The Gansey Charitable Trust End of Year Financial Statements and Trustees, Report Year ending 31" March 2023 ## **THE GANSEY CHARITABLE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr K Cubbon| |---|---| ||Mr A D Manuel| ||Mr J J Matheson| ||Mr A Q Rickard| ||Mr D A Stewart| ||Mrs E M Stewart| |**Secretary**|Mrs E M Stewart| |**England & Wales Charity Commission number**|801860| |**Principal address**|Bowden Barn, Church Hill, Eggbuckland| ||Plymouth| ||Devon| ||Great Britain| ||PL6 5RB| |**Website**|www.gansey.im| |**Bankers**|CAF Bank Limited| ||25 Kings Hill Avenue, Kings Hill| ||West Malling| ||KENT| ||ME19 4JQ| ||Shawbrook Bank Limited| ||Lutea House, Warley Hill Business Park, The Drive| ||Great Warley, Brentwood| ||Essex, CM13 3BE| |**Solicitors**|Poole Alcock LLP Solicitors| ||Lychgate Barn| ||Tarporley| ||Cheshire| ||CW6 0AG| |**Independent examiner**|Richard Bray ACA DChA| ||17 Thornhill Road| ||Plymouth| ||PL3 5NF| 2 ## **THE GANSEY CHARITABLE TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|4-7| ||8| |Receipts and payments|9| |Statement of assets and liabilities|10| |Notes to the Financial Statements|11-12| 3 ## **THE GANSEY CHARITABLE TRUST** ## REPORT ## For the year ended 31 March 2023 The Trustees present their annual report and accounts for the year ended 31 March 2023. ## **The Charity** The Gansey Charitable Trust (TGCT) was established as a charitable trust by a deed executed on 6 July 1989 and which is subject to a supplemental trust deed dated 18 November 2013. TGCT can use its capital and income for charitable purposes as The Trustees see fit within England and elsewhere. ## **Objectives & Activities** is registered as a hostel with the Isle of Man Department of Tourism. During 2022-23, as in previous years, TGCT has worked in partnership with: - The Port St Mary SU Beach Mission, providing a base for team accommodation and activities for children and young people - Scripture Union Ministries Trust (SUMT) providing facilities from time to time for residential events and activities that benefit the community as a whole Our focus is on Christian activities in the Isle of Man. The Trustees reviewed the original 1989 Trust Deed during the year ending March 2013 in order to introduce a supplementary deed to provide a framework for updated best practice. Additionally, in 2013 the Trustees produced an "Aims and Ethos" document to more precisely identify the focus of TGCT. The aims and ethos document is: The Gansey Charitable Trust seeks to support Christian mission and ministry predominantly in the Isle of Man. In particular, the Trust will: - Provide facilities for the Port St Mary SU Beach Mission for up to one month every summer, as required - Provide facilities for other Christian organisations, including those working with children and young people, or providing leadership training. Mallmore is used as the base for activities for the annual Port St Mary SU Beach Mission, and storage is provided on the property for their equipment and resources. The Beach Mission typically runs for a fortnight every summer, and is free of charge and open to all, having run almost every year since it was established in 1901. After two smaller scale events during the Pandemic, it has returned to a similar level as previously, working with over 300 children and young people, the vast majority of whom are island residents. A team of over 60 adults provide up to three sessions per day with children divided into six age groups. Activities include games, sports, crafts, drama, music and interactive Bible Teaching. Activities are open to all children and young people, and provision is made for children with additional needs by team members who are appropriately experienced. In addition, there are typically three or four large family/all age events. TGCT has continued its partnership with SUMT which has contact with over 12,000 children and young people each year through their work in churches and schools. Although SUMT no longer use Mallmore for 4 their office and staff accommodation, they have continued to use Mallmore on a regular basis for their residential youth weekends and other occasional activities. As