2025-03-31-accounts - The Brain Trust Limited

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THE BRAIN TRUST LIMITED

Charity No. 1001012

Trustees' Report and Unaudited Accounts

31 March 2025

THE BRAIN TRUST LIMITED Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Statement of Cash flows	14
Notes to the Accounts	7 to 13
Detailed Statement of Financial Activities	15 to 16

Page 1

THE BRAIN TRUST LIMITED Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1001012

Principal Office

86 Clapham Common North Side London SW4 9SE

Trustees

The following trustees served during the year:

J.S. Eales J.C. Hoarau A.P.S. Keene R.D. Keene OBE M. Lisiak J.I.P. Simpole M. Tashanligil

Independent Examiner

Asmita & Associates Ltd 114-116 Plumstead High St Plumstead London SE18 1SJ

Bankers

Coutts Bank

OBJECTIVES AND ACTIVITIES

The principal objective of the charity is to promote education and training in cognitive techniques to maximise the ability of each and every individual to unlock and deploy the vast capacity of his or her brain. The charitable objectives are to promote research into the study of thought process, the investigation of the mechanisms of thinking, manifested in learning, understanding, communication, problem solving, creativity and decision making, to disseminate the results of such research and study and to promote generally education and training in cognitive processes and techniques and to develop and exploit new techniques in cognitive processes.

The charity does not undertake activities directly. However it makes grants to those institutions working to achieve the same objectives and raises awareness through its fundraising. All grants made are for the public benefit in pursuance of the charity's objectives.

Page 2

THE BRAIN TRUST LIMITED Trustees Annual Report

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

Raymond Dennis Keene OBE (Dec 30, 2025 14:40:38 GMT)

R.D. Keene OBE Trustee 30 December 2025

Page 3

THE BRAIN TRUST LIMITED Independent Examiners Report

Independent Examiner's Report to the trustees of THE BRAIN TRUST LIMITED

I report to the trustees on my examination of the financial statements of THE BRAIN TRUST LIMITED for the year ended 31 March 2025.

Responsibilities and basis 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 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by being a qualified member of FCA, M.Sc..

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

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

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.

LN Pandey FCA, M.Sc. Asmita & Associates Ltd 114-116 Plumstead High St Plumstead London

SE18 1SJ 30 December 2025

Page 4

THE BRAIN TRUST LIMITED Statement of Financial Activities

for the year ended 31 March 2025

Unrestricted funds	Total funds	Total funds
2025	2025	2024
£	£	£

1,725,081	1,725,081	41,348
421,688	421,688	21,086
2,146,769	2,146,769	62,434

1,936,600	1,936,600	50,230
138,943	138,943	7,878
2,075,543	2,075,543	58,108
-	-	-
71,226	71,226	4,326
-	-	-
71,226	71,226	4,326

71,226	71,226	4,326

(38,009)	(38,009)	(42,335)
33,217	33,217	(38,009)

Page 5

THE BRAIN TRUST LIMITED Balance Sheet

at 31 March 2025

at 31 March 2025
Charity No. 1001012 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets/(liabilities) Total assets less current liabilities Creditors:Amounts falling due after more than one year 12 Net assets/(liabilities) excluding pension asset or liability Total net assets/(liabilities) The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds Reserves 13 Total funds	2025 £ 66,551 66,551 (4,200) 62,351 62,351 (29,134) 33,217 33,217 33,217 33,217 33,217	2024 £ 1,926
		1,926 (5,400)
		(3,474) (3,474) (34,535)
		(38,009)
		(38,009)
		(38,009)
		(38,009)
		(38,009)

Approved by the trustees on 30 December 2025

And signed on their behalf by:

Raymond Dennis Keene OBE (Dec 30, 2025 14:40:38 GMT)

R.D. Keene OBE Trustee 30 December 2025

Page 6

THE BRAIN TRUST LIMITED Notes to the Accounts

for the year ended 31 March 2025

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

THE BRAIN TRUST LIMITED Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable 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 paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised 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 debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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.

Page 8

THE BRAIN TRUST LIMITED Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

THE BRAIN TRUST LIMITED

Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations received 4 Other income Gift aid income	Unrestricted £ 1,725,081 1,725,081 Unrestricted £ 421,688 421,688	Unrestricted funds 2024 £ 41,348 21,086 62,434 50,230 7,878 58,108 4,326 4,326 4,326 (42,335) (38,009) Total 2025 £ 1,725,081 1,725,081 Total 2025 £ 421,688 421,688	Total funds 2024 £ 41,348 21,086
			62,434 50,230 7,878
			58,108
			4,326
			4,326
			4,326 (42,335)
			(38,009)
			Total 2024 £ 41,348
			41,348
			Total 2024 £ 21,086
			21,086

