REG18TERED CHARITY NUMBER: 1012615
stees and
F5nanclal Statements
f r ¢he Year Ended 31 Docember 2024
for
rownsword Charilable Foundatlon
Sumor AudilGo Llmited
statutory Auditor
Chartered Accountant5
County Gate
County Way
Trowbridge
Wiltshire
BA14 7FJ

Brow
Charltab
¢ Foundation
Conte
nancial Statements
for the Year Ended 31 December 2024
Page
Roport of tha Tru$t0•S
Roport of tho Independent Audltors
Stat•m•nt of Flnanclal Actlvl¢les
Balan¢•-8hee
Notes to the Flnan¢lal Statement$
8 tr) 14
Detalled Statement of Financial Actlvhle$
15

Brownsword Charitable Foundation
ort ofthe Twsteos
for the Year Ended 31 December 2024
The trustees present Ihoir report with the financial Slatemenls of the Gharity for the year ended 31 December 2024. The
tnjstees hav& adopted ihe provlslons of Accounllng and Reportlng by Charities.. Statement of Recommended Pra￿1¢6
applicabl8 to oharlllos preparing Iholr accounts In accordance wlth the Flnanclal Reportlng Standard appllcabl8 in Ihè
UK and R8public of Ireland {FRS 102) leffectlv8 1 January 2019).
OBJECTIVES AND ACTIVITIES
ObJo¢tlvoS
In shaplng our obJectlv6s for the yaar and plannlng our actlvltles, the Irusl&a$ have consldered the Charity
Commission's guidelines on public benefit.
The objects of th8 Charlty 8re to make donallons to 3UBh charitable institution or instilulion3 al suFh time or times and in
such a manner that the Trusleos may In thèir absolute discretlon think fit.
The Board of Trustees reafflm16d at a m8eting on 23 November 2021 that for forthcomlng y8ars the broad priorlly are88
would be:
Chlldren and Young People
The Arts
The Elderly
Community and Neighbourhood Work
Phy8l¢al and Learnlng Dlfflcullles
Educatlonal Projeclg
Medical Projects
It is anticipated that Ihe majority of donations wll be reslrict8d to th8 B8th ar82 although th& Trust8es will a180 b8
looklng to undertake specific large national donations in coming years..
Th6 trustses ar8 aware of th8 publlc benefit provlslons of the Charftles Act 2011 and of the guidance on them published
by the Charity Commisslon. They are Satlsfiod that thè objeGt5 of the Charlty and Ihe a¢llvltles of Ihe Charlty are wllhln
Ihe definitions of Charitable Purposes as sel down in the Act. The tnjslees ara not awar8 of any public detrlmonl caused
by the Charitys objects or activities, and nor are they aware of anyone recelving 8ny pHvate benafit from the Charlty's
actfvllies.
The Foundation maka8 grant8 so181y to other ¢harft19s. each of whlch wlll make an opproprlate stalemenl as tr) how they
achieve th8ir aims for publlc benefit. Interested parll&s may wish lo consult the Trustees, Reports of those organlsallons
independentty for further details.
A5 expected, the Foundation has made slmllar amounts in grants in 2024 compared to 2023. It Is antlclpaled that major
new grants w511 be somewhat restricted due to depletion of available fullds.. The Foundation's planngd grants include to
local arts fesuval, a homeless charfty, cancer researGh and a local childrens hospice.
FINANCIAL REVIEW
Revlew of transactlons and nnan¢lal positlon
Durlng the year. the charlly recelved Income of £407,72712023.' £351,289), mainly consSsting of int&rest of £202,727
{2023'. £131.168) and rent r8ceivable of £205,000 12023- £220,128}. The trustees considered a number of grant
appllcations during the year and donallons wgre made to thlrteen charltlos.
Investmenl pollcy and rosorve8
The pollcy of Trustees Is to fataln raserves In cash. All cash reserve5 are held in an interest bearing account. At 31
Dg¢omber 2024 Ihe total free reseNes held by tho charfty were £597,456. The trusteos can at thelr dlsorotlon, draw on
the free reserves of the expendable endowment fund whlch at 31 Decèmber 2024 had current r8serves of £3,760,157.
The Trustees purchased No 1A Royal Cre￿en1 for a sum of £1,050,OOD on 31 October 2006. The buildino was
subsequently remodellod for use ag a museum,.
On 23 Juns 2011 Andrew Brownsword donatsd threo freehold propertles to the Foundallon. These are accounted as
long term commercial property investments wlth long standing tenants.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Gov&rnlng document
The charitys object8 and provlslons are regulatad by a trust deed dated 11 June 1992. The charity's registered chaiity
number 15 1012615.
Page 1

