Brilliant Outcomes
Charity No. 1141585
Trustees' Report and Unaudited Accounts
31 March 2023
Brilliant Outcomes Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 to 12 |
Page 1
Brilliant Outcomes Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1141585
Trustees
The following trustees served during the year:
A. Owens
A. Lewis
C. Owens
M. Baghurst
Accountants
Case Accounting Ltd 20 Goodwood Way Cepen Park South Chippenham Wiltshire SN14 0SY
OBJECTIVES AND ACTIVITIES
The charity exists to:
-
Develop the capacity and skills of those members of society who are in need of such development by virtue of a physical, mental, financial or other disadvantage, particularly by the provision of opportunities which they would not otherwise be given, in order to enable them to engage and participate more fully in society.
-
Support and advance education and training (including vocational training) by the provision of financial or other assistance with a view to maximising access to educational facilities and opportunities in order to develop individual capabilities, competency and skills.
-
To promote urban and rural regeneration in areas of social, economic and environmental deprivation, in particular by the maintenance, improvement or provision of public amenities and infrastructure.
-
To promote the protection of the environment by socially sustainable ways.
In the long term, the charity seeks to satisfy the objectives stated above, and to do so by making appropriate grants.
Public benefit
The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
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 in planning future activities and in setting the grant making policy for the year.
Page 2
Brilliant Outcomes Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The charity made grants in the sum of £49,894 to the Eithiopia Medical Project and £5,000 to Kudimba UK.
Investment policy
There are no restrictions imposed on the investment policy by the Trust Deed. The trustees make the investments in accordance with Charity Law.
FINANCIAL REVIEW
Reserves policy
The trustees have updated their reserves policy to retain adequate reserves for the next 24 months running costs, with funds in excess of this falling within the giving policy.
PLANS FOR FUTURE PERIODS
The charity aims to increase awareness of its availability to new potential beneficiaries. The trustees have identified projects and are currently carrying out due diligence prior to making a donation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Brilliant Outcomes converted to a Charitable Incorporated Organisation on 15 April 2019.
Recruitment and appointment of new trustees
The trustees of Brilliant Outcomes have the power to appoint new trustees. There is no restriction on the length of time they may serve the Trust. The current trustees will provide induction and training to the newly appointed trustees.
Organisational structure
The charity is managed by the board of trustees who, in their meetings, agree the broad strategy and areas of activity for the charity, including consideration of investment, reserves and risk management policies and performance.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees on 29 December 2023
A. Owens Trustee
Page 3
Brilliant Outcomes Independent Examiners Report
Independent Examiner's Report to the trustees of Brilliant Outcomes
I report to the trustees on my examination of the financial statements of Brilliant Outcomes for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements 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 can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
T R Case ICAEW Case Accounting Ltd 20 Goodwood Way Cepen Park South Chippenham Wiltshire SN14 0SY
29 December 2023
Page 4
Brilliant Outcomes Statement of Financial Activities
for the year ended 31 March 2023
| Notes Income and endowments from: Donations and legacies 3 Investments 4 Total Expenditure on: Charitable activities 5 Other 7 Total Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ - 927 |
Total funds 2023 £ - 927 |
Total funds 2022 £ 993,750 1,123 |
|---|---|---|---|
| 927 54,894 512 |
927 54,894 512 |
994,873 48,500 775 |
|
| 55,406 9,205 |
55,406 9,205 |
49,275 - |
|
| (45,274) - |
(45,274) - |
945,598 - |
|
| (45,274) | (45,274) | 945,598 | |
| (45,274) 1,090,397 |
(45,274) 1,090,397 |
945,598 144,799 |
|
| 1,045,123 | 1,045,123 | 1,090,397 |
Page 5
Brilliant Outcomes Balance Sheet
at 31 March 2023
| Charity No. 1141585 Fixed assets Investments 9 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Unrestricted funds General funds 11 Reserves Revaluation reserve 11 Total funds Approved by the trustees on 29 December 2023 And signed on their behalf by |
2023 £ 1,009,658 1,009,658 36,359 36,359 (894) 35,465 1,045,123 1,045,123 1,045,123 1,035,918 1,035,918 9,205 9,205 1,045,123 |
2022 £ - |
|---|---|---|
| - 1,090,829 |
||
| 1,090,829 (432) |
||
| 1,090,397 1,090,397 |
||
| 1,090,397 | ||
| 1,090,397 | ||
| 1,090,397 | ||
| 1,090,397 - |
||
| - | ||
| 1,090,397 | ||
A. Owens Trustee
Page 6
Brilliant Outcomes Notes to the Accounts
for the year ended 31 March 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Expenditure
Recognition of expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Page 7
Brilliant Outcomes Notes to the Accounts
Grants payable
All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 8
Brilliant Outcomes
Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
Income and endowments from: Donations and legacies Investments Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations 4 Income from investments Interest |
Unrestricted £ 927 927 |
Unrestricted funds 2022 £ 993,750 1,123 994,873 48,500 775 49,275 945,598 945,598 945,598 144,799 1,090,397 Total 2023 £ - - Total 2023 £ 927 927 |
Total funds 2022 £ 993,750 1,123 |
| 994,873 48,500 775 |
|||
| 49,275 | |||
| 945,598 | |||
| 945,598 | |||
| 945,598 144,799 |
|||
| 1,090,397 | |||
| Total 2022 £ 993,750 |
|||
| 993,750 | |||
| Total 2022 £ 1,123 |
|||
| 1,123 |
Page 9
Brilliant Outcomes Notes to the Accounts
| 5 Expenditure on charitable activities Grants made Governance costs 6 Analysis of grants Activity or programme Eithiopia Medical Project Kudimba Association for Social Education Womens Aid Federation of England 7 Other expenditure General administrative costs Independent examination |
Unrestricted £ 54,894 54,894 Unrestricted £ 50 462 512 |
Total 2023 £ 54,894 54,894 Total 2023 £ 49,894 5,000 - - 54,894 Total 2023 £ 50 462 512 |
Total 2022 £ 48,500 |
|---|---|---|---|
| 48,500 | |||
| Total 2022 £ 32,500 - 13,000 3,000 |
|||
| 48,500 | |||
| Total 2022 £ 343 432 |
|||
| 775 |
8 Staff costs
No employee received emoluments in excess of £60,000. The average number of employees was nil (2022: nil).
Page 10
Brilliant Outcomes Notes to the Accounts
9 Investments
| Cost or revaluation Additions At 31 March 2023 Net book values At 31 March 2023 10 Creditors: amounts falling due within one year Other creditors Accruals 11 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Revaluation fund Total revaluation reserves Total funds |
At 1 April 2022 1,090,397 - |
2023 £ 432 462 894 Incoming resources (including other gains/losses) £ 927 9,205 9,205 10,132 |
Other investments - Listed £ 1,009,658 1,009,658 1,009,658 Resources expended £ (55,406) (55,406) |
Total £ 1,009,658 |
|
|---|---|---|---|---|---|
| 1,009,658 | |||||
1,009,658 |
|||||
2022 £ - 432 |
|||||
| 432 | |||||
| At 31 March 2023 £ 1,035,918 9,205 |
|||||
| - | 9,205 | ||||
| 1,090,397 | 1,045,123 |
Purposes and restrictions in relation to the funds: Revaluation reserves Represent the amount by which investments exceed their historical cost.
Page 11