pany regi51ralion nurriber 7432518 ChaAty reglstrallon number 1142950 The Barracks Trust Limited (A company limitsd by guarantsèl Annual Report.and Financial Statements For the Y&ir Endad 31 March 2021 Daryl Denson ACMA VAST The Dudson Centre Hope Streel Stok&on-Trenl ST15DD
The Barracks Trust Limited Contents Reference and Adminislratnie DetAils Truste88 Report l inworaling thè Dir8ctorfs Yert) 2to7 Independent ExamineT'S Report Statemenl of Fin8n¢ial Activities 88lanee Sheet 10 Notss.to the FinanrAal Statements 11to21
The Barracks Trust LSmlted Reference and Administrative Detai15 Chair Anthony Green Trustees Anthony Green, Chalr Peter D8ws. Treasurer" 0 Illey Carol Reddish Reno Cartisle Davlcl. Riley Secrotary Charlty Registration Number 1142950 Company Reglstratlon Number 7432518 The tharily is inccryraled In England.. F8lrcroft Mount Pleasant Newca511e underLymè ST51DP Rggi6tered Offlce Independent Examiner Da Denson ACMA VAST The tjudson C8ntre Hope Street Stcske-on-Trent ST15DD Bankws Bardays Bank Business Direct Support Cèntral Octagon House Gadbrook Park NDrthwich Cheshlre SW9 7RB
The BarraGks Trust Llmited Trustee8 Report ( Incorporatlng the Director's report) Thé trustees, who ara dlreolors for thé purposes. of eompany law, present Ihe annual report eo9eth&r wSth the flnanclal slatom9nls of th8 charit8ble company for the ye8r ended 31 March 2021. Oblectlves and actlvlties "Oblects and 81ms The Tnjst aims to.. Ensure the consgrvallon of the Barracks for ptesent and fijture gener8tions', and SL¢PPOrt local communi1195 through grant-aldlno local voluntary and communlty. grcups. It inter$ to meet these aims through meeting the following oblectlw.. • Dwolopmgnl of a fundraising strategy lo meet building refvrbishment costs; Ensuring that gTant 1$ avaIlab lo individuals and .small organisations for the benefit of the residents of Newcasle-under-Ly.me and surroundlftg arga.. . Ensuring that the org8nssation'$ govemance and administration are fil for wrposo; axlmising the usage potenli81 of the building for income generation- Establishing a prop¢ty that mplIeS with all legal, p18nning and geral tHAikling legis]alion', • Improving the historic profi18 and IeaSe publfc aw8r8ness of the Barrocks as a Herftage Site. Public benefit The Irustee5 have kept lft their duly to ensure that the r&sources of The Barracks Twst 8r8 Used for publ1¢ bonefft. Thls hag b88n realised by th8 Trust in.. . Providing grants.to tocal charitabie organisation6' Providing grants to individuats., . Main12ining and improving the Barracks, 8 $i9nificant hgritagg assel in thè town centre. The trustees(onfirm that Ihey have complled th th8 requiremenls of sectlon 17 of th? Charities Act 2DI 1 to have du6 Trgard to the publK benefft guKfanGe publlshed by the Charfty Commisslon for Engnd andwales. Grant making policies Be¢au$e of the orpgolng an(F anticipated refurbi8hment c¢xls Ihg Trust only dlslrlbuted £3.615 Sn (*)arilable gran18 which is sllghlly Fow than 20201 £4,187}- One of the major problems with grant giving Is findlng good caus88 to supporl. The Trust has devekped an infomal partnershlp with Newcastle Rotary Club whereby the Iwo parties work together L) prowde joint funrling tor certain prtiiects e.g... provisÉon ol PPE for local Nursiny Homes. Page 2
The Barracks Trust Llmited Trustees Report { Incorporating the Director's report) Financial review During this financial year the TNSI ha8 undertaken general maintenance and repairs al a cosl of £10.683, Ihis in¢lude5 scaffolding costs of £2,524. ThSs 18 substyantialty lower than 2020 (£23,203) which Is partly due to the much-improv8d slate of the. buildlng. DuAng Ihls pellod there ii16re no sEonlfKxnl refurbl$hment costs. Most of the repair aosls. werg 85soclatsd with roof repalrs anrj the resolution of damp1s8U8$. In tha report endlng 31 March 2020 it was noted that a fvrther £20,000 was to be resorved for ttie. Phase I window rgpairlréplacèrhent project whlch wss due lo be, anj was, completed successfully by. the end of May 2020. The Trust are incr8dSbly pleased with the replacement windows and thank L. Jones (Joinery) Limiled for the quality of the wtndows