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← Gardner's Trust For The Blind

2022-09-30-accounts

Registered number 207233

Gardner's Trust For The Blind

Report and Unaudited Accounts For The Year Ended 30 September 2022

Suite 1, Unit 2, Stansted Courtyard Parsonage Road, Takeley, Essex, CM22 6PU

Gardner's Trust For The Blind Report and accounts Contents

Page
Charity information 1
Trustee's report 2
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the accounts 10

Gardner's Trust For The Blind Charity Information

Trustee

Gardner's Trustee

Clerk

Simon Poli

Independent Examiner

Frank McDowell FJM Accountancy Ltd 23 Shackleton Court 2 Maritime Quay London E14 3QF

Bankers

Bank of Scotland 38 St Andrew Square Edinburgh EH2 2YR

Investec Wealth & Investment Ltd 2 Gresham Street London EC2V 7QP

Investment Advisers & Portfolio Nominee Account Holders

Investec Wealth & Investment Ltd 2 Gresham Street London EC2V 7QP

Registered Office

Suite 1, Unit 2, Stansted Courtyard Parsonage Road, Takeley, Essex, CM22 6PU

Registered Charity Number

207233

Solicitors

Bates, Wells & Braithwaite 2-6 Cannon Street London EC4M 6YH

Organisation & Decision Making

Gardners Services Ltd Suite 1, Unit 2, Stansted Courtyard Parsonage Road, Takeley, Essex, CM22 6PU

1

Gardner's Trust For The Blind Registered number: 207233 Trustee's Report

The Trustee presents its report along with the financial statements of Gardner’s Trust for the Blind (“the Charity”) for the year ended 30 September 2022. The financial statements have been prepared in accordance with the accounting policies set out on pages 10-11 and comply with the applicable law.

Legal Status

The Charity was set up under the Will of Henry Gardner, who died in 1879; it has subsequently benefited from legacies from a variety of other benefactors. The Charity operates under a Trust Deed originally approved by the Court of Chancery in 1882, but which has been modified since on a number of occasions by Schemes approved by the Charity Commissioners, most recently during 2010.

Trustee and Appointment

The following served as sole Trustee of the Charity during the year:

The following, all being Directors of Gardner's Trustee, served as members of the committee of management of the Charity during the year in that capacity:

The Rt. Hon. the Viscount Gough Dr R. Forster S.C. Jones D.R. Beardsley (resigned 14.10.2022) Dr J.W. Hawkins Dr N.M. Berman M.H. Burrows

Risk Management

The Trustee actively reviews the major risks that the Charity faces on a regular basis and believes that sufficient resources to provide for protection against adverse financial and other developments are provided by a combination of:

Investment Powers and Policy

The Trust Deed authorises the Trustee to make and hold investments using the general funds of the Charity.

The Charity’s fundamental investment policy over the long term is to maintain the real value of capital and income; a variety of investments are held to ensure diversification of investment risk. The Trustee agrees detailed investment guidelines with the Investment Manager from time to time and meets regularly to review performance against agreed benchmarks. The investment guidelines are sufficiently flexible to allow the Investment Manager to anticipate and react to changes in market conditions.

2

Gardner's Trust For The Blind Registered number: 207233 Trustee's Report

Reserves and Reserves Policy

It is the policy of the Trustee to maintain unrestricted funds at a level that equates to a minimum of 24 months' unrestricted expenditure. Such funds have been maintained at this level throughout the year. A transfer of £6,963 has been made from the Income Fund to the Capital Fund. The Income Fund has been set at £220,000, representing the amount the Trustee feels would be prudent to maintain as being 24 months' expenditure. The capital fund held total reserves of £3,607,452 at the year-end (2021: £4,233,234) and meaning that total reserves at the year-end were £3,827,452 (2021: £4,453,234).

Constitution, Objects and Policies

The Charity is constituted by Trust Deed and its objects are the distribution of its income for the benefit of needy registered blind or partially sighted persons by way of discretionary annual grants, maintenance, educational and training grants and general grants for specific objects to individuals, institutions or organisations.

The Trust’s policies are to maximise its income subject to its constitution and investment policy and to continue to fulfil its objects.

