REGISTERED COMPANY NUMBER: 06848662 (England and Wales) REGISTERED CHARITY NUMBER: 1131478
BARRIE WELLS TRUST (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Scott & Wilkinson Dalton House 9 Dalton Square LANCASTER LA1 1WD
BARRIE WELLS TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 15 |
BARRIE WELLS TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees Ms P L J Rothwell Mr M J C Wells Mr B J Wells Ms J Wild Ms M J Fletcher Company secretary Mr M C Waterton Registered office F7-F9 1st Floor City Lab Dalton Square LANCASTER LA1 1PP Registered company number 06848662 (England and Wales) Registered charity number 1131478 Independent examiner Scott & Wilkinson Dalton House 9 Dalton Square LANCASTER LA1 1WD
Page 1
BARRIE WELLS TRUST (REGISTERED NUMBER: 06848662)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The Trust's main focus in the year ending 31st December 2022 was to increase the volume of executive box donations from 2021 to enable more beneficiaries to enjoy a Box4Kids event. Focus was also placed on adding additional value to events through meet and greets.
Objectives and activities Objectives and aims
The objectives of the Trust are, for the public benefit:
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To promote good health and healthy recreation through sport and education for the benefit of the public at large; and
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To promote and further the care, relief and convalescence of seriously ill, terminally ill and disabled children.
The objectives of the Trust reflect the charity's main focus, Box4Kids. The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Box4Kids is an initiative that enables seriously ill and physically disabled children and their families the opportunity to watch a sporting or entertainment event from the comfort and luxury of an executive box. Not only do these boxes provide them with VIP treatment, they are also a safe, secure space for both the child and loved one. The children are predominantly nominated by hospital and hospice staff throughout the UK.
The initiative was launched in 2010 when Barrie Wells first purchased an executive box at Liverpool Football Club solely for use by Box4Kids. The box is still used exclusively at every match for the benefit of seriously ill and disabled children.
Box4Kids now covers 12 different sports including football, rugby league, rugby union, Formula 1, tennis, athletics, ice hockey, hockey, cycling, basketball, horseracing and cricket. The initiative also offers events at many entertainment venues across the UK including O2 Arena, Wembley, Manchester Arena and the Royal Albert Hall to name a few.
Box4Kids is supported by organisations who donate the use of their executive boxes, whether it be just once a year or on several occasions. Since 2016 the Barrie Wells Trust has been the chosen charity partner of The Jockey Club.
The experiences provide a welcome break for children and their families, taking away the reminder of hospital appointments and creating memories that will last forever.
Box4Kids Policy
The scheme was established to benefit seriously ill and disabled children by enabling them to attend major sporting and entertainment events around the UK as a VIP in executive boxes. Policy guidelines were created when the scheme began and these guidelines continued to be followed throughout 2022.
With support from appropriate organisations to select deserving young people, Box4Kids continues to be open to children and young people aged 8-18 (aged 6-18 for entertainment and Jockey Club days) who are diagnosed with a physical illness, disease or disability that is serious or life limiting.
Young people who meet the criteria attend the event with one guest over the age of 18, or up to three guests for Jockey Club days or other events where more space is available.
Children are nominated to attend events by the Barrie Wells Trust's national network of hospitals, hospices, charities and disability groups or through the Trust's website.
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BARRIE WELLS TRUST (REGISTERED NUMBER: 06848662)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Achievement and performance Charitable activities
The Trust's focus for 2022 was to deliver a record-breaking year in terms of enabling the largest number of children and their families to enjoy a Box4Kids event to date, ensuring a high quality, memorable experience was delivered at each event.
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Since launch, 1,335 Box4Kids events have been held at 126 different venues.
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Since launch, 196 box holders have donated the use of an executive box.
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Since launch, a total of 13,720 guests comprising seriously ill and disabled children and their families, have enjoyed a VIP Box4Kids experience.
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During 2022, a total of 2,990 deserving guests benefitted.
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During 2022, a total of 323 Box4Kids events were arranged and delivered.
• During 2022, the Barrie Wells Trust encouraged a total of 79 hosts to help provide support at Box4Kids events across the UK.
