Charity number: 1155871 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## CONTENTS ||Page| |---|---| |**Reference and administrative details of the charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Statement of cash flows**|8| |**Notes to the financial statements**|9 - 19| ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS _FOR THE YEAR ENDED 31 MARCH 2024_ |**Trustees**|Susan P Burgess-Smith| |---|---| ||Michael H Banks| ||Jacqueline M Bramah(deceased 23 August 2024)| ||Jennifer M Banks| ||Mark C Burgess-Smith| |**Charity registered number**
1155871
**Principal office**
22 Arterberry Road
London
SW20 8AH
**Investment Advisors**
Investec Wealth and Investment
Beech House
61 Napier Street
Sheffield
S11 8HA
**Solicitors**
Wrigleys Solicitors LLP
Derwent House
150 Arundel Gate
Sheffield
S1 2FN
**Independent examiner**
Rachel Heath FCCA DChA
BHP LLP
Chartered Accountants
2 Rutland Park
Sheffield
S10 2PD|| Page 1 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## TRUSTEES' REPORT _FOR THE YEAR ENDED 31 MARCH 2024_ The Trustees present their report and the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts 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 published (FRS102) published in October 2019. ## _**Structure, governance and management**_ ## **a. Constitution** The charity was founded by Gordon Bramah in December 2013 and endowed by him the following year. Gordon sadly died in December 2017 and the charity, bearing his name, continues his philanthropic work. In the 10 years since endowment the charity has made grants and gifts of more than £450,000. Gordon’s wife, Jackie Bramah, has also recently died, a fortnight short of her 91st birthday in August 2024. She had served as a trustee since the charity’s inception. She was a resolute and conscientious trustee with clear views on the direction of travel of the charity, and was passionate about supporting those charities in which she was particularly interested. She will be much missed. Her passing means that her daughter, Penny Burgess-Smith, is now the sole remaining trustee with a blood link to Gordon. Although the charity has broad powers, it is primarily concerned with supporting charities and individuals in the North Derbyshire and South Yorkshire areas. As a general principle its priority is donating to capital projects rather than supporting ongoing expenditure. The Trustees who served during the year are: Mrs J M Bramah (deceased 23 August 2024) Dr M H Banks Mrs S P Burgess-Smith Mrs J M Banks Mr M C Burgess-Smith Mrs J M Bramah was entitled to hold office for life. Future Trustees must be appointed by a resolution of the Trustees. When new Trustees are appointed they are briefed on the objects of the charity and given a copy of the charity's constitution and latest accounts. The Trustees meet twice each year to consider appeals. All Trustees give their time freely and no Trustee was remunerated in the year. The principal risks to which the charity is exposed are the security and the performance of the investments and cash. The Trustees are satisfied that they have arrangements in place to mitigate those risks. Page 2 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** TRUSTEES' REPORT (CONTINUED) _FOR THE YEAR ENDED 31 MARCH 2024_ ## _**Objectives and activities**_ ## **a. Strategies for achieving objectives** ## _**Public benefit**_ The Trustees have referred to the guidance on public benefit issued by the Charity Commission when reviewing the trust's objectives and grant making policies. The charity has continued to meet its objectives and fulfil its public benefit requirements by making grants, pledges and gifts to a wide range of local projects. ## _**Achievements and performance**_ ## **a. Main achievements of the charity** Details of the grants made and authorised are set out in the notes to the accounts. ## _**Financial review**_ ## **a. Financial review** Total income for the year was £102,085 (2023: £96,795) being investment income on the Trust's investment portfolio. Total expenditure for the year was £66,085 (2023: £27,208). Investment management costs were £12,691 (2023: £12,841). Expenditure on charitable activities was £53,394 (2023: £14,367), which included governance costs of £4,166 (2023: £4,117). Net income for the year was £36,000 (2023: £69,587). After taking into account the gains on investments of £60,244 (2023: £324,962 losses), there was a net surplus of £96,244 (2023: £255,375 net deficit). At 31 March 2024 the charity's expendable endowment fund amounted to £2,016,803 (2023: £1,969,250) and unrestricted funds were £276,025 (2023: £227,334). ## **b. Reserves policy** At 31 March 2024 the charity had unrestricted free reserves amounting to £276,025 (2023: £227,334). The trustees consider it to be prudent to hold income reserves of this order partly so the level of grants in the