The Mcclure Fund Statement of fmancial actlvlties For the year ended 30 June 2023 Restticted fiinds 2023 Total fiinds 2023 Total funds 2022 Note Income from. Investments 333 333 483 Total income 333 333 483 Expenditure on: Cliarltable ictivities: Direct costs 1,471 3,616 1,471 3,616 279 Goirernance costs 1,774 Total expendituro 5,087 5,087 2.053 Net expenditure before net gainslllosses) on investments (4,754) 775 (4,754) 775 (1,570) (1.996) Net gains/Oosses) on investments Net movement in funds (3,979) (3,979) (3,566) Reconciliation of funds: Total funds brouglit foThvard Net m0Vennt in fiLnds 24,438 (3,979) 24,438 (3,979) 28,004 (3,566) Total funds carried forward 20,459 20,459 24,438 All atnounts relate to contiouing opeiAtions. The Statement of financi312ctiVities indudes 2ll g2ins 2nd losses recogniscd in the }reat. The notes on pages 9 to 15 form part of these financial statements. PaJe 7
The Mcclure Fund Balance sheet For the year ended 30 June 2023 2011 2022 Note Fixed asset5 Investmcnt5 22,767 24,423 Casli at bank ind io Iiand 92 615 92 615 CIeditots: amounts falling due ivithin one yeAr (2,400) (600) Net current liabilities l assets (2,308) 15 Total net assets 20,459 24,438 Charity funds Restticted Eunds io 20,459 24,438 Total funds 20,459 24.438 Tlie financiAI statement5 liAve been prepared in accordance ivitli dic provisions of FRS 102 Section IA entities. sniall Tlic financkTrl st2tements ivere approved and Audiottsed for issue by die Trnsiee on 29 AprAI 2024 2nd signed on tlieir be1111f b},: Cleaver Fiilto (rtustee) ankin Triistees LAmited Tlie notes on pages 9 to 15 form part of these flllancial statements. P8Je 8
The Mcclure Fund Notes to the Fancial statements For the year ended 30 June 2023 General Information Tlie lfvIcClure Fund is an unincorporated trust. It5 PtiIICiP21 office is 50 Bedford Strect, Belf2St, BT2 7FIII, nd it has a cliAnty registr%tion numbcr of 103781. Aceountlng pollel•s 2.1 Basis of preparation of financial statements Tlie financial statements Are pIcparcd on a going concun basts, undci the historAcal cost convention unless otl)eThvise noted in the accounting policies belmv. Tliey liave been prepared in Accordance ivitli 2pp]icable laiv and accounting standArds issued b}, tlie Financi21 Reporting CouThcil, including fRS102 '1£ FinAncial Rcporting Standard Applicable in tlie UK and Republic of Ireland" C'FRS102'), and tlie Statement of Recommended Practice- Accounttng 2nd Reporting by Charities, effectiir l Januati, 2019 C'SORP.?. The financial statements are pttpared in Stling W. The fvIcClure Fund con5titutcs a public benefAt entity as defmed by FRS 102. 2.2 Goittg concem The ttustees hAve assessed tliAt"fhe hlcclure Fund has adequate resources to ineet the ongoing costs of tlie entsty, Eor a minimum of 12 mondis from tl)e date of signing die fmanciAI statements. For d]is Icason dic financtal stAtcmcnts hairc bccn preparcd on a going concern basis ivliicli presutnes the realisation of assets and liabilities in tlie normal course of busitLes5. 2.3 Itscome Income arises from dividends and interest on investments, as ivell a5 the pioceeds froin die periodic disposal ol investment hdd. Income tAX recoverable in relation to inve5tmeot income AS recognised at the time the investment income is receivable. Investment incomc is includcd ivhen receivAbl 2.4 Expenditiire Expendituie ts rccogniscd oncc tliere ts a legal or constructiire ob]igauon to transfer economic benefit to R third part),. it is probable that a transfer ol economic benefits ivill be required in settletnent and the amount of the obligation can be measured reliAbl}'. Expenditure is classified b)p Activity. Tlie costs of each activits, are made up ol the total