Charlty Re918tradon No. 1191611 THE CAMELIA BOTNAR FOUNDATION {cio) TRUSTEES. REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 The Cowtyard 5horeham Road Upper Beethng West Su55ex 8N44 37N Tel.. 01903 816699 Em3il: enquiries tC-group.COE Web: WWbY.tC-gToup.com BUSINESS ADVISORS &A¢Ul{rAins
THE CAMELIA BOTNAR FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Reglstèred Officfr and Prln¢lpal Place of BUSI$5 The Cam8118 Botnar FoundaUon M8plehur5t Road Cowfold Horsham West Sussex RH13 8DQ Trustees Mr J C Dann Ichairl Mr J D Aptleton Mr G Booth Mrs S A Burford-Pugh hlef EKe¢utlv• Mr P Yallop Bankers Nalonal Westminster Bank plc POBtsx367 Crawley Wesl Su88ex RH101FT Soll¢hors PDT SollÈitor5 Pr8mier House 36- 48 Queen Street Horshatn West Su588x RH33 SAD H3 solitOrs 1 Oak Place Rgsier Business Park Coneyhurst Road Billingshurst West Sussex RH14 9DE Charfty Number Company Nurnber CE024084 Audltors TC Group The Courtyard Shoreham Rtsa¢J UppGr Beeding Steynlng West Sussex BN44 3TN Inve8tmtrnt Maar8 Sarasin & Partners LLP Juxon Hs9 1QO Sl P8uI'$ Chur¢hyard London EC4M 8BU
THE CAMELIA BOTNAR FOUNDATION CONTENTS Page R¢p)rt of Ihg Trustees Auditoff$ Report Con501idated statement olfinancial activities consolidat ba18nce sheet 12 Charity balanc8 8h88t 13 Consdidat8d statsmant ofcath ffows 14 Notes k>the ffin8ndal statements 15
THE CAMELIA BOTNAR FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
Tha Tru$t88s of the Cam81ia Botnar Foundation present their annual report and con501idatad audited accounts
forthe year 8nd8d 31 Dec*rnber 2024 and confim) they complywith th8 rEquir•m8Thts of the Charities Act 2011,
thg constitution 8nd the Charities SORP (FR$ 1021.
Purpos•
The Camella Botnar Foundatson ICIOI. wIste(t on 2 October 2020. giStratIon nurnber 1191611, operales
under a conslituts.on d81ert 18 August 2020 as am8nded by m8mb8rs' R8salub"on dated 18 June 2021.
Th& obl8¢1 of the Fwnd&tion, as slated In the arne Consutution. Is lo help aThJ e
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Alms Th8 Foundation, through its residgnllal 98tat8 alms to.. Ptovid& b&naficiarla$, known as Traln¢e$, with the opp¢rnIty to receive trainln9 and work oxperlence a sdectlon Df vocational disc1le5. provlde and prom¢lè the opportunity for top perfom71ng Traln89S to complement thelr pr&cfjcal tralning Ih courses &ith&r in th8 workplace or Dn day r&l8as8 In pathgrshlp th local cc41eggs in cfderto galn a recLNJnised qualification. provide an eTrvironm6nt which supports Trainee5' soclal and personal developrnenL The Foundation aiTn5 to provldè 8ducatiDnal grants, using IncomÈ generated by the OMCI Endowment Fund, to chlldren and young people wnsldered to bè in speoal need dueto dangerous, hlgh iiskandlorsevÉrelydeprive<l dome511c situations. Those who the Trustetrs beliéve would benefit from a stnjctured 6du¢alional ènv1r0nnnt are enabl to attend in(Jepand8nt education so they Can develop t1r capabilities. ¢otnp8ten¢ie5 and skills. Th8 FoundatSott awns to prowde grants for one-off Bducational 4ulpmènt acquisitions for the benefit of children and young PeIe considered to be spac1 n8ed to help improve their day-tsFday quality of life. Objectl¥e$ To maxlmise thè numbgrof Tr8ln8es suc¢essfvlly completing their plac8ment at thg Foundatlon. To enhanc8 and irnprove tho vocationa dl$¢iplines provided at the Fo(N)dation within the BuildirYJ Maintonan¢6, Carpentry. Catering, E5tstes Malnt8nan¢e, Horticulture. Motor M8chanics. Paintlng & Dectsrating and M8talwork D8partmenls. To provide slrategies to develop Train88s' sfylf-confidence and Indepèndent living abl168. To rnaintain and improve th& recreatiDnal £ctivitie5 8nd lei%ure facilities avalabl8 to TraIess. To Invest in the infrastructure oltho Foundation to maintaln hlgh standard5 and ensuT8 th£ Health and Safety of all employees and Trainees. To provide grants to qU81ifylng childr8n and young people. To htrlp young p60P Admlsslons PollGy l applicants must be d@om1 to b8 in sp8cial nged in l*ie wth thg FoundaVon'5 obl8Ct_ ATr applicant's economic statu8. gender, ethnicity, race. rdigion. geograph1¢ l(KaQon or disability do not form part of the a$sessmont process. No fees are charged so adrnisgn 15 not restrided by aTh ability to pay anil therafort prospective Traln88s In povety are not Èxduded from ihe opporbJnity to bgnefit. Potential Trainees must b6 aged betsve&n 16 and 24 and have 18fl full tirne 5¢hooling. Applicants should be in a disadvantag8d or problematic 511uatyon. They may bE referrgd to the Foundation by soLyal work8r8, school5, othw organlsations that assi$t young people in difficulty. Youth Offending Serwces, or direct approach from ralalves, guardians, or the appll¢anls themselves. Whatevar the r8fÈrral. each application must be vduntary. The Foundation Welcon$ applitrations vi8 Post. ernall orthe Foundation's website frorn anyone who mèpts the basic entry ciil6rla and who have a real snd positive commilmenl to learning a skilled Irsde and lo changè the pattem of their lif8 for the b8tler and for good. The owerriding r8quirarnent5 are that Trainees are seriously eommltted to leaming their chosen trade and are prBpar8d to adapt to the work Ètl¥c and to observe basic standards of b8h8viour. Grant maklng Policy- OMCI Endowmont Fund In assessing applicallon5 for assistancÈ with the c4st of Independ&nt eduCaon the Trusteès V1&w tho famlly, finan¢lal and medlcal drcurnstsnc&s of prospe¢live bengfi¢lary whllst in consideration of Ihe Foundetion's object. All appllc81ions musl be supported by ralevant documentation be th8y finanaal statemenls. social Worker reports, medical rgports or othercharflable organlsations, ca52worker reports. Ildeerned eligible an educatlonal grant 1$ made for one academie year and VieWed annually thereafter. In assessing aplicatrons for asslstance for One educational equipment wrchases the Trustees review all details olth6 case In consideration of th8 Foundation's obj8cL
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Revlew ofkhivv8m8nts and Performan¢• Tralnlng Courte Structure ond Outcomès Over the course of the year, we ¢ontinued 10 Seè great SUC$5 and achlevament5 from our Traine85. Dullng Ihe year the TrustBes ar@ pleas8d to typort that 81% (2023 60V.l olthe intake achieved a l8vel 1. cerICa1e of attsinmenl and 61°A 12023 40Yol achieved a 'level 2 rtIfICat8 of attainment. Whilst working towards their ¢artlfi¢ates Train88s arg a5s3led in producing 8 Ptsrtfolio to dornonslrate their training and wort( èxperlence. These achievements should be considered against the educatitsnal backgrounds of ourTrainees mostof ¥thn have not been successful in muttle traditional public sE¢lor aducation sgltings. To support their next stops Trafjnees a given 8ccessto a careers adsorwhOWIll a8SlSt in writln9 applications and CV'5. Several Trainees hawe received job offers one8 polonlal employers have review&d th&lr portfoli08. or thos8 Traine IBaviTrg us 50Wo wfj Confirmed into employm&nt. In support of the in-house trainiw and work 8xpÉrienc8 we hav8 cr8ated an onsilg tr8ining roorn and outd¢)or training ar8as where 8Xtem81 provi1Sers can d81nier¢ertSffl8d tralnTnas$essm8nts In the following 8re8s'. Emergency First Aid atwork Manual Handling. Nolse & Vibraoon Worklng at Helghls ROLO Htalth and Safety Tralning CSCS- Computer Based TralTr9 Food Hygl6n$ L?vel 2 360 Excavator (Digger) LILwse Dumper Truck Llcen5e FoiWift Liconse Hedge Cutter & Strimmer Lic8n8è ILantral hsinsaw Llcense- Maintenance & Cross-¢utbng (Lantral Chainssw Llcense- Felling ILantral Chalnsaw License- A$rial Rescue (Lanlra Chainsaw Li¢ensa- Climblng ILantTrl Chemical Spraying Llcense- PA1 Chemical Spraying License- PA6 NVQ- Levd 2 P8intsng and 8ra1[g NVQ- Level 2 Welcling & Fatiri¢aUon NVQ- Level 2 Carp8nty NVQ- Britklayin9 Abraspie Wheel License Self Help Psychology In addition, TIne&S are enwurag8d 10 study drfving theory th Ihe Foundatson psying for training resourcgs and entryfe8s for examination at local lesl ¢6ntre$. Those who pass thEir driving thèory 8ra glven a¢ctr55 10 practical driwng lessork8 paid tor by the Foundallon. Cobwgod Solar Fami Followffing the18ase option agrgemeiitwgned ift2023. agents acting forthe Fx)lential leas6hold8r$ubmlttÈd plans to Horsham Districl Coundl for detertnination. The Trustee5 ara pleased to note that the appllcation was approved on 21 May 2023. The Solar Fartn was designed to prowde up to 49.gmw of solar ellergy ¢opacity, powèring over 16.000 homes p8r annum which is approxirnately a quarler i)f th8 Horsham District's annual residential requirement. Key considetations in¢fuded protecbng particularvi8WS through Ihe Sile and providing gffective screening from tha vaniag8 POlTrtS around the Site, having suffiriènt setbacks from heritage assets 8$ well as negotiating appropdate sul10nS relating to flood Sk, drdinage snd acolDyy. Signlflcant on4ilo biodiversity net galns of 66% habKat unlts, 103.kn hedg8rtyN unlts and 113.8¥0 W8ter¢our8e unlts should also be achieved by the proposals. The potenllal leas8holder 1$ Dow seeklng to rnove fotwa¥d by socurfng contrdots for th8 energy produced and inv8sIMent lo deliver the project to completion. 11 Is expe¢l&d th81 thi8 mak8 take SDme further lime lo achieve.
