(Registered Charity Number 218796) THE GRACEWELL FosfER TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 IHOMAS +YounG CHARTERED ACCOutyTANT5 * REGISTEREU AUDITORS
THE GRACEWELL FosfER TRusr YEAR ENDED 31 JANUARY 2024 corirENTS PAGE Balan tst 10-17
THE GRACEWELL FosfER TRUST TRusfEES' REPORT YEAR ENDED 31 JANUARY 2024 The Trustee5 present thr rert and the ajited financial Statan of the Trust for the year ded 31 January 2024. The Trust% have ath)Fed the Prov5 d the Statt of ReIDmnth1 PrnctKe (SCrfIP) 'Nth)ulltkng and RepIng Cfvane Sn weparing the annual and finKki1 statements of the Tru The finaal statements have been pyepared with (nting lKieS set out in notes to the accounts and comply wtth the charitfs &eM9 &xunw)t, the 0rrI]eS Art 2011 aThJ Accounting and RerAxting by Chartties.. Statertient of Rpmmrrended Facb. ap1¢ble to charrt5 preparin9 their accounts in accordan with the nana41 Reporting Stsndard In the UK and of trekThJ wL4ithed Tr) Cttober 2019. &acewell Foster Trust fthe Tru5f) was founded ty the 11 of Arthur Henry Fcrter, which was ¢xoved on 3 January 1929. The dnge of narne to The GrVe41 Fo&er Tru was regiered with the Chaiity CommissK)ner ¢)n 20 Septernter 2012. The TrLLsi is a Lsterj Tru no. 218796. and os rw1aiI iry a of the LTharty CommissK)ner5 sealed on 11 April 197B. The Tnjst is affi10ted to The Almshj* As9xaaxm. TrUStEES The Trustees who served thjring and the r end ag fdbws: Mr l Maha1 Miss D Mattson Mr E Rodgers Mrs N Pozzi Mrs M 3thes Ms L Fryer Mr A Holand {Chalmw- rewned 11 WI 2024) (ChaIrnn- apwinted 30 2024) (appJ¥ited 31 Juty 2023) EXECUTIVE OFFICER AND PRINCIPAL OFFI The Executive Offiw is J Gthn The Wincip Offi Is.. 271 Wake Green Ro&J Moseley Birn)ingham B13 9XL ADVISORS DUIUNG THE PERIOD AdOIs. Thomas and Yourrtj Limi Cath House 266-268 Stratrord Ro&J shi1y Solihull West Mklands 890 3AD Bafiker5.' HSBC Bank PLC
THE GRACEWELL FosfER TRusr TRusfEE5' REPORT (continued) YEAR ENDED 31 JANUARY 2024 STRucniRE. GOVERIIANCE AND MAIIAGEMEiir The day.tQ-day managetllent of the Trust i% carrth out Ery a sinaN staff at rts prtndrA41 offl. The Trustee5 mt at feast six times ead) year when they congts overall thtegy, kmoperty and investmenl tnattu5, risk managennt, finan5 and all rnatters rela¥ng to the ent rnan&aement of the Tru Varhjus sINrnrttee5. ts) the Truthsi operate to improve the 5rnC¢)th manJJeFnent of the Trust Under the tenns of the Sdw referr8J to abm, thwe thal te a maxÈmum ofkn all being ctroptative. Pn"or to the aptK)intsnent of trustees, they a gNen a full and detailed outfine of Trux rts objecrfves and ts &tfvit5. and the w)liaes whKth are hWed to ensure the swnd pWF¢)rmaTh of TrusL The wndpal obiectNe of the Twst 15 to ensure the weM-ten9 aThJ happirE55 of all the ladks who are acCcfflnm)dad in the Trusvs prOr0"eS. The CThalm)an and otherTru#ees the to med with the ExjtTr and the Scheme Managers to efisure that they are aware of the day to day actfvrfJ& of the TN The ¢JbJ'ect of Tnt is to pmvide Almsh [nc¥j swvJle bJte5 ae ONEr the e of 55 yeats arKI of 1Smiied fjnanoa5 nwns. There are 62 5ew-cLts1rted h(wsry units in total, CLNnryi5ing 16 12 flats In category l and 34 flats {Foster5} in Ce9 2. In setting thar obJecb¥es, the Tru&ee5 haNe cOnShknati to the Charity cmISSI)n'5 generdl advice on publ fft. TheTwst empby5 a fvll tme War&nlklvne Manw who, with the ald ofa ruty part-b"n Wardenlscheme Manager and one other part.ume ernployee erurts that the negts of the regdents are meL and a o)ngenial envfronment pmvkjed. The Trustabo employsa part4ime Executwe OffKer. MaIntenanc{the faLYicof the estre and gardens and grovnds is undertaken to a hÈ9h tsndard by intspendent contrth. The Tntsiees o)ns#Jer fnate in han9 such a dedicated team in charye of the day-trAay runnirtsJ of the homes and in the qual ofthe suvres wowded thr contreKtors. TheTrust Ls prilpHI resourced Week Maintenan c£¥th"trtrt>Jnsfr0rn the reshkn In ordwto finan erdinary palrs, routine maIntOn and rnantenaft repays the Trust Irdnslers The Aknthcyjse ASsat)n'5 rtrcffimeThJed amounts into desjnated reserbEs. ACHIEVEMEKfs AND PERFOPMAHCE 7he Trust rnaintsins a reasonable W of Inkls. wlth kKwtyes mainty tEing wJJ dunrKJ Feriods of refurlxshmwt or redecorntion folbwing a tenefKiary kawng home. It is the of the TriLtrs tha¢ when Okr propaties are vacated, full refurtsshrneut takes pe fv to beiFwJ ¢)¢PIed ty a ne benefKiary. takes loryjer than a simple dKoration. The newer prok*rties are ¥eknrated and undergo a full rul to re ktbng. Th& way the Tw5t rnaintslns the hKJh quality and high stsndard of for Lwjrthn ty Its ben(lar1e% The Trust ts not Invo fund-raN"rKJ actpts,. hCrt. we atwy. fn)m ti[tTr. to grant gIng charibes for The Trust the rethts on a rwjular basis during the year to hdp • the TS objrn ofering their needs are Tnet and a congenial envtronment wovitst The Chawman an ann1 wth all the resderts to dl any COnM$ that they v the Trukn may he.
