## **THE ELLIS CAMPBELL FOUNDATION** ## **ANNUAL REPORT FOR THE YEAR ENDING 31[st] DECEMBER 2020** **----- Start of picture text -----**
Other
Education Heritage Youth Total
(ad hoc)
s
No of
NIL (NIL) 1 (1) 9(3) 9(7) 19 (11)
Hampshire grants
£k £0.00 £250.00 £33,750.00 £178,000.00 £212,000.00
No of
NIL (NIL) NIL (NIL) 7 (19) 5(2) 12 (21)
Other areas grants
£k £0.00 £0.00 £116,500.00 £254,820.00 £371,320.00
Perthshire No of
NIL (NIL) NIL (NIL) 2 (4) 2 (1) 4 (5)
and grants
Scotland £k £0.00 £0.00 £7,000.00 £500.00 £7,500.00
No. of
NIL (NIL) NIL (NIL) 1 (NIL) 6 (12) 7 (12)
London grants
£k £0.00 £0.00 £500.00 £11,000.00 £11,500.00
No of
NIL (NIL) 1 (1) 19 (26) 17 (22) 42 (49)
grants
Totals
£602,320.00
£k £250.00 £157,750.00 £444,320.00
(£122,115.00)
**----- End of picture text -----**
Notes: 2019 figures in brackets for comparison There were 42 (49) recipients of a grant this year with a total sum of £602,320.00 (£122,115.00) donated. REGISTEREDCHARITV NLMBER: 802717 RF.PORI' OF I'IIF. TRLSI'FFS A14D AI DITED FlI%Al4CIAL sTATEME￿Ts FOR THE YEAR EliDED 31 DECEMBER 2020 TrOR THF. F.LLISCA.MPBF.LLCHARITABLF. FOl..￿DATIo The comp2faiive infomi&ion in the fJnan¢ial statements ts derived from Ihechariiy's prior period financizl siaiemenis which were noi audiied. 'riiE EI,LIS CAP¥lPBEI.I. CIIARI"fABLE FObYDAI'IOY C.OYTgNTS OFTHE FIYAYCIAL STATEMEYTS FOR THE YEAR EYDED 31 DECE.MBER 2020 Page liei)ort of the Tru5ttts Statenieiit of Fina￿¢1￿1 Activities BalAiice Sheet CAsh Stliemeni oles to the CAsh Flow Slxiement ole$ lo the FirtxthclAI StAiemerhiS 8 10 15 THE ELLIS CAIMPBELL CHARITABLE FOLYDATIOY REPORT OF THE TRUSTEES FOR THE YEAR EYDED 31 D£CEIllBER 21120 The trustees present their rew>rt with the fin￿¢1￿1 statements of ihe charity for the year ended 31 DetembeT ?O?O. The Iriistees have adopied the prowisions of Accounling and RetM)rting by Ch81ilies.' Siaiemenl of Recommended Praeiice applicable 10 chaTilies preparing their actounls in accordance with the Financial Retx)rting Standard applicable in the UK and Republic of Ireland IF"RS I O?) leffeciive l January ?0191. OBJECTIVES AND AcTl￿.1T1Es Objertives Rims Under the ierms of the seiilemerti, Irusiees are able to kpply the funds to any charitable purpose and in such manner as (he Iriisiees may from time 10 lime in iheir disC￿lon deiemiine. wilh special reference ￿ Youth, 14eriiage and Education in Hamp5hirc and Pcrth5hire. In planDiDg their doJ)alioDs for year they kcpt in mind the Charity Comniission's guidancc w public benefii ai iheir Irusiee medings. Donation making poli¢y The objeeis of Ihc charily allow Itustees kn regularly r¢view how i*si to apply the chariiable funds. The piincip81 b¢Tr¢fi¢ial ar¢as are 14anipshirc. P¢rthshi￿ aDd l.ondon wh¢r¢ th¢ Irvstrts SUPFQn disadVan￿¥¢d young people a¥¢d 16 10 ?5 with a particular focus on bridgin¥ ihc ¥ap beiween education and ¢mp.o>m¢DI. This 1$ administered fi'om the London office with appli¢aii¢ns Ih¢n b¢in¥ Prtsent￿ to Ihe ¢nJsiees at bi-annual irusttt meetings. ACHIEVEIMENT AND PERFORll*l.YCE Ilow our activities deliver public benefit In pursuanLe of its chariiable ainis. the Lharily gives donaiions 10 fund a wide r8nge of aciiviiies. Tlie Irusiees consider tliai tliese activiiies, summar15ed above. provide benefit b)ih ￿ the indtviduals receiving the donations and Ilie wider community in IlampshiT¢. Perthshire and London. Th¢ chsriry continues ￿ fulfil it$ objetts throu8h its donation makin8 wlicy 8nd the irusi¢¢s r¢8ularly monitor its atliievenieni. The Trusiees ltil Ihai Ihe obieaiwes of1￿ ¢harily have beeth md and lh¢ publi¢ have benefiied from 11$ FINAPJCIAL MEVILI4.' inAnci*l i)osition Toial inELini¢ froiii donalions and invesimenis for the year amounted 10 £658.5861?019.. £537.5171. The cliariiy made 4• donations during the year ioialling £60? 311) 1•019.. 