REGISTERED CHARITY NUMBER: 1208296 Audlted Grnup FlnADelAI Ststsm•nts ror the Perlod 17 Aprll 21124 to 31 JaMw4ry 21)25 for The Mkh*•l #nd Barb8r8 Bell Found4ilon Brewen Cb8rtered Ae¢o¥lltsvts 3 Birtley Courtyard Blrtley Rd Br&rniey GUS IILA
Tbe Mltbthtl BLra Bell FouMd4tion CoDtents of the Flxallcial Stttr#tnts tortbt Period 17 April 2•24 to31 JaNuary 2025 P8g¢ Contents Report of th¢ Trujteas 2 to 4 RepDrt Df the Ind¢pendeDt Alldlto S¢alem•Dt of FlnADelAI Aetmrfes Ballnee Sh¢¢t 9 to 10 Ch Fltsw Statement Nottx to th• Cash Flow Stwt¢rnwt 12 Not¢$ to the Flnmnclal St4tem•its 13 to 16 D•talkd St•teJn¢nt of Fth•nelil A¢tfvltle8 17 P8ge I
The Michael and Barb•ra Btll Fo¥nd¢iott Rtptsrt of the Trusèees for the Pernd 17 April 2024 to 31 Jihuiry Z025 The tn]5tees present their report with the group financial staternents of the charity for the period 17 April 2024 to 31 January 2025. The trtle¢S have adopted the provisions of A¢countin8 and Reporting by CharitLes= Statement of Recomm¢nded Practice app1]ble to charities preparing their accounts in accordance wilh th¢ FinanGia] ReportitL8 Stsndard applicable in th¢ UK and Republi¢ of Irelartd {FRS 1021 {¢ffe¢tive l January 20191. OWEcfivES AND ACTIVITIES Objeetlves And glm5 The Charity was set up under the Icrms of the will of Grace Barbara Bell. widow of Michoel John Donald Bell. li was the wish of both of th¢rn to forni a chhrity to help fund local projects who meet the charity's objectives. Th¢ Chari(able Incorporated Organisation was fomi¢d in May 2024 and asset5 from the estate of Barbara Bell were transferred to th¢ charity whi¢h included the wholly owned subsidiary M & B Ltatherhead Holdings. Th¢ Charity's objectives defin¢d in the goYernin8 document OD the Charity Commission are: (l) For the benefit of the public, the advancement of Amateur 5POrt in the Mole Valley, Reigate and Donstead local uthority areos, by SUPFOrtin8 $PQrts club& sportin8 ownisations eduealional institutes and individuals in providing nding for equipment, facililies and support thai will encoura8¢ Ihe developmeni of amateur sport for people of all 8e5. (2) To prevenl and rtlieve PTOP¢rty In the Mole Vall¢y, Rei8ate and Ban$tead local authority ar¢Js by providinB 8rAnts to enable membcT5 of the public to pArticipalc in hulthy rtcreation81 aetiviiies that they could Trot otherwise afford. (3) To relieve financial h8rdship. eith¢r generally or irtilividually in the Mole Valley, Rei8al¢ and Ban$iead 10¢g1 authority areas by making grants of money or PToviding or paying for goods, services or flI11]es, whi¢h they eould not otherwise afford through lack of Me8. (4) To promoie the relicf of thosc in need by Te850n of disability. si¢knes8 or pry)r h¢th amongst people living in the Mole Valley, Reigal¢ and Banstead local authority 4re4 by makin8 grants of money and PTowding or pIng for ilems, services or facililies for the public bettefit. Slgnlflcint Ae(Ivllles The Charity b&d noi complel¢d all the administration infrastructure in the perityj to 31 January 2025. The trustees committed to cr>mplete ihis as efficierttly 08 possible before proceeding to the main objectives of the thgrity. Operational activitl¢s gre expe¢t¢d to commen¢e during 2025126. FlrtanelAI po8ltloD During the period, th¢ ¢harity received legacy income of £7,864.423 from The Estate of Barbara Bell. The Charity Incurred a surplus for the period of £4.340293. At the bartee sheet date fimds amounted to £8,0(M).329. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng dotument The ¢harity is controlled by Its Constitution and ¢onstliute a Charitable Incorporated OT88nisation ICIOJ as defind by ¢h¢ ChaTitie9 Act 20114rtd the Charitable Incorporated Oiganisiort$ IGener&ll Regulations 2012. Rlsk m8nAgemeDt The trustees have a duty tc identify and reyiew the risks to which ihe charity is exposed and io ensure oppropriate controls are in plac¢ to provid¢ T¢a50Thable assurance against fraud and em)r. REFERENCE AND ADMINISTRATIVE DETA113 Regl$tered Charlty number 1208296 Webslte Addrejj mbb¢llfoundation.or8.uk Pa8e 2
The Mich•el and BaTb•ra Bdl Follndatlo• Report ofth¢ Tt¢S for the Perlod 17 Aprll 2024 to31 Jttuary 2025 Registered offlee 156 South Street Dorking Surrry RH4 2HF Trustees C H Pfister {appoint¢d 16.5.24) Mrs A R Burns {appointed 16.5.24) Dr T F Guilder (appointed 16.5.24) Ms J N Thoma% lapw>intcd 16.5.24) Audltors Brewers Chortered A¢countAftts 3 Birtley Courty4rd Birtley Road Bramlty GU5 OLA STATEMENT OF TRUSTEES, RESPONSIBILITIES Th¢ tNsttts are responsible for preping the Report of the Trustees 4nd the finAThcial ststements in aCWTdanc¢ with pplicable law and Unitsd Kingdom Aonting Standards IUnid Kit)gdom Qenerally Aec¢pt¢d Ac¢ountirh8 Practice). Charity law requires the tntttS to prepare frnancial stht¢ments for each financiai year. Under law. th¢ trustees have elected to prepare the fJnan¢iat statements in accordanc¢ with Unit¢d Kingdom Generally Accepted AOunting Pwti¢e {United Kingdom Accounting Standards and applicable lawl. Und¢r ¢ompAny law the tru.8lees mu$t not approve the financlal 5t4¢emenis unl¢s$ they are soti5fled that thty 8iv¢ a tTue attd fair view of ihe 51ale of arrairs of the chariiable ¢ompAny and of the incoming resourcts And ¥ppli¢aiion of resources, Including the income and expendilure. of the ¢hariiable compny for that period. In prep8rln8 those financiAI s¢atem¢nts, th¢ tTUStees are required to select auitobl¢ accountin8 p)licies and then apply them coftsigtently; observe the methods and principles in the Charities SORP. make jud8ements and estimates that &re rvsonabl¢ and prudent. gtste whcth¢r Applieable a¢wunting stand8rds have been follow¢d. subject to Any material departUT¢S disclosed explained in tht fin2ncial Statements,. prepare the fin&nciwl stsl¢ment5 on the Boin8 con¢¢m bas1$ un1¢58 li Is inappropriate io pre5um¢ that the ch4ritable mpany will eontinu¢ in business. The trustees have tsken due rewd ¢0 the Charity Commission's guidance ¢)n public benefit. The trustees are spOnsIble for keeping proper accounting rerdS whieh disclose with reasonable accuracy at any time the rinancial position of the charitRble company. They are also rcsponsible for safe8uarding the &ssets of the charitable company and h¢n¢e for taking Teasonablt steps forthe pr¢vention and detecti¢Jn of fraud and other irregularities. In so far &s the truster5 arc aware.. th¢r¢ is no relevant audit inforn]&tioTh of which the CIO'5 auditors are utjaware; and the trustees h8v¢ thken all steps that they ought to have tsken to make themselve$ aware of llny relevani audit infomation and to ¢stablish that the auditors are aware of that infomjation. Page 3
