Charity Reglstration No. 1121739 coMnY Rogistratlon No. l)6428200 (England and Walgs) BALLINGER CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 AAEIR9RH 2910912021 COPJPANIES HOUSE A26
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BALLINGER CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs D Ballinger Mrs N Crowther MrA Ballin9er Mr J Flynn S•¢r•tary Ms J L Thomas Charlty nuMr 1121739 Company nurnr 06428200 R•gi$l•r•d offic• cio IAtNnble 8orKI Dickinson 112 Quayside NeKastle Upon Tyne Tyne and IlÈar United Kingdom NE130X Auditorn David Naim (Senior StatutoryAudrtoi) AzetsAudit Servtts Bede House 3 Beknonl Buwness Pa Durham DH1 1TW United lQngd Investment •dvlsors UBS 2 Sl James Pla Newcast UFK)n Tyne Tyne & tar NE4 7JH England
BALLINGER CHARITABLE TRUST CONTENTS Pag• Trustees, report Statement of trustees. respons*Jilrti8s Independent auditorfs report Statement of finanoal acbvilies Balance sheet 10-11 Stalemenl of ¢ash fttyvs 12 Notes to the financial Statements 13-23
BALLINGER CHARITABLE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020 The trustees present their report and financial statements for the year ended 31 December 2020. The financial slalements have teen prepared in accordance with the accounting poIleS set out in note 1 10 the financial slalements and comply with the charitable company's governing document, the Companies Act 2006 and "Accounting and Repong by Charities". Ststement of Recommended Practice applicable to chanties preparing their accounts in ac¢ordance with the Finanual Repcffting Stsndard applicable Ni the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191". Objectives and activEtles We grant money to Charitable causes a¢dIng lo the priwities we have chosen lo support. The mon&y comes from inojne generated by the investments held by the charitable company. In makn'ng dectsions abL)uI whh causes to support we are guided by the requirements of the Chanty Commission to fvrther publ Pr[ to Ihe Cowd pandemic. we would invite applicatsws for grants either bekyw over £5.000 via our website ercha rust. Since the outset of the Covtd paTrdem, we have gxperienwl reduced income from our asset portfolio. have pmritised our e$tr.ng MultYear grantees using our cash reSee9, and offered •bilIty on use of funding and extendlng the period for expenditure. Most cl our grantees with muEts'year grants expiring in 2020 have received the offer of a conb'nuation grant for an additional 12-monlh period. Many grantees have wuesled deferrals of granl payments. as they were able to access short-lem Covid support gfants. made avaikble by the UK Govemment and distributed by other funders such as the National Lottery COMMUnrt Fund Our online application system has teen paused since April 2020. Our average grant is currentty £15.Crf)O, with the highest grant being awarded in a single year £600.000 and k)wesl £250. Our workiTrJ team of Trustees Andrew. John and Nikki. supported by our Trust Co-ordinator, Joanne. visit prosFeclive and current grant holders as part of due dil¢gence and monitoring. For grants over £5,000. we scrutinise applicatKJns and due diligence material quarterly Tfustee meeb.ngs attended by all Trustees and our Trust Co•OTdinator.
BALLINGER CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020 A¢hievem•nts and p•rfomian¢• In the last year, we continued to focus our larger grants on donating to children and young peop in areas of deprivation and lo older people experiencing dementia. Ive also eonlinued our non-9rant making work lo". help charities labOrate suecessfulty to access funding conneel wth other funders both to redue mults.ple applThb'ons by charrts to mulliple funders and to bring new funder5 to the attent of Ictal charitie5 identify where govemance and management ¢hange5 can enable peopbe to realise their ambrtions for their charity We further expanded the number of small grants we make to community group grantees who a delivering very localised support to their ci>mmunilies. Andrew and John wularty attend funding fairs across the region to help us direct our grants in this way. also continue to woth with local councillors, local eouncils and civil society infrastructure OrganisatnS to h*ntrfy community groups to supp)rt In late March 2020, the TnJslees decKled to provN4e small grants to tharitsble organisats.ons supporting benefL'aries with emergency food and essent&als supplies through the earty stages of the COVKI pandemic. We provided 87 grants of £2SO to £1.000. totslling £53.300. ceased Ihis small grants programme al the start of May 2020 Our priorities remain the same across all of our wo. Through the year we made grants totslling £1.637,462 (2019.. £2,274.556) from InCe of £2.183.491 {2019.' £3.568.9281. Due to the red(rced income from our assets, we utilised our available cash reserves. In the Ih1 of low interest rates and the decrea asset value of the charrtable company, the Trustees have also arranged a kn facility wrth our investment managers UBS Wealth Management Ltd {"UBS') of £1.5(KJ,000. secured against the assets of the tharitable company. The loan was not utilised in 2020. Our grant-making and non-grant-making has been well $upported by r Tru$1 Co-ordinator Joanne and our website. In the post balance period, our asset Fortfolio continues lo receive reduced income levels compared with the period pre-covid pandemic. continue lo offei conb"nualion grants on a 12-month basis to those grantees with expiring mulli-year grants, and new grants to charitable organisalions we have hJenlrfied through our lunder nefvrk and relatKJnships. In part due lo some of our grantees requesting deferTal in grant payments in 2020 and through the first half of 2021. our UBS loan was onty utilLsed in June 2021. expect to have circa £1,070,000 of the loan facility in use by Ihe end of 2021.
