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2022-12-31-accounts

Charity registration number: 201418

Banbury Charities

Annual Report and Financial Statements

for the Year Ended 31 December 2022

Banbury Charities

Contents (continued)

Reference and Administrative Details 1 to 2
Trustees' Report 3 to 11
Independent Auditors' Report 12 to 15
Statement of Financial Activities 16 to 17
Balance Sheet 18
Cash Flow Statement 19
Notes to the Financial Statements 20 to 40

Banbury Charities

Reference and Administrative Details

Chairman C G Clarke Trustees J M Colegrave J P Briggs J W May C G Clarke A M Heritage J T Blinkhorn V J Fisher M A Humphris J A Donaldson S J Williams P A Chapman I A Harwood Clerk to the Trustees Mrs M J Tarrant 36 West Bar Banbury Oxfordshire OX16 9RU Charity Registration Number 201418 Principal Office 36 West Bar Banbury Oxfordshire OX16 9RU Auditor Buzzard's Accountancy Limited Chartered Certified Accountants 95 Sinclair Avenue Banbury Oxfordshire OX16 1BQ

Page 1

Banbury Charities

Reference and Administrative Details (continued)

Solicitors Aplins 36 West Bar Banbury Oxon OX16 9RU Bankers Lloyds Bank Plc 12 High Street Banbury Oxon OX16 5EF Property advisors White Commercial Suveyors Ltd Charter Court 49 Castle Street Banbury Oxon OX16 5NU

Page 2

Banbury Charities

Trustees' Report

The trustees present the annual report together with the financial statements and auditors' report of the charity for the year ended 31 December 2022.

Objectives and activities

Objects and aims

The charities’ objects, as set out in the Charity Commission Schemes, are applicable to those within a five mile radius of Banbury Cross or, in the case of the Banbury Poor Trust, within ten miles and are as follows:

Bridge Estate Charity

To benefit inhabitants for whom provision is not made out of rates, taxes or other public funds. In making grants to the Trustees of other Charities for the benefit of the inhabitants of the area of the Borough of Banbury.

Countess of Arran’s Charity (known as Lady Arran’s Charity)

To assist beneficiaries who are preparing for, entering upon, or engaged in any profession or trade, occupation or service by providing them with outfits or by payment of fees, travelling expenses or by such other means for their advancement in life or to enable them to earn a living.

To promote the education (including social and physical training) of beneficiaries.

In providing such special benefits of any kind not normally provided by the local education authority for any school in the said area.

"Beneficiaries" of this charity means “young persons who have not attained the age of 25 years who in the opinion of the Trustees are in need of financial assistance”.

Within the Countess of Arran's Charity sits a sub-fund, known as The Brodey Fund, the key objects of which are as follows:

To assist young persons under the age of 25 years who are in need of financial assistance to fund their studies specifically to support those studying science, technology, engineering and mathematics.

To provide support in relation to course fees, costs of equipment, materials or study aids, transport costs and other costs that the Trustees believe are in the spirit of the Donor’s Wishes with an amount offered to an individual at the discretion of the Trustees.

Page 3

Banbury Charities

Trustees' Report (continued)

Banbury Arts and Educational Charity

To assist schools, colleges or other institutions of further education in providing facilities for the promotion of education in the arts, literature and science.

To assist young persons under the age of 25 years in that area in need of financial assistance who are studying the arts, literature or science at such institutions.

Banbury Almshouses Charity

To provide and maintain almshouses accommodation for poor persons.

Banbury Sick Poor Fund

To benefit sick poor persons by:

Banbury Welfare Trust

To relieve persons who are in conditions of need, hardship or distress.

To pay for such items, services or facilities by way of donations or subscriptions to institutions or organisations which provide or which undertake to provide such items, services or facilities for such persons.

Banbury Poor Trust

To benefit:

Banbury Recreation Charity

To provide or assist in the provision of facilities for the physical recreation of the inhabitants of the town of Banbury and the neighbourhood thereof in the interests of social welfare in order to improve their conditions of life.

Page 4

Banbury Charities

Trustees' Report (continued)

Public benefit

The Trustees of Banbury Charities continue to provide support to those in need within the community whose requests accord with the objects of the Charities.

These objects, with the exception of those of Banbury Almshouse Charity, are met by inviting applications for grants from both individuals and organisations resident in or within a five mile radius of Banbury or, in the case of the Banbury Poor Trust, within a ten mile radius. The Trustees will then review each application in detail and, when considered necessary and appropriate, meet the applicants and visit the projects to establish the merits of each application and the benefits to the community from such projects.

A decision is then made by the Trustees collectively (by way of majority) at regular trustees’ meetings as to the level of grants to be awarded to each applicant. Grants to students are determined by a fixed scale dependent upon the level of parental income.

