THE BOOTH CHARITIES ANNUAL REPORTS AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Registered Charity Number 22 1800 Pages Reference and Administrative Details 2 - Trustees, Annual Report Distributors, Annual Report 4 - Statement of Trustees, Responsibilities in Respect of the Accounts Independent Report of the Auditor Statement of Financial Activities 8-26 27 28-30 31 Balance Sheet 32 8 - Statement of Cash flows 33 Notes to the Accounts 34-55 THE BOOTH CHARITIES REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024 Trustees of The Booth Charities holding office during the year: WT Whittle R Fildes R J Weston R P Kershaw P C Okell J C Willis, CBE CPFA Mrs B Griffin, MBE P J Loftus JHTul S B Cheshire A Morris CcytalNe Trustee Ccwlatwe Twstee Cwilalive Tfuslee C¢wtative Tiustee C¢xJptalive Trustee Nominative Twslee Nominative Trustee Co-optalwe Trustee Ccpopialive Trustee C¢w)talwe Trustee Cctroptalive Trustee Chaim￿Tr Vice Chairman from 8th June 2023 Vice Chairman lo 8th June 2023 from 7th December 2023 Clerk to the Trustees J A Aldersley Dlstrlbutorn of The Booth Charttles holdlng offlce durlng the year: Ex4)fflclo P Dennett, E89, Cty Mayor Mr G G Curtis. Senior Church Warden, Manchester Cathedral Mr S During, Senior Church Warden. Manchester Cathedral 10 12m May 2024 from 12th May 2024 Olstrlbutorn Mrs B8rb8r8 Griffin, MBE Councillor K Garrido Councillor D A LarKa51er. MBE P M McNamara Councillor J Mullen Councillor G Reynolds Mrs M-L Walker, JP. DL C Wells. DUnN J C Willis. CBE CPFA Cmptalive Nominative Nominative Nominative Nominative CTroptstNe CL￿ptaINe Nominative Coryoplative Ch8inn8n to 151h May 2024 from 15th May 2024 Chlef Executive Officer to the Dlstrlbutors Mrs S M Jones THE BOOTH CHARITIES REFERENCE AND ADMINISTRATIVE DETAILS R)R THE YEAR ENDED 31 MARCH 2024 Registered Offlce 3 Royal Mews Gadbrook Park Northwich Cwa 7UD Offices of the Distributors The Wlliam Jones Building 1 Eccles Old Road Saiford M6 7DE Sollcltors Accountants External Audltor Internal Auditor Butcher & Barfow 3 Royal Mews Gadbrook Park Northwi¢h CW9 7UD DJH Mrtten Clarke Ltd Ifomierly Haines Watts) 8ridge House Ashley Road Hale WA14 2UT Beever and Slruthe One Express 1 George Le￿h Street Ancoals Manchester M4 5DL BDO LLP 3 Hardman Street Spinningfields Manchester M3 3AT Investment Advlsers Ralhbone Inveslmenl EVe￿n Partners Sarasin & Partners LLP Management Limited Investment Management LLP Juxon House Port of Liverpool Building Ifomerly Smith & Williamson) 100 St Paul, Pier Head 14th Floor Churchyard Liverpool L3 INW 103 Colmore R¢Jw London EC4M 88U Bimiingham 83 3AG Investment Managgmont Perfom)ance Advlsers Portfolio Fieview Services Palings Warboys Road Kingston Hill KT2 7LS Banker8 Bank of Scotland plc 30 Sl Andrew Square Edinburgh EH2 2YR Barclays Bank plc 1 Churchill Place London E145HP Lloyds Bank plc PO Box 545 Frayners House 25 Monument Street London EC3R 8Ba The Co-operallve Bank pk 1 Balloon Street Manchester M60 4EP santar￿er UK Bank Customer SeNice Centre Bootle MerseysK18 L30 4GB Nationwide Buikling Kings Park R¢%id MOU￿On Park Northampton NN3 6NW Yorf(shire Bank plc 48-50 Market Street Manchester M1 1PW CCLA Investment Management Ltd One Angel Lane London EC4R 3A8 Nalwesl plc Western Avenue Waterside Court Chatham Kent ME4 4RT Skipton Building s￿Iety The Bailey Skipton North Yorkshire BD23 10N Property Managers John Forre51er Ltd First Floor 19121 Chapel Brow Leyland Preston PR25 3NH The Brovln Rural Partnership 4B Adams Court Adams Hill Knutsfofd Cheshire WA16 6BA Legal Owen Nanlwth Court Hospital Street Nantwth Cheshiie CW5 5RH THE BOOTH CHARITIES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and the financial stslements of Ihe Charities for the year ended 31* March 2024. The financial statements have been prepared in accordance wrth the accounting policies sel out in Note 1 to the accoun15 and comply with the Charrties. trust deed. the Charities Act 2011 and Accounting and Reporting by Charities." Slalement of Recommended Practice applicable lo charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Humphrey Booth the Elder's Charity and Humphrey Booth Ihe Grandson's Charity I"Ihe Charities'l (Registered Charity Number.. 2218001 are governed by a Charity Commission Scheme made on the 10th December 1985. A uniting direction was made on 2&h October 1998 in order that the distinct Charitie$ could be accounted for as one, subject lo identifying the financLal IransaclKJns. assets and liabilrties of each Charity. The Charities of Humphrey Booth comprise the Elders and Grandsons, who have Trustees in common, and the Dislribulors who carry oul the objectives of the Charities. The Trustees are a body corporate, by virtue of the provisions of The Booth Charities Act 1846. The dUt￿S and responsibilities of the Truslees and Disliibulors are entirety separate under the 1985 Charity CommissK)n Scheme. The Tfuslees consist of elevén cA>mpelenl pwsons. being ￿ nominative Trustees [app￿nted by the Distributors} and nine C￿0p1alive Trustees (being persons who through res￿ence, occupotion or empbymenl, or olhetwise have a special knowletjge of the area of benefft}. Trustees meet four limes each year lo revw Ihe perfom)8nce of the Charities. investment and property assets. New Trustees are selected lo ensure Ihal the Chanties have a broad range and balance of expertise and skills with particular emphasis on invesbnenl and property management. Where appropriate, Trustees are provided with training and inslruclion. Trustees are made aware of their responsibilities through Ihe annual revwi of Management and Governanc8. The Finance and Investment and the Property Groups of the Charities meet regularty lo monitor the performance of the Investment Managers and the CharTties' investment properties and to moke rI3￿￿mendatIonS to the Trustees lo seek the best OPF)ortunil￿S for the Charities, Investment assets. Trustees are required lo disch)se all relevant interests and rogister them wlh the Clerk lo the Trustees and in accordance with the Charities, policy withdraw from decisions where a conflict of interest arises. A declaration of interest enquiry Irom the Chairman 15 a slandard siem on all Trustee meeting agendas. The Charities are well placed in having a team of experienced advisers who understsnd tts objttlives fully. Their advice and continued support a￿ grealty valued. KEY MANAGEMENT PERSONNEL REMUNERATION The Trustees consider the Board of Trustees comprise the key management personnel of the Elder's an¢J Grandson's Charrties in charge of directing and controlling the Charities. All Trustees give of their lime freety and no Trustee remuneration was paid in the year, other than an honorarium lo Ihe Chaimian. Details of the honorarium. Trustee expenses and related paty transact￿n5 are disGk)sed in the notes to the accounts. THE BOOTH CHARITIES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees govern the Charity and are responsib￿ for the care and investment of the assets of the Charity. The Trustees meet the requirement of publ￿ Benefit passing income to the Dislribulors of the Booth Charities for furtherance of the objects of the Charity whth are direcled lo the Area of Benefrt, being the inhabilanls of the City of Saword, and ¢onsb'tule'. The relief of the aged. impotent or poor inhabilanls irKluding the payment of pensions lo and the provision and maintenance of almshouses for pc￿ inhabitsnts with a p￿fereThCe for such poor inhabilanls who are over sixty years of age. The relief ol distress and sickness among the inhabitants. The provision and support (with the object of improving the condition5 of lrfe for the inhabtsnls in the interests of social wewarel of facilitie5 for recreat￿￿ and other leBure lime occupation. The proviskjn and 5UPPOrt of educalional facilit*s for the inhabitants. Any other charitable purpose {whelher or not of a r￿Ure simlar lo any of those hereinbefore specifi'ed) for the benefit of the inhabitants. The Trustees meet the Distributors of the 8oolh Charities regularly and are fulty supportive of their inilialive5 10 use Ihe Charrties, income for the inhabitants of the City of Salford. During the year £948.00012023 £900,000) was made available lo the Dislribulors. Grant gNing aclivrties are considered fulty in the Dislribulors. Annual Report on pages &26. The Trustees meet the requirement of Public Benefrt by apptying the income of the Charity primarity in or towards the repair and maintenance of the Church of Sacred Trinity, Salford. the yard attached Iherelo, and the frttings, furniture and omaments therein and subject Iherelo, rf the Trustees and Dislribulors so think fil, in augmenting the Stipend of the Rector for the time being of the Church. Subject lo that requirement, the Trustees pass the remaining income to the D￿lribUtorS in furtherance of the same objects as apply to the Charity of Humphrey Booth the Elder. In the curient year, experidilure direclty related lo Secred Trinty Church in the Grandson's Charty amounted lo £21,781 {2023 £22,020) and is Irealed as a charitable grant. Quoted Investments Dividends and fixed interest investment ir￿rne was 13.6}% ENer than the previous year al £642,717 {2023 £666,5a81 due to 8 ieallocalion of asset classes lo protect caprtal grrAvth. Investments managed by the charit￿$. Investrnent Advisers increased in market value by 10.3% during the ye8r to 31 March 2024 reflecting the current worl0￿lde market trends. Net realised gains from investmènts were £54,977,12023 loss £1299.7751). Unrealised gains from investmenis were £2,956.77612023 Unrealised losses £11,447,33811. Interest paid by banks amunled lo £23.868 (2023 £3.7121 and VAT wovereA was £47,264 (2023 £44.5781. THE BOOTH CHARITIES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Property Assets Property rental incorr* is 3.8% huher than the previous year at £1,024.611 {2023 £987,075) following a review of Agricultural rents. including water abslraclion rights which have been increased in line wrth RPI, plu5 lease renewals at a commercial propety which had been delayed in prevKJus years due lo the COVID-19 pandemic. The members of the Propety Group are ￿nstantlY observing the srtualKJn with tenants and are assisting where appropriate, h¢)wever rt is encouraging that there have been no propety voids. In accordance with Accounting Policy 1.11, the Trustees have commissioned the Quinquennial revaluation of the Elder's Charity agricuttural and commercial propety inveslmenls. This has resulted in an unrealised property gain of £3.136,749 in the year ended 311t March 2024. The next fomial valuation will be carried out in March 2029. The policy of the Trustee$ 1$ to secure increasing income, with Ihe objective of being at least in line with inflation, over Ihe longer temi and lo use their reasonable endeavours lo maintsin caprtal values in real terms of the assets of the Pemanenl Endowment Funds that are under rts conlrol. The Trustees invest the assets of the Chari(ies be￿een agricuttural and commercial property and stock market investments, The Trustees use appropriate professional advice for the management ol its propety portfolio and for advice over ils Stock Exchange investments. The Truslees have gcanled discrelionary aulhorty lo the Investment Managers, subjèct lo an objeclwe lo generate a return of income of 3% of the portfol￿ valuation, and lo achieve capital growth over the investment cycle of CPI + 30A. Th8 Finance and Investment Group and the Property Group ffleel regulatty lo monitor the performancè of the Investment Managers and the Charrt*s' investrnenl properties and lo seek the best opportunities for uninvesled cash balances. The hvJh levels of stock market volalilty. Ihe impact of COVID-19 and the continuing uncertainty rogarding world economic prospects have made the managemenl of inve$lment5 ehallenging in recent years. The Charities are a long-term investor and the TTu$lees. on professional advice, continue lo hold a mixed portfolio of equities, bonds and other investments designed lo prwde a level of stsble income and the possibility of investment gain5. The investment portfolio is weighted with medium appetf(e for risk. Perfomience of the fund Man￿eTr to 31￿ IAarch 2024 measured on Total Relum is summarised below.. 