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2023-08-31-accounts

Charity number 298035

BRISTOL INTERNATIONAL TRUST

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 August 2023

BRISTOL INTERNATIONAL TRUST

CONTENTS

Page
Reference and administration details 3
Trustees’ Report 4
Independent Examiner’s Report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11-17

2

BRISTOL INTERNATIONAL TRUST

REFERENCE AND ADMINISTRATION DETAILS

Trustees S North Chair until 20 June 2023 J Appleton Chair from 20 June 2023 A Street C Rogers L Mason E Champion-Howard C Wedlake appointed January 2023, resigned December 2023 J Wall appointed January 2024

Charity number 298035

Principal office 45 Woodland Road Clifton Bristol BS8 1UT Bankers Natwest PLC 40 Queen’s Road Clifton Bristol BS99 5AD

Independent examiner E Clements 29 Pynne Close Stockwood Bristol BS14 8QW


3

BRISTOL INTERNATIONAL TRUST

TRUSTEES' REPORT

YEAR ENDED 31 AUGUST 2023

The Trustees present their annual report together with the financial statements of Bristol International Trust (the charity) for the year ended 31 August 2023. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Charity Commission’s ‘Statement of Recommended Practice: Accounting and Reporting by Charities’ applicable to charities preparing their accounts in accordance with FRS102.

The charity also trades under the names Bristol International Student Centre and BISC.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. CONSTITUTION

The charity was registered on November 27th, 1987. The Trust Deed was amended on May 18th, 2015. Its charitable objects are 'To advance the christian faith among people of all nations. To relieve poverty, need, hardship and distress.'

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

Recruitment and appointment of new Trustees is by nomination, where each new Trustee shall be required to assent in writing to the doctrinal basis of the charity prior to his or her appointment.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The organisation and running of Bristol International Trust is the responsibility of the Trustees. The Trustees employ a Director, a Manager and two Administrative Assistants who undertake the day to day business of the Trust.

Bristol International Trust is very grateful for the large number of volunteers who assist with the organisation of trips and events, maintenance of the property and who participate in the Local Link scheme, offering hospitality for students in their homes.

e. RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.


4

BRISTOL INTERNATIONAL TRUST

TRUSTEES' REPORT

YEAR ENDED 31 AUGUST 2023

OBJECTIVES AND ACTIVITIES

POLICIES AND OBJECTIVES

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance on the objectives and activities mentioned below.

The objects of the charity are;

To advance the Christian faith among people of all nations.

To relieve poverty, need, hardship and distress.

ACTIVITIES

Welcoming international students on arrival in the country. Organising trips to introduce students to the culture of the UK and the south west.

The running of a ‘Local Link’ scheme to introduce international students to local Christian families. Running discussion groups and other events for international students to investigate the Christian faith.

Running social events throughout the year to further welcome international students, and provide social benefits.

ACHIEVEMENTS AND PERFORMANCE

GOING CONCERN

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. The trustees are confident that the charity can continue for at least the next twelve months. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

ACTIVITIES

Our activities for 2022/23 started with our Welcome Meals. We ran meals over six evenings this year, and served 306 meals over the six evenings. There was a lovely atmosphere, and lots of good conversations.

During the Autumn term, we relaunched our weekly lunch- a hot meal on Wednesday - which ran for the whole academic year. In addition we ran a number of Friday evening social events, all aimed at helping the students meet one another and building a sense of community and belonging.

With our new emphasis on faith-sharing this year, we launched a new Friday Fellowship, with an international faith focus.

Friday social events have proved popular this year, providing an opportunity for students to make friends, and escape studies for a while.

Our weekend trips have centred on showing our students more of the surrounding area. We've visited Clevedon and Chepstow, Bath Christmas market, and several churches have hosted meals and activities including inviting us to their church service on a Sunday.

Staff and Volunteers

At the beginning of September we welcomed Evan Botwood, our new Centre Manager. His first week was Welcome week, so he was very much 'in at the deep end' from the beginning. We are grateful for his calm reassuring nature, especially during busy times.

We are incredibly grateful to our volunteers who come to cook for us and lead outings, our Local Link hosts, our church partners who pray for us and host events… BISC really wouldn't be BISC without them!


