REGISTERED CHARITY NUMBER: 210214
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
FOR
WILLIAM GUNN'S CHARITY
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D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
WILLIAM GUNN'S CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31st March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 | ||
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WILLIAM GUNN'S CHARITY
REPORT OF THE TRUSTEES for the Year Ended 31st March 2023
The trustees present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the Charity shall be to relieve either generally or individually members of the Society of Friends who are in conditions of need, hardship or distress.
Significant activities
Trustees met twice during the year and were in regular contact by email and telephone. Some applications that clearly met all the criteria were responded to within days of the application being received.
The Trustees believe that they have continued to operate faithfully within the terms of the original Trust Deed and the 1972 Charity Commission Scheme and have the Commission's guidance on public benefit.
Public benefit
The main activity is undertaken to further our charitable objective for the public benefit.
Grantmaking
The Trust Deed states that applications can only be accepted from or on behalf of Members of the Religious Society of Friends in financial need. We require verification of their Membership. Each application must be supported by a Friend (usually an Elder or Overseer) who knows the applicant and is aware of their circumstances. The Investment Portfolio is managed on our behalf by Nicola Day at Rathbone Greenbank Investments. ACHIEVEMENT AND PERFORMANCE Charitable activities Grants for assistance were £12,930 ( 2022 £7,707 ) and our income was £24,336 ( 2022 £21,274 ).
We have paid fees for the management of the charity's money and ethical screening costs of £14,527 ( 2022 £17,097 ).
Unrealised losses on Investments reflect the turbulent stock market in the period.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Risk Management
We have asked Rathbone Greenbank Investments to operate our investment strategy on a low risk basis.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
210214
Principal address
3 Wesley Court Duke Street Broseley Shropshire TF12 5LS
Trustees
V Brittin Grants correspondent J Fowler Clerk Ms J Spiers Treasurer and financial correspondent
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WILLIAM GUNN'S CHARITY
REPORT OF THE TRUSTEES for the Year Ended 31st March 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
Approved by order of the board of trustees on 22nd September 2023 and signed on its behalf by:
Ms J Spiers - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WILLIAM GUNN'S CHARITY
Independent examiner's report to the trustees of William Gunn's Charity
I report to the charity trustees on my examination of the accounts of William Gunn's Charity (the Trust) for the year ended 31st March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Russell Ball
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D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
22nd September 2023
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WILLIAM GUNN'S CHARITY
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2023
| DRAFT 12/09/23 17:15 Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Charitable activities Grant making Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.23 Unrestricted funds £ 24,691 28,301 (103,728) (107,338) 1,424,108 1,316,770 |
31.3.22 Total funds £ 21,274 |
|---|---|---|
| 25,334 | ||
| 43,082 | ||
| 39,022 1,385,086 |
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| 1,424,108 | ||
The notes form part of these financial statements
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WILLIAM GUNN'S CHARITY
BALANCE SHEET
31st March 2023
| DRAFT 12/09/23 17:15 Notes FIXED ASSETS Investments 5 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 7 Unrestricted funds TOTAL FUNDS The financial statements were approved by the Board of Trustees and authorised for issue were signed on its behalf by: |
31.3.23 31.3.22 Unrestricted Total funds funds £ £ 1,203,875 1,290,011 113,345 134,547 (450) (450) 112,895 134,097 1,316,770 1,424,108 1,316,770 1,424,108 1,316,770 1,424,108 1,316,770 1,424,108 on 22nd September 2023 an |
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The financial statements were approved by the Board of Trustees and authorised for issue on 22nd September 2023 and were signed on its behalf by:
V Brittin - Trustee
J Fowler - Trustee
J Spiers - Trustee
The notes form part of these financial statements
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WILLIAM GUNN'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Rathbones Investment Management Limited | 23,087 | 19,869 |
| COIF Fixed Interest account | 1,249 | 1,396 |
| COIF Deposit account | 355 | 9 |
| 24,691 | 21,274 |
continued...
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WILLIAM GUNN'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
Trustees' expenses
Trustees expenses for the year were £76 ( 2022 £8 ).
