REGISTERED CHARITY NUMBER: 1010529
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
FOR
THE BEARDER CHARITY
Bairstow and Atkinson Chartered Accountants Carlton House Bull Close Lane Halifax West Yorkshire HX1 2EG
THE BEARDER CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 5 April 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
THE BEARDER CHARITY
REPORT OF THE TRUSTEES for the Year Ended 5 April 2022
The Trustees present their report with the financial statements of the Charity for the year ended 5 April 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the Charity are to relieve persons who are in a condition of poverty or hardship and of distress arising therefrom and who are permanently or temporarily resident in the Metropolitan Borough of Calderdale and to meet the need or give any new benefit for or to the people of Calderdale, such need or benefit to affect any person or persons of any age or any degree of deprivation within the object of giving to that person or persons a better quality of life by supporting any person or persons or any charitable organisation, providing such needs or providing benefits as aforesaid.
To Benefit in any way such other charitable institutions or charitable objects as the Trustees may from time to time in their absolute discretion select but not necessarily within the boundaries of the Metropolitan Borough of Calderdale.
Grant Making Policy
The Bearder Charity markets itself by word of mouth.
The Majority of voluntary bodies operating in the area may apply on behalf of their clients. Other local charities advise potential applicants to contact the Charity direct. The number of individuals applying direct to the Charity has again increased considerably during the year.
All applicants are asked to apply in writing, including by email, to the secretary and because of the volume of weekly applicants for emergency grants in the region of £50 to £350 , two trustees have been designated to decide the outcome of these applications. Grant applications outside of the aforementioned parameters are discussed between all trustees for approval or otherwise. Most hardship requests made to the Charity are approved.
Due to the recession, inflation and high utility costs the trustees have discussed the erosion of capital on several occasions. Their decision is that the primary objective of the Charity is to give ongoing support to the people of Calderdale in their hour of need no matter what and that will entail this capital reduction on an ongoing basis.
ACHIEVEMENT AND PERFORMANCE
During the year the Charity has been able to provide to 23 organisations and numerous individuals (see note 4, page 7). In providing this support, the trustees have held in regard to the public benefit guidance issued by the Charity Commission.
FINANCIAL REVIEW
Financial position
The income from investments has increased during the year of £90,154 (2021 - £85,395), and the charitable grants made during the year increased which amounted to £612,059 (2021 - £394,296). The Market value of investments decreased to £2,873,560 (2021 - £3,295,927).
Principal funding sources
The Charity is solely reliant on the income from its investments.
Investment policy and objectives
There are no restrictions placed on the Trustees' power to invest and the Trustees' policy is to maintain the income from investments whilst trying to maintain the capital value. As Covid-19 brought the first national lockdown in March 2020, the applications to the Charity for living essentials increased rapidly.
The Charity employs Investec Wealth & Investment as investment advisers and managers.
The Charity has chosen not to adopt a formal ethical investment policy.
Reserves policy
All income is distributed every year with none being held in reserve, the reserves held by the Charity are purely of a capital nature.
FUTURE PLANS
For the immediate future the trustees intend to now provide on a weekly basis a maximum of 50 General Grants per week, continuing the emphasis as in the past on the areas mentioned but retaining flexibility as to the timing and scale of grant making.
Page 1
THE BEARDER CHARITY
REPORT OF THE TRUSTEES for the Year Ended 5 April 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Bearder Charity is an unincorporated trust constituted under a trust deed dated 5 March 1992 and is a registered charity, number 1010529.
The Charity takes its name from John Alfred Bearder MBE who was a Solicitor practising in Halifax.
The Charity was endowed by funds bequeathed by Mr Bearder.
The Trustees who have served during the year are set out below. New trustees may be appointed by a resolution passed at a meeting of trustees provided that a memorandum thereof is signed and sealed by the person presiding at such meeting and attested by one other person attending the meeting.
The Chairman is responsible for the induction of any new Trustee which involves awareness of a Trustee's responsibilities, the governing document, administrative procedures, the history and the philosophical approach of the Charity. A new trustee would receive copies of the previous year's annual report and accounts and a copy of the Charity Commission leaflet: The Essential Trustee: What you need to know, what you need to do.
The Trustees usually meet six times a year to assess grant applications and then approve or refuse grants. With the coming of COVID-19 the Trustees agreed that to obey Government restrictions and to protect themselves as vulnerable adults, they would not meet face to face but conduct the Charity's business via email and telephone.
The Trustees annually review the risks that the Charity faces. To date these have mainly been related to investment management. With assistance of the investment managers the Trustees monitor the situation in order to mitigate any fluctuations, investment values may have on the Charity.
