## **Trustees’ Annual Report for the period**
**From January 2020 Period start date To end December 2020 Period end date**
**Charity name:Babington’s Charity**
## **Charity registration number:220069**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**To manage our property assets and apply**
**the income to residents of the parish of**
**Cossington, Leicestershire in financial**
**hardship, aged under 25 and undertaking**
**apprenticeships or further education, to**
**assist the village school and to offer**
**general or individual benefit to the**
**inhabitants of said parish.**|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.|Para 1.17 and
1.19|**Grants made to individuals requiring**
**financial support to help with living**
**expenses.**
**To offer grants to students and**
**apprentices.**
**To financially support Cossington C of E**
**school to operate in a way that benefits**
**all pupils.**
**To financially support the Church and**
**Village centre development project. **|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**All decisions are made with due regard to**
**Charity Commission guidelines and in**
**accordance with our scheme.**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
||SORP reference||
|---|---|---|
|Policy on grant making|Para 1.38|**Hardship grants and student and**
**apprentice support are not means tested**
**although local knowledge is used to aid**
**decision making.**|
|Policy on social investment
including program related
investment|Para 1.38|**N/A**|
||||
|Contribution made by
volunteers|Para 1.38|**The Charity consists of 6 trustees who**
**meet regularly.**
**No other volunteers are involved.**|
|---|---|---|
|Other|||
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|**We offered a substantial grant to the**
**Cossington C of E school. We did not**
**attach caveats as we believe the**
**education professionals know best how**
**to spend the money although we do ask**
**that a sum of money is always available**
**to ensure that all pupils are able to attend**
**school trips and residential stays if**
**families cannot afford the cost.**
**We supported two elderly people who live**
**on their own with grants towards living**
**expenses.**
**We supported a variety of students under**
**the age of 25 with grants to assist with**
**travel/ books /living costs.**|
|**Additional information (optional)**
You may choose to include further statements|**Additional information (optional)**
You may choose to include further statements|where relevant about:|
|---|---|---|
|Achievements against
objectives set|Para 1.41|**All achievements have been in line with**
**the Scheme registered with the Charity**
**Commission.**|
|Performance of fundraising
activities against objectives
set|Para 1.41|**We do not fund-raise but rely on income**
**from rental of our properties / pub car**
**park and allotments to enable us to meet**
**our charitable objectives.**|
|Investment performance
against objectives|Para 1.41|**Our only investment is with COIF as we**
**believe this to be a very safe investment**
**fund.**|
|Other|||
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|**The charity ends the years in a strong**
**financial position. Whilst income and**
**expenditure have remained fairly close**
**(circa £45k income, circa £40k**
**expenditure) we also continue to hold a**
**balance of monies paid to us last year by**
**the Bull Piece Charity which we propose**
**to use towards the Village Centre as and**
**when the building workcommences,. **|
|Statement explaining the
policy for holding reserves
statingwhytheyare held|Para 1.22|**We always aim to hold a substantial**
**reserve of £20-£30k should large scale**
**property repairs be required.**|
|Amount of reservesheld|Para 1.22|**End 2020 £73,693**|
|Reasons for holding zero
reserves|Para 1.22|**N/A**|
|Details of fund materially in
deficit|Para 1.24|**None**|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**None**|
|**Additional information (optional)**
You may choose to include further statements|**Additional information (optional)**
