~~Table~~SECURITIES ofAND ~~Contents~~EXCHANGE COMMISSION

~~SECURITIES~~Washington, ~~AND~~D.C. ~~EXCHANGE COMMISSION~~20549

~~Washington,~~FORM ~~D.C. 20549~~6-K

~~______________________________~~REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934

~~FORM~~For ~~6-K~~the month of May 2006

~~REPORT~~Gracechurch OFCard Funding ~~FOREIGN~~(No. 3) ~~ISSUER~~PLC ~~PURSUANT~~Barclaycard TOFunding ~~RULE 13a-16 OR 15d-16 OF THE~~PLC ~~SECURITIES~~Gracechurch ~~EXCHANGE~~Receivables ~~ACT~~Trustee ~~OF 1934~~limited

~~For~~(Exact ~~the~~name ~~month~~ of ~~July 2005~~ Registrant as specified in its charter)

~~Gracechurch~~1 ~~Card Funding~~Churchill ~~(No. 3) PLC~~Place, ~~Barclaycard~~London ~~Funding~~E14 ~~PLC~~5HP ~~Gracechurch~~United ~~Receivables Trustee limited~~Kingdom 44-171-699-5000

(~~Exact~~Address ~~name~~ of ~~Registrant~~Principal asExecutive ~~specified in its charter~~Office)

~~______________________________~~ Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

~~54 Lombard Street, London EC3P 3AH United Kingdom 44~~Form 20-~~171~~F þ Form 40-~~699-5000~~F o ~~(Address of Principal Executive Office)~~

~~______________________________~~ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

~~Indicate by check mark whether the registrant files or will~~Yes o No þ ~~file annual reports under cover Form 20-F or Form 40-F.~~

~~Form~~ If ~~20-F~~“Yes” þis ~~Form~~marked, 40indicate below the file number assigned to the registrant in connection with Rule 12g3-F2(b): o82-

~~Indicate by check mark whether the registrant by furnishing the~~SIGNATURE ~~information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.~~

~~Yes~~Pursuant oto Nothe þrequirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

~~If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b)~~Date: 15th ~~82-__________~~June 2006

~~TABLE~~GRACECHURCH OFCARD ~~CONTENTS~~FUNDING (NO. 3) PLC Paul Gerard Turner Title: Director BARCLAYCARD FUNDING PLC Paul Gerard Turner Title: Director GRACECHURCH RECEIVABLES TRUSTEE LIMITED Paul Gerard Turner Title: Director

~~SIGNATURE~~ EXHIBIT C SCHEDULE TO EXHIBIT B MONTHLY SERVICER’S REPORT

~~Table~~MONTHLY ofPERIOD ~~Contents~~ENDING 31 May 2006 RECEIVABLES TRUST SERIES 03-1

SIGNATURE


1.	The aggregate amount of the Investor Percentage of Principal Collections				£	131,984,272.64


2.	The aggregate amount of the Investor Percentage of Finance Charge Collections				£	7,684,652.56


3.	The aggregate amount of the Investor Percentage of Annual Fees				£	2,645,573.29


4.	The aggregate amount of the Investor Percentage of Acquired Interchange				£	933,590.03


5.	The aggregate amount of funds credited to the Finance Charge Collections Ledger allocable to Series 03-1				£	11,263,815.88


6.	The aggregate amount of funds credited to the Principal Collections Ledger allocable to Series 03-1				£	131,984,272.64


7.	The aggregate amount of funds credited to the Principal Collections Ledger calculated as Investor Cash Available for Acquisition for Series 03-1 during the preceding Monthly Period in accordance with Clauses 5.06(a) and 5.06(b)				£	118,785,845.72


8.	The aggregate amount to be withdrawn from the Finance Charge Collections Ledger and paid to the spread Account pursuant to Clause 5.15(f)				£	0.00


9.	The excess, if any, of the Required Spread Amount over the Available Spread Amount				£	0.00


10.	The aggregate amount to be withdrawn from the Spread Account and paid on behalf of Series 03-1 in accordance with Clause 5.19(b)(iv)(A)				£	0.00


11.	The Available Spread Amount on the Transfer Date of the current calendar month, after giving effect to the deposits and withdrawals specified above, is equal to				£	0.00


12.	The amount of interest payable in respect of Related Debt by the Series 03-1 Investor Beneficiary and for the purposes of calculation treated as referable to:

