THE BROOMTON FOUNDATION REPORT AND ACCOUNTS YEAR ENDED 5 APRIL 2025
Year ended § April 2025
THE BROOMTON FOUNDATION
INDEX
| Year endedended § April 2025 | Year endedended § April 2025 |
|---|---|
| LY | |
| Page | |
| General information | 2 |
| Trustees’ annual report | 3 |
| Auditor's report | 5 |
| Statement of financial activities | g |
| Balance sheet | 9 |
| Statement ofcash flows | 10 |
| Notestothefinancialstatements | 11 |
|
THE BROOMTON FOUNDATION
GENERAL INFORMATION Year ended 5 April 2025
en Established by deed 6 April 2008 | Charity number 1125386 | Trustees B Chamberlain J F Chamberlain RH Chamberlain K E Lewis Principal office Providence House 141-145 Princes Street Ipswich Suffolk IP1 1QJ Trust summary The charity was established in the United Kingdom by a deed dated 6 April 2008. The income and capital of the Trust is held by the Trustees for such charitable purposes as they think fit. Up to 5 April 2021 £12,568,127 was gifted to the Trust. On 22 December 2021 £1,443,000 was gifted to the Trust. On 4 January 2022 £1,707,000 was gifted to the Trust. On 22 December 2023 £1,900,000 was gifted to the Trust. On 24 December 2024 £2,300,000 was gifted to the Trust. Bankers C Hoare & Co 37 Fleet Street London EC4P 4DQ Investment advisors CCLA Investment Management 1 Angel Lane London EC4R 3AB Auditor Dixon Wilson Audit Services LLP 22 Chancery Lane London WC2A 1LS
2
THE BROOMTON FOUNDATION TRUSTEES’ ANNUAL REPORT Year ended 5 April 2025
The Trustees present their annual report and accounts for the year ended 5 April 2025. The accounts comply with current statutory requirements and are in compliance with the relevant provisions of the Charities Act 2011, the Trust Deed, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The report should be read in conjunction with the general information provided on page 2.
Administrative information
The Broomton Foundation is a charity registered with the Charity Commission, registration number 1125386. It is governed and constituted by a Trust Deed dated 6 April 2008.
Structure, governance, and management The Trustees who have served during the year are those shown on page 2. The power of appointment of new Trustees is vested in the current Trustees in accordance with the terms of the Trust Deed. New Trustees are thoroughly briefed by the existing Trustees on appointment to their posts.
- Objectives and activities for the public benefit
The object of the charity, as set out in the Trust Deed, is to provide financial support to such charitable purposes or charitable institutions as the Trustees in their absolute discretion select. The charity's only activity is fulfilling this objective by making grants and donations throughout the year. The Trustees, having regard to the public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same act.
Achievements and performance
The Trustees’ overall investment objective is to maintain a multi-asset portfolio and achieve a balance of income and capital growth. Recipients of grants are identified and selected by the Trustees, who meet on a regular basis to discuss the charity’s application of funds. Once all Trustees are in agreement as to the nature and size of grants, these are made according to the Trustees’ instructions. The charity does not respond to unsolicited requests for funding.
During the year total gifts to the Endowment fund of Enil (2024 - £nil) were received. Total gifts to the Unrestricted fund were £2,301 ,243 (2024 - £1,901,121). Donations amounting to £3,314,509 (2024 - £180,044) were committed to by the Trustees. Donations included significant support of both local and global charitable institutions supporting a wide range of causes, as shown on page 12 of these accounts. During the year ended 5 April 2023, a significant grant was awarded to the Maggie Keswick Jencks Cancer Centres Trust (Maggie’s). Maggie’s is an independent charity outside of the NHS that specialises in cancer care, providing emotional support and practical advice. The grant is payable in three instalments of £1,000,000 following completion of key milestones. The first milestone was the granting of planning permission which was achieved on the 25 April 2025 and the first instalment of £1,000,000, which was paid on 28 April 2025, has been recognised as a creditor in the accounts. The remaining £2,000,000 has been recognised in the accounts as a provision due to the uncertainty of the timing of completion of the remaining milestones, which are detailed in note 12.
