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2023-12-31-accounts

The Brian D Newman Foundation for the Environment

Unaudited

Annual report and financial statements for the year ended 31 December 2023

Registered Charity No. 1189900

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Contents

Page
Report of the trustees 1-7
Report of the Independent Examiner 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11-16

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report (continued) For the year ended 31 December 2023

The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2023. 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:

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 and below.

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.

3

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report (continued) For the year ended 31 December 2023

Summary of the grants awarded during the year and their purpose

Country Name Summary Amount
(£)
UK Ecological Towards virtual reality experience project to help 2,500
Continuity Trust communicate the importance of environmental
research, particularly in remote areas
UK CPRE Towards advocacy related to preventing biodiversity 10,000
loss caused by inappropriate development
UK Future Trees Trust Towards Silver Birch progeny trials 8,590
UK Surfers Against Towards initiatives to reduce sewage and plastic 2,500
Sewage pollution in waterways and marine environment
UK Sea Wilding Towards progressing seagrass restoration and a 7,000
seagrass nursery in Loch Craignish
UK We Are Grow Towards funding 50 trees agroforestry strip 4,000
Australia Connecting Towards ensuing the continuation of the bird 15,015
Country 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 Environmental Towards restoring the Murray-Darling (rivers) basin to 11,030
Victoria health campaign
Australia Trust for Nature Towards protecting Claims Wanderer habitat 6,015
Total awards for the year £66,650

In addition to the above, the charity incurred other direct charitable expenditure of £2,500 relating to a research project into damage to SSSIs caused by information shortfalls in the conveyancing process

4

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report (continued) For the year ended 31 December 2023

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 was a cash donation of £150,000 received on 28th March 2023, with the associated gift aid of £37,500 received 30[th] May 2023. A subsequent gift of shares was made on 7 September with a total value of £240,800. The charity paid donations totaling £66,650 in 2023 (2022: £98,845). These grants have enabled the recipients to further their charitable purposes.

Other direct charitable expenditure relates to a £2,500 interim payment to a trustee Janet Dear who undertook an internal research project into conveyancing and Sites of Special Scientific Interest (SSSIs). The Trustee was deemed to be the best person to undertake the research having worked for Natural England for over 20 years and experienced much of the damage to SSSIs caused by inadequate information in the conveyancing process. The research was published in May 2024 (another payment of £2,500 was made on completion in 2024) and has been well received by its main target audience – HM Land Registry and Natural England. We believe the price was competitive and that the Trustee was the best person to undertake the research given her professional credentials.

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.

Total funds at the year-end amounted to £2,585,550 (£2,121,937). After investment management fees, there was a capital gain of £46,267 for 2023 (2022: loss £310,137).

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 2023 of having circa 75% of the funds in a well distributed portfolio of highquality European equities, with the balance in cash / bonds. This policy is reviewed annually.

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 £99,996 (2022: £69,950) 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.

5

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report (continued) For the year ended 31 December 2023

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 Royle Accounting, Unit 1, Pluto House, 19-33 Station Road, Ashford, Kent, TN23 1PP.

The Charity’s email address is: BDNFoundation@gmail.com.

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:

6

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Trustees’ Annual Report (continued) For the year ended 31 December 2023

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.

L M Barton Chair of the Trustees

Date of approval:

7

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Independent examiner’s report For the year ended 31 December 2023

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 2023, 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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.

Name: Julie Mutton

Fellow of The Institute of Chartered Accountants in England & Wales

Address: CLA Evelyn Partners Limited 4[th] Floor Cumberland House 15-17 Cumberland Place Southampton Hampshire SO15 2BG

DATE: 21 October 2024

8

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Statement of financial activities For the year ended 31 December 2023

Income
Notes
Donations and
legacies
Investment Income
Total income
Fundraising costs
Investment
management fees
Expenditure on
Charitable activities
Grants
5
Other direct
expenditure
5
Support costs
6
Total charitable
expenditure
Total expenditure
Unrealised
gains/(losses) on
investments
Net
income/(expenditure)
Total funds
brought
forward
Total funds carried
forward		 Unrestricted
Funds
£
Endowment
Funds
£
41,000
387,300
61,958
-		 2023 Total
£
2022 Total
£
428,300
-
61,958
41,571
102,958
387,300		 490,258
41,571
-
(43,022)		 (43,022)
-
(66,650)
-
(2,500)
-
(3,762)
-		 (66,650)
(98,845)
(2,500)
(3,762)
(3,160)
(72,912)
-		 (72,912)
(102,005)
(72,912)
(43,022)		 (115,934)
(102,005)
-
89,289		 89,289
(310,137)
30,046
433,567		 463,613
(370,571)
69,950
2,051,987		 2,121,937
2,492,508
99,996
2,485,554		 2,585,550
2,121,937

All activities are continuing.

