Charfty rnglstration number 288402 company rgglstratlon number 01743492 (England and Wales) THE GORDON CARLING FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE GORDON CARLING FOUNDATION LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr C Volsey Mrs A Widger Mrs 8 Gill MS L Ellis Mr R A Bishop ChaTIty number 288402 Company numbèr 01743492 Registered office 30 Fore Street Toines Devon TQ9 5RP Independent examlner Mr J Milden FCCA Quay House Quay Road Newton Abbot Devon TQ12 2BU Bankers Lloyds TSB 65167 Fore Street Kingsbridge Devon TQ7 1PN Solicitors Beers 29 Fore Street Kingsbridge Devon TQ7 1AA
THE GORDON CARLING FOUNDATION CONTENTS Page Trustees, report Independent examinerfs report statement of financial actiwlies Balance sheet Notes to the financAal statements 7-15
THE GORDON CARLING FOUNDATION TRUSTEES. REPORT (INGLUDING DIRECTOR5. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report. together with the acLounts of the ¢h8ritable company for the year ended 31 March 2024. The accounts have been Pfepartrd in accordan with the accounting policies set out in notè 1 to the ac¢ounls nd comply with the Charity's Memorandum & Articles of A58ocialion datèd 29 July 1983 and amended on 14 April 2003, 20 Seplernber 2004, 15 Junè 2009 and 17 July 2018, the Companies Act 2006 and Accounting and Reporting by Charities.. Stalernent of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effective 1 January 20191. Obj¢¢tives and a¢tivltl&s Ob ectives and aims The objects of the Charity are to ensure that people with a Learning Disability liwng in South Devon have the opportunity to enjoy the widest possible independence and quality of life. This has beèn ènabled by providing safe and secure housing for their residents. who ale adulls with learning difficulties, in South Devon. The aim is to ensuie those who are supported Éo live as fulfilling lives as possible. This is done by offering appiopriale financial support to those in difficulties and by encouraging the provision of actNiities and educational opportunities to persons with learning difficullias rasident in South Devon. Due lo the Trustees coricem over ageing and an inability to recruit younger Tru51ees, all bul one of the Charity'5 propertie5 were gifted to Golden Lane Housing, a Gharitsble Community Benefit Society, in the year who will continue to LJ5e the propertie5 Wlthout change. The Trustees remain committed to ensuring that people with a Learning dis8bilily living in South Devon have the wide51 possible independence and quality of life and will use the cash funds held for this purpose. Public benefit Thè Trustees have complied with their duly to have due regards lo thè guidance on public benefit published by The Charity Commission. The Charity fulfilled its duties in the year via the provision of housing support and financial support lo adults wlh learning difficultie5 in South Devon. Thèy review public benefits as part ol their aims and objective5 and planning lulure objectives. 11 is the intenb'on of the Trustees that the objects of the Charity are reassessed in the forthcomlng year Sn vlew of the transfer of the Charity's propert'es lo Golden Lane Housing. If appropriate they will be revised. Achievements and perfomance During the year the Charity provided accommodation for 25 rèsidents in 19 properties, including 6 units al Carling Court and 4 al Alta Vista until all bul one of Ihe properties were transferred. The care of residents was provided by Newkey and other provlders and The Gordon Carfing Foundats'on worked closely with them lo ensure that the need5 of our wlnerable residents were fully met. The Trustèés took particular care with the transfers lo ensure that all the future need5 and iequiremen15 of the residenls would be appropriatèly satisfiad. The Trustees, tenants and their lamilies, support staff would like to thank all at Golden Lane Housing for all the help, support and guidance wilh the transfer of the propertie5 and the Trustees of the Charity are all agreed that we have made the right decision to transfer them to Golden Lane Housing which will ensure that a safè and secure future for all our lertants will continue with them a5 11 ha5 been over the last 40 years with The Gordon Carfing Foundation. One property is still owned and il 15 the intention is il is sold in the Current year.
