Companies House
The Melanie White
Foundation
Limited
Annual Report and Financial
Statements
5 April 2024
Comp&ny Llmrted by Guoranlet
Regislrallon Number
03750780 IErvJlarKJ and Wales)
Charlty Re9istrallon Number
1077150
*ADWR4EZ*
2210112025
COMPANIES HOUSE
A12
#148

Contents
Reports
Reference and administrative infomation
Directors, report
Independent auditorfs report
Flnanclal slatemenls
Statement of financial activities
10
Balance sheet
Statement of cash flows
12
Principal accounting policies
13
Notes to the financial statements
17
The Melanie INhite Foundation Limited

Reference and admlnlstrative information
Directors
M White
P Reynolds
James Whittaker {reS￿ned.. 16 April 2024)
Nicholas Mumford {appointed.' 3 December
2024)
Company secretary
Registered office
61 Grosvenor Street
London
W1K3JE
Company reglstratlon number
Charity registration number
Auditor
03750780 (England and Wales)
1077150
Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Bankers
C Hoare & Co
37 Fleet street
London
EC4P 4DQ
Citibank NA, London
Citigroup Centre
25 Canada Square
61h Floor CGC2
Canary Vtharf
London
E14 5LB
Investment managers
Thesis Asset Management Ltd
Exchange Building, St John's Street
Chichester
West Sussex
P019 1UP
Solicitors
Wilsons LLP
Alexandra House
st Johns Street
Salisbury
SP12SB
The Melanie 14Vhite Foundation Limited 1

Directors, report Year ended 5 April 2024
The directors present their statutory report together with the financial statements of The
Melanie Vthite Foundation Limited for the year ended 5 April 2024.
This report has been prepared in accordan￿ with Part Vlll of the Charities Act 2011.
The financial statements have been prepared in accordance with the accounting policies set
oul on pages 13 to 16 of the attached financial statements and comply with the
Memorandum and Articles of Association of The Melanie Vvhite Foundation Limited,
applicable laws and Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charrties preparing their accounts in accordance with the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102).
GOVERNANCE, STRUCTURE AND MANAGEMENT
Constitution
The Melanie Idlthite Foundation Limited is a company limited by guarantee (Registration
Number 03750780) and a registered charity (Registration Number 1077150).
Dlrectors
The names of the directors who served during the period and to the date of this report are
set out as part of the reference and administrative information on page 1 of these Annual
Report and Financial Statements.
The Articles of Association require a minimum of bwo directors and a maxlmum of seven.
Directors may c04)pt any person duly qualified to fill a vacancy in their'number or as an
addrtional director. Decisions on investments and donations are taken by all the directors.
Directors. responsibilities statement
The charitable company's direclors (who are also trustees of the Foundation for the
purposes of charity law) are responsible for preparing the annual report and financial
statements in accordance with applicable law and United Kingdom Accounting Standards
(Unrted Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to p￿pare financial statements for each financial year,
which give a true and fair view of the state of affairs of The Melanie White Foundation
Limited and of its income and expenditure for the financial year then ended. In preparing
these financial statements, the directors are required to..
seEect suitable accounting policies and then apply them consistently:
observe the methods and principles in Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to chartlies preparing their financial
statements in accordance with the Financial Reporting Standard applicable to the United
Kingdom and Republic of Ireland (FRS 102).,
make judgements and estimates that are reasonable and prudent"
The Melanie White Foundation Limited 2

Directors, report Year ended 5 April 2024
GOVERNANCE, STRUCTURE AND MANAGEMENT (continued)
Dlrectors. responsibilitles statement (continued)
state whether applicable UK accounting standards have been followed, subject to any
material departures disclosed and explained in the financial statemenls-
• prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
The directors are responsible for maintaining proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charitable company and which
enable them to ensure that the financial statements comply with Ihe Companies Act 2006.
The directors are also responsible for safeguarding the assets of the charitable company
and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularrties.
Each of the directors confirms that..
so far as the director is aware, there is no relevant audit information of which the
charitable company's audrtor is unaware,. and
• the director has taken all steps that helshe ought to have taken as a director in order to
make himselflherself aware of any relevant audit infonnation and to establish that the
charrtable company's auditor is aware of Ihat information.
This confirmation is given and should be interpreted in accordance with the provisions of
s418 of the Companies Act 2006
Risk management
The directors have identified the major risks to which the charity is exposed and remain
confident that they have in place systems and procedures to mitigate the risks. They feel
Ihat the main risk to which the charty is exposed is the protection of assels and income.
The income of the charity is derived from the portfolio of investments held within the charity.
The directors monitor the performance of the investments on a quarterly basis to consider
investment yields and capital growth.
Key management personnel
The directors are the key management and as such have not at any time received any
remuneration for their services.
Fund ralslng
The charrty does not fundraise directty with indDiiduals and therefore is nol registered with
the Fundraising Regulator. If donations from individuals are received the charity aims to
protect personal data and never sells data or swaps data with other organisations.
The Melanie l+Vhite Foundation Limited 3

