THE BROYST FOUNDATION LINAUDITED ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OECEMBER 2024 Charity Commls8lon Refer•n¢o Number.. 290525
THE BROYST FOUNDATION ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 INDEX Pag8 Number Reference and AdmlnistralNe Delai18 Trust88s' Report Independent Exarllinerfs Report Statem¢nl of Financial Activtties Balance She81 8- 14 Notes to the Accounts
THE BROYST FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS YEAR ENDED 31 DECEMBER 2024 CHARITABLE STATUS The Charily CoMmissn regi8tralion number ofThe 8royst Foundation is 290525. TRUSTEES MsCSCox Mr R D L Showan rs L A BrorB PRINCIPAL ADDRESS 1st Floor ChiOrth Point 1 Chilworth Road Southampton Hampshire S016 7JQ ADVISORS Accountants Banktrrs and Invgstment managers Rolhmans LLP Chartered Accountants Chilworth Point 1 Chilworth Road Southampton Hampshi S016 7JQ Coutts & Co 440 Strand London WC2R OQS Sollcltors Inthpendent Examlner8 Paris Smith LLP Number 1 London RoBd Southampton Hampshi S0152AE Chichester Accounting 104 Stockblldge Road Chich8sler West Sussex P019 8QP Page 1
THE BROYST FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees pres¢nl trtsir report and the accounts for the year ended 31 December 2024. Th858 comply with eurT8llt 8tslulory reqU1MentS and thè Charity's govemirvJ documents. The financial statements have been prepared in accordanc8 with the accouniing policiès set out in note 1 to the accounts and cornply with the charfty's trust deed, thg charib.gs Act 2011 and the Flnandal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191- (Chariti89 SQRP IFRS 10211. STRUCTURE AND GOVERNANCE The Broyst Foundation was constitulgd by 8 Trust Deed da 16 October 1984 as The Mooney Famlly Foundation. The name was changed to The Broyst Foundalion on 5 June 1986. The Trustees meel regularty throughout tre year lo agree tha charity's strategy and discuss charitable activities. including consideration of grant making, Investment, reservès, cash flow and risk management. In planning the Foundation's grants for the year, the Trustees give equal con%d&ration to all r8quesls received for grants, and assess them in accordance with thè Charity's objectives and the Commission's guidan¢e on public benefit. APPOINTMENT AND TRAINING OF TRUSTEES The power lo appoint new Trustees is vested in the existing or conts'nuing Trustees, who carefully consider the Charity's needs together wlh the mix of skills required lo meet the professional obligations ol 8 Trustee. The inducts'on and training of new Trvslees is also overseen by existing or continuing Trustees and includtss inlroduclory Meetings, supply of infomialion ¢onceming the history and pury)osa of the charity and availability of the axisling Trustees to any questions new Trustees may have. RISK MANAGEMENT The Trustees have considered Ihe major rlsks the ¢h8rity is exposed to and the main form of financial risk faced by the charlty is that of volatility in equity markets and invegbnent markgts diJ8 lo wider economic conditions. the atb'tude of investors to investment risk, and changes in sentlment eonceming equ¢ties and within particular sectors or sub sectors. Volats'lity in the stock markets in recent years has demonstrated this risk and the Trust888 maintain an activ8 involvement with the porttolio manager lo assess the investment profiles adopted and the performanc8 of the th8rity's portfolK> overall, as well as setting aside sufficient monetary assets within cash depostts to limil some of th& ¢h8rity's exposure lo stock market perfomiance. OBJECTIVES. ACTIVITIES AND GRANT-MAKING Thts Foundation's objects'ves were amended on 16 March 2006 to th8 r81i8f of sickne55 and preservation and protection ol good h8allh forthe public benefit within the United Kingdom and Ov8rs88s in Such manner or by such means as the Trustees in their bsolule discretson think fil. The restricled