Charity r¢gistt3tion llumber. 266049 The Bon Accord Trust Annual Report and Financial Staternents for the Year Ended 5 April 2024
The Bon Accord Trnst R¢ference and Administrative Details Trusteei Mr DP En5ell Mr JM Bu¢kler Mr M Halstead Mrs R M Deethian Ch4rlty Registrntion Number 266049 PTin¢ipal Offir¢ Mill House West Far Coleorton Ikicestershire LE67 8FH Indepettdellt R J Griffiths 3 Blackland Cottages Sparkivell Plsrynouth PL7 5DE Page I
The Bon Accord Trust Statement of Trustees, Reyponslbllllles The Iwslees are responsible for preparing the tnjslees, rerK)rt and the fmancial statements in aecordance with the United Kingdom A¢counttng Standards (United Kingdom Generally Accepted Accounting Pra¢ti¢¢) and applicable law and reguEatiODS. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a tNe and fair view of the state of affairs of the charity and of the incoming r¢sources and application of resources of the charity for that period. In preparing these financial statements, the tnte¢S are quIred to.. sel¢ct suitsble accoiinting policies and th¢n apply them consistently; observe the methods and principles the Charities SORP: make judgements and estimates that are reasonable and pNdent' state whether applicable accounting standards have bcen followed, yjbject to any DWtwi&l departtwes disclosed and explained in the fman¢ial statements: and prepare the fthancial statemeths on th¢ going concern blS ullles5 It is inappTopfi4te to presume the chlty will continue in business. The tnLSttts are responsible for keeping proper accouniing Tecords that disclose with reasonable accuracy at any time the financial position of the ¢harity And enable them to ensure that the ficIal statements comply with the Charities Act 2011, the Charities (A¢rounts and Reports) Regulations 2008, and the provisions of the constitution. The tnLStees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and oth¢r irregularities. Th¢ trustees are responsible for the rnaintenance and integrity of th¢ ¢QTporate and financial information included on the ¢haritable company's website. Lcgislation governing the preparalion and dissemination of fjnancial 5tat¢]nents may differ from legislation in other jurisdictions. Approyed by the trustees of the chariry on. . and signed on its behalf by: MrJ Trus uckler Page 3
The Bon Aecord Trust Statement of Financial Activities for the Year Ended S April 2024 Totsl 2024 Unr¢stri¢ttd Reslricled Note Jneon)e and Endowments from: Investment ineome 115.988 115,988 Expenditure on: Charitsbl¢ a¢tivities (200,300) (2(H).300) Total Exp¢nditUTe 2QO,300) (21K).3(K)) Net expenditure Gainsl{losses) on inv¢stm¢nt assets (84,312) 100,953 (84,312) 100.953 Net movement in funds 16,641 16.641 Reconciliation orrund$ Total fjjnds brought fonvard 3,837,989 20.(KM) 3,857,989 Total funds carried forward 13 3,854.630 20.(MX> 3,874,630 Total 2023 Unr¢slricted Restricted Nots Income aDd Endowm¢nl$ from: Donatiortg and legaci¢s Invc8tment income 20.(K)O 20,000 114,695 114.695 Total Income 114,695 20,(MM) 134.695 Exptndlture on". Charitable activitie5 {162.844) {162,844) Totsl Exp¢nditi]r¢ {162,844) {162,844) Net (expenditllreyincome Gainsl(1055es) on investment assets (48,149) {405.231) 20,000 {28,149) (405.231) Net movement in funds (453.380) 20,OIM) (433,380) Reconciliation orrullds Total ndS brought fo]ward 4291,369 4,291,369 Totsl funds carried fonvard 13 3,837.989 20,0(M) 3.857.989 All of the charity's activities derive from continuing operations during the abovc two p¢riods. The notes on pages 7 to 12 fornj an ill¢eal part of thes¢ fjnancial statements. Page 5
The Bon Accord TTht Notes to the Financial Statements for the Year Ended 5 April 2024 l Aceounting policies statement of compliance The fanCIal statements have been prepared in accordance with th¢ second edition of the Charities StatetD¢nt of Re¢(Trtntnended Practice issued in Cktob¢r 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102} and the Charities Act 2011. Basis of preparation The Bon Accord Trust meets the definition of a public F*nefit entity under FRS 102. The accounts (financial statements) have been prepaTed under the historical cost convention with it¢Ths reLognised at cost or transaction value unless otherwise stated in the relcvant note(s} to these accounts. Going concern The trustees consider that there are no material uncertainties about the chariW5 ability to witinue as a going oneem. loeome and endowments Voluntary income including donations, uijfts. legacies and grants that provide core funding or are of a general nature 1$ recolSed when the ¢harity has entitlement to ihe Income, it