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2023-06-30-accounts

REGISTERED CHARITY NUMBER: 1182500

Report of the Trustees and Financial Statements for the Year Ended 30 June 2023 for BNA Charitable Incorporated Organisation

Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG

BNA Charitable Incorporated Organisation

Contents of the Financial Statements for the Year Ended 30 June 2023

Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 6
Statement of Financial Activities 7
Balance Sheet 8
Cash Flow Statement 9
Notes to the Cash Flow Statement 10
Notes to the Financial Statements 11 to 16
Detailed Statement of Financial Activities 17

BNA Charitable Incorporated Organisation

Report of the Trustees for the Year Ended 30 June 2023

The trustees present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity as set out in its governing document are to further such charitable purposes as the trustees in their absolute discretion shall think fit of:-

Significant activities

The charity fulfills the objectives through grant-making.

Public benefit

In deciding on the activities of the charity, the trustees have had due regard to the Charity Commission guidance on public benefit.

Grantmaking

Eligibility

The Trustees support registered charities and not for profit charitable organisations and causes throughout the UK. All decisions to award grants are made at the discretion of the trustees.

Following a recent policy review the trustees have decided that they are unable to support the following areas/activities:

Process

The charity receives grant applications through its website and by post if applicants are not able to use the website.

In order to make website applications, applicants are required to create an account on the website. This account will capture contact details of the applicant and its respective organisation. Once logged in the applicant will need to provide further details of its organisation, the activities it undertakes, the level of grant it is applying for and what the grant monies will be used towards. The applications will be assessed at the trustee meetings where financial due diligence is undertaken alongside the application before a decision is made on whether to award the grant.

Applicants are notified shortly after the meeting.

Ongoing Monitoring

The charity undertakes ongoing monitoring of the grants through the requirement of regular reports from the beneficiary. These are reviewed against the initial application.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charity has provided financial assistance for local charities , in particular financing capital projects and has provided two mini buses for charities. In addition the charity has , in some cases, provided ongoing support. There are several proposals to assist local charities , particularly where substantial repairs or refurbishments are required.

Details of the organisations and individuals that the charity has assisted in the period are disclosed in note 6 of the accounts.

Page 1

BNA Charitable Incorporated Organisation

Report of the Trustees for the Year Ended 30 June 2023

ACHIEVEMENT AND PERFORMANCE

Investment performance

During the period the charity received £303,307 (2022: £278,131) from its investments and £46,625 (2022: £4,908) from deposit accounts. The charity paid portfolio management fees of £168,579 (2022: £181,392) in the period.

The capital value of the investments reduced by £242,838 in the period (2022: reduced by £1,137,370).

The trustees review the performance regularly and will review the full annual performance with the investment managers in due course.

FINANCIAL REVIEW

Investment policy and objectives

The charity has set a specific investment policy for its investment managers to adhere to.

The investment objectives are:

Attitude to Risk

The charity relies on the investment return to fund grant making. However, grants are generally one off awards and the number and value of these may vary depending on the circumstances. The key risk to the long term sustainability of the charity is inflation, and the assets should be invested to mitigate this risk over the long term. The trustees understand that this is likely to mean that investment will be concentrated in real assets and the capital value will fluctuate.

The trustees are able to tolerate volatility of the capital value of the charity, as long as the charity is able to meet its short term grant making commitments through either income or liquid assets.

Reserves policy

Although the terms of the constitution give power to distribute capital, the policy of the trustees is to maintain the capital value of the investments in real terms (that is, after inflation).

The balance of the investments at 30 June 2023 stood at £15.8m (2022: £16.2m). In order to keep pace with the Retail Prices Index (RPIX excluding mortgages) the value of this fund would have had to stand at £19m (2022: £17.2m).

The total balance on unrestricted reserves at 30 June 2023 was £17,835,772 (2022: £19,334,811). £15,802,784 (2022: £16,165,881) of this is invested in order to generate income to pay out as grants and £7,012 (2022: £8,086) represents fixed assets. The remaining free reserves of the charity are £2,025,976 (2022: £3,160,844) of which £1,850,130 (2022: £3,103,614) is invested in a 35 day deposit account with the remaining cash reserves of £806,169 (2022: £312,947) and creditors of £630,323 (2022: £255,717).

The cash reserves is considered appropriate given the expected quarterly grants whilst the 35 day deposit account allows for an income return whilst also maintaining liquidity for the charity.

