The Noel Buxton Trust Registered Charity No. 220881
Report and Accounts For the year ended 31 December 2020
THE NOEL BUXTON TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
Reference and administrative details
Settlor: Noel Edward Buxton, subsequently Lord Noel-Buxton
Name of the Charity:
The Noel Buxton Trust
The principal governing document is a Settlement dated 28 June 1919. The Trust is a private charitable trust controlled by its Trustees.
Charity Registration No: 220881 Trustees: Emma Compton-Burnett (Chair) Tahera Aanchawan Katie Aston, OBE James Buckley (appointed 11 May 2021) Katie Buxton Simon Buxton Sir Brendan Gormley, KCMG John Littlewood (resigned 5 May 2020) Jo Tunnard (Vice-chair)
Principal Office Address:
Principal Office Address: P O Box 520 Fleet GU51 9GX www.noelbuxtontrust.org.uk Manager: Anne Murray Applegate, Crondall Road Crookham Village Hampshire GU51 5SS Independent Examiner: Gilroy and Brookes Accountants Limited Suite 15, The Enterprise Centre Coxbridge Business Park Farnham GU10 5EH Bankers : CAF Bank Limited Kings Hill West Malling Kent ME19 4TA Investment Managers : M&G Charities PO Box 9038 Chelmsford CM99 2X
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THE NOEL BUXTON TRUST TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Investment powers : Under the 1919 Settlement Trustees have broad discretion over the classes of investments that may be held.
Objects of the Charity:
The promotion of the welfare of the community.
The Trustees’ concerns were with development in Africa; with the welfare of families affected by domestic abuse and with the welfare of prisoners and their families in Britain.
The Trustees present their annual report and financial statements of the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2016 and Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP FRS 102) applicable to charities preparing accounts for the accounting period beginning on or after 01 January 2019.
Objectives and activities for the public benefit
The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Trust’s aims and objectives, in planning future activities, and setting the grant making policy for the year.
The Objects of the Trust reflect the Founder’s world-wide view of human welfare. They require the Trustees to promote the welfare of communities both by direct means and by supporting social reform. The Trustees seek to enact these broad objectives though grant-making. In 2020 the Trust furthered its charitable purposes for the public benefit by making grants supporting voluntary organisations working in three areas, where the Trust has many years of experience:
-
Sustainable livelihood projects in Africa, such as small business support and training, and microfinance in both urban and rural, regions. Trustees also welcome appeals that support and protect street children.
-
Work with families affected by domestic abuse in Britain. Trustees fund projects that work with survivors or perpetrators of domestic abuse.
-
Work by organisations that help to improve the lives of prisoners and former offenders in Britain. Trustees fund projects that offer practical help to rehabilitate offenders and help them to prepare for life after release.
Public benefit statement
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity’s activities.
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THE NOEL BUXTON TRUST TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Principal funding sources
The principal funding source of the Charity is dividend income from the investment portfolio.
Grant making policies
Grants are awarded after submission of an eligible application by the applicant to the Trustees. The Trustees review the application to judge if the grant falls within the charity’s objectives and whether the application meets its requirements in terms of the benefits it gives. Each application is discussed, reviewed and decided upon by the Trustees. All decisions are reported at their regular meetings.
Structure, governance and management
The Noel Buxton Trust was established by Trust Deed in 1919, and it is registered as a charity (Charity Number 220881). The Trust was managed by a Board of Trustees who are chosen for their relevant knowledge and experience and from those who share the ethos of the Trust. This year, the Trustees bade farewell to John Littlewood, who resigned from the Board having served for 20 years. John’s expertise in advising on the investment portfolio has been a great asset to the Noel Buxton Trust. The Board began the recruitment process to appoint a new Trustee who will take on John’s role.
The Board met four times in 2020 via the internet. In addition to our regular meetings in May and October, the Board met in April and June to discuss our response to the Covid-19 crisis. The Board also discussed and approved all matters of governance, including investment decisions and grant-making policy. Grant decisions were formally approved at the meetings. The Board delegates daily running of the Trust’s business to an experienced manager, who reports directly to the Chairman. Trustees receive no benefits, although the Trust will cover reasonable travel expenses.
The Trust continued its membership of the Association of Charitable Foundations and took advantage of ACF’s meetings and publications, which help to inform Trustees about good practice in grant-making.