• The Trust extended its hospital and hospice network across the UK by collaborating with other leading charities including The Family Fund. Additional nomination developments included expanding the nomination network with the inclusion of more disability community groups and individuals.
• In total, the Trust now works with 177 different hospitals, hospices, charities and disability groups who nominate seriously ill and disabled children to attend Box4Kids events.
• The Trust and The Jockey Club continued their special partnership, with 60 Jockey Club - Box4Kids Family Day experiences created in 2022. This has developed to also include Experience Days at Jockey Club venues. A total of 2,538 guests have been invited to a Jockey Club day out since 2016.
• Additional charity partnerships were established with regular events provided by The Ambassadeurs Group, Coventry City and the purchase of a box solely for the use of Box4Kids at Manchester City from an external donor.
• Farnborough Airshow returned to the events calendar in 2022, following the missed event in 2020 due to Covid-19. Over 100 guests enjoyed a VIP day out.
• The Barrie Wells Trust recorded their highest monthly amount of Box4Kids events in October 2022 with 45 events.
• Charity Patron, Katarina Johnson Thompson retained her Commonwealth Games gold medal at Birmingham, alongside Athlete Ambassador Keely Hodgkinson claiming the 800m silver medal at both the Commonwealth Games and the World Championships.
• Barrie Wells was awarded the Chairman's Award at the 2022 Sports Journalists Association Awards for his outstanding services to sport. He also featured in the Financial Times with an article titled 'Why Die Rich?'.
• Barrie Wells has started speaking across the UK and internationally to help promote philanthropy and encourage others to give back. His talks including presenting at universities across Singapore, New York, Lancaster and Edgehill.
Financial review Financial position
The Trust spent £410,931 (2021: £233,894) during the period against income of £474,773 (2021: £217,359).
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BARRIE WELLS TRUST (REGISTERED NUMBER: 06848662)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Financial review
Reserves policy
The Foundation has free reserves of £149,030 (2021: £85,430). It is the policy of the Foundation to maintain free reserves at a level equivalent to one month’s expenditure to cover administration costs. As the major donor is closely involved with the charity, it is not considered necessary to hold excess free reserves.
Material developments in 2022
There are two main areas to comment on:
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The Trust has undertaken a student consultancy project in conjunction with Lancaster University. The project involves working with a group of student consultants to help develop the Trust's external communication platforms.
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The Trust's offices had a refurbishment to accommodate the growth in staff and upgrade the working space.
Material Developments in 2023
The development focus for 2023 is to increase the total number of Box4Kids events whilst remaining at the same operational capacity of staff and infrastructure, thus supporting more beneficiaries across the UK. This will be achieved by a development strategy of continuing to maintain excellent relationships with all existing partners and box donors, whilst continuing to acquire new supporters.
Other developments will include developing the charity's website and social media strategy to help promote the messaging and work the Barrie Wells Trust continues to provide.
Structure, governance and management
Governing document
The Barrie Wells Trust ('the Trust') is a registered charity (number 1131478) and is also a private company limited by guarantee (number 6848662). The Trust's Governing Document is its Memorandum and Articles of Association dated 17th March 2009, as amended on 2nd September 2009 and 27th September 2010.
Recruitment and appointment of new trustees
The Trust's Articles provide that there shall be no fewer than two trustees at any time. No maximum number of trustees is specified. Trustees are selected carefully in order to bring a range of business knowledge and expertise to the Trust, and each trustee has received a comprehensive briefing on the purpose and aims of the Trust. New trustees will be appointed by the existing trustees. The trustees meet as necessary in order to review the strategy of the Trust and to oversee the Trust's financial position.
Trustees are required to disclose all relevant interests and register them with the Trust's Company Secretary and, in accordance with the Trust's policy, to withdraw from decisions where a conflict of interest arises.
Trustee remuneration
Two of the trustees were employed and remunerated by the Foundation during 2022, following receipt of approval from the Charity Commission.
Risk management
The trustees keep the major risks to which the Trust is exposed under regular review.
