Registered number: 10792668 Charity numb•r: 1180989 Meldrum Foundation (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 IIN 111 *AE9086WD• 20108r2025 CCthIPANIES HOUSE A03 #126 Armstrongwatson. Accountants, Business G Financial Advisers MELDRUPA FOUNDATION IA wnpany limited by g￿rantee) CONTENTS Page Refer•nc• and administrative detsls of the Charity. its Trnstees and advisers Trustees. report Ind•pondent examln¢r's report ststvm8nt of Ilnanctsl a¢llvl¢l•s Balane• sh••t Notes to the flnanclal 3tstements 8-14 MELDRUM FOUNDAnoN {A eompany l•mited by guarnnleel REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 NOVEMBER 2024 Trustees Dav￿ Meldrum Alexandra Louise Renny Ireygned 1 February 2025) Cheryl Lea James Michelle Louise Dunlop Susan Ann Melcalf Company registered number 10792668 Charity registered number 1180989 Register•d offi¢• Pantheon Bulding Lancaster Road Dunston NE11 9JW C¢)mpany se¢rotsry Rthard Lwry Accountsnts Armstrong Watson LLP Cbartered Accountants First Floor One Strnwberry Lane Newcastle upon T￿e NE1 48X Page 1 MELDRUM FOUNDAnoN (A company limiled by guarantsel TRUSTEES. REPORT FOR THE YEAR ENDED 30 NOVEM8ER 2024 The Trustees present thwr annual report together wth Ihe unaudited financTral 51*ements of the Charrty for the year 30 November 2024. The annual reF#Yt serves the purposes of both a Trustees, report and a directors. report under company law. The Trustees confirm that the annual report and finanual statemenls ol the chantable company ¢omply wth the statutory requirements, the requirements of the tharilable company's governing document and prowsion5 of Ihe St*ement of Recommended practi￿ ISORPI applicable to charities preparing their accounts in accordance the Financial Repo￿n9 Standard applicable In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. Since the Charity qualffies a5 small under sects.on 382 of the Companies Act 2rx6, the Strategic rewrt required of medium and large companies under the Compan*s Act 2CK)8 Istrategic Report and Directorfs Reporti Regulattons 2013 has been omrtied. Objectives and activities a. PolScles and objecllves Our charitable objects are the ￿lie1 of Ihose in need. by reason of youth. age. IH heallh. disabilty. financral hardship or other exdusively charitat4e purwse laccordin9 to the law of England and Wales) In the countses of Northumbedand. Tyne & Wear. Durharn arHI Cle¥eland INiyth Ea511 as the Trustee5 see fit from bme lo ty'me in¢luding bul not limited to.. 111 The prevention or relief of p)vety and l or finanual hardship in the North East by providing grants. item5 and servi￿$ to indmduals in need al￿ l or charrties. or other oryanisakns working to prevent or relieve poverty. 121 The reliel of sickness and the Preservation of health people ￿sidIng permanenlly or temporarily In the North EasL In setting objeclives and ￿annIng for actsvilies. the Truslee's have given due c(￿&derat￿&n lo general guidance published by the Charity Commission relats.ng to pU￿C benefit. ￿duding the guidan￿ 'PutrAie benefit. running a charity IPB21'. Achlevements and perfornian¢e a. R?vi•w of a¢tl¥iti¢$ The purpose and aim of the Foundatson Is to Make A Drfference lo those most disadvantaged in life, vthether il be through their bad(ground. age, disabihty or lunes Meldrum Foundab'on throughout 2024 organised ￿ main events, Meklrum Ch3ty Ball and Ch8nty Golf Day, which were extremety su¢¢esslul ènd aking wth various Ir￿0￿$t events whith induded