Charity ragistration number 1189451 {England and Wales)
TWO MAGPIES FUND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

TWO MAGPIES FUND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
S Wesllake
K Wesdake
Charity registration
England and Wales
1189451
Independent examiner
Gravita Audit11 Limited
Aldgale Tower
2 Léman Street
London
United Kingdom
E1 8FA

TWO MAGPIES FUND
CONTENTS
Pag¥
Trustees, report
Independent examinerfs report
statement of financial activities
statement of financial position
Notes to the financial statements
6-10

TWO MAGPIES FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report and financial slalernenls for the year ended 31 March 2025.
The trustees have adopted the provisions of the Stslemenl of Recornmended Practice ISORPI "Accounting and
Reporting by Chariliss" IFRS 1021 in preparing the annual report and financial slalemenls of the charity.
Legal and administrative information set out at the front of these financial stslemenls form part of this report.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and ￿MplY with the charills governing document dated 12 May 2020, the Charities Act 2011
and "Accounting and Reporting by Charities.. Statement of Recommended Practi￿ applicable lo charities preparing
their accounts in accordan￿ wtth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland
IFRS 1021 leffeclive 1 January 20191"
Objectives and activities
Two Magpies Fund Is a philanthropic foundation that awards grants to charities and not-for-profil organisalions
working lo address violence against women and girls IVAWGI in all its forms, and to support primary-school-aged
children growing up in poverty. Over the p8St five years, the ch8rity h8S 8W8rd&d MO￿ th8n £2 million to over 100
organisalions, primarily based in London. In planning and reviewing ils 8¢livilies, the trustees have had due regard
to the Charity Commission's guid8n¢e on public benefit.
The ¢harity's current VAWG strategy fo¢uses on providing mLJlli-year, unreslri¢ted grants lo organisations that
prevent gender-based Violen￿ through education, and lo those that support people lo leave abusive relationships
and rebLJild their lives. The charity's ¢hildren's strategy aims to give young people the best start in life by supporting
baby banks and play schemes, particularfy those operating in family hostels. DLJring the year, the tnjstees also
commissioned a new stream of work exploring the negative impacts of the criminal jLJSti¢e system on women and
their families.
Grant-making activity and achievements
During the year, the charily made grants lotalling approximately £336,000. Grants were awarded to organisations
including 81oody Good Period, CARIS Families, Fair Hearing, Furnishing Futures, Let Me Know, Little Village,
Luminary Bakery, Pram Depot, Refuge, and the Vavengers. These organisations work across the charity's priority
areas, providing preventative education, crisis support, practical assistance, and longer-term help for women,
children, and families experiencing disadvantage.
The trustees recognise and celebrate the quality and impact of the work delivered by the organisations supported
during the year, and the way in which their activity has contributed to safety, dignity, and improved life chances for
those they serve.
Governance and fvture plans
The charity is governed by ils Iruslees, who are responsible for setting the charity's direction, approving grants, and
ensuring that il operates in line with ils charitable purposes. The charity's granl-making is funded by donations from
the Iruslees, and grant decisions are reviewed regularfy lo ensure alignment with the charity's strategies and
objectives.
Looking ahead, the trustees intend to continue the charity's focused, str8tegic appro8ch to granl-m8king, including
mulli-year and unreslri¢led funding whère appropriate, while remaining responsive lo emerging evidence and need.
The trustees are grateful lo the organisalions funded during the year for their Commitment and imp8¢t, and rem8in
dedicated to furthering the charity's purposes in a ¢areftJl and considered manner.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
Charity should undertake.
Financial review
During the year, the charity recèivèd donations totalling £283,959 and madè donations totalling £336,000 in linè with
its grant making activities. As at the period end, the charity had made a deficit of £56,001 and had closing funds of
£1,971.

