REGisfERED COMPANY NUMBER.. CE014202{England and Wales) REGISTERED CHARITY NUMBER.. 1178510 20 Reeve & Co Chartered Certified A¢¢ounfafits Unit 14 Oak House Witharn Park Waterside South Lincoln LN5 7FB
Mar ndation CIO Contents of the Financial StatèmÈn f r the Year Ended 31 Ma 2023 Page Report of the Trustees Ito2 Indepet)dent Examlner's Report Statement of Flnanclal Actlvltles Balance Sheet 5t06 Notes to the Flnanclal Ststements 7t09 Deialled Ststement of Flnandal Acimtles io
n F ndati rt of the Trustees r the Year Ended 31 Ma The trustees who are also dirertors of the charity for the purposes of the Companies Act 2006, present their report with the financial ststements of the charity for the year ended 31 May 2023. The trustees have adopted the provlslons of the Statement of Recommended Practice ISOAPI 'Accounting and Reporting by Chafltles, issued in March 2005. REFERENCE AND ADMINISTRATIVE OEfAILS Reglstered Company number CE014202 (England and Wales) Re8lstered Charlty number 1178510 ReÉlstered office 6 Chufch Hlll Washingborou8h Llncoln Llncolnshire LN4 IEH Trustees C R Parkln Mr5 J Parkin M R Poucher Mrs CO Mawer Independent examln•r Reeve & Co thartered Certlfied Accountants Unit 14 Oak House wiiham Park Waterslde south Uncoln LN5 7F STRUCTURÉ, GOVERNANCE AND MANAGEMEIIT Governlni do¢urnent The charlty Is controlled by Its 8overnlng documenL a deed of trust. and constitutes a Ilmlted company. Ilmlted by guarantee. as defined by the Companie5 AU 2(#)6. RSsk rnanament The trustees have a duty to Identlfy and revlew the rlsk5 to whith the charity Is exposed and to ensure appropriate contro15 are In place to provlde reasonable assurance against fraud and error. oBJEIVES AND AcfMnES Oblectlves and alms The objects of the charitable or8anisation are for the benefit of the public to advance education by the provision of Biants to students of any age and to e(lucaUonal establishments In relation to the provlslon of educatlon. Page I
r orie Li man Foundation Ae he Trustees Y ar Ended 31 Ma OBJEcnvES AND ACTivmES Slgnlficant activltles During the year the Foundatlon made grants to 93 students 12022: 63 students). These payments were malnly awarded to younger students In secondary and Unety edUcaon in the East Midlands. The Foundatlon has held several meetings with Educational Institutions in the East Mldlands area to discuss how the Foundatlon can assist the prospects of local students. Currently there are 50 applicatlon5 that are belng considered. Total grants awarded for the year arnounted to £94.IM)12022: £81.$001. Grantmaklni Any support glven by the marjor Llpman Foundatlon wlll be for Indlvlduals or oiganlsatlons whlch allgn wSth and meet the Foundatlon. Grant maklng may be pro-acte, by which the trustees Identify Indivlduals or organlsatlons the Foundatlon wlshes to support. Such offers shall be made as and when the trustees Identlfy sultable candldates or or8anSsations. FINANCIAL REVIEW Reserves pollcy The Reserve Fund represents the unrestrlcted fvnds artsln8 from past operatin8 results and also the free reserye5 of the Foundatlon. The trustees have revlewed the reseryes ol the Foundatlon encompasslnq the nature of the Income and expendlture streams. It Is the pollcy of the Foundatlon to maSntsln reserves at a satisfartory le¥el In the 118ht of present and foreseen commitments. Prlnclpal fundlni sources The prlnclpal Source of fundln8 for the Foundatlon Is Marjorle Llpman Ltd. è company re8lstered In England (number 084354231. Under the terms of the lasi wiii and Testament of Mrs Marlorle Llpman. Marlorle Llpman Ltd shall be used a5 a vehlde to fund the Marlorle Upman Foundatlon. Investment polky