Charity Registration No. 1001522
THE TONY BRAMALL CHARITABLE TRUST TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2020
THE TONY BRAMALL CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION J i
| Trustees | DCA Bramall |
|---|---|
| K S Bramall-Ogden | |
| A Bramall | |
| G M Tate | |
| Secretary | DCA Bramall |
| Charity number | 1001522 |
| Principal address | 12 Cardale Court |
| Cardale Park | |
| Beckwith Head Road | |
| Harrogate | |
| North Yorkshire | |
| HG3 1RY | |
| Auditors | Firth Parish |
| 1 Airport West | |
| Lancaster Way | |
| Yeadon | |
| Leeds | |
| West Yorkshire | |
| LS19 7ZA | |
| Bankers | Lloyds Bank International Limited |
| PO Box 10 | |
| 9 Broad Street | |
| St Helier | |
| Jersey | |
| JE4 8RS | |
| Barclays Bank plc | |
| 6 East Parade | |
| Leeds | |
| West Yorkshire | |
| LSi 2AD | |
| Investment advisors | Julius Baer& Co. LTD |
| Lefebvre Street | |
| P.O Box 87 | |
| St Peter Port | |
| Guernsey | |
| GY14BS |
THE TONY BRAMALL CHARITABLE TRUST
CONTENTS
| ee | ee |
|---|---|
| Page | |
| Trustees’ report | 1-2 |
| Statement oftrustees’ responsibilities | 3 |
| Independent auditors' report | 4=5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notestotheaccounts | ol |
THE TONY BRAMALL CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2020
The trustees present their annual report and financial statements for the year ended 5 April 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) applicable to small charities and FRS 102.
Objectives and activities for the public benefit
The charity's objectives continue to be to give assistance to charities, organisations and individuals who are involved in carrying out medical research or involved in the care of the sick of whatever age. Our support is normally given to those causes based in the northern part of the country.
The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives, in planning future activities, and setting the grant making policy for the year.
Grant making policy
The charity receives applications for funding for a variety of different projects. Decisions are made on the basis of the objectives of the charity and if they fall within the relevant criteria the charity will review all the applications and decide which to consider and investigate further.
Certain fund requests are assessed by personal visits and discussions with the applicants.
In a number of instances the charity will make further contributions to causes supported in previous years.
Achievements and performance
Grants of £131,143 were made in the year.
During the prior year we changed our Investment Manager to Julius Baer. Following a fall in the stock market at the time of the Coronavirus COVID-19 lockdown which took place in March/April 2020, as at our year end, there was a material fall in the value of our investments. I am pleased to report that this shortfall has mainly been recovered and our investment value at 1 June 2020 has recovered to £4.45m. The market will be subject to more volatility as we move through the year.
Financial review
The charity was set up in 1988 by Mr D C A Bramall with an initial sum of £600,000. The charity has invested this mainly in fixed interest government bonds or corporate bonds. The main part of the income has been used to support charities or applications complying with the charity's objectives.
In the first quarter of 2004 the charity received a further sum from Mr D C A Bramall valued at £3 miltion.
Reserves policy
The charity endeavours to keep a level of unrestricted funds to allow the management and emergency application of funds. This level of reserve has been maintained throughout the year. Reserves at the year end were £4,213,363.
Plans for the future
We will continue to support causes and charities whose activities are in line with our objectives, namely the support of medical and welfare activity together with assisting persons or causes in need of help to achieve their wellbeing.
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THE TONY BRAMALL CHARITABLE TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2020
Risk management
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to major risks.
Structure, governance and management
The trust is a registered charity, number 1001522, and is constituted under a trust deed dated 14 January 1991. The registered office is 12 Cardale Court, Cardale Park, Beckwith Head Road, Harrogate, North Yorkshire, HG3 IRY.
The trustees who served during the year were:
DCA Bramall K S Bramall-Ogden A Bramall M J Foody G M Tate
Trustees are recruited as and when necessary by the other members of the committee.
The trustees meet annually to review the financial position of the charity and to determine future objectives.