FUTURE PLANS

The charity intends to continue to support local causes in accordance with the objects of the charity and in particular to support capital projects.

The trustees are also actively looking to invest some of the cash held into a suitable property or properties.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The legal form of the charity is that of a Charitable Incorporated Organisation (CIO) which is controlled by its governing document, its constitution dated 15 March 2019.

Page 2

BNA Charitable Incorporated Organisation

Report of the Trustees

for the Year Ended 30 June 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees Process to Appoint Trustees

The procedures for electing or appointing new trustees is set out in section 10 of the constitution:

(1) Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.

Recruiting Trustees

Appointments are made by agreement amongst existing trustees having regard to new trustees having the required expertise and experience.

Organisational structure

The charitable incorporated organisation is constituted under the foundation model where the trustees are its members. The trustees control the running of the charity and meet at least quarterly to review operations.

Induction and training of new trustees

The charity will make available to each new trustee on or before their appointment:

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1182500

Principal address

15 Newland Lincoln LN1 1XG

Trustees

R L J Vigar (former Chairman) (resigned 23.3.23) Mrs S E Fisher

K F Girling H F F Kok P Simpson P A P Doody (Chairman) (appointed 14.4.23)

Auditors

Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG

Solicitors

Adie Pepperdine Limited 3 The Landings Burton Waters Lincoln Lincolnshire LN1 2TU

Page 3

BNA Charitable Incorporated Organisation

Report of the Trustees for the Year Ended 30 June 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Investment Managers

Handelsbanken Wealth and Asset Management No. 1 Kingsway London WC2B 6AN

Mattioli Woods 1 New Walk Place Leicester LE1 6RU

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees 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 and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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.

Approved by order of the board of trustees on 21 December 2023 and signed on its behalf by:

Pat Doody (Dec 21, 2023 11:52 GMT)Pat Doody

P A P Doody - Trustee

Page 4

Report of the Independent Auditors to the Trustees of BNA Charitable Incorporated Organisation

Opinion

We have audited the financial statements of BNA Charitable Incorporated Organisation (the 'charity') for the year ended 30 June 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice).

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 Auditors' 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 Annual Report, other than the financial statements and our Report of the Independent Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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 where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the 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.

Page 5

Report of the Independent Auditors to the Trustees of BNA Charitable Incorporated Organisation

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

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 Report of the Independent Auditors.

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 auditors' 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.

Wright Vigar Limited

Wright Vigar Limited (Dec 21, 2023 13:09 GMT)

Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG

21 December 2023

Page 6

BNA Charitable Incorporated Organisation

Statement of Financial Activities for the Year Ended 30 June 2023

Notes
INCOME AND ENDOWMENTS FROM
Investment income
3
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Grant making
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2023
2022
Unrestricted
Total
fund
funds
£
£
349,932
283,039
168,579
181,392
1,437,554
902,384
-
-
1,606,133
1,083,776
(242,838)
(1,137,370)
(1,499,039)
(1,938,107)
19,334,811
21,272,918
17,835,772
19,334,811

The notes form part of these financial statements

Page 7

BNA Charitable Incorporated Organisation

Balance Sheet

30 June 2023

Notes
FIXED ASSETS
Intangible assets
10
Investments
11
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
13
Unrestricted funds
TOTAL FUNDS		 2023
2022
Unrestricted
Total
fund
funds
£
£
7,012
8,086
15,802,784
16,165,881
15,809,796
16,173,967
2,656,299
3,416,561
(630,323)
(255,717)
2,025,976
3,160,844
17,835,772
19,334,811
17,835,772
19,334,811
17,835,772
19,334,811
17,835,772
19,334,811

The financial statements were approved by the Board of Trustees and authorised for issue on 21 December 2023 and were signed on its behalf by:

Pat Doody (Dec 21, 2023 11:52 GMT)Pat Doody

P A P Doody - Trustee

The notes form part of these financial statements

Page 8

BNA Charitable Incorporated Organisation

Cash Flow Statement
for the Year Ended 30 June 2023
2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 (1,230,453) (916,240)
Net cash used in operating activities (1,230,453) (916,240)
Cash flows from investing activities
Purchase of fixed asset investments - (173,000)
Sale of fixed asset investments 120,259 129,528
Interest received 46,625 4,908
Dividends received 303,307 278,131
Net cash provided by investing activities 470,191 239,567
Change in cash and cash equivalents in
the reporting period (760,262) (676,673)
Cash and cash equivalents at the
beginning of the reporting period 3,416,561 4,093,234
Cash and cash equivalents at the end of
the reporting period 2,656,299 3,416,561

