Cornpany Reglstration Number: 05284271
Charity Re9iStrdllon Nurnber: 1106768
THE BARRISTERS. BENEVOLENT ASSOCIATION
(A Company Limited by Guarantee)
COMMIThEE MEMBERS. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limited by Guarantee)
CONTENTS
Page
Refèrence and Administrnti¥e Details of thg Chaiity. its Commlttee Members and
Advise
Chaim)an's Statement
Commlttee Membe￿. Report
Statement of Commtttèè Mernbers. Respon$ibilitie5
Independent Audttots. Report on the Flnanclal Statements
11-14
Statement of Financial Actfvttles
Balance Sheet
16
Statement of Cash Flows
17
Notes to the Flnanclal Statements
18-37

THE BARRISTERS, 8ENEV0LETr￿ ASSOCIATION
{A Company Llmited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS COMMIThEE MEMBERS AND
ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2020
Commtttee Mernber5
Terence Mowschenson QC. Chaimian
David Phillips QC, Honorary Treasu￿[
Raymond Cox QC, Treasurer
S8ra Har￿eaVes. Honorary Secretary
The Rt. Hon. The Lord Saville of Newdigate, Member
His HonouT Judge John Hillen, Memter
exander Le3M￿nIh OC, Member
Graeme Halker5ton, Memter
Angus Mccullough QC. Memb
Jonathan Tcxl. Member
M8s1er RLyJer Eastman. Member
Daniel Toledano QC, Member
Christopher Stephenson, Memter
Shabeena Azh8r-Mole, Member
Teertha Gupta QC, Member
Company registered
number
05284271
Charity registgfed
number
11(￿768
Registered office
14 Gral5 Inn Square
London
Ihf1R 5JP
Company secretsry
Mrs Janet South (re￿gned 20 August 20201
Chief Executlve Offlcor Nicky YI￿ng
Deputy Chief Executiv• Annette Bennett
Officer
Independent audltors
MHA Maclntyre Hudson
Chartered Accountants
Statutory Auditor
6th Floor
2 London Wall Pla
London
EC2Y SAU
Page 1

THE BARRISTERS. BENEVOLENT ASSOCIATION
{A Company Limited by Guarantse
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. COMMITTEE MEMBERS AND
ADVISERS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2020
8ankers
National Westrninster Bank PLC
Law Courts
Temple Bar
Southampkni Customer se￿ICe Centre
BnJnsw¢k Gate
23 Brunswick Aa
S0152AQ
Soll¢ltoYs
Wthers LLP
20 Old Baley
London
EC4M 7AN
Investment Managers
Investec Weallh a￿1 InVeStrr￿ Limited
30 Greshan Street
London
EC2V 7aN
Insolvency Practitlonws Griffins LLP
Tavislwk House South
Ta￿$t{￿k Square
London
WC1H 9LG
Page 2

THE BARRISTERS. 8ENEVOLENf Assoc￿rnN
IA ¢ompany lirnited by guar•ntsg1
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2020
The BBA rose to a major challenge FM)S6d by Covky 19 tN"s year. In April 2020. in order to deal wth the
Int￿aSed need amongst memtet5 of Ihe Bar. soffe ofvthorn found themse￿ ¢ornpletety out of work
and I￿ligible for ass1stan￿ from the goverrKn8nL the BBAtoWherwrth the foul Inns of Court launched
the Covid 19 Appeal. The appeal raised over£1 2m. indudit¥J £4fM).O(K) donated by the Inns. ￿ BBA
took responsbility for di5tnbubng the furKJs and dealing with those wtho applied Spe￿1 was essential.
Starting in May 2020. app11cants appl*d online for grants hdd ￿EeklY cornmrttee meets.ngs to deal
wrth them. in a¢co[rjan￿ bwth guidance we develop8d Grants We￿ rn￿e each week. Grants we
gererally of a Set amount per rnonth, and rnade for up to 3 months at a time. Many applicants have
new8d their grants wulaty In Ihis way in 2020 we S￿1pOrted 157 indivklual at4)licants plus 94 of
their dyndents who Included chikJr8n. ￿ will continue to rnak8 the support available throughout
2021, so long as tI￿re is a ne&Y and appeal lunds allow. Tr BBA WOU￿ like to thank the Four Inns,
thè sets of chamtErs whictt contribLrt8d. Bar profess￿n31 sotsets"es. the Circurts. and individud donor5
for their support wthout which this level of assistance woukl not have been rmxsible.
I WC￿1￿ like to extend a speciJ thank you to those rn￿nber$ of the comtnrttee who attended weekty
rneeliThJs to wew appl￿tIL￿5 and make sure that all the ¥plicAtions were swifdy dealt wth.
During the past year we re￿iVed slighvy fewer requests for assistan￿ unconnected to COVKI 19 ￿￿e1t
thè numI￿r of applicati￿$ was not substantialty out of I￿e with nurnbers recewl in prevk)us
years
We receive(1 14 new applications. a decrease of4 on the Pfevious year and of these we were
able io help 12. W8 hekl Iwo SU￿0)MMrtteÈ meètings. As well as these nthv cases, there were 20
renewals. hvo less than last year
Our incorne from ¢JonatK)ns is generalty in a mc¥Jest dedine and we are trwr#J to address this issutr.
AdministratNe expenditure is wdl ¢Mtrol￿d but conbnued fluCttsat￿S in the investtnent matk8t
continu8 to affect the value ol our resewves a￿1 Ir￿rne.
We maintain our str￿1 poI￿Y of setxjring all loans vknewer possible and re￿￿ these annually in case
a beneficiary'sutcurTrstsnce5 have changed are anxious to help 85 many t￿ne￿Laries as possible
but our re5wrces are limit￿ and whwe equity exists. we believe secunng our loans Is In our
beNefi￿ar￿5, best Inte￿ts, as trE ￿lGY aSS￿ts In ertsuriTrJ that we have hjnds for beneficiaries in the
fU￿re.
Non8 of this could be achEved wrthcwjt thg continu￿1 byal and Indispensab￿ suppcrt of many
volunteers.. in part¢ular those who Serve on our Board arKJ Ihe Circuit Representatives who visit
applicants and be￿ficiar1es who are unabk to Iravd to London. Mso Invaluable are ttte supportèts
who rnake regU￿rdOn￿.0ns orwho utKlertake vanous ftjndraising acbvit*5 for us- running m8rathons,
aying golf and like- to whom we are equalty grateful. We have a very srnall team of paid staff
whose fnendly and helpfvl o)ntact ￿ tre phone or throv4Jh e-rnail 15 rnuch appreriated by those who
are in touth with u5 and I woukl like toexpress the thanks oftre Commrtieetothe BBA'S Chief Executive
Nicky Youn9. and our deputy Chief EX￿LrtiYe Annette BenTEtL who rose to ts Challenge ofthe Covid
19 Appe81 and dKI a huge amovnt of addibonal wort. I would also add my own thanks to those on the
Committee tho attended our monthty tneetiTrJs in a(1d￿'on to the weekly Covid meets"*vJs to deal with
applicthons unconnected to Covid 19 which we dea￿ from our gen8ral futvJ5.
The need to maintain ourdonate(J in(tsne Lg Imwrtant atwj oneway ist0er￿rAxage everyo￿ to t￿lUde
us In tr*ir Wll orKe family needs have t*en sscutwl. Ywr gift will mean someone less fortunate than
you &gn be 25SiSted at a tyrne of need.
PJJe 3

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA cOM￿nY limited by guarant•el
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2020
Finalty. I woukj like lo a word of thanks to Janet Slxrth rètired &s dyector of the BBA duriThJ
2020 after giwry the BBA 17 yearn ofvAse adwce 3Th1 unstrntsng 5uprx)rt. She left the BBA much
improved systerns and procedure5 c￿pared to those whith ste found wtEn i￿Thed us and the
Committae wish her a long and 8nil)yab￿ fetsetnent.
Terence Ilo*sch8nson QC
Chairman
Page 4

