Registered number: 06603689
Charity number: 1132826
THE MAURICE UPPERTON FOUNDATION
(A Company Limited by Guarantee)
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
TWP ACCOUNTING LLP
Chartered Accounlanls & Stalulory Auditors
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
CONTENTS
Pag8
Reference and Admlnlstratlve Deta115 of the Chawltytr Ils Trustees and Adv18er5
Trnslegs. Rèport
Independent Examiner's Report
Statomènt of Flnanclal Actlvltlas
Balance Sheet
Noles to th& Flnanclal Statomonts
10- 18

THE MAURICE UPPERTON FOUNDATION
IA Company Llmlted by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 31 MARCH 2024
Trnsleès
H Costèr
A Berry
C Cosler
F Davies-cosler
Company roglstared number
06603689
Charity registered number
1132826
Reglst?red offlca
The Old Rectory
Church Street
Weybridge
SiirrAy
KT13 8DE
A¢¢ountant$
TWP Accounting LLP
Chartered Accountants and Sl8tutory Auditors
The Old Rectory
Churcli Slreel
Weybridge
Surrey
KT13 8DE

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
The Trustees present their annual report together wilh the fi'nancial slalemenls of the charity for the 1 June 2023 to 31 March 2024.
The Annual Report serves Ihg purposes of both a Trustees, report and a dir8clors' report under company law. The Trustees confirm
that thè Annual Report and financi21 gtatemènls of thè eharilable Company comply with thè eurronl Statutory re4uiremenl6, tha
requirements of the charitable cornpany's governing document and the provisions of the Slalement of Recommended Practice ISORP)
applicable to tharilies preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic
of Ireland {FRS1021 leff8Ctive 1 J8llu8ry 20191-
Since the aharily qualifies as small under section 382 of the Compani8s Act 2006, th9 Strategic Report required of m8dium and large
companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2D13 has been omitted,
The following person5 were Trust8es, Dir8clor5 and M3nagemenl Cornrnittee mernbers during the period..
H Costèr
F Davigs Coster
A Berry Trust88 and management commlllee member only
C Coster Trustee and management committee member only
Objectives and activitie$
a. Poli¢ios and objo¢liv•s
The Foundation w85 incorpor818d on 27 Nl8y 2008 by th8 Iru518es of the Mauric8 Uppgrlon Charitable Trust. Thal trust was 8
regislored charity set up on 13 July 2006 by the execulors ol Maurice Upperton deceased following a lengthy period of liligalion to
recover assets due lo his eslate, It was governed by the Will of Maurice Upperton dated 3 Augjst 1988 which was proved al 8ristol
probate registry on 12 July 1995. Its object was lo dislribule in¢ome as may be allowable after expenses to charitable inslilulions or
other charitable projects in England al Ihe absolute discretion of the Irusle85.
The governing document severely limited their scope lo make discretionary income distributions, and with a view to creating a more
pemianenl fu￿1 lo meet the known wishes of Maurice Upperton th8 Irusle8s made 8 Resolution under section 75 of th8 Charities Act
1993 as amended by the Charities Act 2006 to spend the whole of the permanent endowment of the charity This was approved hy the
Charity Cornmission and at a meeting of the trustees held on 15 March 2010 and il was resolved that the entire assets and liabilities of
the charity be transferred lo the Maurice Upperton Foundation. This was not approved by the Charity Commission until much later, and
the transfer w8s completed by 31 March 2011.
In setting obj8clives and planning for aclivilies, thè Trusl8ès have givgn due consid8ralion lo g8nèrAI guidance publish8d by Ihe
Charity Commission relating to public benefiL including the guidance 'Publi¢ benefit.. running a charity IPB21'.

