Registered Charity No. 1172933 Company No. CE009923 THE WILLIAM BARROWS CHARITY A Charitable Incorporated Organisation FINANCIAL STATEMENTS AND TRUSTEES. REPORT For the Year Ended 31 December 2024 THE WILLIAM BARROW'S CHARITY INDEX Charity Infoimation Report of the Trustees Auditorfs Report Statemenl of Finanaal Activities (SOFA) 10 Balan￿ Sheet Notes to the Financial Statements THE ￿LLIAm BARROWS CHARITY CHARITY INFORMATION YEAR ENDED 31 DECEMBER 2024 Official Natne The William Ba￿0￿5 Charity rated Charities Cgmmission: Registered number: Companies House: Registered numtEr. clo Clerk to the Trustees. 43 Park Road. Sittingbourne. Kent. A Charitable Inco anisation 1172933 CE009923 Address ME10 1DY Trus s Names Mr. S.C. Batt (Chair of Trustees) Mr. G.A. Wetherdl (VI￿ Chair of Trustees) Alderman D. Devrar-whalley Mr. R.P.R. Dixo Mr. E.G. t)oubleday Mrs. J. Fairbrass Mr& C. Ford - retired 0310712024 Mr. G. Hertjert Fr. R.D. Lane - rets.red 0410512024 Mr. J. Mair Mrs. C. Middleton - appointed 1011012024 Cmpted Trustees - by apwintrnent (Nos. 9) Brachers Somerfield House. 59, London Road, Maidstone. Kent ed Tustees al Advisers ME16 8JH Inde ndent UHY Hacker Young Chartered Accountants Thames House, Roman Square, Sittingboume, Kent ME10 4BJ Bankers Handelsbanken Suite 5. 2nd Floor North. Fitted Rigging House. The Historic Dockyard, Chatham, Kent ME4 4TZ Page 1 THE WILLIAM BARROWS CHARITY REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and the financial staternents of the charrtable incorporated organi5ation (CIO) for the year ended 31 December 2024. The Trustees confirm that the report and financial statements of the CIO comply with the current statutory requirements. the requirements of the CIO'S goveming document and the provisions of the Charrties SORP (FRS 102). In preparing the financial statements the Trustees have considered the Charity Commissioners, guidan￿ on public benefit. The Charity ￿ exempt from the requirement to produ￿ a slalement of cash flov the Char 1} The relief of persons, in particular but not exclusively, resident in the Parochial Parish of Borden who are in need. hardship or distress, in particular those aged sixty years or more. by . a. making grants of money to them" OT b. providing or paying for goods, services or faciliti.es for them, or c. making grants of money to other peisons or bodies who provide goods. services or facilities to those in need. 2) To advance the education of persons under the age of ttventy-five who are in need of financial assistance and are resident in the Parochial Parish of Borden, by_. a. offering support to local schools that is not provided by stalutory authorih-es. and b. awarding scholarships, bursaries and sitnilar awards to those going into terliary education. Constitution of the Chari The Charity is incorporated as a Chai itable Incorporated Organisatton. with the foundation document being iegistered by the Charity Commtrssion on 09 May 2017. Public benefil The Trustees have ensured that all activities Ihroughout the year have been in the interest of public benefit. This is evidenced by the contribution made to the public totalling £190.820. The Trustees confirm that they have referred to the guidance contained in the Charty Commission's general guidance on public benefit when reviewing the Charity's aitns and objects.ves and in planning future acb"vities. Grants.. Relief of rsons Grants were made during the period to assist 12 persons, being 7 pensioners.3 disabled persons and two hardship cases. all resident in the Parochial Parish of Borden. Financial assistance was also provided to: the Parochial Parish of Borden: St Peter and St Paul for their use of the Forge lo provide community facilities benefitb'ng the iesidents of the Parochial Parish of Borden. the Borden Fete Committee. Sittingbourne Hockey Club Grants. Educabon and local schools Grants were made to 27 students attending College and University to assist wrth living expenses. Grants were also made to Borden Church of Ertgland Primary School and Borden Grammar School. The Charity has not made any grant commitments of more than one year. Investments The Charity maintained investments in agricultural land and commercial and residents'al property, and purchased land at Hammonds and Gooselands: New Romney. Saint Mary in the Marsh. Romney Marsh, Kent and numbers 9,11 and 13 Platinum Way, Borden. Sittingboume, Kent. 1. The Streel, Borden, Sittingbourne, Kent was sold during the year. The Charity continued to hold Its investments in the financial markets. Page 2 THE WILLIAM BARROWS CHARITY REPORT OF THE TRUSTEES - continued YEAR ENDED 31 DECEMBER 2024 Financial Review The Trustees review the financial situation on a quarterly basis. They are satisfied V+ryth the level of income achieved in the period. It may be noted that Tolal Funds as at 31 December 2024 are £11,797,050 and that Total Funds as at 31 December 2023 were £11,458.733, recognising an increase in Total Funds of £338,317. It is the Trustees, policy to ensure that reserves are sufficient to meet all of the Charity's financial obligations for the forcseeable future. They are of the opinion that the reserves of £11.797,050 as stated in the accounts are more than adequate to meet this criteria. nisational Structuie The Trustees held five general meetings during the year. There were also several Su￿}mmIttee meetings, with sub- Committees authorised to deal with detailed matters as necessary. The Trustees keep their skill requirements under review. and in the event of the permanent retirement of a trustee, recommendations for replacement ale accepted from existing Irustees. In this way the Tiustees can be confident Ihat only persons wth the required skills are considered. on￿ appointed new Trustees attend the next quarterly meeting. where they are briefed on their duties and reS￿nsibIlities, and are given a brief OLrtline of the history and background of the Charity. They are given a copy of the Charity Cornmission guidan￿ 'The Essential Trustee: What you need to kno￿,, and encouraged to visit the Charity Commission VbEbsite. Risk Mana enl Thè Trustees have considered the major risks to ￿lch the Charity is exposed and have reviewed those risks and estabSished systems and procedures to manage those risks. The Trustees are of the opinion that the Charity's exposure to credit risk is very limited. as rental income is spread over a number of properties, residential. agricultural and commercial. They are also of the opinion that the Charity has adequate cash resources to m￿t all short-term financial demands. In order to minimise market risk, the Twstees have delegated management of the Chattvs 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 reserves in income funds are more than