REGISTERED CHARITY NO 233120
THE JOHN GREGSON TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
THE JOHN GREGSON TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Contents | Contents | Page | |
|---|---|---|---|
| Legal and Administrative Information | 1 | ||
| 2 | |||
| 3 | |||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes forming part | of the Financial Statements | 6 |
THE JOHN GREGSON TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
TRUSTEES Michael Barber Catrin Davies Elisabeth Dyson-Jones (resigned 19 March 2022) Mark Facer (resigned 18 June 2021) Dorothy Hewerdine Helen Mason Justin Meggitt Derek McAuley (Chair) Mark Pearce Melanie Prideaux Andrew Shenton (resigned 22 September 2022) Ann Sinclair Joy Winder (deceased 24 November 2021) CHARITY NUMBER 233120 PRINCIPAL ADDRESS 26 Loxley Avenue Yardley Wod 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
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THE JOHN GREGSON TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report along with the financial statements of the Charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out on note 1 to the financial statements and comply with the Chari
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aring their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January
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| The trustees present their report along with the financial statements of the Charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out on note 1 to the financial statements and comply with the Chari aring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January |
The trustees present their report along with the financial statements of the Charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out on note 1 to the financial statements and comply with the Chari aring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January |
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| Reference and administrative details of the charity, its trustees and advisors | |
| Charity name: | The John Gregson Trust |
| Charity registration number: | 233120 |
| Trustees | Michael Barber |
| Catrin Davies | |
| Dorothy Hewerdine | |
| Helen Mason | |
| Justin Meggitt | |
| Derek McAuley | |
| Mark Pearce | |
| Melanie Prideaux | |
| Ann Sinclair | |
| 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 £21,750 (2021: £14,700) have been authorised during the year. Grants totaling £9,000 (2021: none) authorised in previous years but no longer required have been cancelled. At the yearend there were grants outstanding of £17,300 (2021: £22,200). 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.
Public benefit
grants subject to satisfactory application for funding within its charitable aims and objectives as explained above.
Trustees' responsibilities in relation to the financial statements
ty continues to provide w 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:
select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
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.
Approved by the trustees and signed on their behalf by:-
2022
Derek McAuley
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THE JOHN GREGSON TRUST
The John Gregson Trust
I report to the charity trustees on my examination of the accounts of the John Gregson Trust for the year ended 31 March 2022.
Responsibilities and basis of report
ents
arrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set
ir
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
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THE JOHN GREGSON TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note INCOMING RESOURCES Investment income Total incoming resources RESOURCES EXPENDED Cost of generating funds 3 Charitable activities 4 Administrative costs 5 Total resources expended NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR Gains/(losses) on investments 7 NET MOVEMENT IN FUNDS IN THE FINANCIAL YEAR TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
2022 £ 26,680 26,680 4,920 12,750 2,808 20,478 6,202 45,562 51,764 894,445 946,209 |
2021 £ 25,319 25,319 5,267 14,700 1,860 21,827 3,492 164,347 167,839 726,606 894,445 |
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The notes referred to above form part of these Financial Statements.
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THE JOHN GREGSON TRUST BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Investments 7 Current assets Debtors Cash at bank and in hand Current liabilities Amounts falling due within one year 8 Net current assets Net assets Represented by Unrestricted fund 9 Capital fund 9 |
2022 £ 949,068 949,068 13,925 3,373 17,298 (20,157) (2,859) 946,209 231,990 714,219 946,209 |
2021 £ 909,486 909,486 7,960 1,934 9,894 (24,935) (15,041) 894,445 225,788 668,657 894,445 |
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Approved by the Trustees on 19th November 2022 and signed on their behalf by: Derek McAuley Ann Sinclair Chair and Trustee Trustee
The notes referred to above form part of these Financial Statements.
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THE JOHN GREGSON TRUST NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1 PRINCIPAL ACCOUNTING POLICIES
(a) Accounting Convention
and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance periods commencing from 1 January 2019). 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.
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THE JOHN GREGSON TRUST NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2 RELATED PARTY TRANSACTIONS
None of the trustees were paid any remuneration by the Charity during the year (2021 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 £12,199 due from the Hibbert Trust (2021: £5,213). 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 £2,701 (2021: £1,860).
During the year the 7 trustees (2021: 3) were reimbursed expenses of £1,356 (2021:£142) to cover travel costs to meetings and small items of expenditure made on behalf of the Hibbert Trust. These amounts are included in the accounts of the Hibbert Trust.
3 COST OF GENERATING FUNDS
| 2022 £ 4,920 4,920 |
2021 £ 5,267 5,267 |
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| Management fees |
4 CHARITABLE ACTIVITIES
| Grants approved Grants cancelled |
2022 £ 21,750 (9,000) 12,750 |
2021 £ 14,700 - 14,700 |
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5 ADMINISTRATIVE COSTS
The Hibbert Trust provides administration services to the John Gregson Trust. This service cost £2,808 (2021: £1,860). Included in this amount is a proportion, £728 (2021:826) of the total Independent Examiner's fee of £2,460 (2021:£2,790)
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THE JOHN GREGSON TRUST NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6 ANALYSIS OF GRANTS a Grants awarded
| Grants awarded Altrincham Bridgwater Bridport Capel-y-Groes Cape Town Christchurch Ditchling Dover Dukinfield Gellionen Leicester Maidstone Newry Rochdale Rivington Southampton Grants from previous years not required Cape Town Sheffield Fulwood Wakefield Whitby Findhorn All grants are for maintenance of the fabric of places of worship. Fixed asset investments Market Value as at 1 April 2021 Acquisitions at cost Disposals Gain/(loss) on revaluation Market Value as at 31 March 2022 Cost as at 31 March 2022 Statement of gains and losses on investments Realised gain /(loss) on sale of investments Gain / (loss) on revaluation |
2022 £ 2,500 850 - - - 600 - - 600 600 5,000 3,000 5,000 250 1,350 2,000 21,750 2022 £ 1,000 500 5,000 1,500 1,000 9,000 2022 £ 909,486 92,836 (91,195) 37,941 949,068 748,569 2022 £ 7,621 37,941 45,562 |
2021 £ 2,500 - 600 2,000 1,000 - 5,000 3,000 - - - 600 - - - - 14,700 2021 £ - - - - - 2021 £ 736,849 32,150 (22,650) 163,137 909,486 729,616 2021 £ 1,210 163,137 164,347 |
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b Grants from previous years not required
7 Fixed asset investments
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THE JOHN GREGSON TRUST NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7 Fixed asset investments (continued)
Analysis of investments market value
| Fixed asset investment UK equity funds Overseas equity funds Multi-asset funds Property Alterative funds |
2022 £ 148,458 79,350 240,972 113,402 193,230 173,656 949,068 |
2021 £ 157,742 77,700 208,555 116,724 181,531 167,234 909,486 |
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8 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Grants approved but unpaid Other creditors and accruals |
2022 £ 17,300 2,857 20,157 |
2021 £ 22,200 2,735 24,935 |
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9 ACCUMULATED FUNDS
| Balance as at 1 April 2021 Movement on investments Surplus/(deficit) in year Balance as at 31 March 2022 |
£ Unrestricted fund 225,788 - 6,202 231,990 |
2022 £ Capital fund 668,657 45,562 - 714,219 |
£ Total 894,445 45,562 6,202 946,209 |
£ Unrestricted fund 67,708 154,588 3,492 225,788 |
2021 £ Capital fund 658,898 9,759 - 668,657 |
£ Total 726,606 164,347 3,492 894,445 |
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