You may choose to include further statements|where relevant about:|
|---|---|---|
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|**Income from the rental of 7 domestic**
**properties, one car park leased to the**
**local pub and village allotments.**|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|**No social investment policy.**
**Any reserves held in COIF.**|
|A description of the principal
risks facing the charity|Para 1.46|**Lack of maintenance of property thus**
**allowing assets to fall into disrepair.**
**Non payment of rents by tenants.**
**We mitigate these risks by engaging**
**professional property agents (Leaders of**
**Loughborough) who ensure our**
**properties are regularly inspected and**
**that tenants undergo a strict vetting**
**process.**|
|Other|||
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**Charity Commission Scheme sealed 7th**
**December 1993 although Trust ahs been**
**in existence since 15.7.1884**|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Unincorporated**|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**One Trustee to be nominated by**
**Cossington parish Council**
**Five trustees to be co-opted who have,**
**through residence or occupation or**
**employment, or otherwise, have special**
**knowledge of the Parish of Cossington.**|
|**Additional information (optional)**
You may choose to include further statements|**Additional information (optional)**
You may choose to include further statements|where relevant about:|
|---|---|---|
|Policies and procedures
adopted for the induction and
training of trustees|Para 1.51|**New Trustees are given an overview of**
**the Charity by the Chairman and a copy**
**of the scheme by which we abide.**|
|The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|**Chair**
**Treasurer**
**Secretary**
**Parish Council representative.**|
|Relationship with any related
parties|Para 1.51|**None**|
|Other|||
## **Reference and Administrative details**
|Charity name|Babington’s Charity|
|---|---|
|Other name the charity uses||
|Registered charitynumber|220069|
|Charity’s principal address|14 Main Street
Cossington
Leicester
LE7 4UU|
|||
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||Helen McCague|Chair|||
||Dean Hopkinson|Treasurer|Resigned 16.3.2020||
||Rich Heathcote|Treasurer|||
||GarryDrew|||Cossington Parish Council|
||Rachel Cutts|Secretary|Resigned 16.7.2020||
||Louise Breward||Resigned 25.8.2020||
||David Mumford||Appointed 6.10.2020||
||Clare Pearson||Appointed 6.10.2020||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
– Corporate trustees names of the directors at the date the report was approved
**Director name N/A**
Name of trustees holding title to property belonging to the charity
|**Trustee name**|**Dates acted if not for whole year**||
|---|---|---|
|**N/A**|||
||||
||||
||||
||||
||||
## **Funds held as custodian trustees on behalf of others**
Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
**Type of Name Address adviser N/A**
## **Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
**N/A**
## **Other optional information**
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s) Full name(s)** Helen Elizabeth McCague **Position (eg Secretary,** Chair **Chair, etc) Date** 26.10.2021
**REGISTERED CHARITY NUMBER: 220069**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2019 for Babington's Charity**
Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
**Babington's Charity**
## **Contents of the Financial Statements for the Year Ended 31 December 2019**
||Page|
|---|---|
|Report of the Trustees|1|
|Independent Examiner's Report|2|
|Statement of Financial Activities|3|
|Balance Sheet|4|
|Notes to the Financial Statements|5 to 8|
|Detailed Statement of Financial Activities|9|
**Babington's Charity**
## **Report of the Trustees for the Year Ended 31 December 2019**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2019. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
220069
## **Principal address**
14 Main Street Cossington Leicester Leicestershire LE7 4UU
