County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## Company No. 02420411 

## Charity No. 900239 

## **County of Gloucestershire Community Foundation** 

## **Report and Audited Financial Statements** 

## **31 December 2023** 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

|**Reference and administrative details**|**3**|
|---|---|
|**Report of the Trustees**||
|Chairman’s Statement|**5**|
|Trustees Report|**6**|
|Financial Review and Governance|**13**|
|Statement of Responsibilities of Trustees|**16**|
|**Independent Auditors Report**|**17**|
|**Statement of Financial Activities**|**21**|
|**Balance Sheet**|**22**|
|**Statement of Cashflows**|**23**|
|**Notes to the Financial Statements**|**24**|



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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

Company Number 02420411 Charity Number 900239 Registered Office The Manor Boddington Cheltenham Gloucestershire GL51 0TJ 

Trustees Trustees, who are also Directors under company law, who Served throughout the year were as follows: 

Dr C Sharp Chair (15 August 24) Ms T Clark Vice-Chair Mr J Tabor KC Trustee Mr J Dunley Trustee Mr R Ingle Trustee Ms J Tufnell Trustee Ms E Lord Trustee 

Other Trustees serving during the year and upto the date of this report were as follows: 

||Mr G Miller|High Sheriff|(resigned 22 March 23)|
|---|---|---|---|
||Mr H Robinson|High Sheriff|(appointed 22 March 23)|
||Ms C Thayers|Trustee|(appointed 13 September 23)|
||Mr G Smith|Trustee|(appointed 13 September 23,|
||||resigned 22 June 24)|
||Mrs K Hartshorn|Trustee|(appointed 13 September 23)|
||Mr M Williams|Trustee|(appointed 13 September 23)|
|President|Dame Janet Trotter|OBE DBE CVO||
|Vice Presidents|Dr R Head DL OBE|<br>Mr M Gran||
||Mrs T Hitchins|Mr R Jones||
|Key Personnel|Mrs T Nelson|Chief Executive||



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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment Managers Sarasin Investment Management Juxon House 100 St. Paul's Churchyard London EC4M 8BU CCLA 1 Angel Lane London EC4R 3AB Rathbones Investment Management Ltd 10 Queen Street Bristol BS1 4NT Independent Auditors Randall and Payne LLP Chartered Accountants Statutory Auditors Chargrove House Shurdington Road Cheltenham Gloucestershire GL51 4GA 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **CHAIR’S STATEMENT** 

Although we find ourselves in a challenging climate, The Gloucestershire Community Foundation saw another successful year. Integral to the success is the small team of staff employed to lead the Foundation and ensure our strategy is implemented. The team would not be able to achieve the outcomes without the wide and varied community members who are trustees and members of our community panels, ensuring the support to the community of Gloucestershire can be achieved. 

Core in the Community Foundation’s beliefs is ensuring decision making is rooted in our communities. This is achieved by all decision-making grant panels being formed by individuals from across Gloucestershire who live and work in the communities we serve. 

We are pleased that we have seen an increase in community panel members and our team of trustees has grown by four within the year. This presents the Community Foundation with a key opportunity to embed more skills and knowledge from the community within the organisation as we develop. 

Achievements of note, in addition to our key grant making activity, include raising £100,000 through the Poverty Hurts campaign and our first community fundraising event - the Great Escape car rally. We look forward to building on this activity in the next financial year. 

Finally, we would like to express thanks to Dr Charlie Sharp who has served as chair of trustees of the Community Foundation for the last three years and stepped down in March this year (resigned as a trustee on 15 August 2024). We are grateful to Charlie for his contribution towards this statement. 

Henry Robinson, following his High Sheriff year, has taken over as the chair and will work with the CEO to further develop the charity. 

Henry Robinson (Sep 26, 2024 08:10 GMT+1) 

Henry Robinson Chair of Trustees Date: 11[th] September 2024 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **TRUSTEES’ REPORT** 

The trustees present their annual report and financial statements for the year ended 31[st] December 2023, which also incorporates the requirement under Company Law of a Director’s report. 

The financial statements comply with the Charities Act 2011, Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). 

## **Introduction** 

We saw the cost-of-living crisis persist during 2023, continuing to affect the work of the charities and community groups we support.  In response, we launched our Poverty Hurts appeal as we recognised poverty in Gloucestershire was becoming a longer-term issue facing a broad spectrum of people across our communities.  Indeed, rising energy and food bills were not only a cause for concern in the winter but, in fact, all year round; and not just for the elderly but also for people with disabilities and health issues as well as young people and families, in fact; people of all ages. 

Both new and long-standing funds continue to provide much needed support to our communities. More than 40 different funds owned by local individuals, families, businesses and other organisations actively supported our grant making during the year. We are incredibly grateful to them and equally to those individuals and businesses who have donated to our appeals. 

To help support our team and ensure the smooth running of the organisation we successfully recruited a Project and Operations Manager, Lucy Pollock. Lucy was previously the General Manager for the Gloucestershire charity the ITSA Digital Trust. Lucy’s role as a member of the senior management team is to provide support to the CEO and to manage the daily operational activities including the development and delivery of new projects, events and marketing and communications. 

In the latter half of the year, we were delighted to welcome four new trustees to the board, Claire Thayers, Geoff Smith, Kate Hartshorn and Matthew Williams, taking the total number of trustees to 12 (the board maximum). 

## **Review of achievements** 

In 2023 the Gloucestershire Community Foundation (GCF) distributed over £492k to 216 community projects and individuals (including payments from pre-existing multi-year grants). 

We continued to run our regular funding programmes to support the many needs within the county. Through our largest grants programme, the Main Grants Programme, we received and processed 91 applications, and 55 grants were awarded with a total value of £220k. 

We launched the Poverty Hurts Appeal with our first ever fundraising event, the GCF Great Escape Car Rally – a navigational rally set in the Cotswolds to raise awareness of the lack of services and the challenges facing communities living in rural areas.  The event was a huge   success, with 25 cars and 70 people taking part, supported by local businesses, charities and individuals. 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

We successfully met our year target, raising £100,000 for the Poverty Hurts Fund, enabling 80 grants totalling £139k to organisations supporting people living in poverty including community foodbanks, warm spaces, social groups for vulnerable people, organisations providing fuel and energy vouchers, organisations providing money management, benefits and debt advice and groups providing hot meals to the hungry. 

Our work to support marginalised groups, young people facing disadvantage, the elderly and people with disabilities was supported by the Freemasons fund, with 13 grants awarded totalling £22k. 

During 2023, the High Sheriff's Fund awarded £56k in grants to 22 organisations.  The fund also supports the Getting Court Programme – arranging court visits for young people to deter them from getting involved in crime - this year enabling 10 visits. 

The Carers Gloucestershire Legacy Fund opened back in 2020 with funds of more than £370k which has been distributed to organisations supporting adult and young-adult carers in Gloucestershire with grants of up to £10k a year for up to three years. Whilst most of the multi-year grants have completed, additional funds received through a legacy in 2022 meant there were still a small number of payments made through this fund in 2023 and we have been delighted with the impact of this programme supporting a community that faces multiple challenges and is frequently overlooked. 

We were pleased to welcome a new funding programme during the year. The South West Enterprise Fund (SWEF) provides valuable support to young Gloucestershire entrepreneurs through its own grants programme as part of a network of funds throughout the south west of England. The funding supports young people aged 18-30, who have faced hardship or other challenges, providing financial support for business startup costs. We awarded grants to seven applicants totalling £12k. 

Our work to support the leadership and resilience-building of Gloucestershire charities through our INVEST Leadership Programme continued, providing mentoring for 11 charity leaders in the county. Working in partnership with the Cranfield Trust the programme provides experienced mentors to help charity leaders develop their own abilities and increase their effectiveness as leaders. 

We also continued our online Let’s Talk events, attracting large audiences (sometimes up to 100 people) to discuss issues facing our local communities, highlight funding opportunities and find out more about the needs of the organisations we are working to support. 

Continuing with the spirit of collaboration and learning, we maintained fortnightly meetings with the Gloucestershire Funders collaboration, a group of local funders, and local district representatives, who work together to review applications and share insight into projects and organisations supporting Gloucestershire communities. 

We finalised a long-term project to develop a pocket garden on land owned by GCF in the centre of Gloucester. The land, originally gifted to GCF, had been destined to become a car park but after visiting a successful community garden in Glasgow, the CEO was moved to develop a similar project in partnership with local charity the Nelson Trust. The project has been a triumph of the charity and business sector working together for the benefit of the  community.  Our thanks to law firm Charles Russell Speechlys, who prepared the lease agreement pro-bono, and to the many other businesses who have provided their support. 

As an open and trusting grant maker with the Institute for Voluntary Action Research (IVAR), this year our team had an opportunity to reflect on what we had achieved in our first year with 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

the support of IVAR in arranging peer reviews of our work, which will help IVAR to inform funder practice. 

Having been selected for a second year for an independent review by the Foundation Practice Rating, which rates organisations on Diversity, Accessibility and Transparency, we were extremely proud to see our rating improve from a B in 2022 to an A in 2023. 

This year we formalised our fundholder visits to organisations they have supported and held the first of a series of Seeing is Believing Visits.  The visits enable our donors to see firsthand the impact of their donation. Our first visit was to Centred Horseplay, where members of our Freemasons grant panel learned about the therapeutic value of young people engaging with horses. 

We marked the end of the year with a fantastic celebration of GCF’s work in the county at our annual celebration, held at the Old Gore and kindly sponsored by CCLA and Jane Tufnell. 

We would like to thank all our donors, fundholders and volunteers for their continued support. Our work has never been more needed; we will continue to innovate and advocate to help strengthen our sector, so Gloucestershire is a great place to work, rest and play. 

## **The impact of our funding** 

Analysing grants can be challenging as the work of our grantees often doesn’t fit neatly into a tick box and neither do the people in our county that our grants support. One grant will often help a broad spectrum of people and have many different outcomes (some expected and others in addition to the original aims). Based on both figures reported and applicant estimates, grants approved through our programmes have supported almost 60,000 people during the year. 

Case Study from Cotswold Friends who received a Cost of Living Crisis grant in 2023 towards their work with vulnerable people living in the Cotswolds: 

_“Mr A lives on his own in a small flat. He is reliant on his weekly benefit as he was involved in a burns accident that has led to long term medical disability. Since the cost of living crisis, Mr A has really found life difficult; in the month of January 23 Mr A came into Cotswold Friends and said he was really struggling, and he has 0.13p left on his gas meter. He does not get access to any money until Thursday and feels very cold and unable to have a hot shower. He said he has used all his emergency gas. Support Services Manager spoke to our CEO who agreed to give Richard £20 out of our Hardship Fund, this will allow him to top up his meter that will last him until Thursday. Mr A was very grateful. Later in the same year, Mr A’s cooker broke, he was unable to afford to buy a new one. He currently gets £165 per week for his benefit but this does not stretch far enough. He needs to pay for his gas/ electric, water, food shopping and tv license with this money. He has two adult children who visit and ask for extra support. We have completed a referral to Citizens Advice, and we have provided him with a foodbank voucher. We have also completed an application to the Edith Mann Charity, providing funds to local people. Citizens Advice should be able to provide support with White Goods.”_ 

## **Grants Analysis** 

The following analysis is for grants approved in 2023 and does not include subsequent multiyear grant payments. 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **GRANTS AWARDED BY VALUE BY GEOGRAPHIC LOCATION** 


**----- Start of picture text -----**<br>
GEOGRAPHY South<br>Tewkesbury Gloucestershire<br>6% 1%<br>Countywide<br>Cheltenham 16%<br>10%<br>Cotswolds<br>8%<br>Gloucester<br>27%<br>Forest of Dean<br>15%<br>Stroud<br>17%<br>**----- End of picture text -----**<br>


## **GRANTS AWARDED BY VALUE BY VITAL SIGNS** 


**----- Start of picture text -----**<br>
VITAL SIGNS<br>Work<br>Housing &<br>Safety 3%<br>Homelessness<br>2%<br>5%<br>Stronger<br>Communities<br>5%<br>Learning<br>6%<br>Arts, Culture &<br>Heritage<br>5% Healthy Living<br>56%<br>Fairness<br>18%<br>**----- End of picture text -----**<br>


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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **GRANTS AWARDED BY VALUE BY PRIMARY BENEFICIARY** 


**----- Start of picture text -----**<br>
PRIMARY BENEFICIARY<br>Minority<br>Other<br>communities<br>1%<br>7%<br>Children and<br>Older People Young People<br>10% 26%<br>Families/Parents<br>/Lone Parents<br>8%<br>Disadvantaged<br>People with  communities<br>disabilities/healt<br>15%<br>h issues<br>18%<br>People in<br>poverty/on low<br>incomes<br>15%<br>**----- End of picture text -----**<br>


## **Sustainable Development Goals** 

Alongside the measurements we have shared for many years (geographical spread of grants, beneficiary types and vital signs categories), we are continuing to collate data based upon the UN Sustainable Development Goals (see below for further information). 

