REGISTERED CHARITY NUMBER; I(189880 REPORT OF THE TRUSTEES AND LNAUDITKD FINANCIAL STATEMENTS.FOR THE YEAR ENDED 31 DECEMBER 2023 FOR THE HR PiL4TT BOORMAN FAMILY FOUNDATION Stspben Hill Mid Kent Ltd Offjcell Ronjney Marsh BusinL&8 Hub Mounffi¢ld Road New Romn¢y Kenl 'IN28 8LH THE HR PRATT BOORMAN FAMJLY FObNDATION CONTEr￿S OF THE FINAI¥CIAL STATEMENTS FOR THE YEAR ENDED 3J DECEMBXR 2023 Pale RefeTeDee and AdmlDtslrative Detsi15 Report of the Trustees Independent Exau]In¢r's Report Ststrment of Finanelal Aetlvl¢les B*lance Sheet Noles to the Flngnciwl Ststsmtnts 7 to 11 Detai]ed Statcm¢nt of Fi08llcial Actfvltics 12 THE HR PILirr BOORMAN FAMILY FOUNDATYON REFERENCE AND .4DMINISTIiITIVE DETAILS FOR THE YEAR ENDED 31 DECLMBER 2023 TRUSTEES Mrs C A Buchanan Ms H E r walde￿sM)th Mr R P Allinson Mr F Ailinson Mr J Webb ts E A E Bu¢hanan (4)poinled 12.8.23) PRINCIPAL ADDR￿9 Startd￿ farm Smathn Road Biddenden Ashford Kent TN27 8JT RKGTSTERED CHARITY NUMBER 1089880 INDEPENDENT EXAMINER swhen Hill Mid Kent Ltd Office I Romney Marsh Business Hub Mountfield Road N¢1¥ Romney Kent TN28 8LH SOLICITORS Berwin 12i8hton Paisner LLP Adelaide House Londvn Brid8¢ I,ondon FC4R 9H, BANKERS CA>- BaDk 25 Kings Hill Avenuc Kin8$ Hill W&%t Malling K¢n¢ ME.19 4JQ Pag¢ I THE HR PRA￿ BOORMAN FAMILY FOUNDATIO REPORT OF THE TRUSTEES FOR THE YE.%R EIYDED 31 DBCEhlJBER 2023 Thc trnslw4 pr&8ent thcir report with the finan¢ial statements of the charity for the >'ear endud 31 Decunber 2023. The tnLstees have adoptcd the provi5i0TIS Ot _IccountinE and Rcportin8 by Clwities: Ststement of Recommcndcd Pi'acti¢¢ appliGabl¢ to charities preparing their accounts in aCCord￿Ce with the Financi&l Reportin8 Stsndard 4ppliLable in th¢ UK and Republic of IrElaAd (FRS 102) (etYcctiv¢ l j￿Uary 2019). OWECTIVES AND ACTKVITIFS Objectlveg and *Arn$ The principal aims of the charity ar¢ the relief of poverty, unelnployment. the advancement of education and other ch8rit&blc purposes as dctined in the tharity's trust deed. Public benefit statement The ttwstees contirm that they hav¢ complied with the duty in S17(5) of the Charities Act 20I I to have due regard to the Charity Cornn]is5ion's 8uidance on publi¢ benetit when s¢¢ting up their grdn¢ makin8 FKJlicy for the yejr in order to &thieve its aiTllS Ond objeotives. 'I'he Irustees are satisfied that ail grants made during the year ate for the beneilt of the public and that the b¢nefii of each and every grdnt is clearly identifiable. ACHIEYKMENT AND PERFORMANCE The Lh8rity's principa] aclivity during the perivd was the provision of awards to dv¥¥ryin8 cause5 in the furthcrdnrt of its aims. Th¢ financial stat¢ments arjd accompanyin8 notes f&irly reflect the tota]ity of the income and costs of the charity. It is nol dependwiL on the y¢rn le￿ of the unpaid voluntews. donations in kind. or other intangiblc in¢omi. STRUCTURE, GOVERNANCE AhD MANACEMENT Goveruing documenl The IIR Prart B(x)nnan Family Foundation is consiituted under a deed tru¥L dated 19th Julle 2001 as amended by a deed ofvariation dated 28th Novcmbcr 2001. Trustee app0iJAt￿ellt end organlqatlon The membership of the board of trustees is detsiled on pa8e l. The trustees meet rcgularly to a8rce the 5trate&y of the charily. including consideration of grant making, The tru5teES also consider inv&8imenL reserves and risk mana8ement polici&s. The trustees meet at let￿t twice a ycar under the temis of the trust deed. New tru.ste&g musi be appointed by & resolution of th¢ tn]steeg. Ther¢ should be a minimum of thtte and a maximum of fifteen trustees. No restrictions aT¢ placed by the trust deed on the trustees power to inves¢. IDducdon alld training of new trustees New trustee5 ure provideA with a copy of th¢ trust deed dated 19th June 2001 &5 an]ended by a d¢ed of variation dated 28th November 2001, and are "￿1]Y infDmed of their obli8atiorAS under charitv laH. 