THE GORDON CARLING FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review There was a deficit of incotne over expendiiure for the year of £2,668,614 (surplus of 2023= £143,520). The large deficit in nel income refflects the gifting of properties to Golden Lane Housing with the only consideration being lund5 to settle the outstanding mortgages. The Charity doe5 not cary out fundraising activities. Reserves Policy The Trustees have established a policy whereby the unrestricted funds not commilled or invested in tangible fixed assets I'the free reserves) held by the Charity should represent 3 months, charitable expenditur@. Al this level, the management Committee considered that they would be able lo continue the current actNities of the Charity in the event of a significant drop in funding. The majority of funding came from rental ol various properties, and the Trustees fell that the risk that all income eeased would be unlikely and therefore the Charity was able lo service il's liabilities and the level of resetves was suffiaenl to enable conlinualion of the d)arilable activities. Following the gifting of the properties lo Golden Lane Housing. the policy has become redundant and reserves ar& available for expenditure as the Trustees See fit. The free reserves of the Charity al 31 March 2024 were £447,382 (2023.. £358,474). Plans for future periods Thè Charity remains in a vèry strong financial posltlon at the end of the financial year to 31&t March, 2024. The Trustees will continue to consider how best to use the remaining assets and as stsled la51 year we may need to change our constitution which is currently being VIewed. Since the year end tha remwning property hekl has been vacated by the tenant and rnade ready for sale. Strueture. govemanté and m3nagnmont Constitution The Charitv 15 a company limitÈd by guarantea. r.hAritsJhlp rompany's M@morandurn Articl•s of Association frorn ils incorporation on 29 July 1983 as amended by the spe¢ial resolutions dated 14April 2003, 20 September 2004, 15 June 2009 and 17 July 2018 are the primary goveming documents ofthe Charity, The company registration number is 01743492. In the event of the charitable cornpany beino wound up every mefflber of the cornpany undertakes to Contribute such amount as may be required (not exGeeding £11 lo tho companls assets. The Goveming Document wa5 also updatèd on 8 December 20()5 following the change of name from South Hams Society for the Mentally Handicapped aftar disaffillalion frorn Mencap. 11 has also been updated and re- wrillen in accordance with the r&commendalions and approval of the Charity Commission, by SperAal Resolution. by the rnembers al the Annual Ganeral Meeting 20 July 2009. The Tru51ees. wh) are also the directors for the purpose of company18w, and who seNed during the year and up to the dale of signature of the financial statements were-. Mr C Voisey Mrs A WKlger Mrs B Gill s L Ellis Mr R A Bishop
THE GORDON CARLING FOUNDATION TRUSTEES. REPQRT {INGLUDING DIREGTORS. REPORT) (GONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Recruitment and a oinlmenl of new Trustees The mernbers carry out the election of the officers and committee member5 81 the Annual General Meeting. Nominations are made in writing and delivered to the secretary. Each nomination musl be proposed and seconded by a voting member of the Association and accompanied by the writtèn consènt of thè nomin£a. Naw Trustees are Inducted Into the workings ol the Charity through a Garefully olganised induGtion programme and once appointed during me&lings held on a regular basis. All Tru51ees have attended appropriatè Iiaining org8nised locally. Or anisalional structure Full ra5pon5ibilily for the running of the Charity is vested in Trustee5 who by reason of the incorporation of the Charity are also diiectois of the Cornpany. The Company is limited by guarantee and does not have share capital. The Memorandum of Association precludes the TiusteeslDirector3 from receiwng any remuneration or benefits. The Trustees met for busines5 rneelings three limes in the year. Risk mana ement The Trustees have a (luty lo identify 8nd review the risks to which the Charity 15 exposed lo ensure appropriate controls are in pla to provide reasonable assurance against fraud and error. The Trustèes have conducted their own rewew of the major