REGISTERED CHARITY NUMBER: 1169993 UThal Flnwxial 8 for the Yeai Enthd S ra Curus ChArftabl• Tnnt Wrighl Vigar Lwnited Chartered ACCIntarrts & Busines6 Athasers 15 Nw4land LwKolnshNe LN11XG
The Barbara Curlis chitable Trugl Contsnts ofth ial Statements for the Year Ended S Report of the Trustees Indendent Examlnots Report Sialemenl of Financlal ktivities Balante Sheet Notes to the Finan¢lal Ststements Detalled Statt of FinanGlal Activities 10
. Charllable Tru ofthe Tru8tth End8d 5 rll 2025 The trustees present Iheir report with the finandal statemwAts af the &ity frJrthe year ended 5 April 2025. The trusle8S have adopted the provisions of Accounting and Reporting by (Iwlies: Stslement of Rec0mnnded Practic& apklicabie to chwiknes prepanng their xcounts in aCall¢¥ v1h tha Financjal Rybng Standard applicable in the UK and Rep¢ of Irel IFRS 102) (el[live 1 Jawary 2019). OBJEcnvES AND ACTMllES Objgctivos and alms The objects tr which the CIHrity is estaArsh8d are to furth•T the edatron arKI tralnlng of persons resident in England and Wales In the baking, feCtI0nery. butcery or calering trades by SLKh means as the truste89 determine induding the following; - Providing grants to irNJividuals to enable them Io fecehe bètter training vJ education to indLwJe assistance with th8 Costs of INlng. equlpment and books. - Liaising with Vari8 Institlon$ who are alrea(ty wdl estat11sd In the training of people with the above rrthtioned trade510 establsh the most efferaive way lo suppl8yr Iher iKts for and eduthn. SlynM¢ant aGtivitlo9 The Twst currenlty further8 ils charttai4e purposes trthe public benefft Ih1fyh foUc4wlng aclNS1ie8.' Provtding fijnding to assist sludenls attending the SCI01 ofArtisan Foc<1 in WelbBck. Nottinghamshire. vhth fees, equItt aThJ other Irwning r8ds. Students are 8Fyaised by the alowing the chanty to offor finanThal support lo students who otherk4ise would not b8 able to allend. Providing financial aSsistae ts fr>r stentS of the S[1 or Artisan Ftyjd to asslst In their training needs when commenclry Iw5iness or empbynEnt in baking. confectionery. txrtcw or oteriThJ trades. chanty also invites applicallor6 fr(¥n knd1vjdLls ky asgslance wth trainivj costs r8laliNJ to bakln9. ccrfethnery, butchery or bakId from txher institution& Publlc benefit In deterMing th8 Charitls adivibe8 the Trustees have had due regard lo the Charity commission guidance on publlc benefil. Grantmaklng Grnnls wll be mada by chatity to quaWr¥J indiyidLds in fvrtheffance of Ihe charity8 objediv88. Education provideTS prowse indi¥iduals that meet 1he crlterfa for grants io th8 BO81 of Twstees. Thè Board cA)n$Klgr Ihe applic9tion8 ¢)n a case by case basis and deade wh irKJivlduals to suppo Applications for grant5 can be made via the website of th8 th8rity 8t w•M.barf>aracurti8.org. These applicathons are discuss1 by tha board bth)rÈ thciding on ther to suppcrt the application. All appIlt9 are notified of the deeAsion of Ih8 Board. ACHIEVEMENTS AND PERFORW4CE Charftable actlYitie8 The tharity commltted to payrig the acadern bwies totallng £19.18012024: £14.700) to a6$t sludents with the LX)$t¥ ¢fthe Thploma courne3 at the School ofArti6an Food. Invo8tment perfornMnGo DuFing the wiod ts Ir(Tr from imrestrnents lowled £26.498 (2(Y24'. £24,613). This represents return of 4.570A12024: 4.55Vo) on the ajst of irbvestmerts. is Just 0Ve thetgeted 4% Ie fetum tarwt of the thadty. The has been 10ss of £2,127 on investmerts in the perirAI vtr a realised gain sale ol investrnents totalling £2,923 (2024..1os$ of £10.293) and uTrrealised1os¥es of £&05012024' of£29.972). HNANCIAL REVIEW Flnan¢lal posltlon At the year end the charity had unrestrided reseNg5 of £552.666 {2024: £559.986). £579.288 of the fumls are held Ylthift inve8Mnt8 n NdeT to gen8rato a relwn fDr the charity to thsirfbute as grants with £41.572 held as cash within the portfolto. The chaiity has rneg81i¥e free reseNes of £26,622 thi¢h rewe58nts the exceBS of committéd exrKI11Ure over th¢ liwid a58ets of the chanty. Thls Is consid0r reasonabl8 giving th? polenllal of the payrnents. Ihe prcy"eLbJ inv•&IMw IneM Pr to tho panentS and the abilty to drnw4lty•m on th• CAl%tal of Thletherrts prior ¢0 the fundlw commitm8nts. Page 1
