Regislered number 207233 Gardner's Trust For The Blind Report and Unaudited Accounts For The Year Ended 30 September 2024 Smilhfietd Accountants LLP Ch8rtered Accountants Surte 1, Unil 2, Slansted Couriyard PwsoThage Rs)ad, Takdey, Essex. CM22 6PU Gardnefs Trust For The Blind Report and accounts Contents Page Charity information Trustee's report Independent gxamineff s report Statement of financia acbvities Balallce sheet Note5 to the accounts GaTdner's Trust For The Blind Charity Inforniatlon Trustee Gar(Iner's Trustee Suite 1, Unit 2, Stansted Courtyard Parsonage Road, Takeley. Essex. CM22 6PU Clerk Simon Pol Indepèndent Examiner Frank IncDowell FJhll Accountaticy Ltd 23 Shackleton Court 2 Maritime Quay London E14 3QF Bankèrs Bank of Seolland 38 Sl Andrew Square Edinbur9h EH2 2YR Inveslec Weakh & lftve5tment Ltd 2 Gresham Stoet London EC2V 7QP CCLII Fund lfianagers Ltd 1 Angel Lane London EC4R 3AB Investmèrst Advi$ers & Portfolio Nomlnee Account Holders Investee Vvealth & Investment Ltd 2 Gresham Str￿t London EC2V TQP Registered Office Suite 1, Unil 2, Stansled Courtyard Parsonage Ro8d, Takeley, Essex, CM22 6PU Rggisterod Charity Number 207233 SolÈcltory Bates. Wells & Braithwaite 24 Cannon Street London EC4M 6YH Organisation & Decision Maklng Gardners Services Ltd Suite 1. Unit 2. Slansled Courtyard Parsonag@ Road, Takeley, Essex, CM22 6PU Accountants Stnfthfield Accountants LLP Suite 1. Unil 2, Stat)sted Courtyard Parsonage Road. TaJ(eley, Essex, CM22 6PU **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 2024. The financial statements have been prepared ·1n accordance with the accounting policies set out on pages 9-10 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 origlnal!y 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 seliled 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: Dr R. Forster S.C. Jones Dr J.W. Hawkins Dr N.M. Berman M.H. Burrows Mrs OAH. Albarran T.C. Thackeray (appointed 16.02.2024) ## **Charity Structure** Gardner's Trust For The Blind is a registered charity with charity registration number 207233. There is one trustee, Gardner's Trustee, which is a charitable company limited by guarantee, with charity registration number 216147 and company registration number 112514. ## **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 reselifes 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. 2 Gardner's Trust For The Blind Registered number: 207233 Trustee's Report Investment Powers and Policy The Trust Deed authorises the Trustee lo make and hoid invesknen18 using the general ftjnds of the Charty. The Charity's fundamgnlal inve3tsnenl policy over the long term is to maintain the real value of capital and income., a variety of investsnenls are held to ensure dlvefsrf￿aI10n of investment risk. The Trustee agrees detailed investment guidelines with the Investment Manager from time lo time and meets regularly to review performance against agreed benchmarks. The investment guidelines are sufficienljy flexble to allow the Investment Manager to anticipate and react to changes in market condili¢)ns. Reserves and Reserves Policy It 1$ the policy of the Trustee lo maintain unrestricted funds al a level that equates lo a minimLsm of 24 months, unrestricted expendslure. Such funds have been maintained at this level throughout the year. A transfet of £32,192 has been made from the Incoffle Fund to the Capital Fund. The Income Fund has been set at £220,000, represonling the 8mounl the Trustee feels would bè prudent to msinta*n as being 24 months, expenditure. The ￿pItal fund held total reseNes of £4,162,392 at the year-end 12023.. £3.734.6581 and meaning that total rese￿eS at the year-end were £4,382,39212023.. £3,954,658}. Constitutlon, Objects and