Charity Number: 213935 The Gordon Gray Trust Trustees, Report and Unaudited Finaneial St2tement$ for the year ended 30 September 2024
The Gordon Gray Trust Contents Pagt Referenee and administrative details Trusiees. report Ind¢pendent examineT5' report to the INsle¢s Ststement of financial aaivities Balance Sheet Notes to the fjnaneial statem¢nls
Tht Gordon Gray Trust Referenee and administrative details Status The charity was constituted by a Twst Deed da*d 22 July 1960. as amended by an Order of the Charity Comrni5sion¢rs dated 5 Augusi 2004 and Resoluuons of ihe Iee5 dated 23 Septeniber 2004 and 31 Au8USt 2023. Trustees MT M W Bath (froTn 9 February 2024) Dr B Gray Mrs M M Gray Miss R F Holmes Mr E G A Roberts Dr l Teague Mrs S Watson-Armstrong Clcrk to the tru5tee5 Mrs M A Grg4y Chatity number 213935 Indtpendtrtt txaminers Grant & Co (Accouniantsl Ltd Units 4 and 5. Roekfield Bu5inc5s Park Old Si8tion Drive Chelienham Gloucest¢rshir¢ GL53 OAN Bu$lntss Addrey5 GTang¢ Fami Bredon Tewkesbury Gloucestershire GL20 7FL BHnkers Lloyds Bank Private Banking 25 Grc5ham Sireet Lundon EC2V 7HN CCLA InvestmeTrt Managcrnent Ltd l Ang¢1 Lane London EC4R 3AB Solicitors Willans LLP Soli¢itors 14 Imperial Square Cheli¢nhom Gloucesier5hire GL50 IQZ
The Gordon Gray Trust Trustees, report for the year ended 30 September 2024 The trustees present their annual r¢pon and financial statements of the charity for the year ended 30 September 2024. The financtal siatemenis have been prepared in accordanee with the accouniiiig policies set out in note I to the accounts and comply wilh the charity'5 Trust Deed. the Charities Act 2011 and A¢¢ounting and Reportijig by ChaTities-. Staiemeni ofRe¢ommended Practice applieable io Charities preparing their a¢¢ounts in accordance with ¢h¢ Financial R¢portin¥y Standard 102 (effeaive l January 2015). Referenee administrgtiv¢ d¢tails S¢¢ page l. Structiire? governAnc¢ snd mAuagemetyt Gove1'Ing dociimeni. The Trust is govcrned by J T¢ t)eed dattd 22 July 1960. as amended by an Order of the Choriiy Commi&sioners dated 5 August 2004 and Resolutions of the ttusiees dated 23 Sepiember 2004 and 31 Au8usI 2023. 2.2 con.slithlioK. Th¢ TnLY is con411ed according to the above. Copies of whieh are held by the Charity Commission. 2.3 Appoinliiient ofti'iisl¢es. At the request of Ihe Charily Commission on 5 August 2(K. a Resolution Was passed on 23 September 2(N)4 increasingi the Inaximum number of trustees froin five to seven. The triistees in posi before this dale are eniiiled io hold office for life. Appoiniments of trustee5 aft¢r thal date are for thr¢¢ y¢ors: however. a retiring Irustec who is wmpeieJi(10 acl may be r¢apwJinied ai ihe end of their le of office. 2.4 Indiitlivn oJne)v Inisl¢es. New irusm are given details of ihe Chariiy Commissioii web5it¢ and relevant publications. iogdher with copies of govtrning documenis of the Tru5l its hi510ry. recent minui¢s and accounts and details of iheir rol¢ in its administration. ()i'RurtlsatioMlstnicliiiY. Regular trusttts. m¢¢Lings are lield thrtt (imes a year. chaired by Dr B Gray with interim telephgn¢ andlor email contaei on partieular issues when requircd. The Supplemental Deed daied 31 Aug115t 2021 provides a quorum for trusiees, medings shall be three Irusiees and that decision5 0¢ such meeiings musi made by a majoriry of ihe Irusiees pres¢nt and votinbj at that meeiing, rather ih8n ihe total number of tNsie¢s. The chairpersoii has the ¢aslinbT Vote. The qUOTum must in¢lude noi less than one family Iwsiee and not le55 Ihan one non-famtly trus¢ee. Trustees are encouraged to thk¢ a Continuing personal InreSt in ¢#uses for which they have reeommcnded a donlllion and repon progress. 