The BG Campbell Trust Fund Charity Number: 255369 Trustee's Report and Financial Statements For the Year Ended 31st March 2022
The BG Campbell Trust Fund Trustee's Report and Financial Statements For the year ended 31 March 2022 Contents Page.. Officers and Professional Advisors Trustee's Report IndependentAuditorfs Report Financial Statements Statement of Financial Activities io Balance Sheet li Statement of Cash Flows and Net Debt Analysis 12 Notes to the Financial Statements 13-19
The BG Campbell Trust Fund Officers and Professional Advisors For the year ended 31 March 2022 Trustee Community Foundalion for Leeds - Corporate Trustee, appointed 2nd December 2013 (referred to throughout as Leeds Community Foundation) Registered Charity Number: 1096892. Company number.. 04443312 Registered Office Leeds Community Foundation Isl Floor 51a St Paul'5 Street Leeds LSI 2TE Bankers Santander Bootle Merseyside L304GB Investment Managers Sarasin and Partners LLP Juxno House 100 St Paul's Churchyard London. EC4M 8BU Rathbone Investment Management Limited Port of Liverpool Building Pier Head Liverpool. L3 INW Abrdn Bow Bells House 18read Street EC4M 9HH CCLA Investment Management Limited Senator Htsu5e 85 Queen Victoria Street London, EC4V 4ET Auditor Saffery Champness LIP Mitre HoLJse North Park Road Harrogate, North Yorkshire HGI 5RX Page I
The BG Campbell Trust Fund Trustee's Report For the year ended 31 March 2022 Trustee's Report The BG Campbell Trust Fund I'the Trust'l is registered as a charity in England and Wales under the Charities Acts 2011, Registration Number 255369. The principal and registered office is Leeds Comtnunity Foundation, 1st Floor, 51a St Paul's Street, Leeds. LSI 2TE. The TTUStee ha5 administered the Trust during the year in accordance with the terms and objects of the Trust as laid down in the original deed. Legal and Administrative details The Trust was created on 14 February 1968 by èn irrevocable deed between Brian Greaves Campbell, the founder and a founder mcmber and former director of Allied Colloids Group Limited, and the oriEinal Trustees. For the purposes of establishing the Trust the founder transferred 10,000 of his ordinary share5 of lop each in Allied Colloids Group Limited as an endowment to the Trust. Durin8 1998, Allied Colloids Group plc, the sutcessor to Allied Colloid5 Limited was taken over. Following the take over the Trustee5 sold their entire shareholding in Allied Colloids Group plc and re-invested the funds through a diversified range of investment manaEers. During 2013 the former Trustees sought alternalive management for the Trust and this transfer was affected by Leeds Community Foundation becoming Corporate Trustee of The BG Campbell Trust Fund on 2 December 2013. Details of governance and management regarding the Trustee Board and executive officers of Leed5 Community Foundation can be found in the financial statements of the Trustee which are available on their website www.leedscf.org.uk Objects and Activities of the Trust The objects of the Trust are to help poor or necessitous former employees and their dependents of Allied Colloids Limited. If. in any year, the whole of the income is not paid or applied as above, the Trustee may pay or apply the income to the Salvation Army or the British Red Cross, and in default of such payment and application they may apply the income for charitable purposes generally. The Trust ha5 established its Erant making policy to achieve its objec15. Payments to beneficiaries are determined by the Trustee based on application forms received from applicant5. The pool to be paid out is established and the payments to individuals are calculated. During the year, 247 individu31s12021- 2481 benefited from grants made by the Trust. The Trustee confirms that they have referred to the guidance conlained in the Charity Commission's general guidance or) public benefit when reviewing theTrust's aims and objectives and in planning grant making activitie5. Review of financial activity The financial statement5 have been prepared under the historical cost convention and in accordance with Statement of recommended Practice 'Accounting and Reporting by Charities. (issued in December 20151 and applicable United Kingdom accounting standards includir)g FRS 102 The Financial Reporting St3ndard applic3ble in the UK and Republic of Ireland. During the year net outgoing resources of £93,01)012021= £110,000) were deducted from the unrestricted funds, and £nil wa5 added to the endowment fund5 from operation$12021= £nill which together with realised and unrealised gains on investments during the year of £906,(X)012021.. £3,767,000 gain) resulted in the nel asset5 of the Trust increasing by £813,00012021= £3.657.000 increase). The Tru5Vs total funds (unrestricted fund5 and expendable endowment funds) amounted to £21,934,(X)O at 31 March 202212021-. £21,121,000). PaBe 2
