THE ALAN BRENTNALL CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Charity no: 1153950
THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
CONTENTS
Pages
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1 Legal and administrative information
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2-3 Report of the trustees
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4-6 Report of the auditors
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7 Statement of financial activities
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8 Balance set
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9-11 Notes forming part of the financial statements
THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
LEGAL AND ADMINISTRATIVE INFORMATION
Constitution
The Alan Brentnall Charitable Trust is a registered charity governed by its Charity Constitution. Charity number 1153950 (registered 25 September 2013).
Trustees
The trustees serving during the period and since the year end were as follows:
R F Lander Jane Dawson
Principal office
Cathkin Nelson Road Forres Moray IV36 1DR
Auditors
Mercer & Hole LLP 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
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THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2021
REPORT OF THE TRUSTEES
The Trustees present their report together with the financial statements of the charity for the year ended 31 March 2022
Legal and administrative information set 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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)),
Structure, Governance and Management
The charity is constituted under a trust deed dated 1 September 2013.
New Trustees are recommended by existing Trustees. Induction training is provided for all new Trustees, where appropriate, and all Trustees are encouraged to 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-today operations of the charity.
A summary of related party transactions is set out in note 8 to the financial statements.
Risk 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 poverty 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 charity’s aim, objectives and future developments.
Achievements and Performance
The trust assets generated investment income of £105,186 during the year and an increase in the value of quoted investments of £55,455 after accounting for realised gains of £84,939.
Grant making policy
The Trustees make grants individuals and registered charities that operate in accordance with the objects of the Trust. These are made as and when considered appropriate and when funds permit. The Trust made grants of £112,000 in pursuit of its objectives.
Financial review
The incoming resources used for the period are set out on page 7. The increase in funds for the year amounted to £59,887.
Reserves policy
The accumulated funds at 31 March 2022 were £4,283,190 all of which related to unrestricted funds. It is the policy of the Charity to maintain unrestricted funds, which are free reserves of the charity. This provides sufficient funds to fund future contributions to support trust objectives and to cover management, administration and support costs.
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THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022 REPORT OF THE TRUSTEES (CONTINUED) The Trustees, policy is lo invest the resources of the trust in bank accounts and in Quoted Investments. Plans for future periods The officer5 do not anticipate that there will be any fundamental change in the development of the charity's operations during the coming year. TrustOgs' Responsibilititss In Relation to the Flnanclal Statements The trustees are responsible for preparin9 the Trustees. Annual Report and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), The law applicable lo charities in England & Wales requi$ the Iruslees to prepare flnan¢ial statements for each financial year whi¢h give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial slatemenls, the Iruslees are required to". select svilable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019 IFRS 102),, make judgements and eslimales that are reasonable and prudent., stale whether applicable accounting stsndards have been followed, subject lo any material departures disclosed and explained in the financial slatemenls., prepare the financial statements on the going concern basis unless it is inappropriate lo presLtrne that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial Statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed, They are also SponSible for safeguarding the assets of the charity and hence ft)r taking reasonable steps for the prevention and detection of fraud antj other irregularities. Audltor8 The schemes, auditor, Mercer & Hole. incorporated on 1 October 2022 to become Mercer & Hole LLP. The Iruslees have consented to treating the incorporation of Mer¢er & Hole LLP as a conlinualion of the existing audit arrangement. By order of the trustees.. Tfustee R F Lander Date Page 3
THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES
We have audited the financial statements of The Alan Brentnall Charitable Trust (the ‘charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, balance sheet and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom
Generally Accepted Accounting Practice; and have been prepared in
accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, 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 concern
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 is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described 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 auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (CONTINUED)
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any
- material respect with the trustees’ report; or the charity has not kept
adequate accounting records; or
the financial statements are not in agreement with the
accounting records and returns; or we have not received
all the information and explanations we require for our
audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement [set out on page …], the trustees are responsible 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 that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial 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 obtain 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 not a guarantee that an audit conducted in accordance with ISAs (UK) 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 instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Explanation as to what extent the audit was considered capable of detecting irregularities, 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 charity that were contrary to applicable laws and regulations, including fraud.
We evaluated management's incentives and opportunities for fraudulent 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 posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates.
Audit procedures performed by the engagement team included:
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discussions with management, including considerations of known or suspected instances of non- compliance with laws and regulations and fraud;
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gaining an understanding of management's controls designed to prevent and detect irregularities; and
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identifying and testing journal entries.