THE GRACEWELL FosfER TRUST TRusfEES' REPORT (continued) YEAR ENDED 31 JANUARY 2024 FINANCIAL REVIEW The Financial Strtetnents show a r[AuS fortheyear, trEfOthe rlUath)n 1ThSnts. ofQ3.26512023: £20,655) and the accumuL4ted fund 31an at 31 January 2024 VAS £1,662.635. The Tnjst receNed donations d El,tJ)) {2023: £2,) duwlng the year. The Trustees confimi that inVestnts the Tnst whkth a #ated at rTk3rket value, have en in accordan with the tx)wers availab to the Tnjstees. have Jwn rthed dunno the year. The Tnjstees con9der that the funds can meet the Tnjsvs oiKJatK)ns. IIIVEsfMENT POUCY It ts the wltcy ofthe Trustees to seek tD ach a LdaKed return ben and caixtrl (Ner the knj term. The rnatket value ol in1ments hekl at 31 January 2024 was £1.115.977. Movements in tt ock mathet during the year have resultwj in a increase of £43,972 ts) the unre&i5oJ galns at 31 Ja)uary 2024. RESERVES It is the policy of the Truth to keep Free ReseThEfj & a level that yk1 meet 3 and 6 m¢Mth5' ey4Enditure of the Trust Based the 2023124 accounts ts barKJ would tp £96.884 to £193,768. At 31 January 2024 unrestn"(tsd revenue reserves amcJnted to É435.743 baL)Tr in the cythal MOIntenan and ethordlnary repair funds are £17.218 and £827,397 At present the Free R&er¥e5 ant to £435,743 whkth is lthe the tsrget I. PLAIIS FOR THE FiuRE The Trust pFans to continue its of InwwThJ its Fcfeffjes o arKI Wh the optKrftunlUes ae. The Trust also aims to athve as near 100% CUpat1n d its woperties as p)S5th and mamtsin a waiting list of 5uiiatde candhlates. Various items of expendiiure are COrJ. or are rcesw. for the 2024125 FUNDS HELD AS cusfoDIAN TRLisfEE The Trust does art as a CustcJian Truee tswefore assets are heJ. RISK MANAGEMeNT The Trustees have examined the Strateg and orvatsonal risks whKh the Trust feS and confimi that systems have een estsblished to minimise these risks. The Trvstee5 rth these F0e$ regEkrty to ensure that tw stsll meet the Trusvs needs, TRUSTEES, RESPONSIBILrnES sfATEMEI The Trust£Es are sponsible for preparir¥J the Tree< Annual Re[rt aThl the Fmancial Statements in aordan0 wlth appIe law and Untsd KOng(kni A(nXJnt1 StsThJard5 (Unrted kng¢kni ACpted Puounting praL). The apkable to dwribes in EnglaThJ and Wale5 rg]vires the Tru#ees to pepare fin6nciol Strtements for each finandal year, which gfve a true and fair view of the state of affairs c4 the Tnjst aTrJ of the inixjrning resources and appltation of of the Tnst for that per. kn preparing nanaal S13tewts, the Tru#ees are required . ake judgenEnts and esknmate5 that are reaxJnat4e aThJ wudLYrt,' state whethef arwlcable accourhting stsThJards and Strtema of recoMntsj tice have been folkywed subj'ect to any rnaterial departu5 dtsdtssed and exrAainal in the Trnancial Statements,. epare the nanUal st&ts cffj the c(YKem ba5 unkn it 45 to weswme that the Trnst wlll conb.nue in latiOn. select surtaÈ4e Counting rx)l(ies arKI then then consistenty,. The Tnjstees are $[K¥ILle for keeF4'TrJ aCc1nn9 r$ that di9JTh with %late acajracy at any time finanoal ptK)n of the Trust aThJ enable thern to ensure that the Staternents ccrfnr wjth the [thdrS Act 2011 and the of the trust de&J. They are also reS$ble for sknjuarding the ass£ts d ttT and hen for trkwvJ reaDable steps for the preventson clftaud and crtlr irregvlari
THE GRACEWELL FosfER TRusr TRUSTEES, REPORT (continued) YEAR ENDED 31 JANUARY 2024 DISCLOSURE OF INFORMATION TO THE AUDrroRS We, the Trustees (* the Trust WIM) hekl at the (late of ar4¥0val of these Rnan<ial stmlts as set out above, eath conflm, far as we are aware. th&: there is no reknnt audfc infornthn rf whth Trusys audito are un&Hare'. and we have raken all steps that we ought to have tak as trustees ill onier to make ourselves aware of any relevant awjit inforMan and to &E4Lsh that the Tnst's aud are aware of that informatk)n. AUDITORS A resolution prDtKJ9ng that Thomas and YOU Limit8J a5 auditor5 of the Tntst te wt to the Annual Genernl Meeting. Approved by the Trustees arKI on their tehalf. Date:
