o? Glasspool
Charity Trust
ANNUAL REPORT
% AND ACCOUNTS .

CONTENTS
ABOUT US
02
About us
Gla55pooI Charity Trust IGi3sspool) is
leading grant-making char5ty provTding
grants to indivlduals experiencing
financial hardship.
We have been maklng a mÈaningful dlffeience to
the Ilves of Indivlduab, couples and famllies for
over 85 years.
03
Ourchalr and CEO st3temenr
04
Our Essentlal lfving Fund grnnrs 202312
05
Case study
We locus on allevlatlng immedlate financlal
pre55ures through grants to help people acr055 the
Ul< navl8ate challen¥ng times wSth dignlty a
ienewed sense of hope.
06
Our Strate￿¢ Direction
Our Theory olchange
We were founded In 1939 wlth a permanent
endowrnent ffom ftlchard Louveteau GlèsspooL
Hertfordshlre bu5ine5s man and philanthroplst.
H15 personal ftnanclal stru8gle5 as • young
man Insplied hlrn to a55iSt others faclng 5imliar
hardsh5p. A5 a result he has kft a lastlng legacy.
Th15 le8acy contlnued dvrlng 2025124 ènd WILL
iemaln for many year5 to come.
07
Ovr 5ir3legy Map
Our Value5
08
From strategy lo actlon-the Fiexrble
Frtsntllne Fund
09
Overall re5ponslblllty for Gla$5pooI Iles wlth
our elght trustee.(51rector5. They bring a weolth
ol inslght from thelr professSonal and voluntary
roles. including expertise In advlce. re5ear¢h.
perlormante a$5e55menl, èccountlng Investments
and human resources.
InipiementSngthe FleNlble Frontllne Fund,.
Phase i- RecruStlng our frontline partners
12
Our flexlble Fiontllne Fund Grant
DellveryPartner5 2024125
Throughout the year, we a150 benefitled frgm the
voluntèry experdse ol è tiustee-dliector In-waltln&
who contrlbuted fronlllne ¢Jellvery expertlse, and
5peclal ath15er for investments.
14
Our Governance
15
Our siaff telm Includes
Chlef Execuiive Officer,
Head of InnovatSon
lrnpacr. a Grants
Officer an¢ an As515tant
Grants offi￿r.
Our Flnanclal ftev5ew
19
Trustee-Dlrettors' Remorf¢s on theAnnual
Flnancial Statements
20
Detalls ol theTw5t,11gTrustee.Dlrettors.
Staff and ALfvis2
22
Annual Accounts
ALGL455PQOLQPA4N¥IRusr
AWJALftEpoofANDK(OWnS

OUR CHAIRAND CEO STATEMENT
We were thrilled to 51art the year by launchlng our new Strategy Investing in people's
current ondfuture live5 2023-28. which outline5 our plan5 to mal(e an even greater
impact for individua15, couple5 and families aCTOSS the Ul(. through a btild and
ambitious approach to disbursing grant funding.
Thi5 appreach wlll be Feèlised throu8h our
newly deslgned grants programrne, the Flexlble
Frontllne Fund. Through thls programrne we wlll
provtde block grants ro Ifontline organlsatlons
who will work closely wlth Ihelr service user5
to allocate our grant funds. We be15eve thls
approach Wh￿ be more effective and empowerlng
for Indlvldvals experlen<lng financlal hardshlp,
glvlng them more cholce and control over how
ènd when they use Gia$sPoolgrant fundln&
ALLOCATED
A RECORD
BENEfiTTED OVIR
£2.2
MILLION
11,830
ADULTSAND
CHILDREN
To prepare foi the launch ol the Flexlble
Frontllne Fund, Ihroughout much of the year
we <gnducted a rlgorous and transparent
recrultment piocess to select frontline grant
dellvery partner5. We rece5ved 563 hlgh.quollry
appllcations and v55ng a stllJClured ès5essmenl
proces£ we were able io select 50 org)n15alion5
from acr055 the VK.
In Ortober. we sadly 5ald goodbye to Robert
Blmlngham, a Icng"5tandlng and much vave
Irustee.dlre£tor. Slncejoinln8 Glasspool In
2C4)8, Robert provlded profes51onal expeitlse on
dlsablllty Issues and h2l¢J promlnent leadershlp
roles within our gran15 sub-comrnlttee. However.
we were dellghted to welcome Yu5uf Ibrahlm
ho Stepped up to the full board, havlng
prevlovsly been a trustee-dliectow In-waltlng
wlth Glasspool slnce 2022.
363
HIGM.QUALI'r¢
APPLIC.AflONS
IIECEIVED
It ha5 been a very bv5y bvt excltlng yearfor
everyone Involved wlth Glasspool. As we bid
fèrewell to the E5sentlal Llvlng Fund, we eègerly
look forword to Implemenilng the Ftexlble
Frontllne Fund In the year ahead.
fLIys
As well a5 settlng up the Flexlble Fr¢tntllne
Fund, we contlnued to dellver our flagshlp
grants prograrnme, the Essentlal Llvlng Fund.
Wp allocated B recoid £2,2m In grants, our
hl8hest ever.The5e grants benefitted over
11.830 adults and chlldren. A fiiiing tribute lor
the finalyiar of thls programme.
Ilerrf Phllllps
Ch?Ir ol tru5tee-dI￿Ctois of GlasspotrlCharltyTw5t
Julle Green
ceo of Giasspool ChèrllyTiust
OL¢W￿OL(lI1ft￿TRuSr
A￿￿lL￿POR7￿II9K￿￿1jFs

OUR ESSENTIAL LIVING
FUND GRANTS 2023124
Ouring the year we continued to deliver our flagship grants programme. the Essential
Living Fund. The total funds approved wa5 £2.2m our highest ever grant allocation.
PEOPLE
11,830
people supported
5,857
households supported
GRANT5
grants approved
tola
number of Items
approved
£2.2m
io0%
Top Item5 approved
valve ol grants
approved
appllcations recelved
were assessed In
under ten worlilng
days, over 99%1
five days or le55
2,028
938
beds and bedding
¥va5hing
machine5
1,280
1,45711
flooring
cooker5
184 1"&
cloth7ng
THANK YOU
We would lilie lu Iliaiil< tlio Ihousènds af.fro￿111fte support viorkers who have
submillp(l Liranl applications ID Glosspool ()vvr the last 85 yea15. Your dedication
nd ofltsrt5 rn&lID 0111 work po%%ibl
ILCWSPQOLUlmlfiU5T
IIINUALREPWO2IDACCOUNT5

I CASE STUDY
DEIRDRE'S STORY
66 Glasspool helped me
50 much. They enabled
me to mal<e a nice homo
and gave me and my
daughter the ability to
live healthily and happily.99
Deirdre is just one of the 11.830 people
whtr were allocated a grant from the
E55enlial Living Fund programme during
2023124.
.1 had to dlstance ryself from the communlty I've
been a pwt of all my Ilfe to protect my family'5
safe¢y. I moved Into temporary accommodation
Ithlu5la small carrier ba8and the clothe5 on
my back. The fridge In the ftat Was far too small
to hold my daughter's medicaticn. The ftatalso
dldn't have a £lothe5 dryer. Thls wa5 hard lor me
becau5e15vffer from Inconilnence so I need to
wash rny clothes every day.
A lovely lady from a charltywho w¥5 helplng me
sald she'd apply to Glb55pooI for a giant for some
appllances, io help us 5¢ay cleaft and safe. Quickly
afterwards She called to sayG1055poolwoul(S be
gifting me a fildge.freeier an(J a dryer. I was so
hèppy. Ir felt Ilke a weiBht had been Ilfted off my
bacli. No cne ha5 ever been that klnd to me.
stopped my ￿XIety about keeplng mydauEhlerfs
rnedicatlon safe.
We stayed In the ternporary flatfor elght
before movfjng to our new forever knme- a twct
bedroom maisonette. I was overthe moorL I was
ble to brfng my new dryerand fridge.Ireezerwith
me, bui the malsonette had no oven. ThE n1ce lady
5ald that once a8aln Gla55pooI would ceme tothe.
rescue. Not long aftei, an oven was dellveredand
set UP so 51 was ieady for me to use.
Glasspool helped me so much, They enabled me to
make a nlce home and gave ME and ry daughter
the ab111ty to live healthlly and hèppily. I can'i ever
thank them enough, We're saf4 thmfortable and
readyto start the next chapter ol our Ilve5.1've
suffered from anNletyand depresslon. Ive been at
rock botto￿ but I feel Ilke thlngs are on the up."
From dtyone the newfrfdge-freezer and
dryer made such a (fifference, It stopped me
feellngembarra5sed about my condltlon and It
'LGiAS5PQULC+L4IITYTftusr

OUR STRATEGIC DIRECTION
PURPOSE
AMBITION
P051TIVE
CHANGE
During 2022123 we developed our shared vision for
the difference we wanted lo mal(e in the world and a
iefreshed sense of purpose. In 2023124 we started to
implement this vision.
We were clearwe wanted to continue to
Use our resources te support Indlviduals
emperlenclng finèr5cSal hardshlp.
We recognlsed that a strong reiatlonshlp
between an IndI￿duaL and thelr frontilne
support worl<er Is essenLial for an
IndI￿o￿al'S progfe55.
We undeistood that greatei change can
happen for Individuals when grant fundlng Is
comblned wllh whole-peison support.
We wanted Indivlduals experienclng financlal
hardshlp to have more declslon.maliln8 power
over thelr own lives by decidlng how our8rant
fundlng would be used.
Orathng on these concepts, we Oeveloped eurTheory of Change, wh>ch outllnes how our gran¢-rn4klng
wlll lead to posilivÉ change for grant feclpient5.
OUR THEORY OF CHANGE
WESUPPORT
WE fiECRUIT
WE PROVIDE
grants ftrr Items 3nd
services (￿Sen by
indivldvals In dlscussion
with theii frontline
supportworlier
people In the UK
expeTlencing financlal
hard5hlp
frontline SUPPOft
organlsatlons that provlde
qualSty, whole-per50n
packages ol support to
deilver our grants
+°+ OX
WEENABLE
We CONTftIBUTE
WEASPIRE
grani reclplenis to..
5rnprove theli financlal
towards bulLdlng financlal
resIllen￿ and reduclng
financlol dlstress by provldlnB
tlmely, Ille-enhanclng svppoit
ro people Ilvlng In financlal
hard5hlp
to a 50clety In which
everyone ha5 the
resources theyneed
to shape rheir lives
and look forward to
tomorrL
feel betiei able lo
manage their lives
hove a more settled home
ALGWOOLCXIIITYTAV51
ANNUALftEPORYINDACCOUMTS

We used DurTheory of Change framework to develop a 511aregy map thatwlll gulde our
strateglc direction over the nemt five year5. Th15 map oulllnes the v31ue5 thè¢wlll undeipln
ourlourney, a5 well a5 the vlslon. mlsslon and programme outcome5 we wlll work towaids.
through ourgranl-m3kpn&
OUR STRATEGY MAP
Our iiision
&veryonè hès the resource5 they need to Shape
Iheir lives and look lorviaFd lo tomorrow
Our values
DEDICATED
EVOLVING
COLLABORATIVE
UNDERSTANDING
Our mi5SlOn
To increase finanr.ial
fe5ilience and'reduce
fin4nclal dlsiross
by provldlngtimoly,
Ille-enhanclng suppori
to people In financlal
hardship
Ou* outcomes
Grant recipien15
havc an improved
Ourprogramme
The Flemlbl
Fronlllrie Fund
Grant recipientr feel
bettor able to mano8e
1 morc s?Iiled hothe
Evaluation
OUR VALUES
DEDICATED
EVOLVING
We dellvef In the best
waywe can
We malntèin hlgh
personal and
prolesslonal srandaid5
• We embrate new Idea5
so we can respond to
changlng woild
• We evèluale ID learn
and adapi
COLLABORATIVE
We provTde choice
through Involvement
We wgrk wlth others
to achleve more
UNDERSTANDING
We focu5 on the people
we support
We value difference an
treat eveiyone with respect
rtLGLb55POOLCTrk•JiNYTRUST
4NNUALkEPORT AIIDfyttOUIIIS