The objects of the Banbury Almshouse Charity are met by the upkeep and running of an Almshouse in Banbury which comprises separate accommodation for six occupants and for which a weekly maintenance charge is paid by the occupants. The Almshouse may not be sold by the Trustees.

There have been no material changes in the policies adopted by the charity in order to further its objectives since the previous financial year end.

Individuals applying for help are encouraged to obtain a letter of support from their social worker, carer or other persons in authority to support and give credence to their application.

When monies are advanced to individuals cheques are made payable whenever possible to the supplier of the items required as opposed to the individual applicant thereby ensuring that monies are used for the purpose intended.

Similarly when monies are applied in respect of, for example, building works, monies are not made available until confirmation is received from the applicant that the balance of monies required to complete the project are available, thus ensuring that monies are not granted for projects which do not proceed. Trustees will frequently attend projects upon completion to ascertain that monies have been properly applied and that the project accords with the terms of the original application.

In general the Trustees respond to applications for assistance rather than create their own projects and, in view of this, their aims and key objectives are to safeguard and grow the Charities’ assets whilst utilising income to further the Charities’ Objects.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 5

Banbury Charities

Trustees' Report (continued)

Achievements and performance

In furtherance of its charitable objectives, the charities paid a total of 66 Grants to institutions during the year (2021 - 31) of which 54 were for £1,000 or more (2021 - 23) as disclosed in the notes to the accounts. The charities paid a total of 191 grants to individuals during the year (2021 - 156). The average level of grants paid to individuals was £396 (2021 - £428).

The Trustees’ objectives of achieving sustained income to meet the ongoing needs of the beneficiaries and claimants on the charities’ funds, and of capital growth to meet income requirements into the future were considered to be met.

The Trustees meet the fund manager on a biannual basis and have expressed a requirement for a mix of capital growth and income. The Charities' objectives are to promote medium to long term capital growth in order to maintain or improve the real value of the fund and to generate a reasonable level of income to finance the ongoing calls on the charities' funds.

The funds are measured against the FTSE 100 and the FTSE all share index and against various other standard market comparators. Rental levels are measured against market figures achievable on the occasion of each rent review relying upon the professional advice from the Charities' Property Surveyor and Valuer.

Banbury Charities' grant making policy ensures that its expenditure meets its charitable objectives and aims.

The Brodey Fund: Banbury Charities have been fortunate to receive a further philanthropic gift this year of £125,000 plus Gift Aid £31,250 being the final contribution originally committed to make available to assist those in need of financial support while studying STEM subjects.

Given the economic situation the benefactor was very keen for the donation plus associated gift-aid, or at least some of it, to be used during 2022 to assist those in immediate need living in Banbury in view of the economic situation which had already and would continue to affect so many vulnerable families, individuals and the elderly.

As at 31st December 2022 £60,500 had been awarded to various organisations which has had a huge impact in not just one section of the community but right across working families, pensioners and those on benefits who could not afford to heat their homes or feed their families.

Further income shares have been purchased with the residual sum of £90,000 which has been added to the capital held within the portfolio in CCLA Charities Official Investment Fund. Due to the economic climate the Brodey Fund capital decreased in value by just over £180,000 for the period. Value at year end £1,353,119 (2021 - £1,443,501).

Page 6

Banbury Charities

Trustees' Report (continued)

Financial review

The financial transactions during the year and the charities’ financial position at the year end are set out in the Statement Of Financial Activities and the Balance Sheet.

The main source of income for the charities accrues from the rent of commercial property within the town but income also derives from further funds invested with COIF and M&G. The investment policy is reviewed at each biannual review and also in between such reviews whenever the financial manager might introduce a new ethical financial product.

The income referred to above is expended in meeting such applications for assistance as fall within the charities’ terms of reference and which are regarded by the trustees as being meritorious.

The Trustees consider that the charities’ financial position at the end of the year is satisfactory.

Policy on reserves

The Trustees have established a general reserves policy to ensure that Banbury Charities can maximise its programme for beneficiaries and manage the impact of any unplanned fluctuations in the value of its net income. General reserves provide some protection to the organisation and its charitable programme and provide time to adjust to changing financial circumstances. As at 31 December 2022 the free reserves of the charities are £139,077 (2021 - £80,270). Notwithstanding this the Trustees consider that the current level of free reserves is sufficient to enable the charities to meet their charitable objectives and will therefore continue the policy of distributing incoming resources by way of grants.

Restricted funds at 31 December 2022 totalled £42,527 (2021 - £42,523) of which the reserves policy is set out in the notes to the accounts. There were also endowment funds at 31 December 2022 totalling £8,464,929 (2021 - £9,011,996) of which the reserves policy is included in the notes to the accounts.

