Charity Registration No. 1139537 Compary Registration No. &1029394 IEngland and Wales) THE BRAUNSTONE FOUNDATION ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE BRAUNSTONE FOUNDATION LEGALAND ADMINISTRATIVE INFORMATION Trusttès Henry Thomp9)n Edward Roger5 Timothy Morton Geoffrey Sta88 Michael Moreton Emma Souihern Secretary Angela Wright (Chitf Ofli¢erl Charlty number 1139537 Company number 04029394 Re8lst•red offi¢e •nd prIncI￿1 address Busin￿$ 8ox 3 05win ftoad Bravn￿One Leicester LE3 IHR Audlior Thoma5 Maylield 8A FCA Mayfield & Co. 2 Merus Court Meridian Business Park Leicester LE19 IKI Bank*rs Unity Trust Bank PIC Nine Brindley Place 8irmin8ham 812HB Sollcltors Extello Law Gresham Works 38 Market Stre Letcester LE16DP THE BRAUNSTONE FOUNDATION CONTENTS P￿e Trustees report 1-15 Trusteès Responsibility Statemènt 16 Independent auditor's report 17-19 Con501idated statement of financial activities 20-21 Consolidated balance sheet 22-23 Charity balance sheei 24-2S Con501idated statement of cash flows 26 Notes to the accounts 27-49 THE BRAUNSTONE FOUNDATION TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report and fvnancial statements for the year ended 31 March 2025. The account5 have been prepared in accordance with the accountin8 policies set out in note I to the xcount5 afid comply with the charf(y'5 Eoverning ￿￿umeTht. the Companies Art 2(K)6 and "Actounting and Reporting by Charities.. Staternent of Recommended Prattice applicable to charities preparin8 their accounts in accordance with the Financial Reportin8 Siandard applicable in the UK and Republic ol Ireland IFRS 1021- las amended for accountin8 periods commencing from l January 20161. Oblectbves and actlvlties The Braunstone Foundation'5 charitable object5 are to promote for the benefit ol the public, urban re8enèration Sn areas ol social and economic deprivation land in panicular in Braun5tonel by all or any of the following means... the relief of those tn need, by reason ol youth. a8e. ill-health. disability. financial hardship or other disadvanta8e5.' the reliel of unemployment.. the advancement of education and training: the creation of employment and buyness Opportunities through the provision of advice. workspace. buildings, andlor land lor use on favourable terms.. the provision ol housing fof th￿ who are in conditions ol need and the Impfovemeni ol housin8 In ihe public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or tmprove housing: the preservation of buildin85 Of sites of historic or architertural importance: the provislon of recreatlonal facilliles for the public ai lar8e or those who by reason of their youth, a8e, Infirmity or disablement, financial hardshlp or social and economlc circumstances. have need ol such facilities.. the protection or conservation of the environment.. the provision ol public health l¥ilities and ¢hild¢are.' the promotion of public safety and preventron of crime: and the development of the capacity and skills ol the members of the community in such a way that they are beller able to identify, and help meet. their needs and io panicipate more lully in societv. The promotion of any othèr retognisable charitable purposes. During the year to 31 March 2025, the Foundation sutCÈS5fully delivered its work pro8famme and continued to develop as charitable body for the benefit ol Braunstonè and the City of Leicestef. How our SepA￿S dell¥er publlc benefit: The trustees have paid due regard to ihe Charity Commission guidance on public benefit reportin8 in decidin8 what activities the charity has undertaken this year. Our Vision o be the Community Anchof fof Braunstone, now and in the future, able to support our neighbourhood and its Cltizens to reach full potential by hamessing it5 Strengths and respondingto tts needs. By makin8 a difference.- The Foundation has continued to manage its a55ets to provide benefits to the local area and has. throu8h a range of service5. focused on continuing the inve5trnent rnade Irom previou5 regeneration investment programmes. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT (CONTINUED)IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Foundation has locussed on.. ensuring that the assets held were managed and protetted appropriately for the benef¢t of the people of Braunstone.. • maximisin8 the intome-genefateil from these assets and mana8in8 these lunds for the benefit ol 8raunstone'. ttractin8 additional fundin8 into the area.. dellvering services on behalf of and for the benefit of residents in 8raun5tone. ensuring that the NDC legacy 15 secured and maintained: and continuing to ensure the urban renewal and neighbourhood re8eneration proce$5 in Braunstone is sustained in the long- term. In effect, the Foundation performed the role ol a local Community Anchor Organisation. Achlevements and Performan¢e B Ildln During 2024125 The 8raunstone Foundation owned and mana8ed six key buildings. alon8 Wlth four houses, and also leased two buildings from Leicester City Council Iihe Braunstone Park Lod8e on a 125-year lease airan8ement and the Community Asset Transfer of the Grove Community Hub with an inttial 25 year leastl. Our full list ol buildings is below.. BusSness Box The Business Box is located in the Braunstone Business Zone Ioswin Road) and is a"mana8ed office-spate"152 olfices for rent). with meeting rooms. Vinual Tenancy package5 and a range of cvstomer support services. The facility Is operated under the activities of B-lnspired Tradin8 Company Ltd. During the accountin8 period, 2024125 the results from the business artNlry at the Business Box have remained strong with another increase in turnover on the previous year. following on from rhe previous five years of steady 8rowth, year-on-year. This performance allowed lor a donation to thè 8raunstone Foundaiion chaiity 01 £9).844 durin8 thè year, along with management fees paid toralling £135.196 This financial pèrformance has allowed further invesiment inio the Sinkin8 Fund lor the Tradin8 Company. whiih we set-up 2 vears è80, which allows a quarterly sum to be deposited in readiness for planned repair and up8rade work and stood at £13.000 to thè end of quarter 4 2024125. The facility ha5 remained popular with small bu￿neSseS and throu8hout the 2024125 period thè ¢xcupancy levels peaked at 100% and never tell below 89%. We have also been pleased with the continued buoyancy in meeting room usa8e and income. The trading activities havè been guided by a 3wear Business Plan startin8 in April 2023 and this second year ol the plan has shown a solid performance. Followin£ the implementation ol a Customer Relationship Management System ICRMI in 2023, the team has continued to streamline operations and reduce paper-based processes by Uiilisin8 a single portal forcreatindrenewing leases and contract5.' computerised entrylexit process and foom bookings with associated automated invoicing. Alongside this, following the refresh and rfrlavnch of the Business BoX website in 2024. by our provtder5 It5'eeze web Design, this has iontinued to reap rewards through more user traffic online and rnore sales conversions. The re-packaged pricing structure and ability to process enquiries through to Si8n-up diettally. ha5 speeded up sales and services. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT (coMfiNUED}(INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Cts-working space created last year has 8radually iThtreased in popularity. with regular users. This is a very useful add-on lor some of our virtual tenants and indeed physical tenants. who need flexible space to increase staff capacity ai 5horr notice. The revamped Virtual Tenancy offer. which enables a much clearer and simpler offer which can be applied for direttly from the website, has proved successful. Much of thi5 digit15ation and revamping has come as a result of our investment in mèrketin8 and the engagement ol a new Marketing agency (Creative in Timèl. whom the Board of Direciors of rhe Tradin8 Company have been very Satisfied with in 2024125. They were able to comè *n and undertake a review ol ovr produtts and services and advise on chan8es to simplify and improve,. and then intre35e our brand awareness Via muliiple channels and help d¥Ne web51te growth and sales. The Board once again take5 this OPPOnuniry io acknowle¢J8e the crucsal role the trading activities take in raisin8 funds for the work ol the charity. And thank the team at the Business Box for¥ll their incredible hard work and commitment and congratulate thern on their resu￿$ durin8 2024125. Buslness Box + This is made up of Uftits 3 & 4 Forest Business Park based in the Bfaunstont Bu5ine5s Zone and the Bravnstone Park lodge Iwhith wa5 brought into the investment property portfolio durin8 2017 1011gwing rhe operational review of building u5agel. these are seèn a5"8row-on' office-spaces to the Business Box. These fatilities a150 operate under the attivities of the b inspired Trading Company Limited. Both units and the Braunstone Park lodge have been mainly fully occupied duftn8 2024125. with 8ood in¢ome returns. Braunstonè Htalth and Socbal Care Centre IN￿11e¥ Fami Road. Braunsiontl The charity has had the lull ownership and management ol the Bfaunstone Health and Social Care Centre since 2018. The building represents the Single lar8est asset ol the charity in terms of valuè. It was transferred into the ownership of the tharitv by way ol a capital endowmeni of £5mil. The Braunstone Health and Social Care Centre was funded and buili wirh New Deal for Communities grant and has provided rental income since 2010 under an agreement. as a legacy of ihe New Deol for Broun5tone. The buildin8 was owned and rnana8ed by è third party. PA HgU5in8 Group Ilormerly LHA then Asral. until 2018. The buildirng has two main anchor tenat)ts who have 25-yeai leases. the NHS and Leicester City Council, alon8 Wlth a third small ienant - Apple a Oay Calé. The Foundation mana8es the buildin& which houses a lar8e GP Practice. Pharmacy, Café, a wide range of NHS clinics and office ￿cOMmOdation for NHS and Leicester City Council teams, deliverin8 health and social care services. During 2024125 our facilities managemenl tèam hzve maintained the efficieni runnin8 of ihe buildin& ensurin8 the good and sale upkeep ol the building for the benefit of patients. visitors and ihe many staff teams based there. The 8oard of Trustees once again wishes to take this opportunity to thankihe team for all thèir hard work durin8 the past year. Gallards Hill Offites Duiing 2024125 the building at Gallar(Js Hill was useLI by the charity to house the Neighbourhood Support Team delivering the Braunstone Foodshare IFoodbank & Pantry), Braunstone Btrfriendin8 Scheme, Wellbeing pro8ramme, outreach la£ilitie5 lor welfare and debt advice and support or8anisations e.8. CALS, Foodbank Plu5 scheme, GHIN Mental Heakh project. VAL Creative Futures and Volunteer irainin8. Further information on the services provided during 2024125 appear later in this ￿pOrt. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT ICONTINUED)(INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 45 Wellinger Way- PrelDved@45 Communlty Shop CIC The former Nei8hbourhood Support Base at 4S Wellinger Way wa5 refurbished in spring 2021 and leased to the newly formèd Preloved@45 Cornmunity ShopCIC, which opened its doorsto rhe public in August 2021. The shop exists to provide Braunstone with affordable recycledldonated clothes. xcessories, household iiems. furniture and kitchen appliances. The Dirertors of the Community INerest Company ICICI are local people. as are all the volunteers. They 8lve back to the community by helping individuals in crisis on referral. by Providing e￿entIal clothin8 and other irems- USLJally helping as part of a packa8e of support with other services when loca1 people are facin8 di￿lcUlt circumstances. The shop provides the opportunity for volunteering with trainin8 and work experience and employs a small number ol part-time staff. The Grove Cornmunlty Hub Icort Crescent, Brnunstonel The Braunstone Foundation acouired the Grove building and a53ociated outd¢y)r facilities. in June 2019. Followin8 successful 8rant awards by the Garfielij Weston Foundation and Power to Change Trust. the building underwent major refurbishment and re-launched early in 2020. During 2024 ltslltswing a successful application to the Yotrth Investment Fund 2 IDCMS funded), a further major refurbishment W35 undertaken to increase facilities for Youn8 Peoples activities in Braunstone and improve the energy efficiency and sustainability of the buildin8. A review of the Grove's furthèr development over the p45t year appears later in this report. 14.20 Wonfordt Crescent These proPèrtle3 are rented out as social housin8 throu8h an a8reement with PA Housin8 Group. 8raunstone Park Lody The LodBe was acquired in May 2009 ihfou8h a 125-ytar lease agreement with Leicester City Council. Following major refurblshmeni, rhe Lotl8e was occupieil by Foundation staff until April 2017, at which point it was brou8hi into the investment property portfolio and 15 now let as part ol the Busines5 8ox + offer. The property was ler on leasehold throu8hout rn05t of the 202412S period. Property valuatlon A full -Fair Market. Valuation of all the property portfolio of the Braunstone Foundation was undertaken in july, 2024 by our Valuers, Innes England. This valuation forms the basi5 of information regarding assets later in the Fsnancial Statements of this report. The nexr lull valuation will be carried out in 2026. Ser4Tlces and Pro'ects durl 2024 25 The Grove Communlty Hub The Grove Community Hub ha5 now been fullyoperational for 4 yeafs. following Its initial relurbishment in 2019. launch in 2020 and subsequent major re-furbishment throu8h the Youth Investment f und in 2023124. We were extremely pleased to be able to re-launch the Gfove Community Hub at a community event on 13th Ortober 2024, attended by dignitaries, namely the Deputy Lord lieutenant of Leics. (Mr Graham Smith). the High Sheriff of Leicestershife and the Lord Mayor and Lady MayoTess. The Grove is now a vibrant community hub open 13 hours per day. offering a varied range of activities delivered by our team and other 8roupslpartners. The facility now boasts a performing art5/dance space with retractable tiered seating and adjaient courtyard garden èt the rear. along with a very popular Gaming Room. artNiiy room. 4 x changing rooms and office5 on the first floor fully occupied during the last year. The 0￿Side f￿llItIeS offer a 4G Football pitch, a 3 x 3 Basketball Court and 4 x gra55 Football pitches. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT {coMfiNUEDI(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Regular weekly groups have formed at the Grove includinR the tive Well Walking Group, Knit and Natter, Move Together (Keep Moving with Core-dance and health sessions delivered as partof theGHiN Projecil, GKR Karate. Bounce Beyond Ire-boundingl, Leicester MammaslBreostfeedin8Jnew Mum support). Leicester mLt$￿al Memory Box, VAL VALUES Group (adults with Learnin8 Disabilities who maintain the Grove garden), plus regular hire from Leicestershire Guide Dogs (Pvppy Training), Leics. Violence Reduction Network, DWP Jobs Fairs. NHS Stafl Trainin& Children's Centre and many more. Also, diJrin8 thar past year our team at the Grove have worked exrTemety hard to create and launch a range of Party Packages for people to buy to celebrate their child's birthday. These have been e￿remelY popular, anil the number of bookings has far exceed￿ our expectations. The packa8es include football, classic (Bouncy Castle, Face painring etc.), Gamin8 ènd Nerfparties. They offer an affordable and lun alternative to families. as opwjsed to commercial providers and the surpluses made through sales are re-invested into the running of the Grove. We were pleased to welcome Leicestershire Mind charity as a tenant at the Grove and the launch late in 2024. of their twice weekly Braunstone Nei8hbourhooiJ Menial Health Café Ifvnded by LPT- NHSI. Our tenants Heods Up charity. who offer a wide fange of support for children, Youn8 People and families for their emotlonal well-being, havè developed and grown ihrou8hout the last year and now rent mole space in the building and run more groups. The Grove continues to be the venue ol choice for manydance/performin8 art5 group- ER Dance ènd Fitne55. Pu15e Dance and Fitness. LVT Performing Art5, leicester Dance Academy and Fernina Family Dance Group. In addition, through a su¢cesslul partnership with Curve, we hosted a course ol 10 sessions in Musical Theatfe lor 10-14 year olds endin8 in a performance in July 2024. Our Holiday Activities Fund IHAFI schemes wert extremely popular dvring 2024125, and we have offered school holSdav schernes lor 5- to I5-Year￿ld$ at Easter, Summer, Winterlchristmas and all Half Terms. Throu8h a new partnership with Braun5tone Comrnunity Primary School18CPSI. wè have been able to increase the scale of the scheme in thè Summer to up to 130 children per day- as we can use many facilities and space at ihe xhool (which is directly opposite the Grove) and increase our staff capacity through joint workin8 with BCP& The children and youn8 people were very en8a8ed in lotsof fun activi11￿ includin& looiball. dance. multl Sports, arts and crafts, florisrry workshops. drummin8, cyclin8, cookin8 and healthy eaiin8, tflps, First Aid training and animal encounters io name but a few. The children receive a nutrr(ious lunch & breakfast and healthy snacks throu8hout the dèy. We operate these schemes as a hybrid, with th95È èligible lor mtans-tested Fret Sch¢)ol Mea15 receiving free places and very Iow-COSt places lor other fee. paying children. During 2024125 due toour enhanced lacilitie5 and a range of exrernal lundiTh8, we have been able to launch a whole raft ol new weekly sessions for Young People delivered by ourselve5 and in partnership with lannis FQ Streetvibe Young Peoples Services, DMU and ER Dance and Fitness.. Free Football se5sion5 from a8e5 3 to 19 years and Walkin8 Fooiball for adutts. over 6 days per week Gamin8 Club Youth Club Glrls Only Youth Club Saturday Arts Club Basketball sessions In February 2025 thanks to lickers via Street Games. our Girls Football Group were able to goto Wembley to watch the England Women's game a8ainsi Spain, which was a 8reat experience lor ihem. This was followed by our second event to celebrate Internationèl Women's Day in March 2025, whereby we welcomed over l(N) girls from local schools to come for the day and take part in a Football Tournament and rry out arts, crafts and wellbein8 workshop artivitie5. We also hosted a Boys Day for the first time at the Grove at the end of March. which was well attended and offered similar THE BRAUNSTONE FOUNDATION TRUSTEES REPORT (CONTINUED}(INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 During December rhe Grove hosted a very successful Christmas Fair. with lots of local groups having stslls for fund-raising and lots ol free or low-cosi activities lor families. This was followed later in the month by a Christmas Social that hosted 40 local people for a free 3 Course Christmas Lunch. The Board of Trustees wishes to thank the team ai the Grove for all they have achieved this last year. It has been an extremely busy and successful year with lots of development. to offer more and more to the local community and build up the sustainabiliiy of ihe service. Muih has been achieved, and the team continue to plan and grow. The eoard ol Trusteès would a150 like to express sincere thanks to our funders, donors antl svpporters that have invested in the Grove over the past year.. DCMS IYIFI, NLCF Million Hours Fund, Leic5. Police and Crime Commissioner, Street Games, Leicester City in the Community, Leiiestershire Scouts. DfE fvloliday A(tivities Fund, UK Government UKSPF via Leicester Citv Cguncil, Danaher & Walsh for providin8 the matefials and labour to transform ihe rear 8arden into a usable and attractive courtyard 8arden Iof the centre. The above services relate to thè Foundation's charitable objects al, bl, cl. dl, el, fj gl, hl,11,11 and kl. Nèl8hbourhood Support SeNlce This seNice w?5 based at the Nei8hbourhood Supw)rt OffKe at our Gallards Hill site during 2024125. Ir takes the lead in community engagement and providin8 a food pro8ramme, access to welfèreldebt advice and rnany other support services and a wellbeing programme. It also connects with the community ihrou8h a range of media Intstably the Braunstone Alert community ma8azinel. social media and the ijelivery of hi8h-ouality community activities and events. The service supports a wide range of volunteers who undertake a variety ol roles across all services. This last yèar saw the transition to a new Service Manager after the rrtiremtnt ol thè long-standing post holder and subsequènt change in Co-ordinaior lor both ihe Foodshare pro8ramme and Wellbein8 programme. The new mana8er has carried out a thoroiJ8h review of serviies and has bten workin8 with the tearn io make chan8es to our provision and develgp new projects. A brlel summary of service activity is hithlighted below.. Belriendin Servi During 2024125 our lon8-Standin8 8e-friendin8 Scheme continued to operate loi local people over 55 years. 