. Br(wnsw
Charitable
ndatlon
ort of the
for tho Year Ended
1 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
. Organisallon of the ¢harfty
The Iru8lees have met whenever they needed to rqview appll¢ations for grants, D8clslon8 are made when the twstees
have reached a unanlmous agreemenL Thg chariiy Is admlnlstsred in Bath by Nlcholas Bums, under the supervision
of th8 twste85.
Re¢rultm6nt and training of new twstees
Should a need arise to appoint new or addillonal Irustees, conslderatlon will bè glvon to the experience and credibllity of
the candidato.
New truste8s ￿1[ be giv8n ev&ry opportunity to 8pend timp with other offtcers of the Foundatlon and will b6 Inducl6d on
tho procgdures and prnclices a￿OrdInglY. Speciflc Iralnlng will be tallored lo Iho Ind￿Jdual,S neèds and requirements.
Rl8k management
The Tru$t88s have reviewed the charivs actlvllie8 and assessed the opportunilies available to Ihe charity and the risks
l(tbFhlcMINwvxyu$trAFa-resultnf"Ihls-process-, th&truslg8s-hav8-a-rfsk-manag8m6nl"strategy"which-Gomprl$e&oF8n
annual revi&w of the rlsk which tho charSty may face,. Ihe eslablishmenl of pro¢e(Jures to mlligale (hose rlsks" Identified
during the annual rlsk revlew., and the implgmantatlon of procedure8 do8igned to minlmlse any polantlal Impact on tha
charily should any of those risks maledali$e.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglst•rod Charlly number
1012615
Prln¢lpal addres8
4 Queen Square
Bath
BA12HA
Trustees
Mr A D Brownsword
Mr P Matth8WS
Ms A Brownsword-mallhews
Dr N L Howse
Audllors
Sum6r Auditco Limited
statutory Audilor
Chartered Accountants
County Gale
County Way
Trowbridg8
wiitshlre
A147FJ
Banking
The charity holds current and Investment accounts with the National Westmln8tsr Bank. The branch address is PO Box
4349, Worihing, BN113EQ.
APPOINTMENT OF AUDITORS
A resolution lo reappoint Sumer Audilco Limltod as audltors wlll b8 proposed at the Annual General Me8ting.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Iruslees ar8 résponsible for pr8paring the Report of the Tru8tees and the financial 81alements in accordanc8 wllh
applicable law and Unlted Klngdom Accounting Standards (United Kingdom Generally A¢cepted Accounting Practice).
Page 2

Brownsword Charltab
e Foun
allon
Re ort of the Tru
he Year Ended 31 Decembor 2024
STATEMEpif OF TRUSTEES, RESPONSIBILITIES - ¢ontlnued
The law applicab16 to charities In England and Wales. the Charftles Act 2011, ChariEy (Accounts and Reports)
R8gulations 2008 and the provisions cf the trust do6d r6qulr8s thè truste6s to prepar9 financial slalements for each
financial year vA)Ich give a true and fair view 9f the stat6 of affalrs of tho charity and of the incoming rasources and
appll¢ation of resources, Including Ihe inGome and expgndlture, of the charity for that perlod. In preparlng th08e financial
statements, the trustees are required to
sel6ct 8Uitabl8 accounting polici88 and th8n appty them conslslontly,,
observe the method8 and princlpl8s In the Charity SORP.,
make Judgements and estimates Ihal are reasonable and pwdent.,
prepare the financial slat&menls on the golng concern basis unlo88 it inapproprlate to presume that the charlty ￿%11
contlnue In buslnoss.
The tN6lees are responslbl& for k66plng proper accoundng re¢ords whlch dlsclose wlth reasonable aGauracy at any
tSme the financial position of the ¢h8rity and lo enable them to ensure that the financlal 8tatements comply th8
Charllles-AcL20_11.the-Charlty-(Accounts-and-Reports)-Regulalion8-2-008-and-Ih8-provisiDns-of-th8-truskdeed.-They-are
also rèsponslble for saf8guardlng the assets of the charlly and hence.for taking reasonable sleps for the prevention and
delectlon of fraud and other Irr6gularftl$s.
Approved by order of the board of trustees on
and slgnad on Its behalf by:
Mr A Ci Brownsword - Twstao
Page 3

