t￿￿￿01￿11 ￿1V￿1￿￿*t vL4. i-DLOtrLJlJv Iv Chartty rnglBtratlon number 1200734 (England and Wales) Company r•gistralion number CE030443 BARGATEWOOD TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 NOVEMBER 2023 IJu￿￿a1Yll Cll¥WV¥ iu. QicVJt￿tJ-¥ i11L￿￿t ILJ BARGATEWOOD TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trust•es Mr J Lederm8n Mr R Rich MrJ Zinkn'n (Appointed 18 October 2022) (Appointed 14 August 2023} (Appointed 18 October 20221 Charlty numbgr (England and Walos) 1200734 Company numb•r CE030443 Ind•pend•nt •xamin•r Glazers 843 Finth19y Ro London NW118NA vu￿U&l¥ll cri¥¥iuw Iv. IL• BARGATEWOOD TRUST CONTENTS P#g• Trustees. report Independent examine¢s report Statsm8nt of financi81 activities Balance sheet Notes to the flnancial Statements 6-10 W•iyri GIiYwwy¥ Iv. iylJyyt t"D£VL¥"VVV IV BARGATEWOOD TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE PERIOD ENDED 30 NOVEMBER 2023 The Trustees present their annual report and finanaal statements for the period ended 30 November 2023. The financial sl*ements have been prepared in 8ceordan¢e wth the accounting policies set oul in note 1 to the fin8ncial statements and comply with the Tnjsl's goveming doGumenl, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo charitses preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021". Obl•ctlvos and actlvltles The chanty mak8s grants to other ch8rllies and voluntsry bodles. The princlpal alm Is to provid8 funds for an emergency amtxjlancg se￿1¢8 in B8met, Enfiold and Hertford8hire and surrtxjnding a￿a$_ Public ben8fil The Trustees have paid due regard to guidance issued by the Charity Commission in decjding what activilies the TnJ8t should undertske. Achlevements and porformance Significarrt activilies and achievements 8gainst objeclives Charity has received donations of GBP 146,004. Profil for the period is reported at GBP 137,326. Financial review R&seThes policy It is tho F)oli¢y ol the Trusl that unreslricled funds which have not been designated for 8 specific use should bè maintained at a level equivalent lo be￿88n three and six month's expenditure. The Trustees consider that reserves at this level will ensure that. in the èvent of a significant drop in funding, they will be 8ble to continu8 the Trust's current actlvilles while considerallon Is given to ways In whlch addlllonal funds may be ralsed. Th18 level of reserye8 has been maintained Ihroughoul the period. Stw¢tur•, govern•n¢e 8nd manag•ment The Trust is a company limited by gu8rantse. The Trustees, who are also the directors lor the purpos& of company law. and who served during the period and up lo th8 date of slgnature of the financial slalements werè.. Mr J Lederman (Appointed 18 Octob8r 20221 Mr R Rich (Appointed 14 Au9usI 2023) Mr J Zinkln (Appointed 18 October 20221 Recruitm8nt and Bppointmant of InJst8es There is no formal policy for the induction and training of new trustees. However all truslees have a knowledge of the community they aim lo serve and ol the overall objectives of the eharity. V￿￿U>v11 ClIv¥IV￿ IV. IL4 BARGATEWOOD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE PERIOD ENDED 30 NOVEMBER 2023 The Trustees. report was approved by the Board of Trustees. l¥ssdL ficL S90314AF6W4ES Mr J Lederman Trusts Mr R Rich Trust•• 12/17/2024 Date.. L4UbU>WII CIIV¥IVWJ IU. EVJI ￿u-¥ iuu*vt i-L7£u￿Ltruu IU BARGATEWOOD TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARGATEWOOD TRUST I repc*l to Ihe Trustees on my examlnallon of Ihe flnanclal stalemenls of Bargatewood Trust Ilhe Trust} for the period ended 30 November 2023. Responsibilities and basis of report As the Trustees of the Trust land also its directors for the purpose5 of company 18wI, you are responsible for the preparation of the financlal slalemenls in accordance with the requlrements of the Cofflpanies Act 2006. You arg satisfied that the financial statements of Ihe Trust are not required by charty or ¢ompany18W to be audited and hav8 chosen inst9ad to have an indgpendenl gxaminalion. Havlng satisfied myself that the financial statements of the frust art not requlred lo be 8udlled under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my 8xamination of the Trusvs financlal statements carfed out under secllon 65 of the Charlties Act (Northem Irelanty) 2L)08 and sectlon 145 of the Charities Act 2011. In ￿rryIng out my examination I have followed the general Directior)5 given by the Charity Commission for Northem Irgland under section 6519llbl of the Charilies Act INorthem Ireland) 2008 and the Directions given by the Charity Commi&sion under section 145I5llb} of the CharitiesAct 2011. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examinatlon giving m$ cause lo belleve that In any malerial respect.. accounting records ware not kept in r8SP8Ct ol the Trust as required by section 386 of the Companies Act 2006. the flnancial slalements do r￿1 accord with those records.. or th8 flnanclal statèmènts do not ¢Dmpty wlth th8 accounting r8quir8mènts of sactlon 396 of tha Companies Act 2006 other than any requiremgnl Ih8t the financial ststements give a true and fair view, which is not a matter considared as part of an indepandent èxamlnation- or the financial statements have not been prepared in accordance wlh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with Ihe Finanual Repc*ting Standard appllcable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other matters in ¢onneclion with the examination to which attention should ba drawn in this ￿port in order lo enable a proper understanding of the financial statements lo b8 r8ached. Benlamln Allen FCCA of Glazers Chartered Accountants Independent Examiner 843 Finchley Road London NW11 8N Dale.. VU￿￿¥11 Cl1¥￿￿￿¥ IU. Qi IULtr¥VI t-P*OTrVVV Id¥E&VC I BARGATEWOOD TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 30 NOVEMBER 2023 Unrestricl•d fund8 2023 Notes Income and endowments from: Oonallons and legacies Olh&r incom8 146,004 52 Totsl Incom• 146,056 Expondlture on- Charitable activiti&s 8.730 Total expenditure 8,730 Not Income and movoment In funds 137,326 R*¢on¢lllatlon of funds- Fund balances at 18 Octobor 2022 Fund balances at 30 November 2023 137,326 The slatemenl of financial activities includes all gains and losses recognised in the period. All incomo and expenditure derive from continuing acliviliès. LI￿￿￿>1Y11 CII¥¥Iuy¥ Iv. Ivvyvi ILI BARGATEWOOD TRUST BALANCE SHEET ASAT 30 NOVEMBER 2023 2023 Notes Curront a$80ts Cash al bank and in hand 137,326 Net current assets 137.326 Tho funds of the Trust Unrestricted funds 10 137,326 137,326 The comp8ny is enb'tled to the exemption from the audit requirement cL)ntsined in 89clion 477 of the Companies Act 2006, for the perlod ended 30 Novemb8r 2023. The dlredors acknowledge their responsibilities for complying with the r8quirem8nts of the Companies Act 2006 with resp8cI to accounting records and the preparalion of financial statements. The members have not rgquired the company lo oblain an 8udlt of its financial stslements for Ihe period In question in accordanc• with section 476. These financial statements have been prepared in 8ccord8nc8 With the provlsh)ns 8pplicabl8 to companles subject lo the small companies regime. 1211712024 The financial ststements were approveKd by the Trustees on ......................... by Do¢uW•ntaty.' ssdL ÈE19 Mr J Lederman Trustee J4wcr" . Eeorr4*7eEVty4E8:'"' Mr R Rich Trustoe Company registration number CE030443 (England and Wales) CIIYVIVV¥ IU. Jicu￿• K•O-¥ 1vL￿wI I-D£QD-LIVLJIQ¥G£VG IV BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 NOVEMBER 2023 Ac¢ounllng poll¢le8 Charity iDft>miation Bargatewwd Trust Is a Charitable Incorporated Organlsation {CIOI establlshed on 18 October 2022. The charity's registered office is located at 3 Kingsijale Court, 367 Cockfoslers Road, Barnol, Hertfordshlre, EN4 OJF. 1.1 Reportlng perlod The financial statements for the current reporting p8riod are for a duration longer than one year, as this represents the first year of actiwty for th8 Bargatewood Trust. The charty ComMen￿d operations on 18 October 2022. and this reportong period covers from that date to 30 November 2023. Thls longer reporting period is due to the estsblishment of the charity and aligrk8 with its inilial year of op8ratir￿s. 1.2 Ac¢ounllng Mnvontlon The financial statements have been prepared in accordance with the Tnjsl's governing document, the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recomwnended Practice applicable to charities preparing their accounts in attordance with thè Financial Rèporting Stsndard applicable in the UK and Republic of Ireland IFRS 102}'. The Trust is a Publ￿ Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for d)arities not to propar8 a stat8ment of cash flows. The financial statements are prepared in sterting. which is the functional currency of the Trust. Monetsry amounts in these finonaal $iatgm8nts are rounded lo the nearest £. The financial ststements have been prepared under the historical u)sl convention. The princip81 aceounting policies adopted are set out below. 1.3 Going concern At the time of appToMng the financial stslemenls, th8 Truglees have g reasonable expect3tkJn that the Tnjsl has adequate resources lo continue in operational existence for Ihe foreseeable future. Thus the Truslges continue to adopt the going concem basis of accounting in preparing the finaniial statements. 