2.6 Rlsk iiion&%L'iiwnl. The tru5t¢e5 have Considered any risks to which the TTUSt might be exposed. Th¢ increase in th¢ number of iruslees in 2004 tsllowed non-family member5 to be appointed to ensure Iranspar¢n¢y where a conflicl of intttest might arise. Th¢ tTU5*es put into place a conflicls of interest policy together with an accompanyinu register ofint¢re5ts. 2.7 Piiblic benefil siai¢ttwni. The Trust's purpos¢ is to provide finan¢ial support to ch8riiAblc institutlO115 or other Charitable purposes as approved by ihe Iruslees. Consideration rs 8Lven to appeals received and Irustees VLSlt local charitable organisaiions where appropriate. A¢knowledgements of donat10115 and annual r¢ports are checked io ensure that contribulions are being used accordiii8 to ilie wishes of ihe trustees. The tn15tee5 ¢onfimi (hai they have complied with Section 17 of ihe Charilie5 Ac(2011 with regard to the guidance of the Charity Commission in this respect. Objectives aDd Activities C)bjeL'livLlS. These as set out in Ihe Trusi Decd are defJn¢d as the payment of donations or sub5¢riptions to such charitable purposes as ihe trustees in their discretion think fiL 3.2 Acliviliv.%. The fiwancial suprort of SUTtable charitable organisations. The mana8cment ofthe Trusi's assets in land and property. There are no activitLCS through subsidiary organisations. 3.3 Aims. To support a variety of causes. both national and ovu5. The intention is to provide financial assisian wh¢r¢ it is most needed and smaller l(Kal charities are often supported where there is minimum of administraiive cost. Each trusiec is encourag¢d io be aware of particular needs for charitable causes they have proposed and to SueSt additional fijnding where appropriate. ThEy are a150 expected to report if a charity has closed down or is longer in need of 5UPPOrt.
The Gordon Gray Trust Trllstees, report for the year ended 30 September 2024 3.4 Ma1 r)hjL'cÉivesfor iheyear. Continuing 5UPPOrt for: Medical charities. Welfare of children and the elderty- Environmental and l(Kal (Kganisation5. 3.5 Siroiegiesfor achieving ihe objecliws. Many applications for fuThJing are received. These are each read by one or more tn]siees and the mosi appropria are pui forward for ¢onsideratioJi at rhc trustc¢s' meetings. For administrative purpose5. the lisl of recipients is spli¢ in(0 two &yroups I'medicall disabiliry, and 'other'l and donations ar¢ mad¢ to ¢)ne of (hese groups. usually iii spring and alltumn; however, as the liming is abitrary. the trUee$ have some discreiion dependent on particular need. 3.6 Grani-makingpolicies. Donations are made to re&¥istered charities. It is noi a policy of the Trus1 to support individuals. The principles of the Trust's 1](1¢5 arc as sei out on the Charity CornrnLSSion websit¢. Achievements and perfomance uchieiviiienis. Support for selecied chaTili¢& giving prefttcn¢e to those demonstrating 'value for mtsn¢y' and a minimum of administrative expen. Organisalions involved in rnedical aTrd 50cial welfare have particularly beTtefited. together wi¢h those involvcd in the conservation of cliuw11¢5 and the countrysid¢. Major neficIarIeS includ¢ Avon Naviualion Trust {£IO.O(K)l. Diab¢t¢5 UK 1£4.000}, Midlands Air Ambulance Charity1£6,(M)O). Si Michael s Hospice1£4.0001 ai)d Si Ricliard's I losijice {£4,000}. The iolal sum of all donaiions for lh¢ year was £142.900- s¢e the li51 of donations in¢liid¢d in the financial report. 4.2 P¢iy¢wmanc¢ obj¢*¢'lI3. No specific perforn)3nce objeciives ve been put in plice. 4.3 Fiirtdruislng. The Trust is not involved in fundrnising activities. 4.4 Fiiliir¢ incoirnp KeneralioK amlmolerial exp¢ndi1ii. The inct)ffle of Ihc Trust is derived from.. Inieresi paymenis from investments in CCLA subjeth io a management charge. Reni on farm land and building& Nom)al protKrty Maintence applies. Reni from iel¢communi¢aiions mists on fam) land. Exierrtal inJliK'nc¥s onrfOrCe. The major part of the Tntsi's income is from lis investinents in CCLA. As notcd in ihe trustees. report for ?016. a proporti7 of these inve5tmenis was movcd from the COIF Charilie5 tkposit Fund to the COIF Charities Investment Fund, with a Inucli improved retum. Flnancinl revlew Reserves. Money is held in reserve to allow for: Donations to additional charities throu8hout the year. Maintenance of Trust prowty. Total funds are £6.663.930. Freehold prot¢rty is valued at £2.450.000 and investmcnts at £3,918,174. The liquid r¢seTr¢s are £295.756. 5.2 Ftinding soiirces. Return on investments and rental income. .¥iipporl ofkey objeclive.$. By consisten¢ support of suitable cliaritie5 as agreed by the trustees. 5.4 Inves1nnIPoIicy. To cnsure the TTU5t'S 5hort-iem income needs are balan¢ed with longer-temi growth prospects.
