Company Number: 10038349
Charity Number.. 1168170
The Middleton Foundalion
(A company limited by guarantee)
Trustees, Fleport and Financial Statements
for Ihe year ended 31 March 2024

The Middleton Foundation
Contents
Page
Report of the Trustees
Independent Examiner's report
Statement of financial activities
Statement of financial activities
Balance sheet
Statements of cashflows
Notes to the financial statements
10-21

The Middleton Foundation
Reference and Administrative Details
Trustees
P R Woolston
C Middleton
J P Middleton
L E Middleton
Secretary
R L Johnston
Key Management Personnel
C Sells
Registered Office
Haylofts
5 St Thomas, Street
Newcastle upon Tyne
NE14LE
The charity is incorporated in England and Wales.
Company Registration Number 10038349
Charity Registration Number
1168170
Independent Examiner
CLA Evelyn Partners
17 Queens Lane,
Newcastle upon Tyne.
NE1 1RN
Bankers
Handelsbanken
Durham
43 Old Elvet
Durham
DH1 3HN

The Middleton Foundation
Trustees. report
For the period ended 31 March 2024
The Trustees, who are directors for the purposes ol company law, present the annual report together with the
financial statements and accountants, report of the charitable company for the year ended 31 March 2024.
Structure, governance and management
Nature of governing document
The company is constituted a charitable company limited by guarantee, registered in England and Wales (company
number 10038349), governed by its Memorandum and Articles of Association dated 10 February 2016 and is a
registered charity with the charity commission in England and Wales (charity number 1168170).
Recruitment and appointment of trustees
The management of the charitable company is the responsibility of the Board of Trustees. The trustees give their
lime and experience freely. Trustees are elected and co-opted under the terms of the Articles of Association.
Induction and training of trustees
An induction is provided to new trustees. This allows them to understand their role in the charity, gain clarity on their
legal responsibilities, and acquire knowledge on the key policies and procedures of the charity.
Relationships with related parties
The company had a wholly owned trading subsidiary, Charity Escapes Trading Company Limited {CoTnpany number
104808071 during 2024.
Major Risks and management of those risks
The trustees have assessed the major risks to which the company is exposed, in particular those related to the
operations and finances of the company, and are satisfied that systems and procedures are in place to miligale our
exposure to the major risks. The Board of Trustees reviews the risk register at least annually lo ensure transparency
and control of all identified risks.
Objectives and activities
Objects and aims
To provide accommodation to vulnerable people with learning disabilities in the North East England and Cumbria.
To promote any charitable purpose for the benefil of the public generally, both in the UK and overseas.

The Middleton Foundation
Trustees. report (Continued)
For the period ended 31 March 2024
Objectives and activities (Continued)
Obiects and aims (Continued)
To apply the income or all such part or pans of the capital, at such time or times and in such manner as Ihe trustees
may in their discretion think fit in making donations andlor grants for the public benefit worldwide for charitable
purposes andlor to existing charities whose charitable objects are principally.-
-The relief of those in need by reason of youth, ill health, disability, financial hardship, or other disadvantage
-The prevention or relief of poverty
-The advancement of education, the arts, culture or heritage
Our ambition is to provide a long term forever home to individuals with learning disabilities. in the North East ol
England and Cumbria. We understand that providing the right home is the foundation lo empowering individuals with
disabilities to live a fLrlfilled life with dignity, independence, and empower a sense of belonging in the local
community. The Trustees have named this housing project Molly's Project.
Objectives. strategies and activities
Molly's Project has continued to make progress throughout 2024, purchasing an additional two homes.
The project has focused on four key pillars to achieve progress towards its objectives;
Finding the forever home.. The Middleton Foundation recognises the challenges faced by individuals with learning
disabilities and their families in finding suitable accommodation. Through Molly's Project, the Foundation aims to
bridge this gap by creating housing options that prioritise accessibility, safety, and inclusivity.
Long-Term: The project emphasises the importance of stability and continuity in the lives of individuals with learning
disabilities. By providing long-term housing solutions, Molly's Project aims to create a sense of belonging,
independence, and security for its residents.
Collaboration and Partnership.- The Middleton Foundation is working in partnership with registered Housing
Associations who have expertise in this field.
Communication: building relationships and continued dialoglje with families, Local Authority commissioners, The
Integrated Care Board in the North East and Cumbria. care providers. social workers and Housing Associations.
The Foundation has continued to make donations during the year to other charities. Through the Foundation's
investment in its trading subsidiary, Charities Escapes Trading Company Limited, the Foundation has been able to
further support charities to raise much needed funding. In September 2023 the trustees made the decision to cease
supporting the operating of the trading subsidiary. An orderly windup of the company was facilitated, with operations
ceasing on 31 January 2024 and the company bèing wound up on 10 September 2024.
Public benelit
The trustees consider that through providing housing to vulnerable people with learning disabilities, the enabling
olher charities to raise greater funds for their charitable purposes and by the provision of grants, the Middleton
Foundation is delivering public benefit.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have
due regard to the public benefit guidance published by the Charity Commission for England and Wales.

