Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
ANIYUAL REPORT AND FINAIYCIAL STATEMENTS
For the year ended 31 March 2024
Company number: 01892360
Charity registration number: 326840

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
REPORTS AND ACCOUNTS
For the year ended 31 March 2024
CONTENTS:
Pages
Legal and administrative information
Directors, Report
9- 11
Independent Auditorfs Report
12
Statement of Financial Activities
(including an iJ)come andexF¢ndiwr¢accounil
13
Balance Sheet
14
Statement of Cash Flows
15-32
Notes to the Financial Statements
Page 2

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
LEGAL AND ADMINISTIUTIVE ItYFORMATION
Company number: 01892360
Charity registration number: 326840
Registered in England and Wales
Trustees and Directors
Hon Capt Adam Gosling RNR
Peter Caplan
Nicholas Giles
Registered Office
The Studio
Correspondence Address:
The Studio
2A Kempson Road
London
2A Kempson Road
London
SW6 4PU
SW6 4PU
Bankers
C Hoare & Co., 37 Fleet StreeL London, EC4Y I BT
CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, MEI 9 4JQ
Solicitors
Edwin Coe LLP, Lincolns Inn, 2 Stone Buildings, London, WC2A 3TH
Auditors
Francis Clark LLP, Towngate House, 2-8 Parkstone Road, DorseL BH15 2PW
Accountants
Anthony & Co Limited, 23 The Drive, London, E4 7AJ
Property advisors
Bidwells LLP, Bidwell House, Trumpington Road, Cambridge, CB2 9LD
Investment advisors
J.M Finn, 25 Copthall Avenue, London, EC2R 7AH
Swiss Life Asset Managers UK Litnited, 55 Wells Street. London, WIT 3PT
Schroder & Co. Limited, l London Wall Place, London, EC2Y SAU
Meridiem Investment Managemen Limited, Riverside House, 2a Southwark Bridge Road, London, SE191
Whitley Asset Management Ltd, 116 Princedale Road, London, W I14NH
Page 3

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
DIRECTORS, REPORT
For the year ended 31 March 2024
The Directors are pleased to present their report togeiher with ihe audited financial statements of the charitable
company ("the Charity") for the year ended 31 March 2024, which also represents the Trustees, report, which is
required to be prepared by Part 8 of the Charilies Act 2011.
The Directors of the Charity are ils Trustees for the purpose of Charity law, as set out on page 3: and throughout the
financial statements are collec(ively referred to as the Trustees.
The financial statements have been prepared in accordance with accounting policies set out on pages 15 to 18 and with
applicable United Kingdom accounting standards. current statutory requirements, the Charities Act 201 I, the
Companies Act 2006 (Charitable Companies), Accounting and Reporting by Chariiies: Statement of Recommeiided
Practice Applicable to Charities Preparing their accounls in accordance with the Financial Reporting Standard
Applicable in the UK and Republic of Ireland (FRS 102) (2nd Edition: effective January 2019) ("Charities SORP")
and the Charity's governing documeni. Legal and administraiive inforn)a(ion sei out on page 3 forn]s part of this report.
Objects and activities for the public benefit
The Gosling Foundation wa5 incorporated on 05 March 1985 and registered as a Charitv on 07 March 1985. The
objects of the Charity, a5 dictated by the Memorandum of Association, are to carry Out any or all of the followin
namely..
The prevention or relief of poverty among the inhabithnts of the United Kingdom and the provision of facilities
for recreation, amateur sport and other leisure time occupation for them generally in the interests of their social
welfare within the meaning of the, now repealed. Recreational Charities Act 1958 and as therein limited;
The advancement of education and training amongst the inhabitants of the United Kingdom generally;
The furtherance of such other charitable purpose5 beneficial to such olthe communities of the United Kingdom a5
the Charity may think fit. and
To make grants to such associations, trusts, societies OT COTPOTations as are established for charitable purposes.
The Trustees regularly review the grant-making policies of the Charity, which currently are=
The Trustee5 will consider applications for grants which are in accordance with the stated object5 of the Charity.
All grants will be approved unanimously by the Trustees" and
The Charity will continue to make grants to individuals only in exceptional circumstances.
The Charity carries oui its objects by awarding grants to a w'ide range of charitable causes as quantified in note 4 to the
financial statements. The Charity aims to disiribuie grants io those charithble organisaiions that the Trustees decide are
in line with the objects of the Charity. By providing such financial support, the Charity seeks to enable other charitable
organisations to achieve their objects.
The Twstees confimi that in accordance with Seciion 17 of the Charities Act 2011, the), have referred to the Charity
Commission's general guidance on public benefit when reviewing the Charitv's aims and objects and in planning their
future grant-making activities.
Page 4

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
DIRECTORS, REPORT (COINTINUED)
For the year ended 31 March 2024
During the year ended 31 March 2024, the Trustees reviewed applications from various organisations and awarded
grants as they collectively considered appropriate. As a resulL grant-giving in the year totalled £3,082,973 (2023..
£3,491,921).
The Trustees committed grants of £3,107:973 (202J £J,504,9?1) during the year. Of this arnounL £1,872,500 (2023..
£1,528,289) was paid during the vear and commitments of £1 ?)5.473 (2023.. £1,976.632) There noted for paiThent in
future years. In addition, grants totalling £25.000 (20?"
£ l J,000) ￿'ere ￿TItten back in the year as a result of
unclaimed or expired commitments. The charitable purposes and details of the various institutions that benefited are
detailed in note 4 to the financial statements.
The following table puts the Charity's grants for the year into broad categories and shows the prior year for
comparison. Full details of the grant recipients are set out in note 4 to the financial statements.
Category
2024 Amount
2024 Number
of grants
2023 An]ount
2023 Number
of grants
Royal Na￿y/RoYal Marines
Youth
6J2.130
57
841,994
38
1,978.J63
108
2,134,227
61
Health
158,000
12
Education
364.980
24
370.700
Other
132.500
Grants written back in the year
Total
(25,000)
(i)
(lJ,000}
{4)
3,082,973
199
3,491,921
118
During the year, 199 grants (20?3- 122) were made in furtherance olthe Charity's object5 to 185 beneficiaries {2023-
119) and I grant (2023: 4) were WTitten back.
The market value of the Charity s investment properties decreased by £8,590.000 to £49,605,000 (202J.' £58,195,000),
on account of the sale of Fusion House during the year as well as an unrealised loss for the year.
At the year end, the value of the listed investment portfolio wa5 £105.893.950 {2023.. £107,162,967). In accordance
'ith their accounting policy, the Trustees have recouni5ed the listed investments in the financial 5tatement5 at fair
value. Further additions were made to listed investment portfolios using cash deposits, with total addition5 for the year
being £20,171,479 (2023.. £33,895:409). £32,683,555 (2023= £12,528,505) of listed investments were di5P05ed of
during the year and total net gain5, both realised and unrealised, amounted to £11,243,059 (2023- net losses of
£4,753,804) for the year ended 31 March 2024.
As at 31 March 2024, the Charity held treasury cash deposits: cla55ified as investments, of £15,280,629 (2023:
£5,547,850).
Overall, investment incorne decreased by £415.804 (2023= increased by £727,875). The Charity received total rental
income from its portfolio of investment properties of £2,114.J98 (2023= £2,6fv1,978). The Charity also received
income from listed investments of £2,315,274 (2023-. £2,450.328). interest of £283.fv18 (2023= £6,027) relating mostly
to cash held in deposit accounts and other income of £30.296 (202)= £38.087).
No donations (2023= £Nil) were received during the year.
Costs of raisino funds. comprising property managemenl expenses of £1 01.691 (2023.. £110.842} and investmenl managers,
fees of £625,05612023: £732,234) are dethiled in note 4 to the financial statements. Governance costs are included in
charitable activities and amounted to £116.71012023: £204.2671.
Page S

