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2021-02-06-accounts

THE BLOOMFIELD CHARITABLE TRUST

Trustees’ Report

and Financial Statements

for the year ended 6 February 2021

Registered Charity Number 1145866

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

THE BLOOMFIELD CHARITABLE TRUST

INDEX

Page
Charity information 1
Trustees’ report 2
Independent Auditor’s report 4
Statement of financial activities 6
Balance sheet 7
Accounting policies 8
Notes to the financial statements 10

THE BLOOMFIELD CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

CHARITY INFORMATION

Trustees

Martin J Hellawell Mandy J Hellawell Coutts & Co to 06 April 2021 Ludlow Trust Company Limited from 06 April 2021

Principal office

Ludlow Trust Company Limited Trustee Department 1[st] Floor Tower Wharf Cheese Lane Bristol BS2 0JJ

Registered charity number

1145866

Independent Auditor

Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Bankers and investment managers

Coutts & Co 440 The Strand London WC2R 0QS

Solicitors

TLT LLP One Redcliffe Street Bristol BS1 1TP

Page 1

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

THE BLOOMFIELD CHARITABLE TRUST

TRUSTEES’ REPORT

The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 6 February 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

STRUCTURE GOVERNANCE AND MANAGEMENT

The Bloomfield Charitable Trust is a registered charity constituted under a trust deed dated 7 February 2012 and registered as a charity 13 February 2012.

The trust is controlled by the trustees (list provided on page 1). Trustees are appointed by the settlors during their lifetime and subject to that the trustees.

On agreeing to become a trustee of the charity, the trustees are thoroughly briefed by the existing co-trustees on the history of the trust, the day-to-day management, responsibilities of the trustees, the current objectives and future plans.

The charity is managed by the trustees, with all decisions taken by the trustees.

The trustees have assessed the major risks to which the charity is exposed. The trustees believe that by ensuring controls exist over key financial systems incorporating Coutts & Co’s systems and controls they have established effective systems to mitigate those risks.

OBJECTIVES AND ACTIVITIES

The charity’s objects are to further such other purpose or purposes which are exclusively charitable according to the law of England and Wales in any part of the world and in such manner as the trustees may in their absolute discretion think fit.

The Trustees shall apply the income and, in their absolute discretion, the capital of the Trust in promoting the objects. In order to further the charity’s objects the Trustees apply the income and capital by making grants to charitable organisations for the public benefit. These grants are made to organisations whose core purposes meet the charity’s objects and the trustees consider in making these grants the charity is fulfilling its aims.

In determining how the charity should pursue its objects, the trustees have had regard to the Charity Commission's guidance on public benefit.

ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW

During the year under review the charity made grants in furtherance of the objects amounting to £354,153 (2020: £280,778).

During the year under review the charity received donations amounting to £1,682,755 (2020: £4,404,940).

At 6 February 2021 the charity’s total funds amounted to £6,221,298 (2020: £4,732,481) with reserves of £11,830 (2020: £23,658). Given the availability of the expendable endowment fund the trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time.

The trustees have continued their investment policy of holding funds in a mix of fixed interest securities and equities to provide income and maintain capital.

FUNDRAISING STANDARDS

The charity does carry out any fundraising activities from the public with grants made from income derived from capital and capital withdrawals.

Page 2

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

TRUSTEES’ REPORT

PLANS FOR FUTURE PERIODS

The trustees intend to continue the charity’s grant-making activity in furtherance of the charity’s objects.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

APPOINTMENT OF INDEPENDENT AUDITOR

During the year under review the charity exceeded the threshold for audit and appointed Blue Spire Limited as auditors to the charity. Blue Spire Limited have expressed their willingness to continue as auditors to the charity for subsequent financial years where the charity remains over the audit threshold.

Approved by the trustees and signed on their behalf.

James Sansum on behalf of Ludlow Trust Company Limited Trustee

Date 09 December 2021

Page 3

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

INDEPENDENT AUDITOR’S REPORT

Independent Auditor’s Report to the Trustees of The Bloomfield Charitable Trust

Opinion

We have audited the financial statements of The Bloomfield Charitable Trust (the ‘charity’) for the year ended 06 February 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance 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 with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ 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 charity'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 responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Page 4

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

INDEPENDENT AUDITOR’S REPORT

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to 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 (UK) 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 to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Cawley Priory
South Pallant
Chichester
West Sussex
Blue Spire Limited, Statutory Auditor PO19 1SY
Date
10 December 2021

Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Page 5

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Investments
2
Total
EXPENDITURE ON:
Raising funds - Investment management fees
3
Charitable activities
4
Total
Net gains/(losses) on investment assets
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
12
Total funds carried forward
12		 Unrestricted
Funds
£
-
76,332
76,332
-
356,253
356,253
-
(279,921)
268,093
(11,828)
23,658
11,830		 Endowment
Funds
£
1,682,755
-
1,682,755
49,934
-
49,934
135,917
1,768,738
(268,093)
1,500,645
4,708,823
6,209,468		 2021
Total
Funds
£
1,682,755
76,332
1,759,087
49,934
356,253
406,187
135,917
1,488,817
-
1,488,817
4,732,481
6,221,298		 2020
Total
Funds
£
4,404,940
53,418
4,458,358
34,938
282,878
317,816
424,500
4,565,042
-
4,565,042
167,439
4,732,481

None of the charity's activities were acquired or discontinued during the above two financial years.

