## **BIRMINGHAM BODENHAM TRUST** # **REPORT AND FINANCIAL STATEMENTS** **30 September 2023** **Registered charity number: 528902** OFFICIAL ## **Birmingham Bodenham Trust** ## **Table of Contents** Report of the Trustees ............................................................................................................. 2-5 Statement of Financial Activities ........................................................................................... 696 Balance Sheet ............................................................................................................................. 7 Notes to the Financial Statements ......................................................................................... 8-14 1 OFFICIAL ## **Birmingham Bodenham Trust** ## **Report of the Trustees for the Year Ended 30 September 2023** The Trustees present their report along with the financial statements of the charity for the year ended 30 September 2023. The financial statements have been prepared in accordance with the accounting policies set out in the notes thereto and comply with the charity’s trust deed and applicable law. ## **Reference and administrative information** |Name of charity:|Birmingham Bodenham Trust| |---|---| |Registered charity number:|528902| |Address for correspondence:|Birmingham Bodenham Trust| ||Birmingham City Council| ||PO Box16306| ||B2 2XR| |Trustee:
|Douglas Smith (Chair of the Trust Committee)| ||Councillor Diane Donaldson| ||Councillor Zafar A Iqbal MBE JP| ||Councillor Darius Sandhu| ||Douglas Reed| ||Radley Russell| |Independent Examiner:|For the financial year 2022-23, an independent| ||examination is not required as gross income is below| ||the Charity Commission threshold of £25k| |Bank:|The Cooperative Bank Plc| ||P.O. Box 82| ||118-120 Colmore Row| ||Birmingham| ||B3 3BA| 2 OFFICIAL ## **Birmingham Bodenham Trust** **Report of the Trustees for the Year Ended 30 September 2023 (cont’d)** ## **Structure, Governance and Management** ## _Governing document_ The fund was established by a Trust Deed dated 6 September 1989. It is a registered charity, with charity number 528902. ## _Recruitment and appointment of trustees_ The trustees, who served during the year, and since the year end, are set out in the reference and administration details on page 2. ## _Trustee Meetings_ Three Trustees are necessary to form a quorum. Issues are decided by a simple majority of those present and voting, provided at least two Trustees vote in favour of the resolution. ## **Objectives and Activities** The objects of the Fund are to promote the education and training of persons under the age of 19 years who have special educational needs, by the provision of special facilities or equipment or otherwise. ## **Public Benefit** The Trustees confirm that in the exercise of their powers as a charity trustee, they have had due regard to the published guidance from the Charity Commission on the operation of the public benefit requirement. The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of the charitable company and in planning any future activities. In particular, the Trustees have considered how planned activities will contribute to the aims and objectives set. ## **Achievements and Performance** Total income for the year was £22,907 (2021-22: £21,298). Charitable expenditure was £20,040 (2021-22: £21,636). 3 OFFICIAL ## **Birmingham Bodenham Trust** ## **Report of the Trustees for the Year Ended 30 September 2023** **(cont’d)** ## **Financial Review and Investment Policy** Unrestricted income for the period amounted to £nil (2021-22: £nil). Unrestricted expenditure totalled £2,153 (2021-22: £2,308) and comprised of fund manager’s fee. The Trustees are of the opinion that the Balance Sheet discloses funds adequate for the purpose of fulfilling the obligations of the charity. ## _Reserves Policy_ It is the policy of the charity to retain unrestricted funds, which are the free reserves of the charity, accumulated through the gains on investment over the years. ## _Investment policy_ The Trustees have the power to invest trust money in the purchase of, or an interest in the security of, such stocks, funds, shares, securities or other investment or property of whatever nature and wherever situated as the Trustees in their absolute discretion think fit to the intent that the Trustees shall have the same full and unrestricted powers of investing and transposing investments as if they were beneficially entitled to the Trust Fund. All investment is subject to the Trustee Act 2000. ## _Risk Management_ The Trustees keep under review the major strategic and operational risks which the charity faces and are satisfied that systems have been established in order to minimise the possible effects of such risks on the charity. 