MERCURY PHOENIX TRUST Trustees, Report and Unaudited Financial Statements for the year ended 31 March 2025 Registered Charity Number l 013768
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEX Page Charlty Information Trustees, report Independent examiner's report statement of financial actlvSties Balance sheet Statement of Cash Flows Accountlng pollcles Notes to the financial statements 11
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CHARITY INFORMATION Trustees M Austin (resigned 30 January 2025) H J Beach BHMay R M Taylor Princlpal office Mercury Phoenix Trust 2nd Floor 88190 Baker Street London W1U 6TQ Registered charity number 1013768 Independent examiner Katie Wilson FCA Blue Spire Limitad Cawley Priory South Pallant Chichester West Sussex P019 1SY Banker Coutts & Co 440 Strand London WC2R OQS Page 1
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES, REPORT The Iruslees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 31 March 2025. The Iruslees have adopted the provisions of the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charilles" IFRS 102) in preparlng the annual report and financial statements of the charity. STRUCTURE GOVERNANCE AND MANAGEMENT The Mercury Phoeiiix Trust is a registered charity consliluled under a trust deed dated 29 July 1992, and registered as a ch8rily 18 August 1992. The power to appoinl and remove Trustees is vested in the Trustees and exercised by deed. A Trustee may retire by notice in writing. The number of Trustees shall be nol less than three nor more than four and in the event of their number falling below three, such addition81 Trustees or Trustee shall forthwith be appointed as shall be necessary to make their number up lo a maxlmum of four. The Trustees are responsible lor authorising grant payments, for ensuring all grants ar8 made in pui'suance of the objectives of the Trust and for ensuring the objectives of the Trust are mel The Trus18es are responsible for identifying and reviewing the major risks to which the Trust is exposed and confirm that, as far as is possible given Ihe nature of the gi'ant payments and locations lo which they are made, arrangements have been established to miligale those rlsks. Key management personnel remuneration The Trustees consider the board of Trustees and the self-employed adminislralor as comprising the key management personnel of the charity in charge of directlng and controlling the charity and running and operating the charity on a day lo day basis. The Iruslees give of Iheir time freely and no trustee remuneration or expenses w8re paid in the year 12024.. £nil) wilh Ihe 2dministralor's rate being sel al an amount for comparable roles within similar organisalions. OBJECTIVES AND ACTIVITIES The charity's objects are: l) To relieve Ihe poverty, sickness and distress of people with Acquired Immune Deficiency Syndrome {AIDS) and Human Immuno-Defici8ncy Virus (HIV) 11) To advance the education of the public in general in the above conditions, their transmission, Irealmenl and consequences 1111 The pi'ovision, support and maintenance of research into the causes and cure of and hospice seNices and other facilities for the Irealment of aiid alleviation of the suffering of persons with the above conditions IV) The conduct and supporl of research into the causes and cure of the above conditions, together with olher medical condi1Sons related lolassocialed with or otherwise alliedllinked to AIDS andlor HIV In pursuance of its objects, the charity's income is applied in the awarding of grants which are considered to be in accordance with the Trusl's objectives. The Trust has eslablished ils granl making policy to achieve these slated objectives for the public benefit. The Charity's grant making pollcy can be found on the website al .mercu hoenixtrusl.or Isilel rants. The trustees confirm Ihal they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's objectives in planning ils future activities and agreeing ils grant making for the year. ACHIEVEMENTS AND PERFORMANCE During the year, donations of £813.382 (2024.. £939,191) were made to charities and similar bodies whose objectives promote awareness of, and the fight against, AIDS. There was a deficit for the year of £374,672 12024 deficit.. £532,924). The Trustees are pleased with the TrLlSt's performance during the year and believe its conslstent awarding of grants to entities and bodies which are seeking lo help relieve poverty, sickness and distress of people with AIDS and HIV demonstrates a public benefit. Page 2