Raffles. Table top safes. Charity 8uffets. It enat4ed us to raise significant monies not onty lo support our nominated charities, name Heel & Toe, Oasis Community House, Sc4an Connor Fawcett Cancer Trust and Tees5ide Charity but rt also allowed us to support a number of other loral charities induding the donatK)n ol a sensory swing lo Collingwood Media College vthi¢h would support of number of young pupts vthh leaming difficullies. We are hopeful lo have the san* success in 2025 be at4e to SUPF*Yt a number of charits'e& Meldrum FoundatK¥n contsnues lo strive to Make a Drfference. Page 2 lJlELDRUM FOUNDATION IA eompany limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENOEO 30 NOVEMBER 2024 Achievements and perfMnan¢¢ {¢ontinu¢dl Financial r•vigw a. Going conc•rn After making appropriate enquiries, the Trustees have a reasonaLle eXr*cta￿n that the Chartty has &1equale resource5 to continue in operabonal existence for the I0￿seeable futu￿. For this ￿aSOn, they ￿ntinue to adopt the 90ing concern bags In preparing the finanual sL7tements. Further detsls regarding the ajoption of Ihe going concern basis can be found in the accounb.ng P￿l￿e$. b. Financial review The principa source of unre51ricted incorne wnprised dmations of £25912023.. £221 and fundraising ath'vities of £66.38512023 £44,350). The net expendbture for the year was £3.405 {2023'. net income £7951 as disdosed In the Stalement of Financial Athvities on page 6. Unreslrth fvnd5 at the year end defxeased lo £1,203. c. Reserves policy The Charity should aim to m•ntsin a minimum reserve of £2.LThJO to cover any fixed cosls that fundraising income would not cover. The Trustees revEw both Ihe polKy and the Te5erve5 posib.on annualy. They ￿nSider the reserye5 are 5ats"sfactory at 30 November 2024. Structure. gove¥nan¢• and manag¢m¢nt a. Con$ti¢utlon Meklnjm Foundation is registered as a chaiitaLle c￿npanY limrted ty gvarantee. The charrtable company is govemed by rt5 Memorandurn aftd Artides of Assw"atson dated 26 May 2017. as amended ty Special Resolution dated 21 December 2017. ils reg￿tered charty nurnt*r is 1180989. b. Methods of appointment or election of Tntstees The management of the Charity is the reSp(￿SIbl"1rtY of Ihe Trustees who we etected and COllOPted under the teTm5 of the ArtK4es of A5sooab"on. Page 3 MELDRUM FOUNDATION IA Company Ilmrt•O ty guarantee) TRUSTEES. REPORT ICONllNUED) FOR THE YEAR ENDED 30 NOVEIIBER 2024 ststem•nt of Truslws. responsilxlities The Trustees (who are also the directors of the Chanty for the pU￿)seS of company lawl are ￿spOnSible for preparing the Trustees, report and the financial statements in accordance 7rth aPFli¢able lèw and United Kingdom Attounling Stsndards (Unrted ￿ng{IMI Generally Accepted Accounling Practice). Company law requiTe5 the Trustees to prepare finwual ststements for each financial peric4J. Under company law. the Trustees must not approve the finanual slatements unless they are sats"sfied that they give a Irue and fair wew of the state of affairs of the Charity and of its incoming reSoU￿S and aFF4icabon of resources. induding its incorne and expendrture, for that period. In preparing these financial slalements. the Trvslees are required to. sdect suitable a¢c I have n¢ concems and have ¢ome across no other matters in connect￿￿ the examination to whith attents'on should be drawn In this Tewrt in (￿r to enable a woper urbdetstandirKJ of the ac￿unts to be ￿a¢he This report is made