and Instsllab"on. Iri addilkjh, a fvrther £60,000 wli I be reserved for Phasè11 of thé ongoing ndOW repairlreplacement project which Is planned lo be completed by January 2022, Phasé V ¥i¢l focus on 1hé replacement of windows in tha front 91avallon of the bullding. The Trust has managed its"finances w1 and adheted to its reBerves wllcy Policy on resérves The Trust curronlty hold unr8slrlctsiJ free reserves of £119,518. £18.000 is lo cover. ' polgntial rent arrears., . tenants leamng and unrts beir#J left v8cant unat4e lo rent uut., the n8ed lo leave unlts untenanted to ensure build2n9 Wort may ba orrfed out 88fvly and el[lentlY.. ' any unplanned emergency repairs. TheTe Is £101.518 In the degnal•j fvnd towards tha window relaC&mOn prolecl pha8e 11 (Front EIBvationl and the raplacernent of the gultering. The reslrfrted funds currenlty show a delicit of £8,999. we are we4Ung on a final paymeni from National Lollery Heritage FurKI for £9,760. This wll be paKI al Ihe end of the project In April 2022. InlMent pollcyand obje¢tNes The truslaes are aulhoiised by the Memorandum of Assoclalion to.deposil or invest fund8. employ professional lund mangggr and arrange for Ihe Investments or other propgrty of tho Charity lo b8 held In the name of a nomire.
Tho Barracks Trust Limit•d Trustees Report { Incorporatlng the Dlrectotrs report) Achievèments and performance The trustees continu8 to carry out the vast majority of the worka880dat8d wltt) the Tru8t.' Buslness Planning The truste8s r8newed Ihelr aGtion plan in April 2075, the following obl1@S were adoplèd: 1. To conseNe and preserve the buikling for fulure generations. in keeping vjlth plans lo Smprove the 2.. To ansure that the unlts are of suffiuenl standard for letting,, 3. To allract thè righl mix of tenants in keeplng with the ambience of the BaThocks and its purpose- 4. To maximise the surplus for charfty dislrSbullon glven tho o)nstralnls on the mlx of tenants desired- 5. To prornote the hislory of the lyjikling., 6. To ensure that the Drganisation's 9overnanco and administrab'on are *t for purpose- 7. fo ensure thal grant aid ts avallable to individuals and smal organisatBJn5 for the ben&fit of tha residents of Nwcaslle-vnder-Lme and surtr)unding area. These have been used to drive all actiuity this year.
The Barracks Trust Limited Trustees Report ( IncorpDratlng the Dlrectorfs report) The 8ullding and Lettlng8 During this period the Trust has fccus8d on developlng a slralegiG main1enanGe arKI ¢evelopmenl plan to safeguard the longBvity of the building. Thls covers gerBral maintenan, window replaeemenL unit furb15hM8nI and the courtyard development General Maintenance During Ihis peiictl the general maintsnanc8 programme has continued with the Trust fo'cusing on any roof or damp issues. A recent. roof survey shows th8 roof to be in sound condition and any iising d8mp issues ore PTomptly resolved and are well managed by a building conlr2Ctor wilh a proven quallty service r8cortl. The annual co of roof. repairs and resolutiort of damp Issues was £6,.827 ' includlng scaffoldlng cosfsof £2.524'. Unit Refurbishment Th"èr6 were no significant refurbSsh"ment project8 during this financial perlod. Window Reacement A major concern for the Trust is the current stale of the" WI0$. Following the Trust's award of £99,000 from the National Lottery Heritage Fund in 2018 8 ¢SICrablE amoLJnt of work has been undertaken lo ropla¢e all of windows In the courtyard. The tota cosl durlng thls period has been £24,815 which includgs Piojecl Management f88s, Heallh and Safety consultation foe8 and scaffolding costs lotalling £6,929 being malch funded by the Tw5t", labrication and installa1n costs incurr8d for thè windows Df £17,677, Project Officer £2,755 and Dth&r professional faas to inctude the RemIniscen ole¢l of £1,750. Total costs in the previous finarchl yoor endlng 31 March 2020 were £90,6TT whlch Included £14.000 match fundlng. The remaining restricletl monies will fund v8fTOU$ events to promote the historical aspects of the bullding. This includes the eslablishmenl of a research team, creatng a lantem parade, ramle ptn making. pmS 8boul the B8rrad<5. The Trust has now lfiillated Phase 11 of thé prolact whl¢h cowrs Ihe replacement of th8 ground fioor windows on thg front elevation. A proiecl budget of £6D,O(M) has teen established, a project manag6r" and Hth and Safely con5uMant appointed. Quotes have been r6ceivgd and a manufacturer has begn th0sgn.11 is planned that thg wndows will b8 installed by January 2022. P8g8 5
