2022-03-31-accounts

l..eeds Community Foundation Community Foundation for Leeds Company registration number: 04443312 Charity Number: 1096892 Trustees, Report and Consolidated Financial Statements For the Year Ended 31" March 2022

Leeds Community Community Foundation for Leeds Foundation Trustees, Report and Consolidated Financial Statements for the year ended 31 March 2022 Trustees and Advisors Trustees Thom3s Bridges Ruth Bromley Will Clarke Roohi Collin5 Anihony Cooke Carolyn Cooper-Black Hugh Fairclough Carl Hawkes Cleveland Henry Michael Jackson Emily Jones Nicholas Lane Fox Corrina Lawrence John McGhee Sharon Orr Deirdre Reid Craig Suttle-Burton (resigned 12 fvlovemb2r 20211 lappointed 22 March 20221 lappointed 15 March 20221 lappointed 10 March 20221 (appointed 24 March 20221 lappointed 24 March 20221 (resigned 20 December 20211 (resigned 22 lune 20211 Company secretary Sylvie Nunn Registered office First Floor, 51a St Paul's Street, Leeds LSI 2TE Auditor Saffery Ch3mpness LLP Milre House, Morth Park Road. Harrogate, HGI 5RX Main bankers Santander UK plc 44 Merrion Street, Leeds ts2 81Q Investment managers Abrdn Bow Bells House. l Bread Street. London. EC4M 9HH cc Senator House, 85 Queen Victoria Street. London, EC4V 4ET Sarasin & Partners Ivxon House, 100 St Paul's Churchyaid, London, EC4M 8BU Rathbones Group plc Port of Liverpool Building. Pier Head, Liverpool. L3 INW Sollcitors Wrigleys, 19 Cookridge Street, Leeds, LS2 3AG

l_eeds Community Community Foundation for Leeds Foundation Trustees, Report and Consolidated Financial Statements for the year ended 31 March 2022 Contents The Trustees of the Community Foundation for Leeds (referred to throughout as Leeds Community Foundation, the Foundation or LCFI, who are also Directors of the Foundation for the purposes of the Companies Act, are pleased to present their Annual Report together with the Audited Financial Statements for the year ended 31 March 2022. Page Report of the Trustees and Strategic Report Chair's Statement Chief Executive's Review Financial Review Trustees, Subcommittee Members and Staff Structure, fjovernance and Management 10-12 Statement of Responsibilities 13-14 Independent Auditors. Report IS-18 Financial Statements Statement of Financial Activities 19 Consolidated St2tement of Financial Activities 20 Balance Sheet 21 Consolidated Balance Sheet 22 Consolidated Statement of Cash Flows and Net Debt Analysis 23 Notes to the Financial Stalements 24to53

Leeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Chair's Statement It is my pleasure and honour to introduce another set of impressive financial statements for Leeds Community Foundation. Two years on from the first lockdown, our cities and the activity of the Foundation continue to respond on behalf of communities, in the face of sei5rnic and unpredictable change. These financial statements cover the third year of our five-year plan- Plan 2024= Ambitious for All ancl at the midpoint, we took the time lo refresh our 'North Star,. which is our ten-year set of guiding goals. These are av2ilablÈ online here. North-Star-LCF-2022. df leed5cf.or Our core function remains to develop local philanthropic funds and to distribute them equitably, effectively and efficiently, in the form of grants, investing in the communities of Leeds and Bradford. Leeds Community FoLJndation ILCFI is a registered charity. 5UPPOrting thousands of local charilies and voluniary groups across the city of Leeds and increasingly the city of Bradford, addressing inequalities and working together to help create opportunitie5 for those that most need help. We Invest in these community organisations by distributing grants and sharing advice- acting as a catalyst for positive change. The Foundation relies on the generosity of individuals, businesses and public sector org3nisations. Together, we help Ioc31 people gain the support they need through the expertise and experience Df community organis31ions, investing in a brighter future for 311. We are accredited by UKCF, an organisatron that brings together a natiorTral network of 47 accredited Community Foundations acro55 the UK. who between them, manage a colleclive endowment of over £700m and by 2019 had awarded over £lbillion in grants over the lifetime of community foundations in the UK. Our quality accreditation renewed in 2021. when LCF passed the Quality Assurance proce55 Wlth flying colours. The Foundation also manages three other entities.. Bradford District Community Foundation IBDCFI, The B G Campbell Trust Fund IBGC}, and GFS Commurbity Enterprise IGFSI. Summary of plans and priorities during 202112022: Plan 2024 Our deep commitment to Diversity, Equity and Inclusion, championed at Board level by our Deputy Chair, Cleveland Henry, has been embedded acr055 all activity, supporting thousands of local charitie5 and voluntary groups Icomrnunity Organisalions or community organisationsl, across Bradford district, as well as Leeds. We use the expertise and experience built up over more than seventeen years to help create opporlunilies for those experiencing inequity. Our CEO was asked by the Mayor of West Yorkshire, Tracy Brabin, to lead a consultation on her manifesto pledge for a 'Fair Work Charter., drawinE Énput from all sectors. The Board decided to focus on five of the UN Sustainable Development Goals, which are now being integrated into the Foundation'5 plan5-. Goal l.. No Poverty,. Goal 3= Good Health and Wellbeir)g,' Goèl 10- Reduced Inequalities; Goal Il= Sustainable Cities and Communities,. and Goal 13.. Climate Action. Strengthen the community sector through grant making Grant making through the four pillars of our Theory of Change strengthens the community sector with financial resources and provides a basis for a55imilating knowledge across Leeds and Bradford. These can be viewed online here. About Us Leeds Communit Foundation leedscf.or .uk To ensure we deliver on our vision and values. our Toc is directed to four areas of community experience that provide long term 'opportunity' for people in Leeds and Bradford: being healthy and well Page I

l_eeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Chair's Statement (continued) thriving and being safe 1È3rning, working and being financially well experiencing and playing To create positive change and promote opportunity in these four areas we enable trusted community organisations- who are engaged with the communities they serve - to deliver high quality. OLrtcome-focusèd activities that addiess inequalities in the cities of Leeds and Bradford. During this year, £4million in grants wa5 distributed, equ3tinE to 675 grants paid to 347 communitv org3nisations. Thè average grant size was £10,000, reflectinE our aim to distribute awards for longer-term Imulti-yearl s(Jpport, where possible. Our donors have been p3rlicularly flexible in supporting this move. We grew our knowledge of grass roots activity by increasing the involvement of local people with lived experience in our grant making decisions. Changes were implemented to make our website and grant application forms more accessible. and we invested in our staff team. Our ftjnding rounds continue to be oversubscribed. We work hard to avoid wasted efforts by our applicants, providing briefing and guidance, but demand continues to rise - a reflection of challenging times. Strengthen Philanthropy It wa5 a tough year for philanthropy, as so many opportunities to develop relationships were curtailed due to lack of face-to-face events and by many businesses focusing on their own internal operational concerns and. in some cases, their very survival. Whilsl there was some recognition of the role of communities during a time of crisis, the after-effects of the pandemic are likely to continue lo affect philanthropy for some yeors lo come. The Bradford Fund was laLJnched during the year and has begun to build momentum. Work with professional advisors has begun again in earnest. A refreshed and strengthened iievelopment team have worked hard to stay in c105e contact with members and donors- both new and long-standing. Strengthen Partnership and Programmes Working under the banner ol GiveBradford, we have set up a mechanism to allow funding to flow through to the city of Bradford. either through the Foundation or the newly reinvigorated Bradford District Community Foundation IBDCFI, formerly a dormant charity managed by the Foundation. Detailed fundament31 work on governance and structure have progressed activity that will deliver real benefit for the city. We set a target to streamline our portfolio of programmes and align them with our Theory of Change- we have made some progress with this, although there remain a lot of programmes to manage. The Resilience programmes which we ran through the Leeds and Bradford Funds have been particularly successful, and have provided strategic fundin8 for community organisations to allow them to think through their future operations, as well as giving additional wrap around support and collaboration. Feedback from a recent Resilience Fund event summed up one participanys reaction- A great- inspirntionol- venue. A room full of people in the st7me choprer of the same book Il'dbe deeply troubled if we were all on the same pogej Well thought-out Structure A chunce ro speok and encouragement to listen (... J No ogendo other than thot porticiponts get 50methingfrom it. Whot on amozing woy to spend a morning Page 2

Leeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Chalr's Statement (continued) Strensthen expertise and knowledge The impact team analysed and shared data on community organi5ations. circulating the learning through into new programmes and plarbs. We continue to research and promote platforms for increasing engagement bv communities in decisions that affect them. We share that insiEhi/knowledg@ where it will contribute to achieving impact and delivering our mission. External Affairs Wider discourse about 'buildinE back betterf provided a platform for sharing our story more widely and in greater depih amongst the philanthropic press. An example of which can be viewed online here. Kate Hain5worth: 'Levellin ' becomes'e uit when ou involve communities civilsociet .co.uk External Affairs combine5 all the cownfflunicatÉon work conducted by the Foundation- both external and internal- and therefore encompa5se5 marketing. PR. digital. advocacy and internal communications. The team worked hard to retain contact with our donors and reach out to new ones when it was difficult to meet face-to- face. Finance and Governance Our financial objective is to serve our communities now and in the futurè with a mixture of iTrvestments. The team and Board have worked hèrd to manage immediate impact funds invested in communities now, as well as enhance endowment funds to provide for local community activity in years to come. The task of monitorinE and regulatin8 the four legal entities under the management of the Foundatiori Is no small matter, but is effectively delivered and controlled by the team. Despite manifold challenges. the strong and dedicated leadership team of Kate Hainsworth. Karen Devonport, Steph Taylor and Helen Ball have led an exceptional team to deliver on behalf of communities. Our Board was recently refreshed via a powerful recruitment campaign and I'm delighted to welcome new colleagues and also to place on record my sincere thanks to trustee colleagues who have all continued to step up during difficult times. I would also like to express my thanks for ihe years of service of those trustees who have stepped down during the year.. Craig Burton. John McGhee and Tom Bridges. The gift of their time and wisdom has been invaluable for the Foundation. We are hugely grateful to all the volunteers whose support allows us to do more than we otherwise could. 146 volunteers worked with us in a variety of contexts over the year. providing 1,455 hours of additional work. It is an honour to chair the board of tru5tee5 for thi5 exceptional charity. Nick Lane Fox Chair of Trustees Pa8e 3

Leeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Chief Executive's Review It is a privilege and responsibility to be Chief Executive of Leeds Community Foundation at thi5 time, when communities and individuals are more than ever in need of our support. l am hugely proud Df the team of expert professionals who work at, ancl with. the Foundation to deliver that support day in. day out.. they are my constant inspiiation and motivation. Our vision Leeds Community Foundation is creating cities of opportunity for all in Leeds and Bradford. We work together with partners to create posilive change with the communities that need it most, by investing funding and experlise to build a better future now. Our values Leeds Commtjnity Foundation is ambitious for all- We are passionate about creating positive impact for all our communities We are open and honest We are a responsive partner We empower through learning. sharing knowledge and eypertise We challenge as well as support Reflection on 202112022 Wè remain grateful to all donors supporting the wide variety of activity delivered and fundeLI during the year. As mentioned in the Chairfs Statement, I would like to highlight.. A tough year for development work. as so many of our usual donors had to be focussed on thelr own businesses and operations- Most funds were oversubscribed, reflecting a very tough year for the groups we support. Looking forward to 202212023 and beyond with Plan 2024 As Plan 2024 moves into its fourth year, we continue to report on key findings and use that analysis to steer future work. After lockdowns in 2020 and 2021. regrouping has been crucial to assess progress this year, providing the team with clarity on operational working. Next year, we will begin the process of reviewing our Theory of Change, drawing on internal and external perspectives, to drive the focu5 of our grant making, in readiness for 8 full review in 2024. Our cletermination to be 'ambitious for all. aligns closely with the globally designed UN Sustainable Development Goals IUNSDGS) that operate at the local level. We report how the grant makin8 undertaken aligns with the UNSDGS, so that any supporter or partner working wilh us can see how they too are helping achieve those UNSDG5 that fit with our activity and impact. Current tracking shows that Sustainable Cities 3fbd Communities UNSDG 113ccounts for the majority. 34% of our funding, c105ely followed at 30% by Good Health and Wellbeing IUNSDG 31. Other priorities we have identified are No Poverty IUNSDG 11 at 19%, Reduced inequalities IUNSDG 101 at 4% and Climate Action IUNSDG131 Currently at 0% although Responsible Consumption 3nd Production IUNSDG 121 accounts for 1%. We will report further on these in the coming year. Embedding Diversity. Equity and Inclusion IDEII throughout our operations means that no one 15 'gatekeeper' to this work and everyone is fully trained. The priority this year will be a review of our processes that began in 2021, consulting with communities and stakeholders to ensure our activity is fully accessible to all and supported by the necessary technology. Thi5 will involve a substantial new investment in our Customer Page 4

