Charity numbttr.. 235409 THE BROCKLEBANK CHARITABLE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE BROCKLEBANK CHARITABLE TRUST CONTENTS Page Reference and Administrative Details of the Charity. its Tmstees and Advisers Trustees. Report Indopondont Audltors. R•port on Flnanclal Slatsm•nts Stat¢m•nt of Flnan¢lal A¢tlvltl•• Balance Sheet Statom8nt of Cash Flows 10 Not•8 to th• Flnanclal Statem•nt8 11- 18
THE BROCKLEBANK CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Truste8S Mrs D BKKklebank Scott Mr J G A Brocklebank IresKJned 17 September 20231 rs M E Brk1ebank r W F Brk1$bank Charlty r•glst•r¢d numbèr 235409 Principal office Clo Blackbirds House The Street Bulmer Suffolk C010 7EW Indepondent auditors Richardson Jones Limited Charter811 Accwnlanls Mercury House 19-21 Chapel Street Martow Buckinghamshire SL7 3HN Bank•r$ MaeSt Bank 14 Berkeley Square London W1J 6BR Invgstmgnt Managgr Charles Stanley & Co Ltd 25 Luke Street London EC2A 4AR Page 1
THE BROCKLEBANK CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report logether wth the financial stalements of the Charity for the year 1 April 2023 to 31 March 2024. The financial statements have been prepared in accordance with the accounting tx)licies set out in note 1 to the accounts and comply wlh the Charitys trust deed, the Charities Act 2011 and the provisions of the Statement of R8commendeil Pracb"ce ISORPI. applicable lo charities preparing their accounts in accordancè with the Financial Rèporting Standard applicable in the UK and Rèpublic of Iraland IFRS1021 (second edib'on of the Charities SORP IFRS1021 October 2019. effecknve 1 January 2019). OBJECTIVES ANO ACTIVITIES The principal object of the Trust is lo make gfants and donalions to registered charities and to individuals as the Trustees think fit. In reviewing potentsal donees and granl recipients. Ihe Tnjstees are mindful of the Charity Commission's guidance on pU1C benefit. I manner of charitable causes are supp(Yle(J. with the m8in neficiae$ being in the following areas.. the relief of poverty and SLthering the advancgmgnl of the ats, culture, heritage a1 science the relief of those in need, by reason of yOLrth, age. ill healih. disability, imprisonm8nl or financial hardship. The charities and not-lor-profil organisations that are helped by the Tru51 ensure that the public are benefited not only in the local area, bLJI across the British Isles and lurther afield. In setting objectives and planning for activities, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a charity IP821'. ACHIEVEMENTS AND PERFORMANCE R•vl•w of actlvStS•s The activities for the year are sel out in the attached financial statements. The Trustees tske great interest in the prospects, plans. and development of the charities and individuals who receive grants, by obtaining reports and discussing plans where appropriate. In 202312024, the Trustees were glad lo continue to supw)rt many charities acb've in a wide range of 5ubjects,' pea. relign, welfare, personal development. art, ecology and wildlrfe. Inv8stm8nt pollcy and p•rfomiane• The Trust's income is predominantly derived from its investments. which are managed by Charles Stanley & Co Ltd. The investments held by the Trust are for the gener81ion of incoffle whilst preserving capital lo fund future charrtable expenditure. Investments are detailed in note 8 to the accounts. During the year there was £34,909 realised investment gain 12023". £Nill and an unrealised gain of £285,90612023'. £108,910 lossl giving a nat total gain on investments of £320,81512023'. £108,910 lossl. Page 2
THE BROCKLEBANK CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Totsl income for the year was £1.022.78812023'. £29.5021 and the Trustees made donations lolalling £25,014 12023.. £15,840). Closing fund5 were £2,742.79912023.. £1,437.5431, all of which are unre51ricted. The Trustees are delighted with the perfomiance of Ihe charity in the year. Notable improvements were made to the Investment Policy framework which the Trustees believe will maintain the purchasing power of the charitls investments and therefore the value of their donations for recipients. Furthermore. the Trustees were able lo m8ke grants lo a wider range of chanties thanks lo the increased budget 