REGISTERED CHARITY NUMBER: 1155363
THE BROOKING
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
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 29 FEBRUARY 2024
| 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 |
THE BROOKING
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 29 FEBRUARY 2024
TRUSTEES A Bishop (resigned 22.11.2023) L Hockley C O'Sullivan R Hurtley P C N Stewart (appointed 10.10.2023) E Denness (appointed 1.11.2023) E L Crowther (appointed 1.11.2023) T S J Hay (appointed 1.11.2023) J M Gibbs (appointed 1.2.2024) J McIntosh (appointed 1.2.2024) I D Petit (appointed 1.2.2024) I Taylor (appointed 1.2.2024) PRINCIPAL ADDRESS The Brooking Andover Road Whitchurch Hampshire RG28 7RL
REGISTERED CHARITY NUMBER 1155363
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024
THE BROOKING
The trustees present their report with the financial statements of the charity for the year ended 29 February 2024. 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
-
To advance the education of the public and the professions in the field of architecture.
-
To develop, preserve and maintain the Brooking Collection for educational and museum purposes.
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 is 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 made considerable progress in its plans, in line with the grant funding awarded by the Villum Foundation in 2021. Approximately three quarters of the collections are now safely housed in the premises at Whitchurch, while planning is underway for the move of most of the remaining objects from the Surrey property of the founding collector, Charles Brooking. In order to facilitate this, a programme of works was devised to take place in spring 2024. This will create considerable additional space in the Whitchurch warehouse by removing outdated and unusable internal rooms and facilities.
Knowledge-capture activities continued with the trialling of various approaches to record Mr Brooking's knowledge of the collections at different levels of detail. This will provide the basis of ongoing work with the help of a volunteer programme in the coming year. Numerous discussions were held with potential project partners and supportive external organizations in order to raise the profile of the charity and identify possible paths to disseminate knowledge of the collection. A loan of 68 objects to the Villum Window Collection's 'Wall of Windows' exhibit in Søborg, Denmark, was extended.
An important development in the governance of the charity was successfully completed in the course of the year with the expansion of the trustee board from four to eleven members. New trustees, including a new chair of the trustee board, were appointed through an open recruitment process. They bring to the board a range of professional skills and experience. The expanded board now has greater capacity to lead strategic planning and fundraising beyond the end of the current grant. It will also facilitate the further professionalization of The Brooking as an aspiring museum by strengthening best practice in governance, risk management, and institutional policies.
FINANCIAL REVIEW
Financial position
During the year, net expenditure was £116,997 (2023: £196,367). Funds carried forward as at the year-end were as follows: - unrestricted: £7,453 (2023: a deficit of £392)
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restricted: £2,079,434 (2023: £2,204,277)
-
total funds £2,086,887 (2023: £2,203,885)
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THE BROOKING
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 29 FEBRUARY 2024
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 15 November 2024 and signed on its behalf by:
P C N Stewart - Trustee
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THE BROOKING
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 29 FEBRUARY 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 471 Other trading activities 2 6,000 Investment income 3 3,820 Other income - Total 10,291 EXPENDITURE ON Other 2,445 NET INCOME/(EXPENDITURE) 7,846 RECONCILIATION OF FUNDS Total funds brought forward (374) TOTAL FUNDS CARRIED FORWARD 7,472 |
Restricted funds £ - - - - - 111,965 (111,965) 2,204,259 2,092,294 |
2024 Total funds £ 471 6,000 3,820 - 10,291 114,410 (104,119) 2,203,885 2,099,766 |
2023 Total funds £ 465 6,000 904 150 7,519 203,886 (196,367) 2,400,252 2,203,885 |
|---|---|---|---|
The notes form part of these financial statements
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THE BROOKING
BALANCE SHEET 29 FEBRUARY 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 6 | 1,556 | 1,000,595 | 1,002,151 | 1,012,616 |
| CURRENT ASSETS | |||||
| Debtors: amounts falling due within one year | 7 | - | 612,267 | 612,267 | 642,214 |
| Debtors: amounts falling due after more than one | |||||
| year | 7 | - | 308,243 | 308,243 | 304,828 |
| Cash at bank and in hand | 5,915 | 187,303 | 193,218 | 265,052 | |
| 5,915 | 1,107,813 | 1,113,728 | 1,212,094 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 8 | 1 | (16,114) | (16,113) | (20,825) |
| NET CURRENT ASSETS | 5,916 | 1,091,699 | 1,097,615 | 1,191,269 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 7,472 | 2,092,294 | 2,099,766 | 2,203,885 | |
| NET ASSETS | 7,472 | 2,092,294 | 2,099,766 | 2,203,885 | |
| FUNDS | 9 | ||||
| Unrestricted funds | 7,472 | (392) | |||
| Restricted funds | 2,092,294 | 2,204,277 | |||
| TOTAL FUNDS | 2,099,766 | 2,203,885 |
The financial statements were approved by the Board of Trustees and authorised for issue on 15 November 2024 and were signed on its behalf by:
P C N Stewart - Trustee
L Hockley - Trustee
The notes form part of these financial statements
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THE BROOKING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
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.
