Registered Charity.. 1112215 THE MACLAREN FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 INDEX Page1-2 TIu51ees' Annual Report Trustees, Responsibilities Independent Auditor's Report Statement of Financial Activities Balance Sheet Notes lo the Financial Sl8lemenls 9-16
THE MACLAREN FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Govemlng Document The Maclaren FoLJndation Ithe 'Foundation'l is governed by a trust deed dated 8 July 2005 (thè "Foundation deed,) and is a reg151ered charity, Number 1112215. Trusteos The Trustees for the period under review to the dale of signing the financial statements were.. WG S Massey KC, MA J Sfakianakis PhD" MWDLiltte Chairman Governor of Surnmer Fields School Tiusl Llmlled Principal address Mayfield Road Oxford OX2 7EN Objectives of the Foundation The Foundation was established as a charitable trust in July 2005 to provide lor the advancement of education at the school of Summer Fields School Trust Limited (Charity nurnb8r 3096831 Ilhe "School'l so long as the School, in Ihe opinion ol Ihe Trustees, is conducled independently of the Slate and of any loo81 or public authority. The Foundation's principal object is lo establish and build a permanent endowment fund lo provide bursaries and scholarships at the School for able boys whose parents would not otherwise be able tts afford the fees. On ils formation in 2005 the Foundation received the trusl fund of the Maclaren Trust (Charity No 10207571 by way of addition lo its charitable funds to hold on the trusts of Ihe Foundation deed. Policles of the Foundation The Trustees are empowered through the Foundalion deed to apply income (including interest 8ainod} towards scholarships and buisaries Ifoi boys selecled by the Trustees in conjunction with the Headrnaslerl and lo make other awards of income or capital foi the benefit of those at the School. Tru5tè• recruitment and training The Governors of the S¢hool have the power to appoinl replament or additional Tru51ees ol the Foundallon. Such appointments would usually be discussed b8lweèn th6 Chairman ol the Governors lor as delegated by him) and the Chairman of the Foundation lor 85 delegated by himl. wrth dLJe consideration being given to the skills of the existing Trustees and the requisite skills. Trustees are encouraged lo allend nferenCeS and seminars, details of which are Circulaled by the Clerk lo the Foundation from time lo lime. Application of funds and financlal rèvlew The Foundation's principal funding souic8s ar& charitable donations from former pupils of the School {andlor their parenls), together with interest and other income earned on its funds. In the year, the Foundation rèceived income totalling £141,572 12024.. £414,416) and made scholarship and bursary awards lolalling £129,19812024.' £94,421) in furtherance of the Foundation's objectives.
THE MACLAREN FOUNDATION TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Icontinuedl Rèvlew of activities and achievements In the financial yèar ended 31 Augusl 2025 donations and gift aid wa the School'5 Annu31 Fund amounled to £18,84012024.. £233.2111 and £5,20512024.' £53,141) in support of the Scholarship Programme dir&¢tly Inol via the Annual Fund}- a lolal of £24,04512024.' £286.3521. The Foundation celebrated its 20th anniversary during the financial year. The Tiuslees would lik¢ lo thank the many donois who have supported the Foundalion over the 20 years since ils formation, enabling the Foundation lo provide funding lor the education 81 the School of boys whose parents could not otherwise attord the lees and to build the endowment for the benefit ol an incieasing proportion of boys. In the short film Soaring Futures. current and former Maclaren scholars, several of whom have now been Ihiough university and started their working live5, diswssed whatthey had gained from their lime al the School. The Trustees gratefully acknowledge that the Maclaren scholars Ihemselv$s are the best ambassadors for the Foundation and for furthering the fulfilmenl of its vision. Over the past 10 ygars thg Foundation has made awards for Maclaren scholaiship5 and bLJrsaries lolalling £806,011. Public beneflt The Trustees confirm that they havè complied with their duty in Section 17 of the Charities Act 201110 have due regard lo public benefrt guidan¢e by the Charity Commission for England and Wales. Reserves policy The Trustees, policy Is lo bulld fLJrids given by donors as expendable endowrnent for the purpose of maklng annual grants in fulfilmenl of the Foundation's objects. Grants in respect ol individual pupils usually cover a number of years (based on rtaIn criterial. 11 is therefore possible that in any one yéar there may not be enough endowment income to pay these grants in full. If this were lo occui, the Trustees would rèview the situation and consider all their options, including the possibility of releasing some capital value from the expendable endowment funds. The Foundation has an Investments Policy which is reviewed every year. At 31 August 2025. the endowed ftjnds stood al £4,202.72312024 £3.817,2221 Volunteers and other support The Chairman would like lo thank all those who voluntarity give so much of their lime lo support the work of thè Foundation. The Trusteès would also like to Ihankthe Headmasler. Finance Director, and Dévèlopm6nt Director olthe School for all their assistance. Approved by the Board of Trustees of The Maclaren Found81ion on lo rf•*6L l£•l£ and signed on ils behalf by.. W Massey Ichairmanl
