The Nora and Olive Brewer Memorial Trust (Registered as a charity. Dumber 296988) Trnstees, Report For the year ended 31 December 2024 Governing In&trumen¢ The Olive and Nord Brewer Memorial Trust was established by Trust Deed dated 22 May 1987. Objective The primary trust is to pay the income arising from the tn fund: 60 % in equal shares absolutely to the following charities: Save the Children Fund Guide Dogs (fornierly Guide tk)gs for the Blind Association) Action on Hearing Loss (forn)erly Royal National Institute for the Deafj Livability (forn]erly John Groom's Association for the Disabled) Cancer Research UK (fornierly Imperial Canccr Reseawh Fund) Helen House Hospice The remaining 40% to the Parochial Church Council of the Parish of Putney "for the maintenance and renewal of and additions to the Church buildings and their cont¢nts within the said PaTish other than the vicarage and the parish office" BrirfHirfory The Trust remained inactive until the death of Miss Olive Brewer on 8 December 1999, Miss Nora Brcwer having died earlier. The sisters had left their interest in their family home in Putney to the Trust and this property was sold in Fcbruary 2001. Sale proceeds of £1.535.000 were received by the Trustees on 12 March 2001 and balancing distributions from the Estate of Olive Brewcr of £23,516 during 2002. Trxste The Trustees who held office during the year are: Gerald Allison Michael Bull Ben Helm Richard Holman Mark Leadley Graham Shaw All decisions of the Trust are made at full meetings of all the trustees. One meeting was held in 2024. The investment sulFcommittee, consisting of three trustees has continued to monitor the perforniance of the charity's portfolio. The power of appointing new trustees is vested in thc continuing trustees. RegisleredAddress The registered address of the Trust is I l Genoa Avenue, Putney, London SW15 6DY. Advlsers Alastair Carnero Chartered AccountanL is the Independent Examiner of the accounts.
The TTUSt's banker is National Westminster BanK 111-117 Putney High Stree¢ London SWI5 2LL. The Trust has invested in a range of charity common funds comprising fixed interest, equity and commercial propety &ssety all managed by major international investment managers. Public Beneftt The Trust provides public benefit by giving substantial and consistent financial SUPFX)rt to th¢ religious and community work of the Parish of Putney as well &s to six well established national Charities. Financial Report The founding Deed gives the Trustees '%he same full and unrestricted powers of investing and transposing investments in all respects as if they were absolut¢ly ¢ntitled to th¢ Trust Fund beneficially" The Trustees, investment strategy is risk aveTse and is designed to maximis¢ income while protecting the value of the assets and seeking capital growth that at least equates with inflation. The Trust is a long terni invcstor. Since the charity exists to distribute income and has few enSeS it does not seek to retain any reserves. The income for thc year amounted to £90.383 (2023: £87,529). The incrvase in income was due to the disposal of one equity fund holdin& the proceeds of sale being held on deposit for the rest of the year to take advantag¢ of high interest rates. There were no administrative expenses (2023: Nil) and all income is payable as grants. Grants are paid annually in the autumn and comprtse the Trust's income for the twelve months to 30 Scptcmb¢r. Unr¢alised gains on the Trust's investments in 2024 amountcd to £58,631 (2022: losses £502). Realised losses in 2024 were £13,082 (2023: £Nil). Equity funds perfornled well but those invested in property saw a slight fall, but have been retained by the trustees due to their high yield. The total value of Trust assets at 31 December 2024 was £1,957.667 (2022: £1.912.117). Accounting Polici The Accounts have been prepared under the historical cost convention. Credit is taken for investment income in the Statement of Affairs in the year in which it arises. Grants made by the TTUSt are recognised in the Statement of Financial Affairs of the year in which the income from which they are paid arises. Investments are shown at bid price at 31 December 2024. Olher infOrnll0n The Trust itself has no connection with any other charity, but Richard Holman, Graham Shaw and Mark Leadley are members of th¢ Parochial Church Council of the Parish of Puiney ('the PCC,), a beneficiary of the Trust. The Trust tked requires that at least two trustees shall be members of the PCC at all times. Signed on b¢half of th¢ TnS Richard Holman (Chairnian) * f71(- 2025
