Brewster Maude Charitable Trust Charity Registration No:299002
Trustees' report and unaudited accounts
For the year ended 31 March 2025
Brewster Maude Charitable Trust
Legal and administrative information
| Trustees | Michael Frederick Tremain Maude |
|---|---|
| Alexandra Gray | |
| Andrew Tremain Maude | |
| Charity number | 299002 |
| Principal address | Flat 5 |
| Ormonde House | |
| 28 Sion Hill | |
| Bath | |
| BA1 2UN | |
| Solicitors | Birketts |
| 106 Leadenhall Street | |
| London | |
| EC3A 4AA | |
| Property Managers | Savills |
| 21 Milsom Street | |
| Bath | |
| BA1 1DE | |
| Investment advisors | Brewin Dolphin |
| 4th Floor | |
| The Paragon | |
| Counterslip | |
| Bristol | |
| BS1 6BX | |
| Independent examiner | Julie Mutton FCA |
| S&W Partners Audit Limited | |
| Chartered Accountants | |
| Old Library Chambers | |
| 21 Chipper Lane | |
| Salisbury | |
| Wiltshire | |
| SP1 1BG | |
| Accountants | S&W Partners LLP |
| Accountants | |
| Old Library Chambers | |
| 21 Chipper Lane | |
| Salisbury | |
| Wiltshire | |
| SP1 1BG |
Brewster Maude Charitable Trust
Contents
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of fnancial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 - 12 |
Brewster Maude Charitable Trust
Trustees' report for the year ended 31 March 2025
The trustees present their report and accounts for the year ended 31 March 2025.
The accounts comply with 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) (effective 1 January 2019).
Objects and activities
The charity's objects are to concentrate donations to organisations personal to the settlor.
Grants are made to institutions after consideration by the trustees by way of ongoing meetings and consultations. Grants comprise one-off donations, together with monthly and annual standing orders, the quantum and frequency of which are reviewed by the trustees.
Investment policy
The trustees have wide powers of investment in accordance with the governing instrument (the charitable trust deed) and the provisions of the Charities Acts. In conjunction with the Charity's investment advisors, the trustees consider that a "medium" general risk level for the investments is adequate. The overall objective is balanced.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the trust's aims and objectives and in planning future activities, donations and grants.
Achievement, performance and financial review
Grants
During the year there were 20 (2024: 20) new grants committed to and paid totalling £34,020 (2024: £31,380).
Results for the year
The financial activities are summarised on page 5 of the accounts. During the year, the charity had net expenditure before gains and losses on investments of £7,825 (2024: net expenditure of £7,028).
The investment property was revalued in the year and as such, a revaluation loss of £25,000 has been included in the Statement of financial activities.
Reserves policy
In accordance with Charity Commission guidance, the trustees review on a regular basis the level of income reserves that they consider appropriate. The trustees maintain reserves at a level which enables them to continue with their current grant making policy.
Structure, governance and management
Governance
The charity is a registered charity, number 299002, and was established by a charitable trust deed on 25 March 1988.
By deed of appointment dated 30 March 2009, the net funds held by the trustees of the Barbara Maude Charitable Settlement were amalgamated with this trust. The Barbara Maude Charitable Settlement was established on 18 July 1997 and was registered as a charity, number 1064258.
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Brewster Maude Charitable Trust
Trustees' report for the year ended 31 March 2025
Since both charities had very similar charitable objects, carried out similar grant making activities and were administered by the same individuals, the respective trustees decided that in order to simplify the administration of the two charities and to reduce costs, the funds should be administered as one charity. On 20 July 2009, the charity's name was changed to Brewster Maude Charitable Trust.
There are no specific restrictions imposed by the governing document concerning the way the charity can operate and there are no specific investment powers.
Trustees
The trustees who served during the year were: Michael Frederick Tremain Maude Alexandra Gray Andrew Tremain Maude
The original settlor, Michael Frederick Tremain Maude, has the power to appoint new trustees during his lifetime.
Risk factors
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.
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Brewster Maude Charitable Trust
Trustees' report for the year ended 31 March 2025
Trustees' responsibilities
The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations.) Under that law the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing the accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board of trustees
Michael Maude .................................................
Michael Frederick Tremain Maude
Trustee
Date: 15 October 2025
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Brewster Maude Charitable Trust
Independent examiner's report to the trustees of the Brewster Maude Charitable Trust
I report to the trustees on my examination of the accounts of the Brewster Maude Charitable Trust for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet and the notes to the accounts, including a summary of significant accounting policies.
Respective responsibilities of trustees and examiner and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
(1) accounting records were not kept in respect of the charity as required by section 130 of the Act; or (2) the accounts do not accord with those records; or
(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Julie Mutton
.................................................
