THE ELLIS CAMPBELL FOUNDATION
ANNUAL REPORT FOR THE YEAR ENDING 31[st] DECEMBER 2023
| Other (ad hoc) |
Youth Led System Change |
Totals | ||
|---|---|---|---|---|
| Hampshire | No of grants |
3 (2) | 6 (7) | 9 (9) |
| £k | £ 4,875.00 | £ 23,658.00 | £ 28,533.00 | |
| Rest of U.K. | No of grants |
3 (14) | 16 (4) | 19 (19) |
| £k | £ 20,600.00 | £ 286,268.00 | £ 306,868.00 | |
| Perthshire and Scotland |
No of grants |
NIL (2) | NIL (NIL) | NIL (2) |
| £k | £0.00 | £0.00 | £0.00 | |
| London | No. of grants |
NIL (NIL) | NIL (1) | NIL (1) |
| £k | £ - | £ - | £ - | |
| Totals | No of grants |
6 (18) | 22 (12) | 28 (30) |
| £k | £ 25,475.00 | £ 309,926.00 | £ 335,401.00 |
Notes: 2022 figures in brackets for comparison
There were 28 (15) recipients of a grant this year with a total sum of £335,401.00 ( £347,375.00) donated.
REGIRED cHARy NUMBER: 802717 RKPORT OFTHE TRusfEFS AND AiJDTTED FINANCIAL ATEME FOR THE YEAR ENDED 31 DECEMBER 2023 FOR ELLIS CAMPBELL FOUNDATJON
ELLIS CAKPBELL IIOUNDATION cor{rEfs OF THE FINANCIAL ATME3 FOR THE YKAR ENDED 31 DECEMBER 2023 Page Report oftbe Trnstees Report Df tht Independen¢ Audltors 5 to 7 Stxtemenl of Fin*neial Aclivldes BAIAnce Sheet Cish Flow StRlem¢nt io Nolej lo tkne Cash Flow Statement Notes to the FiDAncifil StAlement$ 12 to 19
ELLIS CAMPBEIL FOUNDATION REPORT OF THE TRu&fEES FOR TItE YEAR ENDED 31 DECEMBER 2023 The trnstees present their report with the fjnancial statements of the charity for the year ended 31 December 2023. The tru51ees have odopled the provisions of Accounting and Reporting by Charities: Sialen)ent of Recommend¢d Pra¢tic¢ applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard 8pplicable in the UK and R¢public of Ireland (FRS 102) (efftctive l January 2019). OBJEcfivES AND Acfiv]TIFS ObjectlV¢5 And aims Under the lemis of the settlement. the truslees can apply the thnds io any charitsble purpose and in such manner Ihe truslee5 may firjm time lo Itm¢ in their absolute discrclion ihink wiilK)ul detracling from the general nature of ille charitable trust broadly focussing on the edutiOn and L8SiStancc of persons under the #ge of 25, inoluding financial aid and support into work. The scttlemenl also rcfcTs to supporting youn¥ people's spiritUf¢l. ni¢nial and physical capacilies lo enable Ihem lo grow lo full malurity as individuals and membrrs of Society and so Ihal IIKir life cK)nditions may be improved or'otherwise lo further Ihe education of such persons" In 2020 the trnslees committed to 8 7-monih long programme lo improve th¢ impacl ofihe Foundation, lcd by Ten Years Time. Wc focussed on how we could support young people in the UK lo build youth poww and leadership so that the young people we Support are 8ble to efflIvelY influence the world around them. We met with around 80 leade in ihis rield from the young people Ihcmselves lo a wide range of experts working in education, youth services, criminal juslice, Ihe care syst¢in, community service4 housing and mental health plu$ researchers ftnd policy makers. On the back of that programme, we were able la pivot our fundin8 to enable youth power and leadetship to grow. with the hope that over lirne we can influence and educate others lo support young people in the sam¢ way. Our funding criteria is to build youih power leadership 5yslemically through yothh led learning 8nd developmcnl opportunilies, with 8 focus on supporting young 1¢4ders from minorilized and marginalised communilies outside Gter IA)ndon. We gre a180 supporting collabornlion between our new partners, so that they learn from and support each other in the ground breakin8 yoiiih led work that they do. The truslees meet twice o year lo diKu$s and agree grant m8kin8 policy 8nd 8rant decisions and are led by th¢ CEO Lauta Montgomery. WI is also a ttustee and took on the CEO wjle in January 2023. ACHIEI VEMENT AND PERFORMANCE Ilow our ACtlvllie3 Achleve publle benefit As slated Mbove, Ihe trustees recently undthook • deep dive into how best to build youth power and leadership and continue lo lurn from the young people Ihemselvcs and the widcr sector to ensure thcy hre having the greatest impact. The trustees are confid¢nt that their grants and other activiti¢s are not only having a direct benefit to the individuals and organisAtion5 th¢y support bul 8190 to Ihc wider communities in which ihey are based. The trvsttts regularly monitor progress and impact to ensure they Are makin8 d]sionS and supw)rting young people in the best P055ible w&y. The InteeS feel the objectives of the charity hav¢ been mel and tlie public have benefited firjm ils activities during Ihe yeor. FINANCIAL REVIEW Fin8nclAI positlon Total income fn)rn donatiws and inveslments for the yearfjmounted lo £525.296 (2022: £563,824). The ¢harity mad¢ 28 donation8 during the year totallin8 £335.093 (2022.. 28 donations lotslling £347.075). The avera8e donation was £11,968 (2022: £12396), Ofthe donations paid in the year. £88,000 weff committed in prior periods. Investnjent polley And objectlv The charity has no restrictions on ils p)wers to inv¢sL The policy of the trustee5 15 to seek to maximige total retUTD, wlii15t mainlainiD8 the real value of the portfolio and Dot subjecling it to undue risk. Trnstees review investmcnt perforniance at each me¢tin& and their policy at least annually. At 31 De¢¢mber 2023 the chwity held fixed Set invcstmcnts with a value of £4,543.726 (2022.. £4,704,910). At this date the inve$tment portfolio wmprised UK social impact equities, wop¢rty ffversions and con)mer¢ial property. The clthTity manages it5 investments on a totd retum basis so that investineDt inwne is simply one componrnt of the total investment r¢tut
