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 actnting polirAes set out in
notes to the accounts and (x)mply vth 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 Irela1 effectrrfe fr(Kn 1 January 2015.
Governanco
The chaiity is administered in accordan(x with ts constrtutK)n. It is rISter8d 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 faMrYj 0)nldiOnS 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 admfjnlstraon 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 Inst 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 chare$ 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
COnne10n 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