THE BARBER CHARVET TRUST Charity number 1184317 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 COMMUNITY THE BARBER CHARVET TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees John Barber Alexandra Mary Dashwood Evans Frances Barber Edward cha￿et Diane Charvet Charity number 1184317 Registered offiGe Little Potash Barn Berden, Bishops Stortford Essex CM23 1BG Independent examiner Community360 Winsley's House High Street Colchester Essex C01 1UG THE BARBER CHARVET TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023 Objectives and Actlvlties To advan￿ such charitable purposes (according to the laws of England and Wales) as the trustees see fit from time to time. Since inception, The Barber Charvet Trust makes grants to (mostly smaller) charities where the trustees in their sole discretion feel the charity fulfils the criteria set by the Board. It also administers the wishes of the late Frank Barber. The trustees of the BCT remain clear on the guidance from Charity Commission on public benefit. Achievements and Perforniance The BCT is a grant making trust, established to administer the wishes of the late Frank Barber and to make grants to smaller Gharities that fulfil the criteria of the trust's charitable purpose. In this regard the BCT made a total of 17 grants across 2023, to 12 charities who purpose aligned to the objects of the trust. These 12 charities collectively bring material benefits to society across England and Wales. Financlal Review The BCT is a financially robust grant making charitable trust, with assets of £2.4m as at 3rd Sept 2024. The trust holds all assets. derived from the estate of the late Mr Frank Barber, in cash and investment trusts, for the sole purpose of granting all income derived from these investments to charities across the year. The BCTS reserves are its asset base. There are no uncertainties about the BCT going concern. structure, Governance and Management The BCT is a grant making charitable trust and is govemed by a model trust deed. Trustee selection is made in accordan￿ clause 9 of the Trust Deed and according to the seleGtion of relevant skills and requirements. Edward Charvet Trustee THE BARBER CHARVET TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 I report on the accounts of The Barber Chervet Trust for the year ended 31 December 2023 which are set out on pages 4 to 8. RespeGtivo responsibilities of trustees and examiner The Charsty's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year {under section 144 {2) of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to.. Examine the accounts under section 145 of the Charities Ad, To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(51{b) of the Charities Act, and To state whether particular matters have come to my attention. Basis of independent examIne￿S Statement My examination was Garried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent examin8Vs ststement In Ihe course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect= the accounting records were not kept in accordan￿ with section 130 of the Charities Act., or the accounts did not accord with the accounting records-, or the accounts did not comply with the applicable requirements concèrning the form and content of the account5 set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fairf view which is not a matter considered as part of an independent examination. I 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 accounts to be reached. Shelley-marie Rudling FMAAT AATQB for and or alf of: Community360 Winsley's House, High Street, Colchester, Essex Date 28th October 2024 THE BARBER CHARVET TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Note Unrestricted Endowment Funds Funds 2023 Total 2022 Total Income and endowments from: Donations and legacies Investment income Total income and endowments 2,903,000 8,564 2,911,564 29,712 29,712 29,712 29,712 endlture on: Charitable activities Expenditure on raising fvnds Total resourGes expended 375 157,753 18,498 158,128 18,498 176,625 344,511 375 176,250 344,511 Gainsllosses on investment assets 129,991 129,991 Net incomel(expenditure) 29,337 {46,260) (16,923) 2,567,053 Fund balances at 1 Janury 2023 2,567,053 2,567,053 Fund balances at 31 December 2023 29,337 2,520.793 2,550,130 2,567,053 Notes on page 6 - 8 form part of these accounts. THE BARBER CHARVET TRUST BALANCE SHEET AS AT 31 DECEMBER 2022 Noto 2023 2023 2022 2022 Fixed Assets Investments 2,377.113 Current assets Debtors Bank balances 3,113 170,879 173,992 2,567,753 2,567,753 Current liabilities Creditors Net current assets 975 700 173,017 2.567,053 Net Assets 2,550,130 2,567,063 Income funds Unrestrirted funds Endowment funds 10 10 29,337 2,520,793 2.550,130 2,567,053 2.567,053 The trustees declare that they have approved the accounts above on- Signed". Dats: 27th Oct 2024 John Barber THE BARBER CHARVET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies The prinGipal accounting policies are summarised below. The accounting policies have been applied consistently throughoLrt the year and in the proceeding year. Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities= Statement on Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effeclive 1 January 2019} - (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} and the Companies Act 2006. Incoming resources Grants re￿1vable are recognised in the accounts when conditions for their re￿ipt are satisfied. Grants with conditions attached to their use are included in restricted funds. Donations, legacies and other forms of voluntary income are recognised as incoming resources when receivable. Resources 8xpended All expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay. Expenditure has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to a particular heading théy have been allocated to activities on a basis consistent with the use of the resources. Costs classified as govemance relate to the general running of the charity and include thè operations of the Board of Trustees and addressing constitutional audit and other stalutory matters. Resources expended include attributable VAT, which cannot be recovered. Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds may be either endowment or restricted income funds, depending on the nature of the restriction. Where the fund is not an endowment fund and is held on trust for spending on specrfic purposes, it is known as a restricted income fund. The resources (the assets and liabilities} of each restricted fund are held and maintained separately from other funds. This is in recognition of the circumstances in which the resources were originally received, andlor the restrictions on that fund that determine the way those resources are subsequently to be treated. THE BARBER CHARVET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Going Concern The trustees of the charity deem that there are sufficient funds available to continue operating on a going concem basis for the forseeable future Critlcal accounting estimates and judgements In the application of the charity'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 estirnates. 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. There are no critical accounting estimates or judgements in the financial statements. Donations and legaciès Unrestrictèd Endowment 2023 2022 Legacy 2,903,000 2,903,000 3. Investment income Unrestricted Endowment 2023 2022 Interesudividends re￿1vable 29,712 29,712 29,712 29,712 8,564 8,564 4. Total resources expended Unrestricted Endowment 2023 2022 Grants Other charges Govemance costs 157,753 157,753 100 275 158,128 343,811 100 275 375 700 344,511 157,753 5. Governance costs Governance costs includes payments to the independent examiner of £275 for examination fees Trustees None of the trustees received any remuneration during the year. 7. Stsff No staff were employed by The Barber Charvet Trust during the year. THE BARBER CHARVET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Creditors: amounts falling due within one year 2023 2022 Trade creditors 975 975 700 700 Debtors: amounts falling due within one year 2023 2022 Accrued interest 3,113 3.113 10. Fund analysis Balance at 1 January Income Expenditure Balance at 31 DeGemb8r Unrestricted funds Endowment funds 29,712 129,991 159,702 (3751 176,250 1176,6251 29,337 2,520,793 2,550,130 2.567,053 2,567,053 11. Related Parties The Barber Charvet Trust made grants to other organisations with a trustee in common. These grants totalled £15,000.