``` REGISTERED COMPANY NUMBER: 02763068 (England and Wales) REGISTERED CHARITY NUMBER: 1015804 ``` ## **`REPORT OF THE TRUSTEES AND`** ``` UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ``` ## **`FOR`** ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ``` MUSTARD SEED TRUST (MARLBOROUGH) ``` ## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021`** ||**`Page`**| |---|---| |**`Report of the Trustees`**|`1 to 6`| |**`Independent Examiner's Report`**|`7`| |**`Statement of Financial Activities`**|`8`| |**`Balance Sheet`**|`9 to 10`| |**`Notes to the Financial Statements`**|`11 to 18`| ``` MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068) ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present theirreportwiththefinancialstatementsofthecharityfortheyearended31March2021.The trustees haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` The principal objective of the Trust is the advancement of the Christian religion. ``` ## **`Public benefit`** ``` TheTrusteeshaveconsideredtheCharityCommission'sgeneralguidanceonpublicbenefitand its supplementary guidance on the advancement of religion for the public benefit. ``` ``` Thecharitycarriesoutawiderangeofactivitiesinpursuanceofitscharitableaimsthatdeliver public benefit.TheTrusteesconsiderthattheseactivitiesprovidebenefittobothChristiansandthe wider community. The Trust: ``` - `Operates a Christian Bookshop at The Old Boathouse, Hillier's Yard, Marlborough, Wiltshire` - `Organises outreach events with Christian authors` - `Arranges educational events` - `Advises churches, groups and individuals on resources available` - `Supplies Christian resources to churches and schools at a discount` - `Provides an environment where the vulnerable and disadvantaged are welcomed and listened to` - `Provides access to Christian books that would otherwise not be available in order that the public can look at them with no pressure to buy them.` ``` TheTrusteeshavegivendueregardtoguidanceissuedbytheCharityCommissionindeciding what activities the charity should undertake. ``` ## **`Volunteers`** ``` TheTrustreliesuponthecommitmentofsupportersandvoluntaryhelpfromthecommunity.The Trust alsorelieson voluntaryhelp fromthe Managerwho is one of the co-foundersand remainsa key person in the running of the Trust. The Trustees are also volunteers. ``` ``` -1- ``` ``` MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068) ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Charitable activities`** ``` InadditiontomakingChristianbooks,cardsandliteratureavailabletothepublicforpurchase and providing information, in the year ended 31 March 2021, the Trust also: ``` - `Offered an order and collect service during Covid Lockdowns` - `Provided Bibles to Trinity School, Ogbourne St George Primary, Chilton Foliat, Ramsbury and Preshute` - `schools, and to St Mary's Church, Marlborough.` - `Provided a wide range of resources and church requisites to local churches` - `Provided Book Reviews to parish newsheets/magazines` - `Maintained an online presence to keep supporters and the public updated with our activities` - `Provided information on new books to a wide range of individuals and churches` - `Continued to work with a Coffee Shop as it provides a conducive environment for the exploration and fostering of the Christian faith` ``` DuetotheCovidpandemicwehavenotbeenabletohosteventsinpersonandthereforewewere not able to: ``` - `Host author evenings` - `Supply books for Open the Book Groups leading assemblies in primary schools` - `Host quarterly Christian Book Group evenings` - `Provide opportunities for young adults with learning disabilities to work with a team in a shop environment - instead they coloured bookmarks with Bible verses which were then given to customers` - `Provide a safe environment where the vulnerable and disadvantaged are welcomed and listened to.