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2023-02-28-accounts

REGISTERED CHARITY NUMBER: 1155363

THE BROOKING

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

Hopper Williams & Bell Limited Chartered Accountants Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR

THE BROOKING

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

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Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 12
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THE BROOKING

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 28 FEBRUARY 2023

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TRUSTEES A Bishop
P Bonnici-Waddingham (resigned 7.9.2022)
L Hockley
C O'Sullivan
R Hurtley
PRINCIPAL ADDRESS The Brooking
Andover Road
Whitchurch
Hampshire
RG28 7RL
REGISTERED CHARITY NUMBER 1155363
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Page 1

THE BROOKING

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023

The trustees present their report with the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Public benefit

The Trustees confirm that they have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in relation to public benefit.

Volunteers

The charity does not currently retain volunteer support although this is planned to change over the coming years. Trustees are wholly responsible for operational and administrative duties and ensure the charity to maintained on a day-to-day basis outside of the grant project outlined in the following section.

The trustees continue to review and implement policies in support of the organisational model.

ACHIEVEMENT AND PERFORMANCE

The charity continued with activities in line with the grant funding awarded in 2021 with a primary focus on relocating the collections from third party sites to the charity's own property at Whitchurch. November 2022 saw the completion of relocation activities from two out of three third party sites. The remaining third party site being that of the charity's founding collector who retains both a loan collection for research and professional activities, along with excess collections for future relocation. Whilst it had been hoped that all third party sites would be relocated to Whitchurch by the end of 2022, the relocation of the other two third party sites resulted in the Whitchurch site reaching capacity. The resulting vacation of the two third party sites both mitigated risk to the collections whilst also relieving financial commitment. The relocation programme to date has made the collections accessible for the first time since they were relocated from the University of Greenwich in 2012 upon which they entered emergency temporary storage.

In response to the relocation programme, a series of knowledge capture activities commenced with the founding collector which will continue over coming years as the collections are organised and catalogued. This initial programme of knowledge capture will be expanded as processes are developed allowing for volunteer opportunities to be identified and implemented.

The branding and strategy work completed with the launch of a new website which facilitated the re-introduction of The Brooking to wider audiences as well as providing a platform to engage individuals, academic and heritage organisations as part of the charity's business development. A number of potential collaborative programmes have been identified and will continue to be developed to make the charity's collections as accessible as possible, as soon as possible. The charity continues to loan a number of collections which are used for museum display, academic engagement and continued professional development.

FINANCIAL REVIEW

Financial position

During the year, net expenditure was £196,367 (2022: net income of £2,255,747). Funds carried forward as at the year-end were as follows:

Page 2

THE BROOKING

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023

FINANCIAL REVIEW

Reserves policy

The charity's non-restricted finances are summarised as income, expenses and outstanding loans. Income is generated by donations. Expenses are limited to professional services, limited trustee expenses and sundries. Loans are outstanding to Charles Brooking and Susan Beardmore from activities mainly in 2012. Trustees continue to ensure that no costs are incurred beyond those included here and retains unrestricted reserves to ensure if project activities were to cease the property could be maintained.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Brooking is a Charitable Incorporated Organisation whose only voting members are its charity trustees. It is governed by a constitution dated 9 December 2013. The liability of members and trustees is limited.

Approved by order of the board of trustees on 17 August 2023 and signed on its behalf by:

A Bishop - Trustee

Page 3

THE BROOKING

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
465
Other trading activities
2
6,000
Investment income
3
904
Other income
150
Total
7,519
EXPENDITURE ON
Other
5,015
NET INCOME/(EXPENDITURE)
2,504
RECONCILIATION OF FUNDS
Total funds brought forward
(2,896)
TOTAL FUNDS CARRIED FORWARD
(392)		 Restricted
funds
£
-
-
-
-
-
198,871
(198,871)
2,403,148
2,204,277		 2023
Total
funds
£
465
6,000
904
150
7,519
203,886
(196,367)
2,400,252
2,203,885		 2022
Total
funds
£
2,360,800
6,000
37
150
2,366,987
111,240
2,255,747
144,505
2,400,252

The notes form part of these financial statements

Page 4

THE BROOKING

BALANCE SHEET 28 FEBRUARY 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
7
2,437
CURRENT ASSETS
Debtors: amounts falling due within one year
8
-
Debtors: amounts falling due after more than one
year
8
-
Cash at bank and in hand
13,571
13,571
CREDITORS
Amounts falling due within one year
9
(16,400)
NET CURRENT ASSETS/(LIABILITIES)
(2,829)
TOTAL ASSETS LESS CURRENT
LIABILITIES
(392)
NET ASSETS
(392)
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
1,010,179
642,214
304,828
251,481
1,198,523
(4,425)
1,194,098
2,204,277
2,204,277		 2023
Total
funds
£
1,012,616
642,214
304,828
265,052
1,212,094
(20,825)
1,191,269
2,203,885
2,203,885
(392)
2,204,277
2,203,885		 2022
Total
funds
£
1,028,846
447,223
529,101
431,769
1,408,093
(36,687)
1,371,406
2,400,252
2,400,252
(2,896)
2,403,148
2,400,252

The financial statements were approved by the Board of Trustees and authorised for issue on 17 August 2023 and were signed on its behalf by:

A Bishop - Trustee

Lucy Hockley

L Hockley - Trustee

The notes form part of these financial statements

Page 5

THE BROOKING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants

The accrual model has been used to recognise the grant when it is received or becomes receivable, as there are no future related costs or performance conditions.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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||| |---|---| |Freehold property|- Straight line over 50 years| |Fixtures and fittings|- Straight line over 15 years| |Computer equipment|- Straight line over 5 years|

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Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

continued...

