The Nora and Olive Brewer Memorial Trust Oiegistered as a charity, number 296988) Trnstees, Report For tbe year ended 31 December 2023 Governing Inftrument Th¢ Oliv¢ and Nvra Br¢w¢r M¢morial Trust was estsblished by Trust D¢ed dat¢d 22 May 1987. Objeclive The primary trust is to pay the income arising from the trust fimd: 60 % in equal shares absolutely to the following charities". Save the Childr¢n Fund Guide Dogs (fom]erly Guide Dogs for the Blind Association) Action on H¢aring Loss (forni¢rly ROY National Institute for the D¢afj Livability (fonnerly John Groom's Association for the Disabled) Cancer Research UK (forni¢rly Imperial Cancer Research Fund) Helen House Hospice Th¢ remaining 400/0 to the Parochial Church Council of the Parish of Puthey 'Yor the maintenance and ren¢wal of and additions to the Church buildings and their contents within the said Parish other than the vicarage and the parish office" BriefH&s¢ory The Trust remained inactive until the death of Miss Olive Brewer on 8 December 1999, Miss Nora Brewer having died carlier. The sisters had left their interest in their family home in Putney to the Trust and this property was sold in February 2001. Sal¢ proceeds of £1,535,000 were received by the Trustees on 12 March 200I and balancing distributions from the Estate of Olive Brewer of £23,516 during 2002. Tpustees The Trustees who held office during the year are: Gerdld Allison Michael Bull Ben Helm Richard Holman Mark Leadley Graham Shaw All decisions of the Trust ar¢ made at full meetings of all the trustees. One m¢cting was held in 2023. The investment sulTrcommitte4 consisting of three trustee& has continued to monitor the perforn]ance of the charity's portfolio. The power of appointing new trustees is vested in the continuing trustees. RegisteredAddress The regist¢r¢d address of the Trust is I l Genoa Av¢nu¢, Puthcy, London SW15 6DY. Adviyers Alastair Cameron, Chartered AccountanL is the Independent Examincr of the accounts.
The Trust's bankers are National Westsninster BanK I 11-117 Putney High Street. London SW15 2LL. The Trust has invested in nine charity common funds comprising fixed interesL equity and comm¢rcial prop¢rty ass¢ts. Public Benef Thc Trust providcs public Inefit by giving substantial and consistent financial support to the religious and community work of the Parish of Putney as w¢ll as to six well established national chariti¢s. Financial Report The founding Deed gives th¢ Truste¢s '%he same full and unrestricted powers of investing and transposing investments in all respects as if they were absolutely entitled to the Trust Fund beneficially" The Trustees. investment strategy is risk averse and is designed to maximise incorne while protecting the value of the &ssets and seeking capital growth that at least equates with inflation. The Trust is a long tern) investor. Since the charity exists to distribute income and has few expenses it does not seek to retain any reserves. The income for the year amounted to £87,529 (2022: £81,395). The increase in income was due to higher dividends being paid by the underlying investec companies. There were no administrative expenses (2022: Nil) and all income is payable as grants. Grants are paid annually in the autumn and comprise the Trust's income for the twelve months to 30 September. Unrealised losses on the Trust's investments in 2023 amounted to £502 {2022: losses £168,463). Equity funds perforn]ed well but those invested in property saw a fall in excess of 60/0 during the year as a result of the rise in interest rates. The total value of Trust assets at 31 December 2023 was £1.912.117 (2022: £1,912,619). Accounting Policies The Accounts have been prepared under the historical cost convention. Cr¢dit is taken for investsnent in¢ome in the Statement of Affairs in the year in which it arises. Grants made by the Trust are recognised in the Statement of Financial Affairs of the year in which the income from which th¢y are paid arises. Investments ar¢ shown at bid price at 31 December 2023. Other information The Trust its¢lf has no connection with any other charity, but Richard Holman, Graham Shaw and Mark Leadley are members of the Parochiaj Church Council of the Parish of Putney ('the PCC"), a beneficiary of th¢ Trust. The Trust Deed requires that at least two trustees shall be mcmbcrs of th¢ PCC at all times. Signed on behalf of the Trustees Richard Holman (Chairnian) 18 ty 2024
