## **BATH DISABILITY TRUST**
**64th ANNUAL REPORT**
**AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
**CHARITY NUMBER 231502**
**BATH DISABILITY TRUST**
## **INDEX TO THE 64[th] ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|Page||
|---|---|
|1|General Information|
|2-5|Report of the Trustees|
|6|Report of the Independent Examiner|
|7|Statement of financial activities|
|8|Balance sheet|
|9-11|Notes to the financial statements|
## **BATH DISABILITY TRUST**
## **TRUSTEE’S REPORT FOR THE YEAR ENDED 31 MARCH 2021**
## **Reference and administrative information**
## **President**
The Right Worshipful the Mayor of Bath
## **Vice Presidents**
Loraine Morgan-Brinkhurst Valerie Dawn Fear MBE
|**Trustees**|**Appointed**|**Reappointed**|**Retires**|
|---|---|---|---|
|Mrs Elsie Ann Barber – Chairman|June 2006|June 2018|June 2021|
|Mr. Michael James Way - Treasurer|June 2003|June 2019|June 2022|
|Mrs. Mary Coath - Secretary|June 2007|June 2019|June 2022|
|Mrs Susan Moor|June 2006|June 2018|June 2021|
|Mr. Ben Rogers – Vice Chairman|June 2007|June 2019|June 2022|
|Mrs Jane Jones|June 2009|June 2018|June 2021|
|Mr David Hughesdon|June 2012|June 2018|June 2021|
|Mrs Christine Sivyour (co-opted July 2019)|||June 2021|
## **Correspondence address**
## **5 Napier Road, Weston, Bath. BA1 4LN**
## **Charity Number: 231502**
## **Independent Examiner**
GC Barber, Chartered Accountant, Graham Barber Accountancy Limited, 4 Beaufort West, Bath, BA1 6QB
## **Bankers**
CAF Bank Ltd, 25 Kings Hill, West Malling, Kent, ME19 4JQ
## **Solicitors**
Stone King LLP, 13 Queen Square, Bath BA1 2HZ
## **Investment Advisors**
## **Report of the trustees for the year ended 31 March 2021**
The Trustees have pleasure in presenting their annual report and the financial statements for the year ended 31 March 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 constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
1
## **BATH DISABILITY TRUST**
## **TRUSTEE’S REPORT FOR THE YEAR ENDED 31 MARCH 2021**
## **Structure, governance and management**
The Association was formed on the 10[th] June 1953 as an association of voluntary bodies concerned with providing assistance for the disabled in the City of Bath. This continued until 1992 when a legacy of just under £500,000 was left by Mrs. Audrey Gosbell to the Association. The sum of £180,000 was immediately given to the Combe Down Holiday Home, a subsidiary which was then detached as a separate entity, and the remainder invested.
The Charity is an unincorporated trust, constituted under a trust deed dated May 1992 and is a registered charity, number 231502. A committee of trustees was appointed. On 14[th] September 1993 the first meeting of the trustees was held. On 19 November 2012 the name of the charity was changed from Bath Association for Disabled People to Bath Disability Trust.
Trustees are selected on the basis of knowledge and experience and for the contribution they can make to the management of the charity’s affairs. Trustees are elected to serve a term of three years. The minimum number of Trustees is 7 and the maximum 12. A Trustee may be co-opted during the course of a year, but then must be elected at the next Annual General Meeting.
The Trustees meet on 5-6 occasions a year and control the overall strategy and direction of the charity, meeting to consider applications for funding and grants, investments, reserves and risk management policy. The Officers are responsible for day to day management.
The induction process for any potential trustee is an initial suggestion by a current trustee, followed by a short deliberation by the Chairman and any other officer. This is followed by an introduction at the next meeting of the Trustees after which, if both sides are content, the new trustee is co-opted. This is ratified by appointment at the next Annual General Meeting. Training is by way of explanation and instruction at the regular meetings of Trustees.
