THE GIBBS CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2025 Charlty Number 207997 THE GIBBS CHARITABLE TRUST FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2025 CONTENTS PAGE Reference and Administrative Information Trustees Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheet 10 Notes lo the Financial Statements THE GIBBS CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE INFROMATION YEAR ENDED 31st MARCH 2025 Status The Gibbs Charitable Trust is an unincorw)rated Charity and has been registered wilh the Charity Commission on 22 September 1962 (registration number 207997). Trustoos John N Gibbs {Chair) James M Gibbs {Secretary) Andrew Gibbs (Treasurer) Celia Gibbs Elizabeth Gibbs Jessica Gibbs James D Gibbs John E Gibbs Juliet R Gibbs Patience Gibbs Rebecca Gibbs Timothy Gibbs Willlam Gibbs RegSsterod Addres8 8 Victoria Square Bristol BS8 4ET Bankers Lloyds Bank 58 Queens Road Bristol BS8 1 RQ Independent Examlner Joshua Kingston Bsc, FCA Burton Sweet Limtted The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1 UR THE GIBBS CHARITABLE TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31st MARCH 2025 The trustees present their report and the unaudtted financial statements for the year ended 31 March 2025. Structure. Governance and Management The Gibbs Charitable Trust is an unincorForated charity registered with the Charity Commission on 22 September 1962 and govemed by ils trust deed dated 21st October 1946, amended 12" May 1961. Objectives The Trust Deeds provide for officers as indicated aFy)ve and for the Trustees lo co-opt others lo join them. PublSc benefit In shaping the objectives for the year and planning activttses, the trustèes have considerèd the Charity Commission's guidance on public benefit, including the guidance 'public benefit.. running a charity IPB2)'. 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 concem. The patlern is for the Trustees to meet three times during the financial year: around Easler. in lale summer, and after Christmas. Actlvltles, achlevements and perfomiance The Trust's nel assets, which stcK#J at £3,389,036 on 31 March 2025, are principally in COIF Charities Ethical Investment Fund Income Shares held by the CCLA. The Truslees are able lo expend capital and disperse more than the dividend and bank interest income. During the 2024-2025 financial year, income of £101,756 was received. The Gibbs Trust met three times and gave away a total of £200,500 as grants. Of this, £4.000 went lo Methodist Churches involved in refurbishment or redevelopment schemes12024 £6,500),. £12,000 went lo other Melhodisl Church projects12024 £19.000). This included £10,000 to Yorkshire West Methodist District in connection with an exhibition of art on New Teslamenl themes. £7,000 went to other Christian causes12024 £5,OtXI). £35,000 was given lo applicants involved with Art, Drama and Music projecls12023 £29.500}. Inilialives in Wales that were supported in this category included Brecon Baroque (£5.0001. Brecon Festival Ballet (£2,000) and the Welsh National Opera1£6,000). In the category designated 'Social Concern. Educational and Environmenlal. iwelve granls were made lolalling £30,50012024 £19,000). These were all for between £1,000 and £3,000. Most were in Wales. In the international area grants totalling £112.000 were made12024 £122,500}. Major recipients were Christian Aid1£15,000), Médecins Sans Frontières1£15,000), Friends of Nixon Memorial Hospit81 {£6.000) and Practical Action (£8.000). THE GIBBS CHARITABLE TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31st MARCH 2025 The Trustees only occasionally claim expenses for work carried out or for jourT)eys made in connection with the Trust. but they recognise that contributions towards these costs, and towards the costs involved in conducting correspondence. elc.. may be