immediate future can be sustained in the event of any unforeseen fall in income and partly to enable the Trustees to make one or more substantial grants without prejudicing the normal pattern of grant making. ## **c. Investment policy** The investment objective is to maximise the funds of the charity, achieving a level of income commensurate to the asset mix and capital growth ahead of inflation over time. This objective should be achieved undertaking only a moderate level of risk. The charity's investments are managed by the investment advisors on a discretionary basis. Page 3 ## THE GORDON BRAMAH CHARITABLE SETTLEMENT ## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ## d. Going concern The charity has sufficient reserves to enable it to continue for the foreseeable future. Therefore, the trustees believe it is appropriate for the financial statements to be prepared on the going concern basis. ## Statement of Trustees’ responsibilities The trustees are responsible for preparing the trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period. In preparing these financial statements, the trustees are required to: - e select suitable accounting policies and then apply them consistently; e observe the methods and principles of the Charities SORP 2019 (FRS 102); - e make judgments and accounting estimates that are reasonable and prudent; - e state whether applicable Accounting Standards have been followed; - e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time 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 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the membersofthe board of[trustees][and][signed][on][their][behalf][by:] Mrs S P Burgess-Smith vate: 23% Ootrher 2024 Page 4 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## INDEPENDENT EXAMINER'S REPORT _FOR THE YEAR ENDED 31 MARCH 2024_ ## **Independent examiner's report to the Trustees of The Gordon Bramah Charitable Settlement ('the charity')** I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts 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 accounts to be reached. Signed: > Dated: 25 October 2024 Rachel Heath FCCA DChA BHP LLP 2 Rutland Park Sheffield S10 2PD Page 5 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** STATEMENT OF FINANCIAL ACTIVITIES _FOR THE YEAR ENDED 31 MARCH 2024_ |**Note**
**Income and endowments from:**
Investments
4
**Total income and endowments**
**Expenditure on:**
Raising funds
5
Charitable activities
6
**Total expenditure**
**Net income before net gains/(losses) on**
**investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**102,085**
**102,085**
**-**
**53,394**
**53,394**
**48,691**
**-**
**48,691**
**227,334**
**48,691**
**276,025**|**Endowment**
**funds**
**2024**
**£**
**-**
**-**
**12,691**
**-**
**12,691**
**(12,691)**
**60,244**
**47,553**
**1,969,250**
**47,553**
**2,016,803**|**Total**
**funds**
**2024**
**£**
**102,085**
**102,085**
**12,691**
**53,394**
**66,085**
**36,000**
**60,244**
**96,244**
**2,196,584**
**96,244**
**2,292,828**|Total
funds
2023
£
96,795
96,795
12,841
14,367
27,208
69,587
(324,962)
(255,375)
2,451,959
(255,375)
2,196,584| |---|---|---|---|---| The Statement of financial activities includes all gains and losses recognised in the year. Page 6 ## THE GORDON BRAMAH CHARITABLE SETTLEMENT ## BALANCE SHEET AS AT 31 MARCH 2024 ||||2024||2023| |---|---|---|---|---|---| ||Note||£||£| |Fixed assets|||||| |Investments|||2,230,808||2,046,890| ||||2,230,808||2,046,890| |Current assets|||||| |Debtors|11|16,037||17,490|| |Cash at bank and in hand||49,823||135,834|| |||65,860||153,324|| |Creditors: amounts falling due within one year|12|(3,840)||(3,630)|| |Net current assets|||62,020||149,694| |Total assets less current liabilities|||2,292,828||2,196,584| |Total net assets|||2,292,828||2,196,584| |Charity funds|||||| |Endowment funds|13||2,016,803||1,969,250| |Unrestricted funds|13||276,025||227,334| |Totalfunds|||2,292,828||2,196,584| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: **----- Start of picture text -----**
Mrs S P Burgess-Smith je
**----- End of picture text -----**
## Date: 23 Octsbher Aox2zy The notes on pages 9 to 19 form part of these financial statements. **----- Start of picture text -----**
s
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**i** e i Page 7 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** STATEMENT OF CASH FLOWS _FOR THE YEAR ENDED 31 MARCH 2024_ |**Note**
**Cash flows from operating activities**
Net cash used in operating activities
16
**Cash flows from investing activities**
Dividends and interest from investments
Proceeds from sale of investments
Purchase of investments
**Net cash provided by investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
17|**2024**
**£**
**(64,422)**
**102,085**
**349,827**
**(348,098)**
**103,814**
**39,392**
**166,122**
**205,514**|2023
£
(24,805)
96,795
81,487
