Charity registration number.. 290884 The Gibbons Family Trust Annual Report and Finanoal Statements for the Year Ended 31 March 2025 WESTCOTTS CMANTÈftÈO ACCOUNTANT • HUSIMESS AOVI$ERS
The Glbbons Family Trust Contents ReferenrA and Admlnlstratlve Deta118 TNsteeg Report 2to6 Independent Examinerfs Rep)rt Statement of Finanoal AcUvtli8S Balance Sheet Notes to the Financial Statements 101018
The Gibbons Family Trust Reference and Administrativo Delalls Chalr Dr John Frankish Trustees Dr John Fr8nkish Professor Chris King CBE DL Mrs Elizabeth Lee Dr Clive Stubblngs, (WIChaIr) Mr Simon Bamett Charity Reglstratlon Number 284 Prlnclpal Office 24 Phllip Avenue Bam51aple Devon EX313AQ Independont Examln•r Cath&rine Williams FCA DChA Westcotts {SWJ LLP 47 Boutport Stre8t Bamstsple Devon EX31 1 SQ Page 1
The Gibbons Family Trust Trustees. Report The Trustees present the annual report together with the financial statements of the Charity for the year ended 31 March 2025. Objectlves and actlvltles Grants are awarded by the Trustees, in their disGretN)n, for such charitable purposes concerned with the welfare of children and young people (up the age of 251 in Devon and the Isle of Than8t in Kent. In the case of Devon there is weference shown for children and young people from East Devon. This Charity substantially b8n&fitted from the Wills of David Ernest Gibbons and Vera May Gibbons, who died in 2(X)8 and 2009 resp8clively. These Wills laid out strict criteria for how this Charty operates. The Trustees are aware of the criteria and consider these at all limes. The Trustee8 continue to have regard to the guidance issued by the Charity Commlssion on public benefit. The Trust68s have evofv8d the grant making Clea in line wth the deeds of the Trust to favour smaller local charib'es and not larger 'nalional' charities big reseNes and hHJh wage bills. Statistics regarding the success of applications and grants made are now readily avallable on the Trust website. Structurei govomance and managem9nt The Charity has been fully compliant all re18vanl Charity Commisslon Guidance on Governance. The Trustees continue to be exlrem8ly gratefvl to their Trust Manager, Cathy Houghton for hgr thorough and excellent management of overy aspecÈ of th& Charitys affairs. Since th8 coronavirus reslriclions of 2020 Trustee meètings have been conducted 'on-line'. This removed the need for the Charity to find new office space Ifollowlng closure of the previous space in June 20211. These meettngs are convenienl, efficient, accurate, economic and effective. However, the Trustees have resumed meeting in person when an advantage ¢x ben8fit is agreed. The trust does not rent or current Offi space wth our manager operating from home. Trustae meelings hav8 been increased to better manage the dse in appllcalions (increased by 50Vo In 2 years) and to improve response limos and efficiency. The Trustees now meet 6 times a year, January, March. May, Septernber and November, The Trustees have designated January as Govemance and May as an AGM, meeting in person at a hlred venue. The September meeting is scheduled lo meel in person al a hlred venue. The other 3 meetings are designated grant meelirus with limited business activity and conducted on-line. The Trusle&s continue lo reflect oll the effectivenoss of the meetings and schedule 8nd will adapt as required. Outside of meetings contact between the Trustees and the Trust Manager rAJntinue8 via email at least weekly. Truslees and manager are aware ol unavailability and holiday via ernail and using the Timetr99 app. Some grants. nsidered a8 urgent. are now assessed and awarded swrfily, outside of the scheduled ffleelings using email. with the agreement of the Twstees. This is important as it facililales grant making in eXptIonal or urgent situations. This requlres a minimum of 3 out of 5 Trustefys lo agr on making a grant. The frustegs are not r8munerated but can dalm reasonable travel expenses lo attend a Tnjstees, meeting or in the course of his or dUe5. In this year only £55 has been pald to one Trust8e for this reason. Pagè 2
