THE THOMAS GIBBINS CHARITY TRUSTEES. REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2025 Registered Charity number.. 246451
THE THOMAS GIBBINS CHARITY TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 CONTENTS Pages Administrative information Trustees, report including statement of Trustees, responsibilibes Independent examiners, report Statement of financial activities (including summary of income & expenditure accounti Balance sheet Notes to the financial slalemenls 9-13
THE THOMAS GIBBINS CHARITY ADMINISTRATIVE INFORMATION Trustees". D S Jackson J A Lomer Registered office. Kingsnorth House Blenheim Way Birmingham 844 8LS Bankers". Virgin Money 133 - 138 New Street Birmingham B2 4JQ Accountants.. Malcolm Piper & Company Limited Kingsnorth House 81enheim Way Birmingham B44 8LS Investment managers.. R8C 8rewin Dolphin 61n fioor The Chatwin Building 81 Colmore Row Birmingham 83 2BA Registered Charity number. 246451 Enquiries Mr D S Jackson Clo Malcolm Piper & Company Limited Kingsnorth House Blenheim Way Birmingham 844 8LS Page 1
THE THOMAS GIBBINS CHARITY TRUSTEES, REPORT The Trustees present their report and the unaudited financial slalements for the year ended 31 December 2025. The Trustees have adopted the provisions of Ihe Slalement of Recommended Practice ISORPI 'Accounting and Reporting by Charities IFRS 1021 in preparing the annual report and financial slalemenls of the Charity. NATURE OF THE GOVERNING INSTRUMENT The Trust Fund Is registered as a Charity Iregislered Charity number 2464511 and was established under the provision contained in the ¢icI1 ol the Will of Mr Thomas Gibbins. The Will was dated 9 March 1906 and the codicil 5 July 1907. This was incorporated Into a Trust Deed dated 10 February 1910 ancl amended by a Deed of Variation dated 21 April 1970 and further amended by a revised Trust Deed dated 27 August 2008 as amended on 24 September 2025 TRUSTEES The Tmstees who held office during the year were as follows.. D S Jackson J A Lomer As the Charity becomes aware of individuals with an interest in the Charity's aclwilies, or Whe il is perTrived that a Trustee can complement the skills held by Curn1 Trustees, they put In place a plan to train them. PRINCIPAL ACTIVITY The object of the Trust Fund is to apply the income of the Charity in furthering the following objects.. {al Providing pensions, grants and other benefits to employees on their retiring trom the Servi of the Company. or ils successor businesses, or on their becoming unable lo work.. Ibl Provision of nursing care or other medical assistance lo employees suffering from ill health., and Icl 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 for the payment o* benefits. Income from assets in the Permanent Fund is held for the general purposes of the Charity and is therefore unreslricled. 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 a¢livilies and selling the grant making policy lor the year. Page 2
THE THOMAS GIBBINS CHARITY TRUSTEES, REPORT {CONTINUEDI FINANCIAL REVIEW The results for the year and financial posilion 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 2025 amounted lo £89,96712024'. £98,384) Direct Charitable expenditure In the form of donations, grants and other benefits paid lolalled £67,90812024. £66,806) and adminislralive and management expenses nel lolalled £56,28712024' £88,446). This resulted in a balance of nel expenditure of £34,228 12024. £56,868) dedLJ¢led from reserves available for future distribution After a number of years in which uncortainty has resulted in the grant amount boing held unchanged, the Trustees were pleased lo be able lo increase the grant amount paid lo all recipients by approximately 60/0 In the last quarter. Again, the Trustees were able lo assist recipients of the grant at Christmas, when financial budgets can be particularly stretched by awarding all grant recipients a £250 Christmas bonus. During the current year one deferred member became a grant participator after applying for assistance whilst a further deferred member was awarded a hardship payment during the year. 11 was with great sadness that we were informed of the death of Iwo grant recipients during the year. INVESTMENTS The Trustees monitor investments Ihiough the appointment ol an investment advisor and the reluins achieved on those investments against the agreed strategy. The Trustees are aware ol the continued economic uncertainly both in the UK. Europe and Worldwide. The UK continues to see a difficult economic outlook which in part Is exacerbated by world events. In particular, since the year end, the volatility in petrochemical prices is expected lo impact virtually all industries and sectors. The easing of inflation and interest rates during the first quarter was expected to provide some economic growth However, inflation is expected ID Increase as the costs incurred by businesses. due lo Increased oil prices, are