REGISTERED CHARITY NUMBER 313877 GILCHRIST EDUCATIONAL TRUST UNAUDITED REPORT AND ACCOUNTS FOR THE YEAR ENDED 28th FEBRUARY 2026
GILCHRIST EDUCATIONAL TRUST REPORT AND ACCOUNTS Contents Page Trusteos. Report lnd•p•ndW EAamih•f• R•wt Statomont of Flnanclal Adlvttles Natal to th• Aecounl* 9.15
GILCHRIST EDUCATIONAL TrUST Referonce and admlnlstratlvo Inf0MtIOn Tru8ts08: Mr C.E.S. Whilbr••d. BSc.{Hons) Chalrnmn Professor S.R. Harrop. LLB Resign8d 24th January 2025 Dr J.H. H8mming, CMG. D.LitL MT8 S. Wm5w, &So S•vgtsry: Mrs J.V. csidIn8. AC.I.S. omc•: 43 Fern Road stoln9t0n Pulborough W8St Suss&x RH20 4LW R•gl•t•r•d O•rfty Numb•r. 313877 Ind•pond•nt Examln•r: Anthony Epton - Charities Partner Golthwins Limited 75 Mygrovo Road West Hampstead LorKlon NW6 2EG Fund Manag•rn: M&G Se¢urities Limited The M&G group M&G Houje Victoria Street Chelmsford E880X CM1 1FB B•nk•rn: CAF Baftk Ltd 25 Kings Hill Avenue Kings Hill W1 1410111 Kent ME19 4JQ CCLA Investment Management Limited Senator House 85 Queen VIGttyl• Street London EC4V 4ET Thls Inf9rnoft Iwms part ¢fts Trust$. rewt ¢n pages 2 t¢ 5
GILCHRIST EDUCATIONAL TRUST Trustees. Report The Trustses have pleasur8 In prwJentirKJ their roport tcKJether with the accwnts for Its year ended 28th February 2025, Structure, Governance and Management Th• maxlmum number of TnM19 Permi by the govffnh in•truth1s fv•. The govéming inslrument is the codicil of 81h Decemb8r 1840 to thè Will of the late The trust was registered as a tharity on 23rd December 1966 and the numb8r 313877 allotted to rt in March 1987. Mothod of Appolntm•nt of Trusto Vacanaes are r8re but when one cKcurs, lh8 remaining Ttea$ seek someone who is qualifieAI by training The appointmont of a is confirnd by Deod. Tru•t•••' R••pon•lblllll•• The Trustees are res81b18 for preparing Iho Truste8s' Anwal ReFNJl and the Financial Statemonts in accordance with applicablo law and United Ifjnm Acxwnting Slandards (United Kingdom Generally A¢wt•d AG¢ountlng PTa¢lke). Th? applKabh to chariliK In and Wal•s r•quirno th• InKI••s to prepare ffinancial stat8ments for each financial year vknich give a true arKI fair view of the state of affairs of tho arlty and 91 lh• incomiThJ rgsourcos and applicaliw of Tesr of the charlty for that wlod. In prepadng these financlal statents, ihe Trusiees are rnqulred to: observe the methods and prirdple8 In the Charities SORP (FRS 102) make Judgements and accounllng estlmatss that are rea8onabl8 and prudent epare th8 Ilnandal $tatomeTrts on tho conc•m bg51F unloss It to presume that the charity 11 contlnue buslne8S stats whether appllcaw UK Acc(wntlng Standard8 (FRS 102) have been followod, 8ubJ•ct to The Tru8tse8 are re8ponsible for keoping Fyoper acwjnting re¢ord8 Ihat di8d080 with rea8onabl8 accuracy at any tim8 tho finan¢ial position of Ihe chanty and en8ble thom to ensure Ihat finanoal statements Ix)mply wrth th? ChaTltig¥ Acl 2011, Iho cfwity (Amints and Rep} R•3ulati(¥1$ 2008 and the pro5108 of the Irust deed. They are also responsible for safeguarding the assets of the chanty and hence for tsking reasonab5e steps lor the wevtion and d•tecl¥Jn of fraufl and other itregulwiti•8. Obj•ctlv•s and Actlvltl•s The INSI cutrenty makes grants lo:. Organlsatlons seeking to flll 8(knakn81 gaps or lo make more wlddy avallable a partlwlar asp8ct of gducation or leamirwj. Indlvlduals who are oilher (a) within 81gM Iho end of a 8¢lf41nwK¥d d•gr•e, QT hlgh•r •duAlJon Ix)urso. ard who aro facing unexpected financkql dsfflcultles vthith may FYev8nt oynpleOn of It or (b) requir8d, as part of a unIvty course, to spend a short perk¥J stsJdylrwJ In another o)unty. n) IN) The trust also offers the annual Gilchrist Fleldwork Award of £15,fxM). This cA)mpetitive award is open to small teams. the leader of whlch and K)St of the team. should hrld established Fsts In British universty departments Page 2