THE GRACEWELL FosfER TRusr INDEPENDENT AUDITORS, REPORT TO THE TRusfEES YEAR ENDED 31 JANUARY 2024 We have auded the finandal siatements of The Fortw TnL¢ for year end&1 31 JanUV 2024, whlth comprise the Statement of Flnanaal Acbwtss, the BaJarKe Sheetand [est0 the finan(ial gaterTEnts. IudIng a 5urnrTrary of slgnifjcant accounting tKJliaes. The finaKial reFxJrbng framtwork that ha5 in their pwrabon is applKat law and UnItj Kitwbtn Accounting Stsndards, indudtn9 FIFncial ReF¥)rtin9 Stsndard 102 Tr financA¥IRewthFgStsndwrdappkable uKandReWOfIr7fid {United P£countsrKJ P[KlI). Thls report is made soldy to the chariWs bvstees, as a in aca)rthnce wtth Part 4 of the Chartses {Accounts aftd Reports) Regulations 2C%)8. Our audit work has been undertaken w that we rnvJht state to the drI$ trustees those matters we are required to slate to them in an auditorfs report and for no (thr puvpose. To the fullest extent pemitted ty law, we do not accept or assvrne res¥.1 to anyone other than the charity and the charivs trustee5 as a W, for our audr£ wor, for this reFOrt, or for the opn)ns we have fcffid. In our tke fjnarK411 sratsments: gNe a true arKI f"r vith¥ of the state Lrf the chaiitys affai as at 31 January 2024, and of its irKoming rex)ur and apF4Kion of re9)u, for the year then ended: have teen prepared in KCOrdan with ofthe OwitsÈ% 2011. 8ug for opinion We conducted our audfc in COrdanCe with Int£rnatbJnal gandard5 on Auditing (UK) {ISA% IUKJI arml applKatAe Liw. Our resFoTrslbilths under those standards are fijrther the Audrtorfs resEwstds for the audit of the financial statsments 5rftion of our rety)rL We a of the drity ill CordanCe with the ethical requIrents that are relevant to our aud¢t of the finanoal statements In the UK, induthng the FRCS Ethical Standard, we have fulfilled our other ethical reSp)nsit¥leS In accordarKe with these requIreWEn We LEIEbE thatthe aUt evKIen have obtsined is sufftient and approwlote to a ba51s for Ir OFin•x. We have nothing to reikvt in reyrt of ts foknyw tr> the Lsis {UK} require us to rert to you where.. the trnSW' u cwcem basls cl In the pEparntkn of the finandal statements Is not approprkte," or the trust have notdsed In the financial Yatements any 1dVAtI Materi uncertaintses that may cast signfflcant doubt aix)ut the chariVs ablity to continue to a(hrt the going concern ba515 of acLDuntrng for a perirA4 of at least twel¥e months from datr wln the finan(ial statyffnts are aulhori$ iswe. other infornialion The truths are reswnsibleforthe other inforrnèti. The cthr infomth compiwthe inforrnatTh sn the trustee annual re)rt, other than the finaJaI Staterne and wr JuLtitorfs rep)rt reOn. l)Jr OFinh)Th on the finanaal statements does not cover the ottr inf0mtiOn and, exw to the extent otherwiqe eXtty in our rem we do express any In connertion with our audit of finandal state[T[, our reStlitY is tD real the (ther informatth and, in (k)ing so, consider whethw the other inf0ml)n is matetialty lnccrfnt WTth the fknarl siaternents or our knowledge obtsined in the audr( or otherwise aFfe3rs to be matenamy misstated. If we kyenlify 9Jch nMter¥31 inconsfytenaes or apparent material mistements, are required to ¢knrmine whether thwe is a material rnssiatet in the financial slaterrEnts or a materlal rnisaterrent of the other infonnatKJn. If, bad on the vrtjrk we have kthrrrd. we condv( that there is a material We hfft rK)thlng to repJt in regaftl.
