Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 1119 Charity number: 213630 THE GILBERT EDGAR TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 2119 THE GILBERT EDGAR TRUST CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trustees. report Independent examinevs report ststement of financial activities Balance sheet Notes to the financial statements 8-17
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P W19 THE GILBERT EDGAR TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 The trust was created by the late Mr G H S Edgar by a deed dated 18 May 1955. The object of the trust is for the Iruslees to apply income to such charrtable Pufposes and in such proportion as they in their absolute discretion think fil. Trustees S C E Gentilli A E Gentilli Dr R E B Solomons Charity registered number 213630 Principal office 2 Communications Road Greenham Business Pa Greenham Newbury RG19 6AB Accountants James Cowper Kreston 2 Communications Road Greenham Business Park Greenham Newbury RG19 6AB Bankers HSBC 6 Market Place Henley-on-Thames Oxfordshire RG9 2AN Solicitors Forsters LLP 22 Baker Street London W1U3BW Investmonl managofs Close Brothers Asset MageMent 10 Crown Place London EC2A 4 Page 1
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P4119 THE GILBERT EDGAR TRUST TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 2024 The Trustees present their annual report together with the financial statements of the The Gilbert Edgar Trust for the year 6 April 2023 to 5 April 2024. Objectives and activities . Policies and objectives The trust has wdely drawn objects and may apply its income lo such charitable purposes as the trustees think fil. For a large number of years the trustees have concentrated on making annual grants lo a range of charities, generally varwng bebNeen £500 and £1,500. The trustees review the benefiaries and trom lime to time amendments are made to the list. When funds allow the bustees occasionally make larger one-off grants. Most of the benefiaries are charities concerned Mqth the welfare of people both in the UK and overseas. The list of grants made during the year is appended to the financial statements and shows the categories of benefiaries that the trustees are currently supporting. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commisston relating to public benefft. including the guidance 'Public benefit: running a charity IPB2)'. Achievernents and performance Main achievements of the Charity During the year the charity has made 5012023.. 531 donations to charities benefiting a wide sector of the public, especially charities concerned with the weWare of people both in the UK and overseas. The work of the charities supported has included providing treatment for people are dnJg or alcohol dependent. providing help for people wth learning disabilities, people who are homeless and children suffering from cruelty- It also has included providing medical help and emergency support abroad. Financial review a. Going concom After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concem basis in preparing the financial statements. Further detals regarding the adoption of the going concem basis can be found in the accounting policie5. b. Reserves policy The trustees generally aim to match expenditure to income in a given year_ Once administration fees have been pald the remalnlng monles are applled io make grants to benecIarles. The trustees do not conslder It necessary to hold large reserves of unrestricted funds. c. Investment policy The investment policy is lo balance income return with capital growth with a moderate exposure to risk. The truslees receive regular repts from Investec so that they may review the performance of the investments. d. Risk managemant The trustees have reviewed the risk5 faced by the charty and have implemented systems to mitigate the risks. In particular the trustees consider that the major risk is the value of the charitys investments. To mitigate this the trustees use the SerS of a leading investment adviser, Close Brothers. Page 2
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 5119 THE GILBERT EDGAR TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 e. Ovorviow The attached financial statements show the financial results of the chaiity for the year. Cash investment income received amounted to £46,444 {2023: £54,225). Grants totalling £35.000 12023: £55,000) were made during the year. Support costs included in charitable activities totalled £13.041 12023= £12.807}. The movements in inveslments are shown in n¢Xe 9. The Trustees continue to monitor the value of its investments closely. Structure> govemance and management Constitution The Giltert Edgar Trust is a registered charity, number 213630, and is constituted under a Trust deed. b. Organisational structure and decision-making policies The constitution of the charity is set out on page 1. The Trustees who have seNed during the year and since the year end are set out on page 1. The power of appointing new trustees resides with the existing trustees. Decisions are made by the trustees in consultation NMth each other. Page 3
