Charlty number: 1200734 BARGATewooD TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2024
8ARGATEbVOOD TRUST CONTENTS R•f•rOn and A¢kninl•lrativ• D•tsll• of th• Charlty. Its Tru•t••• •nd knl•arn Indopond•nt Examln•tr• R•port StatoThnt of Flmnclal Actlvltles 8al•nc• Sh•ot Nol•s io th• Rn•n¢l•l 8t•t•rnnts 7-13
BARGATEWOOD TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 NOVEMBER 2024 Mr J Ledemian Mr R Rlch Mr J Zinkin Charlty vwJlAt•r•d numb•r 1200734 Prfnclpal offlc• 3 Klng8dale Court 367 Cockloster8 Road Bamet Hertfordshlre EN4 OJF lfid•pond•nt Examln•r Glazers 843 Finchley Road London NW118NA Page 1
BARGATEWOOD TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 30 NOVEMBER 2024 The Trustees present thelr annual report together wlth the Ilnanelal statements of the Charity for the year from 1 December 2023 to 30 November 2024. The Trustees confimi that the Annual Report and the financial statements of the charity comply vAth the current ststutory r8qulr6m¢nts, tho rnquir•menls of the charitys goveming document and the provfisions of the Slat9m•nt of Recommended Practice (SORP), applicable to ch8rities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effective 1 January 2019). struCre. governance and manag•m•nt The charity is a CIO registered with the Charity Ccthmissioners un(kr the registration number 1200734. It is governed under the temis of the CIO Foundation Constitutlon dated 18 O¢tobor 2022. The management of the Charity is th8 responsibility of the Trustees are elected and c(x)pted under the terms of the goveming document. The appointment of Trustees is regulated by the CIO'S goveming document. The power of appointment of new trustees lies with the existing Board of Tnjstees. New trustees are recruited based on their attributes and the requirements of the CIO and are familiariged wlth the work that the Charity undertakes through meetings and discussions with the Board of Tnjstees. Th8 training of Trustees is detemilned by the govemance needs of the Trust to meet Its charltable oblectives. On inibal appointrnent, new Trustees are given access to the govemlng document. financl81 infomiatlon, meeting materials and essential trustee guidance from the Chadty Commlssion. The Trustees are commltt6d to a regular review of the major strategic, busi$$ and operational rfsks which the Charity faces with a view to ensuring that appropriate sy51em8 and procedures are in place to minimise these risks. Trusteos The following Trustees seNed the charity during the year. Mr J Ledenn8n Mr R Rich Mr J Zinkin ObJ•clive8 and a¢tlvltles Th8 charity rn8kes grants to other charitles and voluntsry bodles. The prfnclpal aim is to provlde fundg for an emergency ambulance service in Bamel. Enfield and Hertfordshire and Surrounding areas. In setting the objectives and planning th8 activlty of the Charity, the Tnjstees have given carelul consideration to the Chadty Commission's general guldance on public benefrt. Achlevements and perfomMn¢e The Charlty made grants totalling £159.324 {2023 - £8.5661 durin9 the yaar to fund the set up of an ambulanco service in Bamet in line with its objectives. Flnanclal revlew During the year ended 30 November 2024, the Charity received donations and gifts in kind totalling £315,754 12023 £146,004). Charitable activity costs of £161,313 {2023 - £8,730) were incuTf8d. This resulted in carried forward unrestricted reserves of £291,917 12023 - £137.326). It is intended by th8 Trustees that funds will be retained wthin the Charity to cover the reserves policy wth the remaining funds being used lo award grants in line with the Charivs objectives. Paga 2
BARGATEWOOD TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 30 NoveMBER 2024 Rosorv•s pollcy 11 Is thp policy of the Trust that unrestricted funds which have not been designated for a speafic purpose should be maintained at a level equivalent to betsv¢en three and six months expenditure. The Trustee consider that r8serves at this level will ensu thal, in the event of a Significant drop in fvnding, they will be abl& to continue the Trusvs current aclivlties while ¢on5ideration is given to ways in which addItnal fvnds may be raised. At the year 8nd, the level of free reserves far exceed the reseThe$ policy. Approved ty order of the members of the board of Trustees and Slgned on thelr behalf by.. sl KCL Mr R Rlch Trustee Date.. 29 Septgmbgr 2025 Page 3
