**Charity Registration No. 1026111** ## **THE BERNADETTE CHARITABLE TRUST** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023** 1 ## **THE BERNADETTE CHARITABLE TRUST** ## **CONTENTS** |Legal & administrative details|3| |---|---| |Trustees' report|4| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7| |Notes to the financial statements|8-12| 2 ## **THE BERNADETTE CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** **Trustees** Mrs E O'Hea Mr J O'Hea Mr S O'Hea **Charity number** 1026111 **Registered office** 26 Lavant Road Chichester West Sussex PO19 5RG **Independent examiner** Harrison Hill Castle & Co Melbury House 34 Southborough Road Bickley, Kent BR1 2EB 3 ## **THE BERNADETTE CHARITABLE TRUST** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 5 APRIL 2023**_ The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. 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** The object of the charity is to derive income from its capital investments which is then expended by way of charitable donations. The Trust supports general charitable purposes and only causes known to trustees are considered. The Trust does not respond to unsolicited applications and does not make grants to individuals. ## **Public benefit** The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** ## **Financial review & position** The results for the year are shown in the Statement of Financial Activities on Page 6 and the Balance Sheet on page 7. During the financial year £89,500 (2022: £53,500) of donations were made to 29 (2022: 25) different charities. ## **Reserves Policy** The policy of the trustees is that income received from investments of the charity will be spent in the year received. It is their intention to retain reserves at their current level (adjusted if necessary for inflation) in order to maintain a regular income to be used for charitable purposes as set out in the trust deed. ## **Investment policy and objectives** There are no restrictions on the charity's power to invest. The quoted investments are managed by an investment manager and the instructions are to invest the money in medium risk investments that guarantee a reasonable income stream at the same time as retaining the current capital value. ## **Structure, governance and management Governing document** The charity is controlled by its governing document, a deed of trust dated 4 August 1993 and constitutes an unincorporated charity. ## **Trustees** Mrs E O'Hea Mr J O'Hea Mr S O'Hea ## **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 assurance against fraud and error. ## **Organisational structure** The charity has no employees and is administered by the trustees on a voluntary basis. The trustees' report was approved by the Board of trustees'. Mr J O'Hea Trustee 14 December 2023 4 ## **THE BERNADETTE CHARITABLE TRUST** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BERNADETTE CHARITABLE TRUST** ## **Independent examiner's report to the trustees of The Bernadette Charitable Trust** I report to the charity trustees on my examination of the accounts of The Bernadette Charitable Trust (the Trust) for the year ended 5 April 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable 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 that in any material respect: 1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or 2 the financial statements do not accord with those records; or 3 the financial statements 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 financial statements to be reached. Paul Castle FCA Harrison Hill Castle & Co Melbury House 34 Southborough Road Bickley Kent BR1 2EB 14 December 2023 5 ## **THE BERNADETTE CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## _**FOR THE YEAR ENDED 5 APRIL 2023**_ **----- Start of picture text -----**
2023 2022
Notes £ £
Income from Investments 3 45,729 35,479
Expenditure on raising funds 4 (11,235) (11,943)
34,494 23,536
Expenditure on charitable activities 5 (91,248) (55,030)
(56,754) (31,494)
Net gains/(losses) on investments 10 (76,343) 56,411
Net Income for the year (133,097) 24,917
Fund balance at 6 April 2022 1,214,195 1,189,278
Fund balance at 5 April 2023 1,081,098 1,214,195
**----- End of picture text -----**
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities All funds are unrestricted 6 ## **THE BERNADETTE CHARITABLE TRUST** ## **BALANCE SHEET** ## _**AS AT 5 APRIL 2023**_ **----- Start of picture text -----**
2023 2022
Notes £ £ £ £
Fixed assets
Investments 9 1,033,358 1,128,700
Currents assets
Cash at bank and in hand 49,127 86,913
Creditors: amounts falling due
within one year 11 (1,387) (1,418)
Net current assets 47,740 85,495
Total assets less current liabilities 1,081,098 1,214,195
Income funds
Unrestricted funds 1,081,098 1,214,195