8v8il8ble following James Bro¢klebank's gènerous donats'on. Overall the Trustèès b8li$ve the Trust is on a strong financial foots'ng and will be able to continue to provide support to a wide range of charilable causes over lulure years. As alluded lo above. the significant events that have affected financial performance in the year were the continuing success of the inveslrnenl slr8legy and the large don8b.on by J8rnes Brocklebank. The Trustees ar8 happy with Charte$ Stanlols inv8stment perfomianc8 against the stated Investment Policy when viewed over the timescales it was deswjned for and as the portfolio is positioned vis a vis the business cycle. The lunding sources of the charity remain primarily capital grovAh from the investment portfolk) along with a mrxJ9St amount of in¢ome from Ihesg same inv9s¢menls. Clearty in this particular year the Trust 9njoyed a considerable one-time donation from James Brocklebank, bul donations to do not form part of the Trust's long- term funding plan. Golng concorn The Trustees have a reasonable expeciation thal th8 Charity has adequate resources to continue in operational existence for the foreseeable fulure. For ihis reason. they conlinue to adopt Ihe going concern basis in preparing the finaneial statements. Further details regarding the adoption ol the going eon¢ern basis can bè found in the accounting policies. R•s•rv•8 poIIcy The Trust exists lo make grants lo individuals or charilale organisalion5. 11 has a policy of maintaining its capital assets in order lo generate investment income lo fund these grants. A proportion ol the assets is htrld in cash in order to enable the Trustees to meet all liabilities of the Trust as well as grants as aged by the Board of Trustees. Excluding fixed asset investmenls which are held for the longer lemi, the Trust has free reserves of £98,93612023.' £105,7391, which are available for donations and to cover (he general running costs and Support costs of the Trust. The Trustees cOnser that the current level ol reserves are adequate lo achieve its objectives. The Trustees aim to distribute £50,{ per annum. but this Can v8ry. Futur8 plans The plans for future years are as they have been for decades.. to invest the Trust's assets wisely to preserve purch8sing power over the long term and lo use capitsl and In(x)me to offer the Trustees a gianl-making budget that C8n support a wide number of worthy causes wthout signific2nUy eroding the Trust's capital base over b'me. Page 3
THE BROCKLEBANK CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE. AND MANAGEMENT The Abell Trust was established by a trust deed dated 29 April 1964 from the private funds of Ann Brocklebank. Ann Brocklebank p855ed away in 2007. Followirhg a merger wth Charles Brocklebank Charitsble Trust during 2008 an amèndmènt was made to the dÈÈd datèd 4 March 2008 and the charity chan9èd its nama to Thè Brocklebank Charitable Trust. The Trust is a registered charity, number 235409. The Trustees are family members and it is intended that this should always be so. The Trustees l(K)k after the day to day running ol the Trust and those serving during the year werg.. Mrs D Brocklebank Scott Mr J G A Brocklebank (resigned 17 September 20231 Mrs M E Brocklebank Mr W F Brocklebank There have been no changes in the objectives since the last anl1 report. Page 4
THE BROCKLEBANK CHARITABLE TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, report aTvJ the financial 51atemenls in accordance with applicable law and United Kingdom Accovnling Standards IUnile(l Kingdom Generally Accepted Accounting PractiC81. The law applicable to charf(ies in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the stale of affairs of the Charity and of ils incoming resources and 8pplicalion of resources. including its income and expenditure, for that period. In preparing the58 financi81 statements, the Trustees are require(l io.. s8lecl suitsble accounting poli¢i8s and then 8pwly thom consislenlly. obsetve the methods and principles of the Charities SORP IFRS 102)., make judgments and 8ccounling estimates that are reasonable and prvdenl,. state whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial stslements., prepare Ihg financial statements on the going nCeM basis unless il