The BG Campbell Trust Fund Trustee's Report For the year ended 31 March 2022 Trustee's Report (continued) Reserves Policy The polity of the Trust is to maintain sufficient capital to allow the Trustee to carry out the objectives of the charity. The Trust has accumulated unrestricted reserves of £815,000 12021., £908,000) to provide for an anticipated increase in the number of benefi.ciaries who will be eligible to be considered forgrants. Further details are included below in the Trustee's plan for the future. On 16 April 2009, the Charity Commi55ion approved the Trustee's resolution lo expend capital from endowment funds should this be required io meet payments to benefitiaries. Fundraising The charity cloes not use a professional fundraiser 01 commercial participator to raise funds and does not directly approach individual members of the public. During the period, no complaint5 have been received about fundraising activities. The fundraising practices comply with Charitie5 Act 2011, the Charities (Protection and Social Investment) Act 2016, and the Code of Fundraising Practice. Risk Factors The Trustee aclively reviews the major risk5 to which the charity is exposed and is satikfied that Systems are in place to mitigate exposure to the major risks. Common Reporting Standard The Common Reporting Standard is the international tax transparency legislation that aims to prevent tax evasion and allows the automatic exchange of financial accounts information between participatinE jurisdictions. During the year the Trust complied with guidance issued by HMRC and obtained and submitted residency information from those grant beneficiaries who are not based in the UK. Investment Policy and Performance The investment objectives are to achieve a balance of capital growth and income. During the year investments were held in a discretionary portfolio by Rathbones, Abrdn, Sarasin Alpha CIF for Endowment5 Income fund, and CCLA. The Trust deed provides power of investment and the 3ssets of the Trust are invested by the invegtment managers. Investments are monitored on 3 quarterly basis through the Resources and Governance committee of the Corporale Trustee, Leeds Community Foundation. The March 2020 Trustee meeting approved the recommendalion that the incumbent investment managers (Rathbones and Sarasinl be reappointed alongside the ir)vestment managers for Leeds Community Foundation, CCLA and Aberdeen Standard Capital. This Trustee meeting also approved the recommendation that the investments for the Trust and those for Leeds Community Foundation be split across these four investment managers to diversify the portfolios and spread the risk foi each of the charities. The process to transfer fundi between the four investment manage15 commenced during this year and was completed in June 2021. The Future The Trustee's plan for ihe future is to ensure as far as is possible that sufficient funds are available to continue to pay existing and potential beneficiaries. Currently the level of unreslricted reserves is £815,000. The Trustee acknowledges that payments io beneficiaries will increase in the future due to the age and profile of the eligible beneficiaries. Page 3
The BG Campbell Trust Fund Trustee's Report For the year ended 31 March 2022 Trustee's Report (continued) The Future Icontinuedl During 2017 the Trustee commissioned an actuarial review of the trust and the results of thi5 review suggested that there were funds available that could be pul towards grant making in Ihe wider Br3dford District, whilst Still retaining a focus on beneficiarie5 who are poor, Incapacitated and necessitous in line with the objects of the Trust. Work was undertaken to identify suitable grants programmes that could be supported by the Trust and during this year £194,000 has been paid to a number of charstable organisations in the Bradford district. In June 2020 an update to the actuarial review took place as a result of the forecast reduction in returns from investments. The results of this review suggest that the funds avaslable for grant making in the wider Bradford District have decre35ed and that no further such grants should be made other than those Erants which had already been approved and those grants to beneficiaries who are poor, incapacitated and necessitous in line with the objects of the Trust. In June 2022 a further actuarial review was undertaken and the trustee 15 currently considering ihe re5uIt5 before making further plans. Trustee Responsibilities Statement The trustee is responsible for preparing the Trustee's Annual Report and the financial statements in accordance with applicable law and