THE WILLIAM BRAKE FOUNDATION REPORT AND F114ANCIAL STATEMEP FOR THE YEAR ENDED 31 ￿RCH 2021 THE MLUAM BRAKE FOUNDATION Forthe y•ar ond￿1 31 IAarch 2021 Roloronce and admlntslr*k)n InfOrn￿lIOn R•port of th• tru•tMs Ind•p•nd•nt audltorn, rnport Sl*t•m•nl of flnan¢lal actfvlll 8•1•￿• •h••t 10 Nol•s to Iho fkwiclal •tat•m•nts THE WILUAM BRAKE FOUNDATION REFERENCE AND ADMINISTRATIVE INFORMATION Charfty rOg￿rnI10n numb•r. I￿23244 Trust•￿. t)etrmh J Isaac Mrs P￿￿0p@ A Lw Mr m￿hael Trigg {Chair> Mr Phllb R Wd8on Offl¢l•l addr•M: Clo GIM Turn¥ Tucker 2 County Gate stacey's Street Maidsk)ne Ke ME14 1sr Audltorn: Crtr*e U.K. LLP Rrvernide HrA￿a 4W High Stro•t MaKI￿one ME14 1JH Sollcltorn: Gll T￿r￿T 2 County Gate Stacéy'i Streat MoKlstone K•nt ME14 1ST Accountants: Globe H¢)u Edipsè Pa Sittingboumo Ro•d Kent ME14 3EN Inv••tr•nt M•nag•rn: cazfjno￿ Capital 1 LorKlon Wall Placo EC2Y &4U THE MLUAM BRAKE FOUNI)ATION REPORT OF THE TRUSTEES The trustees present their TWI and ffianclal stslements ofthe Cha￿ for the yew ended 31 March 2021. The Wlliam Brake FO￿￿atrOn is an unincc*porated tnrt con8tituted under a Trust Deed dated 17 May 1993. 11 1$ r8gbsl8r8d as a Ch￿ with th8 Charity CorY¥nis5K￿ in ErvJland and Wabs. tharity number 1023244. The tnjsl wa$ established by an initial gffl from the late Wliam Brake and overthe years 8ddrtional have beèn mado. Thè trust does ncé fvNI rakno arrtl ￿ks lo ￿rry wt it8 obl¢¢tfr4¢8 Ihrouoh tho $teww(Iship of its eX￿ting resoufces. The trustees have dr￿n up a ¢thry>rehen8r¥e Ctsje d G(Nem￿ce whth provld88 a dètailed 8unmary crf the trust's ObPct￿. strat0g* arKI pr￿•. Tl¥s C(wJe wll be kept undor constant rovthv arvj updated a8 cossary. Trustees we appc4ntad by the existing tNst805. Thwe li ￿ fomwl Inductlon process but rw truyt888 arè athii8•d of thelr ra￿, rejponsibilrties and duties ty the •Mtsng trustees. The tnffjtees hold fomwl mèètings èxh year to ccxlsidtr grant makiNJ. inv88tmont•, rtt•n4•1 pJi¢te8. The doy to day administration is carrie(I by the trustew. Rl•k m*nag•m•nt The trustees hove reviv￿1 th8 rnaicK rlsks to whth the clwity 18 systems have been 08tab1￿hed lo mrtvate t￿$8 r￿$. ObJ•ctfv•s and acllvltlm lor th• publlc ben•fft The charity wa8 forn￿1 lo support one or more •xckniW chwilablo Institutioni by tho dlstrfbulion of the income and a prowtkin of the caprtal gains arising from twrfi Invtstm•nts. The rn¢i>*nl ¢h•dli can vary from year lo year at the discrntion of the trustee8. Thè charty Invit￿ applulm from th• V¥fjl&am Brak• famity ts knding ofworthy r•pi$tw•d ¢hwltie• •a¢h yéar. wrth a portiw￿r emphasis on k¢81 charilie8 W￿re the famity krKM the charty's rePr￿￿tatIve. T applications ara rovith¥eA against the8e criteria and tf approv•J tha funds are re￿ased. Th¢ trustees havè cryry)I￿d wilh thèir und•r S¢d￿n 17 olthe Chariti•$ Act 201110 h•v• du• r•gard to tho Charity Commi8ik)n'# genera guidance on publi¢ benefft therèln. The truste￿ have given partieLl•f con8ideralion to Iheir future v18K￿ of the charity's thit. 188 with rwrd to continuing to wovide pubk ben•fiL The tru$l ha$ not ￿dert￿en any fundraiJirv4 a¢iMbes dunng the yw. Achl•voments and porfornmnce During the year the chanty m&Je ch•ril•bh dDnatlon• d £598.314 ta ch•rltd)lè In8tltuiion8. R•l•l•d p•rtl•• Detall8 ol related partle8 We W￿lded in Notè 13 to the accwnts. Flnanclal r•vl•w The income from investr7)enls durrng tr* yearwas£169,80012020'. £148,431). Ch*rft8b￿ donatloni lotaNlng £598,314 (2020.. £535.9851 w8re maje lo charrtable in51itution8. AS at 31 March 2021, the charity had frae regeN88 amounlinq to £80.309 12020: £55,067) after