REGISTERED CHARITY NUMBER: 311529 Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2024 for The Gyde Charity GCSD Xeinadin 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT
The Gyde Charity Contents of the Financial Statements for the Year Ended 30 June 2024 Page Report of the Trustees I to 6 Independent Examiner's Report Statement of Financial Artivities Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 17 Detailed Statement of Financial Activities 18 to 19
The Gyde Charity Report of the Trustees for the Year Ended 30 June 2024 The Trustees present their report with the financial statements of the Charity for the year ended 30June 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019). OBJEcfivES AND AcfiviTIES Objectives and aims 11} The objects of the Charity are to promote the education of and to relieve the needs of young people under the age of 25 who are: al in need, hardship or distress; or bl who have sight, hearing or speech impairment. 121 The Trustees should give a preference to: a) persons of the protestant faith b) persons who have lost one or both parents; and cl persons who are resident.. li) firstly, in the parish of Painswick, lill secondly in the Old Parliamentary Borough of Stroud, liiil thirdly in the County of Gloucestershire; and liv) fourthly in any other part of the United Kingdom. 131 The Trustees may relieve persons in need by: al making grants of money to them,. or bl providing or paying for goods, services or facilities to those in need. {4) If and insofar as the income of the Charity cannot be applied toward the object specified in clause111 above, the Trustees may apply it for persons who are otherwise qualified but are not Protestants. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grant-making policy for the year. Main artivities undertaken to further the Charity's purposes The Charity has established a clear pattern of income for the years ahead allowing for trends in the investment market. The Charity continues it5 close links with social services and special needs schools in the County of Gloucestershire. Page I
The Gyde Charity Report of the Trustees for the Year Ended 30 June 2024 OBJEcfivES AND AcfiviTIES Public benefit The Trustees are aware of the Public Benefit Provisions of the Charities Act 2011 and of the guidance on them published by the Charity Commission. They are satisfied that the objects of the Charity and the activities of the Charity are within the definitions of Charitable purposes as set down in the Act. The Trustees are not aware of any public detriment caused by the Charity's objects or activities, and nor are they aware of anyone receiving private benefit from the Charity's activities. Grant-making The activities of the Charity are overseen by the Trustees who normally meet at least four times a year. Applications for grants are first received by the Clerk to the Trustees who will make further detailed enquiries if necessary, so that the application can be put before the next meeting of the Trustees. In an emergency the Chairman is authorised to make a decision with the agreement of one otherTrustee. ACHIEVEMENT AND PERFORMANCE Investment performance The value of investments as at year end 30 June 2024 was £2,072,09712023: £1,922,225). The investment income during the year was £54,28912023: £54.528). Donations and legacies received were £38012023: £950}. FINANCIAL REVIEW Principal funding sources The main Source of income during the year was that of dividends received on investments. The total income for the year was £54,669 that included donation5 and legacies12023: £55,478). Investment policy and objectives The investment objective is to balance income and capital returns. The assets should be managed to at least maintain the real long term capital value whilst generating a level of income to support the charitable activities. An investment policy statement is in place to provide a framework for the management of its assets. It is reviewed on an annual basis to ensure its appropriateness. The investment structure is currently under review to increase the income within a safe financial structure. Reserves policy The Trustees, aim is to expend the income of the Charity in the year in which it is generated. Page 2
