## **Mary Hare Foundation Trustees’ Report and Financial Statements** 


For the period ending 31 August 2023 









**Fundraising for Mary Hare School for deaf children** Registered charity number 1002680 



## **THE MARY HARE FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** 

||**Page**|
|---|---|
|Reference and administrative details of the company, its Trustees, and|1|
|advisors||
|Trustees’ report|2 – 5|
|Independent auditors’ report on the financial statements|6 - 9|
|Statement of financial activities|10|
|Balance sheet|11|
|Statement of cash flows|12|
|Notes to the financial statements|13 - 22|





## **THE MARY HARE FOUNDATION** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS** 

## **FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Trustees** 

Mrs Harriet McCalmont (Chairman) Mr Richard Benyon Mrs Camilla Hargreave Kirsten Loyd (retired 31[st] December 2022) Sarah Henderson (retired 31[st] December 2022) Mr Kit Loyd Mr Christopher Lumley (Treasurer) Mr Richard Parry Mr Andrew Strivens Mrs Georgina Woods Mrs Emma van Zeller Mr James Ward (elected 15 May 2023) Mrs Charlotte Hextall (elected 15 May 2023) 

## **Registered address** 

Arlington Manor Snelsmore Common Newbury Berkshire RG14 3BQ 

## **Bankers** 

Lloyds Bank Plc 5 Bridge Street Newbury Berkshire RG14 5BQ 

## **Solicitors** 

Knights Rivergate House Newbury Business Park Newbury Berkshire RG14 2PZ 

## **Independent Auditor** 

Crowe U.K LLP Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL 

## **Foundation Secretary** 

Peter Robson 

Page 1 



## **THE MARY HARE FOUNDATION TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 AUGUST 2023** 

The Trustees present their report and the accounts for the year ended 31 August 2023 prepared in accordance with applicable accounting standards and the Statement of Recommended Practice for Accounting and Reporting by Charities issued in March 2005. 

## **Reference and Administrative Information** 

The Mary Hare Foundation was incorporated under a Trust Deed dated 19 March 1991 as a charitable foundation.  It is a registered charity, number 1002680. 

The Mary Hare Foundation is the fundraising body for Mary Hare, registered charity number 1048386, which bears the administration costs of the Foundation. In the school year to 31 August 2023 the total costs were £104,566 (2022 - £103,017). The Mary Hare Foundation does not directly employ any staff but works with the support of members of staff of Mary Hare. 

The principal member of Mary Hare staff with responsibility for supporting the work of The Mary Hare Foundation is Jane McMillan, Director of Development.  She is supported by two fundraisers. The fundraising office operates from Arlington Manor, Snelsmore Common, Newbury, Berkshire, RG14 3BQ.  The Trustees of the Mary Hare Foundation meet twice a year, generally in December and May.  Between these meetings, Jane McMillan will meet regularly with the Chairman and other members of the board for their help and advice with fundraising. 

## **Governing Documents** 

The charity is governed by its Trust Deed and subsequent variations of that Deed.  After the most recent variation in March 2019, a consolidated deed was created, as permitted by the Charity Commission, to provide the charity with a working document that brings together all the variations into one document. 

## **Governing Body** 

A full Board of Trustees comprises 12 Trustees.  The retirement and election procedures are set out in the Trust Deed and subsequent variations of that Deed. 

On December 31st 2022 Kirsten Loyd and Sarah Henderson retired as Trustees of the Mary Hare Foundation.  The board of Trustees thanked Kirsten and Sarah for their help over many years and the huge contribution they had both made to the work at Mary Hare School. 

James Ward and Charlotte Hextall were both elected Trustees on 15th May 2023.  Induction of new Trustees includes an introduction to the work of Mary Hare and a visit of the activities undertaken by the charity.  The Chairman ensures that all new Trustees are aware of the policies and procedures of the Mary Hare Foundation and the Director of Development makes Trustees aware of good fundraising practice.  They are also provided with an induction pack to explain their role and responsibilities and a copy of the Safeguarding Policy of the school. 

Decisions are made at board meetings with the Chairman and Development Director meeting at regular intervals between board meetings to review progress. 

