mailes Goldie CHARIERÈD ACCOUNTANTS REGISTERED CHARITY NUMBER: 1155974 Smalles Goldie Copy The J F Brignall Charitable Trust CIO Unaudited Financial Statements 5th April 2024 sD-0216241-6 bJlidlng tQ8ethei ICAEW CHARTERED ACCOUNTANTS
The J F Brignall Charitable Trust CIO Contents of the Financial Statements for th• y•ar ended 5th Aprll 2024 Page Report of the Trustees Independent Examinorf8 Report Statement of Flnancial Actlvltles Balance Sheet Notes to the Financial Statements 7 to 11
The J F Brignall Charitable Trust CIO Report of the Trustees for the year ended 5th April 2024 The trustees present their report with the financial statements of the trust for the year ended 5 April 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities". Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). OBJECTIVES AND ACTMTIES Objectlves and aims The objective of the trust is to support projects of local and national charities and similar bodies, particularly those involved in: the advancement of knowledge and treatment of cancer and other major illness medical research the provision of medical care the protection of vulnerable children supporting disadvantaged youths in order to give these persons a sense of belonging and responsibility towards the community at large helping to relive suffering and making life better for sedors of the public local good causes Slgnlficant activities The trusl achieves Ils charitable objectives through makSng grants to support youth activities and the protection of vulnerable children, medical research and care and other local causes. Public benofit The trustees confirm that they have referred to the guidance contained In the Charity Commission's general guldance on public benefit when reviewing the trust's aims and objectives and in planning future activities and setting the grant making policy. Grantmaking Grant applications are presented by the applicants to the trustees at the quarterly trustees, meetings. The applications are assessed to ensure compatibility with the trust's objectives. FINANCIAL REVIEW Flnancial posltlon At 5 April 2024, the value of the trust's Investment portfolio was £8,113,604 (2023: £7.757,209). The trust's Investment Income for the year ended 5 April 2024 was £219,994 (2023: £170,094). Grants totalling £221,900 (2023: £318,800) were made. The value of unrestricted funds at 5 April 2024 is £8,653,262 (2023.. £8,203,204). Principal fundlng sources The principal funding source is investment income from the portfolio of investments managed by Coutts & Co and Investec Wealth & Management Limited. Investment policy and objectivas The strategy of the Trustees in regard to the investments held by the settlement is medium risk. Reserves pollcy The trust has unrestricted reserves of £8,653,262 at 5 April 2024. It is the trust's policy to retain sufficienl funds to continue the objectives as set out in this report. This is achieved by maintaining the capital base by equating income received with grants made, over the medium-term. FUTURE PLANS The trust intends lo continue using the investment income generated to make grants to charitable organisations in line with its charitable aims and objectives. Page 1
Thè J F Brignall Charitable Trust CIO Report of the Trustaes for the year anded 5th April 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The J F Brignall Charitable Trust was registered as a Charitable Incorporated Organisation ('CIO") with the Charily Commission on 28 February 2014. The governing documenl is the CIO'S Constitution which follows the Foundation model. Recrultment and appolntment of new trustees The firsl trustees were appointed on incorporation of the trust. New trustees must be appointed by a resolution passed at a properly convened meeting of the trustees. In selecling individuals for appointment as trustees. the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Organisatlonal structura The trustees meet on a quarterly basis to discuss future strategy and review the activities of the trust, consider matters arising and authorise grants. Decisions may also be taken by resolution in writing or electronic form agreed by all of the trustees. Induction and tralning of naw tru8tee8 The trustees will make available to each new trustee, on or before his or her first appointment, a copy of the current version of the constitution and a copy of the CIO'S latest Trustees, Annual Report and statement of accounts. Relat•d partles During the year, £1,350 was paid to K B Allan, daughter of J B Allan, irustee of the charitable trust for charity administration (2023.. £Nil l. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1155974 Règlstered office 109A Harland House Harland Way Coltingham East Yorkshire HU16 5TB Trustees Mrs J B Allan Miss S B Brignall Mrs C 8 Hazelwood Independent Examlner Smalles Goldie Chartered Accounlants Regent's Court Princess Street Hull East Yorkshire HU2 8BA Page 2
