2023-06-30-accounts - The Badur Foundation

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		Page
Legal and administrative	information	2-3
Report ofthe Trustees		4-11
Independent auditors'	report tothe Trustees	12-15
Statement of financial	activities	16
Balance sheet		17
Cashflow statement		18
Notes tothe financial	statements	19-29

	Note	Unrestricted	Unrestricted	Total	Tota I
		Income Fund	Capital Fund	Funds	Funds
		2023	2023	2023	2022
		E	E	E	E
Income from:
Donations and legacies		798,868		798,868	15,000
Income from investments:
Investment income		752,580		752,580	488,405
Total income		1,551,448		1,551,448	503,405
Expenditure on: Costs of raising funds			33,149	33,149	176,755
Expenditure on charitable activities	4	871,974	1,326	873,300	658,811
Total expenditure		871,974	34,475	906,449	835,566
Net income for the year before gains and losses		679,474	(34,475)	644,999	(332,161)
Realised investment gains/(losses): - on foreign currency - on fixed asset investments		(22,232)	(39,252)	(22,232) (39,252)	5,673 236,387
		(22,232)	(39,252)	(61,484)	242,060
Unrealised investment
gains/(losses): - on foreign currency - on fixed asset investments		(104,665)	25,246	(104,665) 25,246	16,095 (38,188)
- on investment property			(1,320,353)	(1,320,353)
		(104p665)	(1~295107)	(1p399772)	(22,093)
Net gains/(losses) on investments		(126,897)	(1,334,359)	(1,461,256)	219,967
Net income		552,577	(1,368,834)	(816,257)	(112,194)
Transfer between funds		(938,523)	938,523
Net movement in funds		(385p946)	(430~311)	(816257)	(112194)
Reconciliation offunds
Balance brought forward at 1July 2022		1' 12p664	32p855~965	34p667~629	34,779,823
Balance carried forward at 30June
2023
		1425p718	32p425p654	33p851372	34667 629

					Note	2023	2022
						6	6
Fixed assets
Investment	portfolios					4,938,481	5,525,442
Investment	property					27,484,228	27,328,692
Tangible assets						2,945	1,831
						32,425,654	32,855,965
Current assets
Cash at bank and in			hand			2,009,477	2,438,754
Debtors					10	372,844	110,667
						2,382,321	2,549,421
Current liabilities
Creditors: amounts			falling	due within one year-		(447,651)	(213,007)
unrestricted
Net current	assets					1,934,670	2,336,414
Total assets	less current			liabilities		34,360,324	35,192,379
Creditors: amounts			falling due after more than one
Year - unrestricted					12	(508,952)	(524,750)
Net assets						33,851,372	34,667,629
Funds
uinrestricted	capital		fund			32,425,654	32,855,965
Unrestricted	income fund					1,425,718	1,811,664
Totalunrestricted		funds			13	33,851,372	34,667,629

					2023	2023	2022		2022
					f	f	f		f
Net cash inflow from	operating
activities (Note 15)						(149,586)			(234,167)
Returns on investment		and servicing
offinance
Dividends received					48,863		211,602
Interest received					30,859		156,958
Rent received					672,858		56,045
						752,580			424,605
Capital expenditure	and financial
Investment
Proceeds from sale of investments					2,864,336		30,840,418
Purchase offixed assets					(1,475,890)		(1,658)
Purchase ofinvestment			property		(2,440)		(27,328,692)
Purchase ofinvestments					(209,607)		(7,435,823)
						1,176,399			(3,925,755)
Effect ofcurrency translation and cash equivalents				on cash		(37,174)			292,144
Net decrease in cash						1,742,219			(3,443,173)
Analysis ofnet funds					Net	balance at 1July	Cash increase		Net balance
						2022	/(decrease)	in	at 30June
						f	the year f		2023 f
Cash at bank						2,438,754	(429,277)		2,009,477
Investment cash (see			note below)			365,277	2,171,496		2,536,773
						2,804,031	1,742,219		4,546,250
Note increasef(Decrease)	in	cash awaiting investment			(note 7)				2,081,774
tlnreagsed gains on	cash held			for investment					89,722
									2,271,496

Furniture,	fittings and	equipment	3years
Website	development	and design	3years

estment	income
			2023	2022
			6	6
interest	earned		30,417	156,909
Dividend	income		48,863	211,602
Rental income —Newman		Street	672,858	119,845
Otherlnterest			442	49
			752,580	488,405

enditure on charita	ble activiti	es
			2023	2022
			6	6
Grant-making (see below)			436,786	433,123
Charitable progra mmes Support costs Governance costs			9,278 242,291 11,287	201,163 13,100
Property expenditure	—Newman	Street	173,658	11,425
			873,300	658,811