1 Year Benchmark Funds under Management as al 3111 March 2024 Eklerfs Grandson's Total Income to 31￿ Maich 2024 CPl+3 6.3% FTSE All-share Index 8.4% Ralhbones 11.7% 16.3% £15.2m £15.2m £342 3k Evelyn IS&WI Total Funds 15.1% 16.8% £10.Om £4.6rn £14.6m £300.4k £25.2m £4.6m £29.8m £642.7k In challenging investment condrtions over the pasl year, the Investment Managers have performed as well as can be expected. The Tru51ees continue lo monrtor the inveslment portfolio on a monthty basis and consu wrth Portfolio RevEw servi￿ as required with any observations about the Investment Managers, pertomance. THE BOOTH CHARITIES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Property Perfomiance Rental yield against the March 2024 propety asset value was 4.5% which the Trustees consider to be satisfactory. Th8 principal iisks feced by the Charit*$ in the perf¢)mwnce of investments and operational risks from ineffective grant making and the capacity of the D55tributorfs Charity to make effective grant8. The Trustees conshder variabilty of investment relums lo conslrtule the Charities. major financial risk. This 18 miligaled by retaining expert inveslmenl managers and hwng a diversified investment portfolio. The members of the Finance and Investment Group receive 8 monthly update of the performance of the Portfolio and the indiwdual Inveslmenl Managers from the Accountant and review this alongside the quarterly report5 re￿iVed from the Investment Managers direct. Since the downturn in worldwide financial markets in 2020, the Charrtie$' Porttolio values have been provided on a weekty basis. This has allowed the Trustee$ to keep the Portfolio under constant ￿VIeW with the trends in Ihe markets lo the end of March 2024, being clearly visible. The Charities are long lerrn investors and whilst acknowledging short lemi political and economic factors outside their control, rely on the dwersty of the investment portfolio to achieve their objectives. The Trustees cOns￿eT the risk to propety income Irom property voids 8nd late payments is miligaled by the use of locally based propety and land agents who maintain regular wnlxt with our agricultural tenant farmers and tenants in our commercial unrts. The members of the Property Group are Constant￿ observing the situation and are assisting where appropriate. The Trustees also review governance practic￿ annualty and aim lo achieve best pract￿. The Charities continue lo comply wrth current slalulory requirements, rt5 goveming documents and wrth the Accounting and Reporting by Charit￿$.. Slalemer51 of Recommended Praclth applicable to Charities preparing their accoun15 in acwrdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. An annual review of Mana9emenl and Govemance is made covering future Trustees. Governance, Risk Review and Management, and Review of Duties under the Truslee Act 2000. The reserves of the Pemianenl EnOJNmenl, Discretionary Capital and Extraordinary Repair Funds are not evailable for distribution. Trustees have reviewed the reserves policy of Ihe Charities. Unrestricted Reserve Funds as follows :. Trustees have reviewed the Unrestricted Fund and approved that a minimum reserve of al least £700,000 should be maintained. This level provides sufficient funds to cover the working commrtmenls of the Charity. Al 31 March 2024 the reserves balance on the Un￿strided Fund was £1.712,11812023 £1,447.7091. The reserve value held in the current year is due to the Un￿rtaInty of workl markets in the coming yeai. The Unrestricted Fund cash balances at 31 March 2024 were £1,756.81412023 £1,393.3501. THE BOOTH CHARITIES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Trustees have reviewed the Unre51ricted FurKI and decided that tt is appropriate to maintain minimum reserves of £50,000. This level provides suffiuent funds to cover the working commitments of the Charity. Al 31 March 2024 the reserves balance on the Unfeslricted Fund was £70.83612023 £74,345). The Unreslricled Fund cash balances at 31 March 2024 were £119,26712023 £114,041). The current assets are sufficient to meet the Charil*s' obligat￿nS. The Trustees consider the Charities lo be going concern under the current definrtion thereof. The Trustees have sel a budget for 2024125 to transfer £996,000 from the Unrestricted Funds lo the Dislribulors 12023124 £948,000}. This is based on their assessment of income projeclions and the current financial climate. In addition, the Trustees have approved captsl grant funding of £534,000 lo be transferred from the Elders Discretionary Capital Fund lo the Dislribulors for specific iefurbishmenl works lo be carried out al Buile Hill Mansion in Saiford during 202412S (see page 13, Distributo￿ Report). Approved by the Trustees on 4th September, 2024 and signed on their bghaif by.. W T Wh6ttle Chairman of the Twslees THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Distributors present their annual ￿port for the year ending 31* Ma￿h 2024. #TRUCTU The Dislribulors of the Booth Charrties cons￿1 of len cxjmpelent persons being.. Two Ex-officio Dislribulors Five Nominative Distributors Three c(￿ptatiVe Dtslributo Ex-OffSclo Dlstrlbutor5 The Mayor of the City of Sallord The Senior Church Warden of the Cathedral and Colkgiale Church of Sl Mary. Sl Denys and Sl George, Manchester Nomlnatlve DlstrSbutors appointed as follcws'.- Three by the Council of the Cty of Salford Two by the Trustee5 of The Bc¥Jlh Charitvas Co-optatlve Dlstrlbutors are appointed by a Resolution of Ihe Distributors al a Special Meeting and are persons who through residence. occupation or employmenl, or otherwise havè a special knowledge of the area of benefit. SELECTION AND TRAINING New Distributors are selected in compliance with the Goveming Order and urKlorgo induct￿￿ and training relevant to their role. New￿ appointed Dislribulors holding off￿e dunng the year were issued v*th an Induction Pack including a copy of the Governing Order." S18nding Financial Instructions., GDPR Privacy Policy.. Charity Commission Guidance CC3 the essential Iruslee.. what you need to kn￿, what you need to do and the Charity Commission's'charity Trustee Weleome Pack.. New Distributors are selected in compl￿nCe wi¢h the Governing Order and undergo induclmin and training relevant lo their rola. Relevant training courses are offered lo Distributors through￿t the year. Dislfibutors are issued wth copies of the Chartty Commission Nthvs. CHARITY GOVERNANCE CODE Al their meeting hebj on the 9th June. 2023, the Distributors re¥1￿￿d and approved the Charty Govemance Code for Smaller Ch8rities12020 Ed¢tionl and, having in place rigorous governance arrangements, moslty compty with the Code. The Charity Governance Code will be rev￿￿ annual￿. Governance aspects of the Charity are considered and reviewed through0￿ the year as part of the Risk Register and the Chanty Governance C(xle is useful in highlighting improvements that can be made. Any significant improvements will be ￿ported in futijre Annual Reports. THE BOOTH CHARITIES DISTRIBUTORS. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 KEY MANAGEMENT PERSONNEL REMUNERATION The key management personnel of the DislribthoTS to 31￿ March. 2024. comprise the Distributors. the Chief Executive Officer, Deputy Chief EXeC￿Ne Officer and Accountant. The Charity 15 a Living Wage Employer. A salary increase was awarded under the contractual Annual Review. The Charity sets pay and remuneration of key management personnel (the Chief Execulrve Officer, Deputy Chief Executive Officer and Accounlanll by benchmarking against the charitable sector. The five Objects of Distribution are sel out in Statutory Instrument 1985 No. 1935.. The Chariljes IBoolh Chariliesl Order 1985 and are geared lo beneffting the inhabrtants of Salford- the Charit￿$, area of benefft. In reporting and accounting records mainiained Ihroughoul the year and made available for audit 8cruliny. grant distribution approvals were linked to the Oty'ecllsl under which they were approved. Acting in compliance with the Charrt*s Act 2011 and the Governing Order, the Charities ensured that their operational fc¢us throughoLrt the yaar was geared to public benefil. Via the triennial ￿VIeW of the Distribution Strategy 202312026 the Distributors took the opportunity lo maintain the level of distribution lo meet increasing need in the Cty. Impact Measurement is an integral part of the grant rTh)nitoring procedures rigorousty adopted by th8 Dislribulors. 11 is refleeted throughoul the d￿UmentatIon and prccesses despjned lo capture information regarded as essential lo Dislribulors, decision-making and is a facel of their good stewardship. sustainability, and scrutiny of grant applieation8. The dislinclvJn between intention and outcome in order lo measure impact is r&ognised, and is addressed via". grant monitoring visits evaluation ￿pOrtS photographic evKience,' and presentations by grant recip*nt$ lo the Board of Distributors Thè value and purpose of Booth Grants is varied. The aim of the Charity is lo have a real impact on the ability of organisations and indNiduals lo improve the qualty of life and general well-being of Salford inhabitants. The Charities, purpose and distribution framework are set out in the Objects in The Charities {Booth Charr(iesl Order 1985. thus provi(iing ¢￿ar parameters for measuiement. THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Historicalty, In the Distributors. Annual Reports. all approved grant applutions are linked lo the relevant Object. A lolal of 60 organisations {excluding Christmas Granlsl recewed grant fundirvJ in the year ending 31°, March, 2024. During the reporting period. the approximate total number of Salford inhabitants who benefitted was 41.567 es follows:_ 14,902 from Accredited grant I￿r￿ing 23,020 from Responsive grant funding 3,645 from Small grant funding The number of beneficiaries of ind￿￿u81 grants a￿ shown throughout this Report. 24 of the 60 organisations were Citywkle projects having the potential to benefft all Salford inhabrtanls. A grant mapping exercise lo ￿enIty Ihase h)calilies in the area of benefit targeted as a priority to ensure effeclwe coverage of Ihe City, has assisted geographic impact measurement. Throughout the year analysis has been carried out on data collated in resped of hthv Grant Applicants became aware of applying lo the Charity for grant funding. The Cty of Safford is divid&J into ￿enty electoral Wards 88 Outlined below. The table shows the Wards and the number of grants approved per Ward. Salford Wards Number of Responslv¢ and Small Grants approved per Ward Number of Accredlted Grants approved per Ward for the Ihraè-year period 1•1 Aprll. 2023 to 31*t March 2026 Barton and Winlon Blackfriars and Trini Boothslown and Ellenbrook Brou hlon Cadishead 8nd Lv4ver Irlam Claremont Eccles her Irlam and Peel Green Kersal & Brou hlon Park Little Hullon Ordsall Pendlebu and Clifton Pendleton and Charleslowrb Qua Swinlon Park Swinlon and Wardle Walkden North Walkden South Weaste and Seedl Worsle and Westwood Park 'Other 13 11 Totsl 21 'A total of 24 approved Grants were in the category"Othef covering more than one Salford Ward. Grant distribution activty data is i￿luded in this Annual Report- see page 21. 10 THE BOOTH CHARITIES DISTRIBUTORS. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Quantitstive and Qualitative lrnpact Measurement lil Greater Manchester Youth Network IGMYNI: Responsive Grant (Object 21 Funding to support the GMYN'S Progrdmme for Young People wlth Experfenc? of the Caro System in Salford Ba¢kground The Greater Manchester Youth Nelwork was awarded responsive grant funding for the Ihree-year period 2022 10 2025. The funding was approved to support the GMYN'S programme for young people with experience of the care system in Saiford and specifically towards the salary costs of the Programme Manager. Alm of the Project To deliver the GMYN Programme delivering high qualty arKI engaging youth se88￿n8, collaborating with other organisalions on the safegu8rding ol vulnerable young people. and working towards improving services in Saword for those with experience of the care system. Outcom•s The GMYN Programme worked wrth 49 young people in Year 1 {2022r231 and 56 young people in Year 2120231241 across Nvo groups- one lor young peop￿ aged 10-16, and one for young people aged 16- 25. The Programme ran a minimum of ￿¥0 sesshJns pew week. with the number of sessions being increased during the school holidays or lo support the delivery of certain projects. One-towone support was also provided lo help the Young People work through barr￿r5 and challenges and goal setting. Thè weekty sessions for the young pecple aged 1(￿16 covered wellbeing acliwlies, confidence building. and developing st%￿1 conne¢lions and friendship5. Year 18Ctivities included team building 98mes and arts and crafts. Year 2 highlights included a project al Chimney Pot Park where young people worked with staff from RHS Bridgewaler, sa￿ord. lo provide a mural on a community building and ¢realed new garden bed. Through the Conststenl positive experience offered by the sessions the young people showed a marked improvement in their wellbeing. cL)nfidence, communication and resilience, including the abilrty lo form and nurture friendships. The se8sion8 for the older group focused on the developmant of lrfe skills for in¢Japandenl living and supporting young people lo build posrtive sccial and professional relationships. Aclwilies and projects included a communty art project where young people designed new sfvJnage for garden visitors al Bulle Hill park, care and repair DIY workshop5. creation of a graphic novel their experiences of the care system and cooking sessions invofving planning and preparing a meal. The Group also tcK)k part in employabilty sessions wrth some group members participaling in an empbyabilty workshop bringing together young people and business represenlalives lo discuss emptymenl opportunities. 