our closest partner organisation, they receive a 50% discount on our regular charges. developing the use of the building was a slow process because of the restrictions of the Pandemic. However, the use of the building has been gradually increasing, with visits from churches and a local school. The Trustees are continuing to work towards increasing awareness ntinued growth in its use. ## **Maintaining and improving Mallmore** Our strategy is to maintain and continually develop the building in order to upgrade the facilities for the organisations which use it, in line with our charitable objectives, £13,053 was spent in 2022-23 (year to 31 March 2022 - £42,936). This included upgrading of network cabling, indoor decoration and external paintwork, and the replacement of some carpets. As well, £7,105 was spent on fixtures and fittings (year to 31 March 2022 - £5,947) Progress has been made on projects to redesign and pave the front of the house, and the installation of solar panels on the roof. It is hoped that these projects will be completed in 2024. ## **Trustees and Governance** The activities of TGCT are administered by its Trustees with day to day running of Mallmore enabled by a number of local supporters to whom we are most grateful. The Trustees serving from 1 April 2022 to the date this report was approved were: Mr Kevan Cubbon Mr Andrew D Manuel Mr Jeremy J Matheson Mr Andrew Q Rickard Mr David A Stewart Mrs Evelyn M Stewart Mr A D Manuel continued as Chairman, Mrs E M Stewart as secretary & financial administrator during the year. to review the work of TGCT and make plans for future developments. There are no sub-committees. New Trustees are appointed by a majority decision of the existing Trustees. The Trustees have a broad range of experience which is relevant to the needs of the TGCT including experience on other trusts, business, management, training and development, engineering, finance and Manx Government practice. ## We have reviewed paid staff and a small number of supporters with little fund raising. Much of what is suggested is not relevant to our situation. We have, however, worked on a number of the areas highlighted in the principles, and will continue to check our ethos and procedures annually against the good practice suggested in the document. In particular, as we look to recruit new Trustees we will seek to apply the suggestions in the document to our situation. 5 ## **Financial Review** The attached financial statements set out on pages 9 to 12 show the current state of finances which the Trustees consider to be sound. In the period there was an excess of receipts over payments of £24,638 (year to 31 March 2022 excess of payments over receipts of £43,396). Cash balances at 31 March 2023 amounted to £151,716 (31 March 2022 was £127,078). Expenditure on refurbishment and maintenance of Mallmore amounted to £13,053 (year to 31 March 2022 - £42,936). There is a rolling plan of refurbishment and maintenance work to ensure that Mallmore is maintained in good order. During the 2022-23 financial year, income came primarily from a combination of donations/legacies, and rent received from lettings and bookings. The Beach Mission occupies Mallmore rent free. It supports TGCT where it is able and the 2022-23 year donated £1,000 (year to 31 March 2022 £1,000). From time to time TCGT receives legacies. These are added to the Legacy Development Fund and are used primarily for major building/development projects, and in keeping with any stipulations in the terms of the legacies. Two legacies were received in the year to 31 March 2023, totalling £16,237 (year to 31 March 2022 - £3,292). These legacies came from the Estates of the late Mr & Mrs Young, and the Late Thomas Watts. The major expenditure in the year, apart from maintenance and improvement costs for the building, related to the purchase of fixtures and fittings of £7,105 (year to 31 March 2022 - £5,947), insurance of Mallmore which cost £3,733 (year to 31 March 2022 - £3,417), utility costs of £6,166 (year to 31 March 2022 - £6,361) and cleaning and other household costs of £2,764 (year to 31 March 2022 - £970). The TT motor bike