BALLINGER CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020 Flnancial revlew Free reserves, which are funds available to the charitable company. stand al £29.830,436 12019. £40,356.7771, equivalent to the total income funds 5S designated funds and tsngibbE assets Sel out in the balance sheet Investments betsyeen balance sheet dates have decreased in value this year from £41.186.755 10 £30,773,219. refflecting the impact of the Covid pandemic on stcK market valuations in 2020. During 2020. the holding of Go Ahead Group pt shares was increased. but the overall value dreaSed from 2019. The planned April 2020 dividend payment by Go Ahead Group was cancelled. and dividends were not reinstated through 2020. The remainder of portfolio undef management by UBS Wealth Management Ltd I'UBS") also decreased in both value and yietd UBS and we. Ihe Twstees. have agreed an appropriate risk Profile for Ihe investments managed by UBS on our behaw. IAÈ keep investments under review wrth regular discussion with UBS and UBS benchmark investsnent portfolio perfrnnce. The majority of the income donations to the charitable CCAnpany are in the form of stock and total £1,720.075 12019 - £1.754.9961. The $tc<k ts being donated over a finite per. The tharrtable ccynpany's reserve policy is to seek lo establish a sound capital base to all¢)w On-wing inveslmenl income lo grow. We intend that investrnent income alone will rret future expendFture wuirements of the charitable company. We a$sess major risks for the charitsble company and are satisfY4d that systems are in place to mftigate exposure lo the major risks. The fv40 major risks are firslty that invesb)7ents fall snlCantIY in value. which is mitigated by our relationship with UBS. and secondly that granlees. charilies who receive grants from us, misuse the funds provided. We minimise the latter risk by assessing charrties prior lo making larger donations and subsequent monitoring Ihrough the donation period using written reports and in-person visits. expect to meet all designated funding commilmnts in the ccthing year and to continue to SUFP)rt charities to c4)mplele proiects. which fulfil our priorii*s. ThpJe are no uncertainties at the year-end regarding going concem. We expecl to continue the above Wofk streams. which we manage thrwgh the working team. our website and the pattern of Truslee decision-making currentty in OFeration. At any cfft time, we ha a number of multi-year grants for vthich we sel aside funds - d8signat8d funds. Infomiation on these grants can te found at note 16 to the accounts. Stru¢tur•• gov•rnan¢¢ and manag•m•nt In 1994. Martin Ballinger set up a tharItab f0uftdatn. The Baninger Charilable Trust, using part of his shares and divbyend income from Go-Ahead Group plc. whKh he had co-founded in 1987 as Go Ahead Northem Limited, following the privalisation of the Northem Bu5 Company. The Principal airns of the new foundation were to benefit the young and the old in the North Easi ol England, the home territory of both Martin Ballinger and Go Ahead Northem Limited. Martin Ballingefs bequest ol Go Ahead Group plc share5 in 2007 increased the capital of the foundation and has enabled us lo make £19,833.609 of grants since that dale. That same year the foundatrjn changed consb"tution to beccrfne a company limited by guarantee arKI Trustees became Directors of the compony. 9)verd by cpanY L•¥. The charity is a company limited by guarantee and is therefo govemed by a memorandum and articles of association. The memorandum and artides of association govem eligibilty for membersh) of the charity and membership of the Board of Trustees. The are no restrict5 in the goveming document on the operalton of the charity or on ils investment powers other than those imposed by general charity law. None of the TTUStegS has any beneficial interest in the company. Ail Trustees are members of the company and guarantee to onlribute £1 in the event of a winding up. The organisaticffi is govemed by a Board of Directots, whKh consists of nominated members.
BALLINGER CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEPABER 2020 The directors are responsible for the management and control of Tf 88llinger Charitabb8 TnJ8t and the overall direction of its wort. Those who semd during the yearwere." rs O Ballinger rs N Crowther MrA Ballinger Mr J Flynn The directors are stin referred to in their day to day work as truste8s. No Irusteè recruitmgnt is C41rrentty taking p18ce and we are not expecting to appoint new truslees. Auditor In ar£ordance wth th& cofflpffj's artideS. a resoluiKffl Frfowsing IhatAzetsAudit Serw¢es (formerfy Rowlands AcrL*untants) be rèappointed as auurtor of the company will be at a General Meeting. The report of the directors has been prepare¢J tskn.ng advantage of the small companies exèmption of secb.on 415Aof the Companies Ad 26. Dl$cloBUrn of Inforniatlon to audltor Each of the tnjstees has confinned Ihat there B no infcKmab"on of which they are aware which is rBlevant to the audit, but of which the auditor is unaware. They have (urlher o)nfim)ed thal they have taken appropriate steps to identsfy suth rElevant iTrforni81ion and to establish that the audrtor is aware of suth infom)ation. The Iwstees. report was approved by the 8oard of TNstee$. Mrn 0 8alllnger Trustse Dated. 81 -..fl.-..?oJ )
BALLINGER CHARITABLE TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2020 The trustees. who a also the directors of Ballinger Charitable Trust for the purpose of rKJrnpany law. are responsible for preparing the Trustees. Report and the accounts in xcordance with applicable law and Uniled Kingdom Aecounbng Standards {Unrted Kingdom Generalty keepted Accounting PraclKe}. Company Law requires the trustees to prepare &counts each financial year whKh give a true and fair view of the slate of affairs of the charitsble eompany and of the incoming resources and appltitKJn of resources. induding the in¢ome and expenditure, of the chantable company for that year. In preparing these COUnts, the trustees are required to.. - select suitablè accounting poleS and then them con$istenty'. - ObSee the Methj$ and principks in the Chaiities SORP: - fflake judgements and estimates that are reasonable and prudent" - stste whether applicable UK Accounting Sland¥d$ have been folk7wed, subj'ect to any malgrial departure$ discbsed and explained in lh8 accounts" and - prepare the accounts on the gow¥J CoeM baws unless it ts inwopriale to presume that the Chartsble company will conts'nue in operaknon. The trustees are sponSible for keeping adequate accounting rec4Nds that disdose with reasonable accuracy al any lime the financial pogth.on of the charitable company and enable them lo ensure that the accounts comply wrth the Companies Acl 2006. They a also wponsIb for safeguarding the assets of the Charitsble company and hence for taking reasonable steps for the prevefttft and detection of fraud and other irregularities. The trustees a snsIble for the maintenance and integrity of Ihe corporate and finanual infomialion included on the charitsble company's website. Legislat in the United Kingdom governing the preparation and dissemination of finanual statements may dffier from legiatIon in olheriurisdKlion$.
