BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
ANNUAL REPORT AND ACCOUNTS
30TH JUNE 2024
PA YNE HICKS BEACH LLP
Solicitors
10 New Square
Lincoln's Inn
London WC2A 3QG

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
CONTENTS
Re
Administrative information about the charity, its directors and advisers
4-10
Directors, report
Independent audilorfs report
Accounts
15
statement of financi81 activities
16
Balanca sheet
17
statement of cash flow
18-20
Principal accounting policies
Notes lo the accounts
endix
27
Grants payable

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
ADMINISTRATIVE INFORMATION ABOUT THE CHARITY ITS TRUSTEE AND ADVISERS
CORPORATE TRUSTEE
Bill Brown Charity Trustees
DIRECTORS OF THE CORPORATE TRUSTEE
THE DIRECTORS
Graham Stephen Brown
Anthony John Barnett
Neil John Wingeralh
PRINCIPAL ADDRESS
10 New Square
Lincoln's Inn
London WC2A 3QG
WEBSITE ADDRESS
wWw.b￿llbrOwnCharitY.0rg
CHARITY REGISTRATION NUMBER
801756
AUDITOR
Bright Grahame Murray
Emperorfs Gale
114a Cromwell Road
Kensington, London, SW7 4AG
INVESTMENT MANAGER
Inveslec Wealth and Investment Limited
30 Gresham Slreel
London EC2V 7QN
BANKERS
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent ME19 4JQ
PROPERTY MANAGEMENT
H811 Barn Estates Limited
The Eslale office
Home Farm
Hall Barn
Be8consfield
Bucks HP9 2SG
Bidwells LLP
Bidwe51 House
Trumpington Road
Cambridge CB2 9LD
SOLICITORS AND ADMINISTRATORS
Payne Hicks Beach LLP
10 New Square
Lincoln's Inn
London WC2A 3QG