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
Achlevements and performance
a. A¢hièvem8nts of our early year5
Since the Charity's inception we have sUPPOrted many young people, between the ages of ten years to Iwenty-fi've year5 old. We have
had many mor9 applicants and all wgrg considgrad. Most of the applications hav& comè from word of mouth.
All but one of our recipients were resident or at school in Wesl Sussex, the exception being from South Wales. We have covered all
scholarship areas of Music, Drama, Academ￿, Art and Sport. Some of our recipients had talent in more than one area.
To illustrate, we have supported Ac8demic applicants, (with additional talent in Music, and Arll, Ballet, Triple Threat Performing Arts
students and one Tennis player. The schools we have been involved with have been a variety of Perfomiing Arts and Private Schools.
with Iwc) training sports academi8s for thg young Tennis Player from South Wales.
The Geographical areas of our schools have been West Sussex, Brighton, London, Berkshire and on8 in Spain, The longest tim8 of
support was our very first applicant who was sUPPOrt8d eight years in total. She obtsined 4A's in h8r A Level subjeds and went to
Durham Univorsily whoro sho achiovod a 1st Class dogroe in Ancionl Hislory and has complolod a Maslcrs with Distinction in Classics.
She then went on lo a year's teacher Iraining in Liverpool and is now leaching al a school in Berkshire. S)e is also an Assessor for the
Duke of Edinburgh's Award Scheme.
Another of our sludenis achleved a BA in Theatre Studies in Summer 2020, and she is now working in London. We also supported a
talented young man who had been accepted to study at the London School of Muslcal Theatre but was slruggllng lo complete the
necessary funding for th9 course. He has now completed the cour59 and is working in th8 8ns8mblg of Les Misgrab18s in the Wgst
End, London.
Throughout th& perlod we supported six slud8nls al Chrisl's Hospital with their music18sson f89s. More muslcians wlll be supported
into the next academic year.
The Found81ion continues lo be commilled a5 a Dcfiation Governor to supporting a young student at Christ's Hospital. He started al
the school in Sepl8mb8r 2021. and is very successfully taking advantage ol all that the school has lo offer.
A Ma1￿ new project
The Foundation is also currently involved in a new project where it is a lounding partner in the City of London Lord Mayor's Royal
Mathematical School Scholarship at Christ's Hospital. This Is a scholarship in perpeluily to support a sixth form student which will allow
Ihe Foundation lo make a siynifi¢anl impact on social mobility for students from a disadvantaged background. The students gain a
valuabl8 sl8pping stone between GCSES and university in a supportive and academic environment where Ih8y ar8 also b8 able to
explore their talents within a wide range of 8Xtracurricular opportunities including the creative arts, music and sport. This projecl is tilled
The Maurice Upperton RMS Scholarship and the fi'rst sludenl starts in September 2024.
We have also supported a student in higher education to do a posl-graduale Law degree at Ihe University of Law.
Lastly. it continues lo be very tirne consuming and challenging lo find suit?ble beneficiarles as 51ipulated by Ihe Trust's founder and to
maintain checks on the 8xisling beneficiaries. It Iher8for& continues lo be the Iruslees, pr8f8renc8 lo build up Ihe rental yield in their
investment company, Adrian Properties Limited, lo create a larger income stream from which the trustees would be able to employ
personnel lo perform these administrative tasks under their guidan￿. This would also have the advantage of securing the income base
lo give the trustees confidence th81 they would continue to be able lo fund beneficiaries through to the end of their educational
programme and eventually lo be able lo expand the activities of the charity.
I policigs and procgdure5 have b99n r8view8d, refined and updated, particulady with GDPR in Mind.

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
Structure, governance and management
a. Constitution
The Maurice Upperton Foundation is registered as a charilable company limited by guarantee and was sel up by a Memorandum of
Association.
The company is constiluled under a Memorandum of Association dated 27 May 2008 and is a registered charity number1132826.
The principal object of the company is lo provide financial assislance to children and young paopla who have shown the talent, aptiluda
and commitment that will enable them to gain great benefil from a first class education yet are prevented from achieving this through
lack of resources. In s8lting our objectives and planning our activities we have given careful consideration lo the Charity Commission's
general guidanc8 on public bfin8fit and in particular to ils supplem8Nlary public b8nefil guidance ¢)n advancing gducation.
b. Methods of appointment or election of Truslees
The management of the charity is the responsibility of ihe Trustees who are elected and co opted under the lenms of the Memorandum
of Assoclatlon.
Organlsatlonal structur• and d•c131on-makln9 pollcles
The board cortsisls of four dir&clors who have mel r8gularly durlng the year. Th&y have examined where there may b6 risks which the
charity could face and confirm that systems hav8 been established lo enable steps lo be taken to lessen these risks.
Financial roViOW
Golng concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in
operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing th8
financial statements. Further delails regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves pollcy
Basi practice holds thai reseNes gqual Ihrea months of an organisaiion's running costs. Thg Directors note thai a ioial lunresiricied
fvndsl amount of £174,193 is sufficient to meet the demands of the organisalion's running wsts.
Financial activities
The financial activities are summarisgd on page 7 of the accounts. During the period the charity ￿CeiVed lolal incoming resources of
£153,ODO122123 - £180,000) The charity exp8nded £4.218122123 - £4.6801, excluding charitabl8 donations and write offs.

