Charity registration number 1121739
Company registration number 06428200 (England and Wales)
BALLINGER CHARITABLE TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
BALLINGER CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs D Ballinger
Mrs N Crowther
Mr A Ballinger
Mr J Flynn
Secretary
Ms J L Thomas
Charity number
1121739
Company number
06428200
Registered office
Bede House
Belmont Business Park
DURHAM
United Kingdom
DH1 1TW
Auditors
Azets Audit Services
Bede House
3 Belmont Business Park
Durham
DH1 1TW
United Kingdom
Investment advisors
Rathbones
Earl Grey House
75-85 Grey Street
Newcastle Upon Tyne
NE1 6EF
England
Bankers
Bank of Scotland
75 George Street
Edinburgh
EH2 3EW
Scotland
BALLINGER CHARITABLE TRUST
CONTENTS
Page
Trustees' report
1 - 3
Statement of trustees' responsibilities
4
Independent auditor's report
5 - 7
Statement of financial activities
8
Balance sheet
9 - 10
Statement of cash flows
11
Notes to the financial statements
12 - 29
BALLINGER CHARITABLE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -
The Ballinger Charitable Trust (‘the Trust’) is a company limited by guarantee. The Trustees are its directors.
The Trustees present their report and financial statements for the year ended 31 December 2024.
The Trust’s financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with its governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitable organisations 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 - Grant Making Policies
We grant money to charitable causes according to the priorities we have chosen to support. The money comes from both income generated by the investments held by the Trust, and from expending those investments in part from time to time.
We invite applications for grants via our website ballingercharitabletrust.org.uk. Our typical grant award in 2024 was between £10,000 to £20,000 per annum, for a 2 or 3 year period, though our grant values have varied over time; our highest grant awarded in a single year was £600,000 and our lowest £250.
Our working team of Trustees, Andrew and John, supported by our Trust Co-ordinator, Joanne, visit prospective and current grantees as part of our due diligence and monitoring. We encourage grantees to set the parameters for use of grant, offering 95% of grantees either unrestricted funding or funding for core running costs. For grants over £5,000, we scrutinise due diligence material in quarterly Trustee Meetings attended by all Trustees and our Trust Co-ordinator. For project specific grants we request a brief proposal and budget aligned to the intended project expenditure.
Achievements and performance
In the last year, we continued to focus on supporting children, young people and older people, particularly those with dementia and their carers. We also continued our non-grant making work to:
help charitable organisations collaborate successfully to access funding;
connect with other funders, to reduce multiple applications by charitable organisations to multiple funders and to bring new funders to the attention of local charitable organisations
identify where governance and management changes might enable the charitable organisations we support to realise their ambitions more effectively.
We continued to make a number of small (“micro”) grants to community groups who deliver very localised support to their communities. We work with local councils, councillors and civil society infrastructure organisations to identify the community groups we support in this way. Those grants are typically £1,000 or less.
We collaborated with Sherburn House Charity (Reg Charity No. 1177535), a care home organisation in County Durham, to distribute £15,000 of their funding in £1,000 micro-grants to 15 charitable organisations supporting older people across the Northeast region.
Through the year we made grants totalling £3,457,328 (2023: £3,471,034) from income of £1,219,056 (2023: £1,504,832) with the remainder from capital.
At any one time, we have a number of multi-year grants for which we set aside designated funds. Information on these grants can be found at note 18 to the accounts. We renewed almost all of those relationships with grantees who were coming to the end of their grant period as well as identifying new grantees through our online application process.
Our grant-making and non-grant-making work has been well supported by our Trust Co-ordinator, Joanne.
Public benefit
The Trust operates for the public benefit. It supports charitable organisations by awarding grants.
We confirm that we have referred to the guidance produced by the Charity Commission on public benefit and are confident that the requirements are satisfied.
BALLINGER CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Financial review
Investments between balance sheet dates have increased in value this year from £57,014,228 to £59,029,866 reflecting that our portfolio of investments managed by Rathbones Group plc (“Rathbones”) increased in value.
In 2024, we received donations totalling £15,000 (2023: £240,000).
We expect to meet all designated funding commitments in the coming year and to continue to support those charitable organisations which fulfil our priorities.
Reserves Policy
Free reserves (being the funds available to the Trust) stand at £56,091,896 (2023: £53,392,183), equivalent to the total income funds less restricted funds, designated funds and tangible assets set out in the balance sheet. Those free reserves are used so that all grants can be paid in the normal course of business across the year, whilst covering the annual administrative costs and to ensure that there are funds available to respond to future applications in subsequent years.
Investment Policy
The Trust’s investment portfolio is held by Rathbones. We delegate responsibility for investment decisions to Rathbones on a discretionary basis.
The Trustees agree an Investment Policy Statement with Rathbones that describes how Rathbones will manage the portfolio. This statement is reviewed annually by the Trustees with Rathbones, and includes an appropriate risk profile for the investments managed on our behalf. Rathbones benchmark investment portfolio performance.
