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|Thetrustees presenttheirr|eportandfinancial|statements for theyearended5|49ri12022.|
|---|---|---|---|
|||TheNorton Foundation||
|CHARITY REGISTRATIONNUMBER||702638||
|PRINCIPALOFFICE||TheNorton Foundation||
|||Carleton House||
|||266-268StratfordRd||
|||Shirley||
|||Solihull||
|||B9O3AD||
|TRUSTEES||AlanBailey - Chairman||
|||Michael R. Bailey - ViceChair||
|||R.H.GrahamSuggett||
|||Mrs Sarah Henderson|(resigned 21st October2021)|
|||MissWendyCarrington|(resigned 21st October 2021)|
|||MrsJaneGaynor||
|||RichardG.D.Hurley|(resigned 21st October2021)|
|||BrianW.Lewis||
|||RichardC.Perkins|(resignedgthNovember2021)|
|||WilliamPusey||
|||Mrs Louise Sewell||
|||Ms Mashkura Begum|(resigned 6th January2022\|
|||Bill Jaspal|(appointed 20th January2Q221|
|AUDITORS||ThomasandYoungLtd||
|||CharteredAccountants||
|||Carleton House||
|||266-268StratfordRoad||
|||Shirley||
|||Solihull||
|||B9O3AD||
|BANKERS||CAF Bank Ltd||
|||25KingsHillAvenue||
|||ME194JQ||
|INVESTMENTMANAGERS||Barclayslnvestment Solutions|Limited|
|||One Snowhill||
|||Snow HillQueensway||
|||Birmingham||
|||846GN||
|Website||||
|www.nortonfoundation.orgisthe address of theTrust's Website||||
|Thefollowingofficialscanbe contactedbyemail:<br>Chairman<br>chairman@nortonfoundation.org||||
|Correspondentcorrespondent@nortonfoundation-org||||





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|Principal risksanduncertainti|es<br>Response|
|---|---|
||lnternal|
|False accounting|.Detailedwritten policy on financial systems|
||.Quartedyreview of financial performance against agreed budget|
||.Extemalstatutory audit|
|Misappropriation of income|.Almostall incomeiscollected by investmenl advisors andconlrolledbythem|
||.lnsjgnificantand rare refunds of grants returnedbycheque payable to Norton|
||.Assurancereports onintemalcontrolsof custodians of our investments|
|lnflated expenditure|.Detailedwritten policy on Iinancial systemswhichincludes requirement for all|
||payments to have 2 signatories including at least1trustee.|
||.lnvestmentmanagers fees are taken from funds heldbythem and amounts are|
||reviewed to ensure compliance with agreement|
|Misappropriation o, assets-||
|lnvestments|.Assurancereporls onintemalcontrolsofcuslodians of our investments|
|Cash at bank|.Monthlybank reconciliations|
||a|
|Lossinvalueolinvestments|.Externalinvestment managers have discretion to manageourlunds.However, the|
||risk remains that extemal economic andpoliticalinfluences cannot always be|
||foreseen and therefore mitiqated|
|Fraudulent grant applications|.Capital andproject grants are reviewedbythe board of trustees|
||.Grantsto individuals arepaidto sponsors who are charged with the responsibility|
||to ensure that grants areconectyused|
||.Trusteesvisit grantees or sponsors from time to time|





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|STATEMENTOFFINANCIAL ACTIVITIESfor|thoyearended5Ap|til2022||||
|---|---|---|---|---|---|
|||Unrestricted|Permanent|2022|2021|
|||Funds||||
||Notes|General|Endowment|Total|Total|
||||€|€|E|
|INCOME FROM||||||
|Donation||||||
|lnveslmentinqome||||||
|Funds held bylnvestmentManagers|3||149,247|149,247|157,859|
|Bank interest|||2|2|2|
|Totallncome|||149,249|149,249157,861||
|EXPENDITURE ON||||||
|RaisingFunds|||36,284|36,284|32,'t59|
|Charitable activities|4|392,449||392,449|49,2U|
|Governancecosts|4|6,473||6,473|5,538|
|Total Expenditure||398,922|36,284|435,206|<br>86,981|
|Netgainson lnvestment assets|||368,338|368,338|1,22A,536|
|NET INCOME/(EXPENDITURE)||(398,922)|481,303|82,381|1,299,4'16|
|Transfers||398,922|(398,922)|||
|NET MOVEMENT IN FUNDS|||82,381|82,381|'t,299,4'16|
|TOTALFUNDSbroughtforward|||5,952,186|5,952,186|4,652,770|
|TOTALFUNDScarried forward|||6,034,567|6,034,567|5,952,'186|





