RF.c.IsfERED CHARITY NUMRER: ?a4909 Reporl ofthe Truslees and Unaudited Fith*ttei*l Stsiernents rnr the Year Ended 31 Mareh 2024 fo 'rhe Chxrlotte Broadwo(Ml Trust BulliTnofLS I.LP c.hartered Accolmthnts C)Id Print¥TS Yard 156 Souili Streel t)OTkinc¥ Surtev R114 ?IIF "lkne Charlotte Brogdwood Trust Cun¢ents of the Fillantial Stalernents ror tbt Year Ended 31 Mar¢h 2024 P•%e Repurt ufthe Trusttts Ind¢peDdent ExAmin¢rf$ Reporl t#tement nf FIAanelal A¢tivili¢s B•l8nce Shttt 7 to 8 Nol¢s lo th¢ Financial St*lemeDts 9 10 14 Deiailed ¢>txt¢rneAt of Financl*l A¢iiwlii The ChaTknlte Broadwnod Trust Report of Ihe Tntstces ror the Year EAded 31 March 2024 I'lie irnSiLes prLscni IhLir r¢porf ￿'1th the fmancial staicments (bf the charity for ihc yedr ended i l March 2024. 'fhe (tu￿ceS havL adnptcd ihe pravisiolls of Acc4wnling Rewning by Chariiies. s￿￿'￿ent of RKoinineiided PrdLLice applicable to cl)arities preparing ihLtr accovnis in accordallC¢ With thc Fitjancial Reporting SlandaTd applicable in the UK and Republic of irL,land (FRS 102) (effe¢tive l January ?019}. OKIECTIVES AND ACTIVITIES Objectii'es ¥itn5 The object o(tl)e Trusl continues io hc th¢ provision and mainterwice of hurnes tor old people rL*idin&y in Capel and the neighbourhood who arL' (jfiirnited means and need affurdablL acLomm¢JJaiion. Public benefil The trustee5 confm they liav¢ r¢ferrcd to ihe guidance in rtbe Charity Commission's general guidanLL (Trn public b¢nefit wlien reviLwing thc charilv'% aims and objectives. ACIIIEVbM&:N'I' AND PF.RFORMANCE Review of Activiiics Oiie of the flais wds rLfurhish¢d during the fmancial ycar, following the death of ihr previous re5idenr, The Tefurbishmeni was LaTnplet¢d and a new r¢sident i(M)k up oLcuWion during ihe year. fulli)winbk the rtfurbisfvneni and a shon PLTI()d nf va¢anc)'. The tnLStees, who in ihL' past. commissioned a full stnjctural surveyor on ihe condiiii)n nf Ihe flats, have continued i(Tr dcal w'iih wiirks recommended uThler lh& rerMJrt. During the year LhLre were no signific prcpaT¢ financial statement5 for each fiJian¢ial year wliich give a tru¢ and fair viLw of ihL %LaiL' nl- aifairs ol. Ihe charity aiid of ihc incoming rL'¥our¢es and applicaiiuri uf resuurcLS, LIILludinL' thL income and eApendirure. of ihe charil). for that period. In preparing tliose linancial 51atements, the nwsiees are required to select suitable accounlinb policies and then apply them consisicnilj: observe the methods and principlcs in thc Charity. SORP: dke.judgrThent5 and estiznat¢s ihat are rras￿lable and prndeni- prepare the fiTrarLcial *at¢]￿ents on Ihe goiiig Loncem b&%i% it is inappropriaie io pre5umc that thL chLtrity will conrinue in busiii¢ss. The trusieL'S arc ￿SpUn51b1C for keeping propcr accoun(ir]g trcotd5 which disLIusL wilh reasonable accurdcy at any tirnL the linancial pnsition of the ckn￿lty and ¢0 enablc ihem (o cnsurL that ihe tinancial Maternents comply with (he Chariiie5 Aci 2011, th¢ Charity {Accounts and Retx>rts) Rc¥uldlion* ?