Charity registration number: 1056607
Brownberrie Education Trust
Trustees' Report and Financial Statements
for the year ended 31st December 2025
mca Banbury Ltd The American Barns Banbury Road Lighthorne Warwick Warwickshire CV35 0AE
Brownberrie Education Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Auditors' Report | 6 to 9 |
| Consolidated Statement of Financial Activities | 10 to 11 |
| Consolidated Balance Sheet | 12 |
| Balance Sheet | 13 |
| Consolidated Statement of Cash Flows | 14 |
| Notes to the Financial Statements | 15 to 30 |
Brownberrie Education Trust
Reference and Administrative Details Chairman Mr Neil Christie Trustees Mr Tom Hulbert Mr Chris Anderson Mr E K Johnston Mr Alfred Soulsby Charity Registration Number 1056607 Principal Office 14 Breary Lane East Bramhope Leeds LS16 9ET Auditor mca Banbury Ltd The American Barns Banbury Road Lighthorne Warwick Warwickshire CV35 0AE Bankers Virgin Money - Clydesdale/Yorkshire Bank 30 St Vincent Place, Glasgow G1 2HL
Page 1
Brownberrie Education Trust
Trustees' Report
The Trustees present their report with the financial statements of the charity for the year ended 31st December 2025. The Trustees have adopted the provisions of 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 (FRS102) (effective 1 January 2019).
Objectives and activities
Objects and aims
The charitable objects of the charity are the advancement of the education of children and young people aged five to eighteen in particular by assistance to their parents to enable such children to be taught otherwise than at school as defined in the Education Acts and any other charitable purpose for the benefit of the worldwide Christian fellowship known as the Plymouth Brethren Christian Church.
In furtherance of its objects, the Trust provides premises under formal lease for an independent school based in York (the satellite campus in Springwell, Newcastle having been closed in 2023), which has been run by OneSchool Global UK (OSGUK).
The charity also provides grant funding and other financial support to OSGUK at the discretion of the Trustees in order to enable OSGUK to provide a well-balanced education at primary and secondary levels, for children and young people whose parents appreciate the Christian ethos.
Success is measured in terms of the provision of appropriate facilities to OSGUK whilst minimising expenditure. This in turn, frees up funds for raising standards of education for all concerned and for the improvement of facilities for pupils and staff alike.
The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and have regard to it when reviewing their aims and objectives, and in planning their future activities. In particular they consider how planned activities will contribute to the educational aims and objectives they have set.
Volunteers are an integral part of the community ethos and values of the charity and there is a strong and willing group of volunteers who assist and support the charity throughout the year.
The trading activities of the charity’s trading subsidiary Acad Trading Limited (Registered Company 08316305), which operates a chain of convenience stores, are undertaken by volunteers.
Objectives, strategies and activities
Throughout the year the charity has continued to provide educational premises in support of the educational activities of OSGUK.
The charity has a wholly owned subsidiary company, Acad Trading Limited which undertakes trading activities. All profits chargeable to corporation tax are gifted to the charity in support of the charitable activities of the charity.
Page 2
Brownberrie Education Trust
Trustees' Report
Achievements and performance
Financial review
The charity is supported and financed principally by profits from its trading subsidiary Acad Trading Ltd plus other ad hoc donations and those raised by fundraising events and grants from the Grace Trust. The Trustees believe that the charity's funds are sufficient to mitigate any short to medium term risk of reduced funding.
The charity's fundraising events principally operate within the Brethren community and professional fundraisers are not used. Neither the charity nor any person acting on behalf of the charity was subject to an undertaking to be bound by any voluntary scheme for regulating fund-raising, or voluntary standard for fund-raising in respect of activities on behalf of the trust.
In the year ended 31st December 2025 the charity reported a net deficit of £132,672 (2024 surplus of £2,161,094). The group reported a net deficit of £377 (2024 surplus of £2,108,312).
