BRANTWOOD TRUST
ANNUAL REPORT & FINANCIAL STATEMENTS for the year ended 31 December 2022
Charity Commission Registration No: 504743
Prepared by:
IAN DALZELL LTD Chartered Accountants
Broughton Lodge Mews Field Broughton Grange-over-Sands Cumbria LA11 6HL
BRANTWOOD TRUST
MANAGEMENT TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2022
CONTENTS
Page
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3 Charity Information
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4 Management Trustees’ Annual Report
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8 Statement of Management Trustees Responsibilities
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9 Independent Examiners Report
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10 Statement of Financial Activities
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11 Balance Sheet
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12 Cash Flow Statement
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13 Notes to the Financial Statements
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BRANTWOOD TRUST
CHARITY INFORMATION
Charity Commission Registration Number: 504743 Inland Revenue Exemption Number: XN 69869 Trustee: The Education Trust Limited Management Trustees: Ms Charlotte J G Robins (Chair) The Hon Mrs C G Edwards Professor R A P Hewison Ms J Nichola Johnson Professor S Walker
Director of Brantwood: Howard Hull Secretary to the Management Trustees: Howard Hull Brantwood CONISTON Cumbria LA21 8AD Correspondence Address: Brantwood Trust
Brantwood Trust Brantwood CONISTON Cumbria LA21 8AD
Telephone: Bankers:
015394 41396 Barclays Bank PLC Market Place Ambleside Cumbria LA22 9BY
Independent Examiner:
Ian Dalzell Ltd Broughton Lodge Mews Field Broughton Grange-over-Sands Cumbria LA11 6HL
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BRANTWOOD TRUST
MANAGEMENT TRUSTEES’ ANNUAL REPORT
The Management Trustees are pleased to present their Annual Report and the Financial Statements for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
Creation
The Charity was formed by an Order of the High Court dated 10 July 1951. The Education Trust Ltd is the Trustee of the Charity and appoints Management Trustees.
The Charity is registered with the Charity Commissioners under number 504743. The Inland Revenue recognise the Trust as a charity within the definition of Section 506(1) Income and Corporation Taxes Act 1988.
Objectives
The objectives of the Charity are to administer Brantwood
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as a permanent memorial to John Ruskin and as a museum, to which members of the public shall have access, containing collections of drawings, books and objects of interest connected with John Ruskin
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as a place of study and recreation for members of universities, colleges and other places of education and such other members of the public as may from time to time be approved by the Management Trustees .
The Management Trustees have considered the Charity Commission’ guidance on public benefit, including the guidance on public benefit and fee charging. The Trust relies on grants, donations and income from admission charges to cover its operating costs. In setting the level of fees, charges and concessions, the Management Trustees give careful consideration to the accessibility to Brantwood to all who wish to visit.
The strategies employed to achieve the charity’s aims and objectives in the last year are set out in the Review of Activities below.
Review of Activities
The Charity continued to administer Brantwood in 2022. The house and accommodation were closed for the first three weeks of January for maintenance work, following which it was open to the public throughout the year. In March, Kat Parker joined the staff as General Manager. Brantwood continued its recovery from the pandemic but was affected by accelerating levels of inflation in the latter part of the year. Concerts and events were resumed and included Drawing Room performances by Anthony Hewitt and Martin Roscoe. The Studio was a venue for the Lake District Summer Music Festival, hosting Sophie Rosa performing Bach on the violin. Outdoors, the Illyria theatre company performed two well-attended outdoor theatre performances, Midsummer Night’s Dream and Peter Pan . The education project with local schools was resumed.
A significant and ambitious trilogy of exhibitions in the Blue Gallery explored John Ruskin in the Age of Science. Co-curated by Sandra Kemp of Lancaster University, Keith Moore of the Royal Society and Howard Hull of Brantwood, they explored in sequence, Climate Change, Abstraction and the Science of Sight, the latter also shown at the Royal Society in
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BRANTWOOD TRUST
MANAGEMENT TRUSTEES’ ANNUAL REPORT (continued) Review of Activities (continued)
London. Exhibitions in the Studio included artists Kate Bentley; Mark Pearce; Rachel Gibson; Anthony Mortimer; Chris Tribble; David Fulford; and Daniel Cooper. The summer show was an exhibition by the Arthur Ransome Trust of covers and illustrations of Swallows and Amazons books from around the world.
A notable addition to the collection was made by Richard and Cornelia Fawcett, who donated Ruskin’s substantial glass-fronted family bookcase, so that it could be restored to the position it had occupied in Ruskin’s study during his lifetime.
Financial Information
The results of the Charity’s activities are contained in the attached financial statements.
