REGISTERED CHARITY NUMBER.. 1182709 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 1024 FOR THE EDWARD BARNSLEY EDUCATIONAL TRU Lewis Brownlee (chichter) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex P020 7EQ
THE EDWARD BARNSLEY EDUCATIONAL TRusr CONTENTS OFTHE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the TrLf5tees Independent Examiner's Report Statement of Flnancial Activitie5 Balance Sheet Note5 to the Fsnancial Statement5 8 to 15
THE EDWARD BARNSLEY EDUCATIONAL TRusr REPORTOFTHE TRuEEs FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their rep)rt with the financlal staternents of the charity for the year ended 31 Dmber 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommend practi Bpplicable to charities preparlng their accounts in accc}rdan with the Finandal Reporting Standard applioble in the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191. OBJEcllvES AND ACTIvrriES Objectives and aims The Charily's objects are.. To assist persons who are in need of financial assistan and who are preparlng for, entering upon or engaged in the crdft of handmade furniture making by providing them with tools, outfits or by paySng fees, travelling or rnaintenance expenses or by such olher means for their advancetnent in lifo to enable them to earn their living as the trustecs see fit; To preserve and rnaintain for the pU1C bonefit the Edward Barnsiey Archive,. In otherwise promoting the education and training of such persons. The Edward 6arnsley Educational Trust achicvos its charitable objetts by tralning apprenti flne furniture makers and provlding the mcans for them to improve thelr skills. The Workshop Coltage is the headquarters of the Trust housit¥J the administration, archive and showroom. In planning our activilies for the year we kept in mind the Chariws Commission's guidan on publlc benefrt. We ensure that the skills In fine furniture making are passod on In the traditional manner from experienced maker to apprenti and preserved for future generations whon they might othcrwise be lost. It is important to the Trust that accL%S to the educational opportunities offered are not restricted to those who can afford to pay fees. As an adjuntt, Ihere are nurncrous trnining opportunitles available elsowhere in this country, but they vlrtually all incur substantial fee5. Our intake criteria for appront1C are based entirely upon tslent and potential with no discriminatlon on Ihe grounds of race, colour, ethnicity, gcnder, sexual oriontstion or religion. The Trust Seeks to extend its training opportunities by offering work experience placos to children from local schix>ls and colleges. It is inevitsbl¢ that wrsons trained by Iho Trust will have enhanced earning5 capacity, obviously to their private benefit. This however is unavoidable because of Ihe rarity of trainlng opportunibes which then results in relatively few persons with high skill levels. We compile a photographic datsbase to cOmpMent our existing archive and this will ensure straight forward identification of our furniture in the future. The charity's main ob]octlves for the year wore to.. Provide facilities and tining OPFQrtunities for those wSshing to develop thelr career in fine furnlture making. Secure sufficient funding to help finance the cost ol apprenti training. Promote the worf( of the Trust to secure commissions and to attract talented 3pprentices. The thèrity's stratcgies for achicving those objLttives were to.. Approach gtsnt making trusts and other fund providers with a vaow to securing financial support for the Trust's èctivilies. Encourage and highlighi charitable glving through legary Income. sal of fumiture. Signlllcant attivities that contrlbuted to the achlevement of these objectives and provKSing publ benefit were.. ApprentIShIp schemo; Fce paying tralning courv; Work exporience,. Educational publicity, tal, guided tour5, exhlbltlons and publications,. Securing and fulfilling comrnissions which play a pivotal role in.. Providing Income., Enhancing the training of apprentice5 by keeping thc workshop's output relevant i.e., by providing furniture that clients nettd and want; Producing stlmulating and cxciting IgnS, aiding promotion of the Trusts acbvities. Page I