ELLIS CAMPBELL FOUNDATION REPORT OF THE TRUSTEES FOR THE YKAR ENDED 31 DECEMBER 2023 FtNANCIAL REVIEW ResteS policy The charity holds only unrestricted funds. The reSe¢S policy of the Chlty is lo retain at least one yearfs expenditur¢ on charitsble activitie5 8s cash and liquid investments. The Charity oiherwlse Anvesls ils funds in investment property lo generate long terni income. Ai the year ¢nd reserves lol•lled £4.8m of whith £1.5m is considered liquid. The ITusle¢s include this Ilquidity position as part of thelr consiikntion of Intio1 donations. FLrruRK PLANS The charity intends lo conlinue to fulfil its objects through its donation making policy. STRucfuRE. GOVERNANCE AND MANAGEME Govtrnlng document The charity is controlled by ils govcming documenl a deed of In1 and rA)nstileS an unin¢orpor8kd chaTity. Ellis Campbell Foundation is 8ovemed by the tked of Settlemcnt dated 12 De£cmbcr 1989. TTuslees meet twice a year lo consider grant application4 review invesfmcnt pttfom]ance and discuss xnatters of strnlegic and administrative nature. The pow¢r to appoint new tnjstees is vested in the cxisling Injsle Induction lliid trAlnlng of new trusleej Each of the tntslees brings with Ihem sp¢cific relevant ar¢a8 of expertise, including financial, organisational, poll¢y development and le881. Updating on new relevant issues relating kn ilie Ellis Campkll Foundalion occurs PAri of the agenda of trustees, meelings. Following the strAtegic review In 2020 pnd the commithient to building youth power and lepder5hip, the twslecs H8reed to Appoint 3 new young tNst¢es to the Board, They had been Sitting in tNsle¢ meetings for a number of years befor¢ being appointed and had laken part in the strategic Teview and through Ihi$ l)ad learnl about the Foundalion Rnd gained a good understanding of how charilies woik. On b¢in8 appoinied as trustees, the 0 made clear lo them the duties and obligalions they were taking on artd conlinues lo ensure thal all Injslees are fulfilling their dulles and are sufficiently well infonned to do so. Key management remunerfttlon Laura Montgomery is both 4 trustee and part lime CEO and r¢ttAves a lary from ECF cquating to £15.000 per hnnum for th¢ 0 rol¢. Thi$ was &eed wlanimously b¢ the Trustees (excluding L&urn who wL8 conflicted) at the meeting on 8 March 2023 and is CODfmed in the minutes of thai meeting. ECF does not have a rcmun¢ralion committee given Laura is th¢ 501e and first ever employee, but the trustee5 will continue lo monitor whcther this salary remain5 appropriate lo the role 8nd contributlon IAUrn is making to meet the obj¢dives of ECF. Rlsk mngement The ttuslees are responsibl¢ for ¢stsblishin8 monilorin8 the internal control systems of the charity. The major risks which may impad on its activities have been reviewed during the year. The key risk is financial risk. operntional risk 15 considered low. The trustees arc satisfied that the system of internal wntrols currently in place is adequate. whilst recognising ih&t they are designed to manage rather than eliminate risk. Inlwnal controls are reviewed on an ongoing basis &s part of ihc day-today risk manug¢m¢nt process. REFERENCE AIYD ADM[NIRATIVE DETAIIS Reglstered Ch4rlty number 802717 Prlnclpjl sddress Shalden Park St¢8ding Shalden Alton Hampshirc GU34 4DS Page 2
ELLIS CAMPBELL IIOUNDATION REPORT OF TFIE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees M D C C CAmpbell MBE DL L F Canipbell J L C C8mpbell A J Andrew L G Montgomery l G R Andrew W J C Andrew H RA Andrew Auditors c.hampion Accounlpnts LLP I Worsley Court High Street Worsley Manohe5ter M28 3NJ Solleltorn Geofftey Le&v¢r Solicilors LLP 251 Upper Third Strcel Bouverie Square Central Milion K¢ynes Buckinghamshirc MK9 IDR Bankery CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mallin8 Kent ME19 4JQ srATEMENT OF TRuEES, RESPONSIBILrriES Th¢ tN51ee5 &re responsible for prewing the Report of the Twslees and the fInCIal slatements in accordance with applicable law gnd Unilcd Kingdom Acwunling Standards (United Killgdom Generally A¢¢epted A¢countingPractice). The law applicable to ¢harities in England ond Wal¢& the Ch&ritie5 Aci 2011, Charity (Accounts ond Reports) RegulAtions 2008 tsnd the provision5 of the tswst deed requireg Ihe Iru5tees to prepare financial $latements for each financial year which give a true 8nd fair view of the state of affairs of the charity and of Ihe inming rewurces and application of resources, including the income and cxpenditiir4 of the charity for that period. In preparing those financial statements, the trustecs required to select suitable J¢wunting policies then apply them consislentty: Obse the method$ and prinGiples in the Charity SORP: make judgements and estimat¢s ihat are reasonable and prndent: 51ale wliether applicable accounting Standards have been follow subjed to any mateTial departures disclosed and explained in the fanCIal slatements; prepare th¢ fiJJancial sts1emts on thc 8OiD8 concun ba51$ unless it is inappropriate to presume that the charity will ontinue in businc5S. The trustees Tesponsible for keepin8 propcr a¢counting record5 which disclose wilh re&sonable ac¢urncy at any time the financial position of the charity and io en&ble them to ensure that the financial ststemenls comply with the Chariti¢s Act 2011, the Charity (Accounts 4nd Reports) Re8ulations 2008 8nd the provision5 of the ttwl deed. They are also responsible for s8fegu8rding the assets of the charity and hcntt f(r tsking re&sonAbl¢ steps for th¢ prevention and deteclion of fraud and other iryegularAtie&
