Reg18tored Charlty No. 1172933 Company No. CEO09923 THE WILLIMI BARROWS CHARITY A Charitablè Incorporated Organisation FINANCIAL STATEMENTSMID TRUSTEES, REPORT For tho Yoar Endgd 31 D•¢ember2023
THE WILLIAM ROW INDFX Charfty Infomatton Ret oflhe Trustees Audltorfs Rew# Statemgnl of Fiar101 A¢tiviti6s (SOFA) 10 Balance Sheet Notes lo the Financial Siatem&nts
THE WILLIAM BARROWS CHARITY CHARITY INFORMATION YEAR ENDED 31 DECE118ER 20fd Offioal Name T Wllffjam Baff(1 Charity Ch&lVes Commlssh)n: Registsr•J number. 1172933 Compant8s Hotw: Registered number. CE(MWYJ clo Clerk to Tn{89$. 43 Park Rc*d. STthngbourne, Kent. A Charitab18 In1 isalion ME10 1DY Mr. S.C. Batt (Chatr of Trustee3) Mr. GA. wether Chair crf Trustees) dennan D. Dewar-whalley Mr. R.P.K Doxon Mr. E.G. DoulAoday Mrs. C. Fc Mr. G. Hetbert Fr. R.D. Lane- resigned 04105r2024 Mr. J. Mair Ms. J. F8irbrass- appointed 2010212023 Ex-officio Twstsg- The Wicar of Bordèn (No.1)- Fr. R.D. Lane c0ptad TN5tees- byappoinbmont (kn. 9) Brachgts Som$fflokl Houso 59. London Road Maid$lone Trusta8s Names Inted T ste88 Le I AthLsers ME16 8JH Inde nd6nt ditors JADAudil Ltd Ch8rtgred AG(x)untants 4, BloorB Lane, Rainham. Gillingham. Kent ME8 7EG Bankers Handelsbanken Suite 5. 2nd Floor North, Fltted Rigging House. The HisloTiC Dockyard, Chatham, Kgnt ME4 4TZ Pago 1
THE VVILLW BARRoYfs CHARrrY REPORT OF THE TRVSTEES YEAR ENDEO 31 DECEMBER 2023 The Trustees present thelr report and the finanGial statsments ol the charitable incory)OTalgd organisalion {CIO) for the yew end&J 31 Dmbar 2023. The Trustoes confim that the rèport and financiaf slatments of the CIO MElYW1th the current statutory requiremonls, the r4uirwnènts ofthe CI¢ys goveming thumenl and the provisions of the ClrflIeS SORP IFRS 1021. In pparing thefinancial st818rn9nts th8 Tnjstoss hAva nsldered the Charity CommissK)n8rs' guidance on public ben&fiL Tttè Charity 45 exempt from the reqjjiremenl to produce a statement of cash lknvs. ects of the Cha ' 11 The rplief of wsorts. in parbcular but not exdLtsivdy, resident in the Parochial Parish of Borden are in need. hardship or dlstress. irb particular It)ose aged sixty years or More, by: a. Fnaking grants of mon8yto them", or b. provtding or p8y(ng for goods, swvlces or facillli&8 forthem, or c. makin9 grants of money lo other persor or bodles wlx) provkle goods, focdlti08 to those rn need. 2) To advanc¢ the education of persons utwjer Ihe agg of who are In need of finan(ial assfst8nC8 and are res¥Jent in th¢ Parochlal Parlsh of Borden. by: offering support to bcal schooLs Ihal Is provided by ststtrtw aulhorities, and b.. awarding schotarshlps. burwies and simllarawards lo th0$0 going into terbary edLt¢ation. Constrtution of the Chari The Charty is irwrporated a Charitable In(wr8ted Org8nisation, th the foundafion document being regisiered by the Ch8rity Commission on 09 May 2017. Public benef41 Th& Trustees have ensur&4 that all acti11&8 throughout the ye8r have bean in int8r8St of publlc benefiL This is evldene4d by the contribuiion mJ8 lo the public totslling £150.997. The Trnstees confimi Ihal they hava rèferred to the guidance contalned In the Cherity Commission's general guldance wbtic benefit wh8n reviewF thp Charivs aims and objectives and In planning fututs actv/ties. Grants.. Relief of ewns Grants wor8 mth during the period to assist 18 pgrsons. resident In the Parochial Parish ol Borden. Financial asslstance was also provided to.. the Parochial Pallsh of Boiden.. St Peter and St Paul for thelr use of the Forge lo pmmde communmy facililies benefitbng the residents of the Paro¢hial Palish of Borden. the Borden Fèts Committeè. Grants.. Education and local sCtsxS Grants wére made to 24 students altending Collog8 anij Universty to asslst wlth Itving expenses. Grants were also made to Borden Chur¢h of England Primary School. Borden Grammar School and We511ands Acalemy. The Ch8rity has not made any grant comfftilments ol more than one year. Investsi)ents Thg Charity maintained investments in agrIcUra1 land and commercial and residential property. ar purchased the sits of the Garejen of England Crematorium. Bobbing. Slttingboume. The c[ to the Trnstees has been instructed to look at the purchase of some addl¢ional residen'al inveslments at the Wises Lane dovelopmgnt, Bo8. Th¥ Charity also rè-investgd in th8 financiql markets. Page 2