## **Objects & activities for the public benefit** 

The objects of the Foundation are the relief of persons suffering from deafness and the advancement of education amongst the deaf.  The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of the Mary Hare Foundation in planning future activities and setting policies for the future. 

Page 2 



**FOR THE YEAR ENDED 31 AUGUST 2023** 

## **THE MARY HARE FOUNDATION TRUSTEES’ REPORT** 

## **Objects & activities for the public benefit (continued)** 

In practice, the Foundation directs its support towards the Mary Hare charity (registered charity number 1048386) which comprises the deaf children and young people attending the Mary Hare School, the Mary Hare Primary School and the Burwood Centre and those who benefit from Mary Hare’s outreach work. 

Mary Hare will identify the needs of the organisation for which the Trustees of the Mary Hare Foundation agree to raise funds.  Funds are raised through applications to grant making trusts, foundations, companies and other organisations.  The Foundation also undertakes to organise events and appeals to individuals in support of its fundraising. 

## **Review of activities** 

## **Mary Hare School** 

The children attending Mary Hare Primary School completed their first year in the new building, completed in the summer of 2022.  Since the School opened its doors, there has been a lot of interest from families and Local Authorities in placing children in these wonderful facilities.  A new Reception Class was established at the start of the academic year.  The number of pupils at the Primary School continues to grow steadily and the children enjoy the very best start in education with highly qualified staff and a learning environment designed specifically to meet their needs. 

The School was inspected in January 2023 by Ofsted Social Care and found to be ‘Good’.  The report opened with these words: “Children receive support from dedicated staff who are passionate and enthusiastic. Children make great progress academically, and many spoke of their growing confidence and sense of identity since joining the school. Children speak powerfully of the journey from mainstream education into specialist provision, which for some has been a challenging and protracted process. They highlight a sense of belonging, the value of a shared experience and the strong friendships and bonds that they make with other children.” 

The Primary School and Secondary School both enjoyed a Coronation tea-party to mark the coronation of King Charles. 

The School hosted its Open Day on the 8th May.  The event was well attended and many families enjoyed a tour of the School, as well as listening to talks given by pupils in the 6th form, to inspire the younger visitors. 

Pupils continue to excel at Mary Hare School:  One 6th form pupil was awarded top prize in the grand final of the national competition Articulation, which took place at the National Gallery in London;  The Primary School pupils came third in the Panathlon Swimming Gala held at the London 2012 Aquatic Centre and our Cross-Country runners were winners at the Deaf Children’s Sports Association Cross Country event. 

## **Mary Hare Primary School Appeal** 

The Mary Hare Foundation is delighted that it reached its target of £4 million towards the new Primary School. In April, once the children had settled in their new environment, we invited our supporters to a grand opening event to celebrate the success of the Appeal and to thank everyone who had contributed. 

The visitors were entertained by the children with musical performances and speeches from older pupils who had previously attended the Primary School.  Peter Gale, former Principal of Mary Hare School, was invited to unveil a commemorative plaque: “It was a great honour to be asked back to officially open Mary Hare Primary School.  Whilst I was Principal and CEO throughout the project, this really was the ultimate team effort and I am grateful to donors and our Foundation, governors, staff and all of our professional partners.” 

Page 3 



## **THE MARY HARE FOUNDATION TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Events** 

In September we held another Quiz Night in London.  20 enthusiastic teams took part and raised £5,374. In October there was plenty of dancing and cheer at the Jigs and Reels evening held at Yattendon Barn. The total raised from this event was £14,500. 

## **Other Fundraising projects** 

## **Refurbishment of Jean Carnarvon Hall** 

Jean Carnarvon Hall is the social space for Mary Hare 6th Form.  It was built in the early 1990s and was beginning to show signs of wear and tear.  With a large grant from a supporter we were able to refurbish the toilets, laundry room and kitchen.  The facility is greatly appreciated by the students.  The remainder of the refurbishment will take place as soon as is practically possible. 

## **Group Hearing Aid** 

Just under £40,000 was raised in total for the upgrade to the technology used in the classroom to enable the pupils to hear the teacher and each other.  This is called the Group Hearing Aid and is now a state of art wireless system. 