Organisation and Decision Making

The Trustee delegates the day to day responsibility of achieving the Charity's objectives to the clerk and the staff of Gardners Services Ltd who administer the day to day transactions and maintain the books and statutory records, and the Chairman of the Directors, who makes decisions on grants and pensions. The Directors of the Trustee regularly meet to review these activities and make decisions as to the strategic direction the Charity should take, and communicate this to those responsible for delivery.

Grant Making Policy

The constitution gives the Trustee the right to give grants to successful applicants having fulfilled all conditions stipulated for such grants. Grants are awarded for a period of two years after which they lapse and the funds returned to the General Fund. All grants are made to blind or partially sighted individuals, or to other organisations or institutions for the blind.

Trustee Induction and Training

The Charity has appointed Gardner's Trustee as its sole trustee. Gardner's Trustee has a policy to appoint Directors who are familiar with Charity Law. In order to assist in the running of the Charity, documentation has been prepared setting out the constitution, objects and running of the Charity.

3

Gardner's Trust For The Blind Registered number: 207233 Trustee's Report

Trustee Responsibilities for the Financial Statements

The Trustee is responsible for preparing the Trustee Annual 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 and Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustee is required to:

The Trustee is responsible for keeping proper records which disclose with reasonable accuracy the financial position of the Charity and enable it 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. The Trustee is also responsible for safeguarding the Charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and breaches of law and regulations.

Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Financial Report and Main Achievements

The Statement of Financial Activities shows total income of £111,601 (2021 - £95,886). Expenditure amounted to £104,638 (2021 - £123,249), of which £14,143 (2021 - £14,360) was spent on governance costs and £58,288 (2021 - £77,060) on help to poor and needy blind and partially sighted people through one-off and annual grants. The Income Fund's surplus for the year was £6,963 (2021 - Deficit £27,363).

The Charity continued to support, on average, 24 quarterly grant recipients at a cost of £16,675 (2021 - £17,049). An annual amount, payable quarterly, is normally payable to such pensioners as long as they continue to meet certain criteria and the Charity has sufficient funds available, but there is no contractual requirement for the Charity to do so.

Net single grants totalling £40,613 (2021 - £60,011) were made during the year to 81 eligible applicants. Charitable donations totalling £1,000 (2021 - £nil) were made to 2 (2021 - nil) organistaions during the year.

4

Gardner's Trust For The Blind Registered number: 207233 Trustee's Report

Public Benefit Statement

The Trustee confirms that it has referred to the guidance contained in the Charity Commission's general guidance on Public Benefit when reviewing the Trust's objectives and in planning future activities.

Gardner's Trust for the Blind provides one-off and renewable grants to members of the public in the United Kingdom who are registered blind or partially sighted; it does this both directly and, sometimes, through other charities for the blind. Any member of the public satisfying one of these criteria is free to apply and the Charity's committee of management, or those to whom it delegates day-to-day authority in respect of smaller appeals, considers all applications.

The Charity works closely with other charities for the blind and with recognised almoners, such as local authorities; every effort is made to ensure that applicants are already receiving any statutory benefits to which they are entitled.

Applications are considered on a case by case basis with priority being given to those cases where a grant beyond statutory entitlements can do the most good; for example, towards individuals setting up in business, helping meet the costs of higher education, or contributing towards equipment that will provide a higher quality of life.

The Trustee confirms that it has complied with Section 17 (5) of the Charities Act 2011, to have due regard to the Charity Commission's general guidance on Public Benefit, 'Charities and Public Benefit'.