solely to the Chanty's TnJstee5, as a tody. in accordance with Part 4 of the Charities (Accounts and Reporis) Regulats"ons 2008. My work has Lwi undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent examinerfs report and for no other purpose. To ihe lullest extent permitted by law, I do not accept or assume ￿PonsIbl11ty to anyone other than the Charity and the Chantys Trustees as a body. for my wort or for this report Signed." Michèel Mcwri5 (Aug 13, 2025 13..01."33 GMT+ll Michael Morris t)ated: 1310812025 FCA FCCA Arm51rons Wa150n LLP Chartered Accountsnts Newcastle Page 5 MELDRUM FOUNDAnoN IA ¢I￿npanY limil¢d by guarantse) STATEMENT OF FINANCIAL ACTMnES {INCORPORATING INGOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 NOVEAI8ER 2024 Unrestricted fvnds 2024 Totsl funds 2024 Total funds 2023 Income from.. DC￿allonS and legaG Other Irading acbvibes 259 66.385 259 66.385 22 44,350 Total incom• 66.644 66.644 44,372 Expenditure on: Raising funds CharIta￿e activities 25.400 44.649 25,400 44,649 20,967 22.610 Total expenditure 70.049 70,049 43,577 Net incomel lexpenditure) and movement ith fvnds 13.4051 13,405) 795 R•conciliation of funds: Totsl fun¢Js brou9ht forward Net movement in fijnds 4.608 13,4051 3,813 795 13.40SI Totsl lunds ¢arth fonma 1,203 1.203 4.608 The Statement of financial acb"vib"es indvdes all gains and bsses recognised in the year. The notes on pages 8 to 14 forn part of these finanrial staten*n Page 6 MELDRUPII FOUNDATK)N IA company Itmited by guar•ntee) REGISTERED NUMBER: 10792668 BALANCE SMEET AS AT 30 NOVEMBER 2024 2024 2023 Current ass•ts Debtors 10 10,898 59,252 4. 192 32,865 Cash at bank and in hand 70.150 37,057 Creditofs.. amounts f￿11￿9 due ￿thIn one year 11 168,9471 (32.449) Net current as￿9 1203 4.608 T¢)tal a$$*ts l•s$ ¢urrent Il•bilitA•s 1,203 4.608 Total n•t assets 1,203 4.608 Cha￿ty funds Unre5trthd fvnds 12 1.203 4.608 Total fvnds 1.203 4.608 The Charity was enblled lo exempts)n frc*n audrt under sectirth 477 ofthe Companies Act 2006. The members have not required the company to otrAain an audit for the ye* in question in aecordanee with sec*on 476 of Companies Act 20CO. The Tfustees acknowledge their ￿p￿SIbilib.es complwng wth the requ1￿ments of the Act with respect lo accounting records and preparat￿￿ of financial stalement& The finanual statements have been prepared in accordance with the provisions applicab￿ to entities subject to the 5m811 companies regim& The financial statements were approved and authorised for isyje by the Tnjstees aThJ signed on their behalf by.. Cheryl Jame (Aug 13. 2025 11..01.17 GMT*ll Cheryl Lea James Truslee Date.. 1310812025 The notes on pages 8 to 14 fm part of these finanoal statements. Page 7 MELDRUM FOUNDAnoN IA Compa￿ limited by guarantee) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Legal status of the ¢harlty The charty Is a company limited by guardntee, has no share capital and Is regISte￿d In England and Wales. The address of the registered office 1$ Panlheon Building, Lancaster Road, Dunston. NE11 9JW. The liability of each member in the event of a wnding up Is £10. Accounting policies The prinapal accounknng poliaes adopled. jUdge￿ents and key sources of estsmab.on Uncertainty in the p￿parat￿ of the ac￿urtts aR as l¢4lows". 