The Liz and Terry Bramall Foundation Trustees, Report and Financial Statements Year ended 5 April 2023 Charity number.. 1121670 The Liz and Te￿ Brartull Fouttdaiion Trustees. Report and FinBncial 5tat£ments Year ended 5 AFil 2021 Contents Trustees. report for the year endrd 5 April 2023 Statement of trustees. responsibilities in respe¢t of the Trustees. Report and the Financial Statements Independent auditor's repon lo the irustees of The Liz and Terry Bramall Foundation Statement of fitsancial activities (in¢luding income artd expcnditurc account) Balanc¢ she 9-12 13- 14 15 Cash flow stateThcnt 16 Notes 17-28 The Liz and Tery Bramall Foundation Tn￿tees. Report and Financial Sraiements Ye3rended 5 April 2023 Trustees, report Reference and Administratlve InformAtioll Tru5tee5 Dr Terence George Brarnall CBE Mr5 Elizabeth Bramall Mr5 Suzannah Clare Allard Mrs Rebecca Helen Bletcher Mrs Ra¢hel Shirley Tunni¢liff¢ Mr Anthony Richard Shajv FoundatlOD registered number Registered address 1121670 Eton House 89 Station Parade Harrogatc HGI IHF Independent auditor Armstrong Wat50n Audit Limit¢d York House Thomfield Business Park Northallerton DL6 2XQ Handelsbanken l Greengale Cardale Park Harrogate HG3 IGY Bankers Sollcltors Raworths LLP Etort House 89 Station Parade Harrogaie HGI IHF Inve5tmeDt admini5tr4tors Credit Sui5se IUKI Ltd 5 Cabot Square London. E14 4QR LGT Wealth Management 280 Bi5hop5gate London. EC2M 4AG Sarasin & Partner5 LLP Juxon House 100 St Paul's Churchyard London, EC4M 8BU Cazenove Capital Manag¢ment l London Wall Place Londor5. EC2Y SAU The Ltz and Tery Bramall Foundation Trustees. Report and FinBttttal Sth*menis Year ended 5 Aprtl 2023 Trustees, report (conlinued) The trustees present their report along with the audited fJnan¢ial statements of The Liz and TeTry BTamall Foundaticn I'the foundation'l for the year ended 5 April 2023. The trustees confirni that the trustees. report and financial statements of the foundation comply with the current statutory requirements. Th¢ financial staternents have been prepared in accordance with the Statement of Recommended Practice.. A¢counling and Reporting by Charities preparing their accounts in accordance with the Financial Reporting St3ndard applicable in the UK and Republi¢ of Ireland IFRS 1021 issued on 16 July 2014 and the Charitie5 Act 2011 and UK Generally Aecepted Practice ￿ it applies from l January 2022. The atcounts (financial stateTnents} have been prqjared to give2'true and fair. view and have dcparted from the Charities (Accounts and Reponsl Regulations 2008 only lo the extent required lo provide a'true and fair vTew' This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Finartcial Reporting SiandaTd applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Ch2riti¢s'. Statement of Recommended Pracliceefftttiv¢ from l April 2005 which hassÉncc been withdrawTr. Structur4 governance and management c0tt$tit￿t&O The foundation was established by a decd datcd 6 July 2007 by Dr Terence George Bramall CBE and Elizabeth Btamall. The ITUSt was regiS￿red on 23 Novetnber 2007. Following a deed of name change dated 17 March 2011 the trust changed its name to The Liz and Terry Bramall Foundation. The ITUSt¢¢s of the foundation are listed below." Dr Terenee George Bramall CBE Mrs Elizabeth Brdmall Mr5 Suzannah Clare Allard Mrs Rebecca Helen Bletcher Mrs Rachel Shirley Turtnicliffe Mr Anthony lkn"chaTd Sh2rp b. Method of appointsnent or ¢le¢tlon of trustees The power of recruiting and appointing trustees 15 Set out in Clause 7 of the settlement deed and vesis with the tnjstees. Polities Adopted for the induttion The trustees are undertaking appropriate training and advice in relatÉon to being a charitabl¢ trust¢e. d. OrggnI$Atlon $tru¢tllr¢ d¢el$lon mAkiDg The ITUStees meet at least 4 t)[n￿ a year to agree the broad Stra￿gY and arw of activity for the t￿St, including grant making. investmenL and Tisk management. The trustee5 are empowerd by the trust deed to apply the incotne of the foundation for arty charitable purpost they think rit subject to theobj¢ct5 Set out in Clause 3 of the settlement and deed of variation dated 27 January 2009 and 30 December 2009. Investment POWCTS are governed by the trust dccd which permits the funds 10 be inveS￿d in any lawful manner {but to invest only after obtaining advice from a financial expert) and having TegaTd to thr suilabtlity of investment and necd for diversifjcation. The trustees previollsly used six investment advisors lo manage a diversified portfolio of S￿1t3b1¢ investments on a discretionary basis. Thi5 was reduced to four as the trustees con5id¢red the perfomiance of iwo of the invcslment advisors to be below cxpeclations. The brief to the advi50F'S 5tat¢s that they shollld select a balanced inv¢sttn¢nt return from illcorne and capitsl. with low to modeTat¢ risk. The tTUStees mortitor and review their investment policy on an anrtual basi& The Liz Brtd Tery Br3mall Foundation Trustees, Reportand Financial Statements Ye¥ended 5 April 2023 Trustees, report (conliniied) Structur4 governance •nd management (conÉirtued) Risk management The trustee5 have revtewed the effectiveness of internal controls and are happy with the ¢ontrols in place given the $imple nature of the charity. There is currently no need for an intemal audit fvnction given the straightforward nature of the foundation. f. Key management persottnel remuneratlon No trllsi¢es, or person with a family or business connection wilh a truste¢. reeeived remuneration in the year. directly or indirectly, from the foundaiiott12022.. £nill. Prilltipal risk5 and uncertainties Flnanci#l rl$k tyanage￿ellt obje¢tiv¢$ #nd ￿11¢1¢$ The key risks ideRtified are that rnarkel condition5 would Tnak¢ it ditTiculi to spend money on the charitabl¢ objects and that the value of ihe tnv¢strnent portfolio would fall dramatically and endanger the flow of income for distribution. The trustees meet at le￿ 4 limes a year and the key risks are coiisidered at each meeting. The ioial of all donations at each trustees meeting is reviewed along with the report5 provided by ihe inve5tm¢nt advisors. The InVe￿ment advisors are ven $tritl insiructlOllS to minimi5e the risk within the portfolios. The performance of the separate inve51rnent advi50r5 is considered againsi each other. Objeetlves and aetivitie5 Polities