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 m0Ven￿nt 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 F￿ancial 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 St￿ling 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).. D￿ect 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 sta￿t0￿,
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 Invest￿entS
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 obli￿￿0￿ 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 state￿￿nt 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 PU￿0$eS. Tlie c05t5 01 raising and
adn]Inist￿lng 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 ￿ra1￿￿ted
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 m￿Y 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￿]11￿cr 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 se￿IceS 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 t￿stee of die trust.
Page15