The full comparative statement of financial activities is given in note 10.

In 2023 investment management costs were netted against gains and losses on investments.

9

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Balance sheet As of 31 December 2023

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
31 December
2023
£
2022
£
2,550,444
2,093,558
2,550,444
2,093,558
-
-
38,530
31,403
38,530
31,403
(3,424)
(3,024)
(3,424)
(3,024)
2,585,550
2,121,937
2,485,554
2,051,987
99,996
69,950
2,585,550
2,121,937

Approved and signed on behalf of the Trustees

L M Barton, Chair of Trustees

Date of approval:

10

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements For the year ended 31 December 2023

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, 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 income is 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.

11

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2023

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 trustees were remunerated in the period, other than the specific payment of £2,500 for research referred to in the Financial Review on page 5.

Expenses reimbursed to the trustees amounted to nil (2022 - £133).

The donation in the year was received from one of the trustees.

5 Direct charitable activities

Grant Analysis

Charity Name
Conservation, protection and improvement of the
environment
Future Trees Trust
Buglife
We are Grow
CPRE
Trust For Nature
Connecting Country
Environment Victoria
ShareAction
Seawilding
Berkshire, Buckinghamshire and Oxfordshire Wildlife
Trust
Surfers Against Sewage
Subtotal carried over		 2023
£
2022
£
8,590
5,570
-
4,000
10,000
5,000
-
-
6,015
-
15,015
20,015
11,030
10,015
-
10,000
7,000
35,000
-
2,500
5,000
-
64,150
90,600

12

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2023

5 Direct charitable activities(continued)
Grant analysis (continued)
Charity Name		 2023
£		 2022
£
Subtotal carried forward 64,150 90,600
Advancing the education of the public
Ecological Continuity Trust 2,500 2,000
Promoting and facilitating the public enjoyment of
the environment
Kingswood Trust - 6,245
Total 66,650 98,845
All grants were made to institutions and all recipients are charities.
Other direct charitable expenditure
2023 2022
£ £
Conservation, protection and improvement of the
environment
Research project re conveyancing and SSSIs 2,500 -
See the Financial Review on page 3 for more information.
6 Support Costs
2023 2022
£ £
Accountancy 624 624
Trustee expenses - 133
Sundry 5 4
629 760
Governance costs:
Independent examination fees 3,133 2,400
Total 3,762 3,160

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.

13

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2023

8 Investments

1 January 2022
Additions
Withdrawals
Investment management costs
Income receivable
Unrealised gain / (loss)
31 December 2023
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		 2023
£
2022
£
2,093,558
2,385,229
387,300
-
(38,639)
(23,105)
(43,022)
-
61,958
41,571
89,289
(310,137)
2,550,444
2,093,558
2023
£
2022
£
105,770
57,294
451,988
358,863
1,992,686
1,677,401
2,550,444
2,093,558
2023
£
2022
£
1,330,842
1,023,642
749,284
795,804
5,141
5,575
441,519
249,623
23,658
18,914
2,550,444
2,093,558

14

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2023

9 Analysis of Charitable funds

Analysis of fund
movements		 Balance
b/fwd		 Income Expenditure Gains and
Losses		 Balance
c/fwd
Endowment
Funds 2,051,987 387,300 (43,022) 89,289 2,485,554
Unrestricted
funds 69,950 102,958 (72,912) - 99,996
Total 2,121,937 490,258 (72,912) 46,267 2,585,550
Analysis of charitable funds – prior year
Analysis of
Fund
movements		 Balance
b/fwd		 Income Expenditure Gains and
losses		 Balance
c/fwd
Endowment
Funds 2,362,124 - - (310,137) 2,051,987
Unrestricted
Funds 130,384 41,571 (102,005) - 69,950
Total 2,492,508 41,571 (102,005) (310,137) 2,121,937

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.

15

THE BRIAN D NEWMAN FOUNDATION FOR THE ENVIRONMENT Notes to the financial statements (continued) For the year ended 31 December 2023

10 Comparative Statement of financial activities

Income
Donations and legacies
Investment Income
Total
Expenditure on Charitable
activities
Grants
Support costs
Total expenditure
Unrealised losses on investments
Net income
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Endowment
Funds
2022 Total
£
£
£
-
-
-
41,571
-
41,571
41,571
-
41,571
(98,845)
-
(98,845)
(3,160)
-
(3,160)
(102,005)
-
(102,005)
-
(310,137)
(310,137)
(60,434)
(310,137)
(370,571)
130,384
2,362,124
2,492,508
69,950
2,051,987
2,121,937

16