49 donaiion5 ioialling £170,11 Sl. The avernge donation was £14,3411?019.. £3.47•1. Investment pollty objecilves Tlie charily lia% no reslri£tion5 on its powers to inv¢$i Th¢ policy of the trustees 1$ io s¢¢k its niJxirni5¢ total rclurn. wliilsi niainiaining the real value of the sx)nfolio and subjecting it k) undue risk. Trusiees review iiivesimeni p¢rforix2nc¢ ai ¢2ch m¢¢tin8. and their FK>licy ￿ leasi anttually. At 31 Dccember 2020 Ihe chArity h¢ld fixed asset inv¢stmen¢s with a value or£? 500.48412019.. £2,716,583). Al this dale the Inv￿lment Fonfolio comprised UK equiiies, Property reversions and commercial property. The chariiy manages its invesiments ￿ a ioial Murn basis so thai ithvesimeni income is simply one componeni of ihe ioial invesimtnt return. Reserve5 policy The charity holds only unrestricted f￿ttds. The tesetves w)licy of the Charity ts to tetain at least orte year's expenditu on ¢haTilabl¢ aaiviiics a5 cash and Irquid inv¢51ments. Ai ihe year end. ￿SerVeS ioialled £3 ?iii of which £?.5ni wag r¢pr¢scnt¢d by inv¢5tm¢nts, including propcrt1¢5_ Th¢ balanc¢ of £7QOk is coD5id¢red liquid and compar¢5 to th¢ eypendilure in ?O?O of £663k. The Irusiees include Ihis liquidiiy JM)siiion as par( of Iheir consideration of potential donations. The Charity invests in invesimeni property to generaie long iemj income. FUTURE PLANS Tli¢ cliariiy illi¢iids lo continue to fulfil lis objeas ihrough irs donaTion making policy. Pase I THE EI.I.IS CAMPIIEI.I. CHARJTAIII.E FOUYDATION REPORTOF THE TRUSTEES FOR THE YEAR EYDED 31 DECE.IIBER 2020 STRucfiiRE. GOTr'ERNANCE,IND.MAYAGE.ME.YT Governing (lo¢yment Tli¢ cliariiy is conirolled by its governing (kKwneni. a deed of ￿51 and consiii¥ies an unincorw>raied cliarity. The Ellis Campbell Charitsble Foundation i$ 8ovetned by the Deed of Settlement daied 12 December 1989. Trusiees meet twice a yeaT 10 consider gtani applieatiotts. tevi¢w investtnertl performance and discuss matters of a sirai¢¥ic and admini5traiive naiur¢. The power lo appoini new irusl¢e5 15 v¢sicd in thc eximing ￿$1¢¢5. liiduction And irAining of new lrnstte5 The Irusiees have all been Involved from betore Ihe estsblishmeni of the Ellis Campbell Chariiable Foundation. as Irusiees.tO•be. Each of the Iriisiees brings wilh Ihem speeifit relevant areas of expertise. including financial. organisaiional, policy development and le8al. Updatin8 on t*w relewani issues rel&in8 10 the Ellis Campbell Cliari18ble foundation occurs as part of Ihe a8enda of Irusiees, meetings. The indu¢iion of new ITusi¢es hos not b¢¢n an issu¢ for th¢ Ellis Campb¢ll Ch•riiabl¢ Foundaiitsn. Poli¢ies r¢l)ling 10 this will be agreed as and when is necessary a5 part of future expansion of Ihe board of Iru51ees. Risk mAnAgement The Irusiee5 are responsible for esiablishing moniioring Ihe iniernal control sysiem5 of Ihe charity. The major risk5 which may impact on lis a¢iivilies have been r¢view¢d duiing lh¢ yeir. The key risk is finan¢ial rigk.. Opernlional iisk ig considered low. The Irusiees 8re satisfied Ihai the system of iniemal controls currently in p18ce is adequaie, wliilsi r¢cogni$ing thai they are desi¥ned to m8n8ye raiher Ih8n elim¢naie risk. Intern81 eonirols are reviewed on an on¥oin8 basis as part of rhe day-io-dsy risk man88emeni process. RF.FF.RF.r+Jc-F AND ADIIINISTRATIVE DETAII.S R¢gi$tere(I CIIMrity number 802717 PrinttPRI Address Slialden Park Steadin8 Shalden Aliort Ilampshire GU34 4r)s Trustees M D C C Campbell MBE DL Mr5 L F Campbell J L C Campbell Mr5 A l Andrew Mrs l. G Montgomery Auditor5 Flarold Sharp Limiied Registered Auditor5 and Chartered Accouthiants 5 Brooklands Place Br￿klandS Road Sale Cheshire M333SD Pag¢ 2 THE ELLISCA1¥1PBELLCHARITABLE FOIIYDATJO REPORTOFTHE TRIISTEES FOR TIIE YEAR ENDED31 DECEMBER20111 REFERENCE AND AD￿lINIsTRATIvE DETAILS Solicitors Geoffrey Leaver Solicitor5 LLP 251 Upper Third Sireei Bouverie Square Central Klilion Keynes Buckinghamshire MK9 IDR BAnkers CAF BAnk Lid ?5 Kings Hill Avenue Il'esi Nlallittg Kent ME194JQ STATFIIF.Tr4T OF TRIISTF.FS' RF.SPOYSIBILITIFS The Iriisiees are reswnsible for preparing Iht RerM)n of Ihe Trnsiees and the