THE MACLAREN FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES ACCOUNTING AND REPORTING RESPONS5BILITIES The Trustees are responsible for preparing the Annual TFUStees' Report and the financial statements in accordance with applicable law and United Kingdorn Generally Accepted Accounting Practice (United Kingdom Accounting Slandardsl. The law applicable lo charities in England and Wales requires the Tru5t8è5 to prepare financial slatemenls for each finall¢ial year which give a true and fair view of the stale of affairs of the Charity and of the incoming resources and application of iesources of the Charily for that period. In preparing these financial slalements, the Trustees are required to.. select suitable accounting policies and then appty them ¢onsistèntly', observe the methods and piin¢iples in the Charities SORP., make judgments and eslirnales that are reasonable and prudent; stale whether applicable accounting standards have been followed. subject lo any maleiial departures disclosed and expl8ined in the financial statements., prepare the financi81 slalemenls on the going concern basis unless it is inappropriate lo presume that the charily will continue in business. The Trustees are responsible lor keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions, disclose with reasonabl8 aecuracy at any time the financial position ol the Charity and ènable them to ensure that the financial sl8letnent5 comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Gharily'5 conslilulion. They are also responsible for safeguarding the 8ssels of the Charity and hence for laking reasonable steps foi the prevèntion and detection of fraud and other irregulaiilies. Approved and authorised for issue by the Board of Trustees of The Maclaien Foundation on and signed on ils behalf by". 10 1026 W Massey IChaim)anl
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MACLAREN FOUNDATION FOR THE YEAR ENDED 31 AUGUST 2025 Opinion We have audited the finana81 $t8lemenls of The Maclaren Foundation for the year ended 31 August 2025 which comprise the Statement ol Financial Activitie5, the Balance Sheet and notè5 to the financial statements, including significant accounting policies. The financial reporting framewoik that has been appli&d in théir pieparalion is applieable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial slalern8nls'. give a true and fair view of the slate of the charity's affairs as al 31 August 2025 and of ils income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accèpted Accounting Practi.. and have been prepared in accordance with the requirements of the Charilies Act 2011. Basls for oplnlon We conducted our audit in accoidance with Inleinalional St8ndaids on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under those standards are further described in Ihe Auditor's r8sponsibililiÉs foi the audit ol the financial statements section of our report. We are independent ol the charity in accordance with the elhical requiiemenls that are relevant lo our audit ol the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in aceordance with these requirements. We believe Ihat the audit evidence we have obtained Is sufficient and appropriate lo provide a basi5 for our opinion. Conclusion¥ relating to going concern In auditing Ihe finan¢ial slalements. we have concluded that the Irustees. use of the going concein basis ol accounting in the preparation of the financial statemènts is appropriate. Based on the work we have performed, we have not identified any rnaterial uncertainties relating lo events 01 conditions that, individually or collectively. rnay ¢asl signifie3nl doubt on the charily's ability to continue as a going concern for a period ol al least twelvfy months from when the financial statements are authorised for issue. Our responsibilities and the responsibilib.es of the trustèès with rèspèct to going concern are described in the relevant sections of this report. Other infomiation The trustees are responsible for the other information Contained within the annual report. The other informalion comprises the informalion induded in the annual ieport, othèr than the financial slatemerils and our auditor's rèport Ihereon. Our opinion on the financial slalemenls does not cover the other infoirnation and, except to the exlenl otherwise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility Is lo read the other information and, in doing so, consider whether the olhei infoirnalion is rnaleiially incon51slenl with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misstalemenls, we are required lo determine whether this givès rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomed, we ¢on¢lude that there is a material misslalèmènl ol this other information, we are required lo report that fact. We have nothing to report in this regard.