## **Trustees**
Mrs H McCague Co-opted trustee - Chair D Hopkinson Co-opted trustee Mrs R Cutts Co-opted trustee G Drew Appointed trustee Mrs L Turnball Co-opted trustee R Heathcote Appointed trustee
## **Independent examiner**
Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 6 October 2020 and signed on its behalf by:
Mrs H McCague - Trustee
Page 1
**Independent Examiner's Report to the Trustees of Babington's Charity**
I report on the accounts for the year ended 31 December 2019, which are set out on pages three to eight.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. that there is further information needed for a proper understanding of the accounts.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
David Preston FCCA ACCA Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
6 October 2020
Page 2
## **Babington's Charity**
## **Statement of Financial Activities for the Year Ended 31 December 2019**
|**Unrestricted**
**Endowment**
**fund**
**fund**
Notes
**£**
**£**
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Investment income
2
**36,300**
**-**
**RESOURCES EXPENDED**
**Costs of generating funds**
Costs of generating voluntary income
**4,680**
**-**
**Charitable activities**
Students & individuals
**11,275**
**-**
Organisations
**-**
**-**
**Governance costs**
**480**
**-**
**Total resources expended**
**16,435**
**-**
**NET INCOMING RESOURCES**
**19,865**
**-**
**Other recognised gains/losses**
Gains/losses on investment assets
**13,215**
**-**
**Net movement in funds**
**33,080**
**-**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**519,325**
**-**
**TOTAL FUNDS CARRIED FORWARD**
**552,405**
**-**|**31.12.19**
**Total**
**funds**
**£**
**36,300**
**4,680**
**11,275**
**-**
**480**
**16,435**
**19,865**
**13,215**
**33,080**
**519,325**
**552,405**|31.12.18|
|---|---|---|
|||Total
funds|
|||£|
||||
||||
|||47,812|
||||
||||
||||
|||26,490|
||||
|||6,925|
|||12,000|
|||480|
||||
||||
|||45,895|
||||
||||
||||
|||1,917|
||||
||||
|||44,951|
||||
||||
|||46,868|
||||
||||
||||
|||475,166|
||||
||||
||||
|||522,034|
||||
||||
The notes form part of these financial statements
Page 3
## **Babington's Charity**
## **Balance Sheet At 31 December 2019**
|**Unrestricted**
**Endowment**
**fund**
**fund**
Notes
**£**
**£**
**FIXED ASSETS**
Tangible assets
4
**440,627**
**-**
Investments
5
**69,263**
**-**
**509,890**
**-**
**CURRENT ASSETS**
Debtors
6
**355**
**-**
Cash at bank
**42,641**
**-**
**42,996**
**-**
**CREDITORS**
Amounts falling due within one year
7
**(481)**
**-**
**NET CURRENT ASSETS**
**42,515**
**-**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**552,405**
**-**
**NET ASSETS**
**552,405**
**-**
**FUNDS**
8
Unrestricted funds
**TOTAL FUNDS**|**31.12.19**
**Total**
**funds**
**£**
**440,627**
**69,263**
**509,890**
**355**
**42,641**
**42,996**
**(481)**
**42,515**
**552,405**
**552,405**
**552,405**
**552,405**|31.12.18
Total
funds
£
440,627
58,757
499,384
355
22,775
23,130
(480)
22,650
522,034
522,034
522,034
522,034|
|---|---|---|
The financial statements were approved by the Board of Trustees on 6 October 2020 and were signed on its behalf by:
Mrs H McCague -Trustee
The notes form part of these financial statements
Page 4
**Babington's Charity**
## **Notes to the Financial Statements for the Year Ended 31 December 2019**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
||**31.12.19**|31.12.18|
|---|---|---|
||**£**|£|
|Rents received|**34,221**|46,115|
|Dividends|**2,079**|1,697|
||**36,300**|47,812|
||||
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2019 nor for the year ended 31 December 2018 .
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2019 nor for the year ended 31 December 2018 .
Page 5
**Babington's Charity**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2019**
|**4.**|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|---|
|||||**Freehold**|
|||||**property**|
|||||**£**|
||**COST**||||
||At 1 January 2019 and 31 December 2019|||**440,627**|
||**NET BOOK VALUE**||||
||At 31 December 2019|||**440,627**|
||At 31 December 2018|||440,627|
|**5.**|**FIXED ASSET INVESTMENTS**||||
|||||**Listed**|