BALLINGER CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BALLINGER CHARITABLE TRUST Opinion We have audited the financial statements of BallirwJer charitab Trust {Ihe 'Chant) company'} for the year ended 31 December 2020 which comprise the statement of financial activtl]'es. the balance sheet, the statement of cash Ilows and the notes to the finanual ststemenls. including nIfiCant accounting policS. Thfr financial porting framework that has been applied in their preparation is applicab law and Unlted kn'ngdom Accounting Standards, including FRS 102 The Finanu81 Rep)rting Sland8rt1 applicable in the UK and Republic of Ilnè (Unrted Kingdom GeneraltyAccepled Accountsng Practsce). In our opinion, the financial statements". give a true and fair view of the stale of the chafTlabl& company's affairs as al 31 L)ecember 2020 and of its incoming resources anLY applicatKJn of resources, for the year then ended. have been property prepared in accordance with United Kingthim Generalty Accepted Acwunling Practu.. and have been prepared in a(tsrdancÈ with the requirements of Ihe ComleS Act 2006. Basis for opinion We ndUCted our audit in accordance with International Slandards on Audrting (UK) IISAS (UK)) and applicable law. Our respon$ibilitie$ undef those standards are further described in the Auditorfs responsibilities for the audit of the financial statements secb'on of our <)rt. a independenl of the charrtable COmnY in accordance with Ihe ethical qUIrements that are rdev8nt lo our audit of the financial statements in the UK, including the FRC'S Ethical Slandard. and we have fulfilled our other ethical $r)nsIbilitieS in accordance with these requirements. We believe that the audit evidence we have obtained is Sufficient and appropriate to provide basis foi our opinion. Con¢lu$ionts relating to golng ¢on¢em In auditing Ihe financial statements, we have concluded thal the trustees, use of the going concem basis of accounting in the preparation of the finanual ststements is appropriate. Based on the Work we have performed. we have not Akntified any maierial uncertainties rek2ting to events or conditions that, individualty of llectiVely. may cast signrfKant doubt on the charitable company's ability to onb.nue as a going concern for a ri{¥J of al lea$1 iwelve months from when the financial $¢atements are aulhorised for issue. Our responsibilities and the reS)nSibIlS of the trustees with respect to going concern are described in the relevant sections of this report. Other Information The other infomation compnses the information induded in the annual POrt other than the finarrial statements and our auditorf5 report thereon. The trustees are respJnSib the other information contained within the annual report. Our opinion on Ihe financial ststeffents does not cover the other information and we ¢J not express any fofm ol assurance conclusion thereon. Our responsikn.lity is to read the other information and, in doin9 so, consider whether the other information is materialty inconsistent with the finanaal statements or our knowledge obtained in the wurse of the audit. or otheiSe appears to be materialty misstated. If we identify such material Inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise lo a malerial misslatemenl in the financAal stslements 1heMsee$. If. based on the work we have perfomed, we conclude that there is a materkql misslalemenl of this other information, we are reqUId lo report that fact. have nothing to report in this regard.
BALLINGER CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BALLINGER CHARITABLE TRUST M*ttgr¥ on whieh we •rg requlred to report by exception We have nothing to rew1 in respect of the following matters in relation lo whith the Charitie5 (Accounts and Reports) Regulations 2CQ8 require us lo report lo you rf. in our opinn- the inf0mtion given in the financial statements is inconsstent in any material respect with the trustees, report., or sufficient accounting Tecords have not been kept. or the financial statements are not in agreement wth the accounting Tecords.. or we have not received all the informatK)n and explanatsons we require for our audit. Responsibilitle$ of tn1••$ As explained more lully in the Statement of Trustees, Resp)5¥111be$. the tsustees. who 8re also the direclors of the charitsble company for the purpose of C4Thpany law. are respOnble for the preparation of the aotounts and for being sats'sfied that they gNe a true and fair view. and for such inlemal control as the Iruslees delemine is necessary to enable the preparation of acuunts that a free frcth rnatenal mis5talement. whether d to fraud or error. In prepafing the accounts, the trustees are responsible for assessiThJ the eharilable eLJmpany's ability lo continue as a going cOnr, disdosing, as appIThb, matters reted to going concem and using the going eoncem basis of accounting unless the Iruslees erther intend to IiquKlate the company or to cease operations. or have no realisbc alternative but to do so. Auditorfs responsibllltles for the audit of the financlal statements We have been appointed as audrtor under section 144 of the Chanties Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectTves a to obtain reasonable assuran about whether the financial statements as a Who are free from material misstatement, whether due to fraud or error, and to issue an audrto¢s rert that includes our opinion. Reasonable assurance is a hh level of assuranee but Is not a guarantee that an audrt conducted in accordance wth ISAS {UKI will aayS detect a material misstslemenl when rt exists. Misstatements can arr5e from fraud or effoi and are considered malerial rf, individualty or in the aggregate. thèy could reasonably be expected lo influence the eo)nwic decis$ of users taken ts) the basis of these financral statements. A further deseriplKJn of our responsibilities is avaiLable on the Financial Repoth"ng Council's webstle al: hltps.'Il vrnw.frc.org.uklaudrtorsfftsponsibilities. This description loThns part olour audilorfs report.
