Charlty rezlstratlon number 521333 IEn8land and Wales) THE BARLOW INSTITUTE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE BARLOW INSTITUTE LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrjohn Marrlott Mr Michael W Fay Mp8 Guy Haynes Mr Phllip Grundy Mrs Jennifer Coleman Mr Nicolas Kernick Mr Stephen Rothwell (Appointed 18 May 20241 IAppolnted 18 May 20241 IAppolnted 26 March 20251 Charlty number (England and Wales) 521333 Prfn¢lpal addrass The Barlow Bolton Road Turton Bolton Greater Manchester England BL7 OAP Independent examlner Hulljadv 41 Brid8eman Terrace Wlgan Lèncashlre United Kingdom WNII
THE BARLOW INSTITUTE cOrENTs Pase Trustees. report Independent examlner's report Staternent of financlal athvltles Balance sheet Notes to the flnanclal statements 10-21
THE BARLOW INSTITUTE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statement5 for the year ended 310ecember 2024. The flnanclal statements have been prepared In accordance wlth the accoundng policies set out in note I to the flnanclal statements and comply with the charity's governing document. the Charltles Act 2011 and "Accoundng and Repordng by Charities.. Statement of Recommended Practlce applicable ro charlties preparlng thelr accounts In accordance with the Financial Reportln8 Stsndard appllcable in the UK and Republic of Ireland IFRS 1021 leffertSve l January 20191.. Oble¢tl¥es and actmtles The charity's objectls, in the interest5 of social welfare, to improve the conditions of life for the inhabltants of the Parlsh of North Turton without dlsdnction of polltlcal, religious or other opinion by the provision and malntenance of: a vlllage hall for use by the Inhabltants, includlng use for: meetin8s, lectures and classes, and 11. other forms of recreation and leisure-tSme occupatSon,' and a recreatlon 8round for use by the inhabitants. In line with the objects of The Charity, the Barlow provldes a centre for the 8ood of the local cffl)munity. It Is used extenslvely by the residents of the village of Edgworth and the immediately adjoinin8 areas within the area of beneflt of the Parlsh of North Turton. The Barlow is also a regular stopping off polnt for many vlsltors from outslde of the immedl3te area of benefit, Publlc benefit The trustee5 have paid due regard to 8uidance Issued by the Charlty CommlssSon In decldln8 what athvities the charfty should undertake. There were no malor Health and Safety Issues in 2024 to report. The Volunteer managed Ilbrary is runnlng a5 normal on Saturday mornings and Is very much appreclated and supported bythe Readlng Room Café and Bar, whlch offers free wi-fi, Ilght refreshments. and takeaway boxes. It Is frlendly and Is popular both with locals and walkers and other vlsitors. The varlou5 r00rn5 in The 8arlow have contlnued to be used by many local group5 providing a wlde varlety of activltles from art and crafts to sln8ln8. reading, pllates, yoga, seated exercise, toddler 8roup and brid8e. In 2024, we rÈfurblshed some of the smaller rooms whlch are to be rented out. The Barlow is the home of The Hort(cultural Society, Ed8WOrth Wl, a Folk Club and It has in Tecenr years hosted yet a8ain the very successful village pantomlme. The Barlow Is home to the uniformed groups for the younger members of our comrnunity. The 8arlow also hosts many functions in the hall Including weddln85, children's partles. Ilve music and other event5. In 2023, we invested In a new music system and in 2024 new chalrs for the hall. thank5 to some very generous donors, some of whom donated vla the Sponsor A Chair scheme. We have received many positive comments and feedback from attendees at the varlous functions.
