THE BROOKES MEMORIAL FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 9 OCTOBER 2024

THE BROOKES MEMORIAL FUND
YEAR ENDED 90CTOBER 2024
INDEX
Page
Trustees, Annual Report
Independent Examiner's Report
Receipts and Payments Account
Statement of Assets and Liabilities
Notes to the Accounts
Schedule of investments

THE BROOKES MEMORIAL FUND
TRUSTEES, ANNUAL REPORT
FOR THEYEAR ENDED 9 OCTOBER2024
The Brookes Memorial Fund, 1-3, College Yard, Worcester WRI 2LB 15 registered with the
Charity Commission Ino. 511101) and constituted by Deed of Trust dated 9 October 1980.
The financial statement5 have been prepared in accordance with the accounting policies
set out in note I to the accounts, and comply with the governing document and applicable
The charity trustees during the year ended 9 October 2024 were..
M. Mylechreest
R. J. Wilkes
A. Wood
Trustees are eletted by the present or surviving trustees.
The charity's advisers during the year ended 9 Ottober 2024 were:
Solicitors
Hallmark Whatley Hulme LLP, 3-5 Sansome Place. Worcester,
WRI IUQ
Bryony Gaskell, 57 Geraldine Road, Malvern. Worcestershire,
WR14 3NU
Lloyds Bank plc, The Cross, Worcester, WRI 3PY
Canaccord Genuity Wealth Management, Princes Drive,
Worcester, WRI 2AB
Melissa Godwin ACCA ACA, The Richards Sandy Partnership
Limited, Chartered Certified Accountant5, Thorneloe House, 25
Barbourne Road, Worcester, WRI IRU
Administrator
Bankers
Stockbrokers
Independent Examiner
The object of the charity is to advance education by providing bursaries at independent
schools in Worcestershire for local children. The trustees confirm that they have referred
to the Charity Commission'5 general guidance on public benefit when reviewing the Fund's
aims and objectives and in planning future activities and Setting the grant making policy
for the year.
In accordance with the Trust Deed, award5 are made for one year only but will be
favourably reviewed for f uture years provided that parental circumstances have not
changed significantly and the student's progress is satisfactory.
Cash reserves of the Income Fund at the year end were £70,86712023- £59,208). The
trustees, policy is to retain sufficierbt reserves to cover grants awarded for the next 12
months and the potential renewal of those grants subject to renewal criteria for the
foreseeable future. The trustees, policy also includes retention of £20,000 earmarked for
unforeseen emergency cases.
Page 1

THE BROOKES MEMORIAL FUND
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 9 OCTOBER 2024
Revlew of Financial Actlvltles
The charity's income fund receipts amounted to £27,65712023 - £25,921}. Grants were
paid to 5 12023 - 61 students, amounting to £11,000 (2023 - £16,694) and administration
expenses of £4,99812023 - £4,974) were paid. Bank balances at 9 Ottober 2024 were
£70,86712023 - £59,208) on Income Fund and £6,071 (2023 - £10,036) on Capital Fund.
The Capital Fund investments had a market value of £592,575 at 9 October 202412023 -
£537,900). The activities of the charity remained unchanged and consistent with the
charity's objective5 throughout the year. There have been no changes in these activities
since the year end.
Investment Pollry
The Trustees have delegated the powers of investment management to Canaccord
Genuity Wealth Management. The objectives of the investment policy are to ensure the
creation of sufficient income and capital growth to enable the charity to carry out its
purposes consistently year by year with due and proper consideration for future needs
and the maintenance, and if possible, enhantement of the value of invested funds.
A. Wood
For and on behalf of the Trustees
Date..
Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE BROOKES MEMORIAL FUND
I report to the charity trustee5 on my examination of the accounts of the charity
for the year ended 9th October 2024 which are set out on pages 4 to 7.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in
3ccord3nce with requirements of the Charities Act 2011 ( the Act'l.
I report in respect of my examination of the charity's accounts under section 145
of the Art and in carrying out my examinatiion I have followed 311 the applicable
Directions given by the Charity Commission under section 14515)Ibl 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.,
l accounting records were not kept in respect of the charity as required by
section 130 of the Act," or
2 the accounts did not accord with those records.
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 account5 to be reached.
Melissa Godwln ACCA ACA
The Richards Sandy Partnership Limited
Chartered Certified Accountants
Thorneloe House
25 Barbourne Road
Worcester
WRI IRU
Page 3

THE BROOKES MEMORIAL FUND
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 9 OCTOBER 2024
2024
RESTRICTED
CAPITAL
FUND
2023
UNRESTRICTED
INCOME FUND
TOTAL
FUNDS
TOTAL
FUNDS
Receipt5
Investment income:
Dividend5 and interest from
listed investments
25,255
63
25,318
24,253
Bank and other deposit interest
2,402
2,402
1,727
Proceed5 of sale of investments
47,927
47,927
25,161
Total receipts
27,657
47,990
75,647
51,141
Payments
Direct charitable expenditure:
Grant5 to student5
11,000
11,000
16,694
Investment management charges
Administration
Independent Examination
Purchase of investments
8.856
8,856
4,500
498
43,099
6,404
4,500
474
17,744
4,500
498
43,099
Total payments
Net receipts/lpayments) for the year
15,998
51,955
67,953
45,816
11,659
(3,9651
7,694
5,325
Bank balances at 9 October 2023
59,208
10,036
69,244
63,919
Bank balances at 9 October 2024
70,867
6,071
76,938
69,244
Page 4

THE BROOKES MEMORIAL FUND
STATEMENT OF ASSETS AND LIABILITIES
ASATg OCTOBER2024
2024
RESTRICTED
CAP￿Al
FUND
2023
UNRESTRICTE
D INCOME
FUND
TOTAL
FUNDS
TOTAL
FUNDS
Cash and bank deposits:
Bank current account
Stockbroker deposit account
Charities deposit fund
21,728
550
48,589
21,728
6,621
48,589
13,022
10.036
46.186
6,071
70.867
6,071
76,938
69.244
Investment asset5:
Investments at market value15ee page 7}
592,575
592,575
537,900
Liabilitles:
Independent Examiner's fees
498
498
474
Approved on behalf of the Trustee5
'k114)_Tr k
M Mylechreest
Date:
Page 5

THE BROOKESMEMORIAL FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 9 OCTOBER2024
l Accounting policies
The accounts have been prepared under the receipts and payments basis in accordance
with the Statement of Recommended Practice and comply with the Charities Act 2011.
This basis is considered appropriate as receipts from the sale of investments do not form
part of the charitable income,
The investments have been valued at market value by Canaccord Genuity Wealth
Management, a firm authorised and regulated by the Financial Conduct Authority.
2 Funds
The Capital Fund represent5 the original capital of the charity. It is a restritted fund held
for investment purposes the income of which is to be used for the objects of the charity.
The Income Fund represents the unexpended income of the charity. It is an unrestricted
fund.
3 Trustees, Remuneration and Expenses
The charity employs no staff and duringthe year it was administered by B Gaskell on
behalf of the trustee5.
The trijstees were paid no remuneration and did not receive any reimbursed expenses
during the year {2023 Nil).
4 Related Party Transactlons
There are no related party transactions to report during this year or the preceding year.
Page 6

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