The Middleton Foundation
Trustees. report (Continued)
For the year period 31 March 2024
Achievements and performance
The trustees continued to progress and support the Molly project. the charities housing project for individuals with
learning disabilities in the North East of England and Cumbria in 2024.
2024 has continued to be a year of investment, building a stable foundation for Molly's Project in terms of developing
relationships with strategic partners and securrng additional homes for those in need.
During the year the trustees made significant progress on its four key pillars of Molly's project:
The charity purchased an additional two forever homes in the North East of England, supporting live
additional people with learning disabilities to live and thrive independently in a long term forever home. These
acquisitions took the total number of homes provided to three. The rental income received on all properties has
been designated to Molly's project lo help more individuals with learning disabilities find their forever home.
The trustees (Jeveloped their working collaboration and partnership with two registered housing providers.
The project has continued to invest significanl resource into building and maintaining relationships with
seven local authority commissioning teams in the North East and the Integrated Care Board in the North East and
Cumbria
Key non-financial performance indicators
In the year Molly's project has provided.,
Housing for an additional five people with learning disabilitieslautism in the North East and Cumbria., bringing the
total number of people supported by Molly Project to eight people with learning disabilities in the North East and
Cumbria
The project purchased an additional two forever homes, bringing the total number of forever homes provided to
three.
The trustees were pleased to be able to award grants totalling £36K (2023: £ 96K) to 80 charities.
Financial review
The charity received £168K in the y@ar, of this £40K was from donations and E128K earnt from rent and interest.
Policy on reserves
In line with Charity Commission guidelines the trustees monitor the levèl of reserves held to ensure they are being
used lo help the objectives of the charity. The calculation of free reserves is based on the definition included in the
charity statement of recommended practice (SORP}. which provides recommendations for accounting and reporting
for charities. The trustees have examined the requirements of the charity lo hold free reserves - those reserves not
invested in tangible fixed assets, excluding intercompany loans, long term liabilities, or designated for a particular
purpose. The Trustees considered it would be appropriate to hold the equivalent of three months expenditure. Three
months expenditure would equate lo holding approximately £5K in free resetves. On this basis free reserve are
£88K negative at the year-end (£6K FY231.
Fundraising disclosures
The charity is required to report how it deals with fundraising from the public. The charity does not use a professional
fundRiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines
set oul by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of
all public donors. The charity's brand awareness is facilitated through a public relation consultant, social media feeds
and positive word ol mouth advertising. We report on any fundraising complaints for which there were none in 2024.