The Gyde Charity Report of the Trustees for the Year Ended 30 June 2024 FINANCIAL REVIEW- cont Total return policy Trustees have adopted in 2022 a total return policy. It was confirmed that The Charity Commission permission for the Charity to adopt the use of Total Return in relation to its permanent endowment was not required. This power has yet to be exercised. The trustees agreed the base figure for the original fund was established at £1.2m. The trustees expect to draw approximately 1% to achieve the total return of 4%. th The amount of the unapplied Total Return as at year end 30 June 2024 was £872,097. The movements in Unapplied Total Return for 2024 are shown in note 12 to the accounts. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. STRuuRE, GOVERNANCE AND MANAGEMENT Governing document The Charity is controlled by its governing document, an order of the Charity Commission dated 17th August 1999 and constitutes an unincorporated charity. COMMENCEMENT OF AcfiviTIES AND BACKGROUND Charity constitution The Charity was established under the terms of the Will of Edwin Franci5 Gyde by an Order dated 29 July 1909. Two charities were established, the Gyde First charity and the Gyde Orphanage (latterly known a5 Gyde House). The G de First Charit The terms of the Will provided an endowment of £40,000. The income therefrom to be used towards the maintenance, education, training and support or benefit of blind or deaf and dumb children, preferably Protestant. The G de House Chari The benefactor left Gyde House for use as an orphanage. On 30 January 1998, an order of the Charity Commission allowed the house to be sold and the proceeds to be invested. The sale was completed in August 2000. Amal amation of the Charities Under an order of the Charity Commission dated 17 August 1999 the two charities amalgamated to form The Gyde Charity. Page 3
The Gyde Charity Report of the Trustees for the Year Ended 30 June 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The appointment of trustees is handled in two ways.. - Nominated Trustees: The organisation responsible for the appointment of Nominated Trustees is invited to recommend a nomination within the last six months of the nominated trustee's period of service coming to an end. The clerk will inform the Trustees of any proposed changes. Co-o ted Trustees: As the period of service of a co-opted trustee is approaching the end, the Trustees and a suitable person chosen to maintain the breadth of experience and skills of the board will consider all nominations received by the clerk. Organisational strurture Nominated trustees serve for a term of four years. The Co-opted trustee5 serve for a term of five years from appointment. The Trustees have appointed a clerk, Mrs S Baker, to undertake the general administration of the Charity. Induction and training of new trustees Trustees on appointment are made familiar of the Charity's background, its operational framework and objectives and a copy of the Charity's governing document together with the latest financial statements are distributed to them. All Trustees have been provided with a copy of the Charities Commission 'Essential Trustee" Guidance booklet and understand their duties and responsibilities as trustees. Risk management The Trustees acknowledge their responsibility to assess and mitigate the major risks to which the Charity is exposed. The Trustees have conducted a review of the major risks to which the Charity is exposed and, where appropriate, systems or procedures have been established to mitigate those risks relating to fraud and error. Internal control risks are minimised by the implementation of procedures for authorisation of transactions. Page 4
The Gyde Charity Report of the Trustees for the Year Ended 30 June 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 311529 Principal address c/0 Shani Baker Clerk to the Trustees 14 Green Close Uley, Dursley Gloucestershire GLII 5TH Trustees Mr J Parker MSJ Miles Mrs J Nash Mrs A Daniels Dr R Evans Mr Rjones MrA Gyde The Co-opted Trustees serve for a term of five years. The Trustees have appointed Mrs S Baker to undertake the general administration of the Charity. Independent Examiner Mr M Aldridge FCCA GCSD Xeinadin 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 5
The Gyde Charity Report of the Trustees for the Year Ended 30 June 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust governing documents require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing those financial statements, the Trustees are required to select suitable accounting policie5 and then apply them consistently. observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust governing documents. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on and signed on its behalf by: J Parker- Trustee Page 6
Independent Examiner's Report to the Trustees of The Gyde Charity Independent Examiner's report to the Trustees of The Gyde Charity I report to the Charity Trustees on my examination of the accounts of The Gyde Charity (the Trust) for the year ended 30 June 2024. 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 2011 {'the Act,). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 14515llb) of the Act. Independent Examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or the accounts do not accord with those record5; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no 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. Mr M Aldridge FCCA GCSD Xeinadin 701 Stonehouse Park Sperry Way Stonehouse Gloucestershire GLIO 3UT Date.. 11 OC (o£frL io'L Page 7
