(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 th￿r re￿rt and the a￿jited financial Statan￿ of the Trust for the year ￿ded 31 January 2024. The Trust￿% have ath)F*ed the Prov￿￿5 d the Stat￿t of ReIDmn￿th1 PrnctKe (SCrfIP) 'Nth)ulltkng and Rep￿Ing Cfvan￿e￿ Sn weparing the annual and fin￿Kki1 statements of the Tru The fin￿aal statements have been pyepared with ￿(￿nting ￿lKieS set out in notes to the accounts and comply wtth the charitfs &￿eM￿9 &xunw)t, the 0￿rrI]eS Art 2011 aThJ Accounting and RerAxting by Chartties.. Statertient of Rpmmrrended F*acb.￿ ap￿1¢*ble to charrt￿5 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 d￿nge of narne to The Gr￿Ve41 Fo&er Tru* was regi*ered with the Chaiity CommissK)ner ¢)n 20 Septernter 2012. The TrLLsi is a ￿Lster￿j Tru* no. 218796. and os rw1ai￿I iry a of the LTharty CommissK)ner5 sealed on 11 April 197B. The Tnjst is affi10ted to The Almsh￿j* As9xaaxm. TrUStEES The Trustees who served thjring and the ￿r end ag fdbws: Mr l Ma￿ha1 Miss D Mattson Mr E Rodgers Mrs N Pozzi Mrs M 3th￿es Ms L Fryer Mr A Holand {Chalmw- rewned 11 WI 2024) (ChaIrn￿n- 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 A￿d￿OIs. Thomas and Yourrtj Limi Cath House 266-268 Stratrord Ro&J shi1￿y 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 m￿t at feast six times ead) year when they congts overall thtegy, kmoperty and investmenl tnattu5, risk managen￿nt, finan￿5 and all rnatters rela¥ng to the ￿ent rnan&aement of the Tru￿ Varhjus s￿IN￿rnrttee5. 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 &tfvit*5. 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)da￿d in the Trusvs prO￿r0"eS. The CThalm)an and otherTru#ees the to med with the Ex￿jtTr￿ and the Scheme Managers to efisure that they are aware of the day to day actfvrfJ& of the TN The ¢JbJ'ect of ￿ Tn￿t is to pmvide Almsh￿ ￿[￿nc¥j￿￿ swvJle bJte5 ae ONEr the ￿e of 55 yeats arKI of 1Smiied fjnanoa5 nwns. There are 62 5ew-cL￿ts1rted h(wsry units in total, CLNnryi5ing 16 12 flats In category l and 34 flats {Foster5} in C￿e9￿ 2. In setting thar obJecb¥es, the Tru&ee5 haNe cOnShknati￿ to the Charity c￿￿mISSI)n'5 generdl advice on publ fft. TheTwst empby5 a fvll tme War&nlklvne Manw who, with the ald ofa r￿uty part-b"n* Wardenlscheme Manager and one other part.ume ernployee er*urts that the negts of the regdents are meL and a o)ngenial envfronment pmvkjed. The Trustabo employsa part4ime Executwe OffKer. MaIntenan￿c{the faLYicof the estre and gardens and grovnds is undertaken to a hÈ9h tsndard by intspendent contrth. The Tntsiees o)ns#Jer f￿￿nate in ha￿n9 such a dedicated team in charye of the day-trAay runnirtsJ of the homes and in the qual￿ ofthe suvres wowded ￿ th￿r contreKtors. TheTrust Ls pri￿lpHI￿ resourced Week￿ Maintenan￿ c£¥th"trtrt>Jnsfr0rn the reshkn￿ In ordwto finan￿ e￿rdinary palrs, routine maInt￿On￿ and rnantenaft￿ repays the Trust Irdnslers The Aknthcyjse ASs￿at￿)n'5 rtrcffimeThJed amounts into des￿jnated reserbEs. ACHIEVEMEKfs AND PERFOPMAHCE 7he Trust rnaintsins a reasonable W of Inkls. wlth kKwtyes mainty tEing wJ*J dunrKJ Feriods of refurlxshmwt or redecorntion folbwing a tenefKiary kawng home. It is the of the TriLtrs