2.1 Basis of Preparat1<￿ of flnanclal $t•tements The finanaal ststements have been prepared in accrKdancE wrth the Char￿"e5 SORP IFRS 1021- Accounting and Reporb"ng by Chanb"es." Statement of Recommende¢J practi￿ applicable to charities preparing their accounts in accordance with the Financial RepDrts"ng Standard apFdicable in the UK and Reput4ic of Ireland IFRS 1021 leffe¢live 1 January 20191, the Financial Repo￿ng Slandard appli¢atle in Ihe UK and Reputlic of IreLand {FRS 1021 and the Companies Act 2006. Mddrum Foundati￿ meets the definrfion of a pubhc benefft entsty under FRS 102. Asset5 and abilities are initialty recognised al historical cost or tran5acb.on value unle55 Otherwise staled in the relevant awJunbn9 P￿'ry. The financial ststernnts are yepared in sterting is the functional and presentational currency of the Charity. 2.2 Going concern The charity has reviewe(l its ¢ashfi¢)w fOr￿aSts and there 1$ a ￿sOnable expectation that it hos adequate resources to cC￿linUe in operab.onal e￿StenCe for at least the next 12 months and on thi5 ba%s the Trustees consider the charity is a going c(Mwn. 2.3 IncoThe AJI income is reCOgn￿ed once the Chanty has enb"dement to the income. it is probable that the incorne will be received artd the amount of incorne receNalJe Gan be mEasured relia￿. 2A Expenditure Expenditure is recognised once the￿ is a legal or conslTUCtr¥e obligatson to transfer economic beneff( to a third party. rt is prOba￿e that a transfer of economic benefits wll be required in settlement and the amount ol the obligation can be measured reliabty. Expendilure is dassified by acttvity. The costs of each ath'vity are made up of the total of direct C05t5 arKI Shared costs. including support costs Invofved in undertaking eath a¢b"wty. DI￿¢t cosis attnbutat4e to a single adivity are allocated dire¢tty to that ath'vity. Shared ¢osts whth contritsjte to more than one activity and supwrt costs which are not attributable to a single acbvity are appothoned btheen those activib"e5 on a basis consistenl with the use of resourees. Expenditure on raI5￿g fvnds indudes al expeTrJrture inrJJrTed by the Charity lo raise fvnds for its charitable purp)se5 arKJ indudes c4)5ts of all fur￿[al$ing activitw events arbd n0nl or similar account. 2.7 Liabilities and provisions Liakn'lrt￿s are recognised when there is an obligab.on at the Balan￿ sheet date as a rèsLIi of a past event, rt is probatle that a transfer of econom￿ benefil wll be required in settlement, and the amount of the setttement can be tstJ"mated reliably. Liabilit￿ are recogni5ed al the amount thal the Charity anbrypates rt will pay to 5etlle the debt or the amount il has received as advanced payments the gwjs or services it must provide. Provigons are ffeasured * the best estimate of the amunts ￿quired to settle the obligation. Where the effect of the time value ol ffKJney is material, the provisKJn is based on the present value ol those amoun15, discounted at the pTrtax discount rate that Tellects the risks Specific to the liability. The unwinding of the discount is recognised in the Statement of finanual aclivrtie$ as a finance ¢osL 2.8 Fund •¢¢ountlng General furKls are unrestncted lurKls whth are avalai4e use at the disCret￿n of the Trustees in fvrtherance of Ihe general obj'ectives of the Charity and ¥thich have not been designated for other purposes. Income from donati¢￿$ and legacies Unvestricted funds 2024 Total fuTrd$ 2024 Total fvnds 2023 Donations 259 259 22 Page 9 MELDRUM FOUNDATION IA company limited by guarnnte¢) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 kncorne from other trading activities kn¢om* fr¢)m