The Cordon Gray Trust Trustees, report for the year ended 30 September 2024 Future developments dpjeciivL'S. The aims and objeciives of the Trust are unchanged (stt above). 6.2 Aclivities iindertoken io h$eve oinis andobjeclive5. Th¢5¢ include regular review of donations and the personal inieresi given to this by all tn15tees. Statement of trustee5' resnSibIlitieS Charity law require5 the trus1tt5 lo prepare financial statemcnts for ¢ach financial year which give a true and Fair view of the stale of affairs of ihe charity at the year end and of its ineoming resour¢es and resources expetxl¢d during th year. In preparing those financial staiements. the trus¢ees are requirLd Select suitable accounting policies and ihen apply them consistcntly. Make judgements and estimttes that ar¢ reasonable and prudent. Prepare the financial statements on ihe goi eoncern basis unltss it is inappropriate to a$sum¢ that the charity will continue in busine5S. 7.2 The trustee5 are responsible for keeping proper aecounling T£rdS which disclose with Teasonable accuracy at any time ihe finala1 posiiion of the charity and ¢nable ihem io ensure thui the financial siaiemenis comply with the Charilies Act 2011. They are also responsible for feguardinl ihe asbLts of the charity and h¢nc¢ for taking reasonable steps for the prevention and dcteciion of fraud and othcr irresrulartties. IDdep¢nd¢n¢ e¥amlners The tru5es wommend ¢hai Grant & Co (Accounianisl Ltd remains in office until further notice. This report was approved by th¢ irustees on 21 February 2025 and Sign on (heir behalf by.. Dr B Gray Chair of Trustees
The Gordon Gray Trust Independent examiners. report to the trnstees on the unaudited financial statements I report on the financial staternents of The Gordon Gray Trust for the year ended 30 Septetnber 2024 which eomprise the siaiemeni of financial activiiie& the balance slth alld the related noies. These finan¢ial statements have been prepared under the hisiorical CO conveniion and the 2ccountin8 p(>li¢ieg set oui therein. e5pective responsibilities of trusiees examlners A5 rhe charity's trustees you are resixjllsible for the preparation of the occounts alid you coiisider ihat the audit requirement of Section 144{2) of the Chariiies Act 2011 lih¢ 2011 Act) docs not apply. It 15 my reswnsibility to: examine the aecoun15 under Section 145 of the 2011 Ac(. follow the procedures laid down in the General Direciions given by the Charity Commission (under Sedion 145{51(bl of the 2011 Act): aTKI 51ate whether porticular matters have come to our attentLOn. BR$1$ of ind¢p¢ndent exAmlners' report My exatninati()n was rrIed oui in accordance with Ihe General Direction5 given by the (Tharity Commi5sion¢rs. An examination include5 a review of the accouniiftbv r¢¢ords kept by Ihe ¢harity and a comparison of ihe fiJian¢ig1 stai¢menis as prc5¢nted with th05¢ r¢¢ords. It also in¢ludes wnsid¢Tation of any unusual iiems or disclosures in thc financial statements. and seeking explanations from