THE THOMAS GIBBINS CHARITY
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
for the year ended 31 December 2023
Registered Charity number.. 246451

THE THOMAS GIBBINS CHARITY
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS
Pages
Adminislralive information
Ttuslees, report including slalemenl of Trustees, responsibilities
Independent examiners. report
Slalemenl of financial activities
linduding summary of income & expenditure account)
Balance sheet
Notes lo the financial slalemenls
9-13

THE THOMAS G18BINS CHARITY
ADMINISTRATIVE INFORMATION
Trustees..
D S Jackson
J A Lomer
J Hipkiss
Registered office-.
Kingsnorth House
Blenheim Way
Birmingham
B44 8LS
88nkers-.
Virgin Money
136 - 138 New Street
Birmingham
B2 4QJ
Accountants..
Malcolm Piper & Company Limited
Kingsnorth House
Blenheim Way
Birmingham
B44 8LS
Investment managers".
Brewin Dolphin
12 Smilhfield Street
London
EC1A 98D
Registered Charity number:
246451
Enquiries
Mr D S Jackson
Clo Malcolm Piper & Company Limited
Kingsnorlh House
Blenheim Way
Birmingham
B44 8LS
Page 1

THE THOMAS GIBBINS CHARITY
TRUSTEES, REPORT
The Trustees present their report and the unaudited financial slalemenls for the year ended 31
December 2023 The Trustees have adopted the provisions of the Slalemenl of Recommended
Pracliee ISORPI"A¢counling and Reporting by Charities. IFRS 1021 in preparing the annual report and
financial statements of the Charity.
NATURE OF THE GOVERNING INSTRUMENT
The Trust Fund is registered as a Charity (registered Charity number 2464511 and was eslablished
under the provision contained in the codicil of the Will of Mr Thomas Gibbins. The Will was dated 9
March 1906 and the codicil 5 July 1907. This was incorF)oraled into 2 Trust Deed dated 10 February
1910 and amended by a Deed of Variation dated 21 April 1970 and further amended by a revised Trust
Deed dated 27 August 2008.
TRUSTEES
The Trustees who held office during the year were as follows..
D S Jackson
J A Lorner
J Hipkiss
As the Charity becomes aware of individuals with an interest in the Charity's activities. or where il is
perceived that a Trustee can cornplemenl the skills held by current Trustees, they pul In place 2 plan lo
train them.
PRINCIPAL ACTIVITY
The object of the Tnjsl Fund is lo apply the income of the Charity in furthering the following objects..
la) Providing pensions, grants and other benefits lo employees on Iheir retiring from the service of the
Company, or ils successor businesses, or on their becoming unable lo work.,
{b} Provision of nursing care or other medical assistan￿ lo employees suffering from ill health.. and
(cl Provisions of pensions, grants and other benefits for the assistance of the widows, children and
other dependents of deceased employees.
Funds held in the Permanent Fund are not available fof the payment of benefits.
Income from a8sels in the Permanent Fund is held for the general purposes of the Charity and is
therefore unrestricted.
PUBLIC BENEFIT
The Trustees confirm that they have referred lo the guidance contained in the Charity Commission's
general guidance on public benefit when reviewing the Charity's aims and objectives and in planning
future activities and selling the grant making policy for the year.
Page 2

