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2022-12-31-accounts

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Charity no: 249759

Chartered Accountants

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

CONTENTS

Page
Legal and Administrative information 1
Trustees' Report 2
Independent Examiners' Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Accounts 6 - 8

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity name Edmund Barnes Charity for the Organ and Choir Fund of Wimborne Minster
Charity registration number 249759
Principal office Wimborne Minster Church House
22 High Street
Wimborne
Dorset
BH21 1HT
Trustees Francis William Howard-Vine
Rosalind Pamela Brown Jensen
Anthony Keith Oliver
Felicity Sarah Warwick
John Roland Raymond
Muriel Mary Jacobs
David Robert Steele
Rev Canon Andrew John William Rowland
Dr Michael Robin De Clifford Sadler
Malcolm Andrew Chisholm
Katharine Anne Pollard
Andrew Neilson Curtis
Independent Examiner Mrs S J Hough FCA
Edwards and Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
Principal bankers CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their report and the accounts of the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and accounts of the charity.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s terms of Trust as set out in the Will of Edmund Barnes, 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 in October 2019.

Objectives and activities for the public benefit

The charitable objects are the organ and choir fund of Wimborne Minster. The Will of Edmund Barnes requires the funds received to be held on trust forever, with income and interest expended on the organ and choir.

The Trustees confirm they have given careful consideration to the Charity Commission's general guidance on public benefit.

Achievements, performance and financial review

The Trustees make grants to Wimborne Minster Parochial Church Council ('PCC') towards the cost and expenses of the organ, organist and choir of Wimborne Minster. It is intended that the total of the grants in each year will roughly equate to the available income of the Trust. Of the current Trust income at least this amount is spent by the PCC on these expenses.

The other income commitment is to the Organ Repairs Fund. This fund is to meet the cost of the major overhaul of the organ, which is required (on average) every 10 years.

The Stainer and Wendy Edwards Fund have been included in the accounts of this charity as together these funds cover “Music @ The Minster”. Miss Stainer left a legacy in her will and the Trustees received a gift in memory of Wendy Edwards - both to be used for the benefit of the choir. Currently, the income is applied for choir training.

Structure, governance and management

The charity was established by the will of Edmund Barnes proved on 8th April 1927.

The management of the charity and its assets is vested in the Trustees.

Financial review

During the year the Trustees received investment income totalling £29,017 (2021 £26,453) and paid out £13,200 to the PCC for organ expenses (2021 £16,500) and £1,500 for choir gratuities (2021 £1,440). Also, £25,000 was paid to the PCC from the Designated Organ Repairs Fund to contribute to organ refurbishment (2021 £100,000).

At the end of the financial year total reserves amounted to £724,655.

Approved by the Trustees on …....................... and signed on their behalf by Francis Howard-Vine

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES

ON THE UNAUDITED ACCOUNTS OF EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUNDS OF WIMBORNE MI

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 4 to 8.

Responsibilities and basis of report

As the charity's Trustees 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 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 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:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mrs S J Hough FCA

Edwards and Keeping Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Dste…......................

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Funds
2022
Note
£
Income
Investment income and interest
28,108
Total income
28,108
Expenditure
13,200
25,000
Choir gratuities
1,500
Other costs
48
Total expenditure
39,748
(11,640)
3
-
3
(8,667)
(8,667)
(20,307)
Reconciliation of funds:
Funds brought forward
70,112
Funds carried forward
4
49,805
Realised gains on disposal
of investments
Unrealised (losses)/gains on
revaluation of investments
Gains/(losses) on
investments
Net (losses)/gains on
investments
Net (expenditure)/income
for the year
Net (expenditure)/income
before gains/(losses) on
investments
Wimborne Minster PCC for
organ and choir expenses
Wimborne Minster PCC for
organ refurbishment		 Restricted Total funds Unrestricted
Permanent
Endowment
Funds
Funds
2022
2022
2021
£
£
£
909
29,017
25,624
909
29,017
25,624
-
13,200
16,500
-
25,000
100,000
-
1,500
1,440
-
48
-
-
39,748
117,940
909
(10,731)
(92,316)
-
-
-
(46,327)
(54,994)
11,117
(46,327)
(54,994)
11,117
(45,418)
(65,725)
(81,199)
720,268
790,380
151,311
674,850
724,655
70,112		 Restricted Total funds
Funds
2021
2021
£
£
829
26,453
829
26,453
-
16,500
-
100,000
-
1,440
-
-
-
117,940
829
(91,487)
-
-
59,421
70,538
59,421
70,538
60,250
(20,949)
660,018
811,329
720,268
790,380		 Restricted Total funds
Funds
2021
2021
£
£
829
26,453
829
26,453
-
16,500
-
100,000
-
1,440
-
-
-
117,940
829
(91,487)
-
-
59,421
70,538
59,421
70,538
60,250
(20,949)
660,018
811,329
720,268
790,380
26,453
16,500
100,000
1,440
-
117,940
(91,487)
-
70,538
70,538
(20,949)
811,329
790,380

.

