DoGusign Envelope ID". EFC98128-98E1448WBEF9-0211EA94D87D
Registered number: 09041095 {England and Wales)
Charity number: 1164583
THE MAX BARNEY FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

Docusign Envelopp ID". EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Company. its Trustees and advisers
Trustees. report
Independent auditor's report on the financial ststements
statement of financial activities
Balance sheet
10- 11
Statement of cash flobvs
12
Notes to the financial Statements

Docusign Envelopp ID". EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MAY 2024
Trustees
A Bard
M H Goldstein
G Phillips
Company registered
numbor
09041095 (England and Wales)
Charity registered
number
1164583
Registered office
168 Shoreditch High Street
London
E16HU
Independent auditor
Cooper Parry Group Limited
69-73 Theobalds Road
London
WC1X 8TA
Principal bankers
Royal Bank of Scotland
Threadneedle Street
London
EC2R 8LA
Page 1

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
{A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MAY 2024
The trustees, who are also directors under company law, present their report and financial ststements for the
year ended 31 May 2024.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of
Association and Accounting and Reporting by Charities.. Statement of Recommended Practice "SORP
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021 effective 1 January 2019.
Objectives and activities
. Objectives and aims
The purposes for which the charity is established are to provide relief for unemployment through vocational
training and job creation and other general charitable activities.
b. Public benefit
The trustees have had regard lo the Charity Commission's guidance on public benefit. The significant activities
undertaken lo further the charity's purposes for the public benefit and hen￿ the details of the issues the charity
seeks to tackle and the changes and differences il seeks to make are included below.
c. Grantmaking policy
The charity achieves its objectives by making grants considered by the Iruslees.
d. Achievement and performance
The charity has continued to bring in significant resources during a difficuyc period and hence have distributed
over £2m to charities in support of ils charitable objectives.
Financial review
a. Flnanclal posltlon
The charity re￿iVed donation income in the year of £1,590,594 12023.. £3,999,643), investment income of
£73,892 12023.. £26,178), and incurred costs of generating funds of £18,964 12023.. £8,532). Governance costs
incurred amounted to £13,434 12023.. £32,727). Governance and support costs are included in the total
charitable expenditure shown in the Statement of Financial Activities "SOFA In the year the grants payable
tolalled £2,360,26012023.' £1,585,952). A breakdown of grants by charitable objective is shown in the notes.
Al 31 May 2024 the charity had net assets of £3,476,88912023'. £4,211,994> in unreslricled funds.
b. Reserves policy
The reserves policy is to hold funds to fulfil future grant making opportunities in support of the charitable
objectives.
e. Future plans
The charity hopes to continue lo expand its reach through grants and donations.
Page 2

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
Structure, governance and management
a. Governing document
The charity is controlled by ils governing document, a deed of trust, and conslitules a limited company, limited by
guarantee, as defined by the Companies Act 2006.
b. Induction and training of new trustees
There are no plans to recruit additional trustees at present.
Once new Iruslees join the board we do not necessarily provide formal training. They are advised of a trustee's
duties and responsibilities as outlined in the Charity Commission website.
C. Structure. governance and management
All of the directors are members of the Company and guarantee lo contribute no more than £1 in the event of a
winding up. The organisation of the charity currently comprises a Board of DirectorslTruslees who meet on
average each quarter to consider and plan grant making and any other matters relating lo the charity. The power
of appointing new trustees is vested in the Board.
Statement of Trustees. responsibilities
The Trustees Iwho are also the directors of the company for the purposes of company lawl are responsible for
preparing the Trustees, report and the financial statements in accordan￿ with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law,
the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair
view of the slate of affairs of the company and of ils incoming resources and application of resources, including
its income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required to..
select suitable accounting policies and then apply them consistently",
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial stalemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain
the Company's transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hen￿ for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Disclosure of infomiation to auditor
In so far as the trustees are aware..
there is no relevant audit information of which the charitsble company's auditor is unaware, and
the Iruslees have taken all steps that they ought to have taken lo make themselves aware of any relevant
audit information and lo establish that the auditor5 are aware of that information.
Page 3

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
{A company limited by guarantee}
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
Auditor
The audit business of Haines Watts London LLP was acquired by Cooper Parry Group Limited on 14 November
2023. Haines Walls London LLP has resigned as auditor and Cooper Parry Group Limited has been appointed in
its pla￿.
The Auditors, Cooper Parry Group Limited, have indicated their willingness to be reappointed for another temi
and appropriate arrangements have been put in place for them to be deemed reappointed as auditors in the
absence of an Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006
relating lo small companies.
Approved by order of the members of the board of Trustees on
Dec-05-2024
and signed on their behalf by..
DoBuStyn•d by..
999602C8A(M32..
Gary Phillips
Trustee
Page 4