Rel. Kf20¥5M¢JN-JZSV 24 Oct 2024 13..07..52 BSTIUTC+11 D 111 P6119 THE GILBERT EDGAR TRUST TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 5 APRIL 2024 ststement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United lQngdom General Accepted Accounting Practice). The law applicable to charities in England & Wale5 require5 the Trustees to prepare financial statements for each financial which give a true and fair view of the slate of affair5 of the Charity and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo= select surtable accounting policies and then apply them consistently: observe the Methods and principle5 of the Charitie5 SORP {FRS 1021., make judgments and accounting estimates that are reasonable and prudent: state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to ary material departures disclosed and explained in the financial stslements.. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Chartys transactions and disdose wth reasonable accuracy at any time the financial posth.on of the Charty and enable them lo ensure that the financial statements comply wrth the Charities Act 2011, the Chanty (Accounts and Reports) Regulab"ons 2008 and the provisions of the Trust deed. They are also responsible for safeguardirKJ the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other iriegularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. S C E Gentilli Dale: 24 October 2024 Page 4
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P7119 THE GILBERT EDGAR TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED S APRIL 2024 Independent Examinevs Report to the Trustees of The Gilbert Edgar Trust Ilhe Chariv) I report to the charity Trustees on my examination ofthe accounts of the Charity for the year ended 5 April 2024. Responsibilities and Basis of Report As the Ttuslees of the Charity you are responsible for the preparation of the accounts in accordance with the rw4uirements of the Charities Act 2011 1.the 2011 Acr). I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Indopendeni Examinerfs Statement Your attention is drawn to the fact that the Charity has prepared the accounts in accordance Mqth Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities prepaiing their accounts in accordance wllh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities= Statement of Recommended Practice issued on 1 April 2005 vthich is referred to in the extant regulations bul has been wthdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection wth the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act.. or the aceAiunts do not ateord wtth those e0rds. ar the accounts do not comply with the applicable requirements conceming the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair. view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wth the examination to vthich attention should be drawn in this report in order to ertable a proper understanding of the accounts to be reached. This report is made solely to the Charity's Trustees. as a W. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitys TTU51ees those matters l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charitys Trustee5 as a body. for my work or for this report. Signed: Dated: 25.10.2024 Darren O'connor Bsc (Honsl FCCA ACA James Cowper Kreston 2 Communications Road Greenham Business Park Greenham, Newbury RG19 6AB Page 5
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P8119 THE GILBERT EDGAR TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2024 Untestricted Endowment funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income and endowmenis from: Investrments 4T.922 47,922 54.676 Total income and endowments 47,922 47,922 54,676 Expenditure on: Investrnent management costs Charitable activities 10.514 4.632 10,514 48,041 tO.486 67.807 Total expenditure 43,409 15.146 58,555 78,293 Not incomellexpenditur8) b8fore net losses on investments 4513 (15,1461 127,1011 {10,6331 {27,1011 (23,617) (63,039) Nel losses on inveslments Net movement in funds 4,513 142,2471 {37,734> (86,656) Reconciliation of funds: Total funds brought fonvard Nel movement in funds 124,492 4,513 913,409 142,2471 1,037,901 {37,734) 1,124,557 (86,656) Total funds carried fopNard 129.005 871.162 1.000,167 1,037,901 The Statemerrt of Finanaal Activities includes all gains and losses recognised in the year. The notes on pages 8 to 17 form part of these financial statements. Page 6
Rel. Kf20¥5M¢JN-JZSV 24 Oct 2024 13..07..52 BSTIUTC+11 D 111 P 9119 THE GILBERT EDGAR TRUST BALANCE SHEET AS AT S APRIL 2024 2024 2023 Note Fixed assets Investments 935.247 971.763 935.247 971.763 Current assets Cash at bank and in hand 74,638 76,380 74.638 76.380 Creditors: amounts falling due within one year 10 19.7181 (10,242J Net current assets 64.920 66,138 Total net assets 1,000,167 1,037.901 Charity funds Endowment funds Unrestricted funds 871.162 129.005 913.409 124.492 Total funds 1.000.167 1,037,901 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. S C E Gentilli Dale: 24 October 2024 The notes on pages 8 to 17 fonn part of these financial statements. Page 7
