REGISTERED CHARITY NUMBER: 314141
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
Berringers LLP Lygon House 50 London Road Bromley Kent BR1 3RA
GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024
| Page | |||
|---|---|---|---|
| Reference and administrative details | 1 | ||
| Report of the trustees | 2 | to | 3 |
| Independent examiner's report | 4 | ||
| Statement of financial activities | 5 | ||
| Balance sheet | 6 | ||
| Notes to the financial statements | 7 | to | 10 |
| Detailed statement of financial activities | 11 |
GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 December 2024
TRUSTEES Professor J Willis Dr P Newman R Cunningham PRINCIPAL ADDRESS 1st Floor MILE House Bridge End Chester le Street Co. Durham DH3 3RA REGISTERED CHARITY 314141 NUMBER INDEPENDENT EXAMINER Berringers LLP Lygon House 50 London Road Bromley Kent BR1 3RA
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
REPORT OF THE TRUSTEES for the year ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 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 (FRS 102) (effective 1 January 2019).
CHAIRMAN'S REPORT
The Charity was established by Deed of Trust on 11 July 1899 as a result of an appeal by Lord Kitchener to the British public. The purpose of the appeal was to honour the name of General Gordon by providing for the education of the people of Sudan.
The fund is managed by Evelyn Partners. The income of the fund at 31 December 2024 was £33,144 and the expenditure was £106,096.
Details of the expenditure are as follows:
| Awards to individuals | £67,163 |
|---|---|
| Grants to institutions & other charities | £10,000 |
| Expenses | £15,405 |
| Investment & Management Charges | £13,528 |
One hundred and one students benefited from the funds and many more through the grants that were made to the Windle Trust.
OBJECTIVES AND ACTIVITIES
Objectives and aims
To extend and improve the condition and education of the natives of the Sudan.
Significant activities
The charity supports higher education of Sudanese and South Sudanese across a range of academic disciplines. It also works with other charities operating in the same field.
Public benefit
The trustees consider the objectives and aims of the Trust described above, enable it to meet its obligations to the Charity Commission.
FINANCIAL REVIEW
Investment policy and objectives
The trustees are seeking to consolidate the income from the investments to be in a better position to maximise income for awards and they consider the investment performance satisfactory.
Reserves policy
The trustees consider maintaining reserves high enough to generate sufficient funds for awards.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The Trust has no employees and is run by the trustees who receive no remuneration.
Related parties
The Trust is related to Kitchener School of Medicine Trust Fund by way of mutual trustees.
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
REPORT OF THE TRUSTEES for the year ended 31 December 2024
11 April 2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Professor J Willis - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
Independent examiner's report to the trustees of Gordon Memorial College At Khartoum Trust Fund
I report to the charity trustees on my examination of the accounts of Gordon Memorial College At Khartoum Trust Fund (the Trust) for the year ended 31 December 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 145(5)(b) 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 2. the accounts do not accord with those records; 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.
Ricky Hutson BSc FCCA ACA
Berringers LLP Lygon House 50 London Road Bromley Kent BR1 3RA Date: .............................................
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Charitable activities Awards Other Total Net gains on investments NET INCOME/(EXPENDITURE) Transfers between funds 8 Other recognised gains/(losses) Gains/(losses) on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Unrestricted Restricted Total fund funds funds £ £ £ 15,679 17,465 33,144 48,191 28,972 77,163 18,991 9,942 28,933 67,182 38,914 106,096 18,790 19,157 37,947 (32,713) (2,292) (35,005) 3,109 (3,109) - 55,645 63,107 118,752 26,041 57,706 83,747 909,029 988,674 1,897,703 935,070 1,046,380 1,981,450 |
2023 Total funds £ 17,325 69,037 23,287 92,324 170,107 95,108 - (7,421) 87,687 1,810,016 1,897,703 |
|---|---|---|
The notes form part of these financial statements
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
BALANCE SHEET 31 December 2024
| Notes FIXED ASSETS Investments 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 881,452 151 65,368 65,519 (11,901) 53,618 935,070 935,070 |
Restricted funds £ 1,006,653 - 51,989 51,989 (12,262) 39,727 1,046,380 1,046,380 |
2024 Total funds £ 1,888,105 151 117,357 117,508 (24,163) 93,345 1,981,450 1,981,450 935,070 1,046,380 1,981,450 |
2023 Total funds £ 1,850,025 151 49,027 49,178 (1,500) 47,678 1,897,703 1,897,703 909,029 988,674 1,897,703 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 11 April 2025
............................................. J Willis - Trustee
The notes form part of these financial statements
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024
1. 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 102) '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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 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.
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.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Income from investments | 33,144 | 17,325 |
continued...