Policies The Charty Is consbtuted by Trust Deed and ks objects are the distribution of its income lor the beneff( of needy registered blind or partEalty sighted persons by way of discretsonary annual grants, maintensnce, educational atTtI training grants and general grants for spacific objects to indniiduals, institutions or orgar¥isations. The Charity's pOI￿leS are lo maximise ts income subject to ils constitsjtion and investment policy and b continug lo fulfil ils objects. Organisation and Doclslon fvlaklng The Trust* delegates the day to day responsibility of achieving the Gharivs objectives lo the Glerk and the staff of Gardners SeThice5 Ltd who administer tho day to day tr8nsactions and maintsin th8 bcR)ks and 8ts1ulory iecords, and the board of the Directors, who makes decis50ns on grants and pensions. The Directors of the Trustge regujady meet lo review these activities and make decisions as to the 8trategic direct￿ft the Charity should take. and communicae this to those responsiblG for delivery. Grant Making Pollcy The constitution gives thg TrLtslee the right to gNe grants to surcessful applican18 having fuLfilled all condilior*s stipulated for such grants. Grants are awarded for a period ol two years after which they lapse and tho funds retume¢J lo the General Fund. All grants are m￿e to blind or pa￿allY sighted ndiwduals, or to other organisations or institijlions for the blind. Trust99 Induction and Training The Charity has appointed GardneI5 Truslee as its 601e trustee. G2rdner's TrusteTr has a policy to appoint Directors who are famtliar wlh Charity Law. In order to assist in the running of the Charity. documentation has been prepared setting (iut the constitut￿n, objèct5 and running of the Charity. Gardnerfs Trust For The Blind Registered number: 207233 Trustee's Report Trusle& Responslbllftigs for the Finandal Statements The Trustee is ¥espon81ble foi prepaAng the Trustee Annuai Report and the financial slalemenls in accordance wth applicable law and Unrted Kingdom AccauRling Standards (Uniied Kingdom Generally Accepted Accounting Practi￿1. The law applicabte lo charities in England and Wal05 requires the Trustee to prepare financial statements for gach financial year which give a true and fair view o* the slate of affairs of tho Chatrty and ol the incoming resources and application of resour￿ of the Charity lor tha period. In preparing these financial 8tatemerst8, the Trustee k8 requiied to.. - select suitable accoLtnting wlicies ar￿ then apply them cons*stentty.' - observe the methods and principles in the Charities SORP., - make judgements and e8lim8tes that are reasonable and prudent., - stsle whether applicable accounting slandwds and statements of recommended practice have been followed, subject to any material departures discbsed and explained in the financaal slalemenls,. and - prepare the f¥n8ncial statemonts on the going concem basis unless it inappropn8te to presume th8t the Charity will continue in operation. The Trustee is re5Fonsble for keeping proper records which disclose with reasonable accuracy the financial position ol the Charity and enable it lo ensure that the financial statements Comp￿ wth the Charities Act 2011, the Charity 1￿cOuntS and Reports) Regulati(>ns 2008 and the provisions of the Trust Deed. The Trustee is also responsible for safeguarding the Charitls as59ts and hence for taking reasonable steps for the prevention and detects.on of fraud and breaches of law and regulations. Legislation in the United Kingdom goVer￿4n9 the preparation and di58eminatlon of financial statements may differ from kgislalion in otherjurisdictions. Financlal Report and Main Achievements The Statement of Financi81 Activib'e3 shows total income of £137.765 12023 £138,322}. Expandfiure amounted to £105,564 (2023 £102,627), of whith £16,086 12023 £15,428) vrds sp&nl on governance costs and £55,592 {2023 - £56,094) on help lo poor and needy blind and partially sighted people through one-off and annual grants. The Income Fund's surplus for th¢ yeai was £32.192 t2023- £35,6951. The Charty continued to support, on average, 12 quarterly grant recipients 31 a cost of £11,870 12023 - £14,525). An annual amount, payable quarterty. is nonnalty payable to such pensioners as long as they continue to meet certain ￿lLen8 and the Charty has SUff￿1ent funds avaitable. bul there 15 no contractual f6quiremGnt for the Charity to do so. Net singlg grants lotalling £43,722 12023 - £47,569) were made during tho year to 8512023 - 831 e1￿ible applicants. Chan18ble donations totalling £2,000 12023 - £500) TrAEre made lo 4 12023 - 1) organisations durlng the year. **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 genera! 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 satlsfying 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 llfe. 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 2nd December 2024 and signed by its order. **----- Start of picture text -----**
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Dr JW Hawkins On behalf of the board of Gardner's Trustee Trustee **5** Gardnerfs Trust For The Bllnd Irnlep￿eTrt •xamlnerf$ rep(Mt > tho tNstee L4 G•rdnerf• Tn•t For The Bilnd I tsp(YL to Ihe my a(>J>wits TnAI ns by Chonty G(Al4m*8K47 14¥5llbl of Ihe 2011 A kndtrpondent •x*minee• •tst•ment I ccfflpleied my •xwinalion. l ¢onfim Ihal metenel maitern c<¥7￿ to my otknnkn kn eAfftcOon t•Ah emamlnation giviThJ me cau86 *J b91￿ th01 in gny materia res￿1.. {11 recryds ¥￿? rK¢t kept in mpeu of th• Tr￿1 80 rwed by 8rflon 130 01 th• AG¢ or 121 thè •wJnts do nul #¢¢￿￿ roeuth." or 131 the do notcomply th• ¥pl￿bIg ￿l￿1￿}ts (x3ncerning ts fom) and ￿tsrrt of ac￿unts 8et out tn tr* Ikcouth Réporta) Rdgulkn 2rJ)8 rAher r9￿r￿n￿lt Ihat Ihe aC¢C￿lI01wJ a'irue •nd fa Ftw* PkDo*•l FJM A￿Oun￿￿ Lttl 23 Sh**￿1￿} Co 2 M8rib'm• Qlwy LO￿lon E14 3QF Gardnef8 Tfust For The 8llnd Statement of Flnanclal A¢tivltle8 for the year ended 30 September 2024 2024 2024 2024 2023 Uv)iestri￿ed Unr&str￿ted Unrestri¢leLt Unrestricted In¢ome Caprtal Total Total Fund Fund Fund8 Funds Income Ifume from investments Oon*ions received Interest on deposit accounts Totsl lftcomg 129,965 750 7.041 137,756 129,965 750 7,041 137,756 129,833 5.250 3,239 138,322 Expendlture Managing lunds Chèrrtable 8ClI￿tieS (Notés 8 a¥KI 91 Governance eosts {Note 121 Total expènditure 19.4C 70.072 16,086 105.564 19.4 70,072 16,086 105.564 18,605 68,594 15,428 102,627 N•¢ surplus tor the yo•r 32.192 32.192 35,695 Transfer bet￿een funds (32.192) 32,192 Gain on investrnents (note 31 395,542 395,542 92,920 Net movoment In fut)ds 427.734 427,734 128,615 Roconciliatlon ot funds Total funds brought forward Tot41 funds Garrled fonvard 220.000 220.OCQ 3.734.658 4,162,3W2 3.954,658 4 382,392 3,826,043 3.954.658 There were no recognised gains or losses for 2023 or 2024 olher than Ih(Ise included in the stat￿n￿l of financial aclivilies. None of Ihe Chariws aclivthes were acquired or di8conlinued in the above two financial years. ## **Gardner's Trust For The Blind Registered number: Balance Sheet as at 30 September 2024** 207233 |**Registered number:**
207233
**Balance Sheet**
**as at 30 September 2024**|**Registered number:**
207233
**Balance Sheet**
**as at 30 September 2024**|||| |---|---|---|---|---| |**Fixed assets**
Investments
**Current assets**
Debtors
Cash at bank
**Creditors: amounts falling due**
**within one year**
**Net current assets**
**Net assets**
**Reserves**
Unrestricted capital fund
Unrestricted income fund