Achievements and performance, including our response to Covid-19
The Trustees have decided that, with the modest budget at their disposal, they must direct their grants in an effective manner. Trustees, therefore, set out guidelines to help potential applicants understand the kinds of applications that are likely to be funded, and those that cannot be considered. Trustees publish guidelines and exclusions for each of the three areas of work, on the Trust’s website.
Under our guidelines, Trustees considered 49 appropriate new appeals and made 10 new grants. In addition, Trustees renewed grants to 20 existing beneficiaries, making, in total, 30 grants totalling £89,920.
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THE NOEL BUXTON TRUST TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
In 2020, the Covid-19 crisis affected our beneficiaries in the UK and Africa. Trustees temporarily set aside the normal grants scheme for new applicants and focused attention on our existing beneficiaries. Between April and July we contacted these beneficiaries to offer support for pressing needs related to the Covid-19 crisis. We received requests from 17 organisations and made grants to all of them, totalling £37,200.
In addition, our Trustee, Katie Aston, worked with two penal organisations to allocate £20,000 to support BAME communities.
This year, Trustees spent £147,100 (2019: £119,800) supporting work that had direct public benefit in the form of grants. A full list of grants is given in pages 14-17.
Trustees intend to learn from the experience of making grants, and actively encourage beneficiary organisations to report on their work.
Financial review
The Trust’s work is entirely dependent on the income derived from its investments. The sharp fall in the global markets in the early stages of the pandemic adversely affected our investments. However, having looked at our cash balances at CAF Bank and Shawbrook, Trustees took the view that our reserves should enable us to continue making grants during a challenging year for our beneficiaries. Trustees agreed that cash at Shawbrook Bank should be drawn out to provide emergency funding at this critical time. They agreed an emergency budget allowing us to spend more on grants than we would have expected in normal times.
Investment performance
The Trust remained invested in M&G Charifund, Charibond and M&G Corporate Bond. In this difficult year, income from the investments was £105,805 (2019: £128,589). All three investments, the equity fund, Charifund, and both fixed interest holdings, Charibond and the Corporate Bond, generated less income than in the previous year. The total value under investment at year end was £2,434,552 (2019: £2,812,881).
Reserves policy
The Trustees have agreed to keep at least six-month’s running costs (approximately £60,000) in cash, at CAF Bank, as a reserve. This money ensures that the Trust can provide continuity of grant-making even if the investment income falters.
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THE NOEL BUXTON TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Income Investment income 3 Interest from CAF Bank and Shawbrook Bank Total income Expenditure Expenditure on raising funds Expenditure on charitable activities Grant-making 4 Donation Total expenditure Net income / (expenditure) before gains and losses on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
2020 2019 Unrestricted Unrestricted 105,805 128,589 858 799 |
|---|---|
| 106,663 129,388 |
|
| 157,450 131,264 1,000 50.00 |
|
| 158,450 131,314 |
|
| (51,787) (1,926) (378,329) 343,187 |
|
| (430,116) 341,261 |
|
| 3,003,840 2,662,579 |
|
| 2,573,724 3,003,840 |
Continuing Operations
None of the Trust’s activities was acquired or discontinued during the above two financial years.
Total recognised Gains and Losses
The Trust has no recognised gains or losses other than the above movement in funds for the above two financial years.
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| Note 2A20 | 2019 | |||
|---|---|---|---|---|
| UnrestrietedUnrestricted | ||||
| Fkedassets | ||||
| Investmentt | 2,434,552 | 2,812,881 | ||
| ,*talfixedassets | 2,434,552 | 2,812,881 | ||
| Currentassets | ||||
| Cash athandand | inbank | 139,172 | 190.959 | |
| Total currentassets | 2,573,724 | 3.003.840 | ||
| Liabilities | ||||
| Creditorsfalling | duewithinoneyear | |||
| Netcurrentassets | 2,513,724 | 3.003.840 | ||
| Tlrefundafthecltarity Unrestricted fund |
2,,573,7213.003.844 | |||
| Total charitv fund | 2,573,,7243.043.844 |
THE NOEL BUXTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. Accounting Policies
(a) Basis of preparation and assessment of going concern
The accounts (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 for Smaller Entities published on 16/07/14, the Financial Reporting Standard for Smaller Entities (FRSSE), and the Charities Act 2011 and applicable regulations. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
(b) Funds structure
The Charity’s assets are unrestricted. The Trustees have wide powers of investment and are able to spend both capital and income in pursuance of the objects of the Trust.