The BirbAra Btu FouodatloD R¢port of thtTryiteeJ for tbe Peritsd 17 April 2024 to31 JAnry 2025 AUDITORS The auditors. BTrw¢rs CThHrtered Accounlunl4 will k propos&l for [¢•&ptntrllellt d the fortlLcomin8 ADnual General Meeting. Approved by order of the bDard of trust¢¢s on.. and signed on its beha]f by.. C Fl pfLSter
Report of the Indeptndent Auditors to the Tru$tee5 of Thè Ml¢h*el and Barbara Bell Found4tion Oplnlon We have audited the fin9cl $tat¢Tnents of Th¢ Michael aJ)d Barbara Bcll Foundation (the'charity'l and its Subsidiary (the 'group'l for the period 17 April 2024 to 31 January 2025 which tompTiSC the Statement of Fitsanciai Aciiviu¢s, th¢ Balan¢¢ Sh¢eL the C8sh Flow St8iem¢nt and noie% to the finath¢ial statements, including a $wnm8ry of significant accountitig policies. The financial rewning framework th has been applted in thEir preparation i$ applicable l&w and United Kingdom A¢¢ounting Standards (United Kingdom GeneTolly AePted AeeouThting Praciic¢). In our opinion thr financial st&tements' Riv¢ a ttuc and fair viw of the statc of the ch2rity'5 and of th¢ group's offairs &4 ai 31 January 2025 and of its incoming Te5X)urces and applicatton of resources, for thc period 17 April 2024 to 31 2025.. have bcen properly prepared in accordance with United Kingdom Generally A¢c¢ptcd Accounting Practice,. and havc been preparcd in a¢COTdllnce wilh th¢ requirements of the arItiCSAct 2011. Buil for oplnlon We wnductcd our &udi( in Accordance wTih lnlem2ti0n Stsndards orh Audiiing (UK) IISAS {UKII appli¢able law. OUT responsibiliues under thos¢ 51and2rds Brt further d¢$rribed in tht Auditors, responsibilitie5 for rhe audit of the rin¥Lncial siaiemenis section of OUT report. We Rre independent of the group and Ihe ch&rity in accora#nce with the elhi¢al requircmcnis ihal are rclcvant 10 OUT audit of the financi&l Statements in thc UK. in¢ludittg the FRC'S Ethical Standard. and we have fuifillcd our other cthical rc5ponsibiliii¢s in accord8n¢c with these requirements. We bclieve thai th¢ iudit evidrtsc¢ we have obtainrd is suJfi¢ient and appropriatc to providc a basis for otsr opinion. Conclusloni r¢14tln8 to golng eottcern In auditing thc financial slaiements, we have eoncluded Ih&t the mist¢es' use of ilK going conc¢rn basis ofaccountin8 in lh¢ preparAiiOn of the fJnanci815tatemenis Trs &ppropriate. Bed otl Ihe work wr havc perfonned, w¢ have not identified at)y rnatcri&l Jn¢ertainiies r¢laiing to events orcondilions ththi, individually or collcclively, MAY Ct 5i8nifirani doubi on the group OT the charity's abilily to coniinue a5 & 80ing conccrn for 8 period of at leui Iwelvc months from when the financi81 stalcrncnts arc auihori5ed for issue. Our responsibilitie5 and the responsibilities of the tnJ51ees wilh r¢specl to ¥oing ¢onccm are described in the releVt seciions of thL5 report. Other inforrnitlon Thc Iruslces are rcsponsibl¢ for the other irtfomjalion. The other inforni&tion compNse$ the