**Total reseres**
**Notes**
3
4
5
6
7
14
438
_?34,979
235,417
(19,506)||2024
£
4,166,481
215,911
4,382,392
4,162,392
220,000
4,382,392|592
204,884
205,476
(11,193)|**2023**
£
3,760,375
194,283
3,954,658
3,734,658
220,000
3,954,658| |||||| The accounts were approved by the board on 2nd December 2024 and signed on its behalf. Dr JW Hawkins On behalf of the board of Gardner's Trustee Trustee 8 Gardnerfs Trust ForThe Blind Notes to the Accounts for the year ended 30 September 2024 1 Accounting polities a) Statutory lTrfomiation Gardnei's Trust for the Blind is a charity, tjomiciled in England and Wales, re9iStralion number 207233. The registered office 18 Sufte l. Unf£ 2, Slansted Courtyard, Parsonage Road, Takeley. Essex CM22 6PU. bj Basls of Preparatiorp The financial stat6tnenls hava been prepared in accordance wlh the Charty3 trust deed, the Charities A¢t 2011 and "Accounting and Reporting by Ch8¥fties.' Statement of ReGomrrEndecl PractiGo applicable lo charities preparing their accounts ir> accordance w(Ih the Financial Reporting standard applrable In the UK and Republic of Ireland (FRS 102} leffectW8 1 January 20191" Gardner's Trust for the Blin(J meets the detinilion of 8 public benefit entity under FRS 102. Assets and llabililieg are initially recognised at historical cost or transaction valu9 unless otherwise 81ated in the relevant accounting policy notes. The Trustee considers that there are no maleriql uneertainlies about the Charty's abihty lo ci)nlinue as a going cÉ)ncern. cj Investmentlncome Investment income is credited lo the Statement of Financial Activities when the Charty h85 ntillement lo the resources and to the extent that the resotsrces wll be ￿eNed. dj Charitable Activities Grants payable are a¢rounled for on the accruals basis when approved by the Trustee. Liabilities are recognised as ￿s0￿r￿S expended as soon as there is a 18gal or conslrucl*ve obligation committing the Charty to the expenditure_ Grants payable 3re payments made to third parties in the f￿r￿eranc9 the charrtable objectives of the Charrty. The gFants are charged in the year when formaly awaided by the Charty and communicated lo the reciptent irrespective of the period covered by the grant as they are regarded by the Trustee as financial obligations. Annu81 grants Payable to beneficiaries arg on a quarterfy basis and revsewed annually by the Trustee. The 8nnual yrants are al the discretson of the Trustee and therefore are provKled as they accrue. Govgmanc& cost8 indude those costs associatgd wrth meeting the constitijtional and slalulory reqLtiremenls of the Charty and c¢)sts linked lo tho management of the Charity. Thesg Costs are albcaled against charitable 8Ctiviltes. e) InveSth￿rtts Investmen13 are slated at fair value al the balance sheet dale. The Slalement of Flnanc*al Activrtles inctudes the net gains and losses arising on revaluations and d*sposals IhroLtghoul the year. Gardner's Trust For The Blind Notes to the Accounts for the year ended 30 Sgptember 2024 4 FundA¢counting Capital Fund This represents the origin81 capital of the Charity 8nd aG¢umulate(I growth. There are no restrictions to ils use, and the Trustee tr￿ to maintain thi5 at a level which geneiale Suff￿lent income lo cover annual expend*ture. Income Fund Iformerty General Fund) This fepresenls accurnislated incorne over the years, less annual expenditure. The furA is primarily used lo rneel the annual expenditure and generate further income. The management committee consider il appropriate lo maintain an income fund to provide reserves amounting 10 approximately 2 years of aggregate anticipated expenditure Icomprislng grant and annual grant awards and administrative expenses). This lev61 lakes into account the possibilit￿$ of variances in investment income., an unex￿ted financial loss.. any exceptional ¢alls for grants.. and operational losses not covered by insurance. The level of the Income Fund is adjusted princspally through incre8sing and de￿aSIng the level of grants. Al 30th September 2024 the Income Fund of £220.000. Tepresenled 2 years of aggregate expendf(ure ending on that dale. g) Voluntarylncome Voluntary income is recogni8ed where there is entitlement, certainty or receipt and the amount can be meassjred with suffic*ent reliability. 