ELLIS CAMPBELL FOUN TION REPORT OFTHE TRusrE FOR THE YEAR ENDED 31 ECEMBER 2023 Approved by oyderofthe board of tsvstees on.. on its behrby. L G Montgomery- Tntte Pag¢4
REPORT OF THE INDEPENDENT AUDoRs TO THE TRUSTELS OF ELLIS CAMPBELL FOUNDATION Opinlon We have audited the financial stslements of Ellis Campbell Foundation (the 'tharityl for the year ended 31 December 2023 which comprise the Statement of Financial Aclivities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of $ignifiwt acwunlin8 p)licies. The fiDan¢ial reportin8 framework that been applied in Ih¢ir preparnlion 15 appIlble law and United Kingdom AuntIng Standards (Uniled Kingdom Generally Accepted Accounting Pracli¢¢). In our opinion ilie financial statements: give a true ond fair view of Ihe slate of the charitys afffiits w at 31 Dec¢mber 2023 and of its incoming resources and Application of rcsources, for ihe year then ended., have been properly prepaTed in accordance with United Kingdom Generally Accepled Accounting Practice; and have be#n prepared in accordance wilh th¢ requir¢m¢nts orth¢ Charities Acl 2011. Bgsis for oplnlon We conducted our audit in accordance with Inl¢malional Standards on Auditing (UK) (ISAS (UK)) and Applicable law. Our responsibilitie5 under those slandanls are furth¢r described in ihe Auditors. responsibilities for Ihe audil of the rinoncial statements seclion of our POrt. We ore independent of the charity in accordance with the ethical requirements Iliat are relevant lo our audit of the financial statements in the UL includin8 tlie FRCS Eiliical Standard. Hnd we have fulfilled our other ethical T¢sponsibiliti&8 in aordanCe with these requirements. We believe that the 8udil evidence we liave obtained is sufficient and appropri4t¢ lo provide a basis for ouropinion. Conclusions relfiling to golng coneern In auditing lh¢ finRncial stalemenls, we have n¢Illded that the lrnstees, use of the going concern b18 of accounting in the pr¢p4ralion of the fmancial ststements is appropTiOte. Based on thc work we have wforni¢d, we havc not identificd any materi81 uncertainties fflaling to events or condilions thaL individually or collectiv¢ly, may c85t signifiwjt doubt on the charity's fjbility to continue &8 8 goin8 wn¢¢m for a pcriod of at leL8t twelve months from wlwi the fjnancial statemcnts are authorised for iswe. Our responsibilities and the restsibIlItieS of the tru51ees with Tespect to going concern are described in th¢ r¢levanl sections of thi5 reporL Other Inform#tlon The In{eeS are responsible for the other infornialion. The other infomialion comprises the infomialion In¢luded in the Annual Report, othcrthan the finan¢i81 slalemrnts and our Reprtof ihe Independent Auditors thereon. Our opinion on the fmgncial statements does not wver the other inforn)ation and. exc1 to the extent otherwise cxplicitly staled in our report, we do not expre55 Y forni ofassurnnce conclusion theMn. In connection with (wr audit of th¢ finan¢ial stslements, our responsibility is to rcad the oiher infomiation and, in doing so, consider whether the other infornialion 1$ materially inconsistent wilh the financial stslements or our knowledge obtained in the audit or otheTrvise appears to bc mplerially misslat¢d. If we identify such materlal inconsistencies or apparent molerial misslalements, we are required to deterniine wheiher this gives rise to a material misslatement in the fll]anGial statem¢nts them%lves. If, baqed on the work we hAV¢ rf0m}¢d, we cOlUde that ihere is a material misstatcment of this other Infoa0n, we w¢ required to report that fact. We hav¢ nothing Io T¢POrt in this Argard. Matters on whlch we Are requlred to report by excepdo We have nothing lo reFL)rt in respecl of the following matt¢ts where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion: the infornlation given in th¢ Report of the is inconsi51ent in gny Materi respe(X with the fllwicial statements. or sufficient accounting rccords have not been keptr, or the fancial statements are not in agreementwith the ¢ullting reLDtth andrturns" or we have not received All the infomiation and cxplanations we reipire for our wdiL
REPORT OF THE INDEPENDENf AUDrroRS TO THE TRUSTEES OF ELLIS CAMPBELL FOUNDATION R¢sponslbilitles of truste As explained more fully in ihe Statement of Tntees, RcstA)nsibilities, the tnjstees are responsible for the prcparntion of the flllanoial statements which give a Irue and fair view. and for such internal control Ls the trnslees deterniine is ¢sSary to enable the preparation of finala1 stalements that are free from material misstatem¢nt. whether due to fraud or error. In preparing th¢ fmanoial ststements. the trnsle¢s are responsible for assessing the chariWs ability lo conli])ue as a going cA)ncem, disclosing, a8 applicable. matters relaled to going con¢em and using the going concem basis of aceounling unless the tr7ceS either illlend kn liquidale Ihe charlty or lo ruse opernlion4 or have no re81i5tiG allemativc bul lo do Our regponsibllities for the 4udil of the finAnclAI sl8t¢ments We have been &ppointed &8 auditors under Se¢lion 144 of the Charities Act 201 J and report in aCrdanCe with tli¢ Act and relevant regulalions made or having cffecl ihercundcr, Our objectives arc lo