Company Registration Number.. 05284271
Charlty Registratlon Numb9r: 1106768
THE BARRISTERS. BENEVOLENT ASSOCIATION
(A Company Limited by Guarantee)
COMMIThEE MEMBERS. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmlted by Guaranteg)
CONTENTS
Page
Reference and Administrative Details of the Charlty, Its Commlttoè Members and
Advlsers
Chairman'5 Statement
Commlttee Membèrs. R•port
Statement of Commlttee Members. Responsibilities
Independent Auditors. Report on the Flnancial Statements
10-13
statement of Financial A¢tlvltlos
14
Balance Sheet
15
Statement of Cash Flows
16
Notas to the Financial Statements
17-36

THE BARRISTERS. BEN84OLENT ASSOCIATION
{A Company Llmltad by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS COMMIThEE MEMBERS AND
ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2021
Commlttee Membèrs
TeienGe Mowschenson QC. Chairman
David Phillips QC, Honorary Treasurer
Raymond Cox QC, Treasurer
Sara Hargreaves. Honorary Secretary
The Rl. Hon. The Lord Saville of Newdig8le, Member
His Honour Judgè John Hillen. Member Iresigned 11 June 20211
Helen Valley, Member (appointed 26 July 2021}
Jeffrey Israel, Member lappoinled 26 July 20211
Alexander Learmonth QC, Member
Graeme Halkerslon. Membei
Angus Mccullough QC, Mernber
Jonathan Tod, Member
Master Roger Eastman, Member
Daniel Toledano QC, Member
Christopher Stephenson, Member
Shabeena Azhar-mole, Member
Teertha Gupta QC, Member
Cornpany roglster&d
number
05284271
Charlty registered
number
1106768
Ragistered office
14 Gray's Inn Square
London
WC1R 5JP
Chief Ex8cutlve Officer Nicky Young
Deputy Chief Exo¢Utlvo Annette Bennett
Officer
Independent audltors
MHA Maclntyre Hudson
Slalulory Audrtor
6th Flooi
2 London Wall Place
London
EC2Y SAU
Page 1

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS COMMirrEE MEMBERS AND
ADVISERS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2021
Bankers
National Weslminsler Bank PLC
Law Courts, Temple Bar
Southampton Customer Service Centre
BTunswick Gate
23 Brunswick Place
SO15 2AQ
Solicitors
Withers LLP
20 Old Bailèy
London
EC4M 7AN
Investment Managèrs
Inveslec Wealth & Investment Limited
30 Gresham Street
London
EC2V 7QN
Insolvency Practltlonors Griffins LLP
Tavi5tock House South
Tavislock Square
London
WCIH 9LG
Page 2

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA company Ilmrted by guarant••}
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEM8ER 2021
The BBA m$¥ to a major challerwe p08ed by COVID-19 ovar th•1881 ygats. In April 2020. In OTder
to deal with the increAsed need amongst mèmbars of the Bar. some of whom laund themselves
eLYnpletely out of WOTk and Inellglbl• for a¥31siarbCe from the govemmenL th? 88A together Ylth the
four Inns ofcouri launched the COVID-19Appgal. The appeal ralsed up lo the end of 2021 over£1.4m,
Includlng £eOO.000 tlonatsd by the Inn8. The BBA look responsibility for dlstributing the fund$ and
dealing wlth those who applled. Speed was essentl81. Stsrtlng In Mgy 2020. applicants applS•d onllne
for grants. We held weekly cornmlttae m¢sllng$ lo deal ￿th them, in accord8ncg with guidance w¢
dÈveloped. Grants wère made egeh ￿￿ek. Crants were generalWofa Set amount per month and made
for up to 3 months at a Urn?. Many applicants have Tenewed th&lr grnnts ragularly. To the end of 2021
we sUPPOrted 189 indfvidual applicants plus 121 Df th8lr dependents who induded chlldren. We wll
¢x)nllnue to make th¢ support avallabl¢ throughout unfjl the funds are used by abDul thB rnlddle of 2022.
The BBA wr¢uld like to thank the Four Inns. the sgts of chambers which contributed. Bar proleg$lonal
societies. the CSrcults. and individual donors for Ihetr 8UPPOrt ￿thOut whth this level ol ass18tarKe
would nol have been posslbla.
I would like to extend a spedal thank you to thDSO Members Df the Commlttee attended weekty
mèèfjngs to wlew appll¢all(m$ and make sure that all the appllcations wer• $￿ftlY dealt wth.
Durtng Ihe pastya8rwe r•c8fved sllghtyfow&rTèquèsts fora8$19tanc• u￿r￿neCted Eo COV11>19 albeil
th8 number of appllcotlonswas notsubstantialtyoth of Ilne w]th the numbers rec8lvod In p￿Qu9 years.
Wè recèN•d 9 now applkations, a d8c¥ease of S on the previous year and of these we were ab18 to
holp 7. We held thre8 sub40mmlttee meetlngs. As well as these naw (xs88, there were 18 renaW￿l,
four less than last year.
Our In¢om¢ from donatkjns Is generally In 4 mrAlest d8cNne and we are tylng to addres8 th18 Is¥uo.
Admlnlstratwe expendmure Is well controlbd bui conunued tluduglbns In the Investment mark•t
continue to 8ffecl the v8lu8 of our roservo$ and Incomv.
We maintain our 81rict polw of sevjring all loans vtherever POSBible and revlew these annually In cos&
a beneffciary'8 CiTcum&iances have changed. We ore s￿ouS to help 88 manybeneficiaries 8s Possi￿¢,
but our iesourc&s are Ilmrted and where equlty exlsts, we bolleve 8ecurfng our loans 1$ In our
b8nofielari•s' k91 Intor￿ls, u8 the polw a8313ts In ensuring that we have fund$ for beneffciaries In th•
ftrturo.
Non8 of th18 tould be achleved vAthout the cLinllnu8d loy81 and Indlspensable BUPPOrt of many
volunteers: in particular Ihose who serve on our Board And the Clrcuit Representatfves who vi811
opplk8nts and ben¥fidaries who arg unabio to travel to London. AL80 Invaluablo 8r& the SUPPOrt8
who make regulardonafionB orwho undertake VArfous fundraisin9 activibes for us- running marathon8,
p18ying golf and the like- to whom wa af$ eqyany gral¢ful. We have a very small te8m of pahl staff
whos8 friendly and helpful contact cn the phone or through e-mail Is much 8ppreciBted by Ihose who
are touch wlth us and I would like to exprBS5 the thBnk3 Df the Committee to the BBA'S Ch￿f Exepjlive
Nlcky Young, and our deputy Chief Execullvts Annette Bennett, who lo the challenge of the
COVID-19 Appeal and did a huge arnount of work. I would 4150 add my own Ihank8 10 those
on the Committeo who attentJe¢l our Month￿ meetings In addfiiton to the ￿kty COVID mBelings lo
deal with applications unconnected lo COVltk19 which w8 dgalt with from our g8nerBI funds.
The need lo maintain ourdonaled income Is important and one way is to ￿cOurage everyone to indude
U6 Sn thelr Wlll once fomlty neads h8v¢ been Bo¢urod. Your omt wlll mean 8om&one les8 lortunate than
you Can bo asshtod at a lime of need.
T•r•nc• Mow•ch•nson QC
Chaliman
Pag& 3

