|||Page|| |---|---|---|---| |ReportoftheTrustees|1|to|4| |ReportoftheIndependentAuditor|5|to|7| |StatementofFinancialActivities||8|| |StatementofFinancialPosition||9|| |StatementofCash Flows||10|| |Notes tothe StatementofCash Flows||11|| |Notes totheFinancial Statements|12|to|19| |Detailed StatementofFinancialActivities||20|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## Report o(tke Independent A￿ditOr to ¢h¢ TThslee8 of The G C Gibsom Cbaritable Tntst Use of my repfyrt This r¢￿￿ is ma(k solely to tk ¢lwity's as a b(dy. in acc(th with Pan 4 of th¢ Charities (A¢¢ounts and RetM)rts) Regulations 2(KJ8. My awjit work has F*en that I mI￿t stat¢ to th¢ charity's trustees those matters I required to State to tlwn in an a￿litoeS retth a￿1 for no other purrmw To th¢ full& ¢xLetrt pemiitted by law, I (k> not accept or assume rest￿lbility to any(￿¢ othes tlw th¢ charity arrfl the charity's tnLStees as a Erfyjy. for tny audit w(Kk. for this rerrt or for the opinions I have fOrD￿d. Grahame J Hartfftt Limit I Windtush Road Keynskn Bristol Avon BS31 IQL ## |||31.3.21|31.3.20| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Investment income|2|481,096|796,681| |**EXPENDITURE ON**|||| |Raising funds|3|45,916|53,856| |**Charitable activities**|4||| |Charitable Donations||691,608|625,680| |||--|| |**Total**||737,524|679,536| |Net gains/(losses) on investments||2,084,821|(2,395,107)| |**NET INCOME/(EXPENDITURE)**||1,828,393|(2,277,962)| |**RECONCILIATION OF FUNDS**|||| |**Total funds brought forward**||14,535,676|16,813,638| |**TOTAL FUNDS CARRIED FORWARD**||16,364,069|14,535,676| ## |||31.3.21|31.3.20| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**FIXED ASSETS**|||| |**Investments**|||| |Investments|9|14,078,218|12,697,201| |Investment property|10|455,881|362,500| |||14,534,099|13,059,701| |**CURRENT ASSETS**|||| |Debtors|II|18,750|129,916| |Cash atbank||1,856,970|1,396,043| |||1,875,720|1,525,959| |**CREDITORS**|||| |Amounts falling duewithin oneyear|12|(45,750)|(49,984)| |||--|--| |**NET CURRENT ASSETS**||1,829,970|1,475,975| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||16,364,069|14,535,676| |**NET ASSETS**||16,364,069|14,535,676| |**FUNDS**|13||| |Unrestricted funds||16,364,069|14,535,676| |**TOTAL FUNDS**||16,364,069|14,535,676| ## ||31.3.21|31.3.20| |---|---|---| |Notes|£|£| |**Cash flows from operating activities**||| |Cashgeneratedfromoperations|(608,043)|(656,222)| |Interestpaid|(49)|(144)| |Netcash usedinoperatingactivities|(608,092)|(656,366)| |**Cash flows from investing activities**||| |Purchaseoffixedassetinvestments|(2,340,516)|(1,413,910)| |Sale offixedassetinvestments|2,457,189|1,390,590| |Interestreceived|45,500|133,992| |Dividendsreceived|413,096|637,189| |Netcashprovided byinvestingactivities|575,269|747,861| |**Cash flows from financing activities**||| |Newloans inyear|(56,250)|(200,000)| |Loanrepayments inyear|100,000|100,000| |Loanconvertedto equity|450,000|| |Netcashprovided by/(usedin) financingactivities|493,750|(100,000)| |**Change in cash and cash equivalents in**||| |**the reporting period**|460,927|(8,505)| |**Cash and cash equivalents at the**||| |**beginning of the reporting period**|1,396,043|1,404,548| |**Cash and cash equivalents at the end of**||| |**the reporting period**|1,856,970|1,396,043| |**RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET **
**OPERATING ACTIVITIES**|**CASH FLOW FROM**|| |---|---|---| ||31.3.21|31.3.20| ||£|£| |**Net income/(expenditure) for the reporting period (as per the**||| |**Statement of Financial Activities)**|1,828,393|(2,277,962)| |**Adjustments for:**||| |(Gain)/losses oninvestments|(2,084,821)|2,395,106| |Interestreceived|(45,500)|(133,992)| |Interestpaid|49|144| |Dividendsreceived|(413,096)|(637,189)| |Decrease/(increase) indebtors|111,166|(31,885)| |(Decrease)/increaseincreditors|(4,234)|29,556| |**Net cash used in operations**|(608,043)|(656,222)| ||At 1.4.20|Cashflow|At31.3.21| |---|---|---|---| ||£|£|£| |**Net cash**|||| |Cashatbank|1,396,043|460,927|1,856,970| ||1,396,043|460,927|1,856,970| |**Total**|1,396,043|460,927|1,856,970| ## ## ## ## ## ## ## ## ## ## |**2.**|**INVESTMENT INCOME**||| |---|---|---|---| |||31.3.21|31.3.20| |||£|£| ||Rents receivable|22,500|25,500| ||Investment income receivable|413,096|637,189| ||Deposit account interest|657|1,723| ||Other interestreceived|44,843|132,269| |||481,096|796,681| ||||--| |**3.**|**RAISING FUNDS**||| ||**Raising donations and legacies**||| |||31.3.21|31.3.20| |||£|£| ||Support costs|8,027|8,820| ||**Investment management costs**||| |||31.3.21|31.3.20| |||£|£| ||Portfolio management|37,840|44,892| ||Interestpayable and similarcharges|49|144| |||---|---| |||37,889|45,036| |||--|---| ||Aggregate amounts|45,916|53,856| |**4.**|**CHARITABLE ACTIVITIES COSTS**||| ||||Grant| ||||funding of| ||||activities| ||||(see note| ||||5)| ||||£| ||Charitable Donations||691,608| ||||--| |**5.**|**GRANTS PAYABLE**||| |||31.3.21|31.3.20| |||£|£| ||Charitable Donations|691,608|625,680| ## ||31.3.21|31.3.20| |---|---|---| ||£|£| |Art, Music andEntertainment|52,634|26,000| |HealthandMedicalResearch|98,397|99,706| |Religion|43,500|42,500| |NatureConservation|78,000|87,600| |Civil Society|261,567|216,874| |Education|100,010|97,500| |Care|42,500|40,500| |Hospice|15,000|15,000| ||691,608|625,680| |||Governance| |---|---|---| |||costs| |||£| |Raisingdonations|andlegacies|8,027| ## ## ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Investmentincome|796,681| |**EXPENDITURE ON**|| |Raisingfunds|53,856| |**Charitable activities**|| |CharitableDonations|625,680| |**Total**|679,536| |Netgains/(losses) oninvestments|(2,395,107)| |**NET INCOME/(EXPENDITURE)**|(2,277,962)| |||||Unrestricted| |---|---|---|---|---| |||||fund| |||||£| ||**RECONCILIATION OF FUNDS**|||| ||**Total funds brought forward**|||16,813,638| ||**TOTAL FUNDS CARRIED FORWARD**|||14,535,676| |**9.**|**FIXED ASSET INVESTMENTS**|||| ||||31.3.21|31.3.20| ||||£|£| ||Shares||13,671,968|11,797,201| ||Loans||406,250|900,000| ||||14,078,218|12,697,201| ||Additional informationas follows:|||| |||Listed|Unlisted|| |||investments|investments|Totals| |||£|£|£| ||**MARKET VALUE**|||| ||At 1 April 2020|13,870,260|328,267|14,198,527| ||Additions|1,793,201|547,315|2,340,516| ||Disposals|(2,270,072)||(2,270,072)| ||At31 March2021|13,393,389|875,582|14,268,971| ||**PROVISIONS**|||| ||At 1 April 2020|2,384,799|16,527|2,401,326| ||Revaluationadjustments|(1,876,940)|72,617|(1,804,323)| ||At31 