Th• Bar ra Curtls Charitsbl TNst rt of thE Tstee$ for thè Ye Ended 5 ri12025 FINANCIAL REVIEW InvFslment poli¢y and obJectlv•8 Our investmènt advisors {Canaccord Genuty Wealth ManagerrEnt) are instmcted to invest to maximise the income return on the fiJrKls invested in order to CfEaie a sufficient income stream to allow the charity Ihe neceg¥ary funds to achieve its Charitab objectives. The Irustets hawe set a target rdte of income of 4% withoul taking lar9e sk$. A risk option of 5 IlowJmedium} has be aiwed w,iKh will allow the investment manager to access higher yields the FTSE 250 market Mthi18t balanong rtsk and retsnng ¢))ntrol thrgh irDJesbnert in lOTr risk collective investments. APttKwh there is a primary ot4'ective of ino)me rolum, the tnjstees recognise the Importan of caprtal growih. Therefore rf the income genèrdtion is aclieving targeted levels. the truslees wll lo lo capital grovth assèts lo pr8serve the longevily of the charity and avoid buikl up of laFge 3h erves. Réseryes policy The Iruslees feel that Ihe Gty should maintw'n a prudent level of reserdes of £30.000 in crder to be able lo react lo reqlS for grants. At 5 April 2025. the chartty held negative free re5eNes of £26.622 (2024: £19,456). This is currently below the reseNes poky of the charty but the comrnilments to the Lincoln College are over a four year period and to the Artisan Setr1 over a one month period ¥th no ffixed payment dates. This allows for Investment income lo be generated and wkEre ne investments lo be Tealised to fau&tate commitments. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is conlrolled by Its goveming thument. a deed of trust signed on 23 May 2016 and wnslitules an UnincorFaIed charity. ReGNitment and appolnlment of n•w trustee5 New Iruslees wlll be appointed by Ihe existt.ro trustees of the thafity based on Ihe expertise that they will offer lo the board. The trustÉès regularty review the skill sets of the board and there there is a need for certain skills to b8 added wlll approach appropriate candirlates to join the board. The governing document deSCrleS thè eligitmlty for trusteeship and new trustee appllcatlon to the board 11 be reviewed in line with these requirements. Organlsatlonal strucbjre The charty is govemed by tt's Board of Trustees decide cn the ovwall running and governan of the tharity. The board meel on a quartedy basis lo review matter5 facmg tha charity Mth dlSIonS he9 taken based on an o¥erall majority- Induth'on and tralnlng of new trustees All Trustee8 receive reference malerial from the ChaTity Commission bsite. Specific items relating lo Ihè Charity are discussed as a Board in the Trustee meetings. Risk rnanagement The truslees have a ijuty to identty a1 revwi the risks lo which the charity 15 exposed and to ensuTr apprcpnattt controls are in place lo provide reasonable assurance against fraLKI and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 1169993 Prfnclpal address Clo Sllls aThJ Betteridge 8c4icitors Aqui5 House 1&28 C18sketgate Llncol LIn1nshire LN2 1JN K Dukes N Curtis R Bus8ell K A O'V*ara Page 2
fortho Ygar Ended 5 ri12025 REFERENCE AND ADMINISTRATIVE DETAILS Investment managgr CanacC(d Genuty WeaRh Mwagemert Appr y order oflhe board of trustees crt 17 September 2025 and signed its behall by. K A O'Meara- Tnjstee Pagfr 3
Inde ndent Exami ort to thg Trustses of Barbarn Curtls Charltabla T Independent oxamlnerfs report to the trustees of The Barbara Curtis Charitable TTUSt l fftport lo the charity Irustees rry exafftination of the acu)unts of The B8rt)ata Cutlis Chariiable Trust (the Trust) for Ihe year ended 5 Apnl 2IY25. Rosponsibilitles and basls of report As the ch8rty trustees of the Tnjst yiyj are fespw51b for the prqwation of Ihe 8rxounts in accordance with the requirements of the Charities Act 2011 fft Acr). I report in fespect of my examinati of the Trusl's aco)unts carried oul der secb.on 145 ofthe Act and In carrying out my eXaMinatn I have follod all applicable th"rectiws gtven by the Charity Crmmission under Section 145(5)Ib) of Ihe Act. Indep¢ndenl examlnefs ststement I have c(ynFleted my examination. I confinn that no rnaterial matters have ccrfne to my attention in conrtiOn wth the examination giving me cause to belleve Ihal in any material respecL" counting reoJr(Ss were not kept respect ofthe Trust as requiTed by slI0n 130 of the Ad,. or the acrx>unts do not ac(¥rd vA1h those records", or Ihe accounts do )t comply with the applicable requirements concemin9 the f(Km and content of ac(x)unls Set out in the Charrttes (ArUntS and Reports) Regulations 2008 other than any requlrement Ihat the acGWnt5 give a true and fair vkw vthich is not a malter c0Tr5iderEd as part of an independent examination. I have no COnM$ and have come aosS no other mattets in connection wrth Ihe examinatFon lo attention should be drawn in this report in rKdÈr to enable a protw urKJ&starKllng of the %counts lo be reached. Paul Colcomb FCCA Wright Vwar Limiled ChartÈr8d Accounlants & Business Adwsers 15 NeInd LirKoln lincolnshirè LN1 1XG 17 September 202S Page 4