infonnaiion Includcd in the Annual R¢porL other than the financial staiemcnts OUT Report of the Independent Auditors th¢reon. Our opinion on the fin8nei&l slatemenl$ does nut ¢OVCT the other infonn&tion and. except io thc cxlent oihtTWi5e ¢xplici¢ly 5tatcd in our r¢port. we do not express 8ny fonn of $urnn£C eon¢luslotL thcreon. In conrteciion wilh our audtt ofih¢ finlln¢ial Slalcrncnl$. our rc5ponsibilily is lo re8d th¢ oihcr Inforniaiion And. in doin so, £onsid¢r whether lh¢ oih¢r Inforniaiion is materially inconsi$l¢ni with ihe financiHI slaiements or our knowl¢dge obi&incd in lh¢ ludii or otherwisc app¢Èr5 to be mai¢rially inissthi¢d. Ir we id¢niify such material inconsi51cnci¢s OT appAr¢ni maicrial rnissiaiemertls we a rcquircd 10 delcrniine wh¢ther this 8ives rise to a rnat¢riel tni551atcment in thc finant131 %lalcmenis theTllSelvcs. Il. bwd on ihe work we h&ve performed, wc conclud¢ that there is a matcriaj misthtrmcnt of this other infom)ation, wc llre required to report that fact. We h&ve nothing io report in this regard. Marters oh which we Are required to rtport by exeeption We have nothing to report in respccl of th¢ following rnallcrs wh¢re the Charitie5 (Aeeounts ond Reports) Re8ul&tions 2008 require5 us lo report 10 you if. in our opinion., the information 8iwEn in the Report of th¢ Tn]sEtt5 i% itJ¢On5jsient in matcrial r¢sp¢ct with th¢ financial statemcnts,. or sutyicieni accounting re¢ords have not bEcn kept,. or the fin8n¢ial 51atemenls 8re not in agr¢ernent with the accounttng rttords and Tthms; or we have not received all th¢ infonation and cxplanatlOll5 we requiie for our audii. Pa8¢ 5
Report Of the IndepeDdent Auditors to the Trv$t¢e5 of The Mlch•¢l Brbra Bell Foundthtlo R¢$ponsibllltI¢s of trustees As explaknEd more fully in th¢ Stst¢ment of Trustees, Responsibilities. the trus¢5 are responsible for the pr¢paration of the financial slat¢mertts which give a true and fair vi¢w. and for such internal control Is the trustees det¢rmine 15 Ii¢c¢ssary to erhable the prepaTation of financial statements that are free from material misstotement, whether due to fraud or ¢kTOr. In prekwing the flnancial statements the trustees are responsible for ass1n the 8T¢)up and the charity's abiltty to ¢oniinue as a goin8 concen4 disclosing, &$ #pplieable. matters relat¢d to going ¢oncem and using the going con¢¢rn b&81s of a¢couThling unlcs5 the trustees eith¢r int¢nd to liquidate the group or the charity or to Cease operations. or have realistic alternative but to do so. Our respon51blll¢l¢$ for the Audit of tbe IlnAllti&l st8tem¢nts We have been appointed as audiiots under Section 144 of Ihe Charities Act 2011 and rCrt in Hcwrd8nce with the Aci and relevant regulations made or havin8 effect th¢reunder. Our objectives are obtain reasonable assur8nc¢ about whether the financial slatemenis &4 a whole are free from m#ttri81 mi35tatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opiriion. Retsonable assurance is a high level of assuran¢e, but is not a guarantee ihai an audit conducted in accordance with ISAS (UK) will always detect a material mi55tatemeni when it exists. Misstatements can arks¢ from fraud or error gnd are considered mAt¢ri&l