BALLINGER CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BALLINGER CHARITABLE TRUST Extent to which the audit was considered capable of dotecting iwregularltl•s, including fraud Irregularib"es. incjuding fraud. are instances of non-compliance with laws and cegulalions. dewgn prfxedures in line with our responssbllits, outlined above and on the Financial ReF()rting CounrAI's website. to detect material misslatements in respect of irregulalrt. i1dIng fraud. We obtain and update our understanding of the entity, ts activitEs. its contfol environment, and likely fulure developments, induding in relatn to the legal and regulatory framework applb and how the entty 1$ complying with that framework. Based on this understanding, we identfy and assess the risks of material misstaternent of the financial ststements. whether due to fraud or error, design and perfonn audit procedures responsive lo Ih05e risks. and obtain audTt ewdence that is suftienl and 8PPfOPri8te lo provide a basis for otsr opinion. This includes consideration of the nsk of acts by the entty that were contrary to ap1¢able laws and regulations. including fraud. In response lo the risk of IrularItieS and Ie¢1Mpl8nc£ with laws and regulaticffls. including fraud, we designed Procedu which induded.. Enquiry of management and those charged wilh go¥emance around actual and Fthnlial liligalion and claims as well as actual. suspected and alleged fraud.. Reviewing minutes of meetings of those charged th go¥emance: Assessing the extent of compliance wrth the L3ws and regulations considered to have a direct material effect on the financial ststements or the operatK)n5 of the entsty through enquiry and inspection", Reviewing financial ststemenl disdosus and lestsng to supporting dc¢umentation to ossess compliance with applicable laws and regulations- Performin9 audit work over the risk of management arKI overrKJe of controls. iluding testing of journal entries and other adjustrnents for appropriateness, evaluating the business r8tionale of stgnrficant Iransacb'ons outside the n1 course of l)usines$ and revwing accounting e$tsmale$ for indicators of potential bs. Bause of the inherent limilations of an audrt there is a risk that we will not detect all irregularities, including those leading lo a material misstatement in the finanaal $tatements or non<omplrance with regulatsr)n. This risk increases the mofe that complianco with a l•v or regulation is removed fr¢)m the events and transactions reflected in the finanaal statements, as we will be less likety to become aware of instances of non- compliance. The risk of nol detecting a material missktemenl resulting from fraud is higher than for one resultsng from error. as fraud rnay involve crAlusKJn. forgery. intentional omissions, misrepresentslions. or the override of intemal control. David Nairn (Senlof SLtutory Auditorl for and on behalf of et* Audil S•r4iC Chart•r•d Ac¢ountants Ststutory Audltor e House 3 Belmnt Busin Park Durham United 'n9th)m DH1 1TW Azets Audrt Services is eligib for wointment as auditor of the Charrtab company by vA1ue of its eligibility for appointment as auditor of a eompany under of sedion 1212 of the Companies fv£t 20C6.
BALLINGER CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020 Unrestrlcted Unreslricled fund$ funds 2020 2019 Inco • and •ndo Donations.and le9aa.es Investments Olher incomo nts 1,720.075 1,7S4,996 438.416 1,676,322 25,000 137,610 Total in¢ome 2.183.491 3,568,928 Raising funds 23,910 41.482 Charitable XlitieS 1,689.427 2,329,097 Total rn$ources •xpond•d 1.713,337 2.370.579 Net gaInl$S0$1 on invesknents 112.008.5501 8,362,859 Not movement In funds 111.538,396) 9.561.008 Fund balances at 7 January 2020 42,859,632 33,298,624 Fund balanc08 at 31 De¢•mber 2020 31.321,236 42,859.632 The statement of finanual activilies includes all gains l¢)sses recognised in the year. All incorne arKI expenditure defive Irom continuing acbvibes. The statement of financial athties also ¢pIreS with the requirements.for an meome and expenditure account under the cOmpansACt 2008.