made. In 2024-2025 administrative costs amounted to £2,801 (2023-24.. £3.116)- This figure included accountancy services £1.986. subscription to the Association of Charitable Foundations £533. and website services £162. This sum included monthly sums paid to ine 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 tem? growth in its C8pif81 v81ue 8nd m8int8ining 8 re8son8ble level of regular grant making. At times of moderat8 to high inflalion, th8 capital value may well fall in re81 tem?s. and such loss of value may not be recuperated even in sustained periods of low inf18tion. Periodically, for example after a period of stmng mat*et appreciation. thg Trustees may decide to realise a portion of the capital. The Tnjstees, gener81 policy is to regard the Trust capi1818s18rgely, but not rigorously, permanent, and this has led to small scale disposals on a numb8r of OCC8sions in the p8St. There h8ve been no recent additions. In the event of gifts to the Tnjst, the gift m8y be added to either income or c8PIt81 depending on the donor s intention. Income Reserve The Ch8ri1y benefits from 8 regular 8nd re8son8bly assured income from its 'endowmenl'. Its operating expenses are very low and carefully managed. Ther8 aTr no paid employ&es, office premises or other on-going liabilities. The￿ is accordingly I￿le need for an income reserv8 other than lo ensure that grants made al the Trustee s pe170dic meetings can be honoured without undue delay. This is nom7ally achieved by allowing the income balance at thg bank to accumulate between meetings. Under no urcumslance should the balance of the account at Lloyds drop below £1,000. Should the income balance exceed £50,000 for a conlinuous period of moTr than six months, the Trustees would lake steps to reduce it. either by InC￿asing the grants made or by adding il lo 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 lo 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. Ihe Trust has made use of Zoom or hybrid meetings. THE GIBBS CHARITABLE TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31st MARCH 2025 Financial review At 31" March 2025, the Charity's total funds amounted to £3,389,03612024.' £3,639,772). The value of the Trust's investments slood at £3.344.136 (2024: £3.593.327). The Trustees normally aim lo hold at least £1,000 in their Lloyds current account lo cover any day-today expenses, and £50.000 in their COIF Charities Income reserve lo cover any dips in the market. Any excess monies will be spent on grants or added lo their investments Capital Reserve. The Charity's free reserves at 31 $1 March 2025 are £44.242 (2024.. £45.7871 which meets the desired level of reserves. THE GIBBS CHARITABLE TRUST TRUSTEES ANNUAL REPORT YEAR ENDED 31st MARCH 2025 Statement of trustee$. responslbllltles The trustees are responsible for preparing the Trustees. Report and the financial slalements 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 prepa￿ 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 rinancial ststements, 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: slate whether applicable UK Accounting Standards have been followed, subject lo any material departures disdosed and explained in the financial statements., and prepa￿ the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in business. The trustees are responsible for keeping sufficient accounting records that disclose with réasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements cnmply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trusl deed. They are also responsible for safeguarding the assets of the charity and hencè for taking reasonablè steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the board on .