## **THE GIBBS CHARITABLE TRUST FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31[st] MARCH 2024** ## **Charity Number 207997** **FINANCIAL STATEMENTS YEAR ENDED 31[st] MARCH 202** ## **THE GIBBS CHARITABLE TRUST** |**4**|| |---|---| |**CONTENTS**|**PAGE**| |Reference and Administrative Information|3| |Trustees Annual Report|4 - 7| |Independent Examiner’s Report|8| |Statement of Financial Activities|9| |Balance Sheet|10| |Notes to the Financial Statements|11 - 16| ## **REFERENCE AND ADMINISTRATIVE INFROMATION YEAR ENDED 31[st] MARCH 2024** ## **Status** The Gibbs Charitable Trust is an unincorporated charity and has been registered with the Charity Commission on 22 September 1962 (registration number 207997). ## **Trustees** John N Gibbs (Chair) James M Gibbs (Secretary) Andrew Gibbs (Treasurer) Celia Gibbs ## **THE GIBBS CHARITABLE TRUST** Elizabeth Gibbs Jessica Gibbs James D Gibbs John E Gibbs Juliet R Gibbs Patience Gibbs Rebecca Gibbs Timothy Gibbs William Gibbs ## **Registered Address** 8 Victoria Square Bristol BS8 4ET ## **Bankers** Lloyds Bank 58 Queens Road Clifton Bristol BS8 1RQ ## **Independent Examiner** Joshua Kingston BSc, ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR 3 **THE GIBBS CHARITABLE TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31[st] MARCH 2024** The trustees present their report and the unaudited financial statements for the year ended 31 March 2024. ## **Structure, Governance and Management** The Gibbs Charitable Trust is an unincorporated charity registered with the Charity Commission on 22 September 2022 and governed by its trust deed dated 21[st] October 1946, amended 12[th] May 1961. ## **Objectives** The Trust Deeds provide for officers as indicated above and for the Trustees to co-opt others to join them. ## **Public benefit** In shaping the objectives for the year and planning activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. They regard the aims of the Trust as being to support three main areas of work all of which confer public benefit. These are innovative undertakings by Methodist churches and organisations, other Christian Causes, and a wider category in the fields of the creative arts, education, social and international concern. The pattern is for the Trustees to meet three times during the financial year: around Easter, in late summer, and after Christmas. ## **Activities, achievements and performance** The Trust’s net assets, which stood at **£3,639,772** on 31 March 2024, are principally in COIF Charities Ethical Investment Fund Income Shares held by the CCLA. The Trustees are able to expend capital and disperse more than the dividend and bank interest income. During the 2023-2024 financial year, income of **£103,987** was received. The Gibbs Trust met three times and gave away a total of **£201,500** as grants. Of this, £6,500 went to Methodist Churches involved in refurbishment or redevelopment schemes (2023 £8,500); £19,000 went to other Methodist Church projects (2023 £3,000). This included £10,000 to Yorkshire West Methodist District in connection with an exhibition of art on New Testament themes. £5,000 went to other Christian causes (2023 £10,000). £29,500 was given to applicants involved with Art, Drama and Music projects (2023 £25,000). Initiatives in Wales that were supported in this category included Brecon Baroque (£5,000), Brecon Festival Ballet (£5,000) and the Welsh National Opera (£6,000). In the category designated ‘Social Concern, Educational and Environmental, eleven grants were made totalling £19,000 (2023 £25,500). These were all for between £1,000 and £3,000. Most were in Wales. In the international area grants totalling £122,500 were made (2023 £92,000). Major recipients 4 **THE GIBBS CHARITABLE TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31[st] MARCH 2024** were Christian Aid (£15,000), Médecins Sans Frontières (£30,000), Friends of Nixon Memorial Hospital (£6,000) and Tree Aid (£16,000). The Trustees only occasionally claim expenses for work carried out or for journeys made in connection with the Trust, but they recognise that contributions towards these costs, and towards the costs involved in conducting correspondence, etc., may be made. In 2023-2024 administrative costs amounted to £3,116 (2022-23: £2,243). This figure included accountancy services £2,100, subscription to the Association of Charitable Foundations £518, and website services £378. This sum included monthly sums paid to Aline Digital Co by trustee James D Gibbs who was then reimbursed by the Trust. ## **Policies** On 19 September 2015, the trustees agreed the following policies and these remain in place: - _The ‘endowment’ is invested with the intention of broadly achieving a balance between long term growth in its capital value and maintaining a reasonable level of regular grant making. At times of moderate to high inflation, the capital value may well fall in real terms, and such loss of value may not be recuperated even in sustained periods of low inflation._ - _Periodically, for example after a period of strong market appreciation, the Trustees may decide to realise a portion of the capital._ - _The Trustees’ general policy is to regard the Trust capital as largely, but not