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
DIRECTORS, REPORT - 30TH JUNE 2024
The directors of the corporate trustee (the directors) presents ils slalutory report togelher with the
accounts of Bill Brown's Charitable Settlement of 1989 (also referred lo as "The Bill Brown 1989
Charitable Trust") for the year ended 30th June 2024.
The a¢counls have been prepared in accordance with the accounting policies sel out on pages 18
10 20 of the attached accounts and comply wilh the Charity's Irusl deed, applicable laws, applicable
United Kingdom Accounting Slandards (United Kingdom Generally Accounted Accounting Praclicel,
and Accounting and Reporting by Charilies.. Slatemenl of Recommended Practice applicable to
charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable
in the United Kingdom and Republic of Ireland IFRS 102}, second edition (October 2019).
GOVERNANCE, STRUCTURE AND MANAGEMENT
Governance
The Bill Brown's Charitable Selllemenl of 1989 is governed by a trust deed dated 2nd May 1989. The
unincorporated charity is registered under the Charities Act 2011, Chariiy Registration No. 801756.
The statutory power of appointment of new directors of the corporate trustee lies with the continuing
directors themselves.
The names of the trusteesldireclors who setved during the year are set out as part of the administrative
informalion on page 3 of Ihis Annual Report and Accounts. Brief biographical details are given below..
Graham Stephen Brown
Mr. Brown was a trustee since inception until his resignation as an individual trustee of the Charity on
11 th December 2020. He was a partner in Payne Hicks Beach from 1972 until 2009, and was senior
partner from 1994 10 2008, and was a consultant with the firm until retiring on 31 st May 2014. He is an
Honorary Bencher of the Honourable Society of Lincoln's Inn. Mr. Brown is not related lo the lale
settlor.
Anthony John Barnett
Mr. Barnell was appointed a trustee on 26th September 1997 until his resignation as an individual
trustee of the Charity on 11 th December 2020. He is a Chartered Accountant and retired as finance
director of Verlingue Limited on 30th September 2020.
Nell John Wlngerath
Mr. Wingeralh was appointed a director in January 2024. He was for many years employed as Head of
the Trust and Tax Department of Payne Hicks Beach LLP.
Bill Brown Charity Trustees
On 11th December 2020, BS11 Brown Charity Trustees was appointed the sole truslee of the Trust.
The directors of the corporate Iruslee are Graham Stephen Brown, Anthony John B8rnett and
Neil John Wingerath. Mr. Brown and Mr. Barnett were appoSnted as directors on 8 April 2020.
The corporate trustee holds tille of the investmenl properties belonging to the Irusl.
On agreeing lo their appoinlmenl, the directors are thoroughly briefed by their co-directors
on the history of the trust, the day-lo-day management, the responsibilities of the directors,
the current objectives and future plans.
Dlrectors. responslbllltles statement
The directors are responsible for preparing the directors, report and accounts in accordance wilh
applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted
Accounting Praclicel.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
DIRECTORS, REPORT- 30TH JUNE 2024
GOVERNANCE. STRUCTURE AND MANAGEMENT (Continued)
Directors. responsibilities statement (contlnued)
Charity law in England and Wales requires the directors to prepare accounts for each financial
year which give a true and fair view of the slale of affairs of the charity at the year end and of ils
income and expenditure during that year. In preparlng accounts giving a true and fair view, the
directors are required to..
Select suit8ble accounting policies and then apply them consistently.,
Observe the methods and principles in Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable lo charities preparing their accounts in accordance
wilh the Financial Reporting Standard applicable Sn the United Kingdom and Republic of
Ireland (FRS 1021.,
Make judgements and esllmales that are reasonable and prudent.
stale whether applicable United Kingdom Accounting Standards have been followed,
subject to any material departures disclosed and explained in the accounts.
Prepare the accounts on the going concern basis unless It is inappropriale to presume
that the charity will continue lo operale.
The directors are responsible for keeping proper accounting records which disclose with reasonable
accuracy al any lime the financial position of the charity and whlch enable them lo ensure that the
accounls comply with the Charities Act 2011, applicable Charity {Accounts and Reports) Regulalions
and the provisions of the trust deed. They are also responsSble for safeguarding Ihe assets of the
charily and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
The directors are responsible for the maintenance and integriiy of the charity and financial
information included on the charity's website. Legislation in the United Kingdom governing the
preparation and dissemination of accounts may differ from legislation in olher jurisdictions.
Structure and management reportlng
The directors are ultimately responsible for the policies, activities and assets of the charity. Thoy
meet twice a year to review the developmenls with regard lo the charily, its grant giving aclivSties
and make any important decisions. When necessary, the directors seek advice and support from
the charity's professional advisers including investment managers, solicitors and accountants. The
day lo day management of the charity's activilies, and the implemenlalion of policies, is delegated
lo Ihe Private Client Department of Payne Hicks Beach LLP. The directors are continuing to review and
develop the process of managing grant applications and Payne Hlcks Beach LLP administers payments
and keeps the books and records of the charity.
Al their meetings the directors review the investmenl performance. and the investment managers
attend the meetings lo update the directors in detail on the portfolio. The directors review the
proposals for grants to be made and approve such grants as appropriate.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
DIRECTORS, REPORT - 30TH JUNE 2024
GOVERNANCE, STRUCTURE AND MANAGEMENT (Continued)
Risk management
In1Sne with the requirement for charity directors lo undertake a rlsk assessment exercise and
report on the same in their annual reporl, the directors have looked al the risks the Bill Brown's
Charitable Settlement of 1989 currently faces and have reviewed the measures in place, or needing to be
put in place. lo deal with them. The directors have identif5ed three main areas where risks may occur..
Governance
Operational
Financial
Governance looks at the continuity of trusteeship, Ihe skills and background of the directors
and the policies of regular meetings of the directors to review their aims and aclivilies.
Operatlonal looks al the risk inherent in the delegation of stalutory and legal requirements of the
charity, ils management and secretarial functions and delegallon of certain of those functions, and
ils grant giving activities.
Flnanclal risks include those inherent in delegation of management and custody of listed
investments to independenl investment managers. the financi81 record keeping of the charity, its
inveslmenl policy, audit and review procedures.
Having assessed the major risks lo which the charity is exposed. in particular those relating lo ils
investments and ils finances, Ihe directors believe that by ensuring controls exist over key financial
systems incorporating the syslems and controls implemented by Payne Hicks Beach LLP, and by
delegating the listed investment management function to investment managers, subject lo regular
monitoring. including periodic reviews of performance against benchmarks, they have established
effective systems to mi15gate those risks.
The risk assessment is kept under regular review and is fu51y reassessed every three years.
The keys risks faced by the Charity, as identified by the directors, are described below
together wilh the principal ways in which they are mitigated.
The value of the lisled inveslmenls is dependent on movements in UK and world stock markets.
The investments are managed by reputable inveslmenl managers who adhere lo a policy agreed by the
directors. The directors meet twice a year with the investment managers and the manager's performance
and that of the portrolio are monitored. The investmenl strategy is assessed regularly to ensure il
remains appropriate to the charity's needs both now and in the future.
Having completed a programme of investment in commercial properties in BeaconsfSeld,
Buckinghamshire, the charity now has properties informally valued at 30th June 2024 at £8,230,000
before set off of a1oan from CAF Bank secured against Ihe properties. The directors carry out
regular revlews of the properties in conjunction with their property agents Bidwells LLP who remain
engaged lo carry out regular strategic reviews.
The charity carries out its objectives by providing grants to institutions that are also UK
registered charities, whose objects comply with the charity's criteria. There is a risk that
a grant provided by the charity may not reach the intended recipient andlor may be used for
purposes not consistent with the charity's objects. Whilst the directors are mindful of
their own obligation lo ensure that the charity benefits the publSc generally, they lake some
assurance from the fact that recipients of grants are themselves regulated lo ensure that they
operate for the public benefit.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
DIRECTORS, REPORT- 30TH JUNE 2024
ACTIVITIES. SPECIFIC OBJECTIVES AND RELEVANT POLICIES
Activltles and specific obJe¢tlves
The directors operate a grant giving policy, providing funds for such charitable objects or
institutions as the directors think fil.
Inslilulions intending lo make an appeal are directed lo Ihe websile www.billbrowncharity.org
where more detailed information concerning particular areas of support, application guidelines.
exclusions and grants can be found.
The directors aim to make annual equSvalenl distribulions of approximately £475,000, excluding
substantial bursary commilmenls. After taking account of the bursaries and grants regularly
made, there are limSted funds available for dislribulion lo other charities in accordance with Ihe
guidelines sel out in the grant giving policy as summarised on the charity's website.
Oblectlves and actlvltles for the public beneflt
The directors take Iheir inspiration in identifying their areas of interest from Ihe life of the
Settlor, and his own thoughts and wishes, so far as Ihey are known.
The directors confSrm Ihal they have referred to the guidance contained In the Charily
Commission's guidance on public benefit when reviewing the Trust's aims and objectives and in
planning future activities and setting Ihe grant making policy.
The Trust carries out these objectives by providing grants and commitments to inslitulSons that are
also UK registered charities. whose objecls comply with the Trust's crSteria. Whilst the directors are
mindful of their own obligation lo ensure that the Trust benefits the public generally, they lake some
assurance from the fact that recipients of grants are themselves regulat8d lo ensure that they
operate for the public benefit.
Potential recipients of grants are identified by the directors indlvidually in areas where il Is
perceived that public benefit will be achieved. The opportunity lo benefit is not restricled in
any way except that grants are restricted to bodies regislered in the UK, nol least to facililale
the director being able lo follow up on the efficacy of the grants made. In all other respects
grants are not limiled in any way except that the recipients should have a charitable need.
The directors therefore consider that the Trust's activities are for Ihe benefil of the public generally.
Key management
The directors of the corporate trustee consider that they alone comprise the key management personnel
of the charity in charge of directing and controlling, running and operating the Trust on a day to day
basis. All directors give of their lime freely and no directors received any remuneration in the year.
Details of directors, expenses and remuneration and any relaled party transactions are disclosed in
notes 3 and 4 to the accounts. As noted above. the day or day management of the charSty's
activities, and the implementation of policies, is delegated to the Private Client Department of Payne
Hicks Beach LLP.
Listed investment poll¢y
The charity has portfolios of listed investments with an aggregate market value as at
30th June 2024 of £7,530,791.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
DIRECTORS, REPORT - 30TH JUNE 2024
ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES (Continued)
Listed Investment policy Icontlnued)
There are no restrictions on the charity's power lo invest. Separate investment strategies are agreed
between the directors and the two firms of Snveslmenl managers and are regularly reviewed. These
are the subject of separale policy slatemenls which have been completed by the direclors and form
an integral part of Ihe agreements with the investment managers to provide investment managemenl
services.
The investment managers are invited lo allend each formal meeting of the directors lo provide a report
on the performance of the portfolios, comparison against the b8nchmarks and general market issues.
ACHIEVEMENTS AND PERFORMANCE
Commercial property
The directors have four comm8rcSal properties and details of these are shown in the attached
accounts. Improvement works lo the properties have been undertaken and Ihe properties aro let.
At the period end the properties were valued at £8.230,000. The properly investment, including the
improvement works, h8ve been funded by a loan of which £1,451,973 remains repayable at 30th June
2024 and is secured on three of the commercial properties.
Review of activitlès
Total income received in the period from the charily's investment assets and cash deposits amounts
to £533,151 which equates to a yield of 3.40/. (based on Ihe market valuation of the assets at the
year endl. The directors awarded grants lotalling £166,250 during the year, in accordance with the
charity's grant giving policy set out above. A detailed list of all grants made in Ihe period is included
in the Appendix on page 27.
The directors mainlain a lisl of charitable organisations which the charity regularly supports and
they are currently undertaking 8 Gomprehensive review of their grani giving policy as set out above.
The directors feel that their objectives have been adequately mel during the period.
However, the directors are aware that there are exlerna5 factors, which could affect the achievement of
their objectives as a significant part of the charity's assets are made up of investments and cash, the
result ofwhich are dependent on the general performance of Ihe UK and overseas stock markets. As
noled above under risk management, in order to minimise this, the direclors have set prudent
investment policies and place reliance on the investment managers lo monitor and advise on the
necessary inveslment changes and suitable asset allocation.
Investment performance
The yield from the combined income of listed investment assets and cash deposils was 2.4°10, and
there was a capital increase of 8.3 /. (based on the valuation of assets al the period endl. At Ihe
end of the period (he charily's portfolio of investments comprised of 120/0 UK equities and unll trusts,
19010 UK fixed interest, 69 % overseas equities and fixed Interest.
The aggregate rents for the period from the lellings of the properties at London End was £306,247
Iwilh rent arrears of £6,532) which equates lo a gross yleld of 3.7 % p.a. (excluding arrears).
In view of the current volatillty in financial markets, the directors are satisfied with the performance
of the listed investments and they are contenl also with the return from the inveslmenl properties.
They are satisfied that their inveslmenl objectlves will be met over the medium term.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
DIRECTORS, REPORT - 30TH JUNE 2024
FINANCIAL REVIEW
Results for the year
A summary of the period's results can be found on page 15 of this report and accounts.
During the year ended 30th June 2024, total income amounted lo £533,15112023- £464,862),
being income arising from the charity's investments including rental income and cash deposits.
The directors made grants and commitments to 14 institutions totalling £166,25012023 - £153,250). No
new granls were agreed during the year ended 30th June 2024, only regular donations were awarded.
Investmenl manager fees were £38,11912023 £39,948), grant administration costs lotalled £63,128
(2023 - £37,454), properly expenses amounted lo £310,261 (including CAF Loan Interest of £126,325)
{2023- £228,840) and governance costs were £8,460 {2023- £12,727). Total expenditure was
£586,218 (2023- £472,219).
There were nel gains on listed investments and investment property during the year of £271,327
{2023 - losses of £377,507).
This results in nel increase in funds during the year of £218,26012023 - nel decrease in funds
of £384,864).
Reserves pollcy and financlal position
Reserves policy
The directors. policy is to operate on the basis of being able lo continue lo generate sufficient
income lo use towards meeting their charitable objects and lo accord wllh their principal alms.
The directors are of the opinion that the funds remains sufficient lo enable them to continue
this ongoing objective.
The charity has sufficient, bul nol excessive, funds to service its objective of making future
charitable distributions.
Financial posltlon
The balance sheel shows total funds of £12,892,662 (2023 - £12,674,402). The unrestricted fund
comprises amounts which ultimately are free reserves but which are held by the directors for
investment so as to ensure the continued generation of income in future periods, thereby helping
to safeguard the long term existence of the chariiy and the achievement of ils objectives. The
size of the unrestricted fund sustains and supports the levels of donations which the directors wish
lo maintain and enhance over time. The directors consider free reserves to be adequate but not
excessive in the light of the charity's reserve policy sel out above.
Future plans
The directors do not anticipate any significant changes lo the charity or ils activitles over
the next two lo five years. It is their intention lo meet the following obje¢lives.'
To increase their direct investment in commercial property.
To ensure the performance of both lisled investments and property achieves the criteria
sel by them so that there are sufficienl funds to meet their grant giving policies.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
e10
DIRECTORS, REPORT- 30TH JUNE 2024
FINANCIAL REVIEW (Contlnuedl
Futuro plans Icontlnued)
To continue lo make granls and commitmenls al a similar or higher level.
Signed on behalf of the directors of the corporate trustee..
Neil Wingerath
Director of the Corporate Trustee
Approved by the directors of the corporale trustee on..
KpiiL
.2025

