Market Harborough BUILDING SOCIETY CkAfi¥Ablo/ FoKrtaA4iort ANNUAL REPORT & ACCOUNTS FOR THE PERIOD ENDED 30 JUNE 2024 Market Horborough Buildlnysoctety Chorltoble Foundation 14 comptsnylimitedby guortsnteel Trustees'report andfinon¢i41stritements Reglsterednumber3885895 Contents Trust Information.,,,,...,....,,...,,..,.,...,,..,..,,...,,,...,,......,...,,.....,.............,......................,......... Trustees, report,...,.,,..,,,..,.,,..,,..,,.,...,....,,,......,...,,,..,....,,,,..,.,...,.,...,,..,,... .,.......... Independent Examiner's Report to the Trustees of Market Harborough Building Society Charitable Foundation,..,., Statement of flnancial activities................................................................. Balance Sheet.,.,,....,,..... Notes to the accounts..,... MtsrketHorborough Buildln9 Soclttycharltable Foundotlon ¢Gcompony limitedbyguumnttrel Trustees, report undlinontholstotements Reg15tEred fjumber3885898 Trust Information Company number 3885898 Registered in England & Wales Charity number 1078355 Trustees Mrs A Asbury Mr B D Blyth Mr H R Grant (resigned 0411212023) Mrs S O'sullivan (resigned 0810212024) Secretary to the Tru*ees Mrs E Souter (appointed 1417123) Reg Istered offlce elland House 15-17 The Square Narket Harborough Lelcestershlre LE16 7PD Independent Examiner Adrlan A. Bentley Edward Thomas Pelrson & Sons Chartered Accountants 21 The Point Narket Harborough Leicestershire LE16 7NU Bankers Market Harborough Buildlng Soclety Welland House 15-17 The Square Market Harborough Leicestershire LE16 7PD MurketMGrborough 8uildingSociety ch￿rit&1b1eF0und$t1trn lo ctrmpony limitÈdby9uGronteel Trustee5'report ondfinoncict15totÈrntnts Registerednumber35&5898 Trustees, report The trustees, who act as directors for the purposes of company law, present thelr report and flnancial statements for the period ended 30 June 2024. Structure, Governan¢e and Management The charlty was Incorporated on 25 November 1999 as a company limited by guarantee. It is governed by a Memorandum and Artlcles of Assoclatlon, Two of the trustees may be appointed by Market Harborough Building Society (the Society) and, except in unu5u41 circumstances, may only be removed by the Society. The power for the appointment and ￿MOVal of the remainlng trustees I les wlth the Board of Trustees, although the Soclety retalns the rlght of veto over a prospective appointment. New trustees afft briefed on their legal obligations under charity and company law, the content of the Memorandum and Artlcles of Assoclation, the commlttee and decislon maklng processes and the recent finantial performance of the charlty. All trustees are encouraged to attend approprlate external trainlng events where these wlll facllltate the undertaking of their role, Objectives and Activities The objectives of the charity are to hold the capital and income on trust, to apply the income and or capital for charitable purposes, and to make donation5 to charitable i nstitution5 and causes, in such a ma nner that the trustees in their absolute discretion see fit, The Foundation will consider applications for grants from voluntary and charit8 ble organisations. It will not normally consider a pplications from individuals or from any profit-ma ki ng organisation, or from organisations wh05e prime purpose is the promotion of any form of rel igion. In maki ng donations the Foundation will seek to benefit local people and its primary focus wil I be to help charities that improve the qual ity of life of persons In the Soclety's operatlng area. The trustees consider that the core area to be served by the Foundation Is wlthin Lelcestershire, Northamptonshire and Rutl4nd, Applications from organisations based in those countie5 (or from natlonal organlsations wlth an active local presence, and where assurance can be given that grants will be used wlthln the core area ) will be preferred to those from other areas. Grants wlll normally be made for capltal expenditure rather than for revenue costs, The Foundatlon wlll also consider application5 for investment In people for organlsatlonal development or developing skills in the communlty. The Foundatlon wlll not normally consider grants for projects to cover expendlture whlch has already been incurred or commltted. The trustees have had due regard to the guidance published by the Charlty Commission on public benefit. They consider that they comply with the publlc beneFIt requirements of the Cha rities Act 2011 by providing grants for voluntary and charltable organi5ations. continued Murket Horbtrrough 8uilding5ociety Choritoble Fotlndotlon lu componylimltEdbyguuranteel Tru5teES'reportondfinLTncIGI 5totEments Re9islerednumber3885898 Trustees, report continued Achlevements, Performance and Flnanclal Revlew The Board of the Society have approved a proposal to outsource the adm inlstration of thelr smaller charitable donations to Leicestershlre, Lelcester and Rutland