CHARITY REGISTRATION NUMBER: 1142857 The Beaverbrooks Charitable Trust Financial Statements 28 February 2025 Chartered accountants & statutory auditor 3A Clifton Square Lytham St Annes Lancashire FY8 5JP
The Beaverbrooks Charitable Trust Financial Statsmgnts Year ended 28 Fgbruary 2025 Paga Trustees, annual report Independent auditors report to the members Statement of financial activities 13 Statement of financial position Statement of cash flows 14 15 Notes to the financial statements 16
The Beaverbrooks Charitable Trust Trustees. Annual Report Y8ar ended 28 February 2025 The trustees present their report and the financial statements of the charlty for the year ended 28 February 2025. Rof•renco and admlnlstratlve details Registerod eharlty name The Beaverbrooks Charitable TNst Charlty rgglstratlon numbor 1142857 Prlnclpal offlce Adele House Park Road St Annes-on-sea FY81RE Lancashire The trustses A Blackbum M l Adl8slone OBE P Holly S Nicholas Audltor John Potter & Harrison Chartered 8c¢ountsnts & statutory auditor 3A Clbfton Square Lytharn StAnnes Lancashlre FY8 5JP Bankorn National Weslminsler Bank PIC 24 The Square Sl Annes-on-sea Lancashire FY8 1RH
The Beaverbrooks Charitable Trust Trustees, Annual Reportl¢onUnu¢dJ Year ended 28 February 2025 Structure, governance and management The Trustees are pleased to present thèir report, together with the fingncial ststements and independent auditorfs report, for the year ended 28 February 2025. The Trustees conflm that the financial statements comply with the chanty's Tnjst Deed, the Charities Act 2011 and the Ststement of Recommended Practice applicable lo charitses preparing their ac¢ounts wSlh the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland. The Beav8rbrooks Charitable Trust's charilablg objectives during the finanoial year were lo benefit such ¢haritsble purposes and registered charities as the Trustee8 in Ihelr absolute discreOn thlnk fil. The Trustees enlrusl the day to day management to the G&n8ral Manager, Mrs. Susanne Nichola8, who Is a130 one of the Trustees. AS well as the involvement of the Beaverbrooks the Jewellers Limlled's Chalrman and the members of Ils management team. Beaverbrooks the Jewellers LimSted supports operafjng procedures in a variety of ways as outlined In the servlce level agreement. These varlety ol ways, whkh a all in kind contributions. Include.. Flnanclal management and 88tvices -HR - Press, PR and communications Officè space and facilities The Beavertjrooks Chaiitable Trust Is the offlcl81 charity of Beaverbrooks the Jewellers Llmlled and has b8en regSslered wlh the Charity Commlsslon slnce 13 July 2011, The date from whlch it was Constited vla the Declaration of Tntrsl w86 20 Aprll 2011. The charity Is overseen by the following group of Trustees as a whol8'. - Mafk18aac Adlestone OBE Chairman - Anna Blackbum Susanne Nicholas Paul Holly Trusts8s ale nominated and appointed based on their suitability as decided by current member5 of the Trnste8s and in accordance with the terms sel out in the Declaration of Trust. Trustees are invited lo attend an inducts'on training process for the running and operation of The Beaverbrooks Charitable Trust. The Trustees meet qU8rterty and Ihe meetings are fully reported. The Trustees discuss a range of matters but with a priority on the ov&rall governance arKI strategic direction of The Beaverbrooks Chantable Trust. Trustaes are appointed for their specific expeiience in meeting The Beaverbrooks Charitable Trusvs Charitable objecttves. The Be8verbrooks Charftable Trust has an outstandlng commltment to donate £800,000 over the next 4 years to The Marcla and Andrew Brown Charitable Trust. This is the only commitment that Is in place and financlal dsks are reviewed on an on-going basis. During tho year under review, all The Beavetbrooks Chaiitable Trusvs management SpOnSibl11ty was structured through the General Manager, whose responsibilities include staff managemenL partnerships, access io funding. standards, delivery and compllance. This role reports dlrectty to the board of Trustees. The Beaverbrooks Charitable Trust currently utilises the Ime of four employees of Beaverbrooks the
The Beaverbrooks Charitable Trust Trustees. Annual R•port(contlnuod) Year ended 28 February 2025 Jewellers Limited in order to administer its affaiTS. Beavert)rooks the Jewellers Limited does not charge the charity for this time, since it Is not practicable lo quantty their allr)cation of time and hence salary cost No remuneration is paKI to key management personnel by the eharfty. The followng is based on The Beaverbrooks Charitable Tru$fs governing documents.. the charity shall be overseen by the Gener81 Manager who Ilaises with her direct line manager, Paul Holly, who is also a Trustee meetings are p18nned to dlscuss the on-going involvement and futu development of the charity activtties arranged by the charity will be coordinated by the General Mana9er. Part-time staff may be used as and when required no person involved In the charity will have any assoclats'on with any othér charity unless agreèd by The 88av&rbrooks Charitable Trust Trustees, and all staff are employed by Beaverbrooks the Jewellers Limited and musl adhere to all procedures set out In that company's HR policles.
