## The Sir Robert Gooch Trust Charity Registration No. 264097 Trustees' report and unaudited accounts For the year ended 5 April 2024 ## The Sir Robert Gooch Trust ## Legal and administrative information |Trustees|Susan, Lady Gooch| |---|---| ||Lucinda Hutson MVO DL| ||Victoria Vere Nicoll| ||Charles Robert Gillett| |Charity number|264097| |Principal address|The Estate Ofce| ||Hall Farm| ||Benacre| ||Beccles| ||Sufolk| ||NR34 7LJ| |Accountants|Evelyn Partners LLP| ||Accountants| ||Old Library Chambers| ||21 Chipper Lane| ||Salisbury| ||Wiltshire| ||SP1 1BG| |Independent examiner|Julie Mutton FCA| ||CLA Evelyn Partners Limited| ||Chartered Accountants| ||Old Library Chambers| ||21 Chipper Lane| ||Salisbury| ||Wiltshire| ||SP1 1BG| |Bankers|Lloyds Banking Group| ||114-116 Colmore Row| ||Birmingham| ||B3 3BD| |Investment advisors|EFG Harris Allday| ||33 Great Charles Street| ||Birmingham| ||B3 3JN| ## The Sir Robert Gooch Trust ## Contents ||Page| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement offnancial activities|5| |Balance sheet|6| |Notes to the accounts|7 - 12| ## The Sir Robert Gooch Trust ## Trustees' report for the year ended 5 April 2024 The trustees present their report and accounts for the year ended 5 April 2024. The accounts comply with the Charities Act 2011 and 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) (e ff ective 1 January 2019). ## Objects and activities The objects of the charity are to make grants to any charities and for any charitable purpose as the trustees in their absolute discretion deem appropriate. The charity owns freehold properties, which were donated by Sir Robert Gooch in 1972. The properties produce rental income, which is distributed in accordance with the charitable objects of the charity and there has been no change in these during the year. Monies not required for the immediate purposes of the charity are invested in a bank deposit account. The charity also invests in the Charities Property Fund and a portfolio of shares is managed by EFG Harris Allday. Dividend and interest income produced by these investments is distributed in accordance with the charitable objects of the charity. ## _Investment policy_ The trustees have wide powers of investment and are investing for a balanced return. There are no restrictions on the trustees' power to invest the charity's unrestricted funds. ## _Public bene t_ The trustees have considered the guidance provided by the Charity Commission with regard to meeting the public bene fi t objective. As all donations are made to registered charities, or charitable entities that do not require to be registered with the Charity Commission, the trustees believe that The Sir Robert Gooch Trust is acting for the bene fi t of the public. ## Achievement, performance and fi nancial review ## _Grants_ Appeals coming to the notice of the trustees are considered and grants are awarded as the trustees deem appropriate. The total grants distributed by the trustees each year are generally intended to be in line with investment income received less any management and trustees' expenses for the year. The charity made 40 (2023: 42) grants to institutions across the sectors as detailed in note 3. These have been made in line with the charity's objects. ## _Results for the year_ The fi nancial activities are summarised on page 5 of the accounts. During the year, the trustees had a net surplus before gains and losses on investments of £244 (2023: £5,504 de fi cit) having made grants totalling £32,575 (2023: £30,025). During the year, there was minimal movement in the trust's investments. The trust's investment portfolio with EFG Harris Allday has decreased to £687,653 (2023: increased to £688,405). The Charities Property Fund has decreased to £117,701 (2023: increased to £124,681). - 1 - ## The Sir Robert Gooch Trust ## Trustees' report for the year ended 5 April 2024 ## _Reserves policy_ The charity aims to keep only a minimal level of free reserves, the majority of unrestricted funds of the charity being invested as detailed above to produce future income for distribution. Free reserves were maintained in accordance with this policy throughout the year. The trustees are con fi dent that the charity has su ffi cient reserves to enable them to meet fi nancial obligations as they fall due for the foreseeable future. ## Governance, structure and management ## _Governance_ The charity was established by a charitable trust deed on 1 May 1972 and is registered with the Charity Commission, number 264097. The trustees who served during the year and subsequently were: Susan, Lady Gooch Lucinda Hutson MVO DL Victoria Vere Nicoll Charles Robert Gillett New trustees are recruited, appointed, inducted and trained as the trustees feel appropriate. The charity is administrated and controlled by the Board of Trustees as a body. There is no single individual who can, or does, control the charity. ## _Structure_ The day to day administration of the charity is carried out by Mrs Lucinda Hutson MVO DL. The trustees run the charity