Charlty number.. 1056607 BROWNBERRIE EDUCATION TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
BROWNBERRIE EDUCATION TRUST CONTENTS Page RoferonGe and 4dminl8tr8llv8 delails of the Charftyi Its Trusteos and advlsers Trustses. roport Indèpèndent audStols rgport on the financlal statoments Consolldated ststemenl of flnancial actlvitios Consolldated balance sheet 10 Char4ty balance Sheet Con801idated 8tat6mgnt of cash flows 11 12 NotwJ lo the flnanGlal ¥tat•m•nt8 13-28
BROWNBERRIE EDUCATION TRUST REFERENCE AND ADMINISTRATIVE DETAIL8 OF THE CHARITY, IT8 TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Tru$tsos Mr A J Ledgeway Mr R G Walker Mr R Smaldon Th& Trust holds lille lo Ireehold land and buildings al York Campus, Bishoplhorpe Road, Bishoplhorpe, York, Y023 2QA, and leases a Satellite Campu& Springwo11, 60 Pear8th H811 Road, Tyn8 & Wear, NE9 7NT. Charlty reglstsred number 1056607 PrSnclpal offlco 7 Bedford Road Nunlhorp8 Middlesbrough TS7 OBY Indopendont audltor Crowé U.K. LLP Fourth Fioor st Jam88 Housè Sl Jame8 Squarè Chertenham GLSO 3PR 8ankèr8 rgln Money 181 Floor 40 Sl Vincent Place Glaygow G12HL Pago 1
BROWNBERRIE EDUCATION TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees of 8rownb8rrie Education Trust present their annual report and aLJdiled accounts for Ihè ye8r ended 31 sl December 2021 and Confirm they comply with the requireman18 01 the ChBrilies Act 2011, the Trust deed. FRS102 and the Chari118s SORP {FRS 1021. Ob-ectiV8s and Actlvltl•$ The ch8ritable objects of the Trust are the advancement of thg educallon of chlldren and young pe¢)ple through the provision of education siles and premises. Thè objects also Include any other charitable purp088 for the bonefil of th8 worWIde Chrlstlan fell¢)wship known as the Plymouth Brethren Chrlslian Church In furthèrance of ils object8, the Trust prov1des premlses under formol lease for an independent school based In York & and Satellite Gafflpu8 based in Springwell, Ngwea8tle, which has been run by Oneschool Global UK IOSGUKI. Thè Trust also provides grant funding and othèr flnancLql 8UPPOrt lo OSGUK at the dlscretion of the Trustee8 in order lo enable OSGUK lo provide a well-balancod oducali¢)n al prknary and $e¢ondary16v61$, for childr8n and young people whosè parents appreciate the Chrisllan ethos. Succ86818 measurgd In torm$ of thé provlslon of appropriate facllltlg5 to OSGUK whllsl rnlnlm18ing 8xpendthr6. This In tum, free8 up fund8 for ralsing standards of educallon for all concern6d and for the Improvement of facilllles lor pupll8 and 8tsff alik•. The Tru8lee8 have referrgd lo Ihg guidance conlalned Sn the Charmy Comml88lon'8 general guidance on public benelll and have regard to il when reviewlng their aim8 and obleclive$, ttnd In plannln9 Ihelr fijlure activitles. In particular they considèr how planned acllvlli8s will conlribLrt& lo th8 educational aims and (Jbledives thèy have set. Volunteers are an integral part of the communlly ethos and valu88 of Ihg Tru8t and Ihere are Strong and willlng group of volunlegrs who 8881st and Support the Trust throughout th8 y88r. tru an Brownberrie EduGalion Tru$l is ¢on8lltuted by a De8d of Trust dgled 31 May 1996, amgnded 8 Odober 1997 and IB registered with tha Charlty Commi881on for England and Wala8. The Truslaes who 8erved durlng the year and since the y8ar end are set out on paga 1. None of the Tru8tee8, nor any person connected with them, recelvod any remuneration Irom the Tru81 in tho year gnded 31st Dècember 2021 (year ended 31 $1 Oecambèr 2020 £nlll. The power lo appoint Trust¢¢81$ Inv681ed In the 8xisling Tru81ee8 subject Ic tho Tfu$I D¢ed requiremgnt. Tru8tee8 ar8 Solecled according lo their own 8peciali8m in a particular field and are expected lo pursu8 that speciallsm. New Trustees are instructed in thè need lo completely adhere lo the elho8 and values of the Trust. The Trustegs have examined the major strategic, business and operallonal risks that the Trust faces. The Truslaes ar8 satisfied that the major risks identified have been adequately milgaled where necessary. It18 recognis8d that Sy8tem8 can onty provlde re880nablg bul not absolute assurance that major risk8 have been adequatgly managed. Throughout the year the Trust has continued to proiride educational prerni8&s in support of the educational activities of OSGUK. On the 3181 July 2021 the Trust was gifted by The Northumbria Education Trust the whole of the issued sharg capital of A¢ad Trading Ltd (Company Number 083163051 and now holds the share8 of ACAD Trading Ltd as a wholly Own sub$idrary Company, whi¢h undertakes trading activities. All profits ¢hargeablg to cgrporallon tax Page 2
