OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

REGISTERED CHARITY NO 233120

THE JOHN GREGSON TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

THE JOHN GREGSON TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS PAGE
Legal and Administrative Information 1
Trustees’ Report 2 – 3
Independent Examiner’s Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes forming part of the Financial Statements 7 - 10

1

THE JOHN GREGSON TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES

Vivien Aylmer (resigned 29 July 2020) Michael Barber Catrin Davies Elisabeth Dyson-Jones Mark Facer (resigned 19 June 2021) Dorothy Hewerdine (chair to 19 June 2021) Helen Mason Justin Meggitt Derek McAuley (chair from 20 June 2021) Mark Pearce Melanie Prideaux Andrew Shenton Ann Sinclair Jeffrey Teagle (resigned 26 September 2020) Joy Winder CHARITY NUMBER 233120 PRINCIPAL ADDRESS 26 Loxley Avenue Yardley Wood Birmingham B14 4LG SECRETARY Nina Caddick INDEPENDENT EXAMINER S Daniels FCA Shaw Gibbs Limited Chartered Certified Accountants 264 Banbury Road Oxford OX2 7DY BANKERS CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ INVESTMENT MANAGERS Redmayne Bentley 8-10 Victoria Avenue Harrogate HG1 1ED

2

THE JOHN GREGSON TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT

The trustees present their report along with the financial statements of the Charity for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity’s trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”.

Reference and administrative details of the charity, its trustees and advisors

Charity name: The John Gregson Trust Charity registration number: 233120 Trustees and advisors: These are set out on page 1

Structure governance and management

The John Gregson Trust (which incorporates the John Gregson Fund and the Charles Booth Fund) is constituted as an unincorporated Charity under a trust deed dated 3 August 1956.

The declaration of trust states that the administration of the trust shall be undertaken by the Hibbert Trust and hence only trustees of the Hibbert Trust are eligible to be appointed as trustees of the John Gregson Trust.

Objects and activities

(i) The objects of the Trust are the promotion of corporate worship amongst those who profess Christianity in its most simple and intelligible form, including those churches which are on the Role of the General Assembly of Unitarian and Free Christian Churches. (ii) The Trustees shall have special regard for the maintenance of the fabric of places of worship within the sphere of (i) above which, in their opinion, are of historical and architectural importance.

Achievements and performance

The trust has received funding in the form of investment income from its investments which are managed by the Investment Managers in conjunction with the Unitarian Investment Panel. This has enabled it to support a wide range of projects. Grants totalling £14,700 (2020: £26,100) have been authorised during the year. At the year-end there were grants outstanding of £22,200 (2020: £20,000)

Reserves policy

It is the policy of the Charity to retain sufficient funds to meet future commitments. Grants are only paid from funds in hand. If insufficient suitable applications for grants are received, the surplus is invested for future income generation or retained for future grant making.

THE JOHN GREGSON TRUST

3

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2021

TRUSTEES’ REPORT (CONTINUED)

Public benefit

The charitable activities for the year are in accordance with the Charity Commission’s guidance on public benefit. The charity continues to provide grants subject to satisfactory application for funding within its charitable aims and objectives as explained above.

Trustees responsibilities in relation to the financial statements

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

A resolution to appoint S Daniels of Shaw Gibbs Ltd as independent examiner for the ensuing year will be proposed at the Annual General Meeting.

Approved by the trustees and signed on their behalf by:-

………………………………..…. Trustee Dated: ……………………. Derek McAuley

4

THE JOHN GREGSON TRUST

Independent Examiner’s Report to the trustees of

The John Gregson Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Samantha Daniels FCA for and on behalf of Shaw Gibbs Limited Chartered Certified Accountants 264 Banbury Road Oxford OX2 7DY

Dated: ……………………….

THE JOHN GREGSON TRUST

5

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 March 2021

note
INCOMING RESOURCES
Investment Income
Total Incoming Resources
RESOURCES EXPENDED
Costs of generating funds
3
Charitable Activities
4
Administrative Costs
Total Resources Expended
NET INCOMING / (OUTGOING) RESOURCES
FOR THE YEAR
Gains / (Losses) on Investment
6 &
8
NET MOVEMENT IN FUNDS IN THE FINANCIAL
YEAR
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD		 2021
2020
25,319
32,818
25,319
32,818
5,267
5,252
14,700
22,000
1,860
1,206
21,827
28,458
3,492
4,360
164,347
(54,390)
167,839
(50,030)
726,606
776,636
894,445
726,606

The notes referred to above form part of these Financial Statements.

6

THE JOHN GREGSON TRUST

BALANCE SHEET

AS AT 31 March 2021

note
s
FIXED ASSETS
Investments
6
CURRENT ASSETS
Debtors
Cash at Bank and in Hand
CURRENT LIABILITIES
Amounts due within one year
7
NET CURRENT ASSETS
NET ASSETS
REPRESENTED BY
Unrestricted Fund
8
Capital Fund
8		 2021
2020
909,486
736,849
7,960
2,693
1,934
14,966
9,894
17,659
24,935
27,902
(15,041)
(10,243)
894,445
726,606
225,788
67,708
668,657
658,898
894,445
726,606

Approved by the Trustees on …………………………. 2021 and signed on their behalf by:-

……………………………………………………. Chair and Trustee

Derek McAuley

……………………………………………………. Trustee Ann Sinclair

The notes referred to above form part of these Financial Statements.