and obJettlves for the publlc benefit The objectives of the foundation are to provide support to such institution5 and purposes as are charitable according to the Laws of England and Wales in such a manner and such proportions as the trustees frorn time to time in their absolute discretion think fit. Details of all donations Jnade in the ¢u￿ert¢ ye2r can be s¢¢n in note 4 to the accounts, which demonstrates the wide variety tsf grants tnade for the public benefit. Under the lerIn5 of the trust deed dated 6 July 2007 the original areas of support ar¢ in respect of the Christian faith. the benefit of the publie in accordance with the statements of belief of the Church of England, and the promotion for thc benefit of the publi¢ of Urban OT rural regeneration in areas of social and economic deprivation. On 30 DecembeT 2009 the objectives of th¢ ¢harity were broadened further to include education, the relief of 5ickn¢ss and the advancement of health, a5 well as sllpport for arts and eulturc. Unsolicited requests from national ¢hariiie$ will generally only be consideTed if thcre i5 some public benefit to the Yorkshire Tegion. It is unlikely that the trulees would support the total e05t of a project and applicants should be able io demonstrate that fijnds have been raised or are iTh the proces5 of being raised from oiher sources. The tnjslees cortfim that they have referred to the 8uidance eontained in th¢ Charity Comtni5sion'5 general guidance on public knefit when revlewing the foundation's aim5 and objectives and in planning future a¢tivities and setting the grant aking policy for the year. The benefits of the charitable actlVLtÈe5 of the foundation are primarily to a section of the public in accordance wiih the charitable objects described abovr ir) the trustees. objective5 and strategies. Requests from national charities are also considered if they are parti¢ularly pertinent to the Charity's objectives and benefit the yorkshi￿ region. This geographical restriction is deemed re&sonable by the trust¢e5. b. Gr*nt making policies The grant maktng polity of the tharity includessmall donation5 {on application) to causes within Ihe objectives and larger long-term projec15. The plan for the future i5 to donate as much as possible, 10 deservin8 applicants. that is at least at the level that broadly rnatches the annual incorne received, thus enabltng the Charity's funds to be rnaintained at a steady level givert the reserves policy on page 7. In the short terni. additional spend. over and above the current level (tf income. will be reqttired lo bring the free reserves down to the target levels described below. Th¢ Liz and Teny Br•Tn&ll Foundation Truslee5' Report and Financial Strtem¢nts YeHr end¢d 5 April 2023 Trustees, report (continued) Achievements aDd performanee: How our grants delivered public benefit Review of a¢tivitie5 and finaneial revieiv The main activity in the year i5 grant-rnakin& in accordance with the list of grants made in the financtal statements. Grants totallinE £I.100.IX)O were made during the year to The Prirjce's Trnst. Thc grants were uscd by the charity to support and help young people start up in business or find work by providing direct grants, as well as training &nd work experiencethrough ¢ourse5and cla55e5. Thi5 work will benefit the publi¢ by providingyotsng people with the QPPOTtunity to progress in life, secuTing them with qualifit81ions, bllilding motivation and self-esteem and helping them achieve their potential. Grants loialtng £309.000 were made to Leed5 University to be used for the University's "Reach for Ex¢ellen¢e" pr(vdramme which gives bright young people from disadv2ntaged backgrounds the best possible chance of fvlfillirtg their potential. Studcnts drawn frotn schools In Lecds. Bradford. Kirklees, Calderdale. Wak¢fL¢ld. Doncabter, Sheffield. Barnsl¢y. Nottingham. Bridlington and North Yorkshire who have each been identifjed as having the aptttude to do well and progress in their studies are given advice bessions and lectures, subject workshops and academic t&%ter sessions to help thern to make decisions aboui Courses and future careers, OPPOrtunitie5 to interact w%th other high-achievers from similar backgrounds to inspjre ihem to aim high and ease their transitioTr to univcrsiiy The grants out of unrestricted funds made in ¢he year amounting to £5,432.17312022.. £5.471. 1721 have continued to fulfil the foundation's objeciives. The foundation aims to increase the level of grants with the plan to bring free reserves down as discussed in the reserves policy below. The foundation's income for the year ended 5 April 2023 was £2.432.388 12022.. £2,163.7541. Grants of £5,432.173 (2022.. £5.471,172) were payable during the year. The size of gran15 varied from £500 to £309,000 and an analysis 15 provided in T￿te 4. Net losses on investments and currency amounted to £6,466,815 {2022'. gains of £3.862,2341, giving rise to a reduction in funds of £10,045,67712022'. increase of £385,727). b. Investment polity and performance In orderto monitor the perforrnance of the investment5. the trustees meet quarterly to Teview the portfolios and assess the current perfO￿lanCe. The trustee5 analyse con501idated data frorn all the invesimettt managers and compare their individual perforn)anee against OTiginal benthmatks set olll by each managcr and against standard market benchmark and indices, for example FfsE 100, MSCI World and ARC Private Client Indice5. The quarterly mcetings also enable the trustees 10 review the asset allocation. currency spread. scctor diversity and charging *ru¢iure$ of each of the portfolios. In addition, the trustees meet anllually wth their iovesiment advtser5 to review the historic performance. discuss the current strategy, review the risk profile of the portfolios and agrtc future investrnenl objectives. Following the annual mectings. the trustees score each tnvesimeni manager based on the investtnent criteria and parameters agred by the tr￿￿ee5 as part of their invcstment selection process. On the basis of this review, Ihe trustees are saiisfjed that the Inve￿Ment 5eCUritiesare performing in line wth eKpectations given current market conditions. Plans for periods It is the intention of the trustecs that the income and capital appreciation of investTnenlS from the expendable fund will