Registered Charity.. 1112215
THE MACLAREN FOUNDATION
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
INDEX
Pagef-2
Trustees, Annual Rèport
Tru81ees' Responsibilities
Independent Audllorfs Raport
Slalement of Financial Activities
Balanca Shaèl
Notes lo the Financid Stalements
9-16

THE MACLAREN FOUNDATION
TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2023
Governlng Document
Th8 Foundats'on is govemed by a deed dated 8 July 2005 and Is a roglstered charlty. numbèr1112215.
Trustees
The Trustees for the perfod und8r r8view lo th8 date of signing the financial slalemenls were..
W G S MasseyQC, MA
Ch8lrffl8n
J H Ghatfeild-Roberts Irelired 13 Novernb6r 2023)
S R Peake BSC, Ir61118d 12 July 20231
J Sfaklanakis PhD'
M W D Lltlle lappoln18d 5 October 20231
Govemor of SUMM￿ Fields School Trust Llmiled
Prlnclpal addr8S5
Mayfiekl Road
Oxford
OX2 7EN
Objectlve8 of the Foundatlon
The Maclaren Foundation Ith8'Foundation I was established as a charitable trust in November 2005 to provlde
for the advancement of educadon at tho school of Surnm8r Fl8ld8 School Trust Limited (the 'School"I so long
as the SchoDI, the oplnion of the Trustees, is conducted independently of the Stale and of any local or publlc
authority.
The purpose of the Foundation is to granl scholarshlps. bursarlès and othèr awards lo th8 School. The
Foundatlon w85 set up to take over The Maclaren Trust and the School Bursary Fund and hold il as a 51ngle
fund (although the Trustees subsequently resolv6d In 2010 to return the Bu15ary Fund to th8 School thereby
providing the HeadmasleT With 9r881er flexibility lo deal with hardship cases as and when arlslngl.
Policles of the Foundation
The Trustees are empowered through the Foundallon d88d lo apply Inc0rn8 (Including interest earned) towards
SGholar5hip5 and bursaries Ifoi boy8 seleded by the Trustees in coniun¢llon with the Headmaster) and to make
othèr awards of Sncome or capltal to the School.
Trustee recrulimènl and tralnlng
The Gov8mors of th8 School have the power lo appoint repla￿ment or additional Trustees of the Foundalbn.
Such appoSntmenls would usually b6 discussed between the Chaiiman of the Governors lor as d8legaled by
hlml and the Chalrrnan of the FoundalSon lor as delegated by html. wlth due (onslderatlon belng given to the
skills ol the exlsllng Trustees and th8 r8quls119 skllls.
Trustees are encouraged to attand confeionces and serninaT8, dolalls ofwhlch are clrculated by the Clerk to the
Foundalbon from Ilme lo Ilme.
Application of funds and financlal revlew
The FoundaUon's prindpal funding S￿rceS are charitable donauons from former puplls of the School landlor
Ihair parenlsl, together with interest earned on Its funds.
In thè y8ar. th8 Found8lon recelved income tolalling £477,803 (2022.. £176.990) and made seholarshlp and
bursary awards lolalllng £91.444 (2022.. £92,567J IM furth8ranc8 of the Foundalion's objedves of supportlng
pupils and advancing education at Ihe School.

