REGISTERED CHARITY NO 233120
THE JOHN GREGSON TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
THE JOHN GREGSON TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Contents | Page |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees’ Report | 2 |
| Independent Examiner’s Report | 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 2023
TRUSTEES
TRUSTEES Michael Barber (resigned 26 April 2023) James Chiriyankandath (appointed 22 March 2023) Catrin Davies Dorothy Hewerdine Helen Mason Justin Meggitt Derek McAuley (Chair) Mark Pearce Melanie Prideaux Andrew Shenton (resigned 22 September 2022) Ann Sinclair CHARITY NUMBER 233120 PRINCIPAL ADDRESS 26 Loxley Avenue Yardley Wod Birmingham B14 4LG SECRETARY Nina Caddick INDEPENDENT EXAMINER S Daniels FCA Shaw Gibbs Limited 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 2023
Trustees’ Report
The trustees present their report along with the financial statements of the Charity for the year ended 31 March 2023. 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 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 | James Chiriyankandath |
| 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. This has enabled it to support a wide range of projects. Grants totalling £6,400 (2022: £21,750) have been authorised during the year. No grants (2022: £9,000) authorised in previous years but no longer required have been cancelled. At the year-end there were grants outstanding of £18,500 (2022: £17,300).
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 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: |
| • 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:-
D McAuley ………………………………..…. Trustee Dated: 27 Nov 2023 Derek McAuley
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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 John Gregson Trust for the year ended 31 March 2023.
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:
-
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
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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 264 Banbury Road Oxford OX2 7DY
Dated: ……………….
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THE JOHN GREGSON TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 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 |
2023 £ 30,811 30,811 5,871 6,400 2,797 15,068 15,743 (129,432) (113,689) 946,209 832,520 |
2022 £ 26,680 26,680 4,920 12,750 2,808 20,478 6,202 45,562 51,764 894,445 946,209 |
|---|---|---|
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 2023
| 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 Approved by the Trustees on and signed on their behalf by: Derek McAuley Ann Sinclair Chair and Trustee Trustee 27 Nov 2023 D McAuley Ann Sinclair |
2023 £ 809,631 809,631 36,739 5,880 42,619 (19,730) 22,889 832,520 215,999 616,521 832,520 |
2022 £ 949,068 949,068 13,925 3,373 17,298 (20,157) (2,859) 946,209 231,990 714,219 946,209 |
|---|---|---|
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 2023
1 PRINCIPAL ACCOUNTING POLICIES
(a) Accounting Convention
The accounts have been prepared in accordance with the Trust's governing document, 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)” (as amended for accounting 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.
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THE JOHN GREGSON TRUST NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2 RELATED PARTY TRANSACTIONS
None of the trustees were paid any remuneration by the Charity during the year (2022 – 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 £34,213 due from the Hibbert Trust (2022: £12,199). 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 £2,797 (2022: £2,808).
During the year the 3 trustees (2022: 7) were reimbursed expenses of £804 (2022:£1,356) 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
----- Start of picture text -----
2023 2022
£ £
Management fees 5,871 4,920
5,871 4,920
4 CHARITABLE ACTIVITIES
2023 2022
£ £
Grants approved 6,400 21,750
Grants cancelled - (9,000)
6,400 12,750
----- End of picture text -----
5 ADMINISTRATIVE COSTS