At year end the portfolio had increased in value.
Risk Management
We assess the Trust’s major risks and are satisfied that systems are in place to mitigate exposure.
The two major risks are:
Plans for the Future
We will continue to provide grants to charitable organisations that meet the priorities we have chosen to support.
In 2022, the Trustees decided to spend down the Trust’s total assets over a 20-year timeline, commencing in 2023. The implementation of this decision will be kept under annual review by the Trustees and in consultation with Rathbones.
The Trust is planning an incremental increase to the annual total grant-making in 2025, to a total of around £4,000,000.
Fundraising
We don’t carry out any fundraising, nor do we use professional fundraisers or subscribe to any scheme of fundraising regulation.
Going Concern
There are no uncertainties at the year-end regarding going concern.
BALLINGER CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Structure, governance and management
In 1994, Martin Ballinger set up an unincorporated charitable foundation, The Ballinger Charitable Trust, using part of his shares and dividend income from Go-Ahead Group plc, which he had co-founded in 1987 as Go Ahead Northern Limited, following the privatisation of the Northern Bus Company. The principal aims of the new foundation were to benefit the young and the old in the Northeast of England, the home territory of both Martin and Go Ahead Northern Limited. Martin's bequest of Go Ahead Group plc shares in 2007 increased the capital of the foundation and has enabled us to make £30,105,498 of grants since that date. That same year the foundation changed its constitution to become a company limited by guarantee and its Trustees became Directors of the company, governed by Company Law.
The Trust, being a company limited by guarantee, is governed by a memorandum and articles of association which govern eligibility for membership of the charity and membership of the Board of Trustees. There are no restrictions in the governing document on the operation of the charity or on its investment powers other than those imposed by general charity law. None of the Trustees has any beneficial interest in the company. All Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Key management personnel
The Trustees are responsible for the day to day management and control of the Trust and the overall direction of its work. Those who served during the year were:
Mrs D Ballinger
Mrs N Crowther
Mr A Ballinger
Mr J Flynn
The directors are still referred to in their day to day work as trustees. No trustee recruitment is currently taking place and we are not expecting to appoint new trustees.
Auditor
In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting. The report of the directors has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.
Disclosure of information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
The trustees' report was approved by the Board of Trustees.
Mrs D Ballinger
Trustee
Dated: 28 August 2025
BALLINGER CHARITABLE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
The trustees, who are also the directors of Ballinger Charitable Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these accounts, 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; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company 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 charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
BALLINGER CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF BALLINGER CHARITABLE TRUST
- 5 -
We have audited the financial statements of Ballinger Charitable Trust (the ‘charitable company’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
-
the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records; or
-
we have not received all the information and explanations we require for our audit.
BALLINGER CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BALLINGER CHARITABLE TRUST
- 6 -
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
BALLINGER CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BALLINGER CHARITABLE TRUST
- 7 -
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Joanne Regan FCA (Senior Statutory Auditor)
for and on behalf of Azets Audit Services
29 August 2025
Chartered Accountants
Statutory Auditor
Bede House
Belmont Business Park
DURHAM
United Kingdom
DH1 1TW
Azets Audit Services is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
BALLINGER CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
-
15,000
15,000
-
240,000
240,000
Investments
3
1,203,235
821
1,204,056
1,263,541
1,291
1,264,832
Total income
1,203,235
15,821
1,219,056
1,263,541
241,291
1,504,832
Expenditure on:
Raising funds
4
210,872
-
210,872
126,293
-
126,293
Charitable activities
5
3,465,633
58,873
3,524,506
2,960,277
589,769
3,550,046
Total expenditure
3,676,505
58,873
3,735,378
3,086,570
589,769
3,676,339
Net gains/(losses) on investments
11
4,117,001
-
4,117,001
2,641,791
-
2,641,791
Net incoming/(outgoing) resources before transfers
1,643,731
(43,052)
1,600,679
818,762
(348,478)
470,284
Gross transfers between funds
(44,050)
44,050
-
-
-
-
Net movement in funds
1,599,681
998
1,600,679
818,762
(348,478)
470,284
Fund balances at 1 January 2024
57,656,192
39,200
57,695,392
56,837,430
387,678
57,225,108
Fund balances at 31 December 2024
59,255,873
40,198
59,296,071
57,656,192
39,200
57,695,392
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BALLINGER CHARITABLE TRUST
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
699
873
Investments
14
59,029,866
57,014,228
59,030,565
57,015,101
Current assets
Debtors
15
-
14,949
Cash at bank and in hand
287,839
684,223
287,839
699,172
Creditors: amounts falling due within one year
16
(22,333)
(18,881)
Net current assets
265,506
680,291
Total assets less current liabilities
59,296,071
57,695,392
Income funds
Restricted funds
17
40,198
39,200
Unrestricted funds
Designated funds
18
3,163,278
4,223,936
General unrestricted funds
56,092,595
53,432,256
59,255,873
57,656,192
59,296,071
57,695,392
BALLINGER CHARITABLE TRUST
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 10 -
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 December 2024, although an audit has been carried out under section 144 of the Charities Act 2011.