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
DIRECTORS, REPORT (COINTINUED)
For the year ended 31 March 2024
Financial review
The Trustees have concluded that all olthe Charity's current funds should be undesignated. The Trustees anticipate
that the current funds will be suificient to meet its cu￿ent and foreseeable obligations.
The Twstees meet regularlv to ensure that Su￿1¢ient funds are held by the Charitv and to review the progress made by
the recipients of previous donaiions and grants. At these meetings. the Trustees also consider whether the investment of
the Charity's funds is appropriate and generates a satisfaciory return.
The Trustees, long-terni aim is to mainthin S￿￿1¢ient levels of invesiments and funds to generate income to fund future
grant-making in the order of £3.5m (2023= £3.5m) per annum in perpetuity. In order to achieve ihis larget, and to
comply with Charities SORP. the Charil! s financial statements show an Unrestricted Income Fund surplus, ￿,hICh the
Trusiees have decided io transfer io the Centenary, Fund. The Centenary Fund was set up b), the Trustees to mark Sir
Donald Gosling s l Ooth birthday in 2029. One or more large projects will be supported in this year and the Centenary
Fund will be used for this purpose.
The Charity is making progres5 towards this aim having total investment income for the year of £4,743:616 (2023-
£5,159,420). The Trustee5 consider the risks associated M'ith the assets in which funds are held and aim to maintain an
appropriate tnix of assets in order to reali5e the lonu.term aim. The Trustees continue to monitor regularlv the value of
investments and their financial performance in order to achieve long-terni targets. The Charity had a net surplu5 for the
year of £13,003:267 (2023.. net deficit £7,535,145) after net gain￿(lOs5eS).
Under the Memorandum and Articles of Association. the Charity has the power to invest any monies of the Charity
upon such investments and in such manner as may from lime 10 time be expedient. To see how expenditure meets
objects of the Charity, please refer to "Progress and achievemenis beloiv.
Progress and achievements
The Trustees and staff launched an online Grant Management System accessed via the FouT]dation's M-.ebsite
(www'.thegoslingfoundation.com) through which applicants 5ubtnit their applications for the Trustees consideration.
This new s)'stem seeks to streamline application5 and coherently provide Trustees ￿'1th infornlation to make their
decisions.
During the year ended 31 March 2024. the Trustees and staff held aTJ in-person meeting ￿'1th property and investment
managers to discuss their respeciive perfornian¢es. deterniine fulure invesimeni opportunities and outline their
requiremenis for retums on the Foundaiion's investmeni. The funds are noH." fully invested.
The Trustees and staff continued to make in-person visits io some grant applicants and grantees where the grant is in
excess of £ 100.000. Visiis were organised at the Trustees. discretion and were conducied to further assess a grant
application that has been made or to folloM' up on the progress of an existing grant. Visits made duriTJg the year ended
31 March 2024 included OUt￿.ard Boun(L The Roundhouse, and Treloar s.
Plans for future periods
The Tru5tees' aim is to distribute in the order of £3.5m during the year ending 31 March 2025 and to review the
progress made by the recipients of previous donatiOTJS and grants to confirm how the Charity's grants have been
applied or regarding projects that the Charity's tundiTJg has made possible.
The Trustees and staff plan to conlinue making in-person visits to both prospective and existing grantees where the
grant is over £1 00,000.
The Trustees are confident that 5u(ficient income will be generdted to enable the Charitv to meet its object5.
Page 6

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
DIRECTORS, REPORT (COINTINUED)
For the year ended 31 March 2024
The Trustees continue to review the Charity's objects to ensure that they reflect their focus areas more accurately.
Structure? governance and management
The Gosling Foundation Limited is a company limited by shares and a registered Charity governed by it5 Memorandum
and Articles of Association dated 5 March 1985.
The Trustees may appoint a person who is willing to act to be a Trustee either lo fill a vacanc}, or as an additional
Trustee. Subject to Article 31, a Trusiee may be appointed undeT ihe Memorandum and Articles of Association to hold
office for life or any other period or upon such ternis in respeci of their reiirement as the Trustees shall at the time of
their appointment deterniine.
Whilst the Trustees are not currently actively seeking new Trustees, they have considered their recruitment,
appointment and training and have agreed that any new Trustee M'ould have to be reputable. professional and selected
based on their suitability for ihe role. As and when a new Twstee is appoinied, Ihey ￿.11] be given a full induction, part
of M,hich is familiarisation with the Charity's governints document. The administration team is responsible for obtaining
relevant training material.
The number of members of the Charity is limited to 50. The Charity currently has three Trustees, as required by the
Charity's Memorandum and Articles of Association.
The Trustees aim to meet once a month to administer the affairs of the Charity. The frequency of meetings May change
in the future.
Principal risks and uncertainties
The major risks to which the Charity is exposed, as identified by the Trustees, have been reviewed and a system has
been established to mitigate those risks. The principal risk and uncertainty for the Charity relates to income generation
in order to be able to award grants and cover oiher cosls. The Charity holds a mixed portfolio of investments and the
Trustees have established a system lo review major risks and to mitigate those risks by regularly reviewing the
portfolio. The exposure of the Charity to price risk, credit risk. liquidity risk and cashflow risk from holding its
investments is therefore considered limited.
Reference and administrative information
The Reference and Administrative infonnation, as well as the Trustees who served during the year, are shown on page
3 of this report.
Page 7

DocusvJn Envelope ID: 30328830-E75H5114CD&0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
DIRECTORS, REPORT (coiYfiNUED)
For the year ended 31 March 2024
ststement of Trustees, responsibilities
The Trustees (who also the director5 of The Gosling Foundation Limited for the purposes of company law) are
responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom
Accounting Standards (United Kingdom Generdlly Accepted Accounting Practice) and applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the
Trustees must not approve the financial ststements unless they are satisfied that they give a true and fair view of the
state of affairs of the charitable company and of its incoming resources and application of resowces, including its
income and expenditure, for that period. In preparing these fu)ancial statements, the Trustees are required to:
Select suitable accounting policies and apply them consistently-
Observe the methods and principles in the Charities SORP"
Make judgments and estimates that are reasonable and prudent"
State whether applicable UK Accounting Standards have been followe￿ subject to ally material departures
disclosed and explained in the financial statements" and
Prepare the fmancial statements on the going concern b&sis Unless it is inappropriate to presume tbat the
charitsble company will continue to operdte.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charitable company's transactions and disclose with reasonable accurdcy at any time the fmancial position ofthe
charitable company and enable them to ensure that the fllmncial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets ofthe charitable company and hence for taking re&sonable steps for the
prevention and detection offraud and other irregularities.
Approved by the Trustees ofthe charity on 07 October 2024 and signed on its behalfby:
Do(￿Signed by..
6A3840A82FA741C...
Hon Capt Adam Gosling RNR
Trustee
Date: 07 October 2024
Page 8

