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2021-12-31-accounts

Registered Company Number 9362584 Charity Number 1166638

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31ST DECEMBER 2021

FOR

THE BROWNLEE FOUNDATION (COMPANY LIMITED BY GUARANTEE)

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

INDEX FOR THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31ST DECEMBER 2021

Page
Company Information 1
Report of the Board of Trustees 2-4
Report of the Independent Examiner 5
Statement of Financial Activities 6-7
Balance Sheet 8
Notes to the Financial Statements 9-12

THE BROWNLEE FOUNDATION COMPANY INFORMATION

FOR THE PERIOD ENDED 31ST DECEMBER 2021

Board of Trustees

Trustees A Brownlee
J Brownlee
K Brownlee
R Downey
C Smith
A Duffield
H Evans
M Rasche
J Flatters
Registered Office 1 London Road
Ipswich
Suffolk
IP1 2HA
Registered Company Number 9362584
Registered Charity Number 1166638
Accountants GMS FC Ltd
1 London Road
Ipswich
Suffolk
IP1 2HA
Bankers Santander UK PLC
Santander Corporate Banking
Bridle Road
Bootle
Merseyside
L30 4GB

Page 1

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

REPORT OF THE BOARD

FOR THE PERIOD ENDED 31ST DECEMBER 2021

The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the financial statements for the year ended 31st December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued on 4 March 2005 in preparing the accounts and financial statements of the charity.

PRINCIPAL ACTIVITY

The principal activity of the company is that of advancing work for the benefit of young people. The project helps with the support for these children and associated costs for the provision of recreational and leisure time activities, to develop their skills, capacities and capabilities as individuals.

BOARD OF TRUSTEES

The management of the charity is the responsibility of the Board of Trustees which has the authority to appoint new trustees and directors. The Company’s Board of Trustees consist of: K Brownlee, A Brownlee, J Brownlee, R Downey, C Smith, A Duffield, H Evans, M Rache and J Flatters.

All Trustees served during the full year, with the exception of J Flatters who was appointed in July 2021.

No Trustees have any specific ‘office’ function.

There are no Corporate Trustees and none of the Trustees hold Charity property.

The Charity does not hold funds as custodian trustees on behalf of others.

REVIEW OF BUSINESS

The company is a private company limited by guarantee and is governed by the company's Memorandum and Articles of Association.

RESERVES

The Charity has continued to seek to establish and maintain a level of reserves to enable it to continue its day-to-day operations for the foreseeable future on a stable basis. The trustees have maintained their prudent approach to the management of the charity by ensuring a level of reserves that would be equivalent to the normal running costs of the charity for three months in the unlikely event that funding sources were removed completely. The trustees review the reserves and future requirements at their regular meetings and will endeavour to establish the requisite levels as time progresses and as economic circumstances allow.

RISK MANAGEMENT

The trustees discuss risks associated with the charity and it's activity at regular intervals. Delivery risks are transferred to partners. Where risks cannot be transferred they are managed with controls put in place to minimise the risks occuring.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity is a Charitable Incorporated Organisation (‘CIO’).

The Trustees have been appointed based on their skills and their commitment to the cause of the Charity. There are no specific constitutional provisions relating to the appointment of Trustees.

OBJECTIVES AND ACTIVITIES

Object 1:

The provision of recreational and leisure times activities in the interest of social welfare designed to improve young people's conditions of life.

Object 2:

Providing support and activities which develop young people's skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

Object 3:

To help young people, especially but not exclusively through leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society.

Page 2

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

REPORT OF THE BOARD

FOR THE PERIOD ENDED 31ST DECEMBER 2021

OBJECTIVES AND ACTIVITIES CONTINUED…..

The Charity achieves these aims by organising and supporting school triathlon events which give young people the opportunity to try Swim, Bike and Run activities.

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

ACHEIVEMENTS AND PERFORMANCE

During the course of this reporting period, the decision was taken to cancel all events and activities due to the Covid-19 pandemic. The Charity was able to continue in 2021 by focusing on campaigns to remain involved with schools and to fundraise. The Charity ran a medal challenge involving over 22,000 children, encouraging them to be active.

FINANCIAL REVIEW

The Charity achieved income of £81,427. This was received from sponsors, charity events and grant funding.

Working with schools and partners the charity was able to operate, organise and deliver the events at a cost of just £3,878.

The trustees would like to record their thanks to the following organisations: Aldi, Pho3nix, Olympic Althetes For Good Programme, TriHard Events, The Business Alliance, OTE Sports GB and GMS FC Accountants. All have supported the trust with sponsorship, funding or resources.

