THE ALAN BRENTNALL CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Charlty no: 1153950 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 CONTENTS Pages Legal and administrative information Report of the trustees 44 Report of the auditors Statement of financial activities Balance sheet 9-11 Notes forming part of the financial statements THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 LEGAL AND ADMINISTRATIVE INFORMATION Constitutlon The Alan B￿nIn211 Charitable Trust is a registered charity governed by its Charity Constitution. Charity number 1153950 Iregislered 25 September 20131. Trustse8 The trustees serving during the period and since the year end were as follows.. R F Lander Jane Dawson Prlnclpal offlce Calhkin Nelson Road Forres Moray IV36 1DR Audltors Mercer & Hole Chartered Accountants 420 Silbury Boulevard Central Milton Keynes MK9 2AF Bankers Natwest Bank Milton Keynes (A) Branch 501 Silbury Boulevard Saxon Gate East Milton Keynes MK9 3ER Page 1 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 REPORT OF THE TRUSTEES The Tnjstees present their report together with the financial statements Of the charity foi the year ended 31 March 2021 Legal and administrative information sel out on page 1 forms part of this report. The financial statements comply with the Charities Act 2011, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Fir>ancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191- (Charities SORP IFRS 102)), strudure, Goveman¢g and Management The chanty is constituted under a trust deed dated 1 September 2013. New Trustees a￿ recommended by existing Trustees. Induction training is provided for all new Trustees, where appropriate, and all Tru$lees are encouraged lo attend courses and conferences that would benefit them as Trustees. The Trustees have full investment powers and authority for the charity and investment decisions have been made in accordance with the Trustees wishes during the year. The Trustees manage the day-to- day operations of the charity. A summary of related paty transactions is Set out in note 7 to the financial statements. Rlsk Policy The Trustees have taken steps to identify the major risks to which the charity is exposed and systems have been established to mitigate those risks. Objectives and Activities The objectives of the charity are the relief of povety and hardship and the provision of education. The principal activity was the management of the assets of the charity to provide optimum funding to achieve the above objectives. The Trustees confirm that they have referred to the guidance contained In the Charity Commissions general guidance on public benefit when reviewing the Gharity's aim, objectives and future developments. Achievements and Performance The trust assets generated investment income of £78,847 during the year and an increase in the value of quoted investments of £1,276,286 after including realised losses of £110.934. Grant maklng pollcy The Trustees make grants to individuals and registered charities that operate in accordan￿ with the objects of the Trust. These are made as and when considered appropriate and when funds permit. The Trust made grants of £66,000 in pursuit of ils objectives. Flnanclal revlew The incoming resources used for the period are sel out on page 7. The increase in funds for the year amounted to £1.273,238. Reserves policy The accumulated funds at 31 March 2021 were £4.223,303 all of which related to unrestricted funds. It is the policy of the Charity lo maintain unrestricted funds. which are free reserves of the charity. This provides sufficient funds to fund future contributions lo support trust objectives and to cover management. adminislralion and support costs. Page 2 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 REPORT OF THE TRUSTEES {CONTINUED} The Trustees, pollcy is lo invest the resources of the tsusl in bank accounts and in Quoted Investments. Plans for future perlod$ The Officers do not anlicipale that there will be any fun(lamenlal change in the development of the charity's operat￿nS during the coming year. Trustees, Responsibilitiès In Rglatlon to the Flnancial Statempnts The trustee5 are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United kn'ngdom Accounting Standards (United Kingdom Generally Accepted Accounb"ng Pracb"cel. The law applicable to charities in England & Wales requires the Iruslees lo prepare financial ststements for each financial year which give a true and fair view of the stale of affairs of the harity and ol the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees afe required to.. • select suilabie accounting pollcles and then apply them consistently., observe the methods and principles in the Charities SORP 2019 IFRS 1021., make judgements and eslimales that are reasonable and prudent., slate whether applicable accounting stsndards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial ststemenls on the going concern basis unless ft is inappropriate trj presume that the charity will conlim1 e in business_ The trustees are responsible for keeping proper accounting records that di$dose with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the Charits'es Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible lor safeguarding the assets ol the charity and hence for taking reasonable steps for the prevention and detectltsn of fraud and other irregularities. Auditors The auditors, Mereer & Holè. will be proposÈd for fe-appoinlment By order of the trustees.. Trustee R F Lander Date ly JD2L Page 3 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITORS REPORT TO THE TRUSTEES Opinion We have audite(i the financial statements of The Alan Brentnall Charitable Trust Ilhe 'charity'l for the year ended 31 st March 2021 which comprise the statement of financial