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE GOSLING FOUNDATION LIMITED
Opinion
We have audited the finan￿al ststements of The Gosling Foundation Limited (the 'charity') for the year ended 31 March
2024, which comprise the Stalement of Financial Activities. Balance Sheel, Stalement of Cash Flows, and Notes to the
Financial Statements, including a sumrnary of significant accounting policies. The financial reporting framework that
has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102
The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. and applicable law (United Kingdom
Generally Accepted Accounling Practi￿).
In our opinion the financial statements..
give a true and fair view of the state of the chariws affairs as at 31 March 2024 and of its incoming resources and
application of resources, including its income and expenditure. for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,. and
have been prepared in accordance wilh Ihe requirements of the Companies Act 2006.
Basis for opinion
We conducted our audil in accordan￿ wilh International Standards on Auditing (UK) (ISAS {UK}) and applicable law.
Our responsibililies under Ihose slandards are further described in the Audilorfs responsibililies for Ihe audit of the
financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard,
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit
eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting
in the preparation of the financial statements is appropriate.
Based on the work we have perforrned. we have not identified any material Un￿rtaIntieS relating to events or
conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going
concern for a period of at least twelve months from when the original financial ststements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant
sections of this report.
Other inforniation
The Irustees are responsible for the other information. The other information comprises the infomiation included in the
annual report, other than the financial statements and our audilorfs report thereon. Our opinion on the financial
statements does not cover the other infomiation and, eX￿pt to the extent otherwise explicitly stated in our report, we
do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other information and. in doing
so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge
obtained in the audit or othetwise appears to be materially misstaled. If we identify such material inconsistencies or
apparent material misstatemenls. we are required to detemine whether Ihere is a material misstatemenl in the
financial statements or a material misstatement of the other information. If. based on the work we have performed. we
condude that there is a material misstatement of this other information, V￿ are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees Report for the financial year for which the financial statements are prepared
is consistent with the financial statements- and
the Trustee's Report has been prepared in accordan￿ applicable legal requirements.
Page 9

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE GOSLING FOUNDATION LIMITED (CONTINUED)
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the
audit. we have not identified material rnisstatements in the Trustees Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to
you if, in our opinion..
adequate accounting records have not been kept, or retums adequate for our audit have nol been received from
branches not visiled by us- or
the financial slatements are nol in agreement wth the accounting records and retums,. or
certain disclosures of truslees. remuneralion specified by law are not made- or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities (set out on page 81, the trustees are responsible
for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the trustees detemiine is necessary to enable the preparation of financial statements that are free
from material misslatement. whether due lo fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a
going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of
accounting unless the trustees either intend to liquidate the charity or to ￿ase operations, or have no realistic
alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is nol a guarantee that an audit conducted in accordance with
ISAS (UK) will always delect a malerial misstalement when it exists. Misslatements can arise from fraud or error and
are considered material if, individually or in the aggregate. they could reasonably be expected to Influen￿ the
economic decisions of users taken on the basis of these financial statements.
Irregularilies, including fraud, are instances of non-complian￿ wth laws and regulations. We design procedures in line
with our responsibilities. outlined above, to detect material misstatements in respect of irregularities, including fraud.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
As part of our audit planning. we obtained an understanding of the legal and regulatory framework that is applicable to
the Charity. We gained an understanding ofthe Charity and the sector in which the Charity operates as part of this
assessment to identify the key laws and regulations affecting the Charity. As part of Ihis, we reviewed the Charity's
website for an indication of any regulations in place and discussed these wth the relevanl individuals responsible for
compliance. We also considered those laws and regulations that have a direct impact on the preparation of the
financial statements such as the Charities Act 2011 and Charities SORP - FRS 102.
We discussed with managemenl and trustees how the Complian￿ with these laws and regulations is monitored and
discussed policies and procedures in place. We also identified the individuals who have responsibility for ensuring Ihat
the Charity complies with laws and regulations and deals wth reporting any issues if Ihey arise. As part of our planning
procedures, we assessed the risk of any non-compliance with laws and regulations on the Chariws ability to continue
trading and the risk of material misstalement to the accounts.
Based on this understsnding we designed our audit procedures to identify non-complian￿ with such laws and
regulalions. Our procedures involved the following..
Enquiries of management and trustees regarding their knowledge of any non-complian￿ with laws and
regulations that could affect the financial statements. As part of these enquiries we also discussed with
management whether there have been any known inStan￿S. allegations or suspicions of fraud.
Page 10

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE GOSLING FOUNDATION LIMITED (CONTINUED)
Reviewed filings with the Charity Comrnission and whether there were any serious incident reports made during
the year.
Reviewed legal and professional costs to identify any possible non-compliance or legal cosls in respect of non-
complian￿.
Reviewed Board minutes.
Audiled the risk of management override of controls, including through lesting joumal entries and other
adjustments for appropriateness.
Reviewed estimates and judgements made in the accounts for any indication of bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all l￿egUlarl11es, induding those
leading to a material misstatement in Ihe financial statements. This risk increases the further removed non-compliance
wilh laws and regulalions is from the events and transactions reflected in the financial statements as we are less likely
to become aware of InStan￿S of non-compliance. The risk of not detecling a material misstatement due to fraud is
higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion,
omission or misrepresentation.
A further descriplion of our responsibilities is available on the Finanaal Reporting Council's websile at..
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely lo Ihe charitable companrfs truslees. as a body, in accordance with Chapter 3 of Parl 16 of
the Companies Act 2006. Our audit work has been undertaken so thatwe might state to the charity's trustees those
matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted
by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a
body, for our audit work, forlhis report, or forlhe opinions we have fonned.
ci
Daniel Tout FCA (Senior Statutory Auditor)
For and on behalf of Francis Clark LLP , Statutory Auditor
Towngate House
2-8 Parkstone Road
Poole
Dorset
BH15 2PW
Date.. 29 October 2024
Page 11

