiThJ ¥then cc#Miunicating with mernber¥ Iwe eMlia. Hrye¥er, the staff team ha c(ped admir8bfy atKI, d&spitè us having to start the Club again from scratch. the memtersh¥J has t11 w) and our excelknl reputation means regular referrals to tha seTr1. We have not progres1 our progranmm of brj 8•varerws olthg TrvBI pdir9 GCT as there have been other far gattrr priotiti8s naÈdir¥J to 8thr8S88d W8 have nIinUed to develop tnyove upon the raroe of qualitalivg arL(I quantilat've infoMati prov*Jed to ourTrustees to in ttp goVgrngr and to provkle t1 assurances that lh8 Trust is klpl rnanag8d.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARITIES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022 In financAal tern the Trust ha3 not had a sucwstul ye8rin (pdèralIlèm ofth8 otha] aCi'veS. Alklitionaly, rfOrMan of its investrnents has been sigiwfKanty power than in tha pre05 y8ar. The Twsl wll be rwlewing ts)v8strnént man&Ml servths in 21x23 a1 every effortwll be Inle to imwova L)o>Jpanw and revenue 3trewn& We have 1xxp1tIèd o(Fr Valu& for (VFMI metrics for knctsj$k in th8 ao>Junt8 as we arg r¥w rB4ulred to do and ther8 ar8 no n1m8 notsl. 11 Is Ihè intèntion of tha Trust tr) conunue to rg%rfaw Ihe use Chvnwship of its nor0)10 8¥sots m In& with our strategic plan and we trk1 angther fvl Board Ststegy Day in Jun8 2022 whlch was exlremely useful and hèlpd us focus on the prioiitses lor the next 12 months and trey¢nl. On8 of rnain docisfions to come oul of the day W&5 the dadslon to sdl Mlll Farm, one of our nowore assets to rthas8 fvnds forop8rxtional proj8eis service dgveloprnenl. A considerable OUnt of th wll 89t fr)r tha refuth"shment and wgrade ol both Gulld House and MagdaleTh House. have an extensi 3wimary of txoied and propwty d&v6lopment plans will be PTh)riVsed thrgthe year. The Trustcondu¢ted several key miews through1 tsyearlnC1rQ the SiK4nonthly raviow of its Risk Summary aNJ th? tra¥Par&.g ath.on plan5 to mrtwe risks wi certam areas. The Strategic Plan has bs6n W•d aThJ fvjrther Lydated pArtiLadY (xjnsidèring tha aVts of yèar. Tho Heaj ol Operations arKI ts com18n ManwJer are wort(ing th Ihe operational Managers to do71 InoRvkJu81 bJsiress plans lor nexl 12 months whlch align with ts o¥ef8rething GCT plarL In temis ol rts non4yHe a33ets, the TnEt has Continwl tr) (JseLv w(th our Land Awt lo marfKet and 8dl Mill Fam) In lots. Thi8 has been a successfvl xtNity aTrJ all the k)ts are 8okl arnl (X)vtts exthanged. The overall efferl of the sale rn88n8 we wll gerterak 8woxknately £3 milllon for GCT to use for the continuwJ (kn91ownont of our core 8aryKe6 a( an anountto 8et asKle forthe luttwg. Futyre Plans We are Iniendlro to th) the foll0vng this year. in &Jdibon to sc¥ng of thg Th)t Ab to Fwgress previously.. We plan to ftrthgr dg¥elop. imF4emenl. arKI ern1d our ini118tfves for staff to syjort ourwDrk on luthardevdorrfng a poslbve wowace (Jjliure. Therg will be further work tarried out tts ensurè OUT quafty and audrt sy3tems are effeclwe and proviiyo assuran to the Board of TNstees that the manwent ofthtr organtsation is being competendy and 8ffid&nY (rri8d (yjt th an upda sulk of managnt infcrfmalion tools. Wg havg fvrther refineil the suste of information provKkd to the Boarf so that it nSISts of essential qualitative and qualltitslwo infomiath)n forthwn to meet their govwnaThx obfyats)ns gffgctiv81y. aw plannlYJ a major rewew aThJ fevBion of our IM Audit systthrOugh(Art th& canisation. will IR irnplemenl'ng the (arvJg5 Trqtirwj in OUT slaff tr8hyirKJ Fryrammes to ensure they enabb us to equip staff with the rceSsary sknlls and kno%jg9 to m8èt our rèsidants eare and support needs. 11 Carry out fijrther work d8veloping aThJ wnplwnenrO detslgd bwln05s k4ans for ead) of our areas ol OperatiL whi¢ alnytti overaH strateglo plans of the Trust. We wll comklete phas&l refvrbishmentwogrammes forGuikl House, Hcmjso and ourshgltered e(nm(Kl8llon to Impmw trn 8ThJ ensure they Bre ftrture proof&Y. Creation of a be¥)oke IT pbn to ThprDve thg gffiwntry and effective[5 ol GCTS intemal and èxtamal systems Wo wll c(*Klud 8 fvrther r6vl8w of no9 assèts to eroure tw are ftjlty ubli5ed to bontrfft GCT'S core adwiliè8. A QuinqueThMal Irtspecuon of our li8kd tr11r B planned in April 21r23. th8 recommèndat olwhich ill b8 Ix)nsidér8d by the Boarf. MarfiebTrJ and PR adivikn'es incTra8ed lo prcrnoteGCTin orrjwto Wnprts ras#Jentlm&mt£r5hip numtws Wa wll our grant gmng scheme a vi8W to ertsuring it is moTg aLf85ble to thLtse who meet the tsrfa and 11 derive bfit from IL GCT is currenly revie%g its g0Vemar structrjre,. bg dts8fy scnjtlnlsod on th8 Stralegy Day In 2023
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022 Rl¥k$ The Trustees havo conSKb1 the firrdrKial and cwational to whkh th& Is 6xposad and have introdtyxd FKJlries and managgment $lmdur88 to mrfpaatg them. Thg bg&St rBk to U5 is maintaining occupantry coupkd vjfith thètso Cap C¢xnpIan ra]uKement ofthe Care Act2014 whith is du6to b8 implèmantad in Ort(tsT 2023. Our finanogl wnrDIs designed to minwnise tho rk of fra1 or other k>$ and are rggulath r8Wed Bnd updated. TheTni8thas appropriate iwurdrKrA)verwJeforthg tiV5 in whN ills invdved. The TnJsYs reseNes poliey allow5 the Trust to continue operatiTrJ for several y&ars with a IlIj if Trugtaès dscldè this i4 warr8nled. This 1$ partrularty the cas8 in the cr68tion of s6rvk%s wll tskg se¥eral years to break even. Risk management is be1 kn all areas of the Tru5fs Owdtiorts as a key aotivty that is to be continually rwgwed 8ThJ a83gS8ed. Th¢ Trust has ¥ dgtsi18d Key Risk Reg¥ster which is regulady Lydgted by th8 CEO arKI managemènt tèam in junction with Ihe relevant sUtCOMmittee and re1d by Ihe G0vemae and Risk Manag&rnenl Comrnittee Iformerfy known as Audit 8nd (knvemancel on a stX-rnthty baS as well as ty each didUs1 commtttèè whèr8 they review the risks speaficaly assocLd 7hlth thg remf( ofthal wnmrttee. InY¢$lmgnt ptsll¢y and objectlvos The inv6strnent picY prow¢Je3 for a broad4Jased portfofio of toth thancial and propety Investmwts to provido kKomeforthè Rdf-1rl-NÈ8d branches, and securrty