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company limit¢d by guarante¢l
COMMIThEE MEMBERS, REPORT
FOR THE YEAR ENDED 31 DECEM8ER 2020
The Commrttee ha5 pleasure In [￿ènts￿ its reptht and aco)unts fur the year endèd 31 Decembèr
2020. The financial stalements have been prepar&l in accordance V￿th the ac￿nting poliaes set out
therein and compty with current statutory requir￿ents. Ihe Memorandurn and AThc￿9 of Associabon,
and the Ststement of Roc(*nmended Pracb"c8 Ac￿Unts"ng ar*J Reporb"ng by Charities ISORP 20151.
Constitution
The Barristers, Benevoknt ks0cjaty.￿ was IDun(fed on 10 January 1873. It is a tharitable company
limited by guarantee I￿orporated in EngLgThJ >TrJ Wdles on 11th November 2004, nurnber 5284271.
The C￿panY gained tharrtatiÈ status on 15 No¥ember 2(MM. registration number 1106768. Tk
company was astsblishe(l under a MemorarNlvrn of A8S1tiats"on whith estsblished the objects and
power5 of the charitable company and is govemed urKler its Articles of AssocAation. In the ev8nt of I
company being wound up, mamters a￿ requir8d to cMtribui8 an amount not exceeding £1.
Object8
The oty'ects of the Assoc￿t￿￿ arè to provide finarrial and other aSSL¥tsn￿ and support to nee0¥ and
deserving members of the Bar who are or have been in practi(* In EngLqr¥J and Wales. their spous8S
and dependant5. A551stan￿ is gwi wthout ge￿raPh￿21 restiiciion or any need to fees.
Policy
To achieve these objectives. th8 Cornmrttee ha5 follrftA*d fdlowin9 policies..
al To encour2g8 members of the Bar and the judiaary to contributè by way of dC￿ab0n5, gift aid.. arKY
bl To create atEd rnanlain an ad8quate captal bas8 g8nerab"ThJ investsllent I￿ryne to augrnent the
giftèd incryne ol the A&S￿a￿on.
Management
The Chanty o govemed by a Comrnrtlee whose members are Ihe TnJste85 for the pur￿Se$ of charty
law and the Directors for the purwse tsfcompany law Those who seNed duriThJ Ihe year and up to thè
date of this rewrt are set out(w) page 1.
RecruOtm•nt and Appolntment of Management Cornmlttee
All M￿nter$ ol the Managerrent Committee give b.me voluntarily arhy receNe m ￿nefits frcm the
Charty Traditional busirTres5 and s￿lIS are wdl tepre5ent&Y on the Management Committee. In an effort
to maintsin a broad rnix of skills, new Commrttee memLEt5 are recwited after infotrnal discussions wrth
th8 Chaimian aTrJlor oth8r offiiers and they are invrteij to W5rt the offi￿$ where they are briefed by the
staff on their work and systems They are vnth a copy of the MernoraTrYum and Arbcles of
Assooa*"on, the rules cur￿nt bad( issues of ￿ Annual Revwi as well as th8 Charty Ctynmission
leanet on charity resporKsibi1￿es Ounng the year they receive full bad(grouTrfj papws for all potential
and actual banefiuaries. the monthly accwnts and the annual summane5 of loans. The Chief Execuliv8
reports personally to the Members on matters conceming Indivi¢Juals allctated to them &s case
manag8r and in any olher case vthere they have asked to be kept in touth.
Page S

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA company limited by guarante¢l
COMMirrEE MEMBERS. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
Trustee Induction and Training
Most Trustees are already farni11￿ wilh the pract￿1 of Ihe Charity being tnembers of the Bar.
Trustees are invite(l aThY eno)uraged to attend a 5erie5 of Board rneetiryJs as part of Iheir training to
familisrise t￿mSe￿e$ vthh the charty and the context wtthin whith rt operate5. These are joinUy18d by
the Chair ofthe Commrtiee, Company Secretary. Ch￿f and Dèputy Ch￿f Exe(yJtive of the Charity and
co¥ers.'
The obligab.ons ofmanagement Commrttee m•mt￿r5.
The rnain docunEnts whth set out the op8rational framework for the Chaiity incI￿ling the
Mernorandum and Article5
Resourong and the current finanoal Pos￿"0n as set out in Ihe latest r¥J￿1$h*j a(xwnts.
Any Future plans and obpctNes.
Link5 to Ihe Chatty Commk%sK)ns wet6ts wrth publL*ions to the Trustees ro￿ and
spon5ibilrties
How our activitles dellver public benefit
The Charity seeks to reach every prathsing Barrister e¥ery year to ensure they are aware of t
potential assistan￿ availabÈ and to seek theii financi￿ This prinarily achieved through
ernailing a ¢opy of the Annual RevEwto the Bar Counsd distnbuboi via email to all Members of the
Bar and JudKiary. also attend rdevant conferenr*s and s&k publirity in professional Magazi￿$.
Our website Includes infomats.on foi tmrth donors arKI w)tenbal beneficiar￿5 and has a duwnloadable
applieAtion form. We aLs0 have a small team of volunteer CsroJf( Represent*"ves who are able to makè
vi8rts rf needed.
Help is tailo￿￿ to eath In¢ivkYual case. ltherevet p0s￿ble we seek to enable the beneficiary to solve
their prcrt)lèm and (x)nbnue in or retum to a posth.on where he or She can earn a living bui where this is
impossible, or nol to be recommetMle(J. we can offer Secu￿ or unsecured loans or make grants.
Somthm85 help is needed urgentty lo b.de people thrrwh an emergency. other tirne5 the need LS
longer-temi. ￿giStan￿ ￿ gwen v￿out ger>JraphiLzl fe5triction or any ne￿1 to pay fees and with due
regard to publ￿ bènefft guidance published by the Chaty Commission.
Achlev•mtnts an¢J perfornlanc
Covid-19
The BBA launched a joint App￿al tOge[￿r wilh the Four Inns in April 2020 to support t1￿ Increase ln
demaThJ lor assistance by member5 of the Barwhose pr￿ti￿$ were advetsdy affected by Covid-19.
The Trustees have ￿elled and continue to r8ceNe Comd appli(xtions for grants from the knnd. The
total donations rer￿ve¢1 at the end of the year was £1242.568 wth total dOnati￿S made to nee
applicants of £846,810 157 Beneficianes were supported by the year end together with 94 of their
detendents. Applications We￿ typically renewed on thr& ocr35KJns during the course ofthe year The
BBA and the Four Inns are anticipating oifering SUF¥)Ort and grants through 2021 and wewill endeavour
to sutport new ar￿ eX￿trng cases.
Mfith tre support of the Four InAS. doftors. sets of chambers. professk)nal assotsats.ons and circurts we
are confident we can rneet the demaThJ to support those ￿dY and deserving memters ofthè Bar.
Page 6

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company limited by guarantee)
COhlMITTEE MEMBERS. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
In 2020 trere were 14 new eases uno)nnerled to co￿J. a i*crease of4 on the PWK)us year. Of these
wewere ableto hdp 12aThl 2 couhd not ￿ ￿[rted. 2 su1￿£))Mm￿tee Meetingswe￿ hdd. Th8 refvsals
N4Ere based on ap￿ical￿n$ whjth fell outSKI8 our Bnm&liate r8rn￿ Where we dedine support ber2use
congd8r the application was madè too scM)n. we ￿KOUrage the appltsnt to reappty shDuld their
siluation worsen. In addthon lo the new cases. tho¥e We￿ also 20 reF*wals. 2 less Ihan in 2019 and 21
pc*ts. 4 rnorè than in 2019.
The most cx)rnrnon reason lor (leclinirwj ffin*Kyal ￿1p at any time (although ￿ng the d(xx OP8n frii
subseqLEnt applicat￿n5) is w55e5sth ol adequate petsonal resource5 we consthr should be
Used first. since one tsf our rnteria foi wanb"TrJ assistarts 15 that tl)e applThnt be'needy". In
Inth"al erNuirEs- by plK)ne. email. ￿tter or peYsonalty- are haN11￿ inme(fiately and 1he airn is to have
our applicats.on fo￿ (X)mp￿d and priM%swJ in tirne ft)r the next avail&)le Ccmrniitee meets"ng.
atthough this dr￿ nol nrfe oul more wnmeiliate help rf thi5 Tr5 urgenty required.
Every ¢a8e is reviewed annually on the ami¥er5ary of its initHI mèntation to ihe Comrnittee and
r8newals ofs*wrt havets b8 accornpan*Y by anothercc¥nrleknl apFAication IrTh. Outstan(ting loans
are reviewed annualty at the beginniro ol the year.
Se¢ured LoaDs
A thorough of all outstantling unsecured k)8n5 has teen (art￿ out the debt is rnany
ye3r5 old and despite attempts to ¢(￿t￿tthe ijebior the￿ has b8en no ￿gnifiCant repayment the debt
h8s b8en written off In our accounts Thts not mean that att￿Epts to secure repayment have teen
abandon8d 8rKI every effort wll conknle to be maje to re(￿lhe$* tsbts.
Pian for the futur
The A5sociaiion will Contin￿ lo seek q)p)rttmitie5 to th8 of t￿ Cltarity and to seek
finanual support from those in a to h*.
The D1￿CtOrS will conb.nue to mcnrtor T¢s￿￿e tThes for r￿mr￿j 8wKI procwsing applThtions. the
Pfornpt and accurate paymerrt of ail benefits. aThJ the ￿¢￿￿3￿ment of o)nlributiLn5.
Flnanclal r•Ylew
The Assoaatwjn made a surplu5 fw the year of £552.470 {2019 - £141.6921 L*fore net gains on
revaluation of the investrnents.
Total incorning ￿soUr￿$ incyea5ed frcffi £569,537 2019 to £1,843.440 In 2020.
Total resources expended inu88581l from £427.845 in 2019 to £1.29).970 in 2020.
As at the year ended 31 Decemtei 2020. trE AsxKiation had unrestrcted re5w¥es of £12,917,886
12019- £12,OW.3821.

