Charfty numbgr: 288575 THE BALNEY CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE BALNEY CHARITABLE TRUST CONTENTS Page Refgr8n¢e and administrative details of the Charfty. Its Truste•$ and advlser$ Trustees. rnport Independent examln•r's report Statement of f5nan¢ial actlvltles Balan¢e sheet Notes to the flnanclal statements 9-16
THE BALNEY CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE cHARY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trusiees Mr. Robert Ru¢k-Keene, Tnjslee Ms. Jill Heaton, Tntstee Mr. lan Townsend, Trustee Charfty reglstered number 288575 Principal offico Hill Farm North Crawlgy Road Newport Pagnell Bucklnghamshire MK16 9HQ Correspondont Mr. Robert Ruck-Keene Accountants MHA CharteTed Accountants 1 The Forum Minerva Business Park Lynch Wood Peterborough PE2 6FT Page 1
THE BALNEY CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together wlh the financial statements of tha The Balnay Charitable Trusl for the year 1 April 2023 to 31 March 2024. Objectives and activit1•$ Policies and objectives The Trust was esl8bli5hed on 10th October 1983 for the purpose of benefit or furtherance of such charitable purposes as the Trustees may, at their discretion. detefmine and, wthoul prejtJdi¢e to the generality of the foregoing, pay special regard lo- (al the furtherance of any religious and charitable purposes in connecb'on with the parishes of Chicheley, North Crawley and the SCAN Group, i.e. Sheringlor*, Asknd, Hardmead 8nd churches with a Chester family connecllon." Ibl the provision of housing for persons in necesslloL¢S circumstan$ on lerms appropriate to their means in Chicheley and th8 district thereof.. {cl agricultural. forestry and armed service charities of England; Idl care of the sick. elderfy and disabled from the Chicheley area., (el such other charitable purposes or objects as may be notified by the Settlor lo thg Trustees. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission re18ting to public benefit. including the guSdance 'Public benefit= running a charity IPB21'. b. Strategles for achlevlng oble¢tlv¢s To coll8Ct rerts from propety and after expenses lo make Charable donations in acwrdance whh the trust deed. c. Actlvltles undertak•n to achleve objectives To, during a properly recorded meeting of the Trustees, nominate and agree such national and local causes which, al the Trustees discretion, meet the objectives of the Trust and make cash donations lo these cavses. AchveM•nts and perforniance a. Revlow of actlvitl•s During the year the Trust has ieceivgd £208.428 {2023.. £164,085) in charitable trading income. incurred £87,786 {2023.. £60,634) in expenditure necessary for the raising of funds, and from the surplus engaged in direct charitable aclivilies, including the 9rant of funds ar such expenditure 85 necessary lo manage the charty. of £53,616 {2023.' £59,357}. Page 2
THE BALNEY CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal revoew a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable ftalure. For this reason, they continue lo adDPt the going concern basis in preparin9 the financrdl ststements. Furthgr detai15 regarding the adopts'on of the going concem basis can be found in the accoL¢ndng policies. b. Reserv•s poJl¢y The Trustees have recentty reviewed the Reservas Policy and have agreed a minirnum reserves v81ue of £100,000 to cover Ltnexpected malor property repairs OT minor tenant disputes. The value currently held in excess of the newly agreed Pollcy is under rèview by the trustees as to how to ulilise most effectively in line with the aims of the Trust. c. Flnanclal rlsk management objectives and pollcl¥$ The Trustees consider thal the Finanual Controls Currently In place are good and sufficient for the operation of the Trust. All payThents require iwo Tnjstees to aulhorise and no Trustee can commit the Trust financially on their own. There are litue or no cash Iransadions and all Tnjstees are made 8ware when cash has been received. Structure. govemance and managgmgnt a. Methods of appolntment or glectlon of Trusteos The management of the Charity is the reswnslbility of the Trustees who are elect¢d and ¢¢>opted under th8 terms of the Trust deed. Page 3
THE BALNEY CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Stknnenl of Trustees. responsibilitios The Trustees are responsttjle for preparing the Trustees, report and the slètements in aeeordance applicable law and United Kingdom Accounting St8ndaTds {United Kingdom Gonwalty Accepted Ac¢ouni(n9 Pra¢tic*l. The law applieable to charities in England & Wales requires the Trustees to pcepare finan¢iaS statements for e&th finonci81 ye8r which give a true and fall view of the stste of afvFS of the Charity and of its incoming resources and application of resouices, Induding MB coMe and expendiknre, for that perlod. In preparing these financial ststements, the Trustees are required to-. s¢l•ct suttable accounting policles and thèn apply them ¢ongi¥tonlly'. observe the methods and