This report was approved by the board on and signed by its order.30th March 2023

Dr J Hawkins On behalf of the board of Gardner's Trustee Trustee

5

Gardner's Trust For The Bllnd Independent examiner's report to the tvustee of Gardnef8 Tntst For T￿ Bli￿1 I report to Ihe trus189 on My examination of Ihe ￿)Unts of Gardngfs Trust for thg Blind {th& Twsfi for tho year ondad 30 September 2022, vA)i¢h ao Set out on paJes 7 to 19. Re8ponslbllltS•# and bas18 01 report As the charity trustee ol the Trust you ar responsib￿ kn the prep8r8tion Of the accounts in 8Cc¢Xd8n￿ wth the requirements ol th& ch8nb.es Act 2011 (Yhè A¢VI. I rèport in respect of my èxarnirnation of the Trugt8è's ar£oJnts ¢8ni&J out uTrJ8r ￿tion 145 of th8 2011 AL# onty In carryir¢g out my examination I ho￿ fdllx￿d ay the aFplie• Lh"r•ckns gwi by the Charity Ccfflmis6ion undar saets"¢n 1451Sllbl of Ihg 2011 ACL Indap•ndgnt gxarnlngV8 8tst•m•nt I have comptad my examinabon. I confimi th8t no matsrial mattors ¢om¥ to my attentbn in connection wih the 0￿Mination giwng m• c8use to believè th81 in any mat8rial rèsp8t 111 accountr'ng re¢ord$ were not kept in r•spect of ts Tr￿t as wiirtyJ by 8ecaTron 130 Oft￿ Art or 121 th accounts do not atx(¥d wrth th￿ r¥¢ord¥'. or 131 th• a￿ounts do not CoM￿Y wth th8 aFvIic8bb ￿Uirernents C0Th￿nIr￿￿ thtr I￿rn and ¢xJntent of acLounts set out in the chafiti.trs (A￿oUnts and Rgpjrtsl R&Julats"c¥)s 2CQ8 other than any r8quirwwi thal the ￿1x)Unts glw a tru¢ and fair w. whlch 18 not a m8tt¢r ¢onsidered as part of an in¢knndonl •XAmination. I have no cone•m$ and havb c(¥ne a¢rc48 ￿ other maws In fMn•c4ion with the examln8Uon to tsich attenth￿ should be drawn In thi8 report in ordèr to enablo a Fry•r under8tsndlThJ of th• xts)unts to b8 roackned. Frank M¢Dow811 FJM A¢¢ountancy Ltd 23 Shacklaton Court 2 Maritirne Quay London E14 3QF Dgt•'. Q* JUrJ£

Gardner's Trust For The Blind Statement of Financial Activities for the year ended 30 September 2022

Income
Investment income
Interest on deposit accounts
Total income
Expenditure
Managing funds
Charitable activities (Notes 8 and 9)
Governance costs (Note 12)
Total expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net surplus/(deficit) for the year
(Loss)/gain on investments (note 3)
Net movement in funds
Transfer between funds		 2022
£
Unrestricted
Income
Fund
111,477
124
111,601
20,087
70,408
14,143
104,638
6,963
(6,963)
-
-
220,000
220,000		 2022
£
Unrestricted
Capital
Fund
-
-
-
-
-
-
-
-
6,963
(632,745)
(625,782)
4,233,234
3,607,452		 2022
£
Unrestricted
Total
Funds
111,477
124
111,601
20,087
70,408
14,143
104,638
6,963
-
(632,745)
(625,782)
4,453,234
3,827,452		 2021
£
Unrestricted
Total
Funds
95,736
150
95,886
19,949
88,940
14,360
123,249
(27,363)
-
747,235
719,872
3,733,362
4,453,234

There were no recognised gains or losses for 2021 or 2022 other than those included in the statement of financial activities.

None of the Charity's activities were acquired or discontinued in the above two financial years.

7

207233

Gardner's Trust For The Blind Registered number: Balance Sheet as at 30 September 2022

Notes
Fixed assets
Investments
3
Current assets
Debtors
4
Cash at bank
Creditors: amounts falling due
within one year
5
Net current assets
Net assets
Reserves
Unrestricted capital fund
6
Unrestricted income fund
7
Total reserves
14		 2022
£
3,614,211
79
218,145
218,224
(4,983)
213,241
3,827,452
3,607,452
220,000
3,827,452		 2021
£
4,260,465
4,291
201,276
205,567
(12,798)
192,769
4,453,234
4,233,234
220,000
4,453,234

The accounts were approved by the board on and signed on its behalf.30th March 2023

Dr J Hawkins On behalf of the board of Gardner's Trustee Trustee

8

Gardner's Trust For The Blind Statement of Cash Flows for the year ended 30 September 2022

