Charity numbar: 309040
THE SPOORE, MERRY AND RIXMAN FOUNDATION
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE SPOORE, MERRY AND RIXMAN FOUNDATION
CONTENTS
Page
Reference and Administrative Details of th• Charity, Its Trustees and Advisars
Trustees. Report
Indep•ndent Audltors. Report on the Financial Statsments
statemént of Financlal Activltles
Balance Sheot
10-11
Notes to the Financlal Statsments
12-26

THE SPOORE, MERRY AND RIXMAN FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
lan Thomas, Chairman (appointed 9 January 2023)
Barbara Wielechowski, Deputy Chaiman (appointed 9 January 2023)
Mayor Neil Knowles, Trustee (appointed 5 May 2023)
Former Mayor Christine Bateson, Trustee (resigned 4 May 2023)
Cllr Leo Watters, Trustee (resigned 4 May 2023, reappointed 5 May 2023)
Cllr Donna Stimson, Trustee (resigned 4 May 2023)
Cllr Gery Clark, Trustee (resigned 4 May 2023)
Cllr David Coppinger, Trustee (resigned 4 May 2023)
Philip Love, Council Appointed Representative (resigned 4 May 2023. reappointed
6 October 2023)
Grahame Fisher, Trustee
Anthony Hill, Trustee
Ann Redgrave, Trustee
Cllr Jack Douglas, Trustee (appointed 5 May 2023)
Cllr Sian Martin, Trustee (appointed 5 May 2023)
Cllr Gurch Singh, Trustee (appointed 5 May 20231
Charty registsrad
number
309040
Princlpal offlca
PO BOX 4787
Maidenhead
Berkshire
SL60 1JA
Independent auditors
Donald Reid Limited
Chartered Accountants
Statutory Auditors
Prince Albert House
18a120 King Street
Maidenhead
Berkshire
SL6 1EF
Sollcltors
Colemans Solicitors LLP
51 Switchback Office Park
Gardner Road
Maidenhead
SL6 7RJ
Page 1

THE SPOORE, MERRY AND RIXMAN FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the audited financial statements of the Charity for the year
1 January 2023 to 31 De￿mber 2023. The Trustees confim that the Annual report and financial statements of
the charity comply with the current statutory requirements, the requirements of the charity's governing document
and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities
issued in 2019.
Objectives and activltios
Pollcles and objectiVOS
In setting objectives and planning for activities, the Trustee have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
charity (PB2)'.
After payment of any expenses of administration. the trustees shall apply the net yearly income and an agreed
amount of capital of the foundation for the benefit of persons who have not attained the age of 25 years, resident
in the area identified in the scheme who, in the opinion of the trustees, are in need of financial assistance
(hereinafter referred to as beneficiaries") in one or more of the following ways..
a) The award of Scholarships, Bursaries or Maintenance Allowances tenable at any School, University, or other
place of learning, approved by the trustees.,
b) The provision of financial assistance. ouffits, clothing, tools, instruments or books to enable beneficiaries on
leaving school, university or any other educational establishment to prepare for, or assist their entry into, a
profession, trade or calling.,
c) The award of Scholarships or Maintenance Allowances to enable beneficiaries to travel abroad to pursue their
education.,
d) Assistance towards the provision of facilities of any kind not nomally provided by the Local Education
Authority, for recreation, social and physical training, including the provision of coaching in athlets'c sports and
games for beneficiaries who are receiving primary, secondary or further education"
e) The provision of financial assistance to enable beneficiaries to study music or other arts., and
fj Otherwise promoting the education (including social and physical training) of beneficiaries.
Within the limits prescribed by this Scheme, the trustees shall have full power to make rules for the award of
Scholarships, Bursaries, Maintenance Allowances, or other benefits, including rules as to the value and period of
tenure of the awards, and the qualifications and method of as￿rtainMent and selection of beneficiaries.
Achievements and performance
a. Revlew of activitios
There was an overall surplus for the year of £221,270 (2022 deficit.. £1,908,888). The market value of the
investment funds has increased to £9,827,674 (2022.. £9, 774,682). The Charity received investment income
during the year of £326,821 (2022.. £248, 709). Grants of £420,489 (2022.. £864,589) were awarded to those
deemed to qualify under the trust rules. The freehold investment propety has not been revalued in 2023 (2022."
£50,000 revaluation gain). It has been determined that all funds held are to be classified as permanent
endowment funds.
Page 2