In 2015, 193 countries adopted the UN Sustainable Development Goals (SDGs). The 17 SDGs are integrated, so they recognise that action in one area will affect outcomes in others, and that development must balance social, economic and environmental sustainability. 

As one of 1,800 Community Foundations across the globe, Community Foundations are important global actors we work to address issues like health inequality, poverty and access to education. The SDGs are an ambitious roadmap to improve quality of life for everyone and provide a common language both internationally but also between philanthropists, the business sector, government, civil society and the charity sector. 

The table below indicates the number of grants we awarded in 2023 supported one or more of the SDGs: 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

||**59**grants provided financial support, benefit advice, housing and|grants provided financial support, benefit advice, housing and<br>homelessness support or other support to those living in poverty in our<br>communities.|
|---|---|---|
|~~Ss~~<br>(4<br>4|**35**grants funded projects providing food or skills to communities to grow or<br>~~Ss~~|grants funded projects providing food or skills to communities to grow or<br>cook food. Projects supported included foodbanks, voucher schemes,<br>cookery groups and lunch clubs.<br>~~Ss~~|
|y/'e|**140**grants supported improved mental health, physical health, provide life|grants supported improved mental health, physical health, provide life<br>opportunities, reduce isolation or loneliness or reduce the impact of<br>specific illnesses.|
|LT|**92**grants supported improved education provision, improved knowledge|grants supported improved education provision, improved knowledge<br>and skills development for children, young people and adults. Projects<br>supported included early years education and preschools, specialist<br>education settings, extra-curricular activities for young people and adult<br>education such as digital advice and learning sessions.|
|4=>|**154**grants supported people in communities to reduce the inequalities be it|grants supported people in communities to reduce the inequalities be it<br>through race, ethnicity, disability, age, location, education or income.<br>Projects supported highlighted inequality and worked to tackle root<br>causes.|
|1hmans<br>alts|**10**grants worked to develop stronger communities, bringing people|grants worked to develop stronger communities, bringing people<br>together to help each other and improve sustainability.  Grants awarded<br>included those to community growing schemes and allotments, projects<br>that provided spaces for communities to come together and programmes<br>to educate communities about living with great consideration for<br>environmental sustainability.|
||**58**grants awarded to projects or groups that worked collaboratively or in|grants awarded to projects or groups that worked collaboratively or in<br>partnership to achieve more for their communities or strengthen the<br>impact of their work. Our research has shown a keen interest for working<br>in collaboration in the voluntary sector and it is something we are stiving<br>to support and encourage.|



## **Future plans and priorities** 

We continue to raise funds for the Poverty Hurts Appeal and have set a target of a further £100k in 2024. 

To support our fundraising efforts the Great Escape Car Rally event piloted with excellent feedback in 2023 will run again in 2024 with additional cars and participants. 

We plan to launch our Community Investors Fund, an opportunity for businesses and individuals to give back to their communities, which will help to increase the value of our grant making in 2024. 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

Our Main, High Sheriff and Freemasons grant programmes will continue with three rounds of funding per programme per year and we will review their impact annually whilst also seeking to develop new funding opportunities to meet the needs of Gloucestershire communities. Alongside our grant making work, we plan to continue our INVEST mentoring programme whilst also exploring opportunities to support organisational capacity in other ways such as pro-bono support drawing upon our extensive networks and expertise of our contacts. 

Our Strengthening Communities Research, initiated in 2022 and carried out in 2023, is due to be publicly launched at a community event in early 2024.  Some highlights that will feed into our future strategic priorities include: 

## Funding 

Specific themes and needs identified by our research are: 

- Accessible and proportionate processes 

- Unrestricted funding for essential resources 

- Funding to support staff recruitment, development and training 

- Support for the most vulnerable people in our communities 

Community services and groups need adequate funding. Many run on a shoe-string and are seeing funding cuts. GCF is committed to supporting these needs through our grant making and advocating for more flexible funding from fundholders and donors. 

## Non-Financial Support 

In addition to funding, our research has identified various non-financial needs: 

- Volunteering and staff support 

- Networking and collaboration opportunities 

- Building skills in the sector 

- Working in a way that removes stigma and judgement 

GCF is committed to expanding our INVEST programme as well as our events to continue bringing people together in purposeful spaces to enable networking, collaboration, as well as the sharing of ideas. 

## Local Support for Local People 

Local needs identified by our research are: 

- Accessible local services 

- Transport provision 

- Community spaces and places for meeting 

Gloucestershire is a rural county where people face difficulties accessing services. GCF is committed to supporting accessible community services through our funding as well as championing locally accessible services within our networks. 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **FINANCIAL REVIEW AND GOVERNANCE** 

## **Investments** 

The investments held by GCF are all within the endowment fund. During the year trustees continued to operate a “total return policy” (capital growth and yield). The Board followed the same path as previous years and the Board approved 4% to be transferred from the endowment fund for grant making for both GCF and The Hitchins Family Trust. 

In 2023 the board made the decision to move all existing Rathbones investments in the endowment to Sarasin Investment Management and CCLA. CCLA have realised a very good return in recent years, with a very ethical investment stance, so it was sensible to bring the proportion of the total endowment fund that is managed by CCLA up to 50%. GCF expects better future investment return performance, and Sarasin also applies strong sustainability, societal impact and governance arrangement filters. 

## **Results** 

The total net assets of the charity amounted to £7.39m (2022 £7.25m) as at 31[st] December 2023 with £6.9m relating to the endowment funds (2022 £6.7m) and the balance of £482k (2022 £569k) related to revenue funds. In relation to the latter, £382k (2022 £470k) is restricted and can only be used for purposes specified by the donors, with the balance of £99k (2022 £98k) relating to unrestricted funds. 

## **Reserves** 

The Trustees’ Reserves Policy is to retain a balance of unrestricted funds to cover a minimum of 3 to 6 months of operational and business costs. At the end of the year the unrestricted administration funds held to cover essential resource costs were £99k (2022 £98K) amounting to 6 months of essential resource costs. GCF returned an overall surplus on its running costs of £883 (2022 £25.6k deficit) in the year. 

The Trustees remain confident that GCF’s assets are adequate to fulfil its obligations on a fund by fund basis. 

## **Structure, Governance and Management** 

GCF is a private company limited by guarantee (Company number 02420411) and a registered charity governed by its Memorandum and Articles of Association (Charity number 900239) which were adopted on 6 September 1989 as Charities of Gloucestershire Community Foundation and amended on 13 February 1992 to County of Gloucestershire Community Foundation. 

The Directors of GCF are its Trustees for the purposes of charity law and throughout this report are referred to as the trustees. The report incorporates the directors’ report as required by company law. The trustees are responsible for the overall governance of the charity. The Trustees have prepared these financial statements in accordance with The Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounting in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) (effective 1 January 2019), the Financial Reporting Standing applicable in the UK (FRS 102) and the Charities Act 2011. 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **Trustee meetings and decisions** 

The Board meets four times a year, as well as coming together on an “away day” to which all board members are asked to come. Various Committees are also established to consider specific areas of governance or process. After a board meeting Task and Finish groups may be set up to consider a specific area of business on which they then report to the Board their recommendations. 

The CEO attends the Board meetings and may be invited to sit on the various Committees. As this new role develops it is intended that more detailed terms of reference will be created which will define her relationship with the Board. 

The Trustee Board ratifies the decisions of all Committees and is provided with a list of all grants made by the grant panels. 

GCF continues to operate within the Quality Assurance process it passed in 2021; this process takes place ever three years and is a requirement of the UK Foundations network. 

## **Public Benefit** 

All our activities are undertaken to further our charitable purpose for the benefit of the public. The trustees operate within the guidelines issued by the Charity Commission when considering GCF’s aims and objectives and in planning future activities. The trustees confirm that they have complied with their duty in Section 17 of the Charities Act 2011. 

GCF meets its obligation in the delivery of public benefit through the receipt of funding to allow for grants to be awarded to organisations within the County of Gloucestershire that cover our objectives. 

Our website is the prime vehicle used for communication and we are looking at ways of improving the functionality to ensure charities and donors can easily access information on our activities. We are also looking to boost our social media profile when we have sufficient resources to manage the content. 

## **Risk Management** 

The trustees review the major risks to which GCF is exposed, and ensure systems are in place to manage risks in all areas of activity. At the GCF board (16 March 2023) the risk registers were annually reviewed and updated. 

The revised risk register incorporates the strategic objectives and business plan of GCF alongside the key categories of: 

- Finance & Investment 

- Governance, HR and Operations 

- IT 

- Philanthropy & Marketing 

- Grant programmes 

Risk scoring for the revised risk register as been simplified now a low risk will score 1, a medium risk will score 2 and a high risk will score 3. The overall risk score comes from multiplying the likelihood score x the severity score. This is what the scoring will look like on the risk grid: 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **Appointment of Trustees** 

Current policy for the length of service of trustees is four years with an extension of a further four years if re-elected at the AGM. Trustees are appointed for an agreed length of time, subject to any applicable constitutional or statutory provisions relating to election or reelection. 

If a trustee has served for more than nine years, their re-appointment is: 

- Subject to a particularly rigorous review and takes into account the need for progressive refreshing and diversity of the board. 

- Explained in the Trustees’ Annual Report. 

Five new trustees were appointed in 2023. A review of the Board’s skill sets was conducted, and applicants sought to fill gaps that were identified. The High Sheriff of Gloucestershire is a trustee during his/her tenure as High Sheriff, but this will cease after 2023. 

## **Diversity and Community relationships** 

GCF expects its management and governance to benefit from a wide range of opinions, experience and beliefs. Thus, GCF ensures that: 

- Recruitment of members to the Board of Trustees, committees and grant panels is done based on the skills required, irrespective of gender, marital status, sexual orientation, race, ethnic origin, nationality, colour, disability, age, gender reassignment, or religion or belief 

- Diversity is taken into consideration when recruiting members to the Board of Trustees, committees and funding panels. 

The Trustee Board understands the need to incorporate a range of views into its decisionmaking, paying particular attention to the needs of minority communities and local inequalities. 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES** 

The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing these financial statements the trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Make judgements and estimates that are reasonable and prudent; 

- State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The trustees confirm that to the best of their knowledge there is no information relevant to the audit of which the auditors are unaware. The trustees also confirm that they have taken all necessary steps to ensure that they themselves are aware of all relevant audit information and that this information has been communicated to the auditors. 

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. 

## **Auditors** 

Randall and Payne LLP were re-appointed as auditors to the charitable company during the year and have expressed their willingness to continue in that capacity. 

Approved by the trustees on 11 September 2024 and signed on their behalf by: 

Henry Robinson (Sep 26, 2024 08:10 GMT+1) 

**Henry Robinson** Chair of Trustees Gloucestershire Community Foundation Date: 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COUNTY OF GLOUCESTERSHIRE COMMUNITY FOUNDATION** 

## **Opinion** 

We have audited the financial statements of County of Gloucestershire Community Foundation (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK’ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 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 Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence 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 concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the 

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County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COUNTY OF GLOUCESTERSHIRE COMMUNITY FOUNDATION** 

(CONTINUED) 

other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports). Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) 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 determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditors' responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

18 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COUNTY OF GLOUCESTERSHIRE COMMUNITY FOUNDATION** 

(CONTINUED) 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

As part of the audit in accordance with ISAs(UK), we have exercised professional judgment and maintained professional scepticism throughout the audit 

Irregularities, including fraud, are instances of non-compliance with 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: 

Our audit planning process gave consideration to the risk of material misstatement in the financial statements, using the calculated materiality level which itself factored in the nature of the Company's operations and the interpreted levels of inherent and control risk. 

In assessing the risk of fraud we reviewed management's own assessment of potential for fraud within the entity and reviewed judgements made by management to identify possible bias, in addition to any opportunity and incentive for fraud that are in inherent in the nature of the Company's operations. Our detailed testing included review of accounting estimates and judgements and validation of prime ledger entries. 

We confirmed our knowledge of the legal and regulatory environment of the entity through discussions with management. We analysed all information available to us in respect of relevant laws and regulations, including the Companies Act 2006 and The Charities SORP and enquired with management as to any possible breached in the aforementioned. 