obfain reftsonablo &8suran¢e oboui whether the finonciRI Stat)1$ a whol¢ pre free from molerial missl8temenl, whether due to frnud OT error. and to issue a Reprt of the Independent Auditors Ihal includes our opinion, Reasonpbl¢ assurgnce is a high level of wurnnce, bul is not a guarantee Ilial on audil eonducled in accordance with ISAS (UK) will always del¢¢t a material misslal¢menl when il cxist5. Misstalemenls can arise from fraud or error and are consid¢r¢d malcrial if, individu8lly or in the aggregate, they could reasonably be expecled lo influence ihe economic decisions of users iakcn on the basis of these fiTwKial slalcments. The exlent to wht¢h our procedu9 are cap4ble ofdetccting i¢Sl8[]I]eS, iludIng fraud is d¢tsiled below: As part of our pl8nDÉn8 proc We enquired of management the systems and controls Ihe charity has in place. th¢ ar¢8$ of the financial slalements ihal are mostly susceptibl¢ to the risk of irregularilies and fraud. and whether th¢re was any known, suspecled or illeged fraud. The charity did not infonn us of any suspected or olleged hud. We obiaincd an understanding of the legal and regulatory frameworks applicable to ihe Gharity. We d¢M)ined that tlie following were most relevant lo the flnancial Slatements: Charities Act 2011, FRS 102 & guidanc¢ 8iv¢n by the Charity Commission for England & Wales. We considered Ihe incenlives and opportunilie$ that exisl in the charity, including the cxlent of manag¢m¢nl bia5, which present a pot¢niial for irregularilies and fraud to be Eveated, and tailor¢d our risk assessment accordingly. Using our knowledge of the ch8rity. together with the discusslons held with ihe charity at lh¢ plannin8 St8VF* formcd a conclusion on the risk of misstatement du¢ lo irregularili¢s including fraud and tailored our procedures accordinB lo thi$ risk assessment. In response to the risk of irregularities and non-o)mplian¢¢ with laws •nd regulations. including fraud, we designed procedures whith in¢luded: Enquiry of management Alld thosc ¢hwBed willi governance around athial and potcntiol litigation and Claims 85 well as actual, suspcc¢ed and 8lleged fraud. Reviewing minutes of tneetin8s of those charged with governance; Assessing the extent of wmplian¢¢ with the laws and re8vlatiOnS conside1 to have a direct material ¢ffe¢t on the financial statements or the operntions of the enlity through cnquiry and inspe¢lion; Reviewing fmancial staiement disclosures and testing to supporting domenlation to assess Complice with applicable laws and regul8tions' Perforn)ing audit work over the risk ofD)anagcmcnt bias St ov¢rTide ofcontrols, including testing ofjoum ¢ntrie5 and other adjustments for appropri8leness, evaluating tbe business rationale of significant transactions outside thc nonnal course of business and reviewing ac1xmt1ng estimates for Indi10[S of pot¢nti81 bia5. Page 6
REPORT ofi THE INDEPENDE AUDrfoRSTO ThE TRiISTEES OF LLIS CAMPBELL FOUNDATION Th¢ are inhereni limilations in the 8udii procdurts described above. The more removed that law5 and TegulalioDs are from financial transactions, the less likely il is thal we would become aware ornon-rnP1IanCc. Audititig standards also limit the audit procedure$ required to identify non-wmpliance wilh laws and regulations to enquiry of the directors 8nd other rnanagemenl and the inspedioD of regulatory and legal ¢OTTespondence, if any. The risk of not delecling a material misslat¢ment resulting from fraud is hlghcr Ihm one r¢suliing from error. as fixud tnay involvc a)Ilusion. forgery. intentional omission$. misreprescntations, or the ovttride of inl¢mal control. A further description of our responsibilities for the audit of the fanCIal stalemcnts is loc8ted on ihe Financial Reporting Council's website at www,frc.org.uklauditorsrespnsibslities. This descrbplion fomis paTt of our Report of the Ii)dependent Auditors. Use of our report This report 15 made solely lo the charitys trustees. as a body, in accord8rKe with Part 4 of the Chwilies (A¢wunts and Reports) Regulations 2008. Our audil work lias been undertaken so thAt we might 9tatc lo the charity's trnsl¢es Iliose matters we are required to slate to them in an auditors, report and for no other purpose. To Ilie fullest extenl pennitted by law. we do not aceepl or &8sume responsibility lo anyone other than ibe tharity and the tharity'5 truslees &$ a body, for our audit worK for this repott or for the opinions we hove forn]ed. c.hampion Aw)untanls L I Worsley Court High Street Worsley Manchester M28 3NJ Mark TurncTFCA (Senior Statutory Auditor) Page 7
ELLIS CAMPBELL FOUNDATION srATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 21123 2023 Unrestricled fund 2022 Tot funds Noles tNCOME AND ENDOWMENTS FROM Donations and legacies 300,000 350,000 Investment sncome 225,296 213.824 Tothl 525,296 563.824 EXPENDITURE ON CIIAiathble Activllies Charitabl¢ donalions Govcrnance costs 494,642 68,412 432,955 48.188 Total 563,054 481,143 Nel gaind(losses) on investmenls (80,287) 377,123 NET INCOMEIIEXPENDITURE) {1 J 8,045) 459,804 RKCONCILIATION OF FUNDS Totsl funds brought forward 4,899,532 4,439,728 TOTAL FUNDS CARRIED FORWARD 4,781,487 4,899.532 The notes forni part ofthese fillm[1 statements