THE EDWARD BARNSLEY EDUCATIONAL TFiUST REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMEKf AND PERFORMANCE Charitable activities During tho year the Trust ernployed three apprentices, one craltsmen, a crafi'sman-tutorlfundraisor and a Designer Manager. The Trust was assisted by three volunteers who helpcd with our Open Day events in the year. During the year the Trust cmployed four apprenticos, I0 crattsmcn, a craftsman-tutorifundrai5e.r and a Designer Manager. Wo also awardod a short intemship to Molody Jam£,t a West Dcan student. Thc Trust was èssistod by three volunteors who helped with our Open Day events in the year. The Trust has secufftd grants 01 £32,626 during Ihe year towards tho charity's overall objects of apprentice training. Grant funding carne from Iho following.. Barbara Whatmore Trust, Carpenters Cornpany, Charlotie Bonham-carter Ct, D'oyly Carte cr, Gordon Frasor Cf, Sue Powell (Olwen and Edwin Powell Award), Mikado Trust, The NL'wby Trust and Radcliffe Tiust. The trustees are of the oplnion that the Trust hès met its objectives in rtstEct of providing training during the past year. The Trust has for several years been working on a major bulldlng expansion prograrnme. 2024 saw the completion of a new building exten5i0n which has addcd over 124m2 of additional working Spa. This new space mainly houscs our woodworking machinery, and tho oxpansivo size facilitates a huge improvement in our working arL'a and efficiency. We have also added a now extraction system to serve Ihe now machincry layout. Tho new building is a major event in thc workshop's history, as the last tnajor building extcnsion was built when eloctrlcity arrived in Cock5hotr Lane in the 1950,5. Throughout the year tho workshop hosted organiscd tour5. Wo wcre vlsited by grou from Bedales School, Moulton College, Midhurst U3A, The Building Craft Collcgc, Robinson House Schoo1, The Furniture Makers livery company, West Dean Q>llege, Eton Collcgc, Thc Fumlture School and John Lloyd Furniture School. The workshop dIgner James Ryan gave a talk to the Decorativo Arts Soaety In London During the year we launched a now branding identity, BARNSLEY WORKSHOP, coupled with now logo and style. We also invcstcd in 0 markoting attivities, website search optimi5ation and a sccial media programme. We t(K>k part for the second time in the Treasure Houso Fair in Chel*a in lune. The fair was woll attended, and our work was reiVed very woll, We a150 held two of our popular Workshop Opcn Saturdays Sn April and November. The Trust se& the promotion of it5 activltle5 to the publlc as an important part of its educational objcctNes. We scek to achieve this by participabng In exhlbiUons, hostlng open days, tours, by using social media channels and tho Trust website. FINANCIAL REVIEW Principal funding sources In the year undor revwi incomlng reswrccs totallci F221,283. The deficit on training and furniture rnaking activities before contributions from supporters and charitab10 loundatlons amounted to £8,507. Grants for apprentico training totalled E32,626. The charity's prinopal funding sources are Ihc prod$ from salos of furniture rnade during the training of apprentice5, together with donations from individuals and organisations. Reserves policy As at 31 Dember 2024, the level ol rcsor¢os available for the charitys use (1.0. in general funds and not represented by fixed assetsl was £441,775. The trustoes considcr that the charity nceds to hold rcseNes in ordcr to miligate the risks whith affoct its income stM5, in particular thc unpredictability of grant and Icgacy incomo and the long lead timo for major commissions. Such fftserves will allow the charity to honour its one yoar commitment to its dppfftntiS and to retain key staff during temporary fluctuations in income. The trustoos consider that the charity should airn to achieve unfft5tricted general reserves equivalent to one year's expendltuie from unrestritted funds (approximately £250,000 cashl in order to safoguard tho ongoing dolivcry of its objects. Pago 2
THE EDWARD BARNSLEY Et>UCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FUTURE PLANS The Trust acknowledges the lack of training opportunities and the shortage o15killed craftsmen within t1 fine furniture trade. To thSs end the Trusl Snlonds to conlinuo Ils initialive of ollering Iwo l-year foundation apprenticeships rather than the traditional single place. This has proved successful, and the Trust intends to continue to offer two l-year placements In 2025. Much wlll depend on the availability of granls, the annual cost to the Trust of equipping, training and supporting a traincc are in exSS of £25,000, which will nood lo bc mot. Lt should be notod that tho intention is to offor the foUratIOn apprentices Ihe optlon to