transferring £495.000 from the Expendabl• Endttwmenl Fund. The endowment fvnds al that date *ere £13.410,109 (2020.. £10,728.232). THE ￿LLIAm BRAKE FOUNDATION REPORT OF THE TRUSTEES (conlln4￿dTr Inv•sbn•nt pollcy and wrfornMnc• In accordance wrth the Trust Deed. the Irustaes hav6the pchvarto invest in Such stctks. shar88, Investments and propety as they see frt. tTUStees have engage(I CazerKWg Captsl as investrngnt managers and the 1n￿strnent stralegy ￿ gearwj tcr*ards capital grtr•rth. The tru8tee8 have re888essed the risk8 fxing the charty with regard to cov1￿19, they have wduded that thi5 do8s fK>t repres￿t a major risk. The ¢hgriti88 which look lo the w111￿ Brake Foundation forfin￿G￿9l supportexh year are in gen•ral in need of additi'onal fundin9 but the tru$lees will manage ttr*'r expectthns in order to P￿e￿ the trust's financial resource8. The IN8tees have also reassessed the risks invoW with in¥•EstirKJ the charrty's funds and have dechled to reduce Ihe rfsk profi￿ down slighlty by 4r8thng not to invest any lurthw in private eouty or propety fund8. Th• existirg iTrMtrMnts of this typ• wil be njn dMI arKI IlqidaW over the next years. Th• inv¢8tn*nl p•rf(Xrnon￿ ol the pthlio * 88 fdlm... Porrfollo 31.4% 36.8% 67.2% ¢￿er year er three yearn l>rfer fve yeaT¥ The Trustees conslder that the ARC Sleding Balanced Asset PCI intsx is an ¥>proprlal8 benchmark and the P￿￿01￿ heia by the Trust h•$ p*Ityn￿d In the overnll wfonn•nce of thè ARC Sterllng B818nwl AJ•¢t PCI ind•x. Thè Inv•stmenl income for tho yoar wa8 £189.800. comparnd to th• targ•t *Kom8 of £r2.000. Tho Income tsrget for th• ¢(￿ing y•or is £150.000. Re•om• pollcy Al the sheet date the ¢hariW$ tctsl funds 8n¥)unted to £13.490.41812020.. £10,783.2991 ofwhkh, the charty's free re5erye8 hekj in the unreslrthd funds ￿re £80,30912020.' £55,067), repre8enb.ng income whKh h08 not y•t bem distrt*ut•d. The charty fr￿ re80rve8 prclect Ils current aCtWrt￿. in Lyder to allthv the trustees lo meet their ponsibrtilies wd to ensure that it 4X*ntinuos to opornte on a goro concwn basis. The Irust8•s have examined the neod8. risks al￿ ChaI￿ng¢S faeed by the th*ty in bcth thè short #nd mèdlum tèm, aljng with rdevanl financial foreca8ts, and have fofmulated a pdicy to meet those need8. The tru81ee8' policy ts that 811 of the surplus I￿orne Should be d￿tributed thmugh chalilab￿ donation8 but the free reserves representing undi$trbuted income should not bo188$ thon i)né yèarfs oyrating expénsos whth are eurrèntty forec88188 £20,000. At 31 March 2021 the free rB8eThes of the charity were therefore £60,309 more than th• largel rns•p4M. Stat•m•nt of tw8l••s' r•8ponslbllltl The Trustees afe ffj#ponwble for prtyarir¥J the Tru#teès' Report and thè flnancial a￿￿eTr￿nts in *cOrd¥￿ with applicable and United KiryJdom Gemrnly Accept•d Att￿ntir￿J Practice (United Kingdom Accountlng StarKJard•l. The18w applicth to charities in England and Wales require8 the trusteu to prepare financial statements for 8ach financigl year whKh gNe 8 true and fair of the state crf 8ffaKs of the chrity and of the incomlng resources ar￿ application of resources d the charity for that per*)d. In FK8paring these financial sL*aments. tho trustees we requirtyj to: 8el8ct suit&)lè acts)untry pol￿18$ appty thèm crmistonty: observe ts methods and pri￿￿￿$ in the Ch¥iti8s SORP IFRS 1(Y2).' makejudgements and estim*es that are rnasOnab￿ and pnthl; stat8 whetharapplicable UK accounting standards IFRS 1021 hav8 been follNed. subiectto any materAI departur88 di5cIo8ed and explained in the financial statem8nts', prepare the financial slatemenls on