Charlty r¢gl8tratlon numbey 1111644 Company raglstratlon numbèr 05551999 (England and Walasl THE BREN PROJECT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023 ) Hargreaves & Woods cl1.RJ£REO ACLOUNIANJS & BUSINL55 ADIJISEIi
THE BREN PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M I Shotton Mr B Harringlo Mr D Alkinson Mr R H Mayne Mr R Smllh Mrs Laura Doolèy Mrs Oebra Plper (Appolnted 18 January 20231 IAppolnt8d 19 July 20231 (Appointed 26 April 20231 Charlty number 1111644 Company numb•r 05551999 Prlnclpal addre$8 New Scene Cantra Llmewood Close Off Newton Lane Chèster CH2 2HH Rg9Sstgred offlcg Cholmondeley Housè Dee Hllls Park Chosler Cheshire CH3 SAR Independent gxamlner Jam88 Hargreaves Cholmondeley House Dee Hills Park Chester Cheshire CH3 SAR
THE BREN PROJECT CONTENTS Pago Trusl&gs' report Ind8P8nd9nl examlnerfs report Stalamont ol financi818clivitlO8 Balance sheet Notès to Ihe flnanclal slatem8nts 8-16
THE BREN PROJECT TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruste8s', who are also th6 dlr6ctors for the PL¢rposes of company law present the annual report and Ilnanclal statements for th8 y8ar gnded 31 Decemb8r 2023. The financial ststernenl8 have been prepared in accordance th the 8c¢ounllng polScl6s Set out in note 1 to Ile financlal statements and comply wllh the charltys Memorandum and Artleles of Assoclallon, Ihe Companles Act 2006 and "Actounling and Reporting by Charities.. Statement of Recommended Practice appli¢able to charities preparing their accounts In accordance with the Flnandal Reporiing Standard applicable in the UK and Republic of Ireland IFRS 1021" leff8clive 1 January 20191. Obl8ctlv8# and actlvltles Background of tha Ch8rAy The Bren Proje¢l Is a Chest8r-ba5ed charlty offèring one-to-on8 SUPPOrted work pl8¢erngnts for people wllh learnlng dlsBbilill6s and autism in Cheshlre. We are a registered charily111116441 and a company Ilm118d by gu8ranleg155519991. We were founded by Peter SAckell and Grant Wells in 2005, and project work began In 2007. Our Mis51on St81ement is. lo develop the social. emolional and economic wellbelng of learnlng dlsabl8d and 8ulistic peopl8 through personalls&d supported workpl&c• opporlunilies in partn&r5hlp with our local community. Who W8 Are W8 hav8 9 $18ff team of 6, ¢omprlsed ol a full-llme Charlly Manager, Iwo part.tlme 81ke Proj8Ct Sup9rvisors. two part-llme Proleel Co-Ordin8tor8 and a p&rt-t1rn8 Adminlstralion Asslslant. We also have a Iralned and dedlcated t6am of 5858ional Job Coaches who support beneli¢laries whlle on placemgnt and 10 support volunl86rs who work wilh our beneflciarfes in our 80cial ent8rpri88 cyclè workshop. We are b85ed in Ihe Livel New Scene Youth & Community Hub in Newton, Chester, where we have our offlee and Bren Bikes workshtrp. Wè arg govorned by dedlcaled Truste? group comprisèd of 7 individuals from a wid8 range ol backgrounds, with skllls and exp8rlenca In charity management, project managemont, disability servlces, marketing, oraphlc deslgn, Information technology, quality management, fundr8islng and 8duc8tlon. Our Trustees have experioneè of m8naging organisations In the private and vOlntary s8Ctors and have the commercial awareness to Oversee the charity's 8Ctlvities and future development. Who We Support We work wllh people who havè108rning dls8blllti6s or aulisrn from the age of 14 upw8rd8, wlth no uppgr age Ilmll. Our work includ85 young people who are experiencing the Iransllion from educallon to employment, and th088 disabled adults seen as 'hard-to-reach', 1.0. those oxcluded from m81nslream provlslon and not a¢SSIng vocallonal support elsewh8r6. Our Bespoke Appro8ch 8nd Ethos Wa belleva that avaryonè has th8 human rfght to w(Yk and engage In productlv8 employm8nl. ln 2023, we ConnU& to b8 th8 only organisatlon In Chester and tho surroundlng area that provides the person-centred. fully 5upporl8d sarvico that people ne8d to adequately pr8par8 lor employrnenl. We are very proud of our approach and confidont that thFS is what makes the dlfference io the people that we support. W8 do not offer g6nerlc experiences. Inslgad, we work wllh Indlvlduals to research, identlfy and adapt thair own pla¢8menl, based on th8ir own needs. skllls and aspirations. Our philosophy Is to view the support8d ernploymenl process as a partnershSp between beneliciari88, parentslcarers, schools, buslnesses. voluntary and community organlsalions, thè publlc soclor and other agencies. 811 of whom play thèlr part rnaking lh8 process a succe88.