At the year end the charity had net current liabilities of £205,174 (2024 net current liabilities of £193,101). The group had net current liabilities of £87,002 (2024 net current liabilities of £128,780).
The charity's policy is to maintain minimum free reserves at a level which equates to six months' unrestricted expenditure.
At the year end 2025 the unrestricted reserves of the charity were £5,891,533 (31st December 2024 £5,843,049).
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, it continues 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.
Plans for future periods
Aims and key objectives for future periods
The Trading subsidiary company (Acad Trading Ltd) stopped trading in the year and is planning to close down in 2026.
Brownberrie Education Trust is also intending to sell the building to One School Global UK at market value but this is not planned to be done within the next financial year.
Page 3
Brownberrie Education Trust
Trustees' Report
Structure, governance and management
Nature of governing document
Brownberrie Education Trust is constituted by a Deed of Trust dated 31 May 1996, amended 8 Oct 1997 and is registered with the Charity Commission for England.
The Trustees who served during the year and since the year end are set out on page 1. None of the Trustees, nor any person connected with them, received any remuneration from the charity in the year ended 31st December 2025 (year ended 31st December 2024 £nil).
The power to appoint Trustees is vested in the existing Trustees subject to the charity deed requirement. Trustees are selected according to their own specialism in a particular field and are expected to pursue that specialism. New Trustees are instructed in the need to completely adhere to the ethos and values of the charity.
New Trustees are appointed at charity meetings and training is given by the outgoing trustee being replaced, along with support from fellow Trustees.
Principal Risks
The Trustees have examined the major strategic, business and operational risks that the charity faces. The Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
The principal risks to the charity are:
-
risk of damage to the property held by the charity (although the property holds property insurance);
-
risk of closure or relocation of the schooling by OneSchool Global UK (considered unlikely). There were no serious incidents relating to the charity over the year to report.
Page 4
Brownberrie Education Trust
Trustees' Report
Statement of trustees' responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and the group and of the incoming resources and application of resources of the charitable group for that period. In preparing these financial statements, the trustees are required to:
• select suitable accounting policies and then apply them consistently;
• observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity deed. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
23 Jun 2026
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by: Chris Anderson
......................................... Mr Chris Anderson Trustee
Page 5
Brownberrie Education Trust
Independent Auditor's Report to the Trustees of Brownberrie Education Trust
Opinion
We have audited the financial statements of Brownberrie Education Trust (the 'charitable parent trust') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice) .Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the group's and parent charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the CCharities Act 2011harites Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK) ) and ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Page 6
Brownberrie Education Trust
Independent Auditor's Report to the Trustees of Brownberrie Education Trust
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Charities Act 2011
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees' report is inconsistent in any material respect with the financial
statements; or
-
the parent charity financial statements are not in agreement with the accounting records and returns; or
-
the parent charity has not kept sufficient accounting records; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of trustees' responsibilities (set out on page 5), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Page 7
Brownberrie Education Trust
Independent Auditor's Report to the Trustees of Brownberrie Education Trust
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with the applicable laws and regulations.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-
Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
-
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls. we:controls, we:
-
Performed analytical procedures to identify any unusual or unexpected relationships;
-
Tested journal entries to identify unusual transactions;
-
Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
-
Investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-
Agreeing financial statement disclosures to underlying supporting documentation.
-
Enquiring of management as to actual and potential litigation and claims:claims.
There are inherent limitations in our audit procedures described above. The more removed those laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
As part of an audit in accordance with ISAsISAs (UK), we exercise(UK) , we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity's internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
-
Conclude on the appropriateness of the trustees' use of the going concern basis of accountingaccounting and, based onand based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the charity to cease to continue as a going concern.