1111 Salford City College: R¢spon$lv• Grant (Oblect 41 Fundlng of Th8 Humphrey Booth Univetslty Bursary Background Salford City College was awarded responsive grant funding over three years for the period 202110 2024, to 5UPPOrt SaWord College Students aspiring to attend Universty for their ongoing studies. The Bursary n8med'The Humphrey Booth UnTversty Bursary. is open to 10 eligible Salford College studen15 who have overcome barriers andlor financkal hardship and demonstrated an eX￿pIlOnal dedication and commrtment to their studies. THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AIARCH 2024 Alm of the Project Applicants are nominated for the Bursary by teachers and members of the College Pastoral Care team. All applicants nominated for the Bursary evidenced a number of challenges as a result of their life experience5 OUtSKJe of COl￿e including having to care for sibling5 with disabiif(ies and learning drfficullies. being looked after chIld￿n and care leavers. coming from low-income households and experiencing on4Joing financial hardship, invofvement with Children's servI￿s andlor experiencing serious safeguarding concems, and having to acl as ¢arers for their parents. Following an app1Kat￿n and presentation process 10 candidates were selected for the Bursary. Despite their everyday challenges, each cand￿ale demonslraled a high level of commitment, hard work and (ledication to their studies and all 10 Cand￿aleS were successful In being accepted for a University degree in a range of courses including Law, Chemistry, Nursing, Fashion, Games Design, Psychobgy and Counselling. Outcom•s Successful candidates are required lo produce update reports exh year detailing their progress, the impad of the Bursary and how it supported them in their Stud￿5. Feedback from the updates showed that the funding from the Humphrey Booth University Bursary proved invaluable lo each sL￿CesSful canddale in helping to reduce the financial burden of undertaking a degree. From the Bursary grant funding students have purchased a variety of equipment and resources e.g. i-pads. Laptops, textbooks, unrfoms and DBS checks for nursing placements, required sothyare and technology, as well as conlribuling towards transport costs to and from University enabling the students lo focus on thèir Studiès. 11111 Salford Clty Councll: Responslve Grant (Object 2) Fundlng towards th• 2023 S•llord Hollday Food and Actlvlty Programmo IHAFI Salford Cty Council was award&J responsive grant funding to support the Hol￿aY Food Programme 2023. The funding v4as used to provide Take Make recipe boxes for families whose children attended the Christmas HAF programme. Alm of the Project The Take and Make boxes eonlained recipes and ingredients for 2 famity meals providing nutntious food for families experiencing foL*J insecurity and to encourage children lo get involved in cooking with their parents. One of the key objectNe$ of the HAF programme 15 10 increase the amount of physical and enrichment aetivity that children do. In addition to the fo(¥J, e￿h box contained a voucher for a family swim session al a Saword Communty Leisure site. Outcomes The boxes were created by Crtyw'de (the City Council's intemal school meal providerl, packed at Bulle Hill Conference venue and delivered on the 21 and 22￿1 December, 2023. to over 40 locations across the City where the HAF programmes were being delivered. From a qualrtatwe evaluation lo assess the programme and prior to the introduction of the HAF programme.. 440h of parents reported that the school holidays pul a financial strain on them due to paying for extra food for their children.. 12 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 460A of parents reported the extra food provis￿￿ reduced their level of anxEty about finances and, where in the past providing fol￿ over the holidays was a problem, the prcgramme helped a1￿late their concerns.. and 50QA of par8nls reported half-t8rm holKlays put a strain on their family's mental welkbeing. Following the introduction of the HAF Pfogramme, 640A of parents reported the programme had reduced their level of stress wth 44¥JA re[￿rtIng improvement in their mental well-being. A lolal of 1,965 Saword famil*s benefrtled from the Take and Make boxes and famity swim vouchers. Dlscretlonary Capltal Grant Fundlng 8ulle Hlll Manslon. 8ulle Hlll Park, Salford- Fundlng towanls refurblshment works- Ioblect Sl At a Meeting on Ihe 11th October. 2023, a Proposal for Ihe refurbishment works al Bulle Hill Mansion was considered by the DislribLrtors for funding from the Discretionary Capital Fund. The Proposal W¥B further considered by Ihe Charities, Trustees al Iheif meeting on 7th Decembar. 2023, and a grant of £533,254 was approved lo fund.. the installat￿n of a lrfi facilty; the ereclion of the exlemal fire escape staircase pod; and work associated wsth the internal stsircase The Mansion is located within Ihe Cty of Saword's 'jewel in the crtr4vri' Grade11 listed Bulle Hill Park. spanning 35 heclares185 acres) is the largest Park in the Cty. The Park is situated wf(hin the highly populated residential Claremont, Weasle arKI Seedley neighbourhood areas. In 1975, the Lancashire Museum of Mining op8ngJ in the Mansion but closed in 2000 and the Manshin had, since that lime, sto¢>J empty. The refurbished Mansion will fe8lure 30,000 sq ft of offices for the City Council's Registry Office, 8,000 sq ft Wedding and Events Venue and a 2,(hJO sq ft café and bar area. The park annually hosts a number of events and in Ihe last 12 monlhs12023r241 the footfall through the park was estimated al 647,677 visits equating lo a welfare value of £1.862,537. The weNare value for the park visits 18 calculated by how much an indwidual's weware would f811 rf they were no longer able lo access the park ar￿ then convertirvj the welfare quanlty into 8n equNalenl mnetary amount. As part of the refurbishment works disabled a￿$S ramps will be installed 81 the front of the Man8ion enabling accessibilty for all re$￿entS and communities in Salford. The refurbishment works commenc&J on 20th November. 2023, and are scheduled for completion December. 20241earty January, 2025. The approved Discretionary Capital Grant funding wll be paid on completion of the refurbishment works. Accredlted and Responslve Grant Monitoring During the rewjrting pericKJ.' 12 grant monitoring visrts were undertaken to ￿1plent organisations. Photc8raphic records and other materia15 relevant to the benefr( derThied from grants ware displayed al meetings. 3 ACC￿d￿ed and 27 ResponsNelSmall grant reports were submitted lo meetings of the Dislribulors. 13 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Expenses Payment of expenses i% limited to actual costs incurred by Members and Offi￿rS engaged on official business. The HMRC approv￿ mileage rale is reviewed annually by the Oistributors. Best Value for Money The Charity continues lo ensure value for money 1$ ach￿v9￿ when procuring gco(Is and senrices by obtaining comparative quolalions and where appropriate using companies within the Charity's area of benefit. Prudence The Financial Climate In order lo delNer the Charity's Obl￿ts effedivety, the Board of Dislribulor¥'. - has in plxe poliC￿S and procedures lo control and manage reserves. inlegrales financk41 and slr8legic planning. ensures financial suslainability by mnrtoring and reviewng financial performance, cash flow and budget statements. managas risk via robust grant appliCat￿n scrutiny and monitoring procedures. has regard lo Ihe Crty-wde Strateg￿ Impact of grant distribution. lakes appropriate professKsnal advice. prepares the Annual Report and Accounts- including quarterty Management A¢￿Unts- in accordance wrth Statutory requiremenl8, and SORP, and olher gooLI pract￿e 81andard8. Standards of 8uslness Conduct A Gift and Hospitality register is maintained and was reviewed by the Distributors who were satisfied that the grfls received were of a value and were pr(xessed in compliance wrth agreed criteria. The annual DecL4ralion$ of Eligibilty for appointment as Distributors were cxjmpleled by the Distributors in compliance with Charrty ComMi88￿n gu￿anCe CC5C requirements. The register will be maintained and updated accordingty. A Declaration of Interest enquiry from the Chair remains a starKling item on all Board meeting Agendas. The Distributors and key monagement personnel completed annual Declarations of Interest lo facilttale the Proper conduct of meetings and the Maintenan￿ of a register. Common Reportlng Standards The Charity maintains a tax register in respect of all approved grant funding awarded lo grant recipients. 14 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Investment Policy and Performance During the year the Distrt*ulors of the Booth Chanties held ts¥o inve51menl portfolios.. Unrestricted Reserves and the Short-Term Portfolio. The inveslment strategy of both portfolios is appropnale lo their objectives and investment limeframes. These funds are managed by Sarasin & Partners LLP on a fully discretionary basis. Further details of each portfolio are nota below. including the values on 8 bid price basis. Unrestricted Reserves The Unreslricle(l Reserves Fund has remained fulty invested in Sarasin Endowrnents Fund. As al 31st March, 2024, the value of the Unreslricled Reserves Fund was £355.2¢￿ compared lo a value of £318,896 as at 31st March 2023. This represented a lolal return increase in value of 11.4%, nel of fees. Over the same period. the composrte benchmark for perfomiance measurement purposes rose by 15.5%. The composrte benchmark 1$ ￿Mprised of the relevant indices for the asset classes the manager is likely lo invest in, weighted according lo the managerfs ￿)ng4e￿ strategy and was amended from the beginning of Jun8 2023 to remove a specific weighting in UK equities and il was, instead, managed on the basis of a fully global equity altocalion. Accordingty, the benchmark applied from that dale was 7.5% UK Government Bonds, 7.5Qk Sleding Corporale Bonds. 10QA Global Equilies currency hedggj, 60OA Global Equities currency unhedged, 50k Propety, and 100A altemalNe asset classes. The neutral all￿tIOn lo sterling was also amended lo 400A from 600h previousty. The investment objective for the UnreStr￿ted Reseryes Fund is to maintain the taprtal value by achievlng an overage capital growth after fees. over rolling five-year periods, equivalent to CPI as al 31st March each year. Since the Disllibulors of the Booth Charrties Unreslricled Resetwes are Invested in accumulation units of tho Sarasin Endowments Fund with income aulomalicalty reinvested, the ¢aprtal return of the Sarasin Endowments Fund is not an exact proxy for the caprtal retum 8ch*ved because il does not lake account of any c8Pltal return lor reduction) on the reinvested income. However, since the underlying investment in the Sarasin Endowments Fund is the same as that hekl in the Pemanent Endowment Fund of the Humphrey Booth Housing Charity, the capital return achieved by the Humphiey Booth Housing Charity can be viewed as a proxy measure. Over the rolling fNe years to 31st March, 2024, the capital return was 20.5%, which was behind the rise of 24.3% in CPI inflation over the same period. The last year proved lo be 8 favourable one for equities, as investors began to feel that interest rates were cbse lo their peak a5 inflation started lo fall and excrtemenl about the growth potential of Artrficial Intelligence (AI} drove up sharply the share prices of a number of large US technology stocks. As inflation fell back lo lower leve15. the gap befvleen the rale of CPI inflation and the capi(al return achieved by Ihe portlolio shrank considerably relative to last year. Income generated by the Sarasin Endowment Fund unrts over the year amounted lo £9,468.93 and this was automatically reinvesle(l as accumulation unrts are held. The Unrestricted Reserves Fund received a fee rebate of £659. being the difference behveen the standard fee ¢harged wrthin the Sarasin Endowments Fund and the actual fee fate negotiated wrth the manageT. The fee febate was used lo pvrchase additional units in the Sarasin Endowments Fund and the hokjing of 139 irKome units was swrtched into accumulation units also. As a result, there were 99.727 accumuLgl¢on unrts held as at 31st March, 2024, comp8red to 99,677 as al 31 sl March, 2023, as well as 139 income unts. As al 31st Maich. 