Th• J F Brlgnall Charftable Trust CIO Report of the Trustees for the year ended 5th April 2024 REFERENCE AND ADMINISTRATIVE DETAILS Solicitors Andrew Jackson Solicitors Marina Court Castle Street Hull HU1 1TJ Banker3 and Investment Advlsers Coutts & Co 440 Strand London WC2R OQS Investec Wealth & Investment Limited 3 Wellington Place Leeds LS14AP Approved by order of the board of trustees on 29th November 2024 and signed on its behalf by.. Jane Allan - Trustee Page 3
Independent Examlnerfs Report to the Trustees of The J F Brlgnall Charltable Trust CIO Independent examinerfs report to the trustees of The J F Brignall Charitsble Trust CIO I report to the charity trustees on my examination of the accounts of the charity for the year ended 5th April 2024. Responsibilities and basi8 of report As the charity's trustees you are responsible for the preparation of the aountS in accordance with the requirements of the Charities Act 2011 ('the Act,). Having satisfied myself that the accounts of the Charity are not required to be audited under Section 144 of the Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Indèpéndant axaminérfs statamènt I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me caus8 to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and content of acLounts 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. Stephen Bramall Bsc., FCA Smalles Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 88A Page 4
The J F Brignall Charitable Trust CIO Statement of Flnanclal Actlvltles for the year ended 5th April 2024 2024 Unrestrlcted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Investment income 219,994 170,094 EXPENDITURE ON Raising funds 48,198 42,117 Charltable actlvltles Medical Research & Care Vulnerable Children Local Grants Youth Support 38,566 45,228 4,750 133,356 161,000 98,200 59,680 Support costs 12,713 7,759 Totsl 282,811 368.756 Net gainsl{losses) on investments 512,875 574,902) NET INCOMEI(EXPENDITURE) 450,058 (773,564) RECONCILIATION OF FUNDS Total funds brought forward 8,203,204 8,976,768 TOTAL FUNDS CARRIED FORWARD ,653,262 8,203,204 The notes form part of these financial statements Page 5
The J F Brlgnall Charltable Trust CIO Balance Shoet 5th April 2024 2024 Unrostricted fund 2023 Total fund8 Notes FIXED ASSETS Investments 8,113,604 7,757,209 CURRENT ASSETS Debtors Cash at bank 10 21,817 713,995 19,811 529,824 735,812 549,635 CREDITORS Amounts falling due within one year 11 (131,362) (103,640) NET CURRENT ASSETS 604 450 445.995 TOTAL ASSETS LESS CURRENT LIABILITIES 8,718,054 8,203,204 CREDITORS Amounts falling due after more than one year 12 (64,792) NET ASSETS 8,653 262 8,203,204 FUNDS Unrestricted funds 13 8 653,262 8,203,204 TOTAL FUNDS 8 653,262 8,203,204 The financial statements were 8pproved by the Board of Trustees and authorised for issue on 29th November 2024 and were signed on its behalf by: Jane Allan - Trustee The notes form part of these financial statements Page 6
The J F Brfgnall Charltable Trust CIO Notes to the Financial Statéments for the year ended 5th April 2024 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, with the exception of investments which are induded at market value, as modified by the revaluation of certain assets. 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. Expendlture Liabilities are recognised 8s 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. Expenditur8 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. Granls payable are charged in the year when the offer is made. Grants offered over multiple years are accrued as expenditure in the year of offer, unless there are performance conditions attached to the grants, in which case the grant (or element) thereof is recognised when the performance conditions have been met. Taxation The ch8rity is exempt from corporation tax on its charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the charitable oblectlves at the discretion of the trustees. Restricled funds can only be used for partlcular restricted purposes within the objects of the charity. Reslriclions arise when specified by the donor or when funds are raised for particular restrided purposes. Debtors and credltors recelvablelpayable withln one year Debtors and creditors with no stated interest rate and re1vable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Flxed asset investments Fixed asset investments are a form of basicfinancial instrument and are initially recognised at their transaction value and subsequently measured at their fair value at the balan sheet date using the closing quoted market pri. Fair value gains and losses are recognised in the Ststement of Financial Activities. Page 7 continued...
