Charity registration number 281986 CALYPSO BROWNING TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2024
CALYPSO BROWNING TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees J H C Saxton V Browning Charity number 281986 Principal address Greystone Underskiddaw Keswick Cumbria CA12 4PY Independent examiner Dale Mitchell FCCA Azels 9 Thorney Leys Park Wilney Oxlordshiie OX28 4GE Bankers Barclays Bank UK PLC 1 Churchill Place London E14 5HP Investment advisors Bren Dolphin 1 Cavendish Road Leicester LE2 7PG United Kingdom
CALYPSO BROWNING TRUST CONTENTS Page Trustees, report Independent exarllinerfs report Slalemenl of financial activities Balance sheet Notes to the finan¢ial statements 6-12
CALYPSO BROWNING TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their annual report and financial slalemenls for the year ended 5 April 2024. The financial slalements havè been prepared in accordance with the accounting policies sel oul in note 1 to the financial statements and comply with the ¢harity's Deed of Arrangèmènt datèd 26 Novembèr 1979 which was amended on 16 June 2020, the Charities Act 2011 and 'Accounling and Reporting by Gharilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 Objectives and activiti•s The Trust is a charitable Trust established by the Will of the Tale Mis 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 lo distribute the Income among chaiitable societies lor the housing of persons in need and for animal we5fare. The Trust distributes all income to those societies aocordingly. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the cnariry shouia unaertaKe. The Trusiees unttenaKe no auiviiies to wnicn ine cnarity Commission's guioance tsn public benefit applies. Achievements and perfomiance Our main activity is pioviding grants lo animal welf8ie and hornele55ness chanlie5. We have a numIr ol ch8rilie5 Ihal we are comrnilled to give to because of our founding in5trumenl- the will of Calypso Browning. We continue to give lo these charities and also others thal have a particulady strong case lor our support. We prefer smaller charities and Ihose who are tackling 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 7. The valLSe of investments held by the Tiusl has increased in the year from £893,619 to £914,695. Trust In¢ome and expenditure is as detailed in the statemenl of financial aclivilies as detailed on page 4. Financial review The total unrestricted funds in hand al the end of the year were £6,312 which is a decrease of £10,415 this yeai. The total endowment funds at the end of the year were £950.211 which is a increase of £29,073 this year. The Trust distributes 211 Ils Income to the charitable societies. Undistribuled income at Ihe year end is not a reserve. bul only the result of fluctuating income and timing of distributions. During Ihis year, and in the pèriod since then. Ihere have been no significanl changes in income ol the trust or in the pattern of dislribulion. The trustees have assessed the majoi iisks lo which the charity is exposed. and are satisfied that systems are in place to tnitigale exposuie to the major ii5ks. The investments ale managed by Brewin Dolphin Ltd with an investment objective guideline lor In¢ome and Growth Relum and the risk cla5sificalion is classed a5 'Diversified Risk..
CALYPSO BROWNING TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Structure, govemance and management The trustees who served during the year and up to the date o15ignature of the financial slalernerils were.. J H C Saxton V Browning There are trustees as detailed above. At present this number satisfies the need of the Trust, howevei when we need to recruit new trustees we will use networks and proactive recruitment approaches to find new trustees. The Iru51ees' report was approved by the Board of Trustees. J H C Saxton Trustee Dated". rloLI icls
CALYPSO BROWNING TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CALYPSO BROWNING TRUST I report to the trustees on my èxamination of the financial statements ol Calypso Browning Trust (the charilyl for the year ended 5 April 2024 which are sel out on pages 4 to 11. Re$ponsibilities and basis of report As the trustees of the eharily ytsu ale iesponsible for the preparalion ol the financial slalemenls in accordance with the requirements ol the Chaiilies Act 2011 (thè 2011 Acti. I report in respect ol rny exatnination of the charity's financial slalements carried out under sedion 145 of the 2011 Act. In carrying out rny examination I have followed all the applicable DireetlDns given by ltte Charity Commission under 5ec110n 14515llbl ol the 2011 Act. Independènt examin$¢s statement I have completed my exatnination. I confim that no matters have come to my attention in connection with the èxamination giving tne Gause lo believe that in any Materal resped accounting recoids were nol kepl in iespecl of the chaiity as required by section 130 of the 2011 Act, or the financi31 slatÈments do not a¢¢ord with those re¢ords'. or the financial statements do not comply wrth the applicable requirements concerning the form and eonlent ol accounts set Out in the Charities (Accounts and Reportsl Regulalions 2008 other than any requirement that the accounts give a true and fail view which 15 not a matter considered as part ol an Independent exarninalion. I have no concerns and have come across no other matters In connection wrth the examination to which attention should be drawn in this report in order lo enable a proper understanding of the financial slalements to be reached. Dale Mitchell FCCA Azels 9 Thorney Leys Park Witney Oxfordshire OX28 4GE