the going concern basis unless it 1$ inapproprigle to presum•that I chrty wll conlinue to opwate. THE WIWAAI BRAKE FOUNDATION REPCIgT OF THE TRUSTEES {contlnued} The trustees are responst*le forke8ping adequate accounbrvj records thatare 8uffktentto show and explaln Charty's transactions. disclose with reasonable ￿racY at any twne the financi￿ position of the charty and enable them lo ensure that the financial 5tatem8nts with the Ch¥ities Act 2011, the Charities (Accounts and Repc¥ts) ReguLatbJns 2008 and the provW￿8 of the charty's constitution. Thty are also responsible for safeguJrdir¥J the assets of the charrty arKI hence ftr taknng reasonable steps for the Prevent￿ and detect•)n cl frwj and Othor Audltord A resolution to reaFpoint Cr(Y•Ary U.IQ LLP a8 a￿lit0￿ to tho ch*ty wlll be propose(l at the wbnual meeting. BY ORDER OF ThE TrUSTEES M TRIGG TRUSTEE INDEPENDEKf AUDITORS. REPORT TO THE TRUSTEES OF THE YALLIAM BRAKE FOUNDATION Oplnlon Vla have audited Ihe financial stalemenls cl The Wlliam Brake FO￿dat￿n for the year ended 31 2021 wh￿h conwrise th8 Stslfjmgnt ol Financ￿1 Activth, the 8*nce Sheet, thg Statement of Ca$h Flows and notes lo the financial statements, Ind￿lIr￿j signrfKanl xcounting policiès. The financial repc*ting fran8wc*k that has been app￿ed in their preparthn 18 applicabl8 law and United Kingdc#n Accounting Stsndards, inclLvJing Financk¥l Rwting Standard 102 The Financial Rewting Standard applicablè in the UK and Republic of Ir¢l8nd Iunited lfjnfvn Ganoralty Accwted Acc￿nting Prxtlce). In our opinlon t￿ fin¥rtial statemenls.. gr4e a tn￿ and fair viww of the state ￿ tho charit￿9 affairs as at 31 Maich 2021 and of ils incoming re80urces and •Fplic*i¢)n of resowces. intludwy tis and gxpond*ure for th¢ yew then ended.. have been propety prep•r•d in aCccrfd￿ with Unttèd Kingdom Gen•ralty Acceptsd Ac¢ounlng Practice,. ar*d have b••n pr•par•J in acc¢xd￿ with the requiremont• of tha Chwitm Act 2011. B4•1• for oplnlon l•lo ￿r￿lUcted our audlf in 8cc(xdaru y￿h Intwnat￿l￿I blwldwds on Auditing {UK) {ISAs {UK)I apPI￿able kn¥. Our rewistiilities under thoso stsrthrds are further de8crtsa In the Auditor'8 r•8ponsibllllle8 for the audit of the ffinanciil st*ements s•Xion of our reporL We are indopgndent of Ihe charity in accordance t*Mh the ethK¥I Tequirnment8 that aro relevant to our audrt of the financial stalom•nt• in th• UK. including the FRC'S Elhi¢81 St￿dard. and have fiJKiled our other èlhl¢•l rewn8ibilitie8 in accordance with these r•quirements. We bellwe that tho oudrt ewdence wè have obtair￿d 18 8ufficI￿1 and apprwlate lo provKle 8 basis fry our cpin1￿. conclu￿OnI r•l•tbng to goln9 conc•m In 8udrting the fin•ncwl st•t•ments. ¥M ConCk￿d that th• Iru8ta06' of the going c¢)n¢ern basls of accountlng in ttK• PTyratk)rt of the financlal $l*trrwls ro appmpriatè. the vmk we hav• pthfom)•d, ￿ hv40 rKA id￿tified any matwlal UrK•rt•intI￿ Telating to ev•nt• or ¢ondrtions that. individualty or e¢llectivety. may cast $wJnfficanl doLI)t on the charty8 abilty to conllnue as going cr our a￿lIt R••pon•lbllltlM of trustw• A¥ eXF4ained more filly In Ihe tru8t08s' respon8ibil#le• 8ts¢wnent #et t)n pay S. t￿ truiteos are responsi￿￿ lor th¢ preparation of th8 finawal slater￿nts and for bdng Satisfi￿ that they giv• a trué and fair view. al￿ for such internal ¢ontrol as tha trust88s detem)iM is I￿985ary to Mablo the praparation of flnanclal JtrteThnts that •r• fr•• from m8t•rral misslatemen( vthether duè to fraud or error. In weparing tho financial statements. tho tnAtee8 w• r8•ponsible for al￿811r￿a tho ch•rty's abilty to contsnue #s a going