you as trudees ¢on¢erning any such matter5. The procedure5 undLrtakeJi do not provide all th¢ evidence thai would be required in an audii, and consequenily I do not express ai) audil opinion on th¢ view siven by the fjrhancial slaleineni5. Independent exAmlntrs' $t#lem¢nt In connection witli my examination, no matter hLs eometo my aiteniion.. (I I which gives me reasonable cause w believe ihat in any malerial reSpt the r¢quiT¢m¢n15 to keep aecourtting records in aecordance with SttOn 130 of the 2011 Act: and 10 PT¢pare financial staiemertts which aceord with the accouniing records and to comply with the accounting requirements of the 2011 Act and wilh the mcihod5 and principles ofilic Accouniinu aMI Reporting by CharitÉes'. Statement of Recomm¢nded Prdctice applicable to eharities preparing their ac¢tsiints in a¢¢ordan¢¢ with th¢ Financial Reporting &andard 3ppllCBble in the UK and Republtc of Ireland {FRS 102) {¢ffcctive l Jantsory 2015) have noi been met: or 121 io which. in my opinion. altention should be drawn in order to enabl¢ a proper understandins of the fLll8ncial sthtements lo be reached. R MrKeown Grant & Co (Accouniants) Lid Accounlant5 O¢J Unit$ 4 and 5. Rockfield Business Park Old Station Drive Cheltenham Gloucestershire GL53 OAN 21 February 2025
The Gordon Gray Trust Statement of fillancial activities for the year ended 30 September 2024 Unre5triettd fullds 2024 Note5 2Q23 Ineoming resou¢8 Incoming resourte5 from g¢n¢r4t¢d funds Other income Income from investments Inv¢slmcnt income Rent reccivable InieTesl receivabl¢ Total irtcomiAg re50ur¢¢3 102.398 31.044 12.059 145.501 104.933 8.659 146.198 R¢50urees expended Ch#ritAble gctivities Doiiiliions Coniribulions from r¢ntsil income Investm¢nt property repairs Offi¢¢ rcnt Travel Profcssional fees Sundry expenses 142.900 5.382 2372 1295 235 4.373 818 157.575 143,550 6.087 1.210 29 8.591 299 163,195 Governfinte costs I,n4 1.547 Total r¢sourceJ expended 159.299 164.742 Net Iresoure¢$ expendeil) before other reeognised and losses (13.798) 118.5441 Profit/lL¢>5s} on disposal of freehold inve51ment property Unrealised gaIn(lo55e5) 435,653 145.470 r4et movement In funds 421,855 126,926 Total funds brought forward 6242.075 6.115.149 TotRI funds carried fonvAnl 6,663.930 6.242.075 The notes the following page5 form integr41 of these financial 5tstemeDt$.
The Gordon Gray Trust Balance sheet as at 30 September 2024 l¥ot 2024 2023 Fixed Assets Fre¢hold investment property Investments 2.450.(M] 3,918.174 2.367.500 3.075.021 Currellt Assets Debtors Cash at bank and in hartd 4.927 30.1.159 308.286 804.124 809.568 Creditors: 8rnOllllt$ falling due w51hin one year Net eurrent #sstti 12.530 10.014 295,756 799.554 Ntt •Sg¢ts 6.663 930 6.242.075 Funds Unreslricied fuThJs 6.663.930 6.242.075 The financial slatemenls were approved by the trustees on 21 February 2025 and signed on their behalf by: Dr B Gray Trustee Miss R F Holmes Tntst¢¢ The notss on the following pAges form Intsgrnl of tbe5e fiDanciAI 5t8tements.