A surplus of £44,300 was reported for this year.

The total cumulative reserves now stand at £75,659.

The Charity aims to have reserves sufficient to fulfil its immediate obligations and also to fund the following year’s events.

With an aim to grow the number of events and the supporting follow on activities, the Trustees consider that this level of retained surplus is appropriate for this financial year.

The Trustees consider that the Charity is adequately resourced to continue as a going concern.

Page 3

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

REPORT OF THE BOARD

FOR THE PERIOD ENDED 31ST DECEMBER 2021

PLANS FOR THE FUTURE

At the end of this reporting period, our future plans consisted of the following key themes:

STATEMENT OF THE BOARD AND TRUSTEES RESPONSIBILITIES

Company law and Charity law require the members of the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the stewardship of the resources of the Trust for that period. In preparing those financial statements, the Board of Trustees is required to:-

The members of the Board of Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BOARD OF TRUSTEES

This report has been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities and in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

The Trustees declare that they have approved the Trustees report above at the AGM held on the 4th February 2022.

ON BEHALF OF THE BOARD

K Brownlee

Date: 04-Feb-22

Page 4

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE BROWNLEE FOUNDATION FOR THE PERIOD ENDED 31ST DECEMBER 2021

I report on the accounts of the Brownlee Foundation for the year ended 31 December 2021, which are set out on pages 6 to 12. This report is made solely to the charity's members, as a body. My work has been undertaken so that I might state to the charity's members those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for my examination work, for this report, or for the options I have formed.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

As described above, you are responsible as the charity's trustees for the preparation of the accounts. You consider that an audit is not required this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is our responsibility to:

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations from you as trustees concering any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.

INDEPENDENT EXAMINER'S STATEMENT

In connection with our examination, no matter has come to my attention:

(ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Mr Ian Nicholl FCCA GMS FC Ltd 1 London Road Ipswich Suffolk IP1 2HA

Date: 30-Sep-22

Page 5

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDING 31ST DECEMBER 2021

Incoming resources
Notes
Incoming resources from generated funds
- Voluntary income
- Activities for generating funds
- Investment income
Incoming resources from charitable activities
-
-
Other incoming resources
Total incoming resources
Resources expended
Costs of generating funds
- Costs of generating voluntary income
- Fundraising trading: cost of goods sold
and other costs
- Travel costs
- Distribution costs
- Maintenance costs
- Administrative expenses
Charitable activities
Governance costs
Other resources expensed
Total resources expended
Net incoming resources
before transfers
Taxation
- Taxation
Net incoming resources before other recognised
gains and losses		 Unrestricted
funds
£
-
81,427
41
-
-
81,468
-
3,878
-
33,273
-
-
-
37,151
44,317
17
44,300		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
31.12.21
£
-
81,427
41
-
-
81,468
-
3,878
-
-
-
33,273
-
-
-
37,151
44,317
17
44,300		 Total funds
31.12.20
£
-
60,516
62
-
-
60,578
-
7,946
-
-
28,371
-
-
-
36,317
24,261
24,261

Page 6

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES -continued FOR THE PERIOD ENDING 31ST DECEMBER 2021

Notes
Other recognised gains
and losses
- Gains on revaluation of fixed assets
for charity's own use
- Gains/losses on investment assets
- Actuarial gains/losses on defined
benefit pension schemes
Net movement in funds		 Unrestricted
funds
£
-
-
-
-
44,300		 Restricted
funds
£
-
-
-
-
-		 Total funds
31.12.21
£
-
-
-
-
44,300		 Total funds
31.12.20
£
-
-
-
-
-
24,261

Page 7

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

BALANCE SHEET

FOR THE PERIOD ENDING 31ST DECEMBER 2021

Notes
£
£
FIXED ASSETS
Tangible fixed assets
19
Investments at market value
-
19
CURRENT ASSETS
Stocks
-
Debtors
5
13,500
Cash at bank and in hand
63,608
77,108
CREDITORS : amounts falling
due within one year
Other creditors
6
1,435
Net pension deficit
-
1,435
NET CURRENT ASSETS
75,673
TOTAL ASSETS LESS CURRENT LIABILITIES
75,692
CREDITORS : amounts falling
due after more than one year
33
NET ASSETS
75,659
THE FUNDS OF THE CHARITY
Unrestricted income funds
7
75,659
Restricted income funds
-
TOTAL CHARITY FUNDS
75,659
2021		 2020 2020
£
229
-
-
4,000
28,587
32,587
1,441
-
1,441
31,359
-		 £
229
31,146
31,375
16.00
31,359
31,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their resposibilities for:

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD

K Brownlee Approved by the Board on: 4th February 2022

The notes on pages 9 to 12 form part of the financial statements

Page 8

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31ST DECEMBER 2021

1 ACCOUNTING POLICIES

Accounting convention

The accounts (financial statements) have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

Funds

Unrestricted Funds are those which are used for the general advancement of the The Brownlee Foundation's objectives.

