THE BROOKES MEMORIAL FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 9 OCTOBER 2025
THE BROOKES MEMORIAL FUND YEAR ENDED 9 ocfoBER 2025 INDEX Page Tru5tees' Annual Report Independent Examiner's Report Receipts and Payments Account Statement of Assets and Llabilities Notes to the Accounts Schedule of investments
THE BROOKES MEMORIAL FUND TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 9 ooBER 202S The Brooke5 Memorial Fund. 1-3, College Yard, Worcester WRI 2LB is registered with the Charity Commission Ino. 5111011 and constltuted by Deed of Trust dated 9 October 1980. The financial statements 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 law. The charity trustees during the year ended 9 ottober 2025 were- M. Mylechreest R. J. Wilkes A. Wood Trustees are elected by the present or surviving trustees. The charlty's advisers during the year ended 9 Ortober 2025 were.. Solicitors Hallmark Whatley Hulme LLP, 3-5 Sansome Place, Wortester, WRI IUQ Louise Ruane, Pear Tree Cottage. Yarrington Road, Alfrick. Worcestershire, WR6 SEX Lloyds Bank plc, The Cross, Worcester, WRI 3PY Canaceord Genuity Wealth Management. Princes Drive, Worcester, WRI 2A6 Melissa Godwin ACCA ACA, The Richards Sandy PartnershSp Limited, Chartered Certified Accountarits, Thorneloe House. 25 Barbourne Road, Worcester, WRI IRU Administrator Banker5 Stotkbrokers Independent Examiner The object of the tharity Is to advance educatlon by providing bursaries at independent schools in Worcestershire for loeal children. The trustees confirm that they have referred to the Charlty Commission's general guidance on public benefit when reviewing the Fund, aims and objectives and in planning future activities and settlng the grant makin8 policy for the year. In accordance with the Trust Deed. awards are made for one year only but will be favourably reviewed for future years provided that parental circumstances have not changed 5ignilicantly and the student's progress 15 satlsfactory. Cash reserves of the Income Fund at the year end were £74,71012024- £70,867). The trustees, polScy is to retaln sufficient 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 include5 retention of É20,000 earmarked for unforeseen emergency tases. Page 1
THE BROOKES MEMORIAL FUND TRUSTEES, ANNUAL REPORT FOR THEYEAR ENDED 9 OCTOBER 2025 Revlew of Finènclal Actlvltles The charity's income fund reteipts amounted to £28,38012024- £27,657). Grants were paid to 612024- 51 students, amounting to £19,51412024- £11,tKJOI and administration expenses of £5,02212024 . £4,998) were paid. Bank balances at 9 October 2025 were £74,71012024 - £70,867) on Income Fund and £31,94212024 - E6,0711 on Capital Fund. The Capital Fund investments had a market value of £586,917 at 9 October 202512024- £592,575). The actlvities of the charity remained unchanged and conslstent with the charity's objectives throughout the year. There have been no change5 in these activities since the year end. Investment Poll¢y 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 sufflcient income and capital growth to enable the charity to carry out its purposes con515tently year by year with due and proper consideration for future needs and the maintenance, and if p05sible, enhancement 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 trustees on my examination of the accounts of the charity for the year ended 9th October 2025 which are Set out on pa8es 4 to 7. Responsibllltles and basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with requirements of the Charities Act 20111"the Act"). I report in respect of my examination of the charitV'5 accounts under section 145 of the Act and in carrying out my examinatiion I have followed all the applicable Directlons given by the Charity Commission under section 14515llbl of the Act. Independent examiner'5 Statement have completed my examination. I ccnfirm that no material matters have come to my attention in connection wlth 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 atcord 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 accounts to be reached. Mellssa Godwln ACCA ACA The Richards Sandy Partnership Umlted Chartered Certified Accountant5 Thorneloe House 25 Barljourne Road Worcester WRI IRU Page 3
THE BROOKES MEMORIAL FUND RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 9 OCTOBER 2025 2025 2024 UNREsfRICTED RESTR]ED INCOMEFUND CAPITALFUND TOTAL FUNDS TOTAL FUNDS Receipts Investment Income: Dividend5 and interest from listed investments 26,230 211 26,441 25,318 Bank and other deposit interest 2,150 2,150 2,402 Proceeds of sale of Investrnents 51,119 51,119 47,927 Totsl recelpts 28,380 51.330 79,710 75,647 Payments Direct charit3ble expenditure: Grant5 to students Investment management charges Adminlstration Independent Examination Purchase of investments 19,514 19.514 5.355 4,500 522 20.104 11,ooD 8,856 4,500 498 43,099 5.355 4,5CK) 522 20.104 Total payments Net receiptsl{paymentsl tor the year 24,536 25,459 49,995 67,953 3,844 25,871 29.715 7,694 Bank balance5 at 9 October 2024 70,867 6,071 76,938 69,244 Bank balances at 9 October 2025 74,711 31,942 106,653 76,938 Page 4
THE BROOKES MEMORIAL FUND STATEMENT OF ASss AND LIABILITIES AS AT 9 OCTOBER 2025 2025 REsfRlED CAPITAL FUND 2024 UNRERICTED INCOME FUND T(YfAL FUNDS TOTAL FUNDS Cash and bank dep055tS: Bank current account Stockbroker deposit account Charities deposit fund 23,972 23,972 31,944 50,738 21,728 6,621 48.589 31,944 50.738 74,710 31.944 106,654 76.938 Investment assets: Investments at market value (see page 71 586,917 586,917 592,575 Liabilitles: Independent Examiner's fees 522 522 498 Approved on behalf of the Trustees A Wood Date.. Page 5
THE BROOKES MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 9 OCTOBER 2025 l Accountlng pollcle5 The accounts have beell prepared under the receipts and payment5 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 Condutt Authority. Short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignlflcant risk of changes in value are treated as being cash equivalents 2 Funds The Capital Fund Yepresent5 the original capital of the charity. It Is a restricted fund held for investment purp05es the income of which is to be ijsed for the objects of the charitv. The Income Fund represents the unexpended income of the tharity. It Is an unrestricted fund. 3 Tru5tees' Remuneratlon and Expenses The charity employs no staff and during the year it was administered by L Ruane on behalf of the trustees. The trustees were paid no remuneration and dld not receive any relmbursed expenses during the year12024 Nill. 4 Related Party Transartlons There are no related party transattions to report durinE this year or the preceding year. Page 6