races, and Manx Grand Prix are international events, attracting many thousands of visitors to the Isle of Man. During these events, the Isle of Man Government encourages individuals, charities and businesses to provide accommodation for riders, marshals and spectators during these few weeks. By renting out rooms during these events, TGCT is able to generate income which enables us to provide accommodation to churches, youth groups and schools at an affordable rate during the other 48 weeks of the year. In the year to 31 March 2023, income from bookings during the TT fortnight totalled 16,335 (year to 31 March 2022 nil) Given the healthy bank balances, the projected spend to develop & maintain Mallmore, and projected income from bookings, the Trustees are confident that TGCT remains a going concern. The Trustees are grateful to many people who have made donations over the year, both financial and of time, without which the development and activities at Mallmore would not have been possible. ## **Risk Management** The Trustees consider the major risks to TGCT. It was previously recognised that a key risk was the loss of rental income from SUMT vacating Mallmore in 2020. TGCT prepared for this and have been operating successfully since the departure of SUMT. TGCT prepares an annual budget to ensure prudent financial management and ensure that TGCT remains financially secure. 6 ## **Reserves Policy** TGCT reserve policy for covering unexpected emergency repairs for the property is to hold at least £25,000. This amount is shown as a designated fund in the accounts. With the inclusion this year of the legacies received from the estates of the late Mr & Mrs Young, and Thomas Watts, the Legacy Development Fund stood at £72,800. £566 of this has been allocated to the Project to upgrade the Data Networking leaving a balance of £72,234 in the Legacy Development Fund. The Trustees will allocate future projects to this Fund as appropriate. This is likely to include the anticipated cost of approximately £40,000 for the installation of solar panels. Bank balances at 31 March 2023 totalled £151,716 (at 31 March 2022- £127,078). The current total funds of £151,716 is considerably higher than required to meet our Reserves Policy. Circa £40,000 is earmarked for installation of solar panels, and £10,000 for upgrades to the front of the house to make it more suitable for children and equipment during the annual Beach Mission. We also keep £25,000 in the Reserve Fund for emergency costs. While the remaining £75,000 seems high, the reality is that in a building of this size (22 bedrooms & 11 bathrooms/showers), ongoing refurbishment costs are substantial. Additionally it should be noted that getting work done on the IOM in recent years has been both expensive and extremely difficult to secure contractors, due to Covid and supply chain issues. Consequently the Trustess have been taking a cautious approach to using funds for refurbishment. ## **Registering TGCT as a Charity in the Isle of Man** The Trustees have reviewed legislation for charities in the Isle of Man, and believe it is appropriate that TGCT register as a charity in the Isle of Man. TGCT is in dialogue with the Isle of Man authorities and is considering the best process to implement this change. ## **Public Benefit** The Trustees are aware of the public benefit guidance issued by the Charity Commission in relation to section 4 of the Charities Act 2006. The Trustees have sought to benefit the public by providing suitable accommodation for those working on the Scripture Union Port St Mary Beach Mission team. This is linked to the aims of the Trust, since the beach Mission seeks to share the Christian Gospel in the Isle of Man. The Scripture Union Mission activities are open to all, so further benefitting the public, in particular young people. Outside of Beach Mission, the house is used by Scripture Union Ministries Trust, Churches, Schools and other groups for short-term retreats, training and planning, and other activities as agreed by the Trustees. On behalf of the Board of Trustees A D Manuel, Trustee. Dated: 29/01/24 7 Independent Examlner'5 Report to the Trustees of The