The Barracks Trust Llmlted Trustees Report { incorporating the Directorfs report} PrDperty Management and Tonandes Despita tgnanls leaving durfng Ihis perfod there ha8 not been a problem in finding suitable replacements. The town centre locafjon, havSng a car parking ¥ace and the character of the buikling ensure that Iheie are people keen to tska up each vacant unil. The only lime that units remain empty i8 when they are awaiting refurtjishmenl and whlEsl the work Is b8lng carrSed out. The Trust has provSdÈd an award lo supwrt the Open A'rt Exhibitron for the Borough of Newcastle each ye8r since 2014 and is committed lo conlinufj this practice In the fttlurè. The Trust 8180 promded an gward to the Newcastle Music Festival in 2017 aTh 2019 of £250 and has rscenlly agreed lo support the f8sllval in 2022. The Trust is committed in supportiffj the Arts, in 115 widest conl@xt wilhln Ihe BorDugh. Thls has enabled the tnjslees to become more Invoed with local networks and lo recognise Ioc31 excellence. Structurq govemaficè and management Naturg of govemlnu document The organisation is a charitable company limll8d by guarantee. Incorp)raled on 8 NovembÈr 2010 and regbstered as a charity on 19 July 2Q11.The company Wds ¢Stablished undei g Memorandum of Asso¢lation. It is not 8 mambership charity. This charitabl8 MpanY rac6iv9d the assets of. the pre-exi5bng unincorporated association, the Barracks Trust (registered charity numbgr 217919) on 1 Aprll 2012. Incorporation was sought to protect the trustees ol the charity and also to facilita18 the development of the organIsaOn by.. for 9xample, taking oWnehIp of other properties. The Barracks a grade 2 lisled building In the centre of Newcath.under-Lyme. The building has 19 separate units which are r&nled out to k)Gal organlsallohs. The hcome 18 used to maintain and imprctve the building and the surplus ts disliibu18d to local ccffimunlty and vnluntary groups and indlvlduals In need Ihrou9h a granl-giving process. The Trust pays fot th8 se1CeS of a markaglng agenL to oversee the management of property. During Ihis perK)d the Trust ¢hanged managlng agent from Butters John Bee IBJBI to Low8.and Elliott. 11 was felt that follcwing a Ghange ot ownership of WB and an associated resliucluring that Lowe and Elliott would b& a be118r rrt to support th& requltgments of1he Trust. Tbe Trust also pays for admlnislralive yjpport. The financial recording is carried out by a volunte8r accountant who works dosely th the Tnjst's treasurer. Page 6
The Barracks Trust Limlted Trustees Report ( incorporating the Directorfs report) Recruitment and appointment of trustegs The serving trustees elect the trustees. Important non4dJusting event5 aftor th& financial pgrlod The COVID pandemic wnlinues lo present the Trust with a number of ch811gnges. Tenanls-l believe the Trust has worked with all the tenants in 2 reasonable and compassionate way. This working together has contributed towards the successful survival of our tgnant base. The Trust has given financial support in the form of deferred rental payments. made contributions to th8 repair of services within the units which are not normally a Landlord responsibility. Trust Projects - The Trust received a grant of £97,600 from the National Lottery Heritsge Fund towards the cost of repla¢ing 43 windows. £48,80LI was received in 2019 and a further instalmenl of £39,040 in 2020. The last instalmenl of £9,760 will be paid in 2022. Despite the pandemic and lock down all of the specified windows were ¥eplaced. One element ol the project that was severely impacted was the historical development programme. The programme included a number of discrete events and activities such as the formation of a research team lo invesligalè th& social history of the Barracks, historical walks, a drama group lo create a mini-Barracks play, publication of a Barracks history booklet., all these events have been postponed becaLJse of the pandemic. Grant Gimng - The Trust's grant giving activities have been curtailed during this pericxj. Small companies provision statement This report has been prepared in accordan with the small companies regime under the Companies Act 2006. The annual report Was approved by the trustees of the charity on behalf by.. and signed on ils Anthony Green Chairman and trustee P8ge 7