` ``` -2- ``` ``` MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068) ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`FINANCIAL REVIEW`** ## **`Financial results 2021`** ``` TheTrustachievedanetincomeof£18,673fortheyearended31stMarch2021(2020:anetdeficit of £3,808).This is after the inclusionof the donationunder Gift Aid of £1,189(2020:£nil) from the connected Coffeeshop,MustardSeed (Marlborough)Ltd, the receiptof GovernmentCovidSupportGrantsof £19,431 (2020:£nil) and a reductionin operatingcosts of £8,371made possibleby the flexibilityand help from staff and volunteers and by the understanding and support from the landlords. ``` ``` Therefore,althoughthewholeoftheyearwasseverelyimpactedbytheeffectoftheCovid19 Pandemic, theresultfortheyearwasmuchbetterthanwasexpectedat thestartoftheyear.TheTrusteesare very thankful for all the support received. ``` ``` ThesalesoftheconnectedCoffeeshopweresimilarlyaffectedbeingonly20%ofnormalduetothe social distancingrulesandNationalLockdownscausedbytheCovidpandemic.Attheendofthefinancial year the Coffeeshopwas in factclosedand had been closedsince1 Januarydue to a lockdown,it re-opened on 12April2021.Duetotheflexibilityandhelpfromstaffandvolunteers,theunderstandingand support from the landlordsand the receiptof payrollsupportfrom the Governmentunder the. HMRC Job retention Scheme,the Coffeeshopwas able to reduceits operatingcostsby £29,019,and therebycontinuedto trade and made a small taxable profit which was donated to the Trust. ``` ``` The combinedresultof the Bookshopand the Coffeeshopfor the yearwas a net incomeof £17,880 (2020: net loss of £400). ``` ``` Betweenthe end of the financialyear and the date these accountswere approvedtradinghas continued to beverydifficultduetothesocialrestrictionscausedbyCovid19.Thisisexpectedtocontinuewell into 2022. The future remains uncertain. ``` ``` The Trust continuesto receivevitalsupportfromthe landlords.The Trusteesare pleasedto reportthat the landlordshaveconfirmedtheywillcontinuetoprovidesupportuntil31March2022,atwhichtime the situation will be reviewed. ``` ``` The Trustees are thankful for all the support, in all its many forms, that the Trust continues to receive. ``` ``` The Trusteesand Managementwill continueto seek ways to maintainour Christianpresencenear the High Street. ``` ## `Investment policy` ``` TheTrusteesbelievethatthepolicyofplacingsurplusfundsondepositwithlocalbanksandCCLA is sufficient for the purpose of the Charity, given its size. ``` ## `Reserves policy` ``` TheTrusteesconsiderthataprudentleveloffreereservesfortheTrustiereservesoverandabove the amountinvestedin net tangiblefixedassetsand stock,shouldequateto betweenthreeand six months of theexpectedcombinedoperatingexpenditureofboththeTrustandtheCoffeeShop.Thereason for reservingthe combinedoperatingcostsis that the majorpart of the sharedexpenseswould be incurred by the Trust alone if the Coffeeshop, Mustard Seed (Marlborough) Ltd, were to cease to trade. ``` ``` -3- ``` ``` MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068) ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ``` At 31 March2021the freereservesof £52,997(approx12 months)areabovethe targetrangeof £13,000 to£26,000.TheTrusteesarecomfortablewiththislevelofreservesasthisenablestheTrusttoadjust its cost structureshould this prove necessaryand allow the Trust to continueits activitiesin the event that the Coffee Shop did, for some unforeseen reason such as the Covid Pandemic, cease to trade. ``` ## **`FUTURE PLANS`** ``` TheTrustplanstocontinueitsobjectiveofadvancingknowledgeandunderstandingoftheChristian faith, andtogivingexpressiontoChristianhospitalitythroughtheoperationofitsChristianBookshop and connectedCoffeeShop.It plansto continueto providelocalchurchesand Christiangroupswith resources and information to help them in their Christian mission. To further this end: ``` ## `The Trust will:` - `Continue to provide a range of Christian books and cards` - `Develop ways of encouraging the use of Christian literature` - `Explore ways of using the premises in the evenings for the extension of Christian understanding` - `Provide staff and volunteer training` - `Continue to offer support to volunteers with learning difficulties` - `Maintain an online presence to keep supporters and the public updated with our activities` - `Explore ways to work with local churches` - `Focus on what is unique about the Coffee Shop` - `Continue to arrange author events and explore different ways of doing such events such as Zoom.` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` TheTrustisestablishedasacompanylimitedbyguaranteeandisregisteredasacharitywiththe Charity Commission.TheaffairsoftheTrustaregovernedbyitsMemorandumandArticlesofAssociation. The liability of the Members in the event of the Trust being wound up is limited to a sum not exceeding £1. ``` ## **`Recruitment and appointment of new trustees`** ``` TheTrusteesaredirectorsforthepurposesofcompanylawandTrusteesforthepurposesofcharity law. New Trusteesare appointedby resolutionof the Boardof Trusteesand continuein officeuntil resignation. There is no minimum or maximum term of appointment. ``` ``` Potentialnew trusteesare chosenin orderto complementthe skillsof the existingTrusteesand to provide somerepresentationofthevariousChristianChurchesintheMarlborougharea.Potentialtrustees are invitedtoattendoneortwoTrusteeBoardMeetingstohelpdecideonbothsideswhether the appointment would be appropriate. ``` ## **`Organisational structure`** ``` The Trust operatesa ChristianBookshopin Marlboroughand leasespremisesthat are sharedwith a Coffee Shop, also owned by the Trustees.The CoffeeShop operatesin supportof the Bookshopand donatesall of its taxableprofitsto the Bookshop.The CoffeeShop servescoffee,beverages,cakesand light lunches, and provides an environment that fosters and supports the aims of the Trust. ``` ``` TheTrustreliesverymuchonthehelpofvolunteersandadedicatedstaff.TheTrusteesexpress their thankstothestaffandtothevolunteersforallthesupportthathasbeenprovided,andcontinuesto be provided, in so many ways. ``` ``` -4- ``` ``` MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068) ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Induction and training of new trustees`** ``` TheCompanySecretaryis responsiblefortheinductionof anynewTrusteewhichinvolvesawarenessof a Trustee'sresponsibilities,thegoverningdocument,administrativeprocedures,andthehistory and philosophicalandreligiousapproachoftheTrust.AnewTrusteereceivescopiesoftheprevious year's annualreportandaccountsandcopyoftheCharityCommissionleaflet"TheEssentialTrustee:What you need to know, What you need to do". ``` ## **`Related parties`** ``` The CoffeeShop is a separatetradingcompanycalledMustardSeed (Marlborough)Ltd.It is ownedby the Trustees and is therefore a connected trading company. ``` ``` MustardSeedTrustoperatesinTheBoathouse,apropertywhichisownedbyMrsRMauriceandMr M Reynolds,whoarethe landlords.MrsR Maurice,togetherwithMrsD Reynolds,werethe foundersof the Charity.MrsR Mauricecontinuestobe a keyvolunteerandis theManageroftheCharity.The landlords havecommittedtoprovidethepremisestotheTrustonastablebasisatalevelofrentthatisbelow the marketrate;thisisdeterminedonathreeyearlycommercialrentreview.Underthetermsofthe lease, thelandlordsareresponsibleforstructuralandexternalmaintenanceandanycapitalworksthat enhance the value of the building. Please also refer to Note 14 of the financial statements. ``` ``` TheTrustreliesonvoluntaryhelpfromMrsRMauriceastheManagerwhoremainsakeypersonin the running of the Trust. ``` ``` TheTrusteesandtheManagerarevolunteersanddidnotreceiveanyremunerationintheyearfor their services to the Trust or in the previous year. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Company number`** ``` 02763068 (England and Wales) ``` ## **`Registered Charity number`** ``` 1015804 ``` ## **`Registered office`** ``` 1 Farrar Drive Marlborough Wiltshire SN8 1TP ``` ## **`Trustees`** ``` Mr R Wheeler Mr N Larkey Mr R Mann Mrs C Piercy-Buehrer Ms S M Wylie Dr P Tulloch (appointed 29.1.21) ``` ## **`Company Secretary`** ``` Dr P Tulloch ``` ``` -5- ``` MUSTARD SEED TRUSr MARLBOROUGH 27 REGlSrERED_NUMB.ER:￿￿￿L REPORT OF TH_E TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 REFERENCE AND ADMINISThATIVE DETAILS Independent Examiner Garry Pells 37 Vespasian Road Marlborough Wiltshire SN8 2FB Treasurer Mrs R Maurice Manager Mrs R Maurice Bankers HSBC Bank Ltd Unit 6The Lock Canal Walk Swindon SNI ILD Th15 repon has been prepared