tha¢ when Ok￿r propaties are vacated, full refurtsshrneut takes p*e fv to beiFwJ ¢)¢￿PIed ty a ne￿ benefKiary. takes loryjer than a simple dKoration. The newer prok*rties are ¥eknrated and undergo a full r￿ul 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 gI￿ng charibes for The Trust￿ the rethts on a rwjular basis during the year to hdp • the T￿￿S objrn ofe￿ring their needs are Tnet and a congenial envtronment wovitst The Chawman an ann￿1 wth all the resderts to dl any COn￿M$ that they v the Trukn may h￿e. THE GRACEWELL FosfER TRUST TRusfEES' REPORT (continued) YEAR ENDED 31 JANUARY 2024 FINANCIAL REVIEW The Financial Strtetnents show a ￿r[AuS fortheyear, trEfO￿the r￿lUath)n ￿1Th*S￿nts. 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 inVestn￿ts 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 oi*KJatK)ns. IIIVEsfMENT POUCY It ts the wltcy ofthe Trustees to seek tD ach￿￿ a LdaKed return be￿￿n and caixtrl (Ner the knj term. The rnatket value ol in1￿ments 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 y￿k1 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 amc*Jnted 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 a￿nt to £435,743 whkth is lthe the tsrget I￿￿. PLAIIS FOR THE Fi￿uRE The Trust pFans to continue its of InwwThJ its F*cfeffjes o arKI Wh￿ the optKrftunlUes a￿e. The Trust also aims to ath￿ve as near 100% ￿CUpat￿1n d its woperties as p)S5th and mamtsin a waiting list of 5uiiatde candhlates. Various items of expendiiure are CO￿￿r￿J. or are r*cesw. for the 2024125 FUNDS HELD AS cusfoDIAN TRLisfEE The Trust does art as a Custc*Jian Tru*ee tswefore assets are he*J. RISK MANAGEMeNT The Trustees have examined the Strateg￿ and orvatsonal risks whKh the Trust f￿eS and confimi that systems have een estsblished to minimise these risks. The Trvstee5 rth these F￿0￿￿￿e$ regEkrty to ensure that tw stsll meet the Trusvs needs, TRUSTEES, RESPONSIBILrnES sfATEMEI The Trust£Es are ￿sponsible for preparir¥J the Tr￿￿ee< Annual Re[￿rt aThl the Fmancial Statements in a￿ordan0 wlth appI￿￿￿e law and Untsd KOng(kni A(nXJnt1￿ StsThJard5 (Unrted kng¢kni AC￿pted Puounting praL￿￿). The ap￿kable 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 recoMn￿tsj ￿tice have been folkywed subj'ect to any rnaterial departu￿5 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 ￿$[K¥￿ILle for keeF4'TrJ aCc￿1n￿n9 r￿$ that di9JTh with ￿%￿lat￿e acajracy at any time ￿ finanoal p￿tK)n of the Trust aThJ enable thern to ensure that the Staternents ccrfnr* wjth the [thdr￿S Act 2011 and the of the trust de&J. They are also reS￿￿$ble for sknjuarding the ass£ts d tt￿T￿￿ and hen￿ for trkwvJ rea￿Dable steps for the preventson clftaud and crtl*r irregvlari THE GRACEWELL FosfER TRusr TRUSTEES, REPORT (continued) YEAR ENDED 31 JANUARY 2024 DISCLOSURE OF INFORMATION TO THE AUDrroRS We, the Trustees (* the Trust WIM) hekl at the (late of ar4¥0val of these Rnan the Lsis {UK} require us to re￿rt to you where.. the trnSW' u* cwcem basls cl In the pEparntkn of the finandal statements Is not approprkte," or the trust￿ have notd￿sed In the financial Yatements any 1dVAtI￿ Materi￿ uncertaintses that may cast signfflcant doubt aix)ut the chariVs