2022-12-31-accounts - Ellis Campbell Foundation

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THE ELLIS CAMPBELL FOUNDATION

ANNUAL REPORT FOR THE YEAR ENDING 31[st] DECEMBER 2022

		Other (ad hoc)	Youth Led System Change	Totals
Hampshire	No of grants	2 (1)	7 (2)	9 (3)
	£k	£1,225.00	£81,900	£83,125.00
Rest of U.K.	No of grants	14 (6)	4 (2)	18 (8)
	£k	£99,950.00	£154,000.00	£253,950.00
Perthshire and Scotland	No of grants	2 (3)	NIL (NIL)	2 (3)
	£k	£300.00	£0.00	£300.00
London	No. of grants	NIL (NIL)	1 (2)	1 (7)
	£k	£0.00	£10,000.00	£10,000.00
Totals	No of grants	18 (10)	12 (6)	30 (15)
	£k	£101,475.00	£245,900.00	£347,375.00 £29,860.00

Notes: 2021 figures in brackets for comparison

There were 15 (42) recipients of a grant this year with a total sum of £347,375.00 (£29,860.00) donated.

REGISTERED CHARITY T4UMBER: 802717 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FOR ELLIS CAMPBELL FOUNDATION

ELLIS CAMPBELL FOUNDATION CONTENTS OF THE FIP4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Page Report of the Trustee5 Report of the IhdepeDdent Auditor5 Statement of FiDaNcial Activities BalaDCt Sheet Cash Flow Ststement 10 F4otes to the Cash Flow Ststement Note5 to the Fin2ntial Statements 12 to 18

ELLIS CAMPBELL FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The tn]stees present their report with the financial statell]ents of the charity for the year ended JI December 2022. The trustees have adopted the provisioS of Accounting and ReTK>rting by Charities.. Statement of RecoJnmended Practice applicable to charities preparing their accounts in accordance with the Finan¢ial Reporting Standard appli(able in the UK and Republic of Ireland IFRS 1021 (effective l Janllary 20191. OBJECTtVES AND AcfIvITIES Objectives aMd Aims Under the terms of the settlement, the trustees can apply the funds to any charitable purpose and in Such Tnanner as the tn]stees may from time to time in their absolute disffttion think fil without detracting from the general nature of the charitable trust broadly focussing on the educatioll and a$515taD¢e of person5 under the age of25, including f]nancial Rid and support into work. The 5ettlem¢nt also refers to supporting youi)g people's spiritual, mental and physical capacitie5 to enabl¢ them to grow to full maturity as individllals and membeTS of soGiety and so that their life conditions may be improved or'othetvise to further thc education of su¢h persons". In 202Q the trllste COTlltnstted to a 7-month long progratnme to improve the itnpact of the Foundation, led by Ten Years Time. We focus5ed on how i¥e Could support young people in the UK to build youth poweT and leadership so that the young people we sUPPOrt are abSe to effe¢tively Influence the world around them. We met with around 80 leaders in this field from the young people themselves to a wide range of experts working in education, youth 5erviGes, CrIlDa1 jUStice. the care system, community service5, housing and mentsl health plu5 rEsear¢hers and policy Makers. On the back of that prograrnme, we were able to pivot OUT fundijg w enable youth power and leadership io grow. with the hope that over time we can influeD¢e and educate others to support young people in the saTne way. OUF funding criteria is to build youth power and leadeT5hip systemically through youth led Iwning and development opportunities, with a focus on supEK)rting young leader5 from tninoritized and marginalised comrnunities outside Greater London. We 3re also supporting collaboration between our new partneTS. $0 that they can learn frotn and sllppoft each other in the grouTbd breaking youth led work thai they do. The tNstee5 rn¢et twice a year to di5CUSs and agree grant makin8 policy and grant dectsions and are by the CEO Laura Montgomery. who is a]so a trustte and took on the CEO role in January 2023. ACHIEVEMENT AND PERFORMANCE How our Activitie5 achieve pknblkc benefit As stated above, the trustees recently undertook a deep dive into how best to build youth power and leadership and continue to leam from the young people thetnselves and the wider Sector to ensure they are having the greatest impact. The tru5tee5 are ¢onfident that their grants and other a¢tivities are not only having a diTeci benefjt to the individuals and organisations they support but also to the wider Communitses in whieh they are based. The tn2Stees regularly monitor progress and impact to ensure they are making decisions and sUPPOrting young people in the bes¢ possible way. The trustee5 feel the objectives of the charity have been met and the public have benefiied from its activities during the year. FINANCIAL REVIEW Fin#nctal position rotal income from donations and investments for the y&ir amounted to £563.824 (2021.. £1,148,461). The chaTsty made 28 donations during the year totslling £347,07512021.. 21 donaiiotys totalling £203,890). The average dollation wa5 £12.396 (2021.. £9,709}. Of the donations paid in the year, £106.120 were Committed in prior period5. Page I