fund. Th6 Reg Bums Foundation, is to be used for the advancement of education for the public benefit within the United Kingdom and Overseas in sueh a manner or by 8uch means as the Trustees in their absoluie discretion think fit. The Foundation's charitable activlties usually lake the form of grants lo cause8 or other charities aligned with the objoclives outlined above. To fulfill these objectives the Foundatson is fund8d by its relum on investments, through dividend in¢om8 and by interest received in respect of funds held on dÈp051t. PUBLIC BENEFIT Whilst reviewing the Foundation's aims, objeciives and planning fvIU aclivilies, tho Tru8tee3 always consider the Charity Commission's general guidance on public benefit and ensure thèt the Foundation's activities are in accordance with the charitable objectives. The charitable activities undertaken by the Foundation, by their nature and Ihe improvernenls the acts'vities have made lo many lives, ale without doubt undertaken for the ben&fit ol the publi¢. Pagè 2
THE BROYST FOUNDATION TRUSTEES. REPORT Icontinuedl FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE During the year, the valu¢ tsf the charity's fixed asset inveslments increased from £3,095,894 to £3,198,213. The Tnjstees active monitor the p6rf0Iffl8no8 of th8 investment portfolio lo comparable market informaiion including Peer Group Averages and overall investment conditions including global events and economic stability. With Ihe pot110lio Inca$1ng luriher Sin the yoar end al the time of &gning this reporl lo bring it more in line with pre-pandemic values. The return made on the Charity's Invesiments during the year under review, togeth8rwlh the feserve5 brought forward, have enabled the Tfuslees to sustain the Charity's activities and achlèvé its oble¢liv88, increasing the level of grants rnade in the year. The Foundation has supported approximatdy 70 diverse charitable org8nisalions and individuals in need during the year under review using its general funds, with a further 26 organisalions supported from the RWJ Bums Fund. Many of Ihese organisations are smaller in slze and have shown great appreGiation lo the Broysl Foundation for the positive impact these grants have made. FINANCIAL REVIEW The Statement of Financial Actiwties for th& year shows 8 nel surplus in funds of £105,58712023'. surplus of £141,965), which has increased the accumulated surplus of funds ¢arried forward lo £3,598,93712023.. £3,493,350). The nel surplus is primarily attributable to the increase in valuè ol the portlolio discussed earfier in the report. Income from investments has also increased from £100,898 to £116.757. During Ihe year, grants We made to a variety of ¢auses in line wilh the Ch8rity'8 objects amounting lo £101,43112023' £98,709). A defiCt of £16,609, beftsrè movem8nt in inv8Stment valuation, was recorded at the year end12023'. £28,209) and restricted funds, restricted for the advanc8tnent ot education, amounted lo £1,152.94612023= £1,110.8651. Given the strength of the Charity's balance sheèt, th8 TTUSte&s are of the opinion that the Charity has no financial uncertainties regardin9 Ihe Charity's financial suslainabilily or ability lo continue as a going concem, despite the econornic uncertainty arising as a rèsult of current events in Ukraine and fluctuations in Ihe real value of Sletling. RESERVES POLICY The PDsition of free cash r8serv8s is reviewed annually as part of the reserves policy each year. The Trustees consider it prudent to relain a minimurn ornount of cash r85erves equivalenl Ic* four years, projected expendiiure to equip Ihe charily wilh the ability, for a reasonabltr time poriod, to continue supporting those in need in thg event of any unexpected substantial impaimienl ¢0 ils investm&nl portfolio. Events in recent years have demonstrated the financial impact that can arise from a pandemic or war and the