TWO MAGPIES FUND
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be
maintsined at a level to ¢over short and mediLJm term ¢osts of the ¢harity. The trLJStees consider that reserves at
this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's
current activities while consideration is given to ways in which additional funds may be raised. This level of resetves
has been maintained throughout the year.
Stru¢ture, governance and management
The charity was established by a governing document dated 12 May 2020 and registered with the Charity
Commission under charity number 1189451.
The trustees who served during the year and up to the date of signature of the financial slalements were..
S Westlake
K Westlake
Recruitment and appoinlment of trustees
The existing trustees are responsible for appointing further trustees.
The trustees, report was approved by the Board of Trustees.
Westlake
Trustee
251112026
Date..

TWO MAGPIES FUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TWO MAGPIES FUND
I report to the trustees on my examination of the financial statements of Two Magpies Fund for the year ended 31
March 2025.
Responsibilities and basis of report
As the Iruslees of the charity you are responsible for th& preparation of th& financial statements in accordance with
the requirements of the Charities Act 2011.
I report in respect of rny examination of the charity's financial statements carried out under section 145 of the
Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission
under section 145lSllbl of the Charities Act 2011.
Independent examiner's statement
Since the charity's gross income exceeded £250,000, the independent examiner musl be a member of a body listed
in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a
member of Inslilule of Chartered Accountsnts in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the
relevant version of the Statement of Recommended Practice applicable to charities preparing their financial
stalements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 in preference to the Accounting and Retx)rting by Charities.. Statement of Recommended Practice issued on 1
April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has
been done in order for the financial statements to provide a true and fair view in accordance with UK Generally
Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
the financial slalements do not accord with those re¢ords', or
the financial siatements do not comply with the applicable requirements concerning the fomi and content of
financial statements set out in the Charities (Accounts and Reports) Regulalions 2008 other than any
requirement that the financial statements give a true and fair view, which is not a matter considered as part of
an independent examination.
I have no COn￿rn8 and have Come 8¢ross no other matters in Connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Gravlts Audlt11 Llmlted
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
261112026

TWO MAGPIES FUND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestri¢ted Unrestricted
funds
funds
2025
2024
Notes
Income from..
Donations and legacies
283,959
189,681
Total income
283,959
189,681
Exp¢nditur¢ on..
Charitable activities
339,960
329,260
Total expenditure
339,960
329,260
Net expenditure and movement in funds
156,D011
1139,5791
Rèconciliation of funds:
Fund balan￿S at 1 April 2024
57,972
197,551
Fund balances at 31 March 2025
1,971
57,972
The statement of financial activities indudes all gains and losses recognised in the year. Al income and expenditure
derive from continuing activities.

TWO MAGPIES FUND
STATEMENT OF FINANCIAL POSITION
ASAT31 MARCH 2025
2025
2024
Notes
Current assets
Debtors
Cash at bank and in hand
3,960
1,971
61,932
5,931
61,932
Creditors: amounts falling due within
one year
13,9601
13,9601
Net Current assets
1.971
57,972
The funds of the ¢harlty
Unrestricted funds
1,971
57,972
1,971
57,972
The financial statements were approved by the trustees on
251112026
S Vlestlake
Trustee

TWO MAGPIES FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Charity information
Two Magpies Fund is a Charitable Incorporated Organisalion, registered in England. The Charity Registration
number is 1189451. The registered office is 35 Slormont Road, London, N6 4NR.
1.1 Basis of preparation
The financial slalernenls have been prepared in accordance with the charity's governing document. the
Charities Act 2011, FRS 102 "The Financial Reporting S18ndard applicable in the UK and Republic of
Ireland. I'FRS 102,1 and the Ch8rilies SORP "Accounting and Reporting by Ch8rilies'. Statement ol
Rewmmended Practice applic8ble to charities preparing their accounts in accordance with the Fin8n¢ial
Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021" (effective 1 January 20191. The
charity is a Publi¢ Benefit Entity as defined by FRS 102.
The charity has tsken advantsge of the provisions in the SORP for charities not to prepare a Statanent of
Cash Flows.
The financial statements have departed from the Charities IA¢counts and Reports) Regulations 2008 only to
the exlenl required lo provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for ch8rilies applying FRS 102 rather than the version of the Statement of
Recommended Pradice which is referred lo in the Regulations bul which has since been withdrawn.
The financial statements are prepared in sterfing, which is the functional currency of the charity. Monetsry
amounts in these financial statements are rounded lo the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
poliaes adopted are set out below.
1.2 Golng ¢on¢ern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the tntstees
continLJe to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unreslricled funds are available for use al the discretion of the trustees in furtherance of the charity's
objectives.
1.4 In¢ome
Income is recognised when the charity is legally entided to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be re￿ived.
Cash donations are recognised on receipt. other donations are recognised On￿ the charity has been notified
of the donation, unless performance conditions require deferral of the amount.