(81,451)
**96,831**
**72,026**
94,096
166,122| |---|---|---| Page 8 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **1. General information** The Gordon Bramah Charitable Settlement is a registered unincorporated charity in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activity is grant-making activities. ## **2. Accounting policies** ## _**2.1 Basis of preparation of financial statements**_ 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 102) issued in October 2019, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Gordon Bramah Charitable Settlement meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## _**2.2 Going concern**_ The charity has sufficient reserves to enable it to continue for the foreseeable future. Therefore, the trustees believe it is appropriate for the financial statements to be prepared on the going concern basis. ## _**2.3 Fund accounting**_ General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Endowment funds are those held on trust to be retained for the benefit of the charity as a capital fund. There are discretionary powers to convert capital into income and as a result, these funds are classified as expendable endowment. Investment income, gains and losses are allocated to the appropriate fund. Page 9 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **2. Accounting policies (continued)** ## _**2.4 Income**_ All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. ## _**2.5 Expenditure**_ Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Expenditure on raising funds relates to investment management costs. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. All expenditure is inclusive of irrecoverable VAT. ## _**2.6 Interest receivable**_ Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. ## _**2.7 Investments**_ Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities. Page 10 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **2. Accounting policies (continued)** ## _**2.8 Debtors**_ Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## _**2.9 Cash at bank and in hand**_ Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## _**2.10 Liabilities and provisions**_ Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. ## _**3.**_ **Critical accounting estimates and areas of judgment** Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions: The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no accounting estimates and areas of judgment that are considered to have a material impact on the financial statements. Page 11 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **4. Investment income** |Investment income
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
102,085
96,795|**Total**
**funds**
**2024**
**£**
**102,085**
96,795|Total
funds
2023
£
96,795| |---|---|---|---| ||||| ## **5. Investment management costs** |Investment management fees
Total 2023
**Charitable activities expenditure**
Grants paid (note 7)
Governance costs (note 8)|**Endowment**
**funds**
**2024**
**£**
12,691
12,841|**Total**
**funds**
**2024**
**£**
**12,691**
12,841
**2024**
**£**
**49,228**
**4,166**
**53,394**|Total
funds
2023
£
12,841| |---|---|---|---| ||||2023
£
10,250
4,117
14,367| ## **6. Charitable activities expenditure** In both years all charitable activities expenditure was unrestricted. Page 12 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **7. Grants paid** |Sheffield University GTIMC PhD sponsorship
Ashgate Hospice
ReACT
Friends of Cromford Canal
Chesterfield Canal Trust|**2024**
**£**
**31,728**
**-**
**7,500**
**5,000**
**5,000**
**49,228**|2023
£
-
10,250
-
-
-
10,250| |---|---|---| ## **8. Governance costs** |Independent examination fees
Trustees' expenses
Bank charges
Website costs|**2024**
**£**
**3,840**
**242**
**63**
**21**
**4,166**|2023
£
3,630
425
62
-
4,117| |---|---|---| ## **9. Net income/(expenditure)** This is stated after charging: ||**2024**|2023| |---|---|---| ||**£**|£| |Independent examination fees|**3,200**|3,025| During the year, no Trustees received any remuneration or benefits in kind (2023 - £nil). During the year, 1 Trustee received expenses amounting to £242 in relation to travel expenses (2023 - 5 Trustees - £425). Page 13 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **10. Investments** |**_Market value_**
Brought forward
Additions at cost
Disposal proceeds
Net gains/ (losses) on revaluation
**_Market value at 31 March_**
Investment cash
Investments comprise of:
UK
Europe
Other
**_Historical cost_**
Historical cost of investments held at 31 March
**Debtors**
Accrued income|**2024**
**£**
**2,016,602**
**348,098**
**(349,827)**
**60,244**
**2,075,117**
**155,691**
**2,230,808**
**586,644**
**149,525**
**1,338,948**
**2,075,117**
**1,758,821**
**1,758,821**
**2024**
**£**
**16,037**
**16,037**|2023
£
2,341,600
81,451
(81,487)
(324,962)
2,016,602
30,288
2,046,890
908,763
91,600
