Registered Company Number 9362584 Charity Number 1166638
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31ST DECEMBER 2022
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 2022
| 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 2022
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 | Metro Bank PLC |
| One Southampton Row | |
| London | |
| WC1B 5HA |
Page 1
Registered Company Number 9362584 Charity Number 1166638
THE BROWNLEE FOUNDATION
REPORT OF THE BOARD
FOR THE PERIOD ENDED 31ST DECEMBER 2022
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 2022. 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.
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.
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Registered Company Number 9362584 Charity Number 1166638
THE BROWNLEE FOUNDATION
REPORT OF THE BOARD
FOR THE PERIOD ENDED 31ST DECEMBER 2022
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 organisation has organised and supported twelve events involving around 10,329 young people. These events have been run in 2022 predominantly in Yorkshire, the Midlands, Manchester and North Wales and have involved as many local schools as possible. However, the Trustees recognise the opportunity to increase participation on a wider national scale. Young people involved with the events have had the opportunity to try sports, meet some Olympic medallists and hopefully feel inspired to continue to participate in one or all of the three sports by joining local supporting clubs and organisations.
FINANCIAL REVIEW
The Charity achieved income of £195,415. 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 £123,023.
The trustees would like to record their thanks to the following organisations: The Pho3nix Foundation, Aldi, Harmony Energy, HUUB, Tata Steel UK, HSBC UK, JMW Solicitors, AVIS UK, GMS FC Accountants, the Bike Register, Active Leeds, Bradford Grammar, York Sport Village, Hymers College, Minsthorpe Leisure Centre, Springs Academy and Leisure Centre, Hough End Leisure Centre, MCR Active, Handsworth Wellbeing Centre, Mold Leisure Centre, Corby International Pool, Moorways Sports Village and Everyone Active. All have supported the trust with sponsorship, funding or resources.
A surplus of £24,627 was reported for this year.
The total cumulative reserves now stand at £100,286
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.
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Registered Company Number 9362584 Charity Number 1166638
THE BROWNLEE FOUNDATION
REPORT OF THE BOARD
FOR THE PERIOD ENDED 31ST DECEMBER 2022
PLANS FOR THE FUTURE
At the end of this reporting period, our future plans consisted of the following key themes:
-
an aim to grow the number of events and the supporting follow on activities
-
to increase participation on a wider national scale.
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:-
-
select suitable accounting policies and then apply them consistently
-
observe the methods and principles in the Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in existence.
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 2023.
ON BEHALF OF THE BOARD
K Brownlee
Date: 27-Jan-23
Page 4
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE BROWNLEE FOUNDATION FOR THE PERIOD ENDED 31ST DECEMBER 2022
I report on the accounts of the Brownlee Foundation for the year ended 31 December 2022, 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:
-
examine the accounts under the section 145 of the 2011 Act;
-
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to our attention.
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:
-
(i) which gives us reasonable cause to believe that, in any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
(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-23
Page 5
Registered Company Number 9362584 Charity Number 1166638
THE BROWNLEE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDING 31ST DECEMBER 2022
| 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 £ - 195,415 1,036 - - 196,451 - 123,023 - 48,828 - - - 171,851 24,600 27 - 24,627 |
Restricted funds £ - - - - - - - - - - - - - - - - - - |
Total funds 31.12.22 £ - 195,415 1,036 - - 196,451 - 123,023 - - - 48,828 - - - 171,851 24,600 27 24,627 |
Total funds 31.12.21 £ - 81,427 41 - - 81,468 - 3,878 - - 33,273 - - - 37,151 44,317 17 44,300 |
|---|---|---|---|---|
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Registered Company Number 9362584 Charity Number 1166638
THE BROWNLEE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES -continued FOR THE PERIOD ENDING 31ST DECEMBER 2022
| 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 31.12.22 £ - - - - 24,627 |
Total funds 31.12.21 £ - - - - - 44,300 |
|---|---|---|---|---|
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Registered Company Number 9362584 Charity Number 1166638
THE BROWNLEE FOUNDATION
BALANCE SHEET
FOR THE PERIOD ENDING 31ST DECEMBER 2022
| Notes £ £ FIXED ASSETS Tangible fixed assets 4 0 Investments at market value - CURRENT ASSETS Stocks - Debtors 5 20,000 Cash at bank and in hand 81,844 101,844 CREDITORS : amounts falling due within one year Other creditors 6 1,552 Net pension deficit - 1,552 NET CURRENT ASSETS 100,292 TOTAL ASSETS LESS CURRENT LIABILITIES 100,292 CREDITORS : amounts falling due after more than one year 6 NET ASSETS 100,286 THE FUNDS OF THE CHARITY Unrestricted income funds 7 100,286.00 Restricted income funds - TOTAL CHARITY FUNDS 100,286 2022 |
£ £ 19 - 19 - 13,500 63,608 77,108 1,435 - 1,435 75,673 75,692 33 75,659 75,659 - 75,659 2021 |
|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their resposibilities for:
-
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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: 27th January 2023
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 2022
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 2022
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 £ - - 195,415 195,415 |
Restricted funds £ - - - - |
Total funds 31.12.22 £ - - - 195,415 195,415 |
Total funds 31.12.21 £ - - - 81,427 81,427 |
|---|---|---|---|---|
Page 9
Registered Company Number 9362584 Charity Number 1166638
THE BROWNLEE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDING 31ST DECEMBER 2022
2 Cont…
| - Investment income Interest Received 1,036 - Dividends Received - - 1,036 - Resources expended Unrestricted Restricted funds funds - Charitable activities Costs of generating funds 123,023 - 123,023 - Included within the above expenditure are £Nil relating to support costs. - Governance costs Audit and Accountancy 540 - Legal and Professional fees - Administration Costs 48,240 - 48,780 - - Other resources expensed Bank Charges and Interest 48 - Loan Interest 48 - Total resources expended 171,851 - 3 STAFF COSTS 2022 £ Wages and salaries 26,879 Social security costs - Other pension costs 978 27,857 Distribution costs |
1,036 - 1,036 Total funds 31.12.22 123,023 - 123,023 540 48,240 48,780 48 48 171,851 2021 £ 24,000 - 720 24,720 |
41 - - Total funds 31.12.21 3,878 3,878 720 13 32,486 33,219 54 54 37,151 |
|---|---|---|
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 2022
- 4 TANGIBLE FIXED ASSETS
| 4 TANGIBLE FIXED ASSETS COST At 1 January 2022 At 31 December 2022 DEPRECIATION At 1 January 2022 Provided during the period At 31 December 2022 NET BOOK VALUE AT 31/12/2022 NET BOOK VALUE AT 01/01/2022 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 Accruals and deferred income 7 DESIGNATED FUNDS Balance 31.12.21 £ Designated Funds - - General Reserves 75,659 75,659 |
Increases Decreases £ £ - - - - 24,627 - 24,627 - Movement in resources |
2022 £ 20,000 - 20,000 2022 £ 435 187 930 1,552 £ - - - - |
Plant and machinery etc £ 629 629 610 19 629 0 19 2021 £ 13,500 13,500 2021 £ 345 160 930 1,435 Balance 31.12.22 £ - - 100,286 100,286 |
|---|---|---|---|
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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.
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