THE BARLOW INSTITUTE TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 The Barlow holds re8ular craft fairs, a Christmas Fair and will be holding more Antlque Valuation Dtys as the first two were well attended. The people who ran the popular 8reÉn8rocery and plant stall unfortunately had to retire, so the stall Is now operated by the Barlow staff. being held every Saturday mornin8 in the hall, with plants to be Introduced to the range supplled very 500n. The three legged race was run by the charity this year and we wlll be h05tln8 the Edgworth Iok run and summer Fun Day. The Barlow Estate benefits from havln8 wlthin Its asset5 a Recreation Ground. Bowllng Green, Park and Woodland, The Recreadon Ground is home to Edgworth Cricket and Recreation Club IECRCI, whlch compete5 and womotes sport and recreatlon locally by provldlng coaching and team-playing opportunities to young people. The P3vlllon was recently up8raded to include improved changlng rooms, facilities for female players and an Improved bar and functfon area. The Bowling Green is home to Ed8WOrth Bowlin8 Club IEBCI. The Club has about 93 members and has teams in various league5. It provldes coachln8 to adults and for local school chlldren, and ha5 acqulred Some speciallst equlpment that allows some people with disabilities to bowl. The Charlty acknowled8es the dedlcation of ECRC and E8C groundsmen In malntaining the grounds to the hlgh standards that are commensurate wlth the needs of their respective Club ranklngs. Thelr achievements are a source of prlde to the members, the community and the Charity. The Barlow bulldlng Is a credlt to its Volunteers, It is always welcoming, clean and tldy desplte belng over 100 years old. The contribution and dedlcatlon of the Volunteers who run and maintain the buildin8 Is paramount to The Barlow's success. The Stewardship of The Charity Is through The Board of Trustees who contlnue to provlde their time on a voluntary basls. The Board of Trustees is always open for discusslon wlth anybody who wlshes to loln the Board and all meen85 are fully open to the publlc. Volunteer5 The contribution of the volunteers to the running and maintenance of The Barlow is irnmeasurable. Thelr commitment wlll secure the ongoing and future development of The Barlow, However, new volunteers are alway5 welcome whether It be worklng in the office, or providing ski115 on any part of our maintenance and decoration prolects. We appreciate all of our volunteers, contributions whether for a few hours or more a weel or to assist on speclflc prolects. The trustees also conttnue to provlde thelr ttme on a voluntary basis.
THE BARLOW INSTITUTE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance Slgnificont octivities ond ochievements aoalnst objecfives The Barlow Is open dally. for community groups and prlvate users. The Reading Room provldes pald employment for some members of the communlty, and provides a pleasant hub where people can meet socially. We are In the proce55 of updatin8 the webslte whlch should be more user frlendly. and wlll promote The Charlty and the various activities that are held here. Multl-use Games Arena {MUGA) The MUGA was completed and opened In July 2021 and has quickly become popular wlth much of the communlty and is very much utlllsed most evenlngs and weekends with diverse activities such as hockey, veteran5' football. junlors, football, bowlin8, and cricket, The MUGA ha5 been leased to the Cricket Club on a fully repairin8 25 year lease, funding was from a very generou5 donation from the Roberts famlly. plaroUnd The new playground was opened In july 2021 and has been an Incredible success with hardly a minute of any day where children of the vlllage and beyond cannot be heard having a great dme on the many attractions. Ongolng maintenance of the playground is now the responsibility of the Charity and plans are in place for thls to be carried out goln8 fonvard. Fundln8 again for this project wa5 provided by 8enerous donadons from the Roberts famlly. 8arlow Instltute Bulldlng The bulldlng is now safe, secure, and watertfght and the hall has recently been refurbished and Includes a new sound and light system ready for expanslon of the events calendar. The work was done largely by a team of dedlcated volunteers, With funds raised by 'Friends of The Barlow, and generous donations from local benefactors and the Folk Club. In 2024, many volunteer5 have worked on the renovation of some of the smaller rooms. Wlndows and Doors The orl8lnal project has been completed but a second project is still needed as there are stlll approximately 58 windows that need replacln8, plus J plan Is needed for the large leaded wlndows on the back landin8. Woodland5 The Work on the restoratton of Barlow Woods continues on an almost daily basls thanks to the trem8)dous efforts of a small but dedlcated band of volunteers, includin8 the local resident who had uryed us some years ago to s(Yt out the ne8lected and overgrown state of the Woods and brln8 the area back to It5 former 8lory. As reported last year, the volunteers and contractors had completed various work5 to Improve the Woods area, by clearlng over8rown ve8etation and dead and dlseased trees, plantfng new trees, Improving the footpaths, and provldlng new facilides including picnic tables, nestln8 boxes, bu8 hotels and activity areas for chlldren. They had also developed the former boating lake area Into the "William Kingsley Wetland" complete with new pond5, a pond dlpplng deck. two new footbridge5, and a new footpath all done wlth sUPPOrt and advlce from Bolton Conservation Volunteers. Unfortunately, recent Winter storms and Ash Die Back continue to cause devastation to some ofthetrees. Looking ahead. there Is stlll much work to be done to maintain and mana8e the facllitie5 that have been provided and keep the Woods in good order. We have recently been awarded a National Lottery Community Fund Grant of £20.000 and are looking to develop a Woodland Walk and further activity areas, We will be uslng some of the funds to host Forest School Learning Activities, startTn8 In autumn, for local children and vulnerable adult5.