(c) Income recognition
All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated to the applicable expenditure headings in the statement of financial activities. For more information on this allocation refer to note (f) below.
Grants payable are charged in the year when the offer is made. Grants offered subject to conditions that are not met at year end are noted as a commitment, but not accrued as expenditure.
(e) Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
(f) Allocation of support and governance costs
Support costs have been differentiated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs relating to trustee Board and sub Committee meetings. The allocation of support and governance costs is analysed in notes 6 and 7.
(h) Charitable activities
The expenditure on charitable activities includes grants made, governance costs and support costs. A full list of grants made in 2020 is given at the end of these notes.
(i) Fixed asset investments
Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
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THE NOEL BUXTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
(j) Realised gains and losses
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
2. Related party transactions and Trustees’ expenses and remuneration
The Trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind (2019: £nil). Expenses paid to the Trustees in the year totalled zero (2019: £159.85). There were no related party transactions.
3. Investment income
| 2020 | 2019 | |||
|---|---|---|---|---|
| £ | £ | |||
| Dividend income | ||||
| M&G Charifund | 90,163 | 112,314 | ||
| M&G Charibond | 7,725 | 7,210 | ||
| M&G Corporate Bond Sterling A Inc. |
7,917 | 9,065 | ||
| 105,805 | 128,589 | |||
| Analysis of charitable expenditure | ||||
| Grants to | Governance | Total | Total | |
| beneficiaries | and support | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Direct costs | 147,100 | 10,350 | 157,450 | 131,264 |
4. Analysis of charitable expenditure
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THE NOEL BUXTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
5. Analysis of grants
| Grants supporting African communities Grants supporting families affected by domestic abuse Grants supporting prisoners |
Number 2020 Total 2020 £ Number 2019 Total 2019 £ 11 39,100 9 47,800 13 45,500 12 37,000 25 62,500 18 35,000 |
|---|---|
| 49 147,100 39 119,800 |
6. Management and administration costs
| Administrator’s fee Post, email, web hosting and other office expenses, including manager’s transport to meeting Bank fees Sundries 7. Governance costs Annual subscriptions Meeting expenses Trustees' expenses Independent examiner's fees 8. Fixed asset investments Market value At 1 January 2019 Additions Disposals Unrealised gain/(loss) on investment At 31 December 2019 |
Support costs 2020 £ Support costs 2019 £ 9,000 9,380 518 700 100 130 36 9,618 10,246 2020 £ 2019 £ 250 245 32 364 0 160 450 450 732 1,219 2020 £ 2019 £ 2,812,881 2,499,694 - - - 30,000 (378,329) 343,187 |
|
|---|---|---|
| 2,434,552 2,812,881 |
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THE NOEL BUXTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
The Trust’s holdings at market value
| Trust’s holdings at market value | ||
|---|---|---|
| No. units held 2020 M&G Charifund 134,570.868 M&G Charibond 257,510.73 M&G Corporate Bond Sterling A Inc. 621,118.01 |
31 December 2020 £ No. units held 2019 1,847,079 134,570.868 323,124 257,510.73 264,348 621,118.01 2,434,552 |
31 December 2019 £ 2,234,805 319,442 258,634 |
| 2,812,881 |
9. Grant commitments
At 31 December 2020 the Trust had commitments in respect of grants offered subject to conditions which have not been met at year end:
| Within one year: | 2020 £ 2019 £ |
|---|---|
| 26,833 55,800 |
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THE NOEL BUXTON TRUST LIST OF GRANTS FOR THE YEAR ENDED 31 DECEMBER 2020
Grants supporting organisations working in Africa
| Organisation | Location | C-19 | Project |
Grant |
|---|---|---|---|---|
| Advantage | Kenya | C-19 | To provide food and public health |
£1,000 |
| Africa | information to farmers of Makueni | |||
| County. | ||||
| Afford | Communities | C-19 | To support five community groups: |
£1,500 |
| in Africa | DIFN (Nigeria); HIRDA-UK | |||
| (Somalia), RIANA (Kenya), | ||||
| WHEAT MST (Ethiopia) and | ||||
| Bunyoro Kitara Development | ||||
| Association (Uganda) | ||||