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA company limited by guarantee)
COMMIThEE MEMBERS, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Committee has pleasure in presenting ils report and accounts for the year ended 31 December
2021. The financial statements have been prepared in accordance with the accounting policies set out
therein and comply with current statutory requirements, the Memorandum and Articles of Association,
and the Statement of Recomrnended Practice Accounting and Reporting by Charilies (SORP 20151.
Constitution
The Barristers. Benevolent Association was founded on 10 January 1873. It is a charitable company
limited by guarantee incorporated in England and Wales on 11th November 2004, number 5284271.
The company gained charitable status on 15 November 2004, registration number 1106768. The
company was established under a Memorandum of Association which established the objects and
powers of the charitable company and is governed under its Articlès of Association. In the event of the
eompany being wound up, Members are required lo contribute an amount not exceeding £1.
Objects
The objécts of the Assoeiation are lo provide financial and other assistance and support to needy and
deserving members of the Bar who are 01 have been in praelice in England and Wales, their spouses
and dependants. Assistance is given without geographical restriction or any need to pay fees.
Policy
To achieve these objectives, the Committee has followed the following policies..
al To encourage members of the Bar and Ihe judiciary to Contribute by way of donations. gift aid., and
bl To create and maintain an adequate capitsl basÈ generating investment income lo augment thè
gifted income ol the Association.
Management
The Charity is governed by a Committee whose Members are the Trustees for Ihe purposes of Charity
law and the Directors for the purpose of cofflpany law. Those who served during the year and up io the
date of this report are set out on page l.
Recruitmont and Appolntment of Management Commltt
All Members ofthe Management Committee give their lime voluntarily and receive no benefits from the
Charity. Traditional business and skills are well represented on the Management Committee. In an effort
lo maintain 8 broad mix of skills, new Committee Members are recTuiled after inforrnal discussions with
the Chairman andlor other officers and they are invited lo visit the offices where they are briefed by the
staff on their work and systems. They are provided with a copy of the Memorandum and Articles of
Association, the rules and current back issues of the Annual Review as well as the Charity Commission
leaflet on Ch8rity responsibili￿'es. During the year they receive full background papers for all potential
and actual beneliciari8s, the monthly 8ecoLJnls and the annual summaTies of loans. The Chief Executive
reports personally to the Members on matters concerning individuals allocated lo them as case
manager and in any other case wheie they have asked to be kept in touch.
Page 4

THE BARRISTERS, BENEVOLENT ASSOCIATION
{A company Ilmited by guarantee)
COMMirrEE MEMBERS, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Trust&e Induction and Training
M05t Trustees are already familiar with the practical work of the Charity being Members of the Bar.
Trustees are invited and encouraged lo attend a serie5 of Board meetings as part of their training to
lamiliarise themselves with the Ch8rity and the context within which il operates. These are jointly led by
the Chair of the Commiltee, Company Secretary, Chief and Deputy Chief Executive of the Charity and
covers..
The obligations of Management Committee Members.
The main documents which set out the operational framework for the Charity including the
Memor8ndum and Articles.
Resourcing and the current financial position as sel out in the latest published accounts.
Any Future plan5 and obl￿tives.
Links to Ihe Charity Commission's website with publications to the Trustees role and
Tesponsibililies.
How our adlvFtles dellvgr publlc bgneflt
The Charity seeks lo reaGh every praGlising Bgriister every year to ensure they are aware of the
potential assistance available and lo seek their financial 5UPPOrt. This is primaTily achieved through
emailing a Gopy of the AnnLJal Review to the Bar Counsel for distribution via email lo all Members of the
Bar and Judiciary. We 81$0 att6nd relevant conferences and seek publicity in professional magazines.
Our website includes information for both donors and potential bÈnèficiaTies and has a downloadable
application form. We also have a small team of volunteer Circuit Represeniatives who are able lo make
visits rf needed.
H&lp is tsilored lo each individual case. Wherever possible we seek to enable the beneficiary lo solve
their problem and continue in or return to a posf(ion where he or she can earn a living bul where this is
impossible. or not to be recommended, we can offer secured OT unsecured loans or make grants.
Sometimes help is needed urgently lo lide people ihrough an emergency, other limes the need 15
longer-lerm. Assistance is given without geographical restriction or any need to pay fees and with due
regaid lo public benefit guidance published by the Charty Commission.
A¢hlev¢m¥nt$ and performanc8
COVID-19
The BBA launched a joinl Appeal together with the Four Inns in April 2020 to support th8 demand for
assistance by Members of the Bar whose pra¢lioes were adversely affected by COVID-19.
During 2021 we have continued lo receive COVID applications for grants from the fund and have
received continued support for the fund from the Four Inns and Donors.
The total of grants made lo applicants in the year ended De¢ember 2021 was £492,681. The total of
donations received during that year was £429,476. There were 24 new beneficiaries during the year.
giving a lolal 01189 beneficiaries and 121 dependents since the start of the appeal. Application5 were
typically renewed every 3 months. anlicipale having funds from the Appeal lo be able lo continue
to offer grants untll the middle of 2022.
With Ihe support of the Four Inns, donors, sets of chambers, professional associations. and circuits we
are confident we can meet the demand to support those needy and deserving Members of the Bar.
Page 5

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA company limited by guaranttrel
COMMIThEE MEMBERS, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
oth8rwork
The BBA general fund costs of £482,391 includes grant giving aclivities of £219,196 and support costs
totalling £263,195 50 regLJlar beneficiaries including dependents were awarded monthly and quarterly
grants lo meet short falls in living, medical and food costs.
In 2021 there were 9 new cases unconnected lo COVID. a decrease of 5 on the previous year. Ofthese
we were able to help 7 financially and 2 were offered advice. 3 sub-committee meetings were held. The
refusals were based On appli¢ation$ which fell outside our immediate remit. Where we decline support
because we consider the application was made too soon, we encourage the applicant lo reapply should
their situation worsen. In addition to the new cases, there were also 16 renewals. 4 less than in 2020
and 23 reports, 2 rnore than in 2020.
The most common rÈ8son for declining financial help at any lime lallhough leaving the door open for
subsequent applicalionsl is possession of adequate personal resources which we considei should be
used first. since one of our criteria for granting assistance is that the applicant should be "needy.. In
very rare cases someone may be considered needy but not'deserving,.
Initi81 enquiries by phone, emai5. letter or personally- are handled immediately and the aim is lo have
our application form completed and processed in lime for the next available Committee meeting,
although this does not rul8 out more immediate help if this is urgently required.
Every case is reviewed annually on the anniversary of ils initial presentation to the Committee and
renewals ofsupport have to be accompanied by another completed 8pplicalion fom. Outstanding loans
are reviewed annually al Ihe beginning of the year.
Secured Loans
A thorough revi&w of 811 ouislanding unsecured loans has btsen ¢arried oul. Where the debt is many
years old and despite attempts to contact the debtor there has been no significant repayment. the debt
h88 been written off in our accounts. This does not mean that attempts to secure repayment have been
abandoned and trvery effort will continue lo be made to recover these debts.
Plan for tho future
The AssoGialion will GontinLJe lo seek out opportunities lo publicise the work of the Charity and lo seek
fin8ncial support from those in a posS1ion lo help.
The Directors will ¢onlinue to monitor response times for receiving and processing applications, the
prompt and accurate payment of all benefits, and the proper acknowledgement of contributions.
Financial review
The Associxtion made a deficit for the year of £306,048 f2020- surplus of £552,470J before net gains
on revaluation of the investments of £814,634.
Total incoming resources decreased from £1,843,440 in 202D lo £669,024 in 2021.
Total resources expended decreased from £1,290,970 in 2020 lo £975,072 in 2021.
As al the year ended 31 December 2021, the Association had unrestrieled reserves of £13,426,452
{2020- £12,917,866).
Page 6