'fru5tees ar¢ encouraged 10 ￿Lend appropriate external cours¢5 to eThabl¢ Ihem to carry out tbeir rol#. Page 2 THE HR PRA￿ BOORM.IN FAMILY FOI NDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW FloaDcial positio The investment portfvlio relat¢s to a charities investment fund and is prote5sionally managed by CCLA Investsnent Manag¢rDent Ltd who OPkn"r8* within specifi¢ 8uid¢lin¢s that s¢t out and regularly revi¢wcd by thb trustees. The strategy is to maximise rotsl rdurns within acceptable levels of risk The ￿80¢i&l¢d costs Wurl tx)rne on a commission basis per transaction undcrtakcn in the portfolio. Dividends were received from the investment PDrtfolio of £25.093 (2U22= £25.094). The truste¢$ are Satisfied that this level of ¢ash is sufficient to fund the workin8 capital requirements of the Tri)undation for the forcsceable futurL*. RESERVES POLICY The Iruslees permitted by the trust deed to a¢￿]MUlat unr¢strict¢d funds. i¥hi¢h are the free reserves of the Charity. as they see fit. Cuffendy the charity's l￿d includes £933,028 (2022.. £852,932) of unrestrlcted funds. Thi5 PTovid&% sufficient fimds to rATrv¢r administration cnsts and respond to donation requests. The Trustees objective is to accumulate reserves of £l,000.000. GRANT MAKING POLICY The ch4Tlt>' invi¢es applications for amords from individual and organisations. lThe applications are reviewed by Ihc tnlstees belore awards are made. AU grants m&de ore in line witb its ch&ritable objeciives. INVFSTMEPIT POLICY Pil'om time to time the trustecs may takc prof￿10￿al advlLe as to the best Ir>v￿Ment pDlicy for their portfolio. STRUCTURE, COVERNANCE ALID LKANACEMENT I'he tharity is wntrolled by its gOVErning doCum￿t, a deed of trust und wnstitute5 unincorporated ohJrity. Approved by order of the ix)&rd of tru51¢es on ....,.ffAIF..1,1.F . and signed on its behalf by: Mrs C A Buchanan- Tru5tce Page 3 INDEPEIDENT EXAMINERIS REPORT TO THE TRUSTEES OF THE HR PRArr BOORMAN FAMILY FOUNDA TION Indep¢ndeDt ex•mIne￿5 report to the trustees of Th¢ HR Pratt Boorman F*mlly Foulldatio I report ￿ the charity trustees on my examination of the ac￿Unts of iThe IIR Prait Boorman Family loundation (th¢ TrJst) forthe year ended 3 1 De¢ember 2023. Re&pon$lbllftle$ and bAsAs of report As the charity trus*¢5 of the Trust you are r&sw)nsible for the pr¢paration of the accounts in accordance the requirernents of the Charitia5 Act 2011 (Yhe Ace). l Tel￿rt in respeL* uf mj" Lwrtinalion of Ihe'l'rust's accounts carried out under Sedivn 145 of the Act and in carryit)B out my exaTnination I have followed all applicable Directtons gi￿rt by the Charity LotnllLt55ion under Section 145(5)(b) of th¢ Act, Independtnl examlner's stitement I have cornpleted my examination. I confirm that no material matters have Come to my attention in cormextion Thitb the xamination giving me cause to believe that in any material resp¢¢t'. 8¢COUtiting reeoTds were no¢ kept ill respect of the Trust us required by Se£tion 130 of the ACL or the &ceounts do not a¢cord with those r¢¢ords- or the 4ccounts do not u)mply with th¢ opplicable Tquir¢m¢nts conccrning the forn] pmd cont¢nt of arcOL￿tS set out in the C.hariti¢s (Accounts and Re￿)ts) Regulations 2008 other than any requirem¢nt that the accouT)ts 8ive 8 true and f&ir view whi¢h is not a matteT considered &$ part of an independLnt examination. I hgve no ConC￿nS and have com¢ across llo other matt'¢rs in ¢onnekntion with ih¢ exomination tD ivhi¢h atl¢ntion should be dra￿Tr in thls report in urder to enable a proper understanding of the aLcr)unts to be Teached. TimothyNB List¢r The