is probable that the incom¢ will be received and the amount can be measured with sufficient reliability. Donailons tzndlegoci Donations and l¢ga¢i¢s are r¢cognised on a receivable b&8is receipt 15 PTobabl¢ and ihe amouDÉ can be reliably measured. InvthenÉlncome Dividendg are recogllised once the dividend has been declared and notification hay been re1ved of the dividend Expenditure All expenditure is recOlsed once ther¢ is a l¢gal or constructive obligation to that expenditure, il is probabl¢ settlement is required and the arnount can measured reliably. All c05t5 aTe allocated to the applicable ¢xpenditure heading that aggregate similar costs to that ¢ategory. Where costs cannot be directly attribuied to particular h¢adings they have been alloc21ed on a basis consistent with the use of resources. ChorllablÉ lIVI Charitable expenditure ¢orDprise5 those costs incurred by the charity in the delivery of ils activilies and setvices for its beneficiaries. It includ¢5 both costs that can be allocated directly to such activitics and th09¢ ¢osts of an indirect nature necessary to support them. Page 7
The Bon Accord Trust Notes to the Financfial Statements for the Year Ended S April 2024 (continued) Inveslments Investments in non-convertibl¢ preference sha5 and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurabl¢) me&8LLred at fair valu¢ through profit or loss. Wh¢re fair value cannot be measured reliably, investments are mea5ur¢d at cost le&8 impairment. Fair vdlue nwosuremenl The best evidence of fair valu¢ is a quoted price for an identical asset in an active matht. When quoted prices are UDavailable, Éhe price of a recent transaction for an identical asset provides evidence of fair value as long 05 there has not bcen 2 significant change in ¢wnomic circumstances or a sigrnificant lapse of time sin¢¢ the transaction took place. If the market is not active and rEccnt trdnsactions of an identical &sset on their own are not a good estimate of fair value, the fair value is estimated by uSig a valuation tecl]niqu¢. 2 Income from donations and kgo¢i¢s Restricted runds Total funds Total for 2024 Totsl for 2023 20,000 20,0(K) 3 Investment income Unrestrieted runds Genernl Totsl fund5 Inlerest receivable and similar income; Interest receivable on bank deposlts Other income from fixed asset investments 637 115,351 637 115,351 Totsl for 2024 115.988 115,988 Totsl for 2023 114,695 I l4.695 4 Expenditure on charitsblt actlvlties Page 9
The Bon Accord Trnst Notes to the Financial Statements for the Yvar Ended S April 2024 (continued) 10 C8sh and cash equivalents 2024 2023 Cash at bank 60.194 153,592 11 Creditors: amoullts f4lliTrg due wi¢hin one year 2024 2023 Cxher creditors 600 91N) 12 Creditors: arnounts falling due after One year 2024 2023 Other creditor5 68,651 13 Funds Bal#n¢e at 6 April 2023 Ineoming resources Resources txpended Balance at S April 2024 Unr¢strleted General 3,837.989 115,988 {99,347) 3,854,630 Restrieted 20.000 20,000 Total funds 3,857,989 115,988 (99.347) 3,874,630 Balanec at 6 April 2022 IDcomiDg rurCeS Resources expended BalaR¢¢ 4t S April 2023 Urtrestricted General 4,291,369 114,695 (568.075) 3,837.989 Restricted 20,000) (20,000) Total funds 4,291,369 (134,695 568,075 (3,857,989 Page 11
The Bon Accord Trust Statement of Finaneial Aetivities by fund for the Year Ended 5 April 2024 Total Totsl Unrestricted Unrestricted Funds Funds 2024 2023 Ineome and Endowments from: Inv¢$ttnent iJKome 115,988 114,695 Total incorne 115.988 114.695 Expenditure on: Charitablc a¢iiviues (200,300) (162,844) Total expenditu (200,300) (162,844) Net expendittwe Gro$s transfers btheen fund$ 184.3121 100,953 (48,149) (405,231 Net mov¢ment in fijnds 16,641 (453.380) R¢¢onelllAtlon or runds Total funds brought fonyard Total fidS CTi¢d forward 3,837.989 4291.369 3,854,630 3 837 989 This page does not f(1 part of the statutory fancial statements. Page 13
The BoD Accord Trust Detailed Statement of Financial Activities for tbe Year Ended 5 April 2024 Totsl 2024 Total 2023 Income and Endowmtnts from: DoDatrons and legacies (analysed below) Investment incom¢ (at)alysed below) 20.0(M) 114,695 115,988 Total income 115,988 134,695 Expenditure on: Charitable activities (analysed below) (200,3 (162,844) TotaL expenditur¢ (200.300 (162,844) Net expenditure Gross transfers behveen funds (artySed below) (84,312) l(K),953 (28,149) 405,231 Net movement in fimd5 16.641 (433,380) Retoneililltion of fund$ Total fimds brought forward 3,857,989 4.291.369 Totsl funds carried fonvard 3.874.630 3.857,989 This page does not form part of th¢ statutory financial statements. Page IS