and meet at least once a year to discuss the a ff airs of the charity. ## _Risk factors_ The trustees have reviewed the risks to the charity's assets and are satis fi ed that adequate controls are in place to mitigate these risks. The risks are reviewed on a regular basis. - 2 - ## The Sir Robert Gooch Trust ## Trustees' report for the year ended 5 April 2024 ## Trustees' responsibilities The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and regulations. The law applicable to charities in England and Wales requires the trustees to prepare accounts for each fi nancial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the trustees must not approve the accounts unless they are satis fi ed that they give a true and fair view of the state of a ff airs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these accounts, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which are su ffi cient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the fi nancial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the board of trustees ## Lucinda Hutson ......................................... ## Lucinda Hutson MVO DL Trustee > Date: 15 November 2024 - 3 - ## The Sir Robert Gooch Trust ## Independent examiner's report to the trustees of The Sir Robert Gooch Trust I report to the trustees on my examination of the accounts of The Sir Robert Gooch Trust for the year ended 5 April 2024 which comprise the statement of fi nancial activities, the balance sheet and the notes to the accounts, including a summary of signi fi cant accounting policies. ## Respective responsibilities of trustees and examiner and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("The Act"). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## Independent examiner's statement I have completed my examination. I con fi rm that no material 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 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 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. ## Julie Mutton ....................................... ## Julie Mutton ## Fellow of The Institute of Chartered Accountants in England & Wales CLA Evelyn Partners Limited Chartered Accountants Old Library Chambers 21 Chipper Lane Salisbury Wiltshire SP1 1BG 10 December 2024 Date: ....................................... - 4 - ## The Sir Robert Gooch Trust ## Statement of fi nancial activities for the year ended 5 April 2024 |Notes
Income:
Rental income
Investment income
2
Total income
Expenditure:
Raising funds
Charitable activities - grants
3
Charitable activities - support costs
Total expenditure
4
Net surplus/(defcit) before gains and losses on
investments
Net gain on investment properties
Net loss on investments
Net (loss)/income and movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward|2024
£
1,480
44,675
46,155
8,992
32,575
4,344
45,911
244
12,000
(20,439)
(8,195)
1,081,541
1,073,346|2023
£
11,279
26,974| |---|---|---| |||38,253| |||7,012
30,025
6,720| |||43,757| |||(5,504)
84,337
(51,299)| |||27,534
1,054,007| |||1,081,541| All income and expenditure derives from continuing activities. - 5 - ## The Sir Robert Gooch Trust ## Balance sheet as at 5 April 2024 |Notes
Fixed assets
Investment properties
7
Investments
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due
within one year
10
Net current assets
Total net assets
The funds of the charity:
Income funds
Unrestricted general fund
11
Unrestricted revaluation reserve
11
Total charity funds|£
3,029
65,155
68,184
(5,192)|2024
£
205,000
805,354
1,010,354
62,992
1,073,346
878,646
194,700
1,073,346|£
1,492
77,323
78,815
(3,360)|2023
£
193,000
813,086| |---|---|---|---|---| |||||1,006,086
75,455| |||||1,081,541| |||||898,841
182,700| |||||1,081,541| ## Trustees' approval 15 November 2024 Approved by the board of trustees on ................................... and signed on their behalf by: ## Lucinda Hutson ......................................... Lucinda Hutson MVO DL Trustee - 6 - ## The Sir Robert Gooch Trust ## Notes to the accounts for the year ended 5 April 2024 ## 1 Accounting policies ## 1.1 General information The Sir Robert Gooch Trust is an unincorporated charity, registered with the Charity Commission in England and Wales (No. 264097). The address of the registered o ffi ce is The Estate O ffi ce, Hall Farm, Benacre, Beccles, Su ff olk, NR34 7LJ. ## 1.2 Basis of preparation The accounts have been prepared under the historical cost convention with the exception of investments and freehold property which have been included at market value. The accounts have been prepared 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 (FRS102) (e ff ective 1 January 2019). The trustees con fi rm that the charity is a public bene fi t entity as de fi ned by FRS 102. The accounts are prepared on the going concern basis; there are no material uncertainties about the charity's ability to continue as a going concern. ## 1.3 Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objects of the charity and which have not been designated for other purposes. The charity