FROM STRATEGY TO ACTION
Purpose
The overall purpose of the lund15 to Increèse financlèl well-belng
Ind reduce fina￿la1 di5tre55 fw individuals experlenclng financial
hardshlp.
Outcomes
The fund ha5 three strateglc programme outcome
6 Grant recipients have an improved financSal p05jtlon
O Grant reclplenis ftpl betterableto managethelrlive5
6 Grant reclplenis have a rnore settled home
The pro8ramme outcomes wlll be achleved by..
O Recruittng frontllne dellverypartners who offer quallty.
whole-person support
Q Offeilng 8rants lor Items or seNlces
THE FLEIIIBLE
FRONTLINE FUND
Tho FLÈxible Frontline
Fund vrill operate from
l Apiil ?.O?.li 10
31 March 2027.
How will it worl(7
STEP I
PEftSOII
5EEI<S HELP
STEP 2
ONE-TO-ONE
ASSESSMENT
STEP 3
GRANT DELIVERY
PARTNER ASSESSMEKr
AND APPROVAL
STEP4
GRANT DEIIVERY
PARTNER ORDERS
ITgM
Together, the Sndivldual
and support wollier
declde how 10 use
granr to access
service andlor.
PU￿haSe an Item
Support worker
eompleres
necessary
processes
Internèl manègernenl
approve grant request
GRANT
OELIVERY
PARTNERS
Indlvldual recelve5 the
itemlservice wlthin a
package ol suppori
Grant funding
Grant Ivndingcan be useLf for avarlety of goods and service5tha¢allevlate financSè1
haidshlp forindlviduals.Allgranttxpendlture must<ontrlbut¢ to at leasione ol the
specSfied programme outcome5. Ellglble vses Include household Item5,traYel, personal
Identification documents. food, utiutlès, Èmergency accommodallorn phones and security
dèvlces, We antlclpate that this list will grow as Indlv5duals and 5VPPOrt worl(er5 become
moreconfident yn u55ngthe fundingto mal(e the gfeatest dlfference lo people's1Sves.
nLGLIWQOLOWryYTqU5T
A￿￿￿￿L￿EPOllT AFIDAttOU1115

IMPLEMENTING THE FLE)IIBLE
FRONTLINE FUND
PHASE I.. RECRUITING OUR FRONTLINE DELIVERY PARTNERS
RECRUITMENT TIMETABLE
Promctlon and awarene55 raising
bout the Flexiblè Frontline Fund
2023*
,YA'I
JULY
()PFfrIS
SAP.RIL
CL05fs
IgJuNE
Flexible Frontline Fund
ppllcatlon wlndow
Due dlligenie.
intervlews, 51te vlslts
DECEMBEri
NOVFMUFII
OCTOE41ti
tsEPTEMBFR
UCIllSF
Board confirms
Gran¢ Dellvery
Pèitner
FFr.
GOES
2024
Preparatlon
JAil'UAI£Y
r.IBr<uAI<Y
Apf¢iL
PROMOTION
To a¢hleve our alm ol u51ng open aThJ Incluslve approaches
to promote the opportunlty to become a 8rènt dellvery
partner for the fund, we underiook the followln
• We comml551oned a that we uploèded
to our web51te.
We contacied aUsupportwoFl<ers who had applied
to our E55entsal Llvlng Fund slnce 2016.
We advertlsed vAdely thiough voluntary and £omrNnlty Sector netwoiks.
• We held three weblnar5 In AprlL May and June 2023. Neaily I,CKJO people attended. We a159 publlshed
the weblnai slldes and answers to qvestlons ralsed. ensurlngthat those who could not attendwEre 51111
able to a£¢e55 the Inlormètlon.
Ihroughoutthe 11-week appllcatlon wlndow. Glasspool staff were avail3ble to respond to wrltien
questlens and phone enquliles.
66 Glasspool Staff are
always very helpful
and approachable.
99
IGLISSPQOLcwnYrftusr
INNVALnEPOITAHDACCOLWTS

APPLICATION
From 3 Apr51 to 19 June 2023, frontllne
organisation5 were invlted ro complete an onllne
appllcatlon form the following inforfflatl0n'.
Contact details, includlng registration wlth
ulatory bodie5
• AgÈneral description of theli purp¢se, seivlces,
5UPPOrt and èciivitle3
. An ouillne of thè ¢ommvnliies they5UPPOrt
A deKr1ptlon ol the organisatlOll'5 prSm4ry
5eivlce users and Whe￿ theyare located In the
UX by nation or region
An oullSne of the or8èni58llon's experIen￿ gf
d15burslng yants for indivlduals
• A dexilptlon olseNice use15' SUPPOrtIourn￿$
wlth the oiganlS*lon
4 An oulllne of ihe or8an15atlon's Inteinal
nd external referral processes
An Indlcatlon ol the average t1me
the oiganlsatlon works wlth Its
service useis
6£ Really
straightforward
proce551
99
An outllne of the training and 5VPPOrt
provlded bythe oiganlsation to Sis staff
and volunteers
. An emplanolion of how the organ5satlon
revlews and evaluates St5 service dellvery
and ltstollow-up acllons
A de5crlptlon of howthe organlsatlon
addre55e5 safeguardirtg and data protectlon
155ue5, serlous 5n<Sdent5
1, 66 It was really
efreshing to have
the opportunity to tall<
' through the scheme and
as1< quesLion5. Everyone
Is so friendly and
approachable and it made
applying a pleasure.
ASSESSMENT
We recefved 365 appllcadons from
fronlllne ¢rgan15atlons wlshlng to
becorne Flexlble Fioniiine Fund 6rant
dÉllveIy partners. Uslngstandardised
scorlngcrlterSa. appllcatlons were
assè55ed and the scores moderared
to ensure conslstency and tg mltigate
any covert bia5. Gla55pooI slaff then
conducted due dlllgence checl(s,
revlewing published ¢Jata frorn regulatQTy
bodles ind appllcant¥ website&
99
UGIASSPOQLClklRIIYTAUST
AWIIUALREPORT ANOACCOtsNTS

SELECTION
To honour oul founder's Intention 10 fund a wide range
of commvnllles both geogiaphically and across dSffeient
grant recSplent groups. Glas5pooI s¢aff drew up an
applicant organI5ation shortlist, whlch Sncluded a diverse
cohoit of servlce user cornmun1tles and organ15atlon5
frorn all fourcountrie5 91 the UK. Staff then held virtual
meellnE5 wlth 5hort115ted orgènlsadons to gither
addltionat Inforrnallon and clarlfythelr understandingof
the submltted Inloimation. The shortlistwas then refined,
and the trustee-dlieciois made their final selection at the
board meeilng in December 2023.
66 We really
appreciate the
step-by-step
guidance and
relative simplic7ty of
the documentation.
99
INDUCTION
At the start of the year, we held two Introductory InduchoD
weblnars for our newly selected frontllne grant dellvery
partners. These weblnar5 Outllned the key feature5 Qf the
programme and enabLeO all paFtner orgèn15atTons and
Gla55poolto meet forthe first tlme. After the weblnar5.
12 oiganlsatlon5 volunteeied to form a monilorlng worklng
group wlih Glasspool, to finalise the fvnd's monltorlng
content and procedures. The In5Ight5 galned from the
weblnar5 and the worklng group were incolporèted Into
comprehenslve piogramme guldance thatwa5155ued to
partner oiganlsations. In consullation wlth the partner%
Gia55poolwlll revlew and update the guldance annually.
e also held a supplementary weblnarto Introdu
partner5 to variou5 svppllers of goods and servSce5 who can
be use¢J to fulfil grant ￿queSts.
66 The information
provided was really
useful an'd we are r.
meeting supplTer5
directly a5 a rosuIt.99
IGihSSPO

OUR FLEXIBLE FRONTLINE FUND GRANT
DELIVERY PARTNERS 2024125
Cgj
commodatlon ConceiTr East Mldland5
Imorth Northantsl
ArgylL Lomnd and the Isles EnergyA8ency
(ALlener￿1, 5cotiand
Ayr Houslng Ald Centre SCIO. 5corlèn
Beam Up Ltcl. UK Wlde
Biomley Mencap, London18iomleyl
Cèmden Care15. Lon¢Jon Icamdenl
Cau5ewayChadtable 5ervlte5, Nerth West
ILlverpooL Manchester. Sunderiand èn(J
Sheffieldl
Cent￿63, North West England
Cltlzens Advlce Ctntral Oor5e¢ south Wesi
En8land Ioorse¢ Doichestei, Gllllngham.
5herborne and Weymouth Et Portiandl
Cltlzens AdYlcÈ HartlepooL North East England
IHartlepoo( Darllngton, Red<ar and CLevelènd]
Cltlzens Advlce In North & West l(enl
Sovih Easi England INorth fr West l(entl
Cltizen5Advlce Walthèm Forest
London twaliham Forestl
Cran$tou￿ South and West Mldiand5
IBlmilngham, Englandl
Ftyther Hud50n'5 5ocletyTIA Fèther Hudson'5
care.west Mldland5 Iwest Mldlands.
Staffordshlre, Worcestei & Oxfordl
Flrst Hov51ngAld er Support 5ervlces.
Northern Ireland
l(Iran support Serylces, Londtrnlwaltham Forestl
Nepacs. North East England
NIACRO, Noithem Ireland
Noah's Ark Centie, YortI5hire and the rfumber
North Nottingharnshiie Clt12ens Advitr.
East Mldlands INorth Nottinghamshlrel
One Parent Famllie5 Scotland, scotland
Ongo Communltle5 Ltd, Yorkshlre
and the Humber
Ormision Famille& East of England
Poslilve East, London
River5ideAdvice Ltd, Wales
Soltt)g& Wesimldlands
Sotsce Women'sAld, Lon&Jn
Stsylng Pu[ Yorkshlre and the Ilumber
18radfordl
Telford Crls15 SupporL We5tMidlands ITelfordl
The First Step, North West England IKnowsleyl
The Nelson Trust, South West England
The Welcome Centre, York$hSre and the Humber
IHudde15fieldl
Togetherlor MentslWellbeln& East ol England
Torus Foundatlon, North Wesr England
Trelya, 5Duth We5¢ England
tTreneere, Peniance and West Cornwèlll
Trldent Reach The People Charity, West
Mldlands
Frlends Famllle5 and Travellers, England
Gateway M40, Nuilh Wes¢ England
GISDA Wales
HEET, London Iwaltham ForesL
Rèdbrldge and Enfieldl
Helen Sambef Foundation, London
Hlblscus Inlllatlves. England
Hlllslde Clubhouse, London
Humanlflnd Charhy, North East Englano
Humbertare Ltd. Vork5hlre and ihe Humber
Ip5wlch and 01srrlct CltlzensAdvlce Bureav,
East of England
TurnlngTSdes Homelessnes5. Sourh East England
IWe5t SusseMI
Voices in Emlle, South East England
IBrSghion and Su55exl
Younc Rootl London
Gla55PDDI-funded grants liorn Ih¢5e pailner5
re e)IclusSvEly reseived foi Ihelr servke
User5. Theycan only provlde Erant suppoii for
Indlvlduals ¥vho meet iheii ellglblllty crSterla
Gfidif Ihe oig3n15alion has thecapaclty to take
on new seivice users.
RL£LA55POOLCWTYTPVSI
AMNVALREP¢JVANV￿(OJKTs