if, individually or in the agBre8ate, they could reasonably be exp¢cted to iDfluertce the economic d1810n5 of useis taken on the basis of ¢h¢5e financial statements. The extent to which our procedures are Capable of d¢t¢ctin8 irregularities, IncludiD8 fraud is detailed below: IrreBularili¢$, includin8 fraud. are insianc¢s of nOn-Mpli¥ct with laws athd Kguljtions. We d¢si8n procedures in lin¢ with our responsibililies, outlin¢d above, to detect material misstatements in reSpt of irregularities, including fraud. I'hese mAtters wer¢ discussed amongst the ¢nga8emeni team at the plannin8 s¢oge and ihe le#m remuined alert to non.compli8n¢e thTOU8hout ihe audit. Audit procedures und¢rtaken In re$pons¢ to the potential ri$k$ relating to irregul111¢5 Iwhieh include fraud and non-eomplianv with laws artd regul81ionsl Comprised.. enquiri¢s of m&nag¢men( and Trustees as to whether Ihe entity omplies with 5yeh laws regulalions., ertquiri¢s wilh the same coficeming actuaj or potenliil litigaliort or ¢laim5- testing the 4ppropria¢¢ness of journal entri¢s and the proranCe of analyticthl review io id¢nlkfy unexp¢eted mov¢mcnts in awourtt balan¢ex which may b¢ indi¢*ive of fraud. We ideniifi¢d thoso laws and re8ulation$ consid¢r¢d to hav¢ a material effKt on Ihe fiD8nci&l statement5. No it)st8nees of material Don-compliance were identifl. Howevw. the likelihood of det¢c¢irt$ irregularities. includinB fraud, is limited by the inherent difficulty in deieciing irr¢gulariii¢5. the effectiveness of the entity's Controls, aDd the nalure, timin8 and extent of th¢ audii prdureS peYfoTmed. Irregularities Ihal result from fraud might be inherenrly more difficult to detect Ihaft irrcBularitics ihat result from ¢rror. As cxplained above, there is an unovoidable rksk that material misstsiements may not be detected, even thoygh the audii h¥5 beert plann¢d end performed in rd¢¢ with ISAS (UK). A fither description of our responsibilitie5 for the audit of th¢ flnancial ststemcnts is located on the Financial Reporting Council's web5lte at www.frc.org.uklguditorsr¢sponitbilities. Thi5 de5criplioD forms part of our Report of th¢ Independent Auditors. Page 6
Report of tke IndepeDde•t Audltor5 to Ihe Tru#tees of The Mkh•el and B8rbgr4 Bell Foundatloll U* ofo•r rert This rrport 15 made solely to the Charity's trustee& as a body, itt 4rdance with Pjrt 4 of the Charities (Accounts and Rerts) R¢gulations 2008. Our audit work has bcen undertaken so that we might slate to the ¢harity'5 trustees those mattcr5 we 8Te required to state to thern in an auditors, report and for no other purpose. To th¢ fullest extent permitted by law. we do no audit work or this l or 8ssume re5pon$ibility to anyone oth¢r than the charity and the charity's trustees &$ a body. for our port, or for the opinions we hav¢ formed. rsch Is (Statutory Auditor5) Brarnl¢y Surr¢y GU5 OLA Page 7
The Mi¢batl and Barknr• Bell FouftdtioD St¢mtDt of FiD•Delal Actlvlti for the Puiod 17 Aprll 2024 tts31 J#nu•ry 2025 UnY¢stiia Notes INCOME AND EI¥DOWMENTS FROM DonAtiODS and le81¢$ 7.864.423 lrtvestment income 155.842 G&in on sale of tangible fixed Sets Tot81 8 159.240 EXPENDITURE ON RNi$lng funds 44.850 Other TotAI iYET INCOME 8.081,857 Impalmient of Investh)ent on ¢onsolidatlon (4,382.g)O) Oain on r¢valuAtion of &8sets 845.906 Tox rxov¢rable 6.906 Deferr>J tsx The not¢s forni part of these fiftrnCi 5tat*nents Pag¢ 8