ablity to continue to a(hrt the going concern ba515 of acLDuntrng for a perirA4 of at least twel¥e months from datr wl*n the finan(ial statyffnts are aulhori$￿ iswe. other infornialion The truths are reswnsibleforthe other inforrnèti￿. The cthr infomth compiwthe inforrnatTh sn the trustee annual re￿)rt, other than the fina￿JaI Staterne￿ and wr JuLtitorfs rep)rt ￿reOn. l)Jr OFinh)Th on the finanaal statements does not cover the ott*r inf0m￿tiOn and, exw to the extent otherwiqe eX￿￿tty in our rem we do ￿ express any In connertion with our audit of finandal state[T*[￿, our reS￿￿t￿litY is tD real the (ther informatth and, in (k)ing so, consider whethw the other inf0m￿l￿)n is matetialty lnccrf￿*nt WTth the fknar￿l 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 mis*tements, ￿ are required to ¢knrmine whether thwe is a material rnssiate￿t in the financial slaterrEnts or a materlal rnis*aterrent of the other infonnatKJn. If, ba*d on the vrtjrk we have kthrrr￿d. 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 rts￿t rf the f(4kn￿fi9 matttss in to whlch the (hrftyes (A(counts and RepThts) ReguLaUons 2008 wuhE US to reF*Xt 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 Staten￿nts are not in )Jreem￿t wrth the ￿c￿nting r￿d5. we have T￿￿ed all the Informat￿ and exTlanthns ¥￿ rujuire for our audL Responsibilities of trustees As eX￿ained more in the tru*ee< respMsfjt41fdes statew￿t ￿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 fina￿la1 statements that we free fmm Mate￿al n￿sSta￿L whethw due to fraud or eThor. In prepa￿n9 the financial statements, the trusts& reS[ty￿s￿ for asEthg the atrA14ry to contintse as a going concern, disdosing, as applicabk, matters ￿k)ted to gcrfng con￿rn 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 a￿ty¥e t￿t to th) so. We have teen apwinbj as auditor under s&lrA) 144rftheCharitiesALt 2011 and repyxt in acc￿&n￿W￿h rWJukn￿ns made under sectron IS4 of that Our obj'ectives are to obtsin reasonab￿ a￿Tall￿ vthdherthe ftMncJal statements as a whole are free frorn material mlsstatement, whether due to fra￿1 or error, to i￿e an auditorfs rerKrt that indudes our opIn￿)n. Reasonable assurantr is a hwjh ￿Ve1 cl 3sgjran￿, Imrt i% nrt a guarantee that an audt D￿dUct￿l in ar£Or￿an￿ wth t&4s IUKI will ahyays deteLt a material misststemert when it £￿. Misstateff*nts can a175e from fraud or error and are consKlered materfal ￿, indwually or in the agjregate, they c(MJk1 reasc¥)ai* i* to 1Trfl￿n￿ 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 ￿of￿￿11 J￿1￿*￿ent and maintain prof￿0￿al 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( pr￿ed￿re5 r￿s￿ to tfv)se risks. and oL*ain audit ev￿￿en￿ that is sUf￿￿nt and appropriate ttj provide a ba%s for our opn*)n. The risk (rf rK* dthb"ThJ a matenal msstatement re9J￿ig frotn fraud ￿ hMJher than for one resulUn9 from error, as frawj may inth colush)n, f￿1 intentional onMssThTr5s fTm5rew￿IationS, or the overrfdE of intemal contrcA. ottsin an undersiandiThJ of internal contrd reknnt to the audti in order to dwn audrt w0￿ur￿$ that are appropriate In the or0Jmstsn￿, Lxrt [￿t forthe purFK)se of ex¥￿2%51￿ an OP￿￿1￿ on the eff￿￿ne$S of the thativs