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
Statement of Trustees. responslbllltles
The Trustees Iwho are also the directors of the eharity lor the purposes of company lawl are responsible for preparing the Trustees,
Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Praclicel.
Company 18w requires the Trustees lo prepare fin8nci81 statements for e8ch fin8n¢i81 . Under ¢omp8ny law, the Trustees rnusl not
approv8 the financial 5talements unless they are salisfied Ihal they give a true and fair view of th8 Stat8 of affairs of the charity and of
its incoming resources and application of resources. including its income and expenditure. for that period. In preparing these fi'nancial
slalements, the Trustees are required to,,
select suitable accounting policies and then apply them consistently.,
obs8rv8 tha mglhods and principlas of th8 Charili8s SORP IFRS 102).,
make judgments and accounting eslimales that are rea50n8ble and prudent.,
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures
disclosed and explained in the financial slalemenls.,
prepare the financial slalemenls on the going concem basis unless il is inappropriate lo presumè that the charity will continue
in bLisiness.
The Trustees are reswnsible for keeping adequate accounting records that are sufficient lo show and explain ihe charity's transactions
and disclose with reasonable accuracy al any time the financial Fosilion of the charily and enable them to ensure that the linancial
slalernenls comply wllh the Companies Act 2006. They are also responslble for safeguardlng the assets of the charlty and hence for
taking reasonable slgps for th8 prevention and detection of fraud and olh8r irr8gularilies,
Approved by order of the mernbers of the board of Trustees on 12 December 2024 and slgned on thelr behalf by..
M Cost•r
Truslee

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
Independent Examlnefs Report to the Trustees of The Maurlce Upperton Foundatlon I'the charlty'}
I reF)orl lo th8 charity Trustees on my examination of the accounls of th8 charity for the period 8nded 31 fv18rch 2024.
Responslbllltles and Basls of Report
As the Trustees of the charity land ils directors for the purposes of company lawl you are responsible for the preparation of the
accounts in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Acl'l.
Having satisfi￿1 myself that the accounts of the ¢harily are not required lo be audiied under Part 16 of ihe 2006 Act and are eligible for
indep8ndenl examination. I report in resp8ct of my 8xamin81ic>n of th8 charity's accounts carri8d out under section 145 of the Charit18S
Act 2011 I'lhe 2011 Acl'}. In carrying out my examination I have followed the Directions giver) by the Chanly Commission under
section 14515ljbl of the 2011 Act,
Independènt Examin&r's Stst&m8nt
I have completed my &xamin8lion. I confirrn that no matters have corn8 to my allgnlion in connection with th8 8x8rninalion giving rn8
Cause lo believe..
accounting records were not kept in respect of Ihe charity as required by section 386 cf Ihe 2006 Acl- or
the accounts do not accord with those records., or
the accounts do not comply with the a¢￿untIng requlremerls of section 396 of the 2006 Act other than any requirement that
the 8c.c.ounlq give 8 '1nJe and f2irf view whirh Ss not p matter conqidered 84 P8rt of en indep8nd8nl ex8mSn8tion', or
th8 accounts hav8 not b88n prepared in accordanc8 with the methods and principles Df the s￿lement of Fiecomm8nded
Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the
Flnancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211.
I have no concerns and have come across no other matters In connecllon wllh the examination lo whlch allenllon should be dffjwn In
this report In order to enable 8 proper understsnding of the accounts lo b8 reached.
This report is rnade solely lo the charity's Trustee5, as a body, in accordanc9 with Part 4 of the Charities IAccoun15 and Reports)
Regulations 2008. My work has been undertaken so that I might stale lo the charrty's Trustees those matters l am required to slate lo
them in an Independent Exarniner's Report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume
responslbllily lo anyone other than the charlty and Ihe charlty's Trustees as a body. for my work or for ihls report.
Signed..
Da18d.. 13 December 2024
Philip Munk FCA, FCCA
TWP Accounting LLP
Chartered AGcount8nts and Statutory Auditors
The Old Rectory
Church Street
Weybridge
Suiiey
KT13 8DE

