## ## ## |**Contents Pages**|| |---|---| |Legal and administrative information|2| |Report of the Trustees|3-9| |Independent Examination report|10| |Statement of Financial Activities (including income and expenditure account)|11| |Balance sheet|12| |Cash flow statement|13| |Notes to the financial statements|14-20| |Income and expenditure account|21| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |**Risk category**|**Principal risks**|**Mitigation strategies and controls**| |---|---|---| |||Risk remains relevant but given that Mace Foundation| |**Governance -**
including
communications,
reputation,
safeguarding and
public
engagement|Of the 11 current trustees, 10
are Mace employees and 1 is
connected person to Mace
Group board directors. Difficult
to demonstrate independence
to Charity Commission.|exists to manage Mace's charitable giving, it is
accepted that the trustees are not and will not be
independent.
Trustees are given sufficient training and support to
ensure that they act independently of the interests of
Mace Group. Donation and process for match funding
requests must demonstrate that they do not cause a| |||conflict of interest.| ||Identified a health & wellbeing|| ||trust for indigenous women|The Foundation will be traded marked in UKwith| |**Governance -**
trademark|and their children in the US
also called 'The Mace
Foundation'. The American|Legal monitoring if another company globally is to
start trade under the same name. Annual review of
the possibility to expand the trademarking to cover| ||charity is not trade marked.|other countries.| ## |||Mace Foundation has undergone a full GDPR review| |---|---|---| |**Operational -**
including data
protection and
cyber risks|Cyber risks consist malicious
attacks, accidental data loss
or misuse and physical system
failures.|and we maintain a record of processing activities that
will be reviewed yearly by the Mace GDPR
compliance team.
Mace Foundation benefits from the protections put in
place by Mace Limited and holds minimal information| |||about individuals as it works through its partners.| ||Economic environment:|| |**Financial -**
including
fundraising
income from|increase in inflation and cost
of living has impacted on
people's ability to give for the
charities.|Maintain sufficient reserves to achieve its strategic
objectives and maintain its operations.| |individual givers,||Mace Limited have committed publicly to an annual| |events and||donation by letter of comfort, which will be either| |corporates and|Dependency on limited source|£300,000 or a sum equal to 1 % of the budgeted pre­| |financial|of income.|tax profits for the financial year.| |sustainability||We are increasing other fundraising activities to| |||reduce the reliance of funding on Mace Limited.| |||Policy is to evaluate all international requests on a| |||case-by-case basis and can only donate/fund to an| |||established charity. International match funding| |||requests - applicants to provide key data about| |||beneficiaries where necessary and due diligence is| |||carried out on all charities. Donation will only be made| |||via established fundraising platform (i.e. JustGiving),| |||official website or verified bank account.| |||Grant giving requests - we only accept applications| |**Financial -**
including fraud
and compliance|International fraud / misuse of
funds|from charities who have already established a working
relationship with Mace people. Enhanced due
diligence with proof of latest bank statement to be| |||provided. All requests are subject to trustees approval| |||and impact report to be provided after 12 months| |||drawdown of funds.| |||We never work in countries that are subject to| |||sanctions or embargoes which are issued by UN or| |||countries identified by credible sources who are high| |||in risk.| |||Anti Money Laundering Policy & Procedures is in| |||place and to be applied where applicable.| ## ## ## ## ## ## ## Mimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2023 Company law requires the Trustees to prepare financial ststements for each finarKial year. which give a true and fair view of the state of affaits and incorre and expenditure of the charitable company for that ttriorl. In Preparing these financial statements the Trustees are required to: select suitable accounting Fo1￿leS and then appty them consislenliy" obsefve the methods and prsnciples in the ChariiEs SORP" make judgments and accounting estimates thal ate reasonable and prudent state whether applK3ble UKAccounting StaThlards have been followed. subiecl to any mteTtal dep2rtures disclosed and explained in the financial statements., and prepare the financial statements on the going con￿rn basis Unl￿ il Is inappropriate to presume that the charitable company will (x>ntinue in bus1r￿ss. TheTrust*s are reswnsible for maintaining proFer accounting recordswhich disc]ose*ryth reasonable accuracy al any time the financial position of the chatitsble company and enable them to ensure that the financial slatements comply