Other donations included funding for regulation size goalposts and a new kit for the girl’s football team (who went on to win the National Deaf Championships), new musical instruments for the music department (used as a piece featured on BBC South Today) and a saw for the Carpentry department. 

## **Future Plans** 

The Foundation is planning to launch a Bursary Scheme.  The Ivan Tucker Bursary Scheme, (named after a former, inspirational Principal) will specifically help to fund students awaiting tribunal for a place in year 11 (GCSE’s) and year 12 (Sixth Form), before their Local Authority agrees to pay their fees. 

The School is working on a new Masterplan that has identified key areas requiring improvement in the future. A Sports Centre is top of the list, followed by improvements to the Facilities for the Vocational Curriculum and improvements to the main school building at the Secondary School. 

## **Risks** 

The Board of Trustees has examined the risks involved with fundraising for a major capital appeal and all other projects associated with Mary Hare.  The board is satisfied that the necessary systems are in place to monitor and control these risks. 

## **Reserves** 

The Mary Hare Foundation does not directly employ any members of staff or have responsibility for any premises or liabilities.  The Trustees therefore have no need to accrue reserves to maintain running costs. Each year, the Trustees will decide whether any unrestricted reserves are to be designated. 

At the year end the charity had free reserves as defined by the Charity Commission of £17,454 _(2022: £10,000)_ . 

Page 4 



## **THE MARY HARE FOUNDATION TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 AUGUST 2023** 

## **Responsibilities of the Trustees** 

The Foundation’s Trust Deed requires the Trustees to prepare for each financial year an annual balance sheet and statement of account which give a true and fair view of the state of affairs of the charity and of its financial activities for the period. In preparing these accounts the Trustees are required to: 

- select suitable accounting policies and apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- follow applicable accounting standards; and 

- prepare the accounts on a going concern basis. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the accounts comply with applicable Accounting Standards, Statements of Recommended Practice and the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. 

The Trustees met twice at formal board meetings during the year, and at other times in smaller groups to support the fundraising. 

Mrs H McCalmont Chairman 

## **Date:** 

Page 5 




## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE MARY HARE FOUNDATION** 

## **Crowe U.K. LLP** 

_Chartered Accountants_ Member of Crowe Global Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL, UK Tel +44 (0)118 959 7222 Fax +44 (0)118 958 4640 www.crowe.co.uk 

## **Opinion** 

We have audited the financial statements of The Mary Hare Foundation for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity’s affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

> Crowe U.K. LLP is a limited liability partnership registered in England and Wales with registered number OC307043. The registered office is at 55 Ludgate Hill, London EC4M 7JW. A list of the LLP’s members is available at the registered office. All insolvency practitioners in the firm are licensed in the UK by the Insolvency Practitioners Association. Crowe U.K. LLP is a member of Crowe Global, a Swiss verein. Each member firm of Crowe Global is a separate and independent legal entity. Crowe U.K. LLP and its affiliates are not responsible or liable for any acts or omissions of Crowe Global or any other member of Crowe Global. 

Page 6 



**INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE MARY HARE FOUNDATION (CONTINUED)** 


## **Other information** 

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report 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 respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: 

- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

Page 7 




## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE MARY HARE FOUNDATION (CONTINUED)** 

## **Auditor’s responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

## **Extent to which the audit was considered capable of detecting irregularities, including fraud** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. 

We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charities ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context for the charity were General Data Protection Regulations.  Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Governors and other management and inspection of regulatory and legal correspondence, if any. 

The greatest risk of material impact on the financial statements is from irregularities, including fraud, to be within donation income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Board about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, sample testing on donation income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance. 

