THE BROOMTON FOUNDATION REPORT AND ACCOUNTS YEAR ENDED 5 APRIL 2022 THE BROOMTON FOUNDATION l N D EX Year ended 5 Aprll 2022 Page General information Trustee$. annual report Auditor's report Staternent of financial attivityes Balance sheet Stsrement of cash flow$ 10 Note$ to the financial sratements THE BRQOMTON FQUNDATION GENERAL INFORMA TION Year end•d 5 April 2021 Establlshed by deed 6 April 2008 Charity number 1125386 Tru$tÈ¢5 B Charnberlain J F Chamberlain R H Chamberlain K E Lewis Prlnclpal offlce Provide￿(e House 141-145 Princes Streer Ipswich &Jffolk Ipi ioi Trust summary The charity wa5 e5tabli$hed in the Unked Kingdom by deed dated 6 April 2008. The income and ¢apital of the Trust is held by the Trustets for such charirable purposes as they think fit Up EO S April 2018 £9,698,127 was gifted to the Tnjst. On 31 December 2018 £1,350,000 wa5 grfted to the TrusL On 24 December 2019 £470,000 was yfted to the TrusL On 23 December 2020 £1.050,000 was grftsd to the Trus¢ On 22 December 2021 £3,150.000 was gifted to the Tru$L Bank•rs C Hoare & Co 37 Fleet Street Lon(k)n EC4P 4DQ Investment advlsors CCLA Investment Managernent 85 Queen Wiccori? Stree¢ London EC4V 4ET Audltor D￿on Wilson Audit Services LLP 22 Chancery L￿¢ London WC2A I LS THE BROOMTON FOUNDATION T RU STE ES ANNUAL REPOR T Year ended S Aprll 2022 The Trustees present their annual report and a¢¢ounrs for the year ended 5 April 2022. The accounts comply with current ststurory requiremenrs and are in compliance with the relevant provisions of the char￿leS Act 2011. the Trust Deed. and Accounring and Reporring by Charities: 5tst¢ment of R¢¢ornmended Pra¢ri¢e applKable to ch2riti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeetive I january 20191. The report sho¥ld be read in cgnjunction with the general Inforniation provided on page 2. Admln15tratlve Informatlon The 8roornton Foundatlon is a charry registered with the Charity Commi$5i9n. registrauon number 1125386. It 1$ governed and constlEUted by a Trust Deed dared 6 April 2008. Structure. governance. and management The Tru$tee$ who have served during the year are those Shown on page 2. The power of appointment of new Trvstees is vesred in the current Trustee5 in accordance with the term$ of the Trust Oeed. New tru5tee5 are thoroughly briefed by the existing trustees on appointment to their posts. Obi¢ctives and actlvitie5 for the publlc benefit The objert of the Charity, a5 Set out in the TN5t Deed, is to provide financial support to sueh charltable purposes or charitable institLlti¢n5 a5 the Trustee5 in their ab501ute discretion selecL The charity's only a¢tNity is fulfilling thi$ objecrive by making grants and cknnations thrgughout the year. The Trustees. havlng regard to the public benefit guidance published by the Charity Commission in accordan¢e with Section 17 of the Chariries Att 201 I, ton5ider thac rhe purpose and activities of the charity Satisfy the requirements of rhe public benefit test set out in secuon 4 of the sarne acL Achlevements and performance The ¢rusrees' overnll invesrmenc objettNe Is w maintasn a multi-as$er porcf0l￿S and achieve a balance of income and captil growch. RecipieTrts of grants are identrfied and seletted by the Tru5tee5, who meet on a regular basis to discuss the charity, application of funds. Once all Trustee5 are in tgreement as to the nature and Size of grants. these are rnad¢ according to the Trustees, instruttions. The charity does not respond to unsolicited requests for funding. D￿rIng the ye¥ rotal g*ft5 to the End?wm¢nc fund of I1,575,00012021 £525,000) were received. Total 8ifts to the Unr¢stricred fund were £1.575,329 {2021 £525,000). Donatw)n$ arnounting to £834,80412021 £242,875) were committed to by the Trustee5. Donations included significant support of borh local and &obal charitable in5titutl0ll5 5UPPtsrting a wide range of causes. a5 shown on page 12 of these accounts. FIna￿la1 review and risk management Investments at the year.end had a market value of £15,073.055 Q021 £12.625,810). an Incr￿$¢ of 19.4%12021 iTrcrea¥e of 30.4%>. Endowment funds stand ac £15,948.092 12021 £13.368,847) and Unre5tritted funds are currently £3.192.447 (2021 £2.059.092}. The Endowmenr funds are. in accordance with the Trusr Deed. expendable endowment fund$ created by ongoing grfrs. and the Unresrritted fvnd5 are the funds used to finance the ¢harw's charitable a¢tivitie$. It 1$ the Trustees. policy to distribure incorne as soon as practical after receipL However, rf suitable charrcies or charitable purposes to support cannot be identified. the Trustees will retain reserves until sueh time as suitable charities or