Charity roglslratlon number: 213407 BRUNTS CHARITY Flnanclal Statemènts For th• year ended 31 March 2025 "Brunts Charity Provldes & Promotes Independent Living & Well-being For Those In TheirLater Years"
BRUNTS CHARITY Charity Infomiation for the year ended 31 March 2025 Contsntg Pago Chartty Informatlon Trustees. Report 3-10 Auditols Report statement of Compr8h8nsive Income 15 Balance Shoot 18 Statemenl of Changes in Re89rve8 17 St8t8m8nt of Ca8h Flows 18 Note8 to the Flnandal Statements 19-28
BRUNTS CHARITY Charlty Inlomiatlon for the year endèd 31 March 2025 Charlty Reglstration Numb?r 213407 Trustses Co*OPtatlve Trusteos D Undy- Chair of Trustee8 S Higgln$- Vlce Chair of Truste83 M Sag8 J Benson R Bottomley l Jackson Ropreoentatlvo Trusteos CHrS Garner Cllr T Clay Cllr J Coxhead Cllr P Henshaw Place of Bu$lnos• Brunts Chambers 2 Toothlll Lane Mansfield Nottingham8hlre NG18 1NJ Audltor Barnett & Tumer Accountants Ltd Chartered Accountants and Statutory Auditor8 Cromwell HouA8 68 W88t Gate MBn8field Nottlnghamshlre NG18 1RR Sollcltor Bryan & Arm8trong The New Meeting House St Peterfs Court Statlon Street man$f]d Nothnghamshlre NG18 1EF Bankers National Westminster Bank F4c 9 Church Street Mansfield Nottlnghamshlre NG18 1AF
BRUNTS CHARITY Charlty Infomiatlon for the year endod 31 March 2025 InVtrynt Manag8rs CCLA Inv8stment Management Ltd COIF Charity Funds 80 Cheap$ide London EC2U 6DZ Rathbon8s Port of Llv8rpool Bulkllro Pler Head Llverpool L3 1NW
BRUNTS CHARITY Tru•tsg's Report For the y•ar ended 31 March 2025 The Trustees of Brunls Charity present thèlr report and the audited finanual statements of the Charfty for the year ended 31 Mar¢h 2025. Truste Th8 Trustses who havè served durtng the year re a8 follows: CoboPtath• Tru8t•o$ D Undy.. Chair of Brunts Charlty S Hlgglns '. Vlce Ch81r of Brunts Charfty M Sage '. Trustoe J Benson - TTusle8 R Bottomley - Trustee l Jackson - Tru8ts0 Rapr•*•ntatlv• Trust•O8 Cllr S Garner INottlngh8mshire County Counell R8presentatr48) Cllr T Clay (Mansfi8ld Distn'ct Council) Cllr J Coxhead {M8nsfleld Dlstri¢t Councll) Cllr P Hen8haw (Mansfleld Dlstrl¢t Councll) 8enlor Managemènt L P Wllllam8 '_ Chief Ex0Jt1vO Officer A Hopklnson ' . Operalions Director M Jow8tt- AdmInIstrave Executlve . Delegated Senlor Management Team appolnted to deal with day-to-d8y operational m8tter8 on behall of the Board of Truste88. Rovlew of the bu8ln•ss The Brunts Charlty, w&8 founded back in 1711 under the wlll of Mr Samuel Brunts, which appolnted Guardlans to manage hls 85tates end carry out hi3 bequests vthlch at the time were to provide financial asslstance for the education of poor chlldren and pay regular sums to elderfy poor p8r8ons wlthin the Borough of Mansfleld and further malntain prop6ty repalrs and collection of Its Nowwhamshlre rents. During 1884. agitation was made by inhabilants of Mansfield for a new scheme. The Charity Commission wère applied to, and the first proposllon made by them was to strtke off all pensloners, untll a new schemo could be drafted. However, the Guardian8 at the tima. could not agree to that and a comprom188 wa8 made where exlsting pensioners remained, but no new ones were added. Between 1884 to 1893. thè number of pensioners reduced by death and othér c8u8eJ from 450 to 180. In 1891 a now fych8m8 was adopted, Including fund8 9fv8n to BNnts Guardians, und8r the will of Chart8$ Thornpson, where the Charty then provided bNO and a half acres of18nd and £6,000 towards the building of school premlses, called The Brunts Technlcal School. A further conlrlbutlon of IWD and a half acres of land were additlonalty provided Ythere a girls school was erected in connection wlth The Queen Elizabeth's Endowed Grammar Sch)ol (now Queon Elkabeth'5 Academy).
BRUNTS CHARITY Trustse$' Report for the year ended 31 March 2025 By 1895, Guerdians were fiJrth8r appolrrted to the scheme whlch conslsted of elght repreSentate and five C optative members. and In 1911. with yearly incomo increasing, Trusl&&8 were able to support over 558 elderly persons and provided £1.000 a year to the Govemors of The Brunts Grammar School (now Brunts Acad8myl. In 1948 The Gharity CommlSSkoll 8greed that the Guardians Committee should cease to exist on thè comir of The Natlonal Assl8tsnce Act 1948, By 1950, eleven new Trustses were appolnted to the Brunts Chadty and by 1958 the Charlty scheme had evolved to Include the management of lands {allotments>, 1985es (propety) and thé provEslon for repalr and Insuran¢8. The ckwrity also paid out sum5 of money, initially £1 (now £120) to The John Ffekher Congregatlon (now the Unltarlan Chapel), £1,000 to Ihe Govemors of The Brunts Grammar School (now Bwnts A¢ademyl and residual Incom8, Trjt to exceed £1.000 In any one year (vla &)vernors of Th8 Ch8rity Commtsslon) for tho general b8n&flt of the poor. Th18 would have covered Items 8uch as grants for beddlng, dothing, food, furnlture, a weekly allowance tx glfts in money to reduce 8l¢kn8ss. infim)ity or dlstre88. AddlOnallY. payments could be made to almshou8e8 and other charitabl8 institutions or organts8tlons who had simllar objects that would beneflt the p¢)or In the area, such as subscriptions to home8, hostels for the resldents or car6 of th6 old, Infim or homeless. Brunts Ch8rlty number 213407 was formally reglstered vla The Charfty Commisslon dat8d, 29 Nwmber 1962 and amalgarnated the Charlty. fomially known as John Greenwood (235191) Into Brunts Charfty (213407). By 1963 the Chaflty scheme record8 the introdu¢lion of alm8hou888, wlth prop8rt188 b8lng purchased, and It 18 from her8 that the Ch8rityB maln purpose was established, to provide IowwCOSt accommodallon and f8c111118S to the old8r generation In need wlthin the Mansfield Distrlct. Speclfic nots was made thal the Charity Trustees Should apply Income of the Charity for the benefit of the resldgnts In 8uch manner as the Tru8tee8 thlnk fit and that alm$hou8es 8houkl bg provlded to thoB8 In noed of good character and r68ldlng In the Borough of Mansfield. Slnce the Charity wa8 con8titul8d on 8 July 1958, and the Inceptlon of th6 Charlty becoming an AlmBhou80 Charity, there have been numerous rev181ons, upd8tlng the 8ch8m8. How8v8r. th8 sch8m6 ob5ects and deslgn8tion remaln8 the same to th18 day. The Incept1 ol lh8 Chadty came under the Charftable Trust Acts of 1853 and 18 regulated by the current Schome of th& Charlty Commlslonerf8 datèd 10 May 2007. ObJoctlvo8 and slr4tagle8 for achlovlng tho•e obJOGtlves Hlstorlcally, th8 Charfty alded fhe comrnunlty In meetlng the Govemotrg ghare of the cost of bulldlng the flrst INO phases of the new Brunts Sthool (now Brunts Academy), prlor to It b91ng placed under the Counly Educallon81 System. In 1977. th8 agreem8nt of the Charity Commisslon, Brunts Charlty became the custodians of John Greenwood Charlty. and six new almshouses were erected in 1978 to replace Greenwood's old alm$house8. It is duriro this pariod that the Charity became offictally registered as a Houslng A88£tatIOn. Today the Chartty contlnuès to carry out the ortglnal bequests of Samuel Brunts In contlnulng its charitable objects, which provides 153 almshouses across two geographlcal sites, wlth addllional communlty hub faclllties, open spaces, welfare 8UPPOrt and safeguardlng assurance wllhln an Independent living envlronment. This is provided for those fulfilliNJ the charstabSe crfterla, vthich Is to dder people over 60 years (55 with severe medlcal or disability iSSLS) residing (or having an association) within Mansfield and District arKI who ere on low Income means or hav6 Gomplgx medlcal Issues. In addltion to its core function. the Charity continues to make annual payments to toth Mansfield Educati¢)nal Found8tion and The Old Meeting House (Unitarian Chapel) and provides wider on8-off grants, penslons and other support to older pèople withln the community identifi1 within Ihe scope of the Scheme.
