Charity Registration No. 261397
MRS E.E. BROWN CHARrrABLE SEThLEMENT
TRUSTEES. REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023

MRS E.E. BROWN CHARITABLE SEThLEMENT
LEGAL AND ADMINIsfRAnVE INFORMATION
Trustees
M D Brown
D B Brown
N B Brown
Charlty number
261397
Prlnclpal address
2 Rutland Park
Sheffiel
SIO 2PD
Accountants
BHP LLP
2 Rutland Park
Sheffiel
510 2PD
Bankers
National Westminster Bank plc
21 The Square
Retford
Notts
DN22 6DL
Solicitors
Wake Smith LLP
Nol Velocity
2 Tenter Street
Sheffield
SI 4BY
Investment advisors
RBC Brewin Dolphin
12 Smithfield Street
London
ECIA 9BD
Independent examiner
Rachel Heath FCCA DChA
BHP LLP
2 Rutland Park
Sheffield
510 2PD

MRS E.E. BROWN CHARITABLE SETfLEMENT
CONTENTS
Page
TnJstee5' report
Independent examinerfs report
Statement of financial artivitie5
Balance sheet
Notes to the accounts
7-13

MRS E.E. BROWN CHARITABLE SETfLEMENT
TRUSTEES, REPORT
FOR THE YEAR ENDED 5 APRIL 2023
The Truste￿ present their report and accounts for the year ended 5 April 2023.
The accounts have been prepared in accordance with the accounting policie5 set out in note I to the accounts
and comply with the Trust Fund's Deed, the Charities Act 2011 and Accounting and Reporting by Charities:
Statement of Recommended Practi￿ applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (Second edrtion - October 2019).
StructureA governan￿ and management
The Trust Fund arises from gifts made by Mrs Edna Elizabeth Brown by a deed of settlement dated 5 May 1970.
Mrs Brown, who died in 2000, was either the mother or grandmother of the Trustees.
The Truste￿ who seNed during the year were..
M D Brown
D B Brown
N B Brown
Trustees are appointed in writing by the existing Trustees.
The Truste￿ regularly review the recipients and level of grants.
All Trustees give their time freely and no remuneration was palé in the year. No expenses were paid to the
Trustees during the year.
The principal risk5 to which the charity is exposed are the security and the performance of the investments
and cash and the Trustees are satisfied thot they hove arrangements in place to mitigate those risks.
Objectives and activities
The Trust Fund is to be applied by the Trustees to benefit such charitable institutions or objetts or purposes as
the Trustees may at their total discretion from time to time decide.
Within these obligations, it has been the Trustees, policy for a number of years to give ￿gUlar Support to a
number of charitable organisations. These are mosuy paid out by annual standing orders. The Trustees make
other grants from time to time (but will not be considering direct appeals for assistsnce until further notice).
It is not the Trustees, Folicy to make grants to individuals or in respect of medical research.
Public benefit
The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public
benefit guidance published by the Charity Commigsion. Details of the activities carried out to deliver a public
benefit are set out in the Achievements and performance sertion below.
Achievements and performance
During the year grants were paid to 44 organisations totalling £19,700 {2022.. £20,700). Details of the ongoing
supwrt provided arsd the grants made are set out in the notes to the accounts.