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
e11
INDEPENDENT AUDITOR'S REPORT- 30TH JUNE 2024
INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF THE CORPORATE
TRUSTEE OF THE BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
OPINION
We have audited the accounts o18ill Brown's Charitable Settlement 011989 lihe 'ch8rity'l for the year
ended 30 June 2024 which ¢omprise the slatemenl ol financial a¢livilies, the balance sheet, the principal
accountin9 policies and the notes lo the accounts. The finanryal reporting framework Ihal has been applied
in Iheir preparation is appll¢able law and United Kingdom Accounting Standards, including Financial
Repc>rting Standard 102 'The Financial Roporting Standard applicable in Ihe UK and Republic of Ireland,
(United Kingdom Generally Accepted Accounting Praclicel.
In our opinion, the accounts:
give a true and fair view ol Ihe slate of the charily's affairs as at 30 June 2024 and ol its income and
expenditure for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted A¢¢ounling
Pr8¢1i¢e', and
have been prepared in 8¢¢ordance wilh the requirements ol the Charities Act 2011.
BASIS FOR OPINION
W@ conducted our audit in accordance wlh International Slandards on Auditing IUKI IISAS IUKII and
applicabl6 law. Our responsibilities under those standards are lurlher described in the auditor's
responsibilities for the audit ol the accounts section ol our report. We are independent ol the charity in
accordance wilh the ethical requirements that are relevant lo our audit of the accounts in the UK, including
the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance with
these requirements. Wts believe Ihal the audit evidence we have obtained is sufficient and appropriate lo
provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the accounts, we have concluded Ihal the directors of Ihe corporate Iruslees, use ol the going
concern basis of ac¢ounling in the preparation ol Ihe accounts is appropriate.
Based on the work we have performed, we hav6 nol identified any material uncertainties relallng lo events
or conditions that, individually or collectively, may cast significant doubt on the Charity's ability lo continue
as a going ¢oncern for a period of al least twelve months from when the accounts are aulhorised lor issue.
Our responsibilities and the responsibililies of th& directors of the corporate Irustee with respecl to 90ing
concern are described in the relevant secllons of this report.
OTHER INFORMATION
The direclors of the corporate Iruslee are responsible lor the olhtsr information. The other inlormallon
Comprises the information included in the Annual Report and Accounts, olher than Ihe accounls and our
audilorfs report Ihereon. Our opinion on Ihe accounts does not cover the other inform81ion and we do not
express any form of assurance con¢lusion Ihereon.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
e12
INDEPENDENT AUDITOR'S REPORT- 30TH JUNE 2024
INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF THE CORPORATE
TRUSTEE OF THE BILL BROWN'S CHARITABLE SETTLEMENT OF 19B9
OTHER INFORMATION Icontlnuedl
In connection with our audit ol Ihe accounts, our responsibilily is lo read the other inlormalion and, in dolng
so. consider whether the other information is materially inconsislenl wlh the accounts or our knowledge
obtained in the audit or olhtsrwise appears lo be materially misslaled. 11 we identify such material
inconsislen¢ies or apparent materi81 misslalements, we are required lo determine whelher there is a
material misslalemenl in the accounts or a material misslalemenl ol the other inlormalion. 11, based on the
work we have performed. we conclude that there is a material misslalement of this other inlomation. we
are required lo report that facl.
We have nothing lo report in this regard.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing lo report in respect ol the lollown9 matters in relation lo which Ihe
Charities Act 2011 requires us to rtrport to you il, in our opinion..
the information given in the dire¢lors' report is inconsistent in any material respe¢l with
the accounls., or
sullicienl accountin9 records have not been kept,. or
the accounts are not in agreement with the accounting records and returns., or
we h8ve not received all Ihtr information and explanations we require for our audit.
RESPONSIBILITIES OF DIRECTORS
As explained more lully in the directors, responsibilities slalement. the directors ol Ihe corporate trustee
are responsible lor the preparation of the accounts and for being satisfied Ihal they give a true and fair
view, and lor such internal control as the directors ol Ihts Iruslee determine is necessary lo enable the
preparation ol accounts th81 are Ire& from material misstatement, whether due lo fraud or error.
In preparing Ihe accounls, the direclors of the Iruslee are responsible lor assessing the charity's abilily lo
continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the
going concern basis ol a¢counling unless the directors ol Ihe trustee either intend lo liquidate the charity or
to cease operations, or have no realistic allernalive bul lo do $0.
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE ACCOUNTS
We have been appointed as auditors under se¢lion 144 01 the Charities Act 2011 and report in
accordance with the Act and relevant regulations made or having eflecl Ihereunder.
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from
material misslatemenl. whether due lo fraud or error, and lo issue an auditor's report that includes our
opinion. Reasonable assurance is a high level ol assurance, bul is not a guarantee that an audit
Conducted in a¢cordance with ISAS {UKI will always detect a material misslalemenl when il exists.
Misstalemenls can arise from fraud or error and are considered material if, individually or in Ihe aggregate,
they could reasonably be expected lo influence the e¢onomic decisions of users taken on the basis of
these accounts.
Irregularities, induding fraud, are Snslances of non.compliance wlh laws and regulations. We design
procedures in lints with our responsibillli6s, outlined above, lo delecl material missiatemenls in respecl of
irregularities, including Iraud. The exlenl lo which our procedures are capable ol delecling irregularities,
including fraud is detailed below.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
e13
INDEPENDENT AUDITOR'S REPORT - 30TH JUNE 2024
INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF THE CORPORATE
TRUSTEE OF THE BILL BROWN'S CHARITA8LE SETTLEMENT OF 1989
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE ACCOUNTS IContlnu¢d)
Our approach lo idenlifwng and ass8ssing the risks of material misslalemenl in resptscl ol irregul8rilies.
including fraud and non-compliance with laws and regulations. was as follows..
We ensured that the engagement team collectively had the appropriate compelence. capabilities and
skills to identify or recognise non-compliance with applicable laws and regulations,.
We oblained an understanding of the legal and regulalory frameworks that are applicable lo the
charity and determined that the most significant frameworks which are directly relevant lo specific
assertions in the financial stalemenls are those Ihal relate lo the reporting Iramework Istalemenl of
Recommended Practice: Accounting and Reporting by Charities preparing their accounls in
accordan¢e with Ihts Financial Reporting Standard applicable in the Uniled Kingdom and Republic ol
Ireland IFRS 1021 and the Charities Acl 20111.
We identified laws and regulations were communicated wlhin the audit team regularly and the team
remaintrd alert lo instances ol non-compliance throughout the audil.
We assessed the susceplibilily of the charity's financial slalemenls lo material misstalemenl, including
obtaining an understanding ol how fraud might occur, by..
Making enquiries of the charity's 8dminislralors as lo their knowledge ol actual, suspecled and
alleged fraud,. and
Considering the internal controls in pla￿ to miligale risks ol Iraud and non-compliance with laws and
regulations.
To address the risk ol fraud Ihrough management bias and override of controls, we..
Performed analytical procedures to identify any unusual or unexpected relationships..
Assessed whether judgemenls and assumptions made in delermining th8 accounling &slimales were
indicative ol potential bias..
Tesled aulhorisation Controls on expenditure items, ensuring all expenditure was approved in Ilne with
Ihe charity's financial procedures.. and
Performed subslanlive lesling on granl expenditure lo ensure Ihe exp&ndilure incurred complied with
the funding agreements.
In response lo Ihe risk ol irregularilies and non-compliance wlh laws and ￿gUlatiOns, we designed
procedures which included. but were not limited lo..
Agreeing finan¢ial slalemenl disclosures lo underlwng supporting documenlalion.,
Reading the minutes ol meetings ol those charged with goveman¢e', and
Enquiring ol the charity's administrators as lo actual and polenlial litigation and claims.
There are inherent limilalions in our audit procedures described above. The more removed that laws and
re9u181ions are from financial Iransaclions, the less likely it is Ihal we would become aware ol non-
compliance. Auditing standards also limit the audit procedures required lo identify non-compliance with
laws and regulations lo enquiry of Ihe directors ol the Iruslee and adminislralors and the inspgciion of
regulatory and legal ¢orrespondence, if any.