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE MACLAREN FOUNDATION FOR THE YEAR ENDED 31 AUGUST 2025 ICONTINUEDI Matters on which we are required to report by exception We have nothing lo report in respèct of thè following matters in relation to which the Charibes (Accounts and Reports) Regulations 2W8 requires us lo report lo you if. in Qui opinion.. the information given in the financi81 statements is Inconsistent in any m8lerial respèct with the trustees, report., or sufficient and proper accounting records have not been kept by the charity.. or thè financial statements are not in agreement with the accounting records and returns,. or we have not recéived all the information and explanations we require for our aLtdit. Rèsponsibilities of trustees As explained more ful in the trustees, responslbililies st81emenl sel out on page 3, the trustees are responsible for the preparation of the financial stalernenls and foi being satisfied that they give 8 Iiue and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free Iitstn material miss18lement, whether due to fraud or error. In preparing the financial statemenls, the trustees are responsible for assessing the charity's ability lo conliriue as a going concern, disc105ing. as applieable, matters related to going concern and using the going concern basis of accounting unless the Iruslees eilhei intend lo liquidate the charity or lo cease operalk)ns, or hav& no realistie allernalive but to do so. Auditor's responsibilities for the audit of the financial ststements We have been appointed as auditor under section 151 of the GharSties Act 2011, and report in accordance with the A¢ts and relevant regulations made or having effect Ihereunder. Our objectives are to oblain reasonable assurance 8boul whether the financi81 slalemenls 8$ a whole are free from material misstatemenl, whether due to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level ol assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expeeted to influence the economic decisions of users taken on the basis of these finan¢i81 slalemenls. Details of the extent to which the audit was considered capable of delecling itregul8rilies, including fr8ud and non-cc>mpliancè with laws and regulations are sel out below. A further description ol our responsibilities for the audit of the financial s18lemenls is loealed on the Financial Reporting Counul's website al.. www.frc.org.uklaudilorsresponsibililies. This description forms part of our audilorfs report. Extènt to whlch the audit was considered capable of detecting irregularities, including fraud Irr6gularities, including fraud, are instances of non-compliance with laws and regulations. Vve identified and assessed the risks ol material misstalement of the financial slalernenls from iiregularilies, whether due lo fraud or error. and discusstrd these between our audil leam members. We then designed and performed audit procedures responsive lo those risks. including obtaining audil evidence sufficient and appropriate to provide basis for our opinion. We obtained an understanding of the legal and regulatory frameworks wilhin which the charity operates, focusing on Ihose laws and regulations that have a direct effect on the deleiminalion ol material amounts and disdosures in the financial statements. The laws and regulations we considered in this context weie the Charities Acl 2011 together with ihe Charities SORP IFRS 1021. We assessed the required compliance with these laws and iegulalions as part of our audit prOdureS on the related financial statement ilems.
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE MACLAREN FOUNDATION FOR THE YEAR ENDED 31 AUGUST 2025 (CONTINUED)
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context for the UK operations was taxation legislation.
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 Maclaren Foundation Trustees 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 4[th ] Floor St James House St James' Square Cheltenham GL50 3PR
Date: 13 March 2026
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 MACLAREN FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted Funds Restricted Endowed Totsl Fund Funds Funds 202S Total Fund 2024 Note INCOME AND ENDOVVMENTS FROM.. Voluntsry Sourc8s: Donations 24,045 24,045 286,352 Investments: Investment incorne 16 117 511 117 527 128 064 TOTAL INCOME 16 117,511 24,045 141.572 414,416 EXPENDITURE ON.. Charrfcable expenditure 74 129 226 152 130 114 279 TOTAL EXPENDITURE 129 226 152 130 114279 NET IEXPENDITUREII INCOME FOR THE YEAR 1581 111,7151 1.215 110,5581 300, 137 Nel gain on inveslmenls 384,286 384,286 260,488 Transfers between fund8 Net movement In fund$ 1581 111.7151 385,501 373,728 560,625 BALANCES BROUGHT FORWARD at 7 Seplember2024 82 98,401 3.817.222 3,915,705 3,355,080 BALANCES CARRIED FORWARD at 31 August 2025 The notes on pages 9 to 16 ft)m part of thèse Financial Slatements.
