BARTLETT TAYLOR CHARITABLE TRUST
Accounts for the Year Ended 5 April 2025
THE TRUSTEES OF THE BARTLETT TAYLOR CHARITABLE TRUST
INDEX
Trustees Report
Independent Examiner’s Report to the Trustees.
Statement of Financial Activities
Balance Sheet
Notes to the Accounts
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST REPORT OF THE TRUSTEES
For the year ended 5 April 2025
The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of 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 lreland (FRS 102) (effective 1 January 2015).
Establishment of Trust
The Bartlett Taylor Charitable Trust (“The Trust”) was established by Ernest Bartlett Taylor, late of Gloucester Place, Witney, Oxfordshire, by a Declaration of Trust dated 14 June 1982 (‘the Trust Deed”)
Registration of the Trust
The Trust is registered with the Charity Commission under reference number 285249 with the name incorporated as “The Trustees of Bartlett Taylor Charitable Trust”. The principal address of the Trust is 24 Church Green, Witney, Oxfordshire, OX28 4AT. The Trust's correspondent is Mr Gareth Alty.
Trustees
The names of the trustees throughout the year were as follows:-
Throughout the year:
Mr Gareth Alty Mrs Katherine Bradley Mrs Sarah Boyd Mr Jonathan Smith Ms Janice Warner Mr Glen Miiner
The power of appointing new trustees is vested in the trustees.
Powers, 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 to 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 Bankers John Welch & Stammers HSBC Bank plc 24 Church Green 24 Market Square Witney Witney Oxfordshire Oxfordshire OX28 4AT OX28 6BG
Stockbrokers Charles Stanley & Co Limited 25 Luke Street London EC2A 4AR
Independent Examiners Bronsens Chartered Certified Accountants Eden House, Two Rivers Park, Station Lane, Witney Oxfordshire OX28 4BL
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST REPORT OF THE TRUSTEES (cont.....)
For the year ended 5 April 2025
Financial activities
1. Reserves
| Reserves | ||
|---|---|---|
| £ | £ | |
| The balance of Reserves at 6" April 2024 was | 2,292,767 | |
| Grants | 71,389 | |
| Less Income | 96,087 | 24,698 |
| Administration and other expenses | -60,504 | |
| Unrealised losses | -203,362 | |
| Balance5"April2025 | 2,053,599 |
The reserves have decreased by £239,168 (10.43%). It is the policy of the Trustees to 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 £2,053,599 is adequate for the future purposes of the Trust.
2. Investments
The Investments of the Trust and the return on such investments have been satisfactory during the financial year (see stockbrokers reports attached). In the current year no refund of tax deducted at source was available.
There was a decrease in the valuation of the investments of £238,194 (12.57%) over the previous year which due to the nature of the managed investments and the market was acceptable. Profits, being the costs of investments bought less sales amounted to £80,757.
The gain on valuation was £39,230 being the gain between the valuation of investments sold at 5 April 2025 and the net proceeds of sale, is transferred to the revaluation account.
During the year the Trustees approved purchases of £65,533 and disposals of £22,918 as recommended by the Stockbroker to the Trust.
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST REPORT OF THE TRUSTEES (cont.....)
For the year ended 5 April 2025
Financial activities
3. Costs
Costs have increased by £23,143 in comparison to the previous year where there was an increase of £562. This increase is due to an increase in property costs due to works and structural repairs required for the investment properties.
4. Income
Income has decreased by £3,963 made up of a decrease of £1,075 in dividend income, an increase in interest of £756 and an increase in rents and parking of £4,282. The difference is nominal and of no concern to the Trustees.
5. Grants
Expenditure on Grants during the year amounted to £72,405 an increase of £11,849 (19.6p%) over the previous year. A schedule is attached to this Report.
6. Contingent liabilities
The Trustees are unaware of any contingent liabilities or any matters that may impair the value of the assets of the Trust.
