Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Règlstfrred numb•r: 06852304 Charlty number.. 1129992 The Boparan Charitable Trust {A company Ilmlted by guarantee) Trustees. report and financial statements For the period ended 2 January 2022
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD The Boparan Charitsble Trust IA company Ilmlted by guarantee) Contents Page R•f•r•nco and admlnlstrative details of the Company, Its Trust••s and advlgers Trust••s' r•port Indèp•nd•nt audltor's report on the financial statements 6-10 Stat8ment of Ilnanclal actlvltles Balance sho•t 12 Notes to th• flnanelal stat8m•nts 13-22
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Tho Boparan Charltablo Trust IA company li17iited by guarant••l R•f•r•nc• and adminislrative details of the Company, Its TNstees and adviser3 For the perlod ended 2 January 2022 Trustoes A Bopar8n, Chairman B Boparan Sil K Macdonald Port¢r Company reglBtered numb•r 06852304 Charlty r•glster8d numb•r 1129992 Reglstered office Colmore Court 9 Colmore Row Birmingham 83 2BJ Company s•cmtary A Boparan Independent audltor Granl Thornton UK LLP Chartgred Acwuntants 17th Floor 103 Colmore Row Birmingham Wvesl Midlands B3 3AG Bankers Bank of S¢olland 55 Temple Row Blrmingham B25LS Page 1
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD The Boparan Charftablg Trust IA company limited by guarantee) Trustees. report For the perlod ended 2 January 2022 The Tru31ees PTe$enl Ihelr annual report together with th8 audited fin8nclal statements of the Company for thg perd 4 January 2021 10 2 January 2022. The Annual report serves the puTp05es of both a Trustees. report and dlrectors, report under company law. Th8 Trustees confirm that the Annual report and flnancial statemen15 of th8 ¢h8illabl& company comply with the CUTr8nl Statutory r8qulr8ments. the requirements tsf thè charStable company's governing documonl and the provisions ol the Slatem8nl ol Recommended Practic8 ISORPI applicable to charitses preparlng th81r accounts in accordance wllh the Flnanclal Roportlng Standard appllcable In the UK and Republlc ol Ireland IFRS1021 leffecfjve 1 January 20191. Since th8 Company qualifies as small under 3eclSon 382 of the Companles Act 2006, the Stf8leglc report required of medium and 18rg8 companies under the Companies Act 2006 IStr8tggSc Report and Diredorj, Report) Regulations 2013 has begn omltted. Obl•ctlves and actSvltSes a. Poll¢lo8 and objeetlves Th8 oblèets of the charitable company arè to help chlldren and young people, up lo the ag8 of 18. across England and Wales, who arg dlsadvantAged ellher through poverty, disability or t8rmlnal Illness. The Trustees confirm that they have wferred lo the guldance contalned In the CharSly Commisslon's general guidance on publlG b&nofil whon r8viewing the Trusl's aims and 091Ve$ gnd in planning futur8 activities and settlng the grant making policy for the year. In sethng oblecUv8s and planning for ac¢lvltl&s. tho Trustees have given due consideratbn to g&n&ral guidance publlsh8d by the Charity Commission Tel8llng tc> publi¢ benefit. induding the guidance 'Publi¢ bene1.. running a char5ty IPB2)'. b. Strategles for achl?vlng obJ¢¢tlves These are difficult times and wlth coronavirus effecting our fundralsbng acllvlfje$ wo are looking Into allernafjve fundralsing opwrtunilies to ensure the fulure ol the charlty. We have sel out a progr8m of online events lo replace som& of the events In which our patrons would normally participats in, and will monitor advlce on when 11 Is safe lo carry out fure Ilvo evonts. We will coniinve lo research any FundSng and Grants th81 bécoma available lo the charity. We will continue lo grow our social medla platform8 and mak8 use of the tools they can provlde us foi both fundralslng and awarenes8. c. Actlvltlos undertaken to achl•v• obl•ctlves In 2022 we will rev4ve ¢Jur classlcal annual events, The Bright Star Ball In Nov8mber 2022, Goll C18sslc In September 2022 and Annual Footb811 Toumament in May 2022. We are a150 looking al worklng w51h Asda and Tes¢0 store granls and been awarded £500 Irom Asda earty 2022. d. Main activltles und•rtsk•n to further the Company'$ purpos•s for thè publlc beneflt The objects of th8 charltablo company are to help children 8nd young poople. up lo the age of 18, across England and Wales, who are dlsadvantaged either through poverty, dlsablllty or18rmln81 Illness. The Trus188s confimi that they have referred lo thè guldance contalned in the Charity Commbsslon's general guidance on public benefit whon VIewing Ihe Trust's aims and objeclwes and In plannlng l¢Jture activities and 80ltlng the granl maklng policy for the year. Page 2
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th• Boparan Charltable Trust (A company Ilmiled by guarant¢¢) Trustees. report Icontlnu•dl For th• porlod onded 2 January 2022 Aehl•v•m•nts and p•rformanc• Maln achlevements Dfthe Company The Ifwmlng ro$our¢&s of thg Tru$t for th8 year to 2nd January 2022 amounted to £153.281 (2021.. £295,381), £5,393 {2021.