2022-03-31-accounts - The Braunstone Foundation

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Trustees	Henry Thompson
	Elaine Halford
	Edward Rogers
	Timothy Morton
	Bethan Lloyd
	Geoffrey Stagg
Secretary	Angels Wright	(Chief Office)
Charity number	1139537
Company number	04029394
Registered oNce and Principal address	Business Box
	3Oswln Road
	Braunstone
	Leicester
	LE3 1HR
Auditor	David Mayfleld	FCA
	Mayfleld &Co.
	2 Merus Court
	Meridian Business Park
	Leicester
	LE191Rl
Bankers	Unity Trust Bank Pic
	Nine Brlndley Place
	Birmingham
	912HB
Solkitors	Welghtmans LLP
	71Princess Road West
	Leicester
	LE1STR

			Page
Trustees report			1-13
Trustees Responsibility		Statement
Independent	auditor's	report	15-17
Consolidated	statement offinancial activities		18-19
Consolidated	balance sheet		20-21
Charity balance sheet			22-25
Consolidated	statement	ofcash flows	24
Notes tothe	accounts		25-46

8-Inspired		utcome
Number ofSign ups
Number ofMen
Number Other
Number ofWomen
Economically Inactive
Job Outcomes
Education Outcomes	15

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			2022		2021
		Notes	6		6
Pined assets
Tangible assets				1,227,054		1,025,355
Investment properties				7,890,000		6,745,000
				9,117,054		7,770,355
Current assets
Debtors		16	86,646		62,812
Cash at bank and in	hand		1,225,571		1,231,255
			1,312,217		1,294,067
Credkors: amounts	falling due within one
year		17	(365,821)		(276,053)
Net current assets				946,396		1,018,014
Total assets less current gabllltles				10,063,450		8,788,369
Provisions for gabllltles				(524,000)		(826,000)
Net assets				9,539,450		7,962,369
Capital funds
Endowment funds		20		5,000,000		5,000,000
Income funds
Restricted funds		21		57,840		65,964
Unrestricted funds
Designated funds		23	465,288		433,493
General unrestricted	funds	22	4,196,334		3,148,924
Revaluation reserve			343,988		139,988
Pension reserve			(524,000)		(826,000)
				4,481,610		2,896,405
				9,539,450		7,962,369

			2022		2021
			6		5
Fixed assets
Tangible assets		13		1,227,054		1,025,355
Investment propertIes		14		7,890,000		6,745,000
Investments		15		1		1
				9,117,055		7,770,356
Current assets
Debtors			119,463		81,235
Cash at bank and In	hand		1,087,512		1,114,820
			1,206,975		1,196,055
Creditors: amounts	falling due within one
		17	(260,580)		(178,042)
Net current assets				946,395		1,018,013
Total assets less current gabgltles				10,063,450		8,788,369
Provisions for liabgltles		18		(524,000)		(826,000)
Net assets				9,539,450		7,962,369
Capkal funds
Endowment funds		20		5,000,000		5,000,000
Income funds
Restricted funds		21		57,840		65,964
UnrestrIcted funds
Designated funds		23	465,288		433,493
General unrestricted	funds	22	4,196,334		3,148,924
Revaluation reserve			343,988		139,988
Pension reserve			(524,000)		(826,000)
				4,481,610		2,896,405
				9,539,450		7,962,369

				2022		2021
				6	6	6
Cash flows from operating	activities
Cash (absorbed by)/generated		from operations			(5,983)		420,317
Income taxes paid
					(107)
Net cash Inflow from operating		activities			(6,090)		420,317
Investing activities
Investment income received						412
Net cash generated from/(used		In) immstlng	activities		405		412
Net cash used In financing	activities
Net (decrease)/increase In cash and cash equivalents					(5,685)		420,729
Cash and cash equivalents	at beginning ofyear				1,231,255		810,526
Cash and cash equivalents	st end ofyear				2,225,525		1,231,255

		Unrestricted	Restricted	Total	Unrestdcted	Restricted	Total
		funds	funds		funds	funds
		2022	2022	2022	2021	2021	2021
		E	8	E	E		E
Donations and gifts		7,806	371	8,177	9,103		9,103
Grants		91,008	234,009	325,017	365,405	193,088	558,493
		~eAII4	234,ua	585,191	514,sac	19K,IM	S67516,
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2022	2022	2022	2021	2021	2021
		E		6			E
Donations
General donations		7,806	371	8,177	9,103		9,103
Grants Receivable
Big Lottery Reducing Isolation
Fund			12,695	12,695		37,002	37,002
BigLottery Community	Fund
Work Uve Leicestershlre		63,256		63,256	53,236		53,236
Garfield Weston Fund					40,000		40,000
Job Retention Scheme				6,441	97,266	13,751	111,017
Power to Change Grant			145,999	145,999	30,000	123,014	153,014
Masonic Foundation			19,817	19,817		19,321	19,321
Leicester City Covid		21,311		21I311	63,241		63,241
Foodshare					41,134		41,134
Action Homeless			10,000	10,000
Police Crime Commissioner			12,014	12,014
Football Foundation			16,319	16,319
HAF Hogday Hunger Scheme			13,038	13,038
Other sundry grants			4,127	4,127	40,528		40,528
		91,008	234,009	325,017	365,405	193,088	558,493

