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2024-04-05-accounts

CHARITY REGISTRATION NUMBER: 1086153

The Barratt Family Charitable Trust Unaudited financial statements

5 April 2024

The Barratt Family Charitable Trust

Financial statements

Year ended 5 April 2024

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 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2024.

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 2024

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 £133,650 (2023: £30,000).

Financial review

Unrestricted fund income totalled £135,966 (2023: £33,455). After making grants totalling £133,650 (2023: £30,000) and incurring administration costs of £2,352 (2023: £2,076) net expenditure for the year before investment gains/losses amounted to £36 as shown on page 6 (2023: net income of £2,580). After gains on investments of £73,871 (2023: losses £78,574) the net income for the year was £73,835 (2023: net expenditure £75,994).

Reserves policy

At the year end the charity had free reserves of £12,817 (2023: £13,024), with a further £1,293,422 (2023: £1,219,380) 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 2024

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:

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 2024

The trustees' annual report was approved on 16 August 2024 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 2024

I report to the charity trustees on my examination of the financial statements of the charity for the year ended 5 April 2024 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 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.

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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 2024

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

2 September 2024

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The Barratt Family Charitable Trust

Statement of financial activities

Year ended 5 April 2024

2024 2024 2023
Unrestricted
funds Total funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 4 100,000 100,000
Investment income 5 35,966 35,966 34,656
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
Total income 135,966 135,966 34,656
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Expenditure
Charitable activities 6 (136,002) (136,002) (32,076)
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
Total expenditure (136,002) (136,002) (32,076)
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Net income/(expenditure) and net movements in funds
before gains and losses on investments (36) (36) 2,580
Net gains/(losses) on investments 7 73,871 73,871 (78,574)
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
Net income/(expenditure) and net movement in funds 73,835 73,835 (75,994)
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward 1,232,404 1,232,404 1,308,398
ৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ
Total funds carried forward 1,306,239
৶৶৶৶৶৶৶৶৶৶৶
1,306,239
৶৶৶৶৶৶৶৶৶৶৶
1,232,404
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 14 form part of these financial statements.

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The Barratt Family Charitable Trust

Statement of financial position

5 April 2024

2024 2023
Note £ £ £ £
Fixed assets
Investments 11 1,293,422 1,219,380
Current assets
Debtors 12 975 1,201
Cash at bank and in hand 14,080 13,899
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
15,055 15,100
Creditors: Amounts falling due within
one year 13 (2,238) (2,076)
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
Net current assets 12,817 13,024
ৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ
Total assets less current liabilities 1,306,239 1,232,404
ৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ
Net assets 1,306,239 1,232,404
৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶
Funds of the charity
Unrestricted funds 1,306,239 1,232,404
ৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ
Total charity funds 14 1,306,239 1,232,404
৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶

These financial statements were approved by the board of trustees and authorised for issue on 16 August 2024, and are signed on behalf of the board by:

Mr C W L Barratt Trustee

The notes on pages 9 to 14 form part of these financial statements.

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The Barratt Family Charitable Trust

Notes to the financial statements

Year ended 5 April 2024

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.

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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The Barratt Family Charitable Trust

Notes to the financial statements (continued)

Year ended 5 April 2024

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:

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. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Donations
Donations 100,000 100,000
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶
5. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Income from listed investments 35,966 35,966 34,656 34,656
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶

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The Barratt Family Charitable Trust

Notes to the financial statements (continued)

Year ended 5 April 2024

6. Expenditure on charitable activities by activity type

Grant funding Total funds Total fund
of activities Support costs 2024 2023
£ £ £ £
Grants paid (note 17) 133,650 133,650 30,000
Bank charges 114 114
Governance costs 2,238 2,238 2,076
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
133,650 2,352 136,002 32,076
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Analysis of governance costs:
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Independent examination fees 2,238 2,238 2,064 2,064
৶৶৶৶৶৶ ৶৶৶৶৶৶ ৶৶৶৶৶৶ ৶৶৶৶৶৶
7. Net gains/(losses) on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Gains/(losses) on other investment
assets 73,871 73,871 (78,574) (78,574)
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
8. Independent examination fees
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 2,238 2,064
৶৶৶৶৶৶ ৶৶৶৶৶৶

9. Staff costs

No salaries or wages have been paid to employees during the year (2023: £Nil).

10. Trustee remuneration and expenses

No salaries or wages have been paid to the Trustees during the year (2023: £Nil).

