BAINES. EDUCATIONAL TRUST ReEi5tered Charity No: 526225 TRUSWEES, REPORT AND FINANCIAL STATEMENTS YEAR ENDEO 31 DECEMBER 2023
BAINES, EDUCATIONAL TRusr YEAR ENDED 31 DECEMBER 2023 CONTENTS Trustees, Report Statement of Trustees, Responsibilities Receipts and Payments Account Balance Sheet Statement of Accounting Policies Notes to the Accounts Independent Examinerfs Report
BAINES, EDUCATIONAL TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES. REPORT The Trustees present their report for the year ended 31 December 2023. Legal status The Trust was established originally under the terms of the Will of James Baines in 1717. The Trust is registered with the Charity Commissioners, No. 526225. The instrument of government of the Trust was last revised on 24 July 2003. Trustees Ex Offlcio Trustee Reverend Lesley Atkins lincumbentl Nominated Trustees Mrs Kathleen Winifred Mont8omery- Clerk Co-opted Trustees Mr lan Rushton Mrs Beverley Clews Chair to the Trust Mr lan Rushton The Ex officio Trustee is the Principal Officiating Officer for the time being of the ecclesiastical parlsh ofst Paul's Marton. The Nomlnated Trustees are appointed one by St Paufs Parochlal Church Council and one by the Borough Council of Blackpool. The Co-opted Trustees are appointed by the Ex officio Trustee and the Nominated Trustee5 and must have Special knowledge of the trusts of the Charity and ihe a0 of Marton, Blackpool.
BAINES, EDUCATIONAL TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES, REPORT (CONTINUED) Principal Addre55 Flat 9, Tulloch Court Cherry Tree Road Blackpool FY4 4QL Prlnclpal Advisors Independent Examiner John Potter & Harrison Chartered Accountants 1121114 Whitegate Drive Blackpool FY3 9XH Investment Advisor5 Opus Wealth Management Ltd 286 Church Street Blackpool FYI 3QA Investec Wealth & Investment Ltd The Plaza 100 Old Hall Street Liverpool L3 9AB Bankers Co-operative Bank plc Lancashire Corporate Banking Centre 147 Church Street Preston PRI 3UD Solicitors Blackhurst Budd 22 Edward Street Blackpool FYI IBA Browne Jacobson Ground Floor 3 Piccadilly Place Manchester MI 38N
BAINES. EDUCATIONAL TRUST FOR TPIE YEAR ENDED 31 DECEMBER 2023 TRUSTEES, REPORT (CONTINUED) Oblertlves The objectives of the Trust are to provide items, services and facilites for Baines. Church of England Voluntary Alded School, Marton. Bla¢kpool. for the educational benefit of the community of Marton. The school converted to Academy status In 2015 and the objertives remain the same. The school name has now been amended to "Baines. Endowed Primary School and Children's Centre. a Church of England Academy". The Trust Deed has been modified a5 appropriate to incorporate this chanie. Or8anlsatlon The Trustls governed by Its Trustees who normally meet at least four tlmes per year. The Trustee5, asslsted by their advlsor5, are responsible for formulating the strategy and policSes of the Trust as whole. Including exercise of financlal controls thiou8h regular ftnènaal reportlng. Rlsk Mana8ement The maSor risks to whlch the Trust are exposed, as identified by the Trustees. have been reviewed and systems established to minimise those rlsks. Comblned Ilabllity insurances have been efferted wrth Eccleslastical Insurance Group. FSnan¢lal Revlew and Revlew ol Developments, Artlvlties and A(hSevgments and Future Developments The Trusgs Flnanclal Advlsors contlnue to managè the investments in accordance with the agreed Investment policy. The totsl amounts Invested have decreased slightly over the yeai due to losses on sales and rnanagement charges eKceedln8 investment Income. The market value of the investments has however Increased due to 8eneral market conditlons. The Advisors believe that the emphasls on quallty wlthln the well diversified portfolio give5 the potential for Stron8 future 8rowth. All trust land continues to be let at a falr rental value. The Trustees conflrm that they will contlnue to support the school within the conftnes of Trust Income. The Trustees believe that the Investments made and decisions taken have secured the Trust income and capital and improved Its ability to meet fts oblettive5. The total assets of the Trust redvced by £24,458 In this year. £22,OIS representing contribution to school towards various IT projects, agreed in the previou5 year. K Montgomery.. B Clews......... Trustees Date:_
BAINES. EDUCATIONAL TRUST YEAR ENDED 31 DECEMBER 2023 STATEMENT OF TRUSTEES. RESPONSIBIUTIES Law applicable to Charities in England and Wales requires the Trustee5 to prepare financial statement5 for each financial year which provide details of the CharlS financial artivities during the year and of its financial position at the end of the year. In preparing the financial statement5 the Trustees should follow best Practi and: select suitable accounting policies and then apply them consistently: where necessary make judgements and estimates that are reasonable and prudent,. state whether applicable accounting Standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial Statements- and prepare financial statements on a golng concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responslble for keeping proper accounting records which disclose, with reasonable accuracy the financial position of the Charily and which enable them to ensure that the financial statements comply with applicable law, regulations and trust deed. They are also responsible for safeguarding the a55ets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularitie5.
