## 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| 2 **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: 1. 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. 2. Work with families affected by domestic abuse in Britain. Trustees fund projects that work with survivors or perpetrators of domestic abuse. 3. 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** 3 **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. 4 ## ## ## ## ## ## ## ## ## **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. 7 **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. 9 **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| 10 **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** 11 **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**| 12 **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**| 13 **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**| 14 **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**| 15