Operating activities
(Deficit)/surplus for the financial year
Adjustments for:
Loss/(Gain) on Investments
Investment Income
Dividend Income
Decrease/(Increase) in Debtors
Increase/(Decrease) in Creditors
Cash used in operating activities
Investing activities
Payments to acquire investments
Proceeds from sale of investments
Investment Income
Dividend Income
Cash generated by investing activities
Net cash generated
Cash used in operating activities
Cash generated by investing activities
Net cash generated
Cash and cash equivalents at 1 October
Cash and cash equivalents at 30 September
Cash and cash equivalents comprise:
Cash at bank		 2022
£
(625,782)
632,745
(124)
(111,477)
4,212
(7,815)
(108,241)
(971,592)
985,101
124
111,477
125,110
(108,241)
125,110
16,869
201,276
218,145
218,145
218,145		 2021
£
719,872
(747,235)
(150)
(95,736)
(4,199)
6,569
(120,879)
(141,518)
226,244
150
95,736
180,612
(120,879)
180,612
59,733
141,543
201,276
201,276
201,276

9

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

1 Accounting policies

a) Statutory Information

Gardner's Trust for the Blind is a charity, domiciled in England and Wales, registration number 207233. The registered office is Suite 1, Unit 2, Stansted Courtyard, Parsonage Road, Takeley, Essex CM22 6PU.

b) Basis of Preparation

The financial statements have been prepared in accordance with the charity's trust deed, 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)".

Gardner's Trust for the Blind 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 notes.

The Trustee considers that there are no material uncertainties about the Charity's ability to continue as a going concern.

c) Investment Income

Investment income is credited to the Statement of Financial Activities when the Charity has entitlement to the resources and to the extent that the resources will be received.

d) Charitable Activities

Grants payable are accounted for on the accruals basis when approved by the Trustee. Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Charity. The grants are charged in the year when formally awarded by the Charity and communicated to the recipient irrespective of the period covered by the grant as they are regarded by the Trustee as financial obligations. Annual grants payable to beneficiaries are on a quarterly basis and reviewed annually by the Trustee. The annual grants are at the discretion of the Trustee and therefore are provided as they accrue.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and costs linked to the management of the Charity. These costs are allocated against charitable activities.

e) Investments

Investments are stated at fair value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

10

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

f) Fund Accounting

Capital Fund

This represents the original capital of the Charity and accumulated growth. There are no restrictions to its use, and the Trustee tries to maintain this at a level which will generate sufficient income to cover annual expenditure.

Income Fund (formerly General Fund)

This represents accumulated income over the years, less annual expenditure. The fund is primarily used to meet the annual expenditure and generate further income. The management committee consider it appropriate to maintain an income fund to provide reserves amounting to approximately 2 years of aggregate anticipated expenditure (comprising grant and annual grant awards and administrative expenses). This level takes into account the possibilities of variances in investment income; an unexpected financial loss; any exceptional calls for grants; and operational losses not covered by insurance. The level of the Income Fund is adjusted principally through increasing and decreasing the level of grants. At 30th September 2022 the Income Fund of £220,000, represented 2 years of aggregate expenditure ending on that date.

g) Voluntary Income

Voluntary income is recognised where there is entitlement, certainty or receipt and the amount can be measured with sufficient reliability.

2 Income from activities

The income from dividends and interest which arose wholly within the United Kingdom, and the surplus, are wholly attributable to the welfare of the blind, less governance costs.

3 Investments

undertakings
£
Market valuation
At 1 October 2021
-
Additions
-
Realised gain on investments
Unrealised (loss)/gain on investments
Disposal proceeds
-
At 30 September 2022
-		 2022
£
4,260,465
971,592
272,029
(904,774)
(985,101)
3,614,211		 2021
£
3,597,956
141,518
46,564
700,671
(226,244)
4,260,465

Full details of the investments are given in note 17.

