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2020-12-31-accounts

Charity number: 217929

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST CONTENTS

Page
Trustees' Report
Reference and administration details of the charity, its trustees and advisors 1
Trustees report 2-3
Financial Statements
Independent Examiner's report to the Trustees 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7-8

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST ITS TRUSTEES AND ADVISORS

Name of charity

The Barton Under Needwood & Dunstall Key Trust

Registered charity number

217929

Address for correspondence

Mrs M Firth Clerk to the Trustees Three Oaks Brick Kiln Lane Barton Gate Burton on Trent Staffordshire DE13 8AP

Trustees

Mr A C Wedgwood Mr J Black Mrs J Skinner Cllr Mr J Moffat Cllr Mrs J Jones (Chairman) Dr D Okoye Mrs S Van Daesdonk Mr Foster Rogers

Accountants

ADS Accountancy Limited 7 Faraday Court First Avenue Burton upon Trent Staffordshire DE14 2WX

Independent examiner

ADS Accountancy Limited 7 Faraday Court First Avenue Burton upon Trent Staffordshire DE14 2WX

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

1

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST

TRUSTEES' REPORT

The trustees are pleased to present their report and the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the 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 102) (Effective 1 January 2015) - (Chairties SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006, in preparing the annual report and financial statements of the charity.

Aims and Purposes

The aims of the Barton under Needwood & Dunstall Key Trust ('the Trust') are to distribute the income derived from investments, including rent from land, in accordance with the Trust Deed, whilst maintaining adequate reserves in line with future planned commitments.

Objectives and Activities

The objects of the Trust are to meet the needs of the residents in the area of benefit as laid down in the Trust Deed, including:

contributing to the upkeep and maintenance of the Parish Church in Barton under Needwood,

relief of persons who are in need, hardship or distress, and

for the general benefit in such charitable ways as the trustees think fit

Achievement and Performance

With our Trustees wide ranging knowledge of our community, commercial acumen and experience of managing charitable organisations we are well placed to continue the development and successful operation of the Trust. I thank my fellow trustees and our Clerk, Miriam Firth for their support. Without their dedication and hardwork to this Trust it would not be such a successful contributor to the community and residents in Barton & Dunstall.

Finance & Investments

We remain content with the service and performance of Investec, our investment managers, but will continue reviewing their appointment to ensure that the trust is well served . Our allotments continue to be well occupied. Aggregate Industries are providing regular royalty payments into the capital of the Trust through the Community Fund Agreement and this is now providing additional income to the Trust for investment to support local beneficiaries as defined by our Trust Deed.

Total administration costs were 5.0% (2019 13.9%) of net investment income (excluding Investec management fees).

Grants

During the year grants totalling £11,279 were made to individuals and organisations with a further £26,500 pledged less £1,500 of 2019 grants that expired. Our Christmas voucher distribution cost was £3,251. These and £5,050 payable to St James’ Church represent 67.5% (2019: 49.3%) of our net investment income received during the year. It was a difficult year for so many and the level of applications to the trust was affected by the Covid pandemic and projects we had agreed to support were delayed. Again, we supported many youngsters looking to develop their personal skills and continue to encourage them to apply for our assistance but many of their projects to various parts of the world were cancelled and we hope they will be able to take advantage of the Trust next year. When we do emerge from Covid pandemic restrictions we will continue to encourage and support local organisations with their many and varied projects and look to where we can make a difference to our community

2

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST

TRUSTEES' REPORT

Marketing

The Trust is grateful to Trustee Julie Skinner for marketing support throughput the year. We are grateful to the Barton Chime for their continued support and our regular spot in the Chime, enabling us to promote our work and give examples of grants awarded.

Working alongside project groups to provide facilities for the benefit of members of our community is ongoing, and is an important aspect of widening the local knowledge of our work. Encouraging young people with extracurricular activities is a significant objective for the Trust.

Our web site, www.bartondunstallkeytrust.co.uk, is continuously updated showing details of the latest grants and news items. Potential applicants can download our Terms & Conditions and our Application Form. We continue promoting the Trust by requiring sponsored projects to promote the Trust in their literature and by plaques on buildings. Our dedicated notice board in Barton Library is also a good promotional spot. We will continue to find ways to promote our services for the benefit of our local community

As chairman I have been very lucky to benefit from the support and professionalism of our clerk, Mrs Miriam Firth. Sadly, but understandably Miriam decided to retire and we were grateful that she agreed to stay with us until a suitable replacement could be found. As Trustees we are all grateful for the hard work and dedication Miriam has shown to the Trust over many years and we all agreed that we will miss her. At the end of the year we appointed Mrs Lorraine Brant to begin work in January 2021 and we look forward to giving Lorraine a warm welcome. St James Church have appointed a new vicar, Rev. Andy Simpson and we look forward to welcoming Andy as a Trustee in 2021

I would like to take this opportunity to thank my fellow Trustees for their support over the last year. None of us have really enjoyed the necessary Zoom meetings but it has enabled us to continue our work. I look forward to us all getting together in person sometime during 2021 and look forward to a safe and healthy future where we can expand our work in the Barton and Dunstall community.

