The Bristol Initiative Charitable Trust (1996)
Trustees’ Annual Report and Accounts
31 December 2022 Charity registration number: 1059430
The Bristol Initiative Charitable Trust (1996)
REFERENCE & ADMINISTRATIVE DETAILS
NAME OF CHARITY
The Bristol Initiative Charitable Trust (1996)
CHARITY NUMBER
1059430
PRINCIPAL ADDRESS
Leigh Court Abbots Leigh Bristol BS8 3RA
TRUSTEES
J Savage - Chair J Bianchi J Durie (resigned 31 March 2023) L Gardner P Smith
ACCOUNTANTS
Moore 30 Gay Street Bath BA1 2PA
BANKERS
NatWest Clifton Bristol BS8 1BF
SOLICITORS
Ashfords Tower Wharf Cheese Lane Bristol BS2 0JJ
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
TRUSTEES’ REPORT for the year ended 31 December 2022
The trustees present their annual report together with the financial statements for the year ended 31 December 2022.
The financial statements comply with the charity’s trust deed, applicable law and requirements of the Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Charities SORP (FRS 102), (effective 1 January 2019).
STRUCTURE GOVERNANCE AND MANAGEMENT
PRINCIPAL ACTIVITIES
The Trust was established, by deed, on 11 November 1996 to raise and apply funds for the general benefit of the inhabitants of the Greater Bristol region and for providing them with facilities for their recreation and leisure, subject to their meeting the requirements of the Recreational Charities Act. The Trust continues the activities formerly carried out by The Bristol Initiative Trust albeit with a wider remit. The net assets of The Bristol Initiative Trust were donated to this new charity on 31 December 1996.
ORGANISATION
A board of trustees of up to twelve members, but no less than four administer the affairs of the charity. The Trustees meet as required, but at least once a year.
STATUS
The Trust was registered with the Charities Commission on 26 November 1996.
TRUSTEES
The Trustees at 31 December 2022 were as set out on page 2.
New trustees may be appointed at any time by a resolution of a meeting of the Trustees unanimously passed but so that the total number of Trustees shall at no time exceed twelve or be less than four. Trustees are usually recruited as a first choice from the Bristol Initiative, a group of over 250 members. Existing trustees decide who should be invited to join the board of Trustees.
RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure to the major risks.
PUBLIC BENEFIT
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity, by undertaking the activities noted above.
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
OBJECTIVES AND ACTIVITIES
The Trust aims to raise and apply funds for the benefit of the inhabitants of the Greater Bristol region for any charitable purposes that the Trustees think fit. In particular, the Trust may raise and apply funds for the advancement of education, the protection of health, the relief of poverty, distress and sickness, the promotion of the arts and the protection of the environment and its conservation.
ACHIEVEMENTS AND PERFORMANCE
REVIEW OF THE YEAR
Projects aimed at Education and Skills have continued throughout 2022, which have been funded by restricted donations.
The BeOnBoard project commenced in 2018. The aim is to increase the diversity of organisations’ Boards through both training and identifying suitable candidates.
During the year BeOnBoard delivered the National Lottery funded Aspire project to enhance the work of increasing the diversity of organisation’s Boards, specifically in the Voluntary, Community and Social Enterprise (VCSE) sector.
FINANCIAL REVIEW
RESULTS
The loss for the year ended 31 December 2022 was £45,118 compared with a surplus of £47,860 for the year ended 31 December 2021.
RESERVES POLICY
The trustees have reviewed the reserves of the charity. A policy has been set which reflects the wish to safely commit as much as possible to the objectives of the Trust Deed whilst retaining financial stability. The Unrestricted Reserves are £4,434 at 31 December 2022, which is in line with the Trustees previous wishes to increase the level of Unrestricted Reserves as the turnover of the Charity has increased. A minimum reserve of £2,000 will be retained whilst activity continues at an increased level.
PLANS FOR FUTURE PERIODS
Two main areas of activity will continue in 2023 with some funding already secured and other being sought and looking likely. Firstly the BeOnBoard programme established in 2018 will continue to support business and organisations to improve diversity on their boards through training and matching support. Secondly a range of education and skills projects are planned to be delivered bringing business and industry to work with local schools and with activity focused around engineering and in particular aviation and maritime industries. These utilise key events and the history of the city with programmes delivered at the Bristol Harbour Festival and on Windrush Day.