THE YIILLIAM BARROWS CHARITY REPORT OF TrIE TRUSTEES- conllnued YEAR ENDED 31 DECEMBER 2023 Financial Review The Trustegs review the financial situation on a qu¥terly bags. They are satlsfled with the levei of income achieved in Ihe period. It may be noted that Tolal Funds as at 31 December 2023 are £11,458,733 and that Total Funds as at 31 De¢emt¢r 2022 %%ere £ll.746.S. recogni81rty a fall in Total Fuftds of £287,272. tt is the Trustees. policy to 8nsure that reswves are sufficient to meet all of the Charity's finanoal olgatIonS for the foregeeable future. They are of the OnIOn that the reserves of £1 T,458,733 as stated in the accryjnts are more than ad4uate to meet this criteria. Or anisational Struclure The Trustees held fiv• gfrnèral méetings in person during Ihe year. There wEre also wgral 8ub-committee meetings. 1th sU¢0mMItte$ authorised to deal Mrilh detailed matters a5 necessary. The incumbent at Borden Parish Church (Vicar of Borden) is an ex-officio trustee. The Trustees keep thar 5kn11 reqU1MentS under review, and in the event of the pemianenl rellrement of a trustee, recommendth.ons for replacement are a¢¢epted ITOM existing trustees. In this way the Tru8tees be o)nfident that only r$onS the Tequired skills are considered. Once app)inled new Trustees attend the next quarteily meeting, ele they are briefed on their duties and reSnSibIlItIes, and are given a bn.ef ouline of the history and background of the ChaTity. They are given a wy cf the Charity Commissi)n gdance'The Essential Trustee: What you need to know,, and eneouraged to visit the Charity Commission wete. Risk Mana ment The Trustees have considered ts major risk5 to bthich the Charity is exposed and have revIeW those risks and estatlished systems and procedures lo manage those risk The Trustees are of the opinion that the Charity's exw5ure to credit risk is very limited. as rental incomè is spread over a numbw of properties. residential. agricL¢llural and commercial. They a also of the optnion that the Charity has adequate cash resour lo meet all short-tem financial demands. In order lo minirnise market risk. the Trustees have delegated management of the Charity's financial investments to a firm of financial investment managers. and have carefully considered the level of risk they consider appropriate to the Charity's needs. The Trustees are aware that resetves in income funds are more than adequate lo meet the Chaiity's like5y level ol expendilure foT the foreseeable future. and are tIVe]Y considering altemative mean5 of applying these reserves whilsl malntsining the oty'ects of the Charity. Tnjstees, res nybilities in relation to the financial ststemenls The law applicable to charities in England and Wal8s requires the Trustees lo prepare fir5ancial slalements for each financial year 1¢h give a true and fair view of the Charity's financial tiVItIeS during thÈ year of its financial Position at the end of the period. In weparsng financial slaternenls giving a true and fair view, the Tnjstees should follow IRst practice and.. ¥elecl suitsble accounting policies and then apply them COnstentIy', makejudgernents ancl estlmates ihai are rea80nable ana prutsnl" - stale whether 811¢81e aCcountig standards and statements of recommertded practice have been foll(MEd, subiecl to any dgpartures disdc6ed and explained in the financial statemen. 8nd prepare the fin4ncid slalemenls on the going concem basis unless rt is inappropriate to presume that the Charity will continue in operation. Page 3
THE VIILLIAM BARROWS CHARITY REPORT OF ThE TRUSTEES. contlnuod YEAR ENDED 31 DECEMBER 2023 Trustees. r8S nsilxlrlies in f9181 n to the firrdnclAI stslemanls- continL The TnJ5tegs are r85ponsib18 for keethtvJ accoLting records which dlsdose with raasonatle accLFracy th6 financial posrfion of the Charity which en8t40 them to erisura tt1 the financial statements comptywilh the Charioes A¢1 2011. the Charity {Accovnts and Reports) RulatiOnS and the proMsionE of th$ goveming sceme. The Trustoes are responsibl8 for safeguardrng the asseis of ihe Charrty arvj hence for taking reas(able steps for the Fwovention and deleclion of fraud and othèr irwul8fitk?s. JADAudil Llmlled has expre8sed ts willingness to continug as auditS to ts Charity. ApprDved by th8 Trusteos on the 18th d8y of Juty 2024 and signgd on Ihelr behalf by. stgn .. ITntsts8 Signed... - (Trust) Page4
DITORS.
