Charlty number: 288575 THE BALNEY CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE BALNEY CHARITABLE TRUST CONTENTS Pag8 Reference and admlnlstrative detalls of the Charlty. Its Trustéés and advlsers Twsteos. rèport Independent •xamln•rfs report Statomfjnl of financlal avItIeS Balance sheet Notes to thg Ilnanclal statements 9-16
THE BALNEY CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Mr. Robert Ruck-Keene. Trustee Ms. Jill Heaton. Trustee Mr. Ian Townsend. Trustee Charity fegisteved number 288575 Prin¢lpal offic• Hill Fami North Crawley Road Newport Pagnell Buckinghamshire MK16 9HQ Correspondent Mr. Robert Ruck-K99ne Accountants MHA Chartered Accountants 1 The Forum Minerva Business Park Lynch Wo(Ml Pelerborough PE2 6FT Page 1
THE BALNEY CHARtfABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the fin8ncial statements of the The 88lney Charitable Trust for the year 1 April 2024 10 31 March 2025. Oblectlv•$ and activities a. Pollcles and oblectlves The Trust was estsblished on 10th October 1983 for the purpose of benefit or futherance of such charitable PLtrposes as the Trustees may, al thelr dSscrelion. determine and. wilhoul prejudice to the generality of the foregoing, pay special regard lo.. {a) the furtherance of any religioLts and charitsble purposes in connection with the parishos of Chicheley, North Crawley and the SCAN Group. i.e. Sherington, Astwood. Hardmead and thurches wlth a Chester family connection., Ibl the provision of housing for persons in nec8ssltous drcumstan5 on terms appropriate lo their means 111 Chicheley and the district thereot.. Ic) agrlcultural. forestry and armed S8Nlce charities of England., Idl care of the si¢k, eld8dy and disabled from the Chicheley aroa., {el such olher charitable purposes or objects as may be notified by the Setuor lo the Twstees. In setb'ng objectives and planning for 8¢t¢vities, the Trustees have given due consideration to general guidance published by th8 Charity Comm18sion relating to public benefit, including the guidance 'Public benefit.. njnning a charity IPB21'. b. Strategle$ for achl•vlng objectives To collect rents from property and after expenses lo make charrtable donatior*s in accordance th the trust dg9d. c. A¢tlvltle$ undertaken to a¢hlev¢ obkclivey To, during a properfy recorded meeting of the Trustees. nominate and agree such national and local couses which. at the Trustees dlscrelion, rneel the objectives of the Trust and make cash donations to these causes. Achlevomonts and perfomian a. Rovlew of actlvltles During the year the Trust has recelved £230,67812024.. £208.4281 in charitsble Irading incowne, incurred £67,632 12024.. £87,766) irs expenditure necessary for the raising of funds, and from the surplus engaged in direct charttable adivitses, including the grant of funds an(J such expenditure a5 necessary lo manage the charity, of £96.635 {2024.. £53,616). Page 2
THE BALNEY CHARITABLE TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal revlew •. Golng concern Aftèr making appropiiale enquSries, the Trustees have a Teasonable expectation that the Charty has adequate resources lo continue in operational exlslence for the foreseeable future. For Ihls reason, they continue lo adopt the going concern basi5 in prgparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Res•rves poll¢y The Trustees have recenuy reviewed the Reserve5 Policy and h8ve agreed 8 minimum reserves value of £150,000 lo cover unexpected maior property repairs or minor tenont dispuleg. The value currgnlly held in excess of the newly agreed Pdicy is urider revigw by the tn¢slees as lo how lo ulilise most effectively In line with the aims of the Trust. c. Flnanclal rlsk management oblectlves and policies The Trustees consider that the Finan¢Èal Controls currenuy in place are good and sufficient for the operation of the Trust. All payments require two Trustees lo authorise and no Trustee can commit the Trust financially on their own. There are little or no cash transactions and all Tiuslees are made aware when cash has been reived. Stru¢tureJ govtmance and management a. Meth¢)ds of appointment or ele¢tlon of Trustees The management of Ihe Charlty Is the responsibillty of the Twstses are elected and co-opted under the terms of tho Trust deed. Page 3