Leeds Community Foundation Community Foundation for Leeds Report of the Trustees and Strategic Report for the year ended 31 March 2022 Chief Executbve's Review (continued) Relationship Management ICRMI system, so we have designated a portion of our reserves towards reviewing our end-lo-end processes Trusting partnership5 Wlth community organisations. donors. and other local. regional and national funders enhances the Foundation's reputation as 'honest broker, and allows us to focus orn those areas of grant making that are not reached by other funders. We priorit15e securing long-term investments from donors and, in particular, drive local philanthropy to ensure the income MIK for our prograffimes remains diverse and best able to Support sector resilience. Impart learning informs our Erant making programmes by being responsive to community voices. This year, we will continue our focus on understanding our communities better, co-designing programmes with them and becoming a relational grant maker.. aware of our power and privilege. flexible in our approach and led by people representative of our partner communities. A5 the largest regional broker of large-scale community philanthropy with the expertise, knowledge and connections to drive more and better corporate, individual and legacy giving, we will centre our efforts on increasing thè volume of multi-year. flexible funding into the sector and will prioritlse long-term sustainabilitv over short-term wins. Our aim is to maintain the balance between philanthropic income and statutory/national funds, as we know that works well for communities. We will deliver on existing programme commitments and excellent Stewardship of pro8rammes, sharing wilh donois the impact of aligning with our aims to build a resilient community sector. Grant making During 202212023, our intention is to build on our agility and flexibility as a relational grant maker. responding to ever-changing community need and. where feasible, supporting more flexible, longer-term, and larger multi- year grant5. We involve more local people with lived experience in our grant making decisions. and are piloting work targeted at groups currently under represented in our grant portfolio. We have also tried to remove barriers for our applicants and grani holders by refre5hinB our systems and processes, leading to 50The piloting of new approaches to grant making. Expertise We will build on the work of the past three years. putting the learning we have gained into practice. We continue to focus on understanding communitie5, demonstrating our outcomes and impact and contributing to improving our own work and o￿a￿lsatIon, so that we are the best 6rant makers th3t we can be. Philanthropy In order to achieve our grant making objectives. we consider our produrt5 according to their ability to facilitate flexibility 3nd responsiveness in grant making, and the opportunity ihey give us to strer¢gthen and diversify our donor portfolio. Closer workinB between our Development and Programmes teams is a real feature of this plan, and 2022123 is a year for us to test ideas and pilot new approaches that we evaluaie and build upon to inform future development strateEY. As we work towards the end of Plan 2024, we want to be able to look back on successes but also create a foundation on which to build longer-term community investment models. Statutory and national parinershlps Statutory and national partnerships complement local philanthropic income sources, and allow us to offer Page S

l.eeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Chief Executive's Review (continued) project funding to community organisations who otherwise might miss national investment and who don't have the capacity or connection to fundraise directly. We continue to partner with Leeds City Council, 8radford Metropolitan Districi Council, health, policing and other statutory bodies tD ensure the comrnunity sector ha5 a role in city priorities and to maximi5e local investment. We will reach out to national institutional funders who might not otherwise have a route into investment in our area. and we will continue to distribute UKCF-sourced funds as parE of the UK Community Foundation network. Communications and External Affairs With a refreshed brand alongside our menu of products, and steady growth in our digital capacity and expertise, the remainder of Plan 2024 activity will concentrate on a ceview of some of our key conimunications channels with a DEI lens. Fresh campaigns will highlight impact, build income, advocacy and thought leadership and support our Work in Bradford. All èctivity will support the Programmes and Development teams, a5 well as the wider organisation, to realise our vision and live by our values. Finance, Resources and Governance Our financial objective is to serve our communities now and in the futuie through immediate Impact funds invested in communities now, and endowment fund5 for years to come. We aim to distribute grants of between £3million to ESmillion per year. The operational process review will help to focus on OLJr grants being more accessible to 311 communities and funds have been allocated from our reserves to update our internal processes. database and management system. Risks The Foundation has a detailed Risk Management policy in place. based on the identification of potential strategic, business and operational risks. The principal risks faced by the Foundation have been identified as 1055 of key 5ta(f, failure to meet financial targets, adverse publicity about a donor or a funded group. and cyber security. Acknowledgements I would particularly like to thank Nick Lane Fox as Chair and John McGhee and Cleveland Henry as former and current Deputy Chair, as well as all trustee5 for iheir commitment and personal support. Successful operation of this Foundation depend5 On the team_ l am immensely proud to work with our staff, trustees, partners, ambassadors, patrons, supporters and friends. and the many individuals who support the Foundation by provid4ng donations, referrals. signposting. sponsorship. in-kind sUPPOrt and much more. Local community organisations, nourished by Foundation and other grants, consistently clemon5trate the way forward. Things may be tough right now, but If we follow their lead with the same energy and passion they have for communities, I'm confident we can share a thriving and empowered community environment 3cr055 Leeds and Bradford for years to come. Kate Hainsworth Chief Executive Page 6

Leeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Financial Review Funding I he Foundation is committed to seeking funding from a wide range of sources, ensuring ihat income streams are diversified and LCF is not overly reliant on any single source of funding. Further details are included orh page 12 under our Fundraising Policy. Financial Statements Community Foundation for Leeds is the sole member of Bradford District Community Foundation - a company limited by guarantee (registered company number 6852262. registered charity number 11315881. The financial statements and activities of Bradford Distrirt Community Foundation have been consolidated with these financial statements. The financial statements have been prepared under the historical cost corbvention and In accordance wlth Statement of Recommended Practice 'AccountlllE and ReportTng by Charilies, li55ued in December 20191 and applicable United KinEdom accounting standards including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Our financial perfofmance and the movement in funds is shown in the Statement of Financial Activities. The charity maintained tight control over core costs and generated income in excess of expenditure on its unrestrictèd funds of £3.00012021.. £78,000>. The tolal funds of the charity (unrestricted funds, restricted Immediate impact funds and restricted endowment fundsl amounted to £28.408,000 at 31 March 202212021= £27,417,ODOI. The charity generated total income in the year of £4.6million12021.. £7millionl. This wa5 significantly lower tharb the prior year IFY20211 due to the restricted resilience funding received in that year for grant makinE to charities to a5$1St with the pressures arising from the pandemic. Some of that funding was distributed this year and in total the chaiity eKpended £4.7m on charitable activities in the year ending March 2022. Total expenditure in the year amounted to £5million. The group incurred expenditure in excess of income on its unrestrirted funds of £34.000 12021.. income £357,000>. The total fund5 of the group (unrestricted funds, restricted immediate impact funds and restricted endowment funds) amounted to £28,654.000 at 31 March 202212021.. £27,696,000). Intercompany recharge5 for finance and administration payable to LCF from Bradford District Community Foundation were eliminated on consolidation. Although the latter part of the year was difficult within the investment market, the trustee5 were pleased to reporl net unrealised 831r15 on the investment portfolio of El.4million. These gains increase the value of our endowment funds at the year-end which amounted to £24.2million12021.. £22.8millionl. Tru5tee5 have pè5sed a total return resolution for permanent endowments- more information is included in note 25. The charity maintains sufficient funrls wiihin bank accounts to cover the planned distributions to charities as well as the working capital required on a day to day basis, and at the year-end cash at bank stood at E4.3million for the charity and £4.6million on consolidation with the Bradford District Community Foundation. Overall, the Trustee5 are delighted that once again the charity has been able to distribute over £4million in granls to the local community in accordance with our aims and objectives See note 9. This has been done whi15t keeping control over our core costs. much to the credit of the senior management team. The financial management of the charity and ils financial position at the year-end give the Trustees confidence to conclude that the charity remains a going concern. Page 7

Leeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Financial Review {continued) Reserve5 Policy I he reserves of the Foundation are composed of restricted and unrestricted funds. These funds are maintained at a sufficient level in order to 311ow the smooth operation of our activities. Unrestricted Reserves= The Truslees are committed to buildsng up general unrestricted reserves to ensure that the core activilies of the Foundation will conlinue into the future. Following best practice advice from the Charitv Commission, the trustees carry out an annual review of the rese￿e5 policy. The Trustees consider the range of reserves required are represented by the following 2 scenarios- 11 the Foundation ceases to operate and the legal obligations to pay which would be incurred,. and 21 the Foundation needs to implement a turnaround plan and the running costs which would be needed during this period. This currently gives a target range of reserves of £201.000 to £477,000. The Trustees report that the free general reserves of the Foundation lour unrestrirted reserves less our fixed asseisl at 31 March 2022 have increased to £596,00012021.. £578,000). This figure reduces to £471,000 after the transfer to the designated reserve (see below). The free reserves of the Foundation are forecast to reduce over the next year as an exp3nded staff team enables us to increase our focus on programmes, Impact measurement and our development activity on our longer-term aim of raising endowment. Desi nated reserves.. Designated funds are those unrestricted funds which have been set aside by trustees for an e55ential spend or future purpose. These funds ale then 'ring-fenced' and no longer fortn part of unrestricted general funds. During 2022 the trustees have designated £125,000 to cover IT project costs for the UXCF Salesforce transformation initiative which will span 2022123 and 2023124- and for an in-depth review of our Sale5force proce5se5 to ensure that we are best placed when moving forward with the UKCF initiative. The designated fund will cover consuliant and salary costs, System development Costs and shared project costs. Restricted Reserves.. The comp051tion of. and movement in, restricted reserves is shown in note 23 to the finantial st3tements. The restricted funds at the year-end were either held in the form of cash In bank account5 or in investments. Details of investments held are shown in note 13. The current level of restricted funds, and the ongoing arrangements relating to those funds, is sufficient to maintain the specific projects they relate to. Investment Policy The Trustees work with their investment advisors. Abrdn, CCLA, Rathbones and Sarasin & Partners, to ensure their policies and investments are suitable. A copy of our investment policy is available on our website. The March 2020 Trustees meeting approved the recommendation that the incumbent investment managers CCLA and Aberdeen Standard Capital - be reappointed alongside the investfflent managers for The BG Campbell Trust Fund Rathbones and Sara5in. This Trustees meeting also approved the recommendatlon that the investments be splil 3cross these four investment managers to diversify the portfolios and spre3d the risk for each charity. The process to transfer funds between the four investment rnanagers was completed in lurbe 2021. Commitment5 The Trustees had made no commitment5 to future capital purchases, nor given any guarantees, at the balance sheet date. 3(Tr, ?022 16-.19 GklT+II Michael jackson Trustee and Treasurer 21 September 2022 Page 8

Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Trustees Trustees details can be found on our website www.leedscf.or Trustees, attendance at board meètings for the year ended 31 March 2022 Trustee % attendance14 meetings per yearl Appointedlresigned in the year Thomas Bridges Ruth Bromley Will Clarke Roohi Collins Anthony Cooke Carolyn Cooper-Black Hugh Fairclc>ugh Carl Hawkes Resigned November 2021 Appointed 22 March 2022 Appointed 15 March 2022 loo% loo% 75% Appoinled 10 March 2022 Appointed 24 Marth 2022 Cleveland Henry Michael jackson loo% Emily Jonès Nicholas Lanè Fox Corrina Lawrence John McGhee Sharon Orr Deirdre Reid Appointed 24 March 2022 loo% 75% 33% IOOY• 75% loo% Resigned December 2021 Craig Sutlle-Burton Resigned June 2021 Staffing Kate Hainsworth is our chief Executive and previously Development Directori joining LCF in 2015. Kate read Classlcs at Oxford before doing management training with Total Oil GB and a London marketing consultancy. She worked in Europe (Belgium and Francel, and ha5 further deErees from ihe Open University and Sheffield H311am Univer51ty. she returned to Leeds to work in senior cultural posts at Axis, Yorkshire Culture and Opera North. Staff team Details of the staff team can be found on our website Our Team Leeds Communit Foundation leedscf.or Subcommittees The Board delegates to four main subcommittees. each of which includes two or more Trustees and a number of other voluntary members. The subcommittees are= External Affairs Income Generation Progr3mmes Resources and Governance The subcommittees meet a minimum of three times a year. Page 9

l_eeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Structure, Governance and Management Status Leeds Community Foundation comprises two separate organisations whose financial statements and activities are incorporated within this reporl.. Communily Foundation for Leeds a company limited by guarantee {No. 44433121 and a registered charity INO. 10968921. Leeds Community Foundation Trust- a charitable trust which holds donations of permanent endowments to the Community Foundation. Thi5 ha5 enabled several historic trusts to be transferred. Community Foundation for Leeds is the sole member of Bradford District Community Fovndation a company limited by guarantee (registered company number 6852262. registered charity number 11315881. The financial statements and activities of Bradford District Community Foundation have been consolidated with these financial statements. Community Foundation for Leed5 is the sole member of GFS Community Enterprise a company limited by gtjarèntee Iregistered company number 10042412, registered charity number 11694621. The financial statements and activitie5 of GFS Community Enterprise have not been consolidated within these financial statements as the Trustees have cletermined that the control conditions as set out in the Charities SORP are not met. Community Foundation for Leed5 is Corporate Trustee of The BG Campbell Trust Fund Iregistered charity number 2553691. The financial statements and activities of The BG Campbell Trust Fund have not been consolidated within these financial statements due to the differing objects of the two charities. Trustees The Trustees are appointed by the Board of Trustee5. The trust deed allows for a minimum of four Trustees and no maximum. One ihird lor the number nearest one thirdl of the Trustees must retire each year. those longest in office retiring first. A retiring Trustee who remains qualified may be reappointed for a maximum of 3 consecutive terms of office, following which they may only be eligible for re-election for one or more further terms if they are invited to stand by at least two thirds of the trustees (not including the trustee whose re-election is being considered). Meetings The Board of Trustees meet every quarter. At the meetings, the Trustees agree the broad strategy arbd areas of activity of the Foundation. including ratification of grants that are made and a review of the live risk register. Policies and Procedures adopted for Recruitment. Inductlon and Training of Trustee5 The Board keeps the skill requirement5 for the Trustee Body under review. Any recruitment ol new Trustees is undertaken by open advertisement and through 3 draloBue wilh interested partie5. When an individual expresses an interest in becoming a Trustee. an initial meeting is held with the Chair or Chief Executive. Referènces are sought and a proposal to appoint a new Trustee is submitted to the Board for approval. Once an appointment ha5 been made, the newly elected Trustee undergoes an induction programme. The Foundation keeps up-to-date with key devèlopments and training is provided to Trustees as and when required. PaEe 10

L_eeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Structure, Governance and Management (continued) Plan of Action and Budget A detailed plan of aclion and accompanying budget are submitted lor approval by ihe Board of Trustees on an annu31 basis. The day-to-day running of the Foundation is delegated to the Chief Executive, who has the power to act and take decisions. as long as they are contained within the plan. Any deviations from, or additions to. the plan have to receive approval from the Board of Trustees. The Chief Executive has a regular monthly review meeting with the Chair of the Trustees and written reports detailing progress and future planned activily are presented to the subcommittee meetings and from there to the Board meetings. UK Community Foundation5 (UKCF) The Foundation is part of a national network of 47 independent Foundalion5 that are located thrDughout England, Wales, Scotland and Northerr) Ireland. UKCF provides ongoing help and support to local Foundations. represents the local Foundations at a national and international level and negotiates and manages national grant- making and funding opportunities. The Foundation pays UKCF an annual membership fee. Role of Volunteers Volunteers can be trustees, members of the subcommittees, members of the @rant panels. and/Dr perform a range of other duties for the Foundation. A volunteer policy and volunteer handbook cover the recruitn)ent and training of volunteer5 and detail the support that is providèd. Recruilment of volunteers is by way of open aclvertisement. with potential volunteers being invited to submit a brief CV. or summary of their experience, and attend an initial meeting with the relevant member of the Management Team IMTI and the Volunteer Manager, Personal or work references are normally requested and each volunteer is asked to $18n 3 Volunteer Agreement. Full training is offered to all volunteers, particularly those who sit on the Foundation's grants pane15 or carry OLJt Erants assessments. All regular volunteers are invited to attend review meetings with the Volunteer Manager. Risk Management Policy The Foundation has a detailed Risk Management policy in place, based on the identificat40n of potential strateEIC, business and operational risks. The principal risks faced by the Foundation have been identifiecl as loss of key staff: failure to meet financi31 targets- adverse publicity about a donor or a funded group and cyber security. A live Risk Register details risk5 identified and rates the likelihood of a risk OCCLJrring ar)d the severity of the risk to determine a risk value. Controls and processes to mitigate the risk are then determined and the effectiveness of these controls 15 èV31uated. The final risk value is then categorised as low, moderate or high. Where controls are not yet in place, or controls are not yet effective, there is a specific action plan and responsibility is allocated for each risk to a named member of staff and a Trustee. Each subcommittee reviews their relevant risk5 at the quartefly meetings. The Resources and Govern3nce committee maintains an overview of 311 risks on a quarterly basis. Those risks that are considered to be high or moderate are revieweij at Board meetings, together with agreed actions to be taken to continue to mitigate or eliminate them. Page 11

l_eeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Structure, Governance and Management (continued) Quality Assurance The Foundation has achieved accreditation under UKCF'S quality aCc￿dI1at10n scheme. The accreditation process takes place via an independent third-party provider and on a 3-4-ye3r cycle with the most recent accreditation confirmed in October 2021. Fundraising Policy Leeds CommLJnity Foundation raises funds in a number of different ways. Encouraging donors to open a Named Fund to provide a simple alteinative to establishing an independent Trust or Foundation. The donor can invest via an endowment or set up an imrnediate impact fund. Our membership is a speci31 patronage scheme for individuals and companiès motivated to do Something for Leeds and who would like to meet and network with other like-minded individuals. The Leeds Fund accepts contributions from individuals and companie5 wanting to Support the city. either through a one-off donation or by choosing the fund as Charity of the Year. Sponsorship opportunities are available for a serie5 of events we organise. The Foundation does not use a professional fundraiser or commercial partlClP3tor to raise funds and we do not directly approach individual members of the public. Local press campaigns are used to raise awareness of our work and advise people how to donate should they wish to do so. During the year, no complaints have been received about our fundraising activitie5. Our fundrai5inE practices comply with Charities Act 2011. the Charities (Protection and Social Investment) Act 2016, and the Code of Fundraising Practice. Granl-making Policy The majority of our grant making is in Leeds, though we also deliver a significant number of funds In Bradford and some across a much wider north of England footprint. Unless otherwise Stated. all funding 5tream5 are open to third sector oiganisations. The potential recipient does not need to be a registered charity to apply for funds, as long as the organisation has charitable aims and ha5 a structure in place to show that it is properly run. Appropriate due diligence is always carried out before any grant IS Issued. Unless otherwise stated in the grants guidelines for the separate funds, we cannot support.. general and major fundraising 3ppeals oversea5 travel or expeditions projects that would normally be funded from statutory sources, such as City Council, Local Education Authority and Hèalth Authority promotion of purely religious or political causes large national charities, èxcept for independent local branches working for local people expenditure which has already been committed before the application has been submitted sponsorship, fundraising events or adveftising In order to ensure that the grants awarded are being used effectivety, 311 grants recipients are required to submit monitoring and evaluation forms. Further applications for funding will not be accepted until the forms have been returned. Where grants are paid periodically, the subsequent instalment of any grant will not be paid until the monitoring form has been received. Page 12

Leeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Trustees Responsibilities Statement Statement of Public Benefit The Trustees have complied with the duly Iset out in Section 4 of the Charitie5 Act 20111 to have due regard to public benefit guidance published by the Charities Commission. The Trustees have ionsidered the public benefit delivered by the Foundation 2nd have made the following response.. Our uim is to benefit disadvuntaged communitties by making gn7llts tcl 5UPPOrt relevunt, USUC411y thuritable or voluntaryi organisations which make o difference to their local communities. We ensure these orgunisotions and their beneficiories are upproprit7te ond their aims meet ourobjectives. The groups we support deliver benefit to their communities in mony different ways.. theymake no poymentfor our services and no relevant groups are excludedfrom our upplication procedures. Our primaryfocus is on Leeds ond West Yorkshire,. there ore other members of UK Community Foundatlons providirtg slmilar servlces throughout the UK.- Full details of grants awarded are included on our website- www.leedscf.or£.uk. Financial Statement5 The trustees (who are also directors of Community Foundation for leed5 for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial stalement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the tharitable company and the group and of the incoming resources and application of resources, includinE the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them con515tently- observe the methods and principles in the Charitie5 SORP IFRS 1021,. make judgments and accounting estimates that are reasonable and prudent.. state whether applicable UK Accounting Standard5 have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropFlate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the finaniiBI p051tion of the charitable company and enable them to ensure that the financial stètements comply with the Companies Ait 2006. They are also responsible for safeEu3rding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularities. Page 13

Leeds Community Community Foundation for Leeds Foundation Report of the Trustees and Strategic Report for the year ended 31 March 2022 Trustees Responsibilities Statement {continued In so far as the Trusteès are aware= there is no relevant audit information of which the charitable company's auditor is unaware,. and the trustees have taken all the steps that they ought to have taken to make themselves aware of anv relevant audit information and to establish that the auditor is aware of that information. The trustees are responsible foi the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the Uniied Kingdorn governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Auditor Saffery Ch8mpness LLP were appointed as audilor in Marth 2020 and have expressed their willingness to remain in office. By order of the Board Approved by the Trustees on 21 September 2022 signed on their behalf by.. Nlck Lane Fox Chair of Trustees Registered Office First Floor, 51a St Paul'5 Street, Leeds, isl 2TE Page 14