adequate to meet the Charity's likely level of expenditure for the foreseeable future, aiid are actively consdering altemative means of applying these reserves whilst maintaining the objects of the Charity. The law applicable to charities in England and Wales requires the Twstees to prepare financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best Practi￿ and.. select suitable accounting policies and then apply them con5iStently', observe the methods and pnnciples of the Charslies SORP (FRS102) make judgements and estimates Ihat are reasonable and prudent". - state whether applicable UK accounting standards (FRS102) have b*n followed subject to any departures disclosed and explained in the financial statements; and prepare the financial statements on the going cOn￿M basis unless it is inappropriate to presuma that the Charity wll continue in operation. Page 3 THE WI LIAM BARROW ARITY REPORT OF THE TRUSTEES - continued 1 DECE 24 Trustees, res nsibilities in relation to the financial statements- ntinued The Trustees are responsible for keeping proper accL)unting records which disclose with reasonable accuracy the financial wsition of the Charity and )thich 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 goveming scheme. The Trustees are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities Auditor UHY Hacker Young has expressed its wiflingness to continue as audttors to the Charity. Approved by the Trustees on the 17th day of July 2025 and signed on their behalf by: {Trustee) Signed.. . (Trustee) Page 4 INDEPENDENT AUDITORS REPORT TO THE WILLIAM BARROWS CHARITY FOR THE YEAR ENDED 31 DECEMBER 2024 Opinion We have audited the financial statements of The William Barrovls Chatity (the 'Charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activib'es. the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Y.ingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Stand2r(l applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice}- The financial statements have been prepared in accordan￿ with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of RecoTnmended Pracbce issued on 1 April 2005 which is referred to in the exiant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting practi￿ effective for reporting periods beginning on or after 1 January 2015. In our opinion. the financial statements= give a true and fail view of the stale of the Chartys affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended- have been properly prepared in accordance wrth United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordan￿ with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Atjditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are ftjrther described in the Auditors, responsibilities for the audit of the rinancial statements section of our ieport. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Charity in accordan￿ wrth the ethical requirements 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. Conclusions rElated togokng concern In auditing the financial statements. have concluded that the TfUStees' use of the going concem basis of accounting in tho preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any rnater￿1 uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to contintje as a going concem for a period of at least twelve months from when th& financial statements are authorised for issue. Our responsibilities and the responsikn"lities of the Trustees wth respect to going concem are described in Ihe relevant sections of this reporL Other information The Trustees are responsible for the other information. The other inforrnation comprises the information included in the Annual Report, other than the financial statements and our auditors, report thereon. Oui 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 assuran￿ conclusion thereon. Our responsibility is to read the other inforrnaiion 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 matenally misstated If we Identify such material inconsisten-ies or apparent material misstatements, we are required to determine whetherthere is a malertal misstatement in the financial statements or a material misstatement of the other information. If. based on the work we have perfomed. we conclude that there is a material misstatement of this other information, we are required to ￿port that fact. We have nothing to report in this regard. Page 5 INDEPENDENT AUDITORS REPORt TO THE WILLIAM BARROWS CHARITY- continued FOR THE YEAR ENDED 31 DECEMBER 2024 Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports} Regulations 2008 requires us to repotl to you if, in OUT opinion- the information given in the Trustees, report is inconsistent in any material respect with the financial statements-, or sufficient accounling records have not been kept,. or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of Trustees As explained more fLI Ily in the Trustees, responsibilities statement. the Trustees are responsible for the preparation of the financial staternents 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 thal are free from material misstalement, whether due to fraud or error. In preparing the financial statements. the Trustees are reswnsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem 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 AuditOJ5' Responsibilities for the audit of the financial Statements We have been appc)inted as auditor ijnder section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 Auditors. report that includes our opinion. Reasonable assuran￿ 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 materi21 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. Irregulanties. including fraud, are instances of non-complian￿ 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.. Non compliance with laLVS and regulations Based on.. our understanding of the charity and the sector in which il operates: discussion with management and those charged with governance: and obtaining an understanding of the charity's policies and procedures regarding compliance with laws and regulations- we considered the significant laws and regulations to be the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102), the Charities SORP (FRS 102), the Charities Act 2011. and UK tax legislation. The charity is also SLJbJect to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be the Data Protech'on Act 2018 and the Bribery Act 2010. Page 6 INDEPENDENT AUDITORS REPORT TO THE WILLIAM BARROWS CHARITY - continued FOR THE YEAR ENDED 31 DECEMBER 2024 Our procedures in respect of the above included: review of the financial statement disclosures and agreeing to supporting documentation; review of minutes of meetings of those charged with governan￿ for any instance of non