REGIONAL DISTRIBUTION OF GRANT DELIVERY PARTNERS
UI< WIDE
£25,000
I ORGANISATION
SCOTLAND
£120,000
3 ORGANISATIONS
INQRTHERTrI'IRElIAND
North East
£150,000
2 ORGANISATIONS
3 orgonlsations
Noilh West
£212,000
5 organisalions
Yorkshireand the Humber
£220,000
5 organi5atlons
East Nldlonds
80,000
2 or9anisatlons
East pf England
£120,000
West Midland5
£210,000
3 ¢rgonisatlons
London
5 organi5ètions
£410,000
South West
£110,000
3 organisatlons
11 organlsations
ENGLAND
South East
£150,000
£7,0,000
3 organisations
?. ORGANISATIONS
IIGIA55POOLC￿ffVT￿9r
IMiiuoiftEpoRfANOA(COUNTS

OUR GOVERNANCE
CHARITY GOVERNANCE CODE
The Irusiee-direciois use the Governènce Code for larger charitie5 to inforrn our pollcy and practlce.
PRINCIPLE I
ORGANISATIONAL PURPOSE
our membership In a CARE defined benefit schemè.
We have iisk mitigations In place to minimise and
manage ihe5e rlsks.
Our organlsailonal purpo5e15 lo provlde grants,
goods, services or facilllies for people'who dre
In need hdrdshlp ordistre55, slck, convale5cen(
dlsobleé orlnfiFm' Every five ye3rs we conducta
Comprehensive review ol our strategy, whlch takes
nto èccounteconom1c, social aftd environmental
condltions and the centrlbutlon we can make to
achleve our puip05e.
PRINCIPLE 5
BOARD EFFECTIVENESS
Trustee.dlfftctors are appDlnted lor five years wSth
the expectation that they WILI servè a mèxSmum
of 15 years. Wè undertalKe comprehen51ve
skil15 and diverslly audlt5 thèt help frarnÈ our
succession plannlng. All trustee-directors receive
a comprehen51ve Inductlon tts Gla55pooI and
5ubsequeni Dngolng developmeDtthrDugh external
5emlnar5 and tralnlng coutsès.
PRINCIPLE 2
LEADERSHIP
Glasspool ChailtyTru5t15 managed by a corpora
trustee R L GlasspoolTrustee Llmlted company
reg. 11147581.The corporate trustee conslsts
of e1ght Indlvidu& tru5tee.directors. The lull
boaid and Trt5 finance. grants and human resour£e5
sub.commlttee5 meet fourtlmes a year. Betwèen
these meeting5, trustee-d1￿(Eor5 ènd staff
meet and revlew spec1fictoplcs to inform board
det1slon.rnakln& The CEO Is the only mefflber
of Icey management personneL
PRINCIPLE 6
EQUALITY, DIVERSITY
AND INCLUSION
We are commlttpdto embraclngequallty. dlverslty
and incluslon IEDII. Prlor to recrultlng tfUStee-
dliectors we conducl skllts and diveislty audlts
thèt are part cf our 5uccesslon piannlng, EDI
con5iderètlons are integral to the recru1tment tsl
our grantdellvery partners.
PRINCIPLE 3
INTEGRITY
PRINCIPLE 7
OPENNESS AND
ACCOUNTABILITY
We conducied a comprehen55veand Iran5parent
recruStmentprDce55 forour newgrants programme,
the Flexlble FrontLlr* Fund. We share ow knowled8e
thiough wr webslte, theAssocSatlon of Charltèble
Organisatlons and the Granr Makers'Alllance.
Transparency Is Cenirèlto our CO￿ values. We
malntaln a ieg151ei of Interests foi Iru5tee-élre(t(Ys
and senior staff. Key Gla55pooI publi<ations a
uploaded to webslte.
PRINCIPLE 4
DECISION-MAIIING,
R151( AND CONTROL
PUBLIC BENEFIT
We malntsln a robust and dynamlc appioach ¢0
rlsk managemeni, whlch strengthens our Internal
control. In 2023124. we InS1ièted a 5trateglc
rlsk management revlew, wlth finding5 ro be
lfflplemented In 2024125. Our Iiey ris115 Include
1055 Qf staff and penslon Ilabllltles, è5stscla¢ed wlth
The trusiee-dlrectors have comOled wlth
Ihefjr duty to have due regard to the Charlty
Commisslon's publlc benefttguldan￿', pubtlc
benefit¥equlfementlP81L runnlng a chartty
IPB21 and reporlinglP83k
RLGLISSPON<Y*AUTY7AVS1
V&IREPORTINDAC(OUNIS

OUR FINANCIAL REVIEW
In 1948, Mr Gia$5pooI leftthe charity agenerous
endowment of resldentlal propertle5 and other
Investments thai were latervalued at aiouno
£139,000. Throu8h prudent Investment by
successive trustees the total value of these funds
ha5 Increased above infiètlon and at 31 March
2024 Ihe total value of Glasspool's funds were
E&l.7m. Overthe past yeor, ourlnve5tments ha¥e
generated è total return of 7.4%.
INVESTMENT STRATEGY.
OBJECTIVES AND TARGET
We have a comprehen51ve Snvestment policythatsets
outcle4rgblecllve5 and the pararneteis of howwe
manège the endowment and our short and long-term
reserve& We have Set the following broad principle%
To dellver the best overall finènclal return￿thIn a
115k plofile that 15 comrnensurate w51h a permanent
endowment and our financldl oblectlves.Weèlm tty.
Dellver an overall rotal retuin ol"RPI + 4%" after
the c05t of Investment overthe long teim
Generate a level of Inci)me olii least PEr
annum from our investments
• MaTntain the reèlvalue of the endowmént
11.e. agalnst Infil￿onI
• Malntaln a well-dlver5ified, multl-asset portlollo
Conslder and monlior our Investments In¥￿ ol
our charStable purpose
Gla5spooI benefitted from an increase in
our Invesrment Income of Dver 6B% frorn
É2,161.617120221231 to E2.508.611120231241
desplte 5eelng a decrease In Income from Trusts
Foundètlons to E150.Q)O. Our permanent
endowment remalns the most imporiant source
f Income for the Trust representlnE93% gf the
lotal Inwme of £2,478,796.
INVESTMENT PERFORMANCE
Table l.. Total fund value lassets11995 to 2024 lyeafs enthng 31 Marchl
50
45
25
20
15
io
Doa 000
J W
RLGLASSPQOL(HdRfry7llU5r
AIIMVAiRIPOftT AM0AcCO￿￿15

Table 2., Total grants 1995 to 2024 (year5 ending 31 March)
22fK)
2JOO
19
18c•J
1700
1600
1500
1400
JJ
Izoo
iioo
700
600
500
40D
30D
100
ts o o Q P Q O Q O o
oooo
7 &1 ￿ O w PJ I
REVIEW AND INVESTMENT OUTLOOII
2023124 was a good year fpr investws as
pes51mistlc expectallons were 5urpa55ed and
financlal markets prlced-ln not only an end
te Interest rale Increases, but progresslve
re(Jvciion In rate5 over ihe next fewyears. U5
equltles were a clear bright 5POt as the world's
largest economy iecofdeo surprlsln8lygood
Browlh and iargÈ cap tech stotks benefitted
flom the Browlng Interest Sn Al. Whlle UK
equltles underperformed. they outpeilormed
the prevlous year, and thp rotatlon PTovldes
8ood example of the benefits of holding
diversified pgilfgli¢. Infrastiuctvre
nd property continued to be a drag on
perlormènce 35 these a55et5 remaln ovt of
lavoui. However, they remaln on slgnlficani
dlsco¢JntS to Ihelr nel asset value and the
yields remaln weW above cash or bonds,
enabtlng us to be patlentwhlle wè wait for
attltude5 to shSft.
It Is over two years slnce the Federal Reserve (Fed)
d Ban1( of England IBOEI embarlitd thelr
aggressive tiBhtelllng pollcles and econornles
have fared fèr bettèr than was Inltlally feared.
The US was the world's fa51e5t-giow1ng advanced
economy In 2023, dellverlng 2.5% GDP giowtll
Whlle the Ul( slld 5nto o shallow technical
recession In the second hall ol Last year. the
economy managed to eke Qui 0.1% GDP growth
for 2023, The Eurozone slmilarly struggled to
grow, re8Isterlng 0.5% 2023 GDP Erowth, but
gfven the bleali projections due to 5haiply highe¥
Interest ratos and the focl economles are not
51gnlficantiy conrractln& thls Wè5 vlewed as a
posltlve deveiopfflenL
Even though Inftation levels are movln8
closer to central ban1( iaigets 01296, there are a
number ol reasons to suggest that inftatlon In th?
future wSiL be more volat11e and harder to contain
RLGL455POOLcwthnYTAUSI
ANNVALRIPORT ANOKUPJMT5

t very low levels. The near zero Interest rale
n￿ronMent that prevailed from the Global
nanclal Crlsls IGFCI staltlng In 2008 to the
onset of Covld In 202012115 unllkely to be
repeated ever the nexr five tc 10 year5. Flrsr, the
8eopolitical londscape has changed In the iasr
few years. Low infiation over the last 40 years
has largely been the result of globallsatlon, wlth
Chlna In pardcular becoming the'factory of the
world." Many companles felocated productlon
there, and In other emerglng economle5 In an
eff(prtto ieduce cost5. However, Covld lockdewns
and Ru551a'5 Invaslon of Ukralne reveoled the
fiaBility of supply chaln5 and rlsk5 01 beroThinB
too dependent on one reglon ro supply
product5. 'NearshoFlng' and"frlend5horlng-
have enteied the corporate lexlcon as supply
5ecuilty t3ke5 precedence over cost. The
posslblllty of other mllitary Interventlons over
the next few years should not be d15rn1￿ed as
seen In roncein5 over the confllct In th? Middle
East. Second, ¢llrnJte change Is Impacting on
grlculturèl productlon, whether It be through
Increased Incldence of lamlne or flood. Thls
h05 the potent1al to Inuea5e food costs, or
at least malle prtces fluctuate more than In
the past. Thlrd. the iransltlon towards o net
zero effi￿rOnment adds 5hort-term co515 uniii
ienewables ourputand pFlce5 fall below
prevalllng energy prlce5.
If inflatlon Is more volatile as a ie5uIt of these
factor5, the likelihood Is th3t Inrerest rotes on
average wlll be hlgher moving lor¥vaid than
in the last decade. The iran51t5on Irprn zero to
current Inteie5t rates has been 8 palnful one,
part5cularly in 2022, but forward.lookTrng morliet
eMpe£tatlon 55 th?t they wlll setrle between
3.Oq6 and 3.596 sn the Ul<. Th15 Is not nece55arlly
a baLI environment for Snvestors. Modeiale
Infiatlon vAth rnoderaie Interest rètes Is the
hlsiorlcal norm and ha5 not damaged longer
terrn Investment Fetvm5. In thls envlronmenL
Ihe return profile acr055 asser cla5se5 wlll be les5
skewEO tewèrd5 equitles, wlth bonds and even
cash dellverln8 a posltlve retufn. Addldonally,
neor zero bond ylelds have resulted sn poor
Capltèl allocatlon for many buslne55es and
therefore In a hlgher c05t of c3pltal envlronment.
A correction In interest lates Should Improve
Investmeni dls¢lpllne as should the qualltyof
buslness InvestrnÉnts. Thls wlll also Improve
returns on cèpltaL In shori a new erb of
moderate Inflatlon and posltlve yleld5 should
allow m05t asset classes to Oellver positive
ielvins over the years to come.
ASSET CLA￿Es
To ensure 1151115 managed approprlately wlthin the portfollo and is commensurate wSth
belng a perrnanentiy endowed grant-maklng charlly, we hold a wlsje range of è55et% These
are manè8ed by 17 Inve5trnent managws wllh dlversSficètlon acros5 a range of cla55es.
1.5Q/p
£629,356
Cash
17,2 /0
£7,203,350
UK Equltle5
TOTAL ASSETS
10,596,984
£41,868,723
£6,687,568
Global Equlrie5
7,813,283
Properly
£8,938,182
Prlvaie Equlde5
RLwSsp￿(￿AirirftvsI
*WIUALREPQRT AMDAC<QiWTS