The Barracks Trusl Llmited Independent Examlnefs Report to the trustees of The Barracks Trust Llmited ("the Company") I report lo th8 charity FJuslees on my Bxamlnalh)n of Ih'e a(counls of Iho Company for the year ended 31 MarGh 2021. Re$ponsibillties and basis of report As the charity's truste¢s Df fhe Company (and also ils dire¢tors lor Ihe'purposes Df company law) you a responsible for the preparation of th& ac¢ounls in accordance w&th the requirements of the Companies Act 2D061'the2006 Aty). Havlng sallsfied mysdf thal the acc4Jun15 of The Barck$ TrnstLimited are not required to be audited under Part 16 of Ihe 2006 Act 8nd are eligible for independenl examination. I report In re8pect of my examInal)n of your charity's accounts as carrled out un(Jer seclK)n 145 of the Charltles Act 2011 {'th6 2011 Act'l. In catrying out my examination I hav& followed th9 Dlrèctions given by the Charlty Commission under section 145ISllbl of the 2011 Act. IndopÈnd•nt Èxamlngrfs statement I havg Gomplgled my examlnallon. I confimi that no maller8 have come to.my attenlk)n In conn8Ctlon with the 8xamination glvlng me cause to belleve: l. accounting record8 were not kept in respect of The Barracks frust Limited as reqLtlred by sectton 386 of th8 2006 ACL or 2. the 8ccounls do not accord with those records.. or 3. the accounts do not Gomply with tho arcounling requireménts of secuon 396 of the.2006 Act other than any requirement Ihal the accounts give a frue and fair vwil whh 15 not a matter considered as part of an independent exBmination', or 4. the accounts have not be8n prepar8d in aBcordanc8 wllh tha methods and princ4ple5 of th8 statement of Recommended Piaclice for accounting and porting by charities lapplicable lo chaTibe5 prepamg the(r accounts in aCdanCe wlh Ihe Financial Repjrting Standard applicable in thè UK and Rèpublic of Ireland IFRS 10211. I have no wncems and have come across no other matt8rs.in OnneCtIon with the gxaminalion to which attention should be drawn in this report in 01 lo enable a proper understanding of the accounts lo be reached. Dar5d Denson ACThAA VAST The Dudson Gentr¢ Hop8 Street stoK9-on-frenl ST1 5DD 211.121.2.Q2.J.. Page 8
The Barracks Trust Llrnlted Statement of Financial Activities for tho Year Ended 31 March 2021 {Includlng Income and Expenditure Account and Statement of Total Recognlsed Gains and Lossés) Unrestricted fiirsds Restricted fijnds Totsl 2021 Note Income and Endowments from: Other trading activities Tol81 Income 64.787 Expenditure on: Raising funds Charilable activsbes 134,138) (4.410) (17,886) (52,0241 4,410 Total exp9ndiluro Net inèomellexpendilurel Nal movement in funds 38,S48 56,434) 26,239 117.886 8,353 26,239 117.886) Reconclllatlon of funds Total funds brought foNtard Totsl funds carried forward 643,279 669,518 Unrestricled funds 652,166 16 {8,9991 Restricted runds 660,519 Totsl 2020 Not• Income and Endowments from: Donations and legacies Olher trading aollvlt 40.542 64.554 TolBI Income 64,554 40.542 105.096 Expenditure on: Raising funds Gharitsbfe actlvltles 168,2031 (5,3431 73,546 1148.0431 5.343 Total expendttura Nel expendlture 79.840 1153,386) (48,2901 (48.290) 8,9921 139,298 Net movement in funds. Reconclllatlon of funds 16,9921 139,298} Total funds brought foThvard Totsl lun(ts carrled foFW8rd 652,271 48,185 8,887 700,456 652,166 16 643,279 All of the charlty'8 a¢liwlie5 derhe from conllnuing operations during the a)ove Iwo pgrrods. The nolos ¢)n pages 1110 21 form an integr91 part of these financtal statements. Page 9
