THE MRS SMITH & MOUNT TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 REGISTERED CHARITY NO: 1009718 The Mrs Smith & Mount Trust 6 Trull Farm Buildiros, Tetbury, Glowestershlre GLB BSQ
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 (continued) CONTENTS Page Lègal and Administrative Information Annual Report of the Trustees Independent Examiner8 Report 12 statement of Flnanclal Ath'vlties 13 Balan Sheet 14 Notes to Ihe Accounts 15
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 20251eontlnuad} LEGAL AND ADMINISTRATIVE INFORMATION TRUSTEES: PRINCIPAL OFFICE.. T B Warren- Chairman The Trust Partnership G M Gorell Bames (retired 23 December 2024) 8 Trull Farm Buildings S W Shepley Telbury H Brooks-Plunkett Inée Whiteheadl{retired 23 Dernber 2024) Gloucestershire C Mcken2ie GL8 8SQ 8 Mullings (appointed 25 March 20241 CORRESPONDENT: INVESTMENT MANAGERS: Mrs R Bott The Trust Partnershlp 6 Trull Farm Buildlngs Tetbury GIOUster$hir8 GL8 8SQ Quilter Cheviot Senator House 85 Queen Victoria Street London EC4V 4AB BANKERS: INDEPENDENT EXAMINER: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Dunkley's Woodland Grang& Woodlands Lane Bradley Stoke Bristol BS32 4JY REGISTERED CHARITY NUMBER". 1009718
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 (contlnued> MISSION STATEMENT 'Assisting disadvantsged people towards greater Independen or a better quality of life. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2025 The Trustees pre5enl the annual report and financial statements of the charity for the year ended 31 January 2025. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's trust deed, Ihe Charitie5 A¢t 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice 2019. STRUCTURE, GOVERNANCE AND MANAGEMENT The Mrs Smith & Mount Tru8t was formed by deed on the 31 January 1992, and registered with the Chaiity Commission on 11th March 1992, as the result oflhe aMaama,On ofkn tTusls, namely The Mrs Smith Fund and The Mount Trust. The Trustees have the power lo spend or retain both capitsl and income and so the funds of the TTUSt are classed as expendable endowment, The Trust does not 8Ctively fundraise and seeks to continue its charitable work through careful stewardship of its existing resourc8S, The appointment of n8w Truste88 follows the procedure set out in the Trustee Recruitment Policy. Prospective new Trustees are invited lo apply and attend a Twstee Meeting prior lo fomial appointment for induction and training purposes. Th8 Trustees regularly review the skills required by the board in order to Carry out the obj8cls of the Trust to best effect. Trustee recruitment continues as a high priority to the Trustees al the current b'me and they are hoping to expand the board in the coming years to ensure the Trust is equipped to meet increased needs of their beneficiarie5 in the future. OBJECTIVE8 AND ACTIVITIE8 FOR THE PUBLIC BENEFIT The objects of the Trust are for such charitable PLtrposes as shall from time to time bé dètermined by the Trustees. In accordance Wlth thèir 'Mission Statement,, the Trustees achieve these objects by making grants to other regist6red charities. When reviewing the Trust's granl making policy, the Trustees confirm thal they have had regard to the guidance provided by the Charity Commission on public benefit, The Trustees seek to provide funding to charities working in their priority ar8as to deliver services to thelr tsrgel beneflciarles. The Trustees are particulady keen to support local charities and encourage applications from those who are supporting beneficiaries living in njral areas. where they may often faGe additional challenges. Trustees are also particularW interested in applications towards the strategic development of seNices, where a charity can demonstfale the need for such séNices. The Trustees carry out annual monitoring of funding provided by review of bespoke reports. During the financial year, Truslees invite a charity which had recently been supported by the Trust to join a board meeting and discuss their work and achievements. This has proved beneficial to the Trustees and has assisted in building stronger relationships bebNe8n funder and grant recipient. Also, by ensuring the Trustee board has a broad range of skills and knowledge of the priority aréas of thè Trust, th6 Trustees are confident they are in a good position lo direct their funding where it is much needed and will be properly applied.
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 (continued) Grant Maklng Pollcy From 1 Bt April 2023, the Trusl8es made significant changes lo their grant crit&ria and grant making procedurés. The Mount Fund now omprises ofa small grants programme which awards one-off grants up to the sum of£5,000 and a large grants programme which awards multi-year grants up to the sum of £25,QOO per year, over a period of bNO-three y8ars. These largeT grants are specifically for the strat8gicd&valopment of seNices. The Trustees also expanded their priority areas to include a Refuge8 and Asylum Seeker category. The Trustees allocat& a portion of their unresliicted income fund annually to be distributad in accordants with the criteria of the Mrs Smith Fund with the balancé being distributed in accordance W*h the criteria of the Mount Fund as set out below. The Mrs Smlth Fund The Mrs Smfth Fund provision is distributed by way of block grant510 be allocated by the recipients in accordan with the criteria of the Mrs Smith Fund which provided that small grants be made for the benefit of young people leaving care,, individuals r8lLtrning to the community after a long slay in residential or hospital care. individuals on stat@ b8nefits or low income who were being re-housed or., for those not eligible for help from Govemmenl funded grants, with the purchase of household fvmishings and equipment, baby equipment and clothing. Reports are provided annually by recipients on the ulilisalion of the funding provided which are considered by the Trustses before further funding 18 authorised. The Trustees keep the criteria of the Mrs Smith Fund under review and make changes 8$ required to ensure grants Continue to be used effectively and in meeting the aims of the Fund. The Mount Trust The funding provided during the year was agreed in line with the current criteria as set out below. The Trustees accepted 8pplicat(ons In line wllh their expenditure budget through thelr online appllcallon form. Applications were considered from registered charities whose beneficiaries aE In Norfolk, Suffolk, Cambridgeshire. Hertfordshire, Essex, Kert Surrey andlor London, who are working in the following areas:_ 1) 21 31 Mental Health Homelessness Community Youth Services Refugee and Asylum Seekers All charities applying must be registered wth the Charity Commission and have an income of under £1,000,0 for large giant applications and under £500,IXO for small grant applications. Homelessness charities were able to apply where Iheir income is below the above threshold after Ihe deduction of housing benefitlrental income. The Trustees do not fund building costs but will consider appeals for refLTrbishments or alterations nece8S8ry to bring a building up to standard to meet legislative requirements. National organisations are only wnsidered at branch level where Separate accounts are available. Application5 from individuals are not considered. Applications for grants are only considered if submitted via the Trust's online application lorm which is available from the Trust's webpage www.mrssmithandmounttrust,or All applications are initially assessed by the Trust Administrator and further information is requested as necessary.