The Beaverbrooks Charitable Trust Trustees, Annual Report (eontinued) Year ended 28 February 2025 Objectives and activiti08 The Beaverbrooks Charitable Trust's charitable objectives during the year of vIeW were lo provide aid and support lo a broad spectsum of chanlies and to enable the employees of Beaverbrooks the Jewellers Llmlled lo support Iheir local chariti8S, the latter being achieved by.. making donations available to Beaverbrooks the Jewellers Limited's stores and office departments, based on a fixed amount for each employee, and allowing each team to S818Ct a worthy local charity a8 their recipienL and matching amounts raised by indlvldual employees for their ¢)wn chosen charities. In addition, the Trustees support a wkje range of charities whlch cover 8ducalion, weff8re, health, mentonng and self-developmenl, Jewlsh and Israeli charities and the community as a whole. The Charitable Tru8t h8$ invested in a propety which it rents to a local charity for £1 per year, thSs Is recorded as a social investment in note 11, This chanty wa$ in need of a well rnainlained, safe and pemianent base from which lo operate and the Ch8rilabl• Trust re delighted to support them In achleving Ihelr charitable oblectsves. The Trustees have glven careful conslderatlon to the Charity Commlssion's guldance on public beneflt when s&tting ils aims and a¢tlvitle$. The key objective of the charity as set out In the constitution Is to benefit such charitable purposes and registered ch8rllles as the Trustee8 In thelr absolute di9¢relion Ihink fiL Strategy Bulldlng and marketing our business The Trustees apply 8 thorough approach to the review of the distributlon of charitable donations rather than focusing on one or key, major projects. This is based on the philosophy that il is better to give £1 one hundred times than it Is to give £100 once. The Trustees believe that this philosophy helps to engage the Beaverbrooks, employees in the concept of givlng both thelr time and their money. In tum this helps raise the profile of the Charity. -Knowing and unders18nding our mark8ts Target markèts and key areas IdentSfied to include dlseng8ged indivldual8 and communities. -Adding value Ihrough collaborallve partnerships Develop The Beaverbrooks Charitable Trust as a provider of fvnds lo selected charllles. worklng In partnership with other organi$ations, to deliver Strateg prfoAtles and maximis& profile.
The Beaverbrooks Charitable Trust Trustees. Annual Report{conllnuedJ Year ended 28 February 2025 A¢hlovom•nl$ and perfomiancg Al the core of our Beaverbrooks family culture is our desiré lo support and do good in the communities we live and work in. Beaverbrooks donates to charity through The Beaverbrooks Chanlable Tru51 and actively encourages and empowers its colleagues to support charities and community groups in their local area.They do this in a variety of way5 including fundraising, volunteering their time and through Payroll Glving. Funding provKled by Beaverbrooks has enabled the Beaverbrooks Charitable Trust to distribute over £1.6 million during the year to UK registered charities which has enabled us to have donatsd in excess of £25 million since the year 2000, a figur& we are extremely proud of. The charity's Trustees (our ChaSman, Managing Director, Head of Community Responsibility and Charity Manager) met every 2-3 weeks throughout the year lo discuss our charitable activity and commitments. They also met regularly wllh a variety of contacts al charities, both in person visitslmeetlngs and on video calls. to discuss our ongolng support and r81abonship$. Across our spectrum of charlty activity (donations, team donallons, payroll glving and volunteering) w8 SUPPOrt well over 750 separate charitsble organlsallons èach year. In 2024, Beaverbrooks again received HM Government & Institulo of Fundraising 'Diamond Award, for our Payroll Giving for the 7th lime. 11 was in fact the 13th consecutlve year we have been recognised with an Award for our commitment lo Payroll Giving and we are extremely proud that over 45Vo of our people 8UPPOrt their own chosen chari118s In thls way. During the period, our people gave £66,594.09 12023-2024.. £69,534.34) through payroll giving, The nel donation is 100% matched by the company resulung In total donations of £117,263.66 12023-24.. £121,523.78). We are very proud that our colleagues contlnued to support their favourile chanties in thls way and that colleagues have chosen lo join the scheme. Beaverbrooks encourage colleagues lo get involved In a wlde range of volunleerlng projects, wSlh minimum of 2 days paid time116 hours) available to each employee, each year. We have set thls as priority for all our colleagues in recent years and management now report their team's progres5 on quarterly basis to their senior management to keep this as a key focus, We 8re proud lo say that our lime giving figures during the year increased to 5,718 hours1715 days of company Ilme glven to dolng good in the community12023-2024 .' 5,584 hours1698 days). 8eaverbrook8 colleagues have again taken part in a variety of fundralsing and mass participation events - from large scale events like Marathons to Sky Dlvlng lo Bake Sales and selllng homemade ilemslproduce. During the period our colleagues raised £69.235.36 12023-24.. £64,871.80) which we match funded lo £138,470.72.12023-2024 .'£127,743.601. The Beaverbrooks Blackpwl 1 OK Fun Run which we sponsor and support wllh Tnnity Hospi¢e ea¢h year was another great success. The 2024 event rai88d £84,990.59 for the H05pi¢e. We also had colleagues helping on the day as route and finish line marshals. The Beaverbrook5 Bike Ride was also very succe55ful in June 2024 wlh colleagues cycling and marshalling the roule and helping raise fvrther £26.703.08 for Trlnlty Hospice. Each year, every Beaverbrooks store and office team selects a local charity for them lo support wllh their Team Donation. In 2024-25 this figure was £100 per colleague. This figure is sel each year and based on the success of the ¢ompany in the previous year. Thls initiative continued to be of huge importance as it meant we Could support many smaller charities in areas where Beaverbrooks are represented and also develop further the excellent relationships our teams have with chari116s in Ihelr own communities.
The Beaverbrooks Charitable Trust Trusteos. Annual Report f¢ondnuj Year ended 28 Fobruary 2025 Financlal revlew Principal sources of income for The Beaverbrooks Charitsble Trust include donations amounting to £1,380,100 12024.. £1,975.0001 from Beaverbrooks the Jewellers Limited. The charity would like to thank the company for its support. Investrnent policy The BeaveTbrooks charitab Trust rrieS forward £4,747,816 12024.. £4,659,332) of unr&stricted funds into the new financial year. Inveslmenls represent unlisted inve$trments, at cost, in the share capital of Bèav8rbrooks th6 Jéwèllers Llrnited, a cornpany registered in the United Kingdom. The Trustee3 are mindful of their responsibilities in relation to an investment poli¢y and ensure that the policy addresses the needs of the charilabie trust and its beneficiaries in the short, medium and long term, laklng into account the future needs of the charity in terms of both capitsl and Income. The shares in Beaverbrooks tha Jewellers Limited wor8 donated lo the charity by the directors of the company. Dividend income reIved from thes8 sharès alongslde administrative 8UPPOrt from Beaverbrooks are consldered sufficient to support the charlty In the long lefm. Given this medlum to long term security it is not Ihe Inlenlion of the Trustees to ullllse charitable fund8 In order lo dlverslfy the investment base. The accumulated cost of the investment In these shares amoun15 to £4.322,10012024'. £4.322,1001 as disclosed In note 12. This 11 generate addS1ion81 Income for the charity in terms of dividends. Re88rv8s pollcy The Trustees, alm is lo hold sufficient reserves whlch would meet The B8averbrooks Charitable Trust'8 future adminislralive operating costs lor a 3 10 6 month period, in line with the Charities Commission's recommendations. All other funds are hekl wlth a view to furthering the ch8rilable purposes of the Tru81. The charlty does not CUrrenY have any restrlcted reserves. Support costs, which include govern8nce costs, were £34212024.. £1931 r8presenling bank charges. Apart from resources expended in connecllon with charitable activities, no other resources were expended during the year. Thls reflects The Beaverbrooks Charitable Trusvs core objective of minimising costs in order to maxlmlse resources available for charitable activities. The audit fee, amounting lo £3,60012024'. £3,480), of these financial statements will be met by Beaverbrooks the Jewellers Limited. Re18ted parties M Adlestone and A Blackburn who are the Truste8s of The Beaverbrt)oks Charitable Trust are also directors of Beaverbmks the Jewellers Limited.