lime taken for the portfolio lo recover. not only in lemis of balan sheet value but also investmenl yield. The chaiity CUrn11Y targets annual gTrnl expenditure of approximately £100,000, at the same lirne ensuring that the Charity's grants are in 8ccordance with the specific objectives laid down in the governing document. The Truslees also consider al each Trustees. meeting whether any cash reserves arising in excess of the minimum reqUId in future could be moved Into other investment opportunities, taking into account ihe Charity's goveming docurnent and objectives, whilst also maintaining a float of fr88 r8serves sufficient lo 8cGommodate any ad hoc grants that arise beiween Trustees, meetings. As at 310ecember 2024, the cash b8lan¢es amounted lo £409,262. which is sufficient to meet the minimum amount. PLANS FOR THE FUTURE As described above. the Ttusloes are continuing lo concentrate on supporting the relief of sickness and preservation and protecbon ol gc>od hèalth logelherwith the advancernent of education. To meet the Charity's objectives, the Trustees shall continue to revlew and manage the investments of the Charity and rneel regulady to consider all grant requests received. Page 3
THE BROYST FOUNDATION TRUSTEES. REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES. RESPONSIBILITIES FOR THE ACCOUNTS Charity Law requires the Trusteès to p{8P8 financial statements for each financlal ye8rwhich show 8 true and fair view of the 8tale of affairs of the Charity and financial activities for that period. In pparIng those financial stat8rn8n15, the Trustees are required lo- select suiiable accounting policias and Ihgn apply them consistently., make judgemenis and estimatès that are r9asonable and prudent- stale whether applicable acwunling standarfs and statements of recommended practiee have been followed. subject lo any departure disclosed and explainèd in the financial slalements,. and prep8re the financial statements on the going ooncern basis unless it is inappropriate to presum8 that the Charity will continue in operational existence. The Trustees are responsible for keeplng proper accounting records which disclose with reasonable accuracy at any time the financial posibon of the Charity and to enable them to 8nsure that the financial statements comply wlth the Charities Act 2011, the chatY (Accounts and Reportsl Regulatlons 2008, Charities SORP IFRS 1021 and the provisions of the trust d88d. Th8y are also spOnsible for safegyarding ihe assets of the ChÈrity and hence for18king asOnable sleps for the pr&vention and detection of fraud and other irregularities. 10 October 2025 Approved byth8Trusleeson............................. .and sHJned on their b8half by'.- Mscscox Trustee MR R O L SHOWAN Tfustee Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BROYST FOUNDATION I repcrton Iha ofth&Tru$lfrf the yearended 31DeceMr2O24, thlch are set ojlon pages 5t0 14. Rèspectlvo resw>n51bllltles of th8 Tru5teos Ènd Indep¢ndtnt•xamln•f Th& Cha¥ity's Tnjstees arè respons forthe preparallon ofthe accounts. The Chavws TNstees cortshler Ihat an is t requir1 fttthls year er 8162 144 of Ihè Charilles Act 20111'iheCh8rilies Aefi and that an IndepeTrJentexamlnat)ri ts need&l. Itls my respJnBfoility lo: èxarnkne the arxounts under 98etiM 145 of lh& Charitie$ ACL to foll(M the wdureS lald down yra] DirectK)ns glverb ty the Charity Commlsskn {uThJer secilm 145(Sllbl ofthe Charities Act. and atethetherpartir#Jlar matters ecffle io myatt8Th1knk B8515 01 Independent ex•nlneV$ rewt Myexamryk8iknwas carried out ItlaCCOTdance wlh geT81 DIre$giVeN by Ihe Charity CommissR)n. An exminath)n Indudes a leeW ol the atcountiry recxyds kepl by th& Charity aTrJ a compafison of the accounts presented with thDse reoxds. 