|||||**investments**|
|||||**£**|
||**MARKET VALUE**||||
||At 1 January 2019|||**58,757**|
||Revaluations|||**10,506**|
||At 31 December 2019|||**69,263**|
||**NET BOOK VALUE**||||
||At 31 December 2019|||**69,263**|
||At 31 December 2018|||58,757|
||There were no investment assets outside the UK.||||
|**6.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|||**31.12.19**||31.12.18|
|||**£**||£|
||Other debtors||**355**|355|
||||||
|**7.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|||**31.12.19**||31.12.18|
|||**£**||£|
||Trade creditors||**1**|-|
||Other creditors||**480**|480|
||||**481**|480|
||||||
Page 6
## **Babington's Charity**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2019**
## **8. MOVEMENT IN FUNDS**
||||**Net movement**||
|---|---|---|---|---|
|||**At 1.1.19**|**in funds**|**At 31.12.19**|
|||**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund||**519,325**|**33,080**|**552,405**|
|**TOTAL FUNDS**||**519,325**|**33,080**|**552,405**|
|Net movement in funds, included in the above are as follows:|||||
||**Incoming**|**Resources**|**Gains and**|**Movement in**|
||**resources**|**expended**|**losses**|**funds**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund|**36,300**|**(16,435)**|**13,215**|**33,080**|
|**TOTAL FUNDS**|**36,300**|**(16,435)**|**13,215**|**33,080**|
## **Comparatives for movement in funds**
|**Comparatives for movement in funds**|||||
|---|---|---|---|---|
||||**Net movement**||
|||**At 1.1.18**|**in funds**|**At 31.12.18**|
|||**£**|**£**|**£**|
|**Unrestricted Funds**|||||
|General fund||**475,166**|**46,868**|**522,034**|
|**TOTAL FUNDS**||**475,166**|**46,868**|**522,034**|
|Comparative net movement in funds, included in the above are as||follows:|||
||**Incoming**|**Resources**|**Gains and**|Movement in|
||**resources**|**expended**|**losses**|funds|
||**£**|**£**|**£**|£|
|**Unrestricted funds**|||||
|General fund|**47,812**|**(45,895)**|**44,951**|**46,868**|
|**TOTAL FUNDS**|**47,812**|**(45,895)**|**44,951**|**46,868**|
Page 7
**Babington's Charity**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2019**
## **8. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Net movement**
**At 1.1.18**
**in funds**
**At**
**£**
**£**
**Unrestricted funds**
General fund
**475,166**
**79,948**
**TOTAL FUNDS**
**475,166**
**79,948**|**31.12.19**
**£**
**555,114**|
|---|---|
||**555,114**|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||**Incoming**|**Resources**|**Gains and**|**Movement in**|
|---|---|---|---|---|
||**resources**|**expended**|**losses**|**funds**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund|**84,112**|**(62,330)**|**58,166**|**79,948**|
|**TOTAL FUNDS**|**84,112**|**(62,330)**|**58,166**|**79,948**|
Page 8
## **Babington's Charity**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2019**
||**31.12.19**|31.12.18|
|---|---|---|
||**£**|£|
|**INCOMING RESOURCES**|||
|**Investment income**|||
|Rents received|**34,221**|46,115|
|Dividends|**2,079**|1,697|
||**36,300**|47,812|
|**Total incoming resources**|**36,300**|47,812|
|**RESOURCES EXPENDED**|||
|**Costs of generating voluntary income**|||
|Insurance|**1,210**|1,139|
|Repairs|**2,311**|20,195|
|Agents fees & expenses|**1,159**|5,156|
||**4,680**|26,490|
|**Charitable activities**|||
|Students & individuals|**5,275**|6,925|
|Cossington School|**3,000**|6,000|
|Cossington Church|**3,000**|6,000|
||**11,275**|18,925|
|**Governance costs**|||
|Accountancy|**480**|480|
|**Total resources expended**|**16,435**|45,895|
|**Net income**|**19,865**|1,917|
||||
This page does not form part of the statutory financial statements
Page 9
**REGISTERED CHARITY NUMBER: 220069**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2019 for Babington's Charity**
Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
**Babington's Charity**
## **Contents of the Financial Statements for the Year Ended 31 December 2019**
||Page|
|---|---|
|Report of the Trustees|1|
|Independent Examiner's Report|2|
|Statement of Financial Activities|3|
|Balance Sheet|4|
|Notes to the Financial Statements|5 to 8|
