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2023-06-30-accounts

Charity registration number 1012216

THE BRUNSWICK TOWN CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

THE BRUNSWICK TOWN CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr N Bingham Ms S Gibbings Ms J Seddon Mr C I Hill Cross Charity number 1012216 Principal address 13 Brunswick Square Brighton & Hove East Sussex BN3 1EH Independent examiner Knill James LLP One Bell Lane Lewes East Sussex BN7 1JU Bankers National Westminster Bank Plc 8 Pavilion Buildings Castle Square Brighton East Sussex BN1 1DP

THE BRUNSWICK TOWN CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 16

THE BRUNSWICK TOWN CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2023

The trustees present their report and accounts for the year ended 30 June 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The main objectives of the charity are the raising of public and private funds to restore and maintain property of high architectural value in the Brunswick Square area of Hove, together with the provision of an operational educational centre focusing on early 19th century urban architecture and lifestyle. The charity's objectives are partly realised through the use of computer technology to acquire, analyse and disseminate historical information. There has been no change to these objectives in the year.

The trustees anticipate no significant changes to the nature of activities carried out in the foreseeable future.

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

Public benefit

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

Achievements and performance

This annual period proved to be largely free of the concerns and challenges associated with the COVID-19 pandemic. We nevertheless arranged for our volunteer groups (events, theatre, and costume teams, etc.) to attend on different days of the week to minimise health risks.

Throughout the financial year we delivered numerous heritage-focused events for specialist groups including those from The University of Buckingham (MA in Historic Arts and Decorative Interiors), the Open Palace Programme (endorsed by Historic Royal Palaces) and the U3A. In addition to this, we enjoyed good attendance at our regular guided House Tours and Town Walks, and also at our varied programme of exhibitions/events.

Amongst the highlights in this year’s programme of over 20 shows were:

The Royal College of Art Alumni Exhibition, organised by Emily Stevens in July The Photo Fringe Exhibitions held in October, featuring, The Pears and Tripod Group, Tolly Robinson & Elissa Jane Diver, William Morgan, and Tom Lee. The Artists Open Houses Exhibition in May, featuring Emily Stevens and others.

As has been our practice for some 28 years, during September we worked to deliver a wide variety of free events around the city to celebrate Heritage Open Days. Although still rebuilding after the Covid crisis, the English Heritage coordinating team were able to generate significant press coverage for this nationwide event and here in Brighton & Hove our activities were very well received and attended.

Our theatre group, Town House Voices was founded in the spring of 2022 and worked through the summer to develop a promenade piece entitled, What if Walls could Speak? This was delivered to great acclaim in midSeptember. The group has subsequently gone on to develop exciting new shows.

In addition to the activities set out above, work was ongoing on a wide variety of other fronts:

Further progress was made with cataloguing the Joll Collection of silhouettes. Silhouette collectors and experts were generous with their knowledge, visiting the Town House for days at a time to provide context and commentary around items in the collection.

THE BRUNSWICK TOWN CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

The B&H Women’s’ History Group used our facilities for their monthly meetings, as did the Friends of Brunswick Square and Terrace for their periodic meetings.

Electrical upgrade work was completed in our Basement Annex at 10 Brunswick Square.

We continued our research collaboration with Dr Marcus Winter at the University of Brighton. Together we are exploring the use of machine learning in storytelling. This led to an interactive presentation that we demonstrated in September 2022, which saw visitors use gestures to control an avatar to 'paint' Regencyperiod decorative designs onto our drawing room walls.

Our other university collaboration this year saw us in the role of cultural heritage supervisors to PhD student Anna Edmonds. Her research centred around the use of locative ambisonic audio as a tool for storytelling. This was demonstrated to the public as a 'history walk' in and around the in the precincts of Brunswick Square.

As we approached year-end the generous support of staff at the Royal Collection Trust enabled our volunteers, to visit the exhibition ‘Style & Society: Dressing the Georgians’ at The Queen's Gallery, Buckingham Palace. This was a particularly valuable experience for our costume group.

Throughout the financial year, the Trust received grant and event income, which was employed to offset establishment and running costs. In addition to this, the Trust made use of funds secured by its trading company and income resulting from consultancy appointments focused on historic building analysis. This last source of income validating the decision made during the pandemic to widen the sources of Trust income.

Finance

Some grant funding was received in the year. We also had a busy programme of venue hire and historic building consultancy, both of which generated an encouraging level of income. The trust also benefitted from numerous donations, for which the trustees are extremely grateful.

Financial review

The Statement of Financial Activities shows net expended resources of £15,063 (2022 - £34,746).

The charity has continued to fund a variety of projects and activities which accord with the stated objectives.