FINANCIAL PERFORMANCE
The end-year position wa5 a surplus of Incorne over eJwendl¢ure or É32,412. Undei the
requ1￿ments ol SORP reguiarlons all Incom? received Must be recognised In the full year It was
recelve¢J. Drapers, funding of £25.000 re£ei¥ed 2022123 was disbursed 2025124 ano a further
Drapets, grant of £25,000 was recelved 2023124 for dlsbursement 2024125. A Mercer5' grant Df
£40.000 was recefved éuring 2023124 for dlsbur5ement during 2024125.
Table 3: Performance 5urnmary ave¥aged over rolling three.year period; target in brackets
.OBJECTIVE
OUTcofrfE
RESULT
Increo5e grant spendlng by
more than increase in RPI
5.7%18.99SI
Increase total fund value by
more than the Increase In RA
.1.8%18.9%1
Generate a nettatal Income
return of at least 4%
Generate a total return above
the increase In RPI * 4%
3%112.9+61
Keep granl-mal(Sng costs below
2Q% ol net total incorne
13%1<20%1
Spend èr least 100% of net
Income on grants
95.9%1100861
RESPONSIBLE INVESTMENT
impact. A5 an org?ni5atlon, we believe In actlve
2ngègement rather than dive5trnent and seek lo
be part ol the movement towards posltlve change.
In Ilne wlth our Yalve5, the IrustefrOirect*X3 Pey
close ètientlon to our responslbilitle5 a5 Investors.
We do not have any speclfic exclu5ionèiy polScy
based upon ethlcal conslderatlons but do
consider envlionmental, soclèl and 8overnance
IESGI155ue5 when maklng Investment dec5sions.
We requlre our fund and iompany managers
te rake ESG Issues Into con51deration In the5r
declslon.maklng procèsse5, and io ￿pOrt cn thelr
engagement ￿th bu51ne55es they Invest in. All our
managers musi adhere to the principles set out
In the Iunlted Natlons) Prlnclples for Responsible
Investfflent.
RESERVES
Our strategy15 to keep the"desl6nated reserve5.
bove the costs olthe CARE defined benefit
penslon scheme Debt on Wlthdrawal IDOWI
Ilabilily and general reserves at 51x monihs
opeiatlng costs. We declde¢J to reduce the latier
from one year's operarlng costs to months to
reflect tru5tee-directOls' Intention to spend down
the eMces5 reserves over the next five-tO-5even-
yeai perlod, $0 th?1 we can Increase our grants
spend for people most In need.
We wlll be pragmatic in Implementing thls change
of pollcy tts ensure we rnaxlmSse the amount
we can d15tribute to our beneficlarle5 today
and In the future. Glven the Dow estimate130
Septery)ber 20221 is E157.991. trustee-dlrect015
wlll revlew Ihe level of'designated reserves"
held, reducing the provislon to £200k. Plus
51x month operatSng C0S151£150kl In general
ieserves.
We appieclale our managers parisclpatlng In whèt
we see as Importani Inltlaiives. such a5 the 30%
Club, which focu5es on the comp05i¢ion ol Vl(-
Ilsted cornpany boards. the IIGCC (the Insliiuiional
Investors Group en Cllmatt Changel and
UIISIP (UK Sustainable Investment and Fln3ncÈ
Assoclatlonl. We meet with our Investfflent
managers perlodlcally and, as part of ihe ongoing
monltoring process, we examine the inve51meni
managers. approach to enyg¢ment aDd
f¢LGLASSPQOLCIL4Tr1TYTRUST
AWtIUA(WORIPII)AC(OVMIS

TRUSTEE-DIRECTORS. REMARIIS ON
THE ANNUAL FINANCIAL STATEMENTS
There wa5 a 5rnall increase of 1.6% in the total
value of funds from 2022123. Gtasspool is a
long-term investor. absoibing market volatility
and still generating year-on-year investrnent
income growth. Investment income rose
6.8% (from £2.161,617 to £2.308.6111 and
total income linvestment5, Trust Et Foundations
and donations) decreased marginally by 0.4%
from £2,489,726120221231 to £2,478,796.
Grants expenditure was E2.146.931 but grant
approva15 during the year were just over £2.2m.
The variance was a deduction from 2022123
grant liabilities with some grants that were
offered during 2022123 ultimately not being
required and which were therefore cancelled
during 2023124.
Trustees ale required to..
Select suitable accounting policies and then
apply them conslstently.
Mal(e judgements and estimates that ère
reasonable and prudent
State whether the policies adopted are in
accordance with the Charities Staternent
of Recommended Practice ISORPI, the
Regulation5 made under section 44 of the
Charities Act and with applicable accounting
standards, subject to any material departures
disclosed and explained in the financial
statements.
Prepare the financial staterllents on a going-
concern basis unless it is inappropriate to
assume that the Charity will continue to
operate.
A comprehensive assessment of Glasspool's
current and future financial situation did not
Identify any financial is5ue5 that could prevent
Glasspool continuing as a going concern for
at least 12 months. The trustee-diiectors have
reached this opinion on the following basis".
The trustee-directors ère responsible for
l(eeping proper accounting records that
disclose with reasonable accuracy at any
time the financial posltion of the Charity and
which enable them to ensure that the financial
statements comply with the Charities Act 2011.
They are also responsible for safeguarding
the assets of the Charity and hence for taking
reasonable steps for the prevention and
detection of fraud or other irregularities.
Around 93% of Glasspool's income is secured
through its investments.
We have no material long-terrn (before April
20241 liabilities with our suppliers and
grant liabilitie5 older than three months are
cancelled.
We have sufficient reserves to cover
commitments made during 2024125.
So far as the trustee-directors are aware. there
is no relevant audit information of which
the Charity's auditors are unaware, and each
tru5tee-director has talien all the 5tep5 that he
or she ought to have taken as a trustee in order
to mal<e himself 01 herself aware of any relevant
audit information and to establish that the
Charity s auditors are aware of that information.
Glasspool's main liability. a Debt on
Withdrawal charge of £157,99112022
valuation) is in respect of a CARE defined
benefit scheme. Thi5 would only be enècted
should the Trust wish to withdraw frorn the
scheme. At present the trustee-director5 do
not intend to do so. Should their position
change. funds to cover the fee could be met
from the'designated reserves" which were
reduced to £200.000 during 2023124, with
these being retained for this purpose and
reviewed annually.
AC Mole have agreed to continue to
audit R L Glasspool Charity Trust's
accounts for 2024125.This report Was
approved by the trustee-directors on 6
December 2024.
R LGL4SSPOOLCNARITYTRusr
APINUAL REPOftT ANOACCOUNt5

DETAILS OF THE TRUST. ITS TRUSTEE-
DIRECTORS. STAFF AND ADVISERS
R L Glasspool Charity Trust
Moinyard Studi05. 80 Rucl(holt Road. London EIO 5FA
Charity Reg. No. 214648
TRUSTEE-DIRECTORS
C Bueno De Mesquits (Deputy Chairl
A Allocco
J Belai
R Birmingharn Iresigned 2 October 20231
Y Ibrahim (appointed 2 October 20231
D Lenton
L Mccarthy
S Outhwaite
M Francoise Itru5tee-director in-waitingl
STAFF
J Green. Chief Executive Officer
E Crawford. Head of Innovation & Impact
N Woodward. Grants Officer
I Simpson, Assistant Grants Officer
SPECIAL ADVISER
K Nunn linvestmentsl
INDEPENDENT AUDITOR5
Acmole
Stafford House
Blackbrook Park Avenue
Taunton
Somerset TAI 2PX
SOLICITORS
Shakespeare Martineau
60 Gracechurch Street
London
EC3V OHR
BANI(ER
CAF BANI( Limited
25 l<inES Hill Avenue
West Malling
Kent ME19 41Q
RLGLA5SPOOLCHARIIYTRusr
ANNUAL REPORT ANDACCOUNTS

' ACCOUNTS

INDEPENDENT AUDITORS, REPORT TO THE TRU
R L GLASSPOOL CHARITYTRUST
Optnlon
We havo authled th? finan¢Tal $talEmenls of R L G12sspooI Chailty Tw$1 Ilhe 'chailty'l lor the year
ended 31 March 2024 whl¢h C4)mpr(s8 th8 Statement ol financial aclivlUe5, Ih? balance sh8el an
statement of ¢ash flows and notes lo the finanda slatemenls, indudln9 a $umm8ry of 81gDSfKant
acuunllng Pol￿?8. The fingnd81 répothg framewNk thai has been applkd In Ihelr preparallon 1$
appllcable law and Unltsd Klngdom A¢counNng S18ndards, includlnq Flnanclal R8POrtlng Slandard 102
'Thè Flnandal R8pothng Standard appIl￿trI¢ UK aNJ Repu￿￿ of Irgland, IUnlt8d Kj'ngdom
Generally Ac¢opl8d Aceounling Pracllcal.
In ouroplnlon, the finanelal stslemenl$'.
g￿fj a true an(F falr ￿eW of thè state of Ihe charws altsirn as al 31 March 2024 and ¢f 11$
Inwmlng ro$ources and appllcaiion gf resources, lortha yoarthèn ended.,
hay? been properly prepared In &cordanc8 wllh Unltod Kingdom G•neralty ￿cepted
A￿untIng Praclth., and
hav•￿8￿ prepar¢d In accordane* wlhlhe r8quk8ments oflh8 Chorflle$Aci 2011.
84615 loroplnlon
Wo Gonduct￿l our 8udll In ac¢ordaw with Inlern8llonal Sland¥d$ on AUdI￿n0 IUIQ IISAS (UK)) and
appllcable I￿. OUr￿spOnsIbl111eY under Ihose slandard5 are lurfher deKrib8d In the Audkorfs
r68pon8lbllili8s for lh8 audit olthe flnantskl slalemenls setbon ol our report. We are Ind?pendenl ol
Iho chartty In accordancè wllh thè 8th1￿1 requlremenls Ihat are r&f8vanlto oyr audll ol the fln8nclal
$lalgmonl$ In the UK, InCI￿J1Dg lh8 FRC'6 ElhScal standard, and wo havo fulflljed our other ￿￿1￿1
r8sponslblllllg8 In ac¢Ndonce wllh thè58 r8qufvm?nls. We bell8ve thallhè audll 8vld8nce we have
obtalnod 1$ 8uffldenl 8r>J approprlate to pro￿d0 a ba&ls forour oplnlon.
ConGlusl¢n6 ielallng to iolng concern
In audmffj thè finandal sl818ments, we hav8 concludgd that tha dlreclors, use ol thè g￿fig con¢orn
ba81$ Qlac￿un1lng In the proparaiion ollhe financ5al slalemèn16 Is 8ppsoprtste.
B888d on tho wothwe *av8 p8rf¢xfn8d, we have not Idontsried any maleri?I vncertalnlles r•lallng I
¢vonls or condI￿On6 that. Indlvldually or Colle¢1￿01Y￿ may casl 8ignificanl on the companV$
S￿l￿Y loeonllnu8 os a golng eoncem lor a p8rlod ofol least￿￿• monlhi from when thefknan¢lAI
$ialernenl$ are aulhoilsed for155Ua.
Ouf respons1￿1114e$ and the Te¥ponsI￿r￿lI0s of Iho dknewrs￿lh rèspect10 9Jlng concern èro
doscrib8d In Ihe rel8vanl 5g¢tlons olthl$ report.
othorlnfomiallon
Theolher Inloimollon compiisès lh6 informatlon Included In Ihe annual report olher than Ihe financAal
statsmnlB and our audlloR8 roport Ihereon. The Iru¥l¢e$ are respon$lble for lh8 other Inlormallon
¢onlained wilhln lh& 8nnu?I report. Our opLnlon on thè financlal 8181omen18 does not Coverth? olher
Informalknn and, 9x￿p1 to the extent 01h•￿1￿8 ?xpllcllly 8taled kn our report, wè do not exprn88 any
form of assuronco concluslon theroon.
RLOiASSPQOLCHARrfYTAU57
IIUAIftEP¢IT ANOACCOLWTS