and oblertl¥es The tru5tee5, havin8 regard to the Ilquidlty requirements of the the work of ihe Foundation. have kept avallable fund5 In an Intere5t-bearin8 account. FUTURE DEVELOPMEi¥f5 The Foundation contlnues to award grants to ellgible students in the East Midlands reglon. It 15 antldpated that the Foundation will continue to meet it's financial targèt Of awardin8 8rant5 of £I(m), per year since Marjorie Lipman passed away In 2016. The FoundatSons to Continue this work until all a¥allable fvnds are expended. Approved by order of the board of trustees on and $18ned on Tts behalf by.. C R Parkin - Trustee Page 2
Inde endent Examiner's Re ort to the Trustees of ai orie Li man Foundation ao I report on the accounts of the company for the year ended 31 May 2023. whlch are set out on pages four to nine. Responslbllltles and ba51s of report As the charity'5 trustees land also the dirertor5 for the purposes of company lawl you are responslble for the preparation of the accounts in accordance with the requirernÈnts of the Companies Act 2(NJ6. Havbng satlsfied myself that the charity 15 not subject to audit under company law and Is ellglble for independant examination, I have examined your charity's accounts as required under Section 145 of the Charitles Act 2011 I'the Act'l. In carryin8 Out my examination I have followed the Direction5 given by the Charity Commission under section 14515llbl of the 2011 Act. My role Is to state whether any material matters have come to my attentlon givln8 me cause to belleve.. that accountln8 records were not kept as requlfed by sectlon 386 of the Companies Act 2006: or that the accounts do not accord with those records,. or that the accounts do not Comply with ihe accountlng requlrements of section 396 of the Companles Act 2006 and wlth the methods and prlnclples of the Charities Statement of Recommended Practice applicable t charltles preparlng thelr accounts In accordan¢e wlth the Flnandal Reportln8 Standard appllcable In the UX and Republlc of Ireland.. or that there 1$ further Informatlon needed for a proper understandln8 of the accounts. Independent examlnerfs statement I have completed my examlnatlon and have no concerns In respect of the matters 111 to141 Ilsted above and, In connectlon wlth followin8 the Dlrectlons of the Charity Commls51on I have found no matters that requlre drawln8 to your attentlon. P A Reeve FCCA Association tsf Chartered Certlfled Accountsnts Reeve & Co Chartered Certlfied Accouniants Unlt 14 Oak House witham Park Waterside South Lincoln LNS 7FB ePRth96e 23 23 Page 3
Mar orie Ll man Foundation CIO Statement of Finanaal Activi for the Year Ended 31 Ma 2023 31.5.23 Unrestricted fund 31.5.22 Total funds Notes INCOMING RESOURCES Incomlng resources from generated fvnd5 Voluntary Income l(KJ,000 RESOURCES EXPENDED Charltable actlvlttes Grants to students Governance costs 94,586 1,21)J 81,737 1,2(xJ Total r•sour¢es expended 95,786 82,937 NET INCOMING AESOURCES 4.214 17,063 RECONauAnON OF FUNDS Total funds brought forward 61,863 44.800 TOTAL FUNDS CARRIED FORWAIID 66,077 61,863 CONTINUING OPERATIONS All incomln8 resources and resoltrces expended ar15e from contlnuln8 actlvltles. The notes forni part of these finanaal statements Page 4
Mar or undatlon CIO Balan 31.5.23 Unrestricted fund 31.5.22 Total funds Notes CURRENT ASSEfS Cash at bank 68.247 64,033 CREDITORS Amounts falllng due w5thin one year 12.1701 12,1701 CURRENT ASSETS 66,077 61,863 TOTAL ASSETS LESS CURRETr UABIUTIES 66.077 61,863 r4ET ASSETS 66.077 61,863 FUNDS Unre5tflcted fund5 66,077 61,863 TOTAL FUNDS 66.077 61,863 The rhotes forrn part ofthese finanaal statements Page S continued...
