The Brian D Newman Foundation for the Environment
Unaudited
Annual report and financial statements for the year ended 31 December 2022
Registered Charity No. 1189900
THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Contents
| Page | |
|---|---|
| Report of the trustees | 1-4 |
| Report of the Independent Examiner | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8-13 |
THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report
For the year ended 31 December 2022
The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the Charities Act 2011.
OBJECTIVES AND ACTIVITIES
The purpose of the Charity
The purpose of the Charity, as set out in its objects within the constitution, are to advance for the public benefit the protection and improvement of the environment in the United Kingdom and Australia in particular but not exclusively by:
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(1) the conservation, protection and improvement of the natural environment, including recognised nature reserves, specialist gardens and protected habitats
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(2) promoting and facilitating public enjoyment and appreciation of the natural environment, and
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(3) advancing the education of the public in relation to the protection and improvement of the environment including the support, promotion, and dissemination of research for the public benefit within the United Kingdom and Australia
in such ways as the Charity trustees think fit.
Activities in the year
The Trustees grants for the year are detailed in Note 5 of the report.
Public benefit
The Trustees have had regard to the Charity Commission’s guidance on public benefit and will consider that guidance in their future activities.
Grant making policy
Grants will be made in accordance with the objects of the charity and reflect the recommendations of the trustees and third-party grant applications.
The Charity makes grants to charities in the UK and Australia. Grants to unincorporated associations are limited to £2,500. The Charity considers grant applications from third parties and those nominated by the trustees. There are no multi-year grants, but the Charity will consider supporting applicants over a number of years provided the funds are available.
ACHIEVEMENTS AND PERFORMANCE
The Charity’s work is measured by the degree to which each grant contributes to the stated objectives set out in the respective grant applications of recipients. Progress reports from the recipients are requested before the end of the Charity’s financial year. Local trustee knowledge helps to direct grants and establish whether on-going support can be justified.
All grants made have enabled the recipients to further their charitable purposes.
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report (continued) For the year ended 31 December 2022
Summary of the grants awarded during the year and their purpose
| Country | Name | Summary | Amount |
|---|---|---|---|
| (£) | |||
| UK | Ecological Continuity Trust | Towards Interpretation Boards to explain the | 2,000 |
| importance of long-term ecological | |||
| monitoring experiments. | |||
| UK | Buglife | Towards advocacy - reduce light pollution, | 5,000 |
| chemicals in water and invasive species. | |||
| UK | Berkshire, Buckinghamshire | Towards remedial fieldwork on nature | 5,000 |
| and Oxfordshire Wildlife Trust | reserves. |
||
| UK | Future Trees Trust | Towards superior Silver Birch stock | 5,570 |
| evaluation and progeny trials | |||
| UK | Kingswood Trust | Towards “Days in the wood” nature program | 6,245 |
| for socially and economically deprived | |||
| children. | |||
| UK | ShareAction | Towards embedding biodiversity in the global | 10,000 |
| financial system | |||
| UK | Seawilding | Towards progressing seagrass restoration and | 35,000 |
| a seagrass nursery in Loch Craignish | |||
| Australia | Connecting Country | Towards ensuring the continuation of the bird | 20,015 |
| monitoring program of restored habitats | |||
| which began in 2010 – to better understand | |||
| the threatened Victorian temperate bird | |||
| communities and to gauge the impacts of | |||
| Connecting Country’s landscape restoration | |||
| efforts. | |||
| Australia | Environment Victoria | Towards restoring the Murray-Darling (rivers) | 10,015 |
| basin to health campaign. | |||
| Total awards for the year | 98,845 |
FINANCIAL REVIEW
Financial performance
The Statement of Financial Activities shows the income and expenditure of the Charity for the year, together with the changes in value of the investments. Revenue was generated from the investment portfolio and expenditure was supplemented by funds carried forward from the previous year. There were no capital payments received by the trust in 2022. A cash donation of £150,000 was received on 28th March 2023, with the associated gift aid of £37,500 being received subsequently.
The assets of the Charity at the year-end were primarily the long-term investments representing the endowment fund. The investments primarily comprised equity investments, with a good geographic spread.
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report (continued) For the year ended 31 December 2022
Investment policy
The Charity’s investment policy is to seek income from the portfolio while simultaneously protecting the real value of the Charity’s assets. In conjunction with the asset manager, UBS, the Charity adopted an investment approach for 2022 of having circa 75% of the funds in a well distributed portfolio of high-quality European equities, with the balance in cash / bonds. This policy is reviewed annually. The Trustees do not impose any other restrictions on the investee companies.
Total funds at the year-end amounted to £2,121,937 (£2,492,508). There was a capital loss of £310,137 for 2022 (2021: surplus £127,009).
Reserves
The Trustees are prohibited from spending the permanent endowment fund and therefore the Charity’s free reserves comprise only the General fund, which amounted to £69,950 (2021: £130,384) as at the period end.
The Charity is an endowed, grant making charity with no employees and limited recurring costs. As such, Trustees do not consider that the Charity needs to hold reserves within its general fund. The trustees intend to use the reserves over the coming year to fund further grants.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The Charity was formed as a charitable incorporated organisation on 11 June 2020; its governing document is its constitution.