tsfendokn Thls is parbcularfy &Van1when Truslge8 are looking al the potenty'al costofthe maicK devel)pmenl pToje¢tsbvhh they ha comissoned. The importanca of keèping thè at 8 la¥el which is suffio'enttCfvnd the tubjre upkeep and developnent tsf Trust pr(yerties eontinves to be a major cOderatIon for Th[5. Tr Tnwt to rnaxYnHe thg Incrxne on knporarily inves{ Testricted fvnds. Th8 Chaiity CornMiSS¥)n Sthwne dabj 4 1997 emptrértrs th& Trust66S to m8kg $Lh arrangemts Js th think fil for any irrlMents of the Chty to bè I1 try 8 CnfF¥xÈts tx>dy wthich is inwrated in England aTrJ Wales as the Trustees, nomin6&. Clear investsnerrt dire(on is provKled to the Investrn8trt Manag8 at the 8nnu8J m88lnu.' ho¥&r, th8 Trustees have not fdt it nectssary or appropriate to gve specik nstructions regardiTrJ the exient that socAal. environmenw. or athical c(m$1(ratis are laken into )yJn( in relation to th8 r&ann Ènd raalls8tion of nvfj3trnents. T1 ts Invgknt man&JwrtOptrJnS durirKJ 2017 dad mt to mak8 any ch8ThJas al that tkng. The Inv98brenl mgl are to t rovIey In 2023. R•8•rves pollcy Under Ihe Houslng SORP 2014 desJnated frJThls are Th) knlIted and must r8VOrt to nomial untrIcted re8eryes. The unrestrithd resefves of th• Trust Ihareth kndLKI8 Iho$8 deSWtj as eittier Cyclic Maintsnanc Fund ICMFI or ExlraL*thn8ry Ryir Fund {ERF) reser& The TrusteeB ate satisfied thatthe r&serves arg c(Thrllensurate the of operatK)ns. Mosllhe Trusfs fixed assets are ld trftharin wr hwsing orVe$1ment propertss therefore the level ofres8rv8s is comm8nsur8t& with the contingency required to $uffj the ongoing busi of TrusL DetalL¥ of Ihe18V818 01 r&servgs 8t the yearend. and th&pc4ic4es attxhed to rg59TVe. can bg in rN)las 14 to16 ofthese finanrjal statets. Key ValfOr Money Motr1¢8 In April 2018 the Rewktor of Sc¥ial HDW"rKJ hos intr0j a of 8mall regist1 sodal IKJusing landonls to Indje their Vdug formow (VFMI ffletrirA their ann ffinaal statemenls. Bdow a the seven ffielS the Tnjst Fgufg8 aro in PTr#s Sterfing.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES Trusf RepoRT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEIIBER 2022 Motrlc 1- Relnve•tmenl % matn'c look8 at tre intrnen in properties as a Ferrent ofthe Val oflhe total properties hehy (fHP- Total HousiThJ Proporti&sl. Tn8 r8inwstsnènl athbes devdoKKn6nt andlor wutIon of prop&rb&s and malor m8ininan¢È works ¢8rri&1 (xrt in ¢xJr exisUNJ prLwUÉs (1.8. ¢1 h83b.ng upgWl, w kitchèns and bathroom8 instsllabow etc). 2021122 2020121 Developm8nt Of New Pwp&tle8 (THP) Newty bulld aU[red NP} INork8 to Fjisting (tHPI 85.237 384,11D Dmded by: Housry Properttes at ba 2,635.642 2.625.755 Outcomo 16% Motrlc 2- Naw Supply D•llvw•d % New metric sets out the ter of Sla1 and rlal housi units that have been aUired or d&vd0j ln Iha yaar as a oftotal soaal hcyJsiYJ unlis non-soclal houslng units own6d 8130 Septfjrnber2022. 2021122 2020121 so1 HO Unib Totsl HouwrKJ Uryts Develrwl or Nvty Built Units uired lTrYear Diwded by TO Soc4al Hwsing Unils lino Shared Ownershi OutCOrnO 137 137 0% b. Non-sotial Housing UThts Totsl Non-SrA>al Uni15 tleveloped or Builiunits Acqulred In-year ((X}. (fotsl noLOI rBntsl housi units own6d. non-s81 18888hold unit8 0%s1tt1, rw outr sale units develo edora Divid8d by Total and NOrsoda1 Housing Untts Ovmed (Period Endl. ITotsl 8wial housing units o%b71. tol31 rvJ social t9nt4 Ikw8itvJ unrts owred. Social leas9h0 unts owned non40cial tho1k1 owned ènd Outcome 0%
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTE11 2022 Mgtrlc 3- Gearfw % Thls Me a58es¥es Iv of the a88èts ar8 madé up of dèbt aml th& dagroa ol deFeThJence on debt finance. 2021r22 2020121 Total ol: Short.Temi LoS 4.037 LonT8m Loans 374.848 379,147 Less Cash aThJ Cash Ewivalents 11.331,8101 11.579.509) Dlvldod ty: Housing Propgrties at nei vabje 2.635,$42 2.625.755 Out¢om• M•trle 4- Earnlnga Befor• Int•r¢si Ta& Am¢tl8#tlon. Iuor Indudad IEBrrDA MRI) Interest Covar % Th8 EBITDA MRI interest cover m9asur8 is a key ThSeAltir Ikiuldty 8tKI Intran1 fxpgity. It seeks to measure the ol sUlUS that a registered promder generates txxnpared to intw8st payabbè. 2021122 2020124 OF*rnttng Suwus 94,243 293.749 Less G8in l Oossl on dIspu offfixed 8ss6ts IhousirYJ Le88 Amortised GoverryDenl gwl Plus Interest receivable Les8 Capitalised major Kyrs expendrture for Plus Total depreaation charge for period (85,235} 176.170 1384,1191 147,803 Dlvldod by.. Intere9t crtse Plus Interest paYae aTrJ cos 42,735 42.73S Outcomo 433% 134% 10-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARITIES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022 Metrfc 5- Headllne Soclal Hou81rvJ Cost P•r Unlt 20xr22 2020121 Total tsf: Managemont Costs 150.201 72.911 Seice Chargè Costs 622.710 554,564 Routin8 maint8n0• Costs 38,255 P9nn MwnknarKe Costs lo9,5 113,491 Bad Detr 670 3,201 DeprecAtion of hs3 prOrt$ 176.170 147,803 Othèr Sw'¥1 HOuj Costs 6,214 Dlvldgd by: Total Social HousirvJ Units (hThJ arKI Manyd attt Pariod End 137 137 Outcomg 137 6.836 M&trle 6- Operathig maTn % Th8 Owalng margtn d8morstrats5 ts pr0fftthty of as88ts hefGf8 exceptio1 gnseS ar6 ¢sIdered. The Assodation's eratIng margin sh)ws that ts organ4atbJn uses its resouw •ffi(y9nty. Thg $o¢lal houslng lettings 0xc1j9$ the housing grant amortIsatic. 2021122 2020121 Sockal Houwro Leth'ngs 24% b. Ovewll 3% 11