Directors, report Year ended 5 April 2024
OBJECTIVES, ACTIVITIES AND RELEVANT POLICIES
Charitable objectives and activities
The charty's principal activity is its grant-making programme. In accordance with its Articles
of Association the charity is to promote any charrtable purpose or support any charty
selected by the directors. The directors seek through their grant-rnaking programme to
support charitable projects in areas identified as being of particular interest to them. These
areas include health, medicine, and social welfare. The directors do not anticipate any
changes to their grant making priorities.
The directors confirm that they have referred lo the guidance contained in the Charity
Commission's general guidance on public benefit when reviewing the charity's aims and
objectives and in planning future activities and setting the grant making policy for the year.
Whilst the directors are mindful of their own obligation lo ensure that the charity b8nefrts the
public generally. they take some assurance from the fact that recipients of grants are
themselves regulated to ensure that they operate for the public benefit.
Grant maklng policy
The directors take a strategic approach to grant-making and do not respond to unsolicited
applications. Potential recipients of grants are identified by the directors individually, in
areas where it is perceived that public benefit will be achieved.
Investment pollcy
The investment strategy is set by the directors, who consider the charity's income
requirements, the risk profile and the view of economic and market conditions. The
investment objectives are to obtain a balanced return from both capital gr￿h and income.
The directors consider the chanty's portfolio and inveslment performance on a regular basis.
ACHIEVEMENTS AND PERFORMANCE
During the year ended 5 April 2024, grants payable amounted lo £116,600 (2023
£777,707), however, two grant commitments, totalling £316,645, were written back in the
year as the recipient had not undertaken the proposed improvement works for which the
grants had been made.
Investment perfomiance
There were realised gains on investment disposals for the year ended 6 April 2024 of
£140,456. <2023 - loss of £1,098). Unrealised gains arising from changes in market value
on investments for the year ended 5 April 2024 were £1,121,697 {2023
losses of
£1.343,694).
The investment portfolio yielded dividends on UK Unit Trusts and rebates amounting to
£170,662 (2023 - £129,508) in the year. The directors consider investmeni perfomiance to
be in line with market conditions.
The Melanie White Foundation Limited 4

Directors. report Year ended 5 April 2024
FINANCIAL REVIEW
Results for the period
During the year ended 5 April 2024. the unrestricted funds generated income of £261.356
{2023 - £292,384) from inveslments, banking interest, donations and foreign currency gains
on monetary assets, primarity cash deposits, and incurred expenditure of £121,309 (2023
£792,371), of which 96.12°/o related to grants payable, not including the written back grants
totalling £316,645. The net income for the year on unrestricted funds was £456,692 and a
transfer was made to the expendable endowment fund to clear the account.
On the expendable endowment fund there was no income arising, investment manager
expenses of £12,79012023 £16,153) were incurred, investment valuation gain5 amounted
to £1,262,153 (2023 - losses of £1,344,792) and a transfer of £456,692 was made to cover
the deficit on the unrestricted fund.
The expendable endowment fund totalled £13,897,792 at 5 April 2024 (2023 - £12,191.737).
No funds were held on the unreslricted fund at 5 April 2024 (2023 - £nil).
Reserves pollcy and financlal posltlon
As at 5 April 2024 reserves of £13.897,792 were carried fonward in accordance wrth the
directors, policy on reserves. The policy is to expend the income generated by the
endowment fund to the fullest extent possible, in as much that the directors are able to
identify suitable recipients during the year. The endowment will be Invested with the intent
to, as far as possible, retain its capital value and produce an annual income.
The directors are satisfied with their grant making policy and it is their intention to support
wide and varied number of charities.
Approved by the directors and signed on their behalf by-
Paul Reynolds
Director
Approved on.. 1611212024
The Melanie White Foundation Limited
Registered Company Number 03750780 (England and Wales)
The Melanie INhite Foundation Limited S