The Beaverbrooks Charitable Trust Trustees. Annual Report (¢Onllnu•dJ Year ended 28 February 2025 Flnanclal revigw (conllnu•dJ Going concern After making enquiries. the Trustees have a reasonable expectation that the charity has adequate resources to conts'nue in operational 8XlStence for the foreseeable future. Thus they Continue lo adopt a going concern basls of accounting in preparing the financial sta18ments. Further details regarding the adoption of the going concern basis can be found in the slalemenl of accounting policies in the notes lo the financial statements. Principal risks and uncertainties The charty is fully funded ty the company Beaverbrook5 the Jewellers Limited. The pnncipal risk lo the actsvitles of the charity would be a reduction in that fundin9. The Trustees of the charity include Directors of the company who are fully comfnitted lo funding thè cha(Itable a¢livith'es of the trust. Therefore the Tru8te6s do not conslder this risk lo be relevant at this time. Plan8 for futurg P8rl¢)ds The plans for the future include.. Incr8aslng the range of inlliatives dellvered by Th8 Beav8rbrooks Chantable Tru81,' and continuing lo develop existing and Snvestlgate new Initiatives In partner8hlP with other local partners, The Trustees plan to continua with the same phllosophy and exisllng stral8gl&$ by carefully ¢onsiderin9 the Charities they support and wlsh to do 50 on an onqoing basis. The major changes in charities supported by the Beaverbrooks Charitable Trust wlll be driven by the Ghoices of Beaverbrook's employees as to Ihelr preferred ¢harity for the year as well as any'fund malGhlng' that is driven by employ8e fijnd-raislng aclivS1ie8, Tru8tee•' r•8pon8lbllltle8 •tatsmonl The trustees are responsible for preparing the truslees, report and th8 flnanclal slatsments in accordance with applicable law and United Klngdom Accounting Standards {Uniled Kingdom Generally Ac¢epled Accounting Practice), The law applicable to charitles In England and Wales require8 the charity trustees to prepare financial stalernents for each year whlch give a true and fair view of the slate of affairs of the charity and of the Incorning resources and application of resources, of th6 charity for that period.
The Beaverbrooks Charitable Trust Trustsos. Annual Report(conllnued) Year ended 28 February 2025 In preparing these financi81 ststements, the trustees are required to.. select suitable accounting polki8s and then appty them conslstenlly., observ8 th8 methods and principles in the applicable Charities SORP., make Judgments and ac¢ounting esllmates that are r88son8ble and prudent,. Stste whether applicable UK A¢countlng Standards have been followed, 8ublect to any material departures dlsclosed and explained In the financial Statements., prepare the financial statements on the golng concern basi$ unless It is inapproprlate lo presume that the charity will continue In business. The trustees 8rè responsible for keeping adequate accounting records that ale suffici8nt to show and explain the charltys transa¢tion$ and disclose with reasonabl8 accuracy at any time the financial position of th8 charlty and enable them to ensure that the linancial statements comply with the Charllies Act 2011, the applicable Chari118s (Accounts and Reports) Regulations. and the provisions of the Trust Deed. They ar& algo responsible for safeguarding the asset3 of the charity and hence for taklng reasonable steps for the prevention and del8clion of fraud and other irregularities. The Iruslees, annual report was approved on 12 August 2025 and signed on behalf of the board of trustees by.. M l Adlestone OBE Chaimian
The Beaverbrooks Charitable Trust Independent Auditorfs Report to the Members of The Beaverbrooks Charitable Trust Year ended 28 February 2025 Oplnlon We have audited the financial ststements of The Beaverbrooks Charitable Trust (the '¢harity'l for the year ended 28 February 2025 which comprise the statement of financial activities, statement of financial posits'on, ststement of cash flows and the related notes, including a summary of significant accounting policie5. The financial reporting framework that has been applled in their preparation Is applicable law and United ngdoM Accounting Standards, including FRS 102 The Financial Reporknng Standard applicable in th& UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial stalemenls.. give a true and fair view of the stal& of the charitys affalrs as al 28 February 2025 and of its incomlng r850urces and application of reSoUrs, including its income and expenditure, for the year than 8nd8d', have been properly prepared in accordance wlth United Kingdom Generally Accepted Acoountlng Practice. have been prepared in accordance with the requlremenls of the Charities Act 2011, Basls for oplnlon W& Conducted our audit sn acGordan¢e with Internallonal Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in thè auditorfs rospon5ibilities for the audit of the financial statements section of our report. We are independent of the Gharity in accordance with the ethical qUIrementS that are relevant to our audrt of the flnancial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other elhlcal rèsponsibilities in accordance with these requirements. We believe that thè audil evidenc8 we have obtained is sufficient and appropriate to provide 8 basis for our opinion. Conclu•lon• rnlatlng to golng ¢one•m In 8uditlng the financial statements. we have concluded that the Iruslees, use of th8 going concern basls of accounting in th8 pr6paratlon of th8 financial statements is appropriate, Based on the work we have perfomed, we have not idenliffed any materlal uncertainlles relating to events or conditions that, indivKlually or collectively. may cast slgnlficant doubl on the charity's ability to ¢onlinue as a going concern for a perfod of at least tsvelvé months from when the financial stal&ments are aulhorised for issue. Our responsibilities and the r8sponsibili8s of the truste8S With respect to going concern are desGribed in the relevant sections of this report.
