CompanyTegistration number.. (kn852304 CharityTegistratSon number.. 1129992 THE BOPARAN CHARITABLE TRUST IA company Ilmlted bv Buaranteel TRusfEE5' REPORT AND FINANaAL STATEMENTS YEAR ENDED 31 DECEMBER 2023
THE BOPARAN CHARITABLE TRUST TRUSTEES, REPORT YEAR ENDED 31 DECEMBER 2023 Contents Pale Reference and administrative details of the Company. its Trustees and advlsers Trustees, Report Independent Auditorfs Report Statement of Flnancial Actlvlties Balance Sheet io Cash Flow Statement li Notes to the Flnanclal Statements 12-20
THE BOPARAN CHARrrABLE TRUST IA company Ilmlted by 8yaranteel TRUSTEES, ANNUALREPORT YEAR ENDED 31 DECEMBER 2023 Tru5tee5 A Boparan Ichairrnanl 8 Boparan K Macdonald Porter Compthny rellstered number 06852304 Charlty r•Wst•red number 1129992 ReK15terod offlc• Colmore Court 9 Colmore Row Blrmln8ham B3 2BJ Independentdl01S Cooper Parry Group Umlted Cubo Birmln8ham Two Charnberla5n Square Blrmln6ham B3 3AX B•nk•rs Bank ol Scotland SS Temple Row Blrmlngham B25LS
THE BOPARAN CHARITABLE TRUST (A Company limlted by guarantee) TRUSTEES'ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual reporttogetherwith the audlted fSnancial Statements of ihe Cornpanyfor the year ended 31 December 2023. The Annual report serve5 the purposes of both a Trustees, report and a directDrs' report under company law. TheTrustees conflrrn thattheAnnual report and linancial statements of the charitable companv complywlth the current Statutory requirement5. the requirements of the charitable compzny'sgovernin8 doEurnent and ihe provision5 of the Staternent of Recommended Practice ISORPI appliiable to charities preparing their accounts in accordance with the Financial Reportln8 Standard applicable in the UK ènd Republic of Ireland IFRS1021 (effective l January 20191. Slnce the Company quallfies as small under Section 382 of the Companies Act 2CQ6, the Strategic Teport requlred of medium and large companies under Ihe Companies Act 2006 Istrategic Report and Directors. Reportl Re8ulations 2013 has beeTh omltted. Trust••s of the Charlty The dliector5 01 the charltable company are its trustees lor the purposes of tharlty law. The trustee5 who have served durin8 the year and 51nEe the year end were a5 follows,. A Boparan IChaSrmanl B 8oparan K Macdonald Porter Oblerthe$ 4nd artltIeS Polkles and oble¢tlv•s The objectlves ol the charltable company are to help children and younR people, up to thelr 19th blrthdayi acr05S En8land and Wales. who are dlsadvantaged elther throu8h disabilitles. Ille Ilmitln8 tonditlons or extreme PDverty. The Trustees conllrm that they have referred to the guidance contalned sn the Charlty Comm15sion'5 general guidance on publlc beneflt when reviewln8 the Trust's aims and objective5 and In plannln& luture actlvitie5 and setting the grant maklng policy for the year. In settln8 objective5 and plannln8 for artivltie5, the Trt*stees have glven due conslderatlon to general guldance publlshed by the Char5ty Commission relatlng to public benefit. Includlng the 8uldance 'Public benefit.. runnlng charlty IP821'. Str•tegle$ lor achlevlng obleetlve5 The charity has remained operational throu8hout the year and it is now that fundraisin6 has become the strategic prlority. As there Is a 8reat c311 on the charliy's resources by beneficlarles. Attlvkles undertaken to athleve oblecdvÈ$ In 2022 we had our annual Football at the London Stadium, our most successful golf tournarnent at the Belfry Sn the West Mldland5 and a150 had a fundraiser compete In the Iron Woman Worlil Charnplonship. Maln artivitles und•rtaken fo furtherthe CoThMMny's purposes forthe publlc beneftt The objective5 of the charltable company are to help children and young people, up to their 19th birthdayi acros5 ETh8land and Wales, who are disadvantaged either through disabilltles, life limit4ng conditions arid extreme povertv. The Trustees confirm that they have veferred to the Buidance contained in the Charity Commi5sIon's 8eneral guidance on public benefit when reviewing the Trust's aims and objective5 and in planning fuiure activities and setting the grant maklng poliry for the year.