THE BREN PROJECT TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 PToj8ct Work Slnee our proje¢l dellvery began In September 2(K)7 wo have.. worked with over 350 bgn8fici3ries', managed turnover tolalllng over £l,000,OOO', recelved lundlng from mor8 Ihan 70 funding partners., engaged with more Ihan 160 employer partners In 811 three sectors., fostered a wide rango of project partn8rs in a wlde range ol Industries- receivgd 100Yo poslllve posl-placement feedback Irom b8ng1iciaries and th81r p8rentslcargrs. In sètts'ng Ils oblecllves, tho Trustees have glven carèful consid8ralB)n io tha Chgrfty Commisslon's guidance on public benafit. Achlevements and p8rfomianc• Significanl actlvltles and achve@t$ 8gain$i oblectivgs Kèy Ar•as of Work In 2023 l. Internal placements. eron blke8. Bren Bikes was developad in respon88 10 8 r&cogni8èd n8ed on the port of our bgn8ficlarE8s for prepplacemenl vocatlonal trainlng. The workshop bas establlshed ltsell as a trusted place lor pèopl8 to bring thelr blk88 for servidng or to buy good value, gxpertly recondillongd second hand bikes. Not only does Ihls contribute slgnllicanlly to ralslng the charlty's profll& in th8 local area bul 11 also helps normallse neurodiversity in the workplac8 when the publi¢ sees beneficiaries al work In th8 workshop, performing important and meaningful roles. It contlnuos to thriv8 and the enlhuslasm of both employed staff and volunteers Is a credlt to th&m 811. It rèm8ins key to the opportunllles we can offer our beneficl8rles. The charlty continue5 to benefit from significant numb8r8 of bikes donated by th8 publlc. These are recondltlon8d by staff, volun19ers and beneliclar16s and sold. to enjoy a new lil8. This is an important part of our in¢orn8 81ream. In 2023, we offered 48 benell¢l8ry placernents at Bren Blkgs. wlth 100% of our beneficiarles reporting and demonslr8tlng 8D Improvement In both Ih8lr pracllcal and soft skllls. 2. D•llvary of Extam81 Placements Throughout 2023, we contlnued lo offer our program of bespok8. 8UPPOrted work p18eèm$nl8. We 8rr8nged 17 external work placèmenis in 2023. wllh 10 dlfferent placement provlders acros8 the private, publlc and voluntary 88Ctor5. 97% of our beneficlarles reported and demonslraled an Improvement In thelr pr8Ctlcal and soft skills al the end of thelr placem&nl. 3. Work wlth School$ In 2023. w9 continued to work In partnershlp wllh a numbei of sehools In Chester and thè 8urroundlng 8rea, to provide a program of supportèd work opportuni1185 for s8lecled students who would lind 11 difflcult to engage wlth the convenlK)ll81 opportunilles the schools themselv98 are able to off8r. Our educallon pariner5 In 2023 Included Archer8 Brook, Chrisllelon Hlgh School, Chester Cathollc High School, Upton High School and Mapl& Grove SchooÈ. 4. Fundralslng The charity continued lo use the serv1$ of a speclallst chafltable sector fundralslng consultancy, on an Intermittent basls. This approach freed up the Charlty Manager's tim8 to concentrate on developing our plans lor the launch of second 8wlal enlgrprlse.
