The Bingham Trust
Charity No. 287636
Trustees' Report and Unaudited Accounts
05 April 2025
The Bingham Trust Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
Page 1
The Bingham Trust Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 5 April 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 287636
Principal Office
Unit 1 Tongue Lane Industrial Estate Dew Pond Lane Buxton SK17 7LN
Trustees
The following trustees served during the year:
E. Butterley R.A. Horne A.M. Hurst (Resigned 2 June 2025) C. McMullen Key Management Personnel Chair R A Horne
Accountants
Peak District Accountants Ltd Nythfa Main Street Elton Matlock DE4 2BU
Solicitors
Brooke-Taylor 4 The Quadrant Buxton Derbyshire SK17 6AW
Investment Advisors
RBC Brewin Dolphin Ltd 1 The Avenue Spinningfields Square Hardman Street Manchester M3 3AP
OBJECTIVES AND ACTIVITIES
Page 2
The Bingham Trust Trustees Annual Report
The objectives of the Trust are to support charitable organisations and activities in accordance with the wishes of Robert Henry Bingham as indicated in the Governing Document below. During the year the Trustees have provided charitable funding to members of the public and organisations. Persons who have benefited from funding are all people who have met the Trustees' criteria of:
-
suffering from poverty and being unable to achieve a satisfactory standard of living despite having access to statutory benefits, or
-
suffering from poverty and being in need of educational support which is not available from statutory or parental sources, or
-
suffering from poverty and from illness and in need of support not available from statutory authorities.
Organisations that have benefited from funding are all organisations which:
-
support members of the public meeting one or more of the above criteria, or
-
are community organisations providing non-profit making services to the community, or
-
are non-profit making organisations involved in research into arthritis, or
-
are churches, or
-
are non-profit making organisations involved in advancing the arts for public benefit.
The Trustees have complied with their duty in Section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Income from investments in the year totalled £158,484, which is a 16.0% decrease on the previous year (2024: £183,772). This reflects the state of the global economy.
Expenditure in the year totalled £223,799 (2024: £189,857). The increase relates fully to the increase in donations towards the charities causes.
The Trust has provided support to organisations and individuals experiencing times of difficulty, these grants totalled £176,736 (2024: £144,977). Opportunities for support are constantly being reviewed and monitored and there has been a continuous influx of requests for assistance throughout the year.
FINANCIAL REVIEW
Reserves policy
The Trust Fund comprises of an investment portfolio which is managed by Brewin Dolphin. The Trustees have a policy of investment for medium risk, with the emphasis on income rather than capital growth, but not so as to adversely affect capital growth. The Trustees take the advice of the Trust's investment advisers in making decisions but try to avoid investment in certain investments which are considered to be unethical or inappropriate.
Sales, purchases and restructures of shares during the year resulted in realised gains of £3,731 (2024: £21,481), which were made available for reinvestment. The market value of the share portfolio at the year end has decreased in value from £6,223,205 to £6,092,320.
There are sufficient resources held in cash funds to meet requirements for charitable grants in the medium term.
The Trustees have adopted a reserves policy of attempting to draw down income funds so that reserves retained should cover funds promised to beneficiaries, potential extraordinary expenditure and the accountancy, legal and administration expenses of the Trust.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Page 3
The Bingham Trust Trustees Annual Report
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Trust was established under the Will of Robert Henry Bingham who died on 3 August 1977. The provisions of the Will relevant to the Trust required the Trustees to give the income of the Trust Fund to such charitable institutions or such other charitable objects in England as the Trustees in their absolute discretion select. Mr Bingham however expressed his wish as to the type of organisations and locality to which priority should be given, and the Trustees have always sought to comply with his wishes in administering the Trust. All applications received are examined carefully to ensure that these comply with the objects of the Trust.
There is no power to make donations out of capital.
