CHARITY REGISTRATION NUMBER: 233277 Edith Bessie Gibson Trust Unaudited financial statements 5 April 2025 Edith Bessie Gibson Trust Financial statements Year ended 5 April 2025 Page Trustées. annual raport Independent examiner's report to the Iruslees 10 statement of financial aclivilie5 Balance sheet 12 Notes to the financial statements 13 Edith Bessie Gibson Trust Trustees, annual report Year ended 5 April 2025 The trustees present their report and the unauditèd financial statements of the charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the a¢￿untIng policies set out in not8s to the accounts and cornply witr the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accoidance with Ihe Financial Reportin9 Stand8rd applicable in the UK and Republic ol l¥eland published in October 2019. Reference and admlnlstrative details R89istèrèd charity name Edith Bessie Gib50n Trust Charity registratlon number 233277 Prinelpal office Carmelite Monastèry Quidenham Norfolk NR16 2PH Th• trustees Thè trustees who served during the year and 81 the date of approval were as ltsllows.. S. E. Banks P. A. Martin N. J. Di Mino Edith Bessie Gibson Trust Trustees. annual report {¢onllnu¥dJ Year ended 5 April 2025 Banker$ HS8C 8 Cork Street London W1S 3LJ Investment Advisers Evelyn Partners 45 Gresham Street London EC2V 3LJ Solicitor5 Stone King LLP 3rd Floor Bateman House 82-88 Hills Road Cambridge C82 1LQ Surveyors Sarson & Co Limited The Limes Market Stregt East Harling Norwich NR16 2AD Independent examiner A Robinson FCA Lovewell Blake LLP Chartergd accountants First Floor Suite 2 Hillside Business Park Bury Sl Edmunds IP32 7EA Edith Bessie Gibson Trust Trustees. annual report Icontlnued) Year ended 5 April 2025 Objèetlvès and activitlès Alm and purposes The Edith Bessie Gib50n Trust was settled on 18 March 1947 by Edith Bessie Gibson Isister Elizabeth of the Trinity) for the purpose of the general advancement of the Roman Catholic religion. On 9 March 1949 the Trust acquired the eslale al Quidenham, and on 15 January 1965 the Settlor added a memorandum to the effect that'the funds shall first be used for the upkeep of the tllonastery at OLJidenham and the needs of the community there and secondly have special regard lo the Carmelite Ordèr., The Camielite Ordér, to whieh the community at Quidenham belongs, is recognised by the Roman Catholic Chureh as making valuable contribLJtion to tha life and work ol the wider Church through it5 witnes5 and apostolate. The income of the Trust IS 8pp118d for the maintenance and improvernent of the Quidenham Eslale, including ihe public chapel, and lo meet oth8r needs within the Carmelite Order and the Church as a whole. Objectives and activltles for the public benefit The Trustees are corntHitted to using the funds settled by Edith Bessie Gibson as effectively as possible in the service of the local community in and around Quidenham, the Carmelite Order. the universal Church, and people of any religion or none with whom the sisters at Quidenham may come into contact either directly or indirectly. The 515ters live a life of simplicity, silenca, work. and prayer, in the conviction that such a life has a profound effect on the world,. this conviGtion Is shared by tnany who have experienced its benefits. The sisters also engage in various forms of outreach. When planning the Trust's 6xp8nditure and the community's activities, Ihe Trustees and council sister5 have considered the Commission's guidan¢tr on publi¢ benefit and, ln particular, the specific guidance on charities for the advancement of religion. They have tried lo bring the support and consolatlon ol faith to as many people as possible through.. Worship and prayèr Provisitsn of laclllties and pastoral care Hospitality Outreach work Grants Ptsblie bènèflt In shaping our objectives for thè year and planning our activiiies, the Trustees have considered the Charity Commissions guidance on public benefit when setiing the tsbjectives for the year. The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011. Edith Bessie Gibson Trust Trustees. annual report (¢onllnygd) Year ended 5 April 2025 Achievements and performance Worship and pr8y¢r The sisters gather eight times a day in the public chapel, for the celebration of Mass and the Divine Office. 