THE MACLAREN FOUNDATION
TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2023
Icontlnuedl
Revlew of activities and achievements
In the financial y881 ended 31 August 2023 The Madaren Fwnd8llon recelved £294,693 (2022.- £T4,979J in
donat10n￿g5fts via the School's Annual Fund and £76,866 (2022.. £14, 730) In support ol the Scholarshlp
Programme dlrectly (not via the Annual Fundl- a total of £371.559 (2022.. £89, 7Q9).
PublSc beneflt
The Trustees confirm that they have complied wllh Ihelrduly In Sectlon 17 of the Charill8s Act2011 to hav8 due
egard to publ￿ benefit guldance published by the Charity CommissTon for England and Wales.
Reserves pollcy
To build funds given by donors as exp6nd81￿& endowrnenl forlhe purpose of making annual grants in fulfilment
of the charity's objects. Grants in respect of individual pupils usually cover a number of years (based on certain
Iterlal. It Is. therefore, pos5ibl8 that in any on8 y8arlhere may not be enough endowmenl Income to pay these
grants in full. If this were to occur. the Trustees would revlewthe sllualion and consider all Iheiroplions, including
the possSblllty ol releaslng som6 capital value Irotn the expendable endowment funds. Al 31 August 2023 the
total endowed funds stood al £3.290,132 f2022.' £2,948,608).
Volunteers and other support
The Chairman would sincerely1Ske to thank all those who volunt8rlly glvg so much of Ihglr Ilme 10 8UPPOrt the
work ofthe Foundation.
The Tiust6è5 would al80 like lo thank the Headmaster, Finance Director and Development Dlrector of thè School
for all thelr asslstance.
*o%S
Approv6d by the Board of TIu81ee8 of Th8 Maclaren Foundailon on 14 IL DLci*Srf
and slgned on Ils
behalf by.,
W Massey Ichalmian)

THE MACLAREN FOUNDATION
STATEMENT OF TRUSTEES. RESPONSIBILITIES
ACCOUNTING AND REPORTING RESPONSIBILITIES
The Truslees ars responslble for preparing the Annua1 Trustees, Report and the financlal statements In
accordance with applicable law and Ulliled Kingdom Gener811y AC￿pted A￿OuntIng Practic8 IUnit8d Kingdom
AGCOUntlng Standards).
The law applicable to charlties in England and Wales requlre5 the Trustees lo prepare finan¢lal slalemeri18 for
each financial year which give 8 Irua and fair view of the stale of affairs of the Charity and of the inoomSng
resou￿6 and appllcatlon of resource5 of the ChaTily for that p9ri0d. In preparing Ihe8e financial 81alements,
the TTusle8s are required to..
sele¢l sullable a¢counllng pollcies and then apply them conslstently..
observe the methods and prfndples In the Chaiit185 SORP..
make judgments and esllmates that are reasonable and prudent..
stat8 wh8th8r applicable accounting standards have been followed, subject lo any malerlal departures
disclosed and explained in the financial statements..
pr8paT8 the financial slalemenls on the golng conc8m basls unless11 Is Inapproprlate to presume that th8
charity will continue In buslness.
The Truste88 are re8ponsible lor keeping adequate accounling records that a￿ sufflclont to show and explaln
the Charity's transactions. dls01088 with reasonab18 accui8cy al any lime the linanoial position ol the Charity
and enabl& Ih8m lo ensure that Ihe financial slalemenls comply with the Charitie5 Act 2011, Ihe Chaiities
(Accounts and Reports) Regulallon5 2008 and the provislons ol th8 Charity's ¢on81itulion. They are also
responsib18 for saleuuarding the assets ol the Charlly and hen¢6 for t8￿ng réasonable steps for th8 pr8v8nlion
and deledion of fraud and other irregularitie5.
Approved 8lld aulhori88d for issu8 by the Board ofTruslges of The Macjaren Foundation on 14-(kmLQ
and 8igned on ils behalf by..
W Massey Ichalrmanl