The Gibbons Family Trust Trustees, Report (continued) The TnJslees are pleased lo report that no changes in management of the tharity have tsken place during the reporting year. Trustees are generally appointed for 3 year5 with any re-appointments tsking Pla in May IAGMI, regardless of month of appoinlmenl. Consideration to Chartiy Commission guidance that appointments are generally a maximum of 9 years is accepted with ox¢eplion to family members. It is noted that this is guidance and might be vard if drcumstan¢8s dictste. The Trustees explored the possibility of an arnalgamalion of both Trusts to a single Charity. This Charity could lake the fomi of a CIO. This would simpltfy the slrucluTe and reduce management time and cosl. Money was Spent on legal advice, and consultalions with the Chariti&s Commission. The Charities Act 2022 was designed to make It easier for charvJes requirod by the Trustees to take place. Delays to full implemenlalion forced the Trustees to wait until such time as these changes are fully implèmented beforg taking further action and incurring mor8 cost. No progress has been made wllh Ihis during the report period. The Trustees undertook a review and ratification of Ihe ft)Ilowing policies at the January meeting 2025.. Reserves and Investment, Safoguarding, Office Manual. the Trusts, Risk Assessment, Govemance code and register of Trustee inlerests. Achlgvoments and pgrformanco The Charity grant policy follows the spirit of the criteria stipulated in the Trust Deed. The Trustees continue to favour smaller local charities rather than larger nation81 charities. The Trustees remain 9lant in thgir approach to gr8nl-making, researching charities on the Charity Commission website, Companiès House, or other statutory body websites= verffwng all organisalions online.. having sight of accounts for all organisalions, ideally within 6 months of their year*nd. From November 2024 the Trustees agreed that applications for f8milies and individuals would only be acGepted via an independent, not for profit, third paty. who would act 8s their referee and be responsible for grant payments. Policies surrounding the payment of grants have remained rigorous to minimise the risk of fraud- payThent is by BACS only after having a copy of bank Identification. The Trust's system requires feedbad( lo ensure grants are utilised in line with the application and within 6 months of receiving a grant. On occasion situations may change. 8nd requests are made to the Trustees for a delay or diff8renl use of a grant. The Trustees alwayE nSider any such request diligently before accepting it. The Trustees continue to welcome successful applicants sending feedba¢k via thankyou's. reports, photos, and invitations, following receipts of gmnts. The TnJst8es have continued to distribute in grants the maximum income avallable. They have utilised the previously withdrawn capital. designated for grant spending. when income was not sufficient. Further capital wilhdrawal was agreed at the March 2024 and November 2024 meeting to release £50,000 each time. This money was wfthdrawn from CCLA Ethical Fund. The second withdrawal made at a time of 'market' high made this a very effective financial transactlon with mon9y available from December 2024. This continues to add significantly to the grant spending with previous withdrawals 12022 and 2024) being spent. Page 3
The Gibbons Family Trust Trustees, Report (contlnued) The Charity received 106 appllcations during this fSnancial year. the hlghest number ever receiveil, and a 46/0 increase on 2 years ago. £148,842 (£141,253 in 2024. £102,265 in 2023, £94,897 in 20221 was awarded by way of 95 grants {82 last yearl.The average grant sbze being £1.567 (£1.723 in 2024. £1.420 in 2Q23. 2022 in £1,556). Of this totsl, £23,069 remainèd in East Devon 1£21.250 last year) In keeping with the preference for this area stated in the Deed of the Charity. A Further £36,360 was grantj to organisalions working with young people in the Isle of Thanet In Kent1£31.480.' 