REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 30 April 2024 |
for |
M A B Charitable Trust |
(A Company Limited by Guarantee) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 30 April 2024 |
for |
M A B Charitable Trust |
(A Company Limited by Guarantee) |
M A B Charitable Trust |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Report of the Trustees | 1 |
Independent Examiner's Report | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 | to | 5 |
Cash Flow Statement | 6 |
Notes to the Cash Flow Statement | 7 |
Notes to the Financial Statements | 8 | to | 13 |
M A B Charitable Trust (Registered number: 08043568) |
Report of the Trustees |
for the Year Ended 30 April 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2024. The trustees have adopted the provisions of 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). |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
A Bougara School Teacher |
Dr K I J Al-Ani Medical Doctor |
B Naas HR And Office Manager |
Dr A F Helmy |
E H Kenawy Project Manager |
Company Secretary |
Independent Examiner |
Shoakat Zaman |
Eccounting UK |
AR Business Centre |
12 The Crofts |
Rotherham |
South Yorkshire |
S60 2DJ |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
M A B Charitable Trust |
Independent examiner's report to the trustees of M A B Charitable Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Financial Accountants, which is one of the listed bodies. |
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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across 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 accounts to be reached. |
Shoakat Zaman |
The Institute of Financial Accountants |
Eccounting UK |
AR Business Centre |
12 The Crofts |
Rotherham |
South Yorkshire |
S60 2DJ |
24 February 2025 |
M A B Charitable Trust |
Statement of Financial Activities |
for the Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 844,854 |
M A B Charitable Trust (Registered number: 08043568) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
CURRENT ASSETS |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 15 |
Unrestricted funds | 844,854 |
TOTAL FUNDS | 844,854 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
M A B Charitable Trust (Registered number: 08043568) |
Balance Sheet - continued |
30 April 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
M A B Charitable Trust |
Cash Flow Statement |
for the Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 60,515 | 107,340 |
Net cash provided by operating activities | 60,515 | 107,340 |
Change in cash and cash equivalents in the reporting period |
60,515 |
107,340 |
Cash and cash equivalents at the beginning of the reporting period |
485,619 |
378,279 |
Cash and cash equivalents at the end of the reporting period |
546,134 |
485,619 |
M A B Charitable Trust |
Notes to the Cash Flow Statement |
for the Year Ended 30 April 2024 |
1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
30.4.24 | 30.4.23 |
£ | £ |
Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) |
(14,044 |
) |
2,983 |
Adjustments for: |
Depreciation charges | 74,558 | 75,357 |
Decrease in debtors | 1 | 30,000 |
Decrease in creditors | - | (1,000 | ) |
Net cash provided by operations | 60,515 | 107,340 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.5.23 | Cash flow | At 30.4.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 485,619 | 60,515 | 546,134 |
485,619 | 60,515 | 546,134 |
Debt |
Debts falling due within 1 year | (32,540 | ) | - | (32,540 | ) |
(32,540 | ) | - | (32,540 | ) |
Total | 453,079 | 60,515 | 513,594 |
M A B Charitable Trust |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Depreciation/amortisation is charged at following basis: |
Freehold building - 2% at cost |
Leasehold property improvements - over lease period |
Plant and machinery- 25% reducing balance |
Fixtures and fittings - 25% reducing balance |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
M A B Charitable Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | DONATIONS AND LEGACIES |
30.4.24 | 30.4.23 |
£ | £ |
Donations |
3. | INVESTMENT INCOME |
30.4.24 | 30.4.23 |
£ | £ |
Rents received |
4. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities | Support |
(see note | costs (see |
5) | note 6) | Totals |
£ | £ | £ |
Charitable activities | 105,076 | 779,622 | 884,698 |
5. | GRANTS PAYABLE |
30.4.24 | 30.4.23 |
£ | £ |
Charitable activities | 105,076 | 147,893 |
6. | SUPPORT COSTS |
Governance |
Management | Finance | costs | Totals |
£ | £ | £ | £ |
Charitable activities | 762,454 | 4,227 | 12,941 | 779,622 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.4.24 | 30.4.23 |
£ | £ |
Depreciation - owned assets |
Other operating leases | 26,165 | 21,923 |
M A B Charitable Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
9. | STAFF COSTS |
Staff costs during the period were £226,276. |
10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 841,871 | - |
TOTAL FUNDS CARRIED FORWARD | 844,854 | - | 844,854 |
M A B Charitable Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
11. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | Plant and | and |
property | property | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2023 and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other debtors |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other loans (see note 14) |
Accrued expenses |
14. | LOANS |
An analysis of the maturity of loans is given below: |
30.4.24 | 30.4.23 |
£ | £ |
Amounts falling due within one year on demand: |
Other loans | 32,540 | 32,540 |
M A B Charitable Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
15. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.5.23 | in funds | 30.4.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 844,854 | (14,044 | ) | 830,810 |
TOTAL FUNDS | (14,044 | ) | 830,810 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 870,654 | (884,698 | ) | (14,044 | ) |
TOTAL FUNDS | ( |
) | (14,044 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.5.22 | in funds | 30.4.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 841,871 | 2,983 | 844,854 |
TOTAL FUNDS | 841,871 | 2,983 | 844,854 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 799,846 | (796,863 | ) | 2,983 |
TOTAL FUNDS | 799,846 | (796,863 | ) | 2,983 |
M A B Charitable Trust |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
15. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.5.22 | in funds | 30.4.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 841,871 | (11,061 | ) | 830,810 |
TOTAL FUNDS | 841,871 | (11,061 | ) | 830,810 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,670,500 | (1,681,561 | ) | (11,061 | ) |
TOTAL FUNDS | 1,670,500 | (1,681,561 | ) | (11,061 | ) |
16. | RELATED PARTY DISCLOSURES |