The Hibbert Trust provides administration services to the John Gregson Trust. This service cost £2,797 (2022: £2,808). Included in this amount is a proportion, £1,114 (2022:£728) of the total Independent Examiner's fee of £3,714 (2022:£2,460)
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THE JOHN GREGSON TRUST NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6 ANALYSIS OF GRANTS
| a Grants awarded Altrincham Brookfield Bridgwater Christchurch Dukinfield Fulwood Gellionen Leicester Maidstone Monton Newry Rochdale Rivington Southampton Urmston Whitby b 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. 7 Fixed asset investments Market Value as at 1 April 2022 Acquisitions at cost Disposals Gain/(loss) on revaluation Market Value as at 31 March 2023 Cost as at 31 March 2023 Statement of gains and losses on investments Realised gain /(loss) on sale of investments Gain / (loss) on revaluation |
2023 £ - 600 - - - 600 - 1,500 - 600 - - - - 600 2,500 6,400 2023 £ - - - - - - 2023 £ 949,068 - (7,765) (131,672) 809,631 740,806 2023 £ 2,240 (131,672) (129,432) |
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 |
|---|---|---|
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THE JOHN GREGSON TRUST NOTES ON AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7 Fixed asset investments (continued)
Analysis of investments market value
| Fixed asset investment UK equity funds Overseas equity funds Multi-asset funds Property Alternative funds |
2023 £ 131,289 77,000 236,270 95,297 115,186 154,589 809,631 |
2022 £ 148,458 79,350 240,972 113,402 193,230 173,656 949,068 |
|---|---|---|
- 8 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Grants approved but unpaid Other creditors and accruals |
2023 £ 18,500 1,230 19,730 |
2022 £ 17,300 2,857 20,157 |
|---|---|---|
9 ACCUMULATED FUNDS
| Balance as at 1 April 2022 Movement on investments Surplus/(deficit) in year Balance as at 31 March 2023 |
£ Unrestricted fund 231,990 (31,734) 15,743 215,999 |
2023 £ Capital fund 714,219 (97,698) - 616,521 |
£ Total 946,209 (129,432) 15,743 832,520 |
£ 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 |
|---|---|---|---|---|---|---|
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Issuer Shaw Gibbs Document generated Mon, 27th Nov 2023 8:31:40 UTC Document fingerprint 83454fa74c232de9827801ca26b63f14
Parties involved with this document
Document processed
Party + Fingerprint
Mon, 27th Nov 2023 9:55:26 UTC Mon, 27th Nov 2023 10:05:49 UTC
Derek McAuley - Signer (7e2f58637a3b63f8dd5d4a32fd2e49e0) Ann Sinclair - Signer (c0390cee03559534f724a0b01635dd90)
Audit history log
Date
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Mon, 27th Nov 2023 10:05:50 UTC Mon, 27th Nov 2023 10:05:49 UTC Mon, 27th Nov 2023 10:05:49 UTC Mon, 27th Nov 2023 10:03:20 UTC Mon, 27th Nov 2023 9:55:29 UTC Mon, 27th Nov 2023 9:55:27 UTC Mon, 27th Nov 2023 9:55:27 UTC
Mon, 27th Nov 2023 9:55:27 UTC Mon, 27th Nov 2023 9:54:43 UTC Mon, 27th Nov 2023 9:54:32 UTC Mon, 27th Nov 2023 8:42:49 UTC Mon, 27th Nov 2023 8:42:48 UTC
Mon, 27th Nov 2023 8:36:49 UTC Mon, 27th Nov 2023 8:36:49 UTC Mon, 27th Nov 2023 8:31:51 UTC
Mon, 27th Nov 2023 8:31:44 UTC Mon, 27th Nov 2023 8:31:40 UTC
Ann Sinclair viewed the envelope (81.147.134.152) This envelope has been signed by all parties (81.147.134.152) Ann Sinclair signed the envelope (81.147.134.152) Ann Sinclair viewed the envelope (81.147.134.152) Document emailed to annsinclair530@btinternet.com (13.40.129.172) Derek McAuley viewed the envelope (86.176.207.148) Sent the envelope to Ann Sinclair (annsinclair530@btinternet.com) for signing (86.176.207.148) Derek McAuley signed the envelope (86.176.207.148) Derek McAuley viewed the envelope (86.176.207.148) Derek McAuley opened the document email. (87.248.115.85) Document emailed to dmca123@aol.com (13.40.129.172) Sent the envelope to Derek McAuley (dmca123@aol.com) for signing (89.197.20.206) Ann Sinclair has been assigned to this envelope (89.197.20.206) Derek McAuley has been assigned to this envelope (89.197.20.206) Document generated with fingerprint 2f0058734c93c4d60d7e4c30651b28bd (89.197.20.206) Document generated with fingerprint 83454fa74c232de9827801ca26b63f14 (89.197.20.206) Envelope generated by Sue Whitthread (89.197.20.206)