Independent audltor's report Year ended 5 April 2024
Indapandent auditorfs report to the mèmbers of The Melanla White Foundatlon Limited
Opinion
We have audited the financial statements of The Melanie Ihjhite Foundation Limited (the
'charitable companl) for the year ended 5 April 2024 which comprise the statement of
financial activilies, the balance sheet. the statement of cash flows, the principal accounting
policies and the notes to the financial statements. 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 Siandard
applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting
Praclice).
In our opinion, the financial statements..
give a true and fair view of the state of Ihe charitable company's affairs as at 5 April 2024
and of its income and expenditure for the year then ended:
• have been properly prepared in accordance viith Unrted Kingdom Generally Accepted
Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS
(UK)) and applicable law. Our re5ponsibilrties under those standards are further described in
Ihe auditor's responsibililies lor the audit of the financial statements section of our report. Vve
are independent of the charitable company in accordance with the ethical requirernents 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 wilh these
requirements. We believe that the audit evidence we have obtained is sufficient and
approprlate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors, use of the going
concem basis of accounting in the preparation of the financial statements is appropriate.
Based on Ihe wod( we have perfomied, V￿ have not identified any material uncertainties
relating to events or conditions that, individually or collectively, may cast signrficant doubt on
the charitable company's abilty 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 directors with respect to going concern are
described in the relevant sections of this report.
Other matters
In the previous accounling period, the directors of the charitable company look advantsge of
audit exemption under s477 of the Companies Act 2006. Therefore the prior year financial
statements were not subject to audrt.
The Melanie White Foundation Limited

Independent auditor's report Year ended 5 April 2024
Other infomiation
The other informalion comprises the infomiation included in the annual report , including the
directors, report, other than the financial statements and our auditor's report thereon. The
directors are responsible for the other information contained within the annual report. Our
opinion on the financial statements does nol cover the other information and, except to the
extent othe￿iSe explicitly stated in our report, we do not express any form of assurance
conclusion thereon.
Our responsibility is to read the other infomation and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained
in the course of the audil or otherwi58 appears to be Material￿ misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to determine
whether this gives rise lo 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 infomiation. we are required to report that fact.
We have nothing to report in this regard.
Opinlons on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course ofthe audit..
• Ihe information given in the diredors, report, which is also the trustees, report for the
purposes of charty law, for the financial year for which the fin8ncial statements are
prepared is consistent with the financial statements,. and
• Ihe directors, report. which is also the trustees, report for the purposes of charity law, has
been prepared in accordance wrth applicable legal requiremer)ts.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the
directors, report. We have nothing to report in respect of the following matters in relation to
which the Companies Act 2006 requires us to report to you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have
not been received from branches not visited by us, or
• the financial statements are not in agreement with the accounting records and returns.. or
certain disclosures of directors, remur)eration specified by law are not made., or
• we have not received all the infonnation and explanations we require for our audit.
Responsibilities of dlrectors
A5 explained more fully in the directors, responsibilities statement set out on pages 2 and 3.
the directors {who are also the directors of the charitable company for the purposes of
company law) 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 directors
determine is necessary to enable the preparation of financial statements that are free from
material misststement, whether due to fraud or error.
The Melanie White Foundation Limited 7

Independent auditor's report Year ended 5 April 2024
Responslbllltles of directors {continued
In preparing the financial statements. the directors are responsible for assessing the charitable
company'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 directors either
intend to liquidate the charitable company or to cease operations, or have no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financlal statements
Our objectives are to oblain 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
auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance wrth ISAS (UK) will abNays detect a
material misstatement when rt exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected lo
influence the economic decisions of users taken on the basis of these financialstatements,
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 lo which our procedures
are capable of detecting irregularities, including fraud is detailed below..
We obtained an understsnding of the legal and regulatory frameworks that are applicable
to the charitable company and determined that the most signrficant are the Companies
Act 2006, the Charities SORP FRS 102 and the Charities Act 2011.
We understood how the charrtable company is complying with those legal and regulatory
frameworks by making inquiries to management and those responsible for legal,
compliance and governance procedures. We corroborated our inquiries through our
review of director meetings and papers provided to the directors.
We assessed the susceptibility of the charitable company's financial statements to
material misslatements. including how fraud might occur. Audit procedures performed by
the engagement team included..
Identifying and assessing the design and implementation of controls in place to
prevent and detect fraud:
Challenging assumptions and judgments made by management and the diractors
in its significant accounting estimates.
Identifying and testing journal entries, in particular adjustrnents made at the year-
end for financial statement preparation; and
Assessing the extenl of compliance with relevant laws and regulations by
reviewing correspondence with regulators and legal advisors.
There are inherent limitations In our audit procedures described above. The more removed
that laws and regulations are from financial Iransactions, the less likely rt is that we would
The Melanie l+Vhite Foundation Limited 8