The Gordon Cyray Trust Notes to the financial statements for the year ended 30 September 2024 l Aecountang polieles 1.1 AccouDttDg convention The finan¢ial sthiements are prepared under the hisiorical cost convention whth the excepiion of freehold and investment property, which are Included ai market value. The fijntial statcmcnts hav¢ be¢n prepaTed in accordance wilh the Charittes SORP IFRS 102) 'Accouniing and Reporting by Charities.. Sratrinent of Recommended PTacliee applicable io charities preparing their accounts in a¢coTdance with Ihe Finan¢ial Reporting SiandaTd applicable in the UK and Republic of Ireland {FRS 102) leffe¢tive l January 20151., and applicable accounting siandards and wth the Charities Act 2011. 1.2 Fund nccounting Unresliicted funds are general fuTKls that are available for use at th¢ trustees" diseretion in fvrtherance of the objectives of lh¢ charily. De5ibvnai¢d funds are unrestricted fvnds set aside ai ihe discretion ofthe irustees for specific purpose5. The desi8nal¢d fund for the revaluation reserve is th&t part of unresirictcd fund5 that r¢pr¢5ents the revaluation of fehOld investinent property. 1.3 Incomlng resourees Volunithry income is ¢¢iVed by way of donations and gifts and is inelllded in 11 in Ihe sthiement of fiiiancial llctiviti¢s when receivable. Gifts donated for resale are included as income when rhey are sold. Donaicd assets ar¢ included at the value to th¢ charity where ihis can be quantified and a thiril party is bearing the eost. The value of services provided by volurtteers noi been inclu&d. Income from inveslment$ Is in¢luded in ihe year in which ii is receivable. The Charity is re8iAered for VAT. 1.4 Resources expended Resources expended are recognised in the year in whieh th¢y Ire incurred. Gov¢rnpnc¢ costs include those ineurred in ihe govemance of the charity's assets and are primarily associated with constitlltional and siatutory requiremerkts. 1.5 Freehold investment prop¢rty Frcehold investment prop¢ny is included in ihe balance sheffl ai its open market value in accordance wilh thc Se¢tion 16 of the accountin8 Standard FRS 102. Th¢ wrpluses or deficits on Tevalua¢ion are iaken to the 5t#iemelll of ftnancial aaivities. Depreciatron is not provided in SpeCt of freehold inve5trnenl property. .6 Flxed asset investments Listed inve4ments arc carried at market yve At the close of busine$5 on the balance sheet date.
The Gordon Gray Trust Notes to the financial statements for the year ended 30 September 2024 Donations 2024 2023 Acorns Children's Hospice Action Medical Research Alzheimer's Research UK Alzheimer's Sctie(y Asthma and Lung UK Avon Navigation Trust Bredon Outward Bound Awlation British H¢art Foundaiion Children s Hospice South West Cobalt I lealth Co¢kem)ouih Mountain Rwue Team Deatblind UK DEC Ukroine Humanitarian Appe81 Demeniia UK Devon AIT Ambulan¢¢ Trust Diabdes UK Ellingham CE Primary Seh(xTrl Eveni Mobility Exrnoor Search and Rexue Team Field Siudie5 Council First Brcdon Scout Group Footstcps Worce51ershire Friends of the Lake District Friends of Si Gills Friends of Vicioria Plea5yre Gardens GIouc¢5tcrshir¢ Bundles Glov¢¢si¢rshir¢ Historic Churches Twst Glou¢e51Lf5hirc Wildlife Trusl Great Oaks Flospice Guid< Dog5 for ihe Blind Hearin8 Dogs for Deaf People Home-start Nonh and West Glolueeslershire Hope for Tomorrow Hospiscare Jame5 Hopkin5 Trus¢ Ke5wick Mountain Rescue Team Lindridge Parith Hall Mabgie's Marie c.urie Midlands Air Ambulance ChArity New College Wgr¢ester Neweni A5s0¢iaiion for the Disabled NSPCC Parkill5011's UK Prostate Cancer UK RNLI Royal Medical Benevoleni Fund Samaritan5 (Cheltcnham & District) Sense Severn Ar¢a Rescue Association (SARA) 2,(MJO 2.000 3.000 2.000 2.000 500 15.000 500 2.000 2.000 3.000 3.000 2.000 5.000 2.000 3.000 4.000 2,000 10.o(y) 2.000 3.000 3,0 2.O¢X> 2.oc 4.(K)O 500 2,(0 2.000 500 500 2,500 3.000 1.000 500 1.000 200 500 3,000 2.000 2.000 2.(M)O 3.000 1.000 2.(M)O 3.000 I,(M)o 2.000 3.000 6.000 1.000 2.000 2.000 2.000 2,000 3.000 3.000 2.000 2.000 2,000 2.000 1.000 300 500 2.500 2.500 1,000 500 1,000 500 3,000 2,000 2.000 3.000 2.000 3,000 2,050 2,000 6,000 1,000 2.IN)O 2,(K)O 2.000 2.(K>O 3.000 2.000 2,0(K) 2.0(M)
