OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

THE BANISTER CHARITABLE TRUST

Trustees’ Report

and Financial Statements

for the year ended 31 December 2021

Registered Charity Number 1102320

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE BANISTER CHARITABLE TRUST

INDEX

Page
Charity information 1
Trustees’ report 2
Independent Auditor’s report 4
Statement of financial activities 7
Balance sheet 8
Statement of Cash Flows 9
Accounting policies 10
Notes to the financial statements 12

THE BANISTER CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

CHARITY INFORMATION

Trustees

Mr Christopher Banister Mr Huw Banister Coutts & Co to 06 April 2021 Ludlow Trust Company Limited from 06 April 2021

Principal office

Ludlow Trust Company Limited Tower Wharf Cheese Lane Bristol BS2 0JJ

Registered charity number

1102320

Independent Auditor

Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Bankers and investment managers

Coutts & Co 440 The Strand London WC2R 0QS

Solicitors

TLT LLP One Redcliffe Street Bristol BS1 1TP

Page 1

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE BANISTER CHARITABLE TRUST

TRUSTEES’ REPORT

The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

STRUCTURE GOVERNANCE AND MANAGEMENT

The Banister Charitable Trust is a registered charity constituted under a trust deed dated 30 January 2004 and registered as a charity 25 February 2004.

The trust is controlled by the trustees (list provided on page 1). Trustees are appointed by the Trustees from time to time in accordance with sections 4.3 and 4.4 of the Trust Deed.

On agreeing to become a trustee of the charity, the trustees are thoroughly briefed by the existing co-trustees on the history of the trust, the day-to-day management, responsibilities of the trustees, the current objectives and future plans.

The charity is managed by the trustees, with all decisions taken by the trustees.

The trustees have assessed the major risks to which the charity is exposed. The trustees believe that by ensuring controls exist over key financial systems incorporating Coutts & Co’s systems and controls they have established effective systems to mitigate those risks.

OBJECTIVES AND ACTIVITIES

The charity’s objects are:

The Trustees shall apply the income and, in their absolute discretion, the capital of the Trust in promoting the objects. In order to further the charity’s objects the Trustees’ apply the income and capital by making grants to charitable organisations for the public benefit. These grants are made to organisations whose core purposes meet the charity’s objects and the trustees consider in making these grants the charity is fulfilling its aims.

In determining how the charity should pursue its objects, the trustees have had regard to the Charity Commission's guidance on public benefit.

ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW

During the year under review the charity made grants in furtherance of the objects amounting to £623,627 (2020: £1,639,256) with £20,000 of historic grants written back in the comparative year. Applications must be made in writing setting out the project details and either the budgeted cost or the amount being requested. The trustees pledge funds based on the relevance to the trust’s aims and the benefit to the environment.

Overall the charity had a deficit for the year of £528,935 (2020 deficit: £1,513,679) before net gains on investments of £1,194,618 (2020: £208,169) and legacy receipts of £721,358 giving an overall increase in funds of £1,387,041 (2020 decrease: £1,305,510).

At 31 December 2021 the charity’s total funds amounted to £11,137,518 with reserves a deficit of £926,033. The deficit on free reserves at the balance sheet date arises due to the timing of the recognition of liabilities and the transfer of funds from the endowment fund. Given the availability of the expendable endowment fund the trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time.

The trustees have continued their investment policy of holding funds in a mix of fixed interest securities and equities to provide income and maintain capital.

Page 2

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

TRUSTEES’ REPORT

FUNDRAISING STANDARDS

The charity does carry out any fundraising activities from the public with grants made from income derived from capital and capital withdrawals.

PLANS FOR FUTURE PERIODS AND IMPACT OF CORONAVIRUS

The trustees intend to continue the charity’s grant-making activity in furtherance of the charity’s objects.

Coronavirus has impacted the value of the investment portfolio but it is anticipated that this will recover in the longer term. In the meantime, it is not anticipated that this will impact the ability to make grants nor the charity’s going concern status.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & 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:

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 2008 and the provisions of the trust deed. 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.

APPOINTMENT OF INDEPENDENT AUDITOR

During the year under review the charity exceeded the threshold for audit and appointed Blue Spire Limited as auditors to the charity. Blue Spire Limited have expressed their willingness to continue as auditors to the charity for subsequent financial years.