- £3,496) was 8xpended for r8lslng funds. £580,368 (2021.. £684,975) was absorbed by charitable actlvilles Including £9.270 (2Q21.' £22,320J absorbed by gov8rnanc& costs leaving nel incoming lexpondilur&yrosourcè$ for tha year of1£432,4801 (2021.. f£593,090J). A year of adapllon and change for The Boparan Ch8rltabl& Trust. The global pandemlc has meant that we hav had to adapt our way of worklng lo ensure that the Trust can stlll eff8Ctlvbly and efficienlty deal with the appllcatlons 8nd grow awar&ness for the Trust across soclal medla and vlrtual events. Our applications w8re up by 15Yo, this was due to a lol of pgoplè f811ing on hard limes during pandemK and Increas8 In cost of livlng, many d)arilies not accepting applicallons and Ihe NHS wllhdrawlng treatments and th8rapig8 lo focus on the pandemic. A blg locus of ours was to keep our applications op8n and continue to support our beneficiaries. One of OUT aims was to h81p as many children as we could lo get a formal diagno8ls to ènabk them to access NHS servi$ quicker avoidlng NHS walllng list. Throughout the year we have helped 624 Indlvidual children with funding for specialist equipm8nt, essential therBpies foi disBbled children and household nece8$lties to SkJPPOrt familiès in poverty. In addition to Ihis, we provld8d £17.000 worth of food parcels to 1000 famllles that were dlredy suffering duè to tha Impacl of the pandernic lo help cornbal school holiday poverty. We conllnue to grow our onllne presence acTOSS social media ¢h8nn&ls and ara conllnulngly researching new W8ys lo interact wilh our 8udi8nc8 through social media and digital tools. This year we trfalled 8n onllne event the Road lo the Olymplcs whl¢h ral$ed £15,680 Irom corporate sponsors and onllne donallons. A p8rticul8r focus ol ours was lo relaunch out employee givlng scheme lo engagè with new prospective donors and lo malnlaln the current donor8 durlng an uncertaln year for many, part of ihis Improvemen118 to provlde the literalure In dlfferenl language5. HlghlvJhts from the ar werè 60 people ab5eS1ing doym th8 Custard factory raislng £6,878, 52 Golfers al the Belfrey raising £10,000, Virtual London Marathon 6 runners raising £2,444 and the return of our L8dl85 Lunch raising £4,269. Rlchard Chiassaro attended Ihg Paralyfflplc Gamas and helped us raise the trusts awarenesy. W6 would Ilke to acknowledge PD Hooks Group8 conlrlbulion to our wheol¢h8lr donatlons for whSch we are extremely grateful. Page 3
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD The Boparan Charltable Trust (A company Ilmlttd by guarantee) Tru¥t99s' r•port IcontSnuBd) For th• perlod endod 2 January 2022 Flnanclal r•vl•w . Golng concern After maklng 8pproprf8te enquiries, the Trustees h8Vè 8 reasonable expeclalton that the Company has adequate resources to continue In operatlonal exSslence for the for8586able future. For this reason, they ¢ontinue to adopt the golng concern basls In preparing the finan¢lal siatements. Further detsils regarding the adoption of the going concern b8sIs can b8 found in the accounting pollclès. b. R•$orv•s poll¢y 11 Is the pollcy of thè Trusteès to malnlaln the gentrral unreslrlcted funds al a level lo provldè sufflcl•nt funds in reserves lo meel the lulur8 antlclpated demands on the Trust's resources. Having regard lo th& likely levels of Incomlng restsurees and direct charitable expendlture. the Truste85 are sa115fied that tho funds and assets al 2nd January 2022 as r8flecled In the balance sheet are avallable and adequate for th8 Trustees to fulfil the obligations of the ChaTIIy 8nd m8lnt8in its operab'on3. Res8rveg hekl at 2nd January 2022 wgre £1.372.244 (2021.. £1.804.724J. StruetUf•? gov•rnanc• and managernènt Constltutlon The Boparan Charllable Trust15 reglslered as a ¢h8rltsbla company limited by guaranteè and was sel up by a Trust deed. b. Mèthods of appolntment or ?lectlon of Trust••s Th8 management of the Company Is the r08ponsiblllty of the Truslees who 8r6 alocled and cwpted under the term8 of the Trust deed. c. Flnanclal rl¥k rnon8g8ment Havlng regard lo Iho Trust's organisation and actlvllle8. St Is tha vlew of the Trustees that the Tnalor rlsks lo which the Trust may be exposed are largely finanual in nalurts. Systèms of internal control provtde reasonab a5suraMc& 898lnst material mi83talem8nl or lo and they includ8.' R8gul8r rèvlèw of the flnanclal results of fh8 ¢harlty S8gregatlDn of dutles Procedures for the aulhorisalion of all Ir8nsa¢tlons and projects Id8ntlllc8tlon and management or risk8 The Trustees continue to be vigilant and to keep processes under review lo gnsure that the mak)r risks to whl¢h th8 charity Is exposèd are mlugaled. New trustees undergo approprlata orientattDn to brief them on thèlr lègal obllgauons under charity and company law, the content ol the charSlYs trust doed, the decision making proce5585, thè buslness plan and r8cant rinanclal performanc8 of Ihe cha¥ily. Page 4
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th• Boparan Charltable Trust IA ¢ompany Ilmlted by guaranto0) Trusteas. report {contlnuedl For th• parlod •nded 2 January 2022 Tru$t••s' Annual Report The Trustee8 (who ar8 also th8 dlr8Btors of the The Boparan Charltable Trust for thg purpos¢s of company law) are responsible for preparing the Truslge5' report and the financial statements in 8c¢ord8nc8 wlth appllcable law and regulations. Company IBW requlr85 the Tiusle&s lo ppare financial 81atements for 8ach financial period. Under that law the twslees have èle¢led lo prepar6 the flnancial statements In accordance wlth Unltèd Klngdom Generally Accepl8d Accounting Practice (United Klngdom A¢¢ounllng Siandards and appIable lawl, including FRS 102 Th& Flnancial Reporting Standard applicable in th8 UK and Rèpubl1¢ ol Ireland. Under company law th8 Iru$lee$ musl not approve the flnanclal statements unless they ar8 satisfied that th8y glve a true and fair vlew of the state of affairs of the charitable company 8nd of the Incoming resources and applicallon of resources. Including the income and expenditure, of the ¢haTitsbl8 company for Ihat period. In preparing these financlal stslemenls. the INslees are required to.. select 8ultab18 aeeountlng pollcl6s