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Thg Worshlpful Cornpany of Blacksmlth$ A mèmbei of Ihe cornpany attended the Metalwork Department to Judge the winner of the Hugh Adams Cup Competition. The Cup 15 awarded annually to th8 most promi$¢ng youry blacksmlth In tt)ts tradtliDnal art of Bl8ck5milhing. All train8e$ in Ihe department were encourag8d to design and blacksmlth a dècoTated Candle Centrepiece. The winner of Ihe cup was invited to the Worshlpful Company of Blacksmiths annual lunch and awards cowmony In the City of London. Health & Safety Manager The part-rn Health & Safety manager. who had b8on with The Foundal¥)n sin¢e 1994. rgtir8d from lys wsition in ApAI. Wlth the Trustees strong locus on HOth & Safety a detailed rÈview of the job fvnction identified the eed for 8 new full-time position of Heatth & Safèty Advisor. This F)st was proMpY creaied and filled. The Ghange of was made to reflect the sp(nSibilItles for Health & Saf8ty are sh8red betweèn all staff with the Adtsr in post to help departrllent rnanagars and tutors to effl¢lently dis¢h8Tge their duties. Wilh these changes ralian¢è on extemal Contractors was r8duc8d and intsmal resources are MO readity available to conduct spot che¢k$ In the workshops th thè aim of drwing continuous Improvement rathar than reaGtin9 10 Incidgnts andlor consultants recommendations made on an onnugl ba51S. Upgradas to Tralnlng Fa¢llltle$ Work lo refvrt)Ish lh8 main training kntchen$ was complet8d in January.. Replacement refrfgeratlon was Installed In the dry store aa with brand new walk-in fridg8 and freèzer rooms. The main house laundry roorn w8s also refitted vlith s(¥ne of the space givon ov8rto a kitch8n wash-up area. Improvemènt5 W8r8 81$0 made lo the earpgntry workshops wth measures to ensuro full complian¢& wlth the most recent He¥lth & Safèty Legis18tion. To effeclively Control dust a bTand-new Local Exhaust Ventilation System (LEVI was purchased #longside 8 new double bay dust extraction workbenth. The latest M Ua55 Fittration HEPAfilter vacuurn cleaners were purcha58d to remove any dust from the floor8. Proparty & DeveloF)m0nt Manager A new post of Prop8rty & Development Manager was cr8at8d th the vacancy filled In May. This rde ¥vas d85igned to consolidat8 SLime of fun¢tton$ pre%4ou$ly ddivortrd by extemal contractor5 with a 8trongor focus on increaslng income stream$ trom exlstlng investment prop&rties. Alongslde these Is a dÉsire to identity sotne 5mall-SC81e red8velopment projects within lh8 Ivorys Estat8 to incluije the conversiC of buildings which havs been vacant for sev&ral years. The new postt)older will also bè responsible for driving forward the Trusteos sustalnabllity ag?nda wlth consideration given to more efflclent Snsulation. heathng powBr generadon Systems. Charity Relail Consultants Frorn January untll October gxtemal ¢harfty retail consullants were 8ngag8d to work alongslde our retail leatns al Ihe Catnelia Botnar Garden Centr8. In lin8 with the approved str$legies Garden Centre Inv8lltory16vels w8re reduced and spa¢9 cleared in preparation for the plann charity Store. Durlng the course of their work th consultants identifi&d Skills gaps within th8 ?xisting managernanl 8tructur8, and it becamÈ nécèssary to reslruGturB the management of the Garden Centre. WMhln th8 scope of Ihe new structur6 8 new post of'Relall Directort Was created lo oversee and devglop both the Irading Subsidiary and the chartiy store. A doTraUons driv8 wa8 Put in place overthe surner months whilst th8 new charity Store retsil areawas populated wilh shop fittings and signage. The charity store openad in Sept¢mber wth sa18S W811 ah8ad of the inillal budgets. Charlty Shq) op&raUng profil frorn opening untll year-8nd amtsunted to £16.207. With further development the Trusts8S balieve this will be (2pable of providing a Significant new income str8am for our b6n8ficiari8$. Donatlon$ The trustees consid8red a funding r£quBst from Brighter Opportunities for Speclal People IBOSPI a small independent ¢harity that has be8n supporting famS1I85 fr)r over 33 y$ar5. Charity Number.. 1107392. BOSP improve8 the lives of d)Ildr&n young people with complex disabilitiès or lif&limiting ¢onditions by providlng high-quality. fun, educauonal a¢iivities, support 8nd resplt8 care. Having reviewed the impacts ol the pr0grarnfft being dellvered alangslde th¥ thallenges of raislng fund5 the trustee5 resolvad to make a donatlon of £50,000. Detsll$ of Indlvldual OMCI Endowmènt Grattts During the y8ar the Foundation swarded malch funded grants lo seven chlldren io allcyN thèm to aliÈnd boarding schoDI. The Trustees are pleased Its see those in receipt of grant5 m8k¥ng good progress in stable educational SettngS. Children in reipl of th8s8 granis often comè from very drfficult horne circurnstsnces rang Issue5 such as serious pantal IllnesdISablIltyb par8ntal Substance fflisuse and ottaslonally s&dous dafflgslic violetkce.