THE BREN PROJECT TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 5. Br•n Blk#s- Elltsmgre Port Wè received 6 months grant fundlng from Healthbox CIC to provide refurbished bikes to ragldonts tsf E1168mere Port, whlch has proven tg b8 extremely popular. The grant also Includ8d the provision of a weekly pop up hub. offerlng ba81¢ serving and malntenance of blkes. Overall, Ihl8 parlnershlp hès worked well and there is polènllal of future joint worklng In lh9 year ahgad. 6. Wallbelng Hub We launched our Wellbelng hub In tho summer and Ihls has prov8ll to be extremely successful wllh our benollelari85. Led by our Project Co-ordlnalor, we have sean consistently high nutnb8rs in allendanc8 and some ènwuraging signs of soft skills development and frièndships formed. This h88 been a groat addlllonBI lo offèr to our beneflciaries, provlding a mor8 holi61ic servlce lo our core offar. Small company provl8lon8 Thls report has b8en prepared Sn accordance wllh the provlslons appllcab16 to (x)mpanl88 8ntllled to the small companies exempllon. Flnancl41 revlew Incomg: W8 98n8raled a total or £2t6.012 Incom6 In 2023. Expèndltur8'. Wè h8vÉ d81iv9red our servlces as antlclp8ted, lo budget, taking into account the in-year Changes to Income whlch allowed us lo Increase our budg8t and expenditure accordingly. Our operallng expendSturè for 2023 stands al £192,960. Our balance ol funds carr18d lomard as al 31 December 2023 stands al £304,665. Reserves pollcy A balance or £304,665 is held 88 our reserve funds,all ol wttich Is unrastricled. Thls Is In Iln8 our poll¢y of rnhin18inlng 8t least 6 monlhs runnlng costs at all tlmes In case of issue or withdraw81 from a Major funder. We have a180 designated much of th8 r8$8rvg8 lo a new prol8cI.
THE BREN PROJECT TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Plans for future perlods Dtv•loprnènt plan5 In 2024. Looklng ft)rwkrd to 2024 the Charlly wlll.. Contlnue to approach trusts and foundallons to support our work., Continue to grow and develop Bren Blkes lo provlde opportunllies for beneflcl8ri88 and. 8lrnu118n80usly, as a comm8rcial business lo increase incorne for the charfty., D9V81op our relatSonshSps Wlth schools In the area to provid6 spect81isl placemenis; Endgavour lo conclude current, ongoing negotiations and launch our second soclal enterprfse (Klngswood Café), In order lo widen our offor to ben6ficlarles', Invesllgale the b851 mod81 for th8 OP8Talional rnanagemenl 012 soclal 9ntgrprlses wlthln the charity., Se6k to establish andlor expand opportunlti&s lor pre-and posl.plac6rn9nl support ol benelidaries,. Devdop our relalion8hip with olh8r fund8rs to explore mutually beneficial partnerships and projects. Structur8, gov•rnanc8 and mona98mant The charlly Is a company limited by gu8ranl8e As d8fined by the Comp8niè¥ Act 1985 and conlrolled by Ils Mgmor8ndum and Article6 of Assoolallon, . The trustees, who are also the dlreclors for the purpose of company18w. and who s8rved durSng tha year and up to the date ol slgnature of thg financi81 stal8ments were.. Mr M I Shotlon Mr B Harrlnoton Mr DAtklnson Mr R H Mayn& Mr R Stnlth Mrs L&ura Doolay Mrs Debra Plper (Appointed 18 January 20231 IAppointed 19 July 20231 (Appointed 26 Aprll 20231 Recmllm6nt andappointmgnt of trust66S Membershlp Is opan to Individua15 or organi58llon5 which apply lo the charlly In th& form r84uired by th8 tru81ees as l out in thg governing document. All new staff shall follow the guldellnes laid out in the recrullment and seleellon pollcy. The Iwslees, report was approved by tho Board of Trustees. -•-f7' Mr B Harrin9ton Tru8tg• 14 May 2024