rigorously, permanent, and this has led to small scale disposals on a number of occasions in the past. There have been no recent additions. In the event of gifts to the Trust, the gift may be added to either income or capital depending on the donor’s intention._ ## _**Income Reserve**_ _The Charity benefits from a regular and reasonably assured income from its ‘endowment’. Its operating expenses are very low and carefully managed. There are no paid employees, office premises or other on-going liabilities. There is accordingly little need for an income reserve other than to ensure that grants made at the Trustee’s periodic meetings can be honoured without undue delay. This is normally achieved by allowing the income balance at the bank to accumulate between meetings. Under no circumstance should the balance of the account at Lloyds drop below £1,000._ Should the income balance exceed £50,000 for a continuous period of more than six months, the Trustees would take steps to reduce it, either by increasing the grants made or by adding 5 **THE GIBBS CHARITABLE TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31[st] MARCH 2024** it to the Capital Reserve (in line with the intention of preserving a balance between growth in capital value and a reasonable level of grant making). The Trust has gone over to on-line application with a process that is described on the Trust’s website. The Trust makes grants only to UK registered charities and does not consider applications from individuals. Since 2020, the Trust has made use of Zoom or hybrid meetings. ## **Financial review** At 31[st] March 2024, the Charity’s total funds amounted to £3,639,772 (2023: £3,418,945). The value of the Trust’s investments stood at £3,593,327 (2023: £3,271,871). The Trustees normally aim to hold at least £1,000 in their Lloyds current account to cover any day-today expenses, and £50,000 in their COIF Charities Income reserve to cover any dips in the market. Any excess monies will be spent on grants or added to their investments Capital Reserve. The Charity’s free reserves at 31[st] March 2024 are £46,445 (2023: £41,416) which meets the desired level of reserves. ## **Statement of trustees’ responsibilities** The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees 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 income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; 6 **THE GIBBS CHARITABLE TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31[st] MARCH 2024** - state whether applicable UK Accounting Standards 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 business. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 31 August 2024 Signed on behalf of the board on …………… ……………. ….. ……………………………. ## John N Gibbs Chair 7 **THE GIBBS CHARITABLE TRUST** ## **INDEPENDENT EXAMINER’S REPORT** ## **YEAR ENDED 31[st] MARCH 2024** ## **Independent examiner’s report to the trustees of The Gibbs Charitable Trust.** I report to the trustees on my examination of the accounts of The Gibbs Charitable Trust (the Charity) for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - accounting records were not kept in respect of the Charity as required by section 130 of the Act; or - the accounts do not accord with those records; or - the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Joshua Kingston BSc, ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR 8 THE GIBBS CHARITABLE TRUST Date.. .31 August 2024 STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 ## THE GIBBS CHARITABLE TRUST |Income from:
Investments Total
income
Expenditure on:
Charitable activities
Total expenditure
Unrestricted
Funds
Note
£
The
charity 103,987
Endowment
Funds
£
-
-
-
-
321,456
321,456
(105,000)
Total Funds
2024
£
103,987
103,987
204,616
204,616
321,456
220,827
-
Total Funds
2023
£
101,825
101,825
166,243
166,243
(171,691)
(236,109)
-
2 has no
3
7
5
103,987
204,616
204,616
-
(100,629)
105,000
Net gains / (losses) on investments
Net income / (expenditure)
Net movement in funds
Total funds at start of year
Total funds at end of year
above. 4,371
All of 41,416
10
the
45,787
10
216,456
3,377,529
3,593,985
220,827
3,418,945
3,639,772
(236,109)
3,655,054
3,418,945
Transfers between funds
10 recognised gains or loss
es other than the results for the yea
r~~as set out~~
activities of the charity are classed as continuing.|Endowment
Funds
£
-
-
-
-
321,456
321,456
(105,000)
Total Funds
2024
£
103,987
103,987
204,616
204,616
321,456
220,827
-
216,456
3,377,529
3,593,985
220,827
3,418,945
3,639,772
s other than the results for the yea
r|Total Funds
2023
£
101,825
101,825
166,243
166,243
(171,691)
(236,109)
-
(236,109)
3,655,054
3,418,945
~~as set out~~| |---|---|---| See note 6 for fund-accounting comparative figures. The notes on pages 11 to 16 form part of these financial statements. ## BALANCE SHEET 1 0 ## THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 AS AT 31 MARCH 2024 |0
THE GIBBS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
AS AT 31 MARCH 2024||||| |---|---|---|---|---| |Fixed assets
Note
Investments
7
Current assets
Debtors
8
Cash at bank and in hand
Liabilities
Creditors: amounts falling due
within one year
9
Net current assets
Net assets
Funds
Endowment
funds
Unrestricted funds
11
General funds