ent of FInla1 Acbvit for 2025 UnreGtricted fvnd 2024 Total funds Nol•s INCOME AND ENDOVIMEPITS FROIA IrNestment incorne 28.498 24.613 EXPENDrruRE ON RaIng fmds 5.911 3.752 Charitable actlvltlos r8aries 19.180 14,7 Total 31,691 20.777 Net gainsl(h)sses) on investments {2.127) 19.679 NET INCOMEIIEXPENDITURE) (7,320) 23.515 RECONCILIATION OF FUNDS Total fimds brought forward 559.986 536.471 TOTAL FUNDS CARRIED FORYIARD 559,986 notes fomi part ofth8s• financial SlatenrtS Paga 5
rbara Curtts Charitablg Tnt Balance Sheet 2025 Unrestri¢t¢d fund 2024 Total funds FIXED ASSETS Inveslmenls 579.288 579,442 CURRENT AsseTS Debtors Cash at bank 6.466 32.410 24.993 24.993 38.876 CREDrroRS Amounts falling due wilhin we year {51.615) (58.332) NET CURRENT ASS5 {26.622) (19.456) TOTAL Assgfs LESS CURRENT LIABILrnES 559.986 ASSETS 552.666 559.986 FUNDS Unrestricted funds 552.666 559,986 TOTL FUNDS 552.866 s59.8 The fjnancyal siatement5 werg approved by the Board of TnJ5tÈ8S 2rKI authorised for Ie on 17 September 2025 Bnd were siyned on its behaw by. K h 0Tr1ea RPI.T[ Tha rKJt8s forni part of th•se financial Staiements Page 6
bIeTt fkn8 to the Flnan Yortho Ygar Ended ACCOUNTING POUCIES Basls ef preparing Ihe finan¢lal Statmts The ffin•nclal ststements the tharity. which is a puL entity undor FRS 102, have bean prepared In accordanc• vlth th8 Charities SORP (FR$ 102) 'ACn11nll anrl Rewting by Ch8rilies: Slatemenl or Recommended Praclice aleAle to Gharilies wep¥ing Iheir attnts In ad¢9 with the Financi81 Rewting Starthrd appli(aè4e in the UK and Rewtlic of Ireland IFRS 102) {effective 1 January 2019),. Finaftaal Repoiting Slandard 11Y2 Tr FinarKial R8porkng Slanéard applicable in Ihe UK and Republic of Ireland, and the CharitieG A¢t 2011. The fin¢181 stat8ments have been ptppared th8 th18tol Gosl conventkjn, wlth the excèptAin af Investrfitnis which are induded al market Ydlue. The charity is arT uniruirpor8t8d trust operBliJg in Eland ar Wales. Deta15 regarthg the addrcss of the rity are sh(wi vtrn Ihe Refjere and Adrninistralion soction d the Trusl8es Report. In¢om• Al Inttme Is rec¢)gnlsed In Ihe Statemnt of Flnandal Acb'vities ctsity has entemeTrt to the fuThJ4 it 18 probable trt1he be r8ceived and the amount be measurod tetiabiy. Expendltwe blitie5 are recwised as 0Xp11Ure 88 stn as there 1$ a lega or cMstnJctfve obligation o)mrn1tti the charity lo that expeNJrturt. it is prob8bl8 Ihat a transfu of econ1¢ bènefits will bo required in setuement and the amwnt ef the obl¥4On can be measured relwbly. ExpwNlitUfe is accounted for on an acauals Wis and has been classlfied urter PadirKJ& that agJTegate all $t rdatod lo tho t3legNy, Where nn0t be ditwthy attrthled lo partcular h&Adings they have been allocated lo acli¥ities a bèsis con$i5tent with the use Grwts offered suLFd to conditions vrtmch have rN)I been mel at end date are nokd 0$ a commitrnenl bul not accrued as eynditure. Taxatlon The charfty L8 exempl from tax ts tharable aclivitie5. Fund accountlng Unrestricted furKls (xn be used in accord8n( with the tharitable obie¢kn at the dlsuelon of the trustees. Restricted funds can only be used fLY partIlar reslricted purrmises within Ihe obp of the chaty. RestrtiOnS aritie specfrfièd by Ihe donor or lund$ a raised for partrJJlar StrIOd wrposes. Further eWanali(ffi ofthe rthre 4nd pU05e ofeach fund is indudèd in Ihe notes to th• financial ststemerlts. InvestmLta InvestmlS ar8 ori9inalty rewgnised al their lransXft cost and g08nty Mered at their fair valu8 at ttR balarkc• Sheet dats uslrbg tho qLKJt8d m8rket The 51at8rn8rt of finarwl &Sivities ind•Jde$ nBt gainB and losses ari6ing revalu81KJn and disposals throug)ullhe year. INVESThEKf INCOUE 2025 21r24 Investmant InMe 28.498 24.813 P•Je 7 'nuvl..