THE BARLOW INSTITUTE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal VIeW At the end of 2024. the charlty had total reserves of £647,035, of whlch E641,654 were unrestrlcted and £5,381 were restricted12023 £710,480>. The Charity reported a deficit of £63,445 for the year after char8ln8 depreciatlon of £46,520. 12023 - deficit £119,650 after depreclation of £49,881). The trustees have a duty to carefully manage the assets of the Charity, in partlcular to malntaln the Barlow Est*e so that It can continue to be used for its charitable purposes lon£ into the future. The 8arlow has Ilke everyone else been Impacted by the well documented Cost of Livin8 cr1515 whlch has affected many costs, notably the price of food and ener8y and we have also been Impacted by wage rises, so we have to reK4ew prices on an ongoing basls to ensure that The Charlty can continue well into the future. In the year to 31 December 2024, the charlty completed further improvement works, and In particul¥, has refurblshed rnany of the smaller rooms in the buildin8 to rent out, to generate further income, Negotiations condnue regardin8 lease5 Wlth the Cricket Club and Bowling Club. Although cash reserves have been somewhat depleted, the buildlng and estate are in a far better condition than they have been for many years. It Is thanks to the very generous donattons that we hwe been able to improve The Barlow in recent years and we are thankful for your on8olng support. We are always keen to encourage new member5 to join the 'Frlends of the Barlow" so that we can continue to make improvements. The trustees have a duty to Sdentify and rnanage the risks to whlch the char5ty is exposed, flnanclal and othenvise and to ensure that approprlate controls are In place to ensure reasonable assurance a8alnst fraud. The trustees have assessed the major financlal rlsks to which the charlty Is exposed and are satisfied that systems are In place to mltl8ate exposure to major rlsks as far as possible. Volunteers and staff are given approprlate training and the trustees regularly dlscuss the rlsk5 faced and how to mana8e these, takln8 actlon where necessary. Reserves policy Itls the pollcy of the charlty that unrestricted f unds which have not been deslgnated for a speclflc use should be rnaintsined at a level equlvalent to between three and six month's net expenditure. The trustees consider that reserves at thls level wlll ensure that, in the event of a significant drop in funding. they wlll be able to contlnue the charlty'5 current actlvltle5 while conslderation Is 8lven to ways in which addltlonal funds may be ralsed. This level of reseeS has not been able to be malntained throughout the year. However, the trustees are actively seeklng to increase the level of cash reserve5.
THE BARLOW INSTITUTE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structuwe• governance and man•8ement Governln8 document The Charity is controlled by Its governing documenr, a Deed of Trust and conveyance dated 19 July 2026. amended by scheme dated 27 September 2000 and constitutes an unlncorporated charity A5 the charlty15 unlncorporated, North Turton Parish Councll acts as Custodian Trustee. Recrultment and appolntment of new trustees The trustees are appointed as follows: 2 elected at the AGM 4 nominated by North Turton Parish Councll 4 nomlnated by the Barlow User Groups 2 co-opted by the Trustees The Board can also Co-opt up to two further trustees If the 8 nominated positlons are not all filled. We have 2 Indlvlduals who are looklng to be appolnted as new trustee5. Illsk Manaiement The trustees have a duty to Identify and mana8e the rlsks to which the charity Is exposed. financial and otherwlse and to ensure approprlate controls are In place to provide reasonable assurance against fraud. Volunteers and staff are 8lven the training they need. The trustees re8ularly dlscuss the rSsks faced and how to manage the rlsks at trustees, meetlngs, taking acyon where necessary. The trustees who served durln8 the year and up to the date of signature of the flnanclal statements were: Mr John Marrlott Mr T Philip McDermott Mr Michael W Fay Mr B Guy Haynes Mr A Kerry Holt Mr Philip Grundy Mrs Rhian Drlver Mrs Jennlfer Coleman Mr Nlcolas Kernlck Mr Stephen Rothwell Mr Paul Allen (Resigned 2 March 20251 (Resigned 23 March 20251 IResi8ned 19 February 20251 (Appointed 18 May 20241 (Appointed 18 May 20241 IAppointed 26 Mah 20251 (Resigned 23 March 20251 Recruitment ond oppointment of trustees Organisotionol structure The charity is governed by Its trustees who are unpaid and are supported by a number of volunteers. The charity employs staff to operate the Readlng Room Cafe and Wine bar and certain function5. The trustees consider that they carry out adequate training to ensure they can carry out their duties responsiblv.
