**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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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.