The Beaverbrooks Charitable Trust Independent Auditorfs Report to the Mombers of The Beaverbrooks Charitable Trust (¢oniirtuod) Year ended 28 February 2025 Other Inforniallon The other information compris8$ Ihe infomation included in the annual report. other than the financial statements and our audrtor's report Ihareon. The Iruslees are responsible for the other information. Our opinion on the financial ststements does not cover the other infom)ation and, exGept lo th8 extènt otherwise explicitly slated in our port, W8 do not express any form of assurance conclusion thereon. In eonnectk¢n with our audlt of the financlal statements, our responsibillty 1$ lo read the other infomialion and, in dolng so, consider whether the other information is malerSally Inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misslaled. If we idenlify such material inconsistencies or apparent matedal misstatements. we are required to determlne whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have perfoed, we conclude that there ig a malertal misslalemenl of this other informatj'on. we are required to report that fact. We have nolhlng to port in Ihls regard. Mattern on which wo ar• rwulrod to roport by oxe•ptlon In the light of the knowledge and understanding of the charity 8nd ils envlronm8nl obtained In the course of the audit, we havè not identSfied material mlsstalemenls In the trustees, report. We have nothing to report In resp8Gt of the following matters in relatKin lo which the Charities Act 2011 requires us lo report to you if, in our opinion.. thè Informallon given in the Iruslee8' report is incon8isl8nt in any malerlal ra8pecl wlth the financial statements., or adequal? aceounllng re¢ord$ have not been kept., or th& financial statamenls are not in agreement wlth the accounting records and retum8', or we have not received all th8 infom8Ion and explanatlons we require for our audit. RKponslbllltle• of tru8tee• As explained more fully in thè Iruslees, responsibilities Statement, the trusiees are respon8ible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such Internal Control as the trustees determine Is necessary to enable the preparation of financial statements Ihal are free from material misstatèment, whether due to fraud or error. In preparing the financi81 statements, the truslees ar6 wponsible for assessing the charity's abillty to contlnue as a going concern, disclosing, as applicable. matters related lo going concem and using the going conGem basis of accounting unless the Iruslees either intend to liquidate the chadty or to ceas• operations. or have no realistic alternallve but lo do so. 10
The Beaverbrooks Charitable Trust Independent Auditor's Report to the Members of The Beaverbrooks Charitsble Trust(¢onllnued) Year ended 28 February 2025 Audltorfs responslbllltles for the audtt of the Ilnanclal stst•ments Our objectives are to obtain reasonable assurance about whether the finandal slatemenls as a whole are free from rnaterial misstalemenl, whether due lo fraud or error, and to issue an audilorfs report that in¢ludes our opinion, Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material mi5slatemenl when il exists. Misslalemenls can arise from fraud or error 2nd are considered material if, Individually or in the aggregate, they Could reasonably be expected to influence the economlG de¢i$ions of users taken on the basls of these financial statements. IrTegularilies, including fraud, are in3tanoes of non-complSance with laws and rogulalions. We design procedures in line wllh our responsibilities, outlined above, lo detect material misstatements In respect of irregularities. including fraud. The extent to which our procedu$ are capable ol detscts'ng irregularities, including fraud is detailed below.. Based on our understanding of the ¢h8rity we consKlefed those laws and regulations that hav8 a direct Impact on Ihe preparation ol the financial statements such as the Charities SORP, taxation and other legislation levant to the sector. We evaluated managamenl's incentives and opportunities for fraudulent manlpulalion of the financial slalemenls (including the risk of overide of conlrolsl and determined that the prin¢ipal nsks were related lo mangemenl bias in aceounllng estimates and judgemenlal areas of the financlal stalem8nts such as revenue recognition. We addressed this by our work on 8reas included, bul were not limited lo, analytical procedures, tssting of journal¥, assessment of judgements and èslimal8s, enquiry of controls etc. As part of an 8udit in accordance wrth ISAS IUKI, we exercise professional judgment and maintaln professlonal sceptl¢ism throughout the audit. We also.. Identify and assess tho rlsks of material mi3slatemenl of the financSal stslements. whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audll evidence that Is sufficient and appropriate lo provide a basis for our opinion. The rlsk of not deleeting a material misstatement rasultsng from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omlssions, misrepresentations, or the override of internal control. Obtain an understanding of Internal control relevant to the audit In order lo deslgn audit procedures that a appropriate in the circumstances, but not for the purpose of expressing an opinion on the 8ffe¢tsvene8s of the internal ¢ontrol. Evaluate the appropriateness of aGGounting policies used and the reasonableness of accounting estimate5 and ffjlaled disclosures made by the trustee5. Conclude on the appropnateness of the trustees. use of the going concem basis of accounting and. based on the audit evidence obtsined, whether a material uncertainty exists related lo events or conditions that may cast significant doubt on the charity's ability lo Continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report lo the lated disclosures in the financial statements or, if such disclosures are inadequate. to modify our opinion, Our conclusions are based on the audit evidence obtained up lo the dale of our auditor's report. However, future events or undilions may cause the charity lo cease to continue as a going concem. Evaluate the overall presentation, structure and content of the financial statements. including the disclosures, and whether the financlal statements present the underlying transactions and events in a manner that hleVe$ fair presentation. 11