principles ofthe Chèriies SORP IFRS 1021., make judgmènts and acoounting estimates that afe reasonable and prudenL stale ¥thether applicable UK Accounbng Standards {FRS 1021 h4ve been followed, subjeGt to any material depariures disclosed 2nd explained In the fin8n¢ial ststernents., prepare tre financial statemetts on Ihe going b15 unless It Trs Inappropriato to pr8sume that the Charity 11 conbnue in business. The Trustees are responsible for keeng adequate #ecountlng records that are sufficient to show and explai the Charitys transactions and disclose vAlh re8Bonable accuracy at any time thè ffinaneial posstion of the Charity and enable them to ensure th81 the financial ststements comply the Charioes Act 2011. the Charty (A¢counts and Reports) Regulations 2008 and the provisions of the Twst deed. They are a150 responsible for safeguarifing the assets of the Charity and hence for taking reasonable step8 for the prevention and dete¢ts'on of fraud and other Irr8gulaTitI'e6. Approved by order ofthe members ofthe board of Tru8tees and signed on their behall by.. Mr. Robort Ruck4(eene (Trustee} D8te.10 &15 Poge 4
THE BALNEY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Ind¢p¢ndont examiner's report to the Trustoes of The Balney Charltablo Trust I'the Charlty) I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. Re$ponslbllltles and basls of report As the Twslees of the Charity you are responsible for the preparation of the accounts In accordance with the requlremenls of the Charities Act 2011 Ilhe 2011 Acfl. I report in respect of my examinallon of the Charivs accounts carried under section 145 of the 2011 Act and in carrying Out my examination I have followed the ap1¢able Dsrections gwen by the Charity Commission under secti¢)n 14515llb} of the 2011 Act. Page 5
THE BALNEY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Independent examlnef5 Statement Your attention is drawn to the fact thal the Charity has prepared the accounts in accordance with Accounting and RerK)rting by Char61ies'. Statement of Reeommended Practice applicable lo charities preparing their ac¢oLtnts in accordance with tho Financial Reporting Stsndard applicable in the UK and Republic ol Ireland IFRS 102} in preferenc8 to the Accounting and Reporting by Charities.. Statement of Recommended Practlce issued on 1 April 2005 which is referred lo in the extant regulations but has been withdrawn. l understsnd that this has been done In OTder for thè accounts to provide a true and fair view in accordance with the Generally Aepted Accountlng Practice effecbve for reportlng perlods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come lo rny attention in connection with the examination giving me cause to believe that in any matetial respect.. accounting records were rsol kept in respect of the Charity as required by section 130 of the 2011 Act.. or the accounts do not accord wlh those records: or the accounts do not Comply Mlh the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report51 Regulations 2008 other than any requirement that the accounts give 8 Irue and fairf view which is not a matter considered as part of an independent examinalS0n. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. This report Is made solely to the Charitys Trustees, as a body, in accordance with Part 4 of the Charfties (Accounts and Reports} Regulations 2008. My work has been undertaken so that I might slate to the Charitys Trustees those matters l am required to stale lo them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not ac¢epl or assume responsibility to anyone other than the Charity and the Charitys Trustees as a body. for my work or for this report. Signed.. Joe Spencer MHA Chartered Accountants 1 The Forum Minerva Buslness Park Lynch Wood Pelerborough PE2 6FT Dated.. lo TJ 25 FCA Page 6
THE BALNEY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 R8strtctèd fund$ 2024 Total funds 2024 Total funds 2023 Note Incorne from: Charitable activities 208.428 208,428 164,085 Total Income 208.428 208,428 164,085 Expendtturn on". Raising funds Charitsble activities Other expen(Siture 87,766 21,350 32.266 87,766 21,350 32.266 60,634 30,350 29.007 Total expendtture 141.382 141.382 119,991 Net movement In funds 67,046 67.046 44.094 R¢con¢lllatlon of funds: Total funds broLTrght forward Nel movement in funds 579,067 67.046 602.100 1,181.167 67.046 1,137.073 44.094 Total funds carrEed forward 646.113 802.100 1.248.213 1.181,167 The Statement of financial activities includes all gains and10sses recognised in the year. The notes on pages 9 to 16 form part of these financial statements. Page 7