THE BREN PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BREN PROJECT I report lo the trustees on my oxamlnallon of the financlal st8temont8 of The Bren Project Ilhe charltyl for the y8ar endad 31 D8cemb8r 2023. R•sptsnslbllltlès and ba¥ls of report As the Iru5te6s of the charity land also its directors for th8 purposes of company18wI you are responsible for Ihe preparation of the Ilnanclal statements In accordance wlth the requirèrnènts of Ihe Companles Act 2006 Ithe 2006 Aetl. Having satisfiad my881f that th8 financial stat8m8nt5 Qf the ¢harlly are nol rèquirèd to be audlled under Part 16 of th8 2006 Act and are eliglble for Independent gxamlnatlon, I roport in r8specl of my examln&llon of the charlty's flnancial statements carri8d out under seclion 145 of thg Charities Act 2011 (the 2011 Acll. In ¢arrying out my examinallon I have followed all the appllcable Dlrections glven by thè Charity Cornmlsslon under seetlon 14515}Ibl ol thè 2011 Acl. Ind8pond•nt •xamln8rf8 Ntatement I have eornpleted my examinallon. I confirm that nts matter$ have corne lo my 2ttenlKJn In COnntion with the examination giving me cause lo belleve that in any material respect.. accounting records were not kept in respect ol the charity as requlred by se10 386 01 the 200e Act- or the financial stalemenls do not accord wllh those records., or the financial statements do not comply with the accounting requlram8nts of $8Ction 396 01 the 2006 Act other than any requlr6menl that tha 8ccountg 8 Irug and lalr viw whlch is not a matter congldsrod as part of an indep8nd8nl examinatlon,. or the fin8nci81 $18temenls have not been prepargd in accordance w41h the melh¢)ds and prlnciples of the Slalemanl ol Recommandéd Pr8eUcè for accounting and roporling by charlll&s appllc8bl8 to charitie8 pr&paring their accounts in accordanc9 with th8 Financial Reportlng Standard applicablg in the UK and Republic ol Ireland IFRS 1021. I have no concems and have come aeross no other matters In connection with the examlnallon to whlch attention should b8 drawn In Ihls report in er lo en8blg 8 prop8r under8landlng of tha Ilnanclal stat&rn9nl$ lo be r9a¢hed. Jam•8 Hargrèav•8 Cholmondeloy Housè Dee Hllls Park Chester Cheshlr6 CH3 SAR Dal8d.' 15 May 2024
THE BREN PROJECT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECElkffBER 2023 Unrg$¢rlctod Unr8strlcted nds fund8 2023 2022 Re8trlcted funds 2022 Total 2022 Not98 Income Irom.. Donations and legacitr5 Charltabl6 actlvllies Investments 91,753 122.835 1,424 148,710 98,786 144 10,000 158,710 98,786 144 Totsl Incom• 218,012 247,840 10.0(X) 257.640 Expendlturè on: Charitable aotlvllles 192,960 182,576 10,000 192.576 Total expèndltur• 192.960 182,576 10,000 192,576 Net Income and mov•mènt In funds 23.052 65,(164 65,064 Re¢on¢lllatlon of funds.. Fund balances at 1 January 2023 281.613 216.549 216,S49 Fund balances at 31 D8¢•mb$r 2023 304,665 281.fj13 281,613 The statement of financial aclMtl6s Includes 811 g8lns and Ioss88 recognlsed In th& year. All Income and expendllure derive from ctsnlinuing 8Ctivities. Tho notes on pago$ 810 16 form part ol these flnancial 8talemenls.