ELLIS CAMPBELL FOUNDATJON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 FIIYANCIAL REVIEW Investment policy and objettives The Gharity has no restrictions on its power5 to invest. The poli¢y of the trustees 15 to seek to m&ximise total return. whi15t mainiaining the re&1 value of the ]x)rtfolio and not subjecting li io undue risk. Trustees review investment performance at ¢aeh meeting, and their PDlicy at leasi annually. At 31 December 2022 the ¢harity held fixed asset inv¢sttnents with a value of £4,704.910 (2021.. £3,508,936). At this date the investment portfolio comprised UK social impact equities, properry reversions and Commercial property. The charity mw)ages its investment5 on a total r¢tum b2sis so that inyestsnent income is simply one ¢omponent of the total investment reft]m. Reserves polity The charity holds only unrestricted fund5. The reserves policy of the Charity is lo retain at least one yetrs expenditure on charitable aGtivities as cash and liquid investrn¢nts.The CharitS' Otherwise illvests its ttds in inve5ttnent property to generate long te]Th income. At the year end reserves iot211ed £4.9m of which £1.3 is Considered liquid. The trustees include this liquidity posititsn as part of their con5iderRtiotL of potential donations. FUTURE PLANS The charTty intends to continue to fulfil its obje¢ts through its donation rnaking policy. STRucfuRE, GOVERNANCE AND MANAGEMENr Governing document The charity is controlled by it5 governing docllment, a deed of trusi and ¢onstitllte5 an unincorporated ¢harity- Ellis Campbell Foundation is governed by the Deed of Settlement dated 12 DeceTnber 1989. Trusiees meet twice a year to Consider grant applications. Teview investment performance and discuss matter5 of a strategi¢ and administrative nature. The power to appoint new tnLStees is vested in the existing trnstee5. Induction gnd trAining of llew Irusttts Ea¢h of the trllstees brings with theTll specific relevant areas of expertise. including finatjcial. organisational, policy developThent and legal. Updating on new Televant issues relating to the Ellis Campbell Foundation occurs as part of the agenda of trustees, meetings. Following the strategic review in 2020 and the commitment to bllslding youth power and leadership, the tn]stees agreed to appoint 3 new youn8 trustees to the Board. They had been sitting in trnstee meetsngs for a nurnber of years before being apwTnted and had taken part in the strategi¢ review and through this had leanlt about the Foundation and gained a good understanding of how charities work. On being appointed as trustees. the CEO made clear to them the duties and obligations they were taking on and continues to ensure that all tNstees are fulfilling their duties and are sufficiently well infornied to do so. Risk rnanggement The trustees are responsible for establishing and monitoring tlie inteTnal coDtrol systems of the charity. The major risks which may impa¢t on its activities have been reviewed during the year. The key Tisk is financial ri5k' operational risk is considered low. The tru5¢ees are satisfied that the system of internal Colltrols currently in place is adequate. whilst recognisin8 that they are designed to manage fdther than eliTninate risk. Internal controls are reviewed on an ongoing b1$ as part of the day-to-day Tisk management proces5. REFERENCE AND ADMINISTRATIVE DETAIiS Registered Cbarity number 802717 Page 2

ELLIS CAMPBELL IUNDATIoN REPORT OF THE TRUSTEES FOR TUE YEAR ENDED 31 DECEMBER 2022 Princkpal address Shalden Park Steading Shald¢n Alton Hatnpshire GU34 4DS Trustees M D C C CapbelI MBE DL L F Campbell J L C CaMpbell A J Andrew L G Montgomery l G R Andrew (appointed l.10.22) W J C Andrew (appointed l.10.221 H R A Andrew (appoint¢d l.10.221 Auditors Champion A¢coEmtants LLP I Worsley Court High Street Worsley Manchester M28 3NJ Solicitors Geoffrey Leaver Solicitors LLP 251 Upper Third Street BouveTie Square Central Milton Keynes Buckinghamshire MK9 IDR Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ srATEMENT OF TRUSTEES, RESPONSIBILITIES The trnstecs are responsible for preparing the Report of the Tn]stees and the fInan¢ial statements in accordance wsth applicable law and United Kingdom Accounting Standards Wnited Kingdom Generally A¢¢¢pted Aceollnting Practice). Page 3