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE PERIOD ENDED 31 MARCH 2024
Unrestricted
Total
Total
Endowment funds
funds
fvnds
funds
10 months ended 10 months ended 10 months ended 12 months ended
31 March
31 March
31 March
31 May
2024
2024
2024
2023
Note
Donalitsns and legacies
Expendilure on-
Chari18b18 aclivi118S
153,000
153,000
180.000
194,476
194,476
8.900
Total expendlture
194,476
194,476
8,900
Not mov•mont In funds
141,476)
141,4761
171,100
Reconriliation of funds:
Total funds brought forward
Nel movetnenl in fundg
3.311.993
215,669
141,476}
3,527,662
(41,4761
3,356,562
171.100
Total funds Carrled forward
3,311.993
174,193
3,486,186
3.527,662
The Slalemenl of Financial ActlvitSes in¢lude$ all gain$ and bsses recognis8d In the perS0d.
The notes on pages 10 to 18 form part of these financi81 slalements.

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
REGISTERED NUMBER: 06603689
BALANCE SHEET
AS AT 31 MARCH 2024
31 March
2024
31 May
2023
Note
Fixed a$sets
Inveslmenls
3,200.000
3,200,000
3,200,000
3,200.000
Currant ass•ts
D&blors
10
265.491
31,526
292,491
45,421
Cash at bank and in hand
297.017
337,912
Credllors.. amounts falllng due wlthin one year
110.8311
110.2501
Nel current assets
286,186
327,662
Total assets less current Ilabilitles
3,486.186
3,527,662
Total nat assèts
3,486,186
3,527,662
Charlty fund8
Endowment funds
12
3,311,993
174,193
3.311,993
Unrestricted funds
12
215,669
Total lunds
3,486.186
3,527,662
Thè charity was entitled lo exemption from audit under secllon 477 of the Companies Act 2006.
The m8mbers have Trol required th8 company lo obtain 8n audit for the period in qu8stion in accordancg With section 476 of
Companies Act 2006.
The Trustees acknowledge their responsibiliiies for complying with the requirements of the Act wth respect lo accounting records and
preparation of financial slal8m8nts.
The financial slalements have been prepared in accordan￿ with the provi5ion5 applicable lo entities subject to the small companies
rggime.
The financial slalements were approved and authorised for issue by the Trustees and signed on their behalf by..
H Coster
Trustee
Dale_. 12 December 2024

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
REGISTERED NUMBER: 06603689
BALANCE SHE￿ {CONTINUEDI
AS AT 31 MARCH 2024
Tha nolos on pag88 10 to 18 form part of these financial 81alements.