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MAX BARNEY FOUNDATION
Opinion
We have audited the financial statements of The Max Barney Foundation (the 'charilable company'l for the year
ended 31 May 2024 which comprise the Statement of financial aclivilies, the Balance sheet, the Statement of
cash flows and the related notes. including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable 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 Awepted Accounting PracliTrl.
In our opinion the financial statements..
give a true and fair view of the state of the charitable company's affairs as al 31 May 2024 and of ils
incoming reSoUr￿S and application of resources. including its income and expenditure for the year then
ended",
have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting
Practs'ce,. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUKII and applicable
law. Our responsibilib'es under those standards are further described in the Auditorts responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilitiès in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concem
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any materi81 uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the ch8ri18ble company's ability to
continue as a going concern for a period of al least twelve months from when the financial st81emenls are
aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concem are described in the
relevant sections of this report.
Page 5

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MAX BARNEY FOUNDATION
ICONTINUEDI
Other infomiation
The Iruslees are responsible for the other information. The other information comprises the information included
in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise
expliciUy stsled in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial stalemenls, our responsibility is lo read the other infomialion and, in
doing so, consider whether the other information is materially Inconsistent with the financial statements or our
knowledge obtained in the audit or othetwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to 8
material misstatement in the financial statements themselves. If. based on the work we have performed, we
conclude that there is a material misslatemenl of this other information, we are required lo report that fact. We
have nothing lo report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities {Accounts and Reports)
Regulations 2008 requires us lo report to you if, in our opinion..
the infomialion given in the Trustees, report is inconsistent in any material respect with the financial
ststemenls., or
sufficient accounting records have not been kept,. or
the financial statements are not in agreement with the accounting records and returns,. or
we have not re￿iVed all the infomialion and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is ne￿SSary lo enable the preparation of financial statements that are free from material
misstalemenl, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability
to continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going
con￿rn basis of accounting unless the Trustees either intend to liquidate the charitable company or lo cease
operations, or have no realistic allernalive bul lo do so.
Page 6

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MAX BARNEY FOUNDATION
ICONTINUEDI
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Audilorfs report that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misslatemenl when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities. including fraud, are instances of nonwcompliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, lo delecl material misstatements in respect of irregularities,
including fraud.
The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below..
We obtained an understanding of the legal and regulatory requirements applicable to the charity and
considered that the most significant are the Charities Act 2011, and UK laxalion legislation.
We obtained an understanding of how the charity complies with these requirements by discussions with
management and those charged with governance.
We assessed the risk of material misstalemenl of the financial statements, including the risk of material
misstatement due to fraud and how it might occur, by holding discussions with management and those charged
with governan￿.
We inquired of management and those charged with governance as to any known instances of non-compliance
or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify instances of
on-compliance with laws and regulations. This included making enquiries of management and those charged
with governance and obtaining additional corroborative eviden￿ as required. As part of an audit in awordance
with ISAS IUKI we exercise professional judgement and maintain professional sceplicism throughout the audit.
Identify and assess the risks of material misstatements of the financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient
and appropriate to provide a basis for our opinion. The risk of not delecling a material misstatement resulting
from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
Obtain an understsnding of intemal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, bul not for the purposes of expressing an opinion on the effectiveness of the
charity's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the trustee.
Conclude on the appropriateness of the Iruslees. use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor's report to the related disclosures in the financial
statements or, If such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit
evidence obtained up lo the date of our auditor's report. However, future events or conditions may cause the
charity to cease lo continue as a going concem.
Page 7

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MAX BARNEY FOUNDATION
ICONTINUEDI
Evaluate the overall prèsentation, structure and content of the financi81 statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that achieve
fair presentation.
We communicate with those charged with governance r￿arding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.
A further description of our respDnsibililies for the audit of the financial statements is located on the Financial
Reporting Council's website al." www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditor's report.
Use of our report
This report is made solely lo the charitable company'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 slate
to the charitable company's trustees those matters we are required lo slate lo them in an Auditor's report and for
no other purpose. To the fullest extent pemiilled by law, we do not accept or assume responsibility to anyone
other than the charitable company and its members, as a body, for our aLJdil work, for this report, or for the
opinions we have formed.
Jane Wills {Senior statutory audilorl
for and on behalf of
Cooper Parry Group Limited
Slatulory Auditor
69-73 Theobalds Road
London
VVC1X 8TA
Dale".
1111212024
Cooper Parry Group Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 8