The Gyde Charity Statement of Financial Activities forthe Year Ended 30 June 2024 2024 Total funds 2023 Total funds Unrestricted Endowment fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 380 380 950 Investment income 54,289 54,289 54,528 Total 54,669 54,669 55,478 EXPENDITURE ON Charitable activities Gyde Field Grants to institutions Grants to individuals 820 9,198 41,593 820 9,198 41,593 4,180 32,845 22,538 Support costs 11,121 11,121 10,028 Total 62,732 62,732 69,591 Net gainslllosses) on investments 169,662 169.662 79,354 NET INCOME/{EXPENDITURE) Transfers between funds 18,0631 19.790 169,662 (19,790} 161,559 65,241 Net movement in funds 11,727 149,872 161,559 65,241 RECONCILIATION OF FUNDS Total funds brought forward 1369) 1,922,225 1,921,856 1,856,615 TOTAL FUNDS CARRIED FORWARD 11,358 2,072.097 2,083,455 1,921,856 The notes form part of these financial statements Page 8
The Gyde Charity Balance Sheet 30 June 2024 2024 Total funds 2023 Total funds Unrestricted Endowment fund fund Notes FIXED ASSETS Tangible assets Investments 2,072,097 2,072,097 1,922,225 2,072,097 2,072,097 1,922,225 CURRENT ASSETS Debtors Cash at bank io 398 12,460 398 12,460 393 738 12,858 12,858 1,131 CREDITORS Amounts falling due within one year li (1,500) 11,500) {1,500) NEf CURRENT ASSErs 11,358 11,358 13691 TOTAL ASSETS LESS CURRENT LIABILITIES 11,358 2,072,097 2,083,455 1,921,856 NET ASSETS 11,358 2,072,097 2,083,455 1,921,856 The notes form part of these financial statements Page 9 continued..
The Gyde Charity Balance Sheet- continued 30 June 2024 FUNDS Unrestricted funds Endowment fund5 12 11,358 2,072,097 1369) 1,922,225 TOTAL FUNDS 2,083,455 1,921,856 The financial statements were approved by the Board of Trustees and authorised for issue on fu <rro£fr(L ryoV(r and were signed on its behalf by: J Parker- Trustee J Nash- Trustee The notes form part of these financial statement5 Page 10
The Gyde Charity Notes to the Financial Statements forthe Year Ended 30 June 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Art 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The Charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows. 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. Expenditure Liabilities are recognised as expenditure as soon as there 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 obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure. Taxation The Charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified 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. Page 11 continued...
The Gyde Charity Notes to the Financial Statement5 - continued for the Year Ended 30 June 2024 DONATIONS AND LEGACIES 2024 2023 Donations 380 950 380 950 INVEsfMENT INCOME 2024 2023 Investment income Deposit account interest 54,278 li 54,528 54,289 54,528 Page 12 continued.
The Gyde Charity Notes to the Financial Statements- continued forthe Year Ended 30 June 2024 GRANTS PAYABLE The total grants paid to institutions during the year were as follows: 2024 2023 Home Start St Roses School The Family Haven Read for Good The Shrubberies Woodland Play Therapy Equine Therapy Centre Windmill Special Needs Charmwell Centre Meningitis Trust John Masefield School Severn Federation Trust Picklenash Junior School Cranham Primary School Cam Woodfield School Owl Centre Woodmancote School Norton Primary School 1,000 11,858 3,000 929 1,000 1,000 569 54 500 1,050 6,756 4,302 2,000 400 400 500 575 45 2,000 800 500 2,000 400 9.198 32,845 The total grants paid to individuals during the year were as follows: 2024 2023 Grants to individuals 41,593 22,538 SUPPORT COSTS Governance costs Management Finance Totals Other resources expended 9,369 1,752 11,121 Page 13 continued...
The Gyde Charity Notes to the Financial 5tatements- continued for the Year Ended 30 June 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no Trustees, remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. Trustees, expenses There were no Trustees, expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES - 2023 Unrestricted Endowment fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 950 950 Investment income 54,528 54,528 Total 55,478 55,478 EXPENDITURE ON Charitable artivitles Maintenance of Gyde Field Grants 4,180 55,383 4.180 55,383 Support and governance costs 10,028 10,028 Total 69.591 69,591 Net gains/llosses) on investments 79,354 79.354 INCOME/IEXPENDITURE) (14,113} 79,354 65,241 Transfers between funds Net movement in funds 114,1131 79,354 65,241 RECONCILIATION OF FUNDS Total funds brought forward 13,744 1,842,871 1,856,615 TOTAL FUNDS CARRIED FORWARD 1369) 1,922,225 1,921,856 Page 14 continued...
