2021-04-05-accounts

Charity Registration No. 281986

CALYPSO BROWNING TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021

CALYPSO BROWNING TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr J H C Saxton
	Ms V Browning
Charity number	281986
Principal address	2-6 Tenter Ground
	Spitalfields
	London
	E1 7NH
Independent examiner	Dale Mitchell FCCA
	Azets
	9 Thorney Leys Park
	Witney
	Oxfordshire
	OX28 4GE
Bankers	Barclays Bank UK PLC
	1 Churchill Place
	London
	E14 5HP
Investment advisors	Brewin Dolphin
	1 Cavendish Road
	Leicester
	LE2 7PG
	United Kingdom

CALYPSO BROWNING TRUST

CONTENTS

	Page
Trustees' report	1 - 2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	5
Notes to the financial statements	6 - 12

CALYPSO BROWNING TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

The trustees present their report and financial statements for the year ended 5 April 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Deed of Arrangement dated 26 November 1979 which was amended on 16 June 2020, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The Trust is a charitable Trust established by the Will of the late Mrs Calypso Browning who died on 15 October 1978, as varied by a Deed of Arrangement dated 26 November 1979 which was amended 16 June 2020 . Trustees are required to distribute the income among charitable societies for the housing of persons in need and for animal welfare. The Trust distributes all income to those societies accordingly.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Trustees undertake no activities to which the Charity Commission's guidance on public benefit applies.

Achievements and performance

Our main activity is providing grants to animal welfare and homelessness charities. We have a number of charities that we are committed to give to because of our founding instrument – the will of Calypso Browning. We continue to give to these charities and also others that have a particularly strong case for our support. We prefer smaller charities and those who are tackl ing very tangible issues. Vicky Browning leads on homelessness grants and Joe Saxton leads on animal welfare. Distributions made in the year are detailed on page 8 .

The value of investments held by the Trust has increased in the year from £879,304 to £942,912.

Trust income and expenditure is as detailed in the statement of financial activities as detailed on page 4.

Financial review

The total unrestricted funds in hand at the end of the year were £65,352 which is an increase of £33,955 this year. The total endowment funds at the end of the year were £950,223 which is an increase of £48,161 this year.

The Trust distributes all its income to the charitable societies. Undistributed income at the year end is not a reserve, but only the result of fluctuating income and timing of distributions. During this year, and in the period since then, there have been no significant changes in income of the trust or in the pattern of distribution.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The investments are managed by Brewin Dolphin Ltd with an investment objective guideline for Income and Growth Return and the risk classification is classed as 'Diversified Risk'.

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CALYPSO BROWNING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021 Structure* governance and management The trustees who served during the year and up lo the dale of signature of the financial ststements were.. Mr J H C Saxton Ms V Browning There are two trustees as detailed above. At prèsent this number satisfies the need of the Trust, however when we need to recruit new Iruslees we will use networks and proactive recruitment approeches to find new trustees. e trust ' report was approved by the Board of Tnjslees. Mr J H C Saxton Trustee Dated.. I:-J .

CALYPSO BROWNING TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CALYPSO BROWNING TRUST I report lo the trustees on my examination of Ihe financlal 8tslements of Calypso Browning Tru8t (the charrtyl for the year ended S April 2021. Responsibilities and basis of rgport As the frustees of the charity you are responsible for the preparation of the finandal stslements in accoTdance with th* requirements of the char￿e$ Act 2011 (the 2011 Actl. I report in respe￿ of my examination ol the charty's financial statements carned out under seclion 145 of the 2017 Act. In ￿rryIng out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Indop•ndent oxaminerfs ststsmgnl Your attention is drawn to the fad that the charity has prepared financial slalements in accordawe wrfh A¢¢ounting and Reporting by Charities preparing their accounts in a¢¢ofdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preferen¢& lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulallons bul has now been withdrawn. l understand that thi8 ha5 been done in order for financial statements lo provide a true and fair vi8w in accordance with Generally Accepted Accounting Practice effective for reporting periods Winning on or after 1 January 2015. I have ￿mpleted my examination. l Confimi Ihal no matters have come to my attention in Connection with the examination giving me cause to believe that in any material respect.. accA)unting records We￿ not kept in respect of the tharoty as required by seclion 130 of the 2011 Act. or the financial ststements do not accord wth those records,. or Ihe financial stslemenls do not comply wth the applicable requirements con¢erning the forn and content of accounts sel OLrt in the Charities {Accounl$ and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which 15 not a matter con$id&re¢J as part of an independent examination. I have no ¢on¢ems and have come across no other maiters in connection with the examination to atten￿on should be drawn in this r¢port in order to enable a proper und&rstanding of the financAal $tstements to be reached. Dale Mrtchell FCCA 9 Thomey Leys Park tney Oxfordshire OX28 4GE Dated.. 01

