Registered number: CE021399 Charity number: 1188896
THE MALCOLM BRADBURY TRUST CIO
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
THE MALCOLM BRADBURY TRUST CIO
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 3 |
| Trustees' Responsibilities Statement | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 - 12 |
THE MALCOLM BRADBURY TRUST CIO (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | Matthew Bradbury, Chair |
|---|---|
| Patrick Farrant | |
| Louise Doughty | |
| Neil Thompson | |
| Linda Caroline Dixey | |
| Henry Sutton (resigned 26 February 2024) | |
| Christopher Seagers | |
| Angela Robson (appointed 5 April 2023) | |
| Company registered number CE021399 Charity registered number 1188896 Registered office Cutbrush Court Hardingham Road Hingham Norfolk NR9 4LY Accountants MA Partners LLP Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ Solicitors Taylor Vinters LLP Merlin Place Milton Road Cambridge CB4 0DP |
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THE MALCOLM BRADBURY TRUST CIO
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects of the Charity are:
-
to promote the public knowledge and appreciation of the works of Malcolm Bradbury by such means as are charitable; and
-
the advancement and promotion of the arts for the benefit of the public, particularly but not exclusively by the provision or support of educational courses, programmes, activities and opportunities to encourage more people to take part in the arts, particularly those who are disadvantaged socially, economically or through physical or mental health problems.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
In memory of the late author, screenwriter and academic, the Charity seeks to advance and promote the literary arts through educational initiatives. The Charity aims to support and fund educational opportunities for new writers and creatives, meanwhile expanding the the reach of our support to a diverse cohort of students and young people across the UK.
Achievements and performance
a. Review of activities
The Charity awarded two grants to educational institutions during the year. £10,500 was awarded to the University of East Anglia to fund The Malcolm Bradbury Trust Scholarship in Scriptwriting. £5,000 was awarded to the University Centre Peterborough to fund The Malcolm Bradbury Trust Scholarship in Creative Writing.
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THE MALCOLM BRADBURY TRUST CIO (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees are developing the reserves policy.
Structure, governance and management
a. Constitution
The Malcolm Bradbury Trust CIO is registered as a Charitable Incorporated Company and was set up by a Constitution.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members' liability
The Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Matthew Bradbury
Date: 28/01/2025
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THE MALCOLM BRADBURY TRUST CIO (A Company Limited by Guarantee)
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Companies Act 2006. 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.
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THE MALCOLM BRADBURY TRUST CIO
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 21,500 21,500 18,679 18,679 2,821 2,662 2,821 5,483 |
Total funds 2024 £ 21,500 21,500 18,679 18,679 2,821 2,662 2,821 5,483 |
Total funds 2023 £ 1,250 1,250 4,730 4,730 (3,480) 6,142 (3,480) 2,662 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 12 form part of these financial statements.
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THE MALCOLM BRADBURY TRUST CIO
(A Company Limited by Guarantee) REGISTERED NUMBER: CE021399
BALANCE SHEET AS AT 31 MARCH 2024
| Note Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total net assets Charity funds Unrestricted funds 9 Total funds |
2,550 4,637 7,187 (1,704) |
2024 £ 5,483 5,483 5,483 5,483 |
250 3,972 4,222 (1,560) |
2023 £ 2,662 |
|---|---|---|---|---|
| 2,662 | ||||
| 2,662 | ||||
| 2,662 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Matthew Bradbury
Date: 28/01/2025
The notes on pages 7 to 12 form part of these financial statements.
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THE MALCOLM BRADBURY TRUST CIO (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. General information
The Malcolm Bradbury Trust CIO is a private Charitable Incorporated Organisation incorporated in England and Wales and registered with the Charity Commission for England and Wales.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Malcolm Bradbury Trust CIO 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.
2.2 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
2.3 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.
2.4 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 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.
All expenditure is inclusive of irrecoverable VAT.
2.5 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.