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 202S {contlnued REVIEW OF ACHIEVEMENTS AND PERFORMANCE The benefit of the Trust's work was a better quality of life andlor greater independence for disadvantaged people. The Trustees mel three times in the year and a totsl of £536,192 (2024: £516,090 Restated'l was committed to tharilies in the year ending 31 January 2025. The Accounts to 31 st January 2024 have been re-6taled as they previously included grants awarded al the March 2024 meeting. The restated SOFA and Balance Sheet are contained in Note 14 to these Accounts {pages 26-28 below). The Mrs Smlth and Mount Fund's Grants There were 3 categories of grant-making during the year- the Mrs Smf(h Fund, th8 Small Grants and Ihe StrategiG Developmental Grants sometimes lled 'large grants) As well as the £30,00012024'. £30,000) ofgrant-making referred to as the Mrs Smith Fund below, during Ihe year, £251,511 (2024.. £339,590) was awarded and paid to 3412024.. 55) charities from The Mount Fund, £96,OIX (2024.. £1Q9,000) was paid as a multi-year instslmentto 8 charilies12024.' 23> frJT grants awafded in previous years. £266,198 is committed for payment during the year ending 31 January 2026, subjéct lo satisfactory reporting, and £118,983 in 2027. In 2023, the Truslees reviewed and amended their Grant Making Policy. This has seen 8 decrease in small grants awarded and an increase in the number of18rger, strategic grants awarded. The filrs Smlth Fund Each year an allocation of £30.000 is made to the 'Mrs Smith Fund, and grant5 lolalling £30,00012024. £30,OQOI are then authorised from this fiJnd, which are paid to three12024'. 3) separate charities. Details of all the grants made are found in Not8 5 of the Notes to the Finanaal Slatements. Small grants (including on8 £5,000 additional grant) 3012024.. 48) small grants were pald during Ihe year, totalling £120,500 {2024,' £201,590, plus rnulti year grants of £99,OIXsi 9 (2024.'15) grants totalling £41,500 (2024- £56,181, plus mufcl year grants of £30,500) were paid lo charities delivering cyjmmunity youth services. 712024.. 12) grants tolalling £27,500 (2024. £56,200, plus multi year grants of £2,5QO) were paid lo charities working in the homelessness sector. 1112024-. 15) grant8 tolalling £40,500 (2024.. £61,709, plus mulli year grants of £61,000) were paid to charities delivering mental health services. 3 (2024: 8) grants totalling £11,000 12024.. £27,500) were pald to charities working wth refug6es and asylum seèkers. Strateglc Developmental Grants (sometlmes oalled 'large grants ) 14 (2024.. 71 grants were paid under this category totalling £227,011 (2024. £118,000, plus multi year grants of £30,000). 312024= 1) grant totalling £50,00012024.' £15,000) was paid to a charity delivering community youth services.
THE MRS SMITH & MouTrif TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 Icontlnuedl 2 {2024.' 1) grant totslling £29,84312024 £18.500. plus multi year granl of £15,000) was paid to a charity working in the homelessness sector. 8 (2024.. 5) grants totslling £127,36812024'. £84,500, plus mulli year grant £15,000) were paid to charities delivering mental health services. 1 (2024.. nil) grants totalling £20,¢X)012024'. £nil) w6re paid to charities delivering refugees and asylum seekers services The strategic dèvelopment grants ar6 multi-year grants for a period of O-three years. with subsequent instalments paid the followng year and on completion of a satisfadory monitoring report. Additional Grants In addition lo the above. and if funds are available, 88 allowed by Ihe objects of the Trust { for such charitable purposes as shall trom time to time be detemiined by the Trustees"), the Trustees wll, where possible, award additional grants. In the y&ar ending 31 Èt January 2025, there was 112D24'. 01 additional grant awarded. There were no (2024.. £nil) Trustees, Discretionary Grants awarded this year. Breakdown of Mount Fund Funding Priority lincludlng one £5,000 additional grant) Of the grants paid, 12 wère paid to charit¢es working in Community Youth Services, 9 were paid lo charities working in the Homelessness category, 19 were p81d to charibes working in the Mental Health category and 4 were paid to eharitses working in the Refugees and Asylum Seekers category. Number of Grants by Funding Priority 20 18 16 14 12 io 12 Communlty Youth Service5 Hvmele55ne5S Mental Health Refugees and Asylum seekers Dlstrlbutlon of Mount Fund grants (including one £5,000 additional granti Of the grants paid, 19 (2024.. 271 grants lolalling £166,500 (2024: £145,655. plus multi year grants £83,500) were paid to charities working in London and 2512024.. 28) grants lolalling £181.011 12024.. £173,935, plus multi year grants £45,500) wore paid to Chartties outsidé of London. The Trustees welcome application5 for a number ol purposes, including core costs. 36 (2024. 231 grants were for ore costs, induding salaries and organisational development. 8 {2024: 321 grant8 were for project funding.