The Mlfhel aDd Brb•rn Bdl FouDdath) Blan¢t Sh¢t 31 2025 U[triCted Notes FIXED ASSE13 Inve$tments Inve5tsn¢nt property 5 562 000 CURRENT ASSETS Debtors Cash 4t bank 491,936 2 185 889 2.677,825 CREDITORS Amounts fallin8 due within one ye 10 28,020 NET CURRENT ASSETS 2 649.805 TOTAL ASSETS LESS CURRENT LIABILITIES 8.211,805 Deferred tax NET ASSETS 8 000 329 FUNDS Urtre5tricted fijnds Prc *quisition resery 4,340,293 3 660,036 TOTAL FUNDS The ttustees Bthiowl¢dg¢ their respon8iblliti¢s for 141 (bl Ensuring the CIO keeps accounting records that comply with SORP FRS 102 Group Accounts Forniat and The ChgJitie5 A¢t 2011 the Charitable Incorporate Organisffttions IGetteral} Regulations 2012. These fjnancial stslem¢nts have been gudited und¢rthe requirements of the Charitiu Art 2011. IIJB tte5 fol pth of these finHnciai 8t8tem¢nts P•8e 9
The Mlcbvl Brbara Bdl FouAdAIw BAlantt Sbeet- con¢ioiitd 31 Jlliry 21125 IZ. 11. 2•15 The financial statements w¢r¢ approved by the B¢wd of Tnthes and auth0ri5¢d for issue on .................. and were $18rted on its behalf by.. ARB rusi¢¢ CHP Ist¢r- Tn¢¢ Th¢ notrs forni part of these 6n8D¢illl 5t&ements P4e 10
Th¢ Mi¢h•el BArbM B¢ll Fouidltlon C5h Flow Ststtment fortbt Period 17 April 2024 to31 Jllyary 2025 Notes Cash flows from opentlng •¢tlvltl Cash generated from erationS paid 7,467,019 Net cash provided by operating activities ' 7.432 225 Csb flows frnm Inv¢8tlllg 4clivltles Sale oftan8ible red assets Sale ofinvestment property Assets transfetted from legacy Intenst Te1ved 138,975 1.725,0(Xl {7.287,(K)O) 3.372 N¢t cash (used Inllprovided by inve$tin8 activities 5419.653 Ch•nge In tah amd cash equlv•knts In the reportllll p¢rSod C8$h nd t8sh equlv#leDts at the beKlnTrlng of the r¢portln8 perlod 2.012.372 173.317 Cash and cash q1VIll at th¢ end of the 2 reportlDi porlod 2.185,889 Notes I Caghflows optrAtlttg aetlvltles Net incom¢ for th¢ reporting period 8,081.857 Adjts$thients for Gain on revaluation and fixcd 3¢1 PTofi¢ on disposN] of fixed &ss¢t Interest re¢eived (138,975) 7.939,510 DSel(lnerea5c} in trade ad other debtors Interest in payibles (479.541) Cash 8¢n¢rated from operations Th¢ notes fotm partof these fmaDeiai $ts¢cments P&ge 11
TbeMl¢hael B•rb•r• Btll Found41iott NoteB to Cub FI Ststtm¢nt forthePerfod l7 Apdi 2024 ts 31 JaDU•ry 2025 Note 2 Anal slj As al 17.01.2024 ClOW As4131.01.2025 Net casb Thet fonn partofthege siatemtJ15 Pk8e 12
Th¢ Michael httd Ba11 Bell FoknndatiDll Nott$ tg the Flna#ti•l Ststem¢nts for the Period 17 April 2024 to 31 JxDU•ry 202$ ACCOUNTING POLICIES BAsl# of prepar18 the ftn•Dclal 5tatement$ The flnancial 5tatem¢nis have been prepared in accordsnc¢ with'Awounting and Reporting by Chariti¢s.' Siaternent of Recommended Practic¢ applicable ro ¢harities prcparing their accounis in acwrd8n¢e with the Financial Reporting Standard applicabl¢ in ihc UK and Republi¢ of Ireland (FRS 1021 (Second Edition). and the Finsncial Reporting Standard Rpplicabl¢ in the United Kingdom and Republic of Ireland (FRS 