financial siaien)enis in fLccordance with Appli¢abl¢ law and Unilid Kin¥doiis A¢¢ouniin¥ S￿ndards (United Kingdom G¢rt¢rnlly A¢¢¢pi¢d A¢wurtling Pr2¢1icel. The law 2pplicable to ¢h8rilits in England and W'ales, the Charilies A¢1 2011. Charity IA¢¢ouni$ Ènd Repoil$1 Regulations *008 And Ihe PTovisions of Ihe Irusi drtd rtquir¢$ ihe ITusi¢eg w prtpire fittancial 91aiemenis for each financial year which give a Irue and faiT view of ihe Stale of affairs of ihe chariiy and of ihe ineome and expendiiure of Ihe charity for thai period. In preparing those flnancial stsiemenis. Ihe Irusiees are required select suitable accounting policies and ihen apply them consisienily.. oi>¥erwe Ihe iiieihvds aiid piiii¥iplYs iii Ili¢ c'h4riiy SORP. make judgements and esiimaies Ihai are reasonable and Pfudeni.. siaie whether applicable accouniing 518t)dards have been followed. 5ubjeci ￿ any m8ieri81 depgnures disclosed and explained in the financial $18iemenis'. prep2re the lin8nci81 siaiemtnis on Ihe 8oin8 eon¢¢rn b&si$ unless li is inappropriate io presurne th81 the charity will continue in business. The Irust¢e$ are r¢spon$ibl¢ for keeping prop¢r &¢¢ounting r¢¢ords whi¢h dis¢lose with reasonable a¢¢uracy at any lini¢ the finaneial p05iiion ofihe charily and 10 enable Ih¢m 10 ensure ihai Ihe financial siaieTnen15 Comply wilh ilie Cliariiies A¢1 2011, Ihc Charity IA¢¢oun15 and R¢p)n51 Rcgulaiions •008 and lh¢ provisions of ih¢ Irusi decd. Tlicy arc also r¢sponsibl¢ for safeguarding ihe a55e15 of ¢h*rity and h¢n¢e for wking r¢480nabl¢ si¢ps for the prevention and dei¢¢lion of frgud and other irT¢gulariiies. Approved by order of the board of trustee5 on 14 Ociober 1021 and signed on iis behalf by.. Mrs L G Mont8omery Trust Page 3 THE ELLIS CAfvIPBELL CHARITABLE FOUN'DATIO%' srATE￿1E￿f OF FINANCIAL ACI'IIIITJLS FOR THE YEAR ENDED JI DECEMBER 2020 Unaudired 2019 Lnr¢sTfici¢d fund fun( Noie5 INCO￿lE FRO￿1 Donations and legacies 51M).000 350,000 Investment income 158,586 Total 058.586 537,517 EXPENDITUREON Chwritgble wclivitles Chariiable donation$ Charitable e.¥rrtnses 602,i20 60.770 43.314 Totil 663.090 213.429 Nel gAinOllosse$l on invesiments 387.9641 E'f ITrJCUfvlE4EXPENDI'fi,'RE) 84.057 163.8761 RFCONCII.IA TION OF FIIYDS 'rotHI fund$ brought fon¥ard 3,078,145 -3,142.021 TOTAL FUNDS CARRIED FORWARD 3 16?202 3,078.145 The notes fonn part of these financial staiemen(s Pag¢ 4 THE EI.I.IS C,IMPBELI. CIIARITfrlBI.E FOl>NDIlTION BALANJC.E SIIEET 31 DECE,1IBER 2020 Unaudited 2019 Toral funds 2020 Total funds Noie5 FIXED ASSETS Inve51rDent5 10 174,173 185,084 2,531,499 Inv¢siinenl property 2.500,484 2,716.583 CISRREPIT IISSETS tkbiors C45h in hand 19.052 1006.468 60,710 400,647 1.02S.520 461,352 CRFDITnRS ,4itiounis fallin8 due within one year IJ63,8021 199.7901 NET CtIRRÈhJT PISSETS 361562 'Il)'I'AlJ il.SSTr'TS I.L.SS CIIRRENT Llill4lL11'1ES 3,162.202 3,078,145 NET ASSETS 3 162202 3.078.145 iITrJD8 Unresiricied funds 14 3 162202 3078.145 TnTIlL FIINJDS 3 162?0? 3078 145 The f1nanriHI Slai¢ill¢nlS were approved by Board of Trusttts And authoris¢d for issue on 14 October 2021 and were signed on 115 behalf by., L G MoThlgoinery - Trii lee The r￿e$ fortn part of Ihese fjnancial statements Page 5 THE EI.I.IS CAMPBEI.I. CHARITABI.E FOIINDATIOY CASH FLOIV STATE.MEYT FOR THE YEAR ENDED31 DECEMBER 2020 Unaudited 2019 ?020 Notes Cash nows frotn optrating a¢livilies Cash genera*d from op¢rations ?93.188 1,757 Nei cash provided by optraiing activities ?9) 188 C.w5h nows from investing activities Sale of iiivesiineni property Inieresi received nividends r¢ceiv¢d J04.660 54 7.9?4 ?12.)4 j 49 10,052 Nei cash provided by investing aciivities i12638 222.444 Ching¢ cish •nd ¢i$h ¢qknlw*leni$ In Iht rtporilng Ptrlod (.'fv5h ¢ash equivHltn15 At the heginning of the reporting period 605,826 ??4 ?01 176.441 Cash And ¢ash equivalenis it Iheend or Iht reportiihg period 1006 468 400 642 The ￿￿e& fomi part of these finantLal sta￿mentS Page 6 TFIE ELLIS CAMPBFLL