Leeds Community Community Foundation for Leeds Foundation Independent Auditorfs Report to the members and trustees of Community Foundation for Leeds for the year ended 31 March 2022 Independent auditor's report to the members and trustees of Communlty Foundation for Leeds Opinion We have audited the financial 513tements of Community Foundation for Leeds Ithe 'parent charitable company'l and its subsi¢Jiaries (the 'group'l for the year ended 31 March 2022 which cotnPli5e the consolidated st3tÈmÈnt of financial activilies, the balancè sheet and the consolidated cash flow statement and notes to the financial statements, including significant accounting policies. Thè financial reporting framework that has been applied in their preparation is applicable law and United Kin8dom Accounting Standards, including Flnancial ReportinE Slandard 102, thè Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Geneially Accepted Accounting Practice). In our opinir)n ihe financial 5tatements-. give a true and fair vieiv of the state of the affairs of the group and the parent charitable company a5 at 31 March 2022 and of the group's incoming resources and application of resources. including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generalfy Accepted Accounting Practice- and have been prepared in accordance with the requiremenls of the Companies Act 2(H)6. Basis for opinion Wè condurted our audit in accordance with International Standards on Auditin8 IUKI IISAS IUKII and applicable law. Our re5pon51bilitie5 undèr those standard5 are furthei described in the Auditorfs responsibilities for the audit of the financial staternents section of our report. We are independent of ihe 8roup and parent charitable company in accordance with thÈ ethical requiremenls that are relevant to our audit of the fin3nci31 statemer)tS IT) the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accDrdance with these requirèmènts. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatSng to going concern In auditing the financial statements. we have concluded thal the trustees, use of the going concèrn basi5 of accounting in the preparation of the financial statemen15 is appropriate. Based on the work we have performed, we have not identified any material uncertaintie5 relating to events or condition5 that, individually or collectively. may cast significant doubt on the group orthe parent charitable company's ability to continue as a going concern for a period of at least twelve monihs from when the financial statements are authorised for issue. 0￿r iesponsibililies and the responsibilitie5 Qf the trustees with respect to going concern are described in the relevant section5 of th15 report. other Information The trustees are responsible for the other information. The other information comprises the information included in the 3nnual report, other than ihe fin6ncial 5tatement5 and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in )ur report. we do not express any form of assurance conclusion thereon. Page 15

Leeds Community Community Foundation for Leeds Foundation Independent Auditorfs Report to the members and trustees of Community Foundation for Leed5 for the year ended 31 March 2022 Independent auditor's report to the members and trustees of Community Foundation for Leeds (continued) Our responsibility is to read the other infoimation and. in doing so. consider whether the other information is materially incon515tent with the financial statements or our knowledge obtalned in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material rmisstatements. we are required to determinè whethér this give5 rise to a material misstatement in the financial statements thÈmselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other inlormatiorb,. we are required to report that fact. We have nothing to report in this regard. Other matters prèstribed by the Companies Act 2006 Irb our opinion. b3sed on the work undertaken in the course of the 3udit= the infoimation given in ihe Trusiees. Annual Report which ir￿l￿deS the Directors, Report for the financial year for which the financial statements are prepared is consistent with the financial 5tatement5,' and the Tru5tees' Annual Report which includes the Diiector5' Report has been prepared in accordance with applicable legal requiremenls. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the p31ent charitable company and their environment obtained in the course of the audit, we have nol Identified material misstatements in ihe Trustees, Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2(?)6 require us to report to vou if, in our opinion: adequate accounting records have not bÈèn kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us- or Ihe parent charitable company finaniial statements are not in agieement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by13w are not made: or we have not received all the information and explanaliorbs we require for our audit. Responsibilities of trustees As explained morè fully in the Statement of Trustees. Responsibilities set out on page 23. the trustees Iwho are also the directors of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a Irue and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of the financial statements that are f￿e from material misstatement, whether due tD fraud Dr Èrror. In preparing the Financial statements, the trustees are responsible for assessing the group and the parent charitable company's ability to continue as a going concèin, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the truslees either intend to liquidate the group or the parent charitable company or to cease operations, or have no ￿aliStIC alternaiwe but to do so. Page 16

Leeds Community Community Foundation for Leeds Foundation Independent Auditorfs Report to the members and trustees of Community Foundation for Leeds for the year ended 31 March 2022 Independent auditor's report to the members and trustees of Community Foundation for Leeds (continued) Auditorf5 respon5ibilitles for the audit of the financial statements We have been appointed a5 auditors undèr the Companies Act 2006 and report in accordance with regulations made under that Act. Our objective% are to obtain reasonable assurance about whether the group and parent financial statement$ 3$ a whole are free from material misstatement, whethei duÈ to fraud Of error. and io issue an auditor's report that includes our opirkion. Reasonable assurance is a high level of a55urancè, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when It exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregale. they could reasonably be expected to influènee thè èconomic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are in5tance5 of rhon-compliance with laws and regulations. We design procedure5 in linè with our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extenl to which these are capable of detecting irregularities, includin8 fraud are detailed below. Identifying and assessing risks related to irregularities.. We a55essed the sus￿ptibilitY of the group and parent charitable company's financial statement% to material misstatement and how fraud might occur. including through discussionswith the trustees, discussions wiihin our audit tèam planning meÉtin& updating our record of internal conlro15 and ensuring these controls operated as intended. We evaluated p055ible irkcentives and opporlunities for fraudulent manipulation of the financial statement5. We identified laws and regulations that are of signrficance in the context of the group and parent charitable company bv di5CU5510n5 with trustees and updating our understanding of the secror in which the group and parènt charitable company operate. Laws and regulations of direct significance in the context of the group and parent charitable cDmpany ir)clude The CompaniÈs Act 2006 and guidance issued by the Charity CoTThmi5sion for England and Wale5. Audit response to risks identified.. We considered the exient of compliance with these laws 3nd regulaiions as parl of our audit procedures on thè related financial statement item5 including a review of financial statement disclosures. WÈ reviewed the parent charitable company's records of breaches of laws arkd ie8ulatlQn5, mrnutes of meetings and corrÈspondence with relevant authorities to identify polential material misstatements arising. We discussed the parenl charitable comp3nWs policies and procedures for complianie with laws and regulations with members of management responsible foi compliance. During the planning meeting with the audit team. the enga@ement partner drèw attèntion to the key areas which might involve non-compliance with laws and regulatrons or fraud. We enquiied of management whether they were aware of any instances of non-compliance with laws and regulations or knowlÈdge of any actual. suspected or alleged fraud. We addressed the risk of fiaud through maft38ement override of contro15 by testing the appropri3tene5s of jc>urnal entrie5 and identifying any significant transartions that were unusLJal oroutside ihe normal course of business. We assessed whether jud8emenls made in making accounting estim3tÈs gave rise to a p055ible indication of management bias. At the completion stage c>f the audit, the engagement partnerfs review inclLJded ensuring that the team had approached their work with appropriate professional scepticism and ihus the capacity to identify non- compliance with laws an¢J regulations and fraud. Pa8e 17

Leeds Community Community Foundation for Leeds Foundation Independent Auditor's Report to the members and trustees of Community Foundation for Leed5 for the year ended 31 March 2022 Independent auditor's report to the members and trustees of Community Foundation for Leeds (continued> There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. A15Q, the risk ol not detecting a material misstatement due to fraud 15 higher than ihe risk of nol detecting one resulting Irom error, as fraud may involve deliberate concealment by. for example, forgery or intentional misrepresentations. Dr through collusion. A further description of our responsibilities is available on the Financial RepoitinE Council's website at.. www.1rc.org.vklauditorsrespon5ibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the pareni charitable company'5 members, as a body, in accordance with Chapter 3 of Part 16 of the Companie5 Act 2(M)6. Our audit work has been undertaken so that we mighi state to the parent charitable company's membeis those matters we are required to state to ihem in an auditor's report and for no other purpose. To the fullest extent permittèd by law, we do not accept or a55ume resporhsibility to anyone other than th parent charitable company and the parent charilable companrfs membersas a body. for our audit work. for this report. or for the opinions we have fomed. [.W C-kn LLe Sally Appleton Isenior Statutory Auditorl for and on behalf of Saffery Champness LLP Chartered Accountants StatLJtory Auditors Mitre House North Park Road Harrcigate North Yorkshire HG15RX Date.. 25 October 2022 Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 20D6 Page 18

Leeds Community Community Foundation for Leeds Foundation Statement of Ftnancial Activities (Incorporating statutory income & expendlture account) for the year ended 31 March 2022 Total Funds 2022 £'ooo Total Funds 2021 £'ooo Notes Unrestricted Funds £'ooo Restricted Endowment Fund5 Funds £'Tr]o É'ooo Income and endowments from.. Donation5 and legacies Charitable activities Other trading activities Inve5tmentS other 168 458 92 168 3,669 92 646 175 6.116 63 626 3,137 74 642 16421 195 447 Total 917 3,584 74 4.575 6,980 Expenditure on: Raisin£ fLJnds Charitable activities Other 102 651 161 102 4.S86 234 87 6,324 265 4,035 73 io Total 914 4,108 5,022 6,676 Net gains on investments 13 1.438 1,438 3,967 Net incomellexpenditurel Transfers between funds 23-25 15241 92 1.512 1921 991 4,271 23 Net movements in funds 14321 1,420 991 4,271 Reconciliation of fund5', Total funds brought forward 613 4.037 22.767 27.417 23,146 Total funds carried fotward 616 3,605 24,187 28,408 27,417 All amounts relate to continuin8 activitie5 Wlthin the Uniled Kingdom. There are no other recognised gains or losses, other than those stated above. The notes on pages 24-53 fom part of these financial statement5. Page 19

Leeds Community Community Foundation for Leeds Foundation Consolidated Statement of Financial Activities (Incorporating statutory income & expenditure account) for the year ended 31 March 2022 Total Funds 2022 £'ooo Total Funds 2021 £'ooo Notes Unrestrirted Funds £'ooo Restricted Endowment Funds Funds £'oo Income and endowments from.. Donations and legacies Charitable activities Other trading activities Investments 170 458 54 170 3.673 54 646 455 3,141 74 6,116 63 642 16421 626 Other 195 447 Total 881 3,588 74 4,543 7,260 Expenditure on: Raising funds Charitable activities Other 102 651 162 102 4,686 235 87 6,324 266 4.035 73 io Total 915 4.108 5,023 6,677 Net gains on investments 13 1,438 1,438 3,967 Net lexpenditurellincome Transfers between funds 23-25 23 (52Ql 92 1.512 1921 958 4.550 Net movements in funds (341 1428) 1,420 958 4,550 Reconciliation of funds: Total lunds brought forward 892 4,037 22,767 27,696 23,146 Total funds carried forward 858 3.609 24.187 28,654 27,696 All amounts relate to continuing activities within the United Kingdom. There are no other recognised gains or losses, other than those stated above. The notes on pages 24-53 fortn part of these financial statements, PaEe 20

l_eeds Community Foundation Community Foundation for Leeds Balance Sheet as at 31 March 2022 2022 2021 £'ooo Notes £'(KJO £'ooo Fixed assets Tangible fixed assets Investments 12 13 20 24,507 35 22,986 Current assets Debtors Current asset investments Cash atbankand in hand 14 15 224 150 4.324 5,032 4.556 5,191 Current liabilities.. amounts falling due within one year 16 16751 17951 3,881 4,396 Net assets 26 28.408 27,417 Funds Unrestficted lunds Unrestricted funds: Designated Restricted funds Immediate impact funds EndDwment funds 23.25 22 491 125 613 23,26 23.26 3,605 24.187 4.057 22,767 Total funds 23,26 28.408 27N17 Approved by the Board of Trustees on 21 Septetnber 2022 ènd signed on its behalf by- Nicholas Lane Fox Chair of Trustees Michael Jackson Trustee and Treasurer Company registration no.. 4443312 The notes on pages 24 to 53 form part of these financial statement5. Page 21