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA company limited by guarantee)
COMMIThEE MEMBERS, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Investment Powers, Policy and Performance
The Members of the Committee have, as Trustees, the stalulory general power of investment conferred
by the Trustee Act 2000, which permits them lo make any kind of investment which they could make if
they were absolutely enlilled lo the Association's assets. In exercise of their powers under the Act, the
Members of the Committee have delegated their asset management functions to the Association's
investment managers Inveslec Wealth & Investment based on 4n agreement for discretionary porttolio
management. The instruclion to the investment managers is that they seek a balanced return from
income and from capital growth of thè portfolio, with no more than a moderate level of risk. The
investment strategy is reviewed during the year with the investment managers.
The value of the investments as al 31st December 2021 was £8.787.936 (2020 £8,006,913). The
portfolio received an inflow of £200,fJOO during the year and so the nel increase in the value of the
portfolio was £781,023 (2020- £755. 719).
2021 was ultimately a year of continued recovery in global stock rnarkèls, although progress was not
linear as vananls of COVID-19 c8used social restrictions to be re-lmposed in several countries.
Company earnings were very strong due to weak comparatives in 2020 and, whilst mkjch oflhe recovery
had already been anticipated, companies. results tended still to surprise on the upside. Recovering
consumer demand met COVID ravaged supply chain issues however and therefore headline inflation
Igures have begun to rise signrficantly and are likely lo be meaningfully above central banks, t8rgÈts
over the next couple of years. The US equity market was again the best-performing region. rising by
30% in sterling, and the UK and European markets also performed slrongly, rising by 18Yo and 17%
respectively in Ste￿Ing. Gains were most evident in economically sensitive areas Df the market which
had been the most downtrodden in 2020. In this environment the portfolio generated an above-average
overall return of +11.3%. This was slightly behind Ihe composrte benchmark reluin of +13.OOh due lo
our focus on high quality growth companies, which performed well. bul did not rebound as much as the
broader market given that they had not been as negatively impacted in the first place. The Trustees
agree that the current diversified stratègy rèmains a suitable one for the BBA to achieve ils long tèm
objectives.
The benchmark is comprised of the following indices.. 32QA FTSE All Share (UK equities). 350A FTSE
World ex-UK (overseas equities), 20Vo FTA GovernmentAII Stocks Ibondsl, 30/0 IPD Monthly Ipropertyl,
50/0 Bank of England Base Rate +20/0 {allemalive asselsl, 5% Bank of England Base Rale-0.5Q/o Icashl.
Grant Making Policy
The Association invites applications for assistance from needy and deserving Members of the Bar who
are or have been in practice in England or Wales, thèir husbands or wives, widows or widowers,
children, and dependanls. AssislanGe may be provided to beneficiaries by way of grant or loan. or a
combination of the two.
Before any grant or loan 15 considered by the Committee. applicants are required lo complete a detailéd
form setting out their individual circumstances. Where possible, the Association will a￿ayS seek to
facilitate the return lo work of the praolilioners who have been in substantial full-time practlEe prior lo
the events occasioning their application.
Page 7

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA company15mlt•d by guarnntfrel
COMmI￿E£ MEMBERS, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Reservgs Pollcy
The assets ol the A550cialion a￿ app1￿&ble for its purposes al the discretion of the Committee wrthc•L
any distinction bèlween capital and income. Tho Association has total funds of £13.426,452 (2020 -
£12,917,866) of which £3,802,935 12020 - £4,299,853J is compristrd In dasignated fund5, £217,498
(2020- £226.298) as tsngible fixed assets and £8.787.936 (2020- £8,006,913J is hèld in investments
lo continue to generate income for the Associali)n, leaving £618,083 {2020- £384.802) ol general free
reserves. Whilst under Charity Commission guidance the Charity's investments repre5enlfree reserves,
the Cornmittee considers that these are held lo geneTate lunds to support ils beneficiaries in the future.
Consistent wrth ts policy to create and maintain an adequate capital base, the Committee intends 10
maintain the current level of total reserves limit al £7,500,000 atthough currently al the year-end there
are reserves of £8,787,936 tg allow for the current uncertainties within the market Ihat could be
impactèd by an increase in demand from beneficiaries.
Rlsk Management
The Members of thè Committèe arè satisfied that the major and operational risks thè BBA face8
have been idenlrfied and confirm that systems have been established to enable regular reports to
produced $0 that the necessary steps ean be taken to lessen the risks.
Approved by order of the Members ofthe Board ol Committee Members and signed C•n their behalf by..
Terence Mowschonson QC
Chairman
Page 8

THE BARRISTERS. BENEVOLENT ASSOCIATION
(A Company Limlt¢d by Guarantee)
STATEMENT OF COMMITTEE MEMBERS. RESPONSIBIUTIES
FOR THE YEAR ENDED 31 DECEMBER 2021
The Commlttga MembeTS (who are 8180 the Directors of thè Ch8rity for the purposes of company lawl are
responsible lor preparing the Committee Member8, Report and the financial sletgments in accordance with
8ppli¢8ble law and Unf(ed Kingdom Accounb'ng Standards (United Kingdom Generally Accepted Accounting
Practice).
Company18w ￿QuIreS th8 Committoe Members lo prepare financial 5talemenls for each financial year. Under
company law. the Committee Members must not approve the fln8nclal statements unless they are satisfied thai
Ihey gwe a true and fair view of the stale of affairs of the Charity and of ils incoming re3Durce8 and application of
fesour¢e5, induding its income 8nd expendf(ure, for that perioJ. In preparing Ihe8e finanrAd Blalemonts, the
Committee Members 8r8 requI￿d to..
sdect suitablè accounlino policies 8nd then 8ppty them consislenlty..
observe the Meth￿1$ and principle8 of the Charities SORP IFRS 102).,
m8ke judgements and accounting eslimgtes that are reasonable and prud¢nt',
stsle whÈther applicable UK Aceountlng Standards IFRS 1021 have been folk)wed, 8ubiect lo any m8ieri81
departure6 dlsclosed 8nd e¥p18ined in the finan￿81 slatemenl5'.
prepare the financl81 statements on the going concem b85is unless it is Inapprc*)rialè to presume that Ihe
Charlty will continue in bu8ine66.
The Commltteo Mèmbers are respansible for keeping adequate accounting records that are $fftlenl to $hLv4¥
and explain the Charity's Iransath"on8 and dis¢losa wtih reasonable accuracy at any time the financial position of
the Charity and enablo them to onsure that the finanBkg1 statements Comply w(th the Companies Act 20C6. Thoy
are akn responsible for safeguarding the a$$ets of the Charity and hence for taking rgastsnable Bteps for Ihe
preVent￿n and delectlon of fraud and other IrreguLqritiBs.
In so far 8$ Ihe Commlttee Mernbe￿ gre aware..
there is no falgvgnl audit infornwtion of which the Charity'8 auditor 18 unaware.. and
the Commltteè Members have taken 911 steps that they ought to have taken lo make Ihomsalves awgr• of
any relevant audit infomi81ion and ti establish that the audrtOT i5 aware of that infom)atlorn,
Approved by ￿der oftho MembBrs ofthe Committee Board an¢J signed on *ts behalf by..
Terence Mow8chen8on QC
Chairman
Dale=
13K ￿￿Ly lo LL
Page g