Community Foundatlon (reglstered charlty no. 1135322). The charlty will remain in existence to ad minister la rger donations. The charity received income of £40,000 as donations from Market Harborough Bulldlng Society, £nil as other donations and interegt of £441. It made donations of £59, 598 to 22 charitable causes during the year in line wlth the charlty objectives, leaving a deficit for the year of £19, 157 (2022.. deficit £2,014) as part of the brought forward reserves have now been distributed. £12,483 is available for future expenditure as at 30 June 2024. All administration expenses of the charity were met by Market Harborough Bulldlng Society, None of the trustees received any remuneratlon in the period. Note 8 provldes a ful I list of gra nts awarded durlng the year. The Trust does not seek to accumulate reserves but to distribute all charitable donations to good causes. Every effort was made by the trustees to seek suitable grant recipients to ensure the reserves are distributed. statement of rlsks The trustees have considered the rlsks to whlch the charity is exposed and are satlstled that, given its nature and slze, these are not material. Related parties The Trust was established by Market Harborough Building Society in 1999, but is independent from It and has no connection to any other bodies. Slgned on behalf of the trustees Anna Asbury Trustee 26 February 2025 Murketr Horborotsgh Bulldlng Soclety Choritable ¥ourJ6otlDII lo Cormp￿nY Ilrnlted byguaronteel Truttets, report unclfinanGiqlstotements Reglstertd nun7ber3885898 Independent Examiner's Report to the Trustees of Market Harborough Building Society Charitable Foundation I report to the charity trustees on my examination of the accounts of the com pany for the period ended 30 June 2024 whl¢h are set out on pages 7 to IQ. Responsibilities and basis of report As thÈ charlty trustees of the company (and also its dlrectors for the purposes of company law) you are responsible for the preparation of the accounts i n accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied Myself that the accounts of the Company arè not requirÈd to be audlted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your com pany's accounts as carried out under section 145 of the Charities Act 20 11 ('the 20 1 l Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under sectlon 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examlnatlon. I conflrm that no matters have come to my attention in connection with the examlnation giving me cause to believe that i n any material respect: l. accounting records were not kept in respect of the company as requlred by section 386 of the 2006 Act; or 2. the accounts do not accord wlth those records. or 3. the accounts do not comply wlth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts glve a 'true and falr vlew, whlch Is not a matter considered as part of an independent examlnatlon,. or 4. the accounts have not been prepared In accordance with the methods and principles of the Statement off Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance wlth the Flnancial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examlnatlon to which attention should rawn In this report order to enable a proper understandlng of the accounts to be reached. Adrian A. Bentley Edward Thoma son&S Chartered ountan 21 The Point Market Harborough Leicestershire LE16 7N U 26 February 2025 orket Ilurborr)ugh 6ulldlno5odety Churitoble Foundotion fo cc>mpttmyllmltedbyguornntevl Trustees'report ￿ndh￿tIn£la1StttteMent5 Reqisterednumber3885898 statement of financial activities (incorporatlng an Income & expendlture account) for the perlod ended 30 June 2024 Note Perlod ended 30 June 2024 Year ended 31 December Z022 Incoming resources Investment income 441 39 Donation5 receiv3 ble 40,000 45,000 Total incoming re$ource$ 40,441 45,039 Resources expended Di rect charltable expendlture (59,5981 (47,053) Net movement in funds (19,157) (2,014) Fund balances brought forward 31,640 33,654 Fund balances carried forward 12,483 31,640 There a re no recog nised gai ns or losses other than those ft)r the periods stated above, The deficits or gains for the respective periods are the same on an historical cost basi5. The results are wholly derlved from the contlnuing operations of the company. All fund5 are unrestrlcted. Murket Htsrborough Sulldlngsocletychoritoblt Foundatlon Its compony Ilmlted byguorDntÉeJ rru5tree5'rgport ondflt)anclalstL¥ternents Registergd number3855898 Balance Sheet Asat 30 June 2024 Asat 31 December 2022 Note Current assets Debtors Cash at bank and In hand 12,483 40,905 Net assets 12,483 40,905 Current Ilabllltles Creditors 9,265 Total assets less current Iiabllltles 12,483 31,640 Accumulated funds - unrestrlcted 12,483 31,640 The trustees/dlrectors are satisfied that the charitable company was entitled to exemptlon frorr audit under Section 477 of the Companies Act 2006 and that members