ELLIS CAMPBELLFO TION BALANCE SHEET 31 DECEMBER 20LI 2023 2022 Total fjJAds funds FIXED ASSETS Inveslments Inve5knent$ Investment propety 12 13 1,643.726 2,900,000 1.614,527 3.090.383 4,543.726 4,704.910 Debtors Cash irt hand 14 82.8l2 601132 68,706 412.418 684.944 481,124 CREDITORS knounls failing duo wiihin on 15 (4M7,183) (286,502) 237.761 194,622 TOTAL ASSETS L LIABILITIES 4,781.487 4.899,532 NKT A&8ETS 4,781.4B7 4.899,532 16 UJ]restri¢ted fund8 4.781,417 4,899.532 TOTAL FUNDS 4.781,487 4,899,532 'Ike fin8D¢i•I ststanents by the Board of Thute¢s arKI autIlsed for Isgue were signed on its behalf by.. L G Montgomery. TTUStee Th• notes fonn part of theoc fillClaI
ELLIS CAMPBELL FOUNDATION CASH FLOW sfATEMCI NT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes CAsh flows from op¢rRtlng activities Cash gelleratcd from opcralions 57.694 101,743 Nel cAsh provided by opeTattng o¢livities 57,694 lQl,743 CA8h flows from investing activiiles Purcbase of fixed asset inveslmcnts Sale orrixcd &8set inve$lmenls Sale of investment property Dividends received {1.009,773) 939,537 151.133 51,123 (1,066.174 > 247.324 55,927 Nel cash provided byl(used in) invesling aclivilies 132,020 (762,923) Change In t118h #nd cash equlvalents In the reporting perlod Ciili and ¢nsh equivAlÈnts fit the beginning of ihe i'eportlng peylod J89.714 (661,180) 411418 1.073,598 CRsli and cfish equivaltnts at tht elld ol the repoitlng period 602,132 412,418 The notes fomi part of the5¢ financi81 ststements Page io
ELLIS ClPBELL FOUNDATION NOTES TO THE CASH FLOW sfATEMENT FOR THE YEAR ENDKD 31 DECKMBER 2023 RECONCILIATION OF NET (EXPENDifuREyINCOME TO NET CASH FLL)W FROM OPERATING AcfiviTIES 2023 2022 Net (expenditureyincome for tkne rtportlng period (as per tht StAtement of FlnJDciAI Activitiu) Adjustments for: lA)s5(gain) on investments Dividends received Increase in debtors Increase in creditors (118.045) 459,804 80,287 (51,123) (14.106) 160,681 (377,123) (55,927) (17.971) 92.960 Net cnih provlded by oper8tlons 57,694 101,743 ANALYSIS OF CIIANGES IN NET FUNDS Al Iiir23 Cosh flow Ai 31112123 Net cash CASI) al bank and in h8nd 412.418 189,714 602,132 412,418 189,714 602,132 Totsl 411418 189,714 602,132 The notes forni part ofthese financtal sWcm¢nts Pag¢ 11
ELLIS CAMPBELL FOUNDATION NOTES TO THE fANCIAL STATEmEr[s FOR THE YEAR ENDED 31 DECEMBER 2023 CHARrry INFORMATJON The Ellis Campbell Foundation is a charity re815tered in England and Wale5. the charivs registered number is 802717 and Tegis*red office address is Shalden Park St¢adin& Shalden. Alton, Hwnp5hire. GU34 4DS. ACCOUNTING POLICIF3 BASIS of prepgring the fAnCIAl Ststements llie financial slalements of the charity. which is a public Ixnefil entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'A¢counling and Reporting by Charilies: Statement or Reconuncnded Prryclice applicable to ¢harilies preparing their Unts ill accDrd8nce with ihe FiEbanGi81 Reporting Siandard opplicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Financial RertIng Standard 102 The FInCIal Reporting SIdard applicable in Ihe UK Republic of Ireland, and ihe ChArities Acl 2011. The financial sialcmenls have been prepared under the hislorical cost )nvenlion, with Ihe exception of inv¢5tments wliich ore included at markd value, as modified by the revaluation of certain a55ets. The Irt1 Constitulcs a Public Benefit Entity under FRS 102. The chArity presents its results 09 a single ¢nlity only. The pt¢5entational is £ Sterlin8. Ineome All income is reco8nised in the Slalemenl of Finan¢iJl Activitits once th¢ ch&rity has entitlement to the funds, it 1$ probable Ihat the Inc}¢ will be receiv and the amount can be measured reliably. Kxpendlture Liabilities are recognised 8s expenditure &8 soon as there is # legal or cK)nstrnctive obligation committing the charity lo that eXpendire, it is pyobable ihal o transfer of economic benefits will be rqutred in seulemenl and the ainount of the obligalion cpn be measured reliably. ExnditUre is a¢counled for on an a¢crnals basis and has been classified undcr headings that awegale all wst related to the calegory. Where costs cannot be directly attributed to particular headin they have been allocaled to aGtivities on g basis ¢onsislenl willi ihe use of resour¢es. Donations payable are payments made to third parties In the furtherance of Ihe chatitable objectives of Ihe Cliarffity. Single or multi-year donations are accounied for whcn either the reclpicnl has o r¢850nable expectalion that they will rc¢eAve th¢ donation and thc trustees have a8re¢d to pay th¢ donation without rA)ndilion, or the recipient has a r¢asonabl¢ expectation that they will Teceive a th)nation and any Lx)ndilion attsching to the donAlion is outside the control of the charity. Donations offeycd subject to ¢ondilions which have not been met at the year end date are noted as a commitment bul not rU¢d as expenditu Chnrftsble Aetlvltles Costs of Charitable activities arc incurttd on the tharitys edtiOnal operntions. including support wsts and costs relating to the govcmance of the charity. Covernince ¢oits ovemance costs eA)mprisc all CA)sts involvirtg the publio accountability of the charity and ils complignce with regulation and good practice. These cnsts include costs related kn the independent examination WMI l¢gal fees tog¢ther with an 8pportiODment of ov¢rhead and support W5ts. Ftxed asset Investments Investmcnts are ststed at market value as at the balance she& date thpn invesln)ents not listed on a recolSed 5to¢k exchang¢, which are included at th¢ trtees, valuation. The Statent of Financial Activities includes the net gains and losw arising on revaluation and disp)sals tlwoutst the year. TAxotlon The charity is exempt from tax on its charitable tIvitie> Pase 12 ntlnued...
