REGISTERED CHARITY NUMBER: 286310 Re ort of the Trustees and Unaudiled Financial Statements for the Year Ended 31 March 2025 for Friends of Gunnersbu Park and Museum Freeman Carr Chartered Certified Accountanls The Gatehouse 2 Devonhursl Place Healhfield Terrace Chiswick London W4 4JD
Friends ol Gunnersbu Park and Museum Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activilies Balance Sheet Notes to the Financial Statements 7 10 11 Detalled Statement of Financial Activities 12
Friends of Gunnersbu Park and Museum Re ort of the Trustees for the Year Ended 31 March 2025 The trustees prèsent their report wth the financial stalemenls of the charity for the year ended 31 March 2025. The truslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities prepanng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019}. OBJECTIVES AND ACTIVITIES Objectives The trustees, objectives are.. For the public benefil to secure the preservation, proteclion and improvement of Gunnersbury Park and the buildings of historic interest therein. To advan the education of the public in the history, geography, natural history and archilecture of Ihe Park. To advance the education oflhe public by promotin9, SUPPOrting, assisting and improving Gunnersbury Park Museum. To provide. or assist in providing, facilities for recreation or other leisure-time occupations in the interest of the social welfare of the public. Activities The trustees aim lo work with the staff team to support Ihe Park and Museum. sharing members, expertise, making modest grants and occasionally putting on events. The Chairman was a co-opted member of the Gunnersbury Park Joint Advisory Panel until it was abolished in 2018. In 2022 the charity made an agreement to work closely in future with the Gunnersbury Museum & Park Dèvelopment Trust IGDT), registered charity 1168709. During 2024125 the charity's activilies included.. 1. In support of the charity's objective of se¢urin9 the preservation. protection and improvemont of Park and Museum for the publi¢ beneflt: a. continuing to provide advice and expertise to support restoration. acquisitions, and collections research where appropriate., b. using the trust6es' knowledge of the estate to assess and comment upon redevelopment proposals for sites beyond the Park's boundaries likely to affect the Grade11 landscape and historic views., c. keeping a close eye on matters which affect the Gunnersbury Estate. for example monitoring the impact of major music events in the Park and responding lo proposals for change. During the year, detailed comments were submilled on the planning application to install an inappropriatè Humanitarian Aid Memorial in the Park, and representation was made at the relevant meeting of the Hounslow Council Planning Committee-, d. offering funding of £15.250 towards the cost of developing a project relating to extending and upgrading The Orangery In the Park on condition that the Friends WOLJld be represented on the steering group and thal it would have a significant community role, rather than a purely commercial one. As the work proceeded wilhoul the charily's involvement, the offer of fijnding was subsequently wlhdrawn. 2. In support of the charity's objectlve of advancing the educatlon of the public in understanding the Park and Museum: providing up-to-date information to members and stakeholders through the ICe-Year1Y Newsletter, by email and to the general public via the charity's website and by re9ularly submittin9 stories to local community newsletters maintaining an online archive of Newsletters and articles., c. pmmoting the illustrated history of the Gunnersbury estate, which we published in partnership with Scala Arts & Heritage Publications. offering funding of £3,000 a year towards the cost of garden work directed by the Head Gardener and executed with the help of Capel Manor College students.. e. offering funding of £3,000 a year lo support museum projects developed by the Head of the Museum Service and her team. 3. In support of advanclng the education of the public by promotlng, supporting, assisting and improving Gunnersbury Park and Musoum: a. offering grants for appropriate projects and acquisitions for the collections and to support exhibitions and activities. and b. offering talks to local organisations All decisions about donations made to the Gunnersbury Estate have been guided by the principle that the charity assists only with matters over and above the work usually funded by The Gunnersbury Development Trust, which oversees the management of the Parf( and Museum, and the two local authorities which the estate and collections. Page 1