risks lo which the Charity is exposed and systems have been established lo miligale those risks. Internal risk5 are rninimised by the implemenlalion of procedures for the authorisation of all transactions and lo ensure Consistent quality of delivery for all operational aspeels of the Charity. These procedures are periodically reviewed to ensure that they still meet the needs of the Charity. The key controls used by thè Charity include.. -Formal agendas for all CorThrnittee and Board meetings., -Cornprehensive stiategic planning. budgeting and management accounting., -Estsblished organisalional Structure and lines of feporting., -clear aulhorisalion and approval levels. The Trustees regnISe thal systems can On provide reasonable but not absolute assurance th81 major risks have been adequately managed. This report has been prepared in accoidance with the special provisions relating lo small companies within Part 15 oflhe Companies Act 2006. The Tru51 rtwasap veij by the Board of Trusiees. a5 company (IlrectQTS slgned on Its behalf by- Mr A Blshop Trustee
THE GORDON CARLING FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GORDON CARLING FOUNDATION I report to the Trustees on my examination of the financial statements of The Gordon Carling Foundation Ith8 charbtable company) for the year ended 31 March 2024. Respon$lb11511es and basis of report As the Trustees of the charitable company land also its directors for the purposes of company lawl ytsu are responsible for the preparation of the financial slalemenls in accordance with the requiremènts of the Corllpanies Act 2006 Ilhe 2006 Act). Having satisfied myself that thè financial 51alernents of the charitable company are not required lo be adited under Part 16 of the 2006 Act and are eligible for indapendenl examination, I report in respect of my examination of the charitable Company's financial 51alernenls carried out under section 145 of the Charities Act 2011 (the 2011 Act). In ¢arrying out my examination I have followèd all the applicable Directions given by the Charity Commi55ion under section 145{Sllbl of the 2011 Act. Ind8pend•nt examiner's statement I have completèd rny examination. l eonfimi that no matter5 have come to my attention in connedion with the examination giving me cause lo believa that in any material rèspect.. accounting cOrdS were not kept in respect of the charitable company as required by section 386 of the 21XJ6 Act., or the financial stalements do not accord with those records., or the financial statements do not comply with the accounting requ1mentS of section 396 of the 20( Act other than any requiremènt that the accounts give a true and fair vW which is not 8 matter Considered as part of an in(lependenl examination,. or the finanrial statements have not been pr&p3ied in accordance with the methods and prinaples ol the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financ4al Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concams and have come across no other matters in ¢onnection with the examination lo whKh attention should bo drawn in this report in order to enable a proper understanding of the financial slalements lo be reachad. ason Milden FCCA Quay House Quay Road Neon AbDtst Devon T012 2BU
THE GORDON CARLING FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARGH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted funds 2023 Restricted funds 2023 Total 2024 2023 Nots$ Income from: Charitable activitie5 Investments Other income 108,942 1,857 7,161 108,942 1,857 7,161 246,692 246,692 6,785 6.785 Total income 117,960 117,960 253,477 253,477 Expènditure on: Charitable activities 56,982 56.982 109,957 109.957 Grfting of properts'es to Golden Lane Housing 2,729,792 2,729.792 Totsl rèsourcas expended 2,786,774 2,786.774 109,957 109,957 Net loutgoin91finGoming resources before transfèrs Gr055 tran5fer5 between fund5 12,668,814) 12,668.8141 143,S20 143,520 35,530 135,5301 NEI IvxpeiidlturellliiG(biii¢ foi the yearl Nat movement in funds 12,633,284) (35,5301 {2,668,8141 143,520 143.520 Fund batances al 1 April 2023 3,15Q,885 35,530 3,186,415 3,007,365 35,530 3.042.895 Fund balance5 at 31 March 2024 517,601 517,601 3.150,885 35,530 3,186,415 The slaternenl of financial 8clivilies also complies with Ihe Tequirements for an Income and expenditure account under the Companies A¢t 2006.