THE THOMAS GIBBINS CHARITY
TRUSTEES. REPORT ICONTINUEDI
FINANCIAL REVIEW
The results for the year and financial position of the Charity are shown in the Slalement of Financial
Activities on page 7 and Balance Sheet on page 8.
The gross income of the Charity for the year ended 31 December 2023 amounted lo £56,467 {2022..
£92,220). Direct Charitable expenditure in the form of donations, grants and other benefits paid tolalled
£53.877 12022.. £64.8181 and adminislralive and management expenses nel lolalled £40,02612022..
£61,834). This resulted in a balance of nel expenditure of £37,436 12022.. £34,432} deducled from
reserves availeble for future dislribulion.
The unfortunate entry into adminislralion of our lenanl, T G Stamping and Machinery Limited on 22
March 2023 was a Significant event both for the Charity and the many workers who lost their jobs. All
former employees were assessed by the Charty for eligibility for additional assistance. This resulted in
9 additional recurring quarterly grants and one hardship payment being approved. Additionally, the
Charity has incurred significant addition81 expen(Jilure due lo Iheir investment properly becoming vacant
in the form of security costs. insurance. council lax and utility costs for the property in addition to the
lost rent and bad debt incurred on the rent unpaid al the point the company went into liquidation.
INVESTMENTS
The Trustees monitor investments through the appointment of an inveslmenl advisor and the returns
achieved on those investments against the agreed strategy.
The Trustees are aware of the continued economic uncertainty both in the UK, Europe and Worldwide.
The UK slipped into recession during the second half of 2023 and although this did not result in
signrficanl unemployment, il demonslraled the weakness of the e¢onorny. Continued high inflation
during 2023, was particularly acute in the UK and resulted in the continued higher than expected interest
rates as the Treasury looked lo reduce inflalion back lo ils 20kn target.
The stock market finished the yesr stronger than had been anlicipaled and this has resulted in a degree
of recovery from the falls in value of the investment portfolio experience in the prior year. During the
year under review, the investment portfolio saw nel realised and unrealised gains on investments
lolalling £62,80912022'. losses lolalling £160,737).
DONATIONS BENEFIT POLICY
All employees who, al the point of ils liquidation, had served a minimum of two years for T G Stamping
and Machining Limited or ils predecessors, can have periods of employment with related companies
included in their qualifying calculation of their grant benefit.
Page 3

THE THOMAS GIBBINS CHARITY
TRUSTEES, REPORT (CONTINUED)
RESERVES POLICY
Al 31 December 2023 the Charity held reserves, less investment assets and fixed assets, of £74.320
{2022.. £85,545). Both Investment assets and fixed assets are invested lo provide a future income for
the Trust and are therefore not considered lo be dislribulable assets. The reslricled funds, which are
all invested, form the Permanent Fund, which is not available for distribution under the terms of the
Trust Deed.
The annual expenditure for the year for the on-going activities was £118,16312022.' £87,990) including
the exceptional hardship paymenls made in the year. The cash reserves therefore represent
approximately 8 monlhs12022' 12 months) of annual expenditure.
Reserves are necessary because..
A subslanlial part of the income is derived from the distribution of dividends from investments
in the shares and funds held These dislribulions are variable and dependent upon the
economic climate. Addilionally, dislribulions are not received in equal or necessarily regular
amounts, resulting in periods of lime when no income is being received bul expenditure is still
incurred.
The investment property held requires, from lime lo lime, significant expenditure lo maintain ils
nlrinsi¢ value.
The investment property has periods when it is vacant, and the Trust has lo fully bear the costs
relating lo such property including council lax, security and utilities during these periods.
PLANS FOR FUTURE PERIODS
The Trustees intend lo continue with the provision of donations, grants and other benefits lo retired
employees. They intend lo review Ihese on an annual basis and re-consider the returns achieved from
investments.
The key uncertainty facing the Charity is the cost of maintaining the investment property without a
Tenant lo provide any income. The Trustees, have engaged professional advisors lo guide them on Ihe
vaTlOUS options available lo them including..
lelling all or part of the properly.
retaining the property unoccupied,
selling the property
demolishing the properly.
To assist a riew slarl-up business. which has been formed by some of the former employees, Ihe
Trustees have allowed them lo use part of the premises on an initial short-lerm renl-free basis.
Page 4

THE THOMAS GIBBINS CHARITY
TRUSTEES, REPORT {CONTINUED)
TRUSTEES. RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees, Report and financial statements in accordance
with applicable law and United Kingdorn accounting standards Iuniled Kingdom Generally Accepted
Accounting Praclicel.
The law applicable lo Charities in England and Wales law requires the Trustees lo prepare financial
statements for each financial year which give a true and fair view of the slate of affairs of the Charity
and of the incoming resources and application of the resources of the Charity for that year. In preparing
these financial ststemenls, the Trustees are required lo..
select suitable accounting policies and then apply them consislenly,.
observe the methods and principles in the Charities SORP IFRS 1021
tnake judgements and estimates that are reasonable and prudent.,
act in accordance with the rules of the Charity. the Charity Commission and the Trust Deed.,
slate whether applicable accounting standards have been followed, subject lo any material
departures discussed and explained in the financial stalemenls.,
prepare financial slalemenls on the going concern basis unless il is inappropriate lo presume
that the Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy al any lime the financial position of the Charity and enable them lo ensure that the financial
slalemenls comply Kith the Charities Act 2011, the Charib'es (Accounts and Reports) Regulations 2008
and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity
and herKe for taking reasonable sleps for the prevention arKI detection of fraud and other irregularities.
STATEMENT OF DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER
We, the Trustees of the Charity who held office at the dale of approval of these financial slalemenls, as sel
out above, each confirm so far as we are aware, that."
there is no relevant information of which the Charity's Independent Examiner is unaware., and
we have taken 811 the steps that we ought to have taken as Trustees in order lo make ourselves
aware of any relevant information and lo establish that the Charity's Independent Examiner is
aware of that Informal￿n.
Approved by the Trustees on 24 August 2024 and signed on ils behalf by:_
D S Jackson
Trustee
Page 5