The notes to the accounts shows the assets and liabilities attributable to the various funds by type. These assets, with the exception of the Almshouse property which cannot be sold by the Trustees, are available and sufficient to meet the charities' obligations on a fund-by-fund basis.

Details of the charities' commitments are set out in the notes to the accounts.

Page 7

Banbury Charities

Trustees' Report (continued)

Plans for future periods

Aims and key objectives for future periods

As for the future of the charity, the Trustees will continue to endeavour to maintain the capital base of the charity so far as possible in these difficult financial times and to meet the requests emanating from local organisations and individuals in need, notwithstanding a reduction in income.

A content-managed website has been designed with a view to bring Banbury Charities to the attention of those who are unaware of the charity and who would benefit from assistance www.banburycharities.co.uk.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: J M Colegrave J P Briggs J W May C G Clarke A M Heritage J T Blinkhorn N A Mepham (resigned 14 August 2022) V J Fisher M A Humphris J A Donaldson S J Williams P A Chapman (appointed 30 November 2022) I A Harwood (appointed 30 November 2022) K P Mallon (resigned 25 March 2022) Chairman: C G Clarke

Page 8

Banbury Charities

Trustees' Report (continued)

Structure, governance and management

Nature of governing document

Banbury Charities is a group of eight registered charities (registration number 201418). The charity's governing document comprises: scheme dated 20 January 1971 as amended by schemes dated 13 August 1979, 1 September 1999 and 2 July 2003.

Recruitment and appointment of trustees

The Trustees of the charities are all unpaid volunteers consisting of nominative Trustees, appointed by Cherwell District Council for a term of four years each, and co-opted Trustees, being residents or business persons of the Banbury area appointed by the Trustees for a term of five years, due care and attention being paid to an individual’s eligibility and competence. Any competent Trustee may be re-appointed at the end of their term of appointment.

Induction and training of trustees

The Trustees operate with the assistance of a permanent Legal Clerk. Whenever a new Trustee is appointed the Clerk will take the Trustee through each of the Trust Schemes administered by the Charity and emphasis is given to the requirements and objects of each Trust and the matters to which the Trustees need to give regard when dealing with applications for grants. The new Trustee signs a declaration for fit and proper persons to comply with the Charities Act 2011.

Organisational structure

The management structure of the charities consists of the clerk to the Trustees and her assistant who administer the charity on a part-time basis for a set fee as agreed annually by the Trustees.

Major risks and management of those risks

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The main risk to the charity is the volatility of the commercial rental market and the ability to let their commercial properties. The Trustees are mitigating this risk by consistently evaluating the properties held and enlisting a professional advisor to assist with their portfolio strategy.

2022 saw inflation reach its highest level in 41 years, the Government responded with household cost of living support for 2022/2023.

Page 9

Banbury Charities

Trustees' Report (continued)

It is expected that the rising cost of living will continue to affect many families, pensioners and those on benefits living in the borough of Banbury during 2023.

The Trustees have assessed its impact and expect to receive further requests from organisations assisting those who are unable to afford to heat their homes or feed their families or themselves, increased requests from those on low income for white goods, carpets, and school uniforms; possible increases in requests for support in mental health and wellbeing initiatives; and possible increase in requests for technology, such as iPads, from schools and individuals.

The Trustees will continue to manage the charity through this position.

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 10

Banbury Charities

Trustees' Report (continued)

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 12 April 2023 and signed on its behalf by:

C G Clarke

Chairman and trustee

Page 11

Banbury Charities

Independent Auditor's Report to the Members of Banbury Charities

Opinion

We have audited the financial statements of Banbury Charities (the 'charity') for the year ended 31 December 2022, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Page 12

Banbury Charities

Independent Auditor's Report to the Members of Banbury Charities (continued)

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 10), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 13

Banbury Charities

Independent Auditor's Report to the Members of Banbury Charities (continued)

Auditor Responsibilities for the audit of the financial statements

We have been appointed as auditor under section 1443 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Page 14

Banbury Charities

Independent Auditor's Report to the Members of Banbury Charities (continued)

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Valerie Anne Buzzard (Senior Statutory Auditor) For and on behalf of Buzzard's Accountancy Limited, Statutory Auditor