MRS E.E. BROWN CHARITABLE SETfLEMENT
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Financial review
The attached accounts show the current State of the charity's finances.
Total income for the year was £35,003 (2022.. £34,141).
Total expenditure for the year was £33,755 12022.. £32,826). Investment management costs were £9,598
(2022.. £7,859). Grants to institutions were £19,700 (2022: £20,700}. Support costs were £4,457 (2022..
£4,267).
Net expenditure for the year was £61,487 (2022.. income of £98,751} after taking into account the loss on
investment assets of £62,735 {2022.' gain of £97,436). There was a surplus on the unrestricted fund of
£13,874 {2022.' surplus of £25,457} and a deficit on the endowment fund of £75,361 (2022: surplus of
£73,294).
Totsl funds carried forward at 5 April 2023 are £1,055,035 (2022.. £1,116,522) of which endowment funds a
£836,867 {2022'. £912,228) and unrestritted funds are £218,168 {2022.' 204,294).
The Truste￿ consider the overall finances of the Charity to be sound.
Reserves policv
At 5 April 2023 the charity had unrestrirted reseNes amounting to £218,168. The Twstees consider it to be
prudent to hold income reserves of this order partly so that the level of grants in the immediate future can be
sustsined in the event of any unforeseen fall in incoming resources and partly to enable the TnJstee5 to make
one or more particularly substantial grants without prejudicing the normal pattern of grant making.
The Truste& have unrestricted investment powers.
Going concern
There are no material Un￿rtaIntieS in relation to going COn￿rn. Further details about the adoption of the
going concern basis are given in note 1.10 to the accounts.
Investment policy
The expendable endowment fund assets are held predominately in quoted securities covering a diversified
range of assets including Fixed Interest, UK and Overseas Equities, Commercial Property and Aternative
Investh)ents.
The investment objective is to maximise the funds of the charity through a mixture of the above assets,
achieving a level of income commensurate to the asset mix and capitsl growth ahead of inflation over time.
This objective should be achieved undertaking only a moderate level of risk. Currently amund three quarters of
the unrestricted income fund is held in quoted securities.
The unrestrirted income fund is held in quoted seajrities and cash on deposit at the best interest rates
available.
The Trustees, investments are managed by the investment advisors on a discretionary basis.
Asset cover for funds
Note 12 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet
the charity's obligations on a fund by fund basis.

MRS E.E. BROWN CHARITABLE SETfLEMENT
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Approved by the Trustees and signed on their behalf by:
N B Brown
Trustee
Dated: 2 February 2024

## **MRS E.E. BROWN CHARITABLE SETTLEMENT** 

## **INDEPENDENT EXAMINER'S REPORT** 

## **TO THE TRUSTEES OF MRS E.E. BROWN CHARITABLE SETTLEMENT** 

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2023, which are set out on pages 5 to 13. 

## **Responsibilities and basis of report** 

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the charity's accounts carried out under section 145 of the 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 giving me cause to believe that in any material respect: 


1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination. 

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. 




Rachel Heath FCCA DChA 

BHP LLP 2 Rutland Park Sheffield 510 2PD 

2 February 2024 Dated: ........................ . 

**- 4 -** 



MRS E.E. BROWN CHARITABLE SETfLEMENT
srATEMENT OF FINANCIAL AcrIvrrIES
FOR THE YEAR ENDED 5 APRIL 2023
Unrestricted Endowment
funds
funds
Total
2023
Totsl
2022
Notes
Investments and deposit interest
35,003
35,003
34,141
Raising funds
Investment management costs
9,598
9,598
7,859
Charitable activities
Organisations - less than £1,000
Organisations - £1,000 or more
Support costs
11,700
8,000
4,457
11,700
8,000
4,457
11,700
9,000
4,267
Totsl expenditure
24,157
9,598
33,755
32,826
Net gain5 on investments
3.028 {65.763) (62,735)
97,436
Net income- net movement in funds
13,874
{75,361) (61,487)
98,751
Reconciliation of funds
Totsl funds brought forward at 6 April 2022
204,294
912,228 1,116,522 1,017,771
Totsl funds carried forward at 5 April
2023
218,168
836,867 1,055,035 1,116,522
All income and expenditure amounts relate to continuing activities.

MRS E.E. BROWN CHARITABLE SETfLEMENT
BALANCE SHEET
ASA T 5 APRIL 2023
2023
2022
Notes
Fixed assets
Investments
io
977,687
1,050,106
Current assets
Cash at bank and in hand
81,284
69,920
81,284
69,920
Creditors: amounts falllng due
within one year
li
(3,936)
(3,504)
Net current assets
77,348
66,416
Net assets
12
1,055,035
1,116,522
Charity funds
Capltal funds
Endowment funds
836,867
912,228
Income funds
Unrestricted income funds
218,168
204,294
1,055,035
1,116,522
The accounts were approved by the Trustees on 2 February 2024
N B Brown
Trustee
The noles on pages 7 10 13 lorm parl of these Ilnancial slalemenls.

