Annual Report 2021
Trustees Report for the year ending 31 December 2021
The trustees are pleased to present their report and the financial statements of the charity for the year ended 31 December 2021. 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 (FRS 102) (Effective 1 January 2015) - (Chairties SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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 ('the Trust') 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, Lorraine Brant for their support. Without their dedication and hardwork 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 the Trust for investment to support local beneficiaries as defined by our Trust Deed.
Total administration costs were 9.0% (2020 5.0%) of net investment income (excluding Investec management fees).
Grants
During the year grants were awarded to various individuals and organisations and, post pandemic, others were able to take advantage of earlier awards and complete their projects. These included Holland Sports Club with their grant of £30,000 to progress development work at the club, the Parish Council for their work on the village fish pond and Barton Methodist church to complete their improved access. Our Christmas voucher scheme distributed £3,810 to help over 70 local residents and these were spent with over 20 different local businesses. We also supported local businesses with the highly visible ‘Support Barton’ campaign, encouraging everyone to use our local businesses as we emerged from the pandemic and I thank Trustee Jim Black for all his hard work on this successful project. In addition to our maintenance payment to St James Church we helped fund the new church gates with a grant of over £9,700. The Bowls Club received a grant of £11,000 to help with their successful renovations. Many individuals are still not able to undertake their personal development activities but we hope to support them during the coming years.
Marketing
As always the Trust is grateful to Trustee Julie Skinner and the Barton Chime for their continued support throughout the year. The regular spot in the Chime continues to raise awareness of the Trust and our work. Our website (www.bartondunstallkeytrust.co.uk) was updated during the year and has details of grants awarded, information and forms on how to apply, dates of meetings and other information.
PERSONNEL
We have had several changes to personnel during the year. At the start of the year we welcomed our new clerk, Lorraine Brant. Lorraine settled in very quickly and I’m grateful to her for her work throughout the year. At our February meeting we welcomed the new St James vicar, Rev Andy Simpson as a Trustee. He too has settled in quickly and is a fully active Trustee. Sadly Trustee Jim Black decided that it was time for him to retire at the end of the year. The Trust and I personally are grateful to Jim for his long service, hard work and contribution to the successful management of the Trust over many years. We hope to welcome new Trustees in 2022.
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 13th May 2022 and signed on their
behalf by Mrs J Jones, Chairman:
Mrs J Jones, Chairman