20241., £13,080 was glv8n to individuals through 17 grants (£2,479 with 3 grants to individuals in Thanel). A full list of the grants made to organisations is avallable as an appendix to these accounts. 11 is immense pride we can report thai since 2010, £1.531,167 h85 been gifted in 1,030 grants. During that tlme average grant size to individuals was £568, and to organisations £1.737. These average size grants fluctuate from year to ygar bul show an increase wsth time. The Charity continues lo shar8 all resources, websile, and database, with The David GibbDns Foundation. The running costs of The Gibbons Trusts have been paid from the capital withdrawals from the David Gibbon8 Foundation. The decision by the Trustees was taken due to larger investments and greater income in DGF to support grant making in the GFT. A monthly standing order exis15 to facilitate this with a balancing transfer al the end of each financial year lo complete payment. The Trusloes are pleased that the onllne grants database delivers an effio6nt and papersS system for Trustees in their preparation for rneengs. Flnanclal revlew Almost 811 the Chari$ funds remain invested with the CCLA and the Truste8s conlinug to monitor the portfolio on a regular basls. The Charity reports an investment income durfng the year of £93,057 1£92.606- 2024, £92,651.. 2023} from CCLA, plus CAF bank inleresl of £1,1821£795= 2024} available for grants. This Charity recewed £28,315 from the David Gibbons Foundation for office costs incurr in 2024 and 2025. On 31st March 2025 funds were CCLA Ethical were £1,549.620 1£1.717,433.' 2024. £1,563.792: 20231 and CCLA Property £841,870 {£830,161: 2024, £875.314. 20231. This Charity also continuos to hold an investm8nl in Hydro Hotol Easlbourne plc. inherited from the Estate of MSSS Vera Glbbofts. Dividends of £5351£749- 2024) We received from this investment. The Balance Sheet has fluctuated in value due to financial IuTbulence in global invostmenls. The Trustees noted the value of the Balance Sheel al 31st March 2025 was £2,489,100 1£2,591.751.' 2024, £2,$43.388'. 20231 As always. the Charlly trles to kevp ¢JrriLg costs paid from Unrestricted Funds as Small as posslblg. maximising Income avallable for grarts continues to be the financial priority. Support (*Jsts, after the monthly 'cost recharge. to DGF. amounted lo £17.9051£13,817 in 20241. Thls represents just 18 of income. reflecting the efficienw of management and office policy. However, as noted abDve. the Charily received £28.315 from the DGF to cover 2 years of the remainder of office &)sts Ih8t were not reimbursed to the DGF on a monthty basis. This means that 100% of income has been used in grants for both 2024 and 2025. Pagg 4
The Gibbons Family Trust Trustees, Report (continued) Rpserve$ and Investment pollcy The reserves of The Gibbons Family Trust are made up of an Unrestricted and Expendable Endowment Fund. The Trustees are satisfied that the current balance of investment is as good and as safe as the current financial situation can provide. The reserves of the Endowment Funds remain invesled with CCLA Investment Management Ltd. The Trustees will continue to monitor dosely all dividends received and capitsl values as well as the balan beeen the funds. The Trustees also watch the fluctuation in the fund valu6s, for future potential opportunity to further withdmw funds. when requlred to boost the Unrestricted Fund. In the Unrestricted Fund the Trustees operate a 'zero level p)licl, aiming to spend each year all the income available to them from Investments (after allowing for minimal Offi expenses). However, a capital cash balance of £54.850 is included in the year end Mrilh unspent Unrestricted Reserve5. £50.000 was drawn down in both April and December 2024 anticipating increased future grant spending. In combination with the retharge from The David Gibbons Foundation of £28.315 for office costs in the prior year, this has given the Trustees much greater flexibility wth grant making and is sho¥Nn by the excess of expenditure1£166,747) over income1£123.089). This allowed £51.852 more than income lo be spent on grants with unspent reserves (£79,420) available