GILCHRIST EDUCATIONAL TRUST Trustees. Report (contlnued) In setting objectives and planning for activibes. the Trustees have gwen due consTrderation to general guidance published by the Charity Commission relating to public benefiL induding the guldanG• Publk è•n•fit: runnlng a {P82)'. Achlevomonts and rfornIanCaS Revl•w of Actlvltles During the year ended 28th February 2025 grants were made to thé following: Twentywv8n organisations were awaffled gr8nts.' £4,000 k> £1,000 eath to Hopg for Ju*ke Intematlonal Needs UK Future Academy Jacaranda LIK F(wrthlion Eduspots Children of Hope Global Care Freedom to Leam Mojatu Foundation WoTld Chlkl Canc Plpal Tree Changlng Lives Malawi Nuestros P•qU•n Hwmanos UK (NPH UK) The Unconnected Foundatlon Care Across Communltles Chlkl In Nood Educats'on for the Children Founda Reachlng the Unreached Laught•r Afyka The 8ook Bus Foundatlon Myume Young Caref8 Afrlcan Adv8ntUrn8 The ITSA Dyital TTUSt Eye Nepal Young Carer8 DevdoyXl TTU6t EdUKAID Klds Spa¢• Total value of grants awardgd £3Q,(O) 2) Indmduals £33,790 was spent on grants to Individuals and ol these 33 were on Travel Grants and 26 on Aduft SW Grants. Pa9• 3
GILCHRIST EDUCATIONAL TRUST Trustees. Report (contlnued) 3) Brltsh Expeditions Applications for Expeditions have been accepted during the year ended 28th Febwary 2025 for ccnslderdll¢n by the Tfustees at thdr mee15ng after the year gnd. Seven grants were made to the following- Unfv•rslty £1.000 Glasgow Glasgow Glasg¢> Newcasde Carnbridge Glas9OW Newcasue Outer Hebrides. Scouand Skalane5, Iceland Tobago. West IrK150s Russell Glacier. Kangerfussuaq, West Greenland Broken Hill. New South Wales, Australia Kho Pharoan, Thalland John Prince Researth Forest, Fort SL James, British Colornbia, Total value of grants awarded £7.000. Through grants to organlsaisons the tNSt has furth•r•d Its obledlv• of ImprovSn9 aducational standards both abroad and in tha Unlted Kingdorn. Th• trusV8 grants to IrKIMduals ha asslstqd th• r•¢lpl•nts to ¢tynplrf• a d•gro• course. which mlght otherwlse had to be abarKlon8d, or to undertake a brfef perlod of siudy 0r&•aS a$ part of a dwree cour8•. Grants to exp6dikn.ons h8lp to meet cosls of tèams from this county (xrrylng out research of a scientific nature in various <x)ntries oversaas. thus adding to the wpu8 of kno? aljout c•rt8ln sdrt subl•cts. Flnanclal Rovl Financial Positlon. Durlng the year the Charitys Income was £116.101 (2024 £109,065) and expendSiure wa8 £104,508 (2024 £104,645) 1¢h re8uft¢d In a 8uW of £11,593 (2024 £4,420). Investment Polky. Th• polky of the Trustees Is to ¢)btskn a maxlmum Incomo r•tum and maintsin the capitsl base in re81 terms. Thair aim is to obtain a capital growth of the portfolio that is in line with inflation. The intention is to ensure thal any investrnents that are made attract onty a moderale rf8k as the Tfusttss do nol wlsh to pul the capltal of the Trust at an unnecessary disadvantage. Ethkal consldgrallons are as determlned by th• managor8 of the COM hwe8tm•nt fvnd8. The grant awards are made and paid in 8ach financial year. Inveslment pdky 8tsteffnt Is consldered ty ts TNstees ch year. Pollcy on reseryes. The onty funds held In reserve are ttK)se required to avohj cash flow probloms. It is the aim of the Trustee5 to distribute in grants all the income received from the Trusfs investments. save thai requlred to meet the of admlnistratlon, tArt achlevlTg thls alm Is dopendont on receSvlng a suffldent numl)er of worthy appll¢atlons.