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
STATEMENT OF TRUSTEES’ RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS
The Trustees are required to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the income and expenditure of the Charity for that period. In preparing those accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees have agreed to appoint Moore Accountants to undertake an Independent Examination of the Accounts.
On behalf of the trustees:
12 September 2023 Dr John Savage CBE
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRISTOL INITIATIVE CHARITABLE TRUST (1996)
Independent examiner's report to the trustees of The Bristol Initiative Charitable Trust (1996)
I report to the charity trustees on my examination of the accounts of The Bristol Initiative Charitable Trust (the Trust) for the year ended 31 December 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Mark Powell Moore 30 Gay Street Bath BA1 2PA
Date: 14 September 2023
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2022
| Note Income: Charitable activities Donations and Legacies 2 Other activities Investment Income 3 Total Income Expenditure: Charitable activities 4 Other 5 Total Net income / (expenditure) Transfers between funds Net movement in funds Reconciliation of Funds: Fund balances brought forward Fund balances carried forward |
Unrestricted Funds Restricted Funds Total Funds 2022 £ £ £ - - - - 50,858 50,858 1,000 - 1,000 133 - 133 |
Prior period total funds 2021 £ - 136,915 1,000 8 |
|---|---|---|
| 1,133 50,858 51,991 |
137,923 | |
| - 96,529 96,529 580 - 580 |
84,625 5,438 |
|
| 580 96,529 97,109 |
90,063 | |
| 553 (45,671) (45,118) |
47,860 | |
| - - - |
- | |
| 553 (45,671) (45,118) |
47,860 | |
| 3,881 80,232 84,113 4,434 34,561 38,995 |
36,253 84,113 |
CONTINUING OPERATIONS
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Accounts 2022
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The Bristol Initiative Charitable Trust (1996)
BALANCE SHEET at 31 December 2022
| Note CURRENT ASSETS Debtors 6 Cash at bank CREDITORS: amounts falling due within one year 7 NET CURRENT ASSETS THE FUNDS OF THE CHARITY Unrestricted fund Restricted fund |
2022 £ 1,500 42,186 43,686 (4,691) ** 38,995 4,434 34,561 38,995** |
2021 £ 21,400 75,961 |
|---|---|---|
| 97,361 (13,248) |
||
| 84,113 | ||
| 3,881 80,232 |
||
| 84,113 |
These financial statements were approved by the Board of Trustees and authorised for issue on 12[th] September 2023 and were signed on its behalf by:
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P Smith _ ___ Trustee
Dr John Savage CBE Trustee
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
NOTES TO THE ACCOUNTS as at 31 December 2022
1 ACCOUNTING POLICIES
The charity is registered charity in England and Wales and is unincorporated. The address of the principal office is Leigh Court, Abbots Leigh, Bristol, BS8 3RA.
Basis of preparation
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.
Disclosure exemptions
The charity does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
Incoming Resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources Expended
All expenditure is included on an accruals basis when there is a legal or constructive obligation to pay for the expenditure. All costs are directly attributed to one of the functional categories expended in the SOFA. The Trust is not registered for VAT and accordingly all expenditure is shown gross of irrecoverable VAT.
Taxation
The trust is a registered charity and accordingly is exempt from taxation on income and gains where they are applied for charitable purposes.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
Going concern
There are no material uncertainties about the charity's ability to continue.