aclivilies, balance sheet and notes to the financial slatemenls, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally AC￿pted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the stste of the charity's affairs as at 31st March 2021, and of its incoming resources and application of resources, for the year then ended.. have been properfy prepared in accordants with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordan￿ with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independerbt of the charity in accordan￿ with the ethical requirements that are relevant to our audit of the financial slalements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concgrn In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not identified any material uncertainlres relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilit￿S of the trustees with respect to going concern are desGribed in the relevant sections of this report. other information The other information comprises the information included in the trustees annual report, other than the financial statements and our audilorfs report thereon. The trustees are responsible for the other infomiation contained within the anr+ual report. Our opinion on the financial statements does not cover the other information and, except lo the exlenl othe￿iSe explicitly slated in our report. we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is maler¢ally inconsislenl with the financial statements or our knowledge obtained in the ourse of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required to determine whether this gives rise to a material misststemenl in the financial statements themselves. If. based on the Work we have performed, we conclude that there is a material misstatement of this other infomiation, we are required lo report that faGt. We have nothing to report in this ￿gard. Page 4 THE ALAN 8RENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (CONTINUED) Matters on whlch we are required to report by exception We have nothing to report in respe¢t of the following matters in relation to which the Charities (Accounts and Reportsl Regulations 2008 require us lo report to you if, in our opinion.. the informatson given in the financial statements is inconsistent in any material respect with the trustees, report., or suffi¢ienl accounting records have not been kept.. or the financial ststements are not in agreement with the accounting records.. or we have not retsived all the information and explanation5 we require for our audit. Responsibilities of trustees As explained more fvlly in the trustees. responsibilities statement set out on page 3, the trustees are responsible for the preparation of financial stslemenls which give a true and fair view, and for such inlemal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misslatemenL whether due lo fraud or error. In preparing the financial statement5, the trustees are responsible for assessing the charity's ability to continue as a going Concern, disclosing, as applicable, matters Telated to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or lo cease operations, or have no realisti¢ alternative but to d0 50. Audltor's responslbllltles for the audlt of the tlnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to oblain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is nol a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instsnces of non-compliance with laws and regulations. We design pro¢edures in line with our responsibilities, outlined above, lo detect material misstatements in respecl of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities. including fraud. is detailed below. Explanation as to what extentthe auditwas consldered capable of detecting irregularitie5, Including fraud We gained an understanding of the legal and regulatory framework applicable to the charity and the environment in which it operates and considered the risk of acts by the charrty that were contrary to applicable laws and regulations. including fraud. We evaluated management's incentives and opportuntties for fraL¢dulent manipulation of the financial statements and the financial report (including the risk of override of controls). and determined that the principal risks were related to posling inappropriate entries in¢luding journals to overstate revenue or understate expenditure and management bias in accounting estimates. Page S **THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021** ## **INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (CONTINUED)** Audit procedures performed by the engagement team included: - discussions with management, including considerations of known or suspected instances of non-compliance with laws and regulations and fraud; - gaining an understanding of management's controls designed to prevent and detect irregularities; and - identifying and testing journal entries. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.orq.uk/Our-Work/Audit/Audit-andassurance/Standards-and-guidance/Standards­ and-q u id ance-for-a ud ito rs/ Auditors-responsibilities-for -aud it/Descri ption-of-aud itors-respon sibi I ities­ fo raud it. aspx. This description forms part of our auditor's report. ## **Use of our report** This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Mercer & Hole, Statutory Auditor Chartered Accountants 420 Silbury Boulevard Central Milton Keynes MK9 2AF Date 26 January 2022 _Mercer_ & _Hole is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006._ Page 6 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT Unrestricted Funds Note 2021 2020 Income Incoming from other trading activities Donations and legacies Investment income 2,000,000 64,563 78,847 Total Incom¢ 78.847 2,064,563 Expenditure Costs of raising funds Investment management eosts Expenditure