3 elernents remained dufin8 the past year intludin& 11 Telephone Be-frlen¢Jin8- a re8ulaf lofttn weekfyl call to have a check-in on the person's 8eneral wellbein8 and a catch-up. The arrangements are not time limited btrt x)mettmes people's lives improve to svch an extent, that they no longer need the service and have a greater ability to 50cialise and are experiencing better health and well-bein8. Element 21 Tolk Time Social Groups- an Qpwrrun￿1Y for residents to meet up and talk to residènti in the area. Two weeklv sessions at 2 different venues wirh resources which make the sessions varieij and interestin8. Identification and referral can come through many sources e.g. neighbours. family, Social Care. GP'S and O£cupational TherapisES. Across the Sandyhurst Supported Living and St Peters Church Hall venues combined. we have 26 attendee5 a week on average. Providin8 sessions for 51 weeks of the year. We have taken both 8roups out on a nvmber of trip5 this p35t year. including to a l¢Kal luThch club at Trinity Methodist Church.. Garden Centres and Curve Theatre. During December all the scheme members received high quality hampers and pamper packs donated by a range of local businesses, community group5, schools. churches and commun¢ty members. Many Tolk Time mefflbers also attended a special Christmas Social at the Grove with a free three course lunch. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT (CONTINUEDI(INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 MARCH 2025 Element 31 A Men's Group for men over 40 years facin8 social isolation and loneline5S Our Men's Group launched in 2021 and a￿hoUgh it has maintained low numbers. the impatt is high on the individuals who are involved. Durin8 2024125 the group has been supported by our Training Support Worker and continued io support the Preloved@45 Community Shop on Wellin8er Wayi by doinggardening and other DIY tasks. The group has also 5UPPOrted Some individual elderlylvulnerable residents who needed some prKtical or gardening SUPPOrt due to difficult circum5tance5. The 8roup havè also regularly helped to deliver our the bi4nonihly Alert magazine. Gettln HÈI urhoods GHIN Men l Healih Pro. SintÈ April 2022 we have been very pleased to be awarded annual grants from LLR LPT INHSI. a5 part of their GHIN programme. This aimsto provide community-based support via a rangeof Pfovidersthat contribute towardstackllng low level mental health issues. Our project. Get Connerted-sroy Wellèims to provide opportunities for local people to en8a8e in wellne5s-based activities, with time ltsr establishin8 friendships and maintainine social attivity outside ol the home. GHIN results lor 2024-25 rwea15 that ￿er the year.. We directly supported 571 individuals 1.455 instances of direct i-l support 1,023 project activities (Jelivered with 6.307 attendances Of the 571 individuals supported, GHIN outcomes reported.. 112 increased aspirations and goals 469 increased in access to service and support 106 improveil Menial Hèalth and Wellbeing 70 improved social network5 131 ¢ncreased resilience and 5elf-care In March 2025 we welcomed a new Wellbein8 co￿rdInatOr who ha5 worked to develop systems for the GHIN Project and our wellbeing SUPPOrt more generally. As pan of these developments, we have since April 2025 implemented the Warwick- Edinburgh Menial Wellbein8 Scale IWEMWBSI scorJn8 System across the service. This enables staff to track Intervention impact upon individual wellbeing. Each person is supported to complere this and results are shared immediately. Result5 ascertain which areas of wellbeing individuals need support in and we guide to access relevant services. Results are linked to the Mental Health Continuum,. il an individual's siore is lowlbelow average. we encovra8ethem to 5eekclinical assistance. Mid-level results are 8uided towards activities and l-l wellbeing SUPPQrt desi8ned to target thelr lowest scorin8 wellbeing area. The team have worked ro8etheT and undertaken the necessary training to earn ihe Neighbovrhood Support Base the accieditation of bein8 a Mental Health Friendly Place. Mental H Ith Co-ordination- Pil t Pr Following an approach by the Leicestei. Leics. and Rutland LPT Partnership Trust INHSI - lead for community-based mental health serviies. We were asked to deliver a pilot project for 6 months Icxtober 2023 until April. 20241, wr(h a view to testin8 the èpproach ol focu5sed local co-orijinatron of 5e¥vices. to supporr local people with mental health needs at a neighbourhood size level (Braunstonel. Following ihe success of that pilot we were further commissioned to extend ihe project throughout 2024125. We seconded one of our experienced Neighbourhood Support Workers to the project 2 days per week during the pilor phase where she made great strides and met with a vast array of providers ol rnental healih support and went on to set-up the Braunstone Mental Health Network18MHNI. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT {CONTINUED)IINCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The BMHN was formed of over 25 service5 acr05S the NHS, VCSE and public sector offering a range of support for advocacv, addictions, community support, dementia, homelessne55. domestic abuse. Children and Youn8 People's mental health. The network met bi-monthly during 2024125 and provided the opportunity for membeis to network informally and share case studies ol their work to discuss and get better insi8ht across services. We believe thar the pilot and e￿ensiOn to the projèct demonstrated that, by focu5sinK righi down to nel8hbourhood level to better un(Jerstand the issues around rnental health in a ioined-up way. Providers can make better contècts. understand pathways for individuals and be better ¢t)￿rdinated to improve outiome5. Although LPT did not have the funds io commission further with us in 2025126. theii Neighbourhood Mental Health Lead lor the West of the City has taken over the co-ordlnation of ihe network and it tontinuès to meet and develop relationships. Braunstone Foodshare. During 2024125 the Braun5tone Fooijshare pro8ramme continued io support Braunstone residents in tackling food poverty and providing much needed crisi5 and ongoin8 support for locol households. Membership fluctuated throv8hoLrt the year but was within ihe fan8e of SO-65 people. which translates to over 100 pegple in the households supported. Members are still reviewed regularly and the 'wraparound' service includin8 welfare. ener8y and debt advice by LCALS, has been Improved further with more support being made available for members of the comrnunitv. Along Wlth support for èmployment through the VAL Creative Futur￿ project. For much of the yèar Ftsodshare had the hybrid offec of a Foodbank and Food Pantry for those better able to pay a little. which a150 acts as a bridge between the emer8ency lood service and iheir eventual independence from the scheme eniirelv, Subsequently. by the end 012024125 the transition of the Foodsharè to a full ￿ntry model ha5 taken place, with each mernber assessed lor affordability and plèced on a slidin8 scale pantry offer1£3 to £12 per vi51tl. Thi5 transition has been very sutcesslul, and members appreciate the more independent opportunity they8et to ch005e food items and spend their bud8et on essential items needed to supplement their weekly Shop. They als9 have the benefit of rhe wraparound servi£e to help them to continue to Improve their financial ¢ircurnstances. We are Still offering crisis food parcels by referral (self or by an a8encyl of any LE3 1 resident. whereby after the first visit we will carry gut an a55e5sment to undersraThd their circumstances and place them at the right point in the pantry service. Foodshare continues to be a huge undertakin8 requirin8 lots of volunteer and staff time. However. we are committed to continuing this essential work and happy to report that the service has aBain received a food hy8iene rating ol S from environmental health lor every inspection. which shows the professionalism and determination of all those involved in its dellvery. We welcomed a new Foodshare Co-ordinator in December 2024. who has worked very hard to develop the scheme through belter stock mana8tmÈnt and fairer diStrib￿l￿n proce$5es vi? the full pantry model. The scheme Is 5UPPOrted by kind (lonarions from local xhools Ilmperial Infant School, Fullhurst, Stafford Leys PFA, Christ the King, Kirby Muxloe Primary), churches1S1 Annes. St Andrews IFE. Blessed Sacfament, St Petersl. Community Groups, The Hygiene Bank, many Supermarkets (via ihe Nei8hbourly Appl and special arrangernent5 Wlth ASDA IFosse Parkl, 8ookers Wholesalers and Morrisons (Leicester, Aylestone Roadl. Also. through busine55 donors such as: First Bus, Premier Driving Academy, Eviosys, Welcome 8reak Services LFE. EMR. The Braunstone Police Beat Tearn and a special meniion of Good Gym who regularly volunteer to help with stock Control and deliver Braunstone Alerts. We also have regular individual donors and maintain an annual affiliation to Fareshare (Leicestershirel. The service is supported by a range of partner5 including LCALS. providin8 Welfare Advisors. We remain very grateful to LCALS, as they are able to offer a quick response and expertise to support our FoodShare members who may be experiencin8 a range of issues e.8. benefit claim querie5, debt, fuel poverty and other hardships. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 They help us to offer a more holistic service to our Foodshare members. which allows us to respond not jtjst by providin8 food but by trying to tackle and reS0￿e the root causes ol their diffi£ultie5 leading to food povertv. We would also like to acknowledge and ihank Reachin8 People Consortivm for their mana8ement and co-ordination of the Emer8ency Food Grant5 (via Government Fundin81, which have helped massively toward5 the c05t of replenishin8 stocks of essential items and fresh fruit. vegetables and dairy products throu8hout the year. We wish to thank Tim Adkin (Emergencv Food Co-ordinator). for his ongoiA8 SilPPOrt for oui Food5hare s(heme. Oth r Nei ort attivities throu hout 2024 The Nei8hbourhood Support 8a5e continues to be a busy hub for all iypes of support St￿1te5 lor 8raurtrstone residents. Throughout thè last year we are pleased to have worked in partnership wlth a wide rangè of providér5 and supported them to deliver.. PA Housing Monthly Orop-in for tenants Stop Smokin8 Service Regular Police Beat Sur8eries VAL Creative Futures pro8ramme- employability support Local Councillor Sur8eries Turning Point- Substance Misuse support services Ifortnightly drop-in51 Ernpowerment Group explorin8 Domesiii Abuse 6weeks courst run byWomen'sAid-better understandin8dynamics of relationships ènd healthy boundaries (launched January 20251 The team have also ielebrated National Volunteer Week (Volunteers lunchl. and Loneliness awareness Week Ispotli8ht on benefits ol volunteering and joining in our l¢xal groups or be-Iriendin81. They organised the 8ig 8raunstone Clean-up sessions Sn May around the estate, a Family Cookin8 Fun se55ion In Jvly and a Community Picfti¢ at the Grove in Av8USt 2024. Followin8 Selection in January 2025, b inspired isone of 5 charities in Leicester Iplus another S in Lutonl io be funded for 2 years by Utilita Giving to be part of ihe'one Coll Thot's All" projèct. From March 2025 our part-time Support Worker is seconded to the project 2 days per week, alon8 wilh our Trainee Support Worker 3 days per week. The team have a target to support 200 beneficiaries per year in accessin8 SUPPOrt for hèlp with ltsod andlor fvel poverty, wr(h the ocfA funded staff bein8 their main contact and support throughout their journey. The Board of Trustees would also like to sinceiely thank ihe Bfaunsrone Resident5 Network for their kind and si8nificant donation of over £8000 to our charity to buy a company van. A oualily used all electric van was purchased in June 2024 and is used regularly by our Neighbourhood Svpport and Grove Teams. This has been a great boon in bein8 able to respond ai short notice to offers of donations and for the collea1n￿de11Ver1n¥ ol food and items. The Board of Trusrees would also like to thank the B&Q Foundation lor their generous grant of £IOk for capital works at the Gallards Hil site, which paid for an upyade to the Boiler and heating 5YStem. The Board ol Trusiees wishes to thank all the Neighbourhood Svpport Service Team lor all their endeavour5 thi5 last year. It has been a yearof significant change for them in termsof key staff andchanges toservi£e delivery. all with the aim ol maximisin8 the support we can provitle to local people and ensuring sustainability of the service. Much has bten achieved alreadv. The above services relate to the Foundations charitable objects al, bl, cl, dl, el. fl 81. h). il. Il and kl. Finantial Revbew Ovtrview The trustees have noted the financial position of the charity at the 31 March 2025 year*nd. The Statement of Financial Attivities shows a combined group annual turrtrover for the financial year 202412S of £1.925.041. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT (CONTINUED)IINCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 During the year there was an actLtarial gain on the valuarion ol the Mutti-Employer Pension Scheme. This year we report an actuarial gain of £152,0(K). This actuarial 8ain is again reported in the statement of Financial Activities. After we rake into consideration these 8ains we are èble to report net reduction in fund5 of £153.201 compared to last yearfs reduction of £568.070. The impact of the revaluations ha5 had a Significant impact on our position. There are ng funds held as custodian trustee on behalf of others. Penslon Scheme Pro¥lslon The 8faunstone Foundation rnakes paymtnts into a MLtlti-Employef Pension Scheme ISHPSI on behalf of its employees ènij rètirees in order to meet certa*n short falls within that Defined Benefit Scheme. Under the past prevailin8 legislation. it Wa5 not necessary to account for the Shortfall that the company had to make good because ol the nature ol the scheme. However, because Mulii-Employer Pension S(heme deficits have to be accounted for under FRS102- Ihere is an Impact on the accounts. This rneans that the accounts have been adjusted to account for any artuarial adjustments a5 articulated above and there is a £152,000 detrea5e in the deficit. Thts means the provision IOT this deficit now stands at £391.(m as at the 31 March 2025. The pension xheme deliiit appear5 to fluctuate substantially year on year. Reseryes Str•te¢v The Board has a strètegy towards the holding ol re5Èrves. Wè endèavour to hold in free unrestricted reserves up t0 Six months operating costs to cover payments to staff li.e. notite pèriods 013 months and redundancy c05t51, premises costs. contract/ lease liability costs and legal cost5. This approach is based on an understanding of the irKome streams and their risk profile and exclude5 expenditure related to operations wholly funded by resiricted funds. The trustees esrimare normal on8olng annval costs to be around £I.sC￿.0￿) per year. The trustees estirnate that reserves at a level ol approximately £750,CW would ensure that, in the event of a significant drop in funding, they would be ableto continue thecharit¢s current a(tiv*tieswhileconsideration isgiven to ways in which addiiional fund5 may be raised. The charity had c195inK unrestricted re5erve5 of £3.267.092 as at the 31 March 2025. So without funher review this looks very healthv. However, we need to consider this in relation to the type of asseis held which rnakes up the vnfestritted funds. Of the assets held in VnrestrKted Funds £1,345.017 in Property, Plant and Equipment. A further £2,222,OCKI is held in Investment Propenies which provide the income the charity needs to undertake its attivities. In Free unrestritted funds we have net current assets of £91.075 whilst the pension liability of £391.CQO 15 directly Matched against these funds. The charity has a strategy to see u5 build up cash reserves. to enable us to build up 35sets within unrestricted funds that are more liquid. A key element of this is surplus funds betnggeneraied in our trading subsidiary and betng donated into the charity. These cash svms have been paid over and it is liftin8 our unrestrirted liquid assets to cover uftexpected contlngencies which helps us to achieve our stated aims. 10 THE BRAUNSTONE FOUNDATION TRUSTEES REpoKr {copiriNUED)IINCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Con¢luslon After takin8 inio consideration all these items ihe charity cafries forward reserves as follows: Unrestricted Funds of £3.267.092 aftef pension adjustfflents revalltsations Designated Funds of £335.290 after transfers from unrellricte(I funds. Restricted Funds of £138,877 Perrnanent Endtswment of £5,1￿.C¥xl This means the Charitable Cornpany has £8,741.259 of total fund5 carried forward. These funds are split between the unrestricted funds, desi8nated funds, the resrricied funds and the permanent endowment fund - see statement of financial activltSes on page 20 & 21. Rlsk A￿tW The Board conduits Its own review of ihe major risks each year through it$ 8usine5s Planning procèss. A 3-year 8usine55 Plan Wa5 produced in early 2023. to cover the period 2023 to 2026 and risks reviewed at this time. As with most Charities, this exposes risks and systems have been established to mitl8ate those risks. External risks have been mana8ed throu8h a robust business plan thai is flexible and adaptable, yet still ambStlous. Internal risks are minimi5ed by adherence to its Financial Rt8ulations. Policies and Pro¢￿￿Te$, alon8 Wlth updates to its HR Policies. The main risk5 are deemed to be.. Should the Braun5tone Foundation exhaust r(s operatin8 reserves. Ihen it might be unable to meet i¢5 commitment5. The Board Directors/Trustees or staff in key operaiional and strate8ic roles could leave and poientialty have an adverse impact on the organisaiion. Should additional income not be securtd then inSuff￿lent resourtes would be available to mainiain the current level of staff and resources. Competition for grant funding will become fiercer a5 levels of public spending decline. Failure to deliver on coniracis would result in both a financial loss and dama8e to ihe repuration ol the company. Major disruption to normal operations due to disaster or othei si8nificant scenario le.8. iotal power failure, flood, internevother vIr￿S attack, server/ne￿ork failure, comms systems failuie. security attack). Senior managernent report performance against the Business Plan lor all services at every Board meeiin& along with a quarterly review ol financial performance and progress against tar8ets. THE BRAUNSTONE FOUNDATION TRUSTEES REPORT {CONTINUEDI(INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Plans for Future Perlods The 2025126 yèar h35 already been very busy. We are right in the middle of our 3-year Busfrness Plan12023-20261 and a lot of activity is happening on many fronts. Notably, celebratin8 our 25" Anniversary has been a real hi8hli8ht of the year so far, for staff Icurfent and past) and Trustees. A great dèal of thought. ideas and energy has been put in to marking this significant milestone including a roamin8 photo board exhibitlon, gathering ol rnemorie5 and feedback through s(Kial media and video-makin& a Celebration E¥enin8 for current and former staff and Trustees, a bi8 Community Fun Day and Tree-plantin8 ceremony. Feedback has been extrernelv positive. creatin8 a real sense of achievemeni. We are pleased to announce and acknowledgt funding sÈcured in June 2025 for al long hopÈd for project to create a Trainin8 Kitchen at our Gallards Hill site, from the Wolfson Foundation. They have kindly lully 5UPPOrted us io install a kitchen suitable for 6 learners, along with a comfy area, in orijer that we can offer food cooking demonstrations and courses to raise awarene55 01 utilising food we have donated and Iresh pcoduce- reducin8 further 8ood food goin8 to waste. We Intend to extend further our Youth