102) and the Charitie5 A 20118nd UK Genually Accepted Practie¢ as it applies from l January 2013. The financial stat¢menis h&ve bccn prepared to give a'true and fair. view and he departed from the Charitie5 (Accounts artd Reponsl Regulations 2008 onty to the ext¢nt required to provide a'true and fair view,. Thi5 departure has involved following 'Accounling Reponing by Charilics: Statement of Recommended Praclitt applicable to ¢hgriiies prepartn8 their accounts in aeeordance with the Finan¢tal Reporting Standard applicable in the UK and Republic of Ir¢l¥nd IFRS 1021 {Sccond Editionl'raiher than the Accouniin8 and Reportin8 by CharitL¢8- Statement of Recommended Practie¢ ¢ffective from l April 2005 which has since been withdrawtt. The a¢¢ounts have been prepwed on a Group consolid4t¢d basis to include the post-aquisltion results of the charity's direct Subsidiary Incorne All incom¢ is Teco8nised in the Statement of Financial ActkVLti¢s once the charity has entitlement to th¢ funds, it is probable that the income will be re¢¢ived and the amount ran be measured reliably. Exptndlture Liabililits are re¢o8nised as expenditure as soon there is # 1¢8al gr wnsiru¢tiv¢ obli8&tion committing the charity to thai exp¢ndilure, it js probable Ihat a transfer of economiG benefits will be requiTed in settlement and ihe amount of th¢ obligaiion can be measured reliably. Expendiiur¢ 1$ accounted for on an a¢crUS b&sis and ha5 been classified under hcadings that aggr¢gaic all cost related to the category. Where costs ¢8nnot be directly attrilMLted to particul heAdinBs Ihey have b¢en allocated to Acllvlties on a basis con5isient with the use ofresources. Invegtmtnt property Invcstm¢nÈ property is shown At most recent valuation. Any a88regal¢ Surplus or deficit arisirt8 from ¢han8es in fair value is recognised in the Statement of Finattcial Activities. T*xatlon The charity is exempt from ¢orporation tax on its eharitable activities. Fund aetountlng Unrestrict¢d funds can be used in accordance wlth the charttable objectives at the discretion of the trust¢¢s. Restricted fvnds can only be used for particular restricted purrrt)se$ within the objects of the Charity. R¢stTi¢tions arise when specified by the dortor or whert funds are raised for particular restrÉcted purposes. Further explanation of thc nature and pUrW> of each fvnd is Srteluded in the not¢5 to the financi41 statements. Pagc 13
The Michael Barb•rn Bell Fn•t1 Notes ¢0 the Fln•nciil Statements for the Pethd 17 April 2024 to 31 JlliAry 2025 DONATIONS AND LEGACIES L¢8acies 7 864 423 7 864 423 During the period propertie5, iDvestments and c&sh were transferred into th¢ Foundation in aecordan¢e with G B Bell's wishes. A further £458,496 was received after 31° January 2025 8nd it is anticipated that opproxima¢ely £35,IK)O will b¢ received once th¢ estats is finalised. INVESTMENT INCOME ReDts received Deposit accoun¢ interest Ground Rents Other LDt¢T¢St 151.219 3.021 1.251 351 Other tradlllg e¢lvltl Support sts lrtvestment m¥n*8em¢Dt tosts Portfollo management Property maintenance Management & scrvic¢ tharge G¢ncral property costs 7,758 20,507 3,940 Aggr¢ga¢e ttmowits SUPPORT COSTS m#emen1 Total Other trading activities Oth¢T resources expended 7.454 7,454 Page 14
