BARTLETT TAYLOR CHARITABLE TRUST Accounts for the Year Ended S A ril 2024
THE TRUSTEES OF THE BARTLETT TAYLOR CHARITABLE TRUST INDEX Truste¢s Report Independent Examiner's Report to the Trustees. Statement of Financial Activities Balance Sheet Notes to the Accounts
THE TRUSTEES OF BARTLErr TAYLOR CHARITABLE TRUST REPORT OF THE TRUSTEES For the year ended 5 April 2024 The Iruslees present their report with the financial statements of the Chanty for the year ended 5 April 2024. The tru51ees have adopted the provisions of Accounting and Reporting by Charitie5". Slalement of Recommended Practice applicable to charf(ies preparing their accounts in aecordance wf(h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151. Establlshment of Trust The 8artlett Taylor Charitable Trust I'The Trust'} was established by Ernest Bartlett Taylor, late of Gloucester Place, W((ney, Oxfordshire, by a Declaration of Trust dated 14 June 19821.the Trust Deed'l Registratlon of the Trust The Trust is registered wi(h the Charity Commission under fence number 285249 with the name incorpor*ed as 'The Trustees of Bartlell Taylor Charitable Trust.. The principal address of the Trust is 24 Church Green, Witney, Oxfordshire, OX28 4AT. The Tru$t'$ corrospondent is Mr Gareth Alty. Trustees The names of the Iruslees Ihroughoul the year were as follows'.- Throughout the year Mr Gareth Alty Mrs Katherine Bradley Mrs June Smith Mrs Sarah Boyd Mr Jonathan Smith Ms Janice Warner Mr Glen Milner Th8 powgr of appointing new tru$teo$ is vested in tho trustees. Powersi policies and objectives of the Trustees The general powers of the Trustees and policies adopted by them are set out in the Statement of Policies annexed lo this report. The policies have in all instances been successfully achieved during the current year. No changes in policies are anticipated in the current year. Advisors and Bankers to the Trust Solicitors John Welch & Slammers 24 Church Green Wilney Oxfordshire OX28 4AT Bankers HSBC Bank plc 24 Market Square Wilney Oxfordshire OX28 68G
Stockbrokers Chartes Stanley & Co Limited 25 Luke Street London EC2A 4AR Independent Examlners Bronsens Chartered Certtfied Accountants Eden House, Two Rivers Park, Station Lane. Wilney Oxfordshire OX28 4BL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TFIE BARTLE TAYLOR CHARITABLE TRUST Independent examinerfs report to the trustees of The Bartlett Taylor Charitable Trust I report lo the charity trustees on my examlnalion of the accounts of the Bartlett Taylor Charitable Trust Ilhe Trust) for the year ended 5 April 2024. Re$pon5ibilitie5 and basis of report As the charity trustees of the Trust you a responsible for the preparation of the accounts in accordance with the qUIrementS of the Charities Act 2011 {Ihe Act.). I report In respect of my examln81ion of tha Trusfs accounts carrled out under sèction 145 of the Act and in carying out My examination I have followed all applicable Directions given by the Charity Commission under section 145{5llbl of the Act. Indep¢nd?nt examlnerf$ statement I have completed my examination. I confim that no materlal matters have come to my attention in connection with the exarninalion gtving me cause to believe that in any material respect.. accounting racords war8 not k8Pt in respect ol th8 Trust as raquired by sèction 130 of the Act., or the accounts do not accord with Ihose records. or the accounts do not comply w4th the applicable requiremènts concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view whth is not a matter considered as part of an independent exarninalion. I have Tho concerns and have come across no other nutters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. tyf Philip J Burton Bsc FCA Bronsens Chartered Certified Accountants Eden House Two Rivers Business Park Station Lane Wilney Oxfordshi OX28 4BL Dalè:
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST REPORT OF THE TRUSTEES {cont..... For the year ended 5 April 2024 Flnancial aclivltS8s 1. Reseryes The balance of Reserves al 6th April 2023 was Grants Less Income Adminislralion and other expenses Unrealised losses 2,297,171 54,849 92,125 37,276 -37,361 4,319 Balance 5th April 2024 2,292,767 The reserves have decreased by £4,404 10.190101. It is the policy of the Trustees lo provide income for the distribution of grants and to pay expenses from the reserves and this has been achieved. In the opinion of the Trustees the reserve of £2,292,767 is adequate for the future purposes of the Trust. 2. Inve$tm¢nls The Investments of the Trust and the return on Such investments has b$en salistsLIory during the financial year (see stockbrokers reports attached). In the current year no refund of tax deducted al source was available. There was a decrease in the valuation ol the investments of £14.086 1.74%) over the previous year which due lo the nature of the managed investments and the market was acceptable. Losses, being the costs of investments l)oughl less sales amounted lo £3,948. The gain on valuation was £12,913 being the gain between the valuation of investments sold al 5 April 2023 and tho net pr¢xeeds of sale, is transferred to the revaluation account. During the year the Trustees approved purchases of £104,243 and disposals of £121,338 as recommended by the Stockbroker lo the Trust.
