Cliarlty iiumb8r,' 107774B BOODLES CHARITABLE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
BOODLES CHARITABLE TRUST CONTENTS Page Rèferètice and admliilstratlve detalls of the charlty, Its trustees aiid advlsors Trustees, Yeport Indgpendent audltor8' ieport on the flnanclal statements Statemont of flnanclal actlvltles 10 Balance sheel 11 Statèmènt of cash Ilows 12 Note8 to the flnanclal statement8 13.22
BOODLES CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDEO 5 APRIL 2024 Trustees N A Wainwrlghl M J W81iiwrlght E Walnwrighl J Amos J Walnivrlght Charlty reg18tered niimber 1077748 Prlnclpal ofllGo 8oodles House 35 Loi'd Str881 Llvei-pool L2 9SQ Indèpei)dent audltors 811ck Rolhenberg Audlt LLP Charleyed Ac¢ouiilants Slalulory Audllor 16 Greal aue&n Slreel Covenl Gard6n London WC28 6AH Bankers Barclays Bank PIC Llverpool Buslness C6ntrg Llverptrjl Page 1
BoocILES CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Truslees presenl Ihelr annual reporl logellier with the 8udiled financlal slatements of Ihe Trusl for Ihe year 6 April 202310 5 Apdl 2024. Slructure, govermance and Inanagement a, Constltullon Th8 Trust was gslat)lislied by selllemenl dated 4 August 1999. The prinCIpa oblecllv6 of Ihe Trust Is lo make granls for charitable purpose8. Tho Twst Is an unlncorporaled charlly reglsleyed willi the Charilles Conim5sslon under number 1077748. Th8re have begn no changes In tli8 objecliv88 since the lasl annual report. b. Metliods of appolntment or olectlon of trust088 Tho managgin8nt ol the chailly Is th6 responslbllily ol (he Trustee8 who are elécted and co-opted und8r th8 lerms of the Trust deed, The exlsting Trusl88s have lh& power to appolnl new Trusle8s as consldered necessary. The Truslees who served durlng ilie year and up to the dal8 of slgnalur8 of tha flnancl31 slalemenls were,. N A Walnwrlght M J Walnwrlghl E Walnwrlght <appolnl8d 17 June 2023) J Amos lappoln18d 11 July 2022) J Walnwrlghl (appolnted 11 July 2022) The prlnclpal offlce of the Trust Is Boodles Hou8e, 35 Lord Slreet, Llverpool, L2 9SQ. c. OrgBiilsatlon81 structure Jnd declslon.maklng pollcles Tl)e Tiuslee8 meet regularly lo agree funding pollcyi monllor Income and expeiidlture and allocate funds. d. Pollcles adopted for tlie Inductlon and tyalnlng of Trustees New Tislee appolntmenls musl be proposed and 8gr88d by current Trustees e. Pay pollcy for key management P8r60nnel Management p8rsonnel provld8 Ilielr servlces frea of chargo. f. Related party ralallonshlps The Trus168s are also dlreclors of Boodle & Dunlhorne Llmlied. a conip8ny Ihal ha$ made voluntary donallons durliig Ilie year. tJotall8 of donallons froni the company are 5ncluded In Ilie notes lo the flnaiiclal slatemenls. g. Fliianclal rlsk IDanageinent Tlie Trustees have assessed the major rlsks lo whlch the Trust Is expused, Ih partleular those related to Ihp operallons and lin8nces of Ihe Twst, and are salislied Ihal syst8ms and procedures 8re in place lo Inlllgale exposure to the major rlsk8. Pag8 2
BOODLES CHARITABLE TRUST TRUSTEES, REPORT {CONTINUED> FOR THE YEAR ENDED 5 APRIL 2024 Plans for fLlture Tlie Tiuslees In18nd to conlliiu8 to provlde Ihe funding for charllablo causes for the forese8able lulur8 In line wllh Ihe prlnclpal oblecllve of Ihe Trust. ObJectlveB and acllvltles a. Pollcles and ol)lectlves In s6111ng oblecllves and plannlng for a¢llvltle$, (he Trusl8es have glv8n due consld&rallon to general guldance publlshed by th8 Chadly Cominlsslon relallng lo publlc ben8fll, Includlno lh6 guldance 'Publlc beneftl., runnlng a charily (P82)', The oblecllve of the Trust, as slated In th8 Setllemenl deed, Is to Idenllfy and provlde lundlng lo ¢harltable causes wllhln the Unlled Kliigdom. b. A¢llvltles iinderlakeii to achleve obJe¢llve$ Durlng the year Ihe Trust has Inade grants to a number of charitable organIsaonS wllhln lh8 Unlled Klngdom. All aciivilles uiiderlaken have been done so In support ol Ihe Trusl's prlnclpal objecllves. c, Clrant•imaklng