CHARITY COMMISSION
The Bampton Trust
Registration number: 1061444
Annual Report and Financial Statements
31 December 2022
The Bampton Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' report | 2 |
| Trustees' responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 |
The Bampton Trust
Reference and Administrative Details
| Charity name | The Bampton | Trust |
|---|---|---|
| Charity registration number | 1061444 | |
| Principal office | 2 Croft End | |
| Bampton | ||
| PENRITH | ||
| CA10 2RS | ||
| Registered office | 2 Croft End | |
| Bampton | ||
| PENRITH | ||
| CA10 2RS | ||
| Trustees | T Thompson | (Resigned 1 January 2022) |
| S Bowman | ||
| S Bowness | ||
| K Harmer | (Resigned 21 July 2022) | |
| M Jones | ||
| M Dyke | ||
| D White | ||
| A Cooke | (Appointed 1 January 2022) | |
| (Resigned 21 July 2022) | ||
| G Smith | ||
| A Kitchen | (Appointed 1 June 2022) | |
| P Sweetland | (Appointed 1 September 2022) |
| Accountant | Dodd & Co Limited |
|---|---|
| FIFTEEN Rosehill | |
| Montgomery Way | |
| Rosehill Estate | |
| CARLISLE | |
| CA1 2RW |
Page 1
The Bampton Trust
Trustees' Report for the Year Ended 31 December 2022
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’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.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is an unincorporated body and is governed by its Trust Deed.
The trustees regularly review the structure of the board. If the trustees identify the need to appoint a new trustee, they approach a member of the community with appropriate skills and experience. Existing trustees train new trustees by discussing their role with them and briefing them on the requirements and responsibilities of their new position.
During 2022 one of the long-serving trustees retired. In September 2022 a new trustee was appointed along with a new treasurer and secretary. Mike Jones continues to chair the Board of Trustees.
The trustees have considered the risks facing the charity. They do not believe that there are any significant risks at the moment, but they will continue to monitor the situation on a regular basis. The trustees are conscious of the need to maintain funds for future expenditure on their properties and have decided to set aside 10% of the gross rental income for such purposes.
OBJECTIVES AND ACTIVITIES
The principal objective of the charity is to support and advance charitable activities within Bampton and the Lowther Valley. The charity operates by awarding grants to individuals and groups which it identifies as meeting the charity’s objectives and goals.
The trustees have the discretion to make grants to any worthy causes, within the specified objectives of the charity, in the Lowther Valley.
The trustees continue to provide financial support to young people in the local community who are undertaking courses at university, college or sixth form level.
In setting their objectives, the charity has paid due regard to the Charity Commission guidance on public benefit.
ACHIEVEMENTS AND PERFORMANCE
The charity continues to provide affordable housing at Nos 1 and 2 Bampton Grange and 1 and 2 Essendy. Norbrock House, provides a tea room, shop and bed and breakfast facility. In July 2022 the village Post Office, situated within Norbrock House, closed. The closure was due to the retirement of the sub-postmistress who was observing the training of the tenant at Norbrock House. The tenant therefore ceased to be eligible to operate the Post Office and facilities were withdrawn from the property. The Post Office now provides an outreach service one morning per week, in Bampton Village Hall.
The properties have been fully let throughout the year resulting in full rental income during 2022. Property maintenance remains ahead of the work schedule in the Property Quinquennial report. However, the last 12 months has seen a slowdown in the availability of contractors to commence work. Also, supply chain disruption has impacted on our maintenance work. Further items of reactive maintenance were carried out throughout the year.
In June 2022 the Trust purchased shares in Bampton Valley Community Pub (BVCP) which opened in July 2022 for the benefit of Bampton Valley residents and visitors.
The tenants at Norbrock House gave notice on their tenancy during August 2022. The trustees discussed the current business model at Norbrock House and agreed to explore alternative options. A survey of Bampton Valley residents took place in November 2022 to better understand the local needs. The trustees will use the information gathered from the survey responses to review business model options for the future.
FINANCIAL REVIEW
The bulk of the charity’s assets are held as investment properties. The charity aims to distribute cash reserves as soon as possible to those who can benefit from the activities of the charity.
