Charity Registration No. 261963 THE GOODENOUGH CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 THE GOODENOUGH CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrGHWGriffith Mrs E A Moijntford Ide¢eased 17 Ma￿h 20241 Mr M R G Painter Miss J M Bolton {formally appointed 27 May 20241 Charlty Number 261963 Indopendent examin•r Julie Lickorish B A (Honsl ACMA JAL Accountancy Ser¥b￿s 41 Imham Road Sutton Coldfield West Midlands B74 2TQ Investment advisors Bre￿n Dolphin Ltd 9 Colfflore Row Birmingham B3 2BJ THE GOODENOUGH CHARITABLE TRUST CONTENTS Pag• Trustees. Excepb"onal report Trustees, report Independent examinels report Statement of financial xb"vibes Balance sheet Notes to the financial statements THE GOODENOUGH CHARITABLE TRUST TRUSTEES. EXCEPTIONAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 It is with great sadness that I have to report the sad passing of our Ttustee, Elaine Mounfford, on 17 March 2024. Elaine was a staNvart of The Goodencwh Charital)le Trust and She Wbll t truly missed. The Trustee's had accepted Elaine's resignation * the meekn.ng held on 6 March 2024 because of her failing health and also at this same meetsng had agreed to apF()int Jessica Bolton as a Trustee. rustees, exce onal rt vrds app ed by the Board of Trustees. MrGHWG' Datsd........ THE GOODENOUGH CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The tNstees present their and financial statements for the year ended 5 April 2024. The financial statements have been pTrpared in accordance wrth the xcounts.ng policies set out in note 110 the financial statements and comply with the Charivs goveming dccument. the Charib'es Act 2011 and Accounting and Reporting by charib.es Statement of Recommended PraCts￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffethve 1 January 2019)" Objectives and activities The Charity's objects are to disburse the income re￿Ve￿ by the chantable tru$t from rfs investsments, to other charitable organisalions and goc*J causes in accordance ￿th the trust established by Mrs N F M Broom during her lrfetime. The policies adopted in furtherance of these objects are for the tnjstees to hokl meetr.ngs Iwice a year, actual or virtual at the present time, wth the purpose of all¢x*"ng all available income for distribution and there has no change in these during the year. The trustees a150 make interim distributsons at their discreb"on. The Iruslees have paid due regard to guidan￿ issued by the Charity Commission in deciding what actsvities the Charity should undertake. The charity does not cary on any ath"vibes itself but instead makes grants to other charitable institub.ons wthin the guidelines laid down by Mrs N F M Broom during her lifetime. Achievements and porfomiance All of the net income received in the year is normally distn"buted via grants to other ¢hantable institutions or is held pending distribub.on in the folithmng ffinanoal year. Flnanclal revlew The results of the charitsble trust are induded in the statement of financial activitses, on page 5 of the accounts. The trustees have assessed the major risks lo vthich the Charity is exposed. and are satisfied that systems are in place to mibgate exposure to the major risks and accordingly have in$tru¢ted the Investment Managers who control all of the funds held by the Charitsble Trust. Stru¢ture, governance and management The Chanty was established by a charitable trust deed on 17th Novemter 1970. The trustees who served during the year and up to the (late of SgnatU￿ of the financial statements were.. Mr G H W Griffith Mrs E A Mounttord (Resigned on 6 Mar¢h 2024, passed away on 17 March 2024) Mr M R G Painter Miss J M Bolton Iformally appointed by t)eed of App)intment dated on 27 May 2024) New trustees are appointed by mutual agreement of the exisbng trustees. THE GOODENOUGH CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 There are three trustees all of which have to cOUnter￿n any cheques issued. The charitable trust had no related paty transactions during the year. As specified by Mrs N.F.M. Br￿m, the former Life Tenan( all professi¢)nal Costs are to be charged against the Capitsl Fund of the Chantable TrusL The $tees' ￿pOrt was approved by the Board of Trustees on 20 September 2024 MrGHWG' Dated...... 