11|2024
£
3,593,327
3,593,327
400
65,643
66,043
(19,598)
46,445
3,639,772
3,593,985
45,787
3,639,772||2023
£
3,271,871|| ||||
3,271,871
385
148,669|| ||||
149,054
(1,980)|| ||||147,074|| ||||3,418,945|| ||||3,377,529
41,416
3,418,945|| |||||| |||||| These financial statements were approved by the trustees on …................................ and are signed on their behalf[by:] 31 August 2024 ….............................................. John Gibbs - Trustee 11 ## THE GIBBS CHARITABLE TRUST The notes on pages 11 to 16 form part of these financial statements. ## 1 Accounting policies ## Basis of preparation The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The charity is a public benefit entity as defined under FRS102. The Trustees have considered the financial position of the organisation and believe that it is currently a going concern. ## Income Income from donations is included income when these are receivable, except as follows: I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods; II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-condition have been met. Legacies are included on a receivable basis where the charity is entitled to the income, it can be measured reliably and receipt is probable. Where legacies have been notified to the charity, or the charity is aware of the granting probate, and the criteria for income recognition have not been met, then the legacy is not included in income but is treated as a contingent asset and disclosed if material. Investment income is accounted for as received. The trustees are satisfied that this is not materially different from accounting for investment income on an accruals basis. Expenditure Grants awarded are allocated to charitable activities. Grants awarded are treated as expenditure and a liability in the accounts as soon as they become legal or constructive obligations. In the case of multi-year grant awards, the funding for all years is immediately recognised unless there are conditions which need to be met by the recipient to enable the release of subsequent years’ funding. Expenditure is recognised on an accruals basis in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs. ## Fixed asset investments Fixed asset investments in quoted shares, traded bonds, investment properties are shown at their market value at the balance sheet date at the end of the financial period. The Statement of Financial Activities includes net gains and losses arising on revaluations and disposals throughout the year. ## Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 1 Accounting policies (continued) ## Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors Creditors and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable of a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted and the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. Fund accounting Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees. Expendable Endowment funds can be distinguishable from income funds in that there is no actual requirement to spend or apply the capital. The trustees exercise the power to spend or apply the capital of an expendable endowment. Income generated from endowment funds held for investment are spent on furthering the charitable objects of the charity. ## 2 Income from: investments |Interest received
Dividends received|Unrestricted
Endowment
Funds
Funds
£
£
4,105
-
99,882
-
103,987
-|Total Funds
2024
£
4,105
99,882
103,987|Total Funds
2023
£
1,943
99,882
101,825| |---|---|---|---| Income from investments was unrestricted in the prior year. 3 Expenditure on: charitable activities |xpenditure on: charitable activities||| |---|---|---| |Grants (note 4)
Subscriptions costs
Office costs
Website costs
Governance costs
Independent examination
Accounts preparation|Unrestricted
Endowment
Total Funds
Funds
Funds
2024
£
£
£
201,500
-
201,500
518
-
518
120
-
120
378
-
378
900
-
900
1,200
-
1,200
204,616
-|Total Funds
2023
£
164,000
128
61
74
840
1,140
166,243| |||| 14 THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 |204,616
Further explanation of the nature and purpose of each fund is included in not
Expenditure on charitable activities was unrestricted in theprior
year.
4 Analysis of grants
The total grants awarded to institutions during the year was as follows:
Methodist Churches, Circuits and Districts
Ashbourne Methodist Church
Bradley Methodist Church
Grove Street Methodist Church
Hall Green Community Church
Mullion Methodist Church
The Methodist Church, Penarth
Shefford Methodist Church
Other Methodist Initiatives
Bristol Methodist Centre (now Turnaround)
Yorkshire West Methodist District
Victoria Methodist Church, Bristol
The New Room, Bristol
Weardale Museum
West London Mission
Other Christian
Convivium, Brecon Cathedral
Faith in Families
Leaders of Worship and Preachers Trust
Llangynidr Church
St Illtud's Church
The KEYS Project
Social, educational and environmental need
Abergavenny/ Homemakers Community Recycling
Abergorki Community Hall
Bristol Refugee Rights
Carers Trust
Citizens Cymru
Crisis Wales
Engineering Education Scheme Wales|204,616
Further explanation of the nature and purpose of each fund is included in not
Expenditure on charitable activities was unrestricted in theprior
year.