Freehold property - Straight line over 50 years Fixtures and fittings - Straight line over 15 years Computer equipment - Straight line over 5 years
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.
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
THE BROOKING
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
3.
| Collection rental INVESTMENT INCOME Deposit account interest |
2024 £ 6,000 2024 £ 3,820 |
2023 £ 6,000 |
|---|---|---|
| 2023 £ 904 |
4. TRUSTEES' REMUNERATION AND BENEFITS
During the year the following consultancy fees were paid to trustees: - A Bishop £13,013 (2023: £17,794)
The fees were paid to the trustee 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 29 February 2024 or the year ended 28 February 2023.
Trustees' expenses
During the year ended 29 February 2024, travel and subsistence expenses totalling £198 were reimbursed or paid directly to one trustee (2023: £20 to one trustee).
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THE BROOKING
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 465 Other trading activities 6,000 Investment income 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 |
Total funds £ 465 6,000 904 150 7,519 203,886 (196,367) 2,400,252 2,203,885 |
|---|---|---|
continued...
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THE BROOKING
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
6. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 March 2023 978,984 Additions 6,505 At 29 February 2024 985,489 DEPRECIATION At 1 March 2023 24,801 Charge for year 19,626 At 29 February 2024 44,427 NET BOOK VALUE At 29 February 2024 941,062 At 28 February 2023 954,183 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income DEBTORS: AMOUNTS FALLING DUE AFTER ONE YEAR Prepayments and accrued income |
Fixtures and fittings £ 60,136 7,971 68,107 3,907 4,452 8,359 59,748 56,229 |
Computer equipment £ 4,318 - 4,318 2,114 863 2,977 1,341 2,204 2024 £ 612,267 |
Computer equipment £ 4,318 - 4,318 2,114 863 2,977 1,341 2,204 2024 £ 612,267 |
Totals £ 1,043,438 14,476 1,057,914 30,822 24,941 55,763 1,002,151 1,012,616 2023 £ 642,214 |
Totals £ 1,043,438 14,476 1,057,914 30,822 24,941 55,763 1,002,151 1,012,616 2023 £ 642,214 |
|---|---|---|---|---|---|
| 2024 | 2023 | ||||
| £ | £ | ||||
| 308,243 | 304,828 | ||||
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THE BROOKING
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 9. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Villum Foundation - Main Grant Villum Foundation - Development Grant TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Villum Foundation - Main Grant Villum Foundation - Development Grant TOTAL FUNDS |
At 1.3.23 £ (374) 2,052,814 151,445 2,204,259 2,203,885 Incoming resources £ 10,291 - - - 10,291 |
2024 £ 16,113 Net movement in funds £ 7,846 (111,699) (266) (111,965) (104,119) Resources expended £ (2,445) (111,699) (266) (111,965) (114,410) |
2023 £ 20,825 At 29.2.24 £ 7,472 1,941,115 151,179 2,092,294 2,099,766 Movement in funds £ 7,846 (111,699) (266) (111,965) (104,119) |
|---|---|---|---|
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THE BROOKING
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.3.22 £ Unrestricted funds General fund (2,896) Restricted funds Villum Foundation - Main Grant 2,257,029 Villum Foundation - Development Grant 146,119 2,403,148 TOTAL FUNDS 2,400,252 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 7,519 Restricted funds Villum Foundation - Main Grant - Villum Foundation - Development Grant - - TOTAL FUNDS 7,519 |
Net movement in funds £ 2,504 (204,197) 5,326 (198,871) (196,367) Resources expended £ (5,015) (204,197) 5,326 (198,871) (203,886) |
At 28.2.23 £ (392) 2,052,832 151,445 2,204,277 2,203,885 Movement in funds £ 2,504 (204,197) 5,326 (198,871) (196,367) |
|---|---|---|
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.
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THE BROOKING
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 29 FEBRUARY 2024
10. RELATED PARTY DISCLOSURES
As at the year-end, balances totalling £11,600 (2023: £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 4.
11. 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 29 February 2024 there were eleven members of the CIO (2023: four).
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