Dlcklnson Massey UrtderwDod Gill Trust Trnstees, Report and Financial Stat¢ments for the Year Ended 31 December 2024 Registered Charity Number 213884
Dkkfin$o M45sey Underwood Glll Truit Financial St&tements ror the Year Eded 31 December 2024 Contents Pa Report of tht Trustees Report of the Indep¢nd¢nt Examlner Statenieut olFIAanelal ActiTAtle5 Iln¢luding Income and Expendltyre Account) B#l#nce Sheet Notes to the Flninclal Ststements 9-16
DickiR50n Ma$w Underwood Clll Trust Report of the Trustees for the Ytar Ended 31 December 2024 The TNstees present their r¢port and the financiat $tat¢m¢mts for the year ended 31 D¢¢¢mber 2024. The Fin}Cial Statem¢nts Ctstnply with the Charities Act 2011. the governing do¢ument and Accouiitin8 and Eieporting by Charitie5' Statement of R¢¢ommended Prdctice applicable to charities preparing their&¢counts itl accordance with th¢ Financi81 Reporting Standard applicable it] the UK and Rcpublie of Ire18nd. urPu Th¢ pwpose of the Charity is to relieve need. hardship or distress of persons Tesiding OT fonn¢rly resident within the City or County of Nottingham, Lincoln and Lincolnshire Derby and Derbyshire. Exceptionally assistance may be given to per50n5 who do not meet thi5 residejjtial qualifi¢ation. Preference rDUSt be given io persons wbo are Christians. This objective is &¢hieved by the payment of quarterly payments to individuals and OneOff grattts to individuals or OTgani5alions wlio meet the above crit¢ri8. Publlc B neflt The Charity provide$ 8 regular quarterly payment of £350 to be#eficiaFie5 who are regularly visited by the LJdy Visitors of the Charity- Additional winter grant of £450 have been paid tts beneficiaries to help wsth risiiig fuel bills. tn addition to the regular payments. one-off grants At¢ awarded wh¢ ther¢ is greai hardship, e.g. the purchase of a new bed or fridge is required. The Tnjstees etsnfirn) that rhey hdve complied with th¢ir duties wid¢r S¢ction 17 of the 2011 Charities Act with r¢8ard t(p public benefit. Achievement$ and PerfomAnce During the year the Trustees paid regulBr p8)ryn¢nts to between 21- 24 (previous y¢ar 23_25) individuals L¥n a quarterly basis. In addition, an additional payment was made 10 20 (previous year 261 individuals lo a5SiSt wid) their rising heating Sts. A total of £3.295 othw grwts w¢r¢ Also paid during the year. lal Revlew The Charity'5 work is almost entirely reliant on income and investment returns from its endowments. In¢ome foT the year amtsunted to £68,251 of which £41,712 was expended in grants and donations, and £3,525 was expended on pas¢oral work. In contrast to re¢eni years. this Saw a sU1S of Income over Expenditure. The surplus was £2.184. Jn the reportÉng year there has been an increase in th¢ valu¢ ofinve5tment5 in quo*d $har¢s. Nei unreali$cd gains for the y¢ar are £81.982 and realisatiolls have been Jnade with losses of £1,717. Cash deposits may be used for futurc strategic investrncnt upon the advice of the investment brokers. At 31 Deceinber 2024 th¢ Charity's total funds amounted to £2.100.170. ThÉs is nude up of EndowmcDt Funds of £1,995.928 and lllcom¢ Funds of £104.242. Pranci al Fundl Sources Income Is generated from th¢ Charity'$ inv¢slment$ and bank d¢posit& which ar¢ held Sp[fICallY to provide in¢om¢ to ettabl¢ charitable payments to be made.
Dl¢ki#$on Massey Underwood GIU Trust Report ol the Trustees for the Yfgr Ended 31 December 2024- ¢ontlllued Inv tm J)t and Reserves P li¢ The Twsiees have established a policy whereby the unrestri¢ted genera] funds not eommiited shtsuld be invested in interesi-bearing bank accounts or other income-generaiing fomi until requircd by the Charity. The Trustces ensure that enougb funds are held in resetve to be able to continue the present level of activity for a p¢riod of between six months and one year, in the event of other sources ce4sing, to be able to pay all liabilities arising in the event of the Charity ¢easLn8 to exÉ$t. Investrnents held are deSIted for th¢ purposes of earning incom¢, from which the annual grants and expenditur¢ are to be met. As of 31 December 2024, £103,315 {2023.. £102,161) of the endowmellt filnd has been attributed to the income fund tt> assisi irt covering ¢xpendinwe.