|||2022|2021|
|---|---|---|---|
||Notes|E|€|
|FIXEDASSETS||||
|lnvestments|6|5,845,976|5,794,101|
|CURRENTASSETS||||
|Cash awaitinginvestment<br>Bank and cash|7|146,812<br>47,179<br>193,991|<br>126,386<br>35,365<br> <br>161,751|
|LIABILITIES:Amountsfallingduewithinoneyear|I|5,400|3,666|
|NET CURRENTASSETS(LIABILlTIES)||188,591|<br>158,085|
|NETASSETS||6,034,567|5,952,186|
|FUNOS||||
|PermanentEndowment||6,034,5675,952,186||






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|||2022|202',1|
|---|---|---|---|
|||e|e|
|lncome|from investments lisledonarecognisedstock exchange|149,247|157.859|
|lnterest|oncashheld aspartoIthe investmentportfolio|2|2|
|||149,249|157,861|





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|CHARITABLE ACTIVITIES and GOVERNANCE COSTS|||||||
|---|---|---|---|---|---|---|
||||2022|2022||2021|
||||e|€||€|
|Grantsto individuals|||20,978|||18,430|
|Grantsto individuals-discretionary|||'10,750|||19,200|
|Grantsto institutions|||120,946||||
|Capital grants|||225,000||||
|||||377,674||37,630|
|Support costs|||||||
|Correspondents remuneration|||13,728|||11,047|
|Telephone, postageandstationery|||301|||398|
|Bankcharges|||136|||74|
|Travelling expenses|||z',t8||||
|DataProtectionfee|||35|||35|
|Meetingexpenses|||359||||
|Printing leafletandWebsite redesign|||U|||100|
|||||14 775||I1,654|
|||||392.M9||49,2U|
|Governance costs|||||||
|Correspondent's remuneration|||2,423|||1,949|
|Telephone, postageandstationery|||53|||71|
|Travelling expenses|||38||||
|Meetingexpenses|||359||||
|Auditors' remuneration|||3,600|6,473||3,518<br> <br>5,538|
|During the yeargrants to individualshave been made asfollows:|||||||
||2022||2022|2021||2021|
||||Total|||Total|
|Purpose|Number|funount||Number||Amount|
||||€|||e|
|Clothing|9||1,690||15|2,000|
|Education andtraining|'t5||3,213||30|6,095|
|Household|95||15,835||54|10,035|
|Holidaysandactivities|2<br>ru||240||1|300|



|Purpose|||
|---|---|---|
|Educational programmes|19|68,784|
|EquipmenUbuildings|2|20,000|
|Soclal activity|30<br>9|32 toz<br> 120 946|





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|<br>includepaymentsof €1,000or mo|<br>re to thefollow|ing:||
|---|---|---|---|
|BEFestivalClC|f2,7U|Redthread YouthLimiled|15,000|
|Big Brum Theatre in Educatjon|f3,000|SandwellAsianOevelopmentAssoc|€3,000|
|Birmingham Centre for ArtsTherapies|€5,000|Sandwell YouthinAction|f5,000|
|Birmingham Royal Ballet|€3,000|Seeds oI Hope Asylum and Retugee||
|Building 4 Hope|€5,000|Support Ltd|€1,500|
|Ecobirmingham|€5.000|Shirley S€a Cadets|€5,000|
|Family Connection Association|82,500|Spon4LifeUK|85,000|
|Gospel OakCommuni9Fo.um|f3,000|Stage2YouthThealreCompany|€1,000|
|Happy Days Childrens Charity|e3,000|Sudden Productions|€2,500|
|lnsight CCSS|€5,000|The Bryntail Cottage Chanty|€15,000|
|Kids|f3,800|TheLiving PaintjngsTrust|E't,950|
|LibertyJamboree|t2,500|TheOuh/vardBoundTrust|t2,912|
|Martineau Gardens|t2,000|TransitionsUK|e5,000|
|OrchestmottheSwan|€2,500|Universal Church of JesusChrist|€5,000|
|Peacemakeas|f5,000|Young MindsMalter|f5,000|
|||Young PeopleFi6t|e5,000|