THE BOPARAN CHARITABLE TRUST IA tompany Ilmited by guarantee) TRUSTEES, ANNUALREPORT YEAR ENDEO 31 DECEMBER 2023 A¢hievements and performance Maln achle¥ements ot the Company The incominB resources of the Trust for the year to 31 December 2023 amounted to £872.36212Q22.. f 594.0441, £78,43612022.. £16.1611 was expended lor raisin6 funds, £711,44812022.. E474,573I was absorbed by charitable actlvitles Including £23.994 12022-. £39,7561 absorbed by governance Costs leaving net incoming lexpendlturellresources for the year of £82,47812022: £103,310). The Boparan Charitable Trust ha5 experienced a p051tlve perlod ol growth and rebuildlng over the past twelve months. DelivEring core event5 to a high stand3rd and layin8 foundations for 8rowth In the years ahead. In addition to this char5ty has appointed its first DSrectDr to lead in these areas. Our appllcation5 continue an upward curve with a growth 7.99%, this was due to the c05t-of-Ilvlng crlsls hSttlng the UK. A bi8 focu5 for the charity remalns keeping applications open and to keep our appllcations accesslble to as manv beneflclarles as possible. Throughout the year we have helped 660 Indivldual chlldren with fundin8 for speciallst eqvlpment. es5entlal theraple5 for disabled chlldren and household necessltles io support families In poverty. We had the retvrn of our key fundralslng actlvltle5 for the tharlty, startlng wlth a football tournament at West Ham football grovn(J, goll tournarnent at the Belfry In Sutton Coldf5eld and the landrnark Incarnation of our Ila8ship fundralser the Bright Star Ball toward the end ol the year. Fln•nclal revlew Goln8 concern After makin8 appropriate enqulrle5, the Trustees have a reasonable expectatltsn that the Company has adequate resource5 to contlnue in operational exlstence for the foreseeable future. For thls rea50n, they contlnue to adopt the 8oin8 concern basls in Preparin8 the linanclal staternents. Further detalls regardlnB the adopllon of the 8oln8 concern basis can be found in the accouniin8 pollcie5. Re•5 pollcy It 15 the policy of the Trustees io mèlntaln the 8eTheral unrestricted funds at a level io provlde 5uffitient fund5 In reserves to meet the future antitipated demands on the Trust's resources. Havin8 regard to the Ilkely levels of Incornin8 resources and direct charitable expenditure. the Trustees are 5atlsfled that the funds and a55et5 at 31 December 2023 as reflected in the balance sheet are avallèble and adequate forthe Trustees to fulfll the obli8atsons of the Charity and malntaln Its operatlons. Reserves held at 31 December 2023 were £1,558,03212022: £1,475,555). Plans for future perlod5 The Boparan Charliable Trust has developed Its most enviable line-up of events for the coming twelve months with the addition of 5i8nlflcant In ald of events, major Individual challenges. In addltlon to diversification into grant5 and trust fundrai5in8. The charity will also roll out its rebrand and a new web55te.
THE BOPARAN CHARITABLE TRUST (A company Ilmited by guarantee) TRUSTEES'ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 StructurE, governance and management Constllution The Boparan Charitable Trust Is re8iStered as a charitable company limited by 8uarantee and was set up by a Trust deed. Meihods of appolntment or electlon of Trusteei The rnanagement of the Company isthe re5p0115ibility tsf theTrustee5 who are elerted and co-opted undertheterms of the Trust deed. FlnAthclal rlsk mana8•ment Having reBard to the Trust's organlsation and activities. it Is the vlew of the Trustees that the malor risks to which the Trust may be exposed are largely financlal In nature. Systems of intern81 control provide rea50noble assurance 38aSnst materlal mSssiatement or loss and they Include.. Re8ular revlew of the flnancial results of the Iharlty Se8re8ation of dutie5 Procedures for the authori5atlon of all tran5aCtlons and projects Idenrification and rnanagement or risks The Trustee5 Contlnue to be vl8llant and to keep pro¢e5ses under revlewto ensure that the malor rlsks to whlth the charity is exposed are mltigated, New trustees undergo appropriate orlentailon to brlef them on their le6al obllgatlons under charity and companv law, the content of the charity's trust deed, the declslon maklng processes. the bu51ne5s plan and recent flnancial perforrnance ol the chjrltv. Trusteès, Indemnltles AUM on 8ehaK of Uberty Mutual Europe SE Tru5toes' responslbllltlos The Trustees Iwho are also the director5 01 The Boparan Charitable Trust lor the purpD5e5 of company lawl are responsible for preparing the Trustees, report and the flnancial statements In •ccordance with applicable law and regulation5. Cornpany law requlre5 the executlve commSttee to prepare financlal statem2nt5 for each linanclal year that 8ive a true and lalr vlew of the state of affalrs of the charity and of the incoming resources and appllcatlDn of resources, In£ludin8 the net Income or expenditure. of the charity for the year. In preparing those financlal 5taternents the emecutlve cornrnittee are requlred tD'. select 5Ultableaccounting policies and then apply thern consistent. observe the method5 and principles in the Charities SORP,. rnakejudgments and estirnates that ire reasonable and prudent.. prepare the financial statements on the golng concem basis unless it 15 inappropriate to presvme that the charlty will continue in business. The Trustee5 are responsible for keeplng adequate accountlng record5 that are sufficSent to show and explain the charitable company's transattions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to eniure that the flnancial statements comply with the Cornpanie5 Act 2006. They are a150 responsible for safe8uarding the assets of rhe Company and hence tor taking reasorsable steps for the preveThtion and detection of fraud and other irregularities.