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEAIBER 2022 M•trfc 7- Return on Capllal Employ•d (ROCE) % Thks metric ccrfnpares the operating surFlus to totsl ass¢ts18¥s ¢urrgnt fj*)libo8 arKI is a c<¥nm¢n moaswo In the commeraal s•clor to assèss thè affi(iÈnt nV8stsn8nt of ¢aW rescMJrc8s. Th8 ROCE metric WOU supprit rpgptwgd prowders a wide range olcatyal it)¥EsbKenl wogramm. 2021122 2020R1 0rati Surplu3 I (Defili IK Gainl (Lossl on L1SF$ of Fixed Ats (Hjslng Propwti•s1 94,243 293,749 Dlvkled by: Totd Assèts lès8 CuryBnt LtHblibgS 23.289,548 23,809,250 Ouieom• Comm•rttsry W8 ar• o)nscAous of our 0bllg8tt0 to wovkJ8 fv)r money in the 8ervKes we provide. a8 denld metrfcs in(aLxled In the financaal ststwnents. The rnetri above aro apphcable to the hknshoLtse actimies ol arity, and th8refor8 th8 inlorrnation prowrIed relates soldy to th6 Almshouth5 wh8re rel6vanL Thp AMshO alUSt ong part, alTt a Very inwrtanl or, ofthe overall care actiwties ofthe charity. Unlike m05t pmMd8r8 ofsocial housing, the charity de$ most of its InctsnÈ from acbwties. As 8 resul it is difficuh to benchmalk the metrics as U)E acbths ofth8 th¥riiy grp tiVelY uniq. The tnjstgos do, howevgr, ConsKIert metrics to be Tthin tsir 04wtab.oro otKI show a very posth oullook for the Aknshou89 a¢tivib68 and the chwty as awh¢Y 12-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARIIIES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022 8TATEMEprf OF TRUSTEES, RESPONSIBLITIES Registored s41 Housin9 Legislation and the Ch8rttlBS Ad 1993 require the Twstees to prepare financial statements for each finan yèar which gisp a and fair Wi of the stats of th8 Charfty's affalrs and of its Incume aNJ expeThJrtuTr for p&ritxl. In preparing those ffinandal statements. th6 Tnjsteès aro wuITpd to... Select witabkg accoundThJ pclkSè$ 8rKI them o)stenty. m8kèjeMents aTrJ esUmakn that are reas&1& prLKknt Stats vth0r appIabl9 UK a¢rUnrg Stala the Statemènt of Recommen Practice have Lwn follod. 8ubied to any material departures rkdo$1 gy4)ld in lh8 finarrial 3tatements. ppare tha fillancial 3tatsrnenl8 cfi th& gng ccfflc8m baslg unkn tt (g In4ipfDprth to preswTr8 that the Charity will (Xjnbnue in business. Tho Trusteas rospSib for keeFrfro aczlxmdro records rtsdLW with reason) a¢[aCY al any ttma th8 financaal posibon of the Chanty and to enabb to eUre that the financial statements compty wth the Stheme oflhe Charity Commissiongrs dated 4 Arrril 1997 by which the char was consttht&l, Serfon I to the Housing Act 2006. Ragulation 4 oflhe Charits Ac(turts allyj Reports Regulon5 1995, thg Ststsrnenl ol RèMmandéd Pra¢bco - Accounting by Regislered Landlords a1 the Aco)untry Requirements for Rggistered Social Lar10rdS Gen&r81 D&tamin8tion 26. Try are aLso SPonsible for takirrfJ reasfx)ablp stsp to safeguard th8 ass6ts ofthe clty and lo wevent and thkctfraL otrw illegul8nlig9. AutOrS H8lewoods a8 1]10[5 duiing the year. Approvod and authorfgod for188u• by thg Tru81808 on...22..(J3...aa%3 Mr Martln Colllns- Chal ve Heath- Vlce Chalrnian 13-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHAEs TrUST NANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEPIBER 2022 INDEPENDENT AUDITOR8. REPC%IT TO THE MEMBERS Oplnlon W8 have aud(tod the finwal ststemants Of GI0$ter Chari(igs TnJstfortr yearendgl 30 septhr 2022 which cornpdse the StatTrt ofFinarrial A¢b¥itieg. thè BaL8n SW the Cash Ftow Statement and Ihe rdated notes. Tho financwl repotting fr8mthvort( thal has appled in their prewauon is applicabl8 law 8nd Unlted lfjngdorn Accounting Standardl, irt11r$ FAnd8[ RewAtng StaThYard 102 The Fin8ncAal Repoiknw Standard applic0& in the UK and Republic of IrelaThY Iurdted Ganarajly Accepted Awounting PtHd"cel. Oplnlon on financlal statement8 In our Cyron the finanrAal statnants". gNe a tNe and fair wew ol Ihg ststs ot d)artVs affaws a5 al 30 s8PteMr 2022 and of its inrnming resources and application ol resources. inrknling rb income and eXpeThy[re. forth$ yèar than endod., Practi., 8nd have been prep in yart6 with the r8quirnmnts of the Charibe5 Act 2011. the Housing and Reg8n9ratK)n Act 2008 aThJ Actourtiro Prfv8ta ROgtered Provbjers of Socpl Housing 2019. Ba819 foroplnlon We conducted our aL¥Jil in acCordae vthh Intemational Slandards Aj[ting IUIQ IISAS (UK)) and appkabl6 law. Our responsbTI b88 undèr standards aré thjtIh descnbed in the Auditorfs responsibillbes for the audTt olthe f n¥nt¥d StaentS section of r rem indepaiKIGnt ol the charity in accord8n(x 1 thè ethlcal requirem that ar8 rèlèvant to ow audrt of the ffinancial staeNts in Ihè UK, inthding the FRC'8 Elhi¢g1 Standard, and have fulfilléd our othor 8thi¢%l r&sP)nblIties in arJ))rthn¢xvAth these rg]uirements. We believo that the audit evh1èn we have Obtned 13 arKI 8r4xcw to provwje a ba¥1¥ for Durtylnlon. Concluslons rglJtlng to golng eoneèm Wè h8V8 nothlng to in re$lt otthe rnattw¥ in rela th8 ISA5 (UK) wulro us to report to yoj where: the bstee$. use of lh8 golng Con1 ba8iB of8C(X)ng in the pYep&aOon of the th8181 statemènts 18 not 8pprW8tè'. or the trust ho not disdod In the finam¥al 8taterrwts any 8n11 rnatsrlal urrrtainli95 Ihgt may sts•Jnitsntdttubt aboutthè thantys 8bilty tOcn11Ue to thptthe goiw cx)ncam basis ofaccounlin9 for a pe of at hvelv8rrKJnlh5 frvrn th8 dat•Wh the financial 51ateTneJts aTg aUthons&l forlssue. Oth•r Infommtlijn The tN3tee5 are r85ponstlè frjrthè ott*r infomiation. The other infDm8tioneomprises the infomi8lKJn Indud•d in the Report ofthe Trustees. otrrthan the finanaal $t8tsmènts ouraudrtorfs reportth9w)n. Ow oplnk)n on the fina81 statanènts dog9 not (x)vw tha othw 1nf0miatJn arnl, exiwt bj oxtent Oth¥1s8 eyplKity ststad in ¢yJr reFM)rt. we do t expre&8 any tr)mi trfassuranc• cthduwon thereon. 14-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOIKESTER CHARMES TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 INDEPENDENT AuDoR8. REPORT TO THE IAEMBERS In a)nnecon 1th our audi( of financ 8l•trnts, our is to r8gd the other information aKI. in doing so, considèr ththèthÈr th8 other infcrfrnation ss mateTialty TnconsBtent wth thg finanaal statements or our knowl108 obtai1 in the alIt or Oth}se OPFears to te materialiv misstsled. If wè iLntify guth m81orial Inconsistenoes or apparnl matorial misstalèmènts, wè 8rè wuir8d to d&18m1r whether ther8 18 a material mlsstatèmgnt In fina?a1 ststemenls or a material misstatement of Ihe other informth"on. If, based on wo we have rfrned, conthdg thatthere is a maiwi&l mtsstatènt ofltrds 0th8r ithm18ti.' wuirÈd tr> report thatfact We have r1)thij to report In this regard Oplnlon on othèr mattern prBB¢rlbed th• CharfU•¥ Act 2011 In our opinion basgj on tha WO Undtaken in of the infomiatKJn given in the Report olthe TrleeS forthe financial pericd forknlth th8 fin8ndal statsrnents are preparnd is c¥)nsi%tentvAth ts finanual statemants. thè Rewrt