ort
the Inde
endent Auditors to the Trustees of
Brownsword Charitable FoundatSon
Opinion
We have audited the financlal statem8nts of Brownsword Charitable Foundallon (the 'chariV) for the year ended
31 Decernber 2024 which compriso tho Statement of Flnancial Aclivitles. the Balance Sheet and notes lo the financlal
Statements, Includlng a Summary of slgnlficant accounting policies. The finan¢lal reporting frameworf( that has been
applied In thelr preparatlon Is applicable law and Unlted Klngdom A¢¢ounllng Standards {Unlted Klngdom Generally
Accept8d Accountlng Practlce).
In ouTroplnion th¢ finanGlal slalemenls.,
givg a true and fair view of the state of Ihe Qharlty's affalrs as at 31 December 2024 and of Its Incomlng resourc8S
anrj appll¢atlon of resources, for the year then ended.
hava bèen properly pr&paréd In accordance wlth Unltsd Kingdom G8n8rally Accgptad A￿OUnt￿n9 Practlc8; and
have been prepared in accordance with the ￿QUireMents of ths Charities Act 2011.
Basis for oplnion
We condu¢led our audil in accordanoo with Intemalional Standards on Audlting {UKI (ISAS (UK)) and appllcabl6 law.
Our responslbllltles under those standards are further described in the AudltDrs' responsibililies for the audit of the
flnan¢lal statements 5ectlon uf our report. We are Independent of the charfly In accordance wlth the ethical
rèquirements thal are rel8vant to our audlt of the flnanclal slalemènls In the UK, Induding the FRC'S Ethical Standard.
and-w8-have-fulfllled-our-other-ethiGal-re8pon8lbllllles-In-accordanGe-wilh-thes&rèqulremenWWa" bg118vo4hat-the-audl
VIden￿ we have obtained is suffidenl and 8pproprlate to provide a basis for our opinlon.
Con¢lu$ions relaling to goin9 ¢oncgrn
In audlllng the finanGial statemen15, we havo ¢Dncluded that the trusl&e8' Use of the going concern ba818 of accounting
In Ihg pr&paratlcn of th8 flnanclal statements18 approprlate.
Based on the work we have performed, we hava not Idenllfled any matsrlal unc6rtalntlo$ relallng to aV6nts or condition8
thaL individually or collectively, may casl slgnificanl doubl on thg charity's ability to contlnue a8 a going concern for a
perlod ef at least twelve months from when Ihe-financial statemenls are aulhorised for issu8.
Our r6sponsibllltle5 and th8 responslbilille$ of the Irustees wlth respect lo golng concorn aro described in the relevant
sections of this repcrl,
other infoTmation
The Iruslees are respon3ible for the other information. The other informatlon comprls8s th8 Informatlon Included In Ihe
Annual Report, other Ihan the financial statements and our Report of the Indep8ndent Audllors thereon.
Our oplnlon on tha flnanclal stataments does not cover the other Information and, except to the extent otherwise
expllcitly 81aled In our r6POrt. we do not axpr8ss any form of assurance Concluslon thereon.
In conneclion wlh our audit of the financial 8tatements, our responslbility 15 to read the other infonnation and, in dolng
so, consider whether Ihe other information Is materially inconsi8tent ￿th th8 Ilnancial stat8menls or our knowladg8
obtained in the audlt or otheNise appears lo be materially misstat8d. If w8 Idenllty such material incon8islencies or
apparent malerlal mlsslatemenls. we are required to delemiine whether thls gives rise to a material tnisstatement in th8
flnanclal statsments th8mselv8s. If. based on Ihe work we have perfomied, we conclude that there is a malerial
m18Stateménl of thls other Informatlon. wg are requlred lo report that fact. We have nothlng lo report In Ihls regard.
Matters on whlch w& are requlred to roport by exceptlon
We have nothlng trj report in respect of the following matters where the Chadtles {A¢counls and Reports) Rggulations
2008 requlre8 US to report to you If, in our opinion..
the infomiation given in the Report of thg Twstefys Is inconslstent In any malerlal respect ￿th the 1Snancial
statements" or
sufflclenl accounting records have not been kept,, or
the flnanGial statements are not In agreement with the accounting records and retUm$,' or
we have not recelv6d all the Informatlon and explanatlons we requlrè for our audit.
Respon8lbllltle$ of Irustee6
A8 explained more fully In the Stslement of Trustees, Respon$lbllltles, the trustees are r8spon5ib18 for th8 preparatlon of
the financial statements which give a true and fair vlaw, and fcr such Intemal control as th& truste8s determine is
necessary to en9ble Ihe preparation of flnancial statements Ihal ar8 fr88 from materfal mi881atement, wheth&r duo 10
fraud or error.
In preparfng the financlal statements, the trustees are responslble for a880$8ing the charivs abillly lo continue as a
goirKJ concern, dlsdr)slng, as appll¢able, matters related lo golng concern and using the going concern basis of
accounting unless th8 trustees either intond to liquidate the charlty or lo cease operations, or have no realistic
allernalive but to do so.
P8ge 4