The trustees are responsible for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year. They are also responsible for its incoming resources and application of resources, including its income and expenditure for the financial year in accordance with the requirements of sections 394 and 395, and for compliance with the requirements of the Companies Act 2006 relating to accounts, so far as applicable.
The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, 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 28 August 2025
Mr A Ballinger
Trustee
Company registration number 06428200
BALLINGER CHARITABLE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
21
(3,701,803)
(3,001,607)
Investing activities
Purchase of investments
(8,889,297)
(72,334,375)
Proceeds from disposal of investments
10,990,660
71,296,694
Investment income received
1,204,056
1,264,832
Net cash generated from investing activities
3,305,419
227,151
Net cash used in financing activities
-
-
Net decrease in cash and cash equivalents
(396,384)
(2,774,456)
Cash and cash equivalents at beginning of year
684,223
3,458,679
Cash and cash equivalents at end of year
287,839
684,223
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
1
Accounting policies
Company information
Ballinger Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Bede House, Belmont Business Park, DURHAM, DH1 1TW, United Kingdom.
1.1
Accounting convention
The financial statements have been prepared in accordance with the charitable company's governing document, 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 charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 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 charitable company 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 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.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.
1.4
Income
Income is recognised when the charitable company 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 charitable company 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.
Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
1.5
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to that grant are outside of the control of the Trust.
A provision for a multi-year grant is recognised at its present value where settlement is due over more than one year from the date of the award, there are no unfulfilled performance conditions under the control of the Trust that would permit the Trust to avoid making the future payment(s), settlement is probable, and the effect of discounting is material. The discount rate used is the rate offered on government bonds (gilts) for a commensurate or similar time period offered in the year in which the grant award is made.
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7
Fixed asset investments
Fixed asset investments are stated at market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. Disposals of investments are treated on a FIFO basis.
Dividends are included in the income and expenditure account when they are declared. Bank interest is included in the income and expenditure account on a receivable basis.
1.8
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
1.9
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
2
Donations and legacies
Restricted
Restricted
funds
funds
2024
2023
£
£
Donations and gifts
15,000
240,000
3
Investments
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Income from listed investments
1,199,759
-
1,199,759
1,182,112
-
1,182,112
Interest receivable
3,476
821
4,297
81,429
1,291
82,720
1,203,235
821
1,204,056
1,263,541
1,291
1,264,832
4
Raising funds
2024
2023
£
£
Investment management
210,872
126,293
210,872
126,293
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
5
Charitable activities
Total
Total
2023
2022
£
£
19,000
23,000
Grants made to institutions - Note 7
3,457,328
3,471,034
Share of support costs (see note 6)
31,793
44,012
Share of governance costs (see note 6)
16,385
12,000
3,524,506
3,550,046
Analysis by fund
Unrestricted funds
3,465,633
Restricted funds
58,873
3,524,506
For the year ended 31 December 2023
Unrestricted funds
2,960,277
Restricted funds
589,769
3,550,046
6
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£
Staff costs
22,755
-
22,755
21,767
-
21,767
Depreciation
174
-
174
219
-
219
1,104
-
1,104
5,219
-
5,219
425
-
425
396
-
396
5,500
-
5,500
14,380
-
14,380
17
-
17
79
-
79
1,112
-
1,112
1,261
-
1,261
110
-
110
130
-
130
596
-
596
561
-
561
Audit fees
-
16,385
16,385
-
12,000
12,000
31,793
16,385
48,178
44,012
12,000
56,012
Analysed between
Charitable activities
31,793
16,385
48,178
44,012
12,000
56,012
Governance costs includes payments to the auditors of £16,385 (2023 - £12,000) for audit fees.