95 Sinclair Avenue Banbury Oxfordshire OX16 1BQ

12 April 2023

Buzzard's Accountancy Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 15

Banbury Charities

Statement of Financial Activities for the Year Ended 31 December 2022

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Gains/losses on investment
assets
9
Net income/(expenditure)
Gross transfers between
funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
183,895
22,323
325,818
532,036
(32,071)
(341,311)
(373,382)
(4,097)
154,557
(95,750)
58,807
80,270
139,077		 Restricted
funds
£
-
-
4
4
-
-
-
-
4
-
4
42,523
42,527		 Endowment
funds
£
-
-
-
-
-
-
-
(642,817)
(642,817)
95,750
(547,067)
9,011,996
8,464,929		 Total
2022
£
183,895
22,323
325,822
532,040
(32,071)
(341,311)
(373,382)
(646,914)
(488,256)
-
(488,256)
9,134,789
8,646,533

The notes on pages 20 to 40 form an integral part of these financial statements. Page 16

Banbury Charities

Statement of Financial Activities for the Year Ended 31 December 2022 (continued)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Gains/losses on investment
assets
9
Net income
Gross transfers between
funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
26,905
22,130
298,569
347,604
(78,422)
(244,883)
(323,305)
3,854
28,153
(5,124)
23,029
57,241
80,270		 Restricted
funds
£
-
-
232
232
-
-
-
-
232
5,124
5,356
37,167
42,523		 Endowment
funds
£
156,250
-
-
156,250
-
-
-
797,221
953,471
-
953,471
8,058,525
9,011,996		 Total
2021
£
183,155
22,130
298,801
504,086
(78,422)
(244,883)
(323,305)
801,075
981,856
-
981,856
8,152,933
9,134,789

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 20.

The notes on pages 20 to 40 form an integral part of these financial statements. Page 17

Banbury Charities

(Registration number: 201418) Balance Sheet as at 31 December 2022

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
16
Creditors: Amounts falling due within one year
17
Net current assets
Net assets
Funds of the charity:
Endowment funds
Restricted income funds
Restricted funds
20
Unrestricted income funds
Unrestricted funds
Total funds
20		 2022
£
1,000,000
7,595,796
8,595,796
10,644
220,751
231,395
(180,658)
50,737
8,646,533
8,464,929
42,527
139,077
8,646,533		 2021
£
900,000
8,212,195
9,112,195
5,574
205,130
210,704
(188,110)
22,594
9,134,789
9,011,996
42,523
80,270
9,134,789

The financial statements on pages 16 to 40 were approved by the trustees, and authorised for issue on 12 April 2023 and signed on their behalf by:

C G Clarke Chairman and trustee

The notes on pages 20 to 40 form an integral part of these financial statements. Page 18

Banbury Charities

Cash Flow Statement for the Year Ended 31 December 2022

Note
Cash flows from operating activities
Net cash (expenditure)/income
Adjustments to cash flows from non-cash items
Investment income
4
Loss on disposal of investments
Revaluation of investments
Working capital adjustments
(Increase)/decrease in debtors
15
(Decrease)/increase in creditors
17
Increase in deferred income
Net cash flows from operating activities
Cash flows from investing activities
Investment income
4
Purchase of investments
14
Sale of investments
Net cash flows from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 2022
£
(488,256)
(325,822)
5,283
641,631
(167,164)
(5,070)
(12,552)
5,100
(179,686)
325,822
(420,232)
289,717
195,307
15,621
205,130
220,751		 2021
£
981,856
(298,801)
-
(801,073)
(118,018)
3,640
6,554
1,892
(105,932)
298,801
(321,482)
50,000
27,319
(78,613)
283,743
205,130

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 20 to 40 form an integral part of these financial statements. Page 19

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Banbury Charities meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Critical 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 estimates.

The estimates and judgements made are in relation to the value of investment properties, freehold property and listed investments. 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.

Income and endowments

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Incoming resources from endowment funds are unrestricted.

Page 20

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Donations and legacies

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Investment income

Rental income represents the total amount receivable for the year in respect of properties owned by the charities and let to tenants under short-term leases.

Income from listed investments comprises dividends received on investments with the Charities' Official Investment Fund and Municipal & General Charity Multi Asset Fund.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

Raising funds

Costs of generating funds comprises solely of the running costs of the investment properties.

Charitable activities

Charitable activities include expenditure associated with the almshouses and all grants paid in accordance with the charities objectives and aims.

Grant expenditure

Grants payable are charged to the income and expenditure account in the period at which they have been approved and committed and a constructive obligation exists. Any grants approved in principle but where conditions attached to the award have not yet been met are included in the notes to the accounts as commitments.

Governance costs

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Page 21

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes

Restricted funds are subject to specific conditions as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

Expendable endowment funds must be held as capital assets by the charities, The trustees have the power (but not a duty) to convert the capital into income and apply it in accordance with the charitable objects.

Permanent endowment funds must be held as capital assets by the charities. The trustees do not have the power to convert the capital into income.