&JaDuary2Q26............... JoA&7 G£6h John N Gibbs Chair THE GIBBS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31st MARCH 2025 Independent examlner'$ report to the trustee$ of The Glbbs Charltable Trust. I report lo the trustees on my examination of the accounts of The Gibbs Charitable Trust (the Charilyl for the year ended 31 March 2025. Responslbllltles and ba$1$ of report As the charity trustees of the Charily you are responsible for the preparation of the accounls in accordance with the requirements of the Charities Act 2011 I'the Act'l- I report in respect of my examination of the Charity's accounts Ca￿led 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 14515llb) of the Act. Independent examlner's slatement I have completed my examination. I confimi 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 ol the Act,. or the accounts do not accord with those records,. the accounts do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reportsl 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 indep8ndent examination. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper nderslanding of the accounts to be reached. ogkkn ILYgtolt Joshua Kingston BSC, FCA Burton Sweet Limtted The Clock Tower 5 Farleigh Court Old Weston Road F18x Bourton Bristol BS48 1 UR Dale.. 6.JawJaFy.2026......... THE GIBBS CHARITABLE TRUST STATEMENT OF FINANCIAL AcTvI￿lEs YEAR ENDED 31 MARCH 2025 Llnrestrided ErLdowffent T¢Mal Funds Total Fund$ Fund5 Fund5 2025 2024 In¢om8 from: Investments 101.756 101,756 103.987 Tolal In￿me 101.756 101.756 103.987 Exptrndltur• on= Charitable activibes 203.301 203.301 204.616 Total •xp•ndltu 203.301 203.301 204.616 N?t (lo¥$￿) l gains on i￿￿*tmO￿l• 1149.1911 321.456 N&t1oxpondltur•l I Ineom 1101.5451 1149.1911 1250,7381 220.827 Transfers bèN¥•trn fvrKI$ 10 100.fJJO Not mov8m•nt In lund8 11.5451 1249.1911 1250,7381 220.827 Totsl fundi •¢ ¥t0rt of y••r 10 45.787 3.593,985 3,639,772 3,418.945 Total fund• at end of year 10 44.242 3.344.794 3.389.036 3.639.772 Th¢ chortly has no rotwisod 98in$ or OlF*r Ihon tho for thb ￿ar 8$ s&t out al￿¥¥. All ol aciwthas ol tha ch8rity8re dassad 8S COt)Ik)ulng. Sev Trofe 6 forfvTrd-a¢¢ounUrbg compar•Uv8 figur85. The notes on pages 11 to 17 form part of these financial staternerbts. THE GIBBS CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Flx8d ass8ts Investrnents 3.344.136 3.344.136 3 593.327 3.593.327 Current ass•t$ Debtors Cash ai bank and In hand 6.400 50.6L 57.OL 400 e5,643 66.043 Creditors." amwnts lalllng due within one year 112.1061 119,5981 Net curr•nt ai•ots 44,9fXJ 46.445 Mot 3.3e9.036 3.639.772 Fund¥ Endowm¢nt fvTrd¥ Llnrestrlct•d lund¥ Gener81 funds 11 3,344.136 3.593.327 44,9ts) d6.445 3.389.036 3.639.772 These flnancl815tatomonls were 8Fvroved by Ihe iDJ51ees on.AJanuary2026........ and 8r• s¥ned on thoir behalf by.. JOAA 6t66t John Glbbs- TruÈie Tho notss on pages 11 to 17 fom) part o1th￿ Ilnanclal Staiemonts. 10 THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 l Accounting policies Basis of preparation The financial $￿teMents have teen kvepared In accordanceviilh Ihe his1￿Cal ￿$1 convention lexcepl where otherwise staled in the aCc￿￿ti￿ tx)Iy note) and in accorda￿ wrfh Ihe Stalemenlof Recommended Practi￿". Accounting arKI Rewrting by Charitie5 preparing iheiracwjnis in aCu)[dan￿ vmh Ihe Financial Rep(Kting Standard applicab18 in the UK and Republi¢ of Ireland IFRS 1021 Issued in October2019. and Ih? FinancLal Repoibng Standard app￿Cable In Ihe Uni18d Kingdom and Republic of Irebnd IFRS 1021. arKI the Clwrities Act 2011. The accoun15 Ifinanaal 51alementsl have been prep¥ed to gwe a and fairf viww and have depart8d froffl th8 Charities (Accounts and Reports) RegUla￿on$ 2008 onty 10 exieni requiffjd ￿ prov￿@ a irue and fair v*w'. This daparture has invdved following Accounbw and Reportsng by Charities. Ststsment of Recommended Practice applic&ble lo charitse5 preparing their account5 in accordance Finarval RerK*brHJ Standard aptAicablg in Ihe UK ReputAiG of Ireland IFRS 1021 issuèd in October 2019 raiher than th6 Ac¢xXJ￿1ffig and Rèkyjrfing by Charil*$". Staiamant of Rècommèndèd Practic? effectiv8 from 1 April 2005 has been wthdra*n. The charity is a public b?