REGISTERED CIIARITY NUMBER.. 1188289 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023 FOR THE BARBARA ALYNE ENGLISH LITERATURE MEMORIAL PRIZE TRUST Ainsworths Limited Chartered Accountants Charter House Stansfield Street Nelson Lancashire BB9 9XY THE BARBAIi4 ANNE ENGLISH LITERATURE IIIEMORIAL PRIZE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023 Page Report of the Trustees Iro4 Independent Examiner's Report to the Members of The Barbara Anne English Literature Memorial Prize TNSI Sratement of Financial Activities Balance Sheet Notes io the Financial Statements 8t0 10 THE BARBARA IV4NE ENGLISH LITERATURE IMEINIORIAL PRIZE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2023 FIIYANCIAL S'E'A'I'EfvILTr4"1"S AND 1'RUS'I'EkS' REPORT The tru8tee presellls their annual report and unaudited Fllwicial statements of the charity for the year ended 31 July 2023. The financial 8tatements comply with the Charitie8 Act 201 l and Reportints by Charities.. Sta￿ment of Recommended Practice applicable to ¢hariiies preparing their accounts in accordance with the Financial Reporting Siandard applicable in the Uniied Kingdorn and Republic of Ireland (FRS 1021- (Charities SORP IFRS 10211. REFEREIYCE AND ADMINISTIL4TIVE DETAILS Registered Charity number 1188289 Registered offjee Nelson & Colne College Scotland Road Nelson BB9 7YT Trustees and key management Ne150n & Colne College Role Corporate tryste¢ Independent Examiner M Sunler FCA Ainsworths Limited Chartered Accountants Charter House Stansfield Street Nelson Lancashire BB9 gxy Bankers Lloyds Bank PIC Market Street Manchester Mi Ipw Page I THE BARBARA ANf4E ENGLISH LITEIL4TURE f*lEMORIAL PRIZE TRUST REPORT OF THE TRUSTEES {CONTINUED) FOR THE YF.AR E)4DED 31ST JULY 2023 STRbCTLRE, GON'ERNANCE ANI'D ￿l￿NAGEMENT Organisatlollal status The Barbara Anne English Literature Memorial Prize Trust was registered as a charity on 2. March 2020 under the provisions of the Chariiies Act (Charity number: 1188289} at]d is governed by a trust deed. Organisational 5trueture The Board currently Consists of one CO￿orate Irusiee who is restK)nsible for key policy decisions and the effective governance of the organibaiion overall. The trustee lakes care of the day to day and legal requirements of the charity and the Board meeis on a regular basis. Recruitment and appolntment of new trustee5 Trustees are appointed lo reflect the skills required to support the Board and its range of activities. The tn]slees them8elves appoint new tjustees to the Board and provide appointee8 Wlth a full orientation on ihe services provided, the decision- making processes of the charity a￿d the roles and responsibilities Of a trustee, including their legal obligations under applicable laws. Risk management The irnstee has examined the major straiegic, business and operational risks which the charity fa¢es and confirm that 5y5tem% have been established to ensure that regular reports are produced and that necessary steps can be taken to address any issues arising. OBJECTIVES AND ACTIVITIES The Barbara Anne English Literature Memorial Prize Trust exists to advance the study of English Literature through supporting students ofNelson and Colne College, principally by awarding prizes. The charitywas esiabli8hed to recognise the skills aTLd achievements of Students in English Literature. Public benefit In seiting out the charity's objectives and planning of activitie8 the trustee has given care￿1 consideration to the Charity Commis￿l0n.$ general guidance and 5e¢tion 1715} tsf the Charities Act 2011. The tNstee is confident that the charity offers ￿erviceS of real and practical use to the local populatioll and therefore complies with the responsibility placed on all charities under the Charities Act 2011 to demonstrate a public benefii. ACHIEVEt*lENTS AND PERFOILMANCE In ternis of main events during the year ended 31 July 2023, the Trust received a ¢harilable beque8t within the year, increasing funds available io support ils purpose. During the year, the Barbara Anne English Literature Metnorial Prize Trust recognised the highest excellence and acadetnic achievement in ihe study of English Literature, through a prize award to a student at Nelson and Colne College. uture plans The trustee will continue to develop future plans to demonstrate public benefit through the charity, in line with its objecuves and purpose. Page 2 THE BARBARA ANNE ETr¥GLISH LITEIUTURE MEMORIAL PRIZE TRUST REPORT OF THE TRUSTEES (COYL TIYI UEDI FOR THE YEAR ENDED 31ST JULY 2023 FINANCIAL REVIEW The attached statement of financial activities shows how funds were raised and applied duting the year, This statement separates Funds which the chaiily controls itself {unre5tricted funds) from those that have io be spent in a manner deiemiined by the dtsnor (restricted funds). During the year ended 3 Isl July 2023 incoming resources amounted to £173,828 while resources expended amounted to £771. The net result lor the year was a SLuplus of £173.057. The t￿￿te¢S consider the re5uIt5 for the year to be satisfactory. Reserves policy It is the policy of the charity to rnaintain unre8tricted fvnds, which are free reserves of the charrity, at levels which equate to an excess of its projected needs for the forthcoming year, thereby providing sufficient funds to cover management, administration and 8uppon costs and enable the ongoing development of proje¢is. The trnstee believes the net asset position is.