We agreed the accuracy of the financial statements to the supporting management information provided by the client and tested individually on a sample basis the income and expenditure in the financial statements to consider the business rationale behind the transactions and the accuracy of the financial records. 

Our audit testing did not identify any issues in respect of the matters listed above. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. 

## **Use of our report** 

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are 

19 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COUNTY OF GLOUCESTERSHIRE COMMUNITY FOUNDATION** 

(CONTINUED) 

required to state to them in an Auditors' 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 members, as a body, for our audit work, for this report, or for the opinions we have formed. 

## Ryan Moore 

Ryan Moore (Sep 25, 2024 21:43 GMT+1) 

## **Ryan Moore CA** 

For and on behalf of Randall & Payne LLP Statutory Auditors Shurdington Road Cheltenham Gloucestershire GL51 4GA 

Date: 25/09/2024 

Randall & Payne LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006 

20 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

**Statement of financial activities** _(incorporating an income and expenditure account)_ 

## **For the year ended 31 December 2023** 

|Endowment<br>Note<br>£<br>**Income and endowments from:**<br>Donations and legacies<br>3<br>12,598<br>Investments<br>4<br>-<br>**Total income and endowments**<br>12,598<br>**Expenditure on:**<br>_Raising funds_<br>Fundraising<br>-<br>Donor development<br>-<br>Investment management fees<br>25,425<br>_Charitable activities_<br>Grants payable<br>-<br>Donor services<br>-<br>**Total expenditure**<br>6<br>25,425<br>(12,827)<br>Net gains / (losses) on investments<br>367,094<br>**Net income / (expenditure)**<br>354,267<br>Transfers between funds<br>(120,875)<br>**Net movement in funds**<br>7<br>233,392<br>**Reconciliation of funds:**<br>Total funds brought forward<br>6,681,885<br>**Total funds carried forward**<br>6,915,277<br>**Net income / (expenditure) before**<br>**gains / losses**|Restricted<br>£<br>239,470<br>89,516<br>328,986<br>13,808<br>-<br>-<br>492,693<br>-<br>506,502<br>(177,515)<br>-<br>(177,515)<br>89,875<br>(87,640)<br>470,305<br>382,665|Unrestricted<br>£<br>145,772<br>1,278<br>147,050<br>48,002<br>28,214<br>-<br>35,447<br>65,504<br>177,167<br>(30,117)<br>-<br>(30,117)<br>31,000<br>883<br>98,777<br>99,660|**2023**<br>**Total**<br>**£**<br>**397,840**<br>**90,794**<br>**488,634**<br>**61,811**<br>**28,214**<br>**25,425**<br>**528,140**<br>**65,504**<br>**709,094**<br>**(220,460)**<br>**367,094**<br>**146,634**<br>**-**<br>**146,634**<br>**7,250,968**<br>**7,397,603**|2022<br>Total<br>£<br>503,339<br>64,823|
|---|---|---|---|---|
|||||568,162|
|||||62,917<br>26,904<br>35,022<br>544,508<br>65,043|
|||||734,394|
|||||(166,232)<br>(765,625)|
|||||(931,857)<br>-|
|||||(931,857)<br>8,182,825|
|||||7,250,968|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 16 and 17 to the accounts. 

21 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Balance sheet** 

## **As at 31 December 2023** 

|Note<br>**Fixed assets**<br>Tangible & Itangible fixed assets<br>10<br>Investments<br>11<br>**Current assets**<br>Debtors<br>12<br>Cash at bank and in hand<br>**Liabilities**<br>Creditors: amounts falling due within one year<br>13<br>**Net current assets**<br>**Net assets**<br>15<br>**Funds**<br>Endowment funds<br>16<br>Restricted funds<br>17<br>Unrestricted funds<br>17<br>**Total charity funds**|**£**<br>**65,781**<br>**502,093**<br>**567,874**<br>**(139,983)**|**2023**<br>**£**<br>**8,639**<br>**6,961,073**<br>**6,969,712**<br>**427,891**<br>**7,397,603**<br>**6,915,277**<br>**382,665**<br>**99,660**<br>**7,397,603**|2022<br>£<br>4,000<br>6,773,894|
|---|---|---|---|
||||6,777,894<br>70,113<br>621,448|
||||691,561<br>(218,487)|
||||473,074|
||||7,250,968|
||||6,681,885<br>470,305<br>98,777|
||||7,250,968|



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime. 

Approved by the trustees on 11 September 2024 and signed on their behalf by 

Richard Ingle Henry Robinson (Sep 26, 2024 08:10 GMT+1) Richard Ingle (Sep 25, 2024 16:20 GMT+1) Mr H Robinson Mr R Ingle Chair of Trustees Trustee 

22 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Statement of cash flows** 

## **For the year ended 31 December 2023** 

|**Cash used in operating activities:**<br>**Net movement in funds**<br>Adjustments for:<br>(Gains) / losses on investments<br>Dividends and interest from investments<br>Decrease / (increase) in debtors<br>Increase / (decrease) in creditors<br>**Net cash provided by / (used in) operating activities**<br>**Cash flows from investing activities:**<br>Dividends and interest from investments<br>Proceeds from the sale of investments<br>Purchase of investments<br>**Net cash provided by / (used in) investing activities**<br>**Increase / (decrease) in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**<br>**Analysis of cash and cash equivalents**<br>Cash at bank<br>Cash in investments|**2023**<br>**£**<br>**146,634**<br>**(367,094)**<br>**(90,794)**<br>**4,332**<br>**(78,504)**<br>**(385,426)**<br>**90,794**<br>**5,799,907**<br>**(5,838,475)**<br>**52,226**<br>**(333,200)**<br>**886,797**<br>**553,597**<br>**2023**<br>**£**<br>**502,093**<br>**51,504**<br>**553,597**|2022<br>£<br>(931,857)<br>766,552<br>(64,823)<br>(2,534)<br>(26,522)|
|---|---|---|
|||(259,184)|
|||64,823<br>909,038<br>(295,294)|
|||678,567|
|||419,383<br>467,414|
|||886,797|
|||2022<br>£<br>621,448<br>265,350|
|||886,797|



23 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **General Information** 

The County of Gloucestershire Community Foundation is a registered charitable company constituted under a Memorandum of Articles of Association dated 6 September 1989.  The address of the registered office is given in the charity information on page 1 of these financial statements. 

## **1. Accounting policies** 

## **a) Basis of preparation** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

County of Gloucestershire Community Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## **b) Company status** 

The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 3. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. 

## **c) Funds accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

Endowment funds are funds which are held on trust to be retained for the benefit of GCF as a capital fund. Where the Trustees must permanently maintain the whole of the fund it is referred to as permanent endowment and such a fund cannot normally be spent as if it were income. Where the Trustees have a power of discretion to convert endowed capital into income, it is referred to as expendable endowment. 

With the exception of the Community First endowment funds, the Charity’s endowment funds are invested in bespoke portfolio managed by the fund manager Rathbones. In relation to these funds, the Trustees operate a “total return” policy (capital growth and yield) and approve 4% to be transferred from the endowment fund to the grant making funds. Where the income yields fell short of 4%, a top-up was made by reducing the capital gains or increasing the capital losses (as appropriate) of the share portfolio. 

The Community First endowment funds are held in a unitised investment fund managed by CCLA. The remit of this fund is to achieve an income return of approximately 4%, whilst still maintaining the capital value of the fund. This fund does not operate on a total return basis and, as such, there is no adjustment between the capital gains, or losses, of the investment fund and investment income. 

Investment income, gains and losses are allocated to the appropriate fund. 

24 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **d) Income** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably. 

Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party. A corresponding amount is then recognised in expenditure in the period of receipt. 

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

## **e) Expenditure** 

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. 

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. 

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure. 

All resources expended are inclusive of irrecoverable VAT. 

## **f) Allocation of support and governance costs** 

Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. The basis of allocation of support and governance costs is shown in Note 6. 

25 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **g) Going concern basis of accounting** 

The Charity produces annual budgets and forecasts which take into account expected changes in the funding streams and which demonstrate that the charity will be able to continue to operate. As described in the Trustees' Report, the charity does not embark on major initiatives without committed funding. The core funding is closely reviewed and the F&I Committee looks at the Foundation's development and this in turn brings a contribution to core funding. Therefore the Trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. On this basis, the Trustees consider it appropriate to prepare the financial statements on the going concern basis. 

## **h) Tangible fixed assets** 

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: 

IT Software: Depreciated over 3 years Freehold land: No depreciation is provided on freehold land. 

## **i) Investments** 

Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year. 

## **j) Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **k) Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **l) Creditors** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **m) Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **n) Going Concern** 

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainies exist.  The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months for authorising these financial statements and have concluded that the budgeted income and expenditure is sufficient, in conjunction with the reserves of the Foundation to be able to continue as a going concern. 

26 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **2. Prior period comparatives: statement of financial activities** 

|**Income from:**<br>Donations and legacies<br>Investments<br>**Total income**<br>**Expenditure on:**<br>_Raising funds_<br>Fundraising<br>Donor development<br>Investment management fees<br>_Charitable activities_<br>Grants payable<br>Donor services<br>**Total expenditure**<br>Net gains / (losses) on investments<br>**Net income / (expenditure)**<br>Transfers between funds<br>**Net movement in funds**<br>**Net income / (expenditure) before**<br>**gains and losses**|Endowment<br>£<br>9,000<br>-<br>9,000<br>-<br>-<br>35,023<br>-<br>-<br>35,023<br>(26,024)<br>(765,625)<br>(791,649)<br>(293,483)<br>(1,085,132)|Restricted<br>£<br>£<br>352,458<br>141,881<br>64,439<br>384<br>416,897<br>142,265<br>30,568<br>32,349<br>-<br>26,904<br>-<br>-<br>500,847<br>43,660<br>-<br>65,043<br>531,415<br>167,956<br>(114,518)<br>(25,691)<br>-<br>-<br>(114,518)<br>(25,691)<br>293,483<br>-<br>178,965<br>(25,691)<br>Unrestricted|**2022**<br>**Total**<br>**£**<br>**503,339**<br>**64,823**|
|---|---|---|---|
||||**568,162**|
||||**62,917**<br>**26,904**<br>**35,023**<br>**-**<br>**544,507**<br>**65,043**|
||||**734,394**|
||||**(166,232)**<br>**(765,625)**|
||||**(931,857)**<br>**-**|
||||**(931,857)**|



## **3. Donations and legacies** 

|**Donations and legacies**||||
|---|---|---|---|
|Donations received<br>Administration fees<br>Total donations and legacies<br>**Prior period comparative:**<br>Donations received<br>Administration fees<br>Total donations and legacies|Endowment<br>£<br>12,750<br>-<br>12,750<br>Endowment<br>£<br>9,000<br>-<br>9,000|Restricted<br>£<br>£<br>239,318<br>18,743<br>-<br>127,029<br>239,318<br>145,772<br>Restricted<br>£<br>£<br>352,458<br>6,250<br>-<br>135,631<br>352,458<br>141,881<br>Unrestricted<br>Unrestricted|**2023**<br>**Total**<br>**£**<br>**270,811**<br>**127,029**|
||||**397,840**|
||||2022<br>Total<br>£<br>367,708<br>135,631|
||||503,339|



27 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **4. Investment income** 

|Less income shortfall<br>Interest receivable<br>Total investment income<br>**Prior period comparative:**<br>Less income shortfall<br>Interest receivable<br>Total investment income<br>**5.**<br>**Grants payable**<br>Grants payable (*)<br>Grant funds repaid<br>4% investment income<br>allocated to funds<br>4% investment income<br>allocated to funds|Endowment<br>£<br>-<br>-<br>-<br>-<br>-<br>Endowment<br>£<br>-<br>-<br>-<br>-<br>-<br>**Number**<br>176<br>**(2)**<br>**174**|Restricted<br>£<br>£<br>160,392<br>-<br>(70,876)<br>-<br>89,516<br>-<br>-<br>1,278<br>89,516<br>1,278<br>Restricted<br>£<br>£<br>164,142<br>-<br>(99,703)<br>-<br>64,439<br>-<br>-<br>384<br>64,439<br>384<br>**2023**<br>**Total**<br>**£**<br>Number<br>**497,046**<br>165<br>**(4,353)**<br>(1)<br>**492,693**<br>164<br>Unrestricted<br>Unrestricted|**2023**<br>**Total**<br>**£**<br>**160,392**<br>**(70,876)**|
|---|---|---|---|
||||**89,516**<br>**1,278**|
||||**90,794**|
||||2022<br>Total<br>£<br>164,142<br>(99,703)|
||||64,439<br>384|
||||64,823|
||||2022<br>Total<br>£<br>504,347<br>(3,500)|
||||500,847|



(*) Excluding allocation of support costs, see note 6. 