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Slgnifscant Events The Trustees have ro signfficanl 8vert8 to report In 2024. Fultsrp devBlopments FollovAllg the succassful opening ol th8 charily stoffj there are plans to orow the operalk)n and improve the buil(knngs it operates frun. We wlll ox2mlne optlon$ to th.ng the long lerm vaeant upper floors olour n$ Lyrjn rèiail investsnent property back into Use. We will bg looklng to repurpose the vacant squash court and library building C the Ivorys E8tste. It18 hoped that thi8 buildino can be used to generate incomè. We will examine oplionsto r8locat8 the Motor M8chaThi¢8 Training Fa¢ilty and Fam) Ma¢hinery lo a lo¢aUon alongside the Metalwort afid 8uildlngTTaining Facilitie¥. Th8 vacated bwldings may be used to 9enerate Income stream8. Key managemont p•rsonnèl The Trustees ¢onslder that ihey, together the Chlef Executive Officer compri58 the K8y M8nag8ment Personnel (see note 12 to th8 accounts). The Trustees give tmelr ts.me freely and the pay and remunerati( of the Chef ExecutNe Officori$ 8et by thg Trustee Board and is kept uNlerannual rewlew. A numbertsf crileria ar8 used in settlng pay.. natur8 of the rolo and rèspDll8ibllltlo8 ¢ompetllor salaTièS in lh8 region tho sp¢tor averagè salary forcomparablo FJSitior tr8nd8 In pay surcgssful dellvery of tho Foundation's aims and oEi8ctivo3 Prin¢lpal r15ks and Uncartaknes The Tiustees are responsible for the overseeing of the risks fac8d by tho Foundation. Dotsiled considerations of risk are delegated 10 the Chiaf Exgcubve Officer. Risk5 are idenbfi8d, ass8ss8d and controls e81ablish8d throghout tho year. A formal revSew of the charity'$ risk management processes is und8rtak8n on an annual basi5 Risk 15 managed urKler the h8ading8 of Governance and Manag8ment, Operational Flsk, Finandal Risk. Reputalonal Rlsk, Extemal Risk and Compliance wilh Law and Regulation. The main risk5 that the Trustees have identified and tho plans to manage tho88 risks are.. H88lth & Safety. Our Train2gs inGlude minors and vUlneb]e adults bvho are sornetirnes worklng wth dangerous ant and machin8ry. We employ a NEBOSH quallfied H881th and Safety Advlsortts revwN Health & Safety issuas on a regular basis. This ificlud88 t10M inspedion of risk assessmenis and m8lhod statements and frequent meetings to disGU5S and gddies5 issues identified. Our Trsinees receive training so Ihey can leave us havin9 gained work expÈriÉnce within a cultUTe whiGh sets Health & Safety as Its number priority. Reputation. We managg this risk thrwgh safeguarding polic¢es, slaff re¢rultment policies, pastoral supry)rtfor Train888. Through the risk manag&Tht processes established for the Foundation. the Trustees are salisfied that the major risks identified have been adequately mitigated Wre ne¢e$$ary_ It is re¢ognised that Systems only Knvlde reasonablÈ bLrt absolute assurance Ihat major risks have been adequatety rnanaged. P¢rftsmian¢¢ and Frnpact of subsldiary undartaklngs As menuoned previously Charity Retail Consultsnts were engaged from January lo October. Vwth the aTrned OP8ning of our Charlty Shop within th? Garden Centrp the consultants Worked to ieduce Inventory levels held by thE tradSng subsidiary. Results of this work saw gross salB8 marylns on some Iln8s signlficantly raduced. Htrwever, siock write-offs were kept to a low18vel. Tumover frf 2024 ru¢1 Its £966.62912023 £1.191,4001. There We ex¢eptional consultarry restrucluring c(>sts tolalllrKJ £80,527 whlch contributed to a op2rating 108$ of £84.581 for the year12023 operating profft of £40,040).
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal Ra•W A consolidated ststem8nt of financi81 actiVIeS Is presented on page 11. In the year, rosources 8xp&nded on charilabie 8Ctlvlles amounted to £2,699.706 of whleh grnt5 Df £73,500 werè made frorn th8 OMCI End0ment Fund. The Gost of 9en8rating funds amounted to £965,021. After gainsllosse8 on invesb))ent 3ss8ts and net movernent in fund8 forth8 yearwas an in¢roa5e of £3,853,766. The OMCI En¢Jowment Fund stood at£2.133,954. Grants pald from thè Endowment Fund of£73,500 wgre (Jxe88d8d by interesl recefvable of £85,387. The v81ue of quoted Investments managed by the Foundation's Inv8Stment Managers at the yearend stDod at £64,378.373. Thls doe8 nottak• into a¢¢ount the InMe receivBd ty the Foundation during the ar from th8S8 Investments of £2,135,05012023.' £1.905,8561 which 15 used, along wllh other investment Incomè, to fund the Foundation's operating ¢o$ts as oudined in the Nate5 to Ihe Accounts. The return from this elernent of the Foundation's funds reflécts falls in stock and bond markel pric85 resulting from changed Gavemrnent pdlcy. Although disappolnllng Ihe fund performance compares satisfactorily when revlw8d agalnst benchmark chartty lunds wth similar risk investment rKIiu8s. Re5erve5 and Financl81 Hoallh Th& Trustees regularfy revi8w the flnan¢e$, budgets and spend agalnst budget togetherwilh 8 monthly cash flow analysis as part of Ihe eff8ctiV8 Stewardshlp of thB Charily. Total funds held at the y88r4nd We £86.947,371 {2023.. £83,093.e051. Th8 Endowment Fund 8t the year-end stwd at £2,133.95412023.. £2,106.3291. The unreslricled funds al th y6ar-end stood at £84,813,41712023.. £80.987,2761 Included wthin Un¢ted funds are £5,586,18312023.. £5,616,974) Ihat can only ba reall$8d by disposing of tangiblè fixed 888ets. Thls glves free r8serves of £79,227,23412023.. £75,370.3021. The Foundation5 reserves policy 15 to use those sum$ to generate enough income lo sustain thg Foundallon's aims without need for additional fundraising or public sector grants. Investmont Pollcy and porlomian¢e Investtnent acUv6Ues are managed In Ilne wlth tt)e rcqulrem8nts of the Twstse Act 2000. The TtustEes have Ipointed Sarasin & Partners LLP as inveslm8nt manjerS. investment policy is a medium to Irm-risk approach forthe growu) of the porlfolio inv8slment5. Thg portttsllo valu8 atyearend stood at£64,378,37312023". £61,138,030) 1b an Income target of £1,680,000 pèr annum which ts Truste&$ consid6r prudent in order to protect the long-tgrm future of the investment portfolio frorn the effects of inflation. Investtnent properbes are manag8d by the TrusteBs with additional advlce frryn our professional adwsors, thè value of the Invgstment propert*s Is shown in the Account5. Incovne from the Endowment Fund is used to fund spÈcl81ist educatitsn and to purehase educatiDn81 equlpment for qualifylng Traine8s. Th8 r85tricled lunds are held in low-risk inv&slment funds which unexpèctedly declined In vue over the wurse ol the sufflmer. Thls I11 re5triGt grants until the capital value Dr th8 Endowrnent Fund has recov8r8d. AUDITORS So far as the Trustee$ are aware, there is no Idèvant audit informallon las dofined by Sedior 418 of th8 CoTnpanie$ Act 20061 of which the company's audiior8 are unaware. and aach Trustee has taken all th8 Step5 al they ought to have tskgD as a Trustee in ord8rto make thgmselv8s aware of any rdevant audit formaon and to 851abll$h that the company's auditOTS 8re aware of that informatlon. 819Th6d on behalf of thé board Df Truste8S'. MrJCDann Trustee Ichairl Datad..
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees of The Camelia Botnar Foundatign are responsible for preparing the Trustee8' Report and thè accounts in accordance wth applicable law and Unlted Kingdom Accountlng Standards Iunited Kingdom Gen8rallyA¢cepled Accounting Practice), Sncluding FInan81 RepowtiTrg Standard 102'The Financial Reporting standard lorthe UK and Republ of Ireland,. Charity law quIreS th8 trustees to pr8P8re &ctsunts for each financial year which giwo a tnje and fairview of the stata of affalrs of the charfty and of the ineoming resources and appliCa"on ol resources. Includlng the income 8nd expendthr8, of the chatity for that year. In preparing th8se ac¢ounts, Ihe trust99$ are required to.. - Sglect sUitae accounting pollties then apY them u)nslstenly' - obsaNo tha methods and priCle8 in the Charitl8s' SORP., makeludgements and 8Stlmatas that are rea80nable and prud8nL and -a8sessthe owanisation'$ abiltytc continue as a going concern alld pr8par¢ the ac¢ounts on the goIngnCern basis unl688 it Is inappropriat& ta presumè that Iha charity wlll conlnue in op8ratlon. The trustees ar8 re8ponsible for keoping adequat8 accounting records that dlsclos8 With rÈa50nable accuracy at any time the financial ptrsltlon of the chaJ1ty and enable thetn to ensure that the accounts comply with the haritiBs Act 2011. the Charitie$ (Accounts and Rep¢brt51 Regulations 2008 and th8 provisions of the trust d8ed. They arè also responsible for $afe9uarding th8 asset5 of the charfty and hence for taklng raasonable steps for th& prevention and dèt8dion of fraud and oth8r irregularities.
