Charity re$trati( Dutnbw.. 266049 The Bon Accord Trust for the Year End¢d 5 A] 2023
The BoD Accord Trust Contents {comthiued) Notes to the FiDaDcial StatellTh 7t0 12
The Bon A¢¢ord Trnst Reference And Admlnistrative De5 Trwsttts Mr DP Ensell Mr JM Buckl Mrm Halswad Ch*¥ity R¢2tytrAtIoD Nmbe 266049 Prindpal oifKe Mi]] House WestFaTm LE67 8FH Ind¢p¢ndeDt ExamlD R J GritSth8 3 Blathland C(thg¢s Swkw¢ll Plythouth PL7 5DE Pagc I
Tbe Bou Aeeord Trust Trustees, Report 2023. ObJeetlw etlvllleJ The tvmees confirm that tlxy have ¢orryblle4 wlth the ttfp1rem& of section 17 of the alt8 A 2011 to ha due Jyd the blIC befit guidanc¢ pub]ts]xd by the Chorlty iknon fwFJW aDd We9. this underTrvAew on an anTrU bA81& The elwity's a¢tivities expise ti to a ri5k8 i]dIng qeditrisl cwh flow rijk tyl liquidityTisk Thr u8e of financi d•iv8tiV¢$ AS Bovaned by the cTrAr¢ty's pliciey by the bOa of truste¥4 which provide Iwritten principles on the use of financi derivatives to Ti5k& The chgJity &J¢s DDI Th¢ iknity'$ a¢tivilies exFwe it WItlY to th¢ fIn¥nei ri&k& of havkn8 e4sy to fiuth in order to conth)uo fimdiDg cljaritsble acbviie& Th¢ chity looks to reduet thls rlsk by rethitsing gcKxl levels of eash and c&h e4uivi18rfs 17St also holding &oc&y and shaTE5 thlt 8r¢ easy to s¢ll if when requir¢d In order to maintsin liquidity to ersure tbat suffici¢D¢ fund5 ar¢ avthbl¢ fw 9SW•tiws firtw¢ developnienty the ¢h•ity u5¢5 aJDixtre of lon8.term and 5hort.tm invesimeAts FrtI delails ledIng liqlty mk f(rtTrttd iti the Ststement of fice4g policies ID the fimnciat and Sign on its behalf ty. Mrjm kler
The Bon Aeeord Tru Statement of TruJtees1 Re8POnglbilllles United Kingdom AcccAmiin8 Standorth IUDl¢¢d Kingdom Gm¢ro]ty Ac¢¢ptsJ AccouDtin% Prncttc¢} and wJi¢8bk law #nd re8ullltion$. The law appii¢abl¢ kn cjwrtyes requires the * to prryare &•tema)ts for each financial yeaT which ve 4 true and fair view of th¢ Jtats of affairs of tbe ¢haTity 8tLd of th¢ inoomiAg r¢sollrexs and applitstion of 5¢1¢ct suitable xcouuling policies aod tho appty them c18t¢tty. ob5ern the 8ttd principlc$ iti the Clwi¢i¢s SORP.. slate lther applicabl¢ a¢eouRting have been Collowtyl sllbject to aTy matKial depfftres disclosed ond explaltte4J in the finwial statements. and prepftre the fmanc?al ststanents on the going ¢on¢4TD Iwis unl¢ss it is inapprwte to presun that the chlty will rotitinue in IwiDess. liti the finaneitil position of the ¢harity aThl enabk th¢m to that tho fittancia] stJtements ccnpty with th¢ Charili¢$ Act 2011. th¢ Ch8ritie5 (Awits and R¢poTts) Regulations 2008. and the proTrision$ of the CODStitittion. The tru5es gr¢ a]so T¢$pottsiiTrl¢ for safrgudiDg th¢ &8sets of the and hence f(K taking TOnle 8t¢ps the p[tVein and ddKtioD of fraud aDd other in%dArIti¢i. The trustees ar¢ TespDnS1]¢ for the Maintenan and itite ofthe Cor[ and fillaDcial Information included on thp dlItable cMpan5 website. L?8islation gov¢minE the preparwn and di9aeminion of fit)wiAI statejnerfs may differ from leg51ation in other juri5di¢tiLm)S. AR d by the truse$ of the charity on..X !:1) and si& on Its behalf by: Ptrge 3
