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 Br￿k1ebank r W F Br￿k1$bank Charlty r•glst•r¢d numbèr 235409 Principal office Clo Blackbirds House The Street Bulmer Suffolk C010 7EW Indepondent auditors Richardson Jones Limited Charter811 Accwnlanls Mercury House 19-21 Chapel Street Martow Buckinghamshire SL7 3HN Bank•r$ Ma￿eSt 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 pU￿1C benefit. I manner of charitable causes are supp(Yle(J. with the m8in ￿neficia￿e$ being in the following areas.. the relief of poverty and SLthering the advancgmgnl of the ats, culture, heritage a￿1 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￿. relig￿n, 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 charilal￿e 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 ag￿ed 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 cOns￿er 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 an￿l￿1 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 (li￿10$e with reasonable accuracy al any lime the finan¢i81 ptssilion of the Charity and gnable them lo ensure Ihal the financial slal$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 .tt￿n￿l 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 preparat￿n is applicable law 3nd United Kingdom AccountingStandard5, including FinarKial Reportingstsndard 102TheFinancial Reportingstsndard applicable inthe UKand Republicof Ireland (United Kingdom Generalty Accepted AccoUntingPraLti￿I. In our opinion thefinancial statements.. give a trueand fairview oftheststeof the charrvs affairs asat 31 Marth 2024. and of itsirKcrfning re￿￿rce53nd application of resources, including its incorne a￿j expe￿IitUre, lortheyearthen erxled.. have been property prepared in accordancewf(h United KingdomGeneralty Acclpted AcC￿nting 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 reS￿nsibIlIt*S for the audit of the financial statements sertDn of our report. We are independent of the charity in accordance with the ethical requirements t￿t 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 reqU1￿Ments. We believethat the audit eV￿enCe we have obtained is suffKieTht and appropriateto provkle a basisfor wropinion. condusbonsrtktlngtolol￿tOrt¢eM In auditingthe financial Statements, we haveconcluded thatthetnL4tees' useof the8oingc￿ceffl basilofaccounting in the preparatk)n of the financial statements is ar4)ropriate. a5ed on the workwe have performed.weha¥e not tyjentified anymaterial uncertaintie5 relatingtoeventsorc￿dltlon5th3t, individually c collectively, mayca5t significantdoubton thecharitV53trflitytocontinuea5awwconcem fora FeriLOofat leasttwdve n￿nthsfrOMWhen the financial statements are authorised lor issue. Our ￿spOnSibl1￿1es3￿l the responsibilr(iesofthe irusteeswrth respert i0801￿cO￿eM are described in the ￿leVant$eCt￿ons ofthis ￿pOrt. Other Snform*bn 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 Olassurancetondus￿rt thereon. Our r￿pOnsIbIlity 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 mater￿lIV 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 ￿￿h￿h 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 requ1reforoura￿JIL Re5ponsibililiesof trustee5 As explained more ful￿ in theirusteeg resp￿s1￿11[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 p￿￿rat￿)n of financM31 st*ementsthatarefreefrom maierial msst*ement. whetherdue tofraud orerror. In preparingthefinancial ststements.thetru5tee5are re5pon5iblefDra5Ses5i￿theChar1wsabIlitytQC￿t1nUeaSa 8o1ngcon￿m, di5c105in8, asapplicable, rnatters related to goingcorKem aThJ ￿ingthe80ingcOncern basis of acc￿nti￿ unle55 thetrustees eitherintend to liquidate the charity orto cease operations, or ha¥eno realistic a￿eMaINe LKrt todo 50. AIKlitor re5p)nsibililiEsforthe audiloftheknial ststernents We have been appointed as auditor under s￿n 144 of the tharitiÉs Att 2011 and re￿rt in ￿CordanCe vmth the Act 3nd relevant regulations made or havingeffectthereunder. Pag8 6 Our objettives are toobtain reasonable assUra￿e a￿ut ￿thQrthefinanoal statements as a 5¥ho￿a￿ f￿ from material misstatement, whetherdueto fraud or error, arKI to issue an audit(¢s rerx)rt that indudes ouropinion. Reasonal￿t 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. m￿StateMentScan3riSefrOm fraudorerrorand arÈconsidered materi11rf, indniidualtyorintheaggregate.theycould ￿aSOnab￿beeXpeCted to influencetheeconomic decisions of users tsken on the b3stsofthese financial statements. Irregularitie5. including fraud. are instances of nc￿-(om￿k3nce with laws and regulation5. We design w£Kedures in line wth our responsibilitie5, Outlined above. to detect material m￿taten￿ts in respect of irreguL3r1￿. induding fraLKI. The extent to which our p￿edureS are capable of detecting irregularitie5, indudingfraud ￿ detailed bdovr. Wegained an understanding ofthe legal a￿1 ￿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. wed￿igned 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 resU￿1n& from error. as fraud may irN0￿e deliberate coKealment by. for eKarnp￿, forgery or intentional m1srepr￿enta￿on$. or thr￿gh collusion. We focused on law5 and regulation5 which could gi¥e ri5eto a material m￿terr￿n1 in t￿ finanual statern￿ts. includin& but not limited to, the Charfcie5Act 2011 and UKtsx le8i5lat￿n. Our prLKeduresinduded= agreeingthe financial stateMentd￿1￿reS to undetyngyJFPJrtingdocumentatv enquiries ol trustees under5tsndinB the thariV5 intemèl controls reading the minutes of rneetingsof trustees Be￿USe of the inherent limf(ation5 of an aLklit, thefe 15 a risk that we wll not detect all I￿eSUl3ntie5, ind￿JIng those leading to a rnaterial mi55tatement in the financial 5tstements or non