THE BREN PROJECT BALANCE SHEET AS A T 31 DECEMBER 2023 2023 2022 Note6 Flxed 888eto Tangible assets 11 Current assets Debtors Cash at bank and In hand 12 62 306,800 490 292,834 306,862 293,324 Credltors: amounts falllng dua wlthln on• year 13 11,8411 111,7161 Nèt eurr•nt a8$•t# 305,021 281.608 Total 8$8èts 1088 current Ilabllltles 305,021 281.613 Cmdltors.. amounts fxlllng due after mor& than ong ygar 14 13561 Net a888t$ ¢xcludSng penslon Ilablllty 304,665 281,613 Net assgts 304.665 281,813 The fund6 of the ¢harlly Unrestricted funds 304.665 281,613 304,665 281.613 Thg fboles on pages 8 10 16 fom) part of these Ilnandal 5tatement8. Th8 comp8ny 18 8nli118d to the exempllon from the aud tsqulremenl ¢ontslned In seotlon 477 of thè Companles Act 2006, lor the year ended 31 December 2023. The dItOr acknowledges her responsibililies for cornplying with the requlrem8nts of thg Companies Aci 2006 with r88P8Ct to accounting r8cord5 and the preparauon ol financial stglements. Thè members have not requlfèd thè company to obtaln an audit of ils fin8nclal statements for the year In questlon In accordance with sects'on 476. The89 fjnancial stat8m8nts have b8en prer0d in accordance with the provlslons appllcable lo companles subl8cI to Ihe small companies reglme. The financl81 statements were approvgd by the INste88 on 14 May 2024 Mr B Harrington Trusteè Company reglslrallon number 05551999 (England and Walesl
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlnu pollcles Charlty Inftrmatlon The Bren Project Is a private company Ilmited by guaranteo incorporated In England and Wales. The reglst8r6d offic8 Is Cholmond81gy House. 08e Hills Park, Chester, Cheshire. CH3 SAR. 1.1 Aecountlng conventlon The flnancial 51atement8 hav8 b9en prep8r8d In 8ccordance with the charlty's IMemor8ndum 8nd Ar85 of Assoclallon. the CompBnles Act 2006, FRS 102 'Tho Flnanclal Rèporting Standard appllcable in the UK and Republic ol Ireland. I'FRS 102,1 and th8 Charitles SORP "Accounting and Reporting by Charllieg.. Slat8m8nl ol Recommended Practl¢e appllcable to charities preparlng th81[ accounts in accordance wllh Ihg Flnanclal R6porting Standard applicable in the UK and R6public of Ireland IFRS 1021" 16ffectivé 1 January 20191. The charlly Is a Publlc Ben9fl1 Enllly as defined by FRS 102. The charlty has taken advantage of the provi8ions In the SORP for charitles not lo prepare a Statement ol Cash Flows. The financial statements arè prepared In slerllng, which is th8 funcllonal currency ol the charlly. Monètary amounts in these financlal slalernents ar8 rounded lo the nearest £. Thg financlal st81emenls have been prepared under the h1storal cost conv8nlion. The PTinclpal 8ccounling pollcl?s adopted are sèl out bèlow. 1.2 Golng concem Al th9 Ilme ol approvlng the finandal slatem8nts, the trustees h8v& a reasonable expeclatlon Ihal lh8 charlty has adequate r@50urces lo conllnu9 in op8rallon81 exist8ncg for the foreseeable futur8. Thu5 the Iru5t888 continue lo adopl Iha golng concern basis ol awovnting in preparlng thg financial statements. 1.3 Charltablo funds Unrestricted funds arg av8118ble for use at the discrellon ol the trustees In furtheranco ol thelr charit8b19 object5ves. Reslrlclod funds ar9 subl8d to specific condlllons by donor5 or grantors as lo how thtry may be us6d. Th8 purposes and uses of the reslrlcted funds are sel out in the notes to thè firianclal slatem8nls. Endowment lunds 8r8 subjèct lo speolllc eondltlons by donors th81 Ihe eapStal must be malntalned by the charity. 1.4 Income Income Is recognlsed when the charity Is legally entitled toll after any pgrforman¢e condllions have been mat. thg arnounl8 can be measured rell8bly, 8nd il Is prob8ble that income 11 b8 rec61vod. Cash donations are recognlsed on receipt, Olh8r donations are recognis8d oncg th8 charity has b8en notified of tho donallon, unlgss p6rformancè condllions requlfe dèferr81 of the arnount. Income tax recoverable In ielallon lo donations r8celved under Gilt Aid or daÉds of ¢ovgnant Is reeognis6d at the tim& ol th8 donatson. L8g&cles are Tecognlsed on receipt or othgWl8e il the charlty has baèn notifigd of on impendlng di3lfibutlon, th8 amount is known, and recelpt Is expected. If thg amount 55 nol known, the legaoy Is treated as contingent asset.