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MAY 2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
1,590,594
3,999,643
Investments
73,892
26,178
Total income
Expenditure on:
1664 486
4 025 821
Charitable activities
2,365,115
1,623,794
other
32,398
41,259
Total expenditure
2397513
1 665 053
Net lexpenditurellincome before net losses on
investments
1733,0271
2,360,768
Net losses on investments
12,0781
15,7681
Net movement In funds
Reconciliation of funds-
Total funds brought forward
4.211,994
1,856,994
Net movement in funds
1735,1051
2,355,000
Total unrestricted funds carried fonvard
The Statement of financial activities includes all gains and losses recognised in the year.
Page g

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
BALANCE SHEET
AS AT 31 MAY 2024
2024
2023
Note
Fixed assets
Investments
10
16,998
19,076
16,998
19,076
Current assets
Debtors
Cash al bank and in hand
11
949,406
2,617,420
1,274,003
3,088,116
3,566,826
4,362,119
Creditors.. amounts falling due within one year 12
1106,9351
1169,2011
Net current assets
3,459,891
4,192,918
Total net assets
3,476,889
4,211,994
Charity funds
Unrestricted funds
13
3,476,889
4,211,994
Totsl funds
3,476,889
4,211,994
The entity was entitled to exempts'on from audit under section 477 of the Companies Act 2006.
The members have not required the entity lo obtsin an audit for the year in question in accordance with section
476 ofthe Companies Act 2006.
However, an audit is reqUI￿d in 8ecord8nce with section 144 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for
lal ensuring that the charitable company keeps accounb'ng records that comply with Sections 386 and 387 of
the Companies Act 2006 and
Ibl preparing financial statements which give 8 true and fair view of the slate of affairs of the charitable company
as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act
2006 relating to financial stalemenls, so far as applicable lo the charitable company.
Page 10

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
BALANCE SHEET ICONTINUED)
AS AT 31 MAY 2024
The financial statements have been prepared in aceordanee with the provisions applicable lo entities subject to
the small companies regime.
Dec-05-2024
The financial statements were approved and authorised for issue by the Trustees on
and signed on their behalf by..
Do¢uSWd by..
&19￿￿2cB￿N32.
Gary Phillips
TrLJStee
Page11

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
2024
2023
Note
Cash flows from operating activities
Net cash used in operating activities
14
1347,3871
1,874,445
Cash flows from investing activities
Purchase of fixed asset investments
119,0761
Sale of fixed asset investments
19,076
Provision of finance
1197,2011 1335,3021
Interest received
73,892
26,178
Net cash used in investing activities
1123,3091 1309,1241
Change in cash and cash equivalents in the year
1470,6961
1,565,321
Cash and cash equivalents al the b￿InnIng of the year
3,088,116
1,522,795
Cash and cash equivalents at the end of the year
15
Page 12

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
{A company limited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102,
have been prepared in accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by
Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 leffeclive 1 January 2019),, Financial Reporting Stsndard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The finsncial ststemenls
have been prepared under the historical cost convention, with the exception of investments which are
included al market value, as modified by the revaluation of certain assets.
1.2 Summary of slgnlflcant accountlng pollcles and key accountlng estlmates
The principal accounting policies applied in the preparation of these financial statements are sel out
below.These policies have been consislenlly applied to all the years presented, unless otherwise
stated.
1.3 Crltlcal accountlng Judgements and key sources of estlmatlon uncertalnty
In the application of the accounting policies, the Iruslees are required lo make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from
other sources.
The estimates and assumpts'ons are based on experience and other factors that are considered to be
levant. As such actual results may differ from these estimates which are reviewed on an ongoing
basis and recognised when appropriate.
The critical judgement that the trustees have made in the process of applying the charity's accounting
policies that have the most significant effect on the amounts recognised in the stalulory financial
statements are discussed below..
Assessin
indicators and im
aimient
In assessing whether there have been any indicators or impairment of assets, the trustees have
considered both external and internal sources of information such as market conditions, counterparty
credit ratings and experience or recoverability. There have been no indicators of impairments
identified during the current financial year.
Ke
sources of ests'malion uncertainl
Due to the slraighl fonNard nature of the charity's activities, the trustees do not believe that there are
any estimation uncertainty's that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial year.
1A Income
All income is recognised On￿ the Company has entitlement lo the income, il is probable that the
income will be received and the amount of income receivable can be measured reliably.
Page 13

