## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## 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 manageff*nl the F&GP Committee ab)ul their own idenlfftatK*n 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 Ch*ilies 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 acc*pt 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 wwthx*4s•Jthr•fthEd*iyltyvrtof*¢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`|