CFIARITABLF. FOLJI DATIOI NOTES TOTFIE CASFI FLOIV sfATEIIENT FOR TIIF YFAR E￿DED 31 DF.CE.IIBF.R 2020 RECOP4CII,IATIOTr4 OF ￿ET Jf4COT*lEI(EXPEI%DITI.'REI TO PIET CASII FI.OII' FROM OPERATING ACTIVITIES Unaudil¢d 2019 2020 Nei incomellexyenditurel for Ihe re￿rting period {#5 the St#temenl o(Fingncixl Activilits Adjustment5 (or= Revaluation (Eainsmosses on invesitneni$ Lo$￿{profit} on diswsal of fixed asset$ Interest receiv¢d Dividend5 received Decreasellincreasel in debio In¢rease1ld￿r¢aSt} in crdiio 84.057 163,8761 198.9011 10.340 1541 17.9241 41,658 264,012 440.099 1491 110,0521 296.7201 Net cR3h provided bi. operations 29i 188 757 ANAI.YSlSnF C.IIANf.ks IN FUNDS Ai 111120 Cash flow Net cash CH$h ai bank and in hand 605 826 1006 468 400 642 603 826 1 006 468 Tot*l 400.642 605,826 1,006.468 The N>ies r(wm part o(Ihese financial sthtements Page 7 -I'IIE ELLIS CAMPBELL CJIAklTABLE POI."YD..*"fioN NOTESTO TIIE FINAYCIAL STATEIIENTS FOR THE YEAR ENDED 31 DECEMBER 2020 CHARITY INFORNIATION The Ellis Campbell Charithble Foundaiion is a charity ￿gISte[ed in England and W&les. the charity's registered number is 802717 and regisieTed oirice address is Shalden Park Steadin& Shalden. Alton. Hampshire, GU34 4DS. ACCOUN-I'INC POLICIES Basis ol prtpxring Iht finAnciAI st#itmtnis The finanLial SialLmLnlS of the Lhariiy, whjch Is a public betsefji enllty under FRS 102. h8ve been prepared in accordance with the Chariiies SORP IFRS 1021 'AccouniinB and Reporiing by Charities.. Siaieineni of Reeommendtd Pracijct applicablt 10 charities p￿parIng iheir 8ccounis in 8ccordance wilh the Financi31 Reponing Siandard applicabl¢ in th¢ Llk and R¢public of I￿181)d IFRS 1021 lcffcclive l January 20191,, Finallcial Repoff ing Standard 102 The Financial Rcw)rting Siandard applicable in the UK and Republic of Ireland. and Ihe Charities Aci 2011. The fil￿nCIal siaiemenis have tr*en prepatEd under Ihe hi51orical cost conveniion, with the exception of invesrmenis which are included ￿ markei value. as modified by the revaluation of certain assets. The iru$i consiiiui¢s a Publie ilethefii Eniiiy uthder FRS 102. The ¢hariiy pres¢nis its results as a single entiiy otlly. The preseni81ional ¢urr¢n¢y is £ Sterling. liicome All income is recognised in the Siaiemeni ofFinancial Aciiviiie5 once ihe charity has entiilemeni io the funds. it 1$ pmbabl¢ thai th¢ in¢om¢ will ix r¢¢¢iv¢d and th¢ smoutht ¢an b¢ MeaSu￿d rt118bly. Exi>¢iidllure Liabiliiies are recognised as txpendilure as s￿n as Ihere is a legal or conslruciive obligalion commilling Ihe chariiy 10 thai expenditure. li is probable Ihai a Irat)sfer of economic benef115 will be required in s￿ileme1}I and the amount of the obliBaiion can ￿ measured ￿lISbly. Expendiiure ss aecounied lor on 8n accruals basis and lias been classified under headin8s ihat a88Te8aie all cost Telaied 10 the caie80ry. Where costs cannot be directly aiiribuied 10 particular headings Ihey have been allocated kn aciiviiie5 on a basis consisieni with ihe use of rewurces. Don&tions payable are payments made to third parties in the funhernn¢e of the ¢h8rii&bl¢ obje¢tiv¢s of the ¢harily. Singl¢ or multi.yeNr don8lioiis are a¢¢ouni¢d for when either the r¢¢ipieiii h45 a reasonable eipeclatioii Ih&i Ihey will rcccive ihe donaiion and ihe Irusitts have agreed w pay ihe donaiion wiihoui condiiion, or Ihe recipient has a reason#bl¢ expeciaiion Ihai lh￿ will rec¢ive a donation and any condiiion aiiaching 10 th¢ donation is oulside lh¢ conlrol of Ihe chariiy. tX>niiio￿s offcred wbjed 10 condilions which havc not bccn mcl ai Ihe year-end dale are noied a commiimeni bui noi eXpendiiu￿. ChAritAble A¢ilvilles C"0s18 of charitable activiti¢$ inrutTwI oth the tharity's ¢ducational oprr4tioths. including 5UPPOrt C05t$ and W$15 r¢laling to the gov¢manc¢ of ¢h¢ charity- Govern8nce cosis Governance costs comprise all c0515 involving ihe public aceouniability of ihe charily and 115 compliance wilh regulation and 8￿d practice. These cost5 include c051s trlaied 10 the independent examination and legal fees together with an apportiontnent of gv¢Fhead and 5UPPQrt C05t5. 