THE GORDON CARLING FOUNDATION BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxed asg•ts Tangible assets 11 70,219 3,192.469 Current assèts Debtors Cash at bank and in hand 12 3.507 453,216 15,054 387,844 456,723 402,898 Creditors: amounts falllng due within one year 14 19.3411 129,379) Nel current assets 447,382 373,519 Total assets l¢s$ current liabllities 517,601 3,565,988 Cr8ditors- amounts falllng due after more than one yéar 15 1379.573> Net assets 517,601 3,186,415 Income funds Restricted funds Unrestricted lund5 18 35.530 3.150,885 517,601 517,601 3.188,415 The company is entitled to the exemption from the audit requirement contained in section 477 of thè Companie5 Acl 2006. for the year ended 31 Mah 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 21J06 wrth respect lo accounting record5 and the pr¶tion of financial statements. The mernbeT has not required the company lo obtsln an audit of ils financlal stslements for the year in question in accordance with section 476. These financi81 ststemenls have been prepared in accordance with the provisions appllcable lo companies subje lo the small companies regime. The financAal statements were approved by the Trustees on ...2.3. .... . Mr A Bishop Tru$tee Company Reglstratlon No. 01743492
THE GORDON CARLING FOUNDATION NOTES TO THE FINANGIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies Charity information The Gordon Cading Foundation is a private company lirniled by guarantee incorporated in England and Wales. The registered office is 30 Fore Street, Totnes, Devon, Ta9 SRP. 1.1 Accounting eonventlon The financial slalemenls of thè Charity have been prepared in accordancè with the Charity's Memorandum and Articles of Assoc4ation, the Cotnpanies A¢t 2006 and "Accounting and Reporting by Charities.. Statement of Recommended PractiTr applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) lelfective 1 January 2019)" The charitable company is a Public Benefit Entity as defined by FRS 102. The Charity has tsken advantage of the provisions in the SORP for charities applying FRS 102 Update Bijllètin 1 not to prepare a Slalemenl of Cash Flows. The finan¢ial sta(ements are prepared in sterling, which is thè funcbonal currencm of the company. Monetary amounts in these financial slalemenls are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal aOuntIng pL)li¢ies adopted are set out below. 1.2 Going concem At the lime of approving the finanaal stalemenls, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for (he foreseeable future. Thus the Trustees continue to adopt U)e going ¢on¢ern basis of accounting in preparing the accounts. 1.3 Charltable funds Unrestricted funds arè available for use at the discretion of the Trustees in furthèrance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specfflc Cond'0n$ by donors or grantors as to how they may be used. The purposes and uses of the r@strieted fvnds are set out in the notes lo the financial slalemenls. 1.4 Income Income is recognised when the Charity is legally ents'lled Its it after any performance condibons have been met. the amounis can be measured ieliably. and it Is piubablE Ili<lt iwiLviii¥ will L)¥ 1¥b¥iv¢. Cash donations are re¢ognised on reipl. Other donations are recognised once the Charity has been notified of the donation, unles5 pertortnan¢e ¢on(Jllk)ns require deferral of Ihe amouni. Turnover is measured al the fair value tsf the consideration received or receivable and represents amounts receivable for goods and services provided in the ntsmal Course of business nel of discount5. Rent is received on a monthly basis and is recognised when due.
