2023-08-31-accounts - The Garwood Foundation

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Reference and Administrative	Information
Trustees' Report		2 —8
Auditor's Report		9-14
Consolidated Statements of	Financial Activities	15
Consolidated Balance Sheet		16
Consolidated Cash Flow Statement		17
Notes to the Financial Statements		18-27

Reference and administrative information	Reference and administrative information	Reference and administrative information	Reference and administrative information	Reference and administrative information
Company	number	01285858
Charity number		272905
Registered	office	1a Melville Avenue, South Croydon, Surrey,				CR2	7HZ
Trustees		Trustees, who are		also directors under company			law, who served during the
		year and up to the date ofthis report were				as follows:
		F Newton		Chairman
		I Trumper		Treasurer
		R Bateman
		J Sanders
		G Merdick
		K Minear
		M Thapar		(Resigned September		2023)
		R Oakes
Company	secretary	VSandlan
Key management		R White		Chief Executive Officer
personnel		S Bance		Head ofRutherford	School
		K Mechergui		Manager of Bramley		Hill Day Centre
		Y Gordon		Manager ofJean Garwood			House Care Home
		LSkelton		HR Manager
		VSandlan		Finance Manager
Bankers		HSBC, 9Wellesley		Road, Croydon, CR9 2AA
		Barclays, 1North		End, Croydon, CR9 1RN
Auditor		Bryden Johnson	Limited, 1-4 Kings Parade,
		Lower Coombe Street, Croydon, CRO 1AA

					Unrestricted	Designated	Restricted	Total	Notes
					Funds	Funds	Funds	Funds		2022
Income lk Endowments	from:
Grants, Donations	&Legaoes				54,425		31,866	86,291		227,749
Facilities and shop	income				311,785			311,785		329,445
Investments: interest, dividends,				rents	16,326			16,326		20,448
Income from charitable		activities			2,654,265			2,654,265		2,305,172
Total					3,036,801		31,866	3,068,667		2,882,814
Expenditure on:
Raising Funds					184,012	5,580		189,592	10	204,387
Charitable activities					2,598,056		53,655	2,651,711	11	2,693,785
Total					2,782,068	5,580	53,655	2,841,303		2,898,172
Net Income/(Expenditure)	before gains and losses				254,733	(5,580)	(21,789)	227,364		(15,358)
on investment assets
Gain/(Loss) on investment assets;
Realised Gain/(Loss) /
Unrealised Gain/(Loss)					3,006			3,006	4	77,135
Total					3,006			3,006		77,135
Net Income/(Expenditure)					257,739	(5,580)	(21,789)	230,370		61,777
Transfers
Gross transfers between		funds			35,990	98,626	(134,616)
Net incoming resources		before other
recognised gains and losses					293,729	93,046	(156,405)	230,370		61,777
Net movement			in funds		293,729	93,046	(156,405)	230,370		61,777
Reconciliation of Funds
Total funds brought	forward				3,706,642	122,737	264,585	4,093,964		4,032,187
Total	Funds carried			forward	4,000,371	215,783	108,180	4,324,334		4,093,964

							Group		Charity	Charity
							2023	2022	2023	2022
						Notes	Total	Prior year	Total	Prior year
							Funds	total funds	Funds	total funds
							E	E	E	E
Fixed Assets
Tangible	assets						2,950,599	2,922,056	2,950,599	2,922,056
Investments							918,313	915,307	918,315	915,309
	Total Fixed Assets						3,868,912	3,837,363	3,868,914	3,837,365
Current Assets
Debtors						5	576,433	149,088	704,365	327,558
Cash at	bank and in hand						599,642	668,520	467,288	485,748
	Total Current Assets						1,176,075	817,6DB	1,171,653	813,306
Liabilities:
Creditors	falling due within	1	year			6	72D,652	561,0D7	716,233	556,707
	Net Current Assets						455,422	256,601	455,420	256,599
	Total assets less current			liabilities			4,324,334	4,093,964	4,324,334	4,093,964
	Net Assets Includmg		Pension		Liability		4,324,334	4,093,964	4,324,334	4,093,964
Funds ofthe Foundation
Unrestricted Income Funds						15	4,000,371	3,706,642	4,000,371	3,706,642
Designated Income Funds						15	215,783	122,737	215,783	122,737
Restricted Income Funds						15	108,180	264,585	108,180	264,585
Total Foundation Funds							4,324,334	4,093,964	4,324,334	4,093,964

