REGISTERED CHARITY NUMBER: 1081979
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2021
for
THE J & M BRITTON CHARITABLE TRUST
Mitchell Glanville (Bristol) Limited The Garden Suite 23 Westfield Park Redland Bristol BS6 6LT
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 1 of 11
THE J & M BRITTON CHARITABLE TRUST
Contents of the Financial Statements FOR THE YEAR ENDED 5 April 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 2 of 11
THE J & M BRITTON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 5 April 2021
The trustees present their report with the financial statements of the charity for the year ended 5 April 2021. 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The purpose of the charity is to make donations out of income or capital to charities and to individuals for educational purposes and for the relief of poverty.
The emphasis is on the Bristol region.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and setting its grantmaking policies.
Grantmaking
The following grants were paid out during the year
| Grantmaking The following grants were paid out during the year |
||
|---|---|---|
| 2021 | 2020 | |
| Grants paid to institutions of £1,000 or more: | ||
| A Band of Brothers | 4,000 | |
| Alabare Gloucestershire Homes for Veterans | 2,500 | |
| Badminton School | 1,000 | |
| Bristol Motorneurone Disease Care Centre | 2,000 | |
| Bristol Music Trust | 20,000 | 145,000 |
| BuildAid | 2,000 | |
| Cancer Research UK | 5,000 | |
| Carers UK | 5,000 | |
| Caring in Bristol | 5,000 | |
| Changing Tunes | 5,000 | |
| Children's Hospice South West | 2,500 | |
| Cia0 Foundation | 3,000 | |
| CLIC Sargent | 8,000 | |
| Clifton College | 4,000 | 4,000 |
| Colston Girls School | 2,000 | |
| Creative Youth Network | 2,000 | |
| Eastside Community Trust | 1,500 | |
| Feeding Bristol | 10,000 | |
| G11 Community Hub | 2,000 | |
| IT Schools Africa | 2,000 | 2,000 |
| Kinergy | 1,250 | |
| NACOA | 5,000 | |
| Next Link | 5,000 | |
| Penny Brohn Cancer Care | 2,000 | |
| Quartet Community Fund | 20,000 | |
| Refugee Rights | 3,000 | |
| Royal West of England Academy | 2,000 | |
| SENSE | 1,800 | |
| Sixty One | 2,500 | |
| St Peters Hospice | 10,000 | |
| Teenage Cancer Care | 4,000 | 1,500 |
| The Harbour | 2,000 | |
| The Matthew Tree Project | 5,000 | |
| The Nelson Trust | 2,500 | |
| The Park Centre | 5,500 | |
| Trinity College | 150,000 | |
| Grants of £1,000 or less: | ||
| For charitable and educational purposes | 29,950 | 34,700 |
| Total | 288,950 | 238,250 |
1
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 3 of 11
THE J & M BRITTON CHARITABLE TRUST
Report of the Trustees
FOR THE YEAR ENDED 5 April 2021
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In accordance with the objectives of the charity, donations are made initially out of the investment income arising during the year and to the extent the Trustees consider appropriate, thereafter out of capital. Donations in the year totalled £288,950 (2020: £238,250).
Grantmaking
The trustees meet regularly to consider what grants they will make and to review any feedback they have received. Nominations for grants are elicited by formal and informal means.
Reserves policy
The trustees have established the levels of reserves as far as possible to meet the ongoing funding requirements of the charity.
The long term income of the charity is derived from the portfolio of investments held by the charity. During the year the charity's reserves increased by £524,287 to £3,610,146. The trustees are satisfied that the portfolio of investments will continue to secure sufficient income to meet its charitable objectives.
Investment policy
The investment policy for the charity is to generate a reasonable level of income at average or above average market yields and to maintain the real value of the capital invested if possible.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is governed by its governing document, a deed of trust dated 25 April 1960, and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1081979
Principal address Whitecroft 3A Merlin Haven Wotton under Edge Gloucestershire GL12 3BA
Trustees A F Bernays A H Bernays Lady Merrison C Duckworth R O Bernays R E J Bernays (appointed 25.1.22) Independent Examiner Mitchell Glanville (Bristol) Limited The Garden Suite 23 Westfield Park Redland Bristol BS6 6LT 2022-01-29 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................................. R E J Bernays - Trustee
2
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 4 of 11
Independent Examiner's Report to the Trustees of The J & M Britton Charitable Trust
Independent examiner's report to the trustees of The J & M Britton Charitable Trust
I report to the charity trustees on my examination of the accounts of The J & M Britton Charitable Trust (the Trust) for the year ended 5 April 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
P J Clarke Mitchell Glanville (Bristol) Limited The Garden Suite 23 Westfield Park Redland Bristol BS6 6LT 2022-01-29 Date: .............................................