Statement of disclosure to the Auditor
So far as each trustee is aware, there is no relevant audit information of which the company's auditors are unaware. Each trustee has taken all the steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
On behalf of the board of trustees
DCA Bramall Trustee Dated: 2 July 2020
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THE TONY BRAMALL CHARITABLE TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The charity trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and - prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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THE TONY BRAMALL CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE TONY BRAMALL CHARITABLE TRUST
Se
Opinion
We have audited the financial statements of The Tony Bramall Charitable Trust (the charity) for the year ended 5 April 2020 which comprise the Statement of Financial Activities, the Balance Sheet and Notes to the financial statements. 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:
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e give a true and fair view of the state of the Charity's affairs as at 5 April 2020 and of its income and expenditure for the year then ended;
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e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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e@ have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
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 Charity 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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
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e the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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e the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement in the other information. 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.
Hie
THE TONY BRAMALL CHARITABLE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE TONY BRAMALL CHARITABLE TRUST
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 requires us to report to you if, in our opinion:
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e the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or
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® sufficient accounting records have not been kept; or e the financial statements are not in agreement with the accounting records; or
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e we have not obtained all the information and explanations we require for our audit,
Responsibilities of the trustees
As explained more fully in the statement of the trustees responsibilities set out on page 3, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity'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 Charity 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 145 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 the users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor's report.
Use of our report
This report is made solely to the Charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's trustees 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 Charity and the Charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
2 July 2020
1 Airport West Firth Parish Lancaster Way Chartered Accountants Yeadon Statutory Auditor Leeds West Yorkshire LS19 7ZA
= & =
THE TONY BRAMALL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2020
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|i|
|2020|2019|
|Notes|£|£|
|Income|
|Income|from|investments|2|106,898|169,857|
|Expenditure|
|Expenditure|on|raising|funds|
|-|Investment|management|costs|3|28,276|32,969|
|Expenditure|on|charitable|activities|
|-|Grant|making|4|132,421|42,273|
|Total|expenditure|160,697|75,242|
|Net|(expenditure)/income|before|gains|on|investments|(53,799)|94,615|
|Net|(losses)/|gains on|investments|7|(441,461)|227,691|
|Net movement|in|funds|(495,260)|322,306|
|Reconciliation|of funds|
|Total|funds|brought forward|4,708,623|4,386,317|
|Total|funds|carried forward|10|4,213,363|4,708,623|
----- End of picture text -----
All items recorded in the SOFA relate to general unrestricted funds.
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THE TONY BRAMALL CHARITABLE TRUST
BALANCE SHEET
ASAT 5 APRIL 2020
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2020|2019|
|Notes|£|£|£|£|
|Fixed|assets|
|Investments|7|3,952,242|4,138,236|
|Current assets|
|Debtors|8|-|909|
|Cash|at|bank|and|in|hand|262,321|570,678|
|Total|current|assets|262,321|571,587|
|Creditors:|amounts|falling|due|within|
|one|year|9|(1,200)|(1,200)|
|Net|current assets|261,121|570,387|
|Total|net assets|4,213,363|4,708,623|
|The|funds|of the|charity|
|Unrestricted|income funds|10|4,213,363|4,708,623|
|Total|charity funds|4,213,363|4,708,623|
----- End of picture text -----
The financial statements were approved by the trustees on 2 July 2020 and signed on their behalf by:
DCA Bramall Trustee
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THE TONY BRAMALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2020
eeee 1 Accounting policies
Charity information
The Tony Bramall Charitable Trust is an unincorporated charity registered with the Charity Commission in England & Wales, constituted under a trust deed. The principal address is 12 Cardale Court, Cardale Park, Beckwith Head Road, Harrogate, North Yorkshire, HG3 1RY.
1.1 Basis of preparation and assessment of going concern
These financial statements have been prepared in accordance with 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),with FRS 102, with the requirements of the Charities Act 2011 and under the historical cost convention as modified by the revaluation of investments assets.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The trust constitutes a public benefit entity as defined by FRS 102.
The Trustees believe that the trust is a going concern because it has a strong balance sheet.
1.2. Income recognition Investment income
Investment income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
- 1.3. Expenditure and irrecoverable VAT Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of VAT, which cannot be recovered.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. The expense is accrued once the recipient has been notified of the grant award.
1.4 Fixed asset investments
Investments are a form of basic financial instruments and are initially recognised at their transaction value and subsequently measured at their fair value at the balance sheet date using the closing mid-market valuation. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.