				2023	2022
				E	6
Net Cash Used in operating	activities (note		20)	6,647	128,753
Cash Flows from investing	activities
Investment income				16,326	20,448
Proceeds from disposal of	Fixed	Assets		14,500
Purchase of Fixed Assets				(106,351)	(96,109)
Cash Provided by (used in) investing activities				(75.525)	(75,661)
Increase (decrease) in cash and		cash equivalents
end ofthe period				(68,878)	53,092
Cash and cash equivalents	atthe	beginning	ofthe period	668,520	615,428
Total cash and cash equivalents		at the end	ofthe period	599642	668,520
Held as:
Cash at bank and in hand				599,642	668,520
Total cash and cash equivalents		atthe end	ofthe period	599,642	668,520

	E287were paid to 2 trustees m the year (20	2?E331).	No director h	as any be	neficial in	terest in any cont	ract w th the F	oundation
3	TANGIBLE ASSETS-GROUP AND CHARITY
			Freehold	Property	Unde	Leasehold	Motor	Plant and	Total
			Property	Construction		Property	Vehicles	Equipment
						Rongl
						E	6	E
	COST
	At 1September 2022		2,632,737		83,187	583,649	323,301	623,401	4,246,275
	Additions in year				97,708			8,643	106,351
	Disposals m year						I84,309)		(84,309)
	At 31August 2023		2,632,737	180895		583649	238992	632 044	4 268 317
	DEPRECIATION
	At 1September 2022		40,660			464,493	285,341	533.725	1,324,219
	Charge for the year					22,385	16,123	27,575	66,083
	Dispo sale in year						(72,584)		(72,584)
	At 31August 2023		40 660			486,878	228,88D	561.3DO	1317718
	NET BOOK VALUE
	At 31August 2023		2,592,077	18D,fl95		96.771	10.112	70.744	2.950.599
	At 31August 2022		2 592077		83187	119156	37,960	89676	2922,056
	AR ofthe abave assets are used for chantable	purposes.

The Property Under Construction	The Property Under Construction		represents	represents	the capitatised	costs relating to the "Capital Prelect", as referred	costs relating to the "Capital Prelect", as referred	to in the Trustees Report,	to in the Trustees Report,	to in the Trustees Report,
As at the balance sheet date, the			capitalis	d	costs were professional	fees that had b en incurred	m the design	ofthe building	and	in submitting
planmng applications to the Local			Authonty
INVESTMENTS
									2023		2022
									E		E
Quoted mvestments:
Mid market value I September		Z022/ 2021							315,307		338,172
Investments additions
I vestments disposals
Realised gam on investments	sold
Un res l is ed ga in / (loss)									3,006		(22,865)
Mid market vain 31 August	2023/2022								318,313		315,307
Investment property:
Market value 1September	20ZZ	/	2021						600,00D		500,DOO
Unrealised gain											10D,000
Market value 31August 2023/ 2022									600,000		600,000
Total I vestments									918	313	915,307

5	DEBTORS									Group	Charity		Group	Chanty
										2023	2D23		2022	2022
										1	6		E	E
	School Sees in	respect ol		Autumn			Term 2D23 and other charitable		fees receivable	519,59D	519,590		63,031	63,031
	Other debters	and prepayments								56843	184775		86057	264 527
										576433	704 365		149088	327 558
6	CREDITORS (due within			one	year/					Group	Chanty		Group	Charity
										2023	2023		2022	2022
										E	E		E	1
	Tax and social	secunty credaors								45,123	45,123		38,075	38,075
	Deferred Income									605,692	605,692		446,723	446,723
	Dther creditors &accruals									69837	65418		76209	71909
										720,652	716233		5610D7	556 707
	Deferred income represents				cash		received ordebtors	recognised	in respect ofchantable	activities to be	undertaken	in	future periods.
7	INCOME FROM GRANTS,			DONATIONS & LEGACIES						Unrestncted	Restricterl		2023	2D22
										Funds	Funds		Tote I	Total
										6	6		E	E
	Donations Ik legacies									54,425	31,866		86,291	81,122
	Grants													146.627
										54,425	31,ft66			227 749
	Included within	individual		dona		tions is an amount of		E24 630(2022:Elo lnl6) in respect		of legs pcs
8	OTHER TRADING ACTIVITIES									Unrestncted	Restncted		2023	2022
										Funds	Funds		Total	Total
										E	E		E	E
	Hire of Facglties									101,447			101,447	125,080
	5ales Receipts	Subsidiary		Company			(Charity Shops)			210 338			210338	204365
										311785			311.785	329445
9	INCOME FROM CHARITABLE				ACTIVITIES
										Unrestricted	Restricted		2023	2022
										Funds	Funds		Total	Total
										1	E		E	1
	Bramley Hill Centre									415,118			415,118	390,026
	lean Garwood	House								643,720			643,720	536,237
	Rutherford School									1595427			1595427	1378909
										2 654 265			2 654 265	23D5 172
10	COSTS OF RAISING FUNDS									Unrestricted	Restricted		2023	2022
										Funds	Funds		Total	Total
										E	1		3	E
	Direct staff and	administration				ofchanty shops				164,01.2			164,012	154,165
	Direct staff and	administration				casts ofAppeals Department				20,000			20,00D	24,706
	Outsourced fundraising		(capital			project)				5580			5 58D	25516
										189592			189592	204387
11	ERFENDITUREoN cHARITABLE					AcTIYITIEs (including		aBocatlon	ofsupport costs(
										Unrestncted	Restricted		2023	2022
										Funds	Funds		Total	Total
										E	E			E
	Bramley Hill Centre									427,045	25,278		452,323	452,608
	lean Garwood	House								680,480			680,480	632,899
	Rutherford School									1.490.531	28 377		1,518,9IN	L,MIL273
										2.398.056	53,655		2,651.711	2;SM785

