## **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 DECEf*lBER 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
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