REPORT OF THE INDEPENDENT EXAMINER
TO THE TRUSTEES OF
THE THOMAS GIBBINS CHARITY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE THOMAS GIBBINS
CHARITY
I report lo the Charity Trustees on my exarninalion of the accounts of the Charity for the year ended
31 December 2023, which are sel out on pages 7 10 13.
RESPONSIBILITIES AND BASIS OF THE REPORT
As the Charity's Trustees you are responsible for the preparation of the accounts in accordance with the
requirements of Ihe Charities Act 2011 I'lhe Acl'}.
I report in respect of my examination of the Charity's accounts carrie(f 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 14515llbl of the Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material mallers have come to my allenlion in
connection with the examinalion giving me cause lo 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
12)
the accounts do not accord with these records., or
{3}
the accounts do not comply with the applicable requirements concerning the form and conlenl
of accounts sel out In the Charities (Accounts and Reports) Regulations 2008 olher than any
requirement that the accounts give a 'lrue and fair view, which is not a maller considered as
part of an Independent examination.
I have no concerns and have come across no mallers in connection with the examination lo which
allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be
reached.
ter Whitehead FCA
Malcolm Piper & Company Limited
Chartered Accountants
Kingsnorth House
Blanheim Way
Birmingham
B44 8LS
Date: 24 August 2024
Page 6

THE THOMAS GIBBINS CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
(Including summary of income and expenditure account)
AS AT 31 DECEMBER 2023
Permanent
fund
General
fund
2023 Permanent
Total
fund
General
fund
2022
Total
Income
Donations
Donations received
2,000
2,000
Investments
Dividends and income from
investments
Other interest received
Rental income
49,861
49,861
49,020
49,020
4,600
4,600
43,200
43,200
Total income
56,467
56,467
92,220
92,220
Expenditure on-
Charitable aclivilies
Donations, grants and other
benefits paid
153,8771
153,8771
164,8181
164,8181
Other
Investment property costs
(note 31
Investment management
costs
Legal and other professional
fees Inole 41
Bad debt recovered I (written
offl
Depreciation
115,0551
115,0551
{4,1341
14,1341
{3,476}
15,1851
18,6611
13,632}
15,3781
19,0101
116.5751
{16,575)
110,0281
110,0281
2,260
11,995)
2,260
11,995}
138,6621
138,662)
Total expenditure
3,476
90,427
93,903
3,632
123,020
126.652
Net lexpenditurel beforg
gains and losses
13,4761
133,9601
137.4361
13,6321 130,800}
134.432)
Nel gains I Ilossesl on
investments
7,073
55,736
62.809
146.4851 1114,2521 1160,737)
Net surplusl{defi¢itl and
Net movèment in funds
3,597
21,776
25,373
150,117) 1145,0521 1195,1691
Total funds brought forward
at 1 January 2023
1,027,437
1,002,709
2,030,146 1,077,554 1,147,761
2,225,315
Total funds carried forward
At 31 December 2023
1,031,034
1,024,485
2,055,519 1,027,437 1,002,709 2,030,146
Atl gains and losses recognised in the year are included above.
These unaudited financial slalemenls have been subject to Independent Exarninalion. See report on page 6.
The notes on pages g 10 13 form part of the financial slalemenls.
Page 7