ELLIS CAMPBELL FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS- eontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- contlnued Fund Accountlng Unrestricled funds can bc wed in accoTdance wilh the charitable objectivas It the discrclioD of the trustees. R¢5tricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donoror when funds aye raised for particular restricted purposes. UnreAllsed and re4llstd galns ind1055 All gains and losses ar¢ tsken lo the Statement of Financial Activilies &9 they arise. Realised gains and losses on investnients are calculated os the difference between 5&1e$ proceeds And opening markd value (purchase dale if later). Unreglised gains and losses ore calculated As the difference bchyeen ihe mgrket value 81 the ycar-end and opening markel value (or purchase d8te if laler). Rcaiised and unmlised gain$ aye not s¢paral¢d in the Statement of Financial Activili¢s. FlnHhelAI Instruments The charity has elecied to apply the provisions of Sc¢tion I l &SIC Financial Instnllnenls, of FRS 102 10 all of its fanCIal iDstrumenl& Financial instnunents Bre recolSed when the charity becomes party to the rnntrnclual provisions of the inslrnmenL Financial assets and liabilities offset, with the nel amounls presented in il)e fin8n¢ial slalements, when Iliere is leg8lly enforceablc righl to Sel off Ihc reeognised gmounts and there is an intention lo settle on a nd bu5is or to realise the a$5el and settle the Itability simulioneously. Basi¢ fin8n¢ial &ssels, which include trade debtors. oiher debtors and c8sh and bank bhlances, &r¢ iniltally measured at transaction price including transa¢liort costs and are subsequently caTti¢d at amortised cost usitig the effective inleresl Melld. Financial assets classified as receivable within one ye8rare not amortised. Financial liabilities and quity instNm¢nts are classified accordin8 to the 5ubstsnce of the contractual arrangements entered into. An equity instnllnent is any n1raCt thai eviden¢e$ 8 residu41 intere51 in the Asse15 of the chaTity after dcductlng all of its liabilities. Basio financial liabilities, including trade CA110rS WKI other creditor4 that are classified os debt, are initially recogniscd 8t Ir8llsH¢iion price unless the OTf8ngement ¢onslitutC5 4 fmancuig transactio wliere tho debt instsument is measured at the preyent Valueof the fv[e paymcnts discounted &t a market rate of Inter1. Financial Ixabilities are d¢recogniscd whw and only wh¢n, the cbarity's ¢ontrthal obligations gre discharged, cancelled. or they expire. Golng concern BAsed on ¢urrent trading and futur¢ expeclalions. in spilc of the loss in the cutTent year, the trustees we confjdent the charity will ¢ontinue to trade profitably in future periryls and 8ener3t¢ suffici¢llt cash flows to meet its obllgalions as they fall due for payment. Pag¢ 13 continued...
ELLIS CAWBELL FOUNDATION N(yfES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 DECEMBER 2023 CRITICAL ACCOUNTING JUDGEMENfs AND KEY SOURCES OF LfflMATION UNCKRTAINTY Signlfieant judgements and estimales In the application of th¢ charity's aceounling policies. the tNstces are Tequired to make judgements, ¢sliiiiates and assumptions about the carrying amount of assets and liabilities thai are not r¢adtly appareni fiDm other sources. The cslimates and associated suMp[lOnS are b85ed on historical werienr£ and other faclots that are considered to bc Tclevanl. Actu81 results Jnay differ from tIKse estimates. The cslimates underlying assumplions ore reviewed on an ongoing b]$. Revisions lo aw)unling eslimales are recognised in the period in which Ihe eslimate is revised where the revision affects only Ihat period, or in the period of Ihc revision and future periods where the revision affects both cutTenl and fvlure periods. A key source of estimation unc¢rt8inty relates lo th¢ valuation of investmenl prowties, where a valuation is undertak¢n annually os 8131 December by the trusle Investhient properties We valued 8t £2,900.000 31 DeIllber 2023 (2022: £3,090,383) and pre shown in not¢ 13 of these financipl slatem¢nl& DONATIONS AND LEGACIES 2023 2022 Donation$ 300,000 350,000 INVESTME INCOME 2023 2022 Rental income Dividends- UK quoted equiti¢s 174,173 51,123 157,897 55.927 225,296 213,824 ellARABLE EXPENDITURE Grnnt nding of activitie5 (sec nol¢ Support Jsts (see note 8) Totsl$ Charitable donatioos Governance cos15 494.642 494,642 68,412 68.412 494,642 68.412 563,054 Page 14 ¢ontinued...