Approved by the trustees and signed on their behalf.

Joanne Spiceley on behalf of Ludlow Trust Company Limited Trustee

15 November 2022 Date

Page 3

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

INDEPENDENT AUDITOR’S REPORT

Independent Auditor’s Report to the Trustees of The Banister Charitable Trust

Opinion

We have audited the financial statements of The Banister Charitable Trust (the ‘charity’) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 4

THE BANISTER CHARTITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

INDEPENDENT AUDITOR’S REPORT

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation

A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/auditassurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilitiesfor.This description forms part of our auditor’s report..

Page 5

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE BANISTER CHARTITABLE TRUST

INDEPENDENT AUDITOR’S REPORT

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Blue Spire Limited, Statutory Auditor

Cawley Priory South Pallant Chichester West Sussex PO19 1SY

15 November 2022 Date

Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Page 6

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Investments
2
Total
EXPENDITURE ON:
Raising funds - Investment management fees
3
Charitable activities
4
Total
Net gains/(losses) on investment assets
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
12
Total funds carried forward
12		 Unrestricted
Funds
£
-
186,095
186,095
-
655,621
655,621
-
(469,526)
307,340
(162,186)
(763,847)
(926,033)		 Endowment
Funds
£
721,358
-
721,358
59,409
-
59,409
1,194,618
1,856,567
(307,340)
1,549,227
10,514,324
12,063,551		 2021
Total
Funds
£
721,358
186,095
907,453
59,409
655,621
715,030
1,194,618
1,387,041
-
1,387,041
9,750,477
11,137,518		 2020
Total
Funds
£
-
196,321
196,321
88,644
1,621,356
1,710,000
208,169
(1,305,510)
-
(1,305,510)
11,055,987
9,750,477

None of the charity's activities were acquired or discontinued during the above two financial years.

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 7

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

BALANCE SHEET AS AT 31 DECEMBER 2021

2021 2020
Note £ £ £ £
FIXED ASSETS
Investments - managed funds 9 11,035,973 10,205,325
Total fixed assets 11,035,973 10,205,325
CURRENT ASSETS
Cash at hand and in bank 1,147,430 372,079
Total current assets 1,147,430 372,079
CURRENT LIABILITIES
Creditors: amounts falling due within one year 10 1,003,549 728,594
Net current assets/(liabilities) 143,881 (356,515)
Total assets less current liabilities 11,179,854 9,848,810
Creditors: amounts falling due after more than one year - grants payable (42,336) (98,333)
Total assets/(liabilities) 11,137,518 9,750,477
THE FUNDS OF THE CHARITY
Expendable endowment funds 12 12,063,551 10,514,324
Unrestricted funds 12 (926,033) (763,847)
Total charity funds 11,137,518 9,750,477

The notes on pages 12 to 17 form part of the financial statements.

The financial statements on pages 7 to 17 we approved and authorised for issue by the trustees and signed on their behalf:

Joanne Spiceley on behalf of Ludlow Trust Company Limited Trustee

15 November 2022 Date

Page 8

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

STATEMENT OF CASH FLOWS

Note
£
£
Net cash flow from operating activities (see below)
225,286
Cash flow from investing activities
Investment income
186,095
Payments to acquire investments
(6,142,381)
Receipts on sale of investments
6,506,351
Net cash flow from investing activities
550,065
Net increase/(decrease) in cash and cash equivalents
775,351
Cash and cash equivalents at 1 January
372,079
Cash and cash equivalents at 31 December
1,147,430
Cash and cash equivalents consist of:
Cash at bank and in hand
1,147,430
Cash and cash equivalents at 31 December
1,147,430
Reconciliation of net income to net cash flow from operating activities
£
£
Net income
1,387,041
Adjusted for:
Investment income
(186,095)
Net (gains)/losses on investments
(1,194,618)
Increase/(decrease) in creditors
218,958
(1,161,755)
225,286
2021
2021		 £
£
(1,842,870)
196,321
(7,432,433)
8,731,476
1,495,364
(347,506)
719,585
372,079
372,079
372,079
£
£
(1,305,510)
(196,321)
(208,169)
(132,870)
(537,360)
(1,842,870)
2020
2020		 £
£
(1,842,870)
196,321
(7,432,433)
8,731,476
1,495,364
(347,506)
719,585
372,079
372,079
372,079
£
£
(1,305,510)
(196,321)
(208,169)
(132,870)
(537,360)
(1,842,870)
2020
2020
(1,842,870)

Page 9

THE BANISTER CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

The Banister Charitable Trust is an unincorporated charity constituted under a trust deed. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. 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 are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:

● Raising funds; these include investment management fees charged by the charity's investment managers

● Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.