and then apply them conslslenlly, obs8rve the mèthods and prlnclples of the Charities SORP IFRS 1021., make judgements and aecountlng estimates that are reasonable and PTudent'. prep8r8 thè flnandal statements on the going concern basls unless It is inapproprlat8 to presume that the Company wlll contlnuo In business. The Trustees are responsib for keeping adèqu8t6 aecounting records that are sufficient lo show and èxplaln the eharltable CoMpanS transactions and disc108e wllh reasonable accuracy at any time the ffnanclal posillon of the Company and gn8blg thom to ¢nsure that the financial slalem8nls comply wlih th8 Companies Act 2006. They are also responsible for safegu8rdlng the assets ol ihe Cornpany and hence for lakfing reasonable sleps for the prevention and detection of fraud and olhgr irregularllles. The trusl88s are responslblè for the Maintenan and integrity of th6 corporate and fin8nelal Information included on the charitable companys website. Lèglslatlon In the UnSted Klngdom governlng the preparallon and dlsgemSnalon of flnanclal stalemenis may differ from le918LtiOn In oth8rlurlsdlcUons Dlsclosur• of Inforniatlon to audltor Each of the persons who are trustees al the time when th18 TruslèÈg' Report wag approved has conflrmed Ihal.. so far 88 that Trustee18 aware, th•re is no relevant audit information of whl¢h the charStable companys auditor is unaware, and that Trustee ha8 taken all the gtèps that they ought lo have been laktrn as 8 Iwslo8 In order to make themselves aw8r8 of any r8lev8nt 8udlt information and lo establlsh that tho ¢haritsble comp8nls auditor 18 aware of th81 Information. Audltor Tho auditor, Grant Thornton UK LLP, has indical8d Its willlngn¢$$ to conlnue in offlce. The designated Trustee¥ wlll proposa a motlon rèsppolntlng th& audit al a meeting of the Trustèès. Approved by order of the members of the board of Tru81898 and slgned on Ihelr beh8W by.. A Boparan (Chair nf Triiqtpp.-*l Date 14 July 2022 Page 5
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th• Boparan Charltablo Trust IA company Ilmlt•d by guarantee) Indep?ndent audltor's r•port to tho m•mb8rs of Tho Boparan Charitable Trust Oplnlon Wè hav8 audltad tha flnoncl81 st8t6m&nts of The Boparan Charitablg Trust Ilhe 'ch8ritable CompanVI for tho period ended 2 J8nuary 2022, Ythich comprlse Statemenl of Financial Actwilies (Incorporatng th8 irEcorn6 and expenditure account}, and notes to the financlal s181oments. Including a summary of significant accounllng pollcles. The financial reporting framework that has been applied In th¢ir preparalSon Is appllcable law and Un5ted Kingdom kncounting Stsndards, including Flnanclal Rsporting Standard 102 'The Financi81 Reporting Standard applicable in the UK and Republic of Ireland. Iunlled Klngdom Generally Accepted Accounllng PraGtlcel. In our opinlon, thè ffin8nclal st8tsm8nts= give a true and fair view of the slate of the charll8ble companls affalrs as at 2 January 2022 and of Its incoming resources and application of resources includlng, its Income and expendlture for Ihe perlod then ended- have been prop8rty prepared in accordancè vAth Unlled Kingdom Generally Accepted Accounfjng Practice., and hav8 been prèpared In aceordance wllh the requiremenls of the Companie8 kn12006,' and Bas18 for oplnlon We have beèn appolnl8d a8 audllor und8r thè Comp8nl8s Act 2006 and report In accordanc8 wllh règulallon8 made under that Act. We conducted our audit in accordance wlth Internallonal Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under thos8 stsndards are further deseiibed in the'Audllorfs Tespon81bllllies lor the èudlt of the flnanclal stalemenls seclSon' ol our rewrt. W8 aro Indepondtrnl of the charitable cornpany in accordance with Ihg glhical rgqUlfem8nls that are relevant lo our audit of the fin8n¢ial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethlcal respon3ibilitl88 In accord8nc8 with these requirements. We believe that the audit evklgncg we havg obt8in¢d Is Sufflent and appropriate to PTovidg a basls for our oplnS0n. Con¢luslons r•lotlng ¢0 golng ¢on¢grn We are r88pon8ible for concludlng on the approprlatèness of the directors, use of the going concern basis of accounllng and, based on the audit evidence obtained. wheth8r a matèrlal uncèrtainty exists related lo events or condltlons that may casl significant doubl on the charitable Compan18 ablllty lo ¢ontSnue as a golng concern. If we conclude that a molerlal unc8rtalnty exlsts, we are requlred to draw allenllon In our r8POrt lo Ihg rolated disckjsures in the financial slalernenls or, if such d15closures are inadequate, to modify the auditor's opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. Howevw. fLtlure evenls or condltlons may cause the charltable Company lo cease lo conllnue as 8 golng con¢em. In our evaluation of the Iruslees, concluslons. wè ¢on8ld&red the Inherent rlsks assodated wlth the charltab Companls buslness model Includlng effects arlsing from Tnacro-economl¢ un¢ortalnties such as Br6xll and Covid-19, we as59$58d and Challenged the r6asonableness of eslimales made by the Trustees and th8 r81oted disclosures and analysed how those rf5ks mlght offect the eharflablÈ Companys financial resources or ability lo ¢ontinue operat)nS over the going concern p8riod. Pa6