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 Iconlinued) Number of Grants by Location 19 20 18 16 14 12 io Monltorlng Monitoring is carried out one year after the date of payment of a grant or al the end of a project. whichever is soonest. Therefore, th8 r@suhs b@low mostly relate to grant funding authorised in the year ending 31 January 2024. All successful applicants are fequiTed to provide a report on the us8 of the funding provided, how il has benefited the target groups and any difficulties axperienced, plus any general feedba¢k on the application process. The Trust, where appropriate, will make changès to the application process to ensure this is as straight-foNard as possible. An online form is complet8d and returned to the Trust Monitoring forms for small grants are reviewed and graded by the Trust Administrator. Moniloring reports for large grants are allocated beeen the Trustees for review. The grades for both types of grants are induded in the meeting papers for all Trustees to view and comment on. During the year, 7312024.. 921 monitoring reports weré received. The Trust's gdministrator chases and reports to Trustees on any failures lo provided reports by grantees. en occasionally a ff port is not received, the Trustees, policy is lo d@cline to make furth6r grants to such grantee. Of the reports received 11 {2024.' 201 were graded extremely successful, 52 (2024.. 67) wère graded su¢¢essful, 10 (2024-. 4} were graded partially succ8ssful and 012024,, 1 > report was graded unsuc¢essful. Overall. the Trustees were satisfied that the grants awarded during the year were well spent and had made a positive impact on benefic4aries.
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 {continued> IMPACT When completing 8 monitoring report, the charities often share the feedback they have recetved from their service users. The feedback below was retsived during the year ending 31 January 2025, thèrefore mostly relat8S to a grant paid in the year ending 31 January 2024. ' Just wonted to Say thonk you to Alex ond the team for all the help Gs Ifeel a lot better mentally. Also feel I can cope with whutever the future holds. Tllehouse Counsglllng -we were able to heorfrom young people ubout how our support contributes to positive impoct in their lives. This included recognisino and mokin9 changes to negative behoviours in themselve5." Let Ma Know "All the stuff that ha5 happened to you in the past, It Just slips away. If you wont to tolk to them. you can. They are like o theropi5t but morefunl - Tho Klds Network he support sessions have mostly left me In a better mood than I was before them. IVY life generally has Improved since I have bgen worklng wlth ERCA. E88ex Resplte & Care A8¥oclalion 'The group help5 YOU to love yourself and be more confident." Globe CommunityProle¢t FINANCIAL REVIEW The Trust's work is dependent on Incom& from Its investments. The capital fund of th8 Trust is an expendable endowment and Is operating on a total retum basis. During the y8ar, £209,200 was transferred for grant making (2024. £339,350). The Trustees set an annual expenditure tar9et bas8d on 8 perc8ntage of the average value of the portfolio over the previous three years as a131 January. After deduction of administration costs and other liabilities the balance is then allocated for grant making. The percentage 8mount is reviewed annually and was set at 50k for the finanaal year ended 31 January 2025. Investment Pollcy and Performance The Truslees have previously Considered the ethical implication5 of their investments and h'ave resolved that they should not hold investments in any alcohol, armaments, 9ambling, or tobacco companies, or in oil and mining companieswith les5 than a Level 3 Transition Pathway Initiative Strat8gy. The Trusle8S review the investment5 held by the Trust at their meetings in conjunction with Ih&ir investment man8ger$ and work dosety in reviewing their ethical policy wrth consideration to the effect on the value of the Investment portfolio. In the year ending 31 January 2022, Trustees agreed to invest 100/0 of the Trust's portfolio in companies whose activities assist in the reduction of global warming. This has been a gradual process and at the end of the year ending 31 January 2024, this goal was achieved and 10/0 of the portfolio was invested in such companies. The investment portfolio has been structured to provide increased funding for grant making whilst protecting the capital element of the portfolio. The agreed strategy provides for the expenditure target in the short and longer term. The Trust continues to hold a diverse portfolio of fKxad interest equiti&s, and other investments in the UK and overseas.
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 {contlnued) Risk Management The Trust8es regularfy consider the risks to whith the Trust is exposed and have implemented procedures to manage and where possible, reduce, those risks. The pTÈmary financial risk to the Trust is the underperformance of investments. Thi5 is mitigated by retaining and meeting regularfy wth expert investment managers, having a diversified portfolio and, by structuring the investment portfolio in a way to ensure shortterm expenditure requirements are available in easily liquidated investments. The primary operational risk faced by the Trust is Ihe misuse of grant funding by recipients. The Trustees have. implemented procedures to manage Ihis risk by ensuring due diligence checks are arried out on applicants. Grants are onty awarded to charities registered with the Charity Commission. Trustees have also started to invite grant recipierrts to present at meetings and develop a better understanding of their work and build slronger relationships