28 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **6. Total expenditure** 

## **Costs by charitable activity** 

|**Costs by charitable activity**|||||
|---|---|---|---|---|
|Fundraising<br>Donor development<br>Donor services<br>Investment management fees<br>Grants payable<br>**Total resources expended**|£<br>39,041<br>13,548<br>29,343<br>25,425<br>14,707<br>122,064<br>Activities<br>undertaken<br>directly|Grant<br>funding of<br>activities<br>£<br>-<br>-<br>-<br>-<br>492,693<br>492,693|Support<br>costs<br>£<br>22,770<br>14,666<br>36,161<br>-<br>20,740<br>94,337|**2023**<br>**Total**<br>**£**<br>**61,811**<br>**28,214**<br>**65,504**<br>**25,425**<br>**528,140**|
|||||**709,094**|



## **Allocation of support costs by activity** 

|Fundraising<br>Donor development<br>Donor services<br>Grants payable<br>**Total**|Staff costs<br>£<br>£<br>17,501<br>843<br>9,397<br>843<br>20,352<br>2,529<br>10,201<br>1,686<br>57,451<br>5,901<br>Governance<br>costs|Office<br>costs<br>£<br>2,256<br>2,256<br>6,768<br>4,511<br>15,791|Other<br>costs<br>£<br>2,171<br>2,171<br>6,512<br>4,340<br>15,194|**Total**<br>**£**<br>**22,771**<br>**14,667**<br>**36,161**<br>**20,738**|
|---|---|---|---|---|
|||||**94,337**|



## **Basis of cost allocations** 

|||Governance|Office|Other|
|---|---|---|---|---|
||Staff costs|costs|costs|costs|
||%|%|%|%|
|Fundraising|30.5|14.3|14.3|14.3|
|Donor development|16.4|14.3|14.3|14.3|
|Donor services|35.4|42.9|42.9|42.9|
|Grants payable|17.8|28.6|28.6|28.6|
||100|100|100|100|



Staff costs are allocated to activities according to an analysis of staff timesheets. All other costs are allocated to activities following an agreed overhead split. 

29 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **6. Total expenditure (continued)** 

## **Prior period comparatives** 

## **Costs by charitable activity** 

|Fundraising<br>Donor development<br>Donor services<br>Investment management fees<br>Grants payable<br>**Total resources expended**|£<br>44,904<br>11,515<br>26,426<br>35,022<br>17,772<br>135,639<br>Activities<br>undertaken<br>directly|Grant<br>funding of<br>activities<br>£<br>-<br>-<br>-<br>-<br>500,847<br>500,847|Support<br>costs<br>£<br>18,013<br>15,389<br>38,617<br>-<br>25,889<br>97,908|**2022**<br>**Total**<br>**£**<br>**62,917**<br>**26,904**<br>**65,043**<br>**35,022**<br>**544,508**|
|---|---|---|---|---|
|||||**734,394**|



## **Allocation of support costs by activity** 

|Fundraising<br>Donor development<br>Donor services<br>Grants payable<br>**Total**<br>**Basis of cost allocations**<br>Fundraising<br>Donor development<br>Donor services<br>Grants payable|Staff costs<br>Office<br>costs<br>£<br>£<br>£<br>13,332<br>836<br>1,586<br>10,708<br>836<br>1,586<br>24,574<br>2,508<br>4,758<br>16,527<br>1,672<br>3,172<br>65,141<br>5,852<br>11,102<br>Staff costs<br>%<br>%<br>20.4<br>14.3<br>15.4<br>14.3<br>41.7<br>42.8<br>22.5<br>28.6<br>100<br>100<br>Governance<br>costs<br>Governance<br>costs|Other<br>costs<br>£<br>2,259<br>2,259<br>6,777<br>4,518<br>15,813<br>Office<br>costs<br>%<br>14.3<br>14.3<br>42.8<br>28.6<br>100|**Total**<br>**£**<br>**18,013**<br>**15,389**<br>**38,617**<br>**25,889**|
|---|---|---|---|
||||**97,908**|
||||Other<br>costs<br>%<br>14.3<br>14.3<br>42.8<br>28.6|
||||100|



Staff costs are allocated to activities according to an analysis of staff timesheets. All other costs are allocated to activities following an agreed overhead split. 

30 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

**7. Net movement in funds** 

This is stated after charging: 

|Auditors' remuneration:<br> Statutory audit (including VAT)<br>Trustees' remuneration<br>Trustees' reimbursed expenses|**2023**<br>**£**<br>**Nil**<br>**-**<br>**5,700**|2022<br>£<br>Nil<br>-<br>5,600|
|---|---|---|



Trustees reimbursed expenses related to travel expenses for two trustees totalling £275 (2022: £0) 

## **8. Staff costs and numbers** 

Staff costs were as follows: 

|Salaries and wages<br>Social security costs<br>Consultants and secondees|**2023**<br>**£**<br>**109,007**<br>**5,416**<br>**21,671**<br>**136,094**|2022<br>£<br>108,817<br>5,648<br>20,724|
|---|---|---|
|||135,189|



The total amount of employee benefits (including employer pension contributions and employer national insurance contributions, received by key management personnel for their services to the charity was £114,423 (2022: £114,465) 

No employee earned more than £60,000 during the year (2022: nil). 

|Average head count|**2023**<br>**No.**<br>**3**|2022<br>No.<br>3|
|---|---|---|



## **9. Taxation** 

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

31 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **10. Tangible fixed assets** 

|**Tangible fixed assets**||
|---|---|
||**Freehold land**|
||**£**|
|**Cost**||
|As at 01 January 2023|4,000|
|**Depreciation**||
|As at 01 January 2023|-|
|Charge for year|-|
|As at 31 December 2023|-|
|**Net book value**||
|At 31 December 2023|**4,000**|
|At 31 December 2022|4,000|
|**Intangible fixed assets**||
||**£**|
|**Cost**||
|As at 01 January 2023|-|
|Additions|5,787|
|As at 31 December 2023|5,787|
|**Accumulated Amortisation**||
|As at 01 January 2023|-|
|Charge for year|(1,148)|
|As at 31 December 2023|(1,148)|
|**Net book value**||
|At 31 December 2023|**4,639**|
|At 31 December 2022|-|



32 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **11. Investments** 

|Market value at 1 January 2023<br>Acquisitions at cost<br>Disposals proceeds<br>Net gain in the year<br>Portfolio fees<br>Cash movement<br>**Market value at 31 December 2023**<br>**Represented by:**<br>Listed investments<br>Cash and cash equivalents<br>**Analysis by geographical sector:**<br>Investment assets in the UK<br>Investment assets outside the UK<br>**12.**<br>**Debtors**<br>Prepayments & accrued income<br>Other debtors|**2023**<br>**£**<br>**6,773,894**<br>**5,838,475**<br>**(5,799,907)**<br>**383,077**<br>**(25,425)**<br>**(209,041)**<br>**6,961,073**<br>**6,909,569**<br>**51,504**<br>**6,961,073**<br>**2,802,038**<br>**4,159,035**<br>**6,961,073**<br>**2023**<br>**£**<br>**25,781**<br>**40,000**<br>**65,781**|2022<br>£<br>7,981,304<br>295,294<br>(909,038)<br>(765,627)<br>(35,022)<br>206,983|
|---|---|---|
|||6,773,894|
|||6,508,544<br>265,350|
|||6,773,894|
|||3,522,778<br>3,251,116|
|||6,773,894|
|||2022<br>£<br>30,113<br>40,000|
|||70,113|



33 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **13. Creditors : amounts due within 1 year** 

|Trade creditors<br>Accruals<br>Deferred Income<br>Grants payable<br>**14.**<br>**Financial instruments**<br>Financial assets measured at fair value through income and expenditure<br>Financial assets measured at amortised cost<br>Financial liabilities measured at amortised cost<br>**15.**<br>£<br>£<br>-<br>4,000<br>6,913,402<br>47,671<br>1,875<br>57,133<br>-<br>392,011<br>-<br>(118,149)<br>**6,915,277**<br>**382,665**<br>£<br>£<br>-<br>4,000<br>1,875<br>65,705<br>-<br>506,922<br>-<br>(200,205)<br>Tangible & Intangible fixed assets<br>Investments<br>Debtors<br>Cash at bank and in hand<br>Creditors<br>**Net assets at 31 December 2023**<br>**Prior period comparative:**<br>Tangible fixed assets & Investments<br>Debtors<br>Cash at bank and in hand<br>Creditors<br>**Net assets at 31 December 2022**<br>**6,681,883**<br>**470,308**<br>Endowment<br>funds<br>Restricted<br>funds<br>**Analysis of net assets between funds**<br>Restricted<br>funds<br>Endowment<br>funds<br>6,680,008|**2023**<br>**£**<br>**5,913**<br>**15,921**<br>**-**<br>**118,149**<br>**139,983**<br>**2023**<br>**£**<br>6,909,569<br>617,130<br>137,408<br>£<br>4,639<br>-<br>6,773<br>110,082<br>(21,834)<br>**99,660**<br>£<br>2,533<br>114,526<br>(18,282)<br>**98,777**<br>Unrestricted<br>funds<br>Unrestricted<br>funds|2022<br>£<br>3,798<br>**14,484**<br>-<br>**200,205**<br>218,487<br>2022<br>£<br>6,508,544<br>954,663<br>215,912<br>**Total**<br>**funds**<br>**£**<br>**8,639**<br>**6,961,073**<br>**65,781**<br>**502,093**<br>**(139,983)**<br>**7,397,603**<br>**Total**<br>**funds**<br>**£**<br>**6,684,008**<br>**70,113**<br>**621,448**<br>**(218,487)**<br>**7,250,968**|
|---|---|---|



34 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

|**For the year ended 31 December 2023**|||||||
|---|---|---|---|---|---|---|
|**16.**<br>**Endowment funds**<br>**Discretionary endowment funds**<br>Cammjelt<br>Chargrove<br>Charles Green<br>Chris Tallis<br>Diamond Jubilee<br>Eddie Wilson<br>Ian Cadbury<br>Joanna Trollope<br>Ozleworth<br>Patrick Wood<br>Simon Preston<br>**Restricted endowment funds**<br>Barton & Tredworth Endowment Fund<br>Cadbury Family Community First<br>Cheltenham College<br>Ecclesiastical Community First<br>Edith Foster May Playne<br>The Hayward Waite Charitable Trust<br>The Hitchin’s Family Trust<br>GCMA Grassroots<br>John Terrett<br>Mid-counties Community First<br>Rigby Family Community First<br>Sharp Family Charitable Fund<br>Sheriff of Gloucestershire Grassroots<br>Sheriff of Gloucestershire, incl Avon<br>Tony Neather<br>Parker Legacy Fund<br>WFT Community First<br>W Vesty Commuinity First Fund<br>W Vesty Grassroots<br>**Total endowment funds**<br>Sheriff of Gloucestershire Community<br>First<br>Gloucestershire Community Foundation<br>Discretionary<br>Gloucestershire Community Foundation<br>Community First<br>Cheltenham College Community First<br>The Honourable Company of<br>Gloucestershire Grassroots<br>The Honourable Company of<br>Gloucestershire Community First<br>Andrew Hilton Memorial Community<br>First|At 1<br>January<br>2023<br>£<br>1,178,669<br>31,537<br>28,421<br>40,711<br>24,792<br>307<br>3,156<br>118,719<br>97,994<br>391,676<br>7,388<br>27,903<br>24,130<br>43,543<br>82,042<br>16,858<br>18,998<br>8,967<br>91,691<br>98,502<br>115,550<br>1,606,782<br>4,066<br>63,608<br>894,703<br>53,719<br>249,379<br>118,764<br>39,803<br>283,244<br>70,075<br>17,714<br>100,407<br>210,933<br>434,053<br>16,358<br>66,723<br>6,681,885|Net<br>Income<br>received<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>12,600<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>12,600|Gains /<br>losses on<br>investments<br>£<br>45,015<br>1,205<br>1,086<br>1,555<br>947<br>12<br>121<br>4,531<br>3,743<br>14,960<br>282<br>1,066<br>2,370<br>1,329<br>3,134<br>1,656<br>726<br>880<br>9,006<br>3,762<br>4,404<br>99,323<br>399<br>2,429<br>34,173<br>2,052<br>24,494<br>11,665<br>919<br>27,820<br>2,676<br>677<br>3,835<br>8,060<br>42,633<br>1,607<br>2,542<br>367,094|£<br>(5,564)<br>(149)<br>(134)<br>(192)<br>(117)<br>(1)<br>(15)<br>(560)<br>(463)<br>(1,849)<br>(35)<br>(132)<br>-<br>-<br>(387)<br>-<br>(90)<br>-<br>-<br>(465)<br>(544)<br>(7,637)<br>-<br>(300)<br>(4,224)<br>(254)<br>-<br>-<br>(114)<br>-<br>(331)<br>(84)<br>(474)<br>(996)<br>-<br>-<br>(314)<br>(25,425)<br>Total<br>Expenditure|£<br>(15,035)<br>(402)<br>(362)<br>(519)<br>(316)<br>(4)<br>(40)<br>(1,517)<br>(1,250)<br>(4,995)<br>(94)<br>(356)<br>-<br>-<br>(1,046)<br>-<br>(242)<br>-<br>-<br>(1,256)<br>(1,481)<br>(72,145)<br>-<br>(811)<br>(11,411)<br>(685)<br>-<br>-<br>(963)<br>-<br>(894)<br>(226)<br>(1,281)<br>(2,688)<br>-<br>-<br>(856)<br>(120,875)<br>Transfers<br>between<br>funds|**£**<br>**1,203,085**<br>**32,191**<br>**29,011**<br>**41,555**<br>**25,306**<br>**313**<br>**3,222**<br>**121,173**<br>**100,024**<br>**399,792**<br>**7,541**<br>**28,481**<br>**26,500**<br>**44,872**<br>**83,743**<br>**18,514**<br>**19,392**<br>**9,847**<br>**100,697**<br>**100,543**<br>**117,929**<br>**1,626,322**<br>**4,465**<br>**64,926**<br>**913,241**<br>**54,832**<br>**273,873**<br>**130,429**<br>**52,245**<br>**311,064**<br>**71,526**<br>**18,081**<br>**102,487**<br>**215,309**<br>**476,686**<br>**17,965**<br>**68,095**<br>**At 31**<br>**December**<br>**2023**|
|||||||**6,915,277**|