BROWNBERRIE EDUCATION TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 are glfted lo the Trust in 8UPPOrt of the charttablo aclivilie8 of the Tru81. Financlal Revlew In th¢ y88r anded 3181 Decèmbèr 2021 the Group r&portBé 8 nel 8urplu8 of £419,93112020 SUTpIu8 of £86,429). All funds are ur¢reslrithd. The Trust Is supported and flnanced prlnclpally by profits from ils trading subsidiary ACAD Trading Ltd plus other od ho¢ donations and Ihosg raised by fundraising events and grant8 from th8 Grac6 Trugl. In 2021 the Trust r8ceiv8d £50,000 in donations from ACAD Trading Ltd for which the Truslegs are very grateful. The Trust also r8ceived £45,156 from Northumbria Eduogtion Trust and £272.000 in gran18 from thè Gracè Trust for which the Trusloès ar8 Ilk8wlsè véry gratèful. The Trustee8 beli8v& that the Trust'8 funds are sufficlenl to miligale any short to medium tem risks of rgduced fundlng. The Tru$l'$ fundral$ln9 evenl$ prlnclpally op6rate withln thè Br6lhr8n MmUnIty and prgfesslonal fundralser8 are not U59d. Neither the Trust nor any person acting on behalf of the Trust was subject lo Bn undertaking lo be bound by any voluntary sch8me for regulallng fiJnd-rai$ing, or voluntary 8laniJard for fund-raising in respect of aclivlll88 on bahalf olthe tru81. Th8 Trusle88' pollcy Is lo mainlaln mlnlmum free re8erveg al a lev81 whSch equates lo slx monlh8' unr8¥lrfcled expenditure. Thi8 Is approxlmalely £119.000. A$ at 3181 Decembèr 2021 the free r88erves of the Tru81 were £506,175 {3101 De¢ember 2020 £31,077), Aft&r maklng appropr5ale enqulrfes, the Tru8lee8 hav& a reasonable expeclallon that the charity ha$ adequate resources lo continue In operatlonal 8xlslance for the for88oeable fijlure. For IhI8 reason,11 contlnues to adopt the going concern basls In pTeparfng the financial slalement8. Furthér details ragarding the gdoplion of the golng conoem basis can be found In the Accounllng Poli¢ioS. The Trus1&88 plan to continue to 8upport OSGUK lo provide a quallly and dellver a con818tenl and high level of 8ducallonal èxp8ri&ncè and ouleome for all students and 8laff, in a¢Gordance with Ihg Trust's ethos and valu8S. As part of our continual improvement, the Trust has bèén eonsidering the location and standards of the current property, and Is lookln9 to Invest In either the oxisling property or lo consider a relocallon, whleh could incur significant cash flow, although the existing property 18 a valuable a8$01 which Gould fund o potential relocation, thu8 millgaling risk for the Tru81. Page 3
BROWNBERRIE EDUCATION TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Statèmént ol Trustees, Res sibiliti08 The tru81ees ar8 responslble for preparing the Annual Report and the flnarlcial statements in 8ccordance with applicable law and Unf(ed Kingdom Accounting Standards Iunited Kingdom GènerallyAccepl8d Accounllng Practi¢el. The law applic8bla to charille3 In England and Walès requires the trustees to pr8par6 flnanclal slalemenls for each flnancial year which give a truè And fair view of the slate of affairs of the charity and the group and ol th8 incomlng resourc&8 and application of resourc88 of the chariloble group ftsr that p8rlod. In preparing th&s8 fln8nclal sl818menl¥, the Iru8lee8 arg rgqulred to.. Select sultable accounting poli¢ie8 and then apply Ih8m conslslanlly, observe Ihg rnethods and principles In the Chariti88 SORP., make judgements and esllm8le8 that are reasonable and prudent., slate whelher applicyblg accounting standards have been followed, subject to any malerlal departures dlsdos8d and 8xplained in the flnaneial 8tatemenls', ppare the financial 81alem8nts on the golng concorn ba8is unle88 It is inappropdale lo pr88ume that the charity and group wlll Gonlinue In bu6ine$$. Tht Iruslaès are responsible for kegping proper accounting rècords that dlsclo8e wlth r8asonablg accuracy al any lime thb h'n8nci81 p0811lon ol thè charlty and the group and enablo them lo ensur8 that the financial stalgment5 comply w11h the Charities A¢t 2011, th8 Chartty (Accoun18 and Reports} Regulations 2008 and th8 provi8ion8 ol tho Tru¥l d&8d. They are a180 responslble for safeguardlng the a8sel$ of tha charlly and the group and hanee for taking reasonable ¥lep8 for the prevention #nd detecllon of fraud and other Srrogularllles. Appr¢)ved by ord¢r ol the members of the board of Trustees and slgned on thoir b•haW by.. Mr R Smald¢Jn Trustea Dat?.. Ji I•3(r JOAL Pagè 4