be used wholly foT charitable purposes in accordallce with the objeGtives and ￿raTegieS ofthe foundation. The Liz 2nd Tery Bramall FDundalion TN51ecs' RepDrt and Financial Stri¢menlS Year ended 5 April 2Q23 Trustees, report (coniinued) Other policies Reserve5 policy The foundation received a donation of £96,282.052 in the year ended 5 April 2008 as an expcndabl¢ eDdowrnent fund which will provide an antkual incomc to support activities and cover admirtistration and support costs. Free re￿rVeS for the trust total £13,728,814, being the unrestricted funds of the charity. Free reserves have drcreased in the year by £9,627,228. largely due to the losses on inve*ments. In¢otning iesouT¢es relate ¢ntirely to investment in¢orne. Target free T¢Se￿e$ are £500,000 - being the c05t of running the charity Vdch year (Govcrnance co&S plu5 Investment managtmttti costs). The gap between actual free reserves and target free reserves will be tnet by [nak￿g charitable donation5 Ln Ihc future years. b. Prlnclp#l fundTng The tr￿Slee5 are satisfjed ihat lh¢ foundation's assets are available and adquate to fulfil its obligaiions. Approved by ihe Irustees on f OtLw&4r and signed on their behalf by.. Mrs R H Bletcher Tnijiee Eton House 89 Station Road Harrogate North Yorkshire HGI IHF The Liz and Tery Brnmall Foundaiiort Ttvstr¢s' Report and FInanCt￿ Statements Yearended 5 April 2023 Statement of trustees, responsibilities in respeet of the trustees, report and the financial statements The trustees are responsible for preparing the Trustees, Report and the financial staternenls in aecordance with applicable law and United Kingdom A¢¢ountinB Standards in¢luding Financial Reportin2 Standard 102= The Financial Reporting Standard applic2ble in the UK and Republic of Ireland (United Kingdom Generally A¢¢epted Attounting Practice). Th¢ law applicable to charitits in England & Wales requires the trustees to prepare finan¢ial statements for each financial year which give a true and fair view ofthe stat¢ of affairs of the charity and of the incotne and expenditure of the charity for that perÈod. In preparing these financial statements. the tru51¢e5 are required to." select suitable xwunting policies and then apply them tQT15islotly observc iht methods and PTirtciples in the Charities SORP.. make judgments aThd accounting eslimale5 that arc reasonable and PTudcnl- state whether applicable a¢¢ourttang #andards have been folltswed, subject to any materia] departure5 disclosed and explained in th¢ finan¢ial ￿atem¢ll1s. and prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the charity will Continue in bu5ine5S. The trustees ￿ rtsponsiblc for maintainiDg proper accounting ie¢otds which disclose with reasonable accuracy at any time the financial position of the chartty and enable them to ensure that the financial statements comply with the Charities Aci 2011, the Charity (Accounts and Reports) Regu131ioDs 2008 artd the provisions of the trust deedlconstituiion. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and deteciion of fraud and other irregularities. The trustees are r¢spon5ible for the rnaintenance and integrity of the ¢harity and financial information included on the chanty's websiie. Legislation in the UT]iied Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The LIZ attd Tetry BrnTnall Foundatio Truslee5' Report and FinBttcial Sthtrtnents Year¢nd¢d 5 April 2023 Independent auditor's report to the truste¢$ of The Liz and Terry Bramall Foundation Opinion We have audited the financial statements of The Liz and Terry Brdtnall Foundation I'ihe charity'l for the year ended 5 April 202J which comprise the St3leTneDt of Finant121 Activitie4 Balance Sheet. Cash Flow Statetnent and notes to the financial *atements. including signifJc2nt aecouniing policies. The financial reporting fr3mework that has been applied in their preparation 15 applicablc law and United Kingdom Accounting Standards. including FRS 102 Tlie Fiiittitcial RÉportiRig SiaiTdurdfjpplicable IK ilte UK uiid Repiiblsc of/relaiid (United Kingdom Generally Accepted AccountinE Practice). In our opinion, the financial 51atements' 'give a true and fair view of the state of the ¢harity'S atrairs as at 5 April 2023 and of its incoming reqources and application of resources for the year then ended,. .have been properly prepared in a¢¢oTdan¢e with Uniied Kingdom Generally Accepied Axovntirtg Practi¢¢: and .have been prepared in accordance with the reouiTemeMts of the Charities Act 2011 Basisfor opinion W¢ conducted our audit in accordance with International Standards on AuditinE IUKI IISAS IUKII and applicable law. Our responsibilitles under those standards are further described in the Aiidiiof s *éSPOFisibiliiiesfor ilie rtiidii of IlTe firtopicilll SiGÉeRpiepi15 section of our report. Wc are indepcndent of the charity in accordance with the ethical requiremen15 that are relevant to our au(Jil of the fiiiancial staletnellt5' in the UK. sncluding the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that Ihe audit evideoce we have obtained is suffjcient and apprtspriaie to provide a basis for our opinion. Conclusi011s relfjling to goEii2 comcern In auditing the financial 5talement5, we have concluded that thc trustees use of the going concern basis of accounting in the prepar21ion ofihe f2nancial statements 15 appropriate. Based on the work we have peifoTtned. we have not identified 8rty materièl uncertainties relating to tvcnts or tondilions that. individually or collectively. fftay casi signifjeani doubt on the Charity's ability to cortljnue as a going contetn fot a period of at Ivdst 12 months from when the flnancial stalemenis are authorised for issue. Our responsibilities and the respon5ibilitie5 of the trust¢es ￿spe￿ to going ¢onG¢Tn are dwribed in the relevant 5ection5 of this report. O¢lier inforiiiorion The other information comprises the infoTmation included in the annu21 report, including the IruAees' report, other than the fInancial Statements and our attdilor's report Ihereon. The trustees are responsible for the other information torttained within the annual report. Our opinion on the financial statement5 doe5 not cover the other information and. except lo Ihe extent otherwise explicitly stated in our report. we do not express any ftsTrn of assuran¢e ¢on¢lusion Ihereon. The Liz and Tw Bramall