Approved by order of the board of trustees on 25 July 2023 and signed on its behalf by:
Mr B J Wells - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARRIE WELLS TRUST
Independent examiner's report to the trustees of Barrie Wells Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S W Hinnigan FCA CTA
Scott & Wilkinson Dalton House 9 Dalton Square LANCASTER LA1 1WD
31 July 2023
Page 5
BARRIE WELLS TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022
| 2022 Unrestricted fund Notes £ Income and endowments from Donations and legacies 2 474,773 Other income 3 - Total 474,773 Expenditure on Charitable activities 4 Box 4 Kids 410,880 Athlete sponsorship 51 Total 410,931 NET INCOME/(EXPENDITURE) 63,842 Reconciliation of funds Total funds brought forward 92,477 Total funds carried forward 156,319 |
2021 Total funds £ 213,061 4,298 217,359 227,117 6,777 233,894 (16,535) 109,012 92,477 |
|---|---|
The notes form part of these financial statements
Page 6
BARRIE WELLS TRUST (REGISTERED NUMBER: 06848662)
BALANCE SHEET 31 DECEMBER 2022
| 2022 Unrestricted fund Notes £ Fixed assets Tangible assets 12 7,289 Current assets Debtors 13 85,915 Cash at bank and in hand 70,810 156,725 Creditors Amounts falling due within one year 14 (7,695) Net current assets 149,030 Total assets less current liabilities 156,319 NET ASSETS 156,319 Funds 15 Unrestricted funds 156,319 Total funds 156,319 |
2021 Total funds £ 7,047 71,927 41,548 113,475 (28,045) 85,430 92,477 92,477 92,477 92,477 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 25 July 2023 and were signed on its behalf by:
Mr B J Wells - Trustee
The notes form part of these financial statements
Page 7
BARRIE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Barrie Wells Trust is a private company limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% Reducing balance Computer equipment - Straight line over 3 years
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Page 8
BARRIE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Going concern
The trustees have assessed that the use of going concern is appropriate and that there are no material uncertainties related to events or conditions that cast significant doubt on the ability of the Chanty to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
2. Donations and legacies
3.
| Donations Other income Government grants |
2022 £ 474,773 2022 £ - |
2021 £ 213,061 |
|---|---|---|
| 2021 £ 4,298 |
4. Charitable activities costs
| Box 4 Kids Athlete sponsorship Grants payable Athlete sponsorship |
Direct Costs £ 324,983 - 324,983 |
Grant funding of activities (see note 5) £ - 51 51 |
Support costs (see note 6) £ 85,897 - 85,897 2022 £ 51 |
Totals £ 410,880 51 |
|---|---|---|---|---|
| 410,931 | ||||
| 2021 £ 6,777 |
5. Grants payable
Athlete sponsorship
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BARRIE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
6. Support costs
| Support costs | |||
|---|---|---|---|
| Governance | |||
| Management | costs | Totals | |
| £ | £ | £ | |
| Box 4 Kids | 61,501 | 24,396 | 85,897 |
| Support costs, included in the above, are as follows: | |||
| Management |
| Support costs | Support costs | |
|---|---|---|
| Governance Management costs £ £ Box 4 Kids 61,501 24,396 Support costs, included in the above, are as follows: Management |
Totals £ 85,897 |
|
| Wages Social security Pensions Rates and water Telephone Postage and stationery Advertising Service charge Computer costs Travel and subsistence Governance costs Wages Social security Pensions Insurance Telephone Accountancy fees Legal fees Premises costs Computer costs Payroll fees Bookkeeping fees Bank charges Sundry expenses Depreciation of tangible fixed assets |
2022 2021 Box 4 Total Kids activities £ £ 20,980 22,201 1,078 1,855 505 505 565 809 1,181 866 9,220 4,593 6,721 3,887 14,418 13,617 4,765 3,497 2,068 2,834 61,501 54,664 2022 2021 Box 4 Total Kids activities £ £ 2,441 3,918 190 327 89 89 494 420 131 153 4,208 3,356 1,439 3,726 1,602 2,403 529 617 1,072 1,029 1,160 1,108 123 135 6,824 3,603 4,094 3,329 24,396 24,213 |
|
| 24,213 |
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BARRIE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
7. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 4,094 | 3,329 |
8. Trustees' remuneration and benefits
Ms P L J Rothwell received remuneration of £12,000 (2021: £12,000). Approval was given in 2011 by the Charity Commission for Ms Rothwell's remuneration.