of ditect costs and sliAred costs, including support costs iniTolired in undert2king e%ch activit).. Dect costs attributablc to a single actiirAt)' are allocated directl}, to tliat actiiTIt)'. Shared costs ivhicli contribute to more djan one actiwty and support costs ivlllcEi are not ttsibutable to 3 single activityF are apportioned betrveen those actlvities on a basis consistent ivitli tlie use of rcsources. Central staff costs 2re allocated on the basis of time spent, and depreciation charge5 allocatcd on the portion of the asset's USC Goiiernance costs include those costs associated ivith meeting tlie constitutional and stat0, iequirements of the twst. All expenditure As indusive of irrecoverable VAT. Paae 9
The Mcclure Fund Notes to the fmancial statements For the year ended 30 June 2023 Accounting policies {continued) 2.5 InvestentS Fiyed 25set ffinvestmcnts arc a foim of financLqI mstrument and are initially rccoRni5ed at dicir transactton C05t subsequentljt measured at fair i'Aluc at die BalAnce slieet d1te, unless tl)e value cinnot be measured retiAbl)' in ivliidi case it ts measured at cost less impLiirmcnt. IniTestsncnt gTrins qnd losscs, vliether rcaEiscd or unreAlised. are combined and prc5cntcd as 'Gain5/(Lo ) on inirestments, in tEie sses StAtement of fmancial activities. 2.6 Cash at bank and in hand Cash at biqnk And in 112nd includes casli and slioit-tcrm Iiigld), liquid Aniyestnients sliort niaturit), of tliree months or less from tlie date of acquisitioti or opening of die deposit or 5imi]ar account. 2.7 Liabilitie5 and ptovisions LiAbilities qre recognised ivl)en tliere is an obli0 tlic Balance slieei date as A ¥esult ol A P1¢ St eiTeot, it is piob4ible tliRt a trAnsFcr of econonuc benefit ivill be required io 5Cttlcincnt. alld tlic alliount OE die settlcmeTht can be estimated reliably. Liabilities ire recognised xt tlic amount diat dic Tilist anticipAtes it ivill pa)t to settle tlie debt or tlie 1mount it has ieceiired as advanced pa}Imen(s for rlie goods or services it inust provide. Provision5 arc mcA5ured at die best estimate of t])e Amounts iequired to setde tlie obligatioti. Ivliere die effecr OF tlie ume value of money is materiAI, tlie provision is based on tlic picscnt ITaluc OF tliosc Amounts. di5coiinted at tlie pre-tax discount rate diat rcflects thc risks specific to die liabÉlity,. Tlie univinding of tlie dÈscount is rccognÉsed in thc statent OE financial activities As a ffjnance cost. 2.8 Fiirtid accoiinting General Funds rc unrestricted funds ivlucl) are aii4iilAble for usc at die discretkon OF tlie Trustee iti fuidierance of tlie general objective5 of tlie Trust and Trvl)icl) l)ave not beetk desi£niitcd For otliet purposes. Restricted tunds are funds which are to be used in AccoIdAnce ividi specific restrictions imposed by donois or ivhich have bccn rai5cd b). d]e Tiust for particular PU0$eS. Tlie c05t5 01 raising and adn]Inistlng sucli fiinds are cliarged xgNin5t the specific fund. The aim and use ol eacli iestricted fund is set out in the notes to the finaThaal statements. Pag810
The Mcclure Fund Notes to the ffftancial statements For the year ended 30 June 2023 Critical accounting estimates and areas of judgement EstimAtes and judgements Are rcquircd ivhcn appl)ryng %ccounting policies. Tl)ese are continu%ll}T ra1ted and are based on liistoric21 eNperience and other factoIs. AndUdts expectations of fututc eirThts tliat arc believed to be ieason2ble under die circumstances. The twst makes estimates and assumpuons conceining dic futtirc, Ivlllcli can in&ToIITe 2 Iiigh degree OE judgcmcnt or complexit),. The rc5ulting accounting estimates ivill, b), defimtion, 5eldoin equal die re12ted actual results. Ilie estimates 