| Page | |||
|---|---|---|---|
| Reportofthe Trustees | to | 4 | |
| ReportoftheIndependentAuditor | 5 | to | 7 |
| StatementofFinancialActivities | 8 | ||
| StatementofFinancialPosition | 9 | ||
| StatementofCashFlows | 10 | ||
| Notes tothe StatementofCashFlows | 11 | ||
| Notes totheFinancial Statements | 12 | to | 19 |
| Detailed StatementofFinancialActivities | 20 |
| Statement of Financial Activities for the Year Ended 31 March 2022 |
|||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Investment income | 2 | 582,995 | 481,096 |
| EXPENDITURE ON | |||
| Raising funds | 3 | 53,326 | 45,916 |
| Charitable activities | 4 | ||
| Charitable Donations | 563,881 | 691,608 | |
| Total | 617,207 | 737,524 | |
| Net gains on investments | 968,006 | 2,084,821 | |
| NET INCOME | 933,794 | 1,828,393 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 16,364,069 | 14,535,676 | |
| TOTAL FUNDS CARRIED FORWARD | 17,297,863 | 16,364,069 |
| Statement of Financial Position 31 March 2022 |
||||
|---|---|---|---|---|
| 31.3.22 | 31.3.21 | |||
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | £ | £ | ||
| FIXED ASSETS | ||||
| Investments | ||||
| Investments | 9 | 15,665,306 | 14,078,218 | |
| Investmentproperty | 10 | 445,490 | 455,881 | |
| 16,110,796 | 14,534,099 | |||
| CURRENT ASSETS | ||||
| Debtors | 11 | 76,412 | 18,750 | |
| Cash at bank | 1,130,158 | 1,856,970 | ||
| 1,206,570 | 1,875,720 | |||
| CREDITORS | ||||
| Amountsfallingduewithinoneyear | 12 | (19,503) | (45,750) | |
| NET CURRENT ASSETS | 1,187,067 | 1,829,970 | ||
| .... | ||||
| TOTAL ASSETS LESS CURRENT | ||||
| LIABILITIES | 17,297,863 | 16,364,069 | ||
| NET ASSETS | 17,297,863 | 16,364,069 | ||
| FUNDS | 13 | |||
| Unrestrictedfunds | 17,297,863 | 16,364,069 | ||
| TOTALFUNDS | 17,297,863 | 16,364,069 |
| THE G C GIBSON CHARITABLE TRUST Statement of Cash Flows for the Year Ended 31 March 2022 |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| Notes | £ | £ |
| Cash flows from operating activities | ||
| Cashgeneratedfromoperations | (674,462) | (608,043) |
| Interestpaid | (96) | (49) |
| Netcashusedinoperatingactivities | (674,558) | (608,092) |
| Cash flows from investing activities | ||
| Purchaseoffixedasset investments | (2,031,810) | (2,340,516) |
| Saleoffixedasset investments | 1,320,686 | 2,457,189 |
| Interestreceived | 67,491 | 45,500 |
| Dividendsreceived | 489,504 | 413,096 |
| Netcash(used in)/provided byinvestingactivities | (154,129) | 575,269 |
| Cash flows from financing activities | ||
| New loans in year | (20,000) | (56,250) |
| Loanrepayments in year | 121,875 | 100,000 |
| Loanconvertedto equity | 450,000 | |
| Netcash providedbyfinancingactivities | 101,875 | 493,750 |
| Change in cash and cash equivalents in | ||
| the reporting period | (726,812) | 460,927 |
| Cash and cash equivalents at the | ||
| beginning of the reporting period | 1,856,970 | 1,396,043 |
| Cash and cash equivalents at the end of | ||
| the reporting period | 1,130,158 | 1,856,970 |
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| Net income for the reporting period (as per the Statement of Financial | ||
| Activities) | 933,794 | 1,828,393 |
| Adjustments for: | ||
| Gainoninvestments | (967,448) | (2,084,821) |
| Interestreceived | (67,491) | (45,500) |
| Interestpaid | 96 | 49 |
| Dividendsreceived | (489,504) | (413,096) |
| (Increase)/decrease indebtors | (57,662) | 111,166 |
| Decreaseincreditors | (26,247) | (4,234) |
| Net cash used in operations | (674,462) | (608,043) |
| At 1.4.21 | Cashflow | At31.3.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cashatbank | 1,856,970 | (726,812) | 1,130,158 |
| 1,856,970 | (726,812) | 1,130,158 | |
| Total | 1,856,970 | (726,812) | 1,130,158 |
| 2. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Rents receivable | 26,000 | 22,500 | |
| Investment income receivable | 489,504 | 413,096 | |
| Deposit account interest | 17 | 657 | |
| Other interest received | 67,474 | 44,843 | |
| 582,995 | 481,096 | ||
3. |
RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Support costs | 8,287 | 8,027 | |
| Investment management costs | |||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Portfolio management | 44,943 | 37,840 | |
| Interestpayable and similar charges | 96 | 49 | |
| 45,039 | 37,889 | ||
| Aggregate amounts | 53,326 | 45,916 | |
| 4. | CHARITABLE ACTIVITIES COSTS | ||
| Grant | |||
| funding of | |||
| activities | |||
| (see note | |||
| 5) | |||
| £ | |||
| Charitable Donations | 563,881 | ||
| 5. | GRANTS PAYABLE | ||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Charitable Donations | 563,881 | 691,608 |
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| Art, Music andEntertainment | 40,500 | 52,634 |
| HealthandMedicalResearch | 91,210 | 98,397 |
| Religion | 30,000 | 43,500 |