Independent auditor's report Year ended 5 April 2024
Auditorfs responsibilltles for the audlt of the fjnanclal statements (continued)
become aware of non-compliance. Auditing standards also limit the audit procedures required
to identify nonwcornpliance wrth laws and regulations to enquiry of the directors and other
management and the inspection of regulatory and legal correspondence, rf any.
Material misstatements that arise due to fraud can be harder to detect than those that arise
from error as they may invO￿e deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's
website at ww.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs
report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance
with Chapter 3 of Part 16 of the Companies Ad 2006. Our audrt work has been undertaken so
that we might state to the charitable company's members those matters we are required to
state to them in an audrtor's report and for no other purpose. To the fullest extent permitted by
law, we do not accept or assume responsibilty lo anyone other than the charitable company
and the charitable company's members as a body, for our audit work, for this report, or for the
opinions we have fonned.
Katharine Patel (Senior Statutory Auditor)
For and on behalf of Buzzacott LLP, Statutory Auditor
130 Wood Street
London
EC2V 6DL
Date: 02 January 2025
The Melanie White Foundation Limited 9

Statement of financlal activities year to 5 April 2024
Unrestricted Expandable
funds endowment
Totsl
2024
Total
2023
Notes
Income from..
Investment income
Interest on short lerm deposits
Donations received from individuals
Net gains on foreign exchange
Total Income
170,662
3,286
80,712
6,696
261,356
170.662
3,286
80.712
6,696
261,356
129,508
162,876
292,384
Expenditure on:
On fund raising actiwties..
Investment management fees
On charitable activities..
Charitable expenditure
12,790
12,790
16,1S3
121,309
121,309
1316,645)
(195,3361
121,309
134,099
1316,645
(182,546)
792.371
808,524
12.790
Grants written back
Total expendlture
12.790
808,524
N•t Incomel{¢xpandltur•) before
(lossesllgains on Inveslments
456,692
112.790)
443,902
(516,1401
Nel gainsl{losses) on inveslmenls
1,262,153 1,262,153 {1,344.792)
N•t Incom•l(•xp?ndltur•) b•for• trnn•lern
458,e92
1,249,363
1,706.066 11,860,932)
Transfer betrween funds
{456,892)
456,692
Net movement In funds for Ihe year
1,706,055
1,706,055 11,860,932)
Fund balanceg brought forward
at 6 Aprll 2023
12.191,737 12,191.737 14,052,669
Fund balance6 carrled fornvard
at 6 Aprll 2024
13,897,792 13,897,792 12,191,737
All recognised gains and losses are included in the statement of financial activities.
All of the charity's activities are derived from continuing operations.
The Melanie Vthite Foundation Limited 10

Balance sheet as at 5 April 2024
2024
2024
2023
2023
Notes
Fixed assets
Investments
12,328,639
11,786,897
Current assets
Cash al bank
Short tem deposits
881,841
791,612
1,673,4S3
731,824
731,824
Current Ilabllltlos
Creditors.. amounts falling du&
within one year
(104,200)
{326.984)
Net current aS8ets
1,569,253
404,840
Net assets
13,897.792
12,191,737
The funds of the charlty
Capital funds
Expendable endowment fund
Incom8 funds
Unrestricted funds- general fvnd
Total charlty fund•
13,897,792
12,191,737
10
13,897,792
12,191,737
Approved b the directors and signed on their behalf by..
Paul Reynolds
Dlrector
Approved on.. 1611212024
The Melanie White Foundation Limited
Company Registration Number 03750780 (England and Wales)
The Melanie White Foundation Limited 11