Foundation TNskes' Report and Financial Stalernents Yearet*ded 5 April 2023 Independent auditor'5 report to the trustees of The Liz and Terry Bramall Foundation Our T¢sponsibility 15 to read the other snforJnation and, in doing $0, eonsider whether the other infortnatiort is tnaterially inconsislenl with ihe fJn8ncial statemertis or our knowledge obl8ined in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent tnaterial misslalements, we are required to determine whether thi5 gives rise to a material misstatement in the financi21 statements themselves. If. based on the work we have perfornied. wc conclude thai there 1$ a material misslal¢ment of this other infortnation, we are required to report that fact. We have nothing to T¢POrt in this regard. Mutters ivhrftlr are reqiiiredio report by ucephllll In the light ofihe knowledge and understanding of the charity and its environment obtaioed in the course of the audi( we have not identified matertal misstatements in the trustees. report. We have nothin8 to r¢port in respect of the following tnatters in relation to which the Charities {Accounts and Reports) R¢gu12tions 2008 TequiTr us to report to you if. in our optnion.. +ihe information given in the tnjstees. report is inconsistent in any Tnat¢ria] rc5P¢Ct with the financial statements.. or '5uffJcienl accounting records have not been kept,. or .the financial 5tat¢ments are not in agreement with the accounting Fecords., or "we have noi received all the information artd explanations w¢ reqllire for our audit. Respoilsib￿lftesoftrlllleeS As explained fftore fully in the trustee5' responsibilities statetn¢nt set out on page 8. the trustees are responsible for the PTeparation of the financial 51at¢rnents and for being satisfied that they give 2 true and faiT ￿¢w, and for such inteTnal control as the tW*¢es det¢rtnine is necessary to enoble the preparation of fjnancial 5tatetn¢nts tha¢ are fr¢¢ from material misst8temeni. whether du¢ 10 fTaud or error. In preparing the financial statements, the trust¢e5 are responsible for assessing the charity's ability to ¢ontinue a5 a going concem. dirlosing. as applicable. matters related to goin8 cimcern and using the going ¢oncern basis or a¢¢ounling unless the tyustees either intend to Iiquid2te the charity or to cease operations, OT bave no r¢alislie altemalive but to do so. Auditor's reSponsib￿lI1t$for ihe tsiidiiofrhefinancialstaleMeNÉ5 We have been aPp)Int￿ a5 auditor under Secticn 144 of the Charities Act 2011 and report in accordance with the A¢t and relevant Tegulaticns tnade or having effect thereunder. Our objeelives are 10 obtain rra50nabl¢ assurance about whether the financial 5tat¢menl$ as a whole are free from material mi5Stalement. whether due lo fraud or error, and to issue an auditor's report that includes our opinion. ¢asonable assurance is a l)igh level of a55urance. but 15 Rot a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material tnisstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individu211y OT in the aggregate, they could reasonably be expected to influence the economic decisions of useTS taken on the basis of these financial statements. 10 The Liz attd T¢ny Bramall Foundation TNste¢s' Report and Financial Staiemenlg Year ended 5 April 2023 Independent auditor's report to the trustees of The Liz and Terry Br#mall Foundation ITregularities, including fraud, are instances of non-compliance with laws and Tegulation5. We design procedures in line with our Tesponsibilities, outlined abtsve. 10 detect material mis51at¢menlS in respe¢1 of irrtgularities. including fraud. The extent lo which our procedures ate capable of (lel¢cting i￿egular1tI¢$, in¢luding fraud is detailed below.. OUT approa¢h to identifying dnd as5e55ing the risks of material misstatement in respect of irregularities, including fraud and non-compliante with laws and regulations, was a5 follows.. .the engagefflenl partncr ensured that the engagement team colleclivtly had the appropriate competence. capabslitie5 and ski115 to identify or recognise non-compliance with applicable 12ws and regulations., we identified the laws and regulation5 applitabl¢ to the charity through discussions with trustces and other management, and from out commerctal knowledge and expeTience of grant making charitte5 and organisalion5 W&th both investtnenl portfoli05 and investment properties. •we focused on specific laws and regulation5 which we considered May have a direct material effect on the financial stateinents or the operations of the charity. including the ChaTities Act and anii-bribery legislation. we assessed the extent of cotnpliance with th¢ laws and regulations idcntified above through makinE enqutries of management and inspecting legal ¢0tr¢sponden¢e,' and 'idenlified laws and regulations were communicated wtthin the audit team regularly and the team rernatned alert to instances of non-cornpliancc throughout the audit. We assessed the susceptibility of the ¢h2Tity's fiDanrial statements to Tnateria] tDiSStatemenl. including obtaining an understanding of how fraud might occur. by.. 'review¢d Tninute5 and documentation 5UPPOrting the authori5ation of remittal of gTants paid and ¢onsideraiion of the recogniiiott polity over future grants payable. •making enquirics of management as to where they considered there was susceptibility to fraud, their knowledge of actual. suspe¢i¢d and allegcd fraud., "considering the internal conlTo15 in place to mitigate risks of fraud and non-compliance wilh laws and regulations. This in¢luded assessing systems and pro¢esses over the awarding and T¢tnittal of grants payable. To addrc55 the risk of fraud through management bias and override of controls, we= "performed analytical pro¢¢dures to identify any unusual or unexpected relationshEps." .iested journal eniri¢s to idertiify unusual transa¢iions.' and "inve51igated the rationale behind significant or unusual transactions. A further description of our responsibilities for the audit of the financial *atemenis is located on the Financial Reporting Council's w¢bsiie at.. ww.frc. .uklaudiiorbTes onsibiliiies. This descrtplion form5 part of our auditor 5 report. The Liz and Terry Bramall Foundation Trustees, Retx>rt and Financial Statements Yearended 5 April 2023 Independ¢nt auditor's report to the trustee$ of The Liz and Terry Bramall Foundation Use ofour report Thi5 report 15 made 501ely to the charity's trustees. a5 a body. in accordance with part 4 of the Charities (Accounts and report$} Regulations 2008. Our audit WOTk has been undertaken $0 that we rnighi #ate to the charity'5 tru51ees those maltcrs we 8re rtquirtd to state lo Ihejn in an auditor's report and for no other purpose. To the fullest exient perjnitled by law, we do noi accept or a55ume responsibility to anyon¢ other than tlie charity and the charity's trustees as 2 body. for our audit work, for this report. or for the opinions ￿ have fonned. Armstrong Watson Audit Limited, Statutory Auditor Northallerton Dale.. 5 December 2023 Armstrong Watson Atsdit Limited is eligible foi appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a Company under section 1212 of the Companie5 Act 2006. 