R•gist•r•d numbgr. 09041095 (England and Wal•sl Charity numbor: 1164583 THE MAX BARNEY FOUNDATION (A Company Ilmited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
THE MAX BARNEY FOUNDATION IA company limited by guarant•8) CONTENTS Page Reference and admlnlytrativo d•tall8 of the Company? its Tru$tse8 and ad¥lser• Trustees, report Indopèndont audiior's rnport on th• financial statornonts 5tatsm•nt of financial activities Balance sheet 10 ststement ot cash flow¥ Notes to the financial statements 12-20
THE MAX BARNEY FOUNDATION (A company limlted by guararrt881 REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2025 Trustees A Bard M H Goldsteln G PhlipS Company rogistgrgd number 09041095 (England and Wales) Charlty r•gigtsr numbor 1184583 Registorod offlea 168 ShOditch High Street London E1 6HU Independ•nt auditor Cooper Parry Group Limited Sky View Argosy Road East Midlands Airport Castle Cknnlngton Derby DE74 2SA Prlncipal bank•r8 Royal Bank of Scdand Threadneedle Street London EC2R 8LA Page 1
THE MAX BARNEY FOUNDATION IA company limited by guaranteg) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MAY 2025 The trustees, who are aL80 dIreOr8 under company law, present thair r8POrt and financlal statements for the year ended 31 May 2025. The financial statsmenls 0)mply with the Charili8s Act 2011, the Cornpanies Act 2006, th8 Arbcles of A$SlatIOn and Accounting and Ren9 by Chanties.. St8t8menl of Rècomm8nded Pra1¢9 'SORP" applicable lo charities preparing their acrajunts in accordance with the Flnancial Reporting Stsndard applicable in the UK and Rewblic of Ireland IFRS 1021 effective 1 January 2019. ObJ¢ctlv•s activltles . ObJedlve8 and alms Th& purpose5 for which tho charity is 8stablished are to provide relief for Unem0YMent through vocational training and lob creation and othar general dribIe aclivili8s. b. Publle b•naflt The trustees hav8 had regard to the Charity Cornmission's guidancè on public benefit. The significant activities undertaken to further the chariws purposès for Ihe public benellt and hence the det8118 of the issues the tharity seeks lo tackle and the changes and differen It seeks to make are included below. Grantmaking poll¢y The charity achievgs its otyeclives by maknng grants considered by the trustees. d. Achlev•m•nt and perfornian¢e Tha charty has wnllnued to bring in significant resourc&s during a drfficult period and hwce have distributed over £2m to tharilies in support of its £*aritable obj8ctsv8S. Financlal rovlow a. Flnancial position The charity recelved rjonalion inL>)m8 in the year of £800,22012024.. £1,590,594}, investmenl income of £34.286 {2024.. £73.8921, and Inrred costs of generating funds of £13,57712024". £18.9641. Govemanc8 costs incutred amounted lo £14.555 12024.. £13,434). Govemance and support costs are induded in the total charitatAe expenditure shown in the Statement of Finanryal Activities "SOFA.. In the year the grants payable totslled £2.187,66612024'. £2.360.2601. A breakdown of grants by charrtabl8 objedive is shown In the notes. At 31 May 2025 th8 charity had nel assets of £2,096.48612024.' £3.476,8891 In unrestitled funds. b. R•8orve8 pollcy The reserv8s policy is to hold fiJnds lo fulfil future grant m8king opportunmles In support of charitable oilectlves. c. Futuro plans The chartty hopes to ¢x)ntinue to expand its reach through grants and donation5. Page 2
THE MAX BARNEY FOUNDATION IA company 11mlt by guarantea) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MAY 2025 Stru¢tUrn. govemanc• and manag•m8nt . Gowrnlng document The charity is ojnlrollad by its goveming document. a dggd of trust, and constitutes & Ilmited company. lirnited by guarante8. as defined by the Companies Act 2006. Ik Inductlon and tralnlng of new trustees There are no plans lo recxuit 8ddilicffial trustees at present. Once new trustees join the tx)ard we do not necessarfly provKle forni81 training. They are advised of a trustaa's dulles and reSnsIbIlitieS 8$ tsJ1ned in tha Charity Commbssion website. e. Structure, gDvomance and managwnont All of the dir8ciors 8r8 members of the company and guarantee to contdbute no more than £1 in