regulations. The Charities Act 2011 requires the trustee to prepare financial statement5 for each financial year. The trustee has to prepare ihe financial Statements in accordance with United Kingdom Generally Accepted Accounting Practice Iunited Kingdom Accounting standards and applicable lawl, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The trustee must not approve the financial statements unle55 they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incomin8 resources and application of resources, includinE the income and expenditure, for that period. In preparing these financial statements, the trustee is required to= select suitable accounting policies and then apply them consistently- observe the methods and principle5 in the Charities SORP IFRS 1021,. make judEments and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, Subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on ihe goinE concern basis unless It is inappropriate to presumè that the charity will continue in business. The trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charily and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also re5pon5ible for safeguardinE the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
The BG Campbell Trust Fund Trustee's Report For the year ended 31 March 2022 Trustee's Report {continued) Auditor SaffÈry Ch3mpness LLP acted as auditor in the year and having expressed their willingness to continue in office will be deemed reappointed for the next financial year. This report was approved by the Trustee on 21 September 2022. Nicholas Lane Fox On behalf of Leeds Community Foundation Page 5
The BG Campbell Trust Fund Independent Auditorfs Report to the Trustee of the BG Campbell Trust Fund For the year ended 31 March 2022 Independent auditor's report to the trustee of The BG Campbell Trust Fund Opinion We have audited the financial Statements of The BG Campbell Trust Fund for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a Summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102. the Financial Reporting Starbdard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accourbting Practicel. In our opinion the financial statements= give a true and fair view of the state of the charity's affairs Bs at 31 March 2022 and of its incoming resources and application of resources for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Art 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applieable law. Our responsibilities under those standards are further described in the Audito¢s responsibilitie5 for the audit of the financial statemenls section of our report. We are independentof ihe charity in accordance with the ethical requirement5 that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethic31 Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the prepar3tion of the financial statement5 is appropriate. Based on the work we have performed, we have not identifietl any matèrial uncertairbties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements 3re authorised for issue. Our responsibilities and thè responsibilities of the trustee with respect to going concern are described in the relevant sections of this report. Page 6
The BG Campbell Trust Fund Independent Auditorf5 Report to the Trustee of the BG Campbell Trust Fund For the year ended 31 March 2022 Other information The trustee is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial statements doe5 not cover the other information an(J, @xcept to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our Tesponsibility 15 to read the Dther information and, in doing so. consider whether the other information is malerially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially mi55t3ted. If we identify such rnaterial inconsistencies or 3PP3rent material misstatements, we are required to delermine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material tn1551atement of this other information- we are reouired to report that fart. We have nothing to report in thi5 regard_ Matter5 on which we are required to report by excepiion We have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require u5 to report to you if. in our opinion= the information given in the Trustee's Annual Report is inconsistent in any material respect with the financial statements.. or the charity has not kept sufficient accounting records,. or the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we require for our audit. Responsibilities of Trustees As explained more fully in the Trustee Responsibilities Statemènt set out on page 4, the trustee is responsible for the preparation of the financial slatements and for being satisfied ihat they give a true and fair view, and for such internal control as the trustee determines is necessary to enable the preparation of financi31 statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustee is responsible for assessing the charitls ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unle55 the trustee either intends to liquidate the chaflty or to cease operations, or have no realistic altemative but to do so. Page 7
