THE BRAIN TRUST UMITED
tharlty No. 1001012
Trustees. Report and Unaudlted Accounts
31 March 2024

THE BRAIN TRUST LIMITED
Contents
Pages
2tD3
Trustees, Annual Report
Independent Examiner's Report
Statement of Flnanclal Act5vltles
Balance Sheet
Statement of Cash flows
14
Notes to the Accounts
7t013
Detalled Statement of Flnanclal Actlvitles
15to16
Page I

THE BRAIN TRUST UMITED
Trustees Annual Report
The trustees present thelr report with the unaudited financlal statements of the charlty for the year ended
31 March 2024.
REFERENCE AND ADMINISThATIVE DETAILS
Charlty No. 1001012
Prlnclpal Offlce
86 Clapham Common
North Slde
London
SW4 95E
Trustees
The followlng trustees served during the year:
J.S. Eales
J.C, Hoarau
A.P.S. Keene
R.D. Keene OBE
M. Llsiak
J.l.P. Simpole
M. Tashanllgll
Independent Examlner
Asmita & Associates Ltd
114-116 Plumstead Hlgh Street
Plumstead
London
SE18 ISJ
Bankers
Coutts Bank
OBJECTIVES AND ACTivmES
The princ5pal objectlve of the charity is to promote education and tralnlng in cognitive technlques to
rnaximi5e the ability of each and every IndSvldual to unlock and deploy the vast capacity of his or her brain.
The charitable ob)ectlves are to promote research Into the study of thou8ht process, the investlgatlon of the
mechanlsms of thlnklng, manifested In learning• under5tandin& communlcatlon, problem solvln& creatlvlty
and decision makin81 to d155emlnate the results of such research and study and to promote 8enerally
educatlon and tralnlng In cognitive processes and techniques and to develop and exploit new technlques In
CO8nltive processes.
The charity does not undertake actlvlties directly. However it makes grants to those institutions working to
achleve the same objectives and raises awareness through Its fundraisin8. All 8rants made are for the publlc
benefit in pursuance of the charity's objectives.
Statement of trustees, responslbilitie5 In relatlon to the flnanclal 5tatsment$
Page 2

THE BRAIN TRUST LIMITED
Trustees Annual Report
The charitytrustees are responsible for preparing a trustees, annual report and flnandal statements in
accordance with applicable law and Unlted Kin8dom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The trustees are responslble for keeping proper accountln8 records that disclose with reasonable accuracy at
any time the financlal position of the charlty and to enable them to ensure that the financial statements
comply with the Charities Act 2011, the applicable Charltles (Accounts and Reports) Re8ulatlons. and the
provislons of the Trust deed. The Trustees are also responslble for safeguarding the assets of the charlty and
hence taklng reasonable steps for the preventlon and detection of fraud and other Irregularities.
Slgned on behalf of the charity's trustees
eene OBE
Trustee
09 Ortober 2024
Page 3

THE BRAIN TRUST LIMITEO
Independent Examlners Report
Independent Examlner's Report to the trustees of THE BRAIN TRUST LIMITED
I report to the trustees on my examination of the flnancial statements of THE BRAIN TRUST LIMITED for the
year ended 31 March 2024.
Responslbllltles and basls of report
As the charity's trustees you are responsible for the preparation of the financial Statements in accordance
with the requirements of the Charities Act 20111'the Act'l.
I report in respect of my examlnatlon of the charlty's financ5al statements carried out under section 145 of
the 2011 Act and In carrylng out my examination I have followed all the appllcable Directlons glven by the
Charlty Commlsslon under sectlon 145(5){bl of the Act.
Independent examlner's statement
I have completed my examinatSon. I can conflrm that no materlal matter5 have come to my attention in
connectlon wlth the examlnation glvlng me cause to believe that In any materlal respect:
the accounting records were not kept In respect of the charlty as required by sectlon 130 of the Act; or
the financlal statements do not accord with those records,. or
the financial statements do not comply wlth the applicable requirements concernlng the form and
content of flnanclal statements set out in the Charities (Accounts and Reports) Regulatlons 2008 other
than any requirement that the flnanclal statements glve a 'true and falr, vlew whlchls not a matter
considered a5 part of an independent examlnatlon.
I have no concerns and have come across no other matters In connectlon wlth the examination to whlch
attentlon should be drawn In thls report In order to enable a proper understandin8 of the flnancial
statements to be reached.
LN Pandey FCA, M.Sc.
Asmita & Associates Ltd
114-116 Plumstead Hl8h St
Plumstead
London
SE18 ISJ
09 October 2024
Page 4