Page 8 




## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE MARY HARE FOUNDATION (CONTINUED)** 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


Janette Joyce 

Senior Statutory Auditor 

For and on behalf of 

## **Crowe U.K. LLP** 

Statutory Auditor 

Reading 

19 December 2023 

Page 9 



## **THE MARY HARE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023** 

|Notes<br>**INCOME FROM:**<br>Donations and legacies<br>3<br>Investments<br>4<br>**Total income**<br>**EXPENDITURE ON:**<br>Raising funds<br>5<br>Charitable activities<br>6<br>**Total expenditure**<br>**Net (expenditure)/income**<br>Transfer between funds<br>11<br>**Net movement in funds**<br>Total funds brought forward<br>**Total funds carried forward**|**Restricted**<br>**Funds**<br>**£**<br>**267,451**<br>**-**<br>**267,451**<br>**-**<br>**327,779**<br>**327,779**<br>**(60,328)**<br>**4,873**<br>**(55,455)**<br>**93,885**<br>**38,430**|**Unrestricted**<br>**funds**<br>**£**<br>**163,808**<br>**451**<br>**164,259**<br>**111,006**<br>**30,926**<br>**141,932**<br>**22,327**<br>**(4,873)**<br>**17,454**<br>**40,000**<br>**57,454**|**Total**<br>**31 August**<br>**2023**<br>**£**<br>**431,259**<br>**451**<br>**431,710**<br>**111,006**<br>**358,705**<br>**469,711**<br>**(38,001)**<br>**-**<br>**(38,001)**<br>**133,885**<br>**95,884**|_Total_<br>_31 August_<br>_2022_<br>_£_<br>_1,166,358_<br>_15_|
|---|---|---|---|---|
|||||_1,166,373_|
|||||_117,351_<br>_1,541,862_|
|||||_1,659,213_|
|||||_(492,840)_<br>_-_|
|||||_(492,840)_<br>_626,725_|
|||||_133,885_|



The statement of Financial Activities includes all gains and losses recognised in the period. 

The notes on pages 13 to 22 form part of these financial statements. 

Page 10 



## **THE MARY HARE FOUNDATION BALANCE SHEET** 

## **AS AT 31 AUGUST 2023** 

|Notes<br>**CURRENT ASSETS**<br>Debtors<br>8<br>Cash at bank and in hand<br>Creditors: amounts falling due<br>within one year<br>9<br>**Net current assets**<br>**Total net assets**<br>**CHARITY FUNDS**<br>Restricted funds<br>10<br>Unrestricted funds<br>10<br>**Total funds**|**2023**<br>_2022_<br>**£**<br>**£**<br>_£_<br>_£_<br>**3,450**<br>_38,679_<br>**92,434**<br>_96,966_<br>**95,884**<br>_135,645_<br>**-**<br>_(1,760)_<br>**95,884**<br>_133,885_<br>**95,884**<br>_133,885_<br>**38,430**<br>_93,885_<br>**57,454**<br>_40,000_<br>**95,884**<br>_133,885_|**2023**<br>_2022_<br>**£**<br>**£**<br>_£_<br>_£_<br>**3,450**<br>_38,679_<br>**92,434**<br>_96,966_<br>**95,884**<br>_135,645_<br>**-**<br>_(1,760)_<br>**95,884**<br>_133,885_<br>**95,884**<br>_133,885_<br>**38,430**<br>_93,885_<br>**57,454**<br>_40,000_<br>**95,884**<br>_133,885_|
|---|---|---|
|||_133,885_|
|||_93,885_<br>_40,000_|
|||_133,885_|



The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 

## **Mrs Harriet McCalmont** 

**Date:** 


The notes on pages 13 and 22 form part of these financial statements 

Page 11 



## **THE MARY HARE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023** 

|Notes<br>**Cash flows from operating activities**<br>Net cash used in operating activities<br>14<br>**Change in cash and cash equivalents in the period**<br>Cash and cash equivalents at the beginning of the period<br>**Cash and cash equivalents at the end of the period**<br>15|**2023**<br>**£**<br>**(4,532)**<br>**(4,532)**<br>**96,966**<br>**92,434**|_2022_<br>_£_<br>_(524,205)_|
|---|---|---|
|||_(524,205)_<br>_621,171_<br>_96,966_|



The notes on pages 13 to 22 form part of these financial statements 

Page 12 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** 

## **1. ACCOUNTING POLICIES** 

## **a) Basis of preparation of financial statements** 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

The Mary Hare Foundation meets the definition of a public benefit entity under FRS 102. 