BROWNBERRIE EDUCATION TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWNBERRIE EDUCATION TRUST Oplnion W8 have audited the financlal 8lalemen18 of Brownberrie Education Trust {Ihe 'parenl chadtll and its 8ub8idiaries (thè 'group'l for the y&ar ended 31 D&c8mb8r 2021 whlch compri$6 the Consolidated statement of flnancial acliviti8s, thè Consolidated balance 8heel, the Charity balance sheet, th& Consolidated 8lalèmenl of cash flows and the related notes, induding a summary of significant accounting pollcies. The financi81 reportlng fr8mework that hs8 been applied in their preparation is applicable law and Unlled Kingdom Accounting Standards, including Flnancial R8POrtlng Slandald 102'Th6 Fin?ncial Reporting Standard applicable In th8 UK and Republic of Ireland, {Uniled Kingdom GerallY AcGeplgd Accounting Practice). The financial 8t8lemonls have beèn prepared in acGordanc8 wllh Aecounllng and R8porting by Chariti88 preparlng Ihelr accounts In accordanc8 wllh tha Financial Reporting Standards applicablg in the UK and Rèpubllc of Ireland {FRS 1021 in preference lo the Accountin9 and Reportlng by Charities.. Sialemant of Rè¢ommended Praclk8188ued on 1 Aprll 2005 whlch18 rèfarred lo in the oxtanl règulations bLrt h88 been wllhdrawn. Thls h8s bè8n domè in ord8r for the accoun18 to prDvlde a true and falr vlow In accordanc8 with the G8n8rally Accepted Accountin9 Practice effeclNe for reportlng perfods beginning Dn or aftèr 1 January 2015. In our oplnion tha financlal stHtomenls'. giv8 8 INe and f&lr view ofth8 81919 of the Group's and of the parent charftys #ffairs as al 31 December 2021 and of th& Group's Incomlng r&sourc8s and application of rè$ourco5, Including 118 Income and oxpendilure for Ihg year then ende(I', have begn property prepargj In 8ccordanco wllh United Klngdom G6nerally Accepted Accounllng Practice., and have bggn prepared In accordanco wh the requirements of th6 Charities Act 2011. 84sls for oplnlon Wg conducted our audit in 8ccordance with Intemallonal Standards on Audltlng IUKI IISA8 {UKII and oppllcable law. Our responslbilillés undar thos8 standards furth&r described in the Auditor's responsibilities for the aud of the financial stslemenls section of our report. We are Indèpgndenl oflh& Group in accordance with the 8lhical requirgmenls that are r81evanl lo our audll of finanGial slalements in the Unlled Klngdom. Including the Financial Reporting Council's Ethical Standa, and we hav& fulfilled tsur other ethical respon8ibililies in accordance with these requiremonls. We believe that the audit evid8nce w8 hav8 obtained18 8ufficianl and appropriate lo provlde 8 b8sis for our opinion. Con¢luslon$ r91atlng to golng conoorn In audlling tha financial slal6mènl8, we havè concluded that the Tru81ee8' Use of th6 golng con¢em ba818 of accounting in tha preparation of the financ1 statements 18 appropriate. Based on the work we have perfomied, we have ntsl identified any material uneertainlie8 relating to ev8nts or ondilions that, individually or collectively, may cast slgnlflcant doubl on Ihe Group's or the parent charity's abilty lo continue a8 a going concem for a period of al lea81 twefv9 months from when the ff nanclal stalémenls are authorised for i55ue. Our responsibilities and the responsibilllles of the Trustees with respocl lo going concern are described in the relevgnt se¢tions of this port. Page 5
BROWNBERRIE EDUCATION TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWNBERRIE EDUCATION TRUST (CONTINUED) other Informatlon The other information Gl#r1508 the informallon Included in the Annual report other than th8 financial 8talament8 and our Auditorfs report Ihereon. The Trustees are rèsponsible for the other Infomialion contained within the Annual report. Our opinion on the financial 81alemanls does not cover tho other inforrnation and, except lo the extent otherwise explicitly slated in our report, we do not express any fom1 Ot a8suranc8 conclusion Ihereon. OUT r&spon5ibilrty is lo read the other informalign and, In doing so, consider whglher th8 olh8r information Is mal8ri81ty incon818lenl with th& financl81 slalemenls or our knowledge obl8ln8d In the course of th6 audit, or olherwi8e appears lo bg materially misslaled. If w8 idenllfy such mal&rial inconsislen¢ie8 or apparent m81erial misslalemenis, we are required to d8lermlne whalher this gives rise lo a material misstalemenl in tha linancial 81al8m8nls Ihams81ves. If, bas8d on the work wa have perfomied, we conclude that thare 16 a mglerlal mis8lalement of this olhgr information, we are required lo pOrt that fact. We have nglhing tg report In Ihls règard, Mattors on whl¢h w8 ar• wulred to roport by oxcoptlon We have nothing lo report In re8P8cI of the foll¢)wing maller8 where th8 Charhles IA¢¢oun18 and Rgportsl Regulallon8 2008 requlre5 us lo rèport to you if, In our oplnion.. the Information glven in tha Trusle8s' report IB Incon818tent In any m819ri81 respect wllh the fflnancial 8tat&menls', or the parent Charlly has not kept sufficlent a¢¢ounling record8,' or tha par&nt Ch8rily finandal stalemonls arg not in agreement wrth the accounllng rocords and relurno., or wa have not received all the informallon and 8xplan*ion8 we laquire for OUT audit. Re8pon81bllltle8 of tru¥t¢os AS explalned