with grant reripienls. The primary govemance risk is having sufficient Trustees on the board for the Trust to run smoothly and to ensure there is a wide range of skills. Trustee recruitment is a priority for trustees al the current time. Reserves Pollcy The Trustees h8ve given consideration as to how best lo benefit th088 groups and individuals which the Trustees, policies are targeted to help in the short and longer term, and how this impacts on the balance of making grants out of income or capital. Thé Trust888 8re currently reviewing their Current level of grant-giving. The Trustees, policy is to set an expenditure target which, 8fter deduction of administration expenses and other liabilities, will be distributed by way of grants. The Trustee8 wll keep this policy under review when capital inveslrnent growth or the charitable ne&ds in the Trustees, core areas of grant giving change. The balancé held as unraslricted funds at 31 Jgnuary 2025 was £9,797,04412024: £9,189,412), of which £10,141,031 12024,. £9,318,408) was regarded as a capital fund. The capital fund is held in Investments as detailed in Note 8 of th8 financial stalemenls. Th6 income fund was in deficit at the year4nd by £343,98712024. £128,9g61. The balan of funds held in the unrestricted incorne fund includes commitments mad8 prior to the year ènd. Any addition81 balance Is carried forward for grant making in the next financial year and will contribute tc providing thè funds to meet the expendilure target sel by the Trustees annually, The designated fund was fully exp8nd&d in the previous financial year. In line with the Trustees, investment policy, a transfer will be madè from the capital fund to Ihe income fund to facililale budgeted grant expenditur8 for the year. This will be made from investsnents in fixed interest securities held specifically for this purpose. io
THE MR8 SMITH & IAOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 ontInd PLANS FOR TrIE FUTURE The Thstees have now hod the opportunty to see tre results of the SlraleglG DevelDpm9ht Grants Ilarga gran181 programme, was introduced in January 2023. Thi6 has been well received by grant reapien15 and Trustees plan lo cOntInL with their current grant cAleria for the next flnancial year, In the next tsvelve monthg Ih8 Truslee8 anticl)al6 ¢ontinunig demand on the Trust'8 re8ourco8. so th8 Tiustee8 8im lo.. prf¢)rf118e trustse reayuilmenl ancl succession plannlng. conlinug lo fooJ8 on grants which as9181 in thg 81rateglc d8velopmeTrt of servl¢&s the eAi18Tia of the Mount Fund und8r re)Ilew to gnsurè tIt st rem8ins relevant to tha aims of the Trust Continue to make giants from thg Mr6 Smth Fund at the current level monitor thYlr inve)Iments to onsure thes8 are provldlng an appr¢priats amount availablè for grant makln9 under the Mgunl Fuhd, whllst protectlng the capital in timej of increased volatility en global mork8ts to continu& to keep the processes and policle$ ol lh& Injst und8T miew, and In pthicular to conslder wh8th•rto ¢onlinu¢ thg'$mall grAnts' programrne. TRueTEE?' RE8PON8181LITIES IN RELATION TO THE FINANCtAL 8TATEMENTS The TN8tses are rosponsible for kegpillg proper accounlirrfJ record8 Ihal disdos& with reasonabl8 accuracy al any tim$ the finandal poslllon of the chaTity and lo gnable them to ensure that the flnanclal 518tsmenls Gornply wllh the Chpiiles Act 2022, the appllcablg Chgrt110s (Accountlng and Reportlng) Rogulalion¥, and tha provislona of th8 Tru51 deed. They are 8180 rasponBSblg for safeguar¢Jing the 1gSo15 ol the charfity and laklng reasonable steps for the prevention and detection of fraud and olhor 1rrogu1arids. The Tru81ees are SPOnSIble for tha mainl8rnan and Intagrty of the charlty and financial information In¢luded on the charfty'y websll$ in accordance wlth18iislalion in the United Kjngdom goveming the preparatTon and dlss8rninlon of Ilnanclal stslemenls. Approved by the Truste88 on 13 Nolernkr 2025 and 8lgned on their behalf by.. T 3 Warren Esq
THE MRS SMITH & MOUNT TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2025 Icontlnued) Independent examiner's report to the trustees of The Mrs Smitb and Mount Trust I report to the charity trustees on my examination of the accounts of The Mrs Smith and Mount Trust (the Trust) for the year ended 31 st January 2025. Responsibilities and basis of report As the charAty trustees of the Trust, you are responsible for the preparation of the accounts in accordance wÉth the requirements of the Charities Act 201 l ('the Act,). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examinatioii I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's ststement I have completed my examination. l Confirm that no material matters have come to my attention iTt connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust &8 required by section 130 of the Act; or the accounts do not accord wilh those records. or the accounts do not coniply with the applicable requirements concerning the forLn and content of accounts set out in the Charities (Accounts and Reports) Regulations.2008 other than any requirement that the accowits give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in eonncction 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. Matthew Do Dunkley's Woodlands Grange Woodlands Lane Br3dley Stoke Bristol BS32 4JY bins FCA 12
