2023-03-31-accounts - The Brewers Foundation

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REGISTERED CHARITY NUMBER: 1191766

`REPORT OF THE TRUSTEES AND`

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

`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 YEAR ENDED 31 MARCH 2023`

	`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 9`

`THE BREWERS FOUNDATION CIO`

`REPORT OF THE TRUSTEES`

`FOR THE YEAR ENDED 31 MARCH 2023`

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31March2023.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
the FinancialReportingStandardapplicablein the UK and Republicof Ireland(FRS 102)(effective1  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`

Themajoractivityin theperiodwasthereceiptof£200,000fromC Brewer& SonsLtdplusthereceipt of
£225,000 from the legacy C Brewer & Sons Ltd 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`

The foundation'scharitablegivingis directedthroughan accountwith the CharitiesAid Foundation. Grants
of £75,067 were made in the period.

`FINANCIAL REVIEW`

`Financial position`

Thefoundationcurrentlyholds£723,966inabankaccountand£27,009inaCharitiesAid Foundation
account in the name of the Brewers Foundation Trust.

`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 YEAR ENDED 31 MARCH 2023`

`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`

`Principal address`

Albany House
Ashford Road
Eastbourne
East Sussex
BN21 3TR

`Trustees`

N Brewer
S Brewer
A Shoesmith
D Thomson

`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 18 January 2024 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 year ended 31 March 2023.

`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
can confirmthat I am qualifiedto undertakethe examinationbecauseI am a memberof the 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

LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE

18 January 2024

Page 3

`THE BREWERS FOUNDATION CIO`

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`

`Year ended` `31.3.23` `Unrestricted` `fund` `Notes` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `425,000` `Investment income` `2` `35` `Total` `425,035` `EXPENDITURE ON` `Charitable activities` `Grants to institutions` `75,067` `NET INCOME` `349,968` `RECONCILIATION OF FUNDS` `Total funds brought forward` `400,000` `TOTAL FUNDS CARRIED FORWARD` `749,968`	`Period` `12.10.20` `to` `31.3.22` `Total` `funds` `£` `400,000` `-`
	`400,000`
	`-`
	`400,000` `-`
	`400,000`

The notes form part of these financial statements

Page 4

`THE BREWERS FOUNDATION CIO`

`BALANCE SHEET`

`31 MARCH 2023`

`2023` `Unrestricted` `fund` `Notes` `£` `CURRENT ASSETS` `Cash at bank` `750,977` `CREDITORS` `Amounts falling due within one year` `8` `(1,009)` `NET CURRENT ASSETS` `749,968` `TOTAL ASSETS LESS CURRENT LIABILITIES` `749,968` `NET ASSETS` `749,968` `FUNDS` `9` `Unrestricted funds` `749,968` `TOTAL FUNDS` `749,968`	`2022` `Total` `funds` `£` `400,000` `-`
	`400,000`
	`400,000`
	`400,000`
	`400,000`
	`400,000`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
18 January 2024 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 YEAR ENDED 31 MARCH 2023`

`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.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthe charityto that expenditure,it is probablethat a transferof economicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.

Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.

`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.

continued...

Page 6

`THE BREWERS FOUNDATION CIO`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`

`2. INVESTMENT INCOME`

`2.`	`INVESTMENT INCOME`
				`Period`
				`12.10.20`
			`Year ended`	`to`
			`31.3.23`	`31.3.22`
			`£`	`£`
	`Deposit account interest`		`35`	`-`
`3.`	`SUPPORT COSTS`
			`Governance`
		`Finance`	`costs`	`Totals`
		`£`	`£`	`£`
	`Grants to institutions`	`143`	`1,968`	`2,111`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023nor for
the period ended 31 March 2022.

`Trustees' expenses`

Therewerenotrustees'expensespaid forthe yearended31 March2023nor forthe period ended
31 March 2022.

`5. STAFF COSTS`

There were no staff costs during the period.

`6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

	`Unrestricted`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`	`400,000`
`NET INCOME`	`400,000`
`TOTAL FUNDS CARRIED FORWARD`	`400,000`

continued...

Page 7

THE BREWERS FOUNDATION CIO

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`

`7. INDEPENDENT EXAMINER'S REMUNERATION`

The independent examiner's remuneration totalled £1,025 (2022 - £960) for the year.

`8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

	`2023`	`2022`
	`£`	`£`
`Other creditors`	`1,009`		`-`

`9. MOVEMENT IN FUNDS`

`At 1.4.22` `£` `Unrestricted funds` `General fund` `400,000` `TOTAL FUNDS` `400,000` `Net movement in funds, included in the above are as follows:` `Incoming` `resources` `£` `Unrestricted funds` `General fund` `425,035` `TOTAL FUNDS` `425,035` `Comparatives for movement in funds` `Unrestricted funds` `General fund` `TOTAL FUNDS`	`Net` `movement` `At` `in funds` `31.3.23` `£` `£` `349,968` `749,968` `349,968` `749,968` `Resources` `Movement` `expended` `in funds` `£` `£` `(75,067)` `349,968` `(75,067)` `349,968` `Net` `movement` `At` `in funds` `31.3.22` `£` `£` `400,000` `400,000` `400,000` `400,000`

continued...

Page 8

THE BREWERS FOUNDATION CIO

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`

`9. MOVEMENT IN FUNDS - continued`

Comparative 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`

`10. RELATED PARTY DISCLOSURES`

Duringtheperiodthecharityreceivedadonationof£425,000(2022-£400,000)fromCBrewer &
Sons Limited, a company in which a majority of the trustees are also directors.

Page 9