Page 2
Th8 ¢harity 1ved Idol Ino) d £28.660 ilh ol r27.732 rwjkng in a SWFdu8t of £928. Total s8rves slwd st £1.282276. 7Jl of7Athith 7AWO urwesbth. Fro8 reserves at the yw Ie £1Z3,73& FUTURE PLANS $hall Sup[ intbatives that enhance arKI improve the t¥ty of lif8 and the envTrronment in the ktsl comrnunty 3nd preserve its herrtsge IradilTh. Tlw are at4e to *ionS frcrfn families or Individuals èxp6n"enang hardship. Requests ft)r hardship grants may Irmase as Ihè cost of IT¥irwJ ¢rlsls continue8to makè its math r)n th8 kThl c4)mff1vty. 11 bè subject to a markat apprais81 in 2023 as part UFK18tiry tho QLKfrf4w)nwl Property RewL Approved by tho TrLLStoes on 12 S•ptwrknw 21Y23 èrKI on the1rb&f ty. Trustee
The Bampton Trust
Trustees' Responsibilities in relation to the Financial Statements
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements 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 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 4
Indend9Tht Examlnerfs Report to Iho Trust•es ol The Bampton Trust I report on the accounts ofthe cnarty for the year ended 31 Deeernb•r2022, which Bre sel out on pages 610 15. Your attention is to dravm to the fact that the Charty has prepared the fin8nual statements in aordance with Accounts"ng and Reporting by Chaiibés pr•paring thoir accounts in accordan with the Financial Repon9 Stsndard applicable in tha UK and Republic of Irg18nd IFRS 1021 in preferen to the Accounlng and Repon9 by Charitses.. Statement of Recommended Practi issued on 1 April 2005 whith 1$ rgferred lo in the extant regulations but has sinc6 been 0rawlI. W? understand th8t this hos been done in order for the accounts to provide a tru8 and fair viaw In aceordancè with the Generally Accepted Acuuntiry Practi effecb.ve for reporting pèriods Winning on or after 1 January 2019. R•pè¢b¥• r•¥pon$lbl1lll of trust# and gx•min¢r The Charitys thJstèÈs a responsible for the preparab'on of the accounts. Tha trustè8s considèr that an audrf( is not required for this year under section 144121 of Ihe Charrties Act 2011 (the 2011 Actl and that #n indepond¢nt examinath.on is needed. It is my resporffjibility to.. exarnine th$ a¢¢tsunts under section 145 Gfthe 2011 Ac¢ follow the procedures laNI down in the General Direc&'ons gIn by the Charity Ccffirni$¥ion uThd•r SeCtn 145151 Ibl ol the 2011 Act", and state VIer parbcJJlar matters have Come to my attents". B1¥ of Ind•p•ndent •xamln•rf• report ty 9xaminatn w•$ rried oul in accordance wth the General Dire(aMs given by th• Chanty CommL8sion. An oxamin8tion includ88 a rew8w of the accounting records kept by the charity and a cornparison of Iha account5 presented wrth those records. It also indu¢e$ ¢on$idOTation of 4ny unu¥ual ilerns or disclosures sn the accounts, and seeking explanth.ons from you 88 trustees ¢on¢eming any such matters. The prOaUre$ undertaken do not provide 011 the eviden¢9 thal would be required in an audit and consequentty no opinion is given as to whèthèr Ihe accounts present a Irue and fair vievl and the report is limited to those matters set OLrt In the stat•nI below. Indgp?ndtnt •M•rninerf8 8tstement In ¢onn¢titsn with rny trxamin8tson, no matter has come to my attenbon.. 111 which giv¢$ me reasonable cause to believe that in any material respeetthe requirements.. to keep accounting records in accordancewith seth.on 130 of Chariti•s Ad 2011,. and to prepare acc4)unts which accord wrth the accounting reeords, eomptywith the aeeounting requirements ofth• 2011 Aet have not been mat," or 121 to which, in my opinion, attention shguld be ¢Jrawn in Ofder lo gnable o proper undgrstanding 01 tt accA)unts to bè raached. FIFTEEN Rtssèhill Montgomery Way Rosehill Estate CARLISLE CA12RW ¢an rnlinson F Dodd & Co Limited Charterad Accountants 12 September 2023 Pagè S
The Bampton Trust
Statement of Financial Activities for the Year Ended 31 December 2022
| Note Income and endowments from: Investment income 2 Income from charitable activities 3 Total income Expenditure on: Charitable activities Total expenditure Net incoming/(outgoing) resources before other recognised gains and losses Net movements in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 22,368 6,292 |
Total Funds 2022 £ 22,368 6,292 |
Total Funds 2021 £ 22,361 6,958 |
|---|---|---|---|
| 28,660 | 28,660 | 29,319 | |
| 27,732 | 27,732 | 32,809 | |
| 27,732 | 27,732 | 32,809 | |
| 928 928 1,281,348 |
928 928 1,281,348 |
(3,490) (3,490) 1,284,838 |
|
| 1,282,276 | 1,282,276 | 1,281,348 |
The notes on pages 8 to 15 form an integral part of these financial statements.