charitable purposes can be identrfied. The Trustees have idenrrfied the majtsr risk to the ¢harity as a fall in incoming resources. The risk has been revlewed and 1$ deerned low likelihood and impact The Trustees manage this risk by maintaining substantial resources In the Endowment fund of the £harity. THE BROOMTON FOUNDATION TRUSTEES ANNUAL REPOR T Year ended 5 April 2022 Trusteès. Msponsibilltles In relation to the financlal statemèftts The Trustees are responsible for preparing the Trustees, Annual Report and the financkil stac¢rnents in accordance with aPpli￿bIe law and UnlTed Kingdom Accounting Standards (Uniced Kingdom Generally Acceptsd Accountlng PractKel. The law applicable to (haricies in England and w￿eS requires the thariry Trusrees to prepare financial statement5 for each year which give a true and fair view of the state of affairs of the chariry and of the incoming resources and application of resource5 of the chariry for that period. In preparing the finanelal statements, the Tru$tees are required to: select Suitable ac¢ounting policies and then apply them ¢¢nsi5tendri observe the methods and principle5 in the applicable Chariries SORP: makt judgements and tsrimaces thai are reasonable and pruden¢ srate whether applicable accounting srandard5 have been followed, $ubject to any material departures that must be disclosed and explained in the financiil statements.. and prepare the financial srattments on the going concern bas￿ unless it is inapproprrdte To presurne that the charity will continue in business. The Tru$tee5 are responsible for keeping proper a¢counEing reeord5 that disclose with reasonable accuracy at any time the financial po$irion of the charity and to enable them to ensure that the financrdl statements tomply with che Charicies Act 2011, the applicable char￿leS {Accounrs and Reports} Regulations, and the provisions ol the Trust Deed. They are also responsible for safegu2rdin8 the assers of the charity and taking reasonable steps for the prevention and detection of fraud and tsther irregu12riries. So far as each Tru$Eee is aware, there ￿ no relerdnr audit inforrnatioa of which the charicy's audFtors are unaware. Each Trus￿¢ has taken all reasonable steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit informatK)n and w esublish that the chariy's auditors are aware of thar information. By order of the Tru5tee5 CHAMBERLAIN Tru 2J"rdJ 2023 THE BROOMTON FOUNDATION AUDITOR'S REPOR T Year ended S Aprll 2022 Independent Audito￿$ Report to the Trustees of The Broomton Foundation Opinlon We have audited the financial statements ol The Broomton Foundation Iche 'char￿1,) for the year ended 5 April 2022 which comprise the sratement of finan¢ial attNltie5, balance sheeL Statement of cashflows and notes to the financial sraterntnts, including a summary of signrfi¢anc ar¢ounting policies. The financial reporEing frarnework that has been applied in their preparation 55 applicable law and United Kingd¢m Accounting Scandards, including Finantial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland (United Kingdom Gener￿lY Accepted Attountyng Practice). In our oplnion, the ftnancI￿ statements: ve a true and lair view of the $tace of the charity's affair5 as at 5 April 2022 wd of its incomiThg resources and application of resource5 for the year thefj ended., have been properly prepared in accordance with United K>ngdom Ger*erally Ac¢epted Accountin8 Practtee. and have beer* prepared in accordance wlth the requirtments of che Charit¢¢s kt 2011. Basls for oplnlon We condutted our audii in accordance with International Stsndards on Auditing (UK) IISAS {UK}l aTrd applicable law. Our re5pon5ibilities under those scandards are further described in the Aud￿or.5 responsibilities for the audit of the fin2nci*l stacernents settion of our r¢poru W¢ are independent of the Charity in accordanc¢ with the ethical requirements that are relevant to our audir of the financi￿ Str￿ments in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance w￿h these requirements. We believe that the audit evidence we have obtained is sufficienr 2nd 2ppropriate to provide a basis for our opSnion. Concluslons rnlatin8 to going concern In audiong the financial statements. we have concluded that the trustee's u$e of the going concern basis of ac¢¢unting in the preparation of the financiil statemerlts is appropriate. Based on the work we hav* perftsrmÈd, we have not identrfied any mater&al uncertainties relating to events or conditions tha¢ individually or colleccively. may c2St significant doubt on rhe charity's ability to continue as a going concern for a perv)d of at least rwelve monrhs