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF
R L GLASSPOOL CHARITY TRUST
CONTINUED
Our reS￿nsIbIlIty l? lo read Ihe olh8r 5nlorfflallon and, In dolng so. con61derwhethw Ihp olher
Inl¢rm8llon 1$ mal•rlally In¢onsl$lenl with Ih? financial $lalemenls orow knowlgdg¢ obtalned In
tho cfjur90 Ollhe audil or OtheTh￿Se appears lo be maleilally mlyslaled. Ifwe Id8nllfy such rnaterlal
Incon815tsndes LY apparent matarlal mlsslalemenls. we are requlw lo delerrnlne whglher Ihla gl¥06
rf$e io a maleilal mls51algmenl In Ihe financS81 st8lemenl8 Ihem$elve¥. Ir. based on the workwe have
P8rforrn8d, w? conclude that Ih•r¢ 1$ ? malerfal ml$st8lèmènl of Ihl$ olherlnformalkin. we 3r9 r¢qthred
to report that lact.
We have nothkng lo r8POrtln Ihl$ r4gard.
Matt•r8 on whlch wg aro r•iulrod to report by ¢xc•ptk+n
We nav8 nothlng toreport In rèipecl ol the followlng rn8lt8rs in Felalion lo ¥th￿h Iho Chari1￿8
(A¢￿V￿lS and Reports) Regulalbn$ 2008 requlr8 us lo report to you if, in our oplnlon..
tho Informalon glven In the InandaJ$tslernent81s knconslstenl In anymaleilal r•$pactwllh tho
tru$ts86' report., L¥
Ih8chartly h83 not kepladaqualg accounlhig iecords; or
th9 finan¢lal stalemenls ar8 not In agreem8nl wllh tha accounllng rocwiJ$ and rplurn¥'. or
we have not roealved all Informallon and expknallon6 w8 requlre ferour8ud
R95pon¥lblllUg8 of Irugte09
A8 expklnod moffe fully In the fwsl888' ￿spOnSIbilI￿o$ 8tatement6etout on p8g8 19. thetiu&tees are
Bpon$lblo for the preparallon of the ffnanclal slalem8nts and for ￿ing Sallsfied that they glve a Iwe
and lalrvlgw. and lor $uGh lTrlernal control as the tru8106s d818rmlng16 n￿e¥Sary to enablo thè
preparallon ol financlal slalemenls Ihal 019 fro0 fmm matérlal mls$lalemenl, whelhor du• lo fraud or
•rrnr.
In pr¥8rlng Ihe flnanckl slalomènlg, tho Iru8lee$ 018 rosponsibje for 888g$$lnq Ihe tharity's ab51ily lo
conllnu• 88 a gc4ng con¢grn, dl$¢b$lNJ, a$ ApplltAble, matter$ ielal6d Io oolng and ￿￿n9 the
golng con￿rn ba81$ ol a￿OUn1￿9 unleBS the Iru81e•$ elth8r Inlond 10 liquidat¢ Ihe charlty or to Ceo10
operalkn$, or hÈv8 no r8alS$ll¢ atternallve bul lo do W.
Audlto¢• ro8ponolbllltlè$ fortheaudlt of the nnon¢lal 8tatsm•nt8
We havo bean 8ppoinl8d as gudltor under 6e¢llon 144 oflha Charilios 2011 and r•portln
accordance whh regulalknn8 made under 8ection 154 91 thalAcl.
Our oblgcllvoj ale lo oblath r•asonobl¢ 3$¥ur#n￿ abovlwhelherthe fhanda 81atoments as awhdè
aro tree from matarlaF mI551*8rnenl. wholh8r due to fraud or error, and lo188ue an audllof8 reportlhal
kncludes our oplnlon. Rea$onablg a$suMnce Is a hlgh lev81 of 8$8uronce. bul 1$ nol a gu8rgnl8¢ Ihat
an audll eonduclèd In 8ecordanc8 wilh ISA8 IUK) wlll a￿ayS ddocl a maleilal rn1861alemenlwhon11
exlsls. Mlsstalemgnl8 can arl8e from fraud or eFrar and ale eon$lderod rnalefflal If, Indlvldu8lly orln Ihe
aggreuale, they C￿1￿ reasonably be 8xpected to Infiuence tha eeonoml¢ declBlons of users tak￿ on
the basls ofthese fknand￿ 81giements.
RLG1455P¢Ci¢Ii•JUTYTRU57
ANNUALREPQRFl￿P£(ouxTS

INDEPENDENT AUDITORS, REPORT TO T
E TRUSTEES OF
R L GLASSPOOL CHARITY TRUST
CONTINUED
Id¢ntlfylng and a¥88sglng potentlal rl8k8 olmaterlal m158talementdue to Irr•oularftl88
W8 ¢on8klÉred Ihe followlng when idenlifylng and a$sessiftg rl¥k5 of matertsl ml$$lal•mont due to
egularilie5, includlng fraud and non-compllancowlttj laws and reg4Jlab'ons:
the legal and ieguLqlorylram¢wort In whkh Ihg oharilyoperate8
tho s•¢lor Inwhlch lh8 charlly operate6
the control envlronm•ni and conliol$ e$tsbll$hed lo mlligala such Asks
th? rosulis olour e￿VIrI•S of managem8nl about Ihelr Idenufi¢dlion and 8sEèssm¢n¢gf rbk$ of
Irregularille5
di$w$$lon$wllh tho audll enga9¢menl loam about wherè Iraud mlght occur
Ihe Inconlive$ lor fraud.
Law$ Ond fegulallon$ whfch aro Lrnsldered to ￿ $lgnlfi¢anl to Iho tharfly knclude those ro1otln9 10 th9
requ*èmènls of financlal reporthng ffam6work FRS102. the Charities Acl 2011, UK lax leg151alion,
employmenl law and heallh and iafèiy. In ad(I'llon, we ¢on$lder elher18W5 and r8gulaUonwhlch may
nol dirotiiy trnpacl Ih? finan¢lal slatsments bul may Impo￿ on the operallon of Ihe charfty.
As 0 re6uII olthesè pm¢edurè$ we cmcluded. In accordan¢8 with Inltmollonal Audlllng Stsndord8,
Ihai a risk in rejallon lo potenlS01 lor managèment ov?rrld8 of controls Bxl$led.
Audltwpon•a$ to Identlllod
We ￿￿ertoo￿ 0udS1 procèdura$ lo respond lo the rl$ks Id8nlifiod, ènd dejlgned Qui audllt•sllTra lo
rg$pond lothese Ilsk6. The 0ddlUonal protAdurè$ we undertook Included the followh
galnlng an understanding oflhè char5ty'8 pl￿￿ureS for ￿lUr￿n9 compllanc8 wSlh law8 and
r89u1allc￿s
le$llng th? opproprfalenos8 ollournal èntrie¥ and olheradlustments
nstderlng wholher acceunllng •slim8ts$ were Indlcalfve of potenllal blas
on$lderlng whether any Iran$acllons aros8 QUI￿d9 the normal coul$8 ol bu8lnw8
maklng enqylrlg5 olmansgemgnl
coiroborallng our &nqulilè$ through rovbw ol Board IAlnule$ and terro￿OndenCe.
We also communlGaled relevanl laws ?nd Tegulallon$ and POleni&l fraud r18k8 to all enoa9omgnl tgam
m¢rnber$ and r8malned Blertto any Indl¢ators offraud or noTrGompllarKe wlth laws and r8gulalion$
throwhoul Ihè audit.
A Iurtherde$ciSp￿Qn of our rèyponJlbllllle$ k8 avallaN8 on the FlnatKlal Reporflng Councll's webslle al..
or
IAU
Ilor8.r88
Thb do$crlpllon lormB part olour audltov's r¢port.
udi
IL<LA55POOLCKIINYIRU5T
AnwAtfiEPOAT AHOICCOVNTS

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF
R L GLASSPOOL CHARITYTRUST
CONTINUED
Usg of ourreport
Th18 report 1$ made $o1oly lo Ihe charity'$ tru$tee$, a$ a bodyi In accordanc8 with Part4 ollhg
Charitle$ (Accounts and Reports) Regulallons 2006. Our audll work has been undertaken so that
might slat8 to Ihe charily8 Iru81ees Ihtrse matterswe ar8 reqUI￿d to stale lo Ihem Sn an auditorf$
roport aThJ for no olher purp058. Yo the fiJlle$t Oxlent pgrmitted by law, wg dg not a￿pl￿r asgutne
rasponslbllltyto anyone olherthan the eharlly and the th8rlty'$ Ini81ge$ a& a body, for ouravditwork,
for Ihls r8POrt, w lor tho oplnknns w8 haveformed.
A C Moje LLP Islalulory A￿J1¢Or)
Charter8dAccounl8nt5 & Reglslered Audllu8
Stsfford House
ackbrook Park Avénuè
Tgunlon
TA12PX
Data
A C Mole LLP 1$ eliglble for appoSnlmenla8 audllor by ￿rtu9 oll1$ 01￿[bIlIty for appolnbTrent a¥ aud￿Or
of a company under $8cllDn 1212 of the Componles knt2006.
RLG￿POQ￿(￿l￿ThYrRySv
ANNUALREPOR7ANO￿(0uTr￿S

R L GLASSPOOL CHARITY TRUST
STATEMEN
OF
NCIAL ACTIVITIE
YEAR ENDED
MARCH 2024
Unr•strf¢ttd R8strlct¢d Endovm¥ont
Fund#
Funds
Fund
Total
2024
Total
2023
Incomefmm
Dgnadon5
Inv¢stm¢nts
Charltsblo tltlvlll
Other In￿me
20,185
2,308.611
20.18S
2,308.611
IW,000
28.8LY4
2,181.617
900.0
1.306
16QQO)
Total In¢omo
2,328.796
150,000
2,478.796 2,489.728
Chortlable actlvltl¢s
Gran18
Costs of￿antmak[t¥a
2.036,931
299,453
11QlJXI
2,146,931
299,453
1,￿4,094
321.e08
Total gxp&ndltur•
2.336.384
110,01))
2,446.3e4 1275,702
N•t Income boloro
8aln5 8nd1088e$ on
Inv8slrnen18
GalnsllLoss9$1 on inve$tfflonl
as5els
on pon$bn scheme
17,5881
40,000
31412
214,024
189,611
596,552 18,831,031)
16
18.Ce7
18,067
12.540
N•t InGom8110xpondliurel
20Q.090
40,01)0
406,941
647.031 16,604A67
Transf•r8 be￿aOn lund$
Nlt mov¢menl In fund8
200.090
4C6,941
647.D31
16,eo4,40n
R•¢onGlllatlon olfund6'.
Total funds at 1 Aprll 2023
1,323,123
25,000
39,737.808 41,085,931 47,69CI.398
Total l￿d& 8131 M￿h 2024 12
1,523,213
65,000 40,144,749 41,732,962 41,085.931
Th? nolep Qn page$ 30 t¢ 40 trm PBrt oflhese nn8n&al stgtemonts
RLGL45SPOOL¢TrWAT¥Trusr
4INUALREPORT A￿D￿COuNT9

R L GLASSPOOL CHARITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 fvIARCH 2024
tatement of Flnanelal aetivi
he
ear endèd 31 March 202
com
arative
ur
oses-
Re$tated
UnTè$tricted
Funds
Restated
Restricted Endowment
Fund$
Fund
Reststed
Total
2023
Not¢
Income from:
Donations
Investments
Charitable activities
Other income
26,803
2,161,617
200.000
1.306
26,803
2,161,617
300.000
1.306
100,000
Totsl rn¢ome
2,389,726
100.000
2.489,726
Charitable activiti•$
Grants
Cost of grant making
1,879.094
321,608
75,000
1,954.094
321,608
Total expondltur•
2.200,702
75,000
2.275.702
Net in¢ome before gains and
lo¥ses on investments
(Lossesl on investrnent
assets
Gains on pension
schame
189.024
25,000
214,024
(149,754)
(6,681.277) 16,831,0311
18
12,540
12,540
Net incomellexp8ndltur•l
51.810
25,000
16.681.277) 16,604,467)
Tran$fgr bgtween funds
Net movement In fund$
51.810
25.000
{6,681,2771 16.604,467)
R•¢on¢lllatlon of funds:
Total funds al 1 April 2022
1,271,313
46,419,085 47,690.398
Total funds at
31 March 2023
12
1,323.123
25.000
39.737,808 41.085,931
The notès on pages 30 to 40 form part ofthese financial stalements.
RLGLASSPOOLCHARITYTAUSr
ANNUALREPORT ANDACCOUt4T5