Page 8
Brownberrie Education Trust
Independent Auditor's Report to the Members of Brownberrie Education Trust
-
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
-
We define materiality as the magnitude of misstatement in the Financial Statements that makes it probable that the economic decisions of a reasonably knowledgeable person would be changed or influenced. We use materiality both in planning and in the scope of our audit work and in evaluating the results of our work.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings includingfindings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charitable parent company'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 group'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 charitable parent company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
Martin Cox (Senior Statutory Auditor) For and on behalf of mca Banbury Ltd, Statutory Auditor
The American Barns Banbury Road Lighthorne Warwick Warwickshire CV35 0AE 24 Jun 2026
Date:.............................
Page 9
Brownberrie Education Trust
Consolidated Statement of Financial Activities for the Year Ended 31 December 2025 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 6 Other income Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 6 Other income Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net income Transfers between funds Net movement in funds 5 |
Unrestricted funds £ 105,218 60,000 2,309 878,143 |
Restricted funds £ - - - - |
Restricted funds £ - - - - |
Total 2025 £ 105,218 60,000 2,309 878,143 |
Total 2025 £ 105,218 60,000 2,309 878,143 |
|---|---|---|---|---|---|
| 1,045,670 | - - |
1,045,670 1,045,670 |
|||
| (849,908) (179,382) (1,029,290) 16,380 164,398 180,778 5,831,294 6,012,072 Unrestricted funds £ 251,081 60,000 17,061 1,437,374 1,765,516 (1,287,458) (307,197) (1,594,655) 170,861 1,511,310 1,682,171 |
(16,758) - (16,758) (16,758) (164,398) (181,156) 426,141 244,985 Restricted funds £ 1,985,860 - - - 1,985,860 - (48,409) (48,409) 1,937,451 (1,511,310) 426,141 |
(849,908) (196,140) |
|||
| (1,046,048) | |||||
| (378) - |
|||||
| (378) 6,257,435 |
|||||
| 6,257,057 | |||||
| Total 2024 £ 2,236,941 60,000 17,061 1,437,374 |
|||||
| 3,751,376 | |||||
| (1,287,458) (355,606) |
|||||
| (1,643,064) | |||||
| 2,108,312 - |
|||||
| 2,108,312 |
The notes on pages 15 to 30 form an integral part of these financial statements. Page 10
Brownberrie Education Trust
Consolidated Statement of Financial Activities for the Year Ended 31 December 2025 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 4,149,123 5,831,294 |
Restricted funds £ - 426,141 |
Total 2024 £ 4,149,123 |
|---|---|---|---|
| 6,257,435 |
All of the group's activities derive from continuing operations during the above two periods.
Acad Trading Ltd, the group’s trading subsidiary, ceased trading during the year; however, as the subsidiary does not constitute a major line of business under FRS 102 Section 5, the cessation is not treated as a discontinued operation.
The funds breakdown for 2024 is shown in note 18.
The notes on pages 15 to 30 form an integral part of these financial statements. Page 11
Brownberrie Education Trust
Consolidated Balance Sheet as at 31 December 2025
| Note Fixed assets Tangible assets 12 Current assets Stocks 14 Debtors 15 Cash at bank and in hand 16 Creditors: Amounts falling due within one year 17 Net current liabilities Net assets Funds of the group: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 18 |
2025 £ 6,344,060 - 1,711 250,657 252,368 (339,371) (87,003) 6,257,057 244,985 6,012,072 6,257,057 |
2024 £ 6,386,215 117,373 40,572 336,090 |
|---|---|---|
| 494,035 (622,816) |
||
| (128,781) | ||
| 6,257,435 | ||
| 426,141 5,831,294 |
||
| 6,257,435 |
23 Jun 2026
The financial statements on pages 10 to 30 were approved by the trustees and authorised for issue on .................... and signed on their behalf by:
Chris Anderson
......................................... Mr Chris Anderson Trustee
The notes on pages 15 to 30 form an integral part of these financial statements. Page 12
Brownberrie Education Trust
Balance Sheet as at 31 December 2025
| Note Fixed assets Tangible assets 12 Investments Current assets Cash at bank and in hand 16 Creditors: Amounts falling due within one year 17 Net current liabilities Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 18 |