11

Gardner's Trust For The Blind Notes to the Accounts

for the year ended 30 September 2022

4
Debtors
Accrued income
Other debtors
5
Creditors: amounts falling due within one year
Sundry creditors
Grants awarded
6
Unrestricted capital fund
At 1 October 2021
(Loss)/gain on investments
Transfer from/(to) income fund
At 30 September 2022
7
Unrestricted income fund
At 1 October 2021
Net surplus/(deficit) for the year
Transfer (to)/from capital fund
At 30 September 2022
8
Expenditure on charitable activities 2022
£
Activities
Undertaken
Directly
Donations (Note 11)
-
Grants Awarded (Note 11)
-
Annual Grants Awarded
-
-		 £
Grant Giving
Activities
1,000
40,613
16,675
58,288		 2022
£
-
79
79
2022
£
1,299
3,684
4,983
2022
£
4,233,234
(632,745)
6,963
3,607,452
2022
£
220,000
6,963
(6,963)
220,000
£
Support
Costs (Note
10)
206
8,448
3,466
12,120		 2021
£
2
4,289
4,291
2021
£
1,820
10,978
12,798
2021
£
3,513,362
747,235
(27,363)
4,233,234
2021
£
220,000
(27,363)
27,363
220,000
2022
£
Total
1,206
49,061
20,141
70,408

12

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

9
Expenditure on charitable activities 2021
£
Activities
Undertaken
Directly
Donations (Note 11)
-
Grants Awarded (Note 11)
-
Annual Grants Awarded
-
-
10 Analysis of support costs
Secretarial Fees & Disbursements: Grants		 £
Grant Giving
Activities
-
60,011
17,049
77,060		 £
Support
Costs (Note
10)
-
9,255
2,625
11,880
2022
£
12,120		 2021
£
Total
-
69,266
19,674
88,940
2021
£
11,880

The charity has reallocated the method of apportionment of support costs and governance costs in the financial statements. The support costs relate to the portion of secreterial fees and disbursements which relate to the processing of grant applications. The prior year's results have also been changed to reflect this basis, so the two years are comparable.

11 Grants awarded
Education & Trade Grants
General Aid Grants
Donations
12 Governance Costs
Gardner’s Trustee Annual Return
Secretarial Fees & Disbursements: Governance
Sundry Expenses
Indemnity Insurance
Independent examination fees		 2022
£
-
40,613
1,000
41,613
2022
£
13
12,120
362
478
1,170
14,143		 2021
£
8,573
51,438
-
60,011
2021
£
13
11,880
169
478
1,820
14,360

The charity has reallocated the method of apportionment of support costs and governance costs in the financial statements. The governance costs relate to the portion of secreterial fees and disbursements which relate to all matters other than processing of grant applications, and all other administrative expenses. The prior year's results have also been changed to reflect this basis, so the two years are comparable.

13

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

13 Trustees' remuneration and expenses

The Charity has an Officers’ Insurance Policy, on behalf of the Directors of the Trustee, in respect of any damages and legal expenses that may arise as a result of their actions during their periods of office. The premium paid was £478 (2021 - £478). There were no staff other than the Trustee. The Trustee received no remuneration during the year (2021 - £ nil).

14 Analysis of net assets between funds

Investments
Current Assets
Current Liabilities
Total		 2022
£
Capital
Account
3,614,211
(6,759)
-
3,607,452		 2022
£
Income
Account
-
224,983
(4,983)
220,000		 2022
£
Total
3,614,211
218,224
(4,983)
3,827,452		 2021
£
Total
4,260,465
205,567
(12,798)
4,453,234

15 Contingent liability

An Unclaimed Balance donation of £1,223 was received from LDJ Solicitors client account, (in the year ended 30th September 2014) which may have to be returned if their client makes a claim for said sum. A further sum of £379 was received from Brighouse Solicitors during the year to 30th September 2017.

16 Related party transactions

There were no related party transactions in the year or in 2021.