4 OFFICIAL ## **Birmingham Bodenham Trust** ## **Report of the Trustees for the Year Ended 30 September 2023 (cont’d)** ## **Trustees’ Responsibilities in Relation to the Financial Statements** The Trustees are responsible for preparing the Annual Report and the Financial Statements in accordance with applicable law and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – Charities SORP (FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, Financial Reporting Standard (FRS 102) and the provisions 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 Trustees and signed on their behalf by: Trustee: Douglas Smith (Chair of the Trust Committee) Date: 6 November 2024 5 OFFICIAL ## **Birmingham Bodenham Trust** ## **Statement of Financial Activities for the Year Ended 30 September 2023** |**Notes**
**Incoming resources**
Voluntary income: donations
10&11
Investment income
2
**Total incoming resources**
**Resources expended**
Direct charitable expenditure
3
Pensions
1f
Administrative expenses
Governance costs
3
_Investment manager’s costs:_
Fund manager’s fee
3
**Total resources expended**
**Net incoming resources**
**before transfers**
**Transfer**
Gross transfers between funds
1e
**Net incoming/(outgoing)**
**resources before other**
**recognised gains and losses**
Net gains/(losses) on
investment
15
**Net movement in funds**
**Reconciliation of funds**
Balance of funds brought
forward at 1 October
15
**Balance of funds carried**
**forward at 30 September**
**15**|**Restricted**
**Funds**
**£**
**Designated**
**Funds**
**£**
**Endowment**
**Funds**
**Total**
**2023**
**£**
**Total**
**2022**
**£**
-
-
-
-
-
22,907
-
-
22,907
21,298| |---|---| ||**22,907**
**-**
**-**
**22,907**
**21,298**
14,136
-
-
14,136
15,904
-
- -
-
-
-
- -
-
-
3,735
-
-
3,735
3,478
15
2,153
-
2,168
2.254| ||**17,886**
**2,153**
**-**
**20,039**
**21,636**
**5,021**
**(2,153)**
**-**
**2,868**
**(338)**
-
-
-
-
-| ||**5,021**
**(2,153)**
**-**
**2,868**
**(338)**
-
2,785
15,106
17,891
(70,550)| ||**5,021**
**632**
**15,106**
**20,759**
**(70,888)**
32,540
112,064
594,993
739,597
810,485| ||**37,561 **
**112,696**
**610,099**
**760,356**
**739,597 **| 6 OFFICIAL ## **Birmingham Bodenham Trust** ## **Balance Sheet as at 30 September 2023** |**Notes**
**Fixed assets**
Investments
4
**Current assets**
Cash at bank
5
Debtors: Amounts falling
due within one year
6
**Current liabilities**
Creditors: Amounts falling
due within one year
7
**Net current assets**
**Net assets**
**8**
Reserves
15
**Funds**|**Restricted**
**Funds**
**£**
**Designated**
**Funds**
**£**
**Endowment**
**Funds**
**Total**
**2023**
**£**
**Total**
**2022**
**£**
-
112,696
610,099
722,795
707,057| |---|---| ||**-**
**112,696**
**610,099**
**722,795**
**707,057**
104,824
-
-
104,824
81,917
101
-
-
101
101| ||**104,925**
**-**
**-**
**104,925**
**82,018**
(67,364)
-
-
(67,364)
(49,478)| ||**37,561**
**-**
**-**
**37,561**
**32,540**| ||**37,561**
**112,696**
**610,099**
**760,356**
**739,597**
37,561
112,696
610,099
760,356
739,597| ||**37,561**
**112,696**
**610,099**
**760,356**
**739,597**| Approved by the Trustees and signed on their behalf by: Trustee: Douglas Smith (Chair of the Trust Committee) Date: 6 November 2024 7 OFFICIAL ## **Birmingham Bodenham Trust** ## **Notes forming part of the Financial Statements for the year ending 30 September 2023** ## Note 1: Principal Accounting Policies ## a) Accounting Convention The accounts (financial statements) have been prepared, in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice, applicable to charities preparing their accounts and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – Charities SORP (FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The financial statements are prepared on a going concern basis, under the historic cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling, which is the functional currency of the charity. The significant accounting policies applied in the presentation of these financial statements, are set out below. These policies have been consistently applied to all years presented, unless otherwise stated. The charity has taken advantage, of the option provided in the Statement of Recommended Practice, to use headings in the Statement of Financial Activities, that are applicable to their specific activity, rather than reporting on an activity basis b) Investment Income Investment Income is accounted for on a receipts and payments basis and relates to income generated from investment. All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with accuracy. ## c) Resources Expended Expenditure is included on an accruals basis as the liability is incurred. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its objectives. Governance costs include associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs of strategic management. Grants awarded, once approved, are included in the Statement of Financial activities for the year in which the related activity is to take place. ## d) Fixed Asset Investment Investments are stated at market value at the balance sheet date as valued by the fund managers. The investments are independently managed by Gerrard Investment Management Limited, a company authorised and regulated by the Financial Services Authority. e) Funds and Transfers An Order of the Charity Commissioners dated the 22 November 1995 confirmed that the funds of the Bodenham Manor School Amenities Trust could be transferred to the Trust. 8 OFFICIAL ## **Birmingham Bodenham Trust** ## **Notes forming part of the Financial Statements for the year ending 30 September 2023 (cont’d)** The Order enabled the capital funds from the Amenities Trust to be expended at the discretion of the Trustees of the Birmingham Bodenham Trust. The trustees present policy is to invest the capital on a long-term basis and use only income from it. The capital is therefore shown as a separate Designated Fund in the accounts in order to distinguish it from the Endowment Fund. The Restricted Fund represents the accumulated unspent income to date which all derives from the investments of the fund. The Trust Deed provides that the Trustees shall set aside out of the income of the charity the sum of £4,140 as a contribution to capital in each year up to and including the year 2007-08. This practice has therefore ceased in relation to 2008-09. In addition, in order not to deplete capital, the trustees make provision from income each year a sufficient sum to replace Investment Fund Management Charges which are paid directly from the bank account which forms part of Fixed Assets Investments. Details and the nature of each fund are set below: **Designated Funds** comprise those funds which the Trustees are free to use in accordance with the charitable objects. **Restricted Funds** represent those assets that must be held permanently by the charity. ## f) Pensions The current Trust Deed allows for a pension enhancement to be paid to the former Head Teacher and his wife of the Bodenham Manor School. This enhancement is indexed in line with the yearly pension increases applicable to the appropriate national superannual. Both individuals are now deceased, and no payments are made. ## 2. Incoming Resources |Investment income

|**2023**
**£**
22,907
**22,907**|**2022**
**£**
21,298
**21,298**| |---|---|---| 9 OFFICIAL ## **Birmingham Bodenham Trust** ## **Notes forming part of the Financial Statements for the year ending 30 September 2023 (cont’d)** ## 3. Resources Expended ## **Charitable expenditure** |Charitable grant

Fund management fee

Governance costs

|**2023**
**£**
14,136
2,168
3,735
**20,039**|**2022**
**£**
15,904
2,254
3,478
**21,636**| |---|---|---| During 2022-23 the Trustees approved grant applications from individuals and organisations totalling £14,136 (2021-22: £15,904). Grants ranged between £259 and £2,038. The five largest grants awarded during the year were: ||**£**| |---|---| |Whizz Kidz|2,000| |Birmingham Hippodrome|2,000| |Children Today Charitable Trust|2,038| |SEND Socials Birmingham CIC|1,061| |Brainware|1,000| ## 4. Fixed Asset Investments |_Quoted Investments_
Market value at 1 October

Additions
New contributions
Disposals
Net unrealised gains / (losses)
Market value at 30 September
|**2023**
**£**
707,057
902
-
(2,795)
17,631
**722,795**|**2022**
**£**
779,915
1,195
-
(3,283)
(70,770)
**707,057**| |---|---|---| 10 OFFICIAL ## **Birmingham Bodenham Trust** ## **Notes forming part of the Financial Statements for the year ending 30 September 2023 (cont’d)** At the balance sheet date the investments comprised of: |**2023**
**£**
Investments listed on a recognised
stock exchanged 721,893

Cash and settlements pending 902
Market value at 30 September
**722,795**
5.
Cash at bank
**2023**
**£**
Balance at 1 October 81,917
Net change in cash 22,907
**Balance at 30 September**
**104,824**
6.