the event of a windirwJ up. The organisation of the charity wrrenuy comprises a Board of Directorstfnjstees who meet on average aach quarter to consider and plan grant making and any other matters relating to the charity- Tha power of appoinlng new trustees is vestad in th8 Board. stst•mont of Trustees. r•spon$ibili11o1 The Trust8es (who are also the directors of th8 Company for the purposes of comp8ny18wI are responsible for preparing lh8 Trustees, report and the financial statements in accord8nte with applicable law and United Kingdom Accounting Stsndards (United Kingdom G8nar81ty Accep18d Accounting Pr8Ct%cel. Company law requires the Trustges io prepare financial statements for each financial . Under company L3w, Ihe Trustees must not 4pprove the financial ststements unless they are satisfièd that they give a true and fair view of the stale of affairs of the Company and of its incoming resources and application of resources. including its income and expenditure, thal period. In preparing these finan¢i81 statements, the Trustee5 are required to.. select suitable aceounting policies and then apply them consistently. obsèrve Ihe methods and principles ofthe Charities SORP IFRS 1021., make iudgments and accounting 8Stimale5 that are reasonatAe and prudent,. stale whether apIcabl UK Accounting Standards IFRS 1021 have been followed, subj8cl to any material departuras doSed and explalned in the financial stslements., prepare Ihe financlal stalèrnents on the goirw concom bas15 unless it is Inappropriate to prnsume that the Company wll continue in busines5. The Trusle8s are responsible for keeping adequate accounting records that are sufficient tr) show and explain the Companws Iransa¢lions and disclose wth reasonabl8 a(*uracy at any time the financial posil'on of th8 Company and enatle thom to ensure that the financial statements comply with the Companies Acl 2CKJ6. They are also responsible for safeguarillng the assets of the Company and he8 for taking reasonable stèps for the preventbon and detection of fraud and other irregularfUes. 018Glo8ure of inforniatlon to auditor In so far a$ the Iruslees are awarg.. there 18 no relevant audil infom)alion of which the charitabl8 companrfs aL110r is un8ware. and the trustees have t8ken all steps ihal they ought to have taken lo maka themselves oware of any rdevanl oudil information and to establish that the auditor5 are aware of that inform8ti0n. Pagg 3
THE MAX 8ARNEY FOUNDATION IA company limlted by guarantsel TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MAY 2025 Auditgr The auditor, Cooper Parry Group Limited. has indicated their willingnass lo continue in Offi and thelr r8appoinlrnenl wll be proposed at the fOrthming Annual General Meab"ng. Approved by ordgr of the memb8rs of the board of Trustees and signed on thair half by.. GPh Trustee Date.. Il lo &> Pag8 4
THE MAX BARNEY FOUNDATION (A company Ilmit•d by guarants•) INDEPENDENT AUDITOR'S REPORT TO THE ME•ABERS OF THE MAX BARNEY FOUNDATION Opinion We have audited the financial statements of The Max 8amey Foundation Ithe'chariiable companll for the y8ar ended 31 May 2025 which comprisè the Stalèmèftl of financial activities. the Balance sheet, the Statement of Cash flows and the rdatad notes. induding 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 R8Ptsrting Standard 102 'The Flnancial Reportlng Stand&r<J 8pplicabla in the UK arKI Rowbllc of Irdand, (United Kingdom Generally ArLepted kcounling Practical. In our opinion the financial Statements: give a true aThJ fair Mew of the stale of the charitable companrfs affairs as at 31 May 2025 and ol tL% incoming resources and application of r0sourc6s, includirrfJ its income and expenditur8 for th8 year then anded.. have been properfy ppared in accord8nce wrth United Kingdom Generally Accepted A¢Munling Practice; and have been pPared in accordance wth the requirements ofthe Companles Act 2006. 