Independent Examiner's report to the Trustees of The ]Yora and Olive Brewer MemorAal Trust I report to the Trustees on my examination of thc accounts of the Tnt for the year ended 31. December 2024, which are set out on pages 4 to 6. Respective responsibiliti of Trustea and Examiner As thc charity's Trustees you are res]x)nsibl¢ for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. The charity's Trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) as amended by s.28 of the Charities Act 2006) and that an independcnt examination is needed. It is my responsibility: To Cmine the accounts (under section 43 of the ACL &8 amended)" To follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the Ac¢ as amended)" and To state whether particular matters have come to my att¢ntion. Basis of independent examiner's report My Cmination was carricd out in accordance with the G¢n¢rnl Directions given by the Charity Commission. An examination includes a review of the accounting records k¢pt 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 procedures undertaken do not provide all the evidence that would be required in an audiL and consequently I do not express an audit opinion on the accounts. Independent examiner's statement I have completed my examination. I confirn) thaL in the course of my examinatio no matter has comc to my attention- (i) which gives me reasonable cause to believe th8L in any matsrial respecL the Trustees have not Met 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 rdises any concern and to which, in my opinion, attention should be drawn in ordcr to cnable a proper understanding of the accounts to be reached. (2) Alastair Cameron Chart¢r¢d Accountant 54 Chartfield Avenue. Putney, London SWI 5 6HG Date: 4 &116-b6- 2025
The Nora and Olive Brewer Memorial Trust srATEMENT OF FINANCIAL AcnviTY For the year ended 31 December 2024 Notes 2024 2023 Incoming Resources Investment income 77,484 86,092 Interest Received 12,899 1,437 Totsl Incoming Resources 90,383 87,529 Resources Expended Grants Bankcharge 90.360 23 87,529 90,383 87,529 Net Movement in resources Realised galns / (losses) on investments Unrealised gains / Ilosses) on investments 113.082) 58,631 45,549 (5021 {5021 Fund balance at l January 2024 1.912,117 1.912,619 Fund balance at 31 December 2024 1,957,667 1,912,117 All funds are restricted
The Nora and Olive Brewer Memorial Trust BALANCE SHEEf at 31 December 2024 2024 2023 ASSETS Investments Notes 1,650,IX19 1,903,476 Cash: COIF Deposit Account Bank Current Account 313,462 20,070 8,693 25,357 1,983,541 1,937,526 LIABILITIES Grants payable {25.874) 125,408) 1.957,667 1,912,117 Representing FUNDS: Trust Capital: Restricted Fund 1,957,667 1,912,117 1,957,667 1,912,117 Approved by the Trustees on 4 fyP- 2)- Richard Holman Michael Bull
The Nora and Olive Brewer Memorial Trust Notes to the Aeeounts For the year ended 3111 December 2024 ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convcntion and have been dramm up in accordance with the statement of recommended practice for accounting by charities. Recognition ofincopne and expenditure Investment income from charity common fidS is recognised in the period in which it is received. Deposit interest is recognized in the period in which it arise& on an accruals basis. Since the tenns of the TTht Deed require all income to be distributed to specific beneficiari¢s, grants made by the Trust are Charg in the accounts in the period in which the income from which they are derived is recognized. GRANTS PAYABLE The total of grdnts payable equals the Trust's income for the yeaT. The distribution of the income for the period from 1st October 2023 to 30 September 2024 was paid between mid-November and mid-De£ember 2024. The amount shown under Liabilities on the Balanc¢ Sheet represents fourth quarter incorne, which will be paid in 2025. tNVESTMENrs Bid price value at l January 2024 1,903,476 Sales in 2024 {299.016) Realised losses during the ycar (13,082) Unrealis¢d gains during the y&gr 58.631 Bid price value at 31 December 2024 £1,650,009