Charity number: 1103709 THE MARCIA AND ANDREW BROWN CHARITABLE TRUST UNADUITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
CONTENTS Page Reference and admlnlstratlv• detalls of the Charfty, Its Trustees and advlsers Trustees. report Independent examlner's report statement of flnanclal actlvltl•s Balance Sheet Notes to the flnanclal statements 7-13
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2024 Trustees M Brown, Trustee S Walton, Trustee (appointed 9 November 2023) K Taylor, Trustee {appointed 1 December 2024) G Goodman. Trustee (appointed 1 December 2024) A Brown MBE. Trustee (deceased 20 July 2023) Prlnclpal offlce Gresham House 5-7 St Paul's Street Leeds LS12JG Independent Examlner Susan Seaman, BA FCA, CIOT Gresham House 5-7 St Pauls Street Leeds LS12JG Page I
TRUSTEES. REPORT FOR THE YEAR ENDED 31 MAY 2024 The Trustees present their annual report logether with the fi'nancial statements of the Charity for the year 1 June 2023 to 31 May 2024. Objectlves and actlvltles . Pollcles and oblectlves The charity's objects are to make donations and grants for the benefit of such exclusively charitable objects and purposes or such registered charities for their work in any part of the world as the trustees may in their discretion think fit. In setting objectives and planning for ackn'vities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefi't, including the guidance 'Public benefit: running a charity IPB2)'. Achlevements and performance a. Maln achlevements of the Charlty The trustees made donations totalling £182,655 during the year to various other charities (2023- £282,430). Appeals are considered as they are received and the trustees will make donations throughout the year. There was an increase in funds for the year of £113,774 (2023 decrease of £68,359) which has been transferred to the unrestricled fund. Flnanclal revlew a. Golng con¢•rn After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate reSoUS to continue in operational existence for the foreseeable future. For this reason, they continue 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. Structure, governance and management a. Constitution The Marcia and Andrew Brown Charitable Trust is a registered charity, number 1103709, the governing instrument being the trust deed dated 10 February 2004, b. Methods of appolntmont or electlon of Trustees The trustees, who served throughout Ihe year, are summarised on page 1. Appointment of new trustees is at the discretion of the existing trustees. New trustees are briefed about the charity's objectives and how they have been achieved in the past. Page 2
TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MAY 2024 Statement of Trustees. responslbllltles The Trustees are responsible for preparing the Trustees, report and the financi81 statements in accordance with applicable law 8nd Ljnited Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then appty them consistently., observe the methods and principles of the Charities SORP (FRS 102),. make judgments and accounting estimates that are ieasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial stalements; prepare the financial siatements on the goin9 concern basis unless it is inappropriate to presume that the Charty will continue in business, The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 27 February 2025 and signed on thelr behalf by.. M Brown Page 3
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2024 Independent Examiner's Report to the Trustees of {'the Charlty,) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 May 2024. Responsibilities and Basls of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance wlth the requirements of the Charities Act 2011 ('the 2011 Act,). I report in spect 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 the applicable Directions given by the Charity Commlsslon under section 145{5)(b) of the 2011 Act. Indep8nd•nt ExamIne6 Statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body Ilsted in section 145 of the 2011 Act. I conh'rm that l am qualified to undertake the examination because l am a member of (enter body here), which is one of the listed bodies. Your attention is drawn to the fact that the Charity has prepared the accounts in accordance wlth 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) in preference to ihe Accounting and Reporting by Chanties.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair vlew in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015, I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material fespect,. accounting records were not kept in respect of the Charity as required by sectlon 130 of the 2011 Act., or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements conceming 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 lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charily's Trustees, as a body. in accordance with Part 4 of the Charities {Accounts and Reports) Regulats'ons 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extenl permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Dated.. 27 February 2025 Susan Seaman BA FCA CIOT Page 4
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 200.000 104,104 200,000 104,104 200,000 20,088 Total Income 304.104 304,104 220,088 Expenditure on: Charitable activities 190.330 190,330 288,447 Total oxpendlture 190,330 190,330 288,447 Net movemont In funds 113,774 113,774 (68,359) Reconciliatlon of fund8: Total funds brought foThvard Net movement in funds 2,469,270 113,774 2,469,270 113,774 2,537,629 (88,359) Total funds carrled forward 2,583,044 2,583,044 2,469,270 The Statement of Financlal Actlvities includes all galns and losses recognised in the year. The notes on pages 7 to 13 form part of these flnancial statements, Page 5
