The Gansey Charitable Trust
End of Year Financial Statements and Trustees’ Report
Year ending 31[st] March 2024
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 |
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THE GANSEY CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 4-7 |
| Independent examiner’s report | 8 |
| Receipts and payments | 9 |
| Statement of assets and liabilities | 10 |
| Notes to the Financial Statements | 11-12 |
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THE GANSEY CHARITABLE TRUST
TRUSTEES’ REPORT
For the year ended 31 March 2024
The Trustees present their annual report and accounts for the year ended 31 March 2024.
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
TGCT owns and maintains a property, called “Mallmore”, in the Isle of Man. It has 22 bedrooms & a flat; and is registered as a hostel with the Isle of Man Department of Tourism.
During 2023-24, 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. Around 300 children and young people, attend Beach Mission activities each summer, the vast majority of whom are island residents. A team of around 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 which are well attended by families, and other adults who support the Beach Mission.
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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 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.
The Trustees are continuing to work towards increasing awareness of Mallmore’s availability and hope to see continued 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, £26,297 was spent in 2023-24 (year to 31 March 2023 - £13,053). This included some indoor decoration, the installation of a new boiler and oil tank, and a deposit for the installation of solar panels. In addition, £3,427 was spent on fixtures, fittings and equipment (year to 31 March 2023 - £7,105).
The plans to pave the patios at the front of the house have been put on hold, but the installation of solar panels, including the refurbishment of the roof, was completed in summer 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 2023 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.
Typically, four Trustees’ Meetings are held each 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 “The Charity Governance Code”. Gansey is a niche charity with a very narrow remit, one part time member of 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.
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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 £3,297 (year to 31 March 2023 - £24,638).
Cash balances at 31 March 2024 amounted to £155,013 (31 March 2023 - £151,716). Expenditure on refurbishment and maintenance of Mallmore amounted to £26,297 (year to 31 March 2023 - £13,053). There is a rolling plan of refurbishment and maintenance work to ensure that Mallmore is maintained in good order.
During the 2023-24 financial year, income came primarily from donations and rent received from lettings and bookings. The Beach Mission occupies Mallmore rent free. It supports TGCT where it is able and the 2023-24 year donated £1,500 (year to 31 March 2023 – £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. No legacies were received in the year to 31 March 2024 (year to 31 March 2023 - £16,237).
The major expenditure in the year, apart from maintenance and improvement costs for the building, related to the purchase of fixtures, fittings and equipment of £3,427 (year to 31 March 2023 - £7,105), insurance of Mallmore which cost £3,964 (year to 31 March 2023 - £3,733), utility costs of £9,492 (year to 31 March 2023 - £6,166) and staff costs and other expenses of £3,267 (year to 31 March 2023 - £2,764).
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 2024, income from bookings during the TT fortnight totalled £19,580 (year to 31 March 2023 – £16,335)
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.
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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.
At 1[st] April 2023, the Legacy Development Fund stood at £72,234) (1[st] April 2022 - £72,800). There were no additions to the Fund during the year. The Trustees agreed to allocate the cost of the roof refurbishment and installation of solar panels to the Legacy Development Fund. Therefore the deposit of £11,603 was allocated to the fund, leaving a balance of £60,632. The Trustees will allocate future projects to this Fund as appropriate.
Bank balances at 31 March 2024 totalled £155,013 (at 31 March 2023 - £151,716).
The current total funds of £155,013 is considerably higher than required to meet our Reserves Policy. Circa 24,000 was earmarked for installation of solar panels (work completed in July 2024). We also keep £25,000 in the Reserve Fund for emergency costs.
While the remaining balance is high, a building of Mallmore’s size (22 bedrooms & 11 bathrooms/showers), requires substantial ongoing refurbishment. Additionally, getting work done on the IOM in recent years has been expensive and it has been extremely difficult to secure contractors. Covid and supply chain issues have also made planning work difficult. Consequently, these factors have led to the Trustees 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. On 2[nd] December 2024 TGCT was added to the IOM Register of Charities (IOM Charity No 1369).