intemal coThtrcl. d￿kI9JreS made ty the trtsstees. Condvde on the atwprkitene5s of the trusteeg use of the wr4J cc￿Thn basis of aCC￿th9 ￿d, based on the audlt evhjence otrtalned, Whetr￿r a material uncertsinty e¥J*s relatvj to L*nts or CLwditions that rnty Ix* swJnthont doubt on the charivs atxlity to continue as a w.ng corThn. If we that a material uncertsinty 0￿Sts, we are required ro drnw attenty.on in our auditorfs repyt to the rekted in the finamal statements or, rf such disdosure5 are Inadequate, to mc4J6fy our o>xnK)n. Our ILXKJUs￿S a￿ Ihised on the au(tit e¥¥kn￿ oithn&l up to the date cl our alld￿0￿S rerhyL H￿ve￿, f{￿jre e•tnts c* c￿￿111)n$ may (ause the tharity to lease to contiftue as a going tt￿tem. THE GRACEWELL FosfER TRusr INDEPENDENT AuD￿ORs. REPORT TO THE TRUSTEES (￿ntinued) YEAR ENDED 31 JANUARY 2024 Evaluate the overnll w¥entakn. stnmlu￿ C(￿tent ofthe fina￿la1 statements. ir￿￿11￿J the dixa05ure5, and whether the fina￿al thtements reprff￿ the transalKxts aThi evats in a ManI￿r that athieves fair presentstion. We uJmmunKate with th￿ wtth g)verna￿e refy3rding. atrthj cther matter5, the ￿alln￿l xxwe and timing of the audit and signiknnt audit findirwJs, ilKI￿￿j[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 2,8￿j 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 In￿me/(expen￿ltrJre) 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(expendi￿re) 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 Tangl￿e 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 fa￿Ing due in more tPKin one I￿r 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 PoUC￿s Charity Infomiation The (kace¢￿I FosterTn& 15 a rgJlst&ed (tsity. The &Jdress of the regL*red Offi￿ [5 in the charity infonnation on page l of these fina￿531 st*￿n￿l% The n¥JJre rA the chariV5 operatsons and ￿"n￿paI actNtVe5 are detsil&l on page 2. 1.1 Accfjuntlng convention The charty C￿s￿¢t￿e5 3 pubNc tr£nefft entity as defined by FRS 102. The finonaal 5tsterT￿nts have been werared In accordan￿ with AcCC￿nI1nQ aThJ Re￿rti￿) by U￿ribe$'. Staknent of ReiDmmended [￿￿ a￿￿able to tharities Eparing th￿r accounts in accorrIan￿ with Ihe Ftha￿l Rwrting Standard app￿￿￿tIe in the UK and RepuNic of Irdand In (Xtrter 2019, the FinanLial Rerx)rtirrfJ Standard ar$4￿atrIe in the Unrted ￿ng(th and Republ￿ of Irdand (FPS 1021, CharitEs Act 2011 and UK Atterthl A£countiThJ P￿. The financkil statemertts have teen wepy&J to gr¥e a and farf wie4Y and have (kparted frorn the Charities {Accounts and RepNtsI Regthth)Trs 2008 to the extent requir8J to t￿￿ide a Irue and fair vteW. This departure has invofv8J fcAlowing the Ac(x)unts"r4J and Re￿It*"ng by Charrt]"es.' Stat￿ent of Recommended Prnctice applicable to charitses preparing their attwnts in accordance with the ￿nan¢JaI &andard ap￿ICable in the UK and Repu￿ of trdand issued in Ottoter 2019 rather than the PLciwnting and ReF(rfting b*f (hwfties.. State￿￿nt of RecomnEnded Practke effeLtNe from I W"12CQ5 whkh has sirKe y￿thd￿Vn. The ac￿￿[rtS are preparol whhth i% UJ￿er￿. The Monetsry amounts in these statements are rwnded to the r*arest É. The accwnts have trten wepared under the histwical cost conv￿￿10n. trj inchjde Certsin finan(ial insttuments at fair value. The fvpal Kcwnting rrfjliaes are set out teknAt:. 