The Middleton Foundation
Trustees, report (Continued)
For Ihe year period 31 March 2024
Plans for future periods
The trustees are encouraged by the progress ma(Je on Molly's project to date.
The trustees remain committed to providing housing to individuals with learning disabilities in the North East and
Cumbria. There is a substantial need in the local community for this provision. Over the long term the ambition is to
provide a legacy of a substantial property portfolio which provides valuable forever homes, linking with colleges and
schools lo provide the next step in the personal development of young people with learning disabilities. Post year
end the charity has purchased an additional property housing one individual.
Going concem
The charity's forecasts and projections for the next twelve months show that the charity should be able to continue in
operational existence for that period. The charity has a significant posilive cash balance and is forecasting for this to
continue through execution of the project plan.
Statement of Trustees, Responsibilities
The trustees (who are also the directors of The Middleton Foundation for the purposes of company lawl are
responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice} and applicable law and
regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law Ihe
trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the
state of affairs of the charitable company and of its incoming resources and application of resources, including its
income and expenditure, for that period. In preparing these financial statements, the trustees are required lo-.
select suitable accounting policies and apply them consistently.,
observe the methods and principles in the Charities SORP:
make judgements and estimates that are reasonable and prudent,.
slate whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume Ihat the
charitable company will conlinue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charitable Gompany's transactions and disclose with reasonable accuracy at any time the financial position of the
haritable company and enable Ihem to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable
steps for the prevention and detection of Iraud and other irregularities.
The ann
I report was approved by the trustees of the charity on 51h November 2024 and signed on ils behalf by..
P R Woolston
Trustee

The Middleton Foundation
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MIDDLETON FOUNDATION
For the year ended 31 Mar¢h 2024
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of cotnpany lawl you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('Ihe
2006 Act,).
Having satisfied myself that the accounts of Ihe Company are not required to be audited under Part 16 of the 21)06
Act and are eligible for the independent examination, I report in respect of my examination of your charity's accounts
as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In Carrying out my examination I have
followed the Directions given by the Charity Commission under section 145(5} {b} of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my altention in connection with the
examination giving me cause to believe:
accounts records were not kept in respect of the Company as required by section386 of the 2006 Act-. or
2. the a￿OuntS do not accord with those records,. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any
requirement that the accounts give a 'true and fair view which is not a matter considered as part of an
independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounling and reporting by charities.
I have no concerns and have come account no other matters in connection with the examination to which attention
should be drawn in this repot in order to enable a proper understanding of the accounts to be reached.
Stephen Easton FCA
CLA Evelyn Partners
Accountants
Date:
17 Queens Lane
Newcastle upon Tyne
NE1 1RN

The Middleton Foundation
Statement of Financial Activities (Including Income and Expenditure Account)
For the year ended 31 March 2024
Unrestricted
funds
Total
2024
Total
2023
Note5
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
39,852
51,305
77,227
39,852
51,305
77,227
2,615.089
14,676
38,629
Total income
168,384
168,384 2,668,394
Expenditure on".
Charitable activities
(179,966}
1179,966) 1267,0431
Total Expenditure
(179,966)
{179.966} (267,0431
Net movement in funds
(11.5821
(11,5821 2.401,351
Reconciliation of funds
Total funds brought forward
2,484.731
2,484,731
83,380
Total funds carried forward
17
2,473,149
2,473,149 2,484,731
All income and expenditure derive from continuing activities.

The Middleton Foundation
Comparative Statement of Financial Aclivities
For the year ended 31 March 2024
Unrestricted
funds
Tolal
2023
Notes
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
2,615,089 2.615,089
14,676
14,676
38,629
38,629
Total income
2,668,394 2,668,394
Expenditure on:
Charitable activities
(267,043) (267.043)
Total Expenditure
(267.0431 {267.043)
Net movement in funds
2,401,351 2,401,351
Reconciliation of funds
Total funds brought fotward
83,380
83.380
Total funds carried forivard
17
2,484,731
2,484,731

The Middleton Foundation
Balance Sheet
As at 31 March 2024
2024
Notes
2023
Fixed assets
Tangible assets
Investments
1.024,747
12
396,024
1.024.748
396,025
Current assets
Debtors
Cash at bank and in hand
13
784,135
676,251
14
772.950
1,336,223
Creditors:
amounts falling due within one year
1.460,385
2,109,173
15
{11,985)
120.467)
Net current assets
1,448,401
2.088.706
Net assets
2,473,149
2,484.731
Funds of the charity".
Unrestricted funds
17
2.473.149
2,484,731
The financial statements were approved and authorised for issue by the trustees on 51h November 2024 and signed
on their behalf by.,
P R Woolston
Trustee
The notes on pages 11 to 23 form part of these financial slatements.
Company registration number 10038349