8asis for oplnlon We conducted our audit in accordanc8 with Inlernatk)nal Slandards on Auditing IUKI IISAS IUKII and applicablé law. Our re5ponsitilliues under those standards are further dèscribed in the Auditorfs responsibilities for the audit of the financial statements section of ¢yJr report. We are indepèndent of th8 tharilaNg company in aCranl wllh the ethitAI requirèm8nts that are relevant lo our audit of the financkil statèments in the United Kingdom, including the Financial Reporh"rrfJ Counol's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Wa btrIe that the audil QVKlence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conduslons relallng to gèing ¢oncern In auditing financial ststements, we have conduded that the Trustees. use of the gn9 concem bass of accounting in the proparab'on of the financial stslefflenis appropriate. Based on the work we have perfornied. we have not identthed any material uncertainties relating to events or conditions that. individually or cdleclively. may cast signffjcant doubt on the charitable companls ability lo continue as a going concern for a period of at least tsvelve months from when the financial statements arg authorised for issue. Our spOnSIbl1cleS and the responsibilits'es of th8 TTU8tees th respect lo gcing CCorn arg ¢Jescribed in the relevant seclions of this report. Page 5
THE MAX BARNEY FOUNDATION {A ¢ompany limlt•d by guarantee) INDEPENDENT AVDITOR'S REPORT TO THE MEMBERS OF THE MAX BARNEY FOVNDATION ICONTINUEDI other Inforn)ation The other Inf(aon comprises the information included in thè Annual report other than Ihe financial slalements and our Audilc¢s rgport Iherecfi. The Truslaos are responsible for the other informth'on ccfitsined wthin Ihe Annual report. Our oF4nlon on the ffin8ncial statements does Th)t cov8r the other information and, exc8Pt to the extant othgjwise explioly stsled in our r8port, we do not 8xpres5 any form of assurance conduslon thereon. Our respx)nsibility is lo read the olher inforniaUon and. in doing so. consider whether the other infonnatK)n is materially inconsistent with the finanoal statemgnts or our knowledge obtained in the course of th8 audit. or otherwise appears lo be materially misstated. If we identify such malerHI inconsistsncies or app8nI material m6slatements. we are required lo determine whether this gives rise to a material misstatement in the financAal statements themselves. If, basèd on the work we have performed, wo ndUde Ihot there is a matsrial misstatement of this oth¢r information. we a required lo report that fact. Wa have nolhlng to report in th18 regard. Matters on whlch we aro roquired to rèport by exe•ption In the light of our knoge and und8rstanding of the charitable company and ils envin)nm8nt obtained in the course of th8 audit. we have not identified material misstat8fflents in the Directors, R@porL We have nolhing to report in respect of the followlrKJ matters where the Companies Act 2W6 requires us to repcfl to you rf. in our opnion: th8 information given in the TnJstee8' report is Inconsistent in any material respect wlh the financial statements." or sufficient accounting records have not bèen kept,. or th8 financial statements are not in agreÈmenl with th8 aoUntr.ng records and wtums.. or we have not CeIVed all Ihe information and axplanations we require k our audit R•sponsibilltl•s of trusts As exF4ained mora fully in the Trustees, SpOnsibl1&S $t8lement, tho Truslees (who are also the dlrectors of Ihe charttabl8 company for the purposas of Company law} are reswn$ible for the preparation of the financial stalernenls and for being salbsfied that Ihey e a true and falr view, and fc such intemal Gonlrol as Ihe Trustees detemsne is nec8ss8ry to enable the preparallon of financial stslements that are fra8 from mat8ri misstal&men( whether due to fraud or err. In prepariw thg financial statements. the TNstees are responsible for assessing thè charitable companrfs th14ty to contsnue as a going concem. disclosing. as applicable, matters relatsd to going Concern and using Ihe gclng COnM basis of accounting unless the Truste8s either intend to liquidate the charitsble company or to ceaso operations. or have no realistic 8llernalive but to do so. Page 6
