**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 **1** ## **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. **2** ## **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 **3** ## **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| **4** ## **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 **5** ## **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: - examine the financial statements under section 145 of the Charities Act 2011; - follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011; and - state whether particular matters have come to my attention. ## **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. **6** ## **Independent Examiner’s statement** In connection with my examination, no matter has come to my attention - (i) which gives me reasonable cause to believe that in, any material respect, the requirements: - to keeping accounting records in accordance with section 130 of the Charities Act 2011: and - to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Charities Act 2011 have not been met; or - (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached 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 **7**