Trustees
The Trustees customarily meet four times a year to consider Trust business including the making of donations. The existing Trustees have the power to appoint new Trustees at their discretion.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
R.A. Horne Trustee 06 October 2025
Page 4
The Bingham Trust Independent Examiners Report
Independent Examiner's Report to the trustees of The Bingham Trust
I report to the trustees on my examination of the financial statements of The Bingham Trust for the year ended 5 April 2025.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 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 examiner's statement
I have completed my examination. I can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
M W Thomas ACA / ICAEW Peak District Accountants Ltd Nythfa Main Street Elton Matlock DE4 2BU 06 October 2025
Page 5
The Bingham Trust Statement of Financial Activities
for the year ended 5 April 2025
| Notes Income and endowments from: Donations and legacies 3 Investments 4 Total Expenditure on: Raising funds 5 Charitable activities 6 Other 7 Total Net (losses)/gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Endowment funds |
Total funds | Total funds | |
|---|---|---|---|---|---|
| 2025 | 2025 | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| - | - | - | 98 | ||
| 158,484 | - | 158,484 | 183,674 | ||
| 158,484 | - | 158,484 | 183,772 | ||
| 35,798 | - | 35,798 | 33,721 | ||
| 176,736 | - | 176,736 | 144,977 | ||
| 11,265 | - | 11,265 | 11,159 | ||
| 223,799 | - | 223,799 | 189,857 | ||
| - | (57,899) | (57,899) | 512,686 | ||
| (65,315) | (57,899) | (123,214) | 506,601 | ||
| 52,700 | (52,700) | - | - | ||
| (12,615) | (110,599) | (123,214) | 506,601 | ||
| (12,615) | (110,599) | (123,214) | 506,601 | ||
| 176,974 | 6,243,006 | 6,419,980 | 5,913,379 | ||
| 164,359 | 6,132,407 | 6,296,766 | 6,419,980 | ||
Page 6
The Bingham Trust Balance Sheet at 5 April 2025
| Charity No. 287636 Fixed assets Investments 9 Current assets Debtors 10 Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 12 Endowment funds Unrestricted funds 12 General funds Reserves 12 Revaluation reserve Total funds Approved by the trustees on 06 October 2025 |
2025 £ 6,102,320 6,102,320 14,824 190,892 205,716 (11,270) 194,446 6,296,766 6,296,766 6,296,766 5,634,799 5,634,799 164,359 164,359 497,608 497,608 6,296,766 |
2024 £ 6,233,205 |
|---|---|---|
| 6,233,205 15,089 182,500 |
||
| 197,589 (10,814) |
||
| 186,775 6,419,980 |
||
| 6,419,980 | ||
| 6,419,980 | ||
| 5,683,768 | ||
| 5,683,768 176,974 |
||
| 176,974 559,238 |
||
| 559,238 | ||
| 6,419,980 | ||
And signed on their behalf by:
R.A. Horne Trustee 06 October 2025
Page 7
The Bingham Trust Notes to the Accounts
for the year ended 5 April 2025
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
The Bingham Trust Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 9
The Bingham Trust Notes to the Accounts
- 2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Investments Total Expenditure on: Raising funds Charitable activities Other Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Individual bequest 4 Income from investments Brewin Dolphin Portfolio NS&I Bonds Bank Interest |
Unrestricted funds 2024 £ 98 183,674 183,772 33,721 144,977 11,159 189,857 - (6,085) 12,028 5,943 5,943 171,031 176,974 Unrestricted £ 142,818 343 15,323 158,484 |
Endowment funds 2024 £ - - - - - - - 512,686 512,686 (12,028) 500,658 500,658 5,742,348 6,243,006 Total 2025 £ - - Total 2025 £ 142,818 343 15,323 158,484 |
Total funds 2024 £ 98 183,674 |
| 183,772 33,721 144,977 11,159 |
|||
| 189,857 512,686 |
|||
| 506,601 - |
|||
| 506,601 | |||
| 506,601 5,913,379 |
|||
| 6,419,980 | |||
| Total 2024 £ 98 |
|||
| 98 | |||
| Total 2024 £ 178,484 338 4,852 |
|||
| 183,674 |
Page 10
The Bingham Trust Notes to the Accounts
5 Expenditure on raising funds
| 5 | Expenditure on raising funds | |||
|---|---|---|---|---|
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| £ | £ | £ | ||
| Investment management | ||||
| costs | ||||
| Brewin Dolphin Portfolio | 35,798 | 35,798 | 33,721 | |
| 35,798 | 35,798 | 33,721 | ||
| 6 | Expenditure on charitable activities | |||
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| £ | £ | £ | ||
| Expenditure on charitable | ||||
| activities | ||||
| Grants paid | 176,736 | 176,736 | 144,977 | |
| Governance costs | ||||
| 176,736 | 176,736 | 144,977 | ||
| 7 | Other expenditure | |||
| Unrestricted | Total | Total | ||
| 2025 | 2024 | |||
| £ | £ | £ | ||
| Employee costs | 6,000 | 6,000 | 6,000 | |
| Motor and travel costs | 25 | 25 | - | |
| Premises costs | 2,880 | 2,880 | 2,880 | |
| General administrative costs | 855 | 855 | 762 | |
| Legal and professional costs | 1,505 | 1,505 | 1,517 | |
| 11,265 | 11,265 | 11,159 | ||
| 8 | Staff costs | |||
| 2025 | 2024 | |||
