2020-12-31-accounts - The Gane Charitable Trust

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THE GANE CHARITABLE TRUST Registered Charity Number 211515

TRUSTEES’ REPORT

Principal activities

The Gane Charitable Trust provides grants towards the promotion of crafts, further education in the fields of crafts, architecture and design, and social welfare. Grants are made on the following general basis:

Preference is given to applications from Bristol, Newport and surrounding areas.
Grants may be given to institutions or organisations whose purposes come within the legal definition of charitable purposes. Grants are usually made for capital purposes or to meet starting-up expenditure. There is a bias against grants for recurring operational expenditure.
Grants may be made to individual recipients to assist them in meeting educational expenses either for themselves or for their children. Grants are normally only made where there is exceptional difficulty in meeting the cost of further education.

Financial review

During the year the income of the trust amounted to £38309 (2019 - £46321). Gifts, grants and donations made totalled £101695 (2019- £32135). There was a decrease in market value of investments totalling £59460 (2019 –increase 115087).

The Trust responded to Covid by working with local charities to support homeless people and create a hardship fund which made grants of £80000. Trustees B. Thomas - Chairman B Clarke (resigned Feb2020) C. Witt (retired Feb 2020) J. Cornwell T Sowden C Willmore R. Tandy T. P. S. Southall F. McKie R Withers

Address

The address of the Charity is 48 Park Row,Bristol BS1 5LH

Bankers

National Westminster Bank PLC, 32 Corn Street, Bristol BS99 7UG

Independent examiner

Roger Richardson, 10 Dingle Court, Langford Road, Bristol BS13 7 AU

THE GANE CHARITABLE TRUST Registered Charity Number 211515

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Under the trust deed the trustees are required to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the surplus or deficit of income over expenditure.

In preparing those financial statements, generally accepted practice entails that the trustees:

Select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether the recommendations of the Statement of Recommended Practice Accounting by Charities have been followed, subject to any material departures disclosed and explained in the financial statements;
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 required to act in accordance with the trust deed and the rules of the charity, within the framework of trust law. They are responsible for keeping proper accounting records. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.

THE GANE CHARITABLE TRUST Registered Charity Number 211515

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE GANE CHARITABLE TRUST

I report on the accounts of the Trust for the year ended 31st December 2020 which are set out on pages 4 to 7.

Respective responsibilities of trustees and examiner

The charity’s trustees, are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to

examine the accounts under section 145 of the Charities Act
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair” view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:-

1) which gives me reasonable cause to believe that, in any material respect, the requirements
to keep accounting records in accordance with section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act

have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

202`

Roger Richardson 10 Dingle Court Langford Road Bristol BS13 7 AU

THE GANE CHARITABLE TRUST Registered Charity Number 211515

BALANCE SHEET AS AT 31ST DECEMBER 2020

FIXED ASSET INVESTMENTS Quoted Investments at Market Value (Note 2/5) Furniture at cost CURRENT ASSETS Loan Cash at Bank- NET CURRENT ASSETS NET ASSETS Represented by:- UNRESTRICTED FUNDS General Fund	2020 £ £ 869479 22798 892277 ----- 44207 44207 44207 ______ 936484 936484	2019 £ 1011889 22798 1034687 ----- 29375 29375 29375 ______ 1064062 1064062

These Accounts were approved by the Trustees on …2 June .2021 and were signed on their behalf by:-

…………………………………………………….

…Byron Thomas, Chair………………………….