Visitors (2022: 16,106; 2021: 15,766; 2020: 4,302; 2019: 27,526; 2018: 23,354; 2017: 23,148; 2016: 23,162, 2015: 22,388, 2014: 22,963, 2013: 23,350, 2012: 23,486, 2011: 27,567, 2010: 27,934) to Brantwood were very much better than in 2020 due to Covid restrictions being lifted from April 2021 when the House, Accommodation and Cafe were closed. Shop sales at £45,329 were better than 2021 (£39,176) and were very much better than in 2020 (£6,112). The profit margin on shop sales was similar in the year at 55.1% compared with 55.5% in 2021. Unrestricted grants and donations were higher in 2022 than in 2021 (2021: £126,547; 2020: £260,878; 2019: £19,636; 2018: £14,943; 2017: £15,079; 2016: £24,856). This was due to a large donation from The Education Trust in 2022 to assist with cash flow (2022: £202,000; 2021: £60,000; 2020: £180,000). Covid Business Support Grants stopped in 2022 (£2,667; 2021: £24,840; 2020: £22,349) and no Covid Job Retention Scheme Grants were received in 2022 (2021: £12,862; 2020: £42,888). Restricted grants totalling £105,703 (2021: £29,953 were received in 2022. The 2022 grants included £94,935 from the Museum Estate & Development Fund to finance essential sewerage works which would be carried out in 2023. Excluding irrecoverable VAT, the cost of operating the house and gardens increased by 22% in 2022 to £438,425 compared with £358,515 in 2021. Employee costs rose by 34% (2022: £287,762; 2021: £214,791; 2020: £182,399; 2019: £177,043; 2018: £153,760; 2017: £159,285; 2016: £142,422) though there were the more employees. Governance and Support Costs of the Charity increased by 9% to £83,246 from £76,390 in 2021 (2020: £68,707; 2019: £78,096; 2018: £71,274) partly due to an Estate Management Plan report (£3.065) and Estate Workers training courses (£2,080).
The net result was a decrease in overall funds of £40,400 (2021: decrease £58,649; 2020: increase £258,853, 2019: increase £182,415; 2018: decrease £88,428; 2017: increase £11,091; 2016: increase £228,410) made up by an decrease in Unrestricted funds of £46,431 (2021: £52,328); 2020 increase £90,132 (2019: decrease £46,947; 2018: decrease £46,685; 2017: decrease £77,582; 2016: increase £37,149), an increase in Restricted funds of £86,658 (2021: decrease £6,321; 2020: increase £126,229; 2019: increase £141,788; 2018: decrease £10,157; 2017: increase £5,267; 2016: increase £183,097), and an increase in the Endowment fund of £173 (2021: £nil; 2020: increase £42,492; 2019: increase £87,574; 2018: decrease £6,586; 2017: increase £83,406; 2016: increase £38,164). The Endowment fund’s bank accounts of £161,574 are included in Investments in the Balance Sheet.
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BRANTWOOD TRUST
MANAGEMENT TRUSTEES’ ANNUAL REPORT (continued) Financial Information (continued)
Due to the Charity’s objective of maintaining the house and gardens of Brantwood, it is necessary to build up reserves as much as possible so that the Charity is less reliant on large donations and grants. Major projects undertaken at Brantwood have been financed from grants, donations and loans (with no fixed terms of repayment or interest) for those purposes. Once major projects have been completed, it is necessary to continue to maintain them (despite the grants having been used up). Therefore, further increases in reserves are necessary.
The Management Trustees have assessed the major risks to which the Charity is exposed, those related to its operations and finances, and are satisfied that systems are in place to mitigate the exposure to the major risks.
Heritage Assets Management Policy
Brantwood maintains a collection of artefacts, pictures and literature related to John Ruskin. Most of them are on display, while the remainder are held in the archives being maintained as necessary.
Acquisitions are made by purchase or donation. Very rarely, Brantwood disposes of objects from the collection in order to fund new acquisitions where the Management Trustees determine that this does not detract from the integrity of the collection.
The Charity maintains a register for its collection of heritage assets which records the nature, provenance and current location of each asset. The exhibits are managed by the Collection Manager who reports to the Charity's Director. The Director ensures that the exhibits are managed in accordance with policies approved by the Trustees.
Management Trustees
The names of Management Trustees are stated in the Charity Information attached to this Report. The Trustee of the Charity is the Education Trust Ltd.
Staff
The Charity employs staff to care for the exhibits and grounds at Brantwood. In addition, volunteers are used to steward the house. Mr Howard Hull is the Director.
Voluntary Assistance
Some voluntary assistance is received by the Charity especially from the Friends of Brantwood.
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BRANTWOOD TRUST
MANAGEMENT TRUSTEES’ ANNUAL REPORT (continued)
Connected Charities
Education Trust Limited (Registered number 9049R under the Co-operative & Community Societies Act 2014) is the Trustee of Brantwood Trust and appoints its Management Trustees.
Some of the Management Trustees of Brantwood Trust are also Directors of Education Trust Limited (Registered number 9049R under the Co-operative & Community Societies Act 2014).
By order of the Board of Management Trustees
Charlotte J G Robins Chair
……………….. 2023
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BRANTWOOD TRUST
STATEMENT OF MANAGEMENT TRUSTEES` RESPONSIBILITIES
The management trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the management trustees to prepare financial statements for each financial year which 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 period. In preparing financial statements the managerment 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 2015 (FRS102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable trust will continue in operation.
The management trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charitable trust and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and trust deed. They are responsible for safeguarding the assets of the charitable trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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BRANTWOOD TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRANTWOOD TRUST
We report on our examination of the accounts of Brantwood Trust for the year ended 31 December 2022.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the "Act") and that an independent examination is needed. The charity’s gross income exceeded £250,000 and we are qualified to undertake the examination under section 145 of the Act by being a qualified member of the Institute of Chartered Accountants in England & Wales.
It is our responsibility to:
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examine the accounts under section 145 of the Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 14(5)(b) of the Act; and
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state whether particular matters have come to our attention.
Basis of independent examiner's statement
Our examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to our attention which give us cause to believe that, in material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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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.