The Mieh&el Dd 1rd Bell FouffjdtitiD Notr5 to the Fill4neil Sthtementi- contlDued rortbe Period 17 April 21ll4 to 31 Jallu•ry 2025 NET INCOMEI(EXPENDITURE) Net in¢omel(exp¢nditure) is stated after ch8rgin81(treditin8)'. Auditors, rernun¢ration Surplu5 on disp)sai of fixed assets 11.820 138,975 TRUSTEES, REMUNERATION AND BENEFITS Tntts, exp¢ryses of £1.174 were pd durin8 th¢ p¢riod ending 31° January 2025. Th¢ expenses related to travellin8 and subsistence for the purpose of attendin8 meeting5. The cost was incurred by three trnstees in the period. SUBSIDIARY Th¢ Foundation o*ns 100% of the thare capital M & B Leatherhead Holdin8s Limited which rnaintains a residential property portfolio. M & B L6atherhead Holdings Limi¢ed w&s incorpornted in En818nd & Wale5. The incorporation number is 12432667. At the year-end 31" January 2025 M & B LtherheHd Holdings Limiied had capital and reserves of £4,238,173. Th¢ counts have been prepared on a Group consolidht¢d basis lo includ¢ the post-acquisition results of the ¢haTity's direct subsidi INVESTMENT PROPERTY FAIRVALUE Disposa15 Leg&¢y transfer Revaluation of propertie5 (1,725,(th) 6,441,074 At 31 January 2025 NET BOOKVALUE At 31 JatLU4ry 2025 5 562 000 The properties were valued on 30 Marth 2023. the date of G.B. Bell's death, by Bray Estates on 1° All9t 2023. Page lj
The Mlthael 4Dd Brbar Bell Fou#dthJ Not¢5 to the Fin•n¢i•l Stsleme•¢$- eDAtlnued fortht Prlod 17 ApTil 2024 to 31 Janllary 2•25 DEBTOILS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors PrepayTnents and ae¢rued inc(xne Tax 474,711 10,318 491936 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses ii. MOVEMENT IN FUNDS Nct movemu In fwJd8 At 31.1.2J UnreJtrl¢t¢d fund$ General fund 4,340293 4 J40.293 TOTAL FUNDS 4 340 293 4 340 293 N¢¢ movement in fvnds in¢luded in the thve are as follows: Incomin8 Movemetlt In fiJnd5 eXpd U•restrleted General nd Pr¢ ac4ulsilion reservej ,159,240 3,660,036 {3.818,9471 4,340,293 3,660.036 TOTAL FUNDS 11819276 3.818.947 8 000 329 12. RELATED PARTIFS Durin8 the period Mrs A R Burns w&4 ippointed as a tnLStee in CIO, is dso o dirwtor of the direcl subsidiary M & B Leatherhead Holdings Limited, for whi¢h she wa5 renum¢rated £7.239 for the p¢riod to 31# JonuAry 2025. P•ge 16
Th¢ Mi¢hat] xd Barbr B¢ll Fo¥ndatlD Detailed St•tement tyf Fin4n¢il Attivities forlht Ptriod J7 April 2•24 to31 J#DUry 202S INCOME AND ENDOWMENTS Dongtions and Itg8¢ies Legacies 7 864 423 7,864,423 Inveitment Imeorne Rents received Ground rent Deposit aceount interest Other interest 151,219 1.251 3.021 351 155.842 Other Incoffje Gain on sa]e of tangible fixed assets 138.975 TotAI Ineomlng re4oure¢s 8,159.240 EXPENDITURE Inv¢5¢ment mn*iemeDt eojts Portfolio monugement Property m&intcnan¢e maneMent & service chorye G¢n¢rA] property costs 17.758 20,507 3,940 44.850 Support eosts Majjagemenl Directors, remuneratlon Directors, Social Security Sundries Battk ehaT8es 7,150 89 128 87 CovernaDte ¢osts Auditors, rcmuneration Aecountancy and legal fr¢5 Trustees. expenses 11,820 12,085 Totat resources ¢xpended 77 Net Sneome 8 081,857 Thi5 pa8E docs Forni part of the s¢atutory fln¢]l statemettts Pftge 17