11 al Nicludes consfflerdlkni of anyunus31 Items or#isck)5us In the Brxounts, and seeklng explanatsons frrm Ihe Trustees CLni[ any such matters The procedu wkn1èrtakenth) I1prOvk48 am Ihe evidenthat Wld be wuirEd in an aud aThJ consequenty M otmnlon gin a5 to ¥thelJwT Ihe acc4unts present a YKue and falrf vtewand the report Is linited to Ik6e mattets toul in the statement below. Your attenb.on Es dra10 the fact th8t the Charty has weparpi5 accounts lfinanckl statements) th accordancewIlh lh8 lewdnt VWEKM of the Statement ol Recnmmenoed Pr%llce applicable to charitks preporing their aauntS n ac18 vath Ihe Finarla1 RepOrtIr StaDdaryJ spICable the UK and Republicol Iland IFRS 1021 n referen to the Aco)untiryJ arJ ReFyxL'ng by Chariti8s". Ststemenl of ReMendj Prncbce issued l Apn'l 2005kdh referFed to h thè extant regUlat*S but has beenwthdFaWn. l uThlew5t3nd Ih8l Ihi5 has been dong In c(derfor thè acc4JJllts loffid8 a lJuo and fair vithv in accorfanc8vthh UKGenerdty Acceprgj A[j Prdcticè effedv8 for rernrthg pertod5 beginnirwJ onorafter l January 201& Independent examln•Vs sl)t¢mont In Lx¥me¢b with MYexatn)al10n. m matter has rATh to my attenboi". {1) vthlch grves me reasonable eause to beIV&that in. arymaterf81 respec( Ihe requ1Ment& to keep aecouniing rèrA)rds ui aceonl8nr£ th sectiorb 130 of the CharitiesA¢ aThJ to preparè aecKJunls whlch aecud wSth tho acctyJntir¥J recor41sand rmiply wjih Ihg a¢ti[ requkements of the Charitws Act have rK)tbeen met". (Y {2) to whith. In myoplnlon. attenllort should be dra In eyder io enabte a pr0perUndeT5tand9 ollhe ac¢wnts to bè reached. Heather Ctteesman FCA Chitrthester Atnn0 Chartered Acc4yJntsnts 104 Stsxkbrfdge Road Chlchester West Su$%x P019 6QP 14-06-202a Pago S
THE BROYST FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total 2023 Total Unreslricled Funds Reslricled Funds INCOME AND ENDOWMENTS FROM: Invgsltnents 79,629 37.128 116,757 100,898 TOTAL 79,629 37,128 116,757 100,898 EXPENDITURE ON: Charitable activities 86.980 28,086 115.066 111,700 Other 10 12,481 5,819 18,300 17,407 TOTAL 99,461 33,5 133.366 129.107 Nel gain51 Ilossesl on investments 83,338 38,858 122,196 170,174 Net income I lexpendilurel and nel movement in funds 63.506 42,081 105,587 141,965 Reconciliation of funds Total funds brought forward 2,382,485 1,110,865 3,493.350 3.351,385 TOTAL FUNDS CARRIED FORWARD 2.445.991 1,152,946 3,598,937 3,493,350 All amounts relate to continijing activities of the charity. The Statement ol Financial Activities includes all gains and losses recognised in the year. The notes lo th8 accounts are shown on pages 8 10 14. Page 6
THE BROYST FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2024 Note 2024 2023 FIXED ASSETS Investments 3198213 3 095 894 TOTAL FIXED ASSETS 3.198.213 3,095,894 CURRENT ASSETS Cash al bank and in hand Inveslmenls 17,723 18,723 387 669 409,262 406,392 LIABILITIES CREDITORS.. Arnounls falling due within one year 936 NET CURRENT ASSETS 400 724 TOTAL ASSETS The funds of the Charity Unrestricted income funds Restricted income funds 13 13 2,445,991 1 152 946 2,382,485 1 110865 TOTAL CHARITY FUNDS The notes to the accounts ar8 shown on pages 8 10 14. The Trustees acknowledge thgir r8sponsibilili8s for complying with the requirements of ¢h8rity legislation with respect to accounting records and the preparation of accounts. The charity is subject to Independent Examination under charity *islation and the report of the Independent Ex8rniner is on page 5. 10 October 2025 Theseaccountsweieapprov8dbyth8Trusleeson.............................................-.8nd svJned onlhgirbehalfby=_ MSCSCOX Trustee MR R D L SHOWAN Trlislee Page 7