THE BALNEY CHARrrA8LE TRUST TRUSTEES. REPORT (cofrifiNUEDI FOR THE YEAR ENDED 31 MARCH 2025 Statemont of Trusts•#' rnsponslblllti The Twstees are responsblo ft)r preparing the Trustees, repjt aThJ the financial ststemgnts In accordance wllh ar4)li¢able law and United Ifjng(%C Awounting Standards (United Kingdom GènÈplly A¢c¢pled Acc¥)unting Practice). The appltcable to ¢hath$ in England & Wales requires the TrustEes to Prer frJanch¥l statemtrnts lor each financtal year whl¢h give a true and fair wew of stste of 8ff8irn of th? Charity and 01 hs wmming resources and Bpplication of Te80urces, inchjding its Inme ond exPditY, for that perN)d. In prepallng these rinanaal statements. the Trustees are wuired trj: select surtable accounting polirjes and then appty them ¢onsistendy, observe th¢ methods and principles of the Charitie3 SORP IFRS 102),. make judgmontg and accounting estimates that aro reasonable and prudent. stsle whether appThcable UK A¢¢ounling Standards IFRS 1021 have been followed. subj'ect to any materi d8P8rture8 disclosed and explalned In tho finanaal 3tstements', prepare thè financlal statements on Ihe golng ¢oncom basts unfe$s rt ig inapproprHts to pre8urne that the Charity will conb.nue in J61ness. Th? Truylees are re8ponble for keeping aduate accounting records that are sufficient to show and explain the Charivs transa)n$ and dl$do¥g with reasonable accuracy at any time the financtAI posilion of the Charity and ¢nablp them to ensure th81 thè fin8n¢ial statements compty vthh Ihe Charities Act 2011. the Charity (Accounts and Reports) Regulg1ion$ 2008 and the wovisions of the Trust deed. They are elso re$ponsibte for ¥afegu8rding the assets ofth¢ Charity and hence for taking a9)nable steps for the prevention and dotection of fraud and other TegorIt*$. roved by order ofth¥ members of the Ixjard ofTrustees and signed on their b&haif by.. Mr. Robort Ru¢k•en0 Jsteel (p Pag8 4
THE BALNEY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Ind•pgnd$nt ¢xarniner's report to the Trustees of The Balngy Charttable Trust I'the Charltyl l port to the charity Trustees on my examination of the accounts of the Charity for the yoar ended 31 March 2025. Ro$pon$lbllltles and basls of report As the Trustees of the Charity you are responsiblo for the preparation of thg accounts in accordance with the requlremenls of the Chwities Act 20111.lhe 2011 ACVI. I report in respect of my examination of the Charrtls accounts carried out under section 145 of the 2011 Act and in Carrying out my examination I have followed the appIlble Difeclions given by the Charity Comm15sion under section 14515llbl of the 2011 Act. Page 5
ThE BALNEY CHARABLE TRUST INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Ind¢pendent exam¥neVs Statement Your allenlion is drawn to the fact that the Charty has prepared the accounts in accordance with Accounting and Reporbng by Charities.. Statement of Recommended Practice applicable lo charilieg preparing their accounts in accordance with the Financial Reporting Standard applicable in lh8 UK and Republi¢ of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities: Statement of Recommended Practice issued on l April 2005 which is referred lo in the extant regulations bul has been withdrawn. l undorsland that thi8 has been done in order for the accounts to provide a lrne and fair view in accordancg With th9 Generally Accepted Accounting Pradice effective for reporttng perlods beginning on or after 1 January 2015. I have completed my examination. I confirm that matters have como to my attention in connectlon wtih the examination giving me cause lo believe that in any material respect: accounting records were not kept In respect of the Charity as qUired by section 130 of the 2011 Act., or the accounts do not accord those records,. or the accounts do not comply the applicable requirements concerning the form aNJ u)nlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no