Charity Registration No. 1149526
BRAMPTON CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
BRAMPTON CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number
Principal address
Independent examiner
Mr Michael Gerald Freedman Mr Bernard Canetti Mrs Pamela Canetti Ms Sophie Canetti
Mr Raphael Canetti
1149526
High Carrs Barnet Lane Elstree Hertfordshire WD6 3QZ
Michael Wechsler
(Appointed 2 September 2019)
(Appointed 2 September 2019)
BRAMPTON CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 8 |
BRAMPTON CHARITABLE TRUST
TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2020
The trustees present their report and financial statements for the year ended 31 July 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The object of the charity is to apply the capital and income of the Trust Fund towards such charitable institution or institutions as the Trustees shall in their absolute discretion determine. Donations are received and a number of mainly small value donations were made to a variety of UK and International Registered Charities. There have been no changes in objects or policies during the period, and no changes are anticipated in the future.
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit' .
Achievements and performance
The performance of the Charity in the year is detailed on Page 4 of the Accounts. The charity has continued to make grants to various institutions in accordance with its objectives.
Financial review
It is the policy of the Trustees to maintain free reserves at a level which is considered adequate to provide sufficient funds to cover ongoing management and administration costs and to be in a position to respond to applications for grants as and when they may arise. At the year end the charity held free reserves of £30,108 (2019: £ 1 25,067).
The trustees continue to hold the capital and interest of the the trust fund to pay or apply the whole thereof for charitable purposes, charitable institutions or charitable foundations or individuals in such a manner and in such proportions as the trustees may from time to time in their absolute and uncontrolled discretion determine.
Structure, governance and management
The Charity was formed under a Trust Deed dated 11 July 2012. The Trustees administer the Charity on a day to day basis making whatever decisions they consider necessary to enable it to meet its objectives.
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
The trustees who served during the year and up to the date of signature of the financial statements were:
Mr Michael Gerald Freedman Mr Bernard Canetti Mrs Pamela Canetti Ms Sophie Canetti (Appointed 2 September 2019) Mr Raphael Canetti (Appointed 2 September 2019)
The trustees r eport was approved by the Board of Trustees.
Mr Bernard Canetti
Trustee Dated: 11 February 2021
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BRAMPTON CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRAMPTON CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of Brampton Charitable Trust (the charity) for the year ended 31 July 2020.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Michael Wechsler
Dated: 23 February 2021
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BRAMPTON CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2020
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2020 | 2019 | ||
| Notes | £ |
£ | |
| Income from: | |||
| Donations and legacies | 2 | 42,500 | 70,611 |
| Investments | 3 | 143 | 165 |
| Total income | 42,643 | 70,776 | |
| Expenditure on: | |||
| Charitable activities | 4 | 137,602 | 79,788 |
| Net expenditure for the year/ | |||
| Net movement in funds | (94,959) | (9,012) |
|
| Fund balances at 1 August 2019 | 125,067 | 134,079 | |
| Fund balances at 31 July 2020 | 30,108 | 125,067 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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BRAMPTON CHARITABLE TRUST
BALANCE SHEET
AS AT 31 JULY 2020
| Notes Current assets Cash at bank and in hand Net current assets Income funds Unrestricted funds |
2020 £ 30,108 |
£ 30,108 30,108 30,108 |
2019 £ 125,067 |
£ 125,067 125,067 125,067 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 11 February 2021
Mr Bernard Canetti Trustee
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BRAMPTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5 Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of the financial activities to which it relates.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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BRAMPTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2020 | 2019 | |
| £ | £ | |
| Donations and gifts | 42,500 | 70,611 |
| Investments | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2020 | 2019 | |
| £ | £ | |
| Interest receivable | 143 | 165 |
3 Investments
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BRAMPTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020
4 Charitable activities
| Grant funding of activities (see note 5) Share of support costs (see note 6) Grants payable Grants to institutions: Quilliam HaMakom Chance for Nepal Wilderness Foundation St Mungos Zimbabwe a National Emergency (ZANE) Jewish Care Woodland Trust UN Watch (USA) Leukaemia UK Water Aid Noah's Ark Cyclone Idai Campaign Agianst Anti Semitism Or Halev Equal Justice initiative Young Minds Place2Be Ikamva Labantu Charitable Trust Family Action Compassion in World Farming Corona Care Challenge WWF Other < £3,000 |
2020 £ 137,508 94 137,602 2020 £ 3,000 10,500 - 3,000 - - 12,500 4,000 - - 10,000 - - 5,000 12,000 8,331 4,000 4,000 5,000 16,000 3,000 3,000 20,625 13,552 137,508 |
2019 £ 79,698 90 79,788 2019 £ 3,000 6,000 3,000 3,500 5,000 2,000 12,500 2,000 2,471 2,000 6,000 2,696 2,000 5,000 11,000 7,695 - - - - - - - 3,836 79,698 |
|---|---|---|
5 Grants payable
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BRAMPTON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020
6 Support costs
| Bank charges Analysed between Charitable activities |
2020 £ 94 94 94 |
2019 £ 90 90 90 |
|---|---|---|
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
There were no employees during the year.
9 Related party transactions
Donations of £ 42 ,0 00 (201 9 : £ 7 0,000) were received from Brampton Educational Services Limited, a Company in which some of the Trustees are Directors.
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