The Trust's operations recovered well following the end of Covid restrictions. Fundraising activities such as tours, walks and exhibitions resumed and volunteers were able to return and complete their normal activities, such as the transcription of historic documentation and repair of the house.

A large number of bookings were received for exhibition venue hire and for photography and videography location hire, producing a useful income stream for the trust. This is an area that we continue to actively promote.

Likewise, our expertise in historic building consultancy was also in demand and produced the majority of the trust’s income for this year. We continue to develop this area of our activities.

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Reserves policy

It is the policy of the trustees to maintain unrestricted funds, at a sufficient level to maintain a positive cash bank balance at all times and to ensure the prudent day-to-day financial management of the charity. Unrestricted funds were maintained at this level throughout the year.

It is also the policy of the trustees to review, on an annual basis, the nature and level of funds set aside, and to ensure that strategies are in place to enable such funds to be able to meet their purpose on an ongoing basis.

THE BRUNSWICK TOWN CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

Risk management policy

The trustees have examined the major strategic, business and operational risks that the charity faces and confirm that systems are in place for regular reports to be produced so that the necessary steps can be taken to minimise these risks.

Structure, governance and management

The charity is governed by its trust deed dated 3 June 1992 and is registered with the Charity Commission number 1012216. The charity has a wholly owned subsidiary, Adaptive Technologies Limited, which has a principal activity of development and maintenance of software.

The trustees who served during the year and up to the date of signature of the financial statements were: Dr N Bingham

Ms S Gibbings Ms J Seddon Mr C I Hill Cross

Recruitment and appointment of trustees

Trustees are subject to statutory powers in relation to their appointment and retirement. They hold office for a period of three years and are eligible for re-appointment. The appointment or retirement of trustees is subject to the approval of Mr N Tyson (or the survivors of him).

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

Ms S Gibbings

Trustee

4 March 2024

THE BRUNSWICK TOWN CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE BRUNSWICK TOWN CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of The Brunswick Town Charitable Trust (the charity) for the year ended 30 June 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

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

Independent examiner's statement

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

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.

David W Martin FCA Knill James LLP

One Bell Lane Lewes East Sussex BN7 1JU

Dated: 11 March 2024

THE BRUNSWICK TOWN CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
10,587
-
Charitable activities
3
61,490
-
Total income
72,077
-
Expenditure on:
Raising funds
4
478
-
Charitable activities
5
85,609
1,053
Total resources expended
86,087
1,053
Net expenditure for the year/
Net movement in funds
(14,010)
(1,053)
Fund balances brought forward
113,035
251,053
Fund balances carried forward
99,025
250,000		 Total
2023
£
10,587
61,490
72,077
478
86,662
87,140
(15,063)
364,088
349,025		 Total
2022
£
5,350
148,045
153,395
913
187,228
188,141
(34,746)
398,833
364,087

The statement of financial activities includes all gains and losses recognised in the year.

THE BRUNSWICK TOWN CHARITABLE TRUST

BALANCE SHEET

AS AT 30 JUNE 2023

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
14
Unrestricted funds		 2023
£
4,071
28,987
33,058
2,728		 £
318,595
100
318,695
30,330
349,025
250,000
99,025
349,025		 2022
£
4,570
46,354
50,924
4,702		 £
317,765
100
317,865
46,222
364,087
251,052
113,035
364,087

The financial statements were approved by the trustees on 4 March 2024

Ms S Gibbings Trustee

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

Charity information

The Brunswick Town Charitable Trust is an unincorporated charity governed by a trust deed dated 3 June 1992. The principal address is 13 Brunswick Square, Brighton, East Sussex BN3 1EH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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

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

1.2 Charitable funds

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

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering these funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Income

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

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

Legacies are recognised on receipt or otherwise if the charity 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.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised when receivable.

Grant income is recognised where there is entitlement, certainty of receipt and the amount can be recognised with sufficient reliability.

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

1.4 Expenditure

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

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

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly be attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Support and governance costs are those costs that assist the work of the charity but do not directly represent charitable activities. These costs have been allocated to funds on a basis consistent with the use of the resources.

1.5 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:

Land and buildings Not depreciated Archive and artwork Not depreciated Computer equipment 33% straight line basis Fixtures, fittings and equipment 25% reducing balance basis Diana Joll Silhouette Collection Not depreciated

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.

Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. Assets are subsequently stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Fair values for donated assets are estimated by reference to market prices.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

1 Accounting policies

(Continued)

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

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

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

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

Basic financial assets

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

Basic financial liabilities

Basic financial liabilities, including creditors 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 a 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.

