Charity numb•r: 1140413 The Bradley and Katherine Wickens Foundation Trustees, Report and Financial Statements 31 December 2021 The Bradley and Katherine Wickens Foundatlon REFERENCE AND ADkqlNISTRATIVE DETAILS OF THE FOUNDAnoN. ITS TRUSTEES AND ADVISERS For the year Ond￿ 31 D•cfrmber 2021 Truste B Wickens K Wickens G Fuller Charity rnglsl•r•d number 1140413 Principal offl¢e Pudlicote House Pudlicole Lan8 Chpping Norton Oxfordshire OX7 3HX Audltors 81￿k Rothenberg Audit LLP Chartered Accountants 16 Great Queen Street London WC2B SAH Bankers Crti Private Bank 33 Canada Square Canary Wharf London E14 5LB Page I Thè Bradley and Kathorin• Wickens Foundatlon TRUSTEES. REPORT For th8 year ended 31 December 2021 The Trustees present their annual report together wrth the audited financial statements of The Bradley and Katherine Wickens Foundation for the year ended 31 De￿mber 2021. The trustees confirm that th8 annual report and the financial slalemenls of Ihe foundation comply with th8 current slalutory rèquirements, the foundation's governing documant and the provisb)ns of the Statement of Re￿mmended Practice {SORPI applicable to charities preparing their a￿o￿ntS in accordance with the Financial Reporting Stsndard applicable in the UK and RepublK of Ireland IFRS 1021 leffedive 1 January 20191. R8suIts The net outgoing resourc8s for the ended 31 December 2021 were £159,20212020'. incoming resourtes of £446,537} R•vi•w of governance and management The Bradley and Katherine ￿￿ken$ FourKlation (the foundation,) is 8 trust, with charitable $tslu$ and govemed by its Trust Deed. The foundation's operat￿g nan* 1$ The Broad Reach Foundation. The Trustees meet periodicalty to agro8 funding policy. monitor income and expenditure and ollocate fuThJs. New appointments must be proposed and agreed by current trustees. The B18dley and Katherine Wicken$ Foundation seeks to advance. promote or carry out. such charitable purposès as the trustees in their absolute discretion see fit. The foundath?n carries out these object5 by providing grants to suttable in$tiluti¢)ns in line wf(h th8 foundation's gfftnt making polic¢es detsilod bel¢)w. The Trustees consider that they have ¢￿￿lied with Section 4 of the Charft￿ Act 2011 wrth regard lo the guiJan¢e on public beneflt publlshed by the Charity Commission. Trusteès Th8 Trusl8es duiing the yearwere as follows: B Wickens K Wickens G Fuller Review of actlvltles During the year ended 31 DeCeM￿r 2021, £271,525 (2020- £261,020) was grantéd lo charttable organisalion$. Grant maklng pollcles The Charitys main objgctwes are to seek to improve the outlook for children and young people in the UK and the Emer9ing Markets by providing for a better education, improved he8llh and wellbeing and a more balanced rektKJnship with theiT environment. A furthor ¢)bjedive is lo seek lo improve the oudook for olhor people in Ihg UK by providing for a belter education. improved heatth and wellbeing. Thè board of Trustees s818Ct the instrtutions to be supported and formally approve support during one of hyo annual board meetings. The charitys grants are made to selected institutions that address Specff￿ education and wellbeing issues. wrth a focus on girls, education, girls, wellbeing, health and hygiene and birth control and tamily planning issues. The charity may also support largeled environmental issues. particularly nature nservalion. by supportirvJ organisalions that work closely with local communities and wider audiences lo establish. protect and maintain natural conservation areas that are threatened and vital to the continuation of a balanced and diverse environment. Gr8nts may only be made for purposes which are charitable under UK law. Page 2 Tho Bradley and Kathorine Wkkens Foundation TRUSTEES. REPORT (CONTINUED) For the year ended 31 December 2021 All grants are made to UK re9iStered charibes. Details of grants made in the year Can be found in note 4. Volunt•ers The foundation refjes on the contribution of its TTUStees who providè their service freg of Charge. Ro$eNes pollcy The foundation has been primarily funded through contribulions from Spinnaker Capital knmrted. No active fundraising from Outside contributors is expected. Initially the foundation aims to fund operating expenses and charitab￿ distributions solely through the income on the investment of f($ I￿Uld assets. The eharlly has no substantial fixed assets. no dedicaled office, and no employees., thu8 it does not hav reserves lied lo fixed assets. As a result. no add((1¢￿al reserves need to be set aside to respond to potential drops in investmènt retums or over811 income. Inv•stment poll¢y and porformance The Trustees have noted their responsibilty lo have regaTd to the suitabilty of investments lo the charty, onsidering the proportion of thè Trust Fund being invesled, the level of risk of the investments, and the accessibility of the Trust monies while invested. Thoy have also noted the r￿￿ for appropriate diversrfication of invoslments. In order to diversify risk, investments should be diversified as follows.. cash or other short-lemi mcffloy market instruments with maturities of no more than one year.. no less than 200% of the Trust Fund equtties.. no mre than 200h oftho Trust Fund bonds.. the remainder of the Trust Fund no individual securities lo compri86 more than 11Y% ofthe Trnst Fund The Trustees meet hYi¢e per year lo discuss the investments in tho Trust fund and review recommendations for future investment xtivity. At those m881ings, the Trustees revithv and, rf agreed, approve investment recommendations., and review the investments of the Trust fund to ensure that they continue to fuffil the stand￿d investment criteria describetj above. The foundation currently invests in bank fidu¢iary deposits and money markets. This policy will be reviewed annually. The aim of Ihg investments 1$ lo ensure that operating costs and grant making activity ¢an be funded solety with the income ￿ these liquid investments. Major risks As noted above. the foundation aims to fund ils artivrtie5 through the income