**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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