Tho Barbara C11¥ C aritablo Trust Notes to the Financi Staternénts - contlnued for tho Yéar Ended 5 ri12025 RAISING FUNDS Investsb7ent management Costs 2025 2024 PtfoliO rnanagCnt 5.911 3,752 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remunoron or 011 benefits for the yr ended 5 Apfll 2025 nor for the year ended 5 April 2024. TN8tegs' expens¢s There were no trustees, experL4es paid hythe arended 5 April 25 norfor Ihe year ended 5 Aprfl 2024. HXED ASSET INVESTMENTS CanaccoNI Inveslmonts Ana sis of movÈmÈnts on Investments in the e Market Yalue at 6 Aptl 2024 Investrnents puthed in year Dlsposal of investments in year Other cash mffliements Unrealised gainsl(losses) in value Realised gainl Ooss) on disposa 579,442 73,099 {102,288) 31.162 (5,05D) 2.923 Market Value at 5 April 2025 579,288 Anal Is offund com Cash Listed investments nat5A 41,572 537,718 579.288 DEBTORS., AMOUIITS FALLING DUE WITHIN ONE YER 2025 2024 Olher debtors 6.466 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 oth ffedito 51.615 58.332 Pag8 8 )ntinued...
Tho Barbara C the Flrmnclal Slatemt for the Year E . TrIlnu 2025 MOVEMENT IN FLIIIOS At 6.4.24 in fvnds 5.4.25 General fvnd (7,320) 552.6 TOTAL FUNDS (7,320) 552,666 Net movement wi funds. Ind in the above as folltyv&" IrKx4niThJ Gawis Ioss85 Movement in fund8 Unrestrlcted funds GerEral fvnd 28.498 (31,691) (2.127) (7,320) TOTAL FUNDS (31,691) (2.127) (7,320) ComparatlvoB for movement in At 8.4.23 in funds 5.4.24 General fund 536,471 23,515 559,986 TOTAL FUNDS 536,471 23.515 559,988 Comparatnie net movèm)t in funds. inckKlad in th& above are ag folkms: IrKximing Resourc Gth5 and Movement in funds Unre5trf¢tad funds Gengral furrfl 24,813 (20.77n 19.679 23,515 TOTAL FUNDS 24,613 (20,Tm 19.679 23,515 RELATED PA DISCLOSURES TPre were no related P*tytransaclkm$ for IIK yoar aled 5 April 2025. Page g
Thè Barbara CurtlB Charitabl8 Trust Oelailed S tement of FlnanG for Ihe Year Ended 5 A 25 2025 2024 INCOME AND ENDOWIIENTS Investrnent income Inveslment income 26.498 24.613 Total incoming re50Ut¢e8 26.498 24.613 EXPENDITURE Investment management costs Portfollo management 5,911 3.752 Charitablo activities Grant8 to Individuals 19.180 14,700 Support costs Govemance ¢osts Independent examinatK)n fee Accountancy Website cosls 2,033 3.308 1.259 2,325 2,325 Total resources expended 31,691 20.Th7 Net (expendi¢ureylncom¢ befr•rn galn6 and (5.193) 3.83e R•alised recognisèd gains and losses Reallsed gaiThsl(losse6) on fixed ass81 investrnenls 2,923 (1 D,293} Net expgndilur• 12,270) IS,45n This page does fm p¥t ofthe 5tatulryy finèntl81 slatements Pa9e 10