THE GANE CHARITABLE TRUST Registered Charity Number 211515

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST DECEMBER 2020
2020
INCOME AND EXPENDITURE
£
Incoming Resources
Investment Income
38309
Interest on Bank Deposit Account
-
_
Total Incoming Resources
38309
Resources expended
Direct Charitable expenditure,
Gifts, Grants and Donations
101695
Other expenditure
Management and Administration (Note 4)
4732

Total Resources Expended
106427
Net Incoming Resources For The Year
(68118)
Other recognised gains and losses:-
Realised gains on investment assets
943
Unrealised (losses)/Gains on investment assets
(60403)
__
Net Movement in Funds
(127578)
Balances brought forward at 1st January 2020
1064062
Balances carried forward
______
at 31st December 2020
936484

2019
£
46321
-
_
46321
32135
5806

37941
8380
3750
111307

123437
940625
___
1064062

THE GANE CHARITABLE TRUST Registered Charity Number 211515

NOTES TO THE ACCOUNTS - YEAR ENDED 31ST DECEMBER 2020

1. Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the trust’s financial statements.

Basis of preparation

The financial statements have been prepared in accordance with applicable accounting standards and under the historical cost accounting rules modified to include the revaluation of quoted investments at market value and comply with the Statement of Recommended Practice Accounting by Charities.

Gifts, grants and donations

Gifts, grants and donations are accounted for when they are paid.

Investments

Investments are included in the balance sheet at market value. Investments have been revalued to reflect stock exchange valuations at the balance sheet date in order to comply with the recommendation of the SORP. Unrealised gains/losses are transferred to the general fund at the year end.

Investment income

Investment income is brought into the accounts in accordance with the period to which it relates.

2. Fixed asset investments

QUOTED INVESTMENTS 2020 £ Market value at 1st January 2020 1011889 Addition at cost ---- Sales (82949) (Loss)/Gain on Revaluation (59461) Market value at 31st December 2020 869479 Historical cost 761639 FURNITURE Cost as at 1st January 2020 22798 Cost as at 31st December 2020 22798	2019 £ 858346 ____ (46885) 115057 1011889 841481 22798 22798	2019 £ 858346 ____ (46885) 115057 1011889 841481 22798 22798

3. Trustees’ emoluments

No emoluments or expenses were paid to the Trustees. (2019- nil).

THE GANE CHARITABLE TRUST

Registered Charity Number 211515

NOTES TO THE ACCOUNTS - YEAR ENDED 31ST DECEMBER 2020

4. Management and Administration Accountancy Secretarial honorarium Secretarial expenses Other Bank charges	2020 £ 400 3000 50 1331 (49) 4732	2019 £ 500 3000 145 2093 68 5806

5. Schedule of Investments

£ 3065 M & G Charifund 18200 B M O Fund Management Income 7984 Premier Asset Management Income Retail 27207 Premier Asset Mngt. Monthly income retail 31862 Axa Framlington - monthly income 36208 Axa Framlington - managed income 19181 Invesco Perpetual - high income 50374 BNYMellon fund Mngt - Higher income 21105 Schroders Charity Equity Fund ADis 87300 Schroders Charity - fixed interest A Dis SOLD 30000 J. P. Morgan Brazil SOLD 20000 CQSNew City growth &Income 100000 CQSNew City H. Y. Fund 27214 Smith and Williamson U. K. EquityB 100000 Henderson Diversified 50000 JPMorgan Global SOLD 25000 Premier Milton Global 28455 Royal London Corp Bond 20000 Shires Income 40000 Blackrock energy&R 12796 Henderson Intl Income 7000 Blackrock World Mining	Cost ____ £ 1673 14665 49938 49938 49322 49435 24207 58447 50378 -- -- 28459 62039 49951 93274 25663 35320 45316 29162 20244 24208 761639	Market Income Income Value 2020 2019 £ £ £ 43307 2053 2544 32414 1157 1481 49360 2528 3214 46527 2418 3110 43874 1916 2124 40952 2058 2056 29942 1483 1387 62715 2366 3061 76678 2889 4232 -- 306 1528 -- -- 240 26000 1120 1120 50600 4460 4450 50211 860 1565 91800 3300 4400 2250 42750 1925 2550 36565 922 ------ 53100 2640 2640 33040 1540 800 19674 768 729 39970 1600 840 869479 38309 46321