2023-12-31-accounts

Trust r ended 31 Decemkn 2023 The In￿ present thelr r8POrt and th8 financial statements for the year ￿KIed 31 Decembef 2023. The financial statements have been wepared in aC(Yjrdan￿ the act￿nting polirAes set out in notes to the accounts and (x)mply v￿th the (knritys goveming document. the Charities Act 2011 and Accounting and Reporting by Charfties: Statement of Recorn￿ Practice a￿]cable to charities preparing their accounts in accordan￿ with the Financaal Reporting Standaril 102 applicable in the UK and Republic of Irela￿1 effectrrfe fr(Kn 1 January 2015. Governanco The chaiity is administered in accordan(x with ts constrtutK)n. It is r￿ISter8d under the rtyisterod charity numb8r 271259 and its cOnStst￿ has been fi18d ith th8 Charity CommisslM8rs. Recrultm•nt and appolntment of truste88 The truste6s have served as ststed page 1. New tnjstees are selècted for their willingness to help the trust without any financial reward. Th8 current 5 trustees are all ￿U$l￿$ and the offspring of the original trust8es (and grandchildren of Dorothy Bayles). All have strong faM￿rYj 0)nl￿diOnS and knowledge although this Is not a pre-requlslte of being a trustee. Objocllves Th8 Charity Commisslon'8 guld8nc on Publlc Bènèfft h88 been tsken Into consKleration by th8 trustees of the trust wh8n settlng the objective's for the trust whlch are lo cx)ilect the rent for the fam and to ensure thal all thg residual funds after property maint8nanc8. insuranc8. 18gal fe85 and statutory adminlstratlv8 ￿sts have been dedu¢Xed, are allocated to local ch8Tltles ar)d other charitsble activi1￿$. Achlevem•nts and P•rfornwn The Trust is reliant on voluntary help onty in respect to the malnten8nca of books and records and the admfjnlstra￿on tasks of collecting and dlstrSbuliFVJ rental Income and general dutles. Durlng th8 year th8re were no individual grants made in excess of £3.OLY). There wer8 no transactions with connected partios. Inv••tm•nt Pow•r As par the c¥xtstttth. the trustees havè the wjwern to In￿st Ihe monies wnprised In the trust fvnd. Rosèrves Pollcy Tha trustees o)nslder that the tntst fund has adequate reserves to cover Its exp8ndMur8. Thls 18 because donatlons are given from the trust fvnd but onty to the extent that they are covered by Incorne each year. Thè trust has no (x)rnmltsnent reganjlng annual donalions. Rlsk Managemont The trustees have rovi8wed Syst8n￿ to ensure that ad&]uate ts)ntrds ar8 ncpw in plac8 $0 as to lessen the major stratwJic. business and oper8lM)nal Tisks vthith the tharity fo￿. Approval This report was apW0N￿ by the truslees on 15 Jun8 20.24 and sigrb8d their behalf by: NiwJ.9.Jane Mathlen

Financial Statements

for the year ended 31 December 2023

for

The Dorothy Bayles Trust

The Dorothy Bayles Trust

Contents of the Financial Statements for the year ended 31 December 2023

	Page
General Information	1
Independent Examiners' Report	2
Trustees Report	3
Receipts and Payments account	4
Statement of Assets and Liabilities	5
Notes to the Financial Statements	6

The Dorothy Bayles Trust

General Information for the year ended 31 December 2023

TRUSTEES: Chairperson Mrs A D V F Campbell Trustees Mr R M B Strawson Mrs A D V F Campbell Mr A H Wheeldon Mrs N J Madden Mrs C E Pascoe ADDRESS: Brackley House Thorpe Lane Tealby MARKET RASEN Lincolnshire LN8 3XJ BANKERS: HSBC 221 High Street LINCOLN LN1 1TS INDEPENDENT Nicholsons EXAMINERS: Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN REGISTERED CHARITY NUMBER: 271259

Page 1

The Dorothy Bayles Trust

Independent Examiners' Report to the Trustees for the year ended 31 December 2023

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.

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 Examiners’ 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:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. 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.

Nicholsons Chartered Accountants Newland House, The Point Weaver Road LINCOLN Lincolnshire LN6 3QN

Date: 15 June 2024

Page 2

The Dorothy Bayles Trust

for the year ended 31 December 2023 Trustees Report

The trustees present their report and the financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, 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 102 applicable in the UK and Republic of Ireland effective from 1 January 2015.

Governance

The charity is administered in accordance with its constitution. It is registered under the registered charity number 271259 and its constitution has been filed with the Charity Commissioners.

Recruitment and appointment of trustees

The trustees have served as stated on page 1. New trustees are selected for their willingness to help the trust without any financial reward. The current 5 trustees are all cousins and the offspring of the original trustees (and grandchildren of Dorothy Bayles). All have strong farming connections and knowledge although this is not a pre-requisite of being a trustee.

Objectives

The Charity Commission’s guidance on Public Benefit has been taken into consideration by the trustees of the trust when setting the objective’s for the trust which are to collect the rent for the farm and to ensure that all the residual funds after property maintenance, insurance, legal fees and statutory administrative costs have been deducted, are allocated to local charities and other charitable activities.

Achievements and Performance

The Trust is reliant on voluntary help only in respect to the maintenance of books and records and the administration tasks of collecting and distributing rental income and general duties. During the year there were no individual grants made in excess of £3,000. There were no transactions with connected parties.

Investment Power

As per the constitution, the trustees have the powers to invest the monies comprised in the trust fund.