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th• Boparan Charltable Trust {A company Ilmlted by guaranteel Indepond8nt Judltor's r•port to th• m•mb•r$ of Th• Boparan Charitable Trust {¢ontinuedl Based on the work we have performed, we have nol identified any matèrfal uncertainties relating lo evènts OT condltlons Ihat, indivkjually or collecb'vely, may cast significant doubl on the charlloble Company'8 ability lo continue as 8 golng ¢oncern for a period of at least iwelve months from when Ihe financial slalemenls are aulhori8ed for i3sue. In audltlng the financlal sialemenis, we have concluded that the directors, use of Ihe golng concem basis of accounting in the preparation of thg fin8ncial staiern8nts Is appropriate. Thg r8sponslbllStlès of the trusiees wlih respect to golng concem are described in Ihe'Responslbili1198 of Irustges for the financlal ststèmènts, sèctlon of thls report. othor Informatlon Th8 tru81998 arg rgsponsSbla for th8 othèr Inform8tlDn. Thè olher Informailon comprlses th8 informauon included in the Trustees, Annual Report, other than the f5nancial ststefflgnts and our aLklitor's ieport Ihereon. Our opinion on the financial statements does not cover the other informallon and, ox¢ept lo the exlenl OtheIse expllcltly ststed In our roport. w¢ do nol expross any form of assurance conclusion Ihereon. In connection with our audSt of the financ181 statements, our responsibility is to read the other information and, i doing so, consBJer whether (he olh8r infoTrn31ion is mated8lly Inconslstonl wllh the ffnancial statements or our knowledge obtained in the audit or otherwise appears to be materially mlsststed. If we Identlfy such materi81 Incons15tencies or apparent materlal mlsstatements, we are required lo deteTmlne whether there Is a mal8rial misslalemenl in the financi818lalgments or a ma19ri81 mis5tat6mènt of the other Information. If, based on the work we have performed, we conclude that there is a materi81 MSs$latsmgnt of thi$ other information. we are requlred to report Ihat fact. We have nothing lo report in thls regard. OpinionB on other mattèrs pr•serlb•d by thè Companl•s Act 2006 In OUT opinion, ba8ed on th8 work und8rtak8n In tho eoursè of thè audll.. the Information given in the Strategic Report and the Oirectors, Report, pr8par&d for the purpos88 of company law. included In the Trustees. Report for the tlnanclal perlod lor whlch the flnanclal 8tal&m&nls are prepared Ss consistent wllh the finandal statements. the Strategic Report and the Directors, Report included In the Twslees, Report have been prepared In accordance with applicabb legal iequirements. P8gg 7
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th• Boparan Charitable Trust IA company Ilm5ted by guarnnteel Independent auditor's report to th• m•mbers of The Bopargn Chorliable Trust {¢ontinuedl Mattgr on whleh w• ar• requlred to report under the Companl•s Act 2006 In the Ilghl of thè knowl&dge and understanding of the tharitgb18 company and its environment obtalnèd In the COUTse of the audit, we hav8 not Identlfled material misststements in tho Slrateglc Report or the DlrecloT8' R8POrt Included in the Trustees, R8POrt. Mattors on vthlch we are requlr•d to r•port by oxcepllon Wg have nolhlng lo report In respect ol tha followlng mallers In relation lo which th8 Companies Act 2006 requirey u8 lo report to you If. In our opinion-. adequate accounllng records havo not bgen k&pt, or r8lurn5 adequalg for ¢yJr 8udlt have not been recelved from branches not vislted by us., or the financial statements 81• not In agreement wllh the accounllng records 8nd relLtrns'. or certain disclosures of Trustees, remuneration speclfled by law arè not made,. or we have not received all the informallon aThl explanations we require for OUT audlt.. or the Iruslees were not gntitled to pr8pare the financial statements in accordance with the small companles regime and lake advantage of the Small ¢ompanies exemption from thg requirement lo prepare a slraleglc raport. R•sponslbllltles of dlre¢tors for the flnanclal ¥tat•ments A8 explained more fully in the TTuslee8' r08pons5billlles statement, the trustees (who 8re also th6 directors of the harlt8blfr company for the purposes of company lawl aré responslble for the preparation of the flnancAal sialemenls and for being $8tisfiad that they give a true and fair view, and for such internal control as the Irustetr$ determine is necessary lo enabl8 th& prèparalon of finandal sla18ments that a free from matsrial mlsslal8mont. whether due to fraud or error. In preparlng the flnanclal statemen15. the trustees are re8ponsSble for assesslng the charilalAe companvs abillty to continue as a golng ¢onc8rn. disclosing, as applicable, matters T81at8d to going concern and using th9 golng concern basis of accounting unless the Iruslees either intend lo Ilquld819 th8 eharStable company or lo ceaso operat4ons. or hove no realistic allelnalive bul lo do so. AudltoY'¥ rosponslbllltles for the audlt of the flnanclal statem•nt$ Our objective8 are to obtain reasonable assurance about whether the financial slalemenls a3 a who18 8ro free from rnaterbal mlssta18mènt, whèthèr due to fraud or eiror, and to ISSU8 an audilorfs report that includes our oplnk*n. Reasonable assurance is a high 18V810l assurance bul is not a guarantee that an audlt conducted in accordan¢e with ISAS {UKI will aayS detect a rnaleibal misslatemenl when It exlsls. Misstatements can arise from fraud or grror and ar& considered material if, individually or in the aggregate, Ih8y could 3$onaY be expected lo influence thè economlc declslons of users taken on Ihg basls of these finoncial slalements. A further description of our Tesponslbllllles for Ihe 8udlt of the flnanclal statements 19 localed on the Financlal Reportlng Council's wgb51te al.. www.frc.org.ukJaudilorsrfy$ponslbllitles. This description foms part of our auditor's report. PM9& 8