mor& fully In the TN$t888' re8ponslblllll88 Statement, th? Tru81ee3 gre rosponslble for th6 proparallon of the flnancial slat8menl8 which give a Irug and lalr view, and ft>r such internal Gonlrol 88 the Trustées da18rmine is nece88ary lo enabl8 the preparation of financial $18tem8nls that are fr90 from materfal mlssl8lemenl, whether due lo fraud Dr error. In pTepgring tho fin8nclal 81atemenls, the Tru81ees are Trsponslble for as6e881ng the Group'B and the parent charills ability lo continue a8 a going concem. disclosing, as Bpplicable, mallers r8lal@d lo going ¢onc8rn and using the goinG concem basls of aco)unting unle88 the Tru81ee8 erther intènd to liquldale the Group or the parant charlty or lo cease operation$, or have no reallstic amemalive bul lo do so. Page 6
BROWNBERRiE EDUCATION TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWNBERRIE EDUCATION TRUST {CONTINUEDI Audltorfs responslbllltl8s for tho audlt of th8 flnaneial statoment8 We have been appolnted a8 audAor und6r s8cIK)n 151 of the Charities AGI 2011 and report in accordance th the A¢1 and rolevanl regulations madg or having effect thereunder. Our obj8ctiV88 are to obl8in reasonable assurance about whelh8r the financial $latemenl8 a$ a whol& are free from materlal mlsslalèmènl, whethèr due lo fraud or error, and 10 155ue an Auditor's r8POrt that include8 our opinion. Reasonable assurance is a high18vel of as8uranc&, bul Is not a guarantee that an audit conducted in accordance with ISA8 IUKI will aayS det8Ct a malarial mi88lalemenl when exI818. Ml88lalém6nls oan 8ri8& from fraud or error and are con8idered malerlal If, individually or in th6 augregale, they could reasonably be axpact8d lo Influgn¢e tha eoonomi¢ decisions of users taken on the basis of th88e financial 81alemenls. Irrggularflles, including fraud, are in8lanco8 of noTrGomplianc8 with law8 And r8gulallon8. WO design proc8durg8 in line whh our responsiblllll8s, outlined abov8, tr) detect material mi881atemenl8 In re8peGt of irregularfll88, Including fraud. Thg 9Xt8nl lo whiGh our procedures are capable of do18Cting irregularilie8, Including fraud IB detailed below.. Wa oblalned an und6rslandlng of Ih618gal and regulatory framework8 wllhin whlch the Gharity operates. focusing on those laws and regulations that have a direct 8ffecl on the delérminalion ol material aMr)unts an¢J dIlOSure8 in the financial stslemenl8. Th& laws and regulations wg Gonsldered in this context were the Chariti85 Act 2011 and the Ch8rilies SORP IFRS 1021. We assessed the required compllancè wllh these kw$ and regulations as part of our Audit procgdur98 on Ihg related flnanclal 81al8menl Ilem8. Audlllng 8tandard8 Ilmil the rèqulrad audit procedures to Klgnlify nonwcompllantte with thesè laws and re9ulalion$ to enqulry of the Trustees and othér management and In8pecllon of regulatory and logal correspondence, If #ny. W9 idgnlified the greate81 risk of mat6rfal impact on the financial 5tal8m8nls from Irregulari11&8, Including fraud, to be within the overrfd& of controls by managemanl. Our audf( procedur88 to respond to these risks included enquiri68 of management, and Ihg Trusteos about their own identlflcatlon and a$sessmgnl of the ri8k8 of Irr8gul8riti88, sarnple 18sling on the posting of journals, ravlewing accounting eslimal8s for bia8e8 and rèviewlng regulatory correspondenGe, Owing lo the inherent limilats'on8 of an audit. there Is an unavoidablo risk that we may not have detected some material misslalemenls in thè financial $1g1gment¥, even though we have properfy plannèd and performed our audit in accordanc8 with auditing standards. For 8xampl&, th8 further removed non<ompliance with laws and re9ulabons (irregularitiesl is Irom tho events and transactions r8I8d8d in the financlal 81at8ment$, the less likely the Inherently Ilmlled procedures requlrèd by auditing ¥landards would tdenlify it. In add((ion, as with any audtt. there remained a higher risk of non4leteclion of irregularflle8, as thase may invofve collusion, foryery. intentional omissions, misrepresenlalions, Dr the override of inlemal wnlrols. We are not re8pon8lble for pravanling non- compllance and cannot ba expected lo detect non-compliance with all laws and regulations. A further description of our re8ponslbllttle8 for tha audll of the financial 8tal8men18 18 located on tha Financial Reporting Council's webstie at.. rsras onsibllitles. Thls description fOS part of our Audito¢$ report. Page 7
BROWNBERRIE EDUCATION TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BROWNBERRIE EDUCATION TRUST (CONTINUED)
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 its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Crowe U.K. LLP Statutory Auditor F OU rth Floor St James House St James Square Cheltenham GL50 3PR Date: 31 October 2022
