**Charity number: 249692** ## **The Garth Doubleday Trust** ## **Unaudited** **Trustees' report and financial statements** **for the year ended 5 April 2024** **The Garth Doubleday Trust** ## **Contents** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 16| ## **The Garth Doubleday Trust** **Reference and administrative details of the Charity, its Trustees and advisers for the year ended 5 April 2024** ## **Trustees** E G Doubleday C T M Motley G L T Reutter ## **Charity registered number** 249692 ## **Principal office** Montague Place Quayside Chatham Maritime Kent ME4 4QU ## **Accountants** Kreston Reeves LLP Chartered Accountants Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU ## **Independent examiner** Samantha Rouse FCCA DChA Kreston Reeves LLP Chatham Maritime Montague Place Quayside Chatham Kent ME4 4QU ## **Investment Brokers** Cazenove Fund Management Limited 20 Moorgate London EC2R 6DA Page 1 ## **The Garth Doubleday Trust** ## **Trustees' report for the year ended 5 April 2024** The Trustees present their annual report together with the financial statements of the Charity for the year ended 5 April 2024. ## **Objectives and activities** ## **a. Policies and objectives** The Trust Deed provides that the income and capital of the Trust are paid or applied to various charities and charitable purposes taking into account the wishes of the late settlor. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **Achievements and performance** ## **a. Review of activities** The Trust has continued to provide a large number of grants to a wide variety of charitable concerns in the year. The results for the year are set out on page 6. Income from listed investments increased by £28,244 to £106,647. Grants payable increased from £29,900 last year to £39,000. The total number of grant recipients this year was 40 (2023: 34). The value of the Charity's investments increased this year by £76,543, which resulted in total funds increasing by £174,029 compared to a net decrease in 2022/23 of £38,924. Funds at the balance sheet date totalled £2,929,380 (2023: £2,755,351). ## **b. Fundraising activities** The Trust has not undertaken any fundraising activities during the financial year. ## **c. Investment policy and performance** The Trust Deed provides that the Trustees shall invest the Trust monies in any stocks, funds, shares, securities or other investments of whatever nature as they shall in their absolute discretion think fit. The Trustees have appointed Cazenove Fund Management Limited to manage the charity's investment portfolio and are happy with the performance over the last twelve months. Page 2 ## **The Garth Doubleday Trust** **Trustees' report (continued) for the year ended 5 April 2024** ## **Financial review** ## **a. Reserves policy** The Trust has no Endowment funds or Restricted funds. The Unrestricted funds of the Trust are divided between Income and Capital funds which are both available to be distributed under the Trust Deed. The Trustees will continue to distribute the charity's reserves to appropriate charities and charitable purposes. ## **Structure, governance and management** ## **a. Constitution** The Garth Doubleday Trust is constituted under a Trust Deed dated 27 April 1966 and is a registered charity, number 249692. The Deed established a Trust for charitable purposes in the name of the settlor, Garth Leslie Doubelday, for a period of seventy-five years after which the Trust is to be wound up. ## **b. Methods of appointment or election of Trustees** The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. ## **c. Organisational structure and decision-making policies** The day to day running of the Trust is carried out by Kreston Reeves LLP, Chartered Accountants. The trustees meet annually to approve the accounts and determine the grants to be paid in the following twelve months. ## **d. Financial risk management** The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. ## **Plans for future periods** The Trust will continue to invest its funds in such a way that will provide adequate