THE BOPARAN CHARITABLE TRUST IA company limited by guarantee) TRUSTEES. ANNUAL REPORT YEAR ENOED 31 DECEMBER 2023 Trustee< reSponb[lities- contlnued The trustee5 are responsible for the malntenance and integrlty of the corF4Jrate and financlal information included on the charitable cornpan¢s web5fte. Leglslation in the Unlted Kin8dom 8overnin8 the preparation and dissemination of flnanclal staternent5 may differ from legislation In other jurisdictions. D15closure of intormatlon tothe auditors We, the directors ol the company who held office at the date ol approval of these FlnancSal Statements as set o above each Confirm, so far as we are aware. that.. there Is no relevant audit Information of which the compan¢5 audltors are unaware,. and We have taken all the steps that we ought to have taken as directors in order to make ourselves aware of anv relevant audlt Inforrnatlon and to establlsh that the compan15 audltors are aware of that Information. Aydltor CDOPEr Parry Group Llrnlted a deemed to be re-appointed under 5ectlon 487121 DI the Companles Act 2006. The audit business of Halne5 Watts blTmlngham LLP was acqulred by Cooper Parry Group Llmlted on 14 NoveTnbEf 2023. Hain2s Watt$ 8lrmlngham LLP has resl8ned a5 audltor and Cooper Parry Group Llmlted ha5 been appointed In its place. Nolssues have )rlsen from the change of ouditors. Th15 repcrt has been prepared In accord3nce wlth the speclal proY151on5 of Part IS ol the Comynles Act 2LX]6 relètlng to 5rn•11 companles. Thi5 report was approved by the Bobrd ol Tru5tee5 Dn and sl8ned on its bÈhalf A 8oparan Chalmian
INDEPENDENT AUDoR5, REPORT TO THE MEMBERS OF THE BOPARAN CHARITABLE TRUST Oplnlon We have audited the financial statements of The 8oparan Charitable Trust for the year ended 31 December 2023 which comprise the St3tement of Finan£i31 Activitie5, the Statement of Finaniial P051tion and notes to the financial statements, including a sumrnary ol si8nificant accountin8 policie5. The financial reporting frameworkthat has been applied in their preparation 15 applicable law and UnSted Kingdorn Accounting Standards, Including Financial Reporting Standard 102 Th2 Financial Reportin8 Standard applicable In the UK and Republlc of Ireland (United Kin8dorn Generally Accepted Accountin8 Practlcel. In our opinion the financia1 staternents.. give a true and fair view of the stare of the charitable company's affalrs as ai 31 December 2023 and of its incomln8 resources and appllcatlon of resourc, Including its income and expenditure, lor the year then ended,. have been properly prepared In accordance wlth United Kin8dom Generalty Accepted Accountlng Practice; and have been prepared in accordance wlth the requlrernents of the Companles Act 2006. Basls for oplnion We conducted our audit in accordonce wlth InterThatlonal Standard5 on Audliln8 IUKI IISAS IUKII and applicable law. Our responsibilities under those Standards are furrher descrlbed in the Audltors respon5it)ilitie5 for the audit of the flnantial statements section of our report. We are independent of thE charlty Sn accordance with the ethlcal requlrement5 that are relevant to our audlt of the flnancial Statements In the UK, Includin8 the FRC'5 Ethical standard, and we have fulfilled Dur other ethlcal respon556illt5es in accordance wlth these requ5rernents. We believe that the audit evidence we have obtained is sullicient and appropriate to provlde a basls for our oplnion. Concluslons relatlni to 8oln8 concem In auditin¥ the financial stèternents. we have concluded that the trustees, Use of the golnB concerTh basls of accountlng in the preparation ol the flnaThclal statements Is approprlate. 8a5ed on the work we have performed, WE have not Identlfled any materlal uncertaintles relJtlnB to events or conditions that, individually orcollectively* may cast slgnlllcant doubt on the chariiable cornpany's abillty to continue a5 a goin8 concern lor a perSod ol at least twelve morjrhs from when the flnanclal staternen15 are authori5ed for issue. Our responsibllitle5 and the responsibllltie5 of the trustees wlth respttt to goln8 concern are de5crlbed In the relEvant sections ol this report. other Infom14tlon The trustees are responsible for the other Information. The other inftsrmatlon comprises the informallon Included in the annual report, other than the flnanclal statements and our Report of the Independent Auditors ihereon. Our Opinion on the financial Statements ijoes not cover the other Information and we do not express any form of assurance conclusion thereon. In (Dnnectlon with our audlt of the Ilnancial Statements, our responsibility is to read the other InformatSon and, in doiThE so, consider whether the other inforrnatlon is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appear5 to be materially rni55tated. If. based on the work we have performed, we conc5ude that there is a materlal rni55tatement of th15 Other informatlon, we are required to report that fact. We have nothlng to report in this regard. Oplnlon on other matters pre5crlbed by the Companies Art 2006 In Dur opSnion, based on the work undertaken in the course ol the audlt.. the information given in the Report of the Trustees lincorporatln8 the Strategic Reportl for the flnancial year for which the financial statements are prepared is consistent with the financial statements.. and the Report of the Trustees lincorporatin8 the Strategic Report) has been prepared in accordancewith applicabl legal requirement5.
