Charity Registration No. 1094956 ## **THE BROOK PARTNERS CHARITABLE TRUST** TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 **THE BROOK PARTNERS CHARITABLE TRUST** ## **CONTENTS** ||**PAGES**| |---|---| |Reference and administrative details of the charity and trustees|1| |Trustees’ report|2 to 3| |Independent examiner’s report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 to 10| **THE BROOK PARTNERS CHARITABLE TRUST** REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 **Charity registration number** 1094956 **Trustees** Mr W N Hugill Ms T J Bernerd Mr E Bernerd **Registered office** 50 Hans Crescent 6[th] Floor London SW1X 0NA **Independent examiner** Mrs H Rumsey, FCA Ensors Accountants LLP Connexions 159 Princes Street Ipswich Suffolk IP1 1QJ **Bankers** The Bank of East Asia Limited London Branch 75 Shaftesbury Avenue London W1D 5BB Page 1 **THE BROOK PARTNERS CHARITABLE TRUST** ## TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2022 The trustees present their report and accounts for the year ended 30 June 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and 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). ## **Constitution** The Brook Partners Charitable Trust is a Registered Charity governed by the Trust Deed dated 24 July 2002, Charity Number 1094956. The Charity changed its name from The Brook Charitable Trust to The Brook Partners Charitable Trust on 26 November 2002. ## **Objects** The charity’s objectives are specifically restricted to the following: - To make donations to Charitable Institutions and for Charitable purposes, in any part of the World, at such time and manner at the absolute discretion of the Trustees - To consider that Charities and Charitable purposes associated with research work should be the principal beneficiaries ## **Public Benefit** The Trustees are aware of the Charity Commission’s guidance in relation to delivering public benefit. The Trustees consider that they are fulfilling the requirements to deliver a public benefit. ## **Structure, governance and management** The trustees meet approximately three times during the year. A chairman is appointed by the Trustees to manage the day-to-day operations of the Charity. ## **Review of the Year** The primary objective of the Trust is to make donations to Charitable Institutions and for charitable purposes. In carrying out this function, the Trustees meet 3 times a year and carry out research to concentrate on providing grants to projects or institutions which meet their objectives. This year two grants were awarded. ## **Financial Review of the Period** During the year The Brook Partners Charitable Trust received donations of £165,000 (2021: £Nil) and claimed gift aid of £41,250 (2021: Gift aid claim £10,000 on donation in 2020 of £40,000). Grants were paid to two organisations during the year totalling £164,874 (2021: £Nil). At the year end the Charity had reserves of £47,597 (2021: £9,066). The net surplus in the year amounted to £38,531 )2021: £6,928) Page 2 THE BROOK PARTNERS CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2022 Risk Managem•nt The Trustees have assessed the major risks to which the charity is exFX)sed, in particular, those related to the operats.ons and finances of the Tnjst and are sattsf*d that systerrns are in place to mitigate exposure to the rnaior risks. Appoinlment of Tn hete a vacancy exists for a Tnjstee. the remaining Trustees seek to ap￿int an individual with skills and experien￿ which will be of benefft to the chattty. Investment Policy Under the Trust Deed. the Charity has the wwer to make any investrnent which the Trustees see fit. Reserves Policy and Going Concern The Charity aims to distribute all ils income by way of grants and therefore holds minimal reserves. Any reseNes accurnulated are to be used in fijlure permjds grants as the Trustees see fit. At 30 June 2022, the Charity had reserves of £47.59712021: £9,IMI for fvture grant making. All reserves held are UnreStr￿ed. T￿￿te•S responsibililtes in r•lation to the financlal ststwnents The trustees are responsible for preparing the Tnjstees. Report and the accounts in ac￿rdanCe with appl[￿ble law and United KIng1￿M AL¥X)unting Standards {United ￿ngdoM Generally Accepted A(xounting Practice). The law applThble to charities in England and Wlates requires the Injstees to prepare w)unts for each financial year which gwe a true and fair view of the state of affairs of the charity and of the incoming resources and applKation of resources of the for that year. In preparing these aLt¥)unts, the Irustees are required to: select suitabte accounting tN)licaes and then appty them wnsi%tenty,' observe the tnettKxJs and princÉples in the Charities SORP" make judgements and estimates that are reasonable and prudent stale whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the ￿)UntS. and prepare the acc4JJnts on the going (xjrwn basis unless r( is inappropriale to presume that the chartfy will continue in operatK)n. The trustees are responsible for keeping sUffic￿nt acwunting reu)rds that disclose with reasonable accuracy at any time the financial wsitson of the charity and enable them lo ensure that the accounts comply with the Charitres Act 2011. the Chanty (Accounts and Rew)rtsl Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevenlv)n and deteth.on of fraud and ther irregularilses. This reportwas app by the TrusteÈ on nd sign on ils behalf, by: MrE Bem￿d............. Chairman **THE BROOK PARTNERS CHARITABLE TRUST** INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE BROOK PARTNERS CHARITABLE TRUST FOR THE YEAR ENDED 30 JUNE 2022 I report to the trustees on my examination of the accounts of The Brook Partners Charitable Trust for the year ended 30 June 2022. ## **Responsibilities and basis of report** As the charity’s trustees 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 Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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: - (i) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or - (ii) the accounts do not accord with those records; or - (iii) 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. ……………………………….. Mrs H Rumsey FCA Ensors Accountants LLP Connexions 159 Princes Street Ipswich Suffolk IP1 1QJ Dated:…………………………28th April 2023 Page 4 **THE BROOK PARTNERS CHARITABLE TRUST** ## STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 30 JUNE 2022 |**Note**