passed on to the consumer. The stock market again finished the year stronger than had been anticipated and this has resijlted In a continued Increase in the market value of the Investment portfolio. During Ihe year under review, the investment portfolio saw nel realised and unrealised gains on investments tolalling £100.064 12024.. £87,149). DONATIONS BENEFIT POLICY All employees who, at the point of its Iiquidalion, had served a minimLJm 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 ICONTINUEDI RESERVES POLICY At 31 December 2025 the Charity hel¢Y reserves. less Investment assets and fixed assets, of £109,800 12024". £80.2731. Both Investment assets and fixed assets are invested lo provide a future Income for the Trust and are therefore not considered lo be distributable assets. The restricted funds. which are all invested. form the Permanent Fund, which 1s not available for distribution under the terms of the Trust Deed. The annual expenditure for the year for the on-going activities was £132,36012024'. £123,9861 including the exceptional hardship payments made in the year. The cash reserves therefore represent approximately 6.5 monlhs12024' 7 monlhsl 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. Additionally, distributions are not received in equal or necessarily regular amounts, resulting in periods of time when no income is being received bul expenditure is still incurred. The investment property held requires, from lime to lime, significant expenditure to maintain its intrinsic value. The investment property has periods when it is vacant. and the Tmsl has lo fully bear the costs relating lo such property including council tax, security and utilities during these periods. PLANS FOR FUTURE PERIODS The Trustees intend lo continue with the provision of donations, grants 2nd other benefits to retired employees. They intend to review thèse 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 to guide them on the various options available lo them including". letting all or part of the property. retaining the property unoccupied, selling the property demolishing the propety. To assist a new start-up business, which has been forrned by some of the former employees. the Trustees have allowed them lo use part of the p¥emises on an initial short-term renl-free basis. Page 4
THE THOMAS GIBBINS CHARITY TRUSTEES, REPORT ICONTINUEDI TRUSTEES. RESPONSIBILITIES The Trustees are responsible for prepafing the Trustees, Report and financial statements In accordance with applicable law and United Kingdom accounting standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo Charities in England and Wales law requires the Trustees to prepare financial slalemenls 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 ol the resources of the Charity lor that year. In preparing these financial slalemenls, the Trustees are required to. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Chanties SORP IFRS 1021 make judgements and estimates that are reasonable and prudent., act in accordance wrth the rules of the Charity, the Charty Commission and the Trust Deed., stale whether applicable accounting standards have been followed. subject lo any material departures discussed and explained the financial slalements., prepare fi'nancial slalemènls on the going concem 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 ieasonable accur2cy al any lime the financial position of the Charity and enable them lo ensure that the financial statements comply wrth the Charities Act 2011. the Charities IAccounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets ol the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. STATEMENT OF DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER We, the Trustees of the Charity who held office al 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 all the steps that we ought lo have taken as Trustees in order lo make ourselves aware of any relevant InformatKJn and lo establish that the Charity's Independent Examiner is aware of that information Approved by the Trustees on 20 April 2026 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 to the Charity Trustees on ry examination of the accounts of the Charity for the year ended 31 December 2025. which are set out on pages 7 to 13. RESPONSIBILITIES AND BASIS OF THE REPORT As the Charity's Trustees you are responsible for the preparation of the accounts in accordan with the requirements of the Charities A¢1 2011 I'lhe A¢l'l I report in respect of my examination of the Charity's accounts 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 14515llbl of the Act. NDEPENDENT EXAMINER'S STATEMENT I have completèd my examination I confirm that no materia5 matters have come lo my attention in connection with the ex8minabon 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 12 the accounts do not accord with these records, or 13} the accounts do not comply with the applicable requirements concerning the fomi and content of accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view, which is not a matter considered as parl of an independent examination. I have no COnrn$ and have come across no matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reache er Whitehead FCA Malcolm Piper & Company Limited Chartered Accountants Kingsnorth House Blenheim Way Bimiingham B44 8LS Date- 20 April 2026 Page 6