ort of the Inde endenf Auditors to the Trustees of
Brown
wo
harl
Our.responslbilities for the audlt of the flnanclal statements
We have been appolnted as audltors under Sectlon 144 of the Charltles Act 2011 and report In accordance wllh th8 Act
and relevant regulatlon$ made or havlng effect thereunder.
Our objectives are to obtain r8asonable assurance about whether the financlal st3t8menl8 as a whole arg free from
material misslalemenl, whether due to fraud or 8rror, and to issue a R@port of the Indep8nd8nt Auditors that include8
our opinlon, Reasonable assuran¢e is a high 16vel of assurance, but is not a guarantee that an audlt Conducted in
accordance with ISAS (UK) will always éete¢t a malerlal mlsslalement when it e￿SIs. Misstatements can arfse from
fraud or èrror and are consldared mat&rlal If, Individually or In the aggregate, they could reasonably ba 8XPeCted to
Influence the economic decisions of users taken on the basls of th888 financlal stal8m&nts.
The extent to Yknlch our procedures are capable of dglectlng Irregularltles, Includlng fraudls detalled below..
Based on our under8tandlng of the charity and sector, we Idenllfigd that the prfnclpal risks of non-¢ompllance with laws
and regulatlons related to charfly legislation. and w8 conslder8d the extent to which non-complianc8 might hav8 2
material effecl on the financial slalemenls of the Charily. We also considered those laws and regulalions that hav6 a
dlréct Impact on the preparatlon of the financlal ststem8nts such as the Chaiiti88 Statement of Recommended Practice.
WO evalualgd manag8m&nt's Incèntlvos and opportunltl&s for fraudulent manlpulation of the flnanclal statemants
(Includlng th8 rlsk of ov8rrid8 of controls), and determined that the prlnclpal rlsks wor8 rolalod lo potontlal lack of
segregation of ¢Juties, bookkeeping errors and management blas in accounting estimates and judgemenlal areas of the
rinancial slalements. Audit procedures performed by the audit engagement team included:
Enqulry of managemant and tho88 charged wlth govemance about any known or suspected instances of
non-compliance wlth laws and regulations and fraud.,
Gaining understanding of managemenl's internal controls deslgned to prevent and detect irregularities, and fraud,,
Reviewing minutes of meetings of those Gharged with governance and any cotrespondenGe with The Charity
Commisslon".
Revlewing financial statement disclosures and tsstlng lo supportlng documentation lo asse55 complianoe ￿th
appllcable laws and regulations.
Performing analytlcal procedures to identify any unusual or unexp8Ct8d relatlonshlp that mlght Indlcate a rlsk of
material mis$18lemenl due to fraud.,
Performlng audlt work over the rfsk of management overrlde of controls, evaluating the business ration81e of significant
tran5aGtions outsld8 the normal course of buslness and revIe￿ng accountlng estimates for bias.
A further description of our responsibililles for the audit of the financial statements Is located on the Flnanclal R6portlng
Council's website at www.frc.org.uklauditorsresponsibilities. This description fcrm8 part of our Raport Df the Independent
Auditors.
Use of our report
This report is made solely lo the charitls trustee8, a$ a body, in a￿rdance with Part 4 of the Charities (Accounts and
Reports} Regulallon$ 2008. Our audlt work has been undertaken so that we might sl8le lo Ihe Gharily'$ trustees those
mattars wo ar& requlrod to stala to them In an audltors, report and for no olher purpose. To th? fullesl extent permitted
by law. we do not accept or assum8 responsiblllly to anyon8 other than the charfty and thè ¢harWs Irustees as a body.
for our audit work, for this report, or for the cpinions we hav8 formed.
Sumor Audllco Llmiled
st8tutrJry Audltor
Chartered Accountants
County Gale
County Way
Trowbrldge
Wlllshire
BA14 7FJ
Date- ...
l.(>......Qfito,ber .Z02f
Page 5

