Registered number 08766179 Charity number 1155467
The Barry Family Foundation
## Report and Accounts
31 March 2023
**The Barry Family Foundation Legal and Administrative Information**
## **TRUSTEES & DIRECTORS**
## **ADDRESS**
## **CHARITY REGISTRATION NUMBER COMPANY REGISTERED NUMBER**
## **INDEPENDENT EXAMINER**
## **BANKERS**
Nicolas Barry Oliver Barry Stephen J Barry Linda Louise Barry Lucinda Barry
19 Newman Street London W1P 3HB
1155467
8766179
J I Borucki FCA Borucki & Co 42 Radnor Road Harrow Middlesex HA1 1RZ
HSBC Bank plc PO Box 1EZ 196 Oxford Street London W1D 1NT
Barclays Bank plc 83 Wandsworth High Street London SW18 2PR
## **REASTART REFUGEE SUPPORT ADVISORY COMMITTEE**
Stephen Allcock James Barnard Sophie Service
www.restartrefugeesupport.ord
1
**The Barry Family Foundation Registered number: 08766179 Trustees's' Report**
The trustees present their report and accounts for the year ended 31 March 2023.
## **Introduction**
The charitable company was incorporated on 7 November 2013 under the Companies Act 2006 and registered as a charity on 24 January 2014 with registration number 1155467.
## **Trustees**
The following persons served as trustees during the year:
S J Barry Mrs L l R Barry O Barry N Barry Ms L Barry
## **Objectives**
The objective of the Charitable Trust is to make donations to registered charities as the trustees see fit, and to develop the refugee support activites of its charitable division Restart Refugee Support.
## **Review of the year**
The Medical Grant referred to in last years review received matched funding and the first payment of this three-year commitment, was made. A previous commitment elsewhere, is no longer required and this has been eliminated from the Charities forward commitments.
## **PUBLIC BENEFIT**
The Trustees have consulted the guidance made available by the Charity Commission for England and Wales on the Public Benefit requirement of the Charities Act 2011.
The Trustees are confident that they have complied with their duty under the Charities Act 2011 in that they have had due regard to public benefit guidance published by the Commission. In furtherance of the trusts charitable purposes for the public benefit the trustees give details of their activities in the following paragraphs.
## **Investment policy**
The Trustees believe in spreading its investmenst amongst several managers or funds. Performance is monitored with a view to a balances and medium term outlook. Within the year under review the decision was taken to invest in some funds specialising in the Far East : these have suffered since investment.
## **Reserves policy**
It is the policy of the Trustees to maintain sufficient reserves in unrestricted funds to make donations on regular basis as the Trustees see fit and to maintain sufficient reserves in restricted funds to honour commitments made.
Generally the Foundation will make grants from its funds. The foundation does not fundraise from the public, although now receives donations and is seeking third party funding for its refugee lending programme. The Trustees acknowledge that the Foundation has more than sufficient funds available to support our current commitments, and if RRS funding requirement grows significantly trustees will look to partner with other charities to support this work.
There continue to be many calls for our support and regretfully our resources are very limited.
2
**The Barry Family Foundation Registered number: 08766179 Trustees's' Report**
## **Risk assessment**
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure to major risks.
## **Future Developments**
The Restart lending programme will continue to focus on the dental community and sensible business startup propositions. There are now approaching 100 dentists who are members of the Restart Dental Programme.
## **Directors' responsibilities**
The directors are responsible for preparing the report and accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice
Company law requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss for that period. In preparing those accounts, the directors are required to
select suitable accounting policies and apply them consistently
make judgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed, subject to any material departures disclosed in the accounts
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
## **Small company provisions**
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board on
S J Barry Director & Trustee
3
## **The Barry Family Foundation**
## **Independent Examiner's Report to the Trustees of The Barry Family Foundation**
I report on the accounts of The Barry Family Foundation for the year ended 31 March 2023 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and related notes.
This report is made solely to the charity's trustees, as a body, in accordance with Section 145(3) of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters we are required to state to them in an aindependent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, formy examination, for this report, or for the opinions I have formed.
## **Respective responsibilities of trustees and the independent examiner**
The charity's trustees you are responsible for the preparation of the accounts. The charity's trustees consider an audit is not required this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the2011 Act;
- to follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act.