3
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 5 of 11
THE J & M BRITTON CHARITABLE TRUST
Statement of Financial Activities
FOR THE YEAR ENDED 5 April 2021
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Charitable activities Grants payable Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 57,888 - 306,432 1,244 307,676 774,076 524,288 3,085,858 3,610,146 |
2020 Total funds £ 91,580 1,333 258,468 3,624 263,425 (448,235) (620,080) 3,705,938 3,085,858 |
|---|---|---|
The notes form part of these financial statements
4
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 6 of 11
THE J & M BRITTON CHARITABLE TRUST
Balance Sheet
5 April 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Total | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 6 | 3,448,279 | 2,811,313 |
| CURRENT ASSETS | |||
| Debtors | 7 | - | 4,226 |
| Cash at bank | 166,114 | 277,761 | |
| 166,114 | 281,987 | ||
| CREDITORS | |||
| Amounts falling due within one year | 8 | (4,247) | (7,442) |
| NET CURRENT ASSETS | 161,867 | 274,545 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | TOTAL ASSETS LESS CURRENT LIABILITIES | 3,610,146 | 3,085,858 |
| NET ASSETS | 3,610,146 | 3,085,858 | |
| FUNDS | |||
| Unrestricted funds | 3,610,146 | 3,085,858 | |
| TOTAL FUNDS | 3,610,146 | 3,085,858 | |
| 2022-01-29 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R E J Bernays - Trustee
The notes form part of these financial statements
5
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 7 of 11
THE J & M BRITTON CHARITABLE TRUST
Notes to the Financial Statements
FOR THE YEAR ENDED 5 April 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
As a charity, The J & M Britton Charitable Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chargeable objects.
The trustees are able to reclaim tax that has been suffered at source on their investment income.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Dividend income Interest income |
2021 £ 54,942 2,946 57,888 |
2020 £ 91,286 294 |
|---|---|---|
| 91,580 |
6
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 8 of 11
THE J & M BRITTON CHARITABLE TRUST
Notes to the Financial Statements - continued FOR THE YEAR ENDED 5 April 2021
3. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Support costs | - | 1,333 |
4. TRUSTEES' REMUNERATION AND BENEFITS
No remuneration is drawn by the Trustees
Trustees' expenses
During the year administration expenses of £500 (2020: £500) were incurred by R E J Bernays.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
6.
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Raising funds Charitable activities Grants payable Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2020 Additions Disposals Revaluations At 5 April 2021 NET BOOK VALUE At 5 April 2021 At 5 April 2020 |
Unrestricted fund £ 91,580 1,333 258,468 3,624 263,425 (448,235) (620,080) 3,705,938 3,085,858 Listed investments £ 2,811,313 451,210 (516,942) 702,698 3,448,279 3,448,279 2,811,313 |
|---|---|
7
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 9 of 11
THE J & M BRITTON CHARITABLE TRUST
Notes to the Financial Statements - continued FOR THE YEAR ENDED 5 April 2021
6. FIXED ASSET INVESTMENTS - continued
There were no investment assets outside the UK.
Cost or valuation at 5 April 2021 is represented by:
| Valuation in 2021 Cost 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Tax 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2021 £ - 2021 £ 4,247 |
Listed investments £ 702,698 2,745,581 3,448,279 2020 £ 4,226 2020 £ 7,442 |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2021.
8
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 10 of 11
THE J & M BRITTON CHARITABLE TRUST
| Detailed Statement of Financial Activities FOR THE YEAR ENDED 5 April 2021 INCOME AND ENDOWMENTS Investment income Dividend income Interest income Total incoming resources EXPENDITURE Charitable activities Investment manager's fees Grants to individuals Support costs Finance Bank charges Other Irrecoverable income tax Governance costs Auditors' remuneration Postage and stationery Sundries Accountancy and legal fees Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net (expenditure)/income |
2021 £ 54,942 2,946 57,888 57,888 17,482 288,950 306,432 73 (61) - 500 - 732 1,232 307,676 (249,788) 71,378 (178,410) |
2020 £ 91,286 294 91,580 91,580 20,218 238,250 258,468 60 1,333 426 500 238 2,400 3,564 263,425 (171,845) 190,321 18,476 |
|---|---|---|
This page does not form part of the statutory financial statements
9
Document Ref: NHXVX-GXJPO-HLHYT-XDWZ5
Page 11 of 11
Signature Certificate
Reference number: NHXVX-GXJPO-HLHYT-XDWZ5
~~a~~ Signer ~~Se a ee oe~~ Timestamp ~~a ee ee~~ Signature ~~ee ee ee ee ae~~
MGB Accountants
Email: accounts@mgb.email
Shared via link
Sent: Signed:
29 Jan 2022 21:53:40 UTC 29 Jan 2022 21:53:40 UTC
IP address: 213.129.74.45 Location: Hampstead, United Kingdom
Document completed by all parties on: 29 Jan 2022 21:53:40 UTC
Page 1 of 1
Signed with PandaDoc
PandaDoc is a document workflow and certified eSignature solution trusted by 30,000+ companies worldwide.