Public Benefit Requirement

The Trustees feel that the performance in the year demonstrates that the Trust continues to meet the Public Benefit criteria whilst complying with the Trust Deed.

Approved by the Trustees on and signed on their behalf by Mrs J Jones, Chairman.

Mrs J Jones Chairman

3

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST

Independent Examiner's report to the Trustees of the Barton under Needwood and Dunstall Key Trust

I report on the accounts of Barton under Needwood and Dunstall Key Trust for the year ended 31 December 2020 which are set out on pages 5 to 8.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act") and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. Which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Steve Sharp FCCA for and on behalf of ADS Accountancy Limited Accountants and Statutory Auditors

7 Faraday Court First Avenue Burton upon Trent Staffordshire DE14 2WX

4

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST

STATEMENT OF FINANCIAL ACTIVITIES (including receipts and payments account) for the year ended 31 December 2020

Notes
RECEIPTS
1
Voluntary income
Donations and legacies
Investment income
Dividends (gross)
Rent
Royalties
Interest
TOTAL RECEIPTS
Vouchers
Grants
Grants expired
St James
Payments for expenses
Clerk's fees
Printing, postage and stationery
Meeting costs
Accountancy fees
Legal and professional fees
Professional and Investment Management Fees
Marketing and advertising
Sundries
TOTAL PAYMENTS
PAYMENTS FOR ASSETS AND INVESTMENTS
Payment into investment
Investment fees paid from investment funds
(Increase)/decrease in debtor balances
Increase/(decrease) in creditor balances
Net increase in cash for the year
Cash balances brought forward
CASH BALANCES CARRIED FORWARD		 Total
funds
2020
£
1,000
48,110
1,682
31,156
40
81,988
81,988
3,251
37,779
(1,500)
5,050
1,435
250
45
420
643
15,948
270
256
63,847
(8,013)
15,948
727
11,118
37,921
38,379
76,300		 Total
funds
2019
£
1,000
76,830
1,640
31,540
63
111,073
111,073
3,481
48,849
(13,500)
8,068
1,846
58
60
420
8,854
16,011
1,270
590
76,007
(30,520)
16,011
(1,781)
1,919
4,684
33,695
38,379

5

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST

STATEMENT OF ASSETS AND LIABILITIES

as at 31 December 2020

Notes
FIXED ASSETS
Tangible assets
3
Investments
4
CURRENT ASSETS
Debtors
Cash at bank and in hand
CREDITORS: amounts falling
due within one year
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Unrestricted funds
TOTAL FUNDS
5		 2020
2019
£
£
80,000
80,000
2,050,888
2,032,929
20,142
20,869
76,300
38,379
96,442
59,248
(61,970)
(50,852)
34,472
8,396
2,165,360
2,121,325
2,165,360
2,121,325
2,165,360
2,121,325		 2020
2019
£
£
80,000
80,000
2,050,888
2,032,929
20,142
20,869
76,300
38,379
96,442
59,248
(61,970)
(50,852)
34,472
8,396
2,165,360
2,121,325
2,165,360
2,121,325
2,165,360
2,121,325
2,121,325
2,121,325
2,121,325

The financial statements were approved by Trustees on and signed on their behalf, by:

.......................................................... Mrs J Jones Chairman

6

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2020

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Barton Under Needwood & Dunstall Key Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historial cost or transactions value unless otherwise stated in the relevent accounting policy.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the committee in furtherance of the general objectives of the company and which have not been designated for other purposes.

There are no restricted funds in the year.

Incoming resources

All incoming resources are included in the statement of financial activities in the period to which they relate.

Resources expended

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs .

Going concern

The Trustees have considered the requirements of the company for a period of 12 months from the date of the approval of these financial statements.

2 TRUSTEES' REMUNERATION & EXPENSES

No remuneration was paid or is payable for the year out of the funds of the Centre, either directly or indirectly, to any trustee or to any person known to be connected to any trustee in respect of the year ended 31 December 2020 (2019: nil)

No reimbursement of expenses has been paid or is due to be paid to any of the trustees in respect of the year ended 31 December 2020 (2019: nil)

3 TANGIBLE FIXED ASSETS

Cost
At 1 January 2020
At 31 December 2020
Depreciation
At 1 January 2020
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Land
£
80,000
80,000
-
-
80,000
80,000		 Total
£
80,000
80,000
-
-
80,000
80,000

7

THE BARTON UNDER NEEDWOOD & DUNSTALL KEY TRUST

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2020

4 INVESTMENTS

Cost
At 1 January 2020
Additions
Fees deducted
Market value increase/(decrease)
At 31 December 2020
Other investments
Listed investments
Listed investments at market value		 Other
investments
£
2,032,929
8,013
(15,948)
25,894
2,050,888
2020
£
2,050,888
2,050,888		 Total
£
2,032,929
8,013
(15,948)
25,894
2,050,888
2019
£
2,032,929
2,032,929

5 FUNDS

Unrestricted funds
At 1 January 2020
Receipts
Payments
Increase/(decrease) in investment value
At 31 December 2020		 81,988
(63,847)		 General funds
£
2,121,325
18,141
25,894
2,165,360

8