2025 £ 6,341,689 3 6,341,692 120,797 (325,971) (205,174) 6,136,518 244,985 5,891,533 6,136,518 |
2024 £ 6,258,229 204,062 |
|---|---|---|
| 6,462,291 | ||
| 228,008 (421,109) |
||
| (193,101) | ||
| 6,269,190 | ||
| 426,141 5,843,049 |
||
| 6,269,190 |
23 Jun 2026 The financial statements on pages 10 to 30 were approved by the trustees and authorised for issue on .................... and signed on their behalf by:
Chris Anderson
......................................... Mr Chris Anderson Trustee
The notes on pages 15 to 30 form an integral part of these financial statements. Page 13
Brownberrie Education Trust
Consolidated Statement of Cash Flows for the Year Ended 31 December 2025
| Note Cash flows from operating activities Net cash (expenditure)/income Adjustments to cash flows from non-cash items Depreciation 7 Investment income 6 Working capital adjustments Decrease/(increase) in stocks 14 Decrease in debtors 15 Decrease in creditors 17 Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 6 Purchase of tangible fixed assets 12 Sale of tangible fixed assets Net cash flows from investing activities Cash flows from financing activities Repayment of loans and borrowings 17 Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December |
2025 £ (378) 101,971 (2,309) 99,284 117,373 38,861 (28,445) 227,073 2,309 (164,398) 104,583 (57,506) (255,000) (85,433) 336,090 250,657 |
2024 £ 2,108,312 86,715 (17,061) |
|---|---|---|
| 2,177,966 (19,961) 14,325 (278,799) |
||
| 1,893,531 | ||
| 17,061 (1,530,419) 1,268 |
||
| (1,512,090) (355,000) |
||
| 26,441 309,650 |
||
| 336,091 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 15 to 30 form an integral part of these financial statements. Page 14
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
1 Charity status
Brownberrie Education Trust is an unincorporated charity (no: 1056607) registered in England and Wales. The registered address is 14 Breary Lane East, Bramhope, Leeds, LS16 9ET.
2 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRSFRS 102)) (issued102) ) (issued in October 2019) - (CharitiesCharities SORP (FRS 102)),SORP (FRS 102) ) , the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the CharitCharities Act 2011es Act 2011.
Basis of preparation
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Brownberrie Education Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Basis of consolidation
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Charity has also taken advantage of the exemption available to a qualifying entity in FRS 102 from the requirement to present a Charity only statement of cash flows and certain disclosures about the Charity's financial instruments within the consolidated financial statements.
No separate SOFA has been prepared for the Charity alone.
Going concern
The trustees consider that there are no material uncertainties about the group's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the group.
Page 15
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
Income and endowments
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate, Receipt of a legacy mustestate. Receipt be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Consolidated statement of financial activities on a receivable basis. Thebasis, The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group’s objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Page 16
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
Tangible fixed assets
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation and amortisation
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Assets costing less than £500 are written off to SoFA in the year of purchase.
Asset class Depreciation method and rate Freehold property 2% Straight Line Plant & Machinery 20% Straight Line Leasehold property 10% Straight Line
Fixed asset investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ’Gains/(Losses) on investments’ in the Consolidated statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
Stock
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Trade debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Fund structure
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes, The costs of raising and administeringpurposes. The such 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.
Investment income, gains and losses are allocated to the appropriate fund.