Appointment of trustees
The initial trustees were appointed by the founder trustee. Future trustees are appointed by the current trustees as a body.
Management
The Charity has no staff and is managed by its trustees.
Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the activities and finances of the charity and are satisfied those systems are in place to mitigate those risks. A risk assessment register is maintained and will be reviewed annually.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name and Registered Number of Charity
The Charity is registered as “Brian D Newman Foundation for the Environment” and its registered number is 1189900.
Principal Address
The principal address of the Charity is: c/o TaxAssist Accountants, Unit 1-3, Pluto House, 19-33 Station Road, Ashford, Kent, TN23 1PP.
The Charity’s email address is: BDNFoundation@gmail.com.
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report (continued) For the year ended 31 December 2022
Names of Trustees
The Trustees who acted during the year and subsequently were as follows:
Louise Maxwell Barton Matthew Beardmore-Gray Janet Clare Dear Elizabeth Ann Skilbeck
Fundraising
The Charity does not undertake any fundraising activities.
TRUSTEES’ RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations).Under that 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 the incoming resources and application of resources of the Charity for that period.
In preparing these financial statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently.
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Observe the methods and principles in the Charities SORP
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Make judgements and accounting estimates that are reasonable and prudent.
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State whether applicable accounting standards have been followed.
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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 proper accounting records which 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the constitution. 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.
Louise Barton
Louise Barton (Sep 26, 2023 15:08 GMT+1)
L M Barton Chair of the Trustees
Date of approval 11 September 2023
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Independent examiner’s report For the year ended 31 December 2022
I report to the trustees on my examination of the accounts of The Brian D Newman Foundation for the Environment for the year ended 31 December 2022, which comprise the Statement of Financial Activities, the Balance Sheet and the notes to the accounts, including a summary of significant accounting policies.
Respective responsibilities of trustees and examiner and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
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.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts 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.
Julie Mutton
Julie Mutton (Sep 26, 2023 15:21 GMT+1)
Name: Julie Mutton
Fellow of The Institute of Chartered Accountants in England & Wales
Address: Evelyn Partners LLP 4[th] Floor Cumberland House 15-17 Cumberland Place Southampton Hampshire SO15 2BG
26/09/2023
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Statement of financial activities For the year ended 31 December 2022
| Notes Income Donations and legacies Investment Income Total Expenditure on Charitable activities Grants 5 Support costs 6 Total expenditure Unrealised gains/losses on investments Net income Total funds brought forward Total funds carried forward |
Unrestricted Funds Endowment Funds 2022 Total £ £ £ - - - 41,571 - 41,571 |
2021 Total £ 1,127,279 22,437 |
|---|---|---|
| 41,571 - 41,571 |
1,149,716 | |
| (98,845) - (98,845) (3,160) - (3,160) |
(90,645) (5,355) |
|
| (102,005) - (102,005) |
(96,000) | |
| - (310,137) (310,137) |
127,009 | |
| (60,434) (310,137) (370,571) |
1,180,725 | |
| 130,384 2,362,124 2,492,508 |
1,311,783 | |
| 69,950 2,051,987 2,121,937 |
2,492,508 |
All activities are continuing.
The full comparative statement of financial activities is given in note 10.
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Balance sheet As of 31 December 2022
| Notes Fixed assets Investments 8 Total fixed assets Current assets Debtors – gift aid Cash at Bank Total current assets Current liabilities Accruals Total current liabilities Total net assets The funds of the charity: Endowment funds 9 Unrestricted funds 9 Total funds |
31 December 2022 31 December 2021 £ £ 2,093,558 2,385,229 |
|---|---|
| 2,093,558 2,385,229 |
|
| - 77,979 31,403 32,267 |
|
| 31,403 110,246 |
|
| (3,024) (2,967) |
|
| (3,024) (2,967) |
|
| 2,121,937 2,492,508 |
|
| 2,051,987 2,362,124 69,950 130,384 |
|
| 2,121,937 2,492,508 |
Approved and signed on behalf of the Trustees
Louise Barton
Louise Barton (Sep 26, 2023 15:08 GMT+1)
L M Barton, Chair of Trustees
Date of approval: 11 September 2023
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements For the year ended 31 December 2022
1 Status
The Brian D Newman Foundation for the Environment (“the Charity”) is a charitable incorporated organisation governed by its constitution dated 11 June 2020. The charity number is 1189900. Its principal address is Unit 1-3, Pluto House, 19-33 Station Road, Ashford, TN23 1PP.
2 Accounting policies
The principal accounting policies are summarised below.
Basis of preparation
The accounts have been prepared in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland (“FRS 102”) and with the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with FRS 102 (effective 1 January 2019).The financial statements are also prepared in accordance with the Charities Act 2011.
The charity is a public benefit entity as defined by FRS 102.
Fund accounting
The funds held as at the year-end are in the form of a permanent endowment fund and unrestricted funds. Income from the endowment is available for the general purposes of the Charity.