THE THOMAS GIBBINS CHARITY STATEMENT OF FINANCIAL ACTIVITIES Ilncluding summary ot income and expenditure accounti AS AT 31 DECEMBER 2025 Perrnanent fund General fund 2025 Permanent Total fund General fund 2024 Total Income Investments Dividends and income from investments Rental income 50,448 39,521 50.446 39,521 53.384 45.000 53,384 45,000 Total income 89.967 89,967 98,384 98,384 Expendlture on.. Charitable aelivities Donations. grants and other benefits paid 167,908} 167,9081 166,8061 166,8061 Other Investment property costs Inole 31 Investment management costs Legal and other professional fees Inole 41 127,343} 127.3431 166.164} 166,1641 14,090) 15,336} {9,4261 13,4891 15,217} 18,7061 116.6201 116,6201 110.355} 110,3551 Depreciation 12.8981 12.8981 13,2211 13,2211 Total expenditure 4,090 120.105 124.195 3.489 151,763 155,252 Net lexpenditurel before galns and losses 14,090} 130.138} 134.228} 13,4891 153,379) 156,8681 Nel gains I Ilossesl on investments 29,302 70,762 100,077 17121 87,861 87.149 Net surplusl{deficitl and Net movement in funds 25,212 40,624 65,836 14,2011 34.482 30,281 Total funds brought forward at 1 January 2025 1,026,833 1,058.967 2.085,800 1,031,034 1,024.485 2,055,519 Total funds carried forward At 31 December 2025 1,052,045 1,099,591 2,151.636 1,026,833 1.058,967 2,085.800 All gains and losses recognised in the year are included above. These unaudited financial slalements have been subject lo Independent ExaminalK)n. See report on page 6. The notes on pages 9 10 13 form part of the financial slalemenls. Page 7
THE THOMAS GIBBINS CHARITY BALANCE SHEET AS AT 31 DECEMBER 202S 2025 2024 Note FIXED ASSETS Tangible assets 26,086 28,894 Investments Listed Investments Investment property Money held by brokers 1,592,704 406,074 16,972 1,552,797 406,074 17,672 2,015,750 1,976,543 TOTAL FIXED ASSETS 2.041,836 2.005,527 CURRENT ASSETS Debtors Trade debtors Prepayments 18,960 27,630 21,600 17,612 46,590 39,212 Cash and bank account Current account 70,881 71,473 CURRENT LIABILITIES: Accruals and other creditors VAT 17.4101 261 121.3311 9,081 7,671 30.412 NET CURRENT ASSETS 109,800 80.273 NET ASSETS 2.151.636 2.085.800 CHARITY FUNDS General fund net current assets Permanent fund Investments at cost net current assets 1,099,591 1,058,967 406,074 644,725 406,074 620.759 TOTAL CHARITY FUNDS 2,151,636 2,085,800 These financial statements were approved and aulhorised for issue by the Board on 20 April 2026 Signed on be e board of Trustees.. tj £.J J A Lomer- Trustee These unaudited financial statements have been subject to independent examination. See report on page 6. The notes on pages 9 10 13 form part ol the financial slalemenls. Page 8
THE THOMAS GIBBINS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 1 ACCOUNTING POLICIES a. Charity status The charity is a consliluled under a Trusl Deed in the United Kingdom and registered wilh the Charity Commission in England. The address of the principal office is given in the Charity information on page l of these financial statements. The nature of the Charity's operation and principal activities are given on page 2. b. Ba$is of accounting The financial statements have been prepared in accordance with the Slalemenl of Recommended Practice ISORPI, Accounting and Reporting by Charities. as app5icable lo charities preparing their accounts in accordance with the Financial Reporting Standard 102 IFRS 1021 applicable in the United Kingdom and Republic of Ireland and the Charities Act 2011. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include investments and investment properties at market value. The Trust, as a small charity, is exempl from the requirements to prepare a Statement 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 set out below. These policies have been consislenlly applied to all years presented unless otherwise slated. Fund accounting General funds are unrestricled funds which are available lor use al the discretion of the Trustees In furtherance of the general obieclive of the Charsly and which have not been designed for other pijrposes. Permanent funds 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 unreslricled 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 recognition All income is included in the SOFA when the Charity Is legally enlrtled lo the income after any perforrnance conditions have been mel., the amount can be quantified with reasonable accuracy", and il Is probable that the income will be received Investment Income is earned Ihrough holding assets for investment purposes such as shares, investrrEnt funds and property. It Includes dividends, Interest and rental income and is all allocated lo General Fund in accordance with the Trust Deed P2ge 9