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The Barratt Family Charitable Trust

Notes to the financial statements (continued)

Year ended 5 April 2024

11. Investments

Cash or cash Listed
equivalents investments Total
£ £ £
Cost or valuation
At 6 April 2023 6,893 1,212,487 1,219,380
Additions 277,184 277,184
Disposals (274,557) (274,557)
Fair value movements 73,871 73,871
Other movements (2,456) (2,456)
ৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ
At 5 April 2024 4,437 1,288,985 1,293,422
৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶
Impairment
At 6 April 2023 and 5 April 2024
৶৶৶৶৶৶৶৶৶৶৶
Carrying amount
At 5 April 2024 4,437 1,288,985 1,293,422
৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶
At 5 April 2023 6,893 1,212,487 1,219,380
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.

12. Debtors

2024 2023
£ £
Other debtors 975 1,201
৶৶৶৶ ৶৶৶৶৶৶
13. Creditors: Amounts falling due within one year
2024 2023
£ £
Accruals and deferred income 2,238 2,076
৶৶৶৶৶৶ ৶৶৶৶৶৶

14. Analysis of charitable funds Unrestricted funds

Unrestricted funds
Gains and At
At 6 April 2023 Income Expenditure losses 5 April 2024
£ £ £ £ £
General funds 1,232,404 135,966 (136,002) 73,871 1,306,239
৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶
Gains and
At 6 April 2022 Income Expenditure losses At 5 April 2023
£ £ £ £ £
General funds 1,308,398 34,656 (32,076) (78,574) 1,232,404
৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶

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The Barratt Family Charitable Trust

Notes to the financial statements (continued)

Year ended 5 April 2024

15. Analysis of net assets between funds

Unrestricted Total Funds
Funds 2024
£ £
Investments 1,293,422 1,293,422
Current assets 15,055 15,055
Creditors less than 1 year (2,238) (2,238)
ৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ
Net assets 1,306,239 1,306,239
৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶
Unrestricted Total Funds
Funds 2023
£ £
Investments 1,219,380 1,219,380
Current assets 15,100 15,100
Creditors less than 1 year (2,076) (2,076)
ৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄ
Net assets 1,232,404 1,232,404
৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶

16. Related parties

Donations of £100,000 (2023: nil) were received from Ollands Investments Ltd, a company of which C W L Barratt, S C L Barratt and W J Barratt are directors.

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The Barratt Family Charitable Trust

Notes to the financial statements (continued)

Year ended 5 April 2024

17. Grants

2024 2023
£ £
Matthew Project 1,000
Yana 1,000 2,500
School Readers 1,000 1,000
Childhood First 1,000 2,000
Buckingham Emergency Food Appeal 500 1,000
Holt Youth Project 1,500 1,500
Aylsham and District Care Trust 500 500
St. Martin's Housing Trust 2,000 2,000
Break 1,000 1,000
Musical Keys 500
Song Bird Survival 500
North Norfolk Community Transport 500
Purfleet Trust 1,000 1,000
Heron Trust 1,000 1,000
Headway 1,000 1,000
County Trust 1,000 500
Kings Lynn Night Shelter 1,000 1,000
Littlelifts 1,000 1,000
East Anglian Art Foundation 1,000
NCF - Nourishing Norfolk 2,000
Norfolk Heart Foundation 2,000
Stepping Stones 500
Eating Disorders 1,000
Great Yarmouth Minster 1,000
It's On The Ball 500
My Black Dog 1,000
Mind 1,000
Sue Lambert Trust 1,000
Great Ormond Street Hospital 1,000
Cambridge Children's Hospital 50,000
Thornage Hall 50,000
NANSA 1,000
The Bircham Centre 500
The Magdalene Group 1,000
222 Broadlands Squadron 650
Wellbeing for Women 1,500
Age Concern North Norfolk 500
Starlight 500
Connects & Co 1,000
Norfolk Churches Trust 1,000
Community Chaplaincy 500
St Eds 1,000
The Great Hospital 250
Eating Matters 1,500
Open Road 500
Country Food Trust 250
Cromer Community Hospital 1,000
Heart Norfolk 1,000
EACH 1,000
East Anglian Air Ambulance 1,500
Nancy Oldfield 1,500
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
133,650
৶৶৶৶৶৶৶৶৶
30,000
৶৶৶৶৶৶৶

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