DoCugn Envdope ID. 62FSC324-FB524SAF-A4A7-551EB9539822 EDWARD BIBBY FUND UNAUDITED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 CHARITY NUMBER - 200593
DocUgn Envdope ID. 62F5C32*FB5245AFWA7-551EB9539822 EDWARD BIBBY FUND TRUSTEES REPORT FOR THE YEAR ENDED 30TH JUNE 2024 The Trustees present their annual report and financial statements of the charity for the year ended 30th June 2024. The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charilies.. 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 1021. OBJECTIVES AND ACTIVITIES The Trust has been established to make grants for charitable purposes. Grants are only made lo charities known lo the settlor and unsolicited applications are therefore not considered. Public Benefit The trustees have given consideration to the Charity Commission guidance on public benefit. ACHIEVEMENTS AND PERFORMANCE Investments have been managed throughout the year by the Investment Managers, with performance being monitored by the Trustee. The Trust has therefore been able to maintain its grant-making programme. FINANCIAL REVIEW Total income of £28,290 {2023'. £24,302) was reiVed during the year. This funded grants of £17,922 (2D23'. £41,486) to charitable organisations. Capital investments were valued al £979,27712023'. £898,616) at the year end. Reserves Policy The trust deed permits the spending of capital,. the trustee has, however, agreed to retain the capital for the time being and to invest it to produce income to make grants. The trustee is managing the reserves to balance the needs of current and future beneficiaries. It is not anticipated that the needs of beneficiaries will diminish over time. Investment Policy and Powers: The Trustee has the power of investment conferred by the Trustees Act 2000. The investment strategy is set by the trustees and takes account of recent demands for funds and an assessment of expected future needs {see Reserves Policy). The investment policy and strategy are reviewed with the investment manager al regular intervals. The investment objective is to maintain, overall, the real value of capital and income. Risk Management: The main risks to which the charity is exposed as identified by the Trustee have been considered and systems have been established to mitigate those risks.
DoC*¢n Envebptt ID.. 62F5C324-FB5245AFA4A7_S51EB9539822 EDWARD BIBBY FUND TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2024 TH Plans for The Future The objectives remain unchanged for the future., the intention is for continued investment management on a consistent basis and distribution of income lo charitable organisations. structure, Governance and Management The Trust was established by a Trust Deed dated 11th October 1960, charity number 200593 and is administered by its corporate Trustee, Liverpool Charity and Voluntary Services. REFERENCE AND ADMINISTRATIVE DETAILS Name Edward Bibby Fund Charity number 200593 Principal Office LCVS 151 Dale Street Liverpool L2 2AH Liverpool Charity and Voluntary Services {LCVSI, a corporate trustee, which is incorporated under the Companies Act as a company limited by guarantee without share capital as company number 181759, 8 registered charity, number 223485, and charitable Trust Corporation. LCVS trustees, who are also its directors, were as follows during the year. Sonia Bassey MBE Mike Thomas Dorcas Akeju Sonia Bassey MBE Maxine Ennis Anna James Dr Hardamanjit R Kaur Ken Perry John Price Anne Reading Michael Salla Louise Scholes Gemma Shone James A Sloan Neil John Slumiey Mike Thomas Trustees Chair Treasurer (Appointed 1P October 2024) (Appointed 17th October 2024) (Resigned 2nd September 2024) (Resigned 4th November 2024) (Appointed 17th October 2024) (Resigned 30th June 20241 Secretary Independent Examiner Helen Rotheram Paula Sanchez ACCA Score Lane Liverpool, L16 5EF
DSlOn Envelope ID.. S2F5C324-FB5245AFA4A7.55IEB9S39822 EDWARD BIBBY FUND TRUSTEES REPORT FOR THE YEAR ENDED 30 JUNE 2024 TH Investment Managor Investec Wealth and Investment The Plaza 100 Old H811 Street Liverpool, L3 gAB TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity Irustee is responsible for preparing a trustee's annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England and Wales requires the charity trustee to prepare financial statements for each year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustee is required to.. select suitable accounting policies and then apply them consistenlly., obseNe the methods and principles in the applicable Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any malerial departures that must be disclosed and explained in the financial stalements., prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charity will continue in business. The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. It is also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustee and signed on its behalf by Mike Thomas LCVS Trustee 03/03/2025 Date......