Dl¢klDson Ma55ey Underwood Glll Trust Report •f tbe Trustees for the Yefir EDded 31 December 2024- continued Reference and Admln tr9tlve Informatlon Charity Name: Di¢kinson Massey Undenvood Gill Trnst Charity Registration Nurnber: 213884 Principal and Operational Address: POBOX 11228 Nottingham NG14 6YY Trnstees.. Mr R Bullock Mr C N Cull¢n Mr B Dunn R¢vd. C Fotd Mr J C Foxon (Chaiman) Mrs A Gregory Mr5 J D Moore Mr C J Powell Mr D J Towers (Resigned 25.1.251 Mr J H Treece Dr P Sibly (Resigned 17.6.24) liebe¢ca Cragg-Darroch (Appointeil 25.1.251 Harry Peter Townsend {Appoittted 25.1.25) Clerk to the Trustees.. Ms A Chandl¢r Bankers and Fund Holders: Barclays Bank- London E14 5HP CCLA Fund Managers Limited- London EC4R 3AB Indq>¢ndeni Examxner.. Mr M Brady FCCA TC Group Cliffe Ilill Hotts¢ 22-26 Nottingham Ro&d Stapleford Nottingham NG9 8AA Investment Advisors: RBC Brewin Dolphin Ltd 35 Stauott Street Waterfront House Waterfront Plaza Nottingham NG2 3DQ Sarasin & Partners LLP Juxon House 100 St Paul'5 Churchyard London EC4M 8BU
Dickin50n Massey Underwood Gill Trust Report of the Trn#te¢s for the Ye4r Ended 31 December 2024- Continued strtthre Goyernanet and Man ¢ment vernin document The organisation is a ¢haritable tlU5t governed by 8 Scheme of Arrangemeiit. approved by the Charity Commission effwtive from I l May 2007 as atllended on 20 Ociober 2017. Ov¢Tall the Schcm¢ broiighi togeiher th¢ fovr foTmer charities known a$ Mary Dickin501a'5 Charlty, Dr 1s2a¢ MAssey'5 ChaTity, Thoinas UndeLlV¢)od's Cha¥ity at)d Fran¢is Butcher Gill's Charity. all of which had broadly Similar Obj1]V¢s. itmeni and 8 ointment of There may be appointed up to hv¢lve trnst¢e5, with 4 miDimum of six tNses. Trustees appointed for a tern) of four years. New tn]ste¢s ar¢ made aware of their respon$ibiliti¢s by the other Trustee$ alld VaTiOU5 appropriate Charity Commission publi¢ats"ons. anisational struciure The Trustees meet quartttly and #re responsible for the strategic dire¢tion and policy of the Charity. They are from a variety of backgrounds relevanr lo the needs and work of the Charity. A number of tnJst¢¢s from a financial background ¢OTnPri5e a Finance Coinmittee to superyise the trust's fEnanckal matters. Grant plicationS above £750 ne¢d to be considered by all Trustee5. ATLythin8 urgent below this amount can b¢ con$id¢red by the Chairman and one TDJst¢e. Mllnagement of the Chariry's investmellts is mostly delegated to their flnancial advisors, within a framework set by the Trnstc¢s, to provide both income for the cuEr¢nt year and growth for the fUre. The ongoing administration of the Charity is dele8ated to the Clerk to the TDJslees, wlw is app)inted by the Twslee5. The Clerk, who was previously acung as aTE employee of FEeeths LLP, is now self-employ¢d. Risk Man tmeD¢ The Trustees have conducted a revi¢w of th¢ major risks to which the Charity is exposed. Risk5 are minimised by th¢ delegation of management and administrative tasks to approprifftte professitsnals. Investments are managed by financial