## **b) Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

## **c) Going concern** 

The Trustees have considered the ability of the charity to continue operating for the foreseeable future. The trustees consider there is a reasonable expectation that the charity has adequate resources to continue in operational existence for at least twelve months from approval of these accounts and for this reason continue to adopt the ‘going concern’ basis in preparing these accounts. 

## **d) Income** 

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

Administrative costs of The May Hare Foundation are being met by Mary Hare. The Mary Hare Foundation's administrative costs shown in the Mary Hare School accounts for the period to 31 August 2023 were £104,566 (2022: £103,017). These costs are included in Income as donated services with the equivalent amount included in expenditure. 

Page 13 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **1. ACCOUNTING POLICIES (continued)** 

## **e) Expenditure** 

Fundraising costs comprise the costs associated with fundraising activities carried out by The Mary Hare Foundation. 

Costs of generating funds are costs incurred in attracting voluntary Income, and those incurred in trading activities that raise funds. 

Charitable activities comprise those donations made by The Mary Hare Foundation in accordance with its objectives. 

All expenditure is inclusive of Irrecoverable VAT. 

## **f)** 

## **Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Institution with whom the funds are deposited. 

## **g)** 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **h) Cash at bank and in hand** 

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening or the deposit or similar account. 

## **i) Liabilities and provisions** 

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, It Is probable that a transfer or economic benefit will be required In settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates It will pay to settle the debt or the amount It has received as advanced payments for the goods or services It must provide. 

## **2. Judgements In applying accounting policies and key sources of estimation uncertainty** 

The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for Income and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. No significant judgements have been noted which require disclosing within the financial statements. 

Page 14 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** 

## **FOR THE YEAR ENDED 31 AUGUST 2023** 

## **3. Income from donations and legacies** 

|**Donations**<br>General donations<br>Mary Hare (donated services)<br>Mary Hare School<br>Burwood<br>Primary School<br>Sports Hall|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>154,498<br>-<br>98,528<br>14,425<br>267,451|**Unrestricted**<br>**funds**<br>**£**<br>59,242<br>104,566<br>-<br>-<br>-<br>-<br>163,808|**Total**<br>**31 August**<br>**2023**<br>**£**<br>**59,242**<br>**104,566**<br>**154,498**<br>**-**<br>**98,528**<br>**14,425**<br>**431,259**|_Total_<br>_31 August_<br>_2022_<br>_£_<br>_55,570_<br>_103,017_<br>_5,941_<br>_2,500_<br>_999,300_<br>_-_|
|---|---|---|---|---|
|||||_1,166,358_|



## **4. Investment income** 

|Investment income|**Unrestricted**<br>**funds**<br>**£**<br>451|**Total**<br>**31 August**<br>**2023**<br>**£**<br>**451**|_Total_<br>_31 August_<br>_2022_<br>_£_<br>_15_|
|---|---|---|---|



Page 15 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **5. Expenditure on raising funds** 

## **Costs of raising voluntary income** 

|**Restricted**<br>**Funds**<br>**£**<br>Fundraising costs<br>-<br>Administrative costs (donated by<br>Mary Hare)<br>-<br>Secondary School<br>-<br>Bank charges<br>-<br>-<br>**6.**<br>**Analysis of expenditure on charitable activities**<br>**Summary by fund type**<br>Donations to Mary Hare|**Unrestricted**<br>**funds**<br>**£**<br>6,380<br>104,566<br>-<br>60<br>111,006<br>**Restricted**<br>**funds**<br>**£**<br>358,705|**Total**<br>**31 August**<br>**2023**<br>**£**<br>**6,380**<br>**104,566**<br>**-**<br>**60**<br>**111,006**<br>**Total**<br>**31 August**<br>**2023**<br>**£**<br>**358,705**|_Total_<br>_31 August_<br>_2022_<br>_£_<br>_13,376_<br>_103,017_<br>_898_<br>_60_|
|---|---|---|---|
||||_117,351_|
||||_Total_<br>_31 August_<br>_2022_<br>_£_<br>_1,541,862_|