Further explanation of the nature and purpose of the charities' funds and of transfers between funds, including allocations to designated funds, is included in the notes to the accounts.

Page 22

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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 including 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 financial liabilities

Basic financial liabilities, including creditors and bank loans 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

Page 23

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

2 Income from donations and legacies

Donations and gifts
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
183,895
183,895
26,905		 Endowment
funds
Expendable
£
-
-
156,250		 Total
funds
£
183,895
183,895
183,155

Grants made from Bridge Estate to the Banbury Welfare Trust and Lady Arran's are included within donations and gifts, and in grants payable in the Statement of Financial Activities.

3 Income from charitable activities

Almshouse maintenace charges
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
22,323
22,323
22,130

4 Investment income

Interest receivable
Income from listed investments
Income from rents		 Unrestricted
funds
General
£
14
156,247
169,557
325,818		 Restricted
funds
£
4
-
-
4		 Total
2022
£
18
156,247
169,557
325,822

Page 24

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Interest receivable
Income from listed investments
Income from rents		 Unrestricted
funds
General
£
2
147,846
150,721
298,569		 Restricted
funds
£
232
-
-
232		 Total
2021
£
234
147,846
150,721
298,801

5 Expenditure on raising funds

5 Expenditure on raising funds
Investment property and insurance expenses
Rates
Light and heat
Insurance
Clerk fees
Repairs and renewals		 Unrestricted funds
Total
Total
2022
£
2021
£
(20,800)
10,432
409
809
11,393
10,433
26,064
24,336
15,005
32,412
32,071
78,422
78,422

6 Expenditure on charitable activities

Almshouse property expenses
Grant funding of activities
Support costs
Governance costs		 Activity
undertaken
directly
£
14,071
-
-
-
14,071		 Grant
funding of
activity
£
-
277,810
-
-
277,810		 Activity
support
costs
£
-
-
32,580
16,850
49,430		 2022
£
14,071
277,810
32,580
16,850
341,311

Page 25

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Almshouse property expenses
Grant funding of activities
Support costs
Governance costs		 Activity
undertaken
directly
£
18,181
-
-
-
18,181		 Grant
funding of
activity
£
-
181,286
-
-
181,286		 Activity
support
costs
£
-
-
30,420
14,996
45,416		 2021
£
18,181
181,286
30,420
14,996
244,883

7 Analysis of governance and support costs

Charitable activities expenditure

Almshouse property expenses
Repairs and renewals
Insurance
Light and heat
Rates
Telephone
Subscriptions
Professional fees		 Unrestricted funds
2022
£
2021
£
6,729
10,327
1,193
1,127
3,513
4,384
769
532
1,534
1,618
187
182
146
11
14,071
18,181		 Unrestricted funds
2022
£
2021
£
6,729
10,327
1,193
1,127
3,513
4,384
769
532
1,534
1,618
187
182
146
11
14,071
18,181
18,181

Page 26

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Support costs allocated to charitable activities

Basis of
allocation
Clerk fees
50% of fees
Total for 2022
Total for 2021		 Support
costs
£
32,580
32,580
30,420

Governance costs

Audit fees
The audit of the charity's annual accounts
Accountancy fees
Clerk fees		 Unrestricted funds
2022
£
2021
£
8,297
7,197
2,037
1,713
6,516
6,086
16,850
14,996		 Unrestricted funds
2022
£
2021
£
8,297
7,197
2,037
1,713
6,516
6,086
16,850
14,996
14,996

8 Grant-making

Analysis of grants

Analysis of grants
Analysis
Grants to individuals (191, 2021
- 156)
Grants to institutions (see below)		 Grants to institutions
2022
£
2021
£
-
-
202,259
133,822
202,259
133,822		 Grants to individuals
2022
£
2021
£
75,551
47,464
-
-
75,551
47,464
47,464

Page 27

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Grants paid to institutions:

Bridge Estate
Banbury Community Church
Banbury PHAB Club
Banbury Welfare Trust
British Red Cross
Citizens Advice Bureau
Dementia Active
Dogs for Good
ENRYCH Oxfordshire
Helen & Douglas House
IMPS Oxford Hospitals Charity
Katharine House Hospice
Life Education
Longford Park Primary School
MyVision Oxfordshire
Nicodemus Trust
Orchard Fields Community School
Rotary Club of Banbury
Royal Voluntary Service
Samaritans Banbury & District
St. Joseph's Primary School
St. Mary's Church
St Thomas of Canterbury Church
Style Acre Banbury
Sunrise Multicultural Project
Swalcliffe PC
Tooley's Boatyard Trust
Voices Across Time
Other (4 < £1,000, 2021 - 7)		 2022
£
-
900
27,000
-
3,900
21,000
(9,005)
2,500
3,000
3,400
15,900
2,000
-
1,000
-
4,715
1,500
4,000
2,043
2,000
1,000
2,500
-
1,000
1,000
-
1,200
1,442
93,995		 2021
£
2,200
1,050
26,000
2,250
-
-
9,005
-
-
8,276
20,000
2,000
3,531
-
2,000
-
1,000
-
-
-
1,000
-
5,000
-
-
5,000
-
2,410
90,722