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
During the year the sum of £812 was paid to three trustees for reimbursement of travelling and subsistence expenses incurred during the year.
| 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Investment income 8,330 8,995 EXPENDITURE ON Charitable activities Awards 27,420 41,617 Other 14,843 8,444 Total 42,263 50,061 Net gains on investments 82,990 87,117 NET INCOME 49,057 46,051 Transfers between funds 31,861 (31,861) Other recognised gains/(losses) Gains/(losses) on revaluation of fixed assets (5,029) (2,392) Net movement in funds 75,889 11,798 RECONCILIATION OF FUNDS Total funds brought forward 833,140 976,876 TOTAL FUNDS CARRIED FORWARD 909,029 988,674 |
Total funds £ 17,325 69,037 23,287 92,324 170,107 95,108 - (7,421) 87,687 1,810,016 1,897,703 |
|---|---|
continued...
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2024
5. FIXED ASSET INVESTMENTS
| At 1 January 2024 Additions at cost Disposals at carrying value Gains/(Losses) At 31 December 2024 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS Net movement At 1.1.24 in funds £ £ Unrestricted funds General fund 909,029 22,932 Restricted funds Centenary Appeal General Fund 1,815 - Centenary Appeal Medical Fund 1,294 - Phillipa Maghrabi Bequest 985,565 60,815 988,674 60,815 TOTAL FUNDS 1,897,703 83,747 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 15,679 (67,182) Restricted funds Phillipa Maghrabi Bequest 17,465 (38,914) TOTAL FUNDS 33,144 (106,096) |
Market | Market | Market | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Cost | Value | ||||||||
| 1,769,084 | 1,850,025 | ||||||||
| 587,683 | 592,491 | ||||||||
| (667,328) | (691,338) | ||||||||
| - | 136,927 | ||||||||
| 1,689,439 | 1,888,105 | ||||||||
| 2024 £ 151 2024 £ 24,163 Transfers between funds £ 3,109 (1,815) (1,294) - (3,109) - Gains and losses £ 74,435 82,264 156,699 |
2023 £ 151 2023 £ 1,500 At 31.12.24 £ 935,070 - - 1,046,380 1,046,380 1,981,450 Movement in funds £ 22,932 60,815 83,747 |
||||||||
continued...
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2024
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.23 £ Unrestricted funds General fund 833,140 Restricted funds Centenary Appeal General Fund 1,815 Centenary Appeal Medical Fund 1,294 Phillipa Maghrabi Bequest 973,767 976,876 TOTAL FUNDS 1,810,016 Comparative net movement in funds, included in the above are a Incoming resources £ Unrestricted funds General fund 8,330 Restricted funds Phillipa Maghrabi Bequest 8,995 TOTAL FUNDS 17,325 |
Net movement in funds £ 44,028 - - 43,659 43,659 87,687 s follows: Resources expended £ (42,263) (50,061) (92,324) |
Transfers between funds £ 31,861 - - (31,861) (31,861) - Gains and losses £ 77,961 84,725 162,686 |
At 31.12.23 £ 909,029 1,815 1,294 985,565 988,674 1,897,703 Movement in funds £ 44,028 43,659 87,687 |
|
|---|---|---|---|---|
The Centenary Appeal funds were appeals made to raise funds for the University of Khartoum and the medical school. During the year, these funds were closed and the balances transferred to the general fund.
The Phillipa Maghrabi bequest represents a bequest by Phillipa Maghrabi during 2011, the income from which is to be used in the education of Sudanese women.
9. RELATED PARTY DISCLOSURES
The Kitchener School of Medicine Trust Fund has similar trustees to The Gordon Memorial College Trust Fund and is, therefore, deemed a related party to the charity. The balance due to the charity by The Kitchener School of Medicine Trust Fund at the year end was £151 (2023 - £151). There were no transactions during the year. Both trust funds are based at the same address.
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GORDON MEMORIAL COLLEGE AT KHARTOUM TRUST FUND
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024
| INCOME AND ENDOWMENTS Investment income Income from investments Total incoming resources EXPENDITURE Charitable activities Grants to institutions Grants to individuals Other Bookkeeper Honorarium Independent examination Management fees Sundries Support costs Finance Bank charges Other Telephone, PPS & website Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net (expenditure)/income |
2024 £ 33,144 33,144 10,000 67,163 77,163 5,000 3,000 1,650 13,528 1,598 24,776 2,668 1,489 106,096 (72,952) 37,947 (35,005) |
2023 £ 17,325 17,325 18,894 49,828 68,722 5,000 - 1,500 15,254 300 22,054 712 836 92,324 (74,999) 170,107 95,108 |
|---|---|---|
This page does not form part of the statutory financial statements
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