Charity registration number 1121739 Company reglstratlon numb&r 06428200 IEngland and Wales) BALLINGER CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
BALLINGER CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustses Mrs D Ballinger Mrs N Crowther MrA Ballinger Mr J Flynn Secretary Ms J L Thomas Charity number 1121739 Company number 06428200 Registered office Bede House Belmont Business Park DURHAM United Kingdom DH1 1TW Audltors AzelsAudit Services Bede House 3 Belmont Business Park Durham DH1 1TW United Kingdom Invgstmgnt advl$ors Rathbones Earl Grey House 75-85 Grey Street Newcastle Upon Tyne NE16EF England
BALLINGER CHARITABLE TRUST CONTENTS Page Trustees, report Stslemenl of trustees. responsibilities Independent auditorfs report Statement of financial activities Balance sheet 9-10 Stslemenl of cash flows Notes lo the financial statements 12-29
BALLINGER CHARITABLE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 31 December 2023. The financial slalements have been prepared in accordance with the accounting policies sel out in note 1 to the financial statements and comply with the charitable company's Igoverning documenll, the Companies Act 2006 and Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republie of Ireland IFRS 1021 leffective 1 January 20191. Objectives and activities We grant money to charitsble causes according to the priorities we have chosen lo support. The money wmes from both income generated by the investments held by the charitable company, and from expending in part those investments from time lo time. In making decisions about which causes to support we are guided by the requirements of the Charity Commission to further public benefit. We invite applic4lions for grants via our website ballingercharitsblelrust.org.uk. Our typical grant award in 2023 was between £10,000 10 £20,000 per annum, lor a 2 or 3 yèar period, though our grant values have varied over time, our highest grant awarded in a single year was £600,000 and our lowest £250. Our working team of TrLJStees, Andrew and John. supported by our TrLJSt c(OrdInatOr, Joanne, visit prospective and current grant holders as part of due diligence and monitoring. We encourage grantees to set the parameters for use of grant,. we offer 95°/o of grantees either unrestricted funding or funding for core running costs. For grants over £5,000, we scrulinise due diligence material in quarterly Trustee Meetings attended by all Trustees and our Trust Co-ordinator, and for project specific grants we request a brief proposal and budget aligned lo the intended project expenditure. Achievements and performance In the last year, we continued lo focus our grants on supporting children, young people and older people, particularly those with dementia and their carers. We also continued our non-granl making work lo. help charities collaborate successftjlly to access ftjnding connect with other funders, both to reduce multiple applications by charities to multiple funders and to bring new funders lo the attention of local charities identify where governance and management changes can enable people to realise their ambitions for their charity. We continued with a number of small l°micro"I grants we make lo community group grantees who are delivering very localised support to their communities. We do so by continuing lo work with local councils, councillors and civil society infrastructure organisalions lo identify community groups lo support. Those grants are £1,000 or less. Our priorities remain the same across all our work. Through the year we made grants totalling £3,471,03412022'. £1,818,769) from income of £1,504,832 {2022". £21,049,9431 with the remainder from capital. (Note that thè 2022 income figure was excèptional and represented by the two cash contributions received in November 2022 as described in the previous year's accounts. Accounting rules require this lo be Irealed as income. In practice the Trustees regard it as part of the capital of the Trusl.I The Trust was successful in applying for a £400,000 Reaching Communities grant from NLCF in Autumn 2022 for a project entitled 'County Durham Direct Delivery Youth Partnership,. The money was distributed by the Trust as a series of one-off, maximum 12-monlh long commissions with partner organisalions who deliver to children and young people in County Durham, starting In November 2022 with distribution of funds completed by end of October 2023. The £400,000 grant was received from NLCF in 2 equal inslalmenls, acros5 2 successive half years, on 1 November 2022 and 1 May 2023, with the grant lolal also being extended by NLCF, with a further £40,000 received on 1 May 2023.
BALLINGER CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Our grant-making and non-granl-making work has been well supported by our Trust Co-ordinator Joanne. In the pèriod, we continued with rènewing mulli-year grant relationships wi(h most of our existing grantees and re-opened our online grant application system in May 2023 10 identify potential new grantees. The largel grant expenditure for 2023 was £3m, and in 2024 this will be £3.25m. Flnanclal revlew Free reserves, which are ftjnds available to the charitable company, stand at £53,392,183 12022.. £56,615,587), equivalent to the total income funds less restricted funds, designated funds and tangible assets sel out in the balan sheet. Investments between balance sheet dales have increased in value this year from £53,334,756 10 £57,014,228, reflecting that our portfolio of investments managed by Rathbones Group plc I'Ralhbones"l increased in value. In 2023, the charitsble company received donations tolalling £240,00012022'. £19,699,999). (Note that donations in 2022 were exceptional,. a single donation of £17,500,000, and a separate donation of £2,000,000 for which the donor instructed Gift Aid lo be claimed, were received. The gift aid was duly claimed from HMRC and received as a payment of £501,034 in February 2023. Those two donations conclude a transfer of assets Into the Trust that has been regularfy ongoing since 2007.1 Rathbones were appointed as the new delegated investment manager in November 2022. A transfer of investments and cash from the previous investment manager lo Ralhbones commenced 29 November 2022 and was completed on 20 April 2023. In late 2022. the Trustees decided to spend down the total assets over a 20-year timeline, commencing in 2023. The Trustees agreed lo aim lo expend £3,000,000 in 2023 and increase this expenditure in annual increments of £250,000 thereafter, until the annual expenditure reaches £6,000,000. For the lime being, this deusion to spend down is being kept under annual review by the Trustees. At year end the portfolio had increased in value. Ralhbones and we, the Trustees, have agreed an appropriate risk profile for the investments managed by Rathbones on our behalf. We will continue to keep investments under review with regular discussion wth Ralhbones and Rathbones benchmark investment portfolio performance. We assess major risks for the charitable company and are satisfied that systems are in place to miligale exposure to the major risks. The b0 major risks are firstly that investments fall significantly and unexpectedly in value, which Is mitigated by our relationship with Rathbones, and secondly that grantees, charities who re1ve grants from us, misuse the funds provided. We minimise the laller risk by assessing charities prior lo making larger donations and subsequent monitoring through the donation period using written reports and in-person We expect to meet all designated funding commitments in the coming year and lo continue lo support Charities to complete projects, which fulfil our priorities. There are no uncertainties at the year-end regarding going concern. We expect to Continue the above work streams. which we manage through the working team, our website and the pattern of Trustee decision-making currently in operation. At any one time, we have a number of multi-year grants for which we set aside funds Information on these grants can be found al note 17 to the accounts. designated funds.