The BG Campbell Trust Fund Independent Auditor's Report to the Trustee of the BG Campbell Trust Fund For the year ended 31 March 2022 Auditors. responsibilities for the audit of the financial statements We have been appDinted as auditors under the Charities Act 2011 and report in accordance with re8ulation5 made under that Act. Our objective5 are to obtain rea50n3ble assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor5. report that includes our opinion. Reasonable assurènce is a high level of assurance. but is noi a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements c3n arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basi5 of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulation5. We design procedure5 in line with our responsibilities. outlined above. to detect material mi55tatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, intluding fraud are detailed below. Identifying and assessing risks related to irregularities: We assessed the susceptibility of the Iharity'5 financial slatements to material misstatement and how fraud mi8ht occur. including through discussions with the trustee. disiussions within our audit team planning meeting, updaling our record of internal controls and ensuring these contro15 operated as intended. We evaluated possible incentive5 and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussions with the trultee and updating our understanding of the sector in which the charity operates. Laws and regulations of direct significance in the context of the charity include the Charities Act 2011, the Charities IAccounts ond Reports) Regulations 2008 and guidan¢e issued by the Charity Commission for England and Wales. Audit response to risks identified= We considered the extent of compliance with these laws and regulations as part of our audit procedureg on the related financial statement items incluijing a review of finantial statement disclosures. We reviewed the charity's records of breaches of laws and regulations, minutes of meetings and correspondence wilh relevant authorities to identify potential material misstatements arising. We discussed the charitvs policies and procedures for compliance with laws and regulations with members of management responsible for compliance. During the planning meeting with the audit team. the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of marbagement whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraLJd. We addressed the risk of fraud through management override of controls by testinE the ppropriateness of journal entries and identifying any significant transactions ihat were unusual or outside the normal course of bsiness. We assessed whether judgements made in making accounting estimales Eave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional skepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitation5 in ihe audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, Ihe less likely Page 8
The BG Campbell Trust Fund Independent Auditorfs Report to the Trustee of the BG Campbell Trust Fund For the year ended 31 March 2022 we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations. or through collusior). A further description of our responsibilities is available on the Financial Reporting Council's web51te at: www.frc.org.uklauditorsrespon5ibilities. This description forms part of our auditorfs report. Use of our report This report is maée solely to the charity's trustee, as a body. in accordance with Part 4 of the Charities (Accotjnts and Reports) Regulations 2008. Our audit work has been undertaken so ihat we might state to the trustee those matters we are rèquired to state to them in an audito¢s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the trustee as a body, for OLAr audit work, for this ieporl, or for the opinion5 we have fomied. LLe Saffery Chatnpne55 LLP Chartered Accountants Statutory Auditors Mitre House North Park Road H3rrogate North Yorkshire HG15RX Date: 25 Octo[ 2022 Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companie5 Act 2006 Page 9
The BG Campbell Trust Fund Statement of Financial Activities (incorporating statutory income & expenditure account) For the year ended 31 March 2022 Unrestrlcted Endowment Funds Funds Total Funds 2022 £'ooo Total Funds 2021 £'ooo Notes £'ooo Income and endowmentsfrom: Inve5tmentS 557 557 532 Total 557 557 532 Expenditure on: Charitable activities Other 629 21 629 21 619 23 Total 650 650 642 Net 8airbS on investments 906 906 3,767 Net lexpenditurel/income (93) 906 813 3.657 Net movement in funds (931 906 813 3,657 Recontiliation of funds: Total funds brought forward 908 20,213 21,121 17,464 Total funds carried forward 815 21,119 21.934 21,121 All activities related to continuirb8 operations. All gains and losses recognised in the year are included above. Page 10