8y this means they are united with the universal prayer ol the Church, bearing witness to the primacy of God and diawing all who participate into a deeper relationship with Him. Prayer is the sislers, principal apostolate. Members of the public can and do make requests for prayers, either in person or by letter, telephone, e-mail, or through our website. No payrnenl is asked or expected and we receive many expressions of gratitude lor our support and thanksgiving for answers to prayer. Besides responding to specific requests, the eommunity biings all the need5 tsf the world before God, praying partiCLJlarfy for peace and for those in any kind of affliction or distress. The sisters also provide accommodation and support for a hermit called to a soliiary life of prayer. All are wèlcome to attend thè sarvicès in thè ehapel, and a regular worshipping community is establishèd around the monastèry, with 20 to 30 pèoplè attanding Sunday Mass and more at Christmas and Easter. Mernbers of the congr8galion are actively involved as readers. Euchariskn¢ ministers, altsr servers and so on. The congregation includes some children. for whom caleohesis and other activities are provided when necessary. The dio¢e5an newspaper Catholic East Anglia is provided free of charge lo parishioners and visitors. There is a notice board and ample space available for posters and information sheets concerning local church events, retreats, charities and similar. Provision olf3cilities and pastoral ¢3r The Trust makes a parish hall available to the wider worshipping community. It is used for refreshments after Mass on Sundays, and many other events take place there throughout the year. On Track Etltscalion SeNic&s Limited, a not-for-profit independent school for children with special nèèds moved into Swift Ho(Jse in Septèrnbèr, 2023. The location is provino beneficial for both staff and pupils. The trustees are pleased lo be able to help faGililale the piovision of specialist education which is in such demand locally. The chapel is available for baptisms, confirmations. the sacrament ol reconcsliation, marriages and funerals. 11 Is also open to any member of the public throtsghout the day for quiet contemplation. The chapel contain5 Stained glass windows by Margaret Rope, which the Trust is responsible for maintaining. Margaret Rope (Sister Margaret of ihe Mother ol Godl spent the latter part of her life as member of the Quidenham community. and her work at Quidenham and elsewhere is highly regarded and serves as an inspiratiL¥n for meditation. The Trust meets the costs ol providing a full-time resident priest, currently Father Stephen Blair. He makes the 5aciaments available to Ihe sisters and the wider communily, and may be called upon by anyone in eed of guidance or support. He visits the sick, and he or one ol the Eucharistic ministers takes Cotnmunion to members Of the ctrngregation who 8rb unable tr) attend Mass. Hospitality The Cam)elile community offer5 hospitality to guests. Two cottages are available. and rnany people avall themselves tsf these facilities. iaking advantage ol the tranquil atmosphere and the daily round ol prayer for 8 time of retreat or spiiitual refreshment. Guests may ask to speak lo the chaplain or one of the sisters if they wish. The sisters do not charge a set rate for accommodation, bul invite guests to leave a donation for the community according to thelr means,. sometimes this may be waived altogether. Edith Bessie Gibson Trust Trustees, annual report (¢ontlnuedJ Year ended 5 April 2025 Outreach work The sisters engage in various lorrns of outreach. One of the sisters currently servès as Prèsldent of the Associats'on of Carmels of Great Britain. Th8 President works to promote the charism and to help other monasteiies any kind ol need. A se¢ond sister of the community serves the Association in a t8chnical capacity, providing live streaming and recording for meetings and making talks available for all the rrembers of the Association. The sisters provade acwmmodatlon and refreshments for days ol recollection for Ghristl8n groups of any denominalion. and also lor quiet days for indivTduals. The parlours are made freely available for various other uses such as ¢alechesi5. Spiritual direction, and the sacratNÈnt of reconciliation. The sisters promote prayer, the study of scripture, and Camielite spirituality by hosting various kinds ol groups and giving talks. Priests and religious ministers lof various Christian denominations) from the diocese alld elsewhere m8ke use of the facilities for relroat ptrriods. Thus, space is provided for the spiritual refreshment of Ih05e dedicated to active ministry. Tha group ol Secular Carmelites based al Quidenham Gontinue to hold their iegular meetings and make use of thè rèception area, parlours and church. They attend parts of the Divine office as celebrated by the sisters. In addition, regional meetings lor the Secular Carmelites are held at Quidenham twicè a yaar. An ecumenical Advent carol service was held in early December, bulldlng on a tradition of tnany years standing. It is well attended by the local Community and visitors. The service features shared liturgy of the word and the choir of East Harling parish church Ichurch ol England) perform choice pieces of Advent worship material, together wth contributions from the sisters. On occasion, musical recitals are held, celebrating the high quality organ in the nuns. choir and the skills of the invited organist. In June, 2025, a group of 'organ enthusiasts. visited as part of their tour of notsble organs in the region. Opportunities are provided for women lo 'live alongside, the comrnunity OT to