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES, REPORT The Trustees m88sure the performance of the Trust by assessing the value and nature of grants awarded during the financial year. The Trustees consider the value and nature of grants awarded this year lo be appropriate and Consistent wilh the objectives of the Trust. FINANCIAL REVIEW The Trustees aim to mainlaln a level of reseNes at least equlvalent lo approximat81y 3-4 years, worth of grant payments in order to allow the Trust to continue In existence for the foreseeable futur8 in the event that no further income is received. The Trustees regard this as being in the best long-lerm interests of the current and future beneficiaries. ReseNes as at Ihe year-end total £1,858,996 {2024'. £2,233,668). The Trustees are salisfied that the Gharity's assets are availab18 and adequate lo fulfil ils obligations in relation lo those funds. Ris1( man8gement The Trustees have assessed the financial risk managernent objectives and policies of the Trust. The exposure of the Trust lo price risk, credit risk, liquidity risk, and cash flow is considered not material for Ihe assessment of the assets, liabilities, financial position and surplus of the Trust. Investment policy and performance Given the short-lerm nature of the Trust's grant-making aclivilies, the Trustees have decided lo invest immedlately any surplus funds in UK-based deposit accounts wllh a reputable bank. The deposit accounts offer security and ease of access to funds, together wilh a market-based interest rate. PLANS FOR FUTURE PERIODS The Trustees aim to achleve the Trust's long-lerm objectives of assisling in the relief of poverty, sickness and distress of people with AIDS and HIV through the continued awarding grants to worthy recipients but this is subject to continued receipts of donations. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trust8es are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom'Accounting Standards {Uniled l<ingdom Generally Accepted Accounting Practice). The13w applicable lo charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent. slate whether applicable accounting standards have been followed, subject lo any materlal departures disclose and explained in the financial statements. prepare the financial statements on the going concern basis unless it Is inappropriate lo presume that the charity wlll continue In oper8110n. The Iruslees are responsible for keepSng proper accounllng records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply wilh 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. Page 3
MERCURY PHOENIX TRUST UNAVDITED FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH Z025 TRUSTEESI REPORT APPOINTMEPIT OF AN INDEPENDENT EXAMINER Tho char51y remolnod bolow Ihe Ihroshol(J for oudll In iospocl of Ihp year under le9W mlolned Koll& Wllsuti ol Bluo Splio Llmlled RS 8xemlner 011118 charlty. Appfovo¢J by Ihp IwstQPB onfl slgnod on1118lr behall. Trustee DBIQ 30 January 2026 Ppgu 4
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT EXAMINER'S REPORT Independent Examiner's Report to the Trustees of Mercury Phoenix Trust I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 6 to 17. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the AGt. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. l Gonfirm that l am qualified to undertake the examination because l am a member of the Instilute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come lo my attention in GonneGlion with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act- or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements Goncerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fair view, which is not a matterconsidered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to whiGh attention should be drawn in this report in order to enable a proper understanding of the 8ccounts to be reached. Katie Wilson FCA Blue Spire Limited, Statutory Auditor Cawley Priory South Pallant Chichester West Sussex P019 1SY Date 30 January 2026 Page 5