Enstilut¢ of Chartered Acci)untanL% in England and Wa]es Stephen Elill Mid K¢n¢ Ltd oJric¥ I I Romn¢y Marsh Business Hub Moun¢fi¢ld Road New Rornney fN28 8LH Page 4 THE HR P114Th BOORMAN FAMILY FOLNDATION STATEMENf OF FINAf4CJAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 21123 31.12.23 Total fi]nds 31.12.22 Total fijnds lJnrestricted fund Restrided nd Noles INCOME AIYD ENDOWMEYTS FROM Investment incom¢ 25,113 25,113 25.104 EXPENDITURE ON Charitable activitiei GraDLs Governan¢¢ costs 21,863 79 21,863 79 23,830 89 Tot81 21,942 21,942 23,919 N¢t gainsl(losses) on investments 76,925 76,925 (110,153) NET INCOMEI(EXPENDITURE) 80,096 80,096 (108,968) RECOIYCILIATION OF VUNDS Total fund5 brought forvMrd 852.932 852,932 961.900 TOTAL FUNDS CARRIED FORWARD 933,028 933,028 852.932 The nOle￿ Forni part of these financial st8thent5 Page 5 THE HR PIL1￿ BOORMAN FAMILY FObNDATIOIY BALANCE SHEET 31 DECEMBER 2023 31.12.23 Total 31.12.22 Total fvnd5 UnrestriLXed fund Restricted rund Notes FIXED ASSETS Investments 914065 914,065 837,140 CURRENT ASSETS Prepaytnent$ and accrued incom¢ Cash in hand 6,324 13,119 6.324 13.119 6J24 9.948 19,443 19,443 16272 CREDITORS knounts f811ing due Mithi'n on¢ year (480) (480) (480) NET CuRREf￿ ASSETS 18.963 l8,963 l5,792 TOTAL ASSETS LESS CURRENT LIABILITIES 933,Q28 933,028 851932 NET ASSETS 933.028 933.028 852.932 FUNDS Unr¢stric*d funds.. Cven¢r81 fund 933,028 852,932 TOTAL FUIYDS 933.028 852.932 The financial statements were approved by the Board of TrustgC5 and authoriscd for issuc on . and were signed on its b¢ha]f by.. Mrs C A Buchanan- Ttwtee Th¢ note5 fomi part of these fill&noiol statements Pagc 6 THK HR PRI￿ BOOILMAN FAMILY FOLNDATION PIOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES B451s of preparfing tht financial $tAtemettts The financial stat¢rnents of the charity. which is & public bencfit entily under l.'RS 102, h&vc beet] prep￿￿1 i accordance ￿1th the Charilies SOIIF (FRS 102) 'Accounlins and RewrLing by CTharitie8: Stath¢nt of RwommendeA Practice applicablE to charities preparing thcir accounts in accordance with th¢ Financial R¢portin8 Standard applicable in the UK and Republic of Ireland (FRS 102) (eff￿live l January 2019).. Financial Reporting Standard 102 fiiian¢ial R4)orting Standard applicable in ihe UK and RqMbli¢ of Ireland, and the Charities Act 2011. 'fhe financial statements have been prepared under the ILiStorical cost convention. the exception of investments which arc included at market value, as moditied ly..- the revaluation of certain assets. Income .111 income is reco￿lSed in the Slat¢ment of FinonLl*l Actii"ities once the ¢harity has entitlement to the funds, it is probable that the income will be rec¢iv¢d and the amount Can be measured r¢li&bly. Expemdlture Liabilities arc reco8nised extKnditur¢ as soon as ther¢ is a legal or constructive oblis&tion committing Ihc charity to that expenditure. it is probable that a traJ)sfrr of economic IKnefits wll be rcquir¢d in settl¢menl and the amount ofthe obligation can bb meLsured reliably, ExpEnditure is accountrd lor on an Y4ccruo15 basis fAnd h&8 be¢n Llassified under h¢ading5 that wg&te all cost rdated to the Category. WE)ere cos1¥ ¢annot b¢ directly attributed to parti¢ular heading5 they have been allocated to 8Ctiviti¢s on a basis wttsiqtent with the use of ourGes. (yrfjnls otTered subject to conditions v4hich have not m¢t At the year end d8te are noted as a conunitsrtent bul not accrued a5 n¢inued... THE HR PIi4TT BOORMAN FAMILY FOL,NDATION NOTES TO THE FINANCYAL STATEMENTS- continued FOR THE YEAR ETr]DED 31 DECEMBER 2023 TRUSTEES, REMUNERATION AIYD BENEFITS The￿ were no trusteel renwation or olher benefits for the year ended 31 December 2023 nor 'tor ihe