Gansey Charltable Trust I report to the Trustees on my exmination of financial statements of The Gan5ey Charitable Trust IThe Tru$tl for the yejr to JI March 2023. Respectlve responslbllities of trustees and examlner Ag Tho Truste@s of tho Triist you are rosponslbl@ for the preparation of the finanrial qtatprnpnt% in accordance with the requirements Of the Charities Art 20111'the Act'l I report in respect of my examlnation of the Trust's financial statemènts carried out under settion 145 of the 2011 Act and in carrylng out my examination I have followed all the applicable D1￿CtIonS given byThe Charity Commission 8iven by the Charity Commlssion under section 145 of the Act. Independent examlner's statement I have completed my exmainatlon. I confirm that no material matters have come to my attention in connection wlth examination giving me cause to believe that in any material aspett.. accounting records were not kept irt respect of the Tnjst as requlred by section 130 of the Act,. or 2. the financial statements do not accord with those rettsrds- or 3. the financial ststements do not tomply with the applicable requlrments conceming the forn and content of financial statements set out in the Charities IAccounts and Reports) Regulatlons 2008 other than any requlrement that the ffnanclal 5taternent5 glve a 'true and fair. view which is not a matter considered 25 part of an independent examination. I have no concerns and have come acr05S AO other matters in Connection with the examlnatlon to which attention should be drawn in this report in order to enable a proper understanding of the financlal Statements to be reached. Narre: Rlchard Brav Relevant professional qualifications.. ACA DChA Address-. 17, Thornhill Road, PLYMOUTH PL3 5NF Oate.. 30/01/24 ## The Gansey Charitable Trust Receipts and Payments for the year to 31 March 2023 |Note
**Receipts**
Donations
Legacies
Gift Aid received for prior year
Faith group bookings
Airbnb bookings
Other bookings
Rent received from tenants:
current year
prior year
Interest received
Sundry income
Total receipts
**Payments**
Routine maintenance
Painting work
Property refurbishment work
2
Improvement expenditure for property
2
Total development and maintenance costs
Fixtures, fittings and equipment
2
Insurance
Cleaning and other household costs (excluding TT)
Utilities
Phone and Broadband
AirBnB rental running costs
AirBnB commission
Sundries
Trustee expenses
4
Bank charges
Total payments
Excess of receipts over payments/excess of
payments over receipts
Cash funds at 1 April
Cash funds at 31 March|2023
2022
Total
Total
Funds
Funds
£
£
4,479
4,502
16,237
3,292
359
671
4,864
-| |---|---| ||25,939
8,465
16,335
-
2,088
4,194
14,290
4,800
2,285
-
711
488
-
150| ||61,648
18,097| ||6,828
5,705
5,659
-
-
27,596
566
9,635| ||13,053
42,936
7,105
5,947
3,733
3,417
2,764
970
6,166
6,361
885
1,247
1,838
-
588
-
229
519
567
-
82
96| ||37,010
61,493| ||24,638
43,396
-
127,078
170,474| ||151,716
127,078| All funds received during the period were unrestricted The project to install network cabling was allocated to the Legacy Development Fund All other payments were allocated to the General Fund The attached notes on pages 11 and 12 form part of these financial statements _9_ ## The Gansey Charitable Trust Statement of assets and liabilities as at 31 March 2023 |Note
**Cash funds**
Current account
Deposit account
60 Day notice account
12 Month fixed rate saver
**Other monetary assets**
Gift Aid due for period
Rent arrears due from tenants
Deposit with Manx Utilities
**Assets maintained for the**
**Charity's own use (note 2)**
Mallmore improvements at cost
2
Fixtures, fittings & equipment
2
**Liabilities**
Manx Utilities (electricity) for January - March
Maintenance - John Collis
Payment due to tenants for household tasks|2023
£
4,840
26,876
100,000
20,000
615
-
-
188,360
25,645
174|£
151,716
615
214,005
174|2022
£
1,908
5,170
100,000
20,000
359
2,285
120
187,794
18,540
600
50
675|£
127,078
2,764
206,334