THE BARR15TERS' BENEVOLENT ASSOCIATION
IA ¢ompany limit￿ by guaranteol
COMMITTEE MEMBERS. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
Investment Pow•r5. Policy and Perfonnane•
The MemLErs ofthe C￿ll￿1￿ee have, as Trustee5. ￿ Slatutory geneol powerof investsnent conferred
by th8 Trustee Aci 2(Ml). which pertnts them to make any kind of investment which they ￿Uld make if
they were absolutely enIrt￿d to the Assooation's assets. In exercJ* of th￿[ P￿￿er$ under the Act. the
Members of the Cornmittee have delegatecs thèir 8Sset management fu￿nS to the Ass￿l3t10n'S
investment managers Inve5tec & Investrnent based on an agreernent for discreb"onary portfolio
rnanagement The instruction to the investsnent managers E that they seek a b8lan(*d ￿tuM from
Income and ff(Yn caprtal growth of the portfolio. wth m rn0￿ than a mcKlerate ￿Ve1 of risk. The
investsrÉnt strategy Is ￿￿eWed durw the yearwbth the investsn8rrt managers.
The value of the Inveslments as at 31st Decerntrw 2￿0 was £8,0(hS.913 12019 - £7.251,1941. The
portfol￿ an Inflow of £280.Cm duriNJ ￿ year and so the net invease in the valw of t
portrolK) Was £755,71912019- £814.3391.
An extraordinary recovery in equity markets Irom the h)ws of March ersured that most equity markets
ended XJ20 in posthve territory. atthough the UK equity market was a notab￿ 8xr*pb"on, droppiry by
c. 100k. Large fisixl and mc#)etary slimvlus. ¢(￿rdinated on a global basis helred, as did positive
vaccine news in November. Overseas eoutty rna￿ets We￿ very strong, l&J by the US, as several
technology ￿mpan*S such as Arnazori. PayPal and Mm150ft thrive(l. for ex3Th￿e. The portfolio had
material exposure to these of bL6inesses and therefoie rnade stroNJ gain5. Ov8rall, the portfolio
prOdU￿d a total return Of+6.2%wh￿th Q￿pareS wrth the benchmark tetum of+1.4%. Investec ￿lieve$
that th8 current diVersif￿d strategy rem*ns a surlable one for the charty to ath(eve its long-temi aim5.
Thè benchmark is comprised of fv foll(y•*mg indthx." 42% FTSE All Share (UK equities). 25% FTSE
brld ex-UKloverseas &]uit>esl. 20% FTA GovernrnentAII Stctks lix)ndsl, 3% IPD Monthly Ipropertyl.
5% Bank of England Base Rate +2% lattemab.ve assets), 5% Ba￿{ of EnglaThJ Ba58 Rate-0.5% Icashl.
Grant Making Policy
The Assooation Invrtes apph.catsor￿ for assistance Irom neety and d8seNng mernters ofth8 Barwho
a￿ or have been in practic8 in England or Wa￿. t￿￿r husbands w wwes. wpdows or wi(k)wers,
chikaren, and dep8ndants. Assistance may trE rrfovidèd to benefioanÈ5 by way of grant or 103n, or a
combination of the
Bèfore any grant ￿ loan is consider&Y tythè Commrttee. applicants 8re wjuired to cOmp￿te a detailed
form setting out their iThYwidual ar0Jmsf3n￿. Vvhere w55ible. ￿ ￿s￿all0￿ will aways seek to
faolitat8 the return to work of the pracbtsoners who have been In substantial fvlkb.me practice prior to
the events occasx)niThJ their ¥pl￿￿On.
Page 8

THE BARRISTERS. BENEVOLENT Ass(￿lATIoN
IA company limited by guarantso)
COIWfryEE IAEM8ERS' REPORT
FOR THE YEAR ENDED 31 DECEhlBER 2020
Reserve$ Policy
The assets oflhèAs￿Jab(￿ are apptybè ts pur￿￿￿ at the ofthe C(mmi￿ wllhout
any distinction t*tween captlal and inwrne. Thp ASsLKYati￿ ha5 totsl fvnds or £12.917.866 12019 -
£12.091.3821 of which £4.299.&5312019- £3,913.5891 in desynated fiJnd5, £226.298
12019- Y235.0981 as tangib￿ ￿e￿ assets army £8.1kn,91312019- £7.251,1941 ts hdd in investmeFts
to conlinue to generate Incorne for the AsS￿t￿n. kavmg 1384,eA)212019- £6￿),￿11 of general f
reserves Vvhilsi tsnder Charity C¢ynmi5sion gumja￿e the chanty'5 investments represe￿t free ￿seP￿s.
the Ccthmittee con5ideF5 thatthe5e ate I￿￿j to geneTate fvtmjs to support its tenefiaarie5 in the future.
Consistentsy with politry to create aThJ tnaifjtain an adequate Lzpilal base. Ihe CL¥nmittee intends.
when opportunity ar￿. to inupa5e reserve5 through income general￿n wth a VEW to maintsining
ihe Associati￿'S total re5eF¥es a￿ve£7.5[￿).(K￿> This reSe￿S is based upon the Committee s
Gonsawsness of the ¢JtffKulties an(J U￿l￿rta￿tie5 whith 5LTrrroufid the futtjre of the profession and the
need to promde k)tv*term asS￿an￿ to a rapKJly grth*in9 fftThker of potenbal benefiuarie5 in
c¥¢UmSts￿es In whith, year on year. Ihere are regrettably and regLtlar subscfibèrs to the
Assouatyon.
Risk Management
The MerniErs cf the Commrttee are 5atisfEd that rnqor and cpet3tiotwl tisks the BBA fa
have been Idèntifi￿ and confirtn that Systems ￿ve been estsbl4sh￿J to enab￿ regukr rsports to be
pr￿￿ead so that Ime necessary steps can be taken to lessen the nsks.
Appfoved by order ofthe Memtws ofthe boaffj ofc0mm￿ee M￿terS on
signed on Ihe1r behalf by"
ItJFIIi a.,
TeTrnce Mowschenson QC
Chairnian
P*ae g