pollcles Tha Trustees have dls4rellon over where and when granls Inade. Grants wlll be made by th8 Truslees as and wh8n they idenllfy a sullable and deservlng cause. d. Volunteers The Trust r8lles on the conlrlbullon of Ils TrLislees who provlde Ilielr servlces fre8 of charoe. Achlevamgiits and perforinaiice Revléw of actlvltes The Truslees are pleased lo report Ihal financlal suppori has been provided to varlous dcservliig charitable causes during lh8 year as more fully delailed in the notes lo Ihese fiiianclal slaleni8nls. Inveslnieiil Income and doiiallons recognlsed for lh8 year arriounled lo £1.297,454 (2023.. £2,536,303), Exp8ndllur8 on charSlable acuvllles 8mounl to £1,005,027 (2023: £487,749). b, Fiindralslng actlvltles and Incoine gfjngratlon The Truslees do nol fundrals8. Th8 income is derived froni its Inveslm8nts and by donations recelved from Boodle and Dunlhorne Llmlled. Inveslm811t pollcy and performaii¢e Tha Trustees have 8ppolnled and glven discrellon to Inveslec for Ihe day-to-day management of the Investmenls held by Ilie Trusl. Inveslin8nls are niade in accordance wilh tha dlrections of Ilie Truslees, who Gontrol Ilio overall natura of Ihe Inveslmenl portlollo and who are iesponslbl8 for th8 overall flnanclal conlrol ol the Trusl, The Trustee's Invesln18nl F)olicy is to see5( to 8nhance (he Gapllal valve of the portlollo $0 that In the long t&rm Ihe Incom8 and fulure capllal galns will be sufficient Io ffles8111)e èxpgndllure r8qulrements of the Trusl. During Ihe year under review, Investments performed favourably. Page 3
BOODLES CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Flnanclal revlew Golng concern Aflor maklng 8pproprl8le enqulFI8S, the Tiuslees have a reasonable axpeclalion that Ihe Trusl has adequate resources lo conllnue In operational existence for the foraseeable luture, For Ihls reason, they c.ontinue lo adopt Iho goliig concerii basls In preparlng the liiiancial slatemenls, Further d8lalls regardlng tho adopllon of the g0Sng Concern basls can b6 fouiid in Ihe accounllng pollcles b, R8seFvés polloy It Is tho pollcy of the Trust lo n)81nlalii unreslrlcled lunds, wlilch ara free re8eNes al a18vel wlilch Is sufflclenl lo cover oranl maklng and iiianagemenl and admlnlslralion costs and whlch allows th8 Trusl to be Ianaged efflclenlly. The flnanclal slalameiil8 show that unreslrfcled funds al 1118 year-end lolalled £5,042,254 (2023., £4,377,942), which equ8les to approxlmalely live years of grant glvlng at current levels assumliic a worse case scenarlo wliere no Income is r8celv6d. c. Flnan¢lal Ylsk managem8nt oblectlves and pollclos Tha Trustees have assessed the m8lor rlsks to whlch Ihe Trust is exposed, In p8rtlcular thos8 related lo th8 operallons and flnances of the Trust, and are satisfied that sy81ems and procedures are In place lo mlllga18 exposure lo the major rlsks. d. Prlnclpal fuiidlng Th8 Trusl Is prlnclpally funded by donallons recelved from 8oodb 8nd Dunlhorn6 Llinlled and Incomo derlved from Its Invaslmenls. statement of Trustees, responslbllltles Tli8 Trustees are responslbl8 for preparlng the Trustees, report and Iho Ilnanclal statemon18 In a¢¢ordanGe wllli appllcab18 Saw and Unlled l<lngdom Accounting Slandards (Unlled Klngdom G8neTally Accepted Acoounling Pracllcel, The law appllcable lo chai'llies Iii England & Wal85 r8qulres th8 Trustees lo prapare Ilnanclal slaleniei)Is for eacl) linonclel year whlch glve a true and falr vlew of Ilie stale of affalrs of the Tiusl and of ils Iii¢oniliig resources and appllc8llon of resources, IiiclJdlng Ils Inconie and expendllure, for Ihal perlod, In preparlng these Ilnanclal slalemenls, tlie Trustees are requlred lo.. splecl sullable accounting pollcles and Ilien apply them consisl8nlly, obseNe the Methods arid PTlnclples ol Ih8 Charilies SORP (FRS 102); make ludgmenls and accounllng estlmales that are reasonablg and prLtdenl' slatg whether appllcable UK Accounling Standards (FRS 