is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charills Ir8ns8¢tions anLI (li10$e with reasonable accuracy al any lime the finan¢i81 ptssilion of the Charity and gnable them lo ensure Ihal the financial slal$m8nls comply wtth th8 Charities A¢1 2011, the Ch8rily (Accounts and Rew)rtsl Regulations 2008 and the provisions ol th¢ Tnjsl deed. They are also responsible for safeguarding th8 assets of the Charity and hence for taking reasonable sleps for the prevention and detection of fraud and other iryegularitie5. Approved by order of the members of the board of Trustees and signed on their b&half by.. Mrs D Brocklebank Scott Trustee Date.. 29-01-2025 Page 5
INDEPENOENT AUDITOR'5 REPORTTO THE TRUSTEES OF THE BROCKLEBANK CPIARifA8LÉ TRUST Opwbion We have audited the financial ststements of The Brocklebank (haritable Trust lthe .ttnl for the year end&1 31 March 2024 which comprise the sratement of Financial the Balance Sheet. the 5ratemenl of Cash Flows and notes to the financial statements, including signifitsnt accounting polities. The financial reporring framewo that has been applied in their preparatn is applicable law 3nd United Kingdom AccountingStandard5, including FinarKial Reportingstsndard 102TheFinancial Reportingstsndard applicable inthe UKand Republicof Ireland (United Kingdom Generalty Accepted AccoUntingPraLtiI. In our opinion thefinancial statements.. give a trueand fairview oftheststeof the charrvs affairs asat 31 Marth 2024. and of itsirKcrfning rerce53nd application of resources, including its incorne aj expeIitUre, lortheyearthen erxled.. have been property prepared in accordancewf(h United KingdomGeneralty Acclpted AcCnting practi.. ar have been prepared in accordancewf(h the requirementsoltheCharitie5A£t 2011. Basi5 foropinion Weconducted ouraudit inaccordancewith Internati¢xalStsndardsonAuditinglUKI IISAslUKllandapplublel3w. Ourresponsibiif(iesunder those standards are further described in the auditor reSnsibIlItS for the audit of the financial statements sertDn of our report. We are independent of the charity in accordance with the ethical requirements tt are relevant to our audr( of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we have fvlfilled our other ethical responsibil((ie5 in xcordance wf(h these reqU1Ments. We believethat the audit eVenCe we have obtained is suffKieTht and appropriateto provkle a basisfor wropinion. condusbonsrtktlngtololtOrt¢eM In auditingthe financial Statements, we haveconcluded thatthetnL4tees' useof the8oingcceffl basilofaccounting in the preparatk)n of the financial statements is ar4)ropriate. a5ed on the workwe have performed.weha¥e not tyjentified anymaterial uncertaintie5 relatingtoeventsorcdltlon5th3t, individually c collectively, mayca5t significantdoubton thecharitV53trflitytocontinuea5awwconcem fora FeriLOofat leasttwdve nnthsfrOMWhen the financial statements are authorised lor issue. Our spOnSibl11es3l the responsibilr(iesofthe irusteeswrth respert i0801cOeM are described in the leVant$eCtons ofthis pOrt. Other Snformbn The other inlormatlon comwises the infom)ation Included in the trusiees, annual rew¢ other than the financkl statements and our audr(ols report thereon. The trustees are reswnsibleforthe other inl¢ymatMy). Ci4f OP¥Non on the financial statements does not coverthe other information and wedo not expressany form Olassurancetondusrt thereon. Our rpOnsIbIlity is to read the other information and. in doing so. consider whether the other information is materially inc¢)nsiStent with the financial ststements or our knowledgeobtained iThthe wurse oltheauditorothemseappearsto be materlIV misstated. If we identify such material inconsistencies or apparent material misststements. we are required to detem)ine %thether thi5 gwes rise to a rnaterial mi55tatement in the financial statements themsefve& 11. based on the work we have performed, we conclude that there 15 a rn3terial misststement of this other inlormatK)n, weare required to report thatfxL We have nothinB to report in thi5 regard. Matters hh weare rewlredtoreport byexcepl We have nothing to report in respett of the followin8 matters in rdathM to whKh ihe Chaiitie5 IAc(tyJnts and Reportsl Regulations 2008 require usto report to you if. in our0p1n'. the information gnien in