The Trustees are also aware of the risks associated with grant making and require detailed documentation from organisations and individuals applying for grants.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1010529
Principal address
5 King Street Brighouse West Yorkshire HD6 1NX
Trustees
RD Smithies T Simpson B Mowforth D Normanton
Independent Examiner
Bairstow and Atkinson Chartered Accountants Carlton House Bull Close Lane Halifax West Yorkshire HX1 2EG
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... RD Smithies - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BEARDER CHARITY
Independent examiner's report to the trustees of The Bearder Charity
I report to the charity trustees on my examination of the accounts of The Bearder Charity (the Trust) for the year ended 5 April 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Peter Dyson Bairstow and Atkinson Chartered Accountants Carlton House Bull Close Lane Halifax West Yorkshire HX1 2EG Date: .............................................
Page 3
THE BEARDER CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 5 April 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Institutional grants Art grants General grants Educational grants Other 5 Total Net gains on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5.4.22 Unrestricted fund £ 377 89,777 90,154 15,564 55,047 1,275 484,607 71,130 11,677 639,300 178,258 (370,888) 3,379,778 3,008,890 |
5.4.21 Total funds £ 110 85,395 |
|---|---|---|
| 85,505 | ||
| 15,984 68,360 1,146 267,690 57,100 8,102 |
||
| 418,382 | ||
| 567,778 | ||
| 234,901 3,144,877 |
||
| 3,379,778 |
The notes form part of these financial statements
Page 4
THE BEARDER CHARITY
BALANCE SHEET
5 April 2022
| Notes FIXED ASSETS Investments 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds: General fund TOTAL FUNDS |
5.4.22 Unrestricted fund £ 2,873,560 3,154 136,309 139,463 (4,133) 135,330 3,008,890 3,008,890 3,008,890 3,008,890 |
5.4.21 Total funds £ 3,295,927 1,043 86,447 |
|---|---|---|
| 87,490 (3,639) |
||
| 83,851 | ||
| 3,379,778 | ||
| 3,379,778 | ||
| 3,379,778 | ||
| 3,379,778 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. RD Smithies - Trustee
The notes form part of these financial statements
Page 5
THE BEARDER CHARITY
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 5 April 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
Taxation
The charity is exempt from 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.
2. INVESTMENT INCOME
| Franked investment income Unfranked investment income Interest on investments |
5.4.22 £ 52,736 7,217 29,824 89,777 |
5.4.21 £ 46,101 9,046 30,248 |
|---|---|---|
| 85,395 |
Page 6
continued...
THE BEARDER CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
3. RAISING FUNDS
Investment management costs
4.
| Portfolio management GRANTS PAYABLE Institutional grants Art grants General grants Educational grants |
5.4.22 £ 15,564 5.4.22 £ 55,047 1,275 484,607 71,130 612,059 |
5.4.21 £ 15,984 5.4.21 £ 68,360 1,146 267,690 57,100 |
5.4.21 £ 15,984 |
|---|---|---|---|
| 394,296 |
The amounts payable to institutions in the year comprise:-
| Alpha House Calderdale | Alpha House Calderdale | 1,000 | |
|---|---|---|---|
| Brighter Future | Academy Trust | 250 | |
| Calderdale MBC | 3,750 | ||
| Calderdale MBC Family Intervention | 1,200 | ||
| Calderdale MBC - Heys | 3,600 | ||
| Calderdale Smartmove | 11,500 | ||
| Elland Silver Band | 1,000 | ||
| Halifax /Calder Rotary | 1,000 | ||
| Halifax Choral Society | 4,000 | ||
| Halifax Junior Cricket league | 3,000 | ||
| Halifax Opportunities Trust | 1,000 | ||
| Horton Housing | 9,200 | ||
| Luddendenfoot Community Centre | 1,200 | ||
| Macmillan Cancer Support | 1,000 | ||
| Overgate Hospice | 1,147 | ||
| P.D.S.A. | 2,000 | ||
| Pennine Spring | Music Festival | 500 | |
| St Augustine's Centre | 500 | ||
| Sure Start North Halifax | 1,000 | ||
| Together Housing Association | 700 | ||
| Women centre | 4,000 | ||
| Yorkshire Childrens Trust | 500 | ||
| Total Institutional Grants | £55,047 | ||
| Reconciliations of Grants Payable | 2022 | 2021 | |
| Commitments at 6 April 2021 | - | - | |
| Commitments Made in Year | £ 612,059 | £ 694,296 | |
| Grants Paid in Year | £(612,059) | £(394,296) | |
| Commitments at 5 April 2022 | - | - |
continued...
Page 7
THE BEARDER CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
5. OTHER
| OTHER | ||
|---|---|---|
| 5.4.22 | 5.4.21 | |
| £ | £ | |
| Support costs | 11,677 | 8,102 |
The Independent Examiner's Fees for the year ended 05.04.2022 was £2,898 (2021 £2,820).
