THE ELLIS CAMPBELL FOUNDATION
ANNUAL REPORT FOR THE YEAR ENDING 31[st] DECEMBER 2021
| Education | Heritage | Other (ad hoc) |
Youth | Total s |
||
|---|---|---|---|---|---|---|
| Hampshire | No of grants |
1 (NIL) | NIL (1) | 1 (9) | 1 (9) | 3 (19) |
| £k | £3,000.00 | £0.00 | £500.00 | £200.00 | £3,700.00 | |
| Other areas | No of grants |
NIL (NIL) | NIL (NIL) | 6 (7) | 2 (5) | 8 (12) |
| £k | £0.00 | £0.00 | £12,200.00 | £5,500.00 | £17,700.00 | |
| Perthshire and Scotland |
No of grants |
NIL (NIL) | NIL (NIL) | 3 (2) | NIL (2) | 3 (4) |
| £k | £0.00 | £0.00 | £7,460.00 | £0.00 | £7,460.00 | |
| London | No. of grants |
NIL (NIL) | NIL (NIL) | NIL (1) | 1 (6) | 1 (7) |
| £k | £0.00 | £0.00 | £0.00 | £1,000.00 | £1,000.00 | |
| Totals | No of grants |
1 (NIL) | NIL (1) | 10 (19) | 4 (17) | 15 (42) |
| £k | £3,000.00 | £20,160.00 | £6,700.00 | £29,860.00 (£602,320.00) |
Notes: 2020 figures in brackets for comparison
There were 15 (42) recipients of a grant this year with a total sum of £29,860.00 (£602,320.00) donated.
REGISTERED CHARITY NUMBER: 802717 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENI'S FOR THE YEAR ENDED 31 DECEMBER 2021 FOR ELLIS CAMPBELL FOUNDATION
ELLIS cALBELL FOUNDATION CONTENTS OF THE FINAf4ciAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202] Page Report Of the Trll$tee$ Report of the Independent Auditor5 Stat¢ment of FiNanci81 Actlvities B#laRce Sheet Ca$h Flojy Statement Notes to the Cgsh Flow Statement io Notes to the FinaDcial Ststements 11 to 17
ELLIS CAMPBELL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 The tn]stees present their report with the finan¢ial 5tatetnents of the charity for the year ended 3 1 De¢e]nber 2021. Th¢ trllstees have adopted the provisions of Accountlllg alld Reporting by Charities.. Stsicmcnt of Re¢ommended Practice applicable to charitics preparing their accounts in accordance with the Financial Reporting Stsndard applicablè in the UK lind R¢publi¢ of Iieland IFRS 102) (cffective l January 2019). OKIECTIVES AND ACTIVITIES Objectives and Under the ternis of the settlement, trustees are able to apply the lld$ io any charitabl¢ pury>ose and in su¢h ]nanner as the trustees may from time to lime in their di.%cretion deterinine, with special refer¢ntt io supporting young people through genuinely youth led proje¢ts acros% ihe UK. In planning IheiT dollations for rhe year they kepi in mind the Charity Cotntnission's guidance on public benefit at their trn$tee meetings. making policy The fi]nds arc disttibutcd across to build youth power and leadership systemically through youth I1 power based learning and development opporninities for young people with a focus oll supponing young leaders from tninoritized attd marnaliSed backgrounds outside of Greater London, This is admitsisler from the London office with applications then being presented to the trustees at bi-anrtual trustee meetings. ACHIEVEMENT AND PERFORMANCE Hoiv our attivitie$ deliver public beneflt ID pursuance af its Gharitable aims, thc chaty gives donations to fund a wide range of activities. The trustees consid¢r that these activities, sumn]&rised above, providc bentfit both to those receiving the donations and the wider conynunity. Thc charity continues to fulfil its. objects through ils donation making policy and the trustees regularly monitor its achievem¢nt. The trusle¢s feel that the objective5 of the chariiy have becn met and the public have benefited from its ctivilies durin8 the year. FINANCIAL REVIEW Financial posltlon Totsl income from donations aDd investments for th¢ yearamounted to £1,148.462 (2020.. £658,586). The charity made 15 donation5 during the year totallin8 £29,860 {2020.. 42 donations totalling £602,320}. The average donation was £1.99012020.. £14,341}. Donations appear lower in 2021 because the 2020 donations included a number of multi-year ¢ommitmcnts. Investn]ent poliey objectives The tharity has no restrictions on Éts powers to invesL The policy of the tru$t¢es is to seek io maximisc totsl return, whilst mainr8ining the real value uf the portfolio and llot subjecting it to undue risk. TTUStees revi¢w inYe5trnent perfomance at each meeting. and their policy at Ivdst anllually. At 31 December 2021 the charity held fixed asset invesiments with a value of £3.508,93712020'. £2.500,484). At this date the investment portfolio ¢oniprised UK equili¢5, PtopeLty reversions and commercial property. The charity Manages its investments on a totsl remrn basis so that investmenl itt¢ome is simply one component of the total investment return. Reserves policy The chariry holds only unrestri¢ted nds. The resetves policy of the ChaTity is to retain at least one year's ¢Apenditure on charitable a¢tivitie5 a5 cash and liquid invesm)ents. The Charity othernvtse invests its ndS in inv¢5tment propety to generatc long i¢mi income. At the y¢aT end reserves totall¢d £4.4in of which £3,5Tn was represented by investments, including prop¢ili¢s. The balallce of £900k is considered liquid and compares io th¢ exndItre in 2021 of £59k. The trustees include this liquidity position as part of their considerdtion of potential donations. FUTURE PLANS The charity intends to coDtinu¢ to fulfil its objects through its donation making policy. Page I
