## **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:
1. Preference is given to applications from Bristol, Newport and surrounding areas.
2. 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.
3. 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
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**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.
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## **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
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## **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………………………….
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## **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|
|---|---|
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**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).
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## **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|
|---|---|---|
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