THE THOMAS GIBBINS CHARITY
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
FIXED ASSETS
Tangible assets
32,205
Investments
Listed investments
Investment property
Money held by brokers
1,530,680
406,074
12,240
1,530.061
406,074
8,466
1,948,994
1,944,601
TOTAL FIXED ASSETS
1,981,199
1,944,601
CURRENT ASSETS
Debtors
Trade debtors
Prepayments
63
18,034
13,533
18,097
13,533
Cash and bank account
Current account
76.472
86,189
CURRENT LIABILITIES..
Accruals and other creditors
VAT
119,3411
908
112,8021
1.375
20,249
14,177
NET CURRENT ASSETS
74,319
85,545
NET ASSETS
2,055,519
2,030,146
CHARITY FUNDS
General fund
nel current assets
Permanent fund
investments at cost
nel current assets
1,024,485
1,002.709
406,074
624,960
406,074
621,363
TOTAL CHARITY FUNDS
2,055,519
2,030,146
These financial slalemenls were approved and authorised for issue by the Board on 24 August 2024.
Signed on beha
of the tK)ard of Truslee8'.
Lomer- Trustee
D S Jackson- Trustee
These unaudited financial slalemenls have been subject to independent ex8minalion. See report on page 6.
The notes on pages g to 13 form part of the financial slalemenls.
Page 8

THE THOMAS GIBBINS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 ACCOUNTING POLICIES
Charity status
The charity is a consliluled under a Trust Deed in the United Kingdom and registered with the
Charity Commission in England. The address of the principal office is given in Ihe Charity
Information on page 1 of these financial slalemenls. The nature of the Charity's operation and
principal activities are given on page 2.
b. Basis of accounting
The financial slalemenls have been prepared in accordance with the Sialemenl of
Recommended Practice ISORPI, "Accounting and Reporting by Charities as applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard 102
IFRS 1021 applicable in the United Kingjom and Republic of Ireland and the Charities Act 2011.
The financial slalemenls are prepared on a going concern basis under the historical cost
convention, modified lo include investments and investment properties al market value.
The Trust, as a small charity, is exempl from the requirements lo prepare a Stalernenl of Cash
flows.
The presentation currency of the financial statements Is the pound sterling (£1.
The significant accounting policies applied in the preparation of these financial statements are
sel out below. These policies have been consislenlly applied lo all years presented unless
otherwise slated.
c. Fund accounting
General funds are Jnreslricled funds which are available for use al the discretion of the
Trustees in furtherance of the general objective of the Charity and which have not been
designed for other purposes.
Permanent ftjnds represent those assets which musl be held permanently by the Charity.
principally inveslmenls. Income arising on the endowment funds can be used in accordance
with the objects of the Charity and is included as unrestricted income. Any capital gains or
losses arising on the investments form part of the fund. Investment management charges and
legal advice relating lo the funds are charged against the fund.
d. Income recognltlon
All income is included in the SOFA when the Charity is legally enlilled lo the income after any
performance conditions have been met," the amount can be quantified wlh reasonable
accuracy", and il is probable that the income will be received.
Investment income is earned through holding assets for investment purposes such as shares,
investment funds and property. 11 includes dividends, interest and rental income and Is all
allocated lo General Fund in accordance with the Trust Deed.
Page 9

THE THOMAS GIBBINS CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
1 ACCOUNTING POLICIES Icontlnuedl
Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all Costs related lo the category. Where cosls cannot be directly attributed to
particular headings they have been allocated lo activities on a basis consislenl with use of the
resources. Expenditure is recognised where there is a legal or conslruclive obligation lo make
payments lo third parties, it is probable that selllemenl will be required and the amount of the
obligation can be measured reliably. 11 is calegorised under the following headings..
Expenditure on charitable activities includes donations, grants ané benefits paid.,
Investment management costs relate lo costs of professional investment managers and
Other expenditure represents those items not falling into the above categories.
f. Investment properties
The investment property is reviewed annually by the Trustees for evidence of potential
impairment having due regard for market conditions and other similar local properlies. The
carrying value of the property is adjusled accordingly. The SOFA includes the nel gains and
losses arising on revaluation during the year. No depreciation is provided in respect of
Investment propeflies.
g. Investmants
Investments are slated at market value al the balance sheet date. The SOFA includes the nel
gains and losses arising on revaluations and disposals throughout the year.
Investment loans are advanced under an agreement which provides for a market rale of interest.
They are therefore disclosed at cost and no adjuslmenl is made in respect of discounted future
cash flows.
h. Tangible fixed assets
Tangible fixed assets are slated al cost less accumulated depreciation. Cost includes cost
directly allribulable lo making the asset capable of operating as intended.
Depreciation is charged on all tangible fixed assets, al rates calculated lo write off the cost, less
eslimaled residual value. of each asset on a systematic basis over ils expected useful life as
follows..
Plant and machinery- 1 00/0 reducing balance.
Debtors and Grgditors receivablg I payable within one ygar
Debtors and creditors with no slateis Interest rale and receivable Of payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
j. Tax
The Charity is exempt from laxalion under section 506111 of the Taxes Act 1988 on the basis
that the fund is recognised as a Charity by the Inland Revenue according lo the terms of the
Trust Deed dated 10 February 1910, as amended by the Deed of Varialion dated 21 April 1970,
and further amended by 8 revised Trust Deed dated 27 August 2008.
Page10