Ian R Dalzell MA FCA on behalf of IAN DALZELL LTD Chartered Accountants Broughton Lodge Mews Field Broughton Grange-over-Sands Cumbria LA11 6HL
…........................... 2023
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BRANTWOOD TRUST STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2022
| Unrestricted | Restricted | Endowment | Total | Unrestricted | Restricted | Endowment | Total | ||
|---|---|---|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Fund | Funds | Funds | Fund | |||
| 2022 | 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | 2021 | ||
| £ | £ | £ | £ | £ | £ | £ | £ | ||
| Income and Endowments from: | |||||||||
| Donations, Grants & Legacies | 2 | 214,299 | 105,703 | - | 320,002 | 126,547 | 29,953 | - | 156,500 |
| Charitable Activities | |||||||||
| House & Garden Admission Charges | 140,720 | 140,720 | 109,234 | 109,234 | |||||
| Takings from Events & Courses | 3 | 6,483 | 6,483 | 5,794 | 5,794 | ||||
| Other Trading Activities | |||||||||
| Ground & Building Rents | 14,014 | 14,014 | 20,780 | 20,780 | |||||
| Sales of Merchandise | 4 | 45,329 | 45,329 | 39,176 | 39,176 | ||||
| Accommodation Receipts | 4 | 70,362 | 70,362 | 73,677 | 73,677 | ||||
| Investment Income | 5 | 20 | 173 | 193 | 3 | - | 3 | ||
| Total Income | 491,227 | 105,703 | 173 | 597,103 | 375,211 | 29,953 | - | 405,164 | |
| Expenditure on: | |||||||||
| Costs of Raising Funds: | |||||||||
| Costs Relating to Merchandise Sold | 4 | (20,354) | (20,354) | (17,429) | (17,429) | ||||
| Charitable Activities: | |||||||||
| Cost of Operating House & Gardens | 6 | (508,366) | (16,834) | (525,200) | (404,298) | (35,740) | (440,038) | ||
| Artistes' Fees & Events Expenses | 3 | (8,938) | (2,211) | (11,149) | (5,812) | (534) | (6,346) | ||
| Total Expenditure | (537,658) | (19,045) | - | (556,703) | (427,539) | (36,274) | - | (463,813) | |
| Net Income/(Expenditure) before | (46,431) | 86,658 | 173 | 40,400 | (52,328) | (6,321) | - | (58,649) | |
| before Gains/Losses on Investments | |||||||||
| Net Gains/(Losses) on Investment Assets: | |||||||||
| Realised | 9 | - | - | - | - | ||||
| Unrealised | 9 | - | - | - | - | ||||
| Net Income/(Expenditure) | (46,431) | 86,658 | 173 | 40,400 | (52,328) | (6,321) | - | (58,649) | |
| Transfers between Funds | - | - | - | - | |||||
| Net Movement in Funds | (46,431) | 86,658 | 173 | 40,400 | (52,328) | (6,321) | - | (58,649) | |
| Reconciliation of Funds | |||||||||
| Fund Balances brought forward | 345,624 | 734,134 | 671,336 | 1,751,094 | 397,952 | 740,455 | 671,336 | 1,809,743 | |
| Fund Balances carried forward | 299,193 | 820,792 | 671,509 | 1,791,494 | 345,624 | 734,134 | 671,336 | 1,751,094 |
The attached Notes form part of these financial statements
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BRANTWOOD TRUST BALANCE SHEET as at 31 December 2022
| BRANTWOOD TRUST BALANCE SHEET as at 31 December 2022 |
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|---|---|---|---|
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Fixed Assets | |||
| Tangible Fixed Assets | 8 | 1,438,534 | 1,400,667 |
| Investments | 9 | 161,575 | 161,402 |
| __ | __ | ||
| Total Fixed Assets | 1,600,109 | 1,562,069 | |
| ======= | ======= | ||
| Current Assets | |||
| Stocks | 10 | 16,011 | 18,089 |
| Debtors | 11 | 167,578 | 141,953 |
| Cash at Bank and in Hand | 12 | 77,029 | 59,334 |
| __ | __ | ||
| Total Current Assets | 260,618 | 219,376 | |
| Creditors : Amounts falling due within one year | 13 | (64,059) | (30,351) |
| __ | __ | ||
| Net Current Assets/(Liabilities) | 196,559 | 189,025 | |
| ======= | ======= | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,796,668 | 1,751,094 | |
| Creditors : Amounts falling due after one year | 14 | (5,174) | - |
| __ | __ | ||
| TOTAL ASSETS LESS LIABILITIES | 1,791,494 | 1,751,094 | |
| ======= | ======= | ||
| Charity Funds | |||
| Unrestricted Funds | 15 | 299,193 | 345,624 |
| Restricted Funds | 16 | 820,792 | 734,134 |
| Endowment Fund | 17 | 671,509 | 671,336 |
| __ | __ | ||
| TOTAL CHARITY FUNDS | 18 | 1,791,494 | 1,751,094 |
| ======= | ======= | ||
| Approved by the Board of Management Trustees on | ….................... 2023 | - | - |
| and signed on its behalf by : |
Charlotte J G Robins Chair of Management Trustees
The attached Notes form part of these financial statements
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BRANTWOOD TRUST CASH FLOW STATEMENT for the year ended 31 December 2022
| BRANTWOOD TRUST CASH FLOW STATEMENT for the year ended 31 December 2022 |
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|---|---|---|---|
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Net Cash Outflow from Operating Activities | 18 | (245,570) | (201,955) |
| ====== | ====== | ||
| Returns on Investments and Servicing of Finance : | |||
| Bank Interest Received | 20 | 3 | |
| Investment Income Received | 173 | - | |
| Bank Interest Paid | (86) | - | |
| _ | _ | ||
| Net Cash Inflow from Returns on Investments and | |||
| Servicing of Finance | 107 | 3 | |
| ====== | ====== | ||
| Capital Expenditure & Financial Investment : | |||
| Payments to Acquire Tangible Fixed Assets | (57,239) | (33,996) | |
| Receipts from Sales of Tangible Fixed Assets | - | - | |
| Receipts from Sales of Fixed Asset Investments | - | - | |
| Receipts from Sales of Fixed Asset Investments (Bank) | (173) | - | |
| Movement in Trading Subsidiary Indebtedness | (25,574) | 22,033 | |
| Net Movement in Cashflows attributable to | |||
| Endowment Fund | - | - | |
| _ | _ | ||
| Net Cash Outflow from Investing Activities | (82,986) | (11,963) | |
| ====== | ====== | ||
| Net Cash Outflow before Financing | (328,449) | (213,915) | |
| ====== | ====== | ||
| Financing : | |||
| Donations & Grants Received | 320,002 | 156,500 | |