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF FINANCIAL ACTIVITIES 2025 Total Funds 2024 Tolal Funds Unrestrlcted Restricted Funds Funds Note INCOME AND ENDOWMENTS FROM: Donations and legaGies Other trading 8clivities Investments 325.189 100,405 90.235 325,189 100,405 90,235 375,383 97,718 27,737 Total 515,829 515,829 500,838 EXPENDITURE ON: Raising funds Charitable aclivllles 22,992 867,509 22,992 867,509 45,831 987,931 Total 890,501 890,501 1,033,762 Net Incomel{expenditurel {374,672} 1374,6721 (532,9241 Transfers between funds 12 Net movement in funds 1374,672) 1374,6721 1532,924) RECONCILIATION OF FUNDS Total funds broughl fOard 11, 12 2,233,668 2,233,668 2,766,592 Total funds Garrled forward 11, 12 1,858,996 1,858,996 2,233,668 None of the charity's aclivSties were acquired or discontinued during the above bwo financlal years. The charity has no recognised gains or losses other than those dealt wlth the slalemenl of financial aclivilies. Page 6
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATE&4ENTS FOR THE YEAR ENOED 31 MARCH 2025 BALANCE SHEEfAS AT 31 MARCH 2026 2025 2024 CURRENT ASSETS Deblors Cash hjnd Dnd Irb bank Tolal curronl )68018 00.984 2 113370 2,194.33 2 163 2BS 2,403.285 CURRENT LIA91LITIES Ciodlloifj.. omounlD folllng Williln yoor 10 335 343 ?29 617 1.650.996 2.233,668 Not 0••g19 THE FUNDS OFTHECHARITY Rgslrfcied lundG Unr851ilcl¢d lundg 11. 12 11. 12 I,050.8 2.233.66D Tolol chDrlly fund Tho o¢compAnylng nolos form poll ollliTr finBncl81 $181omonlJ Approvod by111g liuslo&s ond Bloned on Iholr b9hpll Twsloo 30 January 2026 Pago 7
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF CASH FLOWS 2025 2024 Note Net cash flow from operating activitles (see below) 1440,145) (539,4971 Cash f low from Investlng actlvlties Inter8St received Net cash flow from Investing activltles 90,235 27,737 90,235 27,737 Net Increasel(decrease) in cash and cash equivalents 1349,9101 {511,7601 Cash and cash equivalents at l April 2024 2,463,285 2,975,045 Cash and cash equlvalents at 31 March 2025 2,113,375 2,463,285 Cash and cash equlvalents consist of: Cash al bank and in hand Cash and cash equlvalents at 31 March 2025 2,113,375 2,113,375 2,463,285 2,463,285 Reconclliation of net Income to net Gash flow from operatlng actlvities 2025 2024 Net income for the y8ar (374,6721 (532,9241 Adjusted for.. Interest and dividends (In¢reaselldecrease in debtors Increasel{decreas61 in Creditors 190,235) 180,964) 105,726 127,737) 21,164 (65,4731 (6,573) 1440,1451 539,4971 Page 8
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES General information, scope and basls of the fSnanclal statements The Mercury Phoenix Trust is an unincorporated charity constituted under a trust deed. The address of the principal offic8 is glven In the reference and administrative details section and the nature of Ihe chaTlty's operations and principal activities are given in the Iruslees, report. The charity conslilules a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charlties preparing Ihelr aeeounls In accordance wllh the FinancSal Reporting Standard appllcable in the UK and Republic of Ireland issued in October 2019, Ilie Financial Reporting Standard applicable in the United Kingdom and Republlc of Ireland (FRS 102), the CharS1ies Act 2011 and UK Generally Accepted Accounting PraGllce. The financial statements 8re prepared on a going concern basis under the historical cost convenlion, modilied to include certain items al fair value. Th8 financial stalèmenls are presented In sterling which is the functional currency of the charity and rounded to the nearesl £. The significant accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied to all years presented unless olheNise slated. Incomlng resources All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any p8rform8nce cond111ons have been met, Ihe amount can be measured rellably and it is probable that the income will be received. For donations lo be recognised the Charity wlll have been notified of the amounts and the setllem8nl date in wrlting. If there are conditions attached lo the donation and this requires a level