BALLINGER CHARITABLE TRUST TRUSTEES. REPORT (GONTINUED)IINCLUDING DIREGTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 structure, govemance and management In l 994, Martin Dallin9er set up a tharitable foundation, The Ba11inger Charitable Trust, using part of liis shares and dividend income trom Go-Ahead Group plc. which he ccplounded in 1987 as Go Ahead Northem Limited, fdlowng tha privab'sation of the Northem Bus Company. The pn'napal airns of the new foundalicn were to bènèfit the young arKJ the old in the North East of England, the home lefritory of bolh Marlin BalliivJ¢r otTJ Go Ahead Northem rnited. Martin 8allingerf5 bequest of Go Ahead Group plc shar&s in 2C07 increasad the Gapit ol the foundation and has enabléd us lo make £26,663,118 of grants since that dale. Th sama yègF the foundation Ghanged Gonstitubon to become a company litnit&d by guarantee and Ttusle¢s trMe Directors 91 the company, governgd by company Law. The chanty is a company limited by guarante& and is thereforg govern9d by a mernorandum and artides ol asswatson. The mernorandum and articles of as50ciats.on govern eligibility lor membership of the charity and mK>mhArqhip of th@ Board of Tl$tO@s. Thgro aro no r•strictions in thé gov•ming document on th• op•rAtion of the charity or on ils inveslrnenl powers other than thosg imposed by gÉnoral charity law. None of the Trustees na5 any berfial Intest In tne company. All Trustees are mernfrs of the eompany 8nLI guarantee to contribLltè f1 in th& &v•nt of a winding up. Tne organisation Is govemed by a Board of D1CtOrS, which consists of nominated momtfjts. The dirtr$ arè iesponsible for the management and control of Thè BlIrer Charitable Trust and the overall direction ol its work. Thosè Mrt)o sèrvÉd during tho year werè. Mrs D Ballingèr Mr5 N CrowUi&r Mr A AAllino MrJ FIYM The directors are still referred to in th&r day to day work as tmstees. No trustee recruitment 15 currenuy tskir pla and we are not expectino to appoint néw trust Auditor In accordance the company's artides, a resolution proposing Ihat Azets Audlt servIs LE rear4)ointed as auditor of the company will be put at a General Meeting. The report ol the directors has been proparad taking advantag• of th• gmall Companies oxomption of sèction 415A tsf the Compant¢s Act 2006. Dis¢lo$ure of inlorniation to auditor Eacn Of the trusiees nas conhmiea tnat tnere Is no lnfomiats.on of whi¢ they are aware which is relevant to the audit. but of whieh #iJ(litN is iinawaro. Thoy rth•t eonffmied that they have taken approprigt• stps to identify such relevant infom)ation and to establish that the auditor is aware of such infomiatiw_ The trustees, r¢port was aprffoved by the Board ofTru$l&es. Mrs D Balllngor Trustee
BALLINGER CHARITABLE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, who are also the directors of Ballinger Charitable Trust for the purpose of company law, are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pracli¢el. Company Law requires the Iruslees lo prepare accounts for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that year. In preparing these accounts, the trustees are required to.. select suitable accounting policies and then apply them consistently", observe the methods and principles in the Charities SORP", make judgements and eslimales that are reasonable and prudent.. and prepare the accounts on the going concem basis unless it is inappropriate lo presume that the charitable company will continue in operation. The tiuslees are responsible for keeping adequate accounting records that disdose with reasonable accuracy al any time the financial position of the charitable company and enable them lo ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may drfter from legislation in other jurisdictions.