MRS E.E. BROWN CHARITABLE SETfLEMENT
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with
the Financial ReFX)rting Standard applicable in the UK and Republic of Ireland issued in October 2019, the
Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland (FRS 102), the
Charities Act 2011 and UK Generally Accepted Practice.
The financial statements have been prepared to give a 'true and fair, view and have departed from the
Charities (Accounts and RetK)rts) Regulations 2008 only to the extent required to provide a true and fair
view,. This departure has involved following the Accounting and Reporting by charit1￿- Ststement of
Recommended Practice applicable to charitie5 preparing their accounts with the Financial ReFK)rting
Standard applicaple in the UK and Republic of Ireland (FRS 1021 issued in October 2019 rather than the
Accounting and Reporting by Charities.. Ststement of Recommended Prartice effertive from l April 2005
which has since been withdrawn.
The E E Brown Charitable Settlement meets the definition of a public benefit entity under FRS102. Assets
and liabilities are initially recognised at historical cost or transattion value unl￿S otherwise stated in the
relevant accounting policy.
The financial statements are prepared in sterfing, which is the functional currency of the charity and
rounded to the nearest £.
1.2 Income
Dividends and interest are taken into account in the year in which they are received.
1.3 Expenditure
Expenditure is included on an accruals basis inclusive of any irrecoverable VAT.
Grants payable are charged in the year when the offer is conveyed to the recipient ex￿pt in those cases
where the offer is conditional, such grants being recognised a5 expenditure when the conditions
attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are
noted as a commitrnent, but not accrued as expenditure.
All governance and secretarial costs are aknn to support costs under SORP 2019. All costs other than
investment fees are therefore shown as support Costs under charitable expenditure.
1.4 Investments
Investments are included at their market value on 5 April and the unrealised net gain5 or1055es arising
from the revaluation are recognised in the Statements of Financial Activities.

MRS E.E. BROWN CHARITABLE SETfLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
1.5 Fund accounting
Expendable Endowment Fund
Thi5 fund represents the value of the original gift to the charity in 1970, together with the net investment
gains, realised and unrealised since that time. The Trustees are required to apply the income of the fund
to such charitable objects and institutions as they at their absolute discretion decide. They are also
empowered to apply the capitsl in the same way. However the Trustees consider that for the 80 year
period of the trust the capitsl should be regarded as reasonably pem)anent and as such is shown in the
financial ststements as an expendable endowment fund.
Unrestrirted Income Fund
These are the ￿serveS which the Trustees are free to use in accordan￿ with the tharity's objertives.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount repaid net of any trade discounts due.
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of
thr￿ months or les5 from the date of the acquisition or opening of the deposit or similar account.
1.8 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at
their settlement amount after allowing for any trade discounts due.
1.9 Financial instruments
The charty only has financial assets and financial liabilities of a knnd that qualify as basic financial
instsuments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their setdement value with the exception of bank loans which are subsequently measured at
amortised cost Using the effecbve interest method.
1.10 Going Concern
The financial statements have been prepared on a going concern basis as the trust￿ believe that
nomaterial Un￿rtaIntieS exist. The trustees have considered the level of funds held and the expetted
level of income and expenditure for the 12 months from authorising th￿e financial ststements.
The charity has sufficient r￿erv￿ to enable it to continue for the forseeable future. Therefore, the
trust￿ believe it is appropriate for the financial statements to be prepa￿d on the going concern basis.

MRS E.E. BROWN CHARITABLE SETfLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Prior year's statement of financial activities
Unrestricted Endowment
funds
funds
Total
2022
In
ndowments fr
Investments
34,141
34,141
Raising funds
Investment management costs
7,859
7,859
Charitable artivities
Organisations - less than £1,000
Organisations - more than £1,000
Support Costs
11,700
9,000
4,267
11,700
9,000
4,267
Totsl expenditure
24,967
7,859
32,826
Net gains on investments
16,283
81,153
97,436
Net income - Net movement in funds
25,457
73,294
98,751
Reconciliation of Funds
Total funds bmught fonvard at 6 April 2021
178,837
838,934 1,017,771
Total funds carried forward at 5 April
2022
204,294
912,228 1,116,522
Income from investments
2023
2022
Income from listed investments
Interest receivable
34,539
464
34,134
35,003
34,141