THE MRS SP4llTH & MOUNT TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025 Unrestrlcted Unrestrlcted Unrestricted unStrICted Incomè Designated Capltsl Fund¥ Fund Fund Fund 2025 Resla18d Total 2024 Nots INCOMEAND ENDOWMENTS Donations and legacYè5 Investments 3.799 184,035 176,703 176.703 TOTAL INCOME 176,703 176,703 187,834 EXPENDITURE Ralslng funds 27,324 27,324 25,566 Charitable Actwilies 800,777 600.777 575,270 Cost of grant making 600.7Y7 600,777 676.270 TOTAL EXPENDITURE 600,777 27,324 628,101 600,838 Nel g8lns on investments 1,059,030 1,059,030 563,603 Nat (Exptrndlturel I Income {424,0741 1,031,7C6 e07,632 150.601 Trnngfer b8twg8n funds 209,083 (209.0831 Net movemgnt in funds 1214,9911 822,623 607,632 150,601 Fund balances brought foward (128,9961 9,318,408 9,189,412 9,038,831 FUND BALANCES CARRIED FORWARD AT 31 JANUARY 2025 12 1343,9871 10,141,031 9,797,044 9,189,432 The figures above relats to the continuing activities of the Trust There are no recognised gains and losses in 2025 or 2024 other than those disclosed abov8. The notes on pages 15 to 27 fomi part of these accounts. A breakdown of prior year comparative SOFA fvJu¥es is shown on page 26 of the notes. 13
THE MRS SMITH & MOUNT TRLJST BALANCE SHEET AT 31 JANUARY 2025 Unrestrlcted Unrestricted Unre8trl¢tsd Incom6 ljeslgnated Capltal Fund Fund Fund Totsl 2025 Totsl 2024 Restsled FIXED ASSET INVEsfMENTS Usted VeStMentS Unll$ted Investments Cash 10,010,857 10.010,867 9,315,862 130174 TOTAL FFXED ASSETS 10.141,031 10.141,031 9.318.408 CURRENT ASSET8 Debtors Current ABsel Investm6nts Cash Al Bank and In HaTrJ 5,582 1,070 45,426 5,582 1,070 48.428 13,870 1,070 64,201 TOTAL CURRENT ASSET8 . 62,068 52,058 79.141 CURRENT LIABILITIE8 CT8dilors Duo Within One Year 10 277,062 277,062 107,637 Not ¢urr•nt Illabllltle#} {226,OQ4) 1226,0041 128,4961 Credttix8 Due In More Than Ong Year 11 118,993 118,983 IIX¢,500 NEf ASSET8 BEIMG TOTAL FUNDS OF THE CHARrrY 12 (343,9871 10,141,031 8,797,044 9,189,412 Approvgd by the Trust80¥ on 2025 and signed on thgir behalf ty. T B Warren Esq Tru$tce The notss on pages 15 to 27 form part of these accounts. A breakdrywn of PriQT year comparallve Balance Sheet figures IS shown on page 27. 14
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 ACCOUNTING POLICIES Accounting convenlion and stsndards The finanaal ststements have been prepared under th8 historical cost convention as modified by the revaluation of investments. The financial statements have been prepared in accordanr£ with the ststément of Recommended Praotice.. Accounkn'ng and Reporting by Charities ISORP 2019) and in accordants with the Financial Réporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effective for accounting periods commencing on or after 1 January 2019. The financial statements have been prepared to give a 'ttue and fair, view and have departed from the Charities {AGcounts and Reports) Regulatr'ons 2008 only to the extent required to provide a 'true and fair viev/. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Finana81 Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Trust constitutes a public benefrt entity as defined by FRS102. Assets and liabilitles are initially recognised al historical cost or transaction value unless otherwise ststed in the relevant accounting policy note, The gccounts are presented in pound sterling which is the funcllonal currency of the charity. The charity is unincorporated and is registered in England, Unlted Kingdom. The registered office is given on pag8 1 of the financial statements, Going Concern The Trustees consider that there are no material uncertalnties about the Trust's ability to contsnue as a going concem. The most significant area of uncertainty is the level of return and performance of inv8slmenl mgrkets. The income fund was in deficit at the year end due to the level of comfflilments madè prior to the year end. These commitments have been included in the budget for the current year. The Trustees set a speThYing budget for the year based on the average value of the portfolio as at the 31 January from the three previous financial years. This expenditure is funded by income from Ihe portfolio and fixed asset invaslmants held for the purpose of providing for any shortfall between income and expenditure. The Trusteès will monilor cash flow 8nd arrange for transfers from the capital nd as required throughout the year. Fund structure The charity funds are wholly unrestricted and Comprise an income, designated and capital fijnd. The capital fund is an expendable endowment which is invested to provide inGome which the Trustees are frèe to use in rthe[ance of the charilable objects. The designated fund comprised incomo from a legacy from the estate of Mrs P Spanoghe which the Trustees set aside for use in accordance with the interesls of the testatrix. This fund has now been fully expended. Income All income is recognised On the chanty has entitlernent to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliabty. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity. Ihis is normally upon notification of the interest paid or payable by the bank. Dividends are re(x)gnised once the dividend has been declared and nolilication has been received of the dividend due. This is normally upon notification by Ihe investment advisor of the dividend yield of the investment portfolio. Income from Government Securilie5 is recognised when it is received. 15