THE GORDON CARLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Ae¢ounting policies IContlnu8dl 1.5 Expenditure Liabilities 8r& recognised as resources expended once there is a legal or Conslructive obligation to a thlrd party, it is probable that a transfer of economic benefit will be required in 5ettlemenl, and the amount of the obligation can be measured reliably. All expenditu is accounted for on the accruals basis and includes irrecoverable VAT. Expenditu is allocatad to categories either on a direct or a usage basi5. Expenditurg attrlbulable to meeting the aims and objectSve3, including the $upport costs, is #icluded in charitable actTVities. Govemance costs comprise all costs involwng Ihe public accountability of the Charity and its compliance with regulation and good pra¢tice. These costs include the costs Felaled lo the audit of the accounts. Overhead costs incurred wholly or mainly in support of expenditure on the objects of the Ch8rty and being an integral part of the costs of carrying out those activities, are sep8rately analysed within Charitable Expendilure in the Statement of Financ4al Activities as appropriate. 1.6 Tangible fixed assets Tangible fixed assets coslrng £500 or more arè eapilali5ed and are carried 8t historic cost. nel of depreclatbon and any provision for impairmenl. Depreciation is recognisèd so as lo wiile off the cost or valuation of assets less their residual values over their usefvl lives on the following bases.. Freehold land and buildings Leasehold land and bLJildings Plant and equipment Fixture5 and fittings 1% on cost of buildings slraighl line over period of lease 10QA on cost 20. on cost The gain or ltsss ari5in9 the disyos<il vf rjjl ib deleitlllllE¢J as the (lference bemeen ine sak proceeds and the Carrying value of the asset, and is recognised in the statement of finanaal aCtiv"e5. 1.7 IwnpalrwnEWIt of flxed assets A review for impairment of a fixed asset is carried out if events or changes in arcumslances indicale that Ihal the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets aiid Ili¥ii IEwveiable arnounts are recognlsed as Impaim)entS. Impairment losses ale recognised In the statement of financial activities. 1A Cash and ¢ash equivalents Cash and cash equivalents incjude cash in hand. deposits held al call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in ¢UTrenl liabillies. 1.9 Financial instruments Financial insttumenls are recognised in the Charity's balance sh991 when the Charty becomes pariy lo the contractual provisions of the instrument. Ba$1¢ financial as$*ts Basic financial 85se15, which include trade and other receivables and cash and bank balance5. are initially measured al Iransaciion price including transaction costs and are subsequenlly carried al amortisèd ¢ost Using the effective interest method Ljnless the arrangement constitutes 8 financing transaction, where the transaction is measured al the present value of the future reip1S discounted al a rnarket rate of interest. Financial assets classified as receivable within one year are not amortised.
THE GORDON CARLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl DérncognEtlon of financial assets Financial assets are derecognised only when the contractual rights tts thè cash flows from the assets Éxpirè or are settled or when the Charity transfers the financial assets and Substantially all the risks and rewards of ownership to another entity. Basic financial liabilitiès Basic financial liabilities, induding trade and other payables, are initially recognised al transaction price unless the arrangement constitutes a financing transaction. where thè debt instrument is measured at the present value of the future payments dis¢¢LJnled at a market rate of interest. Debt instruments are subsequenlly carri¢d at arnortised cost. using the effective interest rale method. Finanrial liabilities dassified as payablè within one year are not amortised. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary couise of operations frorn suppliers. Amounts payable are dassiffied as current liabilities if payment is due within one year or less. If not. they aré presènted as non-current liabilities. Trade payables are recognised initialty at transaction price and subsequenwy measured al amortised cost using the effective interest method. DerÈeognition of financial liabilities Financial liabilities are delecognised when the Charitys contractual obllgalions expire or are discharged or cancelled. 1.10 Leases Rentals payable under operating leases. including any lease incentives received, are charged to income on a 5traighl line basis over the lem of the relevant lease. Charitable aetlvltS•s Unrestricted Unrestricted fund fundfj Pmvision ol Provision of safe & safe & tseGLrre stGure residential residential hou$lng housing 2024 2023 Rental income 108,942 246.b92 Invèstmènts Unrestricted funds Total 2024 2023 Bank interest receivable 1,857