8ALANCE SHEET AS AT 31 MAY 2024 2024 2023 Note Current assets Cash at bank and in hand 2,588,444 2,474,670 2,588,444 2,474,670 Creditors- amounts falling due within one year 10 {5,400) (5,400) Net currant assets 2.583,044 2,469,270 Total a85Ots 1888 currènt liabilitiès 2.583,044 2,469,270 Total net a88•t8 2,583,044 2,469,270 Charlty fund8 Restrlcted funds Unrestricted funds 11 11 2,583,044 2,469,270 Total fund8 2,583,044 2,469,270 The financial statements were approved and authorlsed for issue by the Trustees and signed on their behalf by: M Brown Date.. 27 February 2025 The notes on pages 7 to 13 form part of these financial ststements. Page 6
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 General Informatlon The Marcia and Andrew Brown Charitable Trust is a registered charity, number 1103709, the governing instrument being the trust deed dated 10 February 2004. The registered office of the charity is Gresham House, 5-7 St Paula Street. Leeds. LS12JG Accountlng pollcles 2.1 8a818 of preparatlon of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended practi applicable to charits'es preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf vlew and have departed from the Charities {Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP {FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Marcia and Andrew Brown Charitable 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 otheNrfise stated in the relevant accounting policy. 2.2 Income All income is included in the statement of financial activities when received by the charity. Income from donation5 or grants is recognised when received 2.3 Expènditure Expenditure is recognised when paid. Expenditure includes any VAT which cannot be fully recovered. and is classfied under headings of the statement of financial activities to which it relates. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated SUPF)Ort costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is condits'onal, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have nol been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.4 Interest roceivable Interest on funds held on deposil is included when receivable and the amount can be measured reliably by the Charity- this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 7
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Accountlng policles (contlnued) 2.5 Llabllftles and provS8lons Liabililies are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.6 Financlal Instruments The Charity only has financlal assets and fi'nanclal liabilitles of a klnd that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently rneasuied at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.7 Fund accountlng General funds are unrestricted 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. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlons and legacles Unrestricted funds 2024 Total funds 2024 Donations 200,000 200,000 Unrestricted funds 2023 Total funds 2023 Donations 200,000 200.000 Page 8
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Investment Income Unrestricted funds 2024 Total funds 2024 Bank Interest received 104,104 104.104 Unrestricted funds 2023 Total funds 2023 Bank interest received 20,088 20,088 Analysls ol grants Grants to Institutions 2024 Total funds 2024 Charitable grants to various charities 182,655 182,655 Grants to Institutions 2023 Total funds 2023 Charitable grants to various charities 282,430 282,430 Page 9
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Analysls of expendlture on charltable activitles Summary by fund type Unrestricted funds 2024 Total 2024 Charitable grants to various charities Support costs 182,655 7,675 182,655 7,675 190,330 190,330 unreStrted funds 2023 Total 2023 Charitable grants to various Charities Support costs 282,430 6.017 282,430 6.017 288,447 288,447 Analys18 of expendlture by actlvlti88 Grant funding of activities 2024 Support costs 2024 Total funds 2024 Charitable grants to various charities Support costs 182,655 182,655 7,675 7,675 182,655 7,675 190,330 Page 10
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Analysls of expendlture by actlvltle8 (contlnuad) Grant funding of activities Support costs 2023 Total funds 2023 2023 Charitable grants to various charities Support costs 282,430 282,430 6.017 6,017 282,430 6,017 288,447 Independent examlnor's rnmun6ration 2024 2023 Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual account8 Fees payable to the Charity's independeni examiner in respect of.. All other services not included above 4,980 5,400 600 Trustees, remuneratlon and expenses During the year. no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 May 2024, no Trustee expenses have been incurred (2023- £NIL). 10. Creditors: Amounts falllng due wlthln one year 2024 2023 Accruals and deferred income 5,400 5,400 Page 11
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 11. Stalement of funds Statement of funds - current year Balance at 1 June 2023 Balan at Income Expenditure 31 May 2024 Unrestrlcted funds General Funds 2,469.270 304,104 (190,330) 2,583,044 statement of funds - prlor year Balance al 1 June 2022 Balance at Income Expenditure 31 May 2023 Unrestrlcted funds General Funds 2,537,629 220.088 (288,447) 2,469,270 12. Analysls of net assets between fund• Analysls of net assets between fund8 . current perlod Unrestricted funds 2024 Total funds 2024 Current assets Creditors due within one year 2,588.444 {5,400) 2,588,444 (5,400) Total 2,583.044 2.583,044 Analy81s of net assets between funds - prlor porlod Unrestricted funds 2023 Total funds 2023 Current assets Creditors due within one year 2,474,670 (5,400) 2,474,670 (5,400) Total 2,469,270 2,469,270 Page 12
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 13. Related party transactlons The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing behveen related parties and the Charity at 31 May 2024. Page 13