| NatureConservation | 49,000 | 78,000 |
| Civil Society | 224,171 | 261,567 |
| Education | 73,000 | 100,010 |
| Care | 41,000 | 42,500 |
| Hospice | 15,000 | 15,000 |
| 563,881 | 691,608 |
| Governance | |||||
|---|---|---|---|---|---|
| Management | costs | Totals | |||
| £ | £ | £ | |||
| Raisingdonations | and | legacies | 169 | 8,118 | 8,287 |
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 481,096 |
| EXPENDITURE ON | |
| Raisingfunds | 45,916 |
| Charitable activities | |
| CharitableDonations | 691,608 |
| Total | 737,524 |
| Netgains oninvestments | 2,084,821 |
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| NET INCOME | 1,828,393 | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 14,535,676 | |||
| TOTAL FUNDS CARRIED FORWARD | 16,364,069 | |||
| 9. | FIXED ASSET INVESTMENTS | |||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Shares | 15,110,931 | 13,671,968 | ||
| Loans | 554,375 | 406,250 | ||
| 15,665,306 | 14,078,218 | |||
| Additional informationasfollows: | ||||
| Listed | Unlisted | |||
| investments | investments | Totals | ||
| £ | £ | £ | ||
| MARKET VALUE | ||||
| At 1 April2021 | 13,393,389 | 875,582 | 14,268,971 | |
| Additions | 1,810,317 | 221,493 | 2,031,810 | |
| Disposals | (1,123,203) | (100,000) | (1,223,203) | |
| Reclassification/transfer | (250,000) | (250,000) | ||
| At31 March2022 | 14,080,503 | 747,075 | 14,827,578 | |
| PROVISIONS | ||||
| At 1 April2021 | 507,859 | 89,144 | 597,003 | |
| Revaluationadjustments | (908,381) | 28,025 | (880,356) | |
| At31 March2022 | (400,522) | 117,169 | (283,353) | |
| NET BOOK VALUE | ||||
| At31 March2022 | 14,481,025 | 629,906 | 15,110,931 | |
| At31 March2021 | 12,885,530 | 786,438 | 13,671,968 | |
| Other | ||||
| loans | ||||
| £ | ||||
| At 1 April2021 | 406,250 | |||
| Newin year | 20,000 | |||
| Repayments in year | (121,875) | |||
| Reclassifiedfromequity | 250,000 | |||
| At31 March2022 | 554,375 |
| INVESTMENT PROPERTY | |
|---|---|
| £ | |
| FAIR VALUE | |
| At 1 April2021 | 455,881 |
| Impairments | (10,391) |
| At31 March2022 | 445,490 |
| NET BOOK VALUE | |
| At31 March2022 | 445,490 |
| At31 March2021 | 455,881 |
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| Otherdebtors | 76,412 | 18,750 |
| 31.3.22 | 31.3.21 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other creditors | 19,503 | 45,750 | |||
| 13. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.4.21 | in funds | 31.3.22 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 16,364,069 | 933,794 | 17,297,863 | ||
| TOTAL FUNDS | 16,364,069 | 933,794 | 17,297,863 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Gains and | Movement | ||
| resources | expended | losses | in funds | ||
| £ | £ | £ | £ | ||
| Unrestricted funds | |||||
| General fund | 582,995 | (617,207) | 968,006 | 933,794 | |
| TOTAL FUNDS | 582,995 | (617,207) | 968,006 | 933,794 |
| Comparatives for movement in funds | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.4.20 | in funds | 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 | in funds | |
| £ | £ | £ | £ | |
| 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 |
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.20 | infunds | 31.3.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Generalfund | 14,535,676 | 2,762,187 | 17,297,863 |
| TOTAL FUNDS | 14,535,676 | 2,762,187 | 17,297,863 |
| A current year 12 months and prio asfollows: |
r year 12 months combined | net movement in | funds, included | in the above |
|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | infunds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| Generalfund | 1,064,091 | (1,354,731) | 3,052,827 | 2,762,187 |
| TOTAL FUNDS | 1,064,091 | (1,354,731) | 3,052,827 | 2,762,187 |
| THE G C GIBSON CHARITABLE TRUST Detailed Statement of Financial Activities for the Year Ended 31 March 2022 |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Rents receivable | 26,000 | 22,500 |
| Investment income receivable | 489,504 | 413,096 |
| Deposit account interest | 17 | 657 |
| Other interestreceived | 67,474 | 44,843 |
| 582,995 | 481,096 | |
| Total incoming resources | 582,995 | 481,096 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 44,943 | 37,840 |
| Bank interest | 96 | 49 |
| 45,039 | 37,889 | |
| Charitable activities | ||
| Grants to institutions | 563,881 | 691,608 |
| Support costs | ||
| Management | ||
| Travel costs | 169 | |
| Governance costs | ||
| Auditors' remuneration | 5,044 | 4,775 |
| Sundries | 194 | 372 |
| Accountancy and professional | 2,880 | 2,880 |
| 8,118 | 8,027 | |
| Total resources expended | 617,207 | 737,524 |
| Net expenditure before gains and losses | (34,212) | (256,428) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | 97,483 | 187,117 |
| Net income/(expenditure) | 63,271 | (69,311 ) |