ELLIS CAMPBELL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 202] STRUCTURE, GOVERNANCE AND MANAGEMENT GoverniDg document The ehari(y is controlled by its governing document, a d¢ed of trust at)d ¢onstitutes an unincorporated charity. Elli6 Campb¢ll Foundation is govcrned by the Deed of S¢ttlement dated 12 December 1989. Trustees nieet twice f4 year to consider gTant application& review investment p¢rfornMnce and discuss tn8tter5 of a strategic gLd athninistrative nature. The power to appoint new trllstees is vested in the existing ttustees. Induction and tra5nin% of new tru$tee5 The trustees have all been involved from before the establishment of the Ellis C&mpbell Foundation, as trustees-to-bc. EaLh Of the tnJstee$ brings with th¢m specific relevant areas of exp¢rtis¢. including financial. organisational. policy drv¢lopm¢nt and ltt¥al. Upda12ng on new Eelevaut issues relating io the Ellis Campbell FouDdation occurs as part of the agenda of trnstees, meetings. The induction of new trustets has not been an issue f(>r the Ellis Campbell Foundation. Policies relating to this will be agreed as and when is nece8sary as part of future expansion of the board oftrnsiees. Risk management The tTUStee5 are responsEble for e5rablishitLg and monitoring the illtcrnal control systems of the charity. The major risks whieh Tnay impa¢t on it5 activities have been reviewed duTing the year. The key risk is financial risk. operatlonal risk is Considered low. The trustees are satisfied that the System of internal controls currenily ill place is adequate, whilst recognising that they are designed to manage rather than eliminate risk. Internal Controls are reviewed on an ongoing basis as part of the day-to-day rith managemellt process. RF.FLRENCE AND ADMINISTRATIVE DETAILS Reglstered Chariry number 802717 Principal address Shalden Park Steading Shalden Alion Hampshire GU34 4DS Trustees M D C C Carnpbell MBE DL Mrs L F Campbell J L C CaTnpbell Mrs A J Andrew Mrs L G Montgomery Mi&$ l Andrew (appointed l October 20221 H Andrew (appointed l October 20221 W Andrew (POInted l October 20221 Allditors Harold Sharp Limited Registtrtd Auditors and Chartered Accountants 5 Brooklartds Placc Brooklattds Road Sale Cheshire M33 3SD Pag¢ 2
ELLIS CAI¥(PBELL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 REFERENCE AND ADMINISTRATIVE DETAtLS Bankers CAF Bank Ltd 25 KEngs Hill Avcnue Kings Hill West Malliug Kent ME19 4JQ STATEMENT OF TRUSTEES, RESPONSIBILITIES The trusttts are responsible tor preparing the Report of the Trustee5 and the financial statements in accoidanrc with applicabl¢ law and Unitrd KingdoTn Accouttiing Standards (United Kingdonj Generally Accepted Accounting Prartice). The law appli¢able to chariiies in England and Wales, the Charities Act 2011. Charity (Accounts and Reports) Regulations 2008 and the provisions of the trst deed requires the trnsiees to prepare financial statements for each financial year which give a tNe and fair view of the stste of affairs of th¢ charity and (>f the income and expendire of the charity for that period. In preparing those finan¢ial statetnents., Ihe tru8tees are requiTed to %elect suitable acci)UAtillg policies and thell apply thetn consistcntly. observe the methods alld principles the Charity SORP; makc judgements and estimates that are reasonable and prudent. stste whether applicable a¢couiiting standards have been followed. sllbjeci to any material departures dis¢105ed and ¢Aplained in the finan¢ial statemcnl$' prepare the financial 5tateTnents on iiie going concem basis unless li is inappropria¢e w presume that the chaTity will continue in business. The trnstees are re5PODsible for keeping proper accounting reci)rds which disclose with re4sonable accuracy ai arly time the fjnantial position of the charity and to enable tbe]n to ensure that the fanCial statement5 comply with the Charities Act 2011. th¢ Charity (Accollnts and Reports) Regulations 21)08 and the provisions of the mst deed. They are also responsible for safeguarding the 2$5¢ts of thc ¢haTity and hence for taking Eeasonable Strps for the prevention and detection of fraud and other irregulaTitits. Approved by order of the board of tryslee5 on . signed on its behalf by.. MTS L G Montgotnery - T .ite¢ Page 3
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ELLIS CAMPBELL FOUNDATION OpÈnlon We have audited the f]nancial Statements o( The Ellis Campbell Foundation {th¢ 'charity'l EOT the year e]xled 31 Decembei 202L whi¢h comprise the Statement of Financial Activittes, the Balance Sheet, the Calh Flow Statement and noies th the financial statements. including a summary of signifi¢ant accounting policies. The financial reporting framework that has been applsed it] their preparatitsn is applicable law and United Kingdom Accountirag Standards (United Kingdom Generally Ac¢¢pied Acci)unung Practic¢l. In our opinion th¢ financial stat¢ments'. give a trne aThd fair vIew of the stst¢ of the charity's affairs as at 31 De¢¢mber2021 and of ils irt¢ome and expenditure for the year then Cnded,. have been properly prepared in accordance with United Kingdom Generally Accepted A¢¢ounting Practice. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Inlemational Standards on Auditing {UK} (ISAS {UK}l and applicable low. Our r¢sponsibilities under those Sthndards are further described in the Auditors, resp()nsibilittts for the audtl of the finan¢ial 5tatem¢ntS section of our report. We are independent of the charity in accordance with the etlijcal rcquiTero¢nts thdt are Ttl¢vant to our audit of the financial statetnents in the UK, including the FRC'S Ethical Standard. and w¢ have fulfilled our oth¢r ethical r¢spvnsibilitic$ in accordanc¢ with these r¢qUiteenTs. We believe that the audit eviden¢¢ we have obtained is sufficient appropriate to provid¢ a basis for our opinion. Concluslons relating to going ton¢er In auditing the financial statements. we have Concluded that the ttustees, use of the going concern basis of accountit)g in the preparaliotj ol the financial Siatcments is appri)priatc. Based on the work we have perfomied, we have not identified any Tnaterial unrertainties r¢latingT to ev¢ttts or conditions thtt. individually