The Beaverbrooks Charitable Trust Independent Audilorfs Report to the Member8 of The Beaverbrooks Charitable Trust fconllnu¢¢lJ Yoar onded 28 February 2025 We communicate wth those charged with govemance regarding. among other matters, the planned scope and liming of the audit and signific8nt audit flndlngs. including any significant deficiencies in internal control that we Idèntify during our 8udll. Use of our report This report is made solety to the charitys members. as a body, in accordance with section 144 of the Charities Act 2011 anta regulations made under sectlon 154 of that Act. Our audit work has been undertaken so that we might stale to the charity's members Ih08e matters we are required to slate to them in an audltorfs report and for no other purpose. To the fullest extent permitted by18w. we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audlt work, for thls report, or for the opinions we have fonned. Jacqueline Hyde 8A FCA {S8nior Stslutory Audltorl For and on behalf of John Potter & Harrlson Chartered accountants & statutory audltor 3A Cllfton Square Lytham St Ann&s Lanc8shlre FY8 5JP 3 September 2025 12
The Beaverbrooks Charitable Trust Statement of Financial Activities Year ended 28 February 2025 2025 Unrestricted funds Total fund$ Total funds 2024 Note In¢om• and endowments Donations and legacies Investment income 1,408,451 88,482 1,408,451 88,482 1.496,933 2.008,642 141,571 2,150,213 Total Income 1,496,933 Expendlture Exp8ndlture on charftable activitle8 Tolal •xpendlture 6,7 1.408,449 1,408,449 1,408.449 1,408,449 2,240.806 2,240,806 Net Incomel(exp•ndlturel and nol movomont In fund8 88,484 88,484 190,5931 Reconclllallon of fund8 Totsl funds brought foard Total fund• cariled fonvard 4,659,332 4,747.816 4,659,332 4,747,816 4,749,925 4.659,332 The stslemenl of financial acllvities Includes all gains and1088es recognised In the ye8r. All income and expenditure derive from continuing activities. Tho nots9 on pages 16 to 24 fom part of these ftnancial Btatgments. 13
The Beaverbrooks Charitable Trust Statement of Flnancial Position 28 February 202S 2025 2024 Not• Flxtd a88ets Tangible fixed assets Investments 11 350,000 12 4,322,100 4,672.100 3SO,OC4) 4,322,1C4J 4,672,100 Current 0880ts Cash at bank and in hand 75,716 Crodftorn: amounts falllng due wlthln on• y•ar N•1 curnnt 188•ts 14 12.788 112,7681 4.659,332 75,718 4.747,816 Total a880ts108• currfrnt Ilabllltlo• Fund• of th• eharlty Unrestricted funds 4,747,816 16 4,747,816 4,659,332 4,859,332 Total charlty fund• These flnanclal statements were approved by the board of tNStaès and aulhorised for Issue on 12 August 2025, and ar8 signed on behalf of th8 board by.. M l Adleslone OBE Chairman Thg nots8 on pag¢$ 16 to 24 forni part Of th•8e financlal statements. 14
The Beaverbrooks Charitable Trust Stat6mont of Cash Flow8 Year ended 28 February 2025 2025 2024 Nots Cash flows from op•ratlng actfvitles Net incornellexpendilurel 88,484 190.593} Adjustm&nts for.. Dividends, inter8St and rents from investments Cash generated from operations Net cash fromllused inl OFerating aclfvitl85 {88.482} 1141,5711 1232,1641 1232,1641 Ca8h flow8 from Investlng actlvltle8 Dividends. interest and rents from inve8lmenls Net cash from investing act1vle$ 88,482 88,482 141,571 141,571 Ngt Incroa8elldecr01801 In ca8h and ca6h equivalonts Cash and cash equlval•nts at beglnnlng of year Cash and cuh equlvalents at ond of yo•r 88,484 112,7681 75,718 190.5931 77.825 112,768) 13 Th• notes on pages 18 to 24 form part of thèsè financlal statement¥. 15
The Beaverbrooks Charitable Trust Note8 to the Financial Statements Y•ar ended 28 February 2025 General Infonnation The charity is a publi¢ benefit 8nlity and a registered charity in England and Wales and is unincorporated. The address of th8 principal office is Adele House, Park Road, St Annes-on-sea. FY8 1 RE, LancashI. Statgmgnt of compllan¢e These financial ststements hav8 b8en prepared in compliance wth FRS 102. 'Tha Flnancial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accoun15 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 ICharits'e$ SORP IFRS 102)} and the Charities Act 2011. Accountlng poll¢l88 Bas1¥ of prnparatlon The flnanclal statements have been prepaied on the historical cost basss, as modifièd by the revaluation of c8rtain financial assets and li8bililie$ and inveslmont properties measured al fair value through income or expenditure. The financlal statements are prepared in sterling, whlch 1$ the functional currèncy of the ènlty. Golng conc•m The charftys actlvili88, togéther wlth the factor8 Ilkely to affect Its futurè development, performance and position are set out in the Trustees, Report which also descrfb8$ the financial position of the charity includlng its Investm8nt9 and reserves pollcy. 11 is the intention of the directors of Beaverbrooks the Jewellers Limited to continue lo distribute 20% of the distributable profit of Beaverbrooks the J8weller$ Limlted to the charity. The charity's forecasts and projections, taking account of possible Changes in donatn3 and investment Sncome, show that the chanty should be able lo oper8te with tha Current level of reserves it has. After maklng enqulries. the Trustees have a reasonable expectation that the charlty ha8 adequate resources lo continué in operational existence for the foreseeable future, The Trustees, therefore, consider that the going concem assumption 15 an appfopriate basi8 on which to prepare these financial statements. 16
The Beaverbrooks Charitsble Trust Notes to the Financial Ststaments (¢onllnu8d) Year anded 28 February 2025 Accounting policies (contlnue<l) Judgements and key sourcgs of 08tlmatlon uncertainty In the application of the accountsng policies, which are described In note 3, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilib'8S that are not readily apparent from other sources. The eslimales and associa18d assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongolng basis. Revisions 10 8ccounling estimates 8re recognised in the period in which the estimate Is revised if the revision affects only that period, or in the period of the revision and future period5 if the revision affects both current and future periods. The Trustees do not consider the are any critical judgements or sources of estimation uncertainty requirlng dlsclosure beyond the accounting pollcles listed above. Income lax The Beaverbrooks Charitable Trust Is a registered charity and has no Ilabllity lo corporatlon tax on ils charitable aclivllies under the Corporation Tax Act 2010 Ichapter5 2 an¢J 3 of part li, section 466 onwards) or Section 256 of the Taxation for the Chargeable Gains Act 1992. to the 8xtent surpluses are applied to its charitable purposes. Fund accountlng Th8 charity holds only Unrestricted funds which 8r8 freely avallable lo use in tho fulfillment of tha Charity's oblectives Incomlng reBourc88 Income is recognised when the charity has entillemenl to th8 fvnds, any performance conditions attached lo the itemls) of Sncome have been mel, It is probablè that the income will be received and the amount can be MeasUd reliably. Income from Investment InMe is aocounled lor when earned. 17