ELLIS CAMPBELL FOUNDATJON REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 DECEMBER 2022 STATEMEPU OF TRUSTEES, RESPONSIBILITIES- contiDued The law applicable to charities in England and Wales, the Charities Act 2011, Charity {Accounts and Reports) Reglllations 2008 and the provisions of the trust deed requires the trllstees to prepare financial siatement5 for each financial year which qve a true and fair view of the State of affairs of the ciwity and of the in¢oFning resources and application of resources. including the income and expenditure. of the charity for th&t period. In PTeparing those financial statements, the trustees are rwuired to select suitable accounting wlicies and then apply them Gonsist¢ntly' observe the rnethod5 and prinfjiples in the Charity SORP., make judgements and estimates that are r¢¥onable and prudenL state whether applicable accounting standards have been followed, subjcGt to any m&lerial departure5 dis¢losed and explained in the financial statements.. prepare the financial ststements on the going concern basis unless it 15 inappropriate to presume that the clwity will Continue in busines5. The trustee5 are responsible f(Jr keeping proper ac¢ouDtittg records which disclose with reasonable accuracy at any time the financial p051tion of the thariry and to enable thetn io ensure that the finatjcial statements comply with the ChaTities Aci 2011. the Charity (A¢¢tsuDiS and Reports) Regulation5 ?008 and the Provisions of the trusl deed. They are also resptsnsible for safeguarding the assets of the charity at]d hence ftsr taking reasonable steps for the preveniiott and detefjtion of fraud alld other irregularities. Ott30, 2023 Approved by OTder of the board of trustees on ...... . and Sign on its behalf by.. L G Montgomery- Trustee Page 4