- have not been met
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
J I Borucki FCA Borucki & Co Chartered Accountants 42 Radnor Road HA1 1RZ
Signed on
4
## **The Barry Family Foundation Statement of Financial Activities for the year ended 31 March 2023**
|**Income**
Donations
Dividends and Interest
Misc income
Profit on exchange
**Total Income**
**Expenditure**
_Charitable activities_
Charitable donations (note 2)
_Administrative costs_
Independant Examiner Fees
Other expenses
Bank charges
Bad debts
Exchange losses
**Total resources expended**
**Net incoming/(outgoing) resources**
Net movements on investments
**Net incoming/(outgoing) resources**
Transfers between funds
**Net movement in funds**
Balances brought forward at
1 April 2022
Balances carried forward at
31 March 2023|**Unrestricted Restricted Endowment**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
250,226
-
-
250,226
13,031
-
-
13,031
-
-
-
-
106
106
263,363
-
-
263,363
73,997
-
-
73,997
1,746
-
-
1,746
205
-
-
205
353
-
-
353
(7,311)
(7,311)
15
-
-
15
69,005
-
-
69,005
194,358
-
-
194,358
-
-
(28,522)
(28,522)
194,358
-
(28,522)
165,836
5,103
(5,103)
-
-
199,461
(5,103)
(28,522)
165,836
(116,183)
33,088
1,254,836
1,171,741
83,278
27,985
1,226,314
1,337,577|**Total**
**Unrestricted Restricted Endowment**
**Funds**
**Funds**
**Funds**
**Funds**
**2022**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
3,475
3,475
-
-
14,811
14,811
-
-
69
69
-
-
-
-|
|---|---|---|
|||18,355
18,355
-
-|
|||21,337
21,337
-
-
1,854
1,854
-
-
67
67
-
-
318
318
-
-
(36,089)
(36,089)
-
-
177
177
-
-|
|||(12,336)
(12,336)
-
-|
|||30,691
30,691
-
-
4,759
-
-
4,759|
|||35,450
30,691
-
4,759
-
3,926
(3,926)
-|
|||35,450
34,617
(3,926)
4,759
1,136,291
(150,800)
37,014
1,250,077|
|||1,171,741
(116,183)
33,088
1,254,836|
5
**The Barry Family Foundation Registered number:** 08766179 **Balance Sheet as at 31 March 2023**
||**Notes**||**2023**||**2022**|
|---|---|---|---|---|---|
||||**£**||**£**|
|**Fixed assets**||||||
|Investments|3||1,160,201||998,722|
||||1,160,201||998,722|
|**Current assets**||||||
|Debtors|4|-||-||
|Restart refugees support loans|5|137,936||124,822||
|Cash at bank and in hand||165,700||155,457||
|||303,636||280,279||
|**Creditors: amounts falling due**||||||
|**within one year**|6|(126,260)||(107,260)||
|**Net current assets**|||177,376||173,019|
|**Total assets less current**||||||
|**liabilities**|||1,337,577||1,171,741|
|**Net assets**|||1,337,577||1,171,741|
|**Reserves**||||||
|Unrestricted Fund|||83,278||(116,183)|
|Restricted Fund|||27,985||33,088|
|Endowment Fund|||1,226,314||1,254,836|
|**Shareholders' funds**|||1,337,577||1,171,741|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S J Barry Director Approved by the board on
6
## **The Barry Family Foundation Statement of cash flows for the year ended 31 March 2023**
|**Note**
**Cash generated in operating activities**
**A**
**Cash flows from investing acivities**
Investment income
Proceeds of investment sales and withdrawals
Purchases of investments
Cash provided (used) in investing activities
Increase in cash and cash equivalents in year
**Movement in year**
Increase (decrease) in cash at bank and in hand
**A.**
Net income (expenditure)
Deduct investment income
Add (deduct) net movement on investments.
(Increase) decrease in debtors
Increase (decrease) in creditors
(Increase) decrease in debtors
**Reconciliation of net movement in funds to net cash flow from**
**operating activities**|**2023**
**£**
187,212
13,031
60,000
(250,000)
(176,969)
10,243
10,243
10,243
**2023**
**£**
165,836
(13,031)
28,522
(13,115)
19,000
-
187,212|**2022**
**£**
(31,937)|
|---|---|---|
|||13,473
229,653
(149,149)|
|||93,977|
|||62,040|
|||62,040|
|||62,040|
|||**2021**
**£**
159,198
(13,473)
(171,476)
8,814
(15,000)
-|
|||(31,937)|
7
**The Barry Family Foundation Notes to the Accounts for the year ended 31 March 2023**
## **1 Accounting policies**
## **Basis of preparation**
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The trust constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
## **Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations, are recognised when the Trust has been notified in writing of both the amount and settlement date. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield in the investment portfolio.