THE MACLAREN FOUNDATION BALANCE SHEET AS AT 31 AUGUST 2025 Note 2024 FIXED ASSETS Fix6d asset investments 4,176,018 3,700,589 CURRENT ASSETS Debtors Cash al bank and on deposit 22,265 83.118 117,165 215, 116 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR NET CURRENT ASSETS 11341S NET ASSETS REPRESENTED BY Expendable endowed fund ResliiGted fund Unrestricted fund 4,202.723 86,686 24 3.817,222 98,401 82 8B 8C TOTAL FUNDS The notes on pages 9 tts 16 form part of these Financial Slal$m&nls. These Financial Statements have been 8pprc>ved and authorised for issue by the Trustees on lo rlrtfcL 20 Signed on behalf of the Trustees W Massey (Chairman)
THE MACLAREN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES The following accounting policies have been used consislenlly in dealing with itèms which a considered material in relation to the Financial Stalemenls.. al CHARITY INFORMATION The Maclaren Foundalion is a registered charity wilh the Charities ComrnissK)n England and Walès (eharity number 11122151. The address of the registered Offi is Summer Fiek15 School, Mayfield Road. Oxford OX2 7EN. bl BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have bèèn prèparèd under thè historical cost convention. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordancewilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS 10211 and the Financial Reporting Standard applieabl& in the UK and Republic of Ireland IFRS 1021. The Maclaren Foundation meets the definition ol a public benefit entity under FRS 102. Cash Flow Slatement As the results of the charity are included within the financial statements of the parent, Survmer Fields School Tiusl Litniled. the charity has taken advantage of the FRS 102 exemplion from preparing ils own cash flow statement. The functional currency of the charity is considered to be GBP because that is the cuiiency of th8 primary economi¢ environment In which the s¢hool operates. cl GOING CONCERN The Tiustees have undertaken detailed planning and forecasting and continue lo closely monitor the economic situation, in particular the oonlinued Cost of living pressure, including high inflation, compounded by VAT now being payable on school fees. Despite the currènt circumstances the Trkjstees believe that the Charity's financial resources and contingency planning is sufficient lo ensure the abilily of th@ Charity to continue as a going concern for the foreseeable future, being al least twelve months from the dale of approval of thès8 linaneial statements and therefore have prepared the financial slalemenls on a going wncern basis. dl INCOME Donations are accounted for in the Slalemenl of Fin8n¢ial A¢tivilies on a rècèivable basis. Income from investments is included in the Statement of FinanThal Activities only if recewed, or if declared and recèivable. el EXPENDITURE Expenditure is induded in the Statement of Financial Activities on an accruals basis. The provision ol bursaries and scholarshlps lo pupils of Summer Fields School is included under Charitable Expenditure.
THE MACLAREN FOUNDATION NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 fj INVESTMENTS Investments are valued al market value at Ihe Balan Sheet dale. Gains or losses arising on re8lisalion or revaluation are rèflected in the fund towhich the investments relale and are recognised in the Stalernenl ol Financial Activities. gl FUND ACCOUNTING EndowtneFrt fund5 represent the expendablo endowment of the Charity. Restricted funds are to be used for specified purposes laid down by the donor. Unie51ricled funds are donations and othèi ineoming résourc8s r&caived or generaled for expenditure on the general objectives ol the Charity. h) RECOGNITION OF LIABILITIES Liabilities are recognised once there is a legal or conslruclNe obligation that cornmlls the Charlly lo th& obligation. i) JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY E51imales and judgernenls are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be ieasonable undei the circumslances. In the view of the Tiuslees. no assumptions Concerning the future or estimation Ljncertainly affeoting assets and liabilities al the BalanGe Sheel dale are likely lo resull in a m3t6rial adjustmènt to their carrying amounts in the next financial year. j) FINANcL INSTRUMENTS Basic financial instruments are initially recognised al transaction value and subsequently measured at amortised cost with the exception of investments which are held al lair value. Financial assets held al atnortised cost comprise cash at bank and in hand together with amounts due to connected enlilies and a¢Ued incorne. ADMINISTRATION OF THE CHARITY I FUNDRAISING COSTS The expenditure for the adminislralion and goveinance ofthe Ch8ri1y 8nd fundr8islng, includSng audilorfs remunèration of £2,910 (2024.. £2, 780), are borne by Summer Fields School Trust Limited. TRUSTEES, REMUNERATION AND EXPENSES The Trusleos received no remLJneration or refLJnd for expenses during the year (2024.. nil). There were no persons directly employed by the Gharily during the year (2024., nil), 10