of performance before entillemenl can be oblalned then income is dafarred until those condlllons are fully mel or the fulfllmenl of thos8 conditions is within the control of the Charity and il is probable that they will be fulfilled. Income from trading activities includes income earned from fundraising events and trading actlvllles lo raise funds for the Charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognis8d when enlillement h8s occurred. Investment income consist of inleresl received or recelvable and accrued al the balance sheet dale when material. Resources expended All expenditure is accounted far on an accruals basis and has been classified under headings that aggregate all costs related lo the Galegory. Expenditure Is recognlsed where there is a legal or conslruclive obligation to make payments lo third parties, il is probable that the settlement will be required and the amount of the obligation can be measured reliably. 11 is categorised under the following expenditure headings: Raising funds- these include costs of fundralsing and events. Charitable aclivilies., thes8 Include grants to third parties and the costs of administering the charity inclusive ol governance costs. Grants payable to thSrd parties ar8 Wlthin the charitable objecllves. Where uncondltional grants are offered, this is accrued as soon as Ihe recipient is notili8d of the grant, as Ihis gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are condllional relating lo performance then the grant is only accrued when any unfulfilled condillons are outslde of the control of the charlly. Page 9
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Resources expended Support and governance costs are those that assisl the work of the charity bul do not directly represent charllable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and slatulory requirements. VAT The charity is not registered for VAT and is unable lo recover VAT Incurred. On this basis costs are recorded inclusive of VAT wlthin the SOFA. Taxation The charity is considered to pass the lesls sel out in sections 521 10 536 Income Tax Act 2007 IITA 2007), as such no incom8 tax is payable on the charitls activllles. Debtors rocelvable and creditors payable within one year Debtors and creditors with no slated interest rate and receivable or payable within one year are recorded al transactlon price. Any Ioss8s arlsing from impairment ar8 recognlsed In expenditure. Cash and cash equlvalents Cash and cash equivalents Includes cash al bank and in hand. Forelgn currency Monetary assels and liabilities denominated in foreign currencies are translated into Pounds Sterling at rates of exchange ruling at the balance sheet d8t8. Transactions in foreign currencies are translated into Pounds Sterling at the rate ruling on the date of the transacllon. Exchange gains and losses are recognis8d in the Statement of Fund accounting Unrestrlcled general funds are incomlng resources receivable or generated for usa In furtherance of the general objects of the charity without reslriclion. Restricted funds are funds which are to be used in accordance wlth speciflc reslriclions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and adTninislering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in notes lo these financial Going concern The financial slalemenls have been prepared on a going concern basis as the trustees believe Ihal no material uncertainties exlst. The Iruslees have considered the level of funds held and the expected level of Sncome and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity lo be able to continue as a going concern. Page 10
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 1. Donations and legacies 2025 Total Funds 2024 Total Funds Income Funds Restrlcted Funds Income Funds Restrlcled Funds Donations Montreux Studio Experience InGome MPT Swiss Association 256,840 256,840 375,383 375,383 6,156 6,156 62,193 325,189 62,193 325,189 375,383 375,383 2. Other trading activities 2025 Total Funds 2024 Total Funds Income Funds Restrlcted Funds Income Funds Restricted Funds Freddle for a Day income 100,405 100,405 100,405 100,405 97,718 97,718 97,718 97,718 3. Investment Income 2025 Total Funds 2024 Total Funds Unrestrlcted Restricted Funds Funds Unrestrlcted Restrl¢ted Funds Funds Interest received 90,235 90,235 90,235 90,235 27,737 27,737 27,737 27,737 4. Raising funds 2025 Total Funds 2024 Total Funds Unrestricted Restricted Funds Funds Unrestricted Restricted Funds Funds Costs of other trading aclivilies Freddie for a Day costs Sludlo Experience cosls 20,943 2,049 22,992 20,943 2,049 22,992 45,404 427 45,831 45,404 427 45,831 Page 11