advisors. all individuals to whom quarterly payments are paid are seen by one of the Visitor¥ who report to the Tste¢S at the quarterly meetings. Deci5ion5 regarding grant payments are nomially made at the quarterly trstCe meetings. In urgent and exceptional ca5e5 decisions 2re made by a duly appointed sub-committee. Tru$te¢s' Res oTrsibillties in rel ¢lon to the Flnanci41 Sttement$ The TNstees are responsible for preparing the Report of the Trustees and the Ftnart¢ial Stat¢m¢nts in accordance with applicable law and Uniiea Kingdom Gcnerdlly Accepted Accounting Pracii¢e. The law applicable to charÉties in England and Wales, the ChariiiesAci 2011. Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed require the Ttwstees to prepare Fknallcial Staternents for each financial year which 8iv¢ a tw¢ And fair view of the state of affairs of the Charity and of the incorning r¢sources 2nd appli¢aiion of resources, including the income and expenditure of the Charity for that period. In pr¢paring those Financial Statements, th¢ Trus¢¢es are required to.. Select suitable ac¢ouniing p)li¢ies and apply them consisi¢ntly' Observe th¢ methods and principles in the Chariries SORP. Make judgements alld estimates that are reasonable and PDJdent; Slate whetberappli¢able UK accourtting 5tandard8 hav¢becn followed. subjectto any material dep2rtur¢sdis¢losed and explain¢ii in the Financial Statemeuts: and Prepare the FinaTJcial Statem¢nts in a¢¢ordance wÉih applic&ble law and UK Generally Accepted Accounting Practice.
Dltklnson Ms5ey Underwood Gill Trust Report of the TThstees for the Yer Ended 31 December 2024- Contlnyed The Trustees are responsible for mairltaining proper accounting records which dI10$e with reasonable accuracy at any lime the financial position of the Charily and to enable them lo ensure that the Financial Statements comply with th¢ ChaTLIic5 Act 2011. They are also responsible for s&fe8uardin8 the assets of the Charity &nd hence for taking Teasortabl¢ steps for the prcvention and d¢ieciion of fraud and other irregularities. This report has b¢¢n prepared in aceordance with the Siatem¢nt of ROrnM¢Dd¢d Practi¢e'. Ac¢ounting and Reporting by Charitie$. Approved by ihe Tru5tee5 oR?110!2025 and signed ot) th¢ir behalf by: J C Foxon- Tru$lee
lthdependent ExAmlner'$ R¢port To the Trusteeg of Dlekinson M8$8ey Underwood Gill Trust I report to the Truste on my &utDination of the Accounts of Diekinson Mossey Underw(M)d Gill Trust for the year ended 31 December 2024. Responslbllltles and basis of Teport As the charity tNstees of the Tn1 you are r¢5ponsLble for the preparation of the accounts in aordance with th¢ requiremen15 of the Charities Act 2011 {"the Act"). I report in TCSP¢¢t of my examination of the Trust's ac¢owits ¢arr%cd out under section 145 of th¢ 2011 Aci and in caIryiDg out my examination I hav¢ followed all the applicable Direct%ons given by the Charity CoinmissioTr under Section 145{51(b) of the Act. Indcpertdent Ex8mkner'$ stgtement I have completed my ex&minatioii. I conflnn that no material