2020-08-31-accounts - Barbara Bus Fund

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REGISTERED CHARITY NUMBER: 257507

Report of the Trustees and Financial Statements

for the Year Ended 31 August 2020

for

Barbara Bus Fund

Parker Cavendish Chartered Accountants

28 Church Road Stanmore Middlesex HA7 4XR

Barbara Bus Fund

Contents of the Financial Statements for the Year Ended 31 August 2020

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	11
Detailed Statement of Financial Activities	12	to	13

Barbara Bus Fund

Report of the Trustees for the Year Ended 31 August 2020

The trustees present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity as stated by the Trust Deed are to provide a small fleet of specially adapted vehicles for the use of disabled persons and their carers to undertake journeys for pleasure or necessity which might not be otherwise possible. It also assists other Charitable Organisations with similar objects.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year the charity has been able to continue its stated objective of providing transport for the use of disabled persons. The trustees consider that the performance of the charity this year has been most satisfactory and hope to extend their services over the next financial year.

FINANCIAL REVIEW

Financial position

The statement of financial activities shows total income of £53,459 and total expenditure of £187,041. Investment gains amounted to £18,153 and the portfolio management fees were £13,711.

Principal funding sources

Income included donations and grants of £35,279 and investment income of £18,180. A small amount of rent continues to be received on land held by the Charity.

Investment policy and objectives

The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity. In the previous year, £1,000,000 was placed with Rathbone Investment Management to be invested in a variety of Funds and Bonds.At the year end the value of the investment amounted to £1,045,038.

Reserves policy

The trustees carry out an annual review of the charity's reserves policy in the light of known risks and future plans to try and maximise the funds it can generate itself from reserves.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The fund was set up in 1968 in accordance with a deed dated 31/10/1968, amended by further deeds dated 25/01/1995 and 01/02/2006.

Recruitment and appointment of new trustees

The trustees named below have served throughout the year or as from date of appointment or up to date of resignation. Appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.

Organisational structure

The charity is organised so that the trustees meet regularly to manage its affairs. There are three part time administrators who manage the day to day administration and charitable activities. A number of unpaid volunteers also assist in the charitable activities of the charity.

Induction and training of new trustees

The chair of trustees is responsible for the induction of any new trustee which involves awareness of trustee's responsibilities, the governing document, administrative procedures, the history and approach of the charity.

Barbara Bus Fund

Report of the Trustees for the Year Ended 31 August 2020

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

257507

Principal address

The Barbara Bus Fund Louis Fleishmann Building, RNOH Brockley Hill Stanmore Middlesex HA7 4LP

Trustees

R P Holland Mrs C M Bunting R White Mrs V S Wall M Pearce Mrs S White Ms L Liebenberg

Independent Examiner

Parker Cavendish Chartered Accountants 28 Church Road Stanmore Middlesex HA7 4XR

Bankers

Barclays Bank 126 Station Road Edgware Middlesex HA8 7RX

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. R P Holland - Trustee

Independent Examiner's Report to the Trustees of Barbara Bus Fund

Independent examiner's report to the trustees of Barbara Bus Fund

I report to the charity trustees on my examination of the accounts of Barbara Bus Fund (the Trust) for the year ended 31 August 2020.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the 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 an independent examination.

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.

Raymond Rubenstein Parker Cavendish Chartered Accountants 28 Church Road Stanmore Middlesex HA7 4XR

Date: .............................................