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 5. Charitable activities 2025 Total Funds 2024 Total Funds Unrestricted Restrlcted Funds Funds Unrestricted Restricted Funds Funds Grants to institutions Grant appiaisal services Management Services Exchange (galnllloss Legal, stationery and administration Bank charges and donation processing Governance costs.. Independent examiner's fees 813,382 25,053 15,384 3,914 813,382 25,053 15,384 3,914 939,191 22,902 14,458 2,772 939,191 22,902 14,458 2,772 7,016 7,016 5,280 5,280 1,200 1,200 1,768 1.768 1,560 867,509 1,560 867,509 1,560 987,931 1,560 987,931 6, Grants to instltutions Year ended 31 March 2025 Recipient name Country of use ACE Africa {UKI ACE Africa (UK) Action for Fundamental Change Adarsha Rural Health and Economic Development African Foundatlons Trusl (ASAP) Afya Yako Muhimi Organisation Amani Peoples Theatre Educallon Amani UK Barbara May Foundation Bhubesi Pride Foundation Brass for Africa {UKI Bureau of Obligate and Accompanier for Rural Cecily's Fund CHIVA Africa Community Alllance for Hope Deva Kiribati Social Help Association Excel SupplSes Community Education Project Girl Child Counselling Women Group Global Livingston Institu18 Grassroot Network for Health Health Poverty Action Hillcrest AIDS Centre Trust Indian Communily Welfare Organisalion Keep A Child Alive Medical Acllon Myanmar National AIDS Trust Ndola Nutrlllon Organisalion Carried down Kenya T2nz2nia Uganda India South Afrlca Tanzania Kenya Kenya Tanzania Malawi Uganda India Zambia South Africa Kenya IndSa Kenya Ker)ya Uganda Kenya Rwanda South Africa Indi8 South AfriGa Burmalmyanr UK Zambla 15,000 15,000 9,823 3,739 11,847 12,070 9,200 9,989 14,870 20,000 20,000 4,500 12,250 9,248 4,955 4,647 4,264 7,500 17,274 4,682 5,000 6,997 6,000 7,059 236,062 8,364 5,000 485,340 Page 12
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 6. Grants to Institutions Icontinuedl Year ended 31 March 2025 continued R8clpient name Country of use Broughl down Nurture Africa Ombelja Yehinga Organisalion One Voice South Africa Play It Forward Reaching The Unreached {UKI Restless Development Rhlza (UK) Riley Orton Foundation Rural Organisalion & Development Saint Boniface Haili Foundation (Health Eqully International) Sangrami Voluntary SKRUM (UK) Society for ComTnunily Development Sociely for Communily Organisalion Health Project Society for Nature Education and Health South Central India Network for Educational Project St Francis Health Care Serviceg Swayamkrushi Rural & Urban Educallon Project Tackle Africa Tackle (UK) Temwa UK The Nasio Trust Theatre for A Change United Through Sport Welfare Organlsatlon for Rural Woza Moya Communily Development Youth and Society Zambia Orphans Aid 485,340 15,000 10,000 12.000 16,535 11,760 30,000 5,745 9,965 3,743 7,509 13,446 19,700 3,400 4,730 8,325 4,576 9,750 4,900 14,995 15,795 10,000 11,930 40,283 10,000 3,746 7,215 7,994 15,000 813,382 Uganda Namibia South Africa Zambia India Tanzanla South Africa Kenya India Haili India Eswatini Indla India India India Uganda India Kenya Kenya Malawi Kenya Malawi South Afrlca India South Africa Malawi Zambia Year ended 31 March 2024 Reclpient name Country of use ACE Africa ACE Africa (UK) ACET ACET UK Advantage Africa Avert UK Bhubesi Pride Foundation (UK) Brass for Africa (UK) Bureau of Obllgale and Accompanler for Rural Development Centre for the Development of Rural Women Children for Health Children's HIV Association {UK} Community Health & Sustainable Environment Deepam Trust Carried down Kenya Tanzania Zimbabwe Nlgeria Kenya Worldwide Malawi Uganda India India South Africa South Afi'ica Uganda Indla 13,196 15,000 15.000 10,000 16,860 24,663 20,716 20,000 4,000 3,061 12,000 6,300 15,000 4,610 180,406 Page 13