Page 28

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Lady Arrans
Other (4 < £1,000, 2021 - 0)
Arts and Educational
Cherwell Theatre Company
Banbury Recreation Charity
Banbury & District Canoe Club
Banbury Boxing Club
Banbury Cricket Club
Banbury Indoor Cricket Club
Banbury Rugby Union FC
Banbury Sea Cadets
Banbury United Community FC
Easington Sports FC
Julie Bruce Dance Academy
Oxfordshire Play Association
Puritans Radio
Rotary Club of Banbury Cherwell
Wroxton Sports Club
Other (3 < £1,000, 2021 - 0)
Banbury Poor Trust
B.Y.H.P.
Bishop Loveday School
Bloxham CE Primary School
Citizens Advice Bureau
Hill View School
OCC Banbury Children's Social Care
OCC Banbury Early Help Team
Orchard Fields CPS
Queensway School
RVS Cornhill Community Companions		 2022
£
2,739
2,739
2,000
2,000
-
2,500
3,750
1,500
8,000
5,000
7,600
8,397
-
1,000
2,000
1,500
-
1,778
43,025
3,000
2,500
2,500
20,000
2,500
1,250
1,250
2,500
2,500
2,500		 2021
£
-
-
1,800
1,800
9,036
-
-
-
-
-
21,896
-
1,000
2,000
1,500
1,500
4,368
-
41,300
-
-
-
-
-
-
-
-
-
-

Page 29

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

St. Leonard's CE School
St. Joseph's School
St. Mary's School
The Grange CPS
The Sunshine Centre		 2022
£
2,500
2,500
2,500
2,500
10,000
60,500
202,259		 2021
£
-
-
-
-
-
-
133,822

9 Net incoming/outgoing resources

Net incoming resources for the year include:

(Loss)/profit on disposal of investments
Revaluation (loss)/gain of investments - unrestricted funds
Revaluation (loss)/gain of investments - endowment funds		 2022
£
(5,283)
(4,097)
(630,596)		 2021
£
-
3,854
797,221

10 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year or prior year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year or prior year.

11 Employees

There were no employees during the year or prior year.

12 Taxation

The charity is a registered charity and is therefore exempt from income tax but not from Value Added Tax. Irrecoverable VAT is included in the cost of those items to which it relates.

Page 30

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

13 Tangible fixed assets

13 Tangible fixed assets
Cost
At 1 January 2022
Revaluations
At 31 December 2022
Depreciation
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Freehold
property
£
900,000
100,000
1,000,000
-
1,000,000
900,000

Revaluation

The fair value of the company's freehold property (Almshouse) was revalued on 31 December 2022 by Whites Commercial, Chartered Surveyors, an independent valuer. The basis of the valuation included in the accounts is insurance value. The trustees are unable to ascertain the historical cost of the property.

14 Fixed asset investments

Investment properties
Other investments		 2022
£
2,290,000
5,305,796
7,595,796		 2021
£
2,215,000
5,997,195
8,212,195

Page 31

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Investment properties

Investment properties
Cost or Valuation
At 1 January 2022
Revaluation
Additions
Disposals
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Investment
properties
£
2,215,000
(6,938)
186,938
(105,000)
2,290,000
2,290,000
2,215,000

An external valuation of the freehold investment properties is carried out annually by White Commercial, Chartered Surveyors at the balance sheet date. The basis of valuation included in the accounts is fair value subject to existing leases. The trustees are unable to ascertain the historical cost of all the freehold properties.

The investment properties owned by the charities were as follows:

36 Calthorpe Street, Banbury
Library Buildings, Banbury
14 Canada Close, Banbury
36 Church Lane, Banbury
5 White Lion Walk, Banbury
Land at Waterstock
Canoe Club, Cropredy, Banbury
Unit 9, Glenmore Business Park, Kidlington
Unit 10, Glenmore Business Park, Kidlington
Unit 12, Glenmore Business Park, Kidlington		 2022
£
180,000
435,000
215,000
-
245,000
450,000
120,000
215,000
215,000
215,000
2,290,000		 2021
£
-
435,000
215,000
105,000
245,000
450,000
120,000
215,000
215,000
215,000
2,215,000

Page 32

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Other investments

Other investments
Cost or Valuation
At 1 January 2022
Revaluation
Additions
Disposals
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Listed
investments
£
5,997,195
(734,693)
233,294
(190,000)
5,305,796
5,305,796
5,997,195

The historical cost of the listed investments as at 31 December 2022 was £3,919,605 (2021 - £3,876,311). Listed investments are valued by reference to quoted market price. All investment assets are held within the United Kingdom.