2 Incomè from actlvilies The income fr(xn dividends and interesl which arose wholly Nvthin the United Kingdom, a￿d the surplus. are wholly &ttrlbulable to the welfare of the blind, less yovemance c051s. 3 Investments 2024 2023 Market valuation Al 1 October 2023 Addf(ions Re81ised ga*n on invèstments Unrealised gainlllossl on inv8Stmenls Disposal proceeds 3,760,375 386,374 103,847 290,695 (374.8101 3.614,211 993,468 115.364 122,4441 1940,2241 At 30 September 2024 4 166,481 3,760 375 Full details of the investments 8re given in note 17. 10 Gardnerfs Trust For The Blind Notes to the Accounts for the year ended 30 September 2024 4 Debtors 2024 2023 Other debtors 438 592 438 592 S CreditOf5: amount$ talllng due within one year 2024 2023 Sundry cradilors Grants aw8rded 4,361 15,145 5,193 8,000 19.506 11,193 6 Unrestricted copital fund 2024 2023 At I October 2023 Gain on inveslmants Transfer fromllttsl income fund 3,734,658 395,542 32,192 3,806,043 92.920 35.695 At 30 September 2024 4.162.392 3 734,658 7 Unrestricted income fund 2024 2023 Al 1 Oclobef 2023 Net surplus for the year Transfer Itoyfrom capital fund 220,000 32,192 (32,1921 220,000 35,695 135,6951 At 30 Sept8rnber 2024 220,000 220.000 8 Expendituro on charitable activltles 2024 2024 Activities Vndertake Directly Grant Glvlng Activltles Support Costs INots 101 Total Donation8 (Note 111 Grants Awarded (Note 111 Annu&l Grants Awarded 2,000 433 9,475 2,572 2,433 53,197 14,442 43.722 11.870 2,000 55,592 12,480 70,072 Gardnerfs Trust For The Blind Notes to the Aeeounts for the year ended 30 September 2024 9 Expenditure on charitsblg aGtivitses 2023 2023 AcUvlite8 Undgrtak? Djrèetly Grant Glvlng Actlvltle8 Support Costs (Note 101 Tota Donations (Note 11) Grants Awarded (Note 11) Annual Grants Award 500 106 8,814 3,080 606 50,383 17.605 41,569 14,525 500 56,094 12.000 68,594 10 Analysis of support costs 2024 2023 Secretarial Fee3 & Disbijrsemenls.. Grants The supp(Jrt costs relate to the portaon ol secreterial fegs and disbursements which relate lo the processin9 of grant applications. 11 Grants awarded 2024 2023 Ganeral Aid Grants Donations 43,722 41,569 45,722 42,069 12 Governance Costs 2024 2023 Gardner's Trustee Annual Retur Secretarial Fees & Disbursements. Governance Sundry Expenses Indemnity Insuran Independent examination fees 13 13,812 512 549 1,200 16.086 13 13,296 373 1,260 15,428 The gtsvern3n￿ costs raiag to the portion of sectelerial fees and disbursement5 which rdate to all matters other than processin9 of grant applications, and all other adm5nistralive expenses. 13 Trustee5' remuneration and expens8s The Charky has an Officerts, In3urance PoliGyp on behalf of the Directors of the Truste&, in respea of any damages and leual expenses that may arise as a result of Iheir actions during their periods of office. The premium paid was £54912023 - £486>. There were no staff other than the Trustee. The Tiuslee received no remuneration dLtring the year (202> £ nill. 12 Gardnevs Trust For The Blind Notes to the Accounts for the yoar ended 30 September 2024 14 Anatysis of net assots botwogn funds 2024 2024 2024 2023 Capital Account Income Account Total Total Inve8tmenls 4,166,481 4,166.481 3,760,375 Current Assets 14,089) 239,506 235,417 205,476 Current Liabilities 119,5061 119,5061 111,193} Total 4,162,352 220,000 4,382,392 3.954,658 IS Conting8nt Ilability Unclaimed Balance donatios)s of £7,223 and £379 were recosved Trspectively from LDJ Soliotors and Brighouse Soliutors client accounts lin the y8ars ended 30th September 2014 and 30th September 2017), whth may hav& to be retsjmed rf thoir clients make 8 cjaim for the saK& surns. 