BALLINGER CHARITABLE TRUST BALANCE SHEET AS AT31 DECEMBER 2020 2020 2019 Not•s Flxed ass¢ts Tangible assels Investrnents 11 12 1.709 30.773.219 1.871 41,186,755 30.774,928 41,188.626 Current assets Debtors Cash at bank and in hand 13 47.826 510.422 30,197 1.652,450 558.248 1.682,647 Creditorn: amounts falling due within on• year 14 {11.9401 111,641) Net current assets 546.308 1.671.006 Totsl assets loss currenl Ilabiliti 31,321.236 42.859,632 Income funds Designated funds General unrestricted furKIs 15 1.489.091 29.832.145 2.500,984 40,358.648 31.321.236 42.859,632 31.321.236 42,859.632 10-
BALLINGER CHARITABLE TRUST BALANCE SHEET (CONTINUED) AS Af 31 DECEMBER 2020 The company is ents'ued to Ihe exemption frDm the audit requirement contained in seciion 477 of the Companigs Atx 26, for the year ended 31 December 2020, arthough an 8udtt has been t undor section 144 of the Charilies Aci 2011. The tfustees are responsible for ensunng trt thg tharity keeps accounting records whith comply wth section 386 of the Ad and for preparing aco)unts whith give a and fa view of the state of affairs of the rnmpany as at the end of the finanaal year. They are also responsible for its incoming restyjrces and applvbon of rgsourr£s. induding ils income and expendtture for the finanoal year in accordanc4 with the requirements of sections 394 and 395, and for compli8nc* the requirements of thg Companies Ad 20C6 relab.ng lo accounts, $0 far as applicable. The members hava t70t required the company to obtain an audit of its financial 8t8tements under the requirements of the Companies Act 20C6. for the year question wi accordance with sethon 476. These financial 8ts1ements have been prepared in aCrdanc with the provision8 applicable to c4)mpanies subject to the small mpanIeS regime. Tho finanaal state ntswere approvgd by the Trust88s¢n................... MrA Ballinger Company Rowlration No. l)64282110 11
BALLINGER CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020 2020 2019 Cash flows from operating activiti•8 Ca$h generated fromllabsorbed by) operations 19 14.835 (435.672) Investing actlvltles Purchase of tsngible fixed assets Purchase of investments Proceeds on disposal of investrnents Investment income receive(I 1265) (11.043,4461 9,448,432 438,416 11,3681 (9,353,367) 8,189.242 1,676.322 Nrt cash lus•d Inllg•nwated from Invostlng activities {1.156,863) 510,829 Nel ¢a6h used in flnancing activities Net {decrease)fiTr¢r•asa in ¢a$h and cash equivalents (1.142.028} 75,157 Cash and cash equivalents at beginnng of year 1.652.450 1,577,293 Cash and Cash •qui¥al•nts al end of y••r 510.422 1.652,450 12-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting polici•# Company infornlation Ballinger Charitsble Tfust is a private company limrle(I by guarantee incorporated in England and Wales. The registered office is CIO Kbmble Bond DKkinson. 112 Quayside, Newcastle Upon Tyne. Tyne and Ihtsar, NE1 30X. United Kingdcmn. 1.1 A¢¢ounting conventlon The financial statements have been prepared in accordarKe witti the charitable companls goveming document, the Compan$ Acl 2006 and -AUnts"ng and Reporting by charit.. Staternent Recommended Practice appli¢able to chariti'es preparing their accounts in accordance with the Financial Reporb'ng Standard applicable in the UK and Republic of Ireland {FRS 102) leffectNe 1 January 20191" The charitable company is a Public Benefft Enb"ty as defined by FRS 102. The financial ststements have departed from the Charitses (Accounts and RerK)rtsl Regulations 2008 only to the extent required to pmvide a true and fair view. This departure has involved following the Stslement of Recommended Practice for charities applying FRS 102 rather than the verson of the Statement of Recommended Practice which is referred lo in the Regulations bul whith has since been wilhdiawn. The financial statements a prepared in sleding, whth is the fvnctional cuTneY of the charitab company. Monetary amounts in these fInancj ststeffnts are rounded lo the nearest £. Assets and 14abilthes are initially recognised al historical cost or transactwi value unle$$ othe1$9 stated the relevant accounting poliw notes. The principal accounting policies adopted are sel out bek)w. 1.2 Going concern At the time of apprwng the ffinancial stslements. the trustees have a feasonable expectation that the charbtsble company has adequate resources lo ntinUe in opgrational existence for the foreseeable lulure. Thus the trustees continue lo •Jopt the g(Mng concem basis of accounting in prepa[W the financial statements. 1.3 Charitsble funds Unrestricted funds are available for use at the diSCretn of the tTUStees wi furtherance of their charitable objectives. Restricted funds are subj'ect to spetsfic Corn$ by donors as to h¢YN they may be used. The pUrpS and use5 of the StrICted fvnds are set out in the note5 to the financial S&eMents. Oesignaled funds cornp funds vthKh have been set asvje at Ihe discretion of the trustees for Specrfic purposes. The purposes and uses of the desNJnated funds are set out in the note5 to the acLounts. 