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| DRAFT 12/09/23 17:15 INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Charitable activities Grant making Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 5. FIXED ASSET INVESTMENTS MARKET VALUE At 1st April 2022 Additions Disposals Revaluations At 31st March 2023 NET BOOK VALUE At 31st March 2023 At 31st March 2022 |
Unrestricted funds £ 21,274 25,334 43,082 39,022 1,385,086 1,424,108 Investments £ 1,290,011 241,987 (151,958) (176,165) 1,203,875 1,203,875 1,290,011 |
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The market value of investment assets outside the UK was £129,131 ( 2021 £169,752 ).
continued...
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WILLIAM GUNN'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023
5. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31st March 2023 is represented by:
| Investments | ||
|---|---|---|
| £ | ||
| Valuation in | 2021 | 303,127 |
| Valuation in | 2022 | 26,708 |
| 329,835 |
- ** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF INVESTMENTS
| DRAFT 12/09/23 17:15 'COST' ACCOUNT TOTAL Cost/valuation b/f Additions Disposals Revaluations CLIENT SCREEN TOTAL 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 1,094,273 Unrealised investment gains 329,835 1,424,108 TOTAL FUNDS 1,424,108 |
= 31.3.23 £ 450 Net movement in funds £ 68,827 (176,165) (107,338) (107,338) |
1,290,011 241,987 (151,958) (176,165) 1,203,875 - 31.3.22 £ 450 At 31.3.23 £ 1,163,100 153,670 1,316,770 1,316,770 |
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continued...
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WILLIAM GUNN'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| DRAFT 12/09/23 17:15 Incoming resources £ Unrestricted funds General fund 24,691 Unrealised investment gains - 24,691 TOTAL FUNDS 24,691 Comparatives for movement in funds Unrestricted funds General fund Unrealised investment gains TOTAL FUNDS Comparative net movement in funds, included in the above are a Incoming resources £ Unrestricted funds General fund 21,274 Unrealised investment gains - 21,274 TOTAL FUNDS 21,274 |
Resources expended £ (28,301) - (28,301) (28,301) At 1.4.21 £ 1,081,959 303,127 1,385,086 1,385,086 s follows: Resources expended £ (25,334) - (25,334) (25,334) |
Gains and losses £ 72,437 (176,165) (103,728) (103,728) Net movement in funds £ 12,314 26,708 39,022 39,022 Gains and losses £ 16,374 26,708 43,082 43,082 |
Movement in funds £ 68,827 (176,165) (107,338) (107,338) At 31.3.22 £ 1,094,273 329,835 1,424,108 1,424,108 Movement in funds £ 12,314 26,708 39,022 39,022 |
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continued...
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WILLIAM GUNN'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Unrealised investment gains TOTAL FUNDS |
At 1.4.21 £ 1,081,959 303,127 1,385,086 1,385,086 |
Net movement in funds £ 81,141 (149,457) (68,316) (68,316) |
At 31.3.23 £ 1,163,100 153,670 |
|---|---|---|---|
| 1,316,770 | |||
| 1,316,770 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| D Unrestricted funds General fund Unrealised investment gains TOTAL FUNDS |
RAFT 12/09/23 17:15 Incoming resources £ 45,965 - 45,965 45,965 |
Resources expended £ (53,635) - (53,635) (53,635) |
Gains and Movement losses in funds £ £ 88,811 81,141 (149,457) (149,457) (60,646) (68,316) (60,646) (68,316) |
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8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2023.
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WILLIAM GUNN'S CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2023
| for the | Year Ended 31st March 2023 | ||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Investment income | |||
| Rathbones Investment Management Limited | 23,087 | 19,869 | |
| COIF Fixed Interest account | 1,249 | 1,396 | |
| COIF Deposit account | 355 | 9 | |
| 24,691 | 21,274 | ||
| Total incoming resources | 24,691 | 21,274 | |
| EXPENDITURE | |||
| Charitable activities | |||
| Expenses of Trustees | 76 | 8 | |
| Independent Examiners fee | 546 | 522 | |
| Investment management costs | 14,527 | 17,097 | |
| Grants to Friends in Need | 12,930 | 7,707 | |
| Website costs | 222 | - | |
| Total resources expended Net expenditure before gains and losses Gains/losses on investments Realised Unrealised |
DRAFT 12/09/23 17:15 |
28,301 28,301 (3,610) 72,437 (176,165) |
25,334 25,334 (4,060) 16,374 26,708 |
| Net (expenditure)/income | (107,338) | 39,022 |
This page does not form part of the statutory financial statements
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