12 The Liz and Terry Brarnall Foundation TN8te¢s' Report artd Fin8tJ¢ial Staiements YeaT tnded 5 Awil 2023 Statement of financial activities For theyear ended 5 April 2023 UDre5tricted Fund5 2023 Endowm¢nt Fund5 2023 Total 2023 Total 2022 Noie Income from: Investments Other tncome 2,421 J88 11.000 2,421J88 11,000 2.163.754 Tot41 2,432J88 2.432J88 2.163,754 Exp¢ndlture on: Charitable activiiies (5.592.801) (418,449) (6,011.250) (6,055.7821 Tot41 15,592WIII (418A49} 16.0112501 (6.055,782) Net expenditure bEfore other gain$ And losses {1,160.413) (418.449) {3578,862) 13.892,028) Net gainsl{1055csI on investments Net losses on inve¥tm¢nt Property Realised gainsl{lossl on currency Transfer5 {SJ61 J50) (5J61350) 6.425,962 12.440,5991 1123,1291 11.105.465) {5J61 J50) (1,105.465) 5J61J50 Total (6.466.815) (6,466.815) 3.862.234 Net movement in funds (9.627,228) (418,449) (10,045,677) 129.7941 Reconciliation of funds Toi81 funds at 5 April 2022 23 J56.042 91.466.681 114.822,723 114,852.517 Total fund$ at 5 April 2023 13,728,814 91.048232 104.777,046 114,822,723 All activities to continuing operations. The notes on page5 17 to 28 fortn paFt of these fsnancial statement5 13 The Liz alld Tetry Brarnall Foundation Tw5tees' Report and Finan¢ial Statements Yearended 5 April 2023 Comparative Statement of financlal 2ctivRti¢s Forihepeftr eFided 5 Apri12022 Unrestricted Funds 2022 Endowment Fund5 2022 Total 2022 Totsl 2021 No¢e Ineome from.. Inve5ttn¢nts 2.163.754 2.163.754 2,159.144 Total 2.163.754 2.163,754 2,159.144 Expenditure om: Charitable activities (5.640.261) (415,521) (6.055.782) (5,812.1791 Total (3A76,507) {415.521} 16.055,782) 15.812,1791 Net expenditure before othetr gai•5 10$5e5 {3.476.5071 (415521) {3.892.028} {3.653,0351 Net {lossesygains on investments Net losses on investment PToperty Realised loss on curreThcy Transfers 6,425.962 6.42&962 18.464.122 {2J40,599) {123,129) 12.440.599) 1123,129) 6,425,962 360,239 {6.425.962) Totsl 3,862,234 3,862.L14 18.824.361 Net mov¢m¢nt in funds 385,727 (415521) {29,794) 15.171,326 Reconciliation of funds Total funds at 5 April 2021 12,970J15 91J82302 114,852,517 99.681.191 Total funds at S April 2022 23J56,042 91.406.081 114.822.723 114,852,517 All activities to tontinuing operation5. Thi5 page repr¢sent5 the disclosure of compatative inforrnalton only. 14 The Liz T¢Yry Bramall Foundation T￿Stee$, Rep)rt and Fingn¢1￿ Sthtem¢nlS Y¢arend¢d 5 April 2023 Balance sheet As at 5 April 2023 2023 2023 Z022 2022 Nole Fixed assets: Investments Tangible assets Investment property 89,910J45 2.083.478 7,87SOOO 100.557,854 2,083,478 7.875,000 99.868.823 110,516,332 CurreDt 855¢ts.. Cash at bank Debtors due within one year 12 5,489.083 5,039.826 5.489.083 5.046.512 Credltor5.' amounts falling due within one year io 1580,860) {740,1211 Net current assets 4.90&223 4,306,391 Net a55et5 104.777,046 L 14.822.723 The funds of the foundation: Endowtn¢nl fund Unre5trictrd fund 13 13 91.04&232 13.72&814 91,466,681 23,356,042 Total foundation futtds 104.777,046 114.822,723 These fjnancial statements weT¢ appioved by the board of trustce5 on by= 2023 and were signed on its behair rs R H Bkteher Tnisiee The tjotes on pages 17 to 28 form part of these financial statements The Liz and Tery Bramall Foundation TNslee5' Report and Financial Sthtem¢nis Yearended S April 2023 Cash flow statement for￿llr elided 5 April 2023 2023 2022 Nolé CA$h flow$ from operating activities Nei incomelllossl for the reporting period Adjustments for.. Loss on investtnent properties {fjainsllioss¢s on investrnents Dividends interem from investmen¢s Increa5el(Decreasel in creditors (ln¢re&sel/Decr￿se in debtors (10.045,677) {29,7941 2.440,599 (6.425,962) 12,163,754) 594,919 1.339 5J61,350 (2,432J88} (159.2611 6.686 Net eAsh provlded by operating activitie5 Cash flows from investing attivltle5 Dividends, iot¢re5t from investments Net sale of investrnents {7,269.290) 15.582,653) 2,432J88 5,286.159 2.163.754 3,494.847 r+iet cash provlded by investing activities 7,71&547 5.658.601 Change in cash and cash equivalents tn the year Cash and cash equivalents at the beginning of the yvdr 449,257 75,948 5,039,826 4.963.878 Cash and cash equlv*lent$ xt the ¢ttd of the y¢4r 5.489.083 5.039,826 The notes on page5 17 to 28 form part of these financial statements The Lit and Terry Bramall Foundation Trnstees. Report and Financial Statements Ye3r ended 5 April 2023 Notes (formingpart ofiliefinovel&lstutemen15) Accounting policie5 ofprÉpuroti&n 6&gessment ofgoing concer The foundatton is a public ben¢fit entity. The financial statements have been prepared under the historical cost convention, a5 modified by the revaluation of investments to tnarket value and are in accordance with Accounting and Reporting by Charities.. Statement or Recotnmeoded Pra¢ti¢e appliabl¢ lo charities preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective l January 2019} I'the SORP'I, th¢ Chariiies Act 2011 and applicable United Kingdoffl actounting standards. The financial statements have been prepared to give a'true and fair. view and have departed from the ChaTities (Accounts and Reports) Regulations 2008 only to the extent required to provide a'true and fair view,. Thi5 depaTture has involved following Aceounting and Reporting by Charities preparing their acrounts in accordance with the Financial Reporting Standard applicable in the UK and Rep￿bliC of Ireland IFRS 1021 issued onl January 2019 raiher than the Accounting and R¢porting by Charities.. Statement of