BALLINGER CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BALLINGER CHARITABLE TRUST Opinion We have audited the financial slalements of Ballinger CharV(able Trust Ilhe 'charilable company'l for the year ended 31 December 2023 which comprise the statement of financial activities. the balance sheet, the statement of cash flows and notes lo the financial slatemenls, including significant aoUntIng 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 the UK and Republic of Iland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial slatemenls.. give a true and fair view of the slate of thè charitable company's affairs as al 31 Dember 2023 and of its incoming SoUrceS and application of sourCes, 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. Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are ftjrther described in the Audilorts SponsIbl1rfAes for the audit of the financial statements section of our report. We are independent of the charitable company in a¢¢ordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance ¥Mth these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilibes of the ttuslees wth respect lo going concern are described in the relevant sedions of this report. Other inforniation The other information comprises the information included in the annual report other than the financial slalements and our audilorfs report Ihereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomialion and we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wth the financial statements or our knoedge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo dètermine whether thi5 gives rise lo a material misstalemenl in the financial statements themselves. If, based on the work we have performed, we con¢lud& that there is material misstslement of this other information, we are required lo report that fact. We have nothing lo report in this regard. Matters on whlch are requlred to report by exceptlon We have nothing to report in respect of the following matters in relation lo which the Charities (Accounts and Reports) Regulations 2008 require us lo report lo you if, in our opinion". the information given in the financial slalements is inconsislenl in any material respect with the Iruslees, report., or sufficient accounting records have not been kept., or the financial slalements are not in agreement with the accounting records", or we have not received all the information and explanations we require for our audit.
BALLINGER CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BALLINGER CHARITABLE TRUST Re5ponsibilitie5 of trustees As explained more fully in the Statement of Trustees, Responsibilities, the Iruslees. who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the aount$ and for being satisfied that they give a true and fair view, and for such internal wntrol as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error. In preparing the accounts, the trustee5 are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend lo liquidate the company or to cease operations, or have no realistic alternative but lo do so. Auditor's responsibilities for the audit of the financial ststements We have been appointed as auditor under section 144 of the Charities Act 2011 and reFx)rt in accordance wth the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance aboLJt whether the financial statements as a whole are free from material misstatement. whether due to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatemenls. A further description of our responsibilities is available on the Financial Reporting Council's website al.. https'.11 www.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's 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 detecting irregularities, including fraud Itregularilies, Induding fraud, are Instances of non-compliance with laws and regulations. We design procedures in line wth our responsibilities, outlined above and on the Financial Reporting Council's website, lo delect material misslalements in respect of irregularities, including fraud. We obtain and update our understsnding of the entity. ils aclivilies. ils control environment. and likely future developments. including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary lo applicable laws and regulations, in¢luding fraud. In response to the risk of irregularities and non-complian with laws and regulations, including fraud, we designed procedures which included.. Enquiry of management and those charged with govemance around actual and potential litigation and claims as well as actual, suspected and alleged fraud., Reviewng minutes of meetings of those charged with governance., Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial stslemenls or the operations of the enlily through enquiry and inspection," Reviewing financial stslemenl disclosures and testing lo supporting documentation lo assess compliance with applicable laws and regulations., Performing audit work over the risk of management bias and override of controls, including lesling of journal entries and other adjustments for appropriateness. evaluating the business rationale of signifi¢anl transactions outside the normal course of business and reviewng accounting estimates for indicators of potential bias. Because of the Inherent limitations of an audit, there is a risk that we will not detect all irregularities, including thosè leading to a matèrial missl8temenl in the financi81 slalements or non-compliance wf(h regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflècted in the financial slalements. as we will be less likely lo become aware of instances of non-compliance. The risk of not detecting a material misslatemenl resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery. intentional omissions, misrepresentslions, or the override of internal control. This report is made solely lo the company's members, as a body, in accordance with section 391 of the Companies Act 2014. Our audvc work has been undertaken so that we might slate to the company's members those matters we are required lo state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. Joanne Regan FCA (Senior Statutory Auditor) for and on behalf of Azets Audlt Servlces 23 September 2024 Chartered Accountants Ststutory Auditor Bede House Belmont Business Park DURHAM United Kingdom DH1 1TW Azels Audit Services is eligible for appointment as auditor of the charitable company by virtue of ils eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