Reserves Policy

The trustees consider that the trust fund has adequate reserves to cover its expenditure. This is because donations are given from the trust fund but only to the extent that they are covered by income each year. The trust has no commitment regarding annual donations.

Risk Management

The trustees have reviewed systems to ensure that adequate controls are now in place so as to lessen the major strategic, business and operational risks which the charity faces.

Approval

This report was approved by the trustees on 15 June 2024 and signed on their behalf by:

Nicola Jane Madden

Page 3

The Dorothy Bayles Trust

Receipts and Payments Account for the year ended 31 December 2023

Notes Incoming resources Rental income Other income Total incoming resources 5 Resources expended Direct charitable expenses 2 Governance costs 3 Bank Charges 4 Total resources expended Net incoming/(outgoing) resources Balance brought forward Balance carried forward	Unrestricted Funds £ 49,587 55 49,642 49,323 528 73 49,924 (3,669) 2,595,417 2,591,748	Total 31.12.23 £ 49,587 55 49,642 49,323 528 73 49,924 (3,669) 2,595,417 2,591,748	Total 31.12.22 £ 55,921 145
			56,066
			47,545 984 82
			48,611
			7,455 2,587,962
			2,595,417

Page 4

The Dorothy Bayles Trust

Statement of Assets and Liabilities 31 December 2023

		2023			2022
	Notes	£	£	£	£
FIXED ASSETS
Fixed asset investment	6	2,578,500			2,578,500
CURRENT ASSETS
Cash in hand and in bank		13,248		16,917
NET CURRENT ASSETS			16,917		16,917
NET ASSETS		2,591,748			2,595,417
FINANCED BY
UNRESTRICTED RESERVES	7	2,591,748			2,595,417
TOTAL FUNDS			2,591,748		2,595,417

The financial statements were approved by the trustees on 15 June 2024 and signed on its behalf by:

Nicola Jane Madden

Page 5

The Dorothy Bayles Trust

Notes to the Financial Statements for the year ended 31 December 2023

1. ACCOUNTING POLICIES

a) Basis of preparing the financial statements

The charity constitutes a public benefit entity. The financial statements 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) effective from 1[st] January 2015, (the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £000.

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

b) Incoming Resources

Rental income is accounted for on a receipts basis.

The income from rentals is shown gross, and the associated costs included in direct charitable expenses.

c) Resources expended

All expenditure is accounted for on a payments basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributes to particular headings they have been allocated to activities on a basis consistent with the use of resources.

d) Value Added Tax

Value Added Tax is not recoverable by the charity and as such is included in the relevant costs is the Statement of Financial Activities.

e) Fixed Asset Investments

Fixed Asset Investments are recorded at market value, any gains or losses are recorded within the revaluation reserve within the statement of assets and liabilities.

Page 6

The Dorothy Bayles Trust

Notes to the Financial Statements

For the year ended 31 December 2023

2. Direct Charitable Expenditure

Professional Fees Donations Insurance 3.Governance Costs Independent examiners fees 4.Bank Charges Bank Interest 5.Incoming resources Rental of land Wayleave	2023 £ Total 2,400 45,000 1,923 49,323 2023 £ Total 528 528 2023 £ Total 73 73 2023 £ Total 49,597 55 49,642	2022 £ Total 660 45,000 1,885
		47,545
		2022 £ Total 984
		984
		2022 £ Total 82
		82
		2022 £ Total 55,921 145
		56,066

Page 7

The Dorothy Bayles Trust

Notes to the Financial Statements

For the year ended 31 December 2023

6. Fixed asset investment

6. Fixed asset investment
Valuation at 1st January 2023 Movement in valuation in the year Net book value as at 31 December 2023	Land £ 2,578,500
	- 2,578,500

The land represents 573 acres and has been valued by the trustees at £4,500 per acre on a tenanted basis.

7. Unrestricted Reserves

Included within unrestricted reserves is £2,005,500 of non-distributable reserves relating to previous years gains on investment property.

Page 7

les Tntst Examlners. R totheT ear ended 31 December 2023 for the I r8POrt to the Charity trustees on my examinatK)n of the accnunts of the Charity for the year erK18d 31 December 2023. Responslblllues and ba81$ of rnport As the charity's trustees you are responsitAe forthe preparalkn of the ac£ounts in accordance wilh the requirements of the char￿e$ Act 2011 (Ihe Acr). I ￿port in respect of my examination of the charitys a(xx)unts carried out under section 145 of the Ad and in rArrying out my examination I have fOll(￿ved al the applicable Directions given by the Charity Commission under sectlon 1445)(b) of the ACL Independènt Examlners, Statoment I have completed my examination. I confirni that no material mattws have ￿me to my attention in COnne￿10n wth the examination giving m8 cause to belleve that In any materlal respecL' 1. accounting rècords were not kept in resped of th8 tharity as required by section 130 of the Act: or 2. th8 acwunts do not accord with th088 r8cords; or 3. the accounts do not Comply with the applicable r8qulr8m8nts conc8mlng the fomi and content of accounts set out In the Char6ties (Accounts and ReFQrts) Regulattons 2008 0th8r than any requirement that the a¢c£sunts give a Irue and fair vithrf which is not a matter consid8r8d as part of an Ind8p8nd8nt examinati(￿. I have no concems arKI have c(Kne across no olher matters in connection with th8 examination to which attention should be drawn In thls report In order to enable a proper understandlng of the accounts to be reached. Nlcholsons Ch8rtered Accwntsnts Newland Hous8. The Point Weaver Road LINCOLN Llncolnshire LN6 3QN Date: .1.5..4JJDo.2024 Page 2