have not required an audlt in accordance with Section 476. The trustees/director5 acknowledge thelr responslbilities for.. (a) ensuring that the charltable company keeps accounting records which comply wlth Sections 386 and 387 of the Companies Act 2006 and Cb) preparing financial statements which give a true and fair view Df the state of affairs of the charltable com pany as at the end of each f i nancial year and of its su rpl us Dr deficit for each fi nancial year In accordance wlth Sections 394 and 3g5 and which otherwise comply with the requirements of the Companies Act 2006 relating to fi nancial statements, so far as applicable to the charitable compa ny. The financial statements have been prepared in attordance wlth the special provlslons of Part 15 Df the Companies Act 2006 relating to small companies. The financial statements were approved by the trustees on 26 February 2025 and signed on their behalf by.. Ad3 Anna Asbury Trustee Morket Htrrborough sulldlng SoclEty CfvllritublE Foundotion Iqcompany Ilrnlted bygua￿nteej Trustee5' reportrondfinoncialstotements Reg15tered number3885898 Notes to the accounts (formlng part or the flnancial statements) l. Accountlng pollcles The fol lowing accounti ng pollcles have been applled conslstently in deallng wlth Items which are considered material In relatlon to the flnanclal statements. Basis of preparatlon The financlal statements have been prepared in accordance with Accounting and Reporting by Charitles., statement of Recommended Practlce appllcable to charities preparing thei r accounts in acwrdance with the Fina ncial Reportlng Standa rd applicable In the UK and Republic of Ireland {SORP (FRS 102)) Issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Practice as it applles from l January 2015. The charlty meets the deflnltlon of a public benefit entity under FRS102. Assets and lia bi lities are recognised at hlstorlcal cost or transaction value unless otherwlse stated In the relevant accounting policy note. As mentloned In the Trustees, Report, the Board of the Society have approved a proposal to outsource the adminlstratlon or thelr smaller charitable donations to Leicestershi re, Leicester and Rutland Communlty Foundation (registered charity no. 1135322). The accounts Cover a period of 18 months up to when the proposal to outsource was approved. Income recognltlon and debtors Donations and gifts are included in full in the Statement of Fl nanclal Activities on an accruals basis. Debtors are those donatlons approved, but not received at the balance sheet date. Fund accounting Al I funds art unrestricted and are available to spend on charltable purposes as spoclfled In the Memorandum and Articles of Assoclatlon. Resources expended and creditors All resou rces expended are charltable donatlons and are charyed in the year in which they are authorised bv the trustees. Creditors a￿ those donatlons authorised, but not paid at the balance sheet date. Cash at bank and in hand All monies held are wlthin an instant access building society account and the balance shown is as per the passbook. 2. Trustee Remuneratlon No trustees received any remuneratlon or relmbursement of expenses for their services as trustees in the year or preceding year. 3. Related Partles The charlty recelves dlscretionary donations on a periodic basls from Market Harborough Building Soclety. The total of the amounts receivable i n respect of the period ended 30 J une 2024 are disclosed i n Note 5. The Society has also provided administrative and secretarial support to the charity for which no charge was made. The cost of this support Is considered to be immaterial, Mvrket Hurborough Btsildlng Sodety Chorltable Foundtstlon lucompany l1mitedbyo￿orttoteÉj Tru5tee5' reportundfinonciolstatemtrnts REgistEfEd number3885858 Period ended 30 June 2024 Year ended 31 December 2022 4. Investment Income Interest earned on current account 441 39 5. Donations Receivable Donations from Market Harborough Bui Iding Society 40,000 45,000 6. Dlrect Charitable Expenditure Charltable donations authorlsed durlng the period 59,598 47,053 7. Creditors Outstandlng creditor balances as at 30 June 2024 £nil (31 December 2022.. £9,265). 8. Statement of Donations Wize Up14 schools @ £8251 for 2022123 stepplng Stones Pre-school Home- Start South Leicestershire Maplefields Academy The Well, Kibworth Harborough Town Community Trust Dee Tee Soot Karate Academv Shopmobility Market Harborough Clipston Village Hall Glooston Village Hall Leicestershi re Girl Guides Assoclation Topstones Alc M kt Harb Un it16401 of the Sea Cadets Corps ITS Ferniel Loddington + Mawsley Cricket Clu b Kibworth PCC Medbourne Village Hall Trust Friends of the Welford Arm IFOTWAI Hallaton Museum Great Bowden Residents Association Market Harborough In Bloom Volunteers 3,300 1,320 203 4,288 2,244 5,000 1,451 2,338 5,000 4,226 5,000 5,000 4,442 2,500 5,000 852 1,834 5,000 600 Total donations S9,S98 io