Page 17
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the group becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
3 Income from donations and legacies
| Gifts and Donations Total for 2025 Total for 2024 |
Unrestricted funds General £ 105,218 105,218 251,081 |
Restricted funds £ - - 1,985,860 |
Total funds £ 105,218 |
|---|---|---|---|
| 105,218 | |||
| 2,236,941 |
- 4 Income from charitable activities
| Rental Income Total for 2025 Total for 2024 |
Unrestricted funds General £ 60,000 60,000 60,000 |
Total funds £ 60,000 |
|---|---|---|
| 60,000 | ||
| 60,000 |
Page 18
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
5 Income from other trading activities
| Trading Income - Acad Trading Limited Total for 2025 Trading Income - Acad Trading Limited Total for 2024 |
Unrestricted funds General £ 878,143 878,143 Unrestricted funds General £ 1,437,374 1,437,374 |
Total funds £ 878,143 |
|---|---|---|
| 878,143 | ||
| Total 2024 £ 1,437,374 |
||
| 1,437,374 |
Page 19
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
6 Investment income
| Bank Interest Total for 2025 Total for 2024 |
Unrestricted funds General £ 2,309 2,309 17,061 |
Total funds £ 2,309 |
|---|---|---|
| 2,309 | ||
| 17,061 |
7 Expenditure on raising funds
a) Costs of trading activities
| Note 9 Trading Costs - Acad Trading Limited Total for 2025 Total for 2024 8 Expenditure on charitable activities Charitable activities Total for 2025 Total for 2024 |
Note Unrestricted funds General £ 179,382 307,197 |
Unrestricted funds General £ 849,908 849,908 1,287,458 Restricted funds £ 16,758 48,409 |
Total funds £ 849,908 |
|---|---|---|---|
| 849,908 | |||
| 1,287,458 | |||
| Total funds £ 196,140 |
|||
| 355,606 |
Page 20
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
9 Analysis of support costs
Support costs allocated to charitable activities
| Charitable Activities Charitable Activities Charitable Activities |
Governance costs £ Finance costs £ Administration costs £ 8,013 33 397 Governance costs £ Administration costs £ Premises costs including depreciation £ 16,228 8,823 107,857 |
Premises costs including depreciation £ 87,697 Other support costs £ 222,698 |
Premises costs including depreciation £ 87,697 Other support costs £ 222,698 |
Other support costs £ 100,000 |
|---|---|---|---|---|
| Other support costs £ 222,698 |
Total 2025 £ 196,140 |
|||
| Total 2024 £ 355,606 |
Other support costs are donations made to OSG.
Staff costs are nil. Brownberrie Education Trust is run entirely by volunteers.
Page 21
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the group during the year.
No trustees have received any reimbursed expenses from the charity during the year.
11 Auditors' remuneration
| 11 Auditors' remuneration | ||
|---|---|---|
| Fees to auditors The auditing of accounts of the charity Audit-related fee of the subsidiary All other non-audit services |
2025 £ 2,000 2,250 3,250 7,500 |
2024 £ 2,000 2,750 2,000 |
| 6,750 |
Page 22
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
12 Tangible fixed assets
Group
| Cost At 1 January 2025 Additions Disposals At 31 December 2025 Depreciation At 1 January 2025 Charge for the year Eliminated on disposals At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 Charity Cost At 1 January 2025 Additions At 31 December 2025 Depreciation At 1 January 2025 Charge for the year At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 |
Land and buildings £ 7,354,129 164,398 (128,416) 7,390,111 984,471 93,382 (31,802) 1,046,051 6,344,060 6,369,658 |
Furniture and equipment £ 90,863 - (82,784) 8,079 74,305 8,589 (74,815) 8,079 - 16,558 Land and buildings £ 7,222,718 164,398 7,387,116 964,489 80,938 1,045,427 6,341,689 6,258,229 |
Total £ 7,444,992 164,398 (211,200) |
|---|---|---|---|
| 7,398,190 | |||
| 1,058,776 101,971 (106,617) |
|||
| 1,054,130 | |||
| 6,344,060 | |||
| 6,386,216 | |||
| Total £ 7,222,718 164,398 |
|||
| 7,387,116 | |||
| 964,489 80,938 |
|||
| 1,045,427 | |||
| 6,341,689 | |||
| 6,258,229 |
Page 23
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
13 Fixed asset investments
Charity
Shares in group undertakings and participating interests
| Shares in group undertakings and participating interests | ||
|---|---|---|
| Cost At 1 January 2025 Impairment At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 |
Subsidiary undertakings £ 204,062 (204,059) 3 3 204,062 |
Total £ 204,062 (204,059) |
| 3 | ||
| 3 | ||
| 204,062 |
The trustees have reviewed the carrying value of the charity’s investment in its subsidiary undertaking at the year end. Acad Trading Limited ceased trading during the year and is expected to be closed down in 2026. As a result, the trustees consider that the carrying value of the investment is impaired and an impairment provision has been recognised to reduce the carrying value down to the share capital amount.