5

TRUSTEES' REPORT

BRISTOL INTERNATIONAL TRUST

YEAR ENDED 31 AUGUST 2023

Weekly events

We continue to serve many students each week, sometimes as many as 50 attending an individual event. We have an accomplished cook on the team who has produced quality international recipies with student and other volunteers. Friday night socials have included trips to the ice cream parlour, Bonfire and Pancake Night celebrations, Bubble Tea nights and feasts for Christmas and Chinese new Year. They have all been wellsupported with around 30 students at most events, and the ‘family feel’ that we have been aiming to create has been well-received.

In addition to the weekday events, we have enjoyed a number of trips around the area including Clevedon, Bath and Chepstow. We have avoided expensive travel costs by keeping the groups small and using team/volunteers with cars for travel or travelling by bus. Our partner churches, have also hosted events for us, which have been extremely popular. As well as being great tourist experiences for our students, the trips have been fruitful in terms of relationship-building.

Christian content

Our Alpha course, run in partnership with Woodlands Church, ran from January to March and was joined by a group of around 8 students.

We launched Friday Fellowship at the beginning of the year, with an international faith focus, a low-key Bible study for students with a Christian faith and those exploring faith. This started small, and has a faithful following week by week.

Local Link

We were delighted to be able to offer Local Link again from late Autumn. We currently have around 9 students being hosted through the scheme and we will shortly be actively recruiting for more host families to meet demand. This included hosting 15 students on Christmas day.

Tenants

All eight bedrooms have been let during the year, with a good mix of students from different parts of the world and different faith groups. As the building work continued towards the end of the year, students prepared to leave once their studies were complete. We have been able to support some of them through difficult situations, and they have been a highly-valued part of the BISC community.

Building

Work was planned to ensure the building remains within current building and fire regulations. This was started during the year, and will be completed before the end of 2023. We also have a great team of maintenance volunteers who help us with minor repairs, and maintaining the garden.


6

TRUSTEES' REPORT

YEAR ENDED 31 AUGUST 2023

BRISTOL INTERNATIONAL TRUST

INVESTMENT POLICY AND PERFORMANCE

The trust deed places no restrictions on the investment powers of the trustees.

FINANCIAL REVIEW

We ended the year with a surplus of £43,141 (2022: £2,912). Some of this will however be spent to complete the building work in the tenants' flat. Income was increased over last year, and we are very grateful to those churches, charities and individuals who have donated towards this work.

The building work meant that some of our tenants left before the end of the year, so rental income was reduced.

Expenditure increased this year, mainly as our new Centre manager joined at the start of the year. The charity has managed to maintain other expenses at a similar level to last year.

RESERVES POLICY

The charity has a policy of holding six months' expenditure in free reserves (i.e. net current assets held in nondesignated unrestricted funds) to cover unforeseen liabilities. The Trustees consider that this is appropriate in order to ensure that no financial reliance is placed on the voluntary income that the Trust receives in a given year, which itself cannot be guaranteed. At the end of the year under review the charity had free reserves of £2,602 (2022: £86,619) which was £39,898 below the target of £42,500, being six months' worth of expenditure. This reduction in reserves is as a result of the renovation of the property. The trustees are hoping to increase funds over the next few months, once the building work is complete.

This report was approved by the Trustees on 20 June 2024, and signed on their behalf by:

J Appleton, Chair


7

BRISTOL INTERNATIONAL TRUST

INDEPENDENT EXAMINER'S REPORT

YEAR ENDED 31 AUGUST 2023

I report on the financial statements of the charity for the year ended 31 August 2023 which are set out on pages 9 to 17.

This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

Elaine Clements

Date

20 June 2024


8

BRISTOL INTERNATIONAL TRUST

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2023

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income/expenditure
Transfers between funds
12
Total funds at 1 September 2022
Total funds at 31 August 2023
12
Unrestricted
Restricted
Total Funds
Funds
Funds
2023
£
£
£
80,991
-
80,991
7,848
-
7,848
39,755
-
39,755
52
-
52
Total Funds
2022
£
22,363
5,993
47,383
2,500
128,646
-
128,646
78,239
85,505
-
85,505
75,327
85,505
-
85,505
75,327
43,141
-
43,141
-
-
463,501
-
463,501
2,912
-
460,589
506,642
-
506,642
463,501

