2021-08-31-accounts

DEPENDEKf ALrirroR'S REPORT TO THE TRU8TEE8 OF THE 1i4CLAREN FOUNDATION FOR ThE YEAR ENDED 31 AUGUST 2021 ICOKnNueD> Auditing standards limit the ￿uIred audit prOC￿ureS lo ¥JeDtify n0n-comF4ia￿WiIh these laws arKI ￿gUlationS lo enquiry of the Tnjstees other m8nagemenl and iispedion of reguktory and legal cOfrespondet￿e. rf any. We idenlified the greatest r￿k of material irvpwAon the (na￿111 statements fr(xn irregularities. I￿uding fra￿1. to be within the ts'n￿g of reCOgnth￿ of and lhe overrth of ￿trOl$ ty management. Our audit proCedU￿S to respond to these risks in(vJed enwiries of manageffnl the F&GP Committee ab)ul their own idenlfftatKn and assessment of the nsks of Yregularities. sarn￿e testing on the posting of i￿rnals. designing a￿JIt procedures over income. revw accounb'ng estNrth for blases. reviewing regulatory correspondence including that th the Charity Commission arKI reading minuies of meelings ol those Gharged wbth go¥ema￿e. Owing to the ￿herent limiLilbJns of an audrt there i% an Unavoidab￿ fisk that we may not have detected some material misslatements in the financbal state￿nts, wen th¢)ugh we have propety planned and performed our audit in a￿OrdanCe with auditing standards. For example. Ihe further removed ￿￿-cOm￿lance with laws and regulalions {irre9ularities} is from the events and transactions refle(ed in the fina￿la1 stalements, the less likety the inherenlly limited wocedures required by auditing stsndards would Njentify it. In athlilion. as wlh any audit there remained a hhJh9r risk 0fnon-d8leth.￿ of irregulariiw. as these invofve Djllusion. forgery, intentional omissions. misrepresentalions. or the ovemde of intemal controLs. are not respon$b￿ for prevenb.ng non- compliance and cannot be expected b detect non-complrance ith all Ws and reguWion& Us• of our report This ￿PrAI 1$ made solety to the charitys trustees. as a bth. in ac¢xirdartewithPart4 ofthe Chilies IAcccAmts and Reportsl Regulations 2(X)8. Ouf audrt has been undertaken so that we M￿ht slate to the charity's Irustees those matters we are required to slate to them in an audrtorfs rewt and for olher purpose. To the Jllesl extenl ￿lmItted ty law. we do not accpt or assume responsibilly to anyone other than the charity aThJ Ihg charity'5 tru5tses a5 a t￿. for our 3￿Irt w(%K fDrthts rewrt or forthe opinins we h￿e formed. C(M L),& . LLP Crow• U.K. LLP statutory Auditor 4th Floor St James HI￿$e St Jame5. Squ Chellenham GL50 3PR Date.. 7 January 2022 cro￿ U.K. LLPisdi•bl¢ fi)r wwthx4s•Jthr•fthEdiyltyvrtof¢b•bil* 1212 ofihe Cwpthics Ath2Cth.

		Unrestricted	Restricted	Endowed	TotalFund	TotalFund
		Funds	Funds	Funds	2021	2020
	Note
INCOMEANDENDOWMENTS
FROM:
VoluntarySources:
Donations				90,911	90,911	139,480
Investments:
Investmentincome			76.517		76.519	72.272
TOTALINCOME			76,517	90,911	167,430	211,752
EXPENDITUREON:
Charitableexpenditure		Ml2)	169.907)	M6.608)	(86.627)	(101.066)
TOTALEXPENDITURE		(112)	(69.907)	(16.608)	(86.627)	(101.066)
NET(EXPENDITURE)/INCOME FORTHEYEAR		(110)	6,610	74,303	80,803	110,686
Netgains/(losses)oninvestments				451.230	451.230	(261.288)
Net(expendlture)/lncomefor
theyear		(110)	6,610	525,533	532,033	(150,602)
BALANCESBROUGHT
FORWARDat1 September2020		13,713	48,816	2,410,034	2,472,563	2,623,165
BALANCESCARRIED
FORWARDat31August2021		13.603	55.426		3.004.596	2.472.563

THE MACLAREN FOUNDATION

BALANCE SHEET AS AT 31 AUGUST 2021

FIXED ASSETS Fixed asset investments CURRENT ASSETS Debtors Cash at bank and on deposit CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR NET CURRENT ASSETS NET ASSETS REPRESENTED BY Expendable endowed fund Restricted fund Unrestricted fund TOTAL FUNDS	Note 2021 £ 5 6 21,188 222,257 243,445 7A 78 7C	£ 2,761,151 243, 5 3,004,596 2,935,567 55,426 13,603 3 004 596 2020 £ 4,558 552,774 557,332	1,915,231 557,332 2,472 563 2,410,034 48,816 13 713 2 472 563

The notes on pages 9 to 15 form part of these Financial Statements.