The Bon Accord TTUSt d¢ptndenl ExAmlneWI Report to the trustees of The Bon Aeeord Trust I r9 to thetswsltts my exami ofthc accovllts of The Bon ACCI* TYt for theyeK c1c4 S ApKll 21J23. ReJpoDslbllltlu ld off report acc4¥ with the Rqllire ofth¢ awitirs A¢1 2011 Iybe Ad'l l yewt in rwt of examin of the The BoD Accord awouDts rnTti¢d out uttder section 145 of th¢ 2011 Aet 8nd in earrying Out my exam1Th I bftve followYd au the appJicab]c Dw¢diow giY¢n by th¢ amity c4)MtiMon tstt¢kr sedion 145(5Xb) of tho A¢L 1. ac n¥(ff•lq wK¢ 1 kept in Teyp¢ctof TheBonA¢ewd Th9$ by section 130 ofthe Arf or 3. th¢ do not ton4)ly with the aceowiftg reqUIrenS con¢ernlDg the fornL and ¢ctent of accouDts set out in the chltieS (Accowits alld R¢pots) Re8ulaiw 2(W than any requiret)Mt that the accouDts sIKwld b¢ dT•Wn in this rwrtiD orderto enabk a proF¢r of the Kcowts to ber¢actr R J lffi11% 3 B]rkI#lld Coit•ges PL7 SDE P•Be 4
Th¢ Bon A¢eord Truit Statemtnt of Financlal Acthtfitle8 for the Year EDded 5 April 2023 Totsl Umre$trlcted Restrlthd Note ltstotht #nd EAdowm¢nts from: Donatirns legacies 20.(M)O 114,695 114.695 20,0 134,695 Expendiknre on: Charitable activities (1844 (161844 T1 Expendi¢w¢ Net {eXpeDd1tureCoMe G&tDsla05s¢s) on investtllt assets (161844 162 {48.149) 405231 20.0 (28.1491 405231) {453.380) (433J80) RrtoM¢l]latk)n tyf h•d8 Totsl fimds broygbt forward 4291.369 4291 13 3.837.989 3J57989 Tothl 2(121 UnreJtr6eted Nots Incom¢ •Hd Elldovnn¢Trts from: Investmciit inco 102,240 102,240 Expendithre on: charit1¢ activitrs 210433 Totsl Expenditure 210.433) 210.433 {108.193) 273.316 (108.1931 273 316 Gaiwl(losses) on investment aets 165.123 165.123 RecoBcllladoD of fvDds Totsl fijnds bmght forward Total fills carried knvard 6 4.126246 All of the charitys artiviti¢s d¢riYe from wntilluins opmtions the 8bovetwv TrO Thtnote$ ijn page$ 7 to 12 fonn an Inteal part of thtse f]Dm¢i staten)¢nts. Pag¢ 5
The Bon Aecord Trust BalxD¢¢ Sheet M at 5 Aprll 2023 21 Not¢ Cyrr¢Dt •Mets 15mO 3,758948 153.5 3927,540 15,rAKJ 4,240, 89.138 4J44.844 Investtn¢nts and in hand Credttors: AOlts fallkng due wlthl Totsl asts turrent lilblltles 3,92Q640 68.651 4,344244 CredltoTh: Amounts falllDg due Mft¢r th•u •n¢ y¢•r 12 Funds of th¢ ¢harhT. Reltrittod knt4Nne fuAdg UDrutrkted ltstowe f•nd• Unrestricted fimd$ 3.837,989 4291 J69 Totsl fvnds 13 91 The fJDBJJcial slatements orl Pllg 5 to 12 w¢rr aPPToved by th¢ tru61e¢$. ond 8uthori8ed for on .......-.......... Tr note5 onpllges 7 to 12 fonn Art integral of these fin¢111 statetll.