BALLINGER CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted Restrlcted funds funds 2023 2023 Total Unrestrfcted Restrlcted funds funds 2022 2022 Total 2023 2022 Notes Income and endowments from: Donations and lègacies Investments Other income 240,000 1,291 240,000 1,284,832 19,699,999 649,811 500,000 200.000 19,899,999 133 649,944 500,000 1,263,541 Totsl income 1,263,541 241,291 1,504,832 20,849,810 200,133 21,049,943 Ex enditure on: Raising funds 126,293 126,293 137,142 137,142 Charitable activities 2,960,276 589,769 3,550,045 1,576,509 322,455 1,898,964 Total expenditure 3,086,569 589,769 3,676,338 1,713,651 322,455 2,036,106 Net gainslllossesl on investments 10 2,641,791 2,641,791 9,413,556 9,413,556 Net movement In fund$ 818.763 1348,4781 470,285 28,549,715 1122.322} 28,427,393 Fund balances al 1 January 2023 56,837,429 387,678 57,225,107 28,287,714 510,000 28,797,714 Fund balances at 31 Dècember 2023 57,656,192 39,200 57,695,392 56,837,429 387.678 57,225,107 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BALLINGER CHARITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets Investments 12 13 873 57,014,228 1,092 53,334,756 57,015,101 53,335,848 Current assets Debtors Cash at bank and in hand 14 14,949 684,223 515.983 3,458,679 699,172 3,974,662 Creditots- amounts falling due within one year 15 118,8811 185,4031 Net current assets 680,291 3,889,259 Total assets less current liabilities 57,695,392 57,225,1 Q7 Ineome funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 16 39,200 387,678 17 4,223,936 53,432,256 220,750 56.616,679 57,656,192 56,837,429 57,695,392 57,225,107
BALLINGER CHARITABLE TRUST BALANGE SHEET (GONTINUED) AS AT31 DECEMBER 2023 The company is eth"Ued lo the exempts'on from the audit reqUirent contained in section 477 of the Comp18$ Act 2ts)6, frjr the yr ended 31 December 2023. although en b¢¢n Gorried under secti¢)n 144 of thc Charits'e5 Act 2011. Tne trustees are reswnsiDie Tor ensuring tnat tne cn"ty keeps accounts.ng recoros lch comply wth section 386 of the Act and for prepariro accounts which give a tme and fair view of Ihe state of affairs of the company as at the end ol the financial year They arg also responsible for its incoming resource5 and application of resource5, including lis Income and expendiiure for the financial year in accordance witr) tne requifftments Of secuons 384 ana 395, and for complianc8 With th• requir•monts of th• Compani8$ Act 2(M)6 re18tir¢ tr) accolmts, so far as 8pplicablè. Tho mombérs not TlI1r0d th& cMipany tr> obtsin an gudit of its finanaal stateMS und8r th• r•ryiJir•nénts of the Compan*8s Act 20c, for tts ygar in question in aCran wth .9 476. Th¢s¢ financial statement5 hav& prepared in aGrdance with the provisions applicable to companieJ subj'eci lo the small companies retyme. The fina)cial StateMlts wore approved by tho Tn4Stees on ............ ............ MrA Balling Trustee Company r@olstratlan nUrnr 06428200 10-
BALLINGER CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from operatlng actlvltles Cash (absorbed byllgeneraled from operations 20 13,001,807) 18,356,391 Invg$tlng al¥ll1$ Purchase of investments Proceeds from disposal of investments Investment income reiVed 172,334,375) 71,2,694 1,264,832 139,394,849) 23.724,951 649,944 Net cash generated fromllus&d Inl investing activities 227,151 115,019,954) Not ¢a$h u$gd In flnan¢lng a1vItI&$ Net Idecreasellincrease in cash and cash equlvalents 12,774,456) 3,336,437 Cash and cash equivalents at beginning of year 3,458,679 122,242 Cash and cash equivalents at end of year 684,223 3,458,679
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Company information Ballinger Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Bede House, Belmont Business Park, DURHAM, DH1 1TW, United Kingdom. 1.1 Accounting convention The financial statements have been prepared in accordance with the charitable company's governing document. the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. l FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. The charitable company Is 8 Public Benefit Enlily as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charrtable company. Monetary amounts in these financial stslemenls are rounded to the nearest £. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwse slated in the relevant accounting policy notes. The principal accounting policies adopted are set out below. 1.2 Going concern Al the lime of approving the financial stslemenls, the Iruslees have a reasonable expectation that the Charitsble company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial slalements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial slalements. Designated funds comprise funds which have been sel aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts. 1.4 Income Income is recognised when the charitable company is legally enlilled lo il after any performance conditions have been mel, the amounts can be measured reliably, and (( is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as a conlingenl asset. 