Unrestricted funds are spent or applied at the discretion of the trustees to further any of the charity’s purposes. The use of unrestricted funds is not restricted to any particular charitable purpose of the charity. Trustees may choose during the reporting period to set aside (designate) a part of the unrestricted funds to be used for a particular project or commitment.
Going concern
The trustees are confident that the Charity will continue to be a going concern and the financial statements have been prepared on this basis.
Income
All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income, when its receipt is probable and when it can be measured with reasonable certainty.
Expenditure
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs. Costs have been allocated on a basis consistent with the use of the resources.
Grants to beneficiaries
Grants to beneficiaries are recognised when the trustees judge that the recipients have a valid expectation that they will receive the funds. This is usually when the recipients have been informed of the grants and when any substantive performance obligations have been met.
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2022
2 Accounting policies (continued)
Investments
Investments are a form of basic financial instruments and are initially recognised at their transaction cost and subsequently remeasured at fair value at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses on revaluations and disposals throughout the year.
3 Employee information
The Charity had no employees.
4 Trustees
No trustee was remunerated in the period.
Expenses reimbursed to one trustee amounted to £133 (2021 - £44).
5 Grant Analysis
| Charity Name Conservation, protection and improvement of the environment Future Trees Trust Buglife Biolinks Connecting Country Bumble Bee Conservation Trust Environment Victoria ShareAction Seawilding Berkshire, Buckinghamshire and Oxfordshire Wildlife Trust Subtotal carried over |
2022 £ 2021 £ 5,570 23,100 5,000 10,000 - 20,030 20,015 20,015 - 15,000 10,015 - 10,000 - 35,000 - 5,000 - |
|---|---|
| 90,600 88,145 |
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2022
5 Grant Analysis (continued)
| Charity Name Subtotal carried forward Advancing the education of the public Ecological Continuity Trust Promoting and facilitating the public enjoyment of the environment APE Project Kingswood Trust Total |
2022 £ 2021 £ 90,600 88,145 2,000 - - 2,500 6,245 - |
|---|---|
| 98,845 90,645 |
All grants were made to institutions and all recipients are charities other than, in 2021, the APE Project.
6 Support Costs
| Accountancy Trustee expenses Sundry Governance costs: Independent examination fees Total |
2022 £ 2021 £ 624 1,107 133 44 4 4 |
|---|---|
| 760 1,155 |
|
| 2,400 4,200 |
|
| 3,160 5,355 |
7 Taxation
The Charity is exempt from tax on income and gains falling within sections 524 to 536 of the Income Taxes Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the period.
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2022
8 Investments
| 1 January 2022 Additions Withdrawals Income receivable Unrealised (loss) / gain 31 December 2022 Analysis of investments by category of holding Cash and cash equivalents Bonds (listed) Equities (listed) Total Analysis of investments by location Europe United Kingdom Singapore USA Japan Total |
2022 £ 2021 £ 2,385,229 1,311,783 - 924,000 (23,105) - 41,571 22,437 (310,137) 127,009 |
|---|---|
| 2,093,5582,385,229 | |
| 2022 £ 2021 £ 57,294 78,292 358,863 368,769 1,677,401 1,938,168 |
|
| 2,093,5582,385,229 | |
| 2022 £ 2021 £ 1,023,642 1,098,543 795,804 1,004,918 5,575 6,353 249,623 251,155 18,914 24,260 |
|
| 2,093,5582,385,229 |
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2022
9 Analysis of Charitable funds
| Analysis of fund movements Endowment Funds Unrestricted funds Total |
Balance b/fwd Income Expenditure Gains and Losses Balance c/fwd 2,362,124 - - (310,137) 2,051,987 130,384 41,571 (102,005) - 69,950 |
|---|---|
| 2,492,508 41,571 (102,005) (310,137) 2,121,937 |
Analysis of charitable funds – prior year
| Analysis of Fund movements |
Balance b/fwd |
Income | Expenditure | Gains and losses |
Balance c/fwd |
||||
|---|---|---|---|---|---|---|---|---|---|
| Endowment Funds |
1,311,115 | 924,000 | - | 127,009 | 2,362,124 | ||||
| Unrestricted Funds |
668 | 225,716 | (96,000) | - | 130,384 | ||||
| Total | 1,311,783 | 1,149,716 | (96,000) | 127,009 | 2,492,508 |
The endowment fund is a permanent fund and is comprised solely of investments. The income fund is unrestricted and may be used for any general purpose of the charity.
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THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2022
10 Comparative Statement of financial activities
| Income Donations and legacies Investment Income Total Expenditure on Charitable activities Grants Support costs Total expenditure Unrealised gains/losses on investments Net income Total funds brought forward Total funds carried forward |
Unrestricted Funds Endowment Funds £ £ 203,279 924,000 22,437 - |
2021 Total £ 1,127,279 22,437 |
|---|---|---|
| 225,716 924,000 |
1,149,716 | |
| (90,645) - (5,355) - |
(90,645) (5,355) |
|
| (96,000) - |
(96,000) | |
| - 127,009 |
127,009 | |
| 129,716 1,051,009 |
1,180,725 | |
| 668 1,311,115 |
1,311,783 | |
| 130,384 2,362,124 |
2,492,508 |
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