conc•m, di8dosing. as appkalAe. matters relatod lo going ccwm ar+d using Ihg golng Concern basi8 crf accounting unhss tho trustO08 dthar inte￿j lo l*autht• the chanty or lo ¢a•ie opefation8, or havè no feolislic attemative bul to do so. Aud5tof• Mpon¥lbllltlM for th• •udtt of th• flnan¢l•l •t•tsm•nts W6 have b•en appointed •8 auditor und•r 88¢t￿n 144 of the CharitM Act 2011 arKI wort In xcordance th I￿ Act and relevant regulaliorn made or havirq etst thereunder. Our ebjectiv￿ are lo obtain rvasonable aSsurar￿• aboLrt Whet￿r thg finarKk41 #lal8m•nls a8 a whole are free frC￿ maler+al misstslomwrt, w￿ther due lo fraud or èmx. arKI to r68u8 ￿ audttorfs report that Include8 our opinlon. Rea80nabl8 wurance is • high level of 888urance, but is not a guaM186 that 8n audit conducaed in act￿rdance with ISAS (UK) vwll always dotect a materi•l misstatement s¥fien tt exi8t8. Misstatements ean arise from fraud or error and are Cons￿ material rf, iTrJividually or in the agpregalts. Ih&y could rtsSOnab￿ b• expected to inllu•nce tho o¢onomfjc deci8k￿¥ of users taken on the ba8L8 01th0 financlal statfjmerrt8. IrregularitRis, including frawj, are instances of r*On<￿pIlanu with Iws and reguLql￿nS. We desKJn procedure8 in line with our rnsponsibilitigs, Outlined •bove. to deled material misslatemont$ in respect of irreguLgrf(ies, i￿lUding fraud. Tho extent lo our pr(Kedures are capable of detectwig irwu1arrti￿, in¢￿Ing fraud is delaikd bekAv'. We ijblained an understandiry of the *1 and regulalory franwhryks within whth the ch8ritabl& company cperates, on thxe laws and re9ulalions that h*0 a direct effect on detem)Inalk*n of material amounts and disclosurns in the financkgl statemerbts. The laws regulatio￿ we con8idered in this context were the SORP 2015. TO TFE TRusfEES OF THE IIiUAII BRAKE F¢)UNDATION {C¢Xrtln￿d) Audlt(•V• r••ponslblttlas for1￿ audtt of th• lknandal •tatem￿ts {contlnu•dl id8ntif*d tho gre•te8t ri•k of mthal iiiwt on finanual Statem￿ from lffegulaTikne8. including fraud, to bèthèoverride ofcontrds by managen￿l Owawjit VC¢￿1uf•$ to wpond to the80 mks Includ&.' luiry d man•gwnent •bwt tho Group's policies. •nd related contrds r•garding c￿P1ance with and regul*K)ns and rf I￿re are •ny instanc88 of non&¢W rolat￿r￿h1p8." testlng the appropri•tene88 ￿l￿rnal entries racord•d in th• g•ntA othr Adju8trn•nts mode In the prepar8tw of t￿ finanu•l st•tement8', and Afurthgr doscrwon of ow r•8ponsbillle• ftythe audl of t￿ fin￿￿￿1 8tat•ment8 kn b¢•led on the Fin￿r￿lI1 auditorfs rnwl. Thii report h made 8okty to the chwlty'8 tru8tee8. as a LW, in acc4xdanc8 wllh Part 4 cl the C￿nI1 (Accourts and Roports> Regulaticrn 2008. Our audK work bgen uTrJert4ken •0 that w• mlphl state to tho charty's tfUlte￿ lkne mattern w• ar• rnqUiT•d lo state lo them in an •uditorfB TOPOrt and for oth•r purp08e. To thé fvll¢•t exlent pemiitteAI by I￿, wo dc¥ rL* xcept or a••um• responslbllty to onyon• Lthor than the chwty •ffld the chanty's tntst•ts # a bo*, fvr our ?￿di1 ¥th. for thls report, ￿ for th? opiniL)n8 W• ho¥0 formed. D•rrnn Rlgd•n For and on b•h•ff of Cro*w UA. LLP RpM•id• Hou 4tW Hyh Street Maidstono Kert ME14 1JH 3110312022 THE MLUAM BRAKE FOUNDAlloN STATEMENT OF FINANCIAL ACTMnES For th• yoar end•d 31 Ilarch 2021 unr•*trk￿ End(￿￿ont fund• Total Total funds funds 31A.2020 Ineom• •NI •ndrywm•nts from: Investments Income frt¥n inv￿tMentS 169,8 169,8¢XI 169,800 169.800 148,431 148,431 Total Incom• •nd •ndowm Exp•Trdliur• on: Raising lunds Inveslrnent menagenwrt costs 3 36,403 35.382 Ch8rf18blo actrvit Total •xp•ndltur• 619,462 855,865 819.462 655.865 553,186 588,568 N•t {•X￿ndIt￿r•1 •nd D mov•m•nt In funds b•forn galn• Ind 10•8M on Inv•stm•nts (486.