The Brooklyn Collection Trust
Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2026
McCleary & Company Ltd Garvey Studios 14 Longstone Street Lisburn Co Antrim BT28 1TP United Kingdom
Charity Number: 109459
The Brooklyn Collection Trust CONTENTS
| Page | |
|---|---|
| Reference and Administrative Information | 3 |
| Trustees' Report | 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 10 |
2
The Brooklyn Collection Trust REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Charity Number in Northern Ireland
Independent Examiner
Mr George Clarke Mrs Frances Morrow Mr Ronald Charles Edwin Galwey
109459
McCleary & Company Ltd Garvey Studios 14 Longstone Street Lisburn Co Antrim BT28 1TP United Kingdom
3
The Brooklyn Collection Trust TRUSTEES' REPORT
for the financial year ended 31 March 2026
The trustees present their Trustees' Report and the unaudited financial statements for the financial year ended 31 March 2026.
The financial statements are prepared in accordance with the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Trustees' Report contains the information required to be provided in the Trustees' Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees.
The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements.
Governing document
The charity is controlled by it's governing document, a deed of trust.
Financial Review
The results for the financial year are set out on page 7 and additional notes are provided showing income and expenditure in greater detail.
Results and Dividends
At the end of the financial year the charity has assets of £342,000 (2025 - £342,000) and liabilities of £0.00 (2025 - £0.00). The net assets of the charity have decreased by £0.
In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re-election.
Compliance with Sector-Wide Legislation and Standards
The charity engages pro-actively with legislation, standards and codes which are developed for the sector. The Brooklyn Collection Trust subscribes to and is compliant with the following:
■ The Charities SORP (FRS 102)
Approved by the Board of Trustees on 14 April 2026 and signed on its behalf by:
________Mr George Clarke Trustee
________Mrs Frances Morrow Trustee
4
The Brooklyn Collection Trust STATEMENT OF TRUSTEES' RESPONSIBILITIES
for the financial year ended 31 March 2026
The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act (Northern Ireland) 2008.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether the financial statements have been prepared in accordance with applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees confirm that they have complied with the above requirements in preparing the financial statements.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board of Trustees on 14 April 2026 and signed on its behalf by:
________Mr George Clarke Trustee
________Mrs Frances Morrow Trustee
5
The Brooklyn Collection Trust INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF THE BROOKLYN COLLECTION TRUST
We have examined the financial statements of the charity for the financial year ended 31 March 2026, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008. The charity's trustees consider that an audit is not required for this financial year under the Charities Act (Northern Ireland) 2008 and that an independent examination is required.
It is our responsibility to:
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examine the financial statements under section 65 of the Charities Act;
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follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
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state whether particular matters have come to our attention.
Basis of independent examiner's report
We have examined your charity financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the 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.
In connection with our examination, no matter has come to our attention which gives us cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 63 of the Charities Act
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the financial statements do not accord with those accounting records
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the financial statements have not been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)
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there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
We 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 financial statements to be reached.
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__________John McCleary FCA
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__________John McCleary FCA MCCLEARY & COMPANY LTD
Garvey Studios 14 Longstone Street Lisburn Co Antrim BT28 1TP United Kingdom
Date: 14 April 2026
6
The Brooklyn Collection Trust STATEMENT OF FINANCIAL ACTIVITIES
for the financial year ended 31 March 2026
| Unrestricted | Total | Unrestricted | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2026 | 2026 | 2025 | 2025 | ||
| Notes | £ | £ | £ | £ | |
| Net income/(expenditure) | - | - | - | - | |
| Transfers between funds | - | - | - | - | |
| ─────── | ─────── | ─────── | ─────── | ||
| Reconciliation of funds: | |||||
| Total funds beginning of the year | 5 | 342,000 | 342,000 | 342,000 | 342,000 |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds at the end of the year | 342,000 | 342,000 | 342,000 | 342,000 | |
| ═══════ | ═══════ | ═══════ | ═══════ |
The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.
The notes on pages 9 to 10 form part of the financial statements
7
The Brooklyn Collection Trust BALANCE SHEET
as at 31 March 2026
| 2026 | 2025 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed Assets | |||
| Tangible assets | 3 | 342,000 | 342,000 |
| ─────── | ─────── | ||
| Total Assets less Current Liabilities | 342,000 | 342,000 | |
| ═══════ | ═══════ | ||
| Funds | |||
| General fund (unrestricted) | 342,000 | 342,000 | |
| ─────── | ─────── | ||
| Total funds | 342,000 | 342,000 | |
| ═══════ | ═══════ |
Approved by the Board of Trustees and authorised for issue on 14 April 2026 and signed on its behalf by
_____Mr George Clarke Trustee _____Mrs Frances Morrow Trustee
The notes on pages 9 to 10 form part of the financial statements
8
The Brooklyn Collection Trust NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2026
1. GENERAL INFORMATION
The Brooklyn Collection Trust is a charity registered with the Charity Commission of Northern Ireland. The registered office of the charity is PSNI, Brooklyn House, 65 Knock Road, Belfast, BT5 6LE, Northern Ireland which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.
Basis of preparation
The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102".
Statement of compliance
The financial statements of the charity, which is a public benefit entity, for the financial year ended 31 March 2026 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102".
Fund accounting
The following are the categories of funds maintained:
Restricted funds
Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity.
Unrestricted funds
Unrestricted funds consist of General funds.
■ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity.
Income
Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
Museum artefacts
not depreciated
Taxation and deferred taxation
No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.
9
continued
The Brooklyn Collection Trust NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2026
| 3. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Museum | Total | ||
| artefacts | |||
| £ | £ | ||
| Cost | |||
| At 31 March 2026 | 342,000 | 342,000 | |
| ─────── | ─────── | ||
| Net book value | |||
| At 31 March 2026 | 342,000 | 342,000 | |
| ═══════ | ═══════ | ||
| At 31 March 2025 | 342,000 | 342,000 | |
| ═══════ | ═══════ | ||
| 4. | RESERVES | ||
| 2026 | 2025 | ||
| £ | £ | ||
| At the beginning of the year | 342,000 | 342,000 | |
| ─────── | ─────── | ||
| At the end of the year | 342,000 | 342,000 | |
| ═══════ | ═══════ | ||
| 5. | FUNDS | ||
| 5.1 | ANALYSIS OF NET ASSETS BY FUND | ||
| Fixed | Total | ||
| assets | |||
| - charity use | |||
| £ | £ | ||
| Unrestricted general funds | 342,000 | 342,000 | |
| ─────── | ─────── | ||
| 342,000 | 342,000 | ||
| ═══════ | ═══════ | ||
| 6. | POST-BALANCE SHEET EVENTS |
There have been no significant events affecting the Charity since the financial year-end.
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