The Barracks Trust Llmifed (Registration number: 7432518) Balance Sheet as at 31 March 2021 2021 2020 Note Flxed asset9 Tanglble assets. 12 550,000 550,ODO Current assets Deblois Cash at bank and In.han(J 13 14 7,985 103,034 6.785 111,019 5001 102,566 Creditors-'Anvounts falling due within ono yoar 15 Net current assets 110,519 102.1fj6 Natassots 660.519 652.166 Funds Of the charlty: Restricted income funds Restrlcled funcfs 18 18,999). 8,887 Unrestrictod incomè tunds Unrestricted fund5 669.518 660519 643.279 Total lunds 16 652,166 For the firYan¢ial year endlng 31 March 2021 the charlly was enfjlled to exempb'on from audit undor seclh)n 477 of the Companie5 Act 2006 relating 10 small companies. DiTedors' responsibiliti8s'. The member8 have nof tEqulred the ch*lty to obtaln an au(Jtt of Ils ac¢ounts for Ihe year'"In quostion In a¢(x)rdance wlth section 476,. and The directors acknowledge their re5ponsibllllies for compjyng wtth Ift requlrements of the Act spect to accounting recy)rds and the preparation of accounts. Th8 financial slalamenls on pages g to 21 wera appmved by thé trustaes, and authorised for issu& on -8LI41 LILL.. and signed on thelr behalf by. Trustee The rK)tes on pages 11.10 2.1 form an integral part Df those financial 5tstemènts. Page 10
The Barracks Trust Llmlted Notes to the Flnancial Statements for the Year Ended 31 March 2021 1 Charity stat5 The charity is limited by guarantee.. incorporated in England, and cnSeqUenY does not have share capital. Each of Ihe trustees Is liable to contiib(rte an amount not.exceedlng £10 towards the assets of Ihe charlly In the ovonl of Ilquidaiion. 2 AGcounling pollcles Summary of significant accounting poli¢ies and kBy accounling estimates The principal accounting policie5 applied in the preparation of thesè financial statemènts are sel out below. These wlicies have been consist9ntly applied b all the years presented, unless olheN5Q Stated. Statement of compliance The finan¢ial st8lemenls have been prepar&d in ardance wilh Accounting and Reporting by Charftles.. Statement of Recommended Praclice applicable lo charities preparing their accounts in accordance wlth the Hnan¢ial Reporting.Standard applicable in thè UK and Republic ot Ireland {FRS 1021 leffeclive 1 January 20191 {charle8 SORP IFRS 1021). the Finanoiol Reportlng Standard applicable in the UK and Rg"public of Ireland IFRS 102}. They also comply with the Companies Act 2006 and Charities Act 2011. Basls of preparation The Barracks Trust Llmlted mèets the definOn of 8 publlc benefit entity under FRS 102. Assets and liabilities are initially recognised at luslorieAI cost or transaction value unless othe1$8 slated In th@ rel$vant a¢counling PDlicy notes. Going concern Tha Irustges considgr thal ther.e arg no matsdal uncertalnlles about thg charitys abllty to conllnue'as" a going con¢grn nor any signilicant areas of uncertainty that affert th6 oarrying valu8 of assets held by the charity. InLome and 9ndowments Voluntary Incomg Indudlng donations. giftg. lauaeA&s 8rKI grants that provide o)re fundlng or are Df 8 gengral nature is recognised when the Charity has enlillempnt to the Income, It Is probable that the income will be received and the amount can be measured with Suffict lIabIlIty. Grants receivable Grants are reccyJnlsed when the charlty.has an enllllement to th2 funds and any condilions linkod lo the grants have bgen meL Where perfom)anc8 cOndIOn9 are a*hed to the grant and are yet lo be met, thg income is re¢ognsied as a liability and included on the baltte Shtr as defatrad income fo bè released. Page11
The Barracks Trust Limlted Notes to the Flnancial Statements for the Year Ended 31 March 2021 Expendlture All expendllure Is iec()gnised once there is a lègal or constructiv& obligab'on lo that expenditure, it is probable settlemeni is required and the amount can be measured retiably. All costs are allocated to the appli(xble expenditure headlng that aggregate similar costs to thal category. Where costs cannot be dlreclly attrlbuted lo particular headlngs they have been allocated on a basi5 consistent with the U8e of resources, wrth centr81 staff C4Ydls allocated on the basis of lime spent, and depreciation charg&s aflocat on th8 portSon of the 8sseYs use. Other support cos18 are allocaled based on the spread of stsff cost8. R8isin9 fvnds These are COBts Incurred IA atracllng voluntsty income, th'e rnanagemenl of investments and those. incurrèd In trading activities that ral88 funds. Charit&l)le actiyities. Charitable expenditure comprfses those costs Incurrod by the GharSty In the dellvgry of Ils advlUes and services for its beneficiaries. 