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
NOTES TO THE ACCOUNTS as at 31 December 2022
2 CHARITABLE ACTIVITIES
| Unrest | Total | Total | |||||
|---|---|---|---|---|---|---|---|
| Donations receivable | ricted | Restricted funds | |||||
| Fund | 2022 | 2021 | |||||
| Shipping 2050 |
Be On Board |
Young Shipwrig hts |
Other | ||||
| £ | £ | £ | £ | £ | £ | £ | |
| Royal Academy of Engineers | - | 10,000 | - | - | - | 10,000 | 10,000 |
| Penny Brohn | - | - | 9,500 | - | - | 9,500 | 10,500 |
| Quartet | - | - | 5,000 | - | - | 5,000 | - |
| Ogden Trust | - | 3,000 | - | - | - | 3,000 | - |
| 3SG | - | - | 2,150 | - | - | 2,150 | 2,150 |
| Wessex Water | - | - | - | 200 | - | 200 | - |
| Bristol Care Homes | - | - | - | - | 3,000 | 3,000 | 3,000 |
| Van Neste Foundation | - | - | - | - | - | - | 16,847 |
| Society of Merchant Venturers | - | - | - | - | - | - | 5,000 |
| National Lottery Fund | - | - | - | - | - | - | 48,984 |
| BBRC | - | - | - | - | - | - | 7,650 |
| UWE | - | - | - | - | - | - | 5,000 |
| Creative Youth Network | - | - | - | - | - | - | 4,000 |
| Other | - | - | 18,008 | - | - | 18,008 | 23,784 |
| - | 13,000 |
34,658 | 200 | 3,000 | 50,858 | 136,915 |
3 INVESTMENT INCOME
Bank interest
| 2022 | 2021 |
|---|---|
| £ | £ |
| 133 | 8 |
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
NOTES TO THE ACCOUNTS as at 31 December 2022
| 4 CHARITABLE ACTIVITIES Donations payable BeOnBoard Van Neste 2020 Van Neste 2021 Penny Brohn BBRC National Lottery Fund - Aspire Society of Merchant Venturers 3SG Ingenious Award - Shipping 2050 Build My Future Young Shipwrights Aircraft Carrier Event WOW Physics Ogden Trust Bristol Care Homes Weston College Card Game Other 5 OTHER COSTS Accountancy – Independent Examination Project Costs – Bristol Chaplaincy |
2022 £ 17,069 - 2,126 14,267 - 41,341 3,720 2,537 9,848 - 200 - 1,880 3,000 350 191 - 96,529 2022 £ 580 - 580 |
2021 £ 31,757 5,518 14,721 5,640 7,474 7,643 1,000 1,763 2,149 500 1,140 1,000 1,320 3,000 - - - |
||
|---|---|---|---|---|
| 84,625 | ||||
| 2021 £ 540 4,898 |
||||
| 5,438 |
Trustees received no remuneration (2021 - £nil) and were not reimbursed for any of their expenses in the year (2021 - £nil).
6 DEBTORS
| Debtors | 2022 £ 1,500 1,500 |
2021 £ 21,400 |
|---|---|---|
| 21,400 |
Debtors represent donations requested but not paid at 31 December. All Debtors have been received by 31 March 2023
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Accounts 2022
The Bristol Initiative Charitable Trust (1996)
NOTES TO THE ACCOUNTS as at 31 December 2022
7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accrued Project costs Accrued Accountancy Costs |
2022 £ 4,111 580 4,691 |
2021 £ 12,708 540 |
|---|---|---|
| 13,248 |
8 RECONCILIATION OF FUNDS AND STATEMENT OF MOVEMENT ON RESERVES
| RESERVES | |
|---|---|
| Unrestricted Fund BeOnBoard Penny Brohn BBRC National Lottery Fund Society of Merchant Venturers Van Neste 2020 Van Neste 2021 Quartet 3SG Weston College Ingenious Award - Shipping 2050 Build My Future Young Shipwrights Aircraft Carrier Event Card Game Aviation Airports WOW Physics Ogden Trust Bristol Chaplaincy Bristol Care Homes Other Total 2022 Total 2021 |
Balance at 1 January 2022 Income Expenditure Surplus / (Deficit) in year Balance at 31 December 2022 £ £ £ £ £ 3,881 1,133 (580) 553 4,434 11,183 17,108 (17,069) 39 11,222 4,860 9,500 (14,267) (4,767) 93 176 - - - 176 41,341 - (41,341) (41,341) - 4,000 - (3,720) (3,720) 280 0 - - - 0 2,126 - (2,126) (2,126) - - 5,000 - 5,000 5,000 387 2,150 (2,537) (387) (0) 900 (350) 550 550 8,176 10,000 (9,848) 152 8,328 912 - - - 912 200 200 (200) - 200 - - - - - 191 - (191) (191) - 5,000 - - - 5,000 1,680 3,000 (1,880) 1,120 2,800 - - - - 3,000 (3,000) - - - - - - |
| 84,113 51,991 (97,109) (45,118) 38,995 |
|
| 36,253 137,923 (90,063) 47,860 84,113 |
9 RELATED PARTY TRANSACTIONS
There have been no Related Party transactions in the year
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Accounts 2022