THE MAX BARNEY FOUNDATION (A company limited by guarantee) INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF THE MAX BARNEY FOUNDATION (CONTINUED) Auditoes ro8ponslbSlltle8 for the audit of the flnanclal SLOnts Our objectives are to obtsln reasonable assurance about whether the finanual statements as a af? free from material misstatement, whether due to fraud or error, and to issue an Auditorfs report Ihat includes our opinion. Reason8ble assuran is a high Ve1 of assurance, but 15 not a guaranteè that an audit conducted in accordan with ISAS IUKI wlll always delecl a material misststernenl when ft exists. Misstatements Can arise from fraud or error and Ore consider8(J material rf. individually or in the aggregate, they could reasonably ba expe¢ted lo Inlluonce the economic declsions of us8rs taken on the basis of these fin8nclal stat8monts. 1rregularfe5. Includlng fraud, are InStanS of non-compllance with laws and r8gulalions. We design Procedures in line wth our rosponsibiliti8s, oudined above, to detect material misstatements in resp8Ct of IrulaTi.es, induding fraud. The extent to whlch our proc8dures a capable of detecting irregularities, induding fraud is detailed below. Our a35essrnenl focused on key laws and regulations the charftabla comp8ny has to comply wlh and areas of the finandal ststemenls we assessed as being more susceptible to misstatement. These key laws and regulations Includecl bul wère not limited to complianeè wfth the Companies Act 2006. Chartties Act 2011, Charities (Protection and Social Inv8Stmentl Act 2016, taxatk)n leglslallon, data protection, anti-bribery and employrnenl 18gislalion. We are nol responsie for preventing irr8gularitias, induding fraud. Our approach tr) detecting irr8gularities, including fraud, includ8d. but was not limited to, the following.. -obtaining an understanding of the lagal and regulatory framework applicable to the charitable company and how tho Charitable company is complwng with that framework, including agreemgnl ol financial st8temenl disclosures to undertying umentst10n and other evidence.. -obtaining an underslandlng of the charltable wmpany's contrd onvironmenl and h<)w the charilatle Gomp8ny has applied relevant control procadures, throu9h discussions with Trustees and other management and by performing w8lkthrough testh'ng over key areas,. -obtaining an understanding of the charitable company's risk assessment proc&88. includir¥J the risk of fraud: -revbwing meeting minutes of those charged Mth govemance throughout th• ygar,. an -perfomiSng audll tesb.ng to address the risk of management ovemde of controls, induding testing Joumal eneS and other adjustments lor apKYopriateness, evaluating thg buslngss rationale ol significant transactnS outslde the norn1 course of business and reviewing accLJunling 8stimat8s lor bias Whilst considerirwJ how our audit work addressed the det8thon of irregularities. we also eonsidered the likelihood of d$tectK)n of fraud based on our approath. IrregLAarilies arising from fr8ud are inherently more difficult detect than those arising frcffi error. Because of the inherent Ilmttatlons of an audiL ihere is a risk that we VAII net delecl all irregulBrities, in¢luding those leading to a materfal mlsstatomont In the financial statem8nts or non-¢mE41aca wilh regulation. This rf$k Incre8ses the more that complianc• wrfh a law or regulation is removgd from the events and transactions refflected In the financol statements, as we will be less likely lo become awartr tjf instsnces ol Th)n-compliance. The risk 18 also greater regarding irre9ularities occurring due lo fraud rather than èrrtjr, a5 fraud invol¥8s inlgnb'onal concealmant, forg8ry, collusn. omisson or mi8representalic. A further description of our responsibilities for the audf( of the financial ststgrnents 15 located on tho Financial Re"ng Council's website at.. www.fr¢.or .uklaud((or81es onsibilities. This de8cnption forms part of our Audilorfs report. Pag$ 7