Page 6
Flxed asg•ts Tangib[8 assets Investments 72.$81 1.084.678 10 10 1,084.678 1,158.540 1.157,259 Cury•nt as88ts Debtors Cash at bank and in Ptarrfl 11 14.618 111.342 125. 7.179 119,916 127.095 Crodltors: Amounts falllr4 wlthln one >•ar 12 12224) I3.1) 123.736 124.089 N•t *ss•ts 1.282.276 1.281.348 Th• funds ofth• ch¥Sty. Unre•trlct•d fund• Unrestrlcted incornefvnds 1281276 1.281.348 T¢>tal eharttylunds The finanaal Statem ha¥8 k¥PP8rod Fmrnyal R81th"ThJ sdlI apFlicable in the UK 8nd Reput4ic of Irda1 IFRS 11Y2). 1.282,276 1.281.348 pprovgd by ts Prnrd 12 Se•2023 and siffj rffj its bthdfty. £L--- M Jcffles Trustg
The Bampton Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
1 Accounting policies
Statement of compliance
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities:Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Basis of preparation
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
These financial statements have been prepared on a going concern basis.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Further details of each fund are disclosed in note 14.
Income and endowments
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Page 8
The Bampton Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specific service or output.
Grants payable without performance conditions are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold interest in land and buildings 50 years straight line Fixtures, fittings and equipment 15% reducing balance basis
Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Investment properties
Certain of the charity's properties are held for long-term investment and are investment properties as defined by the Statement of Recommended Practice 2019.
No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the statement of financial activities account for the year.
Investment properties were revalued by David Stout MRICS during the year ended 31 December 2018 on behalf of PFK Land Agency. The Board have reviewed the value of the investment properties and consider these to be at fair value.
Page 9
The Bampton Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
2 Investment income
| Other income Rents - No 1 & 2 Bampton Grange Rents - No 1 & 2 Essendy |
Unrestricted Funds £ - 11,088 11,280 |
Total Funds 2022 £ - 11,088 11,280 |
Total Funds 2021 £ 150 11,006 11,205 |
|---|---|---|---|
| 22,368 | 22,368 | 22,361 |
All of the investment income in 2021 related to unrestricted funds.
3 Income from charitable activities
| Charitable activities Rents - Norbrock House |
Unrestricted Funds £ 6,292 |
Total Funds 2022 £ 6,292 |
Total Funds 2021 £ 6,958 |
|---|---|---|---|
All of the income from charitable activities in 2021 related to unrestricted funds.
Page 10
The Bampton Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
4 Expenditure
| Direct costs Grants payable - individuals Insurance Depreciation Repairs and maintenance General maintenance Sundry expenses Legal and professional fees Support costs Accountancy fees Independent examiner's fee |
Charitable activities £ 470 2,751 3,719 13,794 3,888 733 928 |
Total 2022 £ 470 2,751 3,719 13,794 3,888 733 928 |
Total 2021 £ 2,800 2,192 4,150 18,140 3,553 511 300 |
|---|---|---|---|
| 26,283 | 26,283 | 31,646 | |
| 1,129 320 |
1,129 320 |
843 320 |
|
| 1,449 | 1,449 | 1,163 | |
| 27,732 | 27,732 | 32,809 |
All of the expenditure in 2021 related to unrestricted funds.