or collectively> may cast significant doubl on the charity's ability to continue as a gu8 concern for 8 p¢riod of at l¢asi twelve Tnonths from when the fmallci ststements aTe authorised f(>r issue. Our responsibilities and th¢ ]Ysponsibilities of the trns¢ees with respe¢1 to going concem are described in th¢ relevant sections of thi5 repori. Other Information The trustees are responsible for the other info]rnatioll. The other information Lon]prises the inforniation included in the Annual Repo¢ other than the financial statcments and our Repon of the llldep¢ndent Auditors thereon. Our opinion on the financial statetnents does E)Ot cover th¢ other infomMtion and. except to the exteni othenvise explicitly stated in our repon, we do not express any forni of assurance conclusion thereon. In connection with Dur audit of Ihe financial siatement5. our re$poThsibility is to read the other infoTmation and. in dning so. con%ider whether the other infoTmation is matciially inconsi%tLnt with the financial StsteMen OT our knowledge obtained in the audit or otherwise dppeaTS to be m&t¢rially misstated. If we identify such matenal inLonsisteneies vr apparcnt material misstat¢ments, we are rEquired io determine whether this gives rise to a material mi5Statement In the financial sttttcments themselves. If. b¢d on the work we have perfoLrne(L we conclude that there is a inateriai misstatement of this other inforntIOll, we are required to report that fact. We have nothing to report in this regard. Matters which we are required to report by e%<eptiTrn We have nothing to repoTt in re$pe¢i of the following TnatteTS where the Chariries (Accounts artd Reports) Regulations 2008 requires u5 to rerK)rt to you if, in our opinion.. the Infornution given in the Rq)ort of the Trusiees i5 illconsistrnt in any matcrial respt¢t with the fJnan¢ial statements. or sufficient accounting records have not becn kept,. or the Findocial statements are net in agreement with the a¢wunting rccords returns. or we have not received all the inforrnation and explanations we require for our audit. Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ELLIS CAMPBELL FODNDATION Respoll5ibilitie5 of trn$t¢es As explained more fvlly itt the Statemenl of Trustees, Responsibiliiies, the trustees are responsible for the preparation of th¢ finaTLcial staiemenrs which give a true and fair view. and for surh internal control as the trustees deiemiine is necessary to enable the preparatioTh of financial statements that are f¢ froin material missta¢¢en¢ whether due to fraud or eTror. Jn pr¢parittg the financial statement5, th¢ trustees are responsible for assessing the charity's ability to coniInue as a going concern, dis¢losing, as applicable, tllatters r¢laled to going concern and using the going conceTn basis of aecounting unless the trnstees either intend to liquidate the chariiy or to Cvdse operations, or have no r¢alistic altetIiatiYe bui to do so. Our responslbilities for the of the fiThAneial statements We hdve b¢¢n appointed as auditVTS under Section 144 of the Chariti&8 A¢t 2011 and report irt accordance with the ALt and relevant rcgulations Inade or having eff¢ct thereunder. Our objectives are to obtain ffasonable assurhnee about whether the fittantTral statements as 2 whole are free from ]naterial misstatemenL wheiher due to fraud or error, and to issue a Report tsf the Independent Auditor5 that includes our opinion. Reasonable assurance is a lJigh level of assuranee, but is not a guarantee that an audit conducted in accordance with ISA8 (UK) will always d¢ie¢t a material misstaiemettt whcn it exists. Misstatements can arise fron] frwd or error and are ¢onsidered material if, individually or in the a88r¢gate, they could r¢a8onably be expected to influence the economic decisiort% of users taken on the basis of these r]rtanLial statement$. Irr¢gularities. including fraud. are instAnces of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect maleridl misstst¢ments in respe£t of irr¢gUI7tIe5. including traud. Our appttsach to iderltifying and assessing the risks of MtrIal misststement in respe¢t of irregularities, including fraud and non-compliance with laws and regulations. was as follows.. * the engagement parn)er ensured that the engagement teatn collectively had the appropriate competence. capabilities and skills to idcntify or r¢cognisc non-compliance with applicablc laws and regulations., we identifjed the lawg and regulations appli¢able to thc charity thr(>ugh discussiotts with Tll8n3gemenl and fT OUT experience of the charity gecior., we focused otl specjtic laws and regulations which we Considered may have a direet material effect on the financial 51atements or the operdtions of the charlty, JncludiTrg the Charities Aci 2011, data protection. anti-bribery, enviro]]mental and health and safery legislaiion., we as5e55¢d the exleni of Lompliance with th¢ laws and regulations idelltificd above through making enquiries of maii&geTn¢nt and inspecting legyal correspondence; and * identified laws and regulations We coTnmunic2ted within the audit team regularly and the team remained alert to We assessed the sllscepiibility tsf the charity's financial Statements to mateTiai l5stat¢M¢nt, including obtaining an under5talldin8 of how traud n]ight occur, by.. making enquiries of managemenl as io where they Considered there wa$ sus¢epiibility to fraud, their knowledge of actual..8usp¢¢ted or allcBcd frdud., and considering th¢ intellw] controls in place to mitigate risks of fraud and non-compliance with laws and reglllations. To address the risk of fraud tbrou8h management bias and oveIde of controls. we.. perfo[ed analpical predureS to identify any unusual or unexpected relationships. tested