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: - Gardner’s Trustee 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: - Maintenance of financial reserves at a prudent level, with a proportion of the Charity's investments held in relatively low risk investments. - Periodic review (and the implementation of changes where necessary) of the operational controls that are in place, particularly in relation to investments, banking and the approval and payment of grants and annual grantees. - When available at acceptable premium rates, insurance on certain classes of risk. ## **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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. 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 comp*tad 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