| Hire Purchase Loan Incurred | 8,675 | ||
| Hire Purchase Loan Repayments | (676) | ||
| Net Movement in Cashflows attributable to | |||
| Endowment Fund | - | - | |
| _ | _ | ||
| Net Cash Inflow from Financing | 328,001 | 156,500 | |
| ====== | ====== | ||
| Increase/(Decrease) in Cash & Cash Equivalents | 19 | (448) | (57,415) |
| ====== | ====== | ||
| - | - |
The attached Notes form part of these financial statements
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BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022
1. Summary of Significant Accounting Policies
General Information and Basis of Preparation
The Charity was formed by an Order of the High Court dated 10 July 1951. The Education Trust Ltd is the Trustee of the Charity and appoints Management Trustees. The address of the registered office is given in the Charity Information on page 3 of this Annual Report. The objectives and nature of the charity's operations and principal activities are described in the Trustees Annual Report.
The Charity constitutes a public benefit entity as defined by FRS102.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2015) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act 2011 and UK Generally Accepted Practice.
The financial statements have been prepared on a going concern basis under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these Financial Statements. The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The financial statements do not consolidate the results of the charity and its wholly owned subsidiary Brantwood Trust Enterprises Ltd because The Charities Act 2011 (as amended by the Charities Act 2011 (Group Accounts) Regulations 2015 (SI2015/322)) has raised the limit of gross income from £500,000 to £1 million.
a) Fund Accounting
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds represent those assets which must be held permanently by the Charity, principally investments. Income and capital gains arising on the endowment funds can be used in accordance with the objects of the Charity and are periodically transferred to unrestricted funds. Investment management charges and legal advice relating to the fund are charged against the fund.
b) Income
All income resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.
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BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
1. Accounting Policies (continued)
- b) Income (continued)
Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers (in line with the SORP (FRS102)).
For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the Charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the Charity’s right to receive payment is established.
c) Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the headings shown in the SOFA.
Governance and Support Costs comprise costs which assist the work of the Charity but do not directly represent charitable activities and include office and travel costs, director's payroll costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity. Where governance and support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities. The costs are disclosed as a separate note because the management of the Charity exerts budgetary control over these costs and not on any basis of allocation. Although some support costs relate to raising restricted donations and grants, they are not allocated against those designated funds or projects.
d) Tangible Fixed Assets & Heritage Assets
Land & Buildings
The land and buildings which comprise the Brantwood estate include the main building and outbuildings, gardens and woodland. The house was built in the late 18th century and had many distinguished owners. Perhaps the most was John Ruskin who purchased it in 1871, made many additions and alterations, and occupied it until his death in 1900. Ruskin also developed the grounds of 250 acres into gardens and woodlands.
The estate and buildings thereon were purchased by J H Whitehouse in the 1930s and he helped to form the Charity in 1951 to care for the property in perpetuity. The property was transferred by a Deed of Appointment dated 28 May 1952 to the trust of The Education Trust Limited (a connected Charity of Brantwood Trust which appoints its Management Trustees). The Education Trust Limited has resolved that it is appropriate for Brantwood Trust to treat the estate and buildings as it own.
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BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
1. Accounting Policies (continued)
- d) Tangible Fixed Assets & Heritage Assets (continued)
Land & Buildings (continued)
The cost of major additions to buildings and the grounds are capitalised in the Balance Sheet. The Charity aims to maintain the property and estate in a steady state of repair. Therefore, no depreciation is charged. The costs of maintenance are charged to the Statement of Financial Activities when incurred.
Exhibits
The Charity has a collection of artefacts, pictures and literature related to John Ruskin which are held in support of the Charity's primary objective of increasing knowledge, understanding and appreciation of John Ruskin.
The Charity's collection of artefacts, pictures and literature is reported in the Balance Sheet at market value or cost (where the acquisition was made after a valuation). Valuations are made by professional valuers (Lyon & Turnbull). Gains and gains and losses on revaluation are recognised in the Statement of Financial Activities. A valuation of the exhibits was carried out in 2009 and this revaluation, plus the cost of additions thereafter is included in the financial statements. Previously, additions to Exhibits prior to 1 January 1990 were not capitalised and from that date additions costing more than £500 have been capitalised.