cr)nrn$ and have come across no other mallers in connection wth the examination lo which attention should be drawn in this report in order to enable a proper Ltnderstsnding of the accounts to be reache(l. Thls report is made solely lo the Charitls Trustees, as a body, in accordance with Part 4 of the Charities {Accounls and Reports) Regulations 2008. My work has been undertaken so that I mlghl state to the Charitys Trustees those matters l am required to stste to them in an Independent examineVs report and for no other purpose. To the fvllest extent pemiitted by law. I do not accept or assumg responsibillty to anyone other than the Charity and the Charitys Trusleos as a body, for my Work or for this report. Signed: Joe Spencer MHA Chartered Accountants 1 The Forum Minerva Business Pat1( Lynch Wood Peterborough PE2 6FT Dated.. FCA MHA is the tradlng name of MHA Advisory Ltd, a limited company registered in England and Wales Icomparsy registration number 162337461- Page 6
THE BALNEY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Restricted funds 2025 Total fund$ 2025 Total funds 2024 Note Income from: Charitable acllvilte5 230.678 230.678 208.428 Total Income 230,678 230,678 208.428 Expenditure on: Raising funds Charitable activities Other expenditure 67.632 27,350 69.285 67.632 27,350 69.285 87,766 21,350 32.266 Total expenditur• 164,267 164,267 141.382 Not movoment In funds 66,411 66.411 67.046 Rec¢nclllatlon of funds: Total funds brought forward Net movement in funds 646.113 66,411 602,100 1.248.213 66.411 1.181.167 67.046 Total funds ¢arrled forward 712,524 602,100 1,314,624 1,248,213 The Stalgm8nt of financial adiviEies Includes 811 gains and losses rec(¥Jnised in the year. The notes on pages 9 to 16 fom) part of these financial statements. Page 7
THE BALNEY CHARITABLE TRUST BALANCE SHEET AS AT 31 IAARCH 2025 2025 2024 Not$ Flx•d ass•ts Tangible Assets 1.018.646 798.544 1,D18.646 798,544 Cunent assots Debtors Cash at bank and in hand n,70B 235.363 132.618 330.561 309.on 463.179 Curront liablliti Creditors". amounts falling due within on year {13.0941 111,510) Nèt ¢UffOnt *ss•ts 295.978 451,e69 Total assèts l•#$ currnnt Ilabtiit 1.314.624 1.248.213 Net a$t¥ •xcludlng pon¥lon a¥¥èt 1.314.624 1,24B,213 Totsl not as8et8 1.314.824 1,248,213 Charlty funds R¥stri¢ted fiJnd$ Unrestrtcted fvnd5 10 10 602.100 712.524 602,100 646,113 Total funds 1,314.624 1,248,213 Th¢ financial statements wtrrs approved and oukn)rise(I foT issug by the Trustsès and stgn8d on theÉr bthaw by. Mr. Roiiert Ruck4(eeng (Trustee) It The notes on pages 9 to 16 fomi p8rt of these financial statemont$. Page 8
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting policies 1.1 8asls of pr8paratlon of financlal $tstements The financial statements have been prepared in accordance with the Charlties SORP {FRS 1021- Accounting and Reporting by Charities.. Statemont of Recommended Practice applicable to ¢harilies preparing Iheir accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) leffeclive 1 January 2019), the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 and the Charities Act 2011. The financial slalements have been prepared to give a 'true and fair. view and have departed from the Charities {Accounts and Reports) Regulations 2008 only lo the extent required lo provide a 'lrue and fairf wew. This departure has Involved following the Charities SORP IFRS 1021 published in October 2019 ralhor than the Accountin9 Reporting by Charities.. Staternenl of Recommended Pract&ce effactivg from 1 April 2005 which has since been wlthdrawfi. The Balney Charitable Tnjst meets the definition of a publi¢ benefit enllty undèr FRS 102. Assets and Ilabilities are initially recognise(J al historical cost or transaction value unless oth&rwise slated in the relevant accounting policy. 12 Income All income is recognised once the Charity has entitlement to thg income, 11 is probable that the income will be received and the amount of income receivable be measured reliabty. 