CALYPSO BROWNING TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021

Unrestricted Endowment funds funds 2021 2021 Notes £ £ Income from: Investments 2 32,020 - Expenditure on: Raising funds 3 - 6,828 Charitable activities 4 158,065 - Total resources expended 158,065 6,828 Net gains/(losses) on investments 8 - 214,989 Net (outgoing)/ incoming resources before transfers (126,045) 208,161 Gross transfers between funds 160,000 (160,000) Net movement in funds 33,955 48,161 Fund balances at 6 April 2020 31,397 902,062 Fund balances at 5 April 2021 65,352 950,223	TotalUnrestricted Endowment funds funds 2021 2020 2020 £ £ £ 32,020 40,769 - 6,828 - 9,164 158,065 48,758 - 164,893 48,758 9,164 214,989 - (194,456) 82,116 (7,989) (203,620) - - - 82,116 (7,989) (203,620) 933,459 39,386 1,105,682 1,015,575 31,397 902,062	Total 2020 £ 40,769 9,164 48,758 57,922 (194,456) (211,609) - (211,609) 1,145,068 933,459

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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CALYPSO BROWNING TRUST BALANCE SHEET AS AT 5APRIL 2021 2021 2020 Not9$ Fixed assets Investments Current assets Debtors Cash al bank and in hand 942,912 879,304 10 257 73,983 257 58,235 74,240 58,492 Credltors: arnounts falllng due wlthln one year 11 11,5771 14,3371 Net current a$sels 72,663 54,155 Totsl assèts less current Ilabllltles 1.015.575 933,459 Capltal funds Endowment funds- general Income funds Unrestricted funds 12 950.223 902,062 13 65,352 31.397 1,015,575 933,459 Th financial rnents were approved by the Trustees on ... Mr J H C Saxton Trusteg

CALYPSO BROWNING TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

1 Accounting policies

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Deed of Arranagement, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)”. The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.3 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.4 Resources expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

1.5 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

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CALYPSO BROWNING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021

2 Investment income Income from listed investments 3 Raising funds Investment management 4 Charitable activities Independent examiner fees Bank charges Subscriptions Grant funding of activities (see note 5)	2021 £ 32,020 2021 £ 6,828 6,828 2021 £ (1,080) 45 100 (935) 159,000 158,065	2020 £ 40,769 2020 £ 9,164 9,164 2020 £ 2,039 44 - 2,083 46,675 48,758

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CALYPSO BROWNING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021

5 Grants payable

Grants to institutions: Shelter Dogs Friends Refugee Action Homeless Link PDSA Standing Together Compassion in World Farming Dogs' Trust Muslim Women's Network RSPCA British Horse Society The Brooke Southern Thailand Elephant Project The Magpie Project Education Tanzan Kingfisher Café Crossroads Derbyshire Ferne Animal Sanctuary Horse Sense Wirral Spear London The 999 Club + Lad The Choir with No Name Secret World Wildlife Rushton Dog Rescue This is Growth RSPB Wales Housing for Women Whitechapel Mission Crisis UK West Yorkshire Dog Rescue Emmaus UK UK German Shepherd Rescue Teckels Animal San Prickles and Paws Hedgehog Rescue Underdog International Winter Comfort Angels for Animals