Barbara Bus Fund

Statement of Financial Activities for the Year Ended 31 August 2020

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 17,517 Investment income 2 18,180 Total 35,697 EXPENDITURE ON Raising funds 3 13,711 Charitable activities Provision of transport for disabled persons 160,713 Governance costs 4,618 Total 179,042 Net gains on investments 18,153 NET INCOME/(EXPENDITURE) (125,192 ) RECONCILIATION OF FUNDS Total funds brought forward 1,565,618 TOTAL FUNDS CARRIED FORWARD 1,440,426	Restricted fund £ 17,762 - 17,762 - 7,999 - 7,999 - 9,763 7,610 17,373	2020 Total funds £ 35,279 18,180 53,459 13,711 168,712 4,618 187,041 18,153 (115,429 ) 1,573,228 1,457,799	2019 Total funds £ 37,983 13,610 51,593 18,173 176,304 5,380 199,857 27,445 (120,819) 1,694,047 1,573,228

The notes form part of these financial statements

Barbara Bus Fund

Balance Sheet 31 August 2020

Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 129,767 Investments 8 1,045,038 1,174,805 CURRENT ASSETS Debtors 9 9,691 Cash at bank and in hand 266,197 275,888 CREDITORS Amounts falling due within one year 10 (10,267) NET CURRENT ASSETS 265,621 TOTAL ASSETS LESS CURRENT LIABILITIES 1,440,426 NET ASSETS 1,440,426 FUNDS 11 Unrestricted funds: General fund Restricted funds: Wales fund TOTAL FUNDS	Restricted fund £ - - - - 17,373 17,373 - 17,373 17,373 17,373	2020 Total funds £ 129,767 1,045,038 1,174,805 9,691 283,570 293,261 (10,267) 282,994 1,457,799 1,457,799 1,440,426 17,373 1,457,799	2019 Total funds £ 126,257 1,025,710 1,151,967 52,980 380,805 433,785 (12,524) 421,261 1,573,228 1,573,228 1,565,618 7,610 1,573,228

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

R P Holland - Trustee

The notes form part of these financial statements

Barbara Bus Fund

Notes to the Financial Statements for the Year Ended 31 August 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

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

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles - 25% on cost

No depreciation is charged on the charity's garage.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investments

Fixed asset investments are stated at market value at the balance sheet date. Realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Activities.

continued...

Barbara Bus Fund

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

2. INVESTMENT INCOME

3.

Rents received Dividends received Deposit account interest RAISING FUNDS Investment management costs Portfolio management	2020 £ 1,760 15,063 1,357 18,180 2020 £ 13,711	2019 £ 1,760 11,010 840
		13,610
		2019 £ 18,173

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

Administrative & support No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 22,492 Investment income 13,610 Total 36,102 EXPENDITURE ON Raising funds 18,173 Charitable activities Provision of transport for disabled persons 160,658 Governance costs 5,380 Total 184,211		2020 3 Restricted fund £ 15,491 - 15,491 - 15,646 - 15,646		2019 3 Total funds £ 37,983 13,610
				51,593 18,173 176,304 5,380
				199,857

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Barbara Bus Fund

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ Net gains on investments 27,445 - NET INCOME/(EXPENDITURE) (120,664) (155) Transfers between funds (4,674) 4,674 Net movement in funds (125,338) 4,519 RECONCILIATION OF FUNDS Total funds brought forward 1,690,956 3,091 TOTAL FUNDS CARRIED FORWARD 1,565,618 7,610 7. TANGIBLE FIXED ASSETS Garage at Motor cost vehicles £ £ COST At 1 September 2019 466 502,426 Additions - 90,895 Disposals - (156,498 ) At 31 August 2020 466 436,823 DEPRECIATION At 1 September 2019 - 376,635 Charge for year - 87,385 Eliminated on disposal - (156,498 ) At 31 August 2020 - 307,522 NET BOOK VALUE At 31 August 2020 466 129,301 At 31 August 2019 466 125,791		Total funds £ 27,445 (120,819) - (120,819) 1,694,047 1,573,228 Totals £ 502,892 90,895 (156,498 ) 437,289 376,635 87,385 (156,498 ) 307,522 129,767 126,257

continued...