These Financial Statements have been approved and authorised for issue by the Trustees on 15 December 2021.

Signed on behalf of the Trustees

W Massey (Chairman)

8

4.	CHARITABLEEXPENDITURE
		2021	2020
		£	£
	Grantsandawards	69,893	84,922
	Investmentmanagementfees	16,593	16,008
	Bankcharges	141	136
	Total	86.627	101.066
5.	FIXEDASSETINVESTMENTS
		2021	2020
		£	£
	At1 September2020	1,915,231	2,176,519
	Purchases	1,736,156
	Disposalproceeds	(1,341,466)
	Realisedgains/ (losses)	87,904
	Unrealisedgains/ (losses)	363.326	(261.288)
	Marketvalueat31August2021	2.761.151	1.915.231
	Historicalcostat31August2021	2,206,905	1,727,059
6.	DEBTORS
		2021	2020
		£	£
	Amountsduefromconnectedparties	5,094	2,175
	PrepaymentsandaccruedIncome	16.094	2.383
		21.188	4.558
7.	FUNDSOFTHECHARITY
7A.	ENDOWEDFUNDS:MOVEMENTSINTHEYEAR

	Balanceat	Income	Expenditure	Investment	Balanceat
	1September			Gains	31August
	2020				2021
	£	£	£	£	£
Endowmentfunds
MaclarenAwards	2.410.034	90.911	f16.608\	451.230

	Balanceat			Balanceat
	1September	Income	Expenditure	31August
	2020			2021
	£	£	£	£
Restrictedfunds
Endowedincome- Awards	48.816	76.517	f69.9G7^	55.426

	Balanceat		Balanceat
	1September Income	Expenditure	31August
	2020		2021
	£ £	£	£
Unrestrictedfunds
Generalreserve	13.713	Mm	13.603
eneralReserve
hesefundsareheldforthegeneralpurposesoftheCharity.
ETASSETSOFTHEFUNDSOFTHECHARITY
heCharity'snetassetsbelongtothevariousfundsasfollows:
	Fixed	NetCurrent		Fund
	Assets	Assets		Balances
	£	£		£
Endowmentfunds	2,761,151	174,416		2,935,567
Restrictedfunds		55,426		55,426
Unrestrictedfunds		13.603		13.603
	2.761.151	243.445		3.004.596

		Unrestricted	Restricted	Endowed	TotalFund
		Funds	Funds	Funds	2020
	Note
INCOMEANDENDOWMENTS
FROM;
VoluntarySources:
Donations				139,480	139,480
Investments:
Investmentincome		^	72.252		72.272
TOTALINCOME		20	72,252	139,480	211,752
EXPENDITUREON:
Charitableexpenditure		f102)	(84.9361	(16.0281	(101.066)
TOTALEXPENDITURE		(102)	(84.936)	(16.028)	(101.066)
NETINCOMEFORTHEYEAR
		(82)	(12,684)	123,452	110,686
NetgainsonInvestments				(261.288)	(261.288)
Netincomefortheyear		(82)	(12,684)	(137,836)	(150,602)
BALANCESBROUGHT
FORWARDat1 September2019		13,795	61,500	2,547,870	2,623,165
BALANCESCARRIED
FORWARDat31August2020.		13.713	48.816	2.410.034	2A12M1

	Balanceat	Income	Amounts	Investment	Balanceat
	1September		Expended	Gains	31August
	2019				2020
	£	£			£
Endowmentfunds
MaclarenAwards	2.547.870	139.480	116.028^
MaclarenAwards
Thefundsareheldasexpendable		endowment,	theincomereceivedonthefundswillbeprov
bursariesandscholarshipsatSummerFieldsforableboyswhoseparentswouldnototherwisebe
affordthefees.
.RESTRICTEDFUNDS:MOVEMENTSINTHEYEARENDED31AUGUST2020
	Balanceat			Amounts	Balanceat
	1September		Income	Expended	31August
		2019			2020
		£	£	£	£
Restrictedfunds
Endowedincome- Awards		61.500	72,252	f84.936^	48.816
EndowmentIncome
Thisfundrepresentsmoniesearned		ontheendowedfundsoftheFoundationwhichareavailable
bursariesandscholarshipsasdeterminedbytheTrustees.
.UNRESTRICTEDFUNDS:MOVEMENTSINTHEYEAR31AUGUST2020
	Balanceat			Amounts	Balanceat
	1September		Income	Expended	31August
	I	2019			2020
		£	£		£
Unrestrictedfunds
Generalreserve		13.795	2Q	f102^	13.713
GeneralReserve

	Fixed	NetCurrent	Fund
	Assets	Assets	Balances
	£	£	£
Endowmentfunds	1,915,231	494,803	2,410,034
Restrictedfunds	-	48,816	48,816
Unrestrictedfunds	:	13.713	13.713
	1.935.231	557,332	2,472,563