The J F Brignall Charitable Trust CIO Notes to the Flnancial Statements - continued for the year endod 5th April 2024 INVESTMENT INCOME 2024 2023 Fixed interest Dividends Other 92,521 104.048 23,425 53,953 103.975 12,166 219,994 170.094 RAISING FUNDS Investment management costs 2024 2023 Portfolio management 48,198 42,117 CHARITABLE ACTIVITIES COSTS Charitable activities costs exclusively represent grants payable. A detailed breakdown of grants payable is provided in note S. GRANTS PAYABLE 2024 2023 Medical Research & Care Vulnerable Children Local Grants Youth Support 38,566 45,228 4,750 133,356 161,000 98,200 59.680 221,900 318,880 The total grants paid to institutions during the year was as follows: Total Committed Committed ft)r recognised in brought forward Paid in year future periods year Cat Zero Old School Middle Child University of Hull Teenage Cancer Trust Laser Trust Fund Moghissi HDCA House of Light Support Dogs Humber Rescue Feral Arts School Yorkshire Children's Charity Hull YFC 35,000 10,000 35,000 10,000 85,356 27,Crf)O 17,200 85,356 54,000 27.000 8,600 10,000 6,000 25,800 10,000 13,000 7,000 35,000 35,000 2,766 1,250 3,500 12,000 12,200 2.766 1,250 3.500 12,000 33,228 21,028 99,000 128,316 192,584 221,900 Page 8 continued...
The J F Brignall Charitablo Trust CIO Notes to the Financial Statements - continued for the year ended 5th Aprll 2024 SUPPORT COSTS Governance costs Management Flnance Totals Other resources expended 1,350 11,361 12,713 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl{crediting)'. 2024 2023 Independent examiner's fee 3,570 3,830 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other benefits for the year ended 5th April 2024 nor for the year ended 5th April 2023. Trustaos, •xpense8 There were no trustees, expenses paid for the year ended 5th April 2024 nor for the year ended 5th April 2023. FIXED ASSET INVESTMENTS Equities and other holdings Flxed Interest Totals MARKET VALUE At 6th April 2023 Additions Disposals Revaluations 2,524,145 5,233,064 7,757.209 1,244,005 2,399,154 3,643.159 (1,356,827) (2,442,812) 13.799,639) 18 815) 531,690 512,875 At 5th April 2024 2,392,508 5 721096 8,113,604 NET BOOK VALUE At 5th April 2024 2,392,508 5,721,096 8,113,604 At 5th April 2023 2,524,145 5,233,064 7,757,209 Invastments at market value comprlse: UK Overseas 2024 2023 Equities Securities 1,983,256 3.737,840 1,524,764 5,721,096 2,392,508 5,233,064 2,524,145 Total market value 2.851,000 5,262,604 8.113,604 7,757,209 Page 9 continued...
Tha J F Brlgnall Charltable Trust CIO Notos to the Financial Statamonts - contlnued for the year ended 5th April 2024 10. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Other debtors 19,811 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Grants committed Other creditors 127,792 99,000 4,640 103640 Movement In recognlsed grant commitments during the year: Charltable commltments accrued Grant commitments at 5 April 2023 Previous grant commltments paid during the year Grant commitment made during the year 99,000 (37,000) 130,584 Grant commitments at 5 April 2024 Falling due: Within one year After one year 127,792 192,584 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Grants committed 13. MOVEMENT IN FUNDS Net movement In funds At 514124 At 614123 Unrestri¢t•d funds General fund 8,203,204 450,058 8,653,262 TOTAL FUNDS 8 203 204 450.058 8 653 262 Page 10 continued...
The J F Brlgnall Charitabl• Trust CIO Notes to the Flnanclal Statements - continued for th• year ended 5th Aprll 2024 13. MOVEMENT IN FUNDS- Contlnuad Net movement in funds. included in the above are as follows: Incomlng resources Resources expended Gains and Movement losses in funds Unrostrlctad funds General fund 219,994 {282,811) 512,875 450,058 TOTAL FUNDS 219 994 282,811) 512,875 Comparatlves for movoment In funds Nat mov•ment In funds At 514123 At 614122 Unrestrlcted funds General fund 8,976,788 (773,564) 8,203,204 TOTAL FUNDS 8,976,768 773.564) 8,203,204 Comparative net movement In funds, included in the above are as follows: Incoming 8our¢e6 Resources expended Galns and losses Movement In funds Unr•8trl¢tad funds General fund 170,094 (368,756) (574,902) (773,584) TOTAL FUNDS 170094 368.756) 574,902) 773,564) 14. RELATED PARTY DISCLOSURES During the year, £1,350 was paid to K B Allan, daughter of J B Allan, trustee of the charitsble trust for charity administration (2023: £Nil). Page11