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22 |] 20cn
Dated
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BARTLETT TAYLOR CHARITABLE TRUST
Independent examiner's report to the trustees of The Bartlett Taylor Charitable Trust
| report to the charity trustees on my examination of the accounts of the Bartlett Taylor Charitable Trust (the Trust) for the year ended 5 April 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act).
| report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement | have completed my examination. | 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
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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.
Philip J Burton BSc FCA Bronsens Chartered Certified Accountants Eden House
Two Rivers Business Park Station Lane Witney Oxfordshire OX28 4BL
Date: 20 January 2026
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST Summary of Grants made during the year to 5 April 2025
| Category | Number | of]Range of | Total | |
|---|---|---|---|---|
| grants | grants | |||
| International Charities | 5 | 1000-1000 | 7,500.00 | |
| National Charities | 14 | 250-1000 | 9,250.00 | |
| Medical | 10 | 500-1000 | 6,500.00 | |
| Educational | 0 | 0 | 0.00 | |
| Local | ||||
| Community Projects | 23 | 250-2076.74 | 18,076.74 | |
| Charity | 13 | 250-1000 | 9,250.00 | |
| Medical | 18 | 500-1000 | 12,350.00 | |
| Educational | 7 | 250-2000 | 5,250.00 | |
| Individual | ||||
| Educational | 0 | 0 | 0.00 | |
| Relief | 9 | 50-1000 | 4,226.00 | |
| Medical | 0 | |||
| 72,402.74 | ||||
| Less grants | written back | -1,020.00 | ||
| 71,382.74 |
Less grants written back
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 5 April 2025
| STATEMENT OF FINANCIAL ACTIVITIES For thethe year ended 5 April 2025 |
|||
|---|---|---|---|
| April 05 | April 05 | April 05 | |
| 2025 | 2024 | 2024 | |
| £ | £ | £ | |
| Incoming resources | |||
| Investment income | |||
| Allotment and Wayleaves | 0.00 | 0.00 | |
| Car Parking Rents | 1,100.00 | 1,218.33 | |
| Blanket Hall Rent | 1,325.00 | 1,000.00 | |
| House Rents | 26,265.00 | 28,690.00 | 22,190.00 |
| Dividend Income | 65,568.26 | 66,643.50 | |
| Interest Income | 1,829.11 | 67,397.37 | 1,072.72 |
| Total Incoming Resources | 96,087.37 | 92,124.55 | |
| Resources Expended | |||
| Investment Management Costs | |||
| Stockbrokers Costs | 16,537.74 | 9,882.31 | |
| Commission & Lease renewal | 4,312.98 | 3,289.08 | |
| General repairs (Springfield) | 19,586.59 | 1,960.92 | |
| Website | 375.10 | 0.00 | |
| Sundries | 60.00 | 147.24 | |
| Other property costs | 4,017.85 | 44,890.26 | 8,128.08 |
| Charitable Activities | |||
| Grants | 72,408.74 | 60,556.00 | |
| Grants written back | -1,020.00 | -5,707.40 | |
| Administration Costs | 1,021.27 | 72,410.01 | 1,021.27 |
| Governance Costs | |||
| Accountancy fees | 3,300.00 | 3,000.00 | |
| Administration fees | 9,081.33 | 8,410.33 | |
| Adjustment to administration fees 23/24 | 671.00 | 0.00 | |
| Sundry bank charge | 0.00 | 2.00 | |
| Adjustment examination fees 23/24 | 40.00 | 120.00 | |
| Examination fees-24/25 | 1,500.00 | 14,592.33 | 1,400.00 |
| Total Resources Expended | 131,892.60 | 92,209.83 | |
| Net Incoming Resources | -35,805.23 | -85.28 | |
| Other Recognised Gains and Losses | |||
| Gains/Losses on investments assets | 119,987.32 | 8,964.78 | |
| Revaluation of investment assets | |||
| Property Note 3 |
-3,309.87 | -3,380.66 | |
| Investments Note 2 |
-320,039.39 | -203,361.94 | -9,903.44 |