olthe Truslees has been pyepargy Èn aFfJlkablg kg8J wulr•m6nts. Matt•rs on Ththlch ar• r•qulr•d tr• report IYJ extWon In the Ilghl of r knovAedge and uThJ8fStandlrJ of th8 tharfty and Ms onrorn8nl (thlnal In th8 ¢ur58 of Ihg audi¢ ha not klentir m8teri81 rllisststnwts in tho Repo¥t ofthe TNstees. We have Tr)thiro to report kn raspectof IM ftlbxiNJ m8Uèrs whara tha Chafib8$ Act 2011 rpquires to roport to you rf. in OLW oplnkn-. quate accounting records have r¥)tbean keptorrebjms akn4uats forouraudit ha¥ notbaan Vad from brah&S not ¥isii8d by u8.. or e finandal statemenls are in ¥Jreent accounb"rYJ rnct)rds a1 r6bJm8.' or we not wc¥Ned all ofthe frXrnaknn WKI 9xw8rtsOns we require for ow •Jdit. RPe re8ponslAlltl•s of Truste As èxplaiwl more tulty in the Trustees, RespowbthiEs Slatemerrt setouton Foge 13, the Trustses arg re¥p)nsilAe for the preparalion of finartial statèmants aThJ k Lw"ng satsfi8d th they giVO a twe and fair vi, and for such interTh control as thè dir8ctors d8termin8 ts85ary to en& th8 r*epar8.0D offfinanaal statsmenis that arè frèè frtyn material rnisstaternenL whether due to traud orermr. In prepariNJ tha ftnanual ststhents. the $tseS are resFM)nstt)le fvjr assessing the char5Vs ablltyto cononue as a going COnm, di8cbsing, as ap[lable, matters rdaled to ¢onc£rn and using the goivJ conoèm basis of accounting unless the dlr8ctors •ither InId to IKiuhJat6 th& thaiity to t• 4J8r8tions, or have no realBIic altematwe but to dts so. 15-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLCXJCESTER CHARrriES TRUST FINANCLIL STATEMETrifs FOR THE YEAR ENDED 30 SEPTEMBER 2022 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS AudltoV rnsponslblilles lor the audl of the flnanclal statwvents rd)jeciNes are to cl)tsin reable assurarts #bWhfhth8 finarrial slAtaMts8S awhole free from Mate1 lS5tln&t whBth8r duè to frAj or error, and to r3sue an a1[105 rerxirt that indude8 our opiraL Reasonable assurance v6 a high level of 8ssurxneA. lyjt is rnt 8 guar8ntaè that an Conducted in accordance with ISAS IUKI 1[ always deteGt a maienal mbSStatThnt exi8ts. Misslaternents can ariga fraj Or orr(K a1 arèe0nsldÈd rnatarialil, indUal or in the aggate, tkey coukl reasonabty bg exwded to influgnc the economic decisrts of users taken the basB of finanu81 staièments. A furthèr d•scriplon of our rosponsibilitias for thè aLMXrt of thè slatements is located C the Financ1 Reporting Council's websit0 81 wy.fr¢.org.uk1auditolSre$P)n5Ib1IFtses. des¢¥iptiL)n torn p8rt of (Mjr 8(0¢S raport Extort to thl¢h the audltwJs ¢onld•rnd eapat40 of d•trellng kn•guFarfll••, Includkng fraud lo the limitatv)ns olan thar8 15 9m unaw)Kld)te iiskthatmaierialmmtatements the ffinaal 8tatements may not te deterted, even lh¢A thg 8wlil w propaty pl8nn8d aml p8rfomd in wrdance ¥h the ISA'S IUKI. In idantiTra a1 8888gs#w Asks of Makn1 mis4tsiemenl in resFeL of tra, indudin5 irreguLqrili9s and l- Mlance Yth lawB rJulatiN. our prOlr•S the foHcwing.' (A)tsined an undgr3tsrKliThJ ofthe bJal reguktory franeworks typkable to the crfflpany finaTrial stst8ments or that had a ndllental affact ¢)n lh8 npanY'S ¢4)erations. Wa dotemiined that the rnosl signifieAnt aThJ wUlatr induded UK GMP, UK Companies Act2( and taxatim laws. undetstrxNJ how th6 company ts comFtyirffJ Yath those legal and wulatNy framewort8 by mir¥J inquiries 0fmagemen( those r88wroitrAg for ar comF4i8nca pr<Mxdure& We assesses the suseeptrmlity ofthe 0)mpanS fina¥81 ststern to mateJi81 rnis¥tal8men( IndfiNJ how fra1 rnight ocixjr. Audlt proca(Jrgs perfCed by the engagent te indudY.' l¢knllfylrrfJ aThJ assesslro the deSn effe(1 of rM)ntroh manag8m8nt h&% In pla to prévant datèet fr8ud'. Umbrstsnding how (argad wth gOWnan co1[dered and address&J the potential for override of controls or other iwprcyriate iTrfluenrn over ts fin8VKA31 pOIre procè99. D8tsid an&S1$ of loumah posted thtwJh lthe actounting SYS du the year to 31 AU8t 2022 has b88n und&rtak8n.' Understanding the CODlrd8 in pl lo prevent detecfraud. Rellance was not placed on contro15 for the enbrety of the a11, inste8d tsking 8 subslontsvg tth.ng apwoth. hLv•thw ¢))ntrols were In pla to Ch91£ asmptionS lUnts mad& byMannI In its spJnific8nt aLroundw estimates. UB9 of our rewt Thls report Is m solely lo the t*arWs tnjstees. as a bcmty. in accordance Section 154 of the CharltlÈs Ara 2011. ourvrk has been undertaken 80 that rnh1 slats to ChIty'S trustees Ihose maiters we are lequired to stste to them In an 8uditors' rqx)rt and for no othr To the extent peDrittecS by law, we do not a¢p1 or 8ssuTh reStx)n3i.lity to anycn9 olh8r Ih8n the tthanty and its INSt as a body, for our aLKlit work, thi3 report, or ts th8 ownions we have forrned. 22/3/2023 st•phttn Hayrn•n Isbnlor SI#tOry Audltr) For and on half of Hath LLP Statutory Audltorn ndsor Howo Bay5hill Ro¥d Chettenha Gloucestershlrè GL50 3AT 16-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D The GLOUCESTER CHARITIE8 TRUST STATEMENT OF COMPREfrENSIVE INCOME FOR THE YEAR ENDED 30 SEPTEMBER 2022 2022 2021 TURNOVER 4.654.453 4,420,21 COVID Ineorn• 108,819 154.468 Op9ratiNJ CLxts 4 417 795 OPERATING IDEFicrrysuRPLUS I142.} 166.963 SU15 dL%poso1 oltanwble fixed a88ets 172.252 9.973 lDeficitywW on di¥)05al of asset Investm6nts 9).414 IDEFICIrySURPLUS ON ORDINARY ACTIVITIES BEFORE INVESTM INCOIAE AND INTEREST {61.02BI 232.254 Interg¥t r)ie and other Incc4M& 154,259 144,483 Intsrest payale aNI similariaryes 47.818 49,416 SURPLUS ON ORDINARY ACTMTIES BEFORE CHANGES IN mARIT¥ALE OF INVESTMENTS 45.413 327,321 Movemont in tslrYaTrJe of invesbn8nts 745 138 EFicrrysuRPLUS FOR THE YEAR 1511.5851 1,072.459 Unrealised surplus on rèvaluati( of in%p$1mnl property 1.772,702 TOTAL COMPREHENSIVE INCOWE FOR THE YEAR 511.585 2 845 161 flnaNyl Statements 8pwod WKI 8tthoiised for is$ by thè Tne88 on 22.03.2022 Mr Martln Coifm5 Chalmian ofTnMtae$ The Glouetster CharllJe8 Tru61 chaImll olTru8tèos The Gloueestsr charit1 Trust The Trusvs r6yJlts wholly to continung ac*Mb&s. Thg th on pages 22 to 35fn part Oftle financ411 statements. -17_