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST REPORT OF THE TRUSTEES {cont..... For the year end8d 5 April 2024 Financial activities 3. Costs Costs have increased by £562 in Comparison lo the prevK)us year where there was an increase of £23,257. The continuing commitment lo the Blanket Hall is now deemed by the Tru51ees to be grants lo a local community project, not costs of the Trust ilsew. 4. Income Incorne has decreased by £383 made up of an increase of £621 in diVend income, an increase In inteiest of £798 and an decrease in rents and parking of £1,802. The difference is nominal and of no concern to the Trustees. 5. Grants Expenditure on Grants during the year amounted to £60.056 a decrease of £32.330 135%> over the previous year. A schedule 1$ attached lo this Report. 6. Contlngent Ilabllltles The Trustees are unaware of any contingent liabilitie$ or any matters that may impair the value of the assets of the Trust. Gareth Atty_ ee IS
THE TRUSTEES OF BARTLErr TAYLOR CHARITABLE TRUST Surnmary of Grants made durlng the yearto S Aprll 2024 Category Number of rants Range of rants Total International Charities 1000-2000 7,000.00 National Charities Medical Educational 31 250-1000 18,000.00 0.00 0.00 Local Community Projects Charity Medical Educational 25 14 25-1000 250-1116 500-1000 250-500 13,550.00 9,866.00 4,500.00 1,750 00 Individual Educational Relief Medical 0.00 5,390.00 16 270-500 60,056.00 ,707.40 Less grants written back 54.348.60
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES For the year ended 5 Aprll 2024 April 05 2024 April 05 2024 April 05 2023 Incomlng resources Invgstmgnt incomg Albtment and Wayleaves Car Parking Rents Blanket Hall Rent House Rents 0.00 1,218.33 1,000.00 22,190.00 0.00 3,320.00 1,000.00 21,890.00 24.408.33 Dividend In¢ome Interest Income 66,643.50 1,072.72 0.00 66,022.86 274.99 0.00 67.716.22 Total Incoming Resources 92,124.55 92,507.85 Resources Expended Investment Management Costs Stockbrokers Costs Commission & Lease renewal General repairs {Sprin9fieldl Website Sundiies other property costs Charitable Activities Grants Grants written back Administration Costs Governance Costs Accountancy fees Administration fees Sundry bank charge Adjustment examination fees 22123 Examination fees-23124 9,882.31 3,289.08 1,960.92 0.00 147.24 8,128.08 13.317.57 2,996.88 8.708.49 0.00 85.00 6.00 23,407.63 80,556.00 -5,707.40 1,021.27 92.314.40 -500.00 1,021.27 55,869.87 3,000.00 8,410.33 2.00 120.00 1,400.00 3,000 00 6,380.45 2.00 60.00 1,200.00 12,932.33 Total Resources Expended 92,209.83 128,592.06 Nel Incomin9 Resources -85.28 -36,084.21 Other Recognised Gains and Losses GainslLosses on investments assets Revaluab'on of investment assets Propety Investments 8,964.78 -62,367.42 Note 3 Note 2 -3,380.66 -9,903.44 -3,453.26 -77.778.22 4,319.32 Net movement in funds 4,404.60 -179,683.11 Total funds brought forward 2,297,171.21 2.476, 854.32 2,292,766.61 2,297, 171.21
THE TRUSTEES OF BARTLE TAYLOR CHARABLE TRUST BALANCE SHEET Forthe Yearended 5 Aprfl 2024 Note April 05 2024 April 05 2023 Fixed Assets Investrnenls Investment properties 1,901.670.93 1,912.491.90 363,562.22 366.942.88 2,265,233.15 2,279.434.78 Current A86ets Debtors Cash at Bankers 6.372.48 40.124.58 46.497.06 6.686.88 30.064.67 36,751.55 Liabilities Creditors 18.g63.60 19,015.12 Total assets less Cent liabilikn'es 2,292,766.61 2,297.171.21 The Funds ofthe Charity Unrestricted Funds 2,292,766.61 2,297,171.21 2,292,766.61 2,297,171.21 The Financial Ststements were approved by the Board of Trustees on and were signed on ils behalf b 25 Gareth Aty- Trustee