ELLIS CAMPBELL FOUNDATION NOTLS TO THE FINANCIAL sfATEMENTS- eontinued FOR THE YEAR ENDED 31 DECEMBER 21ll3 GRANTS PAYABLE 2023 2022 Charitsble doDations 494,642 432,455 SUPPORT COSTS Governance sts aovernonce costs 68,412 AUDITORS, REMUNERATION 2023 2022 Fees payable to lh¢ charity's auditors for the audit ofthe charitys financial 8tsiemenls 5,000 5,000 10. TRUSTEES, REMUNERATION AND BENEF115 Trnstees arc considered to bc key management peisot)nel. One of the trustces L G Montgomery, h18 been paid rcmuneration during the year from m employment wiih ihe clwity. Total remunerntion paid eo tnte¢S w&8 £12228. No pension conlribulions were made on bchalf of tntstees. Trustees, txpense¥ There werc no trustees, cxpenses paid for th¢ year ended 31 December 2023 Th)r for the year ended 31 December 2022. 11. srAFF Costs The ollly employees ofthe charity in the year were the Irt1¢¢4 ofwhith one received emoluments. The averagc monthly number of ¢mployees dwing the year was 8$ follows: 2023 2022 Ttusle¢ No employees Teceived emoluments in excess of £60,000. Page 15 continued...
ELLIS CAMPBELL FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS- eontlnued FOR THE YEAR ENDED 31 DECEMBER 21n3 12. Listed investments MARKKTVALUE Al l January 2023 Additions DisposRIs R¢valualion5 1,614,527 1.009.773 (977,320) (3,254) At 31 December 2023 1,643,726 NET BOOK VALUE At 31 December 2023 1,643,726 At 31 Decembcr 2022 1,614,527 There were no investmcnl hssels outside the UK. 13. INVESTMENT PROPERTY riAIR VALUE Al l Janry 2023 Disposals 3,090,383 (190,383) Al 31 December 2023 2,900,000 NET BOOK VALUE Ai 31 Dec¢mber 2023 2,900.000 At 31 Dceember 2022 3,090,383 Investment prOrtIeS were Tevalucd 31 December 2023 by the trustees 8t open market value. To complete this process the trustees usc external professiotial valuets to help them detern?in¢ the relevant Allunts. Th¢ primary sourc¢ of evidence for the pmpety v•luation$ is recenl. uJmpor8ble market transaotions on an orns-lenh basis. If inveslmeni properties had not been revalued, thcir hisknic co$¢ would have been £1,632,192 (2022.. £1,651,492). Fair value ot 31 December 2023 As rewes¢nted by: Valuation in 2022 V81uation in 2023 3,090,383 (190,383) 2,900,000 Page 16 contlnued..
ELLIS CAMPBELL FOUNDATION NOTFSTO THE FINANCIAL sfATEMENTS- conliDued FOR THK YEAR ENDED 31 DECEMBER 2023 14. DEBTORS: AMOUNIS FALLING DIJE TllIN ONE YKAR 2023 2022 Trade debtors Other debio Prepayinenls and accrned incom¢ 9,608 63,558 9.646 40,500 1,629 26.577 82,812 68,706 IS. CREDITORS: Amou FALLING DUE wrrHIN ONK YEAR 2023 2022 Trade creditors Taxation ond Social security Other creditors 4.355 6,442 436.386 467 5,462 280,573 447.183 286,502 Within oiher cr¢dilors 15 £39,462 (2022: £31.125) r¢loting to d¢feffed income in respect of rentsl incoinc and £391,549 (2022: £232,000) relating to committed donations. MOVEMENT IN FUNDS 16. Nel movem1 in fimd3 At 31112123 At iiin3 iinre$tAtled funds General fund 4.899,532 (118,045) 4,781,487 TOTAL FUNDS 4,899,532 (118,045) 4,781,487 Nct movement in funds, included in the Abov¢ are 0$ frillows: InmIng Oains and Movemeftt in funds expended Unrestricted funds G¢nernl fiu 525296 (563,054) (80.287) (118,045) TOTAL FUNDS 525396 (563,054) (80,287) (118,045) Page 17 ntinued...
KLLIS CAMPBELL FOUNDATION NOTES TO THE FINANCIAL STATEMEfm- eontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 16. MOVEMEKf IN FUNDS- eoDthiued CompArAtives for movement In funds Net movcment in funds At 31112J22 At 111122 Unrestrlcled fullds General fund 4.439,728 459,804 4,899,532 TOTAL FUNDS 4.439,728 459,804 4,899,532 Comparative net movement ID hnds. included in th¢ above #Te follows: Incoming Resources resources cxpended Gains and losses Movement in fundy Unrestrleted funds Genernl nd 563,$24 (481,143) 377,123 459.804 TOTAL FUNDS 563,824 (481,)43) 377,123 459,804 A current year 12 months and prioryear12 months combind position is Is follows.. Nd movement in funds At 31112123 At Iiir22 Unre5trieted funds Gcneral fund 4.439.728 341.759 4.781,487 TOTAL FUNDS 4,439,728 341.759 4.781,487 A cu¢nt yeAr 12 months and prior year 12 months ¢4)mbiDed net movement in funds. included in the above ar¢ as follows: Incoming Resourceg expended Gains and kjsses Movement ID funds Unrestricted funds Genernl fund 1.089,120 (1.044,197) 296.836 341.759 TOTAL FUNDS 1.089,120 (1,044.197) 296,836 341.759 Page 18 continued...