Debtors: Amounts falling due within one year
**2023**
**£**
Birmingham City Council -
Other debtors 101
**Total**
**101**|**2022**
**£**
705.862
1,195
**707,057**
**2022**
**£**
60,620
21,297
**81,917**
**2022**
**£**
-
101
**101**| |---|---| 11 OFFICIAL ## **Birmingham Bodenham Trust** ## **Notes forming part of the Financial Statements for the year ending 30 September 2023 (cont’d)** ## 7. Creditors: Amounts falling due within one year |Grants
Misc fees
Management fee
BCC recharge for services provided
**Total**
|**2023**
**£**
50,875
78
546
15,865
**67,364**|**2022**
**£**
36,740
78
530
12,130
**49,478**| |---|---|---| ## 8. Analysis of Net Assets between Funds |**Funds**
Restricted
Designated
Endowment|**Fixed**
**Assets**
**£**
**Net**
**Current**
**Assets**
**£**
**Total**
**2023**
**£**
**Fixed**
**Assets**
**£**
**Net**
**Current**
**Assets**
**£**
**Total**
**2022**
**£**
-
37,561
**37,561**
-
32,540
**32,540**
112,696
-
**112,696**
112,064
-
**112,064**
610,099
-
**610,099**
594,993
-
**594,993**| |---|---| ||**722,795**
**37,561**
**760,356**
**707,057**
**32,540**
**739,597**| ## 9. Trustees Remuneration None of the Trustees receive remuneration or other benefits from the Charity or reimbursement for any expenses incurred on behalf of the Charity, (2021-22: None). ## 10. Employees The charity has no employees. Administrative, secretarial, financial and legal services are currently provided by Birmingham City Council up to 31 May 2015 for no charge. With effect from 1st June 2015 services will be recharged to the Trust. Calculations will be based upon time recording and relevant hourly staff rates. 12 OFFICIAL ## **Birmingham Bodenham Trust** ## **Notes forming part of the Financial Statements for the year ending 30 September 2023 (cont’d)** ## 11. Independent Examiner’s Fee The fee for the Independent Examiner of the accounts was covered by Birmingham City Council up to and including the 2006-07. However, starting from 2007-08, the Trust has been responsible for paying the audit inspection fee, which is no longer included within Governance costs. For the financial years ending 30 September 2011 through 2022, no fee was applicable as the Trust’s income fell below £25,000, eliminating the requirement for an independent inspection. This remains the case for 2022-23, as the income is still below the threshold. ## 12. Donated Services and Facilities Birmingham City Council provided the charity with administrative, secretarial, financial, and legal services at no cost until 31 May 2015. From 1 June 2015 onwards, the Trust agreed to pay for these services. The value of these services has been calculated at £3,735 (2021-22: £3,478) and is reflected in the Statement of Financial Activities. The chargeable element has been determined based on staff time recording and applicable hourly rates. ## 13. Related Party Transactions Birmingham City Council is a related party of The Birmingham Bodenham Trust by virtue of the powers vested in it by the Trust Deed to appoint or remove a significant proportion of the Trustees of the charity. During the year the Council donated services and facilities as shown in note 11. Also, the Council made payments and provided services on behalf of the charity which are reimbursed at a later date. The total amount owing to the Council at the year end was £67,364 (2021-22: £48,975). ## 14. Control Relationships The charity is controlled by the Trustees. 13 OFFICIAL ## **Birmingham Bodenham Trust** ## **Notes forming part of the Financial Statements for the year ending 30 September 2023 (cont’d)** ## 15. Reserves |Restricted funds
Designated funds
Endowment funds
**Total funds**|**At 1 October**
**2022**
**£**
**Incoming**
**Resources**
**£**
**Outgoing**
**Resources**
**£**
**Gains /**
**(Losses)**
**£**
**At 30 September**
**2023**
**£**
32,540
22,907
(17,886)
-
37,561
112,064 -
(2,153) 2,785
112,696
594,993 -
-
15,106
610,099| |---|---| ||**739,597**
**22,907**
**(20,039)**
**17,891**
**760,356**| 14 OFFICIAL