4 Analysis of grants
The total grants awarded to institutions during the year was as follows:
Methodist Churches, Circuits and Districts
Ashbourne Methodist Church
Bradley Methodist Church
Grove Street Methodist Church
Hall Green Community Church
Mullion Methodist Church
The Methodist Church, Penarth
Shefford Methodist Church
Other Methodist Initiatives
Bristol Methodist Centre (now Turnaround)
Yorkshire West Methodist District
Victoria Methodist Church, Bristol
The New Room, Bristol
Weardale Museum
West London Mission
Other Christian
Convivium, Brecon Cathedral
Faith in Families
Leaders of Worship and Preachers Trust
Llangynidr Church
St Illtud's Church
The KEYS Project
Social, educational and environmental need
Abergavenny/ Homemakers Community Recycling
Abergorki Community Hall
Bristol Refugee Rights
Carers Trust
Citizens Cymru
Crisis Wales
Engineering Education Scheme Wales|es of the financial|s|2024
£
tatements.
1,000
3,000
-
-
-
1,500
1,000
6,500
2,000
10,000
4,000
-
-
3,000
19,000
-
1,000
3,000
-
-
1,000
5,000
1,000
3,000
2,000
-
-
1,000
2,000|2023
£
-
-
1,000
1,000
4,000
2,500
-|2023
£
-
-
1,000
1,000
4,000
2,500
-| |---|---|---|---|---|---|---| |||||||| |||||||| |||||||| ||||||




|8,500
-
-
-
2,000
1,000
-| ||||||






|3,000
1,000
-
-
1,000
8,000
-| |||||||10,000
-
-
-
1,000
5,000
-
-| |FABRIC Foundation
Friends and Neighbours Charity
For Refugees
KEYS Project||||1,000
1,000
-
-|


|-
-
3,000
2,000| 15 THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 |One25
Prisoners Educational Trust
Sixty-One
Smallpiece Trust
Spires Centre
St David's Hospice Care
Street Doctors
Techniquest
Unseen
4
Analysis of grants (continued)
Arts, Drama and Music
Acta Community Theatre
Aloud Charity
Art and Christianity
Brecon Baroque Festival
Brecon Festival Ballet
Buxton International Festival
Changing Tunes
Crickhowell Choral Society
No Fit State Circus
Shakespeare Link, Willow Theatre
Soap Soup
South Powys Youth Music (SPYM)
The Makers Guild of Wales
Trinity Community Arts
Welsh National Opera
International
Action Against Poverty (APT)
Canon Collins Trust
Christian Aid
EMMS International 19/01* Malawi
Find Your Feet
Five Talents
ForRefugees for Roots project in France
Habitat for Humanity GB
Heshima
Hope and Homes
Interburns
InterCare
ITSA Digital Trust
IT Schools Africa
Kids Alive International
Kipawa Trust
Lorna Young Foundation
Malawi Pump Aid
Medair||2024
£
-
2,000
2,000
-
-
1,000
-
3,000
-

19,000
3,000
1,000
2,000
5,000
5,000
-
-
1,000
2,000
1,500
1,000
-
2,000
-
6,000
29,500
-
5,000
15,000
2,000
2,000
2,000
-
3,000
1,000
2,000
2,000
2,000
2,000
-
2,000
2,000
2,000
2,500
2,000|2023
£
2,000
2,500
-
2,500
1,000
1,000
2,000
1,500
2,000
25,500
-
1,000
-
5,000
2,000
2,000
1,500
1,000
-
2,000
-
2,500
-
2,000
6,000
25,000
1,500
2,000
16,000
-
-
2,000
2,000
-
-
-
-
1,000
-
2,000
-
-
-
-
2,000| |---|---|---|---| ||||| 16 NOTES TO THE FINANCIAL STATEMENTS ## THE GIBBS CHARITABLE TRUST YEAR ENDED 31 MARCH 2024 |Médecins Sans Frontières
Friends of Nixon Memorial Hospital
On Call Africa
Oxfam
Practical Action
Pryga
Pump Aid
Sand Dams World Wide
Tea Leaf Trust
Tehila Trust
TfSR Tools for Self Reliance
Tiyeni
Tree Aid
WasteAid
World Bicycle Relief UK
WWF
Total grants
5 Net income/ expenditure for the year
Independent examiner's fee
- Accounts preparation
- Independent examination
- Other services
Reimbursement of 2 Trustees' expenses (2023: 1)|














