Charity registration number 1182418
Company registration number 11874886 (England and Wales)
BOLESWORTH CHARITABLE FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
BOLESWORTH CHARITABLE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
D C Barbour
N C Barbour
C D Findlater
Charity number
1182418
Company number
11874886
Registered office
Estate Office
Bolesworth Castle
Tattenhall
Chester
CH3 9HQ
Independent examiner
Mitchell Charlesworth
5 Temple Square
Temple Street
Liverpool
L2 5RH
Bankers
Handelsbanken
2 Albion House
Albion St
Chester
CH1 1RQ
BOLESWORTH CHARITABLE FOUNDATION
CONTENTS
Page
Trustees' report
1 - 2
Statement of trustees' responsibilities
3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 11
BOLESWORTH CHARITABLE FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: 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 2019).

Objectives and activities
Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance
Significant activities and achievements against objectives
Financial review

The Charity is in its fourth year of operation. This year, the Bolesworth garden and 'Rock Walk' were opened to the Public with all proceeds from ticket sales donated to the National Garden Scheme, for the benefit of their chosen charities.

 

The Rock Walk stretches for half a mile above the castle offering stunning views and hosting a collection of camelias, azaleas and rhododendrons, some of which were planted by Anthony Barbour in 1986.

 

Monies from book sales, 'Bolesworth and the Barbours' - a history of Bolesworth Estate and the Barbour Family, continue to be donated to the Bolesworth Charitable Foundation. Book sales in the year totalled £460.

 

Other fundraising events included 'Trooping the Colour' Park Ride and fancy dress held during the Bolesworth International Horse Show 2023. Members of the public were also given the opportunity to make a donation when purchasing online tickets for this event.

 

Other donations in the year were made to Bolesworth's chosen charities along with donations towards facilities in the local area.

 

Total donations of £12,745 were made by Bolesworth Charitable Foundaton in the year ended 31 March 2024.

Structure, governance and management

The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 11 March 2019. The company is registered as a charity with the Charity Commission (number 1182418).

 

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

D C Barbour
N C Barbour
C D Findlater
Recruitment and appointment of trustees

 

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

BOLESWORTH CHARITABLE FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The trustees' report was approved by the Board of Trustees.

N C Barbour
Trustee
19 December 2024
BOLESWORTH CHARITABLE FOUNDATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

The Trustees, who are also the directors of Bolesworth Charitable Foundation for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

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;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material 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 adequate 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 Companies Act 2006. 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.

BOLESWORTH CHARITABLE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BOLESWORTH CHARITABLE FOUNDATION
- 4 -

I report to the Trustees on my examination of the financial statements of Bolesworth Charitable Foundation (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mitchell Charlesworth
5 Temple Square
Temple Street
Liverpool
L2 5RH
Dated: 19 December 2024
BOLESWORTH CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
2
193
164
Other trading activities
3
9,660
973
Investments
4
183
13
Total income
10,036
1,150
Expenditure on:
Charitable activities
5
12,759
3,568
Total expenditure
12,759
3,568
Net expenditure and movement in funds
(2,723)
(2,418)
Reconciliation of funds:
Fund balances at 1 April 2023
9,853
12,271
Fund balances at 31 March 2024
7,130
9,853

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BOLESWORTH CHARITABLE FOUNDATION
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 6 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
10
1,025
-
Cash at bank and in hand
8,031
11,353
9,056
11,353
Creditors: amounts falling due within one year
11
(1,926)
(1,500)
Net current assets
7,130
9,853
The funds of the charity
Unrestricted funds
12
7,130
9,853
7,130
9,853

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 19 December 2024
N C Barbour
Trustee
Company registration number 11874886 (England and Wales)
BOLESWORTH CHARITABLE FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
1
Accounting policies
Charity information

Bolesworth Charitable Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Estate Office, Bolesworth Castle, Tattenhall, Chester, CH3 9HQ.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

BOLESWORTH CHARITABLE FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -
1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
193
164
3
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising events
9,660
973
BOLESWORTH CHARITABLE FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
183
13
5
Expenditure on charitable activities
Governance costs
Governance costs
2024
2023
£
£
Direct costs
Charitable donations
12,746
2,055
Share of support and governance costs (see note 6)
Governance
13
1,513
12,759
3,568
Analysis by fund
Unrestricted funds
12,759
3,568
6
Support costs allocated to activities
2024
2023
£
£
Governance costs
13
1,513
Analysed between:
Governance costs
13
1,513
7
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
BOLESWORTH CHARITABLE FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,025
-
11
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,326
-
Accruals and deferred income
600
1,500
1,926
1,500
12
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
At 31 March 2024
£
£
£
£
General funds
9,853
10,036
(12,759)
7,130
Previous year:
At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
12,271
1,150
(3,568)
9,853
BOLESWORTH CHARITABLE FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
13
Related party transactions

The charity enjoys a close working relationship with Bolesworth Events Ltd and Bolesworth Estate Co Ltd. Together these entities nominate the majority of our trustees (see the Trustees' Annual Report).

 

Within other debtors is a balance of £1,025 owed by Bolesworth Events Ltd.

 

Within other creditors is a balance of £13 owed to Bolesworth Estate Co Ltd.

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