|||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 )|