THE GRACEWELL FOSfER TRusr INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES (continued) YEAR ENDED 31 JANUARY 2024 Matters on vthlth we are requlred to report lry ex(eOknn We have nothing to repK¥t in rtst rf the f(4knfi9 matttss in to whlch the (hrftyes (A(counts and RepThts) ReguLaUons 2008 wuhE US to reFXt to you , fin our opin¥)n: the information gwi in the financiJ ststemwts i8 incorsEiEnt in any mattyd Fect wlth the trustees, ur suffKEnt accounting have not LEen W; Cf the financh31 Statennts are not in )Jreemt wrth the cnting rd5. we have Ted all the Informat and exTlanthns ¥ rujuire for our audL Responsibilities of trustees As eXained more in the truee< respMsfjt41fdes statewt t out on page 4. the trustees are re5F(Jnsitfe for the preparatk)n of finar¥ial siatements whKh gNe a tn and fair viert. and f¢x Interr ntr( a5 the trust&s determine is necessary to enabk the prepaRUon of finala1 statements that we free fmm Mateal nsStaL whethw due to fraud or eThor. In prepan9 the financial statements, the trusts& reS[tys for asEthg the atrA14ry to contintse as a going concern, disdosing, as applicabk, matters k)ted to gcrfng conrn and usirvj the going corttm basis of Kcounts"n9 unth the trustees either intend to Iwwidate the charity or to cease OFeratw)ns, have realwc aty¥e tt to th) so. We have teen apwinbj as auditor under s&lrA) 144rftheCharitiesALt 2011 and repyxt in acc&nWh rWJuknns made under sectron IS4 of that Our obj'ectives are to obtsin reasonab aTall vthdherthe ftMncJal statements as a whole are free frorn material mlsstatement, whether due to fra1 or error, to ie an auditorfs rerKrt that indudes our opIn)n. Reasonable assurantr is a hwjh Ve1 cl 3sgjran, Imrt i% nrt a guarantee that an audt DdUctl in ar£Oran wth t&4s IUKI will ahyays deteLt a material misststemert when it £. Misstateffnts can a175e from fraud or error and are consKlered materfal , indwually or in the agjregate, they c(MJk1 reasc¥)ai i to 1Trfln the &onomK deLisions of user5 tsken on the bas of these financiaj datements. As part of an audrt in accordan wth ISAS (UK). we exerclse of11 J1ent and maintain prof0al wptsosm throughout the audlL We al.. Identi and assess the risks cl materkl rThS51 Lrf the finaNia statements, wlthr due to frnud or error, dwn and Ferform audr( predre5 rs to tfv)se risks. and oLain audit even that is sUfnt and appropriate ttj provide a ba%s for our opn)n. The risk (rf rK dthb"ThJ a matenal msstatement re9Jig frotn fraud hMJher than for one resulUn9 from error, as frawj may inth colush)n, f1 intentional onMssThTr5s fTm5rewIationS, or the overrfdE of intemal contrcA. ottsin an undersiandiThJ of internal contrd reknnt to the audti in order to dwn audrt w0ur$ that are appropriate In the or0Jmstsn, Lxrt [t forthe purFK)se of ex¥2%51 an OP1 on the effne$S of the thativs intemal coThtrcl. dkI9JreS made ty the trtsstees. Condvde on the atwprkitene5s of the trusteeg use of the wr4J ccThn basis of aCCth9 d, based on the audlt evhjence otrtalned, Whetrr a material uncertsinty e¥Js relatvj to Lnts or CLwditions that rnty Ix swJnthont doubt on the charivs atxlity to continue as a w.ng corThn. If we that a material uncertsinty 0Sts, we are required ro drnw attenty.on in our auditorfs repyt to the rekted in the finamal statements or, rf such disdosure5 are Inadequate, to mc4J6fy our o>xnK)n. Our ILXKJUsS a Ihised on the au(tit e¥¥kn oithn&l up to the date cl our alld0S rerhyL Hve, f{jre e•tnts c c111)n$ may (ause the tharity to lease to contiftue as a going tttem.