Taxation

Income tax on donations is accounted on a receipts basis and has been recovered up to the period ended 31st December 2021

Incoming resources

Gifts, donations, legacy, and other forms of voluntary income have been included in the Statements of Financial Activities as and when the charity is legally entitled to the income. No permanent endowments have been received during the period.

Donated assets are not valued by the Trustees', nor are they included in donations. This policy is not in accordance with the Charities Act 2011 but the total value is not regarded as material.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that

activity.

Fundraising expenditure comprises costs incurred in encouraging people and organisations to contribute financially to the charity's work. This includes the cost of advertising for donations and the staging of special fundraising events. On certain events the fundraising costs involved have been deducted from the income received. The amounts are immaterial to be reclassified within the financial statements.

Support costs relate to the main activity only, and are therefore disclosed per note two below.

Value Added Tax

Value Added Tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.

2 ANALYSIS OF INCOMING RESOURCES AND RESOURCES EXPENDED

Incoming resources
- Voluntary income
Donations
Income tax recovered
- Activities for generating funds
Fund Raising		 Unrestricted
funds
£
-
-
81,427
81,427		 Restricted
funds
£
-
-
-
-		 Total funds
31.12.21
£
-
-
-
81,427
81,427		 Total funds
31.12.20
£
-
-
-
60,516
60,516

Page 9

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDING 31ST DECEMBER 2021

2 Cont…

- Investment income
Interest Received
41
-
Dividends Received
-
-
41
-
Resources expended
Unrestricted
Restricted
funds
funds
- Charitable activities
Costs of generating funds
3,878
-
3,878
-
Included within the above expenditure are £Nil relating to support costs.
- Governance costs
Audit and Accountancy
720
-
Legal and Professional fees
13.00
-
Administration Costs
32,486
-
33,219
-
- Other resources expensed
Bank Charges and Interest
54
-
Loan Interest
54
-
Total resources expended
37,151
-
3
STAFF COSTS
2021
£
Wages and salaries
24,000
Social security costs
-
Other pension costs
720
24,720
Distribution costs		 41
-
41
Total funds
31.12.21
3,878
-
3,878
720
13
32,486
33,219
54
54
37,151
2020
£
24,000
-
720
24,720		 62
-
-
Total funds
31.12.20
7,946
7,946
234
-
28,027
28,261
110
110
36,317

Members of the Board of Trustees are not paid for their time given to the Charity's affairs.

Page 10

Registered Company Number 9362584 Charity Number 1166638

THE BROWNLEE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31ST DECEMBER 2021

4 TANGIBLE FIXED ASSETS
4
TANGIBLE FIXED ASSETS
COST
At 1 January 2021
Additions
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
At 31 December 2021
NET BOOK VALUE AT 31/12/2021
NET BOOK VALUE AT 31/12/2020
5
DEBTORS:
Amounts falling due within one year
Trade debtors
Other debtors
6
CREDITORS:
Amounts falling due within one year
Taxation and Social Security
Other creditors		 2021
£
13,500
-
13,500
2021
£
345
1,090
1,435		 Plant and
machinery
etc
£
629
629
400
210
610
19
229
2020
£
4,000
4,000
2020
£
351
1,090
1,441

7 DESIGNATED FUNDS

Designated Funds
General Reserves		 Balance
31.12.20
£
-
-
31,359
31,359		 Increases
Decreases
£
£
-
-
-
-
-
44,300
-
-
44,300
-
Movement in resources		 £
-
-
-
-		 Balance
31.12.21
£
-
-
75,659
75,659

Page 11

8 RELATED PARTY TRANSACTIONS

The Charity's Financial Statements were prepared and reviewed by GMS FC, where one of the Trustees is a Director. The engagement was on an arms length basis, approved by the board and the independent review was undertaken by other members of the firm.

The Charity has also received support from A Brownlee and J Brownlee, their commercial businesses and their commercial agents.

There have been no other related party transactions.

Page 12