BILL B
'SCH
BLE
ETTLE
ENT
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Pa
DEPENDEN
AUDITO
ORT - 30T
JUNE 202
INDepENDENT AUDITOR'S REPORT TO THE DIRECTOR8 OF THE CORPORATE
TRUSTEE OF THE BILL BROWN'8 CHARITABLE 8ÈYTLEMENT OF 1989
AUDITOR'S RE8PON81BILThie8 FOR THE AUDIT OF THE ACCOUNT8 IContlnu•dl
M81erfal ml$$lalements Ihal 8T188 due lo fr•ud can be harder lo detect Ihan those Ihol ar188 from eff(* 88
they may Involve deliberate Concealm￿1 or c>Jllu810n.
A lurthor d&s(xlpllon of OLtr r88pon81bllltlos for th8 8udll of the account818 locatsd on Ihe Fln8ft¢181
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oudltorf8 repyL
USE OF OUR ftEPORT
Th18 report la made 801ely lo lh8 charlV8 dlreclor8, as a body, In accordance ￿1th 8edtcffi 145 olthe
Charfllos Act 20116nd vAlh regulaUon8 mado under 8ectlon 104 of that Ad. Our audlt ha8 bee
undertgken 80 that ￿ mlghl 8tale lo Ihe ch8dtli dlreclor8 thosa mattern ￿ Are requlred to 818to lo Ihem
In an audllorf8 report and lor no olher Pufpose. To lh6 lulle81 extent ￿lMItted by l&w. w6 do not accopt or
888ume r68pon8tblllty to 8nyDne other than the tharlty ond Ihe ch8rlV$ dlrectorn as a body. for t)ur audlt
I￿rk, lor Ihls rwirL or the op1r￿0n8 ￿ have form￿.
Paul Dav16 FCA (Senlor Slaiuw Audltor)
for and on behallof Brlghl Grehama Murroy
st9￿10ryAUdI1Qr
Charlered A¢¢ountants
Emp6rorf8 Gale
1140 crom￿17 Road
Kenslnglon, LorKlon, SW7 4AG
8rfght Grahamo Murroy Is dlglble lor 8ppoln1m￿I 08 8udltorol Chadty by vlrtue of Its elklUIIty lor
appolnlment as audllor of o ¢ompany under 8a¢Uon 1212 of the Componle8 Act 2008.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
e15
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30TH JUNE 2024
2023
Notes
2024
INCOME FROM..
Investments
Rental income
SeTvice charges
Income from listed investmenls
Interest receivable
255.958
25.292
181,052
2,560
306,247
36,242
183,770
6.892
464.862
TOTAL INCOME
533,151
EXPENDITURE ON
Raising funds
Investment management cosls
Property expenses
Charitable aclivilies
Promoting and enhancing
charitable work
39,948
228,840
38,119
310,261
203,431
237,838
472,219
TOTAL EXPENDITURE
586,218
(7,357)
NET {EXPENDITURE)IINCOME BEFORE INVESTMENT
GAINSI{LOSSESI
(53,067}
Investment gains..
Realised gainslllossesl on listed investments
Unrealised gainslllossesl on listed inveslments
Unrealised gainslllossesl on investment property
1,116,379
(942.212)
{551,674)
1,381,979
1805.6521
1305.000)
1377,5071
NET GAINSI{LOSSESI ON INVESTMENTS
271,327
NET INCOMEIIEXPENDITURE) AND NET MOVEMENT
IN FUNDS
{384.864)
218,260
RECONCILIATION OF FUNDS
Total funds broughl forward al 1st July 2023
13,059,266
12,674,402
12,674,402
Total funds carried forward al 30th June 2024
12,892,662
All recognised gains and losses are included in the above slatemenl of financial activities.
All of the charity's activities derived from continuing operations during the above two
financial years.
All income and expenditure were allributable lo unrestricted funds in the above two
financial years.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
e16
BALANCE SHEET - 30TH JUNE 2024
2023
2023
Notes
2024
2024
FIXED ASSETS
Investments
7,636.208
8,535,000
Listed Investments
7,530,791
8,230,000
Freehold Investment Properties
16,171.208
15,760,791
CURRENT ASSETS
16,925
969,928
Debtors
Cash at bank and in hand
14,548
720,627
986,853 Total current assets
735,175
LIABILITIES..
Creditors.. Amounts falling due
within one yèar
1929.261)
10
1816,299)
57,592
NET CURRENT ASSETSI
LIABILITIES
181,1241
16,228,800
TOTAL ASSETS LESS CURRENT LIABILITIES
15,679,667
Creditors.. Amounts falling due
after one year
(3,554,398)
(2,787,005)
12,674,402
NET ASSETS
12,892,662
THE FUNDS OF THE CHARITY
Unrestricted Income Funds
General FLFnds
12,674,402
12,892,662
Approved by the directors of the corporate Irustee and signed on their behalf by..
Neil Wingerath
Directors of the Corporate Trustee
QE"
APIIL
Dale of Approval..
. 2025