GILCHRIST EDUCATIONAL TRUST Trustees, Report (contlnued) Rk8k Review. The Trustees are mindful of their duty to ensure that the Trust is not inappropriately exposed to avoidable risk of any nature. Their investment policy and each aspect of fv TNSVS work and admln5th1kM haw been rev5ew¢d and rfsks, both potential and actual. identified. Procedures and safeguards have been put in place to manage th rf8k8. Unrestricted fvnd. Tha balance on the unrestricted fund. which represents the original capital plus any gains or105es on investments held. has increased by £168,173. The balan¢• on tho generdl fur Is £2,166,882 (2024 £1.9B7,116}. Publlc B•noflt The charitable purpose of the Trust is the advancemenl of education. Th6 benefit offered by the Tnjst Is a flnandal one and Is to hap Students wllh èxpeng•s vthllst 8tutylng and to help organisations and 8xpeditions invofved in educational projects. The Tfust r•cel¥os unsdkft•d appllGatlons from a vlth rary of Indfvlduals and organlsallgns and Tru8tse8 Th• trU$t•es vtho *Id offic• durfry th• ywr vM• as follovfi: Mr C.E.S. Whitbread. Bsc (Hons) Prof S.R. Harrop, LLB - Resigned 24 January 2025 Dr J.H. Hammlng, CMG, D.UIL Prof F.L. Pearce, PhD. MTS S. Vllnser, BSC C.LS. Whhbraad For and on behalf of the trustaes Pw5
Independent axamlners rnport to th• trusteos of GILCHRIST EDUCATIONAL TRUST I report to the charitvs trustees on my examination of the accounts of the charity for the year ended 28 F•bNary 2025. Responslbllltlos and basls of report As th? tNslg8s of th& Charfty, you arg rnsponslblo for Iho Prara of th• aG¢ounts In accorda• wlth tho rwlromonts of Charftss A¢t 2011 (Ih• AGt'). Independent examlnorfs 8ts1oment I h•v• wmpl•t•d my 0Minati. I c4)nfirm thot no moterial mottorn h•v• come to my •ltonlion in connection with the examination giving me cause to bèliev8 that in any material rnspect: 1. accountln9 record8 Woro not k•pt In respgcl of th• TNst as roqulr•d by s•ctlon 130 of lh• kt; or 2. tha accounts do not accord wlth those records; or 3. the accounts do not compty with the applicable requirements WrnIng Ihe form and cx)nt8nt of 8c¢¢)unts wt out In th• Charities (A¢¢ounts arKI R•ports) Rogutations 2008 oth•r than any requlrement that the accounts give a ttrue and fair view which is not a matter Csidered as part of an Ind•pend•nl •xamlnatkn. I have no concems and hava come a(Yoss no other matter8 In connectlon wth the examlnatlon to whith attention should be drawn in thi8 report in order to enabla a proper urKler8tanding of the Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG Pag¢
GILCHRIST EDUCATIONAL TRUST STATEMEprf OF FINANCIAL ACTMTIES Unrestrlcted funds 2025 Total funds 2025 Totsl funds 2024 Not•S Income and endowments from: Donations and legacies Inv8Stm8nts Total Incom• 116,101 116.101 116,101 116.101 109,065 109,065 Expondlturo on: Ch8ritsble 8Ctivities - Educ8tion81 Activitias Total exp•ndltur• 104,508 104,508 104.508 104,508 104,645 1Q4,845 Net Income before other r•cognId yln• and IoM•* 11,593 11,593 Net galm on In•tmonts 168,1n 168,173 (163,965) Not movomonts In funds 179,766 179,766 (159.545) R•eonclllatlon of fund• Totsl funds brought forward 1.987.116 1.987.116 2.146,661 Total fund carrlod forward 2,166.882 1166,882 1.987.116 The noles on pages 9 to 15 form part of these accounts. All of the Trusvs ACtivIth are dassed as C$nuIng. Pw7
