THE GANE CHARITABLE TRUST Registered Charity Number 211515
TRUSTEES’ REPORT 2022
Principal activities
The Gane Charitable Trust provides grants in the fields of arts, crafts, architecture and design, and social welfare, to promote education and the development of skills and to facilitate craft arts and design projects. Grants are made on the following general basis.
Preference is given to applications from Bristol, Newport and surrounding areas
A number of award/grant schemes operate in partnership with craft, design and social care programmes at local colleges / Design Council.
Grants are normally made to individuals, but may be given to institutions or organisations whose purposes come within the legal definition of charitable purposes and meet the Charity objects.
Grants are usually made for capital purposes or to meet starting-up expenditure, rather than recurring expenditure .
Grants may be made to individual recipients to assist them in meeting educational expenses either for themselves or for their children, but are normally only made where there is exceptional difficulty in meeting those costs.
Financial review
During the year the income of the trust amounted to £ 43,274 (2021 - £33,831) from investments. Donations to beneficiaries totalled £20,131 (2021- £22,573).
A number of the grants the charity gives are travel awards, given as awards for students on craft, design or care programmes to enable them to travel for their studies. Whilst these continued, despite extensive marketing, applications for individual grants fell.
During the year the Charity commenced a review of its processes to improve the marketing of grants and to consider whether there were better ways to reach its target beneficiaries.
Trustees:
-
B. Thomas – Chairman (until Feb 2022)
-
L. Collier_ Standfield (appointed 1/2/2023)
-
J. Cornwell
T Sowden
C Willmore (resigned 19/1/2023)
-
R. Tandy (resigned 12/11/1022)
-
T. P. S. Southall (Chair from Feb 2022)
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
Paul Whitehouse, 1 Slate Cottages, Manor Lane, Abbots Leigh, Bristol, BS8 3RX
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THE GANE CHARITABLE TRUST Registered Charity Number 211515
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022
| FIXED ASSET INVESTMENTS Quoted Investments at Market Value (Note 2/5) Heritage Assets (Furniture at cost) CURRENT ASSETS Cash at Bank- Ledger Cash at Brokers (Deposit accounts) CURRENT LIABILITIES NET CURRENT ASSETS NET ASSETS Represented by:- UNRESTRICTED FUNDS |
2022 2021 £ £ 938,502 983,246 22,798 22,798 |
|---|---|
| 961,300 1,006,044 19,558 12,755 24,723 17,509 |
|
| 44,281 30,264 (548) 43,733 30,264 |
|
| 1,005,033 1,036,308 |
|
| 1,005,033 1,036,308 |
|
| 1,005,033 1,036,308 |
These Accounts were approved by Trustees on 30 October 2023 and were signed on their behalf by:
Chair of Trustees
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THE GANE CHARITABLE TRUST Registered Charity Number 211515
STATEMENT OF FINANCIAL ACTIVITIES
INCOME STATEMENT
| INCOME STATEMENT | INCOME STATEMENT | |
|---|---|---|
| FOR THE YEAR ENDED 31ST DECEMBER 2022 | ||
| 2022 | 2021 | |
| INCOME AND EXPENDITURE | £ | £ |
| Incoming Resources | ||
| Investment Income | 43,274 |
39,831 |
| Total Incoming Resources | 43,274 |
39,831 |
| Resources expended | ||
| Direct Charitable expenditure; | ||
| Gifts, Grants and Donations | 20,131 |
22,573 |
| Other expenditure | - | - |
| Management and Administration (Note 4) | 4,514 |
4,529 |
| Total Resources Expended | 24,645 |
27,102 |
| Net Incoming Resources For The Year | 18,629 |
12,729 |
| Other recognised gains and losses:- | ||
| Realised gains on investment assets | ||
| Unrealised (losses)/Gains on investment assets | (44,744.33) | 103,066 |
| Net Movement in Funds | (26,115) |
115,795 |
| Balances brought forward at 1st January 2022 | 1,036,308 |
920,513 |
| Balances carried forward at 3/12/2022 |
1,010,193 |
1,036,308 |
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THE GANE CHARITABLE TRUST
Registered Charity Number 211515
NOTES TO THE ACCOUNTS - YEAR ENDED 31ST DECEMBER 2022
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 general fund at 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 Market value at 1st January 2022 Addition at cost Sales (Loss)/Gain on Revaluation Market value at 31st December 2022 Historical cost FURNITURE Cost as at 1st January 2022 Cost as at 31st December 2022 |
2022 £ 983,246 - (44,744) 938,502 880,180 22,798 22,798 |
2021 £ 869,479 26,671 103,066 999,216 880,180 22,798 22,798 |
|---|---|---|
3. Trustees’ emoluments
No emoluments or expenses were paid to the Trustees. (2021- nil).
| 4. Management and Administration Accountancy Secretarial honorarium Secretarial expenses Digital costs Bank charges Investment fees |
£ £ 2022 2021 400 400 3000 3000 31 46 288 288 £ (105) £ (105) £ 900 £ 900 4514 4529 |
|---|---|
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THE GANE CHARITABLE TRUST Registered Charity Number 211515
5. Schedule of Investments
Note: value is at 5 Jan
| Note: value is at 5 Jan | ||||
|---|---|---|---|---|
| Value at 31-Dec-21 |
Additions cost/(Disposal Proceeds) |
Value at 31-Dec-22 |
Unreal'd Gain/(loss) | |
| £ | £ | £ | £ | |
| Smith and Williamson UK Equity B rename SVS Sanlam UK Equity |
60,715.71 | 47,407.78 | (13,307.93) |
|
| Royal London Corp Bond | 35,512.20 | 29,024.39 | (6,487.81) |
|
| Axa Framlington Unit Managed Income |
42,291.43 | 36,787.75 | (5,503.68) |
|
| CQS New City H Y Fund | 56,400.00 | 54,000.00 | (2,400.00) |
|
| Premier Asset Mgt Miton Monthly Income |
107,227.26 | 103,952.29 | (3,274.97) |
|
| Henderson Diversified | 83,000.00 | 70,500.00 | (12,500.00) |
|
| Chelverton Divdent Trust | 22,715.00 | 19,360.00 | (3,355.00) |
|
| CQS Natural Res | 32,550.00 | 38,500.00 | 5,950.00 |
|
| Shires Income | 55,000.00 | 53,300.00 | (1,700.00) |
|
| Axa Framlington Unit Monthly Income |
49,895.81 | 46,104.24 | (3,791.57) |
|
| BMO Found Management Income renamed Clumbia Threadneedle |
36,436.68 | 32,596.45 | (3,840.23) |
|
| BNY Mellon Fund Mgt Income |
69,727.63 | 73,535.90 | 3,808.27 |
|
| Invesco High Income | 33,040.01 | 31,555.37 | (1,484.64) |
|
| M&G Securities Equities Investment Charifund |
48,496.16 | 45,888.85 | (2,607.31) |
|
| Blackrock Energy | 41,900.00 | 53,000.00 | 11,100.00 |
|
| Blackrock World Mining | 41,720.00 | 49,420.00 | 7,700.00 |
|
| Premier Miton Global | 49,125.00 | 39,000.00 | (10,125.00) |
|
| Schroder s Cazenove Charity Fund |
95,420.05 | 91,599.87 | (3,820.18) |
|
| Henderson Intl Income | 22,073.10 | 22,968.82 | 895.72 |
|
| Total | 983,246.04 | 0.00 |
938,501.71 | (44,744.33) |
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