Leeds Community Foundation Community Foundation for Leeds Consolidated Balance Sheet as at 31 March 2022 2022 £'(K)O 2021 £'ooo Notes £'ooo Fixed assets Tangible fixerl assets Investments 12 13 20 24,507 35 22,986 Current assets Debtors Current asset invegtments Cash at bank and in hand 14 15 187 150 4.612 5,312 4.807 5,471 Current liabilities: amounts falling due within one year 16 1680} 17961 4,127 4,675 Net assets 26 28.654 27.696 Funds Unrestricted funds Unrestricted funds.. Designated Restricted funds Immediate impact funds Endowment funds 23,26 22 733 125 892 23,26 23.26 3.609 24,187 4,037 22,767 Total fund5 23,26 28.654 27,696 Approved by the Board of Trustee5 on 21 September 2022 and signed on it5 behalf by.. Nicholas Lane Fox Chair of Trustees 30, 2022 16.'19GMr+ii Michael Jackson Trustee and Treasurer Company registration no= 4443312 The notes on pages 24 to 53 form part of these financial statement5. Page 22

l_eeds Community Community Foundation for Leeds Foundation Consolidated Statement of Cash Flows and Net Debt Analysis for the year ended 31 March 2022 2022 2021 £'ooo Cash flows from operating activities: Net income for the financial year Adjustments for: Depreciation Receipt ol endowment Gains on investments Dividends, interest and rent5 from investments Increasel/decrease in debtors Decrease/lincreasel in current asset investments (Decreasellincrease in creditors 958 4.550 15 1741 11,4381 16461 1371 14 11081 13,9671 16261 11161 180 Net cash used in operatin8 aclivities 11.3371 44 Cash flows from investing activities: Dividends. interest and rents from investments Proceeds from sale of investments Purchase of investments 642 629 60 15931 1791 Net cash provided by investing activitie5 563 96 Cash flows from financing activities: Receipt of endowment 74 108 Net cash provided by financing activtties 74 108 Change in cash and cash equivalents in the year 1700 248 Cash and cash equivalents at ihe beginning of the year 5,312 5,064 Cash and cash equivalents at the end of the year 4.612 5,312 Net Debt Analysis AIIApr 2021 £'ooD Cash flows At 31 Mar 2022 £'ooo É'ooo Cash 5.312 170D} 4,612 5,312 17001 4,612 Total Page 23

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 Accounting policies Accounting convention The financial statements have been prepared under the historical cost convention and in accordance with Jtatement of recommended Practice 'Accounting and Reporting by Charities, lissuecl in December 20191 and applicable United Kingdom accounting standards including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Community Foundation for Leeds and Bradford District Community Foundation is a public benefit entity in accordance with FRSIO2. The finantial statements are prepared in £ sterling. Consolidation The con501idated accounts COWY7piise the accounts of the charity and the subsidiary, Bradford District Communilv Foundation for the year ended 31 March 2022. These accounls have been consolidated on a line-by-line basis. The Trustees have assessed the conditions for consolidating Bradford District Community Foundation, and have determined that the control conditions for consolidation as set out In the Charities SORP are tnet. As such, the subsidiary has been included in these linancial statements. Going Concern The Board of Tru5tee5 have considered the financial p05ilion of the charity. and based on a review of forecast and available funds have reasonable expectation that the charity has adequate resources to continue in operation31 existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in the preparation of the financial statements and annual report. The major risk for the charity IS seen as the impact on the value of our inve5tment5 and the income generated from those investments. Accordingly, the charity has revised downwards the forecasted return, both in terms of income and total retLJrn, on the Investment portfoli05 held. These revision5 have been incorpor3ted into current vear and future financial forecasts. Income and endowments All incoming resource5 are included in the Statement of Financial Activitie5 when the Foundation is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of sncome.. Donations and le acies - Voluntary income is received by way of grants, don3tion5 and gifts (including donations in kindl. These amounts are included in full in the Statement of Financial Activities in the year in which they are receivable. Income from membership schemes is recognised in line with the time period to which the membership applies. The value of services provided by volunteers has not been included, but is described in ihe Trustee5' report. Page 24

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 Accounting policie5 {continued} Income and endowments (continued) Charitable activities - Income arising from grants and similar contracts specifically for the provision of grants, activities or services which are provided as part of the charitable activities of the Foundation. Grants to cover Leeds Community Foundation administration costs are shown as charitable activities within the unrestricted fund. Grant5 receivable where the income is related to performance and specific deliverables are accounted for as thè FoLJndation earns the right to consideration by it5 performance. Grants where entitlement is not conditional on the dèlivery of a specific performance by the Foundation are recognised when the Foundation becomes unconditionally entitled to the grant. where grants aTe received during the year in respect of future periods, the amount of the grant which relates to future periods is deferred and is included within creditors. Other tradin activities - Consultancy income. service charges and sponsorship income is recognised in full for activities undertaken during the year. Income relating to activities taking place in the followirbg year is deferred. Investments - Inveslment income and interest are brought into account when receivable. Other - Other income 15 the approprialion of endowment income. A proportion of the income eamed fKgm endowment is transferred to the unrestricted fund to cover administration costs. Expenditure All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate costs for allocation lo activities. Where cost5 cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. Raisin funds - are those cost5 incurred in seeking voluntary contributions or consultancy income. They do not include the costs of disseminating information in support of the charitable activities. Support Costs are those costs incurred directly in support of the charitable activity of awarding Erants and project development. Charitable artivities Grants payable are char8ed in the year in which the Efant is paid to ihe recipient, unless it is conditional. Conditional grants are recognised when the conditions attathing are fulfilled. Grant administration costs include the costs of seeking funds to award in grants and the costs of grant-making. Other costs - represent those incurred in connection with governance and compliance with constitutional and statutory requirements. It also includes those administration costs which are charged directly against the funds. Fixed assets Depreciation 15 provided on all tangible fixed assets at rates talculated to write off the cost, le55 estimated residual value. of the assets over their expected useful lives on a straight-line b3sis. as follows.. Office Fixture5 and fittings Office Equipment 20% 25% to 33% (computer equipment) Investments Investments acquired are included at purchase c05t. or if donated to the charity, the market value on the date of gift. Quoted investnients held as fixed assets are stated at mid-market value, with all gains and losses taken directly to the Statement of Financial Activities as they arise. Realised gain5 and losses on investments are Page 25

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 Accounting policies (continued) Investment5 Icontinuedl calculated as the difference between sales proceeds and opening market value lor purchase date if later). Unrealised gains and 105se5 are calculated as the difference beiween the market value at the year-end and opening market value lor purchase date. if laterl. Management fee5 paid to investment managers are reflected in the unit price of the investments. The TTUStees have passed a Tolal Return Resolution for the permanent endowment funds held. Accordingly, the Trustees have agreed to release funds during the ye3r equivalent to the expected return value of the fund less inflation. The amount transferred to grant-making during the year relates to the returns made in the current year and the returns made since the inception of the permanent endowment funds. It is the Trustees. policy to retain sufficient fund5 Wlthin the perm3nent endowment fund to increase Iheir value in line with inflation. Fund accounting Monies earmarked by donors. or by the terms of an appeal for particular projects, are accounted for separately, as a Restricted Fund. The notes to the accounts show the movements and balances on any such restricted fund5. Unrestricted funds may be spent on any legitimate charitable aim. as laid down in the Foundation's Memorandum of Association. Restricted fund5 held by the Foundation can be either immediate impact or endowment funds. Immediale impact fund5 are those where we work with the originator to distribute the Money in grant5 over a short period of time, typically a year. Endowment funds are those where donation5 made are invested with our investment managers and grants are made from the returns generated. Both are funds where the money for grants payable originates from other organisations or individuals, but the originatoi has delegated all or part of the work of researching. recommending and/or choosing suitable beneficiarie5, managing grant applications, conlrolling the grant payments, and project monitorinE/reporting to the Foundation. Finance and operating leases Renta15 applicable to operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred. Assets purchased under finance lease are capitalised as fixed 35sets, Oblig3tioNs under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Finance charges are written off to the Statement of Financial Artivities over the period of the lease so as io produce a constant periodic rate of charge. Page 26

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 Donations and legacies Charity 2022 £'ooo 2021 £'ooo Dollations Membership donations Covid-19 sUPPOrt grant 35 133 35 139 168 175 Group 2022 £.￿0 2021 £'ooo Donations Legacies Membership donations Covid-19 support Erant 35 35 280 139 135 170 455 The donations and legacie5 are all unrestricted. Page 27

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 Income from charitable activities- Charity and Group A proportion of the immediate impact funds are transferred to the unrestricted fund to cover administration costs. The amount to cover admirkistration costs is recognised in the uniestricted fund when the grants are made and the costs incurred. 2022 £'ooo 2021 £'ooo Unrestricted funds Grants to cover administration costs.. Immediate impact funds Deferrecl grants brought forward Grants arising in year Grants deferred to future years 453 381 13761 339 568 14531 Total unrestricted funds 458 454 Restricted funds Statutor Funds Addressing Mental Health Inequalities in Minority Ethnic Groups Addressing Self Harming in Leeds Bradford Children and Young Peoples Youth Fund Employment for People with Learning Disabilities Ideas that Change Lives Lunch Clubs Men'5 Suicide Prevention Fund Stay Well this Winter Other statutory funds Private sector funds Bartlett Fund Clubs in Crisis- Made by Sport Community Partnering Empowèring Places Flint Family Fund Haribo Happiness Fund Keighley Community Health Grant5 The Henrysmith Charity Leeds Civic Trust Lel's Create jubilee Fund Local Care Direct Health and Wellbeing Fund Maniit Wolstenholme Fund The Mohn West13ke Arts Engagement Fund Pears Foundation Power of Communities Sir Ken and Lady Morrison Fund Time to Shine Wesleyan Fund Youth Social Action Fund Other private sector funds 296 63 33 33 46 91 119 105 58 iii 167 119 58 59 113 119 lis 45 66 30 326 199 1601 85 156 633 114 165 300 165 173 100 1241 74 50 1521 34 131 77 Page 28

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 Income from charitable activities- Charity and Group (continued) 2022 £'ooo 2021 £'ooo Themed funds DCMS Resilience Fund Healthy Holidays Leeds Fund No Child Cold Resilience Funds Other themed fLJnds Le55'. Erants deferred to cover future administration costs Iiii 1,358 81 487 1,560 127 43 1,595 io 15681 26 13811 3,137 5,554 Restricted fund5- subsidiary Total restricted funds 3,141 5.554 Endowment funds Communities First Flint Family Fund High Sheriff Fund li 107 Total endowment funds 74 108 Total 3,673 6.116 other trading activities - Charity and Group 2022 2021 £'ooo Consultancy income Events and sponsorship 90 59 92 63 Les5 Intercompany recharges 1381 63 Other trading activities are all unrestricted. Intercompany recharges for finance and administration services of £38,181 payable to Leeds Community Foundation from Bradford District Community Foundation have been eliminated on consolidation. Page 29

l_eeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 Investments- Charity and Group 2022 £'ooo 2021 E'ooo Dividends- equities Bank interest 642 618 646 626 Of the Investment income. £642,000 12021.. £618,000) was atliibutable to restricted income funds and endowment funds, with the balance of £4,OW12021- £8,000) adding to unrestricted funds. Other- Charity and Group In the year, other income is the appropriation of endowment income. A proportion of the income earned from endowment is transferred to the unrestricted fund io cover administration costs. The amount to cover 3clministration costs is recognised in the unrestricted fund when the Erants are made and the costs incurred. Following the passing of the total return resolution for permanently endowed funds, an appropriate valve is released for grant-making from the remaining income and any capital gains made. This is shown in further detail in note 25. 2022 £'o 2021 £'ooo Unrestricted fund5 Grants to cover administration costs: endowment funds Grants arising in year 195 172 195 172 Restricted immedlate impact funds Bradford Brook House City of Leeds Communities First Flint Family Fund Gra55root5 for Leeds Hi8h sheriff Fund limbo's Fund Leeds Tradesmen's Trust Leeds Fund Viscount Mountgarret Fund io io 46 49 353 io io 344 21 io 447 446 Page 30

