**Charity registration number 281986 (England and Wales)**
## **THE CALYPSO BROWNING TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2025**
## **THE CALYPSO BROWNING TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|J H C Saxton|
|---|---|
||V A Browning|
|**Charity number**|281986|
|**Principal address**|Greystone|
||Underskiddaw|
||Keswick|
||Cumbria|
||CA12 4PY|
|**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|
## **THE 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 - 11|
## **THE CALYPSO BROWNING TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
The trustees present their annual report and financial statements for the year ended 5 April 2025.
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 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 value of investments held by the Trust has decreased in the year from £914,694 to £896,646.
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 £3,496 which is a decrease of £2,816 this year. The total endowment funds at the end of the year were £905,593 which is a decrease of £44,618 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'.
- 1 -
## **THE CALYPSO BROWNING TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **Structure, governance and management**
The trustees who served during the year and up to the date of signature of the financial statements were:
J H C Saxton V A Browning
There are two trustees as detailed above. At present this number satisfies the need of the Trust, however when we need to recruit new trustees we will use networks and proactive recruitment approaches to find new trustees.
The trustees' report was approved by the Board of Trustees.
**J H C Saxton** Trustee Dated: 5 February 2026
- 2 -
THE CALYPSO BROWNING TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE CALYPSO BROWNING TRUST
l pOrt to the trustees on rny examinab.on of the financial $lalements ol Th¢ Catypso Browning Trijsl Ith8
tharity} for lh& yèai ended 5April 2925 which are set out on pages 4 to 11.
R&sponslbllltlè¥ and basis of r•port
As the trustees of the charity you are re$p¢)nsible for the praparalion of the finarKial statements in accor¢Jance
wrth the requirèments of the Charities Act 2011.
I report in iespect of my examination of the charty's ffinancial statements cairied out under sec*on 145 of Ihe
Charrties Act 2011. In carrying out my examination I have followed the Directs'(x)s given by the Charrty
Commission under section 145151{bl of the Charf(ies Aci 2011.
Ind•pendent examin•rfs ststejnent
I havè compEeled my examination. I confirm that no matters have come lo my attention in cnneCtIoN wlh the
examination giving me causo lo believe that in any material respect..
a¢¢ounling records were not kept in respect of thè ¢haiity as required by $oction 130 of the Charities Act
2011.
the financial stslements do not accord wtth those records,, or
the financial statements do not compty wrfh the applicable requirèments ¢orKerning tha form and content
of financial statemgnls set oui in the Charflies (Accounts and Rèport81 Regulations 2008 other than any
requirement that the financial statements give a true and fair view, which is not a matter considered as
part of an independent examination.
I havg no coremS and hav8 com& 8tt0s8 no other matt&rs in connection with the eXaMinatn to whi¢h
attention should ba diawn in this report in order to enable a proper undarstanding of the financial stat&menls lo
be reached.
Dale Mitchèll FCC
Azels
9 Thorngy Ley8 Park
tney
Oxford5hire
OX28 4GE
Dated.. 5 February 2026
## **THE CALYPSO BROWNING TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
|**Unrestricted Endowment**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
-
3,000
Investments
**3**
33,228
-
**Total income and**
**endowments**
33,228
3,000
**Expenditure on:**
Raising funds
**4**
-
6,256
Charitable activities
**5**
39,044
-
**Total expenditure**
39,044
6,256
Net gains/(losses) on
investments
**9**
-
(38,362)
**Net (outgoing)/incoming**
**resources before transfers**
(5,816)
(41,618)
**Net movement in funds**
(5,816)
(41,618)
Fund balances at 6 April 2024
6,312
950,211
**Fund balances at 5 April**
**2025**
496
908,593|**Total Unrestricted Endowment**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
3,000
-
-
33,228
31,680
1,024
36,228
31,680
1,024
6,256
-
6,575
39,044
42,095
-
45,300
42,095
6,575
(38,362)
-
34,624
(47,434)
(10,415)
29,073
(47,434)
(10,415)
29,073
956,523
16,727
921,138
909,089
6,312
950,211|**Total**
**2024**
**£**
-
32,704|
|---|---|---|
|||32,704|
|||6,575|
|||42,095|
|||48,670|
|||34,624|
|||18,658|
|||18,658
937,865|
|||956,523|
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **THE CALYPSO BROWNING TRUST**
## **BALANCE SHEET**
## _**AS AT 5 APRIL 2025**_
|**Notes**
**Fixed assets**
Investments
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds - general
**14**
**Income funds**
Unrestricted funds
**13**|**2025**
**£**
257
14,334
14,591
(2,148)|**£**
896,646
12,443
909,089
908,593
496
909,089|**2024**
**£**
257
43,628
43,885
(2,057)|**£**
914,695
41,828|
|---|---|---|---|---|
|||||956,523|
|||||950,211
6,312|
|||||956,523|
The financial statements were approved by the Trustees on 5 February 2026
J H C Saxton **Trustee**
- 5 -
## **THE CALYPSO BROWNING TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **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 amounts 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.
