Company registration number: 06852304 Charity registration number: 1129992 THE BOPARAN CHARITABLE TRUST (A company limited by guarantee) ## TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 THE BOPARAN CHARITABLE TRUST (A company limited by guarantee) TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Trustees A Boparan (Chairman) B Boparan K Macdonald Porter Cornpany reglstered number 06852304 Charlty rezbtered nurnber 1129992 Reglstered office Colmore Court 9 Colmore Row Birmingham 83 28J Independent Audltors Cooper Parry Group Limited Office 401, 4th Flo)r Cubo Birmingham Two Chamberlaln Square Birmlngham B3 3AX Bankers Bank of Scotland 55 Temple Row Birmingham B25LS THE BOPARAN CHARITABLE TRUST (A company limited by guarantee) TRUSTEES. ANNUAL REPORT YEAR ENDED 310ECEM8ER 2024 The Trustees present their annual report together with the audited financial statements of the Company for the year ended 31 December 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. TheTrustees confirrn that the Annual report and financial statements of the charitable company omply with tlie current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021 leffective l January 20191. Since the Company qualifies a5 Small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 Istrategic Report and Directors, Report) Regulations 2013 has been omitted. Trustees of the Charty The directors of the charitable company are its trustees for the purpose5 of charity law. The trustees who have served during the year and since the year end were as follows,. A Boparan Ichairmanl B 8oparan K Macdonald Porter Objertlves and artlvftles Pollcles and objectlves The objectives of the charitable company are to help children and young people, up to their 19th birthday, across England and Wales, who are disadvantaged elther through disabilitie5, life limiting condition5 or extreme poverty. The Trustees confirm that they have referred to the 8uidance contained in the Charity Commission'5 8eneral guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activitie5 and setting the grant making policy for the year. In setting obJectives and plannin8 for actlvities, the Trustees have given due consideration to general guldance published bv the Charity Commission relating to public beneflt, Includin8 the guidance 'Public benef It: runnlng a charity IP821'. StrateEles for achievlng objertlves The charity has remained operational throughout the year and it is now that fundraising has become the strategic priority. As there 15 a great call on the charity's resources by beneficiaries. Artivitles undertaken to achleve objectlves In 2024 the charity under took its most ambitious programme of fundraising activitie5, which included abseilin& international charity boxing with New York police and Australian police and the Raj Aggrawal golf and family day. Maln artlvlties undertaken to further the Company's purposes for the public beneflt The objectives of the charitable company are to help children and young people, up to their 19th birthday, across England and Wales, who are disadvantaged either through disabilities, life limiting conditions and extreme poverty. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on publit benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. THE BOPARAN CHARITABLE TRUST (A company limited by guarantee) TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Achievements and performance Maln achievements of the Cornpany The incoming resources of the Trust for the year to 31 December 2024 amounted to £1,517,43812023- £872,362), £106,79012023.' £78,436) was expended for raising fund5, £798,11612023.' £711,448) was absorbed by charitable activitie5 including £21,25512023: £23.9941 absorbed by governance costs leaving net incoming resources for the vear of E612,53212023.' £82,478). The 8oparan Charitable Trust ha5 experienced a positive period of growth over the past twelve months. Delivering core events to a high standard and laying foundations for growth in the years ahead. Our application5 continue an upward curve with a growth 19.01%, this wa5 due to the c05t-of-living crisis hitting the UK. A big focus for the charity remains keeping applications open and to keep our applications accessible to as many beneficiaries as possible. Throughout the year we have helped 562 individual children with funding for speciallst equipment, essential therapies for disabled children and household necessities to support familles In poverty havSn8 Increased our support for individual chlldren for thi5 perS0d. Our key fundraising activltSes for the charity exceed expectations, starting Wlth our football tournament at the Emirate5 Stadium, golf tournament at the Belfryi a special dragon boat racln8 partnershlp and our flagshlp fundraiser the Bright Star Ball toward5 the end of the year. Flnanclal revlew Goln8 concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concern basis in preparing the flnanclal statements. Further detai15 regardin8 the adoption of the going concern basis can be found In the accounting pollcles. ReseNes pollcy It is the policy of the Trustees to maintain the free reserves lunrestrlcted funds not committed or invested in tangible fixed assets) at a level to provide sufficient fund5 in reserves to meet the future anticipated demands on the Trust's resources. Having regard to the likely levels of incoming resource5 and direct charitable expenditure, the Trustees are Satisfied that the fund5 and assets at 31 December 2024 as reflected in the balance sheet are available and adequate for the Trustees to fulfil the obligations of the Charity and maintain its operations. Free reserves held at 31 December 2024 were £2,170.56412023- £1,558,032). Plans for future perlods The Boparan Charitable Trust continues to develop an enviable line-up of events for the coming twelve months with the addition of significant in aid of events, major individual