35 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **16. Endowment funds (continued)** 

## **The Hitchins Family Trust Capital Fund** 

The Hitchins Family Trust Company placed endowment with the Foundation to be applied towards the objects of the Foundation, namely for the benefit of the community in Gloucestershire. An expendable endowment, in line with the investments policy fund, has been established and the agreed growth will be credited to the Hitchins Family Trust Income Fund for grant making purposes. 

## **Barton & Tredworth Endowment Fund** 

The Barton and Tredworth Endowment Fund has been set up to make grants supporting community activity exclusively in the Barton and Tredworth areas of Gloucestershire. 

## **Cadbury Funds** 

The Ian Cadbury Fund and the Cadbury Community First Funds are invested and the income to be spent to help overcome disadvantage in Gloucestershire. 

## **Cheltenham College Fund and Community First Fund** 

Cheltenham college Fund's has been set up to help alleviate hardship for youth in Gloucestershire. 

## **Hayward Waite Charitable Fund, The** 

Hayward Waite Charitable Fund has been set up to help young people with mental health problems, disadvantaged young people and to support transgender people and their families. 

## **Parker Legacy Fund** 

The Parker Legacy Fund was set up to provide specific financial assistance in the County of Gloucestershire to support children and young people with musical talent with bursaries including choirs and choral societies and to make grants for people of all ages with learning difficulties to introduce them to classical music as therapy. 

## **Other Endowment Funds** 

The Other Named Endowment Funds have been established by raising money from donations, the return from which is to provide a source of funding to the community. The Board approves the amount of funds to be allocated to grant making in line with the Foundation's Investment policy. 

## **GMCA - Grassroots Endowment Fund** 

GMCA is a fund set up by the Gloucestershire Freemasons with the aim that this Endowment Fund benefits local people and communities in Gloucestershire for many years to come. 

## **Other Grassroots Endowment Funds** 

The Other Grassroots Endowment Funds have been established, the return from which is to provide a source of funding to the community. The Board approves the amount of funds to be allocated to grant making in line with the Foundation's Investment policy. 

## **Community First Endowment Funds** 

In March 2012 the Community First Programme was set up. The aim of the programme was to encourage more social action in neighbourhoods with significant deprivation and low social capital. It aimed to enable communities to build more self-reliance and grow their capacity to make the changes they want to see in their area. For every £2 of eligible cash donations, the Government matched at least £1 up to the maximum annualised target for each Top Tier Local Authority Area. CCLA were appointed by the UKCF to manage the endowed funds under the Community First programme. The funds invested with CCLA (including the government match) are owned by the remitting Community Foundation. 

## **Transfers** 

Transfers between endowment funds and revenue funds in 2023 were made to provide endowment fund holders with income for grant making. The transfers took place to top up a shortfall in dividend income received from investments during the year.  There was also a transfer from Hitchins Charitable Trust Endowment frund in the amount of £50,000, split to support GCF core funding £25,000 and extra grant making in the Hitchins CT Revenue fund £25,000. 

36 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **16. Endowment funds (continued)** 

**Prior period comparatives:** 

|**Prior period comparatives:**|||||||
|---|---|---|---|---|---|---|
|**Discretionary endowment funds**<br>Cammjelt<br>Chargrove<br>Charles Green<br>Chris Tallis<br>Diamond Jubilee<br>Eddie Wilson<br>Ian Cadbury<br>Joanna Trollope<br>Ozleworth<br>Patrick Wood<br>Simon Preston<br>**Restricted endowment funds**<br>Barton & Tredworth Endowment Fund<br>Cadbury Family Community First<br>Cheltenham College<br>Ecclesiastical Community First<br>Edith Foster May Playne<br>The Hayward Waite Charitable Trust<br>The Hitchin’s Family Trust<br>GCMA Grassroots<br>John Terrett<br>Mid-counties Community First<br>Rigby Family Community First<br>Sharp Family Charitable Fund<br>Sheriff of Gloucestershire, Grassroots<br>Sheriff of Gloucestershire, incl Avon<br>Tony Neather<br>Parker Legacy Fund<br>WFT Community First<br>W Vesty Commuinity First Fund<br>W Vesty Grassroots<br>**Total endowment funds**<br>The Honourable Company of<br>Gloucestershire Grassroots<br>Sheriff of Gloucestershire Community<br>First<br>Andrew Hilton Memorial Community<br>First<br>Cheltenham College Community First<br>The Honourable Company of<br>Gloucestershire Community First<br>Gloucestershire Community Foundation<br>Discretionary<br>Gloucestershire Community Foundation<br>Community First|At 1<br>January<br>2022<br>£<br>1,332,358<br>35,649<br>32,127<br>46,018<br>28,026<br>347<br>3,568<br>134,192<br>110,773<br>442,750<br>8,352<br>31,542<br>35,957<br>57,783<br>92,741<br>26,823<br>21,476<br>13,738<br>137,222<br>111,347<br>130,595<br>1,807,061<br>4,643<br>71,901<br>1,011,372<br>60,724<br>284,755<br>182,020<br>34,195<br>431,577<br>79,213<br>20,023<br>113,500<br>238,446<br>495,626<br>23,169<br>75,408<br>7,767,017|Net<br>Income<br>received<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>9,000<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>9,000|Gains /<br>losses on<br>investments<br>£<br>(124,819)<br>(3,340)<br>(3,010)<br>(4,311)<br>(2,626)<br>(32)<br>(334)<br>(12,564)<br>(10,378)<br>(41,481)<br>(783)<br>(2,955)<br>(4,410)<br>(6,717)<br>(8,689)<br>(3,281)<br>(2,012)<br>(1,683)<br>(16,828)<br>(10,432)<br>(12,212)<br>(158,109)<br>(577)<br>(6,736)<br>(94,755)<br>(5,689)<br>(35,376)<br>(22,300)<br>(2,549)<br>(52,887)<br>(7,421)<br>(1,876)<br>(10,634)<br>(22,348)<br>(61,573)<br>(2,848)<br>(7,050)<br>(765,625)|£<br>(7,679)<br>(205)<br>(185)<br>(265)<br>(162)<br>(2)<br>(21)<br>(773)<br>(639)<br>(2,552)<br>(48)<br>(182)<br>-<br>-<br>(535)<br>-<br>(124)<br>-<br>-<br>(642)<br>(751)<br>(10,472)<br>-<br>(414)<br>(5,830)<br>(350)<br>-<br>-<br>(157)<br>-<br>(457)<br>(115)<br>(654)<br>(1,375)<br>-<br>-<br>(433)<br>(35,022)<br>Total<br>Expenditure|£<br>(21,191)<br>(567)<br>(511)<br>(731)<br>(446)<br>(5)<br>(57)<br>(2,136)<br>(1,762)<br>(7,041)<br>(133)<br>(502)<br>(7,417)<br>(7,523)<br>(1,475)<br>(6,684)<br>(342)<br>(3,088)<br>(28,703)<br>(1,771)<br>(2,082)<br>(31,697)<br>-<br>(1,143)<br>(16,084)<br>(966)<br>-<br>(40,956)<br>(686)<br>(95,446)<br>(1,260)<br>(318)<br>(1,805)<br>(3,790)<br>-<br>(3,963)<br>(1,202)<br>(293,483)<br>Transfers<br>between<br>funds|**£**<br>**1,178,669**<br>**31,537**<br>**28,421**<br>**40,711**<br>**24,792**<br>**307**<br>**3,156**<br>**118,719**<br>**97,994**<br>**391,676**<br>**7,388**<br>**27,903**<br>**24,130**<br>**43,543**<br>**82,042**<br>**16,858**<br>**18,998**<br>**8,967**<br>**91,691**<br>**98,502**<br>**115,550**<br>**1,606,782**<br>**4,066**<br>**63,608**<br>**894,703**<br>**53,719**<br>**249,379**<br>**118,764**<br>**39,803**<br>**283,244**<br>**70,075**<br>**17,714**<br>**100,407**<br>**210,933**<br>**434,053**<br>**16,358**<br>**66,723**<br>**At 31**<br>**December**<br>**2022**|
|||||||**6,681,885**|