￿fitOntsty os defi￿0 urbJer FRS102. The Tru$i•o$ have c￿$￿1$￿￿ the finantial posilw 011￿ tygarmwion •d l)•ts¥g th* il 1$ a ty*rvJ ¢ontxm. InGom• Income from donations18 In¢hJd8d in¢om8 thasa are ￿Nabl8, tsXCaPt 88 fdknys.. l. Wh&n donors specify thai don81ions given ￿ th& charity musi b& used in lulura acctyjniing p￿￿d$. the Incom8 is deferred until those p8nods', 11. When donors Imp088 Condit￿0$ which have lo be belcK6 the chanty becomes enbllad lo usa such Income. the income Is deferred unlil the prfrcrmdilion have twn met. Leg8cl8s ar8 Included on a receivaN6 b8&8 th6 chanty Is enbilad to the inc(*￿. il can ba measured rdlably and receipl is probable. Where legao05 have been notsfied lo r*arity. w the c*arity is aware oflhe granting probate. and the rilerla lor Income recoynilion have rrf)I bwn rn￿. then the logary 15 not indudod in incofflo bul 15 tr¢8lod as 8 conlingenl asset and dlsclosed bf malefial. Inveslmeni income is 8Ctounied lor as recéived. The are 8ati8f*d Ihai Ihis 1$ m8iefialty drfferenl trom accounting lor inve8wn8nl Incom8 on an accnJ* basis. exp•ndhur• Gran15 awardod •r• oIWted 10 ¢haritable adivitios. Grants awarded are treated as 8wdilure 8Tr1 a liatsbty n the acc￿JnIS a5 8Ctfi as Ihey beo)m8 ￿981 LY conslrucli¥8 oblig8llons. In the case ol mulb-year granl 8ward5. the fundirHJ for 81 ￿ar5 Is wnmedkrylely ¥ecoyn150d unless Ihere am conditions which neèd 10 be mèi by the rtitip*ni 10 ￿na￿tr th& re￿8$* of subseq￿￿ >*ats' funding. Expendllure is recoyniwl on an 8¢trya15 b#si$ in th¢ porK)d in whKh it is inwrred. Eynditure indudgs gllritxjlable VAT which cannot b& recovered. Governance costs indude those costs aSs￿l31ed with meeting Ihe c N•t mpv•m•nt In fund• 4.371 216.456 220.827 Total fundi it •tart of y••r 41,410 3,377,529 3,418.945 Total lund¥ at ond ol year 3 593 985 3 839 772 7 Flx•d asB•t InvMtm•n 2025 2024 Al 1 April 2024 Ditswsal procÉ8ds Nei Ilossll gain on revaluation 3,593,327 1100,OCM)I 3,271.871 321.456 Al 31 March 2025 3344 136 3 593 327 8 D•blorg 2025 2024 Prepawr8nts and accrued inc Olher debtors 400 6,wo 400 400 16 THE GIBBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 9 Creditor$ 2025 2024 Grant Commitments Acuuais 10.wo 2.106 17.000 2.598 10 Mov•mefit betsv•on funds At l April 2024 At 31 March 2025 Incorn Expenditur• Gains &10s5os Translers Endowment fund8 Capital fund 3.S93.985 1149.1911 1100,0001 3.344.794 Unrostrictqd fund• G•nèral funds 45.787 101.756 1203.3011 l(MJ.WQ 44.242 Totsl funds 3 639 772 149191 3 389 036 Prlpr ye4r ￿Mpar￿11¥• At 1 Apvll 2023 At 31 March 2024 Incom• Exp•ndhur• Galns & Tran•hrn endowm•nt fvnd• Capiial fvJniJ 3,377,529 321,456 1105,0001 3,593.985 Unr•8trict•d fund• Ganeral lunds 41.416 103.987 1204,6161 105.000 45.787 Total lundi 321 456 3 839 772 Capltal fund c8p1￿1 fund 15 an •¥p•nthbkn •ndowmonl ￿n￿ which 15 rnainty r•w•sented by the v8lu• of inv•51m•nts hold by th• th8rRy as ai Ihtr and of Ihtr finanual year aswdl as cash fu￿1$. Incoma gen¢rtW IrL•)) th¢ inyésbnènts 1$ ulilisad 10 furthtrr the charlly's charltsble eblethiv8. The transfers in the cuTh8nt and pnor wrf058nl Sn¥e51m8nt thsposal prrx88ds. 11 An4fy¥l• of n•¢ ¥¥Mt¥ l)th••n fun Unrgstrlctqd Endowrnent Tot41 Fund• Fund* Funds 2025 Fixed as5el investment5 Other nel current a55ets 3.Y4,136 658 3.344.136 44.900 44.242 3 389 036 Prlor year ¢omparatlvo Unro$trlct8d Endowm8nt Total Fund8 Fund$ Funds 2024 Fixed asset investments Other nel current asseis 3.593,327 658 3.593.327 46.445 45.787 3 593 985 3 639 772 12 Ralat8d party tranSa￿On8 The￿ are ￿ related paty Iransadiws in Ihe year12024.. £nll apart from those already d￿oSed throughout the report.