REGisfERED COMPANY NUMBER.. 024S0176 lEMand and Wale$l REGISTERED CIIARffY NUMBER: 3Z8465 REPORTOF THETRvEE5 AND FINANCIALSTATEMENTS FOR THE YEAR ENDED30TH SEPTEM6ER 3021 FQR GREENDOWNTRUST Thoma5 Coombs ststutoryAuditor Chirtered Accountants 3365 Thè Pentagon Centw Way Tho¥pe Park Leeds W25tYorkshirt LS15 8ZB
GREENDOWN TRUST CONTENT5 OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 Pa80 Reference and Administrative Details Report of the Trustees statement of TrU$t$, Responsibilities Rèport of the Independent Audltors 7 to 10 statement of Mnan¢lal ArtivleS li Balance Sheet 12 Cash Flow Statement 13 e$ tothe Cash Howswement 14 Note5 tothE Flnanrlal Statements 15 to 24
GREENDOWN TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR TIIE YEAR ENDED30TH WTEMBER Z023 rRusfEE5 P A Deecroft Ire&8ned 7/31231 D PlckersKIII L P Webster Ireygned 7191231 R Phillips Firbae Chairn)an SB8r S Greener COMPANYSECRETARY CLCoop REG15TEREDOFHCE )eley House Chapel lertOn Leed5 LS73QB REGISTERÉD COMPAW NUM8ER D2450176 IEn8knd and Walesl REGisfERED CHARfTY MVMYER 328465 SÉNIORfATUTORY AUDITOR 5topher Darwin FCA AUDrro Thomas Coombs Llmited ststutory Auditor ChartÈred Attountants 3365 The Pent*Èon Cerrturyway Thorpe Paik Leed$ West Ytsrkxhire LS15 8ZB P3ge I
GREENDOWN TRUST REPORT OF THETRiISTEES FOR THE YEAR ENDED 30TH SEP7EM8ER 2023 The trustees who are als¢ dlrectors of th£ charity for the purposes of C¢mpank5 Act 2006, present thelr rep)rt wh the flnandal statement50fthecharityfortheyear ènded 30th September 2023. Thotrusteeshave adoptedthe prOsiOnS0fAccQUn8 and Reportlng by Ch8ritie5.' StstemÈnt of Recommended Pr8tti¢e Ippllcae to chErfties pparIng theli accounts In arcordance wlth the Financlal Reportlngstsrtdèrd apprable In the UK8nd RÈpublic of Ireland IFRS 1021 leffettive l January 20191. OBkCTIVESAND AcfiviTIE5 objetteS and aiJn% Theformal objects gf the charfty as defined In tt5 rnemorandum of ass(KSation are.. 'To carry out (alone or with othEr¢harltièsl the fallowlng ch3rft2ble trusts or any of them, namoly to assist needy persons lirreSFective o religionl or to supp¢rt or promotè thaAtable reliBlous purposes¢onnected wAth the Chr15tlan Sclence church1Tr Such manner orwa a5thp Charity Shall romtime to time think It and In parbcular but wlthoutdeio8ating frorn the generalltyof the fore80in8 to provlde trr a5slst lflnanclally or a5 herelnafter prolded) with the pro510 rfllvl.Ygaccommodatlon, furnished Qr unfurn15hed, and wlth or wlthout servlces or Qiher facllhl, for needy persDn¥ and whether by proNidin& adaptin8, imprpvin& equlpplnL furn1n{ malntalnin8 or runnkng homes, h05tels, hDu5es. flot5 or otherdwelKngs ofany Sort or other meank. Withln the alM)ve cblects, the Trv5t provid sheltered houslnE and resid2tttial accommodalon at It5three propethes. n8mely.' tneley HeusÈ èt Leeds Iresldentkll, Stockwl Lodgeat XnarÈsborDugh lthdteredl and Valley Lodge 4t Ilkley Isheltererf. All the wopertie5 are nKlntalned to a veryfvl£h standard and areadmlnlstered bytheTrusteesthrough the GeT*TrI Marern herslte manager& canagerS 4ndadmlni5tratpie staff. AcccoJntsbllltywndET Publlc8Bnefft Requirements ltt accordance with Ihelr dufjes pur5uantto Section 4 Chari(ie5 Act 2011, th2 TrustÈÈs Constdered the Trust'soblects •¢tivltle5 In118ht ofthe Charity CommissloD'5general guidanceon benefit.'Ch3rifiÈ5 and Public Beneftt.. In relatlon to the frst Ilrnb of the public benefit test s¢tout In the guldance. the oblects )re defined in the Memorandum of AssoclatlDn the Truste ar2satlsfled that each Of th2se 15 of benefitto the publlc. The Otyects emphaslsÈthe provIon of 5ub55dlsed rE5identlal care and thekered actommodadon, whl¢h15 In evidence In the mnningof the TrusL and tlelrly prDvkle5 SUPPOrtto those In need within the cornmunity. In relotlon to the second Ilmb of thetest, thÈ tru5teesen5ur£ thatthe public atlarge benefftfrom the 3tiDitties of thetrusi and thatthere Is no prlvate benefll Ineidentsl orothepNisp. By the nitvre Dfthe activitie5 performed. thefèct that none of the Trustees re51de ot any of the propert5 Ènsures that the trusteesdg not enjoy aoy benefrt. knddental orotherwlse, from their PDSitlon. A5a resultotbelng able to house up to 109 residents overthree sltes, they ènd thefamllies and COnctIonS of those who are a¢camtDodated enjoy the beneflts of the 5ervlce5 proknlded, 4nd a5 Such, the publlc at lÈ¢e benefit from the charitsble actlvlties, The ch2r)ty does n¢t dtS¢rfrnlnite agalnst oyone on the8rounds olthe ablnty to pay. WIt> the alms of the oharlty, appllcatlons arè invlted from atwne in need. and 3551stsnce wlth obtainlng fundln¥1s given ff requlre(L The truste regularly keep the acti1)e50ftheTrSt under revlvk4, lo ensure that they are ol fflclent benefit tD the publk Pa8e 2
GREENDOWN TRUST REPORTOF THE TRUSTEES FOR TFIE YEAA ENDED 30TH SEPTEMBERXJI4 STIIATEGIC REPORT Athi4voment andp¢rformance DynAloy The Sident[al homÈprovMles its residentsvAth the hith¢st quality 24 hgurcore p055ible ia z relaxed, secwe and homely enrQrnent. The fv)me15 rÈ815tered for 24 Te51dents ènd empbys a t¢arn of re. housekeeplng tsterlng si81f. The home works COnn5]Y t03chieve allthe otrtcomes of setvi¢e provlslon. The home Is In£pecied by CQC An Inspettion wis ¢aMed OIA In 2017 and all sttndards checked were lully rnet. The home wa5 ted Good Undert lètest Inspecdon crlterfa. The horne believ2s that haylng th2 highest qualltr care and attomrnod6ffion 15 an absolute right of every reswent. The cortlnuing alm of the h(Fme Is to provide a profe55tonal and efficient service lo meet EryOne'S needs qnd requlremEntS 8n(t to achiEvE satisfactory"outcornÈs for eath persin The home'5 long-term goal Isto obtain the hl8hest posslble level of s8tiskction Tesldents and rÈl2tlvek An Inspeedon hès prevlously been ¢8rried out by the Food ind He3lth 5eMce who aw8rdèd the kitrhen a 5-Stir ratlng for hY8fte, the m3muM vthkh can be actheve The management team belleve thJL in orderto proVe a qualltv 5ervlre, the hDme requlre5 hIquaty staff who are suitsbl¥ troined, supervfsed andsuppDrted. OyneleyHou5e15 inspected by Leeds (la1 serceS$part ol the Framew0cOnIfact.The1aSt¥aIidOti0n v151t took pkce In 2g22 and ne]eY House zchieved the enhanced standard, the highest kvel. The home has atso athlewed the investors in people accrethtation far 2022-2024. ¢)ccupancy leve15 are mDnltored wlth the alm of ad)levln8 Ihe pl4nned 5urplu& Monthly m4wgernentaccounts are produEed which tompare actual financlal perfom)ance agalnst previously ègreed budzets. Monthly management accaunts tlrtulated to all mernbers of the finance CDrnmittee and tr>the other truslees, they are discu55ed in detail * flnance commlttee meetings tt are held 5 tlmes each year. StDckwell Lodse ond Vallèy Lod¥o Th2 two hou8 s¢herne5 PTDvlde o grod standard of actvmmL¥datlDn lfj pleasant and peaceful surroundings, there 3rp 25 lats at Stockwell Lodge and 27 flJts at Valley Lodge. The flats PrOde seturè arcomrnGdHtion supported by the resident rndnager and a emeraency Call sy5tetn to 3 24 hour11 centre. 