REGisfERED COMPANY NUMBER.. CE014202 (England and Wales) REGISTERED CHARITY NUMBER.. 1178510 f he Trustee naudited Fina 31 24 manF Reeve & Co Chartered Certified Accovntant5 Unit 14 Oak House Witham Park Waterside South Lincoln LN5 7FB Mar orie Li man Foundation CIO ancial Statements for the Year Ended 31 Ma 2024 Page Report of the frustees Independent Exarniner's Report Statement ol Flnanclal Activitles Balance Sheet Notes tts the Flnanclal Statements 7 to 10 Detalled Statement of Financial Activities li Mar man Foundation Cl RÈ ort f the Trustees for Ima 2024 The trustees who are also directors of the charlty for the purposes of the Companie5 Act 2006, present their report wlth the financial statements of the charity for the year ended 31 May 2024. The trustees have adopted the provisions of A¢counling and Reportlng by Charitie5- Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Finonclal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢tlve l January 20191. OBJECTIVES AND AcfiviTIE5 Objectlves and alms The objects of Ihe charltable organi58tiori are for the benefit of the public to advance education by the provision of grants to students of any age and to educational establishments in relatlon to the provlslon of educatlon. Slgnlllcant artJvltle5 During the year the Ftsundation made 8rants to 86 students 12023.. 93 studentsl. These payments were malnlv awarded to younger students In secondary and university education in the East Mldlands. The Foundallon has held several meetin85 With Educational Institution5 In the East Midlands area to discuss how the Found8tlon can a5$1St the prospects of local students. Currently there are SO applicatlon5 that hre bein8 consldered. Total Brants awarded for the year amounted lo £91,0fy)12023.. E94,OJOI. Grantmaklni Any support 8iven by the Marlorle Llpman Foundation will be for Individua15 01 or8anisalions whlch ali8n wllh and meet the Foundation. Grant makln8 may be pro-actlve. by which the trustees identlfy indivlduals or or8anlsatlons the Foundation wSshes to support. Such offeTS shall be made as and when the trustees identify suitable candidate5 or organisatlons. FINANCIAL REVIEW Prlnclpal fundlrtg sources The princlpal source ol fundln8 for the Foundatlon 15 Marjorle Llpman Ltd, a company re815tered In En818nd Inumber Q84354231. Under the terms of the last Will and Testament of Mr5 Marjorie Llpman, Marlorie Lipman Lid shall be used as a vehlcle to fund the Marjorie Lipman Foundation. Investment poll¢yand oblertlves The trustees, havlng rÈgard to the liquidity requirements of the the work of the Foundation, have kept available funds In an Interest-bearln8 account. Reserve$ poll¢y The Reserve Fund represents the unrestricted funds ari51ng from past operatlng results and also the free reserves of the Foundation. The tfV5tees have reviewed the reserves of the Foundation encompa55ing the nature of the income and expendlture strearns. It is the policy of the Foundation to maintain reserves at a 5at151actory level in the light of present and foreseen commitrnents. FUTURE PLANS The Foundation continues to award grants to eli8ible students in the East Midlands reBion. It is anticipated that the Foundation will continue to ffleet it's finanaal target of awarding Brants of £ICX).CL(J per year since Marjorie Llpmark passed away In 2016. The Foundatlons to continue this work untll all available lund5 are expended. Page I Mar orle Ll man Fo nCIO Re ortofth T Stee5 for the Year End d Ima STRUCTURE, GOVERNANCEANO MANAGEMENT Governing docurnent The charlty 15 conlrolled by its governing document, a deed of trust, and constitutes a Ilmited company. limited bv guarantee. as defined by the Companies Acl 2LI)6. REFERENCE AND ADMINISTRATIVE DETAILS Reg15tered Company number CE014202 IEn8land and Wales) Reglstered Chailty nurnber 1178510 Re¥15tered office 6 Church Hlll Wa5hin8borou8h Lincoln Llncolnshlre LN4 IEH Trustees C R Parkln Mr5 J Parkin M R Poucher Mrs CD Mawer Independent E¥amlner Reove & Co Chartewed Certified Attouniants Unit 14 Oak House Witham Park Waterside South Llntoln LN5 7F8 Approved by order of the board of trustees on d slgned on Its behalf by.. C R Pa¥kin - Trustee Page 2 Inde Mar enl Exarniner's Re ort to the Trustees of man Foundation CIO Independent examlner'5 report to the trustees ol Marlorfe Upman Foundatlon CIO {'the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2024. ResponslbllEties and basls of report As ihe ch8rltY'5 trustees of the Company land also Its dlrectors for the purpose5 of company lawl you are responslble for the preparatlon