14

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

----- Start of picture text -----
17 Investments 2022 2022 2021
£ £ £ £ £ £
Cost B/Fwd Additions Disposals Cost C/Fwd Market Market
At Cost At Cost value value
iShares S&P 500 Nav Units
15,000 118,343 485,906
(5,000) - (39,448)
10,000 78,895 327,375
Ishares FTSE100 Isharescore FTSE
Ucits
17,500 119,565 - - 119,565 118,090 121,870
UK Government 0.125% I/L 03/2026
60,000 80,862 - - 80,862 80,083 82,903
Mercantile Investment TST Plc Ord.
25p
70,000 73,264 - - 73,264 115,150 189,350
Threadneedle Investment UK Equity
Income Units
106,814 137,323 - - 137,323 180,804 205,254
Blackrock Fund Managers Ltd
European Dynamic Fund Income Units
115,000 115,746 - - 115,746 245,358 331,948
Artemis Fund Managers Institutional
Income Units
140,306 122,241 - - 122,241 127,609 141,176
Empiric Student Property Ord1p
100,000 102,089 - - 102,089 85,850 89,200
iShares Li Plc Core UK Gilts
Institutional Income Units
14,000 185,524 191,677
(8,000) - (106,014)
6,000 79,515 62,235
City of London Investments Ord. 25p
40,000 159,330 - - 159,330 150,500 155,600
Maitland Instl Svc MI Twentyfour Am
dynamic
900 100,968 - (33,656) 67,312 53,652 103,102
(300)
600
Carried forward 1,315,255 - (179,118) 1,136,142 1,546,706 2,097,986
----- End of picture text -----

15

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

£
Cost B/Fwd
Brought forward
1,315,255
iShares Core Corp Bond Ucits EGF
GBP
1,000 153,347
(1,000)
-
Fidelity Special Value Ord GBP0.05p
75,000 145,501
International Public Partnership
84,375 129,188
7,031
8,594
100,000
Schroder Investment Management
300 109,337
Blackrock Fm Ltd Charities UK Bond A
GBP Dis
138,500 181,252
(138,500)
-
iShares Ii Plc USD Treas Bd 7-10yr
Ucits
15,000 -
Diverse Income Tru Ordn GBP0.001
125,000 106,646
Henderson Investments Janus Hend
Instl Hgh Alpha
100,000 48,562
(100,000)
-
Keystone Inv Tst Ord GBP0.10
50,000 -
Franklin Templ/Im UK Smaller Cos W
Acc Nav
30,000 74,865
Royal London Sustainable Leaders
Trust
40,000 80,744
Carried forward
2,344,697		 £
Additions
At Cost
-
-
-
11,214
14,344
-
-
-
-
-
-
-
-
25,558		 £
Disposals
At Cost
(179,118)
(153,347)
-
-
(181,252)
-
-
(48,562)
-
-
-
(562,279)		 2022
£
Cost C/Fwd
1,136,142
-
145,501
154,746
109,337
-
-
106,646
-
-
74,865
80,744
1,807,981		 2022
£
Market
value
1,546,706
-
179,438
151,600
116,897
108,250
82,445
84,680
2,270,016		 2021
£
Market
value
2,097,986
151,420
221,063
137,363
138,319
256,017
-
145,312
142,200
-
121,704
98,680
3,510,064

16

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

Brought forward
Henderson Euro Foc Ord GBP0.50
40,000
Schroder Unit Tst US Smaller Cos Z
Inc
35,000
Schroder Japan Gwt Ord GBP0.10
25,000
(25,000)
-
Ninety One Fd Managers Global
Environment K GBP
50,000
RIT Cap Partners Ord GBP1
5,000
Schroder Real Estate Ordinarty Shares
NPV
200,000
Sdcl Energy Efficient Ord GBP0.01
58,333
41,667
100,000
The Renewables Inf Ord NPV
70,832
Warehouse Reit PLC Ord GBP0.01
70,000
Oaktree (Lux) Funds Global High Yield
Bond
1,200
Royal London Bond Fund
100,000
(35,000)
65,000
Carried forward		 £
Cost B/Fwd
2,344,697
52,721
50,760
49,463
51,927
93,701

63,401
64,909
85,192
84,700

-
-
2,941,471		 £
Additions
At Cost
25,558
-
-
-
-
-
-
46,668
-
-
113,040
143,930
329,196		 £
Disposals
At Cost
(562,279)
-
-
(49,463)
-
-
-
-
-
-
-
(50,376)
(662,118)		 2022
£
Cost C/Fwd
1,807,981
52,721
50,760
-
51,927
93,701
63,401
111,577
85,192
84,700
113,040
93,554
2,608,554		 2022
£
Market
value
2,270,016
50,800
61,215
74,065
103,750
92,400
101,000
90,027
75,600
92,364
70,980
3,082,217		 2021
£
Market
value
3,510,064
63,600
62,545
56,750
81,360
128,875
98,700
66,500
88,611
103,460
-
-
4,260,465