BILL BROWN'S
ARITABLE
ETTLEMENT O
1989
Pa
e17
ST
TEMENT
F CASH FL
ws
FOR THE YEAR ENDED 30
UNE2
24
2023
2024
CASH FLOWS FOR OPERATING ACTIVITIES
Nel in¢omellexp&ndilurel lor the year
Nel Igainllloss on inveslments
Interest receivable
Inveslmenl income receivable
Dts¢reasellin¢reasel in debtors
Increaselldecrea861 in creditors
1384,8641
377,507
12,5601
1462,3021
56.096
1895,8221
218.260
1271,3271
16,8921
1526.2591
2,377
1731,3111
11,311,945)
NET CASH USED IN OPERATING ACTIVITIES
11,315,152)
2023
2024
CASH FLOWS FROM INVESTING ACTIVITIES
Payments lo acquire investments
Payments towards inveslmenl property and capital
improvements
Re¢eipls from disposals of investments
Inleresl receivable
Investment income received
12,160,167)
15,570,222>
11,674}
3,278.761
2.560
462.302
6,251.966
6,892
526,259
1.581,782
NET CASH PROVIDED BY INVESTING ACTIVITIES
1,214,895
202
CASH FLOWS FROM FINANCING ACTIVITIES
153,6581
Repaymenis ol borrowing
1149,0441
IS3,6581
NET CASH FLOW PROVIDED 8Y FINANCING ACTIVITIES
1149,0441
CHANGES IN CASH AND CASH EQUIVALENTS IN
THE REPORTING PERIOO
Balance al bsginning of the period
Movemenl in cash in the year
Balance at end of the period
753,749
216,179
969,928
969.928
{249.3011
720,627
ANALYSIS OF CHANGES IN NET DE8T
Al 1st
Jul 2023
Movement
in
AI 30th
June 2024
Cash al bank and in hand
Debt due within one year
Debt due after one year
969,928
1249,301}
144,9201 1120.049}
11.554.398)
267,393
720.627
1164,969}
11,287,005)
Nel debt
1629,3901 1101,957} 1731.3471