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

BALANCE SHEET AS AT 31 DECEMBER 2022

Unrestricted
Funds
2022
Note
£
Fixed assets
Investments
3
60,536
60,536
Current assets
Cash at bank and in hand
-
Liabilities
Creditors: amounts falling due
within one year
4
(10,731)
Net current assets
(10,731)
Net assets
49,805
Funds
5
General Unrestricted Funds
32,387
Designated Unrestricted Funds
17,418
-
-
49,805
Restricted Funds - Stainer and Edwards
Legacy funds - Permanent Endowment
Restricted Funds - Other Permanent
Endowment		 Restricted
Permanent
Endowment
Funds
2022
£
674,850
674,850
-
-
-
674,850
-
-
28,307
646,543
674,850		 Total funds
2022
£
735,386
735,386
-
(10,731)
(10,731)
724,655
32,387
17,418
28,307
646,543
724,655		 Total funds
2021
£
790,380
790,380
-
-
-
790,380
23,600
46,512
29,121
691,147
790,380

Approved by the Trustees on …........................ and signed on their behalf by Francis Howard-Vine.

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(a) Basis of preparation

Edmund Barnes Charity for the Organ and Choir Fund of Wimborne Minster was created by the Will of Edmund Barnes and registered as a charity in England and Wales. The address of the principal office is given in the charity information on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The accounts 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 applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The accounts are prepared on a going concern basis under the historical cost convention. The accounts are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these accounts are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

(c) Expenditure

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. Irrecoverable VAT is included in the costs of those items to which it relates.

(d) Fixed asset investments

Listed investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘gains/(losses) on investments’ in the statement of financial activities.

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.

(e) Funds

Unrestricted funds represent funds which are expendable at the discretion of the Trustees in furtherance of the objects of the charity. Designated funds comprise unrestricted funds that have been set aside at the discretion of the Trustees for specific purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor. Permanent endowment funds represent capital which the Trustees must invest and use the income for charitable purposes. The capital funds cannot be converted into income.

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

2 Trustees' remuneration and expenses and related party transactions.

No remuneration or expenses were paid out of the funds of the charity in the year to any Trustee or any person known to be connected with a Trustee.

There were no related party transactions in either year.

3
Investments
Market value at 1 January 2022
Acquisitions at cost
Disposal proceeds
Realised gains on disposals
Unrealised (losses)/gains on revaluation
Market value at 31 December 2022
Cash held by investment managers
UK listed investments are represented by:-
Equities and funds
4
Creditors
Short term loan
All investments are carried at their fair value.
UK listed investments		 2022
£
790,380
-
-
-
790,380
(54,994)
735,386
-
735,386
735,386
735,386
2022
£
10,731		 2021
£
719,842
-
-
-
719,842
70,538
790,380
-
790,380
790,380
790,380
2021
£
-

EDMUND BARNES CHARITY FOR THE ORGAN AND CHOIR FUND OF WIMBORNE MINSTER NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

5 Funds
01/01/2022
£
Unrestricted Funds
Organ Repairs fund (Designated)
46,512
General funds
23,600
70,112
Restricted Funds (all Permanent Endowment)
Stainer and Edwards Legacy funds -
Permanent Endowment
29,121
Other Permanent Endowment funds
691,147
720,268
TOTAL FUNDS
790,380
Funds 2021
01/01/2021
Restated
£
Unrestricted Funds
Organ Repairs fund (Designated)
131,226
General funds
20,085
151,311
Restricted Funds (all Permanent Endowment)
Stainer and Edwards Legacy funds -
Permanent Endowment
26,082
Other Permanent Endowment funds
633,936
660,018
TOTAL FUNDS
811,329		 Income
Expenditure
£
£
4,573
(25,000)
23,535
(14,748)
28,108
(39,748)
909
-
-
-
909
-
29,017
(39,748)
Income
Expenditure
£
£
4,169
(100,000)
21,455
(17,940)
25,624
(117,940)
829
-
-
-
829
-
26,453
(117,940)		 Gains/
(Losses)
£
(8,667)
-
(8,667)
(1,723)
(44,604)
(46,327)
(54,994)
Gains/
(Losses)
£
11,117
-
11,117
2,210
57,211
59,421
70,538		 31/12/2022
£
17,418
32,387
49,805
28,307
646,543
674,850
724,655
31/12/2021
£
46,512
23,600
70,112
29,121
691,147
720,268
790,380