1.4 In¢om• Income is recognised when the charitsble company is entitled to it after any performance cond((n$ have been mel, the arnount5 can be measured reliably, and rt is probable that income will be received. Cash &)nations a COgnised on receipt. Other don8n$ are recognised once the charitabLg company has been notified of the donat, unless performance conditions require dèferral of the amount. Income lax recoverable in relal)n to donatnS rec£ived under Gfftd or deeds of eovenant is recognis&J at the lime of the donation. Legacies are recognised on receipt or otheMise rf the charhtsble company has been notified of an impen¢Jing distribution. the amount is known. and receipt is expected. If the amount is not kn¢)wn. the lega Is treated as a eontingent asset. 13-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting poliGies (Contlnued) 1.5 Expehditurn Liabilities a recogrtised as expendrture as soon as there i$ 8 legal or cx)nstructNe obligation wmmitting the charity lo that expenditu, it is probable that setwement will be required and the amount of the oblig"on ean be measured ieliaW. Grants payable are payments made to third part in the furtherance of the charitable objectrves of the Trust. In the case of an unconditional grant offer this is accrued once the reapient has been nol(fied of the grant award. Grant awards that are wbpct to the Trf1pnl fulfilling perforrnane conditions are only 0rUed when Ihe recipienl has been notffjd of the grant and any remaining Unfulled conditions attaching to that grant are outside of the contrLI of the Trust. Provisions for grants are made when the intention to make a granl has been communicated to the ciplent bul there is uncertainty as to the liming of the grant the amount of grant payable. A provision for a muth"_year grant is recognised at its present value where settleffenl is due over more than one year from the dale ol the award, there are no unfuffilled perfomiance nditIonS under the control of the Trust that woukl pemit the Trust to a¥0 making the future paymenlls), setjlement is pr0tyab, and the effect of di$UntIng is material. The discount rate used is the rale offered on government bonds Igiltsl for a cOmnSurate or similar time pericoj offed in the year in whth the grant award made. 1.6 Tangible f•xed assets Tangible fixed assets are initially measured at cost and subsequenvy ffasured at cost or valuatn, net of dewecialion and any impaimient losses. Depreciation is recognised so as to write off thg cost or valuation of assets less their r8sidual values over their useful lives on the following bases: Fixtures, fittings & equipThnl 20% reducmy balanc• The gain or loss arising on the disFwl of an asset is detemiined as the drference be8&n the sa18 prmds and the carrying value of the asset. and is relgnised in net incomell8xpenditure) for the year. 1.7 FIX asset Investments Fixed asset investments are staled at market value as al the balanee sheet date. The statement of financial activities Includes the nel gains and losses arising on revaluation and disposals Ihroughwl the year. Disposals of investrnents are treated on a FIFO basi5. Dividends are included in the income and expenditijre account when they are declared. Bank interest is incjuded in the income and expenditu account on a receNable basis. 1.8 Dwbto Trade and other debtors are reeognised al the setdement arTr)unl due after any trade discount offered. PpaymentS are valued at Ihe arrKJunt Prepa after laking a¢nt of any trade discounts due. 1.9 Croditors and provisions Creditors and provisions are recognised where the charity has a presenl obligatn resultiThJ from a past evenl that will probabty resull in the transfer of fvnds to a third paty and the amount due lo settle the obligation can be measured or estimated reliabty. Credrtors and provisions are normalty recognised at their settlement arnouftt after allowrng for any trade discounts due. 14-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Donations and l•gacies 2020 2019 Donations and grfts 1,720,075 1,754,996 Investments Unremtricted Unrestricted funds funds 2020 2019 Income from listed investments Interest feceivab 436.401 2,015 1,669,044 7.278 438.416 1,676,322 Other Income Unre8trlctod funds Total 2020 2019 GfftAtd income 25,(1 137.610 Ralslng funds 2020 2019 Investment marymenl 23,910 41.482 23,910 41,482 15-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 310ECEMBER 2020 Charitable actlvilies Total 2020 Total 2019 Staff costs Depreciation and impaimient bsite Postage Travel Consullancy Sundrs Bank charges Phone Audit fees Profeonal fees 18.515 427 970 771 338 24.IX 1,142 30 492 5.280 18,366 468 971 746 788 24.000 1,356 30 554 5,280 1,982 51.965 54,541 Grants made to instilutions 1.637.462 2,274,556 1,689.427 2,329,097 Grants payabl• Grants were made durirs year to insblut#Jn8. olwhith foJloJing ex(eded £20.000 pgr annum.. 2020 2019 Age UK North TynesNJp Cleveland Ar¢ Coatham House Community Campus Cramlingrt Volunlwy Youth Propct D2 Youth Zone Dementta UK Dementia Mallers First Stop Daflington Hartlepcol NDC Trust StAnthony's Youth & Education Support Patchwoth Projed Royal Voluntary Serv Save the Children WallserKI c[dren'S C¢mmunityl Save the Children lIsend Clihjren's Comfflunityl sierI1ne MenvJri&s CIO Aa Youth ConsctKim Sirethi5e 90,000 189.187 52,438 20.0 20,ts)0 20,000 32,000 28,OlX 35,0 103,344 20,000 30,000 20,714 24,047 22,500 95.CQO 20,000 20,OL 83.333 83,334 27.970 20,CKIO 24,460 20,000 40,000 25,CK)O 25.