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmlted by Guarant901
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE BARRISTERS, BENEVOLENT
ASSOCIATION
Opinion
We have audited the financial statements of The Barrisleis. Benevolent Association Ilhe 'ChariVI for the year
ended 31 December 2021 which comprise the Statement of Financial Aotivilies, the Balance Sheet, the
Slalement of Cash Flows and the related notes, including a summary of signrficant 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, Iuniled K1ngdom Generally Accepted Accountsng PraGlicel.
In our opinion the financial slalements..
give a true and fair view of (he stale of the Charity's affairs as al 31 December 2021 and of its incoming
resources 8nd application of resources, including its income and expenditure for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Ba$ls lor opinion
We conducted our audit in accordance wlth Intemational Standards on Audlling IUKI IISAS IUKII and applieable
law. Our responsibilities under those slandaTds are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordancè
with the ethical requirements that are relevant to our audit ol the financial statements in the United Kingdom,
including Ihe Financial Reporting Council's Ethical Stsndard, and we have fLJllilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate lo provide a basis for our opinion.
Con¢luslons relating to going concern
In auditing the financial statements, we have concluded that the Committee Members, us& of thè going ¢onc8m
basis of accounts'ng in the preparation of the financial slalemenls is appropriate.
Based on the Work we have perfomied, we have not Identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubl on the ¢harilable companls ability to
continue as a going conc6rn for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Commillèe Members with respect to going concern are
described in the relevant seclions of this Teport.
Page 10

THE BARRISTERS. BENP4OLENT ASSOCIATION
IA Company Llmlted by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE BARRISTERS, BENEVOLENT
ASSOCIATION (CONTINUED}
Other Information
The other information comprises the information included in the Committee Members, Report other than the
rinancial slalewenls and our Auditors, Report thereon. The Commfftee Members are responsible for the othèr
information contained within the Committee Members, Report. Our opinion on the financial statements does not
cover the other information and, except to the extent otherwise expli¢iUy stated in our report, we do not express
any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and. in doing so,
consider whether Ihe olher infomation is materially inconsislenl with the financial slalemenls or our knowledge
obtained in thè course of the aLJdit, or othenNise appears to be materially misslaled. 11 we idenlrfy such material
inconsistencies or apparent material misstatements, we are required to determine whether this 9ives rise to 8
material misslalemenl in the fin8ncial ststements themselves. If, based on the work we have performed. we
conclude that there is a material misslatemenl of this other information, we are required lo report that fact.
We have nothing lo report in this regard.
Opinion on other matter5 pres¢rib¢d by the Companl8s Act 2006
In our opinion. based on the work undertaken in Ihe course of the audit..
the infonnalion given in the Committee Members, Report foi the financial yeaT for which the financial
statements are prepared is ¢onsistenl with the financial statements.
the Committee Me￿be[S, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are requir•d to roport by exception
In the light of our knowledg& and understanding of the charitable company and its environment obtained in the
course of the audit, we have not idenlified malerial misstatements in the Committee Members, Report.
We have nothing to report in re$pe¢l of the folloTMng matters in relation to whi¢h Companies Act 2006 requires
us to report to you if, In our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns,. or
certain disclosures of Committee Members. remuneration specified by law are not made- or
we have not received all the information and explanations we require for our audit., or
the Committee Members were not entitled lo prepare the financial statements in accordan¢e wth the
small companies regime and lake advantage of the small companies, exemptions in preparing the
Committee Members. Report and from the requirement lo prepare a Strategic Report.
Responsibiliti•s of Committeo Members
As explained more fully in the Sialement of Committee Members. Responsibilities, the Committee Members
(who are also the Directors of the charitabl¢ Gompany for the purposes of wmpany lawl are responsible for Ihe
preparation of the financial slalernents and for being satisfied that they givè a true and fair view, and for such
internal control as the Committee Members determine is neGessary lo enable the preparation of financial
slalemenls ihal are free from material misslalemenl, whether due lo fraud or error.
Page11

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BARRISTERS. BENEVOLENT
ASSOCIATION {CONTINUED}
In preparing the finanGial slalemenls. the Committee Members are iesponsible for assessing the charitable
company's ability to wnlinue as a going concern, disclosing, as applicable, matters related lo going concem and
using the going concern basis of accounting unless the Committee Members either intend to liquidate the
charitable company or lo cease operations, or have no realistic alternative bul lo do so.
Audltors. responslbllltlas for the audil of tho financlal $tat8mants
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstalemenl, whether duè lo fraud or error, and lo issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in
cordance with ISAS IUKI will alway5 detect a material misstalemenl when it exists. Misslalements can arise
frorn fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these fingn¢ial slalements.
Irregularities, including fraud, are instances of non-compliance Mth laws and regulations. We design procedures
in line with our responsibilities, outlined above, to delect material misstatements in respect of irregularities.
including fraud. The extent lo which our procedures are capable of delecling irregularities, including fraud is
detailed below..
Identify and assess the risks of material misslalement of the financi81 statements, whelher due lo fraud or
error, design and perfom audit procedures responsive io those risks, and obtain audit evidence that is
sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling a material
misstatement resulting from fraud is higher than for one resulting frorn error. as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant lo the audit in order lo design audit pro¢edure5 that are
appropriate in the circumstsnces, bul not for the purposè of expressing an opinion on the effectiveness of
the Charity's inlemal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by the Committee MembeTS.
Conclude on the appropriateness of the Committee Members use of the going conGern basis of accounting
and, based on the audit emdence obtained, whether a maleTial uncertainty exists related to events or
conditions that may cast signrficanl doubt on the Charity's abillty lo continue as 8 going concem. If we
conclude that a matevial uncertainty exists, we are required lo draw attention in our auditor's report lo the
related disc105ures in the financial ststements or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to th8 dale of our auditor's report. However,
future events or wndilions may cause the Charity lo cease to continue as a going concern.
Evaluate the ovèrall présèntation, slruclurè and contènt of the financial statements. in¢luding the
disclosuTes. and whether the financial slalemenls represent the underlying transactions and events in
mannèr that a¢hieves fair presentslion lie. gives a tru8 and fair view).
Because of the inherent limitations of an audit, there is a risk that we will not detect all itregularilies, including
those leading to a material misstatement in the financial statements or non-compliance with regulalion. This risk
in¢reases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial slalemenls. as we wll be less likely lo become aware of instances of non-complian￿.
The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misTepTesenlalion.
Page 12