'ixeil asset tJ]ve5tment$ Investmen15 are Staled at markd valu2 as at th¢ b￿ance 5h¢¢t dat¢ oth¢r Ihsn inv¢5ttnent5 not li51¢d on r¢cognis¢d stock ¢xch3ngc. which arr includ¢d al the Iru5te¢5' valuaiion. The Sral¢m¢nl of Financial Activitie5 includes the nei gains and losses arising on rewaluaiion and disposals ihroughoui the year. TgxAIio The thariiy Is exempt from tax on Ils charitable aciivjties. Page 8 coniinued... THE ELLIS CAMPBELL CHARITABLE FOL',NDATIO O I-ES"I'O'THE FINANCIAL s"fA"fEMEP4"rs- tontinued FnR"I'HE I EAR E,YDED 31 DECEMIIER 2020 ACCObN'fiNG POLICIES- Continued accounting Llnresiricied funds used in actordathce wtih iheeharitableobjeciives ai the disereiion of the Irusiees. R¢51rici¢d fund5 can only b¢ uscd for particular r¢sirici¢d purt¥>s¢s within ihc ohJ¢C￿ of lh¢ charity. Resirtctions arise when specified by the dorw)r ￿ when funds are raised for particular rests'icted purp05e5. unreAlis￿l #nd reAlistd e#ins *nil losses All gains and losses are iaken 10 the Siaiement of Finanetal Aeiivilies 8s they arise. Realised gains 8nd losses on investtnenis are Calcul￿ed 25 ihe difference between sales proceeds and opening rnirkei value Ipurchttse date if laierl. Unrealised gains and losses are calculaied 8S Ihe difference bei&¥een Ihe Inarkei value ai (he year-end and o￿nIng market volu¢ lor Pu￿h0$¢ dai¢ if i)Icr). R¢aliscd ond ynrdis¢d gains ar¢ Doi s¢parat¢d in th¢ SiaTem¢nl of Financial Aciiviiies. Financial instrumenis The charity has ¢l¢cied 10 apply ihe provisions of Section I I 'Basic Financial In51rumenls' of FRS 102 to all of tis finsnci81 instrumenis. Financial in51rumerbts are recogni5ed when the chariiy become5 party ￿ the coniraciual provisions of the insirumenl, Financial a55eis and liabilities are offsd, wiih the nei 8mounis preset)ied in Ihe financial siaiemenis, wlien Iliere is a legally enforceable right ￿ sei off the recogni5ed amounis ar¥J Ihere is an inieniion 10 5eiile on a nel basis or to realise Ihe asstl ￿ s¢ttle the IiAbility simuliir*(wsly. Bosi¢ finon¢ial asseis, which in¢ludt iradt deknoT% Othtr debtors and cash and bank balances. are initially measured ai Iransaciion price including iransaciion cosis and are subsequenily carried ai amortised cosi using the effcclive inieresi meihod. Financial a55ets ¢ia5sified as receivable wiihin one year are M arnomised. Financial liabilities and equity instruments are classifled according io the substance of ilie coniraciual 8rrnng¢menis eni¢r¢J inlts. An ¢quily insiwmetti is any ¢ot)tF8¢1 lh* eviden¢es o residual interest in ihe ass¢ts of Basic financiRI liabiliiies, including irade crediior5 #nd oiher Crediiors, Ihai are classified as debi, are iniiially recogniscd ai Iran5Rciion price un1¢55 Ihe aTrnngemeni consiiiuicg a financing Iransaciion. whcTe ilie debt insirumeni is measured 81 the preseni value of ihe fuiure paymenis discounied ai a markei raie of inieresi. Financial Itabiltiies are derecogni5ed ivhen, and only when, Ihe chariiy's contract￿1 obligations are discharged, cincelled. QT they expire. Goln% ¢onctrn Based on current Irading and fuiure expeciaiions. (he Irusitts are confideni the chariiy will continue 10 trade profitably in future periods and 8ene]xie suffieierti cash flows to meet its obli8aiions as they fall due for payment. Page 9 coniinu¢d... THE ELLIS CAMPBELL CH.4RITABLE FOI."NDATIO NOTES TO THE FINA￿'CIAL STATEMEP4TS- continueil FOR THE YEAR EYDED31 DECE.IIBER 2020 CRITICAL ACCOUNTING JI.'DGEME%L TS AND KEI. SOL'RCES OF ESTI.MATION UNCERTAINTY SigD¥ficaDt judgernentg estimxtes In ili¢ appli¢ation of ihe rhariiy's a¢couniing poliri¢5. th¢ tru51¢¢5 are T¢qUiT¢d to tnak¢ judgenienls. estimares and as5UmPtIOll5 aboui ihe carying amouni of assets and liabiliiies thai are noi readily appareni from other 50urctt. The estirllales and 4550ciaicd a55umwions are ba5¢d on hisiorical experience and other facioTS