of the accounts in accordance wlth the requlrements of the Companles Act 20061'the 2006 Aci'l. aving satlsfied myself that the accounts of the Company are not required to be audited under Part 16 of thè 2006 Art and are ellBible for independent examination. I report In respect of my exominatlon of your charity's accounts as carrled out under Section 145 of the Charlties Act 2011 1.the 2011 Act'l. In carrylng out my èxamlnatlon I have followed the Dlrection5 given by the Charity Commission untler Section 145151 Ibl of the 2011 Act. Independent examiner's statement I havÈ completed my eKaminailon. I conflrni Ihat no matters have come to my attentlon In connectlon wlth the examlnatlon giving me cause to bolleve: accountin8 records were not kept in respect of the Cornpany a5 required by Serlion 386 af thè 2006 Act,. or the accounts do not accord wlth those records,. or the accounts do not comply with the accounting requirements of Sectlon 396 of the 2006 Act other than any requirernenl that the accounts 8lve a true and fair view whkth is not a matter consldered as part of an Independent examlnailon,. or the accounts have not been prepared In accordance wlth the methods and prlnclples of the Statement of Recommended Practlce for accounting and reportln8 by charities (applicable to ¢harltles preparln8 ihelr accounts in accordance wlth the Flnanclal Reporting Standard applicable in the UK and Republlc of Ireland IFRS 10211. I have no concern5 and have come across no oiher matters In connection with the examinaiion to whlch attentlon should be drawn In this report In order to enable a proper understanding of the account5 to be reached. P A Reeve FCCA Reeve & Co Charteced cert￿fIed Accountants Unlt 14 Oak House Witham Park Waterside South Llncoln LN57FB Date.. 14, OCT¢ G.4 Page 3 Mar mon Foundatlon CIO atemen f Flnan for the Year Ended 31 Ma 2024 31.5.24 Unrestrlcted fund 31.5.23 Total funds Notes INCOME AND ENDOWMENTS FROM Donation5 and legècies loo,000 loo,000 EXPENDITURE ON Charltable actlvltles Grants to Student5 92,564 95,786 NETINCOME 7,436 4,214 RECONCIUATION OF FUNDS Total funds brguEht forward 66,077 61,863 TOTAL FUNDS CARRIED FORWARD 73,513 66,077 The notes form part of these financial statements Pa8e 4 Mar orle Li Frjundation CIO B31anc 31Ma heet 31.5.24 Unrestricted fund 31.5.23 Total funds Note5 CURRÉNT ASSET5 Cash at bank 75,683 68,247 CREDITORS Amount5 falling due within one year 12,1701 12,1701 NET CURRENf ASSETS 73,513 66,077 TOTALASSETS LESS CURRENT LIABIIITIES 73,513 66,077 NET ASSETS 73,513 66,077 FUNOS Unrestrlcted funds 73,513 66,077 TOTAL FUNDS 73,S13 66,077 The charitable company Is entltled to exemptlon frorn audlt under Section 477 of the Companles Act 20)6 for the year ended 31 May 2D24. The members have not required the company to obtaln an audlt of Its financial statements for the yeaf ended 31 May 2024 In accordance with Section 476 01 the Companies Act 2CQ6. The trustees acknowled8e thelr responsibillties for ensurlng that the Charitable company keeps accountln8 records that Comply with Se¢iions 386 and 387 of the Cornpanles Act 2Q06 and preparin8 flnancial statements whlch 8lve a true and falr view of the 5taiè of affalrs of the charltable company as at the end of each financial year and of its surplus or dell¢li for each tlnanclal year in accordance with Lhe requirement5 of Sectlons 394 and 395 and whlch otherwise Comply with the requirements of thè Companles Act 2006 relating to flnancial statements. so far as applicable to the charitable company. The notes form part of these financial statements Page S continued... Mar man Foundation Cl 31Ma 2024 These financial staterrents have been prepared in arcordance wtth the provlsion5 appliuble ID Charitable companles subject to the small cornpanies reglme. The linancial State ents were approved by the Board of Trustees and auihorised fDr issuÈ Yand were signed OA its behalf by.. on C R Parkln- Trustee .4p I Parkin - Trustee C D Mawer- Trustee M R Poucher- Trustee The notes fomi part of these finanrial statement5 Page 6 Mar orle Li man Foundation I Statements for the Ve r Ended 31 Ma 2024 ACCOUNTING POLICIES Basi5 of preparlnB the financlal statemeb)ts The financial statements of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordan￿ with the Charities SORP IFRS 1021 'Accounting and Reportlng by Charlties: Statement ol Recommended Practice applicable to charltles preparing iholr accounts in accordance with the Financsal ReportlnB Standard appllcable In the UK and Republic of Ireland IFRS 1021 leffective I January 20191., Flnanclal