(XTr8 and ihe provisions of IhL' Iru5t deed. They are also iespon5ible foi 5afeBuard>ng LhL of the chariry, and heiice for takiji? riasondhl¢ slep5 for ilie prevenlioii and dLIcLtion nl- trdud and ather irregulariiie5. The Charlotte Broadwood Trust Keport Df Ibe Trustets fur the year F.nded 31 Ma￿h 2024 Approved b> order of the board of irustee5 on .......... .. . . and signed on its I￿halF by.. D Goodall J.P. - Trustee Indepe￿dent Examiner's Report lo the Trthsttts ur The Ch#¥loiie Br￿a￿￿'￿)d Trust Independent tXk)miThtr'$ rtport to the tryste¢s of Tbe Charlotic Broadwood Trnst I repon io the charity ttusiees on my exatninalion orth¥ &£ouThts ofTr Charlotte BroadwiMMI Trn81 {Ihe Tnju) for the year ended 31 fvlarch 2U24_ RestMynsibilitie$ And ba$1$ of report As the charity trustets of thL Ttvst YOU ie5pon5ibk for ihe prepardiion of the accounts in accordance witli ihe rc4uirernents of the Charities Ad 2011 {Ihe Aci). I report in rcspect of my exarninaiion of the Tn￿￿.$ accounts CarriL￿ OUL under Section 14$ of the Act and in carying out my examination I have followed all applicahlL Dircctions given by the Charity Commission tjndcr Section 145(5)Ibl or lh¥ Aci. Independent examiner's statement I ha¥¢ compleied my examination. l ¢onfwm th￿ no Inaierial mauer% havL" come to ]ny altention in connection wilh LhL examinaiion giving ￿use ro believc lh& in ilnv Tlldlerial respect= ccountinLr records were nor kew iii respeci of (he TnL%I rcquircd by Section 130 of the Act: or the accountb do not acLvrd with thii%c records. or Ihc aLcounL% do nol c(Trmply' ￿'(tIl Ihe appliL41ble requirem¢nls ¢onccrnin&v the torn) and conient of accounts scl Dui in th¢ Charitics {Accounts and ReFM)rtsl Kcgulaliuns ?(M)11 other than any requirement that the accounts giwe a ttwe and fair vi¢w which 1$ not a malt¢i LI)ns￿ered as of an independent examinaiior¢. I have no con¢erns tind have Come across no i>ihLr mdilL Th Iri connection wirh ihe examinaiion to whiih 8lt¢nlion should ix drawn in Ihi5 report in ordLr (u LS1iible a priTrper understanding of the accounts io tK' reaLhed. Nichol s Buot FCA Bullimores LLP Lhurtered Accounlanls Old Printers Y11 rd 156 SI￿1h StT¢et Durking Suttey RH4 2HF Date.. ¥J91t . Page 5 Thf Ch¥rknite Broadwo¢MI Trust Statement of Fin*t)eial Aetivitics fvr the Year F.nded 31 %1 1arcb 2024 31.3.24 Total runds 31.3.23 Totrdl funds Unrestricted fijnd Restrided Enth)wmcnL rund rund Notes INCOME AND ENI)OWMENTS FR()M InvL￿tr￿L'nt inL()me 30.51N) 30,500 31,488 EXPENDITURE ON Charitable activities Prtspert). C()51s 41.472 41,422 21.002 Net ¥ains1(l￿55L.￿) (?n investtMen15 12.686 9.735 22.421 (9.770) NF.T INCOMF. 1,764 9.735 11,499 716 RF.CONC.ILIATION OF FL'NDS T()(al funds hruu¥h( fvrward 283.655 77.448 401.750 762.853 762.137 TOI'AL Tr'UNDS CARRIE.D FORWARD 285.419 87.183 401.75U 774,352 762,853 The nLYes fomi pan of ihese financial s￿￿eMentS The Charlotie Broadwoud Trust Balanc¢ Sheet 31 Mareb 2024 3 1.3.24 31.3.23 Total funds UnTestricte41 fut Resiricied nd F.nthwment fijnd rund5 Notes FIXF.D ASSETS Investnicn15 Investmcnls Iffiv¢stment propety 226,427 87.183 313.61 401,7.50 291,749 401.75 401.750 226.427 87,183 401.750 715.3CJ(> 693,499 CUkkENI' ASSETS Prepawients And accrued incomc Cdsh at bank 59,644 59.644 70,27J .760 0.760 71.615 CREDITORS A￿u￿Al$ lalling due within one (1,768) (1,768) {2.?61) NET CURREN"r ASF>ET. 58.9Y2 .58.992 ()9.354 TOTAL ASSF.TS I,F.*8 CIJRRF.P4T LIABlI.I'fiES 285,419 87.183 401,750 774,352 702,853 NFT AS8F.TS 285,419 87,183 4Ql.750 774.352 762,853 The notes forni part 4)f thcse tinancial slaiemenL5 Page 7 coiitinued... 