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. STRu￿uRE, 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