THE SPOORE, MERRY AND RIXMAN FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Flnancial review
. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the going
COn￿ffi basis can be found in the Accounting Policies.
structure, governanco and management
a. Constitutlon
The Spoore, Merry and Rixman Foundation is a registered charity, number 309040, and is constituted under a
Trust deed.
b. Methods of appointmant or olection of Trustees
Trustees are elected and co-opted under the terms of the Trust deed.
c. Organisational $tru¢tur• and declslon-making policies
The body of the Trustees of the foundation shall consist of eleven persons.
one being the Mayor of the Royal Borough of Windsor and Maidenhead.
five Representative trustees to be appointed.-_ four by the Royal Borough of Windsor and Maidenhead and one
by the Royal Borough of Windsor and Maidenhead as a local education authority.
five co-optive trustees, to be appointed by resolution of the trustees.
d. Financlal rlsk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the
operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
Page 3

THE SPOORE, MERRY AND RIXMAN FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENOED 31 DECEMBER 2023
statement of Trustees, responsiblliti88
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and application of resources, including its income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent"
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
lan Thomas
(Chair of Trustees)
Date..
12 Sep 2024
Page 4

THE SPOORE, MERRY AND RIXMAN FOUNDATION
INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF THE SPOORE, MERRY AND RIXMAN
FOUNDATION
Oplnlon
We have audited the financial statements of The Spoore, Merry and Rixman Foundation (the 'charity') for the
year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the
Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable
in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practs'ce).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic
of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended
Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally
Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming
resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordan￿ with the requirements of the Charities Act 2011.
Basls for oplnion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statement5 in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to golng concem
In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
concem for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
Page 5

THE SPOORE, MERRY AND RIXMAN FOUNDATION
INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF THE SPOORE, MERRY AND RIXMAN
FOUNDATION (CONTINUEDI
other information
The other information comprises the infonnation included in the Annual Report other than the financial
statements and our Auditors. Report thereon. The Trustees are responsible for the other infomiation contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the course of the
audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to dete￿Ine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material
misststement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on whlch we are requirod to roport by exceptlon
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion.
the information given in the Trustees, Report is inconsistent in any material respect with the financial
statements," or
sufficient accounting records have not been kept", or
the financial statements are not in agreement with the accounting records and retums" or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees. Responsibilities Statement. the Trustees are responsible for the
preparation of the financial statements which give a true and fair view, and for such intemal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the f nancial statements, the Trustees are responsible for assessing the charitys ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations. or have no
realistic alternative but to do so.
Page 6

THE SPOORE, MERRY AND RIXMAN FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE SPOORE, MERRY AND RIXMAN
FOUNDATION (CONTINUED)
Auditors. responsibilities for the audlt of th6 financlal statemènts
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of thèse financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design prO￿dureS
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities.
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:
enquiring of management con￿mIng actual and potential litigation and claims;
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, Report.
Page 7

THE SPOORE, MERRY AND RIXMAN FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE SPOORE. MERRY AND RIXMAN
FOUNDATION (CONTINUED)
Use of our report
This report is made Sole￿ to the charitys trustees, as a b(Kly, in accord8nce with Part 4 of the Charities
(Accounts and Reports) Regulaticjns 2(X)8. Our audit WOTk has been underta(en so that W8 might state to the
charitys trustees those matters we are required to state to them in an Auditors, Report and for no other
purpose. To the fullest extent pemiitted by l&v, we do not accept or assume responsibility to anyone other than
the charity and its trus
s, as a body, for our audit W￿ for this report, or for the opini(Ms we have fomied.
Donald Reld L5mited
Chartered Accountants
Statutory Audit(xs
Prince Albert House
18a120 King Street
Maidenhead
Berkshire
SL6 1EF
Date:
Donald Reid Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 20(￿.
Page 8