Barbara Bus Fund

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

8. FIXED ASSET INVESTMENTS Listed investments £ MARKET VALUE At 1 September 2019 976,191 Additions 363,485 Disposals (374,017 ) Revaluations 18,153 Net movement - At 31 August 2020 983,812 NET BOOK VALUE At 31 August 2020 983,812 At 31 August 2019 976,191 The investments are managed by Rathbone Investment Management. 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Other creditors 11. MOVEMENT IN FUNDS At 1.9.19 £ Unrestricted funds General fund 1,565,618 Restricted funds Wales fund 7,610 TOTAL FUNDS 1,573,228

continued...

Barbara Bus Fund

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	35,697	(179,042 )	18,153	(125,192 )
Restricted funds
Wales fund	17,762	(7,999)	-	9,763
TOTAL FUNDS	53,459	(187,041 )	18,153	(115,429 )
Comparatives for movement in funds
		Net	Transfers
		movement	between	At
	At 1.9.18	in funds	funds	31.8.19
	£	£	£	£
Unrestricted funds
General fund	1,690,956	(120,664)	(4,674)	1,565,618
Restricted funds
Wales fund	3,091	(155)	4,674	7,610
TOTAL FUNDS	1,694,047	(120,819)	-	1,573,228
Comparative net movement in funds, included in the above		are as follows:
	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	36,102	(184,211)	27,445	(120,664)
Restricted funds
Wales fund	15,491	(15,646)	-	(155)
TOTAL FUNDS	51,593	(199,857)	27,445	(120,819)

continued...

Barbara Bus Fund

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Wales fund TOTAL FUNDS	At 1.9.18 £ 1,690,956 3,091 1,694,047	Net movement in funds £ (245,856) 9,608 (236,248)	Transfers between funds £ (4,674) 4,674 -	At 31.8.20 £ 1,440,426 17,373
				1,457,799

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Wales fund TOTAL FUNDS	Incoming resources £ 71,799 33,253 105,052	Resources expended £ (363,253) (23,645) (386,898)	Gains and Movement losses in funds £ £ 45,598 (245,856) - 9,608 45,598 (236,248)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2020.

Barbara Bus Fund

Detailed Statement of Financial Activities for the Year Ended 31 August 2020

INCOME AND ENDOWMENTS Donations and legacies Donations Grants Investment income Rents received Dividends received Deposit account interest Total incoming resources EXPENDITURE Investment management costs Portfolio management Charitable activities Wages & salaries Pensions Rent payable Insurance Telephone & internet Printing, postage and stationery Maintenance of motor vehicles Travelling & motor expenses Publicity & advertising costs Cleaning Computer expenses Payroll administration Legal & professional fees Bank charges Sundry expenses Profit on sale of vehicles Motor vehicle depreciation Donations Support costs Governance costs Accountancy fees Total resources expended Net expenditure before gains and losses	2020 £ 20,983 14,296 35,279 1,760 15,063 1,357 18,180 53,459 13,711 45,307 807 1,661 28,198 2,425 2,840 15,596 2,286 1,046 1,545 548 605 186 63 1,559 (23,345) 87,385 - 168,712 4,618 187,041 (133,582 )	2019 £ 29,033 8,950 37,983 1,760 11,010 840 13,610 51,593 18,173 47,421 864 1,641 25,880 2,348 3,487 18,432 3,732 1,527 1,469 2,393 583 90 481 1,155 - 64,661 140 176,304 5,380 199,857 (148,264)

This page does not form part of the statutory financial statements

Barbara Bus Fund

Detailed Statement of Financial Activities for the Year Ended 31 August 2020 Realised recognised gains and losses Gains/(losses) on fixed asset investments Net expenditure	2020 £ 18,153 (115,429 )	2019 £ 27,445 (120,819)

This page does not form part of the statutory financial statements

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Signed by Richard Holland using authentication code WXUhUFQ8U0poSG1v at IP address 77.81.139.164, on 2021/06/06 09:17:57 Z.

Richard Holland's e-mail address is: me@rholland.co.uk.