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countlng pollcl•s IContlnuo¢11 1.5 Expendllure Expendllure is recognised once there is a 1gg81 or constructive obligatlon lo transfer economlc benefit to a third party, It is probabl8 thgt 8 trAnsfer of economlo benefits will be required ill selllement, and the amount of Ihe obllgalion can be measured reliably. Expenditure Is classlled by aclivily. Thg cosL8 of oach activity are made up ol the total of dlrect costs and shared costs, including SUPFK)rt costs involv6d In undertaking èach 8Ctivlly. Dlrecl costs attrlbulab18 to a sin918 acllvity are allocated dlrectly lo that activity. Shar8d costs which conlrlbule to more than one acllvity and 8UPPOrt costs whlch 8r8 not 8tlributabl6 to a singlo activity Bre &pportion8d b8twegn those a¢llviti8s on a b8818 consSstenl wllh the use of resources. Cgnlr81 staff costs are allocated on the basls ol tlme spent, and daprgci8tion ch8rgè8 aro allocgtod on tho poruon of the asset's US8. 1.6 Tanglble Il¥ed assels Tangible lixed assels are Inlllally measured at cost anij subsequenlty measured at cost or valuation, net ol dopièclatltsn ènd 8ny imp81rmant losses. Depreclalion 4$ rgcognlsed 30 88 ¢0 write off lh6 cost or v81u811on o188sels less their residual valugs over Ihelr us&ful Ilves on tho lollowlng bases.. Compul8r5 33% stralght Ilna The galn or loss arf61ng on the disposal of an ass8t is delermlngd a$ the dlfference belweon the sale proceeds 8Hd the cairylng value of th8 asset, and Is recognised in the statemtsnt of financ481 acllvities. 1.7 Impalrmont of flxed assets Al each reporting end dale, Ihe ¢h8rily rgviews the carryin9 amounls of its langlble assets to detgrmlne whether ther& Is any indleatlon Ihat those assets have SUffed an imp8lrment los$. 11 any such irleatIon exlsts, the recoverable amount ol th8 a888t Is eslim8ted In order to deteimlne the exient of the imp8irment loss lil any). 1.8 Ca8h and cash equlvalent8 Cash and ¢a8h equlvalents include c8$h in hand, dEposit5 held 81 call wSlh banks, oth8r short-term liquid Investments wllh original maturlties of three months or less, and bank overdrafts. Bank ovardrafts are shown thin borrowings in current li8bilitl88. 1.9 Flnan¢l81 Instruments Th8 charily h88 8led8d lo apply Ihe provlslons of Se40n 11 'Baslc Financlal Ingtrum8nt8' and Secllon 12 'Olher Financial Inslwmenls Issues, of FRS 102 to all of It8 financial Instruments. Flnanclal Instruments are recognlsed In the charity's b8lanc8 sheel when the charlly becomes pariy to the contrgctual prov181ons of the instrument. Financial assets and lièbillliès aro offset, wlth the ngt amounts presented in the Ilnanei81 statements. when Iherg 1$ 818gally gnforceabl8 rht to Sel off the recognlsèd amounts 8nd ther8 Is an inl8nlion to settle on 8 nel basls orto rgallse th& asset and sew8 the Ilability simultaneously. Baslc Ilnanclal assels Baslc linanclal a8sels, which indude dèbtors and cash and bank balances, are Initially me88ured al transaction prlee ineluding transacllon costs and are subsequently carrled 8t amortlsed cost uslng the effectlve Inleresl method unless th8 grrangam6nl conslltutas & financlng transaction, wher8 the transadion is memsured at the present value of the lulure receipts d18counled al a market rate of Interest. Flnancial assets cla8sill8d as r8ceivablg wlthln one year are not amortlsed.