THE BARRISTERS. BENEVOLENT As￿clAn0N
IA Company Limlted by Guarantee)
STATEMENT OF COMMIThEE MEMBERS. RESPONSIBILrnES
FOR THE YEAR ENDED 31 DECEMBER 2020
The Committee Member5 (W￿ are also the Directors of Charity for the purposes of company lawl are
responsible preparing the Commrttee meM￿r5, Rew)rt and the finanaal stslemenls in accordance wlh
applicable law and United lfjngdom Accountr'ng Stsndards Iunrted Kingdom Generally Accepted Accounting
Practice).
Company law requires the Committee Members to prepare finanu81 statements for each financial year. Under
company18W. the Committee Membw5 must not approve the financial statements unless they are satisfied that
they give a true and fair view of the stale of affairs of the Charty and of its incoming resources and application
of resources, including its Ir￿ome and expefftliture. fLY that p￿￿1. In preparing these fin￿CIal ststements, the
Committee MeM￿rS are required lo".
select suétable aCC￿ntIng Wi¢ies arKI then appty them cC￿￿$ten￿y'.
observe the methods and wnuples of the chanb.es SORP IFRS 1021.,
make judgements and accounting estimates that are reasonable and prudent",
slate whether appliCa￿e UK Accounts"ng Standards IFRS 1021 have been fdlowed, subje¢X to any
material departures disclosed and explained in the finanaal statements",
prepare the financjal statements on the going concem basis unless rt 15 inappropriate lo presume that the
Charity wll continue in business.
The Committee Members are responsible keeping adequate accounting records that are sufficient lo show
and explain the Charitys transactions and disclose wih reasonable accuracy at any time the financial Position of
the Charity and enable them to ensure that the finawal statements compty the Companies Act 20W. They
are also responsible for Safeguarding the assets of the Charity and hen￿ for taking reasonable steps for the
prevents.on and detectK)n of fraud and olher irregulanlies.
In $0 faf as the Commtttee Members are aware..
therg is no relevant audit inforrnation of wthich the Charity's audrtor is unaware", and
the Commrttee Members have taken all steps that they ought lo have tsken lo make themselves aware of
any relevant audtt infrxmatson and to establtsh that the auditor is aware of that infomab"on.
Approved by order of the M8mbers of the Committee Board and ggned on rls behalf by".
Terence Mowschenson QC
Chairman
Date..
f/plii
Page 10

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BARRISTERS. BENEVOLENT
ASSOCIATION
Oplnlon
We have audited the financial statements of The Barristers, Benevolent ASSO￿a￿.0n (the 'Charityl the year
ended 31 De￿rnber 2020 which Comprise the Ststement of Finanaal Activities, the Balance Sheet, the
Statement of Cash Flow5 and the related notes. induding a summary of significant accounting policies. The
financial reporting framewjrk that ha5 been applied in their preparation is applicable law and Unrf(ed Kingdom
Accounting StaN*ards, i￿￿tIng Financial Reporting Slandard 102 The Finanual Reporting Standard
applicable in the UK and Republic of Ireland. (United Kingdom Generally Ac¢epted Accounting Practi￿1.
In our opinion the financial statements"
give a true and fair view of the state of the Charitl$ affairs as at 3f December 2020 and of rts in￿Ming
resour￿$ an¢J 8pplication of resources. indL¥JirrfJ rts incA)me and ex￿nditure for the year then ended.,
have been property prepared in aCcOrda￿e Unitecl Kingdorn Ger￿￿lY Accepted AccLwnling
Practice., and
have been wepared in accordance ￿1h the fequirements ofthe Companies Act 20C6.
Basls for oplnion
We condLKted our audit in accordance with Intemational Standards on Audfft"ng IUK) IISAS IUKII and applicable
law. Oui responsibilib'es under Ih)se standards are fvrther described in the Auditors, responsibilrties for the audit
of the financial statements section of our report. We ale independent of the charitsble company in accordance
wlh the ethical requirements that are rdevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical
responsibilib'es in accordance wth these requirements. We believe that the audrt evidence we have obtained is
suffiaent and apr￿priate to providè a basis for our winion.
Conclusions relatlng to going concem
In auditing the financial statements, we have concluded that the Committee Members, use of the going cOn￿M
basis of accounb.ng in the P￿paratIon of the financial statements is appropriate.
Based on the work we have perfomied, we have rK)t ldenb.fied any material uncertainties Telatirg to events or
conditsons that, individually of colleth"vety. may (ast significant doubt on the charitable compan¥s ability lo
nlinue as a gcing concem for a p￿￿)d of at least I￿1ve months from when the finanual ststernents are
authorised for issue.
Our reswnsibiSilies and the responsibilrties of the Commrttee Members V**h respect lo going concem are
described in the relevant sections of this report.
Page11

THE 8ARRISTERS' BENEVOLENT ASSOCIATION
{A Company Llrnltgd by Guarantsel
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BARRISTERS, BENEVOLENT
ASSOCIATION ICONTINUEDI
other infomiation
The Committee Members are responsible for the other inform*ion. The other information comprises the
information included in the Committee Members. Report, other than the financial ststemenls and our Auditors.
Report Ihereon. Our opinion on the financial statements d￿S not cover the other infotmth.on and. except lo the
extent otherwise explicrtly st*d in our reFixl. ￿ do not exyess any fomi of assurance condusion thereon.
In connection with our aLKlit of the financial s&￿eMentS. our responsibilrty is to read the crther information and, in
doing so. consider whelhei the other information is materially inconsistent with the financial statements or our
knO￿edge obtained in the audit or otherwse apFears lo be Materially misstated. If we idenb.fy such material
incon&stÈnoes or apparent Tnalerial misstatemenls. we a￿ required to determine whether there is a material
misstatement in the fina[K￿l statements or a material misstatement of the other Informats'on. If, based on the
vlork we have performed. we condude that there is a material misslatement of this Other informth'on, we are
required to rewrt that facl.
We have nothiThJ to report in this regard.
Oplnion on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the wcKk undertaken in Ihe course of the audit..
the infomialion given in the Committee Members, Rep￿t foy the finanual year for sthich the financial
statements are prepared is ¢onsislent wth the financial stslements.
the Committee Members, ReFQrt has been prepared in accordance applicable legal requirements.
Mattars on which we are required to rnport by excepllon
In the light of our k￿)v￿edge and understanding of the ¢harttable company and its environment obtained in the
course of the audit. we have rnl idents'fied m*erial misststement5 in the Committee Mernbers, ReF<)rt.
We have nothing to report in respeet of the followng matters in relab.on to vknich Companies Ad 2006 roquires
us lo report to you if, in our opinion".
adequate acccAJnting reeords have not kept. or Tetums ajequate for our audit have not i*en
received from brand)es not visrted by us", Ix
the finanual statements are not in agreement Ihe a¢counh"ng records and retums", or
certain disclosures of Commtttee Members. remuneration speofied by law are not made., or
we have not re￿iVed all the infomialion and expL4nalions we require for our audit". or
the Committee Members were Th)l entided lo prepare the financial statements in a￿OrdanCe with the
small companies regime and tske advantage of the small companies, exemptions in preparing the
Commitiee Members. Report and from the requirement to prepare a Strategi¢ Report.
Page 12