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THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (CONTINUED)
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 FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-thefi/description-of-the-auditor%E2%80%99s-responsibilities-for.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 LLP, Statutory Auditor Chartered Accountants 420 Silbury Boulevard Central Milton Keynes MK9 2AF
………………………………… Date 20 December 2022 Mercer & Hole LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
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THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
| Note Income Incoming from other trading activities Investment income 2 Total Income Expenditure Costs of raising funds Investment management costs 3 Expenditure on charitable activities 10 Other expenditure 4 Total Expenditure Other recognised (losses)/gains: (Losses) Gains on investment assets Net (Expenditure)/Income Net Movement in Funds for the Year Balances Brought Forward at 1st April 2021 Balances Carried Forward at 31 March 2022 |
Unrestricted 2022 £ 105,186 105,186 14,338 112,000 3,800 130,138 - 84,839 59,887 59,887 4,223,303 4,283,190 |
Unrestricted 2022 £ 105,186 105,186 14,338 112,000 3,800 130,138 - 84,839 59,887 59,887 4,223,303 4,283,190 |
Funds 2021 £ 78,847 78,847 12,294 66,000 3,600 81,894 - 1,276,286 1,273,239 1,273,239 2,950,064 4,223,303 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 9 to 11 form part of these financial statements
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THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022 BALANCE SHEET Note 2022 2021 Fixed Assets Quoted Shares at Valuation 4,183,982 4,128,527 Current Assets Cash at bank and in hand 102 089 102,089 106.684 Creditors: Amounts falling due within one year 6 7,476 7,313 Net current assets 99,208 94,776 Total assets less current1Sabilities 4,283,190 4,223,303 Creditots.. Amounts falling due after more than one year Net Assets The funds ofthe charity: Unreslricled income funds Revaluation reserve 3,387,610 895 580 3,847,800 Approved the Board of Trustees and signed on its behalf by Trustee i& 7 Date R F Lander The notes on pages 9 10 1 form part of these financial statements Page 8
THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policies
The financial statements have been prepared in accordance 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) (effective 1 January 2019) -(Charities SORP (FRS 102)),
The Alan Brentnall Charitable Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
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 donations for unrestricted purposes is recognised in the statement of financial activities (SoFA) when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities. Income must only be recognised in the accounts of a charity when all of the following criteria are met:
•Entitlement- control over the rights 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 monetary 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
Investment income is included when receivable by the charity.
Expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, which cannot be recovered.
Fixed asset investments
Listed investments are stated at 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 accounting
Funds held by the charity are unrestricted funds held for the furtherance of the objectives of the charity.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting fr 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.
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THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS (Continued)
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, With the exception of listed investments.
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.
| 2. Investment income 2022 £ Bank interest - Dividends 105,186 105,186 3. Investment Management Costs 2022 £ Investment management fees 14,338 14,338 4. Other expenditure 2022 Governance costs £ Auditor’s remuneration 1,800 Accountancy Fees 2,000 3,800 5. Fixed Assets - Investments Listed Investments at market value £ Carrying value as at 1 April 2021 4,128,527 Additions to investments at cost 1,035,369 Disposals at carrying value (1,064,753) Net (loss) gain on revaluation 84,839 Carrying value as at 31 March 2022 4,183,982 |
2021 £ 1 78,846 |
||
|---|---|---|---|
78,847 |
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2021 £ 12,294 |
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12,294 |
|||
2021 £ 1,800 1,800 |
|||
3,600 |
|||
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THE ALAN BRENTNALL CHARITABLE TRUST FOR THE YEAR ENDED 31 MARCH 2022
NOTES TO THE FINANCIAL STATEMENTS (Continued)
6. Creditors: amounts falling due within one year
Accruals: Brokers Fees Audit Fees Accountancy
| 7. Unrestricted funds At 31 March 2021 £ Movement in funds for the period 4,223,303 |
Incoming resources £ 105,186 |
Outgoing resources £ (130,138) |
Gains and Losses £ 84,839 |
At 31 March 2022 £ 4,283,190 |
|---|---|---|---|---|
8. Related parties
R F Lander received £2,000 (2021: £1,800) for work done for the charity in his professional capacity as an accountant.
9. Staff and Trustees’ costs
Trustees’ remuneration was nil during the financial year (2021: £nil). No re-imbursement of expenditure was paid to the trustees. There were no employees during the year.
10. Costs of Charitable Activities
| Grants to Individuals and institutions | 2022 £ 112,000 |
2021 £ 66,000 |
|---|---|---|
During the year to March 2022 the Trust made distributions of £10,000 to Belper Town Juniors Football Charity, £15,000 to the International Organ Festival Society Ltd, £5,000 to Criminon UK, £3,000 to Save the Children Covid Appeal, £10,000 to Derby City Mission, £10,000 to The Guide Dogs for the Blin , £10,000 to Northleigh House School, £10,000 for DEC Ukraine , £10,000 to Derby & Burton Hospitals Charity, £15,000 for Medical Expenses for an individual and £14,000 to several individuals for education
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 MacIntyre, £5,000 to Royal Hospital for Neuro Disability, £5,000 to ERIC, £5,000 to Hope City Furniture, and £21,000 in total to several individuals for education.
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