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements forthe year ended 31 Marth 2022 Other- Charity and Group (continued} 2022 £'ooo 2021 £'ooo Endowment Funds Transferred to immediate impact funds Transferreij to unrestricted fund to cover administration costs 14471 11951 14461 11721 {6421 16181 Total funds Raising funds- Charity and Group 2022 2021 £.￿0 Costs of raising voluntsry income: Salaries and social security costs Support and administration costs-. Rent and utilities Office costs 35 30 42 36 Costs of raising consultancy income: Salaries and Social security costs Support and administration costs-. Rent and utilities Office costs 35 30 23 19 51 Total cost of raising funds 102 87 Costs of raisirbg funds are all vnrestricted. Page 31

l_eeds Community Foundation Community Foundation for leeds Notes to the financial statements for the year ended 31 March 2022 Expenditure on Charilable activities- Charily and Group 2022 £'o 2021 £'ooo Restricted funds Grant-making (note 91 4.035 5,751 Unrestrirted funds Grant administration: Salaries and social security Costs Other staff costs, trainin& travel and subsislence Support and administration c05t5'. Rent and utilities Office costs 505 30 439 15 36 35 84 651 573 4.686 6,324 Page 32

Leeds Community Foundation Community Foundation for Leeds Note5 to the financial statements for the year ended 31 March 2022 Expenditure on Charitable activities: Grant-making- Charity and Group Grants awarded by the Foundation can be analysed into the following categories.. 2022 £'ooo 2021 £'ooo Restricted immediate impart funds Statutor funds Addressing Mental Health Inequalities in Minority Ethnic Groups Addressin8 Self Harming in Leeds Bradford Children and Young Peoples Youth Fund EmploymeTrt for People with Learning Disabilities Ideas that Change Lives Lunch Clubs Men'5 Suicide Prevention Fund Stay Well this Winter Other statutory funds Private sector funds Big Change Fund Clubs in Crisis (Made by Sport) Community Partnering Flint Farnily Fund Go Higher West Yorkshire The Henry Smith Charity High Sheriff Fund Jimbo's Fund Keighley Community Health Grants Leeds Civic Trust Local Care Direct Manjit Wolslenholme FLJnd Mohn Westlake Fund Pears Foundation Power of Communities Sir Ken and Lady Morrison Fund Time to Shine Wesleyan Fund Youth Social Action Fund Other private sector funds Themed funds DCMS Resilience Fund Bradford Fund Healthy Holidays Leeds Fund No Child Cold Resilience Funds Other themed funds 46 S7 23 39 7S 143 41 53 102 40 84 loo 80 54 28 104 102 71 131 95 44 94 226 29 353 120 33 376 175 72 267 105 41 108 156 68 45 40 71 88 84 17 58 93 iio 121 78 Iiii 139 1,185 427 461 1,445 221 85 1,515 io li} Total Eiants awarded 4.035 5,751 Page 33

L.eeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 Expenditure on Charitable activities: Grant-making- Charity and Group Icontinuedl 2022 £'ooo 2021 £'ooo Reconciliation of grants payable= Unpaid grants brought forward Grants awarded in ihe year 15 5.751 4,035 Grants payable for the year Less.. grants paid during the year 4.035 14,0351 5.766 15,7661 Unpaid grants carried forward The purpose of the grants awarded under each of the above-named grants programmes is set out in note 24. A full listing of grants made during the year is included on our website www.leedscf.o All grant$ 3re payable to organisations. excepting some of the grants from the Leeds Tradesmen's Trust. Ann Maguire Arts Education Fund and the Themed Funds. which were given to individu315. 10 Other Charity 2022 É'ooo 2021 £'ooo Unrestrirted funds Governance.. Auditorfs remuneration Salaries and social security costs Other 5UPPOrt and administration cost5 Ji 114 36 io 91 33 161 134 Restricted immediate impact funds Other resource5 expended- Costs on Healthy Holidays Costs on Leeds Fund Costs on Pears Fund Costs on Power to Ch3nge Empowering Places Costs on Resilience Funds Costs on other funds 23 24 ioi li 15 73 131 Total other expenditure 234 265 Page 34

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 10 Other Icontinuedl Group 2022 £'ooo 2021 £'ooo Unrestricted funds Governance (see abovel Unrestricted funds subsidiary Independent exawninerfs remuneration 161 134 162 135 Restricted immediate impart funds Other resource5 expended Isee above) 73 131 73 131 Total other expenditure 235 266 Fees payable to the Company's auditor for the audit of the compantys annual accounts were £11,000 (2021.. £IO,0001 and for the Independent examination of the accounts of its subsidiary were £l,00012021.. £1,000). There were also fees payable for the audit of The BG Campbell Trust Fund of £6,00012021'. £6,(K)01 of whlch LCF Is corporate trustee and for the independent examination of fjFS Community Enterprise of £2,110012021.' £3,0001 of which LCF is sole member. 11 Staff costs and remuneration of key management personnel - Charity and Gioup 2022 £'ooo 2021 £'ooo Salaries Social security costs Pension tOSts 618 55 18 527 46 15 691 588 The average number of employees during the year was 20 FTE12021: 17 FTEI. l employee12021.. 11 had total employee benefits (excluding employer pension costs and national insurance costs) in the band of £60,001-£70,000. The charity considers its key management personnel comprise the Trustees, the Chief Executive and the Senior Leadership Teèm (Finance Director,. Grant5 and Programmes Director- Development Director). The total employment benefits, including employer pension contributions of the key management personnel, were £227,00012021.. E169,0001. During this year and the prior ye3r, no Trustees received remuneration ènd none were reimbursed for travel and other expenses. Page 35

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 11 Staff costs and remuneration of key management personnel - Charity and Group Itontinuedl During the year plans were formalised which define the operalional relationship between Community FoLJndation for Leeds and Bradford Districl Community Found3tion'. wilh a Service Level Agreement and Secondment Agreements for key staff being approved by trustees. 12 Flxed Assets: Tangible - Charity and Group Office Equipment Office Fixture5 and Fittings £'ooo Total £'ooo Cost Opening balance l April 2021 Additions 21 76 97 Closing balance 31 March 2022 21 76 97 Actumulated depreciation Opening balance l April 2021 Charge for the year 21 41 15 62 15 Closing balance at 31 March 2022 21 56 77 Net book value At 31 March 2022 20 20 At 31 March 2021 35 35 All the assets above relate to functional assets used in the fulfilment of charitable objectives. Page 36

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 13 Fixed assets: Investments- Charity and Group 2022 £'ooo 2021 £'ooo Carrying value of investments brought forward Additions to investment5 at cost Investment income Gain on investment valuation Investment income transferred to cash Realised gain on investments transferred to cash 22,986 79 642 1.438 16381 18,489 593 618 3,967 16211 1601 Carrying value al 31 Marth 24.5Q7 22,986 Analysis of investments 2022 2021 £'ooo UK equities Overseas equities Private equity Fixed interest Propertv Infrastructure Alternative Cash 4,389 13.OD7 418 1.487 992 1,480 1,180 1,554 3,568 13,767 377 1,293 613 1,519 645 1,204 24,507 22,986 Investments at the balance sheet date were held in bespoke portfolios Wlth Abrdn and Rathbone5. CCLA investments are held in the COIF Charities Ethical Fund and 53rasin & Partners in the Sarasin Endowments Fund. Page 37

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 14 Debtors - Charity and Group Charity 2022 Group 2022 £'ooo 2021 £'ooo 2021 É'ooo Debtor5 Intercompany debior Prepayments and accrued income 50 38 136 15 50 15 135 137 135 224 150 187 150 15 Current Asset Investment5 - Charity and Group 2022 £'ooo 2021 £'ooo Current Asset Investments 16 Creditors.. amounis falling due within one year Charity 2022 £'ooo Group 2022 2021 £'(K)o 2021 £'ooo Deferred grants to cover administration costs Accruals and deferred income on consultancy and other programmes TaKation and social security Sundry creditors 376 453 380 453 240 216 241 217 17 42 14 112 17 42 14 112 675 795 796 Page 38

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 17 Commitments under operating leases- Charity and Group As at the 31 March 2022, the Foundation had total minimum commitments under operating lease5 as set out below.. 2022 £'ooo 2021 £'ooo Land and buildings Within l year Between 2 and 5 years 35 14 35 49 49 84 18 Taxation The charitable company is exempt from corporation t3x on its chèrit3ble activities by virtue of Part 11 of the Corporation Taxes Act 2010. The charitable company is not VAT registered and theiefore does not recover anv attributable value added tax. 19 Capital Community Foundation for Leeds is a charitable company, limited by guarantee and has no share capital. The members have agreed to contribute £10 each to the Charitvs assets in the event tsf it winding up, if its assets should prove insufficient to cover its liabilities, or within one year after he or she ceases to be a member, and of the costs, charge5 and expenses of winding up, and for the adjustment of the rights of the contributories among themselves. 20 Related party transactions During this year and the prior year, no Trustees received remuneration and none were reimbursed for travel and other expenses. During the year 4 12021.. 31 Trustees made unconditional donations totalling £3,667 12021.. £3,000), In the year I grant totalling £2.49612021= 3 grants totalling £33,482) was made to Feel Good Factor where Corrina Lawrence is the CEO. In the year grant underspend from the Time to Shine programffle wa5 returned to Leeds Older People5 Forum where Corrina Lawrence is a Trustee totalling £124,373112021.. £73,712) and fund intome of £30,000 was received from Leeds Older Peoples Forum for the Time to Shine.. LGBT+ micro grants prog¥amme12021.' nill. Leeds Older People's forum also received 2 grant5 totalling £14,00012021: nil) from the Power of Communities and Self- Harm Pievention Fund. In the year 4 grants totalling £37.81412021- 4 grants totalling £27,156) were made to Keighley Healthy Living where Sharon Orr is a Trustee. Finally 4 grants totalling £63,08312021.. 8 grants tolalling £56,511) were awarded to the Youth Association where Emily Jones is employed. The Founé3tion 3150 contracted the Youth A5SOClation for consultancy work to the value of £4,000 12021.. nill. Page 39

l_eeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 20 Related party transactions {continuedl Community Foundation for Leeds is sole Corporate Trustee of The BG Campbell Trust Fund (registered charity number 2553691. The net 355ets of The BG Campbell Trust Fund are £21.934.000. The financial Statements and activities of The BG Campbell Trust Fund have not been consolidated within these financial statements due to the differing objects of the two charities. The accounts of The BG Campbell Trust Fund are available by request from Community Foundation for Leeds, 513 St Paul's Street, Leeds. LSI 2TE. During the year, an amount of £14,00012021.. £16.0001 was payable to Leeds Community Foundation for the administration of the Trust. As at 31 March 2022. an amount of £8,OCK)12021- £9.0001 was owed by the Trust to Leeds Community Foundation. During the year an amount of £144.00012021: £147,000) ivas transferred from The BG Campbell Trust Fund for contributions to the Bradford Children and Young People'5 Youth Fund and Power to Change.. Keighley Community Health Grants. Community Foundation for Leeds is the sole member of GFS Community Enterprise Iregistererl company number 10042412, registered charity number 11694621. The net assets of GFS Community Enterprise are £2,502,000. The accounts of GFS Community Enterprise are available by request from Community Foundation for Leeds, 51a St Paul's Street, Leeds, LSI 2TE. During the year. grants of £55,00012021: £25.0001 were paid by Leeds Community Foundation to GFS Community Enterprise- £24,000 for Healthy Holidèy activity, £30.000 from the Resilience fund and £1,000 Irom the Wesleyan fund. Duriftg the year an amount of £13,33312021.' £8,5531 was payable to Lced5 Community Foundation for finance and administration services. of which £3.62012021= £2,772) was owed by GFS Community Enterprise to Leeds Community Foundation as at 31 March 2022. Community Foundation for Leeds is the sole member of Bradford Distrirt Community Foundation Ire8lStered company number 6852262, registered tharity number 11315881- The net assets of Bradford District Community Foundation are £246,000. The accounts of Bradford District Community Foundation are available by request from Community Foundation for Leeds, 51a St Paul's Street, Leeds, LSI 2TE. During the year, an amount of £38,000 12021- Enill was payable to Leeds Community Foundation for the administration of the Trust. As at 31 March 2022, an amount of £38,00012021.. £nill was owed by the Trust to Leeds Community Foundation. 21 Pensions The Foundation contributes to a number of defined contribution pension schemes on behalf of staff members and has also registered as an employer with the NEST woikplace pension scheme. The assets of the schemes are held separately to those of the Foundation in indeper)dently administered funds. The pension charge in the vear represents contributions to the funds and amounted to £18,OCO {2021- £15,000>. There were no outstanding contributions at 31 March 202212021= £nill. 22 Designated Funds In the year, £125k was transferred from unrestricted general funds into an unrestricted designated fund to cover IT project costs for the UKCF Salesfoice transformation initiative which will span 2022123 and 2023124- and for an in-depth review of our Salesforce processes to ensure that we are best placed when moving forwaid with the UKCF initiative. The desiEnateil fund will cover consultant and Salary costs, system development costs and shared project Costs. Page 40