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD The Boparan Charitable Trust IA company Ilmlted by guarants•) Indepgndgnt audltor's report to the mfrmb•rs of The Boparan Charitabla Trust Icontlnu•dl ExplanatSon as to what extent the audit was considered eapabl• of d•t•ctlng Irregularitles. Includlng fraud IFregulari118s. includlng fraud. are Instan$ of non-compliance wllh law8 and regulations. We deslgn procedures In line with our r95ponslbllitlgs, outllnsd above, lo detect materlal misstatements in respg¢t of Irregularltles. Includlng fraud. Owing lo the inherent limitallons of an audit, there is an unavoidable risk that malorlal misst8t8m8nts in the financial ststemenls may not be detected, even Ihtsugh th& 8udlt is prop8Tly planned and performed in ac¢ordanc8 wlth thè ISAS IUKI. Thé èxt8nt to which our procedures are capable of dèle¢llng ITregularillès, Includlng fraud Os detalled below.. We obtalnod an underslandlng of the legal and regulatory fram8works thal are applicable to the charitable ompany. We determined that the following laws and regulations w8r8 most significant.. the Charities Act 2011, th8 Compani8s Acl 2[6. and the Financial Reporting Standard applicable in the UK and the Republlc of Irèland IFRS 102). We understood h(M the charitable ¢omp8ny 1$ ¢omplySng with these legal and regulatory frameworks by making inquiries of management and Ihosg charged with governance. Vve enquired of rnanagem8nt and those charged with governan¢tr whether thera were any instances of non-complianc8 wilh laws and regulations, or whglher they had any knowladga of actual or suspected fraud. We corroborated th8 results of our enquiries through our review of board minuies and through our legal and profe88ional expanses revlew. Wè 8ss&ssed th8 susceplibillty of the charllable company's Ilnan¢l818latsm8nts to malerfal mlsstalernent, Includlng how fraud rntght occur and lh8 rlsk of malerlal overrld& of Controts. Audll procedures performed by the èngagement team included.. Idenlbfying and asses8Sng the dèslgn èff8ctfven&s8 of certain controls managernenl ha5 In plac8 to prevent and delect fraud Challenging a8sumplions and ludgments mBde by management in115 slgnlfi¢anl accounung pollcles Id8ntlfylng and testing joumal entries Identifying and lesling related party trans8cllons Inspecting th8 knard mlnutas Assos$lng the extent of compliance with the relevant laws and regulatlon5 as part ol our procedures on Ihg rg181èd Inanclal stabmenl Ilem Thes8 aud51 procedures were designed lo provlde r8asonabl8 8$sur8n¢e that the flnancSal statements wèrè frè& from fraud or error. The Tlsk of not detecting a m81orial missl8toment duo io fraud Is higher than the rlsk of not deiecung ono resulting from error and dg1o¢ting Irregularlues that resull from fraud is Inherenlty more dlfficull than detecting those that re8uII from grror, as fraud may involve collusion, dellberate concealment, forgery or inl8nlional mi8reprtr$&nt8tions. Aso. the further removed non- compliance with laws and regulations Is from events and transacllons reflecled In the financial stalemenls, lh8 less1Skely we would become awaie of it., Th8 a55essment of the appropriateness of the collective compolenc& and capabllliles of Ihe engagement t6am included conside¥8lion of the engagement team's- Understanding of, and practical experlenca wlth. audlt engagements of a slrnilar natur¢ and complexity Ihiough appropriate tralnlng and participation Knowledg8 of th8 sedor in which th8 charitabla company operates. and Understsndlng of tha16gal and regulatory requSremenis specific to the enbly Indudlng thè provisions of the applicabla lèglslatS0n. The team ¢ommunl¢8tlons n respect of potential non-compliance with laws arKI regulalFon$ and fraud ncluded Ihts polentlal for fraud In revenue recognition through rnanlpulalion of Incom8. Page V
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD The Boparan Charltable Trust IA company Ilmlted by guaranteel Independent audilpr's report to th• membevs of The Boparan Charltable Trust {contlnuedl Explanatlon as to what gxtent the audlt was consldorod capable of detectlng Irr•gularltles. Including fyaud (eontlnuedl We dld nol Identlfy any matters relallng lo non-¢ompllanc8 wSlh laws and regulabon and fraud. In assesslng the polenllal rlsk9 of malerfal mlsslalemenl. we oblalned an understsndlng of.. The charllable ¢ompAnS operations, including the natur8 01 its rèvènuè sourcas, to understand the dasseB ofiransadons, accounts balances, expected flnanclal stal6mant dlsclosures and buslness risks that may re8uII In rlsks of materlal mSsstalement. and Thè charltable company's control envlronmonl. In¢ludlng'. Managernent's knowlÈdge of rèlevant laws and regulations and how the ¢h8rlt8ble company Is complying with thos8 laws and regulations The adequacy of procedures for authorisation of transactions and rev1 of management accounts, and Proceduras to ensure that possible breaches of laws and regulatlons are appropriately T8soIv8d. Use of our roport This r8port Is made solely lo the Companys m8mb8rs, as a body, in accordance wllh Chapter 3 of Part 16 01 the Cornpanles Act 2006. Our aud5t work has been undertaken so that we mlght stal6 to the Company's rnetHb&rs those mallers we are requirod to State to them in an Audilorfs report and for no other purpose. To the full83t èxtent permitted by law, we do not •ecèpt or assume responsibility lo anyone olh8r Ih8n the Company and Ihe compallS members as a bo(Sy, lor our audit work, for Ihls report. or for the opinN)ns we havg foTined. Wllllarn Devill Bsc FCA DChA Senior Stalulory Auditor for and on behalf of GTanl Thomton UK LLP Slalu¢ory Audltor, Chartered Accountants Bimiingham Date.. 9/912022 Pag9 10