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
STATEMENT OF FIINANCIAL ACTIVITIES
(INCLUDING AN IINCOME AND EXPENDITURE ACCOUNT)
For the year ended 31 March 2024
Unrestricted
Income
Fund
2024
Centenarv
Fund
2024
Expendable
EndoiTrmenl
Fund 2024
Tolal Funds
2024
Total Funds
2023
Notes
Income:
Investments
4,743.616
4,743,616
5,159,420
Total
4,743,616
4,743,616
5,159,420
Expenditure:
Raising funds
Property management costs
Investment managers fees
Charitable activities
{101,691)
(101,691)
(110,842)
{625,056)
(625,056)
(732,234)
Grant making
Governance costs
(3,082.973)
{3,082,973) (3,491,921)
(116,710)
(116.710)
(204,267)
Total
(3,926,430)
(3,926,430)
(4,539,264)
Net (losses) / gains on investments
Gainl(1055es) on
investment properties
(3,755,112) (3,755,112) (3,535,000)
Gainl(losses) on listed
investments
12
11,236,430
11,236,430
(4,625,958)
Unrealised gainsl(losses)
on foreign-exchange on
treasury cash deposits
Total net profit l {losses) on
investments
(30.487)
(30,487)
5,657
7.450,831
7,450,831
(8,155,301)
Net income l (expenditure) for
the year, being net movement
in funds
817,186
7,450,831
8,268,017
(7,535,145)
Reeoneiliation of funds:
Total funds brought forward
Transfer between reserves
17
79.773,284
4.129.291
90,521,276 174,423,851
181,958,996
17
{817,186)
817.186
Total funds earried fonvard
17
79,773284
4,946,477
97.972,107 182,691,868
174,423,851
The statement of financial activilies includes all gains and losses recognised in the year. All income and expenditure
are derived from continuing activi(ies.
The accompanying accounting policies and notes on pages 15 to 32 fonn part of these fmancial statements.
Page 12

DocusvJn Envelope ID: 30328830-E75H5114CD&0214A3F9BOE2
THE GOSLING FOUNDATIOIY LIMITED
BALANCE SHEET
As at 31 March 2024
2024
2023
Notes
FIXED ASSETS:
Investment properties
Listed investtnents
Treasury cash deposits
Tangible r￿ed &ssets
49.605.000
105.893.950
15,280,629
58.195.000
107,162.967
5,547,850
948
12
170,779,579
170,906,765
CURRENT ASSETS:
Debtors
Cash at bank and in hand
13
1,578.995
13.473.044
15,052,039
1,815.309
4,630.840
6,44Q149
CREDITORS .
amounts falling due
within one year
14
(2.064,750)
(1,668,063)
Net Current Assets
12,987289
4,778,086
Total Assets less Current Liabilities
183,766,868
175,684,851
CREDITORS .
amounts falling due
after one year
15
(1.075.000)
(1.261.000)
TOTAL NET ASSETS
182,691,868
174,423,851
Represented by:_
Called up share capital
Unrestricted Income Fund
16
17
79,773,281
79,773,284 79,773,281
79,773,284
Centenary Fund
17
4,946,477
4,946,477
4,129,291
4,129,291
Unrealised Investment Gains
Expendable Endowment Fund
Total Expendable Endowment Fund
18
18
53,706,826
44,265,281
42,741,214
47,780,062
97,972,107
90,521,276
Total funds
18
182,691,868
174,423,851
These financial statements have been prepared in accordance with the special provisions of part 15 of the Companies
Act 2006 relating to small companies.
The fllwicial statements were approved and authorised for i&sue by the board of Trustees on: 07 October 2024
Docu51gDed by=
Holl Capt Adam Gosling RNR
Trustee
Page 13

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
STATEMENT OF CASH FLOWS
As at 31 March 2024
Cash flows from operating activities
2024
2023
Net movement in funds
8,268,017
(7,535,145)
Adjustments for:
(Deduct} l add gainsllosses on investment properties
3,755,112
3,535,000
(Deduct} / add gains/loss¢s on listed investments
(11,2J6.430)
4,625,958
Decrease / (increase) in treasury cash d¢wsits
(9.732.779)
21.000,468
Add depreciation on tangible fixed assets
948
947
Deduct interest income shown in investing activities below
(283.648)
(6.027)
Deduct dividend income shown in investing activities below
Deduct other investment income shown in
investing activities below
Decrease l (increase) in debtors
(2,315,274)
(2,450,328)
(2.144.694)
(2,703.065)
236,314
(200,928)
Increase in creditors
210,687
,545,741
Cash used in operating activities
(13241,747)
17,812,621
Cash flows from investing activities
Interest income
283,648
6,027
Dividend income
2.315,274
2,450,328
Other investment income
2.144,694
2.703,065
Purchase of listed investments
(20.178.108)
(33,767,563)
Disposal proceeds of listed investments
32,683,555
12,528,505
Disposal proceeds of investment properties
4.834.888
Cash provided by investing activities
22,083,951
(16,079,638)
Movement in cash and cash equivalents in the year
8,842,204
1,732,983
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at the end of the year
4.630,840 Note (i)
13,473,044
2,897,857
4,630,840
Notes to the financial statements
(i) Analysis of changes in
net debt
Olher non-
Cash
changes
01-Apr-23
Cash flows
31-Mar-24
Cash at bank and in hand
tNote (])]
Investments: Treasury cash de￿sIts
Total
4,6)0.840
5.547.850
10,178,690
8,842,204
9.763,266
18,605,470
13,473,044
15,280.629
28,753,673
(30,487)
(30,487)
Page 14

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS
For the year ended 31 March 2024
Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial statements are as follows:
1.1 Basis of preparation
The charity is a public benefit enlity. The address of registered office is 2J The Drive, London E4 7AJ.
The financial Statements are prepared under the historical c05t convention and in accordance with Accounting and
Reporting by Charities- Statement of Recommended Practice Applicable to Charitie5 Preparing their accounts in
accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland {FRS 102) (2nd
Edition, effective January 2019) ("Charities SOiiP"').. the Companies Act 2006, the Charities Act 201 l and the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
.2 Income
Income is recognised when the charity has entitlement to the funds. on the following basis:
Investment properties
Income from investment properties comprises income derived from the leasing of commercial properties to
tenants. The properties are leased to tenants under operating lease agreements and renta15 are recognised in
the statement of financial activities (including an income and expenditure account) on a straI￿1t line basis
over the lease term.
Where rental income is structured to increase in line V4'ith expected general inflation, the rental agreements
are amended on an annual basis and income is subsequently recognised in the statement of financial
activities (including an income and expenditure account).
The charity has taken advance of the optional exemption available on tran51tion to FRS 102, which allow5
lease incentives on leases entered into before the date of transition to the standard on l April 2014, to
continue to be charged over the period to the first market rent review, rather than the terni of the lease.
Rental income is recognised on a straioht line basis over the lease terni, where leases were entered into after
the FRS 102 transition dale on l April 2014.
Listed investments
Dividends and commission are recognised when receivable and represent income received from listed
securities.
Interest receivable
Interest is recognised when receivable by the charity and represents treasury, bank and investment interest.
Other income
Other income is recognised when receivable by the charity and represents income from insurance rebates and
bank compensation.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a pa)Thent to a third party, it is
probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure
is classified under the following activity headings=
Page IS