The Middleton Foundation
Statement of Cash Flows
As at 31 March 2024
Note
2024
2023
Cash flows from operating activities:
Net cash (expenditure}lincome
111,582)
2.401,351
Adjustments to cash flows from non-cash items
Depreciation of tangible fixed assets
Profit on disposal ol tangible fixed assets
Investment income
435
1541
(77.2271
45
(38,6291
Working capital adjustments
Increase in debtors
increase/(Decrease) in creditors
(88.428)
2,362,767
(11,185)
(8,482)
{680.3371
(2,286)
Net cash flows from operating activities
108,095
1,680.144
Cash flows from investing activities
Interest receivable and similar income
Donation of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed assets
77,227
38.629
(395,0001
(1,0691
(630,0041
900
Net cash flows from investing activities
(551,8771
(357,440)
Net increase in cash and cash equivalents
(659,972)
1,322,704
Cash and cash equivalents at the beginning of the year
1.336.223
13,519
Cash and cash equivalents at the end of the year
10
676,251
1,336,223

The Middleton Foundation
Notes to the financial statements
For the period ended 31 March 2024
Charity stalu5
The Middleton Foundation is a Company Limited by Guarantee in the United Kingdom, incorporated in England and
Wales. and consequently does not have share capital. Each of the trustees is liable lo contribute an amount not
exceeding £10 towards the assets of the charity in the event of liquidation.
The address of ils registered office is: Haylofts, 5 St Thomas, Street, Newcastle upon Tyne, NE1 4LE
Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all Ihe years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective 1 January 2019) - (Charities
SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}. They
also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
The Middleton Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy
notes. The financial statements are prepared in sterling which is the functional currency of the charity and rounded
to Ihe nearest £.
Going concem
The charity's forecasts and projections for the next twelve months show that the charity should be able to continue in
operational existence for that period, taking into account reasonable possible changes in trading performance. This
also considers the elfecliveness ol available measures to assist in mitigating the impact. The charity has strong
positive cash balances and is forecasting to invest the cash in propety to generate renlal income. The trustees have
stress tested their forecasts. taking into account various scenarios, and remain confident Ihat the uncertainties do not
cast significant doubt on the company's ability to continue as a going concern.
Exemption from preparing group accounts
The charily has taken advantage ol the exemption in section 398 of the Companies Act 2006 Irom the requirement lo
prepare consolidated financial statements, on the grounds Ihal it is a small sized group and has taken advanlage of
section 24.13A ol the Charities SOFIP on the basis that the financial results of its only subsidiary afe immaterial lo
the financial statements of the group.
10

The Middleton Foundat(on
Notes to the financial statements
For the period ended 31 March 2024
Estimation uncertainty and judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions
that affect the amounts reported.
Estimates and judgements are continually evaluated and are based on historical experience and other factors,
including expectations of future events that are believed lo be reasonable under the circumstances.
In preparing these financial statements the directors do not consider there were any significant areas of judgement
that were required in applying the company's accounting policies as set out above.
Income and endowments
All income is recognised once the charity has entitlement to the income. it is probable that the income will be
received and the amount of the income receivable can be measured reliably.
Donations and legacies
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 to the funds, the income is deferred and not recognised until either those conditions are fully met, or the
fulfilment 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.
Investment income
Interest is recognised when it is recognised on the earlier of being nolilied of the amount or it being receipted into the
bank.
Expenditure
All expenditure is recognised once there is a legal or constructive obligalion to that expenditure. it is probable
settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure
heading that aggregate similar costs to that category. Where costs cannot be directly attributed lo particular
headings they have been allocated on a basis consistent with the use of resources. with central staff costs allocated
on the basis of time spent, and depreciation charges allocated on the portion ol the asset's use. Other support costs
are allocated based on the spread of staff costs.
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 to support Ihem.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with
the use of resources, for example. allocating propety costs by floor areas. or per capita, stalf cosls by the lime spent
and other costs by their usage.