from when the financial ststement5 are authorised for issue. Our re5pon5ibilitie5 and the responsibilities of the trustees with respert ro going concern are described in the relevant settions of this report Other inforniation The other infom)wgn cornprise$ the informauon included in the annual repoo other than the financial statements and our auditor's report thereon. The trustee5 are responsible for rhe other inforrnation. Our opinion on the financi Statements does not cover the other informarion and we do not express any form of assurance conclusion thereon. In connection with our audii of the financial Statements. our responsibility is to read the other informatyon and, in doing so. consider whether the other information is materially inconsistent with the financi￿ statements or our knowledge obtained in the audit or cstherwise appears to b¢ Materi￿lY missrated. If w¢ identty such material inconsistencies or apparent material mYAstatements, we are required to determine whether there is a materi missratement in the financial statements or a Ma￿ridE mi5Statemenc of the other information. If, based On the work we have performed. we eonelude rhat there is a rnatÈrial misstatement of this other informatiors. we are required to report that fact. We have nothing to report in this rerdrd. THE BftOOMTON FOUNDATION AUDITOR'S REPOR T Year ended 5 April 2022 Matters on whlch we are requlred to r•port by exception We have nothing to reporc in respert of the followlng matters in relation to which the Charit*s {AccouTrts and Reporrsl Regularion5 2008 require u5 to report to you rf, in our ¢pinion.' the information b4ven In the financlal $ratements 15 iTrconsistent Sn any material re5pett with the trustees reporu or sufficient accounting records have not been kepL' or the financi￿ sraternents are not in agreement wtth the accounting rttords,. or we have not received all the information and explanation$ we rtquire for our audit Re$ponslblllt1¢5 Of truste¢s As explained more fully in The tru5tees' responsibilities staternent set out on page 4. the rrustee5 Ire responsible for the preparation of the financial $rarements and for being satisfied that they give a true and fair view. and for such internal control as the trustees derermine 1$ necessary to enable the preparation of financial statsments that are fret from material mis5taternenE whether due to fraud or err¢)r. In preparing the fin2ncia statsments. the trustees are responsible for assessing rhe charity's abilw to continue as a going coneern. disclosing, as aPpli￿ble. rnatters related to going ¢oncern and using the going Concern basis of accounting, unle$s the trustee5 either iniend co liquidate the charity or to eease operations, or have no realistic alternative but to do so. Audlto*s responslblllties for the audit of the finantial statements IrregUlar￿leS. including frdud, are in$tan¢e$ of non.complian¢e with laws and regulaoon5. We design procedures in line with our responsibilitie5, Outlined above. to detett material misstarements in respect of irregularicies, iEtcludin8 fraud. The ¢xtrnt to which our procedur¢$ are ¢apable of dececring irregularities. including fraud 15 detailed below.. We gained an under5tsnding of the legal and regulatory frarn¢work applicable to the chirity by considering, amongst other things. the $e¢tor in which it operates, and constdered the risk of 2cr$ by che ¢hariry that were contrnry to applicable laws and regulacions. including fraud. We designed audit procedures to respond to the 2ssessed level of risl but reco8ni5ed that the risk of not detecting a material mi5Statement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may invO￿e ijeliberdte concealrnent by. for exarnple. f¢ryery or inrenrional misrepresentations. or through collusio)n. We foeu5ed on laws and regulations whieh could gfve rlse to a materi￿ misstatement in the financ￿1 sratsments. including, bur not limited to UK Charity Law. As in all our audits. we also addressed the risk of rnanagemenr ov¢rrlde ¥f 1Trtern￿ controls. includiTrg testing journa15 and evaluating whether there was evidence of bbas by management that represented a risk of material misstatement due 10 fraud. There are inherent limitations in che audit procedures described above and, the further removed non-compliance with laws and regulations is frorn the events 2nd rransactions reflected In the financ￿11 sratemenrs, the less likely we would become awar¢ of IL We did not identfy any key audit matters relating to irregularities. including fraud. A further deseriprion of our responsibilities for the audit of the financial 5¢2tements is located on the Financial Repordng