Julie Mutton
Fellow of The Institute of Chartered Accountants in England & Wales
S&W Partners Audit Limited Chartered Accountants Old Library Chambers 21 Chipper Lane Salisbury Wiltshire SP1 1BG
Date: 25 November 2025
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Brewster Maude Charitable Trust
Statement of financial activities for the year ended 31 March 2025
| Notes Income: Investment income 2 Total Expenditure: Raising funds 3 Charitable activities - grants 3 , 4 Charitable activities - support costs 3 Total Net expenditure before gains and losses on investments Net (losses)/gains on investments Revaluation of investment property 7 Net (expenditure)/income for the year Transfers between funds Net movement in funds Total reconciliation of funds: Total funds brought forward Total funds carried forward |
General Designated funds funds £ £ 41,928 - 41,928 - 10,219 - 34,020 - 5,514 - 49,753 - (7,825) - (20,953) - - (25,000) (28,778) (25,000) 189,497 (189,497) 160,719 (214,497) 28,902 1,336,709 189,621 1,122,212 |
Total 2025 £ 41,928 41,928 10,219 34,020 5,514 49,753 (7,825) (20,953) (25,000) (53,778) - (53,778) 1,365,611 1,311,833 |
Total 2024 £ 40,693 40,693 10,579 31,380 5,762 47,721 (7,028) 26,426 25,000 44,398 - 44,398 1,321,213 1,365,611 |
|---|---|---|---|
All income and expenditure derives from continuing activities.
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Brewster Maude Charitable Trust
Balance sheet as at 31 March 2025
| Notes Fixed assets Investment property 7 Investments 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets Income funds Unrestricted funds: Designated funds 11 General funds |
£ 3,651 191,758 195,409 (5,788) |
2025 £ 275,000 847,212 1,122,212 189,621 1,311,833 1,311,833 1,122,212 189,621 1,311,833 |
£ 2,055 32,635 34,690 (5,788) |
2024 £ 300,000 1,036,709 |
|---|---|---|---|---|
| 1,336,709 28,902 |
||||
| 1,365,611 | ||||
| 1,365,611 | ||||
| 1,336,709 28,902 |
||||
| 1,365,611 |
The accounts were approved by the board, authorised for issue and signed on their behalf by:
Michael Maude ..............................
Michael Frederick Tremain Maude
Trustee
Date: 15 Otober 2025
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Brewster Maude Charitable Trust
Notes to the accounts for the year ended 31 March 2025
1 Accounting policies
1.1 General information
The Brewster Maude Charitable Trust is an unincorporated trust, registered with the Charity Commission in England & Wales (No. 299002). The address of the registered office is Flat 5, Ormonde House, 28 Sion Hill, Bath, BA1 2UN.
1.2 Basis of preparation
The accounts have been prepared in accordance with 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) (effective 1 January 2019).
The accounts have been prepared under the historical cost convention, as modified to include the revaluation of certain assets.
The trustees confirm that the charity is a public benefit entity as defined by FRS 102.
The accounts are prepared on a going concern basis; there are no material uncertainties about the charity's ability to continue as a going concern.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity and which have not been designated for other purposes.
Designated funds are unrestricted funds which represent funds invested in listed investments and property. The designated fund balance at the year end is adjusted (by a transfer from/to the unrestricted fund) to ensure that the balance equates to the value of investment property and investments on the balance sheet.
1.4 Income
Investment income is credited to the Statement of financial activities in the period in which it is receivable. Interest is credited in the period in which it is received.
1.5 Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.
The costs of raising funds consist of investment management costs and costs relating to the management and maintenance of the investment property.
Grants payable are payments made to third parties in furtherance of the charitable objects of the Trust. Grants payable are charged in the year when the offer is made and the recipient has reasonable expectation that they will receive the grant, except in those cases where the offer is conditional. Such grants are recognised as expenditure when the conditions attaching are fulfilled (or when it is probable that conditions will be fulfilled and satisfaction of the conditions is outside the control of the Trustees).
Support costs consist of costs not directly attributable to direct charitable expenditure but which are in respect of the general administration of the charity and overall management of funds.
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Brewster Maude Charitable Trust
Notes to the accounts for the year ended 31 March 2025
1 Accounting policies
(Continued)
1.6 Investment property
Investment property is included in the accounts at its market (fair) value at the balance sheet date. Any year-on-year change in the fair value is recognised in the statement of financial activities.
1.7 Investments
All investments held are quoted on a recognised stock exchange. Realised and unrealised gains or losses are recognised in the Statement of financial activities. Realised gains or losses are the difference between disposal proceeds and the opening market value (or original cost if purchased during the year). Unrealised gains or losses are the difference between the market value at the year end and the opening market value (or original cost if purchased in the year). Realised gains and losses are not separated in the Statement of financial activities.