income to enable it to continue helping charities and charitable purposes. No changes are anticipated to the way in which the Trust operates. The Trustees will continue to support the Trust's objectives for the foreseeable future. Page 3 The Garth Doublallay Trust Trust•es' report (¢ontlnuod} for lh• y￿r •nd•d 5 Awll 2024 Statement of Trustees. responsibiliti•s The Trn5tees are responsi14e for pre￿ring the Twstees. retKrt the financial 6t8twnwts In acC￿danCe 8pplicable law and Uniled KIryd(￿ Acctwntlng s￿dards IUnbteJJ lQngdom Generdy Accepted Accxlunting Pf8clicè). Th8 law appl¢ab￿ to dTarities in EnglarKF & Wal8s requires Ihe Tntstees to prepare frnancial statemerts for each finan(xal %thich give a true and lair wew of the stste of affaws of the Charity and of its in￿mIng resources and appbG3tiLy) of reS￿rceS. includirg ts incomt and eyjxndotyre. for Ihal F¢rfcKI. In weparing these finan￿al statem8nt8. the Tnjstees are rtyLirBd to: Seled sultable aceojnbng kh)lioes then them consislenlty: observe the methods and piinciF4es ofthe Charitie5 SORP (FRS 102): make judgements and accwnting esb'mates thal are reasonable and prudent: State wh￿ther applicable UK Acc4wnbng Standards IFRS 1021 have been folk)￿0. suwoct to any materlal departures disths&J and eXE4oknéd in finAn(?d statements.. preparo Ihe financi8l81818m￿ts ￿ th8 g(*)g concern ba￿1 unla881118 InapproFvlttle to presume that th8 Charfty*iM o)ntinu• h bu¥rn86. The Trustees 8re resp(xi8lt40 kee￿ng adoqu8to rK¢wnllng r¢¢frfd$ th81 arv sufflclenl to 6how and explaln the Charitys transactlons and disclose wilh reasonable aGwra¢y 81 any tUTie Ihe fmancial p05iticffl of the Charity and enAble them to ensure th81 the finenaal sl8tements comrAy tr* Charitles Act 2011, the Ch8rtty (Accounts and Reports) Regulab"on8 21M)8 and the provi8iony of Ihe Trust dwj. They are 8lso responwblo for 6algguardlng Ihe assets of th8 Charfty for takn'ng reasonatAe steps f(r the pyevenlion and delèdion of Irdud and other irrEgularities. oved by cth of the rr￿nter8 of th8 bo¥d of Trustees *)d signed on ththr behaw ty. E 6.0a￿bl•d•Y Trustee D818: 4 ILIZ Page 4 **The Garth Doubleday Trust** ## **Independent examiner's report for the year ended 5 April 2024** ## **Independent examiner's report to the Trustees of The Garth Doubleday Trust ('the Charity')** I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts 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 accounts to be reached. > Signed: S M Rouse Dated: 4 February 2025 S Rouse FCCA DChA ## **Kreston Reeves LLP** Chartered Accountants Chatham Maritime Page 5 **The Garth Doubleday Trust** ## **Statement of financial activities for the year ended 5 April 2024** |**Note**
**Income and endowments from:**
Donations and legacies
3
Investments
4
**Total income and endowments**
**Expenditure on:**
Raising funds
5
Charitable activities
8
**Total expenditure**
**Net income before net gains/(losses)**
**on investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Endowment**
**funds**
**2024**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**76,543**
**76,543**
**1,545,194**
**76,543**
**1,621,737**|**Unrestricted**
**funds**
**2024**
**£**
**36,644**
**106,647**
**143,291**
**5,105**
**40,700**
**45,805**
**97,486**
**-**
**97,486**
**1,210,157**
**97,486**
**1,307,643**|**Total**
**funds**
**2024**
**£**
**36,644**
**106,647**
**143,291**
**5,105**
**40,700**
**45,805**
**97,486**
**76,543**
**174,029**
**2,755,351**
**174,029**
**2,929,380**|Total
funds
2023
£
-
78,403| |---|---|---|---|---| |||||78,403
5,166
31,471| |||||36,637
41,766
(80,690)| |||||(38,924)
2,794,275