1.3 Expondlture Expenditure is recognis9d once there is a legal or constructive obligation lo transfer economic benefit to a third paty. it is probable that a transfer of economic benofits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 classified by actiwty. The costs of each activity are made up of the lolal of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allated directly to that activity. Shared costs which contribute lo more than one adivity and support costs which are not attributable lo a single adivity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff Costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expendllure on raising fvnds indudes all expenditure Incurred by the Charity to raise funds for ils charitable purposes and Includes cost8 of all fUrraisIng activiJes events and non-char51able tradlng. Expenditure on charitsble activities is incurred on directly undertaknng the acliviligs which fvrthor the Charitys obledves, as well as any associated support costs. Grants payable are charg¢d in Ihe year when the offer is made except in those cases where the offer is condrbonal. such grants belng recognised as expenditure when the conditions attaching are fulfill. Grants offered subject lo conditions which have not been met al the year end are noted as a commitment, but not accwed as expenditure. All expenditure is inclusive of Irrecoverable VAT. Page 9
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng polScles (contlnuedl 1.4 Int¢ro$t receivable Interest on funds held on deposit is included when receivable and the amount C8n be me8SUTed reliably by the Charity,. this is normally upon notification of tho interest paiij or payable by the inst4tuts.on with whom the funds are deposited. 1.5 Tan9lbl8 Ilxed assets and depr8clatlon All assets relate lo the acquisition and improvement of property, and are capltallsed a5 advised by the film providing Independent Examiner services. Tangible fixed assets are initially recognised at cost. After recognition. under the cost model, tangible fixed asstrts are measufed at cost less a¢¢umulaled depreciation and any accumulated impaimenl 105ses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be included in the measvremenl of cost. Oeprecialion is charged so as to allocate the cost of tangle fixed a$sels less their sIdual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases.. Freehol(i property Property improvements FlxtL*res and fith'ngs not depreeialed 100A straght line 150kn on wrftten down value 1.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade disUnt offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-lemi highly liquid investments with a short maturfty of three months or less from the dato of acquisllon or opening of the deposit or similar account. 1.8 Llabllltles and provlslons Liabilibes are recognised when Ihere is an obllgalion al the Balance sheet date as a fesull of a past event, tt is probable that a tsansfer of economic benefit will be required in settlement, and the amount of the Settlement can be estimated reliably. Liabilibes are recognised al the amount that the Charity anticipates il wll pay to settle the debt or the amount it has received as advanced payments for the goods OT services il must provide. Provisions are measured at the best estimate of the amounts required lo settle the ob15gation. Whore the effect of the kn.me value ol money is material. thè provision is based on the present value of those amounts, discounted al the pre-tax discount rats that reflects the risks speafic to the liability. The unwlnding of the dlscount is recognised in the Statement of financial activities as a finance cost. Page 10