Mar At31M The charltable company b enUUed to exemption from audr< under Sertion 477 of the Companies Art 2006 for the year ended 31 May 2023. The members have not required the ¢ompany to obtain an audit of its flnandal statements for the year ended 31 May 2023 irt a¢¢ordan¢e wtih Section 476 of the Companies Act 2(Kl6. The trustees acknowledge thelr responslbllltles for lal ensullng that the charltable company keeps accountlng records that compty wlth 5ertlons 386 and 387 of the Companies Act 2006 and preparing financial statements which grve a true and fair view of the state of affalrs of the charltable company as at the end of each financial year and of it5 Surplus or deftclt for each financial year in accordance wlth the requirements of Sections 394 and 395 and which othèrwise comply with the requirements of the Companies t 2006 relatlng to flnanclal statements. so far as appllcable to the tharitsble company. Ibl The finan¢lal statements were approved by the 8oard of Trustees on ts behalf by.. and were sned on C R Parkln-Tru5tee 4Q Mrs I Parkln-Trustee Mrs C D MaweT-Tru5tee M R Poucher-Trustee The notes fomi part ofthese ffinanclal ststements Page 6
Mar orie Li m3nF Note5 to the Financial Statem Year Ended 31 M 2023 ACCOUNnNG POUCIES Accountlng con¥entlon The financial statements have been prepared under the historical ¢ost convention. the Companie5 Act 2006 and the requirements of the Statement of Recommended Practke. A¢countin8 and Reportlng by CharltSes. Flnanclal reportlng standard number I Exemption has been taken from prepan8 a cash flow statement on the 8rounds that the Charltable Company qualifie5 a5 a small charitable ¢ompany. Incomlnl resources All incoming resources are Induded on the Ststement of Flnandal Actlvltles when the charSty1s le8ally enlltled to the income and the amount can be quantlfied wlth reasonable accuracv. Resaur¢es e¥pended Expendlture Is accounted for on an accruals basis and has been classified undef headings that aggregate all cost related to the cate80ry. Where costs cannot be directly attributed to partlcular headln85 they have been allocated to a¢tlvltles on a basis con51stent with the use of resource5. Grants offered sublett to CondOn5 whlch have not been met at the year end date are noted 05 a commrtment but not accrued a5 expenditure. Taxatlon The charlty Is exempt from corporatlon tsx on Its charltable acthiltle5. Fund ac¢ouniing Unrestricted funds can be used In accordance wlth the charltable obJectlve5 at the d15cretlon of the trustees. Restrlrted funds can ontv be used for partlcular restrlcted purposes wlthln the obletts of the charlly. Restrlctlons arlse when speclfied by the donor or when funds are ra15ed for partlcular festrlcted purposes. Further explanatlon of the nature and purpose of eath fund Is Included In the notes to the flnanclal statements. GOVERNAf4CE COSTS 31.5.23 31.5.22 Accountancy 1,21 1,21)J TRUSTEES, REMUNERATION AND BENEFtrs There were no trustees, remuneration ar other berttfits for the year ended 31 May 2023 nor for the year ended 31 May 2022. Tru5tees' exp•ns•s There were no trustees. expenses pald for the year ended 31 May 2023 nor for the year ènded 31 May 2022. CREDITORS: AMOUNTS FAWNG DUE wTfHIN ONE YEAR 31.5.23 31.5.22 Accrued e¥penses 2,170 2,170 Page 7
man F ndatl otes t he Financial Statements- C for th Year E ed31Ma 2023 tin MOVEMENT IN FUNDS Net movement in funds At 1.6.22 At 31.5.23 Unrestrlcted funds General fund 61,863 4,214 66.077 TOTAL FUNDS 61,863 4,214 66,077 Net movement in funds. Induded In the above are as follows- Incomlng resour Resources expended Movement In funds Unr•strl¢l•d funds General fund IW.(M)) 195,7861 4,214 TOTAL FUNDS i(M).ooJ 195,7861 4.214 Comparat1 for mo¥•ment In funds Net movement in funds At 1.6.21 At 31.5.22 Unre5tr1cied Funds General fund 44.800 17,063 61,863 TOTAL FUNDS 17,063 61,863 Comparatlve net movement In fvnds. Included In thè above are as follows: Incomln8 resources Resources Movement In expended fund5 Unrestrlcted lunds General fund Icrf).rxM) 182,9371 17,063 TOTAL FUNDS Iw.c 182,9371 17.063 Pa8e 8
Mar man Foundation CIO Notes to forth Y h Finanti nded emen 2023 mOVEMETr IN FUNDS- contlnued A current year 12 months and prloryear 12 months combined ption is as follow5: Net movement in funds At 1.6.21 At 31.5.23 Unrestrlrt•d fvnds General fund 44.8 21,277 66,077 TOTAL FUNDS 21,277 66,077 A current year 12 months and prior year 12 months comblned net movement In funds. Included In the above are as follows.. Incomin8 resources Resources expended Movement In funds UnrestrScted funds General fund 1178,7231 21,277 TOTAL FUNDS 1178,7231 21.277 Page 9
r orie Li man Foun ation CIO Detailed Sta for the Y f Flnan d31M fvltles En 31.5.23 31.5.22 INCOMING RESOURCES Voluntsry Ina%Me Legacies IcKJ.000 loo.000 Total In¢omlnB resources I,c)0 Icy),0 RESOURCES EXPENDED Charltable actfvltles Grants to Indivlduals 94,1 81,$00 Governance costs Accountancy 1,200 1,200 Support ¢osts Informatlon t¢thnolo8Y PostaBe and statlonery Website costs 217 369 237 586 237 Total resources ewnded 95,786 82,937 Net Incom• 4.214 17,063 Thls page does not forni part of the statutory finandal statemènts Page 10