## **THE BRASSEY TRUST** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** (Registered Charity No. 209210) ## **THE BRASSEY TRUST** ## **CONTENTS** ||Page| |---|---| |Reference and administraF u n d s|||| |G e n e r a l F u n d||82,220|55,586| |Designated Property Fund||1,240,000|1,240,000| |R e s t r i c t e d
f u n d s|||| |Total Charity Funds|6|1,322,220|1,295,586| ## **THE BRASSEY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** The Brassey Trust is an unincorporated charity registered by the Charity Commission in England and Wales and governed by the Trust Deed dated 1 July 1905. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound. ## **1. Accounting policies** ## **a Accounting convention** The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and SORP 2015. The financial statements have been prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the charity's ability to continue as a going concern, including and possible future impact od Covid-19. The Brassey Trust constitutes a public benefit entity as defined by FRS102. ## **b Funds accounting** General funds are unrestricted funds which are available at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds held on specific trusts under charity law. The specific trusts may be declared by the donor when making the gift or may result from the terms of an appeal for funds. The specific trusts establish the purpose for which a charity can lawfully use the restricted funds. ## **c Income** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of the income receivable can be measured reliably. ## **d Expenditure** Expenditure is recognised once there is a legal or contractive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified as activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Shared costs are apportioned between the activities to which they relate. Support costs are apportioned between the activities being supported. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. ## **THE BRASSEY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** ## **2 Analysis of Property Costs** |Management Fees
Council Tax while property empty
Gardening and Landscaping
Repairs and Maintenance
**3 Investment Properties**
The Brassey Centre
Rosalind's Cottage
Thorndike Cottage
The Temperance Hall
Analysis of movement of investment properties:
Fair value of investment properties at 1 January 2023
Movement in value
Fair value of investment properties at 31 December 2023|**2023**
2022
**£**
£
**3,378**
3,590
**23**
553
**811**
1,658
**6,724**
21,842| |---|---| ||**10,936**
27,646
**2023**
2022
**£**
£
**480,000**
480,000
**315,000**
315,000
**325,000**
325,000
**120,000**
120,000| ||**1,240,000**
1,240,000| ||**£**
£
**1,240,000**
1,240,000| ||**1,240,000**
1,240,000| The investment properties were donated to the Trust and no cost was attributed to them. In accordance with FRS102 principles they are included in the balance sheet at fair value. The investment properties were revalued in 2018 by Sibley Pares, Chartered Surveyors, on the basis of market value. The Trustees do not consider there has been any significant change in their value since this date. |**4 Debtors**
Prepayments and accrued income
**5 Creditors: amounts falling due within one year**
Accruals and deferred income
- rent paid in advance
- other|**2023**
2022
**£**
£
**2,330**
2,600| |---|---| ||**2,330**
2,600| ||**2023**
2022
**£**
£
**-**
1,089
**760**
760| ||**760**
1,849| ## **THE BRASSEY TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** |**6 **|**Statement of funds - Current Year**|**Statement of funds - Current Year**||||| |---|---|---|---|---|---|---| |||Bal b/fwd.|Income|Expenditure|Gains/|**Bal c/fwd.**| |||1 Jan 2023|||(Losses)|**31 Dec 2023**| ||**Unrestricted funds**|||||| ||General Fund|55,586|44,323|-17,689|-|**82,220**| ||Designated Property Fund|1,240,000|-||-|**1,240,000**| |||1,295,586|44,323|-17,689|-|**1,322,220**| ||**Restricted funds**|||||| |||-|-||-|**-**| |||||||| |||||||| ||**Total funds**|1,295,586|44,323|-17,689|-|**1,322,220**| ||**Statement of funds - Prior Year**|||||| |||_Bal b/fwd._|_Income_|_Expenditure_|_Gains/_|**_Bal c/fwd._**| |||_1 Jan 2022_|||_(Losses)_|**_31 Dec 2022_**| ||**_Unrestricted funds_**|||||| ||_General Fund_|_52,565_|_36,912_|_-33,891_|_-_|_55,586_| ||_Designated Property Fund_|_1,240,000_|_-_||_-_|_1,240,000_| |||_1,292,565_|_36,912_|_-33,891_|_-_|_1,295,586_| ||**_Restricted funds_**|||||| |||_-_|_-_||_-_|_-_| |||||||| |||||||| ||**_Total funds_**|_1,292,565_|_36,912_|_-33,891_|_-_|_1,295,586_| ## **7 Analysis of net assets between funds - current year** |Fixed asset investment property
Current assets
Current liabilities|General
Designated
Property
Restricted
**Total Funds**
Fund
Fund
Funds
**31 Dec 2023**
£
£
£
**£**
-
1,240,000
-
**1,240,000**
82,980
-
-
**82,980**
760
-
-
-
**760**
**-**
**-**| |---|---| ||**82,220**
**1,240,000**
-
**1,322,220**| ## **Analysis of net assets between funds - prior year** |_Fixed asset investment property_
_Current assets_
_Current liabilities_|_General_
_Designated_
_Property_
_Restricted_
**_Total Funds_**
_Fund_
_Fund_
_Funds_
**_31 Dec 2022_**
_£_
_£_
_£_
**_£_**
_-_
_1,240,000_
_-_
**_1,240,000_**
_57,435_
_-_
_-_
**_57,435_**
_1,849_
_-_
_-_
_-_
**_1,849_**
**_-_**
**_-_**| |---|---| ||**_55,586_**
**_1,240,000_**
_-_
**_1,295,586_**| ## **8 Transactions with trustees and related parties** No Trustee or connected person received any remuneration, benefits or expenses either directly or indirectly (2022:none). There were no transactions or balances with related parties in the year (2022:none). There were no employees in the year. Accordingly, no employee received total employee benefits of more than £60,000 in the year. ## **9 Commitments not included in the Statement of Financial Activities** At 31 December 2023 there were no commitments (2022:nil) which had been entered into in respect of work to be carried out in 2024.