102) have been followed, sublecl lo any ni81grlal departures dlsclosed and explalned In the fiiianclal st8lemeiils' pr6pare the linanci81 slalernenls on the going concern basis unless It Is Inapproprlat8 to prés(Inie Ihat the Trusl wlll conllnue In business. The Trusle8s ar6 r6spoiislbl8 for keeplng adequalo accounting records Ihat are sufllclent lo show and explaln Ilie Trusl's Iransaclloiis and dlsclose wlth reasonable accuracy al any time th9 flnancial posllion of the Trusl and anable tl)em (o eiisure Ihal the finandal slalemenls coiiiply wllh the Charities Act 2011, tha Charily IAccDunls and Reports) Regulallons 2008 and the provlsions ol th6 Trusl d86d. Trey are also responslble for safeguardlng the ass@Is of the Trust and hence lor taking reasonable St8ps for Ilie prevention and d8teclion of fraud and other Itragular1118S. Page 4
BOODLES CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Dl8closure of Ihformatlon lo audltor Each of the persons who 8re Truslees al th8 Ilme when Ihls Truslees, r&port Is approved has conllfmed Ih81', so far as that Truste8 Is aware, there Is no re58vanl audlt Informallon of whlch the Trust's audllor Is unaware, and that Trustee has lak8n all th6 Steps that ought lo havo b88n taken as a Trustee In order lo b8 aware of any relev8nl aiidlt Informalloii and lo eslabllsh that Ihe Trust's audltor Is aware of that Informallon. Appr ved by order of the member8 ofth8 board of Tru ees 8nd slgned o Ihelr behalf by., N A Walnwrlght Trus(86 al rlght Truste Oate., Page 5
BOODLES CHARITABLE TRUST TRUSTEES'AUDITORS. AND THE MEMBERS OF BOODLES CHARITABLE TRUST FOR THE YEAR ENDED 5 APRIL 2024 Oplnlon We hav8 audiled (he financlal slalem8nls of Boodles ChaTltablo Trusl Ilh8 'Trust'l for 11)e year ended 5 Aprll 2024 which coinprlse the slatemenl of flnanclal acttv11185, the bal8iice sheet, Ihe slalemanl of ¢8sli flows and the related noles, Includlng a summary of significant accounling polirles. The financlal reportlng frainowork that has been appll8d in Ihelr preparallon Is applicable law and Unlled l<ingdom Accounllng Standards, Includlng Flnan¢lg1 Reportlng Standard 102 'The Fiiiaiicial Reporling Standard appllcabla In the Ul< and Republlc of Ireland, {Unlled Sllngdom Gen6r811y Acceplad Accountlng P(aclice), Tlia fii)aiic181 slaleiiienls have beet) prepared In accordance wllh Accounllng aiid Reportlng by Charllles prepayliig Ihelr accouiils In accord8n¢6 with the Flnanclal Reportlng Slandards applicabl8 In11)a Ul< and Republic of Ii'elaiid IFRS 102) In prefei'8nce lo lh8 Accounllng and Reportlng by Charillas.. Slalen181)t of Recommended Pracllce Issuéjd on 1 Aprll 2005 4vhlG17 Is r6ferred to In Ihe exlanl regulallons l)vl has b8an wllhdrawn, Thls has be8n done In order for Ihe accounts lo provlde a Iwe aiid falr vlew accordance wllli thg Gen8rally Accepted Accounllng Pracllce ef16cllve for r6POrtlng perlods beglnnlng on or afl8r l January 2015. In our oplnlon the IlnanGlal stalenienls.. glve a true and falr vi@w of the slale of Ihe Tiusl's alfalrs as at 5 Apri5 2024 and ol Its Iiicoming I'esources and appllcallon of resources for tha year then ended; have been properly prepared In accordance vAlh Unlted Klngdom Generally Accepled Accounllng Pracllce,, and h8vg b8811 prepared In accordance wllh lh8 requlrements of the Charllies Act 2011. B8sI8 for oplnloii W8 GondLicled our oudll In accordance wllh Inlernalloiial Sl8ndards on Audlllng (UK) (ISAS (Ul<)12nd 8ppllcable law. Our responslblllllos under Ihose slandards are furlher descrlbed In 1118 Audllors, respoiislbllltles for the audlt of tho flnanclal slalemeiils secllon of oiir report. We are Independent of th8 Trust In accord8nG8 wllh 1118 elhlcal requlreinenls thal are relevant lo our audll of th8 flnanclal slatemonls In lh8 Unlleé Klngdoni, Includlng the Flnanclal Reporllng Councll's Elhlcal Standard, and we hav8 fullill8d our other elhlc81 rèspoiislbllilles In occordanc6 willi 1110s6 requlrem6nls. We belleve Ihal (h8 