37 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **17. Revenue funds** 

|**Restricted funds**<br>Andrew Hilton Memorial Fund Community First<br>Autumn 2012 Flood<br>Barton and Tredworth Endowment Fund<br>Barton and Tredworth Community Garden Fund<br>Cadbury Family Community First Fund<br>Cammjelt<br>Carers Gloucestershire Legacy Fund<br>Chargrove<br>Charles Green<br>Charles Russell Speechys Fndn Comm Fund - NEW<br>Cheltenham College Community First<br>Chris Tallis Grassroots<br>Clubs in Crisis Fund<br>Coronavirus Repsonse Fund<br>Cost of Living Crisis Appeal Fund<br>Ecclesiastical funds<br>Eddie Wilson Grassroots<br>Edith Foster Mary Playne<br>GAVCA Revenue Fund<br>GCMA Grassroots<br>Glos Community Fdn Discretionary<br>The Hayward Waite Charitable Fund<br>The Hitchin’s Family Trust<br>Ian Cadbury Fund<br>Joanna Trollope Fund<br>John Lewis Fund<br>John Terrett Fund<br>Little Orchard Charitable Trust Revenue Fund<br>Nicolas Jones Fund<br>Mentoring Fund (INVEST)<br>Mid-counties Community First<br>Oakley Neighbourhood Fund<br>Ozleworth<br>Patrick Wood Grassroots<br>Parker Fund<br>Poverty Hurts Campaign<br>Rigby Family Community First<br>Savills<br>Sharp Family Charitable Fund<br>Sheriff of Gloucestershire funds<br>Sheriff of Gloucestershire funds Getting Court<br>Simon Preston Fund<br>Sports Relief<br>Stuart Bird Fund<br>Surviving Winter<br>SWEF<br>Tony Neather Fund<br>W Vesty Grassroots & Community First<br>WFT Community First<br>Youth Social Action Fund (UKCF)<br>Gloucestershire Carers - Legacy provision<br>**Total restricted funds**<br>The Honourable Company of<br>Gloucestershire Community First Fund<br>The Honourable Company of<br>Gloucestershire|At 1<br>January<br>2023<br>£<br>7,341<br>125<br>5,403<br>4,000<br>61<br>30<br>31,271<br>53<br>18<br>-<br>3,144<br>63<br>1<br>4<br>39,857<br>32,918<br>19<br>14,528<br>58<br>994<br>64516<br>2<br>16,827<br>31<br>230<br>8,000<br>15,573<br>2,961<br>(1,000)<br>20,298<br>4,825<br>2,657<br>48<br>70<br>5,001<br>-<br>27,152<br>1<br>1,465<br>54,166<br>28,964<br>3<br>126<br>-<br>497<br>20,000<br>1,867<br>224<br>77<br>10,371<br>4,845<br>620<br>40,000<br>470,305|Net Income<br>£<br>981<br>-<br>1,092<br>-<br>256<br>420<br>-<br>378<br>542<br>18,000<br>390<br>330<br>-<br>-<br>43,181<br>1,397<br>42<br>1,310<br>-<br>11,900<br>22,074<br>5,818<br>41,427<br>1,576<br>1,303<br>-<br>715<br>9,000<br>3,000<br>-<br>3,799<br>-<br>5,210<br>99<br>2,808<br>56,681<br>1,809<br>-<br>74<br>28,516<br>20,000<br>371<br>-<br>25,500<br>-<br>-<br>846<br>62<br>1,335<br>10,132<br>6,611<br>-<br>-<br>328,985|Net<br>Expenditure<br>£<br>(7,605)<br>-<br>(7,750)<br>-<br>(150)<br>(800)<br>(21,418)<br>(750)<br>(1,000)<br>(18,000)<br>-<br>(500)<br>-<br>-<br>(83,037)<br>-<br>-<br>(5,000)<br>-<br>(22,403)<br>(68,819)<br>(3,000)<br>(92,270)<br>(3,100)<br>(2,500)<br>-<br>(10,000)<br>(2,000)<br>(12,000)<br>(1,850)<br>-<br>-<br>(200)<br>(5,000)<br>(29,732)<br>(20,500)<br>-<br>-<br>(45,117)<br>(6,210)<br>(500)<br>-<br>(10,500)<br>-<br>(12,090)<br>(3,518)<br>(182)<br>(2,000)<br>(1,500)<br>(5,500)<br>-<br>-<br>(506,501)|£<br>-<br>-<br>1,046<br>-<br>-<br>402<br>-<br>362<br>519<br>-<br>242<br>316<br>-<br>-<br>-<br>-<br>40<br>1,256<br>-<br>11,411<br>15,039<br>1,481<br>47,145<br>1,517<br>1,250<br>(8,000)<br>685<br>-<br>-<br>2,000<br>-<br>-<br>4,995<br>94<br>2,688<br>9,000<br>-<br>-<br>963<br>1,120<br>-<br>356<br>-<br>-<br>-<br>-<br>811<br>-<br>1,281<br>(8,144)<br>-<br>-<br>-<br>89,875<br>Transfers<br>between<br>funds|**£**<br>**717**<br>**125**<br>**(209)**<br>**4,000**<br>**167**<br>**52**<br>**9,853**<br>**43**<br>**79**<br>**-**<br>**3,776**<br>**209**<br>**1**<br>**4**<br>**1**<br>**34,315**<br>**101**<br>**12,094**<br>**58**<br>**1,902**<br>**32,810**<br>**4,301**<br>**13,129**<br>**24**<br>**283**<br>**-**<br>**16,973**<br>**1,961**<br>**-**<br>**10,298**<br>**6,774**<br>**2,657**<br>**10,253**<br>**63**<br>**5,497**<br>**35,949**<br>**8,461**<br>**1**<br>**2,502**<br>**38,685**<br>**42,754**<br>**230**<br>**126**<br>**15,000**<br>**497**<br>**7,910**<br>**6**<br>**104**<br>**693**<br>**10,859**<br>**5,956**<br>**620**<br>**40,000**<br>**At 31**<br>**December**<br>**2023**|
|---|---|---|---|---|---|
||||||**382,665**|



38 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

|**17.**<br>**Revenue funds (continued)**<br>Staffing and support<br>**Total revenue funds**<br>**Unrestricted funds**<br>**Total unrestricted funds**|At 1<br>January<br>2023<br>£<br>98,777<br>98,777<br>569,082|Net incoming<br>resources<br>£<br>147,050<br>147,050<br>476,035|Net<br>Expenditure<br>£<br>(177,167)<br>(177,167)<br>(683,668)|£<br>31,000<br>31,000<br>120,875<br>Transfers<br>between<br>funds|**£**<br>**99,660**<br>**At 31**<br>**December**<br>**2023**|
|---|---|---|---|---|---|
||||||**99,660**|
||||||**482,325**|



## **Purposes of restricted funds** 

## **The Hitchins Family Trust Income Fund** 

The Hitchins Family Trust Company placed certain sums with the Foundation to be applied towards the objects of the Foundation, namely for the benefit of the community in Gloucestershire. A special trust permanent endowment fund has been established (see note 15) and some of the yield arising from the endowment will be credited to this Income Fund for grant making purposes. 

## **John Terrett Fund** 

Educational Foundation of John Terrett Fund to be used for benefit of pupils and ex pupils of Tewkesbury School. 

## **GAVCA Fund** 

The GAVCA Fund was established to continue to support voluntary and community groups with capacity building, training and for new groups in need of governance or financial advice. 

## **John Lewis Fund** 

To support the VCSO's in Gloucestershire. 

## **Little Orchard Charitable Trust Revenue Fund** 

To support local voluntary and community groups and organisations that are in the field of mential health. 

## **Carers Gloucestershire Legacy** 

The Carers Gloucestershire Legacy Fund has been established to offer grants to local charitable organisations to provide support to adult unpaid carers. 

## **Tony Neather** 

Grants from the fund will be given to groups working with disadvantaged young people taking part in sport. 

## **The High Sheriff's Youth and Community Fund** 

The fund aims to encourage groups especially of young people up to the age of 21 to be involved in challenging activities which can be shown to serve a purpose in diverting them from anti-social behaviour and crime. 

## **WFT Community First Fund** 

This donor advised fund works with GCF main grants panel to help overcome disadvantage in Gloucestershire, the fund's aim is to encourage groups to develop their capacity for self sustenance via community fundraising activities and exchange learning and good practice. 

## **Surviving Winter Appeal** 

The fund provides grants to local groups and organisations working with elderly people. In addition, working in partnership with Age UK Gloucestershire and Gloucester & District CAB, the fund makes grants to individual elderly people who are vulnerable, on low incomes and affected by cold weather. 

## **The Freemasons Fund (GMCA)** 

The programme awards grant of between £250 and £2,000 to support older people, those with disabilities and young people facing disadvantage. 

## **Edith Foster and Mary Playne Trust Fund** 

GCF works in partnership with local colleges to make grants to individuals (mainly aged 16-19 years) who are studying at a further or higher education college in Gloucestershire and are in need, hardship or distress. 

39 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **17. Revenue funds (continued)** 

## **Purposes of restricted funds (continued)** 

## **Ecclesiastical Community First Fund** 

This is a donor-led named fund being offered through the Gloucestershire Community Foundation with effect from May 2012. The programme supports groups who provide Care, work with vulnerable children and adults and the preservation of Gloucestershire’s heritage. Grants of between £1,000 and £3,000 (in exceptional circumstances a grant of up to £5,000) will be considered. 

## **Midcounties Community First Fund** 

This donor-led fund offers grants in Gloucestershire to encourage community responsibility, develop community capacity and demonstrate cooperative values. 

## **The Honourable Company of Gloucestershire Fund & Community First Fund** 

The fund works with GCF main grants panel to deliver grantmaking to help overcome disadvantage and promote youth education in Gloucestershire. 

## **Andrew Hilton Memorial Community First Fund** 

This fund works with GCF main grants panel to support young carers, vulnerable children and adults in the Forest of Dean 

## **Rigby Family Community First Fund** 

This fund supports youth sport in the communities of Cirencester, Fairford, Tetbury and Dursley. 

## **Vesty Fund** 

Grants from this growing fund are to encourage the participation of sports for young people under the age of 16 in areas of social deprivation in the county. 

## **Royal London Fund** 

Royal London is a donor-led fund supporting a wide range of causes across Gloucestershire. 

## **Poverty Hurts Campaign** 

GCF launched a Poverty Hurts campaign in 2023, and funding came in from all sources to help charities, helping those most in need during these challenging times. 

## **Transfers** 

Transfers between endowment funds and revenue funds in 2023 were made to provide endowment fund holders with income for grant making. The transfers took place to top up a shortfall in dividend income received from investments during the year.  There was also a transfer from Hitchins Charitable Trust Endowment frund in the amount of £50,000, split to support GCF core funding £25,000 and extra grant making in the Hitchins CT Revenue fund £25,000. 

40 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **17. Revenue funds (continued)** 

## **Prior period comparatives:** 

|**Restricted funds**<br>Andrew Hilton Memorial Fund Community First<br>Arts Council England Jubilee Fund (UKCF) - NEW<br>Autumn 2012 Flood<br>Barton and Tredworth Endowment Fund<br>Barton and Tredworth Community Garden Fund<br>Cadbury Family Community First Fund<br>Cammjelt<br>Carers Gloucestershire Legacy Fund<br>Chargrove<br>Charles Green<br>Charles Russell Speechys Fndn Comm Fund<br>Cheltenham College Community First<br>Chris Tallis Grassroots<br>Clubs in Crisis Fund<br>Coronavirus Repsonse Fund<br>Cost of Living Crisis Appeal Fund<br>Ecclesiastical funds<br>Eddie Wilson Grassroots<br>Edith Foster Mary Playne<br>GAVCA Revenue Fund<br>GCMA Grassroots<br>Glos Community Fdn Discretionary<br>The Hayward Waite Charitable Fund<br>The Hitchin’s Family Trust<br>Ian Cadbury Fund<br>Joanna Trollope Fund<br>John Lewis Fund<br>John Terrett Fund<br>Little Orchard Charitable Trust Revenue Fund<br>Nicolas Jones Fund - NEW<br>Mentoring Fund (INVEST)<br>Mid-counties Community First<br>Oakley Neighbourhood Fund<br>Ozleworth<br>Patrick Wood Grassroots<br>Parker Fund<br>Rigby Family Community First<br>Savills<br>Sharp Family Charitable Fund<br>Sheriff of Gloucestershire funds<br>Sheriff of Gloucestershire funds Getting Court<br>Simon Preston Fund<br>Sports Relief<br>Surviving Winter<br>SWEF<br>Tony Neather Fund<br>W Vesty Grassroots & Community First<br>WFT Community First<br>Youth Social Action Fund (UKCF)<br>Gloucestershire Carers - Legacy provision<br>**Total restricted funds**<br>The Honourable Company of<br>Gloucestershire<br>The Honourable Company of<br>Gloucestershire Community First Fund|At 1<br>January<br>2022<br>£<br>2,597<br>3,728<br>125<br>4,300<br>4,000<br>228<br>21<br>13,480<br>1,624<br>2,151<br>-<br>3,171<br>1,362<br>1<br>13,620<br>-<br>6,842<br>338<br>17,003<br>58<br>644<br>9207<br>24<br>8,015<br>87<br>219<br>20,000<br>14,195<br>33<br>-<br>10,298<br>6,207<br>2,657<br>6<br>581<br>10,944<br>2,462<br>1<br>689<br>24,928<br>32,720<br>83<br>126<br>9,046<br>-<br>1,606<br>148<br>3<br>4,353<br>6,789<br>620<br>50,000<br>291,340|Net Income<br>£<br>4,744<br>42,874<br>-<br>628<br>-<br>383<br>241<br>72,000<br>218<br>312<br>18,000<br>343<br>190<br>-<br>24<br>66,434<br>2,003<br>24<br>754<br>-<br>6,854<br>10,674<br>2,396<br>50,080<br>908<br>750<br>-<br>411<br>27,000<br>-<br>10,000<br>4,628<br>-<br>3,001<br>56<br>1,618<br>2,634<br>-<br>90<br>41,088<br>20,000<br>818<br>-<br>4,475<br>20,000<br>488<br>75<br>769<br>853<br>8,056<br>-<br>(10,000)<br>416,894|Net<br>Expenditure<br>£<br>-<br>(46,602)<br>-<br>(1,000)<br>-<br>(550)<br>(800)<br>(54,209)<br>(2,300)<br>(3,176)<br>(18,000)<br>(3,800)<br>(1,935)<br>-<br>(13,639)<br>(34,100)<br>(4,630)<br>(400)<br>(5,000)<br>-<br>(22,589)<br>(43,130)<br>(4,500)<br>(72,965)<br>(3,100)<br>(2,500)<br>(12,000)<br>-<br>(28,872)<br>(1,000)<br>-<br>(6,010)<br>-<br>(10,000)<br>(700)<br>(11,351)<br>(18,900)<br>-<br>-<br>(51,606)<br>(23,756)<br>(1,400)<br>-<br>(13,024)<br>-<br>(1,370)<br>-<br>(2,500)<br>-<br>(10,000)<br>-<br>-<br>(531,414)|£<br>-<br>-<br>-<br>1,475<br>-<br>-<br>567<br>-<br>511<br>731<br>-<br>3,430<br>446<br>-<br>-<br>7,523<br>28,703<br>57<br>1,771<br>-<br>16,084<br>87,765<br>2,082<br>31,697<br>2,136<br>1,762<br>-<br>966<br>4,800<br>-<br>-<br>-<br>-<br>7,041<br>133<br>3,790<br>40,956<br>-<br>686<br>39,756<br>-<br>502<br>-<br>-<br>-<br>1,143<br>-<br>1,805<br>5,165<br>-<br>-<br>-<br>293,483<br>Transfers<br>between<br>funds|**£**<br>**7,341**<br>**-**<br>**125**<br>**5,403**<br>**4,000**<br>**61**<br>**30**<br>**31,271**<br>**53**<br>**18**<br>**-**<br>**3,144**<br>**63**<br>**1**<br>**4**<br>**39,857**<br>**32,918**<br>**19**<br>**14,528**<br>**58**<br>**994**<br>**64,516**<br>**2**<br>**16,827**<br>**31**<br>**230**<br>**8,000**<br>**15,573**<br>**2,961**<br>**(1,000)**<br>**20,298**<br>**4,825**<br>**2,657**<br>**48**<br>**70**<br>**5,001**<br>**27,152**<br>**1**<br>**1,465**<br>**54,166**<br>**28,964**<br>**3**<br>**126**<br>**497**<br>**20,000**<br>**1,867**<br>**224**<br>**77**<br>**10,371**<br>**4,845**<br>**620**<br>**40,000**<br>**-**<br>**At 31**<br>**December**<br>**2022**|
|---|---|---|---|---|---|
||||||470,305|