Crowe UK LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 8
BROWNBERRIE EDUCATION TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unr¢¥trlctgd funds 2021 Total funds 2021 Total funds 2020 Not• Income from.. Donations and18gaGies Charitable actwilifrs Olh8r trading aclmlles Investménts Oth8r income 621,376 10,000 684.083 4121,375 10,000 684,063 205,440 12,600 70 150 Totsl InGomg 1,216,438 1,216,438 218,260 ExpendSturo on: Ralslng fund$ Charltsble actlville8 626,648 168,969 626.848 168.959 t31,83t Total expendlturo 795,607 795,S07 131.831 movgmgnt In funds 419,931 419,931 86,429 Reconclllatlon of funds: Total funds brought forward Nel movgmgnl In funds 3.317,281 419,931 3,317.281 419,931 3,230,852 86,429 Total funds carrlad forward 3.737,212 3,737,212 3,317,281 Th8 Consolldated Slalemenl of Flnanclal Acllvttle8 Includes all gains and losses reGogni8ed in the year. Thè not¢s on pag95 1310 28 form part of thgse financial gt&temonl8. Page 9
BROWN8ERRIE EDUCATION TRUST CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Notè Flxed assets Tanglble asset8 13 3.281,572 3,286,204 3,281,672 3,286.204 Current ass8t8 stock Debtors Cash al bank and in hAnd 15 16 98,899 39,152 392,856 27,277 630,907 32,21T Credilor8.' amounts falling dua wllhln one year 17 (76,2871 (1,200) Net curr•nt assets 465,640 31,077 Total a88ets10s8 ourront Ilabllltl 3,737,212 3,317,281 Total not 8888ts 3,737.212 3.31 7,281 Charlty fvnd# Unrestriclod fiJnd8 18 3,737,212 3,317,281 TotAI funds 3.737,212 3,317,281 The financial $t8t8m6nl$ were approved and aulhorfsed for18su• by the Trustees and 8lgned on their b¢haW by.. Mr R smaldon Trustee Dal¢'. Jiliol4 The notes on pag68 13 10 28 fonm part of these financial 8tat8ments. Page 10
BROWNBERRIE EDUCATION TRUST CHARtTY BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note Plx8d assets Tanglble assals Investments 13 3,223,522 204,062 3,286,204 14 3A27,584 3,286,204 Cvrr•nt auet¥ Debtors Cash at bank and In hand 16 307,433 27,277 307,433 32.277 Cr8dilor8'. amounts fallino due withln ona ar 17 16,320) {1,200) Not current assots 302,113 31,077 Totsl 4•8el8108¥ ¢urront Ilabllltle# 3,729,697 3,317,281 Total net a888ts 3,729,697 3.317,281 Charlty fund8 Unreslricled fund8 18 3,729,697 3,317,281 Total funds 3.729.697 3,317.281 The flnanclal statements were approved and aulhor18ed for Issua by th& Trustge$ and slgned on their behalf by.. Mr R Smaldon Trustee Dale.. r/i./ The note8 on pages 1310 28 form part of these financial statements. Page 11
BROWNBERRIE EOUCATION TRUST CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Cash flows from operatlng adlvlll8S Net cash us8d In operatlng actlvi118S 475.649 1,071 Cash flow8 from invastlnll aCtlvltl88 Purchasa of tanglble h'xed assets 1110,070} (45.448) Net cash used In Investlng a¢tlvltle8 1110,070) 146,44BI Cash flovi# from flnanclng acllvltlos N8t cash provldod by flnanclng actlvltl08 Change In cash and cash 6qulvalents In th8 yoar Cash and cash equlvalonls al th8 beglnning of th8 y8ar 386,679 144,3771 71.654 27,277 Cash and cash equlvalent8 at tho end ol tho year 392,856 27,27r The nc18B on page$ 13 to 28 fomi part ofthese flnanclal statements Page 12
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 G8n&ral Informatlon Brownberrie Education Tru$l 18 an unincorporated Gharity Ino.. 10566071 r8gister8d In England and Wales. Th6 registered addréss Is 7 8èdford Road, Nunlhorp8, Middlesbrough. TS7 OBY. Accountlng pollclej 2.1 B4¥1¥ of pf•paiatlon of flnanclal statements Th@ financlal statemen18 hava bèan pr8par8d in accordance with the Ch8rili95 SORP IFRS 1021 Accounting and Reporting by Gharilies.. Slalemonl of Recommended Practleg opplicabl8 to charilie preparlng their accounts in accordance with the Financi81 R8PQrting Standard appllcable In tha UK and Republic of Ireland (FRS 102} (effective 1 January 20191, the Financial Rgporting Standard applicable In the UK and Rèpublic of Ireland (FRS 1021 and the Charit188 Ad 2011. Thè flnantial 8lalemen18 have been pr&par8d to giv8 a Irue and falr, vlgw and have departed from th8 Charllies (Accounts and Reports) R&gulallon$ 2006 only lo the ext&nt required lo provide a 'lru& and farrf vléw. Thls dgparture has Invofved following th8 Charille8 SORP IFRS 1021 publi8hgd In October 2019 ralh8r than the AccounlSng and Reporting by Charf(198.' Slaloment of Recommondad Practice effectlve from 1 Aprll 2005 whlth ha$ $lnG¢ been withdrawn. Brownbèrri¢ Educatlon Tiust mee18 the definltlon of a publ1¢ benefft entlty under FRS 102. Assgls and Ilabillti08 are inillally recogn18ed at hislorlcal cost or Ir8nsaGllon value unle88 olherwlse Stated in the relevant accounting poli¢y. The Consolidated 8ts18menl of Inanclal acllville8 {SOFAI and Consolidated b8lan¢e $he8t consolidate th8 financlal slalemgnls of thtr Charfly ond tts 8ubsldiary undertaking. Tho r88u118 01 th8 8ub8idiary are ¢on8olldaled on a line by lin8 b8818. Tho Charity has also taken advantage of th8 6XpIlon available lo a qualI.n9 enllty in FRS 102 from the raqulremenl lo present a Charlty onty Stalornenl of cash flows and cbrtain dlsclo8ur88 8bout the charitvs financial inslmmenls wlthin th8 consolidal&d financial $ts1gm?nts. No separalo SOFA has begn prepared for the Charity alone. 