Details of undertakings
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
| Undertaking Country of incorporation Holding Proportion of voting rights and shares held Principal activity 2025 2024 Subsidiary undertakings Acad Trading Limited United Kingdom 100% 100% Sale of retails goods 14 Stock Group Charity 2025 £ 2024 £ 2025 £ Stocks - 117,373 - 15 Debtors retail Group Charity 2025 £ 2024 £ 2025 £ 2024 £ - ~~117,373~~ ~~-~~ ~~-~~ Ordinary |
Undertaking Country of incorporation Holding Proportion of voting rights and shares held Principal activity 2025 2024 Subsidiary undertakings Acad Trading Limited United Kingdom 100% 100% Sale of retails goods 14 Stock Group Charity 2025 £ 2024 £ 2025 £ Stocks - 117,373 - 15 Debtors retail Group Charity 2025 £ 2024 £ 2025 £ 2024 £ - ~~117,373~~ ~~-~~ ~~-~~ Ordinary |
Undertaking Country of incorporation Holding Proportion of voting rights and shares held Principal activity 2025 2024 Subsidiary undertakings Acad Trading Limited United Kingdom 100% 100% Sale of retails goods 14 Stock Group Charity 2025 £ 2024 £ 2025 £ Stocks - 117,373 - 15 Debtors retail Group Charity 2025 £ 2024 £ 2025 £ 2024 £ - ~~117,373~~ ~~-~~ ~~-~~ Ordinary |
Undertaking Country of incorporation Holding Proportion of voting rights and shares held Principal activity 2025 2024 Subsidiary undertakings Acad Trading Limited United Kingdom 100% 100% Sale of retails goods 14 Stock Group Charity 2025 £ 2024 £ 2025 £ Stocks - 117,373 - 15 Debtors retail Group Charity 2025 £ 2024 £ 2025 £ 2024 £ - ~~117,373~~ ~~-~~ ~~-~~ Ordinary |
Undertaking Country of incorporation Holding Proportion of voting rights and shares held Principal activity 2025 2024 Subsidiary undertakings Acad Trading Limited United Kingdom 100% 100% Sale of retails goods 14 Stock Group Charity 2025 £ 2024 £ 2025 £ Stocks - 117,373 - 15 Debtors retail Group Charity 2025 £ 2024 £ 2025 £ 2024 £ - ~~117,373~~ ~~-~~ ~~-~~ Ordinary |
|---|---|---|---|---|
| Group Charity 2025 £ 2024 £ 2025 £ - 117,373 - Group Charity 2025 £ 2024 £ 2025 £ 2024 £ - ~~117,373~~ ~~-~~ ~~-~~ |
||||
Page 24
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
| Notes to the Financial | Statements for the Year Ended 31 December 2025 | Statements for the Year Ended 31 December 2025 |
|---|---|---|
| Trade debtors Prepayments VAT 16 Cash and cash equivalents Cash at bank |
Group Charity 2025 £ 2024 £ 2025 £ 203 39,305 - 1,000 1,267 - 508 - - 1,711 40,572 - Group Charity 2025 £ 2024 £ 2025 £ 2024 £ 203 39,305 - - 1,000 1,267 - - 508 - - - 1,711 ~~40,572~~ ~~-~~ ~~-~~ |
|
| Group 2025 £ 2024 £ 250,657 336,090 |
Charity 2025 £ 2024 £ 120,797 228,008 |
Page 25
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
17 Creditors: amounts falling due within one year
| Bank loans Trade creditors Other taxation and social security VAT Other creditors Accruals |
Group 2025 £ 2024 £ 313,000 568,000 21,059 165,219 725 - - (193,594) - 29,069 4,587 54,122 339,371 622,816 |
Charity 2025 £ 2024 £ 313,000 568,000 8,895 47,434 - - 1,076 (200,906) - - 3,000 6,581 325,971 421,109 |
Charity 2025 £ 2024 £ 313,000 568,000 8,895 47,434 - - 1,076 (200,906) - - 3,000 6,581 325,971 421,109 |