80th SY)ckwell and Valley Lodge have had extensl¥e refurbishment5 of the comrnunal Èntres, wlth on£cNDÉ refurbishment ofthe ffats klichens as they become v8eÈnt, réody *or newtenantsto move in. Flnandal re¥lew Flnanclal poshlon The financlal statErnents CDrnply with the Companies Act and the Statement uf Recommended Piacffce on Accountlng by Charlties znd the condltlons In the COmnY,$meffloraTrurn andArttles0focyat1On. Them0vemt Infunds155hown ontheStatementofFinancial ActivFtles on page 11. The flnantlal results of the charlty ore shown In the annexed fSnanclal ststements. Plindl funding sources DurTng the year ended 301h SeptÈmkr 2023, 85%12022.. 92%) of the thrfty's income Èrose frgTll ren15 and senrice £harges for the ottupation of resldential 2nd shelterÈd ac£omTnodatlan owned by the charfty- Investment polland oblectfves The Trustees have con51dered the mott approprpate pollcy for the Investment of funds 3nd have declded thaL 8Tven the demand on workjni tapitsl, Investment in the form of cash and investtntnts are normally the most appropriatÈ èctlon. The Investments arnount to £l,D96,974 which are rnanagei b¥ Redmayne-Bentley LLP, Stod(brokers. All olher monles not requlred for Immedlate use are kept an deposlt TheTrusteeswill mltorth perforrnanceof the Investme mana8Èrs ogalnstthe ARC Income Index. Pa3
GREENDOWNTRUST REPORTOF THE TRUSTEES FOR THE YEAR ENDÉD 3mi SEPTEMBER 2023 STRATEGIC REPORT Flnandal rewew ResÈrve$ pollty All funds and properties inthe ownership ol the Trust ats unre5trltted and therefore avallèblE for use b¥thÈTrustees at thelr dixreuo for the purposE5 of the Trust. These funds are malntsined at a sufficitrt lÈvÈl in ctTder to 411ow the smtsoth dpratSDrt of tht tharty, aCtirI@S olpiovldiTrgaccomrnodatlon to its resSdents. The TrustÈes havÈ set a tapet to establish a prudtntfinanrial re5erveof unrestrlcted fund when compared total annual pendItUrE Io cater for possible future contif,8enties. At the balance sheet date, the level of Ilquld unrEstrlcted fvnd5, exdudlng unrestrlcted flxed assets,was£I.328,168. When compared with the annu&l expend1tre ofEi296,044 thlsglve$8 level of serveSe11v3lÈott0 12 rnonths expenditure, Howeverthetrusteesareufthe cnICnthat unrEStrictEdfreereserves equlv31entto 18 month5 0fexpendltulEIS44,o66J arÈ appr¢prièie. The trustees are endeavouring to Increase Income to ensure unrestdcred free reseNes are at the tar¥et levd In the future. Post 8al•DceShrt Eyer The Trustees are not aw3r¢ of ami events after the balince Sheet date which have any materkl effect of the positlon presented in thesE ccounts. Futuro plans The Orn1580n works continuously to ichieve all the tcomeS of s•Mce provision. The latèst Inspection by CQC eonftrmed that we rnet all the outcome5assessed. The condnulng alm of the oiganlsatlon isto prDvlde a profe5sion31 and efficnt servlce to meet evOne'S needs and requlrements and tD athieve 5atlsfa¢tDr{outcornes foT each person. The organisayon's long term goal Is to obtaln the highest W5ble1eveI of Satl$fa¢on frorn residents, tenaAts and reSitive5. To m¢eithesegoalswe aim to continue an on-goln8 programmÈ of improvÈments to 811 our propertiesto maintain the hlEheststanthrds. A Ilsrof relurbishments andlmprovements highllghted inthe budgetis approved bythe BoardofTrustee5 annuallyandcarrled outdurlng the folknwint year. In the coming year, there planned project of works to further improve the flre safety of Dyneley House. Thls Include5,' upgradesto fire door5. a new fire alarm system and general bulldlng works which wlll have a focus oll fiTesafety. AtValle¥ Lod8E and Stockwell Lodge, Improvementsto th¢ heatlnland Insulitlon 11 rOtinUe. The aim 15 Tnake the lodge5 tnore energy Iclentandto redure thelrcarbon emI[0$.Tthe new systemswlll have a(fvancÈd control systems that•llow for0pMis8tttjTr olener8y usage. STAucfuRLGOVERNANCE AND MANAGEMENT G¢vernlDu d¢ent The chartty15 controlled byltsgovernln& documen( a deed oltrusty and consrttutes a IlmltÈd tompany, Ilmlted by guarantee, as delned by the comnIeSAtt 2006. The Charity i% tontrolled by its 8avÈming dGcurnent. a deed Dftru5t. and ctrn5titutes a limY(ed company. Ilmlted by guarantee. as defined bythe Companies Act 2006. The legal status of GreeOwn Tru Is th8t of a Company Llmlted by GuarbnteÈ ost#bllshed on 7 December 1989. The name of the company wischanged on 14th May 2tsJ6from GreendownTru5t Llmited toGreenduwn Trust. The cornpany resiStered as a charty LmderThe chariti Act 2011 èxd ts 8o¥emed by its MÈmoiandum and Articles l as amended 30th August 20I91- At 30th September 2023 there were 6 members whose112bility if Ilmited to Él each In the e¥entof the Ilquidatlon of the company. Asucceyion plèn 15 in placeto recruit newTw5teE& P4e4
