``` REGISTERED CHARITY NUMBER: 1191766 ``` ## **`REPORT OF THE TRUSTEES AND`** ``` UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ``` ## **`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 2024`** ||**`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 11`| ## **`THE BREWERS FOUNDATION CIO`** ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024`** ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended 31March2024.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 the residual £7,213 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'scharitablegiving is directedthroughan accountwith the CharitiesAid Foundation. Grants of £137,860 were made in the period. ``` ## **`FINANCIAL REVIEW`** ## **`Financial position`** ``` TheFoundationcurrentlyholds£276,336inabankaccountand£34,827inaCharitiesAid Foundation account in the name of the Brewers Foundation Trust. ``` ## **`Principal funding sources`** ``` CBrewer&SonsLtdistheprincipalsponsorofthefoundation,lookingtodonatecirca£200,000 per annum. ``` ## **`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. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated charity. ``` ``` Page 1 ``` ``` THE BREWERS FOUNDATION CIO ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 MARCH 2024`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`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 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 4 September 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 2024. ``` ## **`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`** ``` 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 ``` ``` 10 September 2024 ``` ``` Page 3 ``` ## **`THE BREWERS FOUNDATION CIO`** ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024`** |`2024`
`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`207,225`
`Investment income`
`2`
`10,211`
**`Total`**
`217,436`
**`EXPENDITURE ON`**
`Raising funds`
`3`
`2,100`
**`Charitable activities`**
`Grants to institutions`
`143,527`
**`Total`**
`145,627`
**`NET INCOME`**
`71,809`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`749,968`
**`TOTAL FUNDS CARRIED FORWARD`**
`821,777`|`2023`
`Total`
`funds`
`£`
`425,000`
`35`| |---|---| ||`425,035`| ||`-`
`75,067`| ||`75,067`| ||`349,968`
`400,000`| ||`749,968`| ``` The notes form part of these financial statements ``` ``` Page 4 ``` ## **`THE BREWERS FOUNDATION CIO`** ## **`BALANCE SHEET`** ## **`31 MARCH 2024`** |`Notes`
**`FIXED ASSETS`**
`Investment property`
`9`
**`CURRENT ASSETS`**
`Debtors`
`10`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`11`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`12`
`Unrestricted funds`
**`TOTAL FUNDS`**|`2024`
`Unrestricted`
`fund`
`£`
`509,706`
`8,893`
`311,163`
`320,056`
`(7,985)`
`312,071`
`821,777`
`821,777`
`821,777`
`821,777`|`2023`
`Total`
`funds`
`£`
`-`
`-`
`750,977`
`750,977`
`(1,009)`
`749,968`
`749,968`
`749,968`
`749,968`
`749,968`| |---|---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 4 September 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 2024`** ## **`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. ``` ## **`Investment property`** ``` Investmentpropertyis shown at mostrecentvaluation.Any aggregatesurplus or deficitarising from changes in fair value is recognised in the Statement of Financial Activities. ``` ## **`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 2024`** ## **`2. INVESTMENT INCOME`** |`2024`
`£`
`Rents received`
`9,470`
`Deposit account interest`
`678`
`Other interest received`
`63`
`10,211`
**`RAISING FUNDS`**
**`Investment management costs`**
`2024`
`£`
`Professional fees`
`2,100`
**`SUPPORT COSTS`**
`Governance`
`Finance`
`costs`
`£`
`£`
`Grants to institutions`
`669`
`566`||`2023`
`£`
`-`
`35`
`-`| |---|---|---| |||`35`| |||`2023`
`£`
`-`| |||`Totals`
`£`
`1,235`| ## **`3. RAISING FUNDS`** ## **`4. SUPPORT COSTS`** ## **`5. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024nor for the year ended 31 March 2023. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2024norfortheyear ended 31 March 2023. ``` ## **`6. STAFF COSTS`** ``` There were no staff costs during the period. ``` ``` continued... ``` ``` Page 7 ``` ``` THE BREWERS FOUNDATION CIO ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** |**`7.`**|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**|| |---|---|---| |||`Unrestricted`| |||`fund`| |||`£`| ||**`INCOME AND ENDOWMENTS FROM`**|| ||`Donations and legacies`|`425,000`| ||`Investment income`|`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`| |**`8.`**|**`INDEPENDENT EXAMINER'S REMUNERATION`**|| ||`The independent examiner's remuneration totalled £1,062 (2023 - £1,008) for the year.`|| |**`9.`**|**`INVESTMENT PROPERTY`**|| |||`£`| ||**`FAIR VALUE`**|| ||`Additions`|`509,706`| ||`At 31 March 2024`|`509,706`| ||**`NET BOOK VALUE`**|| ||`At 31 March 2024`|`509,706`| ||`At 31 March 2023`|`-`| ``` continued... ``` ``` Page 8 ``` ## **`THE BREWERS FOUNDATION CIO`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** |**`10.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
**`11.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
**`12.`**
**`MOVEMENT IN FUNDS`**
`At 1.4.23`
`£`
**`Unrestricted funds`**
`General fund`
`749,968`
**`TOTAL FUNDS`**
`749,968`
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
`217,436`
**`TOTAL FUNDS`**
`217,436`
**`Comparatives for movement in funds`**
`At 1.4.22`
`£`
**`Unrestricted funds`**
`General fund`
`400,000`
**`TOTAL FUNDS`**
`400,000`|`2024`
`2023`
`£`
`£`
`8,893`
`-`
`2024`
`2023`
`£`
`£`
`7,985`
`1,009`
`Net`
`movement`
`At`
`in funds`
`31.3.24`
`£`
`£`
`71,809`
`821,777`
`71,809`
`821,777`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(145,627)`
`71,809`
`(145,627)`
`71,809`
`Net`
`movement`
`At`
`in funds`
`31.3.23`
`£`
`£`
`349,968`
`749,968`
`349,968`
`749,968`| |---|---| ``` continued... ``` ``` Page 9 ``` ``` THE BREWERS FOUNDATION CIO ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** ## **`12. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`425,035`
`425,035`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(75,067)`
`349,968`
`(75,067)`
`349,968`| |---|---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.4.22`
`£`
`400,000`
`400,000`|`Net`
`movement`
`in funds`
`£`
`421,777`
`421,777`|`At`
`31.3.24`
`£`
`821,777`| |---|---|---|---| ||||`821,777`| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`642,471`
`642,471`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(220,694)`
`421,777`
`(220,694)`
`421,777`| |---|---|---| ``` continued... ``` ``` Page 10 ``` ``` THE BREWERS FOUNDATION CIO ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`** ## **`13. RELATED PARTY DISCLOSURES`** ``` Duringtheperiodthecharityreceivedadonationof£207,225(2023-£425,000)fromCBrewer & Sons Limited, a company in which a majority of the trustees are also directors. ``` ``` ThecharityalsoenteredintoafiveyearleasewithCBrewer&SonsLimitedforletting the investmentproperty.Rentalincomeof £30,000per annum is receivableunder the lease, with £9,471 receivablein respectof the currentperiod.As at the balancesheetdatethereexisteda rent debtor of £8,893, which was paid shortly after the period end. ``` ``` Page 11 ```