in attordante with the Special provisions of Part 15 of the Companies Act 2006 relating to small companie Approved by order of the board of trustees on and signed on its behalf by: MrR eler- DEPENDENT EXAMINER'S REPORTTO THE MUSTARD SEED TRUST MARLBOROUGH . OF ' Independent examinerfs report to the trustee5 of Mustard Seed Trust (Marlborough) I'the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. Re5ponsibllitles and basls of report A5 the charity's trLtstees of the Company land akn its directors for the purposes of company lawl you are responsible for the preparation of the accounts in aCcor(lan￿ with the requirements of the Companies Act 20061'the 2(ffi Act'l. Having satisfied myself that the accounts of the C(Knpany are not required to be audited under Part 16 of the 2(K￿ Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as cdrried out under sertion 145 of the Charities Act 2011 l*he 2011 Act'l. In carrying out my examination I have followed the Direction5 gFven by the tharity Commission under Section 145151 Ibl of the 2011 Act. Independent examiner's Statement 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: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts grve a true and fair view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordarKe with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplic3ble to charities preparing thelr accounts in accordan￿ wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR5 10211- I have no concerns and have come across no other tnatteis ITr connection with the examination to which attention should be drawn in this report in ordei to enable a proper understanding of the accounts to be reached. Garry Pells 37 Vespasian Road Marlborough Wiltshire 5N8 2FB Date.. ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`STATEMENT OF FINANCIAL ACTIVITIES`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** |||`31.3.21`|`31.3.20`| |---|---|---|---| |||`Unrestricted`|`Total`| |||`funds`|`funds`| ||`Notes`|`£`|`£`| |**`INCOME AND ENDOWMENTS FROM`**|||| |`Donations and legacies`|`2`|`1,366`|`232`| |**`Charitable activities`**|||| |`Bookshop sales`||`13,029`|`28,805`| |`Investment income`|`3`|`16`|`81`| |`Other income`|`4`|`19,431`|`-`| |**`Total`**||`33,842`|`29,118`| |**`EXPENDITURE ON`**|||| |**`Charitable activities`**|`5`||| |`Cost bookshop sales items sold`||`8,385`|`17,271`| |`Bookshop operating expenses`||`6,784`|`15,155`| |**`Total`**||`15,169`|`32,426`| |**`NET INCOME/(EXPENDITURE)`**||`18,673`|`(3,308)`| |**`RECONCILIATION OF FUNDS`**|||| |**`Total funds brought forward`**||`43,389`|`46,697`| |**`TOTAL FUNDS CARRIED FORWARD`**||`62,062`|`43,389`| ``` The notes form part of these financial statements ``` ``` -8- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH) (REGISTERED NUMBER: 02763068)`** ## **`BALANCE SHEET`** ## **`31 MARCH 2021`** |`31.3.21`
`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`9`
`2,736`
**`CURRENT ASSETS`**
`Stocks`
`10`
`10,002`
`Debtors`
`11`
`8,166`
`Cash at bank`
`44,146`
`62,314`
**`CREDITORS`**
`Amounts falling due within one year`
`12`
`(2,988)`
**`NET CURRENT ASSETS`**
`59,326`
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
`62,062`
**`NET ASSETS`**
`62,062`
**`FUNDS`**
`13`
`Unrestricted funds`
`62,062`
**`TOTAL FUNDS`**
`62,062`|`31.3.20`
`Total`
`funds`
`£`
`3,247`
`9,058`
`5,925`
`25,721`
`40,704`
`(562)`
`40,142`
`43,389`
`43,389`
`43,389`
`43,389`| |---|---| ``` The charitablecompanyis entitledto exemptionfromauditunderSection477of the CompaniesAct 2006 for the year ended 31 March 2021. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year ended 31 March 2021 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.