REPORT OF THE INDEPENDEpif AUDITORS TO THE TRUSTEES OF ELLIS CAMPBELL FOUNDATION Opinion We have audited the fancial statem¢Jts of Ellis Campbell Foundation (the 'charity'l for the year endeA 31 December 2022 which comprise the Statem¢nt of Financial Activitie5, the Balance Sheet, the Cash Flow Statement and notes to the financial statejnents, including a summary of significant accounting policies. The finallcial report2ng frdmework that has been applied in their Preparation is applicable law and United Kingdom Accounting Standards IUnit¢d Kingdom Genera]ly Accepted Accounting Practice). tn our opinson the financial statementS'. give a tNe aT>d faiF view of the state of the charity's affairs Ès at 31 Decetnber 2022 a¢)d of its incoming resources and applicatiotj of resour5, for the year then etjded; have been properly prepared in aGctsrOance with United Kingdotn Generally Accepted Accounting Practi¢e- and have been prepared in accordance with the requirements of the Charitie5 Act 2011. Basis for opinion We conducted our audit in a¢¢ordance with Internationa] Stslldards on Auditing (UK} (ISAS {UKII and applicable law. OUT respx)nsibilities under those Standards are rther described in the Auditors, responsibilstie5 for the audit of the financial siatrmenis sectTron of our report. We are independent of the charity in accordance with the ethical rquirement5 that are relevant to our audit of the financia] statements in the UK. inrluding the FRC'S Ethical Standard, and we have fulfilled our other ethical SpOnSibl1ltles in a¢¢ordance with these requiTernents. We believe that the audit evidence we have obtasned is suffi¢ient and appropriate to provide 8 basis for ollr opinion. Conclusions rdatlDg to goiDg coneern In auditÈng ihe financial statements, we have ¢on¢luded that the tn]stees' use of the going concern basis of a¢¢ounting in the preparation of the fjnancial statements 15 approprsate. Based on the work we have rfornIed, we have not identifjed any material uncertainties relating to events or conditions that. individually or collectively. Jnay Gasi significant doubt on the charity's ability to continue as a going ¢on¢ern for a period of at least twelve months from when the financial statements are authorised for isslle. Our responsibilities and the SponsIbl11tles of the trustees with respect to going concern are destribed in the relevallt sections of this report. Other iNformation The tSte¢S are responsible for the other information. The other inforniation cotnprises the inforniation included in the Annual Report, other than the financia] statement5 and our Report of the Independent Auditors thereon. Our opinion on the financial statem¢nts does not cover the other infotmaiion and, except to the extent otherwise expli¢ifly stated in our repor4 we do not express any forni of as5t]rance conclusion thereon. In connection with OUT #udit of the flnancial statements. OYT responsibility is to read the other infomation and, in doing so, consider whether the other information 2s materially inconsistent with the financial 5taternents or our knowledge obtained in the audit or otherwise appears to be materially misstated. Jf we identify such material i]]¢onssstencies or apparent maierial misstatements. we aFe required lo detemine whether this gives nse to a material inis5tatement in the fanCIal statements themselves. If, b¢d on the work we have performed. we conclude that there is a material misstatement of this oiher inforniation, we are required tts rewrt that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in reswt of the follow2ng matters where the Charittes (Accounts and ReFK)tts) Regulations 2008 requires us to report to you if, in our opinion: the information given ill the Report of the Trllsiees is inconsistent in any material respect with the finall¢ia] statements. or sufficient accounting records have not been kept. or the fJnancia] statements are T)Ot in agreement with the accounting records 2nd returns; or we have not received all the infoThiation and explanations we require for our audit. Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ELLIS CAMPBELL FOUNDATION Responsibilitie5 of trustee5 A5 explained more fully in the Statetn¢nt of Trustees. Resw)nsibiliti¢s. the trnstees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control &8 the trustees detertnine is eeessary to enable the preparation of financial statem¢nts that are free from material misstatement, whether due to ftaud or eOr. In preparing the fjnancial statements, the tjvstees are responsible for assessing the charity's thility to wntinue as going conceTn, disclosing, a5 applicable, Tnatters related to going concern aT)d llsing the going concern ba5]5 of accounting unless the trustees either illtend to liquidate the ¢bariry or to ce&se operations. or have no realistic alten]ative but to do $0. Our re5POll5ibilities for the audit of the fin8nei#l $tstements We have been apptsinted as auditors under Sertion 144 of the Charitie5 Act 2011 and rekx)rt in &ccordance with the A¢t and relevant regulations made or having effect thereunder. OUT obje¢tives are io obtain reasonable assurance about whether the financial statements a whole are free from material Ellisstatemejt. whether due to fraud 01 error, and to issue a Report of the Independellt Auditors that in¢ludes our opinion. Renable assurance is a high level of assurance, but is not a guaT2niee that an audit conducted i accordance with ISA5 IUKI will always deEect a material misstatement when it exists. Misstatements can arise from fraud OT error and are cot2sidered maierial if, individually or in the Jgate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these finan¢ial staiements. The extent to which our procedures are capable of detecting irregularities. illGluOing fraud is detailed below.. As part of our planning process.. We enquired of management the systems and controls the charity has in pla¢e, the areas of the finan¢ia] staternents that are mostly susceptible to the Tisk of iFregularities and fraud. and whether there was any known. Suspected or a]leged fraud. The charity did not infon us of any known, suspected or alleged fraud. We obtained an understanding of the legal and regulatory fraTneworks applicable to the charity. We detemiined that the following were most relevant to the financial statements.. Charities Aci 2Ql I, FRS 102 & guidan¢e given by the Charity Commission for England & Wales. We considered the incentives 3nd opportunities that exist in ihe eharity, including the extent of management bias, which present a rK)tential for irregularities and fraud to bc peTpetuat¢d, and tailored our risk assessment accordingly. Using our knowledge of the charity, together with the discussions held with the chaTaty at the planning stage, we fonned a conclusion on ihe risk of misstatement due to iegUlatieS including fraud and tailored our procedures according lo thi5 risk assessment. ID response io the risk of irregularitie5 and non-compliance with law5 and regulations, including frdud, we desIed procedures which ii]¢luded: Enquiry of managen]ent and those charged with 8overnall¢e around actual and potential litigation and claims as well as actual, suspected and alleged fraud. Reviewing minutes of meetings of those charged with governallce. Assessing the extent of ¢ompliance with the laws and regu12tions considered to have a direct mat¢rial effect on the financial statement5 tsr the operations of the entity through ¢nquiry and inspection. Reviewing financial statement disc105ures and iesting to supporting dOcutlation to assess compliance with applicable laws and regulations; Perfong audit work over the risk of management bias and overrid¢ of controls, including testing of jowna] entries and other adjustments for appropriateness, evduating the busitJ¢ss rationale of significant transa¢tiotts outside the nomial course of busin¢s5 and reviewittg accoulltiDg estin]ate5 for indicators of potential bi. Page 6