Bro
nswo
Cha
ablo Foundation
ate
f Flnan¢lal Actlvltlg
for the Year Ende
31 Decombèr 2024
2024
Totsl
funds
2023
Total
fund$
Unrestrlcted
fund
R8strlcted
fund
Endowment
fund
Notes
INCOME AND ENDOWMENTS
FROM
Invastment Income
407,727
407,727
351,296
EXPENDITURE ON
Ralsing funds
69,898
23,817
93,715
55,278
Charitable actlvltlaB
Gharltable costs
148,820
148.820
133,357
Total
3-,81
4-2-.S3
,6.3
N8t gainsl{1055esl on
Investrrienls
203,000
203.Oi)O
(448.0001
NET INCOMEI{EXPENDITUREI
189.009
179,183
368,192
{285.339)
RECONCILIATION QF FUNDS
Total thnds brought foNard
408.447
9,987,001
10,395,448
10,680,787
TOTAL FUNDS CARRIED
FORWARD
5g7,456
10,166,184
10,763,640
10,395,448
The notes form part of these financial statemen18
Page 6

Brownsword C
Itabl Fo
31 Docember2024
2024
2023
Nol8s
FIXED ASSETS
Tanglble assets
Investment property
10
1,955,027
4,451,000
1,978.844
4,248,000
6,406,027
6,226.844
CURRENT ASSETS
Dobtors
Cash at bank
12
57,846
4,378,186
33.919
4,212.204
4,436,032
4,246.123
CREDITORS
Amounts falling due wlthln one year
13
178,4191
177.5191
NEf CURRENT ASSETS
4,357.613
4,168,604 .
TOTAL ASSETS LESS CURRENT LIABILifiES
10,763,640
10,395,448
NET ASSETS
10.763.640
10,395,448
FUNDS
Unrestrfcted funds
Endowment funds
15
597,456
10.166,184
408,447
9.987,001
TOTAL FUNDS
10.763.640
10,395,448
The financial 5talemenls were approved by Ihe Board of Trustees and aulhorised for issue
1...oqS..g.F.&rt.....&? Lr . and were slgned on It8 betrlalf by..
on
Mr A D Brownswor(l-"TTuslee
The nole5 fonn part of these financial statements
Page 7

Brownsword Charltsblg Foundation
otes to the Flnanclal Statement8
forlh6 Yaar Ended 31 Decemb8r 2024
AccouKllNG POLICIES
Basls ol pr¢parfng the flnanclal statements
The flnanclal statements of the charity, whl¢h Is a publlc benefit enllty under FRS 102, have been prepared in
accordance wlth the Chafftles SORP IFRS 102) 'Accountlng and Reporting by Charitle8.' Stalernent of
R8commended Practlc8 applicable lo ¢hariti88 preparing their accounts in aocordan¢e wlth the Flnancial
R6POrting Standard applicable in Ihe UK and Republ1¢ of Ir8land (FRS 1021 (effective 1 January 2019),,
Finan¢ial Reporting Standard 102 The Flnanolal Reportlng Standard appllcable sn the UK and Republlc of
Ireland, and the Charltlgs Act 2011. The flnanclal statements have b6èn prepared under the h1stori￿1 cost
conventlon, as mod1fl8d by the revaluatlon of certaln assets,
The financial statements have been prepared to glve a 'lrue and falr, vlew and have departed frDm the Charltles
(A￿OuntS gnd Report8) Regulatlons 2008 only to Iho extent requlr8d to provlde a yrue and falr vlew. This
departure has involv8d followlng the Accountlng and Reportlng by Charilias.. Statement of Recommended
Practice applicable to charities preparing their accounts In accordance wilh the Finan¢i81 R8porting Standard
applicable in the UK and Republic of Ireland IFRS 102) Issued on 16 July 2014 rather than the Accounting and
RepOrting-b￿CharlIie￿,-stst6rnent-Of-R￿c0mmended-Pr"a¢I1etreffec1ive-frOm-l-￿pFI1-2QOS-Wh1eh-hatrSlnefrbeen
withdrawn.
The most slgnlficant ar6a of adjustmènt and kay 888umpllons that affect Itams In the accounts ar8 to do with
88timatlng th8 fair value of investrllent properties (see note 12 for more informatlon). Likewise. this 15 the most
slgnificanl area of un¢ortainty that affects the carrying value of assets held by the Charily, In the next P8rf0d.
Income
Rental Income and Interest re￿1vable aro recognlsed on an a¢¢Nals basis.
Expenditure
Liabllllies are recognlsed as expendlture as soon as there Is a legal or constructlv6 obllgatlon commlttlng the
charlty to that 9xpenditure. il Is probabl8 that a Iransfar of oconomlc bonefils wlll be requlred in settlement and
the amount of th8 obllgatlon can be measured reliably. Expenditurg is accounted for on an accruals basis and
has begn classifled under headings that aggregate all cost related to the category. Whera costs cannot be
dlrectly attrtbuted to partlcular headlngs they have been allocated to actiytties on a basls oonslslent wlh the use
of resources.
Grants off8red subject lo conditions which have not been met al the yoar end date are noled as a commilmenl
but not acC￿ed as 8xpendiiure.
Grants payable
Grants payable ar8 recognised as expenditure as soon as there is a legal or constructive obligallon commitling
the charlty lo that expenditure, it 15 probable that a transfer of economiG benefits will be requirgd and the amount
of the obligation can be measured rellably. Details are given In note 4.
Govemance costs
Costs are allocated between dlrect charttable governance cosls and other expendllure according lo the naturg of
the cost. A detaSbd analysls of the allocatlon of cosls is glven on the face of the statement of financSal acliwties
on page 17.
Tanglble flxed assets
Tangible fixed assets arg statad at cost lass accumulated d6pr8ciallon.
Deprociation is calculated on a straight line basis at the following annual rates lo write off assets over Iheir
estimated useful econorniG Ilves:
Property Improvemonts 20A
Fre8hold properly is valued every five years and Is shown al the most recent valuation. Any aggregate surplus or
deficit arising from changes in market value is transferred to a revalualion reserve.
Investment property
Inveslmonl properties are measured Initlally at cost and subsequently at falr value.
Taxation
The charity Is exempt from tsx on its charitable aclivitles.
Fund accountlng
The Charity has variou8 types of fund8 for which it is responsible, and which requlre separate disclosure,
These are as follows:
Page 8
continued...