for future grants. Statgment of Trustees. Responsibllltles The Trustees are responslble for preparing the Trustees, report and the financial statements in accordance with the United Kingdom AGcounling Standards (United Kingdom Generally Accepted Accounting Practicel and applicable law and regulations. The law applicable to charitses requires the Trustees lo prepare financial statements for each finanaal year which give a true and fair view of the stale of affairs of the Charity and of the incomirbg resources and application of resjceS of the Charity for that period. In preparing these financial slatemenls, the Tnjslees are required to.. select suitable accounting polides and then apply them consi5tsnlly; observe the methods and principles In Ihe Chari118s SORP-, make judgements and estimates that are reasonable and prudent., slate whether appllcable accounting stsndard¥ have been followed. subjeGt to any material departures disclosed ?nd explained in the financial slalements.. and prepare the financial slalements on the going concern basis unles5 il is inappropriate to presume that the Charlty will continue in business. The Tnjstees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the Charity and enable them to ensure that the financial ststements CDmply with th8 Charities Act 2011. the Charib'es (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the pr8venlion and detection of fraud and other irregularities. The Trustees arg responsible for the maintenance and integrity of the corporatè and financial inform8tion induded on the charitable companls website. Legislation governing the preparation and dlsseminalion of financial statements may differ from legislatlon in other jurisdlctions. Page 5
The Gibbons Family Trust Trustees. Report (continuod) The annual rgFQrt was approved by the Tnjstees of the Charlty on ....... b8half b. Signed on Its DrJo Frankish and Trustee Page 6
The Gibbons Family Trust Independent Examiner's Report to the trustees of The Glbbons Family Trust I report to Ihe Trustees on my exawninalion of th8 accounts of The Gibbons Family Trust the year ended 31 March 2025. Responsibilities and basls of report As the Charity Trustees of The Gibbons Family Trust you are responsible for the preparation of the accounts in accordance w((h the requirements of the Charities Act 2011 Ilhe Act,). I report in respect of my examination of the The Gibbons Family TTusVs 8ccounts rarried out under section 145 of the 2011 Act and In cary'ng out my exarninalion I have followed all the applicable Directions given by the Charity Cornmission und@r section 145151{bl of the Act. Independent examlnerfs statement I have ¢ompleled my examination. I confimi that no material matters have come lo my altention in connedion with the examination giving me cause lo believe that in any maleTial Tesp8Ct'. 1. accounting records were not kepl in respect of The Gibbons Family Trust a8 requlred by seGlion 130 of the Act. or 2. the accounts do not accord with those records- or 3. the accounts do not comply wtih the accounting requirements C(cerning the fom and content of accounts set out in the Charities {Accounls and Reports) Regulations 2008 other than any requiremenl that the accounts give a 'lrue and fair view, which is not a matter considered as part of an independent examination. I have no concems and have com& across no other matters in connectlon wrth the examination to which attention should be drawn in thls report In order to enable a proper understandlng of thg accounts to be reached. Calherlne Williams FGA DChA Independellt Examiner Westcotts {SWI LLP 47 Boutport Street Barnstaple Devon EX31 1SQ Dale:.30 Page 7
