CHARITY REGISTRATION NUMBER: 1086153
The Barratt Family Charitable Trust Unaudited financial statements
5 April 2022
The Barratt Family Charitable Trust
Financial statements
Year ended 5 April 2022
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
The Barratt Family Charitable Trust
Trustees' annual report
Year ended 5 April 2022
The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 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 published in October 2019.
Reference and administrative details
Registered charity name The Barratt Family Charitable Trust Charity registration number 1086153 Principal office Ollands Farm Heydon Norwich NR11 6RB
The trustees
The trustees who served during the year and at the date of approval were as follows:
Mr C W L Barratt Mr W J Barratt Mrs C Barratt Mr S C L Barratt Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
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The Barratt Family Charitable Trust
Trustees' annual report (continued)
Year ended 5 April 2022
Objectives and activities
The objects of the charity are, for the benefit of the public, to support such charitable purposes as the trustees shall in their absolute discretion see fit. In particular, distributions will be made to registered charities (with a strong bias to Norfolk) that the Barratt family know of and would like to support.
Grant-making policy
The trustees meet when required to consider and approve expenditure in accordance with the object of the Charity.
Public benefit
The trustees have had due regard to the Charity Commission's guidance on public benefit.
Achievements and performance
During the year the Trustees made charitable grants of £43,000 (2021: £17,500).
Financial review
Unrestricted fund income totalled £44,131 (2021: £27,138). After making grants totalling £43,000 (2021: £17,500) and incurring administration costs of £1,855 (2021: £1,856) net expenditure for the year before investment gains/losses amounted to £724 (as shown on page 6) (2021: net income of £7,782). After gains on investments of £106,429 (2021: gains £243,927) the net income for the year was £105,705 (2021: net income £251,709).
Reserves policy
At the year end the charity had free reserves of £9,838 (2021: £11,463), with a further £1,298,560 (2021: £1,191,230) held in its investment portfolio. The trustees will aim to build up income to make major donations when applicable, but all income will be distributed as and when appropriate.
Investment policy
The trustees will invest the charity's surplus funds in quality equities for long term rising income.
Plans for future periods
The charity will continue to make grants in accordance with its objectives.
Trustees
Members of the board of trustees who served during the period and up to the date of this report are set out on page 1. All trustees held office throughout the period.
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The Barratt Family Charitable Trust
Trustees' annual report (continued)
Year ended 5 April 2022
Structure, governance and management
Governing document
The Barratt Family Charitable Trust was established under a Declaration of Trust dated 17 December 2000, as amended on 17 October 2018. The Trust was registered with the Charity Commission (registration no 1086153) on 12 April 2001.
Recruitment and appointment of trustees
In accordance with the Declaration of Trust, any future trustees must be appointed by resolution of the Trustees. The minimum number of trustees is three.
Induction and training of trustees
All new trustees will be provided with copies of:
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The Charity's Trust Deed
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The latest accounts of the Charity
New trustees are encourage to read the Charity Commission guidance notes The Essential Trustee - "What you need to know, what you need to do".
In addition, trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
Risk management
The trustees consider that there are no major strategic or business risks which would affect the ongoing operation of the Charity.
Organisational structure
The trustees administer the charity, and meet twice a year to consider the applications received for funding and to authorise payment of the grants approved.
True and Fair override
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 by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Independent examiner
Mark Proctor FCA DChA was appointed as independent examiner during the year and will be reappointed for the ensuing year.
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The Barratt Family Charitable Trust
Trustees' annual report (continued)
Year ended 5 April 2022
The trustees' annual report was approved on 14 September 2022 and signed on behalf of the board of trustees by:
Mr C W L Barratt Trustee
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The Barratt Family Charitable Trust
Independent examiner's report to the trustees of The Barratt Family Charitable Trust
Year ended 5 April 2022
I report to the charity trustees on my examination of the financial statements of the charity for the year ended 5 April 2022 which comprise the statement of financial activities, statement of financial position and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the 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 charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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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.
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The Barratt Family Charitable Trust
Independent examiner's report to the trustees of The Barratt Family Charitable
Trust (continued)
Year ended 5 April 2022
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.
Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
Mark Proctor FCA DChA Independent Examiner
Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
21 September 2022
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The Barratt Family Charitable Trust
Statement of financial activities
Year ended 5 April 2022
| 2022 | 2022 | 2021 | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Total funds | Total funds | |||
| Note | £ | £ | £ | ||
| Income and endowments | |||||
| Investment income | 4 | 44,131 | 44,131 | 27,138 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Total income | 44,131 | 44,131 | 27,138 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| Expenditure | |||||
| Charitable activities | 5 | (44,855) | (44,855) | (19,356) | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||
| Total expenditure | (44,855) | (44,855) | (19,356) | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| Net income and net movements in funds before gains and | |||||
| losses on investments | (724) | (724) | 7,782 | ||
| Net gains on investments | 6 | 106,429 | 106,429 | 243,927 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net income and net movement in funds | 105,705 | 105,705 | 251,709 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Reconciliation of funds | |||||
| Total funds brought forward | 1,202,693 | 1,202,693 | 950,984 | ||
| ৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | |||
| Total funds carried forward | 1,308,398 | 1,308,398 | 1,202,693 | ||
| ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 13 form part of these financial statements.
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The Barratt Family Charitable Trust
Statement of financial position
5 April 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Investments | 10 | 1,298,560 | 1,191,230 | |||
| Current assets | ||||||
| Debtors | 11 | 1,094 | 1,891 | |||
| Cash at bank and in hand | 10,652 | 11,426 | ||||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||||
| 11,746 | 13,317 | |||||
| Creditors: Amounts falling due within | ||||||
| one year | 12 | (1,908) | (1,854) | |||
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |||||
| Net current assets | 9,838 | 11,463 | ||||
| ৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | |||||
| Total assets less current liabilities | 1,308,398 | 1,202,693 | ||||
| ৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | |||||
| Net assets | 1,308,398 | 1,202,693 | ||||
| ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | |||||
| Funds of the charity | ||||||
| Unrestricted funds | 1,308,398 | 1,202,693 | ||||
| ৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | |||||
| Total charity funds | 13 | 1,308,398 | 1,202,693 | |||
| ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 14 September 2022, and are signed on behalf of the board by:
Mr C W L Barratt Trustee
The notes on pages 9 to 13 form part of these financial statements.
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The Barratt Family Charitable Trust
Notes to the financial statements
Year ended 5 April 2022
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Ollands Farm, Heydon, Norwich, NR11 6RB.
2. Statement of compliance
The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The 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 the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity constitutes a public benefit entity as defined by FRS 102.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £.
Going concern
There are no material uncertainties about the charity's ability to continue.
The trustees have considered the impact of Covid-19 in making this assessment.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
investment income is included when receivable
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The Barratt Family Charitable Trust
Notes to the financial statements (continued)
Year ended 5 April 2022
3. Accounting policies (continued)
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Income from listed investments | 44,131 | 44,131 | 27,138 | 27,138 |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |
| Expenditure on charitable activities by activity type | ||||
| Grant funding | Total funds | Total fund | ||
| of activities | Support costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Grants paid (note 16) | 43,000 | – | 43,000 | 17,500 |
| Bank charges | – | 1 | 1 | 2 |
| Governance costs | – | 1,854 | 1,854 | 1,854 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 43,000 | 1,855 | 44,855 | 19,356 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |
| Analysis of governance costs: | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Independent examination fees | 1,854 | 1,854 | 1,854 | 1,854 |
| ৶৶৶৶৶৶ | ৶৶৶৶৶৶ | ৶৶৶৶৶৶ | ৶৶৶৶৶৶ |
5. Expenditure on charitable activities by activity type
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The Barratt Family Charitable Trust
Notes to the financial statements (continued)
Year ended 5 April 2022
6. Net gains on investments
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Gains/(losses) on other investment | ||||
| assets | 106,429 | 106,429 | 243,927 | 243,927 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Independent examination fees | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 1,854 ৶৶৶৶৶৶ |
1,854 ৶৶৶৶৶৶ |
7. Independent examination fees
8. Staff costs
No salaries or wages have been paid to employees during the year (2021: £Nil).
9. Trustee remuneration and expenses
No salaries or wages have been paid to the Trustees during the year (2021: £Nil).
10. Investments
| Cash or cash | Listed | ||
|---|---|---|---|
| equivalents | investments | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 6 April 2021 | 5,805 | 1,185,425 | 1,191,230 |
| Additions | – | 190,761 | 190,761 |
| Disposals | – | (192,179) | (192,179) |
| Other movements | 2,319 | 106,429 | 108,748 |
| ৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | |
| At 5 April 2022 | 8,124 | 1,290,436 | 1,298,560 |
| ৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | |
| Impairment | |||
| At 6 April 2021 and 5 April 2022 | – | ||
| ৶৶৶৶৶৶৶৶৶৶৶ | |||
| Carrying amount | |||
| At 5 April 2022 | 8,124 | 1,290,436 | 1,298,560 |
| ৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | |
| At 5 April 2021 | 5,805 | 1,185,425 | 1,191,230 |
| ৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ |
All investments shown above are held at valuation.