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
7
Grants payable
Grants were made during the year to institutions, of which the following exceeded £20,000 per annum:
2024
2023
£
£
700 Club
20,000
20,000
A Way Out
20,000
20,000
Activity Den
-
20,000
Age Concern Co Durham
20,000
-
Age Concern South Tyneside
-
20,000
Age UK Gateshead
20,000
20,000
Age UK North Tyneside
20,000
20,000
AIM North East
20,000
20,000
Allendale Youth Ambition
-
22,500
Ashington Veterans & Elders Institute
21,000
-
Bell View Belford
20,000
-
Bensham Grove Community Centre
43,873
-
Berwick Youth Project
20,000
20,000
Big League CIC
20,000
-
Blyth Tall Ship
20,000
20,000
Brandon Carrside Youth & Community
-
25,000
Breckon Hill Community Enterprise
20,000
20,000
Bright Futures NE
20,000
20,000
Bullion Community Resource Centre
20,000
20,000
Carers' Trust
20,000
20,000
Changing Futures North East
20,000
20,000
Cheesy Waffles Project
-
20,000
Chopwell Community Association
20,000
22,750
Chopwell Regeneration CIO
30,000
-
Churches Together South Tyneside
-
22,000
Coatham House
20,000
20,000
Community Campus
25,000
25,000
Coping with Cancer NE
-
20,000
Corner House Youth Project
25,000
25,000
Cowpen Quay Community Association
20,000
20,000
Cramlington Voluntary Youth Project
25,000
25,000
Creative Youth Opportunities CIC
-
25,000
D2 Youth Zone
20,000
20,000
Denton Youth & Community Project
20,000
20,000
Derwentside Detached Youth
30,000
33,000
Dry Water Arts CIC
-
20,000
Durham Area Youth
20,000
30,000
Durham Community Action
-
20,062
Durham County Carers Support
20,000
-
Easington Lane Community Access Point
21,000
20,000
East Cleveland Youth Housing Trust
20,000
20,000
East Durham Employability Trust
50,000
20,000
Eastern Ravens Trust
20,000
20,000
Edberts House
20,000
20,000
Epic Teesside CIC
20,000
20,000
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Grants payable
(Continued)
- 17 -
Family Gateway
20,000
20,000
First Stop Darlington
20,000
20,000
Fishburn Youth & Community Centre
20,000
30,000
Footprints in the Community
20,000
20,000
Gateshead 50+
20,000
20,000
Groundworks
20,000
-
Halo Project
20,000
20,000
Hartlepool Carers
-
20,000
Heart Wood
-
25,000
Integrating Children
-
25,000
Key Community Ltd
20,000
20,000
Key Fund Federation
20,000
20,000
Kids Kabin
20,000
25,219
Kidz Konnekt
20,000
20,000
Kilmarnock Road Children & Young People Family Resource Centre
20,000
20,000
Kinship
21,000
20,000
Linx Youth Project
25,000
25,000
Mind Active
21,000
20,000
Newcastle Carers
20,000
20,000
Newton Aycliffe Youth & Community
-
25,000
North East Dementia Care
20,000
20,000
North East Young Dads and Lads
20,000
20,000
North Tyne Youth
20,000
-
North Tyneside Carers' Centre
20,000
20,000
North Tyneside Disability Forum
20,000
20,000
Northumbria Coalition Against Crime
20,000
20,000
Pallion Action Group
20,000
20,000
Patchwork Project
20,000
20,000
Pathways 4 All
20,000
20,000
Pelton Community Association
-
22,000
Projects 4 Change
20,000
20,000
Redcar & Cleveland Mind
-
20,000
Redcar Development Trust
20,000
20,000
Royal Voluntary Service
25,000
-
Sacriston Youth Project
20,000
30,000
Seahouses Development Trust
20,000
20,000
Search
20,000
34,000
Shotton Partnership
-
27,940
Silverline Memories
20,000
20,000
Smile for Life
20,000
20,000
St Chad's Community Project
20,000
20,000
St Paul's Community Partnership
20,000
20,000
STAMP Revisited
20,000
20,000
Stanley Area Youth Consortium
-
30,000
Streetwise Young People's Project
25,000
25,000
Sunderland All Together Consortium
180,000
180,000
Sunderland Bangladesh International Centre
20,000
20,000
Teams Life Centre
27,000
-
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Grants payable
(Continued)
- 18 -
Tees Esk & Wear Valley NHS Foundation Trust
20,000
20,000
Tees Valley Women's Centre
20,000
20,000
Teesside Mind
20,000
-
The Meadows
20,000
20,000
UTASS
20,000
20,000
Wansbeck CVS
-
35,456
Wearside Women in Need
20,000
-
Wheatley Hill Community Association
20,000
30,000
Women's Health in South Tyneside
20,000
20,000
Woodhouse Close Church & Community Centre
21,000
20,000
Woodshed Workshop CIC
20,000
45,000
YMCA Northumberland
20,000
20,000
Young Asian Voices
20,000
-
Young Women's Outreach Project
20,000
20,000
Total Grants made to institutions of less than £20,000 per annum
1,406,507
1,261,107
3,442,380
3,471,034
8
Auditor's remuneration
Fees payable to the charitable company's auditor and associates:
2024
2023
£
£
Audit of the charitable company's annual accounts
16,385
12,000
9
Trustees
John Flynn received £20,000 (2023: £23,000) from the charity in lieu of lost income for his time spent on work for the charity during the year, and was also reimbursed £17 for travel expenses incurred (2023 - £79). The trustees believe this sum is a worthwhile cost due to the value of expertise Mr Flynn provides to the charity.
10
Employees
The average monthly number of employees during the year was:
2024
2023
Number
Number
1
1
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Employees
(Continued)
- 19 -
Employment costs
2024
2023
£
£
Wages and salaries
22,283
21,302
Other pension costs
472
465
22,755
21,767
There were no employees whose annual remuneration was more than £60,000.