## **2 Income from donations and legacies**
||**Endowment**|**Endowment**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Other|3,000|-|
- 6 -
## **THE CALYPSO BROWNING TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **3 Investment income**
|**Unrestricted Endowment**
**funds**
**funds**
**general**
**£**
**£**
Income from listed investments
33,228
-
**For the year ended 5 April 2024**
31,680
1,024
**Raising funds**
Investment management
**Charitable activities**
Independent examiner fees
Bank charges
Subscriptions
Grant funding of activities (see note 6)|**Total**
**2025**
**£**
33,228
**2025**
**£**
6,256
6,256
**2025**
**£**
1,890
42
112
2,044
37,000
39,044|**Total**
**2024**
**£**|
|---|---|---|
|||32,704|
|||**2024**
**£**
6,575|
|||6,575|
|||**2024**
**£**
1,920
63
112|
|||2,095
40,000|
|||42,095|
## **4 Raising funds**
**5 Charitable activities**
- 7 -
## **THE CALYPSO BROWNING TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **6 Grants payable**
|**Grants payable**||
|---|---|
||**Grants**|
||**Payable**|
||**2025**|
||**£**|
|Grants to institutions:||
|Off The Streets Essex|3,500|
|Shelter|2,000|
|Dogs Trust Worldwide|1,500|
|Compassion In World Farming|1,000|
|RSPCA Sussex West|1,000|
|PDSA Head Office|500|
|The Donkey Sanctuary|500|
|Happy Days UK|3,000|
|Yorkshire Car Rescue|1,500|
|Cambride Women's Aid|3,000|
|Animal Welfare East Africa|6,000|
|Elizabeth Fry Charity|3,000|
|Maidstone Churches Homeless Shelter|3,000|
|Hoorse Aid Care and Knowledge|1,500|
|Streetvet|1,500|
|Swansea Cats and Kittens|1,500|
|Wadas|1,500|
|Animal Rescue Cumbria|1,500|
||37,000|
||37,000|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **8 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
- 8 -
## **THE CALYPSO BROWNING TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **9 Net gains/(losses) on investments**
|Revaluation of investments
Gain/(loss) on sale of investments|**2025**
**£**
(38,436)
74
(38,362)|**2024**
**£**
27,095
7,529|
|---|---|---|
|||34,624|
## **10 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **11 Fixed asset investments**
||**Listed**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 6 April 2024|914,695|
|Additions|92,298|
|Valuation changes|(38,632)|
|Profit / Loss on Disposals|74|
|Amendment to book cost|(1,821)|
|Disposals|(69,968)|
|At 5 April 2025|896,646|
|**Carrying amount**||
|At 05 April 2025|896,646|
|At 05 April 2024|914,695|
## **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 2024. 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.
## **12 Debtors**
|**Debtors**|||
|---|---|---|
||**2025**|**2024**|
|**Amounts falling due within one year:**|**£**|**£**|
|Other debtors|257|257|
- 9 -
## **THE CALYPSO BROWNING TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **13 Creditors: amounts falling due within one year**
|Other creditors
Accruals|**2025**
**£**
258
1,890
2,148|**2024**
**£**
257
1,800|
|---|---|---|
|||2,057|
## **14 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**|||
|---|---|---|---|---|---|---|
||**Balance at 6**|**Incoming**|**Resources**|**Transfers**|**Gains and**|**Balance at 5**|
||**April 2024**|**resources**|**expended**||**losses**|**April 2025**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**Permanent endowments**|||||||
|Investment portfolio|950,211|-|(6,255)|-|(38,362)|905,593|
||950,211|-|(6,256)|-|(38,362)|908,593|
||||**Movement**|**in funds**|||
||**Balance at 6**|**Incoming**|**Resources**|**Transfers**|**Gains and**|**Balance at 5**|
||**April 2023**|**resources**|**expended**||**losses**|**April 2024**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**Permanent**|||||||
|**endowments**|||||||
|Investment portfolio|921,138|1,024|(6,575)|-|34,624|950,211|
||921,138|1,024|(6,575)|-|34,624|950,211|
## **15 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At**|**6**|**April**|**Incoming**|**Resources**|**At**|**5**|**April**|
|---|---|---|---|---|---|---|---|---|
||||**2024**|**resources**|**expended**|||**2025**|
||||**£**|**£**|**£**|||**£**|
|General funds|||6,312|33,228|(39,044)|||496|
- 10 -
## **THE CALYPSO BROWNING TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
|**15**|**Unrestricted funds**||||**(Continued)**|
|---|---|---|---|---|---|
||**Previous year:**|**At 6 April**|**Incoming**|**Resources**|**At 5 April**|
|||**2023**|**resources**|**expended**|**2024**|
|||**£**|**£**|**£**|**£**|
||General funds|16,727|31,680|(42,095)|6,312|
|**16**|**Analysis of net assets between funds**|||||
||||**Unrestricted**|**Endowment**|**Total**|
||||**funds**|**funds**||
||||**2025**|**2025**|**2025**|
||||**£**|**£**|**£**|
||**At 5 April 2025:**|||||
||Investments||-|896,646|896,646|
||Current assets/(liabilities)||3,496|8,947|12,443|
||||3,496|905,593|909,089|
||**_Per balance sheet_**||496|908,593|909,089|
||**_Balance to allocate_**||(3,000)|3,000|-|
||||**Unrestricted**|**Endowment**|**Total**|
||||**funds**|**funds**||
||||**2024**|**2024**|**2024**|
||||**£**|**£**|**£**|
||**At 5 April 2024:**|||||
||Investments||-|914,695|914,695|
||Current assets/(liabilities)||6,312|35,516|41,828|
||||6,312|950,211|956,523|
## **17 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
## **18 Restatements**
The 2024 accounts incorrectly declared income of £1,024.40 as unrestricted funds, instead of the endowment fund. A restatement journal has now been posted to correct the comparatives in the 2025 accounts. This has the effect on the accounts of increasing the endowment fund by £1,024.40 and decreasing the unrestricted fund by £1,024.40.
The affected statements and notes are as follows:
- Statement of Financial Activities
- Balance Sheet
- Note 2 – Investment income
- Note 13 – Endowment funds
- Note 14 – Unrestricted funds
- Note 15 – Analysis of net assets between funds
- 11 -