						NOTES TO THE CONSOLIDATED	NOTES TO THE CONSOLIDATED	NOTES TO THE CONSOLIDATED	NOTES TO THE CONSOLIDATED	NOTES TO THE CONSOLIDATED	NOTES TO THE CONSOLIDATED	NOTES TO THE CONSOLIDATED	FINANCIAL STATEMENTS (continued)	FINANCIAL STATEMENTS (continued)	FINANCIAL STATEMENTS (continued)
											Forthe year ended 31stAugust 2023
12	SUPPORT COSTS (Included				In Note 11)
															lean
														Bramley Hill	Garwood			Rutherford
														Centre	House			School			Tote I
																					2023
														5		8		5			8
	Administration			Staff Costs										51,673		51,673		51,673			155,019
	Information		Technology											1,108		1,108		1,108			3,325
	6overnance		Costs											4,078		4,078		4,D78			12,234
	Caravan	Depreciation & Expenses												(1,000)		IR000)		(1,DOO)			f3,0IXI)
	Other costs													857		857			II57		2 $71
	Total Support			Costs for the year ended 31stAugust 2023:										56716		56716		56	716		1/0.149
	TotalSupport			Costs for the penod ended		31st		August	2022:					$7333		$7333		57	333		171999
	Support	costs		are allocated	to operating units			in equal		proportions.
13	STAFF COST$
														Group	Charity			Group		Charity
	These costs are included in 'Costs of raising						funds" and							2023	2023			2022			2022
	"Expenditure			on chantable	activities" and	consist of.								8		8		8
					Sa lanes and wages									1,799,606	1,717,381			1,702,780			1,625,864
					Social security	costs								153,690		149,342		144,52$			139,244
					Pension costs									46,231		44,539		47,012			45,379
														1999527	1	911262		1394317			1,810,487
	During	the year one employee recewed a				settlement			payment.			The total	«oat was 17,568.Further, two		employees		received redundancy			payments
	relating	to the		closure of one shop, totalling			17,266
	Included	in sa		lanes and pension costs above are employee							and	employer	contdibutions	he spa ctw el y) to	the dahn ed contribution
	pension	schemes refer ed			to in Acmunting		Policies (Note				li).
														6roup	Chanty			Group		Chanty
	The estimated			average number ofemployees:										2023	2023			2022			2022
														Number	Number			Number		Number
					Direct charitable		activities							66		66		64			64
					Direct staff and administration						of charity shops			5				5
					Manageme t and administration									6				9
					Appeals									1				1
														78		73		79			74
	Two members			ofstaff received emoluments,			including			benefits		in kind and pensi on contnbutions, in the			range	E70	000	to 8800(0per		annum	(2022:
	two members			ofstaff received emoluments			in	the range E60000to170000).

NET INCOME / EXPENDITURE FOR THE YEAR	NET INCOME / EXPENDITURE FOR THE YEAR			2023	2022
				4	8
This is stated after charging the fo0owing
Depreciation				66,083	75,598
Operating lease payments	recognised as an expense			37,428	34,583
Auditors Remuneration -	audit ofthese financial statements			9,840	6,500
Auditors Remuneration	other services (audit ofsubsidiary,	mterim accounts, advismg	generagy)	2 394	3,458