ThE BARRISTERS. BENEVOLEprr ASSOCIATION
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO ThE MEMBERS OF THE BARRISTERS. BENEVOLENT
ASSOCIATION ICONTINUEDI
Responsiblllties of Committeè Members
As explained more fully in the Statement of Committee Members, Responsibilities. the Commrttee Members
(who are also the Directors of the ¢haritable company for the purposes of Company lawl are resp)nsible for the
preparation of the fina￿la1 statements and being satisfied that they give a true and fair view, and for such
intemal control as the Committee Members determine is necessary lo enable the prepaiation of financial
slalements that are Iree from matenal misstalem8nl. whether due lo fraud c¥ error.
In preparing the finarrial statements. the Committee Mernbers are reSponsi￿e for assessing the charitable
companls abilty lo continue as a going concem. disck)sing, as ar4)lieable. matters related lo going ￿nCern
and using the going concem basis of accounb.ng unless the Commrttee Members erther intend to liquidate the
charitable company 01 to cease opwakn"ons. or have no realisb"c altemab.ve bjt to do so.
Audltofs. r8sponsibilities for the audit of th¥ flnanclal statsments
Our objectFves are lo obtain reasorthle assurance about whather the financial statements as a whole are free
from material misstatement, whether due to fraud or error, aThJ to 15sue an Audrtors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wth ISAS IUKI wll detert a material Misstateme￿ ￿en rt exists. Misslalements can arise
from fraud CK error and are considered material if. individualty or in the aggregate. they could reasonably be
expected lo influence the econtynic deasion5 of users taken on the basis of these financial statements.
Irregularf(ies, including fraud, are instances of non-compliance wth laws and regulations. We desgn
procedures in line with our responsibilitses. outlined above, to detect material mi55tatemenls in respect of
irregularibes, induding fraud. extent to vthich our r￿Oced[￿es are capable of dete¢tsng irregularrties,
including fraud is detsiled below-.
Enquiry of management and tIKJse charged vth governar￿ around actual and potential litigation and
claims..
Enquiry of entty staff in tax arKI Complian￿ funclions to identify any instances of non-compliance wth laws
and regulations..
Performing audit work over the risk of management override of controls. induding testing of joumal entn.es
and other adjustments for approwiateness, evaluating the business rationale of significant transactions
outside nomal course of business and ￿vIewIng accourth'ng ests"mates for bias,"
Reviewing minutes ol meetings of those t*arged wth governan￿,
Reviewing financial statement disck)sures and testing to supF#Nling documentat￿ lo assess compliance
th applicable laws and regulattons.
Because of the inherent limrtations of an audit, there is a risk that we sMII Th)t detect all irregLJlarilies, including
those leading to a material misstatement in the financial statements or nOr￿complIance ￿th regulation. This risk
increases the more that compliance I￿1h a law ￿ regulation Is Temoved from the events and transactions
reflected in the financial Statements. as we wll tr* ￿s5 likely to b￿rne aware of inslances of non-complian￿.
The risk Is also greater regarding Irregular￿eS occurring due lo fraud rather than error. as fraud involves
inlents.onal concealmenL forgery, collusion, omission or miSreprese￿att0n.
A further description of our reSP￿S4b11rt1es for the audit of the financial statements is located on the Financial
Reporting Council's websrte at.. www.frc.
.uklaudrtorsre5
Audrtors. Report.
ibilrties. This description fomis part of our
Page 13

THE BARRISTERS. BENEVOLEi¥f ASSOCIATION
IA Company Limlted by Guarantee}
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BARRISTERS. BENEVOLENT
ASSOCIATION {CONTINUEDI
Use of our report
This report is made solely to the Chantys Members, as a tKKly, in accordarKe with Chapter 3 of Part 16 of the
Companies 2006. OUT audit V￿rk has been undertaken so that we might sLite to the Charitys Members
those matters we are required to Stale to them in an A￿l￿orS, Report and for no other purpose. To the fullest
extent pem)rtted by law. we (tr) not accept or assume reswnsibility lo anyone other than the Charity and its
Members. as a body, for our audrt work, for this report, or for the opinions we have fom)ed.
£dL
Sudhif Singh FCA (Senior Statutory Audltor)
for and on behalf of
MHA Maclntyre Hudson
Chartered Accountants
Statutory Athlitor
6th Flcx)r
2 London Wall Place
London
EC2Y SAU
Date.. 19 August 2021
Page 14

THE BARRISTERS. BENEVOLEKf AsSoc￿n0N
IA Company Llmlted by Guarantee)
STATEMENT OF FINANCIAL AGTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUPffj
FOR THE YEAR ENDED 31 DECEMBER 2020
Total
funds
2020
Total
fvnds
2019
funds
2020
Note
Income from:
Donations and legaaes
Investment incorne
Other income
1,546,437
290.367
6.636
1.546.437
290,367
6,636
290,753
271,764
7,020
Total incom•
Expendlture on:
Raisng lunds
Charitable ac*vilies
1.843,440
1.843,440
569,537
36,821
1,254,149
36,821
1,2S4,149
35,231
392,614
Total expenditure
1.290,970
1,290,970
427,845
Nel gains on investments
12
275.014
275.014
849,739
Net movement In funds
Reconc511atlon of funds..
Total fvnds brO￿t forward
Net movement in fvnds
827,484
827.484
991,431
12.090,382
827,484
12.090.382
827.484
11.098,951
991,431
Total fund$ carrled fornard
12,917.886
12.917,866
12,090,382
The Stslement of Financial Aclivibes indudes all gains and k)sses recognised in the year.
All income and expeThYiture derive from continuing act￿llIeS.
The notes on pages 18 to 37 form part of these finanaal statements.
Page 15

THE BARRISTERS, BENEVOLENT ASSttIATION
IA Company Lirnited by Guatantgèl
REGISTERED NUMBER: 05284271
&4LANCE SHEET
AS AT 31 DECEMBER 2020
2020
2020
2019
2019
Flxed asstts
Tangible assds
Investments
11
226.298
8,006,913
235,Q98
7.251,194
12
6.233.211
7 486,292
Current assets
Prograrnme related imfestm8nls-
ConcesSi￿ry l(pns
Debtors
Cash at bank and in harN
13
3,854,095
132.210
716,645
3.913589
14
18
583.885
4.7Q2.950
4618.916
Credffofs". aTnourts fallir¥J due with"n
year
15
1182951
114.8261
Net current assets
4.684,655
4.604.09Q
Total net assets
12,917,866
12 C130,382
Charity fvnds
Lln¥eskncled funds
16
12,917.866
12.090.382
Totsl fvnds
12,917.886
12.OQO.382
The Commrtlee MetHbef5 ackr40wle(Ige th*r res1xTr￿b1￿t1es frir cc￿￿￿Y￿g wth the rewirernerts of th6
Comparhes A¢1201￿ restect to ￿0￿ntIng r￿N￿S arxj pYeparat¢on ol ￿an￿3{ slatements.
The financia ststements h3we prepared in accwlarkGe vfjth the promgons appliraDl2 to enttiies subiect to
the small companies tegime
The finar￿￿1 stat8ma*s kwe appro￿1 a￿￿"¥e￿ for by CixnfflittÈe Members and signed c
their behalf by".
Terpnce m0￿chenson QC
ChaimaTr
Date.
19 17111
The rM3tes on pages 18 to 37 lom part oftlw fiTra￿￿ statemwts.
PagE 16

THE BARRISTERS. BENE¥lOLENT ASSOCIATION
{A Cornpany Llmlted by Guardnteel
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2020
2020
2019
Note
Cash flov4B from Opera￿ng actlvrties
Net cash used in operating ackn"vities
17
323,098
1322,3961
Cash flo*s frorn 5nv8Stlng activitl8S
Income from investments
Purchase of tangible fixed assets
PrO￿ert$ from sae of investments
Purchase of investments
290.367
271.764
{10,5601
2,147.331
1,030,402
{2.628,0361 11,162,034)
12
12
Net cash (used in)Iprovlded by invesllng activities
1190.3381
129,572
Change in cash and cash equivalents Sn the yèar
Cash and cash equivalents at the beginnirrfJ of the yeai
132.760
1192.8241
776,709
583.885
Cash and cash equivalents at the end of the year
18
716.645
583,885
notes on pages 18 10 37 form part ofthese financial stslements.
Page 17

THE BARRISTERS. BENEVOLEKf ASSOCIAnoN
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Accounting poll¢les
1.1 Genoral infomiatlon
The Charty is a Company limited by guarantee and is registered the Charty Commission
(Charity Regislere(J Number 11(K7681 and Registrar of Companies Icompany Registration Number
052842711
The Members of the company are the Commrttee Members named on page 1 In the event of the
Chanty being wound up. the liabilty in respect of the guarantee is lim(ted to £1 per Member of the
Charity.
The a(Idress of the registered off￿ is given in the Charty inf(Kmation C￿ page 1 of these financial
slalemenls. The nature of the Chanvs operations and priwpal activrties are listed in the Committee
Members, Report.
1.2 Basis of preparntion of flnanc(al statements
The financial statements have ￿en prepared in accordance wth the Charib'es SORP IFRS 102} -
Accounting and Reporh"ng by Charitie5. Statement of Recommended Pr￿ice applicable to charities
preparing their ac￿nts in aIxordan￿ wth the Finanaal Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102). the Financial Rewting Standard applicable in the UK and
Republic of Ire1ar￿ IFRS 1021 and ts Companies Act 20(￿.
The Barristers. Benev(Aent Association meets the deffinttion of a public benefit entity Lmder FRS 102.
Assets and liabilities are inthally recognised at historic￿ cost or transaction value unless otherwse
51ated in the relevant accounb.ng pMJlicy.
The finanaal statements are presented in sterfing is the fijnclional cUrre￿Y of the Charty and
rOur￿e￿ to the nearest pound.
1.3 Going concern
The Committee Members have assessed the use of going concern and have considered possible
events or conditths that might cast Significant (kTrubt on the ability of the Charity to conts.nue as a
ing con￿rn including the impact of COVID-19. The Committee Members have made this
assessment for a per￿ of at least one year from the date of the approval of these Financial
Statements. The Committee Members have conduded that there is a reasonable èxpectation that
the Charity ha5 adequate resources to continue in operational existence for the foreseeable future.
The Chanty therefore continues to ad¢Jpt the going concem basis in preparing its Fin8n¢i81
Statements.
P4e 18

