John Upton Charity Annual Report 2019/20

This is the second annual report from the John Upton Charity. Gawsworth Parish Council, as trustee
to the Charity wish to keep Gawsworth residents informed about how the charity is working towards
its objectives and to report publicly on its financial position. This short report is in addition to the
annual financial information we submit to the Charities Commission and which is available on their
website. This report covers the period until the end of March 2020.

The John Upton Charity exists to make grants for the benefit of Gawsworth residents. These are
funded from the interest we receive on our permanent endowment. During 2019-2020 we made
grants totalling £6332 , up from £3600 in the previous year. The Methodist Church received two
grants spanning two financial years each of £600 to help expenses for their community coffee
mornings. Gawsworth Community Shop received a grant of £2632 towards the cost of work to set up
the Community Hub. St James Church received £2500 towards the cost of replacement of the Oak
Gates to the churchyard.

We maintain a healthy financial position with financial assets of £407,175.00 at year end. Of this,
£375,000 forms the Permanent Endowment Fund while the remainder is available to make grants
and cover expenses. Our constitution restricts our investment of the permanent endowment to
banks and building societies with FSCS protection. Interest rates are currently low but we did
generate an income of £6978 which is available for grants and to cover expenses. Falling interest
rates mean that our income is likely to reduce over the next few years as our fixed term investments
mature and the permanent endowment is reinvested.

We strive to keep our expenses to a minimum. Staff costs in 2019-2020 were lower than usual
because our clerk / treasurer position was vacant for part of the year. We are delighted to have
appointed local resident Loraine Wood as Clerk / Treasurer to the Charity during this financial year.
Our only other significant expense was maintenance of the small piece of land which we own
adjacent to Moss Cottages off Penningtons Lane which cost us £717 including insurance.
Looking forward the trustees hope to continue to make grants that benefit the community at a level
at which grants and expenses equate to our annual income. We welcome comments and
suggestions to the clerk / treasurer. JohnUptonCharity@gawsworthpc.org.uk

Paul Woods
Chairman (until May 2020)
Gawsworth Parish Council as Trustee of the John Upton Charity