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE BOPARAN CHARITABLE TRUST Matters on whlch we are requlred to report by exceptloD In the light of the kThowled8e ond understanding ol the charStable company and Its environrnent obtained in the course of the audit. we ha¥e not identified material fflisstatements in the Report of the TTUStee5 lincorporating the Strate8lc Report). We have nothing to report in respect of the followin8 rnatters where the Companies Act 2006 requires us to report to you If, In our opinion.. adequate accounting record5 ha¥e not been kept or returns adequate for our audit have not been received frorn branches not V151ted by u5., or the financial statements are not in agreement wlth the accountlng records arsd returns- or certain di5c105ure5 of trustees, remuneration speclfTed by law are not made,. or we have not received all the information and explanation5 we require for our audit. Respons11leS of trustees As explained more fully In the Staternent ol Trustees Responslb511t5es, the trustees (who ère also the directcrs of the charitable company fDrthe purpose of company lawl are responsible for the preparation of the financial Statements whlch give a true and faSr view. and for such Internal control as the tTUStees determlne 15 necessary to enable the preparation of financlal statements that are free from maierlal mi5Statement, whether due to fraud or error. In prEparing the financial Statements. the trustees are responslble for assessln8 the charitable tompany's ability to tontinue as a Koing concern, dlsclos5ng, as applicable, matters related to goin8 concern and u5in8 the soln8 concern ba515 of accountin8 unl5 the trusiees elther Intend to Ilquldate the char5ty or to cease operations, or have no realistlc aliernative but to do 50. Our responslbllltles lor the audbt of the flnan¢lal 5tJtements Our objectlves are to obtain reasonable assurance about whether the flnancial statements a5 J whole are free from maierlal mlsstatement, whether due to fraud or error, and to Issue a Report of the Independent Auditors that Includes our oplnlon. Reasonable assurance Ss a h58h level ol assurance, bul is Thot a guarantee that an audit conducted In accordance with 15As IUKI wlll always detect a maierlal mSs5tatement when It exists. Misstatement5 can arlse frorr fraud or error and are consldereé matefial If, Individually oi in the a88regate. they could reasonabty be expected to STrfluence the economlc declslons of users taken on the basis ol these financial 5tatementS. Irre8ularltles. Including fraud, are instances ol non-compliance with laws and regulations. We design procedure5 In Ilne with our re5ponsSbillties, outllned above. to detert materlal m15Staternents in respect of irregularltles. including fraud. The extent to whlch our procedures are capable of detectln8 irregularities, Includlng fraud is detaSled below: We obtalned an understanding of the le8al and re8ulatory frarrework applicable to both the (hafltable cornpanv Itself and the sector in which it operates. We identified areas of laws and regulatlons that tould reasonably be expected to have a materlal effect on the flnanclal Statements from our sector experience and throu8h dlscussion wlth the trustees and Dther rnanagement. The most SlBnificant were 5dentified as the Cornpanie5 Act 26, the Charlties Act 2011 and Charitles SORP IFR51021. We are not responsible for preventlng Irregularit125, includlng fraud. Our approach to detectin8 irre8ularbtle5, includlng fraud. Included, but was not Ilmlted to. the following: obtalning an uThderstandin8 of the legal and re8ulatory framework applicable to the Charltable Company and how the Charltable Company complles with that,. obtaining an understanding of the Charitable CompanV5 tontrol environrnent and how the Charitable Company have applied relevant control procedures, through tliscussions with mana8ement and bv performing walkthrough testing over key areas,. obtaSnlng an understanding of the Charitable Companls risk a55es5ment process. including the risk of fraud-, reviewing meetSng rninutes of those charged with 8ovemance throughout the year.. and perforrning audit testing to addre55 the risk of rnana8ement override of contro15, including testing joumal entrie5 and other adjustments for approprlateness. evaluating the busine55 rationale of significant transactions outside the normal course Df business and reviewing accounting estimates for bias.
INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE BOPARAN CHARITABLE TRUST Whilst our audit did not identify any significant matter5 relatlng tothe detection of irregularltSes including fraud, and despite the audlt being planned and conducted sn accordance with ISA5 IUXI. there remains an unavoidable risk that material misstatements in the financlal statements may not be detected owinE to Inhefent limitations of the audit, ancl that by their very nature, any such instances of fraud or irregularity would Ilkely Involve collusion, forgery, intentional mlsrepre5entatlDns, or the override ol internal controls. Use of our report This report 15 made solely to the company's membeTS, as a body. in accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the companws rnembers those matters we are required to state to them In an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not actept or assume responsiblllty to anyone other than the cornpany and the companls rnembers as a boilyi for our audit work, lorthi5 report, or for the opinlons we have formed. Nichola Venables ACA (Senlor Statutory Audltorl For and on behalf of.. Cooper Parry Group Llmlted Statittory Audltor 3° Floor Cubo Blrmln8ham Two Chamberla5n Square Birmlngham B3 3AX
THE 80PARAN CHARITABLE TRUST IA company Ilmlted by #uaranteel srATEMENT OF FINA14CIAL AcrivtnES YEAR ENDED 31 DECEMBER 2023 Total 1023 Total 2022 Note INCOME FROM Oonatlons and legacies Tradin8 acllvitSe5 Investments 8S4.329 18,033 566,283 27,761 TOTAL INCOME 872.362 $94,044 EXPENOITURE ON Ralsing funds Charltable actlvitles 78,436 711,448 16,161 474,573 TOTAL EXPENofTuRE 789.884 490,734 NET INCOMEIIEXPEWDITUREI Transfers between funds 82878 103,310 NET MOVEMEPIT IN FUNDS 82,478 103,310 FUNDS BAOiIGHT FORWARO 14 1,475,554 1.372.244 FUNDS CARRIED FORWARO 14 1.558,032 1,475,554 ContSnulni operatlon$ All Income and expendlture has arlsen from contlnuln8 actlvltles. The notes on page5 12 to 20form part of thesefinancialstutements 191
THE BOPARAN CNARITA8LE TRUST IA tompany Ilmlted by guarant8e) BALANCE SHEET YEAR ENDED 31 DECEMBER 2023 Total 2023 Total 2022 Nole CURREfrJT ASSErs Debtors Bank and cash 12 492,932 1,636.106 241.786 1.628.729 1129,038 1,870,515 CURRETrif LIABILITIES Creditors 13 1571.0061 1394.961J NET CURRENT ASSETS 1,558.032 1,475,554 TOTAL ASSETS LESS CURRENT UABIUTIES 1,558,032 1,475.554 FUNDS Vnrestrlcted funds 14 1,558.032 1,475,554 1,558,032 1.47S.S54 These ffinancial statements have been Pfepared In accordance wlth the speclal provlslons of Part IS of the Companles A¢12006 relating to charitable small companies. The flnanclal statemen15 were approved by the Board of Trustees on 3&1 {* Iz and were slgned on it5 behalf bv.. A Boparan Chalmian Re815tered Number. 06852304 The notes on poges 12 to 20forn? part of the5ellnoncia15totements iioi
THE BOPARAN CHARThABLE TRUST IA company Ilmlted by 8uarantee} STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2023 2023 2022 Note CASH f LOW FROM OPERATING AcnviTIES: Cash generated frorn operation5 7,377 1109,8961 NET CASH GENERATED BYIIUSED INI OPERATING A1VITIEs 7,377 1109,8961 CASH FLOW FROM INVESTING ACTivrriES: Interest received NET CASH USED IN INVEsfNG ACTivrriES CHANGE IM CASH AND CASH EQUIVALENTS IPJ THE REPORTING PERIOD 7,377 1109,8961 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE REPORTING PERIOD 1.628.729 1,738,625 CASH AND CASH EQUIVALENTS AT THE END OF THE REPORTING PERIOD 1,636.106 1,628,729 The notes on pages 12 to 20form pan of t17eseflnuncialstgtements Iiii
THE BOPARAN CHARITABLE TRUST {A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 310ECEMBER 2023 I GENERAL INFORMATION The Boparan Charitable Trust is a charit¥ by way of a company limited by guarantee (Number.. 068532041 and is a registered charity The Boparan Charltable Tfust gained charitablp Status on 4 June 2009. The registered charity number is 1129992. 