Annual Report and Accounts
for the year ended 31st March 2022
Eve Brook
Scholarship Fund (Registered Charity Number 1074725)
Contents
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3 Legal and Administrative Details
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4 Trustees Report
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9 Financial Statements
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10 Notes to the Accounts
1.0 Legal and Administrative Details
1.1 The Trust was set up on 3[rd] March 1998 and established by deed on 26[th] October 1998, it is registered with the Charity Commission under the registration number 1074725.
1.2 The Trustees who served during the year were:
David Edgar David Stringfellow Alastair Gibbons Philip Smith David Blower Deborah Shaw
1.3 The address for correspondence is: David Edgar 261 Mary Street Balsall Heath Birmingham B12 9RW 1.4 The address for donations is: David Blower 48 Clarence Road Moseley Birmingham B23 9UH Cheques should be made payable to “Eve Brook Scholarship Fund” 1.5 The charities bankers are: The Co-Operative Bank plc PO Box 82 118-120 Colmore Row Birmingham B3 3BA 1.6 The charities accountants are: Carl Ford & Associates 8 Bridge Street Tamworth B78 1DT
1.7 The charities auditors are:
The Charity does not require an audit for 2021/22
2.0 Trustees Report for the Year Ended 31st March 2022
2.1 Introduction
The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2019. The financial statements have been prepared in accordance with the accounting policies set out in the notes thereto and comply with the charity’s trust deed and applicable law.
2.2 Constitution
The Trust was created on 3 March 1998 and established by a declaration of trust dated 26 October 1998. The Trust was registered with the Charity Commission on 18 March 1999 with the registration number 1074725. The Charity does not have any relationship with other organisations or charities with which it co-operates in pursuit of its charitable objectives.
2.3 Organisation
The Trustees who served during the year are set out on page 3 of this report. The body of Trustees shall consist of five persons being David Edgar, one ex-officio Trustee, and nominated Trustee and two others. The ex-officio Trustee shall be the Director or an appointee of Birmingham Children’s Trust. The nominated Trustee shall be appointed by Moseley and Kings Heath Labour Party. The two other Trustees shall be appointed for their expertise.
2.4 Grant Making Policy
The objectives of the Trust are to provide financial assistance for young people who are, or have been, in the care of the authority, who want to go on to higher education, particularly in the arts. The Fund distributes money through four schemes: Scholarships to cover fees for college courses; bursaries to meet ongoing expenses; one-off grants for special equipment and materials; and free places on short courses to help young people discover talents that may lead them into higher education. Applications, supported by a responsible person, are invited form young people who have been looked after by Birmingham City Council. The applications are assessed for eligibility and grants are awarded where they meet the objectives and criteria of the Trust.
2.5 Financial Review and Investment Policy
Income for the period amounted to £28,923 Expenditure for the period amounted to £40,496 The deficit for the year amounted to £9,783
The Trust Deed requires that the Trustees shall hold the capital and income of the Trust. To apply the income, and all or such part or parts of the capital, at such time or times and in such manner as the Trustees may, in their discretion, think fit towards the advancement of education, by enabling young people from foster and residential homes administered by Birmingham City Council Directorate for People, who might otherwise be deterred to gain a higher education particularly but not exclusively those seeking to take courses for which grants are discretionary (especially those in performing arts). The Trustees have the power to invest Trust money in the purchase of, or an interest in the security of, such stocks, funds, shares or other investment or property, of whatever nature and wherever situated, as the Trustees, in their absolute discretion, think fit, to the extent that the Trustees shall have the same unrestricted powers of investing and transporting investments, as if they were beneficially entitled to the Trust Fund
All investment is subject to the Trustee Act 2000
2.6 Review of Activities
During the year the Trust made donations to 30 individuals during 2021/22 totalling £30,956, up from 17 individuals in 2020/21.
A planned deficit of £9,883 was produced during the year 2021/22, this was a deliberate policy instigated by the Trust’s Board of Trustees.