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 For legacies, entittement is taken as the earlier of Ihe date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification ha5 been made by the execLrtorls) to the Trust that a distribution will be made or,. when a distribution is received from the estate. Reipt of a legaw, in whole or in part, is only considered probable when Ihe amount can be measured reliably, and the charity has been notified of the executor's intention to meke a distribution. Where legaGies have been notified tothe charity, orthe charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Expenditure . Expenditure is'included on an accruals basis. Cosls of raising fvnds comprise those cL)sts directly attribulable to managing the investmenl portfolio and raising investmenÉ income. Gran15 payable are charged in the year in which the offer is conveyed to the recipient except in thos8 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 a commitment, but not accrued as expenditure. Where grants are payable by inslalment. payment of subsequent instalment8 is conditional on satisfactory interim progress reports. The Trustees consider it probable that satisfactory reports will be reiVed and subsequent inst21ments are not, therefore, treated as condib'onal. Support costs are those functions that assist the work of the charity but do not directly undertak8 charitable activities, Support costs include back office costs, finarn, personnel, payroll and governance costs which support the Trust's activities. Thvae costs have been allocated beeen cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 5. Listed investments Llsted investments are a form of basic financial instrument and are initially recognised at the transacllon value and subsequently mè8sured at their lair value as al the balance sheet datè using the mid-market quoted price (the difference be68rn mid-market and bid price is deemed not lo be maleriÈll. The statement of financial activities includes the nét gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire put options. derwatives or other complex financial instrumenls. The main form of financial risk faced by the charity is that of volatility in eqLÈity markets and investmenl sentiment concerning equities and within particular sectors or sub sectors. Taxatlon The Twst, belng a charity, Is nol Ilable for income tax or corkX)ratlon tax, Tax deducted from Interest received is reclaimed. Value Added Tax is not recoverable and is Included in the relevant charges for administration expenses. Debtors Sundry deblors are recognised at the settlement amount due. Prepayments are valued at the amourt repaid net of any trade discounts due. Cash at bank and in hand Cash at bank ar5d In hand includes c8sh and short term highly liquid investment with a short maluTty of three monlhs or less from the dale of acquisition or opening of the deposlt or similar account, 16
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 Creditors and provisions Creditors and provisions are recognised where the charity has 8 present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle th& obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their selllement amount after allowing for any trade discounts due. Financial Instrumenls The charity only has finanaal assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently m8asur8d at their settlemenl value. Investments are valued at fair value as. at the Balance Sheet date, a8 detailed on page 15. Al olher debtors. cash and creditors are stal8d at cost which is their fair value. Key sources ofjudgement and ests'matlon uncertalnty No significant judgements. accounting policies or assumpb'ons have been madè by management in applying the charity's accounting policies. The Trustees were advised of a legacy in the year and the estlmate for Ihis is based on information received frorn the Estate administrators. DONATIONS AND LEGACIES 2025 2024 During the 2021 the Truslees were admsed of a settlement from The Dorothy Margar8t Maggi Discretionary TDJst in the sum of £70,811. The fund$ were recelved by the Trust in March 2021 and final distribution was received in Decembér 2023, INVESTMENT INCOME 2025 Listed inve3tments Interest on short term de other int6r8St 177640 124 97 6,174 osits 163 8,563 176,703 RAISING FUNDS Investment mana ement fees 27,324 17
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2026 EXPENDITURE ON CHARITABLE ACTIVITIES Th@ charity undertakes its charitable activities through granl making and awarded grants to a nurrtrber of institutions in furtherance of ils tharilable activities. EXPENDITURE- CURRENTYEAR Institutional grants Support & governance costs Total 2025 Programme The Mrs Smith Fund The Mount Fund 30.OOCI 536,192 568,192 L__ 31,378 569,399 600,777 34,585 EXPENDITURE- PRIOR YEAR Institutional grants Support & governance ¢osts Total 2024 Restated Programme Tha Mrs Smith Fund The Mount Fund 30,000 516,090 28,008 546,090 575 270 Support cost5 are allocatecl beeen the Mr8 Smith Fund and the Mount Fund progr8mme8 proportionally based on the value of grants made. GRANTS PAYABLE 202S Reslaled Commitments made in the.year 566,192 Grants awarded in the ear 566 192 546,090 Commitments at 31 January 2024 Grants aid during the ear awarded in reviou5 ears Grants.paid durin the ear awarded in current year Grants paid durin 129,000 109,000) 339,590 -.1251,511 -(30 000J.. ....... 385 181 196,500 Grants paid during the year includes £96,000 committed in previous years. Grants payable in rnore than one year will be paid in 2027, subject to satisfactory reporting. 18
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 GRANTS PAYABLE (continued) 2025 2024 Reslaled Commitments at 31 Janua are able as follows.. P able within one Lear PaLabl6 after one ear 268,198 118,983 960 100 500 Commilrnent5 as at 31 JanuarL2025 385,181 196,500 Gr8nt commitments payable within one year comprises £100,500 committ8d in 2024 and £185,198 committed in 2025. Commitments In addition to the amounts committed and accrued noted above, the Trustees sometimes authorise rtain grants which are subject to the recipient fulfilling certain conditions. The total amount authorised but not accrued as expenditure at 31 January 2025 was nil {2024, £0) The commltments made in the year comprise: The Mrs Smith Fund.. 2025 2024 Housinqth8 Homeless Central Fund St Mun Inde endence al Home 10.000 30,000 The Mount Fund Mental Health Committed in 202510 be paid in 2026 Committed in 2025 to be paid in 2027 Awarded and paid in 202S 2024 Restated Choices Islin ton DomesticAbuse Volunteer Su ort Services Essex Res ite & Care Association ainst Blindness For Children and Youn Guild of Ps choihera isls Headwa Hertrordshire Headway Surre Home-start Ro Home-start Guildford Home-start Ro ston Home-start Watford and Three Rivers hthouse Famil Trust A Difference to Maidstone Mental Fi ht Club Menscraft Mumsaid 55,500 3,000 18,000 16,000 5,000 3.500 4,000 3,000 Makin 60,000 20,000 16,000 16.IX)O 16,000 19