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: 13/01/25
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Independent Examlner's Report to the Trustees of The Ganserf Charitable Trust I report to the Trustees on my examination of finanoal statements of The Gansey Charitsble Trust (The Trust) for the year to 31 March 2024. Respectlve responslbllltles of trustees and examiner As The Trustoes of the Trust you are rèsponsible for the preparatbon of the financ4al ststements in accordance with the requirements of the Charities Art 20111.the Act'l. I report in respert of my examination of the Trust's finanoal statements carried out under section 145 of the 2011 Act and in carrying out my examlnation I have followed all the applicable Dirertions given by The Charity Commission given by the Charity Commisslon under sertion 145 of the Act. Independent examlner's statement I have completed my exmaination. I confimi that no material matters have come to my attentlon in connection with examination giving me cause to believe that in any material aspect: accounting records were not kept in respect of the Trust as required bv section 130 of the Act. or 2. the financial statements do not accord with those records: or 3. the financial statements do not comply with the applicable requlrements concernin the form and content of financial statements set out in the Charities {Accounts and Reports) Regulations 21))8 other than any requlrement thai the flnandal statement5 gtve 3 "true and fair. view whith is not a matter considered as part of an independent examination. I have no conterns and ha come across no other matters in connection with the Èxamination to which attention should be drawn in this report in order to enable a proper understanding of the fi'nancial statements to be reached. Name= Richard Bray Relevant professional qualifications". AC4 DChA Address: 17, Thornhill Road. PLYMOUTH PL3 5NF Date: -ZrJl
The Gansey Charitable Trust
Receipts and Payments for the year to 31 March 2024
| Note Receipts Donations Legacies Gift Aid received for prior year Beach Mission donation Faith group bookings AirBnB Other bookings Rent received from tenants: current year prior year Interest received 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 Staff costs and expenses Utilities Phone and Broadband AirBnB rental running costs AirBnB commission Sundries Trustee expenses 5 Bank charges Total payments Excess of receipts over payments Cash funds at 1 April Cash funds at 31 March |
2024 2023 Total Total Funds Funds £ £ 5,484 4,479 ‐ 16,237 615 359 1,500 1,000 5,194 3,864 |
|---|---|
| 12,793 25,939 19,580 16,335 1,225 2,088 18,145 14,290 ‐ 2,285 1,521 711 |
|
| 53,264 61,648 |
|
| 5,454 6,828 1,523 5,659 7,717 ‐ 11,603 566 |
|
| 26,297 13,053 3,427 7,105 3,964 3,733 3,267 2,764 9,492 6,166 873 885 1,006 1,838 698 588 321 229 562 567 60 82 |
|
| 49,967 37,010 |
|
| 3,297 24,638 151,716 127,078 |
|
| 155,013 151,716 |
All funds received during the period were unrestricted
The deposit for the project to install solar panels 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
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The Gansey Charitable Trust Statement of assets and liabilities as at 31 March 2024
| Note | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Cash funds | |||||
| Current account | 3,626 | 4,840 | |||
| Deposit account | 31,387 | 26,876 | |||
| 60 Day notice account | 100,000 | 100,000 | |||
| 12 Month fixed rate saver | 20,000 | 20,000 | |||
| 155,013 | 151,716 | ||||
| Other monetary assets | |||||
| Gift Aid due for period | 871 | 615 | |||
| 871 | 615 | ||||
| Assets maintained for the | |||||
| Charity's own use (note 2) | |||||
| Mallmore improvements at cost | 2 | 199,963 | 188,360 | ||
| Fixtures, fittings & equipment | 2 | 29,072 | 25,645 | ||
| 229,035 | 214,005 | ||||
| Liabilities | |||||
| Oil delivered on 28 March | 794 | ‐ | |||
| Staff costs | 185 | ‐ | |||
| Payment due to tenants for household tasks | ‐ | 174 | |||
| 979 | 174 |
The attached notes on pages 11 and 12 form part of these financial statements
The financial statements were approved by The Trustees on 13 January 2025. and signed on their behalf by:
.....................................................
.....................................................
Andrew D Manuel Trustee
Evelyn M Stewart Trustee
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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 Year to 31 March 2024 ‐ solar panels deposit 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 Year to 31 March 2024 Payments in the current year consisted of: Improvements to property: Deposit for solar panels Network cabling Property refurbishment costs: Boiler replacement Oil tank replacement Fixtures, fittings & equipment: Soft furnishings for TT Sofa Water Boiler Mattresses Carpets/flooring Beds & Mattresses Washing machine Laptop Dorgards Small items |
2024 2023 £ £ 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 9,635 566 566 11,603 ‐ |
|---|---|
| 199,963 188,360 |
|
| 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 7,105 3,427 ‐ |
|
| 29,072 25,645 |
|
| 11,603 ‐ ‐ 566 |
|
| 11,603 566 |
|
| 5,759 ‐ 1,958 ‐ |
|
| 7,717 ‐ |
|
| ‐ 2,035 ‐ 195 ‐ 545 ‐ 1,080 ‐ 3,250 1,677 ‐ 609 ‐ 653 ‐ 299 ‐ 189 ‐ |
|
| 3,427 7,105 |
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The Gansey Charitable Trust
Notes to the financial statements
3. Staff Costs
One part time member of staff was employed throughout the year to 31 March 2024 (year to 31 March 2023 ‐ none) The total salary costs paid were £3267. No social security or pension costs were paid.
4. Funds
| Designated funds At 1 April 2023 Utilised in period (solar panel deposit) At 31 March 2024 General fund At 1 April 2023 Payments allocated to the Legacy Development Fund Excess of receipts over payments in period At 31 March 2024 Total funds at 31 March 2024 |
Emergency Legacy repairs Development Fund £ £ £ 25000 72234 97234 0 ‐11603 ‐11603 |
Emergency Legacy repairs Development Fund £ £ £ 25000 72234 97234 0 ‐11603 ‐11603 |
|---|---|---|
| 25000 60631 |
85631 | |
| £ 54482 11603 3297 |
||
| 69382 | ||
| 155013 |
The Trustees have designated reserves to a legacy development fund. This represents legacies received from Fay Rickard, Geoffrey Lowe, Irene Dixon, Tom Watts and Mr & Mrs Young. The intention of the Trustees is to continue to spend these funds on specific projects to develop Mallmore. The total amount that has been designated to the fund is £82,435 of which £21,804 has been utilised at 31 March 2024.
5. Trustee Expenses
No Trustees received any remuneration or benefits from the Charity in the year to 31 March 2024 (year to 31 March 2023 none).
Three Trustees received expenses of £562 in the year to 31 March 2024 in relation to travel and subsistence (year to 31 March 2023, £420 ‐ two Trustees)
6. Related party transactions
In the year to 31 March 2024 the following related party transactions took place involving The Trustees:
Mr DA Stewart is a Trustee of SUMT. SUMT was charged £930 for the use of facilities for residential events at Mallmore in the year to 31 March 2024. £720 was charged for similar facilities in the year to 31 March 2023.
Mr DA Stewart, Mrs EM Stewart, and Mr AQ Rickard are leaders of The Port St Mary Beach Mission which uses Mallmore rent free in August each year.
7. Committments
At 31 March 2024 the Charity was committed to expenditure of £11,603 to install solar panels at Mallmore. A deposit of a similar amount was paid before the year end. There were no similar commitments at 31 March 2023.
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