BRUNTS C14ARITY Tru$toes' Report for tho year ended 31 March 2025 Princlpal rfsks and uncortalntlO8 The Ttee$ hav8 overall SponsIblty for eslabli8hing and malntaining the wholè systsm of InteTnd contrd and for revlewing its effeGtiv8ne8S. The Trust88s recognise that no system of intsmal contrd can provld8 absolute assurance or 815mine all rl3k. The system of Intem81 ntrol Is deslgned to m8nage dsk and to provlde reasonable assurance Ihat key business objectlves and expected outcomes will be achieved. It 8180 exists to give reasonabl& 8ssuran(* about Ihe preparatlon and reliabllty af flnancial and operaiional Infomatlon and the safegu8rding of the Charity's assets and int8re8ts. The Charity relies on Income from property and Its Investment portfolio and hen¢8 p8rform8n¢e in th8se are88 1$ ¢on81der8d kay to furthering the Charltys Objecve8. Maln tronds and factors undorlyln9 tho dov•lopment and pofvman¢o and po8ltlon of tho Charlty Arfslng out of the proceeds from the sal8 of conslderable Smounls of land and prop6ty Dwn8d by the Charlty In NottSngham, Mansfleld and other parts of the County by Cornpulsory Purchase Ordèrs In 1963, the prLKeeds from these sales were Invested to provide for the provislon and malntsnanc8 of alM8hoL8S ft)r oldèr, in-need person8 from wlthln the old Borough of M8n8field. At thi$ wegont tlm8, ther8 are 153 unlts ol alm$hou8e 8ccommodatlon balonglng to the Charity sliuatod as follow8: Champlon Cr88cenVW88ffield L8n8 Samuel Close The P8tGhllls, off E8krfng Road John Greenwood - The Palchi118 The Patch1118, off Eakring Road The Patchllls, off E8krlng Road 40 Almshouses 18 Almshou8e$ 50 Am8hou8e8 6 Almshou895 25 Flats 14 Two bedroomed seml4etachod bung81ows The Charlty contlnue8 to r8taln18nd at Balmoral Drlve (2.2 acr88) whlch Is currently under offer for sale and the fund8 8cqulr6d wlll be invesled to provlde future raturns to support the Charitys activitles. Analy•l8 uslng flnan¢lal and non41nan¢lal k•y p•rfOrnIan Indlcator• The Charfty presents Its annual r•port In accordance wlth the requlrements of FRS 102. The Income of the Charfty Is derfved from Its portfollo of managed Inv85trn8nts and from slx owned commerc181 retall propèrtiès sltetl at Brunts Chambers on Toothill Lane and Leeming Street, Mansfield. other income Is derived from Bank and Bulldlng Society Accounts and short term money market bonds, together wth a grant Irom Nottinghamshire County Council towards the day to day runnlng of the ch8rnpn Crescent Community Centr8, which 1$ used internally and externally for the soei81 well.belng of Ihe older genernuon. Addltlonal Incom8 Is derived from residents, weekly maintenance contributions that 8UPPOrt the runnlng. repalr and malntsnance of propertles and estates, and a smdl income from th9 Patchllls and Champlon Crescent Communlty Centres, Ihrough room ren181 and the use of facllives. The Charity malntalns Its 8lmshouses to a very htgh standard fmm the heavily subsldi58d weekly mahtenance charge5 Imposed and expendlture is strlcly controlled to ensure the Gharlty operates wlthin its financiel means and Iherefore do88 not put itself at ri$ Th8 Charity, through strict financial managem8nt contrds. fe8ls it operate5 5ufficiendy using its existlThJ ncorne streams and Ih8refor8 does not envlsage having to enlist the services of a professlonal fund ralser in the foreseeable future,
BRUNT8 CHARI Trusl¢e$' Report for the year ended 31 March 2025 Th8 Chaiity had an operating deficit for the year of £82,000 after deprecA8tion {2024'. £159,000). exduding unreallsed Invéstment movèmènts and Interest. Thls result Includes provision for the Charivs current penslon deficit, as 8hown in note 14 to the financial statements. Income from contributions from residents Incr888ed from £647,000 In 2024 to £694.000 In 2025. Other income reduced durlng the year to £306,00012024: £358.000). Operafjng costs reduced to £1,082,000 (2024.. £1.164,000). An annual grant of £1.01)O connUeS to bo pald to th? Brunts Schocl (now Brunts Acgdemy) vlg the Mansfleld Educ8tlonal Foundalton, as does a yearly grant of £120 to the Unltarian Chapel Wardens. Durlr¥J ts year to 31 March 2025, a totsl of £28,039 (2024: £23.532) w8s paid out in the fom of other grants. After laklng a¢Unt of galns and losses on investment ass8t8 ther8 was a reduction In fund8 of £7T.000 for the year. Thls represented an Increase of £8,000 on Restrl¢ted Funds. 8 reductlon 01 £98.000 In Unrestrlctsd Funds. Including a transf8r of £302,000 from Endowment fund8, and an In¢rea88 of £13,() on Endowment funds, aftar tha tranor and unréaliséd Snvèstrnent movements In thè year. The movem8nt In lund8 represents a reductlon In tho levgl of not currgnt assets of £952,000 when comp8r• 10 2024 and 8 rgductlon of £77.000 In the level of net assats. Total frjnds at 31 March 2025 were £16,229,000 of which £9,858,OfM) wgr• unrestrlcted. The fund b818nc88 include £7,931,CrfIO represented by unrealised gains on investments. In the opinlon of the Trustees the ng1 assets of the Charfty of £16.229.000 at 31 March 2025 are adequato and 8vallabl8 to fulfll the obligatlons of Ihe Charlty Including all known mMitMents. Futur• Pro8PeCt8 Brunts Charlty Trustees are Fleasod to report on anoth8r 8UCC8s8fiJl yéar 88 the Charity contlnueg to commlt towards Its strateglc vlsion In consolldating, developlng and expandlng the Charfty'8 Infrastructure and servlce dellvered to the older genoratlon withln Mansfield and dlstrlct. The Chortty continues to provlde conslderable Investment In Its propertles. In 2024-25 the Truste08 approved a £2.000,000+ spend focusing on Inprovlng the infTastru¢ture and facllilies at The Patchllls Centr8 , includlng renewal of the central heatlng system. addlng temp8rature controll8d zon88, solar 8nergy panels, newly refurblshed tollet f8cillti8s catsring for all visltors to Ihe site, addlng a new entrC&w8Y opngery io improv8 acc8ss and securfty to the bulldlng. e8Pgcialty 8t week8TrJ8. At the Brunts Chambers buldlng {gr8de 11 li81ed) the Chartty recelved 8 Town8C8p8 Horige grant of £320,000 towards improving the front of thè prOrtIeS (34, 36. 38, 40 and 42 Leemlng Street and 2, 4 and 6 Toothlll Lanè). In addition to thls. three new flats have be8n added th the flrst and second floors of 38 and 40 Leemlng Street, and the roof, chlmneys and rear sash wsndows have bèen compietaly refurblshed. In¢udiro all extemal pipework and guttering. Thls Inv8stm&nt wlll ènsure th& premlses are It for purpose golng loard and that they are utillsed lo thelr full capacity to bring in Important $ustalnabl6 Income to enable the Charity to meet Its charltable objeGtives. The Charity has also Ctintsed th major rolling projects Involving the installation of new walk-ln bathrooms and kltchens within all bungalow5 across all sites, and replacement rfJ)fing and Insulation for the 19 bungalows al Samuel Close. Looking Bh8ad, the Trustees contlnue to advan the salg of land at Balmoral Drive, wher8 an Investor actlng on behalf of another housino charity has Bigned a ¢ontrBct with Brunts Charty and is currently applying for full plannSng endorsement to build social houslng on thls slte.