2021 £ 5,000 2,500 5,000 5,000 5,000 5,000 4,000 5,000 5,000 5,000 5,000 5,000 1,500 5,000 6,000 1,000 10,000 2,500 2,500 5,000 5,000 5,000 2,500 2,500 5,000 2,500 5,000 10,000 5,000 4,000 5,000 2,500 2,500 2,500 2,500 5,000 2,500 154,000

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CALYPSO BROWNING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

7 Employees

The average monthly number of employees during the year was:

Total 8 Net gains/(losses) on investments Revaluation of investments Gain/(loss) on sale of investments	2021 2020 Number Number - - 2021 2020 £ £ 244,266 (188,736) (29,277) (5,720) 214,989 (194,456)

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CALYPSO BROWNING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021

9 Fixed asset investments

Fixed asset investments
	Listed
	investments
	£
Cost or valuation
At 6 April 2020	879,304
Additions	125,779
Valuation changes	214,990
Disposals	(277,161)
At 5 April 2021	942,912
Carrying amount
At 5 April 2021	942,912
At 5 April 2020	879,304

Fixed asset investments revalued

All investments are carried at their fair value. The investments are managed by Brewin Dolphin who provide a valuation report at 5 April 2021. The valuations have been prepared, generally, on the basis of the middle market price at the close of business on the valuation date, and as supplied by external information providers.

10 Debtors

10	Debtors
		2021	2020
	Amounts falling due within one year:	£	£
	Other debtors	257	257
11	Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
	2021	2020
	£	£
Other creditors	257	257
Accruals	1,320	4,080
	1,577	4,337

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CALYPSO BROWNING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021

12 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

			Movement in funds	Movement in funds
	Balance at 6	Incoming	Resources	Transfers	Revaluations	Balance at 5
	April 2020	resources	expended		gains and	April 2021
					losses
	£	£	£	£	£	£
Permanent endowments
Investment portfolio	902,062	-	(36,105)	(160,000)	244,266	950,223
	902,062	-	(36,105)	(160,000)	244,266	950,223
			Movement in funds
	Balance at 6	Incoming	Resources	Transfers	Revaluations	Balance at 5
	April 2019	resources	expended		gains and	April 2020
					losses
	£	£	£	£	£	£
Permanent
endowments
Investment portfolio	1,105,682	-	(9,164)		(194,456)	902,062
	1,105,682	-	(9,164)	-	(194,456)	902,062

Transfer between funds

In July 2020 the Trust transferred £100,000 from the endowment fund to the unrestricted funds. In December 2020 the Trust transferred £60,000 from the endowment fund to the unrestricted funds. The net effect of these transfers was £160,000 for the year.

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CALYPSO BROWNING TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021

13 Unrestricted funds

These are unrestricted funds which are material to the charity's activities made up as follows:

				Movement in funds	Movement in funds	Movement in funds
			Balance at	Incoming	Resources	Transfers	Balance at
			6 April 2020	resources	expended		5 April 2021
			£	£	£	£	£
	Unrestricted funds		31,397	32,020	(158,065)	160,000	65,352
			31,397	32,020	(158,065)	160,000	65,352
				Movement in funds
			Balance at	Incoming	Resources	Transfers	Balance at
			6 April 2019	resources	expended		5 April 2020
			£	£	£	£	£
	Unrestricted funds		39,386	40,769	(48,758)	-	31,397
			39,386	40,769	(48,758)	-	31,397
14	Analysis of net assets	between funds
		Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
		£	£	£	£	£	£
	Fund balances at 5
	April 2021 are
	represented by:
	Investments	-	942,912	942,912	-	879,304	879,304
	Current assets/
	(liabilities)	65,352	7,311	72,663	31,397	22,758	54,155
		65,352	950,223	1,015,575	31,397	902,062	933,459

15 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .

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