(38,924)| |||||2,755,351| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 16 form part of these financial statements. Page 6 Th• Garth DO￿l•daY TN*t 8•lanc• sh•8t as at 5 *•rf12024 2023 Investments Cufftint au•ts 10 2.125,290 2,048.747 Cash al bank and h harKI 8OS730 708.092 Creditors: aMO￿ts fal￿d due within year 11 (1.488) N•t CUrr￿t 1*8et• •04,090 706,604 Total n•t 4•Mts 2,929,380 2.755,351 Ch•rlty lund• Endowment fijnds Unré#tri(Xed fund8 12 12 1.621.737 1,307.643 1.545.194 1.210,1 $7 Totsl fvnds 2.929.310 2.755.351 The finandal 818temthts were apr*oved auihLYiwI lor issue by the TNslees sbgned on Ihdr t*haff by. Trustee The notas on pago$ 8 to 16 Im pwl of the88 rm￿da1 statemmts. P¥7 **The Garth Doubleday Trust** **Notes to the financial statements for the year ended 5 April 2024** ## **1. General information** The Garth Doubleday Trust is a charity registered in England with charity number 249692. Its principal office is Montague Place, Quayside, Chatham Maritime, Kent ME4 4QU. The Trust Deed provides that the income and capital of the Trust are paid or applied to various charities and charitable purposes taking into account the wishes of the late settlor. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Garth Doubleday Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are presented in British Sterling and rounded to the nearest Pound. ## **2.2 Going concern** The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 8 **The Garth Doubleday Trust** ## **Notes to the financial statements for the year ended 5 April 2024** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and comprises investment management fees. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. ## **2.7 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.8 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. Page 9 **The Garth Doubleday Trust** ## **Notes to the financial statements for the year ended 5 April 2024** ## **2. Accounting policies (continued)** ## **2.9 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **2.10 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. ## **3. Income from donations and legacies** |Donations
Legacies|**Unrestricted**
**funds**
**2024**
**£**
600
36,044
36,644|**Total**
**funds**
**2024**
**£**
**600**
**36,044**
**36,644**|Total
funds
2023
£
-
-| |---|---|---|---| ||||-| ## **4. Investment income** |Income from listed investments
Bank and other interest receivable
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
71,213
35,434
106,647
78,403|**Total**
**funds**
**2024**
**£**
**71,213**
**35,434**
**106,647**
78,403|Total
funds
2023
£
65,633
12,770| |---|---|---|---| ||||78,403| ||||| Page 10 ## **The Garth Doubleday Trust** ## **Notes to the financial statements for the year ended 5 April 2024** ## **5. Investment management costs** |Investment management fees
Total 2023
**Analysis of grants**
Grants payable
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
5,105
5,166
**Grants to**
**Individuals**
**2024**
**£**
39,000
29,900|**Total**
**funds**
**2024**
**£**
**5,105**
5,166
**Total**
**funds**
**2024**
**£**
**39,000**
29,900|Total
funds
2023
£
5,166| |---|---|---|---| ||||Total
funds
2023
£
29,900| ||||| ## **6. Analysis of grants** Page 11 **The Garth Doubleday Trust** ## **Notes to the financial statements for the year ended 5 April 2024** **7. Grants paid** |Army Benevolent Fund
Bapchild PCC
Bible Lands Society
British & Foreign Bible Society
Brooke Hospital for Animal Welfare
Charterhouse Mission
Christ Church
Clare & Bermondsey Trust
Clemens Reutter Trust
Dolphin Sailing Barge Museum Trust
Dr Edwin Doubleday Fund
European Children's Trust
Friends of Bicknor
Frinsted PCC
Fruiterers' Charitable Trust
Gurney Fund for Police Orphans
Iwade Church Trust
Mental Health Foundation
Migrant Helpline
Milstead PCC
National Hospital for Neurology and Neurosrgery
Norton PCC
Oxfam
Oxford Trust Fund
Racing Welfare
RAF Benevolent Fund
Rodmersham PCC
Rodmersham Society
Royal Agricultural Benevolent Institution
Royal Artillery Charitable Trust
Royal National Lifeboat Institution
Royal UK Benevolent Institution
Salvation Army
Sittingbourne Heritage Centre and Museum
St Clement & St James Community Development Project
Sue Ryder Foundation
Teynham PCC
Tonge PCC|**Unrestricted**
**funds**
**2024**
**£**
700
1,600
800
800
1,000
600
600
600
3,000
300
1,800
700
800
800
1,500
800
800
1,000
700
800
1,000
800
1,000
700
800
800
1,500
1,000
1,000
800
1,200
1,000
1,200
600
1,000
1,000
800
1,250