It is the Charity's policy to maintain and preserve its collection of artefacts, pictures and literature in good order. These costs are charged to the Statement of Financial Activities when incurred. Items in the collection of artefacts, pictures and literature are deemed to have indeterminate lives and the Management Trustees do not consider it appropriate to charge depreciation.
Acquisitions are made by purchase or donation. Purchases are initially recorded at cost and donations are recorded at current value ascertained by the Charity's curators with reference, where possible, to commercial markets using recent transaction information from auctions.
The Charity's management policy in respect of heritage assets is summarised in the Trustees' Report
The Charity also exhibits some items relating to John Ruskin which are loaned from other collections of artefacts, pictures and literature. These items are not accounted for in the financial statements of the Charity.
Preservation and Conservation Costs
Expenditure which, in the Management Trustees' view, is required to preserve or prevent further deterioration of individual items, including preservation work on land and buildings, is recognised in the Statement of Financial Activities when it is incurred.
- e) Depreciation is provided on certain tangible fixed assets so as to write off the cost less scrap value over their estimated useful lives. The following rates and methods are used :
Fixtures, Fittings, Equipment & Serwerage Works - 15% per annum reducing balance Computer Equipment - 33.3% per annum straight line
Due to ongoing maintenance and their particular historic importance, the valuation of buildings and exhibits is not expected to fall. Therefore, the costs associated with the buildings and exhibits are not depreciated.
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f) All Investments are stated at market value. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.
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g) Foreign Currencies. Transactions in foreign currencies are translated into sterling at the rate ruling at the date the transaction is settled.
-
h) Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
15
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
1. Accounting Policies (continued)
-
i) Pension Scheme. The Charity operates a defined contribution pension scheme for certain employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension charge represents contributions payable by the Charity to the scheme.
-
j) Leases & Hire Purchase Obligations Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. Interest on finance leases and hire purchase obligations is charged to the profit and loss account over the period of the agreement and represents a constant proportion of the balance of capital repayments outstanding. Rentals on operating leases are charged directly to the profit and loss account in the period they are incurred.
-
k) Value Added Tax. Since 01/01/2016 the Charity has only been able to claim Input Tax using the "partial exemption" rules. This is because it has been agreed with HMRC that Admission Fees and Education Courses Income are exempt from VAT. The irrecoverable VAT on additions to tangible fixed assets is added to the cost of those additions. Irrecoverable VAT on expenses has been allocated to the cost of operating the house and gardens as this is the major area where it arises.
-
l) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
-
m) Going Concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
16
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
| 2. | Donations, Grants & Legacies Received | 2022 | 2021 |
|---|---|---|---|
| a) | Unrestricted : |
£ | £ |
| Education Trust (for Cash Flow) | 202,000 | 60,000 | |
| SLDC Covid Business Support Grants | 2,667 | 24,840 | |
| Covid Job Retention Scheme | - | 12,862 | |
| Gift Aid received | 8,641 | 10,379 | |
| Friends of Brantwood | - | 12,567 | |
| Visitors & Others (including Bequest 2021: £5,000) | 991 | 5,899 | |
| _ | _ | ||
| 214,299 | 126,547 | ||
| ====== | ====== | ||
| b) | Restricted : |
||
| Arts Council for England (Covid Culture Recovery Fund) | - | 22,140 | |
| Friends of Brantwood (Exhibits) | - | 7,433 | |
| R Hewison (for Exhibit) | 250 | - | |
| C Simon (for Exhibit) | 500 | - | |
| S Walker (for Exhibit) | 250 | - | |
| J H Whitehouse Estate (for Exhibit) | 3,000 | - | |
| Victoria & Albert Museum (for Exhibit) | 4,000 | - | |
| Keswick to Barrow Walk (for Defribillator) (purchased 2023) | 1,600 | - | |
| Individuals (for Learning Loft Project) inc Gift Aid | - | 380 | |
| Friends of Brantwood (for Learning Loft Project) | 1,168 | ||
| Museum Estate and Development Fund Grant (for Sewerage Works) | 94,935 | - | |
| _ | _ | ||
| 105,703 | 29,953 | ||
| ====== | ====== | ||