year ended 31 D¢cember 2022. Tru5tees' exp¢n$ There were no tru5tees' expenses paid for the year ¢nded 31 December 2023 nor for the y¢ar ended 31 De¢ember 2022. COMPARATIVES FOR THE STA TEMENT OF FINANCIAL ACTIVITIES Unrestricled fund Restricled fund Tolal funds INCOME AND Ef¥DOWMENTS FROM Inv¢simerAi income 25.104 25,104 EXPENDITURE ON Cbaritable a¢tiviÉieJ Grants Govemancc wsts 23,830 89 23.830 89 Total 23,919 23,919 Nc4 gainsl(losw) on investrnertts (110,153) (110,153) NET INCOMEI(EXFENDITURE) (108,968) (108,968) RECONCILIATION OF FUNDS Total fund5 broughi forward 961900 961.900 TOTAL FUNDS C,IRRJED FORWARD 852.932 852,932 STAFF COSTS The charity h&8 no employees in the CUTrcnt or prior year. P&8e 8 ntinu¥d,.. THE HR PK4TT BOORMAN FAMILY FOb]IDATION NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED JI DECEMBER 2023 FIXED ASSET INVESTMENTS CharitiC5 Investmenl Fund M4RKET VALUE At l January 2023 R¢valuations 837.140 76.925 At 31 Deoernber 2023 914.065 NET BOOK VALUE At 31 Decemb¢r W23 914,06S At 31 December 2022 837,140 TheT¢ ii=re no investntrnt assets outside the UK. Cos¢ or valuation at 31 De￿rnber 2023 is repr¢sgnÉed by: Charities Inveslmcnt Fund Valuation in 2023 914.065 CREDITORS: .IMOUNTS FALLINC DUE WITHIN ONE YEAR 31.12.23 31,12.22 Other creditors 480 480 MOVEMENT IN FUNDS Net movement in fvnd5 At 31.12.23 At 1.1.23 Ullrestrlcted fuDds Genera] fund 852.932 80,096 933,028 TOTAL FUNDS 852.932 80.096 933.028 Net movenient in fund& included in the above are as follows.. Incoming resouLf¢S R¢gources expended Gains and 1055CS Movem¢nL in funds UDTe$tricted fuDds G¢ner&l fund 25,113 (21.942) 76,925 80.096 TOTAL FUNDS 25.113 (21.942) 76.925 80.096 Page 9 continued.. THE HR PRATT BOORMAN FAMILY FOUNDATIO.W NOTES TO THE FINAhCtAL sfA TEMENTS- eontinued FOR THE YEAR ENDED 31 DECEMBER 2023 MOtrEMENT IN FiiNDS- continued Comparatlve$ for movement in tsnds Net mov¢m¢nt in funds At 31.12.22 At 1.122 UDre5tricted funds Gen¢ral.bJnd 961,900 (108,968) 852,932 TOTAL FUNDS 961.900 1108,968) 852.932 com￿r4t(ve n¢t tnoi"ement in funds, includ¢d in th¢ above are as follows". Incoming Resourccs expended Gains and losses Movcmcnt in funds Unrestricted fund$ General fund 25,104 (23,919) (110.153) [108,968) TOTAL FUNDS 25.104 123,919) (110,153) (108,968) A current year l2 months and prior year 12 month,% wmbined posilion is as follows., Nct moi'anent in funds At 31.12.23 At 1.1.22 Unrestrletsd fwids 961.900 (28.872) 933,028 TOTAL FUNI 961.900 (28,872) 933,028 A current year 12 mouths und prior year 12 nY)nths combined net ffjoi'¢ment in funds, in¢ludcd in the ll￿ve tLre as fi)Ilows'. Incoming rwurces REsources expendryj Gains and losses Movement infin Ullrestrleted futtds General fund 50,217 (45.861) (33,228) (28,872) TOTAL FUNDS 50217 (45,861) (33,228) (28,872) Pwlo continu¥d... THE HR PRA￿ BOORMAN FAMILY FOLNDATIOIY NOTES TO THE FINANCI IL STA TEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 21)23 RELATEI) PARTY DISCLOSURES There wcre Telated party transactions for the year ended 31 December 2023. Page 11 THE HR PRaTh BOORMAN FAMILY FOUNDATION DETAILED STA TEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 INCOME AND ENDOWMEiYrs InvestmeDt Income Deposit account int¢re8t Dividen(ts received 19 25,094 25,093 25,113 25,104 Total incomlng r￿OUrCe• 25,113 25,104 XPENDITURE Ch4rit4ble activities Grnnts to in8tÈtutions 21,863 23.830 Support costs Flnan¢e Bank char8¢S 79 89 ToLal resourc¢3 ex￿nded 21,942 23.919 Net Inconbe before E8ing and loss 3,171 1,185 Realised r¢cogDis¢d galDs and losses RLa]ised gainsl(losses) on fjxed as8Ct inv¢stmcnts 76.925 (110,153) Net Ineomtl(exp¢ndltur¢) 80.096 Q108,968) This page does not fom part tsf the stAtutory fiD&n¢ial st2tements Pa8¢ 12