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2024-03-31-accounts

Charity number: 1155925

THE BROUGHTON FAMILY CHARITABLE TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

THE BROUGHTON FAMILY CHARITABLE TRUST

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Chartered Accountant's report 2
Trustees' report 3 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 16
The following pages do not form part of the statutory financial statements:
Charity Detailed income and expenditure account and summaries

THE BROUGHTON FAMILY CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees

Lady Jocelyn Broughton, Secretary Sir Martin Faulkner Broughton, Chair Mr Michael Charles Broughton, Trustee

Charity registered number 1155925 Principal office Rosemary House Woodhurst Park Oxted Surrey RH8 9HA

Accountants Calder & Co 30 Orange Street London WC2H 7HF

Page 1

THE BROUGHTON FAMILY CHARITABLE TRUST

CHARTERED ACCOUNTANT'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

We have prepared for your approval the financial statements of The Broughton Family Charitable Trust for the year ended 31 March 2023 which comprise the Statement of financial activities, the Balance sheet and the related notes from the charity's accounting records and from information and explanations you have given to us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/ regulations-standards-and-guidance.

This report is made solely to the Trustees in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Broughton Family Charitable Trust and state those matters that we have agreed to state to the Trustees in this report in accordance with ICAEW Technical release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Broughton Family Charitable Trust and its Trustees for our work or for this report.

It is your duty to ensure that The Broughton Family Charitable Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and net resources expended of The Broughton Family Charitable Trust. You consider that The Broughton Family Charitable Trust is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Broughton Family Charitable Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Calder & Co Chartered Accountants 30 Orange Street London WC2H 7HF Date: 27/11/2024

Page 2

THE BROUGHTON FAMILY CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the financial statements of the The Broughton Family Charitable Trust for the 1 April 2023 to 31 March 2024.

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. The trustees are satisfied that there are identifiable benefits and that these are made available to the public.

Achievements and performance

a. INVESTMENT POLICY AND PERFORMANCE

The primary role of the investment portfolio is to grow the real value of the portfolio as much as possible. The charity's investment policy restricts the type of investments held within the portfolio to no more than 15% in any single line of stock, and in addition, no property investments are permitted. There is no minimum yield requirement and the risk category is set at medium to high.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The trustees of The Broughton Family Charitable Trust undertake an annual review of the major risks to which the Charity's assets may be exposed in accordance with the requirements of the Statement of Recommended Practice 2005. Internal accounting records are sufficient to show and explain all the Charity's transactions.

Structure, governance and management

a. CONSTITUTION

The principal objective of the charity is to carry out activities for the benefit of the public by:

1) supporting other charities by means of donations;

2) such charitable activities for the public benefit as are exclusively charitable according to the laws of England & Wales as the Trustees may determine from time to time; and to provide donations and grants to individuals and other charities.

Page 3

THE BROUGHTON FAMILY CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (continued)

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The charity's activities are conducted by its Trustees.

Plans for future periods

a. FUTURE DEVELOPMENTS

The charity intends to further support other charities in their charitable purposes for the public benefit. Although some of the capital is likely to be distributed for charitable purposes, the primary objective is to distribute investment income.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 25 November 2024 and signed on their behalf by:

Martin Broughton

Sir Martin Faulkner Broughton

(Chair of Trustees)

Page 4

THE BROUGHTON FAMILY CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Independent examiner's report to the Trustees of The Broughton Family Charitable Trust ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Dated: 26 November 2024 Vaishali Morjaria ACA

Calder & Co Chartered Accountants and Statutory Auditors 30 Orange Street London WC2H 7HF

Page 5

THE BROUGHTON FAMILY CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
2
Investments
3
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net income/(expenditure) before net gains/(losses)
on investments
Net gains/(losses) on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
Unrestricted
funds
2024
£
233,620
4,590
238,210
76,860
76,860
161,350
14,486
175,836
154,473
175,836
330,309
Total
funds
2024
£
233,620
4,590
238,210
76,860
76,860
161,350
14,486
175,836
154,473
175,836
330,309
Total
funds
2023
£
-
4,463
4,463
121,401
121,401
(116,938)
(18,538)
(135,476)
289,949
(135,476)
154,473

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 16 form part of these financial statements.

Page 6

THE BROUGHTON FAMILY CHARITABLE TRUST

BALANCE SHEET AS AT 31 MARCH 2024

Note
Fixed assets
Investments
8
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
10
Unrestricted funds
10
Total funds
31,442
31,442
(1,260)
2024
£
300,127
300,127
30,182
330,309
330,309
330,309
-
330,309
330,309
7,887
7,887
(1,200)
2023
£
147,786
147,786
6,687
154,473
154,473
154,473
-
154,473
154,473

The financial statements were approved and authorised for issue by the Trustees on 25 November 2024 and signed on their behalf by:

Martin Broughton

Sir Martin Faulkner Broughton

(Chair of Trustees)

The notes on pages 8 to 16 form part of these financial statements.

Page 7

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

The Broughton Family Charitable Trust constitutes a public benefit entity as defined by FRS 102.