BILL BROWN'S CHARITABLE SE￿LEMENT OF 1989
Pa
e18
PRINCIPAL ACCOUNTING POLICIES- 30TH JUNE 2024
Charity Information
Bill Brown's Charitable Settlement of 1989 is an unincorporated charity registered in England and
Wales (Charily Number 801756). The charity is governed by a Trust Deed dated 2nd May 1989.
The registered Offi￿ is 10 New Square, Lincoln's Inn. London, WC2A 3QG.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty
in the preparation of the accounts are laid oul below.
Basls of preparation
These accounts have been prepared for the year ended 30th June 2024 with comparative
informalion presented in respect lo the year to 30th June 2023.
The accounts have been prepared under Ihe historical cost convention modified lo include
investment properties and certain financial instruments at fair value. The principle accounling
policies adopted are sel out below.
The accounts have been prepared in accordance with Accounting and Reporting by Charities..
Slalemenl of Recommended Practice applicable lo charities preparing their a￿oun1S in accordance
with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
Icharilies SORP FRS 102) second edilion (October 2019), Ihe Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) and the Charities Act 2011.
The charity Conslilutes a public benefit entity as defined by FRS 102.
The accounts are presented in sterling and are rounded lo the nearest pound.
Critl¢al accounting gstlmates and areas of judgement
Preparation of the accounts requires the direolors lo make significant judgemenls and estimates.
The items in the accounts where these judgements and estimates have been made include..
estimating the liabilily for mulli-year 9ranl commilmenls.
estimating the valuation of the investment property.
Assessment of going concern
The directors have assessed whether the use of the going concern assumption is appropriate in
preparing these accounts. The directors have made this assessment in respect of a period of one
year from the dale of approval of these accounts.
The directors have concluded that there are no material uncertainties related to evenls or conditions
that may cast Slgnificanl doubt on the ability of the charity to continue as a going concern. The
directors are of the opinion that the charity will have sufficient resources to meet its liabilities as they
fall due and therefore there are no concerns regarding the ¢harily's ability to continue as a going
concern. The most significant areas of judgement Ihal affect items in the account are detailed above.
With regard lo the nexl accounting period, the year ending 30th June 2025, the most significanl
areas that affect the carrying value of the assets held by Ihe chariiy are Ihe level of investmenl
return and the performance of the investment markets (see the investmenl policy and the risk
management sections of (he directors, report for more information).
Income recognition
Income is recognised in the period in which the charity has entitlement lo the income, the amounl
of income can be measured reliably and il is probable that the income will be received.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
e19
PRINCIPAL ACCOUNTING POLICIES- 30TH JUNE 2024
Income recognltion Icontlnued)
Income comprises property rental income and services charges, investment income from listed
investments and interest from deposits.
Rental income and service charges from inveslmenl properties are recognised when they become
due under the relevant tenancy agreement.
Dividends are recognised once the dividend has been declared and notification has been received
of the dividend due.
Interest on funds held on deposit is included when receivable and the amount can b8 measured
reliably by Ihe charity.. this is normally upon notification of the interest paid or payable by the bank.
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
commilling the charity to make a payment to a third party, il is probable that a transfer of economic
benefits will be required in settlement and the amount of the obligations can be measured reliably.
All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and
support costs. All expenses, including support costs, are allocated or apportioned lo the
applicable expenditure headings. The classification between the activities is as follows..
la) Expendilure on raising funds includes all expendilure associated with raising funds for the
charity. This includes the fees paid to the investment manager in connection with the
management of the charity's listed investments and the costs in respect lo the charills
investment properties.
Ib) Expenditure on charitable activities includes all costs associated with furthering the
charitable purposes of the charity through Ihe provision of its charitable aclivilies. Such
costs include charitable grants payable in promoting and enhancing charitable work carried
out by other charitable organisalions, and related support costs including the cost of
administering the activities of the Charily and governance costs.
Grants payable are included in the statement of financial activities when approved and when the
intended recipient has either received the funds or been informed of the decision lo make the
donation and has salisfied all related corlditions. Grants approved bul not paid al the end of the
financial period are accrued for. Grants where Ihe beneliciary has not been informed or has to meet
certain conditions before Ihe grant is released are not accrued for bul are noted as financial
commitments in the notes lo the 8ccounts.
All expenditure is slated inclusive of irrecoverable VAT.
Allocation of $upport and governance costs
Support costs represent indirect charitable expenditure. In order to carry out the primary
purposes of the charity il is necessary lo provide support in the form of administration services.
Governance costs comprise the costs involving the public accountability of the charily
(including audit costs) and costs in respect of ils compliance with regulation and good practice.
Support costs and governance costs are apportioned directly lo Ihe one charitable activity.
Fixed asset Investments
Fixed asset investments (both listed investments and property) are included on the balance sheet
al their market value 81 the end of the financial period. Realised and unrealised gains {or losses)
are credited lor debiledl, lo the slatement of financial activities in the year in which they arise.