2.2 Golng concern The Trustees aro of the opinion that there 18 SUfflent funding in place lo conllnua activities of the chaiity. Therefore, the a¢nts hgvo bgen prepared on a going concern basis. 2.3 Income l income is recognisod once the Charity has entitlement lo the income. rt 18 probable that the income will be recewed and the amount of income receivable can be measured reliably. Grants are included in the Consolidated Statement of financial aclivi118s on a receble basis. The balance of income recelved for spe¢rfic purposes bul not expended during the period is shown in the ravant funds on the Balance sheet. Where income is received In advance of entill&ment of receipl, ils r8cognilion 18 deferred and included in creditors as deferred income. Where entitlam&nl occurs before incorne is received, the incom8 is accrued. Page13
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting polieles leontlnuedl 2.4 Expendlturo Exp8nditur8 18 recognised onc8 there Is a leg81 or conslrucllve obllgalion to transfer economic banefit lo a third party, it Is probable that a transfer of economic benefits will b8 rèquired in settlement and the amount of th9 obligglion tan be measured reliably. Exp8nditur8 is classlfied by activity. Expenditure on r8i8ing funds includ85 all expanditure incurred by the Group lo raise funds for Its charitabl8 purpose8 and Includes costs of all fundraising aclivlties events and non-charilable trading. Expendrture on charitable acllvllles 15 incurred on diréctty undertaking the aCtNit8 which further the Group's objectives, a8 well 88 any assoclaled support costs. All expenditure18 Indv¥ive of irrecoverable VAT. 2.6 Tanglble flxed ast61# and dgprgclatlon Tangible fixed assets costing £500 or mor8 arè caPall8ed and re¢ognlgèd when future economlc benefits are probable and the ¢o$l or value of Ihg as¥¢l can be measured rellably. Tanglb16 flxad a88els are Initially recognlsed at C08t. After r6cognlllon, undar Ihg cost model, tanglble fflxed assets are mga¥ur8d 81 c0811&88 accumulated depreciation arKI any accumulated imp8irmgnt ltssses. All c081s incurred lo brlng a tangibl8 flxed a$t Into tt8 Intended working ¢ondillon shculd be InGluded in Ihg measuromonl of Gosl. Depreclallonls Gharged 80 a8 to allocate thé co81 of tanglble flxod a$8818 le88 thalr re8idu81 value Over Ihelr estimatad usèful live8. Dopr8clatlon Is prOded on the following ba818'. Freehold propgrty Improvem8nts lo lea8ehol property Fixtures, fitting$ & equipment 2'h slraighl line 10-14% 81raighl line 20% slralghl Slne 2.6 Inv•stm•nts Inve81menls in subsidiarl88 are valued at cost less pr¢vlslon for Impairment. 2.7 stocks Stock8 are valued al the lowei of cost and nel realisable valu8 after making due allowance for obsolete and 81ow4noving 81ocks. Cost inGludes all dlr8Ct costs and an approprialo proportion of flxed and variable ovorhaads. 2.8 D8btor¥ Trade and other debtors are recognised al the s8tt1gmenl arlluunl after any trade dlscount offered. Prepaym?nts are valued al the amount prepaid net of any trade di$counl8 due. Pag8 14
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 AGcountlng pollclfjs Icontlnuodl 2.9 Cash at bank and In hand Cash at bank and In hand includ8s cash and short-tenn highly liquid inva&tsn¢nts with a short malurlty of three months or18ss from the dale of acquisillon or openlng of th8 deposit or 8imilaf gGwunt. 2.10 Llabllitles and provlslons Liabililias are recognlsed when there Is an obllgallon al th8 Balanc8 sheol dale as a rgsult of a pa81 event, it18 probable th91 a tron5fer of economic benefit will be r&quired in Settlement, and the amount of th¢ settlement Gan be eslimaled reliably. Liabilili8s ar8 r6cognl&ed al the amount that thè Charty 8nlicipale6 11 will p8y to 8gllle the debt or the ounl il has reoeived as advanced pay)n8nls for th8 good8 or 8eNlce811 must provide. 2.11 Flnanclal In$tfument¥ rhe Group only ha8 linanclal assets and flnanclgl Ilabllilles of a klnd that qualify a3 basic flnanGlal instruments. Basic fin8nelal Instruments Sm Initially rowgnlsgd al transaolion value and gubsgquently m8asur6d 81 Ih6ir selllem?nt value. 