THE 8ARRISTERS' BENEVOLENT ASSOCIATION
IA Company Llmlted by Guarante•l
INDEPENDENT AUDrroRS' REPORT TOTHE MEMBERS OF THE BARRISTERS. BENEVOLENT
ASSOCIATION ICONTINUEDI
A further description of our responsibilities for the audit of the financial slalemenls is located on the Financial
Reporting Council's website al". www.frc.or
.uklauditorsres
onsibilities. This des¢riplion forms part of our
Auditors, Report.
Uso of our report
This report is made solely lo the Charity's Members, as a body, in a￿OrdanCe wth Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might stale to the Charivs Members
those matters we are required to slate lo them in an Auditors. Report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility lo anyone other than the Charity and its
Members. as a body. for OLJr audit work, for this report, or for the opinions we have formed.
Sudhir Singh FCA (Senlor Statutory Audltorl
for and on behalf of
MHA Maclntyre Hudson
Slalulory Auditor
London, United Kingdom
Dale.. 23 September 2022
Page 13

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limited by Guaranto9)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2021
Unrestricted
funds
2021
Total
funds
2021
Total
funds
2020
Notg
Income from:
Donation5 and leg8ci&s
Investment income
463,418
197,691
7,915
463,418
197,691
7.915
1.546.437
290,367
6,636
Other income
Total Income
669,024
669.024
1.843,440
Expenditure on:
Investment management costs
ChaTilable activities
40.131
934.941
40,131
934,941
36.821
1.254,149
Total expenditure
975.072
975.072
1,290,970
Nat laxpènditurell incom8 before not galns on
Invostments
Net gains on investments
1306.0481
814,634
(306.0481
814.634
552,470
275,014
12
Ngt movement in funds
508,586
508.586
827,484
Reconciliation of funds..
Total funds brought forward
Net movement in funds
12,917,866
508,586
12,917,866
S08.586
12.090.382
827.484
Total funds carrlad forward
13,426,452
13.426.452
12.917.866
The Slalemenl of Financial Activities includes all gains and losses recognised in the year.
In the previoijs year all income and expenditure was allocated to I from unrestricted funds.
All income and expenditure derive from ¢onlinuing activities.
The notes on pages 17 10 36 form part of these financial slalements.
Page 14

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company Lirnlted by Guaranteel
REGISTERED NUMBER: 05284271
BALANCE SHEET
AS AT31 DECEMBER2021
2021
2021
2020
2020
Note
Flxed asset5
Tangible assets
Investments
11
12
217.498
,787.936
226,298
8.006,913
9.005N34
B,233.211
Current assets
PTcgr8mmo related investments-
Conces5ionary loans
OebtorB'. Arnounts falling due wlihln one year
CaBh at bank and in hand
13
14
18
3.640,473
66,283
734.086
3,854,095
132,210
716.645
4,440,842
4.702.950
Creditors.. Amounts falling due wthin one
year
15
{19,824)
(18.2951
Not current assets
4,421,018
4.684.655
Total net a3￿t*
13h26.452
12,917.866
Charlty funds
un￿Stn.¢ted funds
16
13A26,452
12,917,866
Total funds
13,426.452
12,917,866
The Committee Members acknowledge their responsibilities for coMpl￿n9 with ihe r8quirernents of Ihe
Companies Act 2006 w(th respect lo accounting r￿ordS and preparation of financial Statements.
Th& financial statements hove been prepared in 9ccord8nce w￿h the provisions applicable to entkies subject lo
the Small cornp8ni08 regime.
Th? finan¢ial statements were aPPToved and authorised for issue by the Committee Members and signed on
their behalf by".
Toronce Mowschonson QC
Chgirnian
Date".
The notes on pages 17 to 36 fomi part of Ihgse financial slatemenls.
Page15

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company Limlted by Guarantgal
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2021
2021
2020
Note
Cash flows from operatlng actlvities
Net cash used in operating activities
17
(213,8611
323,098
Cash flows from Investlng actlvities
Income from investments
197.691
290.367
1,174.707
2,147,331
11,141,096) 12,628.0361
Proceeds from sale of investments
Purchase of investments
12
12
Not cash provldèd byllusèd In) Investlng a¢tlvltl•s
231,302
1190.3381
Change In cash and cash equivalent5 in the year
Cash and ¢ash equivalents at the beginning of the year
17,441
132,760
716.645
583,885
Cash and cash equivalents at the end of the year
18
734,086
716,645
The notes on pages 17 to 36 fomi part of Ihese financial statements.
Page 16

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
General Informallon
The Chaiity is a company limited by gLJaranlee and is registered with the Charity Commission (Charity
Registered Number 11067681 and Registrar of Companies (Company Registration Number 052842711.
The Members of the company are the Commitlee Members narned on page 1. In the event of the Charity
being wound up, the liability in respect of the guarantee is limiled lo £1 per Member of the Charity.
The address of the Tegislered office is given in the Charity infomi8tion on page 1 of these financial
slalements. The nature of the Charity's operations and PTin¢ipal activities are listed in the Committee
Members, Report.
Accountlng pollclgs
2.1 Basis of praparatlon of financial statements
The finanGial statements have been prepared in accordance with the Charities SORP IFRS 1021
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 IFRS 1021, the Financial Reporting Standard applicable in the UK and
Republic of Irèland IFRS 1021 and the Companies Act 2006.
The 8arrS$leTS' Bènevolent Association meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are ini118lly recognised at historical cost or transaction value unless otherwise
slated in the relevant a¢Gounling policy.
The financial statements are presèntèd in sleding which is the functsonal currency of the Charity and
rounded lo the nearest pound.
2.2 Going concarn
The Committee Members have assessed the use of going concern and have considered p055ible
events or eondilions that might cast significant doubt on the ability of the Charity lo continue as a
going concern including the impact of COVID-19. The Committee Members have made this
assessment for a peritsd of at le8St one year from the dale of the approval of these Financial
Statements. The Committee Members have concluded that there is a more than adequate resources
lo continue in Dperational existence foi the foreseeable future and has no imrnediale concerns and
expects the charity to therefore lo continue lo adopt the going concern basis in prèparing ils financial
statement.
P8ge 17