THE MAX BARNEY FOUNDATION {A company Ilmited by guaranteo INDEPENDENT AUDITOR'S REPORT TO THE MEM8ERS OF THE MAX BARNEY FOUNDATION (CONTINUED) U¥0 of our report This report is made solely to the charitable mpanS trustees, as a b¢xly. in accordan with Chapt8r 3 of Part 16 01 the Companies Act 2006. Our audit work has been undertaken so Ihat we might state to Ihe charitable companV$ trustees those matters we are required lo state to th8m in an Audttofs Trport and for no other purpose. To th6 fullest extent pemitted by18w, we do not accept or assume responsibility to anyone other than Ihe charitable company and its mambers, as o tthy, for our audll work, for this report, or for the opinions we have fomied. Glen Bott (Senior Statutory Auditor) for and on behelff of Coop•r Pary Group Llmltgd Sky View Argosy Road East Midlands Alrport Castl8 Donington Derby DE74 2SA Date.. 16 December 2025 Pago 8
THE MAX BARNEY FOUNDATION IA company limited by guaranteel STATEPIENT OF FINANCIAL ACTIVITIES IINCORPORAT114G INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2025 Total funds 2025 Tot•1 funds 2024 Incomg from: Donabons and legae8 Inveslments 8CK),220 34.286 1,590.594 73.892 Total incom• 834,506 1,664.486 Exp•nditur• on: charitsb activities Other 2,185,454 28.132 2.365.115 32,398 Total •xpendlturn 2.213,586 2,397,513 Net expendlture beforn net loss•$ on investments Impairment {1.379,0801 11,3231 1733.0271 {2,0781 10 N•t movem8nt In funds 11.380,403) 1735.1051 R•conclli•tlork ol funds= Total funds brought forward Net movement in fun¢Js 3,476,889 {1,380,4031 4,211,994 (735,1051 Total unre•trictod funds ¢aTrlgd foThiard 2.096,486 3,478,889 Th? Statement of financial activities includes all 9ains 8nd losses recognis9d in th8 ar. Page 9
THE MAX BARNEY FOUNDATION IA cornpany Ilmlted by guarantee) REGISTERED NUMBER.. 09041095 (England and W4104) BALANCE SHEET AS AT 31 MAY 2025 2025 2024 Not• Fixed ass•ts Invgstsments 10 15,675 16,998 15.675 16,998 Curront assets Debtors Cash al bank and in hand 795,299 1,434.955 949.406 2,617,420 15 2,230,254 3,566.826 Currnnt Ilabllttie• Creditor5= amounts falling due within on8 yèar 12 1149.4431 111%,9351 Net curront assgts 2,OBO.811 3.459,891 Total n8t asaets 2.096,486 3,476,889 Charlty funds UnStriCted funds 13 2,096.486 3.476,889 Total funds 2,096,486 3.476,889 The Trustèès acknowledge their responsibilities for cOmplng hwth Ihe requirements of the Compar)ies Act 2006 with respect to ac¢ounting records and preparation of financial statements. The financial slalements havo been preparèd in acty)rd8nce wilh the prov7slons appllcable lo entities subj8d to the sThall cornpanies regime. The financlal statements were approved and authorised for issue by the TnJslee$ and $igned on their behalf by. st881 D8te.. li Tho notes on pages 12 10 20 part of these financial $iatements. Paga 10
THE MAX BARNEY FOUNDATION IA company limltsd by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY 2025 2025 2024 Note Cash flow9 from operating actlvities Nat cash used in operating activities 14 11.092.825) {347,3871 Ca¥h flows from inv•stlng activitl Loans receivabl• Loans issued Interest receive(I 84,876 47,293 1208,802) 1244,5001 34,286 73,892 Not rash used in Investlng actfvttl•8 189,6401 1123.3091 Chango In ¢a8h and ca¥h •quivalents In thè year Cash and cash equlvalents at the boginnlng of the year (1,182.4651 1470,6961 2,617,420 3.088.116 Cash and cash equlvalgnts at the end of th• yoar 15 1,434,955 2.617,420 P8ge11
THE MAX BARNEY FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 Accountlng poll¢l•s 1.1 Basis of preparation of flnancial statements The ffinanc¢al statemènts of the charitable company, whith is a public benefit entity under FRS 102. have been prepared in accordancè with the Charities SORP {FRS 1021'AcmJnting and R8porting by Charrties.. Statément of Recommended Pradicg applicable lo chaTilias preparing their accounts in accordance with th8 Financ4al Rèporting Stsndafd applicable In the UK and Republic of Ireland {FRS 1021 leffectiv8 1 Januory 20191., Flnancial Reporting Standard 102'The Financial R8porUng Standard applicable in the UK and Republic of Ireland, and the Companies Act 2CKJ6. The financial statèments have been prepared under the histodcal cost convention, with the exceplion of investments which are included ot markat valu8, as molified by the ièvaluation of certain assets. 