|2024
£
30,000
6,000
3,000
2,000
8,000
-
-
-
1,000
2,000
-
-
16,000
3,000
3,000
-||2023
£
28,000
6,000
-
-
8,000
2,000
1,500
2,000
-
-
4,000
1,000
8,000
-
-
3,000
92,000| |---|---|---|---|---| |||122,500||| |||201,500||164,000| |||960
900
240
498||900
840
240
277| |Income from:
Investment income
Total income
Expenditure on:
Charitable activities
Total expenditure
Unrestricted
Funds
£
101,825
101,825
166,243|Endowment
Funds
£
-
Total Funds
2023
£
101,825
101,825
166,243
166,243| |---|---| 17 THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 |166,243
-
(64,418)
100,000
35,582
5,834
Net gains / (losses) on investments
Net income / (expenditure)
Transfers between funds
Net movement in funds
Total funds at start of year
Total funds at end of year
41,416
7 Fixed asset investments
2024
2023
At 1 April 2023
Net gain / (loss) on revaluation
At 31 March 2024
8 Debtors
2024
2023
Prepayments and accrued income
9 Creditors
Grant Commitments 17,000 - Accruals 2,598 1,980|2024
£
-
-
-
(171,691)
(171,691)
(100,000)
(271,691)
3,649,220
3,377,529
£
3,271,871
321,456

3,593,327
£
400
400
2024
£|2023
£
(171,691)
(236,109)
-
(236,109)
3,655,054
3,418,945
£
3,443,562
(171,691)
3,271,871| |---|---|---| |||
£
385
385| |||2023
£| 18 THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 |2024
£
19,598||2023
£
1,980| |---|---|---| 6 Prior year fund comparatives for the Statement of Financial Activities 19 ## THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 |Endowment funds
Capital fund
Unrestricted funds
General funds
Total funds
Prior year comparative
Endowment funds
Capital fund
Unrestricted funds
General funds
Total funds
At
1 April
2023
£
3,377,529
41,416
3,418,945
At
1 April
2022
£
3,649,220
5,834
3,655,054
10 Movement between funds
Capital fund
11 Analysis of net assets between funds
Fixed asset investments
Other net current assets
Prior year comparative
Fixed asset investments
Other net current assets|At
1 April
2023
£
3,377,529
41,416
3,418,945
At
1 April
2022
£
3,649,220
5,834
3,655,054|Income
£
-
103,987
103,987
Income
£
-
101,825
101,825|Expenditure Gains & losses
£
£
-
321,456
(204,616)
-
(204,616)
321,456
Expenditure Gains & losses
£
£
-
(171,691)
(166,243)
-
(166,243)
(171,691)|Expenditure Gains & losses
£
£
-
321,456
(204,616)
-
(204,616)
321,456
Expenditure Gains & losses
£
£
-
(171,691)
(166,243)
-
(166,243)
(171,691)|
|Transfers
£
(105,000)
105,000
-
Transfers
£
(100,000)
100,000
-||At
31 March
2024
£
3,593,985
45,787
3,639,772
At
31 March
2023
£
3,377,529
41,416
3,418,945| |---|---|---|---|---|---|---|---|---| |||||||||| |||||Unrestricted
Funds
£
-
45,787
45,787
Unrestricted
Funds
£
-
41,416
41,416||Endowment
Funds
£
3,593,327
658
3,593,985
Endowment
Funds
£
3,271,871
105,658
3,377,529||Total Funds
2024
£
3,593,327
46,445
3,639,772
Total Funds
2023
£
3,271,871
147,074
3,418,945| Capital fund is an expendable endowment fund which is mainly represented by the value of investments held by the charity as at the end of the financial year as well as some cash funds. Income generated from the investments is utilised to further the charity's charitable objective. THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 18 12 Related party transactions There are no related party transactions in the year (2023: £nil) apart from those already disclosed throughout the report. THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 19