BAINES. EDUCATIONAL TRusr FOR THE YEAR ENDED 31sr DECEMBER 2023 RECEIPTS AND PAYMENT5 ACCOUNT Note 2023 2022 Receipts- Rent Investment income other income 2,305 27,614 2,305 24,658 64 29,983 27.027 Deduct payments - Lontributions Baines, School - leavers bibles Land agents tees- re rental Income Trustees insurance 22,015 839 177 1,456 1,569 24,364 2.472 5,619 24,555 Transler to capltal account -27.614 -24,658 Tran5ter trom Investments 24,000 Excess of {payments) over recelpts -21.995 23,897 Openln8 balances lstjanuary 20Z3- Co-operative Lurrent account 26,107 2,210 Closlng balances 31st December 2023- Co-operative Current account 4,112 26,107
BAINES. EDUCATIONAL TRUST AT 31ST DECEMBER 2023 BALANCE SHEEr Note 2023 2022 FIXED ASSET5 Tangible tixed a55ets Investments 717,654 720,117 717.654 720,117 CURREP4T AS5ET5 Cash at Bank- Current account 4,112 26,107 TOTAL ASSETS 721,766 746,224 REPRESENTED BY: CAPITAL ACCOUNT 717,654 720.117 INCOME ACCOUNT 4,112 26.107 721,766 746,224 Approved by the trustees and signed on their behalf-_ K MONTGOMERY CLEWS
BAINES. EDUCATIONAL TRU FOR THE YEAR ENDED 31 DECEMBER 2023 srATEMENT OF ACCOUNTING POUCIES Basls of accounting The financial staternents have been prepared under the receipts and payments basis in accordance with. and permitted by. Section 145 of the Charities Act 2LKJI. Income Income is taken Inio account at the date of receipt onty. no provision is made for income due or recelved in advance. Expendbture 15 accounted for at the date of payment only, no prowsion is made for expenditure paid In ailvance or due for payment. F5xed assts No value5 are shown in respect of the freehold land assets held because in the oplnion of the Trustees the cost of a valuatlon would only be justlfled If a disposal were contemplated. No such sale is contemplated. The Trustees do not feel an attrlbutable value is necessary for a proper understanding of the Charits financial positlon. No depretlatlon Is therefore provided on the freehold land assets. Investments are stated at cost wlth a note of ihe market value where ?ppli¢able.
BAINES, EDUCATIONAL TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO ACCOUNT AND BALANCE SHEET Rent received The rent from all Trust land is up to date. Tanglble Flxed Assets The Trust owns freehold land. 2023 2022 Investments Balance at 31 December 2023 717,654 720,117 Total market value £890.50612022 £849,757)
BAINES, EIXJCATIONAL Thu FOR THEYEAR ENDED 31ST DECEMBER 2023 NOTES TO AccouTrifAND BALANCE SHEEf ICONTINUEDI Capltal account 202a 2022 Balance at 31 December 2023 717,654 720,117 Income account 2023 2022 Balance at 31 December 2023 4,112 26,107
INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF BAINES, EDUCATIONAL TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 We report to the Charity Trustees on our examination of the accounts of Baines, Educational Trust for the year ended 31 December 2023 which are set out on pages 3 to 6.2 appended to this report. Respectlve re5ponsibllltles of trustees and examlner The Charity's Trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examlnation of the Charity's accounts carried out under section 145 of the Act and in carrying Out my examination have followed all the appllcable Directions given by the Charity Commi55ion under section 14515llbl of the Act. Independent examlnerfs statement I have completed my examlnation. I confinn that no material matters have come to my attention In connectlon with the examination givln8 me cause to believe that in any materlal respect-.- accounting records were not kept in respect of the Charity as required by section 130 of the Act, or the accounts do not accord wlth those records, or the accounts do not comply with the applicable requirements concering the form and content of accounts set out in the Charities IAccounts 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 the independent examination.1 I have no concerns and have across no other matters in connection with the examination to which attention should be drawn in this report in o to be reached. er to enable a proper understanding of the accounts I D RIDING John Potter & Harrlson Chartered Accountants 1121114 Whltegate Drlv BlackFK*oI FY3 9XH Dated:_