THE PATRICIA BAINES TRUST Charity Number 327154 incorporating the Lawrance, Messer Charitable Trust
Statement of Financial Activities and Balance Sheet
for the year ended
5 April 2025
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THE PATRICIA BAINES TRUST TRUSTEES’ ANNUAL REPORT For the year ended 5 April 2025
Objectives and Activities for the Public Benefit
The charity benefits such charitable purposes, charitable institutions or charitable foundations in such proportions as the Trustees shall in their absolute discretion think fit. It is a grant making charity and the Trustees seek their own causes to support. Unsolicited applications are not considered.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year. The Trust carries out these objects and activities by making grants to registered charities and educational institutions which have charitable status within the United Kingdom.
Achievements and Performance
The charity does not undertake direct charitable activities other than grant making.
Financial Review
During the financial year the charity received investment income totalling £25,909 (2024 £22,187). The grants made during the year totalled £33,911 (2024 £48,181).
At the year end the funds held comprised of investments and cash deposits.
The Trustees aim to distribute the majority of its income arising in the year. They are again exceeding the year’s income by payments, in particular, to The Crafts Study Centre.
Structure, governance and management
The charity was constituted by deed dated 21 April 1986. The Trustees are appointed with the consent of and by deed executed by all current trustees.
New trustees are brieted on their legal obligations under charity law, the Charity Commission guidance on public benefit, informed of the contents of the deed, decision-making processes, the business plan and recent financial performance of the charity. Before taking on the role they meet key advisors and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
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THE PATRICIA BAINES TRUST TRUSTEES’ ANNUAL REPORT For the year ended 5 April 2025
Reference and administrative details
The charity is called The Patricia Baines Trust. It does not go under any other name. Its charity registration number is 327154. Its registered office is at Flint Cottage, North Oakley, Tadley, RG26 5TS. The Trust incorporates the Lawrance, Messer Charitable Trust.
The Trustees on the date the report was approved or who served as a trustee in the reporting period were:
Jessica Claire Fincham
Lorraine Hardy
The investment advisors are Evelyn Partners Investment Mangement LLP, 45 Gresham Street, London, EC2V 7BG.
The independent examiner is Melanie Prater ACA, Fox's Barn Fieldgate Drive, Kingsclere, Hampshire RG20 5850,
Risk
The Trustees identify risk in relation to the investments and take appropriate action to minimise the financial effect of that risk.
Public Benefit Statement
The Trustees are very mindful of this obligation and have been referring to the guidance when reviewing our aims and objectives and in planning our future activities.
Statement of Trustees’ Responsibilities
The Trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and of the income and expenditure for the year. In preparing those financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence; and
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed in the financial statements.
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THE PATRICIA BAINES TRUST TRUSTEES’ ANNUAL REPORT For the year ended 5 April 2025
The Trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provision of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trusteesand signed on their behalf by:
Jessica Fincham - Trustee
Date os/oz [2ore
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independent Examiner's Report to The Patricia Baines Trust
| report to the trustees on my examination of the accounts of The Patricia Baines Trust for the year ended 5™ April 2025
Responsibilities and basis of report
As the charity trustees of The Patricia Baines 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 Patricia Baines Trust accounts carried out under section 145 of the 2011 Act and In carrying out my examination | have followed all the 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:
1, accounting records were not kept in respect of The Patricia Baines Trust as required by section 130 of the Act; or
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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.
| 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.