THE BROYST FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Accountlng Conventlon The financial statements have been ppared in accordanog with Accounting 8nd Reporting by Charities.. Statemanl (rf R&commendeil Practice applicable to charities prèparing their accounts in accordance wtth the Finartial Reportin9 Slandard applAGable in the UKand Republic of Ir61and (FRS 102) (effective l January 2019)- (Chariti6s SORP (FRS 1Q2)). the FnanCIal RepL¥ling Slandard applicable in the UK ar Republic ollreland (FRS 102) and the Charities Act 2011 and UK G8neralty Accepted Accounb'ng Practice. The financigl stslements have been prepared under the historical cost onvenlion. with tre exception of inveslments which are included al m8rkel value. The charity conslitutes a public benefit entity a8 defined by FRS 102. The financial slalements have been prèpar8d lo give a'lrue and fairf view and have departed from thg charib.es (Accounts 8nd Reports) Regulations 2008 On lo the exlenl fequired lo provide a'true and fair vie. This departure has evolved followng the relevant version of the Statement of R8commended Practice applicable to charities pparIng their a¢¢ounls in accordance with the Financial Reporting Standar(l applicable in the UK and Republic of Ireland IFRS1021 rather than Ihe Ac¢ounling and Reporting by Charities.. Statement of Recommended Pr8clice effectsve from 1 April 2005 whi¢th has since been withdrawn. The fin8nci818tal8rnents a psented In Stsdlng, which is the functional currency of the Charity. Th8 accounts 8150 comply with the Charills governing do¢umtsnls. Th& accounts have been ppad on a goin9 concem basis as the Truste88 have no material nrtaInlieS about th& Charity'8 ability to continue. Chartties SORP Financial Reportlng Standard 102- Rèduc Di$¢losur• Exempt5on8 The Charity has taken advantage ol the following disclosure exemptions in preparing these financlal statements, as p8mitted by FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statèment of Cash Flows. In¢omlng ReBouTce8 All income is recognised once the Charily has entitlement to th8 income. il is probable that the income will be CeiVed and the amount of income recewable can be measured reliably. Intere51 on fund5 held on deposit is included when receivable and thg amount c8n be measUd reliably by tho Charity.. Ihis is normally upon nolificalion of the interest paid or payable by the bank. Divi(fends are recognised once the dlvidend has been declared and nots'fication has been CeNed ol the dividtrnd due. This is nomally Ltpon notification by our investment 8dvisor of the dividend yield of the investment portfolio. R•8our¢os Expended Expenditure is accounted for on an accruals basis and has been ¢lassifi8d under headings Ihat aggregate all costs lated lo th8 category. Where costs cannot bè directly altiibubd to particular hgadirKJs they have been allocated lo aclivities on a basis ¢on8iStent with the use of resources. Irrecoverable VAT is charged to the Statement of Financial Activities wtten incurred and is included wthin the expenditure category lo which il relates. Support costs comprise those costs which are in¢urr&d directly in support of expenditure on the objects of the ch8rity and include governance cost, finance, and offic8 costs. Govemance costs a those costs incurred in ¢e¢ll0n with th8 compliance with constitutional and statutory r8quirgtn9nts of the charity. Support and govarndnce ¢osls wholly relate lo charitsble activities. Flxed and Curront ABset Inve8tments Fixed Asset Investments a form of basic financial instrument initially cognISed at transaction value and subsequently measUd at iheirfair value as at the balance sheet date using the closing quoted matk8t Pric8. The slaternenl of financial activities includes the net gains arYJ Ioss8s 8ri8ing on revaluation and disposals throughoul the year. Page 8