THE GRACEWELL FosfER TRusr INDEPENDENT AuDORs. REPORT TO THE TRUSTEES (ntinued) YEAR ENDED 31 JANUARY 2024 Evaluate the overnll w¥entakn. stnmlu C(tent ofthe finala1 statements. ir11J the dixa05ure5, and whether the finaal thtements reprff the transalKxts aThi evats in a ManIr that athieves fair presentstion. We uJmmunKate with th wtth g)vernae refy3rding. atrthj cther matter5, the allnl xxwe and timing of the audit and signiknnt audit findirwJs, ilKIj[WJ ary signiftsnt ni intemal contrd that identify during our audit. Thomas & Young Limited ststutory Audltor Carfeton House 266-268 Stratford Road Shirfey ihull We* MwJlaThJs Date:
THE GRACEWELL FosfER TRUST srATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 JANUARY 2024 statsment of Finandal Artrviknes Totsl Total Funds Funds 2024 2023 Income and endowments from: Donations and legaae5 2,8j Investment income 4,921 Income from Cthartst4e actiwties 380.979 23,778 404,757 357,737 Total Income and endowments 391.023 23,778 414,801 365,458 Expendlthre on: Cthartsble activths 227.578 134,449 28,509 390,536 344,803 Totsl expenditwe 227,578 134.449 28,509 390,536 344,803 Net Inme/(expenltrJre) before 9alns on investm•nts 163.445 (134.449) (4,731) 24,265 20,655 Net gainl(loss) on Investr 43.635 {2,57l) 43,972 13,191) Nèt incomel(expendire) 163.44S (gJ,814) (7,302) 68,237 17,464 Tran*rs Funts (145,593) 145.593 Net movtmeAt of funds Recondllation of funds Total funds at 31)anuary 2023 17.852 54.779 {7,302) 68.237 17,464 417,891 33,481 788547 354,479 1,594,398 1.576,934 Total funds ot 31 January 2024 435,743 843,326 347,177 1.661635 1.594,398
THE GRACEWELL FOStER TRusr BALANCE SHEET AS AT 31 JANUARY 2024 2024 2023 Fixed as£Éts Tangle Fixed Assets Investments at Market Val io li 836.867 1,115,977 874.634 1,072,005 1,952,844 1,946,639 Debiors Cash at bank and In hand 12 14,579 241,870 8,470 200,721 256.449 209.191 Creditors unts falling due wthln (me year 13 (80,815) 170.570) Net Current As*ts 175,634 138,621 Total Assets Less Current Lfjat¥ls1i85 2.128,478 2,085,260 Arn¢wnts faIng due in more tPKin one Ir 14 (465,843) (490,8621 1,662,635 1,594,398 Funds Unrestrictrd fvnts neral fvnd tWnat& funds Restrirted fund5 EThJowment fvnds 15 15 15 15 435,743 843,326 36,389 347.177 417,891 788,547 33,481 354,479 1,662,635 1,594,398 oved by the E4)ard ofTnLrtees ........................ .....iand theT tehay ) TRUStEES The notes on pages 10 to 17 fonn Fort clthese trAmt
THE GRACEWELL FOSTER TRUST NOTE5 TO THE FINANCIAL sfATEMENTS YEAR ENDED 31 IANUARY 2024 ACCOUMllNG PoUCs Charity Infomiation The (kace¢I FosterTn& 15 a rgJlst&ed (tsity. The &Jdress of the regLred Offi [5 in the charity infonnation on page l of these fina531 stnl% The n¥JJre rA the chariV5 operatsons and "npaI actNtVe5 are detsil&l on page 2. 1.1 Accfjuntlng convention The charty Cs¢te5 3 pubNc tr£nefft entity as defined by FRS 102. The finonaal 5tsterTnts have been werared In accordan with AcCCnI1nQ aThJ Rerti) by Uribe$'. Staknent of ReiDmmended [ aable to tharities Eparing thr accounts in accorrIan with Ihe Fthal Rwrting Standard apptIe in the UK and RepuNic of Irdand In (Xtrter 2019, the FinanLial Rerx)rtirrfJ Standard ar$4atrIe in the Unrted ng(th and Republ of Irdand (FPS 1021, CharitEs Act 2011 and UK Atterthl A£countiThJ P. The financkil statemertts have teen wepy&J to gr¥e a and farf wie4Y and have (kparted frorn the Charities {Accounts and RepNtsI Regthth)Trs 2008 to the extent requir8J to tide a Irue and fair vteW. This departure has invofv8J fcAlowing the Ac(x)unts"r4J and ReIt"ng by Charrt]"es.' Statent of Recommended Prnctice applicable to charitses preparing their attwnts in accordance with the nan¢JaI &andard apICable in the UK and Repu of trdand issued in Ottoter 2019 rather than the PLciwnting and ReF(rfting bf (hwfties.. Statent of RecomnEnded Practke effeLtNe from I W"12CQ5 whkh has sirKe ythdVn. The ac[rtS are preparol whhth i% UJer. The Monetsry amounts in these statements are rwnded to the rarest É. The accwnts have trten wepared under the histwical cost conv10n. trj inchjde Certsin finan(ial insttuments at fair value. The fvpal Kcwnting rrfjliaes are set out teknAt:. 