11
Net gains/(losses) on investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Revaluation of investments
3,775,865
2,030,257
Gain/(loss) on sale of investments
341,136
611,534
4,117,001
2,641,791
12
Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
13
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2024
2,886
At 31 December 2024
2,886
Depreciation and impairment
At 1 January 2024
2,013
Depreciation charged in the year
174
At 31 December 2024
2,187
Carrying amount
At 31 December 2024
699
At 31 December 2023
873
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
14
Fixed asset investments
Listed investments
£
Cost or valuation
At 1 January 2024
57,014,228
Additions
8,889,297
Valuation changes
3,775,865
Disposals
(10,649,524)
At 31 December 2024
59,029,866
Carrying amount
At 31 December 2024
59,029,866
At 31 December 2023
57,014,228
Fixed asset investments revalued
Listed investments are included at their market value as at the balance sheet date using the closing quoted market price. The historic cost of the investments at the balance sheet date was £52,500,375 (2023: £54,321,605). No individual holdings are greater than 5% of the total portfolio.
15
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
14,949
16
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
22,333
18,881
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
17
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds prior year
Movement in funds
Balance at
1 January 2023
Balance at
1 January 2024
Transfers
Balance at
31 December 2024
£
£
£
£
£
£
£
£
Participatory Grant making with Lankelly Chase
100,423
828
(18,000)
83,251
820
(43,873)
-
40,198
The National Lottery Community Fund – RC North East and Cumbria Region
287,255
240,463
(571,769)
(44,051)
-
-
44,051
-
Sherburn House Charity
-
-
-
-
15,000
(15,000)
-
-
387,678
241,291
(589,769)
39,200
15,820
(58,873)
44,051
40,198
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 23 -
18
Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
Movement in funds
Balance at 1 January 2024
Transfers
Resources expended
Balance at 31 December 2024
£
£
£
£
700 Club
20,000
(20,000)
-
A Way out
40,000
(20,000)
20,000
A1 Steam Locomotive Trust
-
1,000
(1,000)
-
Acorns Project
30,000
(15,000)
15,000
Action on Dementia
15,000
(15,000)
-
Action Station South Tyneside
-
1,000
1,000
Active Families NE CIC
-
25,000
(12,500)
12,500
The Activity Den
20,000
(10,000)
10,000
Advice at Hart CIC
15,000
(15,000)
-
Age Concern County Durham
-
60,000
(20,000)
40,000
Age Concern South Tyneside
40,000
(21,000)
(19,000)
-
Age UK Gateshead
40,000
(20,000)
20,000
Age UK North Tyneside
40,000
(20,000)
20,000
Age UK Sunderland
-
60,000
60,000
AIM North East
40,000
(20,000)
20,000
Allendale Youth Ambition
25,000
(12,500)
12,500
Apna Ghar
20,000
(10,000)
10,000
Ashington Veterens & Elders Institute
-
20,000
(20,000)
-
Aspire Learning Support & Wellbeing
-
15,000
(15,000)
-
Bell View
-
60,000
(20,000)
40,000
Berwick Youth Project
40,000
(20,000)
20,000
Big League CIC
-
20,000
(20,000)
-
Bilton Hall Community Trust
10,000
2,500
(12,500)
-
Birtley Community Association
10,000
10,000
Bishop Auckland Community Partnership
-
19,500
(12,000)
7,500
Blaydon Youth and Community Centre CIO
-
30,000
(15,000)
15,000
Blyth Tall Ship
40,000
(20,000)
20,000
Boltons Bungalows Residents Association
-
1,000
(1,000)
-
Bowburn Youth Project
-
20,000
(10,000)
10,000
Brandon Carrside Youth & Community
15,000
(15,000)
-
Breathe Easy Darlington
-
10,000
(5,000)
5,000
Breckon Hill Community Enterprise
40,000
(20,000)
20,000
Bridge Creative CIC
-
10,000
(10,000)
-
Bright Futures NE
40,000
(20,000)
20,000
Bullion Community Resource Centre
20,000
(20,000)
-
Carers' Trust
40,000
(20,000)
20,000
Changing Futures NE
20,000
(20,000)
-
Cheesy Waffles Project
20,000
(10,000)
10,000
Chopwell Community Association (Youth Club)
40,000
(20,000)
20,000
Chopwell Regeneration Group
15,000
45,000
(30,000)
30,000
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18
Designated funds
(Continued)
- 24 -
Chrysalis Tynedale
10,000
(10,000)
-
Churches Together South Tyneside
30,000
(15,000)
15,000
Cleveland Alzheimers Residential Centre
-
30,000
30,000
Close knit Families
-
1,000
(1,000)
-