|Detailed Statement of Financial Activities|9|
**Babington's Charity**
## **Report of the Trustees for the Year Ended 31 December 2019**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2019. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
220069
## **Principal address**
14 Main Street Cossington Leicester Leicestershire LE7 4UU
## **Trustees**
Mrs H McCague Co-opted trustee - Chair D Hopkinson Co-opted trustee Mrs R Cutts Co-opted trustee G Drew Appointed trustee Mrs L Turnball Co-opted trustee R Heathcote Appointed trustee
## **Independent examiner**
Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 6 October 2020 and signed on its behalf by:
Mrs H McCague - Trustee
Page 1
**Independent Examiner's Report to the Trustees of Babington's Charity**
I report on the accounts for the year ended 31 December 2019, which are set out on pages three to eight.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. that there is further information needed for a proper understanding of the accounts.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
David Preston FCCA ACCA Vaughan Davies & Co (Accountants) Ltd Unit 1-3, Willow Park Upton Lane Stoke Golding Nuneaton Warwickshire CV13 6EU
6 October 2020
Page 2
## **Babington's Charity**
## **Statement of Financial Activities for the Year Ended 31 December 2019**
|**Unrestricted**
**Endowment**
**fund**
**fund**
Notes
**£**
**£**
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Investment income
2
**36,300**
**-**
**RESOURCES EXPENDED**
**Costs of generating funds**
Costs of generating voluntary income
**4,680**
**-**
**Charitable activities**
Students & individuals
**11,275**
**-**
Organisations
**-**
**-**
**Governance costs**
**480**
**-**
**Total resources expended**
**16,435**
**-**
**NET INCOMING RESOURCES**
**19,865**
**-**
**Other recognised gains/losses**
Gains/losses on investment assets
**13,215**
**-**
**Net movement in funds**
**33,080**
**-**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**519,325**
**-**
**TOTAL FUNDS CARRIED FORWARD**
**552,405**
**-**|**31.12.19**
**Total**
**funds**
**£**
**36,300**
**4,680**
**11,275**
**-**
**480**
**16,435**
**19,865**
**13,215**
**33,080**
**519,325**
**552,405**|31.12.18|
|---|---|---|
|||Total
funds|
|||£|
||||
||||
|||47,812|
||||
||||
||||
|||26,490|
||||
|||6,925|
|||12,000|
|||480|
||||
||||
|||45,895|
||||
||||
||||
|||1,917|
||||
||||
|||44,951|
||||
||||
|||46,868|
||||
||||
||||
|||475,166|
||||
||||
||||
|||522,034|
||||
||||
The notes form part of these financial statements
Page 3
## **Babington's Charity**
## **Balance Sheet At 31 December 2019**
|**Unrestricted**
**Endowment**
**fund**
**fund**
Notes
**£**
**£**
**FIXED ASSETS**
Tangible assets
4
**440,627**
**-**
Investments
5
**69,263**
**-**
**509,890**
**-**
**CURRENT ASSETS**
Debtors
6
**355**
**-**
Cash at bank
**42,641**
**-**
**42,996**
**-**
**CREDITORS**
Amounts falling due within one year
7
**(481)**
**-**
**NET CURRENT ASSETS**
**42,515**
**-**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**552,405**
**-**
**NET ASSETS**
**552,405**
**-**
**FUNDS**
8
Unrestricted funds
**TOTAL FUNDS**|**31.12.19**
**Total**
**funds**
**£**
**440,627**
**69,263**
**509,890**
**355**
**42,641**
**42,996**
**(481)**
**42,515**
**552,405**
**552,405**
**552,405**
**552,405**|31.12.18
Total
funds
£
440,627
58,757
499,384
355
22,775
23,130
(480)
22,650
522,034
522,034
522,034
522,034|
|---|---|---|
The financial statements were approved by the Board of Trustees on 6 October 2020 and were signed on its behalf by:
Mrs H McCague -Trustee
The notes form part of these financial statements
Page 4
**Babington's Charity**
## **Notes to the Financial Statements for the Year Ended 31 December 2019**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
||**31.12.19**|31.12.18|
|---|---|---|
||**£**|£|
|Rents received|**34,221**|46,115|
|Dividends|**2,079**|1,697|
||**36,300**|47,812|
||||
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2019 nor for the year ended 31 December 2018 .
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2019 nor for the year ended 31 December 2018 .