The Trustees who have served during the year are shown on page 1. Mr M J Way, Mrs M T Coath and Mr B Rogers retired at the 2019 the Annual General Meeting and were re-elected. Mrs C Sivyour, co-opted since the 2019 AGM will retire at the next AGM. As a result of the restrictions imposed by COVID-19 no 2020 AGM has been held, so Mrs Sivyour remains a co-opted Trustee. All trustees give their time freely. There is no chief executive or other management personnel. Re-imbursement of expenses to trustees is stated in note 5 to the financial statements.
## **Risk management**
The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established procedures to manage those risks. The Trustees consider variability of investment returns to constitute the Trust’s major risk and have taken steps to invest in three of the four main asset classes.
## **Object of the charity**
The object of the Trust is to provide relief to disabled persons and to alleviate the effect of such disability within Bath and District. Bath & District means the City of Bath and its contiguous parishes. In furtherance of its object but not further of otherwise the Trust has the power to;
- a. provide or assist in the provision of accommodation adapted to the needs of disabled persons;
- b. advance the education and training of disabled persons;
- c. provide recreational facilities for disabled persons with the object of improving the conditions of life of disabled persons;
- d. provide equipment to alleviate the direct consequences of disability;
- e. act as a co-ordinating body for all organisations interested in the relief of disability within Bath and District;
- f. employ and pay any person or persons, not being Trustees, to supervise, organise and carry out the work of the Trust and make all reasonable and necessary provision for the payment of pensions and superannuation to or on behalf of employees and their widows, widowers and dependants;
2
## **BATH DISABILITY TRUST**
## **TRUSTEE’S REPORT FOR THE YEAR ENDED 31 MARCH 2021**
- g. appoint delegates and representatives to any other bodies with which the Trust may be concerned;
- h. bring together in conference representatives of voluntary organisations, Government departments, statutory authorities and individuals;
- i. promote and carry out, or assist in promoting and carrying out, research, surveys and investigations and publish the useful results of such research, surveys and investigations;
- j. arrange and provide for, or join in arranging and providing for, the holding of exhibitions, meetings, lectures, classes, seminars and training courses;
- k. collect and disseminate information on all matters affecting such object and exchange such information with other bodies, having similar objects, in whatever jurisdiction;
- l. constitute, undertake, execute, manage or assist any charitable trusts which may lawfully be undertaken, executed, managed or assisted by the Trust;
- m. procure to be written and print, publish, issue and circulate gratuitously or otherwise such papers, books, periodicals, pamphlets or other documents or films or recorded tapes or similar media as shall further such object;
- n. purchase, take on lease or exchange, hire or otherwise acquire any property and any rights and privileges necessary for the promotion of such object and construct, maintain and alter any buildings or erections necessary for the work of the Trust;
- o. make regulations for any property which may be so acquired; subject to such consents as may be required by law, sell, let, mortgage, dispose of or turn to account all or any of the property or assets of the Trust;
- p. subject to such consents as may be required by law, accept gifts whether in the form of permanent endowment or otherwise, for the general purposes of the Trust or for any special purpose connected with the Trust;
- q. borrow or raise money for such object on such terms and on such security as shall be thought fit; procure contributions to the Trust by personal or written appeals, public meetings or otherwise;
- r. invest the money of the Trust, not immediately required for such object, in or on such investments, securities or property, as may be thought fit, to the intent that the Trust shall have the same powers in all respects as beneficial owners beneficially entitled;
- s. employ any person, firm or company, not being a Trustee, to manage or assist in managing the Trust’s investments upon such reasonable terms as the Trustees think fit;
- t. vest any property or investment belonging to the Trust in any corporation or any other person as nominee for the Trustees;
- u. do all such other lawful things as are necessary for the attainment of such object.
## **Grant making policy**
The charity welcomes grant applications from both individuals and organisations working towards the same objectives. Bids for grants which must be submitted on the Trust’s application form are considered at the next meeting of the Trustees, with two Trustees acting as case officers where necessary, to assess the appropriateness and authenticity of the application.
## **Achievements and performance**
## **Financial review**
The Trust is reliant on the income from its investments. The total value of the Trustees’ holdings in the portfolio rose by £195,217 or 22.38% during the year to 31[st] March 2021 (following a fall of £202,933 in the previous year). Regular income produced by the investments totalled £34,226 (2020 - £41,519). Administrative costs have again been kept to a minimum.