The Gibbons Famlly Trust Statement of Financial Actlvities for th8 Year Ended 31 March 2025 Unrostrlctsd Endowment funds funds Total 2025 Total 2024 Note Income and Endowments from". Investment income Other income 94,714 28,315 94,774 28,315 94,196 Total income 123,Q89 123,089 94,196 Expenditure on: Charitable activities 1166,7471 166,747 (155.0701 Total expenditure Gainsl(Ioss8s} on investments {166,7471 1166.7471 1155,070) 58,993) 58,993 109,237 Nel lexp8ndilureyincome Gross transfers been funds {43,6581 {58,9931 1102,6511 48,363 100,000 1100,0001 Nel movement in funds ReconGillatlon of funds Total funds brought forward Totsl funds carried forward 18 56,342 {158.9931 1102.651) 48,363 23,078 79,420 2.568.673 2.591,751 2,543,388 2,591,751 2,409,680 2,489,100 All of the Charity's activrties derive from continulng operallons during Ihg above Iwo periods. The funds breakdown for 2024 is sh¢)wn in note 18. The notes on pages 10 to 18 fom7 an integral part of the39 financial statements. Page 8
Thg Gibbons Family Trust (Registration number: 290884) Balance Sheet as at 31 March 2025 2025 2024 Note Flxod as$gts Tangibl8 assets Investments 13 14 1,265 2,409.680 2,410.945 1,064 2,568,673 2,569.737 Curr&nt as80ts Debtors Cash at bank and in hand 15 16 1,620 82,467 5,016 38.497 84,087 43.513 Crodltors: Amounts falling due within one year 17 15,9321 21,4991 Net current assats 78,155 22,014 Net assets 2,489,11Y) 2,591,751 Funds of tho Charity: Endowment funds 2.409.680 2,568.673 Unrestricted Incomfr funds Unreslricled funds 79,420 23,078 yal funds 18 2,489,100 2,591,751 The fina on ..%l cial stst8ments on pages 8 to 18 were approved by the Trust8&s, and authorised for issu8 signed on their behalf by= Dr n Frank Chair and Trus DT Clivg Stubbings Vice-chair and Trustee The notes on pages 10 to 18 form an Integral part of these financial ststements. Page 9
The Gibbons Family Trust Notes to the Financlal Ststements for the Year Ended 31 March 2025 1 Accountlng pollcies Statemgnt of compllanGQ The financial slalements have been prepared in accordance with the second editton of the Charities Stslemenl of Recommended Practice Issued in October 2019, the Financial ReporUng Standard applicable in the Unitsd Klngdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basis of preparatlon The Gibbons Family Trust meets the definition of a publ benefit entlty under FRS 102. The accounts (financial 8talemenlsl have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant nolelsl to these accounts. Going concern The Trustees consider that there are no material uncertalnties al)out the Choritys ability to (a)ntinue as a going concern. Income and endowments Inveslm•nt Income Dividends are recognised On the dividend has been dedared and notificolion has been receNed of the dividend due. Expenditure All expenditure is recognlsed once there is a legal or constructive obligation to that expenditure. il is probable setuemenl is rgquired and the amount can be measured reliably. Al costs are allocated to the applicable expenditure heading that aggregate slmilar costs to that category. Where costs Cannot be direGUy attributed lo particular headings they have be&n allocated on a basis consislenl with the use of resources, with central staff costs allocated on the basis of lime spent, and depreclalion harges allocated on the portion of the asset's use. Olhor 8UPPOrt costs are allocated basgd on the spread of staff costs. Charltable actlvitios Charitable expendlture comprises those costs incued by the Charlty in the delivery of its activities and servicgs for Its bgneficlaries. It Indudes both costs that can be allcKaled dlreclly to such activities and those costs of an indirect nature necessary lo support them. Grantprovlsions Provislons for grants are made when tha intention to mak8 a grant has been communicated to tho rgcipienl bul there is uncertainty about either the timing of the grant or the amount of grant payable. Support wsts Support costs Includo central function5 and have been allocated to activity cost categories on a ba$is consistent with the use of resources, for gxample, allc¢atlng propety costs by floor areas, or per caplta, staff cos18 by the tlme spent and other costs by Ihelr usage. P8g& 10