The notes form part of these financial statements

Page 9

BNA Charitable Incorporated Organisation

Notes to the Cash Flow Statement for the Year Ended 30 June 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2023 2022
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (1,499,039) (1,938,107)
Adjustments for:
Depreciation charges 1,074 1,074
Losses on investments 242,838 1,137,370
Interest received (46,625) (4,908)
Dividends received (303,307) (278,131)
Increase in creditors 374,606 166,462
Net cash used in operations (1,230,453) (916,240)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Total		 At 1.7.22
£
3,416,561
3,416,561
3,416,561		 Cash flow
£
(760,262)
(760,262)
(760,262)		 At 30.6.23
£
2,656,299
2,656,299
2,656,299

The notes form part of these financial statements

Page 10

BNA Charitable Incorporated Organisation

Notes to the Financial Statements for the Year Ended 30 June 2023

1. LEGAL STATUS

The charity is a Charitable Incorporated Organisation registered with the Charity Commission of England and Wales. Details of the charity address and activities can be found within the Report of the Trustees.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Website amortisation

The website is amortised over 10 years.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Investments are initially recognised at cost and adjusted to the current market value at the reporting date.

3. INVESTMENT INCOME

INVESTMENT INCOME
Investment income
Deposit account interest		 2023
£
303,307
46,625
349,932		 2022
£
278,131
4,908
283,039

Page 11

continued...

BNA Charitable Incorporated Organisation

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

4. RAISING FUNDS

Investment management costs
Portfolio management
5.
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
6)
£
Grant making
1,429,084
6.
GRANTS PAYABLE
Grant making
The following grants were committed to institutions during the accounting period:
Institutions
Cure Leukaemia
Newark Sea Cadets
Newark Scouts
Macmillan Cancer Support
Engage Hucknall Foodbank
CVQO Ltd
Bridge Church
Pelican Trust
Newark Salvation Army
Go Beyond
Happy Days
Newark Patriotic Fund
The Mustard Tree
Homestart Newark
Cope Childrens Trust
Care After Combat
St Giles Church
Acts Trust
St Marys and St Leonards Church Newark
Newark District Scouts
Dogs Trust
Lincs and Notts Air Ambulance
Lincs and Notts Air Ambulance
Macmillan Cancer Support
Newark District Scouts
Branch and Bloom Gardening
Collingham and District
Acoustic Nations Limited
The Childrens Hospital Sheffield
Cromford Canal
Tonic Health
The Butterfly Hospice Trust
New Life Charity
Lives
Martin Village Hall
South Clifton
RAF Benevolent Fund
Reach Learning Disability
Nottingham Music Service		 2023
£
168,579
Support
costs (see
note 7)
£
8,470
2023
£
1,429,084		 2022
£
181,392
Totals
£
1,437,554
2022
£
894,686
£
25,000
1,512
1,500
1,000
5,000
19,000
10,000
20,000
50,000
1,000
2,500
25,000
500
1,000
38,000
28,615
1,000
4,000
25,000
37,489
50,000
50,000
50,000
50,000
1,500
18,000
25,000
14,200
50,000
3,000
11,000
15,500
10,000
32,000
40,000
5,000
5,000
8,065
10,000

Page 12

continued...

BNA Charitable Incorporated Organisation

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

6. GRANTS PAYABLE - continued

Collingham Rural Advice 3,500
Nottingham Arts Centre 5,000
Shawmind 1,000
The Health Tree Foundation 1,500
Cornwater Evergreens 5,000
Sick Childrens Trust 5,000
Wainman Trust 5,000
Newark Alzheimers Association 5,321
Beaumond House Community 20,000
Crackerjacks 750
Barton Methodist Church 14,000
6th Newark Christchurch Sea Scout 21,976
Wexford HSE 789
Macmillan Cancer Support 1,000
Maggies Nottingham 2,500
NSPCC 2,500
Carers and Dementia Group 7,520
Farndon Cricket Club 20,000
Macmillan Cancer Support 500
Deference Medical Rehab Charity 13,420
Barnby Road Academy 21,578
Defence Medical Rehabilitation 100,000
Lincolnshire and Nottinghamshire Air Ambulance 168,000
Newark RAFA Club 250,000

Grants payable to individuals undertaking sponsored events of behalf of charities totalled £7,250.

7. SUPPORT COSTS

8.