The Beaverbrooks Charitable Trust Notes to the Financial Statements (contlnuedj Year ended 28 February 2025 A¢eounling pollcles f¢ontlnti Rosources gxpendod Expendire is recognised once there is 8 legal or conslru¢tive ObligaOn to make a payment to a third p8ty, It is probable that settlement will be required and the amount of the obligation can be measured reliably. Grant payments are accounted for onc8 the charity h8$ made an unconditional commitment to pay the grant and this is communicated lo the beneficiary or when the grant has been paid, whicheverls 6arfier. Where an award is conditional 8nd compliance is within the control of The Beaverbrooks Charitable Trust, the award Is not re¢ognised until the conditn5 are met. Where an award is conditional and outside the control of The 8eaverbrooks Charitable Trust, the award is recognised and accounted for in the same way 88 an unconditional award. Support costs are those fvnclions that assist the worf( of the charlty but do not dlrectly undertake charitable activities. Support $ts include governan¢e costs whSch support the ¢harlly's activities. No income or expenditure have been recognised for the In kind contributions provid8d by 8eav8rbrooks the Jewellers Limi18d on the grounds of materiality. Tanglblo 0080ts Tangible assets are initially recorded at cost, and subsequently staled al PAisI less any accumulated depreciation and impairment losses. Any tangible assets Carried al revalued amounts are recorded al the fair value al the dale of 18valuation less any subsequent accumulated depreciation and subsequent aeKumulated impairment Ios888. An Increase in the carying amount of an asset as a result of a revaluation, is recognised In other recognised gains and losses, unless il reverses a charge for impairment that has proviously been recognised as expendllure wilhln the statement of financial aclivilies. A decrease in the caTrying amount of an asset as a result of revaluation, is recognlsed in other recognised gains and losses, except lo which il offsets any previous revaluation galn, in which case the loss is shown within other reeognlsed galns and losses on the statement of financial activities. Invo8tmonts Social Investments Social Investment for whiGh fair valu8 can be measured reliably without undue cost or effort on an ongoing basis are measured al fair value annually th any change recognlgad in the statement of flnancial activities. Unlisted investments Unlisted investments are shown al cosl less any provislon for Impaimenl. Investments represented unlisted inveslmenls. at cost, in the share capital of Beaverbrooks the Jewellers Limited, a company registered in the United Klngdom. The Trust's Shareholder represents 20%. The Trustees a mindful of Iheir responsibilities in relation lo an Investment wlicy and engure that the pollcy addresses the needs of the charitable trust and Its beneficianes in the Short, medium and long term, taking into account the future needs of the ¢harity in terms of both capital and income. 18
The Beaverbrooks Charitable Trust Notss to the Financial Statements (conbfnuodj Year ended 28 February 2025 Accounting pollcies (contlnu•d) Impairmont of flxed a88et8 A review for indicators of impairment is carried out at each reporting date, with the recoverable amount b8ing estimated where such indicators exist. Where the Garrying value exceed5 the recoverabl8 amount. the asset is impaired accordingly. Prior impalTments are also reviewed for possible reversal at each repong date. For the purposes of impalrment lesting, when it is not possible to estimate the reGoverable amount of an individual asset, an estimate is made of the recoverable amount of th8 cash- generaung unit lo which the asset belongs. The cash-generaling Ltnit is the smallest identifiable group of assets that includes the asset and generates cash Inflows that largely independent of the cash inflows from other assets or groups of assets. For Impairment testing of goodwlll, the goodwlll acquired In a business combinatlon Is. from the acquisillon date, allocated to each of the cash-genorating units that afe expgcled to benefit from the synergies of the combination, irrespecbve of whether other assets or liabilities of the ¢hanty are assigned to those units. Flnanclal In•trum•nts A financial asset or a flnancial liability Is recognised only when th8 charity becomes a party to th8 conlraclual provisions of the in81rumenl. Basic financial instruments are initially recognised at the amount recelvable or payable including any related transaction ¢osts. Current assets and Current liabilities arè subsequently measured at the cash or other consideration expected lo be paKI or r1Ved 8nd not discounted. Debt Inslrumenlg are Subsequent measured at amortised cost. Where Investments In Shares 8re publicly traded or their falr value can otherwise b8 measured reliably, the investment is subsequently measured al falr value wth changes in fair value recognised in Income and expénditure. All other such inve3lm8nts are sUbsequenY measured al cost less impairment. Other financlal Instruments, Including derfvatfves, are Inllialty recognised al falr valua, unless payment for an asset is deferred beyond normal business temis or financed at a rale of interest that is not a market rate, in which case the asset is measured at the present value of the future Payments discounted at a market rate of in18rest for a simllar debt instrument. other financial instrumenls are subsequently measured al fair value, with any changes recognised in the Statement of linancial activities, with the exception of hedging instruments in designated hedging relationship. Flnanclal assets Ih8t are measured at cost or amortised Gosl are reviewed for objective evidence ol impalmient al th6 end of each reporting date. If there 15 objective evidence of impairment, an Impairment loss is recognised under the appropria18 heading in Ihe ststement of financial acllvlties in which the inillal gain was recognised. 19