11 includes both costs that can.bp allocaled.direclly to such a1vIlle& and those rosts of an indirect nature necessary lo support them. .Grantprovlslons Piomsrons for grants are made when the intention lo mak8 a grant.has been communicated to the reclplenl butthere 58 uncertainty about etther the timin9 of the 9fdnt or the amount of grant payable. Governance costs These include the costs attrtbulable lo the charit5 Complia with consliluttonal and slalutory requirements, induding audit, strategic management and tnjstees's meetings arKI reimbursed expenses. Govèrnment grants Government grants are recognised based on the accrual m(yJel and are measured al Ihe *wr value of the 8SSèt received or recewable. Grants are classified as latIng either to revenue or lo as5els. Grants relaling lo venue are recognised in income over the period In which the related costs ?re recognlsed. Grants relallng lo a8sets are tEcognlsed over the expected usefvjl IKe of the asset. Where part of a grant r8lallng lo an a8S&t f8'defarred, il Is recogniséd as dgferred Income. Taxatlon The tharily is considered to pass the t8sts set out in Paragraph i Schedule 6 of the Fihance ArA 2010 and therefore it meets the definib'on of a charitable company for UK corptsraiion lax purposes. Accordingty, the charity is WtentIlY exempt Irom laxatKJn In 'r88p8c1.of income or capital 9ains recetved within ¢alegcAies covered by Chapter 3 Part 11 of the Ctsrporation Tax Act 2010 or Section 256 of the Taxallon of Chargeable Galns Act 1.992. to the exlenl that 3uth income or gains are applled exclusivgly to oharltabl8 wrposes. Tangible lixed assets Major expenditure during Ihe year is due lo refurbishinent of vacant units and necessary repairs 10 occup5ed unlts, windows. fire alami and courtyard. This is on.gohg and necessary to malnlatii .a sufflcieni s18ndard for lelling and to conserve and pras8rve th8 building for futu generations and Is therefore wrltten off In full In the ygar It is Incurred. Page 12
The Barrack5 Trust Limitgd Notes to the Flnanclal Statements forthe Year Ended 31 March 2021 DeproGialion and amortisatlon Assgt ¢la$$ Land and Bulldlngs Depreclatlon method and rate no depreciation is Provided. Trade dèbtors Trade debtors afe arnounts due from customers for merchand'xe sold or seNices performed In Ihe ordinary course of business. Trade debtors 8re recogni5ed initially al the transaction price. Thay aro subs8q' uènly measured at amortlsed cost usSng the effective interest rn2th, less proV10n for IpalM1@nI. A provi5h)n for the Impairmonl of tsado debtors Is 88tabli$hed when there Is oblectNe evldence that the charty wlll notbe able to collect all amounts due according IL) tho original term8 of th8 recglvables. Cash and cash •qulvalents Ca8h and cash equlvalents coinprfse cash on hartd and call deposlts. and other short-temi tmghly Ilquid inv88trnenls Ihal are readily convertlble to a known amount of c85h and are subject to an insignificaTrt ttsk of Ghange In valug. Trade credltors rrade credllDrs are obligations to pay tor gmds or 5@twices th8t have bèén acquired in thg ordinary course of busln&ss from SUPNlers. Aw9unts payable are classmed 8s current Ilatlllfje8 If the Gharfty does tK)I have an uncondilional right, al thg end Df tha raportng period, to d&fgr s&tll8menl of the creditor for at least twelve months aft8r the reporting date. If there is an unconditional right to defer 5etdernent for at least tsjelve months after the repnrting date, Ihey are presented as non-ojrrenl Ilablllues. Trade creditor5 arp reGognissd initially at the transaction prtce subsequenlly measuwj al amorti58d cost using the efferlivg interest method. Fund 8trycture Unrestricted income fvnds are gener81 funds that are.available for use at the trustees dIScreOn in further8nce of th9 oblecllve8 of the charfly. Das>3nated funds are unrestricted funds set aside for specilr wry)0S al the discretion of tha trustee$. Reslricted income funcls are those donated for use in a particxAar area or for purposes, the use of whith Is restr(cted lo that area or purpose. Page 13