talk to a sister in the parlour. This is available free ol charge to those interested in discerning a vocation OT In need of some spiritual SUPPOrt. Some members of the community write book5 and articles. One of the sisters ha5 worked as a translator for thè Institute of Carmelite Studies in Washington D.C. There Is a selection of Christian books in the church porch. Several sisters a￿ engaged in writing articl8s foi a national joumal and a joumal of Carmelite spirilijality, linking their relleclions upon the life of faith to the reader's everyday ctsntexl. A Way of the Cross booklet of meditations, based on the stations in the church carved by Rosemary Fletcher, is available lor purchase by visitors to the church. In addition, a booklel about the stsined*lass windows the chapel and monastery has been produced. The sisters produce prayer cards, rèligious and secular greetings cards for Christmas, Easter and other occasions, notecards for everyd8y use and guided meditation and prayer leaflets. Al of these are widely sold by mail order and via the inl8rnet, as w811 as in the church porch. Even the seoular cards are not without spiritual significance, since many are designed to inspire contemplation of the beauty of creation. The c8rd5 Wlth religious themes promote knowledge of Christianity and provide texts suitable for meditation. The cards are used in schools, prisons. hospitals and retreat centres as well as being sold direct to the public. In addition, the sisters have designed cards with religious texts which are widèly used by hospital chaplains to oommemorale the blessing of unbaptised intsnts in case5 of stillbirth or neonatal death. These cards provide comfort for bèrèaved parents, and feedback from hospital chaplains has indicated that these are the only such card5 that are available. The sisters also produce ikons as devotional obj8cts, and make vestments, altar frontals. rosaries and other articles. Soaps and hand balm, scented with herbs and flowers from the monastery garden, can be purch858d, as can honey from the monastery bees when 8vailoble. Edith Bessie Gibson Trust Trustees. annual report (continued) Year ended 5 April 2025 The community's website Iwww.quidenhamcarmel.org.ukl promotes knowledge of the Carmelite way of lifè and the value of prayer and contemplation., il is also a means of 8dveriising the availability of guèst accommodation and the other goods and seNices provided. A Facebook page is maintain&d as well, offering information on activities, along with picturas, articlès, and meditations. The community website underwent exlensive updeling in early 2025, making it more user-friendly and attra¢tive. New features were added, e.g. a community news p8ge, and some of thè sisters shared their faith journey that led them to embrace Carmelile life. The online Quidenham Cards shop in particular benefitted from the redesign with a much mora coherent and simplified listing of produ¢ts that makes it easier for customers to use. Thè new website has been well received. For example, commènts from users have included appreciation for allowing them to see more of the Carmelite daily roubne and hence to gain a better understanding of thg importance of tho ministry of prayer. Thé community hosts occasional e¢umeni¢al events. A combined Advent Carol Service occurs in some years with a neighbouiing Anglican community. A crucffix in the public grtsunds forms a way station for th6 Christian pilgrimage route, the Via Beata. Grants Cash grants for individuals and institutlOn5 have been tnade in the course ol the year lo support theological and pastoral training and lo meet particular needs wthin the Carmelite Order and the wider Church. The Trust has a tradition of supporting the local dioc8se, and continu85 to ￿spond to the refugee crisis and other humanitarian Grises tackled by the Church. Charities that focus on supporting young people in their faith, such as Ten Ten Reso(Jrces and summer camps for those from deprived inner city parishes, have received funding from the Trust over several yéars. Dètails of grants are given in note 8 on page 19. The Trustees receive encouraging feedback concèrning thè usè of the grants and the value of the enterprises supptsrted. Property The Trustees have continued to tNaintain the property at Quidenharn. Norfolk. They employ a manager and a maintenaF)ce man. and plan repairs according to an ongoing schedule. The biomass district heating system, installed in the barn in 2010. and subsequently upgraded to take advantage of improved technology, has eliminated the use of oil entirely lor the church, main building and most of the other buildings on the estate. A new barn has been built on sile for the stor89tr of wood¢hip. The photovoltaic par)el systems continue to fuftction efficiently and contribute to lowering the Trust's 'C8rbon footprint,. Edith Bessie Gibson Trust Trustees. annual report (contlnued) Year ended 5 April 2025 Financial r•vl•w The Trust received £40,340 12024.. £44,474) in legades and donalions in the year. besides its regular income from rents and financial investments. giving a lolal incorne of £233,291 12024-. £226,353), compared with expenditure of £311,20812024'. £315.4121. This resulted in a nel deficit before investments of £77,917 12024.. £89,059). Net losses on investments amounted to £4,642 12024= gains of £102,180). As a result overall funds deGreas¢d marginally to £3,460.46612024'. £3,543,025). There are no restrictions on the charity's power to invest. The Tiustees set the investment strategy and investments are subject to ethical screening. The Trust8es Consider the income requirements, the risk profile, and the investment manager's view of the market prospects in the medium tem. The over811 objective is to maintain the endowment fund approximately at ils real value, while gènarating sufficient income to tlleet the needs of the Trust. This strategy is sel within an overall policy which states that the endowmgnl fund is lo be invested in low and medium risk investments with a view lo ensuring capital appreciation. The strategy is reviewed with the investment tnanagers on a regular basis. Fees paid to the investment advisers are shown in the a￿OUnt$. The portfolio has provided a totsl rèturn of 2.95¢h 12024.. 2.85P/¢l during the year. Reserves policy In addition lo the charitable grants made. the Trust has 8 continuing eommltment to maintain the extensive property owned by the Trust. including the public chapel. ￿ seeks to mèèt all these commitments from its unrestricted funds, and therefore needs to maintsin a reasonable level of r8s8rves. At 5 April 2025 the undesignated, unrestricted reserves amounted to £489.03912024.. £515.2921. Plans for future periods The Trust will coniinue to make its facilities available lo those who wish to visit for vaTiOUS reasons.. liturgic81 services, pilgrimages, talks, spiritual direclion, personal retreats, meetings and hospitality. Ongoin9 rr8intenan¢8 and repalrs to the estate properties continues in order to uphold the value of the Trust's valuable assgts. Effective land management remains in place to safe-guard the woodland, fields and gardens so highly valued by estate tenants. workers and the local community. The Trust intends to continue its active stewardship of the estate's natural resources by maintaining and improving, when&vèi possible, areas of woodland, hedg85. paslLJres and water featU￿s. The aim is to provide future shelter and food lor wildlife as part of our obligation to care for the land and all that lives here. The Trustees intend to continue all the activities of the Trust. Edith Bessie Gibson Trust Trustees, annual report (conlinuedl Year ended 5 April 2025 Structure, governance and management Organisatlort The Trust is a registered Charity Ino. 2332771 estsblished under Its constitution on 8 July 1964. The currenl trustees are a stated in the reference and adminislralive details to these accounts. The Trust8es rneet whenever necessary to consider grant applications and other rnatters arising. They also hold quarterty rneetings Wlth the monastèry council to discuss the charity's costs, strategies and any other relevant issues. Recruitment and appointment of Trustees The Trust Deed stipulates that the Trustees must be members of the Carmelite community at QLJidènham. They are appointed by the monastery council, and presently comprise two of the council sisters and one other sister with experience in matters relating to th8 Trust. Trustèe inductlon and training The Trustees have overall responsibility for pollcy and management. New Trustees and oounoil sist8rs are provided with background knowledge of the activities of the TTUSt and the responsibilities of Trustees, and have access to professional advice where necessary. Risk managem•nt The Trustees have examined the major strategic. business, and operation risks which the charity faces and confirm that systerns have been established to enable regular reports to be produced so Ihal thg necessary steps can be taken to lessen these risks. Risks associated with the property are kept under continual review in conjuncts'on with the Trust's manager 8nd surv8yors. In addition to systèms already in place, NFU Mutual Risk Management Services carried out a renewal of the lull health and safety audit in October 2023. including a general risk assessment, a fire risk assessrnent. and 8 COSHH (Control of Substances Hazardous to Health) assessment. A comprehensive Health and Safety Policy Slalernent was produced, and regular reviews are undertaken. Effective safeguarding 15 a priority lor the Trust. The Carmelite CDTnmunity has joined both the Catholic Safeguarding Standards Agency ICSSAI and the Religious Life Safeguarding Service IRLSSI, set up in th8 wake ol th8 Elliott Report120201. The sisters volunteered lor a pilot audit by the CSSA. This took place in July 2023, and the cornrnunity are in the process of implementing the resulting