the trustees. reprrt is inconsistenlin anymaterial respectwith the finanaal ststernents.. or sufficient accounting records have Tr)t been kepL or the financial statements are not in agreement wth the accwntirs record5', or we have not received all the information and expknatiwswe requ1reforouraJIL Re5ponsibililiesof trustee5 As explained more ful in theirusteeg resps111[tes $ernent out on paEe 5. the trustees are n>bIefor the preparatK)n of the financial statements and for being satisfied that thÉy gNe a true and fair Mew. and for such intemal control as the trustees determine is necessaryto enablethe prat)n of financM31 stementsthatarefreefrom maierial msstement. whetherdue tofraud orerror. In preparingthefinancial ststements.thetru5tee5are re5pon5iblefDra5Ses5itheChar1wsabIlitytQCt1nUeaSa 8o1ngconm, di5c105in8, asapplicable, rnatters related to goingcorKem aThJ ingthe80ingcOncern basis of accnti unle55 thetrustees eitherintend to liquidate the charity orto cease operations, or ha¥eno realistic aeMaINe LKrt todo 50. AIKlitor re5p)nsibililiEsforthe audiloftheknial ststernents We have been appointed as auditor under sn 144 of the tharitiÉs Att 2011 and rert in CordanCe vmth the Act 3nd relevant regulations made or havingeffectthereunder. Pag8 6
Our objettives are toobtain reasonable assUrae aut thQrthefinanoal statements as a 5¥hoa f from material misstatement, whetherdueto fraud or error, arKI to issue an audit(¢s rerx)rt that indudes ouropinion. Reasonalt assurance is a hieh levd of assurance, but is not a guarantee that an athit condurted in accordance with1SAs IUKI will always detect a material misstatement when it exists. mStateMentScan3riSefrOm fraudorerrorand arÈconsidered materi11rf, indniidualtyorintheaggregate.theycould aSOnabbeeXpeCted to influencetheeconomic decisions of users tsken on the b3stsofthese financial statements. Irregularitie5. including fraud. are instances of nc-(omk3nce with laws and regulation5. We design w£Kedures in line wth our responsibilitie5, Outlined above. to detect material mtatents in respect of irreguL3r1. induding fraLKI. The extent to which our pedureS are capable of detecting irregularitie5, indudingfraud detailed bdovr. Wegained an understanding ofthe legal a1 ulat0ryfrJMewOrkappItsEde toThe BrocklÈbankCharitsbleTnJst and thesector in which it operates. and con%dered the risk of acts bythecharfy that were contraryto applicable laws and regulations, including fraud. wedigned audit procedures to res to the risK rec(8nisingthatthe riskof not detectirq material misstatement due to fraud is higher than the risk of not detecting one resU1n& from error. as fraud may irN0e deliberate coKealment by. for eKarnp, forgery or intentional m1sreprentaon$. or thrgh collusion. We focused on law5 and regulation5 which could gi¥e ri5eto a material mterrn1 in t finanual staternts. includin& but not limited to, the Charfcie5Act 2011 and UKtsx le8i5latn. Our prLKeduresinduded= agreeingthe financial stateMentd1reS to undetyngyJFPJrtingdocumentatv enquiries ol trustees under5tsndinB the thariV5 intemèl controls reading the minutes of rneetingsof trustees BeUSe of the inherent limf(ation5 of an aLklit, thefe 15 a risk that we wll not detect all IeSUl3ntie5, indJIng those leading to a rnaterial mi55tatement in the financial 5tstements or non<ompliance with regulation. Thi5 risk increases the more that compliance with a law or re8ulation is removed from the events arKI transactions reflected in the finanoal stateNnts, as we will be less likely to become aware ol Instances of non-compliance. The nsk is also 8reaier re8ardin8 IrgurItieS occurrin8 due io fraud rather than error, as fraud involves intentional concealmenL for8ery, colluyon, omissionorm1spreSenIatson. Afurtherdescription OfcUr$POnsi'l1IieS15avallaI1leOntheFRcsweb$r(eat.'Www. part of ourauditorfs pOrt. Use 0f0urrert This report is made solety to the charws trustees, as a boty. In cOldanCeWth Pan 4 of the charleS (Accounts and Reports) Regulatlons 2LU. Our audit work has been undertaken so thai wemighi slate ro the ctsrivs trusrees those mèttersweare required to stateto them in an auditorf5 report and for no other purpwe. To the bjllest extent perrnited by law, we do not aCpt or assume responsibility to 4nyone otherthan the charity and thecharws trustees asa body. for ¢)uraudit work, forthis pOrt,off0rthe0PinI9n5 we haveformed. .This deKriptionforms Richard50n Jone5 Limr(ed (Statutory Audrtorl Chartered Accountants & Re81StereilArtors Mercury House 121 Chapel street Marlow 8uckinghamshlre SL7 3HN Date... 29-01-2025 RKhordsonJone5 bmitedi5 eligible for appointrnent a5 auditorof the charity by irtue of its eli8ibility forapFointmenta5auditorofz company under Section 1212 olthe companSAct 2CO6. Pag8 7