The Bon A¢¢ord Trust Notes lo the Fin8Deial Stat¢m¢nts for the Year Ended S April 2023 I A¢c00nllng 11¢1¢• Statsjnent of¢ompllanee The fjnancial ststernents have been wepard In accordatt with th¢ S)d edition of the Charities ststeM of Re(omm¢nd¢d Practice issued In O¢tober 2019, the Financial R]n£ Standard applicable iD the Unite41 KiDgd(Yn and R¢publi¢ of Jreland (FRS 102) the Charitie9 Act2011. BAib ofprepratiDll The Bon Accord Tnjst meets the definition of o public bMefit PtIry uth FRS 102. Th¢ xrmis {financiaI s¢etsts) have been prepared UDder the historical c05t convention wirb i1¢n Tecognised at cast ty Irans8ction Vah wiless othe1vrt s¢atyJ in the relevatst nots(s) to these accounts. Goln8eoneern The truste¢s ¢oLfjider that there Jntit¢rial urKutsinti¢S ab)ut the thjriws abllty w ¢orAiou¢ BOillB VoluDW iDciJme io¢ludi08 donatiotK8. gift4 legacies and that provid¢ we fimding or¥r¢ of n is r#ogais¢d wh¢n the ¢h8rity has entitkment to the inconK, 1¢ i& probable th the iome will be nc¢iv¢d and the amount ¢•) be m¢asured wth sufficient reliability. Donations and lewieB Are reww)ised on a r¢¢eAvable basis wben ree¢ipt is prcabk and th¢ amount caD be r¢Jiabty metswe& Divid¢n(b aye recognised once the div1thJ been dec]we41 and not1tion has been receiv of th¢ divAdeTrl Expendl¢¥r¢ AU eXditUre is rewgllised owe Oyre is a legal or ob1l8ati to that expendttwe. 1¢ is probable settlement j5 Tequired #ttd the aMoLll can be mea5UTgd reliably. All ¢o$ts are allocated ty the yilicable expenditure beadiD8 that agg¢gat¢ simitar costs to that ote80ry. Wht costs w)no¢ be directly attrIbUd to particu]tr he&lin&8 ¢hey h•ve been 8llocd ort a basis ¢lHWiSteth with the of Tegoiirco3. Charttable eXdIre compriscs thos¢ sts incurre41 by the Charty it) the delivery of its artlvlttes ar#J s¢rYi¢es for its b¢neficiaTies. li it)cludes both costs that ¢att E¢ allocated direclty to such a¢tiviti¢S and those ¢ost$ of aD indi nthr¢ nec¢55aryto supyon thellk P7
The BoD A¢cord Trnst Noteg to the FlnaDdal Stateents for the Year Ended S Aprtl 2023 (eollthiued) GMpn¥vtslo is wKertairty about eitherthe ]ng oftr orth¢ atnount of yantpwe. Tax Th¢ chlty is ¢onsldw¢d to p4s$ the lests $¢1 in P3ph J Sthvdule 6 of th? Financ¢ Ad 2010 ond th¢refore of the Corwion Tax Act 2010 or S¢ctioll 256 of the Taxation of Chryable A¢t 1992, to the extent that 9J¢h inell or 8allts ar¢ appli•1 ¢xclusiv¢ty to rlwitabl¢ pwpos¢s. CDrrwl InvestmeBts Ojrrent asset illves¢mcnlB ar¢ iDduded the lower of ¢08t 8ndnet realisable value I matket value. Cath •Ad ea9b tqulvakTrts C45b and ¢quivtilents coMlSe eesh OD hand and call deposits thud othw slw)rt-ttnn highty liquid irtv8slmts are Teadity conV¢rtl to a kttown amowll of c&¥h and are subjectlo all iDSi8lltfi(allt risk of ID wlu¢. Fund strn¢tsrÈ UnTestrided irteome fllllds ojr gernI fi that are #vaiJabl¢ for use at thè trtu¢ees dimtion ID fjmbergtwe of the objectives of the dwity. F5MDclal IMtrnm¢nts All finan¢id asxts aDd liabiliti#s