THE BARLOW INSTITUTE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Inductlon ond trolning of trustee5 The trustees consider that they carry out adequate tr4inin8 to ensure they can carry out thelr duties responsiblv. The trustees, report was approved by the Board of Trustees. Mr John Marrlott Trust Mr Phllip Grundy Trustee 7 May 2025
THE BARLOW INSTITUTE INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF THE BARLOW INSTITUTE I report to the tru5tee5 on my examination of the financial statements of The Barlow Institute It charity} for the year ended 31 December 2024, R¢sponslbllltles and basls of report As the trustees of the charity you are responsible for the preparation of the flnancial statements In accordance wlth the requirements of the Charlties Act 2011 (the 2011 Act). I report in respect of my examination of the charlty's financial statements carried out under sectbn 14S of the Charities Act 2011. In carrylng out my examination I have followed the Dlrectlons 8lven by the Charity Comm15slon under sectlon 14515llbl of the Charities Act 2011. Independ•nt oxamlner's statement Since the charity's gross Income eeeded £250,000 your examlner must be a member of a body Ilsted In section 145 of the 2011 Act. I confirm that l am qualified to undertake the examlnatlon because l am è member of ICAEW, which is one of the Ilsted bodies. Vour attention is drawn to the fart that the charlty has prepared financia5 statements In accordance wlth Accounting and Reportln8 by Charities preparlng thelr accounts in accordance with the Flnancial Reportfng Standard appllcable In the UK and Republic of Ireland IFRS 1021 in preference to the Accountln8 and Reporttng by Charltles,. Statement of Recommended Practice 555ued on l April 2005 which is referred to in the extant regulations but has now been wlthdrawn. l understsnd that thls has been done in order for financial statements to provide a true and falr vlew In accordance wlth Generally Accepted Accountln8 Practice effective for reportin8 periods beglnnlng on or after l January 2015. I have completed my examlnatlon. I confirm that no matters have come to my attention in connectlon with the examinatlon 8ivin8 rne cause to believe that in any material respect., accoundn8 records were not kept In respect of the charity a5 required by sectlon 130 of the Charltbes Att 2011. the linancial statements do not accord with those records; or the financlal sratements do not comply with the appllcable requirements concernlng the form and content of flnancial ststements set out in the Charities (Accounts and Reports) Regulatlons 2008 other than any requlrema)t that the financial statement5 8lve a true and fair vlew, which is not a matter consldered as part of an independent examinatlon. I have no concerns and have come across no other matters In connection with the examination to whlch attent(on should be drawn in thls report In order to enable a proper understandln8 of the financlal statements to be rexhed. Clare Jady FCA Hulljady 418rldgeman Terrace Wl8an Lancashire WNII United Kingdom 7 May 2025
THE BARLOW INSTITUTE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted funds 2024 Restrlcted funds 2024 Totsl Unrestrlrted funds 2023 Restrfrted funds 2023 Total 2024 2023 Notes In¢ome from: Donations and le8acies Charltable activities Other tradin8 activltles Investments 9,295 10,523 269,111 943 13,635 22,930 10,523 269,111 943 16,423 13,549 233,745 351 25,000 41.423 13.549 233,745 351 Total In¢ome 289,872 13,635 303,507 264,068 25,000 289,068 Expendlture on: Raisin8 funds Charltable actlvittes 242,461 104,321 242,461 124,491 252,750 113,713 252,750 155,968 20,170 42,255 Total expendlture 346,782 20,170 366,952 366.463 42,255 408,718 Net empendlture and mo¥ement In funds 156,9101 16,5351 163,4451 1102,3951 117,255) 1119,6501 RKon¢lllatlon of funds: Fund balances at l January 2024 698,564 11,916 710,480 800,959 29.171 830,130 Fund bal?n¢es at 31 December 2024 641,654 5,381 647,035 698,564 11,916 710,480 The statement of financial activities Includes all gains and losses recognlsed In the year, All Irrome and expendlture derive from continuing actlvlttes.