		2022	2022	2022
		Unrestricted	Restricted	Total
Services Provided	Under Contract	362,509		362,509
Other Income		83,274	942	84,216
Advertising Income		840		840
Rent &Room Hire		934,277		934,277
		1,380,900	942	1,381,842
		2021	2021	2021
		Unrestricted	Restricted	Total
Services Provided	Under Contract	362,365		362,365
Other Income		74,551	1,036	75,587
Advertising Income		2,969		2,969
Rent &Room Hire		840,481		840,481
		1,280,366	1,036	1,281,402

		2022	2022	2022
		Unrestricted	Designated	Total
Interest	received	169	236	405
		169	236	405

		2021	2021	2021
		Unrestricted	Designated	Total
Interest	received	220	192	412
		220	192	412

6. Charitable acti	vities
		Charitable	Charltabk		Charitable	Charitable
		Activities	Activities	Total	Activities	Activities	Total
		Unrestricted	Restricted		Unrestricted	Restricted	2021
Staffcosts		630,269	131,287	761,556	559,623	206,258	765,881
Depreciation and
Impairment		2,300		2,300	2,709		2,709
Premises costs		384,430	50,397	418,508	293,229	5,318	298,547
Motor and travel		2,857		2,857	968	42	1,010
Legal and professional	fees	16,892		16,892	10,870	2,250	13,120
Prolect activity and
equipment costs		94,190	53,862	148,052	105,036	9,496	114,532
Suppges and services		11,316	4,402	15,718
Irrecoverable input VAT		41,254	3,498	44,752	46,104	1,117	47,221
Bank charges		3,545		3,545
Bad debts		1,076		1,076
Rebates due totenants		39,771		39,771
		1,183,781	243,446	1,427,227	1,018,986	224,481	1,243,467
Share ofgovernance	costs
(see note 9)		81,536		81,536	70,274		70,274
		1,265,317	227,127	1,508,763	1,089,260	224W1	1,313,741
Analysis by fund
Unrestricted funds		1,163,654		1,163,654	1,077,462		1,077,462
Designated funds		101,663		101,663	11,798		11,798
Restricted funds			243,446	243,446		224,481	224,481
		1,265,317	227,127	1,508,763	1,089,260	224,481	1,313,741

Cost ofg	enerating fun	ds
							Total	Total
					Unrestricted	Restricted	2022	2021
					6	8	8	8
Staff costs					138,749		138,749	141,825
Premises	costs				99,065		99,065	71A02
Legal and	professional	fees			2,623		2,623	2,160
Supplies and services					40,160		40,160	50,023
					280,597		280,597	265,410
Support costs
			Support costs	Governance	2022	2021
				Islets
			8	8
Staffcosts				59,536	59,536	47,774
Audit and	accountancy	fees
				22,000	22,000	22,500
				81,536	81,536	70,274
Analysed	between
Charitable	activities			81,536	81,536	70,274

Employment costs	2022	2021
	8	8
Wages and salaries	734,111	769,799
Social security costs	52,899	58,244
Other pension costs	127,437	127,437
	915,722	955~0

The	number of employees
		2022	2021
		Number	Number
Band	660,000to 670,000
Band	680,000to690,000

Unrestricted	Total
funds
2022	2021
1,145,000

Investment property (Grou	p and Charity)
		2022
		6
Fair value
At1April 2021		6,745,000
idet gains or losses through	fair value adjustments	1,145,000
At 31March 2022		7,890,000

Cost or valuation
At 1Aprg 2021 Ik31March 2022
Carrying amount
At31March 2022
At 31March 2021
			2022	2021
Other investments	comprise:	leutes
Investments In subsidiaries		26

			Group	Group	Charity	Charity
			2022	2021		2021
Amounts	faglng due within one year:		6	6	E	6
Trade debtors			86,646	52,162	57,689	18,002
Amounts	due from subsidiary	undertakings			61,774	55,609
Other debtors				10,650		7,624
			86,646	62,812	119,463	81,235