3
## **BATH DISABILITY TRUST**
## **TRUSTEE’S REPORT FOR THE YEAR ENDED 31 MARCH 2021**
## **Investment policy and performance**
The valuation of the portfolio at the 2020 year end took place against only a brief recovery in the FTSE100 from a 5 year low on 20 March 2020, the day that national lockdown was announced.
The Trustees’ portfolio aims to provide a stable and rising income together with capital growth over the longer term. It continues to meet these objectives.
## **Reserve policy**
Following the receipt of Mrs. Gosbell’s legacy in 1992, the Trustees decided to invest the funds to generate future income. A cash balance of 1 to 2 times annual expenditure is normally maintained on deposit in the CAF Bank, attracting a competitive rate of interest whilst preserving accessibility should particular needs arise. Other funds have been transferred to interest earning bank and building society accounts.
## **Grants awarded**
The Trustees have made donations of £21,129 (2020 - £62,833), helping 5(7) individuals and 1 (5) organisations. A further £30,000 (2020 - £600) is committed.
The current method of operation, through word of mouth and through the member organisations, produces enough applications and allows the Trustees to make sufficient grants of adequate size without having to pare down to spread the monies available over a greater number of applicants.
## **Public benefit**
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit, specifically section 17(5) of the Charities Act 2011 when making grants during the year and in planning their grant making activities for the year ahead and continue to provide relief to disabled persons and to alleviate the effect of such disability within Bath and District.
## **Impact of COVID-19**
The Trustees were aware that income from the portfolio would be significantly lower in the year ending 31 March 2021 than it was in the previous year. However, by maintaining adequate accessible cash reserves, the Trustees ensured that the reduction in income did not hamper the normal grant making activities of the Trust.
4
## **BATH DISABILITY TRUST**
## **TRUSTEE’S REPORT FOR THE YEAR ENDED 31 MARCH 2021**
## **Trustee’s responsibilities in relation to the financial statements**
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceptable Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements giving a true and fair view, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities Statement of Recommended Practice;
make judgements and estimates which are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and:
prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Approved by the Trustees on 6 December 2021 and signed on their behalf by:
Mrs M T Coath Trustee & Honorary Secretary
5
## **BATH DISABILITY TRUST**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
I report on the financial statements of the Trust for the year ended 31 March 2021, which are set out on pages 7 to 12.
## _Responsibilities and basis of report_
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“The Act”).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## _Independent examiner’s statement_
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or,
- the accounts do not accord with those records; or,
- the accounts do not comply with the accounting requirements concerning form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of my examination.
I have no concerns and have come across no other matters in connection with the examination which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Name of principal: Name of firm: Relevant professional qualification or body: Address:
Date:
Graham Barber Graham Barber Accountancy Limited Chartered Accountant 4 Beaufort West, Bath, BA1 6QB 6 December 2021
6
BATH DIS.4BILm" TRIST
sT.4TEl4IE OF FTh A)CL4L ACTIIITIES
FOR THE ITAR EI)ED 31)L4RCH 2021