2024, the overall asset allocation within the Sarasin Endowments Fund was 73% Equities, 120h Fixed Income, 4% Property, 7% allern*ive asset classes and 40h Cash Short Term Portfollo On 24th De￿Mber, 2020. £200,000 was inve51ed inlo a Short-Temi Portfolio managed by Sarasin & Partners LLP. These monies, which represent excess reserves that the Dislribulors did not anlicipale spending within the next tsvo years, were fulty invested into Ihe Sarasin Income & Reserves Fund. The value as at 31st March, 2024, was £183,913, which compared with a value as at 31st March, 2023, of £174,719. This represented an increase in lolal relum terms, nel of fees. of 5.3% and the comparative composrte index, weighted according lo Sarasin's long4erm strategy, rose by 6.50h. The Fund rose as bond markets benefitted from the perception that inlerest rates were Glose to their peak as published dats indicated that the growth in inflation was returning lo levels G105e to Cential Banks. targets. 15 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The key objective for this Portfolio duriNJ the year remained unchanged.. to generate a total return greater than cash. The Sara5in Income & Reserves Fund invests predominant￿ in bond markets with a relative small exposure lo equrties and this strategy would appear to be appropriate gThien the shorter time horizon of this portfolio. As at 31st March, 2024, the overall a5sel alkxation of the Sarasin Income & Reserves Fund was 24% Equf(ie$, 65°h Fixed Income, 70A olher asset cksses and 4ryA Cash. Income received over the year lo 31st March, 2024, amounted lo £6.854 and there was also a fee rebate of £343, being the drfference be￿een the stsndard fee charged wrthin the Sarasin Income & ReseNes Fund and the actual fee rate negolialed with the manager. The Income and the fee rebale were both reinvested in the Sarasin Income & ReseNes Fund. The Distributors of Ihe Bcolh Charrties Ethical Investment Policy As already mentioned, the portfolKJs entrusted lo Sarasin & Partners LLP are invested in The Sarasin End¢)wmenls Fund and the Sarasin Income & Reserves Fund. Both Funds operate an ethical policy that excludes tobacco producers or ManLrfaCtu￿ rs of whole weapons systems, as well as companies that dertve more than 10% of turrK)ver from products or servtes related to alcohol, tobacco, gambling or weapons systems related aclThiilies and a 5% turnover threshold is applied lo the revenues of alcohol producers, gambling operations or adult enlertainmenl. The poI￿Y was unchanged during the year. Sarasin & Partners LLP do not consider the policy to be so reslricttve as lo be likely lo impact long-lem perfornance. Ro¥oNes Pollcy In reviewing the quartety Management Accounts and Accounts lor the Financial Year ended 31 11 March, 2024, the Board of D￿tribUtorS was sali%fied that the Chanty was not ￿rrying a reserve for which il did not have suitable pLans for ulilisalion. The Dislribulors, current assets other than inve51menls. which comprise cash and bank assets, are required to meet commitments to grant reLipienls 71% (2023'.34%1 of whith will be paKI within the next twefve months. The total value of unreslricled reserves ts £599,02312023.'£550,177}. As unrestricted reserves, these are for use in the event of an interruption of income from the Elderfs and Grandson's Charities and would be used in the course of meeting the 8oard of Di5tribulors' obligations. The value woulJ be sufficient to cover running costs for at least one year12023'.at least one yearl. Rlsk Management Policy and Strat8gy. Rl$k Evaluallon and Rlsk Register The Risk Register is a standing item on all Board Meeting Agenda. The Oislributors wewed the Risk Register in ils entirety throughout the year. AUDIT SERVICES External Audit Ser¥ic8s Beever and Struthers, appointed as Extemal Auditors in 2015116. continued to provide Extemal Audit Services for the Financial Year 2023r24. 16 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Intemal Audlt SeNlces BDO LLP Internal Audiior5 were appointed to undertake a comprehensive audTt of the Inveslmenls, policies and procedures. and controls. The report on the Investments concluded wrth an overall level of assurance of 'moderate' for deshjn of inlemal control framework and "subslanti￿. for operalional effectiveness of controls. Al their meeting held on V June, 2023, the Distributors approvad the following revised policies for implemenlalion. circulation to $laff and triennial review". Sickness Absence Policy. and CCTV Policy Slalement. Buslnoss Contlnulty Plan.. Recovery or Replacement of Crltlcal Assets and Emergency Response Plan The Business Conlinuty Plan.. Recovery or RepLacement of Critical Assets and Emergency Response Plan was continuelty rev¢ev￿ throughout year. GDPR Following the introduction of the GDPR ￿gislatIon on thè 15th May, 2018. work continues to maintain full Compl￿nCe across the Charty's a¢lNilies. Tralnlng Throughout the reporting period. Ihe Charity's PerS￿ne1 have attended 'virtual' relevant webinars. and face lo face training events. Sa¢red Trlnlty Church: Humphrgy Booth Commemoratlon SerYlc8 The Humphrey 800th Ccrfnmemoralion Service was held on Sunday, 23rf Juty, 2023, at Sacred Trinity Church, Sallord. HUMph￿Y Booth the El¢Jer funded the building of the Church in 1635 and il is maintained from Humphrey Booth the Grandson's Charity estsblished for this purpose. The Service affords an opportunrty for the Challty's beneficiaries, Trustees. Dislribulors, and staff lo acknowledge Humphrey Bcolh's charitable legacy lo Ihe City of Salford and ils inhabitants and as is customary, was attended by Civic Dignalories. a congregation comprised of 100+ beneficiaries," and the Andante Choir, the Manchester Universty Guild of Change Ringers and the Number 4 Korea Company. Gwler Manchester Amiy Cadets. Objects of Distribution As sel out in Statutory Order 1985- No. 1935, viz.:. The relief of the aged, impotent or poor inhabrtants Fncluding the payment of pension5 to and the prow5ion and maintenance of almshouses for poor inhabilanls with a preference for such poor inhabitants who are over s￿ty years of age,. The relief of di5tre5s and sickness among the inhabitsnts,. The provision and support (with the object of improving the conditions of life for the inhabitants in the interesls of s(tial wewarel of facilities for recreation and other leisure-time ocUJpati￿', 17 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The provision ar￿ support of edL￿tiOnal facilities for Ihe inhabitants., and Any othw charitable purposes Iwhether or not of a n*ure Similar to any of those hereinbefore specthed) for the benefrt of the inhabitants. INote.' The"Inhabltants' In the flve object clauses are the Inhabltants of the Clty of Salfordl. Declslon rnaklng In considering Grant Applications and 8W8rds, the Di%lributors have regard lo the following'.- all Grants musl fall within one or more of the Charity's Slalutory Objects of Di51ribulion'. beneficiaries musl be Saword inhabitants., • whether the application has meril.. • whether there are suff￿le￿I funds". an assessment of the Grant benefft in tem￿ of Ihe"grealest good for the greatest number.; Soci￿con0m1C and other depriv*ion factors in the City of Salford from which the applicgtion derives", whether the stsled alTh￿ of the projects are Susceptible to measurement and evaluation,. the suslainabilty of the Prciecl and whether there is an "exrt. strategy in place from charrtable funding., wherever reasonable Grant Applicants will be required to seKure match funding., the history ol Grant funding from Bwlh Charrt￿S.. the availability of Slalulory and other potential sources of funding,. and whether the application qualrfies for Stalulory funding. INotes:lil Whi151 the criteria are observed throughout the Distributors, decision making, they reserve the right lo exercise dis¢felion on the intrinsic merit of each application, based on judgement having been reached following consideration of all known relevant factors- ncluding the availabilty of funds in relation to committed expenditure- and having taken all reasonable steps to be equitable in their distribution. The Chaity Commission has remirKled CharitEs of the inevtsbilty of further cut8 in public funding and has acknowledged the rok of Charrties in provKling viial services to greater numbers of beneficiaries in the economic climate. The Dislribulors praclise a nonrfliscriminalory polw.) Pre and Post grant monltorlng The Executive.. ascertain that Grants sought fall within the 0￿.ecIS of Distribulton. ensu￿ that 811 relevant infowmalion pertaining to the applulion arKI the Grant sought, is procured. and submilled for consideration by the Dislribulors- induding a report on the percewed sustainability of projects and the financial viabilty of grant application organisations. evaluate the impact arKI achievement of the stated ObjectNes. 18 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Subsequent lo the review of the Grant Distribution Strategy, the Distributors al their 141h October, 2022, meeting, approved and adopted the Granl Distribution Strategy 2023r2026 for implementslion wrth effect from 1￿ April, 2023. Accredlted Grants The concept of 'acc￿ditatIOn. was introduced by the Distributors in 2007 whereby grant recipient organisalions were measured against sel criteria and approved in principle lo submit applications up lo a maximum annual valLte for a three•year period lo fund projects satisfying the Charities, Objects. The model provKled for a'rolling programme" to brirwj on stream"accrediled" recipients at Ihe appropriate juncture in the triennial cycle. The Dislribulors"¥crodited' the foll￿1ng 21 recipient organtsalions for 3 years 202312026.. Organlsatlon Number of beneficlarles who benefltted In the re ortln erlod 200 300 177 A e UK. sa￿ord, Hum Booth Da BASIC Brain and S Centre Brou hlon House Veteran Care Villa Citizens Advice 8ureaux, SaWord The Kin 's Trust, Salford Heritage Project- Bulle Hill Man$ion hre Centre. Lan orth 10 Scheduled for completion December 20241Janua 2025 100 30 Hum Booth Music Bursa - MAPAS Humphrey Booth Resource Centre (Aspire.. For Intelligent Care and Su rtCIC Lledr Hall Outdoor Education Centre Ma nus Mowal Bursa Salford Loaves and Fishes Salford Ci Coll St Ann's Hos ice Lrtlle Hulton The Booth Centre The Fusilier Museum The Low Centre Trust The Salfordian Trust Company Limited, Sawordian Hotel, South The To ether TNSI Hum Waterside Resource Unit Wood Street MissKJn YMCA Manchester 17 30 1.000 439 99 hre Booth Hub, Ordsall 30 30 820 3,050 TOTAL En•ryy Costs In approving and adopting the Grant DistributM￿ Strategy 202Y2026, the Distributors considered the effects malerialising from.. the outcome of the EU referendum {Brexitl the ongoing Coronavirus ICovid-19} Pandem￿.. and the war in Ukraine and the impact on the economic climale In order to assisl accredrted recipient organisalions lo allew.ate the burden rel*ing to the impact of issues around escalating energy costs the DL8lribulors approved, Whe￿ deemed appropriate, additional grant funding payments of £3,000 p.a. for the three years 202312026 to 13 of the 21 recipient organisations. 19 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Chrlstmas Grants 2023 Following a comprehenswe revwi of the Christmas Grants undertaken in August. 2023. al their meeting held on the 13th October, 2023, the Dislribulor5 approved for payment the level of Christmas Grants tolalling £28,820 recommended by the Grants Sub-commrttee. Post meeting one further Christmas grant totalling £500 was approved and ralffied by the DislribLrtors at their 10th November, 2023, Grants Sub-committee meeting. The approved amunl of Christmas Grant payments made totalled £29,3201£28,655 10 30 organisalions plu5 £665 10 43 residents of Humphrey Booth Housing Charity and 2 Booth Benefit recipienlsl- Reports 8fKI photographs from the 30 Organisat￿nS who received a Christmas grant were displayed for the Distributors, infomialion al their 9th February. 2024, meeting. The table below shthvs the breakdv4vn of Ihe 30 Chrislmas grants approved per Ward. the lolal number of beneficiaries and the amount per Ward. Salford Ward8 Number of Chrlstmas Grants erward Tolal Number of Beneficiaries per Ward Amount perward Barton and Wnlon Blacklriars and Trinil Boothstown and Ellenbrook Brou hlon Cadishead and Lower Irlam Claremont Eccle5 her Idam and Peel Green Kersal & Brou hlon Park Little Hutton Ordsall Pendlebu and Clifton Pendleton and Charlestown Qua Swinlon Park Swinlon and Wardl Walkden North Walkden South Weasle and Seedl Worsle and Westwood Park 'Olher 98 £750 30 125 £275 £550 £650 S3 22 81 390 £220 210 719 380 £2,150 £600 Total 30 £28 655 'A total of 5 approved Chrislmas Grants made to OTganisation5 were in the calegory"Othèr" covering more than one Saiford Ward. FINANCIAL RISK MANAGEMENT In considering the Grant Distribution Strategy, aTrJ in respect of legal adv￿ previousty received from the Charities, Solicitors, Leg81 Agreernenls continue to be produced providing for the recovery of monies granted in respect of capital projects in the event that they cease to satisfy the CharrtEs' Ofy'ects. Continuous cash flow forecasting is undertaken lo ensure that any long4erni commitments made by the Distributors can be mel from the income passed by the Tnjstees to the Distributors. 