|---|---|---|---|
| 421,109 |
Page 26
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
18 Funds
Group
| Unrestricted funds General Designated Total unrestricted funds Restricted funds Total funds Unrestricted funds General Designated Total unrestricted funds Restricted funds Total funds |
Balance at 1 January 2025 £ 2,606,434 3,224,860 5,831,294 426,141 6,257,435 Balance at 1 January 2024 £ 924,263 3,224,860 4,149,123 - 4,149,123 |
Incoming resources £ 1,045,670 - 1,045,670 - 1,045,670 Incoming resources £ 1,765,516 - 1,765,516 1,985,860 3,751,376 |
Resources expended £ (1,029,290) - (1,029,290) (16,758) (1,046,048) Resources expended £ (1,594,655) - (1,594,655) (48,409) (1,643,064) |
Transfers £ 164,398 - 164,398 (164,398) - Transfers £ 1,511,310 - 1,511,310 (1,511,310) - |
Balance at 31 December 2025 £ 2,787,212 3,224,860 |
|---|---|---|---|---|---|
| 6,012,072 244,985 |
|||||
| 6,257,057 | |||||
| Balance at 31 December 2024 £ 2,606,434 3,224,860 |
|||||
| 5,831,294 426,141 |
|||||
| 6,257,435 |
Charity
Page 27
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
| Unrestricted funds General Designated Total unrestricted funds Restricted funds Total funds Unrestricted funds General Designated Total unrestricted funds Restricted funds Total funds |
Balance at 1 January 2025 £ 2,618,189 3,224,860 5,843,049 426,141 6,269,190 Balance at 1 January 2024 £ 883,236 3,224,860 4,108,096 - 4,108,096 |
Incoming resources £ 277,527 - 277,527 - 277,527 Incoming resources £ 530,840 - 530,840 1,985,860 2,516,700 |
Resources expended £ (393,441) - (393,441) (16,758) (410,199) Resources expended £ (307,197) - (307,197) (48,409) (355,606) |
Transfers £ 164,398 - 164,398 (164,398) - Transfers £ 1,511,310 - 1,511,310 (1,511,310) - |
Balance at 31 December 2025 £ 2,666,673 3,224,860 |
|---|---|---|---|---|---|
| 5,891,533 244,985 |
|||||
| 6,136,518 | |||||
| Balance at 31 December 2024 £ 2,618,189 3,224,860 |
|||||
| 5,843,049 426,141 |
|||||
| 6,269,190 |
Page 28
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
19 Analysis of net assets between funds
Group
| Group | ||
|---|---|---|
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 6,344,060 252,368 (339,371) 6,257,057 Unrestricted funds General £ 6,386,215 494,035 (622,816) 6,257,434 |
Total funds at 31 December 2025 £ 6,344,060 252,368 (339,371) |
| 6,257,057 | ||
| Total funds at 31 December 2024 £ 6,386,215 494,035 (622,816) |
||
| 6,257,434 |
Page 29
Brownberrie Education Trust
Notes to the Financial Statements for the Year Ended 31 December 2025
Charity
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ 6,341,689 3 120,797 (325,971) 6,136,518 Unrestricted funds General £ 6,258,229 204,062 228,008 (421,109) 6,269,190 |
Total funds at 31 December 2025 £ 6,341,689 3 120,797 (325,971) |
|---|---|---|
| 6,136,518 | ||
| Total funds at 31 December 2024 £ 6,258,229 204,062 228,008 (421,109) |
||
| 6,269,190 |
20 Related party transactions
Charity
As stated in Note 13, Acad Trading Limited is a wholly owned subsidiary undertaking of the Charity. £100,000 (2024 : £192,698) was received by the Charity from the subsidiary under gift aid.