1.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about the contribution.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 8

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies (continued)

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

1.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

1.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

1.6 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 9

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies (continued)

1.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

2. Income from donations and legacies

Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Donations 233,620 233,620 -

3. Investment income

Unrestricted
funds
2024
£
Dividends
4,198
Bank Interest
392
Other investment income
-
4,590
Total 2023
4,463
Total
funds
2024
£
4,198
392
-
4,590
4,463
Total
funds
2023
£
4,232
227
4
4,463

Page 10

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2024
£
General Fund
76,860
Total 2023
121,401
Total
2024
£
76,860
121,401
Total
2023
£
121,401

Page 11

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. DONATIONS MADE

During the period, the charity made the following donations:

2024
£
SPYP 1,000
Royal Hospital 1,000
The Move Partnership 500
Helping Disabilities 1,000
Child Autism 500
Regenerate 500
Troupe 500
Happy Days 500
NACOA 500
The Old Vic Schools Programme 15,000
Steve Jobar Raceday 5,000
Otakar Kraus Music Trust 500
EHAS 2,000
Drama Expressions for Children 500
St Peter & St James Hospice 1,000
Kids Matter 1,000
Scampps in Surrey 1,000
Childrens Air Ambulance 1,000
Able Kidz 500
Demand 500
Strongbones Childrens Trust 1,000
Physio Net 1,000
Joseph's Smile 1,000
Clowns in the Sky 1,000
Sadlers Wells 615
British Blind Sport 1,000
Crohn's & Colitis Relief 500
Ditch the Label 500
Cheer Up Squad 500
Second Chance 1,000
Dogs Trust 1,000
Climbing Out 500
The Old Vic 2,250
Support Line 500
Maxability 500
Sixty One 500
On Course 1,000

Page 12

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Read for Good
Brain & Spine
Listening Books
Sofa Project
Hearing Dogs for the Deaf
Clothing Solutions
Prostate Cancer UK
Walking with the Wounded
Royal National Theatre
Parallel Youth Enterprise
NYJO
Hot Line Meals service
Grove Adventure Playground
Orpheus Centre
Douglas Bader Braves
NARA
Young & Free
The British Racing School
Eden Christian Trust
City of Westminster
Rubens Fund
Richmond Soup Kitchen
Child Autism
MERU
Other
1,000
500
500
500
500
1,000
250
500
5,741
3,000
1,200
1,000
500
500
500
500
500
1,000
500
500
(500)
(1,000)
(1,000)
1,000
8,250
75,306

6. Analysis of expenditure by activities

Direct and governance costs
Total 2023
Activities
undertaken
directly
2024
£
76,860
121,401
Total
funds
2024
£
76,860
121,401
Total
funds
2023
£
121,401

Page 13

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Donations
Investment management fee
Governance costs
Total 2023
Donations
2024
£
75,306
294
1,260
76,860
121,401
Total
funds
2024
£
75,306
294
1,260
76,860
121,401
Total
funds
2023
£
119,076
1,125
1,200
121,401

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) . During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .

8. Fixed asset investments

Cost or valuation
At 1 April 2023
Additions
Disposals
Revaluations
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
Listed
investments
£
147,785
573,791
(440,221)
18,772
300,127
300,127
147,785

Page 14

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Creditors: Amounts falling due within one year

2024 2023
£ £
Accruals and deferred income 1,260 1,200

10. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 Gains/ 31 March
April 2023 Income Expenditure (Losses) 2024
£ £ £ £ £
Unrestricted funds
General Funds - all funds 154,473 238,210 (76,860) 14,486 330,309
Statement of funds - prior year
Balance at
Balance at Gains/ 31 March
1 April 2022 Income Expenditure (Losses) 2023
£ £ £ £ £
Unrestricted funds
General Funds - all funds 289,949 4,463 (121,401) (18,538) 154,473

11. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 Gains/ 31 March
April 2023 Income Expenditure (Losses) 2024
£ £ £ £ £
General funds 154,473 238,210 (76,860) 14,486 330,309

Page 15

THE BROUGHTON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Summary of funds (continued)

Summary of funds - prior year

Balance at
Balance at Gains/ 31 March
1 April 2022 Income Expenditure (Losses) 2023
£ £ £ £ £
General funds 289,949 4,463 (121,401) (18,538) 154,473

12. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Fixed asset investments
300,127
Current assets
31,442
Creditors due within one year
(1,260)
Total
330,309
Total
funds
2024
£
300,127
31,442
(1,260)
330,309

Analysis of net assets between funds - prior period

Fixed asset investments
Current assets
Creditors due within one year
Total
Unrestricted
funds
2023
£
147,786
7,887
(1,200)
154,473
Total
funds
2023
£
147,786
7,887
(1,200)
154,473

Page 16

THE BROUGHTON FAMILY CHARITABLE TRUST

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

Charity Income
Dividends
Bank interest
Donations
Gains/(Losses) on investments
Realised gains/(losses)
Unrealised gains/(losses)
Gross income in the reporting period
Less:
Charity Expenditure
Management fee
Donations
Accountancy
Total expenditure
Net income/(expenditure) before taxation for the
reporting period
Tax payable
Net income/(expenditure) for the reporting period
Surplus/(Deficit) for the reporting period
Surplus/(Deficit) brought forward at 1 April 2023
Surplus carried forward at 31 March 2024
2024
£
4,198
392
233,620
(4,286)
18,772
294
75,306
1,260
2024
£
238,210
14,486
252,696
76,860
76,860
175,836
-
175,836
175,836
154,473
330,309
2023
£
4,232
231
-
(11,426)
(7,112)
1,125
119,076
1,200
2023
£
4,463
(18,538)
(14,075)
121,401
121,401
(135,476)
-
(135,476)
(135,476)
289,949
154,473

Page 17