Annual Reports

Trustees Report for the year ending 31 December 2020

The trustees are pleased to present their report and the financial statements of the charity for the year ended 31 December 2020. 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, Miriam Firth 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 5.0% (2019 13.9%) of net investment income (excluding Investec management fees).

Grants

During the year grants totalling £11,279 were made to individuals and organisations with a further £26,500 pledged less £1,500 of 2019 grants that expired. Our Christmas voucher distribution cost was £3,251. These and £5,050 payable to St James’ Church represent 67.5% (2019: 49.3%) of our net investment income received during the year. It was a difficult year for so many and the level of applications to the trust was affected by the Covid pandemic and projects we had agreed to support were delayed. Again, we supported many youngsters looking to develop their personal skills and continue to encourage them to apply for our assistance but many of their projects to various parts of the world were cancelled and we hope they will be able to take advantage of the Trust next year. When we do emerge from Covid pandemic restrictions we will continue to encourage and support local organisations with their many and varied projects and look to where we can make a difference to our community.

Marketing

The Trust is grateful to Trustee Julie Skinner for marketing support throughput the year. We are grateful to the Barton Chime for their continued support and our regular spot in the Chime, enabling us to promote our work and give examples of grants awarded.

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 web site, 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 requiring sponsored projects to promote the Trust in their literature and by plaques on buildings. 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 support and professionalism of our clerk, Mrs Miriam Firth. Sadly, but understandably Miriam decided to retire and we were grateful that she agreed to stay with us until a suitable replacement could be found. As Trustees we are all grateful for the hard work and dedication Miriam has shown to the Trust over many years and we all agreed that we will miss her. At the end of the year we appointed Mrs Lorraine Brant to begin work in January 2021 and we look forward to giving Lorraine a warm welcome. St James Church have appointed a new vicar, Rev. Andy Simpson and we look forward to welcoming Andy as a  Trustee  in 2021.

I would like to take this opportunity to thank my fellow Trustees for their support over the last year. None of us have really enjoyed the necessary Zoom meetings but it has enabled us to continue our work. I look forward to us all getting together in person sometime during 2021 and look forward to a safe and healthy future where we can expand our work in the Barton and Dunstall community. 

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 2021 and signed on their behalf by Mrs J Jones, Chairman:
Mrs J Jones, Chairman