with the compan￿ Act 20[￿. They are also responsible foi saleguarding the assets ot the charitable company and he￿￿ for taking reasonable steps for the prevenkn.on and detection of fraud and other irregulwitie& The ￿￿IntenanCe and integrity of the charity's website is the responsibility of the Trustees. Legislation in the United Kingdom governing the preparation and dissem￿￿0￿ of financial statements may differ from legislations in other jtjrisd￿tIon$. This report has been prepared wi &cordance Tmth the StalerrEnt of Recommended Practice." Accounting and Reporting by Charities preparing their a(tnunts in &cordance with the Financial RepoTbng Standard applicable in the UK and Republic of Ireland IFRS 102) and the Financial Reportir¥J Stsndard applicable in the United Ktngdom and RepU￿1C of Ireland IFRS 102) and the ChaTities Act 2011. In preparing the trustees. report a￿all￿ge has been taken ofthe Small company's exemplK?n. Appnwed by Ihe Trustees on 27 J ..2024 and sijned on Iheir ￿ha]I by: Mark Reynolds Chairnian Not Confidential- Internal 12 July 2024 ## ||_Notes_|**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---|---| |||**funds**|**funds**|**funds**|**funds**|**funds**|**funds**| |||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| |||**£**|**£**|**£**|**£**|**£**|**£**| |**Income:**|||||||| |Donations and legacies|_3_|663,998|17,786|681,784|571,375|140,010|711,385| |**Total income**||**663,998**|**17,786**|**681,784**|**571,375**|**140,010**|**711,385**| |**Expenditure:**|||||||| |_Costs of raising funds_|||||||| |Fundraising costs|_4_|75,132||75,132|35,971||35,971| |_Expenditure on charitable _|_activities_||||||| |Donations payable|5|616,276|17,786|634,062|484,878|140,010|624,888| |**Total expenditure**||**691,408**|**17,786**|**709,194**|**520,849**|**140,010**|**660,859**| |**Net income**||**(27,410)**|**-**|**(27,410)**|**50,526**|**-**|**50,526**| |**Net movement in funds**|||||||| |Funds brought forward|_11/12_|**141,722**|**-**|**141,722**|**91,196**||**91,196**| |**Funds carried forward**||**114,312**|**-**|**114,312**|**141,722**|**-**|**141,722**| mace foundation ANNUAL. REPORT AND ACCOUNTS 31 DECEMBER 2023 Balance sheol at 31 December 2023 Notes 2023 2022 Current Assets: Debtors Cash al bank and in hand 57.383 120.574 177.957 63,715 142,105 205.820 Liabilttles: Creditors.. Amounts falling due wtthin one year 63.645 64.098 Total net assets 10 114312 The funds of the charity: Unrestricted funds Reslricted ineome furKIs 12 114.312 141.722 114.312 141.722 The Trustees {directorsl are satisfied that the company is enliw to exemption from the provisions of the Companies Act 2tM)6 (the Act) relating to the aLKlit of the financial statements for the period by virtue of Section 477, and that no member or rne￿be￿ have requested an audit pursuant to Section 476 of the Act These financial statements have been prepared in a￿dan￿ with the provisions available to coMpan￿S subject to the Sm￿1 companies. regime within Part 15 ofthe Companies Act 20C6. The twstees ¥kntThviedge theFr responsibilty for. ensuring that the company keeps adeqLHte accounling reLrJrds whtch CoM￿Y wtth Section 386 of the Ac( and {ii) preparing financial statements whth give a true and fair vtew of the state of affairs of the company as al the end of the financial pericxj and of tts surplus or defictt for the financial period in accordance with the reqLFiren*nts of sectKJns 394 and 395 and which otherwise comply wth the requirements of the Companies Act relating to finaTrial statements. so far as applicable to the company. These financial statements were approved by the trustees and aulticK￿l for issue on .... and are s￿ned on their by: )l Jw.. 2024 Mark Reynolds Chairman The notes on pages 14 to 20 fomi part of these financi￿ statements. Company Number. 08144743 Not Confiderti81- Internal ## |**Statement of Cash Flows for the year ended 31**|**December 2023**||| |---|---|---|---| ||_Notes_|**2023**|**2022**| |||**£**|**£**| |Net cash (used in)/from operating activities|_15_|**(21,531)**|(46,661)| |Cash flows from investing activities|||| |Cash flows from financing activities|||| |**Change in cash in the year**||**(21,531)**|(46,661)| |Cash at the beginning of the year||**142,105**|188,766| |**Cash at the end of the year**||**120,574**|142,105| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |**3. Donations and legacie**|**s**||||||| |---|---|---|---|---|---|---|---| |||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |||**funds**|**funds**|**funds**|**funds**|**funds**|**funds**| |||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| |||**£**|**£**|**£**|**£**|**£**|**£**| |Mace Limited donations||499,803|-|499,803|210,500|-|210,500| |Mace Limited employee and