| DADREG | Dandora, | C-19 | To provide safety nets to families |
£2,000 |
| Kenya | affected by the loss of income | |||
| resulting from lockdowns in the | ||||
| Dandora Slum. | ||||
| Trio Uganda | Uganda | C-19 | For crisis loans to new and |
£400 |
| established savings group members. | ||||
| Xavier Project | Uganda | C-19 | To support livelihoods activities in |
£5,800 |
| Kampala and help refugees meet their | ||||
| basic needs. | ||||
| Advantage | Kenya | Based in the semi-arid lands of | £3,800 | |
| Africa | Makueni County, this grant funds a | |||
| goat-rearing project using Gala goats | ||||
| bred for dry conditions | ||||
| Anglican | South Sudan | Working with partners in Juba, AID | £5,000 | |
| International | runs a micro-finance initiative for | |||
| Development | women. | |||
| Garden of Hope | Kenya | To promote recovery of the local | £4,980 | |
| economy as the Kibera community | ||||
| adjusts to the impact of the C-19 | ||||
| crisis. | ||||
| Mango Tree | Kenya | To support the fishing communities | £5,000 | |
| of Homa Bay as they diversify into | ||||
| fish farming and agri-businesses. | ||||
| Trio Uganda | Mbale, | To support young people to help set | £4,620 | |
| Uganda | up a social enterprises that are not in | |||
| competition with existing small | ||||
| businesses. | ||||
| Xavier Project | Uganda | To fund business training for refugees | £5,000 |
|
| from South Sudan and D.R.Congo, | ||||
| who fled to Kampala. | ||||
| Totalgrants | £39,100 |
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THE NOEL BUXTON TRUST LIST OF GRANTS FOR THE YEAR ENDED 31 DECEMBER 2020
Grants for organisations supporting families affected by domestic abuse
| Organisation | Location | C-19 | Project |
Grant |
|---|---|---|---|---|
| Darnall Forum | Yorkshire and | C-19 |
Support for Asian mothers needing to |
£3,000 |
| Humberside | feed and school their children during | |||
| C-19, plus helpline. | ||||
| Insight (formerly | West | C-19 | To expand the telephone helpline |
£3,000 |
| DACS) | Midlands | service during the Covid-19 crisis. | ||
| NIDAS | East Midlands | C-19 |
A contribution to the outlay on IT |
£3,500 |
| equipment needed during lockdown | ||||
| Respect | UK | C-19 | Emergencyfundingfor core costs. |
£5,000 |
| Staying Put | Yorkshire and | C-19 |
Freedom Programme for Urdu- |
£3,000 |
| Humberside | speakers during C-19 crisis. | |||
| Ahimsa | South West | To fund courses helping perpetrators | £2,000 | |
| from LGBT community or from | ||||
| troubled families to change their | ||||
| behaviour | ||||
| Chrysalis Centre | North West | To support women whose children | £5,000 | |
| for Change | are on Child Protection Plans or who | |||
| have lost custody of their children | ||||
| because of domestic abuse. | ||||
| Darnall Forum | Yorkshire and | To fund a project supporting young | £1,000 | |
| Humberside | wives from BAME communities who | |||
| are abused by in-laws. | ||||
| Glow (part of | West | To run the Recognise and Reconnect | £5,000 | |
| Honeycomb | Midlands | parenting programme for domestic | ||
| Service) | abuse survivors | |||
| Nottinghamshire | East Midlands | To help fund the 'Strengthening | £5,000 | |
| Independent | Families Programme', supporting | |||
| Domestic Abuse | parents and children to address | |||
| Service | behavioural, social, academic and | |||
| emotional needs following abuse. | ||||
| Respect | England and | To support the APPG on Perpetrators | £5,000 | |
| Wales | of Domestic Abuse, where Respect | |||
| has secretariat role | ||||
| Staying Put | Yorkshire and | To run the Freedom Programme in | £3,000 | |
| Humberside | Urdu and Polish for local women | |||
| survivors of abuse. | ||||
| Vesta Specialist | North West | Core costs for a charity supporting | £2,000 | |
| Family Support | Polish women survivors of abuse. | |||
| Totalgrants | £45,500 |
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THE NOEL BUXTON TRUST LIST OF GRANTS FOR THE YEAR ENDED 31 DECEMBER 2020
Grants for organisations working with prisoners and former offenders
| Organisation | Location | C-19 | Project |
Grant |
|---|---|---|---|---|
| Footprints | South East | C-19 | To contribute to core costs of basic |
£1,500 |
| Project | support services including food | |||
| deliveries and telephone helpline. | ||||
| Jericho Road | East Midlands | C-19 |
To coordinate a crisis-response |
