The Brewin Trust Trustees, Annual Report For the pernd 1st January 2024 to 31st December 2024 Legal and Administrative Information Charity Name.. Brewin Trust Charity Registration No. 273459 Charit$ principal address- St Paul's Church, Church Street, TNerton EX16 SHU The Trustees who served during the year. and up to the date of this rep)rt- Rev Andrew Humm Martyn Green Ichairrnanl Janet Norris Rebecta Britton Kevin Chapman Genevieve Procter Caroline Bright Paul Sagar from 8 July 2025 from 8 July 2025 from 8 Juty 2025 to 8° July 2025 to 8° July 2025 Strutture, Governan and Management Type of Governing D¢xument: Governing Scheme (June 19991- Amended 29 June 2015 Trustee Selertion method: As describe(l in the Governing Scheme Objective5 and Activitses: To further the religious and other charitable work of the Church of Ereland in the parish. Following the amal8amation of the Ecclesiastical Parish of St Paul with the Parish of St George Twerton under the Pastoral Scheme dated 27th June 2017 and after consultation wrth the Charity Commissioners the trustees resolved that the tharitvs area of benefrt is now defined a5 The Parish ofTfverton St Georgeand St Paul. Public Benefft: The charity acknowledges its requirement to demonstrate that it has charitable aims and purp05e5 that a for the wblic benefit. The trustee5 believe that by providing funding for community events and organisations and the pastoral work of the Church of England in the parish demonstrates that their charitable aims are for the benefit of the wblic and that the trustee5 have complied with Section 4 of the Charities Act 2011. Further, the Review of Achievements and Performance demonstrates in more detail how the trustees are complying wtth the Charity Commissioners guidance regarding public benefrt.
The Brewin Trust Achievements and Performance: The trustees recognise their primary reswnsibility to wotect and maintain the charitls assets and there is regular dialogue with the agent in res of all property matters. A house converted to multiple occupancy IHMOI provides short tern) accommodation for single persons who are supported in maintaining and managing a tenancy. Churches Housing Action Team (Devon) Ltd ICHAT) provide gUlar tenancy supwrt throuBh a suttably qijalified and experienced tenancy support worker. The cost of the tenancy SUprt is paid for by the Brewin Trust. At a time of dctIOn in available properties in the rental sector the trustees continue to work closely with their agent and CHAT to provide accommodation. where possible, for local residents and those in danger of becoming horneless. In recognttion of the energy cost Cris and a desire to improve the ene perfomiance of our properties the tnjstees have investigated improvements that could be deployed throughout the housing stock. The option5 for improvements to teaCed Grade 11 listed bjildings constructed in the mid-19' century and in a Conservation Area are very limited. The trustees a mindful that befo the 2024 general election. Labour said in its manrfesto that it would rerntroduce the policy of all rental properties having to achieve Grade C. At Latx)urfs conference in September 2024, energy security secretary Ed Miliband confim)ed that èll rental properties in England wtll need an EPC Certificate of 'C or above by 2030. The wording suggests that this time round the may be no, or fewer, grounds for exemptions. In December 2024 the government consulted on changes to the qUirements for enerbry perfomiance of buildings which suggested much more onerous EPC certtfication procedures with fewer exemptions We being considered. Ed Miliband's Department of Energy Security and Net Zero launched an offKial consultation on propos315 to mandate all private landlords in England and Wales to meet higher energy perforniance ratings within fNe years on 7 February 2025. Taken tether these consultations are deep worrying because the very nature of our buildings does not lend itself to improvements that will make a grade C EPC achievable. The charity continues to support the religious and other charitable work of the Church of England in the parish by providing financial support towards- Parish Administration and Ministry supwrt Take Note Community Choir Homelessness prevention and debt cnSellIng Tenancy support for the residents of the HMO Financial Review The accounts under review are for the twelve months to 31st December 2024. Rental income of £212,4(KJ is 20.8% higher than 2023 because of the full year effect of rent increases in September 2023 and the reduced voids of some larger propertie5. BlackRotk investment income was £281 less than 2023 but bank interest was £5,369 higher than the previous year beca4Jse of the maturity of a 2-year fixed rate Ix)nd and improved interest rates. Managing agenys fees increase by 32% to £19.423 as a direLt res of the increase in rental income.