16 Related party transactions A donation of £150 was received from a director of thè Truslefj during the year12023- £nil}. The board is satisfied that the director did not receive any ban&tit as a re8uJt of the clonation. 13 Gardner's Trust For Thè Blind Notes to the Accounts for the year ended 30 September 2024 17 Investments 2024 2024 2023 C¢)sl BIF￿ Addiuons At G05t Dlsposats C0￿cIFWd At Coot Market Yalue ishares S&P Sots Nav 29,447 19,976 5.485 59,423 233,805 175.831 UK Govèromprt 0.126% fiL 0312Q26 60.000 80,862 80.862 89,330 85,76 Mefcantlle knvestmont TST Pk Ord. 2Sp 70.000 73,264 73,264 170,975 136.710 Colymbia ThT8adneed10 Investsnant LIK Equity IncoTh Unils 106,814 137.323 137.323 228.78S 207,326 Blackio¢k A18nagets Ltd European Dynamlc Incom• Unlts 115.000 50.0001 65.000 115,746 150,3241 65,422 194.108 296.850 A¥tsEni5 Fund M3na9ors Instituional In¢orne Units 178,308 1e1.229 (3111 160.918 206,746 181,231 E￿pirI£ Student PYt>p8ty thd1p 64.000 65,337 65,337 62,336 57,376 Ish￿&¥ LF PIC Cor¢ UK Gilts JnGtEtirtFonal Income Un 6.000 79.515 79,515 62.423 59.475 Maitland IHstI Sv¢ Ml fwontyfour Am dyttamf¢ 600 18001 87,312 54,489 167,3121 Fidelity Special Valué Ord GBPO.05p 75,000 145,501 145.501 236,438 204,563 IDtem41ional Publtc Partnèrship 50,000 6.500 56.SOC> 77,273 62,000 7.904 85,277 72.433 S¢hroder Investment Managemont 300 109,337 1Q3.337 136,571 1 IB,744 CaTred fcrward 1.151246 27.880 1117.9471 1,062.179 1.693.95D 1,640,361 14 Gardnerfs Trust For The Bllnd Note5 to the Accounts for Ihe year ended 30 September 2024 2024 2024 2023 Cost BPFwtt Addli1￿$ Atcost Dlsposal$ ¢ost GIFwd Atcost Market Yalue Markot vttlue Brwht fotW8ry1 1.152.246 27.880 1117,94n 1,062.179 1,693,950 1,640,161 Diverne In¢omÈ Tw Ordn GBPQ.00 125,000 106,646 106,648 115.125 100,875 Frankltn Tompvlm UK Smaltor Coo W Acc Nav 5.601 38.750 81Q 39.560 45,938 28,224 Rlum Royal Lolldon Sustainable dws Trust 40,000 118.084 {2051 117,879 149,223 132,867 Henderson EtKo Foc ¢)rd GBPO.50 40,000 52,ns 52,721 73,100 62,800 S¢hrodorUn(tT8t US Srnaller Co¥ Z In4 35,OIMJ 50.760 50,780 65,625 59.360 >Jlnety One Fd Managers Global Environfn8ntK GBP 52.495 70,645 150.0001 152.495} RIT Cap Partnero Old GBP1 5.000 93,T01 93,701 91,6QO 96.450 Schroder Real Estate OFdlnarty Sh•r45 NPV IS5,000 42.796 42,796 70,065 55.924 Sd¢l Energy Efflctent OTd GBPO.Ot 100.000 111.577 111.577 63,Q50 67,250 The R8n•wabl•6 Inf Ord NPV 70.832 85.192 85.192 73.736 75,578 ¥Varehou¥e Reit PLC Ord GBPO.01 70,000 84,700 84.700 57,435 Oaktr80 ILuxl Funds Globftl High Yield Bond 56.520 56,520 52.746 Roydl L4)ndon Bond Fund 6S.000 93.554 79,365 73,905 lomsru 2.139.742 28,6BO 1170.6471 1.997.785 2.835,088 2,580,LD Gardn8rfs Trusf For The Blind Notes to the Accounts for the year ended 30 Septembor 2024 2024 2024 2023 CGst BIFwd Adttitlons AtCoBt I)￿pOsI1$ Cosi At Cost Market valu• Markef val Btowhl for•w4rd 2,139,742 28,690 1170,647) 1,997 78S 2,￿s.088 2.580,220 Tw&ntylour Global Inv Corptsrats Bonds 1.000 I￿2,794 102.794 86.880 79.920 Aviv4 InY15 Sel Fd Al U¥ E(rty In¢ 80.000 158,081 158.081 IT3.312 148,632 Hlpgn0818 Song8 Fund 50,000 150.Crt)01 58.401 40,150 158,4011 Valu-Tr8c Iny Funds Protsan Gap Eld8r 135,000 125.141 125,141 133.439 127,489 Ltfo Sctence Rèit 90,000 60,391 80.391 3S.010 82.820 Primary Health Prop 45,000 