Coatham House
20,000
(20,000)
-
Community @ NE66
-
30,000
(15,000)
15,000
Community Campus 87
50,000
(25,000)
25,000
Community Counselling Cooperative
-
10,000
(10,000)
-
Community Stepping Stones CIC
10,000
(10,000)
-
Coping with Cancer NE
20,000
(20,000)
-
Corner House Youth Project
50,000
(25,000)
25,000
Cornerstone
-
14,000
(7,000)
7,000
Cornforth Partnership
-
30,000
(15,000)
15,000
Cowpen Quay Community Association
40,000
(20,000)
20,000
Cramlington Voluntary Youth Project
50,000
(25,000)
25,000
Creative Youth Opportunities CIC
15,000
(15,000)
-
D2 Youth Zone
40,000
(20,000)
20,000
Darlington Association on Disability
15,000
(15,000)
-
Darlington CAP
15,000
(15,000)
-
Denton Youth & Community Project
20,000
(20,000)
-
Derwentside Detached Youth
15,000
30,000
(30,000)
15,000
Dry Water Arts CIC
40,000
40,000
Durham Area Youth
40,000
(20,000)
20,000
Durham City Youth Projects
-
45,000
(15,000)
30,000
Durham Community Action
-
9,800
(9,800)
-
Durham County Carers Support
-
60,000
(20,000)
40,000
Durham Deafened Support
-
30,000
(15,000)
15,000
Easington Lane Community Access Point
40,000
(20,000)
20,000
East Cleveland Youth Housing Trust
20,000
(20,000)
-
East Durham Employability Trust
115,000
(50,000)
65,000
East Durham Veterans Trust
10,000
(10,000)
-
Eastern Ravens Trust
20,000
(20,000)
-
Eastlea Community Centre
10,000
10,000
Edbert's House
40,000
(20,000)
20,000
Epic Teesside CIC
40,000
(20,000)
20,000
Escape Intervention Services
-
20,000
(10,000)
10,000
Family Fitness & Food CIC
-
1,000
(1,000)
-
Family Gateway
20,000
(20,000)
-
Fighting All Cancers Together
-
34,000
(17,000)
17,000
First Stop Darlington
40,000
(20,000)
20,000
Fishburn Youth & Community Centre
20,000
(20,000)
-
Five Lamps Organisation
-
30,000
30,000
Food Nation CIC
-
10,000
(5,000)
5,000
Footprints in the Community
-
40,000
(20,000)
20,000
Ford Parish Council
-
210
(210)
-
Friends Action North East
-
30,000
(15,000)
15,000
Friends of Jesmond Library
-
4,500
(4,500)
-
Future Regeneration of Grangetown
-
20,000
(10,000)
10,000
Gateshead 50+
40,000
(20,000)
20,000
Gateshead FC Community Foundation
-
10,032
(5,032)
5,000
Going for Independence
-
14,000
(7,000)
7,000
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18
Designated funds
(Continued)
- 25 -
The Grenfell Club
-
30,000
(15,000)
15,000
Groudwork South Tyneside
-
60,000
(20,000)
40,000
Halo Project
20,000
(20,000)
-
Happy Faces Prudhoe
-
1,000
(1,000)
-
Hardwick in Partnership
-
30,000
(15,000)
15,000
Hart Gables
-
30,000
(15,000)
15,000
Hartlepool Carers
40,000
40,000
Hartlepool Vision Support
-
30,000
30,000
Hartlepower
20,000
11,977
(11,977)
20,000
Hazelwell Centre
-
35,356
(17,678)
17,678
Heart Wood
30,000
(15,000)
15,000
Heel & Toe Childrens Charity
-
36,000
(18,000)
18,000
Hetton New Dawn
15,000
(15,000)
-
Hexham Youth Initiative
-
45,000
(15,000)
30,000
Hospice Care North Northumberland
-
60,000
60,000
Hope Church East Cleveland
20,000
(10,000)
10,000
HOPS Healing Opportunities
15,000
(15,000)
-
Houghton le Spring Residents Association
-
1,000
(1,000)
-
Houghton Racecourse Community Association
-
1,000
(1,000)
-
Impact Family Services
30,000
(15,000)
15,000
Integrating Children
30,000
(15,000)
15,000
Jewish Community Council of Gateshead
-
20,000
20,000
Jubilee Fields Community Association
-
20,000
20,000
KAYAKS
-
8,990
(8,990)
-
Key Community Ltd
40,000
(20,000)
20,000
Key Fund Federation
20,000
(20,000)
-
Kids Kabin
20,000
(20,000)
-
Kidz Konnekt
40,000
(20,000)
20,000
Kilmarnock Road Children & Young People Family Resource Centre
40,000
(20,000)
20,000
Kinship (previously called Grandparents Plus)
-
61,000
(21,000)
40,000
Laurel Avenue Community Association
-
20,000
(10,000)
10,000
Lilyannes Wellbeing
15,000
(15,000)
-
Linskill Centre
17,000
(17,000)
-
Linx Youth Project
50,000
(25,000)
25,000
Little Treasures
10,000
(10,000)
-
Longbenton Youth Project
16,480
(16,480)
-
Longhoughton Community & Sports Centre Trust
-
1,020
(1,020)
-
Love Dunston
-
30,000
30,000
Lowick Heritage Group
-
240
(240)
-
Macrae House Community Centre
5,000
(5,000)
-
Marie Curie Wellbeing Centre
-
20,000
20,000
The Meadows
40,000
(20,000)
20,000
Mind Active
40,000
(20,000)
20,000
Mind and Sole
15,000
(15,000)
-
More than Grandparents