1.2 Summary of $lgnlflcant accountlng policies and kèy a¢¢ountiTrg astlm•t•$ Th8 prin¢ip81 accounting policie5 appligd in the preparation of these ffnancjal statements are sel out below.These poliues have bè8n consis18nUy appli8d lo all the years pr8senled, unle&8 otherw5e staled. 1.3 Incom• l income is recognisèd once the Chalrty has entitlement to the income, it is probable that the income will be recelved and the amount of income rec&ivable can be measured reliably. 1.4 Expendltur• Liabilities are recognised as expenditu as soon as there is 8 legal or constructive oblKJation committing the charity to that expendilure. il is probable Ihat a transfer of eeonomic benefits will be required in settlement and the amount of the obligab.on can be measured reliably. Expenditure is accounted for on an accruals b8SiS and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be direcuy atlributed to particular headings they have been allocated to actIvIOS on a basis conslstenl wth the use of rgsources Grants off?red subject to condllons which have not b8en met al tho end date ar& rtt)ted as commitment but not accrued as expendibjre. 1.5 Charitable aGtlvltl•s Charitable expenditure ¢ornprises thos8 costs incurred by the charty in the delivery of its activibes and seNc8s for its beneficlarles.11 indudes both costs that can ba all¢)cated directly to such 8th'vities and those costs of an indirect nature necessary to support them. 1.6 Governane• Thes8 indu¢Je the costs attributable to the charitys compliance constitutional and statutory r8quirement5, induding audit, strategic managernent and trustee's meetings and reimburs8d expenses. 1.7 Taxallon The charity 1$ gxempt from cOrprya0n tax on ils charitable activili6S. Page 12
THE MAX BARNEY FOUNDATION IA company limited by guarantetl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 Accounting pollclgs {¢onlinued 1.8 Fund accounting Unrestricted funds can be usod in a¢cordance with the charitsble objectives at the discretion of the Iru3tees. Restrlctgd funds can only be us8d for partlcular mslricted purposes thin the objects of th8 ¢harily. Restrictions arise when speThfied by the donor or when funds are rals8(J for particular restri¢led purpos88. Al th8 current limo the charity does not operate any restricted funds. 1.9 For•lgn currencies Assets and liablllb.es in foreign currencies are translated into sterling 8t the r8tes of exchange wling al th8 balan sheat data. Transactions in foreign currgncies are translated into sterling al the rate of exchange ruling at the date of Iransactson. Exchange diff8renc85 are taken into a¢¢ount in arriving at the operating resulL 1.10 Donation$ Donations are recogniged when the charty has been notifi'ed in writing of both the amount 8rKI s&thement date. In the event that a donatson is subject lo conditsons that requ1 a Jevel of perfomiance by the charity b6for8 the charity is entitled to the funds, the income is Jeferred and not recognised until either those condOnS are fijlly mel. or th8 fulfilmenl of those condilk)ns is wholly wf(hin the control of the charfty it is probable that these conditions will be fUilled in the reFK)rbng p8ri0d. 1.11 Cash and ¢ash equlvalents Cash and cash equivalents comprise cash on hand and call deposits. other short-lerm hhlY liquid inve$trnen15 that arg readily converbble to a known amount of cash antj are subject to an insignifie4nt rlsk of change in value. 1.12 DebtOTS Debtors are recwised at their recoverable amounts at the balance sheet dale. 1.13 Tradg Cr•dit¢r$ Trade Creditors Bre obligations lo pay for good$ or services that have been acquired in the ordinary cours6 of business from suppllers. Accounts payablé a dassrfied as current liabilities if the d)arity do05 not have an unconditlonal right, al the of the rertIng permxl. to defer setmement of tho cr8ditor for al least dvdve months after the reporting date. If there is an unconditional right lo defer setUemÈnt for al least fvMlv8 months after the reporfing ¢Jate, they are presented a9 non-current 15abililies. Trade creditors are rgcthanised fftilially at the tran8aclion pric& and subsequently measured at 8morti$ed cost. 1.14 Invgstmonts Listed instMnts are measurgd at cost less any accumulaled Impaiment losses. Page 13