41 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

## **17. Revenue funds (continued)** 

**Prior period comparatives (continued):** 

|**he year ended 31 December 2023**<br>**Revenue funds (continued)**<br>**Prior period comparatives (continued):**||||||
|---|---|---|---|---|---|
|Staffing and support<br>**Total revenue funds**<br>**Unrestricted funds**<br>**Total unrestricted funds**|At 1<br>January<br>2022<br>£<br>124,468<br>124,468<br>415,808|Net Income<br>£<br>142,265<br>142,265<br>559,159|Net<br>Expenditure<br>£<br>(167,956)<br>(167,956)<br>(699,370)|£<br>-<br>-<br>293,483<br>Transfers<br>between<br>funds|**£**<br>**98,777**<br>**At 31**<br>**December**<br>**2022**|
||||||**98,777**|
||||||**569,082**|



42 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

**For the year ended 31 December 2023** 

|**18. Grants payable to institutions and individuals**<br>**Disadvantaged communities:**<br>Centred Horseplay<br>Chalfest Community Interest Company<br>Chalford Parish Council<br>Churchdown Methodist Church<br>Circles South West<br>Community Roots CIC<br>Cotswold Counselling<br>Creative Sustainability CIC (2 grants totalling)<br>Cruse Bereavement Care Gloucestershire<br>Dean Forest Railway Society<br>Discover DeCrypt<br>Fairford & District Mens Shed<br>Fairford and Lechlade Areas Working for Wellbeing<br>Fairford Town Council<br>GL Communities<br>GL11 Community Hub<br>George Paul<br>Gloucestershire Cricket Foundation<br>Infobuzz Ltd<br>Joys Green Recreation<br>Lydney Community Centre<br>Miss Morgan Dutton<br>Miss Tieti Lumakangilu<br>Mr Oliver Wright<br>Nelson Trust<br>Northway Parish Council<br>Paganhill Community Group<br>Priors Park Neighbourhood Project<br>Read Easy Cheltenham and Gloucester<br>Sanctuary Breaks CIO<br>Severn Area Rescue Association<br>St Catharine's Under Fives Playgroup<br>Stonehouse Community Association<br>The Quarry Chapel<br>Tredworth Estates Tenants and Residents Assocation (TETRA)<br>**9 grant totalling**|**2023**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>6,500<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>1,200<br>2,500<br>-<br>-<br>-<br>1,913<br>2,000<br>1,678<br>-<br>-<br>-<br>-<br>500<br>5,000<br>-<br>-<br>-<br>-<br>-<br>**21,290**|2022<br>£<br>2,000<br>5,000<br>1,000<br>2,500<br>4,800<br>5,000<br>5,000<br>-<br>5,000<br>2,000<br>3,416<br>4,035<br>4,384<br>5,000<br>1,500<br>2,000<br>-<br>-<br>5,000<br>3,000<br>1,000<br>-<br>-<br>-<br>1,500<br>500<br>1,624<br>1,000<br>-<br>-<br>1,200<br>350<br>500<br>2,600<br>4,000|
|---|---|---|
|||74,909|



43 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

**For the year ended 31 December 2023** 

**18. Grants payable to institutions and individuals (continued)** 

|**People in poverty / low income:**<br>4th Cheltenham Boys Brigade<br>Alabare - Gloucestershire Homes for Veterans<br>Bloodhound Education Ltd (Education centre at GSTP GLOS) (3 grants totalling)<br>Caring for Communities and People<br>Cashes Green Community Centre<br>Cheltenham Housing Aid Centre<br>Chipping Campden Support Hub<br>Christians Against Poverty<br>Churn Neighbourhood Project, The<br>Cirencester Housing for Young People (CHYP) (2 grants totalling)<br>Clean Slate Training and Employment<br>Dean Forest Kitchen<br>Door Youth Project<br>Dursley Tabernacle Church<br>Family Haven, The<br>Family Space in Hesters Way<br>Forest Sensory Services<br>GL4 CIC<br>GL Communities<br>Gloucester City Mission<br>Gloucester Elim Church<br>Gloucester Foodbank (2 grants totalling)<br>Goals Beyond Grass<br>Greenway Gifts Food Bank<br>IT Schools Africa<br>Kingfisher Treasure Seekers Ltd (2 grants totalling)<br>Middle of the Hill Community Association<br>North and West Gloucestershire Districe Citizens Advice<br>Paganhill Community Group<br>Priors Park Neighbourhood Project<br>Read Easy Cheltenham and District<br>Stroud and District Citizens Advice Bureau<br>Stroud Subscription Rooms Trust<br>The Country Food Trust<br>The Keepers - Wotton Area Community Hub<br>The Gloucestershire Society<br>The Recycling Shop CIC<br>University of Gloucestershire Students' Union<br>**26 grants totalling**|**2023**<br>**£**<br>2,500<br>-<br> <br>6,189<br>500<br>2,500<br>-<br>1,000<br>-<br>1,500<br>-<br>2,000<br>-<br>1,500<br>2,000<br>2,000<br>-<br>2,500<br>-<br>2,500<br>-<br>-<br>3,500<br>1,000<br>1,000<br>-<br>3,250<br>-<br>-<br>-<br>-<br>-<br>3,000<br>1,900<br>8,000<br>1,500<br>-<br>1,000<br>1,000<br>**51,839**|2022<br>£<br>-<br>2,500<br>-<br>-<br>1,500<br>5,000<br>-<br>1,000<br>1,500<br>7,500<br>3,000<br>2,500<br>-<br>-<br>1,000<br>3,750<br>-<br>1,200<br>-<br>5,000<br>1,500<br>-<br>1,500<br>-<br>10,000<br>-<br>4,000<br>5,000<br>5,000<br>10,000<br>2,240<br>5,000<br>-<br>-<br>-<br>2,000<br>-<br>-|
|---|---|---|
|||81,690|



44 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

**For the year ended 31 December 2023** 

## **18. Grants payable to institutions and individuals (continued)** 

|**Grants payable to institutions and individuals (continued)**|||
|---|---|---|
||**2023**|2022|
||**£**|£|
|**Children and young people**|||
|4th Cheltenham Boys Brigade|2,000|1,500|
|7th Gloucester Boys Brigade and Girls Association|-|1,500|
|Allsorts (2 grants totalling)|6,000|-|
|Battledown District Guides|110|-|
|Brendan's Bridge formerly Bridge Training Resources|-|2,000|
|Brockweir Community Interest Company|-|5,000|
|Brockworth Link|5,000|-|
|Centred Horseplay|-|2,500|
|Charlies|1,500|-|
|Cheltenham Festivals|2,500|10,000|
|Cheltenham Saracens Football Club|2,200|-|
|Cheltenham Sea Cadets|-|1,414|
|Cindeford and District Swimming Club|-|1,590|
|Cinderford Area Neighbourhood Development Initiative (CANDI)|2,400|5,000|
|Cotswold Boatmobility|-|2,500|
|Creative Sustainability CIC (2 grants totalling)|7,500|2,000|
|Door Youth Project (3 grants totalling)|9,455|-|
|Down Hatherley Cricket Club|240|-|
|Fair Shares Gloucestershire|-|2,000|
|Football's Finest Six|-|2,500|
|Forest of Dean Sea Cadets|1,000|-|
|Forest Voluntary Action Forum|-|2,500|
|Four Towns Play Association|2,500|2,500|
|Getting Court|-|6,000|
|GL4 CIC|1,000|-|
|Glos Bangladeshi Youth Organisation|2,500|-|
|Gloucester and Forest Alternative Provision School|-|2,500|
|Gloucestershire Bundles|2,500|8,000|
|Gloucestershire Magistrates Association|-|2,500|
|Gloucestershire Young Carers (2 grants totalling)|-|2,870|
|Heart Heroes (2 grants totalling)|2,000|1,000|
|Lumbs Educational Foundation (2 grants totalling)|6,000|5,000|
|MY:UK|-|1,700|
|Nailsworth Youth Club|-|1,500|
|Newent Initiative Trust|2,500|-|
|Priors Park Neighbourhood Project|-|2,396|
|Read With Me (3 grants totalling)|7,000|13,785|
|Ruardean Youth Club|2,500|-|
|Severn Valley Alternative Provision School|-|500|
|Slimbridge School|-|1,000|
|St George's Church|800|-|
|Strike a Light|2,500|-|
|Tewkesbury Rugby FC|-|2,500|
|The Chamwell Centre Charity|20,000|-|
|The Inspire Arts Trust|419|-|
|The Music Works|2,500|5,000|
|The Rock (2 grants totalling)|4,500|2,500|
|The Spring Centre Trust Fund|5,000|-|
|Together in Matson|-|2,500|
|Toucan for Children CIO|1,500|-|
|Viney Hill Christian Adventure Centre (2 grants totalling)|-|5,000|



45 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

**For the year ended 31 December 2023** 

|**18. Grants payable to institutions and individuals (continued)**<br>**Children and young people (continued)**<br>WAM Youth Charity<br>Water City Music<br>Wickselm House Learning Centre CIC<br>Wotton Community Sports Foundation (WCSF)<br>Your Next Move (2 grants totalling)<br>**39 grants totalling**<br>**Minority communities:**<br>Barton and Tredworth Cultural Fayre<br>Ebony Carers Group (3 grants totalling)<br>Gloucester Helping Hands<br>Nowans Community Trust/Lives of Colour (3 grants totalling)<br>Strike a Light<br>Truth Boxing Club Limited<br>**4 grants totalling**<br>**Older people:**<br>Allsorts<br>Bethesda Methodist Church<br>Bookworm Tewkesbury Community Interest Company Ltd<br>Chalford Parish Council<br>Community Connexions (2 grants totalling)<br>Cotswold Friends (2 grants totalling)<br>Fair Shares Gloucestershire (2 grants totalling)<br>Fairford and Lechlade Areas Working for Wellbeing<br>Forest of Dean Crossroads Caring<br>GL3 Community Hub<br>Guideposts Trust<br>Hope for Tomorrow<br>Mindsong<br>Newent Association for the Disabled<br>North and West Gloucestershire District Citizens Advice<br>Sherborne Community Group<br>Shurdington Community Centre<br>Springbank Community Centre<br>The Barn Theatre Project<br>The Harvey Centre (Minsterworth Free School Foundation)<br>The Keepers - Wotton Area Community Hub<br>The Recollectives<br>Wyldwood Arts<br>**13 grants totalling**|**2023**<br>**£**<br>3,675<br>-<br>-<br>-<br>-<br>**109,299**|2022<br>£<br>5,000<br>2,500<br>2,399<br>3,900<br>7,500|
|---|---|---|
|||**132,054**|
||**2023**<br>**£**<br>1500<br>-<br>1,000<br>-<br>9,800<br>1,000<br>**13,300**<br>-<br>5,000<br>-<br>2,000<br>6,000<br>5,000<br>7,000<br>-<br>5,000<br>-<br>2,500<br>1,000<br>-<br>-<br>6,440<br>2,000<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**41,940**|2022<br>£<br>1000<br>8335<br>-<br>12,500<br>-<br>-|
|||21,835|
|||1,225<br>-<br>750<br>-<br>-<br>9,000<br>-<br>2,000<br>-<br>750<br>-<br>-<br>500<br>5,000<br>2,500<br>-<br>500<br>2,500<br>4,500<br>2,000<br>1,500<br>(2,500)<br>5,000|
|||35,225|