1,081,098 1,214,195
**----- End of picture text -----**
The financial statements were approved by the Trustees on 14 December 2023 and are signed on its behalf by: Mr J O'Hea **Trustee** 7 ## **THE BERNADETTE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 5 APRIL 2023**_ ## **1 Accounting policies** ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Trust's governing document, the Charities Act 2011 and "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)". The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. 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. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees' have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees' continue to adopt the going concern basis of accounting in preparing the financial statements. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the Trusts ability to continue as a going concern. For example, the extent of the impact of coronavirus is unclear and it is difficult to evaluate all the potential implications on the Trusts activities ## **1.3 Charitable funds** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. . Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **1.4 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 8 ## **THE BERNADETTE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2023**_ ## **1.5 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.The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. ## **1.6 Taxation** The charity is exempt from tax on its charitable activities. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **2 Critical accounting estimates and judgements** In the application of the Trust’s accounting policies, the charity trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |**3**
**Income from Investments**
Income from listed investments
Interest receivable|**2023**
**£**
45,675
54
45,729|**2022**
**£**
35,468
11
35,479| |---|---|---| 9 ## **THE BERNADETTE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2023**_ **----- Start of picture text -----**
4 Expenditure on Raising funds
2023 2022
£ £
Investment management 11,235 11,943
11,235 11,943
5 Expenditure on Charitable activities
2023 2022
Donations in year; £ £
Afghanaid 5,000 10,000
British Heart Foundation 1,000 1,000
CAFOD 4,000 2,000
Chichester Festival Theatre 1,000 -
Children on the Edge 1,000 -
Crohn's and Colitis UK 500 500
DEC Appeal Pakistan Floods 5,000 -
DEC Appeal Turkey - Syria Earthquake 10,000 -
DEC Appeal Ukraine - 5,000
Dementia Support 500 -
Embrace the Middle East 2,000 4,000
Freedom from Torture 500 500
Gatwick Detainees Welfare Group 1,000 1,000
Jesuit Missions 1,000 1,000
Jesuit Refugee Service 1,000 2,000
Jubilee Sailing Trust 500 500
Mary's Meals 1,000 1,000
Medecins Sans Frontieres 12,000 10,000
Medical Aid for Palestinians 2,000 4,000
NASS 3,000 1,000
Practical Action 1,000 1,000
Rowans Hospice 500 500
Saints of Sussex RC Church 20,000 1,000
Sanctuary in Chichester 1,000 -
Scleroderma & Raynaud's UK 500 500
St John of Jerusalem Eye Hospital 2,000 2,000
St Wilfrid's Hospice 500 1,000
Stonepillow 1,000 1,000
The Friends of Arundel Cathedral - 1,000
The Medaille Trust - 1,000
UNHCR (Ukraine Appeal) 10,000 -
Unicef (Syria Appeal) - 1,000
Versus Arthritis 1,000 -
89,500 53,500
Support & governance costs 1,748 1,530
91,248 55,030
**----- End of picture text -----**
10 ## **THE BERNADETTE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2023**_ - **6 Support & governance costs** |Independent examiner's fees
Other professional fees
Bank charges|**2023**
**£**
1,313
254
181
1,748|**2022**
**£**
1,418
-
112
1,530| |---|---|---| ## **7 Charity Trustees** None of the trustees' (or any person connected with them) received any remuneration or benefits from the Trust during the year. ## **8 Employees** There were no employees during the year. - **9 Fixed asset investments** |**Cost or valuation**
At 6 April 2022
Additions
Valuation changes
Disposals
**Carrying amount**
At 5 April 2023
At 5 April 2022|**Listed**
**Unlisted**
**Total**
**investments investments**
**£**
**£**
**£**
1,128,700
-
1,128,700
60,745
-
60,745
(72,799)
-
(72,799)
(83,288)
-
(83,288)
1,033,358
-
1,033,358
1,033,358
-
1,033,358
1,128,700
-
1,128,700| |---|---| ## **10 Net gains/(losses) on investments** |Gains/(losses) on sales/Valuation changes|**Unrestricted** Unrestricted
**funds**
funds
**2023**
**2022**
**£**
**£**
(76,343)
56,411| |---|---| ||(76,343)
56,411| 11 ## **THE BERNADETTE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2023**_ |**11**
**Creditors: amounts falling due within one year**
Accruals and deferred income
**12**
**Related party transactions**|**2023**
**£**
1,378|**2022**
**£**
1,418| |---|---|---| There were no related party transactions during the year. 12