Charity Registration No. 1183515
BARNT GREEN MEDICAL TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
BARNT GREEN MEDICAL TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr Alan Fletcher Dr Patricia Botha Dr Jeremy Clarkson Mrs Phillippa Holroyd Mrs Janet Manners Charity number 1183515 Registered office Barnt Green Surgery 82 Hewell Road Barnt Green Birmingham B45 8NF
Independant examiner Jerroms Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH
BARNT GREEN MEDICAL TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees' responsibilities | 3 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 10 |
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2021
BARNT GREEN MEDICAL TRUST
The trustees present their annual report and financial statements for the year ended 31 May 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011 and "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
The objectives of Barnt Green Medical Trust is to raise money to be spent to relieve sickness and to preserve the health of the patients of Barnt Green Surgery and other people living within 3 miles of the surgery. This is to be achieved by the provision of or assisting in the provision of equipment, facilities, and services ancillary to those provided by the Surgery and/or statutory authorities. In addition the charity aims to relieve, either generally or individually, patients of Barnt Green Surgery and other people living within 3 miles of the surgery who are sick, convalescent, disabled, handicapped, infirm or are in condition of need, hardship or distress. Grants are awarded in line with the Trust’s policy to ensure compliance with the Trust’s objectives. In particular applicants must outline the efforts undertaken to obtaining support for their request to-date and outline the necessity of their application. Grants are assessed in the context of alternative sources of support that are available. Grants can include those that allow provision for ongoing maintenance and support costs but these are requested at time of application. In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commissions Public Benefit guidance.
Achievements and performance
This report reflects the second year of the Trusts existence and activity. Unfortunately the ongoing COVID-19 pandemic has significantly impacted on the charities activities throughout the year due to ongoing societal restrictions and trustee activities focusing on the immediate response to the pandemic itself. One donation has been received in addition to funds received in response to a gift aid application.
Review of activities
A single application has been considered and awarded by the trustees. A sum of £7 , 456.14 was agreed to be granted to St Andrews Church of England First School. The application was considered and agreed on 24th May 2021 to fully fund the provision of 5 breakfast clubs per week in addition to funding the relevant training of the supervising staff. These breakfast clubs are aimed at delivering a stable, supportive and nurturing environment for pupils identified by the school staff. These pupils may possess a range of potential needs including social and emotional difficulties, friendship issues, attendance issues and issues relating to confidence and anxiety. The Trustees felt the award fulfilled the Trust’s objectives of the relief of individuals in condition of need, hardship and distress. In particular the trustees felt this award would improve both the recognition of and the support for children psychologically impacted by the COVID-19 pandemic. The decision to award this grant was made in line with the Charity Commissions Public Benefit Guidance. Of note the full payment of this award was delayed until 24th September 2021 following on from the trustee seeking additional clarification regarding the costings and a delay to ensure safe payment within term time.
Financial review
The financial statement shows a balance of £72,862.67 inclusive of a £5,000.00 reserve. The Trust has received an income of £26,921.97 consisting of a donation of £1,798.00 from the Partners of Barnt Green Surgery and £25,123.97 as a result of an HMRC Gift Aid application. Fundraising is not performed by the Trust but rather donations are received. The Trust has not had any outgoing costs other than annual accountancy costs. There are no property or rental costs associated with the Trust’s activities. The trustees have determined a working reserve equal to 5% the charities total balance, with a minimum value of £5,000.00 being kept at all times. As revealed in the financial statement the Trusts current assets are in excess of this figure and no current outstanding debts nor commitments exist.
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BARNT GREEN MEDICAL TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
Future plans
The Trust is proactively advertising its activities and has been in discussion with the local Parish Council regarding a possible application regarding the installation of exercise equipment for the local community recreational park. Unfortunately, the ongoing COVID-19 pandemic continues to curtail the Trust’s workings. However the trustees are continuing to try and adapt to expand Trust’s activity.