**37,150**|**Total**
**funds**
**2024**
**£**
**700**
**1,600**
**800**
**800**
**1,000**
**600**
**600**
**600**
**3,000**
**300**
**1,800**
**700**
**800**
**800**
**1,500**
**800**
**800**
**1,000**
**700**
**800**
**1,000**
**800**
**1,000**
**700**
**800**
**800**
**1,500**
**1,000**
**1,000**
**800**
**1,200**
**1,000**
**1,200**
**600**
**1,000**
**1,000**
**800**
**1,250**
**37,150**|Total
funds
2023
£
500
750
800
800
1,000
500
500
500
2,520
250
750
500
750
750
1,500
700
750
600
600
750
750
750
750
500
700
600
1,500
750
600
750
750
500
750
600
600
700
750
1,200| |---|---|---|---| ||||29,270| Page 12 **The Garth Doubleday Trust** ## **Notes to the financial statements for the year ended 5 April 2024** |Treloar Trust
Tunstall PCC|600
1,250
39,000|**600**
**1,250**
**39,000**|500
1,200| |---|---|---|---| ||||30,970| ## **8. Analysis of expenditure by activities** |Charitable activities
Total 2023|**Grant**
**funding of**
**activities**
**2024**
**£**
39,000
29,900|**Support**
**costs**
**2024**
**£**
1,700
1,571|**Total**
**funds**
**2024**
**£**
**40,700**
31,471|Total
funds
2023
£
31,471| |---|---|---|---|---| |||||| ## **Analysis of support costs** |Legal and professional fees
Independent examination fees
Total 2023|**Support**
**costs**
**2024**
**£**
60
1,640
1,700
1,571|**Total**
**funds**
**2024**
**£**
**60**
**1,640**
**1,700**
1,571|Total
funds
2023
£
83
1,488| |---|---|---|---| ||||1,571| ||||| Page 13 **The Garth Doubleday Trust** ## **Notes to the financial statements for the year ended 5 April 2024** ## **9. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 5 April 2024, no Trustee expenses have been incurred (2023 - £NIL). ## **10. Fixed asset investments** |**Cost or valuation**
At 6 April 2023
Revaluations
At 5 April 2024|**Listed**
**investments**
**£**
**2,048,747**
**76,543**| |---|---| ||**2,125,290**| ## **11. Creditors: Amounts falling due within one year** ||**2024**|2023| |---|---|---| ||**£**|£| |Other creditors|**1,640**|1,488| Page 14 **The Garth Doubleday Trust** ## **Notes to the financial statements for the year ended 5 April 2024** ## **12. Statement of funds** ## **Statement of funds - current year** ||**Balance at 6**|**Balance at 6**|||**Gains/**|**Gains/**|**Balance at 5**|**Balance at 5**| |---|---|---|---|---|---|---|---|---| ||**April 2023**||**Income**|**Expenditure**|**(Losses)**|||**April 2024**| ||**£**||**£**|**£**|**£**|||**£**| |Income fund|**1,210,157**||**143,291**|**(45,805)**|**-**|||**1,307,643**| |Capital fund|**1,545,194**||**-**|**-**|**76,543**|||**1,621,737**| |**Total of funds**|**2,755,351**||**143,291**|**(45,805)**|**76,543**|||**2,929,380**| |**Statement of funds - prior year**||||||||| ||Balance at||||Gains/|||Balance at| ||6 April 2022||Income|Expenditure|(Losses)||5 April 2023|| ||£||£|£|£|||£| |Income fund|1,168,391||78,403|(36,637)|-|||1,210,157| |Capital fund|1,625,884||-|-|(80,690)|||1,545,194| |**Total of funds**|2,794,275||78,403|(36,637)|(80,690)|||2,755,351| |||||||||| Page 15 **The Garth Doubleday Trust** ## **Notes to the financial statements for the year ended 5 April 2024** ## **13. Analysis of net assets between funds** ## **Analysis of net assets between funds - current period** |Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Endowment**
**funds**
**2024**

**£**
1,621,737
-
-
1,621,737|**Unrestricted**
**funds**
**2024**
**£**
503,553
805,730
(1,640)
1,307,643|**Total**
**funds**
**2024**
**£**
**2,125,290**
**805,730**
**(1,640)**| |---|---|---|---| ||||**2,929,380**| ## **Analysis of net assets between funds - prior period** |Fixed asset investments
Current assets
Creditors due within one year
**Total**|Endowment
funds
2023
£
1,545,194
-
-
1,545,194|Unrestricted
funds
2023
£
503,553
708,092
(1,488)
1,210,157|Total
funds
2023
£
2,048,747
708,092
(1,488)| |---|---|---|---| ||||2,755,351| ## **14. Related party transactions** The charity made a grant of £3,000 (2023 - £2,520) to the Clemens Reutter Memorial Trust during the year. G L T Reutter is a trustee of both the donor and donee charities. There were no outstanding balances owing between related parties and the charity at 5 April 2024. Page 16