journal entries to identify unusllal transactions- assessed whether judgetncllts and assumptions made in deteTminin8 the a¢¢ounting estimates sei out in note 3 were In(Iicative of potenlial bias; and investigated the Taljonale behind sigtjificani or unusual transaciions. Pa8¢ 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ELLIS CAMPBLLL FOUND.4TION In TegtK)nse io the ri%k of irregularities and non-compliance with Idws and regulalions, we desiÈwed pro¢edures which inLlud¢d, bul weie not limited io.. a8r¢eing fmancial stat¢ment disclosures to underlying supporting documentation. reading the minuies of m¢etitLgs of those Charged with governance. and enquiring of management as to actual and p)i¢iitial litigation and ¢laims. There are inherertt limitations in OUT audit procedures described above. Th¢ more rem()ved that laws and regulations are from flliancidl (TanbitLtions, the less likely it is that we would be¢ome aware of non-rornpliance. Auditing standards aLso I11t the audit procedures required to identify non-complitnce with laws art(1 regulations to enquiry of the trustees and other inanageineDt and inspectÈon of regulatory and legal cotrespondthc¢, if ally. Matetial Tllisstatements that arise due to fraud can be harder to detect than thoge that arise frorn error as they miy involve deliberate conccalment or ¢ollusion. A further descriptiott (>f our responsibilities for th¢ audit of the fjnancial statement$ 15 located OD the Financial Reporting Council's wcbsite at www.fvc.org.uklauditOTgresponsibilities. This de$¢nption forms part of our Report of the Ind¢pendent Auditors. Use of our report This report is made solely to the ¢harity'S tru8te&%, as a body, in accordance with Part 4 of the Chartties (Accounts and Reportsl Regulations 2(K)8_ Our audit work has been undertaken so that we might state to the charity's trustees tho$¢ matters we are required to State to them in an auditors, report and for oiher PUTpose. To the fvlle5t cxtent pemilted by law, we do not aCLept or assume responsibility to anyone otheT than the charity and the charity'5 trusttes a5 3 body, for our audit work. for this repon, OT for the opinions we have fonned. Christopher Wrighton Iscnior Siaiutory Auditor} For and on behalf of Harold Shaip Limited Registered Auditors and Chartercd Accountants Eligible ¢0 act as an auditor in tertns of Section 1212 of the Cotnpanies Act 2006 5 Brooklands Place Brooklands Road Sale Cheshire M33 3SD Date.. 31 October 2022 Page 6
ELLAS CAMPBELL FOUNDATIOIY STATEMENT UF FINANCIAL ACTIVITIES FOR THE YEAR ENDF.D 31 DECEMBLR 2021 2021 Unrestricted rund 2020 Totrl funds Noies INCOME AND ENDOWMENTS FROM Donation5 and lega¢i¢s I,000,(XK) 500,000 Investment income 148,462 158,586 Total 1 148,462 658,586 EXPENDITURE OLN Charitable activities Charitable donatlollg Chariiable expenses 29.860 29.331 602,320 60.770 Total 59.191 663.090 Nel gains on investments 188 NET INCOME 1.277,526 84,057 RECONCILIATION OF FUNDS Tot funds brought forward 3.162.202 3,078,145 TOTAL FUNDS CARRIED FORWARD 4 439 728 3 162,202 The note$ fomi part of thes¢ financial ststemelltS Page 7
ELLIS CAMPBELL FOUNDATIOIY BALANCE SHEET 31 DECEMBER 2021 2021 Total lunds 2020 Tolal funds Notes FIXED ASSETS Inyfstments Inve8tm¢rtts Investment ptDpety 1,069,649 2,439.288 174,173 2 326,311 10 3,508.937 2,500,484 CURRENT ASSETS Debtors Cash in hand 50,737 1073.598 19,052 i (M)6 468 .124,335 1,025,520 CREDITORS Atnounts falling due within one year 12 1193.544) (363.8021 NET CURRENT ASSETS 930 791 661.718 T(YfAL ASSETS LESS CURRENT LJABILITJES 4,439.728 3.162,202 NET ASSETS 4,439.728 3,162,202 FUNDS Unrestricted fL]nds 14 4.439 728 3.162202 TOTAL FUNDS 4.439.728 3 162.202 rinancia statements were approved by the Board of Trustees and authorised for issue on wer¢ signed on Jis behalf by.. L G Montgomery- Trus The notes fomi part of these fittancial statem¢ntS Page 8
ELLIS CAMPBELL FOUNDATION CASH FLOW STATEl¥tEP4T FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Notes C&sh flows from operating activltlts Cash generai¢d from operations 876 133 293.188 Net cash provided by operating activities 876 133 293 188 Cash flows from lttvestlng aetlvlties Purchase Of fixed asset invesiments Salc of fixed asset investments Sale of investnient property Inttrest received Dividends receiveAI (1.013,595) 193.397 304,660 54 Net Cash (used inyprovided by investing activiti¢s 809 003} 312 638 Change in cash &nd Cash equivalents in the report5nE period Cash and cash equivalent5 at the be2iDnillg of the r¢porling period 67,130 605,826 1,006 468 400.642 Cash and ¢a$h ¢quSvalents at the end of the reporting period 1073 598 1006 468 The notes form part of these financial statemen(s Pagc 9
ELLIS CAMPBELL FOUNDATION NOTES TO THE CASH FLOW STATEMENT FOR'IHE YEAR ENDED 31 DECEMBER 2021 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPEIL4TING AcrJvt'riEs 2021 2020 Net income for the reporting period (as per the Statement of Financial Activltl¢sl Adjustments for- Net gainslprofit8llosse5 on investments Interest received Dividends receivcd (Increa5e)Idecrease in debtors {Decreasellincreast in creditors 1,277,526 84.057 (188,2551 {88.5611 {541 17.9241 41.658 264.012 (31,6851 170 2581 Net cgsh provided by oper8tiot)$ 876 133 293,188 ANALYSIS OF CHANGES IN f4ET FUNDS At 111121 Cash flow Ai31112121 Net cash Cash at ballk and in hand 1,006,468 67.130 1.073,598 1,(106 468 67.130 1073,598 Total 1006 468 1,073 598 The noies form part of these financial statrments Pagc 10