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMEIYTS {CONTINUED)
For the year ended 31 March 2024
Accounting policies (continued)
1.3 Expenditure (continued)
Raising funds
This comprises property management costs and investment managers fees which are recognised on an
accruals basis. Any irrecoverable VAT is added to the related expense.
b Grant making
Grants are accounted for in full in the period the grants a￿ approved and the decision is notified to the
recipient irrespective of the period covered by the grnni. Grants awarded but not >'et paid are recorded as
grant commitments in the balance sheet. Any condilional grants are not provided for until the Trustees are
satisfied thai ihe conditions or grani temis have been met. Grant commitment creditors are split between
creditors amounts falling due within one year and creditors amounts falling due after one year according to
when the grants will be paid (see note 5).
Governance costs
Governance costs include external audit and accountancy fees and are reco￿]sed on an accruals basis.
Irrecoverable VA T is included in the cost of those items to which it relates.
1.4 Defined contribution pension plan
The charity operates a defined contribulion plan for ils emplojiees. A defined contribution plan is a pension plan
under which the Company pa}'s fixed contributions inlo a separate entity. Once the contrlbutions have been paid,
the charity has no further paymenl obligations.
The contribution5 are recognised as an expense in the Statement of Financial Activities when they fall due.
Amount5 not paid are shown in Other Creditors as a liabilitv on the Balance Sheet. The assets of the plan are held
separately from the charity in independently administered funds.
1.5 Investment properties
Investment properties are initially recognised al cost, which Includes the original purchase price and the costs
directly attributable to bringing the asset into its working condition for its intended use.
Investment properties are included on the balance sheet at their fair value which is detennined annually. No
depreciation is provided. Realised gains and losses on the disposal of investments are calculated as the difference
between the sale proceeds, after deducting selling cosls, and the fair value. Unrealised gains and losses represent
the movement betTh'een fair values. Realised and unrealised £ains and losses are included on the face of the
statement of financial activities (including an income and expenditure account).
.6 Listed investments
Listed investments are stated in the financial statements at fair value. Realised gains and losses on the sale of
investments are calculated as the difference between the sale proceeds and the original cost. Unrealised gains and
losses represent the movement between fair values. Realised and unrealised gains and losses are included on the
face of the statement of financial activities (including an income and expenditure account). Listed investments are
held primarily to provide an investment return for the charity.
1.7 Cash at bank and in band
Cash and cash equivalents are represented by cash in hand. deposits held at call with financial institutions and
other short-term highly liquid investments that mature in no more than three months from the date of acquisition
and that are readily convenible to knoMTr amounts of cash with insignificant risk of change in value.
Page 16

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Accounting policies (continued)
1.8 Funds
The charity maintains an Unrestricted Income Fund: Centenary Fund and an Expendable EndoMThent Fund.
Income generated by the Expendable EndoN￿ent Fund is recogni5ed as part of the Unrestricted Income Fund.
Unrealised revaluation gains on investment properties and listed investments are taken to Unrealised Investment
Gains, which for the purpose of charity fund accounting 15 part of the Expendable Endownent Fund. Revaluation
losses are also taken to Unrealised Investment Gain5 to the extent that there 15 an Unrealised Investment Gains
surplus in respect of the relevant asset.
The Expendable EndoMTnent Fund w'as e5tabli5hed from donations received for that purpose. Thi5 fund arises
from the proceeds of a special dividend and the Sale of the charity"5 previous holding in National Parking
Corporation Limited. The primary intention in establishinu an Expendable Endowment Fund 15 for funds to be
invested 50 a5 to generate future income for the purpose of the charity. The Trustees shall also be pennitted to
convert any or the entire Expendable EndoMryneT]t Fund to the Unrestricted Income Fund, h014'ever in any decision
whether or not to convert endoMThent monies into expendable income the Trustee5 should have regard for the
primary intention of this endowment. The Trustees aim to increase the total funds of the charity to a level that will
alloTh' ongoing future annual donations of £2.) million per annum.
Any funds receivable during the relevant accounting year but not utilised are carried forward as part of the
Unrestricted Income Fund.
The Centenarv Fund was set up by trustees to mark Sir Donald Gosling's i ooih Birthday iv) 2029. One or more
large projects will be supported in this year and the Centenary Funds will be used for this purpose.
.9 Leases
Finance leases, which transfer to the charity substantially all the risks and rewards of o￿lership of the leased
asset, are capitalised at the incepiion of the lease at the present value of minimum lease payments.
Rents receivable under operating leases are recognised in ihe statement of financial activities (including an
income and expenditure account) on a straight line basis over ihe lease temi.
1.10 Foreign Currency
The charitable company'5 functional and presenlational CU￿encY is GBP.
Monetary assets and liabilities denominated in foreiun currencie5 are translated into sterling at the rate5 of
exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the
date of the transaction. All difference5 are taken to the Statement of financial activities (including an income and
expenditure account).
1.1 l Financial Instruments
Financial assets
Basic financial assets: including trade and other debtors and cash and bank balances, are initially recognised
at transaction price. Such assets are subsequently Ca￿led at amortised cost using the effective interest
method.
At the end of each repor(ing period, financial asseis measured at amortised cost are assessed for objective
evidence of impairment. If an asset is impaired, the impaimlent loss is the difference between the carrying
amount and the present value of the estimated cash flows discounted ai the assei's original effective interest
rate.
Page 17

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Accounting policies (continued)
1.1 l Financial Instruments (continued)
Financial assets (continued)
The impainnent loss is recognised in the statement of financial activities (including an income and
expenditure account). If there is a decrease in the impairnient loss arising from an event occurring after the
impairment was recognised: the impairment is reversed. The reversal is such that the carrying amount does
not exceed NTrhat the carying amount M'ould have been had the impainnent not previously been recognised.
The impainnent reversal is recognised in the statement of financial activities (including an income and
expenditure account).
Financial liabilities
Basic financial liabilities. including trade and other creditors that are classified as debt, are initially
recognised at transaction price.
Debt instruments are subsequently Ca￿led at amortised cosL using the effective interest rate method. Trade
creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Trade creditors are recognised initiall5-' at transaction price and subsequently
measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished- this is when the contractual
obligation is discharged, cancelled or expires.
Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there
is a legall￿. enforceable right io set off ihe recognised amounts and there is an intention to settle on a net
basis or to realise ihe assei and settle the liability simulthneously.
1.12 Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the charity's financial statements require the Trustees to make judgments, estimates and
assumptions that affect the reported amounts of revenues. expenses. assets and liabilities, at the reporting date.
However uncertainty abou( these assumptions and estimates could result in outcomes that require a material
adjustment to the carrying amount of the asset or liability, affected in future periods.
1.13 Valuation of investment property
The fair value of investment property (note 9) is valued ai ihe Trusiees, consideration that the values from the
prior year are still considered fair value at year end. The inveslmenl properties are held at the valuations provided
in previous years by professional external valuers using recognised valuation techniques. Detern)ination of the fair
value of the assets requires the use of estimates, takin? into account furure cash flows from the asset (such as
lettings, future revenue streams and the overall repair and condition of the property). These estimates are based on
local market conditions existing at the reporting date.
1.14 Tangible fixed assets
Tangible fixed assets is measured at cost less accumulated depreciation and any accumulated impainnent losses.
Depreciation is charged to the statement of financial activities (including an income and expenditure account) on
a straight-line basis over the estimated useful lives of each part of an item of tangible fjxed assets. The rate used
is..
Computer equipment - over 3 years
Page 18