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollol¢¥ Icontlnuedl Baslc Ilnanclal Ilabllitlos Baslc ffnanclal Ilabllitias, includlng cr6dltors and bank loans 8re Initially r6cognls6d al transaction pric8 unlgss the arrangement conslitules a financing transaction, where the debt instrument Is measured al the present value ol the ltslure payments dlscounted at a market rato of inlgresl. Flnanclal li8bi151ies classified as payable wlthin one year are not amortlsed. Debt Inslrurn8nts arg subsequently carrS8d at arnortlsed cost, uslng th8 effe¢live Interest rate method. Trade creditors are obllgatlons lo pay for goods or servlces that have b98n aoquired in the ordlnary coursg of operations from suppli8rs. Amounts payab18 are clAssiI8d 88 currenl Ilabi151ies if payment 15 due wlthin on8 year or less. If not, Ihey are presented as non-cvrrent liabllltlas. Trade cr8ditors are recognlsed inillally al transaellon prfee and subsèquently m68sured al amortised cost using the effectlve Interest method. Der8cognltlon of flnaftclAI Ilabllltlos FlnancSal liabllllies are derecognlsed when the charlly's contr8Ctual obllgatlons explre or are disohargod or C8nc8118d. 1.10 Employao b8heflt8 Th8 cost of any unused holiday enlillem8nl is rècognised In the perlod In whlch th8 8rnployee'3 $8rvic98 are recelved. Termlnalion benefiis are recognlsed immedlalely as an expense whan the charity is demonstrably commltled to termlnAte thè tmploymgnl ol an ernploy88 or to provid8 lerrnlnalion benefits. 1.11 Rètlromant bon•flt$ Payments lo dallned wntrlbulion r6tir6ment benefit sch8mes are charged as an axponsts as thèy fall ijua. Crltlcal accountlng 8Stlmat85 and Judg•monts In the appllcallon ol th8 ch8rity'$ aecountlng pollcles. the tru51e8s are requlred to make ludgèmenls, estlmAtes and assumptions about the carrying amount of as88ts and liabllSlles that ale nol roadily apparent from other sources. The estimates and assoclatèd assumptlons are ba8ad on historical experleneè and other factors thAt 8ra conslder9d to be relevant. Actual results may diff8r from Ihese estimat89. Th8 estimates and underlying assuniplions arè r8viewed on an ongolng basis. Revi8ions 10 Èc¢ounting esllmales are recognised In the period In which the esllmalo $ revisgd where the revlslon aff8cls only that period, or in th8 period of the rgvision and futurè p8riods where the re$lon affects both current and lulure Pgriods. Income from donatlons and Iogacleg Unrostrlcted Restrlct*d fund$ funds 2023 2023 Total Unrg$trl¢tsd Restrlcted fund¥ funds 2022 2022 Total 2023 2022 Don8lions and gifts Grants rocelvabl6 5.670 86.083 5,670 86,083 22,399 126,311 22,399 136.311 10.000 91,753 91,753 148,710 10,000 158,710 10.
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 In¢ome from donallons and l¢gael•s Icontlnugdl Unrestrlcted Re$lrlcted lunds funds 2023 2023 Total Unr•strict8d Rostrlctad funds funds 2022 2022 Total 2023 2022 Grants rocolvabl• for coro actlvltl•s Blg Lottery Olh6r 10.000 10.000 126,311 86.083 86,083 126,311 86.083 86,083 126,311 10.000 136,311 Incom• from ch8rltabl• a¢t5vltl08 Unrestrlcled funds 2023 Unreslrlcted funds 2022 Brnn Blk•s Bren 8lkes 122,835 98,786 Ineom• from Inv88tm8nt8 Unr8Strlcted Unrostrlctod funds funds 2023 2022 Interest recelvable 1.424 144
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2023 Expendllure on charltable actlvltles General Bron Blkos Fufids 2023 Totsl G•n•rnl Brgn Blkes Funds 2022 Total 2023 2023 2022 2022 Dlr0Ct costs Staff costs Depreciation and Impairrngnt Charitable 8xpendlture Rent 65.354 61,610 126,964 56,102 57,4f2 113.514 14e 148 S,535 7,200 12.735 4,8fj2 7,200 12,(2 Charitable expenditure Repalrs & Maintanence Charitable èxpenditure Insur8n¢e 533 533 1,414 1,414 1.272 1,272 1.221 1,221 Charllable experHlltur8 Motor & Travel Costs 913 913 829 829 Charllable oxpendltur8 Lo981 & prof88slonal fe8S 2.880 2,880 14.022 14,022 Charitable expendlturé Telaphonè Charllabl8 8xpendilure Olher orrice costs Charitable expendlluro Staff Tralnlng Charitabl8 expgnditure Computer Costs 829 829 960 960 3.330 3,330 5.326 5,326 751 751 179 f79 ss 55 Ch8rit8blè 8xp8ndllure Subscrlptlons Charitable expendlturè Benefici8ry training & support 561 561 725 725 6,469 6,469 7,423 7.423 CharS18blè expsnditure materlals & equlpmenl 491 32.719 33,210 416 31,425 31.841 89,102 101,529 190,631 93.503 96,037 189,540 Share ol support and govèrnaneè costs Is8è notè 71 Governance 2,329 2,329 3.036 3,036 91,431 101.529 192.960 96,S39 96.037 192,576 12-