extend their training for a further year if sufficient grant income is gencrated. The trust has r£feived notificatn of a legacy as a residual beneficrdry. Dependont upon the executors the Trust may T4Ve me funds during the 2025 accounting period. With Lho new building now complete Lhe Trust is con%dering a programme of future plans to ensure the future sustalnability of tho Trust activit1. STRUCTURE, GOVERNANCE AND MANAGEMENT Governrng document Having reIVed professional advice the Truslees docldcd to set up a Charitable Incorwratcd Organisation (CIO), registered numbor Iir42709. This tyro of charity offers certain advantages over the previous charitable structure. The trustecs transferred all asscts and Iiabilitios of the Edward Barnsley Educational Trust, regi5tercd number 279514, to the new CIO effective 1st lanuary 2020. The Edward Barn0¥ Educational Trust is a registcred charity constituted as a Charitable Incorporated Oryanisation undor a trust docd datcd 2019. The charlty Is controlkQ by a trM)ard of trustLEs whose mornbors are olccted by the trustees for the time bang atting by majority. Recruitment and appointmont of n¢w trusteos Now trustccs aro solocted on tho ba%is ol the contribution that they will make to tho governance of the organisatton and the skills that thoy will contributo. They aro Provided with copic5 01 the Charity Commission's guidance to trusiEes and given an introduction lo the activities ol the charty by thLi existing board. Existing trustres are Frovidcd with tra5ning as and when required. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1182709 Prlncipal address Barnsley Workshop Cockshott Lane Froxfield Fotersfiold Hampshire GU32 IB Page 3
THE EDWARD BARNSLEY EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBEFi 2024 Trustees T Black P Martin MA {RCAI FCSD P Taoor R Mcmahon BA, FCA Ire5igned 511112024} W Jack50n (resigned 291512024) M Cvotkovic Irosigned 511112024) Treasurer Paul Foulkes Independent Examiner Sarah Alexander FCCA FCA Lewis Brownlee IChiche5terl mIted Chartered Accountants Appledram Bams Birdham Road Chichester West Sussex P020 7EQ Bankers National We5ttrinster Bank PLC 4 Hlgh Street Petersfield Hampshire GU32 3JF CCLA InVtrnent Management Llmlted 80 Cheapside London EC2V 6DZ Approved by order of the board of trustees on ....... and signcd on Its bohalf by,. T Black- Trustoe Pagc 4
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE EDWARD BARNSLEY EDUCATIONAL TRUST Independent examinor's report to the trustees of The Edward Barnsley Educational Trust I report to the charity trustees on my examlnation of the accounts of The Edward Barnsley Educational Trust (the Trust) for the year ended 31 Dernber 2024. Responsibilities and basis of report As the charity trustee5 01 the Trust you are responsible for the prepardtK)n of the accounts in accordan with the requirements of the Charities Art 20111 Ihe Act'l. l port in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Dlrections given by the Charity Commission under Section 14515llb) of the Att. Jndependent examiner's Statement I have complcted rny examination. I confirm that no material mattors have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Art. or the accounts do not accord with those records,. or the accounts do not comply with tho applicable requirornents Conrning the form and content of accounts Set out in the Charitios (Accounts and Reports) Rogulationg 2008 other than any requirement that the accounts give a true and fair vW which is not a maiter considercd as part of an independont examination. I have no cOnrn$ and have come across no other rnattors In connection with the examination to which attention shouW be drawn in thls port in order to enable a proper understanding of the accounts to be reached. Sarnh Alexander FCCA FCA Lewis Brownlee (Chichester) knmited Chartered Accounlants Appledram Barns Birdham Road Chlchester Wt Sussex P020 7EQ Date,, 24 July 2024 Page 5
THE EDWARD BARNSLEY EDUCATIONAL TRusr STATEMENT OF FINANCIAL AcrIvrrIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total fund5 Unre5trirted funds Restrirted funds Notes INCOME AND ENt)OWMEMfs FROM Donations and Icgacies 76,412 76,412 104,136 Other tradln9 actItE5 Investtnent income 143,941 930 143,941 930 194,495 6,513 Total 221,283 221,283 305,144 EXPENDrruRE ON Raising funds 152,448 152.448 139,391 Charitable activiknes Raising donations and Icgaci other resou$ expended 4,619 113,857 4,619 113,857 4,041 118,815 Total 270,924 270,924 262,247 Net gains on investments 17,598 17,598 17,349 NET INCOMEI(EXPENDrruRE) Transfers between funds {3I043) 893,235 {32.043) 60,246 14 {893,235) Net movement in funds 861,192 (893,235) (32,043) 60,246 RECONCILIATION OF FUNDS Total funds brought forward 460,221 893,235 1,353,456 1,293,210 TOTAL FUNDS CARRIED FORWARD 1,321,413 1,321,413 1,353,456 The notes form part of these financial staiemcnts Page 6