1NDEPENDE￿rAUDrroR's REPORT
TO THE TRUSTEES OF THE MACLAREN FOUNDATION FOR THE YEAR ENDED 31 AUGUST 2023
Oplnlon
W8 h8v8 audll8d thè lin8n¢lal stslèm8nls ol Th8 Maclarèn Foundallon for the yeaT gndèd 31 Augusl 2023
which comprise the Statemènt ol Financial Activities, the Balance Sheet and notes to the financial statements,
Includlng slgnlficant accounting policles. Th8 flnanelal reportbng framework that has been appli8d In thelr
preparation is applicable law and United Kingdom Accounling Standards. Includlng Flnancial Reporting
Standard 102 The FinanThal Reporting Standard applicable In the UK and Republic of IrelaTrd {Uniled Klngdom
Generally Accepted Accounting Practlca).
In our oplnlon the fflnanclal statements..
glve a true and fair view of the stale ol the Charity's affalrs as at 31 August 2023 and of its income a)Kl
expenditure, forlhe year Ih8n endèd.,
have been properly prepared in accordance wlh United Kingdom Generally Accepted Accounting Praclic9',
ond
have b8on preparéd in aeeordanc8 with thè r6qulromènts of th8 Chari118s Act 2011.
Basls for oplnlon
We conducted our 8udil In 8ccord8nC8 wlth Intarn8fjon81 Standards on Audltlng IUK} IISAS IUIQ) and
applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities
for the audit of the financlal sl8letll8nls 5eGtlon ol our rèport. We are Indoptsndenl of the charlty In accordance
vAth the trthkal requiromonts that ar6 relevant to our audit of the financ4al statemenls in the UK, including the
FRC'S Ethical Standard. and we have fulfilled our other ethical re8ponsibililies in ac¢oTdanGe with these
requiiefflents. W8 that tha audit evldence we have obtalned Is suffici&nt and appropriate lo provide a
basis for our opinion.
Conclusions relating to going concem
In auditing the linarncial slalemenls, we hav8 concludèd that tha Irusl8es' use of th8 going ctsncgrn basls of
8¢counllng In the prèparatlon of the Inandal statements Is approprlate.
Based on the work we have performed. we have nDI identified any material uncertainties relating lo events or
conditions that, individually or collectively, may cast slgnilicanl doubl on the ¢harily'8 8bilily to continue 8S 8
going cOn￿M lor a perlod of al least twelve rnonlhs from when the financial stalernenls are aulhorisod for
issue.
Our r8spon51blli118s and the rèsponslbllllles of the trustees wtth respect to golny concem are described in the
relevant sectlons of thls report.
oth&r Infomiatlon
The trust62S Sre wspy)nsible for tha other information contained within the annual report. The other infomialion
campii888 the Infoimalion included in th8 annual raport, oth8r than th8 financS8l slalemenls and our auditorfs
report thereon. Our oplnion on the financial statements does not coverthe other information and, except lo the
exl8nl olherwi8e eXpl￿111y Slated in our r8porL wè do not 8xprès5 any foitn of assurance conoluslon Ihareon.
Our responsibility is lo read the other infortn8llon and. In dolng so. conslder whetherthe olher Infomiatlon is
materially Inconsistent with the finandal slalemenls or our knowledge obtained ITI lh8 audit or 0th8rwisÈ
app8ars lo be materlally mlsslaled. If w8 Idenlffy Such tnaleiial Inwn81stencles or apparent malerlal
mlsstatements, we are requlred to determine whether this gives rise lo a material rnisslalern&nl in Ihe financial
slatem8nls themselves. If. ba88d on the work we have perfomied, we conclude thal there Is a material
mlsstatement of Ihis other information. we are required lo report Ihat fact.
We hav& nothlng to report in thls regard.

INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE MACLAREN FOUNDATION FOR THE YEAR ENDED 31 AUGUST 2023
ICONTINUEDI
Matters on whlch we are roqulrad to report by exGeptlon
We have nothing lo report in respect ol Ihe following rn8ller8 in relation to which the Ch&rftie5 (Accounls and
Reports) Regulations 2008 requir85 US to repori lo you il. in our oplnlon..
the information glven In the financlal st818rnenl8 is inconsistent in any material r85pect wth th8 Iruslees.
report.. or
sufflclenl and proper accounting records have not been kept by Ihe charity., or
the flnanclal slalemenls are nol in agreement wllh the accoullllng records and relums.. or
we have not received all the information arKI 8xpknatsorns we requlre for our audlt.
Responsibllltie¥ of trustee8
As 8xplained more lully In th8 Irust88s' responsibilities statament sèt out on page 3, the trustees are
responslb18 for the preparation ol the financlal Statements and for being satisfied that they give a tru8 and fair
view, and for such int8rnal control as the Iruslees delermlne is necessary lo enable the preparatlon ol flnanclal
slalemonts that are free from material m155taletnenl, whether due to fraud or error.
In preparing the financ181 slalemenls. the trustee5 are responsible for a88esslng the ¢harSly's abllity lo contlnue
85 a going concern, disclosing. as applltrabl@, rnalleis related lo going concern and u5Ing th& going concem
basis ol accountlng unless th8 Iruslees either intend to liquidate th8 charity or lo cease operations. or ha￿ no
realistic allernallve bul to do so.
Audltor, 8 re8ponslbllltle$ for thè audlt of the financial statements
We hav8 b£an appointed as auditor Lsnder section 151 of the Charitie5 Act 2011, and report In 8ccord8nc8 ¥￿th
the Acts and relevant regu18tions made or having effect IhBrtrund8r.
Our Obl8￿[￿e5 ar8 lo obtain reasonable assurance about wh81hgr the financial stalemenis as a whole 8r8 freg
from malerial mlsstatemenl, whether due to fraud or error. and to Issue an auditorfs report that indudes our
oplnion. Reasonable assurance is a high level ol assUl8nce, bul is not a guarantee that an audlt conduc18d in
accordance wilh ISA5 IUW will always detect a materlal m15StateTnent when il exists. Misslalemenls can arise
from fraud or error and are considered material11, indivldually or in the a9gregate. they could rè8sonably bg
expected to influ6nce the &Gonomlc decisions of users taken on the basis of these financial slalements.
Details of the 8xl8nl lo which the audlt was consid8r8d capable of detecting irregularitles, including Iraud and
non-complSancè wSth laws and lggulalions are set oul b610w.
A further d8scription of our respon51bililles for the audit of the financial statèment515 loc8t8d on the Financial
Reporting Council's website at.. www.frc.org.uklaudilors188pon8ibililies. This descrlpllon forms part of our
auditoffs report.
Extentto whlch thp audit W85 C¢¥nsidered capable of dèteGting irregularities, includin9 fraud
Irregularitie5, induding fraud. are instances of n￿-COmPli￿nCe with laws and regulalions. We Idenllfled and
assessed tho rlsks of matarfal tnlsslalemernl of the financial stalements trorn Iir8gularities. whether due to fraud
01 error, and discussed these between our audit188m members. We then designed and p6rf01rn8d audit
procedures responsive to Ih0s8 risks, including obtalning audlt 6vldence Suffi￿￿￿1 and appropriate lo provide
basis for our opinion.
We oblained an underslandlng ol the legal and regulatory fmmeworks wlthln whlch the charity operates,
focusing on Ih03e laws and regulations that hav8 a direct effect on the determination ol mateiial amounts and
disclosures In the flnanclal statern8nls. The laws and regulallons w8 conslder8d In Ihls context were the
Charities Act 2011 together with the Chadtles SORP IFRS 1021. We assessed Ihe required cotnplign¢e wilh
these laws and regulallons as part of our audlt proeedures on the related financlal statement Ilems.
In addition, we considered provlslons of other laws and regulations that do not hav8 a dlrect 8ff8cI on Ihe
linanThal statements but cornplkgnce with which might be fundament81 to the ch8rity'8 ability to operate or to
avold 8 mat8rlal penally. We also consldered th6 opportunili8s and incentives that may exist withln Ihe charity
for fraud. The law5 and regulations w8 considered In thls ¢ont8Xt foT lh8 UK operations wa8 laxalion18gislation.

:: 

## **INDEPENDENT AUDITOR'S REPORT** 

## **TO THE TRUSTEES OF THE MACLAREN FOUNDATION FOR THE YEAR ENDED 31 AUGUST 2023 (CONTINUED)** 

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. 

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

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. 

## **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. 


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

Statutory Auditor 41h Floor St James House St James' Square Cheltenham GL50 3PR 

Date: 19 January 2024 

> Crowe U .K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 

6 



THE MAGLAREN FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2023
restrlcted
Funds
Restrlctsd Endowed Total Fund
Funds
Funds
2023
Total Fund
2022
Note
INCOME AND ENDOWMENTS
FROM:
Voluntary Sources-
Donations
371,559
371,559
89,709
Investments:
Investmènt Income
11
106 233
106 244
TOTAL INCOME
11
108.233
371,559
477,803
176,990
EXPENDITURE ON:
Ch8rilable expenditure
74
107 $00
109 460
TOTAL EXPENDITURE
74
107 500
109460
NET IEXPENDITURE)I INCOME
FOR THE YEAR
1631
14,776
355.S90
370.303
67,530
Nel losses on Investmènts
114,0761
114,0761
(73.273)
Transfers between funds
10
10
Net movement In funds
1731
14,776
341.524
356.227
(5,743)
BALANCES BROUGHT
FORWARD at I Sapt8mb8r2022
127
60,1IB 2,948,608
2,998.8S3
3.004.596
BALANCE5 CARRIED
FORWARD at31 August 2023
9988
The notes on pages 9 tts 16 foTffl part of thes8 Financial Statements.