oller at the Grove by blddin8 for luntls from the Belter Youth Spaces programme IDCMS lundedl, to Ireate a further mult&-acti¥ily room and enhance our gamin8 room and performin8 arts space. With fundin8 fol more sessions through0￿ the week from phase 3 01 the NLCF Million Houis Fund- we await the outcome on both application lor funds. In addition, wè are a¢tively working Wlth art5 Of8anisation5 to Secure their use of the Grove as a venue for performancès and comedy shows. Durin8 the summer of 2025 we have had oui Girls Football Group approved for affiliation io the Leicestershire Football Association as a team to play in the lea8ues. This is a real boost foi the 8irls and shows tremendous progress in a relativelv short time. Durin8 the Summer HAF scheme we partnered with Heads-up at the Grove to deliver a pilot xheme lor children with Special Need5 and neurodiver8tnce5. This may lead to a longer-term PrO￿tt and partnefship. Following all rhe capital investmenr at the Grove and the resdution of a lon8-Standin8 issue with the floorin8 in the space Ilunded by UKSPFI. the Grove Calé space is now able io be re-opened. With ionsultan(y sups)ort funded by YIF and provided by Eosrside People, to look at the Options for future delivery of the colé and its feasibility. The Board of Trustees ha5 agreed to the re-openin8 01 the Grove Café as an in-house run provision. Plan5 are in place to retruit the nece55ary staff and 8ather the ri8ht resources and equipment to re-launch the café laier in the year. Structure. Governance and Management The charity is a company limited by guarantee. The ChaTtty Comrnission awarded the Braunstone Foundatson with charitable Status on 29 December 2010. As a condition. *r was a8reed to develop a"8roup struuure" W￿[h the establishment ol a lOO% owned trading Subsidiary of the Foundation, io undertake ihe non-(haritable attivities. This was undertaken and put in place. $0 thar from l April 2011. the Foundation can concentrate solely on its chafltable attivities and the trading company B- Inspired ITradingl Lid, can mana8e the commercial attivities and undertakines. 12 THE BRAUNSTONE FOUNDATION TRUSTEES REPORT (CONTINUEDIIINCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Trustees The tfUStee5, who are also the directors for the purpose of company law, and who served during the year are shown below. Henry Thompson Elaine Halford Iresigned 08109n0251 Edward Rogers Tim Morton Bethan Lloyd Iresi8neiJ 24109120241 Geoffrey Sta88 Michael Moreton Emrna Southern The charity is organised so that the trustees ItO8ether lormin8 a board ol iru5tee51 meet regularly16 times during 20241251. The Board ol Trustees also retain the power to form lurther Committees and subnal jud8ment and maintain profèssional sceptlC15m throughout the audit. We also: Identify aThd assess the risks of material missratement of the financial statements. whether due to fraud or error. design and perform audit procedures ￿SponS1¥e to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of noi detectin8 a matefial mi5Statement resuliin8 from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery. intentioTral omissions, rnisrepresentations. or the override of internal control. Obtain an understanding of internal coTrirol relevant to the audit in orderto design audit procedures that are appropriate in the circumstances, bui not for the purpose of expressing an opinion on the effectiveness ol the 18 THE BRAUNSTONE FOUNDATION INDEPENDEMf AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BRAUNSTONE FOUNDATION Conclude on the appropriateness of the tfvstees. use of the goin8 concern basis of accountin8 and, based on the audit eviijence obtained, whether a mèterial uncertainty exists related to events or conditions that may cast significant doubt on the charitable company'5 ability to continue 35 a going concern. If we conclude that a material uncertainty exists, we re reguireij to draw attention in ou¥ auditorfs ieport to the related disc105ures in the financial statements or, if such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date ol our auditor's report. However. future eventsor condli￿n$ may cause the charitable company to cease to continue as a goin8 concern. Evaluate the overall presentation. structure and content of the linancial statement5, includin8 the disclosures. and whether the linantial staternent5 represent the underlying transactions and events in a manner that achieves fair presentation lie. Bives a true and lair view). Plan and perform the group audit to obtain sufficient appropriate audit evidence re8ardin8 the financial information of the èntities or business units within the group as a basis for an opinion on the 8roup financial statements. We are responsible for the direction. supervision and review of the audil work performed for the purposes of thè group audit. We remaSn solely responsible for our audii opinion. We communicate with those char8ed wirh 8o¥ernance re8ardin& amon8 oiher matters. the planned scope and timing ol the audit and 5ignilicanr audit findin8s, includin8 any si8nificant tleficiencies in internal contfol that we identify during our audit. Use of our report This report is made solely to the charitable tompany's mèmber5. as a body. in accordance with Part 4 01 the Charities IAccounts and Reporisl Re8ulations 2C#)8. Our ak•dit work has btefi undertakèn x* that we Might state to the charitable company'5 members those matters we are required to state to them in an auditor's report and lor no other purpose. To the fullest extent permitted by law. we do not accept or assume respgn5ibil*ty ro anyone other than the charirable company and the charltable company's mernbers a5 a body, lo¥ our audit work, lor ihis report, or lor ihe opinions we have formed. Thom•s Maylleld FCA (Senlor Statutory Audltorl for and on bèhalf of Mayflèld & Co. Mayfield & Co. is eligible for appointrnent as auditor ol the charity by virtue ol its eligibility for appointment as audr¢or ol a company under settion 1212 of the Companies Act 2C(fi. 2 Merus Court Meridian Business Park Leicester LE19 IRJ Dated.. 6th December 2025 19 0% l!* THE BRAUNSTONE FOUNDATION CONSOLIDATED BALANCE SHEET AS A T31 MARCH 2025 2025 2024 Notes Flxed asseis Tangible assets Invesiment properties 13 14 1.345,017 7,222.000 1,346,432 7,222.000 8.567,017 8.568,432 Current assets Debtors 16 207,522 637.413 64.367 1.101.276 Cash at bank and in hand 844.935 1,165,643 Credltors: amounts f•lllnt due wlthln one year 17 1279.6931 1296.6151 Net currenl assets S65.242 869,028 Totsl •55ets less curreni Ilabllli 9,132.259 9,437,460 Provlslons f¢)f Ilabllltles I391,(K￿l 1543.Cl)01 Net assets 8,741,259 8,894,460 Capltal funds Endowment funds Income funds Restricted funds Unre lun Desi8nated funds General unrestricted funds Revaluation reserve Pension reserve 20 S,IXIJ,OC s.000.0￿) 21 138,877 223,695 23 22 335,29C 3.191,104 466,988 1391,(KKII 425.230 3.321.54? 466,988 1543,(￿) 3,602.382 3.670,765 8.741.259 8,894,460 22 THE BRAUNSTONE FOUNDATION CONSOLIDATED BALANCE SHEEr AS A T31 MARCH 2025 rhe company is entitled to the exemption from rhe audit requirement contained in section 477 of the Companies Act 2006, lor the year ended 31 March 2025. although an audit has been carried out under section 144 of the Charities Act 2011. No member ol the company ha5 deposited a notice. pursuant to section 476. requiring an audit of these accounts under the requirements ol the Companies kt 2(Kl6. The trustees responsibilities for ensurin8 that the charrty keeps accounting records which comply with section 386 of the Act and for preparing a£counts which 8ive a true and lair view ol the state of affairs of the company as at the end of the financial year and of its incoming resource5 and application of resources. including Its income and expendiiure, lor the financlal year in accord3nce with the requirements ol se(tions 394 and 395 and which otherwlse comply wirh the requirements ol the Companies Act 2006 relating to accounts, so far as applicable to the companv. These accounts have been prepared in accordance with the provlslons applicable to companies subject to thè sm¥ll companies, rè8ime. The financial staternents were approved byiheTrusiees on 6" December 2025. Geoff v Sta8 stee Company Reilstr•tlon 140. 04029394 23 THE BRAUNSTONE FOUNDATION CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notès Fl¥ed assets Tan8ible assets nve5tment properties Investments 13 1,345,017 7.222.￿0 1,346,432 7.222,OLK) Is .567.018 8,568,433 Current a55ets Debtors Cash at bank and in hand 16 199,628 501,440 80,449 953,418 701.068 1.033,867 Credltors: amounts falllni due whhln one year 17 1135,8271 1165.3331 Net current assets 565,241 B68.534 Total •ss*ts less current Ihbllltbes 9.132,259 9.436.967 Provlslons for Ilabllllle5 1391,(K(Il 1543,LlXJI Net assets 8.741.259 8,893,967 Capltsl funds Endowment funds Incorne funds Restricted funds nresiricted fun Designated funds General unrèstricted funds Revaluation reserve Pen510n reserve 5,LYXI,iXX) 5,Cth.000 21 138.877 223,695 23 22 335.29J 3.191,104 466,988 1391,(KX)I 425,230 3.321,054 466.988 1543.0(Kil 3.602.382 3,670,272 8,741.259 8,893.967 24 THE BRAUNSTONE FOUNDATION CHARITY BAiANCE SHE FOR THE YEAR ENDED 31 MARCH 2025 As perrnitted by s408 Companies Act 2006. the charity has not presented its own income and expenditure account and related otes. The charity's Thet expenditure before all transfer5 was £304.70812024- £679,563 expenditure). The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. althou8h èn audit has been carried under section 144 of the Charities Act 2011. No rnember 91 the company has deposiied a notiie, pursuant to section 476. requiring an audit ol these atcount5 under the requirement5 ol the Compan¢es Att 2C#J6. The trustees responsibilities for eThsurin8 that the charity &eep5 accoynting records which comply with sectton 386 of the Act and for preparing accounts which give a true and fair view of thè state of affairs of the company as at the end of the financial year and ol irs incomin8 rewurces and application of rewurces, including Its incorne an(J expen¢Yiture, for the financial year in a£cordance with the reouirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2(X)6 relatin8 to accounts, so far as applicable to the company. These èccounts have been prepared in accordance wlih the provisions appllcable to companie5 5ybject to the srnall cornpanies, regime. The finan tement5 were approved by the Trustees on 6, DKernber 2025. Geoff ey Sta Company Re usiee tratlon No. 04029394 25 THE BRAUNSTONE FOUNDATION CONSOLIDATEO STATEMENT OF CASH FLOWS FOR THE YEAR EAIDED 31 MARCH 2025 Notes 2025 2024 C05h flows from operatln8 acttvbtie5 Cash labsorbed byllgeneraied from operations Intomè taxes paid 1482.4561 15,819 Net cash Infiow frorn operatlng artIvi￿e5 1482.4561 15.636 Invesil￿ artfvltles Investment income received 18.593 19.795 Net cash gènèrated fromllused Inl In¥estln8 act￿￿1•$ 18.593 19,795 Net cash used In 15nanclng acllvltlès Net Ide¢re•5elllncreI5e In Cash and cash equlvalents 1463,8631 35,431 Cash and cash equivalents ai be8lnnin8 of year 1.101,276 1.065.845 Cash •nd cash eqylvalents •t end of year 637.413 1,101.276 26 THE BRAUNSTONE FOUNDATION NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Char5ty informatlon The Braunstone Founijation is a privatecompany limtted byguarantee incorpof*ed in En8land and Wales. The re8lStered office is Business Box, 3 05win Road. Braunstone. Leicester. LE3 IHR 1.1 Accountlni ¢on¥entlon The financial statements have been prepared in accordance with Accouniin8 and Reporring by Chariiies". Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financièl Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 - (Charities SORP IFRS 10211, the Financial Reportin8 Standard applicable In the UK and Republic ol Ireland IFRS 1021 and the Companies Act 2¢)J6. The statement of financial activilies ISOFAI and balance sheet consolidate the financial Statemènts of the charity and its wholly owned subsidiary B-lnspired ITradin81 tsmited. The results of the subsidiary are ¢onsolidated on a line by line basis. The ac£ountsare prepared in sterlin& which isthefunctionalcurrency olthecharity. Monetary amounts in these finan¢ial staternents are roundèd to the nearest £. The accounts have been prepared under the historical cos1 convention. The principal ac(ountin8 policies adopted are set out below. The charity is a Public Benefit Eniity as defined by FRS 102. 1.2 Golni concèrn At the lime of approvin8 the financial statements, the tr115tee5 havé a reasonable expectation that the charity has adequaté rèsources to £oniinue in operational existence lor ihe lore5eeable future. Thusthe trustees continue to adopt the going concern basis ol accountirng in preparin8 ihe financial statements. 1.3 Charltable funds Unrestricted lund5 arè available lor use at the discretion ol theirustees in furtherance ol their ¢haritable objectives. Restricteé funds are subject io specific conditions by donors as to how thèy may be used. The purposes and uses ol the restricted funds are set out In the notes to ihe financial staiement 1.4 Income Income Is reco8nised when the charity 15 legally entitled to it after ally performance conditions have been met. the amounts can be measured reliably. and it 15 probable that income will be re£eived. Cash donations are rec￿nISed on receipt. Olher donations are ¥ecogni5ed once the charity has been notified of the donation. unless performance conditions require deferral of theamount. Incometax recoverable in relation to donations received under Gift Aid or deeds of covenani is recognised at ihe time ol the donation. Le8acies are recognised on receim or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount 15 not known. the legacy is treated as a contingent asset. 27 THE BRAUNSTONE FOUNDATION NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Account5ng pollcles Expendlture Expenditure is re(08nlsed once ihere is a legal or construaive obligation to transfer economic benefit to a third party. it is probable thai a transfer of economic benefits will be required in settlement, and the amount of the obli8ation can be measured reliablv. Expenditure is cla55if1ed by activity. The co5t5 91 each activity are rnade up of the total of direct costs and shared iosts, includin8 SUPPOrt costs involved in yndenakin8 each activity. Dirert costs attfibutable to a single activity are allocated directly to that activity. Shared cost5 which contribute to more than one activity and support costs which are not atiributable to a single actlvlly ère apportioned between those activifies on a basis consistent with the use of resources. Central statt costs are allocated on the basis of tlme spent, and depreciation charges are allocated on the portion ol the asset's use. Tanglblt fixed assets Tan8ible fixed a55ets art inilialty measured at cost and subsequently measured at cost or valuation. nèt ol depreciation and any irnpairrnent losses. Depreciation is re(08nised so as to writeoff the cost or valvation of assets less their residual values over their useful lives on the followin8 bases: Fixtures. fittings & equipment 15% per annum reducing balante basis For Land and 8uildin85 a review ol the market valut ol the ¢harity's propertie5 are undertaken annually. with an external valuation undertaken every 2 years. On thi5 basis no depreCIat￿n ss charged on an annual basis but an impoirment review undertaken instead with any impaired amounts written olf to the Siatement ol Financial Activities. The gain or loss arisln8 on the disposal of an asset is determined as rhe difference beiween ihe sale proceeds and the carrying value of ihe asset, and is reco8nised net incomellexpenditurel lor the year. 1,7 In¥estment propertles Invesrmenr propertvi whiih is property held to earn fenta15 andlor for capital appreciation. is initially measured ai cost and subsequently measured usin8 the lair value model and stated at lis lair value as the reportin8 end date. The surplus or deficit on revaluation is recognised in net incomellexpenditurel fof the year. Flxed asset In¥Èstments Fixed asset investment5 are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are reco8ni5ed in net incomellexpenditurel for the year. Transaction costs are expenseij as incurred. A subsidiary is an entity controlled by the parent. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activ¢(ies. Impairment of fixèd assets At ea£h reporting end date, the charity reviews the carrying amounts of lis iangible assets ro determine whether there is any indication that Ihose assets have suffered an impairment loss. If any suih indication exists, the recoverable amount of the asset is estimated in order to determine the e￿ent of the impairmeni loss lif any). 1.10 Cash and cash equlvalents Cash ènd cash equivalents includetash in hand. depK)sits held at call with banks. other short-term liqusd inve5tmentswith original maturities of three months or less. and bankoverdrafts. 8ank overdrafts are shown within borrowings in current 28 THE BRAUNSTONE FOUNDATION NOTESTO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ountln8 polkles 1.11 Fln?n¢hl Instruments The charity has elected to appty tht provisions of Section 11 'Basic Finantial Instrurnents. and Section 12 '0ther Financial Instruments Issue5, 01 FAS 102 to all of its financial instruments. Financial instruments are reco8nised in the charity's balance sheet when the charity becom￿ party to the contractual provisions of the instrvment. F5nancial asséts and liabilities are offsèt. with the net amount5 prèsented in the financial statèment5. when there is a le8allv enforceable right to set off the recognised arrrfjunts arbd there 15 an intention to settle on a net basis or to realise the asset and Settle the liability simultaneously. Baskflnonclolossets Basic financial a55eis, which include debtors and cash and bank balances. are initially measured at transaction price Including transaction costs and are subsequently carried ai amortised cost usin8 the Èffe(tive interest meihod unless the arrangement constitutes a financing transaction. where the iransaction is measured at the present value ol the future receipts discounted ai a market rateof intere51. Financial assets classified as receivable within one year are not amortised. 8oslcflnunclol Ilubllltles 6asit financial liabilities, including creditors and bank loans are initially recggnised at transaction price unless the arrangèment constitutes a linan£iTh8 transaction, where the debt instrument is measured at the present value ol the future payments discounted at a market rateof interesi. FinarKial liabilities classified as payable within one year are not amortised. Debt Instruments are subsequenily carried at amortised cost, usin8 the effeuive interest rate method. Trade creditors are obli8aiions io pay lor goods or servitès that have been acquired in the ordinary course ol gperatsons from supplitr5. Amounts payable are tlassilied as currènt liabilrf(ses if paymènt is due within onè year or less. If noi, they are prèsènted as non-current liabilities. Trade creditors are retO8nistd initially at transaction price and subsequenilv méasured at arnortisèd cost using the effÈ¢tivè iniere5t meihod. Derecoqnltlon olfinantlol Ilobllltles Finan¢ial liabilitie5 arè derecognised when the ¢harit¢5 COntr￿u?1 obligations expire or are dixhafged or cancelled. 1.12 Employee beneflts The cost of any unused holiday entitlement is reco8nised in the period in whith the employee's services are received. Termination benefits are reco8nised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retlrement benefbts The charity has been admitted to the Social Housing Penston Scheme. a defined benefit scheme, which is externally funded and contracted out of rhe State Earnings Relaied PensN)n Scheme. The fund is valued at least every three years by a professionally qualified independent attuary wr(h the rates of contribution payable being determined by the trustees on the advice of the attuary. In the intervening years. the attuary reviews the progress of the scheme. The scheme operates on a pooled arrangement. with contiibulion5 pèid at a tentrally agreed rate. A5 a consequence, no share of the underlyin8 assets and liabilities can be directly attributed to the chèiity. Llnder the terms ol FRS17, in these circumstance5 iontributions are èciovnted for ès if the Scheme were a defined contribution scheme based on artual contributions paid throughout the year. The net interest elernent is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined beThefrt liabiliiy during the period as a result of contribution and benefit payments. The net interest 15 T￿ognised in incomellexpendfrturel for the year. 29 THE BRAUNSTONE FOUNDATION NOTE5 TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The net interest èlement 15 determined by multiplying the net defined benefit liability by the discount rate, takin8 into account any change5 in the net defined benefit liability durin8 the period as a result of contribution and benefit payments. The net interest is recognised in incomellexpenditurel for the year. Remeasuremeni changes comprise actuèrial gains and losse5. the effect of the asset ceiling and the return on the net defined benefit liability excludin8 amounts included in net interest. These are recognised immediately in other recognised gains and losse5 in the period in which they (Kcur and are rtrot reclassifieij to incomellexpenditurel in subsequent periods. Crhlcal ac¢ountln8 estlmates and I￿1¢¢Ments In the applicatton of the chafitws accounting policies. Ihe trustees are required to make judgernent5. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparènt from other sources. The estimates and associated assumptions are based on historical experience and Oiher fattors that are considered to be relevani. Actual results may differ from thèse estimates. The estirnates and underlyin8 assumptions are reviewed on an ongoing basis. Revisions to accountin8 estimates are recognised in the period in which the estimate is revised where the revision affetts only that period, or in the period of the revision and future period5 where the revision affects both curreni and futvre periods. 30 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Dona￿0￿9 and kgatbts Unrestrlrted Funds 2025 Aestrlcted funds 2025 Tt)tsl Unrestritted funds 2024 Restricted funds 2024 Total 2025 2024 Donations and gifts Grants 18.275 19,550 $50 352.498 18.825 372.048 14,377 32,306 14.377 629,180 596,874 37A25 353,048 JX)A73 46.683 S96,874 643,557 Unrestrkted Funds 2025 Restrirted funds 1025 Totsl Unrestricied funds 2024 Restricted funds 2024 Total 2025 2024 Donotlons General donations 18.275 550 18,825 14,377 14,377 18275 550 18A25 14,377 14.377 Grants RKebvable BIE Loitery Community Fund Work Live Leicestershire Police Crime Commissioner NHS En8land ILLR CCGI Gettin8 Help In Nei8hbourhood5 Grant HAF Holiday Hun8er kheme Anti Poverty Grants YIF Capital YIF Revenue National Lottery Mental Health Naiional Grid Sport En8land Population Health Mental Health Co-ordination Grant Onè Call That's All LVSRA Reachin8 People UKSPF Community Asset Grant Other sundry grants 3.706 3,706 29,198 29.198 49,79) 47,303 49,790 47.303 49,790 59.(XJS 8,427 389,376 49,844 17,943 12,000 9,489 49.790 59,005 8,427 389,376 49,844 17,943 12.000 9,489 I.￿10 73,356 63.576 32.471 73,356 63,576 32,471 Is.( 15.iXX) 19,550 19,550 19.804 14.LNYJ 22.000 22,000 19,804 14.LM)O 600 19.550 352.498 372.048 32.306 596,874 629.180 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charltawe artlvltles 2025 Unrestrided 2025 2025 Tot•1 Re5trKted Servlces Provided Undèr Contract Other Income Advertising Intome Rent & Room Hire 362.49S 84.478 630 1.053.21)0 362,495 99.250 630 1.053.21)0 14.772 J.5LK).803 14,772 1.515,575 2024 2024 Unrtstrfrted Restrlrted 2024 Totsl Seryices Proviijed Under Contract Other Income Advert5sin8 Income Renr & Room Hire 362,509 71,779 2,345 1.016,783 362,S09 84,343 2,345 1.016,783 12.564 1.453,416 12.564 1.465.980 Investments 2015 2025 2025 Unresirkned Desl8n•ted Total Interèst receivèd 9,080 9.513 18.593 9,513 18.593 2024 2024 2024 Unre$trirt*d Desyated Total Interest received 8.987 10.809 19.796 8.987 io 19,796 All interest received comes from monieson deposit. 32 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EAIDED 31 MARCH 2025 Analysls of group rtsources expended for charltsbfe athltles Charlt•ble Charltsble Charitable Charitable Art￿￿leS Total Artivities Activlties Total Unrestrlrted 2025 Unrestricted Restrirted 2024 Staff costs Dèpreciation and impairrnent Premises costs 682.117 137.605 819.722 623,843 109.463 733.306 1,415 407,668 1.415 608,544 2,075 23.137 1,665 436,265 1,863 14.826 1,665 671,788 2,429 39,032 21x1,876 209 235,523 566 Motor and travel 1.866 21.250 Le8al and professional feès Project a£tivity and eoulpment costs Supplies and services Irrecoverablè input VAT Bank charges Bad debts I￿7 24,206 146,gY12 12,168 65,421 3SO 79.754 1,721 30.$86 226.6S6 13.889 96.CrfJ7 350 125.546 10.899 78,393 1,164 2,383 65,295 4,112 15,873 190,841 15,011 94,266 1.164 2.383 8.546 8.546 1,347,703 452.638 I.8[￿.341 1.296.847 455,038 1,751,885 Share ol governance costs (seè note 91 95.041 95.041 88,893 1.385,740 88.893 1.442.744 452.638 1,895.382 455,038 1,840,778 Anafysls bylund Unrestricted funds 1,408,183 1,408.183 34,561 452,638 1,337,024 48,716 1,337,024 48,716 455,038 Desi8nated funds Restricted funds 34.561 452.638 455,038 1.442.744 452,638 1.895.382 1.385.740 455,038 1,840,778 33 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 C05t of generating funds Total 2025 Total Z024 Unrestrict¢d Restrirted Staff costs Premises costs Motor and travel Legal and professional fees Supplies and services 165.203 93.706 503 2.650 72.798 165,203 93,706 503 2.650 72,798 157.469 88,985 188 2,750 50,233 334,860 334,860 299,625 Support Costs 2025 2024 Governance costs 95￿41 88.893 GDvèrnant* Costs Staff cost5 Audit and accountancy fees 69.791 25.250 64.393 24.500 95.041 88.893 Analysed between Charitable activities Unrtstritted 95.041 95.041 88.893 88.893 Governance costs incluijes paymenis to the audilors of £25.25012024 £24.scKII for audit services and other advice within the 8roup. Net movernent In fvnds The net movement in funds is ￿ated after chargi@Icreditin81'. 2025 2024 Fees payable to the auditor Depreciation ol owned rangible fixed assets 25250 1,415 24.500 1.665 10. Trustees None ol the Trustees lor any persons connected with them) re(eive¢J any remuneration or benefits from the charity during the year. In 2024 Trustees travel expenses paid were £nil. 34 THE BIIAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11. Employee5 Number of employees The average monthly number ol èmployee5 during the year was.. 2025 2024 Number Number All staff 41 40 41 40 Ernployrnent costs 2025 2024 Wa8es and salaries Social security costs Other pension costs 826,452 63,600 162,159 74S.507 55.346 154,315 1.052.211 955.168 Included within pension cosis are payments io the multi-employer pension scheme- details ol which are Included in the notes to these accounts. The number ol employees whose annual remuneration was £60.CthJ or morè 2025 Number 2024 Number Band £60.IXKI to £70.IXKI Band £70,000 to É80,000 Band £80.000 to £90.C Remuneratlon of key mana6èment ￿￿$Onnel The remuneration ol key mana8ement personnel is as follows. 2025 2024 A8gre8ate compensaiion 163.186 158,937 The remuneration of key managernent personnel includes emoluments from employment. employer pension contributions and employer national insurance. 35 THE BRAUNSTONE FOLINDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12. Net 8ainsll1055esl on Imiestments UnrestrKted Funds 2025 Total 2024 Revaluation of investment Pfoperties 1668,¢J)01 13. T•nilble Ilxed assets (Group and Charltyl land and bulldin Fixtures, littlngs & equlpment Totsl Cost At l April 2024 Revaluation I,337,c￿) 399,809 1,736,809 At 31 March 2025 1,337,CQ) 399,809 1.736,809 D*preclatlon and Impalrmènt At l April 2024 Depreciation charged in the year 390.377 1.415 390,377 1,415 At 31 March 2025 391,792 391.792 Carryfjni amount At 31 March 2025 1,337,C(rf) 8,017 1,345,017 At 31 March 2024 1.337.1 9,432 1,346,432 Land and buildings with a carrying amount of £870.012 were revalued ai 24 May 2019 by Innes England, independent valuers not connected with the charity on rhe basis of market value. Innes En8land valueil these properties at £l.010,000. In March 2022 a furrher valuation was undertaken with these propertie5 now valued £1.214.C4)O a further uplift of £204,000. In March 2024 a further valuation was undertaken with these propertie5 nowvalued £1,337.Cth which 5how5 a uplift in value of £123,(JJ). All of the valuations conform to International Valuation Standard5 and was based on re(ent market transactions on arm's length terms for similar properties. The Trusiees have taken the decision not to depreciate assets. At 31 March 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximaiety £825.10812024- £832,6021. The trustees have reviewed the revalued properties and believe there to be no M￿erIal movements durin8 the year. The revaluation balances are disclosed in note 22. 36 THE BRAUNSTONE FOUNDATION NOTE5 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investment property (Group and Charltyl 2025 Falr value At l April 2024 Net 8ain5 or losses throu8h fairval¢Je adjustments 7,222.IX¥) At 31 March 2025 7.222,000 All Investment properties. with an historic carrying amount of E6.430.ofKJ were independently valued and 8ave rise to r￿aluatIon 10 £6.745.OLX) an uplift of £315.OCKI when revalued on the 24 May 2019 by Innes En8land. In March 2022 a further valuation wa5 undertaken with ihese properties now valued £7.890.000 a further uplift ol £1,145.000. In March 2024 3 luriher valuation was undertaken with these properties now valued £7,222,000 which shows a reduction in valuè of £668,CKXI. The valuations were all madè on an open market value basis by reference to market evideFice of transaction prices for similar properties. The Trustees have 8iven dueconsideration to thevaluat*on of the investment Propenies it holds in its portfolio of assets. In particular the Brabnstone Health and Social Carecenrre which fell in value last year dve to the valuation methodolo8V adopted. And g￿Ven the prèvious merhodology used by our Valueis in the latest Asset Valuation Report120241, which had an estimated yield of 7.5%. When sei aeainsi the caliulated 23% uplift in rent payments from the main tenants leftective May. 20251, lor the followin8 S years io the ent101 the currtnt Lease, the Trusiees believe any potential fall in value in 2024 is greatly mitigated because ol this agreèment. Thrydo nol believe there to be a material de-valuation of the asset on a Fair Market Value basis ai ihis time. Our next assets valuaiion will be commissioned in 2026 and in light of the outcome ol this. in fe8ards any furthèr de¢reased value. Trustees will consider the matter