3
THE BROOMTON FOUNDATION TRUSTEES’ ANNUAL REPORT Year ended 5 April 2025
Financial review and risk management investments at the year-end had a market value of £16,350,995 (2024 - £16,393,581), a decrease of 0.26% (2024 — increase of 7.7%). Endowment funds stand at £16,350,995 (2024 - £16,393,581) and Unrestricted funds are currently £4 ,438,250 (2024 - £5,757,699). During the year, the trustees agreed to transfer £1,000,000 from the Unrestricted fund to the Endowment fund for long term investment. The Endowment funds are, in accordance with the Trust Deed, expendable endowment funds created by ongoing gifts, and the Unrestricted funds are the funds used to finance the charity's charitable activities. it is the Trustees’ policy to distribute income as soon as practical after receipt. However, if suitable charities or charitable purposes to support cannot be identified, the Trustees will retain reserves until such time as suitable charities or charitable purposes can be identified. The Trustees have identified the major risk to the charity as a fall in incoming resources. The risk has been reviewed and is deemed low likelihood and impact. The Trustees manage this risk by maintaining substantial resources in the Endowment fund of the charity. Trustees’ responsibilities in relation to the financial statements The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales Wales requires the charity Trustees to prepare financial statements for each year which which give a true and fair view view of the the state of affairs affairs of the the charity and of the the incoming resources and application of resources resources of the the charity for that that period. In preparing the financial statements, the Trustees are required to: - select suitable suitable accounting policies and then then apply them them consistently; - observe the methods and principles in the the applicable Charities SORP: - make judgements judgements and estimates that are are reasonable and prudent: - State whether whether applicable accounting standards have been followed, subject to to any material departures that must be be disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the the charity will continue in business.
The law applicable to charities in England and Wales Wales requires the charity Trustees to prepare financial | statements for each year which which give a true and fair view view of the the state of affairs affairs of the the charity and of the the incoming resources and application of resources resources of the the charity for that that period. In preparing the financial statements, the Trustees are required to: - select suitable suitable accounting policies and then then apply them them consistently; - observe the methods and principles in the the applicable Charities SORP: - make judgements judgements and estimates that are are reasonable and prudent: - State whether whether applicable accounting standards have been followed, subject to to any material departures that must be be disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial | | statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for Safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as each Trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware. Each Trustee has taken all reasonable steps that they ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and to establish that the charity’s auditors are aware of[that][information.]
By order of the Trustees
\ 0 ES BS = B CHAMBERLAIN Trustee 22%—| 2026
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THE BROOMTON FOUNDATION AUDITOR’S REPORT Year ended 5 April 2025 sliceie ae aarti eats een a ee independent Auditor's Report to the Trustees of The Broomton Foundation Opinion We have audited the financial statements of The Broomton Foundation (the ‘charity') for the year ended 5 April 2025 which comprise the statement of financial activities, balance sheet, statement of cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: e give a true and fair view of the state of the charity's affairs as at 5 April 2025 and of its incoming resources and application of resources for the year then ended: e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and e have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
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THE BROOMTON FOUNDATION AUDITOR'S REPORT | Year ended § April 2025 ee a Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: e the information given in the financial statements is inconsistent in any material respect with the trustees report;or e sufficient accounting records have not been kept; or e the financial statements are not in agreement with the accounting records; or e we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees’ responsibilities statement set out on page 4, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going3 concem basis of accounting, unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. | Auditor’s responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We gained an understanding of the legal and regulatory framework applicable to the charity by considering, amongst other things, the sector in which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the assessed level of risk, but recognised that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to UK Charity Law. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.
