Charity registration number: 266324
The Behrens Foundation
Annual Report and Financial Statements
for the Year Ended 5 April 2025
The Behrens Foundation
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
The Behrens Foundation
Reference and Administrative Details
Trustees Mr Jonna Behrens Mr Stephen Cockburn Mrs Harriet Frazer Miss Priscilla Parish Dr Hermione Cockburn Charity Registration Number 266324 Principal Office The Clerk to The Behrens Foundation c/o Fiske PLC 100 Wood Street London EC2V 7AN behrensfoundation@outlook.com Independent Examiner Crane Cox & Co 4 Canal Rise Bridgerule Holsworthy Devon EX22 7FF Solicitors Macfarlanes 10 Norwich Street London EC4A 1BD Bankers NatWest Bank Plc Business Banking
Page 1
The Behrens Foundation
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 5th April 2025.
The trustees who served during the year and up to the date of this report are set out on page 1. The Foundation welcomes two new trustees, Miss Priscilla Parish and Dr Hermione Cockburn to the Board of Trustees, both of whom were appointed on the 30th October 2024.
Structure, governance and management
Nature of governing document
The Behrens Foundation is the name for the Charitable Trust set up by the late Edward Michael Behrens in April 1973. After his death in January 1989 the residue of his estate was retained by his executors for the lifetime of his widow, Mrs Helen Constance Felicity Behrens, who died in August 2001. Following completion of the winding up of her estate and the investment of the capital sums received, the Trustees anticipate that the annual income will amount to a sum in the region of £120,000. The trustees do not actively attempt to raise further funds but seek to continue the charitable work desired by the donor through careful stewardship of its existing resources.
Objectives and activities
Public benefit
The purpose of the Trust is the promotion of the arts through the making of donations to appropriate institutions and individuals.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Grant making policies
The Trust has established its donation making policy to achieve its objects for the public benefit. The Trust's aim is to support the education of individuals and the performance of the arts by institutions.
The trustees have continued granting donations at a higher level than income, drawing on reserves brought forward.
Page 2
The Behrens Foundation
Trustees' Report (continued)
| The largest donations were as follows: | |
|---|---|
| Anthony Dale Trust | 20,000 |
| Brighton Early Music | 10,000 |
| English National Opera | 20,000 |
| English Touring Opera | 10,000 |
| Guildhall School of Music & Drama | 15,000 |
| Laurence Olivier Bursary | 10,000 |
| Lettering & Commemorative Arts Trust | 80,000 |
| London Handel Society | 10,000 |
| New Sussex Opera | 10,000 |
| Royal National Theatre Education Programme | 10,000 |
| Soho Poly Theatre | 12,500 |
| St Barts Hospital Professorship Appeal | 20,000 |
| West Dean College | 15,000 |
Page 3
The Behrens Foundation
Trustees' Report (continued)
Achievements and performance
The annual report is an opportunity to take stock of how far each project has progressed and acts as a snapshot of the journey or final outcome, rather than a full synopsis of the achievement.
Financial review
The Trust's work is entirely reliant on income from its investments and cash deposits.The value of these investments has decreased with a loss of £110,989, before investment revaluation, with income generated of £117,774.
Statement of Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr S J Cockburn Trustee
Page 4
The Behrens Foundation
Independent Examiner's Report to the trustees of The Behrens Foundation
We report to the charity trustees on our examination of the accounts of the charity for the year ended 5 April 2025 which are set out on pages 6 to 14.
Responsibilities and basis of report
As the charity’s trustees of The Behrens Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
We report in respect of our examination of the The Behrens Foundation's accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
-
accounting records were not kept in respect of The Behrens Foundation as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting 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.
We 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.
...................................... Crane Cox & Co Chartered Accountants
4 Canal Rise Bridgerule Holsworthy Devon EX22 7FF
Date:.............................
Page 5
The Behrens Foundation
Statement of Financial Activities for the Year Ended 5 April 2025
| Total | Total | |||
|---|---|---|---|---|
| Unrestricted | Unrestricted | |||
| funds | funds | |||
| 2025 | 2024 | |||
| Note | £ | £ | ||
| Income and Endowments from: | ||||
| Investment income | 2 | 117,774 | 121,277 | |
| Expenditure on: | ||||
| Charitable activities | (358,000) | (364,000) | ||
| Other expenditure | 4 | (3,214) | (3,178) | |
| Total expenditure | (361,214) | (367,178) | ||
| Gains/losses on investment assets | 132,451 | (11,129) | ||
| Net expenditure | (110,989) | (257,030) | ||
| Other recognised gains and losses | ||||
| Gains/losses on revaluation of fixed assets for charity's own | ||||
| use | (178,300) | 115,723 | ||
| Net movement in funds | (289,289) | (141,307) | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 3,213,162 | 3,354,469 | ||
| Total funds carried forward | 11 | 2,923,873 | 3,213,162 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 11.
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
The Behrens Foundation
(Registration number: 266324) Balance Sheet as at 5 April 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| Note | £ | £ | ||
| Fixed assets | ||||
| Investments | 7 | 2,622,696 | 2,787,655 | |
| Current assets | ||||
| Cash at bank and in hand | 8 | 304,067 | 428,308 | |
| Creditors: Amounts falling due within one year | 9 | (2,890) | (2,801) | |
| Net current assets | 301,177 | 425,507 | ||
| Net assets | 2,923,873 | 3,213,162 | ||
| Funds of the charity: | ||||
| Unrestricted income funds | ||||
| Unrestricted funds | 2,923,873 | 3,213,162 | ||
| Total funds | 11 | 2,923,873 | 3,213,162 |
The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mr J N Behrens Trustee
......................................... Mr S J Cockburn Trustee
The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
The Behrens Foundation
Notes to the Financial Statements for the Year Ended 5 April 2025
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Behrens Foundation meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2nd February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
All income is recognised within the statement of financial activities once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be quantified with reasonable accuracy.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Raising funds
The costs of generating funds consist of investment management and certain professional fees.