REPORT OF THE INDEPEF4DENf AUDrroRS TO THE TRUSTEES OF ELLIS CAMPBELL FOUNDATION There are inherent 1s]nitstions in the 2udit procedures deribed above. The more removed that laws and regulations ore frotn financi transactions, the le55 likely it is that we would become aware of non-compliance. Auditing standards also lin]it the audit procedures required to identify non-compliance with laws and gUlatIonS to enquiry of the directors and other Tnanagemeni and the inspection of regulatory and legal correspondence. if any. The risk of not detecting a material m2SStatement resulting fro fralld is higher than one resulting from em)r. as fraud may involve wllusion, forgery, int¢ntional omissions. Tnisrepresentations, or the override of internal ¢ontrOI. A further description of our responsibilitie5 for the audit of the financial 5tatetnents is located on the Financia] Reporting CounGs1's websiie ot ww.frc.or8.uklauditorsresponsibilities. This description for5 part of our Report of the Independent Auditor5. Other atterS Your attention is drawn io the fact that the charity has prepared financial statetnent5 in ac¢ordatt¢e with "Accounting and Reporting by Chatities.. Statement of Recommended PTaGti¢e applicable to charities preparing their accollnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" las amended) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice i55ued on I April 2005 whi¢h is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial statements to provide a tme and fair view ID acGordan¢e with ¢urrent Gen¢rnlly Accepted Accounting PFa¢ti¢e. Use ofour rert Thi5 report is made solely to the charity'5 trustees. as a body, in accordance with Part 4 of the Charities (Accounts aThd Reports) Regulatitsns 2008. Our audit work has bcen undertaken so that we might State to the ¢haFity's trustees those matters we are required to State to them in an auditors, report and for no other purpose. To the fullest extent permilleA by law, we do not accept or assutne responsibility to anyone other than the charity and the charity'5 trustees a5 a iK)dy, for our audit work, for this report, or for the opinions we have fonned. Champion Awuntants LLP I Worsley Court High Street Worsley Manchester M28 3NJ 23 Mark TumeT FCA {Senior Statutory Auditor} Page 7

ELLIS CAMPBELL F01Tr4DATION STATEMENT OF FINANCIAL AcrtVlTIES FOR THE YEAR ENDED 31 DECEMBER 2022 2022 UDrestricted fund 2021 Tota] fi]nds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 350.000 i.ooo.000 lttvestment income 21 i,824 148.461 Tothl 563 824 1148.461 EXPENDrruRE ON Ckn3rit%ble acÈivithes Charitable don&tioRs Govemanee cost5 432,955 48,188 29.860 29.331 Tot*1 481 143 59.191 Net gains on investments 377.123 188,256 NET IP4COME 459,804 1.277,526 RECONCILIATION OF FUNDS Total ttds brought forward 4,439.728 3,162,202 TOTAL FUNDS CARRIED FORWARD 4.899.532 4 439.728 The nirtes form part of thesc finan¢ial ststements Page 8

ELLIS CAMPBELL FOUNDATION BALANCE SHEET 31 DECEMBER 2022 2022 Total funds 2021 Total funds Notes FEXED ASSETS Investments Investments Investment pr(>perty ,654,527 3.090,)83 1.069,649 2,4J9,288 12 4,704,910 3.508.9i7 CURRENT ASSETS Debtors C2sh in hand 13 68.706 412,418 50,736 1 073 598 481,124 1,124,334 CREDITORS Amounts falling due within one year 14 1286,5021 (193.5431 NET CURREKf ASSETS 194.622 930 791 TOTAI. ASSETS LESS CURRENr LIABILITIES 4,899.532 4,439,728 NET ASSETS 4 899.532 4 439,728 FUNDS Unrestricted funds 15 4 899,532 4.439.728 TO'fAL FUNDS 4.899,532 4,439 728 The financial statements were approved by the Board tsf Tnjstees and allthorised for issue on and were signed on its behalf by= L G Montgomery- Trustee The notes foTm part of these financial siatements Page 9

ELLIS CAMPBELL FOEry+JDATEOF4 CASH FLOW sfATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Noies Cash flows fro opernting attivities Cash generated from operations 101743 876.133 Net cash provided by operating activities 101,743 876,133 Cash flow5 from invting activitie5 Purchase of fixed assei invesknents Sale of red asset investtn¢nts Divid¢nds received 11,066,174) 247.324 11,013.595) 193,398 Net Cash used in illvestittg activities 762,9231 1809,0031 Change and cash equivalents in the reporting period Casb and txsh equivalents at the begillning of the reportillg period (661.1801 67,130 1,073.598 1.006,468 C*sh cash equivglents at the eDd of the reporting period 412.418 1,073.598 The notes form part of these financial Statements Pag¢ 10