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Investment income
Unrestricted
Total Funds
Unrestricled
Total Funds
Income Fund
2024
2024
Income Fund
2023
2023
Rent receivable from UK investment properties
Bank interest receivable (UK)
2,114,)98
2,114,398
2,664,978
2,664,978
283,648
283,648
6,027
6,027
Income from listed investments
2,315,274
2,315,274
2,450,328
2,450,328
Other income
30.296
30,296
38,087
38,087
4,743,616
4,743,616
5.159,420
5,159,420
All income from investment properties is generated from operdting leases.
Raising funds
Unrestricted
Total Funds
Unrestricled
Total Funds
Income Fund
2024
2024
Income Fund
2023
2023
Property insurance
Property expenses
Legal & professional fees in
respect of investment properties
Property management costs
Investment managers fee5
Costs of raising funds
31,571
31,571
40,659
40,659
21,301
21,301
48,819
48.819
70,183
70,183
101.691
101,691
110,842
110,842
625.056
625,056
732,234
732,234
726,747
726,747
843,076
843,076
Grant making
The following table analyses the grants into broad categories and by year in which they fall due for paynent.
Paid
Payable
2024-25
2024
Total
Royal Navy/Royal Marines (Including Triservicelsea Cadets)
Sea Cadet Fund
35,000
35,000
HMS Collingwood
30 Cdo IX Gp RM
The Maritime Foundation (Maritime Media Awards)
2,300
2,300
5,000
5,000
6,000
6,000
Stockton-on-Tees Sea Cadet Corps
Kilkeel Sea Cadets
8,639
8,639
8,540
8,540
HMS Sultan
4,500
4,500
Sea Cadet Fund
25,000
25,000
50,000
Trinitv House Maritime Charity
Subtotal carried forward
17,000
17,000
111,979
25,000
136,979
Page 19

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Grant making (eontinued)
Paid
Payable
2024-25
2024
Total
Royal Navy/Royal Marines (including Triservicelsea Cadets) (continued)
Subtotal brought fonvard
111,979
HMS Pembroke (First Mine Counter Measures Squadron - SURFI
Marine Society and Sea Cadets
White Ensign A550ciation (September Meeting Expense5)
HMS Scott
25,000
136,979
600
600
50,000
i 00,000
150,000
20,000
20,000
3,800
3,800
Ye5, UK Naval Support Facility
RNAS Yeovilton
5,000
5,000
2,000
2,000
824 NAS, RNAS Culdrose
2,000
2,000
White Ensign A550ciation (Trafalgar Dinner)
Milford Haven Unit 564 of the Sea Cadet Corps
HMS Sultan {Matterhorn)
i 0,000
10,000
i 0,000
10,000
4,000
4,000
Eastern Region Football Team
HMS Sultan (ramp)
HMS Artful
2,800
2,800
5,000
5,000
i 0,000
10,000
HMS Naval Servicewomen's Network
10,000
10,000
Cadet Vocational College
UKSC Chicksands
i 0,000
10,000
500
500
RN Adventurous Training Team {SHAPE)
Northwood Officers, Mess
,500
1,500
1,200
1,200
MCM2 Crew 5 (HMS Chiddingfold)
HMS Sultan {Remembrance Weekend)
10,000
10,000
2,500
2,500
RN Race Diversity Network {HMS Excellent)
1710 NAS
3,800
3,800
10,000
10,000
HMS Sultan (Wardroom Christma5 Ball)
1,000
1,000
RM Band Scotland
1,000
1,000
HMS President
1,650
1,650
White Ensign A550ciation (lor staff trdining)
HMS Excellent (HonstNEDS: Strategic Engagement Team, Naval
HMS Excellent Wardroom Mess
i 0,000
10,000
4,000
4,000
1,000
1,000
HMS Excellent Senior NCOS Me55
1,000
1,000
HMS Excellent Welfare Fund
1,000
1,000
Subtotal carried forward
297J29
135,000
432,329
Page 20

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Grant making (eontinued)
Paid
Payable
2024-25
2024
Total
Royal Navy/Royal Marines (including Triservicelsea Cadets) (continued)
Subtotal brought fonvard
297J29
Sea Cadet Fund
135,000
432,329
20,000
20,000
Coastal Forces Squadron
HMS Viuilant
,500
1,500
i 0,000
10,000
BRNC Darttnouth
6,000
6,000
HMS Ferret
1,120
1,120
HMS Sultan (pool table)
University RN Unit URNU Solent
Royal Navy Field Gun Association
HMS Ledbury
MAG, 846 Naval Air Squadron
HMS Collingwood
RM Band Collingwood
RMA: The Royal Marine5 Charity
814 Naval Air Squadron {RNAS Culdrose)
RNAS Yeovilton (Culdr05e)
3,000
3,000
6,000
6,000
23,076
23,076
8,000
8,000
2,000
2,000
25,000
25,000
905
905
i 0,000
10,000
700
700
2,500
2,500
SSAFA
50,000
50,000
Naval Children's Charity
White Ensign A550ciation.' D-Day 80th Anniversary Dinner
i 0,000
10,000
20,000
20,000
428,025
204,105
632,130
Youth
The Green Team
i 0,000
10,000
DigiLocal CIO
Sports Connections Foundation
A.P.E. Project CIC
Lancashire School Sailing Association
Cheddington Scout Group
Chailey Heritage Foundation
The Brilliant Club
i 0,000
10,000
i 0,000
10,000
5,000
5,000
5,160
5,160
10.000
10,000
5,000
5,000
25,000
25,000
North of England Activities and Training
Subtotal carried forward
i 0.000
10,000
90,160
90,160
Page21

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Grant making (eontinued)
Paid
Payable
2024-25
2024
Total
Youth {continued)
Subtotal brought fonvard
Our Community Foundation
KEEN
90,160
90,160
5,000
5,000
5,544
5,544
Rock UK
5,000
5,000
Interniission Youth
20,000
20,000
Denewulf District Scout Council
6,000
6,000
Felix Project
Magpie Dance
TIIAYE
5,000
5,000
6,000
6,000
5,000
5,000
The Lord's Taverner5
2,500
2,500
Engineering Development Trust
Para501 Project
The Jericho Foundation
5,000
5,000
4,035
4,035
20,000
20,000
Youth & Community Connexions
Door 84
5,000
5,000
5,000
5,000
Families United Network
5,000
5,000
Norton Hall Children and Family Centre
Resurgo Trust
5,000
5,000
10,000
10,000
Urban Uprising
Little Gate Farni
10,000
10,000
30,000
30,000
Foreland Fields School
30,000
30,000
Treasured Moments
5,000
5,000
Pr05pex
Ruth Strauss Foundation
20,000
20,000
5,000
5,000
Future Frontier5
50,000
50,000
Northern Powerhouse Boxing Academy
Blootnsbury Football Foundation
Young People First
Helm Training
Loughborough Junction Action Group
Career Ready
Subtotal carried forward
i 0,000
10,000
i 0,000
10,000
5,000
5,000
10,000
10,000
i 0,000
10,000
15,000
15,000
394,239
25,000
419,239
Page 22