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Datce c e sesepeenspecccepessesesss... 28 January 2026
THE BROOMTON FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
Year ended 5 April 2025
| Year endedended 5 April 2025 | Year endedended 5 April 2025 | Year endedended 5 April 2025 | Year endedended 5 April 2025 | Year endedended 5 April 2025 | Year endedended 5 April 2025 | Year endedended 5 April 2025 | Year endedended 5 April 2025 |
|---|---|---|---|---|---|---|---|
| a | |||||||
| Note | Unrestricted funds 2025 |
Endowment funds 2025 |
Total funds 2025 |
Unrestricted funds 2024 |
Endowment funds 2024 |
Total funds 2024 |
|
| £ | £ | £ | £ | £ | £ | ||
| Income from: | |||||||
| Donations and legacies | 2,301,243 | - | 2,301,243 | 1,901,121 | - | 1,901,121 | |
| Investment income -Bank interest - Dividend income -Otherincome |
217,078 485,564 17,424 |
~ - 7 |
217,078 485 564 17,424 |
127,305 448,059 15,636 |
- - - |
127,305 448,059 15,636 |
|
| 720,066 | - | 720,066 | 591,000 | - | 591,000 | ||
| Total income | 3,021,309 | - | 3,021,309 | 2,492,121 | - | 2,492,121 | |
| Expenditure on: | |||||||
| Charitable activities | 2 | (3,340,758) | - | (3,340,758) | (198,877) | - | (198,877) |
| Total expenditure | (3,340,758) | - | (3,340,758) | (198,877) | - | (198,877) | |
| Net (losses)/gains on financial assets |
4 | - | (1,042,586) | (1,042,586) | - | 1,177,103 | 1,177,705 |
| Net(expenditure)/income | (319,449) | (1,042,586) | (1,362,035) | 2,293,244 | 1,177,705 | 3,470,949 | |
| Interfund transfer | 8 | (1,000,000) | 1,000,000 | - | - | - | - |
| Netmovement in funds | (1,319,449) | (42,586) | (1,362,035) | 2,293,244 | 1,177,705 | 3,470,949 | |
| Reconciliation offunds: | |||||||
| Funds broughtforward | 8 | 9,757,699 | 16,393,581 | 22,151,280 | 3,464,455 | 15,215,876 | 18,680,337 |
| Fundscarriedforward | 8 | 4,438,250 | 16,350,995 | 20,789,245 | 5,757,699 | 16,393,581 | 22,151,280 |
The Statement of Financial Activities includes all gains and losses for the year. All income and expenditure derive from continuing activities.
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THE BROOMTON FOUNDATION
BALANCE SHEET
At 5 Apnil 2025
| Note | 2025 | 2024 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Investments | 4 | 16,350,995 | 16,393,587 |
| Current assets | |||
| Cash at bank and in hand | 7,459,491 | 5,690,783 | |
| Debtors | 5 | 126,553 | 149,535 |
| 7,586,044 | 5840,318 | ||
| Creditors: amounts fallingduewithin one year | 6 | (1,082,794) | (82,619) |
| Net current assets | 6,503,250 | 5757,699 | |
| Creditors: amounts fallingdueafteroneyear | 7 | (65,000) | ‘ |
| Provision for liabilities | 12 | (2,000,000) | ‘ |
| Netassets | 20,789,245 | 22,151,280 | |
| Thefunds ofthe charity: | |||
| Unrestricted funds | 8 | 4,438,250 | 5,757,699 |
| Endowment funds | 8 | 16,350,995 | 16,393,587 |
| 9 | 20,789,245 | 22,151,280 |
The financial statements on pages 8 to 15 were approved by the Trustees on 23 Sarweyy 2026 and signed on their behalf by: R H CHAMBERLAIN | KE LEWIS OE Oe B CHAMBERLAIN Kita c. b eal Qwunr ae J F CHAMBERLAIN Joel a rae Fe
sneee lll
THE BROOMTON FOUNDATION
STATEMENT OF CASH FLOWS
Year ended 5 April 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|ane eee|eC|ee|Le|Re|
|2025|2024|
|£|£|
|Net movement|in|funds|(1,362,035)|3,470,949|
|Less|income|from|non-operating|activities|(720,066)|(591,000)|
|Losses/(gains)|on|investments|1,042,586|(1,177,703)|
|Decrease|in|debtors|-|198|
|increase|in|creditors|3,065,175|47,283|
|Net cash|generated|from|operating|activities|2,025,660|1,749,725|
|Cash|flows|from|investing|activities:|
|Dividends,|rebates,|and|interest|743,048|555,964|
|Purchase|of investments|(1,000,000)|-|
|Net cash|(used)/generated|in|investing|activities|(256,952)|555, 964|
|Change|in|cash|and|cash|equivalents|1,768,708|2,305, 689|
|Cash|and|cash|equivalents|brought forward|9,690,783|3,385, 094|
|Cash and cash|equivalents|carried|forward (page|9)|7,459,491|5,690,783|
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10
Provisions for liabilities
0 eeeeEeEeEeEeEeEeE——— THE BROOMTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2025 1 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) issued on 1 January 2019 and the Charities Act 2011.