Statement of cash flows Year to 5 April 2024
2024
2023
Notes
Cash flo￿ from operating a¢tivltl•s:
Net cash provtded by {used Inl operats'ng activities
43.760
(811,090)
Cash flow8 from Inv•8tlng a¢llvltle8:
Investment income
Purchase of investments
Proceeds from the disposal of inveslments
Net cash provlded by (used in) investing actlville$
170,662
129,508
{4,411,218) {3.587,6621
5,131,729
57,975
891.173 {3,400,179)
Change In ca8h and ca8h equlvalents In the y•ar
934,933 14,211,269)
Cash and ca•h •qulval•n18 al 6 Aprll 2023
731,824
4,780,217
Changes in cash due to exchange rate movements on monetary
assets
6.698
162,876
Cash and Cash oquivalents at 5 A rll 2024
1,673,453
731,824
Notes to the ststoment of cash IIow8 for the year to 5 April 2024.
A Reconclllatlon ol net movement In funds to net cash provldod byl(u8ed In) operatlng actlvltle•
2024
2023
Net movémènt In lunds las per the slatsment of flnanclal actlvltlesl 1,706,055 (1,860,932)
AdJu8lment8 for:
IGains}nosses on movements in mark61 value of investments
Investment income
IGains)nosses on disposal ol investments
Nel gains on foreign exchange translabon of monetary assets
Decrease in creditors
Nel cash provlded by (used Inl oper•tlng actlvltla8
(1,121,697
1,343,894
1170,662) 1129,508)
1140,4561
1,098
{6.696) (162,876)
222.784)
(2.5661
43.760
(811,090)
B Analysls of cash and ca8h equlvalents
2024
2023
Cash at bank and in hand
Short te￿n cash deposits
Totsl cagh and cash equivalènts
881841
791,612
1,673,453
731,824
731,824
The Melanie White Foundation Limited 12

Prlncipal accounting policies 5 April 2024
The principal accounting policies adopted, judgements and key sources of estimation
uncertainty in Ihe preparation of the financial statements are laid out below.
Basis of preparation
The financial statements have been prepared in accordance with 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 United
Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102), the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the
Charities Act 2011. The financial statements have been prepared under the hislorical cost
except for the modification to a fair value basis as specified in the accounting policies belaw.
The charity constitutes a public benefrt entity as defined by FRS 102.
All financial inlormalion 15 presented in British Pounds Sterling {£), the charity's functional
currency, and has been rounded to Ihe nearest pound (£).
Crftical accounting estimates and Judgemenls
The preparation of financial slatements requires the use of certain critical accounting
estimates and judgements. It also requires Ihe directors to exercise judgement in the
process of applying accounting policies.
Estimates and judgements are continually
evaluated and are based on historical experience and other faclors, including an expectation
of future events that are believed lo be reasonable under the circumstances. Although these
eslimates are based on the directors, best knowledge of the amount, event or actlons, actual
results may differ from those estimates.
The directors do not consider that there are any sources of estimalion uncertainty or key
judgments made in the preparalion of Ihe financial statements.
Assessment of going concern
The directors have assessed whether the use of the going concern assumption is
appropriate in preparing these financial statements.
The directors have made this
assessment in respect to a period of one year from the date of approval of these financial
slatements.
The directors consider that the expected investment retums and investment performance of
the charity's investment portfolio will be sufficient to generale financial resources to allow the
charrty to continue its charitable activities for the foreseeable future and meet liabilities as
they fall due.
The Melanie INhite Foundation Limited 13