ThE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Accourrting policies Iconllnued)
1.4 Incon
All irrome is recr*Jnised On￿ the Charity has entruement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
The recognrtion of income from legacies is deperKlent on esta￿l$hing enlTUemenl. the probability of
receipt and the ability to estimate suffitrAenl accuracy the amount receivable. Evidence of
entidement lo a legacy exists when the Charity has SLtffiaent eviden￿ that a grft has been left to
them Ithrcxjgh krvjvledge of the existence of a valid wll and the death of the benefactor) and the
executor is satisfied that the propety in question wll not be r￿Ul[ed to satisfy claims in the estate.
Receipt of a legacy must be recognised %then it is probable that il wll be received and the fair value
of the amount receivable. which wll generally trk the expected cash amount to be distributed lo the
Charity, can be raliably measured.
Grants are included in the Statement of Financial Activibes on a rg¢eivaLle basis. The balance of
ncome received for specific purposes but n(rt expeThYed during the period is shown in the relevant
funds on the Balance Sheet Where ir￿orne is received in advan￿ of entiuement of receipt, ils
recognition is deferred and included in creditors as deferred income. Where enlillemenl occurs
befo￿ in¢ome is re￿ived. the income is accrued.
For donations to be recogni5ed the Chty will have been notified of the amounts and the settlement
date in writing. If there are conditions attached lo the donats'on and this requires a level of
performance before enlrtlement can be obtained then income is deferred until Ih05e conditions are
fully mel or the fuifillment of those condrtions is wthin the control of the Charity and it 15 probable that
they will te fulfilled.
On receipt. donated professional services arKI facilth'es are recogn15ed on the basis of the value of
the grft to the Charty vknich is Ihe amounl it would have been wlling to pay lo obtsin services or
facilits"e5 of equivalent economic tenefrt on the open market.. a corresponding amount is then
reco9nised in expenditure in the period of receipt.
In¢ome lax recoverable in ￿lab"On to donations rewve(l undw Gift or deeds of covenant is
recognised at the lime of the th)nab"on.
Income tsx re¢over8L4e in relatbon to irwestmenl income is r8cognised at the time the investment
income is r￿l¥able.
Other income is recognised in the pemd in ￿lch it is reC￿VatIe and to the extent the goods have
been prowded or on cOM￿ets0n ofthe servi￿.
Page 19

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Accounting policles Icontlnued}
1.5 Expenditure
All expenditure is accounted on an accruals basis and has classffied under headings that
aggregate all Costs related lo that category. ExpeTrJrture is re¢(yJnised On￿ there is a legal or
constructive obligation to transfer economic benefit lo a third party. rt Is probable that a transfer of
economic beneff(s will be required in settlement and the amount of the obligation can be measured
reliably. Expendrture is dassffieil by actsvity. The costs of each acbvity are made up of the total of
direct costs shared costs. including SLtpport Costs Involved in undertaking each activity. Direct
costs attributable to a single &tMty are allocated directty to that a¢tiwty. Shared costs which
contribute to more than one a¢tivrty ar¥J suptort costs which are not attnbutable to a single aclivty
are apporti￿ed between those actNrties on a basis consistent wth the use of resources. Central
staff costs are all(Kated on the basis of time spent, and depreciation charges allocated on the
pO￿"on ofthe asset's use.
Expenditure on raising ftJnd5 includes all exFEnditure incurre(J by the Charrty to raise ftjnds for ils
charitable purposes and indude5 Costs of all fU￿￿raISng activrties events and non-chaTltable trading.
Expenditure on charitsble activrties is i￿Urred on directy undertaking the activrties which further the
Chartys oty'ectives, as well as any a$￿)Liated support costs.
Grants payable are charged in the year when the offer is maje except in tI￿Se rAses where the
offer is conditional. such grants teing recognised as expenditure when the conc*itlDns attathing a
fulfilled. Grants offered subjecl to conditicms vthsch have ￿t been met at the year end ar8 noted as a
Commitment, but not ac(nJed as exFenditure.
All exF*ndrture is inclusive of irrecoverable VAT.
1.6 Forelgn currencies
Foreign ¢urrency transacti￿$ are inrtialty reccgnised by apFlying to the foreign currency amount the
spot exchange rale bety￿en the fU￿b"Onal 0Jrrer￿Y and the foreign currency at the Balance Sheet
date of the trans8¢b"on.
Monetary assets and liabilrties denominated in foreign currencies are translated into steding al rates
of exchange ruling al the Balan￿ Sheet date.
Exchange gains and losses a￿ rec(MJnised in the Statement of Finanaal Activities.
1.7 Taxation
The Charity is conshdered to pass the tests set ¢yJt in Paragraph 1 SGhedule 6 of the Finance Act
2010 and th￿efOre rt meets the definrtion of a charrtable ccmnpany for UK corporats.on tax purposes.
Accordingly, the Charity is tK>tenlialty exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the CorporalK)n Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are
applied exclusvety to charitable purposes.
Page 20

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMEPffiS
FOR THE YEAR ENDED 31 DECEMBER 2020
Ac¢ounting pollclas l¢ontInu￿)
1.8 Tanglble flxed assets and deprectation
Tangible fixed assets costing £500 or more are ￿prtali$ed recognised when ￿tUre economic
benefits are probable aThJ the cost or value of the asset be measured reliably.
Tangl￿e fixed assets are inrtialty recognised at cost. After rocrN3nilN)n, uThler the cost model.
tangible fixed assets are measured at cost le$5 accumulated depreciation and any accumulated
impairment losses. All ¢osls inGLFrred to bring a tangi￿e fixed assel into its intended working
condrtion should be included in measurement of cost.
Depwation 13 charged so as to 8lbcate the cost of tangible fixed assets less their residual value
over their estimated usefvl INes, using the straight-11￿ method.
Depreaalion is provided ￿ the foliowng bases..
Leasehold propety
Fixtures and fittings
Computer equipment
2% straight line on cost of building
15% straight14ne
20% straight line
1.9 Investments
Fixed asset investments are a forn) of financ￿1 instrument aThJ are In￿'allY recognised al their
tranS￿b.on Cost and subsequenrfy measured al tsir value usirKJ the closirKJ quoted market price. All
gains and losses are tsken to the Slalement of Financial Actiw"ties as they arise_
The Ststement of Finanual A¢tivtbes Fndudes the net gains and losses arising on revaluath)ns and
disposals throughout the year. As investments are revalued lo f•r value continually. realised
gains or105ses arise.
The fair value of listed investments 15 delemiined by reference to the qwted price for identical
assets in an acts've market at the Balants Sheet date.
Soual investments include programme rdated investments wknirh are those held to further our
thantthe purposes. Programme related investrnents indude conces￿Onary loans to third partiès.
1.10 Concesslonary loans
cor￿esSIOnary loans indude those receivable to Ihird parties vthith are interest free or below market
interest rates and are madè to advan￿ charitable purposes. Where the loan is repayable on
demand bmthin one year. the knan is measured at cosl, less Impaimient. Where the loan is repayable
more than one year, the loan is initially measured al fair value and subsequently measured at
amorb.sed cost using the effec*ve interest rale methcKJ. less impaitment.
1.11 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepaymenls are valL￿d at the amount prepaid net of any trade discounts due.
Page21