Page 30
Issuer
Issuer mca Business Ltd Document generated Fri, 19th Jun 2026 16:48:02 BST Document fingerprint d52fbd2f1be950565993ad6d598380f7
Parties involved with this document
Document processed
Party + Fingerprint
Tue, 23rd Jun 2026 15:26:53 BST Wed, 24th Jun 2026 9:59:48 BST
Mr Chris Anderson - Signer (9373dfdbb581cf1aace47524af031490) Martin Cox - Signer (960b54a2b030232a28529419c4fa8684)
Audit history log
Date
Action
Fri, 19th Jun 2026 16:48:02 BST Envelope generated with fingerprint 4c485c8523c18db0cea3def3588b8bf3 (18.133.63.166) Fri, 19th Jun 2026 16:48:02 BST Document generated with fingerprint d52fbd2f1be950565993ad6d598380f7. (18.133.63.166) Fri, 19th Jun 2026 16:48:02 BST Document generated with fingerprint 1ad81582bf1ecbe9761e001579f042fd. (18.133.63.166) Fri, 19th Jun 2026 16:48:02 BST Document generated with fingerprint f58eb6a851af664e1963530160c13260. (18.133.63.166) Fri, 19th Jun 2026 16:48:02 BST Document generated with fingerprint abe1eee3098e378cb9320a51aa1f3f59. (18.133.63.166) Fri, 19th Jun 2026 16:48:02 BST Document generated with fingerprint 6912b979aac317e28b565ab906598208. (18.133.63.166) Fri, 19th Jun 2026 16:48:02 BST Mr Chris Anderson has been assigned to this envelope. (18.133.63.166) Fri, 19th Jun 2026 16:48:02 BST Martin Cox has been assigned to this envelope. (18.133.63.166) Fri, 19th Jun 2026 16:48:22 BST Envelope generated Fri, 19th Jun 2026 16:48:22 BST Sent the envelope to Mr Chris Anderson for signing Fri, 19th Jun 2026 16:48:22 BST Document emailed to party email Tue, 23rd Jun 2026 14:56:57 BST Mr Chris Anderson viewed the envelope (62.255.38.116) Tue, 23rd Jun 2026 15:07:59 BST Mr Chris Anderson viewed the envelope (62.255.38.116) Tue, 23rd Jun 2026 15:12:22 BST Mr Chris Anderson viewed the envelope (157.231.72.18) Tue, 23rd Jun 2026 15:26:53 BST Mr Chris Anderson signed the envelope (62.255.38.116) Tue, 23rd Jun 2026 15:26:53 BST Sent the envelope to Martin Cox for signing (62.255.38.116)
Tue, 23rd Jun 2026 15:26:54 BST Wed, 24th Jun 2026 9:58:33 BST Wed, 24th Jun 2026 9:58:49 BST Wed, 24th Jun 2026 9:59:48 BST Wed, 24th Jun 2026 9:59:48 BST Wed, 24th Jun 2026 9:59:48 BST Wed, 24th Jun 2026 9:59:48 BST Wed, 24th Jun 2026 9:59:48 BST
Document emailed to party email Martin Cox viewed the envelope (94.125.132.161) Martin Cox viewed the envelope (172.186.8.69) Martin Cox signed the envelope (94.125.132.161) This envelope has been signed by all parties (94.125.132.161) Signed document confirmation emailed to party email (94.125.132.161) Signed document confirmation emailed to party email (94.125.132.161) Signed document confirmation emails have been sent to all parties. Document URL: https://api.signable.app/shareable/envelope?t=6ae7ff77-1513-41fd-bd64-15 07e1f68c63 (94.125.132.161)