THE BARLOW INSTITUTE BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Nfftes Hxed assets Tangible assets 16 670,186 707,622 Current assets Stocks Dèbtors Cash at bank and in hand 4.668 2,868 26.552 4.949 17,251 47,563 19 34,088 157,2391 69,763 166,905) Credltors: amounts 1o111Thg due wlthln one year 20 Net current (Ilabllltles)lassets 123.151) 2,858 Total Jsset5 less current Ilabllltle5 647,035 710,480 Total net assets 647,035 710,480 The funds of the ¢harlty Restricted Income funds Unrestricted funds 22 5,381 641,654 11,916 698,564 647,035 710,480 The flnantial statements were èppn)ved by the trustees on 7 May 2025 Mr John Marrlott Trustee Mr Phlllp Grundy Trustee
THE BARLOW INSTITUTE NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Acwuntlng poll¢les Charlty Informatlon The 8arlow Institute is an unincorporated charity registered with the Charity Commisslon and govemed by a conveyance dated 19 July 1926 and amended by a scheme dated 27 September 2000. 1.1 Accountlng conventlon The ftnanclal statements have been prepared In accordance wlth the charity's governlng document, the Charitles Art 2011 and "Accountlng and ReportSn8 by Charities., Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial ReportSn8 Standard appllcable in the UK and Republlc of Ireland IFRS 1021 leffettive l January 20191" The charity is a Publlc Benefit Entity as defined by FRS 102. The charlty has taken advantage of the provlslons In the SORP for charlttes applylng FRS 102 Update 8ulleJn I not to prepère a Statement of Cash Flow5, The flnanclal statements have departed from the Charities {Accounts and Reports) Regulations 2008 only to the extent required to provlde a true and falr vlew. This departure has involved following the Statement of Re(ommended Practlce for charities applyin8 FRS 102 rather than the version of the Statement of Recommended Pracdce whith Is referred to In the Re8ulations but whlch ha5 since been wlthdrawn. The flnanclal statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The flnancial statements have been prepared under the historical cost convention, (modlfled to indude the revaluatTon of freehold properties and to include Investment properties and certaln financial instruments at fair valuel. The prlnclpal accounting pollcles adopted are set out below. 1.2 Goln8 concern At the time of approvin8 the flnancial statements, the trustees have a reasonable expectation that the charlty has adequate resources to continue In operatlonal existence for the foreseeable future. Thus the trustees conynue to adopt the golng concern basis of accountlng in preparln8 the linancial statements. 1.3 Charltable funds Unrestricted funds are avallable for use at the discretion of the trustees in furtherance of thelr charltable oblectives. Restricted funds are Subject to speclfic conditlons by donors as to how they may be used. The purpJ5es and uses of the restricted funds are set out in the note5 to the financlal Statements. Where donations and grants are received Specifically to purchase flxed assets. where those flxed assets are not themselves restricted, a transfer between restrlcted and UnstrICted funds is made In the statement of financlal activities. Endowment funds are subject to speciflc conditions bv donor5 that the capitsl must be rnaintalned by the charlty. IA Income Income 15 recognised when the charlty is legally entltled to it after any performance condStions hwe been met, the amounts can be measured rellably. and it Is probable that income wi11 be recelved. Cash donattons are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, Lrnless performance conditions require deferral of the arnount. Income tax recoverable In relation to donation5 received under Gift Aid or deeds of covenant is recogni5ed at the time of the donadon. 10-