THE SPOORE, MERRY AND RIXMAN FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
As restated
Total
fvnds
2022
Endowment
funds
2023
Total
funds
2023
Note
Income and endowments from:
Investments
326,821
326,821
248, 709
Total income and andowmonts
326,821
326,821
248. 709
Exponditure on:
Raising funds
Charitable activities
47.480
420,489
47.480
420.489
48, 698
864, 589
Total •xpendltura
467,969
467,969
913,287
Net expenditure beforg net galnsl{losses) on
Investments
Net gainsl(losses) on investments
Net movement In funds beforo other recognlsed
galnsl(losses)
(141,148)
362,418
(141.148)
362,418
(664,578)
(1.294.310)
221,270
221,270
(1,958. 888)
other recognised galnsl(losse8):
Gains on revaluation of fixed assets
50,000
Net movement in funds
221,270
221,270
(1.908, 888)
Reconcillatlon of funds..
Total funds brought forward as previously stated
Prior year adjustment
10,151,689
50,288
10,151,689
50,288
12,110,865
Total funds brought foNrfard as restated
Net movement in funds
10,201,977
221,270
10,201,977
221.270
12,110,865
(1,908,888)
Total funds carried forward
10,423,247
10,423,247
10,201,977
The Statement of Financial Activities inGludes all gains and losses recognised in the year.
The notes on pages 12 to 26 form part of these financial statements.
Page 9

THE SPOORE, MERRY AND RIXMAN FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2023
As restated
2022
2023
Nots
Fixed assets
Tangible assets
Investments
Investment propety
732
11
9,827,674
650,000
9, 774, 682
650, 000
10
10,478,406
10.424, 682
Current assets
Debtors
Cash at bank and in hand
12
9,815
120,623
5,292
83,336
130.438
88,628
Creditors- amounts falling due within one
year
13
(133,930)
(200, 500)
Net current Ilabilitles
(3,492)
(111.872)
Total assets less current Ilabilities
10.474,914
10,312.810
Creditors.. amounts falling due after more
than one year
14
151.667)
(110. 833)
Net assets excluding ponslon asset
10,423,247
10,201,977
Total net assets
10,423.247
10,201,977
Charity funds
Endowment funds
Restricted funds
17
17
10.423,247
10,201,977
Unrestricted funds
17
Total funds
10,423.247
10,201,977
The financial statements were approved and authorised for issue by the Trustees on
12 Sep 2024
and signed on their behalf by..
anT
omas
(Chair of Trustees)
Page 10

THE SPOORE, MERRY AND RIXMAN FOUNDATION
BALANCE SHEET ICONTINUED)
AS AT 31 DECEMBER 2023
The notes on pages 12 to 26 form part of these financial statements.
Page11

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting polici08
1.1 Basis of praparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of I￿land (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fair, view. This departure has involved following the Charities SORP (FRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended
Practi￿ effective from 1 April 2005 which has since been withdrawn.
The Spoore, Merry and Rixman Foundation meets the definition of a public benefit entity under FRS
102. Assets and liabilits'es are initially recognised at historical cost or transaction value unless
othemise stated in the relevant accounting policy.
The financial statements have been prepared on the going concern basis and under the historical
cost convention with items recognised at cost or transaction value unless otherwise stated in the
relevant notes to these accounts.
1.2 Income
All income is recognised once the Charity has entilement to the income, it is probable that the
income will be received and the amount of income re￿1vable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Eviden￿ of
entitlement to a legacy exists when the Charity has sufficient eviden￿ that a gift has been left to
them (through knowledge of the existence of a valid will and the death of the benefactor) and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value
of the amount receivable, which will generally be the expected cash amount to be distributed to the
Charity, can be reliably measured.
Income recieved from listed securities is recognised on the remittance basis.
Rental income is recognised on the accruals basis.
Page 12

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support 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 be￿een those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives. as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as
commitment. but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1A Interest roceivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charity,. this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
1.5 Cash Flow
The financial statements do not include a Cash Flow statement because the charity, as a small
reporting entitiy, is exempt from the requirement to prepare such a statement under the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland (FSR 102) and
Charities Act 2011 .
1.6 Tangiblg fixod assets and depreciatlon
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis..
Office equipment
Computer equipment
33°/o Straight line
20°/o Straight line
Page 13

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continu•d)
1.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value
cannot be measured reliably in which case it is measured at cost less impaiment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investments, in the Statement of Financial Activities.
1.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturtty
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.10 Llabllltles and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement. and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finan￿ cost.
1.11 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
1.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 14

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Investment incomo
Endowment
funds
2023
Total
funds
2023
Investment income- rental income
Listed investments
52,771
274,050
52.771
274,050
Total 2023
326,821
326,821
Endowmenf
fvnds
2022
Total
funds
2022
Investment income- rental income
48,413
200,296
48,413
200,296
Listed investments
Total 2022
248, 709
248, 709
Investment management costs
Endowment
funds
2023
Total
funds
2023
Investment management fees
Insurance
44,714
2,766
44.714
2,766
Total 2023
47,480
47,480
Page 15