%utTicieni to satisfy such requirements although these levels of free reserves are reviewed on a regular basis. Risk a$5es5ment The trustee reviews the major risks faced by the charity during iheir regular meetings and confimi there are systems in place to mitigate them. Internal risks are minimised by the segregation of duries and procedures for authorisation of all transactions. STATEMENT OF TRUSTEEES, RESPONSIBILITIES Under charity law, the trustees are responsible for preparing the Report of the Trustees and the financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the excess of ineome over expenditure for that period. In preparing these ftnancial stat¢ment8, generally accepted accounting practice entails thai the uwtees.. select suitable accounting policies and then apply them consistently,. make judgement8 and e%timates that are reasonable and prudent; state whether the recomtnendatl0n￿ of the Statement of Recommended Practice have been followed, subject to any material departure8 di8closed and explained in the financial statements,. state whether the financial statements comply with th¢ In￿t deed, subje¢1 to any material departures disclosed and explained in the F￿ancial slaternents,. and prepare tlie fllLqncial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its aciivities. The trnstees are required to act it) accordance with the trust deed of the charity, within the framework of itvst law. They are responsible for keeping proper accounting records. sufficient to disclose at any time. with reasonable accuracy, the f￿anCIal position of the charity at that time, and to enable Ihern to ensure ihat, where any siatements of accounts are prepared by thetn under the Charities Aet 2011 and the applicable Charity (Accounts and Reports) Regulations, those statements of account% comply with the requirement8 of regulations under those provisions. The tNstees also have a general respon8ibility for taking .%uch step8 are reasonably open to them to safeguard ihe assets of the charity and to prevent and detect fraud and otlier irrtgularities. Page 3 I'HL BARIIAIiA ￿NNE EINGLISH LITEILITURE f¥1£￿￿oRtAL PRIZE TRUST REPORT OF THE TRUSTEES ICONTIYUED) FOR 1'HL YEAR EINDED 31ST JLLY 2023 Charity requiremeRt5 This report ha5 been prepared in a¢¢ordan¢e with requirements sei down by the Chariiies SORP IFRS 102). ON BEHALF OF THE BOARD. On behalf of Nelson & Colne College- Trustee Dated.. 23rd May 2024 Page 4 ILYDEPENDE)T EMMINI ERS REPORT TO THE IN[E￿IBERs OF THE BARBARA ANNE ENGLISH LITERATLRE ￿lE￿loRIAL PRIZE TRLTST I report on the accounts of The Barbara Anne English Literature Memorial Prize TnTst for ihe year ended 31"July 2023, which are set out on pages 6 10 10. Respective responsibilities of the trustees and examiner The charity's trustees are responsible for the prepdration of the accounts. The charity's trustees consider that an audit is noi required for ihis year under section 14412) of the Charities Act 2011 {the 2011 Act) and that an independent examination is needed. Having satisfied that the Charity is not subject to an audit under section 144{2) of the 2011 Act and is eligible for independeni examination, it is tny rebpon5ibility to-. Exarnine the accounts under section 145 of the 2011 A¢t,' To follow the procedures laid down in the general Directsons given by the Chariiy Commission under section 14515llbl of Ihe 2011 A¢i,' and To state whether particular matter5 have come to my attention. Basis of independent examiner's report My examinaiion was carried out in accurdance with the General Directions givell by tl)e Charity Commissioner. An examination includes a review of the accounlillg record% kept by the charity and a comparison of the accounts presented with Ihobe recordb.. It also includes consideration of any unusual items or disclosures ill the accounts. and the seeking 0£ explanations from you as trustees concerning any such tnatters. The procedures undertaken do not provide all the evidenLe that would be required in an audit and, con%equently, no opinion 15 given as to whether the a¢ctsunts present a 'true and fair view. and the report 15 limited to those matters set out ill the statement below. Independent eyaminer's $t#tement In connection with my examination, no matter has come to my attention.. Which gives me reasonable cause to believe that, in any material respect, the requirements.. (al lo keep accounting records in ac¢ordance with section 130 of ihe 2011 Act; and (bl to prepare accounts which a¢¢ord with the accounting record%, Comply with the accounting requirements of the 2011 Act hav¢ not been met,. or To which, in my opinion, attention should be drawn in order io enable a proper undersranding of the accounts to be reached. Arf Mark Sunler FCA Ain8worth8 Limited Charter Hou%e Siansfield Street Nel%on Lancashire BB9 9XY Dated.. 