(b5} 1486.0851 (440,13n Nel gÈinsllkJs805} on inv¢•trnents 7 N•t Incomd(•xp•ndltur•l 16,307 1469.758) 3.176,877 3.176,877 3,193,184 2,707,119 1369,8991 (810,0361 Transfers funds 495.¢J(Kl 25,242 149S.000) 2,681.877 N•t mo¥•m•nt In fund• 2.707,119 1810,038) R•eon¢lllatlon of funds: Total funds brought forw•rd Tol•l funds c*rfl•d foNi•ftl 55.067 10,728,232 10,783,299 11.593,335 £80.309 £13,410,109 £13,49J,418 £10,783,299 12 All Inwm eXp￿d￿Ure d*ives from contlnunw o¢tr¥i1￿. The notes on pages 11 to 19 fomi F¥rt 01th￿e a¢¢￿nts. THE ￿LuA￿ BRAKE FOUNDATION BALANCE SHEET As •t 31 IA•rch 2021 31a.2021 31.3.2tr10 Fixod ￿$•t4 Irweslments 13.505,394 10,847.247 Cun•nt •ts•ts Cash at solKi Cash at bank 3,109 2.038 7.000 2,038 9.038 5.147 Crgdltorn: amounts l•llng du• vAthln one yoar N•t ¢urr•nt (liabllltl••) 20,123 72.986 (14.978) {63,948) Cr•dlorJ'. amounts f4111ng du• aft•rono y￿r Totil n•t au•ts 10 £13,49J,418 £10.783,299 Th• lund• of th• ¢h•th: Unrn•trfct•d fund¥ Genaral fvnd 11 80.309 55,067 Endomnent fvnd• Permanent end¢JwTn•nt Expendable end(wment T¢)t*l charlty fund• 12 3.167.572 10,242.537 £13,4￿),418 2,443.882 8,284.350 £10,783,299 AppYov•d ty the trustees on ... . The notes on pages 11 to 19 fomi p*t ofttw account& 10 THE ￿LLIAm BRAKE FOUNDATION NOTES TO THE HNANCIAL STATEMENTS 31 M*r¢h 2021 Accountlng pollcl•s Basls of pfwratlon and a88vJ8m•nt of golng conc•m Tho financial statoments have been r*epored uryler the historical cost convenllon as M￿￿￿8￿ by the revaluation of listed investments and In accordanc• W￿th the Charilie5 SORP IFRS 102)-A¢counting and Reporting by Chwib'es.. Slatement of R￿oMMe￿ded Pra¢tbce applicable lo Ch￿￿e8 preparing their xcounts in accordancè with the FinwKial Reporting Slandard ￿pIUble in the UK and Republic of Ireland (FRS 102} {•Ye¢tNe 1 January 20191. the Financwl Re￿rtIng Stsnd&Td applKabltr in the UK and Republic of Ireland (FRS 1021 and th6 CharlUes Act 2011. The Charlty ci)nstihrtes a p￿*1￿ benefrt erty M defired by FRS 102. The tru8t8e8 c¢M8Klér that there are nc* malwial uncertainti68 aboLrt the tru8t'J abilty lo continue 88 a going concern. Imth respect to tho next reportirvJ perioJ the most 8ignfficant area8 of uncertainty that affect t￿ c81rying valu8 ol a880ts he*J by the trust are the knvel of investrnent return and the perf0m￿nCe of inv¢stnKnt ffwkets (seethe in¥e8tmenl polbcy arKI perfomiance and rk%k man•aement 80Ctkn￿ ￿ tho tnMtee8' ann￿1 rw for mm inftxmationl. b) Fund a¢countlng Genera lunds are av￿￿1& for u8• •t Il* diKlet￿ ol the Iru8ta88 kn lurthoraK• of the genernl objwlNes of tho ch￿ty and have no restrict￿& on I￿1r u•e. Tho pwmanent •ndthThnt fvnd hekl in pewuty. *fiereaB tho of tl* èxpondable •nd¢)wment fvnd ￿ be used for the purpos￿ of tho thwity rf the tru8t8e8 80 delamiin8. Ea¢h lund 18 allocated rt• prq)ortton of gain¥ and to¥¥es 8ri8ing in the perknd. The irKon* d the endowm8nt fund$ 58 unr8slrthd arxl is Ir￿1￿j•d in gor￿1 fund6. Incom• r•cognltl¢)n Investm8ntvK(yne Inveslmnt irK8B85 wa cornbined in the St8tem•nt of Financial Ath'vities. g) R•¢ognhlon of Il•bllltl L￿blI￿leS are rec(Ydni8eoJ whem ￿ 0￿198110n vl888 to tran8for •conomic ￿n•frtS M a result of pa•t transaction* or évmts. h) Forelgn currnncy trnnskntlon A8set8 and Ilabililies denorninat•d in forniin cuffencies are translated Into slethng at the rates of •xchanga ruling at the balance sheet date. Trnnsact￿s in forri9n currencies are tran5kled into sleding at th• excharKJ8 rate on the date of thè tran8th￿. Exclwge drff•rencM are teken to the