Friends of Gunnersbu Park and Museum Re ort of the Trustees for the Year Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charily is controlled by its governing document. a deed of trust and constilutes an unincorporated charity. Related parties The Trustees do not re1ve remuneration.There were no related party Iransaclions in the period. FINANCIAL REVIEW Reserves Policy At the Annual General Meeting the trustees assessed and approved the Reserves Policy. The charity uses donations, grants, and interest from the investments to make contributions that help fulfil the charily's objectives and aid the Park and Museum. The trustees aim to increase the investments as funds allow. Financial Position The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately twelve months of forecast unrestricted charitable expendilure. The charity's income is principally investment income supplemented by subscriptions and donations. This year the Friends received a generous bequest from Glen Bamham, a long-standing committee member, and resolved to spend it in his memory. The first projects funded in this way have been the refurbishment of the Italian Garden and the planling of new hedgerows using nalive species. The total combined income recorded for the financial year 2025 was £95,74312024= £9,464) and expenditure of £16.531 (2024.. £7.4071. Investment gains in 2025 were £1,672 (2024.. £17.3781 leaving net income after investment gains of £80,884 {2024.' £19,435). The balance held as unrestricled funds was £403,697 12024- £322,813} which the Trustees deem are sufficient to continue its activities. Investment Policy The Charity holds the majority of its investments in the Climate Active Endowments Fund, managed by Sarasin. The value of these investments increased in the year to 31 March 2025 though at a lower rate than the majorily of markets which were boosted by strong perfomances by for example armaments fims in which Ihe charity chooses not to invest. Public Ben8fit The executive committee and trustees have paid due regard to the Charity Commissioners, guidance on public benefit in deciding upon the charity's activities. Apart from the AGM, which is for subscribing members only, the charity events and its website are open to all. Financial management All of the charily expenditure is overseen with care by the Honorary Treasurer and the Committee. The Trustees keep in close touch with the charity's financi81 advisers and attend their advisory seminars. The costs of njnning the charity are funded largely from the subscription income. The charity reclaims Gift Aid and applies for grants to support ils work where appropriate. The preparation of the annual accounts complies wlh the Charity Commission's requirements. Managing Risk The Friends, Committee monitors the charity activities lo minimise risk. The organisation operates on a modest scale., the charity has no paid staff or premises, and all the work is voluntary. The trustees lake specialist advice about the management of the charity funds, most of which are managed by the major investment fim, Sarasin, which specialisgs in the management of charities. funds. Page 2
Friends of Gunnersb Park and Museum ort of the Trustees for the Year Ended 31 March 2025 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 286310 Principal address 25 Hartinglon Road Chiswiok London W4 3TL Trustees Prof. J Wisdom - Chairman & Trustee V S Leydecker- Membership Secretary & Trust88 P Salaun- Trustee & Committee Member V Bolt- Newsletter Editor & Hon Secretary P Dolphin - Committee Member S Larcombe - Hon Treasurer & Committee Member C Stiles- Committee Member M Sanders - Committee Member- Committee Member Independent Exarniner Freeman Carr Chartered Certified Accountants The Gatehouse 2 Devonhurst Place Heathfield Terrace Chiswick London W4 4JD Approved by order of Ihe board of trustees on .............. and signed on ils behalf by.. Prof. J Wisdom - Trustee Page 3
Inde endent Examinerfs Re ort lo the Trustees of Friends of Gunnersbur Park and Museum Independent examiner's report to the trustees of Friends of Gunnersbury Park and Museum I report to tho charlty trustees on my examination of the accounts of Friends of Gunnersbury Park and Museum (the Trust) for the year ended 31 March 2025. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'}. I report in respect of my examination of the Trusys accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all appIlble Directions given by the Charity Commission under S8Ction 14515){b) of the Acl. Independent examiner's statement I have completed my examination. I confirm that no material matters hav8 come to my attention in connection with the examination giving me cause to believe that in any matetial respect.. accounting records were not kepl in iespecl of the Trust as required by Section 130 of the Act., or the accounts do not accord with those records., or the accounts do nol 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 ccnsidered as part of an independent examination. I have no concerns and have come across no other 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. Hardeep Virdee Freaman Carr The Gatehouse 2 Devonhursl Place Healhfield Terrace Chiswick London W4 4JD 0311112025 Page 4