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 6. Grants to in5titutlons {contlnuedl Year ended 31 M8rch 2024 continu8d Reciplant name Couiitry of use Brought down Doctors with Africa CUAAM Ene Empower Feed the Minds {UKI Health Poverty Action Hillcresl AIDS C&nlre Trust Human Organisalion for Peoples Enlightenment Institute of Research & Development for the Rural Poor Trust Kenya Arid Regions Children Fund Medical Action Myanmar NAM Aidsmap People's Association for Community Health Education Reaching the Unreached Restless Development Restless Development Ripple Effect International {UK) Sainl Boniface Haili Foundation SKRUM {UKI Social Action for Value Educallon Social Health and Education Development Society for Nature, Education & Health South Coast Hospice Soweto Youth Iniliallve Slarflsh Greathearts Foundation Starfish Greathearts Foundation {UK} Tackle Afrlca Tearfund (UK) 180,406 10,000 6,500 8,072 17,629 6,964 3,800 3,009 6,895 369,350 10,000 8,585 11,760 30,000 18,000 15,000 6,555 19,700 5,060 6,453 8,673 10,750 5,000 10,680 15,000 14,996 15,000 7,500 17,918 6,000 8,500 10,000 15,000 15,000 7,215 15,000 13,221 939,191 Uganda Ghana Rwanda Rwanda South Africa India India Kenya Burmal Myan Worldwide India India Tanzanla Zimbabwe Zambia Haili Eswatlnl India India India South Africa Kenya South Africa South Africa Kenya Nigeria Malawi Indonesla India Kenya Namibia Malawi South Africa South Africa Zambia Zimbabwe T8mwa The Bali Children's Project The Friends of HOPE The Nasio Trust IUKI The Ombetja Yelhinga Organisalion Theatre for 8 Change Ubuntu Pathways (UK) Woza Moya Community Development Project Zambia Orphans Aid {UK) Zimbabwe Education Trust 7. Independent examiner's fees 2025 Total Funds 2024 Total Funds Unrestricted Restricted Funds Funds Unrestricted Restrictèd Funds Funds Exarninalion current year 1,560 1,560 1,560 1,560 Page 14
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 8. Related party transactlons No Trustees or companies where a Trustee was a director received any remuneration or expenses during the year (2024: £Nill. B H May, R M Taylor, and H J Beach, who are Trustees of the Trust are also directors of Tonleigh Ltd. a company which made donations to the Trust amounting to £78,000 during the year {2024= £225,702) R M Taylor, who are Trustees of the Trust, is also a director of Nightlar Ltd, a company which made donations to the Trusl amounting lo £nil during the year12024: £1,260) 9. Debtors 2025 2024 Accrued income 80,964 80.964 10. Creditors: amounts falllng due within one year 2025 2024 Trade creditors Accruals Grants p8yable 12,935 12,249 310,159 335,343 18,389 211,228 229,617 11. Analysis of net assets between funds 2025 Total Funds 2024 Total Funds Unrestricted Restricted Funds Funds Unrestricted Restrlcted Funds Funds Current assets Current liabilities 2,194,339 335,343 1,858,996 2,194,339 1335,343) 1,858,996 2.463.285 229,617 2,233,668 2,463,285 229,617 2,233,668 Page 15
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 12. Net movement In funds Year ended 31 March 2025 Total Total Transfers Total funds incoming resources between carried resources expended funds forward Total funds brought forward Restricted funds Unrestricted funds 2,233,668 2,233,668 515,829 515,829 890,501 890,501 1,858,996 1,858,996 Year ended 31 March 2024 Total Total Transfers Total funds incoming resources between Carried resources expended funds forward Total funds brought forward Restricted funds Unrestricted funds 2,766,592 2,766,592 500.838 500,838 1,033,762 1,033,762) 2,233,668 2,233,668 Page 16
MERCURY PHOENIX TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 13. Comparative statement of flnan¢lal activities 2024 Total Funds Unrestricted Restricted Funds Funds Note INCOME AND ENDOWMENTS FROM: Donations and legacies Other trading activities Investments 375,383 97,718 27,737 375,383 97,718 27,737 Total 500,838 500,838 EXPENDITURE ON.. Ralslng funds Charitable activities 45,831 987,931 45,831 987,931 Total 1,033,762 1,033,762 Net incomelexpendlturel 1532,924) (532,924) Transfers between funds 12 Net movement In funds 1532,9241 {532,9241 RECONCILIATION OF FUNDS Total funds brought forward {reslated) 11. 12 2,766,592 2,766,592 Total funds carried forward 11, 12 2,233,668 2,233,668 Page 17