1.2 Going concern At the b.me of ak¥)roving the J of the ftthre wherè the revtsty)n current and fubjre Feriods. DONATIONS AND LEGACIES 2024 2023 Other IrKome from th)nat*)nsakl *Rswas£l.CKXI (2023: £2,KLI} ¢￿wh￿h £nd (2023: £nit) wasattrityJtab￿ to restri funds. li- THE GRACEWELL FosfER TRusr NOTES TO THE FINANCIAL STATEMErifs (continued) YEAR ENDED 31 JANUARY 2024 INVEsfMENT INCOME 2024 2023 DivhJends- equilies Inte￿- frxed income securities Int￿eSt- deFOSits 3,059 5,782 203 3,087 1.631 203 4,921 Inco￿￿ from investrnents was £9,044 (2023: £4,921> of vthKti £9,044 (2023.. E4.921} wa5 attriLwtsLAe to unre5trirt funds. 2024 2023 Contn'bution from Resthnts: MaintenaKe (￿￿￿10n$ 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 HO￿n9 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 endOW￿lt fund. ANALYSIS OF EXPENDrnIRE ON (IIARITABLE ACllVlllE5 Support dir￿tty Trtal 288,813 101,723 390,536 £28,50912023.. £28,509) of the alThe cr£ts were at￿t￿lable 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 EXeCu￿ve Officerfs saknes and secretrrial setv Penson contributrons 6,900 23,573 744 20,739 744 30,917 28,383 COSTS OF AcrJvrTIES UNDERTAKEN DIRE￿Ly 2024 2023 Sa￿￿e5 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 MaIn￿￿e 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 ￿m￿jrSe￿ to Tnth for thar*atk e¥w*s durf4vJ the year {2023'. £2,593). The aveRge numt*r of empbyees was 4 (2023.. 4). Cakulated an a fidl time t%3￿. anal￿d ￿ funLtron. was: NUMBER NUMBER Dirett awritable Witure man￿e[￿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 r￿Ing$ & 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 £*pre￿a￿On 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 Tru￿5 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 U￿tsted. From ￿r ￿(kn1 23 January 2￿1 it is the Tru5Vs FK)Iry not to rewabJe ￿ed as*. The cost c2tion 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 SecU￿d on the tsde deeds ofthe d￿t 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 Investh*nts 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 If*￿rnIng (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 reSe￿e . 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 sinki￿J fvnd rewewts the hokJlr¥J (* 147 accumuktbjn shaffjs In the (Thafittes Offioal In￿str￿ent Fund. Thf5 Ls wu1￿￿ to I￿ ￿1￿1 ￿Mulat￿l 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(%)wn*nt Fund rewe￿ts the or¥Jind gft tD the awty by Arthur Henry Foster ar*J 9Jbsequent g￿ts 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[￿r￿l￿re conEr&ted for for ￿ the fina￿al statements, was £nil (2023: £NILI. 19 AUDITORS. ETHICAL STANDARDS In common with many ￿*￿nesSeS d our soe nath we use wr a￿￿rt￿ to assst with the preparntion of the finanaal statements. CONTINGEMf LIABILITY The trustees have m•Je BinnIn￿arll aty awdre cla r4kntial [werpa￿nt of hou&ng t￿efftfr0M the Counol. At the date of approval of the* financial Stateft￿nts, it has nor t￿n r*M7'ble to £onfimi either the anTh)unt of any tentsl OverFeYrn￿tt or whether any hcwng ¥Yill to te repapj tD them. 17-