ihat &r¢ considcrd to b¢ relevani. Actual resulis may diff¢r from th¢5¢ csiimal¢5. The esiimaies and underlying &%surnplions art reviewed on ath on8oifhg basis. Revisions to ateounting estimates are reco¥nised in the period in which the esiimaie Is revised where ihe revision affects only thai period, or in ilie period of the revision and future peri￿lS where ihe revision affe¢ts tK)Ih currerti and fuiure periods. A k¢y source of e51imaiion uncertainly r¢laies ty Ihe valuaiion of iJ)v¢sinieni propertie5, wher¢ a valuation is undertaken annually a5 ai i l Deceniber by ihe Irusiees. Property valuaiions are ooe of The priiicipal uncertainties of the charity. Invesimeni propertits were valued ai L?.3?6.31 l at 31 December ?O?01?019.. £?.531.4991 and 8re shown in note I l of ihe5¢ financial slaiemeni5. DONATIONS AliD LEGACIES 1020 2019 Donations INI'b:S1 JMI.'N I INC'.VML ?o?o 2019 Rtnial in¢ome Dividend$. UK guoied equilies Ini¢rvsi on ca9h deposits 150.608 7,9?4 54 177,416 10,052 49 158.586 CIIARITABL&. F.XPF.NDITI,RE ?020 2019 Chariiable donaiions Governance costs Other charitable expenses 602.320 25.250 17,?00 663,090 213.4?9 All donations are ￿ charithble insiiiuiions. Page 10 continued... THE ELLIS CA￿lPBELLcHARjTABLE FOLNDATIOI OTES TO THE FIP4AficJAL STATEMENTS- continlle FOR I'HE YEAR ENDED31 DECEII IBER 2020 AI,'I)ITORS' RFMI IIrnFRATION 2020 2019 Fees pa>able to the charily's audi10￿ for the auditof the ehaTily's firtancial siaiemenis Other non-audil services 4.250 C.omparaiive infomiation in the financial siaiemenis is derived fitsm lh¢ charity's PTior period financial siaiem¢nis which were not audiied. TRIISTF.F.S' RF.MIINF.RATION A%1 D BF.YF.FITS Trustees are ¢onsid¢rd TO b¢ k¢y m3na8etn¢nl p¢r50nn¢l. Tru51ee5' expen5e5 ?020 2019 Tru$iees' ¢xp¢n$es The expenses incurred by I Irusltt are in relation to eniertainin8 expenses. In 2019 the expenses were incurred by 2 Iru$i¢t$ and are in ￿latIon io trnvelling e¥penses. INDEPENDENT EXA.MJNERS FEES In 2019 Ilie Charii) incurred independeni exam¢ner5 fces of £2.200. In 8ddiiion. the independent examiners were paid £1.500 for accouniancy based services. Page I I continued... THE ELLIS CAI¥IPBELL CHARITABLE FOI'.IYDATIOY NOTES TO THE FIY.4NCIAL 5rATE￿IENTs- tontbthued FOR THE YE.4R ENDEDJI DEcE￿[BER202O FIXED ASSET IN1'Esr￿i£NTS Listed investment5 I,IRKFT I'ALUE Ar l January ?O?O Revaluaiions 185,084 Al i l D¢¢¢mb¢r 2020 174 173 YET BOOK VALUE Ai Jl December ?020 174.173 Ai 31 December 2019 185,084 There were no invesinienl ￿$¢￿ outside the LK. INVESTfvIFYT PROPFRTI. FAIR VPILUE Ai I january ?O?O Di5posa15 Revaluaiion ? 531,4fJ9 (J I 5,0001 109,812 Ai 31 December 20?0 NET Book I'ALUE Ai i l December 2020 Al 31 December 2019 2.531.499 Inve51meni propertie5 weTe revalued ai 31 tkcember 20•0 by ihe Iru51ee5 ￿ open madnsibililies in accordance with ihese re4uiremenis. Il'e believe Ih81 ihe 8udii evidence wc have obiain¢d is sulTi¢i¢nl and appropTiai¢ 10 providc a basis for our opinion. ()Iher matter CcTriiipirxiive intomiaiion in ik financial stsiemtnts is deiiv¢d fTom ¢hariiy's prior peti(0 finAn¢ial $18iemenis which were not audited. ('onclu5ioDs relatin% to going ¢onrern Iii aiidiliii¥7 Ihc finaiirial Slat¢tTi¢iilS, w¢ have ¢on¢lud¢d thai ih¢ Irusitts. use orth¢ going ¢on¢¢rn bASiS ofa¢wunliiig in the prepardiion of the financ¥al 51alements is appropriate. E19sed on the work WE h?v¢ pertorm¢d. w¢ h•v¢ not id¢nlified any mai¢ri81 un¢eriainll¢$ r¢laliiix to ¢VCnls or ¢ondition5 Ihai, individually or ¢oll¢¢iively. Inay ¢ast signifi¢4ni doybi th¢ ¢118rity's ability to ¢ontinue as a going ¢on£em for a period of ai leasi twelve month5 from when Ihe financial siaiemenis are autknrised for issue. Our resp)ll5ibililies and Ihe responsibililits of Ihe trustt¢s with ￿SpeCt 10 going con¢ttn art described in the relevant S¢¢lions of Ihis reFKIrt. ()ther InformRtl(pn Tlie Irusiees are responsible for (he ￿her infom?aiion. The ￿her inform&ion comprises ihe infonnaiion included in the