a8aln. IS. Flxed asstt In¥èstrnènts (Charltyl Share In group undertakl Cost or Valuatlon At l April 2024 & 31 March 2025 Carryln8 amount Al 31 March 2025 At 31 March 2024 2025 20Z4 Other investments ¢0mpri5e-. Notes Investments in subsidiaries 26 The charity holds the one share of £1 in its wholly owned trading subsidiary company B-lnspired Ltd which 15 incorporated in En8land and Wales. Thi5 IS the only share allotted, called up and fully paid. 37 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 16. Debtors Group 2025 Group 2024 Char 2025 Charlty 2024 Amounts fall1￿ due wlthln one year: Trade debtors Amounts due from Subsidiary undertakin8S Other debtors 195.974 63.075 180.787 7.293 11,548 32,934 46,223 1.292 11.548 1.292 207.522 64,367 199,628 80,449 17. Credltors Group 20Z5 Group 2024 Charlty 2025 Ch•rlty 2024 Amounts fall1￿ due wlthln ont y*ar: Trade Creditors Other taxarion and social secvritv Vat payable Other creditor5 Accruals and deferred Income 25,786 15,642 35,329 123,496 79.440 3.628 13.988 34,317 155.715 88,967 18.049 15.642 26.274 8,957 66,905 2.555 13.988 26,271 45,005 77,514 279,693 296.615 135,827 165,333 38 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18. Provlslons for Ilabilities 2025 2024 Retiyement benefit obligations 19 391,LK 543,C(K) 391.000 543,000 19. Dèfined Benefrt Penslon Scheme The company participates in the So(ial Housin8 Pension Scheme Itht Sthemel. a multi-employer scheme which provides benefits to Some SCKI non4ssociated employers. The Scheme is è defined benefit scheme in the UK. ThÈ Scheme is subject to the fundin8 le8islation outlined in the Pensions Art 2(￿ whlih came Into for¢e on 30 December 2005, This, together with docurnents 15sued by the Pensions Re8ulator and Technical Actuarial Standards issued by the Financial Reporting Council. set out the framework for fundin8 delined benefit occupational pension schemes in the UK. The last triennial valuation olthe scheme for fvndin8 purposes was ¢4rried out as at 30 September 2023. Thls valuation revealed a delicii of £700million down from El.522million. A Recovery Plan is in place with the aim of removin8 this deficit by 31 March 2028. The Scheme is classified as a'last-man standing arran8emenr' Therefore the company is potentially liable for other participatin8 employers, obligations if those employers are vnable to meet their share of the scheme deficit followin8 wlthdrawal from the Scheme. Panicipatin8 employers are le8ally required to meet their share of the Scheme deficit on an annuity purtha5e ba515 on withdrawal from the Scheme. For linanctal years endin8 on or before 28 February 2019, it ha5 not been possible for the company to obtain sufficient information to enable it to account lor the Schemè as a defined benelii scheme, therefore the company has accounted for the Scheme as a defined contribution schemè. For financial yeaisèndin8 on orafter 31 March 2019. it is possibleto obtain sufficient inform4tlon to enable thecompanv to account lor the Scheme a5 a defined benefit scheme. 39 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 FAIR VALUE OF PLAN ASSETS. PRESENT VALUE OF DEFINED BENEFIT OBLIGATION AND DEFINED BENEFIT ASSET ILIABILITYI 3V0312025 3V03IZ024 i£octhi I£LKX)sl Fair value of plan assets Present value of definefl benefit obligation 2.330 2.721 13911 2.329 2,872 15431 Unreco8nised surplus Dèfinèd benefit asset Iliabilityl to be recognised Deferred tax Net defined bènèfit assèt Iliabilityl to be reco8nised 13911 15431 13911 15431 RECONCILIATION OF OPENING AND CLOSING 8ALANCES OF THE DEFINED BENEFIT OBLIGATION 3110312025 Defined benefit obligation at start ol period Current service cost 2.872 Expenses Interesi expense Member ContrSbutlons 138 Actuarial losses18ainsl dve to scheme experience Actuarial losses18ainsl due to chan8es in demographic assumptions Actuar￿81 losse$18ainsl due to chan8es in financial assumption5 Benefits paid and expenses Liabilities acquired in a business combination Llabilitie5 extinguished on settlements L055e5 Itainsl on curtailmenis L05se518ainsl due to benefit changes Exchange rate £han8es Defined benefit obli6aiion at end of period 129 13291 1931 2.721 40 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENT5 ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF OPENING AND CLOSING BALANCES OF THE FAIR VALUE PLAN ASSETS Period from 31 March 2024 to 31 March 2025 l£(thsl Fair value of plan assets at start of period Interest income Experience on plan assets lexcludin8 amounts intlvdÈd in interest incomel gain Ilossl Employer Contributions Member Contributions 2.329 115 11511 130 Llabillties acquired Sn a busines5 combination Assets acqulred in a business combination Assets distributed on seitlemenis 1931 Ex£han8e rate chan8es Fair Value of plan assets ai end of period 12.3301 The actual return on plan asseis Ilncludln8 any chan8es in share assets) over the period from 31 Mar¢h 2024 to 31 Marth 2025 was £36,OQJ DEFINED BENEFIT COSTS RECOGNISED IN STATEMENT OF COMPREHENSIVE INCOME Perlod froffl 31 March 2024 to 31 March 2025 I£CKM)sl Current service cost Expenses Nei interest expense Losses18ainsl on business combination5 Losses18ainsl on settlements L05ses18ainsl on curtailments Losses18ainsl due to benelii chan8es 23 Defined benefit costs recognised in statement of compfehensive income Isocii 27 41 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19. Defined Benefit Pension Scheme Continued DEFINED BENEFIT COSTS RECOGNISED IN OTHER COMPREHENSIVE INCOME Perlod from 31 March 2024 to 31 March 2025 Experience on plan assets lexclu(lin8 amounts included in net inierest costl- gain Iloss) 11511 Experience gains and losses arising on the plan liabilities- gain Ilossl Effect5 of chan8es in the dÈmoBraphic assumptions underlyin8 the present value of the defined benÈlit obligation 8ain I10ss1 Effects ol chan8e5 in the financial assumption5 underlytn8 ihe present value of the defined benefit obligation gain Ilossl Toral èciuafial 8ains and losses (before iestriction du• io some ol the surplus noi bein8 reco8nisablel- 8ain Ilossl Eflecis ol chan8es in ihe amount ol surplus that is not recoverable (excludin8 amounts included in net interest costl- gain119s$1 11291 329 49 Total arnunt recognised in other comprehensive income- 8ain Ilossl 49 42 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ASSfTS 3110312025 l£(A)051 3110312024 I£OW51 Global Equity Absolute Return 261 232 91 Disrfessed Opportunities Credit Relative Value 82 76 Alternative Risk Premia 74 Liquid Alternative5 Emerging Markets Debt Risk Sharin8 Insurante-Linked Seturitits 432 30 136 12 Propertv Infrastructure 117 235 Private Equity Real Assets 279 Private Debt 92 Opportunistic Illiquid Credit Private Credit 91 285 Credit 89 Investment Gradè Credit 72 High Yield Cash 32 46 Corporate Bond Fund Liouid Credit Long Lease Property Secured Income 15 39 70 Liability Driven Investment Currency Hedging Net Current Assets 705 948 Total Assets 2.330 2.329 None of the fair values of the assets shown above include any direct inve5trnents in the employerf5 own financial instruments or any property ￿cUpied by. or other assets used by. the ernployer. 43 THE BRAUNSTONE FOUNDATION NOTESTO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19. Defined Benefit Pension Scheme Continued KEY ASSUMPTIONS 31 March 2025 31 March 2024 per annum % per annum Discount Raie 5.82% 3.10% 3.15% Inflation ICPII 2.79% 2.78% Salary Growth 3.79% 3.78% Allowance lor commutation of pension for cash at retlrement 75% of maximum allowance 75% 01 rnaximuffl allowance Thè mortality assumptions adopted at 31 March 2025 imply the followin8 life e¥pectancles'. ute expertancy •t age 65 IYe¥rsl Male retirin8 in 2025 20.S Fèmale retiring in 2025 23.0 Male retiring in 2045 21.7 Female retirin8 in 2045 24.5 20. Endowment fund The endowmeni fund Is è new reserve created in 2019 and resulted from the transfer of the Braunstone Health Centre from PA Housing and was inéependently valued at £5,1Th,(XK) by Innes Éngland. Grou and charftablt corn ASAI OVO¢I2023 Movements AsAt 3V0312024 AsAt oytsII2024 Movements AsAt 3V0312025 Capital Endowment 5,coJ,cK*J S,[￿,[￿xI s.000,o 5IXIO SXKII.000 sAKM),￿) 5.000,000 oroty r* Tr- vn in r4wothmryo ID t71 V e4 r ri ri r c> ry ryr¢tho OVOt In L• *4 ¢Th rj ¢> C> mo Lh ¢yJ V ¢D UK c ggg 00 p4 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 25. Flnancial tommitments. 8uarantees and contingent f￿bilitieS The charity currently pèrticipares in the Social Housing Pension Scheme ISHPS), whsch as indicated in notè 18 has a shortfall ol assets compared to liabilities. Where the scherne is in deficit and where the company ha5 agreed to a deficit funding arrangement, the company reco8nises a liability for this obli8ation. The amount fecognised of £391.000 is the net present value of the deficit reijuction contributions payable under the arrangement that relates to the deficit. 26. Sub51dlarles Details of the charity's subsidiaries at 31 March 2025 are 4$ folh)ws'. Name ol undertakl R￿[sItIed Office N•twe of buslness Class of sh•res held % Held Dlreti Indlrert B-lnspired ITradSn81 Ltd En8land Aenial of offKe space Ordinary I(￿.00 The charity own5 the whole of the issued ordinary share capital of B-lnspired ITfadin81 Ltd, a company registered in England. All aciivities have been consolidated on a line by line basis in the g)FA. Any total net profits will be gifted to the charily. A Sumfnary ol the results of the subsidiary is shown below.. PAnsplred {TradI￿> Ltd 2025 2024 Income Expenditure 494.419 1494,9121 491,431 1490,9381 Net prglitlllossl 14931 493 The aggregate ol the assets. liabilities and funds wa5= Assets 151.160 1151.1591 177,999 1177,5051 Funds 494 48 THE BRAUNSTONE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 27. Cash pntraied from operatlons 2015 2024 Deficit for the year 1305.2011 1679,0701 Adjustment5 for.. Taxation Investment in£ome reco8nised in 5tattmeni of linancial activities 118.5931 119.7961 Falr value gains and losses on Investment properties 668.¢J)O Depreciation and impairment ol tangible fixed assets 1.415 1,665 Movement5 in working capital.. Ilncreaselldecrease in dèbtors Increaselldecreasel in Creditors Increaselléecreasel in deferred income 1104,2251 164.8221 .970 350 83,097 138,4271 C•$h labsofbed byllgentraied from operatlons 1482.4561 15,819 28. Analysls of