GILCHRIST EDUCATIONAL TrUST BALANCE SHEEr Unrestrlcted fund 2025 Total Funds 2025 Total Funds 2024 Notss Flx•d As••t Inv•stm•nts 2,022,573 2,022,F13 1,804,400 CuThent Ass6ts Cash at bank 148,962 148,962 189,516 Credltorn: Amounts falllng due wlthln on• *r 653 Net Current Assets 182 716 14•t Asset• 1166 882 2 106,882 1.987,116 Funds 2,166,882 1,987 116 Approved ty tha Trustees and stgned on thalr behalf by C E.S. Whltbrgad Trustees J.H. H•mmlng Date: Tha not8s on pages 9 to 15 form part of Ihase accrxjnts. Pw8
GILCHR18T EDUCATIONAL TRusr Notss to th• accounts 1 aaekground Infornlatlon The Gilchrist Educational Trust is an uninc(X¥MThted charity registered under numbor 313877 wth tha ChaY71i08 Cornri in Erwnd and Wa188, It is a * ben8fft entity.11 is in ErfxI and Wales and ils principal office is at 43 Fem RO1. Storrington. Pultwh, West Sussex RH20 4LW. every part of the world and it (Thitinues to meet Ihis ObclIve through Ihe makiry of grnnts. Basls ofA¢eounHng Th financial statements have been prepared In aGcordance wlh Accountiry and R8porting ty In accordance wth the Flnanclal ReFMyting Standard aP1¢able in the Unlied Kingdom and R8pub15c of lrnl•nd (FRS 1D2) and tho Clwits8 Ad 2011. The accounts aro prepared under the hlstorkxl cost c¢)nvenlk)n, exwt Investrnents whlch are The accounts have been prepargd in occordancfy wlth the Ffnanclal R8FKKiINJ Standard •ppuGae In Unitod and RepubfK Iroland (FRS 102), Thè principal a¢untIng pollae8 whkh hav• baen adopted In th8 prep8ratton of the finand81 8tstements are set wt bekny: Flnan¢l•l In•trunwits- The Chanty accounts for baslc firkinGsal inslNments on initial recOgnitn as per paragraph 11.7 FRS102 SORP. Subsequent measurement is 88 per paragraph 11.17 to 11.19. FRS102 SORP. Cash •t b•nk- Cash at bank and In hand IludeS (ash and short t8m hlghly Ib]uld Inv8Stm8nts wlth a short maturlty of three rrK)nth8 or1088 from ¢he date ol wu18111on or i)P8nlng of Iha d8p081t or similar account. Uobllftle4 - Ll8bllttle$ are re¢th3nlsed vh)ere h Is more Ilkely than Trjt that there Is a18gal or ¢onstruthe obllgation committing the charity to pay out resources and tho amount of th8 Gov•m•nc• •nd •upport co•ts . Support (x)sts have been alocated betwn support Costs and other support. Support costs include central fundICK and have been allocated to aclivty cost costs Involvlng publlc accountsblllty of the dwrtty and Its ry)MplIan wlth regulath)n and good pracllce. The Investrnent8 8re valwj 8nnu81ty at mld-market prfc83. Realised and unrealised gains and losses are credited or debited to the Ststement of Financ•al Investment income Is recognised on the payable date of the distribution. Legacles For tegacios. 6ntitl8m6nt 18 the earti8r of the cthanty ba'ng nobfi8d of an impeThJing distributic notified to th8 charty how8v8r It L8 not posslbl8 to m8asur8 the amount expgctgd to b8 distributsd. On these occasiorts. the legacy is treated as a contiroent asset and disclosed. Grants r8pr8sont those approved for payment whith have begn notified to Ihe recipient in the penod of the accounts. Pa90 8
GILCHRIST EDUCAnoNAL TrUST Notes to the accounts (contlnued) Charitable Athttl•s 2025 2024 Educational actsvrt Grants - G•noral Fund To universib'es for expeditions To or9anlsallons (see bekJw> To individuals Adult study grants Travd study grants Gilchrist Fieldwork Award 10,000 31,171 16,040 17,750 15,000 13,500 14500 15.000 Support costs (Note 4) Othor c<>sts (Note 4) 15,170 15,760 Hope for Ju8tice Intemational Needs UK Futur• A¢ad•my Jacaranda UK FourKlatlon Eduspots Childrnn ol Hop• Global Care Freedom to Leam Mojatu Foundatlon World Child Cancer Pipal Tree Changlng LSve8 Malawl Nuestros Pequenos Hermanos UK (NPH UK) The Unconnected Foundation 4000 1.000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 kl Caro Across Communib88 Child In Need Educatlon for the Chlldren Foundali Reachln9 the Unreachod Laughter Africa The Book Bus Foundation Myllm• Young Car•rs African Adventures The ITSA Dlgital Trust Ey• N•pal Young Carers Development Trust EdUKAID 1,000 1,000 1,000 1,000 1,000 1.000 1.000 1.000 Pago 10