12-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl 1.5 Expendltu Liabilities are recognised as expendf(ure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, il is probable that selllemenl wll be required and the amount of the obligation can be measured reliably. Grants payable are payment5 made to third parties in the furtherance of the charitable objectives of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. Grant awards that are subject lo the recipient ftjlfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unftjlfilled conditions attaching to that grant are outside of the control of the Trust. A provision for a multi-year grant is recognised at ils present value where settlement is due over more than one year from the date of the award, there are no unfulfilled performance conditions under the control of the Trust that would permit the Trust to avoid making the future paymenllsl, settlement Is probable, and the effect of discounting is material. The discount rale used is the rate offered on government bonds Igiltsl for a commensurate or similar lime period offered in the year in which the grant award is made. 1.6 Tanglblg flx9d a$$gts Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, nel of depreciation and any Impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures, fittings & equipment 20% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the stslemenl of financial activities. 1.7 Fixed asset invastments Fixed asset investments are slated al market value as at the balance sheet dale. The statement of financial adivilies includes the nel gains and losses arising on valUation and disposals throughout the year. Disposals of investments are treated on a FIFO basis. Dividends are included in the in¢ome and expenditure a¢¢ounl when they are declared. Bank interest is induded in the income and expenditure a¢counl on a receivable basis. 1.8 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued al the amount prepaid after taking account of any trade discounts due. 1.9 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation res1ng from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing lor any trade discounts due. 13-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacies Restricted funds Unrestricted Restricted funds funds Total 2023 2022 2022 2022 Donations and gnls 240,000 19,699,999 200,000 19,899,999 Invostments Unrestrlcted Restrlcted funds funds Total Unrestrlcted Restrl¢ted funds funds Totsl 2023 2023 2023 2022 2022 2022 Income from listed investments Interest receivable 1,182,112 81,429 1,182,112 82.720 548,002 101,809 548,002 101,942 1.291 133 1,263,541 1,291 1,264,832 649,811 133 649,944 Other Income Unrestricted funds Total 2023 2022 GiftAid income 500,000 Raising funds 2023 2022 Investment management 126,293 137,142 126,293 137,142 14-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable activitie5 Total 2023 Total 2022 Stsff ¢osls Depreciation and impaimient Websrte Postage Event organisalion Travel Consultsncy Sundries Bank charges Phone Audit fees 21,767 219 5,219 396 14,380 79 23,000 1,260 130 561 12,000 18,593 273 970 378 8,000 370 24,000 1,954 13,062 595 12,000 79,011 80,195 Grants made lo institutions- Note 7 3,471,034 1,818,769 3,550,045 1,898,964 Analysis by fund Unrestricted funds Restricted funds 2,960,276 589,769 3,550,045 For the year ended 31 December 2022 Unrestricted funds Restricted funds 1,576,509 322,455 1,898,964 15-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payable Grants were made during the year to institutions, of which the following exceeded £20,000 per annum.. 2023 2022 700 Club A Way Out Activity Den Age Concern South Tyneside Age UK Gateshead Age UK North Tyneside AIM North East Allendale Youth Ambibon BCT Aspire CIC Berwick Youth Project Blyth Tall Ship Brandon Carrside Youth & Community Breckon Hill Community Enterprise Bright Futures NE Bullion Cornmunity Resource Centre Careis, Trust Changing Futures North East Gheesy Waffles Pioje¢t Chopwell Community Association Churches Together South Tyneside Coatham House Community Campus Goping with Gancei NE Corner House Youth Project Cowpen Quay ComrnunityAssociation Crarnlington Voluntary Youth Project Creative YoLrth Opportunities CIC D2 Youth Zone Denton Youth & Community Project Derwentside Detached Youth Dry VVaterArts CIC Durham Area Youth Durh8m Community Action Easington Lane Community Access Point East Cleveland Youth Housing Trust East Durharn Employability TIu5t Eastern Ravens Trust Edberts House EpicTeesside CIC Family Gateway First stop Dailington Fishburn Youth & Community Centre Footprints in the Cornmunity Gateshead Older Peoples Centre Halo Project 20,000 20,000 20,000 20,000 20,000 20,000 20,000 22,500 37,000 25,000 25,000 20,000 20,000 25,000 20,000 20,000 20,000 20,000 20,000 20,000 22,750 22,000 20,000 25,000 20,000 25,000 20,000 25,000 25,000 20,000 20,000 33,000 20,000 30,000 20,062 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 30,000 20,000 20,000 20,000 30,000 20,000 24,122 30,000 20,000 16-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payable Icontlnuedl Hartlepool Carers Heart Wood Integrating Children Key Community Ltd Key Fund Federation Kids Kabin Kidz Konnekt Kilmarnock Road children & Young People Family Resource Cenlie Kinship Linx Youth Project Meadow Well Connected Mind Active Newcastle Carers Newton Aycliffe Youth & Community North East Dementia Care North East Young Dads and Lads North Tyneside Carerfs Centre North Tyneside Disability Forum Northumbria Coalition Against Crime Pallion Action Group P8lchwork Project Pathways 4 All Pelton