Principal accounting pollcles 5 April 2024
Income
Investment income comprises dividends and interest on the charitys portfolio of listed
investments. Dividends are recognised once the dividend has been declared and the charity
has received notification that the dividend is due.
Interest on the charity's investment portfolio and funds held on deposit is recognised when
receipt is probable and the amount can be measured reliably using the effective interest
method.
Income from donations is recognised in the period in which the charty becomes entitled to
the donation and where receipt is probable and its amount can be measured reliably.
Expendlture
Expenditure is recognised once there is a legal or constructive obligation to make a payment
to a third party, it is probable that settlement will be required and the amount of the obligation
can be measured reliably. It includes VAT which cannot be recovered.
Expendrture on Charitab￿ activities comprises grants payable and related support and
governance costs.
Grants payable
Grants payable are recognised when approved and when the intended reclpient has either
received the funds or been informed of the decision to make the donation and has satisfied
all related conditions. Grants approved but not paid at the end of the financial year are
accrued for. Grants where the beneficiary ha5 not been informed or has to meet certain
conditions before the grant is released are not accrued for but are noted as financial
commitments in Ihe notes to the financial statements.
Support and governance cosls
Support costs are those functions that assist the work of the charity but do not directly
undertake charitable activities. Support costs include administration, personnel and
governance costs. Governance costs include audrt costs and legal costs relating to the
charity's compliance with regulation and good practice.
Investment management fees incurred in managing the investments of the endowment are
charged against the endowment fund.
Flxed asset Investments
The charity's investment in quoted shares and similar investments are initially measured at
cosl and subsequently at market value. Investment gains and losses, whether realised or
unrealised, are recognised in the statement of financial activilies in the period in which they
arise.
Investments in unlisted equity and similar investments are initially measured at cost and
subsequently at market value unless the market value cannot be measured reliably in which
case they are valued at cost less impairment.
The Melanie White Foundation Limited 14

Principal accounting policies 5 April 2024
Flnancial assets and liabllitles
The Charity only holds basic financial instruments as defined in FRS102. Financial assets
and liabilities and their recognrtion and measurement bases are as follows-
Debt instwments that are payable or receivable within one year, typically trade debtors and
creditors are measured, inilialty and subsequently, at the undiscounted amount of the cash
or other consideration expected to be paid or received.
At the end of each reporting period financial assets are assessed for objective evKlence of
impairment. If such evidence is identified, an impairment loss is recognised in the statement
of financial activities. For financial assets measured at cost less impairment, the impairment
loss is measured as the difference between an asset's carryin9 amounl and a best estimale
of the recoverable amount.
A financial asset is derecognised only when the contractual rights to the cash fiows from the
financial asset expire or are settled in cash, or when subslantially all the risk and rewards of
ownership of the financial asset have been transferred to another party.
A financial liability is derecognised when the contract that gives rise to it is settled, sold
cancelled or expired.
Debtors
other debtors are initially recognised at their settlement amount and subsequently at
amortised cost or their recoverable amount. Impaimient provisions are recognised when
there is objective evidence. such as signif￿ant financial difficulties on the part of the
counterparty or default or a significant delay in payment, that the charity will be unable to
collect all of the amounts due.
Prepayments are valued at the amount prepaid.
Cash at bank and In hand
Cash at bank and in hand represents such accounls and instruments Ihat are available on
demand or have a maturily of less than three months from the date of acquisition.
Creditors and provisions
Creditors and provisions a￿ recognised when there is an obligalion at the balance sheet
date as a result of a past event, it is probable that a transfer of economic benefit will be
required in settlement, and the amount of the settlement can be measured or estimated
reliabty.
Creditors and provisions are initially recognised at fair value, being the amount the charity
anticipates it will pay to settle the debt, and subsequentty at amortised cost.
Non-current creditors are measured at their present value at the balance sheet date where
the time value of money is material. The unwinding of the discount is charged against
income as an interest expense.
The Melanie White Foundation Limited 15

Principal accounting policies 5 April 2024
Fund accounting
The unrestricted funds represent funds available for the general charrtable purposes of the
charity at the discretion of the directors.
The expendable endowment fund represents monies retained as capital which is available
for the general charitable purposes of the charity al the discretion of the directors.
The Melanie White Foundation Limited 16

Notes to the financial statements 5 April 2024
I Investment income
2024
2023
Investments listed on a recognised st￿k exchange
Dividends - UK unit trusts
Investrnent rebates
158.754
11,908
170,662
118.350
11,158
129,508
2 Charltable expenditure
2024
2023
Grnnl8 payabl•:
Alfred Dunhill Foundation
Bahamas Triathlon Association
Children'5 Cancer and Leukaemia Group
Compassion UK Elhopla Challenge
Forward Thinking
Jewish Blind & Physlcally Handicapped Society
Movember Cup
National Portrait Gallery
OrtUK
Saints Foundation
The Art)ib Education Trust
Tiger Woods Charity (2 grants)
Tommy's
Waves for inclusion
Total grant8 payable
Support and governance costs (note 3)
Total CharStsble expendlture for the year
50,000
7,645
3,000
1,000
10,000
1,000
4,101
500,607
1,600
20,000
100,000
162.225
100
33.129
777,707
30.817
808,524
116,600
17,499
134,099
A reconciliation of grants payable and grant commitments as shown above and in note 8 18
as follows..
2024
2023
Grant commitments al 6 Aprfl 2023
Grants commitments made during the year
Total grants payable
Grants written back during th8 year
Grants paid during the year
Comrnltmenls at S Aprll 2024
320,844
116,600
437,444
(316,6451
(20.7991 1782.863)
100,000
320.844
326,000
777,707
1.103,707
2024
2023
The above grants commitments fall due as followE'.
thin one year (note 81
100,000
100,000
320.844
320,844
The Melanie White Foundation Limited 17