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EDWARD BIBBY FUND report to the trustee on my examination of the accounts of Edward Bibby Fund {'the charity'l for the year to 30th June 2024, which are set out on pages 6 to 12. Responsibilities and basis of report As the trustee of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the 2011 Act'i. I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and 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. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the accounts present a 'true and fair view, and my report is limited to those specific matters set out in the independent examiner's statement. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requirements concerning the form and conlenl 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 accounts to be reached. Name.. Paula Sanchez Name of applicable listed body.. Association of Chartered Certified Accountants Relevant professional qualification or body.. ACCA Date: 241312025
Dcu¥gn Env ID. 62F5C32¥FB5245AF-A4A7-551EB9539822 EDWARD BIBBY FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted Funds Capital Funds 2024 Notes Income Funds 2024 Total 2024 Total 2023 Income from: Investments 28,290 28,290 24,302 Total income 28,290 28,290 24,302 Expenditure on: Charitable activities 23,987 23,987 45,801 Total expenditure 23,987 23,987 45,801 Net income and net movement in funds before gain on investments 4,303 4,303 121,4991 Net gainlllossl on investment assets 80,661 80,661 6,207 Net movement in funds 4,303 80,661 84,964 (15,5921 Reconciliation of funds.. Total funds brought forward 41,762 898,616 940,378 955,670 Total funds carried forward 46,065 979,277 1,025,342 940,378 The notes on pages 9 10 12 fomi part of these accounts. The net movement in the funds in the year is derived from the continuing activity of the charity. All of the charity's funds are unrestricted for years ended 30th June 2024 and 30th June 2023.
Docusign Envebpe ID. 62FSC324FB5245AF-A4A7-551EB9539822 EDWARD BIBBY FUND BALANCE SHEET AS AT 30TH JUNE 2024 Notes 30thJune 2024 30th June 2023 Fixed Assets Investments 979,277 898,616 Current Assets Cash balance 47,790 42,977 Current Liabilities Creditors {1,725) {1,215) Net Current Assets 46,065 41,762 Net Assets 1,025,342 940,378 The funds of the Charity: Unrestricted Funds: Capital Funds Income Funds 979,277 46,065 898,618 41,762 1,025,342 940,378 Approved and authorised for issue by the Trustee and signed on its behalf by br. 9BBB3551D1fg4AC Mike Thomas- LCVS Trustee 03103/202 5 Dated:
D(tLL41on Envek)pe ID.. 62F6C324_FB5245AF-A4A7.551EB9539822 EDWARD BIBBY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 TH 1. ACCOUNTING POLICIES Basis of Accounting The financial statements have been prepared in accordan with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102} (SORP 20191 and the Financial Reporting Sl8ndard applicable in the United Kingdom and Republic of Ireland {FRS102) and Charities Act 2011. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless olhetwise stated in the relevant note(s) lo these accounts The trust constitutes a public benefit entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slatements are rounded to the nearest £. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concern At the time of approving the accounts, the trustee has reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustee continues to adopt the going concem basis of accounting in preparing the accounts. Investments In accordance with Slatement of Recommended Practice.. Accounting and Reporting by Charities (SORP 20191, inveslmenls held as fixed assets are stated at fair value. Realised and unrealised gains and losses are dealt with as movements on the Capital Fund. Inveslments are valued at the mid-market price on the valuation date. Fund accounting Unrestricted funds are considered 'free' reserves and are available for use or retention at the discretion of the Trustees, in accordance with the charity's objectives. Free reserves are undesignaled funds available for the furtherance of the general objectives of the charity. Income recognition Income from investments comprises dividend income and interest and are accounted for when received in the financial year. Donations are recognised at the earlier of notification or date of receipt, in the case of the Ihird-party donations and legacy income when received by the organisation. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilling the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual basis. All expenses, including support and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.