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 10f19 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 General inforrnation The Gilbert Edgar Trust is a registered chartty in England and Wales. The address of its registered offi is 2 Communications Road, Greerkham BLisiness Park. Greenham. Nemloury. RG19 6AB. Accounting policies 2.1 Basis of preparation of financial statements The financial statement5 have been prepared in accordan wtlh the Charitie5 SORP IFRS 1021 Accounting and Reporbng by Charities: Statement of Recommended Practi applicable to charities preparing their accounts in accordance Mth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019}, the Finanaal Reports"ng Standard applicable in the UK and RepublÈc of Ireld IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities {Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair. view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 )ri12005 which has since been wthdrawn. The Gilbert Edgar Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Initial recognised at historical c05t or transacti value unles5 otherwise slated in the relevant accounting poliry. 2.2 Income All income 15 recogni5ed once the CharTty has entilement to the income, it is probable that the income wll be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, it is probable that a transfer of economic benefrts will be required in setuement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activtty. Direct costs attributable to a single activity are allocated directly to that aclimty. EXTlure on raising fund5 includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expendrture on charitable activtbes is incurred on diredy undertaking the activthes [ch further the Charitys objectives, as well as any assouated support costs. Grants payable are charged in the year Nthen the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the condrtions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitsmenl, but not accrued as expendilure. AJI expenditure is inclusive of Irrecoverab VAT. Page 8
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 11119 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Accounting policies Icontinuedl 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity- this is normalfy upon notification of the interest paid or payable by the institution wth whom the funds are deposited. 2.5 Investments Fixed asset investsnents are a form of finanaal instrument and are inib.alty recognised al their transaction cost and subsequently measured at fair value at the Balance sheet date. unless the value cannot be measured reliably in Mthich case rt is measured at cost less impaiTment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on investments, in the Statement of finanaal activities. 2.6 Cash at bank and in hand Cash at bank and in hand indudes cash and short-temi highly liquid investments wtth a short maturity irf three months or less from the date of zcquisition or opening of the deposit or Similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an c*Jligation al the Balance sheet date as a result of a past evenl, It Is probable that a transler of economlc beneflt 11 be requlred In settlement. and the amount of the sÈttlemènt can bè Èstimated reliably_ 2.8 Fund accounting General funds are unrestricted funds Mthich are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income. gains and losses are allocated to the appropriate fund. Page 9
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 12119 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Income from investments 46.444 1.478 54,225 451 Bank interest 1,478 47,922 47.922 54,676 Total 2023 54,676 54,676 Analysis of axpanditure on eharitablo activities Summary by fund typ8 Unrestricted Endowment funds funds 2024 2024 Total 2024 Total 2023 Charitable actimties 43,409 4.632 48.041 67,807 Total 2023 62,689 5,118 67,807 Analysis of expenditure by activities Grant funding of activities 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitable actimties 35,000 13,041 48,041 67,807 Total 2023 55,000 12,807 67,807 Page 10
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 13f19 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Analysis of expenditure by activities (continued) Analysis of support costs Total funds 2024 Total funds 2023 Accountancy fees Independent examination Accountancy admin fees Bank charges Legal fees 3,600 1,296 3.240 83 4.822 3,564 1.260 2.160 81 5. 742 13,041 12,807 Analysis of grants 2024 2023 Children Gt Ormond St.ChikJren's Hospital Fund National Autistic Society NSPCC 500 500 500 500 1,500 500 1.500 500 NSPCC re Childline Nat. Inst. of Conductive Education 1.000 500 1.000 500 Potential Plus UK St Basils 500 500 Wellbeing of Women 500 500 5,500 5,500 DeaflBlind RNIB RP Fighting Blindness Sense Telephones for the Blind Fund 500 500 500 500 500 500 500 500 2,000 2,000 Drug Abuse Action on Addiction Re-solv 1,000 500 1.000 500 Release 500 500 2.000 2.CUO Page 11