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE INDEPENDENT AUDITORS FOR THE YEAR ENDED 31 DECEMBER 2024 Oplnlon We have audited Ihe accounts of The Camella Botnar Foundation foi the yoar ended 31 December 2024 w1ch compriso th8 CDn5Dlidalecl Ststement of Financial Actimties, Consolidal8d Balance Sheet, Charity Balance Sh80t, ConsolidatÈrJ Ca5hflow Statgrn8nt and Trot98 to the flnancial statements. including a summary of $igNflcant accounting policies. The finanaal r&porbng frtWOrt Ihal ha5 been applied in their preparabon is applicable law and United lQngdorn Accounung Stand2rds, indudlng Financial Reporting Standard 102.. The Financial Reptirbng Standard applicae in the UK and Republic ol Ireland (United Kingdom Generally Accept Accounting Practice). In our opinion, the financial stat8ments.' glve a tru& End fair vlew of the state of the Group s and the parent Charivs affalrs as al 31 December 2024 and of thelr inwm8 and expenditure for th8 year then ended., have be8n prtsrty prepared in accordanc& wth Unlted ng(k)M GenBrally ApIed A¢coLwting Practico., have ba8n prOpad in accordance with the requlrèments of the CharFti8s Act 2011. This r8POrt Is solely to the Group's and Charity's Iru8te6s, ss a body. in 8c¢ordance wth section 151 of the Charities Act 2011 and the regulations made under seGtion 154 of that Act. Our audit work ha5 been undertak8n 80thatwe might slat& to the CharitW$ trustees those mattÈts we are required to state to them in an audilorfs port and for no other purpose. To thè fulle51 extent permltted ty law, we do llDt aceept or assume re5ponsiblllty to anyono other thw IhB Charity's trustees as a body, for our audll work, for thi$ report, or for the opinK)ns we have formed. Basls for oplnion We conducted our audit in ac¢ordanc8 wlEh International Standards on Auditing IUKI IISA8 IUKII and applicable law. Our responsiblllts'es under Ihose stsndard5 are further d8scribed in the Audltorfs responsiL)ilities for Ihe audit of IhÈ finand81 ststements sedion of our reporL We are Indendent of tha Group in accDrdanc6 wlth the elhlcal requirements that are rèlovant to our Eudit of the flnancial statewnonts in th8 UK, In¢lu(fing the FRC'S Ethi¢al Standard. and we have f1ft.11ed our other elhical rèsponsibiliti&s in xcordan¢e with these requir8ments. We b8Weve Ihat the audit evidenc& we hav& obtained is suffi¢ient and appropriate to provide a basis forour Olnion. Concluslons relating to golng concorn We have nothing to pOrt in respect ofthe following matters in relation to which the ISAS IVKI require us to report to you where.. the truste8s' use of the golng cone8m basis of accounting in Ihe preparation of the financiaf statements 1$ not appropriate., or the tmslees have not discIcA8ed in th8 ftnancLal statements any identified mat8rial uncertaintles that may cast Signifant doubt a1 the Group's or the CharlÉ¥s ability to tonlinue to adopt the going concarn basis of accounting for a pedod of at leasttwolve nKJnths from tha date when the financial statements are authorisad for issue. Other inlormation The twstegs are responslble forthe other Infomiation. Tho athgT Informauon comprfses thè infomation included In the truslee5' report. 0r opinion on th8 financial stst8ments does not cover the other infarmation and, 8x¢ept to th8 exI8nt otheIs8 expliciljy slalod in our report, we ¢Jo not expr8s$ any form of assuranc8 ¢on¢lu510Tr Ihereon. In ¢onnectlon with Dur 8udit of Ih8 finanual slatements, our r6spon8lbllity 1$ to rgad thé other inlorn)atlon and, in dDing 50, conslder whether the other informauon is materially Inconsistent wth the finan¢ial st8ternetht5 or our knedg2 obtained in tho aulkt or othèmisÈ app8ar$ to b8 mat8rially mi5Staled. If w8 identify su¢h matèrEal inconsi81en¢ies or app31ent materfal misstatements, we are required to det8rmlne whether there is a matarfal rnL*5tsl8Ment in the financial Sialerllents or a msterial mlsstatement of the other infom)aiion. 11, basgd on the wotk we havo performed, wo conclude that there f5 a material misSt8lemant ofthis other inlormabon. we are required to report thatfact. We have nothing to report In this règard.
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE INDEPENDENT AUDITORS FOR THE YEAR ENDED 31 DECEMBER 2024 Mattèrs on whlch we aro requlr•d to reptsrt by gxo•ption We have nolhlng to report in respect of the followlng matt8rs In rglation to which the Charities (Accounts 8nd Reportsl Reuulab'ons 2008 requir98 US to reportto you rf, in OUT cpinion= lh8 P8r&nt Charity Group have not kept adequate suffici8nt a¢counting record5 or retums adequate forour audit have not been received from branches not wsited by us., or tho Consolidat charity's accounts are not in agreement wth the accounlng re¢ords atKI retums,. or we hav8 Th)t rec8ived all the information explanations we require for our audit. R05ponsibllltlos of th• trustees As 8xplained More fulty In the twste8s' re$FX)nsibilili¢$ stat8ment, the trustees are responsible for thè prepar81ion of thé financial statements and for being satisfi@d that th8y oive a true and fairview. and for ¥uch internal Control as they determine Is necessary to enable the preparatlon of financial 5talemÈnts that are free froTn tnateri81 mSsstatement. whether du8 to fraud or error. In prBparing the financlal statements. tha trustees are r88ponsitre for assèssing the Group's and Charity's ability to conlinue as a golng concern. d15closin9. as appli(*tile. m81ters relat8d to going concèrn and uslng the going oncern basi$ of attountlng unl&sS the tru$tees eitherlntend to liquldate the Grouplcharity orto se owrabons, or hav8 no realistic alternative but lo do 50. Our rosponsibllltles forthe audlt of the financial statemthts Our objectives are to obtain reasonable assuranTr about whether the financial statewnents as a whol8 arè Iree from mat&rfal mi5$talorn&nt, whelherdue to fraud orerror, and to Issue an auditors reportthatlndudas ouroplnion. Reasonable assuranc8 Is a high l£vd of a$5uranco. but is not a guarantee that an audil conductsfl In accordance wilh ISAS IUKI will always delect a materi81 rnisstatement when it exist8. Mlsstalements can arise from fraud or grror and are considered rnalerial rf, Individualy or in the aggr8galB. they cothd reasonably be 8xpe¢ted to InffuerKe the econom1¢ decislons Df u58rs taken on the basls of these fjnancial stalgm8nls. A further description of our resJx>nslblllties lor the audit of the financial slalern6nts k% I(at8d on the Finanrial Repolting Counul's website at.. www.frc.o .uklaudilorsre$ reporL onsibilrtles. Tlws de8cription fom)5 partof our auditorfs Irregulartties, including fraud. are JnstsnS of non-¢omplianee laws and regulations. The extent to which our procedures are capable of d8tecbng irregularitss, Including fraud, Is detalled bg10w. Ext8nt to whlch the audlt wa8 ¢onsidered eapabla of dotsctlng irregularltles, Includlng Iraud The obje¢tN&8 of our audit. in respect to fraud, ar&-. to idenlfy and ass&ss the risks of malgrial mlsstaternent of the financial statements due to fraud,. to obtn surrici&nt appropriai8 audit evidence regarding the Hsse5sed rlsk5 oftnaleri81 ml$stst8ment due tofraud. through designing and impl8mentlng appropriate resp¢)nsos'. and lo respot appropriately to fraud or 5uspeGted fraud identifi6d dun9 fhe audit. However, the primary re5p)nsibility for the prevention and detection oflraud rests wilh both thos8 charged kvtth governance oftho group and its management, Our approach was as fdiows= We identlfied area5 of laws and r8gul$tions Ihat could reasoThabty be axpe¢ied to havo a malerfal gff8el on ths fin8ncYal statements Irom our ggneral soctor experiencè, and through discusslon wilh the tNst8e8 and othar management las required by auditing slalldard51, and dlsGussed with the trustees and 0th8r managernent thg policies and procedures regarding compliance with laws and regulatlon5 (see below),. WÈ identified the follovllng areas as those most likely to have such an effeot.. health atKI saf8ty,' General Data Protection Ragulalion IGDPRI," fraud, bribery and ¢orruplion.' and employmant law. Auditing standards litnit the required procedure$ to id8ntify non-compliance with the$0 laws aftd regulations to enqulry of the truste88 and other managetn&nt and inspection of regulatory and18gal corTrsponden¢e, if any.