Page 6

THE BROOKING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023

1. ACCOUNTING POLICIES - continued

Heritage assets

The number of objects held within the collections is currently unknown as at present they are not catalogued or formally accessioned. However, it is possible to estimate that the overall figure, once an inventory has been established, will be in the tens of thousands. Therefore, at this stage of the operation the trustees do not know exactly what is held within the collections and thus have no ability to have them valued. In time certain objects of value may be identified but due to the size of the collections, inventory and cataloguing will take multiple years. Furthermore, the vast majority of the objects have been rescued from disposal, are not in prime condition, or are in sectioned pieces.

2. OTHER TRADING ACTIVITIES

Collection rental
3.
INVESTMENT INCOME
Deposit account interest
4.
AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the charity's financial
statements
Auditors' remuneration for non audit work		 2023
£
6,000
2023
£
904
2023
£
-
-		 2022
£
6,000
2022
£
37
2022
£
7,560
2,352

5. TRUSTEES' REMUNERATION AND BENEFITS

During the year the following consultancy fees were paid to trustees:

The fees were paid to the trustees in order that the charity can deliver the Villum Foundation grant project and were paid in accordance with the charity's constitution.

Other than as set out above, no trustees' remuneration or other benefits were paid during the year ended 28 February 2023 or the year ended 28 February 2022.

continued...

Page 7

THE BROOKING NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023

5. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

During the year ended 28 February 2023, travel and subsistence expenses totalling £20 were reimbursed or paid directly to one trustee (2022: £63 to one trustee).

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
840
Other trading activities
6,000
Investment income
37
Other income
150
Total
7,027
EXPENDITURE ON
Other
7,668
NET INCOME/(EXPENDITURE)
(641)
RECONCILIATION OF FUNDS
Total funds brought forward
(2,255)
TOTAL FUNDS CARRIED FORWARD
(2,896)		 Restricted
funds
£
2,359,960
-
-
-
2,359,960
103,572
2,256,388
146,760
2,403,148		 Total
funds
£
2,360,800
6,000
37
150
2,366,987
111,240
2,255,747
144,505
2,400,252

continued...

Page 8

THE BROOKING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023

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7. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£ £ £ £
COST
At 1 March 2022 978,984 55,932 4,318 1,039,234
Additions - 4,204 - 4,204
At 28 February 2023 978,984 60,136 4,318 1,043,438
DEPRECIATION
At 1 March 2022 9,137 - 1,251 10,388
Charge for year 15,664 3,907 863 20,434
At 28 February 2023 24,801 3,907 2,114 30,822
NET BOOK VALUE
At 28 February 2023 954,183 56,229 2,204 1,012,616
At 28 February 2022 969,847 55,932 3,067 1,028,846
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Prepayments and accrued income 642,214 447,223
DEBTORS: AMOUNTS FALLING DUE AFTER ONE YEAR
2023 2022
£ £
Prepayments and accrued income 308,243 529,101
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continued...

Page 9

THE BROOKING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023

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9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors - 8,212
Other creditors 20,825 28,475
20,825 36,687
10. MOVEMENT IN FUNDS
Net
movement
At 1.3.22 in funds At 28.2.23
£ £ £
Unrestricted funds
General fund (2,896) 2,504 (392)
Restricted funds
Villum Foundation - Main Grant 2,257,029 (204,197) 2,052,832
Villum Foundation - Development Grant 146,119 5,326 151,445
2,403,148 (198,871) 2,204,277
TOTAL FUNDS 2,400,252 (196,367) 2,203,885
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 7,519 (5,015) 2,504
Restricted funds
Villum Foundation - Main Grant - (204,197) (204,197)
-
Villum Foundation - Development Grant 5,326 5,326
-
(198,871) (198,871)
TOTAL FUNDS 7,519 (203,886) (196,367)
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continued...

Page 10

THE BROOKING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.3.21
£
Unrestricted funds
General fund
(2,255)
Restricted funds
Villum Foundation - Main Grant
-
Villum Foundation - Development Grant
146,760
146,760
TOTAL FUNDS
144,505
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
7,027
Restricted funds
Villum Foundation - Main Grant
2,359,960
Villum Foundation - Development Grant
-
2,359,960
TOTAL FUNDS
2,366,987		 Net
movement
in funds
£
(641)
2,257,029
(641)
2,256,388
2,255,747
Resources
expended
£
(7,668)
(102,931)
(641)
(103,572)
(111,240)		 At 28.2.22
£
(2,896)
2,257,029
146,119
2,403,148
2,400,252
Movement
in funds
£
(641)
2,257,029
(641)
2,256,388
2,255,747

The specific purposes for which the funds are to be applied are as follows:

Villum Foundation - the establishment of a new and permanent home for the charity's collection, funded by grants from the Villum Foundation. The charity has received two grants:

a) Development grant - to facilitate delivery of the initial foundation elements of the overall grant application proposal.

b) Main grant - to fund the search, identification, acquisition and retention of new building premises; the transportation of the collection from its current locations to these premises; and the project management of the creation and the initial operation of an appropriately resourced museum programme.

Unrestricted general funds represent the free funds of the charity which are not designated for particular purposes.

continued...

Page 11

THE BROOKING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 28 FEBRUARY 2023

11. OTHER FINANCIAL COMMITMENTS

As at the year-end, the charity had commitments under operating leases which totalled £NIL (2022: £666).

12. RELATED PARTY DISCLOSURES

As at the year-end, balances totalling £16,400 (2022: £16,400) are owed to the founding members.

There were no other related party transactions during the year other than consultancy fees paid to trustees which are disclosed in note 5.

13. MEMBERS LIABILITY

In the event that the CIO is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. As at 28 February 2023 there were four members of the CIO (2022: two).

Page 12