'rhe Charlolle Broadwood Balanee Shtti- eontiuutd 31 March 2(124 10 Unitstricted funds Restricied funds Lndow'ineni funds 285.419 87.183 401,750 283,655 77.448 401.750 TOTAL FUNDS 774.352 762,853 'Ilie fLn tkClc1 statements werc pproved by thL Board of Trustees and authorised for issue and werc si¥ned iL% behalf by". on D Gondall J.P. - Trustee A SchryvLr- TAL9￿￿ Mrs C. Bat>'_ TThstee •L6 ￿lL r) Silliman- TrUS￿e Mrs M E Ne￿naTh . Trnsttt Mrs A A K Baker- Trustce Tht nol4s furnx part of ihcsc fuwicial staiements Pagc g The Chjrloite Broadwo¢xl Trthsl Notes to the Fifft*n¢i*l Stst¢ments for th¢ Y¢*r Ended JI MarclE 2024 ACCOUNTING POLICIES B&sis nf preparing the financial stalements The financial siatemer]LS thf thc charity, which is a public beneftt entitv under FRS 102. have been prepared in ac¢ordanLe with the Charilies SORP (bRS 1021 'A¢couiiiing and RLw)rtiTrg by Chariiies.. Statcrnent of Rc¢ommendcd Practice applicabll lo (hariiies preparing thcir dLCllUtIls in accordance with ihe Financial Reporting Standard applicable in ih¢ UK and Rcpublic of Ireland (FRS 102) (effective l January 20191.. inaniiaj Reponing Standard 102 "r￿. FIn￿cIal R¢poning S￿idar￿ dpplicable in il)e UK and Republic of Ireland, and th¢ Chariiics Act 2011. The r]nancial siacemcnts havtr been prepared undLr the historical cost conventioi), wilh ihc exception ol inveslmenls which arc included ai markd value, as modilied by the revaluation of certain assels. F'inxnci21 reporling standard 102- rnduced di5closur¢ exeJnptioNs Th¢ charity. l)as takeri ddvdntdgl (If the lollowing dis¢losurc Lx¢mpiion in prepariiig ihesL finlincial statements. as pemiitted by FRS 102'The Financial Rewrting Siandard dpplicable in the UK and Rtpublic of Ireland.: the requirejneiits of%cc1ic￿ 7 Sthiffi*nt of Casli Flow%. IncomE All iiicome is recognis¥d in thc Statemeni of Firwicial A¢¢iviiies once ih¢ ¢hariiy ha¥ entillem¢ni to the funds. it is probablc ¢hyt ihe income will be received and ihc amoilni can mc&%ured reliably. Expethdilure l.iabiliiies are r¢¢ognis¢.d &% expendilure as soon as ihcrL' 1% # le&Tal or constnKtive obli&valion committin8 the charity 10 that expendi￿re, li is probable that a irdnsler ol. ¢conon)ic benL.fi(s will be required in sciilcmcnt and Ihe amount of th¢ obliga(ion can be me￿ured reliabl).. LxpeNlilurL' i.s accounied fur on an aL¢rua15 b&sis and has en ela8sifi¢d widL'r hcadin¥ thal aggregaie all cosi relaLed to Ihe caie80ry. WhcrL Losts cannot be dir¢GtIy aftributed 10 particular hcddings ihey have been all(Ka￿a io aciivili¢s on a basi.¥ Lonsist¢nt wilh the use ur suurLLs. Investment prnperty Inv¥%tmvnt prnpety, all of which 15 used direcily in ihe principle ac(ivily i)r Ihe tnjst, acquired wiihuul cost. The property is shown at most re¢¢nt valuation. An). awcgdte Surplus or deficii ari%in& froin the change5 in valuc is Iransferred to the Sthiement of FinanLial Arlivitics. Tlxalion ThL charity is ¢x¢mpt from t&X OA) iLs Lharitable activities. Fund ¥ccountin Unrestricted funds can be uscd in accoTdan¢e with the charitsblc objectiY¢s ai the discreiion of th¢ ttU5tees. Restricted funds are repreSen￿d b) an cxtr4ordinarv repair (und in order to provide a Sum lo meet the cost of major repairs or rebuilding which ma). b¢Lomc nLYLWry in ihe fijture. The M￿YS invesimLni pr(Jpeny is held within ihe cn(k)*Thent fuThJ. Fixed asset investments InvcslmenL% are inilialty recognised ai th¢ir transaction valu¢ and subsequLritlv measured ai iheir markLI value as ai ihe balaE)ce sheet date the c105ing qwt¢d marker pricc. The Staicineni of l.inanLidl Activities included the nel gain.