2nd assumptions tliat liaye a significafit risk of causing a mateiial adjustment to the carrying Xmounts of assets 2nd liabilities ivithin the next fmancixl year are addressed beloiw. Fait valiie of investments Uses varAOUS valuation tecliniques to determine die fair value of financial instrumcnts (Ivhete active m*Lket quotes are not av2ilAble) and non-fthanuAI assets. Tl)is involves developing estimates and assumptions consistent ivith lioiv market participants ivold price tlic instrumcnt. The tru5tcc bases its aS5uinptions on obseLvabk data As far as possible but tliis Ès not aliva)TS available. In diat case. m2nagement uses tlie best information AvRilable. Estimated fatr values mY iTary from die actu%1 pnces tliat ivould be Acl]ieved in An arm's length transaction at the reporting date. Investment Incomè Restticted fiinds 2023 Total nds 2023 Listed investments 333 333 Total 2023 333 333 Rc5trictcd funds 2022 TotAI Eunds 2022 Listed investments 483 483 Total 2022 483 483 PwJe11
The Mcclure Fund Notes to tlie ffftancial statements For the year ended 30 June 2023 Analysis of expenditure on charitable activitles Siinimary by fiind type Restticted fiinds 2013 Total 2023 DisbuIsemetLts to beneficiary Inlrestment expcn5CS LegAI nd professional fees 1,471 292 1,471 292 3,324 3,324 Total 2023 5,087 5,087 Restricted funds 2022 Total 2022 Dtsburseinents to beneficiary Initestment eNpcnscs Legql qnd professional fees 279 279 436 436 1,338 1,338 Totil 2022 2.053 2,053 Independent examiner's remuneration 2023 2022 Fees payi¢ ble to tlie TKust's Éndependent ex]11cr for thc indcpcndcnt ex1minauon of tlic Truses annuAI accounts 1,800 600 Resources expended During die stear. no Trustees receivcd An}r remunerAtion (2022 _ £NIL). During dic )Tcar, no Trustees recekved an), benefits in kind (2022 - £NIL). During tlic Jreat. no Trustccs Ieceived Any ieimbursement of expenses (2022 _ £NIL). As detailed in Note 11 the Trustees received Iemuncration for seIceS rendered to tlie Trnst in die current }iear. Page12
The Mcclure Fund Notes to the ffftancial statements For the year ended 30 June 2023 Fixed asset investments Listed investments Cost ot valiiation At l July 2022 Additions 24,423 14,043 (16,474) 775 Disp05a15 Rthraluations At 30 June 2023 22,767 Net book value At 30 June 2023 22,767 At 30 June 2022 24.423 Creditors: Amounts falling due within one year 2023 2022 Accruxls and dcfeIrcd income 2,400 600 P4e13
The Mcclure Fund Notes to the fmancial statements For the year ended 30 June 2023 10. statement of funds statement of funds - current year Balancc at I Jiily 2022 Gains/ Balance at ($8¢8) 30 Jun¢ 2023 Incomc ExpcndÉturc Restticted fiinds Restricted Funds - all funds 24,438 333 (5,087) 775 20,459 statement of funds - prior year Balancc at l Jui)1 2021 GAins/ Bilance t (Losses) 30 June 2022 Income Expenditure Restticted fiinds Restricted Funds - All funds 28,004 483 (2,053) (1,996) 24,438 Pagè 14
The Mcclure Fund Notes to the financial statements For the year ended 30 June 2023 Analysls of net assets between funds Analysls of net assets between funds - current year Restricted fiiiids Total furtids 2023 2023 Filed asset investments 22.767 92 22,767 92 Current assets Creditors due ivithin one yeor (2,400) (2,400) Total 20,459 20,459 Analysis of net assets between funds - prior year Restricted funds 2022 Total funds 2022 Fiyed Asset investments Current Assets 24,423 615 24,423 615 Creditois due ivithin one year (600) (600) Total 24,438 24,438 12. Related party transactions During tlie )rAr to 30 June 2023 legal fees of £1.445 (2022: £990) ivere paid to Cleailer fulton Rankin solicitors. Cleaver Fulton Rankin Tru5tccs LAmitcd is tIIc 501e corporate tstee of die trust. Page15