audil evld8nce w8 have oblalned Is sufflclenl end approprlete lo provlde a baEls for our oplnlon. Con¢luslons relating to goiiig concern In audlllng Ilie financial slalemenls, we hav8 concludod Ilial the Twslees, use of the golng conc8rn basls of acGounllng Iii the preparallon of the flnanclal sletem81i18 Is approprlat8. Based on the work we have performed, w6 have nol Idenlllled any nialerial uncertalnlles relallng to events or condlllons Ihal, Indlvldually or collectlvely, niay casl slgnlflcaiil doubl on the Trusl's ablllly lo coiilinue as a golng concern for a perlod of at lea81 Iwelv8 month5 from when Ihe Ilnanclal slalemenls are aulhor18ed for Issue. Our responslbllillas and tho responslbllSlles of the Truslees with respect lo golng concern ar8 descrlbed In Iho re5evanl secllons of Ihls r8pori. Page 6
BOODLES CHARITABLE TRUST TRUSTEES'AUDITORS, AND THE MEMBERS OF BOODLES CHARITABLE TRUST (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Other Information The olher information comprises the information included in the annual report other than the financial statements and our auditors, report Ihereon. The Trustees are responsible for Ihe other information contained wilhin the annual report. Our opinion on the financial slalemenls does not cover the olher information and, except to the extent olhemise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so. consider whether the other inlormation is materially inconsistent with the financial slatements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misslalecl. If we identify such material inconsistencies or apparent malerial misslatanienls, we are required lo determine whelher (his gives rise lo a nialerial n)isstatemenl in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a maleri81 misslatem8nl of this other information, we are required lo report Ihat facl, We have nothing to report in this regard. Matters on whlch we are requlred lo report by exceptlon We have nothing to report in respect of the followng matters where the Charilies (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the information given in the Trustees, report is inconsislenl in any Inalerial respect wlh the financlal statements., or sufficient accounling records have not been kept., or the financial slalemenls are not in agreement with the accounting records and returns., or we have not recetved all the information and explanalions we require for our audit. Responsibilitles of trustees As explained more fully in Ihe trustees, responsibilities statemenl, the Trustees are responsible for IFie preparation of the financial slatemenls which gtve a true and fair view. and for such inlernal control as the Trustees delerniine is necessary lo enable Ihe preparation of financial statements that are free from malerial misslatemenl, whether due to fraud or error. In preparing the financial slalemenls, Ihe Trustees are responsible for assessing the charilsls ability lo continue as a ooing concern, disclosing, as applicable, mallers related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic allernalrve but lo do so. Page 7
BOODLES CHARITABLE TRUST TRUSTEES'AUDITORS, AND THE MEMBERS OF BOODLES CHARITABLE TRUST (COMTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 Auditors, responslbilities for the audit of the flnanclal statements We have been appointed as auditor under section 144 of the Ch8r*ties Act 2011 and rèport in accordance wilh the Act and relevanl regulalions made or having effect thereunder. Our objectives are to obtain reason2ble assurance about whether tha financial statements ss a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors, report Ihat includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee Ihal an audit conducted in accordance with ISAS (UK) will always detect a malerial misslalemenl when il exists. Misslalemenls can arise from fraud or error and are considered malerial if, indiwdually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these