| c) | Total Donations and Grants Received | 320,002 | 156,500 |
| ====== | ====== | ||
| 3. | Events & Courses | 2022 | 2021 |
| £ | £ | ||
| Takings | 6,483 | 5,794 | |
| Artistes' Fees & Events Expenses | (6,244) | (5,812) | |
| _ | _ | ||
| Gross Deficit/(Surplus) | 239 | (18) | |
| ====== | ====== | ||
| Learning Loft Project Costs (funded by Grants) | (2,211) | (534) | |
| Learning Loft Project Costs (not funded by Grants) | (2,694) | ||
| _ | _ | ||
| (4,905) | (534) | ||
| ====== | ====== |
17
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
| 4. | Trading Operations | 2022 | 2021 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| a) | Sales of Books, Prints, Gifts & Garden Produce | 45,329 | 39,176 | ||
| Cost of Sales | (20,354) | (17,429) | |||
| _ | _ | ||||
| Gross Profit | 55.1% | 24,975 | 55.5% | 21,747 | |
| ====== | ====== | ||||
| 5. | Investment Income | 2022 | 2021 | ||
| £ | £ | ||||
| Bank Interest Received (from Unrestricted Funds) | 20 | 3 | |||
| Dividends & Interest on Investments (from Endowment Funds) | 173 | - | |||
| _ | _ | ||||
| 193 | 3 | ||||
| ====== | ====== | ||||
| 6. | Cost of Operating House & Gardens | 2022 | 2021 | ||
| £ | £ | ||||
| Employees' Salaries & NIC | 259,902 | 201,780 | |||
| Employer's NIC | 16,447 | 9,719 | |||
| Employer's Pension Contributions | 11,413 | 3,292 | |||
| Garden and Building Repairs Sub-Contractors | 10,066 | 11,514 | |||
| Volunteers' Expenses | 2,291 | 1,824 | |||
| Marketing & Publicity | 12,258 | 11,746 | |||
| Project Development - Natural Connections | 6,366 | 2,495 | |||
| Commission on Admissions | 3,907 | 3,396 | |||
| Heat & Light | 24,819 | 17,287 | |||
| Rent of Pier, Rates & Water Charges | 2,633 | 2,007 | |||
| Insurance & Security | 23,478 | 15,827 | |||
| Cleaning & Laundry | 7,009 | 5,255 | |||
| Rented Accommodation Costs | 7,481 | 8,990 | |||
| Repairs, Renewals & Equipment Hire | 13,319 | 31,527 | |||
| Estate & Garden Expenses | 13,253 | 7,284 | |||
| Equipment Depreciation | 19,372 | 16,791 | |||
| Artefacts Repairs, Exhibitions Renewals & Materials | 4,411 | 7,781 | |||
| Irrecoverable VAT | 3,349 | 5,133 | |||
| _ | _ | ||||
| 441,774 | 363,648 | ||||
| Governance & Support Costs (see Note 7) | 83,426 | 76,390 | |||
| _ | _ | ||||
| 525,200 | 440,038 | ||||
| ====== | ====== | ||||
| a) | The average number of employees (including Director) during the year was: | 18 | 15 |
b) No employees earned more than £60,000
18
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
| 7. | Governance & Support Costs | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Director's Salary & NIC | 39,164 | 37,779 | |
| Employer's NIC | 4,441 | 3,463 | |
| Employer's Pension Contributions | 4,000 | 4,000 | |
| Director's Accommodation Costs | 2,050 | 2,178 | |
| Telecommunications | 5,164 | 6,123 | |
| Subscriptions, Licences, Staff Training & Courses | 9,384 | 2,365 | |
| Job Advertising & Staff Hiring Costs | 63 | 2,020 | |
| Computer Consultancy & Maintenance | 7,339 | 8,816 | |
| General Office & Sundry Expenses | 4,949 | 3,256 | |
| Credit Card Charges | 2,500 | 2,229 | |
| Bank Charges | 426 | 204 | |
| Bank Interest | 86 | - | |
| Hire Purchase Interest | 149 | - | |
| Motor & Travelling Expenses | 1,711 | 2,111 | |
| Trustees' Expenses | - | - | |
| Independent Examiners Fees | 2,000 | 1,846 | |
| _ | _ | ||
| 83,426 | 76,390 | ||
| ====== | ====== |
19
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
8. Fixed Tangible Assets comprise :
| Fixed Tangible Assetscomprise : | |||||
|---|---|---|---|---|---|
| Buildings | Grounds & | Exhibits | Fixtures, | Total | |
| Sewerage | Fittings & | ||||
| Plant | Equipment | ||||
| £ | £ | £ | £ |
£ | |
| Cost & Valuations : | |||||
| At Start adjusted | 671,331 | 167,208 | 503,956 | 336,391 | 1,678,886 |
| Disposals at cost | - | - | - | - |
- |
| Additions at cost | 9,054 | 27,223 | 8,000 | 12,962 | 57,239 |
| _ | _ | _ | _ | _ | |
| At End | 680,385 | 194,431 | 511,956 | 349,353 | 1,736,125 |
| ====== | ====== | ====== | ====== |
====== | |
| Aggregate Depreciation : | |||||
| To Start | - | 2,906 | - | 275,313 |
278,219 |
| Eliminated in respect of Disposals | - | - | - | - |
- |
| Charge for year | - | 4,608 | - | 14,764 |
19,372 |
| _ | _ | _ | _ | _ | |
| To End | - | 7,514 | - | 290,077 |
297,591 |
| ====== | ====== | ====== | ====== |
====== | |
| Net Book Value : | |||||
| At Start | 671,331 | 167,208 | 503,956 | 61,078 | 1,400,667 |
| ====== | ====== | ====== | ====== |
====== | |
| At End | 680,385 | 186,917 | 511,956 | 59,276 | 1,438,534 |
| ====== | ====== | ====== | ====== |
====== |
As stated in Note 1d), the land and buildings are treated as assets of Brantwood Trust. The original acquisition does not have a historical cost and, due to its historic nature and background (and listed status) as a heritage asset.