THE CAMELIA BOTNAR FOUNDATION REPORT OF THE INDEPENDENT AUDITORS FOR THE YEAR ENDED 31 DECEMBER 2024 WO ionsidered th8 legal and regulatory frameworks dSractly appllcablè to the finaTr¢lal sta¢ernpnts reporting fraMort( IFRS 102 and Charib"8s Acl 20111 aTrd the relevant tax compliarKe rewlations in the UK., We ¢onsld6rod the nature of the group's ¢ptrrations, Ihg control envlrtsnment and financial performance. We communicated identified laws and regulaUons throughout our tearn and remained Alert to any indications of nOnmplianCe throughoul the audit., We consTder8d the proc8dure8 and Controls that the group has establisheEI to address risks Mjentified, or that olheMs8 prevent, deter and detect fraud.. 8nd how 6eniDr manag8tnent monitors Ihw procedures and controls. Bosed on thls understanding wo dèsigned our adit procEdures to identify non.complianc8 with such 18ws and regulations. Whe¥ethe risk was considerecl to bs hher. we performed audit pro¢eduresto addr88s each idÈntified fraud risk. These pro¢uTeS In¢ludeil." testing manual jourllals,. reviewing the finan81 ststement disG108ure5 and testing to sUprn9 documentation., p8rformlng analytical procedures,. and Ènqulring of manag8ment, and were designed to provide reasonable assurance that the financial statements were free from fraud or arror. Owing to the Inherant Ilmitations ol an audit, there Is an ungvoidable rlsk Ihat we may not have detect 8ome material mls$latetnents in th9 financial 8tatem&nts, tV8n though we hav9 properfy planned 8nd pgrfomi&Y our au<ll in accordance with auditing standards. For example, the fvrther rernoved non-complianco with low5 and regulations lirregulariliesl 15 from the ev8nls and transactions relected in Iha financial ststements, the less likèly the inher8nlly Ilmited procedwes requirerl byauditing standards would Identify it. The rfsk Is also gr8ater rardIng irregularttie5 Occurring due to Iraud rather Ih&n 8rror, as fraud involvgs intentional concealment. forgery, collusion, omlssion or misrepresenlation. We are not responsibl& for prevehtitwJ non-compliancè and cannot be expected to delect non-compllanGe with all laws and reglaon$. of our raport Thls report is made $018ty to tha sodty's rnernber5, as a body, in a¢¢ordan¢e wlth Ihg Charffjes Ad 2011. Our audit work has ba8n undertakon so that we might slatg to the group's m8rnb6rs thos& mattèrs we are required lo State to them in an auditorfs r8POrt and for no other purpose. To th8 fullèsl extent permitted by law, we do not acc&pt or assume responsibilityto anyone other than tho group and the group's m8rnbers as a body, for our audft work, for th15 port, or for the oplnlon$ we have formed. Mr Mark cummlns FCCA IS¢nltsr Statutory Audltorl for and on beha cl TC Group ststutory Audltor Dated.. Offica.. Steynlng, West Sussex io
THE CAMELIA BOTNAR FOUNDATION CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unr•strict8d fvnds Endowment fund8 Total 2024 TDlal 2023 rnaa ndowm nts from: Notps Don*ion¥ and legacl88 A¢tlvitlos for ralslng funds- 552 552 909 Charty shop Oth&r tradlng actlvl¢le$ 64.834 64A34 966.629 966.62 1,191,400 ¢harftable a¢Uvlti•s 41.942 41.2 42,29S Invesfments 2,873.936 85.387 2,959.323 2,588,218 Totsl Income and endowments 3,947.893 85.387 4.033.280 3,822,826 Ondttu on.. Raising fund8 965,021 985.021 1.027.583 CharitsUe a¢livities 2,626.206 73,500 2.699,706 2,555,fj63 Total exptndlture 3,591,227 73.500 3,664,727 3,583,226 Net incomè 356.666 11,887 368.553 239,600 Net galnslllosse51 on inve$trnents 15 1469.475 15,738 3,485.213 2,480,567 Net mOV8rnent In ltsnds 1826.141 27.625 3,853.766 2.720,167 Total tunds brought fotward 80.987.276 1106,329 83,093.605 80.373,438 Fund bakncas ¢arrfod forward 84,813.417 1133.954 80,947.371 83,093,605 Th8r8 are nD rècognised galns oT108585 olher than those r8ported on thè Statement of Financial A¢tNiti85. li
THE CAMELIA BOTNAR FOUNDATION CONSOLIDATED BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 NotBs Flxod a$s8ts Tangible assels Investments 14 5,586,183 78.637,668 84223.851 5,616,974 75,215.401 15 80.832,375 CtsTnt a88ets Stocks 17 128,006 224,475 1751,8TI 3,104,358 160.370 Debtors 18 232,219 2,249,447 2,e42,036 Cash at b&nkarn1 In hand Credltors= amount8 f8lllng du8 Withln (È year 19 1367.609) 1367.5TTI Net ¢urr•n¢ a$5et8 2.736.749 113.2291 86.947,371 2,274,459 113,2291 83.093,605 Provisions for liabilitios 25 Totsl 0$5Eis Funds Endowment funds UnrestrKt8d fund5 2,133.954 84813,417 86.947.371 2.106,329 80,987,276 83,093,605 Totsl funds 21 Charity No.. 1191611 Company No GE024084 Iregi$tsr8d extèrnalyl Th8 accounts were 8PPThgd by th8 board for Èsue on 0810912025 and signed behalf of boaid by. Mr J C Dann (Chairl Trustee 12
THE CAMELIA BOTNAR FOUNDATION CHARITY BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Mot•s Fixed assèts Tanglble assets Investrnenls 14 15 4878.240 79,209,071 84,087.311 4,895,113 75.777,585 80,672.698 Curr•nt ass6ts Debtors Cash at bank and in hand 18 227.463 2,616.S66 2,844,029 244,511 2,088,734 2.333.245 Credltor5- arnounts faln9 dug wlthin one year 1297.7201 1249.8871 Net ¢ur•nt assot8 2,546.309 2,083,358 Totsl assets 86.633,620 82,756,056 Fund$ Endowmgntyunds UnrBsthcted funds Total funds 21 2,133,954 84A99,666 86.633.620 2,106,329 80.649,727 82,756.056 Charity No.. If91611 Company No CE024084 Th8 a¢¢ountS W8r8 approv8d by tho board for Issue on 0810912025 and signgd on bèhalf of the board by. MrJ C Donn Ichalr) Trustee 13
THE CAMELIA BOTNAR FOUNDATION CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 Notes 2024 2023 Re¢anclliatlon of net In¢omellexpendlturo} to net cash Ilow from operatlttg adlvltlas Net incomellgxpendlturel for the reporting perfjod18s perthe statem8nt of Finanaal Actiyitiesl Adjustment for- DeprBcialion charggs (Galnshlosses on InvesttnenL8 Los51lprofitl on disposal of tangiblg fixed ass8ts Decrease in stoc*5 Ilncreaspydecrease In dBbtors InCaSe/ldecrexS8l in creditors DfvidBnds, interest and rents frorn Inv9sth18nts Nel cash us•d In operaling activltle$ 3,853,766 2,720.167 14 49,595 13.485,2131 64,200 12,480,567) 11,5021 63.304 16,7021 121.9931 12.588,2181 12.261,3111 15 17 18 19 32,364 7.744 32 12,959,323) {2,501.0351 Ca8h Ilows Irom Inve5tlng actlvltles.. DNldends, Intarost arwJ r8nts fr It5V8strnents Proceed$ from the sale of tangibfe fixed assats Purchase of t8nglble fixed a$$ets PrOceS frorn the salo of Investments Purchase d Investmonls 2,959,323 2,588.218 2,400 1263,1561 3.608,044 15,214.6881 14 15 15 118.8041 1.178.257 11,115,311) 3 003 465 Net ¢ash provided by Investing actlvltles 720,818 Change In ¢a¥h and cash oqulval&nts in the r•portlng perlod 502.430 1,540.493 Analpis of n81 ¢ash At1Jan Cash fflow Non¥Sh At 31 Doc 2024 changès 2024 Cash at bank and In hand 2,249,447 502.430 2,751,877 14
THE CAMELIA BOTNAR FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DEGEMBER 2024
1 Statutory infomiatlon
Th9 Gamelia Botnar Foundation is a charitable organisation. registereil in England and Wales. The Charity's
rBgistered number and regiStar8d office a(Jdrg8s ¢an be fLwJnd In the L89sl and Administrative InfOrmoOn stion
of the accounts.