ELLIS CAfdpBELL FOUNDATION r40TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 CHARrrY INFORMATION The Ellis Carnpbell Foundation is a charity registered in England and Wales. the eharity'5 &T]st¢red number is 802717 and registered office addTCSS is Shalden Park Steading. Shaldett. Alton, Hampshire. GU34 4DS. ACCOUNTING POLICIES B951s of preparing the flnaneial stAttment5 The financial statements of the chariry. which is a publi¢ benefit entity under FRS 102, kmve been pr¢pared in acroidance with the Charities SORP IFRS 1021 'Accounting and Reportin8 by CharitLes'. Staiem¢nt of Recommended Prartice applicable ¢0 charities preparing their 2ceounL% in accordance with the Finantial Reporting Stsndard applicable Jn the UK and Republic of Ireland IFRS 1021 leffective l January 2019}', Financial Reporting Standard 102 'The bin4nLial Reporting Stsndaid applicable in the UK and Republic of Ireland. the Charities Act 2011. The financial stat¢Tn¢llts have been pt¢pured under the historical c(>st ¢OnVenti with the exception of investments which are included at market value, as modified by the revaluation of certain 8&sets. The trust constitutes a Public Benefit Entity under FRS 102. The ¢bariiy presents its results as a single entity only. The preseniational CUTrency is £ Sterling. Income All income is recognis¢d ID the Statement of Financial Activities oncc th¢ chatity has entitl¢ment to the funds, it is probable that the income will be received and the amount catt be measured reliably. Exp¢ndlture Liabilities arc recognised as expenditure as 50011 as there is a legal or ¢onstruciive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefit5 will be required in settlement aod the amounl of the obligaiiLlrt bc measured reliably. Expenditure is accounted for on an acLruals b4sis and has bccn ¢las5ified under htradings that aggregate all cost related io the category. Whcre costs cannot be directly attributed to particular heading5 tbey have been allocated to dctivities on a basis consistent with thc use of resources. Donations payable are payments made to third parties in the furtherart¢e of the charitsble objectives of the Charity. Single or multi-year donaiions are accounted for when cither the recipient has a reasonable expectstion that they will receive the donation and the trustees have agreed to pay the dtjnation wEthout cortdition. or the recipient has a reasonablc expectation Ihat they will receive a donation and any condition attaching to the donation 15 outsidc th¢ Control of the charity. Dollations offered subject io conditions which have n(¥t been met at the year end date are noted as a commitjnent but not a¢¢[lJ a5 expcnditure. Charitable activities Costs of charitable aciiviti¢s are incurred on the ¢harity's educational operations. including support ¢osts and costs relating 10 th¢ govcrnance of the charity. Govern%nce colts Governancc costs comprise all costs involving the publi¢ aecountsbiliry of the charity and its Compliance with regulation and good practice. These ¢osts include costs relat¢d io the independent examination and legal f¢¢s together with an apportioDment of overhead and support rvsts. Fixed asset lllvestmen¢$ Investments are stated at market value as at the balan¢e sheet date other than inve5tsnents not listed on a reGogniscd sloLk exchange, which are included at the trusiee5' valuation. The Statcment of Financial ActivitTre5 includes th¢ Det gain5 and los&es arising on revaluation and disposals ihroughouE the year. Taxglion The charity is exempt from tax on its charitable activities. Page 11
ELLIS CAMPBELL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES- contioued Fllnd accountlng uleStrIcted funds can be used ill accordance with the charitable objeetives at the disererion of the tn]stees. Restricted funds can only be used for particular r¢stri¢t¢d PULyose$ within the obj¢¢ts of thc charity. RestTiCtions arise when specified by the donor or when fimds are raised for particular restri¢t¢d pUoses. Unrealised and reallsed gains and losses All gaitts and losses are iaken io thc Ststement of Financial Activities as th¢y arise. Realised gains alld losses on invL%tmellts are calculated as the differencc between salcs proceed% and opening market V<ilue (purchase date if later). Unreali8ed gain5 and losses ar¢ calculated the difference between the maik¢t value at the year-end and opening market value lor putLhase date if later). Realised and unT¢alis¢d gains are not separat¢d iT) the Statement of Financial Activities. Fitialltial Instruments The chartty has el¢¢ted to apply the provisions of Section I I 'Basi¢ FiNaE]cial Instmment5' of FRS 102 10 all of its financial instruments. Financial instrnments are r¢co8niscd when the charity b0M¢S pany to the contrdctllal provisTOllS of the insrruThent. Financial assets and liabilities are offset. with the net amounts pr¢sented in the finan¢i#l slalement& when there is a legltlly enfoTceable right to set off the recognised amounts and there is an intention to settle on a net basis or io re4lise the assci and settle the liability simultaneously. Basic financial assets, which Include trade d¢btors, other debiors and Lash and i)ank balances, are initially measured at transaction pri¢e including trdns&tioD costs and ale subsequenily carried at a]nortised ¢osi using the effective interest method. Financial &ssets classified as re¢eJvable within un¢ year are not amortised. Financial liabilities and 4uity instru¢t5 are classified according to the substance of the contrdCaj aangeMentS enter illto. An equity in5trumerLt is any contract that evid¢n¢es a residual inter¢st in the assets of the charity after deducting all of itslsabilities. Basic fiThan¢ia liabilities, including trsdc creditors and other credito, that are classified as debt, are ini11211y recogni%td at Iransaction price unless the arrangement ConstiS a financing transacti()n. where the debt instn]mettt 1$ measured at tbe pr¢s¢nt value of the fulure paYentS discounted at a mark¢t rate of interest. Financial liabi]ities are dere¢ogni5ed when, and only when. the charitys contractual obligations are discharged, cancell¢( or they expire. Going contern Based on Current trdding and future expeclalions. the trustees are Confident the Charily will continue lo trade profitably in future periods and gen¢rate sufficient cash tlows to meet ils obligations as thry fall due for pay]nent. Pag¢ l2