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEmErs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcle5 (Contlnued) Legaties are recognlsed on recelpt or otherwise if the charity ha5 been notlfied of an impending dlstribution. the amount is known, and receipt is expected. If the amount is not known, the le8acy 15 treated as a contingent asset. 1.5 Expendltu Expendlture is recognised on an aecruals basis, when the charity is legally obli8ed to make It. ttE amounts can be measured rellably and it is probable that the expendlture will be incurred. 1.6 Tanglble flxed assets Tangible flxed assets are Inltlally measured at cost and subsequently measured at cost or valuatlon, net of depreclatlon and any impairment losses. Depreciation is recognised $0 as ro wrlte off the cost or valuatlon of assets less their resldual value5 over their useful Ilves on the followlng bases,, Crlcket and BowlSng Pavlllons Cricket equipment Flxrures and fltttngs Play8round Multf-use games are3 Veranda 2% cost and 25% reducln8 balance basls 20% on cost 25% on cost 6.67% on cost 5% on cost 6.67% on cost The Baln or loss arSsln8 on the disposal of an asset Is determined as the difference between the sale proceeds and the carrying value of the asset, and 15 reco8nised in the statement of financial acdvldes. 1.7 ImpJlrmeftt of flxed assets At each reportin8 end date, the charity reviews the carrylng amounts of its tangible assets to determlne whether there 15 any indication that those assets have suffered an Impalrment loss, If any such Indlcatyon exlsts, the recoverable amount of the asset is estlmated In order to determlne the extent of the impairment loss Ilf any). 1,8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been Incurred In brlngSng the stocks to their present location and conditlon. Item5 held for distribution at no or nomlnal consideratlon are measured the lower of replacement cost and cost. Net reallsable value is the estimated selllng prlce less all estimated costs of completlon and costs to be Incurred Sn marketing, selling and distributlon, 1.9 Cash and cash equlvalents Cash and cash equivalents Include cash in hand, deposlts held at call with banks, other 5hort-term Ilquld Investments with ori8inal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowin8s In current liabilities. 11
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢countln8 pollcles (Contlnued) 1.10 Flnanclal Instruments The charity ha5 elected to apply the provislons of Section 1,1 'Basic Flnanclal Instruments. and Sectlon 12 '0ther Financial Instrument$15sues' of FRS 102 to all of its flnanclal Instruments. Flnanclal Instruments are reco8nlsed In the charity'5 balance sheet when the charity becomes party to the contrartual prov151ons of the instrument. Flnanclal a55ets and liabllldes are offset, with the net amounts presented in the flnanclal statements, when there Is a legally enforceable ri8ht to set off the reco8nised amounts and there is an intention to settle on a net basls or to realise the a55et and settle the liabllity slmultaneously. 8uskflnanclal a55ets Basic financial assets, which Include debtors and cash and bank balances, are Init1311y measured * transaction price Includlng transactlon costs and are 5ub5equently carrled at amortised cost usin8 the effectSve Snterest method unless the arr3n8ement constitutes a frnancing transacdon, where the transaction is measured at the presert value of the future receipts dlscounted at a market rate of interest. Flnanclal assets classlfled as receivable thIn one year are not amorttsed. Bosl¢flnan¢lol Ilabllltles Baslc financial liabilities, including credltors and bank loans are Initlally reco8nlsed at transartlon price unless the arran8ement constitutes a flnancing transaction, where the debt instrument is measured at the presert value of the future payments discounted at a market rate of interest. Flnanclal liabilities classified as payable wlthln one year are not amortised. Debt instruments are subsequently carried at amortised cost, usin8 the effective Interest rate method. Trade creditors are obligations to pay for goods or services that have been acqulred In the ordinary course of operations from Suppliers. Amounts payable are classlfied as current liabilities if payment Is due wlthin one year or less. If not, they are presented a5 non-current liabilities. Trade credltors are recogn15eé Inltially at transactlon prfce and subsequently measured at amordsed cost U5in8 the effecyve interest method. Dere(0gnltton offinal01 Ilabllltles Flnancial Ilabllltles are dereco8nised when the charltvs contractual obligatTons expire or are dSschar8ed or cancelled. 1.11 Employee benefits The cost of any unused hollday entitlement is recognlsed in the period in which the employee'5 Services a recelved. Termination benellts are recognised immediately as an expense when the charlty 15 demonstrably comrnltted to terminate the employment of an employee orto provide termination benefits. 1.12 Retlrement beneffts Payments to defined contributlon reiirement beneflt schemes are charged as an expense as they fall due. 12