17

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

----- Start of picture text -----
2022 2022 2021
£ £ £ £ £ £
Cost B/Fwd Additions Disposals Cost C/Fwd Market Market
At Cost At Cost value value
Brought forward 2,941,471 329,196 (662,118) 2,608,554 3,082,217 4,260,465
JO Hambro Cap Management Johcm
UK Equity
75,000 - 146,187 - 146,187 124,621 -
Twentyfour Global Inv Corporate
Bonds
1,500 - 154,191 -
(500) (51,397)
1,000 102,794 77,580
Aviva Invrs Sel Fd AI Us Eqty Inc
80,000 - 158,081 - 158,081 164,968 -
Hipgnosis Songs Fund
50,000 - 58,401 - 58,401 44,525 -
Valu-Trac Inv Funds Protean Cap Elder
135,000 - 125,536 - 125,536 120,290 -
Total 2,941,471 971,592 - 713,515 3,199,553 3,614,201 4,260,465
----- End of picture text -----

18

Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 September 2022

17
Income
Investment income
Interest on deposit accounts
Total income
Expenditure
Managing funds
Charitable activities (Notes 9)
Governance costs (Note 12)
Total expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net movement in funds
Comparative statement of financial activities
Net deficit for the year
Transfer between funds
Gain on investments (note 3)		 2021
£
Unrestricted
Income
Fund
95,736
150
95,886
19,949
88,940
14,360
123,249
(27,363)
27,363
-
-
220,000
220,000		 2021
£
Unrestricted
Capital
Fund
-
-
-
-
-
-
-
-
(27,363)
747,235
719,872
3,513,362
4,233,234		 2021
£
Unrestricted
Total
Funds
95,736
150
95,886
19,949
88,940
14,360
123,249
(27,363)
-
747,235
719,872
3,733,362
4,453,234

There were no recognised gains or losses for 2021 other than those included in the statement of financial activities.

None of the Charity's activities were acquired or discontinued in the above financial year.

19

Gardner's Trust For The Blind Statement of Financial Activities for the year ended 30 September 2022

This schedule does not form part of the statutory accounts

Incoming resources
Income from investments
Interest and deposit accounts
Total incoming resources
Resources expended
Managing funds
Gardner’s Trustee Annual Return
Sundry Expenses
Indemnity Insurance
Audit/Independent Examination Fees
Donations
Grants Awarded (Note 11)
Annual Grants Awarded
Total resources expended
Total funds brought forward
Total funds carried forward
Secretarial Fees & Disbursements:
Grants
Secretarial Fees & Disbursements:
Governance
Net incoming/(outgoing) resources
for the year
Net movement in funds
Unrealised gain on revaluation of
investments
Realised gain on revaluation of
investments
Transfer between funds		 2022
£
Unrestricted
General
Fund
111,477
124
111,601
20,087
13
12,120
12,120
362
478
1,170
1,000
40,613
16,675
104,638
6,963
(6,963)
-
-
-
220,000
220,000		 2022
£
Unrestricted
Capital
Fund
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,963
(904,774)
272,029
(625,782)
4,233,234
3,607,452		 2022
£
Unrestricted
Total
Funds
111,477
124
111,601
20,087
13
12,120
12,120
362
478
1,170
1,000
40,613
16,675
104,638
6,963
-
(904,774)
272,029
(625,782)
4,453,234
3,827,452		 2021
£
Unrestricted
Total
Funds
95,736
150
95,886
19,949
13
11,880
11,880
169
478
1,820
-
60,011
17,049
123,249
(27,363)
-
700,671
46,564
719,872
3,733,362
4,453,234

There were no recognised gains or losses for 2021 or 2022 other than those included in the statement of financial activities.

None of the Charity's activities were acquired or discontinued in the above two financial years.

20