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Grant making (eontinued)
Paid
Payable
2024
2024-25
Total
Youth (continued)
Subtotal brought fO￿ard
I st Dromore Scouts NeNvry
Chichester City Centre DropFln (The Bell Tower)
AFK
394,239
25,000
419,239
20,000
20,000
i 0,000
10,000
5,000
5,000
Wycombe Food Hub
Young Bristol
I st Great HoThood Scout Group
Tutors United
2,500
2,500
10,000
10,000
i 0,000
10,000
5,000
5,000
Ipswich Unit 195 of the Sea Cadet Corps
S Pinter Youth Project
SNAAP
12,500
12,500
5,000
5,000
i 0,000
10,000
South Bristol Youth
5,000
5,000
Building Self-Belief CIO
Azamrah Youth Club
10,000
10,000
5,000
5,000
Stafford Brigades Youth Band
I st Stretford (Longford) Scout Group
Square Peg Activities Limited
Friendship Cafe Ltd
Collyhurst and Moston Boxing Club
The Outrunners
5,000
5,000
35,000
35,000
10,000
10,000
5,012
5,012
15,000
15,000
2,500
2,500
Greater Manchester Youth Network
8,500
8,500
Priority Youth Project
Sal's Shoes
5,000
5,000
15,000
15,000
Ride High
Young Leicestershire
The Feathers Association
10,000
10,000
5,000
5,000
20,000
20,000
WA VE Adventure
15,000
15,000
Love Rowing (British Rowing Charitable Foundation)
SNOOSC
5,000
5,000
2,625
2,625
Fulham Reach Boat Club
7,500
7,500
Short Football CIC
5,000
5,000
Ospreys Wheelchair Rugby
Subtotal carried forward
6,750
6,750
599,626
107,500
707,126
Page 23

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Grant making (eontinued)
Paid
Payable
2024
2024-25
Total
Youth (continued)
Subtotal brought fO￿ard
Youth Adventure Trust
599,626
107,500
707,126
7,460
7,460
Me2 Club
7,400
7,400
Shipwrights, Charitable Fund
Basecamp Adventure Trust
SALTO Gymnastics Charitable Foundation
Outw'ard Bound
200,000
200,000
17,765
17,765
20,000
20,000
200,000
200,000
Fight for Sigh￿l$10n Foundation
Royal Navy Association Football
Wolverhampton Youth Zone
Oasis Warndon Community Hub
RONA Trust
50,000
50,000
8,000
8,000
5,000
5,000
5,000
5,000
10,000
75,000
75,000
The Rose Theatre, Kingston
LinkAble
125,000
250,000
375,000
i 0,000
10,000
Exmouth Beach Rescue Club
5,000
5,000
Bedgrove Residents & Community Association
Oi Musica
5,000
5,000
7,500
7,500
The Guide Association
40,000
40,000
Ayr Unit (No 17) of the Sea Cadet Corps
Rugby Portobello Trust
The Harrow Club
20,000
20,000
7,500
7,500
7,500
7,500
The Ken$in￿on & Chelsea Foundation
The Nucleo Foundation
i 0,000
10,000
5,000
5,000
Believe Achieve CIC
5,000
5,000
7th St Pancras Guides
6,000
6,000
Hearing Dogs for Deaf People
The Boathouse Youth
i 0,000
10,000
i 0,000
10,000
Sheffield and Rotherham Wildlife Tn￿t
5,000
5,000
Royal Drawing School
Discovery Sailing Project
Wheels for Wellbeing
Subtotal carried forward
15,000
15,000
25,000
25,000
5,424
5,424
1,057,675
824,000
1,881,675
Page 24

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Grant making (eontinued)
Paid
Payable
2024
2024-25
Total
Youth (continued)
Subtotal brought fO￿ard
Ellen MacArthur Cancer Trust
1,057,675
824,000
1,881,675
12,000
12,000
Sunshine & Smiles: Leeds Dow) s￿drOMe Network
The Harlequins Foundation
Sports Alive North West
Group 64 & Putney Arts Theatre
FC Darlington Locomoiives
Active Foundation CIC
5,000
5,000
i 0,000
10,000
30,000
30,000
14,688
14,688
5,000
5,000
i 0,000
10,000
Starlight Children's Foundation
i 0,000
10,000
1,074,675
903,688
1,978,363
Education
The Rowdown Inspire to Aspire Foundation
Tir Coed c)
Providence Row
7,500
7,500
6,000
6,000
i 0,000
10,000
Surrey Care Trust
Work Avenue
i 0,000
10,000
10,000
20,000
30,000
Exeter Cathedral
50,000
50,000
Younu People's Puppet Theatre
City Gateway
Assisting Berkshire Children (ABC) to read
JPC Community Farn]
Sunfield Children'5 Home
i 0,000
10,000
i 0,000
10,000
5,000
5,000
5,000
5,000
45,000
45,000
The Mary Rose Trust
The No Way Trust
Learning Partnership West Cic
Team Domenica
7,000
7,000
5,000
5,000
5,800
5,800
7,500
7,500
IMarEST
i 0,000
10,000
Whirlow Hall Farm Trust
5,000
5,000
Royal Blind Asylum & School (Sight Scotland)
We the Curiou5
6,500
6,500
15,000
15,000
UKSA
60,000
60,000
Subtotal carried forward
245JOO
65,000
310,300
Page 25

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Grant making (eontinued)
Paid
Payable
2024
2024-25
Total
Education (continued)
Subtotal brought forward
Prior's Court Foundation
245JOO
65,000
310,300
25,000
25,000
On Course Foundation
7,180
7,180
Treloavs
20,000
20,000
Make Them Smile
2,500
2,500
290,300
74,680
364,980
Other
Chiltems MS Centre
25,000
25,000
50,000
MPS
30,000
30,000
Horatio's Garden
i 0,000
10,000
Kent, Surrey and Sussex Air Ambulance
Saints and Sinners Charitable Trust
5,000
5,000
2,500
2,500
Chiddingfold PCC
Horatio's Garden
7,000
7,000
i 0,000
10,000
St Michael's Hospice
Macmillan Cancer Support
The Felix Project
C4WS Homeless Project
i 0,000
10,000
2,000
2,000
5,000
5,000
1.000
1,000
79,500
53,000
132,500
1,872,500
,235,473
3,107,973
Grants written back in the year
(25.000)
(25,000)
Total
1,847,500
,235,473
3,082,973
In the current year and prior year, all grants have been made to institutions from the Unrestricted Income Fund.
See the appendix for full comparatives.
Page 26