Annuol Report, other Ihan Ihe finw)¢ial stsi¢menlS and our Rep)rt of Ik Indep¢ndenl Auditots ther￿n. Our opinion on Ih¢ finanriol $i¥t¢m¢rblS do¢$ not rover lh¢ o¢h¢r iAfoTlllllion and. ex¢¢pi to the exteni otherwise ¢xplicitly 51alcd in our r¢port, w¢ noi exp￿SS any forrTr of assurance wn¢lu51011 therwn. In conD¢clion with our audit of th¢ financi#l stal¢m¢nls, QUT r¢5wn5ibilil)' 15 to r¢Rd th¢ oih¢r iiifonllalioii and, in doing $0, ¢on5ider wheiher the oih¢T infomialion is m*eriolly in¢onsi51ent wilh the financial stateinent5 or our knowledge obiailled in the audit or oih¢rwi5e appears lo b¢ maierially Inisstaied. If we id¢niify such material incon51s1encie5 or oppar¢nl material mi55tal¢tnen15. w¢ are ￿qUI￿d to d¢termin¢ ivh¢ih¢r thi5 giv¢5 ri5¢ to 8 mal¢Tial Iiiis51al¢mciit iii th¢ rinancial slaieinenis iheinselves. If. based on ihe work we have performed. we conclude thai ili¢re is a maierial missiateinent ofihis oihtr information, we are required io re￿rt ihai faci. Il'e hawe noihing io rewn in Ihis regard. NIRtters which we are required to reporl by exception 'e have nothing to rewrt in respect of the folloiving matters where the Chtyrities (Accounts and Rewrt51 Regulotion5 2008 requires us io report io you il, in our opinion.. Iht inforination given in the R¢Fx)n of ihe Tw5tces is irKonsi51enl in any Inat¢rial Tcsp¢c¢ with the finaiicial siaieinents. or sufficient accounting record5 have not been kept., or the financial 51atetnen15 are not in agreement with the accounting retotds and return% or we have not received all (he infom)81ion and explanaiions Wt require for our audil. REPORT OFTHE INDEPENDENT ALDITORSTO THETRLSTEESOF TIIF. F.LLIS C-A￿7PBF.LL C-11.4RITABLF. FOI.'ND.4TION RespoD$ibilities of iru5tee5 As ¢xplain¢d mor¢ full) in th¢ Sta*tn¢ryt of Tru5t¢¢5' R¢5wn51biliii¢& th¢ tnjsttts are Teswn5ibl¢ for the pr¢paraiion of Ihe financial 51aiem¢nis which give a and fair vi¢w. and for such inieTnal conrrol as ihe rrusiees deieniiine is nec¢59ary ￿ enabl¢ ih¢ preparaiion of financial 5tat¢m¢D¢5 that ar¢ fr¢¢ froTJ) maierial missiatenient. wlieiher due to fraud or error. In prparing th¢ financial Slal¢m¢nlS, th¢ ar¢ r¢swnsibl¢ for ass¢ssing th¢ thaTity's abiliry to tonlinu¢ os a ¥oing toncern, disclosing. as applitable, matters rtlaied to going toncern and using the going toncern basis of accountin¥ unless the trustees either intend to liquidalt rhe chariiy or lo cease operaiions. or have no realistic alternative but lo do 50. Qui. re5PQll5ibililie5 for th¢ Audit of the fIrJa￿ti&l SIXte￿entS Ve liave been appoinied as auditors under Section 144 of The Cliariiies Aci ?01 l and rewn in accordance willi the Aci nd relevant regulations made or having etFeci ihereunder. Our obj¢ciives are to obtain reasonable assurnrte¢ atrKxJi whdh¢r the firLancial st&iemerti$ as a whole are fiv from tnarerial Tnissiai¢Tnent, wheiher due io fraud or erroT. and io i$sue a ReJK)ff of the ItLdependent Auditors thai includes our opinion. Reasonable assurance 15 a high level of assurdnce. bui is a guardniee thai an audii conducted in accordancc witli ISAS ILK) will always drf¢ci a njaierial ffji551ai¢m¢ni when li ¢xis15. ,Mis5tai¢m¢nls can aris¢ from fraud or error and are considered maieTial if. individually or in die aggregaie. Ihey could reasonably be expecied to influence ihe economic decisions of users taken on Ihe b8sis of Ihese finaticial siaiemenis. InYgulnrili¢$, including frAud. are in$ian¢es of non.