			31/03/2022	S1/OS/2021
			(EOOOs)	(EOOOs)
Fair value ofplan assets			3,516	3,328
Present value ofdefined	benefit	obligation	4,040	4,154
Surplus (deficit) In plan			(524)	(826)
Unrecognised surplus
Defined benefit asset (Rabillty)		to be recognised	(524)	(826)
Deferred tax
Net defined benefit asset	(liability) to be recognised		(524)	(826)

					31/03/2022
					(EOOOs)
Defined	benefit obligation at start ofperiod				4,154
Cunent service cost
Expenses					4
Interest expense					90
Member	Contributions
Actuarial	losses (gains)	due to scheme	expedience		207
Actuarial	losses (gains)	due to changes	In demographic	assumptions	(63)
Actuarial	losses (gains)	due to changes	in financial assumptions		(295)
Benefits	paid and expenses				(57)
Uabllltles	acquired in a	business combination
Llablfities	extinguished	on settlements
Losses (gains) on curtailments
Losses (gains) due to benefit changes
Exchange	rate changes
Defined benefit obligation at end ofperiod					4,040

			Period from 31
			March 2021to
			31March 2022
			(EOOOs)
Fair value of plan assets at start ofperiod			3,328
Interest income			73
Experience on plan assets (excluding amounts	included	in interest
income) - gain (loss)			75
Employer Contributions			97
Member Contributions
Llablgtles acquired In a business combination			(37)
Assets acquired in a business combination
Assets distributed on settlements
Exchange rate changes
Fair Value ofplan assets at end ofperiod			3,516

				Period	from	31
				March	2021	to31
				March 2022
				(EOOOs)
Current service cost
Expenses						4
Net interest expense					17
Losses (gains) on business combinations
Losses (gains) on settlements
Losses (gains) on curtallments
Losses (gains) due to benefit changes
Defined benefit costs recognised	in statement	ofcomprehensive	income
(SDCI)					21

					Period from	Period from
					SiMamh	2021
					toSlMarch
					2022
					(6000s)
Experience on plan assets (excluding amounts included in net interest cost)-
gain (loss)						75
ExperIence gains and losses arising on the plan liabilities - gain			(loss)			(207)
Effects ofchanges in the demographic assumptions	underlying		the	present
value ofthe defined benefit obligation - gain (loss)
Effects ofchanges in the financial assumptions underlying		the	present value of
the defined benefit obggation -gain (loss)						295
Total actuarial gains and losses (before restriction	due to	some ofthe surplus
not being recognlsable) - gain (loss)						226
Effects ofchanges In the amount ofsurplus that is	not recoverable			(excluding
amounts Included In net Interest cost) - gain (loss)
Total amount recognised in other comprehensive	Income	- gain (loss)				226

18. Defined Benefit	Pension Scheme Continued
ASSETS
		31/03/2022	31/03/2021
		(6000s)	(6000s)
Global Equity		675	531
Absolute Return		141
Distressed Opportunities		126	96
Credit Relative Value		117	105
Alternative Risk Premia		116	125
Fund of Hedge Funds
Emerging Markets Debt		102	134
Risk Shadng		116	121
Insurance-Linked Securities		82
Property		95
Infrastructure		250	222
Private Debt		90	79
Opportunistic llllquld	Credit	118	85
High yield		30
Opportunistic Credit		13
Cash		12
Corporate Bond Fund		235	197
Liquid Credit
Long Lease Property		90	65
Secured Income		131	138
Uablllty Driven Investment		981
Currency Hedging		(14)
Net Current Assets		10	20
Total Assets		3,3516	3,328

EYASSUM	PllONS
			31March 2022	31March 2021
			%per annum	%per annum
Discount	Rate		2.79%	2.17%
Inflation	(RPI)		3.57%	3.28%
Inflation	(CPI)		3.19%	2.86%
Salary Growth			4.19%	3.86%
Allowance	for commutation	ofpension for cash at	75%ofmaximum	75%ofmaximum
retirement			allowance	allowance

			Ufe expectancy
			atage 55
			Iyearsi
Male retiring	in	2022	21.1
Female rebring		in 2022	23.7
Male regdng	in	2042	22.4
Female retiring		in 2042	25.2

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27. Cash generated	27. Cash generated	from operations	from operations	from operations
								2022	2021
								6	6
Surplus for	the year							1,071,081	270,259
Ad]ust ments	for:
Taxation
									12
Investment	income	recognised		in statement		offinancial	activities
								(405)	(412)
Fair value gains and		losses on	Investment		properties
								(1,145,000)
Depreciation	and impairment		oftangible		fixed assets
								2,300	2,709
Movements	in working capltah
(Increase)/decrease		in debtors						(29,968)	155,466
Increase/(decrease)		In creditors						96,009	(7,717)
Cash (abso*ed by)/generated				from operations				(5,983)	420,317
28. Analysis ofchanges In net				funds