finar)cial slalemenls. Irregularities, including fraud, are instances of non-compliance wilh laws and regulations. We design procedures in line with our responsibilities, oullined above, lo delect material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of delecling irregularities, including fraud is detailed below.. the engagement partner ensured that Ihe engagement team collectively had the appropriate competence, capabilities and skills to idenlify or recognise non-compliance wlh applicable laws and regulations,, we identified the laws and regulations applicable lo the company through discussions wilh Iiuslees and other management, and from our commercial knowledge and experience of Ihe sector., we focused on specific laws and regulations which we considered may have a direct malerlal effect on the financial slalemenls or the operations of the company, including the Charities Act 2011. we assessed Ihe extent of compliance with the laws and regulations identified above through making enquiries of management and inspecling legal correspondenc8', and idenlified laws 8nd regulations were communicated within the audit team regularly and the teem remained alert lo instances of non-compliance Ihroughoul the audil. We assessed the susceptibility of the companls financial stalemenls lo material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as lo where they considered there wa5 susceplibilily lo fraud, their knowledge of aclual, suspected and alleged fraud. and considering the internal controls in place to mitigate risks of fraud 2nd ncn-conipliance with laws and regulations. To address the risk of fraud through management bias and overfide of controls. we.. performed analytical procedures lo identify any unusual or unexpected relationships., tested a sample of journal entries to identity unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimates were indicatlV8 of polential bias. and invesligated the rationale behind signifan1 or unusual transaclions. In response to the risk of irregularities and non-compliance wilh laws and regulations, we designed procedures which included, bul were not limited lo: agreeing financial Statement disclosures lo underlying supporting documentalion., reading the minutes of meetings of those charged with governance., enquiring of management as lo actual and potential litigalion and claims. Page 8
BOODLES CHARITABLE TRUST TRUSTEES'AUOITORS, AND THE MEMBERS OF BOODLES CHARITABLE TRUST (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 There are inherent limitations in our audit procedures describèd above. The more removed thal laws 3nd regulations are from financi21 transactions, the less likely it is Ihat we would becoine aware of non-compliance. Audiling standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. A further description of our responsibilities for the audit of the financial slalements is localed on the Financia Reporting Council's website al.. .f[C.0[ .uklaudilorsres onsibililies. This description forms pari of our audiloFS' report. Use of our report This report is made solely lo the Trust's Tnjstees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might stale to the Trust's Trustees those mallers we are required lo slate lo them in an auditors, report and for no olher purpose. To the fullesl exlenl pemiilted by law, we do not accept or assume responsibility to anyone other than Ihe Trust and ils Trustees, as a body, for our audil work, for this report, or for the opinions we have formed. FL,L É, LLb LLP Chrlstopher Shepherd {senlor statutory audltor) for and behalf of Bllck Rothenberg AudSt LLP Chartered Accounlanls 16 Great Queen Slreet Covent Garden London WC2B SAH Dale: Blick Rolhenberg Audit LLP are eligible to act as auditors in terms of section 1212 of the Conipanies Acl 20Q6. Page 9