TWO MAGPIES FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcl&$
Icontlnuèdl
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amounl of
the obligalion can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of dir￿1 costs and
shared costs, including SUPFX)rt costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a basis
consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Cash and cash equivalents
Cash and cash èquivalants include cash in hand and daposits héld at call with banks.
1.7 Financial instruments
Th8 charity has èlected to apply the provisions of Section 11 'Basi¢ Financial Instruments, of FRS 102 to all ol
its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrumenl.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to setue on a net
basis or to realise the asset and settle the liability simultaneously.
Baslc flnan¢lal a$$ets
Basic financial assets, which indude debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future re￿iptS discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Dorecognltlon of flnanclal asset$
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or
are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of
ownership lo another entity, or if some significant risks and rewards of ownership are retained but control of
the asset has transferred lo another party that is able to sell the asset in ils entirety lo an unrelated third party.
Baslc flnanclal Ilabllltl8S
Basic financial liabilities, including creditors are initially recognised al transaction price unless the
arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the present value
of the future payments discounted at a market rate of interest. Financial liabilities classrfied as payable within
one year are not amortised.
Debt instrurnenls are subsequently carried al amortised cost, using the effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due wthin one
year or less. If not, they are presented as non-cutrent liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured al amortised cost using the eff&cliv& inltrrest mtrthod.

TWO MAGPIES FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcl&$
Icontlnuèdl
Dere¢ognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
Income from donations and lega¢ie$
Unrestricted
funds
2025
Unrestricted
funds
2024
Donations and gifts
283,959
189,681
Expenditure on charitable activities
Grants to
¢harltles
2025
Support
¢o$ts
2025
Totsl
Grants to
¢harltles
2024
Support
¢ost$
2024
Total
2025
2024
Dlrect costs
Accountancy
3,960
3,960
4,260
4,260
Grant funding of activities
(see note 41
336,000
336,000
325,000
325,000
336,000
3,960
339,960
325,000
4,260
329,260
Analysls by fund
Unrestricted funds
336,000
3,960
339,960
325,000
4,260
329,260

TWO MAGPIES FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Icontinuedl
Grants payable
Grants to
charities
2025
Grants to
charities
2024
Grants to institutions110 grants)..
LMK
Pramdepot C.l.C
CARIS Cambden
Little Village
Bloody Good Period
Luminary Bakery
Refuge
Vavengers
Funishing Futures CIO
The Blue Thread
Other
100,000
20,000
30,000
50,000
25,000
30,000
50,000
1 S,000
1,000
15,000
100,000
20,000
30,000
50,000
20,000
50,000
15,000
40,000
336,000
325,000
Trustees
None of the trustees lor any persons connected with them) received any remuneration or any reimbursed
expenditure during the period.
Employees
The average monthly number of employees during the year was..
2025
Number
2024
Number
Total
There were no employees whose annual remuneration was more than £60,000.
Debtors
2025
2024
Amounts falling due within one year-
Prepayments and accrued income
3,960
Creditors: amounts falling due within one year
2025
2024
Accruals and deferred income
3,960
3,960

TWO MAGPIES FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Related party transactions
The trustees jointly donated income amounting lo £283,95912024 .' £189,681).
During the year, the charity paid grants lolalling £100,00012024 £100.0001 lo a charity of which one of the
trustees is a trustee.
10-