BRUNTS CHARITY Tru8tso9' Roport for tha year •nd¢d 31 March 2025 Additionally. the Charlty is conducling Its own due diligence through land surveys, ground exploration and ecological suN8ys towards hopefully purch88ing land adjacent to the Patchills estate and. should these ba favourable, the ChariV$ aim is to purchase this sile as a land bank so that, In the luture, the Charity can expand its older person housing capability which Is klentified as a necessty as demand grows for 81m8house6 as lh& older generatlon are livlng longer. The Charlty additionally conunues to meet its other charitable oblectlves In provldiro grants and pensions to th8 older oeneration wlthln the wld8r communlty and the Chatly has p8rtn8red wlth several other Ioc81 charitsble groups to 6xpand its outreach Ivla marketlrtrJ and promOonSI so that the Ch8rlty can targ8t those Indlviduals mosl In need and who can b8 asslsted vla the Charity scheme. The Charrty ¢ontlnu88 to pertner wlth The Patchills Panty who provlde lowost. nutrltlous meaF8 to resident8 and the wlder older generation vlthln the geogr8phlcal area. Thls nt $8rvlce is a Ilfe-llne to so many vulnerable perople and both Tha Patchlms Centre and the Champlon Crescent Centre offer central hub8 where staff cwtlnue to provide coffee momlngs, craft sesslons, monthly themed 8vents and annual fairs to encourage indlvldual health and wall-belng through social gngagemant, whlch h lum aids the prevention of social exclusl¢)n and Isolatlon. In summary, th8 TnJst88s are proud of the Chaws record lo dots, d8vÈloplng and offering support thIn the communlty. The Charlty conducts It affairs to the hlgh&8t standard8 and th8 Truste&8 work closely with Senior Management In applying in applylng solld governance and compllan¢e. The Trustees are revlewing the Charitable Scheme documents vla a wothNJ group to ensure the Charlty remaln8 current and act8 w4thln the legal framework of its charltab19 obj8ctives. As e regl8tered soc181 hou8lng wovlder, the Charlty has adoptsd besl-practlce st8ndards In terms of complainls proc6durgs and is now COMIy4ng with the Housing Ombudsman in 8nsurln9 the Trtle$ fulfil thèlr OblatiOnS towards provldlng low]51 quallty homes and $8rvlces to boneficiaries in dealing with both mely 8eNIc8 requ88ts and complalnts. 88 tho TnJsts88 prfd8 th8mselv68 In maintalnlng hlgh standards a8 custcrfjlans of Brunts Charlty. A8•••8m•nt of how th• Charlty IB achl•vlng v•luo for mon•y The Ch8rlty WKI conllnue to dollvor Its Mre busin888, provldlng low cost arKomm¢xlation and supporting 11$ ohJ8r beneflciarles through the dellvery of a suppcfft Infrastructure, such as communty fadlittes, vthlch offers eSsenll81 safoguardlng and well-being services at reduced costs. The Charity also offers one-off grants and penslon opportunitles to the older 98neratlon withln the wlder communlty of Mansffleld and D18tr1ct that are ellglbl&. Thg Tru8te&s arKI Senlor Management Team operate strfct contrcl over expendlturo, worklng wlth all 8tak8holders to maxlmlse ovar811 cost efficiency. Thè investrnent portrollo is carefulty managed to 8nsure It generates adequate Income streams within the acceptable rlsk profile and the Trustees 8chi8ve th1$ thrgh regular revlew of policles and updates on market perfomance from the invoslment managars. Code of governance The Charity'8 Scheme lists 11 Trustees made up from nonwexecutlv8 appolntments wlth 4 representative councillors from the local authority and 7 cOPtatEve Twstees made up from volunteers vAthln the communlty of Mansfield and DislricL In the yeBr th8 Charity was Govam8d by 10 Trustees and is taking pro-actlva measures to recrult and appolnt an additional Co-optalive volunteer withln Ihe r#Jent financial year period. Tho Trustee$ able lo draw from rel&vanl broad oxperlence in coMectlv8 commlttoa dellberations and operate wrlhin relevant and recommended governance and comF4iance frameworks, adopting a d8mrKraUo pro$ In declslon making. covering th8 charltable objects.
BRUTrn CHARITY Trustees. Report for the yeav •nded 31 March 2025 The collective Board of Trustees. meet three Ilmes per year to dlscuss and agree matters of governance, cOmplne? and finanrAal authority and wher8 oporational updates are provlded vla tho Senior V0nagem8nt Tgam. The Trustses are collectively responslblé for the competent manag8m8nt of the Chadty in accordance wth Its objactives. Th8 Board of Trustees. sutpd8lepates ¢¥eratk)nal day-to-day running of the Charity vla tts Senior Management Team (SMT) whlch Gonsists of the elecled officers (The Chalr. Vlce Chalr and cth other appolnted Trustee) and senlor operalk)nal 8mploy8d staff (rhe Chlel Execuuve Qfflcgr (CEO) and Operalions Dlrector IOPSDI) WIK) are provldgd delegatsd, controlled authorfty to enabl6 the effident and effecllve runnlng of the Charlty daY-td8y. The Board of Twstea8 additionally appoint both the Chair and Vlce Chalr persons to provlde overslght In support of the CEO to managg Its employed staff which currenlEy conslsts of on8 Op8rallons Dlrector, one Admlnlstrative Executlvè, thre8 Support Officers. on8 Welfar8 and Safeguarding Offlcer and Mo Housékaeplng personnal In d8llv8rlng Its op&r8tional capabilitle8. The SMT is addltlonally responsible for 8dvL8lng Ihe Board of Trustses In dafinlng and updating pollcS8s and procedure8 80 thal Tru8t8e8 have sufflclent information to prud8ntly endorse 8nd approva th8 Charl8 affairs ond stralegl¢ dlrèctlon. Th6 Charlty conducts Its actlvili8S With problty In such a w£y to balanc6 ils overall responsibillty towards re81dents and other beneficiaries vith whom It de818 and conflm)s that all the Tru8tee8 hava pald due attention to tha Charlty Commls8lon guldance on public beneflt. R•f•r•n¢• to Tru•t••s' annual r•vlow of Intsmal control In meetlng Its re8ponslbllille$, the Trustee8 have ad¢Jpted a risk-ba88d approach to Intem81 controls whlch ar8 embedded wlthln thè nomial management and gov8manc8 process. Thls approach Indudes Ihe regular evaluation of the nature and axtent of rlsks to which tho Charity 18 èxposed and Is consisterrt with th8 PrI1p[aS a8 Incorporated In tho Intem81 Flnanclal Controls for Chartues guldance (CC8). The process adopted by th8 Trust888 In revtewlng the effectlveness of the system of intèm81 contrd, together wlth some of Ihe key elements of the control framework Includ&8: A Senlor Manag8m6nt Team {SMTI made up of the Chalr, M¢e Chalr, one nominatsd Tw8t8e and two senlor personnèl responslble for en6urfn9 that the decislons made by the Trusts6s In relatlon to Intemal control and ¢orporat8 govemance are acted upon and are effectlve. Operatlonal declslons aro made by the SMT In thè pedod8 ben Trustees, meetlng8, rewung back to the Board of Trustees every four months for 6crutlny, 888urarKe and audlt purp8, Cornprehen8lve rnanag8ment Infomiatlonls present6d to the Trustees and the Management Commlttee. This includes annual budgets and detslled quarterly Bccounts prepared by th8 Charltys accountsnts for board review and approval. A 8yStern of appointed worklng groups, made up frorn dd8g8ted Trustees and Senlor Operatii)n81 management to look at Spocific governance, compllanGe i5sue¥ and idenltfied projects as id6ntlfied vta the Board of Truste88. Publlc bonofft Statement Tho Twstees have revlewed the ChariW8 activitl8s and Satisfied themselves that sultable public l)enefit is provlded In pur8uIt of those ch8rftable activlb'&8. Trust808' r•sponslbllltlo$ The Trustees are responsible for preparfng the report and financial stalements In accordanc8 with applicable law and r8gulatlon$.