The Beaverbrooks Charitable Trust Notes to the Financial Ststsmonts (¢4xelnuedJ Year ended 28 February 2025 Accounting polkle8 (conllnuedj Flnancial Instrumonts (¢onttnu For all equty instruments regardless of significance, and other financial assets that are individually signiflcant, these are assessed individually for imp8imient. Other financial assets are either assessed indlvidually or grouped on the basis of similar credit rlsk characteristics. Any wersals of Impairment ar8 recognised immediately, to the extent that thé reversal does not result in a carrying amount of the financial asset that exceeds what thè carrying amount would have been had the impairment not previously been regnIsed. Donatlon• ond lega¢l Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2024 Donatlon8 8eav8rbrooks tha Jewellers Limited donations Other donation$ 1,380,100 28,351 1,408.451 1.380.100 28,351 1,975.000 33.642 1,975,000 33,842 2,008,642 1.408,451 2,008,642 Inv08tment Sncomo Unrestricted Totol Fund• Unrestrlcted Totsl Funds Funds 2025 Fund8 2024 Dlvldend Income 88,482 88,482 141,571 141,571 Expendlture on charltabh actlvltlos by fund typ• Unre$lrlcted Total Fund8 Unrestrlcted Total Funds Funds 2026 Fund8 2024 Grants to institutions. Support costs 1,408,107 342 1,408,107 342 2.240,613 193 2,240,613 193 1,408,449 1,408,449 2,240,806 2,240,806 Expondliur8 on charltabh actlvltl08 by actlvlty typo Grant funding of activities Support costs Total fund• 2026 Totsl fvnd 2024 Grants lo insblutions. G0veMan M$ls 1,408.107 1,408,107 342 2,240,613 193 342 1,408,107 342 1,408,449 2,240,806 20
The Beaverbrooks Charitsble Trust Notes to the Financial Statomants (coniinu•dJ Year ended 28 February 2025 Analysls of grants 2025 2024 Grants to In8tltutlon8 Grants to institutions 1,408,107 1,408.107 2.240,613 Total grants 2,240,613 Stsff ¢o•ts The average head Gounl of employees during the year was Nll {2024.' Nill. No employee recelved employee beneffts of more than £60,000 durSng the year12024'. NIII. 10. TrustM r•mun•ratlon and &xpen808 As referred to in the Trustees, Report, Tho Beaverbrooks Chadlable Trust currently utllises the time of four employees of Beaverbrook5 the Jewellers Limited in order lo admlnlsler ils affairs. Beaverbrooks the Jewellers Limited does not charge the charity for th58 time since it Is nol practicable lo qualify their alloo8tion of time and hence salary cost. No Trustee has recelved any remuneration or expenses from the chanty during the current or previous year or had any expenses pald on their behalf. No employee has received any remuneration or 8xpenses from the charity during the current or previous year and accordingly no employee eamed in excess 01 £60,00012024.' £60,000) In the year. All $taff members Involved in the runnlng of the charity ar8 èmployees of Beaverbrooks the Jewellers Llmited and as such, their remuneration Is paid by that company12024'. same). 11. T•nglble Ilxed a88ets As al 28 February 2025 the social investment InGluded in freehold propety represents a propety used by Blackpool Carers Centre Limited for Ihelr charitable purposes. The historic cost al 28 February 2025 was £350,000 which is also consldered lo be the fair value a5 management do nol deem there lo be any other reliable eslimale for the fair value. 12. Inv•8tmonts 21
The Beaverbrooks Charltable Trust Notes to the Flnancial Statements (¢onllnu•d) Y•ar anded 28 Fabruary 2025 12. Inv88tments (¢ontlnued) Other invoslm•nts Cost or v•lu8tion At 1 March 2024 Addilh)ns 4.322.100 At 28 February 2025 Impalrnient At 1 March 2024 and 28 February 2025 Carrylng amount At 28 February 2026 At 29 February 2024 4,322,100 4,322,100 4,322,100 All Investments shown above are held at cost 13. Ca•h and cuh equlvalent• Ca8h and cash equivalents comprlse the lollowlng.. 2025 2024 Cash at bank and in hand Bank overdrafts 75,716 112,7881 112,7681 75,716 14. Crodftorn: amounts falllng due wlthln ono year 2025 2024 Bank loans and overdrafts 12,788 15. Anaty818 of charltable fund8 Unre8trlct8d fund• At 28 February 2025 At 1 Maich 2024 Income Expenditure General funds 4,659,332 1,496,933 11,408.44gi 4,747.816 Al 29 February 2 024 At 1 March 2023 Income Expenditure General funds 4,749,925 2,150,213 (2,240,806) 4,659.332 22
The Beaverbrooks Charitsble Trust Notes to the Flnan¢ial Statements f¢oniinu•d) Year ended 28 February 2025 16. Analysis of not assèts be¢en fund8 Unrestrlcted Tolal Funds Funds 2025 Tangible fixed assets Investments Current assets Credltors less than 1 year Net assets 350,000 4,322,100 75,716 350,000 4,322,100 75,718 4.747.816 4,747,816 Unrestricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Credllors less Ih8n 1 year Not a88el8 350,000 4,322,100 350,000 4,322,100 112,7681 4,859,332 112,768) 4,659,332 17. Flnanclal In8trumonts No 8ddib.onal diselosures rèquired In respect of flnanclal instruments. 18. Analy•l8 of change$ In not debt At At 1 Mar 2024 Cash flows 28 Fob 2025 Cash at bank and In hand Bank overdrafts 75,716 12,768 88,484 75,716 112,768) 112,768) 75,718 19. Other Ilnanclal cornmSlm•nts At 28 F8bruary 2025 th8 Trust had total outstanding commitments of £800,000 over the next four years. 23
The Beaverbrooks Charitable Trust Notes to tho Financial Statsments feontinu8dJ Year ended 28 February 2025 20. Related partle8 M Adleslone and A Blackburn who are Trustees of The Beaveibrooks Charitable Tnjst are also dlrectors of Beavérbrooks the Jewellers Limited, - Donallons rec&ivabl8 Beaverbrooks the Jewellers Limilad made donations to the charity amountsng to £1,380.100 12024.. £1,975,000) in the year. - Unllsled investrnents and income therefrom Income of £88.48212024.' £141,571) was re¢ognised in the year. representing dlvldends payable on the investments held in Beaverbrooks the Jewellers Llmited. The cost of the investmenl held Is shown in note 12. Expendlture Beav8rbrooks the Jewellers Limlled wtll bear the audSt fee of £3,600 {2024'. £3,480) for the audit of these financial statements. Beaverbrooks the JewelleTS Limited h8$ also borne the salary Cost8 of the employees of Beav8rbrook5 the Jewell8r8 Limited, who have incurred time on the adminislralion of The Beaverbrooks Charitable Trust in the year. Boaverbrooks the J8well8rs Limited made no recharge for costs lo The Beaverbrooks Charitable Trust in the year. - Related paty balance As at 28 February 2025. no amount 12024.. same} was owed by or lo The Beaverbrooks Charftsble Tfust lo Beaverbrooks the Jewellers Limited.