20 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 ACTIVITY DATA GRANT OISTR18UTION - ACTMTY DATA TYPE OF GRANT NUMBER OF GRANTS CONSIDERED NUMBER OF GRANTS APPROVED NUMBER OF GRANTS NOT APPROVED NUMBER OF GRANTS DEFERRED OR WITHDRAWN ACCREDITED GRANTS 21- approved for the p•rlod 1•t Aprll. 2023. to 3151 March, 2026 as shovm In the Financial Statements for the financlal year ended 3111 March. 2023, and 31st March, 2024 ACCREDITED GRANTS ENERGY COSTS 13 13 RESPONSIVE GRANTS 26 GRANTS <£3,000 23 21 TOTAL 73 Thg above data includes the 13 accredrted grant funding energy payments approved by the Distributors as part of the 202312026 Grant Dislnbution Strategy Year 2 funding which was pahd in the financial period 1st April, 2023. 10 3181 March, 2024. to enable organisalions lo ulilise the funding towards their 2023124 winter fuel costs. NUMBER OF GRANTS APPROVED UNDER EACH OBJECT TYPE OF GRANT OBJECT 1 OBJECT 2 OBJECT 3 08JECT 4 OBJECT S ACCREDITED GRANTS ACCREDITED GRANTS ENERGY COSTS RESPONSIVE GRANTS GRANTS <£3,OlXI 13 TOTAL 27 29 14 10 {Note: The breakdown of 8pproved Grants. by Object. is not reCOn￿lable as rt takes into account Grants approved under dual Objects). 21 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR fHE YEAR ENDED 31 MARCH 2024 RESPONSIVE AND CYCUCAL GRANTS IN MEETING THE FIVE OBJECTS OF THE CHARITIES Examples of grants epproved under Objects 1 10 5 are shLy4vn belvw. A full detailed Summary of all grants approved is shown at pages 4345, Note 7 to the Financial Stalemenls. O&JECT l - The relief of the aged, impotent or poor inhabitants including the payment of pensions to and the provision and maintenance of almshouses for poor inhabilants with a prefernnco for such poor Inhabltants who are 51xty year5 of age. Whilst awarding the grants under each of its fve objects of distribution, the Charrties continued lo maintain their focus on the relief, heakh and welfare of the eldedy. A payment was placed lo the credit of the electricity account of each of the approved recipients of Ihe"Boolh Benefrt.. The Charity continued lo assist recipients in claiming their full enIrt￿ment lo Welfare benefrts, thereby maximising their income and improving their financk41 independence. Contact with Saiford aldety was maintained through Aspire.. For Intelligent Care and Support CIC at the Humphrey Booth R¥sour¢e Centre, Age UK. Salford. at the Humphrey Booth Day Cenlre, (Langworthyl. Granl-funded events and the Humphrey Bcolh Housing Charity. (Note.. The provision of almshouses by the Humphrey Booth Housing Charty with a preference for Satrord residents aged sixty years is the subject of a separate Annual Report and Accounlsl. 30 organisalions were recipients of a Christmas Grant plus 43 residents of the Humphrey Booth Housing Charity and 2 recipients of the 8￿th Benefit. The amounl of Christmas grants paid lolalled £29,320 benefitting approximalety 7.3¢XI Salford residents. Grants to organisalions ranged fr(Hn £100 10 £5,500. Examples of organisalions who were wipients of o Ch￿tMaS grant induded.. Humphrey Boolh Day Cenlre, (Age UK) Lansv￿rthY- the Day Centra provides welfare services and support for older people to enable them lo maintsin independence and res￿& in their own homes. (119 recipienlsl. Sl James, Food Pantry - a community pantry where local people are abk to purchase low cost rtems of food three limes a week throughout the year. A free hot meals serwce is also available lo the homeless and vulnerable members of the communty. {12S recipients}. Granville Respite Care Unit- cares for adutts and ehihjren with complex needs and leaming disabilities. {20 recipienlsl. Wood SITeel Mission- the C8ntre helps to alleviate povety by offering assistance through distribution of donated clothing, bedding, baby equipment. books and toys and household items lo families in need. Over Ihe festive period 326 S¥tlord f8milies with 860 children were supported. The Salvation Amiy. Abbott Lodgo- Unit provid&s temporary accommodation and support lo homeless peopte. Over the fe$twe pencil Christmas xl1vit￿ and a meal were prOV￿ed lo 20 reCiP￿nIS al the Cenlre. Salford FoDdbanks- support local people in crisis wrth emergency food supplies. Christmas goody bags were provided lo clients lo alleviate foc¥J povety over the feslwe period. (800 recipienlsl. Salford Loaves and Fishes- a dropin Centre for the vulnerable and homeless people of Saword offering, food, clothing, bathing facilities and access lo GP surgeries, counselling and support and advice. Christmas Festivities included a trip to the Saiford Arts Theatre to see the pantomime Aladdin and a Christmas dinner Served on Christmas Day with quvzzes, bingo and gifts from Sania. 1130 recipienlsl. St Ann's Hospice. Lrttle Hulton- providing specialist and pallkqlive care for S8Word resrdenls suffering from temiinal illness. Over the Christmas period. leslive activi(ie5 included Christmas dinners. gifts for patients. entertainment from a Rock Choir, Young Orchestra and Ihe-knghl up a Lrfe. Christmas service. {310 recipients). 22 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 OBJECT 2- The rellef of dlstress and sickness among the Inhabltants NumberofGrants Approved Amounl of Grant Fundlng Approv Approxlmate number of Salford reclplents benefltlng from the grant funding 11 £186.229 5,053 R•lS¢f of sl¢kne88 BASIC (Brain and Spinal Injury Cenlre}- a specialisl Saiford based Centre focusing on the provision of a variety of high-qualty rehabilitation progiammes for access by people suffering from brain and spinal injuries. Funding towards the feplacemenl of the internal assisted gym equipment. 1100+ recipients). Kid5can Children's CarKer Research Ltd- promotes and supports research into the causes, prevention, treatment and cure of cancer in chihjren. Funding towards salaries and running costs. 155 recipients). Doprlved famllles and Indlvlduals The Mustard Tree- operates lo provide food, cbthing. fumrture and training for indiwduals in need including those exper￿nCIng or al risk ol hc*nelessness, ex-offenders, asylum seekers and Ih08e with mental health issues. Funding towards supporting the Mustsrd Tree f¢)od clubs I￿ated in Little Hullon and Eccks. 11.408 Salford residen15). Vulnerable groupg TLC". Talk, Lislen. Ch8nge- funding towards Ihe continuation of the counselling service lo provide packages of counselling lo Salford fesidents who cate9orise as vulnerable. (10 recipienlsl. Henshaw SOc￿ty lor 81ind People- prowdirvJ support, adv￿ and training lo anyone affect￿ by sight loss and other disabilities. Funding for the wntinualion of salary costs of the Salford based Enablement Officer supporting people wth sight loss lo create a personal plan lo achieve their goals. 1298 recipienlsl. 23 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 AIARCH 2024 OBJECT 3- The provision and support (with the obSect of Improving the conditions of life for the Inhabitan1$ in the interest of social welfare) of facilltles and recreation and other lelsure time occupation. Number of Grants Approved Amount ol Grant Fundlng Approved Approximate number of Salford reclplents benefiting from the grant funding 20 £211.522 19.336 Access Sport CIO - funding towards the creation of an alkwhe81 bike track at Cadishead Par1(, Irlam. 17,000 recipients). Albert's of SaWord- prowding hKJh qualty sporting and accommodation facilities subsidising the youth provision services lor local Salford residents aged 12-25 years of age. Funding lo refurbish the existing all- weather artificial 3G Fwlball Turf Pitch in Albert Park, Broughton, and the reConf￿UraIion and 1ofurbi$hment works lo the adjacenl CommLtnty Pavil￿￿. {1000+ recipienlsl. North West Junior Snooker Academy- providing tsw.ce weekly snooker coaching sessions. Funding towards the cost of transport. aC￿MMOdatIOn and exhibition fees lo lake members of the North Wesl Junior Snooker Academy lo visit Professional Toumaments vyz. the Worhj Championships in Sheffield and UK Championships in Yort(. 117 recipienlsl. Addison Road Allolmenl Association- lunding lo enable a water connection lo the ollolmenls to promde a Water supply within the Addison Road Allolmenl boundanes.124 plot holders plus family mombers and visilorsl. Agnes Hopkins Community Centre- the Centre offers a wami, sefe and fr￿ndlY environrnenl where service users can meet and partake in various aclivrties run al the Cenlre. Funding towards the Centre Manager salary costs. 1500 recipienlsl. 24 THE BOOTH CHARITIES DISTRIBUTORS, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 OBJECT 4- The provision and support of eduutlonal faciliti￿ for the inhabltants Number of Grants Approved Amount of Grant Fundlng Approved Approximate number of Salford reclpients beneflting from the grant funding £280.SOO 677 S8lford City Cdlege- conlinuatk)n of the Humphrey Booth Bursary funding for 16- 19 year old College students in the final ye8r of their studies applying lo University wlh a partiCU￿r focus on widening participation and access for sc*ne of the fflosl Vulnerab￿ Students attending the College. 130 ieeipienlsl. Royal Horticuftural Society, RHS Garden Bridgewaler. SaWord- fvnding towards the Working Wood Project to provide Samord young people not in &Jucalion, employment or training, access lo much needed facilities, support and expertise to learn wc#)dland crafts and skills.1450 recipients). Speech Bubbles CIO - funding towards the delNery of 24 Speech Bubbles sessions for tsyo academlc years in 4 Salford Primary Schools to Key Stage 1 children identif￿d wrth sPe￿h, language and wmmunicalion needs. The sessions provide drama aclivil*s. storytelling and imaginalwe play lo enhance development of cemmunication, confidence and we114)eing. (160 reupients). OBJECT 5- Any other charltsble purpos• Number ofGrants Appmved Amount of Grant Fundlng Approved Approxlmalo number of Salford reclpS•nts banefltlng from the grant fundlng £62,830 1.600 The Broughlon TTusI- providing a wide range of training for indiwduals, Particularly Ihe unemployed and working with groups to provide support, training. aclwtties for IL￿al residents and mentoring for young Salford people. Funding to purchase 10 computers lo replace exisling compLrters al the Cenlre. 11,000 recipienlsl. Because the funding sought andlor albcations granted vary considerabty las belween major and minor values) there are separate procedures for delemiining respeclNe applic8lions. That is to say, all grant applications which satisfy the Ststutory Objects, and are for sums not exceeding £3.000 are submitted for consideration by a Granis Sub£ommrttee constiluted of a croSs-sect￿n of Dk8tributors whose decisions are reported lo the nexi following meeling of Ihe Board of Dislribulors. TERMS OF REFERENCE Constltutlon The Sub-commitiee wnprises Mrs Barbara Grrffin. MBE- Chairnian of the Distributors and C¢>optslNe Distributor Mr P M McNamara- NominalNe Distributor Mrs M-L Walker, JP, DL- C(￿plat￿e DistribLrtor Mr C Wells. DUniv- Nominative Distributor 25 THE BOOTH CHARITIES DISTRIBUTORS. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Chief ExeculNe oificer shall attend SutrTrCommittee Meelings to advise on precedent, confomiity with the Goveming Order, and avaiL8ble monies and may delegate the fUnCt￿n lo the Deputy Chief Executive Officer. A team of any DistribLrtors will interview and visit Grant Arolunts. as appropriate. QUORUM In order to be Quorate. meetings of the sU￿0MMittee wuire iwo members lo be piesenl. BUDGET The Grants SU￿CoMmittee will hold a devo￿8￿ annual budget of £40,0￿ over the Charity's five Objects. Annually, the budget is asSigr￿d in equal parts1£8.000 p.a.) per Object, wrth the facility lo vire behveen budget heods. Annually, a budget statement will be submrtted lo the DiStr￿ul015 in respect of the preceding fin8nci31 year. Maxlmlslng th• Impact of grant dlstrlbutlon To continue to implement the 2023 Triennial Reviaw of t￿ Grant Distribution Strategy 202312026. To continue lo work with Organisat￿5 in receipt of grant fvnding to dolivor the projects lo ensure tha needs of Salford inhabitants continue lo be rr*t. To maintain prudent balanced grant distribution. sensitive to the econc¥nic climate in challenging and changing times and ils effects on the need$ of the inhabitants of the area of benefft. To continue to work Collabor81we￿ wrth Saiford City Counal and key stakehokler8 in the Clty, In meeting the objects of grant distribut￿n. 