23 May 2024 Page 5 THE BARBARA ANNE ENGLISH LITERATLIRE LNIELIIORL4L PRIZE TRUST STATETrIENT OF fINANCIAL ACTIVITIES FOR THE YEAR ENDED 3 1ST JULY 2023 Unrestricted funds Restricted fund5 2023 2022 Notes INCOMING RESOURCES Donations and grants Other Income 173,828 173,828 Total incoming resources 173.828 173,828 RESOURCES EXPEI¥DED Charitable activities 771 771 Total resourees expeAded 771 771 NET MOVEMENT IN FUNDS 173.057 173,057 Other recognised gains and losses Net gain￿110$$¢8) on investments LYET MOVEMEYL T IN FUNDS 173,057 173,057 RECONCILIATION OF FUNDS Total funds brought for￿ Ard 2,750 2.750 2.750 TOTAL FUINDS CARIUED FORWARD 175,807 175 807 2,750 The statement of fEnancial activities includes all gains and losses recognised in the year. All income and expenditure (krives from continuing activities. The notes forni part of these fmat)cial statements Page 6 ## **THE BARBARA ANNE ENGLISH LITERATURE MEMORIAL PRIZE TRUST** ## **BALANCE SHEET AT 31ST JULY 2023** |**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Cash at ban
**CREDITORS**
Amounts flling due within one year
**NET CURRENT ASSETS**
**TOT AL ASSETS LESS CURRENT**
**LIABILITES**
**NET ASSETS**
**FUNDS**
Restricted
Unrestricted
**TOTAL FUNDS**
Notes
6
7|**2023**
£
**176,527**
**176,527**
**720**|£
**175,807**
**175,807**
**175,807**
**175,807**
**175,807**|2022
£
2,750
2,750|£| |---|---|---|---|---| |||||2,750| |||||2,750| |||||2,750
2,750| |||||2,750| The financial statements were approved by the Board of Trustees on 23[rd ] May 2024 and were signed on its behalf by: On behalf of Nelson & Colne College Trustee The notes form part of these financial statements Page 7 THE B.4RBA114 ANNE ENL GLISH LITEIL4TURE METr¥lORIAL PRILE TRUST NOTES TO THE FINAYCIAL STATEIIENTS FOR THE YEAR F.NDED 31ST JLTLY 2023 ACCOUNTINL G POLICIES Statutory information The Barbara Anne English Literature Memorial Piize T￿st is registered witii the Charity Comtnission in England. The reLJistered charity number and address can be found in the Repon of the Trnstees on page l. Basis of preparation rhe account% {fJnancial siatemenisl have been prepared in accordance with the Statement of Recommended Practiee.. Accouniing and Reportin(T by Charities preparing their ac¢ounts in accordance with the Financial tporting Standard applicable in the UK and Republic of Ireland IFRS 10?) igsued on 16th July 2014 and the Financial Reponing Standard applicable in the United Kingdom and Republi¢ of Ireland IFRS 102) and the Cbarities Aci 2011 and UK Generally Accepted Practice as it applies from 1st January 2015. CDnsolidation The charily elected to take exemption frotn the requiremenis to prepare consolidated accounts as pern]itted by Charities SORP IFRS 1021. Clsh tlo The charity is exempt from the requirement to prepare a cash flow statement a5 it qualifies as a small entity. Incoming resourees All incoming rebources are included on the Statement of Financial Activities when the charity is legally entitled IL) the in¢ome and the amount can be quantified with reasonable accuracy. Income from donatSOll5, legacie5, fundraising and similar incoming resources are included in the year in which thcy are receivable. Any income received for specific purpose is accounted for as restricted Funds when receivable. Resources expended EJpenditsre is accounted for on an accruals basis linclu8ive of attribuiable value added tax which cannot be recovered) and has been classified under the principal categories related to the cost. Co8ts allocated to activities in the furtherance of the ehariiy's objects are those directly a550ciated with achieving the charity's goals. Governance costs are those incurred in conneciion with the ￿anagement of the company's &qseL8, organisational adininistration and compliance with Constitutional and statutory requirement5. Where cosis callllot be di￿¢11Y attributed to particular heading% they have been allocated to activities on a ba515 consistent with tILC use of resources. &¢founting Umresiricted funds are available for use at the discretion of the trustees in the furtherance of the general activities oEthe Charily. SuTrlus fullds Can be allocated lo resIric￿d projects if the trustees believe they are required. Restricted funds ale Fund% Subject to specifle restriction imposed by the donor5 for the purpose of any appeal in which the funds are raised and call only be used for particular pU￿ose within the objects of the ch2rity. Taxation The lrnst is a registered charity and is therefore ex¢mpi from Income Tax and Corporation Tax under the provisions of Section 50511) of the Income and co￿oration Taxes Acr 1988. The notes form part of these financial statejnents Page 8 THE BARBAIL4 ATr4NE ENGLISH LITERA'fuRE ME￿[oRIAL PIUZE TRUST NOTES TO THF. FIN￿NcIAL STATEI*IENTS ICONTIIYUEDI FOR'fHE YEAR ENDED 31ST JULY 2023 L ET IINCONI IE AND EXPENDITURE FOR THE YEAR Nel income and expenditure 15 Staled after charging.. 2023 2022 Indépe￿