challenges. In addition to recruiting a charity assistant to aid with applications and fundraising. THE BOPARAN CHARITABLE TRUST (A company limited by guarantee) TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Structure, govemance and management Constitution The Boparan Charitable Trust is registered as a charitable company limited by guarantee and was set up by a Trust deed. Methods of appolntment or elertlon of Trustees The management of the Cornpany is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Financlal rlsk management Having regard to the Trust's organization and activities, it is the view of the Trustees that the major risks to which the Trust may be exposed are largely financial in nature. Systems of internal control provide reasonable assurance against material misstatement or loss and they include: Regular review of the financial results of the charity Segregation of duties Procedures for the authorizatlon of all transactions and projects Identification and management or risks The Trustees continue to be vigilant and to keep processes under review to ensure that the major risks to whlch the charity is exposed are mitigated. New trustees undergo appropriate orientation to brief them on their legal obligations under charity and company law, the content of the charity's trust deed, the deci5ion-making processes. the busine55 plan and recent finantial performance ofthe charity. Trustees, Indemnltles AUM on Behalf of Liberty Mutual Europe SE Trustees, responslbllltles The Trustees (who are also the directors of The Boparan Charitable Trust for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and regulations. Company law requires the executlve committee to prepare financial statements for each financial year that give true and fair view of the state of affairs of the charity and ot the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial Statements the executive committee are required to: Select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP,. makejudgments and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustee5 are responsible for keeping adequate accounting records that are sufpicient to show and explain the charitable companrfs transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. THE BOPARAN CHARITABLE TRUST (A company limited by guarantee) TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 Tru5tees' responsibilitie5- Contlnued The trustees are responsible for the maintenance and inte8rity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparotion and dissemination of financial statement5 may differ from legislation in other jurisdictiori5. D15closure of informatlon to the auditors We. the directors of the company who held ofFice at the date of approval of these Financlal Statements as set out above each confirm, so far as we are aware. that: there is no relevant audit information of which the company'5 auditors are unaware; and We have taken all the steps that we ought to have token as directors in order to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. Audltor The auditors, Cooper Parry Group Ltd, will be proposed for re-appolntment at the forthcomln8 Annual General Meetlng. This report has been prepared In accordan¢e wlth the speclal provlslons of P8rt 15 of the Companies Act 2006 relatin8 to small companles. Th55 report was approved by the Board of Trustee5 on by: Po (..&.1.7-..$..................................... and slgned on Its behalf A Boparan Chairnian INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BOPARAN CHARITABLE TRUST Opinion We have audited the financial statements of The Boparan Charitable Trust for the year ended 31 December 2024 which comprise the Statement of Financial Activities. the Statement of Financial Position 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 financiol 5tatements'. give a true and fair view of the State of the charitable company's affairs as at 31 December 2024 and of it5 incoming resource5 and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirement5 of the Companie5 Act 2006. 8asls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors 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 audlt of the financlal statements in the UK, includin8 the FRC'5 Ethical Standard, and we have fulfilled our other ethScal responsibilltles In accordance wlth these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate to provlde a ba515 for our oplnlon. Concluslons relatlng to ioln8 concern In auditing the financial statements, we have concluded that the trustees, use of the 80in8 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 event5 or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a 80ing concern for a period of at least twelve months from when the financial statements are authorlzed for Issue. Our responsibllltles and the responsSbllSties of the trustees with respect to going concern are described in the relevant sectlons of thi5 report. Other Inforniatlon The trustees are responsible for the other information. The other information comprises the information included in the annual report, other thon the financial staternents and our Report of the Independent Auditors thereon, Our opinion on the financial statement5 does not cover the other information and we do not express any form of a55urance 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, 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 on in this regard. Oplnlon on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees (incorporating the Strategic Report) foi the financial year for which the financial statement5 are prepared 15 consistent with the financial statefflents,. and the Report of the Trustees (incorporating the Strategic Report) h05 been prepared in accordance with applicable legal requirements. INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF THE BOPARAN CHARITABLE TRUST Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the