s￿t￿)ent of FinanrA4 *th"vit￿¥ fix the period. Incom• from Inve•tm• 313.2021 Unr••trlct•d funds 31.3.2020 Unr•8trlctod fund• DMdwKl•- UK funds Ohhorn fund8 112.039 1,874 83,142 Intere¥t recerrf&)h . on cash deposrts . on UK Goverrmenl bond• - ¢)n offshom b¢￿d funds . share of interest- equty funds 1,131 2,879 74,191 5,C60 40,258 Share of gan8- privaté •qulty fuThts 23,326 1.498 Foreign exchange I￿)88￿yg8InS 17.527) £189.800 530 £148,431 Investm•nt m*nag•m•nt ¢0sts 31.3.2021 Unrestrlcled funds 31.3.2020 Unre•trlcted funds Invgstment manapi*nl fees £36.403 £35,382 12 THE WILUAM BRAKE FOUNDATION IK)TES TO THE FINANCIAL STATEMENTS 31 March 2021 Iconllnuod Analysm of charltablo •xpenditurn 31.3.2021 Unr•*trlcted fund# 31.3.2020 Unre•trlcted fun Don•tionx rn￿• Alzheimerf$ Re8earth UK Akheimerfs SOG Anthony Nolan ARC Cancer Support The ArtB Swiety Pot•r¥fvld Asplre Bamado Bliss The Brain Tumour Charlty Brain Matter Charty Bfain Tumour Researth Canyign Breast Cancer Kent Chikl Bereavement UK Clinical Human Faclor8 Group Tha Clink Charty Cc4Y¥nunty FourMJation fty Wakefield Cosm The CothJld Inslttute of Art Fund Country Holldays Inngr Clty Khls Cro$Jwèy$ Curg Parkinwns Tn￿t Cynthia Spenw Hos Daughters of The CDXS The Davkl Nott Found DEBFIA Démentia UK Diabet68 UK Dove Ccrttage Day HoipK• The Duke of Edinburgh's Awwd EdUcat￿n81 Danc6 Provisk?n8 Serv Eolvard Shtr*l8r Foundation EGHO Fight 8l•dd•r co￿r Filmar Hall Trust Friends of Beecroft Gafllen Primary S¢1￿￿ Friends of Headcom Church Friends of Lichfiebj Cathedral Frtends of St N*holas Church Futurè Heahh Africa Gauchers Ass(Ki8tion Glas$ Door Hc¥nel8ss Charity The Guildhall SctwxA Trust Guys & St Thomas. Charity Fund Hanlin Fi8tula UK Headway- The 8r8in Injury *A8oclalkn- Kent Hearl Ce115 Foundati¢)n The Heart of Kent H05pi¢e Th8 H818n Bamber Foundation Home Stsrt Buster 3.000 1.000 2,000 1,000 3.ty)0 15,O¢XI 10,000 1,000 8.500 2,LKIO 2,000 35,000 2,000 5,000 2,000 5.000 2,000 10,000 10,000 1,000 2,000 7,500 1,000 2,000 1,000 2,000 2,000 1,￿0 1,500 1.000 20,000 2.000 5,000 1,000 20,000 2,000 5,000 5,000 1,000 2,000 2,000 10,000 2.000 2.000 2,000 1,000 5,000 2,01)0 2.000 1.000 3.000 7.CMJO canyed foFwaft 189,LYX) 173.LlXJ 13 THE MLUAPA 8RAKE FOUNDATION NOTES TO THE ANANCIAL STATEMENTS 31 IA•r¢h 2021 (continued) Analyskn ot charltable expendllur• {¢ontlnu•d 31.3.2021 Unrnstrlct•d 31.3.2020 UnrMtrid•d fund• Donatlons m•d• (contlnuad) 189.0 IT3.CQO H¢)pe Foundat￿ Cancar Researth H¢Jpg 4 The Worhj Homlman Museum Hospilalty Aclion Irish ca￿@r Sc¢iety John Amirtage Memofi•l Tru8t John Muir Trust The Kent A88¢)CL¥lh￿ for the BINid The Kont MS Therapy Unit Tho Kinmerid98 Tn￿1 King's Afms King's College Ho•prto1 The Leagl￿ of Rem8mbfance Th6 Leonard Cheshire O￿abIlty F￿￿tstil Lleènsèd Trade Charity Lord Wandswthth Cdl¢90 Macmillan Cancer Support Mecmllan Midhurst M8id8tone MerKap Charitable Trust Mane Chance sar￿￿•ry Marte Curie Medical Detecti￿ Dog• Meningli8 Re8•arch Fwndakn meM￿ld3 The Mikè Collingwood Memorlal Fund Miiifigld Sth(K)l FouTrJation Mind 8coy More House School Motor Neurone Dise880 A#wcwtson Museum of the Home Th6 Nat￿nal Portrait Gallery Nornianity MerrK)rial Tru8t 1,000 1,000 2.000 1,000 1,000 4.000 1,000 2,000 1,000 2,000 1.000 15,000 1.000 4,000 1,C(*O 10.000 15.000 15,000 S,￿0 15.0 1,000 10.000 10,000 15,000 s,￿0 2.000 1,000 2,0(h) 2.000 2.000 2.000 2.000 5,000 3,000 2.500 3.000 25.000 5.000 3,CQO 2,500 25,000 2,￿0 25.