GREENDOWN TRUST REPORT OF THE TRUSTEES FOR THE YÈAR ENDEO 30TH sEpfEMBERZ023 STRUCTURE. fjOVERNANCE AND MAWIGEPAÉNT RecrultmÈrt Hnd appornmentof newtrtt5tees Detalb of ihe Trujttts who havÈswved durfn8 theyÈar are Ilsted on page L The d1CtorS of the charit3ble company are a150 Trustees for the puipo5e of ch3rity12w and sit on the Trustee Bcard. Tru5teEs shall nuTnbeT rTro 5$ than three. At every Aftnual General Meetin£ ofthe £ornpony 0-thrd of the Eoard of TrusteÈs shall retlre from officè and if wl)nE and eli8ible will offer hiMseLf or heT¥elf for re-ettlon. The Board of Trustees ho5 the Power at arty time to appolnt any personig be 3 trukee. Qr8ènISa8l structure Thedayio day&dmlnlstratlon artd tsperl0n of the tharlty and its actieS15de1eqted to the general manager and her5UPPOrt staff. The general manager, L aark, Is supported by the trust admini5tTator, the èsslrtant trust a(knini5tratrr and two teirn leader5. In the coming YEar. a Deputy M&nagerwlll be recruf¢ed tD further strewthenthe managemènt team. Induetiom and Iralning of newliustees Individua15 Interested in becoming Twxtees are Inviied to joln bo8rd maetings, Inltlalty as obSerr5. Irl1dUaIs wh¢ exhibll skills Itablefor the charitv4nd show • contillued interestth Ihe actIviti of the chÈrityarethen inted to become è trustee and are provided tAthaHrity Comrnlssion publfcadonsgn the responslbifitit5 Qfa trustee. Xeymanagement omuntratFon The tnJ5tees conslder thot the board together with the monager Bnd trust admlnlstrator/cDmpany 5Kretary £omprise the key man48ement per8onnÈl ofthe chadty ill charge of direttlnB and controlllng the£haty alld rvnnlng and operatln8 tht tharityon ? day to day basls. Det8lls of key ffl3n3gement personnel remuneratlon Is detsilEd innotp 11 tothe finandal staternent5. Key tnanaEement remuneratlon Tsset by the tru5t¢¢5 reviewed on an annual basts. Rel?ted parties Any Indiwdual wlth an InteresE in a matterbeTng dlscussed It a meetTng Murtder1a the interest to the meetlnB. The chairman of the meetin8 will then decide whether thd indwidual should wlthdraw durln8 the d15CU5sbn and. If not, whether the Individual should be entyded to vote i)n the matttr underdiscutson. R15k manaBement The Trust&s have IdentlfiEd and actfvetyreview the maior rlsk5to whlch th¢ Tw5t 15 exposed. Thèse risks indude.. Lossof Income and debts Cdstof major repalr5 Employers liablllty 8j thlrd p4rty £lauDs- ond Changes leglsktlon r&adni to provislon of accommod30Or the eld¢dy. lrt eh case. steps have beÈn tsken to mitf8ate these rfsk5 where p0Sble whether by InsuraTrte or by provldlnE a sufficiency of IFd resources. In addlOn. theTrustees contlnue to revlew thestreftgths and weaknesse5 gfthtrrust in orderto identlfvfurther rtsk AUDITORS The aud6tor5, Thoma5 Coombs Llmlted wlll be prop05edfor re-appoirrttnentat the fortlxorningAnnu81 General MEetin8. Report of the trustees, Incorporatlng a str3te8lc rtport, approved by arder ot the board of trustees, 8$ the company direttttrs, ¢n 28th March 2024 and signed on the board's behalf bv.. S Greener-TrustÈe Pa8e S
GREENDOWN TRUST STATEMENT OF TRUSTEES, RESPONSIBIUTIES FOR THE YEAR ENDED 30TH SEPTEMBER 2023 The truste Iwho are alsD the directors of Greendown Tru5tfDrthe PUTP0525 uf ccimpany lawl arp responsible for prepartng the Report of the Trustees 6nd thp finan1 5tatetnÈnts In accardance wTth kppli¢dble ènd Untted knnÉdom Accountlng Standards Iunlted Kingdom Generally A¢¢epted AccounVn8 Pratttcal- Comp8ny18w require5 the trustees to prepare financial statements for poch linandal year which givea true and fairvlew of the szate of affairsef the charltable cornp4ny and of the IncomJn8 re50urce5 an¢J applitIOn of resources, includingthe InrpTne and expendlture. ol the charlt3E4e coThpanyfor that period, In sxeparing th03efinanclal statements. thetrustee5 are requId to sekt sukable a¢tounting poliaes ènd.then apply thern tonsistÈntty,' observethe methods and priTrriples In:he CharitySORP,' makeludg¢ments and estlmates thatare reasonable and prudent., 5tite whether appticableaccounting standards have teen followed. 9Jblectto any materlal departure5 dls£losedand explalned ittthe fln2nclalstatemÈrtts', prepare the tinancial ststements on the 8oln8 concem bas15 unle55 It Is Inappropdate to presume that the thrltable cornpany will £thue In bu5ine¥. Th2 trtee5 3re reSpOnble for keepln8 proper accountlnE rÉcords which dlsclose wtth reasonzble accuracy èt any Vme the flnaffttial POSI0 of the crItable company and to enable them to ensure that the financS115tatèrnEnts comply With the Companies Act 2006. They are also resOn$1b1e forsafe8uardinE theas5ets ofthEcharltsblecomparny and hence fortaklng reasonèble Steps forthe prevention ?nd detertlon o'i fTrud other Irregulzrldes. In 50 faro5the trustee5 are aware.. thefy Is Tro relevant audit Information of whlch the charftable company's 8AItOT53rE unawar2,' ar the tru5te-J have taken 811 steps that they ought to have taken to make themselves £w3re uf any relevant iudlt Information and t¢ e#abllsh thatthe audltor5 areawzre Dtthat Inforrnatro Page 6
REPORT OF THE IWDEPENDENT AUDITORS TO THE MEMBERS OF GREENDOWN TRUST Opinion Wohave audltsd theffnan¢kl 5tstements ofGreendown Trust lthe'charltabtecumpany'l forthe yearended30th September 2023which comprf5É Statement of Hnanclal ActivitlE5, the Balance SheeL the Cash Flow Statement and notes to the InancLBI statemtnts, Includlng 0 5u¥nrnary of signrficant arcountlrtg policie5. The fillonc131 repotrn8 framewoik that ha5 been Applied in thelf preparationls Jpplt¢aEAe lawand ithited ngdomA¢countlfi8 Strand4rd5 Iunlted Klnldom Generally AeptedA(COUTrdng Practlcel. In our opinion thettn¥rrL415taiements: e 4 true and fèirvitw of the state olthe ¢haritabletompanV5 affairs as at 30th S2Ptember2023 and of its Incomln8 resourc¢s•nd ppllcatlon of resour¢e5, Including it51nrome and expenditur4 forthe ye8rthen ended,- have been proper prepared In ac¢ordÈnce with United Kln8dom GenÈrèlly Accepted Accounurng Pr8th¢e.' and have been prepared In accordancÈ wTth the requlrements of the Co[nnieS Act2006_ BaslstorWnlon We conduct2d our audlt in attothnce with Intern8tlonal Standards on Audltlng IUKI IISAS IUKII 2nd appDtsble13w. Our responsibl1Tr underthosestandardsarefurtheidescAbed In theAuditors' re5ponslbilitie5forthe wdltof the fitTr6nclal $tatefflts5ettE0 of our report. We are Independent of the tharitshle cornpany In accord8nce withthe ethlcal requlrementsthèt are relevant to ouraudlt of theflnantial statÉmÈntsin the UK.Induding Ihe FRCsEthlcal Standard,4nd we havefuifilledourDther pthic41 re5poislbll1e5 In ?ccordancewlth thÈse requlrements. We believelhor evidnee we have obtalned Is sufflclentand &pprapriate to provlde ? bas15 for wroplnlon. Condusion5 relatlngto In&{grErn In authting thetlnaftclal 5taternents, we haveconcluded thatthetrustees. use of tgOIng0Cern baSOf accountknKln Èhe preparatki of the financial ststement5 15 opproprlate. 