The Gordon Gray Trust Note5 to the financial statements for th¢ year ended 30 September 2024 2 DonAtions (continued) 2024 2023 Severn Freewheelers EVS Sh¢lterBox Sightsavcr5 St Michael's Hospice St Richard's Hospice Stroke Association T¢nbvry Community Pool Tewkesbury Chordl Society Tewkesbury & District Wheel¢thair Bus Assochation Tewkesbury Natiire Reserve Thamesdown HYdrherapY Pool Th¢ Family Flaven The Siretton5 Mayfair Trust Twynifig ExlremL Explorer Scouts Uni¢ Twyning PCC. UK Sepsis Trust Versus Arthritis Wildsoose Rural Tyaining Willow Trust 2.000 3.000 2,000 4.000 4.000 3.000 2.500 1.000 2.000 1.000 .000 2.000 2,000 2.000 3.000 4,000 4.000 3.000 2.000 1.000 2.000 1.000 1.000 2.000 2.000 500 1.0 I,O(K) 2.0 200 1,000 2.000 2.000 2.(Y)O 142.£X)O 143.550 3 Governaace eosis 2D24 2023 Insurance xan)inaiiort and untancY ftts Bookkeepinu 172 1,250 125 ,547 1,338 195 4 Freehold Investment property 2024 2023 VAluatio At 30 September 2024 and l October 2023 2.450.000 2.367.500 The freehold invtstment pryrty held by the charity eon5l5ts of farni land and buildings let on a lon-*m7 tenancy and was valued by an independcnl valuer as a¢ JO September 2019 on the basi5 of open market value and valued by the trus¢¢¢s on the SAme ba5L5 a5 30 Sepiember 2024. Thr historical cost of th¢ freehold inyemment property at 30 Semember 2024 wa5 £4(K).874. No depreciation was Charged in the year. S Other Investmertts 2Q24 2023 Voluation At l October 2023 2nd at l October 2022 Addition4{disposals) Unreali5ed gainslllosses) At 30 September 2024 and at 30 September 2023 3.075.021 500.000 343.153 3.918.174 3,518,351 (s00,)01 56,670 3.075.021 10
The Gordon Gray Trust Notes to the finaneial st#tement$ for the year ended 30 September 2024 The listed investment held by the charity wa5 valued by CCLA Fund Managers Li]T]ited as at 30 s¢pt¢mr 2024. The historica] cosi of the limed investment 30 Scpiember 2024 was £2,400,0¢ (2023.. £1,91Y),0001. 6 Debtors 2024 2023 Trnde debtor Prepayments and accrued income 4.927 4,927 5,444 5.444 7 Cr¢dltors: amount$ fllittg due within oTre y¢8r 2024 2023 Trade creditors Other taxes and social security costs Accruals tkfeTred income 3.779 4.540 4.211 12.530 194 4,787 5.033 10.014 Deferred income relates io payments r#eived in adVCe urtder rent&l contraets wilh teleeommunieations companies. 8 Unr¢5trl¢t¢d funds GenerAI fund D$ignAted fund - revAlu#lion reserve Total At l October 2023 IncoinLll8 fL'5ources Resoiir¢es expended Movem¢nt in investments Profitl(Loss) on disposal AI 30 S¢ptemb¢r 2024 4.452.949 145.501 (159,299) 435.653 1.789.126 6,242.075 145.501 {139.299} 435,653 4.874.804 1.789,126 6,661.930 9 Tru5tee$' ernolument$ No remuneration ha5 been mide or is due to be made lo any of the trustees in respect ofihe financial period. Travel and p05taue exp¢nses hav¢ been reimbursed io inlee5 in the year Eotalling £408 {2023- £1061. 10 Rel8¢ed-psrty disclosure5 Secretarial services amounting to £3.875 were provided in the year a5 clerk io the tTUStees by Mrs M A Gray. wife of Mr C Gray. son of Dr B Gray and MTS M M Gray (2023.. £3.925). Rent amoun¢ing to £1.295 {2023- £1.2101 was paid lo Mr C Gray and Yr5 M A Gray. son and daughter-in-law of Dr B Gray and Mrs M M Gray. for use of part of iheir home &$ an office.