Brown
Charltable Foundatlon
I I Statements - contlnu&d
for the Year Ended 31 De¢em
r 2024
ACCOUNTING POLICIES - Contlnued
Fund accountlng
Unr8strl¢tsd fund8
Tho unrestrict6d funds are funds that can be used by the Foundatlon towards opgratlng costs and towards Its
charllabla objects,
Expendable endowment fund
The endowment funds wero glven on the underslandlng that they are to b6 h61d by the Charity on a long term
basis. prlmarlly to support thè work of th6 Charlty by generating Income or ¢apltal gr0￿h. The endowment fund
Is an expandable endowment, meaning Ihal the tru8tees at their discretion can draw on the capital of th8 fund
when they consider it necessary lo support the operatlonal work of Ihe Charity. Expendlture directly atlributablg
to the malntenan¢e cr protecllon of a88818 in the endowment fund Is accounted for as an expense of th
endowment fund,
INVESTMENT"INCOME
2024
2023
Rental Income receivable
Interesl receivable
205,000
202,727
220,128
131,1B8
407,727
351,296
RAISING FUNDS
Invoslmant managomgnl costs
2024
2023
Bad debt oxpense.
Legal and professlonal fees
Insurance
Management fees
Repairs and renewals
Light and heat
Depreciatlon
(4,465)
6,226
9,621
9,975
38,079
S,997
23,817
8,494.
6,000
15,718
5,714
23,817
93,715
55,278
GRANTS PAYABLE
2024..
2023
Charilable Gosts
144,000
129,500
The lolal grants paid to Institutions during th8 yèar was as follows:
2024
2023
Flrsl Stèps
Arts Taunton
Jessi6 May Trust
Balh Clty Farm
Fight Against Bllndness
Cancer R8s6arch UK
Julian House
Bristol ChI￿ren$ Help Society
Macular Society
Melslon Llzard Rotary Club
Off the Record BANES
Bath Communlty Transport
Soulhsld8
Mountbatten
10,000
30,000
5,000
5,000
3,000
60,000
50,000
5,000
2,000
3,000
60,000
5,000
2,500
2,000
3,000
3,000
2,000
5,000
5,OOQ
5,000
l i
8,000
144,000
129,500
Page 9
conlinu8d.