The Gibbons Family Trust Notes to the Flnanclal Statements for tho Yoar Ended 31 March 2025 (Gontinued) Tangible flxed assets Individual fixed assets costing £100 or more are inltially recorded at cost, less any subsequent accumulated depreaation and subsequent accumulaled impairment losses. Depreclallon and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated r8sidual value. over their expected useful economic lrfe as follows: Asset class Fixture, fittings and equlpmgnl Computer equipment Dgpreciation mgthod and rate 15% reducing balance 33Vo reducing balance Fixed assgt Investments Fixed asset investments. other than programme related Snveslm8nts, are Included at market value at the balance sheet dale. Realised gains and losses on investments are calculated as the difference between sales proceeds and Ihelr market value at the start of the year, or Ih8ir subsequent cosl. and are charged or credited to the Ststement of Financial Activities in the period of disposal. Unrealised gains and kjsses represent the movement in market values during Ihe year and are credited or Charged lo the Slalement of Finanaal Activltles based on the mafket value at the year end. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and (311 dgposits, and other short-tem) hhlY liquid investments that are readily convertible lo a known arnount of cash and are subject to a insignificanl rlsk of thange in v81ue. Fund structure Unrestricted income funds are general funds that are avallable for use at the Trustees dlscretion in furtherance Df the objeclives of the Charity. Financial Instruments Classlflcation Financial assets and flnancial liabilibes are recognised when the Charity bgcomes a party to the contractual provisicS of the instrument. Financial liabilities and equity instruments arg clas5rfied according to the substance of the contraclual 8rrangemetbts entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of ils liabilities. Page11
The Gibbons Family Trust Notes to the Flnancial Statements for the Year Ended 31 March 2025 (continued) Re¢ognitlon and measuremont All finanual ass@ts and liabilities are initially measured at transaction price (including transaction costs), except for those finanaal assets dassified as al fair value through profil or loss. which are initially measured al falr value Iwhich is normally the transaction price exduding transaction wslsl, unless the arrangemenl conslSlutes a ftnancing Iransaclion. If an arrangement nstItuteS a financing transaction. the financial asset or financial liability is measured al the pfft5ent value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabililtes are only offset in the slelement of financial position when, and only when there exists a gallY enforceable right lo sel off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultsneously. Financial assets are derecognised when and only when a} the contractual rights to the cash flows from the financial a5sel expire or a settled. bl the Charity transfers lo another party subslanlially all of the risks and rewards of ownership of the financial asset, or cl the Charity, despite having relalngd some, but not all, significant risks and rewards of owngrship. has transferred control of the asset lo another paty. Finandal liabilities are derecnIyed only when tha obligatlon speclfied in the contrad is dlscharged. cancelled or expires. 2 Invastment in¢om• Unreslrlct funds Total 2025 Bank interest receivable Investment incorne 1,182 93,592 1,182 93,592 94.774 94,774 Unrostrlctod funds Totsl 2024 Bank interest receivBble Inv8stmenl income 795 93.401 795 93.401 94,196 94,196 3 Other Income Unrnstrictsd funds Total 2025 Totsl 2024 Reimbursement from The David Gibb(Ms Foundation 28.315 28,315 This amount was repaid In lieu of 2 years of the office cos18 that were not reimbursed by the Davvj Gibbons FoundatK)n during the course of the financial year, on a monthly basis. Page 12
The Gibbons Family Trust Notes to the Flnanclal Statements for the Year Ended 31 March 2025 (continued) 4 Expgndituro gn charitable activltle$ Unrestrlctgd funds Total 2025 Note Grants paya18 Support costs 148.842 17,905 148,842 17.905 166,747 166.747 Unrestricted funds Total 2024 Note Grants paydble Support Costs 141,253 13,817 141,253 13,817 155,070 155,070 S Analysis of support costs Grant funding support cost$ Total 2025 Total 2024 (Profityloss on disposal of tsngible fixed assets Bank charges Depreciation of computer equipment Wages and salaries staff pensions Trustees expenses Insuranca Telephone Office exp&ns8S Computer costs Sundry expenses Intercharity recharge Independent examinerfs fee 226 60 226 60 60 387 22.907 499 55 609 252 470 3,163 119 113,2581 2.436 367 22,907 499 55 609 252 470 3,163 119 113,2581 2,436 531 17,151 329 53 850 234 78 2.468 {10,2591 2,322 17.905 17,905 13,817 Pag8 13