£1,500 |
| package for early release prisoners. | ||||
| Kairos | West | C-19 | Basic support to vulnerable women, |
£1,500 |
| Midlands | who have left prison facing | |||
| homelessness and are now housed in | ||||
| isolation during the C-19 lockdown. | ||||
| Khulisa | 5 UK Prisons | C-19 | Adapting current support |
£1,500 |
| programmes to be delivered via | ||||
| postal and internet platforms. | ||||
| SOFA Project | South West | C-19 | To contribute to the core costs of its |
£1,500 |
| 'Social Fund' which provides essential | ||||
| white goods to vulnerable people. | ||||
| Upper Room | South East | C-19 | To help train ex-offenders to drive |
£1,500 |
| delivery vehicles for C-19 work. | ||||
| 3 Pillars | South East | To bring young offenders into | £2,500 | |
| mentoring and support networks, | ||||
| including access to training and job | ||||
| opportunities. | ||||
| A Band of | East Midlands | Supporting rehabilitation of young | £2,500 | |
| Brothers | male offenders using a programme of | |||
| Leamington Spa | peer mentoring with a range of role | |||
| models. | ||||
| BTEG | England | Support for BTEG's work with | £5,000 | |
| BAME communities relating to the | ||||
| criminal justice system. | ||||
| Changing Tunes | South West | To support music workshops in | £1,000 | |
| prisons and with ex-offenders, using | ||||
| online platforms to connect safely | ||||
| during lockdown. | ||||
| Create | HMP Durham | Supporting women prisoners with | £1,000 | |
| their financial literacy. | ||||
| Footprints | South East | Providing through the gate mentoring | £2,000 |
|
| Project | support to male and female prisoners | |||
| Humbercare | Yorkshire and | To fund a 'Circles of Support' scheme | £2,000 |
|
| Humberside | for sex-offenders at high risk of | |||
| reoffending. | ||||
| Jericho Road | East Midlands | Support for women prisoners and ex- | £1,500 | |
| offenders who have been sex | ||||
| workers. |
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THE NOEL BUXTON TRUST LIST OF GRANTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Kairos Women | West | To help fund a prison in-reach and | £3,000 |
|---|---|---|---|
| Working | Midlands | resettlement project, for women | |
| Together | needing to find routes out of sex work | ||
| and addiction. | |||
| Khulisa | 5 UK Prisons | To support a rehabilitation project for | £1,000 |
| prisoners, with special emphasis on | |||
| mentoring to reduce violence | |||
| Landworks | South West | Supporting prisoners and ex- | £3,000 |
| offenders by offering training courses | |||
| and outdoor work in the Dartington | |||
| estate. | |||
| Maslaha | England | Support for Maslaha's work with | £15,000 |
| BAME communities and the CJS | |||
| Morton Hall | Morton Hall | To fund the volunteers who visit | £3,000 |
| Detainee Visitors | Immigration | detainees, many of whom have no | |
| Group | Detention | UK contacts and need help to | |
| Centre | understand the immigration process | ||
| Prodigal Arts | South West | A tiny arts organisation set up in | £2,000 |
| 2016 has been working in 2 prisons in | |||
| the South West and plans to take its | |||
| visual arts workshops into more | |||
| prisons. | |||
| Sixty-one | Bristol | To support a church-led initiative | £1,000 |
| bringing together charity and | |||
| business communities to support | |||
| prisoners and ex-offenders. | |||
| SOFA Project | South West | To support the provision of work | £1,000 |
| placements for older prisoners from | |||
| HMP Leyhill at SOFA's furniture | |||
| repair workshops. | |||
| Surrey Care | South East | To support older ex-offenders with | £1,000 |
| Trust | mentoring and training by providing | ||
| supervised environmental work along | |||
| the River Wey. | |||
| The Upper Room | South East | To support UR4Driving - a project | £3,000 |
| that teaches former offenders to drive | |||
| in return for their contribution as | |||
| volunteers in UR's food distribution | |||
| projects. | |||
| Yorkshire Youth | Yorkshire | To run music workshops in the | £3,000 |
| and Music | mother and baby units of two prisons | ||
| Totalgrants | £62,500 |
In addition to these grants, our retiring Trustee, John Littlewood, nominated CHICKS, to receive a donation of £1,000. CHICKS is a charity that gives inner city kids the experience of a holiday in the country.
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