2024-03-31-accounts - The Macfarlane Family Foundation

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THE MACFARLANE FAMILY FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity No.. 1202171

THE MACFARLANE FAMILY FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTEf+lTS PAGE General information Trustees, Annual Report Responsibilities of the Trustees Independent Examiner's report to the members Statement of Financial Attivltles Balance Sheet Notes to the financlal ststements Charity number: 1202171

THE MACFARLANE FAMILY FOUNDATION GENERAL INFORMATION Registered charity name The MacFarlane Family Foundation Charity number 1202171 Principal & registered office address 8 Forge Close Horton.Cum-Studley Oxford OX33 18L Trustees Matthew Brlggs (appointed 3 March 2023; resigned 21 February 20241 lan Coombs.Goodfellow lappointed 25 January 20241 Roger MacFarlane (appointed 3 Mar¢h 20231 stuart MacFarlane (appointed 3 March 20231 Accountants SPX Oxford Ltd Peace House Paradise Street Oxford OXI ILD Independent examlner Sheila Parry FCCA Charity number.. 1202171

THE MACFARLANE FAMILY FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their first Annual Report together with the financial statements for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charith'es preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Objecilves and actlvltles Objectives The purpose of The MacFarlane Family Foundation I'the Foundatlon'l Is to Invlte grant applitation5 from registered charities whose services are in line with its Objects.. the relief of those in need, by reason of youth. age, ill-health, disability, financial hardship or other dlsadvantage,. the prevention or relief of poverty; the advancement of education; and the advancement of good citizenship or community development for the public benefi't. Activlfjes Durlng the year 10 chailttes were Invlted to apply for grants, and a total of £231,779 was distributed to successful applicants Isee Note 7 to the Accounts on page 111. Publlc benefft The Trustees confirm that they have complled with the duty in secfjon 4 of the Charlties Act 2011 to have due regard to the Charity Commission's published guidance concerning the operation of the Public Benefit Requlrement under that Act. Flnanclal revlew Financial positSon The Foundation recorded a surplus In the year of £186,970, malnly attributable to £194,871 of income received in February 2024 which will be utilised for grant making during the financial year ending 31 March 2025. Reserves policy The Trustees prefer to distribute the majorlty of the Foundation's net income to registered charities. The Foundation does not currently have expenses other than for the production of its Annual Accounts, and any winding up expense5 that might occur in future. In the clrcumstances, the Trustees are satt"sfied that reserve5 Can be maintained at a minimal level, and will review that decision annually. Investment policy The Trustees prefer the Foundation to be in a position tr) respond rapidly to existing or potential beneficiary needs, or to unforeseen events suth as epidemic5 or lo¢al/national disasters, or other unexpected adverse events. To that end, the Foundation's funds are held in a readily accessible bank current account. Charity number.. 1202171

THE MACFARLANE FAMILY FOUNDATION Strurture and Governance The Foundation was registered with the Charity Commission with a CIO Constitution on 3 March 2023. Its Policies and Procedures include a Grant Making Policy and a Conflicts of Interest Policy. The Trustees are as detailed above, and must be at least three in number. New Trustees should have relevant skills and experience, will be interviewed by existing Trustees prior to any appointment, and will have an appropriate induction. Charity number.. 1202171

THE MACFARLANE FAMILY FOUNDATION TRUSTEEY ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 RESPONSIBILITIES OF THE TRUSTEES The trustees are responsible for preparing the Trustees, Annual Report and the flnancial statements In accordance with applicable law and regulatlons. Charity Law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generallv Accepted Accounting Practice Iunited Kingdom Accounting Standards and applicable lawl. Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affair5 of the charlty and the income and expenditure of the charlty for that year. In preparlng these financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently,. observe the methods and prlnclples in the Charities SORP make judgements and estimates that are reasonable and prLtdent; state whether applicable UK Accounting Standards have been followed, subject to any material departures dlse105ed and explained in the financial statements,. prepare the financial statements on the going concern ba515 unless It Is Inapproprlate to presume that the charity will continue in operation, The trustees are responsible for keeplng adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial posltion of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are responslble for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. INDEPENDENT EXAMINATION Sheila Parry will be considered for re-appointment at the next trustees, meeting as independent examiner for the ensuing year. Slgned on behalf of the trustees 5 December 2024 Charity number.. 1202171

THE MACFARLANE FAMILY FOUNDATION INDEPENDENT EXAMINER'S REPORTTO THE MEMBERS OF THE MACFARLANE FAMILY FOUNDATION FOR THE YEAR ENDED 31 MARCH 2024 I report on the accounts of the charity for the year ended 31 March 2024, which are set out in pages 7- 11. RESPE1vE RESPON5181LITIES OF TRusfEES AND EXAMINER The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year Ltnder section 144121 of the Charltles Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to aLsdit under charity law and is eligible for independent examination it is my responsibility to.. examine the accounts under sectlon 145 of the 2011 Act,. to follow the procedures laid down in the general Directions given by the Charity Commission under sertion 14515llbl of the 2011 Act,. and to state whether particular matters have come to my attentlon. BASIS OF INDEPENDE EXAMINER'S REPORT My examination was carried out in accordance wlth the General Dlrectlons given by the Charity Commlsslon. An examlnatlon includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also include5 consideration of any unusual items or disclosures In the accounts and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequentlv no opinion Is expressed as to whether the accounts present a 'true and fair vlew, and the report is limited to those matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention: 111 which gives me reasonable cause to believe that, in any material respect, the requlrements: to keep accounting recoids in accordance with section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met- or 121 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Sheila Parry FCCA 6 December 2024 Charity number: 1202171

