FRANK BRANSTON CHARITABLE TRUST
6
BALANCE SHEET AS AT 5[TH] APRIL 2021
| 8 Fixed assets Investments Current assets Debtors Cash at Bank Other Deposits Less: Current liabilities Accrued Expenses Other Creditors Net current (liabilities)/assets Funds Unrestricted income account Unrestricted capital account |
2021 £ 1,358,002 - 40,267 76,768 117,035 930 - 930 116,105 £1,474,107 105,163 1,368,944 £1,474,107 |
2020 £ 1,021,702 - 84,297 33,342 117,639 780 - 780 116,859 £1,138,561 128,357 1,010,204 £1,138,561 |
2020 |
|---|---|---|---|
The financial statements were approved by the Trustees on 25[th] January 2022.
M BRANSTON - Trustee
A C BRANSTON - Trustee
FRANK BRANSTON CHARITABLE TRUST
7
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 5[TH] APRIL 2021
1. Statutory information
Frank Branston Charitable Trust is a charitable incorporated organisation in England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements.
2. Accounting policies
Basis of accounting
The charity constitutes a public benefit entity as defined by FRS 102. 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 on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A
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.
Incoming resources
Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty.
Income is only deferred when the charity has to fulfil conditions before becoming entitled to it.
Expenditure and liabilities
Liabilities are recognised on the accruals basis.
Expenses which are directly attributed to specific activities are included within those cost categories.
Governance costs include those associated with meeting the constitutional and statutory requirements of the charity, including accountancy fees and costs linked to the strategic management of the charity.
Investments
Listed investments, for which fair value can be measured reliably without undue cost or effort, are measured at fair value at each reporting date with changes in fair value recognised in the statement of financial activities.
The current fair value is based on a recognised stock-brokers valuation report at the balance sheet date.
3. Employees and trustees
There were no employees in the reporting period.
No trustee received any remuneration of expense reimbursement in the period.
4. Grants & donations receivable
| Income | Capital | Income | Capital | |
|---|---|---|---|---|
| 2021 | 2021 | 2020 | 2020 | |
| £ | £ | £ | £ | |
| Donations from Mrs M Branston | - | 68,860 | - | 82,623 |
| £- | £68,860 | £- | £82,623 |