Structure, governance and management
Barnt Green Medical Trust is a Charitable Incorporated Organisation and was established on 21st May 2019. It is represented by 5 trustees, with a designated Chairperson, Treasurer and Secretary. The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the trust deed. The Trust has met periodically throughout the year on an ad-hoc basis and decisions are made by voting. The Trust has no premises nor property and solely considers applications for financial assistance in line with its charitable objectives. In setting its objectives and considering applications, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including guidance ‘Public benefit: running a charity (PB2)’.
The trustees who served during the year and up to the date of signature of the financial statements were:
| Mr Alan Fletcher | Chairperson |
|---|---|
| Dr Patricia Botha | |
| Dr Jeremy Clarkson | Secretary |
| Mrs Phillippa Holroyd | Treasurer |
| Mrs Janet Manners |
The trustees' r eport was approved by the Board of Trustees.
Dr J Clarkson
Trustee Dated: 21 January 2022
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BARNT GREEN MEDICAL TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 MAY 2021
The trustees are responsible for preparing the Trustees' Report 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 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 trust and of the incoming resources and application of resources of the trust for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and 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 trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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BARNT GREEN MEDICAL TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARNT GREEN MEDICAL TRUST
I report to the trustees on my examination of the financial statements of Barnt Green Medical Trust (the trust) for the year ended 31 May 2021.
Responsibilities and basis of report
As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mr Richard Alan Horton Chartered Certified Accountant
Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH
Dated: 22 January 2021
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BARNT GREEN MEDICAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2021
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds |
||
| 2021 | 2020 |
||
| Notes | £ |
£ |
|
| Income from: | |||
| Donations and legacies | 3 | 26,922 | 101,798 |
| Expenditure on: | |||
| Charitable activities | 4 | 8,296 | 48,401 |
| Net income for the year/ | |||
| Net movement in funds | 18,626 | 53,397 |
|
| Fund balances at 1 June 2020 | 53,397 | - |
|
| Fund balances at 31 May 2021 | 72,023 | 53,397 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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BARNT GREEN MEDICAL TRUST
BALANCE SHEET
AS AT 31 MAY 2021
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Income funds Unrestricted funds |
2021 £ 80,319 (8,296) |
£ 72,023 72,023 72,023 |
2020 £ 54,237 (840) |
£ 53,397 53,397 53,397 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 21 January 2022
Dr J Clarkson Trustee
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BARNT GREEN MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
1 Accounting policies
Charity information
Barnt Green Medical Trust offers assistance in the provision of equipment, facilities and/or statutory authorities for Barnt Green Surgery.
1.1 Accounting convention
The financial statements have been prepared in accordance with the trust's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The trust is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the trust . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
1.4 Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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BARNT GREEN MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Restricted funds are to be used for specified purposes laid down by the donor. Expenditure for those purposes is charged to the fund, together with a fair allocation of overheads and support costs.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust ’s contractual obligations expire or are discharged or cancelled.
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BARNT GREEN MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
2 Critical accounting estimates and judgements
In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds |
|
| 2021 | 2020 |
|
| £ | £ |
|
| Donations and gifts | 26,922 | 101,798 |
| Charitable activities | ||
| Charitable | Charitable |
|
| Expenditure | Expenditure |
|
| 2021 | 2020 |
|
| £ | £ |
|
| Charitable expenditure | 7,456 | 47,561 |
| Share of governance costs (see note 5) | 840 | 840 |
| 8,296 | 48,401 |
4 Charitable activities
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BARNT GREEN MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2021
5 Support costs
| Support costs Governance costs £ £ Independent examiners costs - 840 - 840 Analysed between Charitable activities - 840 - 840 |
2021 £ 840 840 840 840 |
|---|---|
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
7 Employees
There were no employees during the year.
8 Creditors: amounts falling due within one year
| Other creditors Accruals and deferred income |
2021 £ 7,456 840 8,296 |
2020 £ - 840 840 |
|---|---|---|
9 Related party transactions
There were no disclosable related party transactions during the year .
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