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Crltlcal accounttn8 estlmates and JUdMentS In the application of the charity's accounting policies, the trustees are required to make Jud8ements. estlmates and assumptions about the carrying amount of a55et5 and liabilities that are not readily apparent from other sources. The estlmates and associated assumptions are based on historical experience and other factors that are consldered to be relevant. Actual results may differ from these e5tEmates. The esttmates and underlying assumptions are revlewed on an ongoing basis. Revlslons to accountin8 estimates are recognised in the period In whlch the estimate is revised where the revision affects only that perl(Kl. or In the perlod of the revision and future periods where the revSsion affects both current and future perlods, Donatlons and leB•¢le$ Unrestrlcted funds Restrlcted funds Total Unrestricted funds Restrlcted funds Total 2024 2024 2024 2023 2023 2023 Donatlons and 81ft5 9.295 13,635 22,930 16,423 25,000 41,423 In¢ome Irom ¢h•rltsble a¢tlvltle$ Charlt•ble artlvftles 2024 Charlt•ble actlvltles 2023 flentsl Income and room hlre FundralsSng events and tlcketS 6,855 3,668 8,331 5,218 10,523 13,549 Analysls by fund Unrestricted funds 10,523 13,549 13-
THE BARLOW INsfiTUTE NOTES TO THE FINANCIAL STATEmErs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Incorne from other tradlng activitles Unrestrlcted funds 2024 Unrestrlcted funds 2023 The readlng room coffee shop and bar 269,111 233,745 Income from Investments Unrestrlrted funds 2024 Unrestrfcted funds 2023 Interest receivable 943 351 Ralslni funds Unrnstrlrted Unrestricted funds funds 2024 2023 Costs of fundraising and dcketed events 5,406 6,906 Tr Coffee shop and event purchases Bar purchases Staff costs 58,618 22,985 155,452 63,850 13,211 168,783 Trading costs 237,055 245,844 242,461 252.750 14-
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charltable actlvltles Charftable expendlture 2024 Charlt•ble expendlture 2023 Dlre¢t $ts Depreclatlon and impairment Charitable Expendlture 46,520 24,391 49.881 44.684 70,911 94,565 Grant fundln8 of actlvltles (see note 101 190 Share of support and governance cost$ (see note 111 Support Govemance 49,123 4.457 57,154 4,059 124,491 155,968 Anatygls by fund Unrestrlcted funds Restrlcted funds 104,321 20,170 113,713 42,255 124.491 155,968 Destrlptlon of ¢harltable artlvltles Charitable expenditure includes all costs associated wlth the upkeep of the Barlow Estate and the non-tradlng costs associated with the charitable purposes of the Charity, includln8 expenditure on repalrs to the fabrfc of the Barlow Building and surrounds. io Grants payable 2023 loo Small donations made by the Charity 15-
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Support costs Support CQSts Governance sts 20Z4 Support COSts Governance costs 2023 Bank charges Rates and water Insurance Llght and heat Telephone P05ta8e and 5t3tionery Advertlsln8 Sundry office costs Cleanln8 and maintenance 4,779 2,456 2,856 17.839 1,260 iii 4.779 2,456 2,856 17,839 1,260 iii 880 2,528 16,414 4,310 458 5,959 23,847 1,260 231 960 1,978 18.151 4,310 458 5,959 23,847 1,260 231 960 1,978 18,151 880 2,528 16,414 Accountancv 4,457 4,457 4,059 4,059 49,123 4,457 53,580 57,154 4,059 61,213 Analysed between Charitable acfjvlfjes 49,123 4,457 53,580 57,154 4,059 61,213 12 movement In funds 2024 2023 The net movement in funds is stated after charglng/lcreditingl', Depreciation of owned tangible flxed asset5 46,520 49,881 13 Trustees None of the trustees lor any persons connected with them) received any remuneratlon or benefits from the charltv durln8 the year. 14 Employees The average monthly number of employees during the year was: Z024 Number 2023 Number Bar and coffee shop staff Cleaner 18 23 Total 19 24 16-