THE BRAIN TRUST LIMITED
Statement of FlnancSal Activities
for the year ended 31 March 2024
Unrestrlcted
funds Total funds Total funds
2024
2024
2023
Notes
Income and endowments
froffl:
Donatlons and legacies
Other
41,348
21,086
41,348
21,086
21,279
Total
62,434
62.434
21,279
Expendlture on:
Charltable activities
Other
50,230
7,878
50,230
7,878
65,103
6,009
Total
58,108
58,108
71,112
Net galns on Investments
Net In¢omel(expendlture)
Transfers between funds
4,326
4,326
149,833)
Net Incomel(expendltyre)
before other Kaln$/(losses1
4,326
4,326
(49,833)
other Kaln5 and1055e5
Net movement In fund5
4,326
4,326
(49.833)
Reconclllatlon of funds:
Total funds brought forward
(42,335)
142,3351
7,498
Total fund$ earrled forward
(38,009)
(38,0091
142,3351
Page 5

THE BRAIN TrUST LIMITED
Balance Sheet
at 31 March 2024
Charlty No. 1001012
2024
2023
Current assets
Cash at bank and In hand
1,926
1,926
{5,400)
{3,474)
(3,474)
134,535)
138,009)
{38,009)
3,001
3.001
(5.400)
(2,399
12,399)
{39.936)
(42,3351
(42,335
Credltors: Amount falling due within one year
Net current Ilabllltles
li
Total assets less current Ilabllltles
Credltors: Amounts fallln8 due after more than one year
Net Ilab511tFes excludlne penslon asset or Ilablllty
Total net Ilabllltles
12
The funds of the charlty
Restrlcted funds
Unre5trFrted funds
General funds
13
13
(38,009)
(38,009)
142,335)
142.3351
13
Total lunds
138,IX)9)
42,335
Approved by the trustees on 09 October 2024
And signed on their behalf by:
eene OBE
Trustee
09 October 2024
Page 6

THE BRAIN TRUST LIMITEO
Notes to the Account5
for the year ended 31 March 2024
l Accountln8 polldes
Basls of preparatlon
The financlal statements have been prepared In accordance with Statement of Recommended Practice:
Accounting and Reportin8 by Charltles preparing their accounts In accordance wlth the Financial
Reporting Standard appllcable in the UK and Republlc if Ireland (FRS 102) issued on 16 July 2014 and
the Flnanclal Reportlng Standard appllcable In the United Klngdom and Republic of Ireland (FRS 102)
and the Charltles Act 2011.
Chanie In bas1$ of accountlns or to prevlous accounts
There has been no change to the accounting pollcles Ivaluatlon rules and method of accountlng) slnce
last year and no chan8es have been made to accounts for prevlous years.
Fund a¢¢ountlng
Unrestricted funds
These are avallable for use at the dlscretlon of the trustees In furtherance of the
general objects of the charlty.
These are unrestricted funds earmarked by the trustees for partlcular purposes.
These are unrestricted funds whSch include a revaluation reserve representlng
the restatement of Investment assets at their market values,
These are avallable for use subject to restrictions Imposed by the donor or
through term5 Of an appeal.
Designated funds
Revaluatlon funds
Restflcted funds
In¢om•
Reco8nltlon of
Income
Income Is included in the Statement of Flnanclal Activitie5 ISOFA) when the
charity becomes entitled to, and vlrtually certaln to recelve, the Income and the
amount of the Income can be measured with sufflclent reliability.
Income wlth related Where Income has related expenditure the Income and related expendlture Is
expenditure
reported 8ross In the SOFA.
Donatlons and
legacles
Voluntary income recelved by way of grants, donations and 8lfts Is Included In
the the SOFA when recelvable and only when the Charity has un¢ondltlonal
entitlement to the income.
Tax reclaims on
Income from tax reclalms is included In the SOFA at the same tlme as the
donatlons and gifts
glft/donation to whlch It relates.
Donated services and These are only included In Income Iwlth an equlvalent amount In expendlture)
facilitles
where the benefit to the Charlty15 reasonably quantlfiable, measurable and
material.
The value of any volunteer help recelved Is not included In the accounts.
This is Included In the accounts when recelvable.
Thls Includes any galn or loss resulting from revalulng investments to market
value at the end of the year.
Volunteer help
Investment Income
Galns/{losses) on
revaluation of fixed
assets
Gains/(losses) on
investment assets
Thls Includes any 8ain or loss on the sale of Investments.
Page 7