The Gyde Charity Notes to the Financial Statements - continued for the Year Ended 30 June 2024 TANGIBLE FIXED ASSETS Assets are not capitalised if the cost is less than £lOO. The Charity owns land at Painswick known as Gyde Field. The land was donated to the Charity in 1913 and has NIL cost. FIXED ASSEf INVESTMENTS Listed investments MARKET VALUE At l July 2023 Additions Disposals Revaluations 1,922,225 {2,4761 152,348 At 30 June 2024 2,072,097 NET BOOK VALUE At 30June 2024 2,072,097 At 30June 2023 1,922.225 There were no investment assets managed outside the UK. Investments have been included in the Balance Sheet at market value. Realised and unrealised gains and losses have been included in the Statement of Financial Activities and allocated to the appropriate fund. 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments 398 393 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 1,500 1,500 Page 15 continued..
The Gyde Charity Notes to the Financial Statements- continued for the Year Ended 30 June 2024 12. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At ljuly 23 At 30 June 24 Unrestricted funds General fund {369} 18,063) 19,790 11,358 Endowment funds Endowment funds 1,922,225 169,662 119,7901 2,072,097 TOTAL FUNDS 1,921,856 161,599 2,083,455 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestrirted funds General fund 54,669 (62,7321 18,0631 Endowment funds Endowment funds 169,662 169,662 TOTAL FUNDS 54,669 162,732) 169,662 161.599 Permanent endowment fund and unapplied funds movement.. Permanent Unapplied endowment total return Total funds At l July 2023 Movements in the reporting period.. Realised and unrealised gains 1,200,000 722,225 1,922,225 149,872 149,872 Total return for the year 149,872 149,872 Unapplied total return allocated to income At 30 June 2024 1,200,000 872,097 2,072,097 Page 16 continued...
The Gyde Charity Notes to the Financial Statements - continued for the Year Ended 30 June 2024 12. MOVEMENT IN FUND5- continued Comparatives for movement in funds - 2023 Net movement in funds At l July 22 At 30June 23 Unrestricted funds General fund 13,744 (14,1131 1369) Endowment funds Endowment funds 1,842,871 79,354 1,922,225 TOTAL FUNDS 1,856,615 65,241 1,921,856 Comparatives for movement in funds - 2023 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended and transfers Gains and losses Movement in funds Unrestricted funds General fund 55,478 (69,5911 114.1131 Endowment funds Endowment funds 79,354 79.354 TOTAL FUNDS 55,478 169,591) 79.354 65,241 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30 June 2024. Page 17
The Gyde Charity Detailed Statement of Financial Activitie5 for the Year Ended 30 June 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donation 380 950 Investment income Investment income Deposit account interest 54,278 li 54,528 54,289 54,528 Total incoming resources 54,669 55,478 EXPENDITURE Charitable activities Maintenance of Gyde Field Grants to institution5 Grants to individuals 820 9,198 41,593 4,180 32,845 22,538 51,611 59,563 Support costs Management Clerk fees Trustees, indemnity insurance Telephone Postage and stationery Website & advertising Rents and room hire Sundries 7,841 547 143 502 284 40 12 7,191 520 185 225 209 72 9,369 8,402 Finance Bank charges Governance costs Accountancy fees 1,752 1,620 Total resources expended 62,732 69,591 Net income/(expenditure) before gains and10sses 18,063) 114,1131 This page does not form part of the statutory financial statements Page 18
The Gyde Charity Detailed Statement of Financial Activities for the Year Ended 30 June 2024 2024 2023 Realised recognised gains and losses Realised gains/(105ses) on fixed asset investments 17,314 Net income/(expenditure) 9,251 114,113) This page does not form part of the Statutory financial Statements Page 19