recommendations. They 8150 Wglcomed three tnembers of RLSS in May 2024, to help the RLSS to undersland the lif8 of conlgrnplative nuns $0 that they will be able to devise SLJitable training courses for contemplative commiJniti¢s. Certain sisters attended safeguarding workshops and conferencès during 2024 and 2025. First, those who offer spiritual direction to visitors or have contact with guesls attended an online course. Second, those who are involvèd in earè of the elderly and care of those discerning their vocation lo the religious life attended, in person. a one day workshop. Further, a course concerning safeguarding issues linked to use ol the intemet and social media was alsr) attended. All of these course were run by the accredited Rèligious Life Safe-guarding S8ryice. Edith Bessie Gibson Trust Trustees. annual report(￿ntinued) Year ended 5 April 2025 True and falr overrlde The financial st8tements hav& boen prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulalions 2008 only lo th9 extent required to provide a 'true andf8ir view,. This depariure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charitie5.' Staternenl ol Recommended Practice effective from 1 April 2005 which has since been wthdrawn. Independent examlner reappolntment A rasolulion to appoint A Robinson FCA of Lovewell Blake LLP as independent examiner will be proposed al the next Annu81 General Meeting. The trustees, annual report was approved on trustees by.. Oslol li(￿5 and signed on behalf of the board of S. E. Banks TrustèÈ A,VLI9 P. A. Martin Trustee -f N. J. Di Mino TrLJSteÉ Edith Bessie Gibson Trust Independent examiner's report to the trustees of Edith Bessie Gibson Trust Year ended 5 April 2025 I report ￿ the charity trustees on My exarnination of the financial statements of the charity lor the year ended S April 2025 which comprise the slalemenl of financial activities, balance sheet and the ￿lated notes. Responslbilities and basis of report As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements ol the Charities Act 20111.the Acl'l. l ￿port in respect ol my examination of thè charity's financial statements carried out under section 145 01 the Act and in carrying out my exarnination I have followed all the appllcable Directions given by th8 Charity Cotnmission under section 14515llbl of the Act. Independent examin8r's statement I have completed rny examination. I confirm that no material matters have come lo my attention in connection with the examination giving me caus8 to b8liÈv6 that in any malerial 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 wrfth those records., or the financial statements do not comply with the applicable ￿quIrernents concerning the form and content of accounts sel out in the Charitie5 IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf vi&w which is not a matter considered as part of an independent examination. I have no concerns and have come across rio other matters in connection with the exarnin8tion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Your attention is drawn to the fact that the Charity has prepared the 8ccounts If5n3ncial statementsl in accordance wilh Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applieable in the UK and Republic ol Ireland IFRS 1021 in preference to th8 Accounting and Reporting by Charitlgs.. Ststernenl of ReGomtnended Practice issued on l April 2005 which is r8f8rr&d to in the extant regulations but has since been withdrawn. l understand that thi8 ha5 been done in order lor the accounts to provide a truè and fair view in accordance with the Generally Accepled Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 74¢oètAqSG A Robinson FCA Independent Examinèr Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillsid6 Business Park Bury St Edmunds IP32 7EA 10 Edith Bessie Gibson Trust Statement of financial activities Year ended 5 April 2025 2025 Unrestricted Endowment funds funds Total funds 2024 Total funds Note Income and endowments Donations and legacies Charitable activities Investment incotne Other income 40.340 78.874 70,229 43,848 40.340 78.874 70.229 43,848 44.474 68,315 66,266 47,298 Total income 233.291 233,291 226,353 Expenditure Raising funds Investment management costs Charitable activities 22.739 22,739 288,469 16.803 298,609 288,469 Total expenditure 288,469 22,739 311,208 315,412 Net lexpenditureifincorne and net movements in funds before gains and losses on investments 155,1781 122.7391 177,9171 189.0591 Net Ilossesllgains on investments 11701 14,4721 14,6421 102,180 Nèt1oxp•ndlturollincome and n•t movèmènt In funds 155,3481 127,2111 182,5591 13,121 Reconciliation of funds Total funds brought forward Total funds carried fonward 704.414 2,838,611 3,543,025 3,529,904 649,066 2,811,400 3,460,466 3,543,025 The statemenl ot financial activities includes all gains and losses iecognised in the year. All incorne and expenditure derive from continuing activitie$. The notes on pages 13 10 23 form part of thèse financial Statements. 