THE BRAIN TRUST LIMITED
Notes to the Accounts
Expendlture
Recognition of
expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT
which cannot be fully recovered, and is reported as part of the expendlture to
which it relates.
These comprlse the costs a550clated with attractlng voluntary income,
fundralsln8 tradlng costs and Investment management costs.
These Comprise the costs incurred by the Charity in the delivery of Its actlvities
and servlces in the furtherance of Its objects. Including the making of grants and
8overnance costs.
All grant expenditure Is accounted for on an actual paid basis plus an accrual for
grants that have been approved by the trustees at the end of the year but not
yet pald,
These Include those costs a550clated wlth meetlng the constltutlonal and
statutory requirements of the Charity. including any audlt/independent
examinatlon fees, costs Ilnked to the strate8lc mana8ement of the Charity,
together with a Share of other administration c05t5.
These are support costs not allocated to a partlcular activlty.
Expendlture on
raising funds
Expenditure on
charitable activities
Grants payable
Governance costs
Other expenditure
TaJ(atlon
The charlty is exempt from tax on its charltable artlvltles.
Fr••hold Investment propèrty
Investment propertles are measured Inltially at cost and subsequently at fair value at each balance
Sheet date and are not depreciated, All 8ains cr1055es are taken to the Statement of Flnanclal
Actlvltles as they arlse.
Stocks
Stock is included at the lower of cost or net realisable value. Donated Items of stock are recogni5ed at
fair value which Is the amount the charity would have been willing to pay for the Items on the open
market.
Trade and other debtors
Trade and other debtor5 are recognlsed at the settlement amount due after any trade dlscount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equlvalent$
Cash and cash equivalents comprise cash at bank and on hand, demand deposlts with banks and other
short-term hlghly Ilquid investments wlth origlnal maturltles of three months or less and bank
overdrafts. In the statement of flnanclal positlon. bank overdrafts are shown within borrowlngs or
current liabillties. In the Statement of Cash Flows, cash and cash equlvalents are shown net of bank
overdrafts that are repayable on demand and form an Integral part of the company's cash
mana8ement.
Page 8

THE BRAIN TRUST LIMITED
Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other credltors and provlslons are
recognised where the charity has a present obllgatlon 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 obli8ation can be
measured or estimated reliably. Credltors and provi5ion5 are normally recoEnlsed at thelr settlement
amount after allowing for any trade dlscounts due.
Research and development
Expenditure on research and development Is written off in the year Sn whlch It Is Incurred.
Forel8n currencles
Monetary assets and Ilabllltles denomlnated in currencies other than the functlonal currency of the
charlty are translated at the rates of exchan8e prevalllng at the end of the reportlng perlod.
Transactlons In currencies other than the functional currency of the charity are recorded at the rate of
exthange on the date that the transaction cccurred.
All exchange differences are are taken Into account in arriving at net Incomelexpendlture.
Leased assets
Where the charity enters Into a lease which entails taking substantlally all the rlsks and rewards of
ownership of an asset, the lease Is treated as a flnance lease.
Leases whlch do not transfer substantlally all the rlsk5 and rewards of ownershlp to charSty are
classified as operatlng leases.
Asset5 held under finance leases are Inltlally reco8n15ed a5 assets of the charlty at theSr falr value at the
Inceptlon of the lease or, if lower, at the present value of the minimum lease payments. The
correspondln8 Ilablllty to the lessor is included In the balance sheet date as a finance lease obllgatlon.
Lease payments are apportioned between finance expenses and reduction of the lease obligation so as
to achleve a constant rate of Interest on the remaining balance of the Ilablllty. Finance expenses are
reco8nlsed Immediately, unless they are directly attrlbutable to qualifyin8 assets, In whlch case they
are capltallsed In accordance wlth the charlty's pollcy on borrowing costs.
A55ets held under finance leases are depreciated in the same way as owned assets.
Operatin8 lease payments are reco8nlsed as an expense on a stralght-llne basls over the lease term.
In the event that lease incentlves are recelved to enter Into operating leases, such Incentlves are
reco8nlsed as a liability. The aggregate beneflt of Incentive5 is recognised as a reductlon of rental
expense on a stral8ht-Ilne basis.
Penslon costs
The charlty operates a defined contrlbutlon plan for Its employees. A defined contributlon plan Is
penslon plan under which the charity pays flxed contrlbutlons into a Separate entity. Once the
contributions have been paid the charity has no further payments obligations. The contributions are
recognlsed as expenses when they fall due. Amounts not paid are shown in accruals in the balance
sheet. The a55ets of the plan are held separately from the charity in independently admlnlstered funds.
Recelpt of donated £oods, facllltle5 and servltts
All donated goods, facilities and seNlces recelved are reco8nlsed within in¢¢min8 resources and
expenditure at an estimate of the value to the charitv.
Page 9