The Barracks Trust Llmit9d Notss to the Flnancial Statements for the Year Ended 31 March 2021 3 Income from donatlons and legacles Total 2021 Re5triGted funds Total 2020 Grants, including capital grants. Government grants 40,542 40.542 40,542 40.542 4 In¢omo froin other trading aGtlvltles Unrestricted fvnds Genergl Total 2021 Trading income-, Other Irading income 64,787 64,787 64,787 Unrestrlcted funLIs General Total 2020 Trading income- Qlher trading income 64,554 Pago 14
The Barrack5 Trust Limited Notes to th9 Financlal Slatements for the Year Ended 31 March 2021 Expendlture on r41slng fund$ a) Costs of tradlng actlyltles Unrestrictsd. funds General Rèstrictèd funds Total 2021 Note Prwty rèntal inGom8 ¢osts 25,036 77.886 42,922 25.036 17,886 42.922 Unrestrict&d *LEnds Gèneral Restri¢t¢d funds Total 2020 Note Pn¥)erty rental income costs Legal fees 56,2D8 450 79,840 136,048 450 56.658 79.840 136.498 bl Investment management costs Unrestrlcted funds General Total 2021 Note Qthw investment thanagemont ¢osts" Amounts payablg to.propèrty managers 9,102 9,1.02 9,102 9,102 Unrestrl¢tsd runds General Total 2020 other inve51rnent management ctists. Amounts pte to propety managers 11,546 11,545 Page 15
The Barrack5 Trust Lirnited Notes to the Financlal Ststements for the y.ear Ended 31 March 2021 6 Expendlture on charltable a¢tlvltles UnroStrl¢tèd fund Gonpral Total 2021 Charilab16 Disbursements {Granls) .Grants A(Jministratlon Govemance Costs Donation 2.615 38 757 1,000 2,615 38 1.000 4.410 Unreslrictod lunds GÈnoMI Total 2020 Charitable Dlsbursements {Grants} Grants.Adminlstralion Govemance Costs 4,187 1[ 1,056 100 5,343 7 Analysls of govemance and support CQ6ts Govgrnance GOStS Unrestrlcted fund$ Ggnaral Totsl 2021 Independent exAminer fees Examination of the financial st8tenients l)ther govemanc&.c08ts 500 257 257 757 757 Unrestricted funds General Total 2020 Independent examlner fees Examlnadon of the financial slatemenfs other govamance costs 400 656 Page 16
The Barracks Trust Limlted Noles to the Financial Statemenls for the Year Ended 31 March 2021 8 Government grants Nil was re¢elved from The National Lottery Hedtage Fund.12D20 £39,040) Nil was received from Newcaslle under Lyme Borough Coundl from Its Hlstorfc Bullding Grant Fund. 12020 E1,5021 The amount of grants recognised In Iho financial slalemenls was £-12020 - £40.542}. Thera w&e no unfulfilled conditions at the year end for either of the grants recewed. The charity dkl not benofll from any oth8r forms of govemment a$sl8tonGe. g Grarit4naking Analysis of grants Grants to imdividuals 2020 Grants ttr institulion 2021 2020 AnalysTS Newcastle Fotsdbank Bradwell Lodge OurSp2ce Peter Pan Nursgry Thomas Knott 1st Westland Guides Newcastle Communily Transport. Newcastle und?r Lyme Friendship Cèntre Douglas M8cm1118n N.S. Asperg8rs The LITno Trust NeWcaSe District Better Togelher 250 150 1.283 7,00 304 500 250 q,000 715 100 300 3,487 700 10 Tru6tse$ remuneration and •xpenses No trustees, nor ony pèr8ons.(x)nnected wtth them. have resTrive.d any remuneration frt>n thg charity during the year. No Irustees hBve received.ary reimbursed expenses fr( Ihe dudng the year. 11 Taxatlon The charity is a regist&red charty and is therefo exempl from t2xaticffl. Page 17
The Barracks Trust Llmited Notes lo the Financial Statements for the Year Ended 31 March 2021 12 Tanglb19 fExgd as$gts Land and ljuildings Total Costl valuation At 1 April 2020 At 31 March 2021 550,000 550,000 S50,0 550,000 Depre¢latlon At 31 March 2021 Not book valuè Al 31 March 2021 550.000 550.000 At 31 March 2020 550.OOQ 550,000 Revaluatlon The falr valu9 of lh8 company's Land and bull dlngs Ylas revalued on 2 February 2011 by Butlers John Bee, an independent valuer. Had this d2ss of asset been measured on a historical c05t basis, their c8rryin9 amount Vlou have been £550,00012020- £550.000). 13 Dgbtors 2021 2020 Trade debtors Prepayments other debtors 4.230 1,755 7.985 1.599 6,785 14 Cash and cash èquivalents 2021 2020 Cash atbank 103,034 95,781 Page 18