88sedgnthework we hive performed,we have not Identified 3ry nyterfal untsrtaiftties relatlnBto entS orcondlt1onsth3L lTrdlvidu311y or¢oll£ctlvely, may ca5tSlEnificant doubton the ¢harit8ble company's ablloyto t¢ntirtue asa going concern fora pe¥iDdof at leasttwelve monthsfrorn when thefinancial 5tstements are authorised lor155U& Our re5wnsib¢lities ènd the re5ponslbilTtle5 of trstE9 wlth respect to golng cvn¢ern are descrlbed In the relevant secuons of tNs repgrt, Other knfarmatlon The trustees aTE responsiNe forthe oth¥ informatlon. The other Inform8tl¢n ¢omprfses the InformatlDn includedln the Annual Repfrt otherthanthe flnanclas rt8tements our Report ofthe Indepeftdent Audycors therec*. Our oplnion onthefinanaal statementsdoeg not cover the other Informatlon and, excepttr>the extÈnt otherwlse expficrdy stated Irbour rèport wp do not Express anyfvnn of assurance concluan therEon. ln conn¢£tioft wmh our audlt of the financlal 51atemÈnts, Ir responslblllty Is to read the other information ond, In dolng so, cOnder whether thÈ Dther Inftrrmatn Is materlally Ineons5stent with the finantlal Statements or our knowledge obtslned the atsdit ur otherwise appears to be matsr1311y mtsstoted. ff we Identify Such Material Inconsisten¢iES or apparEnt matErial Tni55tatement5, we are reqUId to deterrnine wh&ther this llv rise to a tnat2rlal mlsststement In the fln8ncial staternents thern5elves. If, based on the work we haveperformed we conclude that there Isa materlal tni5rtaternentof thls Dther 5nform3Won. we are requiredto rEpcrt thitfacL We have nothln8to report In thlsregzrd. Oplnkns on uther matters prestrlbed by the C¢nwanles Aet 2006 Sn ouroplnlon. basÉd the work undertaken In the course of the audit.. thE Infoffnatlon given In the Peportof the Trvstees forthe flnallEkl ar forwhlchthe finindal ststements ère prepared Is conststent wlth thefin8nclal statements,. and the Rer4)rt ofthE Trustees has been prepared in Accordance with appllcable legal requirernents. Page 7
REPORT OF THE INDEPENDENT AUDITOR5 TO THE MEMBERS OF GREENDOWN TRUST Matter5 on whlth we aré ro#uired t0POrtbY Èxceptlon In the light of the knowlerjge and understanding ol the charltable company and tt5 envlronment obtained In the course of the iLnlit, we have not TrlEntified matsrlal tni5Statement51Tr the R2pDrt oftrTrustees. We havè nothins to repprt In re5P8Ct of the fdlowln8 matter5 where the Comp3nies Act 2Lh)6 requlres us to report to you Tf, In our oplnlon.. adequate 8ccountln8 told$ have not tRen keptor returnsadequate forouraudlt have not b¢n WENed from branthes notvl&ted by u5.. Dr the financial stat2tneniS are n¢rln agreement with the accountlng rerord54nd ¥eturn5,' or ertaln disciosurÈs of irustee$' remuneratlon speclfied by law are not made,. or we ve not re¢efveé ¥llthe infoTrnatlun and explanatiens we ieoulreforouraudlt. Be5ptsn$iblltle5 Df trustee5 A5 explainEd mGre fully In the Ststernent of Trustees, ResponsibilrftSes. thetrustses (who ar&also the directors of thètharitablé tompany for the purposes of company lawl are respon51b for the preparatlon or the flnantial stètemEnts and for being satisfied thatthey give a true Ènd f2irvlÈw. and f¢rsu¢h Internal cortrol as the truste25 deterrnine is nere55aryto enable the prEpHrativn of finafi¢lal ststemET)ts thatarefree from material MIt?teeAl whetherduèto fraud or errgi. In preparing the Pinanclal statements. the trLJSteÈs 3TÈ responsible for assèssing tho chtrftsblÈ tompany's abilityttt ti%itinue As È tolng Coern. disrlosin& owlicable, matters related to Éoing tontem and u5ing.he golng concern ba515 of accountln¥ unle55 th2 trustee5 Éither intÈnd to Iiqumlate the charitable company ort¢ cease oper3tlon5. or h•veno rei115tlc olteinauve but to do so. Pase 8
REPORT OF THE INDEPENDEIVT AUDITORS TO THE MEMBERS OF GREENDOWN TRUST Our re5ponsibllltle5 fer iho audlt of the fiAan¢ial statements Our objectives arp to obtain reason6ble assurance 8bout whether the flnancial stztements zs a whole are free frorD rD3terial misSt8PemÈnt, whether due to fraud or error, and tD issue a Report of the Independent Auditors that includes our opinion, Reasonable assurance 1$ 3 hS£h level of 855Jr3nce, but Is not a guarantee that an audit condLtcted in accordance wkth ISAS IUKI will always detect terial misstatement when it exists. Misstatements tan arise from fraud or error and Bre considered material il. indivldually or In the aggregate, they could reasonably be expected to influence the econornlc decisions of users taken on the basis of these financial statements. Irregularities, including fd are Instances of non<ompliance with laws and iegvlations. We design procedures In line wtih our responslblllties, outlined above, to detect material misstatements in respect of irregularlties, iniluding fraud. The extent to which our procedures are ¢apable of detecting Irregularlties, includip8 fraud is detailed below.. Based on our understanding of the enttyand industrles In which it operates, we identified the prlncipal risks ol non-compliance with laws and ¢e8ulat10Tr5 relatp(I to health and 53fety, safeguardin& ernployment law and ddta prutettion. We 8150 considered those13ws and regulations that have a direct imp8tt on the prp.paration of the financi31 statements such as the Companies Act 2006, tax legis12tion ènd the Flnancial Reportln£ Standard applicable in the UK and Republic of IreIand IFRS 1021. We a5se55ed the susceptibility of the company'5 financial statements to material mis5t3ternent and how fraud might occur. Including through dSscusslons with the directors, discussions within our auditteam planning meetin& updatlng our record of Internal controls, and nsuring these controls otkrated as intended. WÈ dp.tErrrTined thE principal risk5 were related to posting journal entries to manipulate surpluses, and management bias In accounting estirnates. especially deprIatiOn. To addrpss the risk Df fr3ud through management blas and override of controls, we.. Performed analytical procedures to Identify any unusual or unexpected relatlonshlps. Investigated the rationalo behind significant or unusual transactions. - Challenged 3ssumptlons and judgements made by management In determining signrficantaccountlng ettimates. in particular in rektion ro depFeciation. In re5pon5e tD the risk of irregularftles and non-complianc& wlth18ws and regulation5, we designed zudit procedures which included, but were not limited to.. Agreeing flnancial statements disclosures to underh/ing supporting documentation. Dlscussions wrth tnanagement of known or suspected instances of non<ompliance with liws and regulations. Reading thp minutes of meetings of those tha¥ged with governance. Reviewing correspondence with relevant regulators. At the Gornp12tion Stage of the audit, the engagement partner's review included en5UTlnS that the team had approached their work with appropriate professional sceptlcism and thus the capaclty to Identrfy non-compliance with laws 3nd regulatlons and fraud. rhere a inherent liftiitations in the audit pracedures described above and the further MOVed non-COTnpliance of law5 and regulatlons is from the event5 and transactions roflected in the financial Statements, the le55 likely we wc)uld become aware o* it. Also, the risk of not detecting a material misstatement relltingto frauLI Is higher than the rfsk of not detecting one resultlng from error. as fraud may involve delibera'.e concealinent. Afurther description of our responsibilitiesforthe audit of the financial statements Is lacated on the Financial Reporting Council'swebsite at www.frc.or8.