DocvsigTr Enveh)pe ID." 62F5C324-FB5245AF_A4A7.SS1EB9539822 EDWARD BIBBY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 Raising funds costs relate to expenses incurred in the management of the investment assets. Charitable activities include grant funding, along with associated support costs, to beneficiaries. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Governance costs relate to Complian with constitutional and statutory requirements and specifically include all costs incurred by the charity in producing the Annual Report. 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. Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financi81 instrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price inc5uding 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 finanoial liabilities Basic financial liabilities, including credilors 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt instruments are subsequently carried at amortised cost, using Ihe effective interest rale method. Derecognition of financial liabilities Financial liabilities are derecognised when the charrty's contractual obligations expire or are discharged or cancelled. Taxation The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation lax on income or gains falling within those exemptions. Partial recovery is made of tax credits on UK dividend income. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.
DOCugn Envelop2 ID. 62F5C324F85245AF-A4A7-551E89539822 EDWARD BIBBY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 Critical Accounting Estimates and Judgements In the application of the charity's accounting policies, the trustees are required lo 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 experien and olher factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going 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 currenl and future periods. 2. Income and endowments from: Income Capital Total Total 2024 2024 2024 2023 Investments Investments dividends and interest 28,290 28,290 24,302 3. Expenditure on charitable activities: Analysed as follows.. 2024 2023 Direct charitable expenditure.. Grant funding Grant support - LCVS Grant making administration costs - LCVS 17,922 4,340 943 41,486 3,100 810 23,205 45,396 2024 2023 Support & Govemance costs.. Administration - LCVS Independent examination 472 310 405 782 405 Totsl expenditure on charitable a¢tivities 23,987 45,801 io
DU519 Enveloptr ID.. 62FSC32*FB5245AF-A4A7-551EB9539822 EDWARD BIBBY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 TH During the year the following grants were made.. Grants to organisations of £1,000 and over Cornerstone Collective Corporation of Liverpool Cathedral Love, Jasmine Tower Hill ACB CIC Unity Theatre 1,680 2,500 2,400 2,160 2,982 11,722 6,200 Grants under £1.000 17,922 4. Fixed Asset Investments 2024 2023 Quoted Investments: Market value at 1st July 2023 Unrealised gainlllosses) on investment assets 898,616 80,661 892,409 6,207 Market value at 30th June 2024 979,277 898,616 Book value at 30th June 2024 100,657 100,657 The tNst holds all of its fixed asset investments in a Charity Commission approved pooling scheme, the Settlors, Trust Fund ISTF), administered by Liverpool Charity and Voluntary Services and, al the balance sheet date, managed by Investec Wealth & Investment. At 30th June 2024, the assets of the STF fund had a total market value of £33,821,44312023.' £31,099,741} of which £979,27712023. £898,616) is an asset of the trust. 5. Creditors 2024 2023 Administration - LCVS Independent examination fee 1,415 310 1,215 1,725 1,215 li
Docusign Envebpe ID.. 62F5C324_FB5245AFA4A7.551EBg539822 EDWARD BIBBY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 TH 6. Unrestricted Funds Income Fund.. Investment income and donations received for distribution as grants to charitable voluntary organisations. Capital Fund.. Funds held provide income for the ongoing activities of the trust. 7. Related Party Transactions Charitable Activities.. Ihese include £4,340 (2023.. £3,100) LCVS grant support and £943 {2023'. £8101 grant making administration costs payable to LCVS. Governance Costs= these include £53212023.. £4051 payable lo LCVS in respect of accountancy and trust adminislralion. Creditors.. balance includes £1,475 (2023.. £1,215) payable to LCVS at the year end. LCVS is related to the Fund by virtue of being the corporate trustee. No trustee received remuneration or expenses as part of their role as Trustee of the charity. 12