Notes to the financ5al statements S April 2024
3 Support and govemance costs
2024
2023
Investment management fees
Governance costs
12,790
4,709
17.499
16.153
14,664
30,817
Analysis ofgovemance costs..
2024
2023
Audilo¢s remuneration
Audit se￿iCe5
Independent examiner5 fee
Consultancy Fees
Bank charges
4,300
2,590
11.499
575
14.664
409
4,709
4 Dlrectors. remuneratlon and key management personnel
No remuneralion was paid to any director in respect of their services during the year (2023 -
none) and no director was reimbursed for expenditure incurred in the perfofmance of their
duties for the charity during the year {2023- none).
The directors of the charity are considered to be the key management personnel.
5 Taxatlon
The Melanie White Foundation Limited Is a registered charity and therefore is not liable to
income tax or coq)oration tax on income derived from its charitable activities, as it falls within
the various exemptions available to registered charities.
6 Investments
2024
Total
2023
Totsl
Investments
Market value at start of year
Addrtions al r￿st
Disposals al carrying value
(ProG8eds £5.131,729.' Reallsed gain £140,456)
Unrealised gainsl{lossesl in year
ma￿et value al end of year
11,786,897
4,411,218
9,602,002
3,587,662
(4,991,273)
1,121,697
12,328,539
(59,073)
{1,343,6941
11,786.897
Historical cost
9.898,745
10,642,845
The investments comprise.. listed investments traded on a recognised stock exchange which
consist of UK Unit and Investment Trusts and Altemative Investments which are not traded
on an active open market.
The Melanie White Foundation Limited 18

Notes to the financial statements 5 April 2024
6 Investments (continued)
The amounts recognised in the statement of financial activities relaling to changes in the
investments are..
2024
2023
Reolised gainslllosses) an disposals
Unrealised gainslllosses) on movements in Ma￿et value
140,456
{1,098)
1,121,697 {1.343.694)
1,262,153 (1,344,792)
The following individual holdings had a market value in excess of 50A of the entire
investment portlolio at the year end..
2024
2023
Jupiter Unit Trust Management Merlin Balanc4 Portfolio
LeAD Sports Ltd
MedProperties Fund IV LP
Ishares MSCI AC
Pimco GIS Income
GR. Gold (Bar 12.skg 995 or best)
Holdun Falcon 5 Investment
TCM Oigilal Income Fund
Off the Chain
7,036,949
1,659,021
898,643
699,780
686,004
5,712.495
693.925
143,816
1.899.S77
1,128,450
794,308
211,688
510,932
7 Cash at bank
2024
2023
C Hoare & Co
627,172
849,667
149,220
47.394
1,673,453
539,544
Citibank
Thesis Asset Man8gemenl Ltd
Pictet
185.890
6,390
731.824
8 Creditors: amounts falllng due wllhln one year
2024
2023
Accruals
Grant Commiknents {note 2)
4,200
100,000
104,200
6.140
320,844
326.984
9 Related party transactions
Mrs M White and Mr P Reynolds are Directors of Thamesis Limited. The charity holds 2
ordinary 5 pence shares in Thamesis Limiled which represents 1.25% of its issued share
capital. The charty holds the shares at their nominal value.
The Melanie White Foundation Limited 19

Notes to the financial statements 5 April 2024
10 Analysis of net assets between funds
Expendable Unrestricted
endowrnenl
fvnds
Totsl
2024
Fund balances at 5 April 2024 are ￿PreSented by..
Investments
Cash al bank and short tenn deposits
Credilorg.. amounls falling due within one year
Total net assets
12.328,539
1.569,253
12,328,539
104,200
1,673.453
(104,200) 1104,200>
13,897,792
13,897.792
The Melanie While Foundation Limited 20