2.7 Statement of Trustees Responsibilities
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice – GAAP)
David Blower
Approved by the Trustees and signed on their behalf by:
3.0 Financial Statements for Year Ended 31st March 2022
3.1
Statement of Income for Year Ended 31[st] March 2022
| Statement of Income for Year Ended 31stMarch 2022 | ||
|---|---|---|
| 2022/21 | 2021/20 | |
| Unrestricted | Unrestricted | |
| Funds | Funds | |
| £ | £ | |
Income |
||
| Donations | 28,923 | 30,294 |
| Gift Aid | ||
| Interest Income | 9.39 | 66 |
| Investment Income | 4.18 | 41 |
| Trading & Events Income | 1,776 | 1,234 |
| Total Income | 30,713 | 31,635 |
| Less Cost | ||
| Direct Charitable Expenditure | 38,799 | 40,856 |
| Administrative Expenditure | 198 | 1,330 |
| Trading Expenditure | 1,498 | 1,692 |
| Total Cost | 40,496 | 43,878 |
| Surplus / (Deficit) | -9,783 | -12,243 |
| Reconciliation of Movement in Funds | ||
|---|---|---|
| Balance of funds brought forward 1st April |
55,208 | 67,451 |
Total funds to carry forward 31st March |
45,425 | 55,208 |
3.2 Balance Sheet as at 31[st] March 2022
| 31st March 2022 | 31st March 2021 | |
|---|---|---|
| £ | £ | |
| Assets | ||
| Bank | ||
| Business Select | 30,076 | 30,066 |
| Community Directplus | 2,702 | 12,494 |
| Total Bank | 32,777 | 42,560 |
| Current Assets | ||
| Accounts Receivable | 2,648 | 2,648 |
| Gift Aid Receivable | 0 | 0 |
| Total Current Assets | 2,648 | 2,648 |
| Fixed Assets | ||
| Long Term Investment | 10,000 | 10,000 |
| Total Fixed Assets | 10,000 | 10,000 |
| Total Assets | 45,425 | 55,208 |
| Liabilities | ||
| Current Liabilities | ||
| Accounts Payable | 0 | 0 |
| Suspense | 0 | 0 |
| Total Current Liabilities | 0 | 0 |
| Total Liabilities | 0 | 0 |
| Net Assets | 45,425 | 55,208 |
| Equity | ||
| Current Year Funds | -9,783 | -12,243 |
| Retained Funds | 55,208 | 67,451 |
| Total Funds | 45,425 | 55,208 |
Trustee Agreement
3.3
The financial statements are approved by the trustees and signed on their behalf by:
Trustee:
Date:. 21[st] November 2022
4.0 Notes to the Accounts
4.1 Note 1 – Principal Accounting Policy
- (a) Accounting Convention
The financial statements have been prepared under the historical cost convention as modified by the inclusion of the investments at market value, in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2007) and within the provisions of the Charities Act 1993. In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice " Accounting and Reporting by Charities" (SORP 2005). The trustees have made use of the concession available for smaller charities within the SORP and have chosen to use resource classifications appropriate to the charities circumstances and activities.
- (b) Investment Income
Investment income is accounted for on an accruals basis.
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(c) Resources Expended Expenditure is included on an accruals basis.
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(d) Fund Accounting Details and the nature of each fund are set below.
Unrestricted Funds comprise those funds which the Trustees are free to use in accordance with the charitable objectives
Independent examiner’s report to the charity trustees of Eve Brook Scholarship Fund.
I report on the accounts of the Trust for the year ended March 2022.
Respective responsibilities of charity trustees and examiner
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act 2022.
It is my responsibility to:
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examine the accounts under section 65 of the Charities Act
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Follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act
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State whether particular matters have come to my attention.
Basis of independent examiner’s report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission and Charities Act.
My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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That accounting records were not kept in accordance with section 63 of the Charities Act
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of the Charities Act
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That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner’s statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission, I have found no matters that require drawing to your attention.
Name: Carl Ford Address: 8 Bridge Street, Tamworth, B78 1DT Date: 29[th] October 2022