REGISTERED CHARITY NUMBER: 1191766
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 12 OCTOBER 2020 TO 31 MARCH 2022
FOR
THE BREWERS FOUNDATION CIO
LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
THE BREWERS FOUNDATION CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 12 OCTOBER 2020 TO 31 MARCH 2022
|
Page |
Report of the Trustees |
1 to 2 |
Independent Examiner's Report |
3 |
Statement of Financial Activities |
4 |
Balance Sheet |
5 |
Notes to the Financial Statements |
6 to 7 |
THE BREWERS FOUNDATION CIO
REPORT OF THE TRUSTEES
FOR THE PERIOD 12 OCTOBER 2020 TO 31 MARCH 2022
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityforthe period
12 October2020to 31 March2022.The trusteeshave adoptedthe provisionsof Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the foundation are:
The prevention and relief of poverty
The advancement of education
The advancement of health through medical treatment and research
Other wholly and exclusively charitable purposes
Significant activities
Themajoractivityintheperiodwasthereceiptofaninitialseeddonationof£400,000fromCBrewer &
Sons Ltd's Charities Aid Foundation account.
Public benefit
Thetrusteeshaveresearchedwaysofmaximisingincomesoastobenefitgoodcausesand have
consideredcharitiesthefoundationmaywishtosupportinfutureperiods,withdueregardfor the
guidance issued by the Charity Commission on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Duringthisinitialset-upperiodthesponsor'scharitablegivinghasbeendirectedthroughthe legacy
CharitiesAidFoundationaccount.Infutureperiodsthefoundationwillmakegrantsanddonations to
selected charities and good causes.
FINANCIAL REVIEW
Financial position
Thefoundationcurrentlyholds£400,000inabankaccount,whileaphasedmovementoffundsis being
arranged from the Charities Aid Foundation account in the name of C Brewer & Sons Ltd.
Principal funding sources
CBrewer&SonsLtdistheprincipalsponsorofthefoundation,lookingtodonatecirca£200,000 per
annum.Thefoundationisintheprocessoftransferringresiduallegacyfundingfromthe company's
charitable account held with the Charities Aid Foundation (CAF).
Reserves policy
Thetrusteeshaveexaminedthefoundation'sneedforreservesinthelightofthemainriskto the
organisation,namelyafallinsponsorincome.Theyaredevelopingapolicywhereunrestrictedfunds not
investedin tangible,or fixed assetsshouldnot be less than six monthsbudgetedcharitableexpenditure. At
presentwhileappropriateincomegenerativeinvestmentsaresought,thereservesremainoutside the
policy level. This will be rectified once funds are invested.
Page 1
THE BREWERS FOUNDATION CIO
REPORT OF THE TRUSTEES
FOR THE PERIOD 12 OCTOBER 2020 TO 31 MARCH 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated
charity.
Recruitment and appointment of new trustees
Inselectingindividualsforappointmentascharitytrustees,thecharitytrusteesmusthaveregardto the
skills, knowledge and experience needed for the effective administration of the CIO.
Newtrusteesareappointedbyameetingofthecharitytrusteesandareappointedforatermof three
years.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1191766
Principal address
Albany House
Ashford Road
Eastbourne
East Sussex
BN21 3TR
Trustees
N Brewer (appointed 12.10.20)
S Brewer (appointed 12.10.20)
A Shoesmith (appointed 12.10.20)
D Thomson (appointed 12.10.20)
Independent Examiner
LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
Approved by order of the board of trustees on 8 January 2023 and signed on its behalf by:
A Shoesmith - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BREWERS FOUNDATION CIO
Independent examiner's report to the trustees of The Brewers Foundation CIO
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheBrewersFoundationCIO (the
Trust) for the period 12 October 2020 to 31 March 2022.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').
I reportin respectof myexaminationof theTrust'saccountscarriedoutunderSection145of theAct and
incarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under Section 145(5)(b) of the Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbe a memberofa listedbody. I
canconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmember of
Association of Chartered Certified Accountants which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention 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 Trust 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
S Murray FCCA
Association of Chartered Certified Accountants
LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
9 January 2023
Page 3
THE BREWERS FOUNDATION CIO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD 12 OCTOBER 2020 TO 31 MARCH 2022
|
|
Unrestricted |
|
|
fund |
|
Notes |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
Donations and legacies |
|
400,000 |
NET INCOME |
|
400,000 |
TOTAL FUNDS CARRIED FORWARD |
|
400,000 |
The notes form part of these financial statements
Page 4
THE BREWERS FOUNDATION CIO
BALANCE SHEET
31 MARCH 2022
|
|
Unrestricted |
|
|
fund |
|
Notes |
£ |
CURRENT ASSETS |
|
|
Cash at bank |
|
400,000 |
NET CURRENT ASSETS |
|
400,000 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
400,000 |
NET ASSETS |
|
400,000 |
FUNDS |
5 |
|
Unrestricted funds |
|
400,000 |
TOTAL FUNDS |
|
400,000 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
8 January 2023 and were signed on its behalf by:
A Shoesmith - Trustee
The notes form part of these financial statements
Page 5
THE BREWERS FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 12 OCTOBER 2020 TO 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
have been prepared under the historical cost convention.
Preparation of the accounts on a going concern basis
Thetrusteesarenotawareofanymaterialuncertaintiesaboutthecharity'sabilitytocontinueas a
going concern.
Income
Allincomeis recognisedin theStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbe usedin accordancewiththecharitableobjectivesat thediscretionof the
trustees.
Restrictedfunds can only be used for particularrestrictedpurposeswithin the objectsof the charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Furtherexplanationofthenatureandpurposeofeachfundis includedin thenotestothe financial
statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 March 2022.
continued...
Page 6
THE BREWERS FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 12 OCTOBER 2020 TO 31 MARCH 2022
3. STAFF COSTS
There were no staff costs during the period.
4. INDEPENDENT EXAMINER'S REMUNERATION
The independentexaminer'sremunerationtotalled£800forthe year.This is to be metby C Brewer
& Sons .
Ltd.
5. MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
in funds
£
400,000
400,000 |
At
31.3.22
£
400,000 |
|
|
400,000 |
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
400,000
400,000 |
Resources
Movement
expended
in funds
£
£
-
400,000
-
400,000 |
|
|
|
6. RELATED PARTY DISCLOSURES
Duringtheperiodthecharityreceivedadonationof£400,000fromCBrewer&SonsLimited, a
company in which a majority of the trustees are also directors.
Page 7