VAT

The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.

Taxation

The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.

Page 10

THE BANISTER CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

ACCOUNTING POLICIES

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Where investments are denominated in currencies other than Sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.

Investments held in foreign currencies

Where investment assets are held in a foreign currency they are translated at the prevailing rate at the balance sheet date and any gain/loss on exchange rate movements is included in the statement of financial activities in the other recognised gains and losses section.

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Fund accounting

Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 11

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

1. Donations and legacies

1. Donations and legacies
Legacies Unrestricted
Funds
£
-
-		 Endowment
Funds
£
721,358
721,358		 2021
Total
Funds
£
721,358
721,358		 Unrestricted
Funds
£
-
-		 Endowment
Funds
£
-
-		 2020
Total
Funds
£
-
-

2. Investment income

2. Investment income
Unrestricted
Funds
£
Income from investments
185,956
Interest on cash deposits
139
186,095
3. Raising funds - investment management charges
Unrestricted
Funds
£
Fees paid to investment managers
-
-		 Endowment
Funds
£
-
-
-
Endowment
Funds
£
59,409
59,409		 2021
Total
Funds
£
185,956
139
186,095
2021
Total
Funds
£
59,409
59,409		 Unrestricted
Funds
£
195,576
745
196,321
Unrestricted
Funds
£
-
-		 Endowment
Funds
£
-
-
-
Endowment
Funds
£
88,644
88,644		 2020
Total
Funds
£
195,576
745
196,321
2020
Total
Funds
£
88,644
88,644

4. Charitable activities

Grants (see note 5)
Grants written back
Administrative services
Governance costs (see note 6)		 Unrestricted
Funds
£
623,627
-
29,894
2,100
655,621		 Endowment
Funds
£
-
-
-
-
-		 2021
Total
Funds
£
623,627
-
29,894
2,100
655,621		 Unrestricted
Funds
£
1,639,256
(20,000)
-
2,100
1,621,356		 Endowment
Funds
£
-
-
-
-
-		 2020
Total
Funds
£
1,639,256
(20,000)
-
2,100
1,621,356

Page 12

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

5. Grants - to institutions to promote the conservation, protection and improvement of the physical and natural environment

Alternatives West Dumbartonshire
Amphibian & Reptile Conservation Trust
Amphibian & Reptile Conservation Trust
Amphibian & Reptile Conservation Trust
APE Project
Avon Wildlife Trust
Avon Wildlife Trust
Bumblebee Conservation Trust
Butterfly Conservation Trust
Campaign for National Parks
Derbyshire Wildlife Trust
Durham Wildlife Trust
Earth Trust
Fields in Trust
Future Trees Trust
Friends of Sunnyhurst Woods
Gloucestershire Wildlife Trust
Grab Trust
Harper Asprey Wildlife Rescue
Hertfordshire Wildlife Trust
Herts and Middlesex Wildlife Trust
Linking Environment and Farming (LEAF)
Little Ouse Headwaters Project
National Trust for Scotland
National Trust for Scotland
National Trust for Scotland
National Trust for Scotland
National Trust for Scotland
North of England Zoological Society
Our Only World
Pembrokeshire Coast
Possible
RSPB Berney Marshes
RSPB Cavenham Brecks
RSPB Ashill
RSPB Dungeness
RSPB Cymru
RSPB Cymru
RSPB Cymru
RSPB Cymru
RSPB Greylake
RSPB Geltsdale
RSPB Geltsdale
RSPB Geltsdale
RSPB Haweswater
RSPB Scotland: Glenborrodale
RSPB Scotland: Puffin Project
RSPB Scotland: Glencripesdale
RSPB Scotland: Glencripesdale
RSPB Scotland: Glencripesdale
RSPB Scotland: Glencripesdale
RSPB Scotland: Tay Reedbeds
Yr1 2021
RSPB Scotland: Tay Reedbeds
Yr2 2022
RSPB Scotland: Tay Reedbeds
Yr3 2023
Royal Zoological Society of Scotland
Carried forward		 2021
£
-
-
-
50,000
500
-
-
-
-
-
-
-
-
-
-
25,000
-
-
9,200
-
-
-
-
-
-
-
-
-
-
4,400
12,500
-
101,285
50,000
-
31,240
-
Yr1 2020
-
Yr2 2021
-
Yr3 2022
-
-
-
-
-
25,870
-
-
-
Land purch.
-
Yr1 after
-
Yr2 after
-
Yr3 after
15,000
15,000
15,000
10,000
364,995		 2020
£
30,000
5,000
55,000
-
-
25,000
25,000
35,000
10,000
5,000
10,000
17,500
50,000
40,000
5,000
-
15,000
5,000
-
80,000
12,284
15,000
6,500
10,000
10,000
10,000
10,000
10,000
50,000
-
-
30,000
-
161,804
65,000
-
25,000
25,000
25,000
100,000
43,855
30,000
10,000
10,000
-
40,000
22,153
200,000
50,000
25,000
25,000
-
-
-
-
1,434,096