THE THOMAS GIBBINS CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
2 TRUSTEES. REMUNERATION
No remuneration has been paid or 1$ payable to the Trustees either directly or indirectly in the
current or prior year.
Trustee Indernnily Insurance of £3,42512022'. £3.4251 was incurred by the charity in respect of
all the Trustees. Reimbursement of travel expenses, at government approvee rates, amounting
to £31 12022.. £431 w2$ paid by the Charity in respect of one Truslee12022- one).
3 INVESTMENT PROPERTY COSTS
2023
2022
Council lax
9.865
2,470
1,337
1,104
280
Properly Insurance
Properly security
Repairs lo property
4.134
15,055
4,134
4 LEGAL AND OTHER PROFESSIONAL FEES
2023
2022
Independent examiners fee
Accounting and company secretarial fees
Trustee indemnity insurance
Legal fees
Travel, stationery and postage
Bank charges paid
1,850
4.450
3,425
6,461
183
206
1,850
4.450
3,425
128
175
16,575
10,028
5 EMPLOYEES
There were no full or part lime employees during the year12022.. Nill.
Page 11

THE THOMAS GIBBINS CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
6 TANGIBLE FIXED ASSETS
Plant &
machinery
Cost
Additions
34,200
Al 31 December 2023
34,200
Depreciation
Charge for the year
1,995
Al 31 December 2023
1,995
Net book value
31 December 2023
32,205
31 December 2022
7 INVESTMENT PROPERTIES
Freehold
investment
property
Cost
Al 1 January 2023 and
Al 31 December 2023
406,074
Net book value
31 December 2023
406,074
31 December 2022
406,074
The Trustees have considered Ihe carrying value of the FreehoSd Investment Properly al the
Balance Sheet dale and consider that il is not materially different from the open market value.
Page 12

THE THOMAS GIBBINS CHARITY
NOTES TO THE FINANCIAL STATEMENTS {continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
8 INVESTMENT FUNDS
Market
value
Market
value
clhvd.
31.12.23
Change in
market
value
bl￿d.
1.1.23
Additions
Disposals
General Fund
911,195
235,288
1293.5011
55.736
908,718
Permanent Fund
618,866
182,134
1186,1111
7,073
621,962
Total Funds
1.530,061
417,422
479.612
62.809
1,530,680
9 STATEMENT OF FUNDS
At
1 January
2023
Not gain I
Iloss) on
Expanditure Investments
At
31 December
2023
Income
General fund
1.002,709
56,467
190,4271
55.736
1,024,485
Permanent fund
1.027,437
13,4761
7,073
1,031.034
Total funds
2,030,146
56,467
193,9031
62,809
2,055,519
Details of the funds are given in note 1c.
10 RELATED PARTIES
J A Lorner is also a director of T G Stamping and Machining Limited.
During the year, T G St8mping and Machining Lirniled rented the freehold investment property
from the Charity. The rent81 for the year ended 31 December 2023 was £3,60012022'. £43,2001.
This rental income rale has been determined on a commercial 'arm's length. basis. Following
T G Stamping and Machining Limited entering adminislralion on 22 March 2023 and in light of
there being no realistic chance of any amount being recoverable the oulslanding balance due
of £3,600 was full wrillen off as a bad debt.
Page 13