2 ACCOU1ING POLICIES Basls of preparlns the Ibnan£lal statements The financial statements of the charitable company, which is a publlc benefit entity under FRS 102, have been prepared in accordance with the Charitles SORP IFRS 1021 'Accountin8 and Reporllng by Charities.. Statement of Recommended Practlce applicable to charities preparlng their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191,, Financial Reportln8 Standard 102 'The Flnancial Reporting Standard appllcable In the UK and Republic of Ireland,, the CharltSes Arl 2011 and the Companles Act 2006. The si8nificant accountin6 pollcies applled In the preparatlon of ihese flnancial statements are set out below. These pollcies have been con51Stently applied to all years presented unless otherwlse stated. Golng ¢on¢ern The trustees continue to adopt the 80in8 concern assumption as the ba515 of preparatlon of the charlty's flnancial Statements. In dolng so, thè trustees confirm they believe that no material uncertaintles exlst Sn the foreseeable future regarding the tharlty'5 ablllty io contlnue as a golng ¢oncern. In formlng thls concluslon, the trustees have consldered the level of funds held and the expected level of Income and expenditure for 12 months from the date ol author151n8 these flnanclal statefflents. Incom• All income Is recognised when the charity ha5 entitlement to the fund5 or Is probable that the Income wlll be received and the amount can be identlfles and measured rellablv. Donated Income is recognlsed upon receipt unless the charlty has prlor knowledge of the donatlon and15 able to Identlfy the amount rellablv. Income tèx recoverable In relatlon to investment Income is recognlsed at the tlrne the Investment Income Is recelvable. Empenditure Expenditure Is recognised where there is a legal or constructive obligation to make payrnents to thlrd parties, It Is probable that the settlement will be requlred and the amount of the obligation can be measured reliably. It is categorised under the following headin8s.'
Costs of raising funds Expenditure on charitable activities Expenditure is accounted for on an atcrua15 basis. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 1121
THE BOPARAN CHARITABLE TRUST IA company1Smlted byguaranteel NOTES TO THE FINANCIAL sTATEMErr5 ICONTIPIUEOI YEAR ENDE031 DECEMBER 2023 l AccouffflNG POUCIES ICONTIIIUfDI Allocatlon of support costs support costs are the cost of the functlons that are essential to 0551st and support the work of the charity but do not directly undertake in the charitable actlvities. Support costs include salary cost for employees coverlng a range of back offlce costs including payroll, flnance, human resources and governance. Non salary costs are 3150 Included. The support costs have been allocated accordin8 to project location, where the function 55 shared across projects the costs have been allocated accordin8 to the number of direci hours per projert. Grants payable are charged In the perlod when the offer Is made except In those cases where the offered 15 condltlonal. such Brants bein8 recognised as expendlttsre when the condltions attaching are fulfllled. Grants offered sublect to condltlons which hove not been met at the perlod end are noted as a commStments, but not accrue(l as expenditure. The trust beneflts from the Involvement and support of volunteers. Volunteer tlme Is not recogn15ed as donated income as per the Charlties SORP IFRS 1021. PensSons The Charity operates a defined contributlon pension scheme and the penslon charge represents the amounts payable by the Charlty to the fund In respect of the period. Taxatlon The charlty Is exempt from Corporation tax on its charitable activitles. Cash at bank and In h•nd Cash ai bank and in hand is prlmarily held to meet short term cash cornmltments as they fall due rather than for Investment purposes. Currently the charity does not have any Investment accounts. Debtors Trade and other debtor5 are recognised at the settlement amount after ony trade dl$count offered. Prepayrnents are valued at ihe amount prepaid net any trade discounts due. Provlslons and credltors Provision for Ilabilitles are Made where the charity has a present obli83tlon at the end of year date as a result of a past event that w511 probably result in the transfer of fund5 to a third party and the value due to Settle the obligation can be rneasured or estlmated rellably. The provislon 6 reco8ni5ed at the fairest Settlement value. Creditors include expendlture that ha5 a legal or con5trurtive obligatlon that commlts the charity to make payment to a third party or it is probable that settlement will be required. This expendlture will relate to good or services provided In the past however the settlernent has nol taken place before the year end reporting date. Creditors a150 Include any deferred income the charlty has received for service5 not yet provided. 1131