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

2 Donations and legacies

Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
1,787
5,278
Grants receivable
8,800
-
Other
-
-
10,587
5,278
Grants receivable for core activities
Other
8,800
-
8,800
-
Charitable activities
Ancillary trading income
Consultancy
The above income all relates to unrestricted funds.		 Restricted
funds
2022
£
-
-
72
72
-
-
2023
£
17,284
44,206
61,490		 Total
2022
£
5,278
-
72
5,350
-
-
2022
£
27,422
120,623
148,045

3 Charitable activities

4 Raising funds

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Fundraising and publicity
Staging fundraising events 478 913
478 913

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

5 Expenditure on charitable activities

Direct Direct
charitable charitable
expenditure expenditure
2023 2022
£ £
Direct costs
Depreciation and impairment 648 374
Building work and maintenance 9,817 20,718
Travel and accommodation 2,009 3,366
Volunteers' expenses 1,149 1,793
Consultants' fees 55,172 146,093
Computer costs 1,717 1,775
Printing, postage and stationery 399 123
Insurance 5,635 5,190
Establishment costs 4,758 4,301
Bank charges - 54
Sundry expenses 1,878 1,893
Equipment purchases and repairs 352 -
83,534 185,680
Share of support and governance costs (see note 6)
Governance 3,128 1,548
86,662 187,228
Analysis by fund
Unrestricted funds 85,609 186,796
Restricted funds 1,053 432
86,662 187,228
Support and governance costs allocated to activities
2023 2022
£ £
Governance costs 3,128 1,548
Analysed between:
Direct charitable expenditure 3,128 1,548

6 Support and governance costs allocated to activities

Governance costs include independent examination fees of £1,990 (2022 - £1,308)

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

8 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2023 2022
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

9 Taxation

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

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

10 Tangible fixed assets

Cost
At 1 July 2022
Additions
At 30 June 2023
Depreciation and impairment
At 1 July 2022
Depreciation charged in the year
At 30 June 2023
Carrying amount
At 30 June 2023
At 30 June 2022		 Land and
buildings
Archive and
artwork
Computer
equipment
Fixtures,
fittings and
equipment
Diana Joll
Silhouette
Collection
£
£
£
£
£
49,217
17,431
6,660
7,747
250,000
-
-
-
1,478
-
49,217
17,431
6,660
9,225
250,000
-
-
6,660
6,630
-
-
-
-
648
-
-
-
6,660
7,278
-
49,217
17,431
-
1,947
250,000
49,217
17,431
-
1,117
250,000		 Total
£
331,055
1,478
332,533
13,290
648
13,938
318,595
317,765

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

11 Fixed asset investments

Unlisted
investments
£
Cost or valuation
At 1 July 2022 & 30 June 2023 100
Carrying amount
At 30 June 2023 100
At 30 June 2022 100

The investment represents 100% holding in Adaptive Technologies Limited, a wholly owned subsidiary with company registration number 03621786 registered in England and Wales.

12 Debtors

Debtors
Amounts falling due within one year:
Amounts owed by subsidiary undertakings
Other debtors		 2023
£
3,258
813
4,071		 2022
£
3,258
1,312
4,570

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2023
£
1,000
1,728
2,728		 2022
£
3,154
1,548
4,702

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

14 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at Resources Balance at
1 July 2022 expended 30 June 2023
£ £ £
Heritage Emergency Fund 153 (153) -
Diana Joll Silhouette Collection 250,900 (900) 250,000
251,053 (1,053) 250,000

Heritage Emergency Fund

The purpose of the grant is to support the organisation during lockdown. It paid for these things:

Diana Joll Silhouette Collection

The collection has been donated to the trust. The value of this fund cannot be depleted below the Diana Joll Silhouette Collection asset value (included within fixed assets) unless the assets themselves are disposed from the charity.

15 Unrestricted funds

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

At 1 July 2022
Incoming
resources
Resources
expended
At
£
£
£
General funds
113,035
72,077
(86,087)
Previous year:
At 1 July 2021
Incoming
resources
Resources
expended
At
£
£
£
General funds
147,421
153,323
(187,709)		 30 June
2023
£
99,025
30 June
2022
£
113,035

THE BRUNSWICK TOWN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

16 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 30
June 2023 are
represented by:
Tangible assets
68,595
250,000
Investments
100
-
Current assets/(liabilities)
30,330
-
99,025
250,000		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
318,595
67,765
250,000
100
100
-
30,330
45,169
1,053
349,025
113,034
251,053		 Total
2022
£
317,765
100
46,222
364,087

17 Related party transactions

There were no disclosable related party transactions during the year (2022 - £1,520).