Community Association Projeds 4 Change Redcar & Cleveland Mind Redcar Development Trust Sacriston Youth Project Save the children Iwallsend Children's Community) Seahouses Development Trust Search Shotton P8rtneiship Silverline Memories Smile for Life St Chad's Community Project St Paul's Cornmunity Partnership STAMP Revisited Stanley Area Youth Consortium Streetwise Young People's Project Sundedand All Together Consortium Sunderfand Bangladesh International Centre Tees Esk & We31 Valley NHS Foundation TtU5t Tees Valley Wornen's Centre UTASS Wansbeck CVS Wheatley Hill Cornrnunity Association Wornen's Health in South Tynheside Woodhouse Close Church & Community Centre 20,000 25,000 25,000 20,000 20,000 25,219 20,000 20,000 20,000 25,000 20,000 20,000 20,000 25,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 22,000 20,000 20,000 20,000 30,000 100,000 20,000 34,000 27,940 20,000 20,000 20,000 20,000 20,000 30,000 25,000 180,000 20,000 20,000 20,000 20,000 35,456 30,000 20,000 20,000 20,000 50,000 95,000 27,167 17-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payable Icontlnuedl Woodshed Workshop CIC YMCA Northumberland Young Women's Outreach Project Total Grants made to institutions of less than £20,OiXI per annum 45,000 20,000 20,000 25,000 1,261,107 1,290,480 3,471,034 1,818,769 Tru$leg$ John Flynn received £23.00012022'. £24,000) from the charity in lieu of lost income for his lime spent on work for the ¢harity during the year, and was also reimbursed £79 for travel expenses incurred 12022 - £3701. The trustees believe this sum is a worthwhile cost due lo the value of expertise Mr Flynn provides to the charity. Employoas The average monthly number of employees during the year was.. 2023 Number 2022 Number Employment costs 2023 2022 Wages and salaries Other pension costs 21.302 465 18,225 368 21,767 18,593 There were no employees whose annual remuneration was more than £60,000. 10 Net gainslllossesl on investments Unrestricted Unrestricted funds funds 2023 2022 Revaluation of investments Gainlllossl on sale of investments 2,030,257 11,351,265) 611.534 10,764.821 2,641,791 9,413,556 18-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 11 Taxation The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxalionof Chargeable GainsAcl 1992 to the extent that these are applied to its charitsble objects. 12 Tangible fixed assets Flxturos, flttlngs & 8qulpmont Cost Al 1 January 2023 2,886 Al 31 December 2023 2,886 Depreciation and impaimient Al 1 January 2023 Depreaation charged in the year 1,794 219 Al 31 December 2023 2,013 Carrying amount Al 31 December 2023 873 Al 31 December 2022 1,092 19-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 13 Fixed asset investments Llsted Investments Cost or valuation At 1 January 2023 Additions Valuation changes Disposals 53,334,756 72,334,375 2,030,257 170,685,161) Al 31 December 2023 57,014,227 Carrylng amount At 31 December 2023 57,014,227 Al 31 December 2022 53,334,756 Fixed a55et investments revalued Listed investments are included at their market value as at the balance sheet date using the closing quoted market pri. The historic cost of the investments at the balance sheet date was £54,321,605 12022.. £52,361,7391. 14 Debtors 2023 2022 Amounts falling due within one year: Other debtors 14,949 515,983 15 Creditors- amounts falling due within one year 2023 2022 Other creditors Accruals and deferred income 67,000 18,403 18,881 18,881 85,403 -20-
uz £J CL
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 17 Designated funds The income funds of the charity include the following designated funds which have been sel aside out of unreslricled funds by the trustees for specAfic purposes". Movement in funds Balance at 1 Incoming Resources January resources expended 2023 Balance at 31 December 2023 4Louis 700 Club Away out Acoms Project Action for Station Town CIC Action on Dementia TheAclivily Den Advi at Hart cic Aeionauls Trampoline Club Age Conrn South Tyneside Age UK Gateshead Age UK North Tyneside AIM North East lendale Youth Ambition Islars Netball Apna Ghar Beaconhill Community Centre Bell View Berwick Youth Project Big League CIC Billon Hall Communty Trust Birtley Community Association Birtley East Well-Being Group Blyth Tall Ship Brandon Carrside Youth & Communty Breckon Hill Community Enterprise Bridge Creative CIC Bright Futures NE Bullion Community Resource Centre Burradon & Camperdown Comm Association Carers, Trust Catalyst stockton Changing Futures NE Cheesy Waffles Project Chopwell CommunilyAssocialion Chopwell CommunityAssociation (Youth Clubl Chopwell Regeneration Group Chrysalis Tynedale Churches Together South Tyneside Coalham House 1,000 40.000 60,000 45,000 1,598 30,000 30.000 30,000 1,000 60.000 60,000 60.000 60,000 37,500 1.000 30,000 750 11,0001 120,0001 120,0001 115,0001 11,5981 115,0001 110,0001 115,0001 11,0001 120,0001 120,0001 120,0001 120,0001 112,5001 11,0001 110,0001 17501 115,0001 120,0001 110,0001 110,0001 110,0001 11,0001 120,0001 115,0001 120,0001 115,5001 120,0001 120,0001 11,0001 120,0001 113,7001 120,0001 110,0001 12,7501 120,0001 115,0001 110,0001 122,0001 120,0001 20,000 40,000 30,000 15,000 20,000 15,000 40,000 40,000 40,000 40,000 25,000 20,000 15,000 60,000 10.000 20,000 20,000 1.000 60,000 30.000 60,000 15,500 60.000 40,000 1,000 60.000 13,700 40.000 30,000 2,750 60,000 40,000 10,000 10,000 40,000 15,000 40,000 40,000 20,000 40,000 20,000 20,000 40,000 15,000 10,000 30,000 20,000 30,000 20.000 52,000 40.000 -22-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 17 Deslgnated funds Icontlnuedl Community Campus 87 Community Stepping Stones CIC Consetl 1409 ATC Cadets Coping with Can¢er NE Corner House Youth Project Cowpen Quay