from the investment of ils liquid assets, therefore the Trustees consider the major risks to relate to the ￿rfOrmance of these investments and of the wider global equities, fixed income and currencies markets. The Trustees are confident that the necessary management systems and strategies have been implemented lo mttlgale those risks. Trusteos. rosponslb115tl•s ststemont The trustees are responsible fr)r preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generalty Accepted Accounting Pradice). Page 3 The Bradley and Katherln• Wi¢k•ns Foundation TRUSTEES. REPORT ICONTINUEDI Forthe year ended 31 De¢emb9r 2021 The law applicable to charf(ie5 in England & Wales requires the Iru8tees to prepare finanGial sL*ements for each financial year which gNe a true and fair Mew of the stale of affairs of the foundation and ol the incoming resources and application of resources of the foundation for that p&riod. In preparing these financial statements, the Trustees are required to.. select sumable 8ccounting pc4icies and then appty them eon8iStently; observe the methods and principles in tha Charittes SORP., mak8 judgments and accounting eslimales that are reasonable and prudent., prepare the financial statements on the going concern ba$is unless ft is inappTopriale to presume that the foundation wll continu8 in Operat￿n. The tni8lees are responsible for keeping proper accounting ￿CordS that are sufficient lo show and explain th& foundation's transactions and dlsclose with reasonable accuracy al any time the financial position of th8 foundalion and enable th¢m lo ensure that the financial statements comply the Charities Act 2011, the Ch8rity (Accounts and Reports) Regulations 2008 and the provision$ of the trust deed. They are also responsible for safoguarding the assets of the foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltors Each of the persons who is a Irusteo at the dale of approval of this report Confinns that= So far as the trustee L8 aware, there is no relevant audit infomiation of which the trust's auditors aré unaware.. Th8 trustee has taken all steps that they ought to have taken as a trustee lo make themselves awar8 of any relevant audrt Intorynat￿ and to establish that Ihe auéitors are aware of that Infomiation. A resolution lo revappoint Blick Rothenberg Audit LLP as auditor for the ensuing year be prcposed at the annual trusteès meeting. Approved by order of the members of the board of Trustees on 31 October 2022 and signed on their behaw by. 8WI Tnj ke Page 4 The Bradley and Kath•rine Wlck•ns Foundation INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE BRADLEY AND KATHERINE WICKENS FOUNDATION Oplnlon We audrted the financial ststem&nts of The Bradley and Katherine Wickens Foundation Ilhe 'charty'l for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of signrficanl accounting policies. The financial reporting framework that has been applied in their preparation is appli￿ble law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Finan¢ral Reporting Standard applicable in the UK arKI Republic of Iroland. (United Kingdom Generally Accepted Accounting PractKe}. The financial statements have been prepared in acccfdance with Aceounling and Reporting by Charities preparing their accounts in accordance wr¢h the Financial Reporting Standards applicable in the* VK and RepublK of Ireland IFRS 102} in preferenc& lo the A¢counting and Reporting by Chaiilies.. Statement of Recommended Practs'ce issued on 1 April 2005 which is referred lo in th? extant regulations but has be8n withdrawn. Thi$ has been done in order for the accounts to provide a true and fair view in accordance wlh thé Generally Accepted Accounting Practice offective for reporting perK)ds beginning on or after 1 January 2015. In our opinicffi the financial statements.. give 8 true and fair view of the sLite of the charity's affairs as at 31 December 2021 and of ris irtcoff4ng resources and application of resources for the year then ended- have been propedy prepared in aecord8nce wrth United Kingdom Generalty Ac£epted Accounting Practice", and have been propared in accordance with the requirements of the Charities Act 2011. Basis for opinton We ￿ndUcted our audil in 0￿rdanc& With Inlemal>)nal Standards on Auditing (UK) {ISAs IUK>) and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the aud(( of the financial statements section of our report. We are independent of the chanty in a￿rdaftCe wlh the ethical requirements that are relevant lo our audit of the finan¢i81 statements in the United Kingdom. including the Financial Reporting Council's Ethical Stand8rd, and w8 have fulfilled our other ethieal responsibilities in aecord8n¢e with these requirements. We believe that the audit evidence we have obtained 18 Sufficient and appropriate lo provide a basis for our opinion. Concluslons r•latlng to going concem In auditing the financial statements, we have concluded that the Trustees, use of the 90ing concern basis of accounting in the preparation of the financial statements is appropriate, Based on the work we have performed, we have not identified any material uncertaintiès relating to events or conditions that, individually or collectively, may east significant doubl on the charitys ability lo continue as a going coneern for a perKid of al least ￿efve months from when the financial statements are auknrisèd for issue. Our responsibilities and the responsibilili8s of the Trustees with respect to going concern are destribed In the relevant se¢lion$ of this report. p￿e5 Thè Br•dl8y and Kath•rin• Wlckens Foundation INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE BRADLEY AND KATHERINE WICKENS FOUNDATION ICONTINUEDI othgr Inforniatlon The other information comprrses the information included in the Annual Report other than the financial ststements and our Audttor's Report thereon. The Trustees are responsible for the other inforniation contained within the Annual Report. Our opinion on the financial statements doe5 not cover the other information and. except lo the extent otherwise explicit￿ state