are initi8lly meqsured at trpmadion pri (incEtybDg cthts). ¢xcw for db)5e finaD¢ial a5ts classified hir vaht¢ PTofit or Sos4 Wh pJ¢ mea$w 81 fw value (which is nornwlly the trsaLTr exch]ng tr8nsa¢tion costsk vjths tb¢ anent wn51itul¢s J fffjancll transactiL If an aemellt colte$ & finAncin8 tIW&¢I10 th¢ a¥ or fmancial iiobility is meawed atthe Fyuent value of the futsTrTe [wints disc at a n)aTkn rAte of Inttrest for a simi1grd¢lxiJUtnthi. FiTwicial assets and Ilabiiides are only offlet 5n the Staten of t]naD¢ia] [ltiOn wlw aud onty wkn there exists a l¢gally ¢nfor¢¢#ble right to set off th¢ r¢408tiised anwunts and the cknity iDt¢nd8 either to xttlE net basts. (ff lo rt41ig¢ the asE¢¢ a[ 5¢tt1e th¢ liability stuh¢OVSIy. Fin] assets are dvewis¢d th attd only a) the c1Ma¢al ri8hts to the tlow8 tIK finwcial expir¢ OT ar¢ s¢ttle4 b) the tharity tr8nsftts ther porty substsntiatly of the iisks and Y¢wards of ownar5bip of the finaTJcial a5L or ¢) the dJ8rity. despitr having T¢tsined som¢ Dot all. sigryifjwlt rtsks and rewatds of 0e[shiP. has tr•f¢ed witrol ofth¢ assetio anothu party. 1a1 lithltties are derWiS tyjly when the Obligats specified in contract is dithrrt canr¢lled or
Tb¢ Bon Aciyjrd Trnst Notes to the Flnandal Statements for the Year EDd¢d 5 Aprll 2023 (eontinued) Inve51m¢nts in ]•COnV¢rtbt le pref¢r¢nee shares nWble iTrrdn18ry or prBf¢rthte siwes (where 8harts publicly tradrd ortheir fair valu¢ is r¢li8bty Jneuurnbl¢) are me%sured at fair vhlue through profit or1088. whe fair The best ¢V1th of fair value is a quoted price for an Id¢nti(al lrt an active nwkd. Wh¢n quotrd Nices the pri¢¢ of a rexent transathion for aD identieal &8s¢t provid&% evide¢ of far valu¢ as long as there hES not been a significwt thartge ID econoJnic Circutnstsn or a sigThifj¢attt lapse of time iinct the knfKtion Ik place. If the market is nol a¢¢ive find Te¢eot trpDsadions of &tt 1deJ01 855¢t on thew own a good esliDut¢ of f8sr valu4 the fair value is estim4ted by 1n8 a valuation tethiique. 2 Incom* frnm doM8tlon$ amd Itgades TotAI DoDatiM$ co1ttIty 20.0(M) Tolal for 2023 20.CKK) 3 Investment IDrome UDrestrlrt¢d nds C¢n¢ral Totsl fud9 lttterest ¢¢lbIe on bank deposits income fro]n fixcd asset inYestm6nts 221 114474 221 114474 Totsl for 21n3 114,695 114.695 Totsl for 2022 102 102 240 a40 4 E¥peDdltur¢ on eharitsbk •ttfvltles
The Bon Accord TrD8t Notes to tbe Finan¢ial Stat¢JD¢nts for th¢ Year Ended 5 April 2023 (wntiDued) Uttmtritted r•Dd• G¢tternl 144279 1&565 144279 18J65 Totsl fw 2023 Tot*] for 2022 210.433 210.433 S Cbarlty donatknlls The charity dthmtsd £137349 Q022 £188J64) to the CTrffist•aelphi4n Car¢ HonL¢S (chgTity ]Jymb¢r 225874) which is ts sUPPQrt home Tlnts. t#)th Christsthlt&i8n ond n(fflthistsd¢lphiaD$ me•t the full ¢¥A of thelr No tsvst¢e5 hav¢1Ved gnyreimbws expeTh¢s or w other fran the dwrity duriD& the yw. 7 T•x•tlDn Thecknity is a regist¢red charity and is thurfor¢ exempt frojn thXatiorL 8 Debtors 2023 15.000 15.11(X) 9 Cwrrthl •tt inyegtments 2023 2V22 Li8t¢d othershares 3.758.948 Pa8¢ 10