The BG Campbell Trust Fund Balance Sheet As at 31 March 2022 Notes 2022 £'ooo 2021 £'ooo £'ooo £'ooo Fixed assets Investments 21,595 20.721 Currènt assets Debtors Cash at bank and in hand 63 290 415 353 415 Liabilities: Creditors-. amounts falling due within one year 1141 1151 Net current assets 339 400 Net a55ets 21,934 21.121 Funds Expèndable Endowment Funds Unrestricted funds 21.119 815 20,213 908 Total funds 21.934 21,121 Approved Liy the Trustee on 21 September 2022 and signed on its behalf by= Nicholas Lane Fox On beh31f of Leeds Community Foundation The riotes on pages 13-19 form part of these accounis. Page 11
The BG Campbell Trust Fund Statement of Cash Flows and Net Debt Analysis For the year ended 31 March 2022 2022 2021 É'ooo Cash flows from operating activities: Net income for the financial year Adjustments for.. Dividends and interest from investments Galns on investments IDecreasel/lncrease in creditors Increase in debtors 813 3,657 15571 19061 15321 13.7671 1631 Net cash used in operating aLtivities 17141 1636) Cash flows from inverting activitie5: Dividends and interest from investments 589 51)0 Net cash provided by investing activities 589 500 Change in cash and cash equivalents in ihe year 11251 1136} Cash and cash equivalents at the beginning of year 415 551 Cash and cash equivalents at the end of year 290 415 Net Debt Analysis At l April 2021 £'ooo Cash flows At 31 March 2022 £'ooo £'ooo Cash 415 112SI 290 415 11251 290 Total Page 12
The BG Campbell Trust Fund Note5 to the Financial Statements For the year ended 31 March 2022 Accounting policies Basi5 01 Preparation The financial Statements have been prepared under the historical cost convention and in accordance with Statement of recommended Prdctrce 'Accounting and Reporting by Charities, (issued in December 20191 and applicable United Kingdom accounting standards including FRS102 The Financi31 Reporting Standard applicable in the UK and Reptjblic of Ireland. The accounting policies remain unchanged from the prior year and are set out below. Going concern The financial statements have been prepared on a going concern basis. The major risk for the Trust is seen as the impact on the value of our investrnentS and the income generated from those investments. Accordingly, the charity has revised downwards the forecasted return. both in terms of income and total return, on the investment portfolios held. These revisions have been incorporated into the actuarial review recently completed and into current year and future financial forecasts. The Trustee has satisfied Itself that the Trust fund has significant investments and cash assets. which are sufficient to cover the payments to be made to beneficiaries for the foreseeable future. Accordingly, they continue to adopt the going concern basis in the preparation of the financial statements and annual report. Income Investments - Investment income and interest are brought into account when receivable. Expenditure All expenditure is accounted for on an atcruals basis. No costs need to be apportioned to activities as all costs carb be directly attributed to specific activities. Charit3ble activities - Beneficiary payments and grants to charitable organi5ations are included in the period in which payment Is made or constructive obligation is created. Other- Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good prattice. These costs include costs related to statutory audit and legal fees. Administrative expenses are charged to the Trust by Leeds Community Foundation on the basis of time spent for services provided. The Trust is not exempt from Value Added Tax and irrecoverable Value Added Tax is included ift the cost of those item5 to which it relates. Investments Investments are included at closing mid-market value at the balance sheet date. Any gain/llossl on revaluation is takern io the Statement of Financial Activities. Management fees paid to investment managers are reflected in the unit price of the investments. Unrestricted funds These comprise income and capital funds which the Trustee is free to use in actOlLfance with charitable objects. Page 13