The following listed investments held by the charity represent more than 5% of the total investment portfolio value:

Charities Official Investment Fund income shares
Bridge Estate Fund
Lady Arran's Charity
Banbury Almshouse Charity
Banbury Sick Poor Fund
Banbury Arts and Educational Charity
Banbury Welfare Trust
Banbury Poor Trust
Banbury Recreation Charity
The Brodey Fund		 2022
£
1,052,344
365,161
8,710
21,404
190,088
7,477
81,001
1,957,293
1,353,119
5,036,597		 2021
£
1,097,047
631,403
9,946
24,441
217,053
8,538
92,492
2,193,782
1,443,501
5,718,203

Page 33

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Charities Official Investment Fund accumulation shares
Bridge Estate Fund
M&G Charity Multi Asset fund
Banbury Almshouse Charity - Income shares
Banbury Almshouse Charity - Accumulation shares
15 Debtors
Prepayments and accrued income
Other debtors
16 Cash and cash equivalents
Cash at bank
17 Creditors: amounts falling due within one year
Payments received on account
Other taxation and social security
Other creditors
Accruals
Deferred income		 2022
£
130,870
2,530
135,799
138,329
5,305,796
2022
£
7,494
3,150
10,644
2022
£
220,751
2022
£
7,619
935
124,587
15,755
31,762
180,658		 2021
£
144,941
2,611
131,440
134,051
5,997,195
2021
£
4,980
594
5,574
2021
£
205,130
2021
£
12,162
643
115,450
33,193
26,662
188,110

As at 31 December 2022 there was deferred income of £4,469 (2021 - £3,845) included within accruals. This related to insurance payments from tenants received in advance.

Page 34

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

18 Operating lease payments receivable - lessor

Total future minimum lease payments receivable under non-cancellable operating leases are as follows:

follows:
Investment properties
Within one year
Between one and five years
After five years		 2022
£
97,740
91,420
1,233,333
1,422,493		 2021
£
102,958
142,982
1,280,625
1,526,565

Certain leases offer the tenant the ability to option to purchase the property under certain conditions, such as a decision to sell the property by Banbury Charities, or in the case of another property in the event a level of rental overpayments is met.

19 Commitments

As at 31 December 2022 the following grants had been approved by the trustees for future payment:

Banbury FM
Full Circle/Age Friendly Banbury
G and R Birkett
Orchard Fields School
Rotary Tour de Trigs
St Thomas of Canterbury Church Wroxton
St Peter and St Paul Church, Kings Sutton
Grants to individuals		 2022
£
6,000
10,000
5,000
3,725
-
-
5,000
5,000
34,725		 2021
£
-
10,000
5,000
4,715
5,000
2,500
-
1,535
28,750

There is no legal or constructive obligation on Banbury Charities to pay the above sums which may be contingent upon specific criteria being met, therefore they have not been provided in these accounts. It is the intention of the trustees to pay the above grants out of existing expendable endowment funds within the next twelve months.

Page 35

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

20 Funds

Unrestricted funds
Unrestricted funds
Restricted funds
Almshouse Cyclical Maintenance
Fund
Permanent endowment
Banbury Almshouse charity
Expendable endowment
Bridge Estate Fund
Lady Arran's Charity
Banbury Arts and Educational
Charity
Almshouse Extraordinary Repair
Fund
Banbury Poor Trust
Banbury Recreation Charity
Total funds		 Balance at 1
January
2022
£
80,270
42,523
912,560
3,144,018
1,876,834
567,054
225,255
92,492
2,193,783
9,134,789		 Incoming
resources
£
532,036
4
-
-
-
-
-
-
-
532,040		 Resources
expended
£
(373,382)
-
-
-
-
-
-
-
-
(373,382)		 Transfers
£
Other
recognised
gains/(losses)
£
(95,750)
(4,097)
-
-
-
98,683
-
(164,058)
95,750
(263,562)
-
(26,965)
-
1,065
-
(11,490)
-
(276,490)
-
(646,914)		 Balance at
31
December
2022
£
139,077
42,527
1,011,243
2,979,960
1,709,022
540,089
226,320
81,002
1,917,293
8,646,533