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Investment management costs (continued)
As Trstated As restated
Endowment
Total
funds
funds
2022
2022
Investment management fees
Insurance
46,025
2,673
46,025
2,673
Total 2022 as r8Stat8d
48, 698
48,698
Analysis of grants
Grants to
Grants to
Institutions Indlviduals
2023
2023
Total
funds
2023
Grants to institutions
Grants to individuals
252,870
252,870
131.480
131,480
Total 2023
252,870
131,480
384.350
Grants to
Institutions
2022
Grants to
Indiwduals
2022
Total
funds
2022
Grants to institutions
Grants to individuals
678, 941
678, 941
148, 830
148, 830
Total 2022
678,941
148, 830
827, 771
Page 16

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure on charitable activities
Summary by fund type
Endowment
funds
2023
Total
2023
Grants to institutions
Grants to individuals
Auditors, remuneration
252,870
131,480
4,490
30,000
1,582
67
252.870
131,480
4.490
30,000
1,582
67
Administration expenses
Office costs
Depreciation
420,489
420,489
Endowment
funds
2022
Total
2022
Grants to institutions
Grants to individuals
Auditors, remuneration
Administration expenses
Computer costs
Office costs
678,941
148,830
4, 140
30, 060
596
2.022
678,941
148,830
4. 140
30,060
596
2.022
864.589
864.589
Page 17

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activitias
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Grants to institutions
Grants to individuals
Auditors, remuneration
Administration expenses
Office costs
252,870
131,480
252,870
131.480
4,490
30.000
1,582
67
4,490
30,000
1,582
67
Depreciation
384,350
36,139
420,489
Grant
funding ol
activities
2022
Support
costs
2022
Total
funds
2022
Grants to institutions
Grants to individuals
Auditors, remuneration
Administration expenses
Computer costs
Office costs
678,941
148,830
678,941
148,830
4, 140
30,060
596
4, 140
30, 060
596
2,022
2,022
827,771
36,818
864, 589
Audltors. remunoration
The auditors, remuneration amounts to an auditor fee of £2,640 (2022 - £2,530), and accountancy of
£1,500 (2022- £1,400).
Trustees. remuneration and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits (2022 - £NIL).
During the year ended 31 De￿rnber 2023, no Trustee expenses have been incurred (2022- £NIL).
Page 18

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Tangible fixed assets
Office
equipmant
Computer
equipment
Total
Cost or valuation
At 1 January 2023
Additions
Disposals
169
971
799
1800
1,140
799
(800)
At 31 December 2023
169
970
1,139
Depreciatlon
At 1 January 2023
Charge for the year
On disposals
169
971
1,140
67
67
(8001
(800)
At 31 December 2023
169
238
407
Net book value
At 31 December 2023
732
732
At 31 December 2022
Page 19

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Investment property
Freehold
investment
property
Valuation
At 1 January 2023
650.000
At 31 December 2023
650,000
The 2022 and 2023 valuations were not made by an independent professional qualified valuer. The
valuations were made by the Trustees, on an open market value for existing use basis. The trustees do
not consider the 2023 value of the property to be materially different from that at the prior period year end.
11. Flxed asset investments
Llsted
Investments
Cost or valuatlon
At 1 January 2023
Additions
Disposals
Revaluations
10,174,960
6,315,914
(6,443,923)
57,784
At 31 December 2023
10,104,735
Impainnent
At 1 January 2023
Charge for the year
400.278
(123,217)
At 31 December 2023
277.061
Net book value
At 31 De￿mber 2023
9,827,674
At 31 December 2022
9, 774, 682
Page 20