Page 10

THE BRAIN TRUST LIMITED

Notes to the Accounts

5 Expenditure on charitable activities

Expenditure on charitable activities Charitable donations 6 Analysis of grants World memory championships The institute of Brain chemistry and human nutrition Tony Buzan International Ltd Arbiters & Arbiter training Global memory championships Global mind mapping championships Global speed reading championships Other grants 7 Other expenditure Bank loan and overdraft interest payable Travel and subsistence Venue/ storage costs General administrative costs Legal and professional costs	Unrestricted £ 1,936,600 1,936,600 Unrestricted £ 829 11,919 59,435 56,889 9,871 138,943	Total 2025 £ 1,936,600 1,936,600 2025 525,900 - 205,600 500,000 379,000 192,500 101,500 32,100 1,936,600 Total 2025 £ 829 11,919 59,435 56,889 9,871 138,943	Total 2024 £ 50,230
			50,230
			2024 41,230 7,000 2,000
			50,230
			Total 2024 £ 962 - - 4,716 2,200
			7,878

8 Staff costs

No employee received emoluments in excess of £60,000.

Page 11

THE BRAIN TRUST LIMITED Notes to the Accounts

9 Related party disclosures
During the year to 31 March 2025, The Brain Trust Limited used R Keene, a director, to carry out work for the charity. Grants to the World Memory Championships (R D Keene), Arbiters & Arbiter training, Global mind championships, Global mind mapping championships, Global speed reading championships and Tony Buzan International Ltd are considered by the trustees.

10 Trustee remuneration and expenses

No trustee received any remuneration or benefits in kind for the year ended 31 March 2025.

11 Creditors:

amounts falling due within one year

	2025 £		2024 £
	4,200		5,400
At 1 April 2024 (38,009) (38,009)	4,200 2025 £ 29,134 29,134 Incoming resources (including other gains/losses ) £ 2,146,769 2,146,769	Resources expended £ (2,075,543) (2,075,543) Unrestricted funds £ 62,351 (29,134) 33,217	5,400
			2024 £ 34,535
			34,535
			At 31 March 2025 £ 33,217
			33,217
			Total £ 62,351 (29,134)
			33,217

Page 12

THE BRAIN TRUST LIMITED Notes to the Accounts

15 Reconciliation of net debt

15 Reconciliation of net debt
Cash and cash equivalents Bank loans Net debt	At 1 April 2024 £	Cash flows £	At 31 March 2025 £
	1,926	64,625	66,551
	1,926 (34,535)	64,625	66,551 (29,134)
		5,401
	(34,535) (32,609)	5,401 70,026	(29,134)
			37,417

Page 13

THE BRAIN TRUST LIMITED Statement of Cash flows for the year ended 31 March 2025

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Decrease in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Cash flows from financing activities Repayment of borrowings Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2025 £ 71,226 (421,688) (1,200) (351,662) 421,688 421,688 (5,401) (5,401) 64,625 1,926 66,551	2024 £ 4,326 (21,086) -
		(16,760) 21,086
		21,086
		(5,401)
		(5,401)

		(1,075)
		3,001
		1,926

Components of cash and cash equivalents
Cash and bank balances	66,551	1,926

	66,551	1,926

Page 14

THE BRAIN TRUST LIMITED Detailed Statement of Financial Activities

for the year ended 31 March 2025

Income and endowments from: Donations and legacies Donations received Other Gift aid income Total income and endowments Expenditure on: Charitable activities Donations paid Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable Motor and travel costs Travel and subsistence Premises costs Venue hire Office/storage costs General administrative costs, including depreciation and amortisation Bank charges Website / IT / Communications Stationery and printing Legal and professional costs Audit/Independent examination fees Secretarial costs Total of expenditure of other costs Total expenditure	Unrestricted funds 2025 £ 1,725,081 1,725,081 421,688 421,688 2,146,769 1,936,600 1,936,600 1,936,600 829 829 11,919 11,919 37,400 22,035 59,435 553 41,241 15,095 56,889 1,200 8,671 9,871 138,943 2,075,543	Total funds 2025 £ 1,725,081 1,725,081 421,688 421,688 2,146,769 1,936,600 1,936,600 1,936,600 829 829 11,919 11,919 37,400 22,035 59,435 553 41,241 15,095 56,889 1,200 8,671 9,871 138,943 2,075,543	Total funds 2024 £ 41,348
			41,348
			21,086
			21,086
			62,434 50,230
			50,230
			50,230 962
			962
			-
			-
			- -
			-
			528 2,190 1,998
			4,716
			1,200 1,000
			2,200

			7,878
			58,108

Page 15

THE BRAIN TRUST LIMITED Detailed Statement of Financial Activities

THE BRAIN TRUST LIMITED Detailed Statement of Financial Activities
Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- 71,226 71,226 - 71,226 (38,009) 33,217	- 71,226 71,226 - 71,226 (38,009) 33,217	-
			4,326
			4,326 -
			4,326
			(42,335)
			(38,009)

Page 16