BRUNTS CHARITY Trustoes. Report ft¥r tho year ènded 31 Mah 2025 The Charitl&s Act 2011 and regi8tered so¢ial housing legislatiijn require the Trustees to prepar8 finandal ststem8nls for @ach financial year which glve a trué and falr vlew of the 5tat& of affairs of the Chartty and of tts income and expenditure for that period. In preparlng these flnandal statemonts, tha Trustees are required to: select Bultabl8 accounllng pollcles and then apply them consl9leny. make Wdgements and estlm8ts9 thal are reasonable and prudent. slats whether appllcable accountlng staThJar(Is have been followed. Subject lo any material departures disclosed and explained in tha financial statsments; and epare the flnanclal statemènts on the golng conc8rn basls unless It Is Inapproprlate to presumè th8t th8 Charfty contlnue In buslness. The Tru8t86$ are responBlble for keeplng propar accountlng re¢ord8 whl¢h di8clos8 wlth r&a$onable accuracy 8t any time the financial paslllon of th8 Charlty and enable it to ensure Ihat the financlal 8tatem9nts comply with Ihe Charities Act 2011, the Housing and Reg8ner8tion Act 2008, the Statemgnt of Recommended Practice for Soclal Housing Providers 2022 (plus Housing SORP guid8nce 2022> and the Accountlng Dlrectton for Privats R8gi8t8red Providers of Soclal Houslng in England 2019, They havo general rospon8lblllty for taklng r9a8onablg steps to safeguard the assets of th8 Charity and to prevent and d8tsct fraud and other irregularftles. Dlgclo•ure ol Informatlon to tho audllor• The Trustees of th8 Chartty who held office at the dats of approval of these flnanclal statèment8 as set out above 8a¢h conltm, $0 far as they are aware, that: therè Is no r&lèv8nt oudlt Informatlon of vthlch thè Ch8rlty8 8udltors are unawarg: and they have takeln all the 818ps that they ought to have tsken as Trustees Sn order lo make themselves aware of any relevant audtt Inlomiatlon and to 88tabll8h thal the Charltys auditor& ar8 awar8 of that Th8 Trust8ès' report w85 approved by the Tru8ts85 on 10 July 2025 and slgnad on their b&half by D Undy Chalr of Trustees S Hlgglni VSce Chalr of Trustee8
BRUNTS CHARITY Trustees. Report for the year ded 31 March 2025 The receni performance of the Charity can be 8umm8rised as follows.. Income 2025 (£000) 29 Income 20241£000) 31 and Ilablltlo8 255 264 £3.1mll Own use as8ets £6.3mll Long temi Inv8strnents 746 729 Rèntsl Income R•ntal Incom• Irwestment Income Investmer>t IoMe £7.3mll Other assets i Othèr Ir¥eome Other Income £520k Total Ilabllltles Expenditure 2024 (£OIJO) Expendlture 2025 (£000) 26 202 172 26 275 393 579 573 thnd dor¥ètloDs Grants and don8tlon5
Property malntpna
Property malntenan Adrnln exp•ns•s Admin expens•s prec5itlofi Depredatlon Flnanclal hlstory (£000) and charftable 5pendlnE ratlo L400 1.200 4C() 200 2021- 118% 2022-88% 2023- 104% 2024- 114% 2025 - 105% 5 year average- 106% Incorne Expendlture 10
BRUNTS CHARrrY Indep0nd8 Audllotrs R•port to the Trusto0• of BTunts Charlly for tho year ended 31 March 2025 Opinlon We havè audlted the financial statements of Brunts Charity for the year ended 31 March 2025 which comprise The Statement of Compr8h8nsive Income, Balance Sheèt, Stalemenl of Changès in Reserve8, Statement of Cash Flow8 and notes to the flnancial statgments, Includino a summary of slgnificant accountlng policies. The financial reporting framework that has been applied in thelr preparation is appllcable and United Kingdom Accounting Standards, Inc[lIng Financial Reporting St8nd8rd 102 The Financial Rep¢Jknng Standard opplicablp in trt8 UK and Republlc of Ireland (Unlted Klngdom G8n8rally A¢cepted Accounting Practic6}. In our opinlon th8 flnanclal statements: glve a true and falr vW of the Chadty's affairs as at 31 March 2025. and of Its Incomlng r8sourc88 and appllcallon of rasoure98, including Its Income and exp&nditure, for the year then 8ndad', hav6 been properfy prep8red In accordan¢8 wlth Unlted Klngdom Generally Accepted Accounting Practlce; and have been prnparad In aCrdanCe wlth the réqulrements of the Charitles Acl 2011, th8 Houslng and Reg8n8r8tlon Act 2008 and Ihe AccounlirKJ Directim for Prlvate Regl$ter6d Provlder8 of Soclal Housing In England 2022. Basls ft*r oplnlon We conducted our audlt in eccord8n¢e with Intematlonal Stsndards ¢Jn Audillng (UK) (ISAS (UK)) and applicable law. Our r85ponslbllltias under those slan(Sards are further descrlbed In the Auditi)rfs réspon81bllltles for the audlt of the financial 8talemen18 sgcllon of our reporL W8 are Independent of th8 Charity In accordanc6 wlth the ethlcal r8qulrements that are relévant to our audlt of tho financlal stat8ments In the UK, includlng th8 FRC'8 Ethlcal Standard, and we have fulflll8d our other ethlcal re$ponsibilltieB In accordancè with th6$e requlrements. We beliove th8t the audlt evldents we have obt8lned18 8ufflcl8nt and approprfal6 to provlde a ba818 for our oplnlon. Conclu8lon• r•l8tlng to golng concern We have nothlng to report In re8pect of the following matter8 in rel8tlon to whlch the ISAS (UK) requlre u8 to report to you wher¢: the Trustegs. u8e of the golng concem basis of 8¢countlng In the preparatlon of th8 flnancial statements18 not approprlate., or cast slgnlficant doubt about the Charity's abllity to contlnue to adopt the going concern basls or accountlng for a perlod of at least tsvelv8 months from the date when the flnanclal $lat8ments are authorlsed for1s8U8. Othor Intormatlon The Trustees are responsible for the other infomiation. The other informatlon ¢omprises the information Included In the annual Trustees. rep)rt.' we do not express any lorm of assurance conduslon thereon. Our opinion on the finanal ststements does not cover the other infomatlon 8nd, except to the extent otherwise expIldty statgd In our report, we do not Fxprgss any fom) of assurance condusion ther80n. 11
BRUNTS CHARrr Indepeftdont AudStofs Report to the Tru$tees of Brunts Charlty for the y•ar ended 31 March 2025 In conneclion with our audit of the financial statements. our responsibllty Is to read the other information and, in doing so, considar whèther the other infomatton is materially inconsi8tent with financlal statements or our knoWIge obtsined in the audit or otheTrA3e appear6 to be materi811y misstated. If wè Identlfy such malerlal Inconslstencles or apparent material misstatements, we are required to determine whether thera is matsrial misstatement in the financlal 8tstements or a material mlsstatsment of other Irrformatlon. If, based ) the work we hav8 perfomad. w8 Ccclude that there 18 a matertd Mtatement of th18 Oth8r Infomatlon, we are required to report that fact. We have nothlng to r8FQrt In thls regard. Mathrs on whlch wo Ire roqulred to rnport by 0XPtIOn We have nothlng to report in respect of th8 following matters In relatfon to whlch the Charftlg8 (Accounts and Reports) Regulations 2008 requlre us to report to