EPO
TO THE TR
OR
ES OF THE MLUAM BARROWS CHARITY
NDED 31 DECEM
R 2023
YEAR
Oplnlon
We have atte the fin8nryal Statements ofTh8 Willram 8aTroWs Charty, 8 CharitstrAe
Incorporated Orgartisaln, Ithe'charity) ft)rthe year erHl8d 31 December 2023 which cornprise
the statemant of financial athibes, the bakncfj sheel, and notes to tt)e financial statements.
including a summary of $lgr)fficant accxxjnting polide& The financlal r6tKNting framework that
has been appli8d in th8ir preparation 1$ applicable law and Unilwj Kingdom Accountlng
standards, including Financlal Reporting Stsntlord 102 Th8 Financlal Rewthng St8nLlard
8ppllcable in the UKand Rgwtslic of Ireland Iunited ltirylom GeneraItyAcPte
AUDITORS. REPORT TO THE TRUSTEES OF THE WILLIAM BARROWS CHARITY- contlnu•d FOR THE YEAR ENDED 31 DECEMBER 2023 Olher Infonnatlon- Mnllnued In conneclion wth our audr( of the fiTraal statements, our r8sponsibility is to read the olher infomjation and, in doirwJ so. consider whether the other thation is mBteri8lly in¢onststenl with the fvTrancr41 slalements or our knowledge obtained in the audit or othewse appears to ba materially misstated. if we identify such material inconsistenciès OT apparent material misstatsments. we are required to detarmine whether Ih8re is ? Mateal mk8statem$nt in the financial statements oi a material misst&tsment ol the other knfom)ation. If, based on the vuk have perfom7ed, Conc that there is a material mtsslatem8nt of this other infrJrmatioTr. we are raquired to report that fa. We have nothing to report in Ihis regard. Matters on whl¢h w• are rèquSrÈd to report by exegptlon We have nothing lo retjort in respectof the following matter8 in relation to fhe CharTlies lAcnts and Reports) Regulalions 2008 reqtjire us to report to you rf, in our opinion.. the informalicn grn in thè finanGral statements is Inconsistent in any material re5peet wdh the Trusteg5' reDort or sufficlent a(tsuntino record$ ha not been k8Pt: or the financial statsments are not in aareamènt with the aco)untino record5'. Of we have not received the inforniaiton and gXDlanations we r8atJire forour audit ResponslblJlt1•5 of Trusts¢¥ Ag explalned more fully in Ihe TnJ5tee$' resiK•nslbifilte5 Statement set out C pages 3 and 4. Ihg Trustees reswnslble for the preparation of financial statements and for bglNJ satisfied that Ih8y glve a true and fair vigw, and for such inlem81 control as the Tn(stees detrnine Is ne¢es8ary to anable tha preparation of financial statemenls that are free from rnalerial mis8tatsment. whethor due to fraurj or ertor. In preparing the financial Statements, the Trustees are resp(1b1e f( assèssing Ihe Charitys abillty io contlnue as a yoing concem, disdosing, As aFWrcabl8, matters lated to gOiThJ concern and using the going corTrcern basis of accountiThJ unless tha Trust8¥s eilhet intend to liquidate the Charrty or to cease oper8tion$, or have realistic alternative but lo do so. Auditors. r•sponsibilitio5 for Ihe audlt èf the financial sta¢èm•nts We hav8 appointed a$ auditor under seclion 14401 Ihe Charih&s Act 2011 and repcrft in accordance with the AGI and relevant r8gulaJons made or having èffecl thereunder. Our obi6ctNes are to obtain aSOnable a55urance about vknather the financial statemonts as whole ar8 frèe fr(n materkil misstatem8nt, whether clue to fraud or error, and lo issue an auditors, report that includes our opinion. Reasonable aSsur8n is a high levgl of assurance. but is not a guarantee that an 8udil conduct8d tn accord8nce wth ISAS (UK) WHI afvays detect a material misslalement whan il oxj5ts. Misstat8mants can ari58 trom frautt or error and are considered material if, tndividually or in the aggregate, th8y could reasonabty be expected to In[enCe the gconCn deasions of usgrs taken on the basis of thesa financial stat•m&nts. Irregularittes, induding fraud. are Instances of nonqcompliance with lathE and regulatior. We deSn proc&lures in line with our responsibiltlies. ouuined abov6. to detect material mLsststernents in respect of irregiJlaYiti"os. including fraud. The extent to oui procedures are capable of detectirrfJ irr6gu18rtbes, includirlg fraud is detailed below. Page 6