Recommended Praelice effective from l April 2005 which has $in¢e becn withdrawn. Going Concern The flnancial statement5 have been prepaTed on a going concem b￿$. The Liz and Tery Bratnall fcAJndation has sufficient cash resouTces and liquid inve51tn¢Trts to cover cllrteni obligations. The trustees have a reasonable expectation that the chaTity has adequate resources to continue ill OPeTational existfflce for Ihe foreseeable future. They continue to believe ihal the going concern basis of accounting is appTopriate in preparing the annual fjnancial statement r£goÉirces All incoming resource5 are included in the s12tement of financial aeiiviiies when the foundation has entitlement to thc funds, probable receipt of funds the amount can be measured with sufficient reliability. Investmertl Income, irtcluding associated lax Tecoveries, is recO￿lsed when re¢¢ivable. R£sources eypended All expenditure is accountcd for on an ac¢ruals basis and has been listed under headings that aggregate all the costs directly attributable to that aclivlty. Where costs lincludillg oveTheadsl cannot be directly attributed they have bttn allocated to a¢tivitie$ on a basis consistent with the of ttsources and the tirne spent on those activities, Cost5 incurred in M￿aging the investrtjents to raise invc5ttnent income have bccn disclosed &$ charitable activitics. Chari¢abl¢ aetivities inelllde expenditur¢ a￿ciated with grant making aTrd include both the direct costs and support costs relating lo these aetivitlC5. Govetnance tosts are those incurred in the govemance 2￿ngernent of the foundation which relate to ihe general runnin8 of iht eharity as opposed to those cost5 asso¢i2ted with generating funds or charitable activities and its assets and are primarily aS￿)Ciated with constitutional and siatutory requirements. The Liz and TeTry BTamall foundation is consid¢Ted to pass the tests Set out in Paragraph I sCh￿ule 6 Finance Atl 2010 and therefore it meets the definition of a charitable trust for UK income tax purposes. Ac¢oTdingly. the charity is potentially exempt from tuation in respect of income or capital gains reeeived within ¢aiegories covercd by Part 10 Income Tax Act 2007 or Section 256 of the Taxation of Char¥eable Gains Act 1992. to the extent that Such incotn¢ OT gains are applied exclusively to charitable pur￿Se$. 17 The Liz and Tery Bramall Foundation Trust¢¢s' RepDft and FtJJan¢ial Sialemen15 Yearended 5 April 2023 Notes (¢oniiiiried) Grantspqyable Grants payable are payments made to third partie5 in the fisrtherance ofthe charitable objective5 of the Foundation. Single or multi-year ￿antS are recoEnibed when either the recipient has a rea50nabl¢ expectation thai they wll receive a grant and the ITu*ees have agreed to pay the grant without any condition, or the recipient has 2 reasonable expectatitsn that they will reccivc a 8ranl and that any condition attaching to the grant is outside of the control of the Trustees. Accounting pollele$ A provision for gTants payable is only recognised when the intention to pay the grant ha5 been comrnunicated to the grani recipicnt and there is no uncertaillty over tlie amount or timing ofthe grant. Where there remains discretion in the contr(pl of the Trusteesover future grants these are treated as a contingent liability as dis¢l¢)sed in note 4 to the firtan¢ial statcments. Funds The expendable endowment fvnd has been established by the donor to generate income to be used for the obje¢tivcs of the charity and therefore will represent a core fund for continuing activities. However, the trustees do have the option {if needed) to spend the expendable ¢Bdowment a5 and when required. The incotning T¢souf¢E5 fTOm eDdowmenl funds {in¢luding Capital appreciation on investments) 1$ unrestri¢ted_ Unrestricted funds are available for the use at the discretion ofthe trustees in furtherance of the charitable objectives of the trust. F&red 055elinvesthients Investments in securtties aTe slated at rnarket value. The majority of listed investments are stated at the bid price or the last traded price, depending ort the tonvention of the stock exchange on which they aTe quoted, at the balance sheet date. Fixed interest 5ecuTitie5 are stated a¢ their clean prices. Accrued income is a¢counted for within in¢ome. The ￿alISed and unrealised gains on investments are reflected in the statement of financial activitie5 as they arise. Rrali5¢d gains and Iossc5 on investmenis are ¢al¢ulated as the differenee between sales prweeds 2nd opening rnarket value Ipurch&se date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value lor purchase dalc Èf later). Realised and unrealised gain5 arc not separated in the statement of financial atiivities. Where a ￿lIsed or unrealised gain ari5e5. this is recognised against the endowment fund in accordance with the SORP. However. the OTigiDal dtsnor has confirmed that capital gains can be used by the charity to support the further2nce of its Charitable objectives. Realised or unrealised gain5 are therefore transferred to unre5tri¢led funds accoTdingly. Ai each peri 25.000 10.000 10,000 5,000 2,000 10.000 10,IKiO 5.OQO 10.000 5,000 5.000 2,590 loo,000 5,000 20,¢XK> 30,￿0 10.000 2.000 5.000 5.691 6,000 5.0(K> 3,000 5.000 50.000 100,000 5.000 1.000 5.000 10,000 5.000 5,000 5.000 I.ooD 11,000 2.0 50.000 40,000 50,000 5,000 20 The Liz and Teny Bramall Foundatiort Tntstees, Report ajmi Financial Statement5 Year ended 5 April 2023 Notes (continued) Gr#vt$ p*yable (corytiiiued) High Green Developmeni Trust IHGDTI ShetTJeld Hurnber Job Hub CIC Humberside Scouts Ignite Communitie5 CIC- {Hulll Imagifte IF Theatre Company In20ut ITi5e Intema¢ional- Isheffieldl JoanDa Project- (Leeds) Kids Klub Leeds King51Tust Neiwork- Iwithernsea) Leathley Parish Rooms- (Lealhley Village Hall) Leeds Christian Community Trust {Hun51et Initiative) Lttds Diocese of Leed5 Music (Organ Scholarship) Leeds International Piat)o Compdition Leeds Lieder Leeds Mencap Leed5 Milld Leeds Min*er Leeds Playhouse Leeds Sea Cadets Leeds University Leukaemi3 Care Lifeline Hatroga¢¢ Light of the World Community Centre Lighthouse (West Yorkshire} Little Sisters (tf the Poor- ILeeds} Looking Back CIC Mama T's Dance House CIC- Hull Marie Curie- Bradford Mark Scott Foundation Martin House Hospice Mashamshire Community Officer Matihtw Coleridge Music Mind