2 Prjndpal accountlng polkl•s
2.1 Ba81$ of accountlng
The finandal slataments have baen prtsp8 ln accordance with Iho Financial Reportlng Stand&r
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 2 PrinGlpal accountlng pollcle$ l¢ontlnuèdl 2.6 Resources expended Liabilllies are recogni8ed as exnditr0 88 Soon as there is 1 1gg& or constructive obligatian CDmmittiNg the Charity to th81 expendilure. it is probable that setuement will be required and the amount of Ihe 0rgation can be measured rellably. All exp?nditure 15 accounted for on an accnjal basls. expenses Indud1ng sUPPOrt wsts and govemance costs ar8 alk>cated or apportloned to the applicabla èxpenditure headings. Gry45 payable io thlrd partie5 aTe within the charltable obj8Ctiv88. Where un¢ondition81 grants are ttfferpd. Ihi Is accrued as soon 85 the recipi8nt Is notlned of the gTant. as thls ge5 rise to a reasonable expectation that Ihe racipient will tye8ive th8 grants. Wh8rÈ grants are conditional rdating to performance thon thg grant is only arcrued when any unfuffilled condthons ar8 outsid8 of th8 control of the chadty. Tho (osts of ruising fun(L8 consists of trading subsidiary costs, inve5tm8nt managemenl costs and certain legal Costs of charltablo activiti95 Include grants rnad8, govemance costs and an apportionm8nt of support costs as shown in note 8. Redundancy payments are reGogni5ed as soon as th8re is an obllgalon committing th? charlty to Ihat expgndilur8, It is probablo th8t setuernent will be required and th& amount of the obligation ¢an be measuro reliabty. Further inlormatioTh regarding the expenditure inGurred in Ihe year Is Indudod in nole 11. 2.7 Allocatlon of support and gDv8man¢e eosts Govemance 1$ ¢omprfse all costs Involving the publlc acwuntability of th8 ¢harfty and It$ ¢ornpJiance with regulation and good practice. Govemance costs and support costs have beon allocated lully to expendllur8 on Charitable a¢thvlUe5. The allwalion of support and gov8rnance costs is analy5Ed in note 8. 2.8 Foxed assets and dapreclatlon Tangible fixcd assets are slated at cost IOT deemed costl less 8EGurnul8ted depreclation and accumulated impainn8nt losses. Depreclabon is provid8d on all langible fixed assets (expect for land which is not dèpresiatedl. al r8le5 calculaled to wrlte off the c05t, less esllmated residual value, or each Ssset on a 8y8ternaU¢ basis oveT its 8XP8Ct8(J useful lie as follows.. Freeknld buildings Plant rnachlnery Fixtures and fittings Motorvehicles D8pr8cialion is ¢onsidered based on cost less residual valu8 expecled. 15% slralght lino IO% Slraighl linè 25% straight lin8 The trustees, ¥A&w Is U)atthe residual value of the frèehold t>ulléings 1$ equal to orgreat8rthan the dèèmed CD5t, therefore no depreciatiotk of freehold bulldings has been provided. Z9 Investments InveslmÈnts are recognis8d initsally al cost Iwliich is norrnally Ihe transaclon exduding tran5acUon costs). SubsBqu8ntly, they aro measured atfalr v&lu8 Wlth net gn{lo88SI on Invéstments recognised In the St818ment of Financial Aclivilies If IhB shares are publidy trad8d or th6irfairvalue If they ¢an oth6rwise be measured reliably. Oth8r VestM9nts are mgasur8d at cost less Impaimient_ 16
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 2 Prin¢lpal a¢¢oullting poli¢le$ (contlnuadl 2.10 Investment propertles Inve$tment properbes are measured al falr value at each ieporbng date wlth changes In falr value r8cogni88d in net galns I Ilossesl on Investments in the Statement of Financlal Activitie5. 111 Sto¢ks Stocks, induding wort in progress and growng stock, are stsled at the lower of cost and esl"mated selling price le55 0)sts tD cornplele and sell. C05t includes direct purchases pric8d on ari averago cost basis and altrlbutsblg overheads incurr8d in bringing the produd5 to th£ir prÉsent lotAVon and condition. Cost is c&lculat8d uslng the firsl-in. first-out formula. A provision 15 tnade for damaged. obsolet& and slow-moving Stook wharo approprlate. 2.12 Debtor5 and credltOT5 reGelvabl• I payabl¢ wl¢hSn one year Debtors and cr8ditors wth no slated Interest rate, and re¢eivable or payable wlthln ce year, aTe recorded at transaction price. 2.13 Cash at bank anil in hand Cash at b8nk and in hand includes cash and short term hlghly liquid invaslmonts with a short rn8turity of thrpè rnonth8 or less from the date of acquisition or openlng of tho deposlt or similar 2CCOLJnt. 2.14 Fund accounting Unr8slricted incomè funds cornprtse thDS9 fund5 which thè truste8s ar8 fr8e to use for any purposès In furtherance of the charitablo objects. Endowtnent funds rBpresent those assets which must b8 held perrnanently by tho ¢hanty. principally tho OMC endowrnent fund which w&s èstablished to fund, from incom9. grants to quajifying charltie5 for the purposgs o* furthar 8dueation. Further delalls of ea¢h lund ere dlsclosed in note 21 to the financlal statetn¢nt5. 2.15 Ponsion5 Contributions in respect of the charitS defined contribution pension schème are charged to the Ststement of Finala1 Actbvilics for the year in whlch they are payable lo the s¢heme. Differences b8tWe8n contribulions payable and contribulians actually pald In the y8ar ar8 shown as eithèr a¢cruals or prepaymen18 atth8 ygar 6nd. 2.16 Employ8• b8nofits Wh8n empltsye8s hav8 rend8r8d servic8 to th8 charlty, short-tem employee benafits to which the employees are enlilled are recogni8gd at the undi$count8d amount expected to be paid in exchange for Ihatservlce. T8rmination payments ar& re¢ognlsed at the me of thè tsrmination agreernenL 2.17 Critical accountlng estimates and Judgements In Ihe application of the Group's accounting polici95, the Trustees arè rgquirgd lo make judgements, estimates and assurnptions about th8 carrwng amount ol asset5 and Ilabilitios ihat are not r8adily apparent from other sources. The esumates and assoclal8d assumptions ar8 based on hlstorlcal $xp8ri8nc8 and other factor8 that are ¢onsidered to be relevant. Actual r8su1t$ may diff8r frorn thBse estim3tss. The estirnates and undartying assumptions are reviewed on an ongoing basis. Revislons to aoGouTrting 05timates aro recognised in thè period in which th8 estimate 15 rev55. The Trustegs do not considar thatthere arè any crttlcal 8Stirnates or areas ofludgement that n9ed to b8 broughl to th£ attetiOn of thg r8adeTS of the financial slalements. 2.18 Taxatlon Thè charity's in¢ome fa115 within the exemplitsns under Part 11 of the Corporatitsn Tax Act 2010. The $ubsidiary company's taxable profjts ar8 donated lo the parent charity. 17