1,325| |---|---|---|---|---| The attached notes on pages 11 and 12 form part of these financial statements The financial statements were approved by The Trustees on 29th January 2024 and signed on their behalf by: ...................................................... ...................................................... Andrew D Manuel Trustee Evelyn M Stewart Trustee _10_ ## The Gansey Charitable Trust Notes to the financial statements ## 1. Basis of financial statements The financial statements have been prepared on the receipts and payments basis as permitted by S133 Charities Act 2011 ## 2. Assets maintained for the Charity's own use TGCT owns the freehold of Mallmore a property and former guesthouse at Port St Mary on the Isle of Man. The property was gifted to TGCT on 29 April 1997. In 2006 the property was valued by The Trustees at £635,000. The valuation was based on a formal market valuation . on 6 January 2004 as subsequently updated informally in 2006. Fixtures and fittings at the property were valued by The Trustees at £35,000 at a similar time. ## _Subsequent improvements to the property_ |These are as follows:
Year to 31 March 2008
Year to 31 March 2009
Year to 31 March 2010
Year to 31 March 2011
Year to 31 March 2012
Year to 31 March 2013
Year to 31 March 2014
Year to 31 March 2015
Year to 31 March 2016
Year to 31 March 2017
Year to 31 March 2018
Year to 31 March 2019
Year to 31 March 2020
Year to 31 March 2021
Year to 31 March 2022
Year to 31 March 2023 (see below)
_Fixtures, fittings and equipment_
Year to 31 March 2015
Year to 31 March 2016
Year to 31 March 2017
Year to 31 March 2018
Year to 31 March 2019
Year to 31 March 2020
Year to 31 March 2021
Year to 31 March 2022
Year to 31 March 2023 (see below)
**_Payments in the current year consisted of:_**
_Improvements to property:_
Installation of Tea Bar in Dining Room
Network cabling
_Property refurbishment costs:_
Refurbishment of flat, including damp proofing
Decoration and window repairs to outside front
_Fixtures, fittings & equipment:_
Beds & Mattresses
Combination Locks & key safe
Catering toaster & steam cleaner
Soft furnishings for TT
Sofa
Water Boiler
Mattresses
Carpets for flat
Fuchia room carpet
Cushag room carpet
Shower room flooring|2023
2022
£
£
25,100
25,100
15,852
15,852
23,219
23,219
28,672
28,672
4,447
4,447
45,968
45,968
7,254
7,254
16,183
16,183
3,040
3,040
-
-
1,843
1,843
2,715
2,715
3,866
3,866
-
-
9,635
9,635
566
188,360
187,794
3,095
3,095
1,858
1,858
1,127
1,127
2,221
2,221
927
927
1,639
1,639
1,726
1,726
5,947
5,947
7,105
25,645
18,540
-
9,635
566
566
9,635
-
21,295
-
6,301
-
27,596
-
812
-
1,299
-
844
2,035
-
195
-
545
-
1,080
-
-
2,992
950
-
1,634
-
666
-
7,105
5,947| |---|---| _11_ ## The Gansey Charitable Trust Notes to the financial statements ## 3. Funds ## _Designated funds_ |At 1 April 2022
Arising in period
Utilised in period (Data Networking)
At 31 March 2023|Emergency
Legacy
repairs
Development Fund
£
£
£
25,000
56,563
81,563
-
16,237
16,237
-
566
-
566
-
25,000
72,234
97,234| |---|---| The Trustees have designated reserves of £72,234 to a legacy development fund. This relates to legacies received from the late Mrs Fay Rickard, Geoffrey Lowe, Mr & Mrs Young and Thomas Watts. The intention of the Trustees is to spend these funds on a specific project or projects to develop Mallmore. ## General fund |At 1 April 2022
Funds allocated to the Legacy Development Fund
Payments allocated to the Legacy Development Fund
Excess of receipts over payments in period
At 31 March 2023
Total funds at 31 March 2023|£
45,515
16,237
-
566
24,638
54,482
151,716| |---|---| ## 4. Trustee Expenses In the year to 31 March 2023, Trustees received expenses of £567 (year to 31 March 2022- £nil) in respect of visiting Mallmore. ## 5. Related party transactions In the year to 31 March 2023 the following related party transactions took place involving The Trustees: ## Mr DA Stewart is a Trustee of SUMT: * SUMT was charged £720 for the use of facilities for residential events at Mallmore in the year to 31 March 2023 £645 was charged for similar facilities in the year to 31 March 2022 Mr DA Stewart, Mrs EM Stewart, and Mr AQ Rickard are leaders of The Port St Mary Beach Mission (PSMBM) which uses Mallmore rent free in August each year. During the year PSMBM made a volunary donation to TGCT of £1,000 (year to 31 March 2022 - £1,000) _12_