THE MAX BARNEY FOUNDATION (A c<Mnpany limited by guarantsg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 Accountlng policles Icontlnued 1.15 Flnanclal Instruments The charity only entars into basic finanual instrumen18 transactions that sUIt in the recognIon of financial assets and liabilities like trade and other debtors and creditors and loans from third port*s. Financial assets that are me8sured at cost and 8mortl$ed cost are assessad al the end of each reporting period for oblecUv8 8vid8nce of impaim)ent. If objedve evidence of impairn)ent is foLJnd, an imp8irm8nt b55 15 recognised in tha Sta¢emenl of Financial ActIVO8. Financial assets that are measur&J al fair value are valued based on valuab'ons obtaingd al the year end. The fair valu¢ of the cash has been de18rmined with referellce lo the bank statements and reconciling itsms at the year end. 1.16Golng concern The trustees have considered the appropriataness of adopting the golng concern basts in prepariThJ the financral statements for the year ended 31 May 2025. Tha trust885 have, at the time of approving the financial ststements. a reasonable expectation that the chaity has adequate resources to continue in operdtional existsn¢e for tho foreseeable fuiure, and Ih8refore. they continue to adopt the going concern basis of accounting in the financial statements. 1.17 Critl¢al accountlng Judgements and kry soure•s af e$timation unc•rtalnty In tho applicab'on of the accounting pollcies, the trustees are require(I lo make judgements. estimates and assumptions al)oul the carj amount of assets and liabilities that are not rèadily apparent from other sources. The estimates and assumpb.ons are based on experien and other lactors that are considered to tre rèl8V8nt. As such actual results may differ from these estimates which are rvWed on an oro(ir¥J bass and recognised when appropriate. The critical judgem8nt1hat the trustees have made in the process of applw'ng the charitls accounb'ng policies that hav8 the most significant effect on Ihe 8mounts recLxJnis8d in the stalulory financial slalements are discussed below.. A5ses5in indicators and im In assessing whether thère have been any Indlcators or impaimient of 8S5ets, the trustees have considered both 8Xt8mal and inlemal sourcos of Information 8uch as market condillons, counterparty credit ratings and experSonc8 or recoverabillty- The only imp8irment during the currgnl financtal year was on the investment I• note 101. K8 sources of estimation un Due to tho straight forward natur8 of the charitys actIves, Ihe truslaas do not bolieve that there are any estimation uncertalniys that have a significant risk of causing a material adjustment to the carrying amounts of assets and Ilabilities within the next financlal year Page 14
THE MAX BARNEY FOUNDATION IA c4Mhpany limltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 Income from donations andlogaci Total fundB 2025 Total funds 2024 Don8tiDns Gift aid 740,176 60.044 1,272.475 318,119 800.220 1.590,594 Invostment incom• Total fund$ 2025 TOLIJ funds 2024 Interest received 34,286 73,892 Grants payable Total fund$ 2025 Total funds 2024 Relief of unemployment through vocational training Relief of unemployment thrDU9h job uealion Generdl tharitabl8 causes 1.961.416 166.000 60.250 2.040.729 202.016 117,515 2.187,666 2,360,260 All significant grants payabl8 weie made lo institulions. Material grants payable lo institutions during the period aio as follows.. Page 15
THE MAX BARNEY FOUNDATION {A company limiled by guarant991 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 Grants payable (Continued) 2025 2024 Name of instituilon American Jewish Joint Distribution Committee IUKI Trust Frienés of the Barzilair Mèdic81 Cenler Inc L8niado Hospital The Work Avenue Foundation Ariel Unlversity Hoallh Cortx)ration of th8 Tel Aviv Medical Centre Friends of Bnai Zion Medical Center Frfends of Sheba Medical Cenler Tel Hashomer The Shamir Friends Association Friends of Edith Wolfson Centre 164,082 161.396 157,222 93,(X)O 217.470 308,510 122.330 105,675 194,43S 426.162 546,941 264,829 188,653 1(,000 86.335 293,854 60,801 78,551 186,114 248,683 1.950,282 2.052.761 Other grants lo institutions 237,384 307,499 2.187.666 2,360,260 Charltabl• •ctl¥ltles costs Grant fundlng of a¢tSvltles 2025 Totsl funds 2025 Total fund$ 2024 Dlr•ct Costs 2025 Relief of unemptoyment through vocational training R8lief of un8mploymenl through job ueation General charitabl& causes 1,961.416 166,000 60,250 1.961,416 166,(XY) 58.038 2.040,729 202.016 122,370 12,2121 12,2121 2,187,666 2,185,454 2,365,115 Page 16