The Barracks Trust Limited Notes to the FinanGial Statements for the Year Ended 31 March 2021 15 Credltors: amoun'ts falllng due wlthln one year 2021 2020 Accruals 400 2D20 Deferred income al 1 April 2020 Amounts released from pleOu$ periods Defeired incomp al year end 238 238 1&Funds Balanco at l April 2020 Balanc& at 31 March 202 Incoming resources Resourc06 expended Transfers Unrastrieted funds Generdl General 18.000 64,787 131,6191 133.168) IB.000 Deslgnated Refurbi5hmenl costs Oth (6.929) 33.168 101.518 550,tx)o 651,518 550,000 625.279 33,168. Total unrgstri¢t9d funds 643,279 64,787 13B.5481 669.518 Restrieted funds Nallonal Lottèry Herltage Fund 8,887 117,8861 8.999 Total funds 652 166 660.519 Balance at l Aprll 2019 Balance at 31 March 2020 Incomlhg resources Rèsou8$ expandod Transfer6 Unrostricted fund6 General G&nBral 18,OOQ 64.554 162,7091 18,000 Paga19
The Barracks Trust Limited Notes to the Financlal Statements for the Year Endéd 31 PJlarch 2021 Balance at 1 Aprfl 2019 Balance al 31 March 2020 Incoming resources Resources expended Transfers Deslgn8ted Refurbishment costs Other 84,271 550,000 {10,837} 1,845 75.279 550,000 110,83n 1.845 625.279 Tot81 unrestricted funds 652,271 73,5461 643,279 Restrlcted National Lollery Heritage Fund Newcaslle-Under-Lyme Borough CDundl 48.185 39.Q40 178.3381 8,887 Total restricted funds 48,185 40,542 170,8401 Total funds TOO.456 105.096 153.386 652.166 The 5pe¢ific PUTpos8&for which the funds are to be applied are a5 fcllows.. The reslrfcted Natlohal Lottery Heritage fund Is to k used for ' Baok to the Barracks, to fund.the r&plament of windows in the Barrack5 and provide 8 seiies of heritage aclivilies. The final instslment of £g.T60 18 duo in Aprll 2022. Funding from Newcaslle-Under-LyThe Borou9h C¢)uncil was b pay lor wndow repl?cem8nt and essential repairs. Within unffslricted funds is tho value of the propÈrty of Thg Barfad(s Trust d)arily £550.000 on 1 Apdl 2012. the dalg of Iransfgr into the company. Page 20
The Barracks Trust Llmited Notes to the Flnanclal Statements for the Year Ended 31 March 2021 17 Analysis of n&t assets beiween funds Tofal funds t31 March 2021 UnrestrÈcted'funds Deslgnated Restrfctsd funds General Other Tangible fixed assets Curienl.88sets Current liabilities 550.000 550,OC() 111,019 150QI 51,668 500 68,350 (8.9991 Totsl net assets 51,168 68,350 660.519 Totsl funds at31 PAarth 2020 Unrestrictgd funds Designated Rg$tri¢tfjd funds GÈneFal Other Tangible fixed Bssels Current assets Current liabilities 550.OLK) 550.000 102,566 14001 652,166 18,400 400 75,279 8,887 Total n8t asse15 18,000 75.279 550.000 8.887 18 Non4dlu$tin9 event5 after the finan¢ial peTiod The COVID pandemic (x)nlintJes lo pwent Ihe Twst with a numb of challenges. Tenants-l beligve the Tnisl has worked wlh all the tenants In a reasonable and compasslonato way. This working k)gelher has cot)tributed towards the successful gjrvival of aur lenanl basg. The. Trust has gÉven financtal support in th& form of deferred rantal payments, mad& Contributions to Ihe repair of seM¢es within Ihe units which are not rK)rmally a Landlord responsi1lity. Twsl Projects Thè Trust receed a grant of £97.6(K) from the National Lottery Herrtage Fund towards the fyjst of rgplaoSng 43 wirKlows. £48.800 was receivtsxl In 2019 8nd a further inslalment of £39,040 In 2D20. Tbe last instslm8llt of £9,760 will be pahl in 2022. Desplle the pand8mlG and lock down all of the speclfled wlndows were ¥ep(aced. One element of the project that was severely Impaoted was the h18torlc81 development programme. The programffte hcluded a number of discrete gvertls and a[lIeS such as the form81ion of a resoarch team lo Invesligala the soolal hlslory of th& arracks, historical walks, a drarna group to crgat& a mini-8arracks pky, wblicalion nf a Barrdc&s history bookle*" all these events have been postponed becauye.of Ihe pandemi Grant GMng- The Twsfs grant givlng acbvitses have been ¢urtalled duiing this pedod. Pago 21