Friends of Gunnersbu Park and Museum Statement of Financial Activities for the Year Ended 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 87,018 87.018 1,050 Other trading activities Investment income 529 8.196 529 8,196 150 8,264 Total 95,743 95,743 9,464 EXPENDITURE ON Charitable activitles Subscriptions Newsletters Events Donations to park and museum Governan Costs 127 183 67 14,407 1,747 127 183 67 14,407 1,747 36 221 50 5.534 1,566 Total 16,531 16,531 7,407 Net gains on investments 1,672 1,672 17,378 NET INCOME 80,884 80,884 19,435 RECONCILIATION OF FUNDS Total funds brought forward 322,813 322,813 303,378 TOTAL FUNDS CARRIED FORWARD 403,697 403,697 322.813 Th8 nolas form part of these financial statements Page 5
Friends of Gunnersbu Park and Museum Balan Sheet 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS Investments 285,878 285,878 284,206 CURRENT ASSETS Cash at bank and in hand 119,541 119.541 40,287 CREDITORS Amounts falling due within one year {1,722) (1,722} 11,6801 NET CURRENT ASSETS 117,819 117,819 38,607 TOTAL ASSETS LESS CURRENT LIABILITIES 403.697 403,697 322,813 NET ASSETS 403,697 403,697 322,813 FUNDS Unreslricled funds 403,697 322.813 TOTAL FUNDS 403,697 322.813 The financial statements were approved by the Board of Trustees and authorised for issue and were signed on ils behalf by.. on JL(-LL? (Q,, > J Wisdom - Trustee The notes form part of these financial statements Page 6
Friends of Gunnersbu Park and Museum Notes to the Financial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial stat8ments of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charilies SORP {FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounls in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convenlion. with the exception of investments which are included at market value, as modified by the revalualion of certain assets. Financial instruments The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like cash and bank balances, trade and other debtors and creditors, IDans from banks and other Ihird parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairmenl loss is recognised in profit and loss, Financial assets and liabilities are offset, and the nel amount reported in the Balance Sheet when there is an enforable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. Donations and Legacies Income from donations and legacies is recognised in the Statemenl of Financial Activities when the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. Donations in kind are recognised al fair value where this can be measured reliably, and donated goods for resale are recognised when sold. Donated services and facilities are included at the value the charity would othenmise pay for them where this can be measured reliably. Expenditure Liabilities are rècognised as expenditure as soon as Ihere is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the oblig81ion can b6 measured raliably. Expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all cosl related to the category. Where costs cannol be dir8ctly attributed to particular headings they have been allocated to actlvitles on a basls conslstenl wllh the use of resources. Taxation The charily is exempt from tax on its charitable aclivilies. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. R8slrictions arise when speGified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Baslc Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as al the balance sheet dale using the closing quoted market price. The statement of financial aclivilies indudes the nel gains and losses arising on revaluation and disposals throughout the year. The charity does not acquire put options, derivatives or other complex financial instruments. All gains and losses are taken lo the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year-end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. Paga 7 continued...
Friends of Gunnersbu Park and Museum Noles lo the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued Baslc Investments The main form of financlal risk faced by the charily is that of volatility in equity markets and investmenl markets due lo wider economic conditions, the attitude of investors to investment risk, and changes in sentiment conceming equities and within particular sectors or sub sectors. OTHER TRADING ACTIVITIES 31.3.25 31.3.24 Book sales 529 150 INVESTMENT INCOME 31.3.25 31.3.24 Other fixed asset invest - Fll Deposit account interest 7,807 389 7.899 365 8,196 8,264 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 1,050 1,050 Other Irading activities Investment income 150 8.264 150 8,264 Total 9,464 9,464 EXPENDITURE ON Charitable activities Subscriptions Newsletters Events Donations to park and museum Governance Costs 36 221 50 5,500 1,566 36 221 50 5,534 1,566 34 Total 7,373 34 7,407 Net gains on investments 17.378 17,378 NET INCOMEI(EXPENDITURE) 19.469 (34) 19,435 RECONCILIATION OF FUNDS Total funds brought forward 303,344 34 303,378 Page 8 continued...