THE BALNEY CHARITABLE TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Flxed a55ets Tanglble assets 796,SM 798.6S2 798,652 Current ass•ts Debtors 132,818 330.561 245,858 148,287 Ca8h at bank and In hand 463,179 394,145 Credltors.. amounts falling due Mthin one year 111.Sl01 (11.630) Net cunrnt assets 481,669 362,515 Totsl assets less current IlÈbilitlg5 1248.213 1,181,167 Net assets #xcliding pension Assel 1248,213 1.181,167 Total net 8¥sets 1,246,213 1,181,167 Charity funds Restricted funds Unrestricted fvnds 10 602.100 646.113 602.100 579,067 Total fvnds 1248,213 1,181.167 The finttnia&l statements were approved and authoFised for i8sue bythe Tru$tees and s¢ed on their behalf by.. ilt. Robèrt Ruck.Keene (Trusteel The notes on pages 9 10 16 form part ofthese financial statements. Page 8
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policias 1.1 Basls ol preparation of financSal stst&m&nts The financial slalements have beon prepared in accordance with the Charities SORP IFRS 102) AccoLnling and Repo.ng by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance th the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191. the Finan¢ial Reporting Standard applicable in the UK and RepblIC of Ireland IFRS 1021 and the Charities Act 2011. The financial statemènts have been prepared to give a 'lrue and fairf view and have departed from the Charities {Accounts and Reports) Regulations 2008 only lo the extent feqLtired lo provlde a Ifue and fairf view. Thls departure has involved followng the Charities SORP IFRS 1021 published in October 2019 rather than the Accounllng and Reporting by Charities= Stslemenl of Recommended Practice effective from 1 April 2005 whlch has since been withdrawn. The Balnoy Charitable Trust meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are inilialty recognised al historical cost or transaction value unless othefwse ststed in the relevant accounting policy. 1.2 Income l income is recognised once the Charity has enliuement lo the income. tt is probable that the income will bo received and the amount ol income receivable can be measured reliably. 1.3 Expendlturo Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic bonefits will be required in setuemenl and the amount of the obligation can be measured reliably. Expenditure is classified by acbvily. The costs of each activity are made up of the total of direct costs and shared costs, inc5uding support ¢0$15 involved in undertaking each activity- Direct costs attributable lo a single activity are allocated directly to that acliwty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single adivity are apportioned between those activities on a basis consislerl with the use of reSoUrs. Central staff costs are allocated on the basis of lime spent, and depciatiOn charges allocated on the poruon of the asset's use. Expendlture on raising funds indudes all 8xpendilvre incurred by the Charity lo ralse funds for Its charitable purposes and includes costs of all fLtndraising actNilies events and non-charilable trading. Expenditure on charitable 8¢livilies Is incurred on directly undgrtaking the activities vh)ich further th8 Charitys objectives, as well as any associated support costs. Grants payable are charged in the year Mthen the offer fs made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment. but not accrued as expendilufe. l expenditure is inclusive of irrecoverable VAT. Page 9
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng poll¢les IntInued) 1.4 Interest re¢elvable Interest on funds held on deposit is included when receivable and the amourtrt can be measured reliably by the Charity.. this is normally upon rtiriCall0n of the Interest pald or payable by the Inslilulion with whom the funds are dew)sited. 1.5 Tanglble flxgd assets and depreclatlon All assets relate to the acquisition and improvement of propety, and are capits1Ssed as advlsed by the firm providing Independent Examiner SeNs. Tangible fixed assets are initially recognised at cost. After recognib"on. undei the cost model. tangiblo ffixed assets are meaSud at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its inlende(J working condition should be included in the measurement of cost. Depreciation is charged $0 8$ to allocate the cost of tang&ble fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation Is provided on tho following bases.. Freehold propety Propety improvements Fixiures and fittings not depreciated 10¢A slraighl line 15.ts on wrillen do value 1.6 Debtors Trade and other debtors are recognised al the setuement amount aftar any trade discour)l offered. PrepayTnents are valued at the amount prepaid nel of any trade discounts due. 1.7 Cash at bank and In hand Cash at bank and in hand in¢ludes cash ond short-tsmi highly liquid investments with a short malurlty of three months or less from the date of acquisition or opening of the deposit or similar account. 1.8 Uabllltles and prov5$lon$ Liabiltltes are re¢ogni$ed when there is an obligation al the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settternenl, and the amount of the settlement tan be estimated reliably. Liabilities are recognised al the amount that the Charity anticipates it wll pay lo settle the debt or the amount it has received as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required to settle Ihg obligation. Wh8re the effect of the lime value of money is matarial, the provision is based on th8 prasenl value ol those atnounls, discounted at the pre-tsx discount rate that reflects the risks specilic lo the liability. The unwinding of the discount is recognised in the Statement of financial activilles as a finance cost. Page 10