March2021|507,859|89,144|597,003| ||**NET BOOK VALUE**|||| ||At31 March2021|12,885,530|786,438|13,671,968| ||At31 March2020|11,485,461|311,740|11,797,201| |||||Other| |||||loans| |||||£| ||At 1 April 2020|||900,000| ||Newinyear|||56,250| ||Repayments in year|||(100,000)| ||Convertedto equity|||(450,000)| ||At31 March2021|||406,250| ## ## |**INVESTMENT PROPERTY**|| |---|---| ||£| |**FAIR VALUE**|| |At 1 April 2020|362,500| |Revaluation|93,381| |At31 March2021|455,881| ||--| |**NET BOOK VALUE**|| |At31 March2021|455,881| |At31 March2020|362,500| ## ||31.3.21|31.3.20| |---|---|---| ||£|£| |Otherdebtors|18,750|129,916| |**CREDITORS: AMOUNTS FALLING DUE **|**WITHIN ONE YEAR**||| |---|---|---|---| |||31.3.21|31.3.20| |||£|£| |Tradecreditors|||182| |Othercreditors||45,750|49,802| |||45,750|49,984| |**MOVEMENT IN FUNDS**|||| |||Net|| |||movement|At| ||At 1.4.20|infunds|31.3.21| ||£|£|£| |**Unrestricted funds**|||| |General fund|14,535,676|1,828,393|16,364,069| |**TOTAL FUNDS**|14,535,676|1,828,393|16,364,069| ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|infunds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|481,096|(737,524)|2,084,821|1,828,393| |**TOTAL FUNDS**|481,096|(737,524)|2,084,821|1,828,393| |**Comparatives for movement in funds**||||| ||||Net|| ||||movement|At| |||At 1.4.19|infunds|31.3.20| |||£|£|£| |**Unrestricted funds**||||| |General fund||16,813,638|(2,277,962)|14,535,676| |**TOTAL FUNDS**||16,813,638|(2,277,962)|14,535,676| ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|infunds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|796,681|(679,536)|(2,395,107)|(2,277,962)| |**TOTAL FUNDS**|796,681|(679,536)|(2,395,107)|(2,277,962)| ## |||Net|| |---|---|---|---| |||movement|At| ||At 1.4.19|in funds|31.3.21| ||£|£|£| |**Unrestricted funds**|||| |General fund|16,813,638|(449,569)|16,364,069| |**TOTAL FUNDS**|16,813,638|(449,569)|16,364,069| ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|infunds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|1,277,777|(1,417,060)|(310,286)|(449,569)| |**TOTAL FUNDS**|1,277,777|(1,417,060)|(310,286)|(449,569)| ## |**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2021**||| |---|---|---| ||31.3.21|31.3.20| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Investment income**||| |Rents receivable|22,500|25,500| |Investment income receivable|413,096|637,189| |Deposit account interest|657|1,723| |Other interestreceived|44,843|132,269| ||481,096|796,681| |**Total incoming resources**|481,096|796,681| |**EXPENDITURE**||| |**Investment management costs**||| |Portfolio management|37,840|44,892| |Bank interest|49|144| ||--|| ||37,889|45,036| |**Charitable activities**||| |Grants to institutions|691,608|625,680| |**Support costs**||| |**Management**||| |Travel costs||489| |**Governance costs**||| |Auditors' remuneration|4,775|4,628| |Sundries|372|346| |Accountancy and professional|2,880|3,357| ||8,027|8,331| |Totalresources expended|737,524|679,536| |**Net (expenditure)/income before gains and**||| |**losses**|(256,428)|117,145| |**Realised recognised gains and losses**||| |Realised gains/(losses) on fixed asset investments|187,117|96,073| |**Net (expenditure)/income**|(69,311)|213,218|