**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 1 **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 **----- Start of picture text -----**
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| |---|---| |**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** 2 **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: - accounting records were not kept in respect of the charity as required by section 130 of the Act; or - the financial statements do not accord with those records; or - 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 3 ## **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| |---|---|---| The notes referred to above form part of these Financial Statements. 4 **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| |---|---|---| 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. 5 **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. 6 **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| |---|---|---|---| |Management fees|||| ## **4 CHARITABLE ACTIVITIES** |Grants approved
Grants cancelled|**2022**
**£**
**21,750**
**(9,000)**
**12,750**|2021
£
14,700
-
14,700| |---|---|---| ## **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) 7 ## **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| |---|---|---| ## **b Grants from previous years not required** ## **7 Fixed asset investments** 8 **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| |---|---|---| ## **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| |---|---|---| ## **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| |---|---|---|---|---|---|---| 9