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
General infomiation
The Maurice Upperton Foundalion106603689) is incorporated and a registered charity {1132826) in England and Wales. The
company is lirniled by guaranlee of £1 and does not have share capital. In Ihe event of the charity being wound up, the liability
in respect of the guar8nle8 is limited lo £5 per member of the charity- The address of the registered office is given in the charity
information on page 1 of these financial slalemenls.
Accounting PDlities
2.1 Bafjis of preparation of financial statements
The financial statements have been prepared in accordance with the Charitl8s SORP IFRS 102} - Accounting and
Reporting by Charities,, Statement of Recomm8nded Practice aoplicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland IFRS 1021 effective 1
January 2019 the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the
Companies Act 20D6.
Th8 Mauricg Upperton Foundation m891s the d8finition of a public benefit 8nlily und8r FRS 102. As591s and liabiliti8$ are
initially recognised at historical cost or Irans8clion value unless othenvise staled in the relevant accounting policy.
Th9 financial $ls1gmgnts are pr9par9d on g going ¢onc9m basi$ undgr the hislori¢g1 Gosl oonv9ntion, modifi9d lo inoludg
certain items al fair value. The financial slalernenls are presented in sleding which is the functional currency of the charity
and rounded to Ihe nearest £.
The financial stslemenls are pres8nled for a period shorter than one year. froTN 1 June 2023 10 31 March 2024, The
Comparative amunls presented in the financial slalemenls (including the related notes) are not entirely comparable as
they relate lo the period from 1 June 2022 10 31 May 2023.
Cagh flow
The charity has taken advantage of the exemplion of 'Updale 8ullelin 1, in preparing these financial slatemenls as
permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland
Th8 slgnificanl accounting policAes applied in the preparation of th8se financial slalemenls are sel out below..
2.2 Income
All income is recognised once the charity has entillemenl lo the incorne, il is probable that the income will be received and
Ihg amount of incorne receivable can b8 measured reliably.
2.3 Expenditurè
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, it is
probable that a transfer of economic benefits will be required in selllement and the amount of the obligation can be
measured reliably. Expenditure is classified by 8Ctivily. The ry)sts of e8ch activity are made up of the tot81 Df direct c05tS
and shared costs, including support costs involved in undertaking each acbvily. Direct costs attributable lo a single activity
are allocated directly lo that aclivity. Shared costs wh￿h contribute lo more than one activity and support costs which are
nc>t attrihlltablp. In a singlA artivity ar8 apportion8d bgtwean Ihnse ac.livitios an a basis c.on4islenl ￿1th the 1190 of
resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion
of the asset's use.
Paoe 10

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Accountlng pollcles Icontlnued)
2.3 Expenditure {¢ontinuedl
Expendi￿re on charitabl8 activities is incurred on dir8Ctly undertaking the activities which further the charitls objectives,
as well as any associated support costs.
Gov9rn8ncg C0515 are th058 i￿Urred in connection with adrninistralion of the chariiy and compliance with constitutional
and statutory requirements.
Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional,
such grants being r8cognis8d as expenditure wh8n the conditions attaching are fulfilled. Grants offered subj8cI to
conditions which have not been mel al the period end are noted as a commitment, bul nol accrued as expenditure.
2.4 Taxatlon
Thg charity is considergd to p855 th8 tests sel out in Paragraph 1 Schgdulg 6 of Ihg Finance Act 2010 and Ih8refore it
meets the defi'nition of a charilable CL)mpany for UK corporation lax purposes. Accordingly, the charity is potentially
exempt from laxalion In respect of Incc*ne or capital gains recelved within calegorle$ covered by Chapter 3 Part 11 of the
Corporation Tax Act 2010 or Section 256 of th& TaxatDn of Chargeable Gains Act 1992. to the exlenl Ihal such Incom8 or
gains are applied exclusively lo charitable purposes.
2.5 Invostm•nts
Fixed asset investments are a foim of financial instrument and are initially recoJni5ed al their tr8nsaclion c05t and
subsequently measured ot fair value al the Balancg Sheet date, unless the valug cannot be measured rgliably in which
Case It is measured al cost less impaimienl. Investment gains and losses, vihelher realised or unrealised, are combined
and presented as 'Gainsl{Lossesl on iDveslmenls' in the Slalemenl of Financial Activities.
The investment held by the charity is its 1 OOYO shareholding in a private limiled company, Adrian Properties Limiled,
Adrian Properties Limited is an investment propety company. The fair value ol the investment in the charity is determined
by laking the u￿lerIyIng valuation of the properties held by the inveslmenl property company less any potential lax and
liquidation costs if those properties were sold.
2.6 D•btors
Trade and other debtors are r8cognised al the settlement amount after any trad8 discount offer8d. Prepayments are
valuod al the amount prgpaid nel ol any trade discounts dug.
2.7 Cash at bank and in hand
Cash al bank and in hand includes cash and short-term highly liquid investments with a short malurily of Ihree months or
less from the dale of acquisilion or opening of the deposit or similar account.
Paoe11