The Middleton Foundation
Notes to the financial statements
For the period ended 31 March 2024
Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory requirements.
including audit, strategic mallagement and trustees. meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore
it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially
exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11
of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that
such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £1,000 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual
value, over their expected useful economic life as follows:
Asset class
Computer Equipment
Land and Buildings
Depreciation method and rale
25°A straight line
Over 50 years
The depreciation policy for land and buildings has been calculated on the cost of the buildings al a rate of 20ts per
annum. However, the board will not depreciate Ihe buildings further below recoverable amount.
The value of Ihe buildings was determined by an external valuation. performed prior to the building being donated or
purchased. The value of the donations has been taken as deemed cost.
The properties are held as fixed assets on the basis that it aligns with the charitable objectives to provide
accommodation and forever homes to its beneficiaries. As a result, all rental income received is recorded as
charitable activities income.
Cash and cash equivalents
Cash and cash eqltivalents comprise cash on hand and call deposits. and other short-lerm highly liquid investments
that are readily convertible to a known amount ol cash and are subjecl lo an insignificant risk ol change in value.
Trade creditors
Trade. creditors are obligations to pay for goods or services that have been acquired in the ordinary coursè ol
business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an
unconditional right, al the end of the reporting period, to defer settlement of the creditor for at least twelve months
after the reporting date. If there is an unconditional right lo defer settlement lor at least twelve months after the
reporting date, they are presented as non-current liabilities.
12

The Middleton Foundation
Notes to the financial statements
For the period ended 31 March 2024
Trade creditors are recognised initially al the transaction price and subsequently measured at amortised cost using
the effective interest method.
Fund structure
Unrestricted income funds are general funds and designated funds that are available for use at the trustee's
discretion in furtherance of the objectives of the charity.
Income from donations and legacies
Unrestricted
Funds
General
Tolal
Total
2023
2024
Donations and legacies..
Donations
39,852
39,852 2,615,089
39,852
39,852 2,615,089
All prior year income was unrestricted.
Income from charitable activities
Unrestricted
Funds
General
Total
2024
Total
2023
Provision of Housing
51,305
51,305
14,676
51,305
51,305
14,676
5 Investment income
Unrestricted
Funds
General
Total
2024
Total
2023
Interest receivable and similar income..
Interest receivable on bank deposits
77,227
77,227
38,629
77,227
77,227
38,629
13

The Middleton Foundat40n
Notes to the financial statements (Continued)
For the period ended 31 March 2024
Expenditure on charitable activities
Unrestricted
General
Total
2024
Total
2023
Grant funding of activities
Housing activities
Provision of support to other charities
Governance costs
36,011
3,663
131,445
8,847
36,011
3,663
131,445
8,847
96,083
7,606
155,368
7,986
179,966
179,966
267.043
An analysis of grants made to organisalions is provided below.
Unreslricted
General
Total
2024
Total
2023
Red Sky Foundation
New Covenant Ministries
Cancer Research UK
Dragonfly Cancer Trust
Tiny Lives Trust
Charlie Gard Foundation
Newcastle Cal & Dog Shelter
Feeding families
Children's Hospices Across Scotland
Edinburgh Cal & Dog home
Action for A-T
Yorkshire Cal Rescue
Scottish Cot Death Trust
Scottish Association for Mental Health
The Childrens Adventure Farm Trust
Children in Need
Ukraine Appeal
Children of Choba
Changing lives
Myaware
Remembering Flebecca
Scollish SPCA
North East Air Ambulance
Sports Newcastle
Other donations (less than £1,000)
35,613
8,615
6,637
3,814
3.572
3,003
2,500
2,500
2,230
2,274
2,195
2,149
2,064
2,000
1 .037
1 ,040
1,000
1,000
1.000
4,566
4,566
1,900
4,248
1,900
4,248
2,121
2,121
2,316
2,170
2,009
1,848
1,968
12,866
2,316
2,170
2,009
1,848
1,968
12.866
11,840
36,011
36,011
96,083
14