BARGATEWOOD TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 NOVEIABER 2024 Inthp•ndent Examlnerfs Report to the Trustoos of Bargatewood Trust {Yhe Charlty) I report to the charity Trustees on my examination of the accounts of Ihe Chartty for the ypar ended 30 November 2024. R•spon$ibililio¥ and Basis of Roport As the Trustees of the Charity you are responsltle for the preparation of th8 accounts in accordance wilh the requirements of th8 Charities Act 2011 Ilhe 2011 Acr). I report in respect of my examination of the Charivs g¢counts carried ovi under 8e¢tion 145 of the 2011 Act and in carrying out my examlnation I have followed the applicable Diwtions given by Ihe Charity Commission under se¢lion 14515)(bl of Ihe 2011 kt. Indgpondgnt Examingrfs 8tatomgnt Since the Charivs gross income exceeded £250,000 your examiner must be a member of a iM)dy Ilsted In se¢tlon 145 of th6 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the ACCA. which 15 ong of the listed bodi8S. I have completed my examination. I confim that no material matters have come to my attention In ¢onnection th the examination giving me cause to beli8V8 that in any material respect.. accounting records were not kept in respect of tho Charity as required by section 130 of the 2011 Act., or the accounts do not accord with those record8: or the accounts do not comply wtth the applicable r4uiremenls concornlng the fomi and content of accounts set out Sn th8 Charities (Accounts and Reports) Regulations 2008 oth8r than any requirèmont that the accounts give a Iruo and fairf vlew whlch is not a mattor considered as part of an Ind6p8ndent examination. I have no wnrem5 and have come across no other matters in conneclion with the examination to whlch attenlion Should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Thls report Is made solely to the Charivs Trusleas, as a body, in a¢cordanco wilh Part 4 of the Charities (Accounts and Reports) Règulations 2008. My work has been undertaken so that I mi9ht slate to the Charitys Truslg05 thosè matters l am required to state to them in an Independent Examinerfs Report and for no olhor purpose. To the fullest extent perniitted by law, I do not accept or assume responsibility to anjbne other than the Charty and the Chari s Tnjstees a$ a body, for my work or for thi$ report. Signed: Benjamin Allen FCCA Glazers 843 Finchley Road London NW118NA Page 4
BARGATEWOOD TRUST BALANCE SHEET AS AT 30 NOVEhlBER 2024 2024 2023 Current assots Cash at bank and in hand 292.817 137.326 292.817 137.326 Curront Ilablllll Creditors.. amounts falling due wthin one year 10 (9001 Net current a•1$ 291,917 137,326 Tol41 a• 1055 curront ilitIeS 291,917 137,326 Total n•t a880ts 291,917 137,326 Charlty fund8 RestrIed fund5 Unrestd¢ted funds 11 11 291,917 137,326 Total funds 291,917 137.326 Th8 financial statements were approved and authorised for i55ue by the Trustees and signed on their behalf by. ALsL f4 Mr R RIGh Trustee Date: 29 September 2025 The notes on pages 7 to 13 fomi part of these financlal statements. Pag¢ 6
BARGATEWOOD TRUST STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2024 Unreslrl¢ted fund8 2024 Total nd8 2024 Total funds 2023 Nots Incom• from: Donations and legacies Inveslments 315.754 150 315,754 150 146.004 52 Total Incom• 315.904 315,904 146,056 Exp•ndlture on: Charitable activlties 161,313 161,313 8.730 Total •xpondtturn 161.313 161.313 8,730 Net mov•mont in fund¥ 154,591 154,591 137.326 Reconclllatlon of fvnds: Total funds brought forward Nel movement in funds 137.326 154,591 137,326 154,591 137,326 Total fvnd8 carrl•d forward 291,917 291,917 137.326 The Statement of Fanal Acuvltles includes all galns and losses recognised In the year. The noles on pag95 7 to 13 foThn part of th8s8 financial stat&ments. Paga 5
BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Gonwal Informatlon Bargalgwood Trust is a Charitable Incorporated Organisation ICIOI registered with tha Charity Commission on 18 October 2022. The charitys registered office is located at 3 Kin9sdale Gourt, 367 Cockfosters Road, Barnet. Herlfordshlre, EN4 OJF. Accountlng poll¢lo8 2.1 Basls of preparallon of financial stat•m•nts The financial statements have been prepared in accordance with the Charities SORP IFRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charilles preparing their accounts in accordance Wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The Charlty meets the defflnltn of a publlc benefft entty under FRS 102. Assets and liabilities are initlally recogniged at histori¢al ¢o$t or tran$acti¢n value unless othenNTse stated in the relevant accountlng pollcy. The comp8ratlve pedod Induded In these financial statements is loThJer In duratlon than one year and covers the perh)d from establlshment on 18 October 2022 to 30 November 2023. The financlal statements are prepared in sterfing, which is the functional currency of the Trust. 22 Golng concem At the tlme of approving the financAal statements, the Trustees have s reasonable eX[tIOn that the Trust has adequate resources to contlnue In operauonal exlsi8nce for the forseeable future. Thus Trustees continue to adopt the going concem basls of accounting in preparing the financial statements. 