matters have come to my attention in conne¢tion with the examination giving me ¢ause to believe that in any mar¢rial respect.. a¢¢ouoting records were not kept tn r¢spect of th¢ TFUSt as required by section 130 of the Act., or Ehc accounts do not accoiyl with thobe record5', or 3. th¢ accounts do not comply wkth the applicable requirenJ¢nts ¢on¢¢ming the fom and Content of accounts set out ia the Charities (ACllts and Report5) Re8ulations 2008 0th¢i than any requiretnent that thc accounts give e 'tThe and fair view. which is not a matt¢r ¢onsidered as part of independent examination. I hav¢ no coemS and have come aeross no other matters in connection with th¢ exwnination to which airention should b¢ drawn in this report in order to ¢nabl¢ a proper undthslandin8 of the accounL8 io be rea¢hed. I,.J4 Mr M Brady FCCA TC Group Cliffe Hill House 22-26 Notiit)ghatn Road Stapleford Nottingham NG9 8AA Da¢ed.. 2 1
Dleklnson M4$5ey Underwood Glll Trust Statement of Flnan¢l#l Aetivltles (Including Income Ind ExpendÉture Account} for tbe YeAr Ended 31 December 2024 C8pit81 EDdowmeDt Year Ytar 2023 Fund 2024 Nott Inv¢slmenl Jneome Bank Inieresl Donations and Oiher Income 67,922 90 67,912 60239 239 239 794 TOTAL INCOME 61.199 EXPENDITURE Co•ts of Ralslng Funda Admittistr81iott Cha$ 10.589 910 11,499 9,663 Exptndltsrt on Charltabl¢ A¢tlvltle$ Quarterly Paytnents Christm&% Bonuses 4nd Heali1)8 Grav15 tQ guanerly beneficiories Othcr Grants Visitoys. Salaries, p¢nsions and Exp¢nsc5 Clerk% Fe¢s linclud2ng Iokeeping and quarterly accounts Ac¢ountsncy attd Indq)ertdeot Examiner's 29.517 29.517 35,(X)O 8.900 3.295 6,550 8.900 3.295 6,550 6,250 1.989 5,810 13200 13,200 15.166 TOTAL EXPENDITURE {10.5891 2,184 18,4051 (15,1041 Net Gain(SseS) irt knv¢stmcnt Ass¢¢s 80 65 r4ET INCoMEIIEXPENDuRE1 AND NKT 5MOVEMENT ITr4 FUNDS 69,676 2,1 71,860 63.463 TrxDsfer B¢twet* FuDds RECONCILIATiof4 OF FUNDS: FuDd Balan¢¢s broughi forward al l Januory 2024 1926 252 102058 2,028310 FUND BALANCES CARRIED FORWAiiD AT 3J DECEMBER 2024 1995 928 2 ILK)t70 2028310 Th¢ Statement of Financial Activities includes all gfftins and losses reeognised in tho y¢ar. All incomc and eKpenditure deriv¢s from coAtinuin8 artiviti¢5. The noteb OD pages 9 to 16 fomi part of these accounts.
Dicklnson M*5sey Underwood Glll Trust BAlanee Shett 8$ 8t 31 Dccember 2024 2024 Réstatrd 2023 Note TANGIBLE ASSETS Investhjents al Valu¥iion Cash htld by broker for re-irtVa5tment 2.081.316 10.758 2.005.134 Total TIMElblt Assets 2,092,074 2.022.160 CURRENT ASSETS DebtOTS PrepayJn¢nts Cash al Bank 7.169 6253 7,991 TotAI Curr¢nt A55ets 15,880 14.244 CREDITORS DUE WITHIN ONE YEAR.. Othercreditors NXT CURRETff ASSETS NKT ASSETS 2 100.170 2.028 310 THE FUNDS OF THE CHARITY: CAPITAL ENDOWMENT FUNDS 1.995.928 .926,232 INCOME FUNDS Genersl Fund 104,242 102 058 l(M.242 102058 TOTAL CHARITY FUNDS 2 100.170 2028310 2211012025 Approvedby¢h¢Tru5tees on.............................. aÉJdsiglledontheirbehaifby: FoxoD- Trustee The notes on pag¢s 9 to 16 fomi part of these accounts.