1471 THE GOODENOUGH CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GOODENOUGH CHARITABLE TRUST I report to the trustees on my examination of the financhgl sLqtements of The Goodenough Charitab Trust (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 financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in iespect of my examination of the Charitys financial stalements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicab18 Directions gNen by the Charity Commission under section 14515){bl of the 2011 Act. Independent examiner's $tstsment Your attention is drawn to the fact that the eharity has p￿Pared financial statements in accordance with Accounting and Reporting by Chai¢lies preparing their accounts in a¢¢ordance wrth the Financial Reporting Standard applicable in the UK and Republ￿ of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities." Ststement of Recommended Pract￿ issued on 1 April 2005 which is referred to in the extant regULat￿n$ bul has now been withdrawn. l understand that this has been done in order for financial statements to provide a tNe and fair vivw in accordance wrth Generally Accepted Accounts"ng Practice effectNe for ￿[0rbn9 perityjs beginning on or after 1 January 2015. I have completed my examination. I confimi thal no matters have come to my attention in connection wrth the examinalion giving me cause to believe that in any matsrial respecL . accounting records were not kept in resFeCt of the Charity as wuired by sectK)n 130 of ihe 2011 Act.. or 2. the financial statements do not accord with Ihose records: or 3. the financial statements do not comply wrth the applicable requirements con¢eming the form and conlenl of accounts set out in the Charibes Act (Accounts and Reports) Regulalions 2008 other than any requirement that the accounts give a true and fair We•V which 1$ not a matter Considered as part of an independent examination. I have no concems and have Come across no other matters in connectK>n with the examination lo which attention should be drawn in this rerKIrt in order to enable a proper understanding of the financial statements to be reached. Julie Lickorish JAL Accounlancy Services 41 Irnham Road Sutton Coldfield West Midlands B74 2TQ THE GOODENOUGH CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Bank & Capttal income funds funds 2024 2024 T¢)tal Bank & Capltal incomg funds funds 2023 2023 Total 2024 2023 Notes Income from: Investrnents 5C613 50613 49617 49617 Other income Total Income 5C613 50613 49617 49617 Expenditure on: Raising funds 8251 8251 7027 7027 Charitable activities 29998 29998 56100 56100 Governance costs 3680 4600 4600 Total resources expended 29998 11931 41929 56100 11627 67727 Add Nel gainslllossesl on investment5 40529 40529 49878 49878 Net movement In funds 20615 28598 49213 483 41505 47988 Fund balances al 6 April 2023 Adjustments beh¥een income and caprtal accounts 6815 1194438 1201253 11698 1257543 1269241 270 -270 1600 -1600 Fund balances at 5 April 2024 27700 1222766 1250466 6815 1194438 1201253 The stalemenl of financial aCtiV￿e5 includes all gains and losses recA)gnised in the year. All income and expenditure derive from continuing activthes. THE GOODENOUGH CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Fixed assots Investment Portfolio per Brewin Dolphin as at 5 April 2024 Capital Cash Attount per Brewin Dolphin as at 5 April 2024 1221969 797 1193172 1266 1222766 1194438 Current assets Capit81 Income Account Cash at bank Nalwest 27700 27700 6815 6815 Creditors amounts falling due within one year Net current assets 27700 6815 Total assets l•ss ¢urrgnt liabilltles 1250466 1201253 Capital funds Trust Capital Account Capital Income Account 1221969 797 1193172 1266 1222766 1194438 Income funds Cash al bank Natwesl 27700 1250466 6815 1201253 The financial statements were approved by the Trustees on ..l..i.l. % J. Lc.knr........ .. MrGHWGriffith Trustee THE GOODENOUGH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 1 Accountlng pollcles Charity information The Goodenough Charitable Trust 1$ an unineorwrated charity registered by trust deed dated 17th November 1970. 1.1 Accounting convention The financial statements have been prepared in axordance with the Charity's Trust Deed, the Charities Act 2011 and "Accounting and Rep)rtt"ng by Charib"es". Statement of Recommended Practice applicable to charibes preparing their aCt￿unts in accordance with the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 {effects"ve 1 January 20191" The Charity is Public 8enefit Entity as deffined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bullebn 1 not to prepare a Statement of Cash Flo%*E. The financial statements have departed from the charitr.es (Accounts and Reports) Regulab"on$ 2008 only lo the extent required to Pfovide a true and fair view. This departure has involved following the Statement of Recommended Practs'ce for charity.es applying FRS 102 