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 6

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

BALANCE SHEET AS AT 6 FEBRUARY 2021

Note
FIXED ASSETS
Investments - managed funds
9
Total fixed assets
CURRENT ASSETS
Cash at hand and in bank
Total current assets
CURRENT LIABILITIES
Creditors: amounts falling due within one year
10
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than one year - grants payable
Total assets/(liabilities)
THE FUNDS OF THE CHARITY
Expendable endowment funds
12
Unrestricted funds
12
Total charity funds		 £
£
4,485,121
4,485,121
1,744,206
1,744,206
8,029
1,736,177
6,221,298
-
6,221,298
6,209,468
11,830
6,221,298
2021		 £
£
4,596,722
4,596,722
142,940
142,940
7,181
135,759
4,732,481
-
4,732,481
4,708,823
23,658
4,732,481
2020		 £
£
4,596,722
4,596,722
142,940
142,940
7,181
135,759
4,732,481
-
4,732,481
4,708,823
23,658
4,732,481
2020
4,732,481
-
4,732,481
4,708,823
23,658
4,732,481

The notes on pages 10 to 14 form part of the financial statements.

09 December 2021

The financial statements on pages 6 to 14 we approved and authorised for issue by the trustee on ……………………………………. and signed on its behalf by:

…………………………………………

James Sansum on behalf of Ludlow Trust Cmpany Limited Trustee

Page 7

THE BLOOMFIELD CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

The Bloomfield Charitable Trust is an unincorporated association constituted under a trust deed. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:

● Raising funds; these include investment management fees charged by the charity's investment managers

● Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.

VAT

The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.

Taxation

The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.

Page 8

THE BLOOMFIELD CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

ACCOUNTING POLICIES

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Where investments are denominated in currencies other than Sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.

Investments held in foreign currencies

Where investment assets are held in a foreign currency they are translated at the prevailing rate at the balance sheet date and any gain/loss on exchange rate movements is included in the statement of financial activities in the other recognised gains and losses section.

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Fund accounting

Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 9

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

NOTES TO THE FINANCIAL STATEMENTS

1. Donations and legacies

1. Donations and legacies
Donations Unrestricted
Funds
£
-
-		 Endowment
Funds
£
1,682,755
1,682,755		 2021
Total
Funds
£
1,682,755
1,682,755		 Unrestricted
Funds
£
-
-		 Endowment
Funds
£
4,404,940
4,404,940		 2020
Total
Funds
£
4,404,940
4,404,940

2. Investment income

2. Investment income
Unrestricted
Funds
£
Income from investments
76,125
Interest on cash deposits
207
76,332
3. Raising funds - investment management charges
Unrestricted
Funds
£
Fees paid to investment managers
-
-		 Endowment
Funds
£
-
-
-
Endowment
Funds
£
49,934
49,934		 2021
Total
Funds
£
76,125
207
76,332
2021
Total
Funds
£
49,934
49,934		 Unrestricted
Funds
£
52,277
1,141
53,418
Unrestricted
Funds
£
-
-		 Endowment
Funds
£
-
-
-
Endowment
Funds
£
34,938
34,938		 2020
Total
Funds
£
52,277
1,141
53,418
2020
Total
Funds
£
34,938
34,938

4. Charitable activities

4. Charitable activities
Grants (see note 5)
Governance costs (see note 6)		 Unrestricted
Funds
£
354,153
2,100
356,253		 Endowment
Funds
£
-
-
-		 2021
Total
Funds
£
354,153
2,100
356,253		 Unrestricted
Funds
£
280,778
2,100
282,878		 Endowment
Funds
£
-
-
-		 2020
Total
Funds
£
280,778
2,100
282,878

Page 10

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

NOTES TO THE FINANCIAL STATEMENTS

5. Grants - to institutions

Action for Kids Charitable Trust
Lancaster University
National Autistic Society
Resources for Autism
School-Home Support
The Friends of Harington Scheme
The Markfield Project
The Raspberry Pi Foundation
6. Governance Costs
Unrestricted
Funds
£
Independent auditor's fees
2,100
2,100
7. Examiner's and Auditor's remuneration
Unrestricted
Funds
£
Auditor's fees - audit
2,100		 4 payments
2 payments
2 payments
2 payments
Endowment
Funds
£
-
-
Endowment
Funds
£
-		 2021
Unrestricted
Funds
£
50,000
-
48,793
5,000
26,700
10,000
15,500
198,160
354,153
2021
Total
Funds
£
2,100
2,100
2021
Total
Funds
£
2,100		 Unrestricted
Funds
£
2,100
2,100
Unrestricted
Funds
£
2,100		 5 payments
3 payments
2 payments
2 payments
Endowment
Funds
£
-
-
Endowment
Funds
£
-		 2020
Unrestricted
Funds
£
62,000
1,200
150,000
-
44,700
10,000
12,878
-
280,778
2020
Total
Funds
£
2,100
2,100
2020
Total
Funds
£
2,100

8. Related party transactions

Fees payable to Coutts & Co, which was a trustee of the charity, are included under raising funds and governance costs and are authorised under section 6 of the trust deed. At the balance sheet date £5,929 (2020: £5,081) was accrued in respect of these fees.