THE BOPARAN CHARITABLETRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL sfATEMENTS IcoiinNUEOI YEAR ENDED 31 OECEMBER 2023 2 ACCOUNTING POLICIES IcoMririuEDI Fund accountlnR General funds are unrestricted whlch are avallable for use at the dlKretlon of the Trustees In furtherance of the general objectives of the Company and which have not been de518nated for other purposes. Investment Income, Balns and losses are allocated to the approprlate fund. ApplicatTron process The Boparan Charitable trust wants to help as many chlldren and young people a5 posslble and fully welcome5 applications from all sections of the cornrnunity. Each application Is thoroughly assessed to ensure it rneets the crlterla before beSng put before the declslon panel of Trustees. Crliltal accountlng estlmates and are•s of ludB•ment Preparatlon of ihe flnanclal statements has not required the Trustees to make any sl8nlflcant judgements or estlmates. There are no key assumptlons concernln8 the future and other key sour¢e5 of estimation uncertalnty at the reportin8 date that have a significant risk of causlng a mateilal adjustment lo the carrying amount of assets and1Sabilltles wlthln the next financlal year. 3 DONATIONS ANO LEGACIES Total 2023 Total 2022 Donation from Boparan Events Llmlted In relatlon to the Brlght Star Ball Other donatlDns 590.621 263,708 549,536 16,747 854.329 566,283 The Income frorn donatlons and legacies wa5 all unrestricted. 1141
THE BOPARAN CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONnNUEDI YEAR ENDED 31 DECEMBER 2023 4 OTHER TRADING ACTIVITES Total 2023 Total 2022 Gift Ald GAYE Project Iceman Shopping and Chrlstmas Quiz/raffle Sale5 and slte fund ralsin Golf Ladies Lunth London Marathon Footb311 tournament Trlke challenge Sky dlve Tap to donate Collectlon5 Aacedav Ironman 341 1,258 262 1,691 363 5,344 12.404 122 2.413 90 2,782 40 3,771 1,164 654 18 63 260 789 1,099 3,281 2,135 4,638 18,033 27,761 The Income from tradlnB actlvltles was 311 unrestrlcted. 5 EXPENDITURE ON RAISING FU14DS Total 2023 Total 2022 Brlght star ball Pro}ecl Iceman Other 78,436 12,437 2,284 1,440 78N36 16,161 1151
THE BOPARAN CHARITABLE TRUST IA company limlt?d by 8uaranteel NOTES TO THE FINANCIAL STATEMErirs ICONnNUEDI YEAR ENDED 31 DECE M8ER 2023 6 ANALYSIS OF GRANTS Totsl 2023 Total 2022 General household Household appllances Household furniture Treatments Sensory Items Disabllity aids Occupatlonal Physlcal Speech and language Other zoo ii.lso 8,191 269 39,458 18,154 227,214 10,424 7,634 23,421 5,903 60,923 18.075 346,334 7,655 7,216 10,291 3,754 465,598 340,712 7 CHARITABLE ACTIVITIES Total 2023 Total 2022 Grants (see note 61 Support and 8overnance Isee note 81 Community prolects 465,598 121,643 24.207 340,712 133,861 711.448 474.573 SiIPPORT COSTS General 5UPPOrt Governance Tolal Z023 Totsl 1022 Staff costs Marketin8 costs Insurance Bank charge5 Employee expense5 Books and training Vehicle costs Audit fee Legal and professlonal 183,655 dAsI 1.873 241 5,883 1,274 272 183.655 4,451 1,873 241 5,883 1.274 272 12.088 11,9D6 85.219 1,179 4,376 51 3.275 12.088 11,906 10,890 28,866 197,649 23.994 221.643 133.861 1161
TrIE BOPAIIAN CHARITABLE TRUST IA company Ilmlted by guaranteel NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI YEAR ENDED31 DECEM8ER2023 9 STAFF COSTS Total 2023 Total 2022 Gr0$5 wages National insurance costs Pension costs 156,919 18,786 7,gso 79.110 3,763 2,346 183,655 85,219 112022.. 01 employee received remuneration amountlng to more than £60,000 in the year. staff Numbers 2013 2022 Average monthly head count 10 TRUSTEES. ANO KEY MANAGEMENT REMUNERATION A14D EXPENSES The trustees neither recelved nor walved any remuneratlon or any other benefits from employment durlnB the year12022: £Nill. No Trustees expense5 have been incurred durlnB the perlod12022'. £NIII. K•y Management Personnel Key mana8ement personnel conslst of the Trustees and the Charlty Manager, remuneratlon totalled £142,98112022.' £49,845). 11 NET INCOmE/IEXPENDUREJ Total 2023 Totsl 2022 Nel incomellexpenditurel Is stated after charglng/lcredltln81.' Audltors remuneration IZ,088 10,890 1171