## **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 settlement will be required and the amount of the obligation can be measured reliably.
The cost of generating funds includes the fees paid to investment managers in respect of the management of the charity's investment portfolios.
Expenditure on charitable activities comprises direct expenses incurred on the defined charitable purposes of the charity and includes staff costs attributable to the activity.
Governance costs comprise of expenditure on compliance with and advice on constitutional and statutory matters.
As all expenditure can be attributed to specific categories no apportionment between heading has been necessary. Irrecoverable VAT is included in the items of expenditure to which it relates.
## **Investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Trust does not acquire put options, derivatives or other complex financial instruments unless to hedge against its investment portfolio. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
## **Fund accounting**
The general fund comprises those monies which may be used towards meeting the charitable objectives of the charity at the discretion of the trustees.
8
**The Barry Family Foundation Notes to the Accounts for the year ended 31 March 2023**
## **Taxation**
The charity is registered charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities
## **Foreign currency translation**
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
|**2**
**Donations Paid**
Camphill Village Trust
Centre for Education
Charlottes Garden
Chelsea Society
Courtauld Institute
Comunidad Isrealita
English National Ballet
English Stage (Royal Court)
Hammerson Nightingale
Institute of Economic Affairs
Leo Baeck Temple
Medecines sans Frontiers
Mulberry Centre
National Gallery
National Portrait Gallery
New London Synagogue
New Israeli Fund
New West End
Nightingale
NSPCC
Prstrate Cancer Research
Susan Aichison Scholarship
Tate Foundation
United Synagogues
Donation written back as conditions not met|**2023**
**£**
350
500
-
50
2,000
1,687
-
500
-
250
-
1,000
350
10,000
1,000
-
1,500
500
500
350
100,000
1,000
200
2,260
(50,000)
73,997
0|**2022**
**£**
350
-
-
50
2,000
-
1,500
500
500
250
3,887
-
350
10,000
-
100
1,500
-
-
350
-
-
-
-
-|
|---|---|---|
|||21,337|
|||0|
9
## **The Barry Family Foundation Notes to the Accounts for the year ended 31 March 2023**
|**3**
**Investments**
Market value at 1 April 2022
Additions
Sales and Withdrawals
Increase (decrease) in market value
At 31 March 2023
Investments at market value comprised:
Unquoted Investments
Apax Fund
Citco Fund
Quaero Capital Bamboo
Tailwinds
Loan stock and debenture
Freehold
-
**4**
**Debtors**
Student loans
Less: provision against student loans
**5**
**Restart refugees support loans**
Brought forward loan balances
Loans advanced in year
Repayments received
Less: provision for bad debts
**6**
**Creditors: amounts falling due within one year**
Donations provided but not paid
Accruals
Other creditors|**2023**
**£**
998,723
250,000
(60,000)
(28,522)
1,160,201
301,093
10,000
319,359
119,153
359,596
1,000
50,000
1,160,201
**2023**
**£**
-
-
-
**2023**
**£**
150,733
71,931
(64,728)
157,936
(20,000)
137,936
**2023**
**£**
121,000
2,150
3,110
126,260|**2022**
**£**
810,959
190,797
(7,793)
4,759|
|---|---|---|
|||998,722|
|||20,000
16,912
295,425
140,060
475,325
1,000
50,000|
|||998,722|
|||**2022**
**£**
1,706
(1,706)|
|||-|
|||**2022**
**£**
146,154
45,491
(40,912)|
|||150,733
(25,911)|
|||124,822|
|||**2022**
**£**
105,000
2,150
110|
|||107,260|
## **7 Restricted Fund** This restricted fund consists of monies donated to the charity for the purpose of contributing to restart refugee support loans. **8 Analysis of net assests between funds**
|Investments
Current assets
Creditors: amounts falling due
within one year|Unrestricted
Fund
-
209,538
(126,260)
83,278|Restricted
Fund
-
27,985
-
27,985|Endowment
Fund
1,160,201
66,113
-
1,226,314|Total funds
1,160,201
303,636
(126,260)|
|---|---|---|---|---|
|||||1,337,577|
10