Melanie Prater FCA
Fox's Barn, Fieldgate Drive Kingsclere Hampshire RG20 580
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THE PATRICIA BAINES TRUST STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 5 April 2025
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||||||||
|---|---|---|---|---|---|---|
|Notes|Unrestricted|Expendable|Total Funds|Total Funds|
|Income|Endowment|2024/25|2023/24|
|Fund|Fund|
|£|£|£|E|
|Income and endowments frorm:|
|Donations and|legacies|10,000|-|10,000|
|investment income|6|25,509|25,909|22,187|
|Total income and endowments|35,909|35,909|22,187|
|Expenditure|
|Expenditure on|raising funds|7|13,975|13,975|13,076|
|Expenditure on Charitable Activities:|B|36,332|-|36,332|50,726|
|Total Expenditure|36,332|13,975|50,307|63,802|
|Net gains on investments|9|-|34,083|34,083|11,274|
|Net income (expenditure)|(423)|20,108|19,685|(30,341)|
|Transfers between funds|423|(423)|-|-|
|Net income /[expenditure)|-|15,685|19,685|(30,341)|
|Other rcognised gains/(losses)|
|Gain/|(Loss) on revaluation of investments|9|-|(63,008)|(63,008)|76,750|
|Net movement in funds|-|(43,323)|(43,323)|46,410|
|Reconciliation of funds|
|Total funds brought forward|:|1,197,175|1,197,175|1,150,765|
|Total funds carried forward|1,153,852|1,153,852|1,197,175|
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The notes on pages 9 to 12 form part of the financial statements
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THE PATRICIA BAINES TRUST
Balance Sheet
as at 5 April 2025
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@s at 5 Apr 2025 as at 5 Apr 2024
£ £ £ €
Fixed Assets
Investments 9 1,127,925 1,182,718
Current Assets
Cash at bank and in hand 10 28,207 16,737
Liabilities:
Creditors: Amounts failing due within one year ii (2,280) (2,280)
25,927 14,457
Total net assets Li 53,852 1,197,175
Funds
Expendable endowment fursd 12 1,153,852 1,197,175
Unrestricted income fund 12 - .
1,153,852 1,197,175
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The accompanying notes on pages 9 - 12 form an integral part of this balance sheet
These financial statements were approved by the Trustees and signed on their behalf by:
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Lorrainelowsica Fincham Hardy te ofetonwn| | . | datedate0 4 i02/ Lb
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THE PATRICIA BAINES TRUST
STATEMENT OF CASH FLOWS.
For the year ended S April 2025
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|---|---|---|---|---|---|
|Notes|2025|2024|
|£|£|
|Cashflows from operating|activities|
|Net income|(expenditure)|19,685|(30,341)|
|Dividends and|interest|from|investments|(25,909)|(22,187)|
|Loss/({profit) on|sales of investments|(34,083)|(11,274)|
|{Increase)/decrease|in|debtors|.|-|
|Increase/(decrease)|in|creditors|-|(22)|
|Net cash generated from operating activities|(40,307)|(63,824)|
|Cash flows from|investing|activities|
|Proceeds from|sale|of investments|232,469|227,019|
|Purchases|of investments|(206,601)|(214,783)|
|Investment income|received|25,909|22,187|
|Net cash from|investing activities|51,777|34,423|
|Increase/(decrease)|in cash equivalents in the year|11,470|(29,401)|
|Cash and cash equivalents|at the beginning of the|
|year|—__28,737_|__46,137|
|Cash and cash equivalents carried forward|a|28,207|16,737|
|Notes to the Statement of Cash|flows|
|a.|Analysis of cash and|cash equivalents|
|2025|2024|
|£|£|
|Cash at bank|28,207|16,737|
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THE PATRICIA BAINES TRUST Notes to the Financial Statements for the year ended 5 April 2025
1 Accounting Policies
1.1 Basis of Accounting
These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s} to these accounts.
The financial statements have been prepared in accordance with the 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 of Ireland (FRS 102) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
1.2 Going concern
The accounts are prepared on a going concern basis.
1,3 Change of accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in note 1.1.
1.4 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
2 Funds
The Unrestricted Income Fund comprise those funds which the trustees are free to use in accordance with the charitable objects. The expendable endowment arose from a residuary legacy from the estate of Mrs Patricia Margaret Baines. This and the income are to be invested and the income used for any charitable purpose at the discretion of the trustees. The expendable endowment may also be spent at the discretion of the Trustees.
3 Income and expenditure
Income and expenditure is stated gross and is accounted for on an accruals basis.