11 Edith Bessie Gibson Trust Balance sheet 5 April 2025 2025 2024 Nol• Fixed assèts Tangible fixed assets Investments 13 14 1,057,341 2,304,335 1.096,470 2,326.582 3.361,676 3,423,052 Current assets Debtors C85h 8t baThk and in hand 15 13,114 112,664 40,130 122.694 125,778 162,824 Creditors.. Amounts falling due within one year 126,9881 142,8511 Net CLtrrènt assèts 98,790 119,973 Total assets l•ss current Ilablllties 3,460,466 3,543,025 Net a5set8 3,460,466 3,543,025 Funds of thè charity Endowment funds Unrestricted fund5 2,811,400 649,066 2,838,611 704,414 Total charity funds 17 3,460,466 3.543.025 These financial statements were approved by the board of trustees and aulhorised for issue on and are signed on behalf of the board by.. S. E. Banks Truslee P. A. M8rtin Trustee N. J. Di Mino Trustee The notes on pages 13 to 23 form part of these financial statements. 12 Edith Bessie Gibson Trust Notes to the financial statements Year ended 5 April 2025 General Information The charity is a public benefit entity and a registered charity in England and Wales and 15 unincorporated. Th8 address of the principal office is Carmelite Monastery, Quidenham. Norwich, NR16 2PH. Statement of compllance The charity conslilutes a publiG benefit entity 8s defined by FRS 102. The financial sialements have been prepared in accordance with Acoounting and Repotting 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 issU8d in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Ch8rities Act 2011 and UK Gènerally Accepted Accounting Practice. Accountlng po15cies Basis of preparation The financial statements have b8en pr&p8r&d on th8 historical cost basis, as modified by the revaluation of certain financial assets and liabilities and invèstmènt properties measured at fair valuè through income or expenditure. The financial statements are prepared in slerlino, which is the functional currency of the entity. Goin9 concern The acctsunls have been prepared on the going concern b85is and the Tiustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the 8xpected income and expenditure lor Ihe next 12 months from authorising these financial si8temenls. The budg8t8d income and expenditure is sufficient with Ihe level of reserves for the charity lo be able to continue 8s a going concetn. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgem8nts, eslimales 8nd assumptions that affect the amounts reported. These estimates and judgements are continually rgviewed and are based on experience and other laclors, including expectations ol fulure events that are believed to be reasonable under the circumstances. The Trustees have considered that there are no critic81 accounting estimates or critical ai8as cif judgement to disclose within these financial stalemenls. Income tax As a re91Stered charity, the activities are exempt from United Kingdom Income and Corporation taxation. provided that the income is applied to charitable purposes. 13 Edith Bessie Gibson Trust Notes to the financial statements f¢onllnuedl Year ended 5 April 2025 Accounting policies (¢ontlnugd} Fund accountlng Unrestricted funds are available ft>r use at the discretion ol the trustees lo further any of the charity's purposes. DÈsignated funds are unrèstrictèd funds earmarked by the trustees for particular futur& pwje¢t or commitment. The perrnanent endowment fund represents funds that must be held permanently by the trust. The expendable endowment represents funds that rnust be spent in line ￿th purpose set out by the trriginal donor. Income All incoming resources are included in the slalemenl of financial activities when entitlement has passed to the chaTity," it is probable that the economic benefits associated with the Iran58clion will flow lo the charity and the amount can be rellably measured. The following specific polioies are applied to particular caleg0ri85 01 income.. income from donations or grants is recognised when there Is evldence ol entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when ieceipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this 15 impractical to rneasure reliably, in which case the value is derived from the Cost to the donor or the estimated resale value. Donated faci1Sties and services are recognised in the accounts when received il the value can be reliably measured. No amounts ale included for the contribution of general volunteers. income from contracts for the supply of services is rgcognised with the delivery of the contracted sèrvice. This is classified as unrestricted funds unle55 there is a contractual requirement for it to be spent tsn 8 particular purpose and rèturned if unspenl, in which case il may be regarded as restricted. Expènditur• Expenditure 15 recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovèred, and is Classified under headings ol the statement of financial activities tc* which il relate$'. expenditure on raising funds includ85 th8 Costs ol all fundraising activities. events, non