CHARITY REGISTRATION NUMBER: 1187568 The Broadwa Cotta es Trust CIO Unaudited Financial Statements 31 March 2025 DAVIO KELLAND FCA Chartered Accountants Independent Examiner Meadows & Co Limited Headlands House 1 Kings Court Kettenng. Northants NN15 6WJ The Broadwa Cotta es Trust CIO Financial Ststemenls Year anded 31 March 202S Pages Trustees, annual report 1to3 Independent examine¢s Teport lo the trustees Staten*nl of financial actNitEs Statement of financial positson Notes lo the financial statements 7t014 Page 1 The Broadwa Cotta es Trust CIO Trust•es' Annu IRe Year ended 31 March 2025 The trustees present their report and the unaudrted financial ststements of the Charity for the year ended 31 Marth 2025. Refer8ncg and admlnlstrntlvfj dotalls Reglsterod charity name The Broadway Cottages Trust CIO Charfty r•gl$tratlon number 1187568 Prlnclpal offlce Ison Browne Solicitors Grange Park Court Roman Way Grange Park Northampton NN4 SEA Th• tfUSto0• MrRMOBaty MrMAPJeans Ms N K Wilson Mrs J E Marchand Mr J F Davis {Rasigned 8 July 2024) Indep•nd•nt •x4mln•r Davkl Kelland FCA Independent Examiner Meadows & Co Limrted Headlands House 1 Kings Court Kettering. Northants NN1S 6WJ Structure. 9ov•mance and manag•ment Constitution The Broadway Cottages Trust CIO is registere(I with the Chanty Commission number 1187568. The Trust was sel up in 2020 with simiL8r obje¢lives and acts'vities as Broa￿aY Cottages Trust Charity Commission no 203763, and the assets and liabilities of Broadway Cottages Trust were transferred al the end of 30th June 2020 to the new Broadway Cottages Tnjst CIO. Broadway Cottages Trust was created on 27th December 1943 by Alan Geoffrey Timpson and Mrs Ethel Beatrice Timpson. Organlsatlonal strucfvre The Trustees let and otherwise manage the propertie5 bebnging to the Trust. After the payment of expenses, th6 net annual in¢on* of the Trust is to be applied in providing benefits to other charitable organisations. Pagg 2 The Broadwa Cotta es Trust CIO Trystees. Annual Rg ort (contlnued) Yaar ended 31 March 2025 Structure, governance and management (contlntsedj Trustees Management of the Trust is by the Board of Trustees. The membership of the Board during the period 1 April 2024 to 31 st March 2025 is set out above Trustees are invited to join the 8oar(I generally on the recommendation of existing Trustee5. Training of trust••s Although there is no formal training programme for the Trustees, all have relevant experience, tC9ether with many years, service in their pOS￿"0n as Trustees. Rlsk managem•nl The Trustees review annually the major n$ks to which the chanty is &xposed, particularly those related to the operations and fi'nanc&s of the charty. Objoctlvos and actlvltl•$ The objects of the Tnjsl are lo alleviate and mitigate the hardships of people of limrted means rèsiding or who have resided in or near Kettering Northarnplonshire or elsewhere In the United Kingdom by the provision of housing al ￿nts wrthin their means, and the provision of financial assistance lo all such persons and other chantable instrtulions having similar objects as the Trustees may at their absolute discreti'on think proper. Publlc bènofit The Trustees of The Broadvoy Cottages Trust understand the need to have regard to the Charity Commission's guidance on public benefit. The Tru$lees recognise their ffjsponsibility to ensure that the benefi1$ offered by the Charlty are realised by promoling the Charty wrthin the county. As disclosed in tho aims and obiedves, the organisation beI￿veS in being fair, open and inclusive, Achlevoments and porfornianc• The Trust propeth'es remain al full ctcupancy and the Trustees continue to endeavour to cr8ate a harmonious atmosphere for the residents The Trustees continue lo implement the planned program of maintenance and improvement ol the properties. These expenses have limited the ability of the Trust lo support other ¢haritable aclwrb'es during the year. Page 3 The Broadwa Cotta es Trust cio stees. Annual Re rt (continued) Year ended 31 March 25 Flnancial revlew The funds of the Trust have been appli8d in maintaining the properb'es hekl by the Trust and making grant5 to organiSat￿n5 and individuals wrthin the te￿nS of the Trusl After allowing for the assets transferred from The Broadway Cottages Trust, the net incoming surplus for the pèriod was £3,453 {2024 - deficit £13.8951 before unrealised gains I Ilosses}. However, after unfealised gains I Ilossesl, the net movement In