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting poll¢la$ {contlnuedl
2.3 Incom
All income is recognised once the Charity has ÈnliUÈmènt lo the income, il is probable that the
income will be received and the amount of income receivable be measured reliably.
The recognition of income from legacies is dependent on establishing entitlemènt. thè probability of
receipt and the ability lo estimate with sufficient accuracy the amount receivable. Evidence of
entillemenl to a legacy exists when the Charity has sufficient evidence that a gift has been left lo
them Ilhrough knowledge of the exislÈnee tsf a valid wll and the death of the benefaclorl and the
executor is satisfied that the property in question will not be requiTed lo satisfy claims in the estate.
Receipt of a legacy musl be recognised when Il Is probable that il will be received and the fair value
of the amount Teceivable, which will generally be the expected cash amount lo be distributed to the
Charity, can be reliably measured.
Grants are included in the Stalemenl of Financial Activities on a receivable basis. The balance of
income received for specific purposes bul not expended during the period is shown in Ihe relevant
funds Dn the Balance Sheet. WheTe income is received in advance of entitiemenl of receipt, fits
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
For donations lo be recognised the Charity will have been notified of the amounts and the setuemenl
dale in writing. If there Ère condilions attached lo the donation and this requires a level of
pÈrformanee bèfore entitlement can be obtained then income is deferred until those condititsns are
fully mel or the fulfillment of those conditions is within the control of the Charity and it is probable that
they will be fulfilled.
On receipt. donated professional services and facilities are recognised on the basis of the value of
the gift to the Charity which 15 the amount it would have been willing lo pay lo obtain services or
facilities of equivalent economic benefit on thè open market. a ¢otresponding amount is then
recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Income tax recovèrable in relation lo investment income is recognised at the time the inveslmènl
income is receivable.
Other income is recognised in the peTiod in which il is receivable and to the extent the goods have
been provided or on completion of the service.
Page 18

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limlt8d by Guarantoel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accountlng pollclos Icontlnugdl
2.4 Exponditurè
l expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related lo that category. Expenditure Is recognised once there is a legal or
nslruGlive obligation to transfer economic benefit lo a third paty. il is probable that a Iransler of
economic benefits will be required in settlement and the amount of the obligation can be rneasured
reliably. Expenditure is classified by activity. The costs of each activity are made up of th8 total of
direct costs and shared costs, including support CO515 involved in undertaking each activity. Direct
costs attributable to a single activity are allocated directly lo that activity. Shared costs which
contribute to more than one activity and support costs which are not attributsble to a single activity
are apportioned bel￿een those activities on a basis con515tent with the use of resources. Central staff
costs are allocated on the basis of lime spent. and deprecbalion charges allocated on the portion of
the assèt's use.
ExpendilLJre on raising funds includes all expendibjre incurred by the Charity lo raise funds for Its
char1table purposes and includes costs of all fundraising activities events and non-charitable trading.
Expendituré on charitable aotivities is incurred on directly undertaking the 8Ctivities which further the
ChaTiWs objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in Ihose cases wheTe thé offer
is conditional, such grants being recognised as expenditure when the condits.ons attaching are
fu￿illed. Grants offered subject to eondrtions which have not been met at thè year Ènd arè noted as a
commitment, bul not accrued as expenditure.
All expenditure is inclusive of irrÈcovÈr8ble VAT.
2.5 Forelgn currencies
Foreign cuffency transactions are initially recognised by applwng lo the foreign currency amount the
spot exchange rate be￿een the functional currency and the foreign currency at the Balance Sheet
dale of thè Iransactson.
hAonetary assets and Iiabililies denominated in foreign currencies are translated into sterling al rates
of exchange ruling al the Balance Sheèt dale.
ExGhange gains and losses are recognised in the Slalement of Flnancial Activities.
2.6 Taxation
The Charity is consbdered lo pass the lesls set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes.
A¢¢ordingly, the Charity is potentially exempl from laxalion in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are
applied exclusively lo charitable purposes.
Page 19

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company Llmlted by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting policios Icontlnuodl
2.7 Tangible fixod assats and dopraciatlon
Tangible fixed assets costing £500 or more are capilalised and recognised when future economic
benefits are probable and the cost or value of the asset can bè measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition. under the Cost model, tangible
fixed assets 8re measured at cost less accumulated depreciation and any accumulated imp3irment
losses. All costs incurred to bring a iangible fixed asset into ils inlended wotking condition should be
included in the rlleasuremenl of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less Iheir residual value
over their estimated useful lives, using the slraight-line method.
Depreciatson is provided on the following bases..
Leasehold property
Fixtures and fittings
Computer equipment
2% straight line on cost of building
15°h straight line
20°/o straight line
2.8 Investments
Fixed asset investments are a lom) of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value using the closing qLJOted market price. All
gains and losses are taken lo the Statement of Financial Activities as they 8rise.
The Statemènt of Finaneial Activities includes the net gains and losses arising on revaluations and
disposals throughout the year. As investments are revalued to fair value continually, no realised gains
or losses arise.
The fair value of listed investments is determin￿ by reference to the quoted price for identical assets
in an active rnarkel al the Balance Sheet dale.
Soci81 investments include programme related investments which are those held to further our
charitable PLJrposes. Programme related investments include concessionary loans to third parties.
2.9 Concessionary loans
Concessionary loans include those receivable lo third parties which are interest free c*r below market
inteiesl rates and are made to advance charitable purposes. Where the loan is repayable on demand
within one year, the loan is measured al cost, less impairment. Where the loan is repayable more
than one year. the loan is initially measured al fair value and subseqijenlly measured al amortised
cost using the effective interest rale method, less impairment.
2.10 Debtors
Tradè and other debtors are recognised al the settlement arnount after any Ir8dè discount offered.
PrepayTnents are valued al the amount prepaid net of any trade diswunts due.
Page 20

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limitod by Guarant80}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accountlng pollclos {¢ontlnuedl
2,11 Liabilities and proYi5ion5
Liabilrties are recognised when there is an obligation at the Balance Sheet date as a result of a past
event. il is probable that a transfer of economic benefit will be required in settlernenl, and the amounl
of the settlement can be eslimaled reliably.
Liabilities are recognise¢J al the amount that the Charity anlicipales il will pay to settlè the dÈbl or Ihe
amount il has received as advanced payments for the goods or services il must provide.
Provisions are measured al the besl estimate of the amounts required lo settle the obligation. Where
the effect of the time value of money is material, the prowsion is based on the present value of those
amounts. discounted al the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.12 Flnan¢lal Instruments
The Charity doe¥ not havè a malerfal holding in complex financial instruments. The Charity only
holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as
follows-.
DebloTS- trade and otheT debtors (including accrued incomel are basic financial instruments and are
debt Instruments measured at amortised cost as detsiled in Note 14. Prepaymenis are not financial
instruments.
Cash al bank- is classified as a basic financial instrument antl is measured at face value.
trade creditors, accruals and other creditors will be classrfied as financial instruments,
and are measured at amortised cost as detailed in Note 1 S. Taxation and social security are not
included in the financial instruments disclosure. Deferred income is not deemed to be a financial
liability. as in the cash seitlement has already taken place and there is simply an obligation lo deliver
charitsble servi¢es rather than ¢ash or 8nother financial inslrumenl.
2.13 Operating leases
Rentals paid under operating leases are char9ed to the Slalement of Finanaal Activities on a straight
line basis over the lease term.
2.14 Pènslons
The Charity is committed lo providing pensions lo former members of staff al an agreed rale on
retirement of the employee. The cost of providing these pensions is included in the Slalemenl of
Financial Activities as it Is incurred.
Page 21