1.2 Going concern At the b.me of ak¥)roving the <counts. have a renat e¥rectstn that they have aqts3te re9)Ur to continue In ¢yrational existen for the fore5eeat4e fvbJ. Thus Ilw contwiue to athrt the wng toKem basis of acoiunlJrrfJ in wepartng the axount 1.3 Charitsble fund5 unr funds are avalabte for at the of UE tru5teas tn the fvrthernn oftheir charftable 0tiVes. Restritsj funds are requiwed to te Fthn8J urrtl the ytar 2028. tkskJrwted fvnds are set a9th to te used on wojeth and cbYJKal maWrtemae of the WOFeb"es at the dtscretion I the tws Endryinert fvFKls arE e[lale at the diyJekn ofthe tru¥ The purpJ5es u$ cl the furKls are set out in the to the )unt 1.4 Incoming resourcts Conthbuons from investm HKcne and th)n&M)ns aThl legs are tnj for in the perK)d in whith the charlty ig entided tts E¥Fenditure os acctyjnted fton an Kcrua15 Ik75is gross of VAT. Surnrt CC6ts costs dlr<y attn"butaè4e trj the Ing and admInt of the charitable ther costs are those (y)&s atrdtMrtat4e to caryng out the Charittib actsvitie5. w?re c05t5 canThJt be (lil attribjth to ether ¢rf these tvffj 9)u, 90% of the cos are alkKataJ to servre aThJ IO% to management costs. io-
THE GRACEWELL FOSTER TRvsr NOTES TO THE FINANCIAL sfATEMEpifs (continued) YEAR ENDED 31 JANUARY 2024 ACCOUNTIPIG POUCIES (continued) 1.6 Tangible fixed asstts Tan9lk4e fved assets are ted & cost ac(wmuk]t8J thprryjotK aThJ KOJSTwlatgJ impalmEnt l)55e5. Depreoation is provhled at raies o31oJLd to wte off the cc¢ kn rthl vdue. of asset on a Wemattc ]S over its expethd usdul lrfe as folk)ws: Houwng PmFth"es Fixtirres, rrttSngs & equi[¥Tt 2% strab3ht line 15% straight lire (fthires etr) and 33.33% StravJht line (comwter equlwlt) 1.7 n$bents Inve5trnents are reccgnis8J In6tlty at Fdir value whKh is tr trdnwtion pn exduding tsansathon costs. Subsequenty, they are nasured at fair value with changes wn4s&1 in 'Tret gaingllossesl on Investments, in the SOFA rf the shares are puUb tFaded or th"r v71ue can Othe Ee nwgJred reliably. 1.8 Grants rel¥ed Whert a grant (s to rethjce the cost of a IXOFety rt is shown as a dethKtion to ts co# the balan sheeL 1.9 Implimfit Assets not rneasured at fay value are rev1 any that the asset may te Impai Jt each balan she& dats. If such Indicat $ts, the artTh)unt of the a5seL or the 355eYs cash generdbng unit is mated and compared to the carr•j aTrnt Where the carryrng anKJunt exceeds the recoverable amoun¢ an mKkaimient Joss is recogn in wofft or h)ss vrLkn the asset 15 carrial forward at a revalued anKJunt vknere the Impalmient10$5 a revaluatson (rSe. 1.10 Cash and rash equi¥alqnts Cash and cash equivalents indude cash In hand, dewyts hekj at wlth banks, (thr short.temi investments and original maiurities of three n¥Jnths w kn. and bank obwdrafts. Bank ovefdrdfts a shown wrthin trM)rrowings in current Irabllth In the appIn of the Charitys aCcounj they a rewirul to make judgennts, esbmates and assumptions tut the carrying amount of lssets and liaimlities that are not reality apparent from other Sou. The ests"mates and as9xiated assumpth)I a baJ historKal ex[r Lknr factors that are Cons to te relevant. Actual resuts may dlyer frnm th¢fe estimate The estimat arnj undthiThJ asgjmpb.ons are ThlehEYJ on an ongolng basis. Revtsp)ns to accounting rnat¢S aJE recogntsed ifj the peri(xJ in whKth the esb.mate 15 r5ed where the re510Th aff&ts onty that perkKI, or in the (j of or in the Feri(>J of the ftthre wherè the revtsty)n current and fubjre Feriods. DONATIONS AND LEGACIES 2024 2023 Other IrKome from th)nat)nsakl Rswas£l.CKXI (2023: £2,KLI} ¢whh £nd (2023: £nit) wasattrityJtab to restri funds. li-
THE GRACEWELL FosfER TRusr NOTES TO THE FINANCIAL STATEMErifs (continued) YEAR ENDED 31 JANUARY 2024 INVEsfMENT INCOME 2024 2023 DivhJends- equilies Inte- frxed income securities InteSt- deFOSits 3,059 5,782 203 3,087 1.631 203 4,921 Inco from investrnents was £9,044 (2023: £4,921> of vthKti £9,044 (2023.. E4.921} wa5 attriLwtsLAe to unre5trirt funds. 2024 2023 Contn'bution from Resthnts: MaintenaKe (10n$ SeNKe charges.. - Home hdp service Heats"ng 262,991 5,093 65,819 9.314 670 23,778 4,685 56,926 8,942 415 23,778 Vsitors room l HOn9 Grart rdea*d 404,757 356,291 tncome from chaiitsble Ktiwbes was É404,7YI (2023.. £356,291) of whKh £W,979 (2023.. £332,513) was attributsbSe ts) unrestr furxjs and £23,77812022 £23,778) atthtMJtst4e b) the endOWlt fund. ANALYSIS OF EXPENDrnIRE ON (IIARITABLE ACllVlllE5 Support dirtty Trtal 288,813 101,723 390,536 £28,50912023.. £28,509) of the alThe cr£ts were attlable to en(knYment fvnds. £134,449 {2023.' £115,602) of the atx)ve costs were attritxjtsble to d&tynated funds. £227,578 {2023: 200,692) of the atr¥)ve costs were atth"butable to unrethcted funds. ALLOCATION OF SIJPPORT cosrs Totsl 30,917 15,332 37,767 15,89) 1,817 26,133 15,554 37,620 14,723 1.550 Ftnan (Jher IOL,723 95,580 12-