Prior year fund comparatives can be seen in note 15

The notes on pages 11 to 17 form part of these financial statements


9

BRISTOL INTERNATIONAL TRUST

BALANCE SHEET

AS AT 31 AUGUST 2023

Note
Fixed assets
Tangible assets
9
Current assets
Investments: Loan stock
Debtors
10
Cash at bank
Creditors:
Amounts falling due within one year
11
Net current assets
Net assets
Income funds
Unrestricted funds
Free reserves
13
NBV of fixed assets
13
Total unrestricted funds
Total funds
2023
£
504,040
-
1,515
23,217
24,732
(22,130)
2,602
506,642
2,602
504,040
506,642
506,642
2022
£
376,882
50,000
5,624
54,165
109,789
(23,170)
86,619
463,501
86,619
376,882
463,501
463,501

These financial statements were approved by the trustees on 20 June 2024 and are signed on their behalf by:

J Appleton, Chair of trustees

The notes on pages 11 to 17 form part of these financial statements


10

BRISTOL INTERNATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

1 Accounting policies

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity meets the definition of a public benefit entity under FRS102.

The accounts have been prepared on the going concern basis. The Trustees know of no material reason why this should not be appropriate.

Income from donations is included in income when it is receivable, except as follows:

Gifts in kind includes donated services and facilities which are recognised at a reasonable estimate of the amount the Charity would be prepared to pay for such items. An equivalent amount has been included as expenditure under the appropriate heading in the Statement of Financial Activities.

Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

Where support costs cannot be allocated directly to charitable activity of the charity, they are allocated between the activities of the charity on a basis consistent with use of the resource. All expenditure is inclusive of irrecoverable VAT.

All fixed assets 25% reducing balance

Freehold property is not depreciated as the trustees consider that the property's carrying value in the accounts is not materially different from its residual value.


11

BRISTOL INTERNATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

2 Donations

Donations
Gift aid reclaimed
Unrestricted
Funds
£
80,716
275
Restricted
Funds
£
-
-
Total Funds
2023
£
80,716
275
Total Funds
2022
£
22,088
275
80,991 - 80,991 22,363

In 2022 all income from donations was unrestricted.

3 Income from Charitable Activities

Trips, activities and lunches Unrestricted
Funds
£
7,848
Restricted
Funds
£
-
Total Funds
2023
£
7,848
Total Funds
2022
£
5,993
7,848 - 7,848 5,993

4 Other Trading Activities

Other Trading Activities
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2023 2022
£ £ £ £
Rental income 39,755 - 39,755 47,383

In 2022 all income from Other trading activities was unrestricted.


12

BRISTOL INTERNATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

5 Expenditure on Charitable activities

Direct costs
Costs of trips and activities
Welcome
Wages and salaries
Employer's Pension contributions
Staff costs
Support costs
Office expenses
Maintenance costs
Building expenditure
Depreciation
Unrestricted
Funds
£
3,851
2,313
56,376
1,695
393
15,120
3,156
1,492
1,109
Restricted
Funds
£
-
-
-
-
-
-
-
-
-
Total Funds
2023
£
3,851
2,313
56,376
1,695
393
15,120
3,156
1,492
1,109
Total Funds
2022
£
5,383
2,552
46,843
1,308
970
11,683
3,939
1,169
1,480
85,505 - 85,505 75,327

There were no governance costs in either 2023 or 2022.

All expenditure for both 2023 and 2022 was from Unrestricted funds.

6 Net income for the year is stated after charging:

2023 2022
£ £
Depreciation 1,109 1,480
Pension costs 1,695 1,308
7
Staff costs and numbers
The aggregate payroll costs were:
Wages and salaries
Social security costs
Employer's pension costs
2023
£
56,376
-
1,695
2022
£
46,843
-
1,308
58,071 48,151

13

NOTES TO THE FINANCIAL STATEMENTS

BRISTOL INTERNATIONAL TRUST

YEAR ENDED 31 AUGUST 2023

7 Staff costs and numbers (continued)

No employee received emoluments of more than £60,000.

No trustees have been remunerated or reimbursed for their out of pocket travel expenses (2022: Nil)

The trustees consider themselves to be the key management personnel of the Charity, and as such have received no remuneration. Key management personnel includes the charity trustees (who are not remunerated for their role as trustees) and the charity director. The total benefits, including employer's national insurance contributions and employer's pension contributions payable to key management personnel during the year were £16,277 (2022: £16,316).

The average weekly number of employees based on average headcount during the year was as follows:

2023 2022
No. No.
Administration 4 4

8 Taxation

The Charity is exempt from corporation tax on its charitable activities.