THE BARR15TERS' BENEVOLENT ASSOCIATION
{A Company Limitod by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Accounting poll¢19s {¢ontlnuedl
2.15 Fund accountlng
General funds are unrestricted funds which are available for use al the discretion of the Committee
Members in furtherance of the general objecb'ves of the Charity and which have not been designated
for other purposes.
Designated funds cornprise unrestricted funds that have been sel aside by the Committee Members
for particular purposes. The aim and use of each designated fund is Sel out in the notes lo the
financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2.16 Judgamants and kèy sour¢e$ of estlmatlon un¢•rtalnty
The following judgements lapart from those involving eslimalesl have been made in the process of
applying the above accounting policies that have had the most significant effect on amounts
reGognis¢d in the financial slalements..
Basis of valuation of financial instruments
Allocation of support costs
The useful economic lrfe of tangible fixed assets and the depreciation rates applied
Impairment of programme related investments I Con￿SSiOnary loans.
Page 22

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
In¢ome from donations and 18ga¢los
Unrestricted
funds
2021
Total
funds
2021
Donations - general
Legacies
Donations received from specific in5tilulions
229.476
10,000
223,942
229,476
10,000
223,942
Total 2021
463,418
463,418
An analysis of donations received from specific institutions is shown in Note 4.
Unrestrictèd
funds
2020
Total
funds
2020
Donations general
Donations received from specific inslilulions
640,149
906,288
640,149
906,288
Total 2020
1,546,437
1,546,437
P8ge 23

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company Llmited by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Donations received from speciflc instltution5
2021
2020
Honourable Society of Inner Temple Icovid Appeal £50.000}
Honourable Society of Middle Temple Icovid Appeal £50,000)
Honourable Society of Lincoln's Inn (Covid Appeal £50,000)
Honourable Society of Gray's Inn (Covid Appeal £50,000)
Western Circuit Lodge (Covid Appeal)
One Crown Office Row
Solev Co Ltd (Covid Appeal)
Landmark Chambers
WilberfOr￿ Chambe
Quadrant Chambers
Matrix Chambers
Falcon Chambers
Essex Court Chambers (Covid Appeal)
Cloth Fair Chambers (Covid Appeal)
Old Square Chambers (Covid Appeal)
Bar Golf Society
5RB (Covid Appeal)
1GC Management Limited
3VB Services Limited
Chancery Bar Associalion Icovid Appeal)
Midland Chaneery Bar Association Icovid Appeal)
Commerical Bar Association Icovid Appeal)
Personal Injuries Bar Association Icoyid Appeal)
Queens Council Appoinlrnenls (Covid Appeall
The Yves Guihannec Foundation (Covid App8all
Bar Mutual Fund (Covid Appeal)
Bar Mulual Fund
Payp41 Giving Fund
The Band Tiusl
G and K 8oyes Charitable Trust (Covid Appeall
Alastair and Rachel Norris Charitable Trust
60,000
45,000
57,000
50.392
110,000
120.250
132.000
120.000
750
250
250
5,000
1,000
250
250
250
500
250
250
3.000
20,000
5,000
10.000
965
500
250
16
30.000
2,000
30,000
6,500
100,OQIO
10,000
100,000
2SO
104
272
2,000
100,000
2,000
1,250
1.500
981
Agencia Consulting Ltd
Grals Inn Benchers Ladies Association
223.942
906,288
Page 24

THE BARRISTERS. BENEVOLENT ASSOCIATION
{A Company Llmited by Guarantae)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Income from Investments
Unr*stri¢ted
funds
2021
Total
funds
2021
Dividends and interest on investments
166,821
30,822
48
166,821
30,822
Interest on loans
Bank interest receivable
Total 2021
197,691
197.691
Unrestricted
funds
2020
Total
funds
2020
Dividends and interest on investments
169,049
120.798
520
169,049
120.798
520
Interest on loans
Bank interest receivable
Total 2020
290,367
290,367
Other income
Unrestricted
fund5
2021
Total
funds
2021
Rental income
7,915
7,915
Unrestricted
funds
2020
Total
funds
2020
Rental income
6,636
6,636
Page 25

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmitgd by Guarantoel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Analysis of expenditure on charitable activitie5
Activities
undgrtak&n
dlrectly
2021
Grant
fundlng of
a¢tlvities
2021
Support
costs
2021
Total
funds
2021
Grant giving
1,900
669,846
263,195
934,941
Activities
undertaken
direcuy
2020
Grant
funding ol
activities
2020
Support
costs
2020
Total
funds
2020
Grant giving
5.100
996,545
252,504
1,254,149
In both the current and previous year. all grant funding of activities were to individuals.
Gmnts were made to 50 individual beneficiaries, often in respect of living costs such as food. mecsical,
rènt and council tsx. Grants varied in length between the short and long tèrm and were often distributed
monthly or qLJarterly.
Page 26

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limitgd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Analysls of expendlture on charltable actlvltles lcontlnugdl
Analysis of support costs
Total
funds
2021
Total
funds
2020
Staff costs
Depreciation
Rent and rates
112,467
8,800
34,102
5,280
2,003
2,632
6.390
22.276
1.241
112,967
8,800
40,674
6,104
2,006
2,927
5,890
23,115
1,375
4.400
1,200
728
Office cleaning, electricity, insurance, maintenance and water
Printing, postage. stationery and appeals
Telephone
Advertising
Computer consultants
Bank charges
Consultancy costs
Subscriptions
Sundry expenses
Concessionary loans impeimitrnl
Governance Costs
1,786
673
37,B07
27,738
42,318
263,195
252,504
Govarnance costs
2021
2020
Legal and professional fees
Audilorfs remuneration Audit of the financial stalemenls
Audilorfs remuneration - Other serviGe5
Auditorfs remuneration - Under accrual of prlor year fees
16,052
8,200
2,225
1.261
30.078
7,600
4,640
27,738
42.318
Page 27

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmlted by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
staff costs
2021
2020
Wages and salaries
Social security costs
Pension costs
81,445
5.707
2S,315
81,856
5,799
25,312
112,467
112.967
The average number of persons employed by the Charity during the year was as follows..
2021
No.
2020
No.
Administration
No employee received remuneration amounting to more than £60,000 in either year.
10. Commlttee Members. remuneratlon and gxponses
During the year, no Committee Members, who are considered to be Ihe Key Management Personnel of
the Charity, received any remuneration or othèr benefts12020- £NILI-
During the year ended 31 December 2D21, no Committee Member expenses havè been incurred12020 -
£NILI.
Page 28

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmited by GuaTantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
11. Tangibl8 fixod assèts
Flxtures and
fittlngs
Computer
equiprnent
Properties
Total
Cost or valuatlon
Al 1 January 2021
304.950
33.838
13.505
352.293
At 31 December 2D21
304.950
33,838
13,505
352.293
Depreciation
At 1 January 2021
Charge for the year
88.289
6,099
33,838
3.868
2.701
125,995
B,800
Al 31 December 2021
94,388
33,838
6.569
134,795
Net book value
At 31 December 2021
210.$62
6,936
217.498
At 31 December 2020
216,e61
9,637
226,298
All fixed assets are held for use by the Chartty.
The Association has an interest in tsvo properties lone freehold and one leasehold flatl where ownership
has been transferred to the Association by beneficiaries of the Charity.
Page 29