The Middleton Foundation
Notes to the financial statements (Continued)
For the period ended 31 March 2024
Provision of support to other charities
Support
costs
Total
2024
Total
2023
Wages and salaries
Insurance
Telephone
Computer software and mainlenanee
Printing, postage and stationery
Travel and subsislence
Marketing and PR
Accountancy fees
Depreciation
Bank charges
Professional Fees
Fund raising Fees
Staff training
Foreign exchange loss
86,672
1,767
292
18,366
66
1,217
5,686
9,190
435
86,672
1,767
292
18,366
66
1,217
5,686
9,190
435
211
576
5,479
1,488
98,613
900
568
21,364
67
3,521
16,360
8,613
45
281
649
211
576
5.479
1,488
4.215
172
131.455
131,455
155,368
Governance costs
Unrestricted
General
Total
Total
2023
2024
Audit fees
Audit of the linancial statements
Other fees paid to auditors
Independent examiners fees
Examination of the financial statements
Other fees lo Independent examiners
Legal fees
7,200
660
4,500
960
3,387
4,500
960
3,387
126
8,847
8,847
7,986
Trustees, remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
£48312023 = £2591 of expenses were reimbursed to P R Woolston during the year.
No trustees have received any reimbursed expenses or any olher benefits from the charity during the year.

The Middleton Foundation
Notes to the financial statements (Continued)
For the period ended 31 March 2024
Staff costs
The average number of employees during the period was as follows."
Management
Support
2024
2023
The total staff costs and employee benelits was as follows-
2024
2023
Wages and salaries
Social security costs
Pension costs
82,531
2,304
1,836
86,672
92,309
4.364
2,349
99,022
No employee had employee benefits in excess of E60.00012023 - £60,000).
Independent examiner's remuneration
2024
2023
Examination of the financial statements
10. Taxalion
The charity is exempt from taxation in respect of income or capital gains received within categories covered by
Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gaines Act 1992. 10
the extent Ihat such income or gains are applied exclusively to charitable purposes.
16

The Middleton Foundation
Notes to the financial stalements (Continued)
For Ihe period ended 31 March 2024
11
Tangible fixed assets
Land and
buildings
Computer
equipment Totsl
Cost
At 1 April 2023
Additions
Disposals
395,000
628,632
1,069
1,372
{1,0691
396,069
630,004
11,0691
At 31 March 2024
1.023,632
1,372
1,025,004
Depreciation
At 1 April 2023
Charge for the year
Depreciation on disposals
45
435
(223)
45
435
12231
At 31 March 2024
257
257
Carrying amount
At 31 March 2023
395,000
1,024
396,024
At 31 March 2024
1,023,632
1,115
1,024,747
Included within the net book value of land and buildings above is £1,023,632 (2023- £395,000) in respect of Ireehold
land and buildings and £ Nil12023 - £ Nil) in respect of leaseholds.
During the year ended 31 March 2023. the Charity was donated a property, 116 Wigton Road, Carlisle which will be
used as a rental property as part ol the Molly Project. The property was valued on 22 July 2022 at a value of
£395.000 for the purpose of being donated to the charity by Vickers and Barrass Chartered Surveyors. The value of
the donation has been taken as deemed cost.
The property is held as a fixed asset on the basis that it aligns with the charitable objectives to provide
accommodation and Forever Homes to its beneficiaries. As a result, all rental income received is recorded as
charitable activities income.
17