ELLIS CAMPBELL Fouf4DATION NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 RECOF4CILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2022 2021 Net income for the reporting period {9$ per the Statetnent of Financial Activities) AdjUStTnet5 for.. Gain on investtnents Dividends received In¢rease in debtors In¢reaselld¢creasel in credito 459,804 1,277,526 li77,123) 155.927) {17.9701 92,959 {188,2561 111,1941 131.6841 170,2591 tash provided by oper#tions 101.743 876,133 ANALYSIS OF CHANGES tN NET FUNDS At 111122 C&sh flow At 3 1112122 Net ¢asb Cash at batyk 8*)d in hand 1.073,598 661,1801 412.418 1,073 598 1661,180) 412418 Total 1.073 598 661,180) 412,418 The notes fotm part of these fjnancial statetnrnts Pagell

ELLIS CAMPBELL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEflBER 2022 CHARITY INFORMATION The Ellis Campbell Foundatioll is a charity registered in ET)gland and Wale5. the chwty's registered nUbe[ is 802717 and registered office address is Shalden Park Steading. Shalden. Alton, Hampshi, GU34 4DS. ACCOUNTING POLJCIES Basi5 of preparing the finallcial statements The fjnancial statements of the charity, which is 8 public knefit erttiry under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended PraGti¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepubSi¢ of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting StaTJdard 102 'The Financial Reporting Standard applicable in the UK and Republic of Irelat]d' and the Charities Act 2011. The financi statements have been prepared uder the historical cost convention, with the exception of investments which are included ai market value. as modified by the revaluation of certain assets. The trust ¢onstitlltes a Public Benefit Entity llnder FRS 102. The charity presents its reslllts as a Single ¢ntity only. The pre5entstional cllrrency is £ Sterling. Jneome All in¢ome is recognised in the Siatement of Finatjcial A¢tlVi15es once the charity h¥ entitlement to the funds, it Is probable that the income will be received and the amoui]t can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constrllctive obligation rosnmittiog the Gharsty to that expenditUTe, it 15 probable that a transfer of e¢onomic benefit5 will be required in settlement artd the amount of the obligation can be tneasured reliably. Expenditure is accounted for on an accruals b&sis and has beell cla5ssfJed under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resollrces. Donatsons payable are payments Tnade to third parties in the fi]ffherance of the Charitable objectives of the charity. Single or mulli-year donation5 are ac¢ollnted for when either ihe recipient has a reasonable expectation that they will receive the dtsnation and the trustees have agreed to pay th¢ donation without ¢ondition, or the recipient ha5 a reasonable expectation that they will receive a donation alld any condition attafjhing to the donation is outside the control of the charity. Donations offered subject to conditiODS which have not been met at the yeaT end date are noted a5 a MMIttent but not accrued as expenditure. Charitable activities Costs of charitable activities are incurred on the ¢h¥ity's educational OPErations, including suppoff costs and Costs relating to the governance of the charity. Govertlance costs GoveFnaDGe Costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good PTa¢tice. These costs include costs related to the independent examination and legal fees together with at] apportionJnent of overhead and SUPFK)n costs. Fixed s$et iVeStmentS Inve5ttnent5 are ststed at market value as at the balance sheet date other than investsnertts not listed tsn a recogTLlSed stock exchange, which are included at the trnstees, valuation. The Statement of Financial Activities includes the net gains an(f losses arising on revaluation and disposals throughout the year. Taxatio The charity is exempi from tax on its Gharitable activitie5. Pagc 12 continued...