Page 36

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Unrestricted funds
Unrestricted funds
Restricted
Almshouse Cyclical Maintenance
Fund
Permanent endowment
Banbury Almshouse charity
Expendable endowment
Bridge Estate Fund
Lady Arran's Charity
Banbury Arts and Educational
Charity
Almshouse Extraordinary Repair
Fund
Banbury Poor Trust
Banbury Recreation Charity
Total funds		 Balance at 1
January
2021
£
57,241
37,167
871,160
2,920,416
1,490,140
551,720
210,134
81,515
1,933,440
8,152,933		 Incoming
resources
£
347,604
232
-
-
156,250
-
-
-
-
504,086		 Resources
expended
£
(323,305)
-
-
-
-
-
-
-
-
(323,305)		 Transfers
£
Other
recognised
gains/(losses)
£
(5,124)
3,854
5,124
-
-
41,400
-
223,602
-
230,444
-
15,334
-
15,121
-
10,977
-
260,343
-
801,075		 Balance at
31
December
2021
£
80,270
42,523
912,560
3,144,018
1,876,834
567,054
225,255
92,492
2,193,783
9,134,789

Page 37

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

The specific purposes for which the funds are to be applied are as follows:

The Almshouse Cyclical Maintenance Fund was established for the purpose of providing for those items of ordinary maintenance and repair of the Almshouse belonging to Banbury Almshouse Charity which recur at infrequent intervals. The fund is represented by monies deposited with the National Savings Bank and is maintained by transfers out of the income of Banbury Almshouse Charity. During the year there was a transfer from the unrestricted fund to the restricted fund to meet the ongoing maintenance needs of the Almshouses.

The schemes of the Bridge Estate Fund, Lady Arran's Charity, Banbury Arts and Educational Charity, Banbury Poor Trust and Banbury Recreation Charity require the trustees to let and otherwise manage all the assets belonging to the charities other than those required to be retained or occupied for the purposes of the charities. The objects of each of these charities are stated in the trustees' report in these accounts.

The scheme of the Banbury Almshouse Charity requires that the Almshouse belonging to the charity shall be used for the residence of its occupants. This property may not be sold by the trustees and is, therefore, permanently endowed. The objects of Banbury Almshouse Charity are stated in the trustees' report in these accounts.

The Almshouse Extraordinary Repair Fund is required, under the terms of the scheme of the Banbury Almshouse Charity, to be maintained for the purpose of providing for the extraordinary repair, improvement or building of the almshouse belonging to that charity. The fund is maintained by the investment of an annual sum out of the income of Banbury Almshouse Charity in accumulation shares of the National Association of Almshouses Common Investment Fund.

In accordance with the wishes of the donor the unspent funds donated during the year of £95,750 have been transferred to the Lady Arrans expendable endowment from the Banbury Poor Trust unrestricted funds.

Page 38

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

21 Analysis of net assets between funds

Unrestricted
funds
General
£
Tangible fixed assets
-
Fixed asset investments
28,882
Current assets/(liabilities)
49,697
Total net assets
78,579
Unrestricted
funds
General
£
Tangible fixed assets
-
Fixed asset investments
32,979
Current assets/(liabilities)
47,291
Total net assets
80,270		 Restricted
funds
£
-
-
42,527
42,527
Restricted
funds
£
-
-
42,523
42,523		 Endowment funds
Permanent
£
Expendable
£
1,000,000
-
13,545
7,553,369
-
(41,487)
1,013,545
7,511,882
Endowment funds
Permanent
£
Expendable
£
900,000
-
12,560
8,166,656
-
(67,220)
912,560
8,099,436		 Total
funds at
31
December
2022
£
1,000,000
7,595,796
50,737
8,646,533
Total
funds at
31
December
2021
£
900,000
8,212,195
22,594
9,134,789

Page 39

Banbury Charities

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

22 Related party transactions

A number of the charities' trustees have interests in organisations which have benefited from grants awarded by the charities during the year as follows:

grants awarded by the charities during the year as follows:
J T J Blinkhorn - owner of Blinkhorn Audio Visual
J P Briggs - Vice President of Banbury Cricket Club
J P Briggs - Vice President of Banbury Rugby Union FC
J A Donaldson - member of Rotary Club of Banbury
J A Donaldson - relative involved in programme - Injury
Minimization Programme (IMPS)
V J Fisher - aware of recipient (amount refunded), Dogs for Good.
M A Humphris - member of Banbury United Community FC
M A Humphris - member of Rotary Club of Banbury Cherewll
M A Humphris - Samaritans Banbury & District
N A Mepham - relative used to play and friendly with staff -
Bodicote Cricket Club		 2022
£
-
3,750
8,000
-
3,400
(9,005)
7,600
1,500
2,043
760
18,048		 2021
£
5,275
-
-
1,000
-
9,005
21,896
1,500
-
-
38,676

Page 40