C¢)un¢ll's w¢bsi¢e IL www.frcJ)r8.ukJaudiEorsresponsibilityes. Thls descriptlon forrn5 part of our auditor's reporL THE BROOMTON FOUNDATION AUDITOR'S REPOR T Year ended 5 April 2022 Use of our report This report is made solely to the chariry's crustees. a5 a body, in accordance with regulations made under settion 154 of the Charriies Acc 2011. Our wdlr work has been und¢rraken so that we mighc state to the ¢harity'5 trustees those matters we are required co srate to them In an auditor's report and for no other purpose. To the fullest extent p¢rmitted by law, we do not accept or assume responsibility to anyone other than the charity and the char￿Y'S trustees as a bodyb for our aud￿ work, for this reporL or for the opinions we hav¢ forrned. Dixon Wi150n Audic Services LLP, Stsrufory Auditor 22 Chancery Lane London WC2A I LS Date". 2 February 2023 Dixon Wil$on Audit Setvl¢es LLP is eligible to att as an auditor in rerm5 of $ection 1212 of the Compani*s Act 2006. THE BROOMTON FOUNDATION ST A TE M E NT O F F I NA N C IA L ACT IV I TI ES Yèar ended 5 April 2022 Not¢ Unrestricted Endowment fund5 funds 2022 2022 Tot￿ Vnrestrlrted Endowment funds funds funds 2022 2021 2021 Totsl fvnd$ 2021 Incorn• from: DonAiion5 and legatits Investment income . Bank interest D￿lden4 intomt - Other Income 1,575,329 1.575.000 3.150.329 525.(W 525.LW 1.050.IX 1.911 357,447 11,474 1,911 357,417 11.474 395,002 14,CM)I 395.002 14,001 410,177 410.177 370.832 370.832 Total income 1.985,506 1,575.OW 3,560,506 895.832 525,(kXI 1,420,832 ExpendFturè on: Charttable aCtiV￿e$ 18511511 18511511 18511511 18511511 (254,986) (254,986) (254,986) (254,986) Total expendi¢ur• Nei OTr fiTraftci asset5 1,004,245 I,(M)4.245 2,417.508 2,417,508 Net Income 1.133.355 1579.245 3.711600 640,846 2,941,5￿ 3.583.354 Net movemeblt In funds 1,133,355 1579,245 3.711600 2,94Z508 3,583,354 Retonciliation of funds.. Funds brought fts Funds carried fonvard 2.059.092 13,36B,847 15.427.939 1.414246 10.426.339 11,W,$8S 3.192.H7 15.948,092 19.140.539 2,059,092 13,308,847 15,427,939 THE BROOMTON FOUNDATION BALANCE SHEET At 5 Aprll 2022 Note 2022 2021 Fixed assèts Investments 15,073.055 12.625,810 Current assets Cash at bank and in hand Debtors 4,104,577 108,427 2.930.741 95.938 4,213.Cl)4 3.026.679 (224.550) 2.802.129 Credltors: amounts falllng due within one year Net Current agsets {145,5201 4.067,484 Net asset5 19.140,539 15.427,939 The funds of the charity. Unre$cricted funds Endowment fund5 3.192.447 15,948.092 2.059.092 13,368.847 19,140,539 15.427,939 The financial STa￿rnents on page5 8 to 14 were approved by the Trustees on on their behalf by.. 2023 and $igned R H CHAMBERLAIN K E LEWIS ech￿& B CHAMBERLAIN J F CHAMBERLAIN THE BROOMTON FOUNDATION ST A TEMENT OF CASH FLOWS Year ended 5 April 2022 2022 2021 Net movement In fund5 3.712.600 3,583,354 Less.. income from invesrments 1409,0031 {1,004,2451 (368,921) .417,508) (1.911) (50.652} 744,362 Le5s.' g2in$ on investments Less.. interest receivable Decrease in ¢reditors 179,0301 2,219.148 Net ¢￿h generated from operating activitiès Cash flow5 from invesrin¥aCtivit￿S.' Dividends. rebat¢5. and interest Purehase of investments 397,688 366.767 11.443.000) 11,045.3121 (S25.0￿}) {158233) Net cash used in invest5n8 actlvities Change in Cash and cash equivalents Cash and cash equival¢nr5 brought forward Cash and cash equivalents carried forward Ipage 91 1.173,836 586.129 2.930,741 2.344,612 4.104,577 2,930,741 10 THE BROOMTQN FOUNDATION NOTES TO THE FINANCIAL ST A TEMENTS Year ended 5 Aprll 2022 Accounting pollcies Summary of slgnlflcant accounting policles and key actounting estlmates The principal ac¢¢unuThg po15cies applied in the preparat￿￿ of these financval 5tatsments ￿ sec out below. These policies have been consistendy applied to all the ye¥$ presented, unless otherwise stated. Basi5 of preparatlon The financial 5ratements have been prepared under che historical cost convention with items recogni5ed at cost or transaction value unless otherwise stated in che relevznt notes to these accounts. The financial statements have been prepared in a¢ef)rdance with rhe STa￿menC of Retommended Practice- Accounting and Reporting by Charities preparing their 2CCOUnts In accordance with the Financial Reporting Standard applicable in the Uni¢td Kingdom and Republic of Ireland IFRS 102} issue¢Y ¢n I january 2019 and the Charities Att 2011. The Trust Constitutes a publi¢ benefrt entity as defined by FRS 102. Going Concern The Trustee$ ¢onsider that there are no mat¢rial unteryaintie5 about the Trust's ability to ¢ondnue as a goin¥ concern, aad that there are no key assurnptions that affect rcems in th¢ x