CALYPSO BROWNING TRUST STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Endowment funds funds 2024 2024 Total Unrestricted Endowment funds fund$ 2023 2023 Total 2024 2023 Notes Investments 32,704 32,704 31,125 31.125 Raising funds 6,575 6,575 8.348 8,348 Charilable activrties 42,095 42,095 51,971 51,971 Totsl exptndlturè 42,095 6,575 48,670 51.971 8.348 60.319 Nel gainslllossesl on investments 34,624 34,624 152,8771 152.8771 Net loutgoin911incoming resources before transfers 19,3911 28,049 18,658 120,8461 161,2251 182,0711 Net movement in funds 19,3911 28,049 18,658 120,8461 161,2251 182,0711 Fund balances at 6 April 2023 16.727 921.138 937,866 37.573 982.364 1.019.937 Fund balances at 5 April 2024 7,336 949,187 956,523 16,727 921.139 937.86fj The statéméllt of financial activities include5 all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
CALYPSO BROWNING TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Notes Fixed assets Investments Current assets Debtors Cash al bank and in hand 10 914.695 893.619 11 257 43,628 257 45,926 43,885 46,183 Creditors.. amounts falling duè within onè year 12 12,0571 11.9361 Net current assets 41.828 44,247 Toial assets less current Ilabilities 956.523 937.866 Capital funds Endowment funds- general Income funds Unrestricted funds 13 949.187 921,139 13 7.336 16,727 956.523 937,866 The financial slalements were approved by the Trustees on J H C Saxlon Trustee
CALYPSO BROWNING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2024 Accountin9 policies 1.1 Accounting convention The accounts have been prepared in accordance with the charity's Deed ofArranagernent, Ihe Chanlies Act 2011 and "Accounting and Reporting by Charities.. Statement ol Recommended PractlC8 applicable lo ¢hariliÈs prèparing their accounts In acGordance with the Financial Reporting Standard applicable in the UK and Republic of Ifelar)d IFRS 1021. The charity is a Public Benefit Enlily as defined by FRS 102. The financial slalements have departed from the Charities IAccounls and Reports) Regulations 2008 only lo the exlenl required lo provide a true and lair view. This departure ha5 involved following the Statement of Recommended Practice lor charities applying FRS 102 rather than the version ol thè Slatement of Recommended Practies which 15 rgferfed to in th8 R8gulalions but which has since been withdrawn. The financial statements are prepared In sterling, which is the functional currency of the charity. Monetary amounts in these financial statetllents are rounded to the nearest £. The accounts have been prepared under the historical cost convention, modified lo include certain financial instruments al fair value. The principal accounting policies adopted are sel out below. At the lime ol appioving the financial slalemefjls. the Iruslees have a iea50nable expectation that the charily has adequate re59urces lo continue in operational existence for the foreseeable future. Thus the trlee$ onlinue lo adopt the going concern basis of accounting in preparing the financial statements. 1.2 Charitable funds Unrestricted funds are available lor use at the discrelion of the Iruslees in furtherance of their charitable objectives Endowment funds are subject to specific conditions by donor5 that the capital must be maintained by the charity. 1.3 Incoming resources Inoome is recognised when the charity is legally entitled lo it after any performance conditions have been rnel. the amounts can be measured reliably. and it is probable that Income will be received. 1.4 Resources expended Liabilitie5 are re¢ogni5ed as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure 15 accounted lor on an accruals basis and has been classified under heling5 that aggregate all costs related to the category. 1.5 Fixed asset investments Fixed asset investments are initially measured at transaction pricè èxcluding transac110n costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in nel incomellexpenditurel for the year. Transaction costs ale expensed as incurred. Investment income 2024 2023 Income from listed investments 32.704 31.125
CALYPSO BROWNING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Ral$lng fund$ 2024 2023 Investment rnanagement 6.575 8,348 6.575 8,348 Charitable activities 2024 2023 Independent examiner lees Bank charges SubscriptlOn5 1.920 63 112 1.680 42 249 2.095 1,971 Grant funding ol activities (see note 51 40,000 50.000 42.095 51.971
CALYPSO BROWNING TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Grants payablè 2024 Grants to Institutions-. East Africa Anirnal Welfarè Shelter the Nation Dog5 Tiust Cotnpassion in Wodd Southern Thailand Elephant Proiecl Idelwild Animal Sancluary Sl Martin in the Field Oa51s Domestic Abuse Animal Rescue Cumbna YMCA 240 Project NOAH Step by Step Off the Slreets Evolve Housing RSPCA Harper Asprey Wildlife Rescue Forever Hounds Trust PDSA Head Office Islir)gton Centre for Refugees and Migr3rits The Nature Nook The Porch The Donkey Sanctuary 3,000 2,000 2.000 2.000 2,000 2,000 2,000 2,000 2.000 2.000 2.000 2.000 2,000 2.000 2.000 1.500 1.500 1.500 1.000 1.000 1.000 1.000 500 40.000 Trustees None of the truslees lor any peT50ns connected with them) received any remuneration or benefits from the chaiily during the year. Employeès The average monthly numbei ol employees during the year was". 2024 Number 2023 Numbèr Tolal There were no employees whose annual remuneration was more than £60.000.