THE 8OPARAN CHARITABIE TRUST IA company Ilmlted by 8uarantoel NOTES TO THE FINANCIAL STATEMEpifs ICONnNUEDI YEAR ENDED 310ECEMBER 2023 12 DEBTORS 2023 2022 Trade debtors Other debtors Prepayments 443.221 47.500 2.211 239.850 1,936 492,932 241,786 13 CREDITORS 2023 2012 Trade credStors Accruals and deferred Incorne Other credltor5 62,378 456,354 52,274 46,873 348,088 S71.006 394,961 2023 2022 Deferred Income At l Januarv Resources deferred Arnounts released from prevlous perlods 26,449 26,449 14 FUNDS Balance 31 Oecember 2022 Balance 31 December 2023 Current perlod: Income Expendlture General funds 1,475,554 872,362 1789,8841 1.558,032 Prlty perlod: Balance 31 December 2021 Balance 31 December 2022 Income Empendlture General funds 1,372,244 594,044 1490,7341 1,475,554 1185
THE BOPARAN CHARITABLE TRUST IA company1Smlted by 8uaranteel NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI YEAR ENDED 31 DECEMBER 2023 IS NET ASSEfs BY FUNDS Unrestrlcted fvnds Cuffent perlod- 31 December 2023 Totol funds Current assets Credltors due withln one year 1,129,038 1571.0061 1,558.032 2,129,038 {571.0061 1,558,032 Pflor perlod- 31 December 2022 Unre5trlcted funds Total funds Current assets Credltors due wlthln one year 1,870,515 (394,961) 1,870.515 f394.9619 1,475,554 1,475,554 16 PENSION COMMrrMENTS The Charity operates a dÈflned contribution penslon scherne. The assets of the scheme are held separately from those of the Company In an Independently admlnistered fund. The penslon cost charge represents contrlbutlons payable by the 8roup to the fund amounted to £7,95012022'. £2.2831 were payable to the fund at the balance shèet date and are included In credltors. 17 RELATED PARTY TRANSAcfioNS Durlng the year the Trust recel¥ed a donatlon of £272,393 12022.. £262,393) from Bopèran Events Limlted. B K Boparan, a trustee of the charlty. Is a dlrector and shareholder of Boparan Events Llmlted and A Boparan is a dlrettor of Boparan Events Limited. At 31 Decernber 2023 an amount of £NIL12022: £NILI was due from Boparan Events Limited. During the year, a famlly member of a trustee donated £iO,00012022: £Nill to Boparan Charitable Trust, of which £lO,00012022'. £Nill is stlll outstanding at the year-end and is Included wlthin Trade Debtor5. During the year the charlty retelved donatlon5 totalling £11,91212022'. £2,765) from connected companles. At the year-end £5,75012022: £7501 is due to the charity and Is Included within Trade Debtors. 1191
THE BOPARAM CHAR ABLE TRUST IA ctynpany IlmitEd byBuaranteel NOTES TO THE FJf4ANCIAL STATEMEiffs ICONTIMUEDI YEAR ENDED 31 DECEMBER 2023 18 RECONCIUATION OF MOVEMENT IN FUNDS TO CASH FLOW FROM OPERATING AcrivtnES 2023 2022 Net Incomellexpenditurel for the year 82.478 103,310 Iincreasel In debtors Increase In credltors 1251,1461 176,045 1237,1861 23,980 7,377 1109,896 19 COMPANY LIME0 BY GUARANTEE The Boparan Charltable Trusl Is a tompany Ilrnlted by guarantee and has no share capital. In the event of the charity being wound up, the liability In respect of the 8uarantee 15 Ilmlted to £1 per member of the charlty. ID ULTIMATE CONTROLUNfj PARTY The charltable company Is under the control af It5 board of trustee5. 1201
APPENDIX-ADUIT ADJUSTMENTS AND UNADJUSTED DIFFERENCES REVENUE BALANCE SHEET £000 Surplus l {deficit} per pw-audlt trial b81ance 1.531 Late cli8nt adjustments fr.. Late s81eldebtor 47 47 Late purchaselaccrual (21) (21) Audit adjustments for.. None Identified SURPLUS I (DEFICIT) FOR THE YEAR 1,558 Adju6tment for transfers between funds NET MOVEMENT IN FUNDS FOR THE YEAR 1,558 UNADJUSTED DIFFERENCE5 IDENTIFIED REVENUE £000 BALANCE SHEET £000 Accw8d Income- to comeback and update once final figure r1Ved 111111 TOTAL IMPACT OF UNADJUSTED DIFFERENCES