Brown5viord Ch
able Foundatl
Note8 to the Finan
em
nts-co
for tha Year Endod 31 December 2024
ue
SUPPORT COSTS
Govarnancè
costs
Managomenl
Totsls
Charltablo costs
320
4,500
4,820
AUDITORS. REMUNERATION
2024
2023
Fees payabl8 lo the charlty'8 audltors for the audit of the ¢harlVs flnanclal
ststem&nts
4,500
3,857
TRUSTEES, REMUNERATION AND BENEFITS
Ther￿we￿n￿trustaOs,_rQm￿neraI1on￿lr-0Iherbener1I8-fOTrlhtrY88r-ended-8-l-pe¢emb0￿2O24-R0r for-Ih>year
ended 31 December 2023.
Trustaes. expèns08
The amount of expenses paid to trustees totals £320.
STAFF COSTS
Tho charity had no employeas In 2024 {2023 - Nil)
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNITIES
Unreslricled
Restricted
fund
fund
Endowrri&nl
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Investment income
351,286
351,296
EXPENDITURE ON
Raising funds
31,461
23,817
55,278
Charitable a¢tlvltle8
Charitable costs
133,357
133,357.
Total
164,818
23.817
188,635
N8t galnslllosse8} on investments
1448.0001
1448,000)
NET INCOMEI(EXPENDITUREI
166,478
(471,817)
1285,3391
RECONCILIATION OF FUNDS
Total funds brought foward
' 221,969
10.456,818
10,680.787
TOTAL FUND8 CARRIED FORWARD
408,447
9.987,001
10,395,448
Page 10
conllnued...

Brown8word Charltablg Foundation
Note8 to tho Flnanclal Stat9ments - continu
for the Year Ended 31 Dacemb8r 2024
10.
TANGIBLE FIXED AssErs
Land and
bulldings
COST
At 1 January 2024 and 31 D8cember2024
2.240,829
DEPRECIATION
At 1 January 2024
Charge for year
261,985
23,817
Al 31 December 2024
285,802
NET BOOK VALUE
At 31 December 2024
1,955,027
ecember
11.
INVESTMENT PROPERTY
FAIR VALUE
At 1 January 2024
Revaluation
4.248,000
203,000
At 31 December 2Q24
4.451.000
NET BOOK VALUE
At 31 December 2024
4,451,000
At 31 Decamb8r 2023
4,248,000
Fair value al 31 DeGember 2024 is represenled by..
Valuatlon In 2020
Valuatloti In 2021
Valuation In 2022
Valuatlon In 2023
Valuallon in 2024
4.350,000
1,060,000
1714,000)
1448,000>
203,000
4.451,000
The Inve81ment propertles were initially valued by Derek Walker, Chartered Surveyor in 2011 and have been
adjusted in line with marf(el ind8xation.
12.
DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2024
2023
Debtors
Prepayment$ and accrued InGome
40,094
17,752
33,919
57,846
33,919
Page11
conlinued...

Brownsword Charltable Foundation
Notes to the Flnanclal Stalements . continu
foy th6 Yoar End6d 31 Dacembar 2024
13.
CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Cr8dltors
Accruals and deferred In￿M0
1,500
76,919
1,500
76,019
78,419
77,519
Doforrod Income
Dèfèrred Income movement in the yegr and th¢ prior year are as follows.'-
2024
2023
Balance deferred.as at 1 January 2024
A"mountrreleasad-to-incomlng-r8sourc8S
Amount def8rr6d In year
45,419
145-419)
45,419
66,169
66-,1691
45,419
alance deferred as at 31 Decgmbor 2024
45.419
66,169
Def9Thèd Incomo comprlsed servlce8 Involced in advance of the perlod in which thby are to be delivered.
14.
ANALYSIS OF NET ASSETS BEIWEEN FUNDS
2024
Total
funds
2023
Total
funds
UnrestriGted
fund
Restricted
fund
Endowment
fund
Flxed assets
Inv8Stment5
Curr8nt assets
Current liabilities
1,955,027
4,451,000
3,7eO,157
1,955,027
4,451,000
4,436,032
{78,419)
1,978,844
4,248,000
4.246,123
{77,519}
675,875
{78A19)
597.456
10,166,184
10,763,640
10,395,448
Th8 Charfty has varlous Iypa8 of funds for which il is responsible, which requir& separate disdosure.
Th88e ar8 as follows-
Unrestricted funds
The unre3triGled funds are funds that Can be used by the Foundallon towards operating Gosts and towards 115
charitable objects,
Expendable endowment fund
The endowment funds were given on Ilia understanding Ihal thgy arg lo be held by the Charlty on a long term
basls, prlmarlly to support the work of the Charity by generating incom& or capitsl growth. The endowm&nt fund
Is an expendable endowment. Meaning Ihal the trusl88s at their dkscrallon Can draw on the capltal ol the fund
when they ￿nSIderI1 necessary to support the operatlonal work of the Charfty. Expenditure directly attributable
to the malnlenanue or p￿tectIon of a8sel8 In the endowment fund Is accounted for as an expen3e cf the
endowment fund.
15.
MOVEMENT IN FUNDS
Nel
movement
in funds
Al
31.12.24
At 1.1.24
Unre$trlcted funds
General fijnd
408,447
189.009
597,456
Endowment funds
Expendable endowment
9,987,001
179.183
10,166,184
TOTAL FUNDS
10.395,448
368.192
10,763,640
Page 12
continued...