2.3 Income All incom8 is recognised once the Charity has enltuernent to the income. it Is probable that the income will be received arKI the amount of Incorne recelvable fAn be measured reliably. Cash donations are recogni$8d on recèipt. Other donations ar8 racognised once th8 Trust has been notified of th8 donation, unless performance conditions require deferral of the amount. The recogn5tion of Income from legaeJe$ Is dependent on establlshlng entitlement, Ihe probability of receipt and the abllty to eslimate with sufficient accuracy the amount receivable. Evidence of enltlement to a legacy exists when the Charity has sufficient evidence that a gfft has been left to them (through knowledge of the estenCe of a valid will and tho death of the benefactor) and the executor is satlsfied that tho property in question will not b8 required to satisfy daims in the ostate. Receipt of a legacy must b8 recognised when it is probable that it will be received and the fair value of the amount receivable, whtch will generally be the expecled cash amount to be distributed to the Charity. can be reliably measuréd. Grfts In klnd donated for distribution are included at valuation and rgcognised as 1Cne when they are distributed to the projects. Gtfts donated for resale are induded as inc(Kne when they are sold. Where the donated good is a flxed asset, it 1$ measured at fair v81ue, unless it 1$ impra¢ti¢al to measure this reliably, In whl¢h case the cost of the item to the donor should be used. The gain reeogniged as income from donations and a corresponding amount is included in the appropriate fixed asset da8s and depreated over the useful economic life in accordance with the Charivs accounting pollclès. Pag• 7
BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Accountlng pollcles (contlnu•d) 2.3 Incom• {contlnuad) On Ceipt, donated professional services and facilities are recognised on the basis of the value of the gift to th8 Charity which is the amount it would have been willing to pay to obtsin services or faalities of equivalent economic benefft on the open market- a rorre$ponding amount is then recognised in expenditure in the period of Ceipt. Income tax recoverable In rolati to donation5 received und8r Gift or deeds of covenant is recognised at the time of the donation. 2.4 Exp•nditur• Exponditure Is recognised once there is a legal or constructwe obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be requirgd in Settlement and the amount of the obfigation can be measured reliably. Expgnditur8 is classified by activity. The costs of each activity 8re made up of the total of direct costs and shared costs, including support costs invofved in undertaking each activlty. Direct costs attributable to a single activity are allocated directly to that activty. Shared ojsts whl¢h contribute lo more than one acbwty and support costs which Sre not attributable to a single acknvlty are apportioned befvleen those activities on a basis consistent the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Expenditu on tharilable activities is incurred on direcily undertaking the activihes which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except In those cases where the offer is conditional, such grants being recognised as expend6ture when the eondltions attaching are fulfilled. Grants offered subject to conditions whlch have not been met at the year end are noted as a commitment. but not accrued as expendlture. All expenditure Is Inclusive of irrecoverable VAT. 2.5 Intsre¥t reGelvabl• Interest on funds held on dep)sit Is Induded when r8celvabl8 aThJ the amount Can be measured reliably by the Charty-, thls is normalty upon notification of the interest paid or payable by the inslitutlon whom the fvnds are dep08ited. 2.6 Ttion The Charity Is exempt from taxation on its activities because all of its income is applled for charitable purpos0$. 2.7 Cash at bank and In hand Cash at bank and in hand indudes cash and short-tem7 highly liquid investments with a short maturity of three months or less from the date of acquisition or ¢)pening of the deposit or $imilar account. Page 8
BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Accountlng pollcl•s Icontlnu•d) 2.8 Liabilitlos and provisio Liabilities are recognised when there is an ci)ligation at the 8alan¢e Sheet date as a result of a past event. it is probable that a transfer of economic benefit will b8 required in selllement, and th8 amount of the settlement can be estimated reliably. Liabilities aro recognised at Ihe amount that the Charity anticipates it wll pay to settle the debt or Ihg amount it has received as advanced paymonts for the goods or seNices it must prowde. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. th8 provision is based on the present value of those amounts. discounted al the pre-tax discount rate that reflects the risks specific lo the liability. The Unwind1 of the discount is recognlsed in the Statement of Financial Activities as a finance cosL 2.9 Finan¢ial in$trumonl• The Charity onty has financial assets and financial liabilities of a kind that qualify as basic financlal instruments. Baslc finan¢lal Instruments are inltlalty recognised at transaction value and subSeqUenY measured at their settlement value with the exception of bank loans which are sUbseqUenY measured at amortised cost uslng the effectlve interest method. 2.10 Fund accounting General funds are unrestricted funds whi¢h are available for use at the discretion of the Trustees in furtheran¢e of the general objectives of the Charity and which have not been designated for other purposes. Restricted fvnds are fvnds which are lo be usod in a¢¢ord8nce wth specific restrictlons imposed by donors or which hav9 bgen raised by the Charity for particular purposes. The costs of raising ané administering such funds are charged against the specthc fvnd. The aim and use of ea¢h restricte fund is set out in the notes to the financial statements. Investment income, gains and losses are alhxaled to the appropriate fund. In¢omo from (lonations and legacl•8 Unro$trld•d funds 2024 Total funds 2024 Totsl funds 2023 Donations and gifts in kind 315.754 315,754 146.004 Page 9
BARGATEWOOD TRUST NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Investment Inrne Unr•strlct•d nds 2024 Total funds 2024 T¢tsl funds 2023 Bank interest 150 150 52 Analysis of expendlture on charltable actlvltles Summary by fund typ• Unr•slri¢t•d funds 2024 Total 2024 Tot•1 2023 AGtiwty- Relief of sickness and injury 161,313 161.313 8,730 Total 2023 8,730 8,730 Analysls of expendlture by actlvltles Grant fundlng of actlvltles 2024 Support Gosts 2024 Total funds 2024 Totsl funds 2023 Activity- Relief of sickness and injury 159.324 1,989 161,313 8,730 Total 2023 8,566 8,730 Comparative amounts relating to expenditure have been reclas$lfied In these financlal statements. Prlor year expenditure lotalling £8,730 was reclassified from direct costs lo grants payable {£8,566> and support costs (£164) to better rellect the nature of the actlvitle8 undertaken in the prior >par. Pag8 10
BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Anatysls of 8xndItur• by •clivili•s (¢ontinu•d) An11$ of •upport ¢osts ACtftY. R•liof of $icknes¥ and Injury 2024 Tot41 funds 2024 Tot•1 fund¥ 2023 Bank charges General opgrating expenditure Accountancy fees Independent Exarnine¢$ remuneralion 262 262 77 750 900 750 1,989 1.989 164 The Charity had no employees in th$ Current or prior ar. Analysls of grants Grants to In$lilutions 2024 Tgtal funds 2024 Total funds 2023 Grants. Activty- Relief of sickness and injury 159,324 159,324 8,566 The Charity has made the following material grants to institutions during the year.. 2024 2023 Name of instltutlon Hatzola HBS Llmited 159,324 8,566 159,324 8,566 The grants paid in the current and prior year were lo fund the set up of an ambulance service in Bamet in Ilne with the Charitys oty'ectives. IndOnonI •xaminoVs rernun?ratlon The independent examin&s remuneration amounls to 0 (2023- £Nil). Page11
BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Trustees. remuneratlon and expenses During the year. no Trustees reiVed any remunoration or othgr bengfrts (2023- £NILI. During the ar ended 30 Novemb¢r 2024. no Trustee expenses have been incurred (2023 - £NIL). 10. Cr•ditors: Amounts lalllng due wlthln one year 2024 2023 ACelS and deferred Income 9fXI 11. Slatomgnt of funds Ststement of funds - current year Balance at 30 November 2024 Bal•n¢e at 1 December 2023 InGome Expendlture Unrestrlcted fvnds General Funds 137.326 315.bY)4 (161,3131 291,917 Statement of funds - prlor y•ar BalanGo at 30 Novemb•r 2023 Income Expendlture Unrestrlcted fvndg General Funds 146,056 (8,7301 137.326 Page 12
BARGATEWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 12. Analy•ls of n•t asmts b•tw••n funds Analysi¥ of not asMts bolwo•n funds - curr•nt perlod Unr•strlcted funds 2024 Total funds 2024 Current assets Creditors due within one year 292,817 {9001 292,817 19001 Total 291.917 291,917 Anaty818 ol net assets between funds - prlor perfod Unrestrlctod funds 2023 Total fund8 2023 Current assets 137,326 137.326 Total 137.326 137,326 13. Relaled party iransaGtlons The Charity has not entered into any related party transaction during th8 year, nor are there any istandlng balan¢es ¢)wlng between related partles and the Charity at 30 November 2024. Paga 13