Financial assets held at fair value
The fair value of listed investments is determined by reference to the quoted price for these assets in an active market at the balance sheet date.
11. Debtors
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Other debtors | 1,094 | 1,891 |
| ৶৶৶৶৶৶ | ৶৶৶৶৶৶ |
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The Barratt Family Charitable Trust
Notes to the financial statements (continued)
Year ended 5 April 2022
12. Creditors: Amounts falling due within one year
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals and deferred income | 1,908 | 1,854 | |||
| ৶৶৶৶৶৶ | ৶৶৶৶৶৶ | ||||
| Analysis of charitable funds | |||||
| Unrestricted funds | |||||
| Gains and | At | ||||
| At 6 | April 2021 | Income | Expenditure | losses | 5 April 2022 |
| £ | £ | £ | £ | £ | |
| General funds | 1,202,693 | 44,131 | (44,855) | 106,429 | 1,308,398 |
| ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | |
| Gains and | |||||
| At 6 | April 2020 | Income | Expenditure | losses At 5 April 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 950,984 | 27,138 | (19,356) | 243,927 | 1,202,693 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | |
| Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2022 | ||||
| £ | £ | ||||
| Investments | 1,298,560 | 1,298,560 | |||
| Current assets | 11,746 | 11,746 | |||
| Creditors less than 1 year | (1,908) | (1,908) | |||
| ৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | ||||
| Net assets | 1,308,398 | 1,308,398 | |||
| ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2021 | ||||
| £ | £ | ||||
| Investments | 1,191,230 | 1,191,230 | |||
| Current assets | 13,317 | 13,317 | |||
| Creditors less than 1 year | (1,854) | (1,854) | |||
| ৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄ | ||||
| Net assets | 1,202,693 | 1,202,693 | |||
| ৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶ |
13. Analysis of charitable funds
14. Analysis of net assets between funds
15. Related parties
There were no related party transactions during the year or previous year.
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The Barratt Family Charitable Trust
Notes to the financial statements (continued)
Year ended 5 April 2022
16. Grants
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| East Anglian Air Ambulance | – | 2,500 |
| Matthew Project | 1,000 | 1,500 |
| Time Norfolk | – | 1,000 |
| Yana | 1,500 | 500 |
| Hebron Trust | – | 2,000 |
| Starlight | 500 | 500 |
| Essex and Hertfordshire A.A | – | 1,000 |
| Age Concern North Norfolk | – | 500 |
| School Readers | 2,000 | 1,000 |
| Heritage House | – | 500 |
| Nansa Scope | – | 2,000 |
| Theatre Royal | – | 1,000 |
| NCF Laptop Appeal | – | 1,000 |
| Childhood First | 1,000 | 1,000 |
| Buckingham Emergency Food Appeal | 1,000 | 1,000 |
| Country Trust | – | 500 |
| Holt Youth Project | 1,000 | – |
| Aylsham and District Care Trust | 1,000 | – |
| Connects & Co | 1,000 | – |
| St. Martin's Housing Trust | 2,000 | – |
| Norfolk Churches Trust | 1,000 | – |
| Community Chapliancy | 1,000 | – |
| Break | 1,000 | – |
| Build | 1,000 | – |
| Musical Keys | 1,000 | – |
| Norwich Samaritans | 1,500 | – |
| Norfolk Family Care | 1,000 | – |
| St. Eds | 2,000 | – |
| Song Bird Survival | 2,000 | – |
| Wheatfield Church | 5,000 | – |
| My Name Is Doddie | 1,000 | – |
| Game & Wildlife Conservation Trust | 1,000 | – |
| NCF (Duncan Baker Marathon | ||
| Challenge) | 1,000 | – |
| Shine | 1,000 | – |
| Bishops Refugee Fund | 1,000 | – |
| North Norfolk Transport Scheme | 500 | – |
| Purfleet Trust | 1,000 | – |
| BrainsTrust | 5,000 | – |
| Stowe School Foundation | 2,000 | – |
| King's Lynn Winter Appeal | 1,000 | – |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 43,000 | 17,500 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
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