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 3 Subsldlary und8rtakln9 Total 2024 Totsl 2023 Tum(wer Cost Of sales Gross profrt AdnIstrative expanses OperaVng1108syprofit Int?rest recoivable Net110ssyprofit for the year Taxatlon ILossyprofitforth8 firhandal year 966.629 r185,0091 181.620 1266,2011 184,581} 1,191,400 1908,5111 282,889 1242,8491 40.040 184,5791 40.044 12,6231 37.421 184,5791 The charfty holds an investment In Camelia Botnar Llmitèd Icompany rrtjmber". 016463831 at the lower of cost and net aliSable value. This represents 100Yo of the issued share capital of 50,000 ordinary shares of 21 each in C3rnelia Bolnar Limilpd. The company Is r8glstered In England and conducls horticulture and tradllional craft activities whlch promote the trainSng and Èducatlon of the traineos. M activilles are consolldatsd on a line by line b88is in Ihe Ststem8nt of Financial A¢tiwties in¢0 unr8slrtcied funds. The $ubsldlary shares a ptincipal office add85 with the parent charity. Inve$thi•nt Incom• Group 2024 Charlty 2024 2023 2023 Unro$trict6d Dividends recelvable from quoted equittes Interesl Tecdvable from Flxed As56t Intet Stocks 1,634.297 1.487.734 1.634,297 1.487.734 500,753 418,122 500,753 418,122 2.135,050 1.905,856 2,135,050 1,905.856 Interest re¢èNable 86A95 68,022 86.493 68,018 Rents INable 652.391 526.439 697.591 561.639 2.873,936 2,500.317 2.919,134 2,555,513 Endovmi8nt fund InteTe5t rw£lvable 85,387 87,901 85.387 87,901 2,959,323 2,588.218 3.004,521 2.&ts.414 18
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 In¢ome from charltable a¢tivltJos 2024 2023 Cxher 41.942 42,299 41,942 42,299 l of thls inc4)Tne was attributable io unrestricted fvnds. 6 Pèrmanent endtswmént Investsd on a total rntum ba$1$ The Foundation e91ved a• endowrnenl of £2,100,000 in July 2000 which 55 ieferred to as the'OMC Endowment Fund". Under the tarms of the endowment, the income from the capital surn Is to b8 dlstributed In the forrn of gfdnts lo qualtfying beneficiames ol the Foundatian for the purposes of further education. The tsrm5 of Ihe endowrnenl perrnit the trustees to Inv&st permanenlly endowed lunds to maxirnisè toial relum and Iher8fore to apY an appropriate Poton of the unapplied total return to Incomè. The unapplled totsl retum r8malns invÈ51ed a5 part of th8 ranante[1dOwM$nt until that power Is exercised. When ex8rcJsed It allows the truste88 to apply an appropriate portion of Ihe unappiied total return lo Incamfj eaeh year. Endowment for Investsnent Unapplled Total Return Total Endpwment Op8nln9 value vf endowment (*ft componerit Df p6rmanenl Unapplled lotsl r8tum Totsl 2,100.000 2,100.000 6.329 6.329 2,100.OIX> 6,329 2.10fj.329 Movement rn year.. Inv&slmenl r8turn- diendS and Inte$1 Investment retum- r8ali$ed and unreali8ed gainslllos58sl TDtal 85,387 15,738 85.387 15,738 101.125 101,125 unappId total relum axpended 173.5(Kll 173,501Tr1 Net movemont In the reportln9 ppriod ¢losln9 value of pemi3nenl •ndowmonl Gift compon8Tht of p8manenl Unapplleil total rètum 27,625 27,625 2.100,000 2.100,000 33.954 33,954 rotal.. 2,100,0( 33.954 2,133,954 19
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 rotal expondnure Stall $ts Depyoclatlon Grants Paid Other Costs Total 2023 2024 Ral8lng Funds Commer¢lal trading and fundraising Inv8stfflent management fees 14,913 826.047 640,960 714.442 324,061 324,061 313,121 Totsl raising lunds 14.913 950,108 965,021 1,Q27.563 Charitable Activltigs Activities undertakèn direcuy SupportC05fs Total charitabla activlles 1,739,635 34,e82 73,SIKJ 557.302 2A05,119 2,306.051 294,587 294.587 249,612 1.739,635 34,682 73,500 851.889 2.699,706 2,555,663 Total Expondlture 1,739.635 49,595 73.500 1,801,997 3.664.727 3,583,226 Support Costs Ilncjudlng Govgrnance Cost51 Total 2024 Tot 2023 Accountancy Advèrtiskng Legal and professional fees Motor 8ypanses relecommunicalion costs Tralnee bursary Other support co$ls Gov8rnanc8 Inote 91 12,278 10.101 102.396 18,512 10.998 104,213 19,589 16.500 12.884 7,176 S).233 10,040 13.515 112.026 28.008 15.720 294,587 249,612 Governance costs 2024 2023 Audit f8e8 16,500 15,720 20
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Grants pyabl• Grants to In8titutlons 2024 2023 Edu¢ational grants Olhergranls 22.500 22,500 51.000 73,500 43,000 22,500 43,000 The charity providEd grants to g benellciaries durlTrJ the y8ar12023.. 111. 11 Staft ¢05ts 2024 2023 Wag&s 8nd salaries Social s8¢urily costs Other pension costs Stsff Iralnlng and welfaie costs PersonnÉl a1 reCruitnI costs 1,275,763 121,382 119,861 195,857 26,772 1,739,635 1,159,325 107,693 108,685 152,686 31,692 1,560,081 A¥•rage numbor of •mployeBS during tho ygar The averagé number ol employe8$ during Ihe yg8r was 47 (2023.. 451. Emolumenfs for omployeo$ excludlng penslon contributi £60,001- £70,000 £100,001- £110.000 £110,001 . £120,000 The highest Pid employ8as accrued ben&fils under pension sch8mes. The cost to the charity of th8 etnployee's contrfbution8 was £22,67412023'. £22.2541. Duriw the yearthe group incurfed redundancy c05t totalling £28,12712023.. £nill. 12 Trustee8' and key rnanagement Porsonnel remunerntlon and 6xpn588 No rÈrnuneratDn or expens8s, direcfy or indirectly, out of the ch2rty were pgid or walvsd for the year to any trustee or to 8ny person known to b6 connectecl with them. The charity considers its key management personnel to oompdsa the tru$tè?s and th8 Chief Ex8cub'v8 Officer. BeSow is an analysls ol the remun8ratlon of key n)anagement PBf8onn&l.. 2024 2023 Wag85 and safaries Benefits in klnd Social security ¢osts Other p&nslon costs 113,360 900 14,388 18.254 144.902 108.360 819 13,698 16,254 139,131 21
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Comparatlve Funds- Slatsm•nt of Flnan¢lal Actlvltl•$ f+y the Year End•d 31 Dè¢embor 2023 Unrestricted fund$ Endowm&rtt funds Total 2023 Income and •ndowments from.. Donation8 and legaci95 Other tradSng activllles Charitabl8 a¢lvltres 909 909 1,191.4QO 1,191.400 42,299 42,299 lnveslrnts 2.SOO.317 87.901 2A88,218 Totsl kncorne and tndfwm9nts 3.734.925 87.901 3,822.826
ndtture
Ralslng fund8 1,027.563 1,027,563 Charitabl8 a¢Uviti 2.512.663 43,000 2.554663 Total expenditure Net In¢omell•xpendituro1 Net gainslllo8s&sI on investments 3.54D.226 43,000 3,583.228 194.fj99 44,901 239,600 23.21 27.366 2.480,567 Net Incorn? movement In funds Tolal lunds brought forward at 1 January 2023 2,647,900 72367 2,720.167 78,339.376 2.034.062 80.373,438 Fund balan¢•8 at 31 06c8mtrM2023 80,987.276 2.1D6.329 83,093.605 22
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Tangible fflxed ass•i$ Fr•8hold land and buildlngs Plant and ma¢hin•ry Flxtures and Motorv•hi¢l&s fftiings chartrty T*>tal Cost At baginnlNJ of year Addib"ons Disposals At end of year 4.803,101 306,591 15,329 187,3131 254,607 278,739 1,230 111,8101 268.159 167,798 1,250 115,2031 153,845 5,556,22g 17,809 194,3261 1479,712 4803,101 Depr6ciatlon At beginning of year Provlded during the year On disposals At end ot year 288.662 5.782 167,3131 227,131 239,018 12.323 111,8101 239.531 133.436 16.5TT 115.2031 134,810 661,116 34,682 194.3261 601.472 Net Book Value At 31 December 2024 4,803.101 4,803,101 27A76 28,628 19,035 4,878.240 At 31 Decefflber 2023 17.929 39.721 34,382 4,895,113 Freehold land and buildings. having beèn rècogni5ed at deemed c05ton transitK)n lo SORP 2015 IFRS 1021 on 1 January 2019 have a not book valua of £4,803,101 12023.. £4.803,1011. The h15torical c05t Df the fraehold land d buildinus is £3.57l,522l2l3.. £3.571.5221 23