| Net movement in funds | -239,167.17 | -4,404.60 | |
| Total funds brought forward | 2,292,766.61 | 2,297,171.21 | |
| 2,053,599.44 | 2,292,766.61 |
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST
BALANCE SHEET
For the Year ended 5 April 2025
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Note April 05 April 05
2025 2024
Fixed Assets
Investments 2 1,665,081.12 1,901,670.93
Investment properties 3 360,252.35 363,562.22
2,025,333.47| 2,265,233.15
Current Assets
Debtors 4 4,327.88 6,372.48
Cash at Bankers 45,305.89 40,124.58
49,633.77 46,497.06
Liabilities
Creditors 5 21,367.80 18,963.60
Total assets less current liabilities 2,053,599.44| 2,292,766.61
The Funds of the Charity
Unrestricted Funds 2,053,599.44 2,292,766.61
2,053,599.44| 2,292,766.61
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The Financial Statements were approved by the Board of Trustees on2dL January 2026 and were signed on its behalf by:
Gareth Alty - Trustee
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST Notes to the Accounts for the year ended 5 April 2025
1 ACCOUNTING POLICIES - See attached sheet.
| 2 | Investments | ||||
|---|---|---|---|---|---|
| (Schedule 2) | Cost | Valuation | |||
| £ | £ | £ | |||
| At6 April 2024 | 1,629,743.69 | 1,894,482.98 | |||
| Less disposals | 22,917.69 | 64,444.15 | |||
| 1,606,826.00 | 1,830,038.83 | ||||
| Add purchases | 65,533.06 | 65,533.06 | |||
| 1,672,359.06 | 1,895,571.89 | ||||
| Decrease in valuation | -239,282.50 | ||||
| At 5 April 2025 | 1,672,359.06 | 1,656 289.39 | |||
| Profit on sale of investments | |||||
| Proceeds | 103,674.58 | 103,674.58 | |||
| Cost of investments sold or transferred | 22,917.69 | 64,444.15 | |||
| 80,756.89 | 39,230.43 | 119,987.32 | |||
| Quoted investments at valuation | 1,656 289.39 | ||||
| Brokers dealing account | 1,791.73 | ||||
| Coif deposit | 7,000.00 | ||||
| Total Investments at 5 April 2025 | 1,665,081.12 | ||||
| 3 | Investment Property | ||||
| The land and buildings are stated in accordance with the Accounting | |||||
| Policies, the basis ofvaluation is shown, | and are made up as follows:- | ||||
| Revaluation | |||||
| Investment Properties | £ | £ | £ | ||
| 75A and 75B High Street, Witney | |||||
| At 5 April 2024 | 163,704.43 | ||||
| Depreciation | 3,274.09 | 160,430.34 | -3,274.09 | ||
| Other properties | |||||
| Museum at rear of75A High Street | |||||
| At 5 April 2024 | 35,000.00 | ||||
| Land rear of75A & 75B High Street | |||||
| At 5 April 2024 | 164,500.00 | 199,500.00 | |||
| (at professional valuation) | |||||
| Witney Blanket Hall | |||||
| At 5 April 2024 (see notes below) | 0.00 | ||||
| Furniture | |||||
| At 5 April 2024 | 357.79 | ||||
| Depreciation | 35.78 | 322.01 | -35.78 | ||
| (at estimated valuation) | |||||
| At5April2025 | 360,252.35 | -3,309.87 |
The Museum is let on a full repairing lease for 35 years from 31st July 1995 ata peppercorn rent and is not treated as an investment property. The land that the museum sits on at 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 to an overage which stated that the entire sale proceeds would be paid back to the estate less an amount of £100,000.00 paid for
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST Notes to the Accounts for the year ended 5 April 2025
3 Investment Property cont......
construction costs by the trust. The overage was for a period of 10 years. On 21st January 2014 a a lease of the hall was granted to Witney Blanket Hall CIC for 30 years at a base rent of £1,000.00 PA. This rent was increaed to £1,325.00 during 2025.
