BARRON BELL TRUST (Registered Charity No. 228846)
FINANCIAL STATEMENTS YEAR ENDED 19 FEBRUARY 2021
CONTENTS
- STATEMENT OF ASSETS AND LIABILITIES 2. RECEIPTS AND PAYMENTS ACCOUNT 3. INCOME STATEMENT 4. EXPENDITURE STATEMENT 5. LIST OF GRANTS APPROVED BUT NOT PAID 6. ACCUMULATED INCOME ACCOUNT 7. MANAGING TRUSTEES’ REPORT 8. INDEPENDENT EXAMINER’S REPORT
BARRON BELL TRUST
STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 19 FEBRUARY 2021
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2020 2021
FIXED ASSETS
Computer Equipment 750.00 562.00
750.00 562.50
CURRENT ASSETS
COIF Shares @
Valuation 28?02/21
34276 Shares 558150.38 601009.0
9
17971 Shares 292639.76 315110.7
0
850790.1 916119.7
4 9
Bank Accounts
Current A/C no: 11347762 1157.43 0.47
Gold Dep. A/C no: 123403.65 0.06
11347770
Special Int. A/C no: 1.02 NIL
10052998
Select A/C No10798922 10.27 126461.8
3
124572.3 126462.3
7 6
TOTAL ASSETS 976112.5 1043144.
1 60
CURRENT LIABILITIES
Grants Approved 30000.00 29500.00
NET ASSETS
Represented by £946112. £1013644
Accumulated Reserves 51 .60
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The Accounts were Approved by the Trustees on
Signed on Behalf of the Trustees
……………………………………… Ian H Walrond Managing Trustee Barron Bell Trust
R8gi5t8red Charity No. 228846
BARRON BELL TRUST
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 19 FEBRUARY 2021
Balance brought forward 20 February 2021
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Receipts Payments
Current A/C 1157.43
11347762
Gold Dep. A/C 123403.65
11347770
Spe. Int A/C
10052998 1.02
Select A/C 10.27
107989922
124572.37
INCOME
COIF Dividends 27090.04
Bank Interest:
Gold Dep. A/C 1
11347770 7.26
Sp. Int. A/C Nil
10052998
Safe Custody 20.00
Funding
Compensation 250.00
Payment
27377.30
EXPENDITURE
Admin Expenses 827.31
Trustees Fees 660.00
Grants paid to Bell 24000.00
funds
25487.31
BANK
RECONCILIATION
Balances @
19/02/2021
Current A/C 0.47
11347762
Gold Dep A/C 0.06
11347770
Current A/C 126461.88 126462.36
40130942
Balance c/f 19/02/21 151949.67 151949.67
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BARRON BELL TRUST
INCOME STATEMENT FOR THE YEAR ENDED 19 FEBRUARY 2021
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DATE AMOUNT TOTAL
CHARITIES OFFICE INVESTMENT FUND
DIVIDENDS
28/02/20 4277.64
2242.78
29/05/21 4521.00
2370.37
28/08/21 4521.00
2370.37
30/11/21 4452.45
2334.43
27090.04
ROYAL BANK OF SCOTLAND INTEREST PAID
Gold Deposit Account no 11347770
02/03/21 17.20
01/04/21 0.06
17.26
Special Interest Bearing Account no
10052998 Nil
Nil
Safe Custody Funding 20.00
20.00
Compensation Payment 250.00
250.00
TOTAL 27377.30
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BARRON BELL TRUST
EXPENDITURE STATEMENT FOR THE YEAR ENDED 19 FEBRUARY 2021
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DATE A/C PAYEE DESCRIPTION AMOU TOTAL TOTAL
NO NT
ADMINISTRATIVE EXPENSES
17/09/20 …… RBS Safe Custody 19.53
762
16/03/20 …… Post Office Postage 32.94
824
26/03/20 …… RB Book Keeping 9600
824 Accountancy
17/09/20 …… SE Railway Train Travel 28.40
824
28/09/20 …… Neil Thomas Accountancy 325.00
824 FCA
17/11/20 Post Office Postage 40.32
……824
09/12/20 …… Act! Database Maintenance 285.12
824
827.31
EXPENDITURE ON GRANTS TO BELL FUNDS
DATE A/C PAYEE APPLICANT REF AMOUN
No T
09/06/20 …… Necton PCC All Saints Necton 3525 500.00
824
09/06/20 …… John Taylor & All Saints Holbeton 36 3000.00
824 Co 44
28/09/20 …… John Taylor & St James Snitterfield 3663 2000.00
824 Co
22/10/20 …… Nicholsons All Saints Upper 4000.00
824 Sheringham 3639
16/11/20 …… John Taylor & St Peter Machynlleth 3645 2000.00
824 Co
16/11/20 …… Calstock PCC St Andrew Calstock 3633
824 3000.00
16/11/20 …… St Stephens St Stephens Fylingdales 3666 1500.00
824 PCC
04/01/21 …… Pitminster St Andrew & St Mary 3670 2000.00
942 PCC Pitminster
04/01/21 …… Nicholsons All Saints St Ewe 3640 3000.00
942
08/01/21 …… Whites St Mary the Virgin Long 3627 3000.00
942 Appleton Wittenham
24000.