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expèndlturg on charltablo actlvltles IContlnugd} Analysls by fund Unrestrlcted funds- general R881rlcled funds 91,431 101.529 192,960 86,539 10,000 96.037 182,576 10,000 91.431 101,529 192,960 96.539 96.037 192,576 support cost8 allocattd tts acllvltles G•noral Funds 2023 Total 2022 Governance 2,329 3.036 2023 2022 Governan¢g costs compr189: Indpgndenl examlner f8e Other Ilnandal SeIce8 1,622 707 1,526 1,510 2.329 3,036 Tru8te•8 Nong ol the trust695 lor 8ny p8rson8 (x)nn8cl8d with Iheml received any remunefatlon or benefits from the eharfty durlng the year. Employè•s The average monthly numb9r of eoyees durfng the year wag.. 2023 Numb•r 2022 Numb•r Employment ¢06t8 2023 2022 Wag8s and sala¥i98 Olh8r p8nslon costs 123,892 3.072 111,262 2,252 126,964 113,S14 13
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2023 Employees Icontlnuedl Thèro wer9 llo 9mploye8s whose annual remunwatlon w88 more than £60.000. 10 Taxatlon The ch8Ttly Is exempt from taxallon on Its actSvSlles becaus8 all its income Is appligd for charftable purposes. 11 Tanglblo fixed a88•ts Co¥nputer• Cost At 1 January 2023 5,576 At 31 D&¢ember 2023 5,S76 Dèpr8clatlon and Impalm)ent At l January 2023 Dèpr8elallon charged in the year 5,571 At 31 December 2023 5,576 Carrylng amount At 31 December 2022 12 Debtors 2023 2022 Amounts fèllln9 duo wlthln ono year.. Other debtors 62 13 Credltors: amounls fallSng due w51hln one year 2023 2022 Notes Deferred Incoma Accruals and dèferred income 15 10.000 1.716 1.841 1.841 71.718 14 Cred5tor8: amounts falllng du• aft•r moro than on• year 2023 2022 Accruals and d8f&rred income 356 14-
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 D&f•rr•d Ineomo 2023 2022 Other d6ferr8d Income 10,000 Deferred Income Is Included In the flnanGlal 5t&tements as follows: 2023 2022 Def6rr&d incomg is included ¥thIn.. 10,000 Movemènts in tho year.. Dele118d inwmg al 1 January 2023 Released from previous periods Resources d&ferred in the yeai 10,000 110,0001 10,000 Defarred Incom8 gt 31 Decembor 2023 10.000 18 Rellr•m•nt bonèfll Schemes 2023 2022 Oellned contrlbutlon schemes Charg& to profll or loss in respect of deflned contrlbullon $ch8me8 3,072 2,252 The charlty opèrates a defined contrlbutlon pension schème for all qualilyino employees. The assets of tha 8chgm9 are held Serat&1Y from those of the charity in an independently admlnlstereil fund. 17 Unrèstrlcl•d fund8 Tha unrèstricted funds ol the charlty comprlstr the unexpended balanees of donations and grants whlch are not subject to speeiftc conditions by donors and grantors as lo how th8y may be used. Th889 includg deslgnalod ftJnd8 whlch have been set asld6 out ol unrestri¢18d lunds by th8 Iwslees for speclflB purposes. At 1 January 2023 Incornlng Resourcfrs resources oxpènded At31 Do¢embor 2023 New Proleot Deslgnaled Fund5 General Funds 149,563 132,050 1,424 214,588 150,987 153,678 If92,9601 281,613 216.012 1192,9601 304.665 15
THE BREN PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Unrostrletèd funds Icontlnuodl Prevlous year.. At 1 January 2022 Incomlng r•souree$ Resource8 èxpèndèd At31 D•¢embèr 2022 New Project D&slgnat8d Funds General funds 149.419 67.130 144 247,496 149,563 132,050 1182,5761 216,549 247,e40 1182,5761 281,613 18 Relatèd PArty trantsoctlon$ There were no dlscl088b19 relgled party Iransacllons durlng the year {2022- none). 16-