ELLIS CAMPBELL FOUNDATION NOTES TO THE FINANCtAL sfATEMEwfs- continued FOR THE YEAR ENDED 31 DECEMBER 2023 17. RELATED PARTY DISCLOSURES The following donations have been received from companies controlled by the ITU5tees. 2023 2022 W & H Elliotls Limited ECG Property Investnients Limited Fagon Investments Limited Ellis & Sons Amalgwnated ProFrties Limited IOD.000 250,000 125,OCrf) 50,000 125,000 No conditions were attached io any of the above donationk Page J9
The Ellis Campbell Foundation Shalden Park Steading Alton Hampshire GU34 4DS Champion Accountants L 1 Worsley Court High Street Worsley Manchester M28 3NJ Dear Sirs The following representation and experience such as we Campbell Foundation Ltd f supporting documentation belief. are made on the basis of enquiries of management and staff with relevant knowledge consider necessary in connection with your audit of financial stalemenls of the Ellis the year ended 31 December 2023. These enquiries have included inspection of here appropriate. All representations are made to the best of our knowledge and General We have fulfilled our re May 2024, under the C accordance with appli Accepted Accounting P representations to you. ponsibililies as trustees as sel out in the temis of your engagement letter dated 1 st mpanies Act 2006 and the Charities Act 2011 for preparing financial slatements in ble law and United Kingdom Accounting Standards (United Kingdom Generally actice), for being satisfied that they give a true and fair view and for making accurate 2 All the transactions un records. ertaken by the charity have been properly reflected and recorded in the accounting All the accounting recor you with unrestricted ac information requested, I The Charily Commissio s have been made available to you for the purpose ofyour audit. We have provided ess lo all appropriate persons within the charity, and wth all other records and related cluding minutes of all management and truslee meetings and correspondence with 4 The financial stalement are free of malerial misstatements, including omissions. 5 The effects of uncorrect misstatemenls are immaterial both individually and in total, as detailed below Inv tment valuation 2.536 Internal control and fraud 6 We acknowledge our re to prevenl and detect fr financial slatements ma ponsibility for the design, implementation, and maintenance of internal control systems ud and error. We have disclosed lo you the results of our risk assessment that the be misstaled as a resull of traud. We have disclosed to y management, employe effecl on the financial st u that there are no instances of known or suspected fraud affecting the entity involving s who have a significant role in internal control or others that could have a material tements. We have also disclose financial statements co to you thal there are no allegations of fraud or suspected fraud affecting the entily's municated by current or former employees, analysls, regulators, or others. Assets and liabilities The charily has satisfa except for those that ar ory title lo all assets and there are no liens or encumbrances on charity's assets, disclosed in the notes to the financial statements. 10 All actual liabilities, con as appropriate. ngent liabilities and guarantees given to third parties have been recorded or disclosed 11 We have no plans or in measuremenls or classi enlions that may materially alter the carrying value and where relevant the fair value Ication of assets and liabilities reflected in Ihe financial statements. Accounting estimates 12 Significanl assumptions are reasonable. used by us in making accounting estimates, including those measured al fair value.
Legal claims 13 We have disclosed lo y and such matters, as ap all claims in connection with litigation that have been, or are expected to be, received ropriale. have been properly accounted for, and disclosed in, the financial statements. Laws and regulations 14 We have disclosed to y regulations whose effec u all known inStanS of non-compliance or suspected non-compliance with laws and s should be considered when preparing the financial statements. Related parties 15 Related party relations financial statements. transactions and are no and accounting sland shareholders, directors, them lo enter into tran balances due to l {from) ips and transactions have been appropriately accounted for and disclosed in the e have disclosed to you all relevant information concerning such relationships and aware of any other matters which require disclosure in order to comply with legislative rds requirements. Related parties include businesses under common control. senior management (and their immediate families) or olhers whose position enables actions with the charity other than at ami's length. At the year-end Ihere were no trustee's and other related parties outside of the 1000/0 owned group. Trustees 16 Laura Montgomery is th benefits in kind during o slatements. All items o reimbursed by the trust benefits in kind. The tru their connected person December 2023 or at transactions and relalio only paid member of staff, and no other trustees received any remuneration, including relating lo the year ended 31 December 2023 other than as disclosed in the financial personal expenditure paid by the charity on the trustees, behall have either been es concerned Idireclly or through the trustees, loan accounts} or have been treated as tees will bear any tax arising on such benefits in kind. No trustee, shadow trustee or had any indebtedness lor agreement conceming indebtedness} to the charity at 31 ny time during the period, other than disclosed in the financial statements. All other ships beeen the charity and related parties have been disclosed to you. Subsequent events 17 All events subsequent t properly accounted for the date of the financial statements which require adjuslment or disclosure have been nd disclosed. Going concern 18 We believe that the cha that current and future have considered a peri that no further disclosu the financial statements ity's financial statements should be prepared on a going concern basis on the grounds ources of funding or support will be more than adequale for the charity's needs. We d of twelve months from the date of approval of the financial statemenls. We believe es relaling to the charity's ability to continue as a going concem need to be made in Grants and dOnaon$ 19 All grants, donalions a been notified to you. Th d other income, Ihe receipt of which is subject to specific terms or conditions, have re have been no breaches of tems or conditions in the application of such income. We acknowledge our legal r so far as we are aware, ther report ofwhich you are una sponsibililies regarding disclosure of information to you as auditors and confirm Ihat is no relevant audit information needed by you in connection with preparing your audit are. Each trustee has taken all th any relevant audit infomiati steps that he ought to have taken as a trustee in order to make Ihemselves aware of and to establish that you are aware of that information. Yours failhfully Laura Montgomery Signed on behalf of the boa of trustees.