BQQDLES CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDEI) 5 APRIL 2024 Unrestrlcted funds 2024 Total funds 2024 Tolal funds 2023 Note Income from: DonalSons and legacles lnv88lnienls 1,200,000 97,454 1,200,000 97,454 2,500,000 36,303 Total Income 1,297,454 1,297,454 2,536,303 Expendlture on,, Charllable acllvllles 1,005,027 1,005,027 487,749 Total expèndltiire 1,005,027 1,005,027 487,749 Net movement In fund8 befoye other r6cognlsed galnsl(10688sJ 292,427 292,427 2,048,554 Other recognlsed galnsl(losses): Olhei galnsl(losses) 374,885 371,885 113,7rf9) Net movement In funds 664,312 664,312 2,034,835 Recon¢lllatloii of funds: Tol81 lunds brought foFward N81 movement Iii funds 4,377,942 664,312 4,377,942 664,312 2,343,107 2,034,835 Total funds carrlod fornard 5,042,254 5,042,254 4,377,942 The Slalement of fln8nclal acllvllles Includes all galns 8nd1055es recognlsed In Ihe year. Th8 notes on pages 13 to 22 form part of Ihese flnanci81 slalemenls. Page 10
BOODLES CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Nota Flxed assets InveÈlmenls io 4,832,508 3,600,758 4.832,S06 3,600,758 Currant asset8 Cash al bank and In hand 701,748 977,184 701,748 977,184 Credllors: an)ounls falllng du8 wlthln one y#ar (317,000) (100,000) Ngt current asBgts 384,748 877,184 Total assots lèss current Ilabllltles Credllors.. omounls falllng du8 after more than one year 5,217,254 4,477,942 12 1175,000) (i 00,000> Net as8•t$ ex¢ludlng pen8101i as58t S,042,254 4,377,942 Total iiet assets 5,042,254 4,377,942 Churlty funds Reslrlcled funds Unr8slrlcted funds 13 13 5,042,254 4,377,942 Total funds 5,042,254 4,377,942 The Ilnaiiclal statem6nls were approved and aulhorlsed for Issu8 by Ihe If tees and slgned on I Ir b8h8lf N A Walnwrlght Tfuslee Wal lee rlght Tru Dale: The notes on pages 1310 22 form part of these financl81 slalemenls. Pagell
BOODLES CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Cash IIow8 from opÈratlng actlvltles Nel cash used In operating actlvllies 680,554 2,281,330 Ca#h flow$ from Investlng actlvltles Inlar6St recelved Proceeds from sale of Inveslm8nl8 Purchase of Inve81nients 97,454 36,303 829,061 312,123 (1,882,505) 12,843,138) Net cash used Iii Investlng actlvltles (955,990) 12,494,7d21 Change In casli and cash equlvaleiits In the year Cash and cash equlvalents al the beglnnlng of the y8ar (275,4361 <213,3821 977,184 1,19Q,566 Cash and cash equlvalenls at the end of thè year 701,748 977,184 Tha notes on paggs 1310 22 form part of Iliese financl81 statemen18 Page 12
BOODLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EMDED 5 APRIL 2024 General Ihformatlon The Trusl was eslabllsligd by solllaniant dal8d 4 Augusl 19g9. The prlnclpal obl8ollve of lh8 Trust Is to make grai)Is for chaTilab18 purpos8s. Tlie Trust Is an uhlncorporaled charlly reglslered th Ihe Char11185 Coiri?Ilsslon under number 1077748. The flnanclal slateents are prosenled In Slerllng (£). Accoiintlng pollcle8 2.1 Basls of preparallon of flnahclal slatemeiits The financial st8leTnenls have been prépared In accordance vAlh th8 Char1116s SORP (FRS 1021 (second edillon October 2019) Accounllng and Reporllnu by Charllles., Slalemenl of Recommended Pracllce appllcable to charllles preparlng Ihelr accounts In accordance wllh the Flnanclal Reportlng Sl8nd8rd appllcable In Ilie Ul< and Ropubllc of Ireland (FRS 1021 (eflerllve 1 January 2019), the Flnancial Reportlng Slandai'd 8pplleable In the UIC and Republlc of Ir61and IFRS 102) and Ilie Ch8rllles Act 2011. The Boodles Charllable Trusl meels the dennlllon of a publlc beneltl 9nllly undoi. FRS t 02. Assets and Ilabllllles are InlllalSy recogn18ed al hlstori¢al cost or Ir8nsaGllon value unless olhenvise slated In the relevaiil 80counlin9 poIIcy. 2.2 Golng concern After maklng enqulYle8. the Tru8t8es have a r8asonable exp8cl8llon th91 th8 Trust l)a8 adequala re$our¢8S to conlliiue in operatlonal exlslence and meel Ils li8bllllles as Ihey fall due (Dr Ilie foreseeable future. belng 8 perlod of al least twelve months (roin tlie dale Ilies8 flnanclal slatenieiils were approved. Accordlngly, they conllnue lo adopl1178 golng conceii) basls In preparlng Ilie Iln?nclal slatemenls. 2.3 Incoino All Incomè Is re¢ognl$ed once the Trust has enlillemenl lo Ihe Inconie. il Is probable11)al Ihe Incoma wlll be recelvod and the amouiit of Incorne receivable can be measured rellably. Income tax recoverable In relation lo Inveslmanl Income Is recognlsed al Ihe lima tho Inveslmenl Income Is r8celvablè. Page 13
BOQDLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountliig pollcles <¢ontlnuedl 2.4 Fund accountiiig Ggneral fiiiids are unrestrlcled funds whlch are avallable for use at the dlscrellon of the Triislees In furtherance of Ihe general obJecliv6s of the Tiusl aiid whlcli hav8 nol been d&slgnaled for olher purposès. Inv8slm6nl Incoiné, galns and losses are allocated lo Ihtt approprlale furkd. 2,5 Expendlture Expeiidllure on charllab18 8ctlvlt1881s Incurred on dlreclly uiid6Ylaklng th8 acllvilles whlch fur1118r (he Trusl's oblecllv8s, as w811 as any as50claled support Costs. Ch8rllabl8 aclivi118S 8nd governance Costs are costs Incurred 011 Ihe charlly's educatloi)al op6rallons, Includliig support costs aiid costs relallng to Ihe governanc8 of Ihe charlty apportloned lo charllabl a¢llvllle8. 2,6 Iiivestmaiits Flxed asset Investments are a form of Ilnanclal Inslrumènl and 8re Inlllally reeognlsed at Ihelr Iransacllon cosl and subsequonlly measured al f81r value al the balanc8 sheet da16, unless the valiJ8 cannol be measured rallably In whlch c8s8 It Is iiieasured al cost less Iinpalrmenl. Investment g8liis and losses, whether reallsed or unreallsed, are comblned and preseiiled as 'G8ins1lLosses) on Inve8lmenls' In Ihe Stalenient of Flnanclal Acllvllles. 2.7 Flnai)¢lal Instruments The Trusl only Ii'ade8 In b8slc flnanclal Instruments, Its n61 current asset poslllon 18 a reasonabl8 measure of Ils Ilquldliy at any given lime. Pag8 14
BOODLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Iiicome froni doiiallons and legaclas Uiirestrloled funds 2024 Total funds 2024 Donallons 1,20Q,000 1,200,OOG Unrestrlcled funds 2023 Total funds 2023 Donallons 2,500,000 2,500,000 Inveslment income Unregtrlcted funds 2024 Total funds 2024 Inlerasl and dlvideiids r8celvable 97,454 97,454 Unrestrlcleo funds 2023 Total lunds 2023 Intere31 and dlvldends reroivable 36,303 Pag8 15
BOODLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ialysls of expoiidltur8 on chayltablp actlvlties 8umiiiaiy by fuiid type Ilnrestrlcted funds 2024 Tot81 2024 Charilable a¢ltvStles 1,005,027 1,005,027 UnreslrlGled funds 2023 Total 2023 Charllable acllvlll8S 487,749 487.749 Analy819 of axpendlture by actlvltlas Dlrect and govern8n¢ costs 2024 Grant fuiidliig of actlvltl85 2024 Total funds 2024 Charllable acliviles 40,645 964,382 1,005,027 Dlrect and governance cosls 2023 Grant fundlng of acllvlllos 2023 Tot81 funds 2023 Charllable acllvites 16,599 471,150 487,749 Dlrect cos(8 relate lo Inveslmenl manager f8e5, audllor's femuneralion aiid bank charg8s payable by lh6 Trust. Page 16
OODLES GHARITABLE TRUST NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Aiialysls of granls Graiils to Instltutlons 2024 Tot81 fuiids 2024 GTant8 lo Inslitulloiis 964,382 9e4,382 Granls lo In$lllullons 2023 Total funds 2023 Grants to Inslllullons 471,150 471,150 The Trusl has mad8 Ihe followlng malerl81 granls lo Inslltullons during Ilie year: Page 17
BOODLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Analysls of graiits (contlnued) 2024 2023 Nanie of Iiistltutlon Cheshlre Coinmuiiily Fouiidallon Hope and Honies for Cliildren Che818r Zoo Tha Shlnlng Faces of Indla Alderhey Chlldrens Hospllal I Cali 8nd l Am Message Trusl ShrewsbuTy Foundallon Pglra Dlamond Foundallon R81nbow Trust Earthquake Rapld R88ponse Jiisl a Drop Llfe Llnk Royal Opera House BREAD Alder Hay M8ggle8 Mission 24 Valloy Llfe Trust Trensformlng Llves for Good 10,000 47,000 10,000 20,000 10,000 300,000 15,000 10,000 45,000 50,000 12,000 10,000 60,000 55,850 20,000 ID,000 525,000 82,300 50,000 10,000 10,000 10,000 20,000 10,000 930,35D 34,032 452,000 Olher grants to Iiistitulloiis <lndlvldual grsnts < £10,000) 19,160 964,382 471,160 Pago 18
BOODLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO S APRIL 2024 Audltor's Yemuneratlon The audilorfs I'6muneratloi) amounts to an audllor fee 01£6.000 (2023 - £6,000). Trustees, remuneratlon and expenses Oudiig the yèar, no Trustee received any reinunerallon or othei beneflts (2023 - £NIL). Durlng the year ended, no Trustee expenses have been Incurred (2023 - £NILI. 10. Flxéd asset Investments Olh&r Inv&stnients Cost ¢r vhluatloii Al 6 Aprll 2023 Addlllons Dlsposals R8valuatlons Forelun 6xchange niovenienl 3,600,758 1,882,505 (829,0611 296,195 (117,8911 Al 5 April 2024 4,832,506 Net book valuo Al 5 Aprll 2024 4,832,506 Al 5 Aprll 2023 3,GOO,758 All Investments are listed on a recognised stock 8xchang8 or held In common Investment lunds, op8n ended inveslmei)I comp8nle8, unil Irusls or olher colleGlivg Inveslmenl schernes. Materlal Investment¥ No indivldu81 holdlng comprlses Inore than 10 /0 of Ihe lolal value ol the portfollo. Pag8 19
BOODLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2024 11. Credltors: Amoui)Is fallliig due wltliln one year 2024 2023 Accruals aiid deferred Income Accruals for grants payab16 12,000 305,000 100,000 317,000 100,000 12. Cr8dltors', Airoui)ts falllng diio after more thali one year 2024 2023 AGcruals for grants payablo 75,000 100,000 13. Statement of fuiids stat01nI ol fund8 curyeiit year Balai)c8 al 6 April 2023 Gali)sl Balahoe at 5 (Losses) Aprll 2024 Income E%p8nditure Unre8trl¢tad funds Unrestrlcled funds 4,377,942 1,297,454 (1,005,0271 371,885 5,042,254 Statemènt Of funds - prlor year Balance al 6 April 2021 Galnsl Balance al (Losses) 5 April 2023 Income Expendilura Unreslrlcted fund5 2,343,107 2,536,303 (487,7491 (13,719) 4,377,942 Page 20
BOODLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEfo,ENTS FOR THÉ YEAR ENDED 5 APRIL 2024 14. Analysls of nel assets between funds AtJaly81s of iiet assets between fui)d8 curreiit perlod Uiirést¥lcted fuiids 2024 Total fiiiids 2024 Flxad assel Inveslmenls Currant assels Credilors due wilhln on8 y8ar Credllors due In mor8 than one year 4.832,508 4,832,S06 701,748 701,748 (317,000) (317,000) (175,000) 1175,000) Total 5,042,254 5,042,254 Aiialysls of nel assels ba(weftn funds- prlor perlod Unreslrlcled funds 2023 To181 funds 2023 Flxp.d 88sel Inveslrtients Current assels Credllors due wllhln on8 year Cradllors duè In more than one year 3,600,758 3,600,758 977,184 977,184 (100,000) (Ioo,ooo> (100,000) (1 OQ,OOO> Total 4,377,942 4,377,942 15. Reconclllatlon of net movement in funds to net cash flow froni operatlng actlvltles 2023 2023 Net Income for Ilie perlod (as per Statement of Flnanclal Actlvitl8s) 292,427 2,048,554 AdJuslm6tils for: Income from fixed asS8t Inveslmenls Movement In credltors Revaluallon of Inv6slnienls (97,454) 292,000 193,581 {36,303? 200,000 69,079 680,554 2,281,330 Pag@ 21
BOODLES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 46. Analysls of casli and cash equlvalents 2024 2023 Cash In hand 701,748 977,184 17. Analys18 of chaiig88 n8t dèbf At 6 Aprll 2023 Cash flows At 5 Aprll 2024 Cash al bank and In hand 977,184 {275,436} 701,748 977,184 (275,436) 701,748 18. Related party transactlons Voluiilary Inconie of £1,000,000 (2023: £2,500,000) was recelved from 8ood18 & Dunthorne Llmlled, a conipany In wlilch the Truslees ere Dlreclor8, Voluiilary Income of £200,000 (2023: £NIL} was recelved froin J A Walnwrlghl, a Trustee of Boodles Charlt8ble Tru81, Donallons of £55,850 (2023., £20,000) were made lo the Ralnbow TNSI ol wlilcli M J Walnwrighl w85 8 Truslee unlll 31 January 2024. Donali01i8 of £50,000 (2023.. f2Q,000) were made lo The Shlnlng Face8 of India ol whlch N A Walnwrlghl Is a Trustee. Don&llons of £5,000 {2023'. £5,000) were made to the Daws Hall Trust of whlch J Amos was a TNstee until 11 J8nuary 2024. PagE 22