**INCOME FROM**
Investments
**2**
Donations
**3**
**TOTAL INCOME**
**EXPENDITURE**
_Expenditure on charitable activities:_
Grants
**4**
Other Expenditure
**5**
**TOTAL EXPENDITURE**
**MOVEMENT IN TOTAL FUNDS FOR**
**THE YEAR – NET INCOME FOR THE**
**YEAR**
_Total funds at 1 July 2021_
**TOTAL FUNDS AT 30 June 2022**|**Total**
**Funds**
**2022**
**£**
1
206,250
206,251
164,874
2,846
167,720
38,531
9,066
47,597|**_Total_**
**_Funds_**
**_2021_**
**_£_**
_2_
_10,000_| |---|---|---| |||_10,002_| |||_-_
_3,074_| |||_3,074_| |||_6,928_
_2,138_| |||_9,066_| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure is unrestricted and derives from continuing activities. Page 5 THE BROOK PARTNERS CHARrrABLE TRUST BALANCE SHEET AS AT JUNE 2022 2021 CURRENT ASSErs Cash at bank Current AcC￿nt 3,248 4.248 io.olxp 1.801 51250 Gift atd debtor 53.051 14.248 UABILMES: creditors falling due within one year 5,454 4182 (5.454) (5.182) NEf ASSEFS 47,597 9.066 TOTAL UNRESTRJCTED FUNDS 47,597 9.066 The accounts were approved by the T1￿$tee$ on Mr E Bemerd Chairman The notes on pages 7 to 10 ft)rm part rfthese ftt7an¢ial statements. Page 6 **THE BROOK PARTNERS CHARITABLE TRUST** NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 ## **1. ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Charities Act 2011 and the Statement of Recommended Practice for Charities [FRS102). The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. The accounts 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 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] rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The charity is a Public Benefit Entity as defined by FRS102. ## **1.2 Fund accounting** Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. ## **1.3 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future as the charity has positive reserves at the year end and future grants will only be committed if further donations are received. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.4 Incoming resources** Incoming resources such as gifts and donations are included in the statement of financial activities when the charity has entitlement to the funds, receipt is probable, and the amount can be measured with sufficient reliability. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation and is shown within donation income. Investment income is included within the accounts when receivable. Page 7 **THE BROOK PARTNERS CHARITABLE TRUST** NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 ## **1.5 Resources expended** Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs relevant to that activity. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. Expenditure on charitable activities includes the costs directly relating to the objectives of the charity and includes the cost of supporting charitable activities and projects. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks and other shortterm liquid investments with original maturities of three months or less. ## **1.7 Creditors** Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. ## **1.8 Financial instruments** The Brook Partners Charitable Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in The Brook Partners Charitable Trust's balance sheet when The Brook Partners Charitable Trust becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Page 8 **THE BROOK PARTNERS CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 ## **Basic financial liabilities** Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## **1.9 Critical accounting estimates and areas of judgement** In the application of The Brook Partners Charitable Trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Page 9 **THE BROOK PARTNERS CHARITABLE TRUST** ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 ## **2. Investment Income** |**3.**
**Donations**
**4.**
**Grants**
**5.**
**Other Expenditure**
Accountancy
Bank Charges
Bank Interest
Donations received
Gift aid receivable
Friends of Chabad Canton
United Synagogue|**2022**
**£**
2,316
90
2,406
**2022**
**£**
1

1
**2022**
**£**
165,000
37,500

202,500
**2022**
**£**
14,874
150,000
164,874|_2021_
_£_
_2_| |---|---|---| |||_2_| |||_2021_
_£_
_-_
_10,000_| |||_10,000_| |||_2021_
_£_
_-_
_-_| |||_-_| |||_2021_
_£_
_3,034_
_40_| |||_3,074_| Included in accountancy is the independent examination fee of £1,822 and tax advisory fee of £494, inclusive of VAT. The charity has no employees (2021: none) and as such has no employees earning more than £60,000 (2021: none). ## **6. Creditors: Amounts falling due within one year** |Accruals|**2022**
**£**
5,014
5,014|_2021_
_£_
_5,182_| |---|---|---| |||_5,182 _| ## **7. Related Party Transactions** During the year no trustee expenses were incurred. No Trustee received, nor waived any emoluments (2021: £nil) The Charity received unconditional donations during the year of £165,000 from Mr E Bernerd (2021: £Nil). Page 10