Report of the Trustees lincorporating the Strategic Report). We have nothlng to report in respect of the following matters where the Companie5 Act 2006 require5 US to report to you if. in our opinion- adequate accounting records have not been kept or returns adequate for Dur audit have not been received from branches not visited by us,. or the financial statements are not in agreernent with the accounting record5 and returns,. or certain disclosures of tru5tees' remuneration specified by law are not made: or we have not received all the information and explanations we require for our audit. the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the Tru5tees' Annual Report and from the requirement to prepare a Strategic report. Responslbllltles of trustees As explained more fully in the Statement of Trustees Responsibilities, the trustees Iwho are also the directors of the charitable tompany for the purpose of company lawl are responsible for the preparation of the financial statements which 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 responslble for assessing the charitable company's ablllty to continue as a going concern. disclosingfft a5 applicable, matters related to going concern and using the 80ing concern 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. Our responslbllltle5 for the audft of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free f rom material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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 IUKI will always detett a material misstatement when it exists. Misstatements can arlse from f raud or error and are considered material if, individually or in the aggregate, they could reasonablv be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are Instances of non Costs of raising funds > Expenditure on charitable activities Expenditure 15 accounted for on an accruals ba515. Irrecoverable VAT 15 charged as an expense against the activity for which expenditure arose. 1121 THE BOPARAN CHARITABLE TrUST {A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {CONnNUEDI YEAR ENDED 31 DECEMBER 2024 2 ACCOUNTING POLICIES ICONTINUEDI Allocation of support costs Support costs are the cost of the functions that are essential to assist and support the work of the charitable company but do not directly undertake in the charitable activities. Support costs include salary cost for employees coveri ng a range of back office costs including payroll, finance, human resources and governance. Non salary costs are also included. The support cost5 have been allocated according to project location, where the function is shared across projects the costs have been allocated according to the number of direct hours per project. Grants payable are ¢har8ed in the period when the offer Is made except in those cases where the offered is conditional, such grants belng recognised as expenditure when the conditions attaching are fulfllled. Grants offered subject to conditions which have not been met at the period end are noted as a commltments, but not accrued as expenditure. The trust beneflts frorn the involvement and support of volunteers. Volunteer time Is not recDgni5ed as donated income as per the Charities SORP IFRS 1021. Penslons The charitable company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charitable company to the fund in respect of the period. Taxatlon The charitable company is exempt from corporation tax on its charitable activities. Cash at bank and In hand Cash at bank and in hand is primarlly held to meet short term cash commitment5 as they fall due rather than for investment purposes. Currently the charitable company does not have any investment accounts. Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net any trade discount5 due. Provlslons and Credltors Provision for liabilities are made where the charitable company has a present obligation at the end of year date as a result of a past event that will probably result in the transfer of funds to a third party and the value due to settle the obligation can be measured or estimated reliably. The provision is recognised at the fairest settlement value. Creditors include expenditure that ha5 a legal or constructive obligation that commits the charitable company to make payment to a third party or it is probable that settlement will be required. This expenditure will relate to good or services provided in the past however the settlement has not taken place before the year end reporting date. Creditors also include any deferred income the charitable company has received for services not yet provided. [131 THE BOPARAN CHARITABLE TRUST (A company limlted by 8uarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI YEAR ENDED 31 DECEMBER 2024 2 ACCOUNTING POLICIES ICONTINUEDI Fund accountlng General funds are unrestricted which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Appllcatlon process The 8oparan Charitable trust wants to help as many children and young people as posslble and fully welcomes appllcatlon5 from all sectlons of the community. Each application is thoroughly assessed to ensure It Meets the criteria befare being put before the decision panel of Trustees. Crltlcal accountlng estimates and area5 of judgement Preparation of the flnanclal statements has not required the Trustees to make any slgnific3nt judgements or estimate5. There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have 3 significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year. 3 DONATIONS AND LEGACIE5 Total 2024 Total 2023 Don3tion from Boparan Events Llmited for the Brlght Star Ball Other donation5 from the Bright Star Ball Other donations 315.285 931,127 6.527 263,393 590,621 315 1.252.939 854.329 The Income from donations and legacies was all unrestricted. 