ELLIS CAMPBELL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOLry4TANG POLICIES- Continued Fund accounting unstrICted fillJds can be used in a¢¢ordan¢e with the charitable objectives at the discretion of the trustees. Restricted fiinds can oJ)ly be used for particular $tricted purpos Wlthin the tsbje¢s of the charsty. Restrictions arise when spe¢ified by the donor or when funds ate raised for particular restricted pury)oses. UDrt41tsed and reaiised gaiD5 and 105ses All gain5 3nd losses are laken to the Statemei]t of Financial Activities as they arise. Realised gains and 10sse5 on investments are calclllated as the difference between sales proceeds and opening market value (purchase date if later). Ullrealised gain5 and 10sge$ are calculaled as the differen¢e behveen the market value at the year-end and opening market value lor puh?$¢ date if laierl. Realised and unrealised gains are not separated in the StateTnent of Financial Activities. Financial instruments The charity has elecled to apply the provisions of Section I I 'Basi¢ Financial Instruments, of FRS 102 to all of its financial instrument5. Financial instnllnents are recognised when the charity becomes party to the contractual provisitsns of the instN]nent. Financi81 asset5 and liabilities ate offset, with the net amounts presented in the financial 5tateTnenlS, when there is a legally enforceable right to Set off the recognised amounts and there is an intention to settle on a nct basis or to realise the asset and settle the liability 5iTnultaneously. Basic financial assets. which include trade debtors, otheT debtors and sh and bank balances, are initially measured at transaction price including transaction costs and aTe subsequently carried at atnortj5ed ¢o%t using the effective interest method. Financial ass¢ts classified as receivable within on¢ year are not amortised. Financial liabiliiies and quity illstruments are Glassified according to the substance of the contTactual aa1]gements entered into. An equity instrument is ally tra¢t that evidences a residual intei¢st in the assets of the charity after deducting all of its liabilities. Basic financial liabilities. including trade ¢reditots and other creditors. that #re Classified debt. are init5ally recogni5ed ai tian8action price unlcs5 the arrangement constitutes a financing transaction. where the debt nstrutnent l5 measured ai the present Value of the future paytnen¢s discount¢d at a market rate of interest. Financial liabilities are dere¢ognis¢d when, and only when. the charity's ¢ontracwal obligations are discharged, ¢an¢elled, or ihey expire. Going eoncern Based on current trading and fumre expectations, the trustee5 are Confident the charity will ¢ootinue to trade profitably in future periods and generate suffjcient c&th flows to meet its obligations a5 they Ml Oue for payment. Page 13 Continued...

ELLIS CAMPBELL FOUNDATION P40TES TO THE FINANCIAL STATEMEIYTS- eonÉiDued FOR THE YEAR ENDED 31 DECEMBER 2022 CRITICAL ACCOUNTIFIG JUDGEf*lENTS AND KEY SOURCES OF ESTIMATION UNCERTAINrY Significant judgements and estimate5 Jn the application of the chariry's accounting policies. the trustees are required to make judgements, estimates and assumptions about the ¢arrying amount of assets and liabilities ihat are not readily appar¢nt from other sources. The estimates and associated assuTnptions are based on historical experience and other factor5 that are considered io be relevant. Actual re5uIt5 tnay differ from these estiroates. The estimate5 and underlying assumptions are reviewed on #n ongoittg b&%is. Revi5ion5 to aG¢oullting esiinJates aFe recognised sn the period in which the estimate is revised where the revision affects only that period. or in the peTiod of the revision at]d future period5 wheFe the revision affects both ¢UTTeni and tllre periods. A key source of estiTnation uncertainty relates to the valuation of investh]ent properties. wheff a valuation is llndertaken annually a5 at JI December by the trustees. Investrnent propertie5 were valued at £3,090,383 at 31 December 2022 12021.. £2,439,288) and are shown in note 12 of ihese finanti2J statements. DONATIONS AND LEGACIES 2022 2021 Donations 350.000 1,000.000 INVESTMENT INCOME 2022 2021 Rental income Dividends - quoted equities 157,897 55,927 137,267 11.194 213 824 148,461 CHARITABLE EXPENDITURE Grdnt fi]nding of activities (see note Support costs (see ole 8) Totals Charitable donations Governance costs 432,455 500 432,955 432 455 48,688 481.143 Page 14 continued...

ELLIS CAMPBELL FOiINDATION NOTES TO THE FJNANCIAL STATEMENTS- tontinued FOR THE YEAR ENDED 31 DECEMBER 2022 GRANTS PAYABLE 2022 2021 aritable donations 4J2.455 SUPPORT COSTS Governance costs Charitable donatioos Govemance costs 500 48.188 48,688 AUDITORS, REMUNERATION 2022 2021 Fees payable to the charity's auditots for the audit of the charity's finan¢ial ststeFnents Other non-audit servite5 5.000 4,250 3.717 io. TRugtEES' REMUNERATION AND BENEFITS Trustee5 are ¢onsidered to be key managemertt personnel. Trustee5 expett5es Ther¢ were no tru5tee5' expens¢s paid for the year ended 31 December 2022 nor for the year ended 31 December 2021. FtXED ASSET INVESTMENTS Listed investment5 MARKET VALi At l January 2022 Additions Disposals Revaluations 1,069.649 1,066,174 1275,472) 245 824) At 31 December 2022 1614.527 NET BOOK VALUE At 31 Deternber 2022 1,614.527 At 31 December 2021 1,069.649 There were no investmeTLt assets outside the UK. Page 15 continued...