-
20,000
(10,000)
10,000
My Sister's Place
-
60,000
60,000
Natural Ability
15,000
(15,000)
-
NE Youth
40,000
(20,000)
20,000
New Hope North East
15,000
(15,000)
-
Newcastle Carers
20,000
(20,000)
-
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18
Designated funds
(Continued)
- 26 -
Newsham & New Delaval Youth Forum
-
20,000
(10,000)
10,000
Newton Aycliffe Youth & Community
15,000
(15,000)
-
Nite Light CIC
15,000
(15,000)
-
North East Autism Society
-
10,000
(10,000)
-
North East Dementia Care
20,000
(20,000)
-
North East Young Dads & Lads
40,000
(20,000)
20,000
North Tyne Youth
-
63,600
(23,600)
40,000
North Tyneside Carers' Centre
40,000
(20,000)
20,000
North Tyneside Disability Forum
40,000
(20,000)
20,000
Northbourne Street Youth Initiative
24,000
(12,000)
12,000
Northumberland Community Enterprise
12,500
(12,500)
-
Northumberland Domestic Abuse Service
-
45,000
(15,000)
30,000
Out of Sight
25,000
(12,500)
12,500
Pallion Action Group
20,000
(20,000)
-
Patchwork Project
40,000
(20,000)
20,000
Pathways 4 All
40,000
(20,000)
20,000
Pelton Community Association
-
45,000
(15,000)
30,000
Pelton Fell Community Partnership
-
30,000
(15,000)
15,000
People & Drugs
30,000
(15,000)
15,000
Phoenix Detached Youth Project
15,000
(15,000)
-
Projects 4 Change
40,000
(20,000)
20,000
Prudhoe Youth Project
-
30,000
(15,000)
15,000
Rape & Sexual Abuse Counselling Centre
-
20,000
20,000
Rape Crisis Tyneside & Northumberland
30,000
(15,000)
15,000
Redcar & Cleveland Borough Council
-
10,300
(10,300)
-
Teesside Mind
20,000
(20,000)
-
Redcar Development Trust
40,000
(20,000)
20,000
Rotary Club of Consett
-
1,000
(1,000)
-
Royal Voluntary Service
50,000
(25,000)
25,000
Rubies
15,000
(15,000)
-
Sacriston Youth Project
40,000
(20,000)
20,000
Seaham Youth and Community
-
20,000
(10,000)
10,000
Seahouses Development Trust
40,000
(20,000)
20,000
Search
41,000
35,000
(37,500)
38,500
Sense Ability Matters Ltd
-
30,000
30,000
Senses Wellbeing Centre
-
10,000
(5,000)
5,000
Shiney Advice & Resource Project
15,000
(15,000)
-
Shiremoor Adventure Playground Trust
-
32,000
(16,000)
16,000
Shotton Partnership
37,600
(18,500)
19,100
Silverline Memories
20,000
(20,000)
-
Smile for Life
40,000
(20,000)
20,000
SNAPS
10,000
(10,000)
-
South Hylton Tansy Centre
10,000
(10,000)
-
South Stanley Partnership
10,000
(10,000)
-
Springwell Community Hub
10,000
(10,000)
-
Springwell Village Community Venue
10,000
(10,000)
-
St Ann's Partnership
12,000
(12,000)
-
St Anthony's Youth Education & Support
35,000
35,000
St Chad's Community Project
40,000
(20,000)
20,000
St Martin's Centre Partnership
-
30,000
(15,000)
15,000
St Paul's Community Partnership
40,000
(20,000)
20,000
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18
Designated funds
(Continued)
- 27 -
STAMP Revisited
-
60,000
(20,000)
40,000
Stockton Men's Shed
-
1,000
(1,000)
-
Streetwise Young People's Project
50,000
(25,000)
25,000
Sunderland All Together Consortium
360,000
(180,000)
180,000
Sunderland Bangladesh International Centre
40,000
(20,000)
20,000
Sunderland Samaritans
5,000
(5,000)
-
Tanga Club
-
15,000
(7,500)
7,500
Teams Life Centre (Dunston Family Church)
12,000
45,000
(27,000)
30,000
TEES Community Hub CIO
17,500
(17,500)
-
Tees Esk & Wear Valley NHS Foundation
20,000
(20,000)
-
Tees Valley Women's Centre
40,000
(20,000)
20,000
Teesdale Community Resources (Making Memories)
-
6,000
(6,000)
-
Teesdale Day Clubs
15,000
(15,000)
-
Teesside Dementia Link Services
15,000
(15,000)
-
Timbadash CIC
5,000
(5,000)
-
Upper Coquetdale Community Transport
45,000
45,000
Upper Teesdale Agricultural Support Service
40,000
(20,000)
20,000
Useful Vision
15,000
(15,000)
-
Veterans in Crisis
15,000
(15,000)
-
Wag and Co North East Friendship
-
25,000
(12,500)
12,500
Wansbeck CVS
-
15,304
(15,304)
-
Weardale Together CIC
10,000
(10,000)
-
Wearside Women in Need
-
60,000
(20,000)
40,000
Weights and Cakes CIC
-
10,000
10,000
West View Project
15,000
(15,000)
-
The Wharton Trust
-
45,000
(15,000)
30,000
Wheatley Hill Community Association
-
60,000
(20,000)
40,000
Whippet Up CIC
15,000
(15,000)
-
Whitley Bay Young People's Centre
-
20,000
(10,000)
10,000
Women's Health in South Tyneside
40,000
(20,000)
20,000