The following grants were made during the	The following grants were made during the	The following grants were made during the	The following grants were made during the	The following grants were made during the	The following grants were made during the	year:
							2023	2022
							f	6
Barefoot Kitchen							5,050
Bike Stop							(17,342)	17,342
Brookside Theatre								5,000
Buddhist Heritage Project- Archive				buildin	g	repairs	16,030
Buddhist Heritage Project —Overheads								32,205
Creative Learning								6,650
Conservation Collective							8,358	1,750
Deer Wood Trust							12,237
Denton Youth and Community			Project				20,000	15,000
Devon Environment Foundation							5,000	9,000
Devon Wildlife Trust							15,000
Earth Doctors Ltd "Big	River Bakery"							5,000
Escape2Make								4,000
Firestarter Association								15,424
Flow Foundation								3,189
Foundation Futures							34,300	14,030
Green Schools Project							10,000	15,000
High Trees Community		Development		Trust			10,000	20,000
Kompania Foundation							223
Mahajana Foundation								9,045
Oswin Project							14,000
Plastic Free North Devon							12,000
Roma Minority Representatives							(1,180)	6,650
Romaversitas Ala pitvany								4,577
5 IMPACT							19,141
Smile For Life Children's		Charity	(SFL)				10,000	14,810
Stone Soup Academy							60,432
Tandem Theatre							430
Well Grounded							45,000	15,000
Wilder City							2,880	14,690
Women for the Future		Association:		Roma	H	eroes		22,000
Wonderworkshop Association								102,090
Woodshed Workshop	CIC						32,000	12,000
Youth Realities							13,200
Total ofgrants awarded							326,759	364,452
Support costs classified		as grant making					110,027	68,671
Total grant-making							436,786	433,123

eived remuneration and benefits amounting	to more than f60,000 in either year is n	il.
	2023	2022
	6	E
Salaries	170,702	112,968
Social Security Costs	16,411	17,068
Pension Costs	4,919	3,546
	192,032	133,582

Net inco	ming resourc	es
			2023	2022
			f	6
This is stated after charging:
Auditors'	remuneration	—audit ofaccounts	9,744	12,100
Auditors'	remuneration	—other services	1,988	4,120
Depreciation			1,326	3,143

vestments
			2023	2022
			6	f
Market value at 1July 2022			5,525,442	32,104,536
Purchases made during the year			209,607	7,435,823
Sales proceeds received			(2,864,336)	(30,840,418)
Increase/(Decrease) in cash awaiting		investment	2081774	(3,372,697)
Gains and (losses) on investments	for	the year
- Realised			(39,252)	236,387
- tlnrealised			25,246	(38,189)
Market value at 30June 2023			4,938,481	5,525,442

.	Investments continued	Investments continued	Investments continued
	Analysis ofmarket value at 30June 2023			2023	2022
				6	E
	Equities —listed on a recognised		Stock Exchange	609,534	628,298
	Bonds			1,050,676	2,354,777
	Absolute return funds			741,498	2,177,090
	Cash awaiting	investment		2,536,773	365,277
	Market value	at 30June 2023		4,938,481	5,525,442
g.	Investment	property		2023	2022
				6	E
	Fair Value at	1July 2022		27,328,692
	Additions			1,475,889	27,328,692
	Revaluation			I1,320,353)
	Fair value at	30 June 2023		27,484,228	27,328,692

. Tangible fixed asse	ts
		Furniture,	Website	Total
		fittings and	design and
		equipmentf	development 6
Cost At 1July 2022 Additions during the	year	23,867 2,440	5,956	29,823 2,440
Disposals At 30June 2023		26,307	5,956	32,263
Depreciation At 1July 2022 Charge for the year		22,036 1,326	5,956	27,992 1,326
Depreciation on disposal At 30June 2023		23,362	5,956	29,318
Net book value At 30June 2023		2,945		2,945
At 30June 2022		1,831		1,831
10. Debtors
			2023	2022
			6	E
Prepayments VAT recoverable Other debtors			34,115 338,729	30,405 43,053 37,209
			372,844	110,667
11.Creditors -Amounts	falling due within one year
			2023	2022
			6	6
Trade creditors Grant commitments Accruals and deferred Other creditors		income	45,011 94,901 252,606 55,133	21,822 111,775 75,331 4,079
			447,651	213,007

12.Creditors -	Amounts	falling due after	more than one y	ear
					2023	2022
					6	6
Grant commitments					20,000	16,850
Rent deposits					488,952	507,900
					508,952	524,750
13.Analysis of	net assets between funds
			Unrestricted	Unrestricted	2023	2022
			income fund	capital fund
					Total	Tota I
Tangible fixed assets				2,945	2,945	1,831
Investments	(including property)			32,422,709	32,422,709	32,854,134
Net current	assets		1,934,670		1,934,670	2,336,414
Creditors due after one year			(508,952)		(508,952)	(524,750)
Net surplus			1,425,718	32,425,654	33,851,372	34,667,629
14.Movement	in funds
			Unrestricted	Unrestricted	2023	2022
			income fund	capital fund
					Total	Total
					6	E
Balance at	1July 2022		1,811,664	32,855,965	34,667,629	34,779,823
Incoming resources			1,551,448		1,551,448	503,405
Resources expended			(871,974)	(34,475)	(906,449)	(835,566)
Realised/(unrealised) losses		gains and	(126,897)	(1,334,359)	(1,461,256)	219,967
Transfer between funds			(938,523)	938,523
Balance at	30June 2023		1,425,718	32p425,654	33,851,372	34,667g629

econciliation ofnet incoming resources to operating activiti	es
	2023	2022
	6	E
Net (deficit)/income for the year before (losses)/gain Depreciation charges Dividends, interest and rent receivable	644,999 1,326 (752,581)	(332,161) 3,143 (488,406)
(Increase) in deferred rental income (Increase)/decrease in debtors Increase in creditors	156,144 (262,178) 76,428	(63,800) (3,222) 562,562
Increase/(decrease) in grant commitments	(13,724)	87,717
Net cash inflow from operating activities	(149,586)	(234,167)

operating leases as fol	lows:
		2023	2022
Within one year			9,742
After one year but within	five years
Total			9,742