41,$01 41,601 45,878 41,929 Hlcl InlF8structttr8 52,000 4,000 58,OOD 65.391 64,532 4.854 70.243 73.864 UK IGovernmEnt ofj 0.125Y. Bonds 20,0 120,0001 20.000 120.0001 19.629 19.691 119,6291 19,885 119,8851 Muzinlch & Co Global 420 38.329 186 38.515 40.857 37,943 Moryan StAnl8y If Emergkng M8rk¢ts 13,1 108.221 108.221 114,625 107,289 LF Lindsèll Tr UK 46,000 18.000 64.000 158.617 154.813 81,331 11,009} 218.939 220,563 Carneo hriffjtd 3,078.338 114.948 1269.5711 2.gZ%.719 3.559,516 3.46S.428 16 Gardnorfs Trust For Th6 Blind Notes to the Aceounts for tho year ondad 30 September 2024 2024 2024 2023 CostBIFwd AddIt￿nS At Co¥t Di$posals ¢o$t CIFwd At¢oJt MavlKet valu# Market V31uo Broloht tOPN8rd 3,076.338 114,ts46 1269.$711 2.921,713 3.559.516 3,465.428 BA B&u121 G¢)odman 12,700 158,623 158.623 187.833 160.909 Juprter UT Managors 120.000 133,200 11,3921 131,808 144.900 134.028 Gem¢ap InveBtm¢nt Ahfm StruGtured Products 50,OQO 59.061 59.081 60.990 &G IDvestwEnt Fund M&G Japan Sterling 45,000 63.113 83,113 $4,170 Inv06co EurdPÈan Itsv06CO 73,000 149.234 149.234 149,072 3.368,161 386.374 1270,9831 3.483.572 4.t66.481 3,760,385 Gardner's Trust For The Blind Notes trj the Accounts for the year ended 30 September 2024 18 ComparatEve statsmgnt of financlal actlvities 2023 2023 2023 LlnrgslriGtsd Unrestricted Unieslricled Income Capital Total Fund Fund Funds Income Investment income Interest on deposit accounts 135.083 3,239 135,083 3,239 Total income 138.322 738,322 Expenditure Man￿1n5 funds Charitable aclivtrtes (Notes 9} Governance costs INole 121 18,605 68,094 15,928 18,605 68,094 15,928 Total expondtture 102,627 102,827 Net surplus for the year 35,695 Transfer betw&en funds 135,6951 35,695 Gain on investments Inule 3) 92,920 92,920 Net movement In funds 128,615 128,615 Reconciliatton of fur￿5 Total funds brought forward Total funds carriÈd forward 220,000 220,000 3,806,043 3 734,658 3.826,043 3,954.658 There were no recognised gains or bsses for 2024 and 2023 olherthan those included in the Stat￿}ent of financial a¢liMties. Non8 ol the Gharilvs aclivilies wore acqtsired or discontinued in the &bove financ*￿ ye*. 18 Gardnetrs Trust ForThe Blind ststement of Flnancial Activities for the year ended 30 September 2024 This schedule does ool fonn part otlho slalul(ry acLY)unt 2024 2024 2024 2023 Unrestricted Unrestricted Unrestr*cled Unrestricted General Capital Total Total F￿nd Fund Funds Funds Incoming resources Income from investments Donations received Interest and dgposit accounts 129,985 750 7,047 129,965 750 7,041 129,833 5,250 3,239 Total incomlng reSou￿e8 137,756 137.758 138.322 Resources expended Managing I￿ndS Gardnerfs Trustee Annual Retsjm Secrelaiial Fees & Disbursements", Grants Secret8rial Fees & Disbursements.. Governance Sundry Expenses Indemnty Insurance Auditllndependenl Exaffiinalion Fees Donations Grants Awarded (Not8 11) Annual Grants Awarded 19.406 19,406 13 18,605 13 12,480 72,480 12,000 13,812 512 549 1,200 13,812 512 549 1,200 2,000 43,722 11,870 13,296 373 486 1,260 500 41.569 14,525 43.722 11.870 Total resources expanded 105.564 105,564 102,627 Net incoming resouices ft)r the year 32,192 32.192 35,695 Transter botween funds 132,192} 32,192 Unrealised gain on revaluation of Inveslmènls Realised galn on revalL*ation o* investment8 291.439 291,439 (22,4441 104,103 104.103 115.364 Nat movement in funds 427,734 427,734 128,6#5 Total funds brought forward Total funds carrled forward 220,000 220,000 3,734,658 4.162,392 3,954,858 4.382 392 3,826,043 3,954.658 There were no recogni8ed gains or Ios585 for 2023 012024 other than those inclLthd in the slatemonl of financial aCtiV￿e3. None of the Charty's actDiities were acquired or diseonlinued in the above two financial years. 19