THE GORDON CARLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Othèr in¢ome Unrestricted UnrestTlCted funds funds 2024 2023 Feed in tariff 7.161 6,785 Charltable expend5turè Advancement of safe and securn r¥$ldential housing for •dults with learnlng difficulties 2024 2023 Depreciation and impairment Repairs and maintenance Insurance Garden expenses Council tsx SeNce charges and ground rent Bank loan interest Legal and professional fees 5,293 22,301 6.308 4.589 1.889 2,871 1,777 3,835 20,199 40,275 9,050 2,809 1,801 2.792 21,089 1,000 1,867 100,882 8hsJr•. nf support eosts (see not• 8) Share of governance costs {5ee note 61 688 6,771 853 8.222 56.982 109,957 Support Costs allocated to activities Total 2024 Totsl 2023 Bank charges Sundry costs Governan 161 507 6.771 167 8,222 7.439 9.075 10-
THE GORDON CARLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities Icontinuedl 2024 2023 Gov•mance costs comprisè: Indèpendent examinerfs fees- extemal scrutiny Independent examinerfs fees- other services Auditor's fees- external scruliny Audilorfs fees- other services Trustee travel and expenses Meeting costs 2.520 3,462 4,770 3.154 183 115 287 502 6,771 8.222 Trustees None of th& Trusteos lor any persons connected with thern) receid any remuneration during the yeaT.12023'. Two Trustees were reimbursed a totsl of £288 foT travelling and sundry expenses 12023- one Trustee was reimbursed £1831. Gifting of propert to Goldèn Lane Housing vnre$triCt Unrèstrictèd funds funds 2024 2023 Loss on disposal of freehold property Loss on disposal of leasehold property Loss on disposal of fixluies and Iittings Funding of mortgage redemptions Legal and professional costs 2.578,780 537,773 402 1398,819) 11,656 2,729,792 Taxation The Charity is exempt from lax on incorne and uains falling wthin section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 lo the extent that these are applied lo its charitable objects. 10 Employees The Charty had no employees during the year (2023.. none).
THE GORDON CARLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Tangible fixed assets Freehold land and bulldings L•o5ghold land and bulldlngs Plantand Flxtures and •qtslpmort fltrlmg$ Total Cost Al 1 April 2023 Disposals 2.702.276 644.869 12.702,276} 1573.4591 53,482 153.4821 57.423 3.458,050 {56,9241 13,386,141) Al 31 March 2024 71,410 499 71.909 Depreciatlon and impaimiènt At 1 April 2023 Depreciation charged in the year Eliminated in respect of disposals 121.884 1,612 I123,4) 34.131 2,746 135,6861 53.482 56,084 265,581 935 5,293 156,5201 1269,1841 153,482} Al 31 March 2024 1,191 499 1.690 Carying amount Al 31 March 2024 70.219 70,219 Al 31 March 2023 2,580,392 610,738 1.339 3,192.469 Land and buildings with a nel book value of £nil12023.. £2,044.3531 have bèèn edged as security for bank loans. 12 Debtors 2024 2023 Amounts falllng due wiinin one year: Trade debtors Prepayments and accrued in(x)me 20 3,487 20 15,034 3.507 13 Loans and overdrafts 2024 2023 Bank108ns 400,058 Payable within one year Payable after one year 20,485 379.573 Amounts Included above which fall due after five yeat5'. Payable by inslalments 285,884 12-