AUDITORV REPORT TO ThE TRUSTEES OF THE WILLIAM BARROWS CHARrrY. eonllnu•d FOR THE YEAR ENDED 31 DECEMBER 2023 Capablllty of the wdit in dot•ctlng Irr•9ularltl•s, Inclu¢fMg fraud The oblectiv of audiiare to identifyand assess the risks of materlal m&slalement of the financial ststemÈnts due to fraud or errcr. lo oblain Suffic1 apwprFgte audit evidence regarding the assessed risks of material MisStatet to fraud cf error and to respond apwf4xiaW to ttEose rfjsks. Based on our UndetandIng of the Charity and th& ¢haiitsbJe sector ggnoralty. and through discussion with the tnJsteg9 artd other managemonl {?s required byauditing standards), we identlfied the principal iisk$ of non-complia with laws and regufations and we considèred the extent to bvhrch norComlance mrghl have a material effed on the finanual ststements. We also considBred those laws and regulalKns that have a dlrect Impact on the pr8paration of the financial statements such as Ihe Charfty SORP 2019 other charity legislation. We remalnÈd 810rt to any indkxtions of non¢ompliance throughoutthe aud We 8150 evaluated Tw$te, an¢J managem8nfs incenlivos and opportL•)iIK8$ for fvaudLkFrt manlpulation of the financial statem8nts (inedIng the risk of overrid6 of ¢ontrol8). Audtt precedurgs pgrformed bythe engagement team indudod". Discussions with management and Tntstees and asse&wnenl of knovm or $u5pe¢ted inslanw of non-compliance vrith laws and wulations 8nd fraud" and Perfomilng analyb(¥l PedUreS to rdentifyany unu$ual or unexpe¢tod reblionships that may Indtrate rtsks of matsrlal mlsst8tement due tofraud" aThJ Review of significant and UllUSLHI tran$acltrM8 and gvafuation of the unrlgrly¥w financial rationole survorting the transactions. Tkn aro inherant Fimitations in the audlt procedures described above and, the fvrth6r removed comlanCe w&th laws and regulations is from the events trans8ctions Telded In thg financral statements. the less18ty we would become aware ofiL As part of an audrt in aco)rdancè wth Ishs {UK}. ex01e professthal judgent and malntain professional ¥cepticism throughout the audlt. We also: l&ntify and assaÈ$ the risks tsf material mOsstat8ment of the financial statements. vthether due to fraud or error. design and perform audit procedures r8sponsive lo th08e risks, and obtain audlt idenc8 that is sufflU1 and approprtale lo prowd¢ a basis for our opinion. The rtsk of detecting a material misstatement resulb'ng from fraud Is hlgheT than for one results'w from error. as fraud may involvts coNusion. forgery. Inten11al omisslons, mlsrepresentatsons, or the overrhye of intèmal control. Obtaln an under3tandlro of Intemal crmtroF relevant to th8 audit in cfder lo design audit prc¢8dure8 that are appropr¢ate in Ihe circumstsnce$. bul not for Ihe purpose of expressing an opinion ol the effeclw8ness ofthe CharfW8 intomal control. Page 7
AUrORs. REPORT TO THE TRIJSTEES OF THE WILLIAIA BARROWS CHARITY- contlnuad FOR ThE YEAR ENDED 31 DECEMBER 2023 Capablllty of Ih audlt In detlIng irrngulariti•& Includlng fraud- contlnu•d Ev8luate th& aFyroprlness of accounting pte8 Us{ and the reasonaNen8ss of aCuntIng stimates and relatad disclosures mado bythe Twstees. Conclud8 on the appropriateness of th8 Truslees. Ltse of the going ¢CCeM basis of aci#)unting and, based on the audlt evrdence obtained, whèlher a material uncertainty exists relatgd to events or nditions that may cast sn[Can1 doubt on thè Ch8rrtys abllj'tyto continue as a golng concern. If we cOndLe that a material un¢ertalntyexlsts, are required to draw altentK•n