unreStrted Funds
Note5
2021
2020
lllcome and eDdowments:
34226
182
41_519
873
tnterest receMble
Total
37,408
42.392
Expeaditllre
C05t of raising funds:
(500)
250
250
Expenditure o• cbaritable actiiities:
Grants nllde
Other costs
21,129
62.833
1.068
5&6
22,012
63.901
Total expemdithre
21,512
&1.151
'et Incomelff xpenditsre) for the l'ear
before gaillsl(losses) oll iDi"estmeDts
15,896
(21.759)
GaiDsIOosses) on illvestments
195218
(202_933)
Net IncomellExpettdit•re) for the l'ear
and 1Set ,I03-eMeNt in Funds
211J14
(224.692)
Balanees b[0ght fon4•d
BalaAces carried fonvard
1,004,597
121$ 711
1.229.289
1.004.497
The notes on pages 9 to I I fonD of these fllthllcia ststemerts
## **BATH DISABILITY TRUST**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2021**
|Notes
**Fixed Assets**
Investments - listed securities
7
**Current Assets**
Interest receivable
Bank deposit balances
Bank current account balances
**Creditors**: Amounts falling due
within one year
8
**Net Current Assets**
**Total Assets Less Current Liabilities**
**Accumulated funds**
Unrestricted funds
Restricted funds
**Total funds as at 31 March 2021**|**£**
**£**
**£**
**£**
**1,070,610**
875,393
**60**
150
**128,048**
127,654
**17,677**
2,827
**145,785**
130,631
**684**
1,427
**145,101**
129,204
**1,215,711**
1,004,597
**1,215,711**
1,004,597
**-**
-
**1,215,711**
1,004,597
**2021**
2020
Unrestricted Funds|
|---|---|
The financial statements were approved by the trustees on 6 December 2021
Mrs E A Barber Trustee & Chair
Mr M J Way Hon. Treasurer
The notes on pages 9 to 11 form part of these financial statements
8
BATHDIS.4BILfTI IRLST
NOTES TO THE Ei%.I)CL4L ST.4TLIIDIS
FOR THE IL4R D41>ED 31 JL4RCH •1
l. Prin¢lpai a¢co•Afing polkles
(a) Ba5 of accountin
The financial swemenis hai"e beenprepared UDder the Illstotical cosi coni"efftion Rithitems reeogtJLsed at
cosi ff tr&]sathion i.ahje unless otherne stated in the relei.ant noies io these fitIat statemetsts. The
financial stateTnents hai"e beenpreparedin accordance Thith Statement of Recommended PTactice"..4ecounting
and Reporling bv chariti.es preparing theraccount5 in accordance 7th the Reportins Standard
apph'cable in the UK andRepubhc of Ireland IChants"es SOBP IFRSIO?) issued on 16 Jufv 201J).. and the
Fti]an¢Jal Reporting Stsnd2rd applicable tn the 2nd Republkc of beland (FRS102) and the ClJanties.4ct 2011
The Trust constitutes apubhc benefit entsty" a5 defjned by FRSIO2.
The trustees considez that there are DO matttial uncertainties about the Trusvs alxliti, to continue as a gott
concefftL The onl%" mateoalutxertamty is the leiel of ioi"estyet# Tettry dependent onthe perfonnance
of the ini"etsment m&k"eis.
(b) tni"estments
tn8"estment asseis are stated atthak.rf kabje in the finanaal statemen¢s.-4ni" gain orloss onTei"abwion
is tsk.en io the Statemetm of Faal.41}llles.
(c) tni"estment income
tni"estment irOrne is accountedforinthe period invlthithtbe cbtyi5 ethitledto receipt
(d)
enditrjre reco
ETperLth"ture 15 accountedforon an accfuals basi5: andinclude5 ifTecos"eRi4e 1".4T.
Cost of generaiinsfunds collyise those costs affnTrNJtable to mana88 the
ins"e5tmentporfoho andfaising inTr"eslment income.
Cffants payablt are clwgedio the year 'enthe offeris coni"eYed to the recipient except iDthose
cases Fbere the offer is con1kni0t suth grants recogtiised as e¥enth"tLre hen the
Csm¢thts"ons attachmg are fiffjlled Grnms offered sutj.ect to cOn¢thts.¢) *tu"¢h hai"e not been met
at the year end are noted a comllEthetsL but not a£¢nd as ezpendrture.
(e) Basi5 of allocation of e
Elpenses are apporn0ned'btre possible exacth. to the categor%'to Thtichthn'relate.
tn cirCuDoceS here tFtis is notpossknle the trustees apportion the amOUt Ill what they consider
to be fairproports.ons to each category.
ense5
•o:I
2020
Li5tedin%-e5tment5-managedfunds
Equity fimds
Fed Interest fimds
Properryfimds
•996?