Dl¢klnson Massey Underwood Glll Trust Note5 to the FlnAn¢l#l S¢atement5 for the Year Ended 31 Deecmber 2024 AceDunthiE Pollcles The prin¢ipal accounting policies ar¢ sumrnarised below. The accowi¢ing policies havt been applied con5isienily throughout the year and in the preceding year. Bs15 of Ac¢ouDtlng The Financial Statements have been pr¢pared in a¢cordancc with the A¢counting and Reporting by CharitÈes' stst¢m¢ni of Recommended Pra¥tiv¢ gpplicable to Charities preparing their aGoounts in accordance witb the Financial Reporting Standard 8ppli¢able in the UK and Republsc of Ir¥land (FRS1021 effective on I" January 2019 attd the Financial Rerting Standard applicable in th¢ UK and Republic of Ireland (FRS102) and thc Charitie5 Act 2011. Assets and Itabiltties are initially r¢cogEJised at historical cosi or transaction value unless otherwise stated in the relevant accounting policy oote. The Charity ¢on$iibJtes a public benefit entity as defAned by FRSIO2. The Trustees. consider thai there we no marial uncertainties about tli¢ Charity's ability to continue a5 a going cort¢em. The occounts are produ¢ed in Sterlin8 {£). Fund Ac¢ountlng Income Funds ¢an be used in Accordance with the Charit&bl¢ Obje¢ttves ai ihe discretoll of the Trustee5. Capital Endowment Fund capital is retained. Income can b¢ used in accordance wilh the Charitable Objectiv¢s. Incom¢ All in¢ome is included in th¢ Statement of Financial Activities when the Charity i5 entitl¢d to the in¢ome and the amountcan be quantÉfied wsthreasonabl¢A¢¢ura¢y. The followillg specific polici¢5 are applied to particular categtsries of income.. Investment income including interest on fimds held on deposit is recognised according to its due date of receipt. Monetary donations are re¢ogtti5¢d when thc charity ha5 received the relevant remittan¢¢. Dot)ated services and facilities are recogni5ed 85 kncoine when the Charity has coiitrol over the itein, any conditions a£(1ted with th¢ donated item h8ve been met, the receipt ofe¢onomic benefit fTom the use by the Charity of the item is probable snd that econom2¢ b¢nefit Can be mcasurcd rcliably. On receipt, donated services and facilities are recognis¢d OD th¢ basis of the vHlue of the gift to the ChaTlty which is the amount the ChaTity would have b¢en willing to pay to obtain services or fa¢iliiies of eqtsivalent economic benefit on the open mark¢t' a corycsptsnding atnount is tb¢n reeognised io expenditure in the period of receipt. where thi5 ¢&n b¢ quantified. No value Ès placed on the services provided without charge of the Trustees. EipeDdlture Expenditiire is r¢cognised on an accruals basis as a liability is in¢urred. EKpenditure includes VAT which cannot be r¢¢overed and is reportcd part of the expenditure to which it rclates.. Cost5 of raising funds comprise the Costs associated with generating th¢ inyestsnent sn¢ome. Expenditure on charitable activities comprise5 those costs Illcu¢d by the Chlty in the delivery of its activities and services to its beneficiaries. It includes both ¢o$t$ that be allocated directly to such activities aud those costs of an indireet natur¢ Th¢SSary io support them.
DlcklnsoD Massey Underwood Glll Tru$t Notss to the FlThancl81 St8t¢meDt$ for tht Year Ended 31 Dec¢mber 2024- eontlnued IDvestmeMts Investments are stated at their valu10 on the Balance She¢¢ date provided by the Chakity'5 Stockbrokers. Realised and unrealised gains on investments are r¢fl¢cted in the Statemthjt of Financial Activities. Realised galns and losses All gaÈn5 and losses are takcn to the Statemcnt of Finan¢ial A¢tivities as they aT15¢. Rea15sed gains and losses on inves£rn¢nts are calculated as the diffcr¢n¢¢ bctween sales PTOCEeds and theiropening carrying valu¢ orthcir puwhas¢ value if acquired subs¢quent to the fiTSt day of the financial ycar. Penslon ContrEbutloD$ Employee5 of the Charity are entitl to join a defjned contribution 'money pur¢has¢' scheme. No eontributions are ¢utt¢nlly due as no current employe¢ is in the scheme. The Charity contribution is restricted to any [thcl contributions disclosed in note 4. There were no ouL8thnding contribuiions at the year end. Thc Money purchasc plan is managed by NEST and the plan invests the contributions made by the employee 9d employer in an investment fund w build up over the term of th¢ plan. Txxation The Charity is exempt from tax on its charitable activiti¢s. D¢btors Debtors are recognt$¢d at the settlement amount owed to the Charity orpr¢paid. Credlto Creditors dnd provisions are recognised where the Charity ha5 ¥4 present obligation resulting from a pasi event tl)at will probably result in th¢ iransf¢r of funds to a third paty, and the amount due to setile ihe obligatiot) Can be measured or estimated reliably. Creditot5 and provisions are norn)ally recognised at their settlement amount. k. FlTranelAI Instruments The Charity has fjnancial 8$sets and fix)ancial liabilitie5 of a kind that qualify as basic fJn8n¢i81 in5trum¢nts. Basic financial &trumentS ar¢ inilially re¢ognÈsed at transaction value and subSentlY measured Jt their settlement value. Donated Services, Cood And Facllltles Donated seTvi¢es or facililies are recognised as in¢om¢ when the charity has control over the item, any conditions asso¢iated with the donatcd ttem h&ve been meL the receipt of economi¢ b¢n¢fit from thc use by tlie charity of the Elem is probable and that economie benefit can be Tncasur¢d reliably. On receipt, doTLated serviec$ and facilities are recognisd on the basis of the value of th¢ gift io the charity which is the aOunt the Chlty would have been willing to pay to tsbtain services or facilities of equivalent e¢otJomic bellefit on the open market. a corr¢5ponding amount is then recognised in expenditure in the period of receipi. Judgement Key Sources of Estlm#tlon Uncert4lnty The preparation of 0¢¢0unts usin8 senerally at¢¢pted a¢countÈng principles requi mana¥¢m¢nl to mak¢ estimates and assurnptions that affect the r¢rt¢d amounts of assets and liabilitjes at the date of the aecounts and the r¢ported amounts of r¢vo)u¢s and expenses during the reponing period. The key cstimate$ and a&sumptions used in th¢ FInala1 Stat¢m¢nts are detsiled in the accounting policies. 10
Dl¢klnson Massey Underwood Gill Trust Notes to the Fin4n¢ial Statements for the Year Ended 31 D¢ce]nbtr 2024- contlnued 2. INVESTMENTS AND INCOME ook Vilue M•rketVilue P4tt 2024 2014 24 2023 Jlinfi7Ath 10.)70 IQ370 l9th70 19,670 925 33J40 1373 Ab¢tQccTr $MNdardLife- FropEan Ifomwrly Stthhthtd 375 IThrrKO.25 USD 189 15.702 l3.4YX) 330 Aihtc&d 3JO 15.961 15,904 350 278 Ltd Incorlle DUNiL%Tnt 10.oryi 32,874 13,140 36,885 DP25 cen1& Usord 15Q 35,769 24,170 28,668 1.459 BNYMcll TJJ 120.126 97.818 lQ6.1kn) 3J75 1.868 CokaLesfyMvlli5bat 35,096 35x86 34J39 36.036 l)47 CRODA 490 .87J 21873 l6J87 24.745 529 DJ•geo 21,964 20) Dodgc and Cox 302 24J94 529 FithliiyUCIT 15.1 3,0 71.84J 129.375 2J83 Fk%tSenh¢rknveStsJJaJt IiJ09 3?0 QSK otd>Jp 1272 1.2r2 3,287 3287 18.447 776 fr14leon PLC(derrr8exfK) 160 160 16.4539 I39 13248 149 HKL i?,( 17,( 20,J96 23.562 1.403 700 HSBC HoWuJ¥BDnd 25JM U.( 20,855 260J3 ,4Ai 26.Q43 Inl Partnerord Ip 12.J 14.wj 14.990 l.Q46 23J21 2] J21 3&,8 JQ757 928 759 Invt*r¢ 15.988 17.549 15.66J 433 ICVCSicriingCorp Bond 42.417 42A17 51,1fy) 3A22 2.049 582343 489,tW4 69B,810 25.871
Dickinson M*ssey Undenvood Glll Trust Notss to the Flnanclal Statements for the Year Ended 31 December 2024- continued 2. INVESTMENTS AND INCOME- CONTINUED MtyketVAlue 2913 Z024 2023 F4 2014 2•24 1423 r¢rytht FDrw4rd 582.243 489,044 588.124 Isbtrcs PLC SJ75 70.0fy) 39.726 2,560 t.5 InsiBhTInv JPMo4a# AM UK US Fquiiylnconjec In¥¥ 57.726 57.726 97.146 118 JPMw)PMGBL 11,107 11,915 4T7 Juprf¢rUnitTtust (rfJ.Iw 36.342 56.342 47,596 45,IX¥J 45.( 49,067 49.067 53.685 ioJ i¥,W2 24.IZ9 26J66 2,166 K¢ 346 345 &G CknribDnd Redwtrrtl Funds{KWCI 356 75, 75.( 24,486 Nalional fjrid I1.4r]pOrdi IA877 14,548 970 762 Trleblle 13.2 9,233 Mwnch 14.545 14.5 14.l44 J4,190 630 Ninely (h 60.WO 6QI 5¥.47B 54,396 54.W) 1642 1381 2JQ PjciricAd1TDjsl 12.5poTr1 PIDJ Prudtrtltg15p IM&G Plc> 9,064 231 Rio Tini1> Iopord 41N) 23.368 1292 RiiC¥pPinncrnOtdCBPI 352 Rdx 7,388 ?J88 12.44D 224 Ipord 13.XW) 13.5 22.780 22.780 3&1JS 34.222 Ih20 Scot115hMDrtyB¢ Inv TtyitUp Old 7W5 9.999 63.3fi7 12
DickInso Ma$sey Underwood GIU Trust Nt)tes to the Financial Statement$ for the YeAr Ended 31 December 21124- eontlnued 2. INVESTMENTS AND INCOME- CONTINUED Bookvlllue 2023 Mllrktt N¢t lo¢ome 2024 2DIJ 24 21J23 2024 io 2023 P4 BrougF¢T1rd 1.334.849 ,2$8J14 39.881 &EthNephEw 1,48 1S,962 448 g)tll Pl SSGA 1250 1250 67.933 67.933 71&12 1.461 TBiiky£7B E¥thL) UK4.25 BO.000 o,ooo 79,738 79.73 84,121 JJ94 1.27$ UK4. 30.00 30,618 JO.645 JO.346 lJ50 07$ UKStwkO.125% 26 TRPryettylNV 100 lQ600 30571 Jos71 36JOS 1.64J AM 82? Unileverjl llpot 500 JOD 37.740 19.iw 734 IVD IOA 25.025 12.479 Jl,229 36.927 345 TOTAL ItBC BREW]N DOLPHIN 9.92 460 51.4 Awa CIFfor ERdwm¢nLS 156,000 3J8.WO 492.856 TOTAL IP41TsfMENTS 1.647.679 l.fW.92fl 2.081,Jl6 2.$.1)8 67.9Y2 339 OTHERADMINJSTRATION CHARGES 2024 Stockbroker fe Sundry Costs 10,589 910 9.036 627
Di¢klrt$oR Mxssey Underwood Glll Trust Note$ to the Flnancll Sttements for the Ye¥r Ended 31 December 2024- eontlnued STAFF COSTS AND NUMBERS VisilOJS' Solaties Visito. P¢nsions Visitors. Expcnscs 6J(X) 5.776 34 250 No. No. Numberof parttime employee5 No e]nplayee received r¢mUn¢r1on of more than £60.0. TRUSTEES. REMuf4ERATIof4 No tntees. r¢muncraÈion or other bcnefits have been paid for the year ended 31 December 2024, nor for the year ended Jl Dexernber 2023. Trustees. Exp¢n$es No trustee5' expenses hav¢ been pid for the year ended 31 December 2024. nor for the year endEd 31 Dtcember 2023. RELATED PARTIES There are no related party tr2nsa¢tions. NET INCOME Net income is stated after charging.. Independent Examin¢r's F¢¢ Independ¢nl Examin¢r$ Fimi's Fees for Accountancy and Payroll 2,700 450 2,425 216 INVESTMENT MOVEMENTS RBC Br¢wln Dolphi SarAsln & Pa*tnEr mÈrk Vo]ur brou8ht fonvDrd l Januw 2024 Addiuons DI C051 Disp)5al ai CatryingTrnnsf¢rValuv Nct OaiTr&llLos3¢51 OD Revhluaiio Market V4lut ¢4rried forward 31 tknmber 2024 453.738 )0 133.437 1139,2371 1 588 460 492 856 Histori¢pl C4>5t al 31 DKember2024 1289 679 Gkinoo RBC BTEwin Dolphin IDveBJnenrs Gain on SarHsin & Partners InvL%knltnL% Nw GaiDs1{L4)ssc$}on Inwtyithttsts Soldlntrto91 42.864 Gaill on 7CtmlS in the yeÈr 80.265 14
