## **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 Iradil*Th. 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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