THE MACFARLANE FAMILY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlrted and Totsl Funds Note Income from: Donations and legacies Total income 471,579 471,579 Expendlture on: Charltable attlvitles Totsl expenditure 284,609 284,609 Net Income l -expendlture Transfers between funds Net movement In funds 186,970 186,970 Reconclllatlon of funds: Total funds brought forwards Total funds c•rrled forward 186,970 The Statement of Financial Activities includes all gains and losses in the period and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. All of the above amounts relate to unrestricted fund5 The notes on pages 9 to 11 form part of these financial statements. Charity number.. 1202171

THE MACFARLANE FAMILY FOUNDATION

BALANCE SHEET AS AT 31 MARCH 2024

Current assets Debtors: Amounts falling due within one year Cash at bank and in hand Creditors: Amounts falling due within one year Net current assets Net assets The funds of the charity Funds Unrestricted income funds Restricted funds Total funds Note 4 5	2024 £ 187,750 187,750 - 780 £ 186,970 186,970 186,970 186,970	2024 £ 187,750 187,750 - 780 £ 186,970 186,970 186,970 186,970
		186,970 186,970
		186,970

For the year ended 31 March 2024 the charity was entitled to exemption from audit under section 145 of the Charities Act 2011.

Trustees responsibilities:

The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 145; and
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements were approved by the members of the committee and authorised for issue on ....................................... and are signed on their behalf by: 5 December 2024

'Sf uA;Z.--r Mkf' A-<Z.t...A-1--E Trustee • � Jfv

Charity number: 1202171

THE MACFARLANE FAMILY FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES Basls of a¢¢ountln8 These finantial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards and the requirements of the Statements of Recommended Practice 2019 ISORP 20191, 'Accounting and Reporting by Charities,, issued by the Charltles Commission. Accountlng perlod This is the first year of accounts for the charity and so there are no comparatlve figures to report. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general oblectlves of the tharlty. Income All incoming resources are included in the Statement of Financial Activities when the eharlty15 legally entitled to the income and the amount can be quantified with reasongble accuracy. Donations and legacies are reported in the Statement of Flnancial Activities if they are received or due in the financlal year. Expendlture Expenditure is accounted for on an aecrua15 basls and has been classlfied under headings that aggregate all costs related to the category. Expenditure represents amounts Involeed, Includlng value added tax. Taxatlon The Charity is exempt from corporation tax on its charitable activltles. Value Added Tax 15 not recoverable by the Charity and a5 such is included in the relevant costs in the statement of financial activltles. Charity number.. 1202171

THE MACFARLANE FAMILY FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 2. INCOME FROM DONATIONS AND LEGACIES Unre5trltted and Totsl Funds Donations 471,579 471,579 3. EXPENDITURE ON CHARITABLE A1vITE5 Unrestrltted Funds Professional fees 52,010 231,779 40 780 Grants given Bank charges Governance costs- atcountancy fèes 284,609 4. CREDITORS 2024 Accruals 780 780 Charity number: 1202171 io

THE MACFARLANE FAMILY FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 5. ANALY515 OF FUNDS At3 March 2023 At31 March 2024 Income Expendlture Galns I -losses General Funds Unrestricted income funds 471,579 284,609 186,970 Restrlrted funds Total funds 471,579 284,609 186,970 6. TRUSTEE REMUNERATION & RELATED PARryTRANSACTIONS No member of the board of trustee5 recelved any remuneration or Incurred any expenses during the year. Durin8 the year there were the following Related Party Transactlons Related party •nd nature of relatlonshlp Detalls of Tr•nsactlon Amount Payment to Burnside Partnershlp for professional services in help setting up the charity Matthew Brlggs, trustee of the charity and Solicitor and Partner of Burnsi(ie Partnership 8,740 Matthew Briggs, trustee of the charlty and Solicitor and Fixed Share Member IPartnerl of Irwin Mitchell Payment to Irwin Mitchell for professional services in help setting up the charitv 43,270 7. BENEFICIARIES The followin8 grants were distributed during the year.. Aspire Oxfordshire The Hummingbird Centre Archway Foundation Family Links The Porch The Parasol Project Oxford Wood Recycling The Story Museum The Exodus Project Daybreak Oxford 40,800 15,000 15,000 30,000 25,000 20,000 20,979 25,000 25,000 15,000 231,779 Charity number.. 1202171 li