THE BRAIN TRUST LIMITED
Notes to the Accounts
2 Statsment of Flnanclal Actlvltles- prlor year
Unrestrlcted
funds Total funds
20Z3
2023
Income and endowments from:
Donations and le8acies
Total
21,279
21,279
21.279
21,279
Expendlture on:
Charitable activities
65,103
65,103
6,009
Other
6.009
Total
71,112
71.112
Net Income
(49,833
149,833)
Net Income before other
8alns/(losses)
Other £aln$ and losses:
Net movement In funds
(49,833)
{49,833}
149,833)
(49,833)
Reconclllatlon of funds:
Total fund5 brought forward
Total funds carrled forward
7,498
142,335
7,498
42,3351
3 Income from donatlons and la8aclas
Unrestrlrted
Total
2024
Total
2023
Donatlons received
41,348
41,348
41,348
41,348
21,279
21.279
4 Other Income
Unrestrlrted
Total
20Z4
Total
2023
Gift aid Income
21,086
21,086
21,086
21,086
Page 10

THE BRAIN TRUST LIMITED
Notes to the Accounts
5 Expenditure on tharltable actlvltles
Unrestrlcted
Total
2024
Total
2023
Expendlture on charitable
L7Ctivlties
Charitable donatlons
50,230
50,230
65,103
50,230
50,230
65.103
6 Analysls of grants
Grants to
Instltutlons
Artlvlty or pro8ramme
Total
Total
2023
2024
World Memory
Champlonshlps
The Institute of Braln
Chemlstry & human Nutrltlon
Tony 8uzan Internatlonal Ltd
41,230
41,230
65,103
7,000
7,0
2,000
50,230
2,000
50,230
65,103
Grant
fundln8 of
actlvltles
Actlvlty or pro8ramrne
Total
2024
Total
2023
World Memory
Charnplonships
The Instltute of Brain
Chemistry & human Nutrltlon
Tony Buzan International Ltd
41,230
41,230
65,103
7,000
7,IX)O
2,000
50,230
2,000
50,230
65,103
7 Other expendlture
Unrestrkted
Total
Total
2023
20Z4
Bank loan and overdraft
interest payable
General admlnistrative costs
962
962
1.057
4,716
2,200
7,878
4,716
2.200
7,878
2,303
2.649
6,009
Legal and professional costs
8 Staff costs
No employee received emoluments in ex¢ess of £60,tMx).
Page 11