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|INVESTMENTS|||
|---|---|---|
||2022t|2021<br>€|
|lnvestments listed on a recognised Stock Exchange|||
|Carrying value (market value) at sthApil202'l|5,794,101|4,604,739|
|Add: Purchases duringyear|942,651|2,340,386|
|Less: Disposals during theyearat carrying value|-1,210,004|-1,947,230|
|Add: Net gain on revaluation|319,228|796,206|
|Carrying value (market value) atslhAptil2022|5,845,976|5,794,101|





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|CASHAWAITING INVESTMENT|||
|---|---|---|
||2022|2021|
||E||
|Cash in the hands of thelnvestmentManagers|146.812<br>146,412|126386<br> 126,386|



|Accruals|5,400|3,666|
|---|---|---|
||5,400|3,666|



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|SUMMARYOFPERMANENT ENDOWMENTFUND|||||
|---|---|---|---|---|
|||Unapplied|||
||Endowment|TotalRetum|Total||
||2022|2022|2022|2021|
|Aggregatevalue of the assets since theoutsetoftotalretum|f€||€|€|
|Valueat'lApril'1991|1,813,010||1,813,0'10|1,813.010|
|Addilionalendowedcapital1Apnl1992|246,620|-|246.620|246,620|
|Gain in value||3,892,556|3,892,556|2,593,140|
|Valueat5April202l|Total2,059,6303,892,556||5.95<br>186|4 652,770|
|Movements in theyearended5Apil2022|||||
|Gain(Loss) in value||368,338|368,338|1,228,536|
|Netlnvestment incomereceivable||145,249|149,249|157,861|
|lnvestment managementcosts chargedagainstpermanent endov'rment||-36,284|-36,2U|-32,159|
||Total|481,303|48'1,303|1,3U,238|
|Net unapplied totalretumallocatedtoincome for the yearended5April 2022||398,922|-398,522|-54,822|
|Net movementtorthe year ended5April2022||82.3B182.381||1.299,416|
|Value at5April2022|||||
|Permanentendowment|2,059,630||2,059,630|2,059,630|
|Unapplied totalretum||3.974.937|3.974.937|3,892,556|
||Total2,059,6303,974,937||6,034,567|5,952,186|





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|PRIORYEAR COMPARATIVE OF FINANC|IAL STATEME|NT ACTIVITIES|NT ACTIVITIES||
|---|---|---|---|---|
|||UnrestrictedPermanent||2021|
|||Funds|||
||Notes|GeneralEndowment||Total|
|||€€||e|
|INCOMEFROM|||||
|lnvestment income|||||
|Funds held bylnvestmentManagers|3||157859|157859|
|Bankinterest|||2|2|
|Totallncome|||157,86'l|157,861|
|EXPENDITURE ON|||||
|Raising Funds<br>Charitableactivities|4|49,2U|32,159|32,159<br>49,284|
|Governancecosts|4|5,538||5,538|
|Total Expenditure||54,822|<br>32,'159|86 981|
|Netgains on investment assets|||'t,228,536|1,228,536|
|NET (EXPENDITUREY INCOME||(54,822)|1,354,238|1,299,416|
|Transfers||54,822|(54,822\||
|NETMOVEMENTIN FUNDS|||1,299,416|1,299,416|
|TOTALFUNDSbrought forward||4,652,770||4,652,770|
|TOTALFUNDScarriedforward|10||5,952,186|5,952,186|



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