THE EDWARD BARNSLEY EDUCATIONAL TRusr BALANCE SHEET 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestrirted funds Restrirted funds Notes FIXED ASSETS Tanglble assets Investments 879,638 300,670 879,638 300,670 853,954 303,072 io 1,180,308 1,180,308 1,157,026 CURRENT ASSETS Stocks Debtors Cash at bank and in hand li 12 127,859 49,999 34,056 127,859 49,999 34,056 161,677 35,022 64,418 211,914 211,914 261,117 CREDITORS ounls falling due within one ye3r 13 {70,809) (70,809) 164,687) NET CURRENT ASSETS 141,105 141,105 196,430 TOTAL ASSETS LESS CURRENT LIABILrrIES 1,321N13 1,321,413 1,353,456 NET ASSETS 1,321,413 1,321,413 1,353,456 FUNDS Unrestricted funds Restricted funds 14 1,321,413 460,221 893,235 TOTAL FUNDS 1,321,413 1,353,456 The financlal statemcnls were approved by the Board of Trustees and avthorlsed for issue and were signed on its behalf by.. on T Black- Trustee The notes form part of these financlal statements Page 7
THE EDWARD BARNSLEY EDUCATIONAL TRusr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICXES Basi5 of preparing the financial ststom¢nts The financial statomcnts of Ihe charity, which is a public benefit entty under FRS 102, have ben prepared i accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statoment of Recommended Practice applicable to charitie5 preparing their accounts In accordance with the rnanCIal Reporting Standard applicable in tho UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and thc Charities Act 2011. The financial statements have been prcpared under the historical cost convention, with the exception of investments which are includod at market value, as modlfled by the revaluation of certain assets. Finantlal reportlny standard 102- reduced disclosure exemptions ThL charity has taken advantsge of the lollowing disclosure cxcmption In preparing these finantial staternents, as pertnitted by FRS 102'The Financial Repong Standard applICab in the UK and Republic of Ireland.: the requirements of Section 7 Staicment of Cash Flows. Incomo All income is cognIsed in the Ststement of Financial Activitios once the charity has entitlement to the funds, it is probab that the income will be receivcd and tho amount can be measured reliably. Expenditu Llabilitios are recffjnised as expenditure as 500n as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benelits wi11 be required in settlement and thc amount of the obligatlon can be measured reliably. Expenditure is accountcd for on an accwals basis and has been clalfied under heading5 that aggregate all cost relatcd to Ihc category. Where costs cannot be direcyy attributed to particular headings they have bcon allocatod to activities on a basis COn5iStent with the use of reSoUrs. Governance costs Governan costs comprise the costs associated with tho governan arrangisments of the of the Charity arKJ include indcpcndcnt examiners lees, legal advice lif any) for trustees, cost5 85sociated wilh the constitutional and statutory requirements and any costs associated with the strat{IC as opposed to the day to day mènègement of the Charily's aet5. Tangible fixed assets Depreciation is proVId at the following annual rates in order to write olf each ès5Ct over its "Mated useful Plant and machinery Computer cquipment 15Yo on cost 25Yo on cust All flxed assets costing more than £500 are capitalised. No depreciatlon is proed on freehold land or on buildings, benches and tix)Is as the trustccs consider that the exceptionally long life of these assets renders any depreciation charge or accumulated depreclation irnmaterial. The trustees review any non-depreciatcd a%ets lor impairmont on a regular basis. Stocks Stocks and work in pr(resS are valued at the lower of cost and nct rcalisable valuo, after maklng due allowantr for Oblete and slow moving items. Cost indudes all dirctt expendlture and an approprlate proportion of fixed and variable overheads. Taxation The tharity is exempt from tax on its charitablo activities. Fund actounting Unrestricted fund5 can be used in accordan with the charitable objccives at tho dlscretion of the trustees. Page 8 continued...