## **7. Trustees’ remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ . 

During the year ended 31 August 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ 

## **8. Debtors** 

|Gift aid tax rebate<br>Prepayments|**2023**<br>**£**<br>**3,300**<br>**150**<br>**3,450**|_2022_<br>_£_<br>_38,529_<br>_150_|
|---|---|---|
|||_38,679_|



Page 16 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** 

## **FOR THE YEAR ENDED 31 AUGUST 2023** 

## **9. Creditors: Amounts falling due within one year** 

|Other creditors|**2023**<br>**£**<br>-|_2022_<br>_£_<br>_1,760_|
|---|---|---|



## **10. Statement of funds** 

## **Statement of funds – current period** 

|_Balance at_<br>_1 September_<br>_2022_<br>_£_<br>**Unrestricted funds**<br>**Designated funds**<br>Primary School Capital Appeal<br>_30,000_<br>Secondary School General<br>_-_<br>**General funds**<br>General Fund – all funds<br>_10,000_<br>**Total Unrestricted funds**<br>_40,000_<br>**Restricted funds**<br>Primary School Capital Account<br>_92,306_<br>Sports Hall Fund<br>_-_<br>Jean Carnarvon Hall Refurb<br>_-_<br>Mary Hare School<br>_1,579_<br>Bursary Fund<br>_-_<br>**Total Restricted funds**<br>_93,885_<br>Total of funds<br>_133,885_<br>All restricted funds relate to Mary Hare.|**Income**<br>**£**<br>**-**<br>**-**<br>**164,259**<br>**164,259**<br>**91,768**<br>**14,425**<br>**100,000**<br>**54,141**<br>**7,117**<br>**267,451**<br>**431,710**|**Expenditure**<br>**£**<br>**(30,926)**<br>**-**<br>**(111,006)**<br>**(141,932)**<br>**(184,074)**<br>**-**<br>**(100,000)**<br>**(43,705)**<br>**-**<br>**(327,779)**<br>**(469,711)**|**Transfers**<br>**in/out**<br>**£**<br>**15,926**<br>**25,000**<br>**(45,799)**<br>**(4,873)**<br>**-**<br>**-**<br>**-**<br>**4,873**<br>**-**<br>**4,873**<br>**-**|**Balance at**<br>**31 August**<br>**2023**<br>_£_<br>**15,000**<br>**25,000**<br>**17,454**|
|---|---|---|---|---|
|||||**57,454**|
|||||**-**<br>**14,425**<br>**-**<br>**16,888**<br>**7,117**|
|||||**38,430**|
|||||**95,884**|
||||||



Page 17 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **10. Statement of funds (continued)** 

## **Statement of funds – prior period** 

All restricted funds relate to Mary Hare 

|_Unrestricted funds_<br>_Designated funds_<br>_Primary School Capital Appeal_<br>_Secondary General_<br>_General funds_<br>_General Fund – all funds_<br>_Total Unrestricted funds_<br>_Restricted funds_<br>_Primary School Capital Account_<br>_Mary Hare School_<br>_Burwood_<br>_Total of funds_|_Balance at_<br>_1 September_<br>_2021_<br>_£_<br>_138,612_<br>_-_<br>_10,000_<br>_148,612_<br>_473,113_<br>_5,000_<br>_-_<br>_478,113_<br>_626,725_|_Income_<br>_£_<br>_41,251_<br>_-_<br>_117,351_<br>_158,602_<br>_999,330_<br>_5,941_<br>_2,500_<br>_1,007,771_<br>_1,166,373_|_Expenditure_<br>_£_<br>_-_<br>_(898)_<br>_(116,453)_<br>_(117.351)_<br>_(1,530,000)_<br>_(9,362)_<br>_(2,500)_<br>_(1,541,862)_<br>_(1,659,213)_|_Transfers_<br>_in/out_<br>_£_<br>_(149,863)_<br>_898_<br>_(898)_<br>_(149,863)_<br>_149,863_<br>_-_<br>_-_<br>_149,863_<br>_-_|_Balance at_<br>_31 August_<br>_2022_<br>_£_<br>_30,000_<br>_-_<br>_10,000_|
|---|---|---|---|---|---|
||||||_40,000_|
||||||_92,306_<br>_1,579_<br>_-_|
||||||_93,885_|
||||||_133,885_|