2 Investment income
| Rental income Income from listed investments Interest receivable Expenditure Raising funds Investment management fees Property management fees Repairs and maintenance Insurance Charitable activities - grants Grants payable (see note 4) Charitable activities - support costs Bank charges Accountancy fees Independent examiner's fees (governance costs) |
2025 £ 9,300 31,810 818 41,928 2025 £ 7,499 1,482 906 332 34,020 60 4,220 1,234 49,753 |
2024 £ 8,700 31,959 34 |
|---|---|---|
| 40,693 | ||
| 2024 £ 7,314 1,392 1,554 319 31,380 60 4,468 1,234 |
||
| 47,721 |
3 Expenditure
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Brewster Maude Charitable Trust
Notes to the accounts for the year ended 31 March 2025
4 Grants payable
| Grants to institutions: 20 (2024:20) Afghanaid Asylum Aid Bath Child Contact Centre Bath Philharmonia Bhola's Children Dorothy House Downright Excellent Freedom From Torture Friends of Erlestoke Prison Friends of SCC UK Christ Church Hope Christian Trust Horatio's Garden Iford Arts Limited Julian House Pimlico Opera Quaker Social Action Refugee Action Refugee Council The Bhopal Medical Appeal Wexford Festival Youth Action Wiltshire |
2025 £ 3,000 1,240 860 1,440 5,250 2,240 - 1,240 860 200 3,000 720 1,440 3,000 1,440 1,290 1,240 1,240 3,000 960 360 34,020 |
2024 £ 2,250 960 720 1,440 3,000 120 120 960 840 - 7,250 720 1,440 3,000 1,440 1,080 960 960 3,000 400 720 |
|---|---|---|
| 31,380 |
Grants payable comprises grants to institutions for the following charitable purposes:
| Music Welfare Youth Education |
2025 £ 2,400 25,380 360 5,880 34,020 |
2024 £ 1,840 18,690 720 10,130 |
|---|---|---|
| 31,380 |
5 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year (2024: £nil).
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Brewster Maude Charitable Trust
Notes to the accounts for the year ended 31 March 2025
6 Employees
There were no employees during the year (2024: none).
7 Investment property
| At 1 April 2024 Revaluation At 31 March 2025 |
Land and buildings £ 300,000 (25,000) 275,000 |
|---|---|
The cost of the property at 1 April 2024 and at 31 March 2025 was £192,313.
The property represents 18 The Thorns, Marlborough, Wiltshire SN8 1DY.
The trustees valued the investment property at 31 March 2025 on the basis of publicly available information in respect of similar property.
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Brewster Maude Charitable Trust
Notes to the accounts for the year ended 31 March 2025
8 Fixed asset investments
| Market value at 1 April 2024 Disposal proceeds Acquisitions at cost Change in value in the year Market value at 31 March 2025 Equities Fixed interest securities Other investments Cash held within investment portfolio Portfolio total Material investments (greater than 5% of portfolio) 7,463 HSBC Global Funds 2,069 Dodge & Cox Worldwide Funds 19,905 Fidelity Investment Funds 45,340 Ruffer Managed Funds 440 Multi Units Luxembourg 8,490 Personal Assets Trust 9 Debtors Dividends due Funds held by property managers |
Quoted investments 2025 £ 1,036,709 (381,319) 212,775 (20,953) 847,212 Market value £ 582,340 206,276 58,596 847,212 173,204 1,020,416 70,340 67,547 51,726 45,603 44,807 42,620 2025 2024 £ £ 1,725 - 1,926 2,055 3,651 2,055 |
|---|---|
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Brewster Maude Charitable Trust
Notes to the accounts for the year ended 31 March 2025
| 10 Creditors falling due within one year Accruals Other creditors |
2025 £ 5,454 334 5,788 |
2024 £ 5,454 334 |
|---|---|---|
| 5,788 |
11 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Balance at 1 Revaluation April 2024 losses £ Investment fund 1,036,709 - Property fund 300,000 (25,000) 1,336,709 (25,000) |
Balance at Transfers 31 March 2025 £ £ (189,497) 847,212 - 275,000 (189,497) 1,122,212 |
Balance at Transfers 31 March 2025 £ £ (189,497) 847,212 - 275,000 (189,497) 1,122,212 |
|---|---|---|
| 1,122,212 |
The Investment fund and the Property fund represent the value of investments and property which are not considered to be general free reserves.
Investment fund
This fund represents funds invested in listed investments.
Property fund
This fund represents funds invested in freehold property.
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