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
12.
Fixed as$ot Investment$
Listed
Investmgnts
Valuatlon
At 1 January 2021
Additions at cost
8,006.913
1,141,096
11.174,7071
814,634
Disposals at carrying value
Revaluations
At 31 December 2021
8,787,936
13.
Programme related investments - Concessionary loans
2021
2020
Loans to beneficiaries
3.640.473
3,854.095
2021
2020
Loans at 1 January
Loans granted in the year
Loans repaid in the year
Loan impairment charges
3.854,095
60,294
1236.1091
137,8071
3,913,589
132,673
1192,167)
Loans at 31 December
3,640,473
3,854,095
The above balances include an element of loans rep8yable in more than one year, this is agreed on an
annual basis and is therefore not quantifiable al this lime.
Where possible, loans ale secured on the beneficiarls property. Interest is Gharged on secured loans al
a rale of 1VD plus base rate. No interest is charged on unsecured loans.
Page 30

THE BARRISTERS, BENEVOLENT ASSOCIATION
IA Company Limitgd by Guaranteg)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2021
14.
Debtors
2021
2020
Due wlthln one year
Other debtors
1.688
24,752
39,843
3,588
74,804
53.818
Prepayments and acciued income
Dividends and interest receivable
66,283
132,210
15.
Crgditors.. Amounts falllng due wlthin one year
2021
2020
Trade creditors
Other creditors
2.934
6.465
10,425
733
708
Accruals
16.854
19,824
18,295
P8ge 31

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Limitad by Guarant901
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
16. Statement of funds
Statement of funds - current year
Balance at
31
Galnsl Decèmber
(Losses}
2021
Balance at I
January
2021
Transfers
Inlout
Income Expenditure
De$ignaled
funds
Funds
designated for
loans
3.854.095
445.758
{213.622}
50.000
3.640,473
162,462
COVID fund
159.385
1492.6811
4.299.853
159.385
1492.6811 1163,6221
3,802,935
General funds
General funds
8,618,013
509,639
1482,3911
163,622
814,634
9,623.517
Total
Unrestrietèd
tunds
12,917,866
669,024
1975,0721
814,634 13.426,452
General funds are fund5 whlch can be used in ac¢ordan¢e with the ¢harilable objects al the discretion of
the Committee Boaid.
Designated funds are sel aside by the Committee Members out of the unrestricled general funds for
specific future purposes.
The fund design8led for con¢essionary loans was sel up to recognise the fund5 committed lo loans to
beneficiaries.
The Iransfer between the funds represents the net movement during the year be￿een loans granted in
the year less amounts repaid and impaired during the year on the loans to beneficiaries.
The COVID fund relates to funds sel aside by the Committee Members in connection with appeals made
for mernbers of the Bar and Iheii dependants who have contracted the coronavirus and are unable lo
support themselves and IheiT families as well as those members, partioulaTly but not exclusively. who do
publicly funded work, who find themselves in drfficully.
Pag& 32

THE BARRISTERS. BENEVOLENT ASSOCIATION
{A Company Limlted by Guaranteg)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
16. Statement of funds (continued}
Statement of funds - prior year
Balance at
31
December
2020
B818nee 8t
1 January
2020
Transfers
inlout
Gainsl
(Losses)
Income
Expenditure
Deslgnat¥d
funds
Funds
designated for
loans
3.913.589
159.4941
50.000
3,854.095
445,758
COVID fund
1.242.568
(846,8101
3.913.589
1.242,568
(846.8101
{9,4941
4,299,853
General funds
General funds
8,176,793
600,872
{444,1601
9.494
275,014
8,618.013
Total
Unrestricted
funds
12,090,382
1,843,440 {1,290,9701
275,014 12,917,866
Page 33

THE BARRISTERS. BENEVOLENT ASSOCtATION
{A Company Llmlted by Guarantgel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
17.
Reconciliation of net movement in funds to net cash flow from operating activities
2021
2020
Nel income for the year las per Slatemenl of Financjal Activiliesl
508,586
827,484
Adjustments for..
Depreciation eharges
Nel g4ing on investments
Income from investments
Decrease in programme related investments
Decreasellincreasel in debtors
Increase in creditors
8,800
8,800
1814,634> 1275.0141
{197,691} 1290.367)
213,622
59.494
65,927
110,7681
1.529
3,469
12
14
15
Net cash provlded byllused inl operating activities
1213.8611
323,098
18. Analysls of cash and cash equivalents
2021
2020
Cash in hand
734,086
716,645
Total cash and Cash equivalents
734,086
716.645
19. Analysls of ehang85 In net debt
At1
January
2021 Cash flows
At31
Dècember
2021
Cash al bank and in hand
716.645
17,441
734.086
Page 34

THE BARRISTERS, BENEVOLENT ASSOCIATION
{A Company Limited by Guarant&e}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
20.
Ponsion commitment5
rhe Charity is eommitted to paying pensions to fomer sl¥ff. lotalling £1.775 12020 £1.7751 per month.
To quantify the value ol this Gorllmilmenl as al 31 December 2021 the Iruslees instructed a firm of
consulting actuaries lo formally estimate this liability for the purpose of its Stalulory financial statements.
This valuation was prepared under Technical Actuarial Standard 100.. Principles for Technical Actuarial
Work, as issued by the Financial Reporb'ng Council. Based on this the trustees consider that this liability is
not material to the financial position of the charity and hence no provision has been madè in thè financial
statements for this liability.
The arnount recognised as an expense in the year was £21,295 (2020 £21,295). TheTe were no
contributions payable to the fund al the Balance Sheet date (2020- £NIL).
21. Op8ratlng l•aso commitments
Al 31 December 2021 the Charity had commitments to make future minimum lease payments under non-
ancellable operating le8ses 8s follows..
2021
2020
Not later than l year
Later than 1 year and not laler than 5 years
36,208
18,104
36,208
54.312
54,312
90,520
The followng lease payments have been recognised as an expense in the Statement of Financial
Aclivilies=
2021
2020
Operating lease rentals
36,208
18,788
22.
Rolated party transactlons
There were no related party Iransadions during the year olher than Committee Members making
unreslricled donations of £5,765 (2020- £73,410) lo the Chaiily.
If a Committee Member knows an applicant, then they are not involved in the decision making process in
regards to agreeing loans or grant applications.
Page 35

THE BARRISTERS. BENEVOLENT ASSOCIATION
IA Company Llmitgd by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
23. Post balance sheet evènts
Following the year-end, in May 2022, the BBA received over £300,000 from the Gainsfor¢J Trust. This
receipt represented the transfer of Trust's nel assets as at Ihis date, less an excluded sum.
The funds are lo be held by the BBA on a re5tri¢ted b8$1S and are to be applied in furtherance of the
Trust's Objects.
Page 36