Woodhouse Close Church & Community Centre
40,000
(20,000)
20,000
Woodshed Workshop CIC
20,000
(20,000)
-
Wooler Drop In
10,000
(10,000)
-
Yarm Wellness
5,000
(5,000)
-
YMCA North Tyneside
-
14,948
(14,948)
-
YMCA Northumberland
40,000
(20,000)
20,000
YMCA Tees Valley
13,856
(13,856)
-
Young Asians Voices
-
60,000
(20,000)
40,000
Young Women's Outreach Project
40,000
(20,000)
20,000
Youth Focus North East
30,000
(15,000)
15,000
4,223,936
2,337,797
(3,398,455)
3,163,278
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18
Designated funds
(Continued)
- 28 -
General
Our Designated funds decreased in 2024 to £3,163,278 (2023: £4,223,936).
This decrease is because a significant number of multi-year grants were awarded in 2023. Of those, a number of two-year grants awarded in 2023 were transferred in full by year end 2024, and a number of three-year grants awarded in 2023 have only the final third year grant designated to be transferred in 2025.
Sunderland All Together Consortium CIO (SATC)
In 2015, local youth work organisations in Sunderland came together to develop a collective approach on how to overcome various challenges and best support the children and young people of Sunderland. The member organisations developed their consortium into a charitable incorporated organisation that's now equipped and prepared to build a sustainable future for youth work services. The Sunderland All Together Consortium (SATC) formally registered as a charitable incorporated organisation in February 2019.
The 7 current member organisations are Bluewatch Youth Centre, Lambton Street Youth Centre, Oxclose & District Young Peoples Project, Community Opportunities, Southwick Neighbour-hood Youth Project, The Box Youth Project and Youth Almighty Youth Project.
The Ballinger Charitable Trust awarded a new 3 year grant of £180,000 per annum to the consortium in 2023 to; support core costs of the 7 members, support the core costs of the consortium itself and to help the consortium engage with and support other youth providers in the city of Sunderland.
East Durham Employability Trust
The Ballinger Charitable Trust commenced grant support of this registered charity in 2018.
The East Durham Employability Trust was created to address the training and development needs of young people, whilst also addressing the issue of cyclical unemployment by creating a generation of young people who will become positive role models for future generations.
It operates as a subcontract manufacturing and warehousing resource centre business which allows it to offer both training and practical real-life business and work experience for trainees with the possibility of direct job opportunities both within the organisation and externally with local employers.
In 2023, The Ballinger Charitable Trust awarded a multi-year grant that would allow the charity to increase its capacity to support more young people through its structured training and development programmes.
19
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Fund balances at 31 December 2024 are represented by:
Tangible assets
699
-
699
873
-
873
Investments
59,029,866
-
59,029,866
57,014,228
-
57,014,228
Current assets
225,307
40,199
265,506
641,091
39,200
680,291
59,255,872
40,199
59,296,071
57,656,192
39,200
57,695,392
BALLINGER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 29 -
20
Related party transactions
Fees in the sum of £19,000 (2023: £23,000) were paid to Mr J Flynn a trustee of The Ballinger Charitable Trust.
21
Cash generated from operations
2024
2023
£
£
Surplus for the year
1,600,679
470,285
Adjustments for:
Investment income recognised in statement of financial activities
(1,204,056)
(1,264,832)
Gain on disposal of investments
(341,136)
(611,534)
Fair value gains and losses on investments
(3,775,865)
(2,030,257)
Depreciation and impairment of tangible fixed assets
174
219
Movements in working capital:
Decrease in debtors
14,949
501,034
Increase/(decrease) in creditors
3,452
(66,522)
Cash absorbed by operations
(3,701,803)
(3,001,607)
The charitable company had no debt during the year.
22
Analysis of changes in net funds
The charitable company had no debt during the year.
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