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
{A company limited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Accounting policies Icontinuedl
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation
ommitting the charity to that expenditure. it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related lo the cat￿Ory. Where costs cannot be directly attributed to particular headings they have
been allocated to activities on a basis consislenl with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a
commitment but not accrued as expenditure.
1.6 Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those costs of an indirect nature necessary lo support them.
1.7 Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory
requirements, including audit, strategic management and trustee's meetings and reimbursed
expenses.
1.8 Taxation
The charity is exempt from corporation lax on its charitsble activities.
1.9 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
Iruslees.
Reslricled funds can only be used for particular restricted purposes within the objects of the charity.
Reslriclions arise when specified by the donor or when funds are raised for particular restricted
purposes.
At the current lime the charity does not operate any restricted funds.
1.10 Foreign currencies
Assets and liabilities in foreign currencies are translated into sleding at the rates of exchange ruling
at the balance sheet date. Transactions in foreign currencies are translated into sterling al the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.
1.11 Donations
Donations are recognised when the charity has been notified in writing of both the amount and
settlement date. In the event that a donation is subject to conditions that require a level of
performance by the charity before the charity is entitled lo the funds, the Income is deferred and not
recognised until either those conditions are fully met, or the fulfilmenl of those conditions Is wholly
within the control of the charity and It Is probable that these conditions will be fulfilled in the reporting
period.
Page 14

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Accounting policies Icontinuedl
1.12 Cash and cash equivalents
Cash and cash eqLJivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible lo a known amount of cash and are subject lo an
insignificant risk of change in value.
1.13 Debtors
Debtors are recognised at their recoverable amoLJnts at the balance sheet date.
1.14 Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
ourse of business from suppliers. Accounts payable are classified as current liabilities if the charity
does not have an unconditional right, at the end of the reporting period, to defer settlement of the
reditor for at least ￿e1ve months after the reporting date. If there is an unconditional right to defer
settlement for at least ￿e1ve months after the reporting dale, they are presented as non-currenl
Trade creditors are recognised initially at the transaction price and subsequenlly measured at
amortised cost.
1.15 Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in
furtherance of the objectives of the charity.
1.16 Financial instruments
All financial assets and liabilities are initially measured al transaction price (including transaction
ostsl. except for those financial assets classified as at fair value through profit or loss, which are
inib.ally measured al fair value which is normally the transaction price excluding transaction costs),
unless the arrangement constitutes a financing Iransaclion. If an arrangement Constitutes a financing
Iransa¢lion, the financial asset or financial liability is measured at the present value of the future
payments discounted al a market rate of Interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only
when there exists a legally enforceable right to sel off the recognised amounts and the charity intends
either lo setde on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when al the contractual rights to the cash flows
from the financial asset expire or are settled, bl the charity transfers to another paty substantially all
of the risks and rewards of ownership of the financial asset, or cl the charity, despite having retained
some, bul not all, significant risks and rewards of ownership, has transferred control of the asset to
another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
ancelled or expires. Conlraclual provisions that permit the issuer to prepay a debt instrument or
permit the holder to put il back to the issuer before maturity are not contingent on future events. other
than lo protect the holder against the credit deterior8tion of the issuer or a change In control of the
issuer. or to protect the holder or issuer against changes in levies applied by a ￿ntral bank or arising
from changes in relevant laxalion or law.
Investments held in listed entities are initially recognised at cost and then revalued at fair value based
on open market values at each reporting period end.
Page 15

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Accounting policies {continuedl
1.17 Going concem
The Iruslees have considered the appropriateness of adopting the going concern basis in preparing
the financial statements for the year ended 31 May 2024.
The trustees have, at the time of approving the financial stalemenls, a reasonable expectation that
the company has adequate resources lo continue in opèmtional existence for the foreseeable
future, and therefore, they continue to adopt the going concern basis of accounting in the financial
statements.
Income from donatlons and legacles
Total
funds
2024
Total
funds
2023
Donations
1,272,475
3,199,715
Gift aid
318,119
799,928
Investment income
Total
funds
2024
Total
funds
2023
Interest re￿iVed
Grants payable
Total
funds
2024
Total
funds
2023
Relief of unemployment through vocational training
2,040,729
1,221,883
Relief of unemployment through job creation
202,016
283,785
General charitsble causes
117,515
80,284
Page 16