you rf. in our oplnl¢M: the Information given in the Trusi888' report 18 inconslstent In 8ry matsTlal resp8Ct wlth the financlal ststsmants: or sufficlont aco)untlng rocord8 have not boon k8pL or the financlal statoments are not in agreement wlth the accountlng record& or we have not recelved all tha InflymaoTr and axplanatlon8 we requlre for our audlL In addillon, we have nothlng to report In respect of the fdlowlng matter where the Hou8lng and Regen8ralon Act 2008 requlres u$ to POrt to you If, In our oplnlon: sotisfactlon systsm of control over transa¢tlon8 ha3 not been malntslned. Re#pon•lbllltl•8 of th• bo8rd A8 explalned more fulty In the Tru8tee8' respon8lbllllle8 Statsment, set out on pago 8, the Tru8t8es (who are the TTUSte88 of the Chaty for the purposes of charity law) are responsible for the preparallon of the flnancial Slatemgnts and for being satlBfiod that they glve o true and falr vlew, and for such Internal control as th8 Tw$tee8 detemlne Is necessary to enable the preparallon of flnancial statements that are free from matgrlgl m165tatement whether due to fraud or error. In preparfro Ihe financial statements, the Trustees are responslble for 8sses$lng the ChariW8 ability to contlnue as a golng conc8m, discloslng, as 8pplicable, matters related to going concem and using the g¢ing ¢oncèm basis of accAyJnting unless the Trustees elther Intend to liquidate the Charlty or io c8ase operations. or h8ve no r8811stlc altemative but to clo so. Audltoe• re•ponslbHltl•s for tho audlt of thg Ilnanclal Statements We have been appointed as auditor under section 144 of the Charilies Act 2011 and seclion 136 of tho Houslng and Regeneration Act 2008 and raport In a¢¢ord8nce wlth regatiOnS made under section 154 of th6 Charities Act 2011 and Section 137 of the Houslng and Reg•n8r8tion Act 2008. Our oblectNes are to obtaln r6asonable assurance about b*thether the finan statements as a whole are free from matsrial mlsststement, whether due to fraud or error, aTrJ to issue an auditor's report that Include$ our opinion. Reasonablè assurance is a high level of assurance, but is not a guarantee that an audlt conducted in aGGordanc8 wilh ISL8 (UK) will always detect a material mis5t8tement when it exists. 12
BRUNTS CHARrrY Indepondont Audhor's Rep¢>rt to the Ttustsos of Brunts Charity for the year ended 31 March 2025 Mis8tal6ment8 can arise from fraud or error and are o)nsidered malerlal rf, individually or in aggregate. they could reasonably be expected to infiuence th8 economic declslons of users tsken on the basis of the88 financial statements. ITregularitles. Includlng fraud. are Instances of non*CA)mpliance wlth laws and regulations. We design procedures In Ilne with our responsibililles, outtine(1 above. to detect m8tarial misstslements in respect of irregularitlè8, includlng fraud. The extent to which our procedure8 are capabl8 of detecting irre9ulariti88, indudlng fr8ud1s detsiled below. As part of our plannlng process: We enqulred of managem6nt reg8rdlng the sy3t8ms arKI Controls the Charfty has in plac8. trtè areas of the financial statements that are mO8Y susceptlble to the rl8k of Irregularltles and fraud. and wh8th8r thera was any known, 8USP8Cted or allèged fraud. The Charity dld not Inform us of any known, suspècted or alleg8d fraud. We obtalned an undarst8ndlng of the leg81 and regulatory frameworks appliblo to the Charlty. We dal8rmlned Ihal th8 lollowing were most relevant: FRS 102, the chart8$ Act 2011. th8 Houslng and Regen8ratSon Act 2008 and tFw Accountlng DTrrgcUon for Prlvate Reglstered Provlders of Social Houslng In En9land 2022. Wo conslder8d the Incentlvgs and ¢)pportunltle8 that e$t In the Charity, Includlng the gxtent of man8gemenl bias, whlch pr8s8nt a potentlat for Irregularitles and fraud lo be porpetueted. and tallored our risk assessmènt accordingly. Uslng our knowledge of the Charlty, tog8ther wlth the dlscusslons held wlth the Charlty at thg planning stage. we formed a wnclusion on th8 risk of mls6latem8nt due to Irregularities Indudlng fraud and tallored our procedure8 accordlng to thls rlsk as8essm8nL The k8y procedur88 und9rtCk to detsct Irregul8rltl88 Includlng fraud durtng the courne of the audlt induded.. Idant]fng and tssttng journal entrt88 and the ovèrall accountlng r8cord8. In partlcular th080 that were slgnlficanl and unusual. Revièwing the financlal Btatement d18cIogures and d8tenninlng ether accounting pollcle8 have been approprlat8ly applled. Revle¥Mng and challenging the assumptions and Judgements used by management In their slgnlficant accountlng estimates. In partlcular In rel8tk)n to the valuatton of Inveslments and depreclation. Performing a physical verification of k8y 8sset8. Obtalning thlrd-paty conflmiatron of mat6ri81 bank balances and Inv8stmenl values. Revlewng documentallon such as the Charfty board mlnute8, ¢orre8pondenc6 with 80licltors, for dlscusslon8 of Irregularltl8s Including fraud. ring ID the inherent Ilmitatlons of an audiL there is an unavoldable risk that we may rK)t have dotected some materlal misstatsments in the finan¢i81 statements even though we havo properly planned and perfomi8d our audlt In eccordance wlth audltlng stsndards. The primary responslbllty for tho preventlon and delectlon of irregularities and fraud rests wlth the Trustees. 13
BRUNTS CHARITY Indopondent Auditovs Report to the Trustees of Brunts Charity for the yoar ended 31 March 2025 These inhemt limitation8 are parbcularfy significant In th8 case of misstatemént r88ultlng from fraud as thb8 may Invofvo sophisticated schemes desig1 to avoid detection. including deliberate fallure to record transactions, collusion or the provision of Intsntional misrepr85entations. A further de$¢ription of our re8ponsibiliIgs for th8 audbt of tho flnanctal statements 18 located on the Flnancl81 Reportlng Counrjl's websllo al: ww.frc.org.uklauditor8ra&ponsibilltJ88. This description forms part of our auditorfs Yep Ui• Df our r•port Thls report Is made solely lo the Charity8 Tru8tges. as a tly, in accordance wlth Part 4 of th6 Chariti88 (Accounts and R8portsl R8gulations 2008 and Section 137 of the HousSng and Regener8tlon Act 2008. Our audit Vrk has bean undertakgn $0 that w8 mlght stai6 to the Chadty's Trustèes those matt6rs we ar8 requlred to st8te to them In our audltor's report and for no other purpose. To the fullest extent P8rmStted by law, we do not acc6Pt or assume re8ponsibillty lo anyone other than the Charlty and the Charltys Trustees as a l)ody, for our 8udlt work, for this réport, or lor th8 ¢Jplnlons we have fomad. Jonathan Wll•on FCA CTA sènlor Slatutory Audltor For and on b•half of Bam•tt & Turn•r Accountants Ltd Chartered Accountantj and Rogl•torod Audltor• Cromwell Hous• 68 W08t Gat• Mansfiold Nottlnghamshlr• NG18 1RR 10 July 2025 14
BRUNTS CHARITY Slatsm•nt ol Comprohen¥lv• Incomo {In¢ludlng Income and ExpendRuro count} for the year ènded 31 Marth 2025 Note 2025 £000 2024 £000 Turnover Cost of 8al8s 694 {763) 647 (847} Gross (d•flclt) (69) 1200} Admlnlslratlv8 8xpondltur8 1319) {3171 Other op8rating Income 306 358 Oporatlng {dofieft) (82) 1159} Intsre8t recelv8b19 and sSmllar In¢omg 30 19 Movement In fair volue of financial Instrum6nts {25) 919 Surplu81(d•fi¢ltl on ordlnary aellvlll08 lor y•ar Total compr•h•n¥lv• In¢ome for y•ar (77) 77 779 On b8h8lF of the Trustees D Undy Chalr of Tru8tse8 8 Hlggln8 Deputy Ch81r of Tru8tees The notes on pages 19 to 28 form part of these accounts. 15
BRuKfs CHARITY Balance Sheet as at 31 Mar¢h 2025 Nots 2025 £000 2024 £000 Flx•d a•sftt• Taroiblo fixed ag88ts Inv851ments 3,130 6,338 2,271 6.322 8,593 Curront as8otB Dèbtors Invèslments Ca$h at bank and In hand 10 11 109 6,690 1,067 5,447 601 7,281 7,866 Cr•dltor8: amounts falllng due wlthln ono ar 12 (520) {153> Net current a8S8t6 6.761 Total net ag••1• R•oorvo• Income and expendlture resorve Restricted reseNe Endowment reserve 13 13 13 9.858 238 6.133 9.956 230 8,120 Total r•Mrv The flnancial 8tstement8 wer8 approved and aulhori8ed for188ue by the Tru6tee8 on 10 July 2025. Sp3ned on behalf of the Trustses D Undy Chalr of 3 Hlgglns VIGe Chair of Trustees es The notss on pages 19 to 28 fomi part of these accounts. 16
BRUNTS CHARrrY Stslemgnt of Changfr6 In Ro8OIV•8 for th8 year ended 31 March 2025 Income and •xpwdlture raserv8 Rostrlcted rasorve Endowment resarve Total £000 £000 £000 £000 At 1 April 2023 9,515 227 5,785 15,527 surplus for the year 88 688 Transfor belweon funds 353 {3531 At 31 March 2024 9.956 230 8,120 16.306 {0¢11YSUrp1u9 for the y8ar (400) 315 (771 Transfer belw8an funds 302 (302) At 31 March 2025 17
Brunts Charfty Statoment of Cash Flows for th• yoar ondod 31 March 2025 Not8 2025 2024 £000 Nol cash ggneralgd from opeTallng actlvitlos 16 (637) 33 Cash flow from Investlng actlvtlos Purchas8 of tangible fixed assets Sale of current asset Investments Interest received Not cash u8od In Inv•stlng actlvllles 11,061) 1.202 30 (305) 19 {286) Not reduction In $h 8nd cash equlvalents Cash and cash 8quivalents at the beginning of the year 1,067 1.320 Cash and cuh •qulv•l•nt• at the end crf th• year 601 Cash and cash equfvalents at the year 8nd comprf88: C8$h at bank and In hand 601 The notes on pages 19 to 28 form part of these accounts. 18
BRUNTS CHARITY Notes lo th? Flnanclal Stalgments for the year ended 31 March 2025 1. Summary of sign1fint accountlng pollcles & Gon•ral InfomHtlon and bas18 of pmparatlon Bwnt8 Ch8rlty Is a reglstered charlty and a private reglstered provider of social houslng In the Unlted Kingdom. The address of the r8gistered office is giv8n In the ChBrity infomiallon on page 1 of ihesé financial stat8ments. The nature ol th8 Ch8rlty's operBtions and princlpal activSti88 ere the provislon and maintanence of alm$hou88s for elderfy poor per8on8 from wlthln th8 old Borough of Manslleld. The Charlty constitutes a publlc b8ngfit enflty a¥ dèfined by FRS 102. Tha flnan¢lal statements have been prepared In accordance wlth applicabl8 accounllng Standards Indudlng Fin8ncial Reporting Standard 102 Yhe Financial Reportlng Standard Appllcabl8 In the UK and R8publlc of Ireland" IFRS 102), the Statement of Recommended Practlce for So¢lal Houslng Provlders 2018. and wlth the Accounting Directlon for Private Reglstered Provlders of Soclal Houslng in England 2022. The financial ststements are also pr6pared under tha requirements of th6 Houslng and Regeneratlon Act 2008 and the Charflles Act 2011. The Itnancial statements have b88n pr8pared on a going conc6m basls under the hlstorical cost G¢)nvention. modifled to Indude certaln item8 al fair value. The financial slatemgnts are prepared In sterling, whkh is the functlonal ¢urrency of the Charity. and rounded to thè nearest £000. The 81gnlfl¢ant accountlng pdl¢l0s 8pplled In the preparallon of th8se financial statements are set out below. Thes8 policles have been wnglstently applled to all years pr88ent8d unless otherwls8 ststed. b. Golng concgrn Changes In general e¢onoml¢ condltlon8 have resulted in shanlftcant changes in the value8 of th8 Charivs Invastm8nts durfng recent y8ars. On the ba818 ol thelr as8e88ment of the CharlW8 financlal posltton, the tru8tees have a Trasonable expectatlon Ihat the Charlty wlll be able to contSnu8 In operational existence lor the foreseeable future. Hence, the trustee8 balleve it Is appropriate to 8dopt the golng concern basls of preparation of th• financlal statements. c. Tanglblo Ilxgd as8•ts Tangtble flxed ass8t8 (Indudlng soc181 usIng propertles) are staled at cost less soclal houslng grant accumulalad d8precl8tSon and accumulated impainnent losses. Cost includes costs dlrectly attributable to maklng the asset capable of oparatlng as intended such as the cost of acquiring land and buildlngs. d•velopm8nts costs, inter6St charg88 on loans durlng th8 development P8riod and exp8nditur& on lrnprovements. Expendlture on Impmvements will only be capitslisèd wh8n11 re8uIts In incremental future benefits such as Increasing rental Income. reduclng malntenance costs or re5ultlng in a slgnlficant gxtension of the useful economic life of the property. Deprecfation Is provided on all relevant t8nglbl8 flxed assets, at rates calcul8t8d lo write off th8 cos(18SS estimated resldual value, of each asset on a 8yStematlc basls over Its expected useful life a8 follows: Housing propertl88 Almshous83 Improvèments Straight lin8 over 33 to SO years Slralght Ilne ovor 10 to 25 yaars The usefvl 8conomic lives of all tangible fixed assets are reviewed annually. 19
BRUNTS CHARITY Notes to the FlnanGlal Statsments for tho year endod 31 March 2025 1. Sunwnary of slgnlficant a¢countlng polici08 Icontlnued) Inv•stmont propèrtles Investment prop8rtles have a readlly assessable markét value and thus the fair value tan be measured rgllabty. These properties are th8r8fore measured at fair value at each reporbng date with changes In falr value recognised in the Statement of comprehenslve Income. Land obiained speculatfvely 1$ 8¢¢ounted for B5 invesknent propety. Propertles rented to provlde social houslno 8r8 not Investment properties. •. Debtors and c1110T$ rocofvablo I payabl• wlthln gn• year Debtors and ?ltOrS wlth no stated Interest r8t8 and recelvebla or payable withln on8 year arg recorded 8t tran8actlon pric8. Any losses arl8ing from ImpBlrment are recognlsed in the statement of compreh8nslve Incorne in othar adminlstrative 6xp6nses. f. Invo•lm•nts Inve8lm8nts are recognl8ed Inltlally at fair valug whlch 18 nomially the transadon FKiC8 8xcludlng transactlon costs. Subsequenly, théy arè measured 81 falr v8lue through th8 statement of compr6hensiv8 Incom8 If th8 Shar88 are publlcly traded or thelr falr value can 0rls8 be measured rellably. 0th8r Inve6lment$ arg me8$ured at cosl1889 Impalrment. g. Impalrm•nt Assets not measured at falr value ar6 revlewed for any Indlcation that the asset may be Impalred at each balanc8 8he8t dal8. Th8 levg18t which an Impalrment is as8egsed18 consldered on a Fffjperty by PTopety ba8iS. If such Indlcatlon eSts. the rocoverable amount 18 e8lÈmatod arwj compared to the canylng omount. Where the Carng amounl exceed8 its recov8Tabl8 amount, an Impalrment loss 1$ recognlsed In expèndltur8 through Ihe s18t8m8nt of comprnh&n8lve Incoma. Th6 tollowlng key judgemont h88 b88n made In esllmatlng tha r8COV8r8ble amount.. Asse$$manl of vold perlods and malntenanco requlrements. The estlmatlon lechnlque used In measurfng the recoveratde amount ts based upon comparlson to thg open markel. The method used to calculate valu8 In us8 In respect of 8ervlce potentlal to eSMate the r&coverable amount18 based upon future earning pot9ntlal. The key assumptlon m8d8 In calculallng Ih18 valu618: Prop8ty vhll ramaln occupled at 5imilar18vels In the ftrture. h. Provlslons Provl8lons 8re re(wnlsed wh8n the Charfty ha8 an obllgatlon at the balance sheet date as 8 r8suEt of a past event. it is probable that an ouffiow of economic benefits will be required In selllement and tho amount can be reliably estimatèd. Provisions for cycllc21 maintenance or major works to existin9 Stock are not made unles¥ they represent commitments or c4)IwJatlons at the balanca sheet date where there is no discretion to avoid or d8lay the expenditure. 20
BRUNT8 CHARITY Notes to tho Flnanclal Stalements for the year ended 31 March 2025 1. Summary of slgnificanl accourrtlng pollcl8s {contlnued l. Taxation The Charlty Is not liat4e to dlrect t8xatlon. The a¢fjvitles ofthe Charty are ex8mpt from VAT. J. Turnovor and oth•r Incomg Tumover Is measured at the falr value of th8 con81deratlon rg¢elv8d or recelvabl& The pollclos adopted for the recognltK)n of tumov8r are a8 follow8: Tumover r&presgnts rental and serv[ ch8rg88 Incomo r8eelvable In the y8ar net of rent and Bervlc8 charge losses from volds. revenua grants from the government {locg1 authoriti&6) and th8 Hom88 and Communltles Agenw. Intsrast Income18 recognised usSng tha effactlve intorest method and dlvldond incomo 1$ recognis8d as the Charttys rlght to M¢eiv8 payment IB 88tabllshed. k. Gov•mm•rf grants A grant from Nottlnghamshlre County Councll18 recelvod In regpocl of county welfare. Grants recelved as 8 contribullon to revenue exp8ndlture are recognlsed In the statement of comprehen8fve Income on a syslemattc b881$ ovar the pwlod in whlch the taThllord recogni5es the r8lated costs for whlch the gran115 Intended to compensale, The r8lated &xpenditure Is included under operating eXnses. Grants ar8 récognlsed In the same period a8 the related expenditure provided the condltion3 for rnc8lpt have been 88tl8fied arKI there16 roasonable assurance that the gr8nt will recelv8d. l. Employee b•n•flt8 When employees have r8nd8red Service to the Charity, short-term employ88 benefits to whlch the empby8e8 are entlled arè recognlsed al the undlscounted amount expected to be pald in exchange for that servlc?. The Charfty oper8te8 8 defined benefft ptan for the benefit of Its 8mployee8. Further dl8dosur8 of th18 scheme can b8 seen in Note 14 of th8se financial ststemenls. m. Ro•trlctsd and endowmont re•erv•¥ Restrlcted and endowment reserve6 ar8 those reseryes whl¢h are only 8xpeTrYable In accordanc& wlth th8 wlshos of the funder. Restrlcted reserves Include funds from Spgclfic legacles. Endowment funds represent those 88sets whlch must be held p8rmanentiy, prfncipally properties. Revenue and expenditure Is taken through the statement of comprehenslve income and then 8 transfer belween reserv86 18 made as appropriate. 21
BRUNTS CHARITY Notes to the Flnanelal Statem•nts for thè yoar endod 31 March 2025 l. Summary of slgnlfl¢ont accounting Wleles {¢ontlnued> n. Judgemènts In applylng accountlng pollcl88 and k•y 8ourc88 of 88tlmalion uncortainty Preparal'on of tho fin8nclal 8tat6menls requires Ihe Trustses to make slgnlflcanl juégernents and estimatgs. The ftoms In the financial ststements wh8r8 th858 ludgoments and estimates hav8 b88n made Dopreclallon of tanglblo flx•d aMol8 Detsnnlning Ihe approprlate rote of depreclatlon of tsnglble fixed assets requlres an e8tim8tion of the useful aconomlc Ilfe and ultlmalg n8t reallsabla value. The useful economlc lif8 Is detomilned to be the P8riod durtng whlch e8ch asset wlll generale posliive cash Ilows for the Charlty. Valuatlonl of Inv••tm•nts Inv8Stm6nts ar8 Valued at m8rket valu8 8t lh8 bal8nc8 sheet dat8. The value ol Ilsted Inv8stments18 detemilned by reference to thè quoted price for Identl¢al assets In an actlve markol. Investrngnt properti&s ore valued by the Trustegs and involve the use of }udgement ragardlng the stats of the local property market. Valuatlon of dIn•d hnofll 8¢homg uiets and IlabHItIo8 Because of th8 d6gree of estlmation involvéd In calculatlno the value of the deflned b8n&fil 8ch6ma assets and 11abllleS at the balanc6 sheet date, relianc6 Is p18ced on the penslons provlder to calculate th8 Charltys Sha of the multl.8mploy8r fund to whlch the Charltys 8mployees belong and provlde the r8iwant dlsdosure for the financlal 8tstements. 2. 8oelal houllnq turnovw and ¢08t• 2025 £000 2024 £000 Rents receivable exdudlng seNleo charges Sodal houslng activity expendire 694 (7631 647 (847) Opgrating (d8flclt) from 80clal hou8ing activltl85 69 200 Net (deficltl from soclal housing acllvltles 69 200 Vold108888 & Accommodatlon own•d and In management 2025 Number ol unllg 2024 Nurnbor of unlts Completed unlts: Houslng for older people 153 153
BRUNTS CHARrrY Notss to thé Financlal Statements for the year ended 31 March 202S Interogt and oth•r flnance Income and charge8 2025 £000 2024 £000 Interest receivable and similar Income., Bank Interest reGolvable 30 5. Dollclt on ordlnary actltIeS 2023 £000 2024 Deficlt on ordlnary acllvities Is stated afler chargIn(CreditIngj. Audltorfs remunerBtlon for audit servlces Audltor's remuneration for non-audit s&rvlces D8preclalfon of tanglble flxed assets (Galn) falr valu8 movèment of Investmgnt propgty Lossl(galn) on f81r value movement of Investrnents 202 173 (171) 747 25 6. TM8to08 r•mun8rntlon and axpen80• Tnjstees nellher rec&lvgd nor wabved any remunerauon durlng the year12024; £nill. Durlng the y8ar 8 trust8e812024'. 8) recelved expen88s from the Charlty totalllng £1.905 (2024.. £1.760). 7. 8t•ff c08t8 The averag8 number of employees, includln9 members of tho exe¢utlve t8am, calculated on a full lime equlvalent w85 9 {2024.' 9}. Th8 remuneratlon pald to kay management personn81, Includlng ponsSon contrlbutions, wa8 £118.LWO (2024: £108.000). The ful Ilme equlva18nt number of 8taff who recelvéd remunerallon Ilncludlng employer pension contrfbutton81 greater than £60,000 was: 2025 2024 Numbor Number £80,001 tt) £90,000 £90.001 to £100,000 £100.001 to £110,000 £110,001 to £120,000 The Chlef Exacutlva Officer Is 8 member of the Soclal Houng P&nsion Scheme. He is an ordinary meMr of the scheme and no enhanced or special terms apply. The Charity does not make any further cor7trlbutlcS to an Indlvldu81 pens5on arrangement for the Chlef Exe¢utlv8 Officer. 23
BRUNTS CHARITY Notès to th8 Flnanclal Statements for the year ended 31 Marnh 2025 8. Tangible fixed assets- hou51ng PrOrtIO8 Housing Almshouses properties Improvoments for lettlng Total £000 £000 Cost At 1 Aprfl 2024 Addltlons 4,575 817 1,061 5,392 1,061 At 31 March 2025 4.575 1,878 6,453 Deproclallon At 1 April 2024 Charge fw the year 3,049 126 72 76 3.121 202 At 31 March 2025 3,323 Not book valu• Al 31 March 2025 1,400 1.730 At 31 Morch 2024 745 Cost18 Stated nel of SDclal Houslng Grant. 2025 £000 2024 £000 The not book value of land and bulldings comprlsed: Land 8nd buMdlng8'. Freehold 2,271 9. Flxod assot Inv••tmonts Investment propgrtles £000 Llstad Inv•stments £000 Olhèr InYoJlmonts £000 Total £000 Co8t or valualton At 1 April 2024 Additions R8valuallon 2,097 4,156 69 6,322 15 15 At 31 March 2025 4.171 70 Investment properties were valued on 30 October 2023 by Rlch8rd Watkinson & Parthers, Chartered SuNeyor& The Trustees belleve Ihal thb valuatlon Is 8tHI appropriate at 31 March 2025. The fair valu8 of Ilsted inve8tments is detsmined by reference to the quoted price f¢y identical assats In an adive m8rk81 at the balanoe $heet date. Other investments are measured at cost on the basls that they represent cash Ild on term deposiL Investments shown as fixed assets ruIre the Charity CommissloTr's approv81 before they can bè appropri8ted to new funds. Should new projects be paid for out of these invesknents. sufficient funds, equal to the amounts spent. ttav8 to b8 S8t ask18 Dut of acGumulat8d income. 24
BRUNTS CHARITY Notes to the Flnanclal Stalements for the year ended 31 March 2025 10. Debtors 2025 £000 2024 £000 Trade debtors (gross so¢lal hou$lng rent arrears) Trade debtors (others) Less.. provlsion for bad debts Other d8btors and pr8paym8nts 33 56 18 112) 47 (12) 1,182 109 11. Curr•nt asset Invo8tm•nts 2025 £DOO 2024 £000 Lisled Investm8r Short temi dep08ils 5,436 11 6,679 11 6,890 Thg falr valu8 of listed Invgstments is detsrmln8d by reference to the quoted prf¢8 for Identical 888ets In an tlve market at the b81an¢e sheet dat&. 12. Cr•dltor$: amount• falllng wlthln ono yoar 202S £000 2024 £000 Trado ¢fedltors Rents pald In advance Other tax and social security Accruals and deferred Ineoma 410 10 97 43 R•swv•s In¢om• and expondltura rè8orv• The Income and expenditure reserve reprèsents cumulatrve 8urpluses and deficits nèt of other adjustrnents and Includes a dèsignated fund, eamiarked by the Trustees for th9 extraordinary repair and malntènance of the Almshouses. No mal8rf818xtraordlnary repalrs hav6 be&n r8qulred durlng the yaAr. Rostrlct•d and •ndowm•nt r••erv•8 The Eth81 Wainwdght fund Is restrl¢ted in accord8nce with Eth81 Wainwrfght'8 wishes to prDvide annual Chrlstmas gifts lo the Charitys residents. The Russell Wllllams fvnd Is resfficted In accordancé th Russell Wllllams. wish to provlde the Charlty with spedflc flnance towards c8pltal projects at the Trustèes, discretion. The endowed fund reprèsents property held under endowment by the Charity tt) provide capltal growth and general incom8 lo allow the Charity to meet Its purpJ58.
BRUNTS CHARITY Notès to Iho Flnanclal Slalomonts for the year ended 31 March 2025 14 Pen$lon commttments Brunts Charfty partlclpates In thè Social Houslng Penslon Scheme, a muldryemployer scheme whlch provides benefits to some 500 non-a8$0ciated employers. The scheme is a defined benefit scheme in the UK. Roconclllatlon ol present valuo of plan Ilablllt106 2025 £000 2024 £000 At the beginnlng of th8 year CUnt service cost Expense Inlèrest expense Member contributlons Actuarlal losse$l{gain8) due to Scheme experf8nce Actuadal (galn8> due to change8 In dernographlc 888umptlon8 Actuarial {g8lns) due to thanggs In flnanclal a8surnptlons Benellts pald and expense8 441 47 18 18 71 (3) 37 (52) (25) {3) At the énd of tho year R•conclllatloD of prn•ent valuè of pl•n a88ot• 2025 £000 2024 £000 At tho beglnnlng of the year Int8r8st Income Experlen¢e 009ges) on plan ag50ts Employer contributions Member contrlbutlons Benefrt8 paid and 8xponse$ 3S2 21 (98) 144 20 125) 238 15 {501 134 18 (3) At the end of the year 352
BRuKfs CHARITY Motes to the Flnanclal Statem8nls for thè year ondgd 31 March 2025 14. Penslon commitmont8 (contlnuad) Composltlon ot plan assets 2025 £000 2024 £000 Global equity Absolute return Dlstressed opportunibes Credlt relauve value Liquid alternalivès ternatlve rlsk premla Emerging markets debt Risk 6harlng Insuranc&llnk8d s8¢urtd•8 Property Infrastructtye Hlgh Yleld Rgal ass8ts Private debt Prlvete credtt Credit Invesiment grade credlt Cash Long lea88 propety Secured Income Liabllity drlven invesknant Currency hedglng Net Current a888t8 35 14 12 12 21 21 14 35 14 14 51 16 13 10 143 125 Tolal ass8ts 352 Not pen8lon 8chomo Ilablllty 2025 £000 2024 £0 Falr value of plan assets Present value of plan liabllltle8 414 (493) 352 (441 J Net pension 8cheme Ilability 89 Tho amounts r•cognls•d In the 8tatem•nt of Mmpr•h•n$lvo Incom• am a8 fi>llows: 2025 £000 2024 Current service cost Expenses Nel interegl expense 47 40 51 27
BRUMTS CHARITY Nol•s t¢ thè Flnanclal Statements for th• year ended 31 March 2025 14 PMslon commltm•nls Icontlnuod The amoun18 racognlsod In othor ¢ompr•henslvo Income aro as follow8: 2025 £000 2024 Exp8rl8nc8 (lossl on plan assets (excluding 8mounts Included In net inlerest cost) Exper1er U088V98in arising on plan Ilabllltles Effects of changes In the demographlc assumptions Underfn9 the present value of the defir)ed benefit obligation Effects of changes In th8 finan(4al assumption8 undoriwno tho pr888nt value of the deftned bgnefit obligatlon (981 {37} (50) 1711 52 83 118 Prlnelpal acluarlal a•8umptlon8 at tho balanc• •h••t dat• 1•xp$¥¢d •• wolghtsd av•rag••): 2025 2024 Dlscount rate Inflatlon (RPI) Inflatlon (CPI) Salary growth 5.77 3.11 3.78 3.78 4.89 3.17 2.77 3.77 2025 yoar• 2024 years Mortallty r8tg8: For a pensloner aged 65 now At 65 for a future pensioner now 21.8 23.1 21.8 23.1 The charlty exp1$ to conlrlbute £35,000 lo Its definad benefit p•n8lon scheme In 202512024: £116,000). 15. Capltal ¢ommltmont8 As at 31 March 2025. the charlty had ¢apltal ¢ommltrnents totslllng £945,000 {2024.' £1,106,000) In resp8Ct of property improvement works. 16. Cagh flow from op•ratlng actlvStS01 2025 £000 2024 £000 Surplusl(deficitl for Ihe year 1771 779 Deprecl8tion of fixed assets Lossl(galn> on Investments Interest r8ceived {IreaSedeCrease In debtors Increasel{decrease) in creditors 202 25 (30) (1,124) 367 173 (919) (19) 133) Net cash g6n8rated from operadng activiti88 637 33 28