affiliate fundraising||164,195|17,786|181,981|360,875|140,010|500,885| |Other donations||-|-|-|-|-|-| |||**663,998**|**17,786**|**681,784**|**571,375**|**140,010**|**711,385**| |**4. Fundraising costs**|||||||| ||_Notes_|**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |||**Funds**|**funds**|**funds**|**Funds**|**funds**|**funds**| |||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| |||**£**|**£**|**£**|**£**|**£**|**£**| |Direct fundraising costs||10,045||10,045|8,782||8,782| |Support and governance|7|65,087|-|65,087|27,189|-|27,189| |||**75,132**|-|**75,132**|**35,971**|-|**35,971**| |**_5._ Charitable activities**|||||||| ||_Notes_|**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |||**Funds**|**funds**|**funds**|**Funds**|**funds**|**funds**| |||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| |||**£**|**_£_**|**£**|**£**|**£**|**£**| |Grants to strategic charity
partners|_6_|60,000|**_-_**|60,000|130,000|-|130,000| |Grant giving programmes||221,143|**_-_**|221,143|-|-|-| |Donations to charities||14,990|17,786|32,776|102,698|140,010|242,708| |Match funding donations to|||||||| |charities||208,129||208,129|148,127|-|148,127| |Total donations||504,262|17,786|522,048|380,825|140,010|520,835| |Support and governance|7|112,014|-|112,014|104,053|-|104,053| |||**616,276**|**17,786**|**634,062**|**484,878**|**140,010**|**624,888**| ## ## ## |100% of the grants and donations were to institutio
the strategic charity partners.|ns. The table below shows details of|the grants to| |---|---|---| ||**2023**|**2022**| ||**_£ _**|**_£_**| |**Proactive partnerships**||| |Mind|-|55,000| |St Mungo’s|60,000|55,000| |Dubai Cares|-|20,000| |**Total grants**|60,000|130,000| ## ||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**|**funds**|**funds**|**funds**|**funds**| ||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| ||**£**|**£**|**£**|**£**|**£**|**_£_**| |Staff costs|167,786|**-**|167,786|122,188|**-**|122,188| |Insurance|2,470|**-**|2,470|2,110|**-**|2,110| |Bank charges|250|**-**|250|284|**-**|284| |Non-recoverable VAT|337||337|404|**-**|404| |Other costs|737|**-**|737|2,856|**-**|2,856| |Governance costs|5,521|**-**|5,521|3,400|**-**|3,400| ||**177,101**|**-**|**177,101**|**131,242**|**-**|**131,242**| |Split:||||||| |Fundraising costs|65,087|**-**|65,087|27,189|**-**|27,189| |(note 4)||||||| |Charitable activities|112,014|**-**|112,014|104,053|**-**|104,053| |(note 5)||||||| ||**177,101**|**-**|**177,101**|**131,242**|**-**|**131,242**| ## ## ## ## |**btors**||| |---|---|---| ||**2023**|**2022**| ||**£**|**£**| |Accrued income|**-**|2,500| |Mace Limited|57,383|61,215| ||**57,383**|**63,715**| |**editors: amounts falling due within one year**||| ||**2023**|**2022**| ||**£**|**£**| |Credit card|9,585|17,641| |Audit and accountancy|3,564|3,400| |Mace Limited|**-**|**-**| |Unpaid charitable donations|50,496|43,057| ||**63,645**|**64,098**| ## ## ||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**|**funds**|**funds**|**funds**|**funds**| ||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Current assets|177,957|**-**|177,957|205,820|**-**|205,820| |Current liabilities|(63,645)|**-**|(63,645)|(64,098)|**-**|(64,098)| ||**114,312**|**-**|**114,312**|**141,722**|**-**|**141,722**| ## ## |**Restricted funds - 2023**||||| |---|---|---|---|---| ||**Balance at**
**1 January 2023**|**Income**|**Expenditure**|**Balance at**
**31 December**
**2023**| ||**£**|**£**|**£**|**£**| |Mace Limited Donations||17,786|17,786|**-**| |**Total restricted funds**||**17,786**|**17,786**|**-**| |**Restricted funds - 2022**||||| ||**Balance at**
**1 January 2022**|**Income**|**Expenditure**|**Balance at**
**31 December**
**2022**| |---|---|---|---|---| ||**£**|**£**|**_£_**|**£**| |Mace Limited Donations||140,010|(140,010)|**-**| |**Total restricted funds**||**140,010**|(140,010)|**-**| ## |**Unrestricted funds - 20**|**23**||||| |---|---|---|---|---|---| ||||||**Balance at**| |||**Balance at**|||**31 December**| ||**1 **|**January 2023**|**Income **|**Expenditure**|**2023**| |||**£**|**£**|**£**|**£**| |**General Fund**||**141,722**|**663,998**|**(691,408)**|**114,312**| ## |**Unrestricted funds - 2**|**022**||||| |---|---|---|---|---|---| ||||||**Balance at**| |||**Balance at**|||**31 December**| ||**1 **|**January 2022**|**Income**|**Expenditure**|**2022**| |||**£**|**£**|**£**|**£**| |**General Fund**||**91,196**|**571,375**|**(520,849)**|**141,722**| ## ## ## ||**2023**|**2022**| |---|---|---| ||£|£| |Net movement in funds|(27,410)|50,526| |(lncrease)/decrease in debtors|6,332|(63,715)| |(Decreasej/increase in creditors|(453)|(33,472)| |**Net (used in)/cash from operating activities**|(21,531)|(46,661)| ## ||**2023**|**2023**|**2022**|**2022**| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |**Income**||681,784||711,385| |**Deduct: Expenditure**||||| |Charitable donations|522,048||(520,835)|| |Staff costs|167,786||(122,188)|| |Legal, professional and governance|3,560||(3,400)|| |Non-recoverable VAT|337||(404)|| |Financial|250||(284)|| |Fundraising|10,045||(8,782)|| |Other expenditure|5,168||(4,966)|| |||709,194||(660,859)| |**Net surplus**||(27,410)||50,526| |**Legal, professional and governance**||||| |Independent examination charges||(3,560)||(3,400)| |**Financial**||||| |Bank charges and interest||(250)||(284)|