Page 5
**Babington's Charity**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2019**
|**4.**|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|---|
|||||**Freehold**|
|||||**property**|
|||||**£**|
||**COST**||||
||At 1 January 2019 and 31 December 2019|||**440,627**|
||**NET BOOK VALUE**||||
||At 31 December 2019|||**440,627**|
||At 31 December 2018|||440,627|
|**5.**|**FIXED ASSET INVESTMENTS**||||
|||||**Listed**|
|||||**investments**|
|||||**£**|
||**MARKET VALUE**||||
||At 1 January 2019|||**58,757**|
||Revaluations|||**10,506**|
||At 31 December 2019|||**69,263**|
||**NET BOOK VALUE**||||
||At 31 December 2019|||**69,263**|
||At 31 December 2018|||58,757|
||There were no investment assets outside the UK.||||
|**6.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|||**31.12.19**||31.12.18|
|||**£**||£|
||Other debtors||**355**|355|
||||||
|**7.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|||**31.12.19**||31.12.18|
|||**£**||£|
||Trade creditors||**1**|-|
||Other creditors||**480**|480|
||||**481**|480|
||||||
Page 6
## **Babington's Charity**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2019**
## **8. MOVEMENT IN FUNDS**
||||**Net movement**||
|---|---|---|---|---|
|||**At 1.1.19**|**in funds**|**At 31.12.19**|
|||**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund||**519,325**|**33,080**|**552,405**|
|**TOTAL FUNDS**||**519,325**|**33,080**|**552,405**|
|Net movement in funds, included in the above are as follows:|||||
||**Incoming**|**Resources**|**Gains and**|**Movement in**|
||**resources**|**expended**|**losses**|**funds**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund|**36,300**|**(16,435)**|**13,215**|**33,080**|
|**TOTAL FUNDS**|**36,300**|**(16,435)**|**13,215**|**33,080**|
## **Comparatives for movement in funds**
|**Comparatives for movement in funds**|||||
|---|---|---|---|---|
||||**Net movement**||
|||**At 1.1.18**|**in funds**|**At 31.12.18**|
|||**£**|**£**|**£**|
|**Unrestricted Funds**|||||
|General fund||**475,166**|**46,868**|**522,034**|
|**TOTAL FUNDS**||**475,166**|**46,868**|**522,034**|
|Comparative net movement in funds, included in the above are as||follows:|||
||**Incoming**|**Resources**|**Gains and**|Movement in|
||**resources**|**expended**|**losses**|funds|
||**£**|**£**|**£**|£|
|**Unrestricted funds**|||||
|General fund|**47,812**|**(45,895)**|**44,951**|**46,868**|
|**TOTAL FUNDS**|**47,812**|**(45,895)**|**44,951**|**46,868**|
Page 7
**Babington's Charity**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2019**
## **8. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Net movement**
**At 1.1.18**
**in funds**
**At**
**£**
**£**
**Unrestricted funds**
General fund
**475,166**
**79,948**
**TOTAL FUNDS**
**475,166**
**79,948**|**31.12.19**
**£**
**555,114**|
|---|---|
||**555,114**|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||**Incoming**|**Resources**|**Gains and**|**Movement in**|
|---|---|---|---|---|
||**resources**|**expended**|**losses**|**funds**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund|**84,112**|**(62,330)**|**58,166**|**79,948**|
|**TOTAL FUNDS**|**84,112**|**(62,330)**|**58,166**|**79,948**|
Page 8
## **Babington's Charity**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2019**
||**31.12.19**|31.12.18|
|---|---|---|
||**£**|£|
|**INCOMING RESOURCES**|||
|**Investment income**|||
|Rents received|**34,221**|46,115|
|Dividends|**2,079**|1,697|
||**36,300**|47,812|
|**Total incoming resources**|**36,300**|47,812|
|**RESOURCES EXPENDED**|||
|**Costs of generating voluntary income**|||
|Insurance|**1,210**|1,139|
|Repairs|**2,311**|20,195|
|Agents fees & expenses|**1,159**|5,156|
||**4,680**|26,490|
|**Charitable activities**|||
|Students & individuals|**5,275**|6,925|
|Cossington School|**3,000**|6,000|
|Cossington Church|**3,000**|6,000|
||**11,275**|18,925|
|**Governance costs**|||
|Accountancy|**480**|480|
|**Total resources expended**|**16,435**|45,895|
|**Net income**|**19,865**|1,917|
||||
This page does not form part of the statutory financial statements
Page 9