ELL15 CAMPBELL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- contlmued FOR THL YEAR ENDED 31 DECEMBER 202] CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCkS OF ESTIMATION UNCERTAINTY Signifie4nt judgemènts and estlm*tes In the application of the eharity's ac¢ountlll8 policies, thc trustees are required to make judgetnents. estimates and assumptions about the carrying amount of assets and liabilitie5 that are not r¢adily apparent from other 50llrces. The estimates alld associated assumpiions are based on historical expeTience and other factors that ar¢ consid¢r¢d to be relevani. ALtLMI results m&y differ froin these eslimutes. The estimates and und¢Tlying assumptions are reviewcd on an ongoing basi8. Revisions 10 a¢Lounting esiima are iecognised in the period In which the estimate is revised wherc the revision affectg only tlial period, 01 in the period of the revision and future periods where the revision affects Ix)th current and future periods. A key source of ¢stitnation un¢eft8inty relat¢s to the valuation of investm¢nt properties, wher a valuation is undertaken annually as at 31 D#ember by the trustee5. Property valuations ar¢ one of the principal un¢ertainiies of the chariiy. Investment properties were valued at £2,439,288 at 31 December 2021 12020.. £2,326,311) and #re showt) tn note 10 of these financial sialetnents. DONATIONS AND LECACIES 2021 2020 Donations 1.000,000 500.000 INVESTMENT INCOME 2021 2020 Renial income Dividend5- UK quoted equitLe5 Interest on cash deposils 137,267 1,195 150,608 7,924 54 148.462 158 586 CHARITABLE EXPENDITURE 2021 2020 Charitable donations Governlince costs Other charitable expenses 29,860 4,250 25.081 602,320 25,250 35.520 59.191 663 090 All donations gre to charitabl¢ instittLtions. Page 13
ELLIS CAMPBELL FOUNDATJON NOTES TO THE FINANCIAL STATEMENTS- contjDued FOR THE YEARET4DED31 DECEMBER 202] AUDITORS, REMUNERATION 2021 2020 Fe£s payable to the charity's aLtditors for the audit of the chariws financial statements Other non-audit Services 4,250 3,717 4,250 2,567 'rkusTELS' REMUNERATION AND BENEFtTS Trustees are considered to be key management persoTJnel. Tru$t¢es' tiptnses 2021 2020 Trustees, expenses loo 109 In 2021 th¢ expenses were Incu by l iNstee in relation to entertaining expenses. The expenses incurred by I trustee in 2020 are in Felation to entertaining c%pen.ses. FIXED ASSET INVESTMENTS List¢d investtnents MARKET VALUE Ai l January 2021 Additions Disposals N¢t gains 174,173 ,013.595 1193,3971 75.278 At 31 December 2021 1,069.649 NET BOOK VALUE At 31 December 2021 1,069.649 At 3 1 December 2020 174.173 There were no inve5ttn¢nt assets outs'ide the UI Cost or valuation at 31 Decen]ber 2021 and 31 Decembtt 2020 is represcnted by listed investments. Page 14
ELLIS CAMPBELL FOUNDATION P40TES TO THE FINANCIAL s'fATEMENTS- eontlnwcd FOR THE YEAR ENDED 31 DECEMBER 2021 io. INVESTMENT PROPERTY FAIR VALUE Ai l January 2021 Revaluation 2,326.31 112,977 At 31 December 2021 2 439 288 NET BOOK VALUE At 31 December 2021 2.439,288 At 31 December 2020 2.326.311 Investment prop¢rties were revalued at 31 tkcember 2021 by the trusl¢e5 at open market iralue. To comple this process th¢ trustees use extely1 profusional valuers to h¢lp thein determin¢ th¢ relevant a]nounis. The primary source of evidence for the Commercial property valuation is recettt, comparable market transactions on an arms-length basis adjusted for fa¢totS Such as lo¢aiion, covellant. terni, lot size and potential for rental The value of Teversions is bascd on 8 fomula dependent on the movement in PTiCe of residential property and the age of the person occupying the property. If investmcnt properttes had TJOt been r¢valued, their historic cost would have been £1,651,492 (2020.. £1,651,492). Fair va]ue at both l January 2021 and 31 D¢cember 2021 is represented by valuation. 11. DEBTORS: AMOUNTS FALLINC DUE wrrHIN ONE YEAR 2021 2020 Trade and other debtors PTepayments and aL¢Tued income 47.239 14,302 4,750 50,737 19,052 12. CREDI'foRS: AMOUNTS FALLING DU£ WITHIN ONE YEAR 2021 2020 Taxation and so¢sal secllrity Orher creditor$ 5,832 187712 4,096 359,706 193.544 363.802 Within other creditors is £31.125 (2020.. £32,556) relating to deferr¢d illcome in resp¢¢t of rental income and £146.62012020.. £320,650) relating to committed donations. Page 15 continlled.-.
ELLIS CAIIIPBELL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEARENDED 31 DECEMBER 2021 13. FINANCIAL INSTRUMENTS 2021 2020 Financial assets measured al amortised cost= Included wsthin debtors and cash at bank and in Imnd 1.124,335 1.025.520 FlIncIal liabilit1¢5 measur¢d at amortiscd cost.. Included wirkn"n creditors 187,712 359,706 14. MOVEMENT IN FUWDS Net movement in fund5 At 31112121 At 111121 Unrestrirted fund5 (ieneral fund 3,162,202 1,277.526 4,439,728 TOTAL FUIYDS 3.162 202 1.277 526 4,439.728 Net movement in ttd$, included in the above are as follows.. Gains and losses Movcment in funds Income Expenditure Unre$trirted funds General fund 1.148,462 (59.191) 188.255 1,277,526 TOTAL FUIYDS 1 148 462 188,255 1277,526 Comparatives for movement in funds Net movement in funds At 31112120 At Iiir20 Unrestricted funds General fund 3.078.145 84.057 3,162202 TOTAL FUNDS 3,078.145 84,057 3.162,202 Page 16 ¢ontinued...