in Harrogate Mrs J Jowettt- (Palmgrove Communiryl Multiple S¢lerosis Trusi- Isheffjeldl Multiple System Atrophy Trust- IYorkshiTel Nomad- Opening Doors- Sheifield Northdale Horticulture Northern Ballet Northem Opera Group's Leeds NSPCC Chjldline Ocean Youth Tru￿ North Older Citizens Advocacy York One in a Million One in A Million Bradford Opera North Otley Christian Resources Hub IOCRHI 9.220 5.000 2.000 5.000 25.000 15,000 2,000 5,000 80,000 2,000 50,IX)O 4,000 17,IK>O 100.000 45,IXK> 10,0 200,WO 309,￿0 10,000 15,000 5,000 s,000 5,000 3.000 2.000 50.000 25.000 100,000 2.500 700 10.000 10.000 2.570 7.000 10.332 4.400 200.000 10.000 250.000 5.250 5.000 25.000 20.000 200.000 5.000 21 The Li2 and T¢rry Bramall Foundation Trnsi¢es' R¢port and Financial Statemen YearMded 5 April 2023 Notes (continiied) Grants payable (coNtiiiiied) Ouilane Methodist Church- IHuddersfJeldl Parish of St Wilfrid- Harrogate- Assistant Organist PCC of the Eccle5iaslieal Parish of Si Peter & S¢ Leollard PCC of the Eccle515Stical Parish of St Michael le Belfry Peter Marlow Foundation Prince of Wales Hospice- IPonlefra¢il Prison Fellowship lin Yorkshire) Raise The Roof Cornmullity Project- (Hull) React- Supporting YoTkshiTe Ripon City Band Royal National lll51itule for Deaf People- {RNID} Royal School of Church Mu51C Ryedale Fcstival TTUSt Ltd Ryedale Festival Trust Ltd Ryedal¢ YMCA S & H Training & Developtnent {UKI Ltd- Sowcrby Bridge Saint Michael's Hospie¢ School Home Support Services UK Selby Abbey Organ PCC She￿Ield Method1￿ Church Shelter Sheffjeld Advice Centre Shine West Bowling Shipley Recorder (Fiona Smith) Skelmanihorpe Youth Club South Yorkshlre Community Foundation Spark5 Project CIC- Isearboroughl Spear Leeds Life Cotjnections St Andrew's Communiiy ChuF¢h- IStarbe¢kl St Catherine's Church CentTe St Catherine5 Church WakefJeld- Food Bank Appeal St Catherine's Hobpice- NY St Gemma's Hospi¢e- Wakefield St George's Crypt- (Leeds) St Giles Trust St Luke's Ho4)ice Sheffield St Margaret's Thombury PCC Si Mary's SpTOtbrough St Paul'5 Church & Community Cenlrc-(Huddersfieldl St P¢ter'5 Bentley St Vincent de Paul So¢iety- Support in Leeds Steel City Choristers- Isheffield) Suc Ryder- Wheatfields Hospire Sunshine & Smile- Leeds Swale¢Jale Festival Teeih Teatn- (Hull) Tewit Youth Band - Shortfall fvr Band Tour to Tubcany 22 The Ben¢delti Foundation The Chapter House Youth Choir- York The Church Amiy, ICho¢olate Box- Sheffield) The Conservations Volunteer5 Hollybush- Kirk5tall 1.000 5,000 2,500 20.000 3,675 10.000 7.200 5.000 10.000 5,000 10,0 60,000 5,0(N) 10.000 s.000 5.000 loo.000 5,0(K> 16,QOO 2,000 10,000 10.000 1,437 5,000 50,IK>O LO,IKIO 43,500 10.000 5.000 5.000 5.000 50,000 iO,O(K) 5,0(K> 5,000 5,000 2,000 2.500 10.000 3,500 5,000 50,000 2,500 500 5.0(M) 5.0(MJ 5.OaO 1.500 10.000 5,000 22 The LLZ and Terry Bramall Foundatio Trustee5' Rep)rt and Financial StalemeJit5 Year ended 5 April 2023 Notes (continugd) Grants pay*bl¢ (¢oittiittied} Th¢ Creative Map CIC- (Leeds) The Cross Project Wakefield The Ethel Tnjsl The Forward Trust The Georgian Theatre Royal The Hepworth Wakefjeld The Hinge Bridlington The Junction The Linacre In5titute- (S & W Yorkshire) The Living Rootns- (Northallertonl The Message Tru51 {Eden Network) The National Aut15ti¢ Society- (Rotherha¥nl The National Railway Museum The PTincds TTUSt The Prince's Trust The Prince's Trust The Prince's Trust The Vulcan L¢amirtg Centre- (Hull) The Wesley Centrc The World Trust- (Ripon International Festival) Theatre @ 41Lid - (York) Training foT Employment CIC ITfel- she￿ield Transform Theatre Proje¢ Two Ridings Corntnunity Foundation Wakefield Cathedral Wath-upon-Dearn¢ Community FestlV21 Wellsprirtg Harrogale Wellspring Therapy & Training Wellspring Therapy Qirly Payment Wellsprings Together- Bradford We5tow Petanque Club- Ryedale Whirlow Hall Farm Tru5t- {Sh¢ffieldl Whixley with Grcen Hammerton PCC WISH WoTn¢n in Sllpported Housing Women Centre Ltd- (Halifaxl Yorkshire Assoc for Music & Special Educational Needs Yorkshire Camp5- Nethersi(fe Hall York5hiTe Historic Churches Trust YorkshiTe Philhartnonic Choir Yorkshire Philharmonic Choir Yorkshire Sculpture Park Youth Movement Agains¢ Violence CIC- {Le¢dsl 5.000 10,000 3.000 50.000 25.000 55.0 10.O(K> io.ooo 10.000 5,0 loo.000 5,0 250,000 275.000 275.000 275.000 275,0(K> 2,5 3.000 5.000 5,000 1.5QO 10.000 25.000 5,000 3,000 12,500 12,500 12,500 5,0 2.0 3,000 10,000 2,850 10,000 3,0 75.000 60,000 12,000 8.0(Kl loo.000 4,000 5.432.173 There 15 a contsngent liability totalling £10.562,820 in re5pe¢t of grants that the foundaiion has given initial approval for. to be made frorn unTestricted funds. The5¢ gTants are subject to an annual review being made by the foundation. The total commitment is therefore not provided for in these finallcial sialemenls. 23 The Liz and Tery Bramall Foundation TNstees' Report and Financial Sthtemenls Yearended 5 Apr¢1 2023 Notes (continued) 2023 2022 Future ¢ommitrnents- within l year Futrjre commi¢ments- betwecn 2-10 years 4,777J20 5.785300 3,742,551 6.312.100 10,562.820 10,054,651 GovernAnee eo$ts 2023 2022 Cosrt of producing charity accounts, ¢ax rrfums and ¢haTity COrntni55ion forms Audit fees TaK advisory fees Legal fees Other fe¢5 33,000 18.460 49149 79,118 2,201 33,000 10,200 44,647 79.340 6.902 182,628 174,089 The TTUStees do not consider any governance costs to represent SUPPOrt eosts as they all relate to the governaTJce of the Charity. Investmettts- $e¢urities 2023 2022 Securities Inv¢slments at market value at beginning of year JOO557,854 97,626.739 Add.. investments pur¢hased in the year 11,849,226 11.782.201 Dedllc¢'. investments sold tn the year {at market value or ¢ostl {18,697,720) {16286.9521 Nel unrealised 8ainlllossl on revaluatiotl (3.799.015) 7,435.866 Investments at m4rket value at end of year 89.9AQJ45 100.557.854 Proceeds of investments sold in the year 17,135J85 15,277.048 Deduct.. investments sold in the year (at market Value or costl (18.697.720) 116.286,952} Realised g2Snllloss) at market value at end of year (1.562 J35) 11,009.1x141 24 The Liz and Tetry BraTtJall Foundation TrustCe5' Report artd Finatttial Stsitjnellts Yearended 5 April 2023 Notes (continued) lfftvestments at 5 April comprised: UK fjxed interest securiti¢s UK equiiies Investments assets outside the UK Other- hcd8e funds and altcrnalives 8.219.984 8.140.471 59,767,434 13,782,456 7,945.423 8.558.031 68,663,603 15.390.797 100 557 854 The following is a rcconciliation of the movement itt the year of each class of a55et that the foundation has invested in.. UK fixed UK equitle5 int¢re$t seturities Inve5tTh¢nt Other hedge *$s¢t$ held funds #nd outside the Iternatives UK Total Investments at market value at the beginning of thc year Add.