￿0 25,000 1,000 NSPCC 10,000 Open Arni$ Ma￿1 Tho Orpheus Trust OUT Lady'8 HospK8 and ￿ Seryk The Oxford Tntst Parklnsons UK Pega8U8 Gymn8sti¢s C￿b Petersfield MLwum Limited Petersfdd Youth Theatre Phyliss Ta￿11 Hospico Caro Rainbow ChikJr8ns How> The Rosemary F¢)undatv)n Royal Academy ofAJts 4,000 1.000 1.000 8,500 2,000 1,000 3,000 1.000 1.000 2.000 50.000 8.SIKI 1.01)0 3.000 1,000 1,000 5.000 25.000 401.(XXI 391500 14 THE WILUAM BRAKE FOUNDATION 140Te8 TO THE ANANCIAL STATEMENTS 31 March 2021 (contlnu•dl Anatysls of ¢h4rllabh •xp•ndttur• (￿ntInu•d) 31.3.2021 Unr•strkted fundts 31.3.2020 Unvostrlcl•d fun(h Oon•tloM madè Icontinu•d) 401,(1(XI 393,500 Tha Royal Agricumural Benevc4ent In8Itutknn Rutland Citizens AdvKe Bur The Sam Wesl FOund￿'9n SANDS sChC￿ ol Hard Knocks Scotch Colkge Adele￿• Th• SGripture Union Srnarden Sp)rts and L•iiur• The Smth Famity st Jamès's Place Ch8rltable Found&ion st John'8 Ambulanco St Peter'8 Church Strokg Association Sustrans Liniled sUttC￿ Valer￿1 S¢hool G•rnral Charitablo Tru Tate Galkryry Thomas Corwn Fr￿nd11th for Ch Traloar TN8t UK Youth Universty of West London The Victoria & Albért Mu5•wn VBion Aid Oversea• The Wallacèa Tru8t Wat8r Al The Weslmnsler Abbey Foundatson The Vlhilley Fund lor Nature nchegler & Di8trict s￿rt￿8 IIAnnicott Found8ts"on Just Giwng.. North of En9lar¥J Chldrnn's Cancer ReS08￿h MNDA 5,0 10.000 1,000 1,000 1,0 1.000 5.985 3,000 2,000 28.467 3.000 10,000 2,847 1,000 SCQ 1,CK)O 10,000 2.CrtlO 2.000 1.01)0 2,000 3.WO 15,000 20,000 15,000 20,000 2,000 (S￿) 1.IYJO 5,000 60,000 2,0￿7 1.OCpJ 1.CKJO 598,314 535,985 Gov•m•nco co•ts Legal fees {ncludirKJ tr￿10? Thxxkl Audit fees Accountancy f•es Bank charggs 10.896 8,891 4.080 4,230 4.230 21,148 £619.462 17.201 £553.186 15 THE %￿LuA￿ BRAKE FOUNDATION NOTE8 TO THE FIMANCIAL STATEMENTS 31 March 2021 Icontlnu•d) Analysls of chafllalkn •xp•ndltur• (¢ondnu•d R•concllS•tloTh of donatlom PAy•bl• 31.3.2021 31.3.2020 C(xMiltments at 1 Aprl 2020 Commitment8 In the yo8r Donat￿n$ pawj wi the year Comnwtinents at 31 Mwch 2021 100.000 535,985 1585,9851 £50,000 598.314 (648.314) Commllm•nts •t 31 March 2021 ar• p•y•bl• •• foNow•: Vffthln one year After mcK6 thn ono y88r Commltrnents at 31 Mar¢h 2021 so,00) £50,000 The charity had no fvlktkn• ¢quN•l•nt wrpIo￿. exe￿Ing Iru$to•• duriTrJ th• yow12020'. Nir). T￿ trust￿* n¢rthw nor waN•J ary ¢molum•nts duriTrJ the y￿r (2020 .' £Nill. No reimbur5erwt of expen￿• has b••n ffl￿le or IB du• to ba m•J• to any tnJ8taè durlng the y¢¥ 12020 .' £Nill. N•t Incomel(•xp•ndlfvr•l Thi$ is Slated after charging: 31.3.2021 31A.2020 Audftor's r￿U￿ratIOn- Jud £4,080 N•t gaIn￿[lau￿) on In¥••lm•nl• The net ￿1n￿(lO¥s￿l on investments *• an*lys¢d as folkhvj: 31.3.2021 31.3.2020 Unrestricted l￿d8 ErKi¢y*ment funds 16,307 3.178,8TT £3.193,184 {1,490) 368,4091 £1369,8991 16 THE WILUAM BIIAKE FOUNDATION PIOTES TO THE FINANCIAL STATEMENTS 31 Alar¢h 2021 (conllnu•dl Fix•d aM•l Inv•Stm￿fj 31.3.2021 31.12020 ma￿et Val￿ at 1 April 2020 Acquisitions al etht Sale proce8d$ disrmxals ProfiUlb)8sI on revaluation Marf¢et value al 31 March 2021 Cash at bank awaibrwJ inv•strn8nt 10.310.972 2.970.073 (3.491.103) 3,193,184 12,983,126 522,268 £13,505,394 10,914.586 644,233 {877,9281 {369.8991 10.310,972 536,275 £10.847.247 Inve8tm8nts at mwk•t Val￿ ￿nY18•d.. UK investments Forest income furKI Real 68tato 8.847,840 6.7T1,741 509,149 Bond funds Private equty fw Commodit￿8 Unconolrained funds 771,583 720.345 459,003 2,184,355 £12.983.128 2,112,729 568,2n 349.081 £10,310.9n Hkgtorical co8t £6,608.871 £6,483,456 Cr•dltorn: Amounts falllng du• wlthln on• y•ar 31.3.2021 31.3.2020 AccnJa18 Donations 20,123 22,986 50,OC#J £72,986 £20.123 10 Cr•dttor8: Amounts falllng •ft•r morn t￿n on• ymr 31J.2021 31.3.2020 Donalims 17 THE