THE BROCKLEBANK CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Not• INCOME FROM.. Donations and legacies Investments 1,000,000 22.788 1.000,000 22,788 29,502 TOTAL INCOME 1,022.788 1.022,788 29,502 EXPENDITURE ON: Raising funds Charitable actiwties 7,655 30,692 7,655 30,692 16,482 17,459 TOTAL EXPENDITURE 38,347 38,347 33,941 NET INCOMEIIEXPENDITUREI BEFORE NET GAINSIILOSSESI ON INVESTMENTS Net gainsllloss8sl on investments 984.441 320,815 984,441 320,815 14,4391 {108,9101 NET MOVEMENT IN FUNDS 1,305.256 1,305,256 1113,3491 RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds 1,437,543 1,305,256 1,437,543 1.305,256 1.550,892 1113,3491 TOTAL FUNDS CARRIED FORWARD 2.742.799 2.742,799 1,437,543 In 2023 all income, expenditure. and funds were unrestricted. The Statement of Financial Actiwbes includes all gains and losses OgnISed in tho year. The notes on pages 11 to 18 lom) part of these financial statements. Page 8
THE BROCKLEBANK CHARITABLE TRUST BALANCE SHE AS AT 31 MARCH 2024 2024 2023 Note FIXED ASSETS Investments 2,646.468 1,331,804 2,646,468 1,331.804 CURRENT ASSETS Cash al bank and in hand 101.485 107.293 101.485 107,293 Creditors.. amounts falling due within one year 15.1541 11,5541 NET CURRENT ASSETS 96.331 105,739 TOTAL NET ASSETS 2,742.799 1,437,543 CHARITY FUNDS Unrestricted funds 2,742.799 1,437,543 TOTAL FUNDS 2,742.799 1,437,543 The financial slalemenls wgre approved and authwised for issug by thg Trustg9s and signgd on their bghaK by. Mrs D Brackl•bank Scott Trustee Dale: 29-01-2025 The notes on pages 11 to 18 fom part of Ihese financial statements. Page 9
THE BROCKLEBANK CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Nel cash Used In operating 8Ctiwties 965,253 133,9371 CASH FLOWS FROM INVESTING ACTIVITIES Dividends, inltrresls and rtrnts from investments Proceeds from sale of invesiments Purchase of investments 22.788 684,010 11,677.8591 29,502 NET CASH (USED INIIPROVIDED BY INVESTING ACTIVITIES 1971,0611 29,502 CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 15.8081 107,293 14,4351 111,728 Cash and ¢ash equivalents at the beginning of the year CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 101,485 107,293 The notes on pages 1110 18 lorm part of these financial statements Pago 10
THE BROCKLEBANK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial slatements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporbr¥J by Charities-. Siatemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectNe 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charitses Act 2011. The financial statements have been prepared to give a Irue and fairf view and have departed from the Charities IAccounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf wew. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effects've from 1 April 2005 which has since been wthdrawn. The Brocklebank Charitable Trust meets the definition of a public benefit entity under FRS 102. A5se15 and liabilitie5 are inits.ally recognised al historical cost or transaction value unless otherwise staled in the relevant ac¢ounb"ng policy. There were no Significant gstsmates or judgement$ made by managemgnt in preparing these financial statements, except the valualion of investments as calculated by Charfes Stanley & Co Ltd. 1.2 GOING CONCERN The Trustee$ have reviewed the financial positi¢ of the ¢harty and have a rgasonable expectation Ihat the charity has adequate resources lo conlinue in operational existence for the foreseeable future. Accordingly, the financial stalements continue to be prepared on the going conc8rn basis. 1.3 FUND ACCOUNTING General funds are unrestricted funds which are available lor use at the discretion of the Trustees in furtherance ol the geneial objeclives of ihe Charity and whsch have not been designated for other purposes. 