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 23 Movement in fund5 Charity Incoming resour(es £'o¢x) Transfers in 01-Apr-21 Outgoing Iloutl Gain5 31-Mar-22 E'ooo £'ooo Unrestricted Funds-general Unrestii¢ted Funds-designated 613 917 19141 11251 125 491 125 Total unrestri<ted funds 613 917 {9141 616 Restricted fund5- lrnmediate impa¢t.. Siatutory funds Addressing Ment31 Flealth Inequalities In Minority Eihni¢ Groups Addres5ine Self H3rmin8 In Leeds Bradford Youth Fund Employmeni for P￿pIe with Learning 154 55 123 1461 1571 1231 113 33 133 39 1391 Grassroot5 Ideas That Change Lives Lunch Club5 Men's Suicide Prevention Fund Stay Well this Winter Other statutory funds Tolal statutory fund5 Private Sector funds Ann Maguire Arts Education Fund 8radford endowment distribution Brook House endowment distribution Bartlett Fund Clubs in Crisis Imade by Sport) Empowering Place5 Community Parinering Flint Family Fund High Sheriff Keighley Community Health Grants Jimb05's Fund City ol leeds Let's Create Jubilee F¢Jnd Local Care Direct Leeds Civic Trust Leeds Tradesmen's Trust Manjit Wolstenholme Fund Mohn Westlake Fund Pears Foundation Power of Communit',e5 Sir Ken and Lady Morrison Fund rime to Shine We51eyaD Fund Youih Social Action Fund Other private seitor funds Total prNate seclorfunds 552 30 52 36 46 85 98 97 53 11471 451 40 1751 11431 1411 1531 121 90 15 1.017 li 456 14811 11471 845 268 48 40 267 37 49 50 1161 50 104 11041 45 loo 34 11021 49 12 J09 135 157 25 296 353 io 145 1331 11751 13761 230 112 180 145 271 13 538 12671 1721 1171 11051 1431 11151 11561 73 io 98 143 270 55 48 211 311 161 56 18 212 85 1241 69 65 39 91 2.224 1451 191 56 38 77 131 1671 11.8351 1.805 2,196 Page 41

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 23 Movement in funds {continueiJ) Charity Incoming resources Tronsfer5 in Gain5J ILos5e51 £'oDo 01-Apr-21 0￿gOing lloutl £'ooo 31-Mar-22 £'ooo Themed funds The Bradford Fund Resilience Funds Healthy Holidays Leeds Fun Other rhcmed funds Total themed funds 11431 136 112 122 553 1.233 78 12 1.323 11,2081 14511 io 11.7921 146 395 23 $64 215 796 237 Subtotal- immediate Impaci 4,037 3.584 14.1081 92 3,605 Restricted funds- EndowmÈnt Permanent Bradlord District Community Fund Brook House Communities First Leèds City of Leeds Grassroot5 Endowment for Leeds Expendable Flint Family Fund HiEh Sheriff Jimbo's Fund Leeds Tradesmen's Trust Leeds Furtd Viscount MouThtg3rrett 264 237 74 551 25 282 253 82 588 2,882 50 249 2.7(N) 1671 525 105 16,301 1.273 606 60 li 37 622 124 17,183 1,370 658 143 882 97 52 12 131 Subtotal- endowment 22,767 74 1921 1,438 24,187 Total restricted funds Z6,804 3.658 14.1081 1,438 27.792 Total funds 27.417 4.575 15.0221 1,438 28.408 Page 42

Leeds Community Foundation Cornmunity Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 23 Movement in funds Icontinued) Group In¢ominE re50urce5 TT3nsfers Sn /loutl E'OOD Gainsl (Losses) 01-Apr-21 Outgoing 31-Mar-22 £'ooo Unrestricted funds- general Unrestricted funds- designated 892 881 19151 733 125 125 Total unrestricted funds 892 19151 858 Restricted fund5- lrnmEdiate impact RestrictÈd funds- Endowment fund5 4,037 22.767 3.588 74 14.1081 92 1921 3,609 24,187 1,438 Total restricted funds 26￿04 3.662 14,1081 1,438 27,796 Total funds 27.696 4.543 15,0231 1,438 28,654 Prior Year Charity IncomlnE resources Tiansfers in Iloutl £'ODO Gainsl ILosses1 £'ooo 01-Apr-20 OurgoinE £'ooo 31-Mar-21 £'ooo Total unrestrlcted funds 535 872 17941 613 Restricied funds- Immediate tmpact Restricted funds- Éndowment funds 3.695 18,916 6,(K)O 108 15,8821 224 12241 4.037 22,767 3,967 Total restricted funds 22,611 6.108 15,8821 3,967 26.804 Total funds 23,146 6.980 16,6761 3,967 27,417 Prior Year Group Intoming resources Transfers tn Iloutl £'ooo Gainsl ILossesl £.￿0 01-Apr-20 Outgaing 31-Mar-21 £'ooo E'o Total unre51rlrted funds 535 1,152 17951 892 Restricted funds- Immediate impact Restricted funds- Endowment funds 3.695 18.916 IS.8821 224 12241 4,037 22,767 108 3,967 Toial restiicted funds 22,611 6.108 15,8821 3,967 26,804 Total fund5 23.146 7.260 16,6771 3.967 27,696 Page 43

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 23 Movement in funds (continued) Incoming resourtes: grant income is stated net of grants paid to Leeds Community Foundation to cover administration costs. It also includes interest receivable and investment Income. Investment income on endowments has been included in incoming resources of the corresponding immediate impact fund, from v4heie it will be used to distribute grants. Outgoing resources: represents grar)ts made and costs within funds. Transfers: inclLJdes amounts moved between funds to enable more than one donor to contribute to a grant where larger amounts of funding are required- and amounts released from endowment Iu5ing the total return method) to reslricted immediate impact funds. In the year £125k was transferred from unrestricted general funds into an unrestricted designated fund to cover IT project costs for the UKCF Salesforce transforrllation initiative - which will span 2022123 and 2023124 - and for an in-depth review of our Salesforce processe5 to ensure that we are best placed when moving forward with the UXCF initiative. The desi8nated fund will cover consultant and salary costs, system development costs and shared project costs. Gainslllosses): represents investment gains and losses in the period. 24 Restricted funds - Immediate impact Addressing Mental Health Inequalities in Minority Ethnic Groups= This programme. with funding from Leeds City Council and N HS Leeds Clinical Commissioning Group, funds local third sector Social enterprises, community groups and charities that are supporting local people from minority ethnic groups Wlth their mental health. Addressing Self Harming in Leeds= Funding is provided by Leeds City Council to fund effective work around self- harm prevention and reducing stigma. Bradford Children and Young Peoples Youth Fund IBradford Youth Fund).. Fund5 a wide range of youth work projects in Bradford with a focus on services supporting young people in greatest need. Employment for People with Learning Disabilities- In partnership wilh the Leeds Learning Disability Employment Task Force, this programme supports practical interventions that increase the number of people in Leeds with learning disabilities moving into meaningful. paid employment. Grassroots Grants.. Part of a nationwide drive by the Government to support local. grassroots community groups. The monies are invested in an endowment fund and income from the fund Is then distributed in grants. Idea5 that Change Lives.. Funding is provided by Leeds City Council to er)courage development of social enterprises supporting adults with additional care needs. Lunch Clubs.. In partnership with Leeds City Council, this fund offers grants to support the vital work of Ivnch clubs across the city. These grants are specifically for the running costs of lunch clubs and can support new clubs a5 well as helping existing ones to continue delivering services. Men's Suicide Prevention Fund.. This programme seeks to support social 3Ctivities for men determined by local men themselves, and to provide outreach work with targeted communilies in order to reduce social i501ation. P38e 44

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 24 Restricted funds- Immediate impact funds (continued) Stay Well this Winter.. The aim of the fun(1 is to support a range of community-based projects that help and support people vulnerable to cold weather in Leeds. The fund was established with funding from Public Health, Leeds City Council but also received public donations raised through a Yorkshire Evening Post-b3ckeLf campaign. Ann MagLJire Arts Education Fund.. This fund has been created through donations made in memory of Ann Maguire, 8 well-loved and respected school teacher from Leeds who sadly died in April 2014. The focus of the Fund is on arts education for individua15 in Leeds, with particular reference to performing arts, including drama (literature and poetryl, singing, instrumental music and dance. Bartlett Fund.. In partnership wilh the Bartlett Foundation. this programme is for registered and incorporated charities in Bradford and Leeds who deliver holistic support programmes, addressing challenges faced by familie5 in vulnerable circumstances. It is a strategic fund designed to support long-term work with familie5 alongside daily delivery. Bradford District Community Fund endowment distribution: The income from the Bradford District Community endowment fund is distributed in 8rants to community projects in Bfadford. Brook House endowment distribution= The iniome from the Brook House Endowment fund is distributed in grants to enable people experiencing ill-health and their carers to go on holidayslshort breaks Clubs in Crisis Fund.. Programme funded by Made By Sport. Made By Sport is a national ch3rlty aiming to raise awareness and funds to award grants to clubslcharities focused on grassroots sport for development, with a particular focus on clubs in crisis. specifically with the intention to save orEanisations from closure and to get them back on their feet following the Covid-19 pandemic. Community Partnering.. This programme seeks to support community8lOUPS to deliver schemes that tackle issues that are close to the hearts of our partners as utility companies INorthern Gas Networks and Northern Powergridl such as affordable warmth or the lack of young people choosing STEM subjects. Empoweiing places- Funded by Power to Change and Pears Foundation. The grant covers the costs of taking part in the district-wide Inward Investment initiative Im3tch-funded by ihe council and CCGI aimed at maximising the amount of funding Ihat come5 in to the voluntary sector in Bradford by infrastructure and larger VCS organisation5 working together to create joint propositions and add capacity lo include smaller local groups. Flint Family Fund.. This fund will support disadvantaged children and young people in Leeds through.. supporting a good education for all and helping to remove any barriers to learning,. creating opportunities to engage children and young people in sport to encourage lifelong passions. interests and personal development- and raising aspirations ar)d givinB SUPPOrt to future careers and dreams. High Sheriff.. The Fund wants to encourage young people aged 5-25 years to work togetherto prevent and comb3t crime to create safer communities. Jimbo's Fund.. the fund was Set up in January 2tH)8 with a donation from Hesco Bastion Limited.. it is a donor directed fund which aims to support good causes, predominantly in Leeds and Yorkshire. Page 45