on charitable activities Other expendrf(L¢re 12,294 66,000 3,600 7.085 74.000 3.780 11 Total Expenditure 81,894 84,865 Other recognised gainsl{losesl: Gainslllossesl on investment assets 856 737 Net IExpendFtureylncome 1,273,239 1.122.961 Net Movement in Funds for the Year 1 ,273,239 1.122,961 Balances Brought Forward at 1st Aprll 2020 2,950.064 1,827,103 Balances Carrled Fotward at 31 March 2021 The statement of financial aclivitses includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing aclivilies. The notes on pages 9 to 11 fom part of these financial statements Page 7 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 BALANCE SHEET Note 2021 2020 Fixed Assets Quoted Shares al Valuation 4,128.527 2,888,627 Current Assets Debtor5 Cash al bank and in hand 102 089 102.089 67,570 Creditors: Amounts falling due within one year 7,313 6,133 Net currènt assets 94,776 61,437 Total assets les5 current Ilabllltles 4.223,303 2.950,084 Creditors.. Amounts falling due after more than one year Net A$$ets The funds of th¢ Charity: Unreslricled income funds Revaluation reserve 3,847,800 3.507,335 Approved the Board of Trustees and signed on ils behalf by Trustee Dale / RFLan The notes on pages 9 to 11 form part of these financial Statements Page 8 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 3114lARCH 2021 NOTES TO THE FINANCIAL STATEMENTS 1. Ae¢ounting Policies The financial slatemenls have been prepared in accoTdance with 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 1 02} leffeclive 1 January 20191 _ICharities SORP IFRS 10211, The Alan Brentnall Chaiitable Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise staled in the relevant accounting policy nolelsl. The Trustees have taken advantage of the exemption in FRS102 Section 1A, Update Bulletin 1, from including a cashflow statement in the financial statements on the grounds that the organisation is small. Income Donations and legacies Voluntary income from dortations for unreslricled purposes is Tecognised in the statement of financial activities ISOFAI when a transaction or other event results in an increase in the charity'5 assets or a reduction in its liabilities. Income must only be recognised in the accounts of a charity when all of the following criteri8 are met.. .Enlillement- control over the rtghts or other access to the economic benefit has passed to the charity. .Probable- it is more likely than not that the economic benefits associated with the transaction or gift will flow to the charity. .Measurement- the monetsry value or amount of the income can be measured reliably and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. Investment income 5nveslment income is included when receivable by the charity. Expenditure Expenditure is included in the Statement of Financial Activities on an accruals basis. in¢lusive of any VAT, which cannot be ￿coVered. Fixed asset Investments Listed investrnents a￿ stated al market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. Fund aecountlng Funds held by the charity are unrestricted funds held for the furtherance of the objectives of the charity. Credltors and provlslons 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 ests'maled reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 9 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 NOTES TO THE FINANCIAL STATEMENTS Icontinued) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic rinancial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value. with the exception of listed investments. Going concern Al the time of approving the financial statements, the trustees have a reasonable expectation that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concorn basis of accounting In preparing the financial slatemenls. Investment income 2021 2020 Bank interest Dividends {151 Investment Management Costs 2021 2020 Investment rnanagemenl fees 12 294 Other expenditure 2021 2020 Governance costs Auditor's remuneration Accountancy Fees 1,800 1,980 Fixed Assets - Investments Listed Investments at market value Carrying value as at 1 April 2020 Additions to investments at cost Disposals al carrying value Net {10ssI gain on revaluation Carrying value a5 at 31 March 2021 2.888,627 951,013 1987,3991 1276 286 Debto 2021 2020 Income Tax Recoverable Pa9e10 THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021 NOTES TO THE FINANCIAL STATEMENTS (Continued) Creditots: arnounts falling due within one year 2021 2020 Accruals_' Brokers Fees Audit Fees Accountan 3,393 1,920 100 2,413 1,920 1800 Unrestricted funds At 31 March 2020 Incorning resources Outgoing resourcos Gain5 and Losses At 31 March 2021 Movement in funds for the peri¢Jd 2 950 064 1276 286 4 223 303 Related partios R F Lander received £1,80012020.. £1,800} for work done for the charity in his professional capacty as an awounlanl. 10. Staff and Trustee5' costs Trustees. remuneration was nil during the financial year 12020.. £nill. No re-imbursement of expenditure was paid to the trustees. There were no employees during the year. 11. Costs of Charltable Actlvltles 2021 2020 Grants lo Individuals and institutions During the year to March 2021 the Trust made donations of £10,000 to The Trussell Trust. £10,000 to Newlife Charity, £10,000 to Maclntyre, £5,000 lo Royal Hospital for Neuro Disability, £5.000 to ERIC, £5,000 lo Hope City Fumiture, and £21,000 in total to several individuals for education. During the year to March 2020 the Tru51 made distributions of £7,000 to Derbyshire Children'5 Holiday Centre, £12,000 to the International Organ Festival Society Ltd. £10.000 to Stonebridge City Farm, £10,000 to Emmanuel School (Derby) Ltd, £10,000 to Derby City Mission £10.000 to Awafd5 for Young Musicians, £5,000 to The Trussell Trust and £10,000 to Dety & Burton Hospitals Charity. Page 11