'Grant-mapping' will continue to be employed as a management lool in P￿nnIng grant dislribLrtion City- wide. To continue lo activety approach Organisalions offering P￿ects of morit to the inhabitonls of Solfor¢J lo invite, a￿1 assist them, in making an ap￿icatiOn for grant funding. Approved by the Distributors and signed on their behalf by.. Mrs Barbara Griffin. MBE Chairman of the Distnbutors 4th September. 2024 26 THE BOOTH CHARITIES STATEMENT OF TRUSTEES, RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 The Trustees are responsible for preparing the Trustees, Annual Report and the financial slalemenls in accordance wbth applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Aceepled Accounting Practice) subject lo any material departures disclosed and explained in the accounts. Charity Law requires the Trustees to prepare separate financial slalements for each financial year, wh￿h give a true and fair view of the slate of affairs of the Charf(ies and of the incoming resources and application of resources of the Charrties for the year. In preparing those financial statements the Trustee5 are required select sUrtab￿ a￿untIng polic*s and then appty them consislenlty: observe the methods and principles in the Charitw SORP,. make judgements and estimates that are reasonable and prudent.. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charities will continue in business. The Trustees are responsible for keeping xcounling records that are suificienl lo show and explain the Charrties, transactions and disclose with reasonab￿ accuracy al any time the financial position of the Charrties and enable them lo ensure that the financial statements compty wrth the Charitie5 Act 2011 and regulations made there under and Ihe provisions of the trust deed. They are also responsible for the safeguarding of the Charities, assets and hence for taking reasonable steps for the prevention and (leteclion of fraud and other irregularit￿. Provlslon of InforniatSon to aud5tor So far as each of the Trustees is &¥are at the time the report approved there is no relevant audit infomwtion of which the Charities, Auditor is unaware and the Truslees have tsken all steps that they ought lo have laken lo make themselves aware of any relevant audi( infofmalion and lo establish that the ALKlitor is aware of that Infom￿110n. 27 THE BOOTH CHARITIES INDEPENDENT REPORT OF THE AUDITOR FOR THE YEAR ENDED 31 MARCH 2024 Opinlon We have audrted the financial slalemenls of The Booth Charities 'the charity. for the year ended 31 March 2024 which comprise the Slalemenl of Financial ActNrties, the BaLgnce Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been appliejj in their preparation is appI￿able law and Unrted Kingdom Accounting Standards. including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (Unrted Kingdom General￿ A￿pted Accounting pract￿). In our opinion, the financial statements.. give a true and fair view of the state of the charty's affairs as al 31 March 2024 and of its incoming resources and applKalion of resources, for the year then ended. have been property prepared in accordance with United Kingdom Generalty Accepled Accounting Practice.. and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with Internat￿nal SlaNlards on audiling IUKI IISAS IUKII and applicable law. Our Tesponsibilrties under those slandards are further desuibed in Ihe Auditor's responsibilities for the audrt of the financial statements secl¢on of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audrt of Ihe financial statements in the UK, including the FRC'S Ethical Standard. and we have fU￿illed our other ethical responsibilities in accordance with these requirements. We believe that the audrt evidence we have obtained is SLrfr￿enI and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements 1$ appTopriale. Based on the work we have perfomed, we have not identrfied any material uncertainties relating lo events or condrtions that, indivhdually or colleclwely, may cast signfficant doubt on the ¢harty's ability to continue as a going concern for a peritxl of al least months from when Ihe financial slalemenls 8re authorised for issue. Our responsibilities and the responsibilrties of the trustees wrth respect lo going coneem are deseribed in the relevant sections of this report. Other Informatlon The other informalKJn comprises the informatton included in the annual report. other than the financial stslements and our auditor's report Ihereon. The trustees are responsible for the other Information. Our opinion on the financial statements does not cover the other infomiatson and. we do not express any form of assurance conclUs￿n thereon. In connection with our audit of the fina￿$81 slalements, our resp)nsibilty is lo read the other inf0m￿tIOn and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the audit or othewAse appears to be m*erialty misstated. If we identify such material inconsistencies or apparent material mis5tatemenls, we are required lo determine whether there is a material misststement in the financial statements or a material mis51atemenl of the other infomiation. If, based on the work we have performed. we conclude that there is a material misstslement of this other infonmation, we are quired to report that f8¢t. We have nothing lo report in this regard. 28 THE BOOTH CHARITIES INDEPENDENT REPORT OF THE AUDITOR FOR THE YEAR ENDED 31 MARCH 2024 Matters on which we are required to report by exceptlon We have nothing lo report in respect of the folk)wing matters in reLalion to which the Charf(ies (Accounts and Reports) Regulations 2008 require us lo report lo you rf, in our opinion.. in the light of the knowledge and understanding of the charty and its environment obtsined in the course of the audit, we have not identified material misslalemenls in the trustees, report.. or proper accounting records have not been kept,. or the financial slalemenls are not in agreement with the accounting records.. or we have not received all the Information and explanations we require for our audit. Responslbllltles of Trustaes As explained more fulty in the slalement of Trustees. Responsibilities in Relation to the Financial Statements sel out on page 27, the trustees are responsible for the preparation of the ffinancial statements and for being satisfied that they give a true and lair view, and fof such internal control as the Iruslees detemiine is necessary lo enable the preparation of financial slalemenls that are free from material m￿StateMent. whether due lo fraud or error. In preparing the financ￿1 stalemenls, the twstees are responsible for assessing the chanty's ability to continue as going concern, disclosing, as applicab￿. matters related to going concem and using the going concern L7asis of accounting unless the Iruslefrs either intend lo liqU￿ale the charity or lo ceaso operations, or have no realistic alternative bul lo do so. Audltor's responslblllt118 for the audlt of th• flnan¢lal statements We have been appointed as auditor under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations M￿le or hawng effect thereunder. Our c*)jectives are lo obtain reasonable assurance about whether the financ￿1 statements as a whok are free from material misstatement, whether due lo fraud or error. and lo issue an aLKIi(orfs report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted In accordance with ISAS IUKI will a￿ayS delect a material missialemenl when it exists. Misslalemenls can arise from fraud or efror and are considered material if, individually or in the aggregate. Ihey could reasonabty be expected lo influence the ttonomic decisions of users taken on the basis of these financial stalements. Irregularf(ies, including fraud, are instances of nonJ108 SOFAI.. Adjusted fr)r.' IGainslIlos￿S on Invaslments assels Oividends, interest and rents fvrmn investrnents Ilncreaselld•creast in debtors Increase in creditors N•t ea•h u••d In op•ratlng a¢tMd•• 6,349 11,8881 16,2191 11,6871 1181 191 1,803 11,6541 36 361 11.3641 11,3421 The notes ¢)n pwJes 34 to 55 fonn an integral part ofthe accounts 33 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 Basis of preparation The finanual stslemenls are presented in £ Sterfing and iouThJed lo the nearest thousand and have been prepared in accordance with Accounting arKI Reporting by Charities". Statement of RerA)mmended Pr8clice pplicable to tharities prepariro their accDunts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffe¢tive 1 January 20191- (Charities SORP IFRS10211, the Finan¢ial Reporting Stsndard applicable in Ihe UK and Republic of Ireland IFRS1021 and the Charibes Act 2011. The finanaal statements incorporate the finanoal impact of the Elderfs and Grandson's Charitses and Distrib￿0[$. Chawilies constitute a put4ic benefft enlity as defi￿ by FRSIO2. The Trustees oflhe Charit￿3 have re¥l￿ed level of investmenls hekj by the Charities. which indL*Jè assets held as part of a long-tem portfol￿) of inveslrnent assets and as mgney morke¢ deposlts wilhin current assets, al the year end. Thè Charities are granl making ch8ritieB and Ihe number and size of grants approved in 8 Particular year would be considered shcwjld there be a redudion on the retum eamed by investm&nts. The Trustees th•relor• w$ider rt ?pprwate lo Wep8￿ the finBnoal slatements on the going CAJncern basis. The key judgements are thw poliues rel*ing lo Granls Payable (Polry 1.4 Expenditure- poinl 2.1} and Flxed Asset In¥eslmtsnts (Policy 1.10). 1.2 Fund• Endowment Fund• In 8vA)rdance with Ihe Booth Charities Order 1985, the Ir￿ne ol the Elderfs Endowments, after payment of CLJsls, charges and expenses, is to be paid to th& Distributors for appli¢alion by Ihèm in a¢¢tsrdan¢e with the furtherance of their objects. The income ol ihe Grandson's Endowments 18 to be applied primarily in or towards thé repair •nd rnaintenan￿ of the Churth ol Saued Trinity, Sallord and, if the Truslees and Distribulors think fit, in augmenting Ihe stipend of the Rector of Ihe said Churd). Any surplus is to b• paid lo the Dislribulors for application by Ih•m in lurtherance of the same objecA6 86 the Elder's Charity Isee Note 18 to the 8e¢oun¢sl. Th• reseThe8 ol the Perynanent ETrJowment fund6 are not aVaila￿e for dislfibutron. D￿Ignated Fund• Extraordlnary Repalr Fund• (see Notts 19 to the arwunlsl These funds were set up under the Charity Commission Sth8me datéd 10 Decembw 1985. Thè Trusteès eated the Extraordinary Repair Fund (Elderfs Charity) fof Ihe Pltrpose of providing for Ihe extraordinary repair, impfovement or ￿buIlding of Ihe property belongiThJ lo Ihe Charity and Ihe Exlraordinary Repair Fund (Grandson's Charity> lor Ihe purpose of providing for the extraordinary ￿paIr. mainlenance and rebuilding of the Soryed Trinty Churth in Sdford. The initial funds were set aside tyjt of un￿$tr#￿ed funds. Discretionary Cap5tal Funds (see Note 20 to the accounts) The Elder's DCF was set up under a Chanty Cornrnission Order daled 30 June 1998 whereby it was dec4ded that there was no longer a requirernent to maintain Ihe previous Insurance Fund (set up in the 1980s to cover the cost of an uninSu￿d daim as the full cost was prohibrtNel as the buiklings had t)tten sold and the Fund should be invested in trust fof the Chanty. The Grandson's DCF was sel up under a Chaiity CommissNJn Order dated 9 September 1999 whereby il was decided thal Ihere was no longer a ￿qu1￿ment to maintain the Grandson's Extraordinary Repair Fund {&el up in 1985 lo provide for the repair of the property cftwneLI by the Chartyl following the dispos￿ ol the propertses owned by the Charity. Income from both these funds is ger*ral inoTh of the Charit*s. The D￿tributts￿, with the prior approval of the Trustees, may at any time apply the caprt81 of the funds for the purposes of the Ch8rities. 34 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.2 Funds {conLI Unrestricted Funds The Unrestrided Funds of Ihe Elderfs, Grandson's aTrJ the Distribut(X5 8re 8vaik8ble for distribution for the objects and policies of the Charities as sel out on page 4, Subject to the Trustees, policy on maintaining reserves lor the day to day running of the CharTties (see Note 2110 Ihe acnjuntsl. 