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST Notes to the Accounts for the year ended 5 April 2024 1 ACCOUNTING POLICIES - See attached sheeL 2 Investments (schedu 21 Cost Valuation At 6 April 2023 Less disposals 1,646,838.67 121,337.75 1,525,500.92 104,242.77 1,629,743.69 1,908,568.72 104,477.17 1,804,091.55 104,242.77 1,908,334.32 -13 851.34 Add purchases Decrease in valuatson At 5 April 2024 1,629,743.69 1,894,482.98 Profit on sale of investments Proceeds Cost of investsments sold or transferred 117.389.85 121,337.75 -3,947.90 117,389.85 104,477.17 12,912.68 8 964.78 Quoted investments at valuation Brokers dealing account Coif deposit Total Invgstments at 5 April 2024 1,894,482.98 187.95 7,000.00 1901 670.93 3 Investment Property The land and buildings are slated in accordance with the Accounting Policies. the basis of valuation is shown, and are made up as follows".- Revaluation Investment Properties 75A and 75B High Street, Witney At 5 April 2023 Depreciation 167,045.34 3,340.91 163,704.43 -3,340.91 Other propertles Museum at rear of 75A High stet At 5 April 2023 Land rear of 75A & 75B High Street At 5 April 2023 35,000.00 164,500.00 199,500.00 (* prof694onal valuadonl Witney Blanket Hall Al 5 April 2023 (see notes below) 0.00 Furniture Al 5 April 2023 Depreciation lal estsmatsd vaiuatyonl 397.54 39.75 357.79 -39.75 Al 5 April 2024 363,562.22 -3,380.66 The Museum is let on a full repairing lease for 35 years from 31 st July 1995 at a peppercorn rent and is not Irealed as an investment property. The land that the museum sils on al the rear of 75a & 75b High Street are listed separately from the properties for depreciation purposes. Witney Blanket Hall was transferred to the trust by the executors of the John Brian Crawford estate for £nil consideration on 5th September 2013. The transfer was subject lo an overage which slated that th6 entire sale proceeds would be paid back to the eslate less an amount of £100,000.00 paid for
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST Notes to the Accounts for tho year ended 5 April 2024 3 Investment Property cont...... construction costs by the trust. The overage was for a period of 10 years. On 21sl January 2014 a a lease of the hall was granted to Wrtney Blanket Hall CIC for 30 years at a base nt of £1000.00 PA. The properties al 75a and 75b High Street, Witney were gift5 from the Estate of E Bartlett Taylor deceased. The former offices, converted into houses,are let. The valuation figure does not indude the land element (under different heading) for investment and depreciation purposes. 202312024 202212023 4 Debto Dividends due Wilney Blanket Hall CIC - rent Insurance Ishortfall beeen paid and received} Parkers- rentsl income 4,239.74 2,082.74 50.00 0.00 6,372.48 3,554.14 3,082.74 50.00 6,686.88 5 Creditors 202312024 202212023 John Welch & Stamrners- fees Examination fees Office copies Grants & ols cheques 12,431.60 1,400.00 12.00 5,120.00 18,963.60 10,401.72 1,200.00 6.00 7,407.40 19,015.12 6 Trustee Expenses An amount of £12,431.60 inclusive of VAT, is payable to John Welch & Stammers in respect of professional fees for the year lo 5 April 2024. No other Trustee nor any person connected with them has Teceived, or is due to receive, any remuneration directly or indirectly from the Charity's funds.