1,016,239
2,016,602
1,782,654
1,782,654
2023
£
17,490
17,490| |---|---|---| ## **11. Debtors** Page 14 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **12. Creditors: Amounts falling due within one year** |Accruals
**13.**
**Statement of funds**
**Statement of funds - current year**
**Balance at 1**
**April 2023**
**£**
**_Unrestricted_**
**_funds_**
General funds
**227,334**
**_Endowment funds_**
Endowment funds
**1,735,302**
Revaluation
reserve
**233,948**
**1,969,250**
**_Total of funds_**
**2,196,584**|**Income**
**£**
**102,085**
**-**
**-**
**-**
**102,085**|**Expenditure**
**£**
**(53,394)**
**(12,691)**
**-**
**(12,691)**
**(66,085)**|**Transfers**
**in/out**
**£**
**-**
**(22,104)**
**22,104**
**-**
**-**|**2024**
**£**
**3,840**
**Gains/**
**(Losses)**
**£**
**-**
**-**
**60,244**
**60,244**
**60,244**|2023
£
3,630| |---|---|---|---|---|---| ||||||**Balance at 31**
**March 2024**
**£**
**276,025**| ||||||**1,700,507**
**316,296**
**2,016,803**| ||||||**2,292,828**| Page 15 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **13. Statement of funds (continued)** ## **Statement of funds - prior year** |**_Unrestricted_**
**_funds_**
General Funds - all
funds
**_Endowment funds_**
Endowment funds
Revaluation
reserve
**_Total of funds_**
**Summary of funds**|Balance at
1 April 2022
£
144,906
1,730,635
576,418
2,307,053
2,451,959
**- current year**
**Balance at 1**
**April 2023**
**£**
**227,334**
**1,969,250**
**2,196,584**|Income
£
96,795
-
-
-
96,795
**Income**
**£**
**102,085**
**-**
**102,085**|Expenditure
£
(14,367)
(12,841)
-
(12,841)
(27,208)
**Expenditure**
**£**
**(53,394)**
**(12,691)**
**(66,085)**|Transfers
in/out
£
-
17,508
(17,508)
-
-
**Transfers**
**in/out**
**£**
**-**
**-**
**-**|Gains/
(Losses)
£
-
-
(324,962)
(324,962)
(324,962)
**Gains/**
**(Losses)**
**£**
**-**
**60,244**
**60,244**|Balance at
31 March
2023
£
227,334| |---|---|---|---|---|---|---| |||||||1,735,302
233,948
1,969,250| |||||||2,196,584| |||||||**Balance at 31**
**March 2024**
**£**
**276,025**
**2,016,803**
**2,292,828**| |**Summary of funds**||||||| |General funds
Endowment funds||||||| ## **14. Summary of funds Summary of funds - current year** Page 16 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **14. Summary of funds (continued)** ## **Summary of funds - prior year** |General funds
Endowment funds|Balance at
1 April 2022
£
144,906
2,307,053
2,451,959|Income
£
96,795
-
96,795|Expenditure
£
(14,367)
(12,841)
(27,208)|Transfers
in/out
£
-
-
-|Gains/
(Losses)
£
-
(324,962)
(324,962)|Balance at
31 March
2023
£
227,334
1,969,250
2,196,584| |---|---|---|---|---|---|---| ## **15. Analysis of net assets between funds** ## **Analysis of net assets between funds - current period** |Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|**Unrestricted**
**funds**
**2024**
**£**
214,005
65,860
(3,840)
276,025|**Endowment**
**funds**
**2024**
**£**
2,016,803
-
-
2,016,803|**Total**
**funds**
**2024**
**£**
**2,230,808**
**65,860**
**(3,840)**
**2,292,828**| |---|---|---|---| ## **Analysis of net assets between funds - prior period** |Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|Unrestricted
funds
2023
£
77,640
153,324
(3,630)
227,334|Endowment
funds
2023
£
1,969,250
-
-
1,969,250|Total
funds
2023
£
2,046,890
153,324
(3,630)
2,196,584| |---|---|---|---| Page 17 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **16. Reconciliation of net movement in funds to net cash flow from operating activities** |Net income/ (expenditure) for the year (as per Statement of Financial Activities)
**_Adjustments for:_**
(Gains)/losses on investments
Dividends and interest from investments
Decrease in debtors
Increase in creditors
**_Net cash used in operating activities_**
**17.**
**Analysis of cash and cash equivalents**
Cash in hand
Cash held in investment portfolio
**_Total cash and cash equivalents_**
**18.**
**Analysis of changes in net debt**|**2024**
**£**
**96,244**
**(60,244)**
**(102,085)**
**1,453**
**210**
**(64,422)**
**2024**
**£**
**49,823**
**155,691**
**205,514**|2023
£
(255,375| |---|---|---| |||324,962
(96,795
2,073
330| |||(24,805| |||2023
£
135,834
30,288| |||166,122| |||| |Cash at bank and in hand
Cash equivalents|**At 1 April**
**2023**
**£**
**135,834**
**30,288**
**166,122**|**Cash flows**
**£**
**(86,011)**
**125,403**
**39,392**|**At 31 March**
**2024**
**£**
**49,823**
**155,691**
**205,514**| |---|---|---|---| Page 18 ## **THE GORDON BRAMAH CHARITABLE SETTLEMENT** ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024_ ## **19. Grant commitments** The Charity has entered into a Grant Agreement with the University of Sheffield to fund a PhD student at the Gene Therapy Innovation and Manufacturing Centre. The total commitment is £111,087, of which £31,728 has been paid. ## **20. Related party transactions** There are no related party transactions to disclose (2023 - none). Page 19