Page 18 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **10. Statement of funds (continued)** 

|**Restricted income**<br>The Adrian Swire Charitable Trust<br>The Childwick Trust<br>Hays Travel Foundation<br>The Beaverbrook Foundation<br>Sir Jeremiah Colman Foundation<br>The MacDonald-Buchanan Charitable Trust<br>The Wates Foundation<br>The Worshipful Company of Lightmongers<br>Garfield Weston Foundation<br>Greenham Trust Limited (see note below)<br>The Bernard Sunley Foundation<br>The Gosling Foundation<br>The Headley Trust<br>The Hedley Foundation<br>The Hobson Charity<br>The Iliffe Family Charitable Trust<br>The Leslie Smith Foundation<br>The Mabs Mardulyn Charitable Foundation<br>The Mayhew Charitable Trust<br>John Lewis & Partners<br>The Worship Company of Clothworkers<br>The Wyfold Charitable Trust<br>Payne Gallwey Charitable Trust<br>Other amounts|**2023**<br>**£**<br>**15,000**<br>**10,000**<br>**8,055**<br>**5,000**<br>**5,000**<br>**5,000**<br>**5,000**<br>**7,810**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**10,000**<br>**-**<br>**18,000**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**178,586**<br>**267,451**|_2022_<br>_£_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_250,000_<br>_248,498_<br>_75,000_<br>_10,000_<br>_25,000_<br>_2,000_<br>_10,000_<br>_10,000_<br>_5,000_<br>_18,000_<br>_10,000_<br>_16,050_<br>_150,000_<br>_5,000_<br>_10,000_<br>_179,273_|
|---|---|---|
|||_1,007,771_|



## **Greenham Trust Limited** 

The income from the Greenham Trust Limited was donated via The Good Exchange. It represents donations from Charitable Trusts and individuals who support the Primary School Appeal via the Good Exchange. This sum includes donations from: 

|Albert Hunt Trust<br>Greenham Trust Limited<br>Ian Harrison<br>Others & Gift Aid|**2023**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|_2022_<br>_£_<br>_25,000_<br>_187,497_<br>_2,500_<br>_33,501_<br>_248,498_|
|---|---|---|



Page 19 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **11. Summary of funds** 

## **Summary of funds – current period** 

|_Balance at_<br>_1 September_<br>_2022_<br>_£_<br>Designated funds<br>_30,000_<br>General funds<br>_10,000_<br>Restricted funds<br>_93,885_<br>_133,885_<br>_Summary of funds – prior period_<br>_Balance at_<br>_1 September_<br>_2021_<br>_£_<br>_Designated funds_<br>_138,612_<br>_General funds_<br>_10,000_<br>_Restricted funds_<br>_478,113_<br>_626,725_|**Income**<br>**£**<br>-<br>164,259<br>267,451<br>431,710<br>_Income_<br>_£_<br>_41,251_<br>_117,351_<br>_1,007,771_<br>_1,116,373_|**Expenditure**<br>**£**<br>(30,926)<br>(111,006)<br>(327,779)<br>(469,711)<br>_Expenditure_<br>_£_<br>_(898)_<br>_(116,453)_<br>_(1,541,862)_<br>_(1,659,213)_|**Transfers**<br>**in/out**<br>**£**<br>40,926<br>(45,799)<br>4,873<br>**-**<br>_Transfers_<br>_in/out_<br>_£_<br>_(148,965)_<br>_(898)_<br>_149,863_<br>_-_|**Balance at**<br>**31 August**<br>**2023**<br>_£_<br>**40,000**<br>**17,454**<br>**38,430**|
|---|---|---|---|---|
|||||**95,884**|
|||||_Balance at_<br>_31 August_<br>_2022_<br>_£_<br>_30,000_<br>_10,000_<br>_93,885_|
|||||_133,885_|



## **Designated Funds** 

This represents reserves the charity has allocated to the Primary School capital appeal and also to the Secondary School in general. 