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th• Boparan Charltable Trust {A rornpany Ilmlt•d by guarant••) Stat8m•nl of flnancial activities {Énrorporatlng Ineomè and expenditure account) For the perlod ended 2 Janu•ry 2022 Perlod to 2 Period to 3 Noto January 2022 January 2021 Income from: Donations and legaciès Other Iradlng actlvllles Investments 107.003 46,278 2T6,139 11,989 7,253 Total Income 153.281 295,381 Expondlture on: Ralslng funds Charltablg gQtlvlllgs 5.393 580.368 3,496 684,975 Total •xpèndltur• 585,761 688.471 N•t movement In funds 1432,480} (393,090) Reconclliation of fund8: Total funds brought forward Net movement funds 1.804,724 1432,480) 2, 197,814 {393,090) Total lunds carried forward 1,372,244 7,804,724 The Siatemenl of financial a¢livilles Includes all galns Bnd losses recognlsed In th8 ptrilod. All incoming resources and rèsources expended are in resp8ct of unrestrlcted funds and generated from continuing activities. The notes on pagès 13 to 22 form part of these financlal $18tèmènts. Page11
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th• Boparan Charltsbl• Trust {A eompany Ilmlted by guaranlo&} Registered numbgr: oe852304 B*lanc• sheet As at 2 January 2022 2 January 2022 3 January 2021 Note Currnnt assots Debtors Cash al bank and Sn hand 14 175 2,092,457 1,738,625 1,743.225 2,092,632 Creditors: amounts falllng due wlthin one year 15 {370,9811 (287,908) Not current as5•ts 1,372,244 1,804.724 Total assetsloss curmnt Ilabllltles 1.372,244 1,804,724 Total n•t assets 1,372.244 1,804,724 Charlty funds Unrestricted funds 1.372.244 1.804,724 Total funds 1,372.244 1,804,724 The financial statements have been prepared In 8ccordance wlh the Provlslons 8ppllcable to enlltles subject to the small companle8 regirne. The fin8lla81 statèments were approved and 8Uthorlsed for18sue by the Trust86S and signed on thelr beh81f by.. A Boparan ICh¥lr (Jf TriJ8lp&%l Date., 14 July 2022 The notes on pages 13 10 22 fortn p8rt of these flnancial statgments. Page 12
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD The Boparan Charitabl¥ Trust {A company Ilmlted by guJrant•o1 Not•s to the financial ststements For th• p*rlod ended 2 January 2022 General Information Th8 Boparan Charitabl8 Trust Is a charity by way of g company lirnited by guarante9 INumb8r 068523041 and a r8glsl8rbd charity. The Boparan CharÈt8ble Trust gained charitable status on tho 4 June 2009. The registered charbly number Is 1129992. The Trust 15 8X8mpt from income, corporation and captial gBins lax provided its incomg and galn8 are applh?d for Gharllabl& purKK)ses. Accountlng pollcles 2.1 Bas55 of pr•paratlon of flnanclal statements The financial stal8menls hav8 been prèparèd in accordance with the Charities SORP IFRS 1021 Ac¢ounling and Rèporting by Charities.. S1818ment of Rècommended Practice applicable lo chAritl8s preparing their aceoL)nts In accordance with the Financlal Reportlng Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 20191. thg Fln8n¢ial Reporting Standard appllcable In Ihe UK and Republic of Ir81and IFRS f 021 and the Compani98 Act 2006. The Boparan Charitable Trust rneels the deflnllron of a public bèneflt enllty under FRS 102. A559ts and Ilabilities are initially recogni8ed at historical cost or transaction value unless Othorwi$e $tBled in thé r8lèv8nt accounting policy. The financial Statements aTe presented in sterling (£1 and no roundlng h8s boon gpplied. 2.2 Golng ctsn¢•rn The Irustees have considered the Trust's ability io continue as a golng concern and havg given partlcular altentlon to consld8ring the impact of Covld-19. Tha Iruslees consider that the Trust has sufficient r950urc8s tr) conllnue Éo meet its financial obligatlons as they f811 due for a p8riod of ntsl less than twelve rnonlhs from tha dBle of approval of Ihes8 fin8ncial $18t$m9nts. They therefore contlnue lo adopt the going concern b8515 01 accounllng in preparing the financial st8t8ments. 2.3 Incom• All Incom• $ recognised once th8 Company has &nlitlemenl lo the Income, It 1$ probabl8 thal the Income wlll be r8eelved and the amount of incorn8 recplvable Can be m&asured reliably. Income lax recoverable in Telallon lo Investment Income Is recognlsed al the Ilm6 th8 Invastmenl income Is rscelvable. 2.4 Expenditure Expenditure is r8cognSsed once there is a legal or constructlve obllgation to translef econornic benefit to a third party, il Ss wobgble that o trBnsfer of economic b8neflts wlll bg requlrèd In settlement and the amount of the obligation can b¢ measured rellably. Expenditure is classified by aclivlty. The costs of 98ch BctivSty are made up of the total of dlreet cosls and shared costs, including support costs involved in und6rtaklng each actlvlty. Dlrecl costs 8tlrlbutablé lo a slngla acllvlty are allocated diTSCtIy lo that aclivily. Shaied ¢osi8 whSch contribute lo more Ih8n one activity and support costs whKh are not attributable lo a single aclivlty arè apportloned between those act1vie3 on a bas1$ ¢onslstent wlth the use of ro8ources. Cenlral staff costs are alloca18d on the basls of 1Sme spgnl. and depreciation charges albtraled on the porutsn of lh• ass&l's use. Expenditure on ralsing funds includes all 8xpendlluro incurred by ihe Company to raise funds lor Its charitable purptrsas and Includes Costs of all fundraising 8Ctlvltiès ev&nts and non.charilable Iradlng. Pag& 13