fvnds was a deficit of £20,157 12024 surplus £21,331). All the Trust's assets arg held for the specffic purposes of the Charty. The Trustees consider th& market value of the freehold land and buildings to exceed the balance Sheet value, bul do not consider the expense of obtaining a formal valuation to be justified as there is no intenlion lo dispose of any of the pfoperb.es in the foreseeable future. The buildings and contents are insured for £3.833.379 {2024- £3.758,213). The investments held by the Trust have be8n acqui￿ in accordance with the pjwers of the Trustees. Unrestricted fvnds at 31 March 2025 amounted to £1,100,47612024 - £1,120,633). Re$orves poliGy The Trustees have reviewed th& level of free Trserves which are unresth'cted funds not invested In fixed assets, held by the Charity. Al the year end, f￿e reserves far exceed the level of resources expended. At this level, the Trustees consider that in the short term, they have suffLienl resources to be able to continue the current aclivilies of the Charity in the event of a ￿dUCtion in fvnding and lo respond to any specrfic appeal by providing erther interest fr08 loans, substantial free loans or or substantial grants. Investment pollcy Brewin Dolphin has been authortsed to manage the Trust's investrnents on a discretionary basis. The Trustees have continued lo relain a large proporbon of Ib]uid fvnds to ensur& that they are available to conbnue funding the existing requirements of the Trust. Ev•nts after th• •nd of tho r•portlng pgrlod The Iruslees. annual ￿port was approved on 22 July 2025 and signed on behalf of the board of Iruslees by.. MrRM Truste Pagg 4 The Broadwa Cotta es Trust CIO Inde endent Examinerfs Re rt to the Trus f The Bro wa Cotta es Trust cio Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of The Broadway Cottages Trust CIO I'lhe Charity'l for the year ended 31 March 2025. Rospon$lb1ll￿es and basis of rep¢xt A5 the tnjstees of the Charity you are ￿sponsible for the preparation of the financial statements in accordance with the requ1￿Ments ol the Charrt￿& Act 20111.the ACVI. I report in respect of my examination of the Char￿'S financial Staten￿nts Carried out under section 145 of the 2011 Act and in ¢arrying out my examination I have followed all tho applicable Dirèctions given by the Charty Commission under section 14515){b) of the Act Ind•pondent •xaminerf• st•temont I have completed my examinats'on. I confim that material matters have come to my attention In Connection with the examinatson giving me cause to believe that in any material respect.. accounting records were not kept in ￿SPeCt of the Chanty as required by section 130 of the Act". or the financ￿1 state￿￿nts do not accord wrth those records. or the finan¢ial statements ¢Jo rK)t compty with the applicable requirements concerning the form and conlenl of accounts sel out in the Charits'es (Accounts and Reportsl Regulations 2008 other than any requirernenl that the accounts give a 'lrue and fairf view which 1$ not a matter considered as part of an independenl examination. I have no concerns and have CO￿ across no other matters in connection with the examination to which attent￿ft should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Oavid Kelland FCA Independent Examiner Independent Examiner Meadows & Co Limited Headlands House 1 Kings Court Kettering, Northants NN15 6WJ 22 July 2025 Page 5 The Broadwa Cotta es Trust CIO Slatsment of Flnancial Actlvttigs Year ended 31 March 2025 2025 Unrestncted fvnds Total funds Total funds 2024 Note Income and endowmonts Charitable activities Invéstment income 72,300 14,932 72,300 14,932 87,232 50,043 16,544 66.587 Total Incom• 87,232 Expendlture Expenditure on raising fvnds-. Investment management costs Expenditure on charitable a￿.¥￿'e8 Total expendlture 5.958 81,474 5,958 81,474 5,601 74,795 80,396 87,432 87,432 Net (Gainsllbsses on inve$trT*nts 10 (3,6531 (3,653) 86 Nat In¢omell•xpendlturnl 3,453 3,453 (13,8951 Oth•r r9cognl8￿ galns and losses Gains I Ilossesl on revaluation of investments Net movement In fund• (23.810) (20,1571 123,6101 120,157) 35.226 21,331 Recon¢lllatlon of funds Total Nnds brought forward Total fund8 carrled forward 1,120,633 1.100,478 1. 