THE GRACEWELL FosfER TRusr NOTES TO THE FINANCIAL sfATEMEpif (contlnued) YEAR ENDED 31 JANUARY 2024 2024 2023 Aud(t Fee Legal and profeS&c fees EXeCuve Officerfs saknes and secretrrial setv Penson contributrons 6,900 23,573 744 20,739 744 30,917 28,383 COSTS OF AcrJvrTIES UNDERTAKEN DIRELy 2024 2023 Sae5 Cyclical rnairtenan EKtraordinary reparrs Garden maintenance Day to th malrtenan Yeating costs 45,790 63,252 38,682 20,752 32,514 59.904 13,094 3,095 4,724 41,010 56,574 34,587 19.899 24,442 44,066 7,596 4,069 4,287 8,168 Residents fund¥Jns arkl outmigs Professkjnal fees Alarm Wern MaIne 288,813 244,598 EMPLOYEES AND TRUSTEes 2024 2023 Wages and sa131ies gxial secynty cc6ts PensKJn cothbuuon 66,070 61,652 1,036 Totsl enX)mertts 67,107 62,493 ) empkw £eNed £).1 or The Trustees rThed no neratK duriTrJ the year12023: £nA}. £%nSeS amountsng to £1,925 was mjrSe to Tnth for tharatk e¥ws durf4vJ the year {2023'. £2,593). The aveRge numt*r of empbyees was 4 (2023.. 4). Cakulated an a fidl time t%3. anald funLtron. was: NUMBER NUMBER Dirett awritable Witure mane[entand Admkntstratb)n Charity AJI slaff are emptrd the Charity 13
THE GRACEWELL FosfER TRU5r NOTES TO THE FINANCIAL sfATEMENT (continued) YEAR ENDED 31 JANUARY 2024 10 TANGIBLE FIXED A55eTS Housin9 Properties rIng$ & Equipment Trtal Cost or valuation At 31 January 2011 1,776.411 169,299 1,945,710 Additlons Disposa At 31 January 2024 1,776.411 169,299 1.945,710 At 31 JarÈuary 2023 922,183 148,893 1.071,076 (arge for the year £preaOn on dwtyl 37,767 At 31 January 2024 950,692 158,151 1,108,843 Net book value At 31 January 2024 825,719 11.148 836,867 At 31 January 2023 854,228 20,406 874,634 Up to and Induding the yeaf en 23 January 2000. was the Tru5 FdKy to revakne certain ofthe freehohl Pro"e5. In the year ended january 2)1 the Trust the tran&tkn)al 15)nS of FRS15 Tangibk Fued Assets. Whllst Fyevious wdluatths have Lwi retslned have Utsted. From r (kn1 23 January 21 it is the Tru5Vs FK)Iry not to rewabJe ed as. The cost c<deweoat4e assets hehj wlth IlatIe a55ets aUnts to £1,425.434 (2023: £1.425,434}. The wowbes are valwj for OnwrnfKe pOseS at £12.451,) {2023: £10553.333). In the orlnbn of the TnJsts. 0[ rrket vakE c the with wnt tosseson, Is greatjy in excess of thr net Ik value. 11 INVEsfMENTS 2024 2023 Market value at 31 Jary 2023 1,072.IX)5 1,075,196 Net unreAlisal Investrn gainllhss) Market value a5 at 31]anuary 2024 43,972 (3,191) 1.115,977 1,072,005 HWJttal co* as at 31 Januwy 2024 168,435 168,435 UK li5tsJ Inve5bnents we reix¢wt8J Lyr. Investment and unlt tru 1,115,977 1,075,196 The anatysts cl investrnents W. i5 kn in note 15 ofthese xoyjnt 14-
THE GRACEWELL FosfER TRusr NOTES TO THE FINANCIAL STATEMEIIT (continued) YEAR ENDED 313ANUARY 2024 11 114VEsfMErirs (continu•d) Markat Value 2024 The folk)wlng in¥estrMt reprew5 than 5% L* the Portft1 valuatr)n: Acc Shares Charities official Investment fvnd Charishare Acc sha5 rcAJer InvestJnwt tharoty fund 2023 146,814 298.625 279,221 288.0% 145,375 274,764 270,873 278,110 unliSed gains at 31 January 2023 Net surpFus arising on re4aluat¥Jn5 fv the lod Unrealised gains at 31 January 2024 903,570 43,972 947,542 12 DEBTORS 2024 2023 4,545 10.034 611 7,859 14,579 8,470 13 CREDrroRS: Ai4ouKfs DUE wm1114 ONE YEAR 2024 2023 Other ts>2tion antl al s PensM)n contr"b)S Other creJ(tors and acauals etred grant incorne 317 56,720 23.778 299 46.493 23.778 80,815 70,570 14 CREDITORS: AMOUNTS DUE AFfER MORE 7HAN ONE YEAR 2024 2023 Loan rknnEd grant inmn 156,732 309,111 157,974 332,888 465,843 490,862 The loan whth ts SecUd on the tsde deeds ofthe dt at FostErfs is rq• by ha yeth nurt1& of £8,307, which r8Jeern the ban and intwest & 9¥4% annthh C 31 Marth 2050.