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
A¢¢ountlng policies f¢ontlnued)
1.12 Liabilities and provisions
Liatslth'es are recognised when Ihere is an obligation at the Balance Sheet dale as a result of a past
event, it is probat4e that a transfer of economic benefft will be required in settlement, and the
amount of the settlement can te estimated ￿lIablY.
Lialilth'es are recognised at t1￿ am(yJnl that Chanty antiapates it wll pay to selue the debt or the
amount rt has received as advanced payments for the g(KMJs or services it must provide.
Provisic>ns are measured at the ￿st estimate of the amounts required lo settle the obligation. lthere
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted al the pr&lax discount rate th* ￿ects the risks specific lo the liabilrty. The
unTrMnding of the (Jiscounl is recognised in the Statement of Finanaal Activities as a finan￿ cost.
1.13 Financlal Instruments
The Charty does not have a material holding in ￿m[leX finanaal instruments. The Charity only
holds basic Financral Instruments. The finamal assets and finarrial liabil￿"eS of the Charity ara as
follows."
Debtors - trade and other debtors lirKluding accrued irthmel are basic financial instruments and
are debt instruments measured at aM￿￿sed cost as detailed in Note 14. Prepayments are not
finan￿al instruments.
Cash at bank- is ciassrfied as a bas¢c ffinanu81 instwment and is measured at faee value.
Liatylrties - trade Creditors, accruals and other creditors V*ill be classffied as financial Instruments,
and are measured at aM0￿.sed cost a5 detailed in Note 15. Taxation and 50oal securty are not
ineluded in the finanaal instruments disclosure. Deferred inc(Mne Is not deemed to be a financial
liabilty. as in the cash settlement has already taken place and there is simpty an obligation to deliver
charitable Services rather than cash or arKJlhef financial instrument.
1.14 Operatlng leases
Rentals paid under operab.ng leases are ctrBrged lo the Statement of Financial Activities on a
slraighl line basis over the lease term.
1.15 Penslons
The Charty is committed to promding pensions to ffmer members of staff at an agreed rale on
reliiemenl of the employee. The cost of woviding these pension5 is included in the Statement of
Finanaal Activrties as it is In￿l￿ed_
Page 22

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
A¢countSng polkies (continued}
1.16 Fund accounting
General funds are unrestn.cted furvjs vthich are available for use at the discretion of the Committee
Members in furthefance of the general 04'ecb"ves of the Charity and vthich have not been designated
for other purposes.
Designated funds comprise unresthcted funds that have been set aside by the Committee Members
for particular purposes. The aim and use of each de￿"gnated fund is set in the notes to the
rinancial statements.
Investment income, gains and105ses are alloc2ted to the appropriate fvnd.
1.17 Judgements and key sources of ostlm•tion uncertainty
The followng judgements {apart from those involving estimatesl have been made in the process of
applying the atK)ve a¢¢(wnling policies that have had the most significant effect on amounts
recognised in the fina￿la1 ststements..
Basis of valuth.on of finanoal instruments
loGalion ol support costs
The useful economic lrfe of tangible fixed assets and the depreciatN)n rates applied
Impairnient of prffjramme related investments l u)nces￿onary loans.
Page 23

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Income from donatlons and legacies
Unrestricted
funds
2020
Total
fvnds
2020
Donat"ons- general
Legacies
Donat'ons received from speryfic insb"tUt￿nS
640,149
640,149
906,288
906,288
Total 2020
1,546,437
1,546,437
An analyws of donab.ons received ¥*csfic instrtuts.ons is shown in Note 3.
Unrestricted
hjnds
2019
Total
lunds
2019
Donations- general
Legacies
Donations receNed from sp&ffic institulions
203,218
21Q
87,325
203.218
210
87,325
Tolal 2019
290,753
290.753
Page 24

THE BARRISTERS. BENEVOLENT ASSOCIATION
{A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Donatlons rtteived from specific institutlons
2020
2019
Honourable Soaety of Inner TeM￿e (Covid Appeal £100,000)
HonoLJrable Society of Middle Temple (Covid Appeal £100,(￿)
HonoLJrable Society of LinccAn's Inn (Covid ApFeal £100,000)
Honourable Society of Gray's Inn (Covid Appeal £100,000)
9 Gough Square
2 Bedford Square
Westem Circuit Lodge Icovid A￿al}
One Crown offi￿ Row
SA Brunlon
Solev Co Ltd (Covid Appeal)
Landmark Chaml%r5
Wilberforce Chamkrs
Quadrant Chambers
Matrix Chamb￿$
Falcon Chambers
Essex Court Chambers {co￿d AppEall
Cloth Fair Chambers {Covid Appeal)
Old squa￿ Chambers Icovid Ap￿all
Bar Goll S¢xiety
5RB (Covid Appeal)
1 GC Management Limited
3VB Services Limited
Chancery Bar Assooats"on (Covid Appeal)
MidlaThJ Chancèry Bar A55ociab'on (Covid Appeal)
Commerical Bar Association (Covid Appeal)
Personal Injuries Bar A550cralion Icovid Appeal)
Queens Council Appotnlments Icovid Appeal)
In Memory of WThlliam Jame5 Clover
In Memory of Patrick Perkins
The Yves Guihannec Foundab"on {Covid Appea)
Bar Mutual Fund ICOVHJ Appe￿)
Paypal Giving Fund
The Band Trust
G and K Boyes Charrtalje Trust ICOVKI AFveal)
Bar Counal
110.000
120,250
132,0(10
120.IX)O
10,250
20,250
32,000
382
500
4,305
750
20
250
250
250
250
3,OCKI
20.IXNJ
10.000
1,524
250
16
30.000
2.000
30,000
6,500
100,000
130
10.000
10,000
100.000
272
2.000
100.000
1.714
906.288
87,325
Page 25

THE BARRISTERS, BENEVOLENT ASSOCIATION
(A Company Umlted by Guarantee)
NOTES TO THE FINANCIAL STATEMEpirs
FOR THE YEAR ENDED 31 DECEMBER 2020
Income Irom investments
Unrestricted
funds
2020
Total
funds
2020
Dividends interest on invesknents
Interest on loans
Bank Inte￿$t receivable
169,049
120,798
520
169,049
120,798
520
Totsl 2020
290,367
290,367
Unrestricted
funds
2019
Total
funds
2019
Dividends ￿ inlerest on investments
InleTest on loans
Bank interest receivable
265,417
5,725
622
265,417
5,725
622
Total 2019
271,764
271,764
Other incomè
Unrestrkted
funds
2020
Total
funds
2020
Rentsl income
6.636
6.636
Unrestrtcled
ftjnds
2019
Total
funds
2019
Rentd income
7,020
7,020
Page 26

THE BARRISTERS. BENEVOLENT ASSOCIATION
(A Company Llmited by Guarnntee)
NOTES TO THE FINAhlCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Expendlture on raislng funds
Unrestricted
funds
2020
Total
funds
2020
Investment management costs
36,821
36.821
unrestn.cted
funds
2019
Total
fvnds
2019
Investmènt management costs
35.231
35,231
Page 27

THE BARRISTERS, BENEVOLENT ASSOCIAnoN
{A Company Limited by Guarantee)
NOTES TO THE FINA14CIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Anaty$ls of expenditure on Charltsble activiti8S
Activltles
undÈrtaken
dlrectty
2020
Grant
funding of
activities
2020
Support
costs
2020
Totsl
lunds
2020
Grant giving
5.100
996.545
252,504
1,254,149
Activities
undertaken
direcdy
2019
Grant
fvntling of
activrties
2019
Support
costs
2019
Total
funds
2019
Grant gwing
18,400
149.007
225,207
392,614
In both the Current arKI previous year. all gr￿ funding of activit￿5 We￿ to irhyividuals.
Page 28

THE BARRISTERS. BENEVOLEPU ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Analysis of expenditurg on chafltable actlvltles Icontlnuedl
Analysis of support costs
Total
funds
2020
Total
nds
2019
Staff costs
Depreciation
Rent and rates
Offi￿ cjeaning, electriiity. insurance. m￿ntenan￿ and water
Pn.r￿.ng, postage, stationery and appeas
Telephone
Advert15ing
Computer consultants
Bank charges
Consultancy costs
Subscnption5
Sundry expenses
cOn￿SSiOnary loans impaimient
Govemance ¢05ts
Staff IrainiThJ
112.967
8.800
40,674
6,104
2,006
2.927
5.890
23.115
1,375
4,400
1,200
728
111,233
7,116
2,321
13,007
3,264
3,283
6,701
24,226
1,110
6.861
1.944
98
6,638
36,978
427
42.318
252,504
225,207
Governance costs
2020
2019
Leg81 and professional fee5
Auditors, remuneration - Audit of the financial statements
Auditors, remuneration - Other services
Auditors, remuneration - Under accnJal of rrrior yeai fees
30.078
7,600
23,528
7,60Q
2.10Q
3.75Q
42,318
36,978
Page 29