Community Association CramlingtDn Voluntary Youth Project Creative Youth Opportunities CIC D2 Youth Zone Darlington Association on Disability Darlinglon CAP Denton Youth & CommLJnity Project DeneNts1de Detached Youth Dry Water Arts CIC Durham Area Youth Durham City Youth Projects Easinglon Lane Community A¢cess Point East Cleveland Youth Housing Trust East Durham Employability Trust East Durham Veterans Trust Eastern Ravens Trust Easllea Community Centre Edbert's House Epic Teesside CIC Farnily Fitness & Food CIC Family Gateway Fibri>Connect-TS CIC First Stop Darlington Fishbum Youth & Community Centre Foolprinls in the Community Future Regeneration of Grangelown Gateshead FC Foundation Gateshead Older People's Centre Gateway into the Community Grays Ladies Friendship Club Halo Project Hartlepool Athletics Hartlepool Big Town Tidy-up Hartlepool Carers Hartlepool Hawks Hartlepool Men's Shed Hartlepower Headland ABC Heart Wood Hetton New Dawn Hindu Nan Sangh Hope Church East Cleveland HOPS Healing Opportunities Houghlon le Spring ResidentsAssociation {Acumen Comml Huskies Basketball 75.000 20,000 5,000 40.000 75,000 60.000 75.000 30,000 60.000 30,000 30.000 40,000 38,000 60.000 60,000 2,554 60.000 40,000 135.000 20,000 40,000 20.000 60,000 60.000 500 40,000 1.000 60,000 40.000 20.000 3,200 5.600 60,000 1,000 1.000 40,000 1,000 500 60,000 1.000 1,000 20,000 1,000 45,000 30.000 1,000 30,000 30.000 125,0001 110,0001 15,0001 120,0001 125,0001 120,0001 125,0001 115,0001 120,0001 115,0001 115,0001 120,0001 123,0001 120,0001 120,0001 19,3041 120,0001 120,0001 135,0001 110,0001 120,0001 110,0001 120,0001 120,0001 15001 120,0001 11,0001 120,0001 120,0001 120,0001 13,2001 15,6001 120,0001 11,0001 11,0001 120,0001 11,0001 15001 120,0001 11,0001 11,0001 50,000 10,000 20.000 50,000 40,000 50.000 15,000 40,000 15,000 15,000 20,000 15,000 40,000 40,000 6,750 40.000 20,000 115,000 10,000 20,000 10,000 40,000 40,000 15,000 20,000 40,000 20,000 40,000 20,000 40,000 20,000 11,0001 115,0001 115,0001 11,0001 110,0001 115,0001 30,000 15,000 20,000 15,000 1,000 1.161 11,0001 11,1611 -23-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 17 Deslgnated funds Icontlnuedl Impact Family Services Integrating Children Jarrow Sea Cadets Key Community Ltd Key Fund Federation Kid's Kabin Kidz Konnekl Kilmarnock Road Children & Young People Family Resource Centre Kinship (previously ¢alled Grandparents Plus) Let's Pretend & Play Lilyannes CIC Linskill Centre Linx Youth Project Little Treasures Longbenlon Youth Project Macrae House Community Centre Manilla Cycling Martha & Mary Association Meadow Well Connected Men's Pie Club MHA Communities Teesside Mind & Sole CIC Mind Active My Time Social Hubs Natural Ability New Hope North East New Perspective Ivia HaepOwer) Newcasue Carers Newton Aycliffe Youth & Communty Nite Light CIC North East Autism Society North East Dementia Care North East Young Dads & Lads North Tyne Youth North Tyneside Carerfs Centre North Tyneside Disability Forum Northbourne Street Youth Initiative Northumberland Community Enterprise The Northumberland Log Bank Northumbria Coalition Against Crime Out of Sight Pallion Action Group Patchwork Project Pathways 4 All PeOn CommunityAsso¢iation People & Drugs Phoenix Detached Youth Project Post Partum Matters CIC Projects 4 Change Queen's Road Day Centre 45.000 45,000 1,500 60.000 40,000 45.219 60,000 115,0001 115,0001 11,5001 120,0001 120,0001 125,2191 120,0001 30,000 30,000 40.000 20,000 20,000 40,000 60,000 120,0001 120,0001 12,0001 115,0001 117,0001 125,0001 110,0001 116,4801 15,0001 17201 15,0001 120,0001 15,0001 113,6961 115,0001 120,0001 11,0001 115,0001 115,0001 11,0001 120,0001 115,0001 115,0001 110,0001 120,0001 120,0001 115,7801 120,0001 120,0001 112,0001 112,5001 11,0001 120,0001 112,5001 120,0001 120,0001 120,0001 112,0001 115,0001 115,0001 11,0001 120,0001 11,0001 40,000 20,000 2,000 30.000 34,000 75,000 20.000 32,960 10.000 720 5,000 60.000 5,000 13,696 30,000 60,000 1.000 30,000 30,000 1.000 40,000 30.000 30,000 10,000 40.000 60,000 15.780 60,000 60,000 36.000 25,000 1,000 60.000 37,500 40.000 60,000 60,000 12.000 45,000 30.000 1.000 60,000 1.000 15,000 17,000 50,000 10.000 16,480 5,000 40,000 15,000 40,000 15,000 15,000 20,000 15,000 15,000 20,000 40,000 40,000 40,000 24,000 12,500 40.000 25,000 20,000 40,000 40,000 30,000 15,000 40,000 -24-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 17 Deslgnated funds Icontlnuedl Rape Crisis Tyneside & Northumbedand Redcar & Cleveland Borough Counal Redcar & Cleveland Mind Redcar Development Trust Royal Voluntary Service Rubies Sacriston Youth Project Samaritans Darfington Sanctuary Rangers (via Hartlepowerl Seahouses Development Trust Search ShineyAdvice & Resource Project Shotton Partnership Silverline Memories Smile for Life SNAPS Social Club for the Blind Darlinglon South Hyllon Tansy Centre South Stanley Partnership Sported Foundation Sporting Chance Middlesbrough Springwell Community Hub Springwell Village Community Venue Sl Ann's Partnership St Anthony's Youth Education & Support Sl Chad's Community Project Sl Paul's Community Partnership STAMP Revisited Streetwise Young People's Project Sunderfand All Together Consortium Sunderfand Bangladesh Intemalional Centre Sundedand Samaritsns Teams Life Centre TEES CIO Teesdale Community Resour$ (Making Memories) Tees Esk & Wear Valley NHS Foundation Tees Valley Women's Centre Teesdale Day Clubs Teesside Dementia Link Services TEN North East (Groundwork) Timbadash CIC Upper Coquetdale Community Transport Upper Teesdale Agricultural Support Service Useful Vision VCA Sunderland Veterans in Crisis Wansbeck CVS Weardale Together CIC Wearside Women in Need West View Project 45.000 11,000 