The Glbbons Family Trust Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) JI support costs lolalling £17,905 were p&icl from unrestriGtsd funds12024.' £13.8171. The Inlercharity recharge is an amount recelved regularly from The David Gibbons Foundation, wllh whom the Gibbons Family Trust shares resources and services of the Trust Manager, employ8e by the Gibbon5 Family Trust. All admlnislralion and g0veMan costs, other than thos& sptscfflcally attributable to each charity are shared equaltv, pald initially by the Gibbons Family Trust and reimbursed by the Davld Gibbons Foundation. The Gibbons Family Trust has capital funds invested with CCLA Investment Management Ltd. CCLA income is received nel of investment fees. 6 Anatysis of grants 2025 2024 Grants to oryanisations Grants to organisatlons and charitios in Devon Grants to organisations and charities in The Isle of ThaneL Kent 99,402 36,360 103,123 31,480 135,762 134,603 2025 2024 Grants to Indlvlduals Grants to SndNiduals 13.080 A full Ilst of grants made is Includgd in the appendLx. 7 N•t Incomlngloutgolng resourcos 2025 2024 Depreciation of fixed as$e15 367 531 8 Net (losso5)Igalns on Investments 2025 2024 Galnslllossesl on investments 58,9931 109.237 9 Trustges remungratlon and expenses No Trustees. nor any persons connect9d with them. have received any r8muneration from thg Charity during the year. The Charity has incurred trustee expenses totalling £5512024: £53). Page 14
The Gibbons Family Trust Notes to the Flnancial Statements for the Year Ended 31 March 2025 (Continued) 10 Staff costs The aggregate payToII Ix>sts were as follows: 2025 2024 staff costs durlng tho ygar were: Wages and salaries Pension costs 22,907 499 17,151 329 23.406 17.480 The average head count of employees durlng the year was 1 (2024: 11 No employee rèceived emoluments of more Ihan £60,000 during the year 11 Independent examinevs remuneration 2025 1024 Independent examination fees 2,436 2,322 12 Legacles Under the terms of the Will of the late Mr D Gibbons thos Charity is a w)tential benefiryary of a Discretionary Trust Fund with capital value at 31 March 2025 of £28,53512024-. £31,880). The other potential beneficiaries are the David Gibbons Foundation 8nd Mr Kevln Banfield, a form9r omployee of Mr Gibbons. Page 15
The Gibbons Famlly Trust Notes to the Financial Statsments for the Year Ended 31 March 2025 (continued) 13 Tanglblo fixed assets Fixture & Fltting$ Computer equlpment Total Cost Al 1 April 2024 Additions Disposa15 At 31 March 2025 164 4,696 4.860 19731 4.517 19731 164 4,681 Depreciatlon At 1 April 2024 Charge for the year Eliminated on disposa18 At 31 March 2025 164 3,632 367 1747 3.796 367 1747 164 3,252 3,416 Net book valutr At 31 March 2025 1,265 1,265 Al 31 March 2024 1,064 1.064 14 InveBtsngnts CCLA Property Other Fund Sharoholding CCLA Ethlcal Fund Total Cost or Valuatlon At 1 April 2024 Fair value movgmenls Disposals At 31 March 2025 1.717.433 167,813) {100.000 830,161 11.709 21,079 12.889) 2,568.673 (58.9931 1¢,000 1.549,620 841.870 18.190 2.409.680 Net book value At 31 March 2025 1.549,620 841.870 18.190 2.409.680 All investments shown 8re held at valuation. Page 16
The Gibln$ Family Trust Notes to the Flnanclal Ststements for the Year Ended 31 March 2025 (continued} 15 Debtors 2025 2024 Prepayinents Other debtors 1.620 1,560 3,456 1.620 5.016 16 Cash and cash equlvalents 2025 2024 Cash at bank 82,467 38,497 17 Credltors: amounts lalllng due wlthln one year 2025 2024 Other taxation and social security Other creditors Accrua15 2,996 500 2,436 1.677 17,500 2,322 5,932 21,499 18 Funds Balance Balance at31 March 2025 Other April Incoming Resources recognised 2024 resources gxponded Tran$f¢rs gainsl1105ses1 Unr&strlcted funds General Funds 23.078 123,089 1166.7471 100,000 79,420 Endowment funds Expendab18 Endowment Funds 2,568,673 {100,000 {100,000 58.993 2.409,680 2,568.673 58.9931 2,409,680 58,9931 2,489.100 Total funds 2,591.751 123,089 166,747 Page 17