The Beaverbrooks Charitsble Trust Management InforTnatlon Year ended 28 February 2026 Tho followlng pago8 do not fomi part of tho Ilnanclal statomont•
The Beaverbrooks Charitable Trust Detalled Statement of Flnancial Activities Year ended 28 February 2025 Year ended 28.2.25 Year ended 29.2.24 Income and èndowments Donations and legacle8'. 8eaverbrooks the Jewellers Limited donatlon8 Other donations 1,380,100 28,351 1,975,000 33,842 Invostm•nt Income Dlvidends 88,482 141,571 Total Incom• 1,496,933 2,150,213 Expondlture Grant• to In3tltutlon8 Ac¢8s8 Sport AKS Foundation Ambers Army Better Wodd Charty Ltd Better Wodd Charrty18rael Blackpool Carers Blackpool FC Community Trust Blue Skies Hospitals charitab Fund Bn08 Yisroel School Manchester B'nai B'rith Hillel Foundation (UJSI British Israel Communication & Research Centre Brit18h Israel Trade Union Dialogu8 British Red Cross British School Watchmaking Broughton Jewish Primary School Business in the Community Camp Simcha Caribbean & African Health Network Chai Cancer Care Chetham's School of Music Chief Rabbinate Trust 5,000 5,000 7,500 5,000 25,000 7,500 28,000 20,000 10,000 s,000 5,000 5,000 10,000 15,000 15,000 10,000 18,600 7,500 10,000 15,000 10,000 25,000 25,000 28,000 20,000 5,000 5,000 5,000 s,000 6,000 15,000 11,000 7,500 7,500 10,000 12,500 - carried forward - 172,500 254,000
The Beaverbrooks Charitable Trust Detalled SL*ment of Flnanclal Actlvllles Year ended 28 February 2026 Year ended 28.2.26 Year ended 29.2.24 Grants to Ingtitutlon8 (continued - brought forward - 172,500 254,CK)O Community Security Trust Council of Christians and Jews Eshel UK Friends of Colel Chabad Fylde Rugby Community Foundation Gingerbread Grièf Encounter Hale Adult Hebrew Education Trust Halle Concerts Society Henshaw's Society for the Blind Hershel Wei88 Children's Centre Holocaust Educatlonal Trust Holocaust Survivors, Friendshlp A88oclatlon Jewi8h Chlld'8 Day Jewish Futures Trust Ltd Jewi8h L8adership Council Jewish Women's Aid JnetiC8 Kisharon Langdon Labour Friends of18rael Labour Together Ltd LCCC Foundation Leeds Hospital Charty LGBT Foundation Llmmud London Jewish Family Centre Magen David Adom UK Maggies Magic Club Madhlo Manchester Foundation TNst Charity Manthester Jewish Museum Manchester MesiV(a Jewish Grammar School Mar(ia & Arvjrew Brown Charitable Trust Mekimi Migdal Emunah Mustard Tree 30,000 35,000 5,000 32,500 s,000 5,000 5,000 18,500 5,tX)O 5.000 5,000 5,000 5,000 5,000 10,000 10,000 10,000 30,000 50,000 10,000 10,000 5,000 5,000 10,000 10,000 10,000 10,000 10,000 30,000 50,000 10,000 10,000 10,000 10,000 10,000 5,(J)O 10,000 10,000 5,000 20,000 50,000 10,000 10,000 25,000 10,000 20,000 10,000 5,000 12,500 10,000 5,(XlO 2¢)J,000 200,000 5,000 15,000 30,000 15,000 - carried forward - 7C6.5¢YJ 921,500
The Beaverbrooks Charitsble Trust Detsiled Statement ol Financlal Actlvltles Year ended 28 February 2025 Year ended 28.2.25 Year ended 29.2.24 Grants to Instltutlons (continued - brought forward - 706,500 921,500 National Holocau8t Centre North Cheshire Jewish Primary School Trust NSPCCIChildline ORT UK Prevent Breast Cancer Progressive Judaism Rainb¢)w Trust Children's Charlty Retail Trust Ronald McDonald House Charities {UK> Rosemere Cancer Foundation Royal Northem College of Mu81G Royal Exchange Theatre Salford Lads, & Girfs, Club Save a Child's Heart Seashell Trust Seed South Manchestgr Synagogue Special Spirits St Ann's Hospice Streetllfe Trust The Anne Frank Trust UK The Boaihouse Youth Ltd Th8 Factory Trust The FED The Focus Foundation The Friendship Circle The Henry Jackson Society The Jacob Foundation The King's Trust rfhe Prince'$ Tru8t) The Langdon Foundation The Science Museum The Universrty of Manchester Re-write Cancer The Work Avenue Foundation TMim8i Lev School Triple C Unit8d Jewish Israel Appeal Variety- The Children's Charity Withington Girls, School World Jewish Relief 5,000 10,000 5,000 50,000 35,000 5,000 10,C(IO 5,000 10,000 10,000 10,000 5,000 8.750 50,0(YJ 5,O¢J) 12,500 10,000 5,000 5,000 5,000 10,000 50,000 7,500 10,000 10,000 25,000 50,000 250,000 10,000 15,000 10,000 92,460 7,500 7,500 5,000 31,250 62,500 5,000 20,000 37,500 5,000 5,000 5,CQO 40,000 10,000 75,000 5,000 50,000 10,000 27,500 20,000 20,000 - carried forward - 1,096,960 1,806,500
The Beaverbrooks Charitable Trust Delalled Statement of Flnanclal Activities Yoar ended 28 February 2028 Year ended 28.2.25 Year ended 29.2.24 Grants to Instltutlons {contlnu8d) - brought forard- 1.098,960 1,8(K,500 Yad Vashem YrD m)e Helpline other grant8 les$ than £5,000 5,000 10,000 5,000 419.113 308,147 1,408,107 2,240,613 Govemanco co8t• Bank charge8 342 342 193 Total oxpondltur• 1,408,449 2.240,808 N•t Incomolexpendltura and net movemant In lund8 88.484 (90,693)