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 One Vision Relate Medway and North Kent Renew Counsellin Romne Resource 3,000 5,000 5,000 5,000 SATEDA South Kent MIND Suffolk Ra e Crisis S d&nham Garden The Lu Ra ner Foundation The Pur le Ele hant Pro Ti18house Counsellin Tunbridge Wells Mental Hea51h GRANTS PAYABLÉ (contintsedl 13,055 14.360 11.868 10,OOD 4,01)0 2,500 30.000 5,000 5,000 ental Health continued Committed in 2025 to be paid in 2026 Committed in 2025 to be paid in 2027 Awarded and pald In 2025 2024 Restated Turnin Corners rin Famil Centre You Raise Me U 3,000 Wells 65,055 91.868 270,709 Committed in 2025 to b8 paid in 2026 Committed in 2025 to be paid in 2027 Awarded and paid in 2026 2024 Restated All Peo le All Places Barons Court Pro ecl Ltd ench Outreach Advice Cent Caris Camden Caris Harin Citizens Advice East Herts Communi Cha lainc Norfolk Emmaus Colchester Forest Churche5 Emergency.Nighl Shelter Greenwich Ni ht Shelter Hackne Doorwa HoEe for Soulhall Off The Streets Renewed Ho herds Bush Families Pro The 999 Club TheHo eHub The Margins Pro ect The Upper Room St Saviours Vineyard Comfflunity Centre 5,000 Canlerbu Housin 17,623 4,000 3,000 12.020 10,000 5,20D 5.000 5,000 3,000 5,000 She 5,000 5,000 5,000 29,643 17,623 52,143 116,700 20
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 GRANTS PAYABLE Youth Service5 continued Communi Committed in 2025 to be paid in 2Q26 Committed in 2025 to be Pa in 21y27 AVled and pald in 2025 2024 Restated 21 Together Aclivteens BIGKID Foundalion Brighter O ortunities for sp.ecial P8ople.{BOSP) Carne 's Communit and Alcohol Recove Services Dandelion Time Eat Club E P Youth Ltd GASP Motor Pro ect H8rts Indusive Thealre Home- Stsrt Dover Home- 8lart Norfolk Hounslow Action for Youth Let Me Know Life and Soul Re enerate Carers and Families To ether Teen Enter rise The ACE Pro ect risin Youth Walk Tall The Kids Network The Swan Youth Pro Tools 4 Teens Waltham Abbe Youth 2000 Vvaltham FoTest Mi rant Action Ytsun Peo le TÈkin Action 5,000 20.OCX) 15.0 Communit Dru 15,000 2,500 3,000 4.000 45,000 5,000 ortin 3.000 4,000 4,000 105181 Refu ee and As lum Seekers Comrnitted in 2025 to be paid in 2026 Committed In 2025 to be paid in 21T27 Awarded and paid in 2025 2024 Restated CARAS Enfield Somali Communit Association Globe Communit Pro ect Harin rant Su ort Centre 151in lon Cenlre for Refu&ees and Mi rants Kazzum Arts Pro ect Room lo Heal Salusbur World Waterloo Communit Counsellin 20,000 20,000 4,000 4,500 3.000 20,000 23.500 Discretiona ranl-Lantern Trust Red Cross Ukraine A eal Total grant makin from the Mount Fund 165,698 118,983 251,511 516,090 21
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 Occasionally, if funding allows, the Trustees will make grants in response to nati(al and international disasleis. Whilst the Trustees made no such grants in this finan(ial year (previous financial year - £nill they were mindful of the Coronavirus pandemic in the UK, and the impact on charits'es, when considering their grant making. ANALYSIS OF SUPPORT COSTS The breakdown of support costs and how these were allocated been The Mrs Smith Fund and The Mount Fund is shown in the table below. SUPPORT COSTS- CURRENT YEAR Mrs Smith Fund Thè Mount Fund Total 2025 Administration fees G0Veman costs Membershi subscri 1.378 8,472 126 tion 126 33,207 Governance costs.. Accountanc fees Inde endenl Examination fe88 Professional fees other costs 1,296 205 ANALYSIS OF SUPPORT COSTS Iconllnued) SUPPORT COSTS- PRIOR YEAR The Mount Fund Total 2024 Reslaled Smith Fund Administration fees Govemance costs Membershi subscri 20,175 6,755 tion 1,172 28,008 29.180 Governance costs.. Accountan Independent Examination fees Professional fees Oth8r cosls 1.800 190 1.021 Support costs are allocated beleen the programmes based on the value of grants paid. Governance costs are allocated on the basis of the actuai costs inCued on each type of activity. No Trustee received any remuneration from the Trust. The trustees are considered key management personnel.
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 TRANSFERS BETWEEN FUNDS There was a transfer from the Unrestricted Capital Fund to the Unrestricted Income Fund of £209,083 {2024, £339,308) for grant making in the year. The Trustees set a spending target at the beginning of each financial year. Any shortfall btheen anticipated incom8 and expenditure 18 funded by transfers from the capital fund to the income fund. FIXED ASSET INVESTMENTS 2025 2024 Market valu8 at 1 Februa Additions at cost Dis 05al roceeds Unrealised and realised gains Transfer from I cash 2024 93184i18 1,160,635 1524 607 1,059,030 127 565 9 119679 1,020,759 1282,243 563,603 103.390 Market value 8t 31 Janua 2025 10,141031 9,318408 Historical Cost as at 31 Janua 2025 7A88 206 7,105,817 BREAKDOWN OF INVESTMENTS- CURRENT YEAR 2026 Total UK Overseas Listed investments: Equities Fixed interest Alternatives Unlisted investments.. Cash 994,285 2,516,505 591,386 5,908,701 6,902,966 2,516,505 591,386 130,174 130,174 4,232,330 5,908,701 10,141,031 23