TrIE TRUSTEES OF BARTLErr TAYLOR CHARITABLE TRUST ACCOUNTING POLICIES Basis of preparing the linancial statements The financial slalemenls of the charty, which is a public benefit entity under FRS 102, have been prepared in accordan with the Charities SORP {FRS 1021 'A¢counting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Chorilies Act 2011. The financial slalemen15 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 enlitlemenl to the funds, (( is probable that the income will be received and the arnounl can be measured reliably. Assgts a. Investments are valued by the appointed stockbrokers lo the Charity al mid-market value. b. Realised gains are recognised in the date of sale of the asset. c. Unrealised gains are recognised on the revaluation of the asset. d. Freehold land and Buildings has been valued professionally ijuring November 2005. e. Furnf(ure has been included al eslimaled valuation. ExpenditUfO Liabilrties are recognised as expendf(ure as soon as there is a legal or constructive obligation commilling the charity lo 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 a9gregate all cost related to the category. W)ere costs cannot be directly attributed lo partular headings they have been allocated lo activities on a basis consislenl wf(h tho uso of resources. Grants offered subject lo condi(ions whh have not been met al the year-end date are noted as a commitment bul not accrued as expgnditure. Allocation and apportionmont of costs All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Where ¢osls cannot be diredly attributed to particular headings they have been alloceled to activitS on a basis consistent with use of the resources. Taxatlon The charity is exempt from tax on ils charstable aclivrties.
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST REPORT OF THE TRUSTEES Icont..... For the year ended 5 April 2024 STATEMENT OF POLICIES OF THE TRUSTEES Reserves It is the policy of the Trustees to maintain Reserves to provide adequate funding of assets to enable the Grants to be maintained on the basis that approved grants should as far as possible be matched to the alISed income. Expenses are normally mel from the reserves. There are no provisions in the Deed restricting the Trustees in the distrib{rtn of eilher Incmie or Capital. Investments 11 is the policy of the Trustees lo appoint a Stockbroker lo recommend the purchases and sales of marketable securities lo produce both growth and income and to invest on a medium lo low risk basis. The recommendation$ of the Stockbroker are then considered by the Trustees for implementation. Surplus Funds which may be required on a short term basis are invested wilh CCLA Chanty Funds on an instant access basis. Properties are developed lo produce rental income lo the best advantage. Undeveloped land is for resale when maximum proceeds can be obtained from devek)pers. A property has been developed for use as a Museum to provide local facilitie$ for the public and for which a peppercorn rental is charged. Wilney Blanket Hall was transferrgd lo thg Irusl by the executors of the John Brian Crawford estate for £NIL Consideration by a transfer dated 5111 September 2013. The transfer was subject lo an overage which staled that the entire sale proceeds would be paid to the eslale less an amount of up to £1 DO.000 paid for construction costs by the trust The overage was for a period of 10 years. On 25th April 2014 a lease of the hall was granted lo Wrtney Blanket Hall CIC for 30 years from 21st January 2014 al a base rent of £1000 pa reviewed upwards to RPI every 5 ygars wrth a turnover rent in addrtion of 5¥0 once the threshold exceeded £250,000 pa. Grants 11 is the policy of the Trustees lo consider all appIationS for Grants from national and local charf(ies, individuals for educational and scKial assistance and other organisalions of a charitable or social nature, with a preference lo providing GTanls for the relief of loeal needs. Loans Although in the past tho Trustees have Considered application for Loans. il now not the policy of the Trustees to consider such applicalKJns. Administration It is the policy of the Trustees to meet every months lo consider applications for Grants and lo deal with any other matter arising and also lo meet al other times to discuss Specffic matters other than Grants.