¢J)O 16-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Grants payabl• {Continued) Sunderland Al T¢)ge West End Klynan & Girls 80,fy)0 150,000 26,964 501,303 946.994 Tru$t•es John Flynn received £24,000 {2019.. £24,000) from the Charity in lieu of bst income for his time spent on work for the Charity during the year. and was also reimbursed £301.32 for travel expenses incurred P019 - £410.40). The twstees believe Ihis sum is a worthwhile Cost due to the value of expertise Mr Flynn provides to the charity. N•t gainslllos8es> on inv•stm•nts Unre8trl¢tsd Unrestricted funds fUrS 2020 2019 Revaluation of investments Gainl{lossl on sale of investments 111,523,411) 8.367,449 (485.1391 (4,790) (12.(MJ8.5501 8.362,659 10 Employee8 Number of employe¢8 No employees remunerattr)n was over £60.000. The average rrththty nurnber of employees during the ye81 was.. 2020 Number 2019 Number Employment Costs 2020 2019 es and salaries Other pension sts 18,144 18,000 366 18,515 18,366 17-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 11 Tanglble fixed ass•ts F6xthrn¥, frttlnqs & equlpment At l January 2020 Additions 2,622 265 At 31 December 2020 2,887 Depreclatlon and impalmwnt At 1 January 2020 Depreciation charged in the year 751 427 At 31 December 2020 1,178 Carying amount Al 31 December 2020 1.709 Al 31 December 2019 1,871 12 Fixed asset invostments Listed investments Ct or valuation At 1 January 2020 Additions Vauation changes Disposals 41,186.755 11,043.446 111,523.411) (9,933,571) Al 31 08mber 2020 30,773,219 Carrying amount Al 31 December 2020 30,773,219 Al 31 December 2019 41,186,755 Flxed asset investments revolued Listed investments are included al their market value as at fv balance sheet date using the cbstng quoted market price. The historic cost of the inv8sbnents * the balance sheet date was £38,044,949 12019 £35,814,645). 18-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 13 Debtorn 2020 2019 Amounts falllng duo wlthin one year. Other debtors 47.826 30.197 14 Cvedltors: amounts falling due within one yur 2020 2019 Accruals and deferred ineome 11,940 11,641 16 0esign•¢od funds The income funds of the chanty indude the folwing destqnated funds whth have been set a$e out of unrestricted funds by the trustees for spectfic purposes." Mov•m•nl in fund8 Balancè at 1 Incoming Resources Balance at 31 January re8oU8$ exnded Decem1 2020 2020 700 Club AYoU1 Adion on Oemenlia Active Tees Valley CIC Age UK North Tyneside Age UK Sundertand AIM North-East bert Kennedy Trust Amble Youth Projects Apnaf Ghaf BCT Aspire Bell View Bensham & Saell Aive Berwtck Youth Project Billingham Enviromental Link Bilton Hall C¢)mmunity Cenlre Birtley Community AsscKialTron Btyth Tall Ships Brandon & Carrside Youth & Communty Breckon Hill Communty Enterpnse Bright Futures Children's SOcty Churches Together South Tynegde Cty of Dreams Coalham House CoMfY Project Community Campus 87 Ltd 30.000 30.000 15,IX)O 15.Ci)O 15,Crt)) 15,000 15.000 15,WO 5.000 90.C 90.000 2.500 10.oc 10.0 8.750 2.500 10,0 10,000 8.750 37.000 18,5C(I 15.oc 8,OCKI 10.000 18.414 18,500 30,000 500 45.000 8.500 10.000 36,828 1 5,000 20.000 30,000 20,000 15,000 14,934 38,904 8.723 13.000 18,414 15,000 10,000 15,000 10,000 1 S,000 10,000 15,000 10.000 14.934 (38,9041 8,723 113,0001 20.CQO 10,500 20.000 20,000 3,500 20,000 7,CKIQ 19-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 15 (>esignatod fund (Continued) Communty Counselling Cwrative Cov119 Response Cramlington Voluntary Youth Project Dementia Matters 2 Dementia Matters 3 Denton Youth & Community Centre Ory WaterArts CIC Durham Area Youth Easington Social Vvettare Eastem Ravens Trust Edberfs House Employabilty Trust Epic Teeside CIC First Stop Darlington Free the Friends of EasOod$ Park Friends of Fawdon Community Library Gateshead Oldgr People'sAssembty Grandparent Plus HaepO07 Carers Hartlepool NOC Trust Hartlepower CIO Heartbeat HeOrthri81d Community Associalion Hetton New Dawn Hopespring Hospitslty & Hope Integrating Children Involve Community Partnership Kenton Park Communty ASSratIOn Kids, Kabin dz Konnekt Kilmarnock Road Children & Young People Famity Resou Centre King'5 Church Meadow Well Connecled Mind Active MIND Redear & Cleveland Monkchesler coMJnty Assttiation Natural Ability Neighbourhood Youth Projects NEPACS New${le Care North East Young Dads & Lads Project North Tyne Youth North Tyneside Disabilty Forum Northern Stage Northumberland CVA Northumbrra Coalitn against Crime Old Co-operative Community Hub 21.720 52.8 7,240 52,800 14.480 40,000 59,726 40,000 14,7261 55.000 40,000 15,000 16,000 9,080 7.500 16,000 15,000 15,000 15,000 20.000 40.000 15,000 16,000 18,160 9.080 32,OCK) 15,111)0 15,000 30.000 20.000 11,288 30.000 5,0th) 30,0 40.000 30,000 30.000 16.C4)0 15,000 30,000 5,000. 15.000 15,000 40,000 15,000 10,000 15,CQO 7.000 15.oc 20.000 15.1) 7.000 7.942 7,942 10,000 30.000 5.000 15.824 10.0(wJ 15.0 15,000 5,O¢YJ 7,912 8,$00 12.000 6.250 15,000 7,912 12.000 6.250 30.000 15,000 15.000 15.000 15.000 7,500 15,000 15.000 17,300 15.OCKJ 15,000 17.300 34.600 10.OC() 24,Crf)O 2&8.133 20,000 30.0 {10.000) 12.Crf)O 12.000 265,175 10,000 15,000 15,000 9,042 10.000 15.000 15,000 15,780 15.C 12.000 15.780 15.000 12.0(J) 8,500 12,000 130,0001 8.500 12.C(Q 30.000