DlcklDson Massey Underwood Glll Trust Note5 to the Fln8n¢l8l Stotemtllts for the Yur End¢d 31 December 2024- roBtiDued INVESTMENT DISPOSALS VluAtits# lo105127 Trr LNt¢r Msrk¢t V•l4¢ it Iiir21124or Pr0flVO1s) ProtÈÈd$ DLpos5tl Scouish Mott888¢ 5.835 9,999 63J07 63,641 334 Firs1 S¢nli¢T 5,WO 9.471 11,209 IOJ97 W IkvcnW¢ 15.025 18.750 21308 22.681 773 PEudenLial 1.500 13J08 I l J29 11,979) Smith & Nephew 1,480 21.85S 15.962 14,579 Kon¢Dyi 346 20.785 14.693 IJ7 20 10. INVESTM£IYT ACQUISITIONS 2024 Cost No. 800 5,350 13.000 10.000 2.000 425 SHVO Diago FDDI Shares FDEQ BNY Mellort FDEQ Blackrock FDDI Fidelity SHVO Fastenal National Grid 21.964 27.942 22,385 19.896 15.865 22,799 133 437 15
Dl¢kln$tsn Ma55ey Underwood Glll Tru8t Notes to the Flnanclil Stlements for the Ye4r Ended 31 December 2O24- torttltted 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS T&Elb1¢ A5ts CTr¢N¢ Ajsets Crrellt LIAbllltle5 Tothl 21J24 Fund5- 2024 Capital Fund Income Fund 1,988,759 103.315 2 092 074 7.169 1,995,928 2,100,170 Tk4lb]e sets CHrrt Amtts Current LthbllltlES 21J23 Fund - 2112 Capit¥l Fund lrtctsme Fund 1.919,999 102 161 2022 160 6,253 .926,252 102 058 14 244 10 12. MOVEMENf IN FUNDS At l J•thry 21124 Net Prfiv (Loss) IVe11ertts Tra$[r5 At31 Deeomber 1014 xperLdiMre Funds- 2024 Endowment Funds Income Funds 1.926,252 102,058 {10.589) 166.067) 80.265 1,995,928 104,242 68.251 Total Funds 2028 310 2 100 170 Net Prollu (t5£)1 At31 D¢¢euLb¢r l Jthary 2024 Ineome 2024 Funds- 20 Endowment Funds In¢ome Funds 1,856,721 108,126 (9,036) (67,267) 7B,567 1,926,252 102,058 61,199 Total Funds 1.964.847 78,567 2,028.310 16
Dickinson Massey Underwood GIU Trust Notes to the Fln#ntial Statements for the Ye*r Ended 31 De¢ember 2024- contlnued IJ. PRIOR YEAR ADJUSTMENT CORRECTION OF AF4ALYSJS OF NET ASSETS BETWEEN FUNDS During the preparation of the 2024 financial statements, i¢ was identified that the allocation olas5els and liabi]ities between the c4pitsl and income funds had bcen incorrectly rccogni5ed for the year ¢ted 31 Dcccmbcr 2023. Although this emrhad llo effe¢t on totsl income, expenditure. it did impact the presentation of the analysis of net assets between funds. The error has now been ¢orr¢¢ted through a prior year adjustment, and the compaTativ¢ figures for 2023 have been reststed &ccord&n81y. l Restated An8lysis of Net Assets between Fund- As at 31 De¢ember 2023 Fund {Aft¢r) Tanglble Assets Current Assets Current Liabillty Closing b91ance (After) (After) (After) (After) Capit81 Fund 1.919,999 6,253 1.926.252 lllcome fjjnd 102,161 7,991 18094) 102,058 Tot&1 Funds 2,022.160 14244 180941 2.028,310 Fund (Before) Tangible A$$e¢s Current Assets Current L5ablllty Closlng balAo¢e (Before) (Before) (B¢for¢) (Before) Capital Fund 2.022.160 {87.814) (8094} 1,926.252 Income furtd 102,058 102,058 Totsl Funds 2,022,160 14.244 {8094) 2.028.310 17