SUPPORT COSTS
Information Human
Finance technology resources
£ £ £
Grant making 123 1,074 340
Governance
Other costs Totals
£ £ £
Grant making 2,168 4,765 8,470
AUDITORS' REMUNERATION
2023 2022
£ £
Fees payable to the charity's auditors for the audit of the charity's financial
statements 2,470 2,470
Auditors' remuneration for non audit work 2,295 2,153

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.

Page 13

continued...

BNA Charitable Incorporated Organisation

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

9. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

The charity paid for trustee train tickets to attend a meeting with Handelsbanken in the year ending 30 June 2023. There were no trustees expenses paid for the year ended 30 June 2022.

10. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
COST
At 1 July 2022 and 30 June 2023
AMORTISATION
At 1 July 2022
Charge for year
At 30 June 2023
NET BOOK VALUE
At 30 June 2023
At 30 June 2022		 Website
£
10,740
2,654
1,074
3,728
7,012
8,086

11.

FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 July 2022
Disposals
Revaluations
At 30 June 2023
NET BOOK VALUE
At 30 June 2023
At 30 June 2022
There were no investment assets outside the UK.
Cost or valuation at 30 June 2023 is represented by:		 Listed
investments
£
16,165,881
(120,259)
(242,838)
15,802,784
15,802,784
16,165,881
Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023
Cost		 Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023
Cost
£ %
Analysis of fund composition at 30 June 2023
Cash 92,936
Global Equities 15,709,848
15,802,784

Page 14

continued...

BNA Charitable Incorporated Organisation

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
349,932
TOTAL FUNDS
349,932
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are
Incoming
resources
£
Unrestricted funds
General fund
283,039
TOTAL FUNDS
283,039		 At 1.7.22
£
19,334,811
19,334,811
Resources
expended
£
(1,606,133)
(1,606,133)
At 1.7.21
£
21,272,918
21,272,918
s follows:
Resources
expended
£
(1,083,776)
(1,083,776)		 2023
£
630,323
Net
movement
in funds
£
(1,499,039)
(1,499,039)
Gains and
losses
£
(242,838)
(242,838)
Net
movement
in funds
£
(1,938,107)
(1,938,107)
Gains and
losses
£
(1,137,370)
(1,137,370)		 2022
£
255,717
At
30.6.23
£
17,835,772
17,835,772
Movement
in funds
£
(1,499,039)
(1,499,039)
At
30.6.22
£
19,334,811
19,334,811
Movement
in funds
£
(1,938,107)
(1,938,107)
a

Page 15

continued...

BNA Charitable Incorporated Organisation

Notes to the Financial Statements - continued for the Year Ended 30 June 2023

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.7.21 in funds 30.6.23
£ £ £
Unrestricted funds
General fund 21,272,918 (3,437,146) 17,835,772
TOTAL FUNDS 21,272,918 (3,437,146) 17,835,772

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
632,971
632,971		 Resources
expended
£
(2,689,909)
(2,689,909)		 Gains and
losses
£
(1,380,208)
(1,380,208)		 Movement
in funds
£
(3,437,146)
(3,437,146)

14. RELATED PARTY DISCLOSURES

During the period, the charity paid grants to an institution of £25,000 in which K Girling is also a Trustee.

During the prior period, the charity paid grants to institutions of £58,500 in which H Kok is also a Trustee.

The trustees were not involved in the decision making process for the grants.

Page 16

BNA Charitable Incorporated Organisation
Detailed Statement of Financial Activities
for the Year Ended 30 June 2023
2023 2022
£ £
INCOME AND ENDOWMENTS
Investment income
Investment income 303,307 278,131
Deposit account interest 46,625 4,908
349,932 283,039
Total incoming resources 349,932 283,039
EXPENDITURE
Investment management costs
Portfolio management 168,579 181,392
Charitable activities
Grants to institutions 1,421,834 887,186
Grants to individuals 7,250 7,500
1,429,084 894,686
Support costs
Finance
Bank charges 123 120
Information technology
Amortisation of website 1,074 1,074
Human resources
Sundries 340 -
Other
Insurance 1,403 1,403
Subscriptions 765 478
2,168 1,881
Governance costs
Auditors' remuneration 2,470 2,470
Auditors' remuneration for non audit work 2,295 2,153
4,765 4,623
Total resources expended 1,606,133 1,083,776
Net expenditure (1,256,201) (800,737)

This page does not form part of the statutory financial statements

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