The Brewin Trust Property repairs and maintenance of £30,962 was lower than 20231£52.3481 with no major repairs or property refurbishment required during the year. Utilities and Council tax were £6,811 Routine maintenance. electrical and gas safety checks of dwellings are Caled out in consultation with the agent. The annual cost of buildings insurance InCased by 5% to £13,362. Grants of £81,24412023 £74.5441. were awarded by the trustees for charitable purFK)ses and have fotussed Main on the regular cost of Parish admirbistration. youth work. children and famil5 ministry. HMO tenancy suppjrt and grants to community organisations. The net income forthe year was £72,23612023-£21,0361 as a result of improved levels of rental income and lower PrOrtY maintenarbce costs than 2023. The tnjstees have agreed to arrange for the installation of positive input ventilation IPIVI units in all ground floor flats, during 2025. at a total cost of approximately £40,CKM). The PIV units shoukl improve airflow in the flats. thereby reducing condensation and mould. Following a review of the level of current reserves the trustees consider that the anticipated future expenditure on charrtable objectives is forecast to be= Parish Mission £31k to support parish youth work £30k to support parish chihlren and families work and admintratIon £Ik towards the refufbhffiet arKI development of parish church buildings Commun ort £22k towards community grouF6 and hornelessne5s prevention £8k tenancv support Reser¥es Polity: The trustees continue to review our Reserves Policy to ensure a balance between reasonable levels of reserves in accordance with the guidelines laMI down by the Charity CommissKJners an(1 sensible use of the funds we have been provided with. The tru5tee5 have set a reserve of £50.LK)O and review the overall level of reserves regularly. Investhients-the trustees regularly review the retum on their investments. The trustees have invested as follows.. £25,IXKI.LKI Green Pastures CBS Ltd 5 Year Loan Stock12.LxfAI The Green Pastures investment reflects the trustees desire to SUPF¥)rt homelessness prevention. The BlackRock BLK Charities UK Bond Fund Accumulating investment that has been held for manv vears produced dividends of £3,858. The value of the fund was affected negatNely by uncertainty in the financial markets during 2022 but gained £1.631 this year to finish at £96.662.
The Brewin Trust Tfusteeg RespoDsibilities: Under the Charities >£t 1993. the trustees are quired to prepare a statement of accounts for each financial year which gives a true and fairview of the state of affairs of the charity at the end of the financial year and of the incoming SOurCeS and application of resources in the year. In preparing the statement, the tmstees are required to.. Select suitable accounting wJlicie5 and apply them consistently- Make judgements and estimate5 that are reasonable and prudent. State whether applicable accounting standards and statements of recommended practi have been followed, subject to any material departures disclosed and explained in the statement of accounts. Prepare the financial st*ements on the going concern basis unless it is inappropriate to presume that the charity will continue Fts operations. The trustees are responsib for keeping proper accounting record5 which disclose wlth reasonable accuracy at any time the financial poSitn of the charity at that time and to enable the tNstees to ensure that any statement of account Ppad by them complies with the regulations under section 42111 of the Charities Att 1993. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. Approved by the Trustees on 2025 Martyn Green Trustee
Independent Examinerfs Report to the trustees of The Brewin Trust I report on the accounts ofThe Brewin Trust for the year ended 31st December 2024, which are set out on pages 6 to 10. RespertNe responsibilities of the Trustees and Examiner As the charity'5 trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Att 2011 {"the Acff l. I report in respett of my examination of the TrusY5 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 sertion 145{5llb) of the Act. Basis of Independent Examinerfs Report 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 Charities Act: or the accounts did not accord with the accounting records- or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts 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 connettion 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. JHI Tiverton Devon EX16 5P8 7 August 2025
The Brewln Tntst Statement of Financial Activities Year ended 31 December 2024 Year ended 3111212024 2023 Unrestrictsd Designated EndOWnt funds funds Total Total Income and endowments Income from genernted fund5 Investment income Rent from Trust properties Dividends from investmef Bank interest receivable 212,400 212,4C 4,077 13.355 175.826 4,358 3,$77 13.355 Totsl Incom• 226.255 229.832 188,170 Expenditure Costs of generatlng funds Costs of generating rental income Agenfs fees Repairs and mantenance Utilities and Council Tax Insurance 19.423 19.423 30.%2 6,811 13,362 14,693 52,348 9,455 12,732 6,811 13.362 70,558 70,558 89,228 Charltable actlvltles Grants awarded 81,244 81.244 74,544 Su rt costs Clerk's honorarium Postage Trustees. liabilty insuran Survey fees Legal fees Bank chwges 1.500 13 293 293 2.362 819 55 55 83,092 83,092 79,532 Total expendltttrre 153,650 153.650 168.760 Net income lexpgndlturel before Investment gains (losses) 72,605 3.577 76,182 19,410 Net gain$ Ilo$sesl on Investments 13.946) (3.9461 1,626 Net movemgnt In funds 72,605 1369) 72,236 21,036 Total funds brought forward 387.579 .662 4.070.( 4,554.241 4,533,205 Total fund$ ¢arrled forId 460.184 .293 4.070.000 4,626,477 4,554,241