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Employees {Contlnuedl Employment costs 2024 2023 Wages and salaries Other penslon costs 152,969 2,483 166,591 2,192 155.452 168,783 There were no employees whose annual remuneration was more than £60,OIX). Taxatlon The charity Is exempt from taxation on its actlvlties because all its income is applled for charitable purposes. 17-
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Herltage assets At l January 2024 and at 31 December 20Z4 The charity was set up to manage and maintain land and property whlch had been 8lfted by the Barlow famlly to the custodlan trustee, North Turton Parish Council, whlch holés formal tltle to the estate on behalf of the charlty. The trustee5 consider the land and property to be a Herltage Asset because it has speclfic historlcal and environmental qualities and 15 held and maintalned for its contrlbution to the cultural life of local people. The Heritage Asset derlves from permanently endowed assets of the Charlty. 18 Stocks 2024 2023 Raw materla.s and consumables 4,668 4,949 19 Debtors 2024 2023 Amounts falllni due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 1,857 750 261 2,844 14,407 2,868 17,251 20 Credltors: amounts falllng due wlthln one year 2024 2023 Other taxadon and Social security Trade creditors Other creditors Accruals and deferred Income 17.423 26.923 S67 12,326 12,111 27,265 12,279 15,250 57.239 66,905 21 Retlrement benefft schemes 20Z4 2023 Defined Contrlbutlon schemes Charge to profit or loss in respect of deflned contributlon schemes 2,483 2.192 19-
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Retlrement benellt Schemes (Contlnued) The charity operates a defined contribution penslon scheme for all qualifyin8 employees. The assets of the scheme are held Separately from those of the charlty in an independently administered fund. 22 Restrlrted funds The restricted funds of the charity comprise the unexpended balantes of donatlons and grant5 held on trust subject to 5peclfic condltlons by donors as to how they may be used. At l January 2024 Incornlng resources Resou¢ At 31 Decernr expended 2024 Sponsor a Chair Ed8WOrth CRC The Robert5 FamilylAO Prlvate Donor5 1,360 2,125 10.000 150 (1,3601 12,1251 iio,0001 {6,6851 11,916 5,381 11,916 13,635 120,1701 5,381 Prevlous year: At l J•nuary 2013 In¢omln8 resources Resources At 31 De¢ember expended 2023 The Roberts Famlly/AO Semble Network Edgworth Horticultural Society Scouts, Cubs, Beavers Private Donors Folk at The Barlow Folk Club 15,000 11S.fXIOI 13151 16641 15001 (22,0841 {3,6921 315 664 500 24,000 3,692 iO,OLN) 11,916 29,171 25,000 {42.2551 11,916 Restricted funds relate to the following: In 2024, donation5 received from prlvate donors in 2023 were spent on repairs to the Barlow buildlng. In 2024, various donors 8ave a total of £1.360 which contributed to new chalrs for the Hall. In 2024, the Roberts Family/AO donated £10,000 for the Edgworth Cricket and Recreational Club whlch has been passed on to them. In 2024, private donors donated £150 for the cooker hood. -20-
THE BARLOW INSTITUTE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Unrestrlrted funds The unrestrlcted funds of the charlty comprise the unexpended balances of donations and grants whlch are not subject to specific conditions by donor5 and grantors as to how they may be used. These Include deslgnated funds which have been set aslde out of unrestricted funds by the trustees for speclfic purposes. At l January 2014 Incomlng resouwces Resources At 31 December expènded 2024 General funds 698,564 289,872 1346,7821 641,654 Prnvlous year: At l January 2023 Incomln8 resources Resources At 31 DKember expended 2023 General funds 800,959 264,068 1366,463) 698,564 24 Anaty51s of net issets bètween funds Unrestrl¢ted funds 2024 Restrlrted fund• Z024 Total 2024 At JI December 2024: Tanglble assets Current assets/(liabilitiesl 670,186 128,5321 670,186 123,1511 5,381 641,654 S,381 647,035 Unrestrlcted funds 2023 Restrlrted funds 2023 Total 2023 At 31 December 2023: Tangible assets Current assets/lliabilitiesl 707,622 19,0581 707,622 2,858 11,916 698,564 11.916 710,480 21