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 15 Designated funds (Continued) Park lfiew Sch¢4)1 Pennywell Neighbourhood Centre Perth Green Community Associath)n Projects4Change Recovery Connections Rethar & Cleveland Voluntary Development Agency Re(kar Development Trust Royal Voluntary SerVe Save the Children lIsend Children's Comrnuntyl Save the Children Iwkllsend Children's Communtyl Seahouses Developmenl Trust Search Sifverline Memories Single Homeless Aclion Initsalr¥e 10.000 10.000 19,887 19,887 Is,000 22.500 15.000 15,WO 7.500 15,000 15,000 8,000 15,000 26.500 8,000 15,000 16,500 10,000 27.970 27.970 166,666 10.000 30,000 20,000 30.000 9,OCKI 17,500 20,100 15.000 6,000 83.333 10,0 83,333 30.000 20,000 15,000 5,000 17,500 15,000 4,000 Smile for Lifv Childn,$ Charity South Stanley Partnefship South Tyneside Churches South West Tyneside Methodist Church Sl Chad's Community Project St Hild's chUh of England Scho St Paul's Community Partnership STAMP Revisited Slao KKIS Club Slreehvise Sunderland & North Durham RBS Sunderland All Together Consortium Sunderland Bangladesh Inlemational Centre Teams Lrfe Centre TeessKle Dementia Link ServKes Tin Arts Liiniled Together Middlesbrough & Clevelan¢J Trinity Centre Upper Coqueldale Communty Transwt Upper TeesdaleAgrKultural Supp)rt Service Useful Vision Èarside fftbmen in Need IAÈSI Mew Project Children & Young Pecyle's Activity Centre Wharton Trust Whippet Up CIC Women's Health in South Tyneside odshed rkshOP C5C YMCA Newcaslle YMCA North TYnese Young Asian Voices Young Women's Outreach Project 10.200 1S,000 6,000 15,000 5,500 2,000 15.0 5,500 2.0 20.000 {5.0001 20,000 5.000 50.000 40.000 25.wo lo.0? 80.OCiI 15.0 25,000 10,000 240.fy)0 180.000 15,000 10.450 19,596 10,450 9,798 9.798 17.500 10,000 2,275 17.500 10.OC4) 3,275 18.000 15.(MJO 10.400 11.000) 9,000 15,OCrf) 10.400 30,000 45,000 15,000 24,000 24.000 5,000 18,750 30.000 9.375 15.000 15.000 18,000 1 S,000 11,820 10,000 9,375 15.000 30,000 4S.000 le.0 15.000 11,920 23.740 10.000 21-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 16 Dosignated fvnds (Continued) 2.500,984 529.124 1.541.017 1,489.091 Neighbourhood Youth Projects (NYPI Together with Sir James Knott Twst and LGA Foundation. the Ballinger Charilable Trust has been supporting the NewcasUe Neighboufhc¢4J Projects INYPI wilh a mix of core cost grants and grants for collaboralNe working since November 2019. The Newcaslle NewJhLrho0d Youth Projects constst of seven chanties in the west end and east end of Newcastle.. D2 Youth Zone Kids Ka'n North Benwell Youth Project Northbourne Youth Initiative Patchwork Project Sl Anthony's Youth & EducatLW)n Support (Tr Bosler) Wed End 1)Meft and Gifls Sundtrl•nd All Together Consortium CIO (SATC) In 2015. Icral youth work organisatKJns in Sundedand came together lo develop a collective appr¢)ach on how to overcome various chalknges and be$t support the chikjren and young people of Sundertand. The member organisations developed their consortium into a Chantable incorporated organisotion that's now equipped and prepared to buikl a sustainable future for youth work services. The Sunderland All To9ether Consorburn ISATCI formally registered as a charitable incorporated Organisaln in February 2019. The 8 tunI memter organisations a Bluthvatch Youth Centre. Lambton stet Youth Cenlre. Oxclose & District Young Peoples Prqect, Pennywell Youth Project, Sunderland North Communrty Business Cenlre. Southwi¢k Neighbourhood Youth Project. The Box Youth Project and Youth Aknuhty Youth Project. The Ballinger Charrtable TN$t eurrentty supports this eonsortium's G(K<l Vibes project alongside the National Lottery. Unrestrl¢t•d funds 2020 Total 2019 Fund balances al 31 December 2020 are represented by.. Intangible red assets Tangible assets Inve51menls Current asseIll8.11Ile$) 1,709 1,871 30.773,219 41.186,755 546,308 1,671,006 31,321,236 42,859,632
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 17 Events after the r¢porting dat• In September 2021. it became apparent that the UK vras strll in Ihe grip of the global pandemtc of the Covid-19 virus. This has affeeted the fixed asset investment values of the Trust which on 14 September totalled £10,751,038 down from a value of £11.799.774 at the year end. The pandemic has also affected the income generation from the fixed asset investment a5 many inve5trnents have ceased paying a dmdend. As noted in the Trustees, Report and on the Trust websrte. grant-nkIng plans have changed to reflect the change in finanaal rurceS availab to Trustees. 18 Related rtY tran¥actions During the year Mrs D Ballinger a lrnstee of The Ballingw Charitat4e TnJst donated £1,720.075 12019 £1.754,996) to the trust. Fees in the Sum of £24.OfM)12019 £24,0¢]o} were paid to Mr J Ftynn a trustee of The Ballinger Charilable Tnjst. 19 Cash generated frorn op•ration8 2020 2019 {Ditysurpus for the year 111.538,3961 9,561,008 Adjustments fw". Investrnent income regniSed in statement of financial actiwties Loss on disp¢)sal of investments Fair value gains and losses on investments Deprecaation and Impairt of tangible fixed assets {438,4161 {1,676,3221 485,139 4,790 11,523.411 (8,367,449) 427 Movements in working capital.. IlncreaSe}Idease in deb Increase rn creditors 117,6291 299 41,588 245 Ca$h genernt froml(absorbed by) opor•llons 14,835 1435,672) 20 Anatysis of ¢hang• in not fund8 The charitsble company had no debt during the year.