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 FIXED ASSET INVESTMENTS (continued) BREAKDOWN OF INVESTMENTS- PRIOR YEAR 2024 Total UK Overseas Listed investments.. E uities Fixed interest Alternatives Unlisted inveslmenls: Cash 924,371 2,235,766 733,110 5,422,S15 6,346,986 2,235,766 733 110 2,546 2,546 3 895 793 5 422615 9 318,408 DEBTORS 2025 2024 Tax reclaimable 10 CREDITORS FALLING DUE WITHIN ONE YEAR 2025 2024 Restated Grants A¢xruals able nole 5 96,000 11,637 10,864 277 062 107,637 11 CREDITORS FALLING AFTER MORE THAN ONE YEAR 2026 2024 Restated Grants pay8b18 Inole 5) 118983 100,500 12 FUNDS The Trust Fund is wholly unrestricted For rnanagement purposes, the Trustees have designated that Ihe Trust's capital and capital profits will be retained and carried forward in a Capital Fund except for specific occasions when a transfor from tha capital fund to income fund will be made to utilise some of the invastment portfolio's capital gains for grant making. The Income Fund and income profits aro utilised for making annual grants. The Trustees Report identifies that the Trustees split income into funds for grant making PUTposes, the Mrs Smith Fund and Th6 Mount Fund. 24
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY202S SUMMARY OF FUNDS- CURRENT YEAR Brought forward Income Expenditure Gainsl (losses) Translers Carried forward unStriCted ca ital fund 9,318408 27,324 1,059,030 209,083 10,141,031 Unrestricled desi naled fund Unrestricted income fund 128.996 176703 600,777 343 987 9,189,412 176,703 (628,1011 1,059,030 9,797,044 SUMMARY OF FUNDS- PRIOR YEAR (Restated} Brought forward Income Expendrture Gains/ Ilossesl Transf8rs Carried forward Unrestrlcted tal fund 9,119,679 25,566 563,603 339 308 Q 318,408 Unrestricted d881 nated fund Unrestricted incorne fund 80,868 187834 575,270 339 308 128996 9.038,811 187,834 (600,836) 563,603 9,189,412 13 RELATED PARTY TRANSACTIONS There were no related party transactions during the y8ar. In the previous year Hope in Tottenham received Ihe second instalment of their t0-year grant, which amounted to £7,5W. A trustee, H8nnah Brooks-Plunk8tt Inée Whiteheadl, is an employee of Hope in Tottenham. The grant was awarded in the financial year ending 3191 January 2023 where standard procedures were followed. No expenses were reimbursed to Trustees12024. £19010 one Trustee). 25
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY2025 14 PRIOR YEAR COMPARATIVE FIGURES RESTATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JAN 2024 THE MRS SMITH & OnOUNT TRUST STATEMENT OF FINAP4CIAL AcTIVlEs FOR THE YEAR E14DE0 31 JANUARY 2024 Ut)ro$trl¢t•d Llnr8$trl¢tsd Unro$trl¢ted In¢om¢ D¢$lgnalg4 Copltal Fund Fund Fuftd UDreslrlcto Funds 2024 21123 INCOME AND ENOOWMENTS Oonallons and IbgHck88 Invaslmantg 3.789 1B4.038 3,799 184,035 160873 TOYAL INCOM 1B7,8Jd 187034 180,273 EXPENDITURE Rahlno fund* 25.see 25,566 26,108 a)8rN8bla Acti%ll86 575.270 575,27Q 487,722 C¢$iefgr•ni m•king 575,27 575,2711 4J7,722 TOTAL EXPENDITURÉ 070.270 25,B86 600,838 113,SJO NBtgalns I ILo55es1 on InY88lmBnts 883.803 se3,603 13N,9821 NBt IExpondlluToI I Incorn• 1387,4361 538,037 1SO,601 1668,6391 Tr•thtyler belweèn lund¥ 339,¥¢8 (239,3081 N¢1 mtsvèmènt lrt fund• 48.12BI q#8,729 160,601 18Sa.5391 Fund balon¢w brouohllowr 180,8681 9,119,879 9,038,811 9.6S7,350 FUND BALANCES CARRIEP PQRYVARD AT 31 JANUARY 21124 42 1fj28,9981 a.J18,408 9,189,412 9,038,B11 Tho fiouro6 rel¢ io thè oonllnulng actl%it8 of Tt There Bre no rBwgnlsed galns ond109seg in 2024 or2023 olhor tr8nthoae di$dwed above. Th¢ nDt¥s ¢n p8u¥s 15 t¢ 27 fom pam 01thtr a¢wunt& A bro8kdw ol prlor yaar compar1¥0 SOFA ftgureJ Ib ahe>wn M paga 28 of thè not•ts. 26
THE MRS SMITH & MOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 THE MRS SMITH & MOLINTTRUST STATEMENT OF FINANCIAL ACTtVlTIES FOR THE YEAR ENDED 31 JANUARY 2024 Unrestrlctsd Unrestrlctsd Unr•strlctod Unr98trlctsd Income D•slgnated Capltal Funds Fund Fund Fund 2024 Tofal 2023 Notè INCOME AND ENDOWMENTS Donations and legades Inve51ment8 3,799 184,035 3,799 184,035 160,273 TOTAL INCOME 187.834 187.834 160,273 EXPENDSTURE Raising funds 25.568 25.586 26,108 Charftabla Actlvtttes 575,270 575,270 487,722 081 of grant Making 678,270 676.270 487,722 TOTAL EXPENDITURE 574270 25.586 600,836 613,830 Nel gains I Ilossesl on inveslmenl6 563,803 5e3.803 {304.9821 Net {Expèndltur•l I Income 1387,436) 538.037 150,801 (658,S391 Transhr botw••n funds 339,308 {339.3081 Nèt movamgnt In lunds 148,1281 198,729 150,601 1658.5391 Fund b81onces brought foward 180,8681 9,119,679 9.038,811 9,697,350 FUND BALANCES CARRIED FORWARD AT 31 JANUARY 2024 12 {128,9961 9,318,408 9,189,412 9,038,811 The figuros above relate to tt)e eonb'nuinu actlvilie5 of the Trusl There are no recognised gains and 1055es in 2024 or 2023 other than tho86 dlsolosed above. Tha notes on pages 15 to 27 fomi parl of Ihese account8. A breakdown of prior yèar comparattve SOFA figures 18 shown on page 26 of the notes. 27
T14E MRS SMITH & NOUNT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 THE MRS SMITH & MOUNT TRUST BALANCE SHEEr AT 31 JANUARY 2024 Unrestrirted Unrestricted UnrestfiCt8d Income Deslgnatad Capital Fund Fund Fund Totsl 2024 Total 2023 Note FIXED ASSET INVESTMENTS Listed investment8 Unlisted inve5trnents C88h 9,315,862 9,31 S,862 9,D13,386 106293 TOTAL FIXED ASSETS 9,318,408 9.318A08 9,119,679 CURRENT ASSETS Debtors Current Asset Investmen Cash Al Bank and In Hand 13,870 1,070 64,201 13,870 1,070 64,201 7,599 1,070 50,516 TOTAL CURRENT ASSETS 79,141 79,141 59,185 CURRENT LIABILITIES Creditors Due Within One Year 10 107,637 107,637 140,053 Net current {Ilabllltle81 128.4961 128,496} 180,868) Credllors Due In More Than On6 Year 11 100,500 100,500 NET ASSETS BEING TOTAL FUNDS QF THE CHARITY 12 1128,9961 9.318A08 9.189,412 9,038,811 28