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THE MALCOLM BRADBURY TRUST CIO (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.6 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.
2.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.8 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.
3. Income from donations and legacies
| Unrestricted funds 2024 £ Donations 21,500 Total 2023 1,250 |
Total funds 2024 £ 21,500 1,250 |
Total funds 2023 £ 1,250 |
|---|---|---|
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THE MALCOLM BRADBURY TRUST CIO (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. Analysis of grants
| Grants Total 2023 |
Grants to Institutions 2024 £ 15,500 1,800 |
Total funds 2024 £ 15,500 1,800 |
Total funds 2023 £ 1,800 |
|---|---|---|---|
The Charity has made the following material grants to institutions during the year:
| Name of institution National Centre for Writing University of East Anglia University Centre Peterborough |
2024 £ - 10,500 5,000 15,500 15,500 |
2023 £ 1,800 - - |
|---|---|---|
| 1,800 | ||
| 1,800 |
5. Analysis of expenditure by activities
| Charitable activities Total 2023 |
Grant funding of activities 2024 £ 15,500 1,800 |
Support costs 2024 £ 3,179 2,930 |
Total funds 2024 £ 18,679 4,730 |
Total funds 2023 £ 4,730 |
|---|---|---|---|---|
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THE MALCOLM BRADBURY TRUST CIO (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. Analysis of expenditure by activities (continued)
Analysis of support costs
| Accountancy Legal and professional Bank charges Total 2023 |
Charitable activities 2024 £ 864 1,955 360 3,179 2,930 |
Total funds 2024 £ 864 1,955 360 3,179 2,930 |
Total funds 2023 £ 960 1,610 360 2,930 |
|---|---|---|---|
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits.
During the year ended 31 March 2024, no Trustee expenses have been incurred.
7. Debtors
| Due within one year Tax recoverable |
2024 £ 2,550 2,550 |
2023 £ 250 |
|---|---|---|
| 250 |
8. Creditors: Amounts falling due within one year
| Trade creditors Accruals and deferred income |
2024 £ 840 864 1,704 |
2023 £ - 1,560 |
|---|---|---|
| 1,560 |
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THE MALCOLM BRADBURY TRUST CIO
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 9. Statement of funds Statement of funds - current year Balance at 1 April 2023 £ Unrestricted funds General Funds - all funds 2,662 Statement of funds - prior year Balance at 1 April 2022 £ Unrestricted funds General Funds 6,142 10. Analysis of net assets between funds Analysis of net assets between funds - current period Current assets Creditors due within one year Total |
Income £ Expenditure £ 21,500 (18,679) Income £ Expenditure £ 1,250 (4,730) Unrestricted funds 2024 £ 7,187 (1,704) 5,483 |
Balance at 31 March 2024 £ 5,483 Balance at 31 March 2023 £ 2,662 Total funds 2024 £ 7,187 (1,704) 5,483 |
|---|---|---|
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THE MALCOLM BRADBURY TRUST CIO (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
10. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 4,222 (1,560) 2,662 |
Total funds 2023 £ 4,222 (1,560) 2,662 |
|---|---|---|
11. Related party transactions
During the year the Charity received donations totalling £8,500 ( 2023 - £1,000 ) from Matthew Bradbury, a Trustee of the Charity.
During the year Matthew Bradbury, a Trustee of the Charity, waived trustee expenses totalling £753 ( 2023 - £Nil ). He also personally paid and waived £603 ( 2023 - £Nil ) of the Charity's expenditure relating to website costs and photo rights.
During the year the Charity incurred £645 ( 2023 - £700 ) of professional fees payable to Jessica Bradbury. Jessica Bradbury is a close family member of Matthew Bradbury, a Trustee of the Charity.
During the year the Charity paid grants totalling £5,000 ( 2023 - £Nil ) to University Centre Peterborough to fund the Malcolm Bradbury Trust Scholarship in Creative Writing. Matthew Bradbury, a Trustee of the Charity, is a Director.
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