2.12 Opgratlng lea898 Rental8 pald undèr op8rkting leases are charged lo the Con8011dat8d Slatemgnl of flnancial act]vltl68 on 9 31raight-Ilno ba818 ov&r the18ase term. 2.13 Fund accountlng General fund8 are unreslrlcled funds whlch are avallable for u88 al th8 discrellon of Ihg Trustees in furtherance of tha gèneral objo¢lives of thg Group and whlch have not beèn designated for olh&r purpo¥e8. Designated funds compri$8 unreslricled funds that have been sel a81d& by Trusleos for partlcular purpos9$. The aim and u8e of each de8lgnaled fund 18 8et out In th8 notes to th6 financial 81alemenls. Re$lriel8d funds are funds whlch 8re lo be used in accordance with 8pecrfic rastricUon8 Imposèd by donors or which have been raised by th8 Group ftsr particular purposes. The cos18 Of raisi and adniinislering such lunds are charged against the 8pecrfic fund. The alm and use of each re¥lriGled fund is sel out in the notes to th8 financial slaloment5. Page15
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2021 Incomg from donatlons and legacigs Unrestrlct funds 2021 Totsl fund$ 2021 Tol81 funds 2020 Donatiotts Northumbiia EduGation Tru81 Donations Grant inccme . The Grace Tru81 45,156 204,219 272,000 45,156 204,219 272,0(w) 440 20&000 521,375 621,375 205,440 In¢om9 from charltab10 aGtbvltlo• Unrostrlcted fund8 2021 Total fund8 2021 rot funds 2020 Ront81 Income 10,000 10,000 12,600 Income from othér tradlng actlvltles Incomo from non ch#rltabl8 tradlng actlvltles Unre8trlctod lunds 2021 Total funds 2021 rolal funds 2020 Trading incom8- Acad Trading Limited 684,063 684,063 Page 16
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Invgstmollt income Unr¢$tri¢tgd funds 2021 Total funds 2021 Tolal funds 202Q Bank inlere6t 70 othor Incomlng resourc•8 UnrostrlGted funds Total funds Tolal funds 2020 Olhgr Income 150 Expendlture on ralslng fund8 CoBts of ra181ng voluntary Incom• Unro8trlcted funds 2021 Totsl funds 2021 Tot fvnds 2020 Trading costs - Acad Tradlng Llmlted 826,S48 626.S48 Page 17
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analy818 of 6xpendltur& on charltablo actlvltles Summary by fund typa Rastrlcted Unfestrlcted lunds funds 2021 2021 Total 2021 Total 2020 Charitable aclNllles 168,9S9 188,959 131.831 10. An8ly$h of oxpondlturn by actlvS1108 Actlvltl undertaken d1r9tY 2021 Support co8t¥ 2021 Total lund8 2021 Total lui?ds 2020 Charflabl8 8cllvRIg8 50,000 118,959 168,969 131,831 Anaty818 of dlr¢ct ¢ost8 Total lunds 2021 Tot81 funds 2020 Actlvltlos 2021 Donallon 50,000 60,000 The donation was made lo OSGUK, Page1e
BRO¥VNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 10. Analysls of 8xp8ndltur8 by a¢tivitles Icontlnuod) Analys18 of support costs Totsl lund8 2021 Totgl funds 2020 Dèpre¢wlion Premlse8 costs Prof8ssional charges Goveman¢e ¢o$ls 85,803 12,597 14,233 6,526 96,801 33,830 1,200 118,959 131,831 stoff costs ar6 nll. Tho 8rownborrio Educatlon Tru8t18 run wholly by volunteers, 11. Audltorf8 remuneratlon 2021 2Q20 Fges payablè to the Chgrlty's auditor for the audit 8arvic88 Fee8 payable lo the Charivs audllor In re$p9¢1 of.. Non audll 8èrvlce8 8,000 1260 12. Tru¥tO08' remuneratlon and frxpenseg Durfng the year, no Trustee8 recaivèd any remun8ralion or other beneflt8 (2020- £NIL). Dudng the year ended 31 December 2021, no TTuslee eypensos have been incurred (2t720- £NIL). Page19
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 13. Tanglble flxod a$spt$ Group Improvoments to leasehold property Fixturè8. fittings & equlpment Freohold proporty Total Cost Al l January 2021 Additions 3,683,706 186,222 33,889 3,849,928 110,070 78.181 At 31 December 2021 3,683,706 200,111 78,181 3,969,998 Dèpre¢latlon At 1 January 2021 Charg¢ for th6 year 458,846 69.674 104,878 28,041 663,724 114.702 26,98Y Al 31 Decombèr 2021 618,020 132,919 26,987 678,428 Not book value Al 31 Docembor 2021 3,186,186 e7,192 49,194 3,281,572 Al 31 D8cemb8r2020 3,224,860 61,344 3,286,204 Thg additions and d8preclalKJn charge for the year inolude balance8 transferred in lo the Tru81 from ACAD Tradlng Ltd. Pag8 20
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 13. Tanglbl• flxed assets {contlnuod} Gharlty Improvements to easehold property Frgehold proporty Total Cost Al 1 January 2021 Additions 3,683,706 166,222 22,921 3,W&,928 22.921 Al 31 December 2021 3,683,706 189,143 3,872,849 Doprgclatlon At 1 January 2021 Chorga lor tha year 458,846 69,674 104,878 26,929 663,724 8S,603 Al 31 Decemb812021 S18,620 130,807 fj48,327 Not book value Al 31 December 2021 3,166,186 68,336 3,223,522 Al 31 D8c8mber2020 3,224,8fj0 61,344 3,288,204 Page21