` ``` The notes form part of these financial statements ``` ``` continued... ``` ``` -9- ``` MUSTARD SEE MARLBO GisfERED NUMBER: 027 HE￿. continued These finartcial statements have been prepared in accordance with the provisions applicable to charitable companies subjert to the small companie5 regime. The financi statements We￿ approved by the Board of Trustees and authorised for issue on . and were signed on Its behalf by: t1 MrR The notes form part of these financial statements -iO- ``` MUSTARD SEED TRUST (MARLBOROUGH) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102, havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS 102)(effective1 January2019)',FinancialReportingStandard102'The FinancialReporting Standard applicablein theUK andRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements have been prepared under the historical cost convention. ``` ``` The accounts have been prepared on a going concern basis. ``` ## **`Income`** ``` Allincomeis recognisedin theStatementofFinancialActivitiesoncethecharityhasentitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthe charityto that expenditure,it is probablethat a transferof economicbenefitswill be requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have been allocated to activities on a basis consistent with the use of resources. ``` ## **`Tangible fixed assets`** ``` Depreciationisprovidedonfixedassetssoastosoastowritethemoffovertheirexpected useful lives at the following rates: ``` ``` Fixtures & fittings20% straight line Computer equipment20% straight line ``` ``` Items costing less than £100 are expensed in the year of acquisition. ``` ## **`Stocks`** ``` Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowance for obsolete and slow moving items. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbe usedin accordancewiththecharitableobjectivesat thediscretionof the trustees. ``` ``` Restrictedfunds can only be used for particularrestrictedpurposeswithin the objectsof the charity. Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted purposes. ``` ``` continued... ``` ``` -11- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`1. ACCOUNTING POLICIES - continued`** ## **`Fund accounting`** ``` Furtherexplanationofthenatureandpurposeofeachfundis includedin thenotestothe financial statements. ``` ## **`2. DONATIONS AND LEGACIES`** |`Donations`
`Donation from connected Coffeeshop`
**`3.`**
**`INVESTMENT INCOME`**
`Interest income`
**`4.`**
**`OTHER INCOME`**
`Government Grants re Covid19`
**`5.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Cost bookshop sales items sold`
`Bookshop operating expenses`|`31.3.21`
`31.3.20`
`£`
`£`
`177`
`232`
`1,189`
`-`
`1,366`
`232`
`31.3.21`
`31.3.20`
`£`
`£`
`16`
`81`
`31.3.21`
`31.3.20`
`£`
`£`
`19,431`
`-`
`Direct`
`Costs (see`
`note 6)`
`£`
`8,385`
`6,784`
`15,169`| |---|---| ``` continued... ``` ``` -12- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`6. DIRECT COSTS OF CHARITABLE ACTIVITIES`** |`Staff costs`
`Cost of items sold`
`Rent`
`Light, heat, water, waste`
`Telephone`
`Stationery, postage, printing`
`Advertising & publicity`
`Council business rates`
`Insurance, licences, book assn`
`HMRC Job Retention Scheme`
`Equipment rental`
`Outreach costs`
`Repairs & maintenance`
`Capital expenditure < £100`
`Bank & credit card charges`
`Staff training & welfare`
`Sundry renewals, consumables`
`Depreciation`|`31.3.21`
`£`
`3,309`
`8,385`
`500`
`1,497`
`753`
`49`
`30`
`25`
`529`
`(1,914)`
`656`
`-`
`154`
`75`
`160`
`70`
`-`
`891`
`15,169`|`31.3.20`
`£`
`6,091`
`17,271`
`1,000`
`2,662`
`661`
`182`
`117`
`745`
`538`
`(109)`
`638`
`224`
`275`
`-`
`222`
`647`
`127`
`1,135`
`32,426`| |---|---|---| ## **`7. NET INCOME/(EXPENDITURE)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||`31.3.21`|`31.3.20`| |---|---|---| ||`£`|`£`| |`Depreciation - owned assets`|`891`|`1,135`| ## **`8. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2021nor for the year ended 31 March 2020. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31March2021norfortheyear ended 31 March 2020. ``` ``` continued... ``` ``` -13- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`9. TANGIBLE FIXED ASSETS`** |**`COST`**
`At 1 April 2020`
`Additions`
`Disposals`
`At 31 March 2021`
**`DEPRECIATION`**
`At 1 April 2020`
`Charge for year`
`Eliminated on disposal`
`At 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
**`10.`**
**`STOCKS`**
`Finished goods`
**`11.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Amounts owed by participating interests`
`Other debtors`
`VAT`|`Fixtures,`
`fittings,`
`equipment`