The properties at 75a and 75b High Street, Witney were gifts from the Estate of E Bartlett Taylor deceased. The former offices, converted into two houses,are let. The valuation figure does not include the land element (under different heading) for investment and depreciation purposes.
| 2024/2025 | 2023/2024 | ||
|---|---|---|---|
| 4 | Debtors | £ | £ |
| Dividends due | 4,197.88 | 4,239.74 | |
| Witney Blanket Hall CIC - rent | 0.00 | 2,082.74 | |
| Insurance (shortfall between paid and received) | 50.00 | 50.00 | |
| Parkers-rentalincome | 80.00 | 0.00 |
| 5 | Creditors | 2024/2025 | 2023/2024 |
|---|---|---|---|
| £ | £ | ||
| John Welch & Stammers - fees | 13,402.60 | 12,431.60 | |
| Examination fees | 1,500.00 | 1,400.00 | |
| Balance fee Lease inc creditor last year | 35.37 | 12.00 | |
| Grants & o/s cheques | 6,429.83 | 5,120.00 | |
| 21,367.80 | 18,963.60 |
6 Trustee Expenses
An amount of £13,402.60 inclusive of VAT, is payable to John Welch & Stammers in respect of professional fees for the year to 5 April 2025.
No other Trustee nor any person connected with them has received, or is due to receive, any remuneration directly or indirectly from the Charity's funds.
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements 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 entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Assets
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a. Investments are valued by the appointed stockbrokers to the Charity at mid-market value.
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b. Realised gains are recognised in the date of sale of the asset.
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c. Unrealised gains are recognised on the revaluation of the asset.
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d. Freehold land and Buildings has been valued professionally during November 2005.
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e. Furniture has been included at estimated valuation.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to 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 aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.
Allocation and apportionment of costs
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Taxation
The charity is exempt from tax on its charitable activities.
THE TRUSTEES OF BARTLETT TAYLOR CHARITABLE TRUST REPORT OF THE TRUSTEES (cont.....)
For the year ended 5 April 2025
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 realised income. Expenses are normally met from the reserves.
There are no provisions in the Deed restricting the Trustees in the distribution of either Income or Capital.
Investments
It is the policy of the Trustees to appoint a Stockbroker to recommend the purchases and sales of marketable securities to produce both growth and income and to invest on a medium to low risk basis. The recommendations of the Stockbroker are then considered by the Trustees for implementation.
Surplus Funds which may be required on a short term basis are invested with CCLA Charity Funds on an instant access basis.
Properties are developed to produce rental income to the best advantage.
Undeveloped land is for resale when maximum proceeds can be obtained from developers.
A property has been developed for use as a Museum to provide local facilities for the public and for which a peppercorn rental is charged.
Witney Blanket Hall was transferred to the trust by the executors of the John Brian Crawford estate for £NIL consideration by a transfer dated 5" September 2013. The transfer was subject to an overage which stated that the entire sale proceeds would be paid to the estate less an amount of up to £100,000 paid for construction costs by the trust. The overage was for a period of 10 years.
On 25" April 2014 a lease of the hall was granted to Witney Blanket Hall CIC for 30 years from 21 January 2014 at a base rent of £1000 pa reviewed upwards to RPI every 5 years with a turnover rent in addition of 5% once the threshold exceeded £250,000 pa.
Grants
It is the policy of the Trustees to consider all applications for Grants from national and local charities, individuals for educational and social assistance and other organisations of a charitable or social nature, with a preference to providing Grants for the relief of local needs.
Loans
Although in the past the Trustees have considered application for Loans, it now not the policy of the Trustees to consider such applications.
Administration
It is the policy of the Trustees to meet every two months to consider applications for Grants and to deal with any other matter arising and also to meet at other times to discuss specific matters other than Grants.