THE BROYST FOUNDATION NOTE5 TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Icontlnuedl Flxed and Current Asset Investments {contlnued) The Charity does not acquiro pul options. d8rivatives or other complex financial inslrurnents. All gains and losses arising from ffixed asset inv8strn8nls 8rg taken to the Stalernenl ol Finanrial Activities as they arise. Realisad gains and losses on fixed 85set investments are calculated as the differen between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calcul818d as the diff8r8nce belween the fair value al the year end and their carrying value. Realis and nalISert investment gains and 10&8e8 are cornbined in the Slalemenl of Financial Activits'es. Current Asset Investments cornprise of savings with an original rnalurity ol more than three months but less Ihan one year. Rlsks and unc&rtalnUg$ The main form ol financial risk faced by the eharity is that of volatility in equity markets and investmenl markets due to wider economic conditions, the attitudè of investors to inveslrnenl risk, and changes in sentsment conceming equities and within partular sectors or sub s6Ctors. Cash at bank and In hand Cash at bank and cash in hand includes cash and short tèm highly liquid investmènts with a 8hort m8luriiy of three months or less from the date of acquisition or opening of thè dèposit or similar account. Cfedbtors Credilors are recognised Whe the ¢harity has a present obl¥Jalion resulting from 8 Past event that will probabty result in the transfer of fvnds to a third party and th& amount du8 10 Settle the obligation can be meaSud or estimated reliably. Creditors are nomially rec(4nis@d at th8ir $9tUement amount after allowing for any discounts due. Taxatlon The Broyst Foundation is conSided to pass the tÈstg set out in Paragraph 1 Sch8dule 6 Finance Act 2010 and iherefo¥e il meets the definition of a charitable trust for UK income tsx purp058s. Accordingly, the Charity is potentially exernpl f¥om taxation in respect ol income or capital gain5 reGeived within categories covered by Part 10 Income Tax Act 2007 or Section 256 of ihe Taxalion of Chargeable Gains A¢1 1992, 10 tho 8xlont that such income or gains are applied 8xclusively lo charitable purposes. Fund Accountlng General funds a unrestricied funds which are available for use 81 the discretion of the Trustees in fvrtherance of the generdl objectives of the charity and whlch have not been ¢Je8ign81gd for other purposes. Restricted funds are funds whlch are lo be used in a¢cordan¢e with specific r8slricb'on8 irnposed by donors orwhich have been raised by the charity for particular purposes. Reslrict8d funds can only be used for the advancement of education and research. The costs of raising and administ8ring such fijnds are eharged against thè Spètyf fund. Th8 aim and use of each restricted fund is set out in the notes to the financial statements. Investment income. gains and losses are allocated lo the appropriate fund. Page 9
THE BROYST FOUNDATION NOTES TO THE ACCOUNTS Icontlnued) FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Icontlnuodl Slgnlflcant Judgements and EBtimates The Trustees believe there are no significanl judgernents, eslimales and assumptions that may have a material effect on thè prèpardlion of the fin8ncial statements lor the year. All fixed assel investmenl a listed invesiments. No judgeme¢)is 18p8rt froffl those involving eslimalesl have been made in the prO$S of applying the above accounting policies. Ro1ol•d Partles The have betrn no related party Irarisaclions in the year Ihal require disclosu. 2 REALISED AND UNREALISED GAIN I (LOSSES) ON INVESTMENTS Note 2024 Total 2023 Total Unreslricled Funds Restricted Funds Realised goinlllo$s) on investments 667 311 978 3,108 Increaselldecreasel in value of fixed asset investments 82,671 38,547 121,218 167,066 Realis8d and unr88lise(I gain I Ibs8esl on investments 38 3 FIXED ASSET INVESTMENTS The Split of investments b8iween unreslricled and S111c1ed funds are as follows.. Unrestrlcted R&strlct6d Total 68lance al 1 January 2024 Additions Dispo581s Revaluations Nel movement in cash deposiis 2.227,181 457,547 1479,6881 82,671 9,252 868,713 213,337 1223,6611 38.547 4.314 3,095.894 670,884 1703.3491 121.218 13,566 Total as at 31 December 2024 £901 Page 10