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD TITe Boparan Charltable Trust IA company Ilmlted by guaranteo) Notes to the financial statements For th• p•rlod •ndod 2 January 2022 Accountlng pollcles {contlnuedl 2.4 Exp•ndlturo Icontlnu•dl Expenditure on charl¢8ble a¢tivltles ks Incurred on directly undertaklng th8 actlvltlgs which fvrther the Companls objectives, as well as any assoclated support costs. Grants payabl8 are Charged In the period when the offer is rnade except In thosè cases where the offer is conditional, such gTant8 being recognised as expenditure when th8 ¢ondStions att8chlng are fulfllled. Grants offered sublecl lo condlllons which hava nol been met al the perlod end are noted as a ¢omml(m8nl, bul not accrued as expenditure. All exp8ndilure Is Incluslve of IrrecoveraNo VAT. 2.5 Debtors Trada and othar debtors are recognised al thè s8tt18m8nt amount after any trade discount 0ffèd. pr&paentS arè valued at the amount prepaid net of any trade dlscounts due. 2.6 Cash at bank and In hand Cash al bank and in hand Includes cash and short-term highly liquid invesltn8n15 wSlh a short malurity ol three rnonlhs or less from the d8t8 of acquisition or opening of the depos11 or 81milaT account. 2.7 LSabllltltrs and provlslons Liabilities are recognlsed when thorè Is an obllgallon al the Balance sheet dale as a result of a past ovont, it is probable that a transfer of economic b9ngfit wlll be r&quired in selllemenl, and the amount of the settlement C8n be éslimatad ieliably. Llabllllles are recognlsed al the amount that thé Company antlclpales it will pay to sellle the d8bl or th8 arnuunl k has recelved as advanced payments for the goods or services11 musl provide. Provisions are measured al the b951 estSmale of the amounts required lo settle the obllgatlon. Where the effect of the time value ol money18 rn8torial, the provlslon is based on the present valu8 of those amounts, dlscounlad at the pre-tax discount rate that r8lle¢is Ihfr rl$ks speclfic lo the liability. The unYAndlng of the discount is recogn158d In thè Statement ol financial activities as a financ8 cosL 2.8 Flnanclal Instrumènts The Company only has financl81 assets and financial liabilities of a kbnd that quallfy a8 b8slc flnanclBI Instnjments. Basic financial instruments 8re Inltially rocognised al transaction value and sub3equently m8asur8d at their sattl8mnt value with th8 8xceptlon of bank loans which OTe subsequently measured al amortl8ed co81 uslng the effective interest method. 2.9 Pensions The Company operates a defined contrlbutlon penslon scheme and the pension charge represents the amounts payable by the Company to th8 fund in tespect of the period. 2.10 Fund accountlng General funds are uniestrScled funds whlch ar8 av8llabl8 for use at the dlscretlon ol the Trustees i rurth8Tanc8 of the general objectives of the Company and which have not b88n designated for other purposes. InVlment Incomè. galns and losses are alkjcaled lo the approprlatè fund. Pag8 14
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD The Boparan Charftablo Trust (A company Ilmlted by guaranto•1 Notas to the flnancial 5tst8rn8nts Foi th• porlod ended 2 January 2022 Accountlng pollcles Icontlnuedl 2.11 Appllcatlon Proc•ss Th8 Boparan Charltgblg Trust wants lo help as many chlldren and young pgople as posslblo and fully welcome5 applicalions from all sections of Ihe community. Each applicallon Is thoroughly assegsed to ènsure it meets the criteria before being pul beforo the declslon pBn81 of Trustees. Crltlcal accountlng estlmates and areas of ludg•m•nt Preparallon of thg flnanclal statements has not required the Tru31ee3 to make Bny significant judgemenis or estimates. There are no kay 8ssumptlor15 concernlng the future and other key sourcès of estima0 uncertainly at Ihe reporting dal8 that have a 31gnlficanl risk of causing a material adlu8lment to the carrying 8mounl of assets and Ilab515118s wlthln the next financial year. Income fiom donallons and 109a¢loS Porlod to 2 January 2022 Period to 3 January 2021 Don•tlon$ DonalK>n from Boparan Evenl8 Llmlted in rolotk)n to the Bright Star Ball Other donations 275, 151 107.003 107.003 276,139 Th8 Income from donatlons and Fegacles was all unreslrl¢t&d. The Trust benefits from the involvement and support of volunteers. In accordance wtth FRS 102 and thè Charftles SORP IFRS 1021 the economic contribution of gonaral volunteers is not recognised in the accounts. Page 15
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th• Boparan Charltable Trust (A ¢ompany Ilmltod by guarantee) Not•$ to thè flnanelal statements For the porlod ond•d 2 January 2022 other tradlng a¢tivitlo8 Period to 2 January 2022 Pertod to 3 January 2021 Gift Ald GAYE Fund Ralslng Events Contactless Shopplnu atyl Chrlstmas QuizlRaffle Virtual Race3 Trlk8 Cha118ng88 Sober 0clotr Facgbook Competitions Farn1 Fynd Raising In Memory Sale3 and Sllg fvnd raising Go Road lo Olymplcs Lad5 Lunch Absell London Marathon 1.039 14091 8.324 1.300 130 293 361 376 433 537 375 141 263 72 1.950 140 1,532 9,581 5.574 8.577 2.692 163 46,278 11,989 Inve$tm•nt Ineomo P•rlod lo 2 January 2022 Period lo 3 January 2021 Interest bearing deposll accounts 7.253 All of ihè charitable companls investment Incomè of £Nil (2020.. £7,253) from money held In Interest bearlng deposlt accounts. Page 16