THE EDWARD BARNSLEY EDUCATIONAL TRUST NOTES TO THE FINANCIAL sfATEMENTS- contlnued FOR THE YEAR ENDEO 31 DECEMBER 2024 ACCOUNTING POLICIES- continued Fund attounting Restricied funds can only be used for parbcular restrittd purposes within the objects of the charity. Restrictions arise when specified by the (k)nor or when funds are ralsed for particular restrltted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financlal statements. Pension costs and other post-retirement benofits The charity operates a defined contribution p¢n5ion scheme. Contributions payable to the charty's Fension stheme are charged to the Statement of Financial Attivities in the pertod to which they relate. Investments Invostments are stated at their fair value at the balan sheet dale. The Statement of Financial Activities Includes the net gains and losses arising on revaluations and disposals of investment assets throughout the period. DONATIONS AND LEGACIES 2024 2023 DonatKJns Legaci Grants 43.786 36,+H 46,192 21,500 32,626 76,412 104,136 Grants reIVed, Included in the above, are a5 follows.. 2024 2023 Other grants 32,626 21,500 OTHER TRADING AcrivlEs 2024 2023 S41es ol furnlture 143,941 194,495 INVESTMENT INCOME 2024 2023 Deposit account Interest 930 6,513 Page 9 continued...
THE EDWAAD BARNSLEY EDUCATIONAL TRUST NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 RAISING FUNDS other trading artivities 2024 2023 Jrchases staff costs 13,815 138,633 12,834 126,557 152,448 139,391 SUPPORT COSTS Governanco costs Management Finance Totals Raising donations and legacies Other resources expended 4,619 4,619 113,857 111204 1,653 112,204 1,653 4,619 118,476 TRusfEES' REMUNERATION AND BENEFrrs There were no trustees. remuneration or othcr Inefits for the year ended 31 December 2024 nor for the year ended 31 Decembor 2023. Tru5tees' expense5 2024 2023 Trustees, exnSeS 136 51 srAFF cosrs 2024 2023 Wages and salaries Social sccurity costs Other pen51on costs 128,823 5,579 4,231 117,679 4,811 4,067 138,633 126,557 The average monlhly number of employ during the year wa5 as follow5.. 2024 2023 Workshop No ernployees received ernolurnents in exco5s of £60,000. Page 10 conlinued...
THE EDWARD BARNSLEY EDUCATIONAL TRUST NOTES TO THE FJNANCJAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Fixtures and rittings Freohold property Plant and machinery CompLrter equipment Totsls COST At l January 2024 Acldilons 813,814 28,166 139,123 975 16,763 18,222 1.605 987,922 30,746 At 31 tthmber 2024 841,980 140,098 16,763 19,827 1,018,668 DEPRECIATION At l January 2024 Charge for year 118.375 3,418 15,593 1,644 133,968 5,062 At 31 December 2024 121,793 17,237 139.030 NET BOOK VALUE At 31 December 2024 841,980 18,305 16,763 2,590 879,638 At 31 Detrmber 2023 813,814 20,748 16,763 2,629 853,954 io. FIXED ASSET INVESTMENTS Llstod investments MARKET VALUE At l January 2024 Disposals Revalualions 303,072 (20,000) 17,598 At 31 Decernber 2024 300,670 NEf BOOK VALUE At 31 December 2024 300,670 At 31 December 2023 303,072 There were no investment assets outside the UK. Cost or Valuaon at 31 DeCemr 2024 Is represented by.. Listod investments Valuauon in 2024 300,670 Page 11 continued...