Five year financial summary of heritage (exhibits) asset transactions:
| Five year financial summary of heritage (exhibits) asset | transactions: |
|---|---|
| Cost or Valuation At start of year Additions Donations Revaluation surplus Disposals At end of year |
2022 2021 2020 2019 2018 £ £ £ £ £ 504,333 496,900 469,881 354,710 353,710 8,000 7,433 27,019 115,171 1,000 - - - - - - - - - - - - - - - |
| 512,333 504,333 496,900 469,881 354,710 |
The exhibits were revalued in Summer 2009 by professional valuers (Lyon & Turnbull) at £338,120. The revaluation surplus was added to the Endowment Fund.
| surplus was added to the Endowment Fund. | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | 2020 | 2019 | 2018 | |
| Additions at cost since the valuation: | £ | £ | £ | £ | £ |
| Painting of W G Collingwood | 8,000 | ||||
| Furniture for House | 7,433 | ||||
| Geology Collection | 27,019 | 114,763 | |||
| Books | 408 | ||||
| Paintings for House | 1,000 |
No disposals have taken place since the valuation.
The above information relates only to transactions in artefacts, pictures and literature.
20
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
9. Fixed Tangible Investments comprise :
| F |
ixed Tangible Investmentscomprise : 2022 2021 £ £ Listed Investment Trusts & Shares : Cost at Start - - Unrealised Gains to Start - - _ _ Market Value at Start - - Additions at Cost Disposal Proceeds - - Realised Gains/(Losses) in Year - - Unrealised Gains/(Losses) in Year - - _ _ Market Value at End - - ====== ====== Bank Deposit 161,574 161,401 ====== ====== Total Cost at End 161,574 161,401 ======= ======= Total Market Value at End 161,574 161,401 ======= ======= Unlisted Shares: Investment in Subsidiary 1 1 ======= ======= |
|---|---|
The Charity owns all the share capital of a trading subsidiary company which operates the restaurant at Brantwood. Brantwood Trust Enterprises Ltd - registered in England number 09397946.
The accounts of the subsidiary are not consolidated into these accounts because the gross income of the charity and subsidiary is less than £1million.
| **10. ** | Stockscomprise : | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Books | 7,966 | 9,217 | |
| Gifts & Post Cards | 8,045 | 8,872 | |
| _ | _ | ||
| 16,011 | 18,089 | ||
| ====== | ====== | ||
| **11. ** | Debtorscomprise : | 2022 | 2021 |
| £ | £ | ||
| Trade Debtors | 960 | 66 | |
| Other Debtors : | |||
| Gift Aid Due | - | 1,398 | |
| VAT Refund Due | 4,522 | 4,094 | |
| Trading Subsidiary | 159,922 | 134,348 | |
| Prepayments | 2,174 | 2,047 | |
| _ | _ | ||
| 167,578 | 141,953 | ||
| ====== | ====== |
21
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
| **12. ** | Cash at Bank and in Handcomprises : | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Managers` Accounts | 74,237 | 56,475 | |
| Cash | 2,792 | 2,859 | |
| _ | _ | ||
| 77,029 | 59,334 | ||
| ====== | ====== | ||
| **13. ** | Creditors : Amounts falling due within one yearcomprise : | 2022 | 2021 |
| £ | £ | ||
| Bank Overdraft - Managers` Account & Credit Card | 18,143 | - | |
| Trade Creditors | 21,277 | 12,074 | |
| Deposits Received for Wedding Bookings & Concerts | 7,980 | 6,483 | |
| Loan from Education Trust for Cash Flow Purposes | - | - | |
| Rents Received in Advance | - | 2,227 | |
| Monies Collected for Friends of Brantwood | 1,465 | 235 | |
| Other Creditors : | |||
| PAYE & NIC | 7,487 | 6,296 | |
| VAT | 1,258 | - | |
| Accruals | 3,624 | 3,036 | |
| Amounts due on Hire Purchase Agreement (due within one year) | 2,825 | - | |
| _ | _ | ||
| 64,059 | 30,351 | ||
| ====== | ====== |
The Loans from Bowland Charitable Trust and Education Trust had no fixed term for repayment and are interest free.
| **14. ** | Creditors : Amounts falling due after one yearcomprise : | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Amounts due on Hire Purchase Agreement (due within 5 years) | 5,174 | - | |
| _ | _ | ||
| 5,174 | - | ||
| ====== | ====== | ||
| **15. ** | Unrestricted Funds | 2022 | 2021 |
| £ | £ | ||
| Balance at Start | 345,624 | 397,952 | |
| Movement in funds for the year | (46,431) | (52,328) | |
| _ | _ | ||
| Balance at End | 299,193 | 345,624 | |
| ====== | ====== |
22
BRANTWOOD TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
16. Restricted Funds
| Restricted Funds | ||||||
|---|---|---|---|---|---|---|
| Grounds & | ||||||
| Sewerage | ||||||
| Buildings | Plant | Exhibits | Equipment | Projects | Total | |
| £ | £ | £ | £ | £ | £ | |
| At 31-12-20 | 314,336 | 86,366 | 165,952 | 51,576 | 122,225 | 740,455 |
| Grants & Donations received in 2021 | 29,953 | 29,953 | ||||
| Costs Incurred | 10,798 | - | 7,433 | - | (42,352) | (24,121) |
| Depreciation | (12,153) | (12,153) | ||||
| _ | _ | _ | _ | _ | _ | |
| At 31-12-21 | 325,134 | 86,366 | 173,385 | 39,423 | 109,826 | 734,134 |
| Grants & Donations received in 2022 | 105,703 | 105,703 | ||||
| Costs Incurred | - | 26,803 | 8,000 | - | (43,524) | (8,721) |
| Depreciation | (4,020) | (6,304) | (10,324) | |||
| _ | _ | _ | _ | _ | _ | |
| At 31-12-22 | 325,134 | 109,149 | 181,385 | 33,119 | 172,005 | 820,792 |
| ====== | ====== | ====== | ====== | ====== | ====== |
The Buildings, Grounds and Exhibits Funds arise from grants and donations to the Charity which have enabled it to make major alterations to the buildings or grounds at Brantwood or purchase exhibits for Brantwood.