00
TRUSTEES FEES
DATE A/C PAYEE DESCRIPTION AMOU
No NT
06/03/20 …… N D L Kidson Fees 200.00
824
06/03/20 …… A G Bryant- Fees 100.00
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824 Fenn
06/03/20 …… I H Walrond Fees
824 360.00
660.00
TOTAL 25487.
31
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BARRON BELL TRUST
GRANTS APPROVED BEFORE 19 FEBRUARY 2020 BUT NOT PAID AT 19 FEBRUARY 2021
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REF PARISH GRANT AMOUNT STATUS
DATE
3447 St John the Baptist Corby 14/11/16 500.00 In Abeyance
3495 St Bartholomew East Ogwell 22/03/15 In Abeyance
3000.00
3621 All Saints Ruskington 21/11/19 2000.00 Invoice
Awaited
3629 St Michael Bishop Stortford 21/11/19 4000.00 Invoice
Awaited
3650 St George Didbrook 21/11/19 2000.00 Invoice
Awaited
3600 Holy Cross Slapton 27/11/18 3000.00 In Abeyance
TOTAL £ 14500.00
GRANTS APPROVED BUT NOT PAID IN YEAR TO 19 [th]
FEBRUARY 2021
3643 St Michael Braintree 09/06/20 3000.00 Inv Awaited
3663 St Michael & All Angels 21/08/20 1500.00 Inv Awaited
Winterbourne Earls
3657 St Swithuns Great Chiswell 09/06/20 3000.00 Inv Awaited
3664 St Peter & St Paul Belton 10/03/21 1500.00 Inv Awaited
3667 St Edward Goathurst 21/08/20 2000.00 Inv Awaited
TOTAL £ 10000.00
CONTINGENCY FOR £ 5000.00
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WITHDRAWN GRANTS
TOTAL £ 29500.00
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BARRON BELL TRUST
ACCUMULATED INCOME ACCOUNT FOR THE YEAR ENDED 19 FEBRUARY 2021
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ACCUMULATED INCOME @ 20 FEBRUARY
2020
2020 2021
Current A/C 1157.43
126461.83
Gold Dep A/C 123403. 0.06
65
Sp. Int. A/C 1.02 0.47
Select Account
10.27 Nil
124572. 126462.3
37 6
INCOME FOR YEAR
COIF Dividends 26551.9 27090.04
1
Gold Dep. Int 385.00 17.26
Sp Int A/C Int Nil Nil
Safe Custody Nil 20.00
Funding
Compensation Nil 250.00
Payment
27377.30
26936.9
1
Disposable 151509. 153839.
Income 28 66
EXPENDITURE FOR YEAR
Administration 1330.29 827.31
Trustees Fees 660.00 660.00
Grants Paid 28500.0 24000.00
0
Bank Charges 25.00 Nil
Petty Cash 750.00 Nil
31265.2 25487.3
9 1
Disposable 120243. 128352.
Income Available 93 35
at year end 19
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Feb 201
Grants Approved 30000.0 29500.0
but not yet paid 0 0
Accumulated £90243 £98852
Uncommitted .94 .35
Income as at 19
Feb 201
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BARRON BELL TRUST
REPORT OF MANAGING TRUSTEES FOR YEAR ENDED 19[th] FEBRUARY 2021
The Trustees of the Charity remain the same at the end of the year as at the beginning:
Ian Walrond Managing Trustee Nigel Kidson Financial Trustee Ann Bryant-Fenn Ecclesiastical Trustee
The applications have remained steady at 17 application forms sent out. All these applicants are invited to complete our standard application form and the total number of application forms considered this year was 20 which included some applications from the previous year. Of these 11 were offered Grants, 5 were refused, and 4 were invited to come back when two thirds of the required money has been raised. All the application forms sent out have been received or have had chasers sent. All these applications are considered against the parameters set down in the original Trust Deed.