1.4 INCOME All income is recognised once the Charity has entillement lo the income, il 15 probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is laken as lh6 eadier of the date on lch either.. the Trust is aware that probate has been granted, the esiate has been finalised and notrfication has been made by the executorlsl to ihe Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy. in vknole or in part. is only considered probable when the amount can be mtrasured reliably and the Trust has notified of the exeouloes intention lo make a dislribulion. Where legacies have been notified to the Trust, or the Tnjst is aware of the granting of probate, and Ihe crileria for income recognitson have been mel, Ihen the legacy is treated as a contingent asset and disclosed if material. Inltrr$st on funds h$ld on deposit is in¢lu¢Je(I when receivable and the amount can be measured reliably by the Trust., this is nomally urM)n notification of the interest paid or payable by the Bank. Diwdends are recognised once the diwdend has been declared and notrficalion has been received of the dividend due. Page 11
THE BROCKLEBANK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES {CONTINUEDI 1.5 EXPENDITURE Expenditure is recognised once there 1$ a legal or constnjctive 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 amounl of the oblwJation can be measured reliably. Expenditure on raising funds relates to investment management lees. Expenditure on charitable activibes is incurred on directly undertaking the activities which further the Trust's objectives. as well as any associated support costs. Govemance c0515 are those incurred in connecli¢)n with administration of th8 Trust and compliance with conslilutional and slatultsry requirements. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional. Such grants being recogni5ed as expenditure when the conditions attaching are fulfilled. Grants offered subject lo conditions which have not been met at the year end are noted as commilmenl. bul not accrued as expenditure. All expenditure is indusive of irrecoverable VAT. 1.6 INVESTMENTS Fix9tJ assel invgstmgnts are a fom) of financial instrument and are initially recognised al their Iransaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in vthich case it is measured at cost less impairrnenl. Investment gains and losses. whether realised or unrealised. are combir*d and presented as 'GaIn{Lo$SeSI on inveslmenls, in the Statement of Financial Acts"wlies. 1.7 CASH AT BANK AND IN HANO Cash al bank and in hand includes cash and short-lerm highly liquid investments wth a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.8 LIABILITIES AND PROVISIONS Liabilities are rec(KJnise(I when there is an obligation at the Balance Sheet dale as a result of a past event, it is probable that a transfer of economic benefit wll be required in sottl¢m¢nt, and the amount ol the settiemenl can be estimated reliably. Liabilities are recognised al the amount that the Charity anlicipales il will pay lo settle the debt or the amount il has re¢eived as advan¢e(I payments foT the goods or services it must provide. 1.9 FINANCIAL INSTRUMENTS The Charity only has financial assets and fin8nci81 liabiltties of a kind that qualify as basic financial instmmenls. Basic financial instruments are inth.alty COgnised al transaction valu& and subseqLJently measured at their seluement value wtth the exception of bank k)ans which are subsequently measured at amortised cost using the effective interest melhod. Pago 12
THE BROCKLEBANK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM DONATIONS AND LEGACIES Unrestricted funds 2024 Total funds 2024 Totsl funds 2023 Donations 1,000.000 1,000,000 INVESTMENT INCOME Unrestrlcted fund¥ 2024 Total funds 2024 Total funds 2023 Dividends and interest 22,788 22,788 29,502 TOTAL 2023 29,502 29,502 ANALYSIS OF EXPENDITURE BY ACTMTIES Support and govemance ¢asts 2024 Grant fundlng of aetlviti•$ 2024 Total funds 2024 Total funds 2023 Charitable actiwtles 5,678 25,014 30.692 17,459 TOTAL 2023 1,619 15,840 17,459 Pago 13