fvndrnl$lng ev•nts Unmslri¢ted funds 2024 Total funds 2024 Total funds 2023 Fundraising FOundat￿n Events 15,093 51.292 1S.093 51.292 10,512 33,838 Total 2024 66,385 66,385 44.350 Expendlture on ralslng funds Costs of ra5s5ng voluntary In¢om¢ Unrnstricted funds 2024 Total fvnds 2024 r¢>tal funds 2023 Cost of raisng furKf5 Staging Fundraising Events 234 234 25.166 1.917 19,050 25.166 Total 2024 25,400 25.41)0 20.967 Anatysls of ex￿nditufft on ¢harilablt a¢ti¥Otle¥ Summary by fund typ• Unreslri¢ted funds 2024 Total 2024 Total 2023 Charitsk4e actiMties- grant rnaking 44,649 44.649 22,610 Page 10 MELDRUM FOUNDATION IA Company Ilmiied by guarant¥el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Analysis of expendilure by activit•es Grant funding of tivities 2024 Support Total funds 2024 Total funds 2023 2024 Charitatle ath"vitses- grant making 40.020 4.629 44,649 22.610 7a. Gra•ts and d¢Jnations 2024 2023 (>ants to ￿$tilutionS Donations 35.000 5,020 15,000 5,531 40.020 20.531 7b. Anaty$is of grants The Charity has m•Je the fo11ry4¥ing grants lo insblutions". 2024 2023 Oasis C￿nMUnty Housing Solan Connor Faw¢ett Cancer Trusl Heel & Toe Teeskle Charity 10,000 10.000 10,000 s.000 s.￿0 5.000 5.000 35.000 15.000 kndependent exrrinerfs remun•ration 2024 Fees payable to the Charitys indepeThJent exanlner for independent eXaMir￿￿"0n of the Charitys annual acLounts 2.000 Page11 MELDRUM FOUNDATION IA company limited by guarantee) NOTES TO THE FINAhlCIAL STATEMENTS FOR THE YEAR ENOEO 30 NOVEMBER 2024 Truste¢s' r•muneration and •xpwus The charity cortsiders ils key mar￿ement per￿ne1 cornprrse the Tru5tee5. Dunng the year. Trustees received any rerNllerat￿n or other benefits12023- £NILJ. During the year ended 30 November 21Y24. no Trustee expenses have been incurred {2023- £NIL). 10. Oeblovs 2024 2023 Oue within ofi• y•ar Trade debtofs Accrued income 10.374 524 3,267 925 10,898 4,192 11. Creditors: Amounts falling du• within ¢)M year 2024 2023 Trade Creditors Other cYdrtors Grants payable Accruals and deferred incow 515 8,093 37,120 23.219 29 16,320 12,500 68.947 32.449 Page 12 MELDRUM FOUNDATION IA ¢ompany limited ty guarantee) NOTES TO ThE FIW4CIAL STATEMENTS FOR THE YEAR ENOEO 30 NOVEMBER 2024 11 StstemÈnt oflunds Statement of funds • currpnl year Balance •t 30 Novemb•r 2074 Balance at 1 Dte•mber 2023 Income Expendlture Unre$tricted funds General funds 4.608 170.0491 1.203 Slalefflent of funts- prior year 8818n￿ at 30 November 2023 Balance at l December 2022 Income Exp8ndittsrg Unrestri¢ted lund¥ General funds 3.813 44.372 (43,577) 4.608 11 An•tysl$ of net assets betwe•n funds Anatysls of net assets between fund$ • Clwrnnt p•riod Unr•strict•d fund 2024 Total funds 2024 Current assets Credrtofs due within one year 70,150 {68,9471 70.150 168,947) Totsl 1,203 1,203 Page13 MELDRUM FOUNOATION (A Company limited by guaT#nt¢el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 30 NOVEMBER 2024 13. Analysis of n•t ass•ts betw••n funds Icontinuedl Analy$is of net •$stts between fvnd$- pnor period UnTrstncted lunds 2023 Total funds 2023 Current assets c￿ltorS due within one year 3T,057 (32.449) 37,057 132.449J Total 4,608 4,608 14. Relaied Pa￿ transactions David Meldrum, trustee, 15 a director of Mehjrum corthcts.on Ser¥ices Limited. At 30 November 2024 a balance of £8.09312023 - £16.3201 was 0¥￿d by the charity to Meldnjm ConstrUct￿)n Services Limited, in respect of payments made on behalf of the chanty. Page 14