THE MACLAREN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 CHARITABLE EXPENDITURE 2025 2024 Grants and awards Investment management fees Bank charges Total 129,198 22,830 102 94,421 79,750 108 FIXED ASSET INVESTMENTS 2025 2024 Maikel value al 1 Seplember 2024 Purchases Disposal proceeds Nel gains on investments Maikel value at 31 August 2025 Historical cost al 31 Augus12025 3,700,589 1,001,736 1910,5941 384,286 3, 190,845 962,663 (713,407) 260,488 DEBTORS 2025 2024 Amounts due from ctrnnected parties Prepayments and accrued Incom$ 16,291 77,678 CREDITORS 2025 2024 Amounts due lo connected parti&s
THE MACLAREN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 FUNDS OF THE CHARITY 8A. ENDOWED FUNDS: MOVEMENTS IN THE YEAR Bal0ce at Incom8 I September 2024 Expènditure Investment Balance at Gains 31 August 2025 Endowmènt funds Maclaren Awaids Maclaren Awards The funds are held as expendable endowment, the income te1Ved on the funds will be provided as bursaries and scholarships at Summer Fields for able boys whose parents would nol otherwise be able lo afford the fee5. 8B. RESTRICTED FUNDS.. MOVEMENTS IN THE YEAR Balanc& al q September 2024 Incom• Expenditure Balance at 31 August 2025 Restricted funds Endowed income- Awards Et)dowment Income This fund represents monles eamed on the endowed funds of the Foundation which are avallable lo fund bursaries and scholarships as deleimined by Ihe Tiust8és. 8C. UNRESTRICTED FUNDS.. MOVEMENTS IN THE YEAR Balanee al I September 2024 Income Expenditure Balance at 31 Augu$t 2025 Unrestricted funds General serve General Reserve These funds are held for the general purposes of the Charity. 12
THE MACLAREN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NET ASSETS OF THE FUNDS OF THE CHARITY The Gh8ri1ls nel assets belong to the various funds as folltsws.. Fixed Assets Net Current Assets Fund Balances Endowment funds 4,176.018 26,705 4.202,723 Restricted funds 86,686 86,686 Unrestricted funds 24 24 10. RELATED PARTY TRANSACTIONS Awards of £129,198 (2024., £94,421) were provided for the edueation of boys at Summer Fields Sehool Trust Limited in the yeai. an associated charity Ichaiily number 309683, ¢ompany numbor 005532431 with effective control ol the Foundab'on. During the year donations were rs¢e5ved from School Gov&mors and TrLJsl¢¢s of The Maelaren Foundation Trustees of £nil (2C124.. £1,000), Al the year end, a balance due frorn the School of £16.291 was included in debtors12024.' £77,618). 11. FINANCIAL INSTRUMENTS 2025 2024 Finan¢ial Assets Financial assets measured al fair value 4 176018 3 700 589 Financial assets held at fair value include quoted assets held as investments. 13
THE MACLAREN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 202S 12. STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Unrèstrlctèd Funds Rostricted Endowed Totsl Fun Funds Funds 2024 INCOME AND ENDOWMENTS FROM: Voluntsry Sources: Donations 286,352 286,352 Inv•stmonts'. Investment income 128 062 128064 TOTAL INCOME 128,062 286.352 414,416 EXPENDITURE ON: Charitable expenditure 74 114 279 TOTAL EXPENDITURE 74 114279 NET IEXPENDITUREII INCOME FOR THE Y&4R 1721 33,607 266,602 300,137 Nel gain I11(>551 on invè51menls 260,488 260,488 Transfers between funds 100 100 Net movement in fund 28 33.507 527.090 560,625 BALANCES BROUGHT FORWARD al I September 2Q23 54 64.894 3,290,132 3.355,080 BALANCES CARRIED FORWARD at 31 August 2024 All incoming résouie85 and résourcès èxpended aré dèiivèd from continuing aclivilies. 14
THE MACLAREN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13. FUNDS OF THE CHARITY YEAR ENDED 31 AUGUST 2024 13A. ENDOWED FUNDS: MOVEMENTS IN THE YEAR ENDED 31 AUGUST 2024 8al8nce al Income I September 2023 Expenditure Investment Transfèrs Balance at Gains 31 August 2024 Endowment funds Madaren Awards Maclaren Awards The fund5 are held as expendable endowment, the income received on the funds will bè provided as bursaries and scholarships at Summer Fields for able boys whose parènts would not olhetwise be able lo afford the fe8s. 13B. RESTRICTED FUNDS: MOVEMENTS IN THE YEAR ENDED 31 AUGUST 2024 Balance al q September 2023 Income Expendlturè Transfèrs Balance at 31 August 2024 Restricted funds Endowed income - Awards Endowment Income This fund represents monyes eamed on the endowed funds of the Foundalion which are availaNe lo fund bursaiies and scholarships as deleimined by the Trustees. 13C. UNRESTRICTED FUNDS.. MOVEMENTS IN THE YEAR 31 AUGUST 2024 B818noe at 1 September 2023 Balance at 31 August 2024 Income Expenditure Transfers Unrestricted funds General reserve G•nèral Re$erve These funds are held for the general purposes of the Charity. 15
THE MACL4REN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13D. NET ASSETS OF THE FUNDS OF THE CHARITY AT 31 AUGUST 2024 The Charity's nel assets belong lo the various funds as follows.. Fixed Assets Net Current Assets Fund Balances Endowm&nt funds 3,700.589 116.833 3,817,222 Restricted funds 98A01 98.401 Unrestricted funds 82 82 16