ELLIS CAMPBELL FOUNDATIOF4 NOTES TO THE FINANCLIL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021 14. MOVEMENT IN FUNDS- contlnued Comparative net movement t* funds, includ¢d in the abov¢ ar¢ as follows.. Gains and losses Movement In funds Income Expenditure Unrestrlcted fullds General fund 658.586 1663.0901 88,561 84,057 TOTAL FUNDS 658 586 663 090) 88,561 84.057 A CUent ycar 12 months and pritsr year 12 months combined position is as follows- N¢t movement in funds At 31112121 At 111120 Unrestricted funds General fund 3,078,145 1,361,583 4,439,728 TOTAL FUNDS 3,078 145 1,361583 4.439,728 A curr¢nt year 12 ]nonths and prior year 12 months combined net movement in funds, included in the above 8re as follows.. Gains and losses Movement in fund5 Income EXpendille Unrestrlcted fynd$ General fund 1.807,048 1722,2811 276.816 1,361,583 TOTAL FUNDS 1807 048 722 276,816 1.361.583 15. RELATED PARTY DISCLOSURES The following donations have been received frotn ¢tsmpanies controlled by the trustee5. 2021 2020 W & H Elliotts Limited Urban Depot LiTnited Sol¢nt Land Investtnents Limited Ellis and Sons (Southern) Propety ffivestments Limited EconoTlliC Property Investments Ltd Bitstall Land Irlveslments Lilted 350,000 650.000 350.000 30,000 50,000 20,OOU 25,000 During the yeai to 31 Decernber 2021, the chariry received a dollation of £Nil (2020.. £25,000). including gift tid, from Mr8 L G Montgomery. a trustee of the charity. Nn conditions were alla¢hed io ofj the above donations. Page 17
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ELLIS CAMPBELL FOUNDATION Opinlon We have auditeit the financial statements of The Elljs C¥wbell Fouudation (the 'charity') for the year ¢ 31 December 2021 whi¢h comprise the stament of FiJJan¢ial Activitie4 the Balan¢e SheeL the Cash Flow Statelnent and notes 10 the financial sraiements. including a 8umn)ary of significant acc4)unting policies. The financial reporting fratnework that has been applied in their prepaNion is applicable law athd United KithgdoTll Accountin8 Swidards (United Kingdom G¢nerally Accepted Accounting Practice). In our opinion the fDnti&l statements". give a and fair view of the state of the charitys affairs as ai 31 De£ernber2021 and of its income and expendiluFe for the year then ende(L have been properly prepared ill a¢¢ordance with United Kit)gdom Generally Accepted A¢¢oullting Practice. alld h&ve bttn prepared in accordall¢e with tbe requirements of the Ch8n"ts"es Act 2011. Basi$ for op150 We conducied our audit in 2eeordance with International Standards on Auditing (UK} (JSAS IUK}l and applicable law. Our responsibilili¢s under those standards are fimher dwibed irj the Auditors. responsibilitie5 for the audit of the financial stat<ellts secu¢x) of our retK)rt. We are independent Of the charity in accordance with the ethieal ¥¢quiremettts that are televallt to our audit of the fmancial stsiem¢nts in the UK including the FRC'5 Ethical Standard, and we have fulfilled our other ¢thr'cal T¢sponsibilities itl aecordance with requirements. We believe that tbe audit evidellte we have obthined is sufficiem and approptiale to provide ab&sis for our opinioll. Conclusion$ relatitiE to going eonce In auditing the financial Staments, we have concluded that the tntstres, of the going con¢em basis of accounting in the preparation of the financial staiem¢nts is apprtspriate. Based OD the work we have performed, we have not 1dent1fi any matetial uncertainties relating to events or tondition5 thai, individually or collectively. moy cast Significant doubt on the ¢hariWs ability tt> continue #s a going con¢ern for a period of at leasi twelve months frow when the financial Stsmem5 are authorised for issue. Our resnSibIlitieS and the rcspowibilities of the trustees with respect to going Concern are described in the relevant sections of this rep)tL Other informatio The twstees are respo11b1¢ for the othtt iDforn)atioll. Th¢ other illformation comprises the infomiation included in th¢ Annual Rep)TL other than the fjnancial $tateuLents aDd our Rep)rt of the IndqKJdenL Auditors thcreon. Our opinion otk tbe financial Statements does not ¢over the other ]Dforniation except to tbe extent othetWi5e explicitly ststed in our rqK)rt. we do noi express any form of assur2we conclusion thern. In cortnection with OLtr audjl of the fujantial teMenty our responsibility 15 to read the other informatiOTt and. in doin so. consider whethcr the other infomiation is materially inconsisni with the fllJanci#l $ternents or our knowledge obtained in the audit or otherwisc appears ttb be materially misstaicd. If we ideniify suth inwn5i5tencies or apparent njaierial lsstateMents, we are required ro detemiit]e whether this gives rise to a material l$Stateent in the financial statemeDts themselve5. If, based on the work we bave perfoTmed. we conclude that there is a material missratement of this other irJforMatio we ate reqUIj io rwt that facL We have nothing to report ill this regard. Matters on whlelt we are requlred ts report by CeptiO We have nothing to report in respect of ihe following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report io you if, in our opinion.. the inFotIon given iti the Report of the Tn]stres is inconsis*ni in any mat¢rial respect with ihe fjnancial statements" or sufficient accounting ordS have not be¢n kq)t" or the finan¢ial statements are not in agreement with the accounting records and r¢turns' or we have not rEceived all the inforjnation and explanatiojjs we rquire for our audiL Page 4