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Accountlng pollcles Icontlnued)
2.8 Liabilities and provisions
Liabilities are recognised when th8re is an obligation at the Balance Sheet da18 as a result of a past 8venl, il is probable
that a transfer of economic beneh'l will be required in seltlemenl, and the amount of the selllement can be eslimaled
reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to sellle the debl or the amounl il has
received as advanced payments for the goods or services it musl provide.
Provisions are measured 8t Ihe best 8Stimale of th8 amounts required lo selue the obligation. Where th8 8ffect of the lim8
value of money is material, th8 provision is based on the present value of those amounls, discounted al th8 pre-tax
discount rat8 that reflects the risk5 SP8cific lo th8 liability, Th8 unwinéing of the discount is r8cognised in the Statement of
Financial Activities as a finance cost.
2.9 Fund accounting
General funds are unreslrlcled ffunds thlch are avallable for use al the discretion of1he Trustees in
furtherance of the general objectives of the charity and which have not been designated for other purposes.
The Endowment fund was created by the gift of shares in Adrian Properties Limiled, Any increase or decrease in the
und8rfying value of Adrian Properties knmiled is r8flect8d in th8 Endowmgnt Fund.
Incom• from donatlons
Unrestrlctgd
funds
10 months
end8d
31 March
2024
Tots
fun
10 mont
ende
31 Marc
202
Donations
153,000
153,000
Unr¥blriLl8d
funds
12 months
end8d
31 May
2023
Tuld
fun
12 mont
ende
31Ma
202
Donations
180,000
180,000
Paoe 12

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Analysis of grants
Grants to
Individuals
10 months
8nd8d
31 March
2024
Tots
fun
10 mont
ende
31 Marc
202
Grants 10 instilullons & individuals
190,258
190,258
Grants to
Individuals
12 months
ended
31 May
2023
Tola
fun¢
12 mont
ende
31Ma
202
Grants to inslilulions & individuals
4,220
4,220
Analysls of expendllure on charltable actlvltles
Summary by fund type
Unreslricled
fiinds
10 months
ended
31 March
2024
Tol..
10 monl
ende
31 Marc
202
Education
194,476
194,476
Unrgslricl8d
funds
12 months
end8d
31 May
2023
Tob.
12 mont
ende
31Ma
202
Edijralinn
8,900
8.900
Paoe 13

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Analysis of expenditure by activities
Grant funding of
activilies
10 months
ended
31 March
2024
Tots
fun
10 mont
ende
31 Marc
202
Support costs
10 months
ended
31 March
2024
Education
190,258
4,218
194,476
Grant funding of
activilie5
12 month
ended
31 May
2023
Tots
fun
12 mont
ende
31Ma
202
Support Costs
12 months
ended
31 May
2023
Educ81iDn
4,220
4,680
8,900
Analysis of support costs
Total
funds
10 months
ended
31 March
2024
Education
10 months
ended
31 March
2024
Governance costs
4,218
4,218
Total
funds
12 month5
8nd8d
31 May
2023
Education
12 month5
gnd8d
31 May
2023
Govemance costs
4,680
4,680
Paoe 14

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Independent Examinerfs rernuneration
10 months
ended
31 March
2024
12 months
ended
31 May
2023
Independent examinal¥)n fee
3,570
3,480
Trusteés. remuneration and èxpènses
The charity has no employees other than the Trustees, who did not r8C8ive any remun8ralion or other benefits12023 - £NILI.
During the period 8nded 31 March 2024, total Truslees incurred gxpenses on behalf of th8 charty amounting lo £52812023
£630).
Durlng the period ended 31 March 2024. the charity reSmbursed A Bery, one of the trustees. for an amount of £13.95 12023
£13,951 for tr8vel expenses. Also during the period Ihe charity reimbursed C Cosler, one of the trustees, for an amount of
£24.2512023 £105.60) for travel expenses for duties as a governor 81 Chrisl's Hospi181,
Flxed asset Investments
Investments in
subsidiary
compani8S
Cost or valuation
Al 1 Jun8 2023
3,200.000
Al 31 March 2024
3,200.000
Net book value
Al 31 March 2024
3,200,000
At 31 May 2023
3,200,000
Paoe 15