Page 8
The Behrens Foundation
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
Charitable activities
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one year or multi-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to that grant are outside of the control of the Trust.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including accountancy review, strategic management and trustees' meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable trust for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fixed asset investments
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
Page 9
The Behrens Foundation
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
Fund structure
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Page 10
The Behrens Foundation
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
2 Investment income
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds | Total | Total | ||||
| General | 2025 | 2024 | ||||
| £ | £ | £ | ||||
| Income from dividends; | ||||||
| Dividends receivable from other listed | ||||||
| investments | 98,830 | 98,830 | 99,237 | |||
| Interest receivable and similar income; | ||||||
| Interest receivable on bank deposits | 10,194 | 10,194 | 13,290 | |||
| Other income from fixed asset investments | 8,750 | 8,750 | 8,750 | |||
| 117,774 | 117,774 | 121,277 | ||||
| 3 | Expenditure on charitable activities | |||||
| Unrestricted | ||||||
| Total | Total | |||||
| General | 2025 | 2024 | ||||
| £ | £ | £ | ||||
| Grant funding of activities | 358,000 | 358,000 | 364,000 |
4 Other expenditure
| Unrestricted | |||||
|---|---|---|---|---|---|
| Total | Total | ||||
| General | 2025 | 2024 | |||
| £ | £ | £ | |||
| Examination of the financial statements | 1,890 | 1,890 | 1,800 | ||
| Secretarial fees | 500 | 500 | 1,000 | ||
| Other resources expended | 824 | 824 | 378 | ||
| 3,214 | 3,214 | 3,178 | |||
5 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Mr S J Cockburn
Travel expenses of £214 (2024: £Nil) were reimbursed to Mr S J Cockburn during the year.
Mrs Harriet Frazer
Travel expenses of £105 (2024: £Nil) were reimbursed to Mrs Harriet Frazer during the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
Page 11
The Behrens Foundation
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
6 Taxation
The charity is a registered charity and is therefore exempt from taxation.
7 Fixed asset investments
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other | investments | 2,622,696 | 2,787,655 | |
| Other investments | |||
|---|---|---|---|
| Listed | |||
| investments | Total | ||
| £ | £ | ||
| Cost or Valuation | |||
| At 6 April 2024 | 2,787,655 | 2,787,655 | |
| Revaluation | (178,300) | (178,300) | |
| Additions | 28,677 | 28,677 | |
| Disposals | (15,336) | (15,336) | |
| At 5 April 2025 | 2,622,696 | 2,622,696 | |
| Net book value | |||
| At 5 April 2025 | 2,622,696 | 2,622,696 | |
| At 5 April 2024 | 2,787,655 | 2,787,655 |
The historical cost of the listed investments at 5th April 2025 was £1,695,750 (2024 - £1,682,409 ).
8 Cash and cash equivalents
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Cash at bank | 30,664 | 34,292 | |
| Short-term deposits | 273,403 | 394,016 | |
| 304,067 | 428,308 | ||
9 Creditors: amounts falling due within one year
| 9 Creditors: amounts falling due within one year |
|||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Other creditors | - | 1 | |
| Accruals | 2,890 | 2,800 | |
| 2,890 | 2,801 | ||
Page 12
The Behrens Foundation
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
10 Commitments
Capital commitments
The total amount contracted for but not provided in the financial statements was £Nil (2024 - £Nil).
11 Funds
| 11 Funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | Other | Balance at | |||||||
| 6 April | Incoming | Resources | recognised | 5 April | |||||
| 2024 | resources | expended | gains/(losses) | 2025 | |||||
| £ | £ | £ | £ | £ | |||||
| Unrestricted funds | |||||||||
| General | |||||||||
| General fund | 3,213,162 | 117,774 | (361,214) | (45,849) | 2,923,873 | ||||
| Balance at | Other | Balance at | |||||||
| 6 April | Incoming | Resources | recognised | 5 April | |||||
| 2023 | resources | expended | gains/(losses) | 2024 | |||||
| £ | £ | £ | £ | £ | |||||
| Unrestricted funds | |||||||||
| General | |||||||||
| General fund | 3,354,469 | 121,277 | (367,178) | 104,594 | 3,213,162 |
Page 13
The Behrens Foundation
Notes to the Financial Statements for the Year Ended 5 April 2025 (continued)
12 Financial instruments
| Categorisation of financial instruments | Categorisation of financial instruments | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||||||
| £ | £ | |||||||||
| Financial assets measured at fair value through profit or loss | 2,926,763 | 3,215,963 | ||||||||
| Financial liabilities measured at fair value through | profit or loss | (2,890) | (2,801) | |||||||
| Items of income, expense, gains or losses | ||||||||||
| Income | Expense | Net gains | Net losses | |||||||
| 2025 | £ | £ | £ | £ | ||||||
| Financial assets measured at | ||||||||||
| fair value through profit or | ||||||||||
| loss | 117,774 | (361,214) | - | (45,849) | ||||||
| Income | Expense | Net gains | Net losses | |||||||
| 2024 | £ | £ | £ | £ | ||||||
| Financial assets measured at | ||||||||||
| fair value through profit or | ||||||||||
| loss | 121,277 | (367,178) | 104,594 | - |
Page 14