THE BRAIN TRUST LIMITED
Notes to the Accounts
9 Related party dlsclosures
During the year to 31 March 2024, The Brain Trust Limited used R Keene, a director, to carry out work
for the charity. Grants to the World Memory Champlonshlps (R D Keene), The Institute of Brain
Chemlstry & human nutrltSon and Tony Buzan International Ltd are consldered by the trustees.
to be related party transactions.
10 Trustee remuneratlon and expenses
No trustee recelved any remuneration or benefits in klnd for the year ended 31 March 2024.
11 Credltors:
amounts falllng due within one year
2024
2023
Accruals
S,400
5,400
5,400
5.400
12 Credltors:
amounts falllng due after more than one
year
2024
2023
Bank loan5 and overdrafts
34,535
34,535
39,936
13 Movement In funds
Incomlni
resources
Ilncludlni
other
At l Aprll galns/losses
2023
Resources
expended
At31
March
2024
Restrlcted funds:
Unrestrlcted funds:
General funds
142,335)
62,434
{58,108)
138,009)
Total funds
14 Analys15 of net assets between funds
{42,3351
62,434
(58.1081
{38,0091
Unrestrlcted
funds
Total
Net current a55ets
13,474)
(3.474)
Creditors due in more than one year and
provi51or15
134,535)
134,535)
(38,009
(38,009)
Page 12

THE BRAIN TRUST LIMITED
Notes to the Accounts
15 Reconclllatlon of net debt
At31
March
2024
At l Aprll
2023
Cash flows
Cash and cash equlvalents
3,001
3,001
{1,075)
11,075)
1,926
1,926
Bank loans
(39.936)
139,936)
5,401
5.401
{34,535)
{34,535)
Net debt
136.935)
4,326
{32,609)
Page 13

THE BRAIN TRUST LIMITED
Statement of Cash flows
for the year ended 31 March 2024
2024
2023
Cash flows from operatln8 actlvltles
Net In¢omel{expendlture) per Statement of Flnanclal Actlvltles
4,326
149,833)
Adjustments for:
DlvSdends, Interest and rents from Investments
Increase in trade and other payables
121,086)
1,200
Net ¢ash used In operatlng actlvltles
(16,7601
148,633)
Cash flow5 from Investlng actlvltles
Dividends, Interest and rents from Investments
21,086
Net cash from Investlng actlvltles
21,086
Cash flows from flnan¢ln8 actlvltles
Repayment of borrowln8S
15,401)
(S.064)
Net cash used In financlng actlvltles
15,401)
(5,0641
Net decrease In cash and cash equlvalents
(1,0751
{S3.697)
Cash and cash equlvalents at the be8lnnln8 of the year
3,001
S6,698
Cash and cash equlvalents at the end of the year
1,926
3.001
Components of ush and cash equlvalents
Cash and bank balances
1,926
3,001
1.926
3,001
Page 14

THE BRAIN TRUST LIMITED
Oetsiled Statement of Flnanclal A¢tiv5tles
for the year ended 31 March 2024
Unrestrlcted
funds Total funds
2024
2024
Totsl funds
2023
I￿oMe and endowments from:
Donatlons recelved
41,348
41,348
41,348
41,348
21,279
21,279
Other
Glft aid Income
21,086
21,086
21,086
21,086
Total Income and endowment5
62,434
62,434
21,279
Expendlture on:
Charitable actlvities
Charltable donatlon5
50.230
50,230
50,230
50,230
65,103
65,103
Total of expendlture on charftable
actlvftles
50,230
50,230
65,103
other expendlture
Bank loan and overdraft interest
payable
962
962
1,057
962
962
1,057
385
Bank charges
Software, IT support and related
osts
Statlonery and printlng
528
528
2,190
2,190
747
1,998
4,716
1,998
4.716
1,171
2,303
Legal and professlonal costs
Audltllndependent examlnatlon
fees
Other legal and profe55ional
costs
1,200
1,200
1,200
1,000
1,000
1,449
2,200
2,200
2,649
6,009
Total of expendlture of other cost$
Total expendlture
Net gains on Investments
7,878
7,878
58,108
58,108
71,112
Net Income/lexpendlture)
4.326
4,326
149,833)
Net Income/(expendlture) before
other ga5ns/llossesl
Other Gains
4,326
4,326
(49,833
Page 15

THE BRAIN TRUST LIMITED
Detailed Statement of Flnandal Actbvltles
Net movement In funds
4,326
4.326
(49,833}
Reconclllatlon of funds:
Total funds brought forward
142.335)
142.335)
7,498
Total funds carrfed forward
(38,009)
138,009)
142,335)
Page 16