Annual Reports

Trustees Report for the year ending 31 December 2022

The trustees are pleased to present their report and the financial statements of the charity for the year ended 31 December 2022. 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 5.0% (2021 9.0%) of net investment income (excluding Investec management fees).

Grants

During the year grants were awarded to various local organisations including The Barton Festival to help solve their storage problems (and over winter all the teddy rides, St James Church to give them and the congregation audio visual equipment and Holland Sports Club to progress with their disability access plans. We also helped the Village Hall with new staging and lighting for them to expand their offering and St Mary’s Church Dunstall with the restoration of the church organ.

We supported some young people developing their skills including three Rangers with their trips to Kenya, two musicians playing in New York, and several athletes competing around the country. We significantly increased the value of our Christmas Vouchers to better help those finding this time of year more challenging. We were pleased with the number of traders in the village displaying our posters and accepting the vouchers.

During the year we received a plea from Thomas Russel Infant and Junior Schools to help with their prize giving. Their sponsor of many years was no longer able to help so we stepped in and set up a new annual awards scheme. The Key Trust is now pleased and proud to support award schemes in all three of the Barton under Needwood schools.

Marketing

As always the Trust is grateful to Trustee Julie Skinner and Fos Rogers (the Barton Chime editor) 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 our February meeting we warmly welcomed two new Trustees, Brian Mole and Jonathan Cunningham. Both have added strength and experience to our Trustee team with Brian’s expertise as a former financial adviser and Jonathan with his legal experience. Fos Rogers left us at the end of the year and will be replaced by a representative of the PCC in the New Year. Fos stepped in for a short time, stayed a while and the Trust has been grateful for his useful input and support. I would like to take this opportunity to thank all my fellow Trustees and clerk, Lorraine Brant, for their support and work over the last year. We look forward to continuing and expanding the work of the Trust for the benefit of our local community in the coming year.

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