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECElklBER 2024 14 TanglbIe fftxod assats l¢onttnuodl Group Froohold land and bull(lings Plant and ma¢hinary Ftxlure$ and fittlngs Motor vehlcles Total C08f At beginning of year Addilk)ns Dlsposals At end of year 5,463,101 639.578 16,324 167,3131 588.589 278.739 1,230 111,8101 268.159 179,048 1,250 115,2031 165,095 6,560,466 18,804 194,3261 6.484,944 5.483.101 Depr8clation At b8ginnlng of year Pmvided during the ygar On dlsp05als At end ol yoar 559,788 20,695 167,3131 513,170 239,018 12,323 111,8101 239,531 144.686 16,577 115,2031 146,060 943,492 49,595 194,3261 898.701 Net Book Valu Al 31 December 2024 5,463.101 75.419 28,628 19,035 5,586.1B3 Al 31 December 2023 5,463,101 79,789 Sf 7,757 34,362 5,816,974 24
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Inv•8tm¢ntS Group Charfty 2024 2024 2023 2Q23 Al beginning of the year Additlon5 Transferred from tsngible assals Disposals al opBning fair value Unrealisod Investmgnt gains At thè end otr 75,215.401 1.115.311 70,168.632 5,214,688 959,559 13.588,5221 2.461,044 75,2t5.401 75.777.585 1,115.311 70,751,601 5,214.688 959.559 {3,588,5221 2,440,259 75.777,585 11,177.080 3A84036 78,637.668 {1,177,0801 3.493,255 79.209.Q71 Quoted Investmnts UK equities and unit trusts UKfixed interest Overseas inv951ments 55.722.467 5,140.369 3.515.537 64.378,373 807.000 51.051,946 6,632,205 3,453,879 61.138,030 S5.722.467 5,140,369 1515.537 64,378,373 807,000 50.000 13.D73,698 79.209,071 51,051,946 6,832,205 3,453,879 61,138,030 807,0(K> 50,000 13.782,555 75.777,585 Unquotod UK equltios Investment In subsldiary undorlaking Inv8stm•nt propgrt105 807,000 13,452.295 78,637.668 13,270,371 75,215,401 Note 3 provides fvrther infom)alion regarthng the investrnt In Cam8lia Botnar Limited. Inve5bnent gains Shown on tho Statgment i)f Financial ActividÈs of £3,485,213 12023.. 2,480,567) include unrealÈsed gain5 on investments of £3,484,03612023.. £2.461,0441 and r88li$ed gains on investments of £1,17712023.. £19,523). 10 Investm•nt prortieS Grnup Chartty Cost orvaluation At b8glnning of Ihg year Revaluath) 13,270.371 181,924 13.782,555 191,143 At ènd of year 13A51295 13,973.698 Falr value At 31 DecErnbor 2024 3A52.295 13.973.698 A(31 Decembor 2D23 13.270,371 13,782.555 25
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Invg$lment propertles l¢ontlnuedl Th8 Investment propcites arg situated In the UK and wBre valu8d on the basL8 of fair Val by the trustees at 31 DeCeMr 2024. The trustees, vUatIonS are based on previous Èxtgrnal forrnal valuations of properties, the cost of pur¢h358 (whore a ptoperty has not beenfonnaltyvaluedl, movements in appropriate market indiand Whe truste8S are awareofa malerial change in valu6. In the charitythè origlnal c05tof the revalued property was £11,191.93912D23". £11,191,939). In the group thg original cost of ths reved prop8tywas £9.404,74412023.. £9,404,744). 17 Stock Group Charlty 2024 2023 2024 2023 Sto¢k 128,006 160.370 18 Debtors Group Charlty 2024 2023 2024 2023 Trade éebtows Amount du9 from subsldiary undertaklng Oth£[ debtors Prepaytnent5 A¢cN8d In¢om8 15.803 15,065 fj.513 24,138 81.327 69,019 46,466 4,827 33.230 62.737 90,163 53,554 244,511 81.327 80.879 46,466 224N75 62,737 11)0,863 53.554 232,219 227,463 19 Cr8dttors.' amount5 falling due wlthin onè year Group 2024 Chartty 2024 2023 2023 Trad8 crodltors Othertaxes and sacial security costs Corporation tsx payabla Other crgdiior5 Accruals and deferred incomè 71,470 69,615 112,752 74,272 2.623 62,762 115,168 367,577 41.626 45,401 54,868 42,493 87,978 138,S46 367.609 87,978 122,715 62.762 89,764 249,887 297.720 26
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 D•f•rred Inrorne Charlty & Group 2024 2023 At 1 January 2024 Additions the year Amounts roleased to incL)m8 At 31 Decembar 2024 51,385 51.085 151.3851 51,085 50,445 51,385 150.4451 51,385 21 Fund recon¢lllatlon At 1 January 2024 Nét Income Galns At 31 D•cember 2024 fjmup OMC Endohlment fvnd Unrestricted accumulated fund 2,106,329 80,987,276 80.093,fj05 11,887 356,666 388.S53 15,738 3.469,475 3,485,213 2,133.954 84.813,417 86,947,371 At 1 January 2024 Nat Incom? Gakns At 31 D8¢tmhr 2024 Charfty OMC Endowment fund Unrestricted accumula18d fund 2,106,329 80,649,727 82,756,056 11,887 371,245 383,132 15,738 3,478,694 3.494,432 2,133,954 84499,686 86.633,620 22 Anal1$ of as$ets bgtween fund$ OMC Unrastrlcte acrurnulated fvnd Ttstal 2024 èndowment fund Fund balance$ fr•rthe group as 31 Dpcember 2024 were represented by.. Tangible fixed a59ets Investmants Cutrent assets S,586,183 76.710.855 2,897,217 s.6,183 78.637,668 3.104,358 1367,0091 113.2291 86.947,371 1,926,813 207,141 Current liabilities 1367,6091 113,2291 84,813.417 Provisions for liabililès Total net assets 2.133,954 The OMC endowrnentfund is a permanentfund whi¢h was established in 2000 fora £2,100,QI)O elldowmentwhiGh was to fijnd, Irom Incorne, grants to qualrfyirvJ chariti88 lor the purpose of furth8r educaJon (see note 61. 27
THE CAMELIA BOTNAR FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 Anaty¥ls of a$sots belwèen fitnd8 l¢ontlnuÉdl OM¢ Unrostrlctgd a¢¢umulatod fund Totsl 2023 endtswment fund Fund balanc•s for tho group 88 at 31 De¢ember 2023 werè rgpreBonted by: Tangible fixed assets Investments Current assets Curront liabilives 5.616,974 73,304.326 5.016.974 75,215,401 2,642,036 1367,577} {13,2291 83,093.6115 1.911.075 195.254 2,446,782 1367.5771 (13,2291 8Ql.987,276 Totsl not as$ets 2.106,329 23 Penslon corrynitm•nt8 The charty operatas a dèfined Contribution penslon scheme. The pen51on ¢0st charge represents contbutIOnS payablè by the charity and 8mount8d to £119.86112023.. £108,fj851. Contribubons lolaling £Nil12023. £Nill w8r8 outstanding at the yearend. 24 R8latsd partle$ and control During the year no tru$tee8 were reimbursed èxpenses12023: no trustees were reirnbursed expen5881. During the year Camelia Botnar Foundation recharged costs In relation to rent and staff costs lo Camella Bolnar Limite totallrng £410,25012023= £439,5411. Thera were no olherièlated party transaction$ during theye8rl2023.' nonel. In thè op1n1 of the trust8e$ the Foundatlon 15 c¢trOad by t1. 25 Provl$lons PrDvlsh)n mov8monts in the year ar8 as follows.. Group 2024 charity 2024 2023 2023 Provislons brought forward Chargè against provision in year Provisions ¢arrled forward 13,229 13,229 13229 13.229 The provlsl¢n above r8lale$ 8nUrely to deferr8d taxation. 28