THE GORDON CARLING FOUNDATION NOTES TO THE FINANGIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 13 Loans and overdrafts Icontlnuedl At 31 March 2023 the bank108ns wère secured by a fixed and floating charge over the freehold properties 21 Northville Park. Alla Vista, 1 Saffron Park and Dovedale and the leasehold properties 9 Albion Gardens and Britannia House. The bank loans were further secured by an unlimited debenture incorporating a fmed and floating charge. Following the redernplion of the mortgages in the year, the tharges have been released. 14 Credltors: amounts falling due wlthln one yéar 2024 2023 Notes Bank loans Trade creditors Accrua15 and deferred income 13 20,485 3,404 5,490 9,341 9.341 29,379 15 Creditors: amounts falling due after more than one yèar 2024 2023 Notes Bank loans 13 379,573 16 Unrestricted funds The unrestricted fund5 of the charity cornprise the unÈxpended balances of donations and grants which are not subject lo specific conditions by donors and gran1015 85 to how they may be used. These indude -et lde out of unre6trict¢d fundB by thè truÈtègÈ foT Èpèctfic purposés. de¥ign&ted frjnds whieh have bccn- At 1 April 2023 Incoming r•JourccJ Resource5 expended Transfers At 31 Ma 2024 rieneial funds 3,150,885 117,96Q 12,786.774) 35,530 517,601 Pr¢vious year: At 1 April 2022 Incoming resources Resour¢ey expended Transfern At 31 Mar¢h 2023 General funds 3,007,365 253,477 1109.9571 3.150.885 13-
THE GORDON CARLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Analysis of nèt assets b•ts¥•èn funds Unr¢stricted fund5 2024 Restrrctsd funds 2024 Total 2024 At 31 March 2024: Tangible assets Current asselsllliabililies) 70,219 447.382 70,219 447,382 517,801 517,601 Unrestrictsd fund$ 2023 Restricted funds 2023 Total 2023 At 31 March 2023. Tangible a5se15 Current asset511liabililiesl Long leirll liabilities 3,192,469 337,989 {379.5731 3.192.489 373.519 1379,5731 35,530 3,150,885 35,530 3.186,415 18 Restricted fund$ The income funds of the Charity include restricted funds comprising the followin9 unexpen¢Jed balances of donations and grants hpld nn triJ.4t for spotifie PUTposes'. Movement in funds Incomlng re5tyJrc85 Balartea at 1 Aprfl 2022 Balanco at 1 Aprll 2023 Transfers Balance at 31 Mar¢h 2024 Reslrictedlggacy 35.530 35,530 135,530) The restricted legacy arose from funds received and specified lo be used In the Tolnes area. In wew of the obstacles lo be sats'sfied, the family of the lègalor have been approathed and approval ceIVed that the funds may be used for the general purposes of the charity. A¢coidlngly the funds were redesignated in tho year. 19 Events aftsr the reporting date Since the year end. the remaining wopety has been vacated by the tenant and an offer for purchase accepted of£63,000. The Trustees a currentjy in discussion as to the future of the Charity anil if appropriate will amend it's objects as sel out in the governing document. 14-
THE GORDON CARLING FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 R*lated party transactlons No lat$d party transactions requiring disclosure ar05e in the year other than the letting of one Property to the stepdaughter of Mr C Voisey, Trustee, with rent payable of £6,472 which wa5 al nomal tenancy lerms12023'. £8.3201. 15-
THE GORDON CARLING FOUNDATION MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 16-
THE GORDON CARLING FOUNDATION DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Income from: Charjtsble actlvities Rental income 108,942 246,692 Investment incomo Bank interest receivable 1,857 Other income Feed in tariff 7.161 6.785 Total incomè 117,960 253,477 Re50urces expendgd: Charitable activitles Provision of safe & securè resldentlal housing Freehold and leasehold property depreciation Plant and machinery dèpreaation Fixtures and fittings depreciation Repairs and maintenance Insurance Garden expenses Council tax Service charges and ground Tent8 Bank loan interest Legal and professsonal fees utilities Share of sUPPOrt costs Share of governance Costs 4,358 12,062 935 22,301 6,308 4,589 1,889 2.871 1,777 3,855 860 668 6,771 8,133 40.275 9,050 2.809 1.801 2.792 21,089 1,000 1,807 853 8,222 {56,9821 1109.9571 Glfting of properties to Golden Lane Houslng L05s on disposal of freehold property Loss on disposal of Itsssohold property Loss on disposal of fixtures and fittings Funding of mortgage redemptions Legal and professsonal costs 2,578.780 402 1398.8191 11.658 12,729.792} Nét movem¢nt In funds 12.668,8141 143.520 17
THE GORDON CARLING FOUNDATION SUPPORT AND GOVERNANCE COSTS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Support costs Bank charges Sundries 161 507 167 686 668 853 Gov•rnan¢e ¢o$ts Auditor's fees- external scrutiny Audilors's fees- other services Tru$lee travel and expenses Meeting costs Independent examinerfs fees- external scrullny Independent examinerfs feas- other services 4,770 3,154 183 115 287 502 2,520 3.462 6.771 8.222 7,439 9.075 18-