THE GRACEWELL FosfER TRusr NOTE5 TO THE FINANCIAL STATEMErif (continued) YEAR ENDED 31 JANUARY 2024 IS ANALYSIS OF HEf ASSEfS BETWEEN RINDS Fur Fund Fund Funds Tangible ftxed assets Investhnts Current knets Current liatitlitE5 Lon9 temi14?t•'litie5 11.148 825,719 836,867 66,832 1.115,977 150,EL)3) 256,ÈX9 {28.9281 {80,8151 (465,843) (465,843) 36JSY 1,012,756 (L69.430) 476.482 151.887) 438.743 36.389 843J26 347,177 1,665,635 16 FUNDS 31 JaNary IfrnIng (Wn9 R•¥aluatl( of 31)anuary 2024 UNREsTrIcfED FUNDS General fund 417.891 391,023 (227.5781 (145.5931 435,743 DESIGNATED FUNDS - Extrdordinary repairs reselve - CydKal malntsnaKe reSee . Routs"ne maintefiarKe ftswve 7Y/,305 (12.225) (75,938) (46.286) 38.682 63,252 43,659 43.635 827,397 17,218 (1,289) 788,547 (134,449) 145,593 43,635 843,326 REsfRtC7ED FUND Sink'ng hJThl 33,481 2,908 36,389 ENDOWMENf FUND 354.479 23.rn (28.5091 (2.571) 347,177 TOTAL 1,591,398 414,801 (.536) 43,972 1,E62,635 UnrtstrKW funds th) funds whkth the trustees are free to use dwritaNe obie£ts. Restrited funds- Sinkng FuTrJ. Tr sinkiJ fvnd rewewts the hokJlr¥J ( 147 accumuktbjn shaffjs In the (Thafittes Offioal Instrent Fund. Thf5 Ls wu1 to I 11 Mulatl untl the year 2028 to re[4 the capital value realis8J ty the sak of an orthard in 196B. Eraorfrnary repairs aThJ r" malntwwKe reseTrE. The charity CommissNJn sanctioned the establishment of the extraordlnary repalrs reserve in 1978. The has Iten or¢ the Jfftl retommended tytheAlmshouse Assodation and awoved ty the awiity Commiss)n. The En(%)wnnt Fund rewets the or¥Jind gft tD the awty by Arthur Henry Foster ar*J 9Jbsequent gts to fund ptsl wojects arising formatim. The Endrwment jnd is eyFendable at the discretion of the trustees. Fbwever, as (s maiTh lry the assets W for dwrtat4e u. there is no Intent of converting any of this fuftd into incorne. 16-
THE GRACEWELL FosfER TRUST NOTES TO THE FINANCIAL sfATEMEKf (continued) YEAR ENDED 313ANUARY 2024 17 HOUSING CORPORATION GRApir The H¢JJsing CorrK)ratksn Grant t5 repayaL4e unts tan or0jnL#ar Mari ftAhJYln9 the Sa of a WOFerty but will Th)rrna be rest1k trj net of s. 18 CAPITAL COMMrrMENrs Capikl ex[rlre conEr&ted for for the finaal statements, was £nil (2023: £NILI. 19 AUDITORS. ETHICAL STANDARDS In common with many nesSeS d our soe nath we use wr art to assst with the preparntion of the finanaal statements. CONTINGEMf LIABILITY The trustees have m•Je BinnInarll aty awdre cla r4kntial [werpant of hou&ng tefftfr0M the Counol. At the date of approval of the financial Stateftnts, it has nor tn rM7'ble to £onfimi either the anTh)unt of any tentsl OverFeYrntt or whether any hcwng ¥Yill to te repapj tD them. 17-