40,000 60.000 60,000 30.000 60.000 1,000 1.000 60,000 75.000 30,000 55,540 40.000 60,000 20,000 1.000 20,000 20.000 11,000 1,000 21.000 20,000 24.000 50.167 60,000 60.000 115,0001 111,0001 120,0001 120,0001 110,0001 115,0001 120,0001 11,0001 11,0001 120,0001 134,0001 115,0001 117,9401 120,0001 120,0001 110,0001 11,0001 110,0001 110,0001 111,0001 11,0001 111,0001 110,0001 112,0001 115,1871 120,0001 120,0001 120,0001 125,0001 {180,0001 120,0001 15,0001 112,0001 117,5001 30,000 20,000 40.000 50,000 15,000 40,000 40,000 41,000 15,000 37,600 20,000 40,000 10,000 10,000 10,000 10,000 10,000 12,000 35.000 40,000 40,000 20,000 75,000 50,000 360.000 40,000 5,000 12,000 17,500 540.000 60,000 10.000 24,000 35,000 4,000 40,396 60.000 30,000 30,000 15.000 10,000 45.000 60,000 30,000 10.000 30,000 1,948 20.000 14,0001 120,3961 120,0001 115,0001 115,0001 115,0001 15,0001 20,000 40,000 15,000 15,000 5,000 45,000 40,000 15,000 120,0001 115,0001 110,0001 115,0001 11,9481 110,0001 115,0001 115,0001 15,000 10,000 15,000 30.000 15,000 -25-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 17 Deslgnated funds Icontlnuedl healley Hill Community Association Whippet Up CIC Whitley Bay Young People's Centre Women's Health in South Tyneside Woodhouse Close Church & Community Centre Woodshed Workshop CIC Wooler Drop In Yarm Wellness YMCA Northumb&rfand YMCA Tees Valley Young Women's Outreach Project Youth Focus North East 20.000 30,000 10,000 60.000 60,000 65.000 20.000 10,000 60.000 27,712 60.000 45,000 120,0001 115,0001 110,0001 120,0001 120,0001 145,0001 110,0001 15,0001 120,0001 113,8561 120,0001 115,0001 15,000 40.000 40,000 20,000 10,000 5,000 40,000 13,856 40,000 30,000 220,750 6.951.451 12,948,265) 4,223,936 -26-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 17 Deslgnated funds Icontlnuedl General Our Designated funds total increased significantly in 2023. Up until December 2022, no mulli-year grants had been awarded by the Trustees since March 2020, and the final year of most of those last multi-year grants was distributed during 2022. However, in December 2022 the Trustees commenced awarding new multi-year grant awards, which carried on through 2023, such that our Designated Funds al year end 2023 increased lo £4,223,936 {2022.' £220,750). Sunderland All Together Consortium CIO ISATCI In 2015. local youth work organisations in Sunderland camè together lo develop a Collective approach on how lo overcome various challenges and best support the children and young people of Sunderland. The member organisalions developed their consortium into a charitable incorporated organisalion that's now equipped and prepared to build a sustainable future for youth work Servi$. The Sunderfand All Together Consortium ISATCI fomially registered as a charitable incorporated organisation in February 2019. The 7 current member organisalions are Bluewalch Youth Centre, Lambton Street Youth Centre, Oxclose & District Young Peoples Project, Sunderland North Community Business Centre, Soulhwck Neighbour- hood Youth Project, The Box Youth Project and Youth Almighty Youth Project. The Ballinger Charitable TrLJSt awarded a new 3 year grant of £180.000 per annLJm to the consortium in 2023 to,. support core costs of the 7 members, support the core costs of the consortium itself and to help the consortium engage with and support other youth providers in the city of Sunderfand. East Durham Employability Trust The Ballinger Charitable Trust commenced grant support of this registered charity in 2018. The East Durham Employability Trust was created to address the training and development needs of young people, whilst also addressing the issue of cyclical unemployment by creating a generation of young people who wll become positive role models for future generations. It operates as a subcontract manufacturing and warehousing resource centre business which allows il lo offer both training and practical real-life business and work experience for trainees with the possibility of direct job opportunities both within the organisalion and extemally with local employers. In 2023, The Ballinger Charitable Trust awarded a multi-year grant that would allow the charty lo increase its capacity lo support more young people through its structured training and development programmes. -27-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 18 Analysis of net assets between funds Unrestrlcted RestrlGted funds funds 2023 2023 Total UnreStrled Restrlcted funds funds 2022 2022 Totsl 2023 2022 Fund balances at 31 December 2023 are represented by.. Tangible assets Investments Current assets 873 57,014,228 641,091 873 1,092 57,014,228 53,334,756 680,291 3,501,581 1,092 53,334,756 3,889,259 39,200 387,678 57,656,192 39,200 57,695,392 56,837,429 387,678 57,225,107 -28-
BALLINGER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 19 Related party transactions During the year Mrs D Ballinger a trustee of The Ballinger Charitable Trust donated £Nil12022.' £19,700,000) lo the trust. Fees In the sum of £23,000 12022. £24,000) were paid lo Mr J Flynn a trustee of The Ballinger Charitable Trust. 20 Cash ggngrat9d from opgratlon$ 2023 2022 Surplus for the year 470,285 28,427,393 Adjustments for.. Investment income recognised in statement of financial aclivf(ies Gain on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets 11,264,832) 1649,9441 1611,5341 110,764.8211 12,030,257) 1,351,265 219 273 Movements in working capital.. Decreasellincreasel in debtors IDecreasellincrease in creditors 501,034 166,5221 179.0351 71,260 Cash (absorbed byllganarated from operations 13,001.6071 18,356,391 21 Analysls of changes In net funds The charitable company repaid all the incurred debt during the year. -29-