R L GLASSPOOL CHARITYTRUST
BALANCE SHEET
AT31 MARCH 2024
2024
2023
Notes
FIXED ASSETS
Tangible
Investments
41,868,723
40,750,?97
41,868,723
40,750,197
CURRENT ASSETS
Debtois
Cash al bank and in hand
32,431
43.980
220,250
437,642
76.411
657,892
CREDITORS- Amounts falling due
within one year
10
1181,4411
1273,3601
NET CURRENT ASSETS
1105,0301
384.532
Provision for liabilities and d)arges
16
130,731}
148,7981
NET ASS￿$
41.732.962
41,085,931
CAPITAL FUND
Endowrnenls
11
40,144.749
39,737,808
INCOME FUNDS
Unrestricted funds..
Designated fund
Other chaitsblè funds
13
200,000
1.323,213
500,000
823,123
1,523,213
1,323,123
Restricted funds
14
65,000
25,0
41,732,962
41,085,931
Approved by the Board of Directors ol R L Glasspool Trustee Limited on...6112124....
.and signed on its bÈhaW by..
Tha notès on pag&s 30 to 40form part ol these finanrAal staternents.
kfA£ts rAoy'
LGiA5sP￿L(HAftrryT￿uST
ANNUAL REPQRT ANOAC(OUNTS

R L GLASSPOOL CHARITY TRUST
STATEME
F CASH FLOWS
CH
Note¥
2024
2023
C18h Ifow from oporallng a¢ilvltlos
17
(2,18D,299) (2,077,720)
Cash Ilowfrom Inv•s￿ng a¢tlvltl•8
Payrnents to acqulre flxed as$o15nvs$im¢nts
Re¢elpls Irotn sales of fixe¢J asset Invesim8nt8
Lyvldends and inleresl receS¥ed
13,606,353) 13,484,546)
3,713,735
1485.085
2,208,611
2,161.817
N¢¢¢a¥h fftow from lrtvesung aotlvldo¥
2,416,993
2,162,168
Not In¢r•￿e In ¢&ih and c85h equlvalonts
Cash and ¢a¢h ¢wlvalènt8 8t l Aprjl 2023
235,694
84,438
437,e42
3632(
Caph and •qulvilents at 31 March 2024
673,336
437,142
Cash al bank and In hand
43,980
437,842
Cash hold￿thIn k)vo$lment portfollo
829,358
Cosh and ¢a•h 04ulvalgnt8 At 31 Mar¢h 2024
673.336
437,642
The nole5 on pag¢$ 30 tts40 form part tsftha￿ flnartlal $tal8rnerts.
RLGiA55PODLCHinifYTftL15Y
AlINUALnEPORT￿D1C(Outlvs

R L GLASS
OOL CHARI
UST
NOTES TO
INANCIAL ST
TS
EAR ENDED
{con￿ny¢d)
A¢COUMtINQ POUCIES
a) B#sls ofproparallon offlnan¢l8lsl8tements
R L Gla$8pod CharilyTru811$ a regisleredcharily in the Unlled Kingdom (England &Walesl.
The addièss of the reglslered office is gi¥8n In the Charlty informallon on pago 20 of Ihese
financlal 51alemenl$. The nature of charlty'$ oporattDll5 and winclpal acuvllles are th
rellgf of person$ who are In n68d, hardsNp or dlslreg8,' or slc4r, convalescent, disabled or
b) 88s18 ofPr¢par411on
The Charity conslllul¢$ a publlc benefit enllty as de￿ned by FRS 1D2. Tho financlal
$tai•mènls havg been prepared In 8ecordan¢e wilh A¢￿untIng and R?poMino by Charllle5'.
Slatemenl of Re¢ornmended Pracli¢o applicable lo ¢haritle$ preparing Ihelr a¢￿UnIS lft
accordance wllh the Financlal Roporting Standard appllcablè In the UK and Republlc ol
Iidand IFRS 1021 i$$ued Sn 2019, the CharWe$ Act 2011 and UK Generally Accopled
Th8 finAn¢lal slalem8nl$ ore piw•nted In stsdlng {£) whlch Is al￿ thè fUnc1(on￿ currency
fof Iha company.
c) Gojng Con¢erft
The Iru$lees hovo r8vlew8d the TrusY$ ejjrrènt and fulure fin#n¢ial $ilu81ion and no
81gnifi￿nt (knubt8 have been k1enllfied to prevenl the Tr¢J81 ¢onttnulng g¥ a golng concern
forthe lor0*#a￿a futur8.
Block grant8 wlll b& dlslflbut¢d to Ironllne portn8r orgonlsallons overy quarter for the
upcomhg y8ar. Although Ineom• frorn Inveslments and 8xtemal lunders is receiv8d
throughout the year, Ihe Trus1è8-Dlreclor8 have sel aside 'deslgnalod funds, lo cover block
granls fL¥ ono enlSre qu8ri8r. lo manage Sncome ¢8shffow.
d) Income
All Incomg Is Ir￿luded In It7è Slatemgnl of FlnanrAal Act￿111￿$ ISOFAI whtn th8 Twsl Is
legalty enlilled to the Ineom8 aft8r any performancè Cor￿lI[0D9 hav8 been mèt, Ihe amount
an ￿ m886vred rdlabw and11 Is probable Ihal the income wlll bo recelwed.
DonaUonB are recognlsèd whèn the Trust boon ol the amovnl8 ond selllemenl
dale In wrlllng. 11 there are condNlons 8lts¢hed lo thè donalion and Ihls requir6$ a bvel ol
performance bolora onlill¢ment can be oblalnèd Ih•i Income ￿ deferred unlil th058
ndlllon8 ar? lully met or Ihe fuifilmenl oltlKse conthllon5 l¥wlthln Ihe control of Ih?eharily
ond11 Is probablo Ihalthoy wlll be fuifiled.
InvgBlfflenl Ir￿orne 16 eain¢d Ihrough holdlno 88s91s for knveilmenl pwpos?$ luth a$
share8.11 Includ6s divid8nd3 8nd Interest. ￿ort 11 Is not pradcable to iderbllfy Invo$lmenl
m8nagemenl costs Incurred wllhln a $d)omg wli h r888onable accuraty thè Investment
InLy)me 1$ reported nel of Ih888 costs. 11 1$ included whon the amovni can b? measured
rdlably. Inlor•$l Income15 r8cognl$ed u81n9 tho effecUv8 Int¢re$l method and d1v1d￿d ond
r￿TrI Income 18 reco9nls6d a# Ihe ¢haritV8 fi9htlo recelvg payment16 OStabllsh8d.
Grants are recognl$ed In full In the year ID whlch they are iee81vabl?. 11 thor0 are
eondllSons allached lo the donation and thlB requlres a lavel of performance bofore
enlliiemonl can b& oblalned then Income Ss deferred unUI those eondilion$ ore fulty met or
Ihe fvlfllmtnl of Ihose ￿n￿lI￿On$ li wilhln th8 control ol th& eharity and il Is proba￿8 that
they wlll bo fulfllkd.
ILGLA$5POQLCMAPJIYTW5Y
IN￿￿AL￿EP0RT1th1Oj￿CO￿IITS

LASSPOOL CHARITY TRUS
NOTES TO THE FINANCIAL STATEMENTS
IConUnued)
ACCOUNTING POLICIES Iconvdl
g) £¥p¢n(Iltur•
All exp8ndilure Is tccounled for on an ac¢iual$ ba819 and has been c18585fied under
headlDgs Ihal a99regale all M$tB rolaled lo the catsgory. E%p8ndllure 1$ recognlsed wherg
Ihere is a legal oi conslructlva ebllgallon to mako payments lo Ihlrd portbs. It15 probable
that th8 selllgmBnl will be r8quired and iho omounl of Iho obllgallon c8n be measuied
rdlably. The expendllure eonsliis of thè followlng ¢alegorle$'.
C05t of g¢nerallryJ lunds Includes Inv8slm8nl monagemont fges, when pracllc8bly
Idenllfiable, and direct property cosl&.
Dir8cI charitabl8 8xpen¢Jlture ojnslsls ord1r8￿ ind Indlrècl oosts 98Boc5Bled w5th the
maln a¢lfvlUès of the Tru51.
Governan¢e ￿$t3 Indude axternal audh, le9￿ adihce an govemonce matter? and
Tru¥1ees'oxpen8￿.
Grants aro accounlgd lor In Iho ygAr they are apwov¢d. Sire8pe¢llvg ol Ihe period (x)v￿e￿
by Ihe grant$. Grants whl(l) havo b4en approved bul not pald at Ihe year end ore includad
wilhln credllor6.
IJ Support¢osts allocallon
Support¢osts are thosè that 8$sl$t lh8 work oflhe RL Gla68pooI Chartty Trust birt do nol
dlré¢lly repr6$8nl char51abl8 8cllvlll8s and In¢lvde offlce ¢osl$, govornanee costs,
accountancy and payroll so￿¢65. They 8re Incurred dlrgclw ln 8UPPOrt of oxpondtturèon
the objects of Ihe charlty and are all allocaitd agaln$l thafil8blo adfvllle$.
oj OfflGO fumlturo8ndequlpment
oirKO fvrnllure and equlpmenl are slat•d8t¢ostorv8luallon b$$ 8cwmuJaled ¢Yepreclo1
and 2ccumvlalad Impalrrn8nl fos$e6. Purchasos of ass818 of ￿lu¢ £1,000 and over are
¢spllallsed. DgprecLgllon Is provlded On all cap11*16ed a$$ei$ al rates e511mated lo wiH# off
the cost I￿ e¥lm8ied re$ldvalvalue, oleach as881 overl1$ 8xpect¢d useful Ilf¢ a¥lOll￿¥s..
Offic6*Jrnllur•and equlpw*nt
3 years str019ht kne
h) Inv¢8tmont3$sets
Inveslmonts aro rn¢ognl88d Inlllalty at lalr value wh5oh Lg nfmlly the transaellon ￿ce
ex¢ludlng Iranso¢llon cos19. Subsequently. Ihoy are measured al lalr valuo lal mid-prfcel
wllh changes recognlsed in'nal ualn511105s?$l on Irw8slmenls' In lh8 SOFA If the 5h8r85
are publl¢tylraded orlhelifalrvalue can olherwlsebèmè8sur8d rellably.
D¥lJtor• ond¢rodltoi8 M¢•lvathl•/payabl• wllhln oneye8r
Debtor$ and ¢￿ditorS r0colvabl& or ￿Yable wilhln on? year 8ro Temrded at transaellon
price. Any losse¥ arI5Ing from Impalrmenl 8re recognlsed In gxp¢ndrturo, ui year In
whkh Ihe Impairment ad8es.
JJ Funds
Unreslrl¢ted funds are donatlons and other IncornSng rèsaur¢$s r¢¢8lvable ol generated for
the oblecl$ of the Charlty wllhoul furthtr spedfi8d puipo88 and are available a$ 96n•ral
lund$. Th& Trusloe$ have deslgnated eertaln funds for specific purpos9$. The$¢ are sol
Out in Nots 13.
Th& pOrma￿nI èndowment lund Is 8 capital wberg Ih8r?18 no power lo ¢onvert Ihe
capftal Into Income. 11 musl be hèld indeffnilety.
RLGLA55POOLCMIANYIRUST
ANNUAtnEPOATJ%lDACCWPlfS