1.4 Charitable funds Unreslricled funds ar8 available lor use al the discretK)n of the Trustees in furtheranco of thgir charitable objectives. R8Stricted furKls sufy'èct to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial ststemenls. Enthjwment funds are subject lo specific conditions by donors that the capltal musl be mainiained by the Trust. 1.5 In¢om? Income is recognised when the Trust is legally enliued to il after any performanco conditions have be8n met. the amounts can b8 m&asured r6118bly, and h is probable Ihal 5ncom& wlll be recelved. Cash donations are recognised on receipt. Other donal¥)ns are recognised once the Trust has been nolsfied of the donth"on. unless performance conditions require deferral of the amount. Income lax ￿e0Verable in relation lo donations received urKler Gift Aid or deeds of ca)venant is recognised at Ihe time of th& donation. vvbut*lyII CII¥¥WV ILJ. Q1CV￿+ IUV-*VI I-DLQP-vvv I BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 NOVEMBER 2023 Aooountlng pollclo$ Icontinuodl Legades are recognlsed on receipt or othgrwise if the Trust has been notified of an impending dlstrfbution. Iho amount is known, and receipt is expocled. If the amount is not known, the legacy is treated as a contingent asset. 1.6 Expenditur• Expenditure is recognised once there is a legal or constnjctive 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 tho total of direct W515 and shared costs, including support costs invofved in undertaklng each act￿ty, Dlred costs 8ttributable to a $Sngle activity are allocated directly lo that acliwty. Shared costs which contribute to more than one activtty and support costs which are not attrlbutable lo a slngle activlty are apportioned betsveen thos8 activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent. and deprgcialion chargas are allocated on the portion of the asser5 use. 1.7 Cash and cash •quival•nts Cash and cash equivalents indude cash in hand, deposits held at ¢811 with banks, olh8r short-lom) liquid investments with original malurrtles of th￿e months or lèss, and bank overdrafts. Bank overdrafts ara shown wilhin borrowings in curronl Ilabillties. Bask lIna￿la1 assets Basic financial assets, whlch indude debtors and cash and bank balances. are initially measured al Ir8ns8Ctlon pr6ce Includlng Iransactlon costs and 8r8 subsequ8ndy carriad at 8morllsed cost using the effactlve nteresl method unless the arrangement wnstitutes a financing transadion. where the transaction is measured al the present value of the future receipts discount8d at 8 market rot8 of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltlos Basic financi81 liabiltties. including creditors and bank loans are initially recognised al transaction price unless the arrangement constilules a financing Iransaclion, where the debt instrumenl is m8asur8d Bt tha prèsent value of the future payments dis(xJunted at a market rale of interest. Financial liabilities classifiod as payable within Dn8 year are not amoth'sed. Oebl instruments are subseqUen￿Y Ca￿led at am0￿'sed cost, using the effective interest rate method. Trade credltors are obligatlons lo pay for goods or services that have been acquired in the ¢xdinary course of operations frorn suppliers. Amounts payable are c1assffied as current liabilities if payment is due within one year or less. If rbot. Ihey are presented as nonIyII CIIV¥IVVV ILJ. IVV￿Vr i-EI£VE7-VVV iv BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 NOVEMBER 2023 Expendlture on ¢harltable actlvrtles Charitable Expendlture 2023 Olrect costs DBS Checks Equipment Insurance Bank Charyes Miscellaneous Expenses Casual La￿ur Prinling Quiz Cost Roorn Hire Subscription Tr8lnlng 272 4.509 164 1.295 5(X) 352 600 100 108 450 8,730 Analysls by fund Unrestricted fvnds 8,730 Net movement in funds 2023 The net movement in funds 18 Staled after chargintylcredilingl.. Fees payable for the indeperKlent examination of the charivs financial slalemenls Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the Trust during the period. Employoes Tha av8rag& monthly numbar of employe8s during the period was.. 2023 Numb•r Total There were no employees whose annual remuneration was rn0￿ than £60,000. RomuTroration of kgy manag•mwnt personn•l The remuneration of key managernenl personnel was as follows.. vV￿￿)I¥[j EIIVVIVVV IU. 4Jl EWI￿9.¥1VL￿TrVl IL4 BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 NOVEMBER 2023 Taxatlon The charity Is exempl trom tsxaliDn on its acliMtKg8 because all Its income is applied for charitable purposes. 10 Unr8strlct8d funds The unrestricted fund8 of the charity comprise the unexpended balances of donations and grants which ar8 not yubjed to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 18 Oclober 2022 Incomlng Resources rgsources •xpend¢d At30 Novomber 2023 General funds 146,056 18,7301 137.326 11 Related party transactlons The￿ were no disclosable related paty transactions during the year. 10-