1.5 Recognised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired during the year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised gains and losses are combined in the Statement of Financial Activities.
1.6 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial Instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
a
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THE TONY BRAMALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2020
1.6 Accounting policies (continued)
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
| 2 | Investment income | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Dividends | 82,435 | 151,542 | |
| Interest on fixed interest securities | 24,234 | 18,058 | |
| Interest on cash deposits | 229 | 257 | |
| 106,898 | 169,857 | ||
| 3 | Investment management costs | 2020 | 2019 |
| £ | £ | ||
| Investment management fees | 28,086 | 32,869 | |
| Bankcharges | 190 | 100 | |
| 28,276 | 32,969 |
Qa
THE TONY BRAMALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2020
ee i
| 4 | Analysis ofexpenditure on charitable activities | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Grant making | |||
| - Grant funding ofactivities | 131,143 | 41,073 | |
| - Governance costs (see note 5) | 1,278 | 1,200 | |
| 132,421 | 42,273 | ||
| Analysis ofgrantfunding | |||
| £ | |||
| Action Medical Research | 1,500 | ||
| All Saints Fabric Fund | 4,000 | ||
| Antibiotic Research UK | 1,000 | ||
| Ashgate Hospicecare | 4,000 | ||
| Cancer Support UK | 1,000 | ||
| Childrens Heart Surgery Fund | 1,500 | ||
| Cystic Fibrosis | 1,500 | ||
| Hope and Homes for Children | 500 | ||
| Hope forTomorrow | 1,500 | ||
| Leeds Cares | 1,000 | ||
| Lookers FocusTempus Novo | 9,343 | ||
| McMillan Cancer Support | 4,500 | ||
| Saint Michael's Hospice | 60,000 | ||
| ShiftMS | 18,000 | ||
| Spinal Research | 1,000 | ||
| StGemma's Hospice E Lockwood 3 Peaks | 100 | ||
| Support Dogs | 1,000 | ||
| St Leonards Hospice | 750 | ||
| Target Ovarian Cancer | 6,000 | ||
| YCCD Yorkshire Charity Clay Day | 2,950 | ||
| Yorkshire AirAmbulance | 5,000 | ||
| York Minster Fund | 5,000 | ||
| 131,143 | |||
| 5 | Governance costs | 2020 | 2019 |
| £ | £ | ||
| Auditand accountancy services | 1,200 | 1,200 | |
| Sundry expenses | 78 | - | |
| 1,278 | 1,200 |
The auditor's remuneration constituted an audit fee of £1,200 (2019:£1,200) and other services £Nil (2019: ENil).
iee 4 10 e.
THE TONY BRAMALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
ings ee —*="
FOR THE YEAR ENDED 5 APRIL 2020
6 Trustee expenses and remuneration
The charity trustees were not paid, nor did they receive any other benefits from employment with the charity in the year (2019: ENil). No charity trustee received payment for professional or other services supplied to the charity (2019: ENil). No trustee received reimbursement for expenses (2019: ENil),
| 7 | Fixed asset investments | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Movement in fixed asset investments | |||
| Marketvalue at 6 April 2019 Additions atcost |
4,138,236 2,023,511 |
4,283,187 3,520,725 |
|
| Disposalsat carrying value | (1,773,329) | (3,893,367) | |
| Net (loss)/gain on revaluation | (436,176) | 227,691 | |
| Marketvalue at 5 April 2020 | 3,952,242 | 4,138,236 | |
| 2020 | 2019 | ||
| £ | £ | ||
| Investments atmarketvalue comprised: | |||
| Equities | 3,256,673 | 3,493,904 | |
| Fixed interest securities | 695,569 | 644,332 | |
| 3,952,242 | 4,138,236 | ||
| 8 | Debtors | 2020 | 2019 |
| £ | E | ||
| Prepayments and accrued income | ~ | 909 | |
| 9 | Creditors | 2020 | 2019 |
| £ | £ | ||
| Othercreditorsandaccruals | 1,200 | 1,200 |
10. = Analysis of charitable funds
All funds of the charity relate to unrestricted free reserves.
11 Related party transactions
There have been no related party transactions in the reporting period that require disclosure.
Sgi is -11-