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 9
REPORT OF TME INOEPENDENT AUDITOR5 ro THÈ MENBER5 OF GREENDOWN TRUST Use of our report Thls reportls méde501elytothÈtharttablecDtnP2nY'5 Thember5, Os a body. In accordance wlth Chapter3 of Part 16of the CompanksAct 2. Our 8udlt work been undert8ken SD th8twe mlght stste tll the ch3fitable comp8nls membersth05e matter5 we ère requlred ta state to theyr. in an audftors, report énd for no other purpose. To the fvl,'est extsDt permV(te6 by law. we do Trcii accept or assume respons1lItyto 8nyone otherth8nthÈ th2ritsble comparyandthe chadtable companvs metnbersa5 3 boty, forouraudlt forthis report, orfor the oplnion5we have forrned. Chrlstopher Darwln FCA Isenlor StatutoryAudltorl for and on behalf of Thorn45 Coornb5 Limlted 5t3tutory Auditor Chartered ActOLThltsnts 3365 ThePentawn CènryWaY Trnrpe Park Leed5 W25tYtrrkshire LS15 BZB 28th March 2024 Page 10
GREENDOWN TRLIST STATEMENT OF FINANCIALAcfNITIES FOR THE VEAR ENDED 30TH SEPTEMBER 1023 2023 Totsl funds 2022 Totsl bjnds Unre5tr1cted funrfs- ex¢eptJonal Int•me Unrestrtdtd fund5- ore Notes INCOMEAND ENDOWMENTS FROM Donatiens, le¢eS and grants Ifd,002 57.962 Charitsble •rtfvlties Oper4tlon of rE51dential and shettered accommodation 4 1,188330 1.188BSO 971,964 orhertradinz 33B82 33.382 26,26Z Total 183P 1221,ll2 IA04,n4 1,055.918 EXPENDITUREQN Ra1&ngfunds IOJ79 10.579 8.165 Ch¥rftable attfvities Operati¢n of reential sheltered 3cc¢rnmodation 6 1.285,465 1,285,4 Ll85.153 Totsi 1.296 1,296,CWI 1,193.318 Net g•lnsllloss&51 on investnnts 16641 16641 1148.8881 183,IX12 174.9361 NEf INC¢ME/IEXPENOITURei iOg,006 IQ8DJ6 1286,2881 RECONCIUATIthN OF FUNDS Total funds b4uBhtfgvward 3.456016 3A56,816 2,743.l¢M TOTAL FUNDS CARRIED FI)RWARD 3.584A22 3.564,822 3A56,816 notes forrn part ofthese financfal statements Paee Ll
GREENDOWN TRLIST BALANCE SHEET 30TH SEPTEM8ER 2023 2023 UThrestrTcted fund 2022 Totsl fvnds otès FIXED ASSE[5 Tanwble 3sset5 Investments 13 14 1236,654 L096,974 1242,2L2 I.t09,496 3,333,628 3,351,708 CURRENT ASSETS tiebtors Cash It bank and In hènd 15 23,948 26Y,572 53,260 104,524 29L520 157.784 CREDITORS Amount5 fallw due wlthln one yeir 16 160.3261 152.6761 NETCURRENT ASSETS 231,194 ia5,ID8 TOTAL A55Efs LESS CLIARENT UAWUTIES a64,8 3,4561 PIET ASSETS 3A64,3ZZ 3,456,816 FUNDS UrtrestrirtedfurMIs 18 4564,822 3,456,816 TOTAL FUND5 864.821 3,456,816 The finandal st8tem?nt5 wpre approved by the Board of Trustees and author15ed lor issue on 28th Mdrth 2024 and were signed on its behalf by.. SGieener- TDJS ee The notesform of these finoncl?I statements P88e 12
GREENDOWN TIIUST CASH FLOW STATEMENT FOR THEYEAR ENDED 30TH SEpfEM8ER 2023 2023 Not25 2022 t45h fluws from operatlng acU¥llles Cash generated frotx operations IWSO IL45,9971 Netrath prfNided byllvsed Inl ¢per3fjn¥?etiweS 122/150 1145,9971 Cash fIow$ from Inve5tyTh6 a¢tJ¥ltles Purchase oftsnBINeflxed assèts Purth8sEof fixed a$5et investments Sale olftx¢d 155etlnvestments Divldendsrecelved 141671 152&2281 54Q086 34.907 1926,6Q31 L018,028 26,262 Net¢a5h prnVed by Inve5In8 artivides 40,S9B 117,687 Chanie cash and cash equivalentsln the reportlni perSDd Cash andrash eq¥hdettts It the benIng of the Teportlng psrlod 153 128,3101 104,524 L12,834 tash ènd cash Èqulv8lent5 atthé end of the repurtlniperiod 267,572 104,524 The noteslorrn part of these f]nancial staiemÈnts Pa8e 13
GREENDOWN TRUST NOTES TO THE CASH FLOW STATEMENT FOR TPIE YEAR ENDED 30TFI SEPTEM8ER2023 RECONCILIAThON OF hlET INCOMEIIEXPENDITUREITO NET CASH FLOW FROM QPERATtNG ACTIVITIES 2023 2022 14ei in¢omellexpendlrurel for ihe reportinR perltsd la$ per ihÈ Slatement ol fin•tial Atttvltlesl Adjustments for.. Deprec17tlon charges Lo55eson investments Dlvidehds receSved Decreasellincrea5el In debtors Increase In creditor5 108m6 1286.2881 11,72S 15,349 148,888 126,2621 15,8771 7,193 134,9071 29,312 7,650 Net cash wovlderf byllu5ed Inl op•rntions 121450 1145,9971 ANALVS15 OF CIAklGES IN N5TFUNDS At IIIDfL2 Cash flow At 3019n3 Net cash Cash at bank and hand 104,524 163,D43 267,57Z lo424 163,048 267.572 Tot81 104524 1fj38 267.572 The notes form part of thesefirAnchl statements PaBe 14
REENDOWN TRUST NOTES TO THE FINAP4CIALSTATEMENTS FOR THE YEAR ENDED IOTH SEPTEMBER 2023 ACCOUNTING PC¢ICIES sls ol pr&paring the financial slatements The flnanclal stitemernts ol the chatable cornpan¥, whlch Is a pubilc benellt entFty undw FR5 101 havÈ been prepared in accordance wlth the Charitles SQRP IFRS 1021 'Accountivg and Reporting by Charftle5-. St6tement of Recommended Practke applicable io dMrttles preparlng their accnunt5 in accordance wlth the Financial Reporting Standard applieable In the UK and Republi¢ of Ireland IFRS 1021 leffettTve l January 20191,. Finandal IteportinE StaDdard 102 Yhe Fin3nth41 Reportln¥ Standèrd appliiable In the UK and Republlc of Ireland, 8nd the Q%mpanie5 Act 2006. Theflnanclal statements havè been prepired under the historical c05t conventlon. wlth the exception Df Inyettrnents whlch aro Included at market lUe, os modif5e¢ by the reVuatIon of eertainasset Crftlcal 4tcountioKludgements and k4yseuites of estirnatlon untErtJthty Preparatlon of the flnancl statements rÈqulre5 manégement to make slgnlficantludgements and esdmitè& The items in the ftnan¢iaI stateme.its where these key judgements and estimates have been made Indtsde the depreCtIon rf flxed asset5 and the plov10$ forwsr5 intlwded wlthln acGrual& GulnE concern The ffnan£ièl staternents havebeenprepared on a gn$t0Th¢ern ba$15 asthetrustees belleve no rytateal uncertalntles exist. The trustees have condered the level of funds held 3nd the expÈtted kvel of inGome and expenditure for 12 rnonths from aLrthor151ng th8se financial statement& The bdgeted in¢ome and expenditure Is suffjclt with the levd of re5ervp5 for the charityto be ablt tocontlnue 85 a 80ingconcern. Income I Income Is recognlsed in thestaternent of FlnancklA(tithies once the charlty ha5eFrtitlernent to the funds, tt Is probable that the irKomÈ wlll be received and t4e amount be measured rEliab6p. The followlng 5petific polkle5 afe applied to patdcular cat2gorfes oflncome.. -voluntary income Ls CeiVed by wrdv of 8ranis. donatlons 3nLf g5ft lincludlng &Kts in klndl. These amountsare included In In the Staternentof nnènclalActiirities In theyear in whlch they are reeeiwable. The value of services provided byvolunteers h35 not been included. Grants, where ffltStlement not co111[n81 Dn the delpry of a sperffk performartce bythe charfty, are reco8ni5ed whenthecharfty becorne5uncondltlonally entitled to the grènt. Where 8rant5 ère recelved duriDB theyear In re5pecE offuture Ferk)ds,the amountof the gronL which relates ta the future perfods Is shown asdeferred 4r3trt5 andls induded withln cr¥JitDrs. Income frpm resldEnts represents rents and servlce charyes du2 for the year frDm the 0rUpatTh of the residenttal and sheltered actofflmodatlon pr¢perNes owned by the ¢harity. - Le8ades a¥p recoEn15edwhen It ts probable that theywlll be recelved. Receipt15 norMalbT probEble when.. lil there has been8rènt of a prOt¥ 1111 the execut¢rs have estsbli5hed that ther2 aresuffirlent assets In the estate after5ettAng8ny Ilablllties to paythe leiaty,. and lilll any ¢ondTrtionsattached to the legacy are elther within the control of the Charty or have been rnet - Governmentgrantsarè reCognIs at the falr value of tsje osset recelved or receivabIe when there is reasonable atsunce th the companywill comptywith Eonditlons attachiry ro them and the grar¥ts will be received u5in8 th¢accrual model. Expendlttsrt Llabllttks Jre recogn15ed as expenthure a5 SON SS there Is 3 legal or ctrnstruttTve obligation commlttln8 the charhy to that expendliure, it Is probable thai 3 transfer of economic beneffts will be required In settlement and the 3mount of the obll8atlon ¢3nbe measured rellably. Expenditureis attpunted foronanactruab ba55sandhasbeeDcla$5ifi£d underfve2dLngsthataggregate 811 c05t relatad to Ihe category. Where costs cannot be &irectly attr[bert to partltular hding5 they have been 411ocated to actmtles on a k515 tonlstent wfth the use pl $Our5. . Ra1Sf lunds romprise Investment rn4na¥ement fe•. fthirltable adivltles tomprlse iho costs Incurred ty the charity In th¢ opwation arKI maintenan¢e vf thÈ three TeSidentlal propertie5togetherwlth indire¢tsupport costs. Pa8e 15 tinued...
GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- conilnued FOR TRE YEAR ENDED 30Th SEPTEMBER 2023 ACCOUNTING POLICIES- cantknued Governance costs Govern3nce costs comprise all costs Invol8 the publEr a£¢ount3bllity of thE Charlty Fts ¢¢rDpllance wlth regulation and ¥ood practice. These costs intlude ¢osts rvlated to statutory audlt and legal fee5 togetr*r wlth an apportionment of ovérhèad and support costs. 8tlon and apportiotyment of ¢osts The statement of Recofflmended p[11(e requlre5 that CDsts are allocated where approprfate to rharltable expendlture and to Costs of generating funds. The Charity's central overhead5, IncdIng 5tsFf costs, have been allocated to ch8rftstr1e 8ctlvities on the $15 Df the alhc3ted titne Spent by staff on those functloThs wlth the alm of eTrsurfng that those wsts remaining wlth 80vem&nce costs feL4te to the rn3nagEnEnt of the Charlty's assets. OryBnlsèYonèl tdmlnlstrabon Ind comp¥ance with constirut¢nal and statutory requiremerts. Tan81b fixed assets Tan8lble fixed assets other than freehold l?nd are stated èt cost les5 accumulated dÉpretiation. Cost Includ¥ co$ dlrectly
ttrfbutaole to man{the 1$5et Coble of operètingos Intended.
DÈpt1t1tsn Is at rates calculated te wrfte off COSL less Èstimai&d residual value, of each assetover It5 useful Ilt4 asfo1b.s'. Corntnun41 furD15hlng5& equlprnent Fl<ure5, flttings & equlpment inibuse5 Land and buildings 33% 25-33% 25% Stralght Iln8 str8ight Ilne Reducing bèlance RefurtrAshment ¢festang rooms and aCcornnodaUon15trted a5 an exPeSe wlthln theyearthe worf(15 completed. FreehDld wuperty The Trtssteès consider the tysId1 value of buildiw not to be MateV dffterent to cost and therefore ro depreclotion ha5 been applled. This pollcy represents a departure from statutory 4EEOUnting prtndles. However the TrtJ5tees IDnsider that th policy is nece55aryln orderthat the flnantlal stetefftents ge a true and falrvlew. Impalrrnent Assets not me85ured atftlrvalue are revlewedfor &nyino1¢4tion'.hatthe Is5et rnay be Impaire(f ¥tyear end, If such Indlc3tlon exlsts, the recoverable amount of the set, or the asset's cash terterating un¢ Is estirnated tompared t? the carrylng amount. Wherethe carryin8 amount exceeds Its retfftrablÈ amouttt, an irnp8irment10$5 15 rtcogolsed in profltorloss un1£85 the o55et i5C4rr5ed ata rwRILd amounl where the itnpalment Ioss15 8 rElUaOn decrease. Taxatknn The tharity15 ¢xemptfrom corporatlon tax on Its charItae aCtTtle Fund aetountlng Uniestrl£ted funds can be used in accordance with the charitable owertfvesat the dlscretlon of the tru5tee& Re5trlcted fund5 can onNf be used for particular restrirted purposes wlthln the oblects of the charlty. Re5tri¢tions arfse when speclfled byihe donor or when funds are ralsed fer partKular restrkted purpDJes. Fvrther explanètitrn gf the nature and Pufpose of each fund is induded in the notesto th¢financial statement& LlabNitles afftd provisions Uabllitles are recognlsèd when thErp 15 an gbligation at ttE balance sheet date a5 a result of a paA event, It Is prob4ble that a transfer of ecommlc benefit vhll be re4uirEd in settlement énd the irnountof thesettlement can be estimated rekabty. Llablllties are r*EvBnlbed èt the 8mDUrt thatthe Ehallty at1pates (iwill paytD settle the debt orthe amount it has recelved as advanced piyments for the gDod5 or 5eNlces It Tnust provlde. Page IS contlnued...
GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnyed FOR THE YEAR ENDED 3mi SEPTEMBER Z023 AC£OLINfNG KJLICIE5-¢ontlnued Ll•bNhlÈs £Dd provlslon8 Provlsl¢ns are rnea5ured atthe bestestlmateofthe8TnountsTÈoulredtDsettletheobli6atlon. Where the effeEtottk tlme valuÈ of rnoney 15 maierial, the provision Is based on the prwent value of tht>seamounts, diseountsd atthe pr4-iax discount rate that reflect5 the risksspeclfic to the liability. The uMndIng of the dlscounl is recosnised in the Consolidated 5taternent of Financial ActlvlUe5 as a finance tost. Flnandal InstrumeThts The ChJrity only has financlal asset5 amd finanu81 liablllttes of 8 that quolwy as b#51c financial Instruments. B8si¢ financlal instruments ère Inltlally reco8n15ed attr2n50tt1on value and subsequentty MeaSud it thelrseL¥emaff valu Penslon e05ts and othe¥ post-rflrement beneflts The Charity pay5defined corrtributlons Into the penslon xhemes ofemployee> These arnOtS3re charged to the Ststement of Finanoè1Act1ltles as they beEome payale and ir occordonce wlth thew frJnrtIon81clafft8t1On. 5n¥¢5tment5 Investment5 are ¢08lsed Initlallyatfalr value whlch Is norynallvlhetTrnsactlonprl¢eexcluQirtg.ransartlon CDSts. Subsequentlv, they ar£ tnea5ured at falr Yalije wilh changes recognised in 'net galns I IIOs5esl Investnents, In the SOFA If the shares are publicly tTrded orthelrfalr value can otherwlse be measured rèlkbly. Debtors and uediiars reeEwab7 payable ¥vlthln oneyear Debtors and creditor5 wlth no st3tÈd interest rate and receivable or payable wFthin one year3re recorded ar rransa4tSon prfce. An¥10e5 aiisingfrorn impairment are reco8ni5ed In Qxpenditwe. REntalspayable underoperating lea are chardt0 the SOFAon 2 straight line b85t5 overthe perfod of the kase. DONATIONS. LEGACIESAND GRANTS 2023 2022 Donaticins. covenants and other IncomÈ Le8a¢ies Grants I,848 154 ?5,000 1,387 1,777 $4,528 183,002 57,692 Gr8nts rcee, IrKluded In the above, are 45 follows.. 2Q23 2022 Lths Clty Counc1c¥1d 19 sUPPOrt NHS continulDg care Auxlliary Comtnlttee 46,507 8,021 75.000 75.000 54,528 P8ge 17 cantiTyued...
GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnuèd FOR THEYEAR ENDED30TH 5EPTEMYER 20Z3 OTHER TRADING Acxwrifs 2023 2022 Investment InEoTne 33,382 26,262 INCOME FROM CFIARITABLEACflVITIES 2023 2022 ACVItY Operatlon of re51denlal sheltered accornrnodatlon Incomefrom resldent5 1,18&330 97L964 ISING FUNDS ItMent management costs 2023 2022 PortfoIlomana.rnent 10,579 8.L65 HARITABLE ACTMTIES COSTS Direct Costs (see note 71 Support costs Isee note 81 Tota15 Operaltsn Df rdentl Jnd shelt¥ed 3c(ommodifjon 1259.954 25,511 1,285,4 DIREcr ccfrsoFCHARITABLE AcfMTIES 2023 2022 Stth costs and agency ¢ost5 Rate5 ond wer Insurance Ught8nd Iat Telèphone Pastage and stationery 5undrie5 Ind1n5 ruruthent cos Residents fDod Cleanlng and IK)trsehdd expense Staff tolnlnK Travel and motor Repalrs and MaIntance Bank chary SeNice contracts Garden eXse5 Bèd debi$and released credts AfflllatloTrfee5 Payroll Depredatlon 822214 15.2 13,319 74,864 7,471 7,630 21,281 43,213 36.134 1,?65 9.110 119,754 344 45.400 16.571 781.589 10.655 11,887 59,257 10,080 12.476 30,056 36,386 28,199 1,891 8,699 96.298 383 33,743 14,517 3.974 7,763 3.174 16,349 L167.427 614 3.138 11.725 1,259,954 Pay 18 contknued..
GREENDOWN TRUST NOTES TO TrIE FINANCIAL STATEMENTS- contlnued FOR IHE YEAR ENDED 30TH SEpfEMBER2023 SUPPORT COSTS Governance st5 0ratIOn of resldentlal and sheltered accommdafjon 25.511 Support costs, included inthe Bbo¥e, are as follows.. 2023 OpEtstiDn 2022 re51dentlal 2nd sheltered a0MM0daljOn Totsl Auditor5, rÈrT)uneration Auditors, retnuneotlen for non audlt work Legalfeos 9,440 5.U53 4.211 5,515 ,511 17,726 NET INCOMVIEXPENDrruREI Net irromellexpenditurel 15 5t£tEdafter chartr1ng1lcredlu)'. 2023 2022 Audltors, reynuneratlon AuditOT5' remuneratiD• forntsn auditwork Deprpciation owned a55ets 7,900 4,211 16,349 5,053 11,725 io. TRUSTEES. REMUNEPATIONAND B£N£ATS There werÈ no iru5tees' rernuneration or other benefits for the year ended 30th September 2023 nor for the year ejed 30th September 2022. Twstees. ¢rypensps There were na trustees, expènsÈ5 pald tor the year ended 30th 5epternber 2023 r)or fortheyearended 30th September 1022. P48e 19 Coniinued.,.
GREENDOWN TRUST NOTES TO THE FINANCIAL sfATEMENIS- continued FOR fHE YtAX ENDED 30TH SEPTEMBER Z023 ii.
rAFF C05T5 2013 2027 Wa8 ènd 5alarlÈs Scclal 5ecurV(yc05ts ather penslon costs 749,715 53,438 19,061 7CO,893 58,805 21891 8212J4 7SL589 Theavetsge monthly numbpr gf employees dvrtn8 theyearwas as follLIWJ'. 2023 16 2022 22 care llaff Admlnlstradon Man8gerslScheme Managtrs support staff 37 34 No employee5 recelved tmolumer)ts In excessof £60,0. The charity consider5 tts key [nan8ment pÈrsonnel lin oddltion to the 2oafd of Trustee51 to be thè general manèger and the 5ecretary.'fhe total mneratIOn IlncludI8 ernpler nSIOn tontributionsl of the key minègemÈnt personnel was £76.713 12022.. £89,7771. COMPARATIVES FQR THE STATEMENT OF RNANCIALAcnMnes Unrestrfrted fund INCOME AND ENOOWMENT5 FROM Donaeon% lecleS and 57,692 Chadlable *ivliles Operation of resldertlal and sheltsred accommodaOn 9n,96 Othertr4d1Tw aciwtle5 Totsl 1.05S,918 EXPENDITufiE ON Raislng fvnd5 8,165 thaAtable artivlties operaon of residentlal and shelterEd accommodaiion 1,185,153 Total 1,193,318 Netlair/ll0sseSI on Investment5 1148.8S81 Page 20 contlnued...