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 14119 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Disabilities Canterbury Oast Trust Ltd Headway- The Brain Injury As50C HF Trust Ltd Orchard Vale Trust Thomage Hall IndeperKlent Ltving United Response Willow Twst 500 500 500 500 500 500 500 500 500 500 500 500 500 500 3.500 3.500 Homeless Centrepoint Mind 1,500 1,500 1,500 1.500 3,000 3,000 Hospice East Anglia's Children's HospIS Havens Christian Hospice Hospice of St Francis St Columba's Hospice 500 500 500 500 500 500 500 500 2,000 2.000 Mèdical Cystic Fibrosis Trust Macmillan Cancer Support Pain Reiief Foundation 1.000 1,000 500 1,000 1.000 500 Spinal Injuries Associalion 500 500 3,000 3,000 Overseas Bees Abroad 1,000 1.500 1.000 1.000 500 1.000 1.500 1,000 1,000 500 British Red Cross Echo Impact Foundation Prisoners Abroad Save the Children Fund 1,000 1,000 1,000 1.000 WaterHarvest 7.000 7.000 Research Anthony Nolan Trust Bloodwse 500 500 500 500 Brain Research UK 500 500 Medical College of St Bartholomews Hospital Trust Page 12 500 500
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 16119 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Prostate Cancer Research Centre 1,000 1.000 3.000 3.000 Social Elizabeth Finn Care Hambleden Church Council Police Foundation RABI 500 500 500 500 500 500 500 500 Samaritans 1,500 1.500 3.500 3.500 Youth Nal Assoc of Clubs for Young People 500 500 500 500 Additional grants Phy3ionet Legs4Africa Disability Africa 6,667 6.667 6.666 Less.. pric year grants withdrawnlnot taken up 35,000 55,000 Independent èxaminor's remvneration The independent examinerfs remuneration amounts to an independent examiner fee of £1,296 {2023 - £1.2601. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefrts (2023- £NIL). During the year ended 5 April 2024. no Tstee exFenses have been incurred (2023- £NILJ. Page 13
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P IW19 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Fixed asset investments List8d inv8Stmants C05t or valuation At 6 April 2023 Additions 971.763 270.444 1294,3151 {12,645) Disposals Revaluations At 5 April 2024 935.247 Not book value At 5 April 2024 935,247 At 5 April 2023 971,763 The historical cost of the investments at S April 2024 was £842,19512023.. £866,066). 10. Craditors: Amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income 4.822 4,896 2.562 7,680 9,718 10,242 Page 14
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 17119 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 11. Statement of funds Statement of funds - current year Balance at 6 April 2021 Gainsl Balance at S (Losses) April 2024 Income Expenditure Unrestricled funds Unrestricted Income Fund 124,492 47,922 143,4091 129,005 Endowment funds Capital Endowment Fund 913.409 (15.1461 127.101) 871.162 Total of funds 1.037.901 47,922 (58.5551 127.101) 1.000.167 Investment management costs are allocated 100% to the capital endowment fund. Legal and professional costs including accounta¢y fees are allocated 55% to the capital endowment fvnd and 45% to the unre5tficted income fund. The unrestricted income fund of the Cha may be applied for any charitable purpose at the discretion of e trustees. The capital endowment fund is to be invested and the income used for any charitable purpose al the discretion of the trustees. Statement of funds - prior year Balance at 1 Apnl 2022 GaAn Balance al (Losses) 5 April 2023 Inwme Expenditu Unrestricted funds Unrestricted Income Fund 132,505 54.676 (62,689) 124.492 Endowmont funds Capital EndowTh@nt Fund 992.052 (15,604) (63.039) 913.409 Total of funds 1,124,557 54,676 {78,293) (63,039) 1,037,901 Page 15
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 18ff19 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 12. Summary of funds Summary of funds - current year Balance at 6 April 2023 Gainsl Balance at S (Losses) April 2024 Income Expenditure General funds End0ent funds 124.492 913.409 47,922 (43.4091 (15.1461 129.005 871.162 127.101) 1.037,901 47,922 158,5551 127,1011 1,000,167 Summary of funds- prioryear Balance at l April 2022 Gain Balancg al (Losses) 5 April 2023 Income Expenditure General funds End0ent funds 132,505 992,052 54.676 (62,689) (15,604) 124,492 913,409 (63,039) 1.124.557 54,676 (78.293) (63.039) 1.037.901 13. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted Endowment funds funds 2024 2024 Total funds 2024 Fixed asset investments 64,085 74,638 19,7181 871.162 935.247 74,638 (9,7181 Current assets Creditors due wthin one year Total 129.005 871,162 1,000,167 Page 16
Rel. M21)¥5Wjzsv 24 OGI 2024 13..07..52 88TIUTC +11 D 111 P 1W19 THE GILBERT EDGAR TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 13. Analysis of net assets between funds Iconlinuedl Analysis of net assets between funds - prior period Unrestricted Endowment funds fiinds 2023 2023 Total funds 2023 Fixed asset investments Current assets 58,354 76,380 (10,242) 913,409 971, 763 76,380 {10,242) Creditor5 due wthin one year Total 124,492 913,409 1,037,901 Page 17