The BG Campbell Trust Fund Notes to the Financial Statements For the year ended 31 March 2022 l Accounting policies Icontinuedl Expendable endowment The expendable endowment fund represents the investments held by the Trust. Income arising on the endowmernt fund can be used in accordance with the objects ol the charity and is included as unrestricted income. The Charity Commission has approved 3 Trustees. resolution to expend capital. This resolution had legal effect from 16 April 2(KJ9. Any capiial gains and losses arising on investments form part of thè expendable endowment fund. 2 Investments 2022 2021 £'ooo Dividends- equities 557 532 3 Expenditure on Charitable activities 2022 2021 £'ooo Grants to beneficiaries 435 422 435 422 Grants to Charitable organisations= Inspired Neighbourhoods Contributions tD programmes through Leeds Community Foundation.. Bradford Children and Young People's Youth Fund Bradford Healihy Holidays Power to Change.. Keighley Community Health Grants 50 50 33 33 25 iii 89 194 197 629 619 Page 14
The BG Campbell Trust Fund Notes to the Financial Statements For the year ended 31 March 2022 4 Other 2022 2021 £'ooo Trust adminislration costs 15 17 Auditor's remuneration 21 23 The Trust had no employees in either thi5 or the previous year. Leeds Community Foundation Trustees have not charged any expenses in relation to the governance of th@ Trust. Trusl administration costs include Leeds Community Foundation costs in administering The 8G Campbell Trust Fund, costs for accountancy soltware and lor an investment monitoring report12021 only). 5 Fixed asset5: Investments 2022 2021 É'ooo 16,922 532 3,767 15001 Carrying value of investments brought forward Investment income Gain on investment valuation Less.. investment income transferred to cash 20,721 557 906 15891 Carrying value at 31 March 21.595 20,721 Analy515 of investments.. 2022 £.0 4.491 10,833 1,660 827 2.645 1,139 2021 £'ooo 5.096 10,014 2.332 353 1,666 1,260 UK equities Overseas equities Fixed interest Property Alternative Cash 21,595 20,721 Page 15
The BG Campbell Trust Fund Notes to the Financial Statements For the year ended 31 March 2022 6 Debtors 2022 2021 £'ooo £'ooo Accrued income 63 7 Creditors: amounts falling due within one year 2022 2021 £'ooo £'ooo Accruals Sundry Creditors Trust admirhistration costs 14 15 Trust administratron costs relate lo Leeds Community Foundation costs in administerin8 The BG Campbell Trust Fund. Page 16
The BG Campbell Trust Fund Notes to the Financial Statements For the year ended 31 March 2022 8 Analysis of net assels between funds Current Year Unre5trirted Funds Endowment Funds Year Ended Year Ended 31 March 31 March 2022 2021 £'ooo 20,721 415 1151 £'ooo 476 £'(KJO 21,119 Fixed assets Current assets Current liabilities 21,595 353 1141 353 1141 Nel Assets 815 21,119 21,934 21,121 Prlor Year Unrestrirted Funds Year Ended Year Ended 31 Marth 31 March 2021 2020 Endowment Funds £'o( 508 £'ooo 20,213 £'ooo 16.922 551 19 Fixed assets Currènt assets Curtent liabilities 20,721 415 1151 415 1151 Net Assets 908 20.213 21.121 17.464 Page 17
The BG Campbell Trust Fund Notes to the Financial Statements For the year ended 31 March 2022 9 Movement in funds Current year At l April 2021 Income Expenditure Gainsl Ilosses) At31 March 2022 £'wo £'ooo £'ooo Income fund5 Unrestricted funds 908 557 16501 815 Capital funcls Endowment fund5 20.213 906 21,119 Prior year At l April 2020 Income Expenditure Galnsl {lossesl At31 March 2021 £'ooo £'ooo £'ooo £'ooo É'ooo Income funds Unrestricted funds 1.018 532 16421 908 Capital funds Endowment funds 16,446 3.767 20.213 10 Related party transactions The financial statements ané activities of The BG Campbell Trust Fund have not been consolidated within the financial statements of Leeds Communily Foundation. who are the Corporate Trustee, due to the differing objectives of the two charilies. During the year an amount of £14,000 12021.. £16.1)001 was payable to Leed5 Community Foundation for the administration of the Trust, of which £8,00012021= £9,000) was owed by The 8G Campbell Trust Fund to Leeds Community Foundation as at 31 March 2022. During the year an amounl of £144.00012021: £147,000) was made in contributions to the Bradford children and Young People's Youth Fund Power to ChanEe-. Keighley Community Health Grants through Leeds Community Foundation. Page 18
The BG Campbell Trust Fund Notes to the Financial Statements For the year ended 31 March 2022 11 Comparative Statement of Financial Activilies (incorporating statutory income & expenditure atcountl for the year ended 31 March 2021 Unrestricted Endowment Funds Funds Total Funds 2021 Note5 E'OOO £'ooo Income and endowments from: Investments 532 532 Total 532 532 Expenditure on- Charitable activities Other 619 23 619 23 Total 642 642 Net gains on investments 3,767 3,767 Net expenditure (iio) 3.767 3.657 Net movement in funds (iio) 3.767 3.657 Reconciliation of funds: Total funds brought forward 1,018 16.446 17.464 Total funds carried forward 908 20.213 21.121 Page 19