The Noel Buxton Trust
Report and Accounts
For the year ended 31 December 2021
Registered Charity No. 220881
THE NOEL BUXTON TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
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.
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 | |
| Jo Tunnard (Vice-chair) |
| 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 2 |
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THE NOEL BUXTON TRUST TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
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 2021. 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 2021 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.
Principal funding sources
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THE NOEL BUXTON TRUST TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
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 were delighted to welcome James Buckley to join the Board, and help shape the Board’s thinking on investment issues. James has many years of experience as an investment manager and has additional qualifications in ESG investing.
The Board met twice in 2021 via the internet. 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
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 86 appropriate new appeals and made 23 new grants. In addition, Trustees renewed grants to 9 existing beneficiaries, making, in total, 32 grants.
This year, Trustees spent £110.133 (2020: £147,100) supporting work that had direct public benefit in the form of grants. A full list of grants is given in pages 14-16.
Trustees intend to learn from the experience of making grants, and actively encourage beneficiary organisations to report on their work.
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THE NOEL BUXTON TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Note Income Investment income 3 Interest from CAF 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 |
2021 2020 Unrestricted Unrestricted 112,515 105,805 1 858 |
|---|---|
| 112,517 106,663 |
|
| - - 120,635 157,450 - 1,000 |
|
| 120,635 158,450 |
|
| (8,119) (51,787) 223,840 (378,329) |
|
| 215,721 (430,116) |
|
| 2,573,724 3,003,840 |
|
| 2,789,445 2,573,724 |
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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THE NOEL BUXTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 2021
(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 (2020: £nil). Expenses paid to the Trustees in the year totalled zero (2020: £nil). There were no related party transactions.
3. Investment income
| nvestment income | |
|---|---|
| Dividend income M&G Charifund M&G Charibond M&G Corporate Bond Sterling A Inc. |
2021 £ 2020 £ 99,582 90,163 6,438 7,725 6,495 7,917 |
| 112,515 105,805 |
4. Analysis of charitable expenditure
| Direct costs | Grants to beneficiaries £ Governance and support £ Total 2021 £ Total 2020 £ |
|---|---|
| 110,133 10,502 120,635 157,450 |
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THE NOEL BUXTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
5. Analysis of grants
| Grants supporting African communities Grants supporting families affected by domestic abuse Grants supporting prisoners |
Number 2021 Total 2021 Number 2020 Total 2020 £ 9 40,133 11 39,100 9 32,000 13 45,500 14 38,000 25 62,500 |
|---|---|
| 32 110,133 49 147,100 |
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 Governance costs Annual subscriptions Meeting expenses Trustees' expenses Independent examiner's fees |
Support costs 2021 £ Support costs 2020 £ 9,000 9,000 531 518 235 100 - - |
|
|---|---|---|
| 9,766 9,618 |
||
| 2020 £ 2020 £ 250 250 36 32 - - 450 450 |
||
| 736 732 |
7. Governance costs
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THE NOEL BUXTON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 8. Fixed asset investments Market value At 1 January 2021 Additions Disposals Unrealised gain/(loss) on investment At 31 December 2021 |
2021 £ 2020 £ 2,434,552 2,812,881 - - - - 223,840 (378,329) |
|---|---|
| 2,658,392 2,434,552 |
The Trust’s holdings at market value
| No. units held 2021 M&G Charifund 134,570.868 M&G Charibond 257,510.73 M&G Corporate Bond Sterling A Inc. 621,118.01 |
31 December 2021 No. units held 2020 2,094,192 134,570.868 312,026 257,510.73 252,174 621,118.01 2,658,392 |
31 December 2020 £ 1,847,079 323,124 264,348 |
|---|---|---|
| 2,434,552 |
9. Grant commitments
At 31 December 2021 the Trust had commitments in respect of grants offered subject to conditions which have not been met at year end:
| Within one year: | 2021 2020 £ |
|---|---|
| £43,333 26,833 |
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THE NOEL BUXTON TRUST LIST OF GRANTS FOR THE YEAR ENDED 31 DECEMBER 2021
Grants supporting organisations working in Africa
| Organisation | Location | Project | Grant |
|---|---|---|---|
| Anglican International Development |
South Sudan |
Working with partners in Juba, AID runs a micro-finance initiative for women. |
£5,000 |
| Berhan Lehetsanat | Ethiopia | To help fund a savings and loans scheme that benefits families with disabled children in Addis Ababa, Ethiopia. |
£4,800 |