Mr M J C Wells received remuneration of £28,817.65 (2021: £8,080). Approval was given in 2021 by the Charity Commission for Mr Wells' remuneration.
Trustees' expenses
During the year the charity reimbursed expenses of £2,875 to Mr B J Wells (2021: £3,300).
The trustees do incur expenses for hosting events but have elected to pay these themselves so they are not formally recorded as expenses of the charity.
9. Staff costs
| Wages and salaries Social security costs Other pension costs |
2022 £ 172,724 8,457 3,772 184,953 |
2021 £ 117,949 3,996 2,544 |
|---|---|---|
| 124,489 |
The average monthly number of employees during the year was as follows:
| Charitable activities Governance Trustees remunerated |
2022 6 1 2 9 |
2021 5 1 2 |
|---|---|---|
| 8 |
No employees received emoluments in excess of £60,000.
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BARRIE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 10. | Comparatives for the statement of financial activities | |
|---|---|---|
| Unrestricted | ||
| fund | ||
| £ | ||
| Income and endowments from | ||
| Donations and legacies | 213,061 | |
| Other income | 4,298 | |
| Total | 217,359 | |
| Expenditure on | ||
| Charitable activities | ||
| Box 4 Kids | 227,117 | |
| Athlete sponsorship | 6,777 | |
| Total | 233,894 | |
| NET INCOME/(EXPENDITURE) | (16,535) | |
| Reconciliation of funds | ||
| Total funds brought forward | 109,012 | |
| Total funds carried forward | 92,477 |
11. Independent examiner's remuneration
The independent examiner's remuneration includes independent examination fee and other accountancy services in the sum of £3,463 (2021: £3,356).
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BARRIE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 12. Tangible fixed assets Fixtures and Computer fittings equipment £ £ Cost At 1 January 2022 12,502 48,022 Additions 3,027 1,309 At 31 December 2022 15,529 49,331 Depreciation At 1 January 2022 9,101 44,376 Charge for year 966 3,128 At 31 December 2022 10,067 47,504 Net book value At 31 December 2022 5,462 1,827 At 31 December 2021 3,401 3,646 13. Debtors: amounts falling due within one year 2022 £ Other debtors 971 Prepayments and accrued income 84,944 85,915 14. Creditors: amounts falling due within one year 2022 £ Social security and other taxes - Other creditors 4,660 Accrued expenses 3,035 7,695 |
Totals £ 60,524 4,336 |
|---|---|
| 64,860 | |
| 53,477 4,094 |
|
| 57,571 | |
| 7,289 | |
| 7,047 | |
| 2021 £ 250 71,677 |
|
| 71,927 | |
| 2021 £ 2,267 1,259 24,519 |
|
| 28,045 |
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BARRIE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
15. Movement in funds
| At 1/1/22 £ Unrestricted funds General fund 92,477 TOTAL FUNDS 92,477 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 474,773 TOTAL FUNDS 474,773 Comparatives for movement in funds At 1/1/21 £ Unrestricted funds General fund 109,012 TOTAL FUNDS 109,012 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 217,359 TOTAL FUNDS 217,359 |
Net movement At in funds 31/12/22 £ £ 63,842 156,319 63,842 156,319 Resources Movement expended in funds £ £ (410,931) 63,842 (410,931) 63,842 Net movement At in funds 31/12/21 £ £ (16,535) 92,477 (16,535) 92,477 Resources Movement expended in funds £ £ (233,894) (16,535) (233,894) (16,535) |
|---|---|
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BARRIE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
16. Related party disclosures
During the year the charity made the following related party transactions:
Donations made by Mr B J Wells without any conditions attached totalled £229,100 for the year (2021: £118,000).
At the balance sheet date the amount due to Mr B J Wells was £nil (2021: £nil).
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