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARftlES TRUST STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 SEPTEMBER 2022 2022 2021 FIXED ASSETS Housing propeites Extr8 ¢8re facdibes and l*ad offi¢ Invesbnent prop8rU8s Oth•r assets 2.835,642 4.181.044 10.058,394 319755 2,625,755 3,2C6,473 10,229,167 Tangible 8ets InVtrnents 17,194,836 5,227.899 22,422.535 16,451,7S3 6.071856 22,523.609 CiIRREKf ASSEf8 Slock Dèbto Cash at bgnk and in haThJ 1.635 192,414 1 331.810 1.525,8S9 10 153.131 1579 509 1,732,840 CREDrroRS: amounts folg due within one year 11 678,84 NET CURRENT ASSETS TOTAL ASSEfs LESS CURREiif UABILMES 23.269.548 23 809 250 CREDITORS.. amwnb f811iThJ due afbr more than L 12 1885 ($3 FINANCING AND RESERVES Restricted reseNes Unwtrtrtgd funds EndOtnam1 fund 14 1.166.756 18.175.923 1,168,944 18.$16,090 2 189 123 21.924.157 23 809 250 15 21.412,573 23 269 548 Thesg fInanTh slataments were wovgj grvj au11 for 22. by thts Trusta89 on ....... Mr Marbn Collins ChAlrnian ol Tru¥tg0 Tho GIouco8t•r ¢harftio¥ Tnrtt Sta¥8 è Chainnan of Trust8es Thè GlouCT Charili05 Tnmt The not&% on pag9$ 22 to 35 fum part ofthè88 fin$>91 statsment 18-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D wzw
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARITIES TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 30 8EPTEII8ER 2022 2022 2021 Not u¥h gonoratod from opor•tlng •¢tivltlo¥ {notg11 Cosh fl¢)w from In¥tIng aclh7t¢lo• Purchase of inv8Stmont S6oJriUas 379.540 490,216 11.D18.50n 1,215.252 11.448.640} 522.252 1708,1151 681,882 1828,3971 15,886 Sale and maturity of inveslmwtt securltles Purchase of lgIb fwj assets Sales proceeds from dwal oftsrrtjth fixed assets Interesttecoived 638,944 Cash flow from financlnq aGtMII98 154.259 147,818) 144,483 149,41SI 3,619 S1,448 Inter881 paid R4)aymont of LLYrowlng8 102.404 Nèt chanp In cash and cash èqulvalents (nots I Cash and eash èquIvantr at begknning ofywr Cash and cash equlvalents atend of year {247.699} 157,2801 1636 789 1,331810 1 579 509 2022 2021 I} ANALYSIS OF CASH FLOWS Cash Ilow from oporallno a¢tfvltlo8 Surplu8 for the year before revaluath)n of Ins Adlu$tments for nonwcaoh Itoms: DeFYedation oft8nglbb Ilxgd assets In¢reaso in debtc¥s Inu8asa In uadltorg 45,413 327,321 355,557 139,2831 231,386 11,63SI 1172,2521 ,414 345.810 120,1521 31.414 Iease in stoc* Surphjs on sde of tangible fixed assets Deficit l {Surplusl on sakn of fixed asset inveslments AdAlments for InvtIng orlthanclng a¢tiv5tlo¥: Go¥eMrnentgrants utiliwl in Ihe year Intarest payablg Diwdends received 19,973} 165,318} 123,6191 47,818 1154,2591 379,540 P3.fj19) 49.416 1144,483) 490.216 Nel caBh general yrakn'ng actP4ib85 Th8 notas on paggs 22 to 35 lomi wtofthese finarbid statsmen
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D TrIE GLOUCESTER CHARMES Trusr CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2022 11) ANALYStS OF NEf DEBT At 1 Octobgr 2021 Cash flow Non448h mov•m•nt Total 2022 Cash 8t b•* and in hand 1.579.51Tr3 1247.6991 1,331.810 Dobt duo within c¥)¥ y¢8r D¢bt due In moro orts year 14.03n {379.147) 4.037 14.4991 4,499 14.4991 1374,6481 Nèt dèbt I1325 21-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEM8ER 2022 ACCOUNllNG POUCIES 3asl8 of Preparatlon The finana81 statsmnts ha¥• baen Fxepared in acts)rdare wilh applicat4e Accojntiw Standard$ in th6 Unit8d Kirodorn indLKling Finan(xat Rew)rtiw Sts[ard IFRS 1021 and thè Houslno SORP 2014.. Statsment of Recomnd0d Practi for Rèwter&l Soc4al Housing ProvYern arKI wrth tha ActnIng Dirécuon for Pdv8ta R8graterad PrOvits ofSc¢id HcoJsitvJ 2019. Bul8 ola¢c¢)untlng These finanoal statements ha¥e been prepared uwrvj Ihe IvstoThxl cost Cgnvenuon wt knr. whore disck)sed in th&se aCCnting polhx. rtn iiems that are sh)wn at fair Ydlue. Th8 presentational ujrrancy oltha financial statemerts i8 Pound5 Sterthng. roundgj to thg r198r85t P¢MJnd. I11g the Cur ollhè prynary wxjnomk enr£¥eTht in whlth the Tnjst operate5. Tumov•r Turnover repTe8ents mwntenan¢x o)ntri>utsons, nur¥ing ho¥ng t, r6sknl£al h)me fe6s and commardal rant48cniabk. Golng conc•rn Aftermaklng enquiri68, thebitstee5 have a re8sond)le expectation1hatlhe charity has adequate re8ourrx¥ to cJJntinue its acaivrb8s ts Ihe fore3eeabl8 frrture. ALu¥dir¥Jy. they continug to adopt the gng ctsrn bas in preparing the financial StaentS as oulined the Statent of Twste88 ResponslI1t. Crffl¢al accountkngJudgw>1 and key Sour Ofesllmaljl un¢èrt4lnty In the applicatlon of tl Trusys aco)untiThJ pcdiw. the members are required to mè ludgèmsnts. tirnatss arKI a55umpts"o aboutthe carrying amounts of assets and liabilitks that are not readi 8PP8r8nt frorn other swrces. These estimatss and a8¥oo8ted assumpbons S ba1 M hkstoal exper1ere and other factors that are ¢>)nsidered to be relevanL A¢al results rnay differ from thes8 éstim8t68. Thèsè é8OmAtè8 and urKkrlyltvJ aÈsumption$ ara on an on-gcrfng b8si& RelOr to accnIng eslimatss are reo)gni89J in the perMJJ in vthith ts 88tirn8 is revis1 rfthe revlsfon 8ff8(ts onlythatp8riod or in Ihe period of the rewsi)n aThJ ftrbjre Feric4Js if tr revis1 affCts both current and fLtbJre periods. Flxed assets and depreclatkTrn Tangibh fix8d asseis are ststgd at cost less ))jMated depreLYali)n. with the 8XWJtion of invostment prcperties whlth 8ro shthvn al cyen maJ*etvthe. Depreciatr r& charggd on a straight Ine over tho expecled 8CcClniC useful Ives of the a35ets al the foknring ratss per annum.. Freeho housin9 prvpgrt RefiJrbi8hments Office aMI fflln Motor vehic3 Nurslng Homa and Day Centre ent See 5%-12.5% 20% 2S% 10%-20%