1.3 Income All incLJme is recogniud once the CIWIt￿ have enlthment to the incAyne, it ts probabla that the incA)me will be recewed ar￿ amounl of Ir￿ r•c¢N8ble can be measur&J reliab￿. Interest on fvnd$ held on deposit is indLhled when reckivabbe atwj th• Amount can be measured reliably by the Charitiès,. this 13 normalty upon notification of the Inte￿$1 paMI or payable by the bank. DNidends ar recjjgnised On￿ the dwidend has been dedared and I￿tIfiCatk?n has been received of th& divi(Jends due. 1.4 Expendltur• Cost of ralsing funds This records direct exp•rKlrture on the manag¢rnént of investments, properties and the collection of rento1 and other income. Expe￿1￿￿4 ind(ths cost incurr&J on th* protection of properties. Investment mgno9ernenl expenses are charged ￿￿09$ al fuThts to rwni8e the cost lo both kncoma ond ¢opilal. Cost of charitaw 8clMIE8 Dk81ribulors' gronl8 payable (Keyl Giants payable are payThent$ made to Ihird parties in lh¢ lurtherance ol the Charit￿s. objects. In Ihe case of an uncor)drtK)nal granl offer this is wusd once the recipienl has been notified of the grant awarded. The nolrfulion gives the recipient a reasonable expectation that Ihey will receive the one-year or mtjlti-year grant. Granl awards that are subject to the recipient fulfilling performance conditions are only acuued when the reci￿nt has been notified of the grant and any remaining unfulfAlèd ￿di￿On att*hing to thai granl is outSKle of the o)ntrol of thè Charities, Di$tribulor8. Provisions for granls are made when the intention to make a grant has been cornrnunicated to th$ reupient but the￿ is uncertainty as to Ihe lirning of the grant or the amoLtnt of grant payable. The provision for a MUk￿year granl is recognised at rt5 presenl value where settlemont is due over more Ihan one year from the date of the award. there are no unfulfillèd performance conditions under the control of the Charities, DisIributo￿ that would permit the Charities, 0i5tribLrtors lo avoid making thtr future paym￿(s}. seluemenl is probable and the effect of discountiro is rnaler￿. Distributovs. support costs Support costs are set out in the notes to Ihe acc))untS 8nd are 3lk)caled against each of the Charities, objed5 pTrrata lo value. 2.3 Tvu5tees' govemance costs Governan￿ costs a￿ set c4rt in the notes to Ihe acrA)unts and a￿ incurred by the Trustees of Humphrey Booth the Elder's and Grandson's Charities in managitYJ investment and property assets and are not alk￿ted agairhst the Charities, objects. 35 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.5 Di8tributor8' pemlan costs Contributions lo personal Fension pLAns NEST thiwgh aulo enrolment are made in respect of eligible employees and these are charged to the Statement of FrnaThial AdNilies as lntyJ￿ed. 1.6 Capitali8ation polley All additions to fi￿￿ a38ets costing more than £1.(K¥J a￿ indth 81 c4s1. 1.7 VAT Tr?nsadion8 are gross of any irrecoverable VAT. 1.8 Taxatlon The Trustees ¢on8ider thal requiiem8nls for the exemptk)n from tax*1￿ sei out in Ihe Income Ta¥ Act 2￿7. Corporation Tax Acl 2010 and Section 256 ofth* Taxation of Chargeable Gains Ad 1992 are met and. therefore. no prOvisv￿ 13 made for taxatb)n. 1.9 Fln•n¢lal In•truments The Charities On￿ have financ¢al assels and finar#ial li?￿.1rtleS ol a kil￿ that qualify as basic finanaal instrumenta. 888ic fmancial instwm*nts are inilialty rwnisthj at transaclion value and subsequ8ntly measured at their strttlement V￿Ue. 1.10 Flxed •••et Inv••tm•nts IK•yl Investments a￿ a forn ol bast finanrial ￿slI￿nt ar¥J 8f8 Initialty r•cJ)gnised al their transaction valu& and subsequently measured at their lair value as al th¥ balar￿e Sheet date using the ckjsing quoted market bid ce. The statemenl of financial actwrt￿s Ir￿Ud¢S Ihe nel 9ains and losses arising on ravalu8lion and dispo￿lS Ihrou9hout the year. mgin lom) of finarKi81 wisk tsced by Ihe charl1￿$ is that of volatility in aquty mo￿¢￿ and inve8lrnenl rnarkels dve lo widef econom￿ conditions, the attitude ol inve3trys to inve5tmenl risk, and changes in sentiment cotKamin9 8qUit*s and wilhin partioJLgr Sectors or wb Sectors. Investmènt propértlès are held for inveslment purposes and the￿fOre no PTOViSkJn has been made for d¢precialion. These properties are included at their most recent valuation (see Note 131. All realised and uni•alised gains ar￿1055e5 are combined in the Statement of Finanu81 Actwities and are taken 0$ they arise. Reali5ed gains and h)sses on investments are cakulated as the drfference be￿een $al8 proceeds and their opening Car￿ng valu¢ Or Iheir purchase value if 8o]uired subsequent to the firsl day of the financial yeai. Unrealised gaFns and bsses are calcukted as the d$ffe￿￿e beh¥een the fair value at the year end and the¢r carTriNJ vakje. 1.11 Investment propertles The Trustees undertake an ￿n￿￿1 revw of the value of investment properbes, referenang inlomation published by the Royal InstitvlH)n of Chartered SuNeyotsl Royal Agncuftural University. Rural Land Market Survey. and Savills, Market Survey UK Agr￿ltural Land. whith they rAJn5idev 8ppropn8te lor the Charrties. propety portfolio. Any impaimient or dirninution or any other svjnificant thange in value is recorded as an unrealised gain or loss. A formal valuatiC￿ is carl￿￿ ¢JJt every 5 years by the Charities. property managers. Investment properlie5 are carr￿d al fair value. 36 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.12 Dèbtors Trade and other debtors are reojgnised at the settlement amounl due after any trade discount offered. Prepayments are valued at Ihe amount prepaid net of any tradè dis(xxJnl$ d￿. A provisw)n for bad and doubrful debls relating to iental arrears is made on an estimation of those speafic debts at the statement of financial posrtion date whith are considered to be polentialty irrecoverable. 1.13 Current Jsset Inve8tment• Current 855el investments ndud8 ￿$h end cash equpialents invested #hort t8rn basis with a maturty of hyelve months or less from the dale of acquisition. They are recognised inrt¢ally at cost and subsequently at m8rket value at the reporting dale. Any in Va￿￿"0n btrtsveen r¢poth'ng d81e$ 1$ re¢ogni$¢ 29,320 Total to InS￿lutIonS 29,320 Object 2- Rellef of d1str•￿ and •lcknu• Salford City Counril Kidscan 57,000 30,000 Thè Musiard Tr88 25,907 Hertsha￿ Soriety for Blind People BASIC18rain and Spinal Injury Céntre Age UK Saword Lil• Cenlre Salford 24,459 20,000 11,500 9,763 s,ocK) 1.500 Salford Cerernonial Mayorfs Charity Appe812023124 TLC." Talk, Listen, CharvJe Saword Prostate Cancer Support Salford Prosiate Cancer Support 600 500 Total to InstltLrtlon8 186,229 43 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charitsble Grants expendlture ' Sing￿ proiects grènl funded over dual otpcts 2024 Object 3- Recreatson and Lel¥ure AcLess Swrt CIO 40,000 The Ability Co-operatwe Limrted. Prir￿S Path Garden Centre. Ilrfaml Tho Ability CLweratNe Limrted. Princes Pa￿ G•rdEn Centr¢. Ilrt8ml Albert's of Sallord 21.328 •* 17,500 38.828 30,000 Agnes Hopkin$ Community Cent 25,000 S8lfor¢l Youth Zone 25,000 Roe Green Tenn18 Club 20.000 Life Centre S8lford 9.763 SaNord Ceremonlal Mayorf$ CharityAppoal 202Y24 Boothstown 80th.ry Club and PJw&'on s,000 3,CA)O Walkden ABC (Amateur 80￿r￿ CIL*I 2,965 PLtre Oance Workz. Pum Poison. Senior 08nc* T• 2,000 Moor L•rn Yguth Club 2,000 Chando$ 9th￿Ing aub 1,431 Addison Road Albtrnent Assoo8th?n 1,207 North We8t Junior SnookerAcad¢my Beech Court T•n8nt# and Re8KJents' A88ticiation 1,000 1,000 The Together Trust, The Hub, Humphrey Booth Cèn1￿. t>dsall Botton Road Lad￿ 8th￿ing Club 960 7￿) Kings Square Library 750 Borton Road Veterans Club 468 HeKJht Vete¥3n¥ BovAing Club 450 Total to Instltutlons 211,522 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charltsble Grants ewndlture ' single projects grant funded overdual objects 2024 Object 4- Educatlonal facllltles Royal Horticuttural Soaety, RHS Garden BrKlgewater, Saword Salford City Col*- Humphrey Booth Bursary Stheme Speech Bubbles CIO Samord Ceremonial Mayorfs Charbty Appeal 2023r24 ChalSWOrth Futures Specaali5t Col*ge North West Junior Snooker A￿erny K1ws Square Library 150,000 90,000 30,750 5,000 750 Total to Instltutlons 280,500 Oblert 5-other The Abilily cr￿￿ra1$ve Limited. Princes Pwk Garden Centre. Ildaml The Ability ColloperatNe Limited, Princes Pwk Gjthn C*nlre, Ilt184nl Age UK Sallord The Broughton Trust Salford Amied Forc48 21,328 17,500 38,828 11,500 8,702 3,000 500 Andanle ChoSr Nurnber 4 Kore8 Company. Greater Manthester Am7y Cadels rhe Manchester ￿ni￿r51¢Y Guikj ol Change Ringers 200 100 Total to Instltutlons 62.830 Total grants to Indlvlduals Total grants to Instltutlons Total grants by D15trlbutors 1.355 770,401 771,756 Charltsble grant by Humphrey Booth the Grandson 50°k of cnst ol strpend of Sacred Trinty Church Sacred Trinrty Churd) ¥epaiis Insurance of Sacred Twinrty Church Total grants by Hurnphr•y Booth the Grandson 18,072 3,709 21,781 Tatal grants by Di¥tributorn & Humphrey Booth the Grandson 793.537 45 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charllable Grants expendltur• 2024 3. Grants under4lalm8d. refunded or amendtd regarding prevlous years This relates to grants previousty pr(wKled for but vthich have been under- daimed, refunded or amended ToLIl Grnnts urtd¥r-clolmed, refunded or •mended 11.056 4. Grnnts to Connected Chartioble Organlgatlon$ 2024 2023 anl ￿ nlD nln Age UK. Salford IMr5 B Grffin, MBEI Chandos 8owling Club Imrs M-L Walker. JP. DLI Heighl Veterans BovAing Club (Mr P M McNamar¥l The Salfordian Trust Co. Ltd. ICoun¢illor D A Lancaster. MBE, (The Samordian Holell Counullor J Mullen) The Salfordian Tiusl Co. Ltd. (Councillor D A Lancasler, MBEI (The Salfordian Holell YMCA Manchester (Coundlor G R8ynokI81 23.000 1,431 450 84.000 39,000 32,974 30.000 Trnn¥lgr• belween funds lThcome from Invo$lmenls 01£158.$9812023 £187,37n was transferred durtng lh• year Irom the D18crellongry Caphal Funds to the Unreslricted Funds ol the Charities in accordance wlh th• Stslutory Instmmenl and th* Charity Commission Orders dated 30 June 1998 and 9" S$plomber 1999. The abov• transfers are reflecled In Ihè tr•n$fer Irom Designated Funa$ lo unrestr￿t￿ Fund& In the St8t8m•nl ol Flnancial AdvAles on p8g¢ 31 of the accounts. R?latgd party tran8aetlon• The governing documenl is the Booth Charit*8 Order 1985. This document also governs The Humphrey Booth Housing Charity. The Dislribulors administer and manage thè Humphrey Boolh Housing Charty, of which they are the Truslees. The amount owed by the Hwnphrey Boolh Housing Charity at 31 March. 2024 was £29,28712023 £31,510). The amount of management charges in respecl of salaries charged to Ihe Humphrey Boolh Housing Charity by Ihe Dislributors vrds £150,74612023 £149,608). The amounl of service level cost5 ch8r9ed from the Humphrey Boolh Housing Charttywas £31,48412023 £29,094). There were no r•lated patylransaclions wilh the Trustees during Ihe year. othèr than the honorarivm pald to the Ch8lm8n of the Trustees (see Not¢ 111. 10. Audltor8 Remunèrntlon 2024 £000 2023 £000 Audit seNce8 Irel ofvatl Other 8s¥urance sewvices 14 f3 Total 16 14 46 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Distributors. staff costs, Trustse r•muMrdtlon and trustee expens 2024 Éooo 2023 £000 Salaries Social Security costs Pension costs 133 11 131 151 150 Th& above figures represenl 50% of the lull salary costs of the Distributors. The Chief Executive Officer and all stsff are joinlty employed by the Distributors of ihe Booth Charities and the Humphrey Booth Housing Charity. SO% ol salaries are recharged lo Ihe Humphrey Booth Housing Charity as management lees to reflect the time spenl on its activi1￿. The number ol staff whose remuneration exceeded £60.000 was 1 12023- 11 wilhin Ihe band £70,001- £80,000. The total annual salary paid to Ihe Chief Executive Offic£rlHousing Mana9er auoss thè Charillès exduding personal pension conlributions was £78.68212023 £74.2281. The lolal number ol staff ernployed during the year was 912023- 91. feduring lo 8 with effecl fvom Novèmber 2023, wilh all employee lime involved in pro*iding either support lo the govemance ol the Charity or svpport services to charitable activities. The average nLtmber of staff èmployed during the period was 912023- 91. The average numbor of full tlme oquival8nt employees during the year based on a 35 hour week was 3.212023- 3.51. The Chartty contributes up to 6% of staff salaries matched to employee conlributions lo P8rsonal Penslon Plans and NEST Ihiough auto enrolment. Pension cosls in respect ol lh¥ personal pension arrangements ol employees was £7,39)12023 £7.7401. The 6°h per50n81 pension contributions in respect of Ihe Chief Executive OfficErHousing Manager across Ihe Charities was £4,72112023 £4.4541. The Chief Executive Officermousing Manager is an ordinary member of Ihe pension scheme. There is no individual penslon arrangement for the Chief Executive 0ff￿erlH0usIng Manager lo which the Charrty contributes. and no enhanced or speual lerms appty lo Ihe Chiel Executive OfficerNousing Managerfs pension. Followlng approval by Ihe Charity Commissioners. Ihe Chainnan of Ihe Twstèes, Mr W T Whittle received an honorarium of £25,000 {2023 £16.667), for serwce5 lo the Chariligs. No other Trustee or Distributor received any remuneralion. Truslee Iravelling