has no restricted or endowment funds. ## 1.4 Income Investment and rental income is credited in the statement of fi nancial activities in the period in which it is receivable. Bank interest is included in the period in which it is received. ## 1.5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classi fi ed under the headings that aggregate all costs related to the category. Grants payable are payments made to third parties in furtherance of the charitable objects of the charity. The grants are accounted for where the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant. Support costs consist of costs not directly attributable to raising funds or charitable activities but which are in respect of the general administration of the charity and overall management of the funds. ## 1.6 Investment properties The trust owns freehold properties as investment property, which are included at market value. ## 1.7 Investments Fixed asset investments are stated at market value at the balance sheet date. Unrealised gains or losses are recognised in the statement of fi nancial activities. Realised gains are the di ff erence between disposal proceeds and carrying value and are recognised in the statement of fi nancial activities under gains and losses on investment assets. - 7 - ## The Sir Robert Gooch Trust ## Notes to the accounts for the year ended 5 April 2024 ## 2 Investment income |Income from quoted investment portfolio
Income from Charities Property Fund
Interest receivable
Grants payable
Grants to institutions 40 (2023: 42) grants:
Donations £1,000 or over
Donations £500 to £999
Donations under £500
Medical
Welfare and poverty relief
Religious
Education
Animal welfare
Environmental|2024
£
35,793
7,732
1,150
44,675
2024
£
21,000
11,550
25
32,575
16,500
14,050
25
-
2,000
-
32,575|2023
£
22,334
2,959
1,681| |---|---|---| |||26,974| |||2023
£
15,000
15,000
25| |||30,025| |||14,250
8,000
1,525
2,000
3,000
1,250| |||30,025| ## 3 Grants payable A list of recipients can be obtained by writing to the trustees at The Estate O ffi ce, Hall Farm, Benacre, Beccles, Sufolk, NR34 7LJ. - 8 - ## The Sir Robert Gooch Trust ## Notes to the accounts for the year ended 5 April 2024 |4
Expenditure
Charitable activities - grants
Grants payable (see note 3)
Raising funds
Insurance
Managing agent fees
Ofce wages recharged
Charitable activities - support costs
Governance costs
Accountancy and independent examination fee
Legal and professional fees|2024
£
32,575
375
7,842
775
4,344
-
45,911|2023
£
30,025
280
6,018
714
3,540
3,180| |---|---|---| |||43,757| ## 5 Trustees None of the trustees (or any persons connected with them) received any remuneration during the year nor any reimbursed expenses for the year (2023: nil). Charles Gillett is a director at Pennycuick Collins. Pennycuick Collins have provided services to the trust during the year. The total amount paid for those services is £201 (2023: £3,604). ## 6 Employees There were no employees during the year (2023 : nil). - 9 - ## The Sir Robert Gooch Trust ## Notes to the accounts for the year ended 5 April 2024 |7
Investment properties
At 6 April 2023
Revaluation
Market value at 5 April 2024|Freehold
property
£
193,000
12,000| |---|---| ||205,000| The investment properties comprise of : 17 - 24 Pickford Street, Birmingham 162 - 168 Gooch Street, Birmingham The historical cost of the properties is £10,300 (2023: £10,300). The properties were valued by the trustees in conjunction with Pennycuick Collins on 5 April 2024, having considered the reduction in the unexpired term of the long leases and the movement in the marketplace. - 10 - ## The Sir Robert Gooch Trust ## Notes to the accounts for the year ended 5 April 2024 ## 8 Fixed asset investments ||Quoted|Charities|Total| |---|---|---|---| ||investment|Property Fund|| ||portfolio||| ||£|£|£| |Market value at 6 April 2023|688,405|124,681|813,086| |Disposals at carrying value|(29,256)|-|(29,256)| |Acquisitions at cost|42,063|-|42,063| |Change in value in the year|(13,559)|(6,980)|(20,539)| |Market value at 5 April 2024|687,653|117,701|805,354| ||||Market value| ||||£| |Investments at market value comprised :|||| |Equities|||503,416| |Fixed interest securities|||184,237| |The Charities Property Fund|||117,701| ||||805,354| |Cash held within investment portfolio|||25,502| ||||830,856| |9
Debtors
Rents receivable
Dividend receivable
Prepayments|2024
£
1,375
1,557
97
3,029|2023
£
-
1,408
84| |---|---|---| |||1,492| - 11 - ## The Sir Robert Gooch Trust ## Notes to the accounts for the year ended 5 April 2024 |10
Creditors: amounts falling due within one year
Accountancy and independent examination fees
Deferred rental income
11
Statement of funds
Brought
Forward
Income
Expenditure
£
£
£
Unrestricted funds
General fund
898,841
46,155
(45,911)
Revaluation reserve
182,700
-
-
1,081,541
46,155
(45,911)|2024
2023
**£**
£
3,924
3,360
1,268
-
5,192
3,360
Valuation
gains and
losses
Balance at 5
April 2024
£
£
(20,439)
878,646
12,000
194,700
(8,439)
1,073,346|2023
£
3,360
-| |---|---|---| |||3,360| |||1,073,346| - 12 -