46 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

**For the year ended 31 December 2023** 

## **18. Grants payable to institutions and individuals (continued)** 

|**Families:**<br>Bloodhound Education Ltd<br>Cheltenham Christian Arts<br>Cheltenham YMCA<br>Churn Neighbourhood Project, The<br>Cirencester Opportunity Group Limited (2 grants totalling)<br>Family Haven, The<br>Fresh Hop<br>Gloucester Child Contact Centre<br>Gloucestershire Community Rail Partnership<br>Home-Start Stroud<br>Hunts Grove Parish Council<br>Kingshill House Arts Centre<br>Monkscroft Pastoral Care Project (2 grants totalling)<br>Priors Park Neighbourhood Project<br>St Gregory's Childcare Trust<br>Stroud Subscription Rooms Trust<br>Tibberton and Taynton Women's Institute (2 grants totalling)<br>Together in Matson<br>Wye Valley River Festival CIC (3 grants totalling)<br>**15 grants totalling**<br>**Carers:**<br>Cheltenham Mental Health Carers Support Group<br>Churn Neighbourhood Project, The<br>Cirencester Carer Support Group<br>Forest (Mental Health) Carers Support Group<br>GL Communities<br>Infobuzz<br>Kate's Home Nursing<br>Longfield Hospice Care<br>Maggie's Cheltenham<br>Newent Association for the Disabled<br>Parent and Carer Alliance CIC (2 grants totalling)<br>**8 grant totalling**|**2023**<br>**£**<br>-<br>-<br>-1,905<br>-<br>4,948<br>6,000<br>2,000<br>-<br>2,500<br>5,000<br>-<br>-<br>7,470<br>-<br>-<br>2,000<br>490<br>5,000<br>9,000<br>**42,503**<br>260<br>-<br>4,158<br>1,000<br>-<br>-<br>500<br>10,500<br>-<br>6,000<br>4,500<br>**26,918**|2022<br>£<br>1,545<br>1,823<br>1,905<br>5,000<br>5,000<br>-<br>-<br>2,000<br>-<br>8,630<br>1,000<br>1,500<br>-<br>2,540<br>10,000<br>-<br>-<br>-<br>-|
|---|---|---|
|||40,943|
|||-<br>5,250<br>-<br>-<br>5,763<br>10,500<br>-<br>9,931<br>5,560<br>-|
|||**37,003**|



47 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

**For the year ended 31 December 2023** 

## **18. Grants payable to institutions and individuals (continued)** 

|**Local Residents**<br>Churchdown Methodist Church<br>Cotswold Counselling<br>Encouter Vineyard Winchcombe<br>Extracare Charitable Trust<br>Fairford and Lechlade Areas Working for Wellbeing<br>Forest Fighting Fit<br>GL11 Community Hub (2 grants totalling)<br>GL3 Community Hub<br>Gloucester Community Building Collective<br>IVAR (Institute for Voluntary Action Research)<br>Longborough & Sezincote Village Hall<br>People for You<br>Priors Park Neighbourhood Project<br>Relate Severn and Wye<br>Stroud Book Festival<br>The Barn Theatre Project<br>Wyldwood Arts<br>**17 grants totalling**<br>**People with disabilities and health difficulties:**<br>Allsorts<br>Art for All<br>Artlift<br>Art Shape<br>Beam Gymnastics<br>Blackbridge/New Dawn View Allotments<br>Building Circles in Gloucestershire<br>Centred Horseplay<br>Charlies<br>Cotswold Riding for the Disabled<br>Footsteps Counselling & Care<br>Forest (Mental Health) Carers Support Group<br>Forest of Dean Sculpture Trust CIO<br>Forest Pulse (3 grants totalling)<br>Forest Read Easy<br>Forest Sensory Services<br>Fresh Air Sculpture Show<br>GL11 Community Hub<br>Gloucestershire Academy of Music<br>Gloucesteshire Deaf Association<br>Gloucestshire Young Carers<br>Goals Beyond Grass (2 Grants totalling)<br>Gympanzees<br>Home Start North and West Gloucestershire<br>Hundred Heroines<br>ITSA Digital Trust<br>Listening Post Christian Counselling Service Ltd (3 grants totalling)<br>Longfield Hospice Care<br>Lydney Dial A Ride<br>Newent Association for the Disabled<br>Shine!<br>St James and All Saints and Christ Church Gloucester<br>St Rose's and St Martin's<br>Sratton Primary PTA<br>Suicide Crisis<br>Sunflowers Suicide Support<br>The Living Paintings Trust<br>The Music Works<br>The Recycling Shop CIC<br>The Spring Centre Trust Fund<br>Torthworth Forest Centre CIC<br>Wild Acres Community Project CIC<br>Wye Valley River Festival<br>**29 grants totalling**|**2023**<br>**£**<br>2,500<br>5,000<br>1,000<br>-<br>2,500<br>1,800<br>6,500<br>1,000<br>2,500<br>500<br>1,000<br>5,000<br>5,000<br>2,500<br>2,000<br>5,000<br>5,000<br>**48,800**<br>-<br>2,000<br>-<br>3,000<br>-<br>500<br>1,000<br>2,000<br>-<br>2,000<br>-<br>-<br>-<br>9,500<br>750<br>2,000<br>5,000<br>-<br>5,000<br>2,391<br>-<br>6,850<br>-<br>1,000<br>-<br>2,500<br>10,000<br>-<br>-<br>5,000<br>6,000<br>-<br>-<br>958<br>-<br>2,435<br>-<br>-<br>5,000<br>2,000<br>2,000<br>5,058<br>-<br>**83,942**|2022<br>£<br>**-**<br>**-**<br>**-**<br>485<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|
|---|---|---|
|||485|
|||1,000<br>-<br>6,612<br>-<br>-<br>-<br>-<br>-<br>153<br>-<br>5,000<br>3,760<br>8,000<br>3,223<br>-<br>4,125<br>-<br>245<br>-<br>5,000<br>10,374<br>2,490<br>2,000<br>4,000<br>1,220<br>-<br>2,500<br>1,851<br>5,000<br>-<br>-<br>1,200<br>3,000<br>-<br>1,200<br>-<br>1,500<br>2,000<br>-<br>250<br>-<br>-<br>1,000|
|||76,703|



48 



County of Gloucestershire Community Foundation For the Year Ended 31 December 2023 

## **County of Gloucestershire Community Foundation** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2023** 

|**18. Grants payable to institutions and individuals (continued)**<br>**Homelessness**<br>Cheltenham Housing Aid Centre (3 grants totalling)<br>Gloucester City Mission<br>Gloucester Nightstop (2 grants totalling)<br>**6 grants totalling**<br>**Other**<br>Chelsea Carter<br>Forest Fighting Fit<br>Gloucester Rugby Community Charity<br>Gloucestershire VCS Alliance<br>Heart Heroes<br>Honour Thy Woman Group<br>Men in Sheds Cheltenham & Gloucester<br>Milly Haywood<br>Nelson Garden Trust Project<br>William Collier<br>**10 grants totalling**<br>**Total grants payable to institutions and individuals**|**2023**<br>**£**<br>8,000<br>1,500<br>5,700<br>**15,200**<br>**2023**<br>**£**<br>1,300<br>1,950<br>2,500<br>1,897<br>2,000<br>5,000<br>2,000<br>2,000<br>17,015<br>2,000<br>**37,662**<br>**492,693**|2022<br>£<br>-<br>-<br>-|
|---|---|---|
|||-|
|||2022<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|
|||-|
|||500,847|



## **19. Capital commitments** 

At the balance sheet date there were no commitments for capital expenditure (2022 : nil). 

## **20. Related party transactions** 

A number of trustees are connected to organisations that have benefitted from grants distributed by GCF during the year. These are detailed below: 

J Tabor QC, Trustee of The Nelson Trust 

J Tabor QC, Trustee of Infobuzz Ltd 

T Clark, Chief Executive Officer, Young Gloucestershire & Infobuzz Ltd 

E Lord, Deputy Manager, The Cavern, Kingfisher Treasure Seekers (2 grants totalling £3,250) Sir Graham Miller, Patron, fly2help 

Sir Graham Miller, Committee Member, Gloucestershire Nightstop (2 grants totalling £5,700) 

A number of trustees are connected to organisations that hold funds with GCF during the year. These are detailed below: 

J Tabor QC, member of the Honourable Company of Gloucestershire 

Sir Graham Miller, member of Honourable Company of Gloucestershire 

Sir Graham Miller, High Sheriff of Gloucestershire (to March 2023) 

Henry Robinson, High Sheriff of Gloucestershire (from March 2023) 

J Dunley, Director and Company Secretary of The Robert Hitchins Group Limited 

J Dunley, member of the Honourable Company of Gloucestershire 

A number of trustees have supported the Foundation by making donations to the Foundation. A total of £15,871 from 7 Trustees. 

**21. Connected charities** 

During the year the finance administrative functions of GCF were provided by Quartet Community Foundation. The services provided, and the agreed fee for these services, are detailed in a service level agreement signed by both organisations. A Patron of Quartet, Dame Janet Trotter DBE, is also the President of GCF but the two organisations do not have any trustees, or affiliated members, in common. Both organisations are members of UK Community Foundations. 

49 



## Gloucestershire Community Foundation - Statutory Accounts 2023- For Signing 

Final Audit Report 2024-09-26 

Created: 2024-09-25 By: Ryszard Szarszewski (admin@randall-payne.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAqSlmajC4BdUDjRjqKfSn8fV4cyN8rJ_N 

## "Gloucestershire Community Foundation - Statutory Accounts 20 23- For Signing" History 

- Document created by Ryszard Szarszewski (admin@randall-payne.co.uk) 

- 2024-09-25 - 2:49:27 PM GMT- IP address: 82.33.214.66 

- Document emailed to Richard Ingle (richardinglebiz@outlook.com) for signature 

- 2024-09-25 - 2:49:42 PM GMT 

- Document emailed to Henry Robinson (henry@moorwoodhouse.co.uk) for signature 

- 2024-09-25 - 2:49:42 PM GMT 

- Document emailed to Ryan Moore (ryan.moore@randall-payne.co.uk) for signature 

2024-09-25 - 2:49:42 PM GMT 

- Email viewed by Ryan Moore (ryan.moore@randall-payne.co.uk) 

2024-09-25 - 2:53:46 PM GMT- IP address: 82.132.214.112 

Email viewed by Richard Ingle (richardinglebiz@outlook.com) 2024-09-25 - 3:18:15 PM GMT- IP address: 80.192.127.253 

- Signer Richard Ingle (richardinglebiz@outlook.com) entered name at signing as Richard Ingle 2024-09-25 - 3:20:17 PM GMT- IP address: 80.192.127.253 

- Document e-signed by Richard Ingle (richardinglebiz@outlook.com) 

Signature Date: 2024-09-25 - 3:20:19 PM GMT - Time Source: server- IP address: 80.192.127.253 

- Email viewed by Henry Robinson (henry@moorwoodhouse.co.uk) 

2024-09-25 - 6:18:25 PM GMT- IP address: 82.132.230.5 

- Document e-signed by Ryan Moore (ryan.moore@randall-payne.co.uk) 

Signature Date: 2024-09-25 - 8:43:26 PM GMT - Time Source: server- IP address: 82.33.214.66 



- Signer Henry Robinson (henry@moorwoodhouse.co.uk) entered name at signing as Henry Robinson 2024-09-26 - 7:10:40 AM GMT- IP address: 145.224.67.254 

- Document e-signed by Henry Robinson (henry@moorwoodhouse.co.uk) Signature Date: 2024-09-26 - 7:10:42 AM GMT - Time Source: server- IP address: 145.224.67.254 

## Agreement completed. 

2024-09-26 - 7:10:42 AM GMT