THE MAX 8ARNEY FOUNDATION (A c(wnpany Ilmltod by guarant¢•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 Other expenditure Manag•m•nt Governanc• 2025 2025 lunds 2025 Olhgr re5wrces expended 13,577 14,555 28,132 Total 2024 18.964 13,434 32,398 Net incomel{•xpnditure) Net incc#nellexp8nditurel is slated after chargingllcredllSngl: 2025 2024 Audf(orfs remunerath)n 14.250 13.404 Tru$tees' ramuneratlon and benefits Other than Iruslee's expenses paid thèr8 were no tTUStees' remuneratlon or Other benefits for the year ended 31 May 2025 nor for lh8 year 8nd8d 31 hAay 2024. TTUSteo8' expens8s During the year a trustee incurred expenses of £7.62912024.. £8,720) rryirrfj out activities in support of the ¢harity. There were no other trust8&8' expenses paid for the year end1 31 May 2025 and no other tnjstees, expense5 for the year 8nd8d 31 May 2024. Staff costs The were no staff cosls for the year ended 31 May 2025 nty for the year endgd 31 May 2024. The averdge monthly number of employees durir#J the year byds NIL {2024- NIL). No employees received emoluments in ex$$ of £60.(Y)O. Paga 17
THE MAX BARNEY FOUNDATION IA company limltod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YeAR EMDED 31 MAY 2025 10. Flxed asset investm•nts Unllst Inv•6tsnerrts Cost or valuation At l June 2024 Impaimient 16,998 11,3231 At 31 May 2025 15,675 Net book valu• At 31 May 2025 15.675 At 31 May 2024 16.998 11. Debtors 2025 2024 Due within on• year Other debtors Amounts recoverabl8 on contract 69.453 725,846 307,036 642,370 795,299 949.406 The amounts recoverable on contract r•lat• to historic financiThJ 8xtended lo Institutions that undertake activities in lintr with the charws charita18 0.ctiVes. RepayTnent of th8 receivable is expected be rully repaid by August 2030. Page 18
THE MAX BARNEY FOUNDATION (A Company Ilmltod by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 P•lAY 2025 12. Creditors: Amounts falling due within one yur 2023 2024 Other crgditors Accruals and deferred incx•me 135.193 14.250 88,375 18,560 149,443 1[,935 11 Statement of fvnds Statom•nt of funds- curront year Balance at 1 June 2024 Gainsl Balance at (Loss¢$l 31 May 2025 Income Expèndlture Unrgstrlctod funds G8n&ral fund 3,476,889 834, 12,213,586) 11,3231 2,096.486 stat•ment of fund8- prior yèar Balanca at 1 June 2023 Gains1 Balan¢¥ at {Lossesl 31 May 2024 Income Expèndlture Unr9$tTlctgd funds General Funds 4,211,994 1,e64,466 12.397,5131 12,078} 3,476,889 14. Recottciliation of ngt movgm•nt in fund8 to net cash flow from oporatlng actlvltlos 2025 2024 Net expenditure for the year las p8r Stat8m8nt of Fin8nci81 Actimtiesl (1.380,4031 1735,1051 Adjustments f¢r: Losses on Investments Interest received Decrease in debtors Increaselldecreasel in creditors 1,323 134,286) 278.034 42,507 2,078 173,892) 521,798 162,266 Net cash used In op¢rating activities 11,092,825) {347,3871 Page 19
ThE MAX BARNEY FOUNDATION {A COmnY limii&d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MAY 2025 15. Analy818 of cash and cash equivalents 2025 2024 Cash al bank and in harKI 1,434,955 2.617,420 Total cash and cash ¢qui¥al•nts 1,434,955 2,617.420 16. Analysls of changos In net funds At 1 June 2024 AI 31 MAY 2025 Cash flows Cash at bank and in hand 2.617.420 (1.182.465) 1.434.955 2,617,420 {1,182,4651 1,434,955 17. Relatsd party di$¢lo$uros Donations amounts'ng to £218,00812024.. £256,050) reived in the ypar were from trustees. During the year the foundation made a donation of £7,1100 {2024.' £14.syJI to the London School of Jewsh Slu¢Jies which is 8 r8laled paty through Gary Phillips and £10,500 12024.. £17,000) lo Unitsd Synawgue whith is relat8d by Mitha81 Goldstein. Page 20