GREENDOWN TRUST NOTES TO THE FINANCIALsfATEMENTS- continued FOR THE YEAR ENDED30TH SEPTEMBER 202a 12. COMPARATIVES FOR THESIATEmEf OF NNAP4aALACTIVITIES.wnllnued Uhst¢te fund NETINCtJMVIEXPÉNDITUREI 1286.28gi RECONCIUATION OF FUNP5 Total funds broughtforwHrd 3,743,lQ4 TOTAL FUNDS CiRRIFD FORWARD 3.456.816 13. TANGIBLE FIXEDAS5Ef5 Flxtures and fitbng5 Freehold property Motor vehicl Tot8 COST At 1st (ktober2022 Addltions Disp4al5 2,200,327 315.752 6.167 (1.8491 105.201 2,621.Z80 6.167 IiA491 At30th September 1023 2,200,327 3200 625A9e DÉPRECL4TION At 1st Ortober 2022 Qwrge foryear Ellmlnated on dlsposal 314.613 iJ38 11,8491 64.455 10,18? 379.068 11,725 11.8491 At3Uth Septemr 2023 74,642 384944 NET XOOK VALUE At30th SeptttmbÈr 20 2,2QO?27 5,768 30A59 2,236,654 At 30th September2022 2.200,327 I,U9 40,746 2,242.212 Page 21 ontlnued,..
GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THEYEAR ENDED 30TH SEPTEMBER 2023 FIXEfASSET INVESTMENTS Cash ènd setuements pending Listed Investments Tots15 MARKET VALUE At 15tQctober 2022 Additions DL4posals RelUatI£5 792 106,985 1,109,496 528,228 IS48,1571 7.407 421,243 1548,1571 7,417 At 30th SepterMber2023 982?97 114677 1,096,974 NET BOOK VALUE At 30th Septernber 2023 98Z297 114.677 1,096,974 At 30th Septemb2r 2022 LIOI,804 7.692 I.ID9,496 TherÈweTE no Investment455Ef5 9u¢5ide tle UK. The htorICal costasat 30th September 2023 was £939,32012022.. £L116.6491. I Investment5 are canied at thelrfair value. Inve5ttnent In equltie5 aTrdfix2d interest 5eEurities arp all traded in quoted publ[¢ markets, MarI1¥the Londonstock Exchan8e. A5¥el 541e5 4Trdpurrhzse5?re Tero8nised atthe dateof trade at cost lthit Istheir transaction Yaluel. The £1CanCe of financlal Instsuments to the oTrKoin¥fv)8ntl SustaInalIty of the Trust1s con&dered In theflnandèl rJryew and inve5trnent pollcy and performance settions ofthe Trustees, Annual ReporL The main rf5k to the Charity from fin7nclal instruments arises from Unrtain investrnent rkets resulting v2rfable InLome capttal returN5 from the portfollo of aets. Currew translafjon risks remalr for those companles and bondsthat are exposed to over5ea5 earnlngs and ist& Llquldlty rfsk is antlclpated to be low a5 all assets are traded on the recoEnised exchanges w5th good Ilquidity and hish tradlng vdurne5. The tharfty'5 POrtfolS0 has no materlal Investment hoIdings in markets 5ubje¢t to e¥change controls or tradlng restrittlons. The Charfty m4n4¥es Inve¥trnent risk by appolntlD8 professlonal Inve5tsllent maDager5 ond operatlng an irwestment policy that prD¥ad for a hluh degr2e ol diversifisaon of hDldlng5 Wtthin Investnetst a3set d•55es that are quottd or¢ recognlsed stock exd)an2. The thritydues Mt make use of dèriv8tiyesand slml1ar¢trrneX fiDand*l instfuments as ittakes the wew that investmentsare held for thdr lon8erterni total return. Pa80 22 continued...
GREENDOWN TRUST NOTES TO THE FINANCIAL 5TATEMENTS- cofttlnued FOR THE YEAR ENDED TH SEPTEMBER 2023 DEBTOR5.. AMOUN7S FALUNG DUE WJTNIN ONE YEAR 1013 2Q Fees and rents due Other debtors Prepayrnents and acced Income 11,376 456 12,116 38.799 656 13,805 23.948 512 16. CREDtTOR5.'AMOUNTSFALLING DUE wifHIN ONE YEAR 202a 2022 Soaal 5ecwityand otheTtaxes Other credltors Atcruals and defetted Income 18.708 12.254 1782 37,640 fQ,326 52,676 17. LWING AGREEMÈNTS MIAlmum lease payments urtder non-csncellable Operati le65esfall dueas follows: 1023 2(r22 thln one year Between i*)e fiveyears 715 715 715 715 IA30 i¥. MOVEMENTIN FUNDS Net movemÈnt ITr funds At ion2 At 3019123 UniÈstrScted fvnds G¢1 fund 3A56.816 ,006 1564.822 TOTAL FUNDS 3,564.822 Net movement infonth. Included ift the Obove are as follows.. Incorning resour¢es Resources expended Gains ond )5se5 Movement In funds Un¥e5trlcied fun Gexenl ftind ¥404,714 11,296.0441 108,OQ6 TOTAL FUNDS 1ts04.714 296 0441 a6641 Page 23 continued..
GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- continuèd FOR THE YEAR ENDED 30Th SEPTEMBER 2023 18. MQVEMENTIN FUND5- contlrtued Ciwparat1ves f¢r movem•nt In funrfs Net movement in funds At 1110121 UNe5trfcted funds Gweral fvnd 3,743,104 1286.2881 3,456,816 TOTAL FUNDS 3,743,LQ4 1286,2881 3.456,816 ComparatEve netmovement lrt fund4 Included In the aboveare as follows.. Incomlng rE5vuftes Resources expended Galns and 105ses Movement lunds Unrartrfrttd funds General fund I,OS5,918 Il193.3181 1148,8881 1286.2&81 TOTAL FUND5 L055,918 11.193,3181 lJ48,8881 1286,2881 15. RELATED PARfY DISUOSURES L)uringtheyeaF ended 30¢h September2023 C Greener, thewlfe of SGreeDerlTTYSteel w45 ¢mployed by Greenthwn Tru5t.Thi5 wès on norrn commerclal tem15 and tDtsI remuneratktn 15ncluding emphyér pension tontrfbLrtlcnsl wa5 £31,294120Z2'. E29,3231. Dudng the year ended 30th September 2023 Greendown Trust recesved net tanÉible products afid servtces of £2538 12022.. E2,8681 from PVC Wlndo*4 Medic i relared party vlhlch 15 controlled bythe 50n of S Sreert ITrusteel. Transacbons took place on fi¢rmal commerclal term5. T¥u5tee5 are qUired to dedare an Interest in contracts whlth they are connetked and subsequently wlthdraw from 8ny dlscusslon$ irtYolvin8 such ¢ontra¢t$. 20. CAPITAL GreerOnTrUSt15 1 charttoble rvrnpany. litntted byguaranteeand hasnosh8rec3pitsl.The mernbers have a8reed to Conbut £1 eachto the lfvrity's assets in the event of it windin4up, if it a55etSshou proveinsufficient to cover its liabilllle5. 21. TAXATION The charltable company 15 exempt from CDrpor3tion tsx on Its charltable acuve5 by vlrtue of section $05 cf the In¢omÈ and corr£t10n TixesArt 1988. The charltable Company Is MtVAT reglstered and does not recoverany èttribut•ble¥alue odded t4 Poge 24