Page 13

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

5. Grants - to institutions to promote the conservation, protection and improvement of the physical and natural environment continued

Brought forwad
Small Woods Association
Species Recovery Trust
St Werburghs City Farm
St Werburghs City Farm
Staffordshire Wildlife Trust
Surrey Wildlife Trust
The Aire Rivers Trust
The Aire Rivers Trust
The Aire Rivers Trust
The Aire Rivers Trust
The Moorland Mousie Trust
The Orchard Project (Cause) Ltd
The Springhead Trust Limited
West Cumbria Rivers Trust
Woodland Heritage Limited
Woodland Trust: Pepper Wood
Worcester Wildlife Trust
Yeovil Rivers Community Trust
Zoological Society of London
Zoological Society of London
6. Governance Costs
Unrestricted
Funds
£
Independent auditor's fees
2,100
2,100
7. Examiner's and Auditor's remuneration
Unrestricted
Funds
£
Auditor's fees - audit
2,100		 Endowment
Funds
£
-
-
Endowment
Funds
£
-		 Yr1 2021
Yr2 2022
Yr3 2023
Yr4 2024
2021
Total
Funds
£
2,100
2,100
2021
Total
Funds
£
2,100		 2021
£
364,995
-
-
-
-
10,000
5,000
17,628
3,668
3,668
3,668
5,000
-
-
10,000
-
200,000
-
-
-
-
623,627
Unrestricted
Funds
£
2,100
2,100
Unrestricted
Funds
£
2,100		 Endowment
Funds
£
-
-
Endowment
Funds
£
-		 2020
£
1,434,096
10,000
3,550
10,000
10,000
-
-
-
-
-
-
-
7,500
10,000
-
5,000
-
112,500
15,000
11,610
10,000
1,639,256
2020
Total
Funds
£
2,100
2,100
2020
Total
Funds
£
2,100

8. Related party transactions

Fees payable to Coutts & Co, which was a trustee of the charity to April 2021, for investment are included under raising funds. Fees paid in the period Coutts & Co was a trustee amounted to £23,485. Ludlow Trust Company Limited was appointed trustee of the charity in April 2021 and charged fees for administrative services totalling £29,894 as shown in note 4. These fees are authorised under section 6 of the trust deed.

The charity has no employees, with all administration being carried out by the trustees. No trustees received remuneration nor expenses in the year under review or the comparative year.