										Balance		Movement	in	resources	resources				Balance
										02-Sep-M		Incoming		Outgoi g		Transfers			31-Aug-23
										6		1			6	E			E
										3,706,642		3039807		(2 782 068)		35,990			4000.371
										122737					(5580)	98,626			215783
Funds
RS Donations	& Legspcs									20,919		2,958			(23,877)
IGH Donations &Legacies
BH Donations	!LLegacies									4,55D		23,908			(25,278)				3,180
ITAdmin Expenditure										4,50D					(4,5DD)
Hydrotherapy	Poo	I (Cap ilal Prol em)								198,626		S,DOO				(98,626)			105,0DO
Minibus Fund										35,990						(35,990)
										264585		M 866			5&655)	()34.616)			109.180
Tote I										4093964		3071673			2 841,303				4 444,334
Comparative	mavements		in funds.
										Balance		Movement	in resources:						Bala ce
									01-Sep-21			In«ommg		Outgomg		Transfers			31-Aug-22
										E		E			E	6			E
Unrestncted	Funds									3,720,232		2,755,327		(2,727,664)		(42,253)			3,706,642
Designated Funds										107,000					i25,516)	41,253			122,737
Restricted Funds										204,955		204 622			(144 992)				264,585
Total										4,032.1SY		2,959,949		(2,898A72)					I.093,964
Description of Designated			and Restricted		Funds
				Unrestricted			funds designated				for the Capital		Project. The balance compnses					a E148,253
Designated Fund				I	egary received				in a previous		account mg pened			less	631096expenditure mcorred todate.
				Additionally,				unrestricted do			ations ofE98626			received in a previous year			have		been
				t	ansferred		to the designated				fund.
RS Donations	&Legacies:			Donations		and legaoes restncted						for the benefit		of	Itutherford	School.
IGH Do ations & Legacies:				Donations		and legapes restncted						fo the benefit		of	lean Garwood House.
BH Donations	& L	gacies.		Donations		and legau s estrkted						for the benefit		of	Braml y HEI.
IT Admin Expenditure:				Donations		restricted to cover					costs of IT ape nditure
~ydroth crap y	Pool	(Capital Protect)		Donations		received restncted					to	cover costs	of construrtion of			the Hydrotherapy			Poof (pak
				olthe 'Capital Project")
Minibus Fund				Donations		and legacies rest icted for the purchase ofminibuses										Amaunts	received have
				been fully utili				sad		far the pu	chase of minibu		see in previous periods and therefore the fund
				balance has			bee			transferred	to	unrestncted	funds.

ANALYSIS OF	NET ASSET5 B	ETWEEN FUNDS AS AT32	ETWEEN FUNDS AS AT32	AUGUST 2023
		Tangible Fix d Assets		Investments	Debtors	Cash	Creditors	Net Assets
Unrestncled			2,845,599	918,313	576,433	380,679	(720,652)	4,000,371
Designated						215,783		215,783
BH Donations	&Legaoes					3,180		3,180
Hydrotherapy	Pool (Capital	Project)	LDVIBD					SOIS,000
Total			2,950,599	91tL,313	576,433	599642	(720,651	4.324.334
Comparative	analysis of net	assets between	funds as at 31August 2022
		Tangible Fixed Assets		Investments	Debtors	Cash	Creditors	Nel Assets
			1	E
Unrestncted			2,781,960	792,570	149,088	544,031	(561,007)	3,706,642
Dengnated				122,737				122,737
RS Donations	IL Legades		20,919					20,919
BH Donations	A Legaoes					4,550		4,550
IT Admin Expenditor						4,500		4,500
Hydrotherapy	Pool (Capital	Prolect)	83,187			115,439		198,626
Mmibus Fund			35990					3S990
Total			2,922,056	915.307	149.088	668.520	i561,007(	4,0939M

			Unrestricted	Designated	Restricted	Total
			Funds	Funds	Funds	Funds	2022
Income &Endowments from:
Grants, Donations &Legacies			54,425		31,866	86,291	227,749
Donation from Trading Subsidiary			46,326			46,326	50,203
Other Trading Activities			101,447			101,447	125,080
Investments. interest, dividends, rents			16,326			16,326	20,445
Income from charitable	activities		2,654,265			2,654,265	2,305,172
Total			2,872,789		31,866	2,904,655	2,728,649
Expenditure on:
Raising Funds			20,000	5,580		25,580	50,222
Charitable activities			2,598,056		53,655	2,651,711	2,693,785
Total			2,618,056	5,580	53,655	2,677,291	2,744,007
Net income/(Expenditurel before gains and losses			254,733	(5,580)	(21,789)	227,364	(15,358)
on investment assets
Gain/Loss on mvestment assets
Realised Gain/(Loss)
Unrealised Gain/ILoss)			3,006			3,006	77,135
Total			3,006			3,006	77,135
Net Income/(Expenditure)			257,739	(5,580)	(21,789)	230,370	61,777
Transfers
Gross transfers between	funds		35,990	98,626	(134,616)
Net incoming resources	before other
recognised gams and losses			293,729	93046	(156,405)	230,370	61,777
Net movement		in funds	293,729	93,046	(156,4051	230,370	61,777
Reconciliation of Funds
Total funds brought forward			3,706,642	122,737	264,585	4,093,964	4,032,187
Total Funds carried forward			4,000,371	215783	108,180	4,324,334	4,093,964