## **General Funds** 

This represents the free reserves of the charity, which are not designated for particular purposes. 

## **Restricted Funds** 

Restricted funds arise as a result of conditions imposed by donors. Such funds are expended in accordance with their conditions and the specific projects as noted below. The main such funds are: 

## **Primary School Capital Appeal** 

This represents restricted donations that are to be used to cover the cost of building a new Primary School. 

## **Mary Hare School** 

This represents restricted donations received towards the Mary Hare School. 

## **Sports Hall** 

This represents restricted donations received towards the Sports Hall. 

## **Jean Carnarvon Hall Refurbishment** 

This represents restricted donations received towards the Jean Carnarvon Hall Refurbishment. 

## **Bursary Fund** 

This represents restricted donations received towards the Bursary Fund. 

Page 20 



## **THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **12.       Analysis of net assets between funds** 

## **Analysis of net assets between funds – current period** 

|Current assets<br>Creditors due within one year<br>Total|**Restricted**<br>**funds**<br>**2023**<br>**£**<br>38,430<br>-<br>38,430|**Unrestricted**<br>**Funds**<br>**2023**<br>**£**<br>57,454<br>-<br>57,454|**Total**<br>**funds**<br>**2023**<br>_£_<br>**95,884**<br>**-**|
|---|---|---|---|
||||**95,884**|



## **13. Analysis of net assets between funds – prior period** 

|_Current assets_<br>_Creditors due within one year_<br>_Total_|_Restricted_<br>_funds_<br>_2022_<br>_£_<br>_95,645_<br>_(1,760)_<br>_93,885_|_Unrestricted_<br>_Funds_<br>_2022_<br>_£_<br>_40,000_<br>_-_<br>_40,000_|_Total_<br>_funds_<br>_2022_<br>_£_<br>_135,645_<br>_(1,760)_|
|---|---|---|---|
||||_133,885_|



## **14. Reconciliation of net movement in funds to net cash flow from operating activities** 

|Net income/expenditure for the period (as per Statement of<br>Financial Activities)<br>**Adjustments for:**<br>Decrease/ (increase) in debtors<br>(Decrease) in creditors<br>**Net cash (used in) operating activities**|**2023**<br>**£**<br>**(38,001)**<br>**35,229**<br>**(1,760)**<br>**(4,532)**|_2022_<br>_£_<br>_(492,840)_|
|---|---|---|
|||_(27,779)_<br>_(3,586)_|
|||_(524,205)_|



Page 21 



**THE MARY HARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023** 

## **15. Analysis of cash and cash equivalents** 

|Cash in hand<br>**Total cash and cash equivalents**|**2023**<br>**£**<br>**92,434**<br>**92,434**|_2022_<br>_£_<br>_96,966_|
|---|---|---|
|||_96,966_|



## **16.       Analysis of changes in net debt** 

|Cash at bank and in hand|_2022_<br>_£_<br>_96,966_<br>_96,966_|**Cash flows**<br>**£**<br>**(4,532)**<br>**(4,532)**|**2023**<br>**£**<br>**92,434**|
|---|---|---|---|
||||**92,434**|



## **17. Related party transactions** 

During the period, 3 Trustees or related parties provided donations to the foundation totalling £5,725 _(2022: £NIL)._ 

## **18. Mary Hare** 

The Mary Hare Foundation is associated with Mary Hare, a charitable company limited by guarantee (registered no. 1048386). The address of this company is Arlington Manor, Snelsmore Common, Newbury, Berkshire, RG14 3BQ. 

Mary Hare's activities include providing primary and secondary education for severe and profoundly deaf children. 

Mary Hare bears the administration costs of The Mary Hare Foundation. During the year to 31 August 2023 the total costs were £104,566 _(2022: £103,017)_ . 

During the year The Mary Hare Foundation paid donations to Mary Hare totalling £358,705 _(2022: £1,541,862)_ . 

## **19. Controlling Party** 

The Mary Hare Foundation is controlled by its Board of Trustees. Accordingly, there is no single individual that can, or does, exert control over the charity. 

Page 22