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUnn9 poll¢les (continued) 1.9 Flnan¢Sal 5n$trument$ The Charity only has financial assets and financial liabilities of a kind th8t qualrfy as basic financial instruments. Basic financial instruments are initially re¢ognSsed at transaction valug and subsequently moasured at their settlement value with the exceplion of bank loans whlch are subs8quanlly measured al amortised cost using the effects've Interest rnelhod. 1.10 Fund a¢¢ountlng Gener81 funds are unreslricled funds which are avaSlable for use at the discretion of Ihe Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted fLtnds are funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raSsed by ihe Charity for particular purposes. The costs of raising and dministering such funds are charged against the specrfic fund. The aim 8nd u58 of each restricted fund is set out in the ftotes to the financial statements. Incom8 from charltable actlvltles Unrestricted funds 2024 Total funds 2024 Total funds 2023 Rental of Trust properties 208,428 208.428 164,085 Invostmgnt management costs Unrnstrlct•d fund$ 2024 Total funds 2024 Total funds 2023 Twsl property insufance Trust property repairs and malnlenance 9.427 78.339 9.427 78.339 7.929 52.705 87.766 87,766 60,634 Pag811
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of 9rant$ Donallon$ to Instltutions 2024 Total funds 2024 Total funds 2023 Don81ions to institutions 21,350 21,350 30.350 Other expendlturo Unrestrlcted nds 2024 Total funds 2024 Tsxal funds 2023 Managgment and adrninistrabon DepTlatIOn 30.158 2.108 30,158 2,108 26.858 2.149 32.266 32.266 29.007 Independent examlnorf$ remuneration The independent examinevs remuneration amounts to an indepandgnt examiner fee of £1.080 12023 - £1,350}. Page 12
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEPIIENTS FOR THE YEAR ENDED 31 MARCH 2024 Tangiblo fixed assets Freehold Property Fixturè$ and property improvements fltting5 Total Cost Al 1 April 2023 785,848 18.764 2,960 807.572 Al 31 March 2024 785,848 18,764 2.960 807,572 Depreclatlon Al 1 April 2023 Charge for the year 7.505 1.876 1,415 232 8.920 2,108 Al 31 March 2024 9,381 1.647 11,028 Net book value At 31 March 2024 785,848 9.383 1,313 796,544 Al 31 Mar¢h 2023 785,848 11.259 1,545 798,652 Dobtors 2024 2023 Trade debtoi$ Prepayments and accrsjed income 132.618 236.464 9.394 132,618 245,858 Cr¢ditor5- Amounts falllng duè wlthln one year 2024 2023 Accwals and deferred income 11,510 11.630 Pa9e13
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Statement of funds Statemènt of lundts - current year Balanc• at 31 March 2024 Balance at 1 Aprll 2023 Income Expendlture Unrestricted funds General Funds- all fvnds 579.067 208.428 {141,3821 646.113 Restrlctod fund5 Restrfcted FUrS - all funds 602.100 602.100 Total of fund$ 1,181,167 208,428 1141,3821 1,248,213 stat•mènt of funds - prior yoar Balance at 31 March 2023 Balance al 1 April 2022 Income Expenditure Unrostrl¢ted funds General Funds - all funds 534.973 164.085 1119.9911 579,067 Restricted fund$ Restricted Funds- all funds 602,100 602.100 Total of funds 1.137,073 164,085 1119.9911 1,181,167 Page 14
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Summary of funds Summary of lunds- current y••r Balan¢0 at 31 March 2024 Balance at 1 Aprll 2023 Incomg Expendlture General funds Restricted fLFnds 579.067 602.100 208.428 (141,3821 646.113 602.100 1,181.167 208,428 1141.3821 1.248,213 Summary of fund$ - prior yèar Balance al 31 March 2023 Balance al 1 April 2022 Income Expenditure General funds Restricted fvnds 534.973 602,100 164,085 1119,9911 579.067 602.100 1,137,073 164.085 1119.9911 1,181,167 Page15
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Analys1$ of net assets botwe•n funds Analysis of net assèts between funds - curr¢nt period Unre$tri¢ted Restricted tunds fund$ 2024 2024 Total funds 2024 Tangible fixed as5els Curyent assets Creditors due within one ye8r 194,444 463.179 111.5101 602.100 796.544 463.179 (11.5101 Total 646,113 602.100 1.248,213 Analysi$ of net assets between fund$ - prlor perlod Unre5tricled funds 2023 R9Stri¢led funds 2023 Total funds 2023 Tangible fixed 8sse15 Current as5els Creditors due within one year 196,552 394,145 111.6301 602.100 798,652 394,145 (11,630) Total 579,067 602,100 1,181.167 13. Contingent Ilabllities The Trust currently has potential liabilities of £2,200 resulting from disputes arising in the wurse of ils income generating activities, however il is the opirtrion of the Trustees that the likelihood of such liabilities becoming payable is minimal, anil the economic impact of such liabilities 13 covered Sufficiently by the existing Reserves Policy. Page 16