4 Cash and cash equivalents
Cash and cash equivalents includes cash and short term highly liquid investments with short term maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
5 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event
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THE PATRICIA BAINES TRUST Notes to the Financial Statements
for the year ended 5 April 2025
| 6 | Investmentincome | 2025 | 2024 | |
|---|---|---|---|---|
| £ | £ | |||
| Dividendsandotherinvestment income | 25,909 | 22,187 | ||
| 25,909 | 22,187 | |||
| 7 | ~Expenditureonraisingfunds | 2025 | 2024 | |
| {Paidtromthe ExpendableEndowment Fund) | £ | £ | ||
| Evelyn InvestmentManagement Fees | 13,975 | 13,076 | ||
| 13,975 | 13,076 | |||
| 8 | Charitable Activities | |||
| Grantstoinstitutions | 2025 | 2024 | ||
| (All paidfrom UnrestrictedIncome) | = | £ | ||
| Aldworth ParochialChurchCouncil | 2,400 | 1500 | ||
| Carmel EstuaryYouth SailingClub | 600 | 600 | ||
| Envision | 1,000 | 1250 | ||
| Home StartWinchester | 1,000 | |||
| LymeResourceCentre | 250 | |||
| MIND | 500 | |||
| Movember | 1,000 | |||
| MSSociety | 6,000 | |||
| Oxford HospitalCharity | 1,000 | |||
| PrincessAlice Hospice | 1,000 | |||
| Smartworks | 500 | 500 | ||
| StRose'sSchool | 1,111 | |||
| TheAlexLewtsFoundation | 1,000 | |||
| TheCraftsStudy Centre | 9,000 | |||
| TheHampshireMedicalFund | 1,200 | |||
| TheInstituteofCancerResearch | 1,000 | |||
| TheNewAshgateGallery | 2,000 | |||
| TheParachute Regiment | 250 | |||
| TheParochial ParishCouncil ofRowledge | 2,100 | |||
| TheRoyalMarsden CancerCharity | 1,000 | 250 | ||
| 2023/24 donations notrepeated in2024/25 | 44081 | |||
| 33,911 —————————eoOoOoren |
48,181 Se EEEEnEEEEEEEEEnEEn |
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THE PATRICIA BAINES TRUST Notes to the Financial Statements for the year ended 5 April 2025
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|---|---|---|---|---|---|
|Management|costs|2025|2024|
|£|£|
|Bank charges & interest|69|73|
|Lefevres Chartered Accountants|780|730|
|Melanie|Prater FCA|- independent examination|1,500|1,500|
|Fee|for witholding|tax|reclaim|192|
|LEI|renewal|fee|72|
|2,421|2,545|
|The Charity had|no employees|during the|year|(2024;|nil}|
|Total Charitable Activities|36,332|50,726|
|9|Investments|UK|quoted securitiesand|unit|trusts|
|2025|2024|
|£|£|
|Market value on|6 April 2024|1,182,718|1,106,930|
|Additions at|cost|206,601|214,733|
|Disposal|proceeds|(232,469)|(227,019)|
|Realised and|unrealised gains/losses|(28,925)|88,024|
|Market value on|5 April 2025|1,127,925|1,182,718|
|Breakdown of 2024/25 gains/losses|£|£|
|Gain/{Loss} on revaluation|of investments|(63,008)|76,750|
|Realised|gains on investments|34,083|11,274|
|(28,925)|88,024|
|No|single investment was worth more than|5% of the value of the portfolio.|
|10|Cash at Bank|2025|2024|
|£|£|
|Cash at bank|28,207|16,737|
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THE PATRICIA BAINES TRUST Notes to the Financial Statements for the year ended 5 April 2025
11 Creditors
| Creditors | 2025 | 2024 | ||
|---|---|---|---|---|
| £ | £ | |||
| independentexamination fees | 1,500 | 1,500 | ||
| LefevresCharteredAccountants | 730 | 780 | ||
| 2,280 | 2,280 | |||
| Analysisofnetassetsbetweenfunds | Expendable | |||
| Unrestricted | Endowment | |||
| incomeFund | Fund | Total | ||
| £ | £ | £ | ||
| Investments | - | 1,127,925 | 1,127,925 | |
| Cash | - | 28,207 | 28,207 | |
| Othernetassets/liabilities | - | (2,280) | (2,280) | |
| Balanceat 5April2025 | e————— | - | 1,153,852 —_——————4 |
1,153,852 SS————— |
12 Analysis of net assets between funds
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