THE EDWARD BARNSLEY EDUCATIONAL TRU NOTES TO THE FINANCIAL STATEMENTS- continued FOEiTHE YEAR ENDED 31 DECEMBER 2024 ii. srocKS 2024 2023 rimber work-in-progSS Finished goods 22,477 13,445 91,937 25,377 37,171 99,129 127,859 161,677 12. DEBTORS: AMOUNTS FALLING DUE WThHIN ONE YEAR 2024 2023 Trade debto oth£'r debtors Tax recoverabk VAT 4,457 32,607 8,098 4,837 16,167 565 5,313 12,977 49,999 35,022 13. CREt)ITORS: AMOUNTS FALLING DUE WThHIN ONE YEAR 2024 2023 Trade fftditors Social security and other tsxes other croditors Accruals and deferred income 47,945 3,413 3,132 16,319 45,507 2,386 4,469 12,325 70,809 64,687 14. MOVEMENT IN FUNDS Net movement in funds Transfers between fLEnds At 31112124 At 111124 Unrestrirteil funds Gonoral fund Fixed as*t fund Building and development fund Workshop fund 140,276 119,945 loo,000 loo,000 (26,981) {5,062} 128,480 764.755 241,775 879,638 loo,000 loo,000 460,221 (32,043) 893.235 1,321,413 Restrirted funds Building and development fund Memorial fund 159,227 734,008 (159,227) (734,008) 893,235 (893,235) TOTAL FUNDS 1,353,456 (32,043) 1,321,413 PBge 12 continuod...
THE EDWARD BARNSLEY EDUCATIONAL TRUST NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDEO 31 DECEMBER 2024 14. MOVEMENT IN FUNDS- continued Net movement in funds, included In the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund Fixed asset fund 221,283 (265,862) (5,062) 17,598 (26,981) (5.062) 221,283 (270,924) 17,598 (32,043) TOTAL FUNDS 221,283 (270,924) 17,598 (32,043) Comparatlves for movement in funds Not m()vement in funds Transfers betwoen funds At 31112123 Atlll123 Unrestrirted funds General fund Fixed aet fund Building and development fund Workshop fund 352,616 100,454 loo,000 loo,000 62,562 12,316) (274,9021 21,807 140,276 119,945 loo,000 100,DOO 653,070 60,246 (253,0951 460,221 Restricted funds Building and dovolopment fund Mernorial fund 159,227 480,913 159,227 734,OD8 253,095 640,140 253,095 893,235 TOTAL FUNDS 1,293,210 60,246 1,353,456 Comparative net movetment in funds, Sncluded in the above are as follows.. Incoming resources Kesources expended Gains and losses Movement in funds Unrestricted funds General fund Fixed asset fund 305,144 (259,931) 12,3161 17,349 62,562 (2,3161 305,144 1262,247) 17,349 60,246 TOTAL FUNr>S 305,144 1262,247) 17,349 60,246 Page 13 continued...
THE EDWARD BARNSLEY EDUCATXONAL TRusr NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 14. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers between funds At 31112124 At 111123 Unrestricteij funds (knoral fund Fixed asset fund Building and developrnent fund Workshop fund 352,616 100,454 100,DOO 100,DOO 35,581 {7,3781 1146,4221 786,562 241.775 879,638 100,000 loo,000 653,070 28,203 640,140 1,321,413 Restricted funds Building and development fund Memorial fund 159,227 480,913 1159,2271 1480,9131 640,140 1640,1401 TOTAL FUNDS 1,293,210 28,203 1,321,413 A current year 12 months and prK)r year 12 months combined net movement in funds, includcd in the above are a5 follows.. Incoming resources Resources expended Gains and losses Movement n funds Unrestricted funds neral fund Fixed asset fund 526,427 1525,793 } {7,3781 34,947 35,581 17,3781 526,427 1533,1711 34,947 28,203 TOTAL FUNDS 526,427 1533,171 } 34,947 28,203 Restricted funds Memorial fund - funds raised Specifical for the purchase and renovation of the Edward Barnsley workshop and cottago. Building and Developrnent fund - funds ralscd specifically for the sLrond phase of the project. Deslgnated funds Fixed asset fund- repre*nts the net book value of fixod assets othor that those held in rcstrittod funds. Building and tkvelopment fund - fund set aside by trustees to finance the socond phase of the project. Workshop fund - funds set aside by the trustecs to flnan workshop improvemcnt5 and equipment whlch may be acquired. Transfers between funds The tTrnsfer from the general fund tr) the fix£é asset fund repSeNtS tapitsliscd assets purchased in the year. The transfers from the rnetnoria5 fund and development fund to the general fund was made as a result ol the project being finished and all funds being spent. Page 14 continued...
TNE EDWARD BARNSLEY EDUCATIONAL TRUST NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 15. RELATED PARTY DISCLOSURES There We no related party transactions for the year ended 31 December 2024. Page 15