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Fixed asset Invèstments Inve8tmgnts In subsldlary companies Charity Cost or valuatlon Transfer in of Acad TradSng Limltgd Inve81menl on Acad Trading Llmlled 204,059 Al 31 D6c6mb8r 2021 204,062 Prln¢lpal ¥ubsldlarlg5 The followlng wa8 8 wholly tswned 8ubsldiary undertaklng ol the CharY from 31 JU 2021. The 8ubsldlary transferred to Brownberrio Education Tru8t from Northumbrla Educallon Trust. Thg rosulls of the 8ub&idiary have be8n eon801idated into the Brownberrie Educallon Trust from tha date of the Iran5fgr. Namo Company Reglstergd offlco or prlnclpal Prln¢lpal actlvlty number place of buslngss AGad Tradlng Llmtted 08316305 Mill House, Troy Road, Horsforth, Sale of retall goods Leeds, LS18 STN The nanCIal regultB of the sub8ldiary for the S month pericKJ were., Nam• Incomo Expendltur8 Pr0fltllLoI I Surplusl (Dgficit) for the 5 month perlod Net as90t8 Acad Trading Limited 684.063 676,548 7,614 211,574 Page 22
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Stock8 Group 2021 Group 2020 stock 98,899 16. Dobtor• Group 2021 Group 2020 Charlty 2021 Charity 2020 Duèwlthln ono yaar Tr8d8 debtors Other debtor8 Pmpaymén18 and accrued Income 34,487 4,661 39,152 5,000 17. Crodltor8.' Amounts falllng duo wlthln ono y•ar Group 2Q21 Group 2020 Charlty 2021 Charily 2020 Trade creditor$ Other taxation and swial se¢urily Olher credllors A¢uuals and d8ferrad Incoma 47,639 3,178 13,390 11,160 320 7,200 S,OlXI 76,267 1,200 5,320 1,2t)O Pagè 23
BROIAWBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 18. Statement of fund8 Statemenl of funds . currnnt year Balance at 31 Decgmbor 2021 Balanc8 at I January 2021 Incom8 Expondlture Unrostrlctsd funds Daslgnated funds De8lgn8led Fund 3,224,860 3,224.860 Gengr41 funds General Funds 92h21 1,216,438 1796,5071 612,362 Total Unr8Strlcted fund8 3,317,281 1,215,438 1796.5071 3,737,212 Page 24
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JI DECEMBER 2021 18. Statom8nt of funds (contlnuedl statement of funds - prlor year B8lanc8 at 31 Dgcembgr 2020 8al&nc& al l January 2020 Trnnsfe in/oul Income Exponditurg Unr88trlctèd fund8 O•slgnat8d fund8 0081gnateiJ Fund8 . all funds 3,055, 867 (73,055) 242,048 3,224,860 General funds Gengrgl Funds- all fund8 151,045 18,260 (58, 776) (18, 108) 92,421 Total Unrgstrlctod fund8 3,206,912 18.260 (131,831) 223,940 3,317,281 Rè*trletgd funds Re8lrlcted Fund8- all funds 23,940 200,000 (223,940) Total of funds 3,230,852 218,260 (131,831) 3,317,281 19. Summary offund8 8ummary of funds- curront yr Balance at 31 Dècimbor 2021 Balance at 1 January 2021 Incomè Expenditurg Dèsignated funds General funds 3.224.860 92h21 3,224,860 512,352 t,216N38 {795,5071 3,317,281 1,215,438 1795,507> 3.737,212 Page 25
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 19. SummAry of funds {continuèdl Summary of funds - prlor ye•r 881ance al 31 D8¢&mb&r 2020 Balance al l Jgiiuary 2020 TnSfer8 Inlout Income Expgrtdilu Deslgnated fund8 General funds Restricted funds 3,055,867 151,045 23,940 (73,055) (58. 776) 242,048 (18, 108) (223,949) 5,224,860 92,421 78,260 200,000 3.230,852 218,260 1131,831J 3,3t7,281 20. Analysls of ngt a¥Sgts botwoon funds Analys1$ of ngt a888ts botwo8n fund8 . current year Unro8trlctad fLind$ 2021 Total funds 2021 Tangible fixed as601$ Currgnt as8818 Creditors due wlthin one year 3,281,572 530,907 (75,267) 3,281.672 630,907 {76,2671 Total 3,737,212 3,737,212 Anafysls of net a3¥ets betwgen lunds- prlor year Unfftstricled funds 2020 Total furKIs 2020 Tangible fixed assets Current a8sets Creditors due wllhln one year 3,286,204 32,27T (1,200) 3,286,204 32,277 (1,200) Total 3,317,281 3,317,281 Pag8 28
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 21. Reconclllatlon of net movèmènt in fund¥ to not cash Ilow from operatlng activities Group 2021 Gnwp 2020 N81 income for the year la8 par Slalemenl of Finan¢ial Activities) 419,931 86,429 Adjustments for: Depreciation charg88 Ilncreas6lldecre88e In $tock$ Increase In d8btors Increaselldecreasel In credllor8 114,702 198.8991 34,1621 74,087 96,801 18,391 (3,950) (196,6(XlJ Net G4¥h piovldod by op8ratlng actlvltles 476,649 1,071 22. Analy818 ofca8h and •qulvèl•nt# Group 2021 Gmiip 2020 Cash 81 bank and in hand 392,868 27,277 Total cash and cash equlvalents 392,856 27,277 23. AnAlyBl$ of Ghanga8 In n•t dgbt At31 l)Kember 2021 January 2021 Cash flows Cash at bank and in hand 27.277 365,579 392,8S6 Page 27
BROWNBERRIE EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 24. Operating lea&0 comm5tmgnts Al 31 December 2021 the Group and th8 Charity had commilmenl$ to makè futuré minimum lèase paym8nl8 under non-cancellable op6raling leases as follows., Group 2021 Group 2020 Charfty 2021 Ch8rity 2020 Not later than 1 year Later than 1 year and not lal8r than 5 years 12,800 7,350 12,600 19,950 12,600 7,360 12.600 19,950 19,960 32,550 19,950 32,550 26. Relatad party tran$actlonJ Other than Iran8acllcn8 with the ¥ubsldlary Company, the Charlly ha8 not entered Into any relalod party transaction durlng the year. nor arg there any outstanding balanGeB ¢)wlng befv4een rèlated parties and the Chadty at 31 Dgc8mb8r 2021. Pag8 28