CALYPSO BROWNING TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 Net gainslllossesl on invèstmènts 2024 2023 Revaluation of Investments Gainlllossl on sale of investmen15 27.095 7,529 156,3421 3,465 34.624 152,8771 Taxation The charily is exempt fiotn lax on Incorne and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationol Chargeable Gains Act 1992 to Ihe extent that these are applied to ils charitable objècts.
CALYPSO BROWNING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 10 Fixed a$set investments Listed invèstments Cost or valuation At 6 April 2023 Additions Valuation changès Profit l Loss on Disposals Disposals 893.819 115.720 26.909 7.529 1129.0821 Al 5 April 2024 914.895 Carrying amount At 5 April 2024 914.695 Al 5 April 2023 893.619 Fixed asset investments revalutd All investments are carried al their fair value. The investments are managed by Brewin Dolphin who piovide a valuation report at 5 April 2024. The valLJations have been prepared, generally. on the basis of the rniddle market price at the close of business on the v8lualion dale. and as supplied by exlemal infoirn8lion prowders. 11 Debtors 2024 2023 Amounis falling duè within one year.. Other debtors 257 257 12 Crèdilors= amounts falling due within one year 2024 2023 Other creditors Accruals 257 1,800 256 1.680 2,057 1.936 10
CALYPSO BROWNING TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 13 Endowmentfunds Endowment funds represent assets which musl be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects ol the charity and is included as unrestricted income. Any capital gains 01 losses arising on the assèts form part of the fund. Movement in funds Incoming Resources Transfers Revaluations Balancè at 5 resources expended gain5 and April 2024 19$ses Balance al 6 April 2023 Permanent endowments Investrnent portfolio 982,364 1.024 16,5751 34,624 950.211 921,138 1,024 16,5751 34,624 949, 187 Mov•mènt in funds Incoming Resources Transfers Revaluations Balance at 5 resources expended gain5 and April 2023 losses Balance at 6 April 2022 Pemianent endowments Investrnent portfolio 950,223 17,0231 39.164 982,364 950,223 17.0231 39,164 982,364
CALYPSO BROWNING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 14 Unrestricted funds These are unrestricted funds which are material lo the chaiiV5 activitiès made up as follDWS'. Movement in funds Incomlny Re$our¢•$ Balanc* at rosourcos pxpended 5Aprll 2024 Balanco at 6 Aprll 2023 Unrestricted funds 16,727 110,4151 6,312 16,727 110,4151 6,312 Movement in fund5 Incomlng R&50urc•s Balanc• at rgsour¢g$ expendgd SAprll 2023 Bolance at 6 Aprfl 2022 Unrestricted funds 37.573 31.125 151.9711 16.727 37,573 31,125 151,9711 16.727 15 Analysis of net assèts bètwèen funds Unrestricted Endowment funds funds 2024 2024 Total Unrestricted Endowment funds funds 2023 2023 Total 2024 2023 Fund balances al S April 2024 alè represented by. Investments Current asselsllliabililiesl 914,695 41,828 914,695 41,828 893.619 44.247 893.619 44.247 956,523 956,523 937,866 937.866 16 Related party tran¥actions There were no disclosable related party transactions during Ihe year12023 - nonel 12