114] THE BOPARAN CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI YEAR ENDED 31 DECEMBER 2024 4 OTHER TRADING ACTIVITES Total 2024 Total 2023 Gift Aid GAYE Golf event Football tournament Other events 201 15,023 58.781 187 104,837 341 1,258 2,413 1,099 12,922 179,029 18,033 The income from trading actlvltles was all unrestricted. 5 EXPENDITURE ON RAISING FUNDS Total 2024 Total 2023 Bright star ball 106,790 78,436 106,790 78,436 1151 THE BOPARAN CHARITABLE TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI YEAR ENDED 31 DECEMBER 2024 6 ANALYSIS OF GRANTS Total 2024 Total 2023 General household Household appliances Household furniture Treatments Sensory Items Disablllty aids Occupational Physical Speech and language Other 193 7.929 554 {11,273) 12,263 432,110 15,100 1,092 9,246 71,056 200 11,150 60,923 18,075 346,334 7,655 7,216 10.291 3, 754 538.270 465,598 7 CHARITABLE ACTIVITIE5 Total 2024 Total 2023 Grants (see note 61 Support and governance (see note 81 Community projects 538.270 259.846 465,598 221,643 24,207 798.116 711,448 8 SUPPORT COSTS General support Governance Total 2024 Total 2023 Staff costs Marketing Costs Insurance Bank charges Employee expenses Books and training Vehicle c05ts Audit fee Legal and professional 217.871 11,614 3,932 469 2.717 1.988 217,871 11,614 3,932 469 2,717 1,988 183,655 4.451 1,873 241 5,883 1,274 272 12,088 11,906 12.910 8,345 12,910 8,345 238,591 21,255 259,846 221.643 1161 THE BOPARAN CHARITABLE TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2024 9 STAFF COSTS Total 2024 Total 2023 Gross wages National insurance costs Pension costs 186,106 21,411 10.354 156,919 18, 786 7,950 217.871 183,655 112023: 11 employee recelved remuneration amounting to more than £60,000 in the year. Staff Numbers 2024 2023 Average monthly head count 10 TRU5TEES' AND KEY MANAGEMENT REMUNERATION AND EXPENSES The trustees neither received nor waived any remuneration or any other benefits from employment during the year12023: £Nill. No Trustees expenses have been Incurred during the period {2023: £Nill. Key Management Personnel Key management personnel con5i5t of the Trustee5 and the Charity Manager, remuneratlon totalled £169,35112023: £142,981). 11 NEf INCOME/(EXPENDrruRE) Total 2024 Total 2023 Net incomellexpenditurel is stated after charging/lcredltin81', Auditors remuneration 13.500 12,088 [17] THE BOPARAN CHARITABLE TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI YEAR ENDED 31 DECEMBER 2024 12 DEBTORS 2024 2023 Trade debtors Amounts due from related parties Other debtors Prepayments 480,31S 17,625 19,177 3.752 443,221 47,500 2,211 520.869 492,932 13 CREDrroRS 2024 2023 Trade creditors Accruals and deferred income Other creditors 10,729 471.704 62,378 456,354 52,274 482.433 571,006 2024 2023 Deferred income At l January Resources deferred Amounts released from previous periods 26,449 28,253 (26,449) 26,449 28.253 26,449 14 FUNDS Balance 31 December 2023 Balance 31 December 2024 Current perlod: Income Expendlture General funds 1,558,032 1,517.438 1904,906) 2,170,564 Prior period: Balance 31 December 2022 Balance 31 December 2023 Income Expenditure General funds 1.475,554 872,362 {789.8841 1,558,032 1181 THE BOPARAN CHARITABLE TRUST IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI YEAR ENDED 31 DECEMBER 2024 15 NEf ASSETS BY FUNDS Unrestricted funds Current perlod- 31 December 2024 Total funds Current assets Creditors due within one year 2,652,997 1482,433} 2,170,564 2,652,997 1482,433) 2,170,564 Prlor perlod- 31 December 2023 Unrestrlcted funds Total funds Current assets Creditors due within one year 2,129,038 (571.006) 2,129.038 (571,006) 1,558,032 1,558,032 16 PENSION COMMITMENTS The Charity operates a defined contribution pension scheme. The asset5 of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund amounted to £10,35412023'. £7,950). 17 RELATEO PARTY TRANSACTIONS During the year the Trust received a donatlon of £314,00012023: £272,393) from Boparan Events Limited. B K Boparan, a trustee of the charity, is a director and shareholder of Boparan Events Limited and A Boparan is a dlrector of Boparan Events Llmited. At 31 December 2024 an amount of £NII12023: £NILI was due from Boparan Events Limited. Durin8 the year, the charity received donatlons of £8,26512023: £Nill from A Boparan, a Trustee. At the vear end £8,26512023: £Nilll was due to the charity and was included within Trade Debtors. During the year, the charity received donations of £5,00012023: £Nill from B K Boparan, a Trustee. At the year end £5,00012023'. ENilll wa5 due to the charity and was included within Trade Debtors. During the prior year, a family member of a trustee donated EIO,000 to Boparan Charitable Trust, of which £IO,ODO was still outstanding at the year-end and was included within Trade Debtors. This was received in the year and no balance is outstanding at the year end. No such donation has been received in the current year. During the year, the charity received donations totalling £11,200 12023.. £11,912) from connected companies. At the year-end ENil12023-. £5,750) was due to the charity and was included within Trade Debtors. During the year, the charity incurred expenditure of £3,30412023'. £Nill with a connected company, of which £Nil12023.' £Nill was outstanding at the year-end. [19] THE BOPARAN CHARrrABLE TRUST (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) YEAR ENDED 31 DECEMBER 2024 18 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING AcfiviTIES 2024 2023 Net income/lexpenditurel for the year 612.532 82,478 Investment income Ilncreasel in debtors IDecreasel/increase (85.470) (27,937) (88,5731 1251,146) 176,045 410.552 7,377 19 COMPANY LIMITED BY GUARANTEE The Boparan Charitable Trust Is a company Ilmited by guarantee and has no share capital. In the event of the charity bein8 wound up, the liablllty In respect of the guarantee is Ilmlted to £1 per member of the charity. 20 ULTIMATE CONTROLLING PARTY The charitable company is under the control of its board of trustee5. [20]