rather than the vetsion of the Statement of Re¢ommended Pracb'ce which is refeffed to in the Regulatsons but whith has since been withdrawn. The financial statements are prepared in slerfing. which is the fundional eurren¢y of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The finan¢ial Statements have been prepared under the historical cost convents"on. and the fixed assets consist of an Investment portfolio managed by Brewn l)olphin Ltd and cash. The principal accounb.ng policies adopted are set ovl bel(Thl. 1.2 Golng concem At the time of approving the financial statements. the trustees have a reasonable expectstion that the Charity has adequate resources lo continue in operabonal existen* for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounb.ng in preparing the financial statements. 1.3 Charltable funds All funds are available for use at the discrets.on of Ihe trustees in furtherance of their charitable objectives. The Capital Fund was estsblished and is maintained in a¢cordance tr*e onginal Trust Deed. Investment management fees and govemance costs are allrxated to the Caprtal Fund in accordance with the Trust Deed. 1A lTr¢ome All income is recognised by the charity on receipt of the monthly income managed by Brewn Dolphin Ltd. THE GOODENOUGH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 1 Accountlng polkles {Contlnued} 1.5 Expenditure Al expenditure is accounted for on an accruals basis. Grants payable are payments to third parb'es in the furtherance of the charitable objects of the Trust. 1.6 Flxad asset Inv•stments The investment portfolio value, as managed by Brewn Dolphin Ltd, charues in fair value a5 recognised in net incomellexpendrturel for the year. TranSacil￿ costs are expensed as incurred and charged to capitsl. 1.7 Cash and cash equivalents Cash and cash equivalents indude cash in hand and dep)srts held at call ￿ banks. 1.8 Finincial instruments The Charity has elected lo apply the provisions of Section 11 'Bawc Finanoal Instruments, and Sects'on 12 '0ther Finanual Instrument$ Issues. of FRS 102 to all of its finanoal instruments. Baslc financlal assets Basic financial assets. vthith indude cash aTrJ bank balan￿ values are stated as at the erKI of tr* finanaal year. Basic financial liabilities 88sic fin8nc¢al liabilitses. induding creditors are stsled as at the end of the finanual year. The arrangement constitutes a financing transaction. %thre the debt instrument is measured al the present value of the future receipts discounted at a market rate of interest. Financial liabilits'es elassified as payable %Mthin one year a￿ am0￿"sed. 2 Investments Bank & Income funds 2024 8ank & Income funds 2023 Income from listed investments 50.613 49.617 3 Ralsing Funds 2024 2023 Investrnenl mangement fees paid from the Caprtal Fund 8.251 7.027 4 Charitable Ictbvltles Grant making 2024 Grant making 2023 Grant funding of activtbes Isee note 51 Drama Link retum of donations made in earfier yea 29,998 59,350 -3,250 56,100 29,998 THE GOODENOUGH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 S Grants payable Grdnt making 2024 Grnnt making 2023 Grants to Charitable insbtubons (28 grants) 29,998 59.350 Please notè that thè F•bruary 2024 distribution was delayed until May 2024 because of th$ death of the Trustee Elaine Mout)tford. This disthbution will rK¥w be induded in the Accourts for the year ending 5 April 2025 6 G0￿Man¢* costs 2024 Govornanco 2023 Accountancy Trustee expenses 1.830 1,850 3,680 1.830 1,850 3.680 1,250 3,350 4.600 1.250 3,350 4.600 Accountancy includes £1,380 for independent examiners fees for 2023 {2022". £1,250) which wère paid in the year from capital. The independent examiner fees for 2024 be £1.530 and will be paid during 2024r25 from capital. 7 Trustees Trustees give freèly of thèirtime and expertise withoth reMuneral￿n. Expenses and sec¥etarial fe in the ye8r totalled £1.85012023." £3.3501. Please note these expenses are less than usual as some of the wo￿1 and charitable distr"bub"t>ns wets pausèd b￿ust of Elaine Mountford's ill heatth and will now be induded in the Accounts for the year ending 5 April 2025. Thes8 payments made are to cover accounting, secretarial administrative services #nd tr¥vd ¢x)sts. 8 Employees There were no employees during the year. 9 Capltsl In¢amè A¢¢ount The Caprtal income a¢ts)unt is held a$ part of Chartiable Trusys portfolio holdiThJ wth Brewn Dolphin Lld 11 Capital Account Adjustmerrts 8roker fees and Trustees expenses for 2024r25 wll be transferred during the year. The independent examiners fees are paid in the year of invoice in arrears.