NORMAN GARON TRUST
Financial health, per its FY2024 accounts
The accounts state that the group held unrestricted reserves of £5,814,687 at year-end, generating a surplus of £257,187. The trustees maintain a reserves policy targeting the greater of 6 months income or 6 months overheads and committed grants to mitigate temporary income loss. The auditors confirmed that the use of the going concern basis of accounting was appropriate with no material uncertainties identified.
What the accounts disclose
“Reflecting the long term nature of the trustee investment portfolio, the trustees believe that sufficient resources should be retained equivalent to the greater of 6 months income or 6 months overheads and committed grants at any time, to mitigate any temporary loss of income.” — page 4
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- MICHEAL ELWYN HUGHES
- PAUL JUSTIN STENNETT
- PHILIP JOHN TOLHURST
- RICHARD FURLONGER
- Robert Andrew Bye
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £3.2m | £2.9m |
| 31/12/2023 | £2.8m | £2.8m |
| 31/12/2022 | £2.8m | £2.5m |
| 31/12/2021 | £2.2m | £1.8m |
| 31/12/2020 | £1.4m | £1.3m |
Common questions
Is NORMAN GARON TRUST financially healthy?
The accounts state that the group held unrestricted reserves of £5,814,687 at year-end, generating a surplus of £257,187. The trustees maintain a reserves policy targeting the greater of 6 months income or 6 months overheads and committed grants to mitigate temporary income loss. The auditors confirmed that the use of the going concern basis of accounting was appropriate with no material uncertainties identified. Its FY2024 accounts were audited by Edmund Carr LLP.