| CESA Uganda | Uganda | To provide savings and loans for women- headed households in rural Kavunga, Uganda. |
£5,000 |
| Garden of Hope | Kenya | To continue a training and mentoring programme for young people in the Kibera Slum, Kenya , and to provide cash for business start-ups. |
£5,000 |
| Kisumu Disabled Self help Group (KIDSEG) |
Kenya | To provide Covid-safe employment opportunities for disabled people in Kisumu, Kenya |
£5,000 |
| Organisation for Community Action |
Uganda | To support a women-led business making reusable sanitary products in Lira Uganda |
£5,000 |
| Riana Development Network |
Kenya | To develop agribusinesses with women and young people from disadvantaged communities in Homa Bay Kenya |
£4,000 |
| We See Hope | Kenya | To set up vocational training for street children who come into the 'transit town' of Nakuru, Kenya and are otherwise prey to drug gangs. |
£2,333 |
| Zena Launch Pad | Uganda | To support women-led micro-businesses in Busoga Uganda to gain access to UK and US markets. |
£4,000 |
| Total of nine grants | £40,133 |
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THE NOEL BUXTON TRUST LIST OF GRANTS FOR THE YEAR ENDED 31 DECEMBER 2021
Grants supporting organisations working with families surviving domestic abuse
| Organisation | Location | Project | Grant |
|---|---|---|---|
| Chrysalis Centre for Change |
North West |
To support women whose children are on Child Protection Plans or who have lost custody of their children because of domestic abuse. |
£5,000 |
| First Light South West | South West |
To help fund_Tell Me_, a mentoring service for survivors of domestic abuse. |
£3,000 |
| DAVSS | South East |
To help fund existing services providing confidential advice to survivors of domestic abuse. |
£3,000 |
| Glow (part of Honeycomb Charitable Services) |
West Midlands |
To run the_Recognise and Reconnect_parenting programme for domestic abuse survivors |
£5,000 |
| New Leaf Support | Swale | To support the core costs of a domestic abuse charity that offers a range of services to families in Kent. |
£4,000 |
| Norfolk Community Law Service |
East Anglia |
To support a free legal advice service that is working in partnership with local domestic abuse charities in Norfolk. |
£3,000 |
| Staying Put | Bradford | To help fund an online craft group that is a safe space for women affected by domestic abuse to meet peers during lockdown. |
£2,000 |
| The Dash Charity | South | To support core costs of charity that offers help to families affected by domestic abuse |
£3,000 |
| Women's Health Matters | Leeds | To help fund support groups for young women and pregnant women who are affected by domestic abuse |
£4,000 |
| Total of nine grants | £32,000 |
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THE NOEL BUXTON TRUST LIST OF GRANTS FOR THE YEAR ENDED 31 DECEMBER 2021
Grants supporting organisations working with prisoners and former offenders
| Organisation | Location | Project | Grant |
|---|---|---|---|
| 2makeit | South East | To support the core costs of creative programmes for prisoners when their workshops had to go online during lockdown. |
£1,500 |
| 3 Pillars | South East | To support the core costs of mentoring service that uses rugby coaching to mentor young former offenders |
£2,500 |
| A Band of Brothers Leamington Spa |
East Midlands |
ABOB helps young male offenders with rehabilitation, using a programme of peer mentoring with a range of role models. |
£2,500 |
| AVID | UK | To help fund a training programme for volunteers joining AVID's support work with immigrations detainees. |
£2,000 |
| HALOW | East Midlands |
To help fund_Jolly Tots_, a programme that facilitated parent-child contact during lockdown. |
£2,000 |
| Jericho Road | Nottingham | Support for women prisoners and ex- offenders who have been sex workers. |
£1,500 |
| Kairos Women Working Together |
West Midlands |
To help fund a prison in-reach and resettlement project, for women needing to find routes out of sex work and addiction. |
£3,000 |
| Lifecycle UK | South West | To help fund_BikeBack_, a programme offering training in bike mechanics and work placements to prisoners. |
£2,000 |
| Nepacs | Durham | To support the core costs of an online volunteering project to help support prisoners during court visits. |
£4,000 |
| New Bridge Foundation | England and Wales |
To help fund a befriending and mentoring service that went online during lockdown. |
£3,000 |
| Resume Foundation | East Midlands |
To help fund_Project Venture_which offers mentoring and training to ex-offenders who want to start their own business. |
£4,000 |
| Sixty One | South West | To run_MentorMe_, a project that brings prisoners and former offenders together with volunteers trained to listen and advise. |
£4,000 |
| Soft Touch Arts | East Midlands |
To help fund_Cre8tive TV_, a prisoner-led programme of arts activities delivered via TV to prisoners when confined in their cells. |
£3,000 |
| The Upper Room | London | To support_UR4Driving_- a project that teaches former offenders to drive in return for their efforts as volunteers. |
£3,000 |
| Total of fourteen grants | £38,000 |
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