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Analysis of accruals for grants payable
2024
202>26
Total
Notes
Accruals for grants payable made in the year
Accruals for grants payable made in prior periods
749,823
475,000
1,224,823
580,000
600,000
,180,000
14, 15
1,329,823
1,075,000
2,404,823
Prior year:
2023
2024-25
Total
Accruals for grants payable made in the year
Accruals for grants payable made in prior periods
721,632
1,255,000
1,976,632
15J,750
6,000
159,750
14, 15
875,382
1,261,000
2,136,382
Governance costs
Unrestricted
Total Funds
Unrestricled
Total Funds
Income Fund
2024
Income Fund
2023
2024
2023
Accountancy fees
Grant administration & professional fees
Audit fees
18,756
77,638
18,756
77,638
19,548
104,815
19,548
104,815
15,011
15,011
10,587
10,587
Depreciation
Bank charges
Other expenses
Governanee costs
948
948
947
947
407
407
210
210
3,950
3,950
68.160
68,160
116,710
116,710
204,267
204,267
Trustees, remuneration and trustees, benefits
No Trnstees received any remuneration or had any expenses reimbursed for their services during the current or
prior year.
Staff costs and employees
2024
2023
Wages and salarie5
Employer's national insurance
Employer's pension contributions
73,222
30,555
2,594
1,822
423
77,638
30,978
The average monthly number of employees, excluding Trustees, during the year was 2 (2023 - 1).
No employees received remuneration benefits in excess of £60.000.
Page 27

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
Investment properties
2024
2023
At O l April=
Historical cost
35,768,343
35,768,343
Revaluation brought fonvard
Fair value
22,426,657
25,961,657
58,195,000
61,730,000
Disposals
Gains/losses on investment properties
Fair value at 31 March
(4,834,888}
(3.755:112} (3.535.000)
49,605,000
58,195,000
The investment properties were revalued at 31 March 2024 by the Trustees. No fonnal valuation was carried out.
The Trnstees consider the valua(ion of the investment properties to be accurate and to reflect their fair value as at
31 March 2024. All inveslmenl properties are situated in the UK.
Realised and unrealised gains and losses on investment properties are allocated to the Expendable EndoMnent
Fund.
10 Future minimum lease receipts due under Doll-cancellable operating leases
The future minimum lease receipts are as follows:
2024
2023
Due not later than one year
Later than one year and not later than five years
Later than five years
2,278,458
2,523,889
9.621,300
11,494,275
89,249,707
89,889,901
101,149,465
103,908,065
I l Listed investmellts
2024
2023
At 01 April:
Opening market value
Additions
107,162,967
90,549,867
20,171,479
J3.895,409
Less: disposals
Gainsllosses on investments
(32.68J,555) (12,528,505)
11,24J,059
(4,753.804)
Closing market value
105,893,950
107,162,967
Historical cost
92,794,766
105,306.842
Revaluation carried fonvard
13,099,184
,856,125
105,893,950
107,162,967
Realised and unrealised gains and losses on listed investments are allocated to the Expendable End01￿￿ent Fund
in both the current and prior year.
Page 28

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
12 Tangible fixed assets
Computer equipment
Total
Cost:
As at JI March 2023
2.842
2,842
Additions
As at 31 Mareh 2024
2,842
2,842
Depreciation:
As at 31 March 2023
,894
1,894
Charge for the year
As at 31 Mareh 2024
948
948
2,842
2,842
Nel book value:
As at J l March 2023
948
948
As at 31 Mareh 2024
13 Debtors
2024
2023
Trade debiors
688,422
723,927
Other debtors
73,924
59,750
Prepayments and accrued income
816,649
,031,632
1,578,995
1,815,309
Financial assets that are debt instruments measured at amorti5ed cost comprise debtor5 and accrued income and
amounted to £1,562,102 (2023= £1,815,309).
14 Creditors: amounts falling due within one year
Iyote
2024
2023
Accruals for grants payable
Trade creditors
1,329,823
875,382
2,979
32,070
Other creditors
1,297
406.00
Taxation and social security
Other accruals
87,144
81,110
142,616
121,566
Deferred income
500,891
557,529
2,064,750
1,668,063
Page 29

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
14 Creditors: amounts falling due within one year (continu
Note
2024
2023
Deferred income reeonciliation
Deferred income balance bought forward
Income released in the year
Income deferred
557,529
532,305
(557,529}
500,891
(532,305)
557,529
500,891
557,529
Financial liabilities measured ai amortised cost comprise accruals for grants pa}'able and accruals excluding the
audit fee accrual amounted to £2,539,089 {2023: £2,278,989).
15 Creditors: amounts falling due after more than one year
Note
2024
2023
Accruals for grants payable
1,075,000
1,261,000
16 Share capital
2024
2023
Allotted, called up and fully paid
3 (2023: 3) Ordinary Shares of £ l each
17 Trust funds
Expendable Endowment Fund
(including the Unrealised Investment Gain5)-
Balance as at l April 2023
Net movement in fund5
90,521,276
7,450,831
Balance as at 31 March 2024
97,972,107
Centenary Fund:
Balance as at l April 2023
Net movement in fund5
4,129,291
817,186
Balance as at 31 March 2024
4,946,477
Unrestrieted Income Fund:
Balance as at l April 2023
Net movement in fund5
79,773,284
Balance as at 31 March 2024
79,773,284
Page 30

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
17 Trust funds (continued)
Prior year:
Expendable Endowment Fund
(including the Unrealised Investment Gain5)-
Balance as at l April 2022
Net movement in fund5
98,676,577
(8,155,JOI)
Balance as at 31 March 2023
90,521,276
Centenary Fund:
Balance as at l April 2022
Net movement in fund5
3,509,135.00
620,156
Balance as at 31 March 2023
4,129,291
Unrestrieted Income Fund:
Balance as at l April 2022
Net movement in fund5
79,773,284
Balance as at 31 March 2023
79,773,284
18 Analysis of net assets between funds
Unrestrieied
Expendable
Endowment Investment
Unrealised
Share
Income
Centenary
Fund
Total
Capital
Fund
Fund
Gains
Funds
Fund balances at 31 March
2024 are represented by=_
Investments
67,860,992
4,946,477
44,265 ?81
53,706,826
170,779,579
Current assets
15.052,039
15,052,039
Liabilities
(3,139,750)
(3,139,750)
182,691,868
Total net assets
79,773281
4,946,477
44,265,281
53,706,826
Fund balances at 31 March 2023 are
represented by:_
Investments
76,256.195
4.129.291
47,780,062
42,741,214
170,906,765
Current assets
6.446,149
6.446,149
Liabilities
(2.929,063)
(2,929,063)
Total net assets
79,773,281
4,129,291
47,780,062
42,741,214
174,423,851
Page 31

Docusign Envelope ID.. 30328830-E7544511-8CD8-0214A3F9BOE2
THE GOSLING FOUNDATION LIMITED
NOTES TO THE FINAINCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2024
19 Control
In the current and prior year, there was no ultimate controlling party. All decision5 are made by the Trustee5
unanimously. The charitable company wa5 illcoTPOTated in 1985 as a private company limited by share5. No rights
exist to appoint and remove Directors.
20 Related party transactions
During the year the charity made donations of £60,000 (2023= £5.044) to The White Ensign Association Limited,
a charitv where Hon Capt Adam Gosling is a Trustee. At the balance sheet date, the balance due to The White
Ensign Association was £30,000 (2023= £50,000).
Page 32