6. TRUSTEES' REMUNERATION AND BENEFITS
The following trustees were paid for services rendered to the charity:-
D Normanton (bookkeeping/Accountancy) - current year £4,194 - (2021 - £3,182)
The Chairman Richard Smithies received honorariums of £1,000, and the trustees Trevor Simpson and Brenden Mowforth both received £300 respectively and David Normanton £500. These amounts are considered to reflect the duties performed in relation to serving the Charity.
There are no other related party transactions.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Institutional grants Art grants General grants Educational grants Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
Unrestricted fund £ 110 85,395 |
|---|---|
| 85,505 | |
| 15,984 68,360 1,146 267,690 57,100 8,102 |
|
| 418,382 | |
| 567,778 | |
| 234,901 3,144,877 |
continued...
Page 8
THE BEARDER CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| TOTAL FUNDS CARRIED FORWARD 8. FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2021 Additions Disposals Revaluations At 5 April 2022 NET BOOK VALUE At 5 April 2022 At 5 April 2021 Historical Cost At 5 April 2022 £2,150,650 (2021: £2,520,541) There were no investment assets outside the UK. Cost or valuation at 5 April 2022 is represented by: |
Unrestricted fund £ |
|
|---|---|---|
| 3,379,778 | ||
| Listed investments £ 3,295,927 2,009 (600,624) 176,248 2,873,560 2,873,560 3,295,927 |
||
| Valuation in 2022 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.22 £ Other debtors 2,311 Prepayments and accrued income 843 3,154 |
Listed investments £ 2,873,560 5.4.21 £ 1,043 - 1,043 |
|---|---|
continued...
Page 9
THE BEARDER CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 11. MOVEMENT IN FUNDS At 6.4.21 £ Unrestricted funds General fund 3,379,778 TOTAL FUNDS 3,379,778 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 90,154 (639,300) TOTAL FUNDS 90,154 (639,300) Comparatives for movement in funds At 6.4.20 £ Unrestricted funds General fund 3,144,877 TOTAL FUNDS 3,144,877 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 85,505 (418,382) TOTAL FUNDS 85,505 (418,382) |
5.4.22 £ 4,133 Net movement in funds £ (370,888) (370,888) Gains and losses £ 178,258 178,258 Net movement in funds £ 234,901 234,901 Gains and losses £ 567,778 567,778 |
5.4.21 £ 3,639 At 5.4.22 £ 3,008,890 3,008,890 Movement in funds £ (370,888) (370,888) At 5.4.21 £ 3,379,778 3,379,778 Movement in funds £ 234,901 234,901 |
|
|---|---|---|---|
continued...
Page 10
THE BEARDER CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2022
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.20 £ 3,144,877 3,144,877 |
Net movement in funds £ (135,987) (135,987) |
At 5.4.22 £ 3,008,890 |
|---|---|---|---|
| 3,008,890 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources resources expended £ £ 175,659 (1,057,682) 175,659 (1,057,682) |
Gains and Movement losses in funds £ £ 746,036 (135,987) 746,036 (135,987) |
Gains and Movement losses in funds £ £ 746,036 (135,987) 746,036 (135,987) |
|---|---|---|---|
| (135,987) |
12. RELATED PARTY DISCLOSURES
Please refer to note 6, in respect of trustees' remuneration.
13. GAINS AND LOSSES ON INVESTMENT ASSETS
There are total gains of £178,258 (2021: £567,768) shown on the face of the Statement of Financial Activities.
An analysis of these gains/(losses) is shown below.
| Fixed asset investments | 2022 | 2021 |
|---|---|---|
| Realised - Gain/(loss) | 228,315 | (46,363) |
| Unrealised - Gain/(Loss) | (50,057) | 614,141 |
| Total | 178,258 | 567,778 |
Page 11
THE BEARDER CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2022
| 5.4.22 | 5.4.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Legacies | 377 | 110 |
| Investment income | ||
| Franked investment income | 52,736 | 46,101 |
| Unfranked investment income | 7,217 | 9,046 |
| Interest on investments | 29,824 | 30,248 |
| 89,777 | 85,395 | |
| Total incoming resources | 90,154 | 85,505 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 15,564 | 15,984 |
| Charitable activities | ||
| Grants to institutions | 55,047 | 68,360 |
| Grants to individuals | 557,012 | 325,936 |
| 612,059 | 394,296 | |
| Support costs | ||
| Management | ||
| Postage and stationery | 2,410 | 26 |
| Trustees' honorarium | 2,100 | 2,100 |
| Sundries | 135 | - |
| Bookkeeping | 2,919 | 2,531 |
| 7,564 | 4,657 | |
| Governance costs | ||
| Accountancy and legal fees | 4,113 | 3,445 |
| Total resources expended | 639,300 | 418,382 |
| Net expenditure before gains and losses | (549,146) | (332,877) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | 178,258 | 567,778 |
| Net (expenditure)/income | (370,888) | 234,901 |
This page does not form part of the statutory financial statements
Page 12