As a result of our considerations, and in line with the Trustees policies, 11 grants were approved to a total of £18500 which is rather less than our desire to accord with our policy of reduction in the Accumulated Income Fund. Over the 12 month period, invoices have been received in connection with 10 grants approved during both the year and previously. A total of £24000 was paid to the various bellhangers and founders against 12 grants paid to a total of £28500 the previous year.
In this year we have found our returns from the Charities Official Investment Fund at £27090 have increased significantly over last year at £21870.59. The total Royal Bank of Scotland interest has decreased in both accounts dramatically. This follows the general reduction in bank interest rates with a derisory combined income from the bank accounts of £17.26. Total income for the year amounted to £27377 – a significant increase again over last year.
The operation of the Royal Bank of Scotland Accounts has caused some issues. Bank charges were incurred from a Safe Custody Charge and the need to obtain statements not previously supplied. These have been challenged again as they have not been charged previously. We experienced difficulties operating the online banking with the result that we attempted to set up another RBS account, but this also proved unsatisfactory.
In the end we have changed Banks to Metrobank who were able to operate the on line arrangements that we required. To date this has been
satisfactory. This has caused some complication with the Accounts but this has been dealt with.
Passing to the administrative expenses, there has been a decrease to £827, and the costs now amount to 3% of the income. The reason for this was principally because the Trustees did not have an in person meeting because of Covid restrictions. The grant business was conducted largely by correspondence. Casual Secretarial assistance was not employed, and stationery expenses were charged by the Managing Trustee’s company.
Considering the statement of assets and liabilities, there has been an increase in the capital value of the shares held at the Charities Official Investment Fund of about 7.6%. This reflects the activity in the Stock Market Indices for the period. Despite the Trustees policy of endeavouring to dispose of rather more of the accumulated income, the accumulated disposable income has increased to a figure of £128352. We suspect that there has been a reduction in work started to bell work as a further result of Covid. This gives us a workable buffer but means that our grants could be more generous in the coming year with the increase in income.
With £29500 committed, we can now manage the grants book and consider making larger grants to align with our declared policy. We must also endeavour to ensure that those grants which have been promised but have no realistic likelihood of being invoiced are identified. We must continue dialogue to ascertain the position so that the funds can be reallocated if appropriate. The situation is of course governed by the merits of the applications and the speed at which applications are made and application forms returned.
The Trustees remain of a mind to approve a lesser number of larger grants rather than a larger number of smaller grants. Of the applications that are currently live, there are only 11 applications where grants are approved but no invoices have been received. There are applicants from whom we are waiting application forms who have been chased. There are now 6 applications currently held in abeyance where applicants have either been asked for additional information or they have been placed in abeyance pending the time when the applicants have raised rather more of the money they are seeking. When this has occurred, we will consider the applications.
The situation with regard to applications is, to some extent, controlled by the Trustees, by the speed at which correspondence is dealt with. We make no apologies for this. Many applications fall away as the initial enthusiasm for fund raising diminishes. There is no point in the Trustees committing time and large sums to funds where there is little likelihood of the project proceeding. Initial letters received are replied to with application forms in batches rather than individually. As a result, there is
often some time between the initial letter and the sending out of the form. This allows a period of realism to settle on the fundraisers and several of the applications fall away and applications are never received. We do not consider grants where less than two thirds of the fund has already been raised. This makes sure that we are contributing towards funds that have a realistic chance of achieving their goal. It also means that we give a boost to the fund at a time when fundraising may be faltering.
In conclusion, the capital value of the Trust enjoyed a significant rise in the Charities Official Investment Fund, but income remains similar. There is a steady flow of applicants and there are no signs of decline in the popularity of bellringing.
Ian H Walrond Managing Trustee, Barron Bell Trust Registered Charity No. 228846
INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF BARRON BELL TRUST (Registered Charity No. 228846)
This report on the attached accounts of the Barron Bell Trust for the year ended 19[th] February 2021 is in respect of an examination carried out under Section 145 of the Charities Act 2011 (“The Act”)
Respective Responsibilities of Trustee and Examiner
As the Charity’s Trustees, you are responsible for the preparation of the account; you consider that an audit is not required for this year under Section 144 the Act. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under Section 145(5)(b) of the Act, whether particular matters have come to my attention.
Basis of Independent Examiners Report
My examination was carried out in accordance with the General Directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also
includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently, I do not express an audit opinion on the view given by the accounts.
Independent Examiners Statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect the requirements
-
(i) to keep accounting records in accordance with Section 41 of the Act; and
-
(ii) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act; have not been met;
- or
-
to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
NEIL THOMAS
CHARTERED ACCOUNTANT
Linfield Maynards Green East Sussex TN21 0DG
Dated: