## **Registered Charity no. 214966**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2025 FOR THE THOMAS BROMWICH TRUST**
Correspondence: The Vicarage Church Road Perry Barr Birmingham B42 2LB
THOMAS BROMWICH TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28TH FEBRUARY 2025
**REFERENCE AND ADMINISTRATIVE DETAILS Registered charity number** 214966
**Principal address** The Vicarage Church Road Perry Barr Birmingham B42 2LB
**Trustees**
Mr J Hofton (Acting Chair) Revd. E R Longhurst (appointed 15/10/25) Mrs D Duggan Revd. M C Rutter Mrs H E Allen Dr J M Milne (resigned 24/02/25) Revd. T Thurston-Smith SMMS Revd. E Fisher (resigned 06/01/25) Revd. D Payne (appointed 15/10/24) Mrs S Smith (resigned 15/10/24)
**Clerk to the trustees** Chrissy Garrad Garrad Enterprises Limited The Estate Office, Wharf Cottage Broombank Tenbury Wells Worcestershire WR15 8NY
**Investment managers** Canaccord Genuity Wealth Management Slip House Princes Drive Worcester WR1 2AB
THOMAS BROMWICH TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28TH FEBRUARY 2025
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The origins of the charity arise from the will of Thomas Bromwich in 1579 and first became subject to a Charity Commission Scheme in 1872. The charity is an unincorporated association currently governed by a Scheme of the Charity Commission dated 7 May 2010.
## **Recruitment and appointment of new trustees**
The power to appoint new trustees resides with the trustees of the time as set out in the governing document.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the notes to the financial statements
## **Subcommittees**
The Scheme of the Charity Commission allows for grants to be made through subcommittees. The Trustees have appointed three subcommittees to administer the charity in the three historic areas of operation: Handsworth, Perry Barr and Great Barr.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Thomas Bromwich Trust's objects and principal activities are to apply the income of the charity to relieve either generally or individually persons resident in the area of benefit who are in conditions of need, hardship or distress. Applications can be made through the local subcommittees. The trustees have complied with their duty in Section 4 of 2011 Act to have due regard to guidance on public benefit published by the commission.
## **FINANCIAL REVIEW AND RESERVES POLICY**
## **Restricted Funds**
The charity endowment funds are all invested in stocks and shares. The capital is restricted, and invested by the trustees with the aim of maximizing income and capital growth at low risk. The trustees meet with their investment manager and stockbroker once a year to review investments.
## **Unrestricted Income**
It has been the practice of the trustees to distribute the income from investments equally between the three subcommittees for the purpose of making grants. However, unrestricted income held and administered by a local subcommittee may be applied anywhere in the overall area of benefit. An investment fund for unrestricted income was established in December 2012.
## **Achievements and performance**
The value of investments amounting to £1,213,571 (2024 £1,146,358) has remained stable, reflecting market trends. The Trustees believe the investments reflect a balanced portfolio, with risk spread across different market sectors. During the year, the Trustees received income from investments amounting to £51,478 (2024 £46,438) from which administration expenses amounted to £1,570 (2024 £1,370), bank charges £65 (2024 £69), investment management charges £10,956 (2024 £10,452) and Charitable grants amounting to £18,065 (2024 £24,114).
THOMAS BROMWICH TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28TH FEBRUARY 2025
## **Reserves policy**
The Trustees reserves policy is to maintain a sufficient level of unresticted reserves to enable normal operating activities to continue over a period of twelve months should a shortfall in income occur and to take account of potential risks and contingencies that may arise from time to time.
## **ON BEHALF OF THE BOARD OF TRUSTEES**
The Trustees consider that, in preparing these financial statements, they have used appropriate policies, consistently applied and supported by reasonable and prudent judgements and estimates. The Trustees are responsible for keeping proper accounting records to enable them to ensure that the financial statements comply with regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **ACCOUNTS EXAMINER**
The Trustees have appointed Mrs S Reeves as the Trust's Independent Examiner.
Signed on behalf of the Trustees on 14th May 2025.
Mr J Hofton Acting Chair
THOMAS BROMWICH TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28TH FEBRUARY 2025
I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 28th February 2025.
## **Responsibilities and basis of report**
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the Act.
## **Independent Examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect;
- ●the accounting records were not kept in accordance with section 130 of the Act; or
- ●the accounts did not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S A Reeves FCCA S A R Accountants Tower View Broadway Road Broadway Worcs
14th May 2025
## **RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 28TH FEBRUARY 2025**
|Notes
**RECEIPTS**
Donations received
Investment income
1
**ASSET AND INVESTMENT SALES**
Receipts from sale of investments
**TOTAL RECEIPTS**
**PAYMENTS**
**Costs of generating funds**
Investment management costs
**Charitable activities**
Grants
2
Bank charges
**Governance costs**
Charity administration
Local expenses
3
**ASSET AND INVESTMENT PURCHASES**
Purchase of investments
**TOTAL PAYMENTS**
**NET OF RECEIPTS/PAYMENTS**
CASH FUNDS AS AT 28/02/24
CASH FUNDS AS AT 28/02/25|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2025**
**2025**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
-
500
-
500
51,478
-
51,478
45,708
730
46,438
51,478
-
51,478
46,208
730
46,938
-
172,916
172,916
15,036
166,121
181,157
51,478
172,916
224,394
61,244
166,851
228,095
-
10,956
10,956
-
10,452
10,452
18,065
-
18,065
24,114
-
24,114
65
-
65
69
-
69
1,570
-
1,570
1,370
-
1,370
-
-
-
-
-
-
19,700
10,956
30,656
25,553
10,452
36,005
-
169,861
169,861
15,252
241,252
256,504
19,700
180,817
200,517
40,805
251,704
292,509
**31,778**
**(7,901)**
**23,877**
**20,439**
**(84,853)**
**(64,414)**
114,180
20,044
134,224
93,741
104,897
198,638
**145,958**
**12,143**
**158,101**
**114,180**
**20,044**
**134,224**|
|---|---|
## **STATEMENT OF ASSETS AND LIABILITIES AS AT 28TH FEBRUARY 2025**
|Notes
**CASH FUNDS**
Cash at bank
Cash (Handsworth subcommittee)
Cash (Great Barr subcommittee)
Cash (Perry Barr subcommittee)
Cash held by stockbroker
**TOTAL CASH FUNDS**
**INVESTMENT ASSETS**
Investments
4|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2025**
**2025**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**
60,742
-
60,742
33,238
-
33,238
20,165
-
20,165
18,523
-
18,523
41,519
-
41,519
42,357
-
42,357
16,681
-
16,681
14,181
-
14,181
6,851
12,143
18,994
5,881
20,044
25,925
**145,958**
**12,143**
**158,101**
**114,180**
**20,044**
**134,224**
33,721
1,179,850
1,213,571
32,414
1,113,944
1,146,358|
|---|---|
The financial statements were approved by the Board of Trustees on 14th May 2025 and were signed on it's behalf by:
Mr J Hofton Acting Chair
**NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 28TH FEBRUARY 2025**
## **1. Investment Income**
|Interest on cash deposits
Handsworth subcommittee
Great Barr subcommittee
Perry Barr subcommittee
Total
Dividends received
**Total investment income**
**ade to individuals**
Handsworth subcommittee
(16 grants)
Great Barr subcommittee
(18 grants)
Perry Barr subcommittee
(33 grants)
Main account
Total|**2025 (£)**
91
341
-
432
51,046
51,478
**2025 (£)**
6,450
6,115
5,500
-
18,065|**2024 (£)**
80
295
-
375
46,063
46,438
**2024 (£)**
4,750
9,039
10,325
-
24,114|
|---|---|---|
## **2. Grants made to individuals**
## **3. Trustees' and other Remuneration and Expenses**
No remuneration was paid or payable in respect of the year, out of the funds of the Trust, either directly or indirectly to any Trustees.
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 28TH FEBRUARY 2025**
## **4. Investment assets**
## _**Restricted investment assets**_
|**_Restricted investment assets_**||||||
|---|---|---|---|---|---|
||||**Holding**|**2025 (£)**|**2024 (£)**|
|AXA Fixed Interest Investment|||_48000_|40,742|40,027|
|City of London|||_9700_|42,923|37,733|
|Capital International|(bought 3200)||_3200_|29,568|.|
|CRH Ord Eur 0.32|_(sold 125)_||_625_|50,700|46,485|
|Dunedin Income Growth Investment|Trust||_17750_|50,410|48,280|
|Ecofin GBL|||_14000_|26,180|21,070|
|Fidelity European|_(sold 2850)_||_13000_|51,285|58,566|
|Findlay Park American|_(bought 150)_||_150_|26,960|-|
|Finsbury Growth|(sold 1405)||_4850_|44,475|53,543|
|Guinness Global|||_1105_|36,293|32,373|
|HICL Infrastructure|(bought 7900)||_31500_|34,776|29,358|
|International Public Ptns|||_28250_|31,640|35,426|
|Ishares Core GBP|||_260_|31,957|31,845|
|Ishares S & P 500|||_850_|39,558|33,977|
|J P Morgan Global|_(sold 3330)_||_11330_|46,160|61,522|
|Foresight Environmental Assets|||_37000_|26,455|37,518|
|JP Morgan Asia Grw & Inc Plc|_(sold 9920)_|||-|-|
|JP Morgan GBL Emerging Mkts|||_29460_|39,624|37,856|
|Jupiter Unit Trust|_(sold 100000)_||_50000_|40,440|80,940|
|Legal & General|||_9500_|23,237|22,696|
|Mercantile Investments|||_12000_|28,500|25,860|
|MI TwentyFour Focus|||_48000_|44,645|-|
|North American Income|||_10500_|35,805|29,820|
|Personal Assets Trust|||_8400_|42,756|39,774|
|Rathbone Ethical Bond|||_50000_|44,660|43,835|
|RELX Plc|_(bought 700)_||_700_|26,719||
|Schroders Plc|_(sold 5400)_|||-|20,779|
|Scottish Mortgage Invest. Trust|||_4275_|44,524|34,191|
|Smith & Nephew|||_1900_|21,850|19,912|
|Smurfit Kappa Group Plc|||_800_|32,824|26,656|
|SSE Plc|||_1500_|22,913|24,180|
|Schroder Asian Income|||_43000_|35,712|-|
|TR Property Investment|||_9000_|27,045|27,720|
|Tritax Eurobox Plc|_(sold_|_33464)_||-|17,970|
|Vontobel Fund|||_450_|43,412|41,549|
|Whitbread|||_565_|15,102|19,549|
|||Total (income yielding):||1,179,850|1,081,010|
## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 28TH FEBRUARY 2025**
## **4. Investment assets cont.**
## _**Unrestricted Accumulation Fund (opened in December 2012 to invest unspent income)**_
|JP Morgan Global Growth & Inc
UK Treasury 4.5%
**Market Value**|3200
18,464
17,376
_(bought 15000)_
15000
15,257
15,038
Total (unrestricted fund):
33,721
32,414
**2025**
**2024**
**1,213,571**
**1,113,424**|
|---|---|
-
## **APPENDIX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2025**
## **For Trustees information only Grants made in 2024-25**
|_Handsworth Subcommittee_
J Pinnock
M Khan
St Michael's Church
L McLean
K Hayes
B Singh
S E Gadoui
St Mary's Church
St Michael's Church
D Wilson
E Bernard
St Mary's Church
A Latif
D Wilson-Thomas
D Broadbent
T Bou-Martin
St Mary's Church
**Total:**|_(£)_
_Great Barr Committee_
(£)
300
Essential Skills
460
100
St Bernard's Church Foodbank
1,000
1,000
St Margaret's School
600
300
L Twigger
300
150
St Bernard's Church Foodbank
1,500
300
St Margaret's School
495
300
G Morris
300
300
St Bernard's Church Foodbank
1,500
1,500
300
300
300
100
300
300
300
300
**6,450**
**£**
**Total:**
**6,155**
**£**|
|---|---|
## **APPENDIX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2025**
## **For Trustees information only Grants made in 2024-25**
|_Perry Barr Subcommitte_||_(£)_||
|---|---|---|---|
|T Warrilow||300||
|L Leader||350||
|A Assist||350||
|C Vaughan||300||
|S A King||300||
|T Hinson||300||
|C Gebhard||350||
|HomeStart B'ham||400|*|
|A Gardner||400||
|R Firth||200||
|J Richards||300||
|G Turley||400|*|
|B Chambers||200||
|S Baker||300||
|K Flint||300||
|S Lane||350||
|C Holland||300||
|J Holland||300||
|M Ford||300|*|
|S Barzey||300||
|J Kay||300||
|Grants awarded||6,600||
|* cheques not presented - w/off||1,100
-||
||**Total :**|**5,500**||
|||||