THE BROCKLEBANK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF GRANTS AND DONATIONS 2024 2023 Gr*nts to Instltutlons Abingdon Schcol East Anglian Air Ambulance Elon Action IRowing lor Ukraine) Friends of Amani 1.100 500 500 840 Gainsborough's House Heritage of London Trust London Library RA Silver Patron RNLI Ruth Strauss Foundation SAVE Sl, Andrew's Youth Club St. Mary's Church, Fabric Fund St. Mary's Church, North Creake Sl. Mary's Church, The Communty Hardship Fund Suffolk Historic Chuh8$ Trust. LoThJ Melford Tall Ships Youth Trusl The Fishmongers 750th Anniversary The Fitzwilliam Museum The Gresham's Foundation The Radley Foundation The Wheelyboat Trust University ol Cambridge, FIt'111aM Museum Venice in Peril Wells Community Hospitsl Trust Other charities 1.250 1,000 500 1,000 1,500 1,300 1.000 500 400 100 500 1.000 500 500 2,000 1.000 750 2,800 2.000 2,000 1,000 2,500 1,350 500 1,500 8.124 11,0001 1,500 Less prior year grants reversed 25.014 15,840 Pago 14
THE BROCKLEBANK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT AND GOVERNANCE COSTS Support Govemance costs costs 2024 2024 Total funds 2024 Totsl funds 2023 Audit fees Ac¢oun¢ancy fges Secretarial and other expenses Bank charges 3.600 1,554 3,600 1.$54 519 1,558 61 519 524 5,154 5,678 1,619 TOTAL 2023 61 1,558 1,619 Pago 15
THE BROCKLEBANK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 KEY MANAGEMENT PERSONNEL TRUSTEES. REMUNERATION AND EXPENSES The Trust considers its key management personnel to be the Tnjstees. The Trustees all give their time and expertise without any form of remuneration or other benefit in kind12023'. £Nill. During the year ended 31 hAarch 2024, no Trustee rec•ved any reimbursement of eXnseS, or had expenses paid directly to a Ihird paty12023= £Nill. FIXED ASSET INVESTMENTS Llst•d Invostments COST OR VALUATION At 1 April 2023 Additions Disposals at opgning market value (proceed$ £684.010. realised gain £34,909) Unrealised gain on investments 1,331,804 1,677,859 1649,1011 285.906 AT 31 MARCH 2024 2,646,468 AJI listed sKuntie$ ore held in the UK. Al investments are carried al their fair value. Investment in equrtie5 and fixed interest securitie5 are all Iradetl in quoted publi¢ markets, pnm8ri1y the L¢y)tJon Stock Exchange. Holdings in common investment funds, unil trusts and open-ended investment wmpanies are al the bid price. The basis ol fair value for quoted investments is eqLJivalent (o the market value, using the bid price. Asset sales and purchases are recognised at the dale ol trade at cost Ithal is theii transaC[n value). The Trustee5 delegale the m8nagefflenl of their investments lo Chades Stanley & Co Ltd. The charity is operating an inveslmenl policy that provides for a deg8 of diVersl¢allOn through invgsling in a charity fund and government stock. This should protect the charity's exposure to volatility in the market. The charity generally seek low risk investments wherever possible and does not make use of derivalives and similar complex financial inslrurnenls as il takes Ihe view that investrnents are held for their longer term growth and annual income. The charty has no material Investment holdings in markets subject lo ox¢hange ¢ontrols or trading restri¢tions. Page 16
THE BROCKLEBANK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals 5,1S4 1,554 RECONCILIATION OF NET MOVEMENT IM FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 10. 2024 2023 Nel incomelexpendilure for the las per Stslement of Finanual Acliviliesl 1,305,256 1113,3491 ADJUSTMENTS FOR: Gainslllossesl on investments Dividends, interests and renis from inv¢stmenls Increase in creditors 1320,8151 122,7881 3.600 108,910 129,5021 NET CASH PROVIDED BYI{USED INI OPERATING ACTIVITIES 965,253 133,9371 11. ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash in hand 101.485 107,293 TOTAL CASH AND CASH EQUIVALENTS 101.485 107,293 12. ANALYSIS OF CHANGES IN DEBT At 1 April 2023 Cash flows At 31 March 2024 Cash at bank and in hand 107.293 {5.8081 101.485 107.293 {5.8081 101.485 Pago 17
THE BROCKLEBANK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. RELATED PARTY TRANSACTIONS During the year the Trust received a one-off donation of £1,000.Tr)O, including grft aid, from one Trustee. The Trust has not entered into any other related party transaction during the year, nor ar8 there any oulslanding ba18n¢es owing belween related parb.es and the Trust at 31 March 2024. Page 18