The charity has no employees, with all administration being carried out by the trustees.

No trustees received remuneration nor expenses in the year under review or the comparative year.

Page 11

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

NOTES TO THE FINANCIAL STATEMENTS

9. Fixed asset investments - managed funds

9. Fixed asset investments - managed funds
Market value brought forward
Additions at cost
Disposals at proceeds
Gain/(Loss) on revaluation
Market value carried forward
Asset distribution
Listed investments		 2021
£
4,596,722
2,855,250
(3,102,768)
135,917
4,485,121
4,485,121
4,485,121		 2020
£
152,978
11,888,523
(7,869,279)
424,500
4,596,722
4,596,722
4,596,722

10. Creditors: amounts falling due within one year

Accruals - Professional fees
Accruals - management fees		 Unrestricted
Funds
£
2,100
-
2,100		 Endowment
Funds
£
-
5,929
5,929		 2021
Total
Funds
£
2,100
5,929
8,029		 Unrestricted
Funds
£
2,100
-
2,100		 Endowment
Funds
£
-
5,081
5,081		 2020
Total
Funds
£
2,100
5,081
7,181

11. Analysis of net assets between funds

Fixed assets
Current assets
Current liabilities		 Unrestricted
Funds
£
-
13,931
(2,100)
11,831		 Endowment
Funds
£
4,485,121
1,730,275
(5,929)
6,209,467		 2021
Total
Funds
£
4,485,121
1,744,206
(8,029)
6,221,298		 Unrestricted
Funds
£
-
25,758
(2,100)
23,658		 Endowment
Funds
£
4,596,722
117,182
(5,081)
4,708,823		 2020
Total
Funds
£
4,596,722
142,940
(7,181)
4,732,481

12. Analysis of net movements in funds

Total funds brought forward
Total incoming resources
Total resources expended
Gains/(losses) on investments
Transfers between funds
Total funds carried forward		 Unrestricted
Funds
£
23,658
76,332
(356,253)
-
268,093
11,830		 Endowment
Funds
£
4,708,823
1,682,755
(49,934)
135,917
(268,093)
6,209,468		 2021
Total
Funds
£
4,732,481
1,759,087
(406,187)
135,917
-
6,221,298		 Unrestricted
Funds
£
2,402
53,418
(282,878)
-
250,716
23,658		 Endowment
Funds
£
165,037
4,404,940
(34,938)
424,500
(250,716)
4,708,823		 2020
Total
Funds
£
167,439
4,458,358
(317,816)
424,500
-
4,732,481

The transfer of funds from the expendable endowment fund to unrestricted general fund was implemented by the trustees in order to provide resources for grant awards in furtherance of the charity's objectives as authorised by clause 2.3 of the trust deed.

Page 12

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

NOTES TO THE FINANCIAL STATEMENTS

13. Comparative statement of financial activities

Unrestricted
Endowment
Funds
Funds
Note
£
£
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
-
4,404,940
Investments
2
53,418
-
Total
53,418
4,404,940
EXPENDITURE ON:
Raising funds - Investment management fees
3
-
34,938
Charitable activities
4
282,878
-
Total
282,878
34,938
Net gains/(losses) on investment assets
-
424,500
Net income/(expenditure)
(229,460)
4,794,502
Transfers between funds
12
250,716
(250,716)
Net movement in funds
21,256
4,543,786
RECONCILIATION OF FUNDS
Total funds brought forward
12
2,402
165,037
Total funds carried forward
12
23,658
4,708,823
13. Financial instruments
The carrying amounts of the charity's financial instruments are as follows:
2021
Total
Funds
£
Financial assets
Measured at fair value through net income/(expenditure):
Fixed asset investments
4,485,121
4,485,121
The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows:
2021
Total
Funds
£
Income and expense
Financial assets measured at fair value through net income/(expenditure)
Investment income
76,125
Investment management fees
(49,934)
26,191		 2020
Total
Funds
£
4,404,940
53,418
4,458,358
34,938
282,878
317,816
424,500
4,565,042
-
4,565,042
167,439
4,732,481
2020
Total
Funds
£
4,596,722
4,596,722
2020
Total
Funds
£
52,277
(34,938)
17,339

Page 13

THE BLOOMFIELD CHARITABLE TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 FEBRUARY 2021

NOTES TO THE FINANCIAL STATEMENTS

13. Financial instruments (continued)

13. Financial instruments (continued)
Net gains and losses (including changes In fair value)
Financial assets measured at fair value through net income/(expenditure)
Net gains/(losses) on investments		 135,917
135,917		 424,500
424,500

Fixed asset investments are held at fair value with valuations obtained by reference to market prices from the appropriate stock exchange, bid prices and last traded prices where applicable.

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