THE THOMAS GIBBINS CHARITY NOTES TO THE FINANCIAL STATEMENTS (Continued FOR THE YEAR ENDED 31 DECEMBER 2025 1 ACCOUNTING POLICIES (Continuodl e. Expendltur¢ recognition Al expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Where costs cannot be directly attributed to particular headings they have been allocated lo activities on a basis consistent 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 thal selllemenl will be required and the amount of the obligation can be measured reliably. It is calegorised under the following headings. Expenditure on charilab5e activities includes donations, grants and benefits paid., Investment management costs relate lo costs ol professional investment managers and other expenditure represents those Items not falling into the above categories. Investmgnt properties The investment propety is reviewed annually by the Trustees for evidence of potential impairment having due regard for market conditions and other similar local properties. The cairying value of the property is adjusted accordingly. The SOFA includes the net gains and losses arising on revaluation during the year. No depreciation is provided in respect of Investment properties g. Investments Investments are slated al market value at the balance sheet dale. 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 rate ol Interest. They are therefore disclosed al eost and no adjustment is made In respect of discounted future cash flows. h. Tangible fixed assets Tangible fixed assets are staled at cost less accumulated depreciation. Cost includes cost direc#y allribulable to making the asset capable of operating as intended. Depreciation is charged on all tangible fixed assets. at rates calculated to write off the cost, less estimated residual value, of each asset on a syslemalic basis over its expected useful life as follows.. Plant and machinery - 1 Ovo reducing balance. Debtors and credltors recelvable I payable within one year Debtors and creditors with no slated interest rale and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Tax The Charity is exempl from 12X8lion 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 2mended by the Deed ofvarialion dated 21 April 1970, and further amended by a revised Trust Deed dated 27 August 2008 as amended on 24 September 2025. Page 10
THE THOMAS GIBBINS CHARITY NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 DECEMBER 2025 2 TRUSTEES, REMUNERATION No Temuneralion has been paid or is payable lo the Trustees either directly or indirectly in the Current or prior year. Trustee Indemnity Insurance of £3,43612024'. £3,429) was incurred by the charity in respect of all the Trustees. Reimbursement of travel expenses, al government approved rates, amounting 10 £3312024.. £1731 was paid by the Charity in respect of one Truslee12024 - one). 3 INVESTMENT PROPERTY COSTS 2025 2024 Council tax 19,272 11,0681 1,362 1,560 750 5,467 51,374 6,690 2,135 1.557 3.758 650 Property insurance Property security Property professional fees Repairs to property 27,343 66,164 4 LEGAL AND OTHER PROFESSIONAL FEES 202S 2024 Independent examiners fee Accounting and company secretarial fees Trustee indemnity insurance Legal fees Travel. slalionery and postage Bank charges paid 1,950 4,550 3,436 6,146 333 205 1,950 4,450 3.429 368 158 16,620 10,355 5 EMPLOYEES There were no full or part lime employees during the year12024' Nill. Page11
THE THOMAS GIBBINS CHARITY NOTES TO THE FINANCIAL STATEMENTS Icontinued) FOR THE YEAR ENDED 31 DECEMBER 2025 6 TANGIBLE FIXED ASSETS Plant & machinery Cost Balance brought forward 34,200 At 31 Dember 2025 34,200 Depreciation Balance brought forward Charge for the year 5,216 2,898 Al 31 Dernber 2025 8,114 Net book value 31 December 2025 26,086 31 December 2024 28,984 7 INVESTMENT PROPERTIES Freehold investment propety Cost At 1 January 2025 and At 31 December 2025 406,074 Net book value 31 December 2025 406.074 31 December 2024 406.074 The Trustees have considered the carrying value of the Freehold Investment Property 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 2025 8 INVESTMENT FUNDS Market value blfwd. 1.1.25 Market value clfwd. 31.12.25 Change In market value Additions DIsp05als General Fund 937,972 133,140 1183,3071 70,762 958,567 Permanent Fund 614,825 146,717 1156,7071 29,302 634,137 Total Funds 1,552,797 279,857 340,014 100.064 1,592,704 9 STATEMENT OF FUNDS At 1 January 2025 Net gain on Investments At 31 December 2025 Income Expendtture General fund 1,058,967 89,967 1120,105} 70,762 1,099,591 Permanent fund 1,026,833 14,0901 29,302 1,052,045 Total funds 2,085,800 89.967 1124,1951 100,064 2,151,636 Details of the funds are given in note 1 c. Page 13