	(i)	Class A	£	2,292,561.46	$	4,022,738.25


	(ii)	Class B	£	135,036.88	$	234,679.90


	(iii)	Class C	£	161,064.97	$	273,429.90

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


13.	The amount of principal payable in respect of Related Debt by the Series 03-1 Investor Beneficiary and for the purposes of calculation treated as referable to:

	(i)	Class A	£	0.00	$	0.00


	(ii)	Class B	£	0.00	$	0.00


	(iii)	Class C	£	0.00	$	0.00


14.	The sum all amounts payable in respect of Related Debt by the Series 03-1 Investor Beneficiary and for the purposes of calculation treated as referable to:
	(i)	Class A	£	2,292,561.46	$	4,022,738.25

	(ii)	Class B	£	135,036.88	$	234,679.90

	(iii)	Class C	£	161,064.97	$	273,429.90


15.	To the knowledge of the undersigned, no Series Pay Out Event or Trust Pay Out Event has occurred except as described below:

	None

~~Date: 15th August~~ IN WITNESS WHEREOF, the undersigned has duly executed and delivered this 15 ~~2005~~day of June 2006.

~~GRACECHURCH~~BARCLAYS ~~CARD~~BANK ~~FUNDING (NO. 3)~~ PLC, ~~Paul~~By: ~~Gerard Turner Title~~Name: ~~Director~~John ~~BARCLAYCARD~~Llewellyn-Jones ~~FUNDING PLC Paul Gerard Turner~~ Title: ~~Director~~Barclaycard ~~GRACECHURCH~~Financial ~~RECEIVABLES TRUSTEE LIMITED Paul Gerard Turner Title: Director~~Controller

EXHIBIT C SCHEDULE TO EXHIBIT B MONTHLY SERVICER’S REPORT MONTHLY PERIOD ENDING 31 July 2005 RECEIVABLES TRUST SERIES 03-1

1.	The aggregate amount of the Investor Percentage of Principal Collections				£	126,672,991.03
2.	The aggregate amount of the Investor Percentage of Finance Charge Collections				£	6,028,835.89
3.	The aggregate amount of the Investor Percentage of Annual Fees				£	2,535,815.35
4.	The aggregate amount of the Investor Percentage of Acquired Interchange				£	900,436.42
5.	The aggregate amount of funds credited to the Finance Charge Collections Ledger allocable to Series 03-1				£	9,465,087.67
6.	The aggregate amount of funds credited to the Principal Collections Ledger allocable to Series 03-1				£	126,672,991.03
7.	The aggregate amount of funds credited to the Principal Collections Ledger calculated as Investor Cash Available for Acquisition for Series 03-1 during the preceding Monthly Period in accordance with Clauses 5.06(a) and 5.06(b)				£	114,005,692.47
8.	The aggregate amount to be withdrawn from the Finance Charge Collections Ledger and paid to the spread Account pursuant to Clause 5.15 (f)				£	0.00
9.	The excess, if any, of the Required Spread Amount over the Available Spread Amount				£	0.00
10.	The aggregate amount to be withdrawn from the Spread Account and paid on behalf of Series 03-1 in accordance with Clause 5.19(b)(iv)(A)				£	0.00
11.	The Available Spread Amount on the Transfer Date of the current calendar month, after giving effect to the deposits and withdrawals specified above, is equal to				£	0.00
12.	The amount of interest payable in respect of Related Debt by the Series 03-1 Investor Beneficiary and for the purposes of calculation treated as referable to:
	(i)	Class A	£	2,428,452.95	$	2,711,050.75
	(ii)	Class B	£	142,586.40	$	161,808.38
	(iii)	Class C	£	168,614.50	$	200,558.38

13.	The amount of principal payable in respect of Related Debt by the Series 03-1 Investor Beneficiary and for the purposes of calculation treated as referable to:
	(i)	Class A	£	0.00	$	0.00
	(ii)	Class B	£	0.00	$	0.00
	(iii)	Class C	£	0.00	$	0.00
14.	The sum all amounts payable in respect of Related Debt by the Series 03-1 Investor Beneficiary and for the purposes of calculation treated as referable to:
	(i)	Class A	£	2,428,452.95	$	2,711,050.75
	(ii)	Class B	£	142,586.40	$	161,808.38
	(iii)	Class C	£	168,614.50	$	200,558.38
15.	To the knowledge of the undersigned, no Series Pay Out Event or Trust Pay Out Event has occurred except as described below:
	None

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this 15 day of August 2005.

BARCLAYS BANK PLC, By: Name: John Llewellyn-Jones Title: Barclaycard Financial Controller

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