MLLIAM BRAKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS 31 Ma￿h 2021 (¢ontlnued) 11 An*#i# of n•t •M•ts bet**•n lundB- ymr •nd•d 31 March 2020 mianent •ndo4ts7nent fund• expwd•bl• •ndowm•nt Unr•slrkted fund# lund* Total Investsnants N8t current {labilitios) 2,443,882 8,284.350 119.015 {63,948) £55.LE7 10.847.247 183,948) £10,783,299 £2.443.882 £8,284.350 An•tysl• of not ••••ts b•twn fvnd¥-y•4r •ndod 31 Mlrch 2021 P•fm•n•nt Exp•nd•bl• •ndowm•nt ondowrn•nt lknr•strlded fund• lund• funds Total Investm￿1# Nét ¢urrent (1'olxlitM) 3,187,572 10.242.537 95,285 114,976) £80,309 13.505,394 114,9781 £13.490,418 £3,167.672 £10.242.537 12 An•ly•h ol ¢h•rltabl• lund•-yo•r •nd•d 31 M•rch 2020 B•lanc• al G•ln• •nd 01.042019 In¢om• E¥p•ndltur• loMM Tran•f•rn 31.03.2020 Unrestr￿t￿ fvnd8 46,694 148.431 (1,4901 450,000 55.067 Pemanenl end(Ymn￿ 2.524,427 (80,5451 2.443,882 Expendab￿ end(ywm•nt 9,022.214 1287.8841 1450.0001 8,284.350 £11,593,335 £148,431 £{588.5681 £1369,8991 £- £10,783,299 1588,5681 Analyth of ch•rltable funds- y•ar •nd•d 31 Alarch 2021 Balance at 01JK2020 In¢om• EXP•1￿1tUr• alm and B•lanc• al 1088e• Tr•n¥f•r• 31.032021 Unr•slricled fund8 55.067 169,8CKI (655,865) 16,307 495.000 80,309 Permanent 8nd[￿nent 2,443.882 723,890 3.167,572 Expendable endch¥ff*nt 8,284.350 2,453,187 1495.0001 10,242,537 £10.783,299 £169.800 q655.865) £3.193.184 £- £13,490,418 Thg transfer offvryjs frcm theexp￿Klable end(YMn￿I funds to unre8tr1cted lurKl8was madeto finan charitab￿ expendtture in the yew in •xcoss of wailab* income. 18 THE WILUAM BRAKE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS 31 2021 (conllnu•dl 13 R•lat•d party tr*n•acdon* During the yw payments of £10,896 {2020'. £8,891) ¥yere made fo( lègal and trustee Serv￿5 to a partrnrshp in whKh Mr kq TrvJg, a trustee of th￿ ¢harty, r& a partner. At 31 March 2021 £62712020.. £1,584) w88 tr**d to the partnwship. Duriro the yeor PaY￿ntS of £5.64212020.. £5.495) were made for inve6tm?nl exp8n808 to F & W Family Inve51mentg Limited, 8 conyny in whicti Mr M Trvjg Mr P R Wilscffl ar• dir*if8. At 31 March 2021 £1,18612020'. £1.4861 wa$ (Aved to thfr conyany. 14 Prlor yMr ￿N￿ratIVe for th• Stat•m•rrt of Fln•Thcl•l ACIMIIM. Unr••trkt•d Endo¥•Yn•nt Total fund• fund• fund• 31.32020 Income and •ndI)wnw￿ from: Invgsbwits Income from investment$ Totsl Incom• and •ndoMn•nts 148,431 148.431 148,431 148.431 Exp•ndftur• on: Ratsing fi￿d$ In￿stMent management Ch8ntable activilffjs 35.382 553.186 35,382 553,186 588,588 ToL•l 0x￿ndItuT• 588,568 Net l•xp•ndliuf•l and not mov•m•nt In fund8 b•foM g*ln• ss•s on Inv••tm•nts (440,13n 1440,1371 Nel {kxso9) ¢)n wwostmenls Net {•xpèndAur•l {1,4901 1441,62n {368,4091 {368,409) 1369,8991 1810,0361 Transfer¥ belween fmd8 450.IXIO 8.373 {450.01)0) (818.409} Net movwnenl In fun R•¢on¢lllatlon of fund¥: Total bro￿ht fopward Total fund* carrlod forw•rd {810,036 46,694 11,546,841 11,593.335 £55,CE7 £10.728,232 £10,783.299 12 19 THE ￿LuAm BRAKE FOUNDATION INCOME AND EXPEMDITURE ACCOUNT Forthe year •nd•d $1 March 2021 31.12021 31.3.2020 incom• DNidends Unrted Kingdc Offshore 112.039 1.674 83,142 Intereil receivablè On cash depostt On UK Government Bond8 On offshore BorKi FurK18 Sharo of inlere8t- private equty fun 1.131 2.879 74,191 5.C60 40.258 Share of gairyd- prr¥*e eg￿ fun 23,326 1.498 F4yo&n ￿hange 1kM￿ly9ainS 17.527) 189,800 530 148,431 Accountancy Logal and trusts• 1981 A￿111 fees Investment expen808 B8nk charges 4,230 10.898 6,CQQ 36.403 22 4,230 8,891 4,080 35.382 57.551 112.249 52,583 95,848 L•••: Donatlon• 598,314 486,C651 535,985 q440,13n N•t {d•fklt) for lh• year 20