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARtriES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 ACCOUNTING POLICIES (contlnugd) HOlj prop• The Trust accounts lor its gxpèThJibTr ¢J) I¥)" Ey1ti6S usw accounting. Undèr component aOunt. in to Ihe sInlUre, the hou8iThJ Proty Is dIded into thth%e major ComprtS which 8re ConSi(k to have slants"alty difkrent Usetul econcAn Fves as follo.. Nlaln Fabrfc Roof ndow3 thor3 BathrO(S ElÈctrfcs 1LK) Y1$ 50 y&a 20 yea 10 y&ars 20 ygars 20 years 15 years 10 yo8Y5 H•a1iThJ As rnquired by FRS 102, the Trust has rgvvKd u¥efil fves of Its t¥JJsing prop8rbÈs and dgprgdatss Ihe property ac£ordiroty. The TDJSt witalises work lo F•b95 Thi¢ in an wIae In the nel renlal Ineoma, i¥KhJdiw 8 dueon In Mantsnare o)sts, or r8sults in Significw 8Xt8nsknn to Iha uséful onomIC lrfe of the property. rè property components with a separate Klenlifith Irf9 8r8 YÈplacéd. nth¥ comF)nents are cApitaled wth new lifè and th6 c&J L))mwents, ifany. are wrilten off. HousiNJ prcwties in the couTre ofcon5knKaN)n are staW at c1 and not deprec4at8d. Soclal Houslng GrJntand Oth•rCpltl GM are d&vdopmenis have bgen financ&Y wmlyorparty bySo(i81 H(xtsing Grdfrt'SHG' Ifomierfy°HAG'I, thè grants è racognIs in income over the wful life ol the )lI¥J PrOty structurè and, where applb. its indivKlu81 c(Mnponenb (6xd11ng land) underth& B(tnJab rncKleL SHG * HAG is under certawi c4rcumstan. primarity 5310 of a Foperty bul 11 nomalty be rgslri¢W to ¥ThwJs ofsth. ttth& is k)rth the initial an1 received. Government Grdnt Govemmenl grants bgsed on thg t¥U81 model are meastwed al th8 talr valu& ol tha ass81 or receNablè. Gr¥rrts TrlaliNJ tr) org ro(tyrwsed in ino)me over the pgriod in which tho ielated ¢osts are Twnised. Capltsllsallon of kntsrn6t Intsre5t on rnortg8gè loarn finC4j nd@Vekments i8 cEyitalis&J up to the date ofpraLal eompleEbn ol the SChne. L•a6ed a•8•ts Leases In vA¥ch 8thstanlaNy al Iha risks and T8w8rds of arè ralained by thelessorar8 clas3lffed as Dpgrating leases. Payments made uThkr oyatirrfJ bea5es are tharged to profri orloss on a straight-line basis o¥er the wiryl ofthe ièasa. InYèstr•nts Investmenls are stated at markètVal and are th& vthaIic reports reC8(d from thè Invastrnwt Managers. Cash and cash •qulvalents Cash and cash equivalenls CCIpIllO cash on haTrJ and arKI olTrr Ilquhj investments that arg tP8dily (xwwerliqa to a amountof cash and are subjecttr> 8n i19n1fiCaTrt risk of changa In vaue.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARrriES TRUST NOTES TO THE FINANCIAL STATEMENTS {conllnued) FOR THE YEAR ENDED 30 SEPTEMBER 2022 Accoup¥llNG POUCIES {conlInu} Tr4d• d•btorn Trade d8btors are nOUnts ¢Je from uJstOrnef9 lortha r8nid ofHOlj Trad8 d8blor8 are rerngnised initialty at tho trans#)n They subsaqwthi m6asured gt noitised cost usiro the effective Intefvst meYNKI. provwn for impainnent A p)slOA for npwtment Dftro(b debtors is estsblished vthen there is (tec¥8 e¥ence that the charitywll not be ab to colknt amwnts due aryyJrding to the oNJlnal tamts Of ¢abl&s. Trndo Crgdltors Trade clItOrS are cdlgth.ong to pay gwjs or8eTrice8 that have Iken ao]uired in the 0Inary wurse of bu8in&38 frrmn $vI.el. Aco)urts payable ar6dassthd as hablllUGs Ifthe charity does Mt have an unconditional righ( atthe end oflh8 pericKI. todefersettknentoflhe c¥editor for al1ga3ttsYgFwe months gfter Ihg reports.ng ¢J8ts. If there 15 an nditic IwJhl lo d&fer settlement lor al 8t rnonths after tre repoitiro dth, they are presented as rK>rHxJrTvnt li8bilrtps. Trade editoT8 are recognis&J inthdty at th6 transa(on 8fMI m•urj 8t amothed cost usiro effeth¥e Inierest meth¢KI. Taxatlon Tru51 is of ch8rit8bb st•ttJs KI therBfore exempt fmm taxation. Irre0Werab VAT exFendire is indud&l as part olth8 cxjsl ol (he itern of e>peThthure to which Ihe VAT relates. P•Mlon Costs The Charity werate8 a derj nInjI&0n Fen5ilM) SCIne. CL¥rtribu1r Crged tolhe incoma aTrJ 8>pdIthre accounts as tw becane pay8bJo in a¢¢ord#n¢ ¥rith th& rubs ofthg sch•. Legacy Income Legacy income is reoJgnW In the and e¥tw)dthrB a£yxyJnt on a receN8bl8 t48iS. Restrlcted reserves Th0 grè datald in nits 14 tr)Ihè finakaal 8talwnents. Endowment Funds Thes& deltsd In nots 15 tothg ffinaTrial 8taThenl& Flnanclal Instruments The Im51 8nter8 t9 bawc finanual in5fnJThnt transa¢JiJns that r8sult in the rec¥)gnition of finaMial as88ts and fhqbilibes 8uch as other recth a1 payth. and Inveslments In non-puttabl8 ordinary shares. Financi instrwnents daS$j and acwuwrtgd fuf to the 8ub¥tarnx of the rrtraClal affangamert as financkql 8ss8ts Qr ffinarthl li•biltb88. Debt Instruments like b)ans and othw wiv)l&s * pay)b are initi81ty rneaJurod at ys$8nt Wa of thè luturè pwiènts and srt)3equenty at Orsl cost uslro the eftecfve Interest methcY. Debt in5tNments Ihat gre payabbe or recAvabla wthin orTr6 year, typllY trade pay818$ or reeeivth. ara measured, initialty aThJ subs6qu&nty. 8t ndrnted amomt ofc8sh or other consNYer8tion 8xpect8d to be paid or re(tved. Fknwever, rf the arrarJts of a short-term Instrument consltuie a firrarIng transaction, like the payment of a lrnd& dèbt d8fwrl LyoNI Thom bu$in8S8 t8tmg or fina at a rata of Int8régt that is neA a markèt rate or in iase of an outsvJhl shorkterm loan not at market rate, the thancial as38t orliability v6 Theasijred. initialty and stwwity. atthg YotybS of future payThents dIsco¢ted at a mat*et rate of interest for a simlwdèbt uistrum8nL Inve51rnents in rwttable CrfdIry shares ¥•m8a9ur•J atcost$S knpalftnantfor dl otharltlvostsm. -24-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER cHARlEs TRUST NOTES TO THE FINANCIAL STATEMENTS leonllthuèdl FOR THE YEAR ENDED 30 SEPTEh1BER 2022 ACCOUNnNG POUCIES (connUd) Flmnclal In8trum•nt8 {conthiu•dl Financlgl assels that a mèasured at cst anorf1s cosl a assessed at end ol &J¢h reporfdng period lor obiedive evidence of impaWwnt If ¢)bF(vg 9VK19n of Impamnt * found, an knpayment los$1s recognLsed in wofit orloss. For financial assets measured al 8mrytiswl c(wt, the impairffl8nt ID551s moasurod as tha dtfferencE beiween an asse¥s carryirJ value and the Presgnt valuè of èsiimatèd cash flo¥ discountsd althe assefs Origin effedwg intgrgstth. 