Brownsword Charltablo Foundation
Note8 to the Flnanclal Slatement
forthe Y•ar End8d 31 Decembar 2024
15.
MOVEP4lENT IN FUNDS . contlnued
Not movgment In funds, Included In Ihe above are a8 follow5-
Incomlng
resour¢oS
Resourcgs
6xp&nded
Gains and
1088es
Movement
in funds
UnT88tricted funds
General fund
407,727
1218,718)
189.009
Endowment funds
E￿ndable endowm8nt
{23.817)
203,000
17g,183
TOTAL FUNDS
407,727
1242,535)
203.000
368,192
Comparatlvas for movement In funds
Nel
movement
In funds
Al
31.12.23
At1.1.23
Unrestricted fund8
G8ner81 fund
221,969
186,478
408.447
Endowment fund5
Expendable endowmenl
10.458.818
(471,817)
9,987,001
TOTAL FUNDS
10.680,787
(285,339)
10,395,448
Comparallve net movement in funds, included In the above aro as follows..
Incomlng
resource
Resources
expended
Galn8 and
losse8
Movement
in funds
Unres¢ri¢tsd funds
General fund
351,296
1164,8181
186,478
Endowment funds
Expendable endowment
123,8171
(448,0001
{471,817)
TOTAL FUNDS
351,296
1188,8351
(448,0001
{285,339)
A current year 12 months and prior year 12 month8 ￿rnbined position 13 a5 follows..
Net
mov8ment
in funds
Al
31.12.24
At 1.1.23
Unrestrlcted funds
General fund
221,989
375,487
597,456
Endowmentfunds
Expendable endowment
10,458,818
(292.634)
10,166,184
TOTAL FUNDS
10.680.787
82,853
10,763,640
Page 13
conlinu6d...

Brownsword Charltable Foundatlon
N tes to the Flnanclal Statements . contlnuod
for th
r Ended 31 De¢omb8r 2024
15.
MOVEMENT IM FUNDS- continued
A current year 12 months and prlor year 12 months comblned n8t movement in funds, In¢luded In tho above ar&
as follows..
Incomlng
resourc65
Resources
expended
Gains and
10s8es
Movement
In funds
Unre81rictgd funds
General fund
759,023
1383,536)
375,487
Endowment funds
Expendable endowment
{47.634)
1245,000)
1292,634)
TOTAL FUNDS
759,023
1431.170)
1245,000)
82,853
16.
CONTINGENT ASSETS AND LIABILITIES
Durlng the y&arwork was undertaken on a vgcanl propety ownod by the charlty. It Is 8xp6ct8d Ihat all or m081 of
Iho work where It relates to dllapldatlon wlll b6 pald for by the fornier tenant of the property. However, no asset or
liabillty has been Included In these accounts as it is has nol been pos$iblg lo reltably esllmate th8 lolal amount of
the Ilablllty or the amount that may be pald by the former tenant.
17.
RELATED PARTh DISCL08URES
Thgr6 were no related party Iran8aotions for the year ended 31 December 2024.
Pag8 14

Brownsword Charitable
oundatio
Datalled StBtoment o
Acliv
for tha Year Ended 31 Dacfrmber 2024
2024
2023
INCOME AND ENDOWMENTS
Investment Income
Rental income re¢elvable
Interest recelvabla
205,000
202,727
220,126
131,168
407,727
351,296
Totsl incoming resour¢o$
407,727
351.296
EXPENDrfuRE
Inve8tm6nl managomént cost8
ad debt expen89
Legal and profèssional fè8S
Insurance
Management fees
Repairs and renewals
Light and heal
Depreclallon of freehold property
46&1
6,226
9,621
9,975
38,079
5,997
23,817
8,494
6,000
15,718
5,714
23,817
93,715
55,278
Charitable ac¢iviti6s
Grants to 111stitutions
144,000
129,500
Support costs
Management
Travel Cos18
320
Govemance costs
Audilor8' remuneratlon
4,500
3,857
Total resources expended
242,535
188,635
Net income beforo galns and losses
165.192
162,661
Realised recognlsed galns and loss
Realised galnsl{lossas} on fixéd assat
investments
203.000
{448,000}
Not Incomel(èxpendlture}
968,192
{285,339)
This page does not form part of th8 Stalulory flnanclal statem8nts
Page 15