THE MACLAREN FOUNDATION
BALANCE SHEET AS AT 31 AUGUST 2023
FIXED ASSETS
Fixed asset investments
3,190.845
2,706,773
CURRENT ASSETS
Debtors
Cash al bank and on deposit
69,329
1,127
84,235
309.855
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR
775
NET CURRENT ASSETS
16
92 OBO
NET ASSETS
REPRESENTED BY
Expendable endowed fund
Restrloted fund
Unreslricled fund
3.290,132
64,894
54
2,948,608
50,118
127
8B
TOTAL FUNDS
The notes on pages 910 16 form part of Ihestr Flnanci81 Ststemgnls.
These Fln8ncl81 Stalernenls havè been approvad and authorlsed for Issuo by the Trustees on 2023
Slgned on beh8W of th8 TTUSlee5
W Mass9y Ichalrmanl

THE MACLAREN FOUNDATION
NOTES ro THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
ACGOUNTING POLICIES
The following accounting policies have been used consistently In dealng wllh Items whlch are
considered materlal In relatlon to the Fln8ncial Statements..
al CHARITY INFORMATION
The MaoEar6n Fo￿nd￿li0n is a reglslared charity with the Charities Cornmission England amd Wales
(charity number 11122151. The address of Ihe r8gislered offi￿ Is Summèr F18kls School. Maffjeld
Road. Oxford OX2 7EN.
bl BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financlal statements have b88n prepared under thè hlslorical cost convention.
Th6 flnancial slalements hava been prepared In a¢ctsrdance with Accountlng and Reporting by
Charit￿s.. Slalement of Recomrnended Practice applicable to charities preparing their accounts In
accordance with the Financial Reportbng Standard appllcable In the UK and Republlc of Ireland IFRS
1021- (Charitie5 SORP IFRS 10211 and the Financial Reportlng Standard applicable In the UK and
Republic ol Ireland IFRS 1021.
The Madar8n Foundation meals th8 d8finllion of a publlc benefit entity under FRS 102.
Cash Flow Statement
A5 Ihe results of the eharily 8r8 incknded within the financaal statement5 ofthe parent, Summer Flelds
School Tiust Lirniled. the charity has taken advantagè of th8 FRS 102 exemption frotn preparing ils
own cash flow 5tatetnent,
Tha functional currerscy of the ¢harily is con51dered to be GBP because that the currency of thè
primary economic environment In whl¢h the school op8r8tes.
cl GOING CONCERN
The Tru5te85 have undertaken det8lled planning and forecasting and continue to c105ely monitor
the economic sSluation In the aflemalh of the pandemic and in the Ilght of inflationary pressurès
arising from the sitLJalion in Ukralne. Despile the curr&nt clrcumslances the Trustees belleve thal
th9 Charity's financlal resources and eonllngency planning is sufficient to 8nsure the abillly of the
Charity to continue as a going conc8rn for the foreseeable futur8, belng at least Iwelve month8
from the date of approv81 of these finandal stslemenls and Iherelore hav& prepared ihe flnanclal
slalements on a golng concern b8SIS.
d) INCOME
Donations are accounted for In th8 Stalernent of Fln8ndal Actlvilles on a recelvabl8 bas18.
Incom6 frorn inveslments Is Includ8d in Ihe Statemènt of FSnan¢lal Acllv5tles only If ￿e1ved. or rf
dÈclared and re￿IVable,
g} EXPENDITURE
Expenditure is Includtsd the Statement of Flnan¢lal Activities on an 8ceruals basis. The prO￿$10n
of bur5aiies and s¢holarshlps to puplls ol Summer Flalds School Is Induded under Charitable
Exp8ndilure.