THE JOHN GREGSON TRUST

7

NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2021

1 PRINCIPAL ACCOUNTING POLICIES

(a) Accounting Convention

The accounts have been prepared in accordance with the Trust's governing document, the Charities Act2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2020). The Trust is a Public Benefit Entity as defined by FRS 102.

(b) Investment Income

Investment income is accounted for in the period in which the Charity is entitled to receipt.

(c) Resources Expended

Expenditure is included on an accruals basis.

Direct payments are made voluntarily to institutions or to individuals.

The value of services provided by volunteers has not been included.

(d) Fixed Asset Investments

Fixed asset investments are included at mid-market value at the balance sheet date. All changes in value during the year, whether realised or unrealised, are reported in the Statement of Financial Activities.

(e) Taxation

The Charity does not trade for tax purposes and hence is not liable to Corporation Tax on its surplus.

(f) Fund Accounting

The Charity maintains a capital fund. The capital fund is established to protect the real value of the funds into the future and are not available for distribution.

An amount equal to the increase in value of investments in line with RPI is set aside from realised or unrealised gains in the year and credited to the capital fund. Any excess realised or unrealised gains are allocated to the unrestricted fund and are to be used in accordance with the charitable objects.

This is a change from the previous year where an additional 30% of any gains were allocated to the capital fund.

THE JOHN GREGSON TRUST

8

NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2021

2 RELATED PARTY TRANSACTIONS

None of the trustees were paid any remuneration by the Charity during the year (2020 – none).

For administrative purposes, all of the bank transactions of The John Gregson Trust are undertaken by the Hibbert Trust. This results in an amount due to or from the Hibbert Trust. That amount at the year-end is £5,213 due from the Hibbert Trust (2020: £5,646 due to the Hibbert Trust). All of the trustees of The John Gregson Trust are also trustees of the Hibbert Trust and vice versa.

Administrative costs of the Hibbert Trust are incurred in common with the John Gregson Trust. The Hibbert Trust charges an appropriate amount to the John Gregson Trust annually. The amount for the current year is £1,860 (2020: £1,206).

During the year the 3 trustees (2020: 14) were reimbursed expenses. These amounts are included in the accounts of The Hibbert Trust

3
COST OF GENERATING FUNDS
Management fees
4
CHARITABLE ACTIVITIES
Charitable grants approved
Charitable grants cancelled		 2021
2020
5,267
5,252
5,267
5,252
2021
2020
14,700
26,100
0
(4,100)
14,700
22,000

9

THE JOHN GREGSON TRUST

NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2021

5
ANALYSIS OF GRANTS
Altrincham
Bridport
Capel-y-Groes
Cape Town
Ditching
Dover
Maidstone
Total		 2,500
600
2,000
1,000
5,000
3,000
600
14,700

All grants are for maintenance of the fabric of places of worship.

6
FIXED ASSET INVESTMENTS
Market Value at 1 April 2020
Acquisitions at cost
Disposals
Gain / (loss) on revaluation
Market value at 31 March 2021
Cost as at 31 March 2021
Statement of Gains and Losses on Investments
Realised gain / (loss) on sale of investments
Gain / (loss) on revaluation		 2021
2020
736,849
802,264
32,150
119,488
(22,650)
(119,671)
163,137
(65,232)
909,486
736,849
729,616
716,910
2021
2020
1,210
10,842
163,137
(65,232)
164,347
(54,390)

THE JOHN GREGSON TRUST

10

NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2021

6
FIXED ASSET INVESTMENTS (continued)		 6
FIXED ASSET INVESTMENTS (continued)		 6
FIXED ASSET INVESTMENTS (continued)		 6
FIXED ASSET INVESTMENTS (continued)		 6
FIXED ASSET INVESTMENTS (continued)
Analysis of investments (market value) 2021 2020
Fixed interest 157,742 146,575
UK equity funds 77,700 84,450
Overseas equity funds 208,555 145,801
Multi-asset funds 116,724 95,620
Property 181,531 123,230
Alternative funds 167,234 141,173
909,486 736,849
7
CREDITORS: AMOUNTS DUE WITHIN ONE YEAR		 2021 2020
Grants approved but unpaid 22,200 20,000
Other creditors and accruals 2,735 7,902
24,935 27,902
8
ACCUMULATED FUNDS
2021 2020
Unrestric- Capital Total Unrestric- Capital Total
ted fund fund ted fund fund
Balance at
1 April 2020		 67,708 658,898 726,606 117,738 658,898 776,636
Movement
on 154,588 9,759 164,347 (54,390) (54,390)
investments
(Defcit)/
Surplus in		 3,492 3,492 4,360 4,360
year
Balance at
31 March 225,788 668,657 894,445 67,708 658,898 726,606
2021