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REGISTERED COMPANY NUMBER: 11882413 (England and Wales)
REGISTERED CHARITY NUMBER: 1195789










Report of the Trustees and

Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Gloucestershire Agricultural House
Foundation

Gloucestershire Agricultural House
Foundation






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 11

Gloucestershire Agricultural House
Foundation (Registered number: 11882413)

Report of the Trustees
For The Year Ended 31 March 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The aim of the charity is to provide grants and other financial assistance to support charities, individuals and other organisations, focusing on the farming and agriculture and associated industries within the County of Gloucestershire.

Public benefit
The charity looks to achieve these objectives, whilst demonstrating its charitable purpose for the public benefit by the provision of support for the local farming community providing them with assistance, opportunity and advice.

The charity provides the local farming community with a place where people can come together to work, exchange ideas, socialise, and gain new skills and experiences, whilst also providing financial support in the form of grants.

The Trustees consider that they have complied with their duty to have due regard to the public benefit guidance when exercising any powers or duties to which the guidance is relevant.

Grantmaking
£7,900 (2023: £12,144) of farming grants were paid out during the year. This included grants paid to Gloucestershire Federation of Young Farmers and the Farming and Wildlife Advisory Group.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity's operations this year have been in accordance with the management's plans for Agricultural House and charitable donations have been made as described above.

Fundraising activities
Funds are raised through the surplus rental income from Agriculture House and are distributed in accordance with our donation policy meeting our charitable objects.

FINANCIAL REVIEW
Financial position
For the year ended 31st March 2024, unrestricted income was £76,893 (2023: £145,509) , unrestricted expenditure was £53,970 (2023: £44,322), resulting in a net surplus and unrestricted funds of £22,923 for the year and unrestricted funds of £124,110 at the end of the year.

Reserves policy
A reserves policy has been drawn up which states that the Board seeks to keep at least 6 months of "general running costs" in unrestricted reserves.

This amounts to approximately £20,000.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.


Gloucestershire Agricultural House
Foundation (Registered number: 11882413)

Report of the Trustees
For The Year Ended 31 March 2024

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11882413 (England and Wales)

Registered Charity number
1195789

Registered office
Kingscott Dix Limited
Goodridge Court Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Trustees
The Earl Bathurst
S L Weaver Farmer
A J Pritchard Farmer (appointed 25.3.24)
Mrs. A J B Ractliffe Farmer (appointed 25.3.24)
J R Cox Farmer (appointed 25.3.24)
Mrs T Robbins Farmer (appointed 25.3.24)

Independent Examiner
Mark Spashett FCA
Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Approved by order of the board of trustees on 22 October 2024 and signed on its behalf by:





The Earl Bathurst - Trustee

Independent Examiner's Report to the Trustees of
Gloucestershire Agricultural House
Foundation

Independent examiner's report to the trustees of Gloucestershire Agricultural House Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Mark Spashett FCA

Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

21 November 2024

Gloucestershire Agricultural House
Foundation

Statement of Financial Activities
For The Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies - - - 842,412

Investment income 2 76,893 - 76,893 53,097
Total 76,893 - 76,893 895,509

EXPENDITURE ON
Charitable activities
Farming Grants 8,094 - 8,094 12,144

Other 45,876 - 45,876 32,178
Total 53,970 - 53,970 44,322

NET INCOME 22,923 - 22,923 851,187


RECONCILIATION OF FUNDS
Total funds brought forward 101,187 750,000 851,187 -

TOTAL FUNDS CARRIED FORWARD 124,110 750,000 874,110 851,187

Gloucestershire Agricultural House
Foundation (Registered number: 11882413)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 750,000 750,000 750,000

CURRENT ASSETS
Debtors 6 42,809 - 42,809 44,921
Cash at bank 103,263 - 103,263 67,458
146,072 - 146,072 112,379

CREDITORS
Amounts falling due within one year 7 (21,962 ) - (21,962 ) (11,192 )

NET CURRENT ASSETS 124,110 - 124,110 101,187

TOTAL ASSETS LESS CURRENT
LIABILITIES

124,110

750,000

874,110

851,187

NET ASSETS 124,110 750,000 874,110 851,187
FUNDS 8
Unrestricted funds 124,110 101,187
Restricted funds 750,000 750,000
TOTAL FUNDS 874,110 851,187

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Gloucestershire Agricultural House
Foundation (Registered number: 11882413)

Balance Sheet - continued
31 March 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 22 October 2024 and were signed on its behalf by:





The Earl Bathurst - Trustee

Gloucestershire Agricultural House
Foundation

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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



The freehold property and land at Agricultural House, Sandhurst Road, Longford ,Gloucestershire which was donated to the charity in 2022 at a value of £750,000 has not been depreciated as the value of the property at today's prices, at the end of its useful life, would be considered to be in excess of the cost shown in the accounts.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


Gloucestershire Agricultural House
Foundation

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Rents received 55,186 40,035
Service charges and recharges 21,372 13,062
Deposit account interest 335 -
76,893 53,097

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 92,412 750,000 842,412

Investment income 53,097 - 53,097
Total 145,509 750,000 895,509

EXPENDITURE ON
Charitable activities
Farming Grants 12,144 - 12,144

Other 32,178 - 32,178
Total 44,322 - 44,322

NET INCOME 101,187 750,000 851,187

TOTAL FUNDS CARRIED FORWARD 101,187 750,000 851,187


Gloucestershire Agricultural House
Foundation

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2023 and 31 March 2024 750,000
NET BOOK VALUE
At 31 March 2024 750,000
At 31 March 2023 750,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 1,900 4,012
Prepayments and accrued income 40,909 40,909
42,809 44,921

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
VAT 512 1,375
Other creditors 7,592 6,876
Accruals and deferred income 13,858 2,941
21,962 11,192

8. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 101,187 22,923 124,110

Restricted funds
Restricted property fund 750,000 - 750,000

TOTAL FUNDS 851,187 22,923 874,110

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 76,893 (53,970 ) 22,923

TOTAL FUNDS 76,893 (53,970 ) 22,923


Gloucestershire Agricultural House
Foundation

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund - 101,187 101,187

Restricted funds
Restricted property fund - 750,000 750,000

TOTAL FUNDS - 851,187 851,187

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 145,509 (44,322 ) 101,187

Restricted funds
Restricted property fund 750,000 - 750,000

TOTAL FUNDS 895,509 (44,322 ) 851,187

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.22 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund - 124,110 124,110

Restricted funds
Restricted property fund - 750,000 750,000

TOTAL FUNDS - 874,110 874,110

Gloucestershire Agricultural House
Foundation

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 222,402 (98,292 ) 124,110

Restricted funds
Restricted property fund 750,000 - 750,000

TOTAL FUNDS 972,402 (98,292 ) 874,110

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.