¢omplian¢e wilh laws and Tegulations. l¥,¢ design pro¢¢dure9 in line wilh our respon$ibiliTies, outlined aEove. io dMe¢T mai¢rial mis$iaiemenis in re$pe¢i of iryegularilies, in¢luding fraud. The exieni to which our procedure5 are capable of deieciing irregularities. including fraud 15 deiailed below.. ()ur approach to identifying and a5se5sing the risks orM￿eT181 misstatement in respeci of irregularities. including fiEud and non-compliance with laws and r¢8ul*ion& w&$ ¥ follows.. lh¢ ¢n828elTi¢iII pai'Lii¥r ¢ii%ure(l ihut the tn8a8emeni team collectively had the 8ppmpriaie conip¢iènce. cap3biliiie$ and skills io id¢niify OT re¢ognise no#-¢omplian¢¢ wirh applicable laws and fegulaiions.. we idtniilicd ihe law5 and regulaiions Applicthble 10 lh¢ chaTily Ihrough discussions wilh managemenl and from our experien¢¢ of ihe ¢harily $e¢ior: we locused on specific laws and regulaiions which we considered may have a direci maierial effect on Ihe financial sialemenis or Ihe operaiions of Ihe chariiyb includ>ng the Chariiies 21Jll. dath proieciion, anri-bribery, cnvironmenlal Rnd healih and safely l¢gislaiion.' we a5se55ed tlie extent of compliance with Ihe laws and Tegulaiions identified above through making enquiries of management and inspecting legal correspondence: and * identified laws and regula110115 were communicated within the audit team Y¢8u18rly and the team remained 81¢rt to inston¢¢s of Don.¢omplion¢e ¢hToU8￿yf th¢ audit. V¢ g55csscd th¢ 5u$¢¢piibiliiy of Ihc Chariiy's fityan¢ial slaiemeois ro mai¢rial Tnisstit¢Tneni, in¢ludiog obtaining an undersianding ofhow fraud might occur. by.. making enquiries of management as to wh¢rE they eonsidered Ih¢r¢ was SUSC¢Plibility to fraud. th¢ir knowl¢dg¢ of actual, sU5P¢Ct¢d or all¢g¢d fraud," 3nd onsid¢ring rhe internal conirols in platt ￿ tniTig4i¢ri5k5 Of fraud and non-compliancc wilh laws and regulaiions. To address ihc risk of fraud through tDaDagcm¢nl bia5 and override of conlro15. W¢= perfonred analytical procedures kn ideniily any unusual or unexpecied rela(ionships; iestcd joumal entries 10 ideniify unusual ir&nsaciions: assessed whether Judgements and assumptions made in deiemiining the accounting estimates sei out in note 2 were indicative of potential bias: and inv¢stigal¢d th¢ rationale b¢hind 5ignificanl or unusual trary5aCtioDs. RFPORT OF THE INDF.PF.NDF.YT AUDITORSTOTHE TRVSTEESOF THE ELI.IS CAhlPBELI.CHARITABLE TrOLINDATIO In response io the risk of irregularities and non-compliat)ce wilh laws and regulaiions, we designed procedures which included, bui were not limited to.. agreeing r)nancial siaremet)I dlsclosures 10 underlying SUp￿rtIng (knumentsiion- reading the tninules of rneeiings of those charged wilh governance. enquiring of management as Io aclual and w>tenlial Iiligaiion and tlaims,. and Ther ar¢ inhereni limiialions in our audii pr￿edUres described a￿Ve. The more rrnoved ihai law5 and regulations are from financial ITan5aciions, Ihc 1¢5s likely it 15 Ihai iv¢ would ircom¢ aw3r¢ of non-wtnpliancc. Audiiing siandards also limit the audii proceduTe5 required ￿ ideniify non-compliance with laws and regulaiions io enquiry of the irusiees and orher management and inspecrion of regulatory and legal correspondence, if any. Material missiat¢tnenl$ thai ar2$¢ du¢ to fra￿1 can be harder 10 deieci Ihart those thai arise from er￿>r as Iliey may involv¢ d¢lib¢rai¢ conc¢olTn¢nt or wllusion. A further description of our resw>nsibiliiies for the audit of ihe financial sraiemet)Is is locaied on Ihe Fiiiancial Rewriing Council's website ai www.frc.OTg.uk,'audiior5respon5ibiliiies. Thi5 descriprion forn15 part of our Report of Ilie Ind¢pendeni Audiiors. Use of our r¢i)orl I li15 report is tnade golely 10 Ihe ¢hariiy's Iru•tts, as & kndy. in wilh Part 4 of lh¢ Charill¢S (Accounis and Report51 Regulaiions •008. Our audit work h&$ been undertaken so ihai we might siaie kn ihe chariiy's Iru51ees iliose mailers we are required 10 siaie 10 Ihem in an auditors. re￿ and for no other puryxx. To tlie fullest exieni periniiied by law, w¢ do noi accept or a5suTnc r¢sFK>nsibilily ￿ anyon¢ oih¢r Ihan Iht charity and the chariiy's Irusic¢s as 8 body, lor our audit work, for Ihis report.or lor Ihe opinions we have forned. So-f C.hrisiopher Wri¥hion (Senior Siaiulory. Auditor) For and on behalf of Ilarold Sharp Limiied Registered Auditors And Chartered Accountsnts F.ligible io aci a$ an audiior in itrms ofseciion 1212 ofihe companies Act 2(K)6 5 Hrooklands Place Rrooklands Road Sale Clieshire 1_1.3 .3SD Daie..