5 Governance costs
| Cost of trustee meetings Accountancy fees Independent examiner's fee Legal and professional fees |
2022 £ 60 1,129 320 928 2,437 |
2021 £ 16 843 320 300 |
|---|---|---|
| 1,479 |
6 Trustees' remuneration and expenses
No trustees received any remuneration or expenses during the year.
Page 11
The Bampton Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
7 Net incoming/(outgoing) resources
Net incoming/(outgoing) resources is stated after charging:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Depreciation of owned assets | 3,719 | 4,150 |
| Accountancy fees | 1,129 | 843 |
| Independent examiner's fee | 320 | 320 |
8 Taxation
The registered charity is exempt from taxation on income and gains.
Page 12
The Bampton Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
9 Tangible fixed assets
| Freehold interest in land and buildings (including heritage assets) £ Cost As at 1 January 2022 and 31 December 2022 64,000 Depreciation As at 1 January 2022 7,680 Charge for the year 1,280 As at 31 December 2022 8,960 Net book value As at 31 December 2022 55,040 As at 31 December 2021 56,320 |
Fixtures, fittings and equipment £ 119,726 103,465 2,439 105,904 13,822 16,261 |
Total £ 183,726 111,145 3,719 114,864 68,862 72,581 |
|---|---|---|
10 Investments held as fixed assets
| Market value/Cost As at 1 January 2022 Additions As at 31 December 2022 Net book value As at 31 December 2022 As at 31 December 2021 All investment assets were held in the UK. The net book value of programme related investments includes: Shares in The Mardale Inn, Bampton Valley |
Investment properties at market value £ 1,084,678 - 1,084,678 1,084,678 1,084,678 2022 £ 5,000 |
Mixed motive investments at cost £ - 5,000 |
|---|---|---|
| 5,000 | ||
| 5,000 | ||
| - | ||
| 2021 £ - |
Page 13
The Bampton Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
11 Debtors
Prepayments and accrued income
12 Creditors: Amounts falling due within one year
Accruals and deferred income
| 2022 £ 14,618 2022 £ 2,224 |
2021 £ 7,179 |
|---|---|
| 2021 £ 3,006 |
13 Related parties
Controlling entity
The charity is controlled by the trustees.
14 Analysis of funds
| At 31 | ||||
|---|---|---|---|---|
| At 1 January | Incoming | Resources | December | |
| 2022 | resources | expended | 2022 | |
| £ | £ | £ | £ | |
| General Funds | ||||
| Unrestricted income fund | 1,281,348 | 28,660 | (27,732) | 1,282,276 |
Page 14
The Bampton Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
Prior period
| At 1 January 2021 |
Incoming resources |
Resources expended |
Other recognised gains / losses |
At 31 December 2021 |
||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| General Funds | ||||||
| Unrestricted income fund | 1,284,838 | 29,319 | (32,809) | - | 1,281,348 |
15 Net assets by fund
| Tangible assets Investments Current assets Creditors: Amounts falling due within one year Net assets Prior period Tangible assets Investments Current assets Creditors: Amounts falling due within one year Net assets |
Unrestricted Funds £ 68,862 1,089,678 125,960 (2,224) 1,282,276 Unrestricted Funds £ 72,581 1,084,678 127,095 (3,006) 1,281,348 |
Total Funds 2022 £ 68,862 1,089,678 125,960 (2,224) 1,282,276 Total Funds 2021 £ 72,581 1,084,678 127,095 (3,006) 1,281,348 |
Total Funds 2021 £ 72,581 1,084,678 127,095 (3,006) 1,281,348 Total Funds 2020 £ 76,731 1,084,678 125,937 (2,508) |
|||
|---|---|---|---|---|---|---|
| 1,284,838 |
Page 15