3006
45S
36.816
4_058
615
41.519
Cost of generating
o•1
2020
Tni"estment management fees
(500)
250
## **BATH DISABILITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|4.|**Charitable activities - Grants payable**||||**2021**|2020|
|---|---|---|---|---|---|---|
||||||**£**|£|
||The amount payable in the year comprises||||||
||Payable to organisations: 3 grants|(2020 5 grants )||Charity No.|||
||Three Ways School|Equipment|||**-**|5,684|
||Woodworks Project|Facilities||1158320|**-**|5,000|
||Bath Area Play Project|Facilities||1013897|**9,810**|-|
||Bath Area Play Project|Equipment||1013897|**4,891**|-|
||Bath Community Transport|Minibus||25421R|**-**|25,000|
||SPA (Peggy Dodd) Bath|Kitchen refurbishment||1058294|**-**|15,000|
||Bridge Care|Bathroom refurbishment||299400|**-**|5,000|
||||||**14,701**|55,684|
||Payable to individuals: 5 grants (2020 7 grants)||||||
||To assist with mobility 1 (3)||||**600**|4,742|
||To fund the purchase of equipment 4 (4)||||**6,322**|2,407|
||Grant retruned||||**(494)**|-|
||||||**6,428**|7,149|
||Total||||**21,129**|62,833|
||**Commitments**||||||
|||||Expended|New||
|||||or released|commitments||
|||||in|made in the||
|||01/04/2020||the year|year|**31/03/2021**|
|||£||£|£|**£**|
||Organisations 1 grant|Facilities|-|-|30,000|**30,000**|
||Individuals 1 grant|Equipment|600|(600)|-|**-**|
||||600|(600)|30,000|**30,000**|
|5.|**Charitable activities - support costs**||||**2021**|2020|
||||||**£**|£|
||Meeting room hire||||**-**|110|
||Stationery||||**-**|48|
||Telephone and postage||||**10**|49|
||Accountancy||||**342**|342|
||Independent examination (note 6)||||**342**|342|
||Website and publicity||||**116**|116|
||Bank charges||||**72**|60|
||||||**882**|1,067|
||No trustee received any remuneration|in the year. No monetary donations were received from Trustees|||||
||Expenses re-imbursed to 1 (2) trustees|(included in the above figures)|||**10**|213|
No Trustees expenses were waived. There were no payments to key management personnel.
10
## **BATH DISABILITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|6.|**Charitable activities - continued**|**2021**|2020|
|---|---|---|---|
|||**£**|£|
||Payment to independent examiner for accounting services|**342**|342|
||Independent examiner's fee|**342**|342|
|7.|**Investments**|**2021**|2020|
|||**£**|£|
||Quoted investments|||
||Market value at 1 April 2020|**875,393**|1,078,326|
||Additions|**-**|-|
||Net unrealised investment gains(losses) for the year|**195,217**|(202,933)|
||Market value at 31 March 2021|**1,070,610**|875,393|
||Historical cost at 1 April 2020|**525,000**|525,000|
||Addition in year|**-**|-|
||Accumulated unrealised gains/(losses)|**545,610**|350,393|
||Market value at 31 March 2021|**1,070,610**|875,393|
||Investments are held in order to generate income in order to enable the charity to make||grants.|
||The investments are held in UK managed funds specifically designed for charities.|||
||Significant investments at market value are:|||
||Black Rock
Charishare (Inc)|**392,665**|315,337|
||M&G
Charifund (Inc)|**201,529**|163,624|
||Schroders
Charity Equity (Inc)|**285,683**|209,496|
||BNY Mellon
Newton Growth & Income (Inc)|**45,326**|37,413|
||Baring
Targeted Return (Inc)|**40,514**|38,121|
||Black Rock
Charinco (Inc)|**39,612**|40,543|
||Schroders
Charity Fixed Interest (Inc)|**45,450**|48,335|
||Other|**19,831**|22,524|
|||**1,070,610**|875,393|
|8.|**Creditors: Amounts falling due within**|**2021**|2020|
||one year|**£**|£|
||Accruals|**684**|1,427|
## 9. **Related parties**
D Hughesdon FCA is the Company Secretary (but not a Trustee) of S.P.A (Peggy Dodd) Bath, a charity. A donation of £15,000 (2021 - £nil) was made to S.P.A (Peggy Dodd) Bath (Regd No) 1058294 in the previous year. A commitment of £30,000 to make a donation to S.P.A. (Peggy Dodd) Bath exists at the year end.
11