in cvrA(Klrtorfs report to th8 relatad dithures in finan¢ial statements or, rf such disdosures we in8d8quat8, to mc4Jrfy our opinion. Our conclus1($ are bas&J on the audit 6vidence obtalned up to thè dale of our ALKlltorts repDrt. H¢MYgr, fulure events or c¥vHlllins may cause thg Ch8rity to cease to as a goéng concern. Evaluate ihe Ov&11 pr8sgntolion. struclure and wntent of the fin8nrial ststements. includlng Ihe disdosure8. and wheEh8r the finartaal statanents represenl the underfng transactions and events in a manner that aehieves fair presentati. We COEnmunicate Wlh those charged with govemancè regarding. among other maltors. the planTr8d scope and timing of the audtt and signifKant audit findings. including any s¥nfficant deficiences in intemal (x)ntrol that we idenlify durlng fyJraLKJit. Uso of our r•port This report ts mèd8 sojgty to the ChaWs Tnjstees, as a body, in cdanCe with Part 4 of the Charities IAco)unts and Reports) Regulations 2008. Our audll work has been undgrtaken so that we might slate lo the Chorrtys Trustees those matters we are required ts stats to them in an auLIKors' report and for no other purpose. To the ftmlest extent permitte(J by law. we do not accept or assump responsibifity to aryone other than the Charity and the Charitys Tnjstees as body. lor (wr audit wcrf(. for this rep)n. orfoT th8 oplnicffts we ha fomipd. JADAudit Lfmited is elwjibfe for aptJ)intment as auditor of Ihe Charity by rtue of its eligibilityfor appointment as auditor of a Gompany under sech.on 1212 of the Companies Act 21)06. Wendy Draper FCA Iseniorstatutory Audrtor) For and on hair of JADAudFt Limit Ch8rt8red Acccwntants and R6glStered AJitor 4. Bloors Lsne, Rainham, GS11iThJham Kent ME8 7EG Date..
THE ows STATEIAENT OF FINANCIAL OR HE YEAR E DED TIES EC ER Unwe5trfrted Restrlctsd Incomt Income Fund Totsl Total Funds Fund6 JIIW2023 3yW2022 Endowment Fund Income Rents and other propety tn¢ome receivabje Investment income 3 244.660 4 102,681 244.66D t02.6Bf 254.183 Total 347,341 347,341 276.231 endllU¥E Chorltoble activitie5 Educalional grants Clause 3{212 ScFvxl grants Clause 3(2)b Indlvtthd grants Hardship gran15 Cl8us6 3(1la Grents to penslow5 Clausg 311la Grants to younger 60.326 4&000 60.326 40,000 49,450 35.395 35.395 HS50 Clau8e 311k Grants to b)die Governan costs 7.276 36.744 1.1]00 7.842 4138 7,276 36.744 187.741 Costof raislngfunds Propety managèment incdI repaiTS and professw)rkal costs PrDpety con5ullancycosts Invesb))ènl management )Sts 187,741 194980 168,400 168AOO 109,480 941,746 5.955 1222 Ttstal 356,141 5,222 361.363 1,Z52.161 Net income/fexpenditure) before investn7ent gains/(losses} {8.8001 15.222) (14.022) 1975.930) Surpjuslldeficill on ¢Jisposal ol investmentslwithdyawal Surp1}(deficlt) on r6valuation of inStMents SurplL4slldefKJII on disposal of property Surplusl{d•ft¢itl on r¢valuation of prop¢rty {12.1301 {12.130) (136,$58) 14.834 14834 7.937 7,937 132.446 1283,891) (283,891) 185.000 Net goins/(lossesJ on investments (273.250} P71250 180.888 Net m0vent Infvnd5 18.800} 1278.4721 (2872n) 1795,0421 25,000 10.796,625 11.746.IJ05 11541,047 25.000 10,518,153 11rtw733 11,746.005 Totsl Funds at 01 January 2023 924,380 Totsl Fund5 at 31 DeCemr 2023 915,580 Page g
THE MLLIMI BARROWS CHARITY BALANCE SHEEr FOR ENDED 31 EC 20 2023 Flxed Assèts Investment properties Invfrslments Nota 2022 8,451.758 497,482 6.235.000 Current Assets Cash at bank Debtors 8.949.240 6.235.000 2,550.843 23,608 10 S,152,107 422,319 Credltols * amounts fallng due witrjin one yoar 2.574.451 5,574.426 164,9581 {63.4211 Neteuwt assets 2,509.493 5.511,005 TotalN8tAs$9ts 12 11.458,733 11.746.th)5 of Unrestn'cled Incomè Fund Restricted Income Fund Endowment Fund 1J 74 15 915,580 25.000 10,518,153 924.380 25,000 10,796,625 rotslFunds 11.458,733 11,746.005 The Trustees acknedgÈ th&ir Tesp¥)nslblllb'es for CompJn9 with the r8qulrements of the Charities Act 2011. and the Charity (AccntS and Reports) Regulatior6 with resF)ect to accountirw recdS and the preparalron of financial statèments. )prod by the Board of Trustees on 181h July 2024 and slgned on its behalf by. Twstee Trustee Pag• 10
THE WILLIAM &4RROWS CHARITY NOTES TO FINANCIAL STATEIAEpirs FOR THE YEAR ENDED 31 DECEMBER 2023 1 AGcountlng pollcl88 The finanryal statements have been PFepargJ under the histortcal cost (x)nvention with the exwion of investments arml investmenl prwies bthi¢h are stated at market value. The finan(aal statements are prepared in acxordaKe 8ffJlicable &countihg standard4 the Chorities Statement of Recommended practi FRS102 IAc¢ounting and Reporting by chlties} and comply wilh th& provIon¥ of the Charits"es Act 2011. The financial statamènts prfjpar the going conrn basis as the trustees belleve trot the charity has income and reseNes Suificient kn ensure conDnuity. b Investrnent irorne is recorded receipt is probable and the amunt rl¥able c be measured reliably. Rental inwme is r&>xded vknen payment is dug in accordance ith the lea8e or rental ayreement Expenditure on grants is reGorded once the Charity has made an uncondltional commltsnent to pay the grant and this is (x4nmunicated to the beneficiary. or the grant has been paid. bthichever is the earfier. d Other exFeNliture is Included in the financlal SlateM c) an aeeruals basl • The c4)st of managlng ts Investm8rrtg and Investmant Is ¢hgrged to unrestrlcleA Ineomo funds. Any c4Jsts asgxiated with the sale or purchase of investments or investment properties are acCnted for as part of the sale or purd)ase price of the investments. f Qut)bJ investments and investment propeth'es are vaiued at market value at the ba sheet d. Investrnent properties a nol depwated. Unrealised and realis8d investment and investment property gains and Ios5e5 a net in the Statement of Financial Activities (SOFAI. h Unrestricted inccffl& fuThJs ale funds which are available lor at the diretIOn of the Tru8tees in furtherarKe oflhe general objectives of the Charity arKI lch have not been dgnated for olher purposes. En(h)vThnent furKIs comprise exper¥Yable endowments, whereby there is no UIreMent to spend the re8erves unless. or until the Trustees decide to do so. This fund is invested to Produ unrestricted income vthich can be spent in ac¢ordance wth the charitaile objective& Restricted funds are fund$ wthich have be given to the Charity for use * the discrelion of the Truslees bul in &cotdan¢o th the expressed wshos of the th)nor. i The financlal staemenls (Jo not Inc1L a c£sh flow statement because the Charity as a reporting entity, is exempt from the requirement to prepare such a sL*ement under under the Charlties stalement of ROrnMended Practi FRS102 (A¢untIng and Rep)rting by Charities). 2 Taxatlon Being a registered charity, the Charity is exempt from taxation ils income and gains whefe they are applied for tharitable purposes. The Charity 18 a public benefit entity. 3 Rents and oth•r prop•rty Incomo receivable 2023 House aTrJ c• rents Fann and cornmer¢i81 rents Wayleaves 205,410 38,811 439 225,464 28,110 244.680 254,183 Pagè 11
THE VVILLIAM BARR NOTES T ws THE FI CIA STAT MENTS eontlnu FOR THE EN D 31 DECEAIBER 20 4 InStMan1 income 2023 2022 Listed investments Bank interest Other interest 12,130 88, 14,758 7.29) 102.681 S Charftable actlvrtle9 Educational grants were made to followng instituLion5.' £20,OOD (2022.. £20,(N)o) to Borden Grammar School. £20.32612022'. £20.000} to 81)rd C of E Primary sch[, and £20.OCK)12022'. £Nil) to Westlands Ac&Jemy . Grants in a[rdCe trI object 1 Icl of the Charrty's constitution made lo followtng instrtullons vtho provlde gLxxls, services or facilities to t)Se in need.. 2023 Parochial Parlsh of B¢)rilen Borden Fete Committee Demelza Hospice Care for Children 7,0 278 7,000 742 100 7.276 7.842 6 Govomaneo costs 2023 Totsl Funds 2022 Totsl Funds Iorne Fund ErKlowment Fund Clerk's salary BarTOW Rrn expenses Accountancy fees Audttors, fee Pfofèssional fees eb hosting Publiealson costs SurKJry extEnses 21,600 1,408 4,180 6,010 3.104 518 21,600 1.408 4,180 6.010 3.104 518 19,2(M) 1.572 3,800 5.90D 1,140 518 (52) 176} 36,744 36,744 32,138 e ol the trustees have been paid any r8muneration, no trustee expenses have been incurred. 7 Auditors. remunerallon 2023 2022 Fees payable to the Gharily's audilor arHI its asscciates for the audit of the Charity's annual finan31 statements 6.010 s.9) Paye 12
THE MLLIAM BARROWS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMB R 2023 ontinued 8 Investnwnt properti Unrestricted Income Fuftd End0ent Fund 2023 Totai Valuation at 01 January 2023 Additions at cost RevaluatiLm deficit in year 6.235.CJXI 2,500,649 1283,8911 6,235,000 2,500.649 (283.8911 Valuabon at 31 ernb 2023 8,451,758 8.451,758 On 01 October 2017, the freehold invemenl properties transferred from the William Barrovls Charity (No. 3075741 at a market valuation of £6,4,000. The investment property w)rtrolro was rtrvalued at 31 December 2019 by the Clerf( to the Tnjstees. Mr S. Mair. a member of the Royal Inslitution of Chartered SuTveyoT¥, a Registered Valuer and a partner In the firm of George Webb Finn LLP.The revaluation vras ¢arried out in acEordance wlh the RICS Valuation - Global Standards 2017 incorporating the IVSC Inteinalional Standard, tcKJelher with the Valuation Standard4 Guidance Notes and AP[diS therein. The purpose of the valualion was to provide a current value foT inclu¥ion in the financial statements to 31 December 2019. The valuation at 31 December 2019 carries fcward into these fina181 statemenls bul has been amended for identified changes in market value of specific properties in the inleTim period. The revaluation includes £250.OLK) in respect of agricultural propety vknich has been revalued to reflect development )11?1. The agricultural value of the Property concemed is possibly £155,000 less than the valUatiC included in these financial statemen15. The valu8tion also irKludes £250.000 in respect of'The Forge" %thich is a difficult ptoperty to valuè. Since 2019 revaluation. the Charity has sold some investment property for develowent. 9 Inveslments 2023 2022 Endowment Fund 01 January, at valuation. Disp05als at valuation Amount invested.. Handelsbanken Inrne Plus Multi Asset Fund C Income Growth Charges Amount withdra 976.614 1976,6141 500.000 14,834 15,2221 112,1301 31 December, at valuation 497,482 The Charity sold its investment wrtfolio in 2022, bul reenlereil tho financial market$ in 2023. 10 Debtors 2023 2022 Prepayments and accruJ irkcome 23,608 422,319 11 CTedttors 2023 2022 Accruals defetyed income Tenants, deposits 44,137 20,821 44,571 18,850 Page 13 64,958 63.421
THE WWAM BARROWS CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 contlnued 12 Anatysl8 of fund assets and Il•blliti•s UnrestrKted Restlted Incom Incom8 Fund Fund 2023 Total Funds 2022 Total Funds Endowmerbt Fund Investment propertEs Investments Cash at bank Debtors Crediiors 8,451,758 8,451,758 497,482 497,482 1,568,913 2,550.843 23.608 {64,9581 6,235.000 956.930 23.608 {64.9581 25,000 5,152,107 422,319 163.4211 915.580 25,000 10,518.153 11.458.733 11,746,(J)5 13 Unre8trl¢tsd In¢omo Fund Unrestr1¢ Incotne Fund 2023 Unrestricte(I Income Fund 2022 Al 01 January Net income aftgr Marernent and governan costs Charitsble eypendrture SurplusllDeficitl on dpoSal of investments 924,380 142.197 1150.997) 1,015,288 128,658 1162.8421 156.7241 At 31 December 915,580 924,380 14 R05tricted Income Fund The restricted income fund ccfflprises monies donated lo the Charty lo be used for educational purposes partlar In relalDn lo the pupils of the Borden Chur¢h of England Primary School. 15 Endowment Fund Endowment Fund 2023 Endowment Fund 2022 At 01 Janu?ry {Deficill on finanGial investment account Surplu{DefltI on disposal of propety IDeficrtllSL5rplus on revaluation of Propety 10,7*,625 {2,5181 7.937 1283.8911 11,500,759 179,8341 1809,3001 185,000 Al 31 Oecemb8r 10,518,153 10,798,625 The defKrt on disposal ol property 2022 is the surplus recogni5ed on page 9 being £132.446, reduced to refleol the property consultancy costs of £941,746. Page14
THE MLLIAM BARROWS CHARITY NOTES TO THE FINANCIAL sfATEMENTS continuod FOR THE YEAR ENDED 31 DECEMBER 2023 16 Transactlons Yélth conn•ct8d porgon$ Mr S. Mair, M.R.l.C.S., F.A.A.V.. M.R.A.C. as well as being C18rk to the Trust is also a partner in thè firm of George Webb Finn, land agents and suweyors are instructed on a professional basls and at arms length to deal Trmth vanous matters appertaining to the Charity's property and mnt collection activities. In addition to the Clerk's salary of £21,60012022.. £19,200) the follo%%ing fees we payable to George Webb Finn". £43.764 {22.. £45,183) receFvers fee for instructing and overseeing rents e1Ved and other property receipts and instructing arKI overseeing propety repair8. and £6,250 (2022.. £11,280) for clher matters including negociating the sale of property. At 31 December 2023 the outstanding amount due from the Charity to George Webb Finn £16, 144 {2022. £9,784) All amounts quoled are irKlusive of Value Added Tax, lch the Charity cannot recover. The Chaity did not m*e any reirnbursements during the FeriLNJ to Trustaes for exFenses incurred. DurirvJ the year, thè Charity purchased The Garden of England Crematorium. Bobbing from Mr. S.C. Batt for £2,471.758. All due processes re observed, legally and WFlh the Charities Commission. Page 16
THE WILL BARROW'S CHARITY INCOME AIID EXP NDITURE A cov FOR THE 14D 31 ECEMB 2023 31 D*¢embor 2023 31 De¢•mber 2022 RECEIPTS EARNED FROM ASSETS RENTAL INCOME House and cottage rènts Farm and other reTrt5 wa989 205.410 38.811 439 225,464 28.110 244.660 Les¥ Olr¢¢t Property gxwThkn:. In8uran¢e prèmium Agent and suryeyor8 fees Propety Repairs.. Riddles Farmhouse Riddl8$ Cottage Batrow House and Forgè House 3. The Street 1, The Street 9, Mayfam Gartjens 37, MaMAm Gardgns S1, maarn Gardens 53, Maylam Gaid8ns 75, maam Gardens 77, Maam Gardens 8, Russèll Close 267, Park Road Rose Cottage Land at Apple frge Ccétage Land at Ygw Tree Cottage Land 81 Riddles The Forge Flat 1, Forge House Flat 2, Forge House Flat 1. Barrow House Flat 2, Bairow House Rat 1. 118 High Stre Flat 3. 118 High Street 1161118, Hvjh Street 254,183 10.880 43,764 11.122 41.643 11,001 14.048 25,645 615 1,168 239 347 833 2,734 7,833 4.171 6.513 261 465 2,138 303 685 427 6.755 7.758 621 5.036 9D2 22,388 239 3.162 500 350 1.980 2,438 311 13061 919 15,589 257 1.098 786 154 7.026 163 3,182 {168,4011 (109.480) TOTAL NET PROPERTY INCOME- cairled forward 76.259 144,703 Thls pag9 is for the TrusteÈ$' Inlorn)ation only P16
THE WILLIAM BARROWS CHARITY INCOME AND EXPENDITURE ACCOUNT ntlnu•d THEY 31 December 2023 31 December2022 RECEIPTS EARNED FROII ASSEfs . ¢ontlnuod TOTAL NEf PROPERTY INCOME- brought forward INVESTfy1EKf WCOME DNfdends from Invesknents Bank Deposit account intere51 Oth•r Ir&st 76259 144.703 12.130 88,965 1,585 14.758 7.155 135 102.680 22.048 Investment manager8 fees (5.955) NEf INVESTMEKf INCOME 102.680 16.093 TOTAL MET INGOME 178,940 160.796 Less: Management and Admln15tratlon Ckrf('s 8alary Barrow Room expertses ACCntancY fees AudKofs fee InSWan brokers fee Otr prof85sN)nal foes Bank charg88 Sundry Web hostiThJ Book net {incOmeySis .600 1,408 4,180 6,010 19,200 1.572 3,800 5,900 2264 60 (1} 518 518 {$21 (36.7441 {32.138) CHARITfs INCOb1E FOR THE YEAR £ 142.195 £ 128,658 This page Is for the Ttees. Infom)ation only Page 17