- Inv¢5trnen¢S pur¢hased in the year Dedllcl.. investmen15 sold in the year Net unrealised gain/{10551 on r¢valuation 7.945.423 8.558.031 68,663,603 15,390,797 100,557,854 4.163,176 12,045,530) 11,843.085) 596,347 6,556.878 532.825 11.849,226 {572,5551 114.037,973) {2.041,6621 118.697.7201 {441.3521 (1.415,074) 199.504) {3,799.015) 8,219,984 8.140A71 59,767,434 13.782,456 89.910J45 M#teri#l inve$tm¢nt$ The following l?oldings represent more than 5Yfj of the market value of the ponfolio and are therefoT¢ classed as matertal interests of the tru*.. 2023 2022 Sarasin Global Equity Real Retum- Inc SaTasin Multi-Ass¢i Siralegic- Inc Sarasin Global Hi8her Dividend- Ine 6.200/0 6.280/0 7.78 /. 7.83Vo 8.56Q/o T*nglbl¢ gmd programrne re19ted A55et5 Property 2023 2022 17 Long Meadow, Skip¢on Brarnall House. Skipton N¢therside Hall. Nr Skipton 78 High Street. Harrogate 231,146 366,563 975,673 510,096 231,146 366.563 975,673 510,096 2,083,478 2.083,478 25 The Liz and Tery BrBmall Foundation TTUStees' Rep)rt and Financial Sthi¢m¢nts Year ended 5 April 2023 Notes (continued) On the 13 December 2013 the trustees purchased 17 Long Meadow, Skipion at market value. This is being leased to the Golden Lane Housing for a peppercorn rent. Golden Lane Housing isa registered charity who work in panneTship with M¢n¢ap to provide housiJg for children with mentalnearning disabilities_ On the l December 2014 the trustees purchased the Black Bull pub at mark¢t value. This is being leased to Horizon Life Training for a pepper¢otn rent. On the 10 M2r¢h 2015 the truslces purchased Nelherside Hall at mark¢t value. This is being leased to Yorkshire Camps for a peppercorn rent. On the 27 O¢lober 2016 the tn2Stees purchased 78 High Street at market valur. Thi$ 1$ being leased to Well Spring Therapy Training for a peppercorn rent. The propertie5 at 78 High Stree¢ Starbe¢k, The Black Bull. Netherside Hall, Skipton and 17 Long Meadow in Skipton are assets thai are held to furthcr the charitable objects of the Foundation through supporting the eharities leasing them by ehargin8 a p¢ppeT¢om rent in each inslanee. Th¢ trustee5 have considered èll tangible fixed aSset￿prograMMe related assets at the balance sheet date and have identifjed no indication of impairment. Investment property Property 2023 2022 3 Savile Row, London 7J75,000 7.875,000 7,875,000 7.875.000 The Trustees have assessed thai there has bttn no chEn8c in market value of the asset in the year. The property was revalued by Cushman & Wakefield on 04 October 2022. io Creditor5: amount5 fAlling due wlthltt one year 2023 2022 Cost of PToducing clkarity accounts. rax retums atsl charity ¢O[nmi￿Io￿ fonns advisory fees A¢¢Nals- Audit 8nd accountancy fees AcEru3Is- Jnvesiment maTrag¢r5' fees Accruals- Donaiiotss made Savile Row- overdistriiwled trz &250 11,750 21,400 92,808 340.275 105J77 8,250 10,579 10,200 101.660 574,152 35.280 58ffj860 740,121 26 The Liz and Teny Brdmall Foundation TTU5kes' Report and Financial Statement5 Year ended 5 April 2023 Notes (conliniied) Debtors: arnount$ re¢¢lvxble due within one year 2023 2022 Unprcsented in¢om¢ 6.686 6.686 12 Att2ly$is of net tash funds 2023 2022 Cash at bank Cash al investment managers 3112,104 1.676.979 J.508,364 1,531,462 Net c*$h funds 5889.083 5,039,826 The Trustees consider, due lo the ability to access the asset within less thatt 14 days. that ¢ash held with investment managers be treated as eash funds over ittvestments. 13 Analysis of net a55et5 b¢tweell fund5 The ieserves of the charity can be allorated to nct as5Ct5 as follows: ExpendAble Unrestriet¢d elldowment Tot41 Total 2023 2023 2023 2022 InvestmenLS- securities Tangible fixed asws and Programme investments Inve5ttnent property Cash at bank and in hand Other net Current assets 91.048.232 (1,137.887) 89.910J45 2.083,478 2.083.478 100.557.854 2.083,478 7,875,000 7.875,000 5.489,083 S.489.083 1580,860) (580,8601 7,875.000 5.039,826 1733,435) 91.048.232 13.728,814 104,777,046 14.822.723 £5,361,350 has been transferred to the expendable endowment fund from unrestricted funds itt the year. This amouni relates ¢0 the total realised and unrealised losses arising on fix¢d asset investments. The transfer has been made in accordance with the agreernent rea¢hed with the tru5te¢s (who represent the original donor). 27 Th¢ Liz and T¢ry Bramall Foundation Trustees. Rewrt and Financial Stsiements Yearended 5 April 2023 Notes (con£inued) In the prioryear thr allocation of reserve5 to net assets was as follows.. E%p¢ndMbl¢ Unrt5tri¢ted endowment Total Total 2022 2022 2022 2021 Investments- securities Tangible flxed assets and programm¢ lnvesttnents Inve5tfflent property Cash at bank and in hand Other nct Cu￿ent 2sse 91.466.681 9,091.173 100.557J54 2,083A78 2,083,478 97.626.739 2.083.479 7W7SOOO 5,039,826 (733,4351 7,871000 5.039J26 {733,4351 10.315,598 4.963,878 1137.1771 91,466,681 23J56,042 114.822,723 114,852,517 14 Payments to trllstees #ttd related party trans&etlons No remuneration or expense5 WCFe paid to the trustees for their service5 as trust¢e5 during the ycar12022.. £nil). No staff were ernployed by the charity during the ¢urr¢nt year. Fees of £79,118 {2022'. £79,340) have been paid to Raworths LLP. which És a related paty of Raehcl Tunnicliffe. Grants of£200,000 have been paid io Oper8 North. which is a related party ofTerence Georg¢ Bram211, Elizabeth BTa]nall and Rebccca Bletcher. During the year Dr Terence Georgt Bramall madt a donation of £999.99 to the charity via the Chartties Aid Foundation. Yorkshire Camps is a charity which occupies Netherside Hall, an inyesttnenl PTOP¢rty held by the Liz and Terry Bramall Foundation. Yorkshire Camps intends 10 ¢atry out alteration work ai Netherside Hall for charitable use. A donation of £75.(KK) was paid to Yorkshire Camps during the year which may in p&rt be used toward the alieralion costs. Use of this donation is ei the discretion of Yorkshire Camps. 28