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Matarlal Investments
Apple Inc COM
Charities Prop Propety Fund
Citigroup Inc, 5.15 /0 Snr Emtn 21105126 GBP
CT (Lux) I Sicav Ct(Lux) Gbi Corp Bd Ngc GBP
Fedrtd Hrms Inv FHAsia Ex Jpn Eq F2 GBP
Hermes Investment Global Emerging Markets
INT Public Partner Ord GBPO.0001
Ishares li PIC USD Tips Ucits Eff GBP
Ishares V PIC MSCI Acwi Ucits Etf USD Acc
Lazard Invtmnt Fds Emerging Markets J GBP Dis
Microsoft Corp COM USDO.00000625
Royal London Bd Fd Rl Sterling
Schroder Inv Mg E, ISF Asian Total Rtn C GBP
UK(Govt ofj 4.25°/o Snr 07106132
Vanguard Funds PIC S&P 500 Ucits Etf Inc GBP
179,730
887,511
201,876
206,876
191,836
191,872
266,221
256,476
199.375
194,546
177,880
206,666
203,668
220,789
400,096
944, 059
200.480
294, 398
253, 793
196,239
194,201
1,045, 154
3,985,418
3,128,324
Total material investments for the charity total £4,858,203 (2022.. £7,209,271). Listed above is the market
value of the fifteen largest investments the charity holds at 31 December 2023.
12. Debtors
2023
2022
Due wlthln one year
Other debtors
Prepayments and accrued income
8,334
1,481
4.167
1,125
9,815
5,292
Page 21

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Creditors: Amounts falling due within one year
As r9Stated
2022
2023
Trade creditors
Other creditors
Accruals and deferred income
174
496
110,699
23,057
177,195
22, 809
133,930
200.500
14. Creditors: Amounts falllng due after more than one year
2023
2022
Other creditors
51,667
110,833
15. Flnancial instruments
2023
2022
Flnancial assets
Financial assets measured at fair value through income and expenditure
Financial assets measured at amortised cost
9,827,674
61,862
9, 774, 682
27,051
9,889,536
9,801, 733
2023
2022
Flnancial liabilities
Financial liabilities measured at amortised cost
(174.0601
(300,044)
Financial assets measured at fair value through income and expenditure comprise investments.
Financial assets measured at amortised cost comprise trade debtors, other debtors, cash and
prepayments.
Financial liabilities measured at amortised cost comprise trade creditors, other creditors, overdrafts
and accruals.
Page 22

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Prlor year adjustm8nts
The prior period figures have been restated in order to record additional investment management fees of
£33,862 and additional investment gains of £84,150. As a result of the restatement the deficit for the
period reduced by £50,288, cash at bank increased by £61,577, accruals increased by £11,537 and net
assets increased by £50,288. The trustees consider that this restatement was necessary in order to
enable the financial statements to show a true and fair view.
Page 23

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
17. Statoment of funds
statement of funds - current year
As restated
Balance at 1
January
2023
Balanco at
31
Gain81 December
(Losses
2023
Income Expondlture
Endowment funds
Endowment Funds - all fund5
10.201.977
326,821
(467,969)
362,418 10N23,247
Statement of funds - prior year
As restated
Balance at
31
December
2022
Balance at
1 January
2022
Gains/
(Loss8s)
Income Expenditure
As restated
Balance at
31
December
2022
Balance at
l January
2022
Gains/
(Losses)
Income Expenditure
Endowmant funds
Endowment Funds- all funds
12, 110,865
249, 175
(913,753) (1,244,310) 10,201,977
Summary of funds
Summary of funds - current year
As restated
Balance at 1
January
2023
Balance at
31
Galnsl December
(Losses)
2023
Income Expenditure
Endowment funds
10,201,977
326,821
(467,969)
362,418 10,423,247
Page 24

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
18. Summary of funds (continued)
Summary of funds - prior yoar
As restated
Balance at
31
December
2022
Balance at
1 January
2022
Gains/
(Losses)
Incom9 Expenditure
Endowment funds
12,110,865
249, 175
(913, 753) (1.244,310) 10,201,977
19. Analysls of net assets betw•on funds
Analysls of net assets betweén funds - Current year
Endowment
funds
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
732
732
9,827,674
650,000
130,438
(133,9301
(51,667)
9,827.674
650.000
130,438
(133,930)
(51,667)
Total
10,423,247 10,423,247
Analysis of net assets between funds - prior year
As restated
Total
funds
2022
Endowment
fvnds
2022
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
9, 774, 682
650.000
88,628
(200.500)
(110, 833)
9, 774, 682
650, 000
88, 628
(200, 500)
(110,833)
Total As restated
10,201,977 10,201,977
Page 25

THE SPOORE, MERRY AND RIXMAN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
20. Grant commitments
At the year end, there were conditional grants totalling £Nil (2022.. £7, 788) that were committed to.
21. Related party transactions
The Charity has not entered into any related paty transaction during the year, nor are there any
outstanding balances owing between related parties and the Charty at 31 December 2023.
-1￿5 Do¢urnenl
Ig
Page 26
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