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 24 Restricted funds- Immediate impact funds (continued) Keighley Community Health Grants.. Funded by Power to Change. Aiming to improve health outcomei for people in Keighley by supporting community groups and community businesse5 to engage with social prescribing. Leed5 Civic Trust.. In partnership with Leeds Civic Trust, this programme supports Er3ssrootS activity th3t celebrates and promotes the best of Leeds and It's Communities. SUPPOrting groups to explore, share and celebrate the diverse histories. heritage and stories of Leeds. City of Leeds Fund.. The income from the City of Leeds endowment fund is distributed in grants to projects in the citv. Leeds Tradesmen's Tru5t= The income from the City of Leeds endowment fund is distributed in grants to support tradespeople in Leeds who are in condition of need. hardship or distress. Let's Create jubilee Fund.. will support voluntary and community groups to develop creative and cultural activities as part of the Queen's Platinum Jubilee celebrations in June 2022. The fund has been created by Arts Council England IACEI with funds from the National Lottery. Local Cafe Direct.. This grant programme aims to improve the health and wellbeing of residents across Bradford, Leeds and Wakefield with a partiCLJlar focus on reducing health inequalities. Manjit Wo15tenholme Fund.. Support for community groups in the Br3dFord District who are looking to develop and deliver their activity to support young people in deprived areas to achieve their fLrll potential through educational and aspirational opportunities, no matter what their background. The Mohn Westlake Foundation Fund.. Support for projects engaging young people in art and the art5 who are, or perceive that they are, excluded or disengaged from opportunities to do so. Pears Foundation Fund.. This fund encourages projects that actively involve young people in their design and delivery and that focus on voice, engagement and influence. Power of Communities.. This fund aims to support programmes relating to lackling loneliness, carer support in helping people to remain independent, reducirig health Inequalities and improving overall system performance. Sir Ken and L3dy Morrison Fund- Supporting les5 advanlaged people across Bradford District to improve their literacy. Time to Shine Programme.. established with Leeds Older People's Forum ILOPFI to help third-sector groups develop ways of reducing loneline55 and isolation and strengthen communities benefiting oldèr people Id@fined as over 50 year5 of age). Each of the twelve rounds. over Six years, will have a different theme. Wesleyan Fund: This programme seeks to fund established organisations that focus on health, social and education. Page 46

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the Year ended 31 March 2022 24 Restricted funds- Immediate impact funds Icontinuedl Youth Social Action Fund.. Big Lottery Fund and Department of Culture, Media & Sport invested £20m seed funding over four years to create the #iwill fund. Leeds Community Foundation are acted as match funders and awarded grants on behalf of the #iwill fund in Leeds, Wakefield and Bradford. The Bradford Fund.. This is the central offer in GiveBradford's strategy to maximise funding and outcomes for the voluntary and community sector across the district. The Fund is designed to cover the core costs of communitv organisations 3nd encourage strategic development work alongside daily delivery,- aiming to give the sector the best change to deliver effectively and survive in the years ahead. Resilience Funds.. Funds set up in response the Covid-19 pandemic to distribute National Emergency Trust donatior)s to support the resilience ot organisations in Leeds, Bradford and Wakefield. Contributions to the funds were also received from private donors and businesses in the re810n. Healthy Holidays Fund - Leeds.. With funding from the Department of Education, Leeds City Council, and private donations the programme funds projects that addiess holiday hunger, through promoting healthv holiday activities and providing food. The Leeds Fund.. launched in 2016 as a new initiative for Leeds. thi5 fund accepts contributions from individuals and companies wanting to support the city in which they live and/or work. Every year, the fund will provide13rger grants to support a strategic priority chosen by LCF in response to need and impact. Restricted funds- Endowment funds Bradford District Endowment Fund.- Through a Scheme supported by the Charity Commission, the Leeds Community Foundation was able to accept the transfer of a numbcr of redundant trusts from Bradford City Council. These included some registered charities and charitable bequests managed by the Council that have now been transferred 10 3 community fund which will be distributed in grants in the Bradford area. Brook House.. This endowment fund has been established with the proceeds from the sale of Brook House, a property owned by Leeds City Council. Working with Metcalfe Smith charity to distribute this to enable people experiencing ill-health and their carers to go on holidayslshort b￿ak$. Communities First for Leeds.. This was 3 match programme in which Government provide match funding of £1 for every £2 donated to 3 Communities First Endowment Fund. The income from the endowment 15 now being used to fund community grants in line with the original programme. City of Leeds Fund.. This fund was established as a result of the transfer of a number of redvndant trusts from Leed5 City Council. These included some registered charitiès and charitable bequests managed by the Council that have now been transferred to a City of Leeds Fund, which will be dhstributed in grants in ihe Leeds area. Grassroots Grants.. As part of the Grassroots 8rants programme. the Government made up to £750,000 3vailable over 3 years to claim in malch funding, on a £1 for £1 basis, from individual and corporate donations to endowment funds. The income from the endowment is now being used to fund community grassroots grants in line with the original programme. Page 47

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 24 Restricted funds- Endowment lunds (continued Flint F3mily Endowment Fund: Income from the fund goes towards Ihe immediate impact fund which supports disadvantaged children and young people in Leeds High Sheriff Endowment Fund-. Income from the fund goes towards the immediate impact fund which encourages young people to work together to prevent and combat crime to create safer communities. limbo's Fund.. This fund was established following the tragic death of Jimi Heselden in September 2010. Income from the fund is useé to provide a sustainable funding Source to charitie5 and community groups in Leeds. The fund is an expendable endowment and, as such, the Trustee5 have the power to spend the capital. Leeds Tradesmen's Trust.. This fund was set up in March 2013 following the transfer of the assets from Leeds Tradesmen'5 Trust. The fund supports tradespeople in Leeds who are in condition of need, hardship or distress. Leeds Fund Endowment.. Income from the fund goes towards the immediate impact fund which supports grantmaking to community organisations in Leeds Viscount Mountgarret Fund.. This fund was set up following the transfer of the assets from the Viscount Mountgarret House of Rest Trust. The fund supports communities or individua15 in hardship in Bradford. Page 48

l_eeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 25 Endowmènt funds- Charity and Group In November 2014, Ihe Trustee5 passed a total return resolution for the permanent endowment funds held (except for Communities First Fund, where it was already managed on a total return basis). Accordingly, the Trustees have agreed to release funds during the year equivalent to the expected return value of the fund less inflation. The amoLJnt transferred to grant-making funds during the year relates to the returns made in the current year. No release for granl-making has been made for the Communities First Fund, as the value was considered too Small. It is the Trustees, policy to retain sufficient fund5 Wlthin the permanent endowment fund to increase their value in line with inflation. Unapplied Total return Endowment Total Endowment £'ooo £'ooo At beginning of reporting period.. Gift component of the permanent endowment Inflation proteclion Unapplied total return 2,490 2,490 775 485 775 485 Total 2,490 1.260 3,750 Movement5 in the reporting period.. Gift of endowment funds lThvestment return.. dividends and interest Income allocated to grant-making Ir)vestment return.. realised and unrealised Bains 128 11281 345 128 11281 345 Total 345 345 Unapplied total return allocated to income in the reporting period 1921 1921 Net movements in reporting period 253 253 At end of reporting perlod: Gift component of the permanent endowment Inflation protection Unapplied total return 2,490 2,490 951 562 951 562 Total 2,490 1,513 4,003 Page 49

l_eeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 26 Analysis of net assets between funds Current Year Charity Cash at Other bank artd net current in hand a5sets/lliabilitiesl £'ooo £'ooo Fixed Assets Total 2022 £'ooo Restricted funds- immediate impact Restricted f unds- endowment Unrestricted funcls Unrestricted fund5- designated 320 24.187 20 3. 188 97 3.605 24,187 491 125 i.oii 125 15401 24,527 4,324 1443) 28.408 Current Year Group Fixed Assets Cash at Other bankand net current in hand asset511liabilitiesl £,￿0 £'ooo Total 2022 £'ooo Restricted funds- immediate impact Restricted funds- endowment Unrestricted funds Unrestricted funds- designated 320 24.187 20 3,192 97 3,6 24,187 733 125 1,295 125 15821 24.527 4.612 14851 28,654 Prior Year Charity Fixed Assets Cash at Other bank and net current in hand assets/lliabilitiesl E'ooo Total 2021 £'ooo £'ooo Restricted funds- immediate impact Restricted funds- endowment U nrestricted funds 224 22,762 35 3,716 97 4,037 22.767 613 1,311 17331 23,021 5,032 16361 27.417 Page SO

Leeds Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 26 Analysis of net assets between funds {continued) Prior Year Group Fixed Assets Cash at Other bank and net current in hand assets/(liabilitiesl £'ooo Total 2021 £'ooo Restricted funds- immediate impact Restricted funds- endowment Unrestricted fund5 224 22.762 35 3,716 97 4,037 22.767 892 1,591 17341 23,021 5.312 16371 27,696 27 Judgements and estimates polic¥ The annual depreciation charge for tangible assets is sensltive to changes in the estimated useful economic lives and residual values of the assets. The useful economic live5 and residual values are re-assessed annually. They are amended when necessary to reflect current estimates based on the physical condition of the assets. See Note 12 for the carrying amount of the fixtures and fittings and equipment and Note I for the useful economic lives for each class of asset. Page 51

l_eeds Community Foundation Cornmunity Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 28 Comparative Statement of Financial Activities (incorporating statutory income & expenditure account} for the year ended 31 March 2022 Total Fund5 2021 £'ooo Total Funds 2020 £'ooo Notes Unrestricted Restricted Endowment Funds Funds Funds £'ooo £'ooo £'ooo Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other 175 454 63 175 6,116 63 626 199 4,910 82 658 5,554 108 618 16181 172 446 Total 872 108 6.980 5,849 Expenditure on: Raising funds Charitable activities Other 87 573 134 87 6,324 265 148 4,183 240 5,7SI 131 io Total 794 5,882 6,676 4,571 Net gainslllossesl on investments 3,967 3,967 17711 Net income Transfers between funds 22-24 22 78 118 4,075 {2241 4,271 507 224 Net movements in furkds 78 342 3,851 4,271 507 Reconcillatlon of funds: TotBI funds brought fotward 535 3,695 18,916 23.146 22,639 Total funds carried forward 613 4,037 22,767 27,417 23,146 Page 52

Community Foundation Community Foundation for Leeds Notes to the financial statements for the year ended 31 March 2022 28 Comparative consolidated Statement of Financial Artivities lincorporaling statutory income & expenditure account) for the year ended 31 March 2022 Total Funds 2021 £'ooo Total Funds 2020 £'ooo Notes Unrestricted Restricted Endowment Fund5 Fund5 Funds £'Tr)o £'ooo Income and endowments fiom.. Donations and legacies Charitable activities Other trading activities Investments 455 454 63 455 6,116 63 626 199 4,910 82 5,554 108 618 16181 658 Other 172 446 Total 1.152 108 7.260 5,849 Expenditure on: Raising fund5 Charitable activities Other 87 573 135 87 6,324 266 148 4,183 240 5,751 131 io Total 795 5.882 6,677 4.571 Net gains/llossesl on investments 3,967 3,967 17711 Net income Transfers between funds 22-24 22 357 118 224 4,07S (224) 4,550 507 Net movements in funds 357 342 3,851 4,550 507 Reconciliatlon of funds.. Total funds brought forward 535 3.695 18.916 23,146 22,639 Total funds carried fonmard 892 4,037 22,767 27.696 23,146 Page 53