| Salaries and wages | 6,000 | 6,000 | ||
| 6,000 | 6,000 | |||
| No employee received emoluments in excess of £60,000. | ||||
| The average monthly number | of full time equivalent employees during the year | was as follows: | ||
| 2025 | 2024 | |||
| Number | Number | |||
| Administration | 1 | 1 | ||
| 1 | 1 |
Page 11
The Bingham Trust Notes to the Accounts
9 Investments
| 9 Investments |
|||
|---|---|---|---|
| Cost or revaluation At 6 April 2024 Additions Revaluation Disposals At 5 April 2025 Net book values At 5 April 2025 At 5 April 2024 |
Other investments - Listed £ 6,223,205 922,252 (61,630) (991,507) 6,092,320 6,092,320 6,223,205 |
Other investments - Unlisted £ 10,000 - - - 10,000 10,000 10,000 |
Total £ 6,233,205 922,252 (61,630) (991,507) |
| 6,102,320 | |||
| 6,102,320 | |||
| 6,233,205 | |||
| Other investments reflects monies held in National Savings Income Bonds. | |||
| Market value of listed investments 10 Debtors Other debtors Prepayments and accrued income Amounts included within Other debtors that fall due after more than one year 11 Creditors: amounts falling due within one year Accruals |
2025 £ 6,092,320 2025 £ 14,648 176 14,824 14,648 2025 £ |
2024 £ 6,223,205 |
|
| 2024 £ 14,648 441 |
|||
| 15,089 | |||
| 14,648 | |||
| 2024 £ |
|||
| 11,270 | 10,814 | ||
| 11,270 | 10,814 |
Page 12
The Bingham Trust Notes to the Accounts
12 Movement in funds
| Movement in funds | |||||
|---|---|---|---|---|---|
| At 6 April 2024 5,683,768 5,683,768 176,974 |
Incoming resources (including other gains/losses) £ 3,731 3,731 158,484 |
Resources expended £ |
Gross transfers £ (52,700) (52,700) 52,700 |
At 5 April 2025 £ 5,634,799 |
|
| Restricted funds: Endowment funds: Endowment Total Unrestricted funds: General funds |
|||||
| - | |||||
| - (223,799) |
|||||
| 5,634,799 | |||||
| 164,359 | |||||
| Revaluation Reserves: | |||||
| Endowment funds: Endowment |
559,238 559,238 559,238 6,419,980 |
(61,630) (61,630) (61,630) 100,585 |
- | 497,608 | |
| Total | (223,799) | 497,608 | |||
| Total revaluation reserves Total funds |
|||||
| 497,608 | |||||
| 6,296,766 |
Purposes and restrictions in relation to the funds:
Revaluation reserves Represent the amount by which investments exceed their historical cost.
Endowment funds: Endowment To generate income which can be gifted for charitable purposes in line with the Will of Robert Henry Bingham.
13 Analysis of net assets between funds
| Investments Net current assets 14 Reconciliation of net debt Cash and cash equivalents Net debt |
Unrestricted funds £ |
Restricted funds £ |
Total £ |
|---|---|---|---|
| - | 6,102,320 | 6,102,320 | |
| 164,359 164,359 At 6 April 2024 £ |
30,087 6,132,407 Cash flows £ |
194,446 | |
| 6,296,766 | |||
| At 5 April 2025 £ |
|||
| 182,500 | 8,392 | 190,892 | |
| 182,500 182,500 |
8,392 8,392 |
190,892 | |
| 190,892 | |||
Page 13
The Bingham Trust Detailed Statement of Financial Activities
for the year ended 5 April 2025
| Income and endowments from: Donations and legacies Individual bequest Investments Brewin Dolphin Portfolio NS&I Bonds Bank Interest Total income and endowments Expenditure on: Investment management costs Brewin Dolphin Portfolio Total of expenditure on raising funds Charitable activities Grants paid Total of expenditure on charitable activities Employee costs Salaries/wages Motor and travel costs Travel and subsistence Premises costs Rent General administrative costs, including depreciation and amortisation Bank charges General insurances Software, IT support and related costs Stationery and printing Subscriptions |
Unrestricted funds 2025 £ - - 142,818 343 15,323 158,484 158,484 35,798 35,798 35,798 176,736 176,736 176,736 6,000 6,000 25 25 2,880 2,880 161 327 140 165 40 |
Endowment funds 2025 £ - - - - - - - - - - - - - - - - - - - - - - - - |
Total funds 2025 £ - - 142,818 343 15,323 158,484 158,484 35,798 35,798 35,798 176,736 176,736 176,736 6,000 6,000 25 25 2,880 2,880 161 327 140 165 40 |
Total funds 2024 £ 98 |
|---|---|---|---|---|
| 98 | ||||
| 178,484 338 4,852 |
||||
| 183,674 | ||||
| 183,772 33,721 |
||||
| 33,721 | ||||
| 33,721 144,977 |
||||
| 144,977 | ||||
| 144,977 6,000 |
||||
| 6,000 | ||||
| - | ||||
| - | ||||
| 2,880 | ||||
| 2,880 | ||||
| 113 286 - 325 - |
Page 14
The Bingham Trust Detailed Statement of Financial Activities
| Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
22 855 1,200 305 1,505 11,265 223,799 - (65,315) 52,700 (12,615) - (12,615) 176,974 164,359 |
- - - - - - - (57,899) (57,899) (52,700) (110,599) - (110,599) 6,243,006 6,132,407 |
22 855 1,200 305 1,505 11,265 223,799 (57,899) (123,214) - (123,214) - (123,214) 6,419,980 6,296,766 |
38 |
|---|---|---|---|---|
| 762 | ||||
| 1,200 317 |
||||
| 1,517 | ||||
| 11,159 | ||||
| 189,857 512,686 |
||||
| 506,601 - |
||||
| 506,601 - |
||||
| 506,601 | ||||
| 5,913,379 | ||||
| 6,419,980 |
Page 15