The Equipment Fund arises from grants and donations to the Charity which are used to purchase equipment and motor vehicles for use by the Charity. This equipment and vehicles are depreciated and a transfer is made from the Fund each year to Unrestricted Funds so as to write off the Fund balance at the same rate as the underlying assets.
The Projects Fund arises from grants and donations to the Charity for specific purposes. When these purposes have been fulfilled (including incurring costs and expenses), the funds are transferred to Unrestricted Funds so as to reduce the costs and expenses incurred by that Fund for that purpose.
Grants received which have not yet been fully spent are as follows (shown above as carried forward in Projects):
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bio-Dynamic Gardening Group | - | 144 | |
| Learning Loft | - | 1,043 | |
| Natural Connection | 1,441 | 7,807 | |
| Building Conservation | 100 | 100 | |
| Sewerage Work | 68,132 | - | |
| Defibrillator | 1,600 | - | |
| Arts Council Recovery Fund | 100,732 | 100,732 | |
| __ | __ | ||
| 172,005 | 109,826 | ||
| ======= | ======= | ||
| **17. ** | Endowment Fund | 2022 | 2021 |
| £ | £ | ||
| Balance at Start | 671,336 | 671,336 | |
| Surplus for Year on Income | 173 | - | |
| Realised Gain/(Loss) on Disposals of Investments in year | - | - | |
| Unrealised (Deficit)/Surplus for year on Investments | - | - | |
| Transfer to Unrestricted Funds | - | - | |
| __ | __ | ||
| 671,509 | 671,336 | ||
| ======= | ======= |
23
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
18. Analysis of Net Assets between Funds
| **18. ** | Analysis of Net Assets between Funds | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||
| Funds | Funds | Fund | Funds | ||
| £ | £ | £ | £ | ||
| Tangible Fixed Assets | 304,291 | 624,308 | 509,935 | 1,438,534 | |
| Tangible Investment Assets | 1 | - | 161,574 | 161,575 | |
| Cash at Bank and in Hand | 25,767 | 33,119 | - | 58,886 | |
| Other Current Assets | 183,589 | - | - | 183,589 | |
| Current Liabilities | (45,916) | - | - | (45,916) | |
| Longer Term Liabilities | (5,174) | (5,174) | |||
| _ | _ | _ | _ | ||
| 462,558 | 657,427 | 671,509 | 1,791,494 | ||
| ====== | ====== | ====== | ====== | ||
| **19. ** | Net Cash Inflow/(Outflow) from Operating Activities | 2022 | 2021 | ||
| £ | £ | ||||
| Net Incoming Resources | 40,400 | (58,649) | |||
| Depreciation | 19,372 | 16,791 | |||
| (Increase)/Decrease in Stocks | 2,078 | 2,900 | |||
| (Increase) in Debtors | (51) | 214 | |||
| Increase/(Decrease) in Creditors | 12,740 | (6,708) | |||
| Investment Income | (193) | (3) | |||
| Donations & Grants Received | (320,002) | (156,500) | |||
| Bank Interest Paid | 86 | - | |||
| _ | _ | ||||
| Net Cash (Outflow) from Operating Activities | (245,570) | (201,955) | |||
| ====== | ====== | ||||
| **20. ** | Cash & Cash Equivalents | 2022 | 2021 | ||
| £ | £ | ||||
| a) | Endowment Fund (see also Note 9) | ||||
| Balance at Start | - | - | |||
| Net Cash Inflow/(Outflow) in year | - | - | |||
| _ | _ | ||||
| Balance at End | - | - | |||
| ====== | ====== | ||||
| b) | Managers & Café Accounts | ||||
| Balances at Start | 56,475 | 115,448 | |||
| Net Cash Inflow/(Outflow) in year | (381) | (58,973) | |||
| _ | _ | ||||
| Balances at End | 56,094 | 56,475 | |||
| ====== | ====== | ||||
| c) | Cash | ||||
| Balance at Start | 2,859 | 1,301 | |||
| Net Cash Inflow/(Outflow) in year | (67) | 1,558 | |||
| _ | _ | ||||
| Balance at End | 2,792 | 2,859 | |||
| ====== | ====== | ||||
| d) | Total | ||||
| Balance at Start | 59,334 | 116,749 | |||
| Net Cash Inflow/(Outflow) in year | (448) | (57,415) | |||
| _ | _ | ||||
| Balance at End | 58,886 | 59,334 | |||
| ====== | ====== |
24
BRANTWOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022
21. Transactions with Trustees and Connected Persons
The Management Trustees neither received nor waived any remuneration during the year (2021: £nil).
The Charity did not pay for accommodation or travel for Management Trustees attending trustees' meetings.
22. Connected Charities
The following Charity is the Trustee of Brantwood and appoints its Management Trustees. Some of the directors are also Management Trustees of Brantwood :
Education Trust Limited
23. Other Work by Independent Examiner
In common with many other entities of our size and nature we use our independent examiner to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. When required, they also install, maintain and instruct us in the use of book-keeping and payroll computer software and also perform relief book-keeping services. They also assist in the appointment of book-keeping staff.
25