expenses were £245 paid to 2 TnJslees12023 £3131. The key management personnel of the Chariiies comprise the Truslees, DistribLrtors, ihe Chief Executive Officer, Oepuly Chief Executive and Accounlanl. The 10181 remuneralion, pension costs and honorarium of the key rnanagernènt personnél of the Charities was £123,02912023 £109.4801. Arrnng•ments for setting pay and remuneration of the key managèmént personnel ofthe Charlty The Distributors are voluntary and nol remunerated. Travel expenses paid during the year to TrUStees￿lstribUioTs are shown above. Annvally, the Budget fo¥ the ensuing year, incjuding salary costs is considered by the Distributors at their Febnjary meeting. The Budgeted salary cost takes accounl of Ihe RPI contractual Annual R8vièw. The Distributors annu31ty rèmew pay and remunèration of all slaff. A salary increase was awarded undèr the contractual Annual Rewew. The Charity is a Living Wage Empk*yer. 47 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12a. Analysls of net assets by fund Unrestricted Deslgn3t De51gnated Perrnanent Funds Dlscretlonary Exttaordlnary Endowment C¥pltal Funds Repalr Funds FundB 2024 Total Funds £0 2023 Total Funds Investment prope￿e6 Investments Fund manager deposits Totol fixed assets 22,602 17,176 320 22.602 29,460 385 52,447 19.465 25.591 1.463 46.519 4,188 27 8,123 4,228 Debtors Intr8 fund 8¢c¢Junt$ C8sh Current assets 352 1811 3,592 10 67 {191 3,592 3,961 2,998 3,349 (121 Current liabil￿e$ 11,16n 19) {5} 1211 11,2021 17331 'abilth'es > 1 year 13141 13141 15921 Totsl nat a8•9ts 2.382 8,191 4,209 40,110 $4.892 48,543 Analysis olnet 8ssets by fund for 2023 01£48,543 is UnreslriGled Funds £2.073. D￿tIOnary Capit81 Funds E7,20& Extre￿nary R8pairFunds £3.695, Pem?an8nl EnLtJwment Funds £35,570 12b. Analy•l• of Mt •B••ts by chartty 2024 To¢al Èooo 2023 Total £000 Elderfs £000 Gr¥nd8on'• OlstrtbutOY8 Adlustments £000 Éooo Inveslrnenl properties Investments Fund rnanager deposits Total fixed assets 22,6C(g 24.911 302 47,813 22,602 29.460 385 62,447 19,465 25,591 1.463 46.519 Oebtors Cash Current assets 141 369 3,592 3,961 351 2.998 3,349 119 124 1.851 1.681 2.160 141 Current liabilities 14111 17881 {1,202} (7331 Liabilitses > 1 year 13141 13141 15921 Total net assets 49 Analysis olnet assets bychorilyfw 2023 of£48.5431 is Elderfs £43. 774 GrandS￿S £4,21& ￿S￿¥but￿rS £ 48 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 W4RCH 2024 13. Investment propertl8s Permanent Endovfftent Fund Elderfs Grandson's £000 £000 Total £000 Balance at l April 2023 Revaluation of propety Acquisition of propety Disposal of property 19.463 3,137 19,465 3,137 B•lan￿ as •t 31 March 2024 22.600 22,602 Agricultural propety Inv&siments were valued on 31 March. 2024 by the respectfve propety monog*ment agents, btring John Forrester Charte￿d SuNeyors and Lana Agents 8nd Brown Rurnl Partnership on a market value ba813 in 8ccordBnce wth guidelines Issued by the Royal Inslitubon of Chartered Surveyors. Propertles owned and used for charitable purpose8 whbch are supported by the Booth Chanties and a central Manchesler freehold property were valued by Fisher German on a market value basis in accordance whh guldelines Issued by the R¢)yal Institution of Chartered Surveyors 31 March, 2024. A ¢ommer¢lal prop$rty wa8 valued on 31 March. 2024 by Legat Lknn Ltd. propety 8g•nl, on 8 market value basls In accordance Vthh gui(Jeline8 issued by the Royal Institulion ol Charlered Sutveyors and have referenced recent market industry publications to support thls. The commercial propety has full owJpancy and the rental income stream has been maintained and the memb•rs of thè Flnanc• & InV•S￿ent and Property groups ¥re constantty monitoring Ihe silu8ti0n. Trustees fomalty révalue the income genernting prO￿ty investments every 5 year$ and assess the value on an annual basts. The cost of revaluing non income and low income generating assets is such that Trustees eAJnsider no useful purpose Is setved by frequent revalua1￿$ and wll, therefore, cary out a reassessmtnl only ¥then a lease is wthin 30 yèars of its expiry date. 49 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2024 14. Investments Unrestrlcttd- Pennanent De8ignat•d Endo￿nent Funds Funds £000 2014 Unrestncted- Pernanent Total DeswJnated End0%￿eThI Fund8 Funds Funds £000 2023 Total Funds £000 Market value at 1 April 2023 Additions 10.756 14.835 25,591 4.871 5.458 {3.9141 14.5461 11.397 1,889 11,8021 16.015 27,412 4,119 $87 2.230 {2,6901 14,4921 Disp05818 al market value 16321 Nel unrealised inve51menl gains 1,S72 1,385 2.957 (7281 {7201 {1,4481 Market value al 31 March 2024 12,283 17,177 29.460 10,756 14,835 25,591 Th• Inv•8trYwnts comprfsfr: UK equities Non U.K. equttles U.K. Govemmenl securtties 1.961 4,121 2,424 8,120 522 4,386 10.241 4,071 2,185 769 5.880 5,399 769 3,214 133 Other fixed inleiest 1.077 917 2,103 USA Government securities Tracker funds Open Endgd Investment Companies 176 361 637 159 446 4,717 5,882 10.S99 4,561 6,178 10.739 Total market value of investrnents 12,283 17,177 29,460 10,756 14,835 25,591 Market value of inveslrnents greater than 3% of lothl investnwts Unrn8trfet•d- P•rnianent D•8lgnated Endowment Fund• Fund8 £000 £000 2024 UnMstrict&> Permanent Totsl Dtrsign8led Endowment Fund• Funds Furtds £000 £LKJo £000 2023 Totsl Funds £000 JP Morgan Schroders 378 719 1.097 981 901 1,254 933 451 530 493 All investmènts are carried at Iheir fair walue. Investment in equiiies and fixed inlerest securities are all traded in quoted public markets, primarity the London Stock Exchange. Holdings in common inve51menl funds, unit trusts and open*nded investmenl companies are valued at the bid price. The basis of fair Wdlue for quoted investments is equivalent lo Ihe market value, using the bid price. Asset sales and purchases are recogni5ed al the date of trade at eosl {Ihat is their transath.on value). 50 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15a. Current assets - debtors by fund Unrtstrleted D￿Ignated Designat￿ P¢￿anent Funds Dl8cretionary Extraordinary Endowment C•plt•l Funds Rep•lr Funds Fund8 £000 2024 2023 Total Funds £000 Total Funds £cx)o Rent debtors ' Amount owed tr)Ilrorn Group funds 256 256 250 {81) 87 (191 A¢crued in¢om& 49 10 66 Other debtors 47 47 49 Total debtorn 271 77 1121 369 351 An8tysts of¢unent 88sets by lund for2023 01£351 ' Unreslricted Funds £368, D￿c￿tiOnary CW81 Fimds £59, Extr8othn8ry Rap8irFtsnds £(26) P8M￿n￿nI Endowmpnt FuTrls 15b. Curr•nt awt•- d•btor• by ch*rfty 2024 Totsl £000 2023 Total £000 Elderf• Grnnd8on'• Dlstrfbutors £000 £000 £000 Rent debtors. 256 61 17 250 52 49 Accrued income Other debtors 66 47 Total debtors 334 30 369 351 Rent debtor8 indLMJe £14,155 held on behall of tenants relatirrfJ to Servi￿ charges Analysis ofcuffenl assets by ch81ity for2023 01£351 Elderfs £314, Grandson's £5. Distlibuto￿ £32 51 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16a. Llabllltles by lund Unrestrleted Deslgnat•d Deslgnated Permanent Funds Dl6cretionary EXtra0￿1nary endowment Caphal Funds Repalr Funds Fund8 £000 £000 2024 ToLIl Funds 2023 Total Fund8 £000 £000 L¥¥¥ thon l year Prepaid rental income Accrua13 283 283 298 129 128 21 163 Grant8 committed 758 756 306 1,167 21 1.202 733 Mor• thon 1 y••r Grants ¢ommrtted Total llablll￿•8 314 314 592 21 1,S16 1,325 Analysis of liabilities by lund for 2023 of£l.325 is Unrestricted Funds £7,293, Discfftfvon8ry C8pttJl Funds £8, Extraordinary Rep8irFunds £4 Pem?8nentEndowmenft Funds £20 16b. Llabllltle• by charfty Elderfs <1year £000 Grandson'• <1yg•r D18t￿bUt0￿ Dl8trSbutor• <1y¢ar >1yeJr £000 £000 2024 Total £000 2023 Tolal £000 Prepaid rental income Accru81s Amounts owed Io group ¢h8ritre3 Grants committed 283 283 298 128 23 12 163 129 14} 756 314 1,070 1,516 898 407 768 1,325 Prepaid renlal income indudes £6S,138 of renl deposits h￿d on behalfof tenants An8lysis of current assets by charity for 2023 of£1.325 is Ethfs £397, Gr8ndsons £27. t)￿Rnbul0￿ 1ye8r£592 52 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Summary of funds Tr•thsfer b&lween Not Unrestrlcted Inv•itmènt Funds Gains £000 £000 Balance at 1 April 2023 £000 Balancè at 31 March 2024 £000 Income Expenditure £000 Eld$es charity Grandson's eJ)arity Dislribulors 43,778 4.215 550 1,641 97 1623) 158) 1959} 1900) 148) 49,562 4,731 699 525 32 28 1,770 {1,640} 6,219 54,892 18. Rostrlctsd porn)an•nt •ndowm•nt fvnd• The Charttles IBoolh Charit￿$) Ord81 1985 carr* into effect on 24 December 1985. For the purposes of preparation of the accounts for the year ended 31 March, 1986 in accordance with the new schome, il was assumed thal the accumulated sU￿lUse$ at 31 March, 1986 were represented by the currenl assets less ¢urrenl liabilities at that clate and thal Ihe Pemianènt Endowment was reprèsènle¢J by the inve51menls and propety at that date. Sacbon 33 01 Ihts new scheme requires that the nel proceeds of any sale ol any property or investments held by the Charities afe reinvested and such transactions are shown as movements on the Permanenl Endowment Fund and not accounted for in Ihe income and expenditure account. In the year to 31 March 2024 these lunds generated investment income of £342,297 and property rental income of £1,024.540 which was 811oc8ted to the Unreslricted Funds under the terms of the Booth Charities Order 1985. Trdn8f•r between Net Unrestricted Investment Funds Gains £000 £000 Balance at 1 Aprll 2023 £000 Balance at 31 March 2024 £000 Income Expenditure £000 £000 Elde¢s permanenl endowment Grandson's pemianenl endowmènt 33,370 (351 4,435 37,770 2,2CKI 151 145 35,570 4,580 40,110 53 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. D8slgnat•d extraordlnary repalr fund5 The Charrties (Booth charit￿$) Order 1985 requir&J the estauishment and rnaintenan￿ of a fund to ba entilted the Eklerfs Charity Extraordinary Repair Fund for Ihe purpose of prowding for th8 extraordinary repair, irnprovement or rebuikling of the property belongiThJ to Ihe Ekyerfs Charity. The Order 8L80 provKSed for the establishment and maintenance of the Grandson s Charity Eytraordinary Repair Fund for the purpose ol providing for the extraordinary repair. rnaintenan￿ and rebuilding of the Chur£* of the Sacmd Trinity. Sallord and the fitting. ￿rTh1ture and omaments therein. Transfer betweon Ngt B¥hnc¢ at Unrestrlct•d Inv•stment 31 March Funds Gain8 2024 £000 £000 Balan at 1 Apdl 2023 £000 Income Expendlture £000 £000 £000 Elderfs extr8ordin8ry rapalr fund 3,592 1184} 602 4,098 Grandson'g extraordinary repair fund 103 113 3.695 11841 608 4,209 20. D•slgnot¢d dlJcretlon¥ry upSt•l fund• A Discretionary Capilal Fund has bt•n èstablished for both the Elderfs and Grandson's Charities. The incorna ol th8se lunds Is general inccm• and th8 Distributors. ￿th th? pnor ¥pprov¥I ol tho Tru$lo9$, may at any11rno apply the capil81 of these funds for the purposas of Charibes. Tran8f•r betwe•n N•t Balance al Unwtrtcted Investment 31 March Fund• G•ln• 2024 £000 £000 £000 B*l#ne• at 1 Aprfl 2023 tooo In¢om• Exp•ndltur• £000 £000 Eldees dk8cretK)nary caprtal fund (13) 11191 629 6,984 Grandson's discrebonary capital fund 1,837 141 1401 374 2,207 7,205 169 {1591 1,003 8,191 21. Unregtrlct•d lund• The Unrestricted Funds ol thè EJderf8, GraTrJson's aThJ Oistn'bvtors a￿ available fordistribution for the objects nd poliaes ol the Charty subject to the Tru3tees' poli￿ on maintaining ￿erVeS for the day lo day running of the Charities. The Trustees madts a tran51er 01£948.1)CQ lo the D￿tn'bUt01S from th¢ Elder's and Grand50n 8 CharIt￿S for grant makiry actiwbes. Tran*f•r Tr4nsl6r Balance at 1 Aprll 2023 £000 Net Balance at Duignated Unrestricted Invg•tment 31 March Funds Funds Galns 2024 £000 £000 £000 £000 Incom¢ Exr*nditure £000 £000 Ehlerfs charity Grandsons tharity Distributors 1.436 (3911 1,712 75 1491 1481 71 550 19591 11,3991 28 599 2,073 1,521 1S9 2,382 THE BOOTH CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2024 22. Capltsl eommltm•nts The Wdlu8 of captsl expenditure contracteLI lor bLrt not Pfomded for at the y•ar4nd £nil.12023-£nill. 23. Contlng•nt Ilabllltl•# The￿ I%e￿ no contingent I*￿"1￿"88 at the year4ThJ.1202&£nill. Comparatbve Statement of fbnanclal acllvltk• - 2023 D••lgn•t•d 0•$1oiw•d P•mianont Unrostrlctad Dlscretlonary Extrnordlnary EThJovnnent FuThJs Capltsl Fund8 Repalr Funds Fund* £000 2023 Fund• Totsl £000 In¢om• from: In￿$trn¢nts 1,400 70 167 87 1,664 70 Oth•r Total Ineom• 1,470 167 87 1,724 Expèndltura on- Raising funds Charitablt aclivitK*$ 16 116 37 613 1,196 1,809 1.196 To¢•1 •xpondltur• 16 116 37 N•1 galns on Investment awt• {3761 19381 11,8031 N•t Incornollexpendltur•l Transfers beNveen funds 12131 167 (2251 11671 13921 7,597 7,205 14751 19751 11,8881 N•t movoffl•nt of fund¥ Fund balances bfought foThvard Fund balan¢M c•rrf•d forward 1461 2.119 2,073 147SI 4.170 3.695 19761 36,$45 35,S70 11,8881 50,431 48,643 55