`£`
`25,253`
`380`
`(1,069)`
`24,564`
`22,006`
`891`
`(1,069)`
`21,828`
`2,736`
`3,247`
`31.3.21`
`31.3.20`
`£`
`£`
`10,002`
`9,058`
`31.3.21`
`31.3.20`
`£`
`£`
`284`
`853`
`7,255`
`4,729`
`434`
`-`
`193`
`343`
`8,166`
`5,925`| |---|---| ``` TheparticipatinginterestsistheconnectedtradingcompanyMustardSeedMarlboroughLtd, also known as the Coffee Shop. ``` ``` continued... ``` ``` -14- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Trade creditors`
**`13.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`

**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`31.3.21`
`31.3.20`
`£`
`£`
`2,988`
`562`
`Net`
`movement`
`At`
`At 1.4.20`
`in funds`
`31.3.21`
`£`
`£`
`£`
`43,389`
`18,673`
`62,062`
`43,389`
`18,673`
`62,062`
`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`33,842`
`(15,169)`
`18,673`
`33,842`
`(15,169)`
`18,673`
`Net`
`movement`
`At`
`At 1.4.19`
`in funds`
`31.3.20`
`£`
`£`
`£`
`46,697`
`(3,308)`
`43,389`
`46,697`
`(3,308)`
`43,389`| |---|---| ``` continued... ``` ``` -15- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021`** ## **`13. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`29,118`
`(32,426)`
`(3,308)`
`29,118`
`(32,426)`
`(3,308)`| |---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Net`
`movement`
`At 1.4.19`
`in funds`
`£`
`£`
`46,697`
`15,365`
`46,697`
`15,365`|`At`
`31.3.21`
`£`
`62,062`| |---|---|---| |||`62,062`| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`62,960`
`(47,595)`
`15,365`
`62,960`
`(47,595)`
`15,365`| |---|---| ``` continued... ``` ``` -16- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`14. OTHER FINANCIAL COMMITMENTS`** ``` At31March2021theCharity(togetherwithitsconnectedtradingcompany)hadasix month commitment under a non-cancellable operating lease as follows: ``` |`commitment under a non-cancellable operating lease as follows:`||| |---|---|---| ||`2021`|`2020`| ||`Land &`|`Land &`| ||`buildings`|`buildings`| ||`£`|`£`| |`Expiry date:`||| |`Within one year`|`4,500`|`6,000`| |||| ## **`15. RELATED PARTY DISCLOSURES`** ``` ThepremisesinwhichMustardSeedoperatesareownedbyMrsRMaurice,thelandlord.Mrs R MauricewasoneofthefoundersoftheCharityandcontinuestobeakeyvolunteerintherole of the Managerof the Charity.The landlordhas reducedthe financialand propertyrisk on the Charity by enablingtheCharitytorentpremisesnearMarlboroughHighStreetwithouttheCharity needing tobuyitsownpropertyorenterintoaleasewitha3or5yearfinancialcommitmentwitha third partylandlord.A third partyleasewouldhave the financialrisk of high rent increases,as well as the operationalrisk that at the end of the term the landlordcould ask the Charityto leavethe premises, whichwouldbeverydisruptivetotheaimsoftheCharityandcouldeventhreatenitslong term viability.ThelandlordhasconfirmedthatthereisnointentiontoasktheCharitytoleave the premisesand thattheyare contentto rent the premisesto the Charityon a yearby yearbasis, with six monthnoticeof terminationon eitherside.The landlordhas committedto providethe premises totheTrustona stablebasisat a levelofrentthatis belowthemarketrate.Thereis a rent review every 3 years which is undertaken to ensure that the rent charged is below market value. ``` ``` In responsetotheCovidpandemic,duringtheyearended31March2021,thelandlordgranteda 6 monthrent free periodfollowedby 6 monthsat half rent,paymentof whichcouldbe deferred. For the yearending31 March2022the landlordhas reducedthe contractualrentby 25%forthe whole year. This will be reviewed at the end of the year. ``` ``` DuringtheyeartheCharity,togetherwithitsconnectedtradingcompanytheCoffeeShop,paid a combinedrenttotheLandlordsof£3,000(2020:£11,000).Therewasanoutstandingbalances at the end of the year of £2,500 (2020: £Nil). ``` ``` continued... ``` ``` -17- ``` ## **`MUSTARD SEED TRUST (MARLBOROUGH)`** ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`FOR THE YEAR ENDED 31 MARCH 2021`** ## **`16. ULTIMATE CONTROLLING PARTY`** ``` MustardSeedTrust(Marlborough)isconnectedtoMustardSeed(Marlborough)Ltd,the Coffee Shop,a tradingcompany.Bothcompaniesareunderthe commoncontrolof the Trusteesshown in the Report of the Trustees. ``` ``` -18- ```