120,633 1,100,476 1,099,302 1,120,633 The statement of financial aclmlies includes all gains and bsses recojnised in th& yèar. All income and expenditure derive from continuing activilies Th8 notes on pages 7 to 14 forni part of these financial statements. Page 6 The Broadwa Cotta es Trust CIO Ststement (rf Financial Position 31 March 2025 2025 2024 Fixed ass•ts Tangible fixed assets Investments 14 15 467.479 572,972 467,479 596.881 1,064,360 1,040,451 Current assets Debtor5 Cash at bank and in hand 16 917 60.740 906 56,967 61.657 57,873 Creditors: amounts falllng due wlthin ong ygar Not curr•nt assets 17 1.632 1,600 60,025 1.100,476 1,100,476 56,273 Total •s¥ets le•s curr•nt liabllltl•• 1,120,633 N•t a88•ts 1,120,633 Funds of thè charlty Unrestricted funds 1.100.476 1,120,633 Total charlty fvnds 19 1,100,476 1,120.633 These financial statements were approved by the board of tnjstees and authonsed for issue on 22 July 2025, and are signed on b&half of the board by". MrRMOBatty Trustee The notes on pages 7 to 14 fonn part of these financial statements, Page 7 The Broadwa Cotta es Trust CIO Notos to the Financial Statomfrnts Year ended 31 March 2025 Gongral Infonnatlon The Chanty Is a public benefit entty and a registered charity in England and Wales and is a Charitable Incorporated Organisation. The address of the pnncipal office is Wilson Browne Solicitors, Grange Park Court. Roman Way, Grange Park, Northampton, NN4 SEA. Stat•m•nt of ¢ompllance The chanty constitLrte5 a public benefit entity as defined by FRS 102. The financial statements have been prepa￿d in accordance with Accounting and Reporting by Charilie5.' Slalemenl of Recommended Pra¢b"ce applicable lo charities prepanng their accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 1021, the Charities Act 2011 and UK Generally Accepted Accounting Practice. Accountlng pollcla• Ba•1* ol pr•paratlon The financial ststements have been prepared on the histoncal cost basis, as modified by the valuation of certain financial assets and liabilit￿ and investment properties measured at fair value through income or expenditure. The financial statements are prepa￿d in stsrling, wh￿h is the fvnckn.onal currency of the entity. Golng ¢oncom There are no malonal ur￿ertainl￿ about the ¢harity's ability to continue. Judg•monts and key source• of 08tlmatlon unwtslnty The preparat￿n of the financial statements requires management to make judgements, estimates and assumpt￿n3 that affect the amounts reported. These estimates and judgements are continually r•viewed and are based on experience and other factors. including expectations of future events that are believed lo be reasonable under the ¢ir¢umstances. Fund accounllng Unrestncted lund$ ao avaiLable for use at the disuetion of the truste08 lo fvrther any of the charity's purposes. Designated fvnds are unrestricted hjnds earmarked by the trustee$ for particular future project or coMmitff￿nt. Restricted funds a￿ subjected lo restrictsons on their expenditu￿ declared by the donor or through the terms of an appeal. and fall into one of ￿ sub-classes. wlricted income fLsnds or endowment funds. The Broadwa Cotta es Trust cio Notes to the Financial Statemen (contlnuedj Year ended 31 March 2025 Accounting pollcl8s (contlnued) Incomlng rg¥ources l incoming resources are included in the $latem8nt of financial activities when ep:-ew passed to the charity,. it is probable that the economic benefi'ts asso¢iated with the %-s)-.cr will flow to the charity and the amount can be reliabty measured The following specffe •-1 are applied lo particular categories of income. income from donations or grants is reeognised when there is evidence of enlillemeni - gift. receipt is probable and its amount Can be measured reliably. income is re¢ognised when re￿Ipl 1$ probable and 8rilitiemenl is estsblished. income from donated goods is measured at the fair value of the goods unless this .S impra¢lKal lo measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Oonaled facilities and services are recognised In the accounts when received if the value Can be reliabty measured. No amounts are included for the conlTibulion of general volunteer$. Incom& from contracts for the supply of sefvtees is recognised with the delivery of the contracted serv￿e. This Is classif￿d as unrestn.cted funds unless the￿ is a Cont￿¢tUal requ1￿ment for rt lo be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restn'cted Ro8ourc•• exp•nded Expenditure is reeognised on an accruals basis as a liability 1$ incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the $latement of financial aclivits'es to which rt relates.. expenditure on raising funds includes the costs of all fvndraising aclivitrès. events, non