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2024-03-31-accounts

Charitable Incorporated Organisation registered number: 1198940

THE BRAITHWAITE TRUST

Report and Financial Statements Year ended 31 March 2024

THE BRAITHWAITE TRUST

REPORT AND FINANCIAL STATEMENTS CONTENTS Page Trustees’ report 1 Receipts and payments account 4 Statements of assets and liabilities at the end of the year 5 Independent Examiner’s report 6

THE BRAITHWAITE TRUST

REPORT AND FINANCIAL STATEMENTS

TRUSTEES’ REPORT

The trustees present their annual report and the financial statements for the year ending 31 March 2024 with comparisons for the period ending 31 March 2023. The financial statements have been prepared in accordance with the Charities Act 2011, Section 133 on the Receipts and Payments basis.

LEGAL AND ADMINISTRATIVE DETAILS

Trustees

Martijn Mugge Margaret Harrison Michael Rigby Mark Harewood Paul German (appointed 11[th] May 2023)

Charity’s Principal Address

8 Castle Avenue Conisbrough DN12 3BT

Independent Examiner

Rachel Field ACA 20 Chorley Drive Sheffield S10 3RR

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THE BRAITHWAITE TRUST

TRUSTEES’ REPORT (continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trust was registered as a Charitable Incorporated Organisation (registration number 1198940) with the Charity Commission on 12[th] May 2022. The Trust is required to have a minimum of three trustees. 5 trustees served in the year to 31 March 2024. Future trustees are to be appointed by a properly convened meeting of the Charity Trustees. All trustees must subscribe and adhere to, in belief and lifestyle, the Statement of Faith.

Management of risk

The Trust’s activities have been, and will continue to be, the funding, purchasing and management of property to support the objects of The Trust and the financial support of Christian ministry through local churches and other charitable organisations. The Trustees consider there to be little risk to manage as there are no loan repayments or interest, maintenance costs are modest, and rental income is reasonably assured.

OBJECTIVES AND ACTIVITIES

The Trust’s objective is to advance the Christian religion for the benefit of the public; and to advance Christian education and learning for the benefit of the public.

The founding Trustees have set up The Trust in commitment to the evangelical tenets of the Christian faith and therefore the activities of The Trust will only be to support evangelical Christian ministry.

The Trust’s activities during the year ended 31 March 2024 have been to purchase a suitable property for a church worker.

The Trustees are aware of the requirements for the Trust, as a registered Charitable Incorporated Organisation, to be acting in the public benefit, and the Trustees are of the view that the Trust’s activities are in the public benefit as defined by the Charity Commission.

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THE BRAITHWAITE TRUST

TRUSTEES’ REPORT (continued)

ACHIEVEMENTS AND PERFORMANCE

During the year to 31 March 2024, the charity purchased a property in Conisbrough. As no church worker had yet been recruited the property was let to another individual.

Related party transaction

Martijn Mugge, Michael Rigby and Margaret Harrison (all trustees during the period) were members of the PCC of St. Peter’s Conisbrough with Clifton Church during the period. It is intended that the property purchased will be rented to St. Peter’s PCC to provide housing for a Children, Youth and Families Minister employed by the church.

FINANCIAL REVIEW

During the year to 31 March 2024 the Trust received donations of £500 (previous period: £155,516) and purchased a property for £125,000 with funds received in the previous period. Total cash funds at the end of the period were £30,905.

Reserves

The Trust does not have a reserves policy as rental income from the property covers maintenance costs, and grants will only be awarded when adequate funds are available.

This report was approved by the Trustees on 6[th] August 2024 and signed on their behalf by

Martijn Mugge Paul German

Trustee Trustee

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THE BRAITHWAITE TRUST

RECEIPTS AND PAYMENTS

For the year ended 31 March 2024

Year ended 31 March 2024

Receipts
Donations
Rent
Total receipts
Payments
Purchase of property
Legal and professional fees
Maintenance and utilities
Total payments
Net receipts/(payments)
Cash funds from previous period
Cash funds at 31 March 2024		 General
Fund
£
500
2,010
2,510
40,291
870
1,091
42,252
-39,742
70,647
30,905		 Designated
Fund
£
-
-
-
84,709
-
84,709
-84,709
84,709
0		 Year to
31.3.2024
Total
Period to
31.3.2023
Total
£
£
500
155,516
2,010
2,510
155,516
125,000
870
160
1,091
126,961
160
-124,451
155,356
155,356
-
30,905
155,356

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THE BRAITHWAITE TRUST

STATEMENT OF ASSETS AND LIABILITIES

31 March 2024

Assets retained for charity's own use
Property
Cash funds
Virgin Money Bank Account		 31 March
2024
125,000
30,905		 31 March
2023
£
0
155,356

The Trust has no other assets and liabilities.

Specifically, it has given no guarantees and has no debt outstanding at the year end.

These financial statements were approved by the Trustees on 6[th] August 2024 and signed on their behalf by,

Martijn Mugge Paul German Trustee Trustee

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THE BRAITHWAITE TRUST

INDEPENDENT EXAMINER’S REPORT

for the year ended 31 March 2024

Independent Examiner’s Report to the Trustees of The Braithwaite Trust (registered charity number 1198940)

I report on the financial statements of The Braithwaite Trust (the ‘Charity’) for the year ended 31 March 2024.

The report is made solely to the trustees of The Braithwaite Trust, as a body, in accordance with the regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity’s trustees those matters I am required to state to them in the independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and its trustees, as a body, for my work, for this report or for the opinions I have formed.

Respective responsibilities of trustees and examiner

The Charity’s trustees are responsible for the preparation of the financial statements. The Charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:

Basis of Independent Examiner’s statement

My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a comparison of the financial statements with the accounting records kept by the Charity. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

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Independent Examiner’s statement

In connection with my examination, no matter has come to my attention

have not been met; or

Signed:

Name: Rachel Field

Relevant professional qualification or membership of professional bodies: ACA Address: 20 Chorley Drive, Sheffield S10 3RR

Date:8[th] June 2024

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