MRS E.E. BROWN CHARITABLE SETfLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Total expenditure
Other
costs
Grant
funding
Total
2023
Total
2022
Raising funds
Investment management costs
9,598
9,598
7,859
Charitable activities
Organisations - less than £1,000
Organisations - £1,000 or more
Support costs (note 6)
11.700
8,000
11,700
8,000
4,457
11.700
9,000
4,267
4,457
14,055
19,700
33,755
32,826
S Grants payable
2023
2022
Organisations - less than £1,000
Organisations - £1,000 or more
11,700
8,000
11,700
9,000
19,700
20,700
10

MRS E.E. BROWN CHARITABLE SETfLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
5 Grants payable, continued
2023
2022
Grants to institutions relating to organisations - £1,000 or more comprise..
Magen David Adom
Nightingale House
The Royal Star & Garter Homes
St. John's Opthalmic Hospital
Wirtim Support
SCOPE
Jewish Care
UCL
2,000
1.000
1,000
1.000
1,000
1,000
1,000
2,000
I,ooo
1,000
1,000
1,000
1,000
1,000
1,000
8,000
9,000
Support costs
2023
2022
Accountancy charges
Independent examination fees
Bank charges
3,636
804
17
3,516
732
19
4,457
4,267
Trustees
The Trustees (or any persons connected with them) neither received or waived any remuneration during
the year (2022.. £nil).
The Trustees (or any persons connected with them) did not have any expenses reimbursed during the
year (2022: £nil).
Employees
There were no employees during either year.

MRS E.E. BROWN CHARITABLE SETfLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
Taxation
The charity is considered to pass the tests set out in Schedule 6, paragraph l of the Finance Art 2010
and therefore meets the definition of a charty for UK income tax purposes. Accordingly, the charity is
potentially exempt from taxation in respert of income or capital gains received with in categories covered
by the Income Tax Art 2007, Part 10 S521 S537 or S256 of the Taxation of Chargeable Gains Act 1992,
to the extent that such income or gains are applied exclusively to charitable purposes.
10 Flxed asset Investments
Unrestricted Endowment
Funds
Funds
Total
2023
Total
2022
Market value at 6 April 2022
Disposals proceeds
Acquisltions at cost
Change in value in the year
139,005
899,160 1,038,165
(17,411) (180,418) (197,829)
24,703
142,454
167,157
3,028
(65,763)
(62,735)
940,974
(100,997)
100,752
97,436
Market value at 5 April 2023
149,325
795033
944,758
1,038,165
Investment cash
32,929
32,929
11,941
At 5 April 2023
149,325
828,362
977,687
1,050,106
Historical cost..
At 5 April 2023
102,727
524,943
627,670
At 5 April 2022
96,830
503,536
600,366
11 Credltors: amounts falling due wlthln one year
2023
2022
Independent examination charges
Accountancy d)arges
804
3,132
732
2,772
3,936
3,504
12

MRS E.E. BROWN CHARITABLE SETfLEMENT
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
12 Analysis of net assets between funds
Unrestricted Endowment
funds
nds
Total
Fund balances at 5 April 2023 are represented by:
Investments
CLJrrent asset5
Creditors.. amounts falling due within one year
149,325
72,779
(3,936)
828,362
8,505
977,687
81,284
(3,936)
218,168
836,867
1,055,035
Fund balances at 6 April 2022 were represented by:
Investments
Current assets
Creditors.. amounts falling due within one year
139,005
68,793
(3,504)
911,101
1,127
1,050,106
69,920
(3,5041
204,294
912,228
1,116,522
Unrealised gains included above in the 2023
balances:
On investments
46,598
270,490
317,088
46,598
270,490
317,088
Reconciliation of movements in unrealised gains
Unrealised gains at 6 April 2022
In respect of diswsals in year
42,175
395,624
{53,238}
437,799
(53,238)
42,175
4,423
342,386
{71,896}
384,561
(67,473)
Net gains on revaluations in year
Unrealised gains at 5 April 2023
46,598
270,490
317,088
13 Related parties
There are no related party transactions in either year.
13