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Fixed asset inve5tment5 (continued)
All the Iixed asset investments are held in the UK.
The charity owns the whole of the issued ordinary share capital of Adrian Properties Limited {company number 004291721, a
company registered in England and Wlales.
The acllvity of the company wnllnues to be that of an investment property company. The company itself has a subsldlary,
Martin Prescott Investments Limited, which 15 dormant.
Adrian Proporligs Limilod dogs nol ¢ary oul any Qharilablg aGtiviligs, and thgroforg group a¢counts ar9 not requirgd to bg
prepared.
In the 10 month perfod to 31 hlarch 2024, unaudited profll after lax lor the perlod amounted lo £14,67812023 - £40,434), out of
whlch donalioris of £153,00012023- £180,000) were Awarded lo the charity. 11 Is the intention that the balanc8 of retained profi'ts
will 8venlually bè gift aidèd.
Total shareholders, funds as al 31 March 2024 were £3,571,569 {31 May 2023 - e3,556,8911.
The trustees have eslimaled the fair value of these shares as al 31 March 2024 as £3,200,000131 May 2023 - £3,200,000).
having considered th8 valuation of the underfying nel assets held in Adrian Properties Lirni18d, less any lax and liquidatic￿ costs
if those assets were sold.
10.
Dobtors
31 Marc
2024
31 May
2023
Due within on8 year
Income receivable
153,005
112,486
180,005
112,486
Other debtors
265,491
292,491
11.
Credltors: Amounts lalllng due wlthln one year
31 March
2024
31 May
2023
Accruals and deferred income
10,831
10,250
Included within other credil9rs 15 £7,261 131 May 2023 £6,770} owed lo Ihe Iru5tee5 for gxpenses incurred Dn behalf of the
company.
Paoe 16

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
12. Statement of funds
statement of funds . current period
Balance al 1
June 2D23
Balance al 31
March 2024
Income
Expenditure
Unrestrlcted funds
General Funds- all funds
215,669
153,000
{194,4761
174,193
Endowment funds
Endowment Funds - all funds
3,311,993
3,311,993
Totsl of funds
3,527,662
153,000
1194,4761
3,486,186
Statement of funds . prlor perlod
Balance al
1 June 2D22
Balance at
31 May 2023
Incom8
Expenditure
Unrestricted funds
General Funds- all funds
44.569
180.000
I8.￿0)
215,669
Endowmont fund•
Endowment Funds - all funds
3,311.993
3,311,993
Total of funds
3.356,562
180.000
I8,￿0)
3.527.662
Paoe 17

THE MAURICE UPPERTON FOUNDATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
13. Analysis of net assets between funds
Analysis of net a95ets betsveen funds - current period
Endo¥Ament
funds
31 March
2024
Unrestricted
funds
31 hAarch
2024
Tola
fund
31 Marc
202
Fixed asset inv8stments
3,200,000
3,200.000
Current ass&ls
111,993
185,024
297,017
Creditors due within one year
110,831}
110,8311
Totsl
3,311,993
174,193
3,486,186
Analysis of net assèts betwgen funds . prior pèriod
Endowment
funds
31 May
2023
Unrestricte¢J
fund$
31 May
2023
Tola
fund
31Ma
202
Fixed asset inveslmenis
3,200,000
111,993
3,200,000
337.912
Current assets
225,919
Creditors due wllhin one year
110,250)
{10,2501
Totsl
3,311,993
215,669
3,527,662
14.
Related party Iransattions
The Trustees neither received nor waived any remuneration during the year.
InfDrmalion reagrding the Trusle&s 8xpens8s are disclosed in note 8.
During the year, the charity received donation from Adrian Properties Limited of £153,00012023 - £180,000). The balance due
frorn Adrian Propertie5 Limilgd al th8 year end was £112,486131 May 2023 - £112,486) and is included within olh8r debtors. H
Cogter and F Davies-cosler, who are Ihe trusteeg of the charity are also the directors of Adrian Properties Limited, The amounts
are unsecured, interesl free and repayable on demand,
15.
Controlling party
The charity was under the control of the Trustees during the year.
Paoe 18

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the Companies Act 2006.