Friends of Gunnersbu Park and Museum Notes to the Finan81 Statements - continued for the Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted fund Restricted fund Total funds TOTAL FUNDS CARRIED FORWARD 322,813 322.813 Governance costs relate to accountancy fees. FIXED ASSET INVESTMENTS Lisled investments MARKET VALUE At 1 April 2024 Revaluations 284.206 1,672 At 31 March 2025 285.878 NET BOOK VALUE At 31 March 2025 285.878 At 31 March 2024 284,206 There were no investment assets outside the UK. Cost or valuation at 31 March 2025 is represented by.. Listed investments Valualion in 2023 Valuation in 2024 Valuation in 2025 266,828 17,378 1,672 285.878 Investments are managed by Sarasin & Partners. Prices are provided by Bloombergs and are based on the Mid price as at the close of business on the valuation date. The investment managerfs charges during Ihe year were reflected in net returns on investments and not separately charged. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3_25 31.3.24 Other creditors 1,722 1,680 MOVEMENT IN FUNDS Nel movement in funds At 31.3.25 At 1.4.24 Unrestricted funds General Fund 322,813 80,884 403.697 TOTAL FUNDS 322,813 80,884 403,697 Page 9 continued...
Friènds of Gunnersbu Park and Museum Notes to the Financial Stslements - continued for the Year Ended 31 March 2025 MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General Fltnd 95,743 {16,531} 1,672 80,884 TOTAL FUNDS 95,743 {16,531} 1,672 80,884 Comparatives for movement In funds Net movement in funds At 31.3.24 At 1.4.23 UnTestricted funds General Fund 303,344 19,469 322,813 Restricted funds Other Income (34) TOTAL FUNDS 303,378 19,435 322,813 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resouroes expended Gains and losses Movement in funds Unrestricted funds General Fund 9,464 (7,373) 17,378 19.469 Restricted funds Other Income 134) (34) TOTAL FUNDS 9,464 (7,407) 17,378 19,435 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.3.25 At 1.4.23 Unrestricted funds General Fund 303,344 100,353 403,697 Restricted funds Other Income 34 (34) TOTAL FUNDS 303,378 100,319 403,697 Page 10 continuad...
Friends of Gunnersbu Park and Museum Noles to the Financial Slalements - continued for the Year Ended 31 March 2025 MOVEMENT IN FUNDS . continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows= Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General Fund 105,207 (23,9041 19.050 100,353 Restricted funds Other Income (341 (341 TOTAL FUNDS 105,207 (23.938) 19,050 100,319 RELATED PARTY DISCLOSURES The Trustees do not receive remuneration. There were no related paty transactions in the period. Page11
Friends of Gunnersbu Park and Museum Detailed Statement of Financial Aclivilies for the Year Ended 31 March 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Donations and legacies Legacies Membership Fees 86,208 810 1,050 87,018 1,050 other trading activities Book sales 529 150 Investment income Other fix8d asset invest - FII Deposil account interest 7,807 389 7,899 365 8,196 8,264 Total Incomlng resources 95,743 9,464 EXPENDITURE Charitable activities Event costs Newsletters Donations to park and museum 182 183 14,407 50 221 5,534 14,772 5,805 Support costs Governance costs Webhosting Accountancy and legal fees 127 1,632 36 1,566 1,759 1,602 Total resourGes expended 16,531 7,407 Net income before gains and losses 79,212 2.057 Realised recognised gains and losses Realised gainsl(Ioss8sI on fixed asset investments 1,672 17,378 Net income 80,884 19.435 This page does not form part of the statutory financial statements Page 12