THE MACLAREN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
fl INVESTMENTS
Investments ai8 valued * market v81u8 81 the Balanc8 Sh881 date. G8lns or losses arlslng on
realisalion orrevaluallon are reflected in the lund lo which the investments relate and are recognised
in the Slalemenl of Financial Aclivilie8.
9> FUNDACCOUNTING
Endowment lunds represent the &xpend8ble endowrnent of the Chaiity.
Restrirtsd fvnds are lo be used for specified purposes laid dow￿ by the donor.
Unreslrioled funds are donations and olher incoming resources re¢￿Ved or 98n8raled for
expendllure on Ihe gfyner81 obleollves of the Ch8rlly.
h) RECOGNITION OF LIABILITIES
Liabililies are recognised there Is a leg81 or Gon$lruolNe obligation Ih8t commlls the Charflyto
tho obllgatlon.
11 JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION
UNCERTAINTY
Eslimale8 and judg8rnenls cor)Ilnually èvaluatèd and are based on hlstorlcal experlence and
other factors, including expectations ol future events that are believed to be reasonablè under the
circumstances.
In Ihe vlew olthe Trustees, no assurnpllons concernlng the future or eslirnalion uttcertalnly affecllng
assets and liabilities al the Balance Sheet dale are likely to iesult in a malerlal adjustment to their
carrySng amounts In the next financlal year.
11 FINANCIAL INSTRUMENTS
BaS1cffinan￿al In8lrurnenls arè Inltlally ￿cognL%ed at transacllon value and subsequently measured
at amortised cost with the exception ol investments which are h&ld at fair value. Fin8ncl81 asse15
held al amortlsed ¢osl ¢owpr15e cash 8t b8nk and In hand togetherwith amounts due to connecied
entili&s and accrued Sncome.
ADMINISTRATION OF THE CHARITY I FUNDRAISING COSTS
The expendlture forthe admSntstratlon and governance of the Charlly andfundralsing. Includlng audilorfs
remuneration of £2,700 (2022.. £2,360), 818 born8 by Sumrn8r Fields School Tiust Limited.
TRUSTEES, REMUNERATION AND EXPENSES
The TIu8lee8 recelved no remuneratlon or refund for expenses during the year (2022.. nll).
Thwe were no person8 dlrectly employod bythe Ch8rhy durfng the year (2022.. nll).
10

THE MACLAREN FOUNDATION
NOTESTOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2023
CHARftABLE EXPENDITURE
2023
2022
Grants and award5
Investment management fees
Bank charges
Total
91A44
15,970
86
92,567
18,744
149
FIXED ASSET INVESTMENTS
2023
2022
At 1 Seplember2022
Purchases
Disposal prLKeeds
N61 losses on inveslmenls
Market value at 31 August 2023
Hlstortcal Lx)sl al 31 August 2023
2,706,773
752,504
1254.3561
114,0761
1761,151
681,531
(662,636)
IT3,273)
DEBTORS
2023
2022
Amounts du8 from wnnected partles
Prep8ymenls and accrued Incorn8
68.139
CREDITORS
2023
2022
Amounts due lo connected partle5
11

THE MACLAREN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
FUNDS OF THE CHARrrY
8A. ENDOWED FUNDS.. MOVEMENTS IN THE YEAR
Balance 8t Incom•
I September
2022
Expenditure Investment Transfers Balance at
Los8e
31 August
2023
Endowment fund8
Madaren Awards
Macl8r8n Awards
The funds are held as expendable endowment, the Income received on the funds wlll be PTovided as
bursa118s and scholaf5hips at Sumrner Fields for able boys whose parents would Thot otherwlse be ab19 10
afford the fees.
8B. RESTRICTED FUNDS: MOVEMENTS IN THE YEAR
B8laJJGe al
t Sapt6mb8r
2022
Balance at
31 August
2023
Incom8
Expendlture
Restricted funds
Endow8d in(x>me- Awards
Endowment Income
This fund represents monles earned on the elldowed funds of the Foundation whlch are aval￿ble to fund
bursaii85 and 8cholar8hips as delerniined bylhe Trustees.
8C. UNRESTRICTED FUNDS: MOVEMENTS IN THE YEAR
BAlance Bl
I September
2022
BalanGo at
31 August
2023
Income
Exp8ndlture
Tran3fer
Unrestrlcled funds
Gen&ial reserve
General Reserv•
These funds are held for the general purposes of Ihe Charfty.
12