BILL BROWN'S CHARITABLE SE￿LEMENT OF 1989
e20
PRINCIPAL ACCOUNTING POLICIES- 30TH JUNE 2024
Fixed asset investments (continued)
Listed investments are a form of basic financial instrument and are initially recognised al their
transaction value and subsequently measured at their fair value as al the balance sheel dale using
the closing quoted market price.
The charity does not acquire pul options, derivatives or other complex financial inslruments.
As noled above the main form of financial risk faced by the charity is thal a volatility in equily
markets and investment markets due to wider economic conditions, the altitude of investors lo
investment risk, and changes in sentiment concerning equities and within particular sectors or
sub sectors.
Investment Properties
Investment properties are initially recognised al cost. The cost of a purchased investment property
comprises its purchase price and any directly altribulable expenditure such as legal and brokerage
fees, property transfer taxes and other transaction costs.
Investment properties have subsequently been measured al fair value (i.e. open market value)
at the reporting dale.
The property valuation is based on the valuation by an independent valuer who holds a recognised
and relevant professional qualification and has recent experience in the localion and Class of the
inveslmeni properties being valued.
Realised gair)s lor losses) on investment assets are calculated as the difference belween disposal
proceeds and their opening carrying value or their purchase value is acquired subsequent to the
first day of the financial period. Unrealised gains and losses are calculated as the difference
between the fair value al the period end and their carrying value at that date. Rea1ised and
unrealised investment gains lor losses) are credited lor debited) in the statement of financial
activities in the period in which Ihey arise.
Loans
Bank loans are a basic financial inslrumenls and are recognised at their transaction value, which is
normally Ihe principal amount advanced plus transaction cosls. Subsequent to initial recognition,
108ns are slated al amortised cost with any difference between cost and redemption value being
recogrnised the statement of financial activities using the effective interest method.
Debtors
Debtors are recognised al their selllemenl amount, less any provision for non-recoverability.
Prepayments are valued al the amount prepaid. They have been discounted to the present value
of the future cash receipt where such discounting is material.
Cash in bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on
demand or have a malurily of less Ihan three months from the date of acquisition.
Creditors and provlsions
Creditors and provisions are recognised when there is an obligation al the balance sheet dale as a
result of a past event, il is probable that a transfer of economic benefit will be required in settlement,
and the amount of the selllement can be estimated reliably. Creditors and provisions are
recognised at the amount the charity anticipates il will pay to settle the debt. They have been
discounted to the present value of the future cash payment where such discounting is material.
Fund accounting
The unrestricled fund represenls funds available for Ihe general charitable purposes of the
charity which may be applied al the discretion of the directors.

BILL BR
WN'S CHARifABLE SETTLEMENT OF 1989
Pa
e21
NOTES TO THE ACCOUNTS- 30TH JUNE 2024
I INVESTMENT INCOME
Income from listed investments arises from the following investments..
2023
2024
Direct investments..
98,089
5.850
749
56,341
20,016
UK Equllies and Unil Trusts
Fixed Interest
REITS
Overseas Equities
Overseas InteTesl
Excess reportable income
67,934
36,112
64,780
14.657
287
181,052
183,770
2 PROMOTING AND ENHANCING CHARITABLE WORK
2023
2024
153,250 Grants payable lo inslilulions
37,454 Grant administration costs
12,727 Governance costs Inole 31
166.250
63.128
8.460
203,431
237,838
A reconcillalion of the 9ranls payable and grant commllments fi9UTes shown in these accounts
is as follows:
2023
2024
3,650.000 Grant commitments al 1st July 2023
153,250 Grants agreed during the year
2,712,000
166.250
3,803.250 Grants payable
11,091,250) Grants paid during the year
2,878,250
1875.7501
2.712,000 Grant commilmenls al 30th June 2024
2.002,500
In addition lo the amounts commilled and accrued and noted above, the directors from lime lo
lime also aulholise ￿rtain grants which are subject to the recipient fulfilling certain conditions.
The lolal amount aulhorised bul not accrued for in these accounts a1301h June 2024 was
£nil12023 - £nill.

BILL BROWN'S CHARITABLE SEftLEMENT OF 1989
Pa
e22
NOTES TO THE ACCOUNTS- 30TH JUNE 2024
3 GOVERNANCE COSTS
2023
2024
Slalulory audit fee
1361 Adjuslmenl lo 2021 fees
4,380 Adjuslmenl lo 2022 fees
7,200 Audit Fees
7.990
7.990
1,183 Directors, expgnses
470
12.727
8,460
4 STAFF COSTS, DIRECTORS, REMUNERATION AND RELATED PARTY TRANSACTIONS
The charity employed no staff during the year12023 - none).
No directors received any remuneration in respect of their services during the year12023 . £nlll.
One director was reimbursed £470 for travel and subsistence expenditure incurred
in the performance of Iheii duties during the ye8r12023 - One dlreclor was
relmbursed £1,183 for Iravol and subsllence expendllure incurred in the
performance ol their duties.
The key management personnel of the charity in Charge of direding and conlrolling the charity
comprise the diTeclors.
rhe lolal remuneration (including taxable benefits and employer's pension conlribullonsl
of the key management personnel for the year was £nil12023 . £nlll.
There were no other related paty transactions durlng the period of the report12023 - none).
S TAXATION
The Bill Brown's Charitable Settlement of 1989 is a registered charity and. therefore, is not liable to
Income tax or corporation lax on income or galns derived from ils charitable activities as they
fall within the exemptions avallable to registered charilles.
6 LISTED INVESTMENTS
2023
2024
Movements in Ilsled investments during the year were as follows..
8,580,635 Market value 81 Isl July 2023
2,160,167 Additions al cost
Disposals al book value
12,162,382) IproGeeds: £6,251,966.. gains £1,381,979)
{942,2121 Nel unrealised gainslllossesl in year
7,636,208
5,570,222
14,869.9871
1805.6521
7,636,208 Market value al 30th June 2024
7.530,791
6,400.639 Cost of listed investments 30th June 2024
7,094.400