GILCHRIST EDUCATIONAL TRUST Notes to the accounts (contlnued) For th• y•ar •nd•d 281h F•knry 2025 2025 2024 Organisations Bright Sparks School India Children al Risk Just Be A Child Livingstone Tanzania Twst T8fflwa UK Disability Afn'ca Prodigal Bikes Rai88 Gaml%a H8nds Around the Worfd Compass Children's Ch817ty 1.172 1,171 1,171 1,171 1,171 1.171 1.171 1,171 1,171 1,171 1.171 1,171 1,171 1.171 1,171 1,171 1,171 1,171 1,171 1,171 1.171 1,171 1,171 1,171 1,066 K8n8ama Intsracti¥Tr Communty Sup Feed the Minds Tuming Point Tmst African Child Trust The Karen HHllrlbe8 TnKt African Reviv81 Anthem Muw'c CIC NIGokoJo Nelwth Comfort Int6m8tional Mondo Foundation Project Pen1 Case Our Mo¢>n Educati Awamu R68d for Good Totsl value ofgrnnts &wad£31, 171 Pag• 11
GILCHRIST EDUCATIONAL TRUST Notss to the accounts (contlnued) Support Other Support Other Costs Costs 2025 Costs Costs Administration 2024 Secretarfs fees Grants Officer Gov8TTh3nGe costs Printing, postage & stationery Trnvelllng exp Sundry expenses Admlnistration of Gilchrist Fipk5work Award Bank charges Insurance 7,933 5,072 9,916 8,545 2,136 4072 5,052 1,200 IJOD 10,681 5.052 1,2CKI 121 121 17 17 226 414 279 303 389 25 1h76 1A70 1,41 1,49D 60 334 267 67 The trust employed one prnn during the year (2024: one). There are no employees who reiVed total employee benefits (exdudlng employers p•nsl¢)n costs) of mor• Ihan £60,0(KI. There are no National Insurance costs or pension contribut10r Incurnd. Supp¢rt ¢o*s hav• boen allocated M tho ba8k8 Ihat tho ¢ts rgpro8•nt dlr•ct costs of administration of the grants provided to re(ipignts. Indepefi oxamlnerfs f••8 of £1,200 (2024: £1,eoo) arè In¢kK In govemancè Flxod A8•at Inv•stments Charifund income units- M&G Equities Investment for Char5ties Charfty Mutti A680t Fund . M&G Charlty Mulli Assat FUTh8 (Equtti and Bofids) Page 12
GILCHRisf EDUCATIONAL TRiIST Notes to the accounts Icontfrnued) Flxed A880t Invostments (conllnu•d) ChaTifvrKI Mthti A35et ncx)me Unitsln(xJme Units G•noral Fund Unil number 108.LXII.8910 / 332,au81 Al8rf(et valu6 al 18t Marth 2024 1,611006 292.395 1,804,400 Investment UnMrad 143,877 24,296 168,173 111,459.8510 133188181 Mwk•t vakm at 28th F• 2025 1,705,812 s10,1 2,02&5n 2025 2024 Sundry credttors.. Accrua18 for grants payable 1,071 3.110 2.082 108 Trade creditors Taxation and 8odal 3eoJrlty 142 Award Commltm•nt Tho trusl •109 offern Ih Gl¢hit of £16,000 (flMY krw)vffl •6 Gllchrlst £10,000 EXpedlOn Award). Thls competitlve award Is offered annualty and Is open to small teams of qualffied academlcs and researchers In 8stabllsh8d FN)sts In untr¥terslty departrnents or research establishments, most of Bribsh nationality, wishing to undertake a a Ileld Season of over slx weeks. The Award was made in 2024 to Dr NiC118S Girkin. Assistant Prof8S80r in Environmental S¢i8n¢8 at Univer8ity of Nottifwam. R•latod Party Tranuctlon• Qno ol the Truste was Tvsmbufsed tho amounl of tr•vthw expen8•• Incurred in connectlon with the Tru8L' Theré arè no other related paty tran88Ctions requwing disrjosure durir*J the year. Page 13
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