THE BROYST FOUNDATION NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 FIXED ASSET INVESTMENTS Icontlnued} The split of the Investments beiween UK and Overseas are as follows.. 2024 Total 2023 Total UK Forelgn Fixed interèst S6curits'e$ Index Ilnked Equities Unlisied securiti6S Cash deposits lemative investments 463,584 157,231 620,815 575,766 1,052,636 1.443.757 2.496,393 2,392,651 73,453 7,552 73,453 7,552 59,887 67,5) Historical cost CURRENT ASSETS INVESTMENTS 2024 2023 Oepost accfmjnts CREDITORS.. Amounts falllng duè within on8 year 2024 2023 Accruals Other credilors 8,538 8,902 34 INVESTMENT INCOME unStrICted Fund ReStrted Fund Total Fund Dividends- equities IUK and Non-UKI Interest on cash deposiis 63,060 16,569 29,402 7,726 92,462 24,295 Toial as at 31 December 2024 Page11
THE BROYST FOUNDATION NOTES TO THE ACCOUNTS Icontlnueil) FOR THE YEAR ENDED 31 DECEMBER 2024 INVESTl4lENT INCOME l¢ontinugdl Unrestricted Fund Restricted Fund Total Fund Dividends- equrtie8 (UK and Non-UKI Intest on cash daposts 59,179 9,954 27,191 4,574 86,370 14,528 Toial as at 31 December 2023 7 CHARITABLE ACTIVITIES The Charity undertakes its charit8blg acllvilies Ihroujh grants to other charities and individuals in furtherdnce of ils charitable activities. 2024 Total 2023 Total Grants Support and govemance costs Funded from unr&stdct8d funds Funded from restricted funds 77,681 23,750 9,299 4.336 86,980 28,086 87,610 24,090 8 GRANTS The spllt ol grants pold between othercha1&S and individuals are as follows.. 2024 2023 Grants made lo insbtufyons197 x grants) Grants made lo individuals12 x gfanlsl 97,250 4,181 98,000 709 The charfty awarded grants to olhor charities and individuals for a variety of causes, all in line the charity's objecb'ves. ALLOCATION OF SUPPORT AND GOVERNANCE COSTS 2024 Total Fund 2023 Total Fun(J Unrestricled Fund Resiricted Fund Governance Costs Accountancy & bookkeeping fees Ind8P8ndenl examinalton fee5 ProvisiorTr of Tru51ees arKI adrninistration 2,413 341 6,S45 1.125 159 3,052 3,538 soo 9,597 3,567 500 8,924 Total as at 31 DeCeMr 2024 Page 12
THE 8ROYST FOUNDATION NOTES TO THE ACCOUNTS IContlnued} FOR THE YEAR ENDED 31 DECEMBER 2024 10 INVESTMENT MANAGEMENT COSTS 2024 Toial Fund 2023 Tolal Fund Unrestricted Fund Reslrictsd FuTrd Investment managem9111 costs 11 TRUSTEES, REMUNERATION AND BENEFITS None ol the Trustees have been p8id any remunerats'on or ceiVed any other bsnefits from an employment with the Charity or a related entity. During Ihg year, none of the Truslees were reimbursed12023.. £nill directly in respecl of Trustee meeting expens&s. 12 NET INCOME Nel income is stated after charging.. 2024 2023 Independent examination fees 500 500 13 ANALYSIS OF CHARITABLE FUNDS AnalS of Ftjnd Movtrments Balance blfvld Income Expenditure Transfers Gains and losses Balance cld Restricted fund unstricted fund 1,110,865 2,382,485 37,128 79,629 133,9051 199,4611 38,858 1,152,946 83,338 2,445,991 Total Bs Bt 31 D8¢amber 2024 Analysis tsf Fund Movements Balance bld Inctsme Expenditure Transfers Gains and sses Balance rj Restri¢l&d tsnd UnStricte{l fund 1.055,095 2.296.290 31,765 69,133 129,5701 199,5371 53,575 1,110,865 116,$99 2,382,485 Total8sat31Deoember2023 38& £a2UllZJ L. The restricted furld, The Reg Bums Fund, is restricted for the advancement of oducalion for the public benefit within the United Kingdom and Overseas Pa96 13
THE BROYST FOUNDATION NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 31 DECEMBER 2024 14 ANALYSIS OF FUND ASSETS AND LIABILITIES Note 2024 Unrestricted Fund 2024 Restricted Fund 2023 Unr08trictsd Fund 2023 Restricted Fund Fixed asset investments Current assets Curreni liabilities 2.296,963 152,203 13.1751 901,250 257.059 {5,363} 2,227,181 158,796 13,4921 868,713 247,596 15,4441 15 RELATED PARTY TRANSACTIONS There were no related party transactions arising for the year under review. 12023.. Nonel Page 14