The Middleton Foundation
Notes to the financial statements (Conlinued)
For the period ended 31 March 2024
12 Fixed asset investments
2024
2023
Shares in group undertakings and participating interests
Subsidiary
undertakings Total
Shares in group undertakings and participating interests
Cost
Al 1 April 2023
At 31 Mar¢h 2024
Net book value
Al 1 April 2023
At 1 April 2024
Details of undertakings
Details of the investments in which the charity holds 200/0 or more of the nominal value of any class of share capital
are as follows..
Country of
incorporation
Undertaking
Proportion of voting
rights and sha￿S held
2024
2023
Holding
Subsidiary undertakings
Charity Escapes
Trading Company
Limited
England and
Wales
100¥.
100/.
100/0
18

The Middleton Foundalion
Notes to the financial statements (Continue
For Ihe period ended 31 March 2024
Subsidiaries undertakrngs
The profit for the financial period of Charity Escapes Trading Company Limited was £25,740 {2023 - £35,564) and
the aggregate amount of capital and reserves at Ihe end ol the period was £24,308 {2023 - £50,047).
The Charity has taken the exemption of preparing group accounts on the basis that the subsidiary, Charity Escapes
Trading Company Limited's results are immaterial to the group.
13
Debtors
2024
2023
Trade debtors
Due from group undertakings
Prepaymenls
Accrued income
Other debtors
7,032
18.793
2,305
34,560
721,444
2,006
48,593
7,030
9,647
705,674
784.135
772.950
Amounts due from group undertakings are repayable on demand.
14
Cash and cash equivalents
2024
2023
Cash at bank
Short-lerm deposits and liquid investments
376,251
300.000
666,570
669.653
676.251 1,336.223
15 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
3,338
5,087
2,240
411
12,729
189
8,457
11,985
20,467
19

The Middleton Foundation
Notes to the financial statements (Continued)
For the period ended 31 March 2024
16 Pension and other schemes
Defined contribution pension scherne
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents
contributions payable by the charity to the scheme and amounted to £1,836 (2023 £ 2,3491. Contributions totalling
£189 {2023-. £ 411) were payable lo the scheme at the end ol the year.
17
Funds
Balance at 1
April 2023
Incoming
resources
Resources Balance at 31
expended March 2024
Unrestricted funds
General
Unrestricted funds
55,691
45,256
(168,788)
167,8411
Designated
Molly Project
2,429,040
123,127
(11,178) 2,540,989
Total fund
2,484.731
168,383
(179.966)
2,473,148
18 Analysis of net assets belween funds
Unrestricted
General
Designated
Total Funds
Tangible fixed assets
Fixed asset investments
Net current assels/lliabilitiesl
1,115
1,023,632
1,024.747
168,957}
1,517,357
1,448,400
rotal net assets
{67,841)
2,540,989 2.473.148
Unrestricted
Total Funds at
General
Designated 31 March 2023
Tangible fixed assets
Fixed asset investments
Net current assetsl{liabilitiesl
1,024
395,000
396.024
54,666
2,034,040
2.088,706
Total net assets
55,691
2.429,040
2,484,731
20

The Middleton Foundation
Notes io the financial statements (ContiTnuedJ
For the period ended 31 March 2024
19 Analysis of net funds
At 1 April
2023
Financing
Cash flows
At 31 March
2024
Cash at bank and in hand
1.336,223
(659,9721
676.251
Net cash
1,336,223
(659,9721
676,251
At 1 April
2022
Financing
Cash flows
At 31 March
2023
Cash at bank and in hand
13,519
1,322,704
1,336,223
Net cash
13,519
1,322,704
1,336.223
20 Related party transactions
A balance of £18,793 (2023: £48,593) was owed by the charity's subsidiary Charity Escapes Trading Company
Limited at the year end. Advances were made to the charity's subsidiary lolalling £ Nil Repayments were received
from the charity's subsidiary totalling £29,800. The amount is repayable on demand.
During the year donations of £nil 12023: £2,536,700) were received from Jeremy and Catherine Middleton, the
founders of The Middleton Foundation.
A balance 01 £721,444 (2023.. £ 705.674) was owed by Middleton Enterprises Limited, an entity in which there is
common control in which trustees ol Ihe charity are also directors of the company.
21