11 a asset has a Variab Inte$t rdte, the dSscount rate for measuriThJ any impaimnt loss is the current 8ffècbvé int6rst r8to d6tannin•d undar the contrart FDI financial p55ets rv8asur8d al CLK%t less palm)en[ the impaiment103s 15 rn8a9Uted 39 th8 differen b8tsv88n an assèys rarrytng afYKMmt8nd Lwt&sb"male. is an approxwnation, oftt anyyjnt that tTUStwould receive forthe a33et rf itEre to be ¥okl Èt tha r@ting dat8. Financwl assetsal liabilthes arg off¥etaThl th8 Mt•nountrnccgnls8d in theslatementolfinancl posilkjn when there is an enfothe rightto set off the amounts 8MI tr*r8 is an intsntion to s&tU8 on nèt b8$k4 orto r8ali8e th8 ass8t and s8td& ts lithkty shmultaneOly. Ateach reporbr¥J dats asse15 not carried at tsw valug. as prOrtY, plwl emd equlpment arè revlawed to dètemilne th&r• an iliCatiOn thal an a38el may bg irllpair8d. If thère is an inthcation of possibb itnpairm8nt. re(xiverable anount of any asset or group of relakny assets, which the higher of value in use and the fair ¥ue1$S ¢))sts to sell. B estimat1 &)d compared with Its amounL If Ihe recovernb amount Is kn¥6r, the Caryg amount ofthe asset 13 ti> il¥ rgwvgiab amount and w impaYTn0nl lo¥$ irm&liatety In profitor k)5S. Ifan inpalmient loss SLWuenty revers&d. ts caryry am¢JMtOf 888Ot or group of rdatsd awts 18 increasgd ts) thg revi¥ed 9gtimate of ts rw)v8rth 8mounL b(rt not to exc8ed the anounl that woukl have been deteIned had no impalm k)ss bw reni$•d for the asset or group of related assets in prky A reversal ofan inpawment bss is recogni1 InmJtèty tn the reported surplu9 ordoficft.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES TRUST NOTES TO THE FINANCIAL STATEMENTS l¢ontlnuodl FOR ThE YEAR ENDED 30 SEPTEMBER 2022 PARTICULARS OF TURNOVER, OPERATING COSTS AND OPERATIMG SIffiPLUS Turnov•r Op•Tating Costs 0ratIng SurplusllDenclt) ial housww lètllngs lxèè notè 3) 1,209,CK11 11,114.758} Grant irKome 23.619 23,619 ActlvlU¢s oU*rthan socfal houjlng In¥estment propeity lettings Charilable giving Admlnistralon eAisL5 mbrclUb Extra-c8 fatylity oth incthi• 329,894 329,894 159.089) 1215,0251 122,9&51 1372,8671 79 344 {59.089) (215,025} I204,1) 13,235,208) 77.19 4906138 181.878 2.862,341 156,541 4 763 272 Total 2021 Turnover Opgrallng Costs Opgratlng surplUDefl¢Ftj Soclal houskvJ lEMfin {so9 ll(rte 3} 1,230,188 {936.4391 293,749 Grant incom8 22.583 Actlvltles otherthan soclal hou81 Investrnent propth bltir Charft8bb 01 Ath)inistrat•)n cc6ts Kinbroso Club Extra-care facility othgr incomg Total 226,038 183,956) 1224.131) 177,035) {152.354) 152069 183,9561 {224.1311 {196,3701 12,976.8991 119.335 2.824,545 152,C69 4 674 758 4 417.795 All inccffle B geneTated the UThbJ lQ"nfv.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARITies TRUST NOTES TO THE FINANCLAL STATEMEIITS Ici>ntlnuodl F¢)R THE YEAR ENDED 20 SEPTEIABER 2022 PARTICULARS OF TURNOVER AND OPERATING EXPENtxruRE FROM SOCIAL HOUSING LEING8 Supported houslng Ilncludlng hou81ng for oldor peop) 2022 2021 In¢om• 654.047 529.116 640.236 551.667 12,753 25,532 1.230,188 S6Mct charge Inctme Govemment grants laken to Incom& Ofher grants Tumow frcm s¢xlal hous1 lJirS 25,838 1,200,1 Opgratlng expondltrjvg manageMt SaMc* charg& costs Rouline rnaintsn 150,201 622,710 SS.642 109.365 670 176,170 72,911 554,584 38,255 113.491 3.201 147,803 6.214 938.439 Planned Maintenar Bad debt¥ Depreciation ofhwsiTrJ wwbes 0th9r ¢y)sts 1.114,758 Okwatir¥J 80do1 h(xtslny LotUThJ5 Voil Iosa88 94,243 5e.953 293,749 51.885 During the year eThJed 30 S8plember 2022. Charity IAvn&J 137 units of al hous1r acwmmodatic under t) management (2021- 13n. Theaveragewethly maintenanceconffv)ulion Dnsoci81 IKNJsing ar£omOn was£93.95 f2021.£92.57). There re no general n13 hoLNiru or oftwcaiwm forthe social tting$.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARtriES TRUST NOTES TO THE FINANCIAL STATEMENTS Iconffinued FOR THE YEAR ENDED 30 SEPTEMBER 2022 EMPLOYEES 2022 2021 Av8rag8 Mmlr 0f)kryexPrPSI in ftdl I¥eqUIvants 123 121 Emth)yee3 costs duling the year Wpgg3 and la119$ s8[ s8rItY sts Other [S1On wsts 2,729,429 204,548 62.902 2,552,360 175,273 80,080 2787713 Ernduments tr) ChlefExetiy9 Offi The CEO is an ordinary member of th8 TnJ5t Group Pers(ql Pension Sckne there are 8rAcial tsrrns The o)ntiibution mad8 ty the Trust is 8% of >$$ salary, CEO pays 3% indiwdual conffibubon. whi¢ i¥ the ¥ame as 41 ottw mwrt)9T3 of Ihe P8wwon PKhem& Thg CEO has no other pen0 agreementto whrth thè Trt makes a ccthtio The gbovg rgpreaents Ihe erndwnents of Ihg hbJPwt paKI offiw. The Tnth, who con8tibJlp managing booy of the trust, rewved no rernurra1iDn thereftom. employee of the IN61 was p8kJ behveen £90,0 £100,000 and nilpad tthfftn £80,(81K1 ).000(202l-1 pavj belween £90,OCKI and e1CQ.IXq). p8id b9knwi £80.CiIO arml £90.rMxJi. The Trust h&s offKers otherthan the TNskes and the Chf EXeJ1 AUDITORE REMUNERATION 2022 2021 ReMerat)n payab lo the alitc Vahje Add] Tax was as fo4ows'. For audlt se1
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARITIES TRUST NofES TO THE FINANCIAL STATEMENTS {¢ontlnugd) FOR THE YEAR ENDED 30 SEvfEMBER 2022 INTEREST RECEIVABLE APL) OTHER INCOME 2022 2021 Inv•skn•nt Incom• DMd8nd InM 154,259 144.483 IiItEREST PAYABLE 2022 2021 Int•rn8t paYats and Sknllar ¢harge• Housiro pOratIon low1888 notè 131 Bgnk charges PaYae 42,316 42.735 47.818
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D 7J• woo
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CHARMES TRUST NOTES TO THE FINANCIAL STATEMEKfs Iconlkwod FOR THE YEAR ENDED 30 SEPTEMBER 2022 INVESTMENTS Total Al 1 Cktober 2021 Addit8 Di¥wI8 Changè in marf(dWuè At JO Sgptsmb•r 2Q22 6.071.856 1.018,507 11.305,666) 556,998 5 227 899 30 Septembor2022 4.189.260 30 Septembor2021 3,970.105 All Intrn arè qutstthd. No iNIMth81 investrn8nt mak88 up mcts than 5% oflhè lotsl InbonIp1Io. 10 DEBTORS 2022 2021 Trade debtOf5 Otherdebtots and 101,059 91,355 92,420 80.711 192414 153131 11 CREtxroRS~ dug TNlthln one year 2022 21)21 Trade cr&to Other creditor8 and accma15 D&fèrr8d Incomè- So(aa H(winy grarts Hou8wig knans (nots 131 371.653 279.Q76 23,619 175,266 244.071 23,819 4,037 446.999 678,847 12 CREDITORS- duè aftèr morè than y 2022 20 Defaffed inrAXn8- Sott81 Hng grants Hwsiny loarffj {rKAe 131 1,482,327 374.848 1.505,948 379,147 1.885.093 1.856,975 -31-
