Trustees Report for the year ending 31 December 2019

The trustees are pleased to present their report and the financial statements of the charity for the year ended 31 December 2019. The trustees have adopted the provisions of the 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 (FRS102) (Effective 1 January 2015) - (Chairties SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006, in preparing the annual report and financial statements of the charity.

Aims and Purposes

The aims of the Barton under Needwood & Dunstall Key Trust ('theTrust' are to distribute the income derived from investments, including rent from land, in accordance with the Trust Deed, whilst maintaining adequate reserves in line with future planned commitments.

Objects and Activities

The objects of the Trust are to meet the needs of the residents in the area of benefit as laid down in the Trust Deed, including:
- contributing to the upkeep and maintenance of the Parish Church in Barton under Needwood,
- relief of persons who are in need, hardship or distress, and
- for the general benefit in such charitable ways as the trustees think fit

Achievement and Performance

With our Trustees wide ranging knowledge of our community, commercial acumen and experience of managing charitable organisations we are well placed to continue the development and successful operation of the Trust. I thank my fellow trustees and our Clerk, Miriam Firth for their support. Without their dedication and hard work to this Trust it would not be such a successful contributor to the community and residents in Barton & Dunstall.

Finance & Investments

We remain content with the service and performance of Investec,our investment managers, but will continue reviewing their appointment to ensure that the trust is well served. Our allotments continue to be well occupied. Aggregate Industries are providing regular royalty payments into the capital of the Trust through the Community Fund Agreement and this is now providing additional income to theTrust for investment to support local beneficiaries as defined by our Trust Deed.

Total administration costs were 13.9% (2018 4.3%) of net investment income (excluding Investec management fees).

Grants

During the year grants totalling £7,349 were made to individuals and organisations with a further £41,500 pledged less £13,500 of 2018 grants that expired. Our Christmas voucher distribution cost £3,481. These and £7,908 payable to St James’ Church represent 49.7% (2018:113.8%) of our net investment income received during the year.

 Throughout the year we supported diverse projects including assisting Barton Mews with a digital piano for residents and visiting musicians to use, support for the WildLife Trust's work at Tucklesholme, tables and chairs for St James, computer equipment for the Rainbows, WiFi in Dunstall and, the most significant grant, to assist Holland Sports Club with their modular building. Again, we supported many youngsters looking to develop their personal skills and continue to encourage them to apply for our assistance.

Many community organisations have had the benefit of our support for projects that would not be possible without our support. We will continue to support these organisations with their many and varied projects and will encourage others to apply.

Marketing

Over many years the Trust has had the benefit of Adrian Wedgwood's expertise in marketing and promoting the Trust's work. We have been very grateful for his dedication and commitment in this work. He has now handed this over to Julie Skinner for her to continue the good work.

Working alongside project groups to provide facilities for the benefit of members of our community is ongoing, and is an important aspect of widening the local knowledge of our work. Encouraging young people with extracurricular activities is a significant objective for the Trust. Our website, www.bartondunstallkeytrust.co.uk, is continuously updated showing details of the latest grants and news items. Potential applicants can download our Terms & Conditions and our Application Form. We continue promoting the Trust by distributing promotional posters and taking free or low cost closely targeted advertisements in local magazines and guides as well as requiring sponsored projects to promote the Trust in their literature and by plaques on buildings. We continue to be grateful for our regular spot in the Barton Chime enabling us to promote our work and give examples of grants awarded. Our dedicated notice board in Barton Library is also a good promotional spot. We will continue to find ways to promote our services for the benefit of our local community.

As chairman I have been very lucky to benefit from the vast local knowledge and support of Margaret Fitchett as a Trustee and now, after many years' service Margaret has retired. During the year Rev Andrew Ridley moved to a new part of the country and we were sorry to lose his valuable input.Trustees thanked both for their support over the years and wished them well. We warmly welcomed Foster Rogers as a new Trustee, representing the PCC.

Public Benefit Requirement

The Trustees feel that the performance in the year demonstrates that the Trust continues to meet the Public Benefit criteria whilst complying with the Trust Deed.

 

Approved by the Trustees on 27th March 2020 and signed on their behalf by Adrian Wedgwood, Chairman:
Mrs J Jones, Chairman