Reporting Standard 102 'The Flnanclal Reportlng Standard appllcablè In the UK and Republlc of Ireland, and the Companles Act 2006. The finandal statements have been prepared under the hlstorlcal cost conventlon. Income All Income Is recognlsed In the Staiement of Financlal Artivitles once the charlty has entitlement to the fL¢nds, it is probable that the Income wlll be retÈfved and the amount ¢an be measured rellably. ExpèndlturÈ Llabllliles are iecognlsed as expenditure as soort as there Is a legal or constructlve obligation committing the charlty to thal expenditure, itls probable that a transfer of econornlc benefits wlll be requlred In settlement and the amount of the obligation can be rnea5ured reliably. Expenditure is accounted fer on an accruals basis and has been dassilled under headings that aggregate all tt*St related to the cateBory. Where costs cannot be directly attributed to partlcular headings they have been allocated to activitles on a basis con515tent wllh the use of resources. Grants offered subject to condltlons whlch have not been fflet at the year end date are noted 35 a commltmenl but not accrued as expenditure. Tamatlon The charlty Is exempt fiom corporatlon tay on Irs d)arltable actlvltles. Fund accountlni Unr&strlcted funds can be used In accordance wlih the charliable oblectlves at the dlsuetlon of the trustee5. Restrlcted furtds Can only be used for particular restdcted purposes wlthin the objects of the charity. Restrlctlons arlse when speclfled by the donor or when funds are ralsed for partlcular restricted purposes. F¥Jrther explanatlon of Ihe nature and purpose ol each fund Is Included In the notes to the financial statements. TRUSTEES, REMUNERATION AND BENEF￿$ There were tru51ee5' remuneration or othei beneliis for the year ended 31 May 2024 nor for the year ended 31 May 2023. Tru5tee5' expenses There were no trustees. expenses paid for the year ended 31 May 2024 nor lor the year ended 31 May 2023. Page 7 conlinued... Mar orie 11 man Foundation CIO Notes to the Financial Statements- continued for the Y COMPARATIVES FOR THE STATEMENT OF F114ANCIAL AcnvrriES Unrestrlcted lund INCOME AND ENDOWMENTS FROM Dt)nations and legacies 100,000 EXPENOITURE ON Charltable actlvlties Grants to students 95,786 NET INCOME 4,214 RECONCILIATION QF FUNDS Total funds brought lorward 61,863 TOTAL FUND5 CARRIED FORWARD 66,077 CREDITORS,. AMOUNTS FALUNG DUE wmflN ONE YEAR 31.5.24 31.5.23 Accrued expenses 2,170 2,170 MOVEMENTIN FUNDS Net movement in funds Al 31.5.24 At 1.6.23 Unrestrlcted lunds General fund 66,077 7,436 73,513 TOTAL FUNDS 66.077 7,436 73,513 Net movemeni in funds, Included in the above are as follows.. Incomlng resources Resources expended Movement In funds Ufirestrlrted funds General lund Irx),w) 192,5641 7,436 TOTAL FUNDS IcKJ.000 192,5641 7,436 Page 8 continued.,. Mar ori man Foundation CIO Notes to the Flnancial Statemen r Ended 31 Ma 2024 MOVEMENT IN FUNDS- contlnue£l Comparatlves for movement In funds Net movement In funds At 31.5.23 At 1.6.22 Unrestricted funds General fund 61,863 4,214 66,077 TOTAL FUNDS 61,863 4,214 66,077 Comparative net movement in funds. in¢Juded in the above are as follows: Incomlng resources Resources expended Movernent In funds Unrestrlcted lunds Geneial fun ICQ,G 195,7861 4,214 TOTALFUNDS I￿,000 195.7861 4,214 A current year 12 month5 and prlor year 12 months comblned positlon Is as follows: Net movement In fund5 At 31.5.24 At 1.6.22 Unrestrlrted funds General fund 61,863 11,6SO 73,513 TOTAL FUNDS 61,863 11,650 73,513 A current yeai 12 months and prlor year 12 monihs combined net movement In funds, Included In the above ale a5 follows: Incomin8 resources Resources expended Movement in funds Unre5trfcted funds Get)eral fund 2¢J),¢J)O 1188,3501 11,650 TOTALFUNDS 200.OLYJ 1188,3501 11,650 Page 9 continu@d... orie Li man Foundation CIO Notes to the Flnancial 5tatements- continu for the Year Ended 31 Ma 2 24 RELATED PARTY DISCLOSURES There were no related parfy transactions for the year ended 31 May 2024. Page 10 Mar'orle Li tnan Foundation nc al Activitie5 2024 h Ye8rEnd d3 Ma 31.5.24 31.5.23 INCOME AND ENOOWMENTS Donatlons and le¥a¢les Le8acie5 loo,000 Total Incomlnl resour¢e5 100,000 100,000 EXPENOITURE Charitable actlvitle5 Grants to indivlduals 91,0( 94,000 Support ¢osts Informatlon t*chnoloyi PostaRe and statlonery Website costs 42 322 217 369 364 586 fjovernance tosts Accountancy and le6al fees 1,200 1,200 Total resources expended 92,564 95,786 Net Income 7,436 4,214 Thls page does not fomi part of the staiutory financial statements Page 11