The Brewin Trust Balance Sheet 31 December 2024 2024 2023 Notes Fixed assets Investment assets 4.191,293 4.191.662 4.191,293 4,191,662 Current assets DebtOTS Cash at bank 4,285 438,664 12,777 353,207 442.949 365,984 Creditors: amounts falling due within one year 7,765 3,405 Net current assets 435,184 362,579 4,626,477 4,554.241 Reserves Endowment fund 4,070.000 4,070.000 Unrestrlcted funds 556.477 484.241 4.626,477 4,554.241 Sned and approved on behalf of ts Trustees 7 AwJust 2025 Green (Chair RebErend AHthew Humm ITrustee)
The Brewin Tnt Notes to the financial statements Year ended 31 December 2024 1. A¢countlng policlgs Basis of preparation The financial stslements have been Fwared WKler the historical cosl convention, as modffied by the inclusion of tangib fixed assets aThJ inveslments al market value. The financial statements have iwi prepared in accordan wth Accounting and Reportirwj by Charities.. Statement of Recommen<kd Practice appliCae to ¢h8rities PTeparing their accounts in accordance wrth the Finanaal RepNkn"ng Stsndard in the UK and Republic of Ireland IFRS 1021 (effective l January 20151. the Finanual Repth"ng Standard aPIcable in UK and Republic of Ireland IFRS 1021 aThJ th the Charities Act 2011. The charty consltbjtes a pubk benèfft enbty under FRS 102. Income Income is included in Ihe Stslement of Finanual Ac*viknes vthen Ihe becomes entitled to the income. Investment income is induded in the accounts wthen recwvat4e. Expendltufe Expenditure is a¢crAJnted ts on an accruals basis. Grants are recognised when a specthc commitment lo grant funding is given and this has been communicated lo the grant wipient. Assets and Ilabllltle5 Assets and liabilsb'es are ijUded n the balance sheet at the follolj amounts.. Land and buildings At market value Investments At market value Other current assets At the lower of cost and net realISab value LialJ"lrties At their setdement value Realised and unreallsed galns and losses on fixed assets and investments Gains and losses on investment assets indudes any gain or loss on the sale of Investments and any gain or loss reSun9 from revaluing investsner)ts to marf(et value al the end of the year. A r8alised or unrealised gain or loss arising on an a55el will form part of the fund in the asset invofved is hehj. 2. Grants awarded Grnnts to Instltutlons Take Note Choir Churches Htsjsing Actvjn Team HMO Tenancy Support 2.400 20,000 8,000 PCC of Tiverton Sl George a1 St Paul". Parish administralKJn and ministry St Paul's Church rOls 50,844 81.244
The Brewin Trust Notes to the financial statements Year ended 31 December 2023 3. Imiestment assets in the UK Investment properties comprise Twsl prope"e5 srtuated in St Paul Street and ChUh Street Westexe, Tiverton. These propertyes f¢)mi the erthwment of the charity pro¥ided ullder the Will of Caroline BreNvin in 1877. The investment properties valued at £4.070,IXIO by Whilion & Laing, Chartered Survewrs. in June 2022. The trust holds investsnents in BLK Charit*s UK BorKI Fund arKI Green Pastures CBS Ltd These investments a shown at market value * the balance date. Flxed asset investments Market value at teginning of year Add. additions lo investments at cost Less." disposals at Carrng value Add gain on valuth.on {investment prOPertS) Less loss on vakjation {UK Bond Fund) Market value at end of year 4.191.662 3.577 {3.946} 4,191,293 Analysis of investsTnts Market value at 31-Dec-24 Income during period Investmenl properties BLK Chanties UK Bond Fund Green Pastures CBS Ltd loan stock 4.070,IXIO 96.293 25.000 212,4(Kl 3,577 4.191.293 216,477 4. Debtors 31-1)oc-24 31IJK-23 Prepayinents (Xher debtors 3.831 454 3.610 9,167 4,285 12.777 6. Credilors Trade creditors Deferred grant income Other ereditors 5,194 380 2,191 7,765 667 380 2,358 3,405
The Brewin Trust Notes to the financial statements Year ended 31 December 2024 6. Movements in funds Galn#l Tronsfer¥ At31 (lo¢$) on belween Decembèr In¢on Inv•stm•nts fvryl¥ 2024 January 2024 Endowment fund 4,070,000 4,070.000 Unrestrfcted Income funds Emergency repair fund General fund 96,662 3.577 387,579 226.255 {3.946) 96.293 460.184 1153.650) 4.554,241 229,832 153,650 3,946 4,626.477 Endowment fund Thi5 fund represents the value of the freehokj property that was thnated to Ihe Twst under the Will of the Trust's founder. Mrs caroli Brwn.The rental income from the prcyèths less the costs of administration arKJ management are unrestricted income funds. Emergency repalr fund This designated ftjnd is set up lo wovvje for the extraordinary repair, improvement or rebuilding of Trust propety. 7. Anatysls of net a$$ets boiween funds Total Endowment fund 4,070.000 4,070,000 Unrestrieted income funds Emergenw repair lurKI General fund 96,293 25.000 96,293 460.184 435.184 4,191,293 435.184 4,626.477 B. Staff costs The Trust engages a clerk is paid an )n(a1M of £1.5 {2023 £1.$001 9. Transactlons wlth Trustees No tnjstee has received any payinenls of feMUrrat10n or expenses or received any benefits from the charity during the Far. 10