Independent Examiner's report to the TrllSte of The Norn Olive Brewer Memorial Trust I report to the Trustees on my examination of the accounts of the Tnt for the year end¢d 31° December 2023, which are set out on pages 4 to 6. Respective responsibAlities of Trustees and Examiner As the charity's Trustees you are resp)nsible for the preparation of the accounts in accordance with th¢ requirem¢nts of the Charities Act 2011. The clwity's TnteeS consider that an audit is not required for this year (under section 43(2) of the Chariti¢s Act 1993 (th¢ Act) as amended by s.28 of the Charities Act 2006) and that an independent examination is ne¢d¢d. It is my responsibility: To examine the accounts (under section 43 of the ACL as amended); To follow the proccdurcs laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the ACL &$ amended). and To statc wh¢th¢r particular matters have come to my attention. B&8is of independent examiner's report My examination was carried out in a¢¢ordanee with the General Directions given by the Charity Commission. An examination includes a review of the accounting rccords kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from the trustees concerning any such matters. The pn)cedures undertaken do not provide all the evidence that would be required in an audiL and consequently I do not express an audit opinion on th¢ accounts. Independent examiner's statement I have completed my c9M1nat1on. I confirn) thaL in the course of my eqminatiOn, no matter has come to my attention: (i) which gives me reasonable cause to believe thaL in any material respect, the Trustees have not m¢t the requirements to ensure that: proper accounting records are kept (in accordance with Section 41 of the Act)" and accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act which raises any concern and to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. (2) Alastair Cameron Chartered Accountant 54 Chartfield Avenue, Putney. London SWI 5 6HG Date". 2024
The Nora and Olive Brewer Memorial Trust STATEMENT OF FINANaAL AcllvTrY For the year ended 31 Dernber 2023 Notes 2023 2022 Incoming Resources Investment income 86,092 81,261 Interest Received 1.437 134 Total Incoming Resources 87,529 81,395 Resources Expended Grants 87,529 81,395 87,529 81,395 Net Movement in resour$ Realised gains / (losses) on Investments Unrealised gains / (losses) on investments (502) (502) 1168,463) 1168,463) Fund balance at l January 2023 1.912,619 2,081,082 Fund balance at 31 December 2023 1,912,117 1,912,619 All funds are restricted
The Nora and Olive Brewer Memorial Trust BAIANCE SHEEf at 31 December 2023 2023 2022 Notes Investments 1,903,476 1,903,978 Cash: COIF Deposit Account Bank Current Account 8.693 25,357 14,598 17.349 1,937,526 1,935,925 LIABILITIES Grants payable (25.408) (23,3061 1,912,117 1,912,619 Representin8 FUNDS: Trust Capital: Restricted Fund 1,912.117 1,912,619 1,912,117 1,912,619 Approved by the Trustees on 18 Aly 21 Richard Holman Michael Bull
The Nora and Oliv¢ Brewer Memorial Trnst Not&4 to th¢ Accounts For the year ended 31rt December 2023 ACCOUNTING POLICIES Accot4nling com?ention The fmancial statements have been prepared under the historical cost convention and have been drawn up in accordance with the statement of recommended pwtice for accounting by charities. Recognition of income and expenditure Investment income from charity common funds is recognised in the period in which it is received. Deposit int¢rest is rognIzed in the period in which it arises, on an accruals basis. Since the ternis of the Trust Deed require all incom¢ to Ix distribut¢d to specific beneficiaries, grants made by the Trust are charged in the accounts in the period in which the income from which they are deriv¢d is r¢cognized. GRANTS PAYABLE The total of grants payable equals the Trust's income for th¢ y¢ar. Th¢ distribution of the income for the period from 1° October 2022 to 30th September 2023 was paid on 6 November 2023. The amount shown undcr Liabilities on th¢ Balanc¢ Shcet represents fourth quarter income. which will be paid in 2024. INVESTMENrs Bid price value at l January 2023 1,903,978 Unrealised losses during the year (502) Bid price value at 31 December 2023 £1.903,476