The Glbbons Famlly Trust Notes to the Financial Statements for the Year Ended 31 March 2025 (continuod) Balance at 1 Aprll 2023 Oth•r Resources recognised 8xpended galnslllo8ses) Balance at 31 March 2024 Incoming resources Unr8strlcted funds General Funds 83,952 94,196 (155,070) 23.078 Endowmont funds Expendable Endowment Funds 2.459,436 2.459,436 2.543,388 109.237 2,568,673 109,237 2.568,673 2,591.751 Total funds 155.070 109,237 19 Analysis of not assets between funds Unre5trlGtod funds General Endowment funds Expèndable Total fund$ at 31 March 2025 Tangible fixed assets Fixe(J asset investments Current assets Curr8nt liabilities 1.265 1,265 2,409.680 84,087 5,932 2,409.680 84,087 15,9321 79.420 Total nat assets 2.409.680 2,489.100 Unrestrlcted funds General Endowment funds Expendable Total funds at 31 March 2024 Tangibl& fixed assets Fixed asset investments Current assets Current liabilities 1,064 2.568.673 43,513 21.499 2,568.673 43.513 21,499 Total net ass8t8 23.078 2.568,673 2.591,751 20 Relatsd party transactlons There were no relalod party transaction8 in the year. Pag8 18
The Gibbons Family Trust Appendix l.Grantsto owg•nl¥otlonsiisted alphabl¢allY IstBr8dninchScouts 21 Together 5th NorthDevonScoLrtGmup Action Easi Devon AiISaiMsAcademy Amber Foundation 1.620 Mamato Mama 2.000 maryT&vICtorymernOrlal Recreatton GrDundTrust i.O(H) MayfieldSpeci8lSchool,Torbay 4.000 Oasis Domestlc Abuse SeNce 818 OnThe HIUCIC 3.000 Paddle Media 2,500 PIÈ Factorymuslc I.SCj PblstowHIUPrlmarySthool 1.5C4) PstIC Free NorthDe¥on 2,OC¥) RÈadloiGood 1.000 Sir Francls ChlthÈ$terTrust 1.000 Sirona TherapeLrtic Hor8emanshlP 2.000 Skate MoitonCIC 1.500 SDundGaileryCIC 2.000 SouthDartrnoorCommunityCoiiege I.QOO SoLrthHamsAieaWeUbeinglSHAWI 1.000 SoLrthwaYPlaare 3.000 StNSCho5Atwade Prlmary PTFA 5.000 StandAuah$tVioience- 2.000 ThanetCommuntyDeveiopmeMTrust 1.000 ThanetFood Llnk 1.200 The Burtonat Bldeford 1.000 The Communwwaffle HouseCIC 2.000 The HfveThanetCIC 959 The Hollow Laneclub 2,000 The LIn8P¥Snt1S1rU$f I,ODO TheWlndProlect 1,000 Theyoung Lb¥es Founthtlon 1,480 TheatreAI 2.000 Torsupportsèlces 1.680 Toines AuralArea YtyJthEOleMentfr1YEI 2.000 Trall81azer$Educatlon 2.000 TwlnTl8ersCommunityPartner$hip(JC 1.826 Weilmoor Imoretonhampsiead DevelDpmentTrustl Woothanders Pfeschool YMCA ExeteTCoMmUtyPrOJeCts 1.000 YourLwesVsCaYer 2.000 YouthArts HealthTvu 1.750 YtyJthMentslHealth Foundatlon 4.000 1.000 2.000 5.000 1.500 1.000 2,500 2.000 1.500 1.500 1,5Tr) i.o(y) 3,000 1.000 1.500 2.000 1.500 2.000 1.500 3.000 2.000 1.500 819 2,¢JOO 2,500 i.ooo 1.000 1,000 1.000 3.000 BirchlngronActe Leists Foium BoVeyTr4ceyYouthA¢iionl8oNwTratwYth Café Chlid8rainlnluryTwsi DartsfOUthAFCSwifts Demei7a tltsspice Careforchlidr Drake's C of E PrimarySchoolPTFA EastKentEdUca08US1neS$PaftnerShspLtd £steemTeamCIC ExBud Exploierscouts Exeter Phoenlx Exer Road cotnmunltyPrimarySclL Exmouth Communtycoliege FotonowCIC Frlends ofwillowbank GoBeyond HandlcappedChlidrÈnsActlonGroup Happ+ne55 Outdoors Prolect Happy Days Children's Charity HrfhVlewPrimarySchotrl Hooe PrfmaryAtademy Improving Llves pOth InclUse Sport KentCIC KentEnierylseTrust KentRelugeeAction Nemork Kln8sbrldge SkateparkCcmmurityGroup Libraiies Unlimited Lwe ChanceTrust LWeEducaUonWessex LhR S[C Now Lofigcause Communtyspeclalkhool Made-WeliCommuntylntsre8tComparw MaidstoneAmateurOp8ratl¢ Soclety 1.?50 2.000 500 2.000 1,000 I,oth) 1.950 Total Page 19
The Glbbons Famlly Trust GrantsAppendlx 2- Or8aftlsatlon 8rants over£2,000 E¥mouth Communttycollege Oasls DomeSC Abuse Sec¥ Actlon East Devon Mama to Mam Amber FthTndatlon Exeter Road COMMUtypI1maryscIM)oI Skate MoLtonCIC ThanetCommuThtyDevelopmentTw5t TorSupportSeNkes blblc Pie Fa¢toryMusic The Hoitow Lane Club 5.000 4,1)00 4.000 3.IXJO 3.000 3.000 3.000 2.500 2.500 Total Pagg 20