L GLASSPOOL CHARITYTRUS
OTES TO THE FI
ANCIAL STATEMENTS
ICDnUnu90
ACCOUNllNG PoL￿lEs l¢onVd
Re$trl¢led fuftds alè funds whlch ar8 to bg used In a¢¢ordance wllh Gpèdfic rg8trldlDn$
mpo$ed by donorg or whlch hav8 bgen ralsed by thè ehartly for partl¢ular purpo8es. If any
dkecl wsts of tslsiny and admlnl8leiing such fiJnd$, 8u¢h costs are charged again81 Ih¢
sp8cifL fund. The aim and u$e ol eath reslrfcted fund 1$ $¢1 oul In the ngts8 ty tho
llnandal Slalemenls.
Ponslon$
Th8 R L Glas6pooI Charlty Trust (charlly) oper8leJ a dth8d conlilbullon p18n, maklng
payments lo Ind￿dUal penslon Schemes In ae¢ordanco wllh Ihelf contract ef tmployrnenl,
A numbei ol Ihe Charity's emplgy¢8$ bebng lo th4 P8nsloD'¥ Trust Cgro8r Avèr8g8
Revalued Earnlngs I'CARE? Penslon Scheme, whlch 1$ a defined bgneflt $¢heme. As11 Is
not po$$lble lo Idenilfy iho ch8ri1y'$ $hare ol the underlylng assets and 1Sablllll&s In the
schgme on a ¢on6161enl and re8son&bl8 ba$l8, conlilbullon5 are charged lo the In￿￿e and
expfrndllvre ac¢ouni 0$ Ihoy are pald. The ¢harily alsts makes conlrlbullons lo the schèmo
in rekuon to a defl¢il on a past employees, deljned benefit 5chomg and h) 8ccord8n¢e wilh
FRS 102 tho ¢hailly re¢ogn158s Ihe pr8$ent valuo olconirSbullons payable.
IJ Op8r8tlngL¢a8
Rènials appllcablg lo operallng 18#8es wh&r8 eub$tsnlklly all ol the benefits and ri$k$ of
ownerBhlp rernaln wSlh the lessor are charged to tho Slatemenl of Flnanclal Act5vlllè$ on a
slralghl line basls overthe period ollh8 lease.
m) Judgwn•ntsandkeysource$ of 98llmation twKert&lnty
ACC￿￿tIng ¢$limale5 8ndludg?menl$ aro conllnuallyevaluated and arè based on hi8lorlcal
pxpeibnc6 and Other fa¢lor$. In¢iudlno expeclaiions of future ov¢nts Ihal ar8 belleved lo be
r8a8onable uftderthe ¢4￿Urr￿stanC6$.
There are no k6y assurnplionB con¢8rnln9 thè fulufg olhgr key sourc88 0188llmallon
uncertalnty al tho fapDrtlng dat8 that have o slonificanl rfsk of ￿Y¥ln9 a malorial adluslmenl
lo the carylng amoun18 of 8858ls and Ilabllilles wHhln rFexl finan¢lal yéar.
nj Prlorporlod•dJustfft¢nis
Where an error or oml$sJon Idenllfled In r6sped of eompar8bve fjgurt8 Ihls Is adlu$lod In
the precedSng perfod.
RLCUSSPOOICHOJIPTYIftUSY
NUALREPORT ANDACIOUNYS

R L GLASSPOOL CHARITYTRUST
NOTES TO
FINANCIAL ST
TE
R EPIDED 3
Iconlinuedl
INCOME FROM INVE8TMENT8
2024
2023
Other Invt8lmeTht Income
2,306,611
2,161.617
2.308,611
2,161,617
INCOME FROM CHARITABLE ACTivmES- A8 ra$tat¢d
2024
2023
Grér
150,QJO
3CKI.L
160.000
300,000
Grant In￿ Included £150.00012023'. £100,000) olre9tr1cted In¢LX)1O.
¢HARITAeLE ACTIVITIE8-A8 R•$tatsd
2024
2023
Grants;
E6¥8ntSal Llvlng Fund
2.148.951
1,954.094
2,146.931
1.954.094
HR¢￿ta.
Wage$
Sodal so￿rity
Penslon
Redundancy Pay
Other HR Costs
154,480
11,398
30,749
f,¢OO
4.283
153.871
10.770
31,341
8.808
201,8
202,$90
D8vebpmenl
Communlcaiions & Subscrtplloni
Ofrk8 Ctrsts & IT
Travel
SuTrJry
F•es pald loAudllws fornon oud
Bookkeg￿nq and accounlancy108s
Insursnce
Inveslrngnl manager fee$
Governan￿ lseg Nole 61
1,950
9,412
37.841
12,Q73
83.365
528
251
1,046
11,755
3,569
12.235
13,442
19.221
3.191
11,997
17,333
2N46.3B4
2,276,702
Grant8 IE668nllal L￿{nu Fund) Include$ £110,00012023.' £75,0001 of 8XF4ndllui?whE¢h wag da551fied
a$ reslrlcted in the StBlemenlol Fhianchl Acimlies.
RL¢L455PODLCMAII7Y7nu5T
AIINV•IBEPORTMDK<OUNfs

R L GLASSPOOL CHARITY TRUST
NOTES TO T
E FINANCIAL STATEMENTS
REN
IConUnuedl
CNARITABLE ACTIVITIES lctsntlnuedl
Av6ro9¢ nuffjbor ofemployaes
Numbbr accrulng r8llr8mani b¢nefit¥ underdefinEd
benerrt penglon schome8
2024
2023
Ona Èmployoe reCe￿ed rémunèralion In exc885 of£O0,000 (2023.. Mn81.
Th8 numb•r of omployee8 who emo*Jments lell wtlhln Iha follwAn9 bands wo$..
2024
2023
£eo.001.£70,QQ)
All qranlsto orgJnlJattoni ara admknlstewdtsr the banefitofnamed hdlvlthJals.
TRU6TEE8'AND KEY MANAGEMENT PERSONNEL REMUNERATIONAND EXPRNSE8
The tr￿￿0& dFd not r¢¢tlve any Temu￿ratIOn Ih&yearP023'. £NII).
Tho lotal amount of gmpbyee benefits r8C8lv8d by key management per8onn*l IS £76,080 (2023:
£73,114). Tha Tfu$I Mnsld•r¥ Its key managom•nt Por8onn81 to ¢¢mprf88 Ch￿r
Ex$cuiivo Offlcor.
21rusl8as had axponJe$ relmbursed durkng Ihe yeartol8lllng £38512023.. 1 fDJ8tee-£978).
GOVERNANCE ¢08T8
2024
2023
Audttf688-kr8udit $eMcos
Audllf68$- lor Oiher se￿re5
Legal and Consullpncy foes
Trustee Me81kn￿ 8nd oxpen685
Trustee Tr￿ThIng
8,292
5,454
2,100
1,239
248
7.710
1,732
17,333
13W2
TANGIBLE FLXED A8SET8
Fumllur¢ &
Equlpm•nt
COST
Al 1 Awll 2023
59,852
Al 31 March 2024
59.852
DEPRECIATION
Al 1 Aprll 2023
59.852
At 31 Morch 2024
59,852
NET BOOK VALUE
31 MaTch 2024
81 Mai¢h 2023
RtGLAWOOLCHARffYIWST
AtIMknAIREPOItTINDACCOUTrftS

RLGLA
SPOOL CHARITY TRUST
OTE
IALS
ATEMENTS
EYEAR ENDE03
IConUnu¢dl
ARC
2024
8. FIXEDASSETINVESTMENT8
Markot valL¢8
1 Aprll 2023
Acqulr•d
In year
Dlgpo$•d
In ye8r
Inupasel
Idecie•801
In market
Value
Markqt
Vdlu?
31 Ma￿h
2024
Ch3illablv Property P￿d
M&0 Charlfvrtd
Clvlla$ So¢l•l Hou•lng
HICL Inlra¥tru¢lur¢ Pi¢
Unlcom UJ( Income Fynd
Yhe Ronowobha Infraslru¢iur•
Gp
M8yfairCapltal PITCH
Blu•n•ld Solarlneom Fund
ie?rs¢og1 UKWin41
SPDR s&p f>lobal Ohf.
ATFsto¢ro
In¢einollDnal Publ1¢ Partr￿f
NB Priv81e Equity Partners
Prlnuts Prfv4le Eoulty
S¢oiiiih M¢rtgAg¢
Tilple PolDI So¢lal Hou91ng
OulnJB3 Gkbal Equlty Incorne
M¢nk8
Roy81 Lor
1,737,?20
4.OBZ,282
2.054.994
3,484,r57
3,074,050
1114.1541
174,¥e31
1.622.9eo
4.Q07,71
12,054,9>41
1647,9941 .
121,575
2,141,763
3,195,e31
3,563,008
4,267,657
1,674,95D
2,676,137
1689.0401
1271,7011
1467.6401
P90,e861
2￿￿3,86$
1,2Q7,41Q
2,284,44
937,955
1,699,099
4.805,353
3,OS4,19e
1,388.925
410,258
1,003,061
1.QJZ,309
?3,52fj
IZ29.705}
701.137
377N
440,870
248,620
277,e53
169.723
51,48
1.369.384
s￿08.490
3h31,892
1.429,795
2.194,361
2,611,675
1.094,678
1,63Q463
1,530,￿1
167A941
1644,9991
544,M9
4V.76Q.197
3,OQ6.313
.887,?gn
1428,7881
41,230,367
Ca•h hekl thV•¥tsn•n1￿rff￿
629.¥8
Tolal
40,710.197
41088,723
Hthtolkal c￿1
44.977,619
,219.462
All Inveqtrnenl8 are carrlgd ot th¢lr18lr valug. Inv?81mgnts In ¢qvlllg8 gre oll treded In quoted
publ1¢ markets, prlm6rTly th6 London $lo¢k Ex¢lMnue. Hoidings In ¢ommon Invetslmentbjnds.
unil Irusl8 end vpen-ended Invesimenl companles ao al Ihe mld prth. Thè ba514 olfolrvalue
forqu0￿d IrN8slmoni8 1$ •qulvalonl lo Ihe maiketV8lue. u81ng Ihe mld pFIc8. A88el 881¢8 and
purchao¢$ ore recognlsed atthe dale olliad• al co$1 Vhal ts t￿Irtra￿dron value).
9. DEBTOR8
2024
2Q2a
Pr8paymeni6 and ttuu•d Income
Olherdebl•r$
7,689
24,742
6.780
211.490
32A31
220,260
ftLGL4S5PtrX(IL41ryYTRi61
A¥￿EPORT A4DI((IYmT5

R L GLASSPOOL C
ARITY TRU
OTES T
E FINANC
L STATEME
AR ENDED 31 MARC
(Coniinued)
fo. CREQITOR8: Amoun18 lalllng dugwlthln ono yèar
2024
2023
Accruals & Olher
Gran18 commilmenls
74,379
107.Cfj2
84,731
186,629
181.441
273,360
11. ENDOWMENTS
P¢rmonenl endowrn8nl#
Thèfund5 ￿re establlshed undera Deed ofTrusl daled24 July 1939 ond a S￿ppIe￿ne￿t¥l Deod of
TruBI dated 29 July 1847 by the late Mr R L Gla56pooI, Thè Deeds of Trust were repla￿d by a
Schgm8 dated 17 Novèmber 1998 under Ihg Chari110s Act 1993. The almB of Iho Tiu$l arè slated
on page 7 of the Annual Roport. All in¢oming resour￿& from permanont èndowman18 1$
unre51ricled. Thg Irpn5fer between ondowmfrnl lund$ And general fund tj lo r¢tle¢t Ihe muthet
value po$lllon al Ih8yearend ofihe fixèd 888el Invoèiménls.
12. ANALY818 OF NEY ASSET8 BETWEEN FUNDS
Unr¢•trl¢tvd Re8trl¢tsd Endowm•nt
Fun1$
Fund8
Funds
Total Funds
2024
Total Fun(l•
2023
Flx¢d Assts
1,723,974
40,144,749
41.868.723
40,750,197
N?leurrent
o$s¢Is
1170.080)
05,OL))
1105.0301
384,532
1.553.944
6S.QOO 40.144,749
41,763.693
41,134.729
PoMl¢n Llablllty
130.7311
130,731)
148,7981
1.023,213
65.QOD 40,144,749
41,732,962
41,086.931
¢omparallvé parlod.R•¥tatod
lJnr06trlcted
Fund¥
R•¥trlcf•d
Fund8
Endowm•nt
Fund¥
Total Fts#ds
2023
Ffrxed asBets
Ne1¢U￿en1a61ets
1,012289
359,532
3tr,737,808
40,750.197
384.532
26.CQO
1,371,921
25,O)0
39,n7,808
41,134,729
Pontslonllablity
148.79S1
148,7981
1,323,123
25.000
39.737,808
41,086,931
RLGWSPOOL(HIlI￿lftDSI
AMlaYALnEPOftT I￿>A(cOuNT5