The Trust constitutes a public benefit entity as defined by FRS 102.
Fund accounting policy Unrestricted funds are general funds that are available for use at the Trustees’ discretion in furtherance of the objectives of the charity. The charity has an endowment fund created by ongoing gifts. The terms of the endowment allow the capital of the fund to be spent at the Trustees’ discretion in furtherance of the objectives of the charity Going concem The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern, and that there are no key assumptions that affect items in the accounts. Income recognition All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Donations and legacies are recognised when the charity has been notified in writing of both the amount and the settlement date. Dividends are accounted for on an ex-dividend accruals basis. Interest on deposits and fixed interest securities are accounted for on an accruals basis.
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. This is accrued once the recipient has been notified of the grant award.
A provision is recognised when the charity has a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and either the timing or the amount of the obligation is uncertain. The amount recognised as a provision is the best estimate of the expenditure required to settle or to transfer the obligation to a third party at the reporting date. Provisions are discounted where the time value of money is material.
11
THE BROOMTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS
|
Year ended 5 April 2025 i
|
| Vi Accounting policies (continued) |
||||
|---|---|---|---|---|
| Fixed asset investments | ||||
| Investments are a form ofbasic financial instrument and are initially recognised attheirtransaction value andsubsequently measured attheir fairvalue as atthe balance sheetdate usingthe closing quoted — market price. Thestatement offinancial activities includes the net gainsand losses arising on revaluation |
||||
| and disposals throughoutthe year. | ||||
| Functional and presentation currency | ||||
| The financial statementsarepresented inpounds sterlingwhich isthefunctional currency ofthe Trustand | ||||
| rounded to the nearest £. | ||||
| Financial instruments | ||||
| Financial instruments are classified andaccounted for, according to thesubstance ofthe contractual | ||||
| arrangement, as financial assets or financial liabilities. | ||||
| Taxation | ||||
| The charity is exemptfrom taxation under sections 521 to536 ofthe IncomeTaxAct 2007. | ||||
| SERS an Main. As ORYwe ee a or gee aT |
eS | eeeee | eee | |
| 2. Analysis ofexpenditureon charitable activities |
Note | 2025 £ |
2024 3 |
|
| Grants to charitable causes and institutions | 3 | 3,314,509 | 180,044 | |
| Support costs allocated to charitable activities: Sundry Travel and accommodation |
415 4.138 |
422 33 |
||
| Governance costs allocated to charitable activities: | ||||
| Audit Accountancyservices Bankcharges |
8,904 4,800 492 |
9,226 9,000 462 |
||
| Consultancy fees | 7,500 | 24120 | ||
| 3,340,758 | 198877 | |||
| x a Grantsand donations |
2025 | 2024 | ||
| £ | £ | |||
| FareShare | 250,000 | - | ||
| Institute for Philanthropy | 9.000 | : | ||
| Kensington and Chelsea Foundation | - | 10,000 | ||
| Maggie's | 3,000,000 | 10,000 | ||
| Other institutions | 3,870 | 3,380 | ||
| Pop Chorus | 6,639 | 6,664 | ||
| Riding forthe Disabled Association | - | 130,000 | ||
| Seeding Hope | - | 20,000 | ||
| Superkind Education | 45,000 | - | ||
| 3,314,509 | 180,044 |
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THE BROOMTON FOUNDATION
|
NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2025
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SS
4. Investments 2025 2024
£ £
Market value at 6 April 2024 16,393,581 15,215,876
Additions at cost 1,000,000 -
Net (losses)/gains on financial assets (page 8) (1,042,586) 1,177,705
Market value at 5 April 2025 16,350,995 16,393,587
Historical cost 12,251 503 11;201,003
Investments at fair value consists of:
UK unit trusts 16,350,995 16,393,587
Market value at 5 April 2025 16,350,995 16,393,587
less seennsmnseessbssnsns sniesunnoiora scenes sammsig tess dt sk VAs nahi polit en bie int NAS i ret ate Nae oo it
5. Debtors 2025 2024
£ 2