9
Tangible fixed assets
Cost
At 1 September 2022
Additions
At 31 August 2023
Depreciation
At 1 September 2022
Charge for year
At 31 August 2023
Net book value
At 31 August 2023
At 31 August 2022
Freehold
Property
£
372,442
128,267
£
29,147
-
Equipment
£
19,363
-
Office
equipment
Total
£
420,952
128,267
500,709 29,147 19,363 549,219
-
-
25,845
825
18,225
284
44,070
1,109
- 26,670 18,509 45,179
500,709 2,477 854 504,040
372,442 3,302 1,138 376,882

14

BRISTOL INTERNATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

10 Debtors

Other debtors and prepayments
11 Creditors: amounts falling due within one year
Other loans
Other creditors
12 Movement in funds
1 September
2022
Income
Year ended 31 August 2023
£
£
Unrestricted funds
Free reserves
86,619
128,646
NBV of fixed assets
376,882
-
Total funds
463,501
128,646
Prior year
1 September
2021
Income
Year ended 31 August 2022
£
£
Unrestricted funds
Free reserves
88,773
78,239
NBV of fixed assets
371,816
-
Total funds
460,589
78,239
Other debtors and prepayments
11 Creditors: amounts falling due within one year
Other loans
Other creditors
12 Movement in funds
1 September
2022
Income
Year ended 31 August 2023
£
£
Unrestricted funds
Free reserves
86,619
128,646
NBV of fixed assets
376,882
-
Total funds
463,501
128,646
Prior year
1 September
2021
Income
Year ended 31 August 2022
£
£
Unrestricted funds
Free reserves
88,773
78,239
NBV of fixed assets
371,816
-
Total funds
460,589
78,239
Other debtors and prepayments
11 Creditors: amounts falling due within one year
Other loans
Other creditors
12 Movement in funds
1 September
2022
Income
Year ended 31 August 2023
£
£
Unrestricted funds
Free reserves
86,619
128,646
NBV of fixed assets
376,882
-
Total funds
463,501
128,646
Prior year
1 September
2021
Income
Year ended 31 August 2022
£
£
Unrestricted funds
Free reserves
88,773
78,239
NBV of fixed assets
371,816
-
Total funds
460,589
78,239
Expenditure
£
(84,396)
(1,109)
2023
£
1,515
2022
£
5,624
1,515 5,624
2023
£
20,000
2,130
2022
£
20,000
3,170
22,130 23,170
Transfers
£
(128,267)
128,267
31 August
2023
£
2,602
504,040
463,501 128,646 (85,505) - 506,642
1 September
2021
Income
£
£
88,773
78,239
371,816
-
Expenditure
£
(73,847)
(1,480)
Transfers
£
(6,546)
6,546
31 August
2022
£
86,619
376,882
460,589 78,239 (75,327) - 463,501

15

NOTES TO THE FINANCIAL STATEMENTS

BRISTOL INTERNATIONAL TRUST

YEAR ENDED 31 AUGUST 2023

12 Movement in funds (continued)

Free reserves represent the free reserves of the charity. Transfers out of this fund represent the cost of fixed asset additions in both the current and prior year.

NBV of fixed assets represents the Net Book Value of tangible fixed assets held by the charity. Expenditure from this fund represents the depreciation charge on tangible fixed assets in both the current and prior year. Each year, the value of assets purchased is transferred to this account from General funds.

13 Analysis of net assets

Year ended 31 August 2023

Unrestricted funds
Year ended 31 August 2022
Unrestricted funds
General funds
Tangible
fixed assets
£
504,040
Other
net assets
£
2,602
Total
£
506,642
504,040 2,602 506,642
Tangible
fixed assets
£
376,882
Other
net assets
£
86,619
Total
£
463,501
376,882 86,619 463,501

14 Related party transactions

There were no related party transactions during the year.


16

BRISTOL INTERNATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2023

15 Prior year comparative funds statemement

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income/expenditure
Transfers between funds
Total funds at 1 September 2022
Total funds at 31 August 2023
Unrestricted
Restricted
Total Funds
Funds
Funds
2022
£
£
£
22,363
-
22,363
5,993
-
5,993
47,383
-
47,383
2,500
-
2,500
78,239
-
78,239
75,327
-
75,327
75,327
-
75,327
2,912
-
2,912
-
-
-
460,589
-
460,589
463,501
-
463,501

17