Northbrook Community Trust Registered charity number 1206189 Trustees, Report and Financial Statements Period from 14 December 2023 to 31 December 2024 Trustees, Report Period from 14 December 2023 to 31 December 2024 Report of the Trustees for the period from 14 December 2023 to 31 December 2024 The Trustees are pleased to present their Annual Report and Financial Slatemenls of the Trust for Ihe period from 14 December 2023 to 31 December 2024. The Financial statemenls have been prepared in accordance with the accounling policies and comply wilh the Charily's Trust Deed, the Charities Act 2011 and the Accounling and Reporting by Ihe Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102). Objectives and activities for the public benefit The Trust continues to distribute its income for the benefit of young, disadvantaged people in Devon, in accordan￿ with the Charity Commission Scheme dated 1st September 1995. The Trustees confirm that they have considered the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the granl making policy for the year. Investment Policy and Performance The main objective is to invest in a diversified portfolio of assets, which will include equities both in the UK and globally, fixed interest, alternative assets and cash. The portfolio aims to achieve a steady increase in income and capital appreciation and provide long-term protection against inflation. Only readily realisable securities which are traded on the leading eligible securities markets are held. Where appropriate, collective investments, including active and passive investment vehicles will be used. The portfolio is managed by Charles Stsnley on a discretionary basis and performance is monitored against the MSCI PIMFA Balanced benchmark, which reflects the Trustees, wish to maintain risk toward the upper end of the Medium High risk Gategory, over the medium to long term. The Finance sub-committee meets on a regular basis to review investment performance and discuss possible changes in the investment portfolio with the investment managers. The Trust's investments have continued to be managed in conformity with the policy. Risk management The Trustees review, on a regular basis, the major risks which the Trust faces and believe that they maintain sufficient resources to meet their obligations in the event of adverse condilions. The Trustees have also examined other operational and business risks and confirm that they have established systems to mitigate the significant risks. Plans for future periods The Trustees and the Finance Committee continue to work towards increasing both the capital and income of the Trust so that the Benefits sub-committee can continue to help young people in the county in accordance with the objects of the Northbrook Community Trusl. The Charity now operates as a Charitable Trust from 31 March 2025 and all the assels of the Charity have been transferred to the new Trust. The new Charitable Incorporated Organisation was registered on 14 December 2023. Trustees, Report (continued) Period from 14 December 2023 to 31 December 2024 Reference and administrative information Registered charity name and number: Northbrook Community Trust 1206189 The Trustees who served during the year were.. S J Bright A D S Chapman {Chaimianl Mrs H M Morgan A L Pearce Mrs R M Saltmarsh JP, MBE Mrs J E Maisey R T N Thistlelhwayte Mrs M M Mortimer J. Boles Councillor Tracy Adams D. Law (Appointed 29th November 2024) Correspondence address: POBOX 104 Sidmouth, EX10 1DQ Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Wesl Malling Kent, ME19 4JQ Independent Examiner- Neil Hitchings FCA Francis Clark LLP Centenary House Peninsula Park Rydon Lane Exeler, EX2 7XE Soll¢ltors: Michelmores LLP Woodwater House Pynes Hill Exeter. EX2 5WR Stockbrokers: Charfes Stanley & Co. Ltd. Broadwalk House Soulhernhay West Exeler. EX1 1 TS Trustees, Report (continued) Period from 14 December 2023 to 31 December 2024 Trustees. responsibilities in relation to the financial statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice). The law applicable lo charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity, and of the incoming resources and application of resources of the charity for thal period. In preparing the financial statements the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP., make judgements and estimates Ihat are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust wll continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and lo enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and Ihe provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and deteclion of fraud and other irregularities. JZ J" Signed on their behalf by Receipts and Payments Period from 14 December 2023 to 31 December 2024 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds Receipts Total Receipts Payments Total Payments Net of receiptsl {payments} Cash Funds last year end Total cash funds at year end Statement of assets and liabilities at the end of the period 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds Total cash funds Signed on behalf of the charity's trustees.. 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