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢countlng pollcles (continu•dl 1.9 Flnanclal Instruments The Charity only has financtal assets and financtal liabilities of a kind that quallfy as basic financial inslNmenls. Basic financial instrufflenls are initially recognised al transaction value and subseqLtenlly measured al their settlement valLte with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.10 Fund accountlng General funds ale unreslricled funds which are available for use at the discrellon of the Trustees in furtherance of the general obsgctivgs of th& Charfty and which hav¢ not boon designated for other purposes. Reslricled funds are funds which are lo used in ècts)rdan wth specific restrictions imposed by donors or which have been raised by the Chadty for particular purposes. The costs of raising and administering such funds are tharged against the specific fLtnd. The aim and use of each restricted fund is sel out in the notes to the f5nancial stalemenls. Income from charftable actlvltles Unrgstrlcled funds 2025 Total funds 2025 Total funds 2024 Rental of Trust properties 230,678 230.678 208.428 Investment managomgnt co$t$ Unrestricted funds 2025 Total funds 2025 Total funds 2024 Twst propety Insurance Trust propety repairs and MainternCe 15,975 51,657 15.975 51.657 9,427 78.339 67,632 67,632 87.766 Page11
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCJAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysi$ of grants Donations to Institutions 2025 Total fund$ 2025 Total funds 2024 Donations to in51ilulions 27,350 27.350 21,350 Oth•r expenditure Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Management and administration Oepreciatlon 60,097 9,188 60,097 9,188 30,158 2.108 69.285 69,285 32.266 Independent examlnefs remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £1,08012024 £1,080). Page 12
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Tangible fixed assets Freehold Property Flxtures and property lrnprovements flttlngs Total Cost At 1 April 2024 Addtllons 785,848 18.764 231.290 2,960 807.sn 231.290 At 31 M?h 2025 785.848 250.054 2,960 1,038,862 Depreclatlon At 1 April 2024 Charge for the year 9,381 8.991 1.647 197 11,028 9.188 At 31 March 2025 18.372 1,844 20.216 Net book value Al 31 March 2025 785.848 231,682 1.116 1,018.646 At 31 March 2024 785,848 9.383 1,313 796,544 Debtors 2025 2024 Trade debtors 73.709 132.618 Cfedltors: Amounts falllng due wllhln one year 2025 2024 Accwals and deferred income 13.094 11,510 Page 13
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balan¢e at 1 Aprll 2024 Income ExpendÈtuTe Unrg$trlcted funds General Funds- all funds 646,113 230,678 1164.267 712,$24 Rastrl¢t•d funds Restricted Funds- all funds 602.100 602,100 Totsl of funds 1,248.213 230.678 (164,2671 1,314,624 statèment of funds - prior year Balance al 31 March 2024 Balance at 1 AprS12023 Income Expenditure Unr•strl¢ted funds General Funds- all fvnds 579.067 208.428 {141.3821 646,113 R•stri¢ted funds Reslrlcled Funds- all funds 602.100 602.100 Totsl of funds 1.181.167 208,428 1141,3821 1.248.213 Page 14
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Summary of funds Summary of funds - current year Balance at 31 March 2025 Balance at 1 Aprll 2024 In¢ome Expenditure General funds Restricted funds 646.113 602,100 230,678 {164,2671 712.524 602.100 1.248,213 230.678 {164,2671 1,314,624 Summary of funds- prior year Balance al 31 March 2024 Balance at 1 April 2023 Income Expenditure GeneTal funds Reslricled fiJnds 579,067 602,100 208.428 (141.3821 646,113 602.100 1,181,167 208,428 1141,3821 1.248.213 Page 15
THE BALNEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Anal1$ of net assats b•tw¢en funds Analysi$ of net assets between tund$- ¢urrent year Unrestri¢t•d Restrl¢ted funds funds 2025 2025 Total fund$ 2025 Tanglble fixed assets Current assets Creditors due within one year 416,546 309,072 113.0941 802,100 1,018.846 309,072 (13.094) Total 712.524 602,100 1.314.624 Analysls of net a$5ets botwoon fund$- prior yèar Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixefj assets Current as5els Credltors due within one year 194,444 463,179 {11.510) 602.100 796,544 463.179 111.510) Total 646,113 602.100 1.248.213 13. Contlngent Ilabilitle5 The Trust currently has potential liabilities of £2,200 resulting from disputes aiising In the course of ils income generating activities, however it is the opinion of the Trustees that the likeliht)od of such liabilities becorning payable is minimal, anil the economic impact of such liabilities 15 covered sufficiently by the existing ReseNes Policy. Page 16