THE BARRISTERS. BENEVOLEKf AssocNnoN
IA Company Llmtted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Staff costs
2020
2019
Wages and salaries
Social se(JJrity costs
Pension costs
81.856
5.799
25.312
80,485
6,049
24,699
112.967
111,233
The average number of ￿rSOnS &nployed by the ChaTrty during the year was as fc4bws'.
2020
No.
2019
No.
Adminislralion
No employee received remuneration am(yJnling lo more than £60.CW in either year.
10. Cofflmitt88 Momber5' remuneratlon and expenses
During the year. no Commrttee Members. who are consKlewed to be the Key Management Personnel of
the Charity. received any remunerakn.on LK other t*nefits12019- £NILI.
During the year ended 31 Decemttr 2020, no Cc4nmrttee Member expenses have b8en i￿Urred(20lg -
£NIL}
Page 30

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
11. Tangible fixed assets
FIx￿rns and
fittings
Computer
equipment
Total
Cost or valuation
At 1 January 2020
304.950
33,838
13.505
352,293
At 31 December 2020
304,950
33.838
13.505
3S2.293
DepreclaUon
Al 1 January 2020
Charge for the year
82,190
6.099
33.838
1,167
2,701
117.195
8.800
At 31 December 2020
88.289
33.838
3.868
125,995
Net book value
At 31 December 2020
216,661
9.637
226,298
At 31 December 2019
222,760
12.338
235,098
l fixed asse15 are held for use by the Charsty.
The Assochgtion has an interest in properties lone freelKTrld and ore le8sehold fiatl ¥there ownership
has been transferred to the Assoa'aticm by beneriaar￿S ofthe Charty.
12.
Flxed asset investments
Li$ted
inv8stmÈnts
Valuatlon
Al 1 January 2020
Addrtions 81 cost
Disposals #l carying value
Rev8lualions
7.251.194
2.628.036
12.147.331)
275.014
At 31 Decem￿r 2020
8.006.913
Page 31

THE BARRISTERS. BENEVOLENT ASSOCIATION
{A Company Limited ty Guarant891
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
13. Programme related investments - Concessionary loans
2020
2019
Loans lo benefiuaries
3,854,095
3,913,589
2020
2019
Loans at 1 January
Loans granted in the year
Loans repaid in the year
Loan impaimient tharges
3.913.589
132,673
1192,1671
3.799,767
309,837
1189,3771
16,6381
Loans at 31 Decemb•r
3.854,095
3,913,589
The above balances include an element of loans rep8yat4e in MO￿ than c￿e year. this is agreed on an
annual bags and is therefore rK)t quanbfiable al this time_
Where possible, loans a￿ secured on the benefiaarys property. Interest is charged on secured loans al
a rate of 1% plus base rate. No intefest is charged on unse¢ured loans.
14. Debtors
2020
2019
Due wlthln one year
Other debtors
Prepayments and accrued income
Dividends and interest reeeivable
3,688
74804
53.818
3,404
53,484
64,554
132,210
121,442
Page 32

THE BARRISTERS, BENEVOLEpif ASSOCIATION
IA Company Llmlted by Guaranleel
NOTES TO THE FINANCIAL STATEmE1￿s
FOR THE YEAR ENDED 31 DECEMBER 2020
15. Creditor5: Amounts falling due wlthln ¢)ne year
2020
2019
Trade (*editor5
Other creditors
A¢cruals
733
1,106
280
13,440
708
16.854
18.295
14,826
P￿e 33

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company LimÈted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
16. Statement of funds
Statement of funds- Cufrent year
Balan¢¢ at
31
Gainsl DKember
(Losses)
2020
Balance at 1
January
2020
Transfers
inlout
Income Expendlture
Deslgnated
funds
Funds
designated for
loans
COVID fijnd
3.913.589
159.4941
so,000
3,854096
445,758
1.242,568
1846.8101
3.913,589
1.242,568
1846.8101
(9A941
4,299,8S3
General funds
General funds
8.176,793
600,872
1444.1601
275.014
8,618,013
Totsl
Unrestricted
funds
12.090,382
1.843,440 11.290.970)
275.014 12,917,886
G8neral furKls are hjnds which Can be used in aCC￿dan￿ V*7th tho charitable objects at the discretion of
the Committee Board.
Designated fuThJs are sel a5Kle by the Commrtt* Memters ￿t of the unrestricted ge￿ra1 funds for
specific future purposes.
The fund designated for concessionary loans vras set up to recognise the fvnds committed to loans lo
beneficiaries.
The transfer bets¥een fund5 represents the net movernent durirKJ year befv￿en loans granted in
Ihe year less amounts repaid and Impaired during the year on the loans to beneficiarie5.
The COVID fund rdates lo fvNls set ashde by the Committee Members in connection wth appeals made
for member5 of the Bar and their dependanls have contracted the coronavirus and are unable lo
support theMse￿eS and their families as well as those members, parb"culady bul not exdusively, do
publidy funded work. who find themselves in difficulty.
Page 34

THE BARRISTERS. BENEVOLE1￿ ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
16. Staternent of funds Icontinuedl
Statement of funds - prior year
Balance at
31
December
2019
Balance at
1 January
2019
Transfers
inlout
Gainsl
(Losses)
Income Expendrture
Designated
funds
Funds
designate(I for
loans
3.799.767
113,822
3,913,589
General funds
General furKIs
7.299.184
569.537
1427.8451
1113,8221
849,739
8,176.793
Total
Unrestricted
funds
11,098,951
569.537
1427.8451
849.739 12,090,382
Page 35

THE BARRISTERS. BENEVOLE1￿ AssocNnoN
{A Company Limited by Guardnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
17.
Reconclllatlon of net movgment In funds to net cash flow from operating activltl
2020
2019
Net income fo¥ the period la$ Stslement of Finanual Activiti'es)
827,484
991,431
Adjustments for.
Depreciation charges
Net gains on investmerrts
Income from investments
Decreasellincreasel in programme ￿lated investments
Increase in debtors
Increaselldecreasel In creditors
8,800
{275,0141
{290,3671
59,494
{10,7681
3,469
7.116
1849.739}
1271.7641
1113,8221
173,7311
111,8871
12
13
14
15
Net cash pro¥lded byl{used In) operating actlvltl8s
323,098
1322.3961
18. Analys1$ of cash and cash gqulvalents
2020
2019
Cash in hand
716,64S
583,885
Totsl cash and cash equlvalents
716,645
583.885
19. Analysls of changes in net debt
At1
January
2020 Cash flows
At31
December
2020
Cash at bank and in hand
583.885
132.760
716,645
Page 36

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limlted by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
20.
Pension commltments
The Chanty is ComM￿ed to paw.ng pen￿OnS to former staff. totaling £1,77512019 - È1.7751 per month,
for which no prowsion has been made in the finarrial statement5.
The amount recognised as an expense in the year was £25.312 (2019 - £24,6991. There were no
contributions payable lo the fund at the Balan￿ Sheet dale {2019 - £NIL}.
21. Operatlng lease commltments
Al 31 December 2020 the Charty had commitsnerts to make future minimum lease payinenls under non-
cancellable operating leases 85 follows..
2020
2019
Not later than 1 year
Later than 1 year and not laler than 5 years
36.208
$4,312
90,520
The fdlowng lease payrnents have Ixen recognise(l as an expense in the Staternenl of Fina￿la1
Activits"es.'
2020
2019
Operab'ng lease rentals
18.788
22.
Related party tran5ac*ions
There I￿re no rdated party transactions durTrng thè year other than Committee Members making
unrestrFCted donalK)ns of £13.41012019 - £7.135} to the Charrty.
If a Committee Member knthys an ap￿1¢an1, then they are not invthed in the decision making process in
regards to agreeing loans or grant applicatkMS.
Page 37