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
e23
NOTES TO THE ACCOUNTS- 30TH JUNE 2024
6 LISTED INVESTMENTS Icontlnuedl
All investments were dealt in on a recognised stock exchange:
2023
2024
Listed investments held al 30th June 2024 comprise the
following inveslm&nls all listed on a UK stock exchange..
UK Equities and Unil Trusts
UK Fixed Interest
2.204,545
682,083
907,051
1,401,500
2,886,628
2,308,551
Overseas
Equities
Fixed Interest
4,127,267
622,313
4.972,773
249,467
7,636.208
7,530.791
AI 30th June 2024 no individual holdlngs had a market value in
ex¢ess of 5010 of the enllre portfolio.
7 FREEHOLD INVESTMENT PROPERTY
2023
2024
9,085,000 Market value brought forward
1,674 Addillons
1551.6741 Revaluation
8,535,000
1305,0001
8,535.000 Market value cathed forward
8,230,000
The freehold properties were Tevalued as al 30th June 2024 on an open market
value. The valuations were carried out by the directors with professional
assistance.
The market values of the properties as al 30th June are..
1,200.000 5 London End, Beaconsfield, Bucks
3,900.000 35137139 London End, Beaconsfield, Bucks
3.435,000 51153 London End, Beaconsfield. Bucks
995,000
3.800.000
3,435,000
8,535,000
8,230,000

BILL BROWN'S CHARITABLE SETTLEMENT OF 198
Pa
e24
NOTES TO THE ACCOUNTS- 30TH JUNE 2024
7 FREEHOLD INVESTMENT PROPERTY Icontlnuedl
2023
2024
The historic cost of the properties are..
1.358,150 5 London End, Beaconsfield. Bucks HP9 2HW
570.408 35 London End, Beaconsfield, Bucks HP9 2HW
3.086.630 37139 London End. Beaconslield, Bucks HPg 2HW
3.182.628 51153 London End. Beaconslleld, Bucks HP9 2HW
1,358,150
570,408
3,086,630
3,182,628
8,197,816
8,197,816
8 DEBTORS
2023
2024
184 Income Tax recoverable
VAT recoverable
10,988 Rent arrears
5,753 Accrued interest on investments
6.532
8,016
16.925
14.548
9 CASH AT BANK AND IN HAND
2023
2024
700,373 Inveslec Wealth and Investment
60,999 CAF Bank Ltd.
82.166 Payne Hicks Beach LLP
105,014 Philip Marsh Colllns Deung
21.376 Hall Barn Eslales Ltd.
544,608
62,646
5.249
79,483
28,641
969,928
720,627

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
e25
NOTES TO THE ACCOUNTS - 30TH JUNE 2024
10 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2024
Accruals for grants payable
Agreed donations in 2024 awaiting payment
University of Bristol - Premler Lecture Theatres
Churchi11 College - Bill Brown Creative Workshop
Bank loans and overdrafts
Loan Inole 111
CAF Loan repayment inleresl accrual
Trade creditors
Investment management fees
Grant adminislralion costs
Slalulory audll fee
2020
2021
2022
2023
2024
12,000
500,000
200,000
2,500
500.000
44,920
5,275
164,969
3,575
9.881
37,454
9,671
33,720
4,488
4,584
9,000
7,200
7,990
7,990
A¢cruals and deferred Income
50,338 Deferred income
Taxation and soclal sgcurlty
12,253 VAT payable
Other creditors
16,643 Lease tenancy deposlt
15,225 Other creditors
67,339
16.401
10,134
929,261
816,299
11 CREDITORS.. AMOUNTS FALLING DUE AFTER ONE YEAR
2023
2024
Loan
Within 1 2 years
Within 2 - 5 years
After 5 years
50.539
178,846
1,325.013
73.239
259,147
954,619
1.554.398
1,287,005
Grants
University of Bristol - Premier Lecture Thealres
2.000,000
1,500,000
3,554,398
2,787,005
The directors look out a 25 year lem) repaymenl108n with CAF of £2.100,000 on the 31st March
2015. secured on 5, 35 and 37139 London End, Beaconsfield, Bucks HP9 2HW.
The monthly repayments are £14,640.42. The current interest rale has been fixed al 8.1701
for 2 years endlng 20 July 2026.

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
e26
NOTES TO THE ACCOUNTS- 30TH JUNE 2024
12 Operatlng Lease Commitments ILessor}
The Chalily has entered into a numbgr of non-c8nce118ble operating leases as lessor for which
the total of future minimum lease payments are as follows..
2023
2024
235.753 Within one year
334,163
319.210 Later than one yea¥ bul within five years
298.531
Later than five years
554,963
632,694

BILL BROWN'S CHARITABLE SETTLEMENT OF 1989
Pa
e27
APPENDIX.. GRANTS PAYABLE
GRANTS PAYABLE..
Amount
Institutions
The Charities Aid Foundation Trust
Alzheimer's Society
Alzheimèr's Support
Barn8rdo's
Re-Engage Lld.
Crohn's & Colitis UK
Debra
Leon8rd Cheshire Disability
Macmillan Cancer Support
Marie Curie
Multiple Sclerosis Society
RAF Benevolent Fund
Treloar Trust
RNLI Lyme Regis
70,000
7,500
5,000
3,750
7,500
7,500
7,500
7.500
15,000
7,500
7,500
7,500
7,500
5,000
166,250
Total grants and donations made lo institutions during 2023 amounted to £￿fiQ