THE MACLAREN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023
NET ASSETS OF THE FUNDS OF THE CHARITY
The Charity's n81 assets belong lo tho varlous funds as follows..
Flxgd
Assets
Net Current
Assets
Fund
Balances
Endowment funds
3,190.845
99,287
3,290,132
Restrlcted funds
64,894
64,894
Unrestrfcted fund5
54
10. RELATED PARTY TRANSACTIONS
Awards of £91,444 (2022.. £92,567) were provided lo Summer Fle￿$ School Trust ￿Mited in the year. an
assocSated chaiily Icharily number 309683, cornpany nurnbgr 005532431 with effectlve eonlrol of the
Foundation.
Durfng the year donallons were recelv8d from School Governors and Trustees of The Maclar8n FoundalDn
Trust8e5 of £1,000 (2022.'£1.OQOI. Atlhe year arKI, 8 balance due frorn the School of£68.139 was included
In debtors {2022.' croditorof £17,774.
13

THE MACLAREN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
11. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022
restricted
Funds
Restrlct•d Endowed Total Fu
Funds
Funds
2021
No
INCOME AND ENDOWMENTS
FROM..
Voluntary Sources:
Donations
89,709
89,709
Investmènts:
Investment Income
TOTAL INCOME
87,273
89.709
176.990
EXPENDITURE ON:
Charitable expenditurè
121
109460
TOTAL EXPENDITURE
121
109460
NET IEXPENDITUREII INCOME
FOR THE YEAR
15,3081
72,951
67.530
Net Ilossesllgalns on Investmants
173.2731
173,2731
Transfers between Yund¥
Net movement In funds
113,4761
16,3081
13,041
{5,7431
BALANCES BROUGHT
FORWARD at I S8Pt8mb8r 2021
13.603
65,428 2,935.567
3,004,696
BALANCES CARRIED
FORWARD at 31 August 2022
Atl incoming resDufGes and resources expended are deiiv8d frorn coNlinuing aclivities.
14

THE MACLAREN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
12. FUNDS OF THE CHARITYYEAR ENDED 31 AUGUST 2022
12A. ENDOWED FUNDS.. MOVEMENTS IN THE YEAR ENDED 31 AUGUST 2022
Balance at
I S8plgmber
2021
Income
Amounts Investment
Expended
Losses
Transfers
Balance at
31 Augu$t
2022
Endowment
funds
Maclaren
Awards
Maclaren Awards
The funds are held as expend8b18 enclowment, the Incorne received on the funds will be provided as
bursarles and scholarships at Summer Fields for ab18 boys whose parents would not oth8rwis8 be able to
afford the fees.
12B. RESTRICTED FUNDS.. MOVEmE￿rS IN THE YEAR ENDED 31 AUGUST2022
B8lanGe at
I S8pt8nJb8r
2021
Amounts
Expanded
Balance at
31 August
2022
Income
Rostrictsd funds
Endowed income- Awards
Endowm8nt Income
This fund represents monS8s 88med on th8 endowed funds of th8 Foundallon which ar8 avallable to fund
bursaries and schd8r8hip8 as delermlned by the Trustees.
12C. UNRESTRIGTED FUNDS.. MOVEMENTS IN THE YEAR 31 AUGUST 2022
B8lanc8 81
I Septembpr
2021
Arnounts
Expended
Transfers
Balance at
31 August
2022
Income
Unr•strlct8d funds
General reseNe
General Resetve
These funds are held for the general purposes of the Charity.
15

THE MACLAREN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
12D. NET ASSETS OF THE FUNDS OF THE CHARITY AT 31 AUGUST2022
The Charttws ng1 assets belong lo the various fund5 8s follows..
Fixed
Assets
Net Current
Assets
Fund
Balances
Endowmènt fund8
2,706,773
241.835
2,948,608
Restricted funds
SO,118
50,118
UnreslriGled funds
127
16