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Th8 Boparan CharFtablo Trust {A company Ilmlted by guaTantso1 Notes to the flnanclal statements For th• p•ilod gndgd 2 January 2022 Expendlturè on ral$lng funds Perlod to 2 January 2022 Period to 3 January 2021 Costs of ralslng funds Bright st8r Ball Facebook Competllions London M8r8lhon Abseil Lad8 Lunch Ro8d to Olympics Prolect Iceman 3.480 16 280 2,273 1,941 360 S39 5,393 3,496 Analy$l$ of grants P8rlod to 2 January 2022 Period to 3 January 2021 General household Household appliance8 Househctld furnllure Treatments Last WSsh Holidays F(K)d parcels and fwd vouch81S Sensory items Olsabllity alds OlheT 472 14,119 1,021 56,987 9.621 14.754 9,040 36,932 9.542 14224 27,726 318,792 4,999 22,275 377,339 25,020 438,340 488.523 All grants made durfng the year were for the dlrecl benefll of Indlvldu81s. No malerlal Insiltulional granlg have been made. Page 17
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Tho Boparan Charllablg Trust IA company lirnlted by guaranlèèl Notes to the flnanclal $tatemgnts For thè p•rlod •nd•d 2 January 2022 Analys58 of •xpondltur8 on charltable actlvltles Pgrlod to 2 January 2022 Poriod to 3 Janusry 2021 Summary by fund type Gentsml household Hou58hold appliances Household furnlturo Treatments Last Wish Holid8yS Food parcels and frxid vouchers Sensory Itgm$ Dlsablllty olds Other 473 14.119 1.021 54968 1.621 14,754 1.040 36,932 9,542 14224 27,726 318,792 4,999 22,275 377.339 25,020 Support and governance costs (see note 101 99,516 153.9T4 CommunSty projects 42,510 42.478 580,368 684.975 All grants made durlng the ar werg for Ihe dlrect b8nefil of individuals. No matarfal insutulional grants have been made. 10. Analysls of Support costs General Perlod to Perlod lo Support Goveranco 2 Jan 2022 3 J8n 2021 Total Total Support cost Staff costs Marketlng costs Insurance Bank charges Employee expenses Books and training Vehicle costs Audit fee Legal and professional 82.325 235 8Z,325 235 5,356 25 860 1,085 360 9,250 241 120,305 284 5,423 24 3.087 507 2,024 3.060 19.260 5,356 25 860 1.085 9,250 Total 90.246 9,270 99,516 153.974 Page 18
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Tho Boparan Charitable Trust IA company Ilmlt•d by guarant••l Noto6 to the flnanclal stst•m•nts For th• perlod ended 2 January 2022 11. AudIt08 ramuneratlon P•rlod to Perlod to 2 Jan 2022 3 Jan 2021 Fees payable lo the Compan8 audllor for the audlt of the Compan13 annual ac¢ounts 9,250 3,OGO 12. Staff costs Perigd to P&iFod to 2 Jan 2022 3 Jan 2021 Wag85 and salarles So¢lal security costs Conlribullon to dellned conlrlbullon penslon schemgs 75.980 4.062 2.283 109,524 7,065 3,716 B2.325 120,305 The average number of persons employed by the Cornpany durlng the period was as follows.. Perfod to Period to 2 J•n 2022 3 J8n 2021 No. Employees No employee re¢elved remuneration amounllng lo more than £60,000 In èlth&r year. 13. Tiuste•s' r•munarailon and expenses During Ihe period, no TNSte8s recolved any remuner8tlon or other benefits (2021.. £Nil). During Ihg p8riod 8nded 2 January 2022, no Trustee expen8es hav8 b8en Incurred (2021.- £NilJ. 14. Debtors 2 J8nuary 2022 3 January 2021 Due wlthin one year Trade debtors 4,600 175 Pag8 19
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Thè Boparan Charltable Trust IA company Ilmlted by guarantee) Notes lo th• flnanclal statemènts For the perlod •nd•d 2 January 2022 15. Crodltors: Amount¥ falling due wlthln on• yoar 2 January 2022 3 J8nu8ry 2021 Tradè ¢dItOrS Other eredllors ruals and deferred Income 20.196 12,191 1,801 273,916 350.785 370,981 287,908 16. Fln•n¢lal In$trum•nts 2 January 2Q22 3 January 2021 Flnanclal assets Flnancial assets measured at amortl8ed Cost 1.743.225 2,092.632 2 January 2022 3 J8nu8ry 2021 Flnancial Ilabilltles Flnanclal Ilabllltlgs measured at 8mortlsed ¢o$t 370,981 287,908 Flnancld assets measured al amoriised c081 compr15e cash, trade debtors and arnounts owed by related partles. Flnancial liabilities measured al ?rn9rti5gd cosl comprise trade creditors and other creditors. Pag8 20
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Tho 8opar•n Charltabl• Trust (A company Ilmlt•d by guarantgel Notes to the financlal 5tat•ments For the perlod ended 2 January 202Z 17. Summary offunds Summary of fund¥. ¢urr•nt p•ilod Balance #t 4 January 2021 Balance at 2 January 2Q22 Income Expenditure General funds 1,804,724 153,281 ($85,761) 1.372,244 Summary ol funds - prlor p¥rlod SalanG8 at 30 D8c&mb&r 2019 B81artcÉ* al 3 January 2021 Income Expendlture Ggneral lunds 2, 197,814 295,381 [688,471) 1,804, 724 18. Analy¥Ès of n•t a¥¥trts b•tw••n funds Anatysls of n•t assets between funds - current period Unrg¥trletèd funds 2 January 2022 Total fundty 2 January 2022 Currgnt Bssets Crgdltors duo wlthln one yeaT 1.743.225 1.743,225 {370,981) {370,9811 Totsl 1,372,244 1,372,244 Analysls of a$sgts bgtweon lund$. prlor perlod Unr&slrfcted runds 3 Janry 2021 Total fvnds 3 January 2021 Current assets Credllors due wllhln ong year 2.092,632 2,092,632 (287,908) (287,908) Total t,804.724 1.804,724 Pagg 21
Docusign En¥ÈlopÈ ID". 44D119FE-D1F2-486&989(kC6F2C40E70DD Thè aoparan Charlt•bl• Trust {A Company IlmSt•d by guarant•è) Notes lo the financial ststement5 For the perlod ended 2 January 2022 19. Pgn¥lon comrnltrnents The Company operates B defined contrlbulton penslon sch8rne. The assets of Ihe scheme are held 58par8t8ly frorn those of Iha Company In an independently admlnistered fund. The pension cost charge iepresenls ¢onlribulionE payable by Ihg group lo the fund and amounted to £2.283 (2021.. £3,716) were payable lo tho fund al th8 balance she81 date and are Included in Creditors. 20. R•lat•d party transactlons During the year the Trust received a donation of £NII (2020.. £275, 151) from Boparan Ev&nts LSmited. B K Boparan. a Iruslee of the GhOTily. is a director and shareholder ol Boparan Evenl8 Limi18d and A Boparan is a director of Boparan Events Llmlled. Al 2nd January 2022 an amount r)f £NII (2021.. £NIIJ was due from Boparan Events Limited. Page 22