% and losse5 ar15ing on revaluaiii)n and di%w>sals throughijut thL )Lar. R¢aliscd gain5 1055e5 All ¥din% dnd losses are tsken to thc StaiL'ment of Finanfial Actiyiiics &s arise. Realised gains lo.%se5 011 invL%tments are calculated a5 thc diffLrence berween sale5 pfoccLd% ¥nd Iheir op¢niiig carrying value, or their purchase value if aCqUirL￿ .4ubseqvenl 10 the fjrst da) of thc financial }¢ar. UnrLalised gains aiid losses arc calculated as IILL di(fLrcnce b¢￿e¢n ihe fair valuc al the Jeal end and Iheir catryinft value. Kcaliscd and LiurcallsL￿ invL*mieni gains and losses arc Lomhined in the Starenjeiit of Financial Activiiies. cnntinued... The Charlott¢ BroadTAood Trust Notes to the FiDanc*al StatemenLs- continued fibr the Tre4r Ended 31 March 2024 Ir4VLSTMENT INCOME 31.3.24 3 1.3.23 RcnL% re¢cived Inve5thi¢nl income Deposit account interest 25.892 4.512 96 25.829 5,582 77 .10.500 31,488 CHARITABLE AcfivITIES cosrs Suppon costs (see twte 4} Dircci Costs Totsls prO￿rty Cosis 4,055 41,422 SUPPORT COSTS Goveman cosis Total.¥ Property Losts 67 3,988 4,055 TRUSTEES. REMUNERATION AND BENEFI'rs 'rhL'fL WLfL nth tr￿%(L¢s. rLmuncraiii)n ()11￿￿ Ix'nLfiL% for ihc vcar end¢d 31 M?r¢h 2024 nor for the year ended 31 March 2023. Tru51ees' e%pens¢$ There were no trnst¢es' ¢xpertse$ paid for ihe year ended 31 Mll￿h ?014 nor for the yelr ended 31 Mawh 2023. COMPARATIVEts FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrcslricted R¢%tricted fimd fiu]d Endowment fi￿d Tolal funds INCOME AND ENDOWMETr¥fs FROM Invcslmcnt income 31.4811 31.488 EXPEIYDI'fuRE ON C.huritabl* activitiv Propertv Costs 21,(K)2 21,C4)2 Net gainsl(losse51 on inveslments 19.074) (696) (9,7701 NET INCOMEI{EXPF.NDITINRF.) 1.41? (696) 716 RECONCILIAI"LON OF FUP*VS Ti)tsl funds broughi fotivard 282 ?43 78.144 401.750 762.137 d¥L 10 continucd.- 'rhe Ckarloitr BrOad￿00d 1"r￿St Notes to the FinaDciai Ststernefjts- eonlinu¢d for the Year End¢d 31 M*rch 2024 COMPARATIVF.S FOR THE S'I"ATEMF.NT OF FINANCIAL ACTIVITJE.S- cootiTrued Unrestricted RLstrt¢ted lThAowtnent fund fund fund Total lids TO'I'AL FIINDS CARRIED FOKWARD 283,655 77,448 401,750 767 853 FIXF,D ASSET INVLSTMENTS Listed investmcnL% MARKET VALUE A¢ l April 20?3 Additions Disp).4dl% Revaluatioiis 291,749 16,323 (16,883) 22,421 At 31 March 2024 313.610 NEI, U()nK VALUE Ai 31 Murch 2024 313,610 Ai 31 March 2023 291,749 'I'hcrc wcre Investh￿nI assets of£1 35.64R ()ulside ihe UK. Cost or valuaiion al 31 MaTch 2024 is represenied by- Lisr¢d inveslmenls Valuaiion in 2024 98.?75 215,335 313,610 If fixed L%set inve8lmenis had noi been rcvalwd the). would have been includcd at ihc following hisiorical cost.. 31.3.24 31.3.23 Cw 215.335 217.756 Fixcd as5el inyestments WCT¢ valued OTr an open market basi% on 31 Mawh 2023 by Invesiec. Paue I I LUnlin￿e￿... I"he Charlolle Bn)*dwood Tru%t Notes to the fiD8ncial Staternents- eontintted for thc I'far Endcd Jl March 2U24 INVF.STMENT PRC)PERTY FAIR VALUE At l April 2023 and 31 Match 2024 401,750 NET BOOK VALUE At 31 March 2024 401,750 Ai 31 March 902.1 401.750 The inv¢s¢m¢ni prop¢rtv WLS valu¢d on an Exiying Use Value For S(Kial Housuig basis in November 2016 by avi118 (IIKI l.iinitcd. Lhanercd survey0￿. The tr￿￿ee$ do Ll)nsidcr that this valuatinn is rnaleridlly dillerent t() the valuL at thL TcFMIrtin￿ ddle. CREDITORS: AMOUP4TS FALLIYC• DUE WITHIN ONF. YF.AR 31.3.24 31.3.23 oil)er Creditors 1,768 2261 10. MOVEMENT IN FUNDS Nei movem¢nl in fvnds At 31.3.24 At 1.4.23 Unr¢4¢ricted fun¢L (icneral fund 283.655 1.764 285,419 Re$trl¢t4d fundy Resiricied 77.448 9.735 87,183 F.ndnwment funds F.ndowmcnl 401.750 401.750 TOTAL FUP4DS 762.853 11,499 774.352 Net m4)vement in fund%, includLd ihL at&)vL ar¢ follow5.. In¢omi]ig Gains and losseg Moveinent in fiinds expended Urtre5tricted funds Generdl lund 30.5(K) (41.422) 12.686 1.764 Restricted I￿ndS Resiricicd 9,735 9.735 TOTAL FUNDS 30,5(K) (41,4221 22,421 11.499 Pag¢ 12 LoThLinuLd... Thc Ch*rlotle BnMdwiM>d Trusl Note5 ¢0 the FillaDcial Ststements- eothlinued ror tbe Ye*r Ethdtd 31 March 2024 io. MOVEMENT IN FIINDS- Continued Comparatives for moi'emcDt Net movemeiii in fun&% Ar 31.3.23 At 1.4.22 Uiircstricltd lunds licncral fund 282.243 1.412 281,655 Rtttricted funds Resrricted 78.144 {696) 77,448 Eiidowjllcni funds ndow'mLnl 401.750 401,7.$0 TOTAL FIINT>S 762,137 716 762,8$3 C<)mparaiive nei mov¢m¢lli in fiuids. inclUdL￿d in the abtiv¢ ar¢ as follows.. Incomin resource5 Resource5 expendLd Gains and losses MiTrw¢meni in fviids Unrestricted funds Crcn¢ral fund 31.488 (21,[￿2) 19.n74) 1.412 Re8trlcted funds Rtstricied (696) 16961 TOTAL FUNDS 31.488 (21,1)021 (9,770) A Lurrent year I? monihs and prior year 12 rnonths combined ￿sItIon is as follows.. Net movcrnent in funds At 31.3.24 Ai 1.4.22 Unrt5tricted fulld5 (ienrral fund 282,243 3,176 285,419 liestricted Rcstricted 78.144 9,039 87.183 F.NdITr￿T￿en1 funds Endownent 401.750 401.750 TOTAL FUNDS 762.1 i7 12,215 774.352 Page 13 COT)tinued... Tht Charlotie BrnadW4(K￿.[rust N(Aes lo the Financial Statements- Continued fCLOSURES Th¢r¢ werc no rclat¢d party transactions for ihe year eThJed 31 March 2024. P￿C 14 The Charlotte Broad*'ood Trnst Deiailed Statement of Fioanciitl Activities for tbt Year Ended 31 March 2024 31.3.24 J1.3.23 INCOME AND ENDOWMLf4'13 RLnt% rLccivcd Investment incotne Deposii accouiii in(e￿st 25,892 4,-512 96 25,829 5,582 77 30,500 31,4R8 Total incomiiig resollrees 30.500 31,488 EXPElYDI'fuKE Charltable setlvltle$ Rale5 and woier Insuran¢¢ Lighi and hca( Rcpair% and rLnewa13 Cleaning liarden upkeep 398 .332 3.3Q3 27,75R 1.139 3,437 443 2,010 1,797 9,802 797 2.511 37,367 17,360 Support colts Financo B￿k chargc.¥ 67 75 Gov¢rnanc¢ cnsl$ Invesiment managerfs fees Sundries AccountHn¢y 1,804 594 1.590 1.800 207 1,560 3,988 3,567 Totdl resources exp¢nd¢d 41.422 21,002 Net (eApenditure)lineome before and 1095es (10.972) 10.486 Rea115ed reeognlstd gaiDs 105seJ RealTrscd gainQ{lass¢sl fixLd dS5et inwestsnents (1,8631 4.7CM) r4ct (expen¢Jitutt)lincornr 112.7851 15,186 This page d[￿S noi r(Jrm Vdrt of ihL StatuioTr tinancial statemenls Page15