ELLIS CAMPBELL FOUNDATtoiY NOTES TO THE FINAIYCIAL STATEMENTS- CODÉiDued FOR THE YEAR ENDED 31 DECEMBER 2022 FtXED ASSET INVESTMENTS- continyed Cost orvaluation at 31 Ikcember 2022 is represented by.. Listed inve5tment5 Valuation ill 2022 1.614.527 12. INVESTMENf PROPERTY FAIR VALUE At l January 2022 Revaluaiion 2,439,288 651095 At 31 December 2022 3 090.383 NET BOOK VALUE At JI Dec¢TtJber 2022 3 090.383 At 31 December 2021 2,439.288 Investment properties were revallled 2t 31 December 2022 by the trustee5 at open market value. To Gomplete this pFo¢ess the trnstees use &xtern31 professional valuers to help them detennine the relevant amounts. The primary source of evidence for the wmmercial property valuations 15 recent. Gtsmparable market transactions on an arms-length basis. The value of reversions i5 based on a formula dependent on the movement in price of residential property and the age of the person occupying the proprrty. If investment properties had not been revalued, their htstoric cost woujd have been £1.651.492 12021.. £1.65 1,4921. Fair va]ue at 31 December 2022 15 repres¢nted by.. Valuataon in 2022 3,090 383 13. DEBTORS: AMOUNTS FALLIP4G DUE WITHIN OPIE YEAR 2022 2021 Trade debtors Other debtors PpaYments and accrued in¢ome 40.500 1,629 26.577 47,238 3,498 68,706 Page 16 ontit)lled...

ELLIS CAMPBELL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- contioued FOR THE YEAR EIIDED 31 DECEMBER 202Z 14. CREDITORS: AMOUNTS FALLING DUE wrrHIN OIYE VEAR 2022 2021 Trade creditors Taxation and socia] 5e¢urity Other creditors 467 5,462 280 573 5.8i2 187.711 286,502 193,543 Within other creditor5 15 £31,125 12021- £3 1,1251 relating to deferred income in Fespeci of rental income and £232:000 (202I= £146.6201 relating to committed donations. 15. MOVEMENT IN FUNDS Net tnovement in funds At 3 1112122 At 111122 Unrestricted funds General fi]nd 4.439.728 459,804 4,899.532 TOTAL FUNDS 4.439.728 459,804 4.899,532 Net movement in futkds. included in the above are R5 follows: Incoming resources Resources expended Gain5 and 1055e5 Movement in funds Unrtstricted funds General fund 563.824 (481,1431 377,123 459.804 TOTAL FUNDS 563.824 481,143 377 123 459.804 Comparatives for movement in fuDds Net movement in funds At 3 1112121 At Iiir21 Unrestricted funds GeneFal fund 3.162.202 1,277,526 4.439,728 TOTAL FUNDS 3.162.202 77.526 4.4J9 728 Page 17 continued...

ELLIS CAMPBELL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- ¢ontinued FOR THE ITAR ENDED 31 DECEMBER 2022 15. MOVEMEKf IN FUNDS- tontinued Comparative Det movement in funds. included in the above are as follows.. IDcoming resources Resources expended GaiTL5 and 105se5 Movement in ndS Unrestricted funds General fund 1,148,461 159,1911 188,•56 1,277,526 TOTAL FUNDS 1 148,461 59.1911 188.256 77.596 A current year 12 tnonths and prior year 12 months combined position is as follows.. Net tnovem¢Dt in funds At 3111ZQ2 At 111121 Unrestricted funds General filnd 3,162.202 1,737,330 4,899,532 TOTAL FUNDS 3,162,202 1737 330 4,899,532 A CUTrent year 12 months and prior year 12 months combÈn¢d net movement in fun(Ss. included in the above are as follows.. Intoming resources Re50ur¢es expended Gains and losses Movement in funds Unrestricted funds Generdl fi]nd 1.712,285 (540.334) 565.379 1,737,330 TOTAL FUNDS 1712,285 540,334} 565.379 l 737 330 16. RELATED PARTY DISCLOSURES The following donations have been re¢eived from companies ¢ontrolled by the trustees. 2022 2021 W & H Elliotts Lilnited UTban Depot Limited ECG Property Investments i 00,000 350.000 650.000 250.000 NO Gonditiorts were attached to any of the above donations. Page 18