Page 14

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

9. Fixed asset investments - managed funds

Market value brought forward
Additions at cost
Disposals at carrying value
Gain/(Loss) on revaluation
Market value carried forward
Asset distribution:
Listed investments
Net gains/(losses) on investments:
Unrealised gain/(loss) on investments
Realised gain/(loss) on investments		 2021
£
10,205,325
6,142,381
(6,257,429)
945,696
11,035,973
11,035,973
11,035,973
945,696
248,922
1,194,618		 2020
£
11,296,199
7,432,433
(8,870,198)
346,891
10,205,325
10,205,325
10,205,325
346,891
(138,722)
208,169

10. Creditors: amounts falling due within one year

Accruals - Auditors remuneration
Accruals - management fees
Accruals - administrative services
Accruals - grants payable		 Unrestricted
Funds
£
2,100
-
10,308
977,953
990,361		 Endowment
Funds
£
-
13,188
-
-
13,188		 2021
Total
Funds
£
2,100
13,188
10,308
977,953
1,003,549		 Unrestricted
Funds
£
2,100
-
-
704,667
706,767		 Endowment
Funds
£
-
21,827
-
-
21,827		 2020
Total
Funds
£
2,100
21,827
-
704,667
728,594

11. Analysis of net assets between funds

Fixed assets
Current assets
Current liabilities
Non-current liabilities		 Unrestricted
Funds
£
-
106,664
(990,361)
(42,336)
(926,033)		 Endowment
Funds
£
11,035,973
1,040,766
(13,188)
-
12,063,551		 2021
Total
Funds
£
11,035,973
1,147,430
(1,003,549)
(42,336)
11,137,518		 Unrestricted
Funds
£
-
41,253
(706,767)
(98,333)
(763,847)		 Endowment
Funds
£
10,205,325
330,826
(21,827)
-
10,514,324		 2020
Total
Funds
£
10,205,325
372,079
(728,594)
(98,333)
9,750,477

Page 15

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

12. Analysis of net movements in funds

Total funds brought forward
Total incoming resources
Total resources expended
Gains/(losses) on investments
Transfers between funds
Total funds carried forward		 Unrestricted
Funds
£
(763,847)
186,095
(655,621)
-
307,340
(926,033)		 Endowment
Funds
£
10,514,324
721,358
(59,409)
1,194,618
(307,340)
12,063,551		 2021
Total
Funds
£
9,750,477
907,453
(715,030)
1,194,618
-
11,137,518		 Unrestricted
Funds
£
(904,642)
196,321
(1,621,356)
-
1,565,830
(763,847)		 Endowment
Funds
£
11,960,629
-
(88,644)
208,169
(1,565,830)
10,514,324		 2020
Total
Funds
£
11,055,987
196,321
(1,710,000)
208,169
-
9,750,477

The transfer of funds from the expendable endowment fund to unrestricted general fund was implemented by the trustees in order to provide resources for grant awards in furtherance of the charity's objectives as authorised by clause 2.3 of the trust deed.

13. Financial instruments

The carrying amounts of the charity's financial instruments are as follows:

Financial assets
Measured at fair value through net income/(expenditure):
Fixed asset investments		 2021
Total
Funds
£
11,035,973
11,035,973		 2020
Total
Funds
£
10,205,325
10,205,325

The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows:

Income and expense
Financial assets measured at fair value through net income/(expenditure)
Investment income
Investment management fees
Net gains and losses (including changes In fair value)
Financial assets measured at fair value through net income/(expenditure)
Net gains/(losses) on investments		 2021
Total
Funds
£
185,956
(59,409)
126,547
1,194,618
1,194,618		 2020
Total
Funds
£
195,576
(88,644)
106,932
208,169
208,169

Fixed asset investments are held at fair value with valuations obtained by reference to market prices from the appropriate stock exchange, bid prices and last traded prices where applicable.

Page 16

THE BANISTER CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

14. Comparative statement of financial activities

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Investments
2
Total
EXPENDITURE ON:
Raising funds - Investment management fees
3
Charitable activities
4
Total
Net gains/(losses) on investment assets
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
12
Total funds carried forward
12		 Unrestricted
Funds
£
-
196,321
196,321
-
1,621,356
1,621,356
-
(1,425,035)
1,565,830
140,795
(904,642)
(763,847)		 Endowment
Funds
£
-
-
-
88,644
-
88,644
208,169
119,525
(1,565,830)
(1,446,305)
11,960,629
10,514,324		 2020
Total
Funds
£
-
196,321
196,321
88,644
1,621,356
1,710,000
208,169
(1,305,510)
-
(1,305,510)
11,055,987
9,750,477

None of the charity's activities were acquired or discontinued during the above two financial years.

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 17