REPORT OF THE INDEPENDEf4T AUDITORS TO THE TRUSTEES OF ELLIS CAMPBELL FOUNDATION Re5POll5ibilities of trnstees As explained more fvIIy ID the Statement of Tr¥]siees' Responsibitstie& the are responsible for the preparation of the financial sthiement$ which give a and fair view. and for such internal control as the trustees dderniine is necessary to enable the preparation of finan¢ial Siatetnents that are free fro¥n rnaieriai misstatement. whdher due to fraud or error. Jn preparing the flnancial ststetnents, th¢ trustees are r¢sponsible for assessing the charit1 ability to continue as a going concem, disclosing, &s applicable. matters related to going concern aud usillg the going concern basis of accowiting unles5 the tsiJ$t¢¢s either ithtettd to liquidate the cbarity oi to cease operatiolls, or bave nL) realistit altetnatiye but to do so. Our respollsibilities for tbe #tsdil of ihe fin¢1#1 st%tsmeBts W¢ have been apw)inlcd as auditors under Se¢tion 144 of the Ch2fiiies Act 2011 and rep)rt in accordance with the Act and relevant regulations made OT havirkg effeci th¢under. objectives are to obtain reasonable agsurntsce about whether the financial ststcmetits as a whole are free froTll tnaterial misstatement, Wheth due to fr2ud or error. aDd issue a Rew)rt of the Independent Auditors that include5 our opinion. Reasonable &ssurattce 1$ a lll.gb level of &ssuranc¢. but is not a guaramtee that an audit conducted in ¢cordance th ISAS (IJKI will always deteci a material tni&%ialement when ir exists. MisStaiemen¢s can arise from fraud or error and are eonsidered material if, indiwdually or in the a&gregate. they could reasonably be expected to tntluen¢e the econorni¢ decisioDS of users tsken on the basis of these fbnancial ststements. Itregularities, in¢luding fraud, are instances of llon-compli3n¢e with laws and reglllations. We dcsign procedures in line with our r¢spts]tsibilitics, outlincd aixjve. to detect m1s5th1ellts in r¢sp(Yt of illEgul8rities, including fi3ud. Our approwh io identifytng and assessing the risk5 of materia] mi5Statetneni in respect of inr8ulariue& including fraud and non40mp]iance wilh laws and regulations. was as follows". * the engagement partner ensured thai the eDgagemeDt wm Collectively had the awropriate cornpen¢< capabilities and skills to identify or recolse non-cornpliance with applicable laws and regulation5.' we identified the laws and regulations applicable lo the ¢harity through discussions with management and from our experienc£ of the charity seetor. we focused on specific laws and regUOn$ which we considered rnay have a diTe¢t material eftect 00 the financial stst¢ment5 or tbe operatiolls of the ¢TrMrity. including the Charities Act 2011, dara prottiOn. anti-bribery. environm¢ntal and health and safety legislation: we &8sessed the extent of complianc¢ with the laws and regulations identified above through making enquiries of nL2nagement and inspectit)g legal coesPOndenCe,. and * identified ]aws and regulations were ¢¢)mmuthieated within the audit team re8ularly and the team rcmajned alert to We &8sessed the SUc?t1bIlity of the ¢haritys financial state]nents to mat¢rial thi&]en( including obtsining an llnderqr8nding of how fraud might occur, by: ' making enwirÉes of managemellt &$ to where they eonsidered there w&8 susceptibjlity to fraud, their knowledge of actual. suspected or alleg fraud: and considering the irttejnal controls in plac¢ ¢0 mitigate risks of fraud aj non-compliance with laws and regulations. To address the risk of fraud tbrough maDagement bias #Thl ovetride of tontrols. we: perfornjed anylICal procedures to identify aDy unusual or unexr*cted relaiionshi * tested journal entrie5 to iderttify unusual transactions.. eSsed wheiher judgements and aswmptions made in det¢m]inillg the accounting estinleS set out in note 3 were indicaiive uf pvtrntial bias- at)d investigated the rationale behind signifi¢ant or unusual Pa8¢ 5
REPORT OF THE INDEPENDEf4T ADI)ITORS TO THE TRUSTEES OF ELLIS CAMPBELL FOUNDATION In response to the risk of irregularities and 01cOMpli2ce wilh laws and regulats"on& we des'iglled PrI)¢ethS which includ¢1 bul were not limited to- agreeing fitwicial ststem¢nt disclosures to UDdcrlying supporting d(Kumelltation; reading the minutes of Meetings of cbarged with govetnance: aNI enquiring of mana8emetst ¥ lo actual and potential Eitigation alld claim& There are inheteni limitatÈons in our auth"I PrejU[c5 described obove. The more retTW)ved that laws and r¢gulation$ ate from financial tractionS the le&s Itkely li is that we would beujme aware of nthj-compliance. Auditing standards also limit th¢ audit prn¢edures required to identify non-compliance with laws alld regulations to enquiry of the trustc¢s aDd other rnaDagemeut aud inspection of regu]atory attd legal corr¢4YODdence. if any. Material missrate]nents that arise due to fraud can be harder to detect than those that arise from error &s they may snvolve deliberate concealment 01 collusion. A fier des¢ription of our responsibilities for the &udit of the fitwicial statements is Iated tsn the Financial R¢poning Council's web"te at www.fr¢.org.uklauditorsreswnsibilities. This description fomis port of our Report of the lttdepeknt Audits)rs. Use of our report This report is made solely to the clwity's trnstees. as a tr, in &cordance with Part 4 of the Charities {Aceount$ and Reports) Regulations 2(M)8. ( audit work has been undettsken so that we might stale (o the charitys trnste¢s those matters w¢ are requiTed to statr to theTn in an audiiof5' rqrt and for othei purpose. To the fullest exient perniitted by law, we d(> not accept or asswne re5POnStbili¢y to anyone other than the chariiy and the charitys trustees a5 a body. for our audil worl for this re]W OF for the opinions have formed. Chrisiopher Miri8hiott (Senior Stathtory Auditor) For and on behalf of Harold sha Limid Registered Auditors and Chartered Accountants EITgible to a¢t as an auditor iti ternjs of Section 1212 of the Companies Art 2( 5 Brooklan¢Js Place Brooklands Road Sale Chdshire M33 3SD Date.. Page 6