L GLASSPOOL CHARITYTRUST
OTES TO THE FINANCIAL STATEMEN
YEA
ENDED3
Iconbnuedl
12. DE819NATED FUND
Bil4n
1 Aprfl 2023
Movement
tn y¢ar
Balan¢0
31 PAarch 2024
Trn¥foM
Pgnsl¢nioseN&
600,000
o,oco)
2fy),000
Comp4rabl• Inlorm•tlon
Balance
l Aprjl 2022
Movemon¢
In yèa
Balan¢¢
31 March 202J
Transforn
Pen8Sonre$eNO
600,Q)D
Tlw penglDn TrseNe' represvnts reserves Ihat the TNsleeg hBve dB$lgnaled lo rnanaBe the dsks
a550daled wllh paTI￿palIty) In The P0n51on5 Trust Career Average Revalued Eainlros Pensions
Scheme, Indudlng Iho potonllal eosl lowmhdraw from Ihe Scheme. sIn￿ Ihgyear end the Trwlo* hav8
bèen advlsed by Ihe Scheme 8cIu8118s ltr￿ Ihe Employerdebt on wilhdrawal for the Tn￿1 Is t5￿Mated to
In tha regim tsf £104,000. The Tw51oe5 Ih0refor6 Inte￿ lo r8vlew the 18v81 of d8slgnalod rwN88 81
fulure Board Theeungs. and conllnua lo manage the N6k6 a6soolaied wlth parfidpouon In the
Schemfr.
13. RE8TRICTEO FUND
Belanee
1 APTII 2023
BHlan¢e
xpendoturo 31 March 2024
Incomo
Drap8rs
Sklnn$rs
Merce
Newby Trust
26,CbJO
26.000
10,000
40.000
75,QJO
125,0001
110,000)
26.020
8,rKJ
26,QOO
15CI,IKNJ
1110,000)
85,ON)
Draperi •Mo¢oiion of Floxlble Fronlllng Fund granlo UP to £750 acro48 th8 London Borough of
Walth8m Forest durfng 2024r25.
SkSnn8r8 alloe8llon of E88enlAI Uvlng Ftsnd yrènls UP to £600 pèr gmt, a¢rofys KeDt and London,
ov¢r 2023124.
M&reera-ollo¢alion of Flèxlbla Fronlllno Fund granls up la £760 pergianl, lorpeopl• 8god 55 8nd over,
8¢r080 London. duTSng 2024126.
N¢wby Trust
8llocallon of Eli￿11￿1 UvlnB Fund gr4n15, 14> 10 £400 per 9ianl, ov8r 2023124.
Household$ mts$l Indude ot le88t th)e pèrson o¥p¢rf?n¢lng lln8n¢lo1 hard$hlp, plus onolher glgnlflcAnt
¢halleng8. Buch as b8r88vom8nt, d5vorc8, abuse. hom8108sn81s, 8ddlctl¢n. dl$•bllity, 0r111 heamh.
Comp•r•iiv• Infomiallon IR•8latsdl
Balance
l Aprfl 2022
Balane
Exp?ndliur• 31 Mar¢h 2023
In¢omg
Dt8per8
NthvbyTNuBI
25,000
75.000
25,QtsJ
176,C
100,QOJ
(75,IX¥))
25,0
RL¢LASSPOOL¢II•JiiTYIRusr
INNVAiftÉpoRf4MDAC<OUNTS

R L GLASSPOOL CHARITY TRUST
NOTES TOTHE FINANCIAL S
MENTS
YEAR ENDED
Icendnuedl
115. FINANCiALCOMMITMENTS
Al 31 Morch 2024 tha TN51 had annul ¢ommltmènls vnder cperallng leases. lolal lulure
mlnimum llnanc8 leaso paym•nt5 are as follows..
Land and Bulllllngi
2024
2023
other
2024
2023
Not laièrihan orffj year
7.700
7,700
q6. PENSION
A numbor ofthe R L Glasspool ¢harFty Tw$1 Icharityl cuirenl and pa$1 8mplDy88$ are membefs
of Pension8 Tw6t (TPTIA Care¢r Average Revalued E8rnlng8 I CARE'J Pen$lon Schemo
whlch is adosed Mulll.Employer Definad Beneflis sehornewllh Ihg as8el$ balng hBld In aTruslee
admlnl$lered lund. Th8 5chgme wa$ closed by Ihè ￿hem0,8 tru81ee (V&rty Trvstee Llmlledl lft
ApA12018.
The lèiest full a¢luarfal valuation of tho s¢hgm& wa$ earned oul on 30 Seplgmb8r 2￿2. Th18
V8th1ion showed 8S8el$ 01 £49.6 rniNon.11oblllUes 01 £57.1 fflllllon and a def￿￿1 of £7.5 rnllllon.
ThLs LI6￿￿115 bfrlng recovered from employe[$ wllh annual'd6ficll conlrtbuilons, pald annually on
161 Aprll escalating al 3% pa over the rg￿V0ry perlod (to >) Sèptember 20271 Ihat has been
agreed wlth Thè P8n51on$ Re9ulalor. In th8 comlng year Ihe ¢harlty's d8ficil ￿ntributionS are
£10,e69. Tho tharity ha8 re￿gnIsed a liab1151y mgasured a5 Ih8 pr¢6ent valuo of thè
nlrlbultons payablè Ihal aAse Irom thè defial r8CQV¢ry.
Pi•Mntvalu• of provl8lon
2024
2023
Presenlvalu?ofdofictl provlBEon
30.731
48,798
R¢¢ondlthtlon of opgnln9 and ¢loilng pmvlglon$
2024
2023
PJoVJ￿th al I￿rt olyeer
Umlndkng of the dls¢ountfa(atY
DefK4tcontrfbul￿n pald
Remeasw8menl8-Impacl 018ny d)?nges h assumplbns
Rern8asw8ments-omendmonts to Ihg ￿ntributIon schedulè
48,798
2,234
111,4981
97
I8￿D0)
61,338
1,411
111.1631
<2,7881
PithI￿oN at end oly8ar
30,731
48,798
RLGL155POOLuMllnYilUSI

R L GLASSP
OL CHA
TY TRUST
TESTOT
E FINANCIAL STATEMENT
FO
R ENDED
lconllnuedl
1& PENSION Iconllnuedl
A8sumptlon$
31 March 2024
% perannum
4.95
31 M•r¢h 2023
% perannum
5.18
31 Mar¢h 2022
% p8rannum
2.55
R* oldk8count
The dlscwni rates Show￿ abovè #r8 Iho equlvilenl dlscounl ratss wNch. when used lo
dL9counl ihe fulur8 recovery plan conirtbullons due, would glve Ih& $arn8 re5u118 as uslng a
AA wrporale bond yl8Jd oJTheto dlscount the Same Fecovery plan contrtbullon$.
Curr•ntStaff PenJlonSch•m•
th th8 ¢198ln9 olthe CARE schome the (*arfty mov•d all tho ￿811t¥j otaff Inle TP7'8 Fl6¥lblo
Rellrement P￿n a OC sch8me and agr88d lo coniinue paying 11.5% 01 the employees,
pensionablg salary as th8 grrployerconlrlbulFon IlggBlherwllh an In$Vi￿¢& thalwould
coverslxtlmes Ihe employ88* pen$lon8￿8 $81ary ahould thèy dlè In serwlcel.
Total Ponslon ¢osts
Th• conlrlbutlons of Ihg ¢hoAty omtrJnl¢d to £30,749 P023.. £31,341). Included
prepayment¥ 1$ £069 of pen#ion ocnlrlbtstionj due 91 the year end12023., £1,440 h￿uded In
a¢crualsl.
17. RECONCILIATION OF NETINCOME TO NET CASH FLOWFROM OPERATINO
ACTJVITIES
2024
2023
N81 Incom? b8lor8 g81nslllo88eBI
on Investmenis and pgn8lon8
Dlvldend8 and Interest r8ce5ved
D6crea58 In debtors
IOecr8asel In ¢redllors
32,412
214,024
12,308,811) 12.101,6171
167.819
8,104
191,919)
1138,2311
Nal eash llow In￿ op8rallw aall￿gIeS
12,180,299) 12.077,720)
l& ReLAYED PARTYTIUN8ACTIONg
Durlng Ihèye8rthei8were no relal8d partytraNacllons12023'. n¢￿e}.
Transacuons Wrfh Iru$tg98 and key monog8m8nl personnel ale thsdoied Irs Note S.
QLGLASSPCOLCMIRITYTwsr
NUALnEpoAT A¥DKCf4lhTS

R L GLASSP
OL CHARITY TRU
OTES TO THE FINANCIAL STAT
MENTS
DED
Iconllnuedl
19. CONTINGENT LIABLifiES
A5 sel out In Note 16. 11* TDJsi Is a membef ol The Pen51on5 Tw51 Career Averagg R8valu8d EarnSn9$
Pen￿on Scheme, which ly a doi8d Mulb"Employer 0ofln8d 88nefrt Sch8me. In the event that the Trust Is
the'Lq¥l man $landinrf of employers vMlhln Schème Il would be¢ome Ilablo to a fvmher labllity under
the terms of the Sthrno. Th& full Ilablllll8s ollhe Schoma èrè #el out In nol¢ 16. The Trusiees are actN8Iy
tak￿g 5bp5 tornanw th1$ A¥k, Ythch thoy ccffl$ld￿lo bB remol8.
20. RESTATEMEIIT OF FUNDS
Duilw Lh6 year, tt was Wenllfled that 8 rè$liKled grant of £75,OtX) wa5 IrKorreclSy uiduded a5 unrB51riGt8d
orro h th8 ¢omparallvg ngure$. Actordifigly. a prior y88r 8dju$lmenl has been made lo r881010
IKorne a$ re$Mcted InLwa. Thg r¢8uII of thi5 adjuslmenl 1$ to Smaso re$irfcbJ hcom8 Irom ¢harilablo
8Ctwilles by £75,DJOand reduce unro$trf¢led ￿n￿rne ty £75,00).
In addllon. tho r81al8d exp9ndluro ¢1 £75,000 was recorded a$ un(e$ifi¢ied 8xpsnthiur0, A prfLY pgrfrm
8djvBlmenlha$ been madg tr) re$tab th1$ &¥k￿￿￿lIvE0 to reStr￿ted expendilure. Th¢ re8uII olthl$ *lustmgnt
Is to In￿ease ￿$￿￿tEd expendliura on charllaN• 8ClMIL8$ ty £75,QQJ an(5 reduce unreBlI￿led expendllure
onchailt4ble act1v￿o$ by £75,(￿).
Ther915 no n8lknpa¢ton loial asgets orthe olnet 858et¥ ty a$ a r•5ulof th8sa ￿PJSIm9Dts.
QLGLaS5pOOLC￿4IlTYyjvjY
AMtWALREPORfANOAC£OVMTS

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