The Bon Accord Trnst Notej to the Financial Stslements for the Y¢ar EDded S April 2023 (eonlinued) 10 Caih Dd esh ¢qMfvfil¢nts 2023 2022 Cash atb)nk 153 592 li Cr¢ditorK' hllhb8 due one year 21)23 2022 900 12 Credltors: fAIknR due •li¢r yar 2023 68 651 875 13 Fun at 6 Aprll 2022 R¢Joure eipeDded Aprjl 2023 Unrtstrlcted General 4291,369 114,695 {568,Q75) 3,837.989 Rtttrfrted Totsl 568.075 3 857 989 Other reroenlsed B4lnee al S InslOosse8) April 2022 Balantr at 6 Aprll 21J21 Resour¢es peNd¢d UDf¢strleted 4 126 246 102240 85981 4291.369 14 A*1 of ttet asKts behyeen luDd•
The Bon Aeeonl Trnst NotH to th¢ FiDaneial Stt¢m¢nts for the Year Ended 5 April 2023 (eontlnutd) Utsrntrkted Totsl fwidl #t 5 Aprll 2023 3,907.540 20.(KKI 3.927.540 Curreni Ilabllltles (68.651) (6B.651 3 857.989 Tirtal net 8S8cts 3.837.989 20.0 Unr¢5trlthd hnd5 GeDerl Totsl fund5 •¢ S April 2022 4J44.844 4,344.844 (6(} {6) 51875) (52,87 4291W 369 Cwr¢Dt liabilitse$ Totsl net assets Page 12
The Bon Aeeord Trust Stal¢ment of Fin4neial Adivities by fund for the Year EDd¢d 5 April 2023 Total Tot*1 Unregtrkted UDrestrn Fund$ Funds 2023 2022 Incom¢ EDdoivrneDts IrorA: 114. 102,240 Totsl iD¢ome 114.695 102.240 ExpendKture OIL Charitable activities {162.844 162W) 1210,433) 210,433) TLtsI VAp¢nditswe Net exIditle (48,149} {405.231 (108,193) 273.316 Net movertheni in (453J80) 165.123 Re¢oDcili•tion of hnd• Totsl futtds brDu8ht fonvord 4291 J69 4,126246 4,291.369 Thi5 page does ty forn part of thc • fm£tsci&l statements. Page 13
Th¢ Bon Ac¢ord Trust ststement of FIDand&l A¢tfvlties by thnd for the Year Ended S Aprll 2023 (continued) Total To Full* 2023 2022 Itheomt #nd Endowments from: DonatioD5 a1 legficies Totst Income Exp•ndlturn on: N¢t RetoDd]iatloll of fllDds Totsl ftsnds wried fonvord Page 14
The BoD Accord Tru81 Detsiled Ststement of FInanCi Adlvltks for th¢ Year Ended S April 2023 Totsl 2023 Tol*l 21Tr22 ID¢om¢ and Endovrnieots from: Donations and legkeies (8naly8eJ below) Jnvesttn¢ 1Come (wlys¢d below) 20.0 114.695 102,240 102240 ExpendlluTr on: Ch#ritabl¢ I1tieS (anIty1 below) Tot•1 ¢xpenditt Net ¢xpenditu Gross trat]5frfs between foDds (gnatysed below) Net movement in fimds 162,844 128.149) 405 {108.193) 273 J16 {433J80} 165,123 R•toneUI811o of fullth Totsi fwids brought foTW8 T4)tsl fundj WTied forwwd 4291369 46 3 857 989 This page th)e5 not part of the 81atsitory fJnanrj SLai¢th. Pa8e 15
Th¢ BoD A¢¢oTd Trust D¢tsll¢d Stt¢JneDt of FiDan¢ial Adivitiu for the Year Endtd 5 April 21J23 (¢ontinu¢d) T•)t•l 2022 Jncom¢ from other uuli5ted invesfmeths 20.iXX) 20.000 Inc4)me frm listed invegtttwits 114,474 221 102233 102 114.695 40 0¢7hhl Grants payable. iDststutithJs Lx8al artd professional f$ (14M279) 1210.133) 3(Kl Revaluatw)n of shaTe5 ga0068) Fd$. Transfer ofunlealised rluatIOn profrts (405,231) 296.414 3.098 {4Q5231 273.310 This page not form pgrtof the ytstrjtcry finallciBI stat¢nMts. Pw16