Accrued income 126,553 149, 535
126,553 149,535
SE a NS i I A a a
6. Creditors: amounts falling due within one year 2025 2024
£ £
Accruals 13,000 12,262
Grants and donations payable 1,065,656 70,357
Other creditors 4138 -
1,082,794 82,619
STEUEReA Oe ee eee
y ff Creditors: amounts falling due after one year 2025 2024
£ £
Grants and donations payable 65,000 :
65,000 2
eee
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— . —
THE BROOMTON FOUNDATION NOTES TO THE -PFINANCIAL. STATEMENTS Year ended 5 April 2025
| 8. | Funds analysis | ||||||
|---|---|---|---|---|---|---|---|
| Opening | Unrealised | Interfund | Closing | ||||
| balance | Income | Expenditure | losses | transfer | balance | ||
| £ | £ | £ | £ | £ | £ | ||
| Unrestricted funds Endowment funds |
9,757,699 16,393,581 |
3,021,309 - |
(3,340,758) - |
- (1,042,586) |
(1,000,000) 1,000,000 |
4,438,250 16,350,995 |
|
| Total | funds | 22,151,280 | 3,021,309 | (3,340,758) | (1,042,586) | - | 20,789,245 |
| Funds analysis | - prioryear | ||||||
| Opening | Unrealised | Interfund | Closing | ||||
| balance | Income | Expenditure | gains | transfer | balance | ||
| £ | £ | £ | £ | £ | £ | ||
| Unrestricted funds Endowmentfunds |
3,464,455 15,215,876 |
2,492,121 - |
(198,877) - «414715100 |
- - |
5,757,699 16,393,581 |
||
| Total | funds | 18,680,331 | 2,492,121 | (198,877) | 1,177,705 | - | 22,151,280 |
- Total funds
Total funds at 5 April 2025 are represented by:
| Unrestricted | Endowment | Total | |
|---|---|---|---|
| funds | funds | funds | |
| £ | £ | £ | |
| Investments | - | 16,350,995 | 16,350,995 |
| Cash at bank and in hand | 7,459,491 | - | 7,459,491 |
| Debtors | 126,553 | - | 126,553 |
| Creditors | (3,147,794) | - | (3,147,794) |
| 4,438,250 | 16,350,995 | 20,789,245 |
- Related party transactions
The Trustees incurred expenses related to their services to the charity in the current year that amounted to £4,138 (2024 - £33). At the year-end the Trustees were owed £4,138 (2024 - £nil). The charity had no employees during the year (2024 - none). Aggregate donations received from related parties, of which two directors are Trustees of the charity, without conditions totalled £2,300,000 (2024 - £1,900,000). No further related party transactions requiring disclosure took place during the reporting period.
14
THE BROOMTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS
Year ended 5 April 2025
Os 11. Financial assets and liabilities The following are financial liabilities that qualify as basic financial instruments and are initially recognised at transaction value and subsequently measured at their amortised cost: Financial liabilities 2025 2024 £ £ Accruals 13,000 12,262 Donations/grants payable 1,130,656 70,357 Provision for liabilities 2,000,000 - Other creditors 4,138 - 3,147,794 82,619 The following are financial assets that qualify as basic financial instruments and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price: Financial assets UK unit trusts 16,350,995 16,393,587 16,350,995 16,393,587 12. Provision for liabilities The Trustees have agreed to donate £3,000,000 to Maggie’s to build the Maggie’s Cambridge centre. The first instalment of £1,000,000 was made on 28th April 2025 following the grant of planning permission on 25th Apnl 2025 and has been recognised as a creditor in the accounts. The final two instalments have been provided for in the accounts as they are subject to the completion of the following key project milestones. The second instalment of £1,000,000 is due to be paid once construction has commenced, which is estimated to be in the second quarter of 2026. The third instalment of £1,000,000 is due to be paid upon practical completion of the building works, which is estimated to occur during the third quarter of 2027. 2025 2024 £ £ Opening balance - Amounts charged during the year 2,000,000 - Closing balance at 5 April 2025 2,000,000 - 13. Post balance sheet events In June 2025, the charity increased the second instalment of its pledge to build the Maggie’s Cambridge Centre by £950,000, bringing the total amount payable to £2,950,000. As this condition arose after the year end, it is treated as a non-adjusting event under FRS 102, and no adjustment has been made to the amounts recognised in these financial statements.
15