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER CTrL4RrriES TRUST NOTES TO THE FINANCIAL STATEMEpifs Iconllnued) FOR THE YEAR ENDED 30 SEPTEMBER 2022 13 HOUSING LOANS Borrowngs irlUded in cr&Yitor5 due Iwlhin a1 alter mtyo than as fOlkr.. 2022 2021 Loan sacured by mortgagè on St Margarets Property repay*)fe try gqu annua irta1rnts over eAJ yoars 8t8n intgt8St r810 of 14.75%, repaymerts c(Mmej in 1978 39,101 39,886 Loan 6ured by mortgage on St Philp8 Cwt Pirwty F?paYab equal annual Tristments o¥er60 years atan inteT881 of11.37%. repaymgrt crKfirnencgd in 1983 77.828 78,780 Loan secured by mortgage on St Marks Prcwty repayawg by arwal annua inslalments over yeats #t inter&st rate of 10.25 73,243 Loan secured by Mortga on St Barthokjmerts Propety repayable by equal annual in8taknents 0¥gr 60 y8ars at an intarègt rate of 10.5%, I89.1 191,475 Total securgd boong5 Loans arg ropayable a$ follry•rn: Due wthin one year Note 11 4.499 4,037 Duo aft•r mor• than on• y•ar. Betren ¢)ne and Ihw) year3 Betr and five years Aftar more 5 yaars 5,ffd8 19,841 349,779 4.037 16.146 Nots12 374.648 379 147 Not611 & 12 379 147 363.184
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOUCESTER cHARlEs TRUST NOTES TO THE FINANCIAL STATEMENTS {conlknued) FOR THE YEAR ENDED 30 SEPTEMBER 2022 14 REsTRTED RESERVES Glouce8tsr Dlstrlct Nurnlng Charkty R•lW In Nggd brnneh Totsl Al 1 Ortober 2021 Transbr (to) l from profrt and h)ss reseNe tlirect sxpendilu 566.461 I25.0)) 622.483 33.2L 1.188,944 18,1761 119.5681 (lo.7) (30.3641 At 30 SOpt•mr2022 521. 644,893 1.166.758 The Relpfin Need rasefve is m&Jeupofthe R1n Need Branc inv8sknents andtho accwnulatad surplus of incctho genorateil by th68è InstmanIS over Relièf in Néad èxp8ndlbJrè. Th8 re8eNe mgy bg aprAiwl only for thè purpo8Q Sgt out inthg constsOal of the Charity. The GlaeSter Distdct NwslNJ Charlty r8seNe 15 m1& LP of $urplus of in¢ixro OV8r expendlture g9llOrted by investrTtents. 15 ENDOWIIENT FUNDS Aat30 Septembor 2022 A#at 1 October 2021 Exp•nd•ble EndoThrt Gloucestsr Relf in Sickness End0ment Pèmiangnt EndowTronl GIOUter RelKf in Sickness EndobtrThent Fund Nwses Werare Fund Imeder Rest Home Repair FuTrJ Endowed Land 505.969 183,467 72,246 183,674 1.184,CQC 20B.287 82,144 208.723 1,184,CQ) 2,069,894 2.189 123 EXndabl• EndohMn¢nt An extendable eMlchwnent fund Is a luThJ that must be Intsd to prthlwe Incm)e. Cwdkng on the conditions attached lo th8 endowrn8n( Ihe InBtee8 1 8 81 rth%Erto caybwt all or part of il into an Ineome fv1 whith be An expendablg endowmènt dNf&rs tr) an fund in thatlhèts Is no aetud r8quir8m8nl ID spond th principal for the purposes of tl charity un19ss or until the trustees dede to. Howaver, inca)ma genorated frorn exwdaS18 an¢S)wmant differont from 1Th)ne genera1 from tmanntendon&nt and sIukI bè spent for thg purpose8 of tre charity within a re&4on*)1g of rlpL
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE CLOUCESTeR CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS {eontlnued> FOR ThE YEAR ENDED 30 SEPTEMBER 2022 ENtxY•YmEI FUNDS leononuod) Permanent EndowTrwnt Permanent end0%neI is property ol ts charity land. b¥j8, cash or iiv88tmgntsl Ythi¢h lh9 tN8tees may not 8pend ay if it were irKxYne. 11 must rkmi•Mty. smtyneg to us•J n fijrfharing th& cknariiys wrws8s, scffletimes lo produc8 incorne for Ihe dwity. The trt¥t8es fxnnol noftnd ynd peMIar eThJ(Mmenl wthout authority. Thè tanns of the eTryth8nt may permit asseis within th8 hJThJ to be sohl and reinve8ted or may providg that 8(wno or 811 of (ho assets e retard IndefiThtety. Purptssgs of èrtdontfun The GIouc8Ster Relief in S[crSs Charity If078 part of the Ger and WelfaTE Furvjl gnd thè GJ¢e5ter Rallef ki $kS9 Endovmient Fund If0mrtY 14 CkrernE Street) were a5tablhed to rtlwg C&898 ofper30r in need in the arga Of Cty o[GI¢Sterj P¥hS imndlatsly adloinlng thereto tho are sicx convalescent. disabkd. hanthic or infimi. The Nurses Weware Fund {formoty part of the arKI 710[9 Fundl wa$ &sta)w to provld& Income for the rellef of nurses who are in need who are reshlent as above aTh1 of retired nutsès who e in need 8nd were fr)nrIY emth9d by Glou[t Dlstiicl Nutsing Socw. Theeel Rest Home Repair FUThjcbjneS the permanentendowTnenb known asthgWnè8br L8ga(¥ 8nd th$ M&ntanarth. TIe werè frJunded by the wll ol viot Eva and rofited thg prcywty 15, H8athll8 Road, Gkxth8t8r, and a eapital sum kncx>ma ofwhich ts used to be uwj to meet the objeds of Charity. The property was scld durwu 2000 pmcè8ds End¢Aved land is hekl to ge Inv86tsntt ir*xffi 16 UNRESTRICTED FUNDS Invo8lm•nt Propgrty 0thgT 2022 As At 1 Ociober Surpkns for year Revaluation ol invesknents Revaluation ra$& on dispos8ts Nettran3ferto endoyffjd fur41 Nettransferto resirfthd funds 1.246.414 6.245.933 11,(63,743 98.3641 18,546,1 198.364) 1413,2201 (413,220) (290.e561 113,413 29J,658 5,816 {8,1781 119.229 22.188 At 30 S•pt•mbor 6,245.933 11243675 18175923
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D THE GLOIKESTER CHARMES TRUST NOTES TO THE FIKANCIAL STATEMENTS l¢ontlnued) FOR THE YEAR ENDED 30 SEFfEMBER 2022 17 GUARATrrrEES AND OTHER FI4ANCIAL COIWTM Th8 total offfijlura mlnlmum payts 2022 2021 Not latsr than year 31,020 37,312 Latsr than (Th y6ar8rn1 not1otsrth8n fve 29.11S 8Ql,135 60.135 97.447 Thg 4m(NJnt of noTrcarthllth cyeratiig te886 payments recognlgwj as an •yp8nse during the y98r w88 £20,84412tr21- £21.271. 18 LEGAL STATUS The Tntst ts g RggiSter8d CharTty 2C151771 ur the Charili&s Act 2011 was eonstittrtad by way ofa Scheme ol the Chty Commi8shThrs dated 4 W 1997. The Tw H al30 a RegistsTBd Swal Landlord Inurnber A021£1 uThJersectknn S oftt HtyJsvLg A¥wati(Mw 1985. 19 UNITING ]XRECTICIN A Unit1 Direction w&9 Issul by the charlty t[$)n ui for Gloucester Distdct NuTsir¥J Charity and thè Gloutsstsr Charitie8 TrusL The effeL* of this UThting Direots"on was that the entib"85 are rggistarod under a cy)mrnon l$trat)n numb arKI Irustèas ara r8quirwJ to prepar8 a sirob s8t of fina[al Btatsments for tha 8mdgam8tsd tharity. TAXATION The trust i¥ a RgJi5tsd Cl• exempt from UK laxa11 its than6 8Cfvlts, no tax811on thw9fote arises in Te5FeCtol i10e. NofrwJusllNG EVENfs AFTER IHE FINANCIAL PERIOD Folowing the yeareThJ, Mill Fam has been sokl for4 lotsl Lw¥thration of £2.873,000.
Docusign EnvÈlope ID." 54BEOB3&A1Atk494GBEF4ABEE800C6C9D