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Grants payable {continued)
All significant grants payable were made lo inslitulions. Material grants payable to institutions during the
period are as follows..
2024
2023
Name of institution
American Jewish Joint Distribution Committee IUKI Trust
Friends of the Batzilair Medical Cenler Inc
Laniado Hospital
The Work Avenue Foundation
Ariel University
Health Corporation of the Tel Aviv Medical Centre
Friends of Bnai Zion Medical Cenler
Friends of Sheba Medical Center Tel Hashomer
The Shamir Friends Associats'on
546,941
264,829
186,653
100,000
86,335
293,854
60,801
327,234
186,114
219,151
170,488
166,726
100,000
38,248
95,138
39,521
2,052,761
829,272
Other grants to institutions
307,499
756,680
2,360,260
1,585,952
Charitable activities costs
Grant
funding of
activities
2024
Total
funds
2024
Dirgct costs
2024
Relief of unemployment through vocational
training
Relief of unemployment through job creation
General charitable causes
2,040,729
202,016
117,515
2,040,729
202,016
122,370
4,855
4,855
2,360,280
2,365,115
Page 17

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
othor expenditure
Governance
costs
2024
Total
fund$
2024
Management
2024
Other reSoU￿S expended
18,964
13,434
32,398
18 964
13,434
Net incomellexpenditure)
Net incomel{expenditurel is stsled after chargingllcreditingl..
2024
2023
Auditors, remuneration
Trustees. remuneration and benefits
Other than trustee's expenses paid there were no trustees, remuneration or other benefits for the year
ended 31 May 2024 nor for the year ended 31 May 2023.
Trustees. expenses
During the year a Iruslee incurred expenses of £8,72012023." £3,288) earrying out activities in support of
the charity.
There were no other Iruslees. expenses paid for the year ended 31 May 2024 and no other trustees,
expenses for the year ended 31 May 2023.
Staff costs
There were no staff costs for the year ended 31 May 2024 nor for the year ended 31 May 2023.
The average monthly number of employees during the year was NIL12023- NIL).
No employees received emoluments in excess of £60,000.
Page 18

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
{A company limited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
10.
Fixed asset investments
Unlisted
investments
Cost or valuation
Al 1 June 2023
Revaluations
19,076
12,0781
Al 31 May 2024
16,998
Net book value
Al 31 May 2024
16,998
Al 31 May 2023
19,076
There were no investment assets outside the UK.
11. Debtors
2024
2023
Due within one year
Other debtors
307,036
642,370
828,834
445, 169
Amounts recoverable on contract
949,406
1,274,003
The amounts recoverable on contract relate lo financing extended lo institutions that undertake
activities in line with the charity's charitable objectives. Repayment of the receivable is expected to
be fully repaid by August 2030.
Page 19

Docusign Envelopp ID". EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
12.
Creditors: Amounts falling due within one year
2024
2023
Other creditors
Accruals and deferred income
88,375
18,560
160,075
9,126
106,935
169,201
13. Statement of funds
Statement of funds - current year
Balance at 1
June 2023
Galnsl Balance at
(Losses) 31 May 2024
Income Expendlture
Unrestricted funds
General fund
4,211,994
1,664,486 12,397,513)
12,0781
3,476,889
Statement of funds - prior year
Balance at
1 June 2022
Gainsl Balance at
(Losses) 31 May 2023
Income Expenditure
Unrestrlcted funds
General Funds
1,856,994
4,025,821
11,665,053)
15,7681 4,211,994
Page 20

Docusign Envelopp ID." EFC98128-98E1448WBEF9-0211EA94D87D
THE MAX BARNEY FOUNDATION
{A company limited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
14.
Reconciliation of net movement in funds to net cash flow from operating activitie$
2024
2023
Net incomelexpendilure for the period las per Statement of Financial
Activiliesl
1735,1051 2,355,000
Adjustments for:
Losses on investments
Interest received
Decreasellincreasel in debtors
Increaselldecreasel in creditors
2,078
173,8921
521,798
162,2661
5,768
126, 1781
1619,5541
159,409
Net cash provided byllused in) operating activities
1347,3871
1,874,445
15. Analysis